Mortgage Upside Down? Hope for Homeowners can Help!

Upside down has become a new buzz word for many Americans that hold mortgages.  If you are upside down on your home you can find relief with the hope for homeowners program. The principal balance of your current mortgage can be reduced using the hope to homeowners program. Monthly mortgage payments will be lower.

You can obtain a much better mortgage that will be based on the value of your home today.  Any additional balance left on your mortgage will go away.  Your new mortgage will be based on 90% of the current value of your home.

The end result will be much lower payments on your mortgage each month.  Mortgage payments may be reduced by as much as half of what you are currently paying. Houses will be saved for many homeowners.

Your new mortgage will be an FHA mortgage.  This means it is insured by the Federal Housing Administration.

Hope for homeowners will provide some much needed help for many Americans that own homes.  If you need help with an upside down loan, take the time to research this program.

You will need to provide income documentation in order to qualify for this loan.  Most of the standard mortgage guidelines will apply.  The big advantage is that you can drastically reduce your mortgage balance and your payment.

The government passed the hope for homeowners program on 07/30/08.  You must be living in your home to qualify for this program.  The program will expire on September 30, 2011.

This program does have guidelines.  The loan amount has also been capped by the FHA.

This is a great program for home owners that have been having trouble with their mortgage. The situation that you are in can be improved dramatically.

There is an equity sharing element to the hope to homeowners program.  Your old mortgage company will share in the equity of your home moving forward.  When you sell your home some of the proceeds will be given back to the original lender. It will depend on how much time has gone by since you started the program.  The FHA will also share in your home's equity moving forward.

Find out more on hope for homeowners.

 

Easy Ways to Save Money

Saving Money

The economic downturn is unfortunately and unavoidably affecting us all. Wouldn't it be great if we could lessen our regular outgoings? Well we  can.

If you think about it there are lots of ways to save money in these cash strapped times. Here are just a few suggestions:

Shop around for a new home loan. If you have a mortgage and you are not tied in to your finance company you may find that shopping around can get you a better deal. There are some fantastically low interest rates around at the moment so it makes sense to take advantage and ensure you have the best deal available.

Minimise credit card bills. One way to lower your monthly outgoings is to pay off those credit card bills. If you can't scrape together the funds to pay your bill look at moving to a new credit card that is offering 0% interest for as long as possible then set yourself the goal of paying off your bill before the 0% period expires.

Reduce your utility bills. It is likely that you are paying more for your gas and electricity than is necessary. Like your mortgage, it is worth shopping around for the best deal. While it can take a little effort you will find that there are some very useful websites and the result will be lower monthly bills.

Reduce transport costs. For many of us running a car is a necessity. but everyone can all make some savings in this area. Rather than buy your next car why not consider car leasing. Personal car leasing is becoming increasingly popular as people wake up to the benefits and savings that can be made. Car pooling is another way to share the cost of your work transportation. At the very least you could save on fuel by offering to give a lift to someone who must do the same daily journey.

Buy your groceries from a cheaper supermarket. The very same basket of groceries can be priced quite differently at various supermarkets. Make sure you are not paying too much by getting all your regular groceries from the cheapest source in town.

Do it yourself. Where possible do as much as you can for yourself. For example, rather than visit the car wash why not do the car wash yourself. Rather than take your car to the garage for a service why not do it yourself. Rather than employ a window cleaner, get out your bucket and sponge and do it yourself.

Cut out expensive habits. If you smoke then do whatever you need to do in order to stop. This is a no-brainer. Smoking is bad for your health, bad for your pocket and it can make you smell like an old ashtray? If you enjoy a tipple then try cutting down. Maybe limit yourself to drinking only on special occasions.

Holiday at home. You may be able to consider alternatives to your annual expensive holiday abroad. Staying at home doesn't have to be dull or boring. Take a week off work and pack your week with visits to museums, art galleries and free exhibitions. Wrap up in some good outdoor clothing and get out into the countryside or down on the beach for some nice long walks. While you may not be getting a Caribbean tan you will be saving a fortune while having a great time.

I hope that these simple suggestions provide some food for thought. While they may seem a little penny-pinching making savings in this way could make all the difference between hanging onto your home and foreclosure or repossession.

Learn How to Improve Your Finances

With the stock market the way it is and the job market not doing so well, it's time to take stock of your finances and see where you can do better.  Many people are deep in credit card debt and it puts a burden each month on the monthly budget.  In this article, you will get some tips you can use to help you get better control of your finances.

How did you finance your last car?  Do you know how to finance a car the right way?  The right way to finance a car is to not finance a car at all and try to pay cash.  This will save you money each month that you can use to pay off debt and save on interest charges.  This is not avoidable for most people as they have to have a new car every few years.  If you have to finance a car, get the shortest loan term possible and shop around with credit unions to get the lowest interest rates. 

The next major financial issue is how to finance college.College costs a lot and is not going down.  Millions of parents and graduates are stuck with thousands of dollars in student loans when they graduate.It then becomes difficult for a graduate to afford to live on their own and that's why they live at home.  So how do you finance college better? Spend weeks and months looking for scholarships and grants.  We spend more time watching American Idol or the latest Lost season than we do trying to pay for college.  A lot of the work can be done online.  Spending more time getting it right now will pay huge dividends when you are not stuck with your son or daughter living at home after college stuck with student loan debt.

Lastly, you need to learn how to finance a home.  A home is the biggest financial decision you will have.  If you do it wrong, you can lose your home getting in a mortgage you cannot afford.  Do not buy a bigger home than you can afford.  This will only lead to a ton of problems if a financial emergency comes along and they usually do when you do not expect them.  And then the standard advice follows - shoot for a 15 year term or pay more than the minimum to pay off the loan fast.

There are tons of resources to help you manage your finances better.  It is not the most exciting subject in the world but if you take the small amount of time it takes you will enjoy less stress and a better financial picture overall.

Why Social Security Is Still Important

Social Security has been with us for sixty plus years - it's hard to believe. The first Social Security check went out in the mail in 1940 even though President Roosevelt had signed the Social Security Act into law, five years earlier. Since that time, quite a few American seniors have been thankful to receive that monthly financial safety net as they enter their retirement years.

Originally, in the first version of the bill, Social Security benefits were to be paid solely to the principal worker. But, prior to the bill going live, additional benefits for the spouse and child dependents were included..

Quite a few folks erroneously think that the Social Security system is equivalent to an investment annuity, in which you send money to the government. They will then invest it and give you the resulting income in monthly payments for the rest of your life. In fact, however, the system is closer to a government welfare program. The collection of payroll taxes , which finances the Social Security program, is managed under the authorization of the Federal Insurance Contributions Act, better known as FICA. FICA is like the enforcement arm of the system. It ensures that every worker "contributes" his or her fair share to the government pool.

Each new generation of workers is responsible for taking care of the previous generation's retirees. The amount of money you eventually get back from the government has only a tenuous relationship to the amount of money that was deducted from your check over the years. Since it's inception, the system has collected from contributors and paid out over nine trillion dollars to recipients.

But the 1940 law did not simply stop with providing benefits to retirees. It also contained the first incarnations of the welfare and unemployment systems which are still very much in evidence today.

Today, with millions of people losing their jobs every month, relaxing retirement travel is only a dream. With our financial systems going into the toilet, and the housing crisis exploding around us - these safety nets are becoming more important than ever. Many retired women, especially, are just barely able to make ends meet with the help of Social Security. This is because, although gradually changing, women today are less likely than men to have additional sources of income. Partly due to working less years in the workforce because of child raising responsibilities. And partly because, even while in the work force, women typically are paid less than men.

But even families that don't necessarily need Social Security to survive are helped by it. In fact, according to independent studies, if the government were suddenly to get rid of Social Security, many retired families would experience a drop in their living standards of 70% or more.

Many people fear that the system cannot sustain itself. In fact, there have been times in the past when the amount of money paid to recipients exceeded the amount of money collected via FICA. In these cases, Trust bonds were sold to make up the shortfall. Because of circumstances like these, Congress has occasionally upped the percentage of gross income that FICA can collect from salaries. Even these modifications, however, as the population ages and simultaneously live longer, may not be enough to sustain the system without drastic changes to the system.

The Social Security program is the mosts vast government program in the country - comprising over one fifth of the federal budget. As some politicians look at cutting the size and expenses of government, this program has an inviting target on its back. To many people, however, the cost of losing this critical system could ultimately be a great deal more than the cost of running budget deficits.

How To Navigate Your Way Out Of Debt

Transforming Debt Into Wealth Review

Successful debt management is based upon truth, reality, and keeping your priorities straight. You cannot dig yourself out of debt if you plan to win the lottery to do so, it takes a little more work than picking a few numbers. Now spending on too many lottery tickets without having the assurance of winning is not a very wise debt management plan.

Know your priorities when it comes to managing your debt. You need to learn how to determine which are needs and which are wants that you can do without. If you are still unaware of what they actually are, necessities include your home, clothing, transportation, food and things like that. After the total cost of these necessities is subtracted from your bring home pay, what's left is your disposable income.  Do yourself a favor and buy some get out of debt books to educate yourself about how to get out of debt fast.

What you spend on what you call "necessities" will determine your monthly budget for necessities but it could probably use a little trimming. When you cut the cost of any of the necessities, you will have more disposable income and when you add to the cost of the necessities, you will have less disposable income.

You have to make your own choices, of course, but here are just a few ideas that might help you get out of debt quickly :

1. Food: Eat at home rather than dine out.

2. Shelter: Maintain a home whose size is just right for you and your family.

3. Utilities: Know the basics, turn of the appliances that aren’t in use, don’t waste electricity. If it’s cold, cut down on using your air-con or fan and things like that.

4. Transportation: A five-year-old car will take you to the same places that a new car will take you.

5. Clothing: Go for discounted ensembles that are less expensive but stylish nonetheless.

Debt management and getting out of that debt is about getting the right mindset and right priorities. What you spend on your priorites can change because you can always go cheaper and be more frugal or you can go more expensive if you want to be extravagant.

How To Make Your Magazine Subscriptions Worth

What type of magazines and periodicals do we like to read? Are we just buying or subscribing to a magazine or periodicals without seriously thinking of how we can get the most out of them? Do we just grab the occasional magazine with something interesting on the cover?

Making Worth Our Subscription

Some subscribers think that it is common to read magazines and periodicals like reading daily newspapers. But there is much more to reading and benefiting from a magazine than we might realize. And there are also far more ways to read than we can imagine.

When we subscribe to a magazine we enjoy reading, seeing the magazine arrives in the mail is always an excitement. The magazine stands out among a pile of bills and junk mails as we get the excitement of looking forward to reading the magazine! This excitement carries on as we read letters to the editor on past issues as well as the teasers in the issue.

Paper Versus Digital

Paper magazine is still very the way people choose to read their magazines and periodicals. It makes them feel high to when touching and feeling the pages. Feeling the glossy paper is also something that fills readers with joy and makes reading affectionally pleasurable.

Though not all magazines and periodicals are online, more and more are heading to this landscape. Today's trend is to bring everything online more quickly than anyone thought possible. Magazines and periodicals are heading online so that you can read your favorite articles wherever you are.  .

Reading According To Preference

Some people like to read their magazines and periodicals the way they like to read their newspapers – from cover to cover. However, for most people, initial reading of a magazine is a bit of a race. We simply scan the pages swiftly and look for things that are important. Our reading move on past the page and onto the next. This initial reading gives us a good outline of the issue and helps us decide the specific articles we would read later in greater details. This can then be either in one sitting or throughout the course of a month until the next issue arrives.

Getting The Most Out Of Magazines And Periodicals

If you’ve never subscribed to a magazine, you’re missing something wonderful. There are many internet sites out there giving great information about magazines and periodicals and how they can influence your life. They also offer free eBooks explaining how magazines and periodicals can benefit our everyday lives.

These sources offer good advice on magazines and periodicals that are worth your time to read and keep for a long time. Some sites even provide comprehensive directory listings on magazines and periodicals with extensive explanation on the different categorization of magazines and periodicals. Spending some good efforts can definitely go a long way to help us to be better informed readers.

 

What Are Secured Loan Rates – What Determines Your Secured Loans Interest Rate?

Financial companies usually offer people two main types of loans namely unsecured and the secured loans. Secured loans mean that borrowers have to put collateral in order to get the loan. Unsecured loans on the other hand, don't need any collateral to be provided.

Because there are smaller risks associated with them, secured loans will usually have smaller interest rates. You can also get much bigger loans if they are of the secured variety.

In most cases the types of secured loans that can be taken by people are of the multipurpose type. You can use the money you borrow for any type of need you might have. While some people use the money to buy cars or houses, others use them to pay for holidays or weddings. In other cases, people use secured loans to help their business.

A lot of people use secured loans in the UK. To meet their needs, plenty of people take homeowner and personal loans. In most cases, people from UK use it to make home improvements, consolidate existing debts, paying for medical or education expenses and for buying different types of goods.

To understand the secured loan rate, you need to know a number of things. Even though you already get lower rates when taking secured loans, you should still try to find the cheapest rate available.

That's because the money you save by paying a lower secured loans rate can be put aside and used later or reinvested. The secured loan rate that someone can get will depend on a number of things.

The most important one is the credit history of that person. In countries like the US and the UK, credit history is very important when deciding on the interest loan rate of the borrower. If you want to obtain the best secured loan rate, then try to keep your credit history perfect.

Discover where to get the cheapest secured loan rate online. Learn how to get the best secured online loan.

Use A Budget To Eliminate Debt

Ever heard of the word Budget? Budget is something negative or something that is intended to restrict your spending and your life. Budget in fact is a very helpful tool that can keep you on track when it comes to your spending.

Planning to eliminate debt and living within your means will prevent a lot of worry and missed nights of sleep, both now and in the future. When you budget your income and expenses, you can still allow yourself some blow or fun money...not less.

Make sure that you base your budget on reality and not only far to reach dreams that are only ideal but cannot be achieved. A budget is supposed to help you and is not meant to give you false hopes.

The first items that should be listed in a budget are necessities. Food is a necessity, and so is shelter, utilities, transportation and clothing. You must be very realistic about the costs of the necessities, but once you have subtracted the necessities from your net income (that's the amount that is actually paid to you after payroll deductions have been made) you will have the result as your disposable income.  Make sure you allot a certain amount to help you eliminate debt.

Disposable income is income that you have the option of what to spend it on. If you obligate yourself to make a monthly payment, that payment amount will be subtracted from your disposable income and added to necessities because you will be required to make those payments each and every month.

Income is not the basis for debt management. Disposable income is the basis for debt management. On the Internet, you can find budget forms that will help you to work out a reality-based budget that you can live with. Once you have worked out just how much disposable income is left after the necessities of life have been covered, you will feel much more in control of your financial life. Once you gain control of your financial life, you will find that you have more control over the rest of it.

Why Cash Advances are a Great product....

Why cash loans is the right solution...

The human mind works in mysterious ways or does it really?

Maybe when it comes to supernatural things, hypnosis and stuff like that, but when it comes to money most people have very similar thoughts, wishes and reactions.

Most of us want a comfortable amount of money, allowing us to buy what we like and travel when we want without having to jump through too many hoops. Actually financial freedom is probably a number one on everybody’s wish lists.

So why is it that only a small percentage of us get to fulfil our dream?

Well, if I had the answer to that or rather the recipe to achieve financial freedom, I’d be very rich.  What I can tell you though, is that it’s easier to adjust your expectations then it is to adjust your income. 

When you start your career, most people get excited about the massive jump from being a poor student to being on a salary. But we soon realise that expenses such as car loans, rent, electricity bills and the rest of the things that come with an adult lifestyle takes up a big part of our salary. You find that after paying your bills, you’re lucky if you have the same amount of money for yourself that you had when you were studying.

Sometimes we even put extra pressure on our budget because of special occasions like Christmas, birthdays, anniversaries or just satisfying the urge to get away and experience something new.

The aftermath of overspending on these things sees many of us panicking, because the bills still keep coming and you still need to put food on the table. You act on instinct and look for the best solution around.

It just happens to be that there’s a product designed for exactly this kind of problem, so look no further.

Short term loans also know as online payday loans can help you with a fast money  solution. The reason why this financial product is so good for problems like these is that you can have the money just 60 minutes after you apply.  The loan only runs for a couple of weeks so you’re out of debt in no time and you don’t have to run around the house looking for payslips and other sorts of documentation because online cash lenders don’t need it to confirm your loan.

Basically cash loans can help you out when you’re under pressure and need to handle your problems quickly and that’s why it’s such a great product.

Online Payday Loan - Need a Payday Loan Immediately?

Online payday loan has brought the benefit of the Internet to the loan seekers. Do not spend all those long hours in front of the creditors' offices. Welcome to a new world where you can apply for a loan from your very home. Fill in some information and click the buttons and you have applied for a cash loan. Just to ensure that you make the most of this, carry out proper research to find a creditor that suits you the best.

Finding The Right Lender

If you need a payday loan immediately, avoid lenders that demand documents like your payslips and monthly financial records. For fast loan sanctions go for companies that don't require these information and one that has a simplified application process.

But always certify that by trying to get a quick loan sanction you do not end up with a bad loan approval. Go through the clauses that the lender has to offer before applying for a loan. Any slackness in this regard could mean that you could end up repenting later. Prevention is always better than cure. Take that additional precaution up front and enjoy the benefits later.

Rescue in tight financial situations

Nothing in this world is certain. Hence, in spite of taking all precautions one could end up with an accident; in spite of careful financial planning one could face financial strain and liquidity constraints. For such cases a payday loan applied online can be a major blessing. You can get access to liquid cash very quickly and that can save you the day. Many times with loans it can be the case of once bitten twice shy. By understand that the online loan service is quite unique and is nothing like the classical service where you may have burnt your fingers in the past. The online service is tailor-made to disburse loans as fast as possible, so you would not be strained in producing unnecessary paperwork to apply for the loan.

High processing costs

You need to understand that the lenders are offering you a loan immediately on application. They are taking a big chance with the money they give you as they do not perform a credit check or even secure the loan amount. Hence, the costs of online payday loans are usually higher than other loans. Besides, in most cases, you may not have an alternative, especially if the need is urgent.

Online payday loans have many benefits. You avoid the clutter and confusion of the creditors' office. Moreover you get the loans sanctioned with minimum of fuss. Hence, online payday loan is the most favorable means of getting quick cash, notwithstanding their higher costs.

Liabilities Assets Ratio Determines Financial Status

In order for any organization, including a family, to understand what their current financial status is, it is a good idea to generate financial statements in order to gain insights into the complete financial picture. One of the most important aspects of a financial statement is the rundown of current net assets, as well as all debts and liabilities so that the liabilities assets ratio can be determined. This ratio is a valuable indicator of whether the organization is moving toward amassing wealth or is mired in debt.

Debt Management

In addition to financial statements, a balance sheet is also an extremely valuable financial report, which can provide a very quick, bottom-line snap-shot of the financial stability of a company, individual or family. A balance sheet typically will include everything that is considered to be property, or current assets, which contribute to wealth building. These types of total assets include such things as stocks and bonds, equity in real estate holdings, cash on hand and other liquid assets, reliable cash flows, tools and equipment, and also intellectual property.

On the liabilities side of the balance sheet are found all forms of debts and obligations that are owed by the entity or person. In addition, when calculating the liabilities assets ratio, some people also include in the liabilities column other things such as taxes, professional fees, contractual obligations, and any other arrangement that involves current assets being transferred to another party.

Financial Help

A simple example of formulating the ratio between liabilities and assets can be seen in looking at an individual's particular situation. For someone who owns their own home, the picture of their current assets would include the fair market value of their home, deposits in all checking and savings accounts, the portfolio of all shares, stocks and bonds, investments in gold, silver, other coins, stamps, artwork, fine jewelry, and similar items of value that typically appreciate over time. In addition, total assets could also include retirement funds and expected pension rights, and any type of promissory note from which they are getting regular payments.

For individuals, other types of personal property can also be included in the listing of total assets. Some of these other assets would be assets such as vehicles, boats, recreational vehicles, equipment and implements, household furnishings, and also clothing. However, these are the type of things which depreciate in value over time, and as a result, some accounting professionals will exclude such items from a balance sheet in order to provide a more accurate view of true household wealth.

Having balance sheets and complete financial statements worked up for organizations and individuals is to have clarity regarding their financial state. With clarity as the goal, it is vitally important to be completely and totally honest about the debt load and it can be useful to even underestimate total assets so that the most realistic picture of the liabilities assets ratio can be obtained.

Get Out of Debt

Is Loan For Bill Consolidation An Attractive Alternative?

Many people in the US today are deep in debts that they are not in a position to repay. For such people, loan for bill consolidation is a highly attractive alternative.

The monetary mess these people find themselves in results from several factors. It could sheer ill-luck of abrupt job loss or just very limited savings that get exhausted very quickly.

However, irrespective of the cause, if you are in an economic crisis, a loan for debt consolidation can help you improve your condition. is It is an excellent option to de-link themselves from a host of loaners for persons in such a tight spot economically.

Advantages

1. Consolidates your debts and gives you better control over them
2. Correct your dropping credit scores.
3. Boost your credit ratings
4. Leaves you without any debt in a few years.

Some Caution

It is better to avoid getting the refinancing from a creditor that you have already transacted with. Scout for new services that have not engaged with you previously.

Many people to own several credit cards and bad debtors, typically, would have bad repayment record with all of them. For such people a bad credit card debt consolidation loan could advisable to club all the debt into a single lowered interest loan. Many people have opted for moving the unpaid loans from various credit cards to a new low interest one. However, you may find that the combined effect of loan consolidation may give you the advantage of lowered interest rates.

The credit card consolidation loan would typically combine all outstanding debts into a single loan. As a result, the debtor would need to make regular repayments to a single creditor or company. This concentration of loan repayment accrues significant financial savings for the debtor.

Why is a loan for bill consolidation preferable?

This loan would put together all your current debts and give you better reign over your finances. Your loan commitment shrinks to a single entity which is more favorable a bunch of stakeholders.

Identity Theft: Don't Let it Happen to You

Identity theft is a growing concern for many people. It can cause both financial problems and emotional pain for its victims. Identity theft can destroy your life for months or even years.

When a criminal obtains access to your personal or financial information, that's considered identity theft. These details are used to commit acts of fraud against you. The most common cases of identity theft involve credit card and check fraud. In many cases, the ultimate consequence is the ruination of your credit.

These criminals will take out a credit card and open a bank account using the victim's identity. With a credit card, they'll purchase expensive merchandise that they turn around and sell for cash. With a bank account, they can take out a loan in your name for thousands of dollars. Most often, the thief just vanishes.

Credit isn't the only thing that can be destroyed through identity theft. Frequently, a thief will take your personal information and use it to get a driver's license. If the thief then rents a vehicle and uses it to perpetrate a crime, you'll be the one the police come looking for. Your good name can be destroyed. Even when it's proved that you were a victim, not a criminal, you will continue to be associated with the event.

The good news is that there are lots of tips to prevent identity theft from happening to you. You can never be completely sure of avoiding identity theft. But you can take steps to make it less likely that you'll be a random victim.

Your personal and financial documents are an identity thief's primary target. From bills to bank statements, your mailbox is generally loaded with the details of your personal information. All too often, so is the garbage bin outside your house.

Don't throw away any piece of paper that contains your personal information; always shred it first. Buy an electric shredder to make the job more convenient. Many financial institutions and companies these days provide their bills and statements electronically, so take advantage of this where you can.

Other common, everyday habits can also lead to identity theft all too easily. Never carry your birth certificate, checkbook, or social security card on your person. Checks can be the worst. Not only is your personal information included, your detailed banking information is right there for the taking. Some people even put their social security number right on the check. Avoid this at all costs!

Some common sense and knowledge can go a long way to prevent identity theft. No one wants to go through that painful ordeal.

Know The Basics About Your 401k Retirement Plan

When you're ready to retire, you'll want to make sure that you and your family have all the savings you need to continue to take care of bills and medical expenses, and to live comfortably. A 401k retirement plan can assist you to do just that. But how does the plan work? Here is some important information about this retirement plan, as well as some ideas on how you can make your 401k work for you.

Tax Advice

One of the benefits of this kind of retirement plan is that you can increase the amount of money that you take home each paycheck, since your savings for this retirement account are tax-deferred. This means you can get all the money you need to take care of household expenses now, and you won't have to worry about paying taxes on your retirement plan until you are ready to use it.

Many companies offer matching contributions which they use to encourage employee participation in the program. Of course doing this will increase your savings and your investments will increase. In some inxtances you are given the option to have your savings matched monthly or annually. Selecting the monthly option gives a greater chance of maximizing your investment.

The fact that a 401k retirement plan deduction is taken from your paycheck automatically also makes it easy for you to save on a regular basis. You don't have to worry about withdrawing a certain amount from your check each month and placing it in a separate account, and you also won't have to deal with the hassle of trying not to spend your savings.  This will help you to organize your finances, and may even open up the door to other investment opportunities.

In most cases, you can access your 401k retirement plan in case of an emergency, which means that if you really need the money right away, you can have access to it. You just have to make sure that you replace it as soon as you can, since the money should be taken out as a loan. If you simply make a withdrawal to your account, you can't replace the funds, so be sure to choose wisely. Medical expenses or tuition are among the reasons that people choose to make withdrawals, but you may want to discuss this with your financial advisor before making such an important decision.

Be sure to keep in touch with your company's HR department often to be notified of any changes to your 401k retirement plan, and if you have additional questions, you can visit any number of financial sites to find relevant information.

Tax Advice

Protect Your Credit - Protect Against Identity Theft Today

Identity theft is one the the most rapidly growing criminal activity in America, with an identity being stolen every 4 seconds. It is a extremely grave crime that can have severe ramifications for its victims. Because of this, it is a great idea to implement some sort of identity theft insurance, which will help you to protect your identity.

This crime generally involves a thief using someone else's personally identifying data to commit some sort of fraud or financial theft. Because of the nature of the crime, everyone can fall victim to it and all of us should know of its potential dangers.

With the proliferation of technology, ID theft is becoming more of an issue. Those committing this crime have found ways to use the Internet and email to fool people into revealing their personal data without them every knowing they are doing so. It is the up and coming crime of the information age, and is something we won’t soon be getting rid of.

Victims of this crime are faced with a long, painful journey as they start to straighten out the mayhem that their finances have become. The really unfortunate part is that identity theft is often committed by a member of your family, so it is often you own blood that brings such grief into your lives.

Because information is so readily available due to the use of the Internet, it is easier than ever for thieves to have access to, and use personal and financial information that belongs to others. It is often in the news stories about well know, and very big, companies loosing track of important personal data belonging to their customers.

identity theft is a crime no one should become a victim of. Personally, there are some procedures that you can take to ensure that you never become its victim. Such steps include using an identity theft insurance service, which guards your credit history.

ID theft is a crime that is vast and far-reaching, often involving criminals across the globe. Organized crime syndicates in foreign countries often are committing this criminal act, which makes it very hard to convict these criminals.

The crime of identity theft is increasing every day. Falling victim to it causes your credit rating to be wrecked, makes you deal with debts that you didn’t create, and you can look forward to endless procedures to attempt to clear your name and authenticate you are who you say you are. You are better off to not fall victim to this crime in the first place, so do what you can to protect against identity theft.

Save Money On Groceries - Six Tips

You have probably read articles on how to save money on groceries. They tell you to have a list and sticking to it, use coupons, go to discount membership stores (like Sam's Club), shop sales and stock up when things are cheap. All of this works, but there are less common ways too. Here a few of them.

Store Loyalty Cards

The "loyalty cards" many grocery stores promote give members special prices on various items. That much you know, and it does save you money on your groceries. But it can cost you money and privacy at some stores. Some grocery chains have been selling your purchasing information. Health insurance companies have been some of the buyers.

What does this mean? You might not smoke, but suppose you buy cigarettes for your friend or neighbor. If they are bought using a card with your name on it, you might pay more for insurance as a result. No matter what information you put on the application, the card still works, so be John or Jane Doe. At least put your middle name as your first, or use a different spelling.

Once you have a membership card, keep it in your wallet or purse so you don't forget it. Depending on what you buy, you can get 10% or more off your total bill, and sometimes they have particularly good deals for members, so you can stock up on something you use regularly. Some cards are also good for a discount off each gallon of gasoline at many stations.

Forget The Coupons

Coupons sometimes work, but they are almost always for the name-brand products. Name-brand saltine crackers cost $3.29 as I write this, while it was just $1.29 for the store brand we just bought. A 50-cent coupon still leaves the expensive ones twice as expensive. Often the same crackers are in different boxes, with a store label for one and a brand label for the other, so experiment to see if the quality is the equal (the $1.69 ones we tried were terrible, while the $1.29 ones taste great).

Coupons rarely save you enough money to make a product cheaper than other brands that are available. An exception is some pharmacies that carry groceries and have really good coupon deals. They're willing to lose money on certain products to draw customers into the store. When they have half-priced olives, nuts or canned goods, stock up.

Watch For Mistakes

Mistakes ringing up your order are common and almost never in your favor. The most common reason is sale prices that were never entered into the computer system. Keep an eye on that register, and have any mistakes corrected on the spot. Otherwise, you might spend three dollars in gas to go get your two dollars back later that day.

Don't Bring Children

Teaching your children to be smart shoppers is a great idea, but most of the time they should be left home. They grab things and beg. Perhaps you give in to their demands less than most parents, but why torture them and make shopping more stressful for you? It's almost certain that you'll save money on groceries if you don't bring the children.

Pay Attention To Unit Prices

Check the price-per-unit tags to find the best deals on each item. Larger sizes were typically cheaper per-ounce in the past, but this is changing. Many grocery stores now have the larger items at a higher per-unit price - possibly an attempt to trick you. Do the math.

Eat Before You Shop

Perhaps the easiest way how to save money on groceries is to eat before you go to the grocery store. Not only will you buy less than if you are hungry, but you'll probably buy healthier foods as well.

How To Select The Very Best Credit Card For Your Shopping Habits

You need to be very careful when selecting one of the many credit cards on the market today as there are many advantages as well as disadvantages associated with many of the so called best credit card deals. Whatever card you choose whether it be a VISA, Mastercard or AMEX you must pay great attention and keep a very close eye on your spending while out shopping as failure to stick to your credit limit can lead to tough penalty charges you could do without. Ideally, you need to find the best credit for your particular type of shopping that you carry out on a regular basis. In order to ensure you are getting the best deal for your needs it is absolutely essential you check and double check the small print on the policy you are signing with regards to hidden charge and penalties.

You really need to be strong here and assess your own needs and requirements and not just go for a certain card because your friends have one or you like the brand and advertising promoting it. If you do not require to carry your credit card with you all the time it is best to leave it at home than risk the temptation of overspending on it when you are out. Reading the fine print cannot be underestimated in ensuring you are getting the very best credit card suitable for your needs. This may seem like a chore and something you don't need to do but it is worth making sure you know what you are signing up for and so you can plan your spending and more importantly how you are going to pay the debt back. Defaulting on one payment can lead to a damaged credit history and potentially a rise in the interest rate you will have to pay. If you do get into difficulty with your credit card payments there are options to move this debt to a lower rate of interest through a balance transfer credit card

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Financial Mistakes You May Be Making

All of us make financial mistakes, and research in the new fields of evolutionary economics and behavioral economics are starting to explain why. It will be good to have this knowledge someday. But in the meantime, here are ten of the more common money mistakes you may be making, so you can start correcting them now.

1. Making A Competition Of Financial Decisions

Trying to "beat" anyone else in a financial transaction is a bad habit, unless you are playing poker or negotiating a business or investment deal. The first people to buy new technology get to show it off, but they also get the worst version at the highest price. If you "win" at an auction it means you paid more than anyone else was willing to pay. Looked at that way it doesn't seem so smart.

Evolutionary economics explains why we feel this need to "win." It developed as a way to gain a better position in the tribe, which increased one's survival odds thousands of years ago. This tendency of ours is of very little value in a modern economy, so ignoring such urges is wiser.

2. Believing You Are Owed Something

Nobody owes you a thing unless you have a contract or a promise. Dwelling on what is "owed" to you is a financial mistake because it gets in the way of doing what is necessary. And why does anyone owe you a thing? For example, health insurance came to be expected of large employers based on nothing more than the fact that many provided it. Had enough companies provided cars to employees, we would think we are "owed" a car by our employer.

Forget what is "owed" to you. Just work honestly to get what you can. Ask for a raise, but if you're not paid enough, find another job. Collect that unemployment benefit if it's available, but don't think others have an obligation to provide your income for you. Once you stop looking for your "due" you can start looking at how to make money and create what you need for yourself. Usually this means seeing what others want, and finding a way to provide it for a paycheck or a profit.

3. Believing Value Is About Prices

Suppose a television normally sells for $900 and is on sale for $400. Is that a good value? Most people may think so, but the value of personal items is measured by what the individual user needs. If you're as happy with a $200 television, then the other is over-priced from your perspective. Such personal purchases are worth only what it makes sense for you to pay. If a $20,000 car is worth just $3,000 to you, then that's that (and you don't buy it).

4. Believing Value Is All About You

I once saw a man lose $30,000 by pricing his home too high and leaving it empty for years - one of the more common financial mistakes. With investments, value has nothing to do with what you think a thing is worth. The only important measure is what the market will pay for it.

People often confuse personal consumption items with investments, thinking, for example, that a car is an investment. A $22,000 kitchen remodeling project isn't an investment either, if future buyers will pay only $10,000 more for the home afterwards. The owner might like to  think it added $30,000 in value, but his ideas are irrelevant. He better enjoy that new stove and cupboards, because they were not investments, but a $12,000 personal purchase (that's his net loss).

5. Believing High Profits Are Unfair

In any honest sale, the price is fair, or it wouldn't have been paid. Consider if your own house had a market value of $400,000 and you wanted to sell it. Would you lower the price to make it more "fair?" Not likely, so why expect any business to charge less than what the market dictates?

How much profit is made on something is entirely irrelevant to what its value is. Your choice is to buy it or not. It's a financial mistake to waste time complaining about a profit you would gladly accept if you were on the other side of the transaction. The truth is that you wouldn't buy it if it wasn't a fair price, and nobody (in a free country) is forcing you to. Spend your energy looking for a better alternative or finding ways to make more money instead.

Bank Charges

[I knew I was struggling to make ends meet lately, but it didn’t help that as I opened my mail, I found my statement showing I had incurred bank charges!] [This is outrageous; I mean I didn’t have enough money in it, why do the banks take it into minus, an easier option all round would be to just reject the card! ] [I researched the charge on the net, and found to my amazement, that even if they hadn't taken my account into minus, and just rejected it, I would still have got charged! ] [This is profit the banks are making on absolutely nothing. After research myself, I wanted to be armed with knowledge before I contested the bank charges with the bank. I realised there are many people out there who have had the same bank charges and are trying to fight the banks to claim it back.] [In order to claim these monies back, I had to dig out all my documentation/statements for more than a year ago! I found out I could claim back up to 5 years worth! ] [There was no way I was going to have statements still in one piece dating back 5 years! But it would be well worth trying to get them, as I’m sure I’ve paid various other bank charges in the past. ] [In order to get my statements I would have to write to the bank requesting this, then write again after requesting the money; if they refused I would have to take them to court….] [This was proving to be too much hassle, but to my joy, I found there are companies out there that will do all this for you. Right from the onset, they will sort you out. And what's more they operate on a no win no fee basis…. What more could I want!?] bank charges

Tips On Eradicating Your Credit Card Debts

Those who get into a serious level of credit card debt are often regular consumer spenders and who haven’t checked out their credit rating. Statistics show that in developed countries credit card debt is still on the rise and is close to topping over one trillion dollars when combining the amounts outstanding in the United States, United Kingdom, Australia and Canada. It is not surprising this situation is starting to spiral out of control for many people when you consider the average college student is now finishing their degree with over two thousands dollars of credit card debt alone.

So how do we get out of this credit card debt? The first step is to figure out exactly how much you owe. By figuring out this you will be making a positive move into accepting your position and can start to devise a plan on how you will move out of a negative credit balance. Undertake a credit card comparison on each of your cards and make a note of the amount of debt on each card, current interest rates, charges for late payments, minimum monthly payment, annual fees etc as this can help to evaluate each separate debt and which ones it is going to be worth paying off or switching to another card.

Even with a low credit rating it may still be possible to get access to credit cards with bad credit. This may be very important and enable you to get out of credit card debt faster as applying for one of the 0% balance transfer credit cards will let you shift the debt on the high interest credit cards and stop the most dangerous of these debts from getting any bigger. However having a new credit card to hand can cause more temptation to carry on spending, therefore it is important to have discipline and reduce any new spending to an absolute minimum while continue to pay off as much as you possibly can on your existing high interest cards each month.

Bad Credit Rating - A Good Thing?

A bad credit rating is usually considered a problem, but is it always so? Are there circumstances where it can be beneficial?

Credit is a tool that has to be handled with wisdom to be of value. Being able to borrow money or get credit cards doesn't automatically make a person able to handle that power. In fact, it has gotten many people into serious financial trouble. Wouldn't it have been better for many of them if they had not been able to obtain credit?

Bad Credit Rating - Two True Stories

A friend, whom I will call Jill, didn't pay a phone bill early in adulthood, and made a few other minor mistakes that hurt her credit rating. While it was true that this made it difficult to get a home mortgage later in life, it is also true that it made it almost impossible for her to get credit cards. This was a a good thing, as even she will admit. She just wasn't ready to handle that kind of responsibility, and so her poor credit rating has prevented her from getting deep into debt.

As a result, Jill has to pay cash for things, or wait until she saves enough money. Does this make her a less happy person? Not as far as I can tell. While it's true that she wants to borrow and get credit cards, her inability to do so also means she doesn't have the debt-stress that is so typical now.

Another friend, whom I will call Mark, started his adulthood with a good credit rating. He could get credit cards at will, and finance cars and snowmobiles too. He did all of it. With a decent job he was able to make the payments on his debts - at least at first. But by the time he was 30 years old, he had over $22,000 in credit card and other consumer debt.

Eventually it was too much to handle, and he only avoided bankruptcy by convincing the credit card companies to reduce his balances due. To do this he had to stop paying on the cards, or the companies wouldn't believe his letter explaining his dilemma. Most cut at least 30% off what he owed, provided he paid the remaining balance right away, which he did with a home equity loan.

As a result of this maneuver, his credit rating wasn't as bad as if he had actually declared bankruptcy, and he was able to rebuild his credit score - as well as his credit balances. He quickly began again the stressful process of overburdening himself with debts. So was Mark's decent credit rating a good thing? He has some nice "toys", but as his friend I also see the added stress and unhappiness.

Credit Lessons And Opportunities

A bad credit rating certainly is not something to aim for. On the other hand, if you already have one, why not see it as a lesson and an opportunity? The lesson? Your habits got you there and they would probably get you into more trouble if you could borrow even more money. The opportunity? Learn these lessons and develop better habits.

Pay cash. Get in the habit of saving for things. Knock down those credit card balances. Start setting aside money for a good used car that can be bought without a loan. Then start to put aside what would have been a car payment for a future down payment on house or even a business. Your bad credit rating can be a good thing, if you learn your lesson and seize the opportunity to become a better manager of your personal finances.

Secured Loan Debt Consolidation – Pros And Cons Of Consolidating Debt With Secured Loans

When it comes to getting loans, the secured variety is easiest to get from creditors. Getting a secured personal loan means that you have enough collateral to cover it. This collateral can be a house in most cases, but also a car. Of course, it's not only benefits, there are also pros and cons to secured loans.

Home Equity Line of Credit - The home equity line of credit is a quite common form of secured loans. The amount of money that the loan can bring you depends on the value of the house, as it becomes a collateral.

The best part about a secured home equity loan is the fact that you can deduct the money borrowed. One example is turning $5,000 of credit card debt into a home equity line of credit. While the credit carn payment can't be deducted, you can do it if you have a home equity loan.

Interest Rate Advantages - The interest rate is the second advantage of getting a secured loan in order to do debt consolidation. Debt problems are caused in many cases by credit cards, because of their huge interest rates.

And, you can expect lower interest rates with secured rates, since the collateral "secures" them.

We talked about the advantages of a secured debt consolidation loan, now let's see the cons. You already know that people use a car or their home to take these loans. If you default and can't pay the loan anymore, the car or house will be in danger.

They can be repossessed and put on foreclosure by the banks. And since your house is usually the largest asset you own, you don't want to put it in danger.

A lot of people use debt consolidation to solve their problems when it comes to finances. Know what the cons and pros are, before you consolidate debt with a secured loan.

Discover where to get the best secured loan debt consolidation. Learn more about how to get cheap secured loans for homeowners.

What Exactly Are No Teletrack Payday Loans?

Usually when a person fills out an application for a payday loan online, their data is sent to an bureau called Teletrack which will match their data against a tracking database. The reason for this is to help the lender mitigate the risks they take by providing short term loans to high risk individuals. The data which is collected and processed may include identity information, work information, bank information an also elements of their credit history. Bankruptcy and/or court records may also be verified as well as determining fraud risk. How exactly this information is processed is of course proprietary, so the exact methods are not known.

Considering how many individuals who need payday loans probably do not have perfect credit histories, not all lenders will send data to Teletrack for analysis. Certain individuals who would otherwise be able to get several payday loans at once and pay them on time may be marked as risks if other factors are considered in the Teletrack system. Fortunately not all lenders will trust every decision to be made by Teletrack seek to lend money to all who can pay the money back in time. For people who are looking to receive several loans, finding a lender who offers no teletrack payday loans would be a smart idea.

Teletrack is not the only way a lender can determine how eligible a person is to receive a loan. Other ways a payday company might determine eligibility is to check the applicant's personal and/or work references and to verify their bank account information. When the lending company goes through this verification process, they will surely not let your employer or bank know the full reason they are calling. While you might think otherwise, your privacy is usually a top concern for online payday lenders because they realize a breach may mean a loss of future business.

If you need money fast, but have a history of bad credit, a no Teletrack payday loan may be just what you need. If you have been having trouble obtaining online payday loans and keep having your applications rejected, it would be wise to find a payday lender which offers loans without using the Teletrack agency. The application requirements may be slightly more strict and require more detailed information if the lender is not using Teletrack, but if you shop around you should have no problem getting a loan.

Personal Loan Insurance

There are many factors, which you have no control over, that can cause you to be unable to make payments on a loan that you are responsible for.

You never know when you could be involved in an accident or suddenly become ill and have to leave your workplace for a period of time. It could be that your employer has had to adjust his bottom line by cutting down on the number of people he employs or the wages have had to be lowered, or if you are self-employed there is a chance that your business has not earned you enough to keep up your payments.

The interest rates may have risen and your expenses have probably risen since you first secured your personal loan and this will make it very difficult to repay your loan.

We all worry to some extent about our ability to repay but those of us who have borrowed a great deal are excessively worried about  repayment.People who are elderly or close to retirement, or those with young children also, may worry a lot about such issues and may actually be losing sleep over it.

It is for these reasons that insurers offer loan insurance, which is an insurance policy that protects against the possibility that someone will not be able to make their repayments on personal or secured loans.If you take on credit and you are offered insurance on the loan, you will not be denied the credit just because you do not take out the insurance. If you do wish to take out the loan insurance, you should shop around and not take it from the first insurer you contact because the rates vary widely on this type of insurance.

It can be a little easier to rest when you retire at night knowing that even if something unexpected happens, if you have loan insurance you do not have to worry about things you can’t control.

A few things that could covered by loan insurance are an accident or sudden illness which will need to be handled by a loss of time on the job or a loss of income due to cutbacks in wages or employees.You must be aware of the conditions and exclusions included in the policy agreements before you agree to any type of personal loan insurance; many people pay for loan insurance without much prospect of ever benefiting from it and sometimes without even knowing whether or not they have it.

In order to increase their revenues, some lenders will be anxious to add loan insurance to their customer’s accounts without the customer having any real awareness of agreeing to it. 

No matter how impractical this seems to be, sometimes these personal insurance policies will require that you take the first job you are offered after losing your present one, without any regard to the level of pay being offered.  

If you were to be allowed to search for a better paying job, it is entirely possible that you will be able to find a new job that is a more suitable match for your work experience and pay level.   

You should always be aware of what you are paying for when you get insurance coverage, know what the exclusions are and if you don’t want the insurance, don’t buy it.If you discover that insurance has been added to your account without your express knowledge or permission, notify your lender and have it canceled right now.It is not desirable to anyone to pay for an item that they did not seek to have or intend to use.