Supporting Our Troops at 400 Percent Per Year
The cash advance industry is a tremendously profitable business. In the late 1990's, the industry was hardly known, but thanks to a predominantly Republican Congress and state legislators that tend to be business-friendly, these businesses have enjoyed explosive growth in this decade. The number of
PayDayLoanToday loans stores has grown fivefold in the past six or seven years, and the number of stores in the United States now exceeds the number of major fast food restaurants. You can find these stores on nearly any corner in most cities, but there are few places where you will find them bunched together more than you will near military bases.
It turns out that our men and women in uniform are among the most profitable customers for
PayDayLoanToday loan stores, and so far, little is being done about it. The reasons are fairly simple ones - military people are relatively poorly paid but see paychecks on a regular basis. They are the ideal customers. They always need money and they always get paid, so the chances of defaulting on loans are smaller than for other sectors of the public. Studies show that members of the military are three times more likely to take out a
PayDayLoanToday loan than members of the public at large.
California's legislature recently killed a bill that would have attempted to regulate these loans by placing caps on interest rates at 36% per year. The bill failed, partly due to intense lobbying by the lending industry. Thirty six percent per year may seem reasonable; after all, most credit cards charge about half that rate for cash advances. The lending industry claims that it cannot make money at such rates, due to the high default rate on
PayDayLoanToday loans.
Similar attempts to regulate the high interest loans have failed in other states, such as New Mexico. At the urging of the Pentagon, Congress has discussed a bill that would affect
PayDayLoanToday loan stores near bases on a national basis, but so far, no action has taken place. This is unfortunate, as soldiers who are overly concerned about their finances at home are not only potentially distracted from their mission at a time when they need to be focused, but also present security risks. Soldiers who have jobs requiring security clearances are regularly screened for possible problems that might leave them susceptible to blackmail, and one of those problems is financial trouble.
It is good to know that the cash advance industry is doing well. Is it really necessary that they earn their record profits at the expense of our men and women in uniform or our national security
©Copyright 2006 by Retro Marketing. Charles Essmeier is the owner of Retro Marketing, a firm devoted to informational Websites, including
http://www.End-Your-Debt.com, a site devoted to debt consolidation, credit counseling,
PayDayLoanToday loans and personal bankruptcy.
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Internet Marketing: a Reflection After One Year In The Business
As autumn and cold crawl their way into Canada and the sun sets before 4 p.m., this darkness and quietness bring along a time of reflection for all of us. The assessment I want to share with you is about internet marketing. Although my list of things to do seams never-ending, I am very happy to realize all I have accomplished in less than a year ( over 40 active web sites, a
hypnosis for childbirth program that already got international recognition, over 100 published articles on the net, etc)
I have been in internet marketing for a little less than a year and I have attended ten internet marketing seminars in 2006. I am the kind of person who likes to get to the bottom of things. I want to share my findings with people who are starting, thinking of starting or even stalling in the internet marketing business.
The ten biggest pieces of wisdom I want to share with you about internet marketing I have learned are:
1) The price of Internet Marketing products is highly exaggerated. Many marketers are comfortable taking hundreds of dollars for useless e-books or software. They are able to overcharge such big money for two main reasons: their customers believe their well-written sales letter promising them to become a millionaire by working only two hours per day. The second reason is that since other people have raised the bar before them, they feel comfortable with overcharging for their products.
I encourage everyone who is about to purchase any internet marketing product to take a deep breath, back up and do an internet search. Most probably, the product or its equivalent is already available for a fraction of the price on the internet.
My opinion is that no e-book is worth that much unless it provides me with the code of the safe at the bank for this internet marketer.
2) In the internet marketing business there are dreamers and there are doers. I have repeatedly met some people at internet marketing seminars who have not taken action and just keep buying the next product promising them a fast an effortless income. My experience is that it takes work (but then again I dont see it as work as I enjoy it very much) at least in the beginning to secure a decent income in the internet marketing business.
3) Many internet marketers made their fortunes by selling products to people who want to make a fortune in the internet marketing business. Willie Crawford draws the parallel that the people who got the richest during the gold rush were the ones selling shovels and sticks to the gold diggers.
Anyone interested in internet marketing has to ask themselves if they have just been enriching the people selling them promises to make millions in the internet business.
4) There are basically three categories of internet marketers out there: the ones who just want your money, the ones who give you a good deal for your money and the ones that genuinely care about helping you making good money by sharing their efficient tactics.
I will, of course, not name any names here and I think that deep deep down people know what kind of marketers they are. I can tell you that upon trying to do a mental list of the genuine, caring ones, I had enough of my ten fingers to do the complete list.
5) The real successful internet marketers are often not on stage at seminars. I have met some very successful and knowledgeable people by talking to the person sitting next to me at seminars. I highly recommend you get to know the attendees at any given seminar; you will be surprised to sometimes find out that they know more than the speaker upfront and wiling to share everything with youfor free.
6) A masterminding group is a great resource to learn and share tricks and tips about internet marketing. The rule is to be part of a group that is about (or even better, a little above) your level of knowledge and accomplishments in internet marketing.
7) Action is power. Whatever piece of gold nugget you learn is useless if you do not take action on it. Many people are eternal course takers but have yet to get their first web site up. Even the best intended internet marketer will not make a penny if he doesnt get his product out there. I have heard numerous times the advice to put out your product and fix the fine details later. It has been a little challenging for a perfectionist like me but, honestly, it works great. Often, customer comments allow me to go back and improve my product in ways that I would have never thought of.
8) Internet marketing is a numbers game. If you put all your eggs in one basket, you might rise very fast very high and then tumble down as fast. Diversity is the foundation for a solid business.
9) There will always be new things to learn. One cannot stay in their basement and hope that the world will not change. The internet marketing world is one that changes at the speed of light and one has to keep informed of the new trends and developments.
10) The Internet is here to stay. Internet has been growing at an astonishing rate and those who got in the game will be ahead of the pack in this exciting and powerful window to the world. The possibilities are infinite.
Dr Nathalie Fiset is a family doctor and a certified hypnotherapist. For more information go to:
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