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Sunday, October 28, 2012

Cash Train

One of my readers has asked me to do a review of the Cash Train business as seen on advertisements on pay TV channels.  After looking it up on the internet, I am torn between being thoroughly impressed by the simplicity and efficiency of the business model, and being saddened that this type of business actually has clients.
To its credit, this business outlines every fee and charge that you will pay for the service.  Nothing is hidden.  Whilst most loans are expected to be for short periods (average of four weeks), the website gives an example comparison interest rate as if it were an annual charge.  This is the impressive part.  I wish I could get 1271.18% interest on my investments. I wouldn’t even consider paying this for a loan though. 
This type of business is providing a service for people who have a regular income but have difficulty paying for their lifestyle and are constantly short of money.  It might get them out of trouble once, but I can guarantee that if somebody uses a service such as this on a regular basis, they will get further and further into trouble with their money. It would be like cutting their income by more than one third.  I’m sure we can all imagine how difficult that would be.  

Monday, October 15, 2012

Education vs Entertainment

I read a quote recently which said something akin to, "The wealthy seek education, average people seek entertainment."  And it made sense to me.

I have two children under 2 years old.  I'm sure any mother can tell you how much time that takes up.  I rarely get five minutes to sit in a chair during the day.  So when I do get time to do the things that I want, (after small children go to bed), I want to make sure that I am using my time to the best advantage.  Often that means sleep, but more often I am on the internet learning about the next thing that is going to bring me more money.  I don't watch TV anymore.

In a former life, I sold subscriptions to pay TV door to door. It was not motivating.  But one of the things that I found was that the people who could least afford the service, were also the most likely to buy it.

Like anything though, there has to be a happy medium.  I take a break from my reality by reading sometimes.  But this also gives me insights to perspectives I would otherwise not be privy to.  I used to like watching movies but find them tedious these days.  I guess my priorities have changed.  Since I've had to spend 14 hours of every day feeding, teaching, and attending to the other needs of my family, my spare time is precious and I choose to use all of it to increase wealth or maintain my health.  My education has in a sense become my entertainment.