Month: April 2017

Free Money Saving Auto and Home Loan Tips

Free Auto Loan Tips

The following tips should help increase your chances of getting a car loan at a better rate.

Tip #1 – If you just started a job (recently graduated from college) then wait 6 months to apply for your car loan.

Tip #2 – If you have currently have bad credit then repair it before applying for an auto loan.

Tip #3 – If you’ve recently moved then wait until you have lived at your new address for 6 months before applying for a loan.

Tips #4 – If you have had a previous auto loan or home mortgage on your credit report then your chances for a new loan improve greatly.

Tip #5 – Try and pay off all of your credit card balances or at least lower them. You may want to consider finding the best debt consolidation loans to erase all of your credit card bills. The bottom line is don’t keep a high debt load or credit card balances.

Tip #6 – You must have a stable job or occupation.

Tip #7 – Other examples of credit extended to you should appear on your credit report. Verify this with a quick and easy online credit report. Also avoid charge off’s on your credit report.

Tip #8 – If you’ve filed bankruptcy before then you should wait 3-4 years before trying to get an auto loan.

Free Home Loan Tips

Tip #1 – Make Bi-Monthly Payments: Instead of paying your mortgage with one monthly payment switch to paying half of your loan payment every 2 weeks. The savings comes from the 26 half payments you make which add up to 13 monthly payments versus the regular 12 payments you would normally make in a year. The end result is you save a large sum of money on the interest owed and you’ll own your home a lot sooner!

Tip #2 – Choose a 15 year mortgage instead of a 30 year mortgage: You’ll end up with a higher monthly payment but in the long run you also save tens of thousands of dollars in interest charges, especially if you shop for the best home loans you can afford.

Tip #3 – Mortgage Refinancing: Currently this is the most popular trend. You refinance your mortgage if you can get a rate that is at least one percentage point lower than your existing mortgage rate and plan to keep the new mortgage for several years or more.

Tip #4 – Buy down the rate: The seller or builder, or through innovative pricing, can help you buy down your mortgage rate for one, two, or three years.

Tip #5 – Consider an adjustable-rate mortgage (ARM): If you think you will be in your house for less then 5 years then perhaps you should consider an ARM. An adjustable-rate mortgage (ARM) starts with a considerably lower interest rate, but then adjusts every year. This type of loan moves a little bit of the risk away from the lender, and the lender rewards you with a lower rate. Usually these mortgages are capped to rise not more than two percent in any year, and not more than five or six percent for the life of the loan for your protection.

The Nature of Student Debts Plus Debt Management Tips for New Graduates

Why Student Debtors Need Debt Management Tips

Student borrowers should go through money management trainings and learn about various debt management tips. A lot of college students are studying with the aid of student loans. Even those who started without student grants end up borrowing money and having debts because of increasing tuition fees, expenses for board and lodging, and other necessities that are directly hit by inflation.

How Debt Management Tips for Students Help the Society at Large

Even though student debts are generally personal problems, they can also affect the community in the long run since this situation is not only limited to a handful of students and fresh graduates; we’re talking about millions of young people in the country facing the same problem.

If the residents of UK is to develop a debt culture as early as during the college level, that doesn’t bode well for the country’s economy. People will be tightfisted with their money even before they have graduated. They will be afraid to spend money-and as everyone should know by now, a stagnant market where nobody is spending money can effectively kill an economy that’s already in crisis to begin with.

It is important that young adults should learn how to manage their money even before they set out into the real world. When they are no longer under the protective umbrella of federal scholarships and the financial assistance of their parents, it would require a great deal of discipline so that they won’t spend their hard-earned money on inane things, like the newest gadgets in the market.

Examples of Debt Management Tips

Here are some examples of effective debt management tips that students, and even older workers, should do.

The most important thing that student borrowers should do is look for part-time jobs while they are still in college. This will allow them to start earning and saving money at an early stage. It will also be easier for them to start a debt management plan early if they already have enough money to pay the first few installments. Hopefully those months will be enough time for the graduates to land themselves a decent-paying job.

There’s a saying that goes, “Prevention is better than cure.” The same can be said with the debt environment here in UK. People can avoid falling into debt if they avoid getting into situations that will inevitable lead into debts in the first place.

Young people are advised not to whip out their credit cards for every purchase they want to make. In fact, it might be better to completely cut off credit card use while still in college.

When going shopping, young people are advised to simply bring cash and leave credit cards behind. This is a trick that plays on a person’s psychology.

Drafting a monthly budget is also one way to economize and make sure that there is no excessive spending going on.

There are so many more debt management tips that student debtors should know about. They can learn more from their parents, guardians and online finance advisers.

5 Hot Tips to Get Out of Debt Now

Your debt is out of control and the stress is eating you alive. You desperately need some debt management tips to keep you from going crazy. Sound familiar?

Credit is available to almost anyone. The problem we run into is using too much of it and falling deep into debt. With the state of the economy our country is in today, we find ourselves in situations we had never been in before: payments are late and/or take too large a portion of our incomes. Learning to deal with our family’s financial security may be something new for many of us. Wanting to avoid bankruptcy or developing a bad credit history, we become depressed because of the situation we find ourselves in. We become angry because we feel there is no way out of this situation. But using the following tips to get out of debt can help you take control of your finances once again.

There Are Ways to Get Out of Debt:
One of the first debt management tips should be to avoid making the minimum payment due on your credit cards. This will not help resolve the situation you are in. Ignoring the seriousness of the problem may only increase your financial liability and cause more problems in the long run. If you are already receiving annoying calls from debt collectors, if you are tired of feeling helpless because your debt is out of control, the help of a debt management expert can bring you the relief you’ve been searching for. Many people are afraid to look for outside help but feel confident; your personal information will be kept secure and confidential.

5 Simple Debt Management Tips:

  1. Do not apply for more credit. Increasing your debt is not a good idea.
  2. Make a list of your credit card interest rates and balances. Knowledge is power!
  3. Stop paying late fees and reduce your unsecured debt. Use your lower interest credit cards to pay off your higher interest cards.
  4. Getting a debt management expert can help you make a plan to get out of debt in as little as 12-36 months. Why make mistakes on your own when professionals can help decrease the time and stress involved.
  5. Avoid the need to file for bankruptcy and instead, work on rebuilding your credit history. Reducing your debt will help you to qualify for lower interest rates once you take control of your finances.

Don’t feel helpless any longer. Follow the above listed debt management tips and lower your levels of anxiety by taking action. Eliminate your debt once and for all with a solid plan.

Budgeting Tips to Help Keep You Going

Budgeting tips will help a lot of people, especially those who are still in the early stages of the practice of budgeting because they are looking for reliable and usable information. Budgeting in itself is quite a hard, restricting process so many people who are not very used to this type of activity find themselves slowly going back to where they originally started. So, if you are one of those people who are already giving up on budgeting, what can you do? You do not want to go back to a life of senseless spending, but you also don’t think you could take a life full of limitations. Well, fret no more, here are some budgeting tips to help you with your problems.

First, think of this as training for your children as well. Many people who have engaged in the practice of budgeting find themselves being lost somewhere in the middle. This is because they start to feel the hardships of living with limited resources. When you notice that this kind of viewpoint is getting to you, think of all the reasons why you wanted to do this in the first place. And most importantly, think of the life lesson that you are giving to your children at the early stage of their life. Don’t just think about escaping possible debts and unnecessary financial obligations, but think about your children not getting into this kind of trouble in the future.

Then, keep a clear mind. Sometimes what really brings you down and stops you from pursuing your goal are the misleading thoughts you have in your head. Whether they be the pressures of work or of school, forget about them the moment you get home. Too much thinking leads to stress, and stress causes you to feel really exhausted and eventually drives you to break down. If this happens, you lose your focus with everything, especially with budgeting.

I know personally that to have a restricted allowance is truly difficult. Nevertheless, it is the most rewarding of all when you overcome this obstacle. Don’t worry because the hard part is really at the beginning. Once you get past that, budgeting will surely be a piece of cake for you. So take these budgeting tips whenever you feel you can’t do it anymore. And just like everything else you do in life, “No pain, no gain”. I’m happy to share a few budgeting tips to actually reduce the pain for you and hope it helps to keep you on a budget.

Free Beneficial Finance Tips

Handling your finances well during these times is of utmost importance. People are having a difficult time making ends meet with the rising cost of goods and the rising interest rates on home loans and auto loans- the fact that a lot of companies, and financial giants at that, are either closing down or cutting down on manpower. Much uncertainty hangs in the air in today’s economic scene giving rise to the need for beneficial finance advice not only for big investors but right down to ordinary folk trying to survive the daily grind. It would seem like hiring a personal financial advisor to help you make odds and ends of your current situation would be expensive and could cut your available financial resources even further down. Beneficial finance tips could be had for free.

There are experts who are all too willing to dole out advice online for free. It would be up to you, however, how to apply these beneficial finance tips to your particular financial situation. There are even sites that have downloadable worksheets that you can accomplish on your own to help you evaluate your current situation and then make out your very own financial plan. If you are to successfully weather out this financial storm, you have to have a financial plan that you should stick to and be faithful to. Free beneficial finance tips are nothing if you do not use it to draw up a financial plan to put your present and future finances in order. Some of these beneficial finance tips could be a challenge to follow especially if you have very little cash to work with. Just remember that even a little bit of money stashed away for the future will help you a great deal.

Five Debt Management Tips To Prevent Future Debt Problem

It is easy to get into debt, but hard to get out from it. So, don’t let yourself have a chance to trap into it, else you need a lot of efforts and times to restore a debt free life. The most effective way to avoid any future debt problems is to learn how to manage your money. With a proper money management, you are in control on where and how your hard-earned money goes. In fact, you don’t need a complicated money management system, as long as you are able to manage it in a sensible way, a simple money management strategy will do the job. Follow the 5 easy to implement debt management tips to get a start:

1. Make use of the advantage of online banking

We live in an enhanced internet/online technology world where almost everything can be done online. Most banks have provided online banking facilities to their clients that include online bill payments. So, you should make use of the advantage of online banking bill payment facility to do as much of your debt management online as possible. With online banking, you don’t have to waste your time to queue at bank, or reach the bank within its business hours. Everything can be done from your computer, 24-hours a day and 7 days a week. It provides the flexibility and convenient for you to manage your bills online.

2. Limit the number of bills through debt consolidation

The key factor that causes the debt problem is unmanaged multiple bills. Therefore, limit the number of bills will help you manage your debt more effectively. If you have a number of credit card with balances and ongoing loan repayments, debt consolidation into a consolidation loan helps combine these bills into a single monthly payment for ease of debt management.

3. Use automated payment system

In order to make your debt management process much easier, you can choose to make the monthly payments via automated payment system. Most banks do provide automated payment system via online banking, you can set standing instructions to authorize your creditors to auto deduct the monthly payment from your account. It makes easy for you as you don’t have to remember the due date of each payment, everything can be done by the automated payment system. You just need to make sure your account has sufficient fund to be auto paid to your creditors.

4. Don’t have too many bank accounts

Most people have more than one bank account. You may want to manage your money with different bank accounts, but don’t have too many of them as it may cause you to have problem tracking it and you are unable to manage your money effectively. Moreover, having too many bank accounts also means you need to pay more fees to maintain these accounts. Therefore, just keep the minimum number of bank accounts for effective money management.

5. Save an emergency fund

Sometimes, things not go as we wish. Unforeseen circumstances like major critical illnesses may hit us or our loved ones any time. You will need urgent money when it hits you. If you don’t have savings in your bank accounts, you may need to pay the bills with credit cards, by getting high interest rate quick loan or by withdrawing cash advances. Using the money you don’t own to pay the bills may lead you to a debt problem. Therefore, it is important for you to save an emergency fund to be used when urgent cash is needed.

A Budgeting Tip or Three for Successful Planning

The word budget gains groans of torment frequently from a variety of people but there really is nothing to agonize over. A budget is simply a spending plan that includes everything you will need to spend money on.

A spending outline that has everything you spend money on and stays within the acceptable income range is considered to be a good budget. It is also important to remember to include things like saving money for retirement, emergency expenses or schooling. Many people find budgeting a chore because they do not have direction or goals laid out as part of the budget. When you consider things like what you want to have in the next five years, for example, having paid off the car or mortgage, it makes it easier to sit down and take the time to budget with those goals in mind.

In fact that is the first budgeting tip. To make budgeting simple and easy, set a goal. Time frames give you a set of number to work with. Setting a goal is by far the most important budgeting tip.

Budgeting tip two is knowing your financial situation. There are a number of people who have no idea what their financial situation actually is. They have never looked at the big picture, content with looking at just the small piece that is in front of them. This can make budget calculating difficult. Therefore, taking a set back, pulling everything together and taking a look at the overall situation may be just what you need to make sure your budget is on target.

Budgeting tip three is to start making changes right away. Avoid putting off fixing financial troubles. By taking the time to fix troubles as soon as you see them, or even fix potential troubles, you can make sure that your financial problems disappear without creating major issues for you or your family.

Budgeting can be difficult at times, balancing everything out so at the end of the day you are in the black. However, a little time and a little effort is all that is really needed to make sure that a budget is a success. If you are having financial difficulties and are not sure how to budget, there are a number of resources that can help you. These resources include people like financial advisors, online resources, or even books that can give you a step by step guide to making sure you stay within your means and have what you want in life.