The Best Advice Ever About Money

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Wanna know the best advice ever you can get about money?

Here it is…

Let’s say that you are getting regular monthly salary from work and you are happy with it. Now, at the end of the month (and most of the time, two days after you get your paychecks), you wonder where all your money is gone.

You begin reasoning.

30% of it goes to house mortgage.
20% of it goes to car payment.
10% of it goes to credit card payment.
5% of it goes to utility bills.
etc, etc, et…

finance, make money, internet marketing, internet business, business opportunity

Wanna know the best advice ever you can get about money?

Here it is…

Let’s say that you are getting regular monthly salary from work and you are happy with it. Now, at the end of the month (and most of the time, two days after you get your paychecks), you wonder where all your money is gone.

You begin reasoning.

30% of it goes to house mortgage.
20% of it goes to car payment.
10% of it goes to credit card payment.
5% of it goes to utility bills.
etc, etc, etc…

“That should be fine. I’ve got all taken care of. Next month, I’ll get another paycheck and the same cycle goes on and on… enough for me to survive the whole life.”

Well, you gotta be careful now.

What happens if your car broke down?
What happens if your kitchen needed renovation after a heavy storm last night?
What happens if you suddenly forgot that you’ve overspent your credit card?
What happens if you fell sick?

Things could be worse, and now is the time that the cliche “Fix your roof on a sunny day” is very much true to you.

You don’t want this to happen to you, right?

There could be thousands of things that could go wrong in our lives but unless we realize that we need to prepare for the worse, we’ll never get ahead of ourselves.

Sometimes, fixed salary could be a good thing for you because you can plan with what you want to do with your money on a predicatble basis. Though I strongly believe that you still need a secondary income – preferably a recurring secondary income – to improve your financial situation at any level.

And, the best plan to improving your financial situation is…

PAY YOURSELF FIRST.

That’s right!

Regardless if you have $300,000 of house mortgage or a $100,000 savings in the bank, make it a habit to pay yourself right after you get your monthly paychecks. This habit will definitely help.

Let’s see…

You’ve been paying everybody you owe every month. You pay the bills, the banks, the mechanics, the who knows who and you actually get nothing, except settling the scores.

There’s just another person that you forget to pay – that is YOU.

Imagine yourself as a bill collector on yourself. No matter what, you have to pay yourself at the beginning of every month (I suggest 10% of your salary. The more is better) – or else you cease to function as yourself.

Never fail to pay your SELF and only after you pay yourself, then you pay the others.

Hard?

Yes, at first, but once you put the action of “Paying Yourself First” into habit, you’ll actually enjoy doing it, knowing that you do good deeds to yourself.

Try it once. Then do it the second month. And then, another… and another.

PAY YOURSELF FIRST because you deserve much more than the other bill collectors.

Hawaii Bankruptcy Law $10.00 Astonishing Alternative

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If you can set aside $10.00 and invest it into a proven program that can create financial freedom for you in 60 days would you consider it as an alternative to filing for the Hawaii Bankruptcy Law? There is an alternative available to YOU right now that will not only give you back your good nights sleep but also carries no negative consequences along with it like taking action on the Hawaii Bankruptcy Law does.

hawaii bankruptcy law

If you can set aside $10.00 and invest it into a proven program that can create financial freedom for you in 60 days would you consider it as an alternative to filing for the Hawaii Bankruptcy Law? There is an alternative available to YOU right now that will not only give you back your good nights sleep but also carries no negative consequences along with it like taking action on the Hawaii Bankruptcy Law does.

In the next few minutes you are going to discover a simple system that can get you out of debt without any work on your end and can be implemented immediately anywhere in the world. In as little as 1 hour from now, you will know how to create a FREE online account that can clear up ALL of your existing debt in 2 months and then go on to establish the wealth you want throughout this year so you can start enjoying your life again.

Before we discuss all the details that this opportunity has to offer YOU AND YOUR LOVED ONES, let me share with you quickly why I wrote this article in the first place. I have been helping people improve their finances for the past 10 years and working online since 2003. I recently did a search on Overture to see how many people are looking to file for bankruptcy in the hopes that I could help and I was saddened to see that Hawaii Bankruptcy Law was searched for over 10,000 last month. This fact could provide you some comfort in knowing that you are far-from-alone in the situation you face and that there is someone out that who is looking to help you turn your finances around today.

I have made it my job to present you with an a-s-t-o-n-i-s-h-i-n-g alternative to filing for the Hawaii Bankruptcy Law because I have been blessed with financial freedom and have access to important information that you may never even knew existed since your debt must be foremost on your mind. It should put your mind at ease to know that the system I am going to tell you all about in a moment costs a lot less than Hawaii Bankruptcy Law filing fees, works faster than the preceding process and allows you to not only keep your current assets but will create more wealth then you’ll know what do with in less then 1 year!

Did you read the last line?

“Create more wealth then you’ll know what to do with in less then 1 year?

Hard to believe BUT true and I am going to prove it to you.

The only thing you have to do is invest the next half an hour studying the system I am about to share with you and then you can decide whether you are going to act on the advise that can create financial freedom faster then anything else out there or choose the Hawaii Bankruptcy Law as your only other alternative. The solution I offer is not only the more affordable way to go but could quite possibly be the most exciting opportunity you will ever encounter in your life. It was the best decision I ever made along with over 48,329 other every day people facing the same situation you now are and I would be happy to help you every step of the way while getting started.

If you can afford a cup of coffee every morning then you will have no problem finding the necessary funds to participate in this program. You can start with as little as $10.00 and turn it into $9,567.06 within 1 year or start with $20.00 and make more then the Average Yearly American Salary which is $39,795.00. Would $39,795.00 eliminate most of your existing debt?

Did you know that it could cost as much as $200.00 just in filing fees and take up to 6 months before finding out if you have been approved for bankruptcy discharges? The same $200.00 and in 6 months with this system can create $231,537.66 profit in your pocket. Of course, you would be responsible for taxes but there will be A LOT left over for paying off your debts, spending on relaxing vacation and anything else you desire.

Don’t believe me…then you do the math and see for yourself that what I am saying is accurate.

STEP 1:
Go to http://aurumgames.com/calculator.php and type in $200.00 in the DEPOSIT box. Next, type in the number 3 in the INTEREST box and then type in 60 days in the INVESTMENT PERIOD box. Make sure you check off the COMPOUND field before clicking the calculate button. Last but not least, scroll down to the bottom of the form and click the CALCULATE button.

If you typed in the figures I provided you should have come up with a Total Value of $1,178.32.

Remember, we are going to have to repeat this process 2 more times for a total period of 6 months to prove my point above.

STEP 2:
Now, go back to the top of the form and type $1,178.32 into the DEPOSIT box. Next, type in the number 4, because your interest has range has increased due to the new amount, in the INTEREST box and then type in 60 days in the INVESTMENT PERIOD box. Make sure you check off the COMPOUND field before clicking the calculate button. Last but not least, scroll down to the bottom of the form and click the CALCULATE button.

If you typed in the figures I provided you should have come up with a Total Value of $12,395.49.

STEP 3:
Once last time, go back to the top of the form and type $12,395.49 into the DEPOSIT box. Next, type in the number 5, because your interest has range has increased again due to the new amount, in the INTEREST box and then type in 60 days in the INVESTMENT PERIOD box. Make sure you check off the COMPOUND field before clicking the calculate button. Last but not least, scroll down to the bottom of the form and click the CALCULATE button.

If you typed in the figures I provided you should have come up with a Total Value of $231,537.66.

Now do you believe me?

We are talking over TWO HUNDRED THOUSAND DOLLARS HERE so if you did not take those 3 simple steps above please write them down and prove it to yourself when you are finished with this article.

I am personally involved with 2 such powerful programs and the interest rate ranges we used in the example above ARE real!

I invite you to take an eagle eye look into this precise program by going to www.lazy-way-to-wealth.com and ask yourself seriously before considering taking action on the Hawaii Bankruptcy Law, could this be the answer you have been hoping for? If you answer with a WHOPPING YES that this is the p-e-r-f-e-c-t program for eliminating YOUR present debt problems, then please e-mail at theprovenpath@optonline.net and put “Hawaii Bankruptcy Law?in the subject field so I can better assist you personally.

Please feel free to e-mail me anytime at theprovenpath@optonline.net if you have any questions pertaining to this article.

Best Wishes and Wealth Your Way!

Jamie Briggs

Fraud Facts And Tips To Help You

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You can save yourself time, trouble and money if you know how to recognize–and avoid–some of the more common scams.

Fraud Facts And Tips To Help You

You can save yourself time, trouble and money if you know how to recognize-and avoid-some of the more common scams. Here’s a look at one that could happen to you.

The Scam

You place an ad for your collectible, motorcycle or electronic equipment on a specialty Web site.ÊYou’re contacted by a buyer. Everything appears legitimate. You even receive a cashier’s check overnight. The only problem is the check is written for $5,000 over the sale price. The buyer says it was an error and asks you to deposit the check and refund the overpayment using a money transfer service. A week later, your bank informs you the check was fraudulent. No funds have been deposited into your account. Unfortunately, the item has already been sent, along with $5,000 in cash.

When the payment is found to be a fraud, the funds are withdrawn from your account. In this type of scam, you could lose both the amount of the overpayment and the item you were selling. Because some banks allow funds to be drawn before an item has cleared, you might not learn of the fraud until it is too late.

The Solution

Before sending a money transfer transaction, consider these suggestions:

1. Don’t use a money transfer service to send funds to someone you don’t know.

2. Be wary of a buyer who is anxious to complete a transaction immediately. Most genuine buyers spend time asking questions and negotiating the price.

3. Check with your bank to find out how long it will take the check to clear. Just because the bank has given you access to the funds, that doesn’t mean the check has fully cleared.

4. Wait until the check has cleared before sending the amount of the overpayment.

5. Remember the old adage: If a deal sounds too good to be true, it probably is.

Money transfer companies such as Western Union want to create a greater awareness of the various types of consumer fraud. If you feel you’ve been the victim of fraud, contact the Attorney General, other local law enforcement officials and your bank.

Is Filing For Bankruptcy The Solution?

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Bankruptcy may seem to be an easy solution for major financial problems. But it is always better to avoid filing bankruptcy at all cost and to turn to it only as a last resort.

bankruptcy,avoid bankruptcy,debt consolidation,chapter 7 bankruptcy

Bankruptcy may seem to be an easy solution for major financial problems. But it is always better to avoid filing bankruptcy at all cost and to turn to it only as a last resort.

Once you file for bankruptcy, this point will remain on your credit record for ten years. This will make it difficult for you to receive loans and credit. Some lenders may allow for limited credit with bankrupt; but only after extensive explanations, and at a higher interest rate and with added credit fees. Another reason for avoiding bankruptcy is that some types of bankruptcy call for repossession of assets. Once the bank finds that there is something with you that is not necessary for living, the item may be seized to pay for debts and bankruptcy expenses.

With bankruptcy, financial difficulty will not be solved and your life becomes an open book as the court pries into all aspects of life wherein you will have to provide all financial information like savings, investments and assets. Though bankruptcy may seem to suggest some freedom from financial debts, there may be other debts that will have to be paid like alimony, court judgment costs or child support.

So keeping these points in mind, it is always better to avoid bankruptcy. Debt consolidation is one of the best means of avoiding bankruptcy. These companies help you by examining your current loans and come up with a program that incorporates all these debts. The company handles the payment to all the creditors; you just have to make a single payment to them every month. They will also get you a lower rate of interest and a longer time period to repay the loans, thus making you save some money.

Easy access to credit cards and credit accounts at department stores has now made it rather easy to fall into debt. It is better to pay bills with cash, and not use credit when money runs low. So cancel the credit card account! If you fall in debt, instead of hiding from the debt companies, it is better to talk to them as they may be able to negotiate and help you solve your debt. It is always better to plan a budget calculating debt ratio to income when in debt. Just write all the bills and expenditure that you have. Then you can determine how much has to be paid for bills, and how much is left for other spending. If required, you can also sell your home and downsize to avoid bankruptcy.

The only benefits of filing for bankruptcy are that the stress of dealing with numerous creditors is relieved. Once bankruptcy is discharged, as most of the debts get written off, creditors cannot pursue them. However, the disadvantages to bankruptcy are many. Businesses can be sold and employees dismissed with bankruptcy. Equity in a home is most likely to be sold as with bankruptcy, reliable assets of value are lost.

Bankruptcy is a costly process where all the fees for courts and trustee are drawn from the debtor’s assets. On filing for bankruptcy, it is not possible to hold certain public offices like MP, magistrate or even practice as an accountant or a solicitor. Moreover, with the new bankruptcy reform law, it is difficult to use Chapter 7 bankruptcy to get a new start in one’s financial lives.

Under the old law, one could file for bankruptcy through Chapter 7 or 13. In Chapter 7, you can keep your exempt property like the equity in your home. Here most of the debts are discharged. However, in Chapter 13 bankruptcy, you have to agree to pay off all your debts over a period of three to five years. So according to the new bankruptcy law, most of the bankruptcies are forced to file for Chapter 13 bankruptcy.

Moreover, according to the new law, you have to meet with a credit counselor for six months before applying for bankruptcy. However, as there are insufficient credit counselors, it is rather hard to accomplish this. It is also required that you attend money management courses at your expense before discharging your debts. However, it is always better to approach a good bankruptcy lawyer before taking any steps!

Understanding The Importance Of Your Credit Score

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Credit scores are become a more and more important factor in our society. Now a days it is often used in determining prices for both auto and homeowner insurance. Many employers reserve the right to do a credit check of job applicants, in the same manner they reserve the right to drug test potential employees. The fact is that your Credit Score is important.

credit score, establish credit, rebuild credit, repair credit, imporve credit score, Equifax, Empirica, Experian, TransUnion

As recent as a few years back, the term “Credit Score” was not very commonly used in our society. While there were who understood the term and its purpose, the mass majority, although realizing that there was a system out there that their credit, they did not have a term to stick to it.

Today, however, due to a number of factors such as increase Identity Theft and mass media marketing campaigns there are very few who are not aware of the term Credit Score. The goal of this article is to add understanding on the personal to the recognition of that term.

A Credit Score is a number between 300 and 850 based on a statistical analysis of an individual’s credit activity. It is used to represent the credit worthiness of an individual. How likely that the individual will pay his or her debts. A credit score is based on their credit report information which is typically sourced from credit bureaus and credit reference agencies, typically from the three major credit bureaus.

Lending institutions, such as banks, finance companies, mortgage lenders, and credit card companies, use an individual’s Credit Score to evaluate the potential risk posed by lending money to that individual. Lenders use Credit Scores to determine who qualifies for a loan, at what interest rate the loan is issued, and what credit limits are determined.

The use of credit scoring prior to granting credit is a trusted system throughout the industry. Credit scoring is not limited to banks, however. Organizations, such as mobile phone companies and government departments employ the same techniques.

While there are many others, such as NextGen, VantageScore and the CE Score, The most widely known score in the United States is FICO, which is most widely used in the mortgage industry. FICO is an acronym for Fair Isaac Corporation, the company that provides the most well-known and most widely used credit scoring system in the United States.

The FICO score is calculated by applying statistical methods, developed by Fair Isaac, to information in one’s credit file and is primarily used in the consumer banking and credit industry. FICO scores show how likely it is that a borrower will default. No public information is available to determine what the scores mean in terms of statistics. A separate score, BNI, is used to indicate likelihood of bankruptcy.

As stated, banks and other lending institutions use Credit Scores as factors in their lending decisions. Whether credit is denied or approved, what interest is charged, what income level and asset verification is required is all based on an individual’s credit score.

The FICO score actually uses slightly different scoring methods to rate a consumer’s suitability for three different types of credit; mortgages, auto loans, and consumer credit. Each reflecting the different credit risks of these various types of lending. It is not unusual for these scores to differ by as much 50 points or more for the same borrower.

There are three major credit reporting agencies in the United States. Although often times inaccurately referred to as “credit bureaus”, these agencies; Equifax, Experian and TransUnion, also calculate their own credit scores. These additional scores differ depending on what they are meant to predict, what statistical methods used to determine a score, and what information is used and how it is weighted.

These additional Credit Scoring Systems are numerous and are agency specific. For example, Beacon, Beacon 5.0, Beacon 96, and Pinnacle scores are available only from Equifax. Empirica, Empirica Auto 95, Precision Score, and Precision 03 are available only from TransUnion. And, Fair Isaac Risk Score at Experian.

These various Credit Scores are developed for the different agencies by Fair Isaac, each differs and are periodically updated to reflect current consumer repayment behavior habits. The NextGen Score is a scoring model designed for consumers.

In an effort to make credit scoring more consistent across the board, in 2006 the big three credit reporting agencies introduced Vantage Score. Vantage Score uses a different number range from the FICO score. It ranges from 501 to 990 and also assigns letter grades from A to F to specific ranges of scores.

A consumer’s Vantage Score may differ from agency to agency, but the difference would be entirely due to differences in the information reported to the various agencies, not due to differences in scoring systems. Since FICO is still widely used by lenders, the agencies continue to offer FICO scores (or their closest equivalent) as well.

Most credit scores use a multiple-scorecard design. Each version may use individual scorecards, and an individual potential borrower is typically compared with other previous borrowers. In other words, a borrower with one 30-day late payment will be scored against a population with some similar delinquency. A borrower with two 30-day late payments will be scored against a population with like credit faults. The individual is then graded according to which variables indicate a risk within that group.

Nearly all large banks also build and use their own systems for credit scoring purposes, and are often times in conjunction with outside scoring formulas.

The systems used to generate credit scores are subject to federal regulations. The Federal Reserve Board’s Regulation B, which implements the Equal Credit Opportunity Act, expressly prohibits a credit scoring system from considering any “prohibited basis” such as race, color, religion, national origin, sex, or marital status. It also stipulates that credit scoring systems must be “empirically derived” and “statistically sound”.

In addition, if an adverse action, a denial of a credit application, is taken as a result of the credit score then the specific reasons for the denial must be provided to the individual denied. The statement “credit score not high enough” is insufficient. The reasons for denial must be specific; “too many delinquencies 60 days or greater” and such.

Credit scores are designed to measure the risk of default by taking into account various factors in a person’s financial history. Although the exact formulas for calculating credit scores are closely guarded secrets, the Fair Isaac Corporation has disclosed the following components and the approximate weighted contribution of each:

  • 35% punctuality of payment in the past (30 Days Past Due)
  • 30% the amount of debt, expressed as the ratio of current revolving debt to total available revolving credit
  • 15% length of credit history
  • 10% types of credit used
  • 10% recent search for credit and/or amount of credit obtained recently

These percentages offer a limited guidance in understanding a credit score. For example, the 10% of the score allocated to “types of credit used” is undefined, leaving consumers unaware what type of credit mix to pursue. “Length of credit history” is also a murky concept; it consists of multiple factors two being the oldest account open and the average length of time an account has been open.

Interestingly, although only 35% is attributed to punctuality, if a consumer is substantially late on numerous accounts, his score will fall far more than 35%. Bankruptcies, foreclosures, and judgments affect scores substantially, but are not included in the very vague pie chart provided by Fair Isaac.

A FICO score generally has a max of 850 and a minimum of 300. It exhibits a left-skewed distribution with a median around 723. The performance of the scores is monitored and the scores are periodically aligned so that a lender normally does not need to be concerned about which score card was employed.

Because the three major credit agencies have their own, independent databases, each of us actually has three credit scores for any given scoring system. As these databases are independent of each other, they may contain entirely different data. Many lenders will check an applicant’s score from each bureau and use the median score to determine the applicant’s credit worthiness.

As a result of the FACT Act (Fair and Accurate Credit Transactions Act), each legal U.S. resident is entitled to one free copy of his or her credit report from each credit reporting agency once every twelve months. To guard against inaccurate information or fraud more often than yearly, one can request a report from a different credit reporting agencies available on the net.

This information is available from a number of websites across the net that offer an free credit report and use of their services for 30 days. After which, there is a monthly fee involved. The fee is nominal compared to the necessity of protecting your credit in today’s highly technological society where identity theft is becoming more prevalent.

In a time where identity theft and credit fraud in on the rise, the fee these firms charge seems like a small amount to pay to protect your credit and your good name. Having a good Credit Score is becoming more and more prevalent in our society. Here are a few examples of how:

In September 2004, TXU (a Texas utility company) announced it would begin setting individualized electricity prices based on credit score. However, due to negative press and pressure from the Texas Public Utility Commission, the plan was not implemented.

Credit scores are often used in determining prices for auto and homeowner insurance. Recently, some of the agencies that generate credit scores have also been generating more specialized insurance scores, which insurance companies then use to rate the quality of potential customers. These scores are unavailable to consumers.

Many employers reserve the right to do a credit check of job applicants, in the same manner they reserve the right to drug test potential employees. The fact is that your Credit Score is important. Rebuild-Credit.us is a sight committed to providing consumers with quality information concerning credit, how to get it, and how to maintain a quality credit score. It is recommended you take the time to visit them and read through the numerous articles and reports there.

Credit Card Fool

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Credit Card fool shows us how credit card companies make fools of us by use of late fees and penalties

budget, budgeting, personal budgeting, personal finance, cash, credit cards, debt, debt management

We allow the credit card industry to make fools of us and we do nothing about it. If someone told you that you were being made a fool of, wouldn’t you address the issue? I know I would.

Credit card companies have revenue of $76.03 billion dollars and the majority of this revenue comes from late penalties and over limit and cash advance fees. $29.2 billion came from late penalties, $15.2 billion from over credit limit fees and $3.04 billion from cash advance fees. This amount is 62% of the credit card companies?revenue and this does not include finance charges. Nice profit!

The above is the reason why credit card companies can afford to mail over 5 billion credit card offers per year. This equals to 6 offers per household per month. Maybe the $2 billion in postage alone is a reason why our government does not look into the credit card industry seriously.

Every bank and retailer wants you to have their credit card. Having their credit card enables them to make huge profits. In 2001 both Sears and Circuit City reported that over half of their corporate profits were from finance related revenue. Do you think this could be the reason why retailers always have an employee at the front door of their store offering you to sign up for their credit card and in return you receive a special gift or extra “so called?discount? Most special gifts and extra discounts end up costing you more than the original purchase due to finance charges.

I may not be able to confront these institutions that are trying to make a fool of me, but I can fight back by believing that “Cash is King?and using cash instead of credit will save me money in the end.

It’s a New Year and personal money management should be on the top of your list for 2006.

The advantages of day trading

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Historically, stock trading has been the domain of professional traders. Trading has been in essence a “private club” with restricted access. Day trading has changed that. For the first time, amateur traders have the tools (real time quotes and order execution) to compete with the professionals.

day trading, day trader, investor

Historically, stock trading has been the domain of professional traders. Trading has been in essence a “private club” with restricted access. Day trading has changed that. For the first time, amateur traders have the tools (real time quotes and order execution) to compete with the professionals.

Speed advantage of day trading

The key advantage of day trading is its speed. Now the technology is advanced enough to afford day traders the ability to receive and observe real-time price quotes tick by tick and to send electronically an execution order directly to the NASDAQ market maker. Electronic order execution is fast. Confirmations are received in seconds. Exiting trades is as easy and fast as entering the trade positions.

Control advantage of day trading

The other key advantage of day trading is the control of trading. Day traders are always in control of their own trading. They are their own brokers. They examine the financial data, ascertain the trends, and make their own decisions to buy or sell. Day traders do not have to worry about the price slippage. They monitor market prices tick by tick. During trading, at any point of time the trader always knows the stock’s best BID or ASK price.

Going home “flat”

At the end of the trading day, day traders close all of their trade positions and go home “flat”. Day traders do not need to worry about a “long” or “short” position – because they do not have overnight positions. Without any open positions, day traders do not carry any overnight risk exposure.