Should I Borrow, or Do Something Else?

Many people have noble objectives but it is tough to make them a reality because of adverse financial circumstances. Hence, they typically approach credit institutions for necessary backing, albeit with varying rates of success. There are numerous loan types to choose from, along with a list of lending corporations that offer them. However, with the appropriate fiscal disposition, acquiring credit should take relatively little effort.

However, these efforts sometimes prove futile on grounds of credit scores, security deposit requirements, income levels and other circumstances. Furthermore, upon approval, the dilemma of repayment becomes a heavier cross to bear – with respect to the risks involved with the venture and the absence of readily available repayment options.

Risks are inconvenient facts of life, and dealing with them becomes doubly challenging when a dead end is in sight. Loans are a viable source of funding, but can there be other ways that involve less risk? Are they any better?

Let us methodically discuss the potential alternative: Grants.

Eligibility for a grant does not require even one of the obstacles mentioned earlier when applying for credit. Truth be told, grants do not even originate from any loan establishment to begin with. Hence, no repayment is obligatory.

Instead, grant funding originates from government institutions or private philanthropic foundations. These organizations have an objective that correlates with helping people get back on track. A grant may be a sliver of hope as many lives have positively changed due to it.

However, there is no thing such as free lunch. There are some variables which undermine the viability of this alternative.

Hardly anyone knows that grants exist and even fewer know how they work. Moreover, eligibility requirements vary from one grant to another. Given an array of grants to potentially choose from, determining the optimum choice can prove to be exquisitely difficult. With the number of organizations to submit requests to, ascertaining the most effective writing style for a proposal is a daunting task. Essentially, it takes a degree of expertise and knowledge to facilitate navigation through these channels, and that is something that seems to be out-of-reach for most.

But then, the question still stands: Should one go for a loan or a grant?

It must be realized that the two options are not mutually exclusive. Thus, the question should rather be rephrased into which of the two must take precedence over the other.

From what has been thoroughly discussed, the following are clear:

1. Loans come with the risk of defaulting, while grants virtually come with none.

2. Credit applications do not automatically preclude the conferral of grants and vice-versa.

3. Grants come with no obligation for repayment. However, applying for one may be unmanageable for an average person.

With some assessment, the logical first-choice would be grants – only if one can find expert assistance for the application process. Honestly, it would be too cumbersome otherwise, so much so that the application period could have expired even before one actually finishes deciding whether to apply or not.

Confused About Which Oil Stocks to Invest in?

Lately, there has been much talk about the debacle that the company British Petroleum (more commonly known as simply BP) is in. An offshore oil rig of the said company suffered a total breakdown which has resulted into an apparently uncontrollable oil spill. Obviously, a multitude is wondering about which are the best oil stocks to invest in.

For the past month, BP oil stocks have been continuously plummeting on grounds of fears by stock traders that the company may be in no position to get out of this socioeconomic quagmire. Furthermore, the ensuing scenario has caused immense destruction throughout the Gulf of Mexico and surrounding areas since then.

However, there are a few things that a lot of people are missing out. Seemingly, a majority of them are more preoccupied at seeing the glass half-empty than seeing it half-full.

Before anyone starts to go into fits of speculation, note that of all the blue chip stocks, oil companies typically predominate. Whichever way, oil is something that nobody can live without. Oil is something that anyone is willing to pay for regardless of cost.

Assuming that BP will spend a billion or two throughout the cleanup, it is only a matter of time before the company recovers the amount and goes back with a big rebound. In essence, this is just an expected part of the business cycle.

People have doubts about the BP’s capacity to actually get through this mess, especially with the successive failures of their cleanup plans. However, in business, before corporate social responsibility, profitability takes precedence. It is quite easy to deduce that the BP’s game plan sequence was formulated based on total implementation costs of each attempt.

With respect to this analysis and to the question about how to invest in oil stocks, there are at least three ways to proceed:

1. Short-selling BP Stocks

BP may still take a while to fix this mess up. Ergo, it is reasonable to conclude that its stock prices will continuously plummet until then. Hence, short-selling is a common-sensical way of taking advantage of the situation.

However, the down side of this tactic is that the situation is already obvious. Hence, any self-respecting stock broker would have already instructed his clients to do such. Short-selling is more of a just-in-case plan. Though the chances of making immense profits on this one is quite unlikely, profit is profit whatever the amount.

2. Bet for the Opposing Team

If one goes down, the other comes up. That is the rule for any industry whose demand doesn’t go down. Since the pies never gets smaller, if there are less people sharing the pie, then everyone left will get a bigger chunk.

This translates to potential improvements in BP competitors’ stock prices, such as those of Chevron and Exxon. However, there are numerous miscellaneous factors affecting stock prices in general. These factors may overshadow this schadenfreude being felt by the oil industry minus BP.

3. Bet for the Underdog

Yes. Based on history, a rebound from BP’s end is quite likely. Hence, it is a reasonable thing to say that BP’s stocks will go up at a certain point in the future. When one hits rock bottom, he has nowhere else to go but up, right?

Furthermore, this is neither the first nor the worst oil spill in history, Exxon Valdez suffered worse back then but, in relation to stocks in general, it was little affected in terms of prices.

Essentially, any possible outcome may happen. Moreover, it is wise to consult a professional who can put into consideration all the possible factors before deciding which the best oil stocks to invest in are.

Bankrupt? Not Yet!

Bankruptcy is a very touchy topic for most people until recently. This concept is gradually becoming a harsh reality not just for big corporate entities, but also the average person. Companies have closed one by one, and more people get laid off from their jobs.

Bankruptcy should be considered only as a last resort. Bankruptcy proceedings can be subscribed to only once per decade, therefore emphasizing the reality that it is, and should be, the last bullet. Hence, one must exploit all other options before doing so, for the after-effects of a declaration of insolvency does not only ruin one’s chances of being approved for credit in the future, but also exposes a person to the social stigma that comes with it.

If a person sees that both ends cannot meet, perhaps due to the lack of savings or pension coupled by unemployment, there is another option: Unemployment Loans.

Unemployment loans can be any of the two types: Secured or unsecured.

Secured loans are charged with lower interest rates compared to the other. However, this loan classification requires collateral, while the other does not. Thus, a careful decision about which to avail is essential to minimizing financial risk. Additionally, unsecured loans come with a shorter repayment period of about 7 years, compared to secured loans whose repayment period usually lasts for a decade. Essentially, each type comes with its pros and cons.

There are requirements for unemployment loan applications. A person must have a checking account that has been active for at least 6 months and the person must be of legal age. As soon as the loan gets approved, funds will be immediately deposited to the checking account. Hence, personal loans of this kind are much easier to avail and are more responsive to the issue at hand.

However, remember that just like any other kind of financial aid, this is nothing that will ever resemble a free lunch. One must be absolutely certain that the element of necessity and the eventual ability to repay is present. Financial responsibility is an indispensable facet of economic progress. As a matter of fact, the lack of it is that which caused this whole economy to dip into this dire situation to begin with.

Tenant Loans over Credit Card Cash Advances

Unemployment is on the rise, and a lot of average wage earners are losing jobs at an unprecedented rate. In the worst cases, even basic human needs, such as decent shelter, are becoming increasingly difficult to meet. In everyday terms, it is now much harder to “pay the rent.” The quickest way to fix this is to utilize readily available credit lines, i.e. credit card cash advances. However, there exists a better alternative – tenant loans.

These loans work better than credit cards in 3 respects: Lower interest rates, friendlier repayment terms, and its distinction from revolving credit lines (i.e. credit cards).

Based on one’s credit score, these loans are offered at yearly interest rates ranging from about 7% to 18%, with a majority at 10.9%. Meanwhile, credit card rates range from 6% to as much as 37++%, with most rates ranging from 15 to 20%. Thus, on the average, a debtor who acquires this particular type of structured loan will have to pay less in the long run, compared to getting a cash advance from a credit card account.

Tenant Loans have more debtor-friendly repayment terms [7++ years] than credit card cash advances. Cash advances, though not containing strict repayment deadlines, have very stringent balance payment schedules. An exorbitant percentage of the current balance is typically required by credit card companies for a debtor to maintain good standing. With the former option, monthly income can be more flexibly budgeted as only a drastically smaller part of it will be required to service debt.

Furthermore, being a separate credit entity, these loans will free up one’s credit cards, thereby effecting two-fold benefits: cards may now be used for other more relevant expenses, and it minimizes these cards’ average daily balance. The reduction of a card’s average daily balance may seem to be a purely cosmetic benefit, but it can actually help improve one’s credit risk score.

All in all, tenant loans, as compared to credit cards, are more responsive to the immediate need for rental payments. Basically, it is saying than one can get the same thing for much, much less.

Getting a Car is Not Impossible

The global economy is on a big crunch and everyone can feel its effects. With delayed benefits and massive layoffs, it gets harder and harder to make both ends meet. Because of this, payments on credit cards and other loans by the average John Doe may sometimes get delayed, causing a big dip on his credit scores.

Loan applicants with low credit scores find it harder to get loans because they are deemed to be of higher credit risk based on the standards of most financial institutions. Those who fall under this category usually cease from applying for more loans right away.

But then, with respect to the current times, there are some things which one cannot live without. For people who live in country or those who work in the city but live somewhere out-of-town, access to mass transportation is very limited. Thus, having a reliable means of transportation becomes a necessity. But what does one do if he is just an average wage earner, hit hard by the economic crisis, badly needing a car, and got his auto loan application rejected?

There is an answer: a second chance auto loan. This is basically the similar to a regular auto loan, except that it comes with a higher interest rate in order to account for the higher credit risk. This allows a person with a low credit rating to be able to get a car, albeit at higher periodic payments. Nevertheless, this is a glint of hope for those who have already given up. It actually is.

One precaution must be taken before going any further, though. The loan applicant must do some research before going straight to a company that offers such loans. A lot of these companies offer this service just for the sake of making money, without consideration for the actual ability of the client to pay back. In short, this financial instrument is a double-edged sword if not done right.

So if you were someone who wants to have a car, ask yourself: How badly do you need it? If you really do, study all the options and ask experts. No matter how we put it, this is a chance to change your life… for the better.

The Best Alternative to Medical Insurance

Cosmetic procedures – these are things that a lot of people frown about. Most people regard these procedures as something that one can simply live without. Some argue that aesthetic surgeries are the realm of the superficial, that the best way to deal with this is to be contented with one’s self.

But then, is the right path to contentment and the choice of having such procedures mutually exclusive, or do they go hand in hand? This seems to be quite easy to answer, but if one answers this question in less than ten seconds, then he is answering it too quickly.

Some people are either born with an aesthetic defect, or have acquired such, to an extent that radically lowers their quality of life. Sometimes, even those that most see as trivial, end up as being positively life-changing for others.

For a person with a cleft lip whose profession has to do with sales and marketing, a simple reconstructive procedure can drastically improve his life. For a person who has a large and inconveniently-placed birthmark, that which undeniably impairs his or her social skills, a cosmetic procedure will do wonders. These are things which may initially look petty, but are real problems that some will need to face.

Unfortunately, health care in the modern world is not something that is friendly to the average person’s pocket. Thus, most people subscribe to medical insurance plans to deal with this fact. However, this kind of financial instrument has never been known to cover such procedures, as they are deemed to be non-life-threatening and thus can be set aside. But what good is a life that is not worth living?

So how does one tackle this financial issue? Surely, there must be a way.

Medical loans. These are credit instruments which allow a person to afford having these procedures without burning his wallet at the same time. Starting at 7.25% APR, these loans can be even more competitive that an actual credit card. Hence, getting that procedure that one has longed for his whole life is not impossible anymore. With medical loans, an average person can change his whole view of life into something that he wants and needs,

A lot of people say that vanity is the root of all evil, but there are numerous reasons not to believe so.

Let's Have a Gold Party!

If you are tired of fundraisers that’s time consuming and never seems to generate the amount that is needed, then maybe it’s about time to try holding a gold party.

Yes, you read it right, A GOLD PARTY!

Sounds unfamiliar? Well, for the uninitiated, gold parties are the newest fad to hit the fundraising train today.

Here’s how it works:

Contact gold buyers in your area to partner with you in the benefit. This will be beneficial through an agreement for them to donate a percentage of their purchases to your cause.If you are lucky, you come across buyers who are willing to foot the bill for the party – venue, food, invitations and décor.

Now all you have to do is invite locals who have unwanted pieces of gold jewelry from single earrings to necklaces with broken clasps to sell them at the fair you will be organizing. Not only will this earn them money, it would also do away with clutter.

But that’s not where it ends; you can also incorporate the event with other fundraising ventures such as bake sales and selling raffle tickets. This is getting to do a fundraiser minus the cost as this has already been shouldered by the gold buyers.

And if fate smiles down on you more, some gold buyers also agree to pay referral fees or compensate you for organizing efforts.That’s a win-win solution for you, your organization, the participants and the buyers.

And at the end of the long day, everybody goes home happy.

Golden Trash?

Do you have a gold earring with no pair or broken gold brooch that now out of style? If you think that those pieces would not benefit you anymore, think again.

Since the beginning of time, gold has been an important part of trade. It is mixed in coins, jewelry, home accessories and dining utensils. It is also one of the most expensive of metals. During the past years, the price of gold has steadied if not continually increased. Now it is easy to convert broken and unwanted pieces into cash. Online buyers are waiting to buy them at competent prices.

Getting rid of some extra things and profiting from it does not sound bad, does it?

Instead of mining for gold which would require expenses in the billions, not to mention the damage it would do to the environment, jewelers are now opting to just buy gold from those who have “unwanted” pieces and then refashion it. This is now the emerging trend in jewelry making that is proving to be time and cost-effective. It also provides a venue for people to get more out of their jewelry investments especially during these hard times.

However, it is important that one makes sure that the buyers aren’t scammers, especially those online. A number have fallen victims to fake buyers or those that do not pay your jewelry’s real worth, while some do not even bother paying at all. Hence, it is easy to confirm their legitimacy by calling references such as the bank and gold buyers associations. If this shows to be too difficult to do, simply browsing through public forums is a good step to take.

It is also advised that you have your pieces appraised by jewelers for more information on how much your pieces would fetch.

A word of warning though: one cannot expect the buyers to pay at market price. It will be somewhat lower but will still manage to earn you a tidy sum nonetheless.

Georgia: Divorce VS Annulment

Couples residing in the State of Georgia who want to dissolve their marriage have only three options to choose from: divorce; annulment; or a decree of separate maintenance granted by courts. Those who want to have the union nullified as if it never happened in the first place opt to file for annulment. This is a ground if one or both parties were defrauded and forced into marriage.

However, an annulment will prove to be difficult to gain if there are children born of the marriage.The Georgia State Family Law states that in this case, the marriage may only be dissolved by divorce. Although it is possible for a couple to live apart without divorcing, it is better to do so for the convenience of both parties.

Based on law, the parties not wishing to divorce may file a separate maintenance action but remains legally married. This, however, will prove to create complications should both or one of them seek remarriage to other people.

This also curtails the financial freedom for one of the spouses. In cases like these, the court will ask one spouse to pay alimony to the other thus creating a dependency of sorts. Unlike in a divorce, the properties will be divided accordingly between the spouses. This is the reason why many opt to take the divorce route,

On the other hand, the law also states that one does not necessarily have to go to court to get a divorce. An agreement may be drawn up between the spouses to resolve all pertinent issues including finances, division of property and custody of children. The agreement becomes the couple’s settlement and must be presented to the court for approval thereby concluding the lawsuit. Matters of child custody and parenting time, however, is always determined by a judge.

Should the complaint be uncontested, divorce may be granted 31 days after serving the defendant. It would take many months if there are disagreements.The spouses should also opt to request for a temporary hearing to thresh out arrangements regarding children and property.

An order issued by the judge to effect these temporary arrangements may also be made to prevent the transfer and selling of assets until the final trial.

An oDesk Freelancing Story: From Crappy to Happy

I have worked in an office setting for more than five years. It can be said that it was a “safe” job – nothing glamorous, nothing special, doesn’t pay a lot, but pays nonetheless. I answered customer service phone calls from irate clients ranging from seven-year-old kids who complain that the sour lollipop they bought tastes like grilled tofu or geriatric ladies who whine about why their boyfriends left them forty years ago. Like any trying-to-be-good customer service representative, I did my best to calm them all down. But then, the company I work for sells toilet equipment!

And oh, I forgot to mention that ever-so-nasty boss! She drives everyone crazy with her incessant need to scold everyone around. My co-workers and I think that she was a criminal in a past life. We firmly believe, in all conviction, that she commits aesthetic assault on a daily basis. She usually wears that polka-dotted top with ruffled sleeves which kind of gives us the idea that she somehow managed to escape out of a 70’s Prom Night, looked around, and then found herself clueless about why twitter is not a bird anymore.

I love the human race and all its capacity to do good… minus her. There was this occasion where I got the chills when I saw the butter knife in the office pantry, then I glanced at my boss, then I unknowingly, unintentionally stared back to that same knife for more than 30 seconds. Similar incidents have occurred with the telephone cord, the paper shredder, and that particular time when I realized that a computer monitor can be suitably heavy. Unfortunately back then, my hunger for sheer happiness seemed insufficient. Is it time for me to eat less?

Suffices it to say, I hated my job. But then, what choice do I have? I think I’m reasonably smart, I can write well, I can talk well, and almost all of the things that you can attach the word “well” too, possibly except for navigating intergalactic space ships…

The point is, like most people, I have a passion for things that do not pay the rent. In a country where half the population lives below the poverty line, art and culture is not exactly the wisest thing to prioritize. What I did, instead, was to keep my day job, put up with all the evil that is my boss, and pursue my passion during the hours in between. Yes, I know what you’re thinking, but no. I just look like Clark Kent, but I am Asian, which now makes me wonder why X-men’s Jubilee is the only Asian superhero I know. Going back to where we were…

I asked myself: What if I can find a way to do what I love to do and get paid for it?

And so I sent myself on a mission to search for the Holy Grail. I packed all my stuff and prepared myself for the task of a lifetime. As soon as I’ve finished packing (which took about 2 minutes, as I don’t have a lot of stuff anyway), I checked Google.

Voila! I found oDesk. I thought I almost cried, but I realized that my mom was just making onion soup.

So I went to oDesk, What I saw was an undeniably unfamiliar and potentially hostile territory… SO I REGISTERED. I looked at all the things that I can do there and BOOM! There’s blog writing!

Now, I really cried big time.

I took fifteen 40-minute exams in a span of 2 days. I was able to do that much with that little by keeping a mindset that the world can end anytime, so I might as well take the tests. Don’t worry; I don’t get the logic either! I did quite well in this battery of exams (well, it’s more like self-imposed torture if you ask me) and I landed on a job right away. Just a couple more days and I got more job offers, and I realized – if I make more than thrice as much here, what reason would I have for staying in the hellhole that was my former job? And also, the work hours are flexible, so just in case someone on the other side of the planet cries for help, I can stop working for a little bit and swoosh right away!

Thus, after getting an official seal of approval from the command center, a.k.a. my wife or my mom depending on who you ask, I have now become a full-time freelancer. No more doing something that I hate, no more putting up with power-mongering and aesthetically-challenged superiors, no more sleepless nights for having to be a superhero on a graveyard shift. I am finally doing what I love to do.

I know I can write, but I haven’t written anything good for a long time. But now, I can write again! You know why?

Because, at this exact point in time, I am Happiness personified.

I know what's on your mind right now:

You can thank me later.

Author’s Note: This is a work of fiction. This article was based on various stories coming from personal experience sprinkled with a little spice here and there. This does not necessarily represent the author’s personal advocacies, personal history or social relationships. The author has no connections with oDesk.com except for being a regular provider. He does not engage in any other sort of business with the said firm. X-men, Jubilee, Clark Kent and oDesk are trademarks/copyrights owned by their respective owners. And I don’t really know why I wrote this disclaimer. I just felt like it. Anyhow, please be guided accordingly.