- Know your financial needs, priorities, goals, etc: What do you wish to achieve in your life, from a financial perspective? Is there a realistic way, to do so, by using personal discipline, and a focused approach/ plan? Will you begin financial planning, for your present, and future needs? What will you do, to plan, for your children’s educational costs? How about your retirement? Many give up, because they feel, they do not have the ability to achieve these objectives, but, most people do, if they plan, far enough ahead, and discipline themselves, consistently. After all, you pay many bills, every month, including your mortgage/ rent, utilities, and other current needs, so wouldn’t it make sense, to proceed, with the discipline and attitude, to pay yourself, first?
- Periodic payments/ installments; dollar – cost averaging: For the average person, the best way, to attain and maintain, a significant, diversified portfolio, is to use, what is referred to, as, a periodic payment plan. This means, every month, preferably on a specific date (same time each month), putting the same amount into a mutual fund. This should be, a diversified, balanced fund, in order to perform, in a variety of market
Search engines judge a website based mostly on its content, and the content of those linking in. Audiences are built on the strength of that content, and expect to get regular updates with more fresh and useful articles, blog posts or newsletters. This has made many businesses unable or unwilling to cope, and as such they need others to write high quality content in plain English for them.
You can approach those businesses directly, but if you are starting up your best option is using third party websites that act as a middleman, guarantee payment and protect both buyers and sellers from unscrupulous scammers. If you are looking to write in English sites such as oDesk or Elance offer projects, Fiverr allows you to place an article writing gig paying you $4 and Textbroker has a steady stream of requests directly from website owners at varying prices depending on your writing skills.
If you want to get rid of your debt, you’ll need to come up with a plan. Decide how many articles you can write during your week. Maybe you can wake up one hour early every day, and fit two articles on that time
Mistakes People Make
When you’re burdened with multiple debts, it’s easy to lose track and end up not paying on time, thereby attracting late payment fees and perhaps even eventual debt recovery process. You might not only miss out on interest free periods, but also end up paying hundreds of dollars a month for late fees.
Another mistake people make is that they make only the minimum payment to cover the interest amount without thinking about ways to clear off the principal.
People try to avoid banks, especially if they are sure they won’t be able to meet a repayment schedule – that’s unfortunate because communicating with the bank might actually help you to defer payments or save you from late fee charges.
When people opt for consolidation, they may forget to close their high risk personal loans which would still attract charges even if they’ve moved it to a low interest consolidated loan.
Efficient Debt Management Solutions
One of the best ways to achieve efficient debt management is to seek the advice of
building your career
There are jobs which pay very well (i. e. manager positions), with which it is not difficult to build a fortune. With conscientious career building, very much dedication and with some luck it can be achieved.
The question is how great is the sacrifice we have to bring, and whether the high salary compensates it.
becoming a criminal
There are many immoral or criminal ways of making money. I don’t want to give tips to anybody, the media give us information about such cases in many ways all the time.
I wouldn’t urge anybody to choose this way. In this case, we risk not only money but stricter penalties, too (i.e.prison).
Many people get their wealth by being good at something, eg.: sportsmen, musicians, writers, artists. Others invent something new, it is enough to think of the internet millionaires being born by the dozens these days.
Most of those who have such a career behind them, say that the way leading to success is not a smooth one but loaded with hindrances, and it is not as simple as it looks like.
Certificate of deposit accounts are special accounts offered by banks & brokers, they’re basically the reverse of a regular loan: the investor loans their money to the bank for a specific period of time during which the bank pays you interest for the use of the funds.Traditionally interest is generally paid periodically based on a percentage, or other predetermined factor (such as the stock market), for the life of the CD.
Many institutions offer fixed interest rates but variable interest rates are also available. This type of account differs from bank savings accounts in that depositors can not withdraw the money at any time; they have to wait for the them to mature or pay a severe penalty.
Certificate of Deposits are perceived as safe because they are insured via the FDIC. The FDIC is federal insurance coverage provided by the government, instituted during the Great Depression, it was meant to provide consumers reassurance & protect against bank runs.However, there is a cap on the volume of funds insured by the FDIC per account.
Since the FDIC is backed by the United States Treasury, many people look at CDs as the ultimate “risk-free” investment. As such, rates
- Read your monthly bank statements. Know every purchase and credit to your accounts. Scammers can steal your information and set up charges you might mistake. Check for hidden “membership” fees or any other unapproved charges.
- Give to recognized charities. When a disaster occurs, your instinct is to give to those who lost their homes, clothes, etc. Do your research and give to a recognizable charity or a credibly ranked one. You can find more donating tips by using a website like Charity Navigator.
- Investing is taking a chance. There is no sure profit when investing. An investment opportunity with a low-risk, high-return investment can strike red flags! Take time to learn about the product and company beforehand. Also, prepare for a sales pitch. Watch for words like ‘guarantees’ and ‘promises’ with little ‘financial risks’.
- Don’t deposit a check from, or wire money to, an unknown recipient. The law requires banks to have deposited checks available within days. However, to recover a fake check can take weeks. Someone who overpays using a check is likely connected with fraud.
- Use strong passwords. Passwords should have eight or more characters. Use a combination of letters, symbols, and numbers that have
- Clean up and clean out our house this fall and have a yard//garage sale. This is going to be a LOT of work, but in the end, we will have extra space AND some extra cash to put toward bills or savings.
- Pay bills second, pay ourselves first. This means taking the 30 seconds to log in to the bank account and throw in some extra cash into the savings account. This is like, rule #1 of saving. Rule #2 is “Don’t touch your savings unless it’s an emergency, and even then, reconsider it!” Haha. Okay maybe not, but clearly for us financial discipline is lacking.
- Create a daily spending limit and stick to it. That’s right. Daily. Because sometimes, those of us who aren’t so good with budgeting, need serious boundaries. This way, we can really look at “What am I spending my money on? Is this a necessity, a treat, or should I//do I need to save my daily allowance for something in a few days?”
- Commit to paying down debt. There are a few ways to do this effectively, but, as I’ve been reading, the simplest is to take it in small chunks and pay off
First, you need to find your gross monthly income. This is listed on your pay stub or leave and earnings statement. If you don’t receive a pay stub, you can use the W-2 form that you receive at the end of the year from your employer.
Second, you need to know the total minimum monthly payments you make each month towards debts. The easiest way is to review your monthly bill statements to find the minimum amount due each month. Another way is to find payments listed on your credit bureau report (CBR). If you don’t have a copy of your CBR, then you can obtain a free copy of your credit report once a year from an online source, or contact your financial institution for more information. On the CBR from TransUnion, the monthly payment will be listed under TRADES>TERMS. Depending on the company (TRADES) they can report your debt as “Min97” which means Min payment is $97, or “24M204” which is 24 monthly payments (TERMS) at $204 a month. The minimum and monthly payment, and monthly term, will be different for each person depending on what is owed. You can also contact each company that
A Leap in the Right Direction
People are making finances, and paying off debts, a priority again and that’s a great shift. Writing off uncollectible debts is also on the rise, and that’s contributing to these lower numbers. When considering the 25 areas surveyed, only four reported a debt increase, and none were in Arizona. Phoenix folks have something to be proud of, and this is a great trend that will hopefully continue to grow.
Overall, Phoenix residents aren’t leaping on opportunities to take on more debt. They’re doing better at managing their credit cards, they’re not financing vehicles they don’t need and the mortgages that are getting approved are manageable for most. Basically, people in Phoenix are treating their credit seriously, just like they should. Gone are the free-for-all years when McMansions were standard and everyone drove a luxury car.
Avoiding a Fallback
Even though Phoenix residents are spending more carefully, there’s always the risk of slipping back into bad habits. Just one faux pas or an emergency can reverse these efforts. For example, a medical emergency or layoff can quickly undo a year or more worth of work. It’s crucial to pay off
Don’t ignore your statements.
This seems so obvious – to the point of not even worth mentioning. But it’s amazing how many of us fail to look at our statements every month, or to look at them thoroughly. Besides balancing your account – in other words, reconciling your posted balance against outstanding drafts or checks that have not been presented for payment – you need to examine your account thoroughly every month to make sure there isn’t something there that is out of place. Did the restaurant you went to a couple of months ago record a five dollar tip or a $25 tip? Did the shoe store who took your catalog purchase back really process the credit to your account like they were supposed to? Are there fees or debits that you can’t seem to account for? These are just some of the issues you’ll want to bear in mind as you’re studying your statement.
View your bank as a partner, not just a provider.
Even if you have the most basic of checking account products, your bank should demonstrate an interest in helping you manage it successfully. (And if they don’t, shop around