Want to Fix Your Student Loan Debt Problem? Here are 3 Out-of-Box Ideas that can Help

The one obstacle that prevents most millennials from growing their wealth is student debt. Loan installment payments have made it near impossible for them to invest and ride the wave of rising market.

If you are also one of those individuals who are entrapped with student loans, you should consider following the below mentioned 3 creative ideas to fix your debt problem. Any actions that you take, and sacrifices you make, in this regard will be worthwhile in the end as you will be able to enjoy all the good things in life that money can buy.

1. Apply for Public Service of Teaching Position

Creativity Level: Medium

One of the most overlooked yet effective ways to lessen student debt problem is to apply for a teaching or public service post. Some posts advertised in these two sectors give incentive to individuals by forgiving part of or the entire loan amount. This can be a great way to get rid of the debt problem.

However, there is one drawback to using this strategy. You need to complete the full term of the contract before your loan can be forgiven. As a result, you should be ready to forgo more lucrative job opportunities elsewhere if you use this option to fix your student loan debt problem.

2. Ask for a Raise

Creativity Level: Low

Requesting for a pay increase is another way to solve student loan problem that not many people consider, and which is one of the most effective ways to end the debt trap. But before you knock your boss’s door and ask for a raise, it’s important that you prepare a case in favor of a raise by gathering facts and figures.

You may also consider landing an offer in another company before going to your boss for a raise. This will increase the likelihood of a successful outcome of the negotiation.


3. Visualize Life without Student Loan

Creativity Level: High

Although this strategy will not directly help you fix the debt problem, it will provide you with the motivation to take actions to change your present position.

If you have read the book ‘The Power of Visualization’ written by psychologist Dr. Lee Pulos, you will know that through visualization you can achieve anything in life. And this also applies to reducing the debt burden.

Here is an easy tip on how you can start your visualization process.

Imagine the one thing you want in life that can only be possible when you are able to eliminate bad debt. Is it saving enough to go on a dream vacation? Or maybe start a new business? Now imagine that you have paid all the loans and that you are living a debt free life achieving the things that you want in life.

Once you visualize success, your mind will automatically go to work and come up with a creative solution to the problem. It can help you to identify and eliminate the roadblocks making your path to success real and achievable.…

Internet Threats: Bitcoin Breach that You Need to Know

The cyber world is shaken to its core, at least for a large number of Internet users that do Bitcoin exchange. Hackers once again infiltrated what should be a secure authentication system that protects transactions for Bitcoin. Earlier in August 2016, the cyber thieves stole approximately $65 million worth of virtual currency. This is the second largest cyber theft after a Tokyo-based exchange hack costs $350 million in 2014. Cryptocurrencies are hot targets or cyber criminals since the dawn of its existence in the virtual world.

There is a continuous rising concern among Bitcoin holders as the third trading platform of the company also fell prey to hackers. Newly disclosed data also show that roughly half of these trading platforms have officially closed in the last 6 six years. One of the many concerns among Bitcoin exchangers is that there is no depositor’s insurance that would absorb the loss. This is the unfortunate truth despite the fact that Bitcoin exchanges are like virtual banks in nature.

Web threat

The cyber security risk for Bitcoin continues. In fact, investors are left with minimal choice in transacting with under-capitalized exchanges and still risk uninsured deals.

Not Lifting
Investors that lost a few thousand dollars in the hack only have the consolation that there are other traders out there that lost millions.

Security Challenges
This is one of the biggest differences between virtual currency exchange and regulated banks or exchanges. The centralized repository of any Bitcoin community seems to be always at risk.

According to cyber experts, there are no pending technological silver bullets that are geared to solve the Bitcoin security breach issues.

The digital world is not fully equipped with the technology, financial mechanism, and cryptocurrency that protect Bitcoin investors from hacks. Thus, this virtual currency exchange will continue to be vulnerable in the years to come.

According to information from the US Department of Homeland Security, 33% of all Bitcoin exchanges from 2009 to March 2015 were hacked. In contrast, only 1% of regulated bank transactions and operations from the same timeframe have been reportedly affected. Security breaches are at a higher rate with cash flows in these particular trading venues. More than half of virtual currency operations in the past 3 years have also experienced cyber attack, according to the World Federation of Exchanges and International Organization of Securities Commissions.

The Internet community’s continuous concern is on the issue if the lost or hacked virtual currencies could be reimbursed to their members. In the most recent hack, Bitcoin holders lost 36% of their assets in the platform. The compensation is in the form of tokens of credit that are convertible to equity in the main company. Regardless of the compensation, experts confirm that trading venues will continue to be big targets for Internet hackers.…