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Something occurred to me today about some individuals that blog and write articles in today’s New Media World. Do they do it as an obsession or as a passion? I’ve seen lots of sites where the article or blog post says a lot about nothing, and then the opposite on others that really tell a story or explain in great detail.

Take for example, Captain Ahab from Moby Dick. He was obsessed about capturing the Great White Whale. So much, that it took over his life and that’s all he could eat, sleep and dream about. His obsession became all he did and nothing else mattered to him. He wasn’t passionate about capturing the whale, simply obsessed, to the point that not finding the whale, could mean that his life would be meaningless.

Now, take a person that has a passion for what they do. Their career, hobby or other form of entertainment is what drives them to succeed. They in turn, take this passion, and lead, teach, educate or simply talk to others about it. Blogging, podcasting, videocasting and other New Media technologies allows this type of person to expand their interests and get others involved, while at the same time, giving out meaningful and informative time to others to spread their passion for what they do.

On the flip side of the coin, the person who is simply obsessed in taking their hobby or other interests and are going to “get rich on the Internet” (as an example), will take every waking moment trying every scheme that comes their way, because, someone else is making a million dollars on the Net, why can’t I? Their obsession becomes their life’s goal and they will take every penny they own to buy the “next best thing that comes along” only to find that it still hasn’t happened yet.

The person who proceeds because of passion, will be the person who succeeds in making a living doing something they like to do. Whether on the Internet or in the Brick and Mortar World, their passion will help them to become the person they desire to be.

The person who obsesses over “getting what they rightfully deserve” will almost always fail, because they are going about it the wrong way. If this person were to actually meet some of their “heroes” or “millionaires” from the Internet, I think they would more than surprised to find that most of these so called successful people that are selling them the New Media Snake Oil, aren’t as successful as they lead everyone to believe.

Now, I’m not saying that no one is making a million dollars on the Internet. There are plenty of people, I’m sure, that are. What I am saying is, that these successful people aren’t going to give you their secret to success for $7.00 or even $27.00. These successful people will most likely coach you on how they did it, and of course, there will almost always be a speaking fee attached or a seminar fee to pay.

Here’s a prime example of what I’m talking about. A good friend of mine approached me recently and was all excited because he just paid $20.00 to get an eBook on how to make money by using eBay. Now, I’ve bought and sold many things on eBay and I have seen people come and go, but really, let’s be honest here, actually, do you really need a book to tell you how to do this? eBay has some really good online instructions and FAQ’s on how to buy and sell on eBay.

Anyway, I digress. He proceeds to tell me that he just downloaded this eBook and it was only 10 pages in length. I stopped him before he could go any further. I asked him, “Have you read this eBook yet?” and he replied that he just got it and was getting ready to sit down and was anxious to start making money on eBay.

I told him that the eBook most likely, only 10 pages in length, wouldn’t tell him much more than “to make money on eBay, sell something!”. He laughed and said he would call me after reading the book. About 15 minutes later, he called and was a little disappointed. Ok, a lot disappointed. He proceeded to tell me that in the 10 pages of this eBook, was little more than how to set up an account on eBay, and instructions for how to sell items on eBay. The final blow came on the last page! It actually told him that in order to make money on eBay, he would have to sell something! He thought that I had already purchased this eBook before he did. I hadn’t.

In short, this “author” made $20.00 off of an unsuspecting person who was reaching for the Brass Ring. P.T. Barnum said it best, “There’s a sucker born every minute!”. And unfortunately, there is no shortage of “suckers” today reaching for that Brass Ring that will buy anything that promises an “easy road to riches”.

So, the question begs, Is it your Obsession or your Passion?

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Many students think that defaulting on a student loan after graduation is a smart way to get rid of a debt. After all, they no longer need the money for school and in fact need the money for settling into a job and new home.

However, defaulting on a student loan is a terrible mistake in almost all cases, because it affects your credit rating very negatively. If you have student loans, it is important that you start repaying them on schedule and that you repay them on time. Doing so will actually improve your credit score.

If you are having trouble repaying your student and college loans, speak to the lenders rather than ignoring the problem. Most lenders will actually give you a six month grace period after graduation so that you can find a job and settle into post-college life before repaying your loans.

If you have several loans, your lenders may be willing to help you pool them into one larger loan payment that requires smaller monthly payments. Some lenders will also give a few months grace in case of unemployment.

Read your loan agreements carefully to find out what your student loans are like and what is forgiven in them. If you need to, work out a different payment schedule, seek out refinancing, or find some other way to repay.

Only default on your student loans as a last resort when you really have no way of repaying your debts. In that finality, be prepared for the decision to affect your credit score quote badly for some time.

Once you default on one loan, it really counts against your credit rating – especially since as a new graduate you do not have a long credit history yet. After all, lenders who see that you have defaulted on one financial responsibility will wonder why you wouldn’t default on their loan, as well. After defaulting on your student loan, you may be unable to get credit for some time and you will have to work much, much harder to re-establish good credit.

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