Question 1

What is Social Networking?

Accepted Answer

What it teaches:

Video Transcript:

Networks get things done. Whether it's sending a letter or lighting your home. Networks make it happen.

To get from Chicago to Santa Fe, we need to see the network of roads that will get us there. We see that Chicago is connected to St Louis, which is connected to Dallas, which is connected to Santa Fe.

Of course, people networks can help us with finding jobs, meeting new friends, and finding partners. You know how it works. Bob is your friend, he knows Sally, and Sally's friend Joe has a job for you. This is a network of people - a social network. Yaaay!

The problem with social networks in the real world is that most of the connections between people are hidden. Your network may have huge potential, but it's only as valuable as the people and connections that you can see. Boooo!

This problem is being solved by a type of web site called a social networking site. These websites help you see connections that are hidden in the real world.

Here's how it works. You sign up for a free account and fill out your profile. Then, you look for people you know.

When you find someone, you click a button that says, "Add as Friend". Once you do this, you and that person have a connection on the website that others can see. They are a member of your network, and you are a member of theirs.

What's really cool, is that you can see who your friends know, and who your friends' friends know. You're no longer a stranger, so you can contact them more easily.

This solves a real world problem because your network has hidden opportunities. Social networking sites make these connections between people visible.

Like a map for a highway, they can show you the people network that can help you get to your next destination, whether it's a job, a new partner, or a great place to live. Your network is suddenly more useful.

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This FAQ library was created by Eran Bucai. Eran is an online entrepreneur who is passionate about helping people find success building a profitable business online without the high ticket prices and without the marketing hype.

Eran has a tech support membership which you can learn more about here: DotComTruths.com

Eran helps people choose the best software for their business which you can find out more by visiting [EranFunnels.com/software](https://eranfunnels.com/software).

Question 2

What is Terms of Service Agreements?

Accepted Answer

What it teaches:

Using technology often means having a relationship with a company or organization. Accepting their Terms of Service agreements can be a required part of using the service. This video teaches why these agreements exist, and how they can impact users. It teaches:

How Terms of Service agreements are easy to overlook
How lack of awareness about these agreements could cause problems
Why Terms of Service agreements exist
How Terms of Service can be used to understand a company’s policies

Video Transcript:

The first time you use an app or online service, you’re likely to see a checkbox that says something like, You agree to our Terms of Service. To proceed, you have to check the box.

You might assume that the Terms of Service doesn’t really matter or reading it isn’t worth your time. So, you check the box without knowing what it says. And that’s where problems can begin. Think about it this way.

Imagine visiting a water park with slides and pools. Before you jump in, you need to sign a contract that looks a lot like Terms of Service. The water looks inviting, so you quickly sign it and jump in.

Then two weeks later, a commercial for the water park appears and there you are, in a swimsuit, on TV. You’re horrified and frustrated. How could this happen? They didn’t ask me about this. Did they?

The contract you signed when entering the park was legally binding. That contract said your image could be used in advertising, but you never saw that section. Now, it’s too late.

The water park contract and Terms of Service on websites and apps are similar. Both are meant to make the relationship between you and the company clear and help avoid disputes.

So that check mark has a lot of power. When you check it, you are agreeing to a set of rules, written by the company, that could impact your privacy, your access to the site and your ability to resolve disputes with the company, among other things.

An example is social networking. Before using a new service, you must check the Terms of Service box. This time, however, you read it and find that it outlines items like ownership of what you share and what represents misuse of the service.

Down in the middle of the document you see information on privacy and find that the company has the right to sell your personal information to other companies, including your email address. In another section, you learn that your account can be closed at any time, without notice.

Suddenly, this new service looks different to you. The terms of service has details that matter and could influence your decision to join. This time, you decide it’s not worth it.

Reading and understanding the Terms of Service agreement provided a way to know your rights and understand the website’s policies. So, it’s not just a single checkbox. If you check it, you are agreeing to a number of checkboxes for rules that could matter to you.

If the rules seem fair to you, check the box and dive in. But if you don’t agree with them, you have the freedom to not check the box and find another service that better fits your needs.

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This FAQ library was created by Eran Bucai. Eran is an online entrepreneur who is passionate about helping people find success building a profitable business online without the high ticket prices and without the marketing hype.

Eran has a tech support membership which you can learn more about here: DotComTruths.com

Eran helps people choose the best software for their business which you can find out more by visiting EranFunnels.com/software.

Question 3

What is Two Factor Authentication?

Accepted Answer

What it teaches:

Passwords alone may not be enough to keep criminals from accessing your sensitive online accounts and causing serious problems. Using a simple analogy of an offline storage company, this video explains Two Factor Authentication and why it matters. It teaches:

Why a second layer of security may be needed in addition to a password
Why two factor authentication is effective
How two factor authentication works
How to enable two factor authentication
What to expect when logging in with two factor authentication

Video Transcript:

So much of our lives are online today, and all that is protecting most of it is a simple password.

It’s called two factor, or multi-factor authentication. Just like it sounds, this type of security requires more than one type of information for accessing a website or app. Think about it like this…

Let’s imagine a storage building that contains bags of your money, photos of your family, important documents and more. For a long time, you could go to the entrance and provide a password to access your property. Your password was memorized which means it’s something that you know by heart.

This system worked for a while, but criminals started trying to guess passwords and the risk became too high. So the owner of the building added a new layer of security, another factor.

This isn’t a code you know by heart. It’s something that you can only receive right when you need it. It’s another factor - something you have.

In this case, you can use an app on your phone that provides a code that is connected to the lock on your door. As long as you enter the code before it expires, you can enter the room.

This is the big idea behind two factor authentication. Knowing only one factor, your password, will only get a criminal into the lobby of your building. To get to your room, they would need a code that is only provided to your phone and expires quickly. That’s the second factor - a code that you have.

Today, more and more websites and apps are offering two factor authentication.

The next time you log in, you’ll enter a username and password you know. Then, the site will ask for your authentication code. In most cases, you’ll use your phone or device to access the code and enter it to complete the login.

Two Factor or Multi-Factor Authentication is a much more secure method for keeping your personal information safe. To help keep criminals out of your online life, enable it on accounts where it is offered.

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This FAQ library was created by Eran Bucai. Eran is an online entrepreneur who is passionate about helping people find success building a profitable business online without the high ticket prices and without the marketing hype.

Eran has a tech support membership which you can learn more about here: DotComTruths.com

Eran helps people choose the best software for their business which you can find out more by visiting EranFunnels.com/software.

Question 4

What are Web Browsers?

Accepted Answer

What it teaches:

Web browsers are among the most frequently used software on any personal computer or device, yet they are often misunderstood. This video covers the basics of web browsers and explores features and tools that may be new to many users. It teaches:

The concept of the browser as software that makes web pages easy to use
The basic navigation features such as back and history
The use of keyboard shortcuts and menus for accessing features
How browser extensions and add new features
The use of tabs, search and “find” options

Video Transcript:

When you use a computer, software makes it easy to write letters, edit photos, and watch a video. The same is true when you connect a computer to the Web. Software makes web pages useful and easy to navigate. This software is called a web browser.

You open a browser with a click, and it connects you to web pages using web addresses or URLs. You simply type an address in the address bar, or click a link on a web page, and your browser uses the address to find the right page.

Computers and mobile devices come with browsers automatically, but you can also download new ones for free, and even have more than one on a computer.

But browsers do a lot more. To explore the options, we’ll use menus like this and keyboard shortcuts, which make things happen by pressing two buttons at the same time.

For example, with billions of web pages and long addresses, it can be hard to keep track of what’s important to you. A browser can help by remembering where you’ve been over the short term using the back button, or over time with the history menu. And you can add a bookmark for any page to get back to it quickly.

And a browser is a little like a vehicle - you can customize it to make it your own. Instead of new wheels and a stereo, you can add browser add-ons or extensions. These can be downloaded from your browser’s website and plugged right into your browser with a click. But your browser does a lot without extensions.

For example, you may need to see three websites at the same time for comparing movie times. Instead of opening three browsers, you can just open new tabs in a single browser window. As long as tabs are turned on, you can add new tabs from the browser or with shortcuts.

And what would you do without search? Thankfully, most browsers come with a search box built-in. Just enter a keyword here and your browser will take you directly to the results.

Browsers also make remembering passwords easy. When you enter a password, your browser can remember it for the next visit. But be careful, using this feature on shared computers is like giving strangers your car keys.

Oh, and here’s a great shortcut. If you’re looking at a long page of travel info and only care about Hawaii, your browser can search the page. Just “find” it using the “edit” menu or the keyboard shortcut and those words will be highlighted on the page.

And finally, browsers need to be updated regularly. Be sure to install updates when asked. This will keep your browsing safe and sound.

A web browser is your window to the online world and knowing what’s possible can make it work for you.

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This FAQ library was created by Eran Bucai. Eran is an online entrepreneur who is passionate about helping people find success building a profitable business online without the high ticket prices and without the marketing hype.

Eran has a tech support membership which you can learn more about here: DotComTruths.com

Eran helps people choose the best software for their business which you can find out more by visiting EranFunnels.com/software.

Question 5

What is Wikipedia?

Accepted Answer

What it teaches:

Wikipedia is an amazing resource, but it’s not always clear what helps to ensure that the articles are factual and high quality. This video discusses wiki technology and the policies that make Wikipedia work. We worked with the Wikimedia Foundation to ensure that it reflects Wikipedia's values and practices. It teaches:

Why an online encyclopedia is needed
The basics of editing a wiki website
How volunteers work to ensure quality
The two big rules that govern every article

Video Transcript:

You've probably seen encyclopedias. Whether you're settling an argument or researching a school project, these books can hold the answers. These days though, the world moves so fast, it's hard for books that were written months or years ago to keep up. Thankfully we have a new kind of encyclopedia that's online, free, built by thousands of people and changes every day.

The idea that thousands of volunteers could create an online encyclopedia doesn't sound possible, but thanks to new technology and specific policies, Wikipedia has become one the top 5 sites on the Web. The site is run by a not-for-profit foundation with a goal to provide everyone on the planet access to the sum of all human knowledge.

To see how it works, let's get started with the "wiki" in Wikipedia. A wiki is a kind of website that allows users to make changes to any page. They simply click edit, make the change and then save the page to share it with the world. This basic concept allows volunteers to contribute information on any subject in Wikipedia. And because Wikipedia is a website - there is no limit to the number of topics it can cover.

Being a wiki means that Wikipedia is always changing. When someone notable passes away, Wikipedia is updated. When news breaks, Wikipedia grows. It all works because tens of thousands of volunteers contribute, and also enforce rules to ensure Wikipedia remains a reliable source for factual information. These users, like any member, can see changes as they happen on each article. For example, if someone posts an advertisement on Wikipedia, which is forbidden - volunteers can easily reverse the change to maintain the article's integrity.

This means every change to Wikipedia is reviewed and must abide by two big rules:

The first is verifiability, which is necessary to ensure high quality. For this reason, Wikipedia articles must rely on information from published sources like books or newspapers - resources known for fact-checking.

Requiring contributors to cite these resources in articles and quotations ensures Wikipedia articles are factual and high quality. If it's not verified, it can't be in Wikipedia. For example, you can write that the US unemployment rate in 1935 was 20.1%, but you must also cite its source for it to remain in Wikipedia. In this case, numerous history books could be verifiable resources.

The second rule requires a neutral point of view. All Wikipedia material must be presented fairly and without bias, just like any other encyclopedia. This means Wikipedia is not a place for contributors to share their own opinions.

Let's say you're an advocate for vaccinations and you write “every parent should get their children vaccinated.” Unfortunately, this is biased and certain to cause disagreement. However, published opinions of experts can be included. For example, writing that: “vaccinating all U.S. children saves an estimated 33,000 lives,” and citing a reputable source is a statement of fact that can be verified. And if there is an opposing view, it should also be included to balance the article and keep it neutral. The article should present all the major opinions without endorsing one over the other.

It's these two rules and the volunteers who uphold them that make Wikipedia a reliable resource that grows each day. And you can be involved. It's all part of the process of building a free encyclopedia - the largest encyclopedia in human history.

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This FAQ library was created by Eran Bucai. Eran is an online entrepreneur who is passionate about helping people find success building a profitable business online without the high ticket prices and without the marketing hype.

Eran has a tech support membership which you can learn more about here: DotComTruths.com

Eran helps people choose the best software for their business which you can find out more by visiting EranFunnels.com/software.

Question 6

What are Zombies?

Accepted Answer

What it teaches:

This is a satirical video created to celebrate Halloween and help protect your brain. The video focuses on surviving a zombie attack. It teaches:

• Identifying zombies

Video Transcript:

These days, you have to watch your back. Danger may be lurking where you least expect it. You may find a relative, friend or neighbor coming after one thing - your brain!

This Halloween is forecasted to be a high season for zombie attacks - and we’re going to help you get through it, brain intact.

The first step is identifying a zombie. Let’s take your uncle Dan. Here is Dan as we all know him - a normal guy. Now let’s look at Dan as a zombie. Notice the unnatural mouth position and dark eyes... the shoulders will be off-kilter, arms, reaching, grabbing. Legs, limpy - skin, pale. This is a zombie.

Be careful this Halloween - you may see people that resemble zombies. Remember, zombies don’t eat candy - only brains.

When you encounter a real zombie, it’s time to have a plan. Here’s how to survive an attack.

Your first reaction may be to retreat to a home or business. This is only a short term solution because they will never stop - ever. Instead, consider heading to a Costco. Don’t plan to wait out an attack without proper rations.

Now keep your cool - remember that zombies may move quickly in the early stages of infection - don’t underestimate their speed. Also, consider a retreat to high altitudes. Studies have shown that zombies react poorly to cold weather, causing them to become brittle and slow.

Lastly, zombies can’t swim, so a retreat via boat can help. And remember those rations.

If you’re not the retreating type, the obvious next move is counter-attack. This brings us to our last step - how to kill the UNdead. The simple idea is... kill the brain, stop the zombie. This is generally done through head trauma or decapitation. But any method that removes the zombie-brain’s ability to direct the undead body will work.

As starting points, we suggest large caliber bullets to the head, or decapitation via machete, ax or chainsaw. Now, chainsaws are advanced tools that should be used carefully. Napalm or grenades can also be effective, but be carefull! A flaming zombie can be even more dangerous than a real one.

If your friend has a zombie bite, unfortunately there is only one outcome. Infection is absolutely irreversible. Don’t bother with antiseptic or band-aids. Your friend is not your friend anymore. Face the inevitable and save your brain. Kill them with dignity before they become undead too.

Remember: Be prepared. Plan your route and rations, be on the lookout, and when they -

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This FAQ library was created by Eran Bucai. Eran is an online entrepreneur who is passionate about helping people find success building a profitable business online without the high ticket prices and without the marketing hype.

Eran has a tech support membership which you can learn more about here: DotComTruths.com

Eran helps people choose the best software for their business which you can find out more by visiting EranFunnels.com/software.

Question 7

What is Agile Methodology?

Accepted Answer

What it teaches:

Traditionally, software has been developed using a process called Waterfall Methodology. In recent years, a new way using Agile Methodology emerged and fundamentally changed how we think about software development and other projects. This video explains the basics of Agile Methodology. Using an analogy of two road-tripping teams, this video highlights how Agile Methodology offers the chance to reach better than expected outcomes. It teaches:

The two basic approaches to software projects: Agile and Waterfall
The role of continuous iteration and cycles of development
Why the final destination is not always known in Agile projects
How Agile projects can produce unexpected results

Video Transcript:

The dragons and the sharks are two teams who both love to develop software…and recently clients came to them independently with exactly the same needs. How they each complete these projects highlights an emerging way that software is created.

Each team sees software development as a road trip - like trying to get from the east coast to the west coast efficiently and with the best possible outcome for their clients. Right now, everyone involved expects Portland, Oregon to be the ideal place to land.

The dragons are planners. Here one group may research, test and plan every part of the trip and hand-off responsibility to other groups for putting those plans into action.

They make assumptions early in the process that defines the path forward.

The sharks, however, look at their journey a little differently. Portland looks good to them now, but they prefer to keep their options open and learn along the way.

While the dragons are still planning, the sharks get on the road as quickly as possible. Rather than handing off the driving to different teams, they take a mixed team with them throughout the trip.

They look at the trip as a series of sections or legs – and each leg informs the next. At every step, their team takes time to reflect on what they’ve learned and whether or not the route should change. This way, the next leg starts with lessons they learned from the last.

This repeated cycle means the Sharks may move more slowly than the dragons. It also means that the final destination, or what it will take to get there, isn’t always known ahead of time.

While the dragons stay focused on that address in Portland...the sharks reach the Rockies and discover that Portland may not be the best destination for their client’s goals.

Their tests and discussions show real potential in heading towards San Francisco instead. The closer they get to the coast, the more new information guides their way.

In this simple example, the sharks are using agile methodology – with frequent cycles of iteration. They understand that up-front planning is helpful, but the best outcomes come from learning from experience. They plan for change, respond to data and communicate clearly within a diverse team.

The dragons, on the other hand, use the traditional waterfall method, where upfront plans are followed throughout the project.

At the end of the trip, both the sharks and dragons reach the west coast successfully, but at different places.

Portland works for the dragons. But because their early assumptions were a little off, they nearly ran out of gas and didn’t prepare for the weather. By following the plan, client expectations were met.

But the sharks are celebrating in San Jose. Their software works and solves problems their clients didn’t know existed. They discovered a new destination that exceeded their client’s expectations.

While Waterfall methodology can be ideal for some types of projects, Agile Methodology gives software teams the chance to make their outcomes even better than expected.

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This FAQ library was created by Eran Bucai. Eran is an online entrepreneur who is passionate about helping people find success building a profitable business online without the high ticket prices and without the marketing hype.

Eran has a tech support membership which you can learn more about here: DotComTruths.com

Eran helps people choose the best software for their business which you can find out more by visiting EranFunnels.com/software.

Question 8

What is Artificial Intelligence?

Accepted Answer

What it teaches:

The goal of artificial intelligence is to create computers that are as intelligent as humans. Achieving this goal is a huge, huge challenge.

Today, researchers are making progress and forms of artificial intelligence are starting to appear in everyday life. This video teaches:

Video Transcript:

Computers do a lot for us these days and can sometimes seem intelligent like a person. But really, they’re more like calculators. Most only do exactly what we program them to do and nothing more.

But this may change in the future. Today researchers are working on artificial intelligence which has the goal of making computers seem to be as intelligent as humans.

Let’s take a look at what’s possible today. Talented programmers can currently provide instructions to computers that help it do amazing things. We’ve seen computers beat professional chess players…and win trivia game shows. We can now have basic conversations with our smart phones.

These are possible because their use is very narrow – the computer can be programmed do a small number of things amazingly well. But the computers we have today are just getting started.

The challenge of true artificial intelligence is a computer with the same broad intelligence as a human. Here, the same computer that can beat you at chess, would be able to teach itself new concepts and react appropriately to your emotions...It would be able to converse with you like another person and comprehend abstract ideas.

This sort of intelligence may be in our future. Here are a couple of the big challenges.

The first is learning to learn. Here, additional instructions from a human wouldn’t be needed for the computer to teach itself new skills, ideas and concepts.

For example, it would be able to learn from experimentation, interactions with humans or exploring data and information from other sources. This gets computers closer to human intelligence.

But the real challenge here is creating computers that have the emotional intelligence and empathy that make us human.

Think about it this way… Human intelligence comes from a huge, complicated mix of life experiences, education, culture, emotion, genetics, and much more. All these things overlap and make us the intelligent people we are.

We take it for granted, but understanding and interacting naturally with humans is really complex.

This is a problem that’s very difficult to solve and likely a long way off.

And there is even another level of intelligence that we can imagine.

What if very powerful computers could use all mankind’s knowledge to achieve things that are beyond our current understanding? They would become far more intelligent than the smartest humans.

Some worry that these super intelligent computers may someday be able to work together and become a problem for humans.

But that’s not a worry today. We’re a long way from this level of intelligence. We’re still working on solving narrow problems and learning. But over time, we can look forward to artificial intelligence becoming a bigger part of our lives.

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This FAQ library was created by Eran Bucai. Eran is an online entrepreneur who is passionate about helping people find success building a profitable business online without the high ticket prices and without the marketing hype.

Eran has a tech support membership which you can learn more about here: DotComTruths.com

Eran helps people choose the best software for their business which you can find out more by visiting EranFunnels.com/software.

Question 9

What is BitTorrent?

Accepted Answer

What it teaches:

This video teaches the basics of how BitTorrent technology works to make it easy and fast to download files from the Internet. It includes:

How files are shared on the Web and what makes BitTorrent different
The BitTorrent application and how it is used
How trackers, peers and hosts work together to deliver "pieces" of files
How anyone can use BitTorrent to share or download files

Video Transcript:

Our computer files aren't like they used to be. These days a short HD video can be over a gigabyte in size. That's huge.

The problem is that the bigger they are, the harder they are to share. Thankfully, we have options that make sharing big files over the Internet fast and easy.

Blake was so excited. He's the president of his local Sasquatch fan club and recently heard that a new video was circulating - he couldn't rest until he had the video on his computer. He tried to download it from the original website, but it was painfully slow. Because so many fans were trying to download it at the same time, The website crashed. He was discouraged.

Then a fellow fan said the video could also be downloaded via BitTorrent. She said that unlike typical downloads, files using BitTorrent actually download faster when more people are involved - and it works with any kind of file.

To see for himself, Blake downloaded BitTorrent for free from bittorrent.com. He opened the program, and was a little confused. There were no videos and he wasn’t sure where to start. But soon he realized that's because BitTorrent is a little like a web browser.

Just like a browser needs websites to be useful, BitTorrent needs special files called "torrents" to work. A quick web search pointed him to websites with torrents galore.

Soon enough he found the Sasquatch video torrent… downloaded the torrent file to his computer, and with a simple click, BitTorrent immediately sprang to action and the file started downloading. He could see it was working and he wondered how.

Later his friend made it clear by talking about how downloads typically work without BitTorrent. When someone downloads a file, it comes to their computer in a stream from a single source. When multiple people want the file, that single source can get overworked and can even shut down.

BitTorrent solves this problem by making each downloader a source… This way, they get pieces of the file, but also provide pieces to each other. Together, the downloaders become a network of multiple sources – all working to provide pieces to one another. This makes downloads fast. A couple of things behind the scenes make it happen.

First, when he clicked "Download", Blake received .torrent file. This file has all the information about the video file, like what pieces are needed to complete it – but something is missing. Blake needs a way to connect to others who have the pieces he needs for his file.

BitTorrent uses a computer called a” tracker” that helps Blake's computer find other computers called peers. The tracker keeps track of computers that are downloading or already have the whole file and introduces Blake’s computer to them.

With the connections in place, he receives what he needs and also distributes pieces to others who are also downloading. Blake got it.

BitTorrent works because it turns downloaders into sources, and more downloaders means more sources and faster downloads.

In the end, Blake’s video downloaded in no time at all. But he was a little disappointed – what he thought was a sasquatch was only a wookie. But at least he now knows that BitTorrent is a faster, easier way to download files from the Internet.

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This FAQ library was created by Eran Bucai. Eran is an online entrepreneur who is passionate about helping people find success building a profitable business online without the high ticket prices and without the marketing hype.

Eran has a tech support membership which you can learn more about here: DotComTruths.com

Eran helps people choose the best software for their business which you can find out more by visiting EranFunnels.com/software.

Question 10

What are the risks and realities of borrowing money.?

Accepted Answer

What it teaches:

This video introduces the risks and benefits of using a bank to borrow money. It tells the story of Rachel who reaches her goal of publishing an album by making smart decisions based on interest rates and timeframes. The video includes:

APRs - the fees involved in borrowing money
Basic borrowing plans
Risks of borrowing money
Avoiding penalties and late fees

Video Transcript:

Sometimes we don’t have the money we need to accomplish a goal. Borrowing money can help, but if we aren’t aware of how the system works, it can create bigger problems for us.

Among friends, borrowing money seems easy – you just pay them back. However, we sometimes need to borrow a large amount of money from a financial institution, maybe for a home, a car, or education. Understanding how these relationships work is a key to being responsible with your money.

Let’s say you need to borrow $10000 from a bank. As long as you meet their requirements, the bank is happy to loan you this money because when you pay it back, you’ll have to pay a fee. This is how the bank makes money – it’s called “interest.” When you borrow money, the interest you pay is usually a percentage of the total you borrowed. This percentage is called the “Interest Rate.” You’ll see this rate referred to as the Annual Percentage Rate or APR, which is the interest and fees you’ll pay over a year for borrowing money.

Let’s see how this works for Rachel. She’s a musician who needs to borrow $10000 to produce her new album. $10000 plus interest is a lot of money to pay back, but she doesn’t have to do it all at once. To make it more affordable, she pays it back in monthly payments. Each month, she’s paying back part of the money she borrowed plus part of the interest. It adds up over time.

This way, Rachel can see if she can afford to pay back the loan on a monthly basis. She found one loan that had a 5% APR with a 1 year timeframe. To pay it back, she would have had payments of $856 per month. It was too much! With what Rachel earns she would run out of money in just six months.

To avoid serious problems and owing even more money, she kept looking. Eventually, she found the right loan for her – a lower APR and longer timeframe. She found that spreading the payments across a longer timeframe meant less to pay each month.

Before signing on the dotted line, she was careful to understand all the terms of her loan. She learned that some interest rates could change during the loan which could impact her monthly payments. Because she had a fixed budget, she made sure the interest rate for her loan wouldn’t change.

While Rachel was asking questions, she learned the rules as well, because breaking the rules can cause an affordable loan to become a big headache. For instance, if she pays late, she may owe the bank more money. She made a promise to herself to pay on time and avoid any late fees. It was wasteful.

It was clear to Rachel that without care, problems could snowball. Changing APRs and late fees could have made her loan impossible to afford. Because Rachel took the time to find the right loan for her, she was able to pay back the loan on time and publish her new album. Yaay!

Borrowing money can help you accomplish your goals, but only if you’re realistic about what you can afford. When it comes time to find a loan, discuss it with a financial professional and ask questions. Learn about your payments and terms. It’s up to you to make sure you know the rules and get a loan that fits your needs.

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This FAQ library was created by Eran Bucai. Eran is an online entrepreneur who is passionate about helping people find success building a profitable business online without the high ticket prices and without the marketing hype.

Eran has a tech support membership which you can learn more about here: DotComTruths.com

Eran helps people choose the best software for their business which you can find out more by visiting EranFunnels.com/software.