RSS
 

Archive for the ‘money tips’ Category

Reinforce your knowledge about payday loan

28 Jun

By using this practical cognitive technique, human beings have learned about life and survived on their own even in new and unfamiliar situations. A primitive example of this knowledge transference is the lesson most of us learned at a very young age about fire. We were told not to touch it because it was hot. Fire hurts! Most of us heeded that advice. Furthermore, if we happened to get burned inadvertently, the accident did something very important for us. It reinforced our knowledge that fire is hot and it will burn and hurt if we touch it. Since we don’t enjoy pain, we created a mental map about fire and avoided touching it. Now, as adults, we make decisions about fire based on our past orientation.

The “Mental Map Matrix,” illustrates how we use mental maps. While the human decision-making process includes an incalculable number of variables, this simple model shows how we continue to create new mental maps and reinforce old ones. It starts when something happens to us or we experience a new event (box 1). The first thing we do is instantaneously scan our memory for any similar experiences (box 2). Generally at a subconscious level, we ask, “Have I had an experience like this?” (box 3). In most cases, especially as we get older and have more life experiences behind us, we’ll identify some experience that resembles the current situation. If we do, we then try to remember the outcome: “Was it successful for me?” (box 4). This is an internal value judgment. We make this judgment based on our psychology and personality at that moment in our life. Most likely we judge “success” by whether the outcome got us what we needed. If we judge the previous outcome to have been successful, we’ll duplicate the behavior (box 5) to match our mental map and will expect a similar outcome. The aftermath of the experience reinforces our mental map (box 6) as the “right” reaction to that experience.

 

Short term

28 Jun

What is a short term loan?

Short term loans are offered by different lenders, ranging from trusted payday loan lenders to even colleges. Short term loans are due within a set amount of time, usually less than a year, depending on the lending institution you used to receive the loan.

Some colleges offer short term loans to students. The borrower must be a student and must be able to show that the loan can be repaid in a certain amount of time. If a student is expected to receive student loans or other student aid, the college may lend a higher amount.

Short term loans are offered by brick and mortar stores around cities or via the internet. These are unsecured, high interest loans that are usually due with the deposit of the borrower’s next paycheck. For example, a payday advance company may offer a loan and charge $30 for each $100 borrowed.

Banks also offer short term loans. These loans can have a maturity date as early as 60 to 120 days from the date of inception of the loan. Bank short term loans can also mature up to one to three years after the inception of the loan. The terms depend on the bank and the amount of money borrowed.

Many banks may also require collateral, depending again, on the amount borrowed. The smaller the loan, the less likely the lender or bank is to ask for collateral. The application process is also a bit longer because the bank will check the borrower’s credit to be sure the borrower has the ability to pay the loan back. They may also look at a borrower’s personal credit score to determine whether to grant a short term loan. Banks may offer short term loans for a lower annual percentage rate than a payday loan service.

If you read the cautionary literature handed out by nonprofit debt management agencies and by consumer advocacy groups, short term loans in any form may seem terrifying. However, they can provide a lifeline for you if extraordinary circumstances put you in the position of needing cash fast.

 

Targeting, attracting and retaining credit

27 Oct

It was during the 1950s and 1960s that marketing first came to real prominence. In the 1970s, the focus shifted to techniques for mass marketing within an industry, highlighting techniques or reaching customers on a broad scale. In the 1980s and throughout the 1990s, the focus moved on to market segmentation, improving the way that customers in specific markets were identified and reached.

Now the focus has narrowed even further, with technology offering businesses the opportunity for mass personalisation. This is the ability to reach individual customers – targeting the right customers and then fulfilling their market needs – on a massive scale.

 

Measuring the profitability of credit

20 Oct

This will help to determine the structure, resources, direction and development of the sales effort, enabling the business to develop its activities.

To achieve this, customer analysis should highlight profit per customer, identifying the best and least profitable customers. It is also important to understand the characteristics of the most profitable customers, both tocontinue to meet their needs and to support tailored marketing campaigns that will attract the right customers.

Customer profitability can be measured by analysing two things: customer revenue and customer costs, including defection and retention costs. Some of the most important are listed in Table 12.1. Identifying the most and least profitable customers enables current and future initiatives to be targeted at the most profitable customers. It may also allow the business to find ways of reducing the costs of doing business with the least profitable customers.

 
  • Tags

  • Categories

  •