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Financial Advisor Can Help

2010-12-22T06:24:00.000-08:00

Many people turn to the internet in their quest to better their financial situations. And, much of the time, that search brings them to financial advisors. But what does it all mean? Registered financial planners, fee based financial planners, chartered financial planners, retirement planners...how do you know what's right, or if any of it is? They are basically wealth managers: they help you to maximize your stock portfolio and help you make decisions about insurance, mortgages and retirement nest eggs.

You can find an advisor in your neighborhood, or find one that works with you online. When looking for a financial advisor, remember how important the relationship will become; be sure that there is comfort and trust between the two of you (and your partner, if you have one). With the right fit, you can have the same partnership your whole life. In an ideal situation, your advisor will be with you every step of the way to make financial decisions to keep your income safe by maintaining a balance of gain through calculated risk.

Once you've chosen a financial advisor, the sky is the limit. Learn the ins and outs of the S&P 500, set up 10 year bonds, start a college savings plan for your children and do retirement planning for yourself.

Once you've found THE advisor, the one that has the accreditation you seek and the communication style you prefer, you have to consider payment. Some are fee based financial advisors, where others are fee only advisors. The difference is commission; none is collected by a fee only financial planner.

Looking for a financial advisor in your area? Look no further, we have just who you are looking for.

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

Exercise Financial Discipline

2010-12-22T06:23:00.001-08:00

As America slowly comes out of her financial crisis, we are all beginning to spend more - buying gifts and necessities, as well as some frivolous objects. And while it's nice to be buying what you want, when you want it again, we all need to keep in mind that the economy is fragile. After all, it was over-spending that got us in this mess in the first place.

So how do we re-enter the buying market without frivolous spending? You need to be acutely aware of where your money goes, particularly in this season of spending. Even without the aid of a financial planner you can make the most of your hard-earned money with these tips.

Be sure to keep track of where your money goes. As dieters cling to their Weight Watchers point booklets, diligently recording each m&m they consumed at the work party, you, too should keep a notebook. Write down each purchase, from latte to love seat, to know what you spend each day. You may find wasteful spending after only a few days. Perhaps that $1 a day on the newspaper could be better spent in penny stocks, and you can read the online version of the news. Or you could cut out your morning coffee by making it at home, putting those daily $2 towards college finances.

A financial advisor can help you sort out the larger picture of your personal finances, but for day to day financial discipline consider yourself to be your own wealth advisor. A dollar a day may seem like nothing, but it adds up quickly, and if you put it into an interest-bearing account, those dollars turn into even more.

If you do decide that a financial advisor is right for you, we can help you find one in your area today!

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Smart Spending - Save Big on Major Purchases

2010-05-22T07:15:00.002-07:00

If you live by a few common sense rules, you can save yourself some headaches down the road when it comes to money. Smart spending will let you live within your means. Living out of your means has gotten a lot of people in money trouble. Let's look at a few ways were you can save a lot of money.

One of the biggest purchases that you will ever make is your home. A good rule of thumb is that you do not want to spend more than 28 to 32 percent of your gross income on a house payment per month. This also includes what the taxes and insurance will coast too.

I have a friend that installed yard fencing. A lot of times when they would go put up a fence in one of those Two hundred grand home allotments; there were a lot of homes that only had plastic furniture in them. I can guess that this was because they had such a large house payment that they could not go out and buy regular furniture. I have not hard that plastic furniture is in fashion either. But that is just a guess!

The second biggest purchase that you will make could be a vehicle. By no means go out and buy one brand new. The first year that you own a new car is when it takes the biggest depreciation. And that can be around one third of the total depreciation loss for someone buying a new vehicle every two years.

If you go out and find a good used two-year-old car, you are going to save a ton of money. Providing that you drive it for 5 to 8 years. The longer that you have it, the less the average cost per annum will be.

There are a lot of turned in vehicles that had a 2-year leas on them. When a car is leased, the person that took out the leas has to take very good care of the vehicle. If they do not, when it comes time to turn it in, they will get hit up with a lot of normal than use wear charges. This insures the mass majority of leas vehicles are taken care of.

Here are just two ways to help keep you from spending too much of your money. If you practice smart spending, you will be well on your way of having a good full life with a comfortable retirement.

D Fisher likes to write about saving money and home budgeting. Go check out his web sit at http://www.budgetingtools101.com on how to make a personal budget planner.

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Do Not Mix Your Emotions With Your Financial Planning

2010-05-22T07:15:00.001-07:00

The personal financing is more complex compared to what it needs to be. But the importance of finance management can't be neglected. Building wealth and savings need not be very stressful if you can make a good planning of your financial future. To accomplish this you only need to follow the few basic rules.

The first rule of finance planning is to remove all your emotions from your planning. You can't afford to make plans that are more emotion driven that practical. If you are filled with anxiety about your debt or confused about the number of obligations you have, or if your credit card debt is worrying you will not find it very easy to device a good finance budgeting plan. If you are one such person who is completely worried, you better take the help of any of the online services offered free of cost.

They will be able to make a plan for you that is completely unique and depends on your income and expenditure. This is far better than a dream that you make up yourself (I will not call that a plan) that is aimed at finishing all your debts in a few months and ends up in nothing, but a bigger mess. A realistic plan that is able to clear all your debts in a few years is far better. So keep in mind that once you are not able to make up a good financial plan yourself get the help of your financial adviser. If you can do it yourself, it is the best. But remember not to mix emotions with your plan.

Are you in debt and is looking for some good help to get you out of it? If you are searching for personal finance help, or manage money software or personal finance tools please visit the url: http://budgetingyourmoney.org/

You will find all the help you need.

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The Importance of Financial Planning When Income is Limited

2010-05-22T07:13:00.000-07:00

Those who are have a healthy income stream can afford to lose a percentage of their income and live comfortably still. Folks who have a limited income cannot afford to lose what they have. When you have limited resources, what you do with them is even more critical. Financial planning helps persons to structure their financial resources so that they get the most out of a limited income.

Financial planning helps people preserve and stretch the dollars that they earn and save. It does this by:

i) Protecting your savings and income

ii) Ensuring that the value of your savings is maintained

iii) Structuring and allocating your savings and income

iv) Allowing persons to set financial goals

The base of financial planning is protection of your assets and income. No matter what your income level is, you need to have a way to protect your assets; financial and otherwise. When you have limited income it is even more important to protect both your assets and your income. Those with lower earning power would simply take a much longer time to recover from debilitating illnesses, income loss or asset loss.

If you have a small workforce, you need to ensure that they are very productive. In a similar way, if your income is limited you must ensure that it's working optimally for you. It is even more important for lower income groups to try to achieve some growth on limited capital, since that growth is not going to arise primarily from additions. Portfolio diversification in financial planning is the method for ensuring that your income works best for you.

Imagine that you are on a deserted island, surviving on rations. You would surely have to think about how you're allocating your rations a lot more. Financial planning ensures that we think about and structure the distribution of our income and minimise our expenses. Budgeting is the primary means within the body of financial planning that facilitates this. It prevents wastage and ensures that we do what is necessary meet our stated goals.

The goal setting that is encouraged by financial planning helps us to maintain a long-term approach to our income and assets. With a limited income, it is easy to be swayed by living expenses and debt or to give up hope that you can accumulate a decent volume of wealth. Financial planning encourages financial goal-setting. It guarantees that even those with limited income can feel the power of financial goals and remain disciplined in pursuing them.

Sometimes, it may not be that your income is inherently limited, but that your debt servicing and living expenses seem to consume it. That is no reason to throw your hands up in despair. It is in situations of scarcity that planning and systematic approaches are most useful. With your finances, it is no different. Financial planning ensures that you take your limited (or abundant) financial resources and make the most out of it.

And now, you can read more articles from this author at http://www.helium.com/user/show_articles/338815

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Easy Credit, Hot Stove, Silver Lining

2009-06-10T03:12:00.003-07:00

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.

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Are You Ready For Life After?

2009-06-10T03:12:00.001-07:00

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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Would You Like to Receive Extra Money From the Government? It's Free Money, Just Apply!

2009-05-27T23:33:00.001-07:00

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.

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Unclaimed Government Money - Free Money

2009-01-03T21:18:00.000-08:00

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

Personal Finance - An Important Financial Figure

2008-09-02T04:22:00.000-07:00

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/

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Cut Your Carbon Footprint & Save Cash at the Same Time

2008-08-25T22:06:00.002-07:00

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

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Internet Search Can Help You Find People Who Owe You Money

2008-08-25T22:06:00.001-07:00

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

Now Enjoy the Benefits of Online Banking Services

2008-08-25T22:06:00.000-07:00

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

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Are You in the 1% of Americans Who Are Millionaires

2008-08-04T22:45:00.002-07:00

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.

Credit Card Debt Relief - Pay it Down

2008-08-04T22:45:00.001-07:00

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.

Can Your Budgeting Tool and Technique Affect Your Wealth?

2008-08-04T22:45:00.000-07:00

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!

Kaine issues hiring freeze, warns of layoffs

2008-07-20T23:02:00.002-07:00

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.

LIC Housing Finance sees good business despite inflation

2008-07-20T23:02:00.001-07:00

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 to float a new financial co

2008-07-20T23:02:00.000-07:00

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.

Digital Asset Management Is On The Rise

2008-05-31T02:16:00.001-07:00

These days, when people talk about business assets, in many cases they are talking about much more than the physical or tangible assets that have long been the primary measuring stick of a businesses value. More and more often, businesses, especially those that engage in ecommerce, have significant "digital assets" that have a great deal of bearing on their bottom line. As a result, effective digital asset management is becoming increasingly important.

Digital asset management is reaching a point of what some experts call "critical mass" and a potentially volatile time in the brief existence and history of managing digital assets. It is precisely because it is such a new area of business and expertise that it can be difficult to manage at times. One of the reasons for this is that as digital, current assets have become increasingly important to businesses, the solutions for asset managers to use to effectively manage these unique assets have not been at all standardized.

Due to this factor of not yet having standardization in place, digital asset management, while increasingly important, is still "technically" in its infancy. Industry insiders expect that consolidation of both technology solution tools and management tools will result in the smaller, and often more innovative players either joining forces with larger competitors or simply being driven out of business.

The current definition of a good, digital asset management system includes a combination of software and hardware technology solution tools for businesses of all sizes and also includes the work flows that make use of those digital assets. This includes the complete array of digital files, digital storage devices and digital communication pathways that allow for the use, sharing, integration and flow of the information.

Digital asset management is also a category of specialized software that has seen explosive growth in recent years, most particularly as the popularity of digital multimedia has flourished. Without a doubt, most every type of organization today has a great deal of time, cash flows and resources invested in the work that has been produced in some type of digital format and which have added significant dividends to the organization.

At the core of asset management software for digital assets is the establishment of a secure, electronic "clearinghouse" for the storage, daily use, archiving, and distribution of the digital data assets. This "clearinghouse" is essentially a powerful database structure which is carefully constructed around a company's file organization scheme, naming conventions, and daily work flow patterns. Such digital management software is also often referred to as media asset management (MAM), content management, and digital asset warehousing.

In the near future, digital asset management is expected to become a multi-billion dollar industry as increasing numbers of companies, organizations and even individuals continue to migrate from traditional formats of all kinds of information and media to digital formats. This creates unique opportunities for investors and developers, and also for individuals who hone their skills in this important area, which will only continue to expand.

It should be noted that digital asset management is not only related to making sure that equipment, software and work flows are accounted for and in place. Just as important, and sometimes more so, is having well-qualified people to not only produce high-quality digital assets but also to know how to properly manage those electronic assets.

Recent Developments In The Forex Market

2008-05-31T02:15:00.002-07:00

In a world of national currencies, the forex (foreign exchange) market provides the mechanism for making payments across borders, transferring money (and thus purchasing power) from one currency to another and of course determining exchange rates.

The forex market has seen profound changes since the early 1970s, not only in its size but also in the way in which it operates, as a result of structural shifts in the world economy and in the international financial system. Some of the main changes which have occurred in the world's financial environment include:

1. A fundamental change in the international monetary system from the fixed exchange rates arising out of the Bretton Woods agreement to a much more flexible system in which countries can float their exchange rates or follow other exchange rate practices of their own choosing.

2. Major financial deregulation across the globe including the elimination of government controls and restrictions in almost every country, which has resulted in far greater freedom in national and international financial transactions and hugely increased competition among financial institutions.

3. A fundamental change in savings and investment, with funds managers and investment institutions around the world diversifying their investments across international borders and into multiple currencies.

4. Major changes in, and liberalization of, international trade as a result of a series of trade agreements including the Tokyo and the Uruguay Rounds of the General Agreement on Tariffs and Trade, the North American Free Trade Agreement, and US bilateral trade initiatives with the European Union, China and Japan.

5. Technological advances which have made it possible to achieve the real-time transmission of huge amounts of market information worldwide and to analyze that information rapidly so that market opportunities can be identified and exploited. In addition, financial transactions can now be executed quickly and safely, with a level of efficiency which allows costs to be kept at level well below those which were possible previously.

6. New thinking in terms of both the theory and practice of finance which have resulted in the development of many new financial instruments and derivative products. Advances in thinking have also served to change our understanding of the international financial system and the techniques we need to use to operate within it.

As markets have grown and developed since the 1970s in a climate of much greater freedom and competition, the role of the markets themselves has changed and we have developed the tools and techniques to allow us to exploit these growing markets to the full. One major beneficiary of these changes has been the forex trader who has an investment vehicle available today which was undreamt of a few years ago and which will continue to provide the small investor with an excellent trading opportunity for many years to come.

What Is Meant By Forex Or Foreign Exchange?

2008-05-31T02:15:00.001-07:00

Most countries have their own national currency such as the US dollar, the UK pound, the Japanese yen and the Thailand baht and these are of course necessary for making payments for goods and services within each country's borders. However, in a world where we are traveling more and more and where countries are increasingly trading with one another, foreign currency is required to pay for cross-border sales of goods and services. This means that there must be some mechanism in place to provide access to foreign currencies, so that payments can be made in a form that is acceptable to the seller, and thus the need for a foreign exchange market (or forex market which is simply short for FOReign EXchange).

In its simplest form foreign exchange refers to money which is denominated in a currency other than your own. For example, if an individual exchanges his own currency for the currency of another nation then he acquires foreign exchange. Of course we often think of foreign exchange in terms of tourism and most of us will have traveled abroad either on holiday or for business and exchanged currency on arrival at our destination to pay hotel and restaurant bills and for taxis, sightseeing and shopping. However, foreign exchange is not simply limited to the relatively small sums of money handled by tourists, but applies equally to larger transactions such as the exchange of hundreds of millions of US dollars when a US company buys another company which is based overseas.

Broadly speaking, in the US any money which is denominated in the currency of another nation would be termed as foreign exchange and it is important to remember that we are not necessarily talking here about cash. Foreign exchange can also consist of money which is available through a line of credit (such as a credit card) or that is held in the form of traveler's checks. In other words, we still talk about foreign exchange for any negotiable instrument which is denominated in a currency other than the US dollar.

When we talk however about the foreign exchange market we are not really concerned with the exchange of small sums of currency by tourists, but are looking at foreign currency which is exchanged between an international network of foreign exchange dealers and is normally exchanged in what most of us would see as being very large sums of money. For example, one of main players in foreign currency trading is the major banks and here a US bank might need Japanese yen and thus deposit several million US dollars with a Japanese bank in exchange for Japanese yen.

Today an increasing number of small investors are able to participate in the foreign exchange markets and benefit from the profits to be made as the prices of national currencies rise and fall against one another. In general however the private forex trader does not himself trade in large sums of money but is able to trade by working through brokers who are themselves major players in the market.

The Complex Nature Of Exchange Rates In Forex Trading

2008-05-31T02:14:00.001-07:00

An exchange rate is simply a score for one currency against another and represents the number of units of one currency that need to be exchanged for a single unit of another currency. The exchange rate is thus the price of one currency against another and, given the number of world currencies today, within the US alone there are literally dozens of exchange rates. Now that seems simple enough but, unfortunately, it is not quite that easy.

Quite apart from these simple exchange rates, which are sometimes referred to as 'spot' rates, there are also a whole range of 'trade weighted' or 'effective' rates which show the movement of one currency against an average of several other currencies. There are also exchange rates which are used in markets such as the forwards markets in which delivery dates are set at some point in the future, rather than at the time of the initial transaction. In other words, there is no such thing as an exchange rate, but are in fact a series of different exchange rates depending upon the nature of the transaction.

The foreign exchange market is driven largely by supply and demand and the exchange rate between any two currencies at any moment in time is influenced substantially by the interaction of the various players in the market. In a few cases currencies are still fixed, or the exchange rate is set by the monetary authorities, and when this is the case the country's central bank will normally intervene if required and either buy or sell the currency to keep its exchange rate within a narrow and defined band. In the vast majority of cases however, and certainly in the case of the US, currencies are allowed to float and central banks do not normally, and certainly not routinely, intervene to support their currency. Accordingly, the exchange rate for a particular currency against other currencies is determined by players, large and small, who are buying and selling the currency at any particular moment in time.

The mix of participants in the market is important and will affect different currencies to varying degrees. Some buyers and sellers deal in the market purely in support of international trade and are operating in the 'goods' market buying and selling currency to pay for merchandise being traded across national borders. Other dealers are buying and selling currencies in support of 'portfolio investment' and are trading in bonds, stocks and other financial instruments across national borders. Yet another group of currency traders are operating in the 'money' market and are trading short term debt across international borders.

As if this were not complicated enough, this mix of traders whether they are paying for imports, investing, speculating, hedging, arbitraging or simply seeking to influence exchange rates are also focusing their attention of a variety of different timeframes in their trading which will range from a matter of minutes to several years.

Against this background it is no wonder than predicting exchange rates is a complex business. Doing so however is vitally important since exchange rates influence the behavior of all of the participants in the market and, in today's open market, also influence interest rates, consumer prices, economic growth, investment decision and so much else. It is for this reason that the forex market plays such a critical role in determining exchange rates.

The Importance Of Payment And Settlement Systems In The Forex Market

2008-05-31T02:13:00.000-07:00

Every forex (foreign exchange) transaction involved the transfer of funds between two nations and that means that it also involves the payment and settlement systems of the two countries concerned in the transaction. For this reason national payment and settlement systems play a key role in the day to day operations of the forex market.

Today there are a wide variety of payment systems which are legally acceptable within the United States and payments can be made for example in cash, by check, using an automated clearing house or using an electronic funds transfer.

In terms of the sheer number of transactions the vast majority of payments in the United States today are made in cash or by check, however, in terms of value, the greatest amount of money is paid by electronic funds transfer. For this reason the electronic funds transfer system is a key component of the Unites States payment and settlement system and it is this system which is used to make inter-bank transfers between dealers in the forex market.

There are two main electronic funds transfer systems operating in the United States today. The first is the Clearing House Inter-bank Payments System (CHIPS) which is a private system operated by the New York Clearing House and the second is a system operated by the Federal Reserve Bank and known as Fedwire.

Using Fedwire a regional Federal Reserve Bank debits the account of the sending bank and credits the account of the receiving bank so that the transfer is effectively immediate and this is often referred to as a RTGS (real time gross settlement) system. By contrast individual transactions are not settled during the course of the trading day using CHIPS but are settled at the close of each day's business as a net settlement for each individual CHIPS account holder. Final settlement of CHIPS obligations is made using Fedwire.

Other countries operate systems similar to those in the United States. In the United Kingdom for example settlement is made through the Clearing House Association Payments System (CHAPS) with settlement being made through the Bank of England, while in the European Community a system linking the banks of member states and known as Target is used to settle transactions involving the Euro.

The United States settlement system is particularly important in the world of forex trading because the majority of global foreign exchange transactions involve the US dollar with daily settlements running into trillions of dollars. Indeed, the bulk of the transactions processed through CHIPS every day are foreign exchange transaction settlements.

Although modern technology has done much to transform foreign exchange trading one element which still concerns many people is that of 'settlement risk'. In other words, the risk that you will pay out the currency you are selling but not receive the currency you are buying. Considerable efforts have been made in recent years to reduce settlement risk in the foreign exchange markets and today the vast majority of forex traders would consider this risk to be minimal.

Tips for Using Online Bill Pay

2008-03-11T22:31:00.000-07:00

You probably know someone like me. I'm the kind of person and constantly in need of reminders to do the simplest things. I'm talking about things like sending out the monthly payments for my credit cards, electricity, cable, water, rent, and car loan or I will more or less forget all about the darn things.

I've experimented with numerous approaches to overcome this problem, including such things as posting reminders of my pending bills on my refrigerator so I'll see them each and every day, using a PDA to monitor when the bills are due, and picking out in advance a particular, predetermined day each month to sit down and take care of all my financial matters. But you know what, none of my little methods worked, and it was a problem because I was constantly being bombarded with late fees and and nasty letters from creditors had threatened cancellations. Then a friend told me about an online bill pay service. Since I signed up for it, I haven't been late with a single payment. Not even once. In this day and age many creditors including credit card companies, banks, and other service providers like utilities, support online bill pay options. That means you will more than likely have the option to join an online bill pay program without regard to which companies you have to submit your bills to. This is a wonderful innovation in my estimation, especially if you have as much trouble keeping track of the everyday, mundaney things as I do.

Utilizing a third-party online bill pay program is a simple two-step process. First off, you have to do enroll for online bill pay with the individual companies that will be receiving recurring payment from you. It's impossible to do online bill pay without first completing this step, so it's absolutely critical that you do so as soon as possible.

The next step you have to take is register with a website that specializes in online bill pay programs. This is a completely different and today than the companies you owe your payments to. They simply act as middlemen facilitating payments to your creditors. It's not absolutely essential that you sign up with one of these companies, after all, you could still enter your own electronic payments each month, but how is that different from what your are currently doing and where is the convenience factor?

Put another way, you'd be right back to square one, no doubt missing payments again. Signing up with an online bill pay website, however, would relieve you of this burden. You simply set up regular payments of fixed amounts for things like your car loan and or mortgage or you can have reminders sent to three or e-mail service that will notify you when your payments are due. Once you get the e-mail, you can send your payment with just a couple of clicks of your mouse and be done with it.

The majority of online bill pay services do not make it mandatory that you link your user account with your bank account. That's important because you can keep complete control over the payments (by credit card, checking or savings account) and your private, financial information. The real advantage of it is that online bill pay services give you a convenient, secure method to take care of all your monthly obligations on time. And that's the whole point isn't it?

How Do I Obtain Capital To Invest In My Business Start Up

2008-03-02T21:07:00.000-08:00

You’ll almost certainly need to raise money to start up your company, unless you already have sufficient capital yourself. The typical costs of starting up are in obtaining premises, manufacturing your product if you have one, buying materials, stock or equipment, marketing and fees for external consultancy such as legal help, accountancy etc. Then when you’re off the ground, you’ll need working capital to keep you afloat in the gaps between paying your own invoices and receiving payment from customer invoices.

Again, your business plan is essential at this stage of setting up your business. In it you will already have scoped out what your money needs are and how you plan to raise the capital, and you’ll be using it to persuade potential investors and lenders of the benefits of funding your company. Your financial calculations in your business plan therefore need to be thorough and accurate and presented with confidence.

Everyone expects that they’ll be able to stick to their plans and only need to borrow the absolute minimum, but more often than not something unexpected crops up to throw a spanner in the works. It therefore makes good business sense to include a contingency element in the amount you request. It’s better to do that now and have the extra cash as a safeguard than it is to have to return to your lender or investor not far down the line to ask for more money. If it wasn’t in the original plan they are likely to be concerned about your financial ability and your request may be rejected.

How much money should you request? This question worries all start-up business owners. You want to make sure you have enough to keep you going without struggling, but how much will your investors or lenders be prepared to give? Most experts would advise that you should pitch somewhere in the middle – don’t leave yourself short by requesting the minimum, but at the same time don’t be greedy (and lazy) in asking for too much. You want to keep costs to a minimum and invest your money wisely in your company, while still having the security of a little extra for backup if required. What you borrow should give you a realistic challenge for your business but should not be too risky. And back up your calculation with evidence in your business plan – it has to be credible.

People raise money for their company in many different ways, not always from professional business investors or high street banks. How you raise your capital will depend on your business needs and your own circumstances. Here’s some information on various different sources of funding.

Your own money – if you have enough cash to spare, putting up your own money for the business means you don’t have to be in debt to anyone. It will also give you full freedom over the running of your company as you won’t be responsible to any other interested parties. On the other hand, you’re risking a lot personally by investing your own cash and you could lose it all – and not just your business, but perhaps also your home if you obtained the money by taking out a secured loan or increased your mortgage, for example. You should also be aware that personal borrowing rates often have much higher interest repayment rates than business deals.

People you know – if they have anything to spare, family and friends are often more willing to give you cash than external lenders or investors. Again, though, there is a high level of personal risk, both for your family or friends who could lose money, and for you – it can cause relationship tensions. If you do take money from family or friends, treat it as a formal business arrangement as you would with external funding and agree clear terms and conditions. You want to protect both your interests and ensure that there are no misunderstandings.

The bank – high street lenders usually have a variety of different packages and there’s usually something to meet everyone’s requirements. You’ll have to do a sales pitch to get your money though, and depending on financial circumstances you might also be required to find a guarantor or provide some sort of security. Don’t just go to your own bank – look around for a good deal and do your pitch to various lenders. If nothing else, it will give you good practice! If you think you might have more of a chance of obtaining money from your own bank where you already have a strong relationship and good financial history, then don’t put it first on your list of visits – present your case to a few different lenders first to hone your presentation and persuasion skills to a tee!

Even if you can’t find a lender to give you money, there is a government programme that may be able to help. The Department of Trade and Industry offers a Small Firms Loan Guarantee, in which it offers three quarters of the borrowing amount to the lender as a security guarantee. In return, you must pay an annual fee (which will be a small percentage of the remaining loan amount) to the Department of Trade and Industry. Up to quarter of a million pounds can be borrowed over a maximum 10-year period.

Outside investors – often referred to as ‘business angels’, private investors are rich professionals, often successful entrepreneurs themselves, who are able to offer a great deal of capital in return for an expected large profit and dividends when the company starts to make money. The advantage of obtaining finance from an investor rather than a lender is that they will not expect any financial returns until your business is turning a profit. Also, as successful business owners themselves, they can be a valuable source of advice to guide you in the right direction with your company. A combination of investment and lending might be a good option. Your business will seem a much more attractive and secure prospect to lenders if you already have a sum of capital to back it up. Investors will no doubt have a level of influence and decision-making power in your company, though. Most will want to be kept informed of what is going on – they will want to protect and develop their investment, of course, so you will have a responsibility to them. Also, when you start to turn a profit, it will be divided among everyone who has invested so you won’t get the full whack. Finally, you’ll need to put forward a very good business case to attract an investor – these are very wise, shrewd and experienced entrepreneurs.

Government schemes – there’s a whole raft of options available to small business owners from the government and local authorities in the form of low-cost loans and grants – in fact far too many to mention here. Your local business enterprise centre, chamber of commerce or local council will be able to advise on what options are available for your type of business. The loans are usually offered at very reasonable rates and grants are of course non-repayable (although competition can be tough). Such incentives are often given to certain types of businesses in certain industries located in certain areas, particularly in areas that are being regenerated and in fields such as science, research or engineering.

In conclusion, the key message is that however you get the money you need for your business, you’ll need a very strong business plan – and you’ll need to practise your skills of presenting to ensure you make a good impression and a convincing case.

The presentation of the document itself is also important. Keep it clean, crisp and sharp. Use a business-like typeface, use colours sparingly and use spreadsheets to create neat graphics. Have someone else look over it for you when it’s done to check for mistakes. Print it on good paper and hold it together in a presentation folder or comb binding.

Don’t just plan to read out your business plan – people can do that for themselves. Turn it into a slick presentation with a strong argument for your case. Write down what you want to say and rehearse it several times – in front of a mirror at first and then to family or friends. Confidence is key and this will come with practice. Ensure that you know the details of your plan inside out, including the figures. You don’t want the facts to trip you up. It’s also a good idea to consider what questions investors or lenders might ask and how you can answer them confidently and convincingly.

Bad Credit Secured Loans - Low Rate Way For Bad Credit Bearers

2008-03-02T21:04:00.000-08:00

For those people who have a bad credit history due to their past financial dealings, the loan opportunities always charge something which is unduly high. Taking up loans is costlier for them. But when the borrowers take up money through bad credit secured loans, they can take up the money and save the interest too.

By pledging an asset with the lenders like a car, home, stocks, bonds etc which has a high equity value in the market, the borrowers undertake a security with the lender. This security helps in getting a lower rate of interest as the retrieval of the loan amount is assured. Even if the borrower fails to make the repayment, the amount can be retrieved by selling off the asset.

Through these loans which are secured, since there is no risk to the borrowed amount the borrowers can take up a bigger amount in the range of £5000- £75000. This amount can be used to fulfill any personal needs that have arisen for the borrower. These may include debt consolidation, wedding expenses, educational funding, car purchase, home improvement, travel expenses, medical expenses, vacation expenses etc.

These loans are required to be repaid in a term of 5-25 years. Also, the rate of interest for these loans is very low even in spite of the low credit score as the borrowers provide the security. With the low rate of interest and a long term of repayment, the borrowers do not find it difficult to repay these loans. So practically there is no risk to the asset which is pledged.

With the timely repayment of these loans, the borrowers can also make an improvement in their credit score. This will help and perform another benefit to the borrower in addition to required personal needs. Even lower rates of interest can be availed through the online research for these loans.

Frugal Living Tip #8 - Buy Used - Always

2008-02-26T02:50:00.000-08:00

Reading the title of this edition of frugal living tips you are probably thinking to yourself, Thank-you Captain Obvious. Well, while the notion of saving money by purchasing used is not exactly groundbreaking, I'm here to remind you that the majority of us don't take this powerful saving tool far enough.

What do I mean by this? Start by taking stock of some of the possessions in your house. Sure, you got that sofa by replying to an ad in the local classifieds, that table lamp came from a garage sale, and those jeans came from a thrift store. But what about your TV, dishes, tennis rackets, winter parka? What about your car, or your house? Odds are the majority of the items in your household were probably bought new at the store. But just about every material good you own, regardless of how big or small, could have been purchased at a significant discount if you had bought it used.

The two most expensive purchases - a house and a car - are often purchased new, despite the immediate depreciation that occurs as soon as we sign the papers. But, wait a minute, houses are an appreciating asset, aren't they? This is true, in most real estate markets, however when you purchase new you will face the applicable sales tax. Here in Canada that is a 5% GST tax added to the purchase. Not exactly peanuts when applied to a $400,000 sale. Now you've paid $420,000 for your nice new home. Compare that to a five year old home with the same specs in the same neighborhood. Because it is not brand new they cannot justify pricing it at the same level as the new home down the street. Instead this home sells for $370,000, with no applicable sales tax. Purchasing the used home could have saved you $50,000! Project the interest paid on that extra $50,000 over the term of your mortgage, and you can probably double that number. A pretty hefty premium to pay just to have the privilege of being the first occupant.

Cars are even worse. Not only do you pay sales tax and freight charges on a new car, but they are a depreciating asset! As soon as you drive it off the lot its value starts to erode, and in five years, when you've finally finished paying for it, it will likely be worth less than half what you paid. The solution is simple: Let someone else pay that depreciation. Shop around, and read consumer reports on automobiles 3-5 years old. Look for gas efficiency and reliability above all. One of the major reasons people buy new cars (or even worse, lease!) is because they don't want to be hassled with maintenance problems. If you do your research carefully you can find a solid, reliable used car and enjoy nearly the same level of peace of mind, but at less than half the cost!

So, those are the big ticket items, but that is just the tip of the iceberg. Whenever you have a need or a want, get yourself out of the habit of heading down to the department store. Instead, start your search in the local classifieds (print and online), head to garage sales, thrift stores, flea markets. Everything you need is being sold used by someone somewhere, and often at a discount of up to 90% off what you would pay for it new. Even popular items will be sold at least a slight discount to their retail counterparts. Someone selling used items for the same price as new aren't going to do very much business.

Turn your search into a game. Comparison shop even among used goods, and try and find the absolute best bargain possible. You might have to wait a few days, but eventually you'll come across what you are looking for at a smokin' price. By applying this technique to every item you buy, from forks to fridges, you can cut your discretionary spending in half!

There is another bonus perk if you are purchasing goods directly from other individuals, rather than businesses. In most cases, they will not accept credit cards. Cash is king for person to person transactions. This forces you to only buy what you currently have money for - a great impulse check and yet another way to keep those credit card balances minimal.

As a final bonus you'll find that a lot of the used goods you purchase depreciate little, if at all. That dish set you bought for $5 at a garage sale will still sell for $5 today at your own garage sale. That's a nicer outcome for you than for the original seller who paid $50 for the dish set in the department store.

So, take that sense of thrift to the next level. Stay away from those department stores, and start buying everything (except underwear) used. Your stuff might not be quite as bright and shiny as your neighbor's, but you'll be resting easy, financially comfortable, while they are struggling to pay off their credit card bills. Just remember, you can't put a price tag on peace of mind.

Financial Planning - 5 Ways Of Not Overspending When On Vacation

2008-02-26T02:46:00.000-08:00

Most people look forward to vacations the entire year. It is a time of relaxation and of family bonding. Some families meet new places, some go to the same location every year, and some just stay home and rest. It does not really matter where the holiday takes place, but how much you spend on them. Following you will find some tips on how to enjoy your free time without spending more than you need to.

Savings: Key To An Unforgettable Trip

If you still have a good four or five months before departing, then this recommendation will fit you like a glove. If each month you put aside 10%-15% of your income and destine it solely to a vacation fund, then when the time to pay for that trip comes, you will have saved enough for the expenditure not to hit your finances so hard. Setting aside such a low monthly percentage will help you to save without you even noticing it. And what is more, you can apply this technique not only to trips, but to anything else you might want or need.

Coupons And Promotions: Your Best Friends

It will be a good idea for you to surf the web in search of any promotion that might help you to save a few bucks in your trip. If you usually travel by plane for business or something of the sort, you might have many frequent flier miles, which will be great if you are flying to your special destination. Otherwise, you will be able to contact tourist information and they will let you know if they offer any promotions on accommodation or transportation.

Budget: Keep Focused On It

Nowadays, many households make financial plans before leaving for holidays. They include the cost of the essentials, such as food, accommodation, transportation, etc, and try to make out how much money they will spend without going overboard. Now you and your family have your brand new budget and you are about to leave for your very much expected holidays, everything is perfect. Once you get to your destination, you have to stay focused on that little piece of paper on your pocket or daily planner. Most people tend to forget they ever made a budget and start spending like crazy, do not let this be your case. Concentration and motivation are essential.

Credit Cards And You: Learn To Go Separate Ways

Evidently, bringing your credit cards with you on your trip is a very accurate decision. In case of an emergency, credit cards can really come in handy. But it is advisable not to carry them around with you. If you leave the hotel, leave them there. Keep them somewhere safe, but not with you. Why, you might be wondering. To resist temptation. If you only have cash with you, the necessary amount for you and your family to dine out, or to go to that excursion you had in mind, you will not be able to spend it on unnecessary things. Otherwise, it will be very easy for you to get carried away and to pay everything with your plastic card.

Have More Money in Your Pocket With These Financial Tips

2008-02-25T03:40:00.000-08:00

No one ever said that managing your finances is an easy thing to do. Many of us have a difficult time living on a tight budget. One positive is that through smart planning with the help of some basic knowledge of refinancing, you can save a good deal of money. Better yet, you can watch it grow. That's why you need to find ways of financing to put more money in your pockets.

There are a number of different options you can take when it comes to learning more about finances. The most important is probably have some good common sense. The trick is to focus in on your goals and find solutions to what's holding you back from having money. Here are some simple ways you can begin putting money back into your pocket instead of paying it out to someone else:

* Start with debt management - If you are buried under credit card debt, one thing to take refuge is the fact you're not the only one. Nearly everyone you meet has some sort of credit card problems. One way to If you're mired in credit card debt, you're not alone. I recommend refinancing your mortgage as a way of cutting into that debt. A mortgage refinance can get you a lower interest rate than most credit cards, leading to significant savings of money in the long run. Another option is for you to consolidate those debts too.

* Be aware of all your interest rates - Ok, maybe you're not in financial debt or trouble but you may be losing money by not paying attention to it. If you have money saved into account or in investments with too low of an interest rate, you're losing money that can be potentially be making. This happens most often in checking and savings accounts that pay extremely low interest rates. That interest rate can even be voided from the the pace of inflation. Financial experts are saying to move your money to a liquid money market. This pays a higher return.

* Open a home equity line of credit - I'm sure you've heard to save your money for a rainy day. The old line of thinking was to save three to six months worth of your salary on hand in case you ever found yourself in a financial crisis. You can do that or you could use that money for more lucrative money making potential. Try going with a home equity line of credit for your emergency or rainy day fund. This way the only risk you face is paying on the interest rate of any money you use from that line of credit.

* Refinance - Refinancing isn't the end all answer to your financial problems. It can , however, make life a little easier but saving you a good deal of money. Do some research on current mortgage rates and then compare them with your mortgage. If you discover you are paying a percentage or two more than you should be, I recommend refinance your loan. Another option is to refinance to one with a shorter term. This can save you thousands of dollars in long-term interest.

Debit Card - What It Is And How It Works

2008-02-25T03:37:00.000-08:00

Do you remember the days when the debit card was the most important means of transacting business? Very few people then had credit cards. Together with the check book, it was the primary means of doing transactions. Those were the days when there were very few credit-card owners.

So what exactly is a debit card and how does it work? It is like a credit card, made of plastic and is used as an alternative payment methods to cash when purchases are made. Typically, it is directly linked to the card holder's account. Whenever they are used to do transactions, the card holder's account is automatically deducted.

Here is an example of how it works. John Doe has one that is tied to his savings account. He has an opening balance of $15,000. Now since it is tied to a savings account, John Doe can use his card to do $15,000 worth of transactions, either in the form of purchases or ATM withdrawals.

Many debit cards have a maximum withdrawal amount per cycle built into them. For instance, you may have a withdrawal limit of $3,000 every three days. What this means is even though there may be more than $3,000 in your account, they can only withdraw up to $3,000 in any three day cycle. This particular feature was used to safeguard cardholders against possible theft and the subsequent draining of the cardholder's account.

Coming back to the example above - assuming John Doe had a three day cycle limit of $3,000, and he made a purchase of a stereo set costing $1,500 on day one, the balance on his savings account would now stand at $13,500, and over the next two days he will only be able to do ATM withdrawals and or purchases to the tune of a $1,500. Again, this feature is designed to protect the card holder against theft.

If after doing a number of transactions, John Doe brought down the balance in his savings account to $1,000, then this is all that will be available to him even though he has a three day withdrawal cycle of $3,000.

Debit cards are a safe means of making purchases since it saves the purchaser from having to walk around with cash in order to make his or her purchasers.

When this was the primary tool for making purchases, it kept card owners out of financial trouble since they could only use or withdraw what was in their account, and could not overdraw their balances.

Now how is John Doe's account updated each time a transaction is done? Each debit card has a black strip at the back of it. This is known as the magnetic strip and contains information about the card holder that cannot be seen by the naked eye. This information includes the card holder's name, banking institution, bank account, branch, and other pertinent information. When the card is used to either do ATM withdrawals or purchases from merchants, a card reader is used to initiate and conduct the transaction. In the case of an ATM withdrawal, the debit card owner place is the card in the card reading mechanism, and enters a Personal Identification Number or PIN that identifies him or her to the system. This is validated by the machine and opens the way for the cardholder to do an ATM transaction. Withdrawals of amounts that fall within the account owner's balance will be honored. All others will be declined.

When the cardholder makes a purchase, pretty much the same steps are carried out as if he were going to do and ATM transaction. The only difference here is instead of the big ATM machine, the merchant to have a much smaller hand-held cards Reading machine. The steps a pretty much the same. The merchant swipes the debit card in the card Reading mechanism then enters the amount of the transaction. The card owner must now validate the transaction by entering his of her Personal Identification Number. Once all is correct up to this point, the card reading machine would now use the network that is in place to determine whether the cardholder has funds in his or her account. If they do the transaction is completed. If they do not the transaction is declined.

While debit cards are not as popular as credit-cards, they're certainly a very valuable tool for anyone who is serious minded about savings and monitoring their indebtedness to financial institutions. Since the debit card typically works with the card owner's available balance, it negates the whole credit process thus helping the cardholder to avoid on necessary indebtedness. It disciplines the card owner into managing their personal finance and thus saving credit facilities for when they are really needed. That being said, they are an excellent means of rebuilding your credit.

Winning Tips for Spread Betters

2008-02-19T02:16:00.001-08:00

I have been trading futures, options and equities for many years. As well as trading my own money I have traded money for banks and I have been a broker for private clients. Over the years I have been fascinated to discover the difference between winners and losers in this business.

Try to learn from the points I am about to give you.

To maximise profits, Direct Market Access (DMA) and Level 2 are essential. This allows me to see the strength of the order book and place an order either inside the spread or join the queue outside the spread. Over time this has a huge bearing on trading efficiency.
The broker I use allows me to go straight to the market and does not charge a commission. There is no stamp duty and of course no income tax or capital gains tax on profits. Again this has a huge impact on trading efficiency.
I have only really read one book on how the market operates and that is 'The UK Trader's Bible by Dominic Connolly'. I wish him well on the other side of the world.
It is essential to have a high aptitude for risk and a gambling mentality. Conversely you have to be risk aware and all the time you are trying to make your trades more efficient by getting the odds on your side. I know what I mean here but hard to explain.
Outside spread betting I chiefly invest in small cap companies. Spread betting on FTSE 100 companies requires a greater awareness of the macro economic picture. For example, prices can move rapidly when economic news is released, it is essential to be in front of the screen when this happens. Likewise, London prices react to movements on Wall Street so an eye has to be kept on the Dow Jones Index.
Avoid the temptation to take positions outside your chosen sphere of knowledge. I got to know "my shares" well but once or twice was tempted to take a position on a share I did not know which had experienced a sudden price movement. It usually was not a good move.

As I said at the beginning I am no expert on spread betting and I am sure there are many books which set out techniques and strategies far better than I have. What I do know is that the above has worked for me and I have managed to recoup the losses of last year with some profit left over. I am sure that there are many flaws in what I have written and yes luck did play its part.

I used to work for a group which had a spread betting division, I had no involvement with the division but I know from talking to the guys who ran it that most spread betters end up making losses. I therefore do not encourage anyone to follow in my footsteps but if you do, be aware that the losses can be far higher than your initial stake. It is not a game for the faint hearted.

It is hard work and can be very draining. For that reason and also because a torn muscle has healed at least I hope it has, I am returning to the golf course for the summer months and my spread betting career is over for the time being.

Taking Care of Business At Home - A Personal Finance Checklist

2008-02-19T02:15:00.000-08:00

Why would you not consider yourself a business of ONE person? Or your family as a business of 3 or more people? Well that is exactly what you are - "Me Incorporated", "I Inc", "We Incorporated". You truly must consider yourself a small family business. Like any business you have ongoing expenses (mortgage, rent, utilities, groceries), revenue (salary and other income) and major capital expenditures (house, vehicle, vacations, renovations).

Like any good 'household business', you need to do some planning. Set out a budget for the year, track your expenditures and retained earnings (savings). Yes, all of this looks, feels and is exactly like a well run business. On My Gosh! Don't rush out and buy an accounting package to run your household. And no need to take a crash course on accounting or bookkeeping. You can accomplish all your financial tracking and planning requirements with some paper or by using a simple template with your favorite spreadsheet package - Microsoft Excel or even with Open Office.

Just like a well run business, your household budget and tracking your spending is best served using a visible record of events; namely, financial records, bank or check register. It is just like tracking your road trip progress using a map. If you know where you are now, then you will have some idea when you will arrive at your destination. In life, money or finances allows you to get to your personal destinations or dreams. A visible financial roadmap of your 'Me Incorporated' finances, mapping your progress, seems logical.

Running your 'Household Business', like corporate business, requires a few processes to keep track of your finances:

1) Establish a yearly and monthly household budget. Consider all your expenses - weekly, monthly, quarterly and yearly outlays of money. You will be surprised at the length of this list and all the places you spend your money.

2) Track monthly your actually spending and income against the budget you established in step 1. This will help you see the 'peaks and valleys' of spending or seasonality aspect of your expenses. Over time, you will come to know these expense 'peaks and valleys' and this will help you maintain a positive cash flow. Bottom line: have money in the bank to pay all your expenses and still have some left over (retained earnings). Your single biggest challenge in running any household (or business) is always having enough money in the bank to pay the bills; especially, the unexpected ones. Having a buffer of savings will help with these 'peaks' in expenses.

3) Track all your bank account activity. Track and enter in your Bank or Check Register every deposit, every electronic (ATM, web, PayPal, debit machine) transaction and every analog (check, money order) withdrawal. And reconcile your bank statement every month. Know exactly how much money you have available in your bank account(s).

4) Especially track your spending through credit cards and lines of credit. These are potentially the 'run away' expenses. Remember only once a month do you see the visible record of your credit card spending. Compound that with the fact that most people have more than one credit card. This can easily result in multiple 'spending surprises' each month. Be diligent in tracking your use of credit card transactions. Breakdown the credit card expenses into their respective budget items - gas, groceries, clothing, entertainment, etc. This will help you separate normal household expenditures from other shopping incidentals. You will come to see your spending patterns and can now make adjustments. Just like your bank account, reconcile your credit card statement every month.

Top 5 Reasons to Avoid Store Cards

2008-02-18T03:40:00.000-08:00

Store cards are a form of credit card where a consumers can spend on the card and then either repay the balance in full at the end of each month in order to avoid interest, or can spread the repayments on the card over a period of time, in which case interest will be charged on the balance until it has been repaid in full. Although more and more shops are now offering store cards, there are not many benefits to having these cards and they can quickly lead to mounting debt for the consumer. Below you will find five of the top reasons to avoid taking out store cards:

1. The interest rates. The rate of interest charged on most store cards if the balance is not repaid in full at the end of each month can be extremely high, and can quickly add to the balance, leaving the cardholder in increasing debt. Those that make minimum repayments on the card will fare particularly badly as they will be the ones that are hit hardest by the interest payments.

2. Temptation. Store cards are well known for increasing the chances of impulse buying, and many sales staff at shops bank on consumers' impulsive streaks in order to get them to sign up for a card. When you sign up for a store card you often end up purchasing something you would otherwise not have bought simply because the salesperson offers you a discount for taking out the card. In addition, future discounts may encourage you to make purchases that are unnecessary, and if you don't repay the balance in the interest free period any discount will be counteracted by interest charges anyway.

3. No cash transaction facilities. A store card does not enable you to make cash withdrawals and transactions, and this means that if you need cash in an emergency you will certainly not be able to rely on your store card. You would be far better off with a credit card, as this allows you to withdraw cash or make cash transactions should you need to, although these are best avoided wherever possible due to high charges that are applied.

4. Restrictions of use. With a store card you are very restricted in terms of where you can use it. You can only use your store card in a particular shop or chain of shops, and this means that you have very little in the way of choice. You may be able to get the same or a similar product cheaper elsewhere but may end up going for the most expensive one simply because you have a store card for that particular retailer.

5. False economy. Many store cards offer a range of discounts to cardholders when it comes to their products. However, unless you tend to repay your balance in full at the end of each month -in which case you would fare far better with a rewards based credit card due to increased freedom and a choice of rewards- any discounts would be counteracted by the very high rates of interest charged on your balance.

Top 5 Tips on Easing the Financial Hangover

2008-02-18T03:39:00.000-08:00

After Christmas and New Year celebrations have finished many of us find that we are left feeling tired, drained of energy, and worse still drained of money. The Christmas period can be a very financially demanding one, and once the festive season is over many of us take stock of our finances only to discover that we have spent far more than we originally planned leaving us facing financial difficulties.

In order to ease the financial hangover that can hit many of us at this time of year there are a number of steps that you can take. This include:

1. Check whether you can get a better deal on your credit card. If you have used your credit card to fund Christmas and you are being charged a high rate of interest you may find that one way to save money is to switch your card to another type of card, such as a 0% balance transfer card, which will allow you additional time without being charged interest to repay your balance. This could save you a small fortune in terms of interest.

2. Could consolidation help? If you have accrued a fair amount of debt over the Christmas period with store cards, credit cards, loans, etc. and you already had some debt prior to this you may find that one effective solution is to wrap up all of these debts into one lower rate consolidation loan. This will ease financial management for you and could save you a fortune in interest. It could also help to reduce the amount that you pay out each month.

3. Cut out your unnecessary spending. Most of us splash out more on going out, buying clothes, and treating ourselves over the festive season, but you should avoid continuing this into the New Year. Try making a few cutbacks when it comes to shopping for non-essentials and going out - the money you save could be put towards the debt you have accrued over Christmas or you could put it aside in savings towards next Christmas.

4. Don't hoard what you don't need. Let's face it - we all get presents over the Christmas period that we did not really want and will not use. If this is the case why not look at getting rid of some of these gifts rather than hoarding them for prosperity. With portals such as Ebay available, selling your unwanted goods needn't be a hassle, and you could raise a fair amount of cash to put towards repayment of your debts.

5. List where you can make savings. Go through your accounts and make a list of services on which you could save money, such as your car insurance, home insurance, utilities, broadband, etc. Then use the various price comparison sites to see whether you could save money compared to what you are currently paying. If so, make the switch and you could soon be saving a small fortune each month to put towards repayment of your debt.

Diet of Financial Abuse - Have you Packed on the Pounds in Investment Defeating Costs of Living

2008-02-13T02:52:00.000-08:00

Financial Abuse costs you more than money. The reality is when you abuse your budget you pay with retirement, child care costs, health costs, and other fees too numerous to mention. So what can you do about it?

These suggestions will help you put in place a financial management system that works effectively all the time, every time, to save you money.

Meal Time Planning and Freedom

As a parent you may believe, mistakenly, that if you don't prepare food for your child for every meal, your child will be permanently damaged. Sometimes you need to allow your children to fend for themselves, and prepare exactly what they want to eat. (I'm not talking two year old cooking stew here, I'm talking simple meals anyone can prepare.)

Growing up, my family had Fend for Yourself Night once a week. Everyone prepared something they wanted from a specific selection and had a great meal, filled up their belly, and didn't break the bank. From a selection of ramen noodles, frozen veggies, fresh veggies, fruit, breads, and a few small canned meats and soups, we were allowed to prepare what we wanted. The only rule was it couldn't be fast food, and it had to be somewhat healthy (no candy bar/soda pop dinners). My favorite meal was buttered wheat toast, fruit, and tea. My tummy was happy, mom was content, and I didn't have to work hard. It's still my favorite fast food meal.

How often do you grab McDonalds or Arby's because you're out of time? Is it really faster to drive across town than to pop bread into the toaster. Top toast with peanut butter and add a banana or an apple and you've got a healthy FAST meal, that only cost you pennies. No, you can't do that for every meal, but why abuse the fast food privilege? Why not use that option only for special times, when you really want to spend that money?

The best part of Fend for Yourself Night, it teaches children to prepare simple foods for themselves, a skill they'll need in college, that will keep them healthy and well fed on a limited and very SMALL budget?

I remember my daughter calling home and saying she'd been careless with her money, but she still had food for the last week of the month. I asked what she had, and she told me she still had peanut butter, two cans of tuna, two cans of pineapple, a case of ramen noodles, several cans of veggies and fruit, a can or two of pudding, and a box of tea bags. She had eighty-five cents for a loaf of bread. She restocked her supplies on the next paycheck, and was happy eating at the dorm until she got paid.

Smart Consumers Save Money with Gas Rebate Credit Cards

2008-02-13T02:49:00.000-08:00

Prices at the pump continue to skyrocket, leaving most Americans frustrated and stressed by budgets that are strained to the limit. High gas prices shocked consumers and made headlines a couple of years ago, but by now everyone knows that they are here as a permanent reality. The only news worth mentioning nowadays is practical advice on how to survive the rising expense of fueling our cars, trucks, SUVs, recreational vehicles, boats, and other kinds of miscellaneous gas-powered equipment.

But many consumer experts recommend a simple and straightforward solution that offers a direct way to address the problem. Credit cards that offer cash rebates and other benefits are not only safe and convenient for buying gas, but they offer significant savings that go directly back into your wallet, not into your fuel tank. By buying gas and other items with the right card - or the right combination of different cards - you can offset the financial impact of overpriced gasoline without paying added fees, high interest rates, or hidden costs.

The credit markets are in turmoil because of the spillover of problems related to bad mortgage loans, and banks and other lenders who offer credit cards are competing fiercely to get your business as their own profits get pinched. Take advantage of their generous offers while you still have the chance and you can leverage the bleak situation to your own advantage by paying less for gasoline.

For example, dozens of major credit cards now offer a wide range of benefits, cash-back offers, and other incentives for using plastic, including these:

* Apply for some cards and they will give you $50 back after your first purchase.
* Many cards pay 5 percent or more cash back to you for ordinary purchases such as gas, groceries, or prescription medications at the local drug store.
* Some combine these rebates with other perks; such as coupons you can redeem for merchandise or travel upgrades.
* The more you use some cards, the more cash you earn. Use these types of cards often enough to qualify for preferred card user status - which isn't hard if you buy gas on a regular basis - and companies will even throw in other gifts and cash rewards.
* Lots of cards do matching programs; so that for every dollar you spend you get a bonus point. Many offer double rebates, to double your points or cash savings.
* Apply for many of these popular cards and you can get a free signing bonus worth, for instance, as many as 12,000 bonus miles that you can redeem for travel awards with any airline without restrictions on which dates you fly.
* An important feature of the best rebate cards is that they do not charge you any annual fee, unlike most frequent flier or frequent user programs that charge as much as $100 or more just to join and be a member.

With lots of these cards you can also get zero percent financing for up to a full year on all your purchases and credit card balance transfers. So if you have costly credit card debt you can switch it to a rebate card and make money in a matter of minutes. Say, for example, that you owe $3,000 on a credit card that is charging you 18 percent interest. Shift that balance to a zero percent card and you automatically save yourself 18 percent interest, which is approximately $540 or nearly 50 bucks a month.

On top of that instant interest rate savings you will, of course, still be entitled to whatever rebates and benefits the card offers. That kind of consumer strategy is like giving yourself an unexpected payroll raise. Soon the credit card company of your choice will be pitching in to pay for your gas each time you fill up the tank. That is a great way to manage your finances in partnership with those who issue plastic, during these challenging economic times.

Financial Money Fun - Having A Great Time with Money

2008-02-11T04:22:00.001-08:00

I've decided that having fun is actually critical to getting anything done. Someone once said have fun and get it done, and it's really true. That's why dealing with money has to be fun. We have to enjoy the process of taking care of our money, because that's how we take care of ourselves, and actually it can be extremely rewarding, esp. if you are coming from a low level of functioning, like I was, which rendered my situation chaotic.

Chaotic and disturbing are the words that spring to mind when I think of my approach to the worldly goods to which I had been endowed. And no wonder-I never wanted to face my finances because so far from being fun, my bills, saving and spending were frightening to me. I never felt there was really enough, and this in turn left me feeling scared and dodgy. I would do anything to avoid dealing with the numbers, but now I look at things differently.

It pays pays pays to look your money square in the eye with gratitude and a sense of fun and adventure. I can feel that way with no problem when I'm shopping, it's just all the other times that require a conscious application of joy and bonhomie to get me into the spirit of things.

Take when I'm paying bills. After setting up a system of tracking and paying bills, I now actually get a thrill of satisfaction when I have dealt with my bills. The dread of being overdue, not knowing when things were due, wondering how much was due, wondering how much I had in the bank to pay what was due ... you get the picture ... has changed to a real sense of accomplishment. I feel solid and powerful when I know my paperwork is up to date. It's a relief and it actually helps me feel and sleep better. What's interesting too is that it gives me a better outlook on the present and future in terms of what I can spend, and how to spend, because I'm mindful of where my money is currently flowing to, and this allows me to realistically project where future money may go.

For instance, the other day I was looking at my credit card bill and noticed how much I had spent on medical and supplements. My initial reaction was "Oh Lord, not all that!", but that was immediately replaced by a feeling of real thankfulness about how improved my health is over what it was 10 years ago, and that the reason for this is that I now spend the time and money required to mend and maintain my body, and that just made me feel so good.

Another thing that happened was I saw there had been no vacation expenditures. I'm the kind that has to be reminded to play, so I took one small step towards recreation, and set up a regular date night on Friday nights with my boyfriend. Just monitoring where the money went helped me to actually get a read on how I was living my life, and how to make minor adjustments if need be, or express happiness at knowing I'm on track.

Having fun with money isn't all that hard if you start with the small things and do them consistently. You could try just organizing the cash in your wallet every day for a week, so they are in order and so that you know how much you're carrying. You could spend 15 mins. a week working on balancing your checkbook. You could start the habit of sorting your mail every single day when it comes in, immediately tossing the junk and paying the bill when you lay eyes on it, even if you don't mail it till later, or send the payment electronically till later. You will be surprised at how these little things you do for yourself on a daily basis will make you smile and lighten your load.

Personal Financial Success Through Unusual Means

2008-02-11T04:20:00.000-08:00

Time and money are valuable assets for most people like you and me. Success seems to be measured in the quantity that a person possesses of at least one of these assets. However, due to the enormous luxury of the internet, there are many ways for us to increase both our free time and personal income. By simply taking advantage of many free opportunities available on the internet, people, just like you or me, can increase monthly income while also gaining valuable free time for family, hobbies or doing nothing. This is a path to success that everyone can be excited about.

Through the use of fantastic tools such as affiliate marketing companies, Craigslist postings and a few minutes per day, a person can spend absolutely NO money out of pocket and create extra income to be used for whatever purpose one needs. By using such free opportunities as the article that you are reading right now, I have been shown ways to provide security for my family without taking the risk of losing a single dime. Few other business opportunities can offer this incredible option.

There is no need to invest thousands in real estate, multilevel marketing or inventory supplies that you may or may not be able to resell. Take a few moments to observe people that claim to make money online. Do the claims sound too good to be true. They may be. With such programs as affiliate marketing, ezines and blogs, a person with simple word processing skills (or a few minutes to learn them) can begin to create an entire home business. There are no get-rich-quick schemes. But, there are ways to gain a small education and quickly begin to build a true, reliable and consistent income for you and your family. No matter how one defines success, more money, more time, greater security and the feeling of accomplishment are always steps on the path to our success.

You can Depend on Asset Finance for Owning Commercial Property

2008-02-08T03:35:00.000-08:00

Asset finance means a lot to people or companies who are in the business of purchasing assets for running their business with success. Put in other words, asset finance enables in saving your working capital for other good uses by letting asset finance do the purchasing. Asset finance is especially useful for small and medium enterprises as for them it is a great lending source of working capital.

Through asset finance you can purchase a property by way of hire purchase, lease purchase and leasing. Usually it is for vehicles such as cars, light commercial and heavy goods vehicle, plant and machinery or equipments like manufacturing, engineering and construction that asset finance is availed. The amount one can borrow under asset finance ranges from £10000 to £10000000 depending on equity in collateral. Lender will offer asset finance against any property which has greater equity in it. Since huge finance of the lender is at stake, asset finance is essential a secure financing. The property to be purchased also can be the security of asset finance.

Asset finance comes mainly in two options of hire purchase and leasing. The higher purchase option allows you to take ownership of the new asset you purchase. You can choose between fixed rate and base rate hire purchase. On the other hand under leasing agreement, the company offering asset finance agrees to purchase the asset and gives it to the customer on lease for agreed period of time at an agreed monthly or quarterly rental.

It is very important to first search for a suitable asset finance company. The field of asset finance is vast and there are companies who may be offering asset finance for a specific property purchase with specific conditions. So you shall have to extensively search and read the terms-conditions of the finance providers first. You should be very sure of your requirements from asset finance. Then only you can locate a suitable asset financer for your business.

The Importance of Making Work Personal for Finance Graduates

2008-02-08T03:11:00.000-08:00

The cold numbers and profit-first logic of the finance world can make finance graduates feel like robots. Financial firms place a premium on dispassionate advising and an adherence to regulations to protect the investments of clients big and small. While it is important to maintain an impeccable standard of performance, finance graduates need to make some aspects of their jobs personal to provide the best service possible.

Finance graduates need to take a micro level approach to their job on occasion to stay grounded. The temptation for many graduates is to look at commission numbers and the portfolios of larger clients to increase efficiency on the job. An occasional review of stock holdings, investments and the financial overview for a young family or a small-scale investor can bring the importance of doing a good job home for overwhelmed graduates.

There is a way for finance graduates to make work personal with each document completed and each trade managed. Finance graduates can think about each action in terms of its reflectivity of their own values. A financial advisor with knowledge of a risky new venture can ask if a more conservative trade would be appropriate for a client. Quarterly and annual adjustments of financial portfolios can be viewed in light of the potential benefits for the account holder.

A graduate also needs to look at the practices and missions of his employer during an evaluation of daily practices. It is impossible for a finance graduate to follow self-imposed ethics and best practices guidelines when an employer is not providing adequate resources. Finance graduates need to take advantage of every opportunity to express their opinion in order to shape the direction of their employer. A combination of advisory positions, informal comments in meetings and official comments through internal documents ensures professional comfort for finance graduates.

The most important way for finance graduates to make work personal is to look at long term goals. Graduates need to think about their desired destination in five, ten and twenty years as they help clients find the best investments. A financial graduate is best served to treat customers with respect and show an unimpeachable work ethic to employers in order to build a strong reputation. Finance graduates need to work for the job they want while they work in their present job to meet their professional goals.

Save a Little Money Now - Get a Big Reward Later

2008-02-07T03:12:00.001-08:00

Saving money. It really doesn't matter who you are, every one wants to save money. You could be a college student trying to make the money you have last, a frugal mom or even a millionaire. It seems every one is looking for a great deal, and they rightly should be.

I fall into the frugal mom category. I use to spend my Sunday afternoon, flipping through the newspaper clipping coupons. All of that wasted effort to simply find a 35 cent coupon of my favorite brand shampoo.

There are five people in my family and it never seemed like I could get out of the grocery store without spending a minimum of $150. Any time the price went above that I seemed to get a sick feeling in the pit of my stomach. So over the weekend I would go grocery shopping and it always seems like Wednesday I'm headed back to the store for something I forgot or had already ran out of. It was only going to get worse, with three growing children their stomachs never seem to get full. When it comes to grocery store savings, this is something I focus on as a major part of my money savings plan. Why, you might ask. I figure it this way, I go to the store at least one time a week, most weeks two or three times. If I could learn how to save money every time I went to the register I could put the saved money away and spend it on a want that I have not just a necessity.

Here are some tips that I use, first I always make a grocery list, and I try to be disciplined to stick to that list. When creating a grocery list you need to menu plan, know roughly what you intend on making every night for dinner. If you don't do this when it comes time to make supper one evening you may be missing a key ingredient, this leads to a trip to the grocery store witch inevitably will lead to an impulse buy. When you make your list and you venture out to the store, have self discipline to stick to what you wrote down, and avoid the impulse buy even if it is on sale. Also there are great websites out there that offer coupons that you can print off. Be careful when using coupons that you still only buy what you need, not just because it is on sale. I also always shop at stores that offer a double coupon, a couple of 35 cent coupons doubled, adds up into some big savings. I also go to a site called "Grocery Store Savings" that teaches how you to get name brand products for cents on the dollar.

So what do I do with the money that I have learned to save, well my first priority is to save for a rainy day. No I am not talking about a trip to the movies or an evening out, of course that would be nice, but my first savings go into an emergency bank account. It always seems that you car will not break down until you do not have any money in the account to cover the expenses. It's difficult these days, and if you have children it is even more difficult, I swear I wake up some days, to find that my children out grew their clothes over night. It is a very secure feeling to know that if something happens you have money you can fall back on. You also can put the savings away for a family vacation, a family night out with a dinner and movie what ever it is; it's good to know that you have the means to do that.

How to Handle Money Stress

2008-02-07T03:10:00.000-08:00

Here are some handy tips to keep your cash flow high, keep your life in balance and enjoy long-term stress relief from financial pressure.

Spend Less Money Than You Make.

If you make $1000 per week then learn to live off $700 (70%) and save the rest. When you have saved enough then invest your savings in something that will help you build long term wealth (i.e. property).

Get Out of Debt

Do everything you can to not get into consumer debt. If you can't afford to pay cash for something you want, then save up for it until you can buy it outright. You'd be amazed how little money you can get by with if you stay out of debt.

Stick to a Budget

Do up a budget so that you know exactly how much money you need each week to get by on and then stick to it like glue. If you must treat yourself to items that you really don't need then make sure you pay cash for them. Otherwise forget about it until you can afford to buy it. This includes treats and luxury items.

See a Financial Adviser

If you don't have a financial plan for the future then you're doing yourself and your family a great disservice. Wealth rarely happens overnight. Without a plan your finances are left to the fate of the Gods and your spending habits. Who knows where that will get you?

Increase Your Financial Knowledge

It's like anything in life if you want to improve you have to learn new skills and then practise them. While it's good to seek professional advice about finances it's even better to learn how to do it yourself. There's a ton of books available written by people who have already mastered financial success. The more you learn the less anyone can cheat you from your hard earned cash.

Live a Life of Prosperity Thinking

You either think in terms of lack or prosperity. Whichever you give the greater focus to is what you will attract into your life. Catch your limited or negative thoughts about money and then replace them with thoughts of abundance.

Here's an affirmation that helped me through some tough financial times and took me from earning $20 per hour to $200 per hour in just 6 months; "I love money, money loves me and I am a money magnet!"

Final Thoughts on Money and Stress Relief

One of the most valuable commodities you have is time. Some people have plenty of time and little or no money to enjoy their life with while others have tons of money and little or no time. The real secret to living a relaxed lifestyle is to have the balance of plenty of time and plenty of money.

What is a Recession? - 4 Signs and Symptoms

2008-02-06T03:09:00.001-08:00

The term recession has been surfacing lately amidst all of the housing and credit troubles, but, if you're like most people, you're probably wondering, "Just what is a recession?"

Well, Mr. Webster sees the term this way: a period of an economic contraction, sometimes limited in scope or duration.

Of course, you probably could have looked that up yourself, so let's look at the subject in a more "How does this affect me?" way.

4 Signs of Recession

1. Bob's with no jobs. Unemployment is one of the most telling signs that things aren't doing so great. In case you're wondering, the unemployment rate just hit 5% at the end of last year, marking a new two-year high.
2. Bringing down the house. Most everyone dreams of owning a house someday, or already owns one (street-dwellers excluded), so when such a popular market takes a massive hit, it can trickle down throughout the entire economy. And if you've picked up a newspaper or magazine anytime within the past several months, you should be well aware that the housing market has seen much better days to say the least.
3. Bob's with no jobs -- and nobody's hiring. When financial times are tough, there are less jobs being created, in addition to possible layoffs at current companies. This combination one-two punch not only gets Bob fired, but also limits his options and chances of getting a similar job elsewhere.
4. Pay at the pump. When the price of gas has you seriously considering folding your massive, manly frame into a dainty little hybrid car, it's another sign that a recession may be coming. High gas prices mean less driving, and less driving means less spending. It's a cycle that could easily spiral out of control if the numbers on those price boards keep climbing.

Money - Financial Vagueness

2008-02-06T03:05:00.000-08:00

Financial vagueness what is that is it a new kind of food you eat?

When you are vague about our finances, you push away the things that can improve them.

Excessive debt

One of the ways financial vagueness is showing up each day for you is in the debt that you are carrying.

Staying in debt hurts you and not the banks.

The banks are happy to collect a very high interest and if you cannot pay they can take away part of your salary.

Of course this will affect your credit rating which will make it difficult to obtain credit in the future. Some will go as far as declaring bankruptcy.

Resistance

Resistance to change is one of the many (big) difficulties that many people have in getting out of financial vagueness.

Unpleasant emotions

When you start looking at your financial debts you may bring to the surface unpleasant buried emotions. Most people will say that they did not know that these emotions were even there.

You may fear being embarrassed in front of others like family, friends, colleagues or the neighbours.

Poor money decisions

It is not always easy to accept and move on once you realize that you have made a poor money decision.

It is not healthy for your future to blame yourself or love ones because you were afraid to say stop.

Not having a solid love relationship where decisions to buying big items are not discussed can result in lots of arguing.

Financial awareness

Financial awareness starts with the willingness to break out of the cycle of financial vagueness.

Becoming financial aware is taking responsibility for how you have been treating yourself.

Choosing to become an adult and start putting aside 10% then 15% of your earnings can rebuild your sense of security.

Getting passed the discomfort

You can get control of financial vagueness when you start to get passed the discomfort and taking the time to look at all your bills.

Small steps

If you were to go to the gym and started working out, your trainer would suggest starting slowly. This is the same with finances. Start reading articles in financial journals even though you may not understand the terms used.

Conclusion: Breaking out of financial vagueness starts with a willingness to change and accepting to create a new identity.

Money - Financial Vagueness

2008-02-05T01:46:00.000-08:00

Excessive debt

One of the ways financial vagueness is showing up each day for you is in the debt that you are carrying.

Staying in debt hurts you and not the banks.

The banks are happy to collect a very high interest and if you cannot pay they can take away part of your salary.

Of course this will affect your credit rating which will make it difficult to obtain credit in the future. Some will go as far as declaring bankruptcy.

Resistance

Resistance to change is one of the many (big) difficulties that many people have in getting out of financial vagueness.

Unpleasant emotions

When you start looking at your financial debts you may bring to the surface unpleasant buried emotions. Most people will say that they did not know that these emotions were even there.

You may fear being embarrassed in front of others like family, friends, colleagues or the neighbours.

Poor money decisions

It is not always easy to accept and move on once you realize that you have made a poor money decision.

It is not healthy for your future to blame yourself or love ones because you were afraid to say stop.

Not having a solid love relationship where decisions to buying big items are not discussed can result in lots of arguing.

Financial awareness

Financial awareness starts with the willingness to break out of the cycle of financial vagueness.

Becoming financial aware is taking responsibility for how you have been treating yourself.

Choosing to become an adult and start putting aside 10% then 15% of your earnings can rebuild your sense of security.

Getting passed the discomfort

You can get control of financial vagueness when you start to get passed the discomfort and taking the time to look at all your bills.

Small steps

If you were to go to the gym and started working out, your trainer would suggest starting slowly. This is the same with finances. Start reading articles in financial journals even though you may not understand the terms used.

Conclusion: Breaking out of financial vagueness starts with a willingness to change and accepting to create a new identity.

How To Make Exponential Financial Progress By Focusing On Simple Things

2008-02-02T02:52:00.001-08:00

There's a guy I know who is always banging his head against the same wall... ouch!

He just doesn't get it. Each month he reads a new financial book or attends a new "get out of debt" seminar, but his results are always the same -- zilch.

This has been going on for years and his debt continues to grow, along with personal and family frustrations.

Do you know someone like that? Are you like that?

The way he's going now, a month of one-on-one with Dave Ramsey wouldn't help.

I used to be on a similar path. But then everything started to change -- for the better.

I started to do exactly the opposite of my friend and my debt started to go down and my peace started to go up.

Here's what I did and here's the advice I'd give you. There's a way to get out of debt and grow financial peace exponentially.

And this way always works.

When you apply this advice, your relationship with God and those closest to you will get better, your earnings will grow, your debts will diminish, and your lifestyle will improve.

Your life will quickly transform when YOU start to apply this principle.

Here it is.

WHEN YOU BUILD YOURSELF CONSISTENTLY, MONEY FREEDOM WILL GROW EXPONENTIALLY.

Remember this: every level of income DEMANDS a different you. Every step along the path to Debt Fr.ee Living God's Way REQUIRES a different you. You can't get to where you want to be by staying where you are.

It's really simple. The fastest way to get out of debt and begin to enjoy Debt Free Living God's Way is to learn and APPLY faster. Ask yourself this: What is one financial habit I can start improving RIGHT NOW?

Start small. Take one step at a time.

Write this "one way" on a note and put it on your refrigerator.. What will you write? What is the one small step you can take today?

Honestly, you don't need anyone to give you any suggestions. You already know what it is. You just haven't decided to do it. Maybe you've tried. But you've never done it.

By the way, I hate it when someone says they're going to "try" to change a financial habit. Why? Let me show you.

Look at the desk in front of you. Fix your eyes on something you are able to pick up.

Ready? Now "try" to pick it up.

What did you do? Did you pick it up or did you NOT pick it up? You picked it up, right?

It's the same with financial habits. Don't "try" to do it, just start doing it. "Trying" to change a habit will most likely mean that habit won't change.

You have to decide. "I'm finally ready to ACT on what I know I should do. It's time! I've had enough of this debt stuff. I've had it with being out of God's will in this area. I'm tired of feeling guilty before God and those I love. I'm no longer going to try. I'm just going to do it. God please help me because I'm just going to DO IT."

Build yourself consistently by increasing your knowledge and understanding of what God has to say about finances. Then START to apply. Don't TRY. Just DO IT.

Take action NOW on one financial principle or one practical application and stay with it until it becomes a habit (about three weeks) then move on from there.

You can and will begin to get out of debt. You can and will learn to experience Debt Free Living God's Way.

------

Bob Louder is considered a leading biblical finance expert, and has been working in the area of biblical finance for 20 years. He's been endorsed by some of the most high profile and successful Christian authors and teachers like Larry Burkett, Ron Blue, Dave Ramsey and others.

Bob is the creator the "4 Weeks Money Mentoring Program", a unique online training for transforming money management and wealth building efforts into a highly effective financial strategy - in 4 weeks flat. Its power comes from focusing on biblical principles combined practical application, delivered in a format and pace that makes it easy to get results.

Great Ways To Save Money

2008-02-02T02:50:00.000-08:00

Everybody wants to save money, but the way you do it versus the way someone else does it may be very different. There are lots of ways to go about saving a little extra money every month and we are here to give you a few ideas.

Try to figure out what you purchase every month that you do not need and scrap it. Get a 20 ounce soda every day after work? Get out your calculator and multiply the number of days a week you work by how much that soda costs you every time you buy it and see how much money you are throwing away. Do you smoke? With packs of cigarettes averaging over $4 per pack, you probably spend over $1,000 to $1,800 per year just on this habit alone! That is enough for a decent vacation or in a lot of cases, a full house payment! Ditch smoking as soon as possible if you are money-minded.

Take a look at your subscriptions and ask yourself if you really need them. I have a World of Warcraft subscription that is billed to my credit card every month, yet I have not actually played it in a month and a half. Cancel any recurring subscriptions that you have that you are not making use of or, if possible, simply purchase the item whenever you do find that you need it.

Something else that is good to practice is paying yourself. As soon as you get your paycheck, take some of it and put it into your savings account. Pay yourself before you do anything and trust me, you will manage to get by. After all, how much does $20 to $50 really help or hinder anything?

Depending on what you want to save your money for, set a savings goal. If it is a small purchase, all you really have to do is find out how much the item costs and by when you want to be able to purchase it. If it is a larger purchase, such as a car or a house, determine how much you want to spend, how much of a down payment you want to have, and by when you want to be able to make this purchase. Be sure that you can attain the goal that you are setting for yourself within the amount of time that you set, because if it is unattainable, you will only become discouraged in the end.

And last, but certainly not least, the best way to save money in the long run is to simply live below your means. This means that you should not extend yourself financially even close to what you are capable of. Make sure that by the time you add up your housing, food, transportation, tax, and health care expenses that you will have more than enough left over to put in the bank. Remember that rich people did not get that way by overextending themselves financially. They were cheap and always hunted for a bargain and so should you.

Where to Get Your Online Finance Degree

2008-02-01T02:27:00.001-08:00

An online finance degree is a wonderful option for individuals who want to go to college, but for whatever reason prefer an online forum as opposed to a traditional classroom. Frequently, those who opt for an online finance degree have busy schedules already because of family and work commitments, and juggling a typical class schedule is nearly impossible. Also, individuals who have disabilities often times opt for an online finance degree simply because it is easier to work straight from home. No matter why you want an online finance degree, there are many options out there for you to choose from.

The online finance degree is a very popular major, and because of this almost all of the online universities offer the online finance degree. In addition to this, the online finance degree is not only available in bachelors, but also in masters and in some cases PhD. So, no matter if you want just a bachelor’s online finance degree or want to get an online finance degree at ever level, the choice is totally yours.

Paying for your online finance degree is not as difficult as it ahs been in the past, either, because now you can get student loans and choose different payment plans for your online finance degree. Paying for your online finance degree has never been easier.

In addition to this, you will need to decide exactly what you are looking for in the university where you will obtain your online finance degree. The reason for this is because there are so many online university options that range in popularity, accreditation and cost, that you will need to find out which ones offer the best online finance degree for your budget.

Be sure, however, before you begin studying for your online finance degree that you know your university is accredited and has many successful graduates with their online finance degree.

Finance Debt Consolidation - Click Here For Practical Solutions

2008-02-01T02:25:00.000-08:00

Like a hurricane, the irritating debts might have devastated your finances completely. And now, you are seeking for a finance that will help you to rebuild your damaged financial position. For every debt related issues, finance debt consolidation is the flawless option if you consider. Finance debt consolidation, supervise all your debts that have assimilated from different creditors and, helps to consolidate them in the easiest way possible.

The aims and objectives of finance debt consolidation is to minimizes the debts of the debtors and help them to lead a debt free life. It helps the debtors to accountable to a single lender, instead of repaying to numerous. The standards of finance debt consolidation, help the debtors to supervise and, curb their debts before it create more damage to their financial position.

Furthermore, finance debt consolidation offer services to debtors by leading to lending institutions that provide cheap rate of interest. The rate of interest proffered is lower and affordable to the one that you might be paying currently to different creditors. The drastic changes in the rate of interest directly lessen your repaying burden.

Finance debt consolidation intends to extend its service by classifying it in to two forms: secured and unsecured. Such, classifications facilitate the debtors to borrow the services in the way which they feel convenient. Finance debt consolidation intends to serve even the debtors who might be suffering from CCJs, defaults, arrears and late payments.

Finance debt consolidation carries its function under numerous brands like debt management services, personal debt management, debt consolidation loans and debt management advice for the suitability of the debtors. The services and solutions of finance debt consolidation does not limits to settlement of debts, but march ahead with its policies to support the debtors to restore their tattered financial status, and to execute their ends.

Where to Get Your Online Finance Degree

2008-01-31T03:31:00.001-08:00

Finance Debt Consolidation - Click Here For Practical Solutions

2008-01-31T03:30:00.001-08:00

More Britons 'Looking For Help Managing Finances'

2008-01-30T02:04:00.001-08:00

According to figures released by Chiltern, the typical annual income of a Briton looking for help in managing their debts, which may have been accrued through personal loans and plastic cards, has increased by about 3,000 pounds since last August. During this time, the average person seeking assistance with money management earned 20,540 pounds, this has now risen to 23,432 pounds. Meanwhile, the level of money owed has fallen to 26,344 pounds from 26,662 pounds.

However, the company claimed that consumers are still experiencing money management difficulties, as the proportion of men looking for help from professionals with handling their debts has gone up by one percentage point to 43 per cent. In addition, the typical age of a debtor has increased to 44 years. And, despite an increase in salary since the August study, those on a debt management plan will still take them more than 12 years to be free from debt. In addition, such consumers have a monthly disposable income of 228 pounds and owe money to an average of eight creditors. It was also suggested that impact of the credit crunch has reduced the availability of cheap loans and other forms of competitively-priced borrowing, particularly for those who have a "tarnished" financial profile.

Joanne Gill, spokesperson for Chiltern, said: "Our figures show that over the last six months the average yearly income of our clients has risen by over 14 per cent while the average debt has fallen by 1.2 per cent. This suggests people who earn more and owe less are being forced into seeking help to manage their finances because of a number of conspiring factors."

Citing figures from MoneyExpert, Ms Gill added: "Nearly half a million people have missed a mortgage payment within the last six months and with the reduced level of available credit for people with imperfect histories, household finances are taking a battering." She went on to claim that those consumers who are struggling making repayments towards a number of debts need to "be open to different ways of managing their budget".

The firm highlighted that household bills and other types of "priority payments" have increased "significantly" over the past 12 months. Meanwhile, gas and electricity bills have risen by 16.2 per cent, costing an average of 1,055 pounds 76 pence per annum, up from 908 pounds 49 pence recorded this time last year. Research from Chiltern also indicated that the cost of food shopping has surged by 12 per cent, while later this year council tax is to increase by four per cent to 1,373 pounds for the average band D property.

Following from increases in various living costs, it is also possible that people could find pressure on other demands on their finances increasing. Such consumers may develop more problems in paying off loans and plastic cards, as well as finding that they have less money to put into savings accounts and pensions schemes.

Britons worried about making repayments to various creditors and managing rising living costs might wish to consider getting a UK consolidation loan. In doing so, consumers can merge a number of debts into a single low-cost monthly repayment. This may be helpful for a significant number of consumers as a recent Combined Insurance study revealed that two-thirds of people witnessed an increase in the cost of their utility bills during 2006. Meanwhile, the cost of running a car and mortgage repayments have gone up by 12 and ten per cent respectively.

How To Get Approved For A No Fax Payday Loan

2008-01-30T02:03:00.000-08:00

In today's Jet Age, everything is available instantly; and so is a no fax payday loan! Who has the time today to wait for months after applying for a loan? And frankly speaking, there are times when you need the money immediately - you just can't afford to wait for months! Like, say for example, the only car you possess and use for commuting to your workplace breaks down; you need to get it repaired immediately right! But it can be difficult to arrange a large sum of money in the middle of the month. Even friends might not be able to help you out with an amount as large as $1000-$1500!

Your Emergency Fund

It is always advisable to set aside a few hundred bucks from your salary every month for emergency needs in future, but, if you haven't yet done that, you can borrow $300 to $1500, as an instant loan, against your next paycheck. The money will be recovered from you when you get your next salary, along with an interest of 15%-30% per two weeks. As such, you can say that a payday loan is a short-term loan.

It is actually good that this kind of cash advance is only given out for a short period of time, for two to four weeks generally, because the interest rates add up to a total of something like 390% on an annual basis! That's almost 4 times the amount of money you borrow! And you obviously don't want to pay that kind of money just as interest, right! An instant no faxing payday loan should be used only in emergency situations, where you can't get the money from anywhere else. And you must make it a point to clear off the money owed on time. Otherwise, it is very easy to fall into a vicious debt cycle!

How To Get A Cheap Payday Cash Advance?

1. Compare the rates and terms of various online lenders in the industry, checking for interest rates, processing fees, late payment charges and any other hidden costs. Also read user reviews about the companies.

2. Apply online for a payday loan, from the company you select, giving your personal and employment details.

3. Your instant approval no fax payday loan is processed within an hour and the money is deposited into your bank account within one day.

Repayment of it is done the day you get your next salary, either by a post-dated check or through direct withdrawal facilities.

A Guide To Reading And Understanding Your Credit Report

2008-01-29T02:03:00.001-08:00

In these days of identity theft, checking out your credit report is a good idea in order to make sure that everything on it is correct. However, once you have your copy in hand, you may be a bit puzzled as to how to decipher all those strange-looking abbreviations and numbers listed on the paper. Take heart - very few people understand how to read a credit report, especially if they are examining one for the very first time. All you need is a simple explanation of the wordage contained to intelligently zip through this information.

What's In My Credit Report?

You first need to be aware of how a credit report is laid out. These reports normally are divided into four segments of information. These are:

* Personal Information that identifies you, like your name and Social Security number, the date you were born, present and past addresses, phone number(s), who you work for, and the same information about your spouse.

* Public Information lists the data that has to do with your financial history which is available via public record. If you have filed for bankruptcy, had a tax lien, or any sort of monetary judgment against you, it will be listed in this section.

* Credit History Information is a listing of all the different accounts you have, such as with utility companies, retailers, banks, credit card companies, and other lenders.

* The Inquiries section is a list of anyone who may have asked to view your credit report. Inquiries are usually divided into two separate sections, hard and soft.

Most of this information is simple to understand. It's when you start to read the Credit History information that you may wind up with a headache! You'll see the following entries for each account that you may have:

* The date that you opened the account

* What type of credit (department store, car loan, student loan)

* Whose name the account is in

* Loan amount or credit limit

* The total amount you owe on the account

* The minimum monthly payment or fixed payment amount

* Whether the account is open, closed, inactive, or paid

* Your payment history - late, always on time, etc

Now comes the part that makes most people feel like screaming - all those codes! But, you'll never have to wonder what they mean again.

J - Joint

I - Individual

U - Undesignated

A - Authorized User

T - Terminated

M - Maker

C - Co-signor

B - On behalf of someone else

S - Shared

O - Open - the entire balance is due monthly

R - Revolving - Each month's payment amount can be different

I - Installment - The same amount is due each month

0- Approved account, but not yet used

1 - Paid as per agreement

2 - 30 days or more past due

3 - 60 days or more past due

4 - 90 days or more past due

5 - 120 days past due or sent for collection

7 - Making payments as per a special arrangement

8 - Repossession

9 - Charged off

Once you know how to read a credit report, it is simple to check it for mistakes in order to keep your credit standing in good shape.

How to Earn Money Fast and Easy

2008-01-29T02:02:00.000-08:00

Earning money fast and easy may happen sometime but not often.

Having the right tools to use when you need it can make a difference in you having it easily.

What you want

Knowing what you want is a good step for having goals in life.

Putting down on paper what you want helps redefine what you want in a more concrete way.

What beliefs do you subscribe to?

Beliefs play an important role in you having what you want, become aware of what beliefs that you carry with you.

When comes to getting money fast and easy you can see if your beliefs makes a difference in you having it now or later.

Perception of time

For some, many things take time especially when you keep looking at it each moment to see a change, and when you change your focus on something else and come back you notice the thing that you had let go of had change.

The more you notice it is moving fast you help to create this reality.

Leopard stripes

It is said that a leopard cannot hide its stripes; you cannot hide who you are.

In your nature if you believe in difficulty you will attract difficulty, if you believe in ease you will attract and act as if you have ease.

Becoming aware

Becoming aware of the type of individual you are and how you attract business or money in your life is where to start to pay attention.

The way you conduct yourself speaks volumes because with every action you are either moving toward pain or pleasure or avoiding.

Taking action

Once you learn about you, such as do you allow thing to come easy or do you have a tendency to work hard and struggle to get what you want.

You now have a choice to continue up the creek fighting against the current or using the current to bring you to what you want.

Preparation 90 %

Earning money fast and easy starts with a preparation of mind, emotion, and the ability to follow through.

Doing thing that you have never done before is what makes you break the pattern and be a leader in what you want to do and have.

As you prepare yourself to having money fast and easy it may ask of you to change the way you think and look at a problem.

Relying on you

As you align yourself mentally, emotionally and physically to earn money fast and easy you put this vibration out in the universe and with constant focus and believing you attract this to you.

Conclusion: Earn money fast and easy starts with the mind set of believing in you having it and taking the right actions to get it now.

ACPE Milestone Program debuts at 2003 Fall Institute in Tucson - Association of Certified Physician Executives News

2007-09-22T03:48:00.000-07:00

Expert faculty, timely and thought-provoking topics and a special segment emphasizing personal development define the Milestone Program that debuts at the Fall Institute, November 16-18, at the Westin La Paloma resort in Tucson, Ariz.

Here are some of the hot topics we'll discuss at this groundbreaking program:

Influencing Policy

Although ACPE is apolitical, our members should possess the skills to influence policies that affect their patients and their organizations. Influencing Policy and Policy Makers is a daylong seminar that will contradict almost everything your civics teacher taught you. Noted public policy consultant, Kim Ross, leads a faculty of elected officials and professional lobbyists.

The program will be both substantive and entertaining and covering topics from setting up a meeting with your legislator to the in's and out's of campaign donations and political fundraising. Get your point of view known and your opinions heard by learning to effectively convey the message.

Information Tchnology

An especially exciting segment of the Milestone Program is a discussion of how to Employ the Sweeping Advances in Information Technology. ACPE is reaming up with the IT thought leaders at Cap Gemini Ernst & Young to present a program on benefits and challenges of:

* CPOE

* Medical error reduction and patient safety
* The reality of a paperless medical office

* Bar coding for procedures, lab tests and pharmaceuticals

* Working in an e-health environment

Robert Williams, MD, and Brian Shea, PharmD, will talk about state-of-the-art medical information systems and share the best approaches for working with vendors--both before and after the sale.

Return to Profitability

Nearly every health care provider is struggling with financial viability. Lower reimbursement, higher operating costs and a very competitive environment are sapping the already depleted operating margins. In his keynote address, Brian Goodell, MD, from the Hunter Group, will tell Milestone participants how to Turn the Tide on Falling Operating Margins.

He'll examine why the transition from "business-as-usual" to financial crisis is seldom the result of a singular event or even a recent string of adverse events. Goodell will tell you the warning signs of financial peril and how to reduce the need for crisis management.

Also at the Milestone Program

Other notable sessions include:

Opportunities for Physicians in the Pharmaceutical Industry--led by Hans de Haan, MD, PhD, president of the American Academy of Pharmaceutical Physicians

A Clinical and Business Case for an Integrative Medicine Program--presented by Victoria Maizes, MD, of the Program in Integrative Medicine at the University of Arizona

Career Advancement Workshops--taught by industry experts and designed to give you the edge in this competitive job market. You'll learn interviewing skills, resume writing, contract negotiation and the best approaches for working with a headhunter.

UK Vehicle Loan - This Leads To Your New Car

2007-07-09T02:28:00.001-07:00

Now every citizen of UK can own a car with the help of UK vehicle loan. UK vehicle loan is implemented to advance finance to citizens of UK and enable them financially, so that they can purchase new and expensive cars. There are no hard and fast rules while purchasing cars, borrowers can also borrow money to purchase used car. Loans are offered and approved in the easiest way under UK vehicle loan, or lenders try to follow the less documentation process if possible.

If you are looking for external finance to purchase a car and unable to come out with reliable loan policies, then considering UK vehicle loan will provide you the necessary requirements with easy repayment terms. The citizens of UK can borrow finance by considering any form secured and unsecured UK vehicle loan. People who are property owners can easily borrow loan under the scheme of secured loan. Whereas, persons who are tenants and reluctant to pledge their property can opt for the unsecured form of UK vehicle loan.

For the benefit of your own, following few steps will indeed be helpful. Before applying for finance or loan, you should always value the car you intend to purchase and estimate the finance required. Such steps will help you to rationalize the monthly installment burden. After that, look for a lender in the competitive market who is ready to offer UK vehicle loan at discount rates and attractive offers. Moreover, it will not be totally helpful for you to rely entirely on sales person as they are more targets oriented.

The objectives of UK vehicle loan is committed to aid finance to people, and so to make it much more easier to obtain the loan, the rate of interest are tabled at affordable rates. But the fever of competition among lenders facilitates people to get UK vehicle loan at marginal rates, if you collect and compare them. The best way to collect the quotes is through the online device. You will find it hard to believe that UK vehicle loan can be approved within seconds. It is possible, only when you fill the online application form with your personal and credit details.

Garbage In - Garbage Out

2007-07-09T02:27:00.000-07:00

It has been said that we have left behind the Industrial Age and are now in the Information Age. How true that is. Thanks to the internet, we now have huge amounts of information, all available at the click of a mouse. A hundred years ago, people mainly had to contend with their neighbors popping around for a chat, bringing news with them. They had to decide if this was news or gossip. Then with the advent of the telephone, radio and television, all that was multiplied many times over. The internet has further compounded that problem.

I was chatting to my old granduncle the other day. He's 87 years old, largely homebound, but quite savvy on the computer. He used to spend his time surfing the web. He said he was back to reading books. I asked him why he was no longer interested in the web. There is so much there to read, I said. His reply ? The internet was either full of information that was no longer relevant, or just plain nonsense. I'll admit, I was a bit startled. I've since been spending more time surfing around, and I think what he says is true. Anyone and everyone is an expert in something nowadays. In the old days, you would get junk too. But usually, if you needed proper information or news about something, there were several reliable sources , where someone else may hopefully have reviewed the information first. For example, if you go to the library, the books it has have been reviewed by someone purchasing it. Certain newspapers are more known to provide reliable information than others. Medical journals are peer reviewed.

On the internet, sometimes, it is hard to differentiate real information from junk. An official looking website, someone who claims to be an authority, and suddenly, the opinion has become a fact. I found innumerable blogs with all kinds of opinions and facts on them, with no apparent regulator. There must be hundreds of websites all providing information. There was even one that proudly announced it was providing "non-news" ! The information on wikipedia can be adjusted by anyone and put up as fact. I read an article in a medical newsletter recently with some amusement and a little sadness. One author had written a spoof article and was quite surprised when he was later approached by people asking which journal the information was taken from and what he thought of the study ! He decided he had to explain that this subsequent article was also a spoof. I must say it was very well-written , with a fake journal cited, lots of figures, a complete discussion of the results etc. But I would have thought a study on the benefits of alcohol prescribed to patients post-operatively would have raised some suspicions. Little things like " We do not have approval from the Ethics Committee for this study. We didn't think we would get it, so we didn't bother to apply" would have tipped a few off !

So what about financial advice ? There's obviously good financial advice, and there is bad advice. The key to knowing which is which is financial education. If you don't know what to do with your money, many others will have lots of ideas. It is always best to be able to make an informed decision yourself.

Robert Kiyosaki pointed out, it is not the investment that is risky, it is an uninformed investor that is risky. David and Tom Gardner of the Motley Fool series also feel that you should manage your own investments. Be an educated consumer, they advise. Find out how your financial advisor gets paid. Does he get a commission for selling the product to you. How much ? What are his credentials ? What is his experience ? Robert Kiyosaki adds to ask your advisor whether he makes his money giving financial advice, or whether he is financially successful himself, and gets his income from elsewhere.

The Motley Fool also has suggestions on when to fire your advisor. Don't take advice from someone who insists he should be in charge of your finances. Be very careful of cold calls selling you life insurance or financial products. A good financial advisor should make you more money, not charge you money to make himself richer and you poorer.

It sounds like I'm against financial advisors. I'm not. As Robert Kiyosaki pointed out, he would prefer to drive a car himself as he is in control. But for someone who has no idea how to drive a car, it is much safer to let someone else drive it. But choose your driver carefully.

Just a few more comments on financial "information" brochures, or advertisements, as they are more accurately called. They are precisely that. Advertisements. The purpose is to get you to buy the products. Take time to find out who is getting richer - you, or the guy selling it. Learn to read the fine print. Risks and potential losses are never in bold large font right at the beginning. I've seen brochures which scream " get 20% returns !!", only to follow the little asterisk to read " returns are not guaranteed. May sustain losses on principal sum." Never buy what you don't understand. It doesn't mean you never buy anything! It means you take time to learn before you put your hard-earned money in.

Warren Buffett, possibly the greatest investor today, says he spends a lot more time reading and learning, than buying anything. And when he buys a stock or business, he's very confident of his choice. He puts in a large amount, and he holds it forever.

It may seem so much easier to just accept the first bit of information you get as gospel truth. But the price you pay for not taking a little time to be more critical of the information you get may be very high financially. Take time to think ! Today, we are being bombarded with information from all directions, from many sources. It's ironic that in this age where we have more information than we can handle, many people have forgotten how to think. Maybe that's why my 87 year old granduncle gave up on the internet, and has gone back to reading books !

Create A Prosperous Retirement By Harnessing The Power Of Compound Interest

2007-07-06T01:59:00.001-07:00

Do you have 30 to 40 years until you retire? If so the miracle of compound interest can be harnessed to ensure prosperity when you do. What is compound interest? Compound interest refers to the fact that whenever interest is calculated, it is based not only on the original principal, but also on any unpaid interest that has been added to the principal. The more frequently interest is compounded, the faster the balance grows.

A potent example of its power comes from a history lesson most of us learned as children. When the Dutch arrived in what is now New York City in 1626 they purchased the land that would become New York from Native Americans in an apparently one-sided transaction for $24. The transaction was in fact one-sided but not in the way most people think. If the Native Americans had placed that $24 in a bank earning 6% interest their original investment would have been worth over $10 billion as of 2005.

The key to putting this immense power to work is to start saving immediately. And no matter what your salary you must figure out a way to sock away at least 15 percent of your pre-tax income.

If you aren't saving any of your income stepping up to the plate and putting away 15 percent probably seems daunting. It doesn't have to be.

Instead of putting away 15% immediately, work up to that figure gradually. Set up an automatic withdrawal from your paycheck to be deposited in your 401(k). If your employer doesn't offer a 401(k) set up an IRA and have the money automatically deposited there. You can invest a maximum of $4,000 for an IRA and $15,000 for a 401(k) per year. You can also invest $4,000 annually in a Roth IRA alongside any other investments you make.

Start deducting 1% of your paycheck to be deposited in your account. You probably won't even notice the difference. Then next month up your allocation to 2% of your paycheck. Then in month 3, 3%, and so on. 15 months from now you'll be saving 15% of your salary and because you implemented the change gradually your spending habits will have changed to accommodate the savings automatically.

Next step is to decide what you want to do with the money your saving. If you're comfortable investing and dedicated to making your money work for you, you'll have plenty of ideas on how to do this.

For anyone who doesn't want to spend their time this way, luckily there is a nice alternative. Vanguard, Fidelity, and most other major mutual fund companies now offer a product often called lifecycle funds. Although the specific name for the funds will vary depending on the company.

Estimate when you'll want to retire 2030, 2035, 2040 etc... and the fund automatically reallocates your money to age appropriate investments. Typically this involves shifting money from equities to bonds as you get older and near retirement.

Based on the asset allocation of these funds and the historical returns of the asset classes they invest in you can expect an average return of about 9% during the life of your investment.

So a 25 year old earning $30,000 and saving $4,500 a year can expect to retire with $613,384 at 55 and $1,520,471 if he waits until 65. This example also illustrates how the longer you put compounding to work the more astonishing the result will be. By harnessing compounding the 25 year old in this example can retire a millionaire at 65 while never receiving a raise.

With a normal career path involving raises an individual would be able to rack up a much larger nest egg.

Skeptical about these figures. Then think of compound interest as a snowball. Because of the interest you receive during your first year of investing the second year you're already earning more interest than you earned the first year even though you're earning the same interest rate. The third year, you'll be earning more than the second year, and so on. Because your investments are compounding they are growing geometrically over time, similar to a snowball rolling down a hill and expanding at a faster and faster rate as it continues to roll.

The longer the ball rolls down the hill the bigger it becomes. That is why its important to start saving now so your ball has as much time to grow as possible before you want to retire.

Free Up 2,000 A Month - Easily

2007-07-06T01:58:00.001-07:00

Every Saturday night, I put on my bi-focal glasses and flip through grocery circulars during TV commercials. I find out which store has the best sales and match them with coupons if available. I stock pile meats and house goods on sale in our pantry or freezer. I spend $50 on stuff that used to cost me $200 a week. If shop weekly, I can free up $600 per month.

Every night after work, I ask myself, "Do you want to make $40 tonight in 1 hour?" If so, I cook dinner and pack lunch for my family. The groceries cost about $4. Going out to a decent dinner and lunch for two would cost more than $40. If cook 5 nights a week, I can free up $720 per month.

Once I read, "Don't be afraid to buy used clothes. Look at your closet, they are all used now." So, shopping at Goodwill becomes our family's weekend favorite. We found out that stores donate new clothes there, and many people give away top of the line clothing. We spend $15 for a wool coat with tag priced at $150. Following the principle weekly, I can free up $540 per month.

When we go to eat at restaurants, I flip through my Entertainment book to find buy-1-get-1-free coupons or whatever others available. We get to order the best entrees on the menu. If use 2 coupons per week, I can free up at least $140 per month.

Applying these examples, you can easily free up extra $2,000 per month. Ironically, how many investors would kill to create a monthly cash flow of $300? In Real Estate, we receive big checks for profit and write big checks for expenses. What if those two scenarios don't work together in your favor? Your daily spending habits can be your biggest friend - or enemy, you pick!

How to Save Real Money When Running the Family Car

2007-07-02T02:55:00.002-07:00

Your car will serve you well, and cost effectively, if you take the time to learn a few basic maintenance skills. Ready to start? Let's go.

There are many areas where you can save real money when running your car. Some of these are:
- Actual running expenses
- Minimizing serving costs
- Reducing the slide in value as it gets older

Let's look at each of these areas in turn.

Actual Running Expenses - save on day-to-day running costs

a) Go easy on the throttle and the brake pedals. If you anticipate the traffic and road conditions a little more, you can save fuel and brake pad wear. Don't be in such a hurry, go easy on the car controls.
b) Keep the tires at the correct pressure. If they look to be wearing unevenly, get them checked. Get a wheel alignment done at least once a year.
c) Shop around for the best fuel deal. Use coupons or dockets always.
d) When it's time for new tires, shop around. Don't be afraid to ask "What is your best price?" Compare prices and brands. Get to know the most suitable tire for your type of driving needs. Play off one retailer against another. The same goes for brake pads. Don't just accept any quote.

Minimizing Service Costs - keep these to a minimum

a) Learn to do your own oil change and greasing. This is not a very arduous job. I actually enjoy the time under the car. Changing the oil, oil filter and greasing only needs to take less than 1/2 an hour altogether, but can save you a substantial amount of money. Just be sure doing this does not void your warranty. You can also easily change the air filter saving you even more money.
b) Get to know the normal noises your car makes. If at any time these change, see if you can work where the noise is coming from. That way when you go to your mechanic you won't have to say "Just fix it", you will be able to offer some ideas as to the cause of the problem.
c) Keep an eye out for loss of any fluids. This is often a cause of large maintenance costs. Check regularly to ensure the radiator water level, engine oil level, brake fluid level, automatic gearbox oil level, power steering oil and/or clutch fluid levels are all close to, or at, the "full" mark.
d) Look at the garage floor. Has oil been dropped on it recently? Was it from the back or the front of the car? Don't let oil leaks go checked. Get them looked at right away.
e) If you choose to do your oil changes, shop around for the best price on good oil and filters.
f) If your car requires some specialized servicing or repair, shop around. Get competing quotes. Play off one repairer with another to get the best price.

Minimizing the Value Slide - get the most for your car when you sell

a) Keep the car clean inside and out.
b) Keep the car polished at least once a year. Twice a year is better. Use a good brand of polish
c) Use floor mats always. Keep them clean. Keep the carpets vacuumed regularly.
d) Keep a log book of all monies spent on the car and at what mileage/kilometers they were done. Keep the receipts. This will help you get the best price when you sell if prospective buyers can see you looked after the car well.
e) Use a good quality vinyl or leather protector on your dash, seats and door trims to save them from cracking and discoloration, as they get older.
f) Look for rust spots. These can occur around the windscreen, under the doors, in the door sills and other parts of the body. If you notice any, treat them immediately with a good brand rust killer. If you feel unqualified, get a specialist to fix it right away.
g) If you see stone chips, treat them right away. These can turn into rust spots if not cared for. You could either use a auto paint spray can of the same color or touch it up with a small paint brush and touch up paint.
h) The value of your car will be enhanced at sale time if you keep it as close to original condition as possible. Try to look after the car and keep it looking like it would have been when it was new.

These are just some ways you can minimize your car ownership costs and maximize the amount you receive when you go to sell the car.

7 Proven Steps to Fix Your Personal Finances That You Can Implement Right Now

2007-07-02T02:55:00.001-07:00

Fixing your personal finances is not rocket science. You can do it if you apply some commitment and are prepared to stick to the plan. Imagine how your world could open up if you were debt free. Imagine all the options. Quit your job, work fewer hours, have more holidays or just help others.

The proven methods listed below will work for you if you are determined to succeed and implement them in your own circumstances.

Step 1. Imagine how good life will be once the debt is paid.

Imagine for a minute how good life would be to if you were debt free. Think what you could do with the money you currently use to pay off those credits cards. You could use it to save for your future, save for your retirement, hit the sales with a clear conscience, go on holidays or save for your children's college education. Think on this often and visualize in your mind's eye how your life would change for the better once the debt was gone. If you seriously want this to happen to you it will be easier to follow the next steps.

Step 2. Do a budget.

Unless you know what your financial position is currently you won't know what targets to set, will you. Agreed? Good. The best, most simple way to do this is to set up a personal or family budget. A lot of people stop here and don't progress any further. Bad idea! This can be done very simply. Just follow the points listed below:

a) Get out your latest credit card statements. Add up all the unpaid balances.
b) If there are any other unpaid debts (not home or car) include these balances as well.
c) Calculate your (or family) monthly income - just the amount brought home each month.
d) Calculate your monthly spending. Work out where all the money goes. Don't leave any thing out.
e) Take the monthly spending total away from the monthly income total and review the answer.

Are you living beyond your means? Are you spending more than you earn each month? Are you putting any money aside for emergencies or saving to replace costly items such as the car or some major electrical appliances? Do you have any money left over to increase your monthly credit card payments? Set your self a goal of paying off your credit cards within a certain time.

The questions raised here can be addressed by putting Steps 3-7 into practice.

Step 3. Live within your means.

You can never get your finances under control if you continue to live beyond your means. The cost of living this way is the interest charged by the credit card provider. This is one of the major reasons you are suffering now. Commit yourself to live within your means. Once you have done the budget as outlined in Step 2 you can easily see what you have available to spend.

Step 4. Cut up your credit cards. (Well, maybe keep 1 for emergencies, if you have to.)

It is really important not to add more debt. Read that again. If you can live within your means, you can cut up your credit cards and focus on paying off the credit card balance as soon as possible. You may have items around the house that can be sold. Maybe a second car that is not a necessity. Sell these things and use the funds to pay down the credit card balances. Take on some extra hours at work, think of ways to earn extra income so that these extra funds can be applied to those credit card balances.

Step 5. Find bargains - have fun.

If this whole process becomes a drudgery then it will all become too hard and you won't keep going. Don't let this happen! Set some money aside so that you can, occasionally, buy those things you want. Learn how to only buy things you need and ensure they are at the cheapest price possible. Here are some hints that will help:

a) Look for sale items
b) Don't buy on impulse
c) Only use free cash funds to buy - not by credit card
d) Ask yourself "Do I really need this?" twice or three times before you hand over your hard-earned cash.
e) If there is something you really want - wait for it to go on sale.
f) Don't buy your items at the height of the fashion or the fad, wait a few weeks.

Step 6. Set aside a savings amount.

A target of 20% of your take-home salary is recommended. However, saving any of your salary is a good start. Set your goal and stick to it. The idea is to match your lifestyle to your income. Having some savings can help in emergencies, pay a larger deposit on your next car or be the beginnings of your holiday or retirement nest egg.

Step 7. Don't compare yourself with others.

Your task of living within your means will be made easier if you don't compare your lifestyle with others. You don't know, but their finances may be in a worse state than yours. If you want a better lifestyle, then save for it and/or work out ways to increase your income.

These are just the very beginning steps that you can take towards getting your finances in shape. With a little commitment and the right tools, you will succeed.

Free Product Samples of Stuff You Really Want will Stretch Your Budget

2007-06-28T03:44:00.000-07:00

I am sure that free samples and specials have been around since the first caveman tried to peddle his stone axes in exchange for bear hides or beer. Maybe Oog let his neighbor have one axe for free, and the tool proved so sturdy that soon his neighbor, and all of his neighbor's cousins, came back for more. After that, our talented caveman did not have to give away any more axes, but he benefited from taking a loss on his first few transactions.

Marketers and manufacturers know that consumers love to find a bargain. Its hard to make that first sale to a new customer, but once the shopper has been satisfied with one transaction, it will be much easier to count on that shopper's future loyalty. However, you may think of combing through magazines or newspapers to cut out coupons, or maybe getting little sample packs of shampoo or perfume in the aisle of your favorite store. That can be one way of collecting free samples, rebates, or discounts, but it is hit and miss, and may not be worth your time.

But now the internet makes it simple and convenient to find great offers for products you really want, and whenever you really want them! Many popular websites have been dedicated to posting free offers, coupons, and rebates online, and in periodic newsletters. Webmasters will affiliate themselves with marketing companies, and in return, they will have access to promotions as soon as they are made public. The offers will be posted on websites by category, and can usually be found with a quick search. Every webmaster wants to be the first to offer valuable, brand name products, and so they compete to keep their own websites updated with popular offers.

You may still think that searching for free samples, rebates, and coupons is a waste of time. But consider a sample of current offers that have been posted on our website and newsletter. I think that these offers have a broad appeal to men and women of many different ages.

One brand name beauty supplier offers large, two month product samples for free. You can select wrinkle cream, lip enhancer, and cellulite cream. All you have to pay is the low cost of shipping.

A major software company offers an instant, free download of office programs to promote their brand name. The office software suite includes a spreadsheet, word processor, and more, and it is totally compatible with the number one office software maker. You do not even have to enter any personal information. Simply download, install, and get productive!

One electronics store has discounted prices on some rebated computer accessories so that they end without cost. An online health store gives away bottles of HGH supplements so potential customers can have an opportunity to try them. An online jewelry store actually gives away a choice of sterling silver items.

Enjoy free sample, coupon, and rebate sites. You'll probably feel like a kid in a candy store! You may be able to grab a few luxuries, make yourself more productive, and even, stretch your budget! You could even find some great new products that you want to buy again, or a new favorite online store. Then you, and the advertiser, will be happy!

You may reprint this article as long as you keep the content and author bio intact.

Tips For Investing Your Small Savings

2007-06-28T03:43:00.000-07:00

I only have a limited amount of money (Dh3,000). Where can I invest it, and receive the highest return?

Many times we hear this million dollar question "When on earth do I start my savings plan?"

It means you want to start saving, and you'd like nothing more than to invest in funds, equities, shares and bonds that you hear so much about but all you have is a couple of dirhams.

Don't forget, take action: you have to start somewhere. The important issue is to employ some discipline from outset so the saving becomes a natural habit.

You will be surprised how quickly your funds will start to grow particularly with some careful financial planning.

Saving today with all the choices available can be much more satisfying and financially rewarding than it ever has been.

The Fastest Way to Pay Off Debt

2007-06-26T02:52:00.001-07:00

There is some debate among financial planners as to the best way to pay down debt. Some say paying the highest interest rate debt first is the best way; others say paying the smallest balance first is the best way.

Both methods have advantages and disadvantages, so we'll take a look at both, and help you decide which method is best for you.

Method #1 - Highest Interest Rate

In this method, you focus on paying off your highest interest rate debts first. The basic steps in this method include:

1. List all debts in order from the highest interest rate to the lowest interest rate.
2. Commit to paying the minimum payment on every debt.
3. Determine how much extra can be applied to the highest interest rate debt.
4. Pay the minimum amount plus the extra amount towards the debt with the highest interest rate until it is paid off.
5. When that debt is paid off, apply the amount you were paying to the debt that is paid off to the next highest interest rate debt until paid off.
6. Repeat until all debts are paid in full.

This method is the best method mathematically, as you will pay less interest in the long run.

Method #2 - Lowest Balance

In this method, your focus is on the debt with the lowest balance. Note: this method was made popular by Dave Ramsey and is often called the Debt Snowball method.

The basic steps in this method include:

1. List all debts in order from the smallest balance to the largest balance.
2. Commit to paying the minimum payment on every debt.
3. Determine how much extra can be applied to the smallest balance debt.
4. Pay the minimum amount plus the extra amount towards the debt with the smallest balance until it is paid off.
5. When that debt is paid off, apply the amount you were paying to the debt that is paid off to the next smallest balance debt until paid off.
6. Repeat until all debts are paid in full.

This method may not be the best method mathematically, as you will pay more interest in the long run. However, this method allows you to pay smaller debts off faster, which may give you the motivation you need to stick to your debt payment plan.

So, which method is best for you? It depends…

Method #1 is best for you if:

* You have debts with similar balances
* You have discipline to stick to your debt repayment plan * You are a numbers person, and you realize the benefit of paying off the highest interest rate debt first

Method #2 may be best for you if:

* Your debts do not have similar balances - i.e., you have a $500 credit card balance, a $12,000 credit card balance, and several in between
* You need motivation - paying off the smallest credit card balance may be the motivation you need to stick to your debt repayment plan
* You don't mind paying more interest over the long run in exchange for getting rid of smaller balances first

Tip: Why not use a combination of the two methods? Using a combination of both methods allows you to feel a sense of accomplishment by paying off that first debt (the smallest balance credit card), and gives you the motivation to start working on the next debt (the debt with the highest interest rate).

Remember, the method that works best for you is the one you will actually use. The most important thing is to make a plan and stick to it so you can live debt free.

Comparing Airline Rewards Credit Cards

2007-06-26T02:51:00.001-07:00

Airline Miles Reward Credit Cards

Everyone likes the idea of free airline miles. It is an attractive idea to get free travel just from using one credit card instead of another.

Credit cards are now as good as actual cash. Many people prefer charging their purchases on cards instead of bringing along cash when they go to stores for security reasons.

Almost all people who are eligible, having good jobs and able to pay, are owning credit cards. Furthermore, credit card issuers are underpinning the robust trend and are constantly launching initiatives to further lure consumers into getting cards and purchasing using the plastic items.

Amid all the strategies to boost credit card transactions, many credit card firms are starting to hit the bull's eye so they can significantly increase the volume of credit card account holders and transactions.

Of course, the move is aimed at earning more. Whenever customers use their credit cards for any transactions, whether for merchandise purchases or bill payments, it is logical that the credit card issuers generate profits because interest rates and charges apply to credit cards.

Now, credit card companies are ramping up their offers to reward credit card users by offering subsidies to their travel fares. Yes, because many people basically like traveling through airlines, credit card firms are targeting that interest to be able to convince more clients into opening credit card accounts or use the cards for transactions.

Credit cards' reward systems

To be able to lure more clients and boost revenues, credit card issuers are all offering programs that would reward customers for frequently using credit cards.

The reward systems for credit card transactions are so popular that almost all minor and major credit card firms are offering them. After several years of offering the programs, it has been proven that the strategy really works.

According to studies, many credit card holders are now more motivated to pay bills and pay purchases using credit cards just to earn reward points that would lead to lucrative incentives when accumulated.

From discounts to freebies, credit card rewards are offering more. Airline miles reward programs are now among the most popular promotions being introduced to the market.

Airline miles rewards

Airline miles rewards programs work just the same as the regular reward system offered by almost all credit card firms.

The program works by convincing consumers to increase their spending and transactions using the credit cards. In return, for each transaction, certain points are earned.

When the points accumulate, they could be equivalent to as much as one-way air travel for free! The strategy has been effective as consumers consider the current high air fare amid expensive fuel costs.

It is also interesting to note that some customers even purchase goods they don't really need and even convince friends and relatives to use their credit cards just so they could earn points.

But as an analytical consumer, would you care to know if the airline miles rewards programs are really worth it?

Airline-sponsored vs. bank sponsored credit cards

There are two major types of credit card products out in the market today. This grouping is in terms of airline miles reward programs. They are the airline-sponsored and the bank-sponsored credit cards.

Airline-sponsored credit cards are those that are issued by a particular airline. When you use the card, the points you earn will be used for your future air fare in that carrier.

Bank-sponsored credit cards are seen as more flexible by more consumers. That is because the reward points accumulated using the card can be used in many other airlines rather than only in one, as the case in airline-sponsored credit cards.

Many credit card holders in that sense see bank-sponsored credit cards' air miles rewards programs as more beneficial and attractive.

Special charges on credit cards under airline reward systems

An in-depth industry study over these rewards programs has found that these credit cards usually charge more compared to the regular credit cards, which are not enrolled through the incentive system.

Take note that credit cards with airline rewards require annual fees that are usually waived on regular credit card products. In some instances, interest rates on airline-reward cards are higher in comparison to the regular cards' rates.

These findings underscore the tactic at how credit card issuers are desperately doing all they could do just to boost transaction volumes and credit card holders' numbers.

In the end, an analysis of the situation will surely lead you to conclude that the reward programs are actually funded by yourself.

Though, at the first glimpse, the offers are good deals, it is recommended that you analyze the situation, the terms and the conditions of the reward systems before finally enrolling into those special lines of credit cards.

7 Simple Strategies to Teach Your Kids About Money

2007-06-22T02:56:00.001-07:00

With all of the issues related to money that young adults face today, it's more important than ever to raise money smart kids. However, if you are like many parents, you may be a little baffled about where to start and what to do. Here are 7 simple strategies to get you started:

1. Talk to your kids about money. It may not always be comfortable to talk to your kids about money but it is important. Take advantage of opportunities as they arise in everyday life to discuss how you make money decisions and then set aside a specific time each week or at least monthly for more in depth family discussions.

2. Start money lessons early. Kids can generally understand basic money concepts like spending, saving and earning as soon as they learn to count, around age 4 or 5. Once they are in school, they are ready for more complex concepts like borrowing (debt) and investing.

3. Encourage your kids to set money goals. Teach them the elements of goal setting using the 5-step ‘SMART’ system: (1) be specific or pin point exactly what you are going after; (2) make goals measurable so you can track your progress; (3) make them achievable so success is possible; (4) record or write them down along with the steps to be successful and read them every day to keep moving forward; and, (5) set a time frame to complete them so they don’t become ‘someday’ goals that may or may not happen.

4. Teach your kids how to spend. This may sound a little strange but kids need to understand how to make buying decisions. Use everyday occurrences like going to the grocery store so they can begin to understand what things cost and why you choose one brand over another. Read sales papers and plan purchases based on the ads. Talk to them about quality, price, sales and bargains, and show them the steps you go through to make buying decisions for large purchases like appliances and cars.

5. Provide structure for your kids to grow their skills. Make it easy for them to develop budgets and save money on a consistent basis. Help them set up their own accounts and keep records, or you become the banker, providing everything from checking to savings and loans with interest. Also, give them their allowance in denominations that encourage them not spend it all in one place. For example, if you give your kids a $5 allowance, give it to them in $1 bills so that they can easily divide it into different categories like saving, spending and charity.

6. Give your kids the opportunity to test their skills. I know this can be difficult to do watch, but kids need to exercise their money muscles. They need to learn to make choices and to deal with the consequences if they make mistakes. Remember, you may not really be helping them in the long run if you constantly bail them out, so unless it is an urgent situation, let them deal with it.

Free Personal Budgeting Tips

2007-06-22T02:55:00.001-07:00

Are you in need of a personal budget? Well, join the crowd because many people today could use a little help in that area. Here are a few free personal budgeting tips that may be able to help you out.

Analyze Your Situation

The first and biggest thing you have to do when trying to create a personal budget is analyze your situation and be truthful about what your income and expenses really are. This may seem like a no brainer but many people that set out to create a budget for themselves fail before they even begin by not being one hundred percent honest with themselves. Some people may think that their smaller credit cards are not that big of a deal so they tend to leave smaller credit card payments out of their budget. This is a mistake. When creating a budget you want to make sure that each and every little expense has been accounted for.

Budget for Fun Events

A good budget will even have room for fun events. Some people don't include fun things like going out to clubs in their budgets. This can lead to money missing at the end of the month. Guys, make sure you budget that trip to the driving range and ladies, don't forget to include getting your nails done in your budget. It may sound a bit too strict but to become good at budgeting you have to keep track of your spending habits. Once this is done, you should be able to see areas where you can get better at spending your money.

Budget for the Unexpected

The biggest mistake that people make is not budgeting in miscellaneous cost. If your like most people, there is always going to be some sort of miscellaneous expense that shows up every month no matter how much you stick to your budget. There is always someone's birthday or someone getting married or maybe just something that goes wrong with your car that you didn't plan for. Make sure that you always plan for the unexpected.

Hopefully you enjoyed these free personal budgeting tips. Budgeting can be as easy or as hard as you make it. Just be sure to be honest with what your situation is and make sure to save room for unexpected events. You will be able to better track your spending habits and see where certain areas may be able to be improved.

Following Good Financial Advice Rescued a Dentist's Dream

2007-06-18T22:24:00.000-07:00

“I’ve dreamed of being a dentist as long as I can remember” said Denise Mills, DDS. And so she built a thriving dental practice in Scottsdale by literally “pounding the pavement”. It was hard work, but it paid off. She loved the freedom and security of owning her own business. But slowly that all changed, putting her financial future in jeopardy.

Dr. Mills began noticing pain in her hands. At first she thought she’d be fine, but the pain became unbearable, and she sought help. Just to lift the dental tools caused tremendous agony. She went through many treatments but the pain increased to the point where even being touched on the hand made her want to scream. And after 2/12 years of pain the doctors said that there was nothing else they could do.

Denise was stunned. She had spent almost 30 years doing what she loved, and now it was gone.

She was worried… about her business.. her family…and about what she was going to do next.

Fortunately Dr. Mills had followed some wise counsel and she realized that she was going to be okay. Her business overhead insurance policy has helped her to keep her business running, paying things like utilities and rent and has allowed her to hire another dentist to take care of her patients. Her disability income insurance policy benefits has helped supplement the income she used to receive as a dentist, so that she can continue to take care of her family.

Dr. Mills still has pain in her hands, but she’s not worried because the insurance has allowed her to continue to do what she loves, just in a different way. Early last year she founded Progressive Dental Academy, a dental assisting school in Scottsdale. So now, she is helping people find their “dream career” in the rewarding field of dentistry.

Credit Cards and Credit Scores

2007-06-18T22:22:00.000-07:00

Credit cards and credit scores are a delicate recipe; too much or too little of the ingredients could spoil the dish. Having worked in the mortgage industry for years I have seen almost every credit score and scenario imaginable and credit cards play a large role determining the scores. On one hand they can improve your credit and over all credit “worthiness” and on the other hand they can do just the opposite. Finding the right combination and wisely managing your credit cards is key to improving and maintaining a good credit standing.

Almost everyone knows that too much credit card debt is bad and this may have a negative effect on your credit. What you may not know is how the credit reporting agencies determine who has” too much” debt and who doesn’t. After all, credit bureaus are not aware how much people earn only how much they owe. The main criteria they use to judge excessive debt is a term called the “credit to balance ratio”. Meaning if you have one credit card with a $5000 credit limit and your balance is $4500 this ratio is high and will begin to affect your credit score negatively.

Once your balance on your credit card rises exceeds 35% of your credit limit ($1750 for our example) the credit bureaus interpret this as having too much revolving debt. The higher this ratio is the more adversely it affects your credit score. I do not advocate that you fill an excessive number of credit card applications; this can be detrimental to your credit scores. However, in a pinch, I have had clients use a balance transfer credit card to shuffle balances between cards to lower this ratio and improve their credit scores. If you have a lot of credit cards, within reason, this will not lower your credit score. Having high balances just one or more credit cards will drop your credit score severely.

Showing credit restraint and depth is one of the best ways to improve your credit scores. Meaning, if you have available credit lines and leave them “untapped” this will have a very positive result to your credit score and over all credit profile.. For this reason, I recommend to my clients not to close accounts that they have paid in full, unless the cards charge an annual fee. Be careful though, the temptation is too great for a lot of people to keep a ready access to credit, yours truly included. If you don’t trust yourself with the credit card you can always shred it and keep the account open. My grandmother used to freeze her credit cards in a large glass of water to prevent ready access to them. Of coarse this was before she had a microwave.

Uk Capital Gains Tax - What You Need To Know To Avoid It!

2007-06-12T04:34:00.000-07:00

What is CGT?

Capital gains tax ('CGT') is the tax that you pay when you sell an asset. So if you sell property, or an investment you'll need to consider CGT. In fact anything that you don't hold for the purposes of a trade (ie that you've not bought to sell) will be within the scope of CGT.

Any gain that you make is then taxed depending on the rate of income tax that you pay. So if you're a 40% taxpayer you'll pay CGT on the gain at 40%. If you are a basic rate taxpayer you'll pay CGT at 20% on the gain within your remaining basic rate tax band, and 40% on the excess.

OK – this is pretty straightforward, but based on the above the scope of CGT is huge! (as it covers any objects that you didn't purchase to sell on). Well, this is correct it does have a very wide scope but the interesting bit is that there are lots of exemptions that take assets out of the scope of CGT. We'll have a quick look at these so you can see what you can sell without having to account for CGT.

The exemptions from Capital Gains Tax

Your own Home

As most of you will probably know, an investment in your own home is free of capital gains tax, (and income tax as well for that matter).

Chattels which are wasting assets

There is a blanket capital gains tax exemption for 'tangible moveable property' that is also classed as a wasting asset.

In general terms if an asset has a predictable life of less than fifty years it is exempt from capital gains tax. An item of machinery is regarded as having a predictable life of less than fifty years and therefore they will usually be a wasting asset.

Therefore many assets that have an element of machinery should in principle be exempt (for example antique clocks and watches)

Gambling winnings

Anything you make from Gambling is received totally tax free. So there's no capital gains tax, and there will not also be any income tax or national insurance due

Personal compensation or damages

Most forms of compensation will be exempt from capital gains tax

Motor cars

There is a capital gains tax exemption for 'normal motor cars'

Debts

There is an exemption under capital gains tax for a disposal of a debt by the original creditor

Chattels worth less than £6,000

Even if you have tangible moveable property that does not qualify as 'wasting' assets there should be a capital gains tax exemption available if the proceeds are under £6,000.

Get Rid Of Debts Through Bad Debt Personal Loans

2007-06-12T04:33:00.001-07:00

If you have debts which are now beyond you repaying capacity and are proving to be a huge stress on your limited finances, then surely you would like to pay some of these debts. You can use bad debt personal loans for clearing these debts. But what is of more advantage is that a bad debt borrower gets the loan easily as bad debt personal loans are meant especially for such debtors. Apart from paying off debts, you can utilize the loan amount for home improvements, buying car or wedding and holidaying.

As per your requirements and repaying convenience, bad debt personal loans are approved as secured or unsecured loans. On offering any of your valuable property like home, secured bad debt personal loans come at lower interest rate. But you should be having a good record of repaying past loans. Bad debt does not mean that you did not pay loans but it means that because of high rate on debts it is becoming harder to repay them now. So bad debt personal loans are an opportunity for replacing high rate debts with the new low rate loan. Secured bad debt personal loans can be repaid in larger duration of up to 25 years which enables in easily repaying the loan.

If you have smaller debts to repay, then you have the option of unsecured bad debt personal loans. You are approved smaller loan of up to £25000 for shorter repaying duration of 5 to 15 years. Interest rate will be higher. And if your credit score is lower, still bad credit personal loans are approved if you can convince the lender that the loan will be paid back in timely manner. Take a loan repayment plan to the lender showing your income to the lender.

Bad debt personal loans can be sourced from banks, financial companies or online lenders. For cost free processing and timely approval, prefer applying to online lenders.

Offshore Tax

2007-06-07T03:09:00.000-07:00

'Moving offshore' is a common tax planning strategy that you've probably seen mentioned in thrillers or seen in Hollywood films – but how applicable is it the average man in the street?

Well you'll be pleased to know that the UK offers some of the best offshore tax rules in Europe and is much more attractive than the United States. Under the UK rules once you establish yourself as 'non UK resident' for tax purposes your tax ties to the UK are pretty much severed. Of course there are still occasions when the UK taxman will look for his share of the 'tax take' but as a general rule these are pretty few and far between.

One of the best aspects of the UK tax system, unlike the many European countries (eg Spain and France) is that you can leave the UK and sell UK assets totally free of UK capital gains tax ('CGT'). This means that anyone owning property, investments or even a company can leave the UK and sell up without paying any UK tax. This is unusual as many countries take the view that as the gain has effectively arose over the period you've lived in the UK they want to retain taxing right. Not the UK though.

Of course if you were planning to do this there are a number of conditions you'd need to satisfy but if the tax at stake is significant they're usually not too onerous. The other issue of course with any form of offshore tax planning is finding out what the offshore tax position is overseas. The last thing you want is to 'jump put of the frying pan and into the fire'. This is a big risk for company owners who would usually be entitled to significant tax reliefs in the UK which could reduce their effective tax rate to just 10%. If they go overseas and don't look into it carefully they could end up paying more tax!

There are though a number of 'tax free' havens as well as 'low tax' havens that aren't even too far from the UK.

Countries such as Monaco and Andorra are effectively tax free for many UK expats.

In terms of low tax havens – take your pick as there are plenty! Examples include:

* Malta
* Isle of Man
* Channel Islands
* Cyprus
* Gibraltar

If you weren't bothered about going further afield you could also consider countries such as Dubai, Hong Kong, Singapore, Bahamas, Bermuda, Cayman Islands and the British Virgin Islands which can all eliminate or significantly reduce your taxes.

So what's involved in actually 'going offshore'?

Well, at it's simplest you could just sell up and live overseas…end of story! If you wanted to make a clean break with the UK this is basically what you'd do. Of course there are a few forms to fill in and you'd need to be careful as to when you sold assets but in tax terms it's actually very straightforward.

If like many expats you want to keep a 'foot in the door' in the UK, and still have UK links (such as a UK property, investments, close family etc) it's not quite as straightforward. There are time limits published by the Revenue that you'll need to observe for periods spent in the UK (generally less than 90 days on average over four years and not more than 183 days in any one tax year) but you'll also need to show that you've established a new home overseas and that there are few 'ongoing connections' with the UK. This isn't too difficult but will involve a bit more consideration of your position and UK assets/involvements.

Different Methods Of Borrowing Money

2007-06-07T03:03:00.000-07:00

Second Mortgages

A second mortgage is one that is created when the borrower offers the property for a second time as security while the first lender still has a mortgage secured on the property. The new lender takes a second charge on the property, the original lender retains the deeds and his charge take precedence over subsequent charges. This means that, in the even of a sale de to default, the original lenders claim will first be met in full (if possible) and if sufficient surplus then remains, the second mortgagee's charge comes into play.

Lenders will, of course, only offer a second mortgage if there is sufficient equity in the property, and, since second mortgages represent a higher risk to lenders, they are likely to be offered at higher rates of interest than first mortgage.

Unsecured Loans

In contrast to secured loans, and unsecured loan relies on the personal promise, or covenant, of the borrower to repay. Unsecured loans are therefore generally higher risk than secured lending, with the consequence that they are subject to higher rates of interest and are normally available only for much shorter terms. For example, whereas mortgages, or loans secured on a property are available for up to 40 years, personal loans are rarely offered much more that six or seven years.

Unsecured loans have long been available from banks and finance houses, but it was not until the passing of the building societies act 1986 that building societies were able to move into that area of business. Initially they were restricted to no more than 5% of their commercial assets being in the form of unsecured loans, although this has since been increased to 15%.

Unsecured personal lending takes a number of forms, the most common of which are described below.

Personal Loans

These are offered by banks, building societies and by some finance houses. They are normally for a short term of one to five years, and the interest rate is generally fixed at the outset and remains unchanged throughout the term. Many of the larger lenders operate a centralised assessment of loan applications through telephone call-centres, using a form of credit scoring to assess the suitability of the borrower.

The loan can be used for any purpose y the customer, typically they are used to purchase cars, fund holidays, or consolidate existing higher cost borrowings such as credit card balances.

The purpose of the loan determines whether it is regulated under the terms of the consumer credit act 1974. Most such loans of £25,000 or less are regulated by the act unless they are for house purchase or home improvement.

Overdrafts

An overdraft is a current account facility, offered by all retail banks and some building societies, which enables the customer to continue to use the account in the normal way even though its funds have been exhausted. The bank sets a limit to the amount by which the account can be overdrawn. An overdraft is a convenient form of short-term temporary borrowing, with interest calculated on a daily basis, and its purpose is to assist the customer over a period in which expenditure exceeds income - for instance, to pay for a holiday or to fund the purchase of christmas gifts.

Because it is essentially a short-term facility, the agreement is usually a fixed period, after which it must be renegotiated or the funds repaid. Overdrafts that have been agreed in advanced with the institution are normally an inexpensive for of borrowing, although there may be an arrangement fee. Unauthorised overdrafts, on the other hand, attract a much higher rate of interest.

Revolving Credit

This refers to arrangements where the customer can continue to borrow further amounts while still repaying existing debt. There is usually a maximum limit on the amount that can be outstanding, and also a minimum amount to be repaid on a regular basis.

The most common way of providing revolving credit is through credit cards, although some institutions do provide revolving personal loans that allow the borrower to draw down funds as the origional debt is repaid.

It is hard to believe that plastic cards, now an integral part of most people's financial affairs, have been around for the last 30 years. Their development and their impact have gone hand-in-hand with the rapid advance of the electronic processing technologies on which their systems now largely depend. Many cards can now hold a wealth of information about cardholders and their accounts, and can therefore interact directly with retailers and banks electronic equipment, these cards are often referred to as smart cards.

Credit Cards

Credit cards enable customers to shop without cash or cheques in any establishment that is a member of the credit card companies scheme.

Originally all credit card transactions were dealt with manually at the point of sale, but most retailers now have terminals linked directly to the credit card companies computers, enabling on-line credit limit checking and authorisation of transactions.

As well as providing cash-free purchasing convenience, credit cards are a source of revolving credit. The customer has a credit limit and can use the car for purchases or other transactions up to that amount, provided that at least a specified minimum amount (usually 3% of the outstanding balance) is repaid each month. The customer receives a monthly statement, detailing recent transactions and showing the outstanding balance. If the balance is repaid in full within a certain period (usually 25 days or so), no interest is charges, if a smaller amount is paid, the remainder is carried forward and interest charges at the companies current rate.

Credit cards are an expensive way to borrow, with rates of interest considerably higher than most other lending products. There is also normally a charge if the card is used to obtain cash either over the counter or from an automated teller machine (ATM), or if the card is used overseas.

Credit card companies charge a fee to the retailers for their service. This is usually as a percentage (typically around 3%) of the value of transactions when the credit card company makes a settlement to the retailer. There are, however, a number of advantages to retailers, in addition to the fact that more customers may be attracted if payment by credit card is available. For instance, payment is guaranteed if the card has been accepted in accordance with the credit card companies rules. Furthermore, the retailer can reduce his or her own bank charges because the credit card vouchers paid into the bank account are treated as cash.

Two other types of cards are mentioned below for completeness, although they do not offer credit facilities (except in a very limited sense in the case of charge cards).

Charge Cards

Although used by the customer in the same way as a credit card to make purchases, the outstanding balance on a charge card must be paid in full each month. The best known examples are american express and diners club.

Debit Cards

An innovation introduced in the late 1980's, debit cards enable cardholders to make payments for goods by presenting the card and signing a voucher, in just the same way as with credit cards or charge cards. In the case of debit cards, however, the effect of the transaction is that funds equal to the amount spent are transferred electronically from the cardholder's current account to the account of the retailer. Debit cards can also be used to withdraw money from ATM's, and many debit cards now also act as a cheque guarantee card.

It's the Thought that Counts!

2007-05-25T03:46:00.002-07:00

Each May we take time to honor and celebrate the women who give us so much; our mothers. It is easy to be tempted into spending money on overpriced gifts and novelties that have been priced higher in light of the holiday, but many of us cannot afford to break the bank. Use these tips to show your Mom how much you love her without depleting your checking or savings:

Give Mom Plants and Flowers:

Buying flowers for your mother doesn’t have to mean paying $50 for a dozen roses. Consider buying flower bulbs or seed packets and planting a flower garden for your mom. Using annual or perennial flowers might be an extra special idea since she can look forward to flower blossoms every year.

Give Mom Family Photos and Collages:

With digital cameras and one-hour photo, printing high quality photos is easier and more inexpensive than ever. Gather some of Mom’s favorite photos, make copies, and design a collage for Mother’s Day. You might also choose to find your best picture of each member of your family and combine them into a single frame of your whole family. Creative photos and frames can be priceless gifts that Mom will cherish for years.

Give Mom a Day Off:

Give Mom a break this Mother’s Day by taking on her chores and spring cleaning projects. Take charge of whatever household jobs she does on a daily basis, and let her sit back and relax. Has your mother been hoping to have the laundry done, the yard raked, the ceiling painted, or the carpet cleaned? Take the initiative to complete the projects Mom needs around the house and she’ll truly be thankful for your gift.

Give Mom a Mother’s Day Dinner:

Mother’s Day isn’t only about flowers, Sunday brunch, and gifts. Take some time to plan out a family dinner that you can organize, cook, and serve. Find out your mother’s favorite dishes and prepare them yourself. Light a few candles, pour Mom a glass of her favorite wine and give her a dinner that came straight from the heart.

Personal Loans: The All Purpose Loans

2007-05-25T03:46:00.001-07:00

To secure a loan that can suffice to your personal needs, there is no need to go far anymore. They are available to you sitting in the privacy of your home or office. These loans are called personal loans. Personal loans can act as a major help in maintaining self sufficiency in times of any financial crisis.

Securing a personal loan is not very difficult anymore. An application for the personal loan can be requested online along with the necessary information that is required. This application will fetch quotes from numerous lenders. Out of these quotes, the best offer that suits the borrower relating to the annual percentage rate plus the terms and conditions can be chosen. Annual percentage rate is the sum of interest rate plus the overhead expenses involved in the deal. Approval of the personal loans is also very fast.

Personal loans can be borrowed for many purposes like:
• Debt consolidation
• Home improvement
• Wedding purpose
• Funding college education
• Auto loan
• Holidaying

There are two ways of obtaining a secured loan. The first way is the secured way in which collateral has to be pledged as security. Rate of interest offered is very low with a longer repayment term. Unsecured personal loan is the other way in which no collateral is required to be pledged for the money.

Obtaining a personal loan is easy even if you have a bad credit history. Defaults, arrears, CCJs, a bad credit score have discontinued impeding you from getting a personal loan. Convincing the lender about good repayment capacity, a regular employment can help in getting personal loans at feasible rates.

Personal loans have now become a big support to people in the hard times as they can be borrowed according to the need. The repayment of the personal loan is also very comfortable. This makes it a favourite choice of the borrowers.

What a Financial Planner Should Do For You

2007-05-25T03:45:00.001-07:00

When you are ready to get serious about your finances, it is time to get a financial planner. That is great and all, but what should a financial planner do for you?

Life is busy. It is simply amazing. The more gadgets that come out that are supposed to make our life easier, the busier we seem to get. Throw in a career and a family, and down time is sparse. This is where a good financial planner comes in.

The world of financial planning is a complex one. In this case, there are so many different strategies and financial products out there, it is difficult to know where to begin much less what exactly to do. I mean, who has time to research it all? Well, a financial planner. All this professional does all day is deal with planning, and you can use their expertise to your benefit.

A quality financial planner should do some very important things for you. Let’s take a closer look.

The first service they should provide you with is objectivity. When each of us looks at our finances, we tend to place too much importance on the positives. In turn, we discount many of our problems. A financial planner should objectively review and lay out the frank facts on where you stand, potential problems and solutions. This step alone makes them worthwhile.

The second service is a symbiotic combination of two things. The planner should help you identify your financial goals and then they should provide you with strategies for meeting them. This sounds simple, but most people have no real idea of what their goals are. If you don’t know your goals, how can you possible meet them?

Identifying your financial goals is a critical step, but not the only one. Once the goals are clear, a quality financial planner is going to gently force you to prioritize them. Yes, everyone wants to buy a boat at some point. If you have kids, however, the planner might suggest that saving up for the $100,000 to $150,000 cost of sending them to college might be a better priority.

If you are married, a financial planner may be needed to bring an objective voice to the financial planning process. You and your spouse may have very different ideas about the goals you should have and how to prioritize them. A planner is often critical to getting both spouses to agree to a particular plan. Alternatively, the financial planner can come up with a unique approach that makes everyone happy. This is almost always a more successful approach than just letting the spouses battle it out.

At the end of the day, a good financial planner should be like a family friend. They should help you get organized on your finances in such a way that you can both identify and realize your ultimate goals.

Do You Need A Financial Planner?

2007-05-25T03:44:00.000-07:00

At some point in your life, you are going to start thinking seriously about financial planning. When you do, the question of whether you need professional help should come to mind.

It happens to everyone. Something comes up that makes you realize you need to get a financial plan. The event can be something as benign as making good money one year and nearly fainting when you get the tax bill. For many people, it is the birth of a child. Suddenly, you are no longer responsible just for yourself. You have a much more important responsibility for the welfare of your child. Somewhere, you dad is snickering!

Whatever the triggering event, the realization you need to do some financial planning is a good thing. The sooner you do it, the more benefit you will receive. Most financial planning is time sensitive. The longer it is in place, the bigger impact it will have. For instance, the sooner you start stuffing money into retirement plans, the more time it will have to grow before you need it. The same goes for sticking money into a college savings plan.

Once you decide to do financial planning, you should really get some professional help. Jumping into financial planning without it can lead to some serious mistakes. If you need a financial planner, however, how do you find a quality professional?

The first step is to ask around to friends and families. Don’t just look for any old referral. You want somebody they are enthusiastic about. If they have a ho hum opinion of their planner, that should be a bad sign. At this point, your best option is to jump on the net and look for planners in your area. Pay close attention to what is on their site. Do they offer a lot of free information? If so, does it carry the tone that you are comfortable with? Pick out three or four and set up appointments. It is time for the face-to-face.

When you meet with a prospective financial planner, there are a number of things to look for. First, how aggressive are they with you. Keep a nose out for the smell of desperation. Quality financial planners already have a sold portfolio of clients. As a result, they are more than happy to sit and calmly talk with you regarding your situation. A person that is promising incredible results or very aggressive, is a planner that probably is not what you are after.

When discussing your situation with the planner, pay attention to the questions they ask. Are they trying to get a full picture of your life or just trying to sell you something? A quality financial planner is not looking at you as a client now. Instead, they are looking for a long-term relationship. If you are uncomfortable in any way with the person in question, move on to the next planner on your list.

The Government to Allow Easy Access to Individual Voluntary Arrangements (IVA)

2007-05-25T03:43:00.000-07:00

The Government has made it clear that it soon hopes to allow easier access to Individual Voluntary Arrangements (IVA), today's number one and fastest growing alternative to insolvency. This plan for an easier to obtain IVA should be in effect within the year according to the latest reports.

The changes hope to make a law that requires only 51% of the lenders who are owed debt to give approval for an IVA. Currently, 75% of the lenders for one's debts must approve for an IVA. This 51% rate would only apply on debts below £75,000. This new plan would also make it quicker to file an application for an IVA and involve less paperwork.

In an IVA, the lenders erase part of the money owed and the creditors must make a fixed agreeable monthly payment every month for a given time.

Charles Howson, the chief executive of Accuma, a personal insolvency specialist, said: 'The existing laws are outdated and don't apply to the vast majority of people applying for an IVA today. These rule changes would simplify the process and make taking out an IVA more viable for people in debt.'

There were over 47,000 bankruptcies this year and the easier process for filing an IVA is an attempt to help reduce this number.

Around 20,000 people filed for IVAs this year and it is expected that a total of 30,000 will file for an IVA this year.

One of the main benefits is that creditors cannot get your home while you are on an IVA.

How To Make Money While In College

2007-05-21T02:57:00.000-07:00

Let's face it: Students = Broke. From paying for tuition, food, books, and the other creature comforts of college life to engaging in those "not so productive" times away from home, we college students have several expenses that add up very quickly. Without extra income, it can be very difficult to just get by, let alone have a little fun with our new found freedom. There are many ways to make extra money in college, whether you are looking for quick and easy money or a substantial income. As I am sure you already have found; an honest effort in school can go a long way. Spending some good time and effort "making the grade" online could make you the richest kid on campus. The good thing about making money online is that you will not need to leave your dorm room in order to do it. As long as you have a computer with an Internet connection, you can already earn some money online.

EASY MONEY
Overdue cell phone bill? Parking ticket? Looking to take a girl out but you don't have the cash? There are many ways to get money now and/or really quickly! Incentive Rewards Programs can help you have a fat wallet for that concert the weekend and paid surveys are also extremely popular. You could even make money by cleaning up your dorm and selling old stuff online. These are just a few examples of how you could make a quick buck.

ONLINE BUSINESS
Setting up an online business is easier than ever before, requiring very little startup capital in terms of money especially if you are setting up a business that will only require your skills. Many students find that they can make money in college providing services in their field, such as marketing. If you can write well or design websites, offer your services online. You can work on your assignments during your spare time. This will provide you with real life training and often your work becomes much more. For instance; I once designed a website for a client for a few hundred dollars. The website doubled as a project for a class that I was taking.

WORK WITH OTHERS
Working on your internet business online can sometimes turn you into a hermit and you could miss out on fun with your friends. If you do not want to work by yourself, involve your friends in your online money making endeavors. If you have a group of friends that have the same interest as you, you can propose a partnership and work together. There are many, many ways to make money online. No matter how much money you want to make or in what time frame you want to make it. No matter how much or how hard you want to “work” to get it, there is something out there that will help you make it the money that you need in college.

Picking a Good Personal Financial Software - Top 2 Personal Financial Software Programs

2007-05-21T02:56:00.000-07:00

Have you ever thought that organizing and managing your money was overpowering and hopeless? By using personal finance software, many of the concerns you have with managing money can be squashed.

Picking the right software package for you can build your confidence in managing your money and making sure your finances are in order.

Some of the advantages of using personal finance software are:

* You can pay your bills online by using online banking.
* Manage your stock and 401K portfolio by trading stocks, bonds and mutual funds.
* You can get real time stock reports.
* Export your tax and financial data to your tax return.
* Build reports and graphs to find our where your money is going.
* You can keep all your financial information in one place.
* Maintain a list of usernames and passwords for all your investment websites.

An excellent personal financial software program will allow you to store your information and data for as long as you would like. You will not need to store files of pager in boxes with all your yearly statements.

Some financial websites will actually limit how long information is stored on their site. Personal financial software can help you to store your data on your computer so you can track your spending. You can build budgets and do long and short term goal planning.

Personal financial software will not do everything for you. You still need to set up the program when you begin and depending on the difficulty of your financial information and how comprehensive you are, it could take your some time. You can download a lot of your data from your financial websites, but you will still need to record some transactions manually. You also will need to be attentive in recording your data.

Here are some considerations and features when buying personal financial software.

* Make sure the software is user friendly and easy to set up and install.
* The software should be current on new tax laws.
* You should have the ability to do online banking and bill paying along with account transactions and reconciliation, exchange currencies, electronic payments and write checks.
* Features for investing should be including getting stock quotes, managing your 401k, stocks, mutual funds and bonds.
* Retirement planning options to achieve your financial goals, manage taxes, lifetime events, plan college expenses home purchases, expenses, debt relief and more.

Is It Really Risky To Have A Heavy Installment To Pay?

2007-05-21T02:55:00.004-07:00

A Stupid Credit Card Debt

I was recently divorced and I had no job. I was living at an old aunt’s place, since I couldn’t even rent a room and all I had was a credit card. I had already started paying the minimum amount and it was excessively overloaded. In the end, as it happens to most individuals in the same situation, they called me in to hand over the card, so they could void it.

Accumulative Interest

What came next was an endless “pilgrimage” with my few belongings, from house to house. No steady job, since I was quite battered due to the fact that in the course of just 30 days I was left without a job, without a family and no place to live in. I started a “dry” spell and it remained with me until I finally got round to a new atmosphere, new job and new energy. But the card debt… was accumulating interest.

It Is Easier Said Than Done

I had started a new era in my life, finding a new niche and exploiting it very well, since it was a free-lance job. In the end I slided into a self-employed situation that was very well paid. I had learnt to sell my services very well and quite dear. I remembered the debt at all times, but I just didn’t feel like putting my head on the chopping block.

The Inevitable

One day, the inevitable happened. My father had passed away and my family needed to sell the house to buy a smaller one for my mother. Seven brothers and sisters had to sign an authorization for the sale… But I was barred from all commercial operations because I had a debt. What started as a $5,000 debt was now, after 7 years, a nice fat sum of $20,000.

The Solution

My sister took a loan under her name and a small part of it was used for the moving and some repairs that had to be made on the new apartment. The rest was all to pay for my debt, cash down, so as to accelerate my legal rehabilitation. And now, came the real difficult part. I had to pay an installment of $800, at a time I had not planned to allot that much money to a debt I didn’t even want to pay back.

Four Long Years

Forty-eight months of bleeding my pocket from its precious greenbacks. There was no other option. If I failed to pay, it could mean serious trouble for my sister and in the long run a default with the probable loss of my mother’s house.

I still don’t know how I managed to pay every single payment. The summer months are usually bad for business, since I was teaching English to Korean immigrants and when their kids had vacations, they dropped off. I skipped a payment at the very beginning, but made up for it the following month.

Conclusion

What I mean with this is that when you want to hold on to your precious home, and especially the home of those who depend on you, you don’t know how you manage, but you pay up. And your property is never at risk. With a firm intention, there is no fear of not making it.

Motivation And Saving Money

2007-05-21T02:55:00.003-07:00

You know what motivates people to save money. Fear. Fear helps people to get into the saving habit because it makes people realize that they can lose it all. You will end up loosing many things if you don't learn how to manage your money. Don't wait until something has happened, like getting your car taken off of you. You will want to make sure that that you want to find the motivation early in life. If you learn how to save your money a little bit at a time you may be able to have a good hunk of change in the end. Saving money is important because you never know when the hard times are going to hit. You will find that there is a lot of motivation in knowing that you can have a safety new.

When it comes to a safety net, you will find that it has a huge opportunity because you never know what will happen. Saving money is very important because you never know what could happen. You may end up losing your job. You may end up getting hurt. You need to make sure that you are able to cover yourself by saving the money.

Some other things that might come into mind when you are looking for motivation for saving money is something that you always wanted. Maybe you have a purpose to save the money and it is not for a rainy day. Maybe you want to save your money so that you can go away on vacation, purchase a car, purchase a home, purchase something huge and that you normally wouldn't buy. You will to think about the amount of money it is going to take to make the purchase and then you are going to have to work hard saving the money. This is a great reason to save some money because you will love yourself in the end. You will know what it feels like to work hard for something that you truly want.

If saving money for something particular is not what you want to do then you might want to save the money for your future. There are so many people who are from the baby booming age who are now worried about how they are going to make it. They are worried about how they are going to be able to live after retirement. It's scary to be at an age where you can't work and not have any money saved for the future. If you want to be motivated to save money then you should always think about what you are going to do for the future. You can never have enough money for the future and you will learn that the more that you save, the better you are going to be able to live.

Another reason why you are going to have to save is for those unexpected things. Maybe you will end up at a crossroads in the future. You are going to have to choice one way and you need to know that you have the money to cover up the losses that you might come into account of.

You will find that there are lot of things that are going to happen, however, if you save money for your future and those unfortunate mishaps will always be covered and you'll plenty of time to focus on the things that matter the most, not your money issues. You are going to have plenty of time to focus on the things that you really care about and not pity things like money.

Motivation And Saving Money

2007-05-21T02:55:00.001-07:00

Credit Card Debt Consolidation Counseling - Key To Rescue Your Credit

2007-05-21T02:53:00.000-07:00

Credit card debt consolidation counseling services are the saviors of the people who have a poor record of maintaining their credit card debts. The growing figure of these credit card companies baits you to accept their credit cards and then fleece you from all nooks and corners of your finances. Credit card debt consolidation counseling helps you to take care of these financial strains. They can be approached by submitting some essential documents.

The documents required for Credit card debt consolidation are related to credit card debts, which you owe to different creditors. Taking in view of your financial standing and ability to pay, these counseling services design and suggest a debt consolidation program to pay off your debts. The services rendered by them help you in paying your debts in easy monthly installments. Negotiating on your behalf, they try to bring down the rates of interest and erase the penalties charged.

An Effective Service To Pull You Out of The Debt Marsh

Credit card debt consolidation counseling helps you to ease the ever-mounting pressure of credit card debts. The credit card debt increases manifold in a short span of time as for their high rate of interest and simultaneously the penalties charged every time for non-payment of dues.

These counseling companies are generally non-profit making companies and hence advise you on free credit card debt consolidation program. Counseling companies do not charge for their services, instead help you to reach a level, whereby you are able to free yourself from the clutches of credit card companies. Do remember that whichever Credit card debt consolidation counseling company you choose, it should give you debt consolidation quote free of cost.

Credit Card Debt Consolidation Calculator - A Great Reliever

The credit card debt consolidation calculator is a great reliever when it consolidates all your debts to your convenience. Using these calculators, you can consolidate your total debts into single monthly payments and keep a track of the stipulated period, to pay back your debts. A particular rate of interest can also be fixed as per your repaying capabilities. Optimum advantage can be achieved from these calculators by getting a helping hand from your Credit card debt consolidation counseling company.

An Explaination of APR

2007-05-16T04:41:00.000-07:00

APR is one of those wonderful acronyms. Everyone’s seen it, everyone kind of knows what it means but no one’s exactly sure. APR stands for Annual Percentage Rate.

It illustrates the true cost of the money borrowed on loans, mortgages, and credit cards, and by law, consumers must be provided with that information, although the rules governing credit advertising under the Consumer Credit Act set out "triggers" that indicate when an APR must be shown in an advert.

The APR calculation takes into account the basic interest rate, any initial fees, when interest is charged (i.e. daily, weekly, monthly or annually) and any other costs you have to pay. As all lenders are legally required to calculate APR the same way, it should enable consumers to make meaningful cost comparisons between lending products, including any fees that are added in addition to interest charges.

Now, that’s the basics out of the way. Now things get a little more complex. You’ll have seen Typical APR written down most of the time. Typical APR means that 66.666% or 2/3rds of their customers got that interest rate or less. However, APR can range. That remaining 3rd may have got a much higher rate.

OK, now what’s a variable APR? All lending in England & Wales is based upon the bank of England Base rate. The company then adds onto that based upon the risk they perceive in lending to you to come up with your interest rate. They then add any fees and such like to work out the APR. Now because the Bank of England base rate goes up and down a variable loan goes up and down with it. If the loan is not fixed and is variable then the interest rate you’re paying on your loan is variable too. At the moment, despite recent rises in the base rate, lending in the UK is still quite cheap. However consider if you take out a variable rate loan. Could you afford the repayments if the interest rate doubled, or even tripled? It’s worth considering.

Don't Lose Your Home To A Miscalculated Loan

2007-05-16T04:40:00.002-07:00

No Need To Be A Mathematician

The balance between your income and your spendings is a simple matter. However, thanks to modern credit tools, you can get into such a spending inferno that could end up in disaster, caused by the fact that you lose sight of that simple balance, on a monthly basis.

That Wonderful Little Piece Of Plastic

Credit cards are fantastic when you consider that you don’t have to go around with cash and even pay for what you buy at the end of the month. The trouble comes when you start buying too much and have to refinance. That is a dangerous tool that must be used with extreme care. This fact alone can mean the turning point in the middle of a mortgage repayment or a home equity loan.

The Beginning Of The End

You have no equity left to lay your hands on, in order to pay off the credit card debt. Well, I don’t need to go into detail of the inminent default and risk of losing your home, just because you let things get out of hand.

A Miscalculated Loan

It often happens that you take a loan with a shorter term because you think you can manage. When you realize that, you also realize that a remortgage is of no use, because the rates have gone up. Even more so, there are fees to be paid for the remortgage to extend the loan period. So, you are stuck in the mud.

My Luck!

You might trust your luck to get an unsecured loan to pay for the swapping fees, but what about the increased interest? Even if you do get the unsecured loan, the monthly instalment has to be made, adding even more expenses to the one you have for the mortgage. This situation could be catalogued as jumping from the pan into the fire.

There is only one solution to this: Get a better job, an extra job, increase your income in such a way that you escape the claws of bankruptcy… or risk losing your home due to default.

It All Sounds Too Far-Fetched

Yes, it certainly does, but it is also quite probable. Surfing on the Net some weeks ago, I came across a survey on mortgage default. It states that, on average, 1,5% of mortgage borrowers run into default, with a high peak in the State of Ohio of more than double. These figures correspond to 2005, after a dramatic increase during the previous six years.

The Real Solution

Shop around carefully before finally applying for your mortgage. Write everything down: The cost of the loan, the monthly payment with a little allowance in case something unexpected arises, whether you can really afford the cost of the house you want to buy, everything you can think of. Ask the loan officer whatever you are not sure about.

What you must be sure about is that your home will remain yours. Get free quotes on-line, work out your budget for a typical month during the payment period, do this a dozen times or more but don’t go for your first loan without finely calculated figures.

Spring Clean Your Spending Habits

2007-05-16T04:40:00.001-07:00

Ah, spring is in the air. A crisp breeze is blowing, the sun is shining again, and flowers are just beginning to blossom. This is typically a time when we open our windows, sweep the dust out from under the sofa and clear away the clutter that we hoarded over the winter months.

Spring cleaning is underway!

In addition to your physical surroundings, there may be another area to spring clean that you haven’t yet thought of.

At the end of the day, we could all use a little extra money. How about taking a bit of time to spring clean your spending habits?

The exchange of money for goods and services actually was quite an ingenious invention. It is a great tool of exchange, that allows us to accumulate wealth and then later decide how much of that wealth we would like to put toward the acquisition of things we need or desire.

Often we get caught up in spending habits that have little to do with the initial purpose of exchanging money.

* We purchase items spur of the moment without much thought.

* We purchase items because we think it will make us feel better.

* We purchase things with the notion that they might make us look good.

Yet, in the end, these spending habits leave our bank accounts empty and us wanting for more. Essentially, these spending habits actually create the atmosphere of lack and insecurity that we are attempting to fulfill with our spending habits.

See the cycle?

Ready for a little spring cleaning? Take a moment and review the following:

* What are your spending habits like?

* What are you sweeping under the sofa, not wanting to admit it's there?

* What are you spending that you don't really need yet are attempts to feel good?

* What clutter are you accumulating that cost you money and you are now spring cleaning out of your home?

* What are you willing to eliminate that could give you a little extra money at the end of the day?

* How many articles of clothing did you purchase that still have tags on them in the closet?

And, here are some money-saving ideas that you can implement right now!

* Make those Christmas returns!

* Highlight the items on your bank statement that you didn't really need and eliminate them from your spending this month.

* Empty your pockets at the end of the day and throw your change in a jar.

* Make coffee at home and go to the coffee shop as a special treat.

* Create a simple budget for yourself this month.

And, just as our physical spring cleaning task becomes easier each year when we establish empowering habits, so will your spending spring cleaning.

I challenge you to eliminate your spending clutter this spring. Make it a goal to invest only in higher pursuits - things that enhance your career skills, enrich your spirit, sharpen your financial skills, improve your relationships. In time, you will find that you've traded your lackadaisical attitude toward money for one of abundance.

Personal Financial Freedom

2007-05-16T04:39:00.001-07:00

It is important for everyone to understand basics of personal finances and also effectively use them .

Any individual has two types of income . Assured income as well as income which is not assured.

Assured income is one which will keep flowing whether you are personally working or not . For example, Rentals, dividends, royalties , Interest , etc .

On the other hand income which is not assured is one which stops flows the moment you stop working. For e.g Paycheck, Bonus, etc ..

Similarly , there are broadly two types of expenses .Fixed and discretionary. Fixed expenses like , taxes, Debts, Insurance, household expenses , etc .

To achieve " personal financial freedom " we should be concerned about a Flow , which we can term as freedom flow . This is the difference between the Total expenses and the assured income .If the result is negative , then one can smell freedom . On the other hand if the result is positive , it implies continued imprisonment in the trap of debt.

There is a simple formula by which one can determine how long would a person take to achieve "personal financial freedom" .

N = Freedom Flow / AIOP x Plough back

Where , N = No of years required to achieve threshold of freedom .

Freedom Flow = Total expenses - Assured income

AIOP = Assured Income that can be generated as a percentage of the plough back. A 10 % conversion is a good reference .

Plough back = (total income) - ( total expenses ) . This is the money available for conversion to assured income .

To take an example, if for a person ,

Assured Income = $25,000

Total Income = $ 1,00,000

Total Expenses = $ 85,000

AIOP = 10 %

Then the plough back is $ 40,000.

So , as things stand , the number of years required to reach the threshold would be :

60,000 / .1x 40,000 = 15 Years .

Now , let us say the person is able to reduce his total expenses by 20 % and improve his AIOP to 15 %, then the number of years required for him to achieve threshold would be :

43,000/.15 x 57,000 = 5 years .

Such is the power of this equation , which essentially means that we should

Keep the freedom flow as low as possible . Increase income and reduce expenses .

Maximize AIOP

Maximize the plough back .

This formula , however does not take into account inflation . It is best to use this as an indicative tool rather than dissect it for accuracy .

8 Personal Banking Don'ts

2007-05-16T04:38:00.000-07:00

Presumably the object of having a bank account is to save you money, or at least to help you more easily and properly manage it. But there are also several ways in which your use (or misuse, as the case may be) of your personal banking account could lose you money. Below you'll find out how to avoid the eight most common blunders when it comes to personal banking.

1. DON'T pay more than you have to: If you're like most people, you haven't really made the effort to comparison shop for the best personal banking terms you can find. Most bank accounts have some sort of fees or another associated with certain aspects of utilizing and/or maintaining your account, from annual fees to check-writing fees to fees for falling below a minimum balance to so-called "overdraft protection fees" to counter fees (to name just a few). These fees can slowly eat away at your savings. Banks change their policies all the time, so it's never a waste of time to look around and make sure that you really are getting the best deal for your money.

2. DON'T ignore your bank statements: When your bank statement arrives in the mail, do you simply toss it without even reading it? Many people do. But bank statements often contain errors, and the only way you'll know when one occurs is if you read through each statement carefully and compare it against what you know to be true (hopefully by way of a regularly balanced checkbook). Without reviewing your statements, you could wind up stuck with a fee for a payment you didn't make. You could find that someone has copied your ATM/debit card and made purchases against your account. The only way to catch this is to take it upon yourself to read your statements and check them for accuracy.

3. DON'T be careless with ATMs: Be conscious of other people around you when using an ATM. Do not write your PIN number anywhere near your ATM card and be sure to shield it as you type it in. If you make a mistake writing out a slip, don't just throw it away or leave it lying there - pocket it and dispose of it properly later. If you request a receipt make sure you take it. And many machines automatically spit out a receipt after a transaction is completed whether you request it or not. Be alert to this happening and make sure to grab that receipt before you walk away.

4. DON'T leave paper lying around: After you're finished reviewing your bank statements, don't just carelessly leave them lying out where anyone can see - or steal - them. Even simply throwing your statements away can lead to identity theft. Digging through trash is one of the primary ways identity thieves get the goods on their victims. Don't make yourself an open target. Lock away any bank statements or other related documents that you wish to hold on to. Invest in an expensive shredder - the confetti type are best - for the ones you don't. And then remember to use your locked file cabinet and shredder diligently whenever you are through with your bank statements. It's for your protection.

5. DON'T bank online in a public place: Forget about people looking over your shoulder for a moment. An even bigger threat in banking online at a library or a cyber-café or other WIFI hotspot is another computer user on the same internet connection being able to snoop on what you're doing. Wireless networks are not totally secure. People can use that opportunity to capture your personal information and sabotage whatever transaction you're making. No online banking emergency is so urgent that you need to make yourself that vulnerable.

6. DON'T be a loyalist: In other words, don't become so enamored with your bank, or so lazily accustomed to it, that you continue to bank there without consciousness of how comparatively good or bad a deal you are getting. If you've consistently borrowed money from the same bank, maybe it's time to start exploring your other options. Even if you shopped around long and hard to find this bank, time passes, deals change. It's worth reevaluating every now and again your decision on where to bank. And it's particularly easy to do this type of research online.

7. DON'T be a stranger: Establish a relationship with your bank and the people who work there. The best way to get the best possible deals from a bank is to let them get to know you. Set up a meeting with the manager of your local branch, just to introduce yourself and key them in to your financial goals. You may never actually need their assistance beyond the norm, but if you do - if a problem arises, an error or a financial emergency - you'll benefit greatly from having already established a rapport with the folks whom you're asking for help.

8. DON'T be afraid to ask: Banks are in the business of keeping their clients. This sometimes means they will go above and beyond their normal service offerings to keep your business. Whether you are looking for a more favorable rate on one of your accounts, free financial software, or even a toaster, don't be afraid to ask about specials. In the process don't forget to remind them how loyal a customer you have been. You'd be surprised how many promotion items that are available to you, but are not given to you. It's just taking up space in your bank's storage room.

In summary, taking care with your banking habits, being protective of your banking information, and remaining aware of how the deal you're getting compares with other deals available to you will help prevent you from making many of the most common and detrimental mistakes in personal banking.

Solutions For Obtaining A Credit Card With Poor Credit

2007-05-10T05:29:00.001-07:00

Search Engines

Anyone can perform an internet search to look for credit cards with poor credit and find hundreds of results; there are so many choices and the “small print” is so varied it can be hard to understand exactly what a consumer is agreeing to.

Many credit cards offer guaranteed acceptance regardless of credit, but the consumer must read through a list sometimes several pages long, to try to find the information they are looking for most.

Below is some information to help distinguish one kind of “credit card with poor credit” offer from another; each company will have its own small print naturally but this should clarify some of the common terms used for credit cards.

Pre-Approved And Acceptance Guaranteed*

Credit cards for poor credit offers which include the terms pre-approved or acceptance guaranteed are almost always followed by an asterisk (*); this is because the terms and conditions will state that the card holder must meet certain qualifying conditions.

Common qualifying conditions will include income, time of employment, time at residence, and of course credit rating; the exact amount will vary by credit card, most will require a minimum of 12,000 dollars annual income and six months of continuous employment.

When residency is an issue the company may also require a minimum of six months at the address and most charge a higher annual percentage charge the lower credit rating the applicant has; while the company will accept any credit they will charge the people with poor credit higher annual fees, annual percentage rate, and possibly require a deposit.

Secured Credit Cards

Secured credit cards for poor credit applicants may charge a higher annual percentage rate like the unsecured variety; the major difference will be that there is less qualifying information because the “credit” available on the card is pre-paid in full by the card holder.

This type of credit card for poor credit applicants works much like a debit card to a checking or savings account except balances left on the credit card are charged a monthly fee based on an annual percentage rate; these balances are also subject to minimum finance charges.

Pre-Paid Credit Cards

Pre-paid credit cards are somewhat different from secured credit cards because a pre-paid card will have no annual fee; it is more of a gift card with a Visa or Master Card logo than a true credit card.

These credit cards for poor credit applicants can seem like a good option because the company doesn’t check credit or employment history; but because this isn’t a true credit card it will not improve any credit rating or good spending and payment habits will not be reported to credit agencies.

Why Get A Credit Card

Credit cards for poor credit applicants are a good tool to turn poor or terrible credit around after time; the trick is to get a credit card with a small limit to start and try to pay off new debt each month instead of carrying a balance.

This is debatable by credit experts, some credit experts say to carry a balance and pay just a bit more than the minimum to build credit, while others suggest paying off the balance monthly.

Credit cards for poor credit applicants should be paid off monthly because this lessens the risk of getting into further financial trouble, establishes a good payment pattern, and shows future creditors on time regular payments; many creditors look for regular on time payments, when considering offering credit.

Lowest Rate Credit Cards - You Must Have Good Credit

2007-05-10T05:27:00.001-07:00

There are many ways to get lowest rate credit cards, but most of them involve fixing your credit. This assumes that your credit isn’t all that great, which unfortunately is the case for a lot of people. There are many credit card companies out there and they are more than willing to lend you their money for a small fee. That fee is in the form of an interest rate that you pay along with your bill. When your credit isn’t so great, the companies will offer a higher interest rate. That means they don’t trust you as much with their money and want to charge you more to cover the risk. When you have good credit, however, you can often qualify for the lowest rate credit cards and that’s a very good thing.

Use Your Cards To Fix Your Credit

If you need to fix your credit, take the lowest rate credit card that you own and see if you can combine all of your debt into one entity. Then, you can pay it off while enjoying that lower interest rate. By doing so, you have repaired your credit to an extent. As you pay your lowest rate credit card off, you again begin to fix your credit. Soon, your credit will be back to a better standing and you will then qualify for the lowest rate credit card offers.

The lowest rate credit card offers are usually somewhere around two percent. That’s great when you consider than some people have fifteen percent or more interest on their credit cards. That is ridiculous when you consider that fifteen percent of every purchase goes to the credit card company. That can quickly add up to a lot of money. For this reason, don’t just sign up with any credit card offer that comes your way.

If your credit is important to you, and for most people it is, you want to make sure that you read the fine print. Make sure that your lowest rate credit card isn’t going to jump to fifteen percent or more in a couple of months as some enticement to sign up with them. Make sure that you are treated fairly, and that includes obtaining lowest rate credit cards whenever you can.

Fixing your credit can be a daunting task but it can be done. Just be patient, try to pay more than the minimum payment when you can and in no time at all your credit will be where you want it to be and you can then qualify for the lowest rate credit card offers.

Slash the Amount You Pay Creditors With a Small Increase to Your Minimum Payments

2007-05-10T05:26:00.002-07:00

How much would you end up with if you took a penny and doubled it every day for a month? The answer to this question demonstrates quickly why your creditors have the upper hand in your relationship with them.

Taking a mere penny and doubling it every day for 31 days, you end up with $21,474,836.48.

Day 1 the original penny turns into two, Day 2 those two turn into four, and on Day 3 the four turn into eight … The amount the original penny is worth accelerates rapidly because not only does the original penny collect interest, all the pennies being added to the original are earning interest as well and so each day the growth of the original penny is being compounded.

This is why banks and credit card companies make so much money at your expense. They don’t just earn interest on the amount you spend. They also earn interest on the amount of interest your charged when you only make minimum payments.

There are three key components to the amount you’ll give to the banks and credit card companies when taking on a debt:

1. How much you owe.
2. Your interest rate.
3. How long you stay in debt based on the payments you make.

The importance of 1 is obvious. If you don’t take on debt you’ll never owe the bank anything. Most people place to much emphasis on 2. Yes, if you receive a 0% interest rate you won’t pay the bank much. And everything being equal a low rate is better than a high one. Were the banks get you however is with 3.

By setting the minimum payment low relative to the balance the banks stretch out your payments for years and sometimes decades. Now they are not only charging you interest on your balance they are charging you interest on the interest you owe them compounding their money and supercharging their profits.

When you hear stories about a consumer spending $15,000 interest on a $5,000 purchase the low minimum payment the bank or credit company set is the reason they ended up spending $20,000 for $5,000 worth of stuff.

The key to keeping money out of the pockets of your creditors is to pay a bit more than the minimum payment each month.

In the example above about the penny compounding over the course of a month. The penny sees most of its gain towards the end of the month. On day 20 its worth $10,458. By day 27 this amount has grown to $1,342,177. And then by Day 31 it hits $21,474,836.48.

Instead of using days like in the penny example let’s think in terms of years. If you have a $200,000 30 year mortgage with a 9% interest rate your minimum payment every month would be $1609. At the end of thirty years you’d finally own your home having spent a total of $579,322. The $379,322 of interest you’ll pay represents 65% of the money you’ll spend.

However if you were to put an extra $100 towards your mortgage per month you’ll spend a total of $479,780 purchasing your home and avoid $99,542 of interest charges reducing your interest costs to 58% of your total payment.

Plus you’ll own your home in 23 years and 5 months instead of 30 years. So by investing $28,100 in extra payments you’ll avoid $99,542 in interest charges, a return on your money of 354%.

The gains only compound as you increase your additional payment. Increase it to $200 and you’ll avoid $151,988 in interest charges, own your home in 19 years and 9 months, and earn a 329% return on your money.

Creditors may set the payment terms when offering you money. They can't dictate that you abide by them though. Use the power of a moderate monthly payment increase to avoid padding your creditors bottom line and save the money for yourself.

Personal Overdraft Agreements For Unexpected Expenses

2007-05-10T05:26:00.001-07:00

The amount you spend (up to the overdraft limit) will only charge interest as long as you don’t cover for it with a deposit. If you deposit the amount the next day or a few days later, you’ll only be charged some cents. It is an ideal solution for emergencies and the costs are extremely low.

Overdraft Agreements Are Personal Lines Of Credit

The nature of overdraft agreements is discussed. Unless there is a special arrangement with the bank, the overdraft agreement is an unsecured loan. But, given the revolving nature of the loan amount, truth is that they are much alike personal lines of credit. It’s just like a home equity line of credit only it is unsecured and for smaller amounts.

Being unsecured, it’s strange that the interest charged is significantly low. This is mainly due to the fact that the overdraft agreement amount limit is small enough to be considered of no risk. The amount can range between $300 and $2000 so the bank has nothing to worry about and thus charges interest rates around 8% to 15% depending on the borrower’s credit history with the institution.

How They Work?

The way overdraft agreements work is rather simple: Once approved an overdraft agreement is immediately associated to your bank account. From then on, your bank account will report a balance, an overdraft agreement balance and the overall money available. For example: If you have $500 deposited into your savings account with an overdraft agreement of $1000, then you’ll have $1500 available for withdrawal, issuing checks or paying with a debit card.

Once your own money is used up, your overdraft agreement begins to be used and any amount debited from your account is deducted from the agreement’s limit. Any amount over the limit and up to 10% over it (when the account is blocked) will generate additional higher interests in the form of penalty charges. As soon as you repay the total or part of the agreement’s amount, the money will be available again when you need it.

Where To Get Them?

You can easily get an overdraft agreement for your savings account by contacting your local bank and requesting it. Provided that you have a steady income and a good credit history with the institution (no credit check is needed) you’ll surely get approved for at least $300, higher amounts may require some checking of your overall credit history.

Some banks offer accounts that already come with an overdraft agreement for a little maintenance charge or fee. Moreover, sometimes these agreements come along with a whole account package that consists of a saving account, a checking account, an overdraft agreement, one or more credit cards and a pre-approved personal loan for a certain amount that you can obtain without having to fill any paperwork (sometimes even through the ATM)

Are Walmat - Kmart and Target's Credit Cards Really a Good Deal

2007-05-10T05:25:00.001-07:00

Walmart, Target, and Kmart have all jumped on the retail store credit card bandwagon. These discount stores are vigorously promoting their store credit cards as well as mastercard's or visas with their logos on them. What a great way to save money you might think however, these store credit cards must be used with caution to prevent runaway spending and buyer’s remorse.

Discount stores do a tremendous amount of business, as consumers find it more convenient to get all of their shopping done in one place. What better way to increase customer loyalty and spending than offering them instant credit at the checkout? Target, Walmart and Kmart each have some type of discount or rewards program for using their cards, but you can incur stiff penalties for late payments and over the limit balances. Also, while the introductory rates may be low, they can quickly rise if you don’t pay on time. Alot of savvy shoppers are finding that using regular credit cards with the reward features on them can save them hundreds of dollars each year simply by offering better interest rates and reward features.

Target introduced its Redcards to shoppers with the intent of building brand loyalty and profits. The store credit card can only be used at Target, while the Target Visa can be used most anywhere. When customers use their Target credit cards, 1% is donated to the schools of their choice. A 10% discount on purchases is given when you are approved the same day, and you receive the same 10% discount when you order from Target.com Every $1 you spend at Target with your Target visa equals one rewards point, and every $2 you spend elsewhere earns you a rewards point as well. Once you reach 1000 points, you get another 10% discount shopping day.

Along with these benefits comes a high 21% APR that can jump as high as 25% if you have 2 late payments in a 6 month period. The Target store credit card and Target visa are worth getting if you pay in on time every month and don’t carry a balance. However, unless you do a huge amount of shopping on that 10% off day you will usually come out ahead going directly through the card issuers like Chase, Citi an Bank of America reward cards designed to reward good paying clients.

Kmart has a similar credit card issued by Capital One that gives you an APR of 11.9% on purchases in store or online at Bluelight.Com. Again, the low rate goes to 25% or higher if you are late paying 2 times in a 6 month period and a $25 late will apply. Walmart offers a Mastercard from Chase that gives you 9.99% fixed APR on balance transfers within a 9 month time span. Apr for purchases on the credit card varies depending on your credit worthiness, and ranges from 13.48%-21.48%. Late fees and an interest rate increase to 24.49% occurs when you make late payments.

If you are a disciplined shopper and make your payments in full and on time each month, these discount store credit cards are worth your while. Be honest about your ability to pay off the balances and research the terms and conditions thoroughly to avoid nasty surprises when your bill arrives. Compare deals and don’t apply for the credit card at the register, instead, take home the information and decide if the credit card is right for you.

Critically Important Questions to Ask Yourself Before Applying for That Loan

2007-05-08T03:25:00.003-07:00

Loans are easy to apply for and receive in our society. So easy, in fact, that sometimes we don't give a second thought whether this, or another loan, is in our best financial interests. There are 5 key questions that can tell you whether a loan is right for you, financially.

If you answer these questions honestly and creatively, you may be surprised at the outcomes.

Ready to start? Let's go.

Question #1. Can I really afford it?

This basic question is sometimes overlooked. Some folks think that as long as there is some money left over from the pay each week or month that it's fine to put this towards another loan. Wrong! Unless you understand your true income, expenditure, savings goals and retirement goals, how will you know whether the money you have spare after each pay can really be applied to a loan?

Setting up your personal/family budget is necessary if you want to know what you can afford. These can be found by searching on the Internet.

There are certain basic laws that apply to spending whether you know them or not. Some of these are:

a) If you regularly spend more than you earn you are setting yourself up for lifelong poverty.

b) If you borrow to buy short-lived assets (e.g. TV, DVD, car, boat, etc) the interest and repayments can continue at the same rate long after the asset has lost its value. That makes them a very expensive item.

c) If you pay for items like clothes and other household items by credit card it makes the items a lot more expensive than you think. Especially when the interest rate is around 13 - 15% per year.

d) Credit card debt, while easy to acquire can be very dangerous if you only pay the minimum each month.

Question #2. Do I really need it?

Advertising today is so sophisticated that it makes you think there are so many things that you just cannot do without. However, just take a minute to ask yourself these questions:

Do I really need the updated car? Isn't the current one good enough?

Isn't our furniture still serviceable without resorting to an upgrade?

Do I really need all the latest electronic wizardry?

Are all the latest fashions a necessity? Am I really a better, more likeable person by buying them?

The purchase of these items is often made at the expense of your future financial well-being and overall happiness. Surely, the fleeting happiness of today's purchase wears pretty thin, compared to the worry and stress of over-extended credit and unpaid bills.

It is best to try every avenue before resorting to a loan.

Question #3. How will this loan affect my financial future?

A loan can have an adverse effect on your financial situation through many ways. Some of them are listed below:

a) If you default on a loan it can make it much harder in the future to borrow again.

b) If you damage your credit rating your borrowing costs can increase.

c) Borrowing for an asset whose useful life is less than the life of the loan is a sure way to pay a lot more than the worth of the asset. Money that could have paid down credit cards or been used for savings.

d) Saving for things you need will put you in a better financial position and increase you borrowing potential for your mortgage.

Question #4. What else could I do with the repayment money?

If you were to decide to defer or not purchase the item on credit, imagine what you could do with the money?

- You could put it in a savings account. Save for holidays, the car upgrade, kids college fees or home renovations.

- You could start a retirement savings plan.

- You could pay off the credit cards in double quick time. If their interest rate is higher than any other of your debts, pay them off first.

- You could pay extra cash each month or fortnight off your mortgage. Imagine how you'd feel once all the debt was gone and you were free to purchase those things you need for cash.

Aren't these ideas better than committing yourself to more debt and worry?

Question #5. Can I still purchase this item without resorting to a loan?

If there are items that you really need and you do not have the funds to pay for them, what else can you do?

Try these ideas:

- Do you have some other assets that are no longer being used? Sell them and use this money for your new purchase.

- Do you really need 2 cars? Why not sell 1 and use that money for your new purchase?

- What about increasing the 'cash-in'? You could apply for a higher paying job. You could get a second income. Maybe start a home based business on the Internet.

- Why not cut down on your weekly or monthly living expenditures? Buy generic products, only buy necessities, bargain with sellers and commit to only buying items at less than list price.

These are just a few suggestions to help you think twice or even three times BEFORE you go to apply for that loan. Your financial future is at stake here. If at all possible live within your means and save for what you need. You'll be happier and more stronger financially as a result.

Critically Important Questions to Ask Yourself Before Applying for That Loan

2007-05-08T03:25:00.002-07:00

6 Tips for Students to Plan Finances Effectively

2007-05-08T03:25:00.001-07:00

Money truly makes the world go round and how you manage your money decides on whether or not you get credit and the interest rate you pay on loans. The better you manage your finances the easier it becomes for you to get loan approvals and better interest rates.

To make money work you need to develop the mind of a millionaire. One important factor is self control and the other is hard work. To begin life on the right foot you need to master financial planning. You need to set financial goals and put an action plan into place that leads towards the set goals:

1. Create an effective organization system that tracks money in and out and also sounds alarms for when payments are due. Set aside one day of each week to deal with receipts, income statements, payments, and so on. Use online tools such as those at finance.cch.com .

2. Apply for and get a credit report and credit score. This will help you get a clear picture of your financial health. Be sure to get a report annually and learn how to analyze a credit report.

3. Take expert help in setting up financial goals.

4. Create a budget and stick to it.

5. Set small investment goals and every year create a small pool of savings and invest the savings wisely.

6. Use a credit card prudently and wisely. Think hard before spending money you don’t have. Pay for purchases in cash only. Use a credit card only in an emergency and not as additional funds to live the high life.

Learn how to evaluate your financial health regularly.

• Make an assessment that reflects your net worth and debt: income ratio.

• Analyze your cash flow statement. This will tell you whether you need to cut back on expenses, earn more to make ends meet, or whether your budget is working perfectly.

• Design a workable personal finance plan which will take care of expenses and create investment and savings.

• Be sure to monitor and introduce improvements into your financial plan at least once every quarter.

Use online tools like financial planning tools to create a workable plan. Regulate the extent of student loan availed. Take on part-time work to help meet expenses and make small and steady investments.

The key to successful money management is to: stay away from temptations, always pay all bills on time and in full, learn how to save money by sharing expenses and rooming, avoid unnecessary expenses like eating out every other day or purchasing clothes that you don’t really need. If you instill a modicum of discipline and avoid taking loans just because they are easily available you will be able to manage your finances well.

Learn the essentials of interest rates, credit health, insurance, and stock investments. Read up as much as you can on money management essentials. When in doubt seek help from financial aid counselors and other professionals. Most pros are happy to give free guidance to students in need to help.

Plan your loan payments, expenses, and income well and you will find that your credit report and score reflect that you are a dependable individual

5 Deadly Financial Mistakes You Should Avoid Now To Keep Out Of Debt Later!

2007-05-08T03:24:00.002-07:00

Every year more families are going to the brink of financial ruin because they never properly considered their financial future. For some, it’s just to stressful or emotionally uncomfortable to think about and important financial decisions get put off indefinitely. For many, they don’t know and were never taught some basic financial planning tips to keep them out of debt in the future. Here are five financial mistakes you should avoid now to keep your financial future bright:

5 Financial Mistakes To Avoid:

1. Buying on credit: Today’s interest rates are fairly low, but this does not mean you should buy excessively on credit! Carrying a large balance on credit cards month to month is a recipe for disaster. Finance charges alone can slowly eat you up. Buying a car on credit ties up even more of your future earnings for debt repayment.

Just a few decades ago buying so much on credit was unheard of. Children were taught early on what a huge mistake this was. We all need to relearn this lesson and eliminate buying on credit to keep ourselves out of debt

2. Making financial decision based on emotion: When you are going through great stress or emotional turmoil you are most vulnerable to making disastrous financial decisions. It is when you are feeling some king of pressure that you are most likely to make silly decisions that get you into trouble later. Don’t make a big money decision when you are emotionally vulnerable.

3. Not adequately insuring against catastrophic risk: Every year families are financially ruined because they are not protected against disaster. Loss of home and assets to fire and flood are very common events that a surprising number of people don’t protect against with insurance. You should also protect against disaster common to your area. Earthquakes and tornadoes for example. Just as important is some kind of life insurance to protect your loved ones in case of death.

4. Falling for the slick salesmen pitch: They say a sucker is born every minute. And you can be sure there is a slick salesmen waiting to take advantage of every one of them! You should never enter into any financial decision based on salesmen pressure tactics or one-time offers. Great deals that can’t wait for you to think on it or obtain a second opinion are often financial disasters waiting to happen.

5. Not planning out your financial future: For many people it is so much easier to put off the tough financial planning right now and get to it someday in the future. Well we know how that story goes. Years into the future many families are neck deep in debt with no relief in sight. And it could of all been avoided with some sensible planning. Talk to a financial planner today so you can be debt free tomorrow!

There you have it. Five important financial mistakes to avoid so you can be both debt and worry free in your future. No matter where you are at right now financially, it’s not to late to get started. Make an appointment with a financial planner today and get your financial future properly planned out. It’s one of the most important things you can do for your family and for yourself.