Author: Chillmaadi Admin

Are you flooded with bills, mailbox overcrowded, sick of taking phone calls from debt collectors, people knocking at your door at ungodly hours wanting their money, your belongings at the brink of being repossessed, losing your house the list goes on?

Yes, it is one of those things that we all dread, the fear of losing your belongings that you have worked so hard for and to see them gone just like that. It takes months or years to pay something off and yet it only takes a few minutes to have someone come along and take your pride and joy possessions. Looking for an alternative option to get your-self out of debt, and gain back what you have lost or going to lose. Than consolidate your debts today and become debt free with no more stress, start answering your phone today rather than running away from it.

Debt consolidation can help you overcome your personal finance debts and compile them into one payment in which you can make weekly, fortnightly or monthly depending on your circumstances rather than making single payments to all your bills. There is also free budgeting-advice services that help you take control of your finances and re-arrange them so that it suits your living expenses and enables you to spend your money wisely and manage your bills in a way that it’s consistent enough to keep your debt collectors happy.

Be smart and think smarter, get out of debt today. There is no need to take on the extra burden of being or feeling in debt and thinking that there is no way out. Help is there for anyone who needs it, it’s just the case of reaching out. Check out these links and gain your financial freedom, anything is possible.

Foreclosed homes, repossessed vehicles, these seem to surround us. Has every body become bankrupt overnight? Debts were always a problem. Loans were always unavoidable. Making life debt free is a tough challenge. Every man, woman and child is cursed with it. Reducing the burden of these debts is everybody’s wish. Everybody wants debt solutions to their loan repayment problems. There are many debt solutions available that help you achieve this.

People today are more receptive to making loans. Sometimes it is not their choice at all. Every time a credit card is swiped, warning bells go off in a conscientious borrower. Another loan that I have to repay!! Life styles today seem to be attuned to borrowing.. The loan can be either from money lenders, credit card companies or banks. With every loan comes the burden of interest rates and other fees. These then play havoc with monthly individual budgets. Problems with debts arise when people are not suitably aware of what they are getting themselves into. If proper debt solution strategies are worked out and things are carefully planned ,then the burden of loan repayment can be stopped dead in its tracks. Things need not get out of your hands. Steps can always be taken to prevent this downward slide.

Debt solutions are easy to implement. Interest rates are what break the backs of the borrowers. Tackling interest rates with the help of good counsel from tested and proven debt counselors is a good idea. These people are professionals and have through time learned debt solution techniques to reduce your loan and interest burden. They can suggest debt solutions that help you learn how to reduce high interest rates. A more pertinent reason to go to them is that your money lenders consider the act as one springing from a sincere desire to find a debt solution. This becomes a sign of goodwill. Once this is achieved, repayment of loans will no longer seem to bother you as much as it used to. With careful budgeting and planning of resources,we can all achieve an almost debt- free life. There are many companies, some online too, that offer to guide you through to a solution to your debt problems.

Before choosing a debt solution plan it is wise to read up and get to know all about the scheme you are opting for. Different debt solution schemes have different means of achieving the desired result. Research helps you plan your expenditures better. It is the first step towards a truly debt-free life. Find out all you can about debt management and debt elimination. Read up on how your credit card loan repayment works. Remember, self-help is the best solution to all your debt solutions. You need to be the first to make an effort towards leading a life that is not bogged down by debts and debt repayment problems. Don’t let repossession and foreclosure become a way of life. Try debt solutions techniques that suit you today!

Teens should have a job, chores that pay salary or allowance, and/or their own company, since as an internet-based store, like Cafepress. That is, they should have a means of earning money. This can be a part-time job.

Teens should have a checking and savings account. There should be a minimum amount of money that remains in these accounts, say $25-$100. Should the teen spend this money, then the teen must repay the account(s). Teens should learn how to balance their checking account.

Teens should be assigned some bill(s) to pay. Perhaps they should be required to pay a percentage of the telephone bill or their email account. This teaches them the responsibility of paying bill(s).

If teens have an interest in going to college, they should start their own college fund, putting in a percentage of their earnings, say 5%-20% should go into the college fund.

Teens should have an investments fund, investing in stocks, bonds, and/or collectibles. Maintain the fund in savings account until there is enough money for investments, e.g. a mutual fund.

Teens should learn how to budget. There are books for children and teens on how to budget that can be purchased from Amazon.com. There are also numerous websites on the subject of budgeting.

Teens should learn how to spend, e.g. discounts, wholesale buying, how to save for expensive items. They should not become spending addicts. They should learn how to buy certain types of products. There are online articles about how to buy products from toys to clothing to food items.

Teens should have a financial literacy hobby, such as collecting coins. Teens can also have hobbies that can be transformed into businesses, such as collecting used toys, books, CD’s, DVD’s that can be resold at flea markets, garage and yard sales, consignment shops.

Teens should know their financial dreams and/or goals. Is their financial dream or goal a profession, like film making, music, math or scientific inventions? They should work on the practical and possible goals within their great dreams or goals. What is possible for them as a teenager? Perhaps their financial dream is to have their own company or business? What is possible now. Perhaps a small online company linked to a free affiliate program, like The Toy Connection or VMC Satellite TV.

Again, teens should learn how to set practical, realistic financial goals leading to their great financial goal. What is possible for them as a teenager? These practical, realistic goals help teens to experience achievement while working towards the more non-practical goals.

Many people fail at financial goals by first setting non-practical, non-possible goals. What goals are practical and possible within the great goals and great financial dreams? A college fund, for example. Maybe a teenager can only afford to start a college fund with $100-$500 not thousands or hundreds of thousands.

Start with the $100-$500 and add to this a percentage of earnings from the teen’s company, chores, or job. If borrowing from the fund, repay with interest. Maintain focus on the financial goal. This is the same with a business or vacation fund.

It’s money, just like everyone else in the world today. But with seniors their income is fixed, there are very few options for seniors to increase their income. I remember sitting in the pharmacy waiting for my prescription to be refilled when an elderly gentlemen walked up to get his medications for the month.

My heart went out to him but he didn’t know it. He was bent over slightly and was very neat and clean. He held his check book in his wrinkled trembling hand as he waited for the girl at the counter to blurt out how much he owed.

Ok Mr. Smith that will be $211.13 for today. I wondered how he would pay this amount of money all in one shot. Come to find out he didn’t, he could only afford a few pills from his Rx and a few from his wife’s Rx. And there I sat with my prescription card from my hubby’s work and would only pay $10.00 for my costly monthly meds.

There is one option out there for Mr. and Mrs. Smith. It has been around since 1961 when it got a bad wrap because some seniors were taken advantage of or misled.

Back then the heirs of these seniors had to pay the penalties upon the death of these seniors. The lenders turned to these heirs to repay the loan when the loan amount exceeded the value of their home.

In 1989 the federal government stepped in when President Reagan was in office. Now these heirs are protected from this penalty because HUD (Housing and Urban Development) now has the ability to insure reverse mortgages.

Obtaining a reverse mortgage can be challenging to say the least but it certainly pays off when the paperwork is all done and Mr. and Mrs. Smith are receiving an income from their home equity. They will never lose their home as long as it remains their primary residence.

You know I could go on and on about this little known product to help the seniors and their families but I don’t want to get in too deep here. If all other options have failed to help your elderly parents, then I suggest researching the reverse mortgage.

When a couple are used to relying one two incomes to stay afloat, it can be frightening to have to get by on just one income. Circumstances can change overnight, disturbing a family’s sense of financial security, such as being made redundant or having a serious accident that results in lifelong disability.

A drastic change in circumstances does not mean that bankruptcy is the next step. A family can often make changes that will allow them to stay afloat temporarily or permanently.

Eat out less often

Eating out is so popular and convenient. It takes away the trouble of having to prepare a meal from scratch after a long day at work or getting one ready for a packed lunch. The money spent over a given week, month and year will quickly rise. Add the cost of coffee, snacks and the money will increase even further.

For the spouse who is still employed, they can save a lot of money by taking a packed lunch in with them to work. It does not have to be a sandwich day after day.

Leftovers heated back up will work just as well and a variety of items will help prevent boredom. This is a much cheaper alternative and will save a lot of money over time that can be put towards more pressing expenses.

Make a budget and stick to it

A budget can help a couple see what their total income is and where their money goes. Cutbacks are easier to make if they can see for themselves what they need to spend to keep within their means. This may mean shopping in bulk and keeping an eye out for sales.

Reduce or pay off outstanding debt

Not everyone is in a position to completely clear the debt that they have built up. Credit card companies love customers who only pay the minimum on their bill each month. One way to free up more cash for other essential expenses is to put money aside for the credit card company and then either pay a large chunk of it or the outstanding balance.

Paying off creditors will create a great sense of achievement. It will mean putting off buying a new vehicle or other luxuries for a while, but it is worth it if there will be more residual income coming in each month as a result.

Downsize

Moving to a smaller, more affordable home seems like a step back to many people. But a family who are strapped for cash will not have many choices open to them. It will mean they will have more money at their disposal than when they were paying a substantial amount towards the rent or mortgage.

Take in a lodger

Some families decide that having a lodger would help with some of the household expenses. They will need to search carefully for a suitable person and carry out some background checks. Asking for references is not unreasonable. But there is a downside to having a lodger.

Families will not have the same privacy that they enjoyed before and they will need to consider what to do if the lodger defaults on any payments or they find that they do not get along. Also, once the lodger moves out, the income will immediately dry up.

Savings

Having a savings account will help to build back some financial security. Small monthly deposits will soon accumulate. Some money market accounts offer very good interest rates and CD’s can also yield a good percentage over a period of time. Even $100 a month will become $1200 within a year or $6000 over a five year period and this is excluding interest.

Stop smoking

Smoking is not only a bad habit, but it is also an expensive one. Smokers spend a great deal of money on cigarettes and other tobacco products on the market. Quitting the habit will produce wonderful health benefits and it will also help a couple who are in dire financial straits to save extra money.

One income families can and do survive. Some careful planning, cut backs in some areas of life and making the best of fewer luxuries can free up a lot of money that can help a family to cope better on one income.

Paying cash is always safe while paying credit card can be somewhat complicated. When to pay cash and when to use a credit card?

When to pay cash:

1. The store where you purchase something will not accept credit card. Isn’t it obvious?
2. You have to pay cash when the purchase you’ve made is a little amount of value.
3. You can pay cash when you think that the store where you purchased something is somewhat not reliable.
4. Pay cash when you think you can and pay cash when you don’t like to be billed with a high interest next month.

When to use a credit card:

1. Use your credit card when you purchased a big amount of price.
2. If you have an aim to make your credit card reach to its high limit, let’s say you aim for a 10,000 credit limit, used your credit card always. I’m sure the bank will upgrade your credit limit.
3. Use your credit card when you don’t have cash.
4. Pay by the used of credit card when you cannot afford the price right now and you know you can afford it next month(huh?, just the same…)
5. If you wanna purchased, like cars, computers and any appliances, using your credit card is very helpful. Though, you need to pay for the interest.
6. When you want to shop online, you can used your credit card. When you pay something on the internet you can used it. You need to be cautious about it though.

Well, cash or credit card? It’s just the same, you still have to pay for it.

Almost everyone with an average income has one thing in common – debt. It is everywhere; it corners you in every way possible. The last thing you want to do is add it up mistakenly. How can you add it up by mistake? Simple, increase your line of credit now, rack it up later. That is what tends to happen when someone accepts an increase. All major banks are good at one thing: calling you to offer a credit limit increase. They want you to feel “comfortable” knowing that in the event of an emergency, you have that credit sitting there waiting for you. Unfortunately, this is not how it usually goes. The amount of people that have racked up credit cards – and have it racked up with non-emergency items (furniture) – is astounding. If you are not personally in this situation then someone close to you definitely is.

The best way to stay away from debt is to pay for everything in cash and don’t apply for credit cards. Since this is nearly impossible for the average moneymaker, let’s explore some ways to stay away from it as much as possible.

• Keep your credit card limit as low as possible.

  $500 – $1000 is more than enough to have for emergency “peace of mind”. Anything higher than that will give you temptation to use the overly convenient line of loan money. Even with a low-interest rate, a credit card that is maxed-out can be a heavy, head-spinning burden.

• Save, don’t borrow!

  Let’s put borrowing money into perspective here: You open an account with a bank. Then you willingly give that bank your money, which they freely invest into whatever they want. They pay you tiny interest rates while they make huge returns off of your money. Then, you take out a loan from that same bank and pay interest rates that usually double the interest you are gaining on the money you gave them! Banks make billions of dollars profit a year off of money that comes from hardworking low-mid income “customers”.

  Save your money for what you are looking to purchase, then buy. Do not borrow money for something that you do not necessarily need now! Save now, buy later -or – borrow now and pay way more over the long run. It is definitely easier said than done, but if you plan your expenditures – it can be done.

The easiest way to stay away from debt is to stay away from reasons that require you to obtain it. Do not impulse buy with your credit card – this is the biggest hole you can fall in! It is too easy to leave yourself circumambient with payments… leaving you with nothing at the end of the month to put into savings. Think before you buy should be common knowledge, however sometimes that “want” purchase can be too tempting. Fight temptations with realizations of your financial goals.

Do not get yourself stuck fighting off your debt from your own overspending habits! If you find yourself wanting to use your credit to buy something that is not necessity, remember this: Purchasing it on your credit card will automatically make the item more expensive (through interest on your credit card). We all say we will pay it off right away, but how often does that actually happen? THINK before you BUY, and don’t have too much credit waiting for you to trap yourself with.

While a significant portion of the just-out-of-college population is overwhelmed by student loans, rent, and other miscellaneous expense, it is possible for any person at any stage of life to begin planning for the future by saving for it.

The key to saving money is to stop thoughtless spending. Sometimes, creating a strict budget can be useful. However, you would be surprised by how quickly the costs of unnecessary indulgences add up. For instance, buying a pop every day will likely cost you around $500 over the course of the year. That is $500 that could be invested and earn interest. Imagine adding that to other common indulgences, such as expensive lattes from the fancy coffee stores, or pricey salon highlights and touch ups.

Eating out can also cost more than it’s worth. One large pizza from a pizzeria can cost $20-$25, whereas a freshly made pizza from a grocer’s deli will only run you about $5-$6. So, if you were to have a pizza a week, you could save as much as $1050 a year by avoiding the pizzeria! This is a spectacular amount considering the minimal difference between the types of pizza.

Entertainment can be a huge expense. One movie, with the treats, can cost $15 for one person. Instead, opt for a rental, pop some popcorn at home and enjoy the savings. The least expensive rental method I’ve come across is the movie rental machines that are set up in some convenience or drug stores. The rental can be as cheap as $1.99, provided that you return the movie within a certain time span. So a couple can relax with a great new release and a bowl of popcorn for as little as $3, rather than spending almost $30 at a movie theatre. If you want to go to the theatre to catch a new flick, go to a matinee or Tuesday cheap night to save a few bucks. Avoiding the snack counter will also keep that cash in your pocket.

Another important tip is to pay off all debt and not incur more. And don’t use credit cards to pay off debt. You want to earn interest, not pay it! Every month, allocate a certain amount from your paycheck to go towards your debt. If you have an extra $25 at the end of the month, put it towards your loans or credit cards, not towards the newest DVD release.

It may seem as though you are depriving yourself in the short-run, but you will be amazed at how much more quickly you will move into a comfortable, debt-free lifestyle! Treat yourself, but do it less often and think about what you’re spending before you spend it and what the ramifications will be. Will going to the concert prevent you from making your loan payment this month? Can you afford both a new DVD and a new watch, or can you wait on both? Are you willing to save less for mindless indulgence?

And remember: it’s not just about the money you are saving; it’s about the interest you will be making off of the money you are saving. Be sure to invest your money, even if it’s only in a low risk GIC. Not only will it earn you a higher amount in interest, but it will deter you from spending it. The more savings you have now, the more money you’ll make off of it.

Preparing a personal budget is never a fun task. Let’s face it—we don’t like for anyone, including ourselves to come between us and what we want to buy.

If you hate budgeting, then you are probably looking at it the wrong way. Most people see a budget similar to a diet. We want certain things, and we feel guilty when we deviate from our plan.

A budget can be much more than that though. Instead of cutting out your guilty pleasures, embrace them. You do work for a living, and you deserve to appreciate the rewards of that hard work.

When I help a client develop a budget, I let them know that it is not my job to tell them they need to cut things out or do without certain things. That is actually the opposite of what my job is.

The truth is that my job as a financial counselor is to help you obtain everything you want in life. You might be surprised at the lifestyle you can lead if you plan for it. Planning is the key budget concept that gives you what you want now while achieving financial success in the long term.

Planning can allow you to obtain a nicer car than you drive now while paying less for it. Planning can put you in the house of your dreams.

Budgeting with a Financial Counselor

If you have a deficit, then there are certain options to correct that deficit. One option is to give you an opportunity to adjust some of your expenses. Another option is to find a supplemental source of income.

If high interest debt payments are contributing to your deficit, then you might benefit from credit counseling. An action plan can consist of either a self-guided repayment plan or a debt management program. Both are designed to lower your interest rates and reduce your debt at an accelerated pace.

My goal is to help you eliminate your debt, boost your financial reserves and build a solid credit rating. Budgeting is the first step to that.

If you have certain activities or optional expenses that are important to you, then I want you to keep them in your budget. You deserve to be able to enjoy life.

If you want to go it alone, feel free to utilize one of our budgeting tools. Alternatively, you may prefer to talk with an Accredited Financial Counselor to get help developing a budget. This way, you can get some insight on methods to improve your finances.

In this economy, money that isn’t nailed down needs to be saved and budgeted. It’s the best way to keep your finances afloat. So, to continue our efforts to keep your and your family’s economic situation square, we are going to provide one of the best ways to save lots of money – saving on your electricity bill. Thankfully there are many small ways to save on your electricity bill, that when added up, can save you a pretty good chunk of cash.

First and foremost, there are a few small things you can do that will add up. For example, don’t use too many lights that you do not need to use. Turn off the lights when you leave a room, open up the blinds as an alternative, turn off the hot water in between washing dishes, and try to limit your shower times. These tips alone will save you a good deal of money from the onset.

According to MSN.com, most of the electricity bill in an average household comes from heating and cooling. Backing off on the heater and the air conditioning can be a really quick way to save money. If it’s too cold, put on some extra clothes and some socks before turning up the heat, and when you do, be sure not to exceed more than five or ten degrees. If it’s the summer, and you cannot stand the heat, consider moving to Michigan. If that’s not on your agenda, you might be able to save some money if you buy a more accurate thermostat. Another alternative to air conditioning is a ceiling fan, which consumes much less energy. As far as heating is concerned, another consumer of heat comes from your hot water heater. If you turn down the temperature on your hot water heater, that is another fast and easy way of saving money and unless you actually enjoy cold showers, you will also save money on your water bill.

Another fantastic way to save money on electricity is to install energy-efficient devices and lightbulbs. However, if you do not have the money on hand, it is definitely an investment worth saving up for. When considering how much you save on your electricity bills with these appliances, such as dishwashers, washer and dryers, they eventually end up paying for themselves.

These are only a few tips for saving money on your electricity bill, but they can go a long way.