Personal finance as a term wasn’t brought up or even talked about amongst friends while I attended college 2 years ago. In fact, I only remember it vaguely discussed by professors. Many people in college have the responsibility to create their own income, to remain in college. Study full time, work part time, social life-no time. That time spent earning their way, whether it was for school or to have money to go out with friends, it was a meaningless burden to me. People like this understood personal finance better than I did after 4 ½ years majoring in Accounting and Finance.
It seems there are plenty of companies offering debt consolidation and it can be a tempting proposition to gather all your debts into one place (so much easier to manage) while at the same time cut the amount of interest you are paying overall – what’s not to like about that?
Debt consolidation is, quite simply, about reducing the amount of interest you pay on all of your debt – so loans but also credit cards. Maybe you took out expensive loans a while back when interest rates were higher or your credit score was not as healthy as it is now. Maybe you have borrowed up to your limit on an expensive credit card?
Business people and individuals often find it more advantageous to apply for loans from lenders than mainstrean banks – why are certain lenders better than borrowing from a bank? There are a number of commonly cited reasons for this trend, one that’s become quite pronounced since the financial crisis several years ago – a […]
When it comes to borrowing money, there are many alternatives at our fingertips. One of the most important decisions that you will have to make in this area is whether to opt for a secured or unsecured loan. These are different in several ways, making them more suitable for certain types of people. Here, we […]
Traditional home buyers will quickly discover that while owning a home may cost less and be a better investment than renting, the process of buying a home can actually be quite costly. Most lenders require a down payment to be made, and if you’re like most people, you’re working as much as you can and […]
The numbers suggest that around half of all American households carry credit card debt, with an average outstanding balance of $20,000. If this includes you and you’re spending sleepless nights wondering about the ways in which you can rid yourself of overwhelming debt, you need not fret as you are not alone. We know that […]
Having a certain amount of debt is pretty much normal these days – many people have a home loan, car finance and a couple of credit cards. Often we don’t even think about that being debt – it’s just the way we live. But it’s when we start to struggle to meet our repayments that […]
Money problems arise everywhere in both personal and business situations. It is tough to manage the financial side of things while running a business. Even global companies face this problem at some point in their life and to tackle budget issues every company needs to plan in advance for their future needs. If you are […]
These economical household money management tips I am about to share with you will help you keep more money in your wallet. When it involves family money management, these are straightforward approaches that my family uses. In fact, speaking from experience, if you begin to put these money saving tips to use, you’ll be pleasantly […]
Even a low-income earner can become financially wealthy; studies show that the correlation between income and wealth isn’t as direct as previously thought. The tale of a not-so-popular retiring lawn mowing man becoming a millionaire intrigues many who hear it. People wonder and get surprised when they hear his story but how he made his […]
Learning how to budget the money you made yourself can be difficult, especially if you just started your employment journey and independent living. From night-outs, new clothes, to hi-tech stuff and rent, there’s a lot competing for your hard-earned cash.
Here’re a couple of tips that allowed first timers like you to survive. These are money management tips for when you land your first job.
Business finance is a very important concept for all businesses – big or small. A business needs financing for establishing itself and also for its day-to-day operations. That is why every business manager needs to deal with the balance between long-term business finance and short-term business finance. This balance depends on a lot of factors and a mere whimsical decision is sure to result in business losses- a fate which every business manager wants to avoid. So, how does one achieve balance?
If you’ve recently been denied a bank loan and are struggling to make ends meet, you might be interested in other methods of borrowing to get the cash you desperately need. Some people are lucky enough to have wealthy family members or friends that can provide them with a cash advance with no interest required. However, needless to say, that option isn’t available to many people, and that means you might need to explore other options. Of course, you might be worried that you’ll have to risk your home in order to secure a loan, but that’s not the case if you apply for a guarantor loan. Guarantor loans are often more accessible to those with a poor credit score than bank loans, and the money you borrow can be paid back over a period of five years if you need to keep the monthly repayments manageable.
A credit card is an addiction. It all depends on the user how he or she uses it to gain or lose money. If you really want to play safe, then you need to learn some tips for saving money while making payments via credit card. Here, we go; Check for the Lower Interest Rate […]
Money at university is a very fragile thing. You need to keep an eye on every last penny and absolutely every penny counts. Keeping an eye on your student loan is a very good way to keep your costs down, so we’ve compiled a list of some of the best money saving tips for when […]
It is easy to become overwhelmed by debt and do nothing but worry about it but if you focus on just reducing the smallest debt first that is a great step in the right direction. The smallest debt will be the easiest to reduce so just concentrate on that first. Once you have paid off the smallest debt then you can move on to the next smallest debt and so on. This approach makes managing debt much more… well, manageable. And it really works in a way that trying to tackle a bit of every debt you hold each month. So forget paying off a small amount on each credit card each month – just pay the minimum on all but the smallest debt. Once that’s gone simply repeat the process.
If you have long-term debts that you are struggling to pay off then it makes sense to look at ways to resolve that problem before it becomes insurmountable. Take serious stock of your situation first and see if there is any way you can pay just a little bit more off your debt each month. Just paying a small amount more can have a big effect and gradually help you regain control of your debt situation. But you won’t regain control until you start being pro-active in reducing your debt. This may mean taking a long hard look at your spending habits and lifestyle and prioritizing paying off the debt above anything else that isn’t absolutely essential. It will also mean reviewing the amounts you are paying and looking at ways to cut your interest rates.
Individuals that consolidate their student loans are often able to take advantage of lower, fixed, interest rates, effectively lowering their monthly payments and reducing the financial-related stress that many people are currently feeling. The tough economy has forced individuals to be creative financially and to entertain any and all financial arrangements that might help them save money. This has been especially true in recent years where there has been growth of guarantor loans where a parent or other family member with a good credit history guarantees the student’s loan repayments.
A person that consolidates their student loans stands to benefit in a number of ways. They are potentially able to reduce their monthly payments and secure a fixed rate via guarantor loans or other types of loans for bad credit siuations. An individual might also be able to take advantage of those student loan re-payment plans specifically designed for those having a tough time paying back what they owe. A poor economy coupled with layoffs has made it necessary for many people to consolidate or make other special arrangements.
When individuals are mired in debt, they have a number of options available to them. Cutting back, budgeting and bankruptcy are but a few of them. Debt consolidation is another. Consolidating debt has become a pretty common way for people to decrease their debt burden and for several notable reasons. It’s a fairly easy process […]
College life is all about learning responsibility. There’s no one around day in and day out to push you to go to class or even to nudge you in the right direction. This is called adulthood – it’s when you have to make all of your own decisions and reap whatever consequences they sow. While […]