For some people, having a credit card in hand is like giving a beer to a recovering alcoholic. They mean well, but have trouble abstaining. The problem is compounded by the fact that in todays society, there are many occasions (such as renting a car, selling on ebay or ordering online) when you really do need a card.

This is where a prepaid credit card can be especially helpful. Originally designed for adults with poor credit ratings, prepaid credit cards are also becoming a valuable tool for parents of teenagers. The credit limit on such cards is determined by how much money is placed in the bank. This fact alone can teach an important lesson: if the money isnt there, they cant spend it. Rather than enabling us to spend money we dont have, credit cards should be tools of convenience.

Not Free
Its impossible to get a late free on a prepaid card, as there is nothing to pay off. But there are annual fees, monthly fees, activation fees, customer services fees, ATM cash withdrawal fees, fees per purchase on prepaid cards and even inactivity fees. So it pays to shop around before picking a card.

There are scammers in the prepaid credit card business too, just as there are in just about any business. If your prepaid credit card company is tacking on $1 every time you use the card, or $10 per month just to carry their plastic, beware. There are better alternatives available, but its up to you to find them.

Not always accepted
There are also some gas stations and car rental companies that do not accept prepaid credit cards. The logic behind this seems unclear and the incidences may be minor, but the fact it, your prepaid VISA may not work everywhere you want to be and this is one drawback to consider before getting a prepaid card.

Neutral on your credit
While prepaid credit cards wont tear down credit, they dont build it up either. If your goal is to re-establish your credit history, a secured credit card might be the better way to go. Prepaid credit cards are a great tool for gift-giving or spending money for your child, however.

The bottom line is you need to do your homework before buying a prepaid card. The bank has to make money somehow, so even the best of deals is going to cost you something. With a regular credit card, the bank makes their money on interest, late fees and penalties. If you have good credit and the willpower to manage a regular credit card wisely (e.g. never charging more than you can pay off each month and never being late on a payment), a regular credit card will always be your less expensive option. But if or one of your dependents really has trouble keeping the balance in check, a prepaid card may be just what the doctor ordered.

For more information on debt free living, visit http://www.debt-free-living.net

¶ 11:42 PM 0 comments

The future enters into us, in order to transform itself in us, long before it happens. ~ Rainer Maria Rilke

The year is half over. You've accomplished some of your goals. You may be discouraged about others. And you may be losing some of that goal achievement enthusiasm you had at the beginning of the year.

The goal doctor is here.

You've probably wondered why some goals pan out and others get left behind. The first place to look is your goal itself. Is this the right goal? Does it have enough juice? Maybe you want to go deeper: if you got this goal (the car, the money, the lover), what would this do for you? Why is it important?

Fleshing out the right goal creates energy and precision that propels you to fulfillment. Today's issue will give you some tools for creating those goals that will work for you:

1)Start with the BIG PICTURE.
Look at your life as a whole. Think long term. Imagine yourself twenty years from now, and you have figured out and resolved all of your present challenges. What would your life look like if you had everything you wanted? How would it feel?

From this future perspective,
* What is your life about?
* What do you want it to be about?
* What is most important?
* What is the impact you want to have in the world?

Write your responses down! Writing is an important first step to making your intentions real: writing brings your thoughts into the physical realm.

2)Create a VISION BOARD.
Gather pictures that inspire you and point to what you want. Use images from magazines, photos, and drawings. Add colors, phrases, scraps of fabric, or anything that represents your vision on an intuitive, symbolic, right-brained level. Paste these materials down on a giant poster board (I find Elmer glue sticks work best) and hang your vision board in a place where you can see it every day.

Many people resist this step! But I have heard again and again from clients (especially the ones who didn't want to do it) how glad they were that they did it. It works like magic, clarifying your values and bringing your right brain and your unconscious mind into the game of keeping your eyes on the prize and manifesting your dreams.

An Example of Vision Board Magic:
"I wanted to share an anecdote about the great results I've already seen since the session... I went home from the seminar Wednesday night and made a vision board, just using sketches of what I want. One of my sketches was to be in the Olympics (riding). By Sunday, I was shaking hands with a four-time Olympian and learning riding techniques from her; I had signed up for an opportunity to work with another Olympic rider and chef d'equipe of the Olympic equestrian team in mid-December; and I found an opportunity to sign up to learn from yet another Olympic rider in January. And just last night I became aware of another opportunity I may have this month to work with another Olympic gold medalist. Coincidence? I don't think so. I've been riding for 20 years and never had such opportunities." C.M.

3)Daily AFFIRMATIONS
By now some goals are emerging. The visions of the last two exercises are giving you a sense of what is important to you, of what you want in your life. Write and speak what you want as if it were already true. Affirmations train you to put your attention on what you want and to believe in what you want. If, for example, your daily affirmation were "I receive a million dollars a year for my products and services," your mind will naturally start to find evidence and opportunities to support that happening.

Is there some non-supportive thought that tears away at your belief in your vision? Build an affirmation to counteract it: turn "I'm not good at ________" to "I am a master at________."

Try writing your affirmations daily. Executive Coach Tim Cline recommends three times with your dominant hand, three times with your weaker hand, then three times again with your dominant hand. Then speak your affirmations aloud with your hand on your heart.

4)Speak your goal to OTHERS,
Speaking your intention publicly is like throwing your hat over a wall: you've just increased your commitment to scaling that wall. It's also the way to gain allies to help you on your path. The passion of purpose behind your goal, the clarity of your vision, and the confidence of your affirmations will make you more enrolling. Work with your coach to perfect your goal. Share with your friends so they can share your enthusiasm and be inspired to contribute. Create the public expectation of your success to spur you on!

These steps create a foundation of energy and belief to empower your strategies and actions. Many people like to jump ahead to action planning before they've developed their goal, like building a house before laying the concrete. If your goal is strong, the best actions will make themselves known to you. You will reach your goal with greater speed, ease, and precision, and you'll find yourself magnetizing your target to you, instead of chasing your dream.

Morgana Rae, a master results coach and creator of the Financial Alchemy Method, is president of Charmed Life Coaching, a successful life and business coaching company that guides clients to attract more than they chase, to market creatively and inexpensively, and to enjoy success without sacrificing their humanity. A leading expert on wealth manifestation, Morgana is a popular speaker and frequent television and radio guest. Morgana is the author of Financial Alchemy: 12 Months of Magic and Manifestation, and she is a contributing author to the books Inspiration to Realization, and Get Rich-The Womans E-Guide to Creating Wealth, and her articles have been published in magazines worldwide. Contact Morgana at info@HowToBeaMoneyMagnet.com and http://www.HowToBeaMoneyMagnet.com

¶ 5:50 PM 0 comments