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4 Ways to Know Your Car Was a Good Investment

August 1, 2011 By Leave a Comment
A car is an investment in the same way good suits and a powerful computer are an investment. It can help you impress future clients and potential dates with your power and prestige. Of course, not all cars are created equal. There are certain telltale signs that will indicate whether you’ve chosen a car that is, indeed, a good investment.

It Needs Little Maintenance

One of the major costs of a car that many people never consider is maintenance. A car that’s broken down is a car that can’t help you with anything. Car repairs also tend to be very expensive propositions. If a car was pricey when you bought it but rarely needs anything more than an oil change, you’ve done well.

It Sips Fuel

Gas prices will eat into your bottom line on a regular basis. When your car uses gas efficiently, you can save a bundle in a hurry. The more money you save, the more you can put into other important things in life. A cheap gas-guzzler will rapidly reveal itself to be a pretty poor investment.

Its Insurance is Cheap

Paying a lot of money for insurance is silly. Insurance premiums vary dramatically, depending on the kind of car you buy. These variances can make a big difference over the life of your car, too. Sacrificing insurance coverage can end up being a very bad idea in the long run, but a car that is cheaper to insure is a pretty good deal.

You got a Great Deal on It

One of the best aspects about cars on eBay is that you can often find a decent used car for a relatively low price. If you can find a car for a couple of thousand dollars that still runs well, that’s a great investment over time. Also, you can consider it a good deal if you can pay off your car in fewer than three years with a reasonably low interest rate. Your interest rate can cost you a lot of money if it’s high.
Your car is an important investment. This is especially true when you consider that a vehicle can help you make money, as well. As with every investment, you need to consider how much it’ll cost you from every possible angle. Sometimes a slightly more expensive car will pay dividends down the road. If you keep your car in great shape, you may even make some money on it when you sell it.
Filed Under: Advice, Tips & Tricks

How to Make Your Life Recession Proof

July 28, 2011 By Leave a Comment
Recessions are tough and can take a huge financial toll on people if they aren’t prepared for the worst. While no one knows exactly when or if a recession will hit, there are a few things you can do to recession proof your life and prepare for the worst.Recession proofing your life will require you to make some changes to live a lifestyle that is a little different than what you might be used to or comfortable with. Here’s a look at some changes and things you can do now to start recession proofing your life.

Save for a Rainy Day

Many people wrongly assume that just because the economy isn’t in a recession, they don’t need to save money in their rainy day fund. However, if you are looking to make your life recession proof, you need to save for a rainy day, regardless of whether there is a recession going on or not.

The best way to create a rainy day fund is to set up a savings account and place a little bit into it each month. This system will help you get into the habit of saving and will prepare you for the tough times that are associated with recessions.

Keep Your Job Skills Up to Date

One of the biggest characteristics and consequences of a recession is the potential for many people to lose their jobs. There are very few jobs that are recession proof, and anyone can face a pink slip during a recession.

With the increase in available distance learning classes and online colleges, you have many opportunities to keep your job skills and education up to date. Just a few classes a year can keep you primed and ready to hit the job market should you lose your job due to a recession.

Don’t Give Into the Temptation to Overspend

It can be extremely tempting to go out and overspend on items you don’t need when the economy is great and there’s money in the bank. If you are trying to recession proof your life, however, you should not give in to the temptation to overspend, even when times are good. Instead, you should keep the money in savings or look for ways to invest for the future. This will help you prepare for a recession and those times when money is tough to come by.

Recessions are unpredictable. They can come quickly and be back to back, or it can be years before another one hits. Despite the unpredictability of recessions, you can prepare yourself by making these changes. It might be hard at first, but you’ll be grateful you did it when a recession hits. Do you have other tips for making your life recession proof?

Filed Under: Advice, Tips & Tricks, Budgeting, Personal Finance

Staying on Top of Your Debt Management Agreement

July 25, 2011 By Leave a Comment
International Money Pile in Cash and Coins

Image by epSos.de via Flickr

The number of Americans who are deeply in debt is on the rise. A recent survey showed that the number of Americans who have a credit card debt over $15,000 rose 50% from 2000 to 2010. With so many people in credit card debt, it has caused many credit management companies to appear all over the place.

Credit or debt management companies are companies that agree to help people manage and control their financial situation. These companies generally take over all debts and make a payment arrangement with creditors. This arrangement usually allows the person to pay one lump sum a month and that sum is spread amongst all the creditors so everyone gets something.

Although this situation makes your debt easier to handle, people who enter into a credit management agreement still need to be vigilant about their credit card statements and how payments are being made.

Here’s a look at what you should look out for and make sure you do if you have recently entered into a credit management agreement.

Ensure Payments are Being Made

You will want to make sure your credit card statements are properly reflecting the payments that are being made according to the agreement. Each statement should show how much your creditors received and how much you still owe.

Make Sure Your Payments are Made Regularly

When on a credit management agreement you need to make sure that you are making regular, monthly payments. Just one missed payment could void your agreement and land you in debt that you can’t get out of.

Following these tips will help you eventually get out of debt.

Filed Under: Advice, Tips & Tricks, Budgeting Tagged With: , ,

5 Reasons Why Credit Cards Aren’t the New Black

July 22, 2011 By Leave a Comment

If credit card companies were to be believed, you might come to the conclusion that having dozens of them is financially savvy. That’s just not the case. Here’s why you should limit the number of credit cards with your name on them:

1. Credit Score

While it’s smart to have a credit card or two to build credit, having many of them is typically considered a bad mark on your credit report. Think of this as those looking at your credit report do: too much potential to overspend. Whether or not you intend to overspend — you may have awesome financial habits — you may eventually do so in case of an emergency. Perhaps you’ll get into a car wreck and need a lot of money to pay untold medical bills. When you’ve got the ability to utilize a lot of credit, people assume that you will. This works against you.

2. High Interest Rates

If you don’t pay off your credit card balance in full each month, you’ll be subject to extraordinarily high interest rates. Credit card suppliers can charge pretty outlandish rates, and as a result, they do! Even if they offer low teaser rates, most state in their fine print that they can, and will, raise rates when certain easily met conditions occur.

3. Late Fees

You might mail your payment just in the nick of time but if you forgot about that holiday in there the payment may get delayed by a day or two. The result? You’ll get stuck with a late fee! Late fees are a real wake up call to the egregious overcharging that’s rampant in the world of credit suppliers. A single late fee often costs as much as a dinner for two at a decent restaurant. Keep that money for your romantic life!

4. Overspending

Unanticipated medical bills are one thing, but a lot of people haven’t learned to live within the means of their paychecks. These citizens are likely to spend way more than they can afford on a regular basis if they’re able. Credit cards are a great enabler in this regard. But you can manage spending with the Reach card, since the amount on the card is predetermined by your available cash.

5. Debt

It’s one thing to mildly overspend during the holidays, buying gifts for friends, family, and loved ones. It’s another thing entirely to repeatedly, continuously overspend one’s paycheck week in, week out. This leads to debt, often measured in very large numbers. Huge debts can lead to bankruptcy or painful repayment periods, in which one lives substantially below their means for a few years. That’s not fun!

All told, credit cards can add convenience to your financial life. Unfortunately, they can also create a real burden, even in the lives of very well intentioned, financially stable people who encounter real-world problems. Have you ever had a medical emergency or other large, unexpected bill?

Filed Under: Advice, Tips & Tricks, Budgeting, Personal Finance

How to Get the NFL Sunday Ticket!

July 21, 2011 By Leave a Comment

There’s just something special — almost magical in fact — about football season. The crisp smell of fall in the air, the good times with friends watching the game, and the endorphins you get from watching your favorite team win.

If you are a football fan, then chances are you are looking for ways to get the NFL Sunday Ticket from direct tv. Look no further! Now is your chance to discover how you can get the NFL Sunday Ticket for the best price — and enjoy your time watching your favorite team.

Get DirecTV

First things first, you’re going to need DirecTV in order to enjoy the games. The NFL Sunday Ticket is an out-of-market sports package that will broadcast NFL regular season games. This package carries all the Sunday afternoon games that can be seen on FOX and CBS. A true sports fanatic will have to have the NFL Sunday Ticket.
Step 1: Get NFL Sunday Ticket on DirecTV

What’s better than watching football live? Watching it in HD! In fact, watching football from the comfort of your home in HD could possibly be better than a live game. There’s no cold weather to deal with — plus you can be surrounded by all of your buddies and your favorite food.

The NFL Sunday Ticket is only available through DirecTV. Here’s what else you’ll get:

  • Every game in HD
  • Red Zone Channel
  • View up to eight games at the same time
  • NFL scores
  • NFL Sunday Ticket on Demand
  • And much, much more

Any true football fan will want to have this package. Fan tip: Call DirecTV to get the NFL Sunday Ticket before game day.

Setting the Atmosphere

Now that you have the actual package taken care of through DirecTV, it’s time to get your atmosphere ready.

Step 2: Prep Your Home

Make sure you clear a space in your home dedicated to watching football. This means you’ll want a room with a TV, free of any other distractions (like a computer or telephone), and with easy access to the refrigerator.
To get your home ready for Sunday football pleasures:

  • Stock the fridge with your favorite goodies: pop, chips, salsa, cookies, and any other snacks.
  • Hide any valuables. Not because you are afraid someone will steal these items, but it’s best to put the valuables away so you are not tempted to throw them when a play on the screen goes bad.
  • Turn off your cell phone. No need to be distracted by it ringing.
  • To discourage unwanted guests, turn your front porch light off so it looks like nobody is home.
  • You’ve got the free NFL Sunday Ticket already; now make sure you set the DVR so you can watch any playbacks.

Fan tip: Now is not a good time to take that call from your mom or your ex-girlfriend. Let her leave a message!

What to Do with the Family

You love your family, sure, but when it comes to watching football, you need your space.

Step 3: Make sure your family is busy with other plans.

  • Send your wife and the kids out for an afternoon at the movies. This way, you both get to do what you want to do.
  • Make sure your family understands how important Sunday football games are to you. If you have to, go to the park or to breakfast with your family earlier in the day so they will let you have alone time in the afternoon.
  • Take the pet outside. You love your dog as much as you love your kids, but it’s best to put “Fluffy” outside during game time.

Fan tip: It might be a good idea to buy your wife flowers. She’ll be much more understanding when you ask her to leave for the afternoon.

Preparing for the Game

Now, it’s time for you to get ready. The house is in order and the family is heading out for their pre-planned activity.
Step 4: Be mentally and physically prepared.

  • Dress in your comfy sweats (you know, the ones your wife really hates you to wear). This way you can jump up and down and scream while being comfortable.
  • Prepare plenty of snacks. But be careful what kind of snacks you have ready. You’ll want snacks that will require few bathroom breaks.
  • Call your buddies over. If you prefer to have some company, call your football fanatic friends over for game time. Just be sure to leave the guy who cheers for the other team off the guest list.
  • Get your stats list ready. Have all the stats and player information you’ll need for the game handy. You don’t want to go searching for this essential information during a critical play.

Game Time!

Any serious football fan knows how important it is to be prepared for the football season. If you are into football (which you must be if you are reading this article), then wait no longer to get the NFL Sunday Ticket. Call DirecTV to get started and you’ll soon be enjoying Sunday afternoons immersed in your favorite pastime. Be sure to have the house, family, and yourself ready. And then enjoy!

Filed Under: Advice, Tips & Tricks, Thrifty Ideas

Disadvantages to Debt Settlements

July 15, 2011 By Leave a Comment
stack of bills

Image by pinprick via Flickr

Many people who are facing an overwhelming amount of credit card debt often feel as there is no way they can ever get out from under it. Getting out of credit card debt isn’t easy but there is a solution out there for some people – debt settlement.

Debt settlement is when the creditor agrees to settle a debt for less than the amount that is owed. Generally, credit card companies will settle for 50-60% less than what is really owed. While this might sound like a great way to get out of debt there are some disadvantages to agreeing to a debt settlement.

Here’s a look at the disadvantages of a debt settlement.

Credit Score Factor

A debt settlement will take a huge hit to your credit score. However, many people choose to take the credit score hit because they are already facing late payments, and other factors that have affected the credit score and eventually the debt settlement will help raise the credit score after a number of years.

Taxes Owed

The IRS has the right to collect on any debt that is forgiven over the amount of $600. This means that when a debt settlement is agreed upon if the debt forgiven is over $600 the amount that the person saved will have to be taxed by the IRS.

Only Available for Financial Hardship

Debt settlement is only for those that are having trouble making their monthly payments. Usually there has to be a history of non-payment before a settlement can be reached.

These disadvantages to debt settlement need to be weighed before you enter into an agreement with your creditors.

Filed Under: Advice, Tips & Tricks, Budgeting Tagged With: , ,

How to completely write off the mortgage

July 10, 2011 By Leave a Comment

A person might elect to negotiate debts they have accrued alone or even seek the guidance of your debt consolidation company. When working with a settlement business, the business will manage, or assist with, the particular discussing process. The benefit of hiring an expert is because they are usually capable of discuss an improved value as compared to any time operating on your own. The significance of credit debt settlement companies sometimes appears in the present. As the number of consumers who’ve failed towards substantial financial obligations has grown as time passes the importance and wish of alleviation services is apparently just improving. Consequently, it is prudent adequate to comprehend the way to negotiate credit debt charges inside quick succession and with a smaller amount stress. Debt settlement enter into thought For the reason that it’s got managed to eliminate customer worries through particular strategies inside a very short while. Nonetheless, you should contact a genuine alleviation company in order to eliminate your debts effortlessly via this process. This can be achieved by way of a careful sort through the net.

Although a lender does have the possibility in order to reject any debt settlement choice, they rarely physical exercise this particular right. More regularly, the actual customer just isn’t yet in the scenario to produce debt settlement a viable alternative, a situation that it’s our job to help you accomplish. It’s in the needs of a creditor to be in credit card debt with a portion, instead of danger obtaining very little and needing to completely write off the mortgage. Individual bankruptcy is really a lot more unpleasant method than debt negotiation, and also creditors are allowed much better access to your personal assets. Depending on a state, you may be required to turn over large resources together with your automobile and residence, and creditors might also gain access to your entire disposable monthly income. Also, individual bankruptcy has the potential to affect your credit far more adversely than does debt negotiation.

 

 

Filed Under: Advice, Tips & Tricks Tagged With:

3 Ways to Avoid Falling Into Debt

July 7, 2011 By Leave a Comment

The media and credit card companies might have you believing that debt is the new American way, but it isn’t. With the right financial planning you can successful avoid falling into the debt cycle that so many Americans have found themselves in.

If you are looking to avoid debt, here are some tips on how to keep you from falling into the red.

Create a Budget

The best way to avoid debt is to create a budget and make sure you stick to it. You should assess how much money you bring in monthly, and compare it to your monthly expenses. If your expenses are more than what you bring in, you are on the road to debt and you need to figure out where you can cut back.

Use Cash

It might be tempting to take advantage of some of the great benefit programs credit cards have but using credit cards can lead to debt. Try to use cash whenever possible as it is harder to fall into debt using cash than with a credit card.

Avoid Taking Out Loans

Many people believe that taking out loans to pay off debts is the way to go, but it isn’t. Taking out more loans to pay off previous loans only leads to a bigger problem because you still have to pay off those loans. Pay off loans only with the income you bring in to avoid falling into debt.

With a little planning, and avoiding using credit cards and taking out loans you can hopefully avoid falling into debt.

Filed Under: Advice, Tips & Tricks, Spending Tagged With: , ,

The Truth About Bankruptcy

March 8, 2011 By Leave a Comment

Bankruptcy has gotten a really bad reputation over the past few years. The reputation that it has received has made many people reluctant to want to file for bankruptcy. People will tend to do everything and anything to not have to file for bankruptcy and then when they decide to file it is too late. What most people do not realize is that filing for bankruptcy might be a very smart financial move.

Bankruptcy is often portrayed as the end of the world and that could not be further from the truth. In fact, bankruptcy can often times help protect individual’s finances, possessions and even their home. There are even instances of people who have filed for bankruptcy, lost their home and in less than five years they were purchasing a new home because they were able to file at the right time.

The key is to make sure that you file bankruptcy at the right time. File too soon and you could lose everything, file too late and you lose everything. To ensure that you are filing for bankruptcy at the right time it is important that you seek the help of bankruptcy experts. Whether it is seeking advice from websites like Total Bankruptcy or seeking the advice of a bankruptcy counselor, these people will be able to help you file bankruptcy and try to protect your home and financial future.

If you have found yourself in a similar situation and you are debating filing for bankruptcy get the advice of the professionals before it is too late. Depending upon how far behind you are in your payments you might be able to keep the home with some bank negotiations or you might have to sell the house and consider renting. Just remember the sooner you seek help the more options you have available to you.

Filed Under: Advice, Tips & Tricks Tagged With: , ,
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