Down payment

Is It Better For Your Finances If You Skip A Down Payment On Your Home?

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Down payment. It’s two little words, but they have a big impact on the type of mortgage that you’re going to have. A lot of people right now are thinking about buying their first home, and that’s definitely a good thing. We want people to enter the world of real estate because it’s an investment that stays with you for a long time. It’s also a sense of knowing that you’ve accomplished a major goal in your life. However, in order to get to that point, you’re going to have to tackle the down payment.

A good down payment has always been 20% of the total price of the home in question. That might not sound like much, but it’s $40,000 on a $200,000 dollar home. In higher dollar areas of the country, a down payment on a home can be something that takes nearly a lifetime to save for unless you just happen to have a lot of money and the power to save it long enough to make things happen.

Yes, you can go lower than 20% but you’ll have to pay private mortgage insurance (PMI). PMI is not for your benefit, it’s for your lender’s benefit. It’s very easy to brush this tiny amount off, but the truth is that it adds up over time. Remember that you’re going to have to pay this amount until you’ve built up 20% equity in your home or better. That could take quite a few payments, a lot more than you think. You don’t want to find yourself in this position where you’re simply tossing good money after bad.

However, you also want to look at the status of the home that you’re thinking about. It might be worth your while to pay less of a down payment and then focus on repairs, or even buying furniture. Let’s face it — if you’re just starting out, you’re probably going to want to replace the furniture that you’ve accumulated over the years.

We really want you to be able to take care of the home that you have in mind, which is why the subject of a down payment is something that needs to be fully fleshed out before you proceed. It’s not a black or white answer — you can’t just wake up and decide that you won’t pay a down payment, just like you can’t wake up and decide that you will pay a down payment on the home. You will want to talk to your real estate agent as well — they’ve done dozens of transactions over the years, which means that they can definitely help you figure out the best way to go. Tapping the expertise of others isn’t a sign of weakness at all — on the contrary, it’s actually a sign of strength.

At the end of the day, you really have all of the power in the world to make a good home purchase, and you also have all of the power to make your home purchase a nightmare through lack of planning — we know which scenario we’d rather have, how about you?

Payday-Loans

To Borrow or Not to Borrow in Payday Loans

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You may have recently found yourself in dire straits financially. You may also be considering getting a loan. Below is some information to help you ultimately decide whether to borrow or not to borrow in payday loans.

Payday Loans are Gaining Popularity

It seems as though everyone is in need of a payday loan these days. Whether it is for unexpected medical emergencies or unanticipated car repairs, it seems as though many people are short on funds. Almost anyone can borrow a payday loan it seems, but there are several things to keep in mind before you decide to make that decision. First of all, even though these loans seem like easy money they aren’t. You can receive the money quickly, but you must also pay it back quickly. They are ideal if you know that you will have the money when it comes time to repay the loan. If not, these loans can easily put you in deeper debt. If you know that you can afford the extremely high interest rates of the payday loans, then by all means get one. You just want to carefully consider all of your options so that you don’t hurt yourself financially.

Some Benefits to Borrowing Payday Loans

One very nice thing about payday loans is that they are unsecure loans. This means that you do not have to put up collateral to receive one. As long as you have a steady job and are receiving a paycheck, you can usually get a payday loan. Your bank account works as a type of security for the money that you are loaned. These are usually loans for a small amount and are expected to be repaid in a short period of time. As stated earlier, anyone is usually eligible for one of these unsecured loans and there is no credit check that accompanies them either. Even if you have formerly filed bankruptcy you can apply for a payday loan. This is very convenient for people who have bad credit or no credit at all. When you apply for a payday loan many times you will be asked to authorize the lender for a direct withdrawal from your bank account on the day that you are due to repay. You will have to be absolutely certain that you will have the money in the bank at the time of this withdrawal or the check will bounce. This could end up putting you in more financial debt than you were in to start with. That is why you will have to consider all of these issues very carefully.

Of course it is best if you can find other ways to make ends meet without having to take out a payday loan. But sometimes that is just not possible. That is why there are so many lenders online now ready to assist you with your financial difficulties. Before making a final decision, just be sure that you have thoroughly checked into all of your options.

Personal Loan and Its Several Types

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Loans have become a regular survival means for so many people these days.  Considering the present global economic scenario, you will think that majority of people are taking a chance on loans.  Loans are often understood as a temporary solution to one’s financial problems and they have to be paid within a specified period of time.

Also due to the poor condition of the economy, some mortgage rates have dropped, but lots of people try hard to avail of several loans as they can just to be able to surmount adversity in life.  Since quite a number of people are need of several loans, this has prompted loan companies to offer different types of loans.  The loans come in different loan packages and these packages have distinct features that set it apart among others.

The loans that were recently introduced cater to very specific purposes.  Some people obtain home loans, car loans and personal loans while others take student loans, payday loans and debt consolidation loans.  These loans are also subdivided by loan companies to make it even more specific, and they practically differ in terms of payment as well as in interest rates.  What’s good about loans these days is that they can be adjusted in accordance with the borrower’s needs.  For instance, in a home loan, you may choose to pay it for 5 years or for as long as 30 years.

The several types of loans can fall under two categories, namely, secured loans and unsecured loans. Secured loans refer to loans that can only be granted if there is collateral and the collateral may be in the form of a house, car or any valuable property.  Secured loans have low rates of interest, and you can settle it for a much longer period at affordable equal monthly installments.  The only risk in a secured loan is that in the event of missed payments, the property that you presented as collateral may be foreclosed.

As for secured loans, collateral is not required, but this means higher interest rates as the risk is bigger for the loan companies.  If you opted for an unsecured loan, expect that your privileges will be limited and that this does not spare you from losing your properties in case you fail to settle your loan.

Although these loans have different purposes, most of them are still similar in some ways.  For instance, most loan companies require borrowers to have a pleasant credit rating.  However, there a loan companies that still grant loans to people with bad credit rating, but at a much higher interest rate.

Balancing Your Budget and Your New Debt Consolidation Plan

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Balancing your budget and your new debt consolidation plan can be a lot more difficult than it might seem. After all, there are really a lot of different things that you have to think about from every corner, like how your family will be affected in both the short term as well as the long term. It’s one thing to make a few changes, but do those changes need to be permanent? Some would say no — you might make changes for the first few years while your debt consolidation plan is active. However, a lot of people go right back into the same habits that they were in before the debt consolidation plan was even created, and that’s where the trouble starts. You can’t see debt elimination as a short term thing. You have to see it as something that’s going to be done for the rest of your life. You will want to think about how you spend money, and you will also need to think about how you save money. Building another income stream is what others turn to when they’re really trying to build security for their families, so that’s not something that you just want to ignore either.

What makes debt consolidation fail for a lot of people is that they think that they are going to be able to go right back to the type of spending that got them into trouble because they “know better” now. However, that’s not the way debt works — if you spend more than what you make, you will have debts. That’s the problem that has to be addressed before you can do anything else in life, and most people just end up skipping over them. Do you really want to create that type of stress for your family? Of course not.

It’s a lot easier to balance your budget and your debt consolidation plan from the very beginning. You might need to call a family meeting, especially if there are activities that the whole family enjoys that need to be cut in order to make things work with the new plan. If you pay more than what the monthly plan requires, you will naturally be out of debt faster. Unfortunately, a lot of today’s families don’t have the willpower to do without the things that they really love for that amount of time. It’s going to be something that could be a challenge for your family, but it really is quite worth it in the end.

The first thing that you will want to look at is what you spend on the “fun stuff”. No one is saying that you will need to cut it all out of your budget, but you will need to step back and really make sure that you can do your debt consolidation plan in light of those activities. Which one is worth more to you — having a debt free life, or being able to go to the movies once a week? After a while, you’ll see that it might hurt for a while, but a debt-free life is definitely the better option.

Don’t forget the power of groceries, either — we tend to spend a lot more at the grocery store than we think on food that can end up getting wasted. You don’t want to just keep throwing money into the garbage. You might need to scale back on buying bulk deals if your family isn’t using the perishable products fast enough. When you get home from the store you can always break down packs of bulk meats into smaller bundles. This speeds up cooking too because you don’t have to rummage around looking for the right portions to cook. Once everything is broken down, it’s just a matter of cooking it in the methods that work best for you and your family.

If you live in a hotter part of the world, making sure that your food stays cool is important as well. The heat can really break down otherwise perfect food, leaving behind a mess that has to be dealt with quickly for the best results possible.

As you work through what you’re spending, you might also want to step back and take some time to look at what you’re actually earning. You might not think about it, but the way you act at work has a direct effect on how much you make. if you are only showing up to do the bare minimum for your position, then you’re definitely not going to be the person that they think of when it’s time to promote someone. That’s a real shame, considering that you would probably make an amazing supervisor, or whatever the next role up in the chain is. Don’t think so? That might be the root of why you’re not getting the promotions, money, and praise that you deserve. It can take a lot to change your thinking, but you have to believe in yourself before anyone else will believe in you. That’s just the way life goes!

Can you really balance your budget and your new debt consolidation plan? Well, we definitely think so — why not put the tips into action today and see for yourself?

The Folly of Hiding Money From the Government

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The more we hang out in the world of personal finance online, the less things actually change. Sure, more and more people join the movement of taking back their lives and fixing their credit, but some things never really change. There is a folly going around that you need to avoid right here, right now: it’s the folly of thinking you’re going to be able to hide money from the government.

Now, we all have our different views on politics, and this isn’t about that. It’s about realizing that the government has a lot of resources to track money. It’s got a lot of incentive to make sure that you’re as honest as possible. There’s no such thing anymore as hiding money — even offshore banks have been smacked around by the government and ordered to give up records on who is holding what, and how much they’re actually holding. So instead of thinking that you’re going to get away with some twisted tax evasion plan that you read about online, think about this again.

The reason why you can’t hide money is because there are plenty of tattle tales. Remember the last time you got a bunch of money orders to pay bills? You were probably asked to show ID and social security number. This is because that information has to be passed along to the IRS. They want to make sure that you’re declaring every last dime you have so that if you do indeed owe taxes, you’re going to pay them like a good little citizen.

There are legal ways to pay less taxes — don’t go to extremes by assuming that you have to cheat and lie about income. This is only going to make your life hell when the government finds out. Not only will you owe the original taxes, but you’ll also have late fees and penalties waiting for you. It’s better to just suck it up, hire an accountant, and brace yourself for the tax bill. Think of it as the cost of working in the country you call home.

We wanted to keep this one pretty short and sweet, because there’s not much else that needs to be said — don’t get sucked into Internet memes about hiding money. If you really want to get out of debt and make money, you’re going to need to be as honest as possible. As a parting note, did you know that if you settle your debts, the settlement company will file away to the IRS that the portion they forgave is taxable? Yes, it’s true — if you get 5,000 forgiven, you can bet that the $5,000 will be considered income. That can be a slap in the face when you’re actually trying to get out of debt, but hey — it is what it is, right?

As always, you have a lot of options when it comes to reducing debt and saving money. Make sure that you consider all of your (legal) options carefully and then make the best decision for your own needs. What more can you do?

Surprise! Your College Student Has a Credit Card – Now What?

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No parent likes surprises, but they’ve grown to deal with them after raising children. Children seem to always find a way to surprise us, and there are just times that you’re going to have to be reactive instead of proactive. It’s just the name of the game, and you shouldn’t let it stress you out.

So, how do you really react when you find that your college student has a credit card? Your first reaction might be panic but it really shouldn’t be. After all, you have to step back and think about the type of lesson that you’re really teaching your child. If you teach them that panic is the order of the day, then they’re always going to be worried about their personal finance strategy. On the other hand, if you show them that you can have a credit card and be responsible, then they will make better choices in the long run.

First and foremost, you need to sit down and talk to them. Yelling is going to only make the problem worse. If you start yelling, even for a moment, they’re going to assume that you’re the enemy. That you don’t understand them. That their friends at college are right. This will also probably be the last thing that they admit to you. If you prove to them that all you’re going to do is yell and berate them, making them feel terrible, then all you’re going to get are secrets and very brief answers.

Let them know that it’s perfectly okay to have credit cards as long as you know that you have to pay them back. You need to explain how credit works — that you’re essentially getting a loan from the credit card company. You’re using their money, but it comes at a price. When you pay the credit card off, you’re paying back the “loan” in full — with plenty of interest to go around.

When you pay back the credit card in full, you’re basically telling the credit card company that you’re a good person. Over time, this means that you’re going to be able to get more money (credit) from them. In fact, if you hold on to this strategy long enough, your credit score will go up. A credit score is just something that other lenders use to see if you really are a good person as far as paying back your debts goes. If you’re someone that pays back their debts late or even not at all, you will have a low credit score. This tells lenders that letting you borrow their money might be risky. Of course, lenders know that you might have moments where you need money anyway, which means that they still have a customer. They’re just going to hit you with a higher interest rate than they might someone else.

If you paint an actual scenario for your teenagers to understand, they’ll definitely spend differently than if you just let them run hog wild with the credit. In addition, you will need to let them know that you are not helping them with the credit card. It might sound cruel, but since they’re adults, they need to learn responsibility. If they just start charging everything thinking that you’re going to pay the bill, they’re always going to run to you for everything instead of solving it on their own. They are no longer children that need that level of instruction, so why would you want to hurt their long term chances like that?

It might seem harsh and cold, but these are actually the best lessons that you could possibly teach your children — why not get started today?

Bankruptcy Isn’t the Best Solution

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What most creditors don’t like to see in a borrower’s credit record is bankruptcy.  When you file for bankruptcy, expect that you will have to deal with a very low credit rating for many years.  This will stay on your record for about 5 years to a decade and this will really have a big impact on your financial dealings.  You’ll definitely have a hard time obtaining mortgages and loans, and if ever you’ll be granted one, you have no choice but to pay very high interests.

However, there are rare cases where people who have filed for bankruptcy can already acquire a loan just after a few months and after a bankruptcy protection has been filed.  The reason behind this is that some creditors have a notion that after a borrower opted for bankruptcy, he or she will already avoid getting into serious debt problem.

In filing for bankruptcy, a lot of preparation is needed.  For instance, you need to postpone your plan if you still have scheduled important payments in the coming weeks or months.  This is because any payments made to your creditors during the last 90 days can still be recovered by the Trustee.

You should also be aware that before you can exempt your home, it must be in your possession for over a year.  If you are living in it for just a couple of months, you might want to again postpone your filing of bankruptcy.  Otherwise, you’re giving the Trustee the right to seize your home and the proceeds will be split among your creditors.

If you think that bankruptcy is the best way out, well, fortunately, it’s not.  One of the best debt solutions that should consider is debt negotiation.  Debt negotiation is a process wherein you have to get in touch with your creditors even before they employ debt collectors.  Do not be afraid to talk to them as they actually appreciate this kind of move.  Call them up and talk about your current financial status.  Tell them what has caused delays on payments, such as you were retrenched from your job, you just filed a divorce, or you had to pay for hospital bills.  You may ask them to rule out the interests and charges and just pay for the principal amount or lower your monthly repayments.

When negotiating with your creditors, also do mention that you’ll be filing for bankruptcy in case you fail to finalize an agreement with them.  This will make them fall for your proposition because they would rather accept it than receiving remainders from the Trustee.

Cash Advance

Warm Up Your Winter the Easy Way with a Cash Advance!

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Winter is a time for being with your family, spending time with friends, and otherwise taking a break from the usual busy processes of life. As nature takes a rest, you might want to think of doing the same. However, there’s one thing that just doesn’t seem like it wants to take a break, and that’s definitely your bills. When you find that you just need a little extra money to make sure that you can make ends meet, you end up not being able to get everything you need to get accomplished. However, does it really have to be that way?

If you arm yourself with a cash advance, you don’t have to submit to that type of fate. You will be able to get everything taken care of and pay the loan back once your payday comes in. You won’t have to worry about being able to make ends meet, because you will be able to get cash when you need it.

Yet if you think that your next step is to run down to that check cashing place on the corner, you are definitely in for a shock. You will need to make sure that you actually don’t go down that route. The better option is to stay right in your home. Now, at first glance you might wonder what your home has to do with anything. It’s simple: you need to go online instead of going down the road to get a cash advance. For starters, the terms online are a lot more competitive than they are offline. In addition, you can also get your payday loan approved faster and the money sent out to you quicker. Do you really want to wait until the last minute to take care of these outstanding bills? Definitely not.

The best benefit to applying online for a cash advance is that you can do so from the privacy and comfort of your home. This means that you won’t be wasting gas, nor will you have to deal with the judgmental looks on strangers’ faces. It’s just you, the internet application, and your future cash advance money — just the way it should be.

Now, if you’ve never applied for a cash advance online, you might worry that it’s going to be difficult, o that you will have to answer a lot of questions. The bottom line is this; all the cash advance lender is trying to make sure of is that you will be able to repay the cash advance when it comes due. This means that you will need to have stable income. There are even some places online that don’t even require you to have a job. This means that if you are on a fixed income from the government, you could still technically get a cash advance.

At the end of the day, you have a lot more control over your finances than you might think. If you really step back and try to focus on the big picture, there’s really no limit to what you can accomplish — why not get started today?

Is a debt consolidation loan the most suitable option?

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It may sound surprising, but sometimes the best way to make your debts more manageable is to take out another loan. A debt consolidation loan enables you to pay off multiple existing debts, thereby combining them into one.

There are two main reasons why you might want to consolidate your debts in this way:

It could reduce your monthly outgoings

You may be able to make your monthly payments smaller by spreading them out over a longer period of time. For example, if you currently have a number of debts that are going to take three years to repay, paying them off with a new loan and repaying it over five years could significantly reduce the amount to be paid each month. Just bear in mind that paying interest for longer means paying more interest, so it can cost you more in the long run.

It could make budgeting simpler

A lot of people find that one monthly payment is a lot easier to budget for than several different payments, especially if their existing debts have different repayment periods and interest rates. One debt with one interest rate and a fixed repayment period can make it much easier to see when that debt will be cleared.

Is it right for me?

If you’re considering a debt consolidation loan, keep in mind that it’s only really likely to help if your finances are in good health. If you have any real financial problems, a new loan might just delay those problems – and you may well find yourself struggling again further down the line.

If you have genuine problems repaying your debts, then a debt solution designed for those circumstances (such as a debt management plan or Debt Relief Order) may be more appropriate.

But if you simply want to change how you repay your debts, or reduce your monthly outgoings, and you’re confident you can afford the repayments, a debt consolidation loan could help you.

Alternatives to a debt consolidation loan

0% balance transfer credit card

An interest-free balance transfer credit card enables you to transfer existing credit card debts onto the new card and repay the combined debt without interest for a certain period (often in excess of a year). This means the whole of each payment you make goes towards repaying the debt itself – and not interest.

However, this is only likely to be suitable if you can afford to repay the debts in full within the interest-free period. Once the interest-free period ends, your credit card will revert to a ‘normal’ interest rate, which could significantly increase your overall costs.

Other debt solutions

As we’ve discussed, if you’re having real problems with your debts, taking on new debt is unlikely to be a good idea. Instead, you should look into alternative solutions designed to deal with unmanageable debts, such as a debt management plan or an IVA (Individual Voluntary Arrangement).

Useful resources:

Don’t Let the IRS Scare You Out of Your Dream of Retirement!

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When it comes to retirement, one of the first things that people think about isn’t the life that they’re going to have when they actually retire, but how much money they will have left after big bad Uncle Sam and the IRS take away all of their hard earned savings. Why, if you listened to a lot of the chatter around the classic office water cooler, you would think that there’s just no reason to save for retirement. However, is that really the case? The reality of the matter is that you will need to build your own golden nest egg on your terms, without letting the IRS scare you out of your dream of retirement. It’s really that simple, but if you don’t believe us, the tips and pointers in this guide should be a clear example of what we’re talking about.

You see, it’s true that the IRS does want you to put away money for retirement. In fact, they even offer a few retirement vehicles for you to do this in a clear and straightforward fashion. The last thing that you want to do is to just throw your money into an account that not only doesn’t bear you must interest, but also makes it difficult to actually save anything for retirement. You could end up paying more in taxes by not paying any attention to the retirement game and the vehicles necessary to play than anything else in the world.

So, how do you actually make out well in the retirement game while simultaneously avoiding upsetting the IRS and having them come down on you?

Well, first and foremost, you will need to make sure that you actually put your money in a true tax-exempt or tax-deferred retirement account, such as an IRA or 401(k). Now, if you’re self employed, you will want to try to set it up so that you can benefit from both types of retirement vehicles. As long as you follow the rules for your tax situation, you will not have to worry about attracting negative attention from the IRS. Even if you are audited, the key is to keep good records and make sure that you can stand by your word no matter what. This will make all the difference when you’re really trying to pull off something amazing with your retirement account.

By using retirement vehicles, you will be able to take advantage of a global market. This means that instead of just throwing your money into an account and not thinking about it, you will need to make sure that you really think about how your money is being invested. It’s your money — why leave it to an investment advisor that isn’t as invested in the money and its health as you are? Will the broker lose sleep at night if you can’t tap your retirement fund to pay for your child’s college education? Probably not.

Staying informed is a key step in making sure that your retirement account works hard for you, and not the other way around. At this point, you might think that you will have to do all of these things on your own, but that’s really not the case at all. The reality of the matter is that you will need to contract the services of a good CPA in order to get the most detailed and tailored information for your unique tax situation. This advice presented here is general, and should never be the only thing that you go on if you’re drop dead serious about getting things done with your retirement account. In addition, new laws are developed and executed all the time when it comes to taxes, so a CPA is truly the best source for the freshest information around.

Overall, if you’re really ready to move forward, then you would really do well to pay attention to the tip sin this guide — why delay another moment?

Bankruptcy - to scissors a credit card

How to start eliminating credit card debt

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For some, credit card debt can become a lifelong punishment for living well beyond their means. However, it doesn’t have to be that way. There are solutions and methods to eliminating credit card debt for good. In fact, the approaches to eliminating credit card debt are very simple and straightforward.

You will eliminate your debt and end your reliance to living on credit. It’s not a question of if you’ll eliminate that debt, but when. Given the fact that living with credit card debt simply isn’t an option you’re willing to accept, here’s what you can do to put a plan in motion to eliminate your debt for good.

Make a decision to end your spending ways. The first and most important decision is to end your dependence on credit. Part of the problem stems from confusing needs with wants. You may want something, but most likely don’t need it. In a world where credit was free and plentiful, everybody took the approach of paying for it later. Unfortunately, later never came and the resulting debt became too much to overcome. The first and most important decision is to decide to end your reliance on credit. If you’ve made that decision, then the rest that follows will be that much easier.

Eliminate credit card access immediately. Cut up those credit cards immediately. Write down all your credit information and keep it in a safe and secure place. This is not about whether you can control your spending urges, but more about not having to. The only way to ensure you don’t buy on credit is to not have access to credit. If you happen to be an individual who can’t control how you use your credit cards, then this is likely the only option available. If you can control it, then ensure that you retain one credit card with a small credit limit and use it only in emergencies. It’s important not to cancel any credit card before the balance is paid in full. In some cases, cancelling a credit card too soon, or before you’ve paid off the outstanding balance owing, can negatively impact your overall credit rating.

Concentrate on the smallest balances first. There are a ton of credit advisors that advocate paying down the largest outstanding balances first. Unfortunately, this takes time and can become a tremendous source of frustration. However, another approach is to concentrate on the smallest balances first. Why? You want success and there’s no better sign of success than being able to pay down a credit card balance and close that credit card completely. Even if the balance is small, this is more about building momentum and having a sense of accomplishment. Pay down those smallest balances owing and then immediately close the account. This will not only help alleviate debt, but will help your credit rating as well.

That’s about it – there are no magic cures and no quick solutions (unless you happen to win a lottery) to getting rid of your credit card debt. The only things you need to start doing immediately are cutting your need for credit cards and starting to pay off the current debt, from the smallest balance to the highest. With time, you will definitely become debt-free!

Financial asset

Your Career Is Your Biggest Asset Financially – Are You Protecting It

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If you asked people what their biggest asset is, chances are good they would tell you it’s their house. Or maybe it’s their line of nice cars. Those are both nice things. Some people even talk about the money they have in their bank account without realizing where the money actually came from: their career, of course!

The honest truth is that your career is actually your biggest asset financially, and in order to keep growing you’re going to need to protect it. The wrong decisions in life can change our career like crazy. For example, how many times have you seen someone on track to do great things, and then they marry someone that doesn’t have the same type of goals? It becomes a disaster and the fallout takes years or even decades to recover from.

We’re not saying that you have to be single and 100% focused on your career to have a great life. We’re just saying that the people you have around you also play a role in how well you do in your career.

To protect your career, you need to start being as strategic as possible. Yes, it’s tempting to just assume that you can do anything you want, anytime you want. However, there are consequences to every action you want to take. If you think that you’re going to always be able to do what you want, then you’re in for a world of trouble. Even the self-employed and entrepreneurial minded are going to have to realize there are steps that need to be taken in order to have more control over their lives. Yet more control isn’t always a good thing either — if something fails, it’s your fault. If something doesn’t go right, it’s your fault.

If you have no plans of starting a business in the future, that’s perfectly okay. Even though we’re big proponents of making your own money on your own terms, you should realize that sometimes it’s best to stick to what you’re good at. Businesses take a lot of time, a lot of money, and a lot of focus. The last thing that you want to do is try to assume that you’re going to just jump into something that you really aren’t that interested in. Once you get away from the glamorous associations, you’ll actually find that running a business is a lot of hard work. So you have to be super excited and passionate if you’re going to survive the process.

So, what do you really want to do? Your career is something that’s so critical, but a lot of the time you don’t have enough time to really stop and think about how to move forward. Remember that you don’t have to make the decision alone. You have a lot more support than you think when it comes to your career. For starters, your manager should be helping you shape your career as it directly relates to the company. You might assume that there’s no reason for them to do that, but you’re actually quite mistaken. The reality is that they are going to have to help you build your career as it relates to the organization because that way, you’re more productive. Your morale is higher, which means that you’re more likely to push hard to really get things done in the company. Yes, there are some managers that feel that you could threaten their job someday. However, if they’ve got a positive attitude and their own goals, they’ll want to grow and move on to bigger and brighter things too!

Always ask about training opportunities and leadership opportunities. If you really asked a lot of management types what the keys were to them rising up the ladder, it would definitely be focused around always learning something new, and doing more than just the bare minimum. Yes, there are going to be days where you show up to work and you really don’t feel like doing much of anything. However, you’re going to have to just push those thoughts out and think about your career and what you actually want. If you want those consistent raises and promotions, you’re going to have to dig down deep and push forward no matter what. It’s not about how many times you don’t feel like doing things — it’s all about doing what you need to do, when you actually need to do it.

That’s really all there is to it — are you ready to protect your career? Your assignment, should you choose to accept it, is to write about all of the things you like about your career and how you think you can move your career forward in the next three, six, nine, and even 12 months from now — or even longer, if you really want to go long term. These thoughts are going to help you stay on target as you deal with the ups and downs of work everyday.

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