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Jeremy Schalf

Federal Debt

Not any more though. In recent years this has certainly not been the case. Less money coming in every year with more going out has put us in a position where the United States debt is so high there are some who wonder if we will ever come out of it. This has also resulted in some of the worst infighting in recent memory among members of both political parties in Washington. According to them, it is the other party’s fault for the growing federal debt.

And if you listen to the “experts” there are as many different viewpoints as there are people in the know. Some think that there are ways out of our national debt mess, even though it may take a number of years. While some think that the United States’ role as the leader of the world may be coming to an end. For the most part though, most of the financial gurus fall somewhere in the middle when analyzing and forecasting the federal debt situation.

One thing is for sure. In order to straighten out this serious mess that is the federal debt or we can say Government debt, it is going to require cooperation between both political parties. They are going to have to come together for the good of the American people, as well as the financial stability of our nation and find solutions that are going to work and whittle down this quickly growing USA debt. If they don’t then the nation can just expect more of the same old same old.

If there is one place where there is a general consensus, it is in the area of defense spending. The long drawn out wars in Afghanistan and Iraq along with massive military and defense expenditures has really put a strain on the nation’s coffers. There is now way a solution will be found for the federal debt crisis without decreasing the massive amounts of money going toward defense.

Paying the Rent Online

Improved customer service

Instead of collecting rent personally and processing the check payments, they can have more time to focus on their marketing efforts and improve their relations with tenants. This is a way of improving their relationship with the customers, and also a way of providing them with better services.

Controlled management costs

Collecting rent online reduces the expenses related to managing properties. A landlord will be able to reduce operational costs and maintain a low property management fee. This will benefit many property owners.

Decreased number of past due accounts

There are different online payment options, such as PayPal, credit card and eCheck, so there will be a significant reduction in terms of late payments. In addition, tenants get reminders via text or email when the rent is due or fast approaching, prompting an immediate payment, if the system is in an optimized mobile device.

Faster dispute resolution and audit track

Rent that is paid online has digital paper trails. So, when a tenant claims that he paid online, the property owner can confirm or refute the claim by accessing the system. The fully integrated software for property management will allow owners to view the late charges, update the owner system and track split payments automatically.

It is safer for them to process rent payments and owner disbursements since personal details are not compromised. Their accountants can get a snapshot of tenants that have paid to enable well-informed financial resolutions.

It is Easy to Stay Organized

When money goes from one hand to another, a higher degree of organization is needed. When more tenants and properties are involved, there is a higher probability of committing errors.

Even when managing one or two properties, collection of rent checks on a monthly basis involves communication and organization to make sure that the payment is received in a well-timed manner. Errors, however small they are, could be disastrous when they are caused by arguments wherein the landlord and tenant insist that they are the wronged party.

Added security

Online rent payment eliminates the risks that come with cash payments. Furthermore, the insurance company will most likely lower coverage when there is less cash on-site.

Check Your Debt Using Your Smartphone

From an entertainment point of view, the Smartphone, in comparison to its predecessor — the third generation mobile phone, offers a lot more value in that the battery power is much better, the device is more fun to operate, it has a bigger screen, it has greater processing power and it very closely resembles what could be a full-featured personal computer.

People watch movies on their Smartphones, they store their entire music collections on their smart phones and even shoot amateur videos themselves, amongst a long list of other things.

For all its entertainment value though, the power packed in the Smartphone can be used for more constructive operations, such as how to check your debt.

The amazing world of Smartphone applications (apps) has opened up a whole new world of possibilities, simply because most apps stores are filled with apps that were developed by an open community of developers.

This model of opening up the door to third-party developers is single handedly responsible for the millions and millions of apps available to consumers all over the world, as community, third-party developers usually develop apps to fill a specific need, one which they might have had themselves, so you can almost be sure of their effectiveness.

Obviously some apps are more useful than others, but if you look under the “personal organization”, “business” or “finance” categories, you can find some of the most useful Smartphone apps, including tools with which you can check your debt easily.

Because of the design environments’ architectural make up, almost all the apps you find in dedicated apps stores are tweaked and suited for peak performance on your Smartphone, offering secure data transfer protocols, so you can be sure that your user experience is a good one.

Generally though, third-party developers’ apps, even those which you can use to check your debt with, are developed with a general idea in mind and can only function as general tools.

If you want something a bit more specific, you should go for Smartphone apps that are developed by the financial institutions themselves, as this will allow easy access to your official debt records.

If you have credit with your specific bank, for example, rather use a debt-checking app developed by that bank, instead of one developed for general debt checking use, that way you can be sure of the security of your information and you will never get frustrated with features that don’t quite do what you want them to do.

Third-party apps, developed more with a general view in mind, are usually great for the synchronization of your debt checking environment.

One third-party app would be great to collect all the data from all the other debt-checking apps, developed by the financial institutions of your official creditors, and put them all in one place, with added features such as tallying everything up and reports displaying in the form of charts and the like.

It’s easy to check your debt using your Smartphone — just get the right apps.

About Gold Prices

The balance of trade – The deficit is increasing

One reason for the continued increase in the price of gold is the growing deficit in the balance of trade with countries like the US. The reason for this is the increased worth of imports, compared to exports. The imports have increased by 1.4%, whereas the exports grew up by just 0.4 percent.

The reduced production of gold

Another significant reason for the upward trends in the cost of gold is a reduction in the quantity of gold produced by countries like Australia, Philippines, China, Canada, South Africa and the United States. Since the present production fails to match the requirements of the market, the cost is going up in the rest of the countries.

Political and economical factors

Experts are of the opinion that political and economical events all over the world are also responsible for increasing the prices of gold. For instance, the price went up by nearly twenty-five percent in Asian markets during 2010-11 due to fluctuations in the international prices of oil. This had a negative effect on the exchange rates of currencies of different countries. This led to the storage of large volumes of gold by a number of countries. The action was in anticipation of political threats, and the associated insecurity caused by them.

Increased requirements of gold

In fact, a significant reason for the increasing price of the precious metal is the worldwide enhanced demand for this metal. Since the present production of gold is unable to match the requirements, its price is bound to go up. Due to the increasing demands, the existing price of the metal is almost fifty percent higher than what it was just a couple of years ago. It is also suggested by experts that the high demand for crude oil, resulting to its high price, is also adding to the price of gold. The increased revenue of countries producing oil is further adding to the ongoing phenomenon.

Options available for investing in gold are many

Many prefer buying gold coins as a form of investment, though many have a hobby of collecting gold coins. Many investors consider the collection of coins, not only for their inherent worth, but also for the joy they bring due to their exquisiteness. However, in case you are considering an investment in gold by way of coins, you need to ensure their authenticity. Likewise, many people invest in golden jewelry, which has historically proved to be an excellent asset. However, in the case of jewelry, you can’t be very sure if its selling at a future date will fetch you more than what you spent initially. The reason is the fact that the price of jewelry largely depends on its gold content, which varies. Investing in this metal in its physical form is considered the best option. However, you’ll need to store it securely in a bank, or deposit it using some company specializing in its storage.

Advantages of Using a Financial Planner

Saving Time

Even if you feel confident about your ability to handle these tasks, managing these issues can take time and effort. You can streamline your own schedule and avoid spending time on this work by hiring a financial planner to do it for you. This can be especially helpful for people experiencing a high volume of work professionally or for people with time-consuming family responsibilities.

Peace of Mind

Knowing that you have a professional working for you to manage these important details can be comforting for many people. The expertise applied to your finances can ensure that you plan and strategize correctly to work toward your goals. Without this expertise, you might make costly mistakes. With the assistance, you could even achieve your goals more quickly. You can also enjoy the confidence that comes with knowing that the professional will be continually monitoring and reviewing your situation. If any modifications are necessary, you can contact them quickly to correct the situation.

Expert Analysis

It is easy to be overloaded with information in today’s Internet age. Anyone without expertise in this specific area may have difficulty assessing this data accurately. A financial planner can provide expert analysis and planning for assets and liabilities, as well as insurance, taxes, and investments. Consumers usually have different priorities during early adulthood than they have in later ages, so planning and strategy vary. Having a professional opinion about investments as they pertain to short-and long-term goals and individual ability to withstand risks can also be invaluable to consumers.

A Cool Head

People may panic or become excited in certain circumstances. Fluctuations in the financial market may lead you to want to jump into investments with both feet or pull everything out to protect yourself against major losses. In either situation, a professional will lend solid expertise to help you make the correct decision. Perhaps it would be best to wait it out. Or, moving quickly might be the best course of action. The calm expertise of a professional who is not emotionally involved with the issues will deliver the best outcome.

Managing Money Through Debt Negotiation

Debt Negotiation

Many creditors and lenders are willing to work with their debt holders individually in order to get debt paid off, even if it means giving the debtor a break and not requiring the full sum. Good faith can take a debtor long way when it comes to dealing with debt collectors. Many debt collectors are not accustomed to getting paid in full. And, because they routinely deal with people who have poor money management skills, if a debtor shows good faith and comes up with a plan through reasonable debt negotiation skills, the creditor will often be willing to work with the debtor.

Debt negotiation happens on all debt playing fields. Whether the debt involves the IRS or a neighborhood community bank, most lenders and debt collectors are going to be happy to take something when they are used to getting nothing. Using good debt negotiation skills to determine how much you are going to pay as well as agreeing on a fixed timeline for repayment can take a debtor a long way. This money management skill is essential for a debtor to start practicing immediately.

How Can I Learn More?

There are many books, classes, and services willing to help debtors develop debt negotiation skills that they can use to get out of debt faster than they would have thought possible. Check the money management section of your library, or do a search online to find a reputable class near you!

Debt negotiation is an excellent money management skill to learn sooner rather than later. Not only will you find it helpful in handling your debt, but the skills you learn in this area of money management are transferable to other areas of life that require a little bargaining and deal-making!

Cost of Active Fund Investing

Before getting into which of the products are suitable for you, there are some aspects that need to be considered so that you understand what the variations are among the products.

Active investing is when someone (a portfolio manager) picks the stocks that are in the fund and decides how much of each one to hold (the weighting). This portfolio manager would also monitor the portfolio and decide when a security should be sold off, added to or have its weighting decreased. Since there is ongoing research, meetings and analysis that must be done to build and monitor this portfolio, this fund manager would have research analysts and administrative personnel to help run the fund.

Passive investing has the same setup as active investing, but rather than someone deciding what securities to buy or how much of each one to buy, the portfolio manager would copy a benchmark. A benchmark is a collection of securities which the fund is compared against to see how well it is doing. Since everything in investing is about how much money you can make and how much risk it takes to make that money, every fund out there is trying to compare to all of the other funds of the same type to see who can make the most money. The basis for the comparisons is the benchmark, which can also become comparing between peers or funds managed the same way. Comparisons are general in done only for returns. The risk aspect of the equation is handled by looking at what type of securities the fund holds or how specialized the fund is.

The short answer is that you have to get to know how the fund manager operates the fund. Some clues to know more quickly if the fund is active or passive are given next. If they are intentionally trying to pick securities according to some beliefs that they have about the market, this is active management. If the fund description talks about “beating the benchmark” or “manager skill” then it is actively managed. Looking at the return history, if the returns vary versus the index by different amounts each year, then the fund is actively managed. Lastly, the fees may be expensive and have sales loads.

If the name of the fund says “Index” or “Index fund” there is a good chance that the fund is passively managed. If the name of the fund says “ETF” or “Exchange Traded Fund” this could be a passive fund, but you need to make sure of this because some ETFs are actually active funds, but they are managed in a certain way. Most of the passively managed ETFs are provided by BMO, iShares, Claymore, Vanguard and Horizons in Canada and Powershares, Vanguard and SPDR (or Standard and Poors) and others if the holdings are from the U.S. Most of the other companies would have actively managed funds only. If the fund description states that the fund is trying to “imitate” the performance of an index or benchmark, then this implies that it is copying the index and this is passively managed. From the return perspective, passively managed funds will be very close to the index that they claim to imitate, but slightly less due to fees each year. The amount that the returns are under the index will be close to identical each year unless there are currency conversions or variances in cost which may come from currency fluctuations or hedging that the fund may do. Passive funds typically do not have sales loads as they are geared toward people who invest for themselves.

Start a Savings Plan

Once upon a time, people saved for things before they were able to buy them. However, we have gradually drifted from being savers to spenders and being in debt, due to the easy availability of credit. For many people, their expenditure is more than their earnings, which means they are using credit to purchase things. Put another way, they are using tomorrow’s income to fund today’s consumption.

But another and better way is to live within your means and save for the things you want, particularly consumable items. While interest rates are low it may seem like a good idea to buy what you want now and pay for it later. Unfortunately, with the possible exception of housing, most items purchased are what’s known as depreciating items or assets, where the value of the good decreases over time. If this item has been purchased on credit, it is most likely that by the time the item has been paid off, the value of the good is far less than when it was purchased.

In addition, there has usually been interest charges applied to the loan, which means the actual cost of the item ends up being far more than the initial purchase price. Wouldn’t it be better to save the cash for the item, save on the interest expense and be in a better negotiating position to obtain a discount because you’ll be paying in cash?

The easiest way to start saving is to have this happen automatically without much or any effort required. This can be done by establishing a special savings account, preferably one that you can’t access easily or penalizes you, for example with lower interest rates, for withdrawals.

Then set up an automatic transfer to move a set amount from your regular account into this new savings account. Or you might be able to speak with your payroll department about having your salary paid into two accounts, your regular and your savings account.

How much should you put into your savings account? It’s completely up to you! A good rule of thumb is 10% of your income, but you can change this figure to suit you. Ten percent might be a bit much to begin with, especially if you do have outstanding debt. Start with whatever you can comfortably afford to begin with. This percentage can always be increased over time.

Be aware of all facets of your income which can include overtime, commissions, bonuses, tax returns, cash gifts, sales of assets and myriad other things. If your automatic transfer only transfers a set amount of your fixed base salary every pay cycle, you might need to manually transfer your percentage amount to your savings account on any additional income.

Use the miracle of compound interest. It is said that Albert Einstein referred to it as the eighth wonder of the world. This is when you start earning interest on your previously earned interest, although its most dramatic effect is after a longer period of saving.

Eventually you might think about setting up a number of savings accounts such as a consumable items savings account (there’s that TV, car and holiday we were talking about) and what you might want to call your “wealth account”. This is your investing account and from where you purchase income producing assets.

How much you earn has no bearing on your ability to save. It’s not about how much you earn, it’s what you do with what you earn that’s important. The point is, it doesn’t matter how much you save or when you start saving, what matters is that you start.

Selling Gold For Cash

This is the big question! There are a few choices available to those that want to sell their gold. For those that own scrap gold, the refineries or pawn shops are the first two choices. On the other hand, if you have old jewelry made of gold, you can also try at jewelry stores, collectors, refineries etc. First decide what you are going to sell and afterwards decide which buyer might pay more.

This is one of the options. There are a lot of sites (eBay for example) that can allow you to show your metals to the world. Of course, this is not the most common place when it comes to selling worthy metals, but it works, because there are a lot of interested people.

This is the greatest thing about displaying your stuff online. Some might not pay the price you want, but this does not mean that you have no chances in getting the price you had in mind. A good tip is to do some research and discover the price that people are willing to pay. Either way, be prepared to get a different offer from what you had in mind.

It is important to know that the majority of buyers might not offer you the price of your dreams. So try to have realistic expectations on the price that you will have to receive for your gold. Prices that vary between five and ten percent less than what gold is really worth are quite common. This happens because the person buying needs the chance to get a profit when they are reselling your gold.

For instance, think about a scrap jewelry where you want to sell for the price of $100, because this is how much the market says it is worth. The person buying this will not be able to offer you this price because they will not manage to sell the piece for a profitable deal. Buyers seldom pay more than the price offered by the market.

The place of the transaction is not the only one that is important in this situation. You also have to be careful on the manner of payment. Cash or certified checks are the only methods which you should accept. This way you will avoid getting scammed. The most usual scam is the one with the credit card. Buyers who purchase with their credit cards can easily reverse all the charges and get all their money back. Losing your gold and your money does not sound like a good deal to anyone.

Tips for Paying Down Debt

  • Try to pay more than the minimum monthly amount required by your card issuer. Keep in mind that paying just the minimum amount required by your card issuer can cause your interest charges to balloon out. So, if you are serious about your desire to pay down what you owe, in the soonest possible time, then try to consider how you can allocate more funds to pay off your monthly credit card bills.
  • Come up with strategies that you can use to gradually pay down your credit accounts. To do this, you may decide to concentrate first on paying the debt that imposes the highest rate of interest. After all, this strategy is proven to help consumers save a great deal of money on interest charges. You may also decide to settle either the oldest or lowest credit transactions, whichever you find easier to pay off first.
  • Alter your spending habits. It would be counterproductive for you to continuously use your credit card to finance your purchases as well as your monthly bills, especially when you have started working on your plan to get rid of your credit card debt. This means that you have to limit the use of your card account until you are able to fully retire your credit obligations. So, you may need to change your spending habits and activities, for the time being. For example, you should resolve to use cash to pay for all your transactions. And you may need to lay low on the use of the extra facilities of your card account, such as cash advance.
  • Seek for professional assistance. You may also decide to seek professional help, especially if you do not have any prior experience in paying off huge credit card debt. Look for blogs and articles written by finance experts on how you can get rid of your debt, fast. You may also decide to sign up for credit counseling services. After all, a certified financial adviser can provide you with helpful tips that you can use not only to completely retire your financial obligations, but also to fully-rehabilitate your credit history.