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6 Wealth Building Strategies

6 Wealth Building Strategies

6 Wealth Building Strategies

6 Wealth Building Strategies – If you want to test out your own financial habits against some recommended wealth building strategies, the answers may help you to start to build wealth in your lifetime. How is it possible that an ordinary couple on ordinary income built extraordinary wealth becoming multi-millionaires and retiring in their fifties? This is the premise of the Automatic Millionaire by David Bach, one of 12 best-selling books in personal finance. The strategy he presents is not as far-fetched as the story appears. 6 Wealth Building Strategies. Slot Game Online.

Instead of focusing on growing your income, increasing your spending and looking rich, if you switch to saving money, investing wisely, you can become very rich – and sooner than you might think. It’s simple to read, but it seems difficult for people to implement in today’s increasingly materialism and credit-orientated culture. As a regular on the Oprah Winfrey show, David Bach is no stranger to the personal finance industry, at least in the US. But what sets him apart from many experts are the straightforward strategies he shows, which anyone can do to become debt free and build wealth in your lifetime. Slot Game Online.

Here are six questions you can ask yourself to kick off your own personal wealth building strategies and finish rich in your lifetime.

1. Do you want to be rich?

This is not a trick question. But the real question is to ask yourself WHY you want to be rich.
If you get clear on your goals, you wake up hungry to make it happen and you’re more likely to do the work and make the sacrifices to achieve them.

2. Do you pay yourself first?

This is the number one financial decision, but few of us do it and certainly we don’t do it automatically. When you earn a dollar, the first person who should get paid is YOU. Pay yourself first means put money aside for your taxes, your retirement accounts, your savings, many of which are tax free! The rule is to pay yourself one hour a day of your income – around 10-15% – invested automatically for life. (The average household actually puts away only 10 minutes worth of their earnings a day – around 2% – which is both shocking and scary.) Slot Game Online.

3. Do you know your Latte Factor?

The average American and probably European spends around $10 a day on incidental purchases, like buying a Latte and a pastry before, during and/or after work, maybe a pack of sandwiches or a salad and a drink over lunchtime. If it’s not that, it’s a magazine or an extra CD, grabbing some chocolate at the petrol station. That $10 a day amounts to $3600/year (assuming that somehow you will have a latte factor not just on weekdays but weekends too). Slot Game Online.

If you put that away instead, it really mounts up – and this will blow your mind. Calculate it through at say 8% annual growth, over 35 years, that is actually a staggering $1,385,505 – over a million dollars – for coffee! Wait five more years, and that would be an unbelievable $2,108,569. The strategy here is to become conscious of what your incidental ‘latte’ purchases are and reduce them or knock them out and instead pay yourself first with it. Slot Game Online.

4. Do you rent or own?

If paying yourself first is the number one financial decision. Then the number one investment decision is buying your own home. It’s the top wealth creation strategy you can use. Home owners have a net worth of 40-50 times more than people who rent. A secondary strategy is to pay your mortgage debt off as early by making over payments and thus saving enormous amounts of money on interest otherwise paid. Slot Game Online.

But a third arm to this is that once you’ve paid about half off. Use the equity to buy another property of the same value an rent it out. For a 15 year long fixed rate mortgage, the interest rates are as low as they will probably ever be. It is easier than ever to benefit and build wealth in your lifetime. In fact, using a bi-weekly payment plan could save you over six figures in interest over 15 years!

5. Do you have debt?

If you are going to work really hard to make money. Then you should make sure you have a plan to keep it! The only economy you can control is your personal economy. So reduce your debt by paying it off from the start and little by little. This is easier and less stressful than trying to pay off big lump sums. Slot Game Online.

6. Do you give back?

When your personal finances are stretched, it seems very hard to consider any level of tithing. But it’s a healthy habit and pays you back in so many ways. It’s another kind of wealth. When you feel happiness and satisfaction at a deeper level. You are far more open to opportunities you might otherwise never notice.

Read more about Finance.

Car loans

Car loans

Car loans

Car loans – An auto loan or a car loan is a loan availed to buy a specific vehicle, which can be used or new. If you plan to finance your car through car finance programs or auto finance programs, there are many choices available as far as credit facilities are concerned, however the final availability of your car loan will depend upon on two main aspects – your income, and your car credit score. In case your credit score is not good enough, chances are you will end up paying a higher rate of interest for your car financing facility.

Knowing your credit score can help you decide the manner of availing your credit. In case of bad credit ratings, it is possible to improve your credit ratings and subsequently apply for the loan. If you credit score is below the national FICO average of 680 points, it is recommended you do something to improve upon your score before applying. The second criteria of your monthly income can also decide the result of availing your car credit facility. Even if you have a bad credit score, if you have a decent monthly income, you can still improve your chances of getting your credit.

Eligibility for car loans

Theoretically, almost anyone is eligible and can apply for car loans. As long as they have a certain plan to repay the loan, and have social security proving their citizenship. Other factors decide the extent to which you might be successful in actually availing the required car finance credit, however these factors can be either negotiated or improved upon. The borrower’s credit ratings or repayments history is important, but not a major factor when it comes to car financing. In short, it is possible to avail your car loan provided you have done your homework well, and have prepared well in advance for the credit facility. It is important to find the right kind of lender, who might offer you exactly what you need, and help you decide the manner in which you desire to avail your loan. Many such lenders are available.

Ways to avail car loans

The following options are generally used by individuals when they desire to obtain credit facilities to buy their car – new cars as well as used cars. Slot Game Online.

Banks and credit unions option –

Individuals usually prefer going to banks and credit unions to avail their car loans or auto loans. Bank auto loan programs are very popular since borrowers can avail attractive deals through these institutions. Credit unions offer lower interest rates as compared to most banks. Slot Game Online.

Home equity options –

Utilizing your home equity loan is another way of financing for your car. However, one needs to make sure that the security offered, usually your home, is not put to undue risk, since it may further encumber your most important asset value.

Online lenders option –

If you are bold enough, or you have the required expertise related to online companies. It is possible to conduct your financial transactions over the Internet, and avail your auto financing from online lenders. This option can be convenient for a variety of reasons online lenders usually compete aggressively for business and offer very competitive rates and contract terms. So the borrower tends to gain something extra from the finance deal. The biggest advantage is you do not have to leave the comfort of your home. Still carry out your transactions to buy your dream car. Slot Game Online.

Relatives option –

Even after trying all possible ways and means of availing auto finance. If everything fails, you can still use time-honored method of borrowing from your relatives. This option usually works, but it is important to know that it can put a strain on your relationship. So it is advisable to use this option as your last option, when nothing else seems to work out. Slot Game Online.

After availing your car loan

Majority of the lenders provide car loans without any major hassles. The borrower can enjoy their vehicles while paying their loan. Lenders or creditor do not pursue or harass their debtors unless there is some reason to do so. That reason is defaults in monthly dues and delinquency issues. So if you make your monthly payments regularly. Your lender will not take any steps to repossess your vehicle. In case you suffer or end up with any repayment issues. It is advisable you contact your lender, explain your problems to him or her. Find a way out to redeem through some acceptable compromise. Slot Game Online.

Tips for Financially Successful

Tips for Financially Successful

Tips for Financially Successful

Tips for Financially Successful – The New Year is here, and it can be the best one ever for you financially! How do I know this? Simple, if you get on board, and put good financial management principles in place it will enable to get the best out of your money! Slot Game Online.

Christmas is finished and you probably spent lots of money during the festive season on gifts, eating and drinking and, partying! Now you need to lay down some financial guidelines for the New Year to ensure a financially successful 2012. So here are some money management tips for the New Year:

1. Invest in your Financial Education

There is a saying that “the more you learn is the more you earn”. If you are going to acquire a new way of thinking about your finances then you are going to need to read and study more financial literature. There are numerous books on the market that you can purchase to help you increase your money management knowledge.

2. Review your assets and liabilities

At the beginning of the year you need to identify your starting point. So review your assets as follows: a. the value of your house, b. the value of your investments such as savings, shares and bonds, c. the balance on your current and deposit accounts, d. value of your pension and insurance. Also review your liabilities such as the balance on your mortgage, loan, and credit cards.

3. Review your budget

Check your budget to ensure it contains all your income and expenditure. Make sure there are no new monthly direct debits that have crept in unawares, or increases in your monthly bills such as council tax, utilities, mortgage, annual bus or rail passes. Despite being small amounts such increases can build up and disrupt your finely tuned budget. Also on the plus side check any increase your income such as an annual pay rise, increase in child benefits, family credit, and income from your investments.

4. Set your financial goals (expenditure) for 2012

Think about the things you want to do in the 2012, which are going to require considerable expenditure. A new home, new car, wedding, a new addition to the family, or an expensive holiday. All of these things need to be paid for, so you need to put plans in place to make sure you can afford them without getting into debt.

5. Set your financial goals (savings/investment)

You need a saving and investment goal for the New Year. Try and see if you can save a greater percentage of your salary, check the interest rates being paid on your current and deposit accounts; if they are not up to scratch. The beginning of the year is an ideal time to look around for a better account which pays you more for looking after your money!

6. Set your financial goals (debt reduction)

In 2012 you need to maintain your drive to reduce your debts to the point where you are debt free. Using your debt reduction plan prioritize your highest debts and pay them off one by one till they are all gone. If you don’t have a debt reduction plan you should get one right away.

7. Spend wisely

Make 2012 the year you bring discipline to your spending. No more impulse purchases. Shop with cash and leave your cards at home, purchase on-line where it’s cheaper; no more living off your overdraft, and most importantly if you don’t have the money don’t spend it!

8. Get a credit check

It is a distinct possibility that at some time during the year your credit status will play a significant part in your money management strategy. So it pays to know from the outset what your credit rating is, and get a credit report. The report will show your credit history and your rating. It will enable you to check all your credit dealings and ensure that they are correctly recorded, and rectify them if they are not, as any adverse entry will detrimentally affect your credit rating. You can do it all on-line.

9. Review you income potential

The most obvious way of enhancing your financial position in the coming year is to increase your income. So this is a good time to look at your earning potential; are you entitled to a promotion or is time to change your job, or maybe even your career? Alternatively, maybe you can get second job or look at other income generating opportunities such as network marketing or an internet business.

10. Review your security

Do you have life insurance, a pension and a will? If not now is the time to get these fundamental things in place. Speak with an independent financial advisor immediately. Tips for Financially Successful

11. Get Help Finally

If after carrying out the above steps you find you are really struggling with your finances don’t worry or ignore the problem; get help! Organisations such credit action specialise in providing advice for people in serious debt. Check them out at Like I said this can be your best financial year ever, just follow the tips! Tips for Financially Successful

Five Ways to Enhance Your Financial Health

Five Ways to Enhance Your Financial Health

Five Ways to Enhance Your Financial Health

Five Ways to Enhance Your Financial Health – Personal finance means how you manage your money and plan for your future. All of your financial activities and choices have an impact on your financial health. We tend to be guided by some rules of thumb, something like “do not buy a building that costs more than two-and-a-half years’ worth of income” or something like, “you must always save a minimum of 10% of your income for your retirement.” joker123

While many of some of these rules are time tested and useful, it is necessary to think about what we should be doing to improve our financial habits. Here are five personal finance rules that can assist you on achieving specific financial goals, cited from Agen Sbobet :

1. Count the Net Worth and Personal Budgets

Instead of ignoring your finances and leaving them to chance, a little bit of calculation can help you evaluate your current financial health and know how to reach your short- and long-term sbobet88 financial goals.

2. Know and Manage Lifestyle Inflation

Most people will spend more cash if they have more cash to spend. As people are getting higher salaries, they tend to spend more money, this phenomenon is called “life inflation”. Although you may be able to pay your bills, lifestyle inflation can also be very limiting in the long run, because it limits your ability to make more wealth. Every dollar you spend now means less money later. insurance news

3. Understand Needs vs. Wants and Spend Wisely

It is best to be mindful of the difference between what you need and what you want, so you can make better spending options. Your needs are the things you must have in order to survive, such as food, healthcare, shelter, transportation, a reasonable amount of clothing. Meanwhile, wants are things you like to have but do not really need for survival.

Read More : Four Ways for Millennials to Get into Investing

sbobet884. Begin Saving Early

There is a saying that says, “It is never too late to start saving for retirement.” That is technically true, but the earlier you start, the better off you will likely be during your retirement years. This is because of the power of compounding.
Compounding has a relation to the reinvestment of earnings, and it is most successful over time. The longer earnings are reinvested, the greater the investment worth, therefore, the bigger the game slot earnings will be.

5. Build and Maintain an Emergency Fund

An emergency fund is money that has been set aside for emergency purposes. The money is intended to help you pay for things that wouldn’t usually be included in your personal budget. This includes unexpected expenses such as house repairs or an emergency trip to the hospital. It also helps you pay your daily expenses if your income is interrupted, for instance, if an illness prevents you from working. finance news

The Bottom Line

Personal finance rules can be wonderful tools for achieving financial success. Nevertheless, It is necessary to look at the big picture and build habits that helo you make better financial decisions, resulting in better slot game financial health.

Four Ways for Millennials to Get into Investing

Four Ways for Millennials to Get into Investing

Four Ways for Millennials to Get into Investing

Four Ways for Millennials to Get into Investing – Millennials have the greatest chance in the stock market if they invest sooner instead of later. It is going to be a long game due to the compounding effect. Thus, for millennials who don’t yet have the knowledge or comprehension to begin investing in a major way, here are some ways to understand how it works. Starting with one of these tips today may make you a fortune later, cited from Agen Sbobet :

1. Use a DIY platform

There are a lot investing platforms that can make personalized investing portfolios. You can use Ellevest, which has 21 asset classes and makes a portfolio based on the amount of risk you want to take. For millennial ladies, this can be a good first place to get started, because not only you can invest as much as $20 and add a recurring contribution, but you can also edit your joker123 timeline as you go. Four Ways for Millennials to Get into Investing.

2. Invest in something that interests you

This could range from investing in a friend’s start-up for a product you believe in to using a platform such as Vinovest, which permits game slot users to buy and sell fine wine without having to store the inventory in their homes. Simultaneously, this type of investment can be fun and. Having an interest in one sector of industry or type of product will also incentivize further research on the subject, that can only pay off as far as investment options go. Insurance News

Read More : 3 Things You Have Got To Know Before Getting Your First Credit Card

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3. Invest in something which is part of a global conversation

Investing in something such as cryptocurrency can be another alternative. A lot of millennials enjoy participating in the conversation around the different types of cryptocurrency on Reddit and Twitter, where they can find information, make slot game friends and learn in a more social way. Apps such as Coinbase make this easy. Where everything from Bitcoin to Ethereum is accessible to buy and sell at a moment’s notice. That is how many millennials start to play with trading. Those are valuable skills that can translate to the stock market afterwards.

4. Do a convertible loan

Convertible loan means that an agreement is created for a loan for a startup or business. The loan will be returned with a small interest fee, with the choice to turn the debt into equity. For millennials in the startup sphere curious about business or working in venture capital. This is a good way to start the process of startup investing while also providing the startup a year to perform before choosing whether to invest or take back their loan money with the small interest rate accrued. It can also be a good chance to find about about key terms related to sbobet88 business growth and what investors have to look for in startup performance.

Each of these four ways offers an educational glimpse into the world of investing, with a rather smaller margin of risk for starters finance news. The greatest way to learn is through doing this millennials just need to begin playing with their disposable income to learn the ropes.

Global Credit Crunch Market

Global Credit Crunch Market

Global Credit Crunch Market

Global Credit Crunch Market – Today the top topic heard nationwide is the economy and struggles of everyday people to survive this current economic downturn. From reading history we learn of the cyclical nature of economies. So, while this economy is down today it could very much bounce back over time with the right leadership.

However, regardless to what is done or not done in Washington, I want to talk today about the responsibility to create our own economic self improvement program. I want to ask you one question. What is the state of your personal economy? Are you over burdened with debt, living pay check to pay check, fearing unexpected financial setbacks? Thinking about the retirement years? Having more month than money?

Even if the economy rebounds in the near future, I think we must continue to be vigilant about creating our own economic stimulus program. We must not get lazy and continue the same habits which in part contributes to our financial insecurity. We need a program that will stimulate and improve our personal financial reality. I suggest we look at our current condition and then create a personal three year economic self improvement program that will touch all areas of our financial life. The following tips will get you started on your personal economic recovery program.

Steps to create your plan

1) Savings

Before we receive our weekly, bi-weekly or monthly salary you notice the government has already deducted money from your paycheck among three areas: federal, medicare and social security. What does this have to do with the idea of saving? As it predetermined by the government that a certain amount of money will be set aside from the gross of your salary, it would be wise for us to set aside a certain amount of money for our savings. The money coming out regularly may seem to be a small amount, however over time you can grow a decent amount of money. Whether you choose to save $10, $50, $100 or whatever amount, the key is to be consistent and do not bother your savings. This would be a smart thing to do with the extra stimulus money from your paycheck. Global Credit Crunch Market

2) Repairing credit/Debt reduction

Now that we have started saving money for our future it is rime to say goodbye to debt and repair our credit. The Bible teaches the following concerning debt, “The rich rules over the poor, And the borrower is servant to the lender.”Proverbs 22:7There are two types of debt positive and negative. Positive debt refers to those expenses which are unavoidable and positively affect your credit ranking like a car note or mortgage. On the other hand, negative debt refers to those expenses that drag our credit rating down.

The first thing I advise is to go online to and request your credit report from the three credit bureaus. It is your right to receive a free credit report from Experian, Equifax and Transunion each year. Once you know the damage you can come up with a game plan for repair. You do not have to pay any company to repair your credit. Spend one evening at the library or Barnes and Nobles reading books on credit repair to learn what you need. You can then negotiate with your collectors from a strong position.

3) Live within your means

I like to say that you can live frugal but rich. Only you and I as individuals know the amount of money that could be saved. If we were to live a more financially responsible lifestyle. I am not saying that you have to give up cable, a nice dinner out. Turn off the air in the summer or wear old tattered clothes to save money. However, do we have to eat out so often or can we cook our own meals? Do we have to have every new piece of clothes or pair of shoes that come out? Or what about bad habits which not only destroy or health, but drains us financially. There are ways to live within a budget, yet still dress nice, eat well and enjoy this thing called life. The money you do not spend can go towards investments, debt reduction or savings.

4) Safe investments

I do not pretend to have knowledge of Wall Street. Big time investor in advising you regarding this step. Considering the economic downturn I do not know if it is wise or unwise to deal with traditional investments. However, this shouldn’t stop you from participating in what I call safe investments. Research at your local bank or online for the current rates for Cd’s(certificate of deposit) or MMA(Money Market Accounts). You can set aside a portion of the money you are no longer wasting and are now saving to invest in one of the aforementioned options and start your money working for you. Global Credit Crunch Market.

5) Start a small business/exploit your talents

The famous motivational speaker Les Brown in his book ‘Live your dreams’ says, “What do you enjoy doing? How can you do what you enjoy and make a living at it?” However, I believe each human being is capable of doing or learning to do something well that would benefit another person. It is easier to start a business doing something you enjoy and love doing than just focusing on money as the sole objective.

Get yourself a piece of paper and write down the things you know how to do really well. Next, research if there is a market locally or on the internet to exploit your talent. Considering the current economic climate and that it is said that many are in a position to lose their jobs this might not be a unrealistic option.

5 Financial Planning Mistakes

5 Financial Planning Mistakes

5 Financial Planning Mistakes

5 Financial Planning Mistakes – When we see that the fixed deposit rates are higher we invest in fixed deposits. And with the numerous calls from hardcore telecallers, we find it hard to avoid them and ultimately end up in buying an insurance product without any previous plan.

The result of such unplanned investments is however not always bad. But it results in an unnecessary financial burden, which becomes difficult to carry in the long run. Hence the unplanned investment in a fixed deposit may result in good returns from it, but overall low returns. An unplanned investment in the share market or a mutual fund results in a loss and getting stuck for years. An unplanned investment in an insurance product results in lapse of the policy after a few years.

As an intelligent investor we should follow a guideline to investing, ignoring the calls from the telecallers, friends, colleagues and our own lust for more profits. Let’s see the 5 common mistakes that an investor commits. Here they are:

Not Having An Objective.

We should have an objective, a goal, for our investments. Goal based investments results in the realization of our future dreams. If we have a goal of buying a house or putting our child into a medical school and plan our investments around that, we have a good chance to make that happen in the future. Many of us dream of such things, but never plan their investments to meet that goal.

Wrong Timing.

This is the most common of all the mistakes. When making an investment one should pick the right moment. No, I am not talking about “shubh mahurats” or auspicious timing here, I am speaking of the right economical timing. When the economies are not doing good, there are bad economic reviews everywhere and the companies are in doldrums. It’s a good time for an investment. Blue chip stocks are available on “sale”, fixed deposit rates are hiked due to higher stock market risks and high inflation, real estate prices are attractive due to slump in demands – these are excellent times to invest in these instruments. However, remember that investment timing varies for different types of instruments as each of these react differently in a situation.

Over Investing. People do not allocate their money while investing. An allocation is necessary to spread the risk of investments in different instruments. This allocation should be made with regard to the age and risk profile of an investor. If one invests 70% of his annual funds into shares and the rest in fixed deposits, in his 40s, he is taking a big risk. If a salaried person, invests 80% of his monthly salary in fixed deposits only, is not giving his money a good scope to grow. Over investing is either “putting all the eggs in one basket” or investing all the time. I know people who buy shares almost daily saying that they are investing for the long term. It is critical to understand that investments should be done in an “investment window”, an opportunity, which comes once in a while; not all the time.

Not Researching

I know that people are computer-savvy these days and they would certainly research before committing. But how many of us go beyond the tips and research reports to pause and think that these are genuine and not some marketing ploy? Internet is a fantastic tool to research, but there are good sites. Which steers an investor in the right direction and there are marketing sites, which in the name of providing research, review and comparisons, try and promote their products. I am not saying that all of these sites are bad or promoting only, but many of them actually are. A research should be based not only on what others say, but also taking one’s own situation into consideration and applying a common sense judgment over it.

Not Recording

Although most of us do keep records of their investments. These seldom reflect the true net-worth or whether an investment is keeping with the plan or not. We keep records for the sake of filing our Income Tax returns only. A proper record should reflect one’s net worth, net returns from investments, net income, net expenditure, etc. So that one can plan for the future and keep an eye whether the investments are doing good or not. There are many modern softwares which does all this and more and I will discuss about them in the near future.

7 Pros and Cons Loans

7 Pros and Cons of Unsecured Loans

7 Pros and Cons Loans

7 Pros and Cons Loans – Unsecured loans are loans that have no collateral, like a home or a car or stock, backing up the loan and available to the lender if the loan goes bad. These loans are issued solely on the promise of the borrower to pay it back according to agreed upon terms. These loans are also known as signature loans.
Usually unsecured loans are for one time expenses like a medical bill or help in meeting a down payment on a home or expensive auto or perhaps taking advantage of a lower interest rate to pay off other, high interest rate debts. Here are a few of the pros and cons of unsecured loans that you should be aware of. 7 Pros and Cons of Unsecured Loans.

1. IOUs

Perhaps the simplest of unsecured loans is the old IOU where the borrower gets funds from a friend or family member. There’s usually a reason why the borrower is going to a family member rather than a financial institution.

2. Credit Cards

The most popular form of unsecured loans is by far and away the billions in credit card debt that consumers rack up each year. You purchase an item with what is essentially a loan or credit and you sign a form promising to pay it back. While the credit card company is paying the merchant for your purchase. In the past, if your credit rating slipped, the card company could arbitrarily increase the interest rate you pay some going as high as 30%.

3. Banks and Credit Unions

How much you qualify for and at what interest rate depends on your credit worthiness. Credit unions typically have lower rates for unsecured loans and if you have good credit. Getting the loan should be no problem.

4. Astronomical interest rates

If you have bad credit and you go for one of the short term loans you could be paying as much as 400% APR. Consumers don’t really see it that way because those loans are usually so small (less than $1000) all they are really concerned with is what the payment is. For example a $250 loan for 2 weeks will require a total payback of $234. $34 doesn’t sound like much to a consumer who needs cash now but it is a huge profit for the lender.

5. Unsecured loans can be discharged in bankruptcy

If you have to file bankruptcy, chances are your unpaid unsecured loans will be totally discharged as they have the least rights to assets in a bankruptcy. Any loan that has collateral securing it, like an auto loan or mortgage is treated differently.

6. Unsecured consumer loans fall under the Fair Debt Collection Practices Act

Unsecured consumer loans like credit cards are covered under the FDCPA. The consumer is offered some protection from the behavior of collection agencies should the loan default. For example collectors can not make harassing calls. Call you at work, threaten law suits when they have no intention to sue and a host of other restrictions. The law also allows to sue collectors who violate the act and the consumer can receive up to $1000 plus attorney’s fees.

7. Know your number

Lenders will obviously want to see your credit report and FICO score when considering your application. The better the credit history. The better the FICO score the better position you are in to negotiate a lower interest rate. Federal law allows you to get a copy of your credit report free once a year. Download it from the free site and review it for accuracy.
Unsecured loans have their place but it is imperative you understand the terms and conditions before you sign. Always deal with a reputable lender when seeking out these types of loans. Selecting the wrong lender could end up costing you thousands.


High Risk Loans

High Risk Loans

High Risk Loans

High Risk Loans – If you know your credit score stinks, then choosing one of the high-risk loans can help you get the cash you need in your pocket fast. When you know you need a little financial assistance, you can turn to online lenders to help you in a pinch. These lenders can help you with many different types of loans and you can get cash in your bank account the same day, if necessary. The best part is they specialize in bad credit, so you don’t have to worry about what your report looks like. Some of these lenders don’t even check your credit, which can be very helpful.

Fast Cash Bad Credit Loans

The easiest type of high-risk loan to get is going to put up to $1,500 in your pocket with 24 hours. Most know this type of loan as a cash advance or payday loan. These fall in the personal loan and signature loan categories and they won’t require a credit check. If you need cash fast, this is the type of loan you want to consider because you can put cash in your pocket within a few hours, in most cases. Simply apply online, become approved, fax in any necessary documents (usually pay stub, copy of ID, and a utility bill), electronically sign your loan documents and get your money.

Unsecured High Risk Personal Loans

Another type of loan you can get if your credit is ugly comes in the form of an unsecured high-risk loan. These loans don’t require collateral, but they will not be all that easy to get. They are often reserved for those with good credit, but some lenders will work with bad credit, as well. It may take up to a week to become approved and get your money, but you can get much more with this type of loan. These personal loans can give you up to $25,000 and often will have a much longer term than other loans. You may get up to 5 years to pay the loan back and this can really help when you need money in a crisis and a few hundred dollars won’t cut it.

Peer 2 Peer or Person 2 Person Loans

Another online loan you can use if you have bad credit is known as a P2P loan. This type of loan website actually connects individual investors with those seeking loans. They can help you get the cash you need very fast and this can really make a difference. Most of the time you can get your loan within a week and the individual investors won’t look too closely at your credit rating. They base the loan on what you have to say and how equipped you are to pay the loan back.

Co-Signer Loans

If you cannot become approved for the loan you need, don’t have any collateral to secure it, and need more than a cash advance offers, then a co-signer may be necessary. You will need someone with good credit that can vouch for you by signing the loan documents, as well. They will be at risk if you don’t pay the loan back and it may be hard to find a co-signer, but you might not have any other option.

Pawnshop Loans

However, if you cannot find a co-signer and the other options above don’t work for you; it is possible to get a pawnshop loan. This is a very easy loan to get, but you will need collateral. The good news is they don’t require the collateral to be a property you own or a vehicle. They will accept jewelry, electronics and pretty much anything of value. Most of the time you will get about half or a little more of the actual value of the item, as the loan amount. You will have 90 days to pay the loan back and get your item out of pawn, in most cases.

When you have bad credit, it can be difficult to get a loan, but if you get creative, you can find the money you need. If all else fails, you can go right back up to option #1 and get a cash advance online. This is probably the most popular type of online high-risk loan out there because of the quick turnaround. The good news is some companies actually give you up to 100 days to pay your cash advance back and they will give you lower payments because of the longer amount of time.

4 Common Buy Here

4 Common Buy Here

4 Common Buy Here

4 Common Buy Here – If its Buy Here, Pay Here you can finance a lot of car for little money:

This can be true but is mostly false. I think this misconception came from the way things were years ago. Even 3-4 years ago you could get away with it but not in today’s environment. Lending practices at one point were very loose. You could get a new car with $500 down, a 650 credit score and a steady job.

But that type of thinking is what got us into this mess in the first place. Why would you want to revert to something that got you into a messy financial situation again? The thing is that we get people walking in all the time trying to put $500 down on a 10k car. Well the problem with that is most of the people we deal with people in a tough situation. Why make your situation even harder by taking on a loan you cannot afford? 4 Common Buy Here.

That $500 won’t even cover your taxes which in turn won’t put anything towards the principal of the car. This will keep your payments high and the interest has the potential of eating you up in the long run. The best thing you can do is put more money down towards the price of the car. We actually make much less money when you do this because it lowers your payments and the interest doesn’t cost you as much over the course of the loan. 4 Common Buy Here.

All the cars in Buy Here, Pay here are pieces of junk:

This has some merit but so does buying a car at a franchise new or used dealership. Really, it comes down to the management. What kind of work are they putting into their cars? Are they going for the cheap quick fix or are they trying to get a customer for life? Do they check their cars when they come in? Do they perform safety inspections? Will they let you take the car to an independent mechanic? These are all questions you must ask the dealership. If they say no to any or all of these then you should be suspicious.

The thing is a carfax only does so much these days. Everyone has to have a Carfax or they can’t tell. While its nice to have one it doesn’t really tell the whole story. So, when you get to a BHPH make sure that you’re dealing with the right people. There are plenty of cars I have seen come and go out of a BHPH that have lasted a long time. It works both ways. Its the dealerships job to make sure they are getting you into a good running car but its your job to maintain the car.

Buy Here, Pay Here is just another car dealership:

Well Kind of. Buy Here, Pay Here car lots do sell cars. There are salesman and there is a finance department just like any other dealership. Some of them have mechanics on hand as well.
What you really should look at a BHPH car dealership as is a place to qualify you. Things work backwards at a BHPH according to what you’re used to. The first step in the process is to get you qualified for a car. While at other places the first step is to sell you a car.

Those were in the good ol’ days when everyone could get financed. It didn’t matter how good or bad your credit was. Its different now. You may not get qualified for everything. A BHPH dealers job is to fit you into a car you can afford. They don’t want you to fail. They don’t want you to get stuck in another tough financial situation. it is in their best interest to get you into a car you can pay on time.

Because its a BHPH you can get into any car you want:

This is simialr to 2 of the common misconceptions above but not entirely true. I see a lot of people come on to the lot and expect to get into a really nice car. When I suggest something else they respond “but isn’t this a buy here, pay here”?

Well yeah it is but that doesn’t mean we want to put you into a situation where you will fail. Everyone wants a nice car but the reality is not everyone can afford a nice car. You have to not only consider the payments but also the maintenance and insurance that goes into owning a car. You also should prepare for unexpected mechanical fixes and keeping up with basic maintenance. Putting you into a 20K car is only going to set you up for failure.