Get out of debt using the debt snowball method

With the recent economic crisis, mortgage crisis, high gas prices and rising costs of basic living, many people are finding ways to get out of their overwhelming debts. There are a lot of people who try their options to get debt free but ..... More »

Are you unaware of any THD/CBSD account reported on your credit report?

You might find an account in the name of THD/CBSD reported on your credit report. If you are not sure about this account, you must dispute this item with the credit bureau reporting it. THD/CBSD stands for The Home Depot / Citibank South Dakota. More »

Facts about the escrow account

Every year thousands of people make big purchases on their homes. These new homes come equipped with all the latest amenities like granite counters, new appliances, the fresh smell of paint and new carpet. Borrowers are very excited to move to their new furnished home. More »

How to recover from Bankruptcy?

If we have been through bankruptcy then maximum of us think that our credit is shattered and we will not be able to regain it, but not that all times, you can regain credit through some unique ways. After filing bankruptcy your goal or motive should be .. More »

Mortgage Fraud

Mortgage fraud has been declared as one of the rapidly growing crimes (named as white collar crimes) in the country. After analysis it has been found that every fraud has some kind of material misrepresentation, misstatement .. More »


5 Ways to Come Up with a Business Idea

Business Ideas

While most startup business owners already have an idea of the kind of business they want to operate, some have trouble with developing the intricate workings of the organization. There is a great deal of planning that goes into developing a business, and you want to make sure that it’s accepted by the local community. What can you do in order to fine tune your business idea and make it a profitable experience?

Polling the Community

As it’s your community that will be paying the bills, you need to find something that will be widely accepted. Although you may want to build a computer repair shop, your community might not need one – which will directly affect your income. Get a sense of what it is the people around you are looking for and try to fill a need. Perhaps you could combine your strengths with something that the populace could use. For instance, your computer repair shop could double as a coffee house turning it into an Internet cafe if that is what locals would like to have.

Monitoring Possible Competition

Your competition could provide insight into how well your business could perform. Monitor how the community utilizes these businesses and determine what may be lacking. If you could excel in various areas in comparison, your business could be a welcome addition despite the overabundance of competition. However, your business idea could fail miserably if you don’t have something to set your idea apart from competitors. Business Ideas

Franchise Investments

Buying into a franchise could greatly reduce a lot of the legwork for developing a business. Usually, a large portion of the micromanagement will be completed by the parent company. As long as you can adhere to specific standards, hours of operation and product guideline, the franchise investment could be an excellent choice. By committing to investments such as a Cold Stone Franchise, general advertising and branding are already working for you.

Researching Past Businesses

Finding information regarding past businesses may be greatly beneficial regarding your locality. For instance, you can determine if a certain business niche has a history of failure within your community. This can help you prevent from making the same mistakes or perhaps give you insight into how your idea may work by offering slightly different products and services. Keep in mind that businesses that failed a couple of decades ago may have a different experience today as the next generation of consumers is available.

Neighboring Cities

If you live in a rural area, you could base your idea off of the consumerism of nearby cities. For example, do people in your area travel to other cities for shopping? If so, then you need to figure out why. This could provide insight into how you could bring that shopping experience to your community. This could work in larger cities, but it may be more difficult to observe the movements and shopping habits of others without polling those individuals.

One of the most important documents you could ever set up is the business plan. This document not only helps you when securing loans and investors, it’s a method that can help you focus on your idea. By taking your time and hammering out all of the details, you can discover what it is you want to accomplish. You shouldn’t rush into a business without first having all of the details mapped out.

Beating the holiday season rush. Saving money in your wallet

Save money

It may be the season when the pumpkin spice lattes when the leaves are changing. The holiday shopping rush is not too far away. You may be getting ready to prepare your gifts list, there are a few tips that will give you a head start and keep your budget intact.

As per the National Retail Federation, holiday sales are expected to increase 3.9% to $602.1 billion in the month of November and December. This number is a little bit higher than the 2012 3.5% rise in sales, and the forecast is also above the 10 year average of 3.3% growth. This NRF forecast is deeply blending the confidence of the consumers, consumer credit, disposable personal income and monthly retail sales releases.

Experts believe that this season’s spending increase is nominal, and many companies are also seeing average spending on the uptick, at about $160 per person this year. The shopping season stretches for a longer duration over the next few months leading up to the holidays.Money

This is that time when you can use it to your advantage. You can start purchasing from now onwards so that you don’t have everything bundled up in November and December. It will create a big pressure in your wallet.

There are a variety of shopping deals during the holiday season. The first set of deals start rolling out in September and October on apparels. This year you can expect many good deals on apparels due to weaker back-to-school shopping period. Put your hands on the layaway programs as early as possible. Go out and buy the best toy for your child at a much cheaper price.

Once the clothing sales are over, the prices on electronic goods will start going down. This will happen sometime around Thanksgiving. You can expect the maximum savings on that particular day. You can also save a good amount of money on Black Friday and Cyber Monday. Many companies offer lucrative deals to entice the consumers to come off their couch and get into the store.

The final sale starts in the month of December around Christmas time. This is the time when stocking stuffers put their items on sale. You will get good deals on different accessories along with consumer electronics.

This year mobile companies will also do good business from the previous years because they will allow their customers to shop from anywhere and anytime.

Three Reasons to Work with a Broker for Your Mortgage Needs

Mortgage broker

Brokers are professionals who act as middle men between two or more people. Mortgage brokers are professionals who can help you get a better rate on your home loan. Though you might think that brokers only work with those currently shopping for a loan, they can also work with those who have an existing loan. Brokers may also help you reduce your debt and get your debt issues under control.

Get Fast Approval for a Home Loan

When it comes to mortgage rates Burlington brokers look at current market factors and the rates charged by lenders. Your credit history often determines the interest rate that you pay on your home loan. The more payments you make on time and the lower your ratio of debt to credit is, the lower of an interest rate you’ll receive. Brokers actually help you shop around to ensure that you get the best rate. Instead of going to multiple banks and lenders, filling out multiple applications and waiting for a response, you’ll know quickly which lenders will loan money to you. You can also get pre-approved for a loan, which lets you shop for a home before you have the money.


Transfer Your Existing Loan

Do you have a high interest rate on your current home loan? You might think that you’re stuck paying off that loan for the next ten years or longer, but you can get a better rate on your loan. Brokers can help you shop around for a lender willing to take over your current loan. This shouldn’t add any additional time to your loan, but you will have the chance to save thousands over the long term. Brokers work with more than 50 different lenders and can help find the best interest rate for you.

Consolidate Your Debt

If you feel like you are constantly swimming upstream and that you will never get your head above water, it’s time to get in touch with the Kupina Mortgage Team or a similar broker. There are different types of debt consolidation programs that can reduce the total amount that you owe and bring down the amount that you must pay every month. Talking to a broker is the best way to find out more about the debt consolidation and mortgage programs that are open to you and how you can apply.

Tips for Reducing Your Debt

Debt Reduction

The hard truth about debt is that there’s no quick fix. Anything that promises you immediate freedom from debt will probably only get you into more debt in the long run. That doesn’t mean that it’s impossible to get rid of your debt and gain financial freedom, though. Follow these tips to save money, pay off debt, and start on your path to living debt-free.

1. Check into your insurance plans to find out if you can lower any of your plans. Look at your cable package – do you need everything you’re paying for? You may be able to lower the package or even get rid of it altogether. Check out all of your recurring payments to determine if anything can be lowered.

2. Learn about your debt. What exactly do you owe and who do you owe it to? Are there any mistakes on your credit reports? Getting a handle on the true state of your debt is a must before you can begin to take care of it.

3. Make a plan. How will you tackle your debt? Some people like to pay off the smallest creditors first because they get a feeling of accomplishment. Other people prefer to pay off whatever debt is charging the highest interest rate. The key is to do it in a way that’s sustainable over the long run. If you need to find out more about handling your debt, talk to a specialist.

There’s no big secret to paying off debt. Spending less, saving more, and dedicating part of your earnings to your debt is the only way to get it paid off.

Should I use a PPI calculator?

payment protection insurance

Many people who have been mis-sold payment protection insurance (PPI) policies are unaware that they can claim back the premiums they have paid. Millions of PPI policies were sold alongside loans, mortgages and credit cards. A High Court ruling means that banks and other lenders who have breached the regulations are obliged to pay back all fees – plus compensation – on such policies. It is now known that billions of pounds have been set aside to cover the costs of this scandal, and with an industry average payout of just under £3000 per policy, it is well worth seeing if you are one among the millions who are owed money back from the banks.

  • How Do I Know I Can Claim Back PPI?

You can claim back PPI costs if you can prove you were mis sold the policy in the first place. When you took out the loan concerned you should have been given a full explanation of your rights regarding PPI, including the right to look for the best deal. In many cases the lender implied that their own PPI policy was necessary, and in some the borrower was not even told they were paying into a PPI policy and it was just added on to the repayments.

  • PPIShould I use a PPI calculator?

The use of a free PPI calculator will give you a fair idea of the amount you may be owed. Details needed to give a more accurate figure include the name of the lender, the type of credit, the duration of the loan and its interest rate. It will only be an estimate though will be a good indication of the money you should expect back. The compensation amount will be the PPI premium, interest you paid on that premium, and a certain percentage in compensation too.

Remember, you may have more than one PPI policy on which you are owed a refund, so be sure to check all the paperwork you have relating to credit agreements past and present, and do a separate PPI calculation for each one.

  • How Best to Claim Back PPI

You are able to lodge a complaint for compensation directly against the bank yourself, or you can appoint a professional PPI claims company to do the claims process on your behalf. FreePPICalculator operate on a no win no fee basis, meaning it won’t cost you any money at all if you don’t win your compensation case. It is well worth using the PPI calculator and speaking to an advisor to see if you may have a case; they help hundreds of people win their money back from the banks, in a swift and hassle-free way.

4 Reasons Why Getting Your MBA Makes Financial Sense


When considering whether you should get your MBA, one of the first things that come to mind is the financial cost you will have to bear to achieve this goal. Although there are a number of schools that you can get your MBA from, there is no doubt it is quite costly. However, when you take a look at the multiple reasons why getting your MBA makes financial sense, you will see that the cost is worth the benefits you will receive.

Financial Gain

Financial gainImage via Flickr by Tax Credits

By far one of the biggest changes you will see once you have achieved getting your MBA is your financial gain. Statistics shows that although the average bachelor’s degree graduate makes $50,000 per year, the MBA graduate earns up to $207,000. As you can see, the financial gain has the potential to more than triple your current earnings. That is a substantial increase, and if nothing else makes financial sense, your increase in salary does.

Return on Investment

There is an argument that there is not a good return on investment when it comes to the cost of getting your MBA. That is accurate if you attend an expensive college and are looking for a quick return on your investment. However, statistics shows that when you choose to attend a cheaper college with shorter completion times there is a great return on investment. So look at getting your online MBA. No GMAT? Don’t worry, in some cases the GMAT or GRE is waived due to other qualifications.

Entrepreneurs Profit

If you are currently a small business owner, you may be considering hiring an MBA graduate to take your business to the next level. You also may be saying to yourself, “Why am I going to hire someone else to do what I can do?” The answer is to go out and get an MBA yourself. The money you would spend on paying an MBA to get the job done is the same money you can spend on getting your degree. You have proven to be successful, and you have the drive to succeed. With an MBA, you will skyrocket your business to the next level.

Increases Career Options

In a volatile market where today you have a job and tomorrow you don’t, not to mention that jobs are hard to come by, it is good to know you have career options. With an MBA, you don’t have to worry about whether you will have a job tomorrow because you can get a job in every industry. All businesses both profit and non-profit benefit from having employees who have their MBA. There is no limit to job opportunities when you have your MBA.

From things as simple as a large increase in salary to making yourself indispensable to the business world, there are many reasons why getting your MBA makes financial. So while the cost of getting your MBA is substantial, it is clear that it the financial gains outweigh the financial costs.

Find More Money During Retirement


You’ve worked hard every day for decades, so you’re ready to relax and enjoy your retirement years. Retirement is a great time to focus on your interests and spend time with the people you love the most. However, unexpected expenses and higher costs can sometimes affect your retirement plans. If you’re looking for extra money, consider these ideas that work well during retirement.

  • Put Your Passion to Work

You’re done working full-time, but that doesn’t mean you can’t bring in any income during retirement. In fact, you won’t even feel like you’re working at all if you put one of your interests or passions to work.

For instance, if you miss being around your grandchildren, you can earn some extra cash babysitting for local families on weekends. If your friends and family members rave about your cheesecakes, try offering some for sale during the next holiday season.

  • Consider Reverse Mortgages

A reverse mortgage is a type of loan that was specially created for seniors in their retirement years. When you sign up for this type of loan, you will receive money each month instead of having to make a mortgage payment.

Best of all, you don’t have to make any payments as long as you continue residing in that home, and your Social Security and Medicare benefits will not be affected by the money that you are receiving.

Many borrowers love the peace of mind that comes from knowing they no longer have to make mortgage payments, and this brings a significant amount of money back into your monthly budget. money

  • Reduce Expenses

Finally, you can keep more money in your pocket each month simply by reducing your expenses. You want to be able to enjoy your life, but you can likely find some budget areas to trim while still maintaining your standard of living.

Start by taking a look at your recurring monthly expenses. Maybe you can reduce your cable bill to a more basic plan or cut long distance calls from your home phone since you normally use a cell phone. When you are able to reduce your recurring expenses, you’ll enjoy the savings every month.

When you don’t have to worry as much about finances, you will be able to enjoy your retirement instead of analyzing every dollar that you spend. Financial freedom should be one of the best parts of your golden years!

Getting a personal loan irrespective of your credit history

personal loan

Sometimes we get into financial mess that may not be created by us. If you are one of them and are feeling trapped, there is an easy way to get out of this mess. Sometimes you get frightened thinking that the lenders will turn down your proposal because you are a bigger risk to their finance. Now you don’t have to go through such difficult financial situations. Recession has left its toll on many of us. People who never thought that their credit will get bad are now facing this tough situation. You can easily apply for a loan with different loan companies. You just have to do a search on the internet, shop with different companies and figure out the best deal in your favor.

What makes a loan high risk? This is that type of loan which is applied by a borrower who has bad credit and is in tremendous need of cash. Just do a search on the internet as per your requirements and you will find different lenders. Although they may not specialize in this type of loan, but they can approve your loan requirement. These lenders have a fair idea about such requirements of the borrowers. It does not matter whether you own a car or a home, to put as collateral, you still have the chances to get approved. All you need is a steady income and an active checking account, and many lenders will be willing to do business with you.

Based on the collateral that you have to put against the loan, you can apply for a bigger amount. An unsecured loan that is offered without collateral can range between $1,000 to $25,000 and you can pay it back between 1 to 25 year time frame.

creditWhen you are applying for an unsecured loan, it is obvious that the interest rate will be a lot higher considering the risks involved with it. Hence, it is better to pay back a small loan quickly than letting the interest charges kill you slowly over a long period of time. Hence, you should borrow a small amount, so that you don’t end up paying a lot in interests and fees. And once this loan is getting paid off, it will improve your credit history. Once your credit score is back up, then you can get better deals from the lenders.

Application process is very easy. You just have to get online, fill the application form and your loan will be processed. Make sure that you have fully read the terms and conditions in the contract copy to avoid any confusions at the later stage.

10 Tips to Organise Your Home Finances


Home finances can be a daunting subject for most couples (even singles). The logistics of creating a budget while making sure that each bill is paid on time, and at the same, ensuring that you and your family don’t go hungry is enough to make your head spin. A lot of us who manage the finances of our family are trained handle this type of responsibilities. However, it doesn’t mean we are unable to create a budget that will ensure that we meet all of our obligations, at the same time, allowing extra money for fun. It all boils down to organization. If paying your mortgage is part of the picture, then using a mortgage interest calculator can be of great help.

Here are a few tips to help you organise your finances at home:

  1. Make a list

This list should include all your monthly bills and the days they are due. Also include a reasonable monthly budget for food and grocery items. You also have to set aside an amount to pay your utilities and other expenses. Add the total amount of your expenses and less this to your monthly income. This will give you an idea how much extra money you have that you can save or use to buy some of the things you or your family need. This budget planner is probably the best example I have used to date. It really is excellent.

  1. Set up a savings system

Saving is the most important thing you can do for yourself and your family. At bare minimum you should have a savings account for emergencies and one for extras. Emergencies include things like a broken water pipe or anyone in the family getting sick. Extras are for buying a gift for your mother’s birthday. You can have these savings build up either in separate bank accounts or in a safe place in your home. It is wiser to keep your emergency account at a bank for safekeeping.

  1. Make a plan for paying off debts

Most people have several credit cards, car loans, mortgages, and other types of debt. The best thing you can do for yourself is to get rid of it! Start with the smallest debt and pay it off. Once you do that, you can then focus on the bigger and longer term debts like your car loan or mortgage payments. In case you come up with a substantial amount, try to pay off the bigger debts. If you have good credit, check out a balance transfer deal as these can save you a lot of money. They’re relatively easy to set up when you apply for a credit card online. Use the money saved to repay debt and keep this up until you are debt free!

  1. HomeNever take out a payday loan

A payday loan may seem like a good idea because you get cash quickly; however, it also comes with high interest rates. Paying a loan with high interest rates will only put you in a deeper hole than you started in. When emergency crops up, and you don’t have the savings to cover it, instead of going for these types of high interest rate loans, consider selling some things or swallowing your pride and call your mum for financial assistance.

  1. Know how you will pay each bill before you get it

Since you have made a list of the bills to pay, you already know when they are due and how much they will be for (with a few exceptions). It’s time to decide where the money is coming from. If you are paid monthly, this is easy. If not, then you will need to decide which week you will pay which bills. Make sure to get them paid a few days early, so you are never worried about late fees.

  1. Budget your leftover money

After you have figured out how much you need for bills, groceries, transportation, and savings, you can start looking at your “extra” money. If you like to take vacations, then you will need to set aside some to save for that. Other than that, you might want to budget a certain amount of weekly fun money for each family member.

  1. Files

A good way to keep track of all of your bills, receipts, and payments is to keep a file folder. Have a separate folder for each bill and bank account. To keep them organized, keep all the relevant information in the file. For example: electric bill for January – keep a copy of the bill, a copy of the check you paid, and the receipt of payment. If necessary, keep any other correspondence about the bill in that file as well. Shoeboxed is about as good as it gets for this.


  1. Balance your account daily

Save all the receipts you get in a given day in your wallet. At the end of your day take five minutes to get them out and write them down or check them against your online account statement. This has the added benefit of making you consider what you buy because balancing the books isn’t exactly fun.

  1. Cut corners where you can

Groceries don’t have to be your most expensive bill. Most local brands taste about the same as the branded ones. Also, you don’t have to cook a gourmet meal every night. Most kids and men like Mac ‘n cheese just fine. Also if money is tight, you don’t have to go to the salon to get your nails done. Make a one-time manicure kit purchase and do your own. Learn to paint your own house. Seriously, your budget will thank you.

  1. Relax

Money does not have to be a constant source of aggravation and worry. Once you have a system set up, then you can just run through the system each month without a lot of thought.

Managing your finances need not be an overwhelming task. There are many resources, methods and tools like the mortgage insurance calculator that help in manage your home finances. You can do it!

Helpful tips on how to save money


If you can learn how to save money, then you will know how to spend wisely. It is an art of knowing on what you need to spend necessarily and not on what you want. Many a times, we spend a lot of money on different things that are not practical and are bought on impulse. There are some practical tips that will help you to avoid such unnecessary spending.

        1. Going for second hand items – There are some items like furniture or curtains that can always be bought second hand. As long as your personal hygiene is not in question, you can always go for used items. It will save you a lot of money.

      2. Stop doing unnecessary expenses – Many people like eating out in fancy restaurants or going to their favorite coffee shop. You can save a lot of money if you can skip going to these places. This will also enhance your culinary skills that you never thought you had.

       3. Stop going to places where you feel tempted to spend – Many people like going to the malls and see all kinds of fancy items that will tempt you to spend. Before you can realize anything, you might have purchased many items that were not at all necessary because the saleslady sounded so convincing. If you want to save money, then you need to stop going to such places where you feel tempted to spend.

      4. Finding out ways for practical entertainment – Many people like watching movies or listening to their favorite song, but that does not mean that you have to spend every time on the matinee shows or go to see a concert only to see the artist singing your favorite song. Many movie studios do free advanced screening to promote their film. You can also try to get free tickets for night shows and watch your favorite movie. And if you want to hear your favorite song, go online and download it free of cost.How-to-Save-Money

It is not at all tough to find ways of saving money. Instead of going to the store, you can try online shopping where you get good discounts and other items at a cheaper price. When you are able to buy things online, it means that you don’t have to drive and burn fuel. If you are a student or you go to work every day, then you can talk with your colleagues and arrange a carpool. This is another good way of saving money in gas and parking fees.

There are many other ways of saving money in your everyday life. No matter, how much you save, always remember that a penny saved is a penny earned.

Choosing the right kind of high income funds


Many people have talked about many types of income oriented funds and in many cases, they do not have a bright future ahead, there are some income based mutual funds that are even better than lower risk equity funds. Though some people have written about the risks in income investments like bonds and other high yield investments, it definitely makes sense if you want to own these high income funds.

There are many people who have no choice but to own high income funds, yielding high interest rate, and threatening the recent, strong performance, that a lot of these funds enjoyed. Not all the high income funds are bad. There are many that will perform better for a lot of investors. You just have to find the right one according to your portfolio.

There are some considerations that all investors should keep in mind while investing in High income funds.

Good yield: Even with an above average yield, investors who have invested their money in income funds will continue to earn considerable income. They are not very much affected even if the market value of their income investment drops. It also means investing in higher yielding corporate issues that involves a little bit of risk because corporate issues will not drop as much while rates increase overall. The risk premium that has previously been priced into a lot of these types of investments will diminish. This means that the rates of high yield corporate bonds will rise less than they will for government issues which can and will rise considerably. Hence corporate bonds will have fewer risks than government bonds.

Fund managementGood track record: There are many investors who either lack the resources or funds to create their own bond portfolios. Hence they want to invest their money in mutual funds mainly comprising of bonds. Hence the investment process becomes a lot easier because finding historical, risk-adjusted performance records are simple. An income fund having a strong track record and solid returns will be good for a safer income based investment.

Positive inflows and/or high capitalization: Funds having a steady stream of inflows or those with a large capital base will have greater liquidity. This is possible with any type of investment because it allows investors to draw on them. And when the investment is funded properly, the risk of having the fund closed is reduced considerably.

While investing in high income funds, it involves some risks, the income asset class is a must for all investment portfolios. Excel Funds Management Inc may guide you to take the right decision. If you choose the right one, it will make a big difference and the investors will get a lot of success and satisfaction.