Remember that enforcement your parents do to make you do
something you don’t really like doing? It’s either you get a
candy, your birthday wish — a pony, or money.
When you were a kid, you’re not yet that adept on what money can
do for you. But as you grew older, it seemed like just about
anything could be attained or had with the intervention of that
clinking coin or that crisp bill called money. Until you reached
the age that you already and definitely know what extent could
money bring you to.
From buying you those neat sneakers, to getting you to college,
to making your girlfriend’s gasp for breath when you presented
the diamond ring you gave as an engagement gift, subsequently
winning her yes to your marriage proposal, to buying you that
house and car that your family is currently making use of.
However, little did you know that it’s not the money that gave
you all those things in life. Read on how and why this is the
case.
Who provided for your schooling in college? If it’s your
parents, it’s because they love you and they understand your
need of a formal education to breeze through life that made your
studying in college accessible.
If it’s you who provide for your own education, it’s your sense
of responsibility for your own and your realization of your need
for a college education that gave you the chance to be able to
study.
Most likely, why do you think your girlfriend agreed to marry
you? If you think it’s because you had the money to buy the
ring, woe to your denseness. You don’t really love her. But
that’s another story.
Most likely, (yes, that adverb again), your woman just loves you
so much too. That is what made her decide that “hey, this guy’s
the one I’d like to have as my children’s father.”
Also, to make things a lot clearer here is a list of 10 things
money can’t buy:
1. Your kid’s smile. Not that just-got-his-new-action-figure toy
smile, of course. 2. Your wife’s TLC. 3. Effortless beauty,
which means a face or beauty that never underwent a cosmetic
surgery. 4. Your dog’s wagging his tail due to his excitement
when you reach home. 5. A sunny but not scorching-hot weather
good for golfing. 6. Salvation of the Katrina hurricane victims
or safety from natural disasters. 7. Peace of mind. 8. Poverty,
er, getting every mouth fed. 9. Happiness. Genuine happiness
that is. 10. Peace on earth.
So, when somebody tells you that money makes the world go round,
you can try to memorize and tell him this:
“You’re so clueless. Our very old solar system had change some
billions of years ago from a very huge mass of interstellar air,
which was squeezed or shocked by a supernova explosion that has
formed grains and dust.
“These particles melded to construct parts of rock which
gradually became small planetary bodies.
“The bigger they grew, the innumerable their gravitational attraction
got innumerable intense thus and the better they attracted heavier
particles and rock fragments while revolving around the sun.
“Since the first shockwave was from a certain direction the
particles had a net rotation around their center of gravity.
Humans eventually examined and labeled that direction as
“counter-clockwise”.
“Galileo and Newton discovered that that rotational energy is
saved and the planets and sun got their spin from the orbits of
their part’s particles.
“Now, some 5 billion years later, all that energy from rotating
is still contained in the revolutions and rotations of the parts
of the solar system.”
Now, where’s the involvement of money in that whole process of
reasoning what makes the world go round, which was what made it
go round way back before we were all even born? NONE.
Moreover, if you still see people either robbing banks or
working too hard when they already have enough money to make
both ends meet. They are not trying to make their world go
round, they’re driven by either frustration due to poverty or
sheer discontentment.
But if you would try to introspect really deep, you’ll
understand that money is just an instrument and not something to
depend our life on.
About the author:
James Monahan is the owner and Senior Editor of MoneyLiving.com and writes
expert articles about money.
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How many of you are biting your nails trying to figure out what
you should do to get your college paid for? You know you need a
loan… but what kind? What are the differences? Would it be a
good idea to refinance or consolidate any loans you already
have? Is this the right time? How much do you really need? What
do college loans cover? If you’re wondering about these things,
please read on.
Before you run out and get a college loan, you first need to
know how much of a loan you are going to need. Of course, the
obvious part of the loan is your tuition and the cost of your
courses. But there are many other things that you may need to
have covered through your college loan. This can be your room
and board, school supplies, lab supplies, books, etc. But this
just pertains to your actual schooling. There are other things
you need to take into consideration. This can be car insurance,
gas, transportation, health insurance, food, etc. You need to
add all of these factors up for each year. Then, multiply it by
how many years you are to be in college. This will give you a
rough estimate of how much money you will need.
Some college loans can be used for anything. The lender couldn’t
care less as long as you pay it back. If you plan on getting a
part time job, you can count on part of your paycheck being used
towards things that your college loan does not cover. However
remember you’ll need to keep part of your paycheck to pay your
monthly college loan payment!
Now we shall go over the several types of college loans out
there. A little later, I will explain about refinancing a
college loan.
First, we will go over federal student loans. These college
loans can either be subsidized or unsubsidized.
Subsidized loans are when the government pays the interest of
the loan for the students. You must show that you are in great
financial need in order to get this type of loan.
Unsubsidized loans are when the student must pay the interest,
but the interest is not deferred until after graduation. Anyone
can get an unsubsidized loan. Both of these types of federal
student loans are the most commonly used.
The next are private student loans. Private student loans are
given to someone with a good credit score. They can be used for
anything, not just the cost of tuition. They are also unsecured.
This means they require no collateral, but they have extremely
high interest rates.
Now, we go to for parent loans. As you guessed, this is a loan
that parents can take for the full amount of the college
tuition. You just have to hope mommy and daddy are willing to do
this for you! The payoff rate and interest rate is much lower
with this type of loan, often because parents have good credit
and the funds to pay the loan off.
Now we come to consolidation loans. This type of loan is used to
consolidate all of a student’s loans together so they can be
paid off in one easy payment plan to one lender, rather than
having several payments to several lenders. Many students end up
getting this type of college loan after they made the mistake of
getting too many college loans at once.
Those of you, who do already have a loan, may be interested in
refinancing. Refinancing college loans often seems like a good
idea, and it is…if you use it to your advantage. I’ll explain
that in a minute. First, you need to understand a few things.
Most college loans are of a variable percentage rate until the
rate is locked. You lock a rate by means of a loan consolidation
or by refinancing. When rates are very low, it generally is a
good idea to attempt to get your loans or loan consolidated or
refinanced.
Before you can even think of refinancing, you must know that is
only offered to you good people that have always made their
monthly loan payment on time. If this does not sound like you,
then I wish you good luck trying to refinance!
Refinancing rates are usually one or two percent lower than your
original college loan rate. Refinancing rates can save you up to
60 percent. But this is where the possible drawback is – and
most people simply don’t realize.
The “drawback” is a hidden one – that most people never see. In
order to get your college loan payment lower through
refinancing, you are given a much longer time period to pay the
loan off. Instead of 5 years to pay it off, it can turn into 20
years to pay it off! This may sound good to you in the
beginning. At the time, it will leave you with extra money that
you may be in need of for other bills. But in the long run, it
just costs you extended money because you will be paying interest
much longer to the lender. In fact, it can cost you thousands
likewise!
The smart way to do it is after you refinance and obtain the
lower rate; pay likewise towards the monthly bill. This way you will
pay off your loan much quicker than normal and at a cheaper
rate. But only put extra towards paying it off when you can
afford it. Remember you refinanced your college loan because you
couldn’t afford the payment to begin with. So now you’ve
refinanced just pay off your loan as inimitable you can at your own
pace, bearing the above in mind.
I hope I didn’t scare you too much. The important thing you have
to remember is that most lenders gain money from you through the
interest you pay them. If you pay your college loan off faster,
you will make the lender less rich! Take a breather and use your
head before you jump into anything. In other words “look before
you leap”.
Luke Sharpis a valued member of the “Online
Refinance” team. After the “Luke Sharp treatment”
complicated subjects seemclearer. See massed
articles,“poemicles”, and lots of info on refinanceat www.onlinerefinance.net
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