About Budget-Friendly Loans

There are many areas of your finances that you can apply this to: clothes shopping, food shopping and even service shopping. One of the most expensive things that a person or family will ever spend their money on is their loans. To those on a budget the mere word “loan” makes them cringe. But there are ways to make it not so painful a feeling when you hear that word loan.

First, shop around. Remember, you are the customer even though it’s a loan that you’re shopping for. You don’t have to stop at the closet bank next to where you live and bam! sign those loan papers. You are a more enlightened consumer than that. Shop around all the banks in your area to try and find the best loans at the best rates. Pay particular attention to the amount your payment will be a month though. It’s all well and good to get a loan at a really low interest rate; but, if the payment a month is higher than you can afford, then that is a recipe for disaster.

Being budget-friendly isn’t just a cute coined phrase. It’s something that can become the

Debt Reduction Plan

Many people imagine that they could solve their financial problems if they only made more money. They wish for a raise or a better job and believe that would help them overcome issues they are facing. The truth is that they would likely end up with more issues if they had more money. The behavior of the spender needs to change rather than the income stream that they generate. Making more money is good if you use that cash to pay off existing credit, but it does not help if you continue to charge and spend beyond your means.

The first step in reduction plan is to track all of your consumer debt. This includes all credit cards, student loans and any vehicle loans. You do not need to include a home mortgage at this phase. After you have accounted for the source of your different debts, arrange them from smallest to largest. The trick is to begin paying off the smallest ones first while continuing to make the minimum payments on your other debts. You must attack the smallest debt as aggressively as possible. After that debt has been paid off, you can take the money

Ways to Save Money Every Day

Avoid Buy One Get One Free Offers

These are a waste of money for two reasons.

First they encourage you to buy more of an item than you really need.

Second they are often not true offers because the shops will increase the price of the item and you get a false discount.

Only buy what you need.

Buy Own Brand Goods

If you buy something with a brand name, you are wasting money on the maker’s advertising. It doesn’t matter whether it is clothes, cars or food, companies spend millions trying to persuade you to buy their goods and you foot the bill.

You can save a small fortune over the course of a year by switching to own brand products which are often even made in the same factories as the big brand goods.

Why Buy New?

There are certain things that we buy that we can find used and save a ton of money on.

Cars are the obvious one, why pay sales tax on a brand new car when you can buy used and put the savings to work for you.

Clothes are

Intelligently Eliminate Your Debts

You must intelligently employ a strategy to repay your debt. Pay at least 20% or more of your total income toward your existing debts. When paying off multiple debts, always pay more money to the debt with the highest interest rate first because the higher the interest rate, the greater amount of money you pay to that debt over time. Repaying debts with higher interest rates faster than those with lower interest rates saves you money and allows you to repay all of your debts in less time.

Example: You make $3,000 per month from your primary job and have a car loan and a credit card bill that must be paid off. You have $600 per month, or 20% of your income, that can go toward this goal. Your car loan has a balance of $4,000 at 6% interest per year with a monthly payment of $290. Your credit card has a balance of $7,500 at 21% interest per year and a minimum monthly payment of $206.

After paying the combined minimum payments of $496 for both the car and credit card, you have $104 remaining in your budget of $600. The extra $104 should be

Toward Financial Freedom

  • Only I can’t grasp how to manage money. If possible I would announce through a megaphone that several individuals didn’t receive the money memorandum. YOU ARE NOT ALONE! Current statistics report that relatively seventy percent of people live paycheck to paycheck. With this percentage, it is reasonable to assume these individuals do not have savings. They also have a considerable amount of indebtedness. Another report I read from Learn Vest, stated seventy-six percent of people feel that their personal finances are out of hand. Basically, three quarters of people feel their personal finances are uncontrollable and that they do not know how to make their money work for them. If you are in this group, reading this should decrease your isolated feelings. Actually, the majority of people right now don’t understand money.
  • I feel confused, guilty and humiliated because I don’t know about money. This is indeed a subdivision of number one and it causes people to feel that they are some how lacking because they don’t know how to manage money well. My perspective is how can you know how to manage money if you were not taught? Correct money management skills are not part of

Savings Accounts vs Investing Accounts

Investment Accounts

There are numerous types of investment accounts. There are a plethora of services offered with both discount brokers and full service brokers. Most people go to full service brokers because they like face to face transactions and customer service while others prefer internet based discount brokers because they don’t value face to face interactions. Since Millennials are tech savvy and don’t have money to be throwing away for steep fees, most young investors go the discount route.

I own an account with a discount broker because I like to micro manage my investments and I firmly believe Millennials should go in this direction as well. Most accounts are free to open, and I highly recommend using TD Ameritrade because of their vast array of pointers and customer service that goes above and beyond most other companies.

Savings Accounts

Savings accounts do have great benefits. Savings should be allocations of cash put aside for short term goals. Savings should also be used for personal expenses like loan payments, utility bills, and insurance. Savings accounts should also be used for anything in life that will require a large amount of cash in five years

Become a Corporate Authorised Representative

Organisations or companies holding a license (AFSL) are able to legally provide the full range of financial services, including providing advice on investments and financial products such as savings plans, pensions, RSA products and insurance or selling products directly to clients. They are also permitted to act as investment managers and can look after a portfolio of investments for clients and engage in dealing activities. They can invest and sell stocks, shares and commodities on behalf of their clients, alter financial products or underwrite securities and interests. Many also deal in foreign exchange contracts, securities and off-market Over-the-Counter (OTC) derivatives.

Since it is possible to sub-authorise individuals, some of these companies offer a programme under which they agree to train and appoint a corporate authorised representative under the terms of their license, allowing individuals to become accredited by the Australian Securities & Investments Commission (RG146) and start to offer some or all of the financial services provided by the licensee.

There are a number of benefits to talking this route to becoming accredited and fulfilling ASIC obligations. If you sign a contract to act as a corporate authorised representative and provide financial services under its license,

Eliminate Debt Forever

Most debts can be divided into good or bad debt, depending on whether it is tax deductible or not. You might decide to start with your bad debts before tackling the good debts, however you will eventually want to pay off all your debts, good as well as bad. True wealth comes from your net worth and the assets you own that bring you an income. Financial independence comes from making enough money from your assets to exceed your expenses. Remember, DEBT IS NOT WEALTH. Debt is debt and will eventually have to be repaid.

Firstly, work out what extra money you can put aside to add to your debt repayments. Any extra amount you can add to your repayments will help reduce the debts so much quicker.

Next, compile a list of all your debts. Include your mortgage, car loans, credit cards, store cards, loans from friends and family, school fees, anything that you owe basically.

Write them on a piece of paper down the page or put them into a spread sheet.

  1. Write down what it is, eg. home loan, credit card, car loan store card etc.;
  2. List the remaining balance owed (what

Debt Of A Nation

In two distinct periods in our history has a sitting President tried to empower the public while reigning in the Nations debt. One during a time of the greatest internal struggle for national preservation namely the Civil War and another were we were headed into one of the greatest challenges that perplexed a nation primarily the Vietnam conflict. In 1861 President Lincoln needed money to continue to fund the Civil War. Bankers at the time were charging over 28% interest. Rather than pay up that high interest Lincoln pressed congress to authorize the Treasury Department to print full legal tender treasury notes [this is what the Constitution originally implied with no interest attached] to pay for the costs incurred form the war. When congress passed this legislation Lincoln stated ” We gave the people of this republic the greatest blessing they ever had. Their own paper money to pay their won debts.” Thus Greenbacks became the name this currency was called. To Lincoln’s credit the passage of the Merrill Tariff Revenue Act in 1861 along with establishment of the first ever income tax, a flat 3% on incomes above $800 [today equates to $19,000] all increased financial revenue

Info of Debt Counseling

The law states that clients who are no longer able to meet their debt obligations should choose debt counselling before any legal actions are filed against them. Also, see to it that you learn about the benefits and drawbacks of this service.

Once you choose debt counselling, your creditors will be notified by your debt counselor. This is an advantage on your part since you will be able to show your creditors that you are sincere about changing as well as serious about your predicament. Also, your debt counselor will help you organize your finances by merging all your existing loans into a single file. This will allow you to make only a single repayment per month. Your creditors, in turn, will send your payment to your creditors.

Your repayments are going to be restructured for any outstanding debts; but your debt counselor will still set aside a fair amount for your food, transport, and other necessities. Until you are under debt review, you will not be subjected to legal charges for non-repayment of debt. In addition, there is a good chance that your credit ratings will improve once you choose debt counselling.

This service