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Five Tips for Buying Your First Home

Posted by: | Posted on: May 29, 2016
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unduhan (29)Are you dreaming about moving into your first home? While home hunting can be exciting, the process of buying a home can be somewhat challenging. Purchasing a home is a big financial commitment – potentially one of the biggest purchases you’ll make in your lifetime. With some planning, you can be ready to commit to a home with confidence. Here are some tips to help you get your finances ready for purchasing a home.

Determine your down payment and monthly housing cost. In most cases, you’ll need a minimum down payment of 10-15 percent. However, it can be advantageous to make a larger payment to reduce the interest you’ll pay and avoid fees attached to low-down-payment loans. As a benchmark, your down payment generally needs to be at least 20 percent to avoid Private Mortgage Insurance (PMI). Maybe you’re one of the lucky ones with a generous relative willing to help with your down payment. If that’s the case, ask your lender about rules pertaining to cash gifts. You can determine your monthly housing cost by adding the cost of

The Ultimate Guide to Home Loan Pre-Approval

Posted by: | Posted on: May 16, 2016
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unduhan (28)When it comes to shopping for a property, a home loan pre-approval can give you the winning edge. It shows real estate agents that you are serious about buying a home and it places you in a good position to move quickly and get your finances sorted ahead of other buyers.

Although it is not a guarantee of how much you can borrow, a pre-approval gives an indication of what you can afford. Like any type of shopping, it helps to know in advance where you can safely buy and where you can only window shop.

There is no cost involved to obtain pre-approval and your mortgage broker will be able to guide you through the process, helping you to understand your borrowing capacity and the type of home loan that might suit.

When to apply for a Home Loan Pre-Approval

Only apply for your home loan pre-approval once you are ready to take the next step from inspecting and researching properties. Typically, the approval will only last 90 days so don’t apply for one until you are seriously considering purchasing.

What to have

Realizing Personal Economic Independence

Posted by: | Posted on: May 4, 2016
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images (12)An individual is initially dependent on others during the early phase of life; first 20 years. Throughout this phase, the person obtains knowledge on multiple subjects, attains wisdom through manifold observations, and builds up moral strength by means of spiritual/humane practices. Nevertheless, the person is barely in touch with the business world during this phase. Later on, along with multi-dimensional independent life experiences, the individual, in the second phase of life, is consequentially apprised about economic fields and economic works.

Human life embraces multiple needs and countless facilities for normal living. Basic human needs include healthy food, fresh water, proper clothes, right sanitation, complete shelter, necessary medical aids, easy transportation and appropriate education. The innate human nature extends the individual’s contentment boundary towards countless paraphernalia of life, such as, aesthetic dressing, delicious foods, magnificent residence, superior education, unlimited medical assurances, and so on and so forth. In order to fulfil both, needs and facilities, money is the fundamental prerequisite. Proactive efforts are indispensable to earn money units. Namely, a work for the sake of monetary reward is called an economic

Why Consumer Spending Matters to the Economy

Posted by: | Posted on: May 2, 2016
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unduhan (30)There are a variety of factors that determine the strength of the U.S. economy, including government spending levels, imports versus exports and currency values. Yet, the biggest factor in determining the health of the economy is based on consumer spending, which is the case in most developed countries.

According to statistics from the Federal Reserve (the Fed), expenditures from American consumers account for more than two-thirds of the nation’s Gross Domestic Product (GDP), the measure used to determine growth in the economy. While the role of the consumer has not always played such a dominant role in driving the economy, it has generally been responsible for 60 percent or more of economic activity dating back to the post-World War II era.

It is notable that consumers have played a more prominent role in recent decades. According to U.S. Bureau of Economic Analysis, a half century ago, in 1966, consumer spending accounted for 59 percent of total GDP. By 1991, the percentage had risen to 64 percent. Today, consumer spending represents 68.1 percent of GDP, and has been in a similar range

529 College Savings Plan or 529 College Savings Fraud

Posted by: | Posted on: April 12, 2016
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unduhan (26)Have you heard the great news about the tremendous benefits of 529 college savings plans? Before you rush out to blindly set one up, you may want to consider these 3 ideas before you do. They may very well save you thousands of your hard earned dollars.

As college costs continue to rise, parents are looking for any reliable way to prepare themselves for what they believe to be an inevitable budget buster. In recent years the 529 college savings plan has gotten a lot of media coverage. Parents have rushed out by the hundreds of thousands to establish these college savings vehicles only to realize that they got more than they expected.

To be clear, a 529 plan can be an extremely beneficial financial tool that parents can use to assist in paying for a child’s or named beneficiaries educational expenses after high school. But, is the lure of this college financial aid benefit more of a distraction of what parents should really be focused on. Here are three reasons why you should not have a 529 savings plan.

Reason #1

4 Immutable Laws of Money Control

Posted by: | Posted on: April 5, 2016
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images (10)A wild goat was blind in one eye because of an accident sustained as a kid. Since he was vulnerable if a predator approached on his blind side, he made a habit of grazing on a high cliff facing the sea. He kept his good eye in the direction of the land watching out for enemies and his blind eye towards the ocean.

One day, a boat filled with sailors rowed past the cliff. A sailor spotted the goat, grabbed a bow and shot at him. As the goat lay dying he gasped “I thought my enemies would come by land. I never thought to look out to the sea”

Wealth is only guaranteed when your personal money making machine is made up of effective money generation and money retention system. A defect in either of these systems makes you vulnerable to poverty and financial failure. Unfortunately most people intending to make money often concentrate all their efforts on generating money with little or no attention on controlling money. This is like trying to save the life of an automobile accident

Are You Serious or Are You Just Playing Around?

Posted by: | Posted on: April 2, 2016
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images (11)Do you know the one trait that separates the students who graduate with a mountain of debt compared to those who graduate debt free? If you want more college scholarships and grants while avoiding the most basic college funding mistakes that stop most students and parents dead in their tracks, read this immediately.

After years of watching thousands of students successfully and unsuccessfully navigate the confusing world of college financial aid, it seems that not a day goes by that someone doesn’t express to me a secret desire they have to change their life in some way.

Maybe they want to lose weight. Perhaps they want to make a dramatic career change.

Or as is most often the case with me, it is a parent talking about how they wish their son or daughter could graduate from college debt free. Without fail I will always follow-up their vision of fantasy island with a direct question.

“Are You Serious or Are You Just Playing Around?”

Some are shocked when I ask this question because they have become use to others celebrating their desire without pushing

Financial Solutions for Americans Today

Posted by: | Posted on: April 1, 2016
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unduhan (27)Americans are facing financial challenges today as never before, and a lot of us have been forgotten by the typical financial advisor. There are many people who have not sought financial advice because they felt it was out of their reach.

Nevertheless, it is just as important to the person who earns less than $100,000 a year to plan for the future, and they also deserve someone who is knowledgeable to assist them in having a comfortable retirement, as well as be prepared for financial emergencies and pitfalls that hit us all from time to time during our lifetimes.

Here’s just a few of the challenges the average American family is facing today, very serious challenges that will be the root cause of many of us retiring poor or having to return to work in our “golden” years.

1. The number one reason Americans are not saving, or saving very little for the future, is that we are drowning in debt! The statistics for 2015 show the average American carrying 15,000 balance on credit cards, 168,000 on their mortgage balance, 27,000 owed

Understanding Being Broke and Being Poor

Posted by: | Posted on: March 25, 2016
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images (9)Experiences and observations (by financial experts and financially literate people) lend credence to the fact that most adults are financial illiterates. Financial illiteracy is the direct consequence of lack of financial education. Due to the high level of financial illiteracy (and financial ignorance) in the society, many people (especially adults) are ignorant of the true meanings of basic and common financial terms and concepts. Consequently, they often misunderstand and abuse them.

The misunderstanding and abuse also reflect in their financial attitudes. Since financial attitudes determine financial altitudes, most people are hardly able to achieve any meaningful financial success all through their adult life, despite being very hardworking, because they have wrong financial notions, and deceptive financial mentalities and philosophies. They just cannot excel in their finances because their mindsets are hostile to the accumulation of material riches and wealth.

This is why it is important that you ascertain that your mindset is hospitable to wealth creation prior to aspiring to becoming rich. Among the most unpopular financial terms that are misunderstood are the phrases ‘being broke’ and ‘being poor’. It is

How To Remove Incorrect Credit Report Information After Bankruptcy

Posted by: | Posted on: March 22, 2016
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unduhan (24)If you have recently declared bankruptcy and want to rebuild your credit, it is essential that you regularly check your credit report to make sure that all of the details are correct. In reality, everyone needs good credit. Even if you never intend on buying a home or a new car, your credit score will still impact your life. A bad credit score may require you to pay more for car insurance or cost you more for your monthly cell phone plan.

Likewise, a bad credit score could cost you a dream job. So, please keep this in mind when thinking about the time and effort it will take to clean up the credit report. If you have never attempted to clean up your score before, it’s not that hard, and we will make it much more manageable for you. It’s easy to become preoccupied with life and assume that all information reported is accurate, but this is not the case most of the time.

In addition to taking the time to view your credit reports regularly, you must also follow

Shopping For A First Credit Card

Posted by: | Posted on: March 9, 2016
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images (8)Long before we are old enough to carry credit cards ourselves, advertisers make sure we know about the power of plastic: “It’s everywhere you want to be.” “It pays to Discover.” “What’s in your wallet?”

While using an ad campaign to choose a card is a terrible idea, the slogans have one thing right: A credit card can be a powerful thing. For teens and 20-somethings looking to pick a first card, taking the time to choose carefully can save money and offer a boost in establishing and building a credit history.

An excellent credit score will be helpful when you start to think about buying a car or getting a mortgage. Even if you do not plan to take out a large loan in the near future, your credit information can be a factor in renting an apartment, obtaining a membership at a club or getting hired for certain jobs.

Lenders use credit reports to determine how risky it is to give a borrower – that is, you – a loan. All in all, the lender just wants to know if

Money and the Laws of Value

Posted by: | Posted on: March 5, 2016
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unduhan (25)One summer day a hen was on the look out for food on a farmyard. As she scratched at the straw on the ground, she uncovered a diamond jewel. The hen suspected that the jewel might be valuable because of the way it glittered in the sun.

This object is probably worth a lot, the hen thought to herself, but I will trade a bushel of this diamond for a single bushel of corn. (One bushel of diamond is worth about 20 million tons of corn)

What is true for the hen is also true for human beings. People cannot use money better than their level of appreciation of its power. If you are primarily a consumer you will only be familiar with the consumption power of money – what money can buy. An investor is very familiar with the reproductive power of money – How money can multiply. A business man is familiar with the production power of money – How money change forms into valuable products and services. Money has no power in itself to change your financial personality;

The Latest Credit Updating Craze

Posted by: | Posted on: February 29, 2016
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unduhan (23)If you read about the housing market a lot, or you’ve recently been house hunting, you might have heard of something called ‘rapid rescore.’ Essentially, this is a service that mortgage lenders provide to certain clients in order to immediately boost credit scores. The main goal of a Rapid Rescore being to make it easier to purchase a home.

In some instances, a Rapid Rescore can be a good thing, but it’s not a strategy for everyone. If you’re considering paying extra for this service (or just want to know more about it), here’s some detailed information to take into consideration prior to opting for this service.

Not A Clean Slate

If you have bad credit, buying into a Rapid Rescore service isn’t going to fix that bad credit. Here’s what it will do:

  • Update your credit immediately
  • Allow you to purchase a home with updated information

Here’s what a Rapid Rescore won’t do:

  • Fix any major credit problems
  • Help you gain credit approval if your credit is truly bad
  • Eliminate any bankruptcy notifications that might be listed on your credit report.

How It Works

1. Corrected credit report information

Solve Your Quest of the Goods and Bads of Merchant Services

Posted by: | Posted on: February 29, 2016
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unduhan (21)13Every business has its share of strong points as well as low points. While some entrepreneurs are quite familiar with both aspects, some are still battling between the pros and cons. If you are also struggling from this situation, read on to unveil everything related to merchant services. With the clear picture in front, you can easily plan whether these services can benefit your business or not. Starting with the good points, there’s a lot to gain.

Check out some of the most popular features, which can help your business expand globally in minimum time.

1. Merchant services are all about accepting credit cards. As more & more customers love paying through cards, an incredible boost is seen in the sales.

2. Accepting card payment is easy and takes a few seconds. Hence, the payment game gets done instantly.

3. Higher order amounts makes accepting cards a lot cheaper.

4. Cash comes with risk factors; hence, security is needed. Moreover, if the payment is huge, troubles are natural and customers might pay less than the actual cost.

5. Merchant services increases the payment options

3 Things You Don’t Know About Your Credit Score

Posted by: | Posted on: February 3, 2016
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unduhan (20)Yet, if you’re like many Americans, just knowing that you have a credit score may be just about all that you know. This is a bad situation, and you need to fix it, sooner than later.

“Why?” you ask. Well, your FICO score is, for better or worse, like your financial DNA. So, while you hopefully know that you have a credit score, you may not know just how important that score is to your life and livelihood. Unlike DNA, however, your score isn’t a number that just takes care of itself. No, you need to take care of it.

Here are just three reasons for making sure that you do.

Your credit score is somebody else’s business.
That’s right: big business. Your score is at the mercy of three privately owned mega corporations, whose business is rating you and your creditworthiness. In fact, it is these companies, or credit bureaus, that create your score in the first place. The “big three” of these national credit bureaus are Experian, Equifax, and TransUnion. This credit – or FICO – score that they assign

Business Credit Report

Posted by: | Posted on: February 1, 2016
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unduhan (22)The world is a constant flow of services and goods today that need to be created, ordered and paid for. In today’s economy, this is often done through credit. In a view to keeping this system functioning smoothly, it is important that businesses rely on business credit reports. Through business credit reports, companies can determine the creditworthiness of any business partner or dormant account.

The business credit report shows your ability and willingness to pay bills.

The business report is very similar to inactive accounts. If you are considering extending credit to a company on the other side of the world that is divided by a barrier of culture and language, then you need to rely on timely and objective business credit reports.

The business report is an accurate and objective document that provides businesses with the vital information they need to make a sound decision about whether or not to extend credit. With today’s global marketplace, it is impossible to inspect all facilities personally on short notice. Therefore, the global entrepreneur needs to rely on a small window through which they

How to Fix a Credit Score

Posted by: | Posted on: January 29, 2016
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unduhan (19)If you’ve ever run into financial trouble, you know how frustrating it can be when that information shows up on your credit report. Lenders use the information on your credit report to assess your risk as a borrower, and late or missed payments could make you seem like more of a risk. In addition, your credit score may be negatively impacted.

Luckily, you have some control over your credit score. Just like missing payments and not paying your debts can bring down your score, you can do things to build it back up. It takes some effort, but it is not impossible.

1. Understand your score.

The first step on the path to positively affecting your credit score understands what goes into it. A credit score is based on several different factors in your credit history, including your payment history, how much you owe, how much credit is available to you, the length of your credit history, and the types of credit you have.

However, two things influence your credit score the most: on time payment of your bills and your available balance.


Credit Score Comparisons

Posted by: | Posted on: January 16, 2016
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unduhan (18)Credit scoring seems like it should be a straightforward concept. All of the financial information provided to consumers, however, is confusing. You may see multiple scores and various criteria used by banks, credit card companies, and other lenders. What is your real credit score? Read on for an overview of credit scores and what they mean for the general population.

Scoring methods all generally use statistics and analysis to determine consumer credit payments over time. They are all used by lender and financial institutions to facilitate providing credit, loans, and mortgages to individuals. Payment history, overall debt, number of cards, and other information is used in most scoring models.

The History of Credit Scores

Until the 1970s credit scoring systems were not the prescribed way to determine credit viability. Financial institutions used human metrics such as a personal relationship with the client, body language, and initial conversations. The financiers would often share information across the industry when they had mutual clients. Results were often misleading and financial institutions themselves suffered from loss associated with unreliable consumers.

Equifax, now a big 3 credit

How to Fix a Credit Score

Posted by: | Posted on: January 9, 2016
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download (19)If you’ve ever run into financial trouble, you know how frustrating it can be when that information shows up on your credit report. Lenders use the information on your credit report to assess your risk as a borrower, and late or missed payments could make you seem like more of a risk. In addition, your credit score may be negatively impacted.

Luckily, you have some control over your credit score. Just like missing payments and not paying your debts can bring down your score, you can do things to build it back up. It takes some effort, but it is not impossible.

1. Understand your score.

The first step on the path to positively affecting your credit score understands what goes into it. A credit score is based on several different factors in your credit history, including your payment history, how much you owe, how much credit is available to you, the length of your credit history, and the types of credit you have.

However, two things influence your credit score the most: on time payment of your bills and your available balance.


Educating Your Teens About Credit

Posted by: | Posted on: January 2, 2016
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unduhanAs children grow into teens and young adults, they need to start learning about building good credit. Not having the proper guidance can lead young people down a path of building debt and poor money management. Starting at home with some principles for good financial management is a great way for parents to help their children grow into responsible adults.

To Begin

Don’t start out with a credit card. The ease of using a credit card makes it far too easy to abuse. Instead, begin by teaching your children how to reconcile their bank statements with a debit card or checks. To help them when they first start out, link your bank account with theirs to avoid surcharges if they have difficulty with the lessons. Remind them to keep their receipts and always be mindful of spending only what they have available.

Have your children take responsibility for their car insurance or other bills that are directly related to their finances. Letting children have this experience of managing an amount while keeping in mind they have bills to pay is a great starting