Credit and Debt Archives - The Outlier Model

2 Money Mistakes Keeping You in a Debt-Cycle

Allen Francis / September 26th, 2020 / No Comments

Did you know that the average person owes over $90,500 in debts? That is because debt is a like a viral financial mindset. The average person mired in debt can only create money by generating more debt. This is a debt-cycle mindset created and perpetuated by desperation and complacency. I am not judging you. I have been broke, homeless, and it took me a decade to learn I had fostered a debt-cycle...

You’ll Be Shocked To Learn Where Your Mortgage Is Likely To Be Denied

Allen Francis / November 7th, 2019 / No Comments

There are more American homeowners renting homes than any other time over the last 50 years. Almost 65% of Americans are homeowners but over 36% of those homeowners rented instead of owned their homes. Among other facts about homeowners to consider: • Almost 40 million homeowners are financially strained • Over a third of all homeowners allot 30% or more of their income for home finances...

Posted in: Career, Career and Work, Credit and Debt, Home, Personal Finance, Real Estate Tagged with: mortgages are denied

Why You Must Open a Bank Account and Why 25% of People Don’t

Allen Francis / October 20th, 2019 / No Comments

I didn’t get my first real bank account until I was in my mid-20s. The whole process of getting one just felt overwhelming. I eternally regret not getting one when I was 18. Getting a back account earlier in life would have helped me learn more about being financially responsible. When I started college way back in 1994, I did have a bank account. I just couldn’t deposit any money into it. An...

Posted in: Credit and Debt, Money, Online Income, Personal Finance, Saving Money Tagged with: bank account

Five Easy-To-Pawn Items

Allen Francis / September 26th, 2019 / No Comments

(Photo by Jonathan McIntosh via CC BY-SA 2.0) What items are easy-to-pawn? Like many people, I have visited a pawn shop more than once in my life. I have pawned rings, various kinds of jewelry, and musical instruments on multiple occasions. What struck me during each transaction was that the loan was of a lesser value than that of my pawn items. That is the point for pawnbrokers, and pawnbroking is...

Posted in: Business, Credit and Debt, Personal Finance Tagged with: five easy to pawn items, pawn items