Helping You Avoid Life's Financial Mistakes

Debt Consolidation Care Review

March 15, 2010 By 1 Comment

Today it seems as if there are a million debt relief companies on the internet.  I think I come across a new one almost every day.  However many there are they all seem the same to me.  They offer a quick blurb about their company and then offer a simple sign up as if it were all that easy.

The truth is it isn’t that easy, debt negotiation companies can be a little tricky to work with, just read my post on the  Debtmerica Relief Scam and you’ll understand what I’m talking about.  However, recently I’ve come across a website on the internet called Debt Consolidation Care and I’ve noticed their not quite like the other debt companies on the net.

dcc

In this post I am going to give you the good and the not so good low down on Debt Consolidation Care.  I will also show why DCC is different than any other debt consolidation help site.

What Debt Consolidation Care Offers

First off, DCC has a few things different than other debt consolidation companies and the first thing is the community it has.  This site doesn’t establish itself as just a company but rather a community for helping others and one of the corner stone’s in that community is the free forum it offers.  In the forum you can ask questions on anything from debt settlement, collection agencies, payday loans, to even bankruptcy.

Second, the site offers a ton of calculators to help you map out the numbers when it comes to getting out of debt.  They have everything from debt reduction calculators to calculators that will figure your debt to income ratio.

Third, they have a ton of do it yourself articles to get you started.  If you’re looking for info on how to deal with payday lenders, collection agencies, or even how to negotiate your own debts you’ve come to the right place.

Finally, they offer a ranking of what they believe to be some of the best debt reduction companies out there.  These rankings include the top three picks by Debt Consolidation Care as well as a list of all the companies they work with in all 50 states.

What I Liked About DCC

First off, the biggest thing I liked about this site was the fact that they give you the opportunity to do it yourself first.  With most companies the only option you get is a sign up form and a little bit of information on the company.

In fact most companies discourage other from trying to do it yourself because they believe it would be too difficult for you; however you never know unless you try it yourself.

Second, the forums contain a huge community of people to help you out.  If you’ve got a question it will get answered here.  The forums are also a great place to learn a lot of stuff.  I came across a bunch of sticky post inside the forums.  I read one on collection agencies that was very informative and helpful.

Third, they had a lot articles but they also had a bunch of great videos showing you how to set up a debt reduction plan, how to avoid bankruptcy and even how to do a payday loan consolidation.  I felt these videos came in handy when just getting started.  It also helps when you can just have someone explain things to you instead having to read a ton of articles.

What I didn’t Like

As powerful as this website can be for someone I still seen a couple of things I didn’t like about the site.  The first was that I was looking for personal reviews and ratings about the debt companies they were talking about.  It seemed the only ranking they had was of three companies they liked the best and that was it.

If I were looking for a debt negotiation company I would want to know what others thought of this company after using their services, however I just didn’t see that here.

I also didn’t like the fact that out of all the companies that they mentioned they didn’t show what their fees are.  I guess it’s just the fact that I’m a numbers kind of guy and I want to know what I’m going to be paying for if I sign up with one of these companies.

It would also be helpful so I could compare companies with each other and see who would actually have the best fees and rates for my situation; instead all I got for each company was a brief description and their contact information.

Finally, I also didn’t like that fact that the reviews they had of the companies they worked with never went through the benefits as well as some of the disadvantages with the companies had.  Doing this would have given a more rounded review of each company when it came to making a decision.

Who Is DCC For

Debt Consolidation Care has helped millions of people get debt free but there are a few people who I feel are really meant for this website.  First off, if you are a do it yourself person when it comes to getting out of debt this site is a great place to find some answers.

This site is also great if you just have a simple question to ask.  You don’t have to call them or even shot them an email; you can go straight their forum and get your answers now.

Finally, DCC is also great for those that have tons of debt and are looking for people to help them solve their solutions before they get any worse.  Sometimes all you need is someone to coach you along the process and give you the guidance to get started.

Are You Ready

Get started now by checking out all of their free content they have available.   However I know that in some cases this just isn’t an option so you may want to consider signing up with a free over the phone consolation to help you get started.   This will also help you to see if this is an option for you as well.

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Debt Relief Of America Review

January 31, 2010 By 3 Comments

Today Americans are facing huge amounts a debt issues.  In fact consumer debt is more than corporate and even government debt combined.

So today I want to spend some time talking about a company that is helping American get out of debt called, Debt Relief of America.  In this article I’m going give you the good and bad about this company and show you how this company could possibly help you get out of debt for good.

What Is Debt Relief Of America

Debt Relief of America is a debt negotiation company which specializes in helping people cut down and pay off their debt.  However, not just any debt will qualify, only unsecured debt like credit cards, personal loan, and even unpaid medical bills.  The reason secured debts are not excepted into the program is because if you would happen to fall delinquent on your loan as a result of being in the program the lender would likely take your asset.

debt_relief

For example, if you owned a house and slipped behind on payment from being in a debt negation program the lender would probably take your home.  That’s why they only accept unsecured debts.  With unsecured debts the lender or the bank has no right over taking any of your assets from you if you fail to pay.

What Is Debt Negotiation

Before we can get into the good and the bad of this program that Debt Relief of America Inc offers we should have a good idea how debt negotiation works.

Debt negotiation is the process used to cut down your debt owed.  For example let’s say you have a lot of credit card debt.  What the debt negotiation company will do is call each company you have the debt with and negotiate a settlement.

This will vary with each company they call.  Some won’t budge an inch and force you to pay back 100% owed, and some will work a deal out were you only have to pay 30 cents on the dollar back for one debt, and the next debt they might only be able to cut it down to 70 cents on the dollar.

By doing this they are cutting down the amount you owe.  In fact Debt Relief of America claims they can eliminate 25% to 50% of the balances that you owe.  Once the deals have been made they will combine all of you payments into one payment that you will pay directly to DRA.

Lastly, in the beginning you can expect to still fall behind on some of the payments even though you are paying Debt Relief of America on time.  The reason for this is because they will be putting that money towards your smaller debts to pay them off first.  Over time this will happen less and less as you keep paying into the program.

What I Liked…

  • Combines all payments into one payment. Having all of your payments combined into one payment makes things much simpler. I also allows you to keep you mind off all the bills and debts you have.
  • They negotiate for you. DRA has a relationship with most lenders so it will be much easier for them to negotiate a deal on your behalf than if you were to do it yourself. Also, negotiation is very tough to do if you have no idea how to do. In most cases if you tried to do it yourself they will just string you along from on manager to another till you get tired of playing phone tag.
  • Better than going through bankruptcy. First off, bankruptcy is much more expensive when you consider dealing will all the lawyers, and court fees. Second, bankruptcy will have a lasting effect of 7 to 10 years of bad credit. With DRA your credit will not be entirely ruined.

What I Didn’t Like…

  • This can hurt your credit. Going thought debt negotiation is kind of like going through a mini bankruptcy. It may not ruin your credit like a full blown bankruptcy would but if you currently have good credit you could expect to hurt your credit score. How bad it will be, depends each individual’s situation.
  • Doesn’t solve the entire problem. Once you are out of debt with this program, what’s to stop you from falling back into debt? Don’t get me wrong the program itself will get you debt free but it has to do more than that. For example if you have a bad habit of being a compulsive shopper nothing is stopping you from falling back into financial ruins. To get out of debt for good you need include other aspects like a strong savings plan, and changing spending habits. Without changing these things you are sure to fall back into debt.
  • Doesn’t help pay off all debts. As I mentioned earlier in this article you can only include unsecured debts. While this will help with most debts it won’t help with all debts, like your mortgage, car loans, and student debt. However, once you do have your unsecured debts paid through debt relief of America why stop there. Start applying what you’ve saved from paying on those debts and use that money to pay off your mortgage and car loans.

Are You Qualified

So is Debt Relief of America for you?  In this section I am going to cover a few things you need to have in order to qualify with this program.

  • 1. Do you have $7,500 in unsecured debt? Having this much debt for someone is usually not very tough but it does have to be unsecured debt. However, I should also mention that secured debt can become unsecured debt. For example let’s say you have a car loan but the bank repo’s the car and pays what they can off the loan. If the bank doesn’t have enough to cover the full amount they will establish a delinquency and this could be considered an unsecured debt you could include in the program.
  • 2. Are you having a tough time making the minimum payments to all of your debts? Then this might be for you. If it seem that every month things are becoming harder and harder to pay for then you might want to consider this program as an option.
  • 3. Are you willing to do what it takes? If you’re looking to get into this program and do what it takes to win to beat debt, you’re in the right place, but if it’s your idea is to get into the program and let them do all the heavy lifting this program isn’t meant for you. Being a team player with DRA will go a long way to getting you out of debt fast.
  • 4. Are you facing a financial hardship? Financial hardships can be very hard to overcome. For example, maybe you have a family member very sick and have a lot medical bills piling up or maybe your spouse passed away and you had no life insurance. Both of these situations would be considered a financial hardship. If this sounds like you read on.

Take The Leap Of Faith

If you’ve made it this far in the article you might be ready to consider these debt relief options.  I call it that because you are doing something most are going to do. If you made it this far you are ready for what lies ahead and ready to face the challenges of getting out of debt forever.

Debt Relief of America will be with you every step of the way on your journey.  To get started, sign up for a free consultation.  DRA will sit down with you one on one free of charge and evaluate your situation to see if they can help you.  In my opinion I would just check it out and see what it’s all about.  It’s free and there’s nothing at risk at this point.

The only thing you have to lose is more money to debt you can’t afford to pay.

Chris

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The Dave Ramsey Baby Steps Review

November 1, 2009 By 10 Comments

dave_ramseyAre you in debt up to your eyeballs? In this article I’m not going to be talking about some new fly by night get out of debt strategy but rather a proven system by one of the most revered men on the subject of teaching others how to get out of debt.

In this article I am going to be reviewing the Dave Ramsey Baby Steps Plan with a fine tooth comb and giving you all the good and bad things about his makeover plan.

The Dave Ramsey Baby Steps Plan

Dave Ramsey’s plan is unlike any other get out of debt plan I’ve ever come across.   In fact the Dave Ramsey Baby Steps Plan is more than just a plan to get out of debt it’s a way of life.

Dave Ramsey’s baby steps plan, also known as The Total Money Makeover, is made up of seven major steps which are designed to help you focus on specific areas of your finances.  They were designed to be followed on chronological order from beginning to end, they are as follows.

Step 1:  Save $1000 Fast

The first step in this plan is to save $1000 as fast as you can.  You might be thinking why should I save money when I have debt to pay off?  The reasoning behind this is so you have that cushion between you and falling into anymore financial traps.

Things like unexpected car repairs, medical bills, and anything else you can think of will take a huge toll on your finances.  So the first thing you need to do is save some cash fast.

If are wondering how you might come up with this extra money take a look at this article to get a few ideas for what you should do.

Step 2: Pay Off All Debt Using The Debt Snowball Plan

This step is where you put together what is called a debt snowball plan and start paying down debt rapidly.  If you you’re not sure how to put this type of plan together you can learn more about it here.

In this step you will also pay off all of your debt except your mortgage.   Why is this?  Mostly because this debt takes the longest to pay off and also has some extra added tax benefits which will help lower your tax burden.

Step 3:  Build 3 To 6 Months Of Expenses In Savings

Now that we have are debt paid off we want to continue building that emergency fund that we started in step one.  At this point we should have a budget together and know how much we are spending on everything we buy.

We should know how much we are spending and where it is going.  So figure out how much your expenses are for the month and times it by 6 and this will be what you need for a six month emergency fund.  If that number looks too big to you cut it in half and start with a 3 month emergency fund.

Step 4:  Invest 15% Of Your Household Income For Retirement

At this point you should have the ball rolling.  In this step we want to maximize on our retirement saving by setting aside at least 15% of your household income into some type of long term investment such as a mutual fund or 401k.

For example let’s say at your job you are contributing 3% of your paycheck to your 401k and they’re matching it 100%.  This means that you are contributing 6% to your retirement fund.  If your spouse is doing the same then you are saving 12% and only need save 3% more.

Step 5:  College Funding For Children

In step 5 of the Dave Ramsey Baby Step Plan you want to focus on saving some money for your kids college education, but only after you’ve paid yourself first.  Sometimes as parents we tend to give everything to our kids first.  College funding is important but make sure you are on track first before you decide to help someone else out.

If you’re wondering where to find a good college check out Peterson’s.  On this website you will be able to find information about any college around the country from the cost of tuition, rates on room and board, to the type of degree programs they have.

Step 6: Pay Off Your House Early

In this step once we have taken care of the savings aspect so we can now turn our attention to paying off the biggest debt of all, your mortgage.  In this step Dave recommends that you don’t use any more than 25% of your income for mortgage payments.  He also says that you shouldn’t have a mortgage with a term any longer than 15 years.

He says mortgages at 15 years have lower interest rates and in the long run you’ll pay less interest as a result.

Step 7:  Build Wealth And Give

You did it!  At this point you’ve paid off all of your debt and should be on track to build great wealth for you and your family to come.  In fact, you will be on track to change future generations for years to come all because you followed this plan.

Now that you have your debt paid this gives you a great opportunity to give back to others.  This can be anything from donating to a charity, to giving to your church, or even as simple as making a mortgage payment for someone who is having a tough time paying their bills.

What I Like About Dave’s Plan

  • First off, Dave Ramsey’s plan offers a place to start from with a step by step approach.  One of the biggest problems people face is that they get too overwhelmed by all the bills they have.  It feels as if you’re going to be in debt forever.
  • Second, this plan forces you to focus on one particular area of your finance’s at a time.  Instead of looking at everything as a whole Dave’s plan breaks everything down for you into simple bit size pieces.
  • Finally, this is not just a plan to get out of debt it’s a way of life.  The Dave Ramsey Baby Steps Plan is a total money makeover from start to finish.  It not only helps you pay off all of your debt but also helps you save more money than you could ever imagine.

What I Didn’t Like About The Baby Steps Plan

With all the things I love about this plan there are just a few things I don’t like about this plan.  So to keep things fair and balanced I am going to give you a few things that bother me about this plan.

In Dave Ramsey’s book he mentions you should get rid of all of your credit cards and only use a debit card.   It’s hard to agree with this, in fact he claims that rewards cards are not worth it and you hardly ever get the rewards from them.  I have a Marathon MasterCard and have been getting a 5% rebate on all of the gas I bought from day 1.

Dave also claims that people who have credit cards spend 30% more than if they would have just used debit or cash.  I can agree with Dave to an extent but the same can hold true with a debit card.  If you can have access to your money 24/7 what stopping you from going to the nearest ATM and withdrawing an extra $20.

Second, I don’t agree with Dave’s Plan on the fact you should only ever own term insurance because everything else is too expensive.  In fact in his book, The Total Money Makeover, Dave says you can buy a term policy for as little as $7 a month.

This might be true if your 20 years old and have no health issues, but if your 60 years old and coming off of a 30 year term policy and you didn’t save any money, or blew it all, a 30 year term policy will cost you dearly.  I’m not going to go into this in great detail now but just know that a term policy isn’t right for everyone.

Finally, Dave’s Plan says you should save for your child college education in either an ESA (Education Savings Account) or a 529 college savings plan.  The thing I don’t like about these plans is what if my child doesn’t go to college; can I still give them the money?

The answer is yes but at a price, you will have to pay taxes on all of the money you saved or you can give it to another child that is going to college.

Furthermore, do you really want to pay for all of your child’s education?  I can tell you that my parents had no plan in mind to even help me pay for my college education.  Not because they might have been poor but because they wanted me learn how to work for what I wanted in life and not to be given everything at the drop of hat.

Sure, I’ll give my child some money to get started but am I going to pay for their entire college education?

Nope.

Who Is This Plan Meant For

The Total Money Makeover is proven plan for financial fitness, but this plan isn’t for everyone.  If you’re someone who has no debt and saving a good chunk of your money this plan isn’t for you.  So who is this plan for?

Obviously, if you’re someone with any amount of debt at all could benefit greatly from this program.  You don’t necessarily have to have a lot debt to be in this program.  In my case I only have $4600 of debt not counting my mortgage.

If you’re someone who can’t handle money well this program is meant for you.   If you’re the type of person that spends money without reasoning or thought of what you’re doing this program can help you.

If your someone who wants to do more with their life than worry about living day to day paying your bills.  The Dave Ramsey Baby Steps Plan can help you.

Call To Action

Well, are you going to do it?  Are you going to let another day much less a second go by living life the way you are.  What I’m saying is you have complete power to change your situation right now or just throw up your hands to the mess and do nothing.

There is a saying that Dave mentions in his book, The Total Money Makeover, and that is,” If you will live like no one else, later you can live like no one else.” That means if you stop right now and focus all of your attention to this plan someday you could be living the life like no one else.  It may not happen today or tomorrow but it will happen.   The Dave Ramsey Baby Steps Plan can give you the freedom you’re looking for.

This post was recently featured on the Money Hacks Carnival by The Financial Blogger.

 

 

 

 


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John Commuta’s Transforming Debt Into Weatlh System Review

August 30, 2009 By 16 Comments

If you’re not familiar with John Commuta’sTransforming Debt Into Wealth System you just have to turn on the radio to hear all about this guy.  In this article, the John Commuta review, I will be talking all about John Commuta’s  famous transforming debt into wealth program and why you shouldn’t buy it.

Transform Debt Into Wealth

It all sounds good right, a system that will eliminate all of your debt in a matter of a few years.  The big question on everybody’s mind is does this program do what is says it does?

The long and short is the John Commuta transforming debt into wealth program does work, everything in his program you can find on about every other finance blog on the net including this one.

The truth is the crap that John Commuta has been selling for years making him rich is the same stuff found right here on Stumble Forward.  Yup, you heard me right here at this blog.

How John Commuta Turns Debt Into Wealth

Turning debt into wealth sounds like a catchy title but in reality all he is doing is selling you a system that has been around for years.  It’s called the debt snowball plan.

With the transforming debt into wealth system John Commuta takes this very program and packages it up into nice and neat little package along with some great testimonials and presto, you got a never ending TV infomercial making thousands of dollars a day.

By the way you know John Commuta is making a lot of money off of this program or you wouldn’t hear it ten thousand times a day on the radio.

I know this can sound a bit harsh but it’s true.  People in America get ripped off everyday from scammers, but the worst part is the people who are in debt up to their eye balls are getting the blunt end of the deal, much less paying for the John Commuta scam product.

The so called debt settlement companies that are helping you eliminate thousands of dollars of your debt are nothing more than in most cases a bunch of fakes.  Now I say most because some are legit but most are taking advantage of you.

Where To Get Your Debt Advice

If you’re looking for some simple debt advice on how to set up a debt plan check this out.  If you want to get a more extensive view into what it takes to get out of debt for free check out Enemy Of Debt.

This guy knows what he’s talking about.You can read all the John Commuta reveiws you want but Enemy of Debt  does what he preaches and knows a lot about the subject of debt, and isn’t some infomercial guy just trying to push a product on you.

Their is also another point that must be said, you have to watch out for who you take your advice form when it comes togetting out of debt.  If you have ever heard the term don’t get a hair cut from a bold barber the same should hold true for who you take financial advice from.

If you’re wondering who you should get your advice from question their motives.  Here at Stumble Forward I’m not charging for any of the advice and second I have personally worked in the industry myself for 4 and a half years.

If your gettingdebt advicefrom someone who is in debt up to their eyeballs much less from a guy like the John Commuta fraud doing nothing more than pushing a product  that may not be the most trustworthy source.

Final Thoughts

Don’t buy John Commuta’s Transforming Debt Into Wealth System.  If you really want toturn debt into wealthstart reading up on the abundant information available on the net, and the best part it’s all free.

Chris

If you like this article check out these recently featured on The Carnival Of Money Hackers by ABC’s of Investing.

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Debtmerica Relief Review

August 5, 2009 By 10 Comments

What Is Debtmerica

Debtmerica is a debt negotiation company that helps individuals pay off their debt, and in most cases a lot faster than they thought possible.  Lately, I’ve been hearing about debt negotiation companies on the radio, but the real question is are they real or is their a Debtmerica Relief Scam?

I can’t speak for all of them but I can speak for Debtmerica.  Why, because I have worked with the company personally and in today’s article I am going to be giving you an in-depth review of Debtmerica.

I will be covering all the good and bad things about going through debt negotiation and help to give you a well rounded view of Debtmerica Relief.

How Debtmerica Works

Debtmerica is not like most debt companies.  What makes them different is that they work on your behalf to negotiate lower settlements for your debt.  I know what you’re thinking this kind of sounds like debt counseling but it’s not.  Debt counseling doesn’t usually negotiate your debt they merely help you pay off all of your debt.

What Debtmerica does is negotiates all of your unsecure debt to lower balances and then combines all of your unsecure debt into one simple payment.

However, there are limitations to these kinds of programs.  As great as this program sounds you still have to qualify in order to take part in it.  I will cover what you need to do to qualify later on in this article.

What Debt Qualifies

If you’re thinking of using a debt negotiation company like Debtmerica to get out of debt you first have to understand not all debt qualifies for this program.  Debtmerica only accepts unsecured debt not secure debt.

So what is unsecure debt?

Unsecure debt is debt that is not backed by an asset of any kind.  For example a mortgage is not an unsecure debt because it is back by the asset of the property itself.  On the other hand credit cards are unsecure debt because they are not backed by any assets.

So here are a few debts that wouldn’t qualify with Debtmerica.

  • Auto Loans
  • Payday Loans
  • Military Accounts
  • Public Utilities
  • Student Loans
  • Loans with Collateral Attached (Mortgages, HELOC’s)

So what kinds of debt qualify with Debtmerica?  Any of the following will qualify.

  • Credit Cards
  • Personal Loans
  • Credit Unions
  • Medical Bills
  • Deficiency Balances
  • Collection Accounts
  • Past Due Bills

What I Like About Debtmerica

With Debtmerica there is one great advantage with them and that’s the cost.  If you were to go through a full fledged chapter 13 bankruptcy you will have to deal with attorney fees, court cost, and more.

With Debtmerica the fee is included right into the actual lump sum payment along with your other debt.  The fee they charge is only 15% of your total debt.  So if you have $10,000 of unsecure debt it cost you around $1500 broken down into periodic payments.   So if it would take you 3 years to pay off all of the debt you would pay right around $42 a month to Debtmerica for their cost.

An Example Of How The Program Works

Let’s say you have $25,000 of unsecure debt with a payment of $380.  What Debtmerica will do is contact all of your creditors and negotiate a deal with them.  Some will be willing to make a deal others will not.  Let’s say they were able to cut $10,000 off of your balance, this would bring your total balance to $15,000 and a payment of $140.

By going through the program you would be cutting off around $240 off of your payment but you also would have to factor Debtmerica’s cost in their as well.  Their cost would be 15% of $25,000 which would be $3750.  If you would spread the payments over a 4 year time span you would pay around $78 a month for Debtmerica and total payment of $218 each month.

Not bad.  Although this is just an example it will give you good idea of how the program works.

What I Don’t Like About Debtmerica

Up until this point I have talked about all the great things about this program and what it can really do but I haven’t yet to cover some of the negatives about Debtmerica.

First off, Debtmerica may sound like an easy alternative to bankruptcy or debt counseling but that doesn’t mean going through a debt negotiation program won’t leave any black marks on your credit report.

In fact, going through a debt negotiation program is kind of like filing for a mini bankruptcy.  Why does this happen you might ask?  Debt negotiation has one thing that is very similar to doing a bankruptcy and that is negotiating your debt.

Whenever you agree to pay a less amount on a debt the company that holds the debt will usually report that to the credit bureaus resulting in a nasty mark on your credit report.  I’m not sure how much this will affect your credit score but it defiantly won’t help it.

Second, you may also experience collections calls in the beginning due to the fact that they may be withholding a few of the payments to build up the cash flow.  However as the program processes it should go away.

Who’s Right For Debtmerica

Not everyone is right for this program so take a look at some of the qualifying factors and see if this program is right for you.

  1. All of the debt you include into this program must be unsecure as show above.
  2. You must have at least $10,000 of unsecure debt to qualify for the program.
  3. Each account must have a balance of at least $500 to qualify.
  4. You have to stop adding debt to your to your accounts.
  5. You should have a job.  Without a job you won’t be able to keep making payments towards the program.

How Do I Sign Up With Debtmerica

If you would like to give debt negotiation a shot and see if it is really for you checkout Debtmerica here. Here you will be able to either call their toll free 800 number and talk to someone directly or if you prefer fill in their simple questionnaire and get a free quote.

Being in debt isn’t fun so take some time check out the program and give it a shot.

Chris

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Survey Scout Review Or It A Scam

July 22, 2009 By 12 Comments

Have you ever been paid to take a survey?  Lately, I've seen a lot of these kind of opportunities on the internet claiming you can make a pretty good living by taking paid surveys.  So I did some research and found Survey Scout, one of the leading survey websites.

Over the last two weeks I've been putting Survey Scout to the test  to see if they are legitimate or just another survey scam.  In this article I will be discussing the good, the bad, and the ugly of Survey Scout so read on.

survey_scout1What Is Survey Scout

Survey Scout is a program that pays to hear your opinion on a multitude of different things from the latest tech gadgets to the normal everyday things you use around your house.

But that's not all they do.  They also have review panels, get paid to play video games,  drive cars, shop, and even read emails.  With all the things they pay you to do, it all sounds to good to be true. But is it?

Is Survey Scout A Scam Or Is It Legitimate

First off, Survey Scout is not a scam, but it also isn't the most legitimate way to earn a living online.  If you're expecting big dollars doing surveys, think again.  Even the best in the business only make around $2500 to $4700 a month.  This is not saying you will make that much either.

Second, not all surveys pay cash.  Some pay in points which you can redeem for prizes later on once you accumulate enough points, and others will enter you into prize drawings.   I personally stayed away from their surveys.

Finally, you have to put in a lot of time to see any serious results.  If you plan on putting just a few hours a week into Survey Scout don't expect to blow the bank out.  To make even a modest income you will have to put in some serious time, at least ten to twenty hours per week minimum.

This raises the question, is Survey Scout worth the time?  I am not going to give you a yes or no answer here because that is really up to you to decide.  However, I will personally say that I can make more money in better opportunities than this.

What I Liked About Survey Scout

Out of everything I didn't like about Survey Scout I did find a few things that were able to hold my interest about the opportunity.

First, they had a lot of great info on getting started with Survey Scout.  In fact, they had an entire start-up plan in place that took all of the guess work out of figuring things out.  This included everything from the tools you needed to simplify the process to how many surveys you should sign up for.

Second, one of the great tools they include is a program called "roboform".  This tool simplified the process of signing up for surveys by automatically inputting your information for you.  This will save you tons of time and speed up the process.

What Really Frustrates Me About Survey Scout

Now that I've gone over the good and the bad of Survey Scout, it's time to hit on the ugly part of it all.  This all has to do with the actual surveys themselves.    In the entire time I worked with Survey Scout I have not been able turn up even one dollar.

In fact, in my first survey, they offered me a $20 bonus for completing the sign up page for the survey and if I completed the survey they were going to enter me into drawing for a Toshiba Laptop.

However, when I got to the end of the survey it became obvious to me that they wanted me to buy a product of some sort before I could be entered into the drawing.  This is when the real truth set in that Survey Scout is not really about doing surveys but rather finding out what kind of products you like and use.

They then take that info and cater it to you in emails designed to get you to buy products through them.  For me, this was the 'aha' moment.  So this begs the question, is Survey Scout a scam?  No, but to me it is a very unethical way to take advantage of people.

Are You Right For Survey Scout

If you've lasted this far in the review and still are not sure if you are right for Survey Scout, here are a few things you can consider.

  • Do you want to just make a few dollars here and there or do you want a more stable income stream?  If you just want to make a few bucks here and there this is a great opportunity for you.
  • If you don't mind giving out your information to companies this may be an opportunity for you.  The one thing I noticed once I signed up with Survey Scout is that I got tons of spam offers.  This raises a lot of red flag questions for me but if you don't mind it keep reading.
  • Finally, if you're someone who doesn't want to actually sell a product online but still make money online this may be for you.  However, this doesn't mean you won't have to buy a product in order to participate in a survey.

Signing Up With Survey Scout

By this point you might have noticed I have not put any affiliate link inside this article.   I could have very easily done this but my standing on Survey Scout is not as a scam but more along the lines that it is really more of an unethical business opportunity.

However, if you are still convinced at this point that you would still like to sign up with Survey Scout, there are two ways you can do this.  The first way is to pay the $34.95 to sign up.  I personally don't like this way because I feel in the end you will be disappointed like I was.

The second way you can sign up is by what is called a trial play.  A trial play basically means that you buy a product of $5 or more off a list of companies that they have on their website such netflix, godaddy.com and that company will pay for your membership on Survey Scout as long as you own the product.

So instead of paying the $34.95, I bought a domain name from godaddy.com for $10 and they paid for my membership.  At least this way if I don't like the website, I got something that was worth the money.

What's Your Opinion

Have you tried Survey Scout?  My results may be different than yours.  Feel free to leave a comment and share the results you have with Survey Scout or any other online paid survey program.

Chris

Surveying

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World Financial Group Review

June 25, 2009 By 111 Comments

Let me start by saying that I loved working with WFG ( World Financial Group) for the last four and a half years.  In this article I am going to give all of the hard working knowledge I gained from being a part of this company as well as the not so good things.

What Is World Financial Group

World Financial Group, previously known as World Marketing Alliance,  is a financial services company that provides a broad array of financial products such as Insurance, Annuities, mutual funds and investment advisory services.

wfg_logo

WFG is located in all 50 states, Canada and China.  They are owned by one of the largest financial firms in the business, Aegon.    WFG is also one of the biggest financial recruiting firms in the world, with nearly 10,000 recruits every month.

World Financial Group has been around since the early 1990′s and has grown considerably since its inception.  They started out as a group of four founders and multiplied into thousands of representatives.

What World Financial Group Taught Me

When I first got started with WFG I heard a lot of stories about the company.  Some were proclaiming it as a total scam and advised me not to get involved.  However I decided that even if I could just learn how to manage my money better it would be worth it.  In fact, that is the first thing they taught me.

The truth is you shouldn’t be giving financial advice unless you have your house in order first and that is what I did.  I got some much needed life insurance and set up a couple of retirement accounts.

Secondly, after getting started with WFG I learned to build great communication skills.  This skill taught me how to engage in conversations with people and win them over to my way to thinking.

Third, I learned how to run a business.  This was the major reason I got involved with WFG.  They taught me how start and run a successful business and the best part about it was they were there with me every step of the way.  With weekly and quarterly meetings I was always ahead of the curve with my business.

The Down Side To World Financial Group

During this  World Financial Group review my goal was to give you all of the great things I got out of this company but also give you the negatives as well.  It doesn’t matter what opportunity you look at whether it be WFG or some other financial company like Primerica they all have some down sides to them.

With every business comes expenses and WFG has a few of them.  There will be others but at this point I am just talking about the expenses for the beginners.  The first of them being the $100 sign up fee, $125 in Canada.  This fee is paid directly to the home office and will get you your code number that you need in order to get paid.

Second, WFG is entirely commissioned based.  There are no salaries, or hourly pay scales.  You get what you earn. However this is not entirely bad, my first commission with WFG was a check for $500 for a mortgage I wrote.  At the same end don’t expect to make money right away.  It took me around 5 months to get my first check.

Third, in order to get a commission you must get licensed.  This means you will have to dedicate some time and money to get all of this done.  Expect to pay around $1000 just to get the basic licensing and around 20 to 40 hours of state required time to get approved for your life insurance license.

Fourth, once you do get licensed you’ll have to start paying what is called E&O insurance.  Think kind of like malpractice insurance but just for financial professionals.  This will be something around $90 a month before you are able to reap the rewards of your commission check.  Needless to say you have to pay to play with WFG.

Finally, everything I have mentioned above is nothing compared to the amount of work you have to put in to see the result you want.  Expect to be putting in some long hours at the office and at appointments until you get on your feet.

Who Is The Right Person For World Financial Group

WFG has brought in many people from all different kinds of backgrounds.  However if you are thinking you need at least a 4 year financial degree and prior experience think again.  In fact, WFG would prefer people that have no experience and degree.

Second, you should be willing to accept the financial cost I mentioned earlier.  However, don’t get too worried if this is a concern for you.  I once knew a guy who took up a paper route to pay for all of his expenses.

Third, you will have to pass a background check.  This means if you have any kind of felony conviction you will probably not be able get involved with World Financial Group.

Finally, if you are able to follow some simple directions this may be an excellent opportunity for you.  However, just because something is simple does not mean it’s easy.  If you’re someone who is more of a rule breaker and like to do things your way this may not be for you.

How To Get Started

The easiest way to get started is if you know a friend in the business.  They would be able to get an interview set up for you and get you started.  However, if you don’t have that as an option you can find an office nearby and give them a call.

The easiest way to do that is go to the World Financial Group Website here. Next, in the upper right hand corner you will see the words, ‘Office Locator.’  Next to that click on the state you live in. If you live in Canada or another country you may have to call the home office.

wfg_21At this point a list of offices around that state will come up.  Select an office that is close to you and give them a call.   Ask them if you could attend their BPM ( Business Presentation Meeting)  This is a meeting usually held a couple times a week that explains more about the company and the opportunity available .  If you live in the city, offices will tend be close; however, if you live in the middle of nowhere you may have to do a little traveling to get there.  In fact, I had to drive an hour and a half to get to my office.

Now, there is a down side to doing it this way and that is that not all offices are created.  So when you do go to an office find out how successful they are.  Tell them you heard that World Financial Group has been a very successful company and you would like to know what kind of success they have had.

If they can’t give a straight answer move on.  Also look for plaques and trophies and other awards that office has won.  The evidence should be clear.  If they don’t have these things keep looking until you do find a good office.  If an office has a lot of success then there is a good chance you will too.

Chris

Reviewing

This post was recently featured in The Money Hacks Carnival by The Canadian Finance Blog.


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