Author Archives: mimin

Best Solution To Cover Emergency Funds

Anything can happen in a split second, both good and bad things. You may have no problem to handle the good thing you get from life, but how about the bad one? Within years of life, there is time where you have to conquer emergency situations where emergency expense is essential. Nevertheless, the emergency funds can be obtained in some ways, credit card, liquid asset, and cash loan. Among others, liquid asset is the best solution to cover emergency situation. As the asset is yours, you can take it immediately. In addition, you don’t need to pay for interest rate.

 

The only problem is, the probability of people to have liquid asset is tiny. Expensive living expense decrease the capability of people to save their some part of their income. Credit card is your next solution to manage extra expense. This option is flexible, however, if you have no control of using the credit card, the bills will deter your life. Cash loan is a savior for people who can’t afford to invest their income or refuse to use credit card. Bank to help you handling the unexpected expense probably is there on your mind.

 

In some degree, banks can be your best alternative, however it is not when it comes to urgent situation. If you consider the nature of banks with high level of complexity to grant the loan application, it consumes so much time and you have no much time for the lengthy of paperwork and so on . But cash loan is different. Okay, you need first to find the right lender to assist you to revive your financial standing. In addition, you have to determine type of loan that meet to your circumstance.

 

Say that you need a short-term loan, a cash loan like payday cash loan is a great help. There is no collateral, furthermore, your credit score won’t be checked. Still, there are basic requirements to follow like your income and active employment. Learn about the terms and conditions alongside the interest rate. Find also lenders that offer you with refinancing opportunity for quick cash relief. Apply fort the loan, fill the application form, and then submit it to your lenders. The response is fast, and sometimes within minutes you already get the answer whether the loan application is approved or not.

 

If it is, the chosen lender will send you contract document where you can find interest rate, terms and conditions, and various others. You can refuse or accept the loan requirements to pick another cash loan lenders. Now, find yourself face to face with emergency situation like uncovered hospital bills, school tuition and more, you need support to prevent another problem to grow. Cash loan, however, can be your cushion or your protector in a nerve-wrecking situation. Say you have no idea about cash loan, how it works, and the type of the loans, this is the right time for you to study cash loan in order to get the best out from it.

Ten Financial Tips You Want Your Kids to Know

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Most people learn about finance the hard way through mistakes made from practical experience.  People usually aren’t taught about personal finance in school.  Moreover, parents don’t teach their children the basics either because they don’t understand it themselves, or they don’t take the time to it. So, most of us learn about money as we go through life.  We make purchases, go into debt, and end up with a meager retirement account.  CNN Money reports that 43% of workers surveyed in 2010 said that they have less than $10,000 saved for retirement.  Even with full Social Security benefits, these people will be hard pressed to maintain their pre-retirement lifestyle.  What if they had made better financial decisions earlier in their life?  Perhaps if they were told about some basic financial principles they would be in a better position?  Here are ten basic financial principles that your kids should know to avoid making simple mistakes:

Don’t spend beyond your means.  This is such a basic principle that it would not seem to be worth mentioning; however, it is the key principle to financial success.  Most financial advisors will tell you to pay yourself first by saving 6-10% of your income.  You can only do that if you spend less than you make. So the first and perhaps most important rule of financial success is not to spend beyond your means.

Save for a rainy day.  As soon as you start working, open a savings account as an emergency fund, a rainy day fund.  A rule of thumb is to have a reserve equivalent to six month’s salary in case you are out of work.  If you have an emergency like a major car repair or medical bill, you will need to replenish the fund if you pay your bills using your emergency savings account.

Pay off credit cards monthly.  It is good to have one or two credit cards so that you can establish a credit history; however, make sure to pay off the balance on or before the due date.  Credit card companies charge excessively high interest rates and fees.  If you pay your balance in full, you get to use their money without interest; however, if you are late or make a partial payment you will pay finance charges that are easily avoided.  Also, don’t take a cash advance unless it is for an emergency.  Again, they will charge you cash advance fees and if you don’t pay it off within their promotional period, they will also charge higher finance charges which makes this very expensive.

Open an IRA when you are young and make the maximum annual contribution. The time value of money works wonders when you invest over a long time horizon, bur you must start when you are young.  People who start investing in their early twenties will far outpace those who begin in their thirties or forties.  Those who start late will never catch up because they don’t benefit from the compounding effect on their investment which is also leveraged inside of a tax-deferred account like an IRA.

Fully participate in your company 401k.  If you work for a company that offers a 401k plan, make sure to participate fully, or a least to the level of the company match.  If the company has a matching grant, that is like free money.  It will quickly add to your nest egg, but you must invest or they won’t match it.  Also, just like an IRA, a 401k account is tax advantaged, so the compounding effect will be multiplied as a tax-deferred investment – meaning that you won’t pay any taxes until you withdraw the money in retirement.  Also, only borrow against your 401k plan or withdraw funds if it is an extreme emergency.  You must protect your 401k plan as a retirement plan.  If you leave your employer then roll it over into a self-directed retirement plan, but do not take the money out early to avoid penalties.  Keep your 401k for your retirement.

Buy some universal life insurance in your 20’s.  Universal life insurance is a combination policy that offers both a term life insurance plan and the benefit of a tax deferred savings account inside of the policy.  Everyone will need some life insurance, especially if they are married and have children.  Buying life insurance when you  are young, can reduce the cost of the premium investment and allow the cash value to build up in the account.  If you die unexpectedly, the proceeds will protect your family or pay for your children’s education.  If you live into retirement, you can convert the policy to an annuity to supplement your income.

Buy a house when you can afford one.  Real estate is one of the best investments over a long time horizon, even though the value of real estate has declined during the recession of 2008. Over thirty years, you will likely have an excellent return on your investment in your home, and if you have a mortgage, the interest is tax deductible from your income taxes.   When you buy a home, make sure you work with an experienced Realtor to help with the details and to advise you on making an offer.  If you don’t overpay or borrow more than you can easily afford, then a home in a nice neighborhood is a great investment in addition to a nice place to live and raise a family.

Always make sure you have health insurance.  One of the primary reasons that people go into bankruptcy is because of excessive medical expenses.  The best way to safeguard yourself is to make sure that you have health insurance for you and your family.  Hopefully, your employer will offer a good policy; however, if you are self-employed or working for an employer who doesn’t offer insurance, be sure to obtain an individual policy.  You can not risk being uninsured because the consequences are too great.

Buy good used cars.   Cars are not a good investment, but are necessary for transportation.  If you buy a late-model used car with low mileage, you will have reliable transportation, and avoid the lion’s share of the depreciation loss of a new car which happens right after you drive away from the dealer.  While many people will want the luxury of a new car, you will be far ahead in retirement if you buy good quality used cars and invest the savings in your IRA or 401k.

Get a high-deductible collision policy for your car ($500).   A $500 deductible policy is a good way for most people to balance the cost of insurance and the risk of a collision.  If you are a good driver, you will save enough on lower premiums to self-insure the higher deductible amount.   Save the difference between the cost of a high and low-deductible policy in your rainy day account so it will be there in the event of an accident.

7 Tips on Financial Planning for the Family

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Effective family financial planning is essential to have so that we do not have problems later in life or in times when our financial need exists due to certain reasons. The steps in effective financial planning can be broken into;

1. Incoming and Outgoing Expenses

We will find the financial affairs of the family becomes much easier if we can manage all the income sources and expenses in the family. For example, we need to know how many family members that are on a monthly salary, the overall family expenses ranging from mortgage and car payments, water bills, electricity, telephone, and children’s school expenses.

2. Provide Family Financial Goals

One of the most important measures to move towards financial stability is to determine our needs. In this regard, it will be helpful to determine exactly what we need in life as individuals, couple and families. These financial goals may require short-term and long term goals. However, these goals must be something in the range that we can afford, for example something that we possess within the time frame we have set.

3. Prepare Budget and Estimate Cash Flow

In reality, financial planning becomes more difficult to manage if we do not know how much income we receive each month and what we are actually spending. This information should be provided first, if we want to determine whether we have to increase our revenue or reduce expenses to achieve the financial goal that we have set. Once we list down all the income and expenditure, we can start preparing the budget and see if we have surplus funds that can contribute to our goal.

4. Dividing Income by Priority

The monthly income of an average, happy family should be spent according to priorities in which the family can live in peace and comfort. Normally, expenses for basic needs like food, beverages and clothing require 1/3 of the total monthly family income, another 1/3 for bills and gas while 1/3 more should go to savings or investments for the future.

5. Reduce Dependence on Credit Card Use

In today’s economy, the use of credit card has become a necessity for everyone especially for working adults. If credit card is used wisely, it can be very convenient to the users. However, if it is used without control, it can be a dangerous financial instrument and can lead a consumer into bankruptcy due to the high interest rates charged by the bank..

6. Make Assumptions about the Future

Change is something that presses us out of our comfort zone. As the world changes, so does the economy. When the economy changes, it can affect our finances. All these changes are difficult to avoid. Therefore, we must not only be prepared for a change but to make plans how to deal with it. For example, how to deal with the effects of inflation, rising oil prices, freight vehicle and the increase in toll charges. All these will certainly affect our financial situation.

7. Financial Strategy

For every financial goal that we prepare, we must have a strategy on how to achieve those goals. For example, if we intend to buy a house a year from now, we need to know how much we should provide as a down payment and what resources we can use.

Helpful Financial Tips for New Parents

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It is the most exciting time in your life when you have a new child in the family. This time is also the start of an expensive journey. You can easily spend $250,000 or more raising your child until they turn 18. You need to make smart financial choices from the very beginning to ensure financial stability for your family.

Create a Budget

You need to create a household budget. Before your baby is born, determine how much you will need to spend each month on diapers, baby food and related expenses. Add a few extra dollars each month to your estimate since babies have a lot of needs. Include your estimated expenses into your budget.

As you are creating your budget, determine if there are any expenses you can cut out. Perhaps you can give up that daily coffee or settle for a cell phone plan with less frills. Now is the time to cut down on some of your unnecessary expenses. Once you create your budget, do everything you can to stick with it!

Pay Down on Debt

If you are planning to start a family in the near future, you should start to pay down on some of your debt. Work hard to pay down on your (or your spouse’s) student loan debts. Try to pay off credit cards and other revolving debt. If you have already started your new family, pay more than the minimum payments on this type of debt (add these payments to your budget to help ensure they can be afforded).

Plan for the Future

You are probably not thinking about retirement when you are just starting out in life. It is the last thing on your mind when you have a new baby in the family. However, you should not neglect your retirement fund. It is important to still work to place at least 1/10 of your income in your retirement fund.

Open a college account for your child. It is never to early to start saving money for college. Shop around for college account options in your state that provide you with tax saving benefits. Consider asking relatives and friends to make contributions to your child’s college fund rather than buying them gifts.

Buy Insurance

It is important for you and your spouse to have life insurance. This is not something you want to think about when you are starting a new family, but you should. You will want to make sure that your spouse and children would be in a good position if something where to happen to you. It is also a good idea for you both to purchase disability insurance in case someone becomes sick or injured and is not able to work for a while.

Plan to live within your means

Plan to always live within your means. Do not buy your child the most expensive toys and baby items. Chances are that they will do just fine with moderately priced items. Do not take your family on vacation if it is something you really cannot afford. Wait to buy your dream house until you are in the most ideal position. Do not buy a house or a car if you will be stretching your paycheck to the limit to keep up with those payments.

Financial Tips Before Divorce

Divorce is not a fun process, but sometimes a necessary one. To some, thinking of money concerns after divorce are obvious, to others a small worry, and to many not even considered. This article can help you plan financially before your divorce begins.

Before Divorce
Unfortunately, though it’s legally required, child support is paid about half the time, and half of that is full payment. You or your spouse need to understand the children come first, no matter the reasons for the divorce. If you have custody of the children, come to an agreement with your spouse. If you are paying the child support, make sure it’s paid in full.

Now, before you start breaking away from your spouse, you should also be aware of your property rights. Just like child support, it’s not always considered. If you ignore the division of property, it can cost you a lot of money and assets you have rights to. Because state laws are different on how to handle the division of property, you should contact an attorney.

Here’s another important financial tip: you have more than property – you also have credit cards and bank accounts. Close all your joint accounts, get your own checking account, and also get your own credit cards. While it doesn’t always happen, it can be a nightmare if your spouse charges up your joint accounts. In order to be sure you find them all – as you might have other accounts such as store credit cards – you can get your credit report.

What assets do you have?
Also be aware of all your assets. This includes your house, properties, and cars, but also retirement packages, stocks, tax refunds, loans, artwork, and many other items you bought together.

Hiring a Divorce Lawyer
While your divorce lawyer is essential in making sure your rights are protected, you may also want to hire a financial planner to go over all your assets and incomes. Sometimes you may even want to get a mediator instead of going to divorce court and fighting it out. If you go to court with many disagreements with your spouse, it can cost you plenty of money, not to mention create some headaches.

Be Ready
It’s a misconception often that the wife always gets the kids, or that the husband will make more money. These are slowly changing. However, it’s not uncommon for one spouse to manage most of the finances, if not be the only one who works full-time. You should protect yourself in either case, making sure your agreements for property, bank accounts, and credit lines are changed. You need to protect yourself from your spouse’s debts and hurting your own credit report.

How to Make the Law Work For Your Credit Repair Situation

Are you surprised to discover that there are legal provisions relating to credit repair? Well, credit bureaus and credit reference organizations perform a very important function in the economy today. Hence, it is obvious that these entities shall be regulated properly.

Hence, always search for bad credit tips that will help you know more about the law and how you can use the law to improve your credit rating as early as possible. A very useful bad credit tip is to go through the various laws. You can easily get a copy of the act on the World Wide Web.

There are four laws in all that relate to credit and credit repair solutions. The fair credit reporting act places a responsibility on the credit bureaus to report the information accurately. This is a very important law that helps you overcome negative points very easily. The law places the responsibility of verifying the information on the credit bureaus.

If the bureaus and the lenders are not in a position to justify the inclusion of a particular point, it must be removed. This means that mere destruction of records or even the bankruptcy of the lender is sufficient justification to remove the information. This is a great tool in the hands of the ordinary credit card holder.

The credit bureau will have 30 days to verify the information once dispute has been raised. Needless to say, this is a very useful tool that is helping hundreds and thousands of individuals take advantage of credit repair situations.

Further, there are regulations that prohibit credit card issuers and lenders from specifying disputed information in a negative manner. If you are disputing a charge with your credit card company, the same cannot be shown as due or pending. Even though it is unpaid, the fact that it is disputed makes a huge difference.

If you want many more bad credit tips relating to the legal process and how you can take advantage of the same, you should log onto the World Wide Web. Another useful option is to make use of credit repair organizations.

Once you contact these professionals, you just have to sit back and watch them of give you bad credit tips and give you best solutions to overcome your financial problems. Of course, there are laws governing these organizations as well. Make sure you go through these points before you take a final choice.

Raise Your Credit in a Month by Following These 3 Tips

Are you of the opinion that bringing your debts under control or making repayments regularly will boost your credit score only after years? Definitely not. This is one of the most significant parameter that is used to determine your credit score.

Hence, if you are in a position to repay your debts on time, it will certainly have a huge impact on your credit score. Hence, make sure you keep this bad credit tip in mind at all times. Regular repayment of debt and keeping the total debt amount under control-these two tips will help you a lot.

Simultaneously, you should get a copy of your credit report and go through the same. This is where most of us make the mistake of ignoring professional advice. Just as you would contact a tax professional for any notice received from the internal revenue service, you should contact a professional credit repair experts for any information that you have received from the credit bureaus.

The credit report, once studied, should clearly point out the various areas where disputes can be raised. This is an important point because disputed items shall be removed in a span of a month and this will boost your credit score. This is your second tip. Give sufficient importance to disputes and make sure you understand their dispute filing system properly.

Thirdly, you should undertake some transactions that are designed primarily to boost your credit score. For example, going in for loan, not spending the same and using the loan money to repay the loan along with interest is one smart move to boost your credit score.

While this option is often utilized by those who have filed for bankruptcy or those who have a settlement on their credit report, it can also be used if you can afford low interest loans. You will have to bear the interest cost but that is a small price to pay for the fantastic boost that your credit report will enjoy.

These three bad credit tips will definitely help you see an improvement in your credit score in a span of a single month. However, you should never be satisfied with small rises.

Rather, you should go in for concerted effort that will help you boost your score and retain your credibility in the market for a long time in the future. These 3 tips will definitely help you manage the task better.

Simple Credit Tips For Students

There is no question that having a good credit record is more significant these days than ever before. We may be aware of it or not, but the truth is that most of the financial aspects in our lives are very much dependent on our credit scores. As students in need of taking student loans, there are several credit tips for students that will make it easier to maintain a clear credit background.

-Open checking or savings accounts.

If you wish to start a credit record the right way, it is best to initially have your own checking or savings account. This will prove to be very beneficial and useful in the end. You then had better get yourself a student credit card. But make no mistake about it; you are not supposed to use your credit card to enjoy spending. You will be using your credit card only on things that are necessary. One of the best credit tips for students that you will find everywhere is to let your credit value and reliability increase through the help of the transactions you make every day.

-Never get multiple credit cards.

You are a student and you should realize the fact that there isn’t so much need for you to spend so much money. If you have one credit card and you use it to buy only the things you need, then that should be enough. While the credit limit of a student credit card is rather low, you can certainly get higher limits as you consistently pay off your dues on time. This is always one of the credit tips for students because it has been proven many times that letting a student have more than one credit cards leads to future credit and financial problems.

-Set your budget and stick to it.

This is definitely among the most challenging and vital credit tips for students, because it would need you to have self-discipline to be able to maintain this. Have a list of all your expenses in a month, putting the most important expenditure first. This will remind you of what you need to prioritize when it comes to budgeting. Make sure also that you do not spend money on things not included on the list.

-Be a responsible payer.

Always make it a point to pay all your credit card debt on time. Try to develop the attitude and habit of gaining satisfaction from paying your debts. It doesn’t matter whether you are a day or a month late in paying your dues, as either case will definitely affect your credit record negatively. Paying your bills on time will also increase your chances of being granted higher credit limits, which is a good result of following these credit tips for students.

-Regularly check your credit reports.

Although you are just a student and you don’t have a significant credit history yet, you are still a potential victim of identity theft. See to it that nothing strange is taking place in your credit record by checking on even one of the credit bureaus every once in a while.

Financial Tips Before Buying a New Home

Tax breaks and having a tangible investment are only some of the incentives attributed to purchasing your own home. There are plenty of reasons to choose buying a new home over renting. After you’ve decided that buying a new home is the right plan for your life, here are some things to consider before launching this grand investment.

Whether or not you can afford a house is an important factor to consider. Several first time home buyers must take into account how much of a down payment can be made on the house as well as how much of a loan he or she can be approved for. This applies to you as well as it is an extremely common conundrum. Your investment in a home should never exceed 28% of your annual income, and this investment doesn’t just include the house itself. This also includes property taxes, insurance, mortgage payments, agency costs, etc. That being said, you should really evaluate your financial situation before signing any sort of contract when buying a new home.

Coinciding with an evaluation of your finances is an assessment of your overall debts before buying a new home. Eliminating credit card debt, paying off that new car, and sizing down your student loan will help when saving for your down payment. High interest debts can build a wall between you and your dream home, so knock it down while you still can. Investing in something substantial like a new home can hurt you financially if you have increasing debts behind you.

7 Tips To Save Money on Marketing a Business

The most effective marketing methods such as advertising in newspapers, popular magazines, on TV are very expensive for small businesses, especially for most start-ups.

Thanks to Internet, in the recent years, some very powerful, and cost-effective, even free marketing strategies have become popular.

Here are some tips to help you save money on marketing your business without sacrificing quality or results. In fact, some of them are very affective to boost your business cost effectively and fast. Implement them repeatedly and save a lot of money and time while attracting hundreds of thousands of more visitors to your website.

1. Link Exchanges

To exchange links with other Web sites is the most popular marketing strategy used by travel and tourism related businesses. Link exchanges help increase link popularity, and the chances to get higher search engine placements and ranks.

In addition, you will have higher chances to be seen by more surfers, to attract more visitors to your Web site, which will highly increase your sales, and return on investment (ROI).

To find the Web sites which are willing to reciprocate links, without the risk of spamming anyone, go to a major search engine such as Yahoo!, Google, MSN, and write in the search bar, “Travel & Tourism Link Exchanges” or, “Travel & Tourism Reciprocal Links”.

The Web sites listed in the first 20 in these sections will provide you with the high quality link exchange resources. To exchange links with these higher ranked Web sites will also help your Web sites get higher ranks.

2. Directories

It is a good strategy to submit your Web site to Travel & Tourism Directories. Because directories have a lot of surfers and visitors who are trying to find the travel and tourism related businesses who offer the best deals to match their needs.

You can reach millions of targeted prospective buyers among these directories’ visitors who might be your loyal customers later on. So, you should not underestimate the power of Directory marketing, and start to submit your Web site to the Travel & Tourism Directories as soon as possible. They will help you promote your business affectively, and mostly for FREE.

You can also find important marketing tips and resources in Directories to grow your business fast.

3. Pictures & Photographs

Images are vital elements to attract readers’ attention to your ads, to your articles & press releases, to your Web sites. Make sure you use charming photos everywhere you can.

How and where to get such charming photos? Always keep in mind that almost all photos and images you can find on the Internet have Copy Rights, which means it’s illegal to use them, so you should never re-publish them without the written permission of the original owners. Or, you will have to pay big amounts of money to settle the possible sues.

You can buy photos online if you find the ones you would like to use. But, the prices of real nice photos are high.

The best cost-effective solution is to take photos yourself, which will also give you the freedom to choose the places, angles, lights, and colors before taking the pictures to your heart’s content.

When taking photographs, try to get as many shots in as possible. Then you would not need to pay other photographers to purchase photos to use in your websites, articles, press releases, and advertisements.

To take photographs yourself will save you a lot of money. If you have a library of images for your advertising needs, you will not only save tremendous amount of money, but save a lot of time, too. You can use them in your brochures, articles, press releases, as well as in your websites, and in your advertisements whenever you need..

4. Try to do What You can Yourself

You can, of course, hire experts to design your website, for writing press releases, articles, copy writing, advertising, photography, professionally.

But, you can do them, at least some of them, yourself when you want to save money. You will then spend money only for tasks that really need the expertise of a professional.

Keeping this in mind, we have provided information in the ‘Grow Your Business Fast’ program, on how to write a successful article yourself, how to write press releases in a traditional news story format, that will look real professional, how to market your products, services, informational material, affiliate programs to become a marketing champion in a few months very cost effectively, saving a lot of money.

5. Articles

When you write an article you can send it out yourself, or send it to a free or pro article distributor who will disseminate it to newsletters, e-zines, magazines, local and national newspapers, websites; follow it up and see if it was published in any of these publications. If it was, you can be sure that it covers certain required values.

Then you can use your ‘accepted & published’ article, or at least parts of it, in your website, in your sales letters, in your advertisements, you can even write it in the traditional news story format, and send it to a press release distributor to be sent out to media outlets.

6. Press-Releases

The best way to send your press releases out, is to submit it to a free or pro press release distributor. If you select a good one, they would send your press release to the media outlets where you would get the best results.

Some of them are experts who know how to do it, depending on their own experiences. If you choose a pro distributor, your chances to get outstanding results would be higher.

Your press release(s) that an editor wrote a news on and published in a popular publication would attract a lot of visitors to your Web site, eventually increases your sales tremendously; also it would be a good sample for you to use the same values in your future press releases.

7. Your Ads

You can implement the same strategies explained in #3 above, for your ads, too. Watch closely which of your ads generated more traffic and sales. Then, use them at your website, in your newsletter, other related newsletters, use the most powerful lines in your signature file, in your classified ads, in the safe mailing lists, e-zines, in your solo ads … everywhere possible, over and over again. Get the same positive results repeatedly.