Finance-32

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Feature Article Debt relief from debt consolidation Author: Jakob Jelling By Jakob Jelling http://www.cashbazar.com If you are up to your neck in debt, there may seem like there is no relief in sight. In fact this is not necessarily the truth. There are ways to take all of your stifling bills and roll them up into one neat package by using debt consolidation in two very popular forms Home Equity Loans, Refinancing Loans, and a Consolidation Credit Card. All of these instruments provide the debtor with one thing "relief" from the current debt by shrinking it down to a single manageable debt. Using home equity to consolidate debts One of the popular methods of debt consolidation today is the Home Equity Loan. What happens is that the debt is extinguished using the equity from a homeowner's home. A loan is created outside of the mortgage in order to satisfy the debts. Should the homeowner default on the loan, their house is in jeopardy of being foreclosed upon if that loan is not satisfied with a specified amount of time. Refinancing loans People often consume the debt by rolling it into a new mortgage. This way the house costs more money to the borrower, but the debt is extinguished at close and the debt is neatly rolled away into the mortgage securely. Upon settlement of the loan, the debts are paid in full and satisfied. The clock on the mortgage is reset to day one. Credit card consolidation A low interest credit card is offered to the borrower to include any outstanding credit and loan balances. The interest rate is a low fixed rate for a period of up to one year, upon the year's end it will resume at its normal rate. Upon acceptance and terms the account should be closed once paid in full and payments be made directly to the new credit card provider. Some people have been able to master paying off one credit card with another to keep the debt revolving and interest rates low. Some people fail to close out the previous creditors account and run them back up again as well. All three of these options provide solid relief for the debt and help them reconstruct and manage their debt better. About the Author Jakob Jelling is the founder of http://www.cashbazar.com. Visit his website for the latest on personal finance, debt elimination, budgeting, credit cards and real estate. ... Subscribe to our Financial newsletter! Your email:

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Finance-31

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Feature Article Debt Elimination Fast! Author: Ephram Lucas How would you like to be debt free in only a few years, including zero mortgage debts?! Sounds too good to be true? Well check out this easy debt elimination plan from www.nodebtever.com - the plan the Banks DON'T want you to know about! First off, you need to do a little groundwork. Those debts took some time to build, so getting rid of them involves a little concentration. Get your last half year's bank records together.Ignoring taxes, bills already paid etc, mark every entry that could in theory be reduced. It will help if you group like for like stuff together (a spreadsheet is good for this) for example, clothes, entertainment, groceries etc. What you are looking for is a way to shave 10% or more off each of these items. Make a list of ideas for each category. This is easier than it might sound - for example, in the 'Groceries' section, make a note to buy unbranded Supermarket generic products, rather than the big brand high cost versions. The amount you think you can save by doing this is your 'war chest' against debt. Once you have done this, prioritise the bills as follows:- divide the outstanding debt on each bill by the minimum amount you can pay off each month. The smallest resulting number is your target bill. What you are going to do is continue your normal monthly payments on everything EXCEPT the target. The debt target gets the usual payment PLUS the war chest. You want to POVERPAY the debt each month to break it as fast as possible. Do this each month until the number one bill is paid. Then you move on to debt number 2 - the next smallest result of dividing the bill amount by the minimum payment. This time, of course, you can 'accelerate' the process by applying not only the 'war chest' but also the standard payments you used to pay on target number 1. You are probably beginning to get the idea! Research from www.nodebtever.com indicates that the average US citizen can pay down ALL their debts in as little as 6 years using this method! The important things about this method are as follows:- You want to pay off the debt which will clear first. This allows you to 'accelerate' the process, using each item's payments on the next in the chain as the method matures. You must resist any temptation to focus on the higher interest debts - that is not essential here. If you run into problems (emergency expenditure required, that sort of thing) you can suspend the plan for the minimum amount of time it takes you to deal with the emergency, but then you must resume immediately. Oh, and by the way, DO NOT try to use your retuirement 401(k) funds for this - fund it from income and windfalls only. About the Author (c) E Lucas 2005. You may reproduce this article on your website or newsletter as long as you include this byline and link to http://www.nodebtever.com www.nodebtever.com , the site for free debt articles and tips on elimination of debts ... Subscribe to our Financial newsletter! Your email:

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Finance-31

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Feature Article Debt Elimination Fast! Author: Ephram Lucas How would you like to be debt free in only a few years, including zero mortgage debts?! Sounds too good to be true? Well check out this easy debt elimination plan from www.nodebtever.com - the plan the Banks DON'T want you to know about! First off, you need to do a little groundwork. Those debts took some time to build, so getting rid of them involves a little concentration. Get your last half year's bank records together.Ignoring taxes, bills already paid etc, mark every entry that could in theory be reduced. It will help if you group like for like stuff together (a spreadsheet is good for this) for example, clothes, entertainment, groceries etc. What you are looking for is a way to shave 10% or more off each of these items. Make a list of ideas for each category. This is easier than it might sound - for example, in the 'Groceries' section, make a note to buy unbranded Supermarket generic products, rather than the big brand high cost versions. The amount you think you can save by doing this is your 'war chest' against debt. Once you have done this, prioritise the bills as follows:- divide the outstanding debt on each bill by the minimum amount you can pay off each month. The smallest resulting number is your target bill. What you are going to do is continue your normal monthly payments on everything EXCEPT the target. The debt target gets the usual payment PLUS the war chest. You want to POVERPAY the debt each month to break it as fast as possible. Do this each month until the number one bill is paid. Then you move on to debt number 2 - the next smallest result of dividing the bill amount by the minimum payment. This time, of course, you can 'accelerate' the process by applying not only the 'war chest' but also the standard payments you used to pay on target number 1. You are probably beginning to get the idea! Research from www.nodebtever.com indicates that the average US citizen can pay down ALL their debts in as little as 6 years using this method! The important things about this method are as follows:- You want to pay off the debt which will clear first. This allows you to 'accelerate' the process, using each item's payments on the next in the chain as the method matures. You must resist any temptation to focus on the higher interest debts - that is not essential here. If you run into problems (emergency expenditure required, that sort of thing) you can suspend the plan for the minimum amount of time it takes you to deal with the emergency, but then you must resume immediately. Oh, and by the way, DO NOT try to use your retuirement 401(k) funds for this - fund it from income and windfalls only. About the Author (c) E Lucas 2005. You may reproduce this article on your website or newsletter as long as you include this byline and link to http://www.nodebtever.com www.nodebtever.com , the site for free debt articles and tips on elimination of debts ... Subscribe to our Financial newsletter! Your email:

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Wednesday, January 02, 2008

Finance-30

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Feature Article Debt consolidation Author: Jakob Jelling Debt consolidation is a concept that most people are aware of and often is a good idea. Basically when consolidating your bills or loans, you combine the total amount owed and make a single monthly payment instead of many smaller payments through out the month. While this is often a good solution to debt problems, there are a few things that need to be considered first. The first thing to consider is if a consolidation loan is in your best interest. Regardless of how you end up procuring a consolidation loan the basic facts are the same, you are borrowing more than you currently owe to get one monthly payment. Is this convenience worth the extra cost of the fees and interest on a loan for money than you currently owe? Depending upon your situation there may be several courses of action to consider first. Step one is to take a serious look at you personal budgeting. Do you need to make changes to how you are currently spending your income? If there is too much debt to be repaid at once can you enter into a payment arrangement with your creditors to allow you the time that you need to get ahead? If you are not able to work your way out of your current situation then you need to look at other borrowing solutions. The first option should be to examine what possibilities you already have. Do you have a mortgage? If you have a mortgage there may be a few options available to you. First you may be able to increase the amount of your current mortgage. In order to increase the amount of your current mortgage you may have to switch lending institutions and basically re-mortgage your home while other places will simply add the extra amount to your current mortgage. The other similar option you have is to take out a second mortgage on your home. In this case you are borrowing against the equity in your home that you have already built up. If you do not have a home but do have good credit then you may have other options available to you such as an unsecured loan. An unsecured loan is a good faith loan meaning that the business that lent to you trusts you enough to repay the loan. This type of loan will not impede your ability to buy and sell property since they will not but a lien on your assets. This may be important to you if you are planning on selling your vehicle or other assets in the near future. Debt consolidation can be a valuable tool if you know what you are doing and how you got to this point. Debt consolidation may offer lower interest rates, lower monthly payments and only a single bill to pay once a month thus making your budgeting easier. However, the cost of this convenience can be fairly high. Often companies will charge you for settling a loan earlier than arranged thus adding to the total amount owed. Generally consolidated loans payments are less than what you are currently paying. This is because the term is longer than before. Another way lenders make money is by offering loan insurance that you may already have. It always pays to shop around for any product since the company offering it at the time is usually charging more for the convenience of bundling it. As you can see a consolidated loan can save you money but may not be the best option available to you. The key is to shop around and do your homework. Find out what various companies offer, what kind of interest rate you should expect to pay based upon your credit rating and what alternative options you have available to you. For example you may be able to borrow from your 401K plan and you will not be charged interest on the loan if you make an arrangement to repay the loan with your employer. A 0% interest loan is a much better option than a consolidated loan. About the Author Jakob Jelling is the founder of http://www.cashbazar.com. Visit his website for the latest on personal finance, debt elimination, budgeting, credit cards and real estate. ... Subscribe to our Financial newsletter! Your email:

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Tuesday, January 01, 2008

Finance-29

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Feature Article Dealing with dual real estate agents Author: Jakob Jelling Historically, real estate agents have represented the seller of a property. The seller, after all, is usually the one who pays their commission, and agents therefore have a fiduciary relationship with the seller. This in no way means that agents may operate outside the bounds of the law and ethical conduct of course. It just means that the real estate agent is just that, an authorized agent of the seller for a particular transaction. More recent trends have introduced buyer's agents, who usually work on a fee basis exclusively for the buyer, and dual agents. Dual agents represent both seller and buyer, particularly in cases where the agent's company is the listing company. Dual agency is legal in most U.S. states; however, most consumer advocacy organizations recommend against using a dual agent. This is because there is an inherit conflict of interest for the agent - they receive a commission based on the selling price of the property. The higher the price, the higher their commission, so their reasoning is that dual agents never really have the buyer's best interests at heart. If you've decided to work with a dual agent, this will need to be disclosed to both the buyer and seller, and they both have to agree, in writing. Dual agents are bound by law and ethics to treat both buyers and sellers honestly, equally, and fairly. Dual agents can be prevented from divulging confidential information about each party to the other. This could severely harm negotiating positions. The bottom line in dealing with a dual agent is to remember that the buyer and seller have conflicting interests in the price and other terms of the sale. It's very difficult for an agent to truly and equally represent both parties, since the conflicting interests make that inherently impossible. If you do choose to use a dual agent, be sure the exact nature of your relationship with the dual agent is clear, know what services the agent will be performing for you during the transaction, how the agent will be paid, and how any conflicts that arise will be handled. About the Author Jakob Jelling is the founder of http://www.cashbazar.com. Visit his website for the latest on personal finance, debt elimination, budgeting, credit cards and real estate. ... Subscribe to our Financial newsletter! Your email:

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Monday, December 31, 2007

Finance-28

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Feature Article Crisis Fund Author: Terry J. Rigg What would it be like to have a pot of money available when you have an unexpected expense? I used to think that unexpected expenses was something that happened very rarely. But it seems like these days I have as many unexpected expenses as I do regular bills. One of the vehicles is always needing tires or repairs, the washing machine needs replaced or buying a new water heater (like I did just last week). That is where the Crisis Fund comes in. If you have a budget in place, most of your regular paycheck is already allocated for something. Ideally about 10% should be put aside for savings. It would be a good idea to use about half of your savings for long term savings and half for your crisis fund. Your long term savings would be used for large purchases like a home or money for college for the kids while a crisis fund would be used smaller purchases. Your long term savings can be invested in many ways to yield the best interest rate you can find since the money is intended to be tied up for years. Your crisis fund needs to be in a savings account or a checking account that earns interest to make the money available on short notice. You may even want to use your crisis fund for bills or expenses that you know will be due in the future. A few examples of this could be school clothes for the kids, insurance payments that are due every three, six or twelve months or even a balloon payment on your mortgage. One of the major reasons to have a crisis fund is to prevent the use of credit cards. All of the purchases you would make with a credit card could be made out of your crisis fund. With the average credit card interest being 18% or more, just having the cash available could save you hundreds of dollars a year. If you don't think you have money for a savings of any kind you might want to think about ways of cutting back on something else to creat a crisis fund. If money is extremely tight, you will probably have to put off starting a long term savings. Even putting $5 or $10 a payday away will help when you need it. About the Author Terry Rigg is the author of Living Within Your Means - The Easy Way http://www.homemoneyhelp.com/ebookadpage.html and editor of The FREE Budget Stretcher Newsletter and Budget Stretcher web site http://www.homemoneyhelp.com. He has 25 years of experience counseling individuals and families concerning their personal finances. ... Subscribe to our Financial newsletter! Your email:

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Sunday, December 30, 2007

Finance-27

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Feature Article Credit establishment 101 Author: Jakob Jelling By Jakob Jelling http://www.cashbazar.com There will come a day when you need credit. You may want to buy a home or a car and your credit rating will become very important to help make these dreams come true. One of the first things you will need to learn is the basic principle of money management, especially the ability to repay your creditors on time within the 30-day grace period they establish for you. Most people secure credit cards as the first way to establish credit in High School or College. Upon getting the credit card, usually a low spending limit, the ability to repay the card in an orderly fashion will help you establish a positive credit rating with the major repositories. How your score is recorded Upon making your monthly payments to the Credit Card Company or bank, your information is electronically transmitted to a credit-reporting agency. Trans Union, Equifax and Experian are the three major credit agencies. Once you have made your payments consistently your rating will rise accordingly. Once your rating has hit 650 or better, your mailbox will become flooded with attractive offers for credit cards and loans. People will want to give you the world because you can pay your bills in a timely manner. What else is affected with the credit rating? You may be surprised but if you do not act financially responsible, it can prevent you from getting a job, renting an apartment or even opening a bank account. The fact of the matter is that your credit rating is very important in today's society. Your ability to keep it up to date by monitoring it is crucial. Once a year you can pull a free credit report from each agency. Check the report for accuracy, should it be reporting errors contact them immediately to resolve the issue. Some people might think a simple phone call can fix everything. That couldn't be farther from the truth, repairing damaged credit takes time and only you can do it. Once you file a claim, stick with it and make sure it gets resolved. Once a correction has been made you will receive notification or an amended report from the agency showing the change. Your credit report has much more at stake for you in the present and in the future, watch it closely. About the Author Jakob Jelling is the founder of http://www.cashbazar.com. Visit his website for the latest on personal finance, debt elimination, budgeting, credit cards and real estate. ... Subscribe to our Financial newsletter! Your email:

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Saturday, December 29, 2007

Finance-26

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Feature Article Credit counseling and its effects Author: Jakob Jelling All to often credit is fun, easy to get and even easier to use. Many people find that even though they have an excellent income, that they can not keep up with their current debt load and even if they are managing to make their monthly payments they are not getting ahead. Is there a solution to this situation without having to claim bankruptcy or adversely effecting your credit score? Credit counseling may very well be the answer for this type of situation. Credit counseling is designed to help correct your problem without impacting your credit score and may actually help improve your credit score. Credit counseling works by ensuring that all of your creditors are getting paid on time, eliminates the trap of revolving credit and helps you to learn to over come your credit problems. Upon entering into a credit-counseling program you will be asked for financial details and to surrender most of your credit cards. Almost all programs acknowledge that you need a credit card or two for business or travel and will not try to restrict your ability to work and live in a reasonable fashion. Once your situation is assessed a plan will be made so that your will be debt free in three or four years and you will be offered the help you need to keep out of the situation that you are currently in. While your credit score will not be effected an entry will be placed on your file. The entry on your file will generally say "DMP" or "credit counseling". This entry is put there to you from obtaining additional credit cards. Once you have completed your credit counseling this entry is generally removed or updated to reflect that you have finished the program. One thing that will effect your credit rating is the promptness of your credit-counseling agency. When you are in a credit-counseling program you will give the agency a monthly check that they will use to pay your creditors. If the agency does not pay your creditors on time or in full your credit score will be impacted. Be sure to check out the history of your credit-counseling agency to avoid this. As you might assume, committing to a credit-counseling program does require a lot of work and conviction from you. The hardest part for many people is to break the habit of reaching for a credit card to pay for a bill that just came in the mail. The second hardest thing for most people to do is to learn to live within in their means. Everyone likes instant gratification and often we feel entitled to it, but perhaps if we had shown a little more discipline in the first place we wouldn't need credit counseling now. As you can see, credit counseling is a good and reasonable option if you find yourself with too much debt. Credit counseling will not effect your credit score and will ultimately make you a better person as you will learn better skills for handling your money. If you find yourself slipping into revolving credit card debt problems make sure you take the correct steps to resolve the problem before you are forced into bankruptcy. About the Author Jakob Jelling is the founder of http://www.cashbazar.com. Visit his website for the latest on personal finance, debt elimination, budgeting, credit cards and real estate. ... Subscribe to our Financial newsletter! Your email:

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Finance-26

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Feature Article Credit counseling and its effects Author: Jakob Jelling All to often credit is fun, easy to get and even easier to use. Many people find that even though they have an excellent income, that they can not keep up with their current debt load and even if they are managing to make their monthly payments they are not getting ahead. Is there a solution to this situation without having to claim bankruptcy or adversely effecting your credit score? Credit counseling may very well be the answer for this type of situation. Credit counseling is designed to help correct your problem without impacting your credit score and may actually help improve your credit score. Credit counseling works by ensuring that all of your creditors are getting paid on time, eliminates the trap of revolving credit and helps you to learn to over come your credit problems. Upon entering into a credit-counseling program you will be asked for financial details and to surrender most of your credit cards. Almost all programs acknowledge that you need a credit card or two for business or travel and will not try to restrict your ability to work and live in a reasonable fashion. Once your situation is assessed a plan will be made so that your will be debt free in three or four years and you will be offered the help you need to keep out of the situation that you are currently in. While your credit score will not be effected an entry will be placed on your file. The entry on your file will generally say "DMP" or "credit counseling". This entry is put there to you from obtaining additional credit cards. Once you have completed your credit counseling this entry is generally removed or updated to reflect that you have finished the program. One thing that will effect your credit rating is the promptness of your credit-counseling agency. When you are in a credit-counseling program you will give the agency a monthly check that they will use to pay your creditors. If the agency does not pay your creditors on time or in full your credit score will be impacted. Be sure to check out the history of your credit-counseling agency to avoid this. As you might assume, committing to a credit-counseling program does require a lot of work and conviction from you. The hardest part for many people is to break the habit of reaching for a credit card to pay for a bill that just came in the mail. The second hardest thing for most people to do is to learn to live within in their means. Everyone likes instant gratification and often we feel entitled to it, but perhaps if we had shown a little more discipline in the first place we wouldn't need credit counseling now. As you can see, credit counseling is a good and reasonable option if you find yourself with too much debt. Credit counseling will not effect your credit score and will ultimately make you a better person as you will learn better skills for handling your money. If you find yourself slipping into revolving credit card debt problems make sure you take the correct steps to resolve the problem before you are forced into bankruptcy. About the Author Jakob Jelling is the founder of http://www.cashbazar.com. Visit his website for the latest on personal finance, debt elimination, budgeting, credit cards and real estate. ... Subscribe to our Financial newsletter! Your email:

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Friday, December 28, 2007

Finance-25

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Feature Article Credit card fraud is usually preventable Author: Jakob Jelling One of the worst things that can happen to you is credit card fraud. This is even worse if you don't pay very much attention to your credit reports, since you may not find out about the fraud until there are very serious problems to deal with. Even if it's possible to get out of paying for most of the fraudulent purchases that are made on your card, you will often have to pay for some of them - and you will have to go through the hassle of dealing with a stolen credit card if you're not careful. One of the major places where credit card fraud happens now is online. Therefore, you should be very careful about the companies that you give your credit card number to. Ideally, you should figure out a way to avoid giving out your credit card number at all. There are several payment services online that will help you make your online payments without giving out your credit card number to unauthorized parties. You should also make sure that if you are entering your credit card number that it is being entered into the right field on the right page, and that it is being sent over a secure connection. If the connection is not secure, then anybody online might be able to find the information that you sent. Another place where credit card fraud is common is over the phone. For this reason, you should avoid giving your credit card number to people or companies over the phone if at all possible. You should also listen to your instincts regarding the phone and internet. If you have any doubts about the safety of giving your credit card number, then you should probably not do so. After all, when it comes to things like fraud, you're much better off safe than sorry. If you do find that there are charges on your credit card that you don't remember making, then you might be a victim of credit card fraud. Luckily, there are a lot of options to people who think that their credit card might be stolen. The first thing you should do if you think that your card or card number has been stolen is to call up your credit card company and immediately cancel the card. This will keep the person who has stolen your card from using it anymore. While you'll still have to deal with what has already been done with your card, you will at least have limited the damage. To keep yourself from being a victim of credit card fraud, however, the most important thing to do is just to use common sense. If something seems shady, then it probably is, and you shouldn't risk your credit card number if you are unsure of the situation. About the Author Jakob Jelling is the founder of http://www.cashbazar.com. Visit his website for the latest on personal finance, debt elimination, budgeting, credit cards and real estate. ... Subscribe to our Financial newsletter! Your email:

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Thursday, December 27, 2007

Finance-24

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Feature Article Credit Card Fool Author: Thomas A Martucci We allow the credit card industry to make fools of us and we do nothing about it. If someone told you that you were being made a fool of, wouldn't you address the issue? I know I would. Credit card companies have revenue of $76.03 billion dollars and the majority of this revenue comes from late penalties and over limit and cash advance fees. $29.2 billion came from late penalties, $15.2 billion from over credit limit fees and $3.04 billion from cash advance fees. This amount is 62% of the credit card companies' revenue and this does not include finance charges. Nice profit! The above is the reason why credit card companies can afford to mail over 5 billion credit card offers per year. This equals to 6 offers per household per month. Maybe the $2 billion in postage alone is a reason why our government does not look into the credit card industry seriously. Every bank and retailer wants you to have their credit card. Having their credit card enables them to make huge profits. In 2001 both Sears and Circuit City reported that over half of their corporate profits were from finance related revenue. Do you think this could be the reason why retailers always have an employee at the front door of their store offering you to sign up for their credit card and in return you receive a special gift or extra "so called" discount? Most special gifts and extra discounts end up costing you more than the original purchase due to finance charges. I may not be able to confront these institutions that are trying to make a fool of me, but I can fight back by believing that "Cash is King" and using cash instead of credit will save me money in the end. It's a New Year and personal money management should be on the top of your list for 2006. Article Source : http://www.articledashboard.com Thomas Martucci started developing the BUDGETkeeper SYSTEM in 1999. As a business owner for over twenty years, he understood the necessity of maintaining a budget in his business. However, at home, a budget never made it into the necessity category until a financial firestorm hit and made home budgeting a task that had to be done, like it or not. Thomas worked for several years to perfect a home budgeting system that worked for his family and could work for others as well. Visit our website at www.budgetkeepersystem.com for more information about the BUDGETkeeper SYSTEM. ... Subscribe to our Financial newsletter! Your email:

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Finance-24

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Feature Article Credit Card Fool Author: Thomas A Martucci We allow the credit card industry to make fools of us and we do nothing about it. If someone told you that you were being made a fool of, wouldn't you address the issue? I know I would. Credit card companies have revenue of $76.03 billion dollars and the majority of this revenue comes from late penalties and over limit and cash advance fees. $29.2 billion came from late penalties, $15.2 billion from over credit limit fees and $3.04 billion from cash advance fees. This amount is 62% of the credit card companies' revenue and this does not include finance charges. Nice profit! The above is the reason why credit card companies can afford to mail over 5 billion credit card offers per year. This equals to 6 offers per household per month. Maybe the $2 billion in postage alone is a reason why our government does not look into the credit card industry seriously. Every bank and retailer wants you to have their credit card. Having their credit card enables them to make huge profits. In 2001 both Sears and Circuit City reported that over half of their corporate profits were from finance related revenue. Do you think this could be the reason why retailers always have an employee at the front door of their store offering you to sign up for their credit card and in return you receive a special gift or extra "so called" discount? Most special gifts and extra discounts end up costing you more than the original purchase due to finance charges. I may not be able to confront these institutions that are trying to make a fool of me, but I can fight back by believing that "Cash is King" and using cash instead of credit will save me money in the end. It's a New Year and personal money management should be on the top of your list for 2006. Article Source : http://www.articledashboard.com Thomas Martucci started developing the BUDGETkeeper SYSTEM in 1999. As a business owner for over twenty years, he understood the necessity of maintaining a budget in his business. However, at home, a budget never made it into the necessity category until a financial firestorm hit and made home budgeting a task that had to be done, like it or not. Thomas worked for several years to perfect a home budgeting system that worked for his family and could work for others as well. Visit our website at www.budgetkeepersystem.com for more information about the BUDGETkeeper SYSTEM. ... Subscribe to our Financial newsletter! Your email:

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Wednesday, December 26, 2007

Finance-23

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Feature Article Credit Card Debt Elimination Author: Gary Gresham Credit card debt elimination can be done with a good plan and a little patience. The important thing is to find what works best for you and stick to your plan. The rewards are well worth it and you'll save yourself a lot of money in the process. You can choose to either start paying off the credit card with the highest interest rate first or you can get rid of the credit cards with the smallest balance first. The important thing is to know exactly how you are going to approach your credit card debt elimination before you begin. First, set a realistic budget for yourself to lower your spending in all areas and stick to it. Living by your budget will help you pool your available cash for your credit card debt elimination plan. The most important you must do immediately is eliminate your credit card spending. You can never succeed with credit card debt elimination if you continue to add to the outstanding balance. The interest on that debt added with a climbing balance will make credit card debt elimination impossible. It's important to pay your credit card bills on time and always pay more than the minimum payment on the bills you want paid off first. Paying the minimum payment doesn't eliminate that high credit card interest rate. That's exactly what the credit card companies want because they are making a killing off of that interest. If you are concentrating your bill paying efforts on one bill at a time, then you should still pay at least the minimum on the others. Once each bill is paid redirect your resources to the next bill so your credit card debt elimination can become a reality. A tip that some have been successful with is contacting creditors to ask for a lower interest rate. Even if most creditors say no what if some of them say yes? The interest savings to you will multiply your credit card debt elimination efforts and save you money. It's worth a few phone calls and your time to try this. One last tip is, if you choose to close your credit card accounts, do not close them until after the bill has been paid. Some credit card companies often will penalize you by raising interest rates if you close an account that carries an outstanding balance. The most important thing to remember is to begin your plan right now. Think of how you will feel when you are finally free of high credit card interest. The sooner you start, the sooner your ultimate goal of credit card debt elimination can be accomplished. About the Author This article is supplied by http://www.credit-repair-facts.com where you will find credit information, debt elimination programs and informative facts that give you the knowledge to correct your own credit and credit report. For more credit related articles go to: http://www.credit-repair-facts.com/articles_1.html ... Subscribe to our Financial newsletter! Your email:

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Tuesday, December 25, 2007

Finance-22

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Feature Article Credit cards for people with bad credit scores Author: Jakob Jelling By Jakob Jelling http://www.cashbazar.com Sometimes life lands you in a situation that causes your credit to suffer. A job loss or illness can send your credit rating south leaving you with nothing to do about it. Some creditors may let you slide a month or two, but your records will still show a delinquency. A stolen identity can also leave you feeling violated and unable to resume a normal life with credit. It is during these times you may have to search a little harder to find companies that wan to deal with people who have bad credit. There are a handful of lenders who will help you re-establish your creditworthiness by using one of their credit cards. The price you will pay Searching the Internet will give you a good idea of what types of credit card companies will deal with bad credit. Companies like Capital One, Orchard Bank, Providian Financial and even Citibank have plans to help you get back on your feet again. But at what price will you have to pay? The price is interest. Interest rates from these companies can be up to 25-30% annually. So it is important to manage your money and credit more wisely. One of the many benefits of using one of these preferred lenders is that they report positively to the major credit scoring repositories. That means if you make timely payment it will be in your favor and will help boost your credit rating back up. The interest you pay is a small price to pay to get back on your credit worthy feet. The secured credit card route Most of the major banks and lending institutions may seek a deposit matching mechanism called a secured credit deposit before backing a credit card for you. This card is used the same way that a normal credit card is, however the cardholder must fund it before using. If the cardholder deposits $100 into the interest bearing account their credit card is funded at 100% of their deposit. Some credit cards can at their disposal issue double or triple matches to boost the amount the creditor can spend. The deposit of $100 can return $300 in credit terms. Secured credit cards also report positively to the credit agencies and will eventually become normal revolving accounts and the balances held for deposit are credited back to the cardholder's account. A very positive way for people with bad credit to obtain the financial vehicles they need. About the Author Jakob Jelling is the founder of http://www.cashbazar.com. Visit his website for the latest on personal finance, debt elimination, budgeting, credit cards and real estate. ... Subscribe to our Financial newsletter! Your email:

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Finance-22

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Feature Article Credit cards for people with bad credit scores Author: Jakob Jelling By Jakob Jelling http://www.cashbazar.com Sometimes life lands you in a situation that causes your credit to suffer. A job loss or illness can send your credit rating south leaving you with nothing to do about it. Some creditors may let you slide a month or two, but your records will still show a delinquency. A stolen identity can also leave you feeling violated and unable to resume a normal life with credit. It is during these times you may have to search a little harder to find companies that wan to deal with people who have bad credit. There are a handful of lenders who will help you re-establish your creditworthiness by using one of their credit cards. The price you will pay Searching the Internet will give you a good idea of what types of credit card companies will deal with bad credit. Companies like Capital One, Orchard Bank, Providian Financial and even Citibank have plans to help you get back on your feet again. But at what price will you have to pay? The price is interest. Interest rates from these companies can be up to 25-30% annually. So it is important to manage your money and credit more wisely. One of the many benefits of using one of these preferred lenders is that they report positively to the major credit scoring repositories. That means if you make timely payment it will be in your favor and will help boost your credit rating back up. The interest you pay is a small price to pay to get back on your credit worthy feet. The secured credit card route Most of the major banks and lending institutions may seek a deposit matching mechanism called a secured credit deposit before backing a credit card for you. This card is used the same way that a normal credit card is, however the cardholder must fund it before using. If the cardholder deposits $100 into the interest bearing account their credit card is funded at 100% of their deposit. Some credit cards can at their disposal issue double or triple matches to boost the amount the creditor can spend. The deposit of $100 can return $300 in credit terms. Secured credit cards also report positively to the credit agencies and will eventually become normal revolving accounts and the balances held for deposit are credited back to the cardholder's account. A very positive way for people with bad credit to obtain the financial vehicles they need. About the Author Jakob Jelling is the founder of http://www.cashbazar.com. Visit his website for the latest on personal finance, debt elimination, budgeting, credit cards and real estate. ... Subscribe to our Financial newsletter! Your email:

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Monday, December 24, 2007

Finance-21

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Feature Article Consumer Intelligence: Choosing Smart Debt Consolidation Author: Holly Bentz There is an onslaught of American consumers acquiring more debt. It makes for the business of debt consolidation management an emerging industry. Nonetheless, as the marketplace of the indebted continues to reach proportionate heights, it does not do much for the consumer. According to IRS commissioner, Mark W. Everson, "The new breed [of non-profit credit counseling agencies] appears to be more focused on marketing debt management plans than providing educational or charitable services." Over the last seven years, the United States economy has been quite turbulent. Pre-9/11, American consumers demonstrated gluttonous buying behavior. Wallets and purses tightened after the crisis at the World Trade Center. As the economy continues to boomerang, many patrons are feeling the aftershock of a previous time of financial depravity. Subsequently, credit counseling services, debt management plans and debt consolidation loans are inundated with clients to serve. The overwhelming number of grievances regarding non-profit credit counseling agencies is an emerging concern. Tens of thousands consumers have filed complaints with the Better Business Bureau regarding the unethical and false representation of the debt management organizations. The government is looking into the problem via the Internal Revenue Service. It may conjure new audits and income for the country, but it may not impact predatory organizations for victimizing consumers entrenched in debt. Services Offered by Credit Counseling Agencies By and large, both for-profit and non-profit credit counseling agencies extend invaluable debt management support. The significance of a counseling agency offers the following services: * Acts as a liaison between creditors and debtors * Helps consolidate unsecured debt * Offers educational information * Assists people with better personal financial management The stereotypes associated with the indebted consumer are not all true. Unlike the classification of the irresponsible consumer who has charged their way into a financial stupor, a vast percentage of people have incurred extenuating circumstances. The misfortunate scenarios can be anything from a job layoff in a dying industry, to a medical fatality to the devastation of a divorce or even death. Credit Counseling, an Ultimate Alternative to Bankruptcy For the American who finds themselves ensconced in unforeseen circumstances, there are alternatives. Since bankruptcy can leave a big stain on one's credit report (up to ten years), credit counseling is the ultimate opportunity. As any industry has ethically bankrupt groups, the same is true of the debt management and credit counseling sector. With the escalation of American debt, a few illicit firms have been inspired to use consumer's misfortune to their fortunate advantageous. Consumer Smart Credit Counseling Nonetheless, for the American consumer in quest of credit counseling here are some consumer smart strategies to identify an illicit credit counseling firm from an ethical one. * Any non- profit that charges excessive fees * Fails to offer free personal financial advice for a do-your self solution * Neglects to discuss or disclose fair consumer's legal rights * Prior to providing counseling services, requires an upfront payment for credit repair * Advises the consumer to dispute all information contained in the credit report * Encourages the consumer to contact a credit reporting agency, directly * Supports illegal actions the consumer can take to amend their credit (for example creating a new credit identity) * Prescribes that the consumer to restructures a good credit rating by applying for an Employer Identification Number (FEIN) Essentially, whenever a professional agent, business consultant or financial counselor recommends any type of fraudulent activity, the consumer is liable for prosecution, as well. If you seek help from a credit counseling agency or debt consolidation firm that recommends any of the above fast fixes for your credit rating, report the unethical recommendations to the Better Business Bureau. Five Consumer Smart Strategies to Employ Before Opting for Debt Consolidation Conduct a background research on debt management firms. Check with your state's attorney generals office and the Better Business Bureau. If the credit counseling firm has a propensity for committing fraudulent business tactics, they will be listed on either the Better Business Bureau or the Attorney General's office. * Determine whether the service extends workshops on budgeting and managing personal finances. (It is one of the more prominent signs of an ethical credit and debt counseling/consolidation program). * Request how the financial counseling agency is paid. Generally, when debt representatives are paid on a commission basis, they are motivated to improve their financial status versus their customers. Do not forget to present the same question to any non-profit debt organization as well. * Inquire the credit counseling services hours of operation. The credit and debt service should be open during normal business hours. Be leery of debt management firms that contact you via telemarketing. * Request a list of fees. Before finalizing a credit counseling agreement, request a detailed overview of the fees associated with the company. Overall, steer clear of any credit or debt management firms that carry exorbitant fees or abnormally high deposits requirements. Finding the right debt consolidation program to get one's personal finances on track is a matter off applying the above consumer intelligent tactics. © About-Personal-Loans.com. All rights reserved. About the Author Holly Bentz is a finance writer and a contributor to http://www.about-personal-loans.com/ " About Personal Loans . ... Subscribe to our Financial newsletter! Your email:

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Saturday, December 22, 2007

How to Clean Up Your Personal Finances

Personal Finance
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How to Clean Up Your Personal Finances
Author: Rachel Lane

Are you one of those people who doesn't open their bank or credit card statements? Do you take out store cards on the spur of the moment? Have you been with the same bank simply because it is less hassle than changing?

If you have answered yes to any of the above questions, fear not confused consumer, help is at hand, with some assistance from a few internet tools.

* Internet tool number one:

** The consumer champion site for personal finance information

Websites such as Fool.com, Fool.co.uk and Moneysavingexpert.com have proved extremely popular with consumers. Fool.com is more geared towards the US market, whilst Fool.co.uk focuses on the UK market. Both have an extremely diverse selection of information from investment and high risk options to personal finance and low risk options. There are extensive discussion boards, newsletter subscriptions, finance calculators and competitions. These sites not only answer your questions, they make you want to ask more.

Fool.com, Fool.co.uk and Moneysavingexpert.com are community based sites and function on consumers exchanging information between themselves, whether that's about passing on recommendations or expressing concerns. The article "Ten Reasons To Fear The Future" by Cliff D'Arcy" on Fool.co.uk is a particularly good introduction to the financial aspects of modern life.

Martin Lewis has almost become a household name in the UK through his website Moneysavingexpert. The outspoken journalist and presenter offers a comprehensive resource on a range of personal finance topics. If you can put up with the cheesey photos of Mr Lewis and his catalogue poses, you will undoubtedly find this site extremely helpful.

* Internet tool number two:

** The price comparison site for personal finance information

Kelkoo, moneynet.co.uk and Lowermybills.com (US) are now commonly exploited by consumers to ensure they are getting the best deal on their purchases. However, it is probably fair to say that more people shop around for clothes and music, than they do for their personal finance products, which is worrying as these cost significantly more.

* Internet tool number three:

** Online banking and account aggregation tools

The internet can be a scary thing and there is still much scaremongering about online security. However your details are often as secure online, as they are offline and providing you choose and hide your password effectively – there should not be a problem with people accessing your confidential information. Choose a password of eight characters or more, preferably replacing some letters with numbers, such "1nternet" or "passw0rd".

Set yourself up with online accounts and you can proactively manage your finances yourself, without waiting for statements through the post or call centre agents to take your query. You can also save yourself bank charges by transferring funds yourself over the internet. Some banks charge large amounts for transferring funds when you can do it for no additional cost at all.

Personal finance doesn't have to be about debt and the efficient co-ordination of funds may save you hundreds of pounds in the long-term.

Resources:
http://www.fool.com
http://www.moneynet.co.uk

About Rachel

Rachel would be really interested to get feedback on whether anyone actually reads this section. Rachel has written about living in straw huts, having the 'Best Hits of 1987' in her music collection, eating Green and Blacks chocolate and the fact that on her left foot - her second toe is bigger than her big toe. If someone feels like rescuing Rachel from obscurity, she would be grateful for an e-mail out of here.

Rachel also writes for the personal finance blog Cashzilla – http://www.cashzilla.co.uk

Don't spam it though or she'll eat you.

Contact details
Rachel Lane Rachel@positiveinterest.com

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Friday, December 21, 2007

How Banks Can Help You Improve Your Personal Finance

Personal Finance
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How Banks Can Help You Improve Your Personal Finance
Author: Sarah Thomas

If any institution is known for managing finance, it is banks. This is why many people seek advice about personal finances from professionals at their local bank. Banks can provide you with personalized finance solutions. They can help you better manage your finances.

Talking to a bank advisor can often help you find out what financial solutions are available and how can these solutions can work to your benefit.

In order to boost your confidence in your personal finances and your future, you need to understand your goals and needs. When you thought through what you really want your personal finances to look like, you can go seek help from your bank.

Even if you have a concrete plan that includes all your wants and needs, but only a vague idea about what your financial future looks like, you should still drop in for help. They are there to guide you in your quest for personal financial liberation. They are there to help you--and you should utilize their services: that's what they are there for.

They are not the enemy. They are committed to helping people who seekhelp in financial matters.

Look at your current personal finance situation. Are you happy with it? Have you tried everything to better it on your own, to no avail?

If you have honestly tried it all, maybe its time you entered your bank and had a chat with them. They are there to aid you with almost all the issues surrounding your personal finance: How to pay less interest on a loan; how to save; and how to ensure that your mortgage rates don't increase.

And that's just a fraction of what they can offer you. Stop in your bank today, get advice, and start your journey on an alternative, better planned financial path.

Affordable Web Designs - http://www.kalinawebdesigns.com

Home Equity FAQs - http://www.homeequityfaqs.com

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Thursday, December 20, 2007

Financial Planning Software

Financial Planning
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Financial Planning Software
Author: Elizabeth Morgan

Financial planning software is specially designed to prepare a detailed financial plan for the individuals and business. It helps in personal budgeting, investment management, debt management, managing medical expenses, retirement planning and so on.

Financial planning software also helps an individual in tracing his finances. The software makes it faster and easier to pay bills online. It helps us to plan payments in advance and make payments as and when they are due. We can even prepare a plan for payments for a whole year in advance. If we pre-plan our payments, the chances are that we never miss or forget any payment.

A financial planning software also provides immediate information about our account balances and credit limits. So, we always have a clear idea about our financial position, that too in a very much precise and up-to-date manner.

Financial planning software forms an integral part in corporate planning also. It helps in discovering new business ideas, making estimates of future cash inflows and outflows, and taking appropriate steps for the effective management of funds. It ensures stability of business operations by reducing uncertainty. Financial planning software helps to minimize cost of financing through the judicious application of scarce financial resources. It ensures liquidity of the business throughout the year by achieving a balance between the inflow and outflow of funds. The software evaluates the profitability of different business projects and helps in selecting the most feasible one. In short, a financial planning software improves the profit earning capacity of the business.

Financial Planning provides detailed information on Financial Planning, College Financial Planning, Financial Planning Software, Business Financial Planning and more. Financial Planning is affiliated with Financial Risk Management.

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Wednesday, December 19, 2007

Financial Planning Explained

Financial Planning
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Financial Planning Explained
Author: Joseph Then

Did you realised today, when you go to the bank, unit trust or insurance company, financial planning seems to be the new buzzword amongst clients and individuals in the investment and banking field?

But, what IS financial planning, actually? Is it only for the rich or individuals who possess cash to invest? Or is it for those who desire to buy insurance and unit trusts? Or is it somthing that we layman can achieve?

The truth is that whoever has financial strength will meet their financial goals. However, in spite of of how much cash you are making, financial planning will assist you fulfil both greater wealth and financial security. Insufficient or poor financial supervision can certainly show the way to unthinkable financial disasters. Even the rich can become a pauper due to poor financial planning.

For instance, an uninsured loss can clear out all your accumulated riches. Insufficient savings for retirement can cause one into a lower quality of living or even worse, the postpone of retirement and numerous other fiscal catastrophes that are far too depressing to be named!

You wouldn't want to be in this situation! All these can be avoided by proper financial planning!

So in a nutshell, financial planning involves engaging a broad view of one's financial affairs looking over many areas of wealth supervision and then running through a step-by-step process to solve financial problems and achieve financial goals.

Financial planning is also about making financial choices. What are they? Some of the decisions will include things like:

- Should I spend all my takings today? Or should I preserve a segment of it for rainly days?

- Should I clear all my debts right now? Or should I enlarge my savings for retirement instead?

- Should I layout for my child's education? Or should I let him look for his own education applications and apply for a student's loan?

These are the decisions that can make or break your personal bank.

So, what is included in Financial Planning? If you were to wonder what areas wealth management would cover the following:

- Cash flow management: The ability to manage the liquidity of your cash

- Investment planning: The decision of making more money with the extra cash you have on hand.

- Insurance planning: Planning for the unexpected situations

- Retirement planning: Knowing how much you can have when you stop working

- Estate planning: Knowing and managing the ultimate value of your property.

All in all, an ideal financial plan does not focus on one angle or product exclusively. One should not look at just one aspect of the planning. It involves looking at all areas of planning, putting them together in perspective and finally the careful consideration when making financial decisions.

For more financial advise and help, please check out http://www.easypersonalfinance.com

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Anthony Marcus

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