Moneycontrol.me: Blog Moneycontrol.me: Blog http://www.moneycontrol.me/blog/ Copyright by Moneycontrol.me en Moneycontrol.me Fri, 15 Dec 2017 20:16:59 -0500 6 Terrible Mistakes When Getting Personal Loans

In the cases of unpreventable personal emergencies like replacing important items during a natural disaster, necessary house repair, or other sudden large expenses, a personal loan can be a lifesaver. Personal loans are one of many types of loans you can borrow from a bank. These loans are typically general purpose loans that you can use at your discretion for things like consolidating debt or paying for an unexpected expense or small home improvement project. Personal loans are often more difficult to get and have strict qualification requirements.

It is important to review the basics of personal loans first. There are two types of personal loans, unsecured and secured. A secured loan is a loan that is backed by an asset as collateral (home or car). If you default on the loan, the lender can take the asset. A secured loan typically offers lower interest rates and better overall loan terms. Unsecured loans have no collateral, however, if a default occurs the bank can take legal action in hopes to recoup the money. Due to the fact that these type of loans tend to be riskier, they have higher interest rates and often poor loan terms. Both types of loans are taken out for a set period of time and have a fixed monthly repayment schedule.

Availing a personal loan is a huge commitment, one which requires dedication from our sides. While we might think that a personal loan is an answer to all our questions, there are certain aspects which should be considered, for a personal loan, like any other product, comes with a set of positives and negatives attached with it. If you're thinking about borrowing a personal loan, here are 6 terrible mistakes that you need to know so you can avoid them.

Incomplete Requirements

Every day, lenders process a lot of loan applications. Missing out one or two important requirements will most probably end up with your loan not being processed. They could even put it in a “To Follow Up” file, which they will check once they are done with other applications.

What to do: Before you submit your application, check the lender’s website or call their hotline and ask for the requirements needed. This will help facilitate your application faster.

Good News: Loan Ranger only needs a valid government ID, proof of income, and Facebook account if you wish to apply.

Wrong information

Never take your loan for granted. Lenders use it to know you better and assess whether you are worthy of credit. Consequently, they need to know if you are being honest. Otherwise, incomplete or wrongful disclosure could lead to court cases for fraud, specifically identity theft and you don’t want that to happen.

What to do: Be honest in your application form, from the address, and even your mobile number. Disclose your monthly income too, or else you’ll have a headache worrying about how to pay your $ 2, 000 loan when you only earn less than that.

Skip to Compare Lenders

There are plenty of lenders that could help you finance your needs. Still, each lender has higher or lower rates compared to the others. Some may even charge fees like processing fee while others waive it. There are even lenders with bad reviews.

What to do: Compare then decide. Put a little effort to get to know the lenders available within your area, ask about their loan terms and fees, and then decide which lender is the best fit for your needs. This could help you save a lot in the long run because you are able to choose a lender wisely.

Not Considering Your Credit Score

Credit Score is among the biggest factors lenders look into when you apply for a loan. Aside from your capacity to pay, they also want to make sure that you have a good relationship with other lenders and that you are also a responsible borrower. Even if you have a bad credit score, some lenders may lend you money, but with a higher interest rate.

What to do: Make a conscious effort to pay your financial obligations on time and if you can, in full. Consider your credit score before you send your loan application. The better your score is, the higher the possibility of loan approval.  

Demand More than What You Need

There is a reason why lenders ask proof of income as part of the requirements. They need to know how much you are earning so that they can lend you money that is within your capacity to pay. Apparently, there are many who apply for a loan that is more than what they are earning, which leads to outright rejection.

What to do: Borrow money that is within your capacity to pay. Take your budget into account before you place any amount on your application. Ideally, the monthly payment should not be more than 15% of your monthly salary to avoid you from burying in debt.

Now that you know, make sure to avoid these common mistakes. After all, loan rejection will reflect on your credit score as well. It may be easier to get a personal loan from a bank you already have an account with. The bank will probably want to know what you're going to use the money for and may even have a better loan for your needs. As with any other loan, it's important to choose personal loans wisely and only borrow what you can afford to repay.

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Uncategorized http://www.moneycontrol.me/blog/6-terrible-mistakes-when-getting-personal-loans-28/ http://www.moneycontrol.me/blog/6-terrible-mistakes-when-getting-personal-loans-28/ Editor Thu, 23 Nov 2017 09:41:53 -0500
Planning for the future with prepaid funeral plans Planning helps you to meet many of life’s major events. With a plan in place, you may rest easier in the knowledge that arrangements have been made for them to proceed smoothly and in a way that suits you.

Although it might involve some of the more difficult and more anxious decisions, planning ahead for your funeral is also likely to give you that same peace of mind. Making your own plans for your funeral saves family and loved ones the anxiety of deciding whatever it is you might have wanted and what might be the most fitting and suitable ceremony.

Planning ahead for your funeral may also save them a good deal of money – and here’s how.

Who is going to pay for your funeral?

Citizens’ Advice explains that whoever arranges a funeral is the person who becomes responsible for paying the bill – to the funeral directors and for any additional services such as flowers, memorial stones, and reception, for example.

Prepaid funeral plans, however, provide you a way of planning for the future that avoids leaving your relatives and loved ones with that bill.

But prepaid funeral plans do much more than that – they also let you pay at today’s prices for a funeral that may not take place until many years from now, so avoiding the more or less inevitable escalation likely to be seen as a result of inflation.

In the past decade, funeral costs have risen by as much as 70% – much more than the underlying rate of inflation in practically any other cost of living – to a current average of £4,078, reported the Metro newspaper on the 13th of September 2017.

What does the prepayment cover?

This depends entirely on the funeral plan you choose – and also reflects the quite wide variations in average funeral costs from one part of the country to another.

Nevertheless, a prepaid funeral plan typically guarantees to cover all the normal costs generally charged by funeral directors – namely, transport of the deceased to the funeral home, care and preparation of the body, the provision of a coffin, a hearse to the burial or cremation site and attendance by the funeral directors at the funeral ceremony.

Additional elements of the ceremony, such as floral tributes, cars for mourners, memorial stones, and a reception or wake, you or your relatives might want to arrange separately.

Whatever type of funeral plan you choose, however, it is important to understand carefully and in detail precisely what costs are going to be covered when the time comes.

In the meantime, any national prepaid funeral plan provider which is registered with the Funeral Planning Authority (FPA) undertakes to safeguard the monies you have paid in advance by placing them in a separate, independent trust fund or using the proceeds to purchase a whole of life insurance policy in your name, which pays out the sum you need for the funeral you have chosen.

If you are planning for the future, with an eye to keeping all your affairs in order, a prepaid funeral plan may give you security and peace of mind in knowing that your final wishes and arrangements have already been put in hand.

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Uncategorized http://www.moneycontrol.me/blog/planning-for-the-future-with-prepaid-funeral-plans-27/ http://www.moneycontrol.me/blog/planning-for-the-future-with-prepaid-funeral-plans-27/ Editor Mon, 20 Nov 2017 21:45:24 -0500
Investing Strategies For Millennials There has never been a better time to be an investor. Millennials are fortunate to have access to research, tools, and opportunities that weren’t around for past generations. But the most important thing a millennial can do when they decide they are ready to start investing is get a clear game plan together.

Having a strategy is always the first step. Find a place online that offers investing strategies for millennials and start educating yourself. You may not know what the best strategy is for you at the current time but it’s important you start learning what is out there so you can make a decision.

In this post we will break down a few of the most popular investment strategies that millennials have available to them. These are our personal opinions and are for information purposes only. It is not intended to be investment advice. You should hire a professional if you have questions regarding your specific situation.

Okay with that out of the way we can talk strategy.

Buying stocks for the long term

One of the more popular ways to get into investing is buying stocks. As a millennials you should try and find companies with a solid track record and the potential to earn more money. Investing in them at a young age and holding on to them will ensure you are able to grow your investment.

Try and stay clear of stocks that are speculative or have wild swings in the market. These can be a great way to make short term money but you must understand financial markets in order to reap the benefits.

To start, find a company you believe in and do a little research. Google the company followed by stock and see what other investors are saying about it.

To get started with buying stocks you can consider an app like Robinhood. If you are interested, here is a little more information about Robinhood app review.

Investing in real estate

Some of the country’s wealthiest people got so by investing in either the stock market or real estate. Real estate investing is a good way to build a portfolio that will be worth a lot of money later in life.

Generally speaking, real estate investing involves finding houses for a good price and renting them out to tenants.

There are a lot of other ways to make money in real estate but for millennials you should focus on ways to build wealth slowly over time. It’s okay to have some risk but you are focusing on the future.

Real estate has some amazing tax benefits in the United States and has the ability to cash flow. That means you receive monthly payments above your mortgage payment.

But to start in real estate it starts with education and execution. If you can find a mentor or someone who is willing to talk with you about real estate that is a great way to learn an investing strategy that they use and see if it makes sense for you to use as well. There are a lot of blogs out there that talk about real estate investing. Find one that explains things clearly and start reading.

Your company 401k as an investment strategy

Maybe the idea of investing and worrying about your future isn’t something you want to think about. That’s okay. You can contribute to a 401k that your company offers and a financial professional will make sure your money is invested in things that will return more money to you later in life.

If your company offers a match, meaning they will also contribute to your 401k that is essentially free money and worthwhile to take them up on.

A lot of Americans use a 401k as their primary way of saving for retirement. In fact, according to a Bloomberg study nearly ⅔ of Americans are putting money into their 401ks.

This is a great strategy for a millennial who knows they need to invest but doesn’t have time to research different stocks and bonds.

Millennials must have a strategy

We have covered 3 of the most popular investment strategies available. Early I said that millennials have access to tools and opportunities past generations did not have. What I mean by that is millennials can easily research different stocks in real time, read blogs from some of the world's biggest investors, and use complicated investing software that didn’t exist 30 years ago.

There has never been a better time to take control of your financial future as a millennial. But the first step is having a strategy. It could be buying stocks and real estate. It doesn’t have to be one or the other. It could be that you want to own real estate because you earn a lot of income and need some tax write-offs.

It really comes down to your unique investing criteria. Having a plan will make sure you don’t spend time sitting on the sideline when you could have money in the markets working for you.

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Uncategorized http://www.moneycontrol.me/blog/investing-strategies-for-millennials-26/ http://www.moneycontrol.me/blog/investing-strategies-for-millennials-26/ Editor Mon, 13 Nov 2017 22:12:57 -0500
Earn Your Way To Financial Freedom in Chat Rooms The beginning stages of a day trader’s career almost always start in chat rooms. Or some variation of a chat room. Many would-be traders browse Reddit or Digg for forums on forex trading or day trading, hoping to pick up some tips that will allow them to ride the lightning to instant riches. But they find out very quickly how complicated the world of day trader really is.

So they turn to chat rooms at educational day trading sites. There are online gathering placers where you can interact with people just like you, who are looking to get an edge in the day trading world. And where you can watch the livestreamed desktop of the veteran trader that will take your through their positions for the day, teaching the ins and outs of momentum trading strategies. They are great jumping off points for the journey to profitability. You can learn the lingo of traders that you would never have encountered in other mediums. And learn to parse the language and the techniques quickly.

Being quick is the name of the game. You need to be quick and smart if you are going to find the hot stocks and pounce on them early in the day. One of the other aspects of chat rooms is the ability to trade daily watch lists with other traders and figure out which of the gappers the night before is ready to go off. Many home run trades are planned and executed with the help of chat rooms.

Of course, chat rooms are just the beginning. What you need to do after spending time in chat rooms is take online video courses that detail strategies for picking stocks and executing trades in a way that will protect you from big losses. Risk management is such an essential part of day trading. You cannot lose too much on any one trade because your target profit/loss ratio of 2:1 would be in serious jeopardy. Having a serious plan for each and every trade is one of the cardinal rules of making it out on the open market.

To practice those trades, you need a paper trading simulator. Trading virtual currency in a simulated online brokerage accounts while hanging out in chat rooms is a great way to get used to the mechanics of trading. And you have the space to make mistakes that you cannot make in the real world. You won’t lose any of your actual cash. You will just have wounded pride and a valuable lesson in how to eliminate risk in your day trading life.

Banging out the corporate life in a gray, drab cubicle is not the life that you imagined growing up. By starting out in day trading chat rooms, educating yourself on winning strategies and practicing until you are profitable, you will give yourself the chance to get out of the rat race and really gain financial freedom. That is the life that you deserve. So start day trading today and go out and earn it!

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Uncategorized http://www.moneycontrol.me/blog/earn-your-way-to-financial-freedom-in-chat-rooms-25/ http://www.moneycontrol.me/blog/earn-your-way-to-financial-freedom-in-chat-rooms-25/ Editor Sat, 14 Oct 2017 22:19:36 -0400
Important Questions to Ask Before Getting a Personal Loan

Between all the financial alternatives you can consider, a Personal Loan is the deadliest. Make use of personal loans appropriately and they may very well be the ladder out of your economic ditch. Make use of them wrong and it’s like attempting to put out a house fire with gasoline. Here, we’ll take a look at some of the most important factors before taking a personal loan:

Personal Loans vs. Other Loans

Personal loans are generally not secured with high-interest rates, which make them just like credit cards. Nevertheless, the loan tenure can last for a couple of years: 3 to 5 year loans are not unusual especially for education and renovation. Interest rates for personal loans differ greatly accordingly with the loan’s tenure and quantum.

Personal loans are unspecific. Unlike auto loans or educational plans, the bank simply lends you the amount, without verifying what you desire it for.

Direct Finance Loans suggests that prior to getting a personal loan, consider the following:

  • Would a different type of loan be cheaper?
  • Are you spending or investing the money?
  • Will you be over-leveraged for other loans?
  • Do some other banks give better rates / benefits?
  • Are there better options?

Would a different type of loan be cheaper?

Bank robbery appears so negative. Let’s simply refer to it as indefinite loan tenure.

There’s a good reason why we have loans that are fit for a specific purpose; e.g., . Without a doubt, it is possible to get a personal loan to purchase any one of those things.

However certain loans often have lower interest rates and have much more benefits. For instance, if you currently have a home loan from a bank it is possible to typically get interest free renovation loans on top. Such a renovation loan could be a lot cheaper compared to a personal loan.

In case you’re self-employed, refrain from making use of a personal loan as a de-facto business loan.

Business loans are a pain to apply for; the credit officer requires a lot more questions than homeland security. However as soon as approved, business loans often have reduced interest rates when compared with a personal loan.

Nobody can prevent you taking a personal loan, and then putting the money into your business. Nonetheless before you do this, at least make sure to talk about business loans with the bank.

Are you spending or investing the money?

Are you currently taking a personal loan to purchase stocks, precious metals, or make some kind of investment?

Then it is highly recommended you try more secure activities, such as chainsaw juggling or maybe naked bear wrestling both of which are considerably less risky.

Kidding aside, investing money from a personal loan is contradictory and itself ironic. If you don’t have enough money to save up for an emergency fund, and even money for investing, don’t even try to get a loan to get those in line.

In addition, a couple of investments appreciate more quickly than a personal loan’s interest rate. Although you may not go broke, but you will most likely suffer a loss.

Will you be over-leveraged for other loans?

Refrain from taking a personal loan within 3 months of other loan applications. For instance, a home loan, let’s suppose you’re planning to buy a house the following month, and haven’t acquired a home loan yet.

You need 20% down-payment for the house, which can’t be included in the home loan. Hence, you make an application for a personal loan to take care of the 20%, and it’s approved.

After the personal loan is approved, you make an application for the home loan.

Remember that your personal loan will make worse your DSR. So when it does, you can’t borrow just as much as you’d like.

Do some other banks give better rates / benefits?

Different banks provide different rates and amazing benefits. A few Instances are “interest free” months or lower interest for active customers. To get information on which bank has the finest offer to suit your needs, call them and compare their offers.

Are There Better Options?

In the same way, if you’re purchasing an expensive item like a piano, talk to the retailer and see if they allow an installment plan; this will likely end up being cheaper than the bank’s personal loan.

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Uncategorized http://www.moneycontrol.me/blog/important-questions-to-ask-before-getting-a-personal-loan-24/ http://www.moneycontrol.me/blog/important-questions-to-ask-before-getting-a-personal-loan-24/ Editor Thu, 21 Sep 2017 03:27:05 -0400
5 Warning Signs of a Personal Loan Scam

Have you ever been in a tight spot and you need more money than what you have?

Do you urgently need money, but your pay day is still days away?

There are certain times in our life when we consider getting a personal loan to finance our wants or needs. A quick Google search will lead you to thousands of lending companies promising easier payment terms, or a big loan amount promising low fees but with lots of hidden charges.

You might even encounter a too-good-to-be-true lending company; they assure you they’ll lend you a huge amount of money. The one you need for your child’s education. A big amount enough to start over again. Enough money just to get by without waiting for support. You become enthusiastic; you share your information and they promise they’ll get back in a few days.

And poof! They’re gone. After a few days or weeks, you’ll receive notice that you’re further down the dumps, as “you” allegedly borrowed money you didn’t even applied for. This is just one of the common cases of identity theft. Some will misuse your information to take out loans for themselves.

How can you avoid these scammers who would just rip you off and put you into more financial stress? Watch out for these top warning signs of a personal loan scam!

Watch out for No Credit Check “perks”. Isn’t it too convenient to find a lender that won’t check your credit simply because they ‘understand’ the position you’re in? Isn’t funny that some lenders ‘claim’ that they have a software that can estimate your credit history?

Online loan companies like Personal Loans Now in Australia allows you to apply online for a personal loan, but they still undergo a process where they check your current standing and more. Once they finish verifying your documents, they will still screen you for more information. A definite date will be set to let you know if you can get a loan or not.

Scammers use survey forms that gather your personal information and they’ll leave you hanging with more debts down the line.

Asking for Upfront Fees or Collaterals. This is the oldest trick in the book. Scam companies will ask you to wire them money so they can process the loan. Nowadays, their modus operandi involve obtaining your debit card information; they will promise to only “check” your debit card if there’s money in your account “for security reasons”.

Next time you check, your debit account has already been drained. Be careful of these different attempts to get upfront fees from you.

Unregistered lenders. Operating outside the country or online does not exempt any lender from getting registered. A quick search online or call to the State Attorney General’s Office will help you determine if you’re talking to a legitimate lending company. Borrowing money from illegal lenders can put you into deep trouble.

Non-existent offices. Again, you are prone to identity theft if you’re not careful of where you apply online. Even online lending companies have their own headquarters somewhere. Look for their contact page, and do a little research or drive to their location to inquire. Watch out for those with PO boxes as addresses; chances are, they aren’t legitimate.

Emails offering personal loans. It’s ridiculous how people still believe these exclusive offers for a low, low, low interest rate. These emails are in the Spam folder for a reason. If there were emails that slipped past the Spam filter, watch out for those offering commissions or any additional perks. Check for a professional email signature, and avoid clicking links or downloading attachments from that email.

If you have fallen for these tricks, call your local police, and file a report. Online scams might be difficult to trace back and retrieve whatever you lost, but reporting it will help the public to become aware of scams like these.

Save your family’s well-earned money and contact a legitimate lending company for your personal loan needs. Do you have any experience with scammers, especially with online lenders? Share your story via the comments!

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Uncategorized http://www.moneycontrol.me/blog/5-warning-signs-of-a-personal-loan-scam-23/ http://www.moneycontrol.me/blog/5-warning-signs-of-a-personal-loan-scam-23/ Editor Thu, 03 Aug 2017 05:13:33 -0400
How To Use Real Estate To Climb Out Of Debt (Hint It’s Not What You Think) Now before you roll your eyes at another post recommending real estate to erase all of your student loans and credit card payments, hear me out. I know that if you read this post, it will be worth your while.

Real estate has a lot of moving parts and little details that prevent a lot of young people from learning about real estate investing or experimenting with real estate.

Today we are going to break down a simple way that you can use real estate to help remove some of your debt.

The best part?

This isn’t a very talked about method because the returns aren’t as high as if you were went into real estate full time, but that is okay. You are looking for extra money to erase debt, not make this your fulltime job.

But that doesn’t mean it’s not worth your time.

Let’s get started.

You are familiar with the traditional way a house is sold. You find a realtor, they work with another realtor to close the deal, you sign papers, and you move in or out of your house.

But there is another way to buy/sell a house and that is with a real estate investor, who uses cash to buy the house, fix it up, and then sell it.

Real estate investor websites like this need one thing above all…

They need real estate leads.

That is to say, they need people who are motivated to sell their house for below market value (generally because they need a lot of work to get ready for sale) to purchase houses from.

This is where you come in. Let’s say you know of a family member or a friend who needs to sell their house fast. You can offer to help them learn all their options and sell their house quickly without paying closing costs or all the repairs they need.

Once they are open to the idea of selling their house, you could Google a keyword like “Vancouver Home Buyers” and find a website that looks reputable and tell them you have a property they might be interested in.

And here is where you make money

Most of the time a real estate investor will pay you for leads, it’s called bird dogging.

Often times they will have a set price (ranges from $500-$1500) for a lead that turns into a deal for them.

So you can ask what their bird dog fee is and then give them information on the property and help connect your family or friend with the investor.

This requires your time, and a little Google research, but it is a great way to get into real estate and learn how the process works without your own money on the line.

What are other ways to find properties to offer to real estate investors?

  • You could post online (like Facebook or Craigslist) offering to help people sell their house quickly
  • You could contact a local realtor and ask them to send you houses that aren’t highly marketable or desirable
  • You could drive by old houses that looks like no one is living in it and see if you can find contact information for the property
  • You could put up signs or flyers offering your services.
  • You could run ads on Google or Facebook offering to help connect home sellers with an alternative option.
  • Go to local meetups for real estate investors and tell them what you are trying to do and they might connect you with others that you can work with to help find deals.

Wrapping it up

So as you can see, this isn’t a get rich quick scheme.

You are providing value to two people (the investor, and the home seller) and you are getting a commission for your service.

Not a lot of real estate investors talk about this because they make more money on real estate in other ways. But this should not stop you from exploring this option and using the money to help erase your debt.

If you have questions about bird dogging you can do a quick Google search to learn more.

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Uncategorized http://www.moneycontrol.me/blog/how-to-use-real-estate-to-climb-out-of-debt-hint-its-not-what-you-think-22/ http://www.moneycontrol.me/blog/how-to-use-real-estate-to-climb-out-of-debt-hint-its-not-what-you-think-22/ Editor Wed, 26 Jul 2017 23:08:06 -0400
How to Save Money on Healthy Food We all know the benefits of eating healthy food, as most of us want to live a healthy lifestyle. However, eating healthy could be expensive. Many people worry that if they switch to a healthier lifestyle, they will have to spend more money. Actually, this is not the case! If you know the tricks, you can save money on healthy food.

First of all, you can save money by cooking more at home instead of eating out. Actually you might find cooking at home is really fun! You can control what you eat when you cook the meal by yourself and you can make your meals super healthy.

You can also save money by having a healthy meal plan. With a good meal plan, you know what you will eat and you can do your food shopping accordingly. You can collect some good recipes and plan for a whole week ahead. This way you can also shop less and save on time and gas!

Another good trick is to prepare your meal in bulk. To save money, you can prepare a large, inexpensive cut of mean such as Turkey, Ham, Brisket etc., and reuse it in different ways.

You can save money on healthy food by using coupons. Take advantage of the incredible deals offered by Groupon coupons and sign up for occasional delivery of super healthy meals from the options available through Hello Fresh. These can be standby meals on the evenings you’re simply not in the mood to cook but are committed to having a healthy meal. Otherwise, shop on the perimeter of the grocery store and load up on fresh produce and lean meats.

Ordering food in bulk can also save you some money. For example, organic farmers might offer raw cheese that you can buy in bulk at a much lower price.

Another trick is to grow your own food! Believe it or not, you can grow your own food even if you live in a big city! Many people set up foot garden for vegetables or grow fruit trees at their home. If you are able to grow enough vegetables, you can eat your home-make healthy food and save a lot of money!

The last tip for saving money on healthy food is to preserve whenever it’s possible. For example, you can can your tomato products and eat them later in a different season. This way, not only you can have healthy food, but you will be able to save some money as well!

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Uncategorized http://www.moneycontrol.me/blog/how-to-save-money-on-healthy-food-21/ http://www.moneycontrol.me/blog/how-to-save-money-on-healthy-food-21/ Editor Tue, 27 Jun 2017 01:49:52 -0400
Will You Qualify For That Loan? When you’re desperate for money, it can be tempting to apply for every loan you find during your Google search for funding. Unfortunately, most lenders aren’t going to approve the applications of those whose credit reports include a lot of recent credit inquiries. And make no mistake: those inquiries show up very quickly. So, really, applying for every loan you find--as tempting as it might be--is the worst thing you can do.

A better approach is to take some time to learn about each loan that seems promising. Go beyond the advertised interest rate and credit limit. Make sure, before you apply, that you will actually qualify. Most lenders (at least, those who are reputable) will make finding out line of credit requirements easy for potential applicants learn. They will list them right in the fine print of their websites and lending information.

Typically, the basic requirements are these:

United States citizenship

Steady employment (or alternative reliable income)

A valid checking account at an accredited banking institution

A specific minimum credit score

A clean credit report (not perfect, but clean--there’s a difference)

While the US citizenship and a specific minimum credit score are self-explanatory, there are often other details about these requirements that aren’t always stated explicitly. 

Steady Employment (or Alternative Reliable Income)

You will need to prove that you have a job. For most people this is easy enough--they can simply send in a few recent pay stubs or provide a W-2. If you are unemployed, you’ll need to show that you’re receiving unemployment payments or reliable payment from somewhere. Lenders need to see that you have money coming in because that proves you’ll be able to pay them back. This proof can be in the form of bank records, copies of checks, etc. It is perfectly okay to call the lender and ask what documentation they need to prove your income.

For a self-employed individual or freelancer, this is a little more complicated. Often you’ll be required to submit bank records for your personal bank account and, if applicable, your business bank account. Lenders also often request to see your most recent tax return so they can get a feel for what you earn annually.

IMPORTANT: The magic number here is usually 3. The lender will want you to prove at least three months of reliable income, so the newly employed often have to provide backup documentation proving their financial stability.

A Valid Checking Account at an Accredited Banking Institution

Sorry readers but PayPal does not qualify as a “bank account.” The lender wants to make sure that you have an account at an accredited banking institution like a national bank or a local credit union. The magic word here is “FDIC.” If your banking institution is insured by the FDIC, the lender will likely trust them.

Like with employment, the magic number here is usually 30. Lenders want to see a checking account that has been opened and that has maintained a positive balance for at least 30 days. If you’ve been having trouble getting a bank account because of bad credit or problems at another institution, look for banks and credit unions that work with “high risk” applicants or that offer “second chance” accounts.

A Clean Credit Report

If you’re applying for a large amount, like for a mortgage, your credit report will have to be perfect. For short term and installment loans, however, most lenders understand that your report will likely contain a few mistakes or blemishes like missed payments or a collections account or two. What you need to avoid, however, are judgments and liens on your income. These carry a lot more weight than the errant missed payment or “sent to collections” account. Do what you can to work things out with debt collectors, the IRS, etc so that you don’t actually ever get sued.

Remember, as we’ve already stated: it is absolutely okay to call up a potential lender to make sure you meet current requirements before you submit an application. A good way to keep them from pulling your credit is to pull your report yourself and then refer to it throughout the conversation.

It might take some time, but eventually you’ll be able to find a loan that works for you without tanking your credit in the process!

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Uncategorized http://www.moneycontrol.me/blog/will-you-qualify-for-that-loan-20/ http://www.moneycontrol.me/blog/will-you-qualify-for-that-loan-20/ Editor Tue, 13 Jun 2017 12:49:18 -0400
Luxury Travel in China If you are planning a trip to China, and would like to really experience luxury travel and have a wonderful, deluxe vacation, you will be excited to know that there are tour operators who specialize in first class travel to China.

One of the first things we think of when we talk about “luxury travel” is first class air travel, and this is certainly a part of your luxurious China vacation, along with luxury hotel accommodations and having personal guides and escorts rather than taking group tours with other vacationers.

While you’re in China, you will want to take in some of the regular tourist sights, and you may want to be able to get the “special access” to some sights that is restricted for VIPs and special visitors. Talk with your luxury tour operator about these tours and what you would like to see; there are often special arrangements your operator can make to help you have an even more special experience.

Room service is a luxury many people enjoy, of course, and in China, in your five-star hotel, the room service will be spectacular, and you will be amazed how wonderful the local food is when you’re experiencing the cooking skills of some of the best chefs in the country.

General luxury travel is very popular, and you can find many tour operators offering first-class travel in China. You can go to the mainland and visit all of the wonderful historic and cultural sites in luxury, and you can also visit Hong Kong, which is considered truly luxurious in its own right. Simply by looking for a tour operator who does “regular” travel in first-class style, you can find a wonderful vacation package.

However, if you’re particularly interested in Chinese cuisine, you may wish to find a gastronomy tour that takes you to some of the most exciting and exotic dining experiences in China and gives you the opportunity to learn more about Chinese cuisine and sample things you would never be able to try at home.

Or, if golf is your passion, there are many deluxe golfing packages that let you tee off in the countryside of China, some of the most beautiful land in the world. If your are a keen golfer and want to either concentrate on golf while in China or make it a large part of your visit, you can work with a golf tour operator to make that experience a reality for you.

Whatever your goals for first-class travel in China, you can find a luxury tour operator simply by searching on the Internet for luxury travel in China and talking with operators who offer the kinds of tour you are interested in . You may  be surprised, not only at how lush some of the packages are and how much they offer, but that first-class travel in China, true luxury living on the mainland and in Hong Kong, is much less expensive than the same class of travel in Europe or the United States.

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Uncategorized http://www.moneycontrol.me/blog/luxury-travel-in-china-19/ http://www.moneycontrol.me/blog/luxury-travel-in-china-19/ Editor Mon, 05 Jun 2017 03:08:01 -0400
A Guide to Improving the Value of your Home

Your house is one of the most valuable investments that you probably possess. Therefore, when you want to dispose of it and acquire your dream home, you definitely want to receive good returns on your investment.

Even then, you need to realize that the value of your house could either appreciate or depreciate depending on how well you maintain it over the years as well as how you stage it for a sale. Thus, you need to determine the value of your home as it is not necessarily the price.

That is while the former includes elements perspective that include the location of the house as a comparison of the other houses within the locality that are put in balance with other offerings on the market, the latter, refers to the amount of money you ask at the time of selling.

How then do you ensure that you arrive at a price that is equivalent to the value of the property? Here are some guidelines from quick house sale property experts Ready Steady Sell to establishing the value of your property:

  • Look up property prices within the area – Checking how much similar properties are selling for within your area is an excellent way of determining a range within which the value of your property falls. The Land Registry website is usually an excellent resource as it captures data of all sold properties in a given locality so you have the advantage of knowing what properties that are similar to yours actually sold for.

You could go further to find out why there is a huge variance in pricing for the same kind of property. This way, you will avoid overpricing or under pricing your home thus making it easy to sell.

  • Check for development prospects within your area – This is advisable because developments such as the tube or train station, office suite, park, schools or shopping arcade tend to boost confidence in the area causing prices to grow significantly. On the other hand, a decline in business prospects within an area will translate to a decline in the value of houses.
  • Talk to a professional surveyor or estate agent – Property surveyors and estate agents are usually well informed about the latest trends in the industry and their impact on the value of property. They are also guided by a set criteria when assessing the value of property hence you can be sure to establish the actual value of your property.

With the guidelines given above, you can be sure to determine the value of your property. Once you have established the value of your home, you need to come up with the competitive marketing strategy to sell your house fast as the market can sometimes be flooded with houses and you do not want your house to stay on the market for too long.

You will do well to work with estate agents as they have the advantage of having insider knowledge on the property market hence can steer a sale within a short time. Alternatively, you could avoid all the hassle of selling on the open property market and sell your house to a quick house sale company. This is not only fast but you can be sure to sell your house for up to 90 percent of its value. 

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Uncategorized http://www.moneycontrol.me/blog/a-guide-to-improving-the-value-of-your-home-18/ http://www.moneycontrol.me/blog/a-guide-to-improving-the-value-of-your-home-18/ Editor Tue, 31 Jan 2017 08:13:27 -0500
Why Every Little Bit of Savings Matters

Living on a budget is the key to financial freedom, but getting started can be frustrating. When we look at our expenses and see all of those bills we're paying every month, it's easy to throw our hands up in disgust. But what about all those little expenses we incur? You might be surprised to find out just how much they amount to.

It's easy to dismiss cutting back on little things. A few dollars a month won't make a significant difference in the big picture. But a few dollars here and a few dollars there adds up to a few more dollars. When you cut back in a lot of small ways, you could end up with a lot more money at the end of the month.

Waste Not, Want Not

One thing we can do that is good for the budget is stop wasting so much. This can apply to many areas in our lives. From eating to home heating, waste equals money going down the drain unnecessarily.

Cooking for the family instead of eating takeout or dining out is a great way to save money and might be good for your health and wellness. But if you're throwing food out, the benefit is reduced. So if you have leftovers, don't let them end up in the trash. Some dishes freeze well, and this makes for easy dinners when you don't have time to cook. You could also eat dinner leftovers for lunch the following day.

If your home is not well insulated, you're probably wasting lots of money on home heating and cooling. Insulating will cost some money up front, but it will pay for itself quickly. If you have drafts around windows and doors, weatherstripping can help maintain the temperature of your home.

Most households waste an unbelievable amount of electricity. This can be prevented in part by using energy efficient appliances and light bulbs. Turn lights, televisions, computers and other devices off when you're not using them, and open blinds to take advantage of the sun's light during the day.

Do Yourself a Favor: Do It Yourself

Any time you pay someone else to do something that you could do yourself, you're spending money unnecessarily. This applies to little things like buying coffee instead of making your own, as well as to larger expenses such as home repairs.

Many of us buy coffee or a soft drink from a convenience store or coffee shop on the way to work in the morning. This can really add up over time. Instead, make your own coffee, or buy soda in 2-liter bottles and pour some into a smaller bottle or cup to take with you. The same applies to lunches. Instead of springing for fast food, take a sandwich or something microwavable to work.

While we're not all good at all types of repairs and maintenance, most of us can do some things for ourselves. Maybe you could change your own oil instead of paying someone else to do it. If the walls need painting, consider getting friends and family to help you do it instead of hiring a painter. Things like these can save us a noticeable amount of money right away.

When you add up the savings, little things can make a big difference to the budget. So take a close look at your budget and see what small expenses are lurking there. If you can eliminate or reduce them, it could positively impact your bottom line.

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Uncategorized http://www.moneycontrol.me/blog/why-every-little-bit-of-savings-matters-17/ http://www.moneycontrol.me/blog/why-every-little-bit-of-savings-matters-17/ Editor Tue, 24 Jan 2017 04:04:02 -0500
What to Do When Your Credit Card Gets Stolen Many people start panicking when they find their credit card is lost. Actually this reaction is not very helpful. Because with the right knowledge, you can handle this bad situation much better!

If your credit card is stolen, the first and most important thing you need to do is act quickly. If you act quickly, the damage can be minimized - in fact, it can cost you as little as nothing.

If you wait to act on the theft, however, it can end up costing you a lot. If you wait more than two days, it could cost you as much as $500. If you wait until your bank statement is mailed to you, you could lose as much as the thief charges on your credit card.

So, if your credit card gets stolen, what should you do?

Report It to Your Credit Card Company Right Away

There's a phone number on every statement, on the company's website and on your online banking statement as well. The phone number is usually toll free and manned every 24 hours.

Call this number and report your credit card stolen. They'll want to know your social security number, when the card went missing, the circumstances under which it went missing and the date of the last purchase.

The Fair Credit Billing Act

The Fair Credit Billing Act (FCBA) is a bill that protects consumers against the risk of credit card theft. The FCBA states that if your credit card gets stolen, you're only liable for up to $50 in damages if you report the theft within two business days.

If you report the theft before the thief can use the card, you won't even be liable for $50. If you report it once the card has been used, your credit card company can only charge you up to $50 of the amount spent.

So, report it right away - and you most likely won't have to pay anything out of pocket.

Watch Your Credit Card Statement

After a card theft, it's important that you watch your credit card statement like a hawk for the next 30 days.

Make sure no unauthorized transactions show up. Sometimes unauthorized transactions can take some time to process through the system. Make sure nothing slips through the cracks.

A Word about Identity Theft

If you suspect that your credit card getting stolen wasn't a mere act of theft but part of a larger identity theft plan, then report that to the credit bureaus right away.

They'll place a fraud alert on your credit report, which will make it much harder for anyone to open new accounts in your name.

Again, the faster you can act, the better.

Losing a credit card doesn't have to cost you money. It could just end up being bit of a hassle and a waste of time. Make sure you report it early and the bank will bear most of the costs.

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Uncategorized http://www.moneycontrol.me/blog/what-to-do-when-your-credit-card-gets-stolen-16/ http://www.moneycontrol.me/blog/what-to-do-when-your-credit-card-gets-stolen-16/ Editor Wed, 26 Oct 2016 11:43:28 -0400
How to Switch to a Lower Interest Credit Card If your credit cards are gauging you on the payments, what can you do about it? You can switch. Switching from an old credit card to a new, lower interest rate card can save you a lot of money. However, it also takes quite a bit of effort.

Here's how to switch from an old card to a new card with as little hassle as possible.

Compare Credit Card Offers

Start by collecting credit card offers. You know those pesky direct mail pieces you've been getting? Start putting them in a drawer.

Also, look online to see what kind of offers you can find. Print out the most tempting ones and also put those in a drawer.

After you've saved up one or two months' worth of credit card offers, go through them and see what the best offers you can find are.

Be Careful around Short-Term Offers

Many credit cards will offer terms like "0% for 6 months." It can be tempting to move your credit over to these companies just to save a bit of money in the short run.

The reality is, however, that most people never go through the trouble of shifting their money again after the six months are up. Credit card decisions shouldn't be made on a short-term basis, but on a much longer term outlook.

Also keep in mind that most credit cards charge a 3% balance transfer fee which could wipe out most of your short-term savings.

Pitfalls to Avoid in the Switch

When you make the switch, make sure you remember to switch all your auto-payment systems to the new card. For example, if you have your gas, electricity and Netflix subscription on your old card, make sure to switch them all to your new card.

Don't cancel your old card if it's your oldest credit card. Just keep it open with zero balance. Having an older card open shows you have a long credit history, which improves your credit.

Read Everything

Most importantly, read all the terms and conditions carefully. Understand exactly what happens when you switch credit cards, what happens during the introductory period and what happens from then on.

Understand all the fees, including fees you think you'd never have to pay (such as late fees). Don't make a decision until you understand all angles of the process.

Switching from one credit card provider to another isn't just a matter of flipping a switch. It often involves changing your credit card on many systems, reading several pages of documents, looking for fine print along with some careful thinking along the way. It's a lot of work, but if you're stuck in an expensive card right now, it's often worth the effort.

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Uncategorized http://www.moneycontrol.me/blog/how-to-switch-to-a-lower-interest-credit-card-15/ http://www.moneycontrol.me/blog/how-to-switch-to-a-lower-interest-credit-card-15/ Editor Wed, 05 Oct 2016 09:41:15 -0400
Easy Guide to Smart Shopping Online

Holiday season is here and everyone is making a beeline to buy appropriate gifts to suit the occasion. At times like these the stores are almost filled up with huge crowds and deals that make it almost impossible to get what you want. It is relatively easier to go shopping online to save time and get better deals quickly. However, online shopping is convenient but at the same time, it can also be potentially dangerous to shop online. It is during festival occasion hackers are on the prowl to steal or tamper with maximum user information. Nevertheless, one cannot altogether avoid shopping online as it has to be done. Here is an easy guide to smart shopping online to help you keep safe.

Browsing

Initially you need to understand that using a reliable browser is the best option while deciding to shop online. You can use either Chrome or Firefox; the best option is using these browsers interchangeably. If you are using two browsers at the same time then you minimize your chances of online security threat from hackers. For example, you can use Chrome for transactions login and Firefox for casual browsing.

Another essential tip is to check for the URL that is displayed in the address bar above the browsing window. While opening websites that require sensitive data transactions or user login details for shopping you need to check for the URL. Check for the HTTPS extension at the beginning of the URL. This indicates that it is safe to browse. Remember if you are about to check into a legitimate shopping website and it does not contain HTTPS then it is better that you do not log into it as you risk falling a prey to Phishing.

Passwords

Often we have a habit of continuing with the same password for a long time, this compromises your security. In order to be safer online it is essential to keep changing your passwords at a given interval of time especially during the holiday season. You need to change the passwords of your banking services, e-mail accounts and online shopping services that are similar to Amazon. Another thing to keep in mind is choosing a password that does not includes phrases or words. A password can be a composition of random words that can be separated by comas or spaces. However, you need to keep in mind that only websites like Microsoft accounts accept spaces within passwords including Amazon and Google. To be on the safe side, when you are done shopping you can again change your passwords to ensure the safety of your account.

Log Out

Many times, it so happens that you forget to either log out of your account or just hit the X to close the window. This way your account is still logged in and it becomes insecure as the cookies are stored that might be used for hacking your account. Make it a habit to log out of your account after you are done shopping, after using your e-mails or other such services that require login details along with passwords.

VPN

VPN or Virtual Private Network can be utilized to encrypt the web traffic. In case, if you do not have the option available then you can use an alternate program for securing your network. Downloading options like TOR for Mac and Windows, downloading software like LogMeIn Hamachi or an option like a HotSpot Shield suited to Mac and Windows users are good alternatives. These programs will keep you safe while you shop or make transactions online via shopping website. You can also look for VPN review websites such as VPNDada for VPN reviews. You can find VPNs for different topics such as China VPN etc.

Paying options

During the holiday seasons, the web traffic is large and there are many opportunities for hackers to get their hands on the financial details of a user. However, you can stay safe by utilizing a credit card to pay for your online shopping. This will also keep you safe from any kind of online fraudulent practices. Comparatively paying with a debit card is relatively risky as your PIN, other details can be compromised, and you may lose a lot of cash.

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Uncategorized http://www.moneycontrol.me/blog/easy-guide-to-smart-shopping-online-13/ http://www.moneycontrol.me/blog/easy-guide-to-smart-shopping-online-13/ Editor Fri, 16 Sep 2016 12:04:24 -0400
How to Get Your First Credit Card If you have no credit history, how do you get a credit card? Your first credit card marks your first foray into the world of adult finance and responsible lending. It's an important step for any citizen to take. Getting a credit card today can help set up your credit for future car loans and even mortgage loans.

This is how to get your first credit card, even with zero previous history.

Most Importantly, Get a Source of Income

It's extremely, extremely difficult to get a credit card if you don't have a source of income.

Credit card lenders see people who're trying to get access to credit yet don't have any way to repay the loan with suspicion.

Even if you just get a minimum wage job, that's going to help a lot.

Start with Your Bank

Where have you deposited money for the last few years? Do you have a bank that you already have a relationship with?

If so, this may be your best shot. Simply walk into your bank, ask to talk to a banker (not a teller) and tell them you want to apply for a credit card.

If you've been banking there for a while and have steady income, you have a very good chance of qualifying.

Getting a Student Card

If you're in college, it's quite easy to get a student card. There are many credit card companies out there that specialize in giving credit to students.

Make sure that with these loans, you read the credit card agreements very carefully. Sometimes predatory lenders deliberately target students.

Get a Gas or Department Store Card

Gas stations like Shell or Exxon Mobil offer credit cards that are usually quite easy to qualify for. The same goes for department stores like Macy's and Sears.

Again, make sure you read over the interest rates and terms carefully. Department store cards are easier to qualify for, but they're also often more expensive.

Leverage Your Parents' Credit

If you have trouble getting a credit card on your own, you can leverage your parents' credit to help.

There are two ways to do this.

First, you can have your parents co-sign on your credit card for you. This means that although you are responsible for paying back the credit card, if you fail to, the responsibility shifts to your parents.

The second method is to add you as an authorized user to your parents' credit card account. This allows you to "share" in the credit history generated by that credit card.

Getting a credit card for the first time might take a little bit of door pounding. You might get turned down a few times. Just remember that banks want to give out money - keep trying and one will eventually say yes. Once you get the credit card, make sure you make payments every single month to keep your credit score strong.

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Uncategorized http://www.moneycontrol.me/blog/how-to-get-your-first-credit-card-14/ http://www.moneycontrol.me/blog/how-to-get-your-first-credit-card-14/ Editor Fri, 26 Aug 2016 11:39:53 -0400
Several Ways to Reduce Spending And Control Your Personal Finance It's truly difficult to listen to companions, family, or colleagues discuss the new things they have. Possibly they purchased another auto, an extra large flat screen TV, or something else you've needed. Despite the fact that you'd like to possess the same things, nothing says you need to.

Perhaps you're accustomed to going out to lunch with companions each day. Through the span of the month, that can indicate a lot of superfluous spending. Take a gander at these situation:

Rather than going out to eat each day of the week, bring your lunch with you. Not just will you be sparing cash, you will likewise have more control over the nourishments and the sums you eat. You may find you start losing weight and staying healthy simply because you're not eating such fat-laden meals. 

Search for different ways you can decrease spending by experiencing your financial plan. Clearly a few things on your financial plan are settled costs, however even with those you might have the capacity to discover approaches to spare.

Satellite or digital TV - Can you diminish the programming for satellite or digital TV? Rather than having the ìeverythingî bundle, would you be able to manage without all the motion picture channels you never watch?

Transportation: Use open transportation where conceivable. It might be this isn't an alternative, yet you may in any case have the capacity to spare. Find other individuals to carpool with you and offer the costs. Make certain to keep your tires legitimately swelled and auto tuned up. This will lessen wear and tear on your auto and help it to run better.

Mobile phones: Does everybody in your family truly require their own wireless? By and large adolescents and kids basically needn't bother with PDAs; they simply need them in light of the fact that their companions have them. Do you truly require access to the web on your wireless or a portion of alternate administrations which add to your month to month bill?

Power: Do you regularly experience your home and discover lights on in rooms that are abandoned? In the event that you do, your family is squandering power. What else would they say they are leaving on? Does the TV run when nobody is watching it? Change your warming or cooling to decrease costs. It might be somewhat cooler in the wintertime or hotter in the mid year than you're utilized to, however it can have an emotional effect in the sum you spend month to month for your electric bill.

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Uncategorized http://www.moneycontrol.me/blog/several-ways-to-reduce-spending-and-control-your-personal-finance-12/ http://www.moneycontrol.me/blog/several-ways-to-reduce-spending-and-control-your-personal-finance-12/ Editor Tue, 26 Jul 2016 02:31:44 -0400
Smart Strategies to Get the Biggest Bargains at Flea Markets The best thing about shopping at a flea market is the ability to talk dealers down on their prices. Many dealers do not set their prices in stone, only as a bargaining tactic. Read on to find out how to get the biggest bargain when you visit the next flea market.

Arriving early at the flea market ensures that you will have the first view of the wares. Arriving early is also a great way to save money. Many dealers remain at the flea markets until their wares are sold or the market closes - whichever comes first. If you can get to the flea market early, you may be able to bargain on an item you like.

Just as arriving early can benefit you, so can arriving late in some instances. If you visit the flea market late, you will see that most dealers are trying harder to push their wares before the market closes. You are likely to be able to negotiate smarter if a dealer is desperate to make money.

Dressing casually can actually help you to bargain better. If you visit a flea market dressed up in your professional clothes or dressy clothes, you will find that many dealers will see dollar signs and try to take advantage of you. Dressing casually will help prevent this. Dealers will see you as a regular customer and be more willing to bargain.

Haggling is a method of talking a dealer down from their listed prices. Most of the time, listed prices are an introduction to bargaining - not necessarily what a dealer expects to get for an item. Try your hand at negotiating. If you are not very good at it, bring along a friend or family member who is.

If you look too interested in a product, you will probably find that the dealer is not willing to relent on price or will only knock off a dollar or two. Feigning disinterest is a proven tactic to getting a dealer to lower his or her prices. By pretending you could do without the item, even if you are secretly coveting it, you open the doors to communication and therefore negotiation.

Visiting a flea market promises to bring some good deals, if you know where to look and how to bargain. Keep in mind when you visit a flea market that typically the list prices are not what the dealer expects to get for the item. This will open the doors to negotiations and bring you, hopefully, a great score.

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Uncategorized http://www.moneycontrol.me/blog/smart-strategies-to-get-the-biggest-bargains-at-flea-markets-8/ http://www.moneycontrol.me/blog/smart-strategies-to-get-the-biggest-bargains-at-flea-markets-8/ Editor Thu, 07 Jul 2016 23:30:47 -0400
Painless Ways to Start Saving Money for a New Car Are you in the market for a new vehicle? Maybe you have had your old car so long that itís time for an upgrade. If this is you, learn how you can start saving for that new car and not have to cry about it.

Saving is hard for most people without a strategy in place. It is easy to say that you want to save money each month, but hard to do. When it comes to big ticket items like cars, the challenge can seem like an overwhelming task you canít pull off.

If you want a new car in your life, read on. Here are savings secrets that anyone can take advantage of rather painlessly.

* Create a separate bank account: This is a first step even before the first penny has hit the bottom of the account. Now you have some place to put monies that are specifically for buying your new car.

* Bank your bonuses and raises: Many places of work pay their employees a bonus around the holidays or throughout the year for performance appraisals. Instead of adding that money to your current income, place it in a separate account so that it can grow for you.

* Pay yourself: Research how much it will cost to buy your dream car. Figure out a likely monthly and send that to yourself. You are the bank, so any money comes to you. Place it in a separate interest bearing account to accumulate.

* Automatic debit: Set up a draft each month around pay day. Instead of using every last dime, have it automatically deducted from your account before you have a chance to spend it. Talk to your human resources representative. They can help you to sign up for direct deposit and how to transfer some money to a separate a checking or savings account. Since you donít see it each month, you are less likely to miss it, especially when you have a goal in mind.

* Keep your car in mint condition: Your existing car can be used for a trade-in. But, no dealership will want to buy it if the tires are balled or the upholstery is torn. Getting regular maintenance will not only help to ensure that your car runs properly, but you can get a good trade-in offer on it to help supplement the money you already have towards your car.

* Bag your lunch: Instead of spending five dollars here or ten dollars there on food at work, bring your lunch and lower your food budget while increasing your car fund.

* Save your change: Place any loose change that you have in your pockets in a jar at night. Before you know it you will have a jar full of coins that you can put towards your car fund.

Do you want a new car? Give yourself time, do some research and use these simple ways to begin paying for it now.

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Uncategorized http://www.moneycontrol.me/blog/painless-ways-to-start-saving-money-for-a-new-car-9/ http://www.moneycontrol.me/blog/painless-ways-to-start-saving-money-for-a-new-car-9/ Editor Sat, 02 Jul 2016 23:36:42 -0400
How To Downsize Your Home People are considering making many changes in their lives now that we are in a recession. This is not a necessarily a bad thing. For example, after lossing their jobs, many people have choosen to become a digital nomad, nor location independent entreprenur.

Lowering costs is sound financial advice. One way to lower your overall cost of living is to downsize your home.

The kids have gone to college or are making a living on their own. You have more room than you need in your home. Should you consider finding a smaller home? Here are some considerations before you make that decision.

* Where will you live? If you are moving to a smaller home in the same area of the city, your tax savings may not change. Property tax rates may be based on the county you live in or the city. Check first to see what if any benefits you will get based on your geographic location.

* How is the housing market? Right now, it is definitely a buyerís market. Even if you find a smaller home, you can still enjoy many of the amenities you have now: large kitchen, walk-in closets, porch, and big back yard. Shop around for the most extras for your money.

* Lower mortgage payment Who wouldnít enjoy saving money? Check to see what the savings will be each month. If you can find a fixed rate mortgage with a low interest rate that costs you $200 to $300 less a month, you can use that sum for savings or put it towards a vacation.

* Loss of responsibility This can be a good thing for those who are getting too old to want to mow the grass or worry about the general upkeep of a property, especially if it is large. Consider investing in a condo. Here, your dues go towards general maintenance so you donít have to deal with it. For some, having one less thing to do is worth it.

* Will it sell? This is a buyerís market but you can sell your home and make a profit in many circumstances. Is your home fairly modern? Has it been kept up well? Is it in a good neighborhood? A home with attractive selling points wonít be such an albatross around your neck when and if you make the decision to downsize. Check with a broker first to see what the chances are that they can move your home.

* Lower utility bills With less space, it will take less energy to heat and cool your home. This is prudent, especially if you have rooms that are not being used anymore because the kids have moved out. This is money you can put in the bank.

Are you looking to downsize your home? The first consideration many have is whether it makes good financial sense to do so. Use the points above to evaluate your position.

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Uncategorized http://www.moneycontrol.me/blog/how-to-downsize-your-home-4/ http://www.moneycontrol.me/blog/how-to-downsize-your-home-4/ Editor Sat, 25 Jun 2016 19:11:19 -0400