I was reading a recent CNNMoney.com article titled "How the Crisis is Changing You." According to reporter Dan Kadlec, "frugality and safety are in; bling and plastic are out. The economic meltdown has sparked a major shift in our financial values. And one that's likely to last."

Sure enough, 89% of survey respondents said that they have changed how they manage their money since before the recession began - and they plan to keep the change in the days ahead. Consumer behavior experts are saying that this time in financial history will be transformational; much like the Great Depression shaped a generation of Americans.

Traumatic experiences have a way of revolutionizing the way we look at our lives. Relationships and personal growth permanently replace material gains in the financial pecking order.

Picture a child standing next to his mother in a kitchen. The child comes close to touching the stove top, but his mother stops him: "No, no, no - you'll get burned!" Yet, because this child has never actually been burned, he has no understanding of the result of touching a hot stove. So he does it again and - SINGE! - burns his hand. Now he knows.

Credit - in the form of plastic, home equity loans, home equity lines of credit, auto loans, and personal loans - has been so easy to get for years. Living outside of our means has been a way of life until recently. The national savings rate just turned positive in past few months. It took burning our hand - the one with the credit card in it - to drive us back to a place where saving money for emergencies and purchases, valuing people over more stuff, and breaking the chains of consumer debt all make sense.

One of the positive outcomes of the Great Depression was the generation of young people who grew into disciplined financial managers. Their entire system of values was stripped bare and reconstructed with The Roaring '20s behind them and Hoovervilles ahead.

How has your system of values changed in the last two years? Perhaps that transformation is the silver lining of our current "crisis."

Derek Sisterhen is a financial coach with Lukas Coaching. He helps individuals and couples establish goals for their lives and their money, then creates a plan for accomplishing them. His clients have been able to eliminate their debt in 24 months or less without any gimmicks or complex products. In fact, he doesn't even sell investments or insurance so his clients' best interests always remain at the forefront. Visit http://www.lukascoaching.com to reach Derek and for great resources.

Article Source: http://EzineArticles.com/?expert=Derek_Sisterhen

Women today are becoming "responsible" for their finances for several reasons. Sometimes it's due to a divorce, sometimes women lose their spouse or it may be a young woman graduating college and living on their own for the first time. In any case the big question is "ARE YOU READY?"

In most cases we want to say yes but inside we are saying NO!!! Now, let's take hold of that question and give it the best possible answer: "I am prepared". How can you prepare to take care of yourself financially?

Here are some basic, simple things you can do:

1. Take Inventory. You will need a simple, college ruled notebook. Standing in your home or apartment, look around you. Begin on page 1 of your notebook; label the top of the page "THIS IS MY STUFF". Now start listing everything you own in each room of your house. This seems unnecessary, but it is important, at this point in your life, to know what you own today.

2. Take Financial Inventory of Money In and Money Out.

Money In:In the next pages of your notebook, start to write down every place that you have money. List your bank accounts, your investments, your cash stash, your IRA, your 401K, your life insurance proceeds from your spouse.

Money Out: Follow that list with the list of what you owe and who you owe it to; the banks, the credit cards, the car payment, the house.

3. What brings you money and where do you spend it? Next is the list of where new money comes from and where you spend it;

Money In: List all the places you make money; new job, old job, pension plan payments, social security for example.

Money Out: List all the places you will have to spend money every month, a monthly budget is very important and don't forget to include some "fun money"!

4. Step Back and Decide: Are you happy with what you see in front of you on the pages of your notebook? If the answer is NO, then you will have to develop a plan to improve the situation. If you say YES, that's great and you should feel good about understanding your readiness for life!

This is your starting place, the journey can be fun and your future is a blank canvas and now its your time to paint the picture of your life to come!

Diane Dutton, MBA, CPA, Speaker,Financial Coach for Women, Business Strategy Consultant and author of "A Woman's Ladder To Success", http://www.businesswomenspeak.com/womenladder.htm

For more information on this and the other factors facing your business growth potential , find books, systems and financial coaching at http://www.execsolutions.com

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The Government gives billions of dollars away each year in the form of grants. If you need a personal grant or business grant, the government has everything that you need. Now that the government is giving away free money, now is the time to take the government up on its offer.

Grants do not need to be repaid, so you can receive ten's of thousands of dollars each year to fund a small business or even pay bad debts, get money for home repairs and most of all just have some extra cash in order to buy a house or a car. The opportunities are endless.

You qualify for a grant if you are at least 18 years of age and are a US citizen. There is no credit check, no income verification, and most of all, you can have the worst credit in the world and get free money and never have to pay it back!

Sounds like a win-win situation here.

So how do you find this information?

Some large companies have put together grant information, and because this information changes so rapidly, information that you would find through a search on the internet is more than likely be out of date. That is why it is important to choose a company that has prepared all of your options so you can be sure that you:

1. Get correct information to help you get a your grant.

2. Know the information is up to date, so you don't apply for the wrong grant or for a grant doesn't exist anymore.

Depending on what type of grant that you would like to get, there is a certain amount of money given away each year to Americans per grant. So if you want free government money, be sure to find the correct information.

I have found this resource for grants and I am sharing it with you. Find Free Government Grants.

They will send you a CD for just shipping and handling. The CD contains ways to get a government grant, how to write a grant and which ones are the best to apply for as this information is updated all the time.

They are a reputable company, and specialize in this information. Find Free Government Grants.

The information only cost $1 to get shipped to you. Then you can decide which grant you want to apply for. Remember, you can apply for more than one grant at a time. Students get them all the time.

Article Source: http://EzineArticles.com/?expert=Marq_Samsun

With the Federal Reserve lowering interest rates at the end of 2008, 2009 will be a tough year on people looking to save money. When the Federal Reserve Bank lowers interest rates, it is great for people looking to borrow money. However, these lower rates also translate into lower interest rates for savings account, checking accounts and certificates of deposits.

These lower interest rates are going to make it very difficult for people looking to earn the most interest on their savings. Recently, online banks with high yield savings accounts like ING Direct and Emigrant Direct Bank have already lowered their interest rates. Banks and credit unions around the country have been lower their savings account rates as they can borrow money from the Federal Reserve or other banks for lower interest than they had to pay earlier in 2008.

Lower interest rates are not limited to savings accounts. We are seeing banks lowering their CD rates too.

These lower bank rates are going to make it very difficult for savers to earn money on their savings in 2009. In order for you to earn the most money you can on your savings.

These lower bank interest rates come at a bad time for individuals. Many people are moving money out of the stock market into bank accounts due to the market volatility. Additionally, as unemployment rises and more and more people are being layed off work, people need to save emergency funds more than ever. Typically, people save their emergency funds in high yield savings accounts and certificates of deposits.

You will have to do your research in 2009 to find the best bank interest rates for your savings.

If you would like to always know the best bank rates, you will like reading the Online Banks Blog.

Article Source: http://EzineArticles.com/?expert=Fred_Peters

Among the chaotic people personal finance keeps an important figure. It is the need to meet ends that leads you to loan provisioning. An entity whose income is less than its expenditure raises capital by borrowing or financing. If you are such a potential borrower, a financial intermediary such as traditional bank, credit union, building society, and even high street lenders can work for you.

You apply for personal finance in a tough spot when caught between sharply slowing growth in a rising inflation. To soothe your grueling situation, personal finance comes in secured as well as unsecured forms. Secured loans are collateral-backed money provisions. With that you are able to get fund depends on the equity value of your asset. For that reason only, amount of the finance varies dramatically. However, there will be no problem at all receiving funds in between £3,000 to £75,000 over a period of 25 years. Whereas, if you are a tenant and unable to manage collateral, unsecured loans can do a great work for you. Fund is released simply after checking your repayment capacity. In due course, lenders do not bother taking much headache evaluating your property. As a result of that you will able to secure fund in no time. You obtain funds up to £25,000 instant for 10 years without much hassle.

Even, rate of interest for personal finance depends upon various factors. These factors are mode of loan option, your employment status, bank statement, etc. so, you do not worry much about costly funding.

Above all, for personal finance, lending tempers flared with the surging numbers of numerous lenders for the same personal finance. You can find these lending options even online. Online is a simple and convenient way of loan obtaining. It saves your time and energy. By comparing different options, you can cull out the best possible one easily.

George Bell has been associated with Finance Personal. Having completed his Masters in Finance from Lancaster University Management School, To find Personal Finance, personal loan, personal cash loan, finance personal visit http://www.finance-personal.net/

Article Source: http://EzineArticles.com/?expert=George_Bell

Rising food and fuel prices are putting financial pressure on American families all across the country. Many consumers need to consider alternative methods for saving, just to scrape by. Everyday consumers hear more and more about global warming and the need to reduce their carbon footprint. For consumers already struggling to make payments, buying a new super fuel-efficient vehicle is out of the question. But what if consumers could eliminate the need to rely on fuel altogether? Here are some advantages to using alternative forms of transportation:

Saving Money
Taking public transportation can eliminate car expenses including: gas, maintenance, insurance, parking, and car payments. For every dollar earned, the average household spends 18 cents on transportation. The average family could save more than $6,000 annually by taking public transit. According to the American Automobile Association, the total annual cost of driving a mid-sized sedan 15,000 miles (just above the U.S. average) is nearly $8,000.

Saving Time & Energy
According to the Texas Transportation Institute, the average American will spend 38 hours per year in traffic, that's almost a full work week! This translates to 26 extra gallons of gas and $710 per person. Each year, public transportation use in the U.S. saves 1.4 billion gallons of gasoline. This represents almost 4 million gallons of gasoline per day. Public Transportation also allows passengers to relax, or do something productive with the time that would normally be wasted during their commute.

Stay Fit & Avoid the Rush
For people who live close enough to their work place, there is always the option of riding a bike or walking. This eliminates the reliance on fuel, the hassle of the pesky morning and evening rush, and allows for a great way to stay fit. Commuters who opt out of the daily drive will be doing their full part to reduce carbon emissions, no matter what form of alternative transportation they use.

ABOUT ACCC: American Consumer Credit Counseling (ACCC) is a non-profit 501 (c) (3) organization dedicated to empowering consumers to regain control of their lives through education, counseling and debt management. ACCC provides individuals with practical solutions for solving financial problems and recognizes that consumers' financial difficulties are often not the result of poor spending habits, but more frequently from extenuating circumstances beyond their control. As one of the nation's leading providers of financial education and credit counseling services, ACCC works with consumers to help them with the best plan of action to reduce their debt and regain financial stability. For more information or to access free financial education resources log on to http://www.consumercredit.com

Article Source: http://EzineArticles.com/?expert=Katie_Ross

Sometimes the hardest part of collecting a debt is finding the person who owes you the dough.

If you don't know where this person is, you can easily do a search. You can search by name, social security number or telephone number.

The initial cost for the basic search is free. More involved searches may cost a few bucks but don't you agree that it's worth it? After you locate the person, you can file actions no matter where you live.

Wouldn't you like to see the look on their face when they get the court appearance letter? They will wonder how in the heck you found them.

If you know where the person is, half of the battle is done. Check with your local courts but a very easy way to get a judgment against someone is through the Small Claims Court. They do have limits on the amount owed but it is very simple and you can add the costs of the action to the judgment. When and if you win, the loser needs to pay or you can ask the Court to sell valuables they own to pay the judgment. The Court will have the Sheriff tag items with an official seal preventing the items from being used until they are sold. When the Court starts this process, the loser usually pays up.

In Small Claims Court you have to be represented by an attorney if you are a corporation. If you are not, you can represent yourself.

If the amount is too high for Small Claims Court, then you will have to seek a remedy in the Court of the Common Pleas. This is a little different matter and more difficult and the Court isn't as helpful as in Small Claims. Seek advice from a local attorney.

The easiest people search engine to use is http://www.FreeSearchNow.info Go to the site, enter the information and the results will show in a matter of moments. Free Search Now can also connect you with more involved searches if needed. They are not expensive and well worth the time and expense. And, all costs associated with collecting the debt owed can be included in the judgment.

You should book mark the site so you have it handy to use over and over. Have you ever wondered what happened to an old boyfriend or girlfriend? Free Search Now will track them down for you.

Have you ever thought about saying thanks to someone who helped you once and you don't know where they are. Put http://www.FreeSearchNow.info on the trail and let them do the tracking for you.

Article Source: http://EzineArticles.com/?expert=Victor_Lewis

Banking services in India have undergone a remarkable change from the time when India got the independence on 15th august, 1947. Otherwise earlier the only mode of banking which was known to the common people of the country was the indigenous bankers like the private money lenders. But the services offered by these lenders used to be exploitative and also very fraudulent. This is the very basic reason why loan lending authorities failed to make a mark for themselves until the economic reformation in the early years of the decade 1990's occurred. That economic reformation also brought a revolution in the field of banking services in India.

This led to a global change in the entire concept of banking. The introduction of modern technology such as the use of computers significantly contributed to the welfare of banking services which ultimately gave birth to Online banking services.

Online banking services mark the phase where an almost new type of banking of started. But one more reason that contributed immensely to this concept was the entry of foreign players into the market of banking. These new entrants were the result of the liberalised policies that the government adopted. Since India was a potentially rich place for every type of business. Hence, there was flood of many new entrants. These new players proved to be fruitful for the entire Indian economy. It is because these new banks began to pose a serious threat to the already established nationalised banks. This ultimately resulted in the overall development of banking services in India. The concept of Online banking services is the result of this radical change.

Providing Online banking service has become an integral part of today's banking module. It is significantly important for the modern banking companies since as the rates of property are touching sky and also it is not possible to setup an entire branch at every place. Also it may lead to incurrence of extra costs. This type of Online banking service allows the bank to reach to the place where the concerned person is at ease. It also saves the users to stand and save their time by standing in long queue's and in meanwhile wasting precious time. Also today many Online banking services also provides the users to get the knowledge related to any kind of loan or share market aspect just at the click of button. User can also check their balance, withdraw money, transfer funds and perform all other functions just like a normal person in bank can do.

Another main feature that has today caught the eye of every person is the fixed deposit. Today almost every bank is offering rate of interest above 9% in fixed deposit. The advantage of this high rate of interest is not limited to a certain age group but it is open to a person belonging to any age group. The high rate of interest in the fixed deposit is the result of high intensity competition. This is why today every bank is trying to offer higher rate of interest than the other. While for the senior citizen, it is quite max in profits, for other age groups it is only marginally less than that of the senior citizens. One unique thing about these fixed deposits is that they are only for a short period of time. They are generally for a period of one year or one and half. This short period is the prime reason why now and more and more people are now going for it without hesitating.

About The Author: For more information about about online baking services in India and fixed deposit interest rate. Please visit our website: http://www.paisawaisa.com

Article Source: http://EzineArticles.com/?expert=Addi_Vardhaman

Well you may be surprised, but yes there is.

So what is that secret, some would argue that in most cases all you do is need to look at the parents to figure this one out as they are a guide of future wealth. But rest assured that is not it. The secret to wealth is:

"It's not difficult to obtain financial success and build your wealth."

This secret according to Brian Tracy in his audio CD book The 21 Absolutely Unbreakable Laws of Money teach you how to become a master of your own money and gives you the laws behind building your own financial wealth. Brian passes on the result of his studies and shows you the 21 absolutely unbreakable laws of money, you will learn how to:

* Become a money magnet

* Increase your income immediately

* Learn the secrets of wealth building

* Build a financial fortress.

If you want to become the a member of the magic 1% then this is not something you will miss out one. Brian as usual has done a great job and explains the unbreakable laws of money is such away that you will learn how to attain wealth. Without the mind numbing theory, you will actually learn about 'Cause and Effect', the 'Law of Savings' and the all important but often forgotten compound interest concepts.

As it is frequently said, and supported by the Smart Millionaires Guide, you need to understand money before you earn it. If you are going to purchase a material today and begin you journey to wealth.

An honest review of Jean Chatzky's Pay It Down: From Debt to Wealth on $10 a Day

Many of us that are deep in debt choose to take the road less traveled when it comes to getting out of our credit card debts. You could just go to a debt management service or get a consolidation loan, but is that really the best way? A good debt management service can be hard to come by and they will charge you a fee when you start and monthly frees until you are done. After talking to one of these services a while back, it became clear to me that there must be a better way. So I made a special trip to my favorite online book store in search of a debt guru to help me find that better way.

Pay It Down: From Debt to Wealth on $10 a Day

I am over my head in debt right now, so the title looked promising, and who doesn't want to be wealthy. This book is not new, and with the recent changes in the way credit card companies are handling their card holders, it is a bit out dated. The main structure of Pay It Down is a nine step plan. The first steps start you off figuring out why you are in debt and exactly where you are spending your money. It is important to live below your means to get and stay out of debt. Then there is a step involving credit scores, which you will likely find in most personal finance type books. The next steps outline ways that you can free up that $10 a day to apply to your credit card debt.

You will find some good sound advice in this book for changing the way you spend and save your money. The Author is very practical in her approach to getting out of debt, and if you use her methods you can do this your self without paying fees to a debt elimination service.

In the book The Next Millionaires by Paul Pilzer, the idea is put forth that our personal financial success is not only based on what resources we have available to us, but also what tools we use.

The Next Millionaires is a great book on the new economics that will shape our current and future generations and it challenges many old economic principles. One of the great gems found inside is an equation that Paul discovered.

W = P * T

Wealth = Personal resources * Technology

This theory suggests that our wealth (as a society) is determined not only by the resources we have, but those resources times the technology that we have. This is a very interesting way of looking at things. The example is given of the oil/gas crisis of the 1970s in America. There was a projected shortage of gas and so, it was even rationed at the time. Then, average gas mileage was about 9 miles/gallon from a $300 mechanical carburetor. Newer technology in the next decade brought the computerized electronic fuel injector at a cost of $25 and yielding mileage of 22 miles/gallon. The amount of gas (the resource) remained about the same (actually it went down slightly as usage continued) but the technology effectively doubled the supply.

Thus, the overall wealth was increased by the technology. Considering the resource on its own is not an effective way to measure its use. Technology truly does have a great impact.

Similarly with personal finances, we typically have a relatively fixed set of resources. In most cases it is not easy or possible to simply increase our income, assets, etc. However, the technology we use to manage these resources can make a huge difference. Those who use tools to manage their money typically understand their income flow and spending habits better and can make better and more informed decisions about saving and spending, resulting in an increase in wealth.

There are many different types and forms of tools to help, from old-school pencil and paper, electronic spreadsheets, to sophisticated computer programs and online tools that can track every penny and tell you exactly where you are and where you will be if you maintain similar behavior.

Whatever tool you choose is better than nothing. But keep in mind the formula - the better your technology, the more wealth you'll have as you manage your resources more effectively!

By JIM NOLAN

TIMES-DISPATCH STAFF WRITER

Virginia Gov. Timothy M. Kaine has issued a sweeping series of spending cutbacks in state government in anticipation of budget shortfalls.

Kaine has imposed a hiring freeze on all state agencies except for those jobs pertaining to public safety, health, natural resources and higher education.

Kaine imposed a similar hiring freeze in early 2007, at the first hint of a slowing economy and reduced state revenues. Both hiring freezes restrict the hiring of new employees without approval of the supervising cabinet secretary.

The edicts came in a memo dated yesterday and sent to the heads of state agencies by Kaine Chief of Staff Wayne M. Turnage.

It also warns of possible layoffs.

"I also ask you to critically assess the need for current wage employees to ensure that their continued employment is mission critical," it states.

Kaine is also directing state agencies not to enter into, or renew, consulting contracts unless they are "absolutely essential and critical to delivering services" that can't be performed by the existing workforce.

All discretionary travel and training has been frozen unless it is designated for "mission-critical services."

In addition, discretionary equipment purchases have been suspended.

The memo comes in response to a preliminary report on state revenues prepared by Secretary of Finance Jody M. Wagner.

Wagner's report states that the slowing economy over the last six months mean the state will have to make "significant downard adjustments" in the revenue forecast it used to prepare the state's $77 billion, biennial 2009-2010 budget.

"As he has in the past, the governor is directing each of you to immediately take steps to reduce discretionary spending," states Turnage's memo, a copy of which was obtained by the Richmond Times-Dispatch.

"This will undoubtedly result in some short-term difficulties for your agency, but given the nature of our fiscal situation, it is critically important that we implement strategies that hold the promise of long-term savings."

Virginia ended fiscal year 2008 on June 30 with a tiny budget surplus. A memo today from Wagner to Kaine warns that "significant downward adjustments to the revenue forecast for the current biennial budget cycle that started July 1, 2008, are to be expected during the fall revenue forecasting process.

"Declining employment levels, slower income growth, lower consumer confidence, and the continued downward trends in the housing market" drove the revenue shortfalls, Wagner said.

Wagner's memo further states that state agencies should expect "further budget adjustments" to compensate for the expected reduction in general fund revenue.

On Aug. 18, Kaine is scheduled to address the joint meeting of the House Appropriations Committee, the House Finance Committee and the Senate Finance Committee to review the final results of 2008 year revenues and address anticipated shortfalls in the coming two-year budget.

Wagner said preliminary data suggest the state ended fiscal year 2008 with a small budget surplus of $5.4 million. But the downward economic trends point to the need for action.

CHENNAI: Even as interest rates are inching up and inflation soaring, the LIC Housing Finance Company is confident of growing ahead of the industry's average growth rate, a top company official here said.


Interacting with the media here after inaugurating a housing exhibition Friday, R.R. Nair, CEO LIC Housing, said: "This year, too, we are seeing better growth. Last year, we grew 38 percent when the whole industry logged just 9 percent growth."

For the current fiscal, LIC Housing is targeting disbursement of Rs.100 billion - up by Rs.10 billion over the previous fiscal.

According to Nair, the company's lending rates are linked to the prime lending rate (PLR) of banks.

"We have increased our lending rate just by 50 basis points in the recent times," he added.

Nair does not foresee higher defaults owing to increasing interest rates.

He said the housing market is currently active with serious buyers with speculators receding for now.
According to another official, the demand for premium-end apartments is slowing down while the mid-segment apartments continue to move.

Looking at the project financing, he said the company's project funding is just 5 per cent of its overall book size.
Last year, the company funded projects to the tune of Rs.13 billion.

LIC Housing Finance Ltd (HFL), country's second largest housing finance company, is planning to float a new subsidiary company to sell all the financial products. The new company called LICHFL Financial Services Ltd, is expected to commence its operations in the next two to three months.
Speaking to reporters after inaugurating LIC Housing Finance's 11th property exhibition "Ungal Illam" at Chennai R R Nair, director and chief executive, LICHFL said that the new company will be a 100 per cent subsidiary of LICHFL. He added, it will not not be a capital-intensive.


LICHFL Financial Services will sell financial products including home loans, mutual funds, LIC's insurance policies, credit cards and other third party products. It will distribute only LICHFL's home loans.


The new company will be based in Mumbai and Shobhana Murali who was heading LIC's corporate communication will head the new company. During the current year, it will start with 10 branches in metros and important cities and in the next two years will expand it to 65 places.


LICHFL registered a 38 per cent growth in loan disbursements in 2007-08 at Rs 7,071 crore, higher than the industry's average growth of 8-9 per cent. Total sanction was Rs 9,000 crore. Target for the 2008-09 is Rs 10,000 crore disbursement and Rs 12,000 crore sanction, said Nair.