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Archive for April, 2013

Financial Planning Methods You Should Learn

Written by Toi Williams on Apr 30th, 2013 | Filed under: mindset

Studying financial planning methods can go far towards securing your fiscal future and help you avoid financial decimation when unexpected issues happen. With exceptional financial planning, you can guarantee that you are not using more of your money than you have planned to and can master your funds so that you can meet your financial goals. Here are some important financial planning skills that you should learn.

Effective Budgeting

A critical element of financial planning is the capability to make an effective budgeting plan. A monthly budget will give you an overview of your finances and help you distinguish spending areas that could be lessened or eliminated completely. Your plan should incorporate the greater part of your monthly expenses as well as any incidental purchases that are made regularly. Having this informative data in your budget will give you a comprehensive picture of your current financial standing and help you keep your spending within reason.

Goal Setting

Careful consideration of your financial situation will help you set up some budgetary objectives to aim for. It doesn’t matter whether your objectives will take two months or two years to achieve, as long as you have planned financial goals to reach. When you have reached one of your objectives, it is best to quickly set another one to aim for. This will keep you on the best path for great money management.

Emergency Saving

It is critical to have funds available to handle any unexpected expenditures that may arise in the future. Having funds available in an emergency savings account makes it less likely that you will have to depend on expensive credit to handle the situation. You should save at least 10% of your pay in a savings account to be used for emergency situations. These financial planning methods are something that anybody can use to bolster their financial security.

New Choices Available For Borrowers Seeking Loans

Written by Toi Williams on Apr 30th, 2013 | Filed under: loans

A new development in the financial world is the rising popularity of private moneylenders utilizing new technology to offer loans to consumers. These loans are the same or comparative to the credit obtained from traditional lending institutions. The private loan lenders are joined with borrowers through associations like Prosper, a company that matches individuals looking to obtain cash with individuals intrigued by loaning cash to consumers and acquiring a profit for their venture.

Individuals are deserting traditional banks and lending institutions in extensive numbers. Some simply do not want to work with those banks any longer after hearing the details of their recent actions in news reports. Some make the choice based on their financial assessment of their situation or have past credit issues that could make traditional loans difficult to obtain. The private moneylenders are often plan B to those who need banking products or capital. For all of the aforementioned explanations, the number of individuals utilizing the services of private loan specialists increases every year.

Borrowers like having this choice for acquiring the capital that they need since they can get lower premium rates than they might have gotten utilizing a conventional bank. Investors receive a solid profit for their speculation, which is often a great deal more than what they would have received from a savings account or other low risk investments. The company managing the transactions will charge a minor fee as their cost for bringing the borrowers and moneylenders together.

Innovation is opening new entryways into borrowing and loaning money. These commercial enterprises are giving borrowers and lenders more choices and providing additional benefits not found in other loan products. Millions of individuals have been utilizing these private loans and millions more have begun inquiring about them. Some of the individuals that have seen the benefits of these loans say that they might never use conventional loans again.

How To Protect Your Credit Worthiness

Written by Toi Williams on Apr 27th, 2013 | Filed under: credit score

One of the most important things that you can do for your financial security is protecting your credit worthiness. Your credit score and the information in your credit report can affect your life in many different ways, some of which you may not be aware of. Your credit worthiness is used to determine how much you pay for a loan, whether you can obtain additional credit, the price you pay for insurance, whether you are given a job or promotion, and where you can live. If you damage your credit score, you damage your ability to obtain the best services and products at the lowest overall cost. Here are some things that you can do to protect your credit worthiness.

Check Your Credit Report

One of the first indications that you are going to get that something has happened to your credit worthiness is when you or someone you have given permission to has reviewed your credit report and found negative information on it. Negative information on your report with any of the three major credit-reporting bureaus can have a detrimental effect on your ability to obtain credit and other credit related items in the future. To ensure that nothing has been added in error or without your knowledge, you should review your credit report several times each year. One free copy of your credit report from each of the three major bureaus can be obtained once per year from

Use Credit Monitoring Services

If you need to monitor your credit more frequently than several times per year, you may want to consider using a credit monitoring service. These services monitor the activity on your credit report and notify you anytime something happens to reduce your credit score. Credit monitoring services can be a great way to become informed of changes in your credit file quickly, but they can be costly too. The cost for monthly credit monitoring ranges from $15 to $50 each month, depending on the company that is doing the monitoring. However, if your accounts or credit profile has been compromised, you may be able to get credit monitoring for free for a number of months so that you can ensure nothing fraudulent is happening with your accounts.

Tips on choosing the right credit card for you

Written by admin on Apr 19th, 2013 | Filed under: credit cards

There are hundreds of credit cards available for a consumer. Of course, a customer must look for a credit card that suits his or her needs. Before starting the search, one must know what they want out of a credit card. Once a consumer knows what he or she wants they can start the search for a card. Here are four tips to find a credit card for your needs.

Rewards: There are many rewards programs available to the consumer. For example, there are cards that give the user cashback, and there are cards that give a user airline points. A smart consumer should get a card with a rewards program that fits their needs and wants. In the end, a credit card rewards program will pay off wonderfully.

Interest rate: Ideally, a customer would never pay interest. Unfortunately, most consumers carry a balance at some point in their lives. When the interest rate is low, a consumer will not feel the pinch; on the other hand, high interest rates can really hurt a customer. Though a customer may not plan to carry a balance, it is still a good idea to have a low interest rate card.

Usage: A customer should choose a card based on their usage. For example, one who buys a lot of consumer goods should consider a card with a warranty program. On the other hand, a heavy traveler or businessperson should consider an airline branded card. Luckily, there are so many options a consumer will have no trouble finding a card that fits their needs.

Customer service: Oftentimes a customer will not think about customer service until it is too late. In reality, one should choose a company that offers solid customer service. Luckily, it is not difficult to research the customer service record of a credit card company. While it is not the first thing on the consumer’s mind, they must realize the importance of good customer service.

There are hundreds of available credit cards. A consumer should have no trouble finding a card that fits their unique needs. When doing plenty of research and asking the right questions one should find the perfect card.

Common Credit Card Blunders That Break Your Bank Account

Written by Toi Williams on Apr 16th, 2013 | Filed under: credit cards

Staying out of debt seems like a reasonable goal, but many people still find themselves getting in over their head with credit card debt. They usually are caught up with one or more of the most common credit card pitfalls. It is often better to avoid excessive credit card debt than to try to repair the situation after the fact. Here are four ways credit cards can work against you.

Not Asking Questions Before You Buy

People save money when they stick to making necessary purchases and resist the urge to spend frivolously. You can control your spending by asking yourself questions before you make a purchase, such as whether you really need the item and whether the item is so important that you are willing to pay more for it my placing it on your credit card. These question helps you identify how important an item really is to you. If the item is not important, leave it on the shelf and save your money for other needs.

Not Paying Credit Cards Off Quickly

When you make purchases using your credit card, try to pay the balance off quickly. People who make small payments on their credit cards pay more than the original amount charged because of the fees and interest charges that are added to the purchase price. Based on the interest rate of the credit card, the initial purchase can quickly become an unmanageable financial burden that is difficult to get rid of. Cardholders should save up cash for non-emergency purchases to avoid the cost of interest charges and fees on their credit card.

Failing To Understand The Credit Program

Many people that sign up for new credit cards receive an incentive for opening their new account. They also get the chance to transfer an existing balance to the new card with a zero percent Annual Percentage Rate (APR). However, these benefits do not last forever and the cost of spending with the card can be much more than the benefits that you receive for using it. Before you decide to open a new credit card or transfer a balance, make sure you understand the terms and conditions of the account. This knowledge will help you avoid costly mistakes.

How to Pay Off Your Company’s Debt

Written by admin on Apr 15th, 2013 | Filed under: debt relief
There are numerous ways that you can pay off your company debt. One solution is to make a company voluntary arrangement (CVA). The company owner speaks to creditors and agrees to a repayment. The payments are made over a specified period of time. A financial debt manager can create a proposal for the company. The creditors meet, and if most of them agree to the CVA, it becomes valid. Then, the creditors have to follow the terms and cannot pursue legal action.

There are several benefits that come with the CVA plan. The company is still able to function under the oversight of the directors and managers. The repayment plan is usually flexible to the company’s budget, and the court offers protection against lawsuits. This agreement has a few requirements. The company must accept that employees are making mistakes. If past actions have not worked, creditors must see new promises. The company has to promise that it will be successful and profitable. Then, the owner is encouraged to contact a legal representative who reviews the situation and develops a CVA. Throughout the process, the employees retain total control of the business. The agreement is filed in court and handed to the creditors. At least 75% of the creditors must agree to the plan so that it becomes valid.

A major benefit of a CVA is that the business stays in control. This debt plan does not have to affect new and potential customers. There is no visible connection to debts, and the situation looks like it is under control. It is a way to preserve a company’s integrity by continuing to sell products and make profits. A financial consultant knows whether or not a CVA is the most efficient choice.

In summary, a company voluntary arrangement is a plan made between an indebted company and the creditors. Debts are paid off with profits, and creditors are guaranteed some repayments. It is the solution for businesses on the verge of going bankrupt. Even if the process is long and expensive, it may be the best way to get a company back together.

How To Shop for a Home Equity Loan

Written by admin on Apr 15th, 2013 | Filed under: loans

With the current tight economy and mortgage lending, you may believe that getting a home equity loan for your home may be impossible. While there have been a few changes, you still can get the loan you need. In fact, home equity lending has been increasing lately and if you look right you can find the right lender for you.


Find an alternative lender

While bank may be holding back on their lending, other financial institutions are not. Even if you have been turned down by your bank, you may still find lenders such that will give you that loan. These dedicated mortgage lenders offer more loan varieties than banks and are more willing to work with you than banks. Many of them will come with much lower interest rates and closing costs as well.


Check online lenders

Shopping for home equity loans online may prove easier than finding lenders locally. You can shop for and check out many lenders such as with just a click of a button from the convenience of your home. Many of the banks you will find online you may have never heard of before but their rates tend to be cheaper that your local large ones. Large banks need to pay for their brick and mortar branches and pass those expenses on to you. Online banks do not have branches and therefore can offer lower rates. Check these guys out first after you check with your local government agencies to see if these companies are legit and reputable.


Fix Your House, Literally

Home equity loans are approved based on the equity in your home, your credit score, and your income. If any of these three are off, you will find it difficult to get a loan. Your best bet is to figure out what is wrong with your financial situation and fix it. If your credit score is low, you should try to raise it. Most mortgage loan specialists offer free credit score advice, so listen to any of the suggestions. You can improve your home’s equity by paying off previous mortgages or improving it. You can fix your debt to income ration by getting a raise or by paying off debts.


Even with today’s economy, you can still get a home equity loan. You just have to shop around and fix any potential problems with your finances.

What to Look For in a Forex Account

Written by admin on Apr 15th, 2013 | Filed under: Uncategorized

A trader can make a lot of money playing the currency markets. Unfortunately, many investors, in a rush to get started, sign up with an inferior broker. Fortunately, the marketplace is competitive, and an investor who does their homework should have no trouble finding a solid broker. Here are four things to look for when signing up for a forex account.

Execution speed: A trader must use a brokerage that offers quick execution times. Since the market moves quickly, the difference between a good and a bad trade can come down to time. Simply put, when researching firms, an investor must look for a broker who offers reliable and quick trades. Remember, it is a competitive marketplace and a trader must make moves quickly.

Margin: An investor can make huge profits when using margin. When signing up for an account, a trader should sign up for an account that offers solid margin rates. While a beginner should not go wild with margin trades, an investor must leverage his or her trades. In fact, the difference between a good trade and a great trade often comes down to margin.

Customer Service: When looking at reviews, a potential client must not overlook customer service. Remember, with currency trading, problems will occur frequently. When a firm offers solid customer service, a client will have peace of mind knowing that he or she can contact the company easily. Many overlook customer service when choosing a broker; this is a mistake as a well-run brokerage is worth the cost.

Commissions: Though commissions are competitive, it is still wise to shop around. A busy trader will rack up plenty of commissions, and it is crucial to try to minimize transaction costs. Of course, when choosing a firm, one should realize that the cheapest brokerage might not necessarily be the best choice.

When opening a forex account, a customer has a lot to consider. Luckily, the marketplace is very competitive, and a customer should have no trouble finding a solid brokerage house. While some take the decision lightly, the likelihood of success will be high when a trader uses a solid forex broker.

How To Set Up A Forex Account

Written by admin on Apr 15th, 2013 | Filed under: Uncategorized

Many people have questions about FX trading in the United Emirates, and many of these questions have to do with setting up a Forex account. There are many steps to take in order to set up a new account, and by following these steps, a person can begin to earn profits by trading Forex very quickly.

Choose A Broker 

There are many Forex brokers to choose from, and some offer much better services than others. When looking for a broker, a person should consider the trading platform, the level of customer service and the different types of accounts that the broker provides.

Use A Demo Account 

By trading on a demo account, a person can try all of the features that the broker offers without risking any real money. Trading on this type of account is an excellent way to learn to trade Forex and to learn to effectively navigate the broker’s trading platform.

Make A Deposit 

Once a person has chosen a broker and practiced by trading on a demo account, it’s time to make a deposit.

Most brokers have a minimum deposit amount that they require traders to make in order to open an account; however, a trader can earn a significantly larger amount of money by making a larger deposit.


Many Forex brokers offer various bonuses for their traders, and one of the most common types of bonuses is a deposit bonus.

The deposit bonus can be calculated as a percentage of the total amount of a deposit that a trader makes, or it can be a preset amount.

Choosing A Trading System 

There are many trading systems to choose from, and some of them can earn exceptionally large profits for a trader even if the trader only made a small deposit initially.

Some trading systems are completely automatic, and some systems provide trading signals that tell a trader which currencies and currency pairs to buy and sell.

A person should read reviews about different trading systems and try various systems on a demo account in order to determine how effective each system is.

There are many steps to take when setting up a Forex account. Some of these include choosing a broker, using a demo account, making a deposit, receiving a bonus and choosing a trading system.

Stop Overspending By Changing These Habits

Written by Toi Williams on Apr 11th, 2013 | Filed under: mindset

If you want to find ways to save money, start by looking at the things you do habitually. Most people go to work, meet with friends, take leisure time and enjoy a social life, and many of the activities associated with these actions cause us to overspend. It can benefit you greatly to break some of your overspending habits. That means making some changes to your life, but making the changes does not have to be difficult. Here are a few tips to help make curbing overspending and saving more a breeze.

The Dating Drain

Dating is a normal part of a healthy social life. It’s often described as fun and exciting, but it’s rarely described a money drain. The dating scene typically creates the need to spend on multiple items, including grooming, clothing, food, and entertainment. Luckily for you, you can easily manage this spending. For your next date, offer to cook your date a home cooked meal and cut your dining expenses in half. To save money on clothing, pull out some older outfits and send them to the cleaners instead of buying a new outfit. If the person is really into you, they will not care about this minimal frugality.

Travel on Your Terms

One thing people enjoying doing year after year is taking vacations. Picking the perfect trip is important for any vacation, but it usually has us traveling during peak times of the year. If you want a better price on your vacation, try booking your trip after the holidays or beginning mid-week. Travelers can also avoid added costs by not prepaying for excursions. You can usually find a full list of available excursions once you arrive, and most of them are cheaper than the pre-paid offers.

Overtime Spending

Who would’ve thought that working would cause us to overspend? Many employees spend about 60 -70 hours per week in the office. This means some are eating multiple meals each day while at work, and that costs more than packing your own meals and bringing them with you. People who are overworked also waste money on having their laundry and gardens taken care of for them while they are at the office. Create a schedule that works these tasks into your regular routine, as this will help you cut back on overspending.