I’m a responsible adult in every aspect. I’m 40, I’ve been married for almost 15 years, and I’m the father of a soon-to-be teenager. I have a job, I pay my mortgage and my bills, I shop, I cook, I visit my mom every now and then, and I keep a small, but serious circle of friends. Except for one thing that many consider one of my flaws, a thing I don’t publicize too much: I like to play at https://ca.redflushcasino.com/casino-games/.
Playing at the Red Flush is my guilty pleasure – at least that’s what my closest friends (none of them sharing my gaming preferences) consider it. But I have to tell you, my years of real money gaming have not had any negative effects on my life – or my finances. If any, its effects were beneficial. Let me explain.
One of the best pieces of advice I got before I even registered my Red Flush account was to be disciplined when playing casino games – and not just online. When you sit at the blackjack table, or get lost among the hundreds of video slot machines the Red Flush throws at you from day one, you can easily lose count of your time – and money. If you’re not mindful, you can end up losing all your gaming budget for a week in a few hours, and feel the urge to play more to win them back. And this usually leads to even more losses, self-loathing, and other issues that I won’t go into right now.
The Red Flush Casino has its set of tools to prevent this from happening. Players can set daily and weekly deposit limits that the casino won’t let them exceed. Of course, they can change them if they want to, but the Red Flush requires them to wait for at least 24 hours before any changes can take effect. They call it a “cool-off” period, and that’s exactly what it is: enough time to cool off their hot heads and reconsider. And it works.
I only had to use this tool once. After the initial enthusiasm died down, I became a more disciplined player – and the same discipline seeped out into other aspects of my life, too.
All my life I’ve been an overly cautious guy. My motto was “better safe than sorry”, and this has left its mark on my life – both at a personal and a professional level. I always avoided taking risks, and this limited my possibilities for growth. But playing enough for real money – which was a big step, I must say – has finally showed me that it’s OK to take risks once in a while. Because, even if I lose, I’ll have the chance to make up for it later. This important life lesson helped me obtain a promotion in the coming years, and I think it’s even responsible for me getting together with my wife. Because I would’ve never even considered talking to such a hottie before.
There is no official guidebook for getting out of debt. The indebted are largely left to fend for themselves with their own means when the red notices start coming. However, as with anything, there are a number of things debtors should do, and more importantly, shouldn’t do. Whether debtors get out of debt in a matter of years, or end up being indebted forever, depends on these.
The first thing most people forget about being in debt is that it’s something that happens to everyone. Most debtors find it difficult to come into terms with the fact that they are in debt. People ignore debt, and then end up sinking further in debt. Instead of denying debt, accept it as a fact of life. People who do not belong to the one percent have to take out loans to pay for college, new home or cars. Sometimes, when incomes fluctuate, it’s difficult to repay these loans. That’s when people become steeped in debt.
No matter how deep one gets into debt, there’s always the possibility of getting out of the situation. Another mistake is that most people think it’s not possible to renegotiate the terms of a loan contract. Loan contracts are not set in stone. State and federal laws allow debtors to renegotiate terms of debt if the debtor is unable to meet the financial obligations stated in the contract. In some extreme instances, the law demands that the creditor forgive the debt. In other scenarios, the creditor could legally be forced to reduce the amount of debt. For people who are in debt because of payday loans, the legal avenues will be able to get the creditor to lower interest rates.
Also, bankruptcy is another option most debtors fail to see at first. Most debtors fear bankruptcy as it can ruin credit histories. However, under Chapter 13 bankruptcy, debtors are allowed to repay the loan in partial or at lowered interest rates. Once a debtor starts repaying, bad credit can improve. Local attorneys, for example, a Scottsdale bankruptcy lawyer, will be able to help debtors with specific state laws that favor the debtor.
Other than a legally mandated debt settlement, the indebted can also consider debt consolidation if struggling with multiple debts at once. For example, if a household has trouble paying down a student loan debt, a mortgage and a payday loan, it might make sense to combine all these loans into one and pay a single monthly lump sum. However, for low-income households, this might not be an option as the lump sum usually tends to be quite high.
The easiest way to pay down debt is to start paying off highest interest generating debts first, and seek extensions or grace periods for lower interest loans. Usually, if the interest rate is low on a particular debt, that mostly likely means the loan is secured. It’s much easier to renegotiate secured loans than non-secured ones like personal installments loans.
Ultimately, debtors will have to make major lifestyle changes to pay down any debt. This means making cutbacks across household expenses by eliminating all unnecessary expenses. Extreme frugality for three or four years is worthwhile if it helps someone be completely debt-free.
Broadly speaking, UK property buyers can learn a lot from the US housing market boom and bust. Primarily, that such a thing is still possible in the modern world of financial regulation (or lack thereof). Secondarily, that the vast majority of market players – here we mean buyers, seller, mortgage lenders, banks, financial advisers, property managers etc. – can continue to treat the situation as continuing growth without any sense of acknowledgement that busts do happen, and that they usually happen against a backdrop of shocked and shamefaced economic experts. In a documentary released three years after the US financial crisis, many of the key economic players admitted in courts of law that they knew what they were doing could have grievous effects. But if you are an average property buyer who is buying only your first or second home, what can you learn from the wheeling and dealing that led to the US crash?
First, be aware that incredible numbers of families were evicted and their houses repossessed during the crash: not because of a raft of extraordinary circumstances; but because of fairly ordinary circumstances. Alongside the bust, many thousands of American workers lost their jobs, and couldn’t keep up with loan repayments. The fault wasn’t with them so much as with mortgage lenders that were successively offering riskier and riskier loans to homebuyers. Mortgage lenders were able to do this at a profit because so much of the risk in the US property market was several times removed and displaced. The eventual vulnerability to the inevitable loan defaults passed through several hands as packaged risk investments until those packages were sold to individual pension investors with an unmerited credit rating. The take-away from all this? Don’t assume that a lender who seems more generous is offering you the best loan for your situation. London housing prices have skyrocketed to record levels, but as far as possible, don’t overstretch your ambition to rely on your best-case economic scenario over the next twenty years. Leave yourself some room to breathe and bounce back. Use this online mortgage calculator tool to figure out what your cautious and extended price ranges might be.
Since the global financial crisis, London property prices have soared by an average 40%. But this incredible boom in housing sales hasn’t been matched by wage inflation. UK nationals have apparently been compensating for this partially by spending a higher proportion of their growth-stunted incomes, and saving less money than ever before. But this is inherently unsustainable. A higher disparity between average wages and average house prices will inevitably increase risk of more loan defaulters. The situation here is certainly not as severe as it was in the US, partly because our risk-selling industry is marginally more regulated than the US sector, but UK homebuyers would do well to either budget for a mortgage well within their means, or, if they can wait, postpone buying for the next couple of years while that disparity closes.
An investor who does not consider adding property investment to his portfolio is missing a crucial piece of pie. According to a study done on British entrepreneurs, 30 percent of them said that channelling funds towards real estate is the best investment for the long haul. This reveals that property investment is an important addition to an investment portfolio. So, what are the roles a property can play in a given portfolio?
Increasing Values of Home Properties
There is always a high demand for housing in metropolitan areas since it is a major factor in determining the economic health of a given block. As we watch improvement in job creation opportunities, investments and other signs of positive growth in the economy, the demand for housing is increasing concurrently. Therefore, the investors must recognize that they need to fill this gap and shrink the supply-demand deficit in real estate.
Tax-free Cash Flow
In property investment, there is often depreciation and reduction of mortgage interests due to deductions. This means that the cash flow from property investment is likely to be tax-free in the end. It may seem quite elusive to believe because most investors recognize the tough taxation rules provided by the government. However, you can watch your portfolio grow each day with continuous cash flow in real estate without having to brush shoulders with the tax department at any point.
Renting on the Rise
A market research by Pricewaterhouse Coopers reveals that more investors believe renting is on the rise among consumers nowadays. This has been fuelled by the rise of single family homes as an investment opportunity among entrepreneurs who are looking forward to expanding their investment portfolio. As a result of this trend, more people see a lucrative opportunity by investing in property. Some people even refer to it as leverage for retirement.
Guaranteed High Returns
Property investment is among the low-risk investments that offer high returns. In the UK, a property owner is guaranteed of a 15 percent return on his overall investment during the first fiscal year. This number increases to 30 percent for the next year. Most property investors break even by the end of the fifth year. This means that property investment is a guaranteed profit raking venture if managed correctly.
Everything about property investment is simple. From the development process all the way to the purchase point, you don’t need to sweat or scratch your head off to make things work. At the end of the day, everyone wants something that can give them serious money without having to put in too much effort on it. However, you can contact other companies that offer advice on wealth management and protection if you find the whole thing overwhelming.
In simple terms, investing in property should be at the top spot when considering expanding your portfolio because you are guaranteed of positive outcome all the way.