Even if you have a bankruptcy, foreclosure, repossessions or other issues to make your credit score low, you may be able to get bad credit refinancing. Unfortunately if you do have bad credit and a low score, the mortgage interest rate you get will be higher than others and you will have a limited choice of lenders.
When you first decide to buy a home you not only have to find the home you want but you need to find the right mortgage. This could entail contacting several lenders and getting their mortgage loan requirements. If you are looking to refinance and your credit is not great, you need to concentrate on finding a mortgage broker. Mortgage brokers partner with lots of different lenders. These brokers know how to find poor credit lenders to make sub prime loans. They match up your credit information with the lenders requirements and find the best loan for you.
To find a mortgage broker you can either go online or check your local yellow pages. Both have access to many different types of loan programs. Applying online is usually the easiest and fastest but some people are still wary about transacting business online. It is true that you don't know who you are dealing with but online transactions are becoming the norm.
An online broker will look at your information, such as credit rating, income, debts, the proposed loan amount, and the amount of equity in your property, then do the initial search for matching mortgage lenders. Usually you can receive up to three or four quotes from lenders without having to leave your house.
Don't expect to get great rates if you have bad credit. It comes down to the amount of risk a lender is willing to take. Before you apply for a loan you need to make your credit report look as good as you can. Get a credit report to make sure all your information is correct. Each year the three main credit reporting agencies will give you a free credit report. You can also get free reports and scores by signing up for credit monitoring services which might be a good idea while you are trying to improve your rating. Pay your bills on time, pay off what bills you can. Make sure all your accounts are in good standing but don't close any of them.
Don't lose hope. As long as your credit rating is higher than 550, you should be able to find a lender willing to give you a secured loan. It might just take a little searching. It might take some time if you have to increase your credit score. Be patient and stick to your goals.
Showing posts with label Personal Finance. Show all posts
Showing posts with label Personal Finance. Show all posts
How to get out of "Debt"
If you are in debt and need help, you are not alone. Many people worldwide are up to debt to their eyeballs because of the crazy and frenetic spending that went on in the nineties and much of the new decade.
When you say to yourself, "I am in debt and need help!" you most likely feel very anxious because of your debt problems and would love to solve these problems immediately.
Being in debt is like having a huge albatross hanging over you. It does not feel good to be in debt, and you most likely wish that you could be debt free as soon as possible.
Unfortunately, it took a while to get into the debt that you are currently in, and it will take a while to get out of this debt. If you could magically snap your fingers and your debt would be gone immediately overnight, this would of course be the best thing.
When you are plagued by credit debt issues, debt solutions seem to be a difficult thing to find. It is most likely hard for you to stop using your credit cards, especially if you have no expenses and real emergencies come up for you. At that point, you wind up deeper and deeper in the debt hole and it becomes a desperate, frustrating, and truly alarming situation.
You may sometimes even feel like throwing in the towel and giving up. You know, however, that this is not the answer and that finding debt solutions to your debt problems are really the answer
So what can you do right now, that can set you on your way to getting debt help and finding a solution to your problems with debt?
1.First thing you need to do is getting all your credit cards together, student loans, car payments, and other debts and add these together. It is truly important to know exactly how much debt you are really in so that debt solutions can be found in the foreseeable future.
2.Determine what is the highest interest rate on all of your debts. You are going to want to tackle this first. Make sure that you put everything in order in a very neat and organize way.
3.Little straggler debts like $200 or $500 should also be taken care of first. These little nuisance debts should be gotten out of the way as soon as possible.
4.Put all of your credit cards away in a safety deposit box out of reach. Keep only one card for emergencies. It is worth $6 per month at your local bank to keep these credit cards out of reach.
5.Set up a monthly budget that includes your bills that you MUST pay as well as entertainment expenses. Put an affordable amount away in cash reserves for an emergency. Make as much of a payment that you can on your credit cards to slowly chip away at your debt. Prioritize entertainment costs, clothes, and other luxuries, and start cutting out some of these that are the least important. Do not totally give up on your luxuries because you will become upset, feel very deprived, and perhaps lose your resolve to get out of debt.
If your debt problems are really severe, it is important that you see a credit debt counselor that is preferably from a non-profit agency rather than one that is for profit.
Good luck in solving your debt problems and getting out of debt for good! Life is much better when you are debt free and have abundance!
When you say to yourself, "I am in debt and need help!" you most likely feel very anxious because of your debt problems and would love to solve these problems immediately.
Being in debt is like having a huge albatross hanging over you. It does not feel good to be in debt, and you most likely wish that you could be debt free as soon as possible.
Unfortunately, it took a while to get into the debt that you are currently in, and it will take a while to get out of this debt. If you could magically snap your fingers and your debt would be gone immediately overnight, this would of course be the best thing.
When you are plagued by credit debt issues, debt solutions seem to be a difficult thing to find. It is most likely hard for you to stop using your credit cards, especially if you have no expenses and real emergencies come up for you. At that point, you wind up deeper and deeper in the debt hole and it becomes a desperate, frustrating, and truly alarming situation.
You may sometimes even feel like throwing in the towel and giving up. You know, however, that this is not the answer and that finding debt solutions to your debt problems are really the answer
So what can you do right now, that can set you on your way to getting debt help and finding a solution to your problems with debt?
1.First thing you need to do is getting all your credit cards together, student loans, car payments, and other debts and add these together. It is truly important to know exactly how much debt you are really in so that debt solutions can be found in the foreseeable future.
2.Determine what is the highest interest rate on all of your debts. You are going to want to tackle this first. Make sure that you put everything in order in a very neat and organize way.
3.Little straggler debts like $200 or $500 should also be taken care of first. These little nuisance debts should be gotten out of the way as soon as possible.
4.Put all of your credit cards away in a safety deposit box out of reach. Keep only one card for emergencies. It is worth $6 per month at your local bank to keep these credit cards out of reach.
5.Set up a monthly budget that includes your bills that you MUST pay as well as entertainment expenses. Put an affordable amount away in cash reserves for an emergency. Make as much of a payment that you can on your credit cards to slowly chip away at your debt. Prioritize entertainment costs, clothes, and other luxuries, and start cutting out some of these that are the least important. Do not totally give up on your luxuries because you will become upset, feel very deprived, and perhaps lose your resolve to get out of debt.
If your debt problems are really severe, it is important that you see a credit debt counselor that is preferably from a non-profit agency rather than one that is for profit.
Good luck in solving your debt problems and getting out of debt for good! Life is much better when you are debt free and have abundance!
101 Tips for Legally Improving Your Credit Score
The Secret Of Boosting Your Credit Rating - Finally Revealed!
If bad credit is holding you back, you can start nursing your ailing record back to health today with a few strategic moves.
We've all made our financial mistakes. Sometimes it takes a mistake to teach ourselves a lesson. But a few financial mistakes do not spell the end of our financial lives.
After a battle plan is drawn up. After a few strategic moves are put in to place. After a few tricks and tactics are used to the best of their ability. It is possible to reclaim trust from creditors, lenders, and renters.
All it takes is the right knowledge and a little bit of your time...
"Give Me 45 Minutes And I'll Have You On Your Way To A Better Credit Rating, Happy Lenders, And Open Doors!"
If you're planning on asking for a loan in the future... If you want to get help from the bank to buy your dream home, dream car, start your own business or more... but feel like your bad credit rating is holding you back. FRET NO MORE.
Within my 50 page guide, "101 Legitimate Tips For Boosting Your Credit Score," I'll teach you exactly how the credit bureau's do their business. I'll teach you how to regain their trust step by step, and even show you a few simple tricks for being financially responsible.
You can download my guide straight to your computer in minutes. Once you do, the tips and tricks inside will blow your mind...
...here is just SOME of the information you will find inside:
=>What's a good credit score? And at what score should I start to be worried. (Page 4)
=>Even if you pay all your bills on time, you may still have marks against your credit. See why here. (Pages 4-5)
=> 3 top credit agencies and how to keep tabs on them. (Page 5)
=> 4 ways the credit bureau's look at your lending history - and how important each view is. (Pages 6-7)
=> 3 ways to boost your credit score (and it's not just paying your bills). (Pages 7-8)
=> 10 steps to protecting your identity from thieves who may destroy your credit on their joyride across the country. (Page 9)
=> 4 steps to take right away if you think you've been a victim of identity theft. It may not be too late. (Pages 11-12)
=> 5 common credit mistakes you may commit if you don't know about them in advance. (Pages 12-14)
=> How not having any debts may actually hurt your credit score. (Page 14)
=> How to dispute bad marks on your credit report. (Page 15)
=> After you contact the credit bureau about an error in your credit report, make sure you contact these people next. (Page 16)
=> The truth about "free credit reports" online. (Page 17)
=> 3 ways to start building up trust after a major credit disaster. (Pages 17-18)
=> When to consider declaring bankruptcy. (Page 21)
=> 5 organizations that can help you when you're in over your head. (Pages 22-23)
=> When you should fear credit repair companies. (Pages 23)
=> 6 common scams some credit repair companies try and pull. (Pages 24-25)
=> How to use your bank as an ally in your fight against bad credit. (Page 25)
=> 5 ways to curb your spending habit. (Page 27)
=> How to automatically cut down on your spending without beating yourself up. (Page 28)
=> 6 ideas for adding extra dollars to your monthly income. (Page 29)
And there's MUCH more - guaranteed!
It's Not Too Late To Build A Credit Rating
ONLY $0.99
How To Become Financially Responsible
At a time when financial security is anything but secure, it is important to take several precautions to become more financially responsible and to better prepare for the future. In our contemporary culture, it seems there are a million ways to spend our money, and even more bills and obligations that seem to bleed our paychecks dry. Being financially responsible has never been an easy task, but it's effort that's worth taking. Once you've made the commitment to manage your finances more wisely, you can use the following suggestions to take control of your life and finally have the peace of mind that comes with becoming financially stable.
Get Out of Debt
The first step in becoming financially secure is to get out of debt. There are a variety of different forms of debt, but the only acceptable kind of ongoing debt for the financially wise is a home mortgage. And the worst kind of debt a person can have is credit card debt. Credit cards have astronomically high interest rates, and it has been proven that if people only make the minimum payments on their credit card bills, the interest charges will add up so that they will never be able to pay off the credit card. Credit card debt is financially destructive because you end up paying more money in interest, which means you're paying money that could and should be going toward something else more valuable.
If the temptation to use your credit cards proves too strong, you may want to consider getting rid of them and just using a debit card to pay for your expenses. You may think this sounds limiting, but that's exactly the point. If you limit what you spend, you will have more money for what is truly important.
Going into debt for purchases other than a home should be done only after careful consideration. Going into debt even for a vehicle is not a wise idea. Cars depreciate in value so quickly that when you buy a car, you should plan on driving it for several years. And it's just not worth your money to buy an expensive car that will depreciate quickly. Choose a reliable car that you can afford, and drive it for as long as possible.
The best way to manage your debt is to follow an accelerated debt reduction program, where you pay off your smallest debt first and then work on your other debts. More details about an accelerated debt reduction program and how it works can be found on a variety of financial websites and from financial advisors. There are also a variety of other debt management services available, including Christian debt management. With Christian debt management people can receive financial assistance in ways that harmonize with their beliefs and philosophies.
Downsize and Downgrade
Another step to take on the road to becoming financially responsible is to downsize and downgrade. Examine your possessions and decide what you can live without, as well as what is too extravagant for your needs. For instance, is your home too big for you and your family? Or, is your car more expensive than it needs to be? If so, downgrade. Consider moving to a smaller, more affordable home and to perhaps drive an older model of vehicle. Or better yet, take public transportation or ride a bike and save enormous amounts of money on transportation expenses. Aside from these major downgrades, people should also evaluate how much money they spend on food and make adjustments if necessary. For those who are struggling financially, going out to eat on a regular basis is unwise. You can make your own meals at home for only a fraction of the cost.
Keep a Budget
If you are not sure where your money is going, try keeping a budget. You don't have to schedule where you're money should be spent; rather, you should just keep track of what you're spending your money on. This way you can become more aware of what you're spending your money on and where you can make needed cuts and adjustments. Because the best way to save money is to stop spending it.
Saving Money
Once you've made any necessary adjustments to your daily spending behavior and have gotten out of unnecessary debt, the next step toward becoming more financially secure is to save money. Ideally, you should aim to save enough money to be able to live for three months without any income. This provides a measure of security in case something happens and you are unable to work for a period of time.
When saving money, the first steps are to set up a savings account and then to determine to not withdraw money from it, unless in a time of dire emergency. Making saving money a habit will also help ensure that you meet your goals. Determine a certain percentage of your paycheck to set aside each month or pay period, and put that money into your savings count. Savings accounts often gain interest, and the more money you put in, the more money you can make, so that even a small amount, such as 10%, can make a big difference in the long run.
As you may have noticed, being financially responsible doesn't allow for a lot of self-indulgence or unnecessary purchases. That's not to say that you can't budget in a little fun here and there, but it does mean that you must recognize that your secure financial future is more important than momentary frivolity. By being willing to sacrifice and follow the above suggestions toward becoming more financially secure, you can be more confident in your ability to face the future and have a stronger peace of mind that you and your family will be taken care of during troubling times.
--------------------------------
About the Author
Christianinfoondebts (http://www.christianinfoondebts.org/) is a Christian debt management. Art Gib is a freelance writer.
Get Out of Debt
The first step in becoming financially secure is to get out of debt. There are a variety of different forms of debt, but the only acceptable kind of ongoing debt for the financially wise is a home mortgage. And the worst kind of debt a person can have is credit card debt. Credit cards have astronomically high interest rates, and it has been proven that if people only make the minimum payments on their credit card bills, the interest charges will add up so that they will never be able to pay off the credit card. Credit card debt is financially destructive because you end up paying more money in interest, which means you're paying money that could and should be going toward something else more valuable.
If the temptation to use your credit cards proves too strong, you may want to consider getting rid of them and just using a debit card to pay for your expenses. You may think this sounds limiting, but that's exactly the point. If you limit what you spend, you will have more money for what is truly important.
Going into debt for purchases other than a home should be done only after careful consideration. Going into debt even for a vehicle is not a wise idea. Cars depreciate in value so quickly that when you buy a car, you should plan on driving it for several years. And it's just not worth your money to buy an expensive car that will depreciate quickly. Choose a reliable car that you can afford, and drive it for as long as possible.
The best way to manage your debt is to follow an accelerated debt reduction program, where you pay off your smallest debt first and then work on your other debts. More details about an accelerated debt reduction program and how it works can be found on a variety of financial websites and from financial advisors. There are also a variety of other debt management services available, including Christian debt management. With Christian debt management people can receive financial assistance in ways that harmonize with their beliefs and philosophies.
Downsize and Downgrade
Another step to take on the road to becoming financially responsible is to downsize and downgrade. Examine your possessions and decide what you can live without, as well as what is too extravagant for your needs. For instance, is your home too big for you and your family? Or, is your car more expensive than it needs to be? If so, downgrade. Consider moving to a smaller, more affordable home and to perhaps drive an older model of vehicle. Or better yet, take public transportation or ride a bike and save enormous amounts of money on transportation expenses. Aside from these major downgrades, people should also evaluate how much money they spend on food and make adjustments if necessary. For those who are struggling financially, going out to eat on a regular basis is unwise. You can make your own meals at home for only a fraction of the cost.
Keep a Budget
If you are not sure where your money is going, try keeping a budget. You don't have to schedule where you're money should be spent; rather, you should just keep track of what you're spending your money on. This way you can become more aware of what you're spending your money on and where you can make needed cuts and adjustments. Because the best way to save money is to stop spending it.
Saving Money
Once you've made any necessary adjustments to your daily spending behavior and have gotten out of unnecessary debt, the next step toward becoming more financially secure is to save money. Ideally, you should aim to save enough money to be able to live for three months without any income. This provides a measure of security in case something happens and you are unable to work for a period of time.
When saving money, the first steps are to set up a savings account and then to determine to not withdraw money from it, unless in a time of dire emergency. Making saving money a habit will also help ensure that you meet your goals. Determine a certain percentage of your paycheck to set aside each month or pay period, and put that money into your savings count. Savings accounts often gain interest, and the more money you put in, the more money you can make, so that even a small amount, such as 10%, can make a big difference in the long run.
As you may have noticed, being financially responsible doesn't allow for a lot of self-indulgence or unnecessary purchases. That's not to say that you can't budget in a little fun here and there, but it does mean that you must recognize that your secure financial future is more important than momentary frivolity. By being willing to sacrifice and follow the above suggestions toward becoming more financially secure, you can be more confident in your ability to face the future and have a stronger peace of mind that you and your family will be taken care of during troubling times.
--------------------------------
About the Author
Christianinfoondebts (http://www.christianinfoondebts.org/) is a Christian debt management. Art Gib is a freelance writer.
Understanding Obama's Federal Loan Modification Program
Obama's federal loan modification program could be the answer you have been searching for! It is designed to save the homes of nearly five million people who are currently facing the harsh reality of losing their homes. The home loan modification program will be handled by your lending institution, which is required to abide by specific rules set forth in Obama's home stimulus plan. The end result is expected to stimulate the economy by saving millions of people from foreclosure.
In order to understand the nuts and bolts of this loan modification program, let's explore exactly what it could do for you, the home owner. It is designed to look at your mortgage, and then lower your interest rate. It could be set as low as 2% depending upon your financial situation. In addition, the home loan modification offers a very unique twist! If your payments are made on time, you could qualify for the Treasury to pay up to $5,000 towards your principle over a 5 year period. This is one of the best motivators for home owners that are seeking relief from Obama's stimulus plan.
The loan modification program (like all other loans) requires that you have all of the necessary paper work as well as an application completed. It is crucial that you talk to your banker and obtain all of the paperwork needed to facilitate this mortgage modification. You will need to keep a copy of each document in case you are ever asked to verify your eligibility once approved. Be prepared, talk to your lending institution, and obtain as much information as possible. This will make the approval process, as well as any future verification stress free.
Your first step should be to calculate your debt ratio. You can do this yourself; simply divide your primary residence monthly cost by your monthly gross income. If the total is below 45%, you should have no problem getting approved for the home loan modification program. The next step is to contact your financial institution. The home stimulus package, including this home loan modification program is designed to save your home. Get the forms, do the paperwork, and you can be one of the 5 million home owners back on the road to security!
------------------------
About the Author
by Scott A. Kennedy
Click here to learn how to get qualified for Obama's mortgage Loan modification .
In order to understand the nuts and bolts of this loan modification program, let's explore exactly what it could do for you, the home owner. It is designed to look at your mortgage, and then lower your interest rate. It could be set as low as 2% depending upon your financial situation. In addition, the home loan modification offers a very unique twist! If your payments are made on time, you could qualify for the Treasury to pay up to $5,000 towards your principle over a 5 year period. This is one of the best motivators for home owners that are seeking relief from Obama's stimulus plan.
The loan modification program (like all other loans) requires that you have all of the necessary paper work as well as an application completed. It is crucial that you talk to your banker and obtain all of the paperwork needed to facilitate this mortgage modification. You will need to keep a copy of each document in case you are ever asked to verify your eligibility once approved. Be prepared, talk to your lending institution, and obtain as much information as possible. This will make the approval process, as well as any future verification stress free.
Your first step should be to calculate your debt ratio. You can do this yourself; simply divide your primary residence monthly cost by your monthly gross income. If the total is below 45%, you should have no problem getting approved for the home loan modification program. The next step is to contact your financial institution. The home stimulus package, including this home loan modification program is designed to save your home. Get the forms, do the paperwork, and you can be one of the 5 million home owners back on the road to security!
------------------------
About the Author
by Scott A. Kennedy
Click here to learn how to get qualified for Obama's mortgage Loan modification .
How to file for Chapter 7 Bankruptcy
There are many types of bankruptcy available to individuals who want to get out of financial problems. Filing a chapter 7 bankruptcy can give the debtor a fresh start and achieve a quicker debt relief option for the debtor. What happens under this bankruptcy is that the debtor's non exempt assets are sold and the proceeds distributed among the creditors. When you choose this bankruptcy option, you are left with little or no assets.
Do some research and ensure that you are eligible for this type of bankruptcy. You can do this by checking if your monthly income falls below the median income of your state. You are then eligible to file immediately. Talk to a bankruptcy attorney. Your attorney should be able to shed more light on your situation and advice you on whether this is the right chapter for you. They should also guide you throughout the process. Attending credit counseling sessions is mandatory. This will cost you between $40 US dollars to $ 50 US dollars.
Ensure that your paperwork is in order. All the important information concerning the creditors, amounts and the types of debts, assets, monthly expenditure, current income, contracts and tax returns should be included. This could save you lawyer's fees especially where they charge by the hour. File a petition with your local bankruptcy court. This will give way to a "stay", which will deny access to creditors to come after you demanding for what you owe them. Make sure you pay the required filing fees. If you have a special case, a payment plan can be arranged to ease the burden of paying upfront.
Be present at all meetings with your creditors. Cooperation is essential, so provide them with all the necessary documents and records promptly. The sooner you comply, the sooner you get on with your life.
-------------------------------
About the Author
Mercy Maranga writes content on Finance and Debt Management. Visit her site here for more information on Finance and how to effectively Manage your debts. Bankruptcy
Do some research and ensure that you are eligible for this type of bankruptcy. You can do this by checking if your monthly income falls below the median income of your state. You are then eligible to file immediately. Talk to a bankruptcy attorney. Your attorney should be able to shed more light on your situation and advice you on whether this is the right chapter for you. They should also guide you throughout the process. Attending credit counseling sessions is mandatory. This will cost you between $40 US dollars to $ 50 US dollars.
Ensure that your paperwork is in order. All the important information concerning the creditors, amounts and the types of debts, assets, monthly expenditure, current income, contracts and tax returns should be included. This could save you lawyer's fees especially where they charge by the hour. File a petition with your local bankruptcy court. This will give way to a "stay", which will deny access to creditors to come after you demanding for what you owe them. Make sure you pay the required filing fees. If you have a special case, a payment plan can be arranged to ease the burden of paying upfront.
Be present at all meetings with your creditors. Cooperation is essential, so provide them with all the necessary documents and records promptly. The sooner you comply, the sooner you get on with your life.
-------------------------------
About the Author
Mercy Maranga writes content on Finance and Debt Management. Visit her site here for more information on Finance and how to effectively Manage your debts. Bankruptcy
How to fix your credit on your own
Today many people are turning credit repairing companies to help repair their credit. These companies are charging up to $100 per month to join and $40 - $50 per month to erase debts from your credit report.
We all are trying to save in this recession, and let's face it, if we had that kind of money in the first we will not need to be repairing our credit. Repairing your credit on your own is easy if you are trying to remove "accurate- bad information".
You must know that not all debts can be removed from your credit report, such debts we called "accurate negative information. These debts remain on your credit for 7 years (seven) from the date of the first delinquent report. Therefore the same thing a credit repairing company going to do you can do it yourself for free.
Inaccurate information
Inaccurate information means that someone else information was past on to your credit report. If this inaccurate information has past the reporting date, then you can have the credit agencies remove it from your report.
Get a copy of your credit report from all three credit agencies at annualcreditreport.com, this is actually free. Make sure after fully reviewing your credit report you call the agency to dispute any items you believe to be inaccurate or that should have be taken off your report long time ago.
Creditor versus Credit Bureau
To dispute your claims start with the bureaus, as they guide you on how to dispute your claims. These are the same information given to the credit repairing companies, with you bureau you are getting first hand knowledge.
Sometimes you can call the original creditor and tell them you have made all the payments and if they could update the bureaus regarding these payments.
Do not close accounts
If you have credit cards that you are trying to pay off, if the company offers you a one time pay off, DO Not accept, as this will affect your credit tremendously. Work out a deal to pay off the entire amount. Do not allow your credit card accounts to be close with a balance on them. Always pay off your balances no matter how long it takes.
TIPS
When you are finishing repairing your credit, make all your credit payments on time, and check your credit report regularly to ensure that no one else is using your credit information, this can prove costly.
How to Eliminate Debt
Over 1.6 million people filed for bankruptcy last year. Most people are using their credit cards to buy everything they see, and do not know when to quit.
Why are most of us in debt? How do we eliminate these debts? Below are steps you need to follow to take yourself out of debt.
DON"T over spend
Do not spend what you don't have. Make a budget a stick to it. Figure out your "needs from your wants"
Cash ONLY
Pay with cash instead of credit cards, because when you have a credit card you tend to over spend. This will help you to save, because if you use cash, you stop shopping when the cash is used up.
Save for rainy day
It is always wise to save for the rainy day (loss jobs,disability or divorce). Have a least 3 months worth of mone set aside for expenses. Start saving it now and consider that money untouchable.
Negotiate With Creditors
You can negotiate with your lenders for lower interest rate, or ask that late charges or annual fees be waived. Credit card companies are willing to negotiate, as they do not want to lose your business, especially if you are a good customers. So call today and negotiate a deal.
DON'T pay just the minimum on credit cards.
This is a no no, pamying just the minimum balance does no good for your credit. Try to pay at least 3 times the minimum due. Most credit card companies typically require that you pay at least 2 percent of the outstanding balance.
Pay on time
Paying all your bills on time if necessary is the best thing to do. This will help you to eliminate all late fees. Late fees can be very expensive for example late charges for credit card payment is $35, so if you are late every month for a year you would have paid $420 as late charges.
Set up automated payment if possible, as this will save you a lot in the future.
Lower your Debts
Always look for ways to lower your debts. You can refinance your car loan and save big bucks. Go to http://www.capitaloneauto.com/, this is the nation's largest online lender. They will you to save money on your monthly auto payments.
If you want to save on your bills such as internet service, telephone bills try http://www.lowermybills.com/ . This website has over 18 categories of bills.
Why are most of us in debt? How do we eliminate these debts? Below are steps you need to follow to take yourself out of debt.
DON"T over spend
Do not spend what you don't have. Make a budget a stick to it. Figure out your "needs from your wants"
Cash ONLY
Pay with cash instead of credit cards, because when you have a credit card you tend to over spend. This will help you to save, because if you use cash, you stop shopping when the cash is used up.
Save for rainy day
It is always wise to save for the rainy day (loss jobs,disability or divorce). Have a least 3 months worth of mone set aside for expenses. Start saving it now and consider that money untouchable.
Negotiate With Creditors
You can negotiate with your lenders for lower interest rate, or ask that late charges or annual fees be waived. Credit card companies are willing to negotiate, as they do not want to lose your business, especially if you are a good customers. So call today and negotiate a deal.
DON'T pay just the minimum on credit cards.
This is a no no, pamying just the minimum balance does no good for your credit. Try to pay at least 3 times the minimum due. Most credit card companies typically require that you pay at least 2 percent of the outstanding balance.
Pay on time
Paying all your bills on time if necessary is the best thing to do. This will help you to eliminate all late fees. Late fees can be very expensive for example late charges for credit card payment is $35, so if you are late every month for a year you would have paid $420 as late charges.
Set up automated payment if possible, as this will save you a lot in the future.
Lower your Debts
Always look for ways to lower your debts. You can refinance your car loan and save big bucks. Go to http://www.capitaloneauto.com/, this is the nation's largest online lender. They will you to save money on your monthly auto payments.
If you want to save on your bills such as internet service, telephone bills try http://www.lowermybills.com/ . This website has over 18 categories of bills.
25 Easy Money-Saving Tips
1. Cut out the soda and drink more water! You'd be surprised how much you will save.
2. Go over your grocery list. Try buying more off-brands. Most of the ones I've tried are just as good as their more expensive counterparts.
3. Buy clothes and shoes for you and the kids from the clearance racks. I have been buying my sons' school clothes this way for years!
4. Get movies from the library instead of renting them.
5. Same with books, borrow instead of buy. We usually only read them once anyway.
6. Go on a picnic instead of going to the restaurant. It is more fun and much cheaper!
7. Toss all your change in a "piggy bank" of some kind and let it accumulate for a few months or longer. You will think you struck it rich! (Not really, but it does add up)
8. If you have all the movie channels, cut them down a bit. Most of the movies rotate through them all anyway.
9. Do your laundry at night. The rates are cheaper.
10. Give your clothes an extra spin as it costs less to run a washer than the dryer.
11. Ask your credit card companies for a lower interest rate. Sometimes rather than lose a good customer, they will grant your wish!
12. Buy your holiday decorations AFTER the holiday. You can save up to 75% or more.
13. Turn down your heat a couple degrees more at night and throw on an extra blanket.
14. Clean behind your refrigerator at least once a year to get out all the dust and dirt that can cost you more money.
15. Save empty bread bags and grocery bags instead of buying box after box of storage bags.
16. Keep your car tune and your tires properly inflated to save money on gas.
17. Buy inexpensive fabric for cloth napkins, doilies, etc.
18. Be creative when it comes to decorating. Use sheets to make curtains. Use an old quilt as a cozy wall-hanging. Create an artful display with family photos.
19. Save the new, convenient plastic coffee cans with handles. Paint them, decorate them and use them for organizers for kids art supplies, your CDs, pens & pencils, food envelopes, recipes, craft supplies, etc.
20. Turn unused stuff into money. If you have a gift you haven't used or that shirt you bought and never wore, take them back to the store. You might not get full price, but some is better than none.
21. Use petroleum jelly to remove make-up. It is much more economical then beauty products made for removing make-up.
22. Hydrogen peroxide can be used to kill germs in cuts and sores rather then expensive antibiotic medicines.
23. Make windowsill or container gardens and grow herbs and fresh vegetables.
24. Instead of a night on the town, send the kids to Grandma's and have a romantic night at home.
25. Make and STICK TO a budget! Find out more by emailing budgeting@getresponse.com
2. Go over your grocery list. Try buying more off-brands. Most of the ones I've tried are just as good as their more expensive counterparts.
3. Buy clothes and shoes for you and the kids from the clearance racks. I have been buying my sons' school clothes this way for years!
4. Get movies from the library instead of renting them.
5. Same with books, borrow instead of buy. We usually only read them once anyway.
6. Go on a picnic instead of going to the restaurant. It is more fun and much cheaper!
7. Toss all your change in a "piggy bank" of some kind and let it accumulate for a few months or longer. You will think you struck it rich! (Not really, but it does add up)
8. If you have all the movie channels, cut them down a bit. Most of the movies rotate through them all anyway.
9. Do your laundry at night. The rates are cheaper.
10. Give your clothes an extra spin as it costs less to run a washer than the dryer.
11. Ask your credit card companies for a lower interest rate. Sometimes rather than lose a good customer, they will grant your wish!
12. Buy your holiday decorations AFTER the holiday. You can save up to 75% or more.
13. Turn down your heat a couple degrees more at night and throw on an extra blanket.
14. Clean behind your refrigerator at least once a year to get out all the dust and dirt that can cost you more money.
15. Save empty bread bags and grocery bags instead of buying box after box of storage bags.
16. Keep your car tune and your tires properly inflated to save money on gas.
17. Buy inexpensive fabric for cloth napkins, doilies, etc.
18. Be creative when it comes to decorating. Use sheets to make curtains. Use an old quilt as a cozy wall-hanging. Create an artful display with family photos.
19. Save the new, convenient plastic coffee cans with handles. Paint them, decorate them and use them for organizers for kids art supplies, your CDs, pens & pencils, food envelopes, recipes, craft supplies, etc.
20. Turn unused stuff into money. If you have a gift you haven't used or that shirt you bought and never wore, take them back to the store. You might not get full price, but some is better than none.
21. Use petroleum jelly to remove make-up. It is much more economical then beauty products made for removing make-up.
22. Hydrogen peroxide can be used to kill germs in cuts and sores rather then expensive antibiotic medicines.
23. Make windowsill or container gardens and grow herbs and fresh vegetables.
24. Instead of a night on the town, send the kids to Grandma's and have a romantic night at home.
25. Make and STICK TO a budget! Find out more by emailing budgeting@getresponse.com
How to Pay Yourself First
Step 1: Set up categories for spending for such things as groceries,
transportation, and debt.Be sure to create a category for “self pay” or “savings.”
Step 2: As you track your spending look for wasted or “found” money.
Step 3: Before you make a debt payment or buy food or other items, deposit this “found” money in your “self pay” or “savings” account. Anybody can find at least
1 percent they can set aside immediately. Happy hunting!
Source:Money Mastery
transportation, and debt.Be sure to create a category for “self pay” or “savings.”
Step 2: As you track your spending look for wasted or “found” money.
Step 3: Before you make a debt payment or buy food or other items, deposit this “found” money in your “self pay” or “savings” account. Anybody can find at least
1 percent they can set aside immediately. Happy hunting!
Source:Money Mastery
How to make money online using Google Adsense
There are many ways of making money online, and one of the best ways is through Google Adsense. Google Adsense use target ads for your website, therefore making it easier for you to make money if you have a good site with great traffic.
Blog website
Blogger.com is owned by Google, it is very easy to put the ads to your website. To get traffic which is the key to making money, you have to find a good niche, with great "keywords". You can go to Google keywords tools, to get an idea of whatever niche you chose to see how targetable there are.
A niche like "making money" is ideal because you can get many keywords that can be used in your back-links. Having back-links is also important if you have more than site, as you can link different keywords to each site
Set up a Blog, and find a great niche, Google will put target ads on your site when you sign up for Google Adsense
If you do not have a blog website but have other website, where you sell product or services, you need to apply to Google Adsense for an account. Once you are approve you will get a of HTML code that you will need to program into your website so that AdSense will be able to run and be able to be tracked on your website.
You can also add a Google search box to your site; this is like searching on Google but this allows visitors to remain at your site. This allows you to earn revenue. Increasing traffic to your website will be very helpful, therefore write quality content that appeals to a large audience
Produce articles with that will top the search engine results, and learn how to use keywords to your advantage in order to attract more viewers.
"How Much Can You Earn With AdSense"
The sky is the limit when it comes to making money on Google. As previously stated, all you have to do is to sell, write about your product and services that will attract potential customers to your website.
The commission you receive per click from ads on your website depends on how much advertisers are paying Google for the particular ad. You can earn a share of that amount, ranging from 2 cents to $15 per click. Also Advertisers generally pay more for popular terms because they are searched for more.
Remember the amount of income you earn from Google Adsense depends largely on the amount of targeted traffic you receive to your website, how well the ads match your audience's interests, the placement of the ads on your pages, and of course the amount you receive per click.
--------------------
How do I Calculate my Earnings?
This calculation is based on assumptions
(1) If a vistor your website view 2 pages that contains google ads then is considered 2 impressions per visitor.
(2) A page CTR of 2.5 % means that for ever 100 pages view from your website 2.5 ads are click on.
(3) Most ads are paid between $0.01 and $0.25 per click, and a few others might pay more.
(4) Google paid for both AdSense for Content and also from AdSense for Search
----------------------------
If you need more information about google adsense, you can buy this book "Building your own Google Empire"
ONLY $1.99
Blog website
Blogger.com is owned by Google, it is very easy to put the ads to your website. To get traffic which is the key to making money, you have to find a good niche, with great "keywords". You can go to Google keywords tools, to get an idea of whatever niche you chose to see how targetable there are.
A niche like "making money" is ideal because you can get many keywords that can be used in your back-links. Having back-links is also important if you have more than site, as you can link different keywords to each site
Set up a Blog, and find a great niche, Google will put target ads on your site when you sign up for Google Adsense
If you do not have a blog website but have other website, where you sell product or services, you need to apply to Google Adsense for an account. Once you are approve you will get a of HTML code that you will need to program into your website so that AdSense will be able to run and be able to be tracked on your website.
You can also add a Google search box to your site; this is like searching on Google but this allows visitors to remain at your site. This allows you to earn revenue. Increasing traffic to your website will be very helpful, therefore write quality content that appeals to a large audience
Produce articles with that will top the search engine results, and learn how to use keywords to your advantage in order to attract more viewers.
"How Much Can You Earn With AdSense"
The sky is the limit when it comes to making money on Google. As previously stated, all you have to do is to sell, write about your product and services that will attract potential customers to your website.
The commission you receive per click from ads on your website depends on how much advertisers are paying Google for the particular ad. You can earn a share of that amount, ranging from 2 cents to $15 per click. Also Advertisers generally pay more for popular terms because they are searched for more.
Remember the amount of income you earn from Google Adsense depends largely on the amount of targeted traffic you receive to your website, how well the ads match your audience's interests, the placement of the ads on your pages, and of course the amount you receive per click.
--------------------
How do I Calculate my Earnings?
Let assume that you have 10,000 Unique Visitors per Day , then here goes the break down
10,000 unique visitors = 20,000 page impressions per day.
20,000 page impressions multiplied by 2.5% Page CTR = 500 Google Ad clicks per day.
500 clicks multiplied by $0.25 = $125.00 per day.
$125.00 per day = $3,750.00 per month. (30 days)
$175.00 per day = $45,625.00 per year. (365 days)
This calculation is based on assumptions
(1) If a vistor your website view 2 pages that contains google ads then is considered 2 impressions per visitor.
(2) A page CTR of 2.5 % means that for ever 100 pages view from your website 2.5 ads are click on.
(3) Most ads are paid between $0.01 and $0.25 per click, and a few others might pay more.
(4) Google paid for both AdSense for Content and also from AdSense for Search
----------------------------
If you need more information about google adsense, you can buy this book "Building your own Google Empire"
ONLY $1.99
Purchasing a House. Is it the right time?
With so many homes going into foreclosure now is the best time to buy a home, as there are so many deals. If you have a good credit you should have no problem purchasing a house. Mortgage rate are at a historic low reducing the cost of financing for buyers
Homes in places like Atlanta Georgia, and it surroundings, are going for a steal. Homes that were orginally price at $500,000, you can get for 3/4 or 1/2 the price.
There will come a time when more and more people will buyer, therefore house price will eventually start going up. Hence,interest rate and every thing will start going up. Therefore purchasing a home is the right chose now, as the market is good for buyers
How to avoid foreclosure
Paying your mortgage is becoming increasely difficult. Many homeowners are facing foreclosure, which is the last thing anyone want to do. If you do not pay your monthly mortgage payment, you are technically in default on your mortgage. State laws vary, but generally, a loan that is as little as 90 days delinquent can be considered in foreclosure. To avoid foreclosure, please read the following tips.
------------------------------
Difficulty: Moderate
**** INSTRUCTIONS****
Step1
At the first sign, that you are having difficulties to pay your mortgage contact your lender, as the further behind you are, the harder it will be to reinstate your loan and the more likely that you will lose your house. Lenders do not want to see you lose your house, therefore they are willing to work with you, and they have options to help borrowers through difficult financial times.
------------------------------------
Step2
The Lender have alternatives such as: * Giving you time to make your payment, by working out a repayment plan that is affordable for you. This is called forbearance. * Modifying your mortgage is another alternative, this allows you to refinance at a lower interest rate, allowing you to catch up on your mortgage monthly payments to a more affordable level.
*Your mortgage company may be able to work with you to obtain an interest free loan from HUD to bring your mortgage current, which will pay back the missed payments. This is called a partial claim.
* Consider a short sale if your house is worth less than it owed to the lender. This will allow you to sell your property and pay off your mortgage loan to avoid foreclosure and damage to your credit rating. This is called a pre-foreclosure redeemed.
------------------------------
Step3
Another way is to voluntarily "give back" your property to the mortgage company. The homeowner give the lender a properly prepared and notarized deed, and the lender forgives the mortgage, effectively canceling the foreclosure action. This won't save your house, but it will help your chances of getting another mortgage loan in the future. This is called "Deed in Lieu of Foreclosure"
Tips & Warnings
*Contacting the lender early give you more options
*Know your mortgage rights.
*Understand foreclosure prevention options.
*Try to avoid getting a "notice of default", as your options are now limited. You will now have to pay the costs of filing the foreclosure and stop the foreclosure
*Don't lose your house to foreclosure recovery scams
*Avoid foreclosure prevention companies.
*Check with a lawyer or your mortgage company before entering into any deal involving your home
*Don't sign any papers you don't fully understand
How to Stretch Your Holiday Budget
It is now coming down to the season where we tend to a lot of spending, but with the way the economy is going more and more people are cutting back on thier spending. Here are some tips on how to budget on your spending this holiday season
Difficulty: Moderately Easy
***INSTRUCTIONS***
Things You’ll Need:
*Be a savvy shopper
*Calculator
------------------------------------
Step1
*Decide On What you going to buy* Having an idea before you go shopping really helps, therefore ahave a list of all things you will want,'not need". This will make shopping easier for you. Also you need to stick to the plan, and shop around for the best prices possilbe. Now they are a lot of discount offers out there, and coupons, so go the various stores website and see if what they have on promotion. Somethimes getting it online from the stores works out cheaper,as now most store offer free shipping.
------------------------------------
Step2
"know how much you are willing to spend" Know your limit and stick to it. If you want to spend $200 , stick to spending just the $200, as the moment you stray away from your budget you are in trouble, because you start getting things, that you think you need.
------------------------------------
Step3
"Carry Cash vs Credit Card" When you have cash you are more likely to stick to your budget. With your credit cards you are tempted to spend more.
------------------------------------
Step4
"Track spending" Keeping a track of all your spending will help you to see exactly what you purchase and how much you have left to spend. No matter what you purchase you need to write it down.
------------------------------------
Step5
"Do your shopping early" Last minute shopping is time consuming, when you shop early you have all the time to compare prices.You can see all the bargins, there are less shoppers, and the environment is more safe(because is less crowded)
Difficulty: Moderately Easy
***INSTRUCTIONS***
Things You’ll Need:
*Be a savvy shopper
*Calculator
------------------------------------
Step1
*Decide On What you going to buy* Having an idea before you go shopping really helps, therefore ahave a list of all things you will want,'not need". This will make shopping easier for you. Also you need to stick to the plan, and shop around for the best prices possilbe. Now they are a lot of discount offers out there, and coupons, so go the various stores website and see if what they have on promotion. Somethimes getting it online from the stores works out cheaper,as now most store offer free shipping.
------------------------------------
Step2
"know how much you are willing to spend" Know your limit and stick to it. If you want to spend $200 , stick to spending just the $200, as the moment you stray away from your budget you are in trouble, because you start getting things, that you think you need.
------------------------------------
Step3
"Carry Cash vs Credit Card" When you have cash you are more likely to stick to your budget. With your credit cards you are tempted to spend more.
------------------------------------
Step4
"Track spending" Keeping a track of all your spending will help you to see exactly what you purchase and how much you have left to spend. No matter what you purchase you need to write it down.
------------------------------------
Step5
"Do your shopping early" Last minute shopping is time consuming, when you shop early you have all the time to compare prices.You can see all the bargins, there are less shoppers, and the environment is more safe(because is less crowded)
How to become a millionaire
We all hope to be rich one day, but we all don't make a million dollars. With the right tools, it is not hard to achieve a million dollars overtime. Some people do it through real estate, others start their own business, while some simply get lucky by winning the lottery or winning big on a game show. Here are some tips below on to increase your wealth to a million
Step1 *Save vs. Spending*
If we take the time to save more as oppose to spend our money on unnecessary stuff we do not really want, then this is the best start to a brighter future.
No matter how small it is , we need to save a part of a salary , an average of 10% will eventually build up. For example 10% of $2000= 200 per month, which is $2400 in a year. In 10 years that is $24,000
-----------------------------------
Step2 *Retirement funds*
As young people, you need to save for retirement and one of the best way to do so is through a retirement fund. 401(k) and IRA.
For example if are 23 years and deposit $250 per month, at 8% average annual return by the time you retire at age 65 you will have saved $985,749
---------------------------------------
Step3 *Invest*
You can buy shares online for as little as $4 per share from online brokers , such as sharebuilder.
Do automatic investment by setting up a regular deposit to a mutual fund or broker. There are many ways to invest, and as long as you make wise investment decisions and let time and compound interest work for you, you will be successful.
Step1 *Save vs. Spending*
If we take the time to save more as oppose to spend our money on unnecessary stuff we do not really want, then this is the best start to a brighter future.
No matter how small it is , we need to save a part of a salary , an average of 10% will eventually build up. For example 10% of $2000= 200 per month, which is $2400 in a year. In 10 years that is $24,000
-----------------------------------
Step2 *Retirement funds*
As young people, you need to save for retirement and one of the best way to do so is through a retirement fund. 401(k) and IRA.
For example if are 23 years and deposit $250 per month, at 8% average annual return by the time you retire at age 65 you will have saved $985,749
---------------------------------------
Step3 *Invest*
You can buy shares online for as little as $4 per share from online brokers , such as sharebuilder.
Do automatic investment by setting up a regular deposit to a mutual fund or broker. There are many ways to invest, and as long as you make wise investment decisions and let time and compound interest work for you, you will be successful.
How to build credit from scratch
Having a good credit score is very important today, especially for young people. Having a good credit can help you to obtain a house or buy a car. There are many things that affects , such as late payments and paying only the minimal balances. Below you will find a few tips on how to build your credit.
Step1 * Check Your Credit*
To make sure that no one has been using your credit, you need to check your credit regularly, because of identity, and to also to see what your credit score.
There are many company that allow you to check your credit for free, such as freecreditreport.com.
Step2 * Joint Credit*
If you do not have a good credit or an established credit history , the best way to boost your credit score is to partner with someone who has a good credit. This can be done by letting the person adds you to his/her credit cards, as that person will be imported to your
credit bureau file. Make sure this person is a person who can trust and he/she has an excellent credit history, because his/her mistakes would also become yours.
Step3 *Secured credit card*
Since most people either have a bad credit or no credit history, most time it is hard to get a regular credit card, therefore obtaining secured credit card , can help. A good place to start will be a credit union if you have one. You will have to deposit money to open this type of account, and your credit limit will be based on your deposit, but eventually based on how you pay your monthly balance, your limit will increase, and convert to a regular unsecured credit card after 12 to 18 months.
Step4 *Store card*
Obtaining a store card from department stores such as Sears, Victoria Secret, can help boost your credit score. These cards don't do as much for your credit scores as a bank card.
Step1 * Check Your Credit*
To make sure that no one has been using your credit, you need to check your credit regularly, because of identity, and to also to see what your credit score.
There are many company that allow you to check your credit for free, such as freecreditreport.com.
Step2 * Joint Credit*
If you do not have a good credit or an established credit history , the best way to boost your credit score is to partner with someone who has a good credit. This can be done by letting the person adds you to his/her credit cards, as that person will be imported to your
credit bureau file. Make sure this person is a person who can trust and he/she has an excellent credit history, because his/her mistakes would also become yours.
Step3 *Secured credit card*
Since most people either have a bad credit or no credit history, most time it is hard to get a regular credit card, therefore obtaining secured credit card , can help. A good place to start will be a credit union if you have one. You will have to deposit money to open this type of account, and your credit limit will be based on your deposit, but eventually based on how you pay your monthly balance, your limit will increase, and convert to a regular unsecured credit card after 12 to 18 months.
Step4 *Store card*
Obtaining a store card from department stores such as Sears, Victoria Secret, can help boost your credit score. These cards don't do as much for your credit scores as a bank card.
