qRefinancing a car loan can save you money on interest payments and lower your bill, but only if you find the right deal. Luckily, online car loan lenders can help you sort through rates and fees with fast quotes. Just by entering basic info, you can receive loan offers in minutes.
Start Asking For Quotes
The quickest way to gather quotes is to work with a broker site. A broker partners with several financing companies to offer special deals. Enter your information and receive multiple offers. You can find some great offers in these spots.
If you have time, expand your search to include specific lenders. The more quotes you get, the more likely you are to find that great deal.
How To Get The Best Quotes
The best quotes are the ones that are accurate. They are only as good as the information you find them. So make sure the car loan quote is marked a refinance loan and you submit the right year and model of your car. Also, be specific with your credit score. If you don't know, you can request it from a number of credit agencies.
The length of the refinance loan will also affect your costs. The shorter the loan, the more you will save in interest. A delay of two years will usually cost you a point or more. You can request quotes with different months to see the difference.
If you just want a general idea of rates, look on lender sites. They will list rates for excellent credit scores. Refinanced rates usually have their own category, but are usually close to used car loan rates.
Applying Online For Refinance Car Loan
Once you find the right loan quote, you can apply online. Providing basic information, your information can be processed over secure servers. In a few days, you will receive the final contract in the mail, along with a check. You simply sign the check over to your original lender and complete the forms with a notary. Then send the forms back. After that, you are done and can start enjoying your savings.
About the author:
View our recommended Car Loan Refinance lenders or view all of our Recommended Auto Finance Lenders Online.
Written by: Carrie Reeder
Showing posts with label finance. Show all posts
Showing posts with label finance. Show all posts
Monday, June 22, 2009
Saturday, June 6, 2009
Reconstructing Your Finance After or before Bankruptcy
Bankruptcy is something that could happen to anybody. One of the causes of bankruptcy is carelessness in our finances. There are times when we do not follow our budget. We try to accommodate unnecessary expenses just to finance our lifestyle and buy what we want not what we need. In view of this, our expenses will have the tendency to get bigger unexpectedly. And surely it will have a great effect to our financial capability.
Many years ago, any person would be heavily penalized or sometimes a harsh jail sentence if he could pay his debts. At present, you are still given a chance to reestablish your credibility as a borrower. Remember, you are not the first person to have debts and at the same time not the last. To be bankrupt is indeed a lesson we could learn from because there is no such thing as a mistake that's done twice.
To make a fast recovery from bankruptcy, you need to consult your lawyer. Tell him about your financial situation and what really happened. Be open to him regarding your credit and the list of your creditors. You could also make use the services of a credit counselor for a comprehensive assessment of your problem.
There are creditors who are willing to offer credit in order to help people regain their financial status in life. They offer credit, loans and mortgages. For them bankruptcy is not only due to a person's unreliability. We can not deny the fact that healthcare and education payments are very expensive. Hence, we should thank these creditors who will still trust and believe in us.
In order to regain what was lost from bankruptcy, we need to have the following two reminders.
1. That there is no such thing as forever in credit, secure and use a credit in order to reconstruct your credit status.
2. There are no mistakes but lessons to learn, examine and evaluate your credit report, be sure to have a credit card that is protected, apply for an installment loan, be a member of a credit union.
For our purpose of discussion, let us focus our attention on having a credit card that is protected. There are two kinds of credit so as to reconstruct our credit score.
1. Installment basis like for example auto loans, student loans and mortgages.
2. Revolving credit which includes home equity lines of credit and credit cards.
Let us discuss the installment type of credit. Among the loans mentioned, the easiest way to obtain is a mortgage loan. There are some people who do not consider a mortgage loan as the answer to their bankruptcy. However, there are a lot of people who were able to avail of the loan even one day after bankruptcy. Although it will take us about twelve months of waiting, at least we will be able to get a mortgage loan. Be ready to accept unfavorable terms which will be advantageous to the creditor.
Here are some tips in order to have a quick credit recovery and the desired mortgage after bankruptcy services.
· Be faithful in the payment of your home and cars which were discharged in the bankruptcy.
· Put some limits in your debts like the bank loans and credit cards.
· Give the necessary documents to your loan consultant.
· You should not be frustrated if your loan application was not approved. Just be patient.
There are other alternatives that can help you build your credit after bankruptcy. Be sure to consider the many resources online to help you get your financial life back in order.
About the author:
Dean Shainin offers online http://bankruptcy.deans-knowledgebase.com target=_blank>Bankruptcy and debt advice. For more information, articles, news, tools and valuable resources on bankruptcy and debt solutions, visit this site: http://bankruptcy.deans-knowledgebase.com target=_blank>Bankruptcy Debt Relief
Written by: Dean Shainin
Many years ago, any person would be heavily penalized or sometimes a harsh jail sentence if he could pay his debts. At present, you are still given a chance to reestablish your credibility as a borrower. Remember, you are not the first person to have debts and at the same time not the last. To be bankrupt is indeed a lesson we could learn from because there is no such thing as a mistake that's done twice.
To make a fast recovery from bankruptcy, you need to consult your lawyer. Tell him about your financial situation and what really happened. Be open to him regarding your credit and the list of your creditors. You could also make use the services of a credit counselor for a comprehensive assessment of your problem.
There are creditors who are willing to offer credit in order to help people regain their financial status in life. They offer credit, loans and mortgages. For them bankruptcy is not only due to a person's unreliability. We can not deny the fact that healthcare and education payments are very expensive. Hence, we should thank these creditors who will still trust and believe in us.
In order to regain what was lost from bankruptcy, we need to have the following two reminders.
1. That there is no such thing as forever in credit, secure and use a credit in order to reconstruct your credit status.
2. There are no mistakes but lessons to learn, examine and evaluate your credit report, be sure to have a credit card that is protected, apply for an installment loan, be a member of a credit union.
For our purpose of discussion, let us focus our attention on having a credit card that is protected. There are two kinds of credit so as to reconstruct our credit score.
1. Installment basis like for example auto loans, student loans and mortgages.
2. Revolving credit which includes home equity lines of credit and credit cards.
Let us discuss the installment type of credit. Among the loans mentioned, the easiest way to obtain is a mortgage loan. There are some people who do not consider a mortgage loan as the answer to their bankruptcy. However, there are a lot of people who were able to avail of the loan even one day after bankruptcy. Although it will take us about twelve months of waiting, at least we will be able to get a mortgage loan. Be ready to accept unfavorable terms which will be advantageous to the creditor.
Here are some tips in order to have a quick credit recovery and the desired mortgage after bankruptcy services.
· Be faithful in the payment of your home and cars which were discharged in the bankruptcy.
· Put some limits in your debts like the bank loans and credit cards.
· Give the necessary documents to your loan consultant.
· You should not be frustrated if your loan application was not approved. Just be patient.
There are other alternatives that can help you build your credit after bankruptcy. Be sure to consider the many resources online to help you get your financial life back in order.
About the author:
Dean Shainin offers online http://bankruptcy.deans-knowledgebase.com target=_blank>Bankruptcy and debt advice. For more information, articles, news, tools and valuable resources on bankruptcy and debt solutions, visit this site: http://bankruptcy.deans-knowledgebase.com target=_blank>Bankruptcy Debt Relief
Written by: Dean Shainin
Tuesday, June 2, 2009
Real Estate Investing- Start with getting Your Own Finance in order.
Real estate has been a driving force in world economies since the days of Babylon, one of the most fantastic developments the world has ever known, and the desire to create, not destroy, is alive and well.
To enter the realm of real estate development requires vision, direction, and risk acceptance, but a knowledgeable investor will take calculated risks that are in line with his or her overall investment goals. There are only four empirically supported ways to delve into the real estate market: actually build, buy an existing development, invest in some one else's development, or buy into a Real Estate Investment Trust. All of these venues carry risk and reward, but they also have distinctive differences that set them apart from one another. The most lucrative would be to develop a property from square one, but these types of investments carry more risk and work. To develop a project from scratch enables investors to have more autonomy, which permits them to more openly express their creativity.
Buying an existing property requires investors to pay a premium for the property because the initial risk of failure has already been taken by another developer. To buy into another developer's idea is also laden with risk as well as reward. Developers provide the insight, while investors, provide needed equity. This is for those who have multiple commas in their bank account but have little desire, other than making more money, to enter the real estate market. These people are usually professionals who are too involved with their own profession to spend the time that is necessary to nurture a project from its conception all the way through its evolution.
Whatever gateway is used, real estate offers an escape from the groupthink that often imprisons many conventional investors. There are many ways to enter the real estate market, but there is one prerequisite to all of these: personal fiscal responsibility. Before people can make their mark in this discipline, they must commit to personal finance reform. By this, it is said that potential developers must start somewhere, and that place is their own finances, in order to create adequate equity that can be invested without jeopardizing their future. A potential investor must search out the pivotal facets of his or her personal financial life and make an honest assessment of his or her susceptibility to a certain level of risk. Real estate must coincide with your long-term aspirations.
Developers therefore must incorporate the needs of the external environment in which they operate and preserve what little there is left by not misappropriating one of our most precious resources by releasing it to those who wish to impede sustainable development by promoting their delusions of grandeur. If not, the next major development will have to happen on Mars, and to be quite honest, the ambience there is not so bright.
Interested in this subject? Try this link for more of the same
About the author:
None
Written by: Nestler
To enter the realm of real estate development requires vision, direction, and risk acceptance, but a knowledgeable investor will take calculated risks that are in line with his or her overall investment goals. There are only four empirically supported ways to delve into the real estate market: actually build, buy an existing development, invest in some one else's development, or buy into a Real Estate Investment Trust. All of these venues carry risk and reward, but they also have distinctive differences that set them apart from one another. The most lucrative would be to develop a property from square one, but these types of investments carry more risk and work. To develop a project from scratch enables investors to have more autonomy, which permits them to more openly express their creativity.
Buying an existing property requires investors to pay a premium for the property because the initial risk of failure has already been taken by another developer. To buy into another developer's idea is also laden with risk as well as reward. Developers provide the insight, while investors, provide needed equity. This is for those who have multiple commas in their bank account but have little desire, other than making more money, to enter the real estate market. These people are usually professionals who are too involved with their own profession to spend the time that is necessary to nurture a project from its conception all the way through its evolution.
Whatever gateway is used, real estate offers an escape from the groupthink that often imprisons many conventional investors. There are many ways to enter the real estate market, but there is one prerequisite to all of these: personal fiscal responsibility. Before people can make their mark in this discipline, they must commit to personal finance reform. By this, it is said that potential developers must start somewhere, and that place is their own finances, in order to create adequate equity that can be invested without jeopardizing their future. A potential investor must search out the pivotal facets of his or her personal financial life and make an honest assessment of his or her susceptibility to a certain level of risk. Real estate must coincide with your long-term aspirations.
Developers therefore must incorporate the needs of the external environment in which they operate and preserve what little there is left by not misappropriating one of our most precious resources by releasing it to those who wish to impede sustainable development by promoting their delusions of grandeur. If not, the next major development will have to happen on Mars, and to be quite honest, the ambience there is not so bright.
Interested in this subject? Try this link for more of the same
About the author:
None
Written by: Nestler
Quick Books And Finances
When starting a business one is bound to face a variety of difficulties. Sometimes it seems the problems of creating a new entity are endless. You must find a source for financing. Somebody will have to cut through the red tape and deal with legal issues to get the company off the ground. You can't start a business without a strategic plan, therefore some time must be spent planning out the vision and objective of the company. A plan is useless without the right people in place to implement it, so it is also essential you hire the right people. As you can tell, the issues and concerns can be quite overwhelming. There is really no way around these issues. Each must be dealt with individually.
In the confusion created by all these issues and concerns, frequently one will forget about fundamentals of good business. That is to say, balancing the books and staying on top of your financial situation. Fortunately for the small businesses out there, great software such as http://www.oneminutemillionaire.com/affiliate/glossary/quick -book.asp >Quick Books
Quick Books is a software package that assists you in managing your accounting and financial data. Quick Books streamlines the accounting and financial reporting process, allowing a small business to operate void of any financial specialist. In the past, a small business might be forced to recruit and hire an experienced finance professional to handle the books and keep the company in a good financial position. It was no easy task for a small business owner with a minimal financial background to keep the sources and uses of cash organized, up to date, and accurate. Indeed this proved to be a pressing concern for many small businesses that could not afford to hire financial experts nor had the expertise themselves to keep the books. Ultimately, these small business owners had to make do with the knowledge they had and the results were not always pretty.
Thanks to the Intuit team that developed Quick Books, small businesses can compete on a more level playing field with larger businesses that can afford to employ financial professionals by making use of the powerful software program. Like TurboTax has simplified the tax filing process for individuals, the Quick Books software has created a simple yet extremely useful interface to input and track your company's finances. It doesn't take any expertise to enter the data the software needs to crunch the numbers, balance the books, and spit out the financial reports.
If you have recently started your own business and are lacking expertise in the accounting/finance arena, check out the Quick Books software today. Chances are it will fulfill all your needs and eliminate many headaches. There are many other competitors to the Quick Books software package that may meet your needs as well, such as the PeachTree accounting software. Most likely any of these software packages will offer the features and capabilities you will need as your business expands.
Adam Smith is an informational author for 10X Marketing. To learn http://www.oneminutemillionaire.com>the one great way to make money from http://www.oneminutemillionaire.com>Robert Allen with your small business, please visit OneMinuteMillionaire.com.
About the author:
None
Written by: Adam Smith
In the confusion created by all these issues and concerns, frequently one will forget about fundamentals of good business. That is to say, balancing the books and staying on top of your financial situation. Fortunately for the small businesses out there, great software such as http://www.oneminutemillionaire.com/affiliate/glossary/quick -book.asp >Quick Books
Quick Books is a software package that assists you in managing your accounting and financial data. Quick Books streamlines the accounting and financial reporting process, allowing a small business to operate void of any financial specialist. In the past, a small business might be forced to recruit and hire an experienced finance professional to handle the books and keep the company in a good financial position. It was no easy task for a small business owner with a minimal financial background to keep the sources and uses of cash organized, up to date, and accurate. Indeed this proved to be a pressing concern for many small businesses that could not afford to hire financial experts nor had the expertise themselves to keep the books. Ultimately, these small business owners had to make do with the knowledge they had and the results were not always pretty.
Thanks to the Intuit team that developed Quick Books, small businesses can compete on a more level playing field with larger businesses that can afford to employ financial professionals by making use of the powerful software program. Like TurboTax has simplified the tax filing process for individuals, the Quick Books software has created a simple yet extremely useful interface to input and track your company's finances. It doesn't take any expertise to enter the data the software needs to crunch the numbers, balance the books, and spit out the financial reports.
If you have recently started your own business and are lacking expertise in the accounting/finance arena, check out the Quick Books software today. Chances are it will fulfill all your needs and eliminate many headaches. There are many other competitors to the Quick Books software package that may meet your needs as well, such as the PeachTree accounting software. Most likely any of these software packages will offer the features and capabilities you will need as your business expands.
Adam Smith is an informational author for 10X Marketing. To learn http://www.oneminutemillionaire.com>the one great way to make money from http://www.oneminutemillionaire.com>Robert Allen with your small business, please visit OneMinuteMillionaire.com.
About the author:
None
Written by: Adam Smith
Protecting Your Finances While Dealing With Your Finance
Navigating the emotional and financial minefield of divorce is one of the toughest things you’ll ever do.
Here’s a somewhat disheartening and sobering fact: the divorce rate in Canada has doubled from that of the early 70s. While the legalities of getting a divorce may have become somewhat easier in the past 30 years, the financial ramifications remain the most intimidating and potentially devastating aspect of ending a significant life partnership.
But with proper planning and expert help from professionals specializing in financially equitable divorce settlements, you can increase your chances of arriving at a settlement that fully addresses your long-term financial needs.
Developing comprehensive insight of the short-and long-term financial effects of divorce can save valuable time, money and distress, especially if the process is conducted early in the legal proceedings. Many separating couples seek individual legal assistance before assessing their financial situation. While lawyers serve a crucial role as individual legal advocates, they are not necessarily there to explain financial consequences in detail.
Misinformation and misconceptions about the divorce process can be detrimental. Many have false expectations that they will be able to secure a divorce settlement allowing them to continue with their accustomed style of living. Financial divorce analysis helps to ensure a good, stable economic future and prevent long-term regret with financial decisions made during the divorce process.
It’s important to realize that divorce is the breakup of an economic unit, as well as a family unit. The process should be approached as a dissolution of a financial partnership, with each party attempting to remove the emotions from the process in order to develop a workable plan. There are three common emotions that are prevalent in the beginning stages of a divorce: fear, anger and guilt. It can be a role of the CDFA™ to recognize these emotions, determine where they are coming from, and help defuse them.
Here are a few key financial elements to be aware of when going through a divorce:
Gather all financial and property records. Obtain records of all bank, and brokerage accounts, insurance policies, retirement plans, tax returns, and other financial data. Develop a comprehensive list of all your property and assets, including furnishings, art objects, jewelry, and investments. Compiling these records is a good first step in any agreement regarding division of assets.
Think through what the divorce will really cost you in the long run and develop a realistic monthly budget during the financial analysis process. Expenses such as life insurance, health insurance and cost of living increases must be taken into consideration when agreeing on a final financial settlement.
No matter how cash-poor you are you must begin savings. If you don't start, you'll never regain your financial footing. Prepare a budget or cash flow analysis even if you've never done one before. Your new financial circumstances should be analyzed. Prepare or at least review your budget with a financial planner may be a better approach. Independent review is vital to avoid "fooling yourself" with overly optimistic assumptions.
Be aware of all tax liabilities and benefits. The monthly distribution of the financial settlement will change individual tax burdens based on the amount of Spousal Support (taxable income to the recipient and tax deductible to the payor) vs. child support (tax neutral for both payor and recipient).
Act quickly to protect your assets. Alert your, bank, brokerage firm, or mutual fund broker of the situation. They may agree not to make transactions on joint accounts without your approval. Immediately establish credit in your own name if you don’t already have it. Revise your estate plan, power of attorney, and beneficiary designations.
Keep the lid on legal fees. Don’t use your lawyer to get back at your ex. A divorce these days is really an economic issue. Most people cannot afford to pay for vengeance. Understand that the meter is running every time you call your Lawyer. Don’t waste your time venting emotional issues or sharing the latest outrage.
Set a realistic housing budget. Don’t let emotion cloud your judgment about keeping the family home. Set a realistic budget that takes into account your mortgage, property taxes, and maintenance. Divorcing women often pass up their ex’s pension in favor of the house—even though the pension may be worth far more in the future.
About The Author
Eva Sachs is a Certified Divorce Financial Analyst (CDFA™), has her CFP™ designation and is a member of the Institute for Divorce Financial Analysts. She can be reached at esachs@womenindivorce.ca Please visit her informative website at www.womenindivorce.ca.
Written by: Eva Sachs
Here’s a somewhat disheartening and sobering fact: the divorce rate in Canada has doubled from that of the early 70s. While the legalities of getting a divorce may have become somewhat easier in the past 30 years, the financial ramifications remain the most intimidating and potentially devastating aspect of ending a significant life partnership.
But with proper planning and expert help from professionals specializing in financially equitable divorce settlements, you can increase your chances of arriving at a settlement that fully addresses your long-term financial needs.
Developing comprehensive insight of the short-and long-term financial effects of divorce can save valuable time, money and distress, especially if the process is conducted early in the legal proceedings. Many separating couples seek individual legal assistance before assessing their financial situation. While lawyers serve a crucial role as individual legal advocates, they are not necessarily there to explain financial consequences in detail.
Misinformation and misconceptions about the divorce process can be detrimental. Many have false expectations that they will be able to secure a divorce settlement allowing them to continue with their accustomed style of living. Financial divorce analysis helps to ensure a good, stable economic future and prevent long-term regret with financial decisions made during the divorce process.
It’s important to realize that divorce is the breakup of an economic unit, as well as a family unit. The process should be approached as a dissolution of a financial partnership, with each party attempting to remove the emotions from the process in order to develop a workable plan. There are three common emotions that are prevalent in the beginning stages of a divorce: fear, anger and guilt. It can be a role of the CDFA™ to recognize these emotions, determine where they are coming from, and help defuse them.
Here are a few key financial elements to be aware of when going through a divorce:
Gather all financial and property records. Obtain records of all bank, and brokerage accounts, insurance policies, retirement plans, tax returns, and other financial data. Develop a comprehensive list of all your property and assets, including furnishings, art objects, jewelry, and investments. Compiling these records is a good first step in any agreement regarding division of assets.
Think through what the divorce will really cost you in the long run and develop a realistic monthly budget during the financial analysis process. Expenses such as life insurance, health insurance and cost of living increases must be taken into consideration when agreeing on a final financial settlement.
No matter how cash-poor you are you must begin savings. If you don't start, you'll never regain your financial footing. Prepare a budget or cash flow analysis even if you've never done one before. Your new financial circumstances should be analyzed. Prepare or at least review your budget with a financial planner may be a better approach. Independent review is vital to avoid "fooling yourself" with overly optimistic assumptions.
Be aware of all tax liabilities and benefits. The monthly distribution of the financial settlement will change individual tax burdens based on the amount of Spousal Support (taxable income to the recipient and tax deductible to the payor) vs. child support (tax neutral for both payor and recipient).
Act quickly to protect your assets. Alert your, bank, brokerage firm, or mutual fund broker of the situation. They may agree not to make transactions on joint accounts without your approval. Immediately establish credit in your own name if you don’t already have it. Revise your estate plan, power of attorney, and beneficiary designations.
Keep the lid on legal fees. Don’t use your lawyer to get back at your ex. A divorce these days is really an economic issue. Most people cannot afford to pay for vengeance. Understand that the meter is running every time you call your Lawyer. Don’t waste your time venting emotional issues or sharing the latest outrage.
Set a realistic housing budget. Don’t let emotion cloud your judgment about keeping the family home. Set a realistic budget that takes into account your mortgage, property taxes, and maintenance. Divorcing women often pass up their ex’s pension in favor of the house—even though the pension may be worth far more in the future.
About The Author
Eva Sachs is a Certified Divorce Financial Analyst (CDFA™), has her CFP™ designation and is a member of the Institute for Divorce Financial Analysts. She can be reached at esachs@womenindivorce.ca Please visit her informative website at www.womenindivorce.ca.
Written by: Eva Sachs
Saturday, May 30, 2009
Personal Finance-Why You Should Compare,Not Despair
Sorting out your personal finances can be a tricky and exasperating time. Whether you are looking to obtain money through a loan, protect your finances with life insurance, medical, travel or car insurance, save some money through an individual savings account (ISA), apply for a credit card or a mortgage, change a telephone or fuel utility supplier, or simply decide what the best current account is for your needs, the choices are seemingly endless as well as being extremely complicated. They can also be potentially serious if you get it wrong. With so many options, and so many companies trying to get you to use their product, it is difficult to know where to turn.
The first method of working out your own finances is to review your needs and compare the products on offer to meet those needs. You could, if desired, visit the banks one by one, burning calories and shoe leather by doing so. Alternatively you may have heard of the World Wide Web, it's like a sort of big and commercial version of Narnia and you don't have to go through your wardrobe to get there. And no freaky men with goats legs …
… not without a login and password anyway.
So, we present the concept of financial product comparison sites, which have been around in the UK since 1997, when small company called moneynet decided to break up the monopoly in the personal finance market. Over the past eight years, there has been an explosion in the number of UK sites seeking to provide information to enable consumers to make informed decisions on their personal finances. These sites provide free consumer financial product comparison services for credit cards, insurance, investments, savings accounts, mortgages, loans, as well as gas and electricity bill suppliers. Additional consumer information services are also often provided such as financial guides, financial newsletters and personal finance calculators. Moneynet, in particular, has a tool which allows registered users to manage all of their accounts online - securely, including credit cards, savings accounts and current accounts.
You can also obtain financial advice from an independent financial advisor, but this is an expensive way of doing what could be done for free with a little effort. If you do your own homework, then you can use your time with an advisor more effectively by asking informed questions. You'll have a better understanding of what you're being sold if you've done a little bit of homework first.
* * * * * * * * * * * * * * * *
Resources:
About the Author
Rachel writes for the personalfinanosaurus Cashzilla
Written by: Rachel Lane
The first method of working out your own finances is to review your needs and compare the products on offer to meet those needs. You could, if desired, visit the banks one by one, burning calories and shoe leather by doing so. Alternatively you may have heard of the World Wide Web, it's like a sort of big and commercial version of Narnia and you don't have to go through your wardrobe to get there. And no freaky men with goats legs …
… not without a login and password anyway.
So, we present the concept of financial product comparison sites, which have been around in the UK since 1997, when small company called moneynet decided to break up the monopoly in the personal finance market. Over the past eight years, there has been an explosion in the number of UK sites seeking to provide information to enable consumers to make informed decisions on their personal finances. These sites provide free consumer financial product comparison services for credit cards, insurance, investments, savings accounts, mortgages, loans, as well as gas and electricity bill suppliers. Additional consumer information services are also often provided such as financial guides, financial newsletters and personal finance calculators. Moneynet, in particular, has a tool which allows registered users to manage all of their accounts online - securely, including credit cards, savings accounts and current accounts.
You can also obtain financial advice from an independent financial advisor, but this is an expensive way of doing what could be done for free with a little effort. If you do your own homework, then you can use your time with an advisor more effectively by asking informed questions. You'll have a better understanding of what you're being sold if you've done a little bit of homework first.
* * * * * * * * * * * * * * * *
Resources:
About the Author
Rachel writes for the personalfinanosaurus Cashzilla
Written by: Rachel Lane
Monday, May 25, 2009
Organizing Your Finance- Show Me Your Finance
Benjamin Franklin once said, * Time is money *. I think he wanted one to
add up how much time they spent on a particular task or job and how much
money they might have been wasting.
I do an exercise with my clients to help them discover what their per minute
worth is to enable them to see how much money they might be losing because
they are disorganized. Such as, if you are doing a non-income producing
activity for 15 minutes, you can see how your money is being spent!
It's a very simple calculation.
Your Per Minute Worth Calculation
Yearly income divided by 52 weeks = weekly income
Weekly Income divided by 40 hours (or total hours you work per week) =
hourly income
Hourly income divided by 60 = Your Per Minute Worth
Before you begin to OverHall and Balance your financial area, you need to
find out your net worth, and your spending habits. This will help assist
you later with your budget, payoffs, or long-term savings. It will also
help in guiding you with such things as your protection, investment, income
tax, retirement, and estate planning.
Your total net worth is your total assets (what you own or already have
saved) minus your total liabilities (what you owe out). I'm not going to
tell you this is as easy as figuring out your per minute worth because it's
not! It will take time and a commitment from you to determine your net
worth.
TIP: I have found the best time to do this exercise is when you are paying
your bills. At that time you usually have the information needed to help you
calculate your net worth. So, if it usually takes you an hour to pay your
bills, tack on at least an extra hour this month for this exercise. For your
convenience, print out and use the net worth form below. You will be
writing in your totals for each line. For instance, if you have two savings
accounts, total your balances first and then write in the total next to
Savings Account.
ASSETS
Cash Reserve Totals-
Certificates of Deposit:
Checking Account:
Credit Union Account:
Money Market Account:
Savings Account:
Investment Totals-
401(k):
Bonds:
Mutual Funds:
Stocks:
Personal Totals-
Art:
Boat:
Car(s):
Furnishings:
Jewelry:
Other:
Real Estate Totals-
Home:
Second Home/Vacation Home:
Other Real Estate:
TOTAL ASSETS: $
LIABILITIES
Short-term Debt Totals-
Credit Card Balances:
Current Bills Owed:
Loans w erms of six years or less:
Taxes:
Long-term Debt Totals-
Loans w erms of seven years or more:
Mortgage(s):
TOTAL LIBILITIES: $
Congratulations! You did it! * Drum roll * Please!
TOTAL ASSETS: $
- (minus) TOTAL LIABILITIES: $
YOUR TOTAL NET WORTH = $
Now see if your net worth falls under A., B., or C. below, and see how you
can begin to bring some balance back to this area of your life.
A. If your total net worth is half or less of your annual income or you have
a negative number you need to REALLY * OverHall * and Balance your financial
area!
~~ Pay off some/all debt
~~ Cut back on spending
~~ Stop charging
~~ Start a savings plan
B. If your total net worth is more than half your annual income but less
than a few years' income you need to * OverHall * and Balance your financial
area.
~~ If you're 40 or under and own a home, you're okay for now
~~ If you're 40 or over and you don't own a home:
`` Cut back on spending
`` Stop charging
`` Reduce debt
`` Increase your savings
`` Buy a home before retiring
C. If your total net worth is more than a few years' of your annual income,
CONGRATULATIONS! Keep doing what you've been doing!
Listed below are some questions to ask yourself now that you know and can
see what your net worth equals.
1. Do you have enough cash reserves to meet your needs?
2. Do you have enough protection to provide money for unforeseen emergencies
(we talked about this last issue)?
3. Do you have enough fixed assets (usually long-term; bonds are an example)
to provide or produce additional income?
4. Do you have enough equity assets (short or long-term; real estate and
stocks are examples) for growth and income?
To answer those questions, you need to know what your family and your needs
and goals are and then plan how you are going to meet them.
Quick Tips to INCREASE Your Assets:
1. Maximize your 401(k) contribution
2. Start investing
3. Get automatic deduction/deposit from paycheck to savings each pay period.
Quick Tips to DECREASE Your Liabilities:
Credit Cards
1. If you have to use a credit card, use only one major card
2. Pay more than the minimum payment on the credit card with the highest
interest rate
3. Stop charging to the highest interest rate credit card
4. Get rid of department store credit cards
5. Don't apply for anymore credit cards
Mortgage(s)
1. Pay a little extra each month towards the PRINCIPAL of your mortgage
payment
2. Drop your PMI (Private Mortgage Insurance) when your home equity exceeds
20% of your home's value (talk to your mortgage lender)
3. Refinance mortgage at a lower interest rate
4. Refinance mortgage at a lower interest rate AND finance for 15 or 20
years instead of the usual 30 years.
5. Pay half your monthly mortgage payment every two weeks (talk to your
lender)
Smiles, not Piles,
Janet L. Hall
The Organizing Wizard, Janet L. Hall, is a Professional
Organizer, Speaker, and Author. She is the owner of
OverHall Consulting, and Organizing By Phone. Subscribe to
her FREE organizing newsletter at
http://www.overhall.com/newsletter.htm or visit
her web site at http://www.overhall.com
Copyright 2000 by OverHall Consulting
P.O. Box 263, Port Republic, MD 20676
All Rights Reserved. Permission is granted to reproduce, copy, or distribute so long as this copyright notice and full information about contacting the author is attached.
About the Author
The Organizing Wizard, Janet L. Hall, is a Professional
Organizer, Speaker, and Author. She is the owner of
OverHall Consulting, and Organizing By Phone. Subscribe to
her FREE organizing newsletter at
http://www.overhall.com/newsletter.htm or visit
her web site at http://www.overhall.com
Written by: Janet L. Hall
add up how much time they spent on a particular task or job and how much
money they might have been wasting.
I do an exercise with my clients to help them discover what their per minute
worth is to enable them to see how much money they might be losing because
they are disorganized. Such as, if you are doing a non-income producing
activity for 15 minutes, you can see how your money is being spent!
It's a very simple calculation.
Your Per Minute Worth Calculation
Yearly income divided by 52 weeks = weekly income
Weekly Income divided by 40 hours (or total hours you work per week) =
hourly income
Hourly income divided by 60 = Your Per Minute Worth
Before you begin to OverHall and Balance your financial area, you need to
find out your net worth, and your spending habits. This will help assist
you later with your budget, payoffs, or long-term savings. It will also
help in guiding you with such things as your protection, investment, income
tax, retirement, and estate planning.
Your total net worth is your total assets (what you own or already have
saved) minus your total liabilities (what you owe out). I'm not going to
tell you this is as easy as figuring out your per minute worth because it's
not! It will take time and a commitment from you to determine your net
worth.
TIP: I have found the best time to do this exercise is when you are paying
your bills. At that time you usually have the information needed to help you
calculate your net worth. So, if it usually takes you an hour to pay your
bills, tack on at least an extra hour this month for this exercise. For your
convenience, print out and use the net worth form below. You will be
writing in your totals for each line. For instance, if you have two savings
accounts, total your balances first and then write in the total next to
Savings Account.
ASSETS
Cash Reserve Totals-
Certificates of Deposit:
Checking Account:
Credit Union Account:
Money Market Account:
Savings Account:
Investment Totals-
401(k):
Bonds:
Mutual Funds:
Stocks:
Personal Totals-
Art:
Boat:
Car(s):
Furnishings:
Jewelry:
Other:
Real Estate Totals-
Home:
Second Home/Vacation Home:
Other Real Estate:
TOTAL ASSETS: $
LIABILITIES
Short-term Debt Totals-
Credit Card Balances:
Current Bills Owed:
Loans w erms of six years or less:
Taxes:
Long-term Debt Totals-
Loans w erms of seven years or more:
Mortgage(s):
TOTAL LIBILITIES: $
Congratulations! You did it! * Drum roll * Please!
TOTAL ASSETS: $
- (minus) TOTAL LIABILITIES: $
YOUR TOTAL NET WORTH = $
Now see if your net worth falls under A., B., or C. below, and see how you
can begin to bring some balance back to this area of your life.
A. If your total net worth is half or less of your annual income or you have
a negative number you need to REALLY * OverHall * and Balance your financial
area!
~~ Pay off some/all debt
~~ Cut back on spending
~~ Stop charging
~~ Start a savings plan
B. If your total net worth is more than half your annual income but less
than a few years' income you need to * OverHall * and Balance your financial
area.
~~ If you're 40 or under and own a home, you're okay for now
~~ If you're 40 or over and you don't own a home:
`` Cut back on spending
`` Stop charging
`` Reduce debt
`` Increase your savings
`` Buy a home before retiring
C. If your total net worth is more than a few years' of your annual income,
CONGRATULATIONS! Keep doing what you've been doing!
Listed below are some questions to ask yourself now that you know and can
see what your net worth equals.
1. Do you have enough cash reserves to meet your needs?
2. Do you have enough protection to provide money for unforeseen emergencies
(we talked about this last issue)?
3. Do you have enough fixed assets (usually long-term; bonds are an example)
to provide or produce additional income?
4. Do you have enough equity assets (short or long-term; real estate and
stocks are examples) for growth and income?
To answer those questions, you need to know what your family and your needs
and goals are and then plan how you are going to meet them.
Quick Tips to INCREASE Your Assets:
1. Maximize your 401(k) contribution
2. Start investing
3. Get automatic deduction/deposit from paycheck to savings each pay period.
Quick Tips to DECREASE Your Liabilities:
Credit Cards
1. If you have to use a credit card, use only one major card
2. Pay more than the minimum payment on the credit card with the highest
interest rate
3. Stop charging to the highest interest rate credit card
4. Get rid of department store credit cards
5. Don't apply for anymore credit cards
Mortgage(s)
1. Pay a little extra each month towards the PRINCIPAL of your mortgage
payment
2. Drop your PMI (Private Mortgage Insurance) when your home equity exceeds
20% of your home's value (talk to your mortgage lender)
3. Refinance mortgage at a lower interest rate
4. Refinance mortgage at a lower interest rate AND finance for 15 or 20
years instead of the usual 30 years.
5. Pay half your monthly mortgage payment every two weeks (talk to your
lender)
Smiles, not Piles,
Janet L. Hall
The Organizing Wizard, Janet L. Hall, is a Professional
Organizer, Speaker, and Author. She is the owner of
OverHall Consulting, and Organizing By Phone. Subscribe to
her FREE organizing newsletter at
http://www.overhall.com/newsletter.htm or visit
her web site at http://www.overhall.com
Copyright 2000 by OverHall Consulting
P.O. Box 263, Port Republic, MD 20676
All Rights Reserved. Permission is granted to reproduce, copy, or distribute so long as this copyright notice and full information about contacting the author is attached.
About the Author
The Organizing Wizard, Janet L. Hall, is a Professional
Organizer, Speaker, and Author. She is the owner of
OverHall Consulting, and Organizing By Phone. Subscribe to
her FREE organizing newsletter at
http://www.overhall.com/newsletter.htm or visit
her web site at http://www.overhall.com
Written by: Janet L. Hall
Thursday, May 21, 2009
Organise Your Finance-Thinking Outside The Shoebox
If you’re like most people, your personal financial records are most probably kept in less than “Good Accounting Practices” standards.
For example, stashing old ATM receipts and hanging on to a stub showing what you paid for a pack of mints two years ago (cash, of course), might be filed with your paycheck stubs, credit card statements – paid and unpaid alike – as well as a few tax forms, a stray paper clip and a penny.
Anything from an old shoebox to a toolbox would do you for this method of personal financial tracking but you can do better than that.
Not to worry. Here’s how:
1) Plan for a few hours of “alone time” with your financial records. This is a dandy time to pack the kids off to the mall, put up a pot of excellent coffee and a little snack (preferably chocolate), as a treat when you’re done.
2) Supply yourself with ample space, such as a large dining room table. Make sure you have enough organizing supplies close at hand: sticky notes, file folders, a tub to hold them with hanging file folders, large envelopes, a check file, ring binder/s and a three-hole punch if you like, an open stacking file, and an organizer/sorter. A trash can by your side is a must.
3) Get everything from everyplace – shoe boxes, check files, file folders, etc.
4) While enjoying your cup of coffee, make a game plan. Decide what you’re going to put where: e.g., checks and statements go in a specific file for checks and statements, credit card statements can be unfolded and placed in a file folder, etc.
5) Start sorting on the table. Checks go here, ATM receipts go there, paycheck stubs go over there, paid bills go on the other side, etc. until all the “stuff” is divided into neatly organized piles. Use sticky notes to mark what-goes-where on the table to avoid confusion.
6) Put all the “paid” items away first. Be ruthless – it’s perfectly okay to toss the receipt for those mints from two years ago.
7) Put the rest of the inactive items in the envelopes, file folders, check files or other storage devices as are interesting, functional, and readily available from your local office supply store.
8) Have another cup of coffee and tackle the active, or open, items. Decide what you’re going to pay and when. If you have an open stacking file, you will find one with four compartments (one for each week of the month), very handy for this purpose.
9) Balance your checkbook. Now.
10) Enjoy your chocolate after putting everything away where it belongs and, oh, by the way, check the calendar for when you’ll be doing this again next month.
Of course, next month this will all be done much faster.
I highly recommend using technology to make this much easier and faster. Programs like Quicken and Microsoft Money will help. Really any spreadsheet program will do.
Have a category for each life area you spend money. Once a week or month take your receipts, checkbook records and scribbled notes and record where you spent ALL your money....every penny. One of my students was shocked to find out he was spending $75 per month on orange juice!
Legend has it that the Rockefeller boys kept track of all their spending and they turned out alright.
This time next year you’ll wish you started today.
About the Author
Leo J. Quinn, Jr. owner of www.LeoQuinn.com is a financial educator from the Albany, NY area. For over eight years he has been helping thousands of people get control of their finances and get out of debt in a fraction of the normal time. He has a special offer for readers of this newsletter at http://www.1shoppingcart.com/app/adtrack.asp?AdID=132551
Written by: Leo J Quinn Jr
Get Paid To Complete Offers
For example, stashing old ATM receipts and hanging on to a stub showing what you paid for a pack of mints two years ago (cash, of course), might be filed with your paycheck stubs, credit card statements – paid and unpaid alike – as well as a few tax forms, a stray paper clip and a penny.
Anything from an old shoebox to a toolbox would do you for this method of personal financial tracking but you can do better than that.
Not to worry. Here’s how:
1) Plan for a few hours of “alone time” with your financial records. This is a dandy time to pack the kids off to the mall, put up a pot of excellent coffee and a little snack (preferably chocolate), as a treat when you’re done.
2) Supply yourself with ample space, such as a large dining room table. Make sure you have enough organizing supplies close at hand: sticky notes, file folders, a tub to hold them with hanging file folders, large envelopes, a check file, ring binder/s and a three-hole punch if you like, an open stacking file, and an organizer/sorter. A trash can by your side is a must.
3) Get everything from everyplace – shoe boxes, check files, file folders, etc.
4) While enjoying your cup of coffee, make a game plan. Decide what you’re going to put where: e.g., checks and statements go in a specific file for checks and statements, credit card statements can be unfolded and placed in a file folder, etc.
5) Start sorting on the table. Checks go here, ATM receipts go there, paycheck stubs go over there, paid bills go on the other side, etc. until all the “stuff” is divided into neatly organized piles. Use sticky notes to mark what-goes-where on the table to avoid confusion.
6) Put all the “paid” items away first. Be ruthless – it’s perfectly okay to toss the receipt for those mints from two years ago.
7) Put the rest of the inactive items in the envelopes, file folders, check files or other storage devices as are interesting, functional, and readily available from your local office supply store.
8) Have another cup of coffee and tackle the active, or open, items. Decide what you’re going to pay and when. If you have an open stacking file, you will find one with four compartments (one for each week of the month), very handy for this purpose.
9) Balance your checkbook. Now.
10) Enjoy your chocolate after putting everything away where it belongs and, oh, by the way, check the calendar for when you’ll be doing this again next month.
Of course, next month this will all be done much faster.
I highly recommend using technology to make this much easier and faster. Programs like Quicken and Microsoft Money will help. Really any spreadsheet program will do.
Have a category for each life area you spend money. Once a week or month take your receipts, checkbook records and scribbled notes and record where you spent ALL your money....every penny. One of my students was shocked to find out he was spending $75 per month on orange juice!
Legend has it that the Rockefeller boys kept track of all their spending and they turned out alright.
This time next year you’ll wish you started today.
About the Author
Leo J. Quinn, Jr. owner of www.LeoQuinn.com is a financial educator from the Albany, NY area. For over eight years he has been helping thousands of people get control of their finances and get out of debt in a fraction of the normal time. He has a special offer for readers of this newsletter at http://www.1shoppingcart.com/app/adtrack.asp?AdID=132551
Written by: Leo J Quinn Jr
Get Paid To Complete Offers
Monday, May 18, 2009
Non Homeowner Loans-Creating A Source of Finance For The Homeless
Because of the preference that loan providers show for the homeowners, you have started having feelings of jealousy against them. Your experience with lenders shows that there are not much takers for you as a non homeowner. However, we feel that you are still half informed. Though, loan providers' preference for homeowners is well known, it isn't that they do not cater to the borrowers other than homeowners. So, you as non-homeowners too can get good deals in non homeowner loans.
Aimed specifically at the people who do not have a landed property of their own, Non homeowner loans are the only hope of this category of people. Tenants, both council tenants and tenants with private lenders, can get their financial needs covered through the non homeowner loan. The category also includes people who have been living with their parents in their parent house.
Non homeowner loan is generally offered as an unsecured personal loan. However, when borrowers agree to pledge certain other assets as collateral, then the loan is converted into a secured loan.
The best part of the non homeowner loan is that there is not much to lose. You haven't pledged anything or the asset pledged is not as important as a home in homeowner loan. Non homeowner loans do not haunt borrowers with the repossession fears, which is so characteristic of the homeowner loans.
This means that the lenders are at a risk of losing the money lent as non homeowner loan. While the money can be recovered by suing the borrower for the non payment, the process is often long drawn and costs dearly to the loan providers too.
It is because of this risk that loan providers desire the borrowers to have a good credit history. Borrowers who have a good credit history imply that they are less drawn towards non payment. Those with a bad credit history may find a large majority of loan providers running away from them. Since, it is the credit history that acts as a guarantee for the borrower in the absence of collateral, loan providers will find it difficult to ignore bad credit history.
This does not put a full stop on the chances of the bad credit borrowers to get non homeowner loans. Certain loan providers do have deals for the borrowers with a lower credit score, i.e. bad credit history.
Borrowers wishing to take up non homeowner loans need to fulfil the following essential requirements:
* The borrower must be in full time employment. * Computerised pay slips are used for paying the borrower. * Bank account must have a direct debit facility. * The proofs of identification and residence must be ready. * The borrower must have been regular in making rent payments. * The borrower must have a home telephone line or a mobile (if it is a mobile, a copy of the agreement must be produced)
The non homeowner loan can be used for as many purposes as a homeowner loan. These are consolidating debts, purchasing cars etc. However, you need to understand that the amount available under non homeowner loan is not at par with the homeowner loans. The lower amount may be the result of increased risk. In money terms, the amount under homeowner loans can range from £1,000 to £50,000 over a period of 1 to 25 years.
You would surely not be complaining after learning about non homeowner loans. Though the terms under non homeowner loans are not as attractive as homeowner loans, borrowers cannot help because of the vast differences in the circumstances of the homeowners and non homeowners. Also, there are not much finance options for non homeowners other than to take non homeowner loans.
Steve Clark can tell you how to look better, live better and breathe better by giving you tips to improve your finances.He writes on loans. His ideas can help you rejuvenate your money.To find Secured homeowner loans,bad credit homeowner loans,online homeowner loans,non homeowner loans visit http://www.easyhomeown erloans.co.uk.
About the author:
Steve Clark can tell you how to look better, live better and breathe better by giving you tips to improve your finances.He writes on loans. His ideas can help you rejuvenate your money.To find Secured homeowner loans,bad credit homeowner loans,online homeowner loans,non homeowner loans visit http://www.easyhomeownerloans.co.uk.
Written by: Steve Clark
Aimed specifically at the people who do not have a landed property of their own, Non homeowner loans are the only hope of this category of people. Tenants, both council tenants and tenants with private lenders, can get their financial needs covered through the non homeowner loan. The category also includes people who have been living with their parents in their parent house.
Non homeowner loan is generally offered as an unsecured personal loan. However, when borrowers agree to pledge certain other assets as collateral, then the loan is converted into a secured loan.
The best part of the non homeowner loan is that there is not much to lose. You haven't pledged anything or the asset pledged is not as important as a home in homeowner loan. Non homeowner loans do not haunt borrowers with the repossession fears, which is so characteristic of the homeowner loans.
This means that the lenders are at a risk of losing the money lent as non homeowner loan. While the money can be recovered by suing the borrower for the non payment, the process is often long drawn and costs dearly to the loan providers too.
It is because of this risk that loan providers desire the borrowers to have a good credit history. Borrowers who have a good credit history imply that they are less drawn towards non payment. Those with a bad credit history may find a large majority of loan providers running away from them. Since, it is the credit history that acts as a guarantee for the borrower in the absence of collateral, loan providers will find it difficult to ignore bad credit history.
This does not put a full stop on the chances of the bad credit borrowers to get non homeowner loans. Certain loan providers do have deals for the borrowers with a lower credit score, i.e. bad credit history.
Borrowers wishing to take up non homeowner loans need to fulfil the following essential requirements:
* The borrower must be in full time employment. * Computerised pay slips are used for paying the borrower. * Bank account must have a direct debit facility. * The proofs of identification and residence must be ready. * The borrower must have been regular in making rent payments. * The borrower must have a home telephone line or a mobile (if it is a mobile, a copy of the agreement must be produced)
The non homeowner loan can be used for as many purposes as a homeowner loan. These are consolidating debts, purchasing cars etc. However, you need to understand that the amount available under non homeowner loan is not at par with the homeowner loans. The lower amount may be the result of increased risk. In money terms, the amount under homeowner loans can range from £1,000 to £50,000 over a period of 1 to 25 years.
You would surely not be complaining after learning about non homeowner loans. Though the terms under non homeowner loans are not as attractive as homeowner loans, borrowers cannot help because of the vast differences in the circumstances of the homeowners and non homeowners. Also, there are not much finance options for non homeowners other than to take non homeowner loans.
Steve Clark can tell you how to look better, live better and breathe better by giving you tips to improve your finances.He writes on loans. His ideas can help you rejuvenate your money.To find Secured homeowner loans,bad credit homeowner loans,online homeowner loans,non homeowner loans visit http://www.easyhomeown erloans.co.uk.
About the author:
Steve Clark can tell you how to look better, live better and breathe better by giving you tips to improve your finances.He writes on loans. His ideas can help you rejuvenate your money.To find Secured homeowner loans,bad credit homeowner loans,online homeowner loans,non homeowner loans visit http://www.easyhomeownerloans.co.uk.
Written by: Steve Clark
New Website Launched For Consumer Finance and Education
Credit Card Management Services, Inc. is a fully licensed 501(c)(3), non-profit, credit counseling agency whose mission is to provide compassionate, professional debt management counseling and education in an ethical manner with efficient, timely and problem-solving client support.
Since 1996, CCMS has helped thousands of consumers gain financial stability through credit counseling, personal finance education and debt management solutions. Located in West Palm Beach, CCMS provides our services to consumers in over 40 states. CCMS prides itself in being a customer-service oriented, education-driven agency.
CCMS offers credit counseling, budget analysis and personal finance education to all consumers that seek our assistance. Consumers that contact CCMS are directed to one of our certified credit counselors who review their unique financial situation. During this initial counseling session a credit counselor will review a client’s current outstanding financial obligations, both secured and unsecured, as well as their monthly budget. Our counselors carefully analyze and assess the client’s financial situation and recommend a course of action that helps them meet their financial needs.
CCMS provides debt management plans to those clients that show significant need. The debt management plan, in most cases, allows consumers to reduce their monthly payments and interest rates while giving them a fresh start on paying off delinquent accounts. When combined with effective credit counseling, a debt management plan can provide consumers with the tools to become and - more importantly- stay debt free.
CCMS believes that a proactive approach to education and counseling is the best approach. In addition to providing credit and budgeting counseling on an individual basis, CCMS also participates in local housing fairs, credit seminars and similar events to help promote financial awareness. CCMS offers free, on-site budgeting, personal finance and credit seminars to local schools, community development corporations and community groups in the South Florida area.
Please visit the website at http://www.debthelper.com
Lisa was hired by CCMS in February, 2003 as a customer service representative. She learned very quickly and was a big part of the renaissance of that department through hard work and dedication. Lisa was selected for the Counseling Department in the summer of 2003 and in January, 2004 was promoted to her current position as Counseling Manager.
As a counselor, Lisa quickly became a leader and advocate for her clients. As manager, she has organized the department to provide maximum coverage and a new system where 94% of incoming calls to the Counseling Department are answered by a live person. Lisa also played a huge roll in the design and feel of our website.
Despite her many assignments and projects, Lisa always has time to work with her current clients. She received many complementary client testimonials concerning the professional handling of the debt management program, but more importantly praising Lisa’s caring, personal and caring touch.
Copyright 2004 Credit Card Management Services, Inc.
llambert@debthelper.com
Since 1996, CCMS has helped thousands of consumers gain financial stability through credit counseling, personal finance education and debt management solutions. Located in West Palm Beach, CCMS provides our services to consumers in over 40 states. CCMS prides itself in being a customer-service oriented, education-driven agency.
CCMS offers credit counseling, budget analysis and personal finance education to all consumers that seek our assistance. Consumers that contact CCMS are directed to one of our certified credit counselors who review their unique financial situation. During this initial counseling session a credit counselor will review a client’s current outstanding financial obligations, both secured and unsecured, as well as their monthly budget. Our counselors carefully analyze and assess the client’s financial situation and recommend a course of action that helps them meet their financial needs.
CCMS provides debt management plans to those clients that show significant need. The debt management plan, in most cases, allows consumers to reduce their monthly payments and interest rates while giving them a fresh start on paying off delinquent accounts. When combined with effective credit counseling, a debt management plan can provide consumers with the tools to become and - more importantly- stay debt free.
CCMS believes that a proactive approach to education and counseling is the best approach. In addition to providing credit and budgeting counseling on an individual basis, CCMS also participates in local housing fairs, credit seminars and similar events to help promote financial awareness. CCMS offers free, on-site budgeting, personal finance and credit seminars to local schools, community development corporations and community groups in the South Florida area.
Please visit the website at http://www.debthelper.com
Lisa was hired by CCMS in February, 2003 as a customer service representative. She learned very quickly and was a big part of the renaissance of that department through hard work and dedication. Lisa was selected for the Counseling Department in the summer of 2003 and in January, 2004 was promoted to her current position as Counseling Manager.
As a counselor, Lisa quickly became a leader and advocate for her clients. As manager, she has organized the department to provide maximum coverage and a new system where 94% of incoming calls to the Counseling Department are answered by a live person. Lisa also played a huge roll in the design and feel of our website.
Despite her many assignments and projects, Lisa always has time to work with her current clients. She received many complementary client testimonials concerning the professional handling of the debt management program, but more importantly praising Lisa’s caring, personal and caring touch.
Copyright 2004 Credit Card Management Services, Inc.
llambert@debthelper.com
Friday, May 15, 2009
MoneyNet Adds Weight To Intelligent Finance.
Moneynet adds weight to intelligent finance with new personal finance product guides
Moneynet.co.uk, the UK’s longest established online personal finance information website, has recently published three online product guides to help consumers get to grips with the increasing complexity of personal finance products.
With a strong stance on ethical finance, the company felt it was important to be proactive on educating consumers about the different aspects of credit related products to get the best deal. This is crucial, as a recent report by Credit Action indicates that less than the half of adults are financially literate, which drops to a third for young adults aged between 21 and 24.
According to the National Statistics website, 91% of men and 90% of women in the UK have at least one credit card, collectively accumulating over £54.3 billion of debt. Credit Action, a national money education charity, states that 50% of the people who take out credit in shops, hadn’t planned to do so
when they left home. This is particularly serious as store cards often present the highest rate of interest, indicating either a lack of awareness or understanding on the part of the consumer, or worse a lack of concern about the possible consequences. A survey published last year by the Office of Fair
Trading showed that whilst 60% of cardholders thought they had a good understanding of credit cards, they were unable to answer specific questions or extract key information, such as the APR, fees for late payment or cash withdrawal.
There are currently three guides available on http://www.moneynet.co.uk, covering credit cards, mortgages and loans. In addition to explaining the different aspects of credit application, moneynet also offer a glossary of key terms in the resources section to help visitors gain a complete
understanding of the best product for their needs. Further guides are due to be published later this year.
About the Author
Moneynet.co.uk is the UK's longest established, online personal finance research and data website.
E-mail: INFO@MONEYNET.CO.UK
Telephone: 020 8313 9030
Website: http://www.moneynet.co.uk
ADDRESS: Moneynet
Sussex House
8-10 Homesdale Road
Bromley
Kent
BR2 9LZ
Written by: moneynet
Moneynet.co.uk, the UK’s longest established online personal finance information website, has recently published three online product guides to help consumers get to grips with the increasing complexity of personal finance products.
With a strong stance on ethical finance, the company felt it was important to be proactive on educating consumers about the different aspects of credit related products to get the best deal. This is crucial, as a recent report by Credit Action indicates that less than the half of adults are financially literate, which drops to a third for young adults aged between 21 and 24.
According to the National Statistics website, 91% of men and 90% of women in the UK have at least one credit card, collectively accumulating over £54.3 billion of debt. Credit Action, a national money education charity, states that 50% of the people who take out credit in shops, hadn’t planned to do so
when they left home. This is particularly serious as store cards often present the highest rate of interest, indicating either a lack of awareness or understanding on the part of the consumer, or worse a lack of concern about the possible consequences. A survey published last year by the Office of Fair
Trading showed that whilst 60% of cardholders thought they had a good understanding of credit cards, they were unable to answer specific questions or extract key information, such as the APR, fees for late payment or cash withdrawal.
There are currently three guides available on http://www.moneynet.co.uk, covering credit cards, mortgages and loans. In addition to explaining the different aspects of credit application, moneynet also offer a glossary of key terms in the resources section to help visitors gain a complete
understanding of the best product for their needs. Further guides are due to be published later this year.
About the Author
Moneynet.co.uk is the UK's longest established, online personal finance research and data website.
E-mail: INFO@MONEYNET.CO.UK
Telephone: 020 8313 9030
Website: http://www.moneynet.co.uk
ADDRESS: Moneynet
Sussex House
8-10 Homesdale Road
Bromley
Kent
BR2 9LZ
Written by: moneynet
Marriage Finance 101
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Marriage is a wonderful thing, but planning the wedding is a difficult task. The coming together leaves many things as an afterthought to the wedding. Each has their own credit cards, checking accounts, and utility bills. Hopefully, neither has a lot of debt.
Most people do not think about finances when they are getting married. It takes the romance out of it. But it is necessary to make some sort of arrangements, or at least a plan of how to get things consolidated.
Let’s start with checking accounts. There are a couple ways to go about it. Many financial experts believe that you should keep your individual accounts. It will be easier to manage and keep track of transactions with only one hand in the cookie jar.
Open up a joint account for your expenditures. Each should deposit a certain percent into the joint account to cover your allotted expenditure budget. What is left over can be deposited into your separate accounts and savings account.
Credit cards are a different story. Each of you will probably have numerous cards of your own. Take an evening and call all of the issuing banks. Tell them that you just got married and are eliminating some of your accounts. Whichever card issuers give you the best rates are the ones you keep. They will add your spouse onto the account with a phone call and send out your new cards.
Settling your accounts is easy it just takes a little time. It is best to take care of these matters quickly, as time will not make it any easier. Some of the institutions may ask for your marriage license, and be prepared to send it. They will send it back if you provide a self addressed stamped envelope.
About the Author
Robb Ksiazek is a successful author and publisher for http://www.checks-4u.com>Checks-4U.com. He has researched and written hundreds of articles and can simplify your online search by recommending merchants for the best value and selections in http://www.checks-4u.com/Personal%20Checks.htm>business or personal checks, address labels, rubber stamps and envelopes.
Written by: Robb Ksiazek
Managing Your Finance Once You Are Married
It's important to plan for your financial future beforehand so you have idea of what to expect. Once you get married, most newlyweds' open a joint checking/saving accounts
Below is a list of 4 easy steps to take when determining your financial future.
Step 1-Determine your net worth
Net worth is the difference between assets and liabilities. Make a list to figure out your net worth, make a list of all the things that you own and assign approximate values to each one. Then make a list of all your debts. Subtract these two numbers and you will have your net worth.
Step 2- Family accounting
You will need to decide who is going to manage your accounting. Is one partner going to manage the finances or will this be a shared responsibility? Are you going to choose to handle the finances independently, if not you will need to create a system of whose going to pay the bills.
Step 3- Set goals
Statistics are showing that 95% of senior citizens can't afford to retire. Set goals and start saving for your future today. Create short-term goals and long-term goals. Make sure when you set your goals that you are actually striving for them so they should be adjusted to your spending lifestyle
Step 4- Plan for adjusting your finances once married
Many couples get married without having a financial plan in mind. It's very important to discuss your financial situation before tying the knot that way everything is out in the open. If you don't want to deal with thinking of financial strategies get help from a financial planner for any needed advice.
About the Author
Read more marriage and finance articles at http://marriedfinances.com - View our marriage and finance resource directory at http://successfulmarriageresource.com
Written by: Kelly Kennedy
Sunday, May 10, 2009
Managing Your Finances During A Crisis
All tsunamis, hurricanes and medical atrocities aside, there’s more to crisis proofing deadly and financial catastrophes. In the realm of protecting one’s family from the devastation of financial dire straits, a simple plan starts with a budget. If only the American family learned to spend significantly less of their income, financial crises would almost become extinct.
The formula for financial solace is to reduce the outgoing budget to be applied to a savings account or market fund. The 30+ million Americans ensconced in debt could lower their stress rates and genuinely enjoy life if they put an end to over extending finances. Living from month to month impairs the quality of life issue.
Being financially devastated can be a paralyzing situation. Despite an adequate salary and a dependable job, families across the United States continue to be challenged by making their means last from month to month.
Pre-Crisis Financial Planning
Starting a savings account or plan features a surefire way to be prepared for unforeseen costly emergencies. It could be anything from a malfunctioning boiler or a household flood. In lieu of the family crisis, being prepared financially can cushion the devastation of the event. Nevertheless, learning new spending habits may be challenging for a compulsive spender. Keeping up with the Joneses is not worth the superficiality of terminal financial distress.
Obviously, there are only two solutions to the spending deficit equation; either:
Increase one’s salary significantly
Start living below your financial means drastically.
Unfortunately, not everyone is able to achieve either objective. In fact, for many consumers they require both goals to the spending objective, start making more and stop spending until they can see their w ay out of the red. As the old adage, “The more you make, the more you want” is true. But the problem grows when people begin to spend more than they make.
The end result is a financial avalanche. Even if you think that you have the rob Peter to pay Paul down pat, it’s only a matter of time before everything could snowball. The reality is that the only financial rescue team available to you may be a personal loan or debt consolidation loan.
To prevent the dominoes’ effect of financial stress take over here are a few steps to quell your finances in the right direction:
Compile a list of current bills
Devise a list of household operations
Review areas to cut spending (ordering out, entertainment, shopping sprees, etc)
Develop a balanced budget to live on only 60 percent of your household income
Sell any personal commodities that are beyond one’s financial means.
Get organized on your PC with either a Quicken or Microsoft program.
Work to balance your budget by paying of bills
Detail a goal with realistic terms
Stock between five and ten percent a month into a savings account or a money market account on a regular basis.
Fast Debt Solution
Since the idea of taking on a second job is an unpopular choice for most people, a rapid debt solution is a debt consolidation loan. Since the loan is designed to pay-off current debt and stretch out the repayment term over time, it can be the ultimate debt solution for managing one’s finances.
Financial Crisis Savers
Personal loans are either secured or unsecured loans. Secured loans place the borrower’s property up for collateral. (For example, a house, real estate property or a high end recreational vehicle). An unsecured loan usually has a higher interest rate. Since the financial institution is at greater risk of a defaulted loan for a person with poor credit, the fees are reflected in the interest rate.
Pretty straightforward, debt consolidation loans – repay all current bills. Then the loan charges the borrower an interest and monthly charge. For its overall convenience and ease is considered an immediate way of quelling financial stress.
For the type of emergency, where one needs less than a thousand dollars, a payday loan is just the remedy. The best way to outsmart a payday loan is by paying the loan immediately and avoiding going with a plan that has a pre-payment penalty.
During a family or financial crisis it’s comforting to know that financial squadrons otherwise known as debt consolidation, personal loans or even payday loans may be the option for a monetary rescue.
© About-Personal-Loans.com. All rights reserved.
About The Author
Holly Bentz is a finance writer and a contributor to About Personal Loans.
About-Personal-Loans.com
Written by: Holly Bentz
The formula for financial solace is to reduce the outgoing budget to be applied to a savings account or market fund. The 30+ million Americans ensconced in debt could lower their stress rates and genuinely enjoy life if they put an end to over extending finances. Living from month to month impairs the quality of life issue.
Being financially devastated can be a paralyzing situation. Despite an adequate salary and a dependable job, families across the United States continue to be challenged by making their means last from month to month.
Pre-Crisis Financial Planning
Starting a savings account or plan features a surefire way to be prepared for unforeseen costly emergencies. It could be anything from a malfunctioning boiler or a household flood. In lieu of the family crisis, being prepared financially can cushion the devastation of the event. Nevertheless, learning new spending habits may be challenging for a compulsive spender. Keeping up with the Joneses is not worth the superficiality of terminal financial distress.
Obviously, there are only two solutions to the spending deficit equation; either:
Increase one’s salary significantly
Start living below your financial means drastically.
Unfortunately, not everyone is able to achieve either objective. In fact, for many consumers they require both goals to the spending objective, start making more and stop spending until they can see their w ay out of the red. As the old adage, “The more you make, the more you want” is true. But the problem grows when people begin to spend more than they make.
The end result is a financial avalanche. Even if you think that you have the rob Peter to pay Paul down pat, it’s only a matter of time before everything could snowball. The reality is that the only financial rescue team available to you may be a personal loan or debt consolidation loan.
To prevent the dominoes’ effect of financial stress take over here are a few steps to quell your finances in the right direction:
Compile a list of current bills
Devise a list of household operations
Review areas to cut spending (ordering out, entertainment, shopping sprees, etc)
Develop a balanced budget to live on only 60 percent of your household income
Sell any personal commodities that are beyond one’s financial means.
Get organized on your PC with either a Quicken or Microsoft program.
Work to balance your budget by paying of bills
Detail a goal with realistic terms
Stock between five and ten percent a month into a savings account or a money market account on a regular basis.
Fast Debt Solution
Since the idea of taking on a second job is an unpopular choice for most people, a rapid debt solution is a debt consolidation loan. Since the loan is designed to pay-off current debt and stretch out the repayment term over time, it can be the ultimate debt solution for managing one’s finances.
Financial Crisis Savers
Personal loans are either secured or unsecured loans. Secured loans place the borrower’s property up for collateral. (For example, a house, real estate property or a high end recreational vehicle). An unsecured loan usually has a higher interest rate. Since the financial institution is at greater risk of a defaulted loan for a person with poor credit, the fees are reflected in the interest rate.
Pretty straightforward, debt consolidation loans – repay all current bills. Then the loan charges the borrower an interest and monthly charge. For its overall convenience and ease is considered an immediate way of quelling financial stress.
For the type of emergency, where one needs less than a thousand dollars, a payday loan is just the remedy. The best way to outsmart a payday loan is by paying the loan immediately and avoiding going with a plan that has a pre-payment penalty.
During a family or financial crisis it’s comforting to know that financial squadrons otherwise known as debt consolidation, personal loans or even payday loans may be the option for a monetary rescue.
© About-Personal-Loans.com. All rights reserved.
About The Author
Holly Bentz is a finance writer and a contributor to About Personal Loans.
About-Personal-Loans.com
Written by: Holly Bentz
Managing Finances For Better Credit Rating
In the world of finances it is all about managing debt to maximize one’s buying power. Since a consumer’s credit score has a direct correlation on any financing or loan authorization, reviewing the accuracy of a credit report is a consumer savvy. Consequently, managing one’s personal finances for a better credit rating is critical.
Did you know that when financial institutions consider authorizing loan approval, they review your payment history? Even if you were unemployed when you were inundated with medical bills, the balance will appear on the credit report.
FACT: Over thirty-five percent of American consumers impaired with a low credit score -- due to expensive hospital and medical bills.
About Your Credit Report Card
A credit report is very similar to an adult life quality report card. It details such personal information as:
Where a consumer works
Where the individual resides
Have you ever been convicted of a crime
Has the individual ever been involved in a lawsuit or claim
How you pay your bills
Credit reports or your report card are kept by organizations referred to as consumer reporting agencies (CRAs). These credit bureaus collect, compile and sell consumers credit documents to businesses. Banks and lending institutions approve applications based on credit. Certain insurance companies and employers evaluate one’s credit before writing a policy or extending employment.
Subsequently, Americans should always review their credit score to ensure the information is accurate. Financial advisors recommend that all consumers should report any updated, omissions or inaccuracies. Specifically, for the person planning to apply for a mortgage, auto loan or other personal loans (secured or non-secured) an exact truthful credit report is important. Moreover, the Fair Credit Reporting Act (FCRA) authorizes consumers the opportunity to submit corrections.
Another aspect of managing one’s finances with a better credit score is by checking the accuracy of information detailed on the credit file. Nonetheless, it may drastically accelerate the credit-granting process.
On the other side of the spectrum, consumers who are denied credit have the right to acquire the following information:
The credit bureau’s name (CRA)
The CRAs address and all contact information
A copy of a free report within 60 days of a denial
In lieu of fraud, being on welfare or unemployment, consumers a allowed one complimentary copy of their credit report
Generally, the cost of a credit report starts at nine dollars.
Credit Reporting Agencies and Credit Bureaus
There are three major credit bureau agencies (Experian, Trans Union and Equifax). All agencies may have different information about a consumer. To compare and check all your credit files from all the top agencies, here is their address:
Experian
P.O. Box 2002,
Allen, TX 75013
(888) EXPERIAN (397-3742)
Trans Union
P.O. Box 1000
Chester, PA 19022
(800) 916-8800
Equifax
P.O. Box 740241
Atlanta, GA 30374-0241
(800) 685-1111
After you obtain a copy of your credit report, the first step to managing your finances begins with noting any discrepancies. Then, protect your rights under the FCRA Act by contacting the source of the erroneous information and the credit reporting agency by writing a letter.
Sample Dispute Letter
Date
(Your Information)
Name Address City, State, Zip Code
Complaint/Dispute Department Name of Credit Reporting Bureau Address City, State, Postal Code
To Whom It May Concern:
Attached you will find a copy of a report I received. The items of dispute are circled on the attached copy of the report I received.
1.) (Detail the disputed items in a list with the credit account, name of the creditor the type of item, such as credit account or judgment etcetera)
This above item is (inaccurate) because (detail what item is inaccurate or incomplete and why). I am requesting that the above named item be removed or corrected (or state the specific change).
Attached you will find copies (describe any enclosures that depict a record of payments or any court documents) which demonstrate my position. Please research this issue and (remove or amend) the disputed item(s) as soon as possible.
Regards,
Your name
Enclosures: (List what you are enclosing)
Remember to include duplicates (only) of the documents that corroborate the correction.
Facts about Accurate but Negative Credit Report Information
There are scenarios where negative information may be accurate. Unfortunately, there is a general period of time that the information must remain on a credit report. Usually, the time limit is seven months; however the following list details the exceptions:
Any information regarding criminal convictions may be reported for an unlimited time span.
Any credit information provided as a response to an application for a salary position worth over $75,000 does not have a time limit.
Bankruptcy information can remain on a report up to ten years or more.
All credit information reported as a result of an application worth over $150,000 of credit or life insurance does not have a limit.
Any unpaid judgments or lawsuits have a credit report life of seven years or more -- until the statute of limitations has expired (whichever is longer).
In summation, despite negative accurate information, paying your bills on time and correcting any errors is a good way to manage your finances for a better credit rating.
© About-Personal-Loans.com. All rights reserved.
About The Author
Holly Bentz is a finance writer and a contributor to About Personal Loans.
About-Personal-Loans.com
Written by: Holly Bentz
Did you know that when financial institutions consider authorizing loan approval, they review your payment history? Even if you were unemployed when you were inundated with medical bills, the balance will appear on the credit report.
FACT: Over thirty-five percent of American consumers impaired with a low credit score -- due to expensive hospital and medical bills.
About Your Credit Report Card
A credit report is very similar to an adult life quality report card. It details such personal information as:
Where a consumer works
Where the individual resides
Have you ever been convicted of a crime
Has the individual ever been involved in a lawsuit or claim
How you pay your bills
Credit reports or your report card are kept by organizations referred to as consumer reporting agencies (CRAs). These credit bureaus collect, compile and sell consumers credit documents to businesses. Banks and lending institutions approve applications based on credit. Certain insurance companies and employers evaluate one’s credit before writing a policy or extending employment.
Subsequently, Americans should always review their credit score to ensure the information is accurate. Financial advisors recommend that all consumers should report any updated, omissions or inaccuracies. Specifically, for the person planning to apply for a mortgage, auto loan or other personal loans (secured or non-secured) an exact truthful credit report is important. Moreover, the Fair Credit Reporting Act (FCRA) authorizes consumers the opportunity to submit corrections.
Another aspect of managing one’s finances with a better credit score is by checking the accuracy of information detailed on the credit file. Nonetheless, it may drastically accelerate the credit-granting process.
On the other side of the spectrum, consumers who are denied credit have the right to acquire the following information:
The credit bureau’s name (CRA)
The CRAs address and all contact information
A copy of a free report within 60 days of a denial
In lieu of fraud, being on welfare or unemployment, consumers a allowed one complimentary copy of their credit report
Generally, the cost of a credit report starts at nine dollars.
Credit Reporting Agencies and Credit Bureaus
There are three major credit bureau agencies (Experian, Trans Union and Equifax). All agencies may have different information about a consumer. To compare and check all your credit files from all the top agencies, here is their address:
Experian
P.O. Box 2002,
Allen, TX 75013
(888) EXPERIAN (397-3742)
Trans Union
P.O. Box 1000
Chester, PA 19022
(800) 916-8800
Equifax
P.O. Box 740241
Atlanta, GA 30374-0241
(800) 685-1111
After you obtain a copy of your credit report, the first step to managing your finances begins with noting any discrepancies. Then, protect your rights under the FCRA Act by contacting the source of the erroneous information and the credit reporting agency by writing a letter.
Sample Dispute Letter
Date
(Your Information)
Name Address City, State, Zip Code
Complaint/Dispute Department Name of Credit Reporting Bureau Address City, State, Postal Code
To Whom It May Concern:
Attached you will find a copy of a report I received. The items of dispute are circled on the attached copy of the report I received.
1.) (Detail the disputed items in a list with the credit account, name of the creditor the type of item, such as credit account or judgment etcetera)
This above item is (inaccurate) because (detail what item is inaccurate or incomplete and why). I am requesting that the above named item be removed or corrected (or state the specific change).
Attached you will find copies (describe any enclosures that depict a record of payments or any court documents) which demonstrate my position. Please research this issue and (remove or amend) the disputed item(s) as soon as possible.
Regards,
Your name
Enclosures: (List what you are enclosing)
Remember to include duplicates (only) of the documents that corroborate the correction.
Facts about Accurate but Negative Credit Report Information
There are scenarios where negative information may be accurate. Unfortunately, there is a general period of time that the information must remain on a credit report. Usually, the time limit is seven months; however the following list details the exceptions:
Any information regarding criminal convictions may be reported for an unlimited time span.
Any credit information provided as a response to an application for a salary position worth over $75,000 does not have a time limit.
Bankruptcy information can remain on a report up to ten years or more.
All credit information reported as a result of an application worth over $150,000 of credit or life insurance does not have a limit.
Any unpaid judgments or lawsuits have a credit report life of seven years or more -- until the statute of limitations has expired (whichever is longer).
In summation, despite negative accurate information, paying your bills on time and correcting any errors is a good way to manage your finances for a better credit rating.
© About-Personal-Loans.com. All rights reserved.
About The Author
Holly Bentz is a finance writer and a contributor to About Personal Loans.
About-Personal-Loans.com
Written by: Holly Bentz
Managing Finances As A Couple
You may find it difficult to manage finances together when you've been acustom to managing your finances alone. But when you become part of a couple, many things change, and your finances are no exception! Some couples take the traditional path of blending all their money together, however today more and more couples are deciding to keep their finances separate.
What are the benefits of each way? The benefits of combining funds into one checking account includes easier record keeping, simplified money management (you hope), and less paperwork when applying for credit. In addition, the blending of finances can create a "unified front" in that aspect of a relationship that simply can't be argued with. Obviously, the drawbacks are that both people are actively using the account and that will make it harder to track all the transactions and keep up with your balance when you don't know what the other is doing.
If you choose to maintain separate accounts, this will allow each person more freedom, because they won't have to run purchases by the other person. In addition, doing so may create fewer complications in the relationship, allow each person to build their own good credit, and quite simply allow them to maintain a sense of independence. The most obvious downfall to a his and her finance arrangement is that it can be disproportionately unfair. If one person makes $80,000 per year, and the other $35,000, the person making the lower salary may not like the arrangement!
If you do decide to keep "his and her" checking or savings accounts, then you'll need to find a system for paying bills and handling other joint finances together. One option that has worked great for many couples is to create a third checking account and designate it as the "combo" fund. You can set up your separate, individual checking accounts to have money automatically withdrawn from them each month at most financial institutions. You will have to sit down together and decide what amount needs to be in the joint account every month in order to cover the "combined" expenses. In a situation like the above--where one person makes significantly more than the other--it is usual for the higher wage earner to pay a larger portion of the expenses.
Another aspect to consider with his and her finances is credit. This can be considerably good or bad, depending on your individual credit ratings. However, at some point you may want to apply for joint credit with your spouse. You will most likely want to make big purchases together throughout the marriage such as a car, a house, or appliances, and it's much easier to do that if you have joint credit. With joint credit, you will both be 100% responsible for the debt, even if you co-sign a loan with your spouse or add your name to your spouse's credit card account. On the other hand, if you decide to maintain separate credit, the general rule is that you are not responsible for each other's debt. (The exception to this is if the debt is considered a house hold expense.)
If one person had bad credit prior to getting married, then the person with good credit may want to keep their credit separate. Why? Because if you apply for credit together, the lower credit score will bring down the higher one.
The best advice? Be upfront about your financial weaknesses, and discuss a plan--before the big day--to handle them. Once you have identified the potential pitfalls, it will only take a small amount of planning to overcome them.
About the author:
If you would like to get more credit information you can visit our website which contains many credit resources. http://www.my-credit-report.info This article is copyright 2005, but can be freely reprinted, as long as no changes are made, including hyperlinks.
What are the benefits of each way? The benefits of combining funds into one checking account includes easier record keeping, simplified money management (you hope), and less paperwork when applying for credit. In addition, the blending of finances can create a "unified front" in that aspect of a relationship that simply can't be argued with. Obviously, the drawbacks are that both people are actively using the account and that will make it harder to track all the transactions and keep up with your balance when you don't know what the other is doing.
If you choose to maintain separate accounts, this will allow each person more freedom, because they won't have to run purchases by the other person. In addition, doing so may create fewer complications in the relationship, allow each person to build their own good credit, and quite simply allow them to maintain a sense of independence. The most obvious downfall to a his and her finance arrangement is that it can be disproportionately unfair. If one person makes $80,000 per year, and the other $35,000, the person making the lower salary may not like the arrangement!
If you do decide to keep "his and her" checking or savings accounts, then you'll need to find a system for paying bills and handling other joint finances together. One option that has worked great for many couples is to create a third checking account and designate it as the "combo" fund. You can set up your separate, individual checking accounts to have money automatically withdrawn from them each month at most financial institutions. You will have to sit down together and decide what amount needs to be in the joint account every month in order to cover the "combined" expenses. In a situation like the above--where one person makes significantly more than the other--it is usual for the higher wage earner to pay a larger portion of the expenses.
Another aspect to consider with his and her finances is credit. This can be considerably good or bad, depending on your individual credit ratings. However, at some point you may want to apply for joint credit with your spouse. You will most likely want to make big purchases together throughout the marriage such as a car, a house, or appliances, and it's much easier to do that if you have joint credit. With joint credit, you will both be 100% responsible for the debt, even if you co-sign a loan with your spouse or add your name to your spouse's credit card account. On the other hand, if you decide to maintain separate credit, the general rule is that you are not responsible for each other's debt. (The exception to this is if the debt is considered a house hold expense.)
If one person had bad credit prior to getting married, then the person with good credit may want to keep their credit separate. Why? Because if you apply for credit together, the lower credit score will bring down the higher one.
The best advice? Be upfront about your financial weaknesses, and discuss a plan--before the big day--to handle them. Once you have identified the potential pitfalls, it will only take a small amount of planning to overcome them.
About the author:
If you would like to get more credit information you can visit our website which contains many credit resources. http://www.my-credit-report.info This article is copyright 2005, but can be freely reprinted, as long as no changes are made, including hyperlinks.
Monday, May 4, 2009
Lions and Loans: Why Finance Should Always Be Personal
Different types of loans are available for almost every aspect of your life: personal loans, car loans, secured and unsecured loans, home loans, homeowner loans, student loans, graduate loans and career development loans (CDL). If you’ve suffered from credit problems in the past and now hold sub-prime characteristics, then you will be eligible for adverse credit and adverse loans.
You can always borrow money these days, but it is crucial to read the small print as the difference between interest rates is enormous and stories of people forced to pay off amounts which are five times the amount of their original loan are not uncommon.
There are also numerous stories on unemployed couples being sold loans, such as the case of Julie and Kevin Davies, reported by the BBC. The couple were already experiencing difficulty in paying off their existing debts of £4,000, when they were sold another £20,000 loan by Lloyds TSB.
Loans of £1,000 to £25,000 can be taken out and repaid over a period typically varying between six months and 10 years depending on your credit history and available finances. Loans are usually secured or unsecured. Secured loans are tied to your house, so you can be forced to sell the house if you are unable to make the repayments. Unsecured loans do not impose the same restriction, though a default on repayments may result in being “credit blacklisted”. Once blacklisted, you may get future credit card, mortgages and hire purchase applications rejected, as well as face a potential higher rate of interest for all existing debts.
It is absolutely crucial that you shop around for a loan and not just through the high-street banks. The internet offers a wealth of information available and there are many sites which compare the prices of products, and to really ensure you get a good deal – compare the different comparison sites. In the UK moneyfacts, moneyextra and ( moneynet ) offer price comparison services for a wide range of loans, amongst other financial products. These sites also offer consumer information guides, which you can either print directly off the website or download on to your computer.
Do read all the terms and conditions carefully and ask friends, family and your financial adviser / bank adviser if you don’t understand a particular statement. The annual percentage rate (APR) is particularly important and can make a difference of thousands of pounds over the term of the loan.
Unsecured loans can be purchased from building societies and banks, as well as certain high street shops. Unsecured loans may be taken out for something specific or simply to make life more ‘comfortable’. The process usually involves:
* Requesting a typical amount for the loan
* Discussion of interest rate (APR) and possible loan payment protection insurance
* A credit check, you may wish to get one of these first, so you know what to expect
* Reading the terms and conditions and then signing the agreement
* Money can then be transferred into your account
In the discussion of secured versus unsecured loans, moneynet explains that although secured loans can offer lower interest rates and repayments, many people do not wish to jeopardise the potential loss of their home in the default of a repayment of a secured loan. In unsecured loans, pay attention to the difference in APR, term of the loan and any additional charges such as an early settlement charge or redemption penalty.
About the Author
About Rachel:
Rachel writes for the personal finance blog Cashzilla:
http://www.cashzilla.co.uk
Rachel is a disillusioned, disaffected and broke graduate, exploiting new media for financial therapy.
E-mail: rachel@positiveinterest.com
Phone: 0131 561 2251
Written by: Rachel Lane
You can always borrow money these days, but it is crucial to read the small print as the difference between interest rates is enormous and stories of people forced to pay off amounts which are five times the amount of their original loan are not uncommon.
There are also numerous stories on unemployed couples being sold loans, such as the case of Julie and Kevin Davies, reported by the BBC. The couple were already experiencing difficulty in paying off their existing debts of £4,000, when they were sold another £20,000 loan by Lloyds TSB.
Loans of £1,000 to £25,000 can be taken out and repaid over a period typically varying between six months and 10 years depending on your credit history and available finances. Loans are usually secured or unsecured. Secured loans are tied to your house, so you can be forced to sell the house if you are unable to make the repayments. Unsecured loans do not impose the same restriction, though a default on repayments may result in being “credit blacklisted”. Once blacklisted, you may get future credit card, mortgages and hire purchase applications rejected, as well as face a potential higher rate of interest for all existing debts.
It is absolutely crucial that you shop around for a loan and not just through the high-street banks. The internet offers a wealth of information available and there are many sites which compare the prices of products, and to really ensure you get a good deal – compare the different comparison sites. In the UK moneyfacts, moneyextra and ( moneynet ) offer price comparison services for a wide range of loans, amongst other financial products. These sites also offer consumer information guides, which you can either print directly off the website or download on to your computer.
Do read all the terms and conditions carefully and ask friends, family and your financial adviser / bank adviser if you don’t understand a particular statement. The annual percentage rate (APR) is particularly important and can make a difference of thousands of pounds over the term of the loan.
Unsecured loans can be purchased from building societies and banks, as well as certain high street shops. Unsecured loans may be taken out for something specific or simply to make life more ‘comfortable’. The process usually involves:
* Requesting a typical amount for the loan
* Discussion of interest rate (APR) and possible loan payment protection insurance
* A credit check, you may wish to get one of these first, so you know what to expect
* Reading the terms and conditions and then signing the agreement
* Money can then be transferred into your account
In the discussion of secured versus unsecured loans, moneynet explains that although secured loans can offer lower interest rates and repayments, many people do not wish to jeopardise the potential loss of their home in the default of a repayment of a secured loan. In unsecured loans, pay attention to the difference in APR, term of the loan and any additional charges such as an early settlement charge or redemption penalty.
About the Author
About Rachel:
Rachel writes for the personal finance blog Cashzilla:
http://www.cashzilla.co.uk
Rachel is a disillusioned, disaffected and broke graduate, exploiting new media for financial therapy.
E-mail: rachel@positiveinterest.com
Phone: 0131 561 2251
Written by: Rachel Lane
Like It Or Not- Finance Matters A Lot
Finance. We hear that word thrown around quite a bit and used in phrases like in the world of high finance or financing options are available for those who qualify, but what does it really mean? It doesnt take an E.F. Hutton or J. Paul Getty to understand that the term finance and variations like financial, financing, financier, and such are related to monetary matters.
You may be surprised, however, just how many people have no real idea what is meant by finance. In fact, its safe to say that much of America has a better fix on the goings on inside the Big Brother house than they do on what happens at the Federal Reserve! This is sad, but true.
The American Heritage Dictionary of the English Language offers four definitions for the word finance.
They are:
1. The science of the management of money and other assets.
2. The management of money, banking, investments, and credit.
3. Finances Monetary resources; funds, especially those of a government or corporate body.
4. The supplying of funds or capital.
The third and fourth definitions are not what were dealing with here as they indicate the funds and capital belonging to a person, persons, or business entity (My finances are in total disarray!) and the act of lending money (I couldnt buy the new SUV because I didnt qualify for the financing.).
The first and second definitions, however, are right on the, um, money. This is what theyre talking about on CNN Financial. This is what concerns economists and financial analysts. This is what should concern you. The world of finance in the United States revolves around several things.
These include the stock market because the prices at which stocks trade are a direct result in most cases of how well the companies are doing, the actions of the Federal Reserve which sets interest rates and is responsible for the coining of money, and the value of the American dollar as compared to other national currencies.
Many people think that, unless they have significant investments and considerable assets, financial matters like these do not concern them. Nothing could be further from the truth.
The unfortunate fact is that, while the wealthy are more immediately concerned with finance, the common people are usually the most affected when extreme changes in the financial world happen. The stock market crash of 1929 is a prime example of how drastically financial upheavals can effect everyone in the country.
About The Author
Nathan Dawson writes for http://www.marriedfinances.com and http://www.successfulmarriageresource.com, great online sources for marriage and finance information.
Written by: Nathan Dawson
You may be surprised, however, just how many people have no real idea what is meant by finance. In fact, its safe to say that much of America has a better fix on the goings on inside the Big Brother house than they do on what happens at the Federal Reserve! This is sad, but true.
The American Heritage Dictionary of the English Language offers four definitions for the word finance.
They are:
1. The science of the management of money and other assets.
2. The management of money, banking, investments, and credit.
3. Finances Monetary resources; funds, especially those of a government or corporate body.
4. The supplying of funds or capital.
The third and fourth definitions are not what were dealing with here as they indicate the funds and capital belonging to a person, persons, or business entity (My finances are in total disarray!) and the act of lending money (I couldnt buy the new SUV because I didnt qualify for the financing.).
The first and second definitions, however, are right on the, um, money. This is what theyre talking about on CNN Financial. This is what concerns economists and financial analysts. This is what should concern you. The world of finance in the United States revolves around several things.
These include the stock market because the prices at which stocks trade are a direct result in most cases of how well the companies are doing, the actions of the Federal Reserve which sets interest rates and is responsible for the coining of money, and the value of the American dollar as compared to other national currencies.
Many people think that, unless they have significant investments and considerable assets, financial matters like these do not concern them. Nothing could be further from the truth.
The unfortunate fact is that, while the wealthy are more immediately concerned with finance, the common people are usually the most affected when extreme changes in the financial world happen. The stock market crash of 1929 is a prime example of how drastically financial upheavals can effect everyone in the country.
About The Author
Nathan Dawson writes for http://www.marriedfinances.com and http://www.successfulmarriageresource.com, great online sources for marriage and finance information.
Written by: Nathan Dawson
Know Your Finances
The first step to financial success lies in knowing your financial situation at any given time. There is an anecdote attributed to John D. Rockefeller--that as a child he was given a monthly allowance from his parents, but upon stipulation that he had to save 10% of it, give away 10% to charity, and account for the rest of it. While his parents required that he record down to the penny where he spent it--you can be a bit more lenient on yourself!
Track your spending for 1-2 full months
Use a program like Quicken to keep track of all your personal finances. I recommend the latest version of Quicken or a similar financial program if you already own one. You should start out by entering in your present-day personal checking account, savings, investments, and cash situation.
To complete this step, you will also need a cheap plastic filing container or something similar. You can purchase these for about $15 at Office Depot, etc. As you make payments, keep track of all the receipts you receive, the checks you write, and any other monetary transactions you make. Like I mentioned earlier, you don't need to be exact when it comes to cash--just try to be, as much as you can tolerate.
At some later time, at your leisure, enter all this transaction data into Quicken. As you do so, put the purchasing receipts into the file folder under the appropriate Category. Make separate labels for each of the file folders-- I suggest some of the following:
Personal
Household
Charitable
Books & Education
Dining Out
Business Expenses
Taxes
Misc.
You can also add your own categories or remove some as appropriate. At this point, you may be wondering why you have to do all this. For the moment, just trust me that it will be beneficial to you (I will explain it later on). Also, it takes a grand total of about 10-15 minutes per week to do what I just described. The next section, Budgeting, will take a little longer. But budgeting also requires that you need to at least perform the first step mentioned above, that is, keeping track of what you currently spend.
Planning your Budget
I can already hear what you are going to say--oh no, not a budget! I don't like them either, because they tend to reign in my emotional spending or "I gotta have it" mentality. The truth is, you are the master of your financial destiny (not to sound corny, but its true for the most part). If you want to buy that fancy knickknack with the wireless PDA attachment downloader, then by all means, get it. But if it doesn't serve your needs in the long run, then you will have wasted $X dollars to serve your fleeting emotional desires. Besides, you will notice after tracking your budget for several months where the real money is flowing. You might buy a fancy computer toy only occasionally, at $200+ dollars, but eating out at lunch everyday + dinner with the girlfriend at fancy restaurants all the time is leaving you broke. How about going to bars? I like to drink, but a beer at a bar or nightclub can range from $4-$10. It's probably even more if you live in areas like San Francisco or New York.
Anyway, the point of planning your budget is just to get a better grasp on directing the flow of your money. I'm not saying that you should totally change your lifestyle or even change it at all--but if you are complaining about not having enough then there are certain things you should do, mainly spend less. It will be described later the benefits of saving & investing your money (which you probably already know anecdotally, but perhaps do not have extensive experience personally).
Good Luck!
About The Author
Shanti Braford
Editor/Publisher
The Long-Term Value Letter
http://www.ltvinvest.com/
Written by: Shanti Braford
Track your spending for 1-2 full months
Use a program like Quicken to keep track of all your personal finances. I recommend the latest version of Quicken or a similar financial program if you already own one. You should start out by entering in your present-day personal checking account, savings, investments, and cash situation.
To complete this step, you will also need a cheap plastic filing container or something similar. You can purchase these for about $15 at Office Depot, etc. As you make payments, keep track of all the receipts you receive, the checks you write, and any other monetary transactions you make. Like I mentioned earlier, you don't need to be exact when it comes to cash--just try to be, as much as you can tolerate.
At some later time, at your leisure, enter all this transaction data into Quicken. As you do so, put the purchasing receipts into the file folder under the appropriate Category. Make separate labels for each of the file folders-- I suggest some of the following:
Personal
Household
Charitable
Books & Education
Dining Out
Business Expenses
Taxes
Misc.
You can also add your own categories or remove some as appropriate. At this point, you may be wondering why you have to do all this. For the moment, just trust me that it will be beneficial to you (I will explain it later on). Also, it takes a grand total of about 10-15 minutes per week to do what I just described. The next section, Budgeting, will take a little longer. But budgeting also requires that you need to at least perform the first step mentioned above, that is, keeping track of what you currently spend.
Planning your Budget
I can already hear what you are going to say--oh no, not a budget! I don't like them either, because they tend to reign in my emotional spending or "I gotta have it" mentality. The truth is, you are the master of your financial destiny (not to sound corny, but its true for the most part). If you want to buy that fancy knickknack with the wireless PDA attachment downloader, then by all means, get it. But if it doesn't serve your needs in the long run, then you will have wasted $X dollars to serve your fleeting emotional desires. Besides, you will notice after tracking your budget for several months where the real money is flowing. You might buy a fancy computer toy only occasionally, at $200+ dollars, but eating out at lunch everyday + dinner with the girlfriend at fancy restaurants all the time is leaving you broke. How about going to bars? I like to drink, but a beer at a bar or nightclub can range from $4-$10. It's probably even more if you live in areas like San Francisco or New York.
Anyway, the point of planning your budget is just to get a better grasp on directing the flow of your money. I'm not saying that you should totally change your lifestyle or even change it at all--but if you are complaining about not having enough then there are certain things you should do, mainly spend less. It will be described later the benefits of saving & investing your money (which you probably already know anecdotally, but perhaps do not have extensive experience personally).
Good Luck!
About The Author
Shanti Braford
Editor/Publisher
The Long-Term Value Letter
http://www.ltvinvest.com/
Written by: Shanti Braford
Kentucky Finance Mortgage Loan
If you are looking to purchase Kentucky refinance mortgage loan to benefit from current lowest interest rates then read on…
Do you require Kentucky Refinance Mortgage Loan
Are you paying too high interest rates on your mortgage loan? Wondering about current drop in mortgage interest rates and wondering how you can improve your specific situation? Are you looking to decrease your mortgage interest rates, monthly payments and improve saving levels? Consider purchasing Kentucky refinance mortgage loan with a reputable state mortgage lender to find how much you can save on your home loan.
Let us help you improve your specific situation. We work with few of the top Kentucky refinance mortgage lenders and can find you best Kentucky refinance mortgage loan as per your requirement. We offer following benefits and more on Kentucky refinance mortgage loan:
·Convenient personal service and timely assistance to help you find best Kentucky refinance mortgage loan
·Decreased interest rates and monthly payments
·Receive cash out of your home equity
·Convert from one mortgage type to another at lowest possible costs (from fixed rate mortgage to adjustable rate mortgage and vice versa)
·Consolidate various high interest debts (if any) in to a low secure monthly payment
·Reduce mortgage term and get you out of debts sooner.
Factors to Consider Before Refinancing Mortgage Loan in Kentucky
Generally, it is advisable to purchase Kentucky refinance mortgage loan when you are offered minimum 2% reduction in interest rates compared to rates that you are currently paying. However, you should take care to approach a refinance mortgage lender who does not charge too high closing costs and mortgage points, else, refinancing may not provide the needed benefits. Also, prior to applying for a Kentucky refinance mortgage loan, check if it is prudent to refinance mortgage in your present situation. If you are not planning to stay for long in the home after refinancing then it is not worth to spend on points. Moreover, if you have paid-off major portion of your mortgage balance then it may not be advisable to apply for refinancing. Kentucky mortgage loan refinancing is best advisable when it helps to reduce interest rates and monthly payments while at the same time reducing mortgage term.
Are you doubtful if Kentucky refinance mortgage loan is right for your specific needs? Let us help you make right mortgage loan decisions. Our experts will study your situation and your requirements and we will advice you regarding best options. Apart from finding you the best Kentucky refinance mortgage loan, we will also advice you regarding closing costs, potential tax benefits, and more. Fill out our simple hassle free mortgage quote to receive best refinance mortgage loans, expert information, tips, and advice, including, any other assistance that you require.
About the Author
Swapna is working as content writer
for Ensx softech/sitscorp.She worked
for many projects and got invaluable
experience with her as content writer.
Written by: SWAPNA
Do you require Kentucky Refinance Mortgage Loan
Are you paying too high interest rates on your mortgage loan? Wondering about current drop in mortgage interest rates and wondering how you can improve your specific situation? Are you looking to decrease your mortgage interest rates, monthly payments and improve saving levels? Consider purchasing Kentucky refinance mortgage loan with a reputable state mortgage lender to find how much you can save on your home loan.
Let us help you improve your specific situation. We work with few of the top Kentucky refinance mortgage lenders and can find you best Kentucky refinance mortgage loan as per your requirement. We offer following benefits and more on Kentucky refinance mortgage loan:
·Convenient personal service and timely assistance to help you find best Kentucky refinance mortgage loan
·Decreased interest rates and monthly payments
·Receive cash out of your home equity
·Convert from one mortgage type to another at lowest possible costs (from fixed rate mortgage to adjustable rate mortgage and vice versa)
·Consolidate various high interest debts (if any) in to a low secure monthly payment
·Reduce mortgage term and get you out of debts sooner.
Factors to Consider Before Refinancing Mortgage Loan in Kentucky
Generally, it is advisable to purchase Kentucky refinance mortgage loan when you are offered minimum 2% reduction in interest rates compared to rates that you are currently paying. However, you should take care to approach a refinance mortgage lender who does not charge too high closing costs and mortgage points, else, refinancing may not provide the needed benefits. Also, prior to applying for a Kentucky refinance mortgage loan, check if it is prudent to refinance mortgage in your present situation. If you are not planning to stay for long in the home after refinancing then it is not worth to spend on points. Moreover, if you have paid-off major portion of your mortgage balance then it may not be advisable to apply for refinancing. Kentucky mortgage loan refinancing is best advisable when it helps to reduce interest rates and monthly payments while at the same time reducing mortgage term.
Are you doubtful if Kentucky refinance mortgage loan is right for your specific needs? Let us help you make right mortgage loan decisions. Our experts will study your situation and your requirements and we will advice you regarding best options. Apart from finding you the best Kentucky refinance mortgage loan, we will also advice you regarding closing costs, potential tax benefits, and more. Fill out our simple hassle free mortgage quote to receive best refinance mortgage loans, expert information, tips, and advice, including, any other assistance that you require.
About the Author
Swapna is working as content writer
for Ensx softech/sitscorp.She worked
for many projects and got invaluable
experience with her as content writer.
Written by: SWAPNA
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