A *VERY* Important Success LessonWritten by Jason Oman
Want to learn one of MOST important lessons I ever learned from hanging out with multi-millionaires and spending more than 11 years of my life studying success and wealth? Well, as a result of doing what I do for a living and from doing everything to create my best-selling book 'Conversations with Millionaires' I've been able to spend time with quite a few highly-successful entrepreneurs. In addition to that, I spent over 7 years of my life (prior to experiencing an real success for myself), searching for elusive 'secret' to wealth and success... But, after meeting and hanging out with these wealthy millionaires and money-making experts, and from going through more than 237 books, programs, wealth seminars, and workshops I finally discovered that true secret boils down to this... If you want to become more successful, key is NOT necessarily to have everything figured out before you start going. Success can really be a lot more like rock climbing than planning a trip sometimes. You see, when you sit down to plan a trip like a family vacation or something, you may want to spend time to plan out everything in advance. You may want to know exactly what roads to take to get wherever you're going and things like that. But, wealth and success can often be more like Rock Climbing than a family vacation. Because someone who is about to climb a rock may not even know 99% of path they'll take. They may just know that they need to head North (ie. "Up"). But, they won't know which path up rock will get them to top. So, what they do is find a hand-hold that is 'good enough' to get started with and a place to put their foot that is 'good enough' to get started with. Then, from there, they figure rest out as they go. Now that they're 'up-close and personal' with journey, it's easier to see what next step makes most sense. Of course, I'm not trying to take away from concepts like "good planning". But, what I've discovered can be just as, if not MORE important, is to just barrel down and take that first step. Just GET GOING! Because you can have a great plan and still not take any of steps. Obviously, that won't get you anywhere either. Or, you can simply take first step and figure out next step from THERE. And if you do it this way then at least you're a step further ahead than if you took no steps at all. Plus, from new perspective you have after taking that first step, it's often easier to figure out what next step is. What I'm saying is that getting on road to wealth and success is sometimes more about doing whatever you can with whatever you ALREADY have and what you ALREADY know, than it is about waiting to get started because you may not have every step figured out yet. Does that make sense? Because doing THAT is how you learn next thing you need to know most! The reality is that you know a lot more than you give yourself credit for. You already HAVE more than you realize. You're already capable of much, much, MUCH more than your current results reveal. This isn't about a PEP talk or anything, either. This is about putting your nose to grind stone and doing ONE single thing ALL successful people do! What is it? It's simply taking ACTION! Taking a step forward. Success is nothing more than consistently taking steps forward. Then, over a period of time, results from those steps build upon themselves to equal success. (And time is usually faster than you would have thought.) I know - I know. You've heard that it's all about 'taking action' 50 Gazillion times before, right? But, then why aren't you doing MORE of it? Why are you still looking for some OTHER 'secret'? Why do you spend more time looking for some magical way to get 'beamed up' to big time, than you do taking steps to GET to big time? Here's something I call... "The Fast Track To Success and Wealth". The secret is to start taking action NOW. Start taking steps forward NOW. Do something with whatever you ALREADY have, and do it NOW. Because when you do that you will turbo-charge time it takes you to become more successful.
| | What Is Meant By A FICO Score?Written by Tim Gorman
Your FICO score or credit score as its commonly called is a very important calculation that can control whether or not you are eligible to receive credit and if eligible terms you can receive credit under. Failure to understand impact this score can have on you future purchasing power and lifestyle can be disastrous. This article will break down all information you need to know regarding your FICO score.As I mentioned above FICO score is a numerical score that is based on your financial history as collected in your credit report. Creditors can use this number to evaluate whether or not you are able to pay a loan back on time. The higher score more likely you are to pay off a loan on time and less of a credit risk you pose. The FICO or credit score ranges are broken down as follows: 720-850 - This represent best score range 700-719 Able to obtain favorable financing terms 675-699- This is still a decent score range 620-674 May have trouble obtaining favorable credit terms 560-619 May have trouble obtaining credit 500-559 Time to improve your score Your credit score is broken down into 5 distinct categories each with their own importance based on a percentile. The 5 categories and percentage they represent I relation to your credit score are as follows: Payment History 35% Amounts Owed 30% Length of Credit History 15% New Credit 10% Types of Credit Used 10% Your payment history contains information on credit cards, retail accounts, installment loans, finance company accounts and any mortgages you may have had. It also details any past due accounts and amount owed on hem. You will also find bankruptcy information as well as other adverse information in regards to your credit history. This is why it warrants a 35% piece of pie. Your amount owed is generally speaking amount owed on any accounts you currently have and number of accounts with balances. Note that it has a large impact (30%) on your credit score. The length of your credit history details when accounts were opened and last activity on those accounts. New credit shows number of recently opened accounts by type of account and number of account inquiries. Finally type of credit used is a snapshot of what types of financing you have held.
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