Entries from April 2011 ↓
April 28th, 2011 — Debt Consolidation
Everyone is looking for quick ways to make money legally. Money is most needed for bills, home mortgages, car repairs, medical bills, groceries, fuel, and job hunting. Times are tough and a person must be creative in order to survive this financial world. There are several ways to make money from an online business or source.
If you are an artist of any kind or a collector of past history art work, there are several art sites that will host your creations for a very low per item cost. Sometimes the cost is as low as .80 per item for a three month listing. It is easy to do by creating your own store front. The sites will walk you through each step to set up your store for the best results. You are coached on selection of price, mailing cost, shipping parcels, location, and scams. Read everything the site offers for great profits and protection.
You can list items one per sale or you can list a group of items to be sold in one bunch. Read the guidelines for what can and cannot be listed. Art comes in almost any form and you can make money from nearly all of it. If you are a photographer, pictures mounted on soft backing and slipped inside of a plastic sleeve can be sold ready to frame. Pictures can be turned into greeting cards, calendars, and tee shirt prints. Use pictures in a grouping of a foreground of a larger piece for a unique room décor design or theme.
If you are into collecting, gather old pictures from magazine covers, old antique photos and others to set in a frame and sell as a collectable. These make great pictures for bathrooms, kitchens, and children’s rooms and offices. Old photos can be used as the center piece of a larger wall hanging creation that will become an ice breaker at any gathering or event. Use your own creative sense for fun and for profit quickly.
April 27th, 2011 — Debt Consolidation
The best way to pay off student loans quickly is to consider how the total loan can be reduced. One method considers interest rates. The other method involves working for specific programs or agencies, which may also reduce the total owed by thousands.
Many people who finish their college educations find themselves with multiple loans, from different institutions or guarantors. Consolidation allows all sources to be combined. By itself, this does not reduce the amount owed. However, consolidation often allows the borrower to take advantage of a much lower interest rate which can help you pay off student loans quickly.
Even years after graduation, it is wise to check on rates from time to time. Any time the interest rate can be lowered, the borrower will benefit. The total can be paid at the same amount, while paying off the balance will happen much faster. If a consolidation at a lower rate is not possible, a borrower can also opt to make larger payments than what is required. The amount over the monthly payment that is added is up to the borrower, as the budget will determine how much more can be paid.
Reducing the amount owed can also occur before one graduates. Students can opt to pay interest only, on their unsubsidized amounts. Doing so will keep interest from accruing during the months attending college. At the time of graduation, the amount owed will be less than if interest payments were not made on the student loans.
There are many organizations that the federal government recognizes as high need areas. Working for one of those programs usually has some benefits, in terms of reducing the amount owed, even if they do not pay so well. Americorps, Teach for America and many others take professional health care workers, teachers and others, who want to make a difference in under-served communities. In return, borrowers may reduce what they owe by up to $4,000 per year served. If the borrower is able to make payments at the same time, there will be a much lower balance at the end of the employment commitment.
April 26th, 2011 — Debt Consolidation
Whilst the number of credit cards available in the market is greatly reduced from a few years ago there are still some good offers around for holidaymakers to take advantage of this summer.
Economic times are hard and showing little sign of recovery. Whilst sensible to make the most of any tax efficient savings products such as ISA’s read more here, it is also sensible to make sure that any borrowings are on the best possible terms.
Getting protection from cancellation or failed travel companies is as important today as it has ever been. With several high profile travel organizations going under it is important to book travel using a credit card. But that doesn’t mean paying high interest charges before you travel. There are a number of 0% interest cards available with free credit periods of up to 6 months and even 9 months for those eligible. Careful selection can also get a card where no foreign currency fee is charged meaning savings every time you use them on purchases abroad over conventional credit cards.
But the best current deal has a 15 month interest free period on purchases with the additional benefit of no fees on purchasing travel money. Additional benefits also accrue so look out for deals.
Having booked your holiday using one of the cards above to allow maximum time to repay the cost, ensuring you pay as little as possible whilst on holiday also makes sense!
Whist some providers offer no foreign purchase fee, others provide valuable add ons such as family travel insurance for free. Although there may be no free period for payment those that repay the full amount each month may find the travel insurance a very cost effective add on. Borrowings are charged at 20.1% making it one of the more expensive options so is really ideal for those that pay off the full balance at the end of each month.
Increasingly popular options for managing holiday cash are prepaid card options. These are a great way to manage spending on holiday and are more flexible and safer than traveler’s checks and can be cheaper than credit cards.
With competition keen for prepaid cards, many providers run promotional offers and incentives that can make a real difference to the amount or foreign currency you can buy. If loaded with more that £500, for example, one provider will deliver the card free to your home address, use competitive exchange rates and charge no foreign currency fees. Other suppliers have other incentives such as cash back for minimum top ups. Some charge no application fee provided the minimum amount exceeds $20 or €10. Withdrawal fees from overseas ATM’s can be as low as just £1, €1.50 or $2 depending on currency.
This article was written by Sam, a finance writer based in the UK. Sam currently works for moneysupermarket.com .
Visit Sam’s twitter here.
April 24th, 2011 — Debt Consolidation
There are a number of places that will provide auto loans for people with bad credit. A person that has bad credit may have to pay more than a person with good or average credit, but he or she can get a loan just the same. A person who is looking for a bad credit car loan has several options that he or she can consider.
One way to get a bad credit car loan is to put up collateral. It could be the car itself or it could be something else equally valuable. However, before putting up collateral for a car loan, it is important to read the fine print on the contract carefully and make sure the loan can be paid on time and in full. If the loan is not paid on time, the collateral is forfeit to the lender.
Another way to get a bad credit car loan is to make a down payment. It may take a bit of time to save enough money for such a payment, but it can be worth a person’s while. Placing a down payment on a bad credit loan shows the lender that the borrower is serious about paying the loan back. A down payment can also reduce the interest rates on a bad credit car loan.
The type of car that is being purchased will also determine whether or not a person can get a bad credit loan. A person with poor credit should in fact focus on repairing the credit, not on buying an expensive car. Choose a fairly cheap yet well made car. This type of car is easier to get a loan for.
Getting a bad credit car loan is not impossible. However, a person should have a plan for paying such a loan back. One should consider the options carefully and read the contract in full before signing it.
April 21st, 2011 — Debt Consolidation
Experts say that payday loans create more problems than they solve. You should look for other alternatives to it if you are in dire need of money. They are one of the most expensive loans today and people who take them out often have a very hard time paying it back. They are notorious in the loan world. If you somebody says “I need 3000 dollars right now”, you should look for other sources of the money. Payday loans have such a bad reputation that they are prohibited from 19 states. There are no payday loans in Georgia, as well as other states in America.
According to the consumer Federation of America, today, there are 22,000 storefront payday loan stores nationwide. They offer loans to people who have a steady job with at least a thousand dollars in monthly salary and US citizenship. But, getting a payday loan may not be a smart financial move as experts are quick to point out. Fortunately, there are other options which you can select when you need money.
One of the best alternatives to payday loans is credit union loans. Credit unions can be found in your local area. Members of the union can borrow up to $500 every month which they need to pay monthly using funds from their next paycheck. Loans are connected to SALO cash accounts which deduct 5% of the loan and put it on the savings account. The saving account is intended as a “rainy day fund” for members of the union.
There are also small bank loans which you can apply for. There are small bank loans of up to a thousand dollars which have interest capped at 36%. They can be paid beyond a single paycheck cycle. There is already a good number of banks which offer small consumer loans.
Credit counseling help is also something which people can try. There are various counseling services which offer free money management help. This will help lessen the risk of getting a payday loan.
April 21st, 2011 — Debt Consolidation
Perhaps, one of the biggest myths about obtaining FHA loans is that if you are self-employed, you are automatically disqualified. Being self employed doesn’t mean you are not qualified to apply for a FHA loan, although the process is much tougher. The main reason why FHA loans for self employed individuals are hard to obtain is due to the failure of keeping good records. Even if you are operating a successful small business but if you can’t show the lender documents that would verify your current income, then it would be difficult for them to consider you as a good risk. After all, financial institutions offering FHA loans for self employed individuals are just looking after themselves hence why applying for one can really be strenuous.
It is critical that you will be able to show in your FHA home loan application that you are earning enough to pay for the loan you are applying for. In this case, you have to provide a profit-loss statement as well as other documentations that would give the lender a clear idea about your current finances. If you are not someone who keeps good records of legitimate businesses or if your tax return is not in order, then your application will likely get rejected. Knowing this, those who are planning to apply for FHA home loans for the self employed individuals must really think things through and take as much time needed to make the right decision.
Unlike obtaining payday loans for self-employed, getting self employed mortgage loans is a bit tricky. Before you even decide to apply for FHA loans for self employed, you have to first prepare all the required documentations. For some, average preparation time would be no lesser than a year. During this time, you have to deal with issues pertaining to your credit report. If you need a credit repair, then accomplish this as soon as possible. The best way to boost your chance of getting approved is by showing the lender that you have a reliable and steady income for the past two years. Doing so will surely be favorable to you as a good credit score will likely be the key for you to obtain the best home loans for self employed individuals.