By financen | March 23, 2017 - 3:44 am - Posted in Credit, Personal Finance

If you are in need of money, you must understand where you can find it and the factors that lenders will look at when they make their decisions about whether to approve an application. You should avoid taking risks that might harm your future so look closely at the advisability of borrowing against real estate or from your 401 (k) which is your retirement fund to provide comfort in your later years.

Your credit score is central to being approved for a loan and you should certainly obtain the copy you are entitled to annually from the three bureaus; if there are any incorrect entries on any, report it and get corrections done as a priority. One of the factors in your credit score is your level of debt against your available credit. If for example you pay off a credit card balance with a personal loan, don’t close the card account because you will be reducing the credit you have access to even though best advice is not to build up a balance once again.

You should only borrow what you can afford to pay back to avoid getting into trouble even if a lender offers you more; that is temptation similar to the irresponsible use of a credit card.

Your Mortgage

Where you are looking for a mortgage, try to make a significant deposit; it will mean immediate equity in the property but often a better interest rate as well. Mortgages are long term, up to 30 years, and though future income is not guaranteed you can only make informed decisions when proceeding with a purchase. Down the line your real estate may well be able to provide security towards further borrowing.

Personal financeHopefully you manage your finances well in the future and if you have been saving in a 401(k) retirement plan for some years, compound interest will be your ally. Regular monthly saving grows far more quickly than you would expect while there are tax advantages in such an investment anyway. It is your money and you have access to it if you wish, though you are obliged to repay from your taxed income. The problem is that if you withdraw any money, you will lose the growth that the borrowings will have earned you until it is repaid. There are better ways to get cash than touching your 401(k) though some will require that you have a good credit score and you make a realistic application. This is where your real estate can come in.

Refinancing

Current mortgage rates are low and refinancing is certainly something to consider. You need to look at all the elements of refinancing, including all fees for settling an existing loan (with nation21cashloans.com) and setting up a new one. If you have significant equity then you can take some cash out when you do the refinancing.

This is something that is certainly worthwhile if the sums add up. If you can get a fixed rate you will know exactly what your future commitments are while there are tax benefits as an additional advantage. As long as you accept the consequences of not making your payments on time and you can accept the term involved, there is little against refinancing if all the detail is included.

Home Equity Loan

You will be borrowing additional money without it affecting your initial mortgage that continues to run. Such a loan is for a fixed term at a fixed interest rate that will certainly be higher than you are paying on your mortgage.

Such a loan is fairly simple and can bring tax advantages yet you will need to have a good credit score and you should understand how much you will be paying back in total.

Home Equity Line of Credit

This is a facility that also offers your real estate as security. It is flexible and you can take money as you need it and again there are tax benefits but the interest rate charged is variable. Be certain that you understand everything because sometimes you will be offered an interest only start with your monthly repayments rising after a certain period. Just as with credit cards, there is temptation to spend when you have a credit facility like this. Think about the number of people who have succumbed to temptation and now have expensive debt on their credit cards.

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By financen | February 3, 2017 - 6:28 pm - Posted in Debt, Personal Finance

Many people in the US, especially freelance workers, struggle to keep their personal finances organized. But with working from home on the rise, freelance workers are set to reach 40 percent of the workforce by 2020. So, whether you work as a developer, designer, translator or manager, if you want to manage your money better, check out these few tips.

Don’t get dragged down by bad credit

Before you worry about your credit rating, make sure that you get an accurate copy. There are several credit rating bureaus you can check, including Experian and TransUnion. Study your report carefully, as it may contain some errors or even include debts that you have already paid. How do you go about setting the record straight? Send a letter to the credit report company that explains the error so that they can remove it and clean your slate.

Learn how to manage your debt

Learning to manage your personal finances is about learning how to set a budget. But, before you can realistically put money aside for certain expenses, you need to pay your debt off first. This can be particularly hard for college students who graduate with thousands of dollars to pay off. But, debt can also be disguised in other forms, such as credit card debt. Start paying off the higher interest debts first and allocate money each month to pay off your debt. Later on, you can simply continue to pay out this money – into your savings account.

Set your budget

Setting a budget is vital if you want to make sure that you live to your means. When you’re a freelance worker, you may not always have the same amount of income every month. So, separating your fixed costs, such as rent and utilities, from your miscellaneous expenses, like clothing and whim purchases is vital. Cut out any spending that isn’t completely necessary, such as your daily coffee or candy bar. You can live without those, right? And every little helps.

Personal financeThink like a saver

You may need to change your habits, if you’re better at spending money than saving it. So, try to put a part of your monthly income aside, for emergency use if needed. Also, consider your mid and long term saving goals, such as taking a vacation or saving up for a deposit on a house. Consulting with a financial advisor, or downloading a savings tracking app, like Mint or Level Money can be a great help.

Get a side-line job

If you’re lucky enough to be in a position where you don’t need to take on a second job, then good for you. But, if you want to boost your income temporarily, think about taking on more clients or extra work. Thanks to technology, there’s a plethora of jobs that you can do online, from writing and design, to customer service, or even selling homemade crafts on sites like Etsy. If you’re skilled in a second language, you could apply to work with an online translation service. You’ll need to have excellent command of at least two languages and, in some cases, an additional specialty.

Look for free activities

They say that the best things in life are free. While you may crave a night in a luxury hotel or a 5-star all-inclusive, your budget may not accompany you right now. So, try to enjoy your life and include activities in it that don’t involve spending money. Take up a sport, like running or cycling – cycling to work can even help you save on bus or gas fare. Check out local events where you live and invite friends to you, rather than going out.

Learning to become finacnailly smart takes some common sense and a lot of dedication. But, if you can instil these disciplines in your spending habits today, you’ll be learning how to manage your personal finances now and for your future.

Author Bio

Christina Comben is Content Manager at translation and localization services provider, Day Translations. Multilingual and qualified to MBA level, Christina is passionate about writing, traveling and continued education.

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In economics, wealth is defined as the net worth of an individual, that is, the value of assets owned by the individual net of all liabilities owed at a given point of time. For a layman, wealth could simply mean being rich. Well, wealth is much beyond these two definitions.

Deloitte, the audit, tax, consulting, enterprise risk and financial advisory services provider defines wealth as follows:

Wealth is the ownership of valuable resources. Wealth creation involves the building of assets by means of careful investment, usually over a long period so as to achieve an income stream that will ensure a continuation of a high-quality lifestyle in the years beyond retirement.

In a nutshell, wealth creation should give you the financial freedom to do what you want to do. For the purpose of long term wealth creation you need to carefully invest your savings over a long period of time so as to ensure that you have a sufficient corpus to meet your financial goals at different milestones of your life child education and marriage, home, and retirement. Hence, a disciplined and systematic investment approach is necessary for wealth creation.

Now, the question is where to invest for wealth creation. The answer to this question really depends on various factors such as your financial goals, age, number of dependents and risk appetite.

There is no one approach for creating wealth but it depends on every individual circumstances and personal choices. Various factors such as financial goals, market risk, return on investments, market volatility should be considered while investing. Your investment is likely to fall in four major asset categories over your lifetime.

debt equity

Equity

Equity includes any money invested in direct equity, mutual funds, exchange traded funds (ETF) and unit linked plans. The value of equity investment fluctuates as per the performance of funds. They can give high returns in the long run, however, they are highly volatile too, especially in the short term. Moreover, you need to be an experienced investor to ensure you are picking up right equity funds.

Debt

Also known as fixed income funds, they mainly comprise of Fixed Deposits (FDs), Public Provident Fund (PPF), National Saving Certificate (NSC) and government bonds to name a few. They give a fixed interest every year, along with the return of the principal amount at the time of maturity. Safety of principal amount and the regular income are the two important features of investment in debt. While the returns are fixed and guaranteed, but they are not high enough to give you edge after discounting for inflation and taxation.

Real Estate

Investment in real estate includes every property that you buy residential, commercial or land as well as the real estate mutual funds. The gradual increase in prices gives more stability to investment. Moreover, regular income can be earned if the property is rented out and the returns on investment can be increased by renovations and repairs. While the real estate market is less volatile compared to the equity market, there might be phases when real estate prices experience volatility. Also, you need to make large capital investments in real estate and it is difficult to sell property quickly. The sale of property is subject to capital gain tax, TDS and some other taxes (depending if the property being sold is constructed or under construction), which eventually lower the net returns from real estate investment. This makes real estate investment rank lower on liquidity and returns on investment parameter.

Commodities

Commodities include precious metals such as silver and gold in the form of coins, bars, ETF and mutual funds. Commodity investment is perhaps the easiest form of investment and can be bought or sold at any point of time as per your financial requirements. Over the long-term, investment in gold and silver can give high dividends and they can be easily mortgaged for availing loans. However, there are no tax advantages and fixed or regular income. Further, people have a tendency to stock up gold and silver rather than selling it. So, that makes commodities a less liquid investment.

Every asset category has its own risk and return profile, so does an investor. There are several investment plans to consider if you plan to invest in equity and debt instruments.

Mutual Funds

A mutual fund is an investment option in which money obtained from various individuals is invested in the securities like stocks, shares, bonds or commodities. Mutual fund schemes charge a small percentage of your investment as fees each year for professional and expert management of your investment. So your risk of losing money through investments is reduced in compared to if you decide to invest directly in the market without having the requisite expertise. There are different kinds of mutual funds such as equity, debt and balanced funds. So, you can accelerate your wealth management goal by investing in different mutual fund schemes depending on the risk you can bear.

However, returns on a mutual fund are by no means guaranteed as they are subject to the performance of funds. If you want to switch from one fund to another, there is no such option available. The only way to protect your investment is to completely exit by paying an exit load and then pay an entry load again if you wish to re-invest. So, if your investment amount in mutual funds is huge, the net returns will get affected.

Public Provident Fund (PPF)

One of the safest debt instruments, PPF investment currently gives an annual interest of 8.75% on deposit amount between Rs500 to Rs1,50,000 every year. The interest and returns on maturity amount is not taxable. However, the downside is that there is a lock in period of 15 years. The only option is partial withdrawal after after completion of 5 years from the date of opening this account.

Fixed Deposits (FDs)

FDs are a safe investment for a conservative investor since it provides a fixed rate of interest and can be easily converted to cash in case of emergency. But, the actual benefits or income from fixed deposit are annulled by the increasing inflation and tax cut. Let’s take an example here. You invested Rs 1,00,000 in tax saving fixed deposits five years back.

Principal Amount Invested (A) 1,00,0000
Interest Rate (B) 10% per annum
Current Inflation Rate (C) 5%
Net Interest Yield (B – C) 4%

Though you will get returns @ 10%, effectively you will get only 4% after factoring in inflation. The final effective return would be even lesser after deducting tax.

Term Insurance Plans

A term Insurance plan is the purest and simplest insurance plan that provides a huge life insurance cover at a very low cost for the specified period of time. If the policyholder dies during the policy term, the death benefit (sum assured or life cover amount) is paid to the nominee. The premium as well as death benefit are tax-free. There is no maturity benefit, though. An investment in a term insurance plan is highly recommended for your peace of mind and to ensure financial security of your dependents after you are not around.

Unit Linked Insurance Plans (ULIPs)

ULIPs are a goal-based investment that provides the benefit of insurance protection with strong wealth creation opportunities. A part of money invested in ULIPs is directed towards your life cover and the residual portion is invested in equity, debt or balanced funds of your choice. Though the returns on your investment is market-linked, you have a control over it since you have the flexibility to switch funds from equity to debt or vice versa at no cost, as per your financial goals and market fluctuations.

ULIPs have given steady returns over the last few years. ULIPs with an aggressive fund allocation (50-75% of the portfolio in stocks) have risen to 28.62% from 9.73% in the last five years.

Ulips

Source

ULIPs have a greater tax advantage too. Under Section 80C of the Income Tax of India a deduction (maximum of Rs 1,50,000) from the taxable income of individual is provided for the premium paid on ULIPs. The capital gains, maturity benefit and death benefits are also exempted from tax under Section 10(10D). ULIPs from reputed private insurers like ICICI Prudential have proven performance and track record, thereby commanding a trust and respect of investors.

Ideally, your wealth portfolio should be a healthy mix of equity, debt, real estate and commodities. But, again how and where you invest depends on your wealth creation goals and risk-return trade-off you are willing to take off. What you must remember is that wealth creation is not an overnight phenomenon. You must be disciplined, systematic and committed in your wealth creation approach.

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The job of managing your personal finances can be time-consuming. You need to have some basic knowledge about finances, and review your situation periodically. If you make poor financial decisions, it can take years to recover from your mistakes. Use these tips from successful corporations to manage your finances.

Creating a cash reserve

Ideally, everyone should create a monthly budget. That budget should include a line item for savings. Everyone needs a cash reserve. The extra cash you accumulate can help you cover an unexpected expense.

Mohawk is an example of a company that maintains a good cash reserve. In business, the cash reserve can cover an expense or be used to take advantage of an opportunity.

When you create a budget, you can use whatever system works for you. It’s critical, however, that you put budget in writing. If you can look at a piece of paper or on a computer screen and see your budget, chances are you’ll make the effort to stick with it.

Create categories for each type of spending. You should label each spending category as either fixed or variable. Say, for example, that your monthly income is $4,000 after tax. You have fixed expenses (home loan, car payments) of $3,000 and variable costs (food, gas, entertainment) of $1,000.

Assume you want to save $150 per month. If you need to cut expenses to generate savings, review your variable expenses first. Maybe you can cut down on dining out and come up with the $150.

Diversify your investments

When your savings balance gets large enough, you may consider investing some of those dollars. When people consider investments, they normally think of stock and bonds.

Hamad Darwish Al Masah Capital explains that investors can now consider alternative investments. Alternative investments include real estate, commodities and other less traditional securities.

The important point is to diversify your holdings. If you diversify, you won’t be hugely affected by any single change in the investment markets.

Maintaining good credit

If you have a good credit rating, manage your borrowing so you keep that high rating. Make sure that you can afford the monthly principal and interest payments on any debt you incur. Ensure that your payments are on time, and that your credit report is accurate.

A high credit rating also provides advantages to a corporation. Standard and Poor’s (S&P) rates the creditworthiness of businesses. The highest S&P rating is AAA.  USA Today reports that only three US companies had a AAA credit rating in 2014.

Both individuals and companies with a high credit rating can borrow at lower interest rates. This reduces the cost of borrowing and makes loan repayment easier.

Borrowing alternatives

Sometimes, a business cannot borrow through a traditional bank. The interest rate on the bank loan may be much higher than the company wants to pay. Hamad Darwish of Al Masah Capital points out that investment firms can help companies raise capital through a loan or buy issuing stock.

Individuals also have choices if they cannot get a loan from a bank or credit union. Borrowers can find a company that specializes in loans to people with poor credit. You can get the financing you need, if you’ll willing to pay a higher interest rate.

Use these tips to monitor your personal finances. If you’re willing to invest some time and effort, you can improve your financial situation.

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By financen | January 20, 2015 - 6:21 pm - Posted in Personal Finance

Individuals who want to make the year 2015 as productive and positive as possible should note that building wealth is a great way to make it happen. In many cases, people have made the acquisition of wealth a priority for the year. However, they don’t know which strategies to implement in order to see the financial growth that they desire. If this is your challenge, it doesn’t have to be a challenge anymore. Simply implement the following four strategies in order to build wealth this year:

1. Get Educated About Money:

One of the best ways to start building wealth in 2015 is to get educated about financial matters. There are a plethora of resources you can use to accomplish this objective, one of which is the Online Trading Academy. This educational facility offers Online Trading Academy Reviews services that help students optimize their trading practices in the stock market.

2. Build A Budget:

If you’re serious about building wealth in 2015, you need to get a clear understanding of where you are financially. The most effective way to do so is to create a budget. In so doing, you’ll be able to see how much income you’re generating on a monthly level while simultaneously getting a clear understanding of where your funds are going and how much disposable income you have after paying your bills.

3. Cut Out Excessive Spending:wealth creation

Although it’s psychologically rewarding to periodically engage in a “splurge” purchase, doing this on a regular basis is disadvantageous because it taps into revenue that you could be investing in more constructive, wealth-generating ways. For example, if you’re in the habit of purchasing a Starbucks drink every morning on your way to work, this behavior could total $100 a month. Over the course of a year, this is $1200 that you could have invested in a CD or the stock market.

4. Invest In On-going Education:

As many career experts know, one of the best ways to optimize your chances of receiving a raise is to get more education. With this thought in mind, it’s a good idea to invest in on-going educational courses. Luckily, the rise of the internet has led to a plethora of online learning options which make it easy for you to obtain additional degrees and certifications while maintaining a full-time job and/or fulfilling your domestic responsibilities.

Conclusion:

If you’re ready to start building your wealth in 2015, you should definitely have a strategic plan in place to optimize the process. By systematically using some or all of the strategies outlined above, you can begin earning more money and living the life you’ve always dreamed of. Good luck!

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By financen | November 14, 2014 - 7:05 pm - Posted in Personal Finance

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.

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By financen | October 28, 2014 - 4:42 am - Posted in Home Finance, Home loans, Home refinancing, Personal Finance

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.

home-loans

  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!

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By financen | September 1, 2014 - 4:00 pm - Posted in Credit Card, Personal Finance

Many people love the idea of using credit cards on a regular basis. They become so addicted towards it that it may sound scary for them to live without using it. Society will mold itself towards people using credit cards in order to survive. It is not at all necessary to be like this. Read this article to find out how you can manage your finance efficiently without using credit cards.

Manage-FinanceMany people have a poor credit history and they take loans from different lenders at very high interest rate. It also takes them years to rebuild their credit history. It will be a good move towards rebuilding your finance instead. You can buy things using cash instead of credit card. It will minimize the excessive use of credit cards.

You might be worried about your deposits. It is always better to pay for deposits rather than paying for interest on the credit card and various financial vehicles utilized when taking advantage of credit.

If you rent, the landlord will check your credit history, or perhaps you have bad credit, then it may not be that good to look at. If you have good credit, then you have plenty of options available on the internet. There are many people who are willing to rent without credit, but you have to do your research and check the ads online.

Many employers expect a good credit history from you before they offer you any job. If you do not have credit at all, but have good finance, they are willing to make exceptions. People having poor credit history must first work towards improving it without actually using it.

Credit-cardYou will sure save more money if you don’t use your credit cards. When you are living on cash, keep aside a certain portion of your income that will take care of your three to six months living expenses, and just keep on building it. It is a fact that many people who use excessive credit are not able to save at all. It is important to take control of yourself and be financially sound.

Whenever you do any purchases, prefer using your debit card instead of a credit card. It is good to spend what you can actually afford and that also without using any credit. This will make your life more balanced in the long terms.

It is not difficult to live without credit cards. Follow these tips and do all the purchases that you need to do in your everyday life. Your goal should be to live a life that is stress free and credit free.

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By financen | August 25, 2014 - 4:28 pm - Posted in Personal Finance, Scam

Many people want to get financial freedom and that’s why they start looking for different business opportunities or jobs or other ways of making enough money. It is important that you remain careful because if you make a wrong move, you end up being a victim of financial freedom scam. There are mischievous people and companies that want to take advantage of innocent people. These scammers are always in the hunt of people who are willing to risk their entire savings in order to get financial freedom.

financial scamsThese scam companies or individuals will take away your entire savings if you get into their trap and will leave you with nothing. It is time to get informed and spot a financial scam if you know what to look for. Scammers will promise individuals guaranteed financial freedom and it is quite easy to get into their trap. They will make false promises saying that you will become very rich in a very short period of time and that also without putting lots of efforts. That’s the dream many people have. Many of us dream about winning some kind of lottery without putting in any hard work. So how will you distinguish between a legitimate business offer and a financial freedom scam?

Those who are into doing financial freedom scams will use a very strong pitch to attract people, but if you study it closely, they are missing a lot of important details. It is easy for these scammers to promise you with a huge amount of money. All you have to do is just respond to their offer by paying down some earnest money or provide your banking details, social security number to them. Then they will use your information to steal your money or identity. So be very cautious before giving out your personal information to anyone you don’t know. It will be wise to decline the offer.

Before doing business with any company, it is important to do a background check on that company and check them with your local law enforcement agencies. A reputed business will have all their information available on the internet. And a scam company will also have all their horror stories published online. After all, you need to take careful steps to keep your identity protected. Everyone wants to get financial freedom, and while you are in the process of achieving it, don’t end up being a victim of financial freedom scam. You need to be diligent and thoroughly check out every business offer that you get and protect yourself from falling into a scam.

  • Helpful reading:

http://www.usa.gov/Citizen/Topics/Money/Financial-Crime.shtml

http://travel.state.gov/content/passports/english/emergencies/scams.html

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By financen | July 28, 2014 - 6:18 pm - Posted in Personal Finance

If you ever find yourself in jail, then a bail bond company might be of some assistance. You can contact the company while you are in jail, or you can get a family member or friend to contact the company. If you don’t have the money, then someone can pay for the bail amount for you. Land can be used as collateral if you don’t have enough to pay the bail or if it’s a higher amount. Companies charge various amounts ranging from 1% to 20% of the bond amount.

A bail bond company will receive the money for the bail and complete the paperwork for your release. Some companies will follow you through the court system to ensure that you go to court on the day ordered. There are also classes that some companies will offer so that you can get the help you need to get your life back on track. If you don’t go to court, then the bail bond company could revoke your bail and take you back to jail. You will then be responsible for the entire bond amount. Get Denver bail bonds here whether you are in jail on a misdemeanor or a felony charge. However, some felonies are not eligible for release on bail.

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By financen | September 19, 2013 - 5:44 pm - Posted in Personal Finance

People have emotions. It is a scientific fact and emotions have an influence on every episode of our life. Even if we make a purchase, the first decision is made by our emotions, and then logic is turned on.

finances

finances

The scientists state that women have a stronger attachment to security, while men do not. They would rather think of the family stability and she will think twice before buying an unnecessary purchase that she knows will be completely useless. At the same time men will buy anything if they truly liked this thing.

Therefore it is important to take into consideration your family budget and calculate whether you can afford it. As the most significant advice on managing your finances is – do not spend a lot of money and buy useless things, try to think beforehand what harm this unnecessary thing will cause to your family financial plan.

Even if you live by yourself, it does not mean that your emotions should direct your purchasing decisions. Such decisions are best controlled by your mind, not by your heart.

If you follow every your wish of purchasing does not matter what, you may fall behind very quickly. The debts will be collecting and finally you will have to save money on everything, even on coffee.

business-finance

business-finance

Nevertheless, if you bought something too expensive and you got yourself into a trouble, do not get too worried as there several ways-out for solving your temporary issue. The most convenient and fastest is to apply for fast and easy money borrowing online. Speedy process, no strict requirements, faxless service – are the advantages of such loans. They are designed to help people obtain fast money when needed and the required funds will be withdrawn from the customer’s personal bank account when a salary arrives.

Taking into consideration all these facts we just need to control ourselves not to get under control of our wishes and eternal wants. It is so easy to say yes to yourself, and then it will be so difficult to view the results of your rampant shopping. Every financial journal or magazine will give you the most important advice for staying on the top of your financial life – just spend less, save more and set up a budget. Write down all your expenses, income, every little detail that is connected with your finances. Try not to step over the budget and you will control not only your emotions, but life in whole.







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