Financial fitness, like physical fitness, is mostly about good habits. Here are some habits to adopt for better financial health.
Let’s look at 3 things to pay attention to when selecting the right Financial Advisor for you and your family. First how do you know they are legitimate, second how do you know they have your best interest at heart, and third how do you know they will be a good fit for you? Let’s explore all three of these questions in some detail to help you get the help you need.
So how do you do your due diligence and make sure an Advisor you are thinking of working with is actually a legitimate Financial Advisors with verifiable experience and up to date licenses? The first place you might want to check is a web site called Broker Check. You can just search Broker Check to find the official website. This website has a free tool to research the background and experience of financial brokers, advisors and firms. Broker check can tell you instantly whether a person is registered as required by law to sell securities offer investment advice or both. Broker check also givesRead More
As you probably already know, paying minimums on credit cards and bank loans do not lower your principle amount very quickly. When your balance is too close to your credit limit on a card, it actually hurts your score, even though you may be paying your bills every month without fail.
Paying the minimum can actually hurt you in some cases, especially on cards with high balances. Banks like to see plenty of breathing room on your credit cards. You are more creditworthy to them if you have plenty of availability on your cards.
Another reason you may be denied credit is your debt-to- income ratio. If your total debt is too close to your total income, Banks will not extend you credit. I struggled with these issues for years until i figured out what i was doing wrong. Every time i would lower my balances, I would run right out and build them back up.
By paying down your balances and making smaller purchases on your cards, you can raise your score significantly in just a few months. Only buy on credit what you can pay off at bill time. Buy something and payRead More
During a financial hardship, debt management companies help educate you on how to manage and or reduce your debt and offer you the help you need to get it done. Once you are aware of all of your options, you can make an educated decision about which debt relief program best suits your needs.
Often, debtors try debt consolidation programs or turn to bankruptcy only to find out that these solutions often cause more trouble than they are worth.
A good debt management program can help you eliminate your unsecured debts by up to 60% in just 12-36 months. Debt management companies negotiate with your creditors for you, so you don’t have to. An additional benefit of a debt management program is the fact that they assistance with creditor harassment.
Don’t let your debts control you. Through a proper debt management program, you can combine your monthly payments into one lower monthly payment and still pay off large debts in just 3-6 years. Debt Reduction gives you the power to eliminate your debts with the help of professional debt specialists on your side.
Many people have found themselves burdened with unmanageable monthly payments onRead More
The FICO credit score is used by all three major credit bureaus – Experian, Trans Union and Equifax. They are the companies that keep track of the credit and lending transactions of millions of Americans. The score is used to provide, in a nutshell, a figure that represents the credit-worthiness of a consumer. That score, which ranges from a low of 300 to a high of 850, is used in many ways by businesses and employers. The score is used by insurance companies to set rates, landlords to establish security deposits, and even prospective employers to determine whether hiring someone is a good risk. Despite the importance of credit scores in their lives, few Americans understand how it works.
The score is determined by a variety of factors, each of which makes up a portion of the score:
The dwindling finances after marriages can happen to any person, whatsoever be his financial status. However, certain important steps taken before marriage can save you from being one of them. The planning to finance the weddings must start from the very beginning. This however, does not mean thinking more of the finance than your spouse. Wedding finance will need decision on some important points. Difference of approach between the couple must be welcome so as to be aware of all aspects of the case.
The very first decision will be regarding the budget of the wedding. The ultimate burden of the heavy expenditure on wedding will have to be borne by the couple. They can either hold a modest wedding and have enough savings for the life time, or conduct an elegant wedding with no savings to fall back on in cases of emergencies. Listing down the expenses as necessary, unnecessary but desired, and completely unnecessary will be helpful. The classification of the items to the various sub-categories must however be a unanimous decision, to avoid any ill-will.
Once the decision on the budget is made, the borrowers will be thrown into a dilemma as toRead More
Major credit cards are accepted in a wide variety of places and venues. Indeed, the major credit card companies make it a point of promoting how wide spread card acceptance is in this day and age.
On the other hand, store-specific credit cards are good only at the issuing store.
It is simple to apply for major credit cards. Nearly any bank or financial institution can provide a customer with an application for one or another of the major credit cards. Additionally, the Internet has become a handy resource for those men and women interested in applying for and obtaining a major credit card.
Store-specific credit cards only can be applied for directly at the store or shop. Additionally, if the store has an Internet presence — and many major stores and even smaller shops do so in this day and age — applications for store-specific credit cards can be made online.
Many major credit cards do charge an annual fee. Some major credit cards charge an additional or supplemental membership depending on where the card was obtained.
Store-specific creditRead More
If you are seeking a bad credit personal loan there are a few things to consider. Since you are looking for a loan and you do have poor credit you should make sure that your loan will be reported to the major credit bureaus. It is important to check that your loan reports to the credit bureaus because this is your chance to improve your credit rating. I mention checking that your loan will be reported because many people will obtain something like a prepaid credit card thinking that this will help build their credit rating when this is actually not a loan, it is actually a debit card that carries a credit card logo.
Finding a lender that offers bad credit personal loans is not a problem because there are millions of people in the same situation as you who have had credit problems in the past but now have a different situation possibly because of a better job and can now afford to make their loan payments but that bad credit rating is still haunting them. Bad credit personal loans are becoming more and more competitive because of the fact that we are living inRead More
Credit card debt management in simple words is how to manage your debts efficiently and effectively. You need to follow certain things for an efficient credit card debt management. These are:
Credit Card Debt Management agencies prepare debt management plans for you. If you are using too many credit cards and finding it difficult to pay for it separately you can take the help of these agencies. You can deposit the entire amount of credit cards bills to them. They themselves will pay different bills from that money. They will teach you ways to control your spending`. These agencies in additionRead More
Bridging loan as the name suggests, is a loan to bridge the gap between the customer’s resources and the customer’s need. So it doesn’t matter what the customer earns, or what price will his house fetch on being sold. He can take a bridging loan to serve his immediate need.
Through a bridging loan he can have cash to pay for his new purchase, till the old home is sold.
Bridging loan is a short term loan having a repayment period of a week to six months. Once the customer sells off his original property he can settle the bridging loan.
The bridging loan is generally secured on the customer’s house / property. The customer can decide to tie either both new and old home to obligation, or any one home can be kept as collateral.
Once through with the property valuation, wherein the lender undertakes measurement of the worth of the house/ property (the value of a property depends on a number of factors. Prominent among them are the location of the house, home furnishings, the condition of the house, and many more), the lender can advance money to the customer within noRead More
I know there are so many words – secured loans, personal loans, unsecured loans blah! Blah! We are not financial wizards, for us all words denote the same thing – paying money. However, these words are invented for our understanding and help us to choose a loan that serves our need better. The name that stands out is secured loans. Secured loans are the best option available for any homeowner in UK. It is the most simple and efficient way to secure a loan.
Secured loans are a loan which is backed by collateral. Secured loan is offered against the guarantee of anything substantial be it home or any concrete property. It enables us to get loans according to our needs and also get them good deals for easy repayment. Self employed and unemployed also have a chance to get loans for they have collateral to back their needs. The idea of having collateral to back your claims for loan increases your claim as an applicant for loan. When one applies for a secured loan, he signs an agreement which is called a security agreement. This agreement increases the interest of the lender for he has aRead More
First off, and possibly most important, is to remember to NEVER miss a payment! Student loans are one of the few types of debt that you can’t escape or get rid of through bankruptcy. Student loan debt is considered a good debt and can help your credit score when you make your payments on time and for the amount required. On the converse, your FICO score can really take a hit if you don’t make your payments. In fact, the IRS can garnish your wages and take your state/federal tax return money in trying to collect on your student loan balances. You can also be charged collection fees along with attorney and court fees should the government need to pursue you in court in trying to collect on what you owe them. The bottom line: make your payments. If you aren’t in the position to make the payment they are asking for or you are unable to make anything at all, don’t just sit there! Call your lender and let them know your situation so they can work with you. Federal loan holders are really good about understanding your situation and working with you accordingly. Private lenders willRead More
You would not believe the nightmare I’ve seen clients go through, when they realized someone else’s bad credit history was showing up on their report, causing them to be declined for the loan the should have easily qualified for. Little did they know that every time someone on the other side of town made a late payment, or decided not to pay at all, it was being added to their credit report.
Believe it or not, I’ve even seen one specific case where “Mistaken Credit Identity” forced someone into bankruptcy! That’s right, a lady came to me wanting to apply for a new home loan. Unfortunately she had recently lost her job and her bills were starting to pile up, and her reserves were running low. Luckily, or though she thought, she had plenty of equity in her home that she could access through a home equity loan, to pad her bank account and give her plenty of breathing room until she landed a new job.
To her shock and dismay, I pulled her credit report and informed her that she did not qualify for the loan. She was in disbelief. “I’ve never had a lateRead More
Loans for doctors offer financial support to all specialist in the healthcare field. Therefore, doctors, dentists, veterinarians, podiatrists, chiropractors, optometrists etc – all are eligible for doctor loans.
Owning a home is not an easy task. The increasing cost of home buying has thwarted the loan plans of many a doctors and resident physicians. But with loans for doctors you can realize the plan to buy or build a house. Loans for doctors are committed to making home buying affordable. Doctor loans solve home buying dreams for resident physicians, practicing physicians, 4th year medical students.
Doctor loans enable you to use your equity for the purpose of debt consolidation. Debt consolidation is the ideal solution if you have prior personal and business debts. Debt consolidation through doctor loans would combine these debts into one single low interest loans. Instead of paying different loan lenders you pay to one lender. The monthly payment is then distributed to repay the various loans. The monthly repayment with doctor loans for debt consolidation is lower. This will leave funds free for your personal use. So, that loan repayment becomes not only manageable but also possible.
Doctor loans also provideRead More
Working at a place like Children’s Hospital of Philadelphia (CHOP) or facilities like CHOP does not come without a cost. Thomas Jefferson University has an amazing nursing program. Having said that, many of the young college students need a sugar daddy to help pay for their student loans. Every student’s first goal is to advance in life and get a successful education. Many never give thought to all of the costs that are associated with life at the university. This is where having a sugar daddy can help. A sugar daddy is someone who is willing to adopt a student, often called a sugar baby. This whole relationship between a sugar baby and her sugar daddy is a special one. This relationship is beneficial for both the sugar daddy and the sugar baby. As the student furthers their education, there are many costs. Things like tuition, housing, entertainment, food and the cost of books goes up every year. As a college student trying to find all of these funds and repaying student loans becomes stressful. A sugar daddy can provide an allowance that will help to pay the bills and keep food on the table while the studentRead More
Obtaining finance is central for starting a new business or making business grow. Financing a business through business loans can be a formidable task. But a good preparation can easily sort out any matter detrimental to getting your business loans approved. Taking a loan for business is an important decision. A business loans borrower must understand that while taking loans can help a business grow, a wrong decision will mean debt and actually damage financial stability of a business. Determine how much loan amount you require as business loans. There are different business loans products to decide from.
A well thought out business plan is the most significant part of getting a business loans approved. The business plan should have projection. Don’t go into details, a concise to the point executive summary which answers all the queries of a business loans, will gain easy acceptance. If you have an established business – financial statement, cash flow for the past three years will be required.
Business Loans application is reviewed, some of the following questions might come up in one version or the other.
While this may sound reasonable enough there are some disadvantages. Many of these payday loans are a short two weeks or so. Interest rates usually apply as well so depending on the interest amount, the loan may not be worth it.
The primary people that use payday loans are lower and lower middle class people. This can be a burden to some because of the rates that apply. Many people with bad credit use payday loans because they see that as their only option.
If you get a payday loan, you want to try and keep yourself from becoming trapped. If high interest rates are applied to your loan, you could end up repeating your borrowing of money; being unable to repay in time or even having your check held because you couldn’t pay in time. You want to steer of these risks if possible.
There are many ways to keep from having to use a payday loan. While sometimes you may not have any other options, there are ways to not end up in that situation. A great way to keep this from happening is to build an emergency fund.
Some people mayRead More
The purpose of a bankruptcy is for the debtor to get relief from their creditor(s). An individual files a voluntary petition to initiate the bankruptcy process. The bankruptcy process includes filing for bankruptcy status and eventual discharge of debts. After filing for bankruptcy, there is typically a waiting period for discharge of debts. During this waiting period the court could order an assessment of the financial abilities of the household or entity. Financial education courses may also be required by the court. This may be required to minimize the risk of a future bankruptcy.
The United States Bankruptcy Code includes 2 types of personal bankruptcies. The following is a brief description of each bankruptcy type:
Chapter 7 is the most common type of bankruptcy in the United States. An individual filing for a Chapter 7 bankruptcy must meet the requirements of the “means test for eligibility”. Eligibility for the chapter 7 bankruptcy allows the creditor to repossess any property used as collateral on debt that will be discharged in the bankruptcy. The bankruptcy trustee may also liquidate any non-exempt property and distribute the proceeds to any unsecured creditors. Exempt property typically includes: (1) clothes, and (2)Read More
How important is it to have clean or good credit? It’s very important because the worse off your credit is the harder it will be for you to secure a loan of any sort. It is important to keep on top of your credit finances and make sure that every payment is made on time and always make sure that you pay at least the minimum amount but always try and pay more if you can.
If you currently have bad credit, you shouldn’t worry too much as there are ways to still secure a loan such as having a cosigner. If you choose to go this route, remember that you are both responsible for the loan as it will be taken out in your names. Also, there are many institutions that work with people with bad credit and they will assist you with the repair of your credit file. Here’s a list of a few companies to assist you:
CreditAxis.com, DebtAdvocates.cc, Lexington Law Firm and more. Simply go to your favourite search engine and type in “Credit Repair” and see how many companies show up in your search.
The great thing about this type of aid is that it is there so as to allow those financially disadvantages students the opportunity to be educated. As long as the student continues to remain eligible on a yearly basis, then the aid is always there for them.
It is also true that any aid you may be granted is only intended to help supplement any other financial support you may have from other sources.
It is available from Government, state, Educational institutions and private companies. The purpose of this aid is to help with the educational expenses which include many things such as fees, school books, accommodation, transportation costs and other expenses the student may incur.
Provide that the student qualifies with the conditions of the loan provider and also as long as the student is capable of meeting the financial needs to service the loan on a monthly basis then financial aid can be obtained.
Monetary aid can be obtained from many different sources and if you are a doctoral student, then you may be eligible for a full scholarship.
As mentioned above this aid canRead More
With interest rates on some credit cards rising to over 23%, even low balance credit card debt can be crippling. One of the first research elements a prospective borrower should look at is the interest rate on transferred debt. This interest rate is often lower than the usual interest rate for the credit card, and can be an especially good deal for borrowers who have debt already. Another element to consider is the interest rate on new purchases – this rate will be the main concern in the years to come, as this new credit card will probably become the most heavily used. Borrowers often worry about annual fees, but these are often temporary. Getting a credit card with low interest rates will save a borrower significant sums, usually much more than the annual fee. Plus, once good credit is established, the annual fee may later be waived.
Another interest rate will usually apply, as well – the rate for cash advances. Cash advances are usually limited to a couple hundred dollars, but credit card companies often insist that when paying back the balance, the credit portion must be paid back first, then the portion that theRead More