by Guest on July 16, 2010
It is the age old question, do you lease or buy? It is a thought that comes across most of our minds when we are looking for homes or cars. Big questions emerge such as; will I pay more to lease it? Wouldn’t I want to own it outright if I am making a monthly payment on the car? What exactly are the perks when leasing a car? Those and many more questions should be addressed before you sign your name on the dotted line.
Alright, let’s be honest. Who really enjoys stepping onto a car lot and getting bombarded by pushy, aggressive sales people? Even if you mentally prepare yourself for the challenge ahead, you can never fully understand all the curve balls that come your way. Sure, you start with the fun part – the test drive! You feel the leather under your hands, enjoy the new car smell, and play with all the gadgets on the dash board, but you know what is to come. The minute you step out of the car here it comes. PAPERWORK! Be prepared because they are going to want to know just about everything. You’ll also have to contend with those three little numbers that mean so much to our society… the credit score.
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by Guest on June 25, 2010
There is nothing quite like tough economic times to bring frugality into brilliant focus. Survival issues drive every decision. Priorities suddenly assume an importance beyond what was ever thought possible. Health issues give way to paying the rent or putting food on the table. The price of gasoline reduces driving a car to when it is only absolutely necessary. Clothes and furniture are now luxury items that must be put off. And then you are reminded of saving for retirement. Surely, that can be put off, too?
Unfortunately, time is not on your side when you put off saving for your future well being. The price for living an older life with dignity keeps increasing, right along with everything else, and probably more so due to the hyperinflation in the medical industry. Social Security may only supply 40% of your desired retirement income. You will need additional savings, and the best time to start is always now, even if economic times are tough.
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by Guest on June 15, 2010
It is truly amazing how many people entrust their entire life savings to stockbrokers who know absolutely nothing or very little about investing. In their defense, many stockbrokers may be honest individuals who truly want to help their clients. However, the problem is that they were never trained to be investors but instead were trained to be salespeople, and they are constantly being pushed by their employers to sell. After being recruited by a brokerage company, they are subjected to intensive sales training where they are taught how to cold-call, prospect for clients, and counter various clients’ objections. The actual education on how to select and analyze particular investments is limited.
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Recovering from a snowball of debt can seem nearly impossible, especially for those with only one income or even a part time income. Although there are many options – debt consolidation, financial advising, an experienced debt assistant, etc.; however it is always wise to consider all options.
1) Obtain a Second Income
One of the easiest ways to destroy debt fast is to acquire a second job, either full time or part time. Since you are already living on one income, the entire second income can be put towards your debt. Almost every debt assistant and financial advisor will suggest that you pay off the debts that charge the highest interest first, in an effort to save you from paying solely interest.
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Credit is your reputation as a borrower. Before offering you a loan, lenders use your credit score to determine the amount of loan you can be offered, the term of the loan and also the rate of interest. You can raise the score by cleaning your credit report.
What is a credit report?
A credit report is a record of your borrowing and repaying activities including information on late payments, tax liens and bankruptcy. It also includes your identifying information and bank account details, and reflects your ability to repay a loan. A credit score is a computer generated number based on statistical analysis of your report. The score is relative and is accessed by your lenders to determine the risk they take by lending you money.
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Cars are among the most expensive purchases we’ll make. It’s therefore understandable that consumers want to make the right choice in deciding how to pay for a new car, whether to buy or lease.
When deciding on the best option for your unique circumstances, it really depends on your lifestyle and priorities. Car buying is just one consideration that needs to fit in a much larger picture. In reality, the perfect option for one person can be totally wrong for another.
First off, let’s consider how a lease differs from financing. When you lease a vehicle, in effect you are paying for your “use” of the car. You don’t own it. Rather, you get exclusive rights to use the car, for a predetermined period of time. Basically, you are paying for the equivalent amount of the car that you “use up”. Leasing has a number of cumbersome restrictions, not the least of which is that it is very difficult to get out of or transfer a lease. Generally, once you’re in a lease, you’re in it for the entire term.
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If you think your bank is costing you too much money, then now is the time to look at ways your bank can help you save money rather than spend it. Although there will always be bank charges and fees, there are ways to save money using banks and make the most of their services. Here are some tips about how to cut down on bank costs and save yourself money.
Savings
One way to save yourself money through your bank is to open a savings account. If you have a fair amount of money in your current account, then transferring it to a savings account with a high interest rate is a good idea. Having a savings account does more than just save you money; it earns you money. The interest generated from a savings account means that you are making money from the money that you store. However, you should remember that many banks charge a fee if you go below a minimum amount in the account, so keep track of this in order to save yourself money.
ATM charges
Another way that you can save money when banking is to use free ATM machines. Some ATM’s charge you a fee to take money out, either for the convenience of because the ATM does not belong to your bank. If at all possible you should stick to ATM’s that don’t charge you money. If you do this regularly then you could save yourself ?100 a year or more.
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