Why some Internet banks can pay higher interest rates on Savings accounts

Why some Internet banks can pay higher interest rates on Savings accounts by Patrick Ort

Savings accounts are safe place to keep your money. Savings accounts are FDIC insured meaning the government guarantees your money up to $100,000.00. The advantage a savings account has over a Certificate of deposit (CD) is that your money is not tied up for a period of time. You can access it at anytime without paying a penalty.

The problem is that a lot of banks do not pay as high an interest rate on savings accounts as on CD’s. However, some internet banks are a little different.

Typically, Internet banks don't have branches, but when was the last time you were in a bank branch? Instead, they take the money they save from being branchless and pass it on to you in the form of greater value, including better rates, lower fees, and better product selection and services. And you have 24-hour access to your account.

ING DIRECT is one such internet bank. They do business online, over the phone and by mail. Without the overhead and high operational costs of other banks, they can pass those savings onto their customers.

An ING DIRECT Savings account is an FDIC-insured savings account with no fees, required minimums or service charges… no matter how much money you have on deposit. You can open an account online is about 5 minutes.

Click the underlined text below if you are interested in learning more about opening an ING DIRECT Savings Account.

ING DIRECT makes $aving money simple! Open your account online today and start earning 2.35% variable APY. No Fees and No Minimums!

Less than Perfect Credit – You can still get a loan

Less than Perfect Credit – You can still get a loan by Patrick Ort

Banks won’t loan you money if your credit is bad. Finance companies may, but at sky high rates. Ameriquest gives loans to the people in the middle. Ameriquest loans are easier to qualify for, and their interest rates are competitive.

You may want to consolidate your debt and pay a lower monthly payment. You may need to fix your house or remodel to increase its value. You may need extra money for a medical emergency, or to pay for a college education.

Whatever you need is Ameriquest may be your answer. Get a Free Loan assessment at No cost and NO obligation. To learn more about an Ameriquest loan click the underlined text below.

Lower your monthly payments. Refinance Loans without perfect credit

Success Unveiled

Success Unveiled by: Laurie Hayes

How do you define success?

According to the Collins dictionary, success is defined as the achievement of something attempted; the attainment of fame, fortune and position.

I believe this definition requires expansion … success also means being a responsible human being, caring for our planet, feeling good about ourselves, making others feel appreciated and valued, providing and caring for others, and sustaining genuine lasting relationships.

To have a 40-room mansion, four luxury cars and your own jet plane does not qualify as success if you have no one to share it with or you feel empty inside.

To be a billionaire and die alone because you alienated yourself or disadvantaged others to achieve your wealth is not success.

Many think that possessions and recognition define success and in order to gain these, they must work harder and longer, sacrifice relationships, values and health.

Some believe success is unachievable because they're not sufficiently educated, don't have enough time, or are not associated to the "right" people.

Success is relative.

If you are a middle-income earner, feel good about yourself, enjoy life and make every day count, you are a success!

If you have taken a vow of poverty, and have dedicated your life to serving others, you are a success!

If you have touched the life of another in a positive, influential way, you are a success!

To achieve material wealth, status and fame are admirable pursuits as are learning a new skill, earning a diploma, building your own business and so on.

We all deserve the best life has to offer, so set goals, believe in yourself, take action and make your dreams a reality!

Never give up!

Material success is wonderful and well deserved, but always remember that true success is about how you feel inside.

You don't have to have a certain level of education, loads of spare time, or be associated to a certain group of people to be successful.

If you are happy, excited and optimistic about your life, you are already successful. If you have financial freedom and all of the comforts and gifts life has to offer, that is just icing on the cake.

How you feel inside determines whether or not you are a success. Focus on yourself and your thoughts first. If you are confident, grateful for what you do have, and excited about the endless possibilities available to you, you are a success!

Enjoy life and live it to the fullest!

About The Author
Laurie Hayes is a professional Life Strategy Coach who teaches others how to recognize and seize opportunities presented in every day life. She has the ability to reveal the lesson to be learned in every situation and inspires others to seek out the best life has to offer. To learn more about life coaching and to secure a copy of her free e-book, "10 Guidelines for Attraction," visit http://www.wheretheheartis-lifecoaching.com. All content herein is copyrighted and must be used in its original format with author bio and website attached.

Comments: Living within your means does not mean you must be unhappy or that you should consider yourself a failure. It also does not mean you shouldn't try to do better. Be happy and work with what you have. Enjoy each day.

Create Tax Savings And Transfer Wealth To Your Child With A Roth IRA

Create Tax Savings And Transfer Wealth To Your Child With A Roth IRA by: Richard A. Chapo

Parents must give serious thought to protecting their family through estate tax planning. While life insurance and trusts should be a part of every plan, Roth IRAs can be a simple tool for passing money to your child on a tax-free basis.

Roth IRA

First, we need a quick summary of the Roth IRA. A Roth IRA is an after-tax retirement vehicle that produces huge tax savings because all tax distributions are tax-free. That statement can a bit confusing, so lets break it down. The downside of a Roth IRA is the fact that contributions are not tax deductible as with traditional IRAs or 401(k)s. The upside of a Roth IRA, however, is that all distributions are tax-free once the person reaches the age of 59½. So how can you use a Roth IRA to pass money to your child?

Opening A Roth IRA For Your Child

One of the biggest keys to retirement planning is “time”. The more years you spend saving money for retirement, the more you should have when that blessed day arrives. Imagine if you had started saving for retirement when you were 16. How much bigger would your retirement nest egg be? What if you purchased Microsoft stock in 1990 and watched it split eight times? Okay, that was painful example if you missed that opportunity. Nonetheless, why not do for your child what you didn’t do for yourself?

The fundamental goal of estate planning is to pass as much of your estate as possible to your family on a tax-free basis. You can transfer relatively small amounts of money to your child now. If you have a 16 year-old child with a Roth IRA, you can contribute $4,000 in 2005. That $4,000 is going to grow tax-free for 43 years and be worth quite a bit. A ten percent return would result in the account growing to roughly $200,000 and the full amount would be distributed tax-free. There are other practical advantages to opening a Roth IRA for your child.

As a parent, it is vital that you teach your child the value of money. Opening a Roth IRA gives you the opportunity to sit down and teach your child the value of saving and investing, instead of yelling at them to clean their room. While a parental lecture on the need to save money would typically meet with glassy eyes and yawns, your child’s attitude will undoubtedly change when you are talking about their money.

Work and Maturity Issues

Before you rush out to open a Roth IRA for your child, you must determine if your child is eligible to open an account. To open an account, your son or daughter must be working at least part time for an employer that reports their wages to the IRS. Hiring your child to take out the trash each week is not going to cut it, nor will this strategy work for your 5 year-old. Many teenagers, however, have summer jobs that should suffice for IRS consideration. To avoid any trouble, you should consult with your tax advisor.

A more sublime issue concerns the maturity level of your child. Keep in mind that the Roth IRA will be opened in their name. Your son or daughter will have the legal right to do what they will with the account. It is strongly suggested that you clearly explain the consequences of taking money out of the account [taxes, penalties, being cut out of the will, forced to eat healthy food, grounded for life, etc.] but the decision lies with them. As difficult as it is, try to be objective in evaluating how you child will react to knowing the money is sitting in an account. If you have doubts, you should probably investigate other tax saving strategies.

Opening a Roth IRA for your child can be a very effective means of transferring wealth to your child and teaching important life lessons. If your child exercises restraint, your relatively small contribution to their Roth IRA can grow into a sizeable tax-free nest egg.

About The Author
Richard Chapo is CEO of http://www.businesstaxrecovery.com - Obtaining tax refunds for small businesses by finding overlooked tax deductions and credits through a free tax return review. He can be reached at richard@businesstaxrecovery.com.

Freelance Work: The Changing Face of Employment

Freelance Work: The Changing Face of Employment by: Jesse S. Somer

No more working for the same company for fifty years. Freelance work is becoming more and more prominent. On-line you can find work or someone to do a job. Check out www.guru.com

The world sure is changing, and if you look at job employment you will see what I mean. Let's just go back to our grandparent's generation, even though I'm sure if we went back further we would see very different structures of work in the tribal periods of our history. Our grandparents usually found a skill, and then used that one skill to work for their whole career. An example is my grandfather who was a salesman for the same suit company for 44 years. There is nothing wrong with this. His job was secure; he knew there would be a superannuating fund when he retired, and that there would always be food on the table for his family. These days in the 21st century things have changed, and they are still changing rapidly as we speak.

Nowadays it isn't strange for a person to have around five completely different career paths in their lifetime. You might think that job security is much lower, but there are new types of jobs emerging everyday with the advent of modern technology. Older people can go back to schools and be educated in totally new areas that are greatly desired in society. One of the greatest changes in recent times is the fact that a lot of people are now working for themselves as freelancers from home. Society is still getting all the necessary work done, but the structures in which individuals pursue their dreams and goals in their areas of interest have changed completely. If you are working at home for your own business, you sure don't have the old hierarchy of bosses watching over your every move, judging your worth, and threatening you with dismissal.

People are now self-motivated as they know that if they don't get out there and share their skills and attributes with society, they simply might be forgotten. There is a new way of acquiring work these days that is so very different than the days of perusing the job-ads in the newspaper or going door-to-door asking for work. Surprise, surprise, its on the Internet! There are now on-line marketplaces for both employers to offer work and for potential freelance employees to show their portfolios. There are many, but an excellent example of one of these sites is www.guru.com. On Guru.com once you have registered your portfolio for free, you can then bid for jobs that prospective employers have advertised. On the other hand, if you are an employer, you can go to the category of work you need done (E.g.: Creative Writing) and search through a list of professionals that you can then contact to do the job.

These professionals exhibit the amount that they charge per hour, how much they have already earned through the site and a portfolio of examples of their work. They are then given a rating that has been compiled by the employers who have used their services. It is quite unbelievable; they've got people and job types from a multitude of different areas, just about any type of freelance work you can imagine: E.g. Website design, marketing, writing, graphic design, legal, engineering, photography, finance-the list is quite extensive.

So you see, "the times they are a-changin'" my friends. Imagine if you were frozen in time one hundred years ago and then thawed out today. All the basic human beliefs and emotions would be the same, but how would the world look to you? We've got to go with the flow and not get lost in the structures of old. What's your goal? Get on the Web!

About The Author
Jesse S. Somer M6.Net http://www.m6.net Jesse S. Somer is some human who wants do what he loves best to help our society to work efficiently. He imagines all people one day loving their jobs...Is he crazy?


Comments: This approach to finding work may be used to make extra income as a part time job. It could be looked at as a way to test the waters to see if you could make a living full or part time as an independent consultant using one of these job markets.

Best No Load Mutual Fund: Mutual Fund Fees and Mutual Fund Expenses

Best No Load Mutual Funds: Mutual Fund Fees and Mutual Fund Expenses by: Sam Subramanian

While searching for the best no load mutual funds, some mutual fund investors often tend to focus exclusively on mutual fund fees and expense ratios. Is this always a smart way to select mutual funds?

Metrics such as price/earnings ratio and dividend yield on the S&P 500 index, a commonly used proxy for the U.S. stock market, are hardly at bargain levels. This has lead several market pundits to predict single digit annual returns for domestic mutual funds over the next decade.

While pursuing the search for the best mutual fund, some mutual fund investors tend to focus exclusively on fees and expense ratios. The rationale is that by choosing mutual funds with low fees, investors will have more of their capital invested. Also, no load mutual funds with low expense ratios will pass on more of the returns they earn to their shareholders.

Is shopping for the lowest fees and expense ratios a smart way to select mutual funds? Not always. The answer depends on the type of mutual fund you are evaluating, the time you can devote to evaluating and managing your mutual funds investments, and the type of cost incurred.

Investing in the Best No Load Index Mutual Funds.

If you believe markets are generally efficient and prefer to invest in an index mutual fund to achieve an index-like return, shopping for the best index mutual fund based on low fees and a low expense ratio makes good sense. The portfolio manager of an index mutual fund endeavors to invest the fund’s assets to track the index as closely and cost-effectively as possible. Larger index funds have an advantage in that they can spread their operating costs over a larger asset base.

Some of the interesting index mutual fund options currently available include no load index mutual funds like E*Trade S&P 500 Index Fund (Nasdaq: ETSPX), Fidelity Spartan 500 Index Fund (Nasdaq: FSMKX), and Vanguard 500 Index Fund (Nasdaq: VFINX) with expense ratios of 0.09%, 0.10%, and 0.18%, respectively.

Investing in Actively Managed Mutual Funds and Strategies.

Mutual fund fees and expenses are just one of several important factors to consider if you believe portfolio managers can add value and out-perform the index through active management. The portfolio manager’s ability and investing style are just as important. Therefore, seeking out the best mutual fund based on just low fees and a low expense ratio may not always be the right approach. It may just be a case of being ‘penny-wise and pound-foolish’.

Legendary investor Peter Lynch, who managed the Fidelity Magellan Fund (Nasdaq: FMAGX) from 1977 to 1990, achieved returns well in excess of the market averages even after accounting for the fund’s fees and expenses.

So too has Bill Miller who currently manages the Legg Mason Value Trust (Nasdaq: LMVTX). Even after accounting for its relatively high 1.7% expense ratio, this no load mutual fund has achieved compound annual returns of 18.6% for the 10 year period ending in 2004, well in excess of 12.0% for the Vanguard 500 Index mutual fund.

AlphaProfit, an investment research firm that specializes in active sector investing, uses the no load Fidelity Select Funds to implement its investing strategy through its Core™ and Focus™ model portfolios. Although not the lowest, the expense ratio of the no load Fidelity Select Funds compares favorably with that of other sector fund offerings. AlphaProfit prefers Fidelity Selects for their comprehensive coverage of sectors and industry groups. The AlphaProfit model portfolios have significantly outperformed the market averages over time.

Ensure Your Mutual Fund Puts Your Interest First.

Whether you prefer to index or take an active approach to managing your investments, ensuring that your mutual fund is putting your interests first is good investing practice.

Mutual funds charge different types of fees. By looking at some key factors pertaining to fees, you can get a sense of whether the mutual fund puts your interests first or merely seeks to line the mutual fund company’s pockets.

Serving the Interests of Long-Term Shareholders. Some mutual funds impose short-term trading fees to discourage frequent trading of mutual fund shares. Frequent trading disrupts efficient management of the mutual fund and increases operating expenses. A short-term trading fee can therefore actually be beneficial to long-term shareholders if the fee is rightly treated by the mutual fund company.

Fidelity Spartan Total Market Index Fund (Nasdaq: FSTMX), for example, follows the practice of returning short-term trading fees collected on shares held less than 90 days to the mutual fund itself rather than passing on the benefit to the mutual fund company. By having this short-term trading fee structure, this no load mutual fund seeks to contain its operating expenses. Such fees are therefore aligned with the interests of long-term shareholders of this mutual fund.

Passing on Savings from Scale Economies. The operating expenses incurred by a mutual fund are a combination of fixed and variable costs. As the asset of a mutual fund increases, the fixed cost gets spread over a larger asset base. Therefore, the expenses incurred to operate the mutual fund as a percentage of the fund’s assets should trend lower.

A mutual fund that places the interest of shareholders first must pass on the savings from scale economies to the shareholders. The trend in a mutual fund’s expense ratio therefore serves as a metric of how seriously a fund takes its fiduciary responsibility.
Key Points.

1. If you are searching for the best no load index mutual fund, shopping for one with low fees and expenses makes perfect sense.

2. If active management of investments appeals to you, fees and expenses are just one of several important factors to consider.

The ability and investing style of the portfolio manager are at least just as important as fees.

3. The types of fees a mutual fund charges and how the fund uses the fees provides clues as to how seriously a mutual fund takes its fiduciary responsibility.

Mutual funds that impose fees to contain operating expenses and return fees to the mutual fund help protect the interests of long-term shareholders.

4. Mutual funds that put the shareholders’ interests first typically pass on savings from scale economies to the shareholders.

Notes: This report is for information purposes only. Nothing herein should be construed as an offer to buy or sell securities or to give individual investment advice. This report does not have regard to the specific investment objectives, financial situation, and particular needs of any specific person who may receive this report. The information contained in this report is obtained from various sources believed to be accurate and is provided without warranties of any kind. AlphaProfit Investments, LLC does not represent that this information, including any third party information, is accurate or complete and it should not be relied upon as such. AlphaProfit Investments, LLC is not responsible for any errors or omissions herein. Opinions expressed herein reflect the opinion of AlphaProfit Investments, LLC and are subject to change without notice. AlphaProfit Investments, LLC disclaims any liability for any direct or incidental loss incurred by applying any of the information in this report. The third-party trademarks or service marks appearing within this report are the property of their respective owners. All other trademarks appearing herein are the property of AlphaProfit Investments, LLC. Owners and employees of AlphaProfit Investments, LLC for their own accounts invest in the Fidelity Mutual Funds included in the AlphaProfit Core and Focus model portfolios. AlphaProfit Investments, LLC neither is associated with nor receives any compensation from Fidelity Investments or other mutual fund companies mentioned in this report. Past performance is neither an indication of nor a guarantee for future results. No part of this document may be reproduced in any manner without written permission of AlphaProfit Investments, LLC. Copyright © 2005 AlphaProfit Investments, LLC. All rights reserved.

About The Author
Sam Subramanian, PhD, MBA is Managing Principal of AlphaProfit Investments, LLC. He edits the AlphaProfit Sector Investors' Newsletter™, a publication that discusses investments using Fidelity mutual funds. For the 5 year period ending December 31, 2004, during which the Dow Jones Wilshire 5000 Total Market Index declined 6.9%, the AlphaProfit model portfolios increased by up to 186.2%, an average annual return of 23.4%. To learn more about AlphaProfit and to subscribe to the FREE newsletter, visit http://www.alphaprofit.com .

You Can Make Financial Resolutions Anytime

You Can Make Financial Resolutions Anytime by: David Wilding

The New Year often brings with it a desire to right the wrongs in your life. From this desire springs the tradition of New Year resolutions. You should take advantage of this to change your financial situation.

There is a good chance by the time many of you read this, you will have already made and BROKEN your financial resolutions. Those of you who have not already done so, know they are hard to keep. You can change that. Anytime is a good time to make financial resolutions.

Since you are thinking about this, you must suspect a problem. The first step is defining the problem. Define it specifically. "I spend too much money", is not good enough. You spend too much money on what? Why do you spend too much money? It is not often you are speaking of life's necessities here. You need to specifically target your problem areas.

The best way to identify problem areas in your spending, is to pull out your check registers and credit card statements for the past twelve months. Write down all checks and charges for items other than necessities. This spending will be your gold to mine.

After making this list, add up the total amount of these expenses. This will be a very revealing exercise. For some the total will be staggering, especially when done for a twelve month period.

Pay close attention to checks and charges for restaurants and fast food chains. Look at the amount and frequency of payments to convenience stores. Examine closely the spending on your home and your closet.

Using this information you become aware of your weaknesses and where they occur. You are now better equipped to overcome them. You need to make conscious decisions to stay away from the places where you overspend. If you don't go there you won't be tempted to waste your resources and place your financial life in peril.

Now, armed with these bits of information you can boldly and successfully make resolutions. Remember, changing your behavior is how you will keep these resolutions. If you fail, and you will, just climb right back on the resolution wagon. Dogged repetition will help you succeed. Check how you are doing on a monthly basis. Make any adjustments needed.

Putting your financial house in order and becoming debt free is a process before it is an event.

About The Author

(C) 2005 David Wilding
David Wilding has for the past ten years worked with groups and individuals to rid themselves of debt. Visit his website http://www.debtattack.com for more ideas, tools, and strategies for becoming debt free.

ddmmw@access4less.net

Debt Management

Debt Management by: Jason Holmes

At times of severe financial crisis Debt Management Plan (DMP) helps you to manage your funds and also protects you from the humiliation of debt struck conditions. The famous American author Washington Irving in ‘Wolfert’s Roost’ addressed dollar as Almighty and described it as the great object of Universal devotion. A man who can manage his dollars well can manage his life as well. A Debt Management Plan (DMP) teaches you how to manage your dollars well and lead a prosperous life even during times of financial crisis. Debt Management is a process that allows you to compile your multiple debts into one amount and work out a repayment scheme where you pay the debts in affordable monthly installments. Debt management companies usually negotiate with your creditors to reduce or eliminate high interest charges, delete late fees and other penalties, and update your past due accounts to show current status.

Debt Management Plan has gained immense popularity in the past couple of years with the striking difference they created in gifting hundreds of people a debt free life. In a recent survey it was reported that almost 32% client filed bankruptcy. Additionally almost 10% reported that they are going to file bankruptcy. However, the remaining 58% clients are opting for Debt Management Plans which they find is highly beneficial. The other half who opted for bankruptcy did not prefer to manage their debts and work on a new repayment scheme.

Clients who successfully completed a DMP felt that it provided a wealth of different benefits, both for the present days and the future ahead. Almost 85% of clients felt that the ability to payoff their debt was beneficial and almost 55 % felt that the plan helped stop collection calls. In the long run, almost 32% of the clients felt that the plan helped them balance their budget and almost 41% felt that they learned new budgeting skills. A total of almost 38% felt that they improved their credit worthiness and almost 51% felt that they improved their overall financial status.

With the Christmas festivities happening in the recent past Debt Management Plans seems to be on an upraise. It is reported that millions of Americans ran up billions of dollars in spending on their credit cards in the past month. The issuers of two major credit cards, MasterCard and Visa, reported some record numbers, according to reports published by CNNMONEY. Reports also cited Visa reporting a 31.8 percent increase in spending when compared to 2003. MasterCard processed a record number of transactions at 914 million, totaling $60 billion, up 12.9 percent from last year. The statistics reflects the confidence and merriment among the consumers. However, the financial analysts at this juncture can smell heavy financial burdens that can cause a wrinkle for people who are not in a position to pay back their debts. With this trend, it is expected that the majority of the population undergoing debts will opt for Debt Management Plan which will show a surge in this program like never before.

For more sound and in-depth knowledge in debt management plan, please view: http://www.debtconsolidationcare.com/debt-management.html http://www.debtconsolidationcare.com/debt-solution.html http://www.debtconsolidationcare.com/help.html http://www.debtconsolidationcare.com/credit-negotiating.html

About The Author
Jason Holmes is a contributing writer to http://debtconsolidationcare.com and is currently working on a special section in the site called do it yourself where you can eliminate your debts and become debt free..

marcia@debtconsolidationcare.com

If you rent a home, protect it by buying Renters Insurance.

If you rent a home, protect it by buying Renters Insurance. by: Mike Yeager

Renters insurance is often overlooked by people who are renting their house or apartment. Many people don’t realize that their landlord’s insurance only covers the building that you live, there in no coverage for your personal belongs. Renters insurance usually offers full coverage to protect your belongs from fire, flooding, theft, and many other types of perils. Most renters’ policies are actually very inexpensive, especially when compared with regular homeowners insurance; and it’s easy to get a renters insurance quote. People who rent their homes or apartments may not realize that they may need liability insurance. You could be held responsible for injury to another person if they were injured in your rented residence. Fortunately, most renters insurance will guarantee personal liability coverage. Renters insurance will be able to help protect you in case of a liability lawsuit against you. In addition, if the place you are renting becomes unlivable for any reason, most renters’ insurance policies will allow additional living expenses. This means that your insurance will pay for your hotel room or any other expense you may have if your home become unlivable.

Some suggestions keeping your Renters Insurance premium low.

The cost of your renters insurance coverage will depend on many factors, including the place you live, your insurance company, your deductible, and many other factors. One tip is to increase the deductible, which will in the long run lower the amount of money you will have to pay. If you put in safety measures like fire alarms, burglar alarms, and fire extinguishers your insurance company may offer a discount. If you rent a home, a renters insurance quote will provide you with peace of mind and security for as long as you rent a home. With a little planning and searching you’ll be able to find great rates on Renters insurance quotes and cheap renters insurance.

About The Author
Mike Yeager Publisher http://www.a1-insurance-quotes-4u.com/

It Only Takes a Few Simple Steps To Avoid Student Loan Debt

It Only Takes a Few Simple Steps To Avoid Student Loan Debt by: Mike Yeager

Student loan debt is a problem that affects many former students. It is a long and difficult process to pay off a student loan. Undoubtedly, it is much easier to avoid student loan debt in the first place. There are a few simple steps that can be taken to either escape student loan debt or ensure that the debt won’t be too hard to pay off in the future. Consider student loans only after you have researched all the sources of free financial aid. Many people who are eligible for financial don’t even realize it and instead take out a student loan. If you are not eligible for financial aid and need to take out a student loan, be aware that there are three major types of student loans: Federal Family Education Loans, Federal Direct Loans, and Federal Perkins Loans. Make sure you don’t go over your head in debt by deciding how much you can afford to borrow, and how much you can realistically repay.

Ask for help if you have trouble paying off your Student Loan Debt.

If you’re having difficulty repaying your loans, don’t be afraid to talk it over with your lender or loan servicer. Generally, the earlier you ask for help, the easier it is to get it. If you are having trouble remembering to pay your student loan, ask a bank for help and they should be able to set up an automated paying service, where you won’t have to worry about writing a check. Or, consider asking for student loan debt consolidation, which will combine all your federal loans into a single loan.

About The Author
Mike Yeager Publisher http://www.a1-loans-4u.com/

Attaining A Debt Free Lifestyle

Attaining A Debt Free Lifestyle by: John Cook

Many people have been taught that you cannot get ahead without debt. We are also inundated with advertising telling us we can have anything we want. All we need to do is put it on our credit card.

We have become an impatient society, we want it right now. We have lost the ethic of working for what we want.

It is not how much money you make; it is what you do with it. By living without debt you can actually have a higher income since you are not paying out interest, you are actually getting paid interest on invested money.

All debt is not created equal. We will classify them as good debt and bad debt.

To simplify the classification we will say that good debt is a loan for something that you could sell at any time and repay the debt. This narrows down good debt to a home loan and possibly a home equity loan.

A bad debt, of course, is a loan on anything that will lose value.

Let's take a look at some debts that we would consider bad debt.

Home equity loans are in the gray area. They could be considered good debt if they are used to repair or improve your home, but you would be a lot better off to just save up the money for the project. Home equity loans become bad debt when used for purposes other than home improvement or maintenance. In other words a bad home equity loan is for anything that does not add to the value of your house. Do not jeopardize your home by taking out a home equity loan on unnecessary items.

One possible good use for a home equity loan is when the interest rates are low. You can use a home equity loan to refinance your mortgage. Home equity loans generally have lower costs than conventional home loans.

We consider school loans bad debt. If you finish school, get a good high paying job and then attack the loan like mad, a school loan may work out. The problem is that there are too many things that can go wrong. At best, even if you do graduate and get a good job there are always a lot of other expenses at this time in ones life. You are really behind financially when you start your working life in debt.

Auto loans are bad loans that have become common practice to us. We pay interest on a vehicle that will only be worth one half of its original purchase price in five years. Lately it has also been common for us to borrow more than a vehicle is worth. We can trade a car in that we still owe on, and roll that owed amount over into another vehicle. This gives us a loan amount that is higher than the value of the car that we drive away. We have lost our capacity to say NO.

Co-signing is a bad debt that usually and unfortunately involves family. If someone cannot qualify for a loan at a regular lending institution, they should not get a loan. The fact that they can’t qualify for a loan elsewhere should tell you that they are a huge risk. Use this opportunity to teach them how they can get what they want by working harder for it and delaying the purchase.
If you want to get off of the debt treadmill, you must run as far away from debt as you can. You cannot use debt to get out of debt. Even if you do, you have not changed your habits; you must change your lifestyle.

About The Author
John Cook is a family guy who likes to help people get off and stay off the debt treadmill and secure the financial future of their family. You can read more about securing your families finances at his website www.financeforfamilies.com.

Time Management

Time Management by: Gus

With the creation of the universe, God gave humankind a miraculous gift. A wonderful gift which cannot be seen or touched but without which there will be no meaning in life. In fact without which it would be difficult to imagine life. It is time!

God being kind and just gave this to all of us in equal quantity. He knew that some of His children would be wasteful. So He gave it in such a way that they would not be able to waste all of it. He assured a continuous and fresh supply of it. Each day He gives us a fresh supply of twenty four hours or 1440 minutes or 86,400 seconds per day to each of us—poor or rich, good or bad, man or woman.

We may have handicaps of education, money, and connections. But we are not handicapped by time. It is given equally to all. It is the most important ingredient in success. Use your time wisely and nobody can stop you from succeeding.

Time management is the key to keeping your New Year Resolutions.

How to use time wisely? Of course, by managing it wisely. Here are a few tips to manage your time.

1. Eliminate Big Chunks of Wastage of Time: We are usually Pound Foolish, Penny Wise. We jump red light to save a fraction of second but before that we might have already wasted hours in some useless activity. There are big chunks of time which we usually waste—sleeping long hours, wasting time in front of TV, gossiping, in drinking and dining parties, etc. If you spend two hours each way in commuting to office, you have to find some solution to it. Either change office or residence or utilize the commuting time in reading (if traveling by bus or metro) or listening to useful audios.

2. Eliminate Wastage of Time on Irrelevant Activities: We are usually not focused in our life. Not only we should have a single goal in life but all our efforts and time should be directed towards it. If you want to write a book, not only you have to eliminate big chunks of wastage of time, but you should also avoid irrelevant activities such as, may be, a side business, politics, and involvement in activities of various social activities which may be good in themselves.

3. Plan your Time: Planning is very important for time management. One obvious benefit is that as you would never put in your plan items of big chunks of wastage of time and irrelevant activities, they would be eliminated automatically! Write down your daily, weekly, monthly, yearly, and may be even more long term plans.

About The Author
Gus is the writer of the recent ebook Be Happy! The Guide comes with an Action Plan. The Guide, divided into three parts of Body, Mind and Heart, and Soul, deals with various sources of happiness and how to be happy. The Action Plan gives To-Do lists, Happiness Quotations, Affirmations and Meditations, etc. For more information, please, visit: www.thelifebeautiful.com.

Looking for Love In All The Wrong Places

Looking For Love In All The Wrong Places
by: Geela

Quote of the day: 'All that you seek you already have within you.'

Practically every year finding love is at the top of Americans’ list of resolutions for the New Year. That’s the good news. The bad news is that most Americans are looking for love in all the wrong places.

The way I see it, the definition of love should not be limited to romantic love alone. Love is more than a sentiment. Love is a way of being. The broader definition of love should also be a longing for experiencing a life of fulfillment, purpose, meaning, inner peace, fulfillment, real joy and self-worth. After all, everything we do is to either experience more love and fulfillment or to compensate for the lack of it.

Some people have been willing to go under the knife, and endure excruciating pain, to change their looks (hoping the mirror will still be kind just a little longer and gravity will not take its toll anytime soon). Some people have deprived themselves of food while on the quest for attaining the perfect body. They have been willing to go into huge debt and endure the worst kind of pain and humiliation that comes from compromising one’s integrity and selling their soul just to support a life-style and status they couldn’t afford. Some even ignored and deprived the biggest part of their Self, their spirit, which allows them to experience all the very things they set out to attain in the first place. In short, you name it and they endured just about anything in their quest for love.

Even for those who were able to achieve material success, it was only a hollow victory since no amount of money, good looks, status and/or trophies could fill up the void inside which was created by a malnourished spirit. They too discovered that “when you get there, there is no “there” there,” and that external riches don’t necessarily have the power to give us internal riches (“real love” defined as fulfillment, purpose, meaning, inner peace, real joy and self-worth) that we are desperately seeking. At best they were flirting with the illusion of love rather than experiencing the real deal.

In a “more is better” culture where vanity, and not virtue, is worshipped (consider the growing trend of reality TV shows such as “For Love or Money”) it’s easy to understand why we have been looking for love in all the wrong places. Yet surprisingly, we have ignored the fact that the natural state of our spirit is love, which is the driving force behind all creation. Hollywood stars, the media and multi-billion dollar industries have all brainwashed us to believe that we are simply not adequate, worthy or good enough to be loved just the way we are and that it is only “He with the most toys, and not joy, lives.” The reality is that finding true love should not be either painful and/or costly. You can find true love (in the broader definition) no matter what you have been brainwashed to believe. First you must recognize that you are a spiritual being first, having a human experience (and not the other way around) and therefore, your natural state of being is love. As such you were meant to live a life of meaning, purpose, fulfillment, real joy, inner peace, and abundance by reconnecting with your spiritual roots (living in harmony with universal laws characterized by integrity, giving and the honoring of all living things). We can’t truly be happy and fulfilled without the element of giving. Real joy comes from making a meaningful difference in people’s lives, when money and power are used as useful tools to help make a difference.

Next time you are tempted to look for “love” in all the wrong places, consider the definition of real love. Most importantly remember that all that you seek is not “somewhere out there,” but rather it is already within you. All you have to do is recognize it and enjoy it while you can.

About The Author


Copyright © 2004-2005, Geela
Author of “The American Dream”
http://www.Geela.com

Top 10 Secrets to Avoiding “Marital Money Chaos©”

Top 10 Secrets to Avoiding “Marital Money Chaos©” by: Cindy Morus

Money can wreck a relationship. In fact, how they spend, save, and account for money is one of the leading sources of disagreements between couples. In almost every study, money ranks as the first or second most argued-about topic for couples and partners. If you currently suffer from “Marital Money Chaos©” you can follow these secrets and achieve more financial success together than you ever could have dreamed. If the two of you can improve your relationship with money, you will also improve your marriage. Money can be romantic!

Secret #1: Know your spending style and your partners’

How many of you are married to your “Financial Soul Mate”?

The most common are spending styles are Spenders and Savers but there are also the Procrastinators/Avoiders/Deal with it Tomorrow types and the Money Meek/Humble/ personalities.

What are the benefits/good things about each style? What are the things you call your partner when you fight about money?

Find ways in which you can take advantage of your personality strengths and minimize the weaknesses of that style. In the best possible scenario, you will both acknowledge your differences and move to the middle.

Secret #2: Values Driven Spending

Values are different than goals

Values: Creativity, Freedom, Friendship, Financial Security

Goals: Be debt free, get a new car, and give more to charity

Take some time to choose your top 5 values and define each of them in your own words. Share the definitions and use them to understand your partner and what is important to them. If your partner’s money behavior confuses you, ask which value they are satisfying. They may be doing their best, but their definition is different than yours. If you both use the same value word but have different meanings, you’ll have conflict.

Secret #3: Have regular Money Meetings or Money Dates!

How many of you think that money is romantic? Actually, since couples fight more about money than anything else (it is estimated that 80% of divorces are the result of money disagreements), having an honest talk about household finances might be better for your relationship than anything else you can do! Financial well-being and peace of mind are certainly romantic!

It doesn’t matter how much money people have, money is a daily event. That increases the chance of it triggering arguments and tension. Use regular meetings as a way to avoid conflict

Secret #4: Enjoy the present and save for the future

Everyone needs to have their own play money. Ideally 5-10% of your family’s income should be set aside for play. What’s the use of working every day if you don’t get to spend some money on play?

Secret #5: Have a needs/wish list for each person and for the family

We all have things we wish we had and those we need to purchase. Check your list on a regular basis so your subconscious can focus on other things. It’s also great fun to check off the things you take care of. Great place to go to find out how to spend bonuses or other windfalls.

Secret #6: Divide financial responsibilities between partners

Focus on each person’s skills, interests and availability rather than relying on out-dated gender stereotypes or how much money one partner makes. Share what’s going on with your partner during your monthly meetings and make big decisions together.

Secret #7: Each person has some money they do not have to account for/

This is probably one of the MOST important things you can do for your relationship. No grown up likes to have to ask for an allowance or justify every little expenditure they make. Determine in advance how much money each person can “do with what they will” and no questions asked. Savers can save, spenders can spend, procrastinators can leave it in a jar and the money meek can feel free to give it all away.

Secret #8: Take action, one step at a time

I can guarantee that you will save $1000 1 year from today if you put away just $2.74 per day. Where can you find $2.74 each and every day? Do the same with larger goals. If you want to go on a $2000 vacation next year, save $6 per day.

Secret #9: Learn something about money and finances every day

There are lots of good resources out there – websites, books, magazines, classes. You can start at my website: www.cindymorus.com where I have articles, calculators, book reviews and teleclass schedules.

Secret #10: Plan your spending and spend your plan

I know, no one likes the “B” word (I call them spending plans) because they feel restrictive. Instead, plan your spending ahead of time and give yourself permission to spend money in certain areas and get creative about the areas where you choose to spend less. When we feel like “going out” at our house, we have “no silverware dinner” of ribs, french-fries and artichokes. We spend the time enjoying ourselves and creating memories without spending a lot of money. I bet you can do the same!

(c) Phelps Creek Financial Coaching - All Rights Reserved

About The Author
Cindy Morus (www.cindymorus.com) is a Certified Financial Recovery Counselor specializing in showing women and their families how to achieve financial well-being and peace of mind. She is also a Certified Credit Report Reviewer. Contact her at 541-387-2995 or cindy@cindymorus.com. Get a free copy of the "Secrets to lowering your Credit Card Interest Rates" e-book when you sign up for the "Women's Financial Freedom Monthly" newsletter at www.phelps-creek.com/newsletter.asp.

3 Sure Fire Ways To Beat New Year Financial Stress

3 Sure Fire Ways To Beat New Year Financial Stress by: Robert S. Laura

1) Get CREATIVE

Don’t fall victim to typical or cliché financial goals that you know, from your own experience, you haven’t been able to stay focused on. Switch things up and simply commit to spending 10-15 minutes, one day a week, thinking about ways you can turn regular spending into savings. Choose a specific dollar bill, for example, a five or ten dollar bill, that you will separate and save for a special purpose every time one ends up in your possession. Or if you’re not ready to brown bag it at work, commit to drinking water every day with your lunch. This should save you about $1.50 a day, which, over an entire week should cover the cost of your lunch on Friday.

2) Pinpoint Financial STRESS

Not sure where to focus your financial efforts? Start by finding out where the greatest opportunity is by asking yourself, “What’s the one thing you don’t want anyone to know about your current financial situation?” The answer should concisely pinpoint the financial area of your life that needs your most urgent attention.

3) Sleep on IT!

It’s getting more and more difficult to keep up with Joneses who inevitable continue to raise the perceived standards of a good living. Commit to a dollar amount that you will not spend until you have thought it over for 24 or 48 hours. By avoiding compulsive expenses, you can save hundreds of dollars.

Robert Laura is the author of Financial Karma: Real Life Financial Strategies (www.financialkarma.com) and the President of Financial I.Q. – “The Cash Flow Consultants.” robertslaura@financialkarma.com

About The Author
Robert Laura is a money management expert, speaker, and the author of Financial Karma: Real Life Financial Strategies (www.financialkarma.com) and the President of Financial I.Q. – “The Cash Flow Consultants.” robertslaura@financialkarma.com.

Can't Afford To Retire Until 7 Years After You

Can't Afford To Retire Until 7 Years After You by: Lin Schreiber

Most people think that's all retirement is about -- having enough money to sit on the deck, play golf, and visit the grandkids. But that's the old model -- not today's retirement. I believe you can revolutionize your retirement even if you can't count on 80% of your current revenue when you stop working. (That's the secret number according to many retirement experts.)

Someone who turns 65 today can expect to live until age 83, according to the US Bureau of Labor Statistics. So, even if you stop working at the normal retirement age, you've got nearly two decades to fill with things that really matter to you. And, if you give up traditional employment sooner, you've got even more years to enjoy the 'third half' of life. Today the average retirement age is an astonishing 57.

I said 'enjoy,' and I mean it. To do that, you need to put yourself squarely in the driver's seat -- decide when and how you retire and who you will be. Don't let someone else's definition determine your retirement.

So, begin by putting the money issue aside entirely. That's right. Just forget about money and take a good hard look at the life you want to be living. Start journaling, brainstorm with friends and family, and dream a lot. For inspiration, download the Retirement Re-Tool Kit Ebook at http://www.RevolutionizeRetirement.com/revolutionize.htm and follow link after link of ideas and tools to help you plan the perfect retirement for YOU.

OK. So money does have something to do with it. Now's the time to figure out exactly how much you have and what you'll need. Maybe you'll discover that you have enough money to do everything you want to do. Congratulations!

But what if you don't? Will you need to work until seven years after you're dead? Or can you still create the retirement of your dreams? Of course you can. Here are some ways to make that happen.

First, sharpen your pencil and reconsider how much is enough? Maybe you don't need to stay in the big house and take care of all that stuff. Perhaps you'd love to simplify your life by living out of your RV as you travel the country. What could you downsize or let go of to buy yourself a more carefree existence?

Second, consider supplemental income. Wait a minute, didn't I just say you were going to stop working? Well, there's work. And, then there's work.

Larry was an art teacher in an urban high school for his entire career. In retirement, he followed his passion for painting and also volunteered at a national art society near his home. His experience, enthusiasm and organizational skills so impressed the Director that Larry was offered a part-time position as Assistant Director. Although he has less time for his painting, the supplemental income allows him the luxury of another passion -­ regular trips to Italy.

Maybe you've been passionate about your hobby all your life -- making woodcarvings, gardening, or playing bridge. What about a part-time job as a gardening assistant during the summer, selling your work at craft fairs, or getting certified as a bridge instructor?

Think about what you love to do, the best times in your life, what you never had time for when you were raising children and working full time. If you love animals, become a pet sitter. Consider working in a day care center, if small children delight you.

Try seasonal employment. That's what Betty and Bob do. They say they're 'rewired,' not 'retired.' Each winter they close their Maryland home, pack up her home-based marketing business, and head to Snowmass, Colorado. For the next two months, they work for the ski corporation -- alongside college kids from Australia and a few other couples their age. He parks cars and slings skis on busses; she helps families plan their vacations at the resort. The minimum wage they make covers basic expenses, they each get a season's pass worth $1,799, and they only work a few days each week. The rest of the time they follow their passion ­ on the ski slopes.

Seasonal employment is available at National Parks, community facilities, and as travel hosts to exotic places. Furthermore, there are lots of Web sites that specialize in senior employment listed in the Retirement Re-Tool Kit Ebook.

But if you really want to make the most of the 'third half' of your life, consider packaging what you know and sharing it with others. That's what Miriam did. After 30 years of a successful therapy practice, she traded her East Coast home for a West Coast apartment. With her savings and a handsome settlement from her ex-husband, she lived the good life. Then one day the money was gone. Already in her seventies, she picked herself up, buffed up an old passion, and began writing psychological thrillers. Today, Miriam is making more money than she did during her other career ­ and she's having a lot more fun.

What will it take for you to let go of your outdated beliefs about money and retirement and get inspired to revolutionize the 'third half' of your life?

Remember, money is merely one of the 15 'must haves' for a thriving retirement. While taking charge of your life, having dreams for the future, and a purpose that pulls you out of bed in the morning are not as tangible as, say, $1.3 million in assets, they're just as crucial.

About The Author
Lin Schreiber, is a Speaker and Certified Retirement Coach, and the author of '88 Tips for Planning a Healthy, Happy, Enriching Retirement Life' available at http://www.RevolutionizeRetirement.com.

Investors Lose Buying Market Leaders -- Stop Chasing Performance

Investors Lose Buying Market Leaders -- Stop Chasing Performance by: Tim Olson

You read right. Millions of investors guarantee their failure by selecting mutual funds and stocks based on quarterly or annual performance records. Do you chase performance? You might be buying high and selling low!

As the year draws to a close, millions of mutual fund investors begin an annual event to divine next year’s winners. Yet most of these individuals rely heavily on a time-honored – but terribly wrong – method of evaluating strength. Whether analyzing screening tools from websites, reviewing fund honor rolls in magazines, or using star ratings from fund analysts, normally savvy business people foolishly chase the returns of last year’s hottest investments.

This begs the question: Can top performing mutual funds lead two years in a row? Consider a study commissioned by Vanguard Investments Australia and released by Morningstar. The five best performing funds were analyzed from 1994 to 2003. Here are the results:

• Only 16% of top five funds make it to the following year’s list.
• Top five funds average 15% lower returns the following year.
• Top five funds barely beat (by 0.3%) the market the following year.
• 21% of all top five funds ceased to exist within the following 10 years.

Academic studies and market statistics confirm the typical investor acts in direct opposition to the sage advice – buy low, sell high. It’s only after high returns are realized and reported that investors pour money into both stock and bond mutual funds. In fact, Financial Research Corporation compared investor cash flows into mutual funds. Purchases immediately following best-performing quarters exceed 14 times those immediately following their worst-performing quarters. In other words, you are 14 times more likely to buy funds at their highest price than at it’s lowest. Buy high and sell low.

Just what kind of damage are they inflicting to their investment returns? DALBAR, Inc., conducted a well-known study called Quantitative Analysis of Investor Behavior. The study confirms investors’ poor timing and the resulting financial carnage. Investors buy funds immediately after a rapid price appreciation. This just happens to be right before investment performance wanes. Prices fall soon after and the investors quickly dump their holdings to search for the next hot fund. The resulting returns fail to even beat inflation! When measured over the last nineteen years, the average equity investor earned a meager 2.6% annual return. Compare that to a 3.1% inflation rate and a 12.2% return from the S&P 500 over the exact same time period. Not only did investors fail to keep up with the market, they also lost money to inflation.

We’ve all seen the warnings on packages of cigarettes. Even smokers understand their relevance; smoking is not a healthy activity. So why do investors not heed warnings about mutual fund returns? You’ve all seen those statements too. But can you remember what is said? Past performance is not a guarantee or indicator of future results. Research and studies have proven this fact, yet the majority of investors choose to ignore this warning. Yes, it’s an easy means of comparing funds. It also happens to be completely irrelevant. Let me evangelize these words for you. Past performance does not predict future results!

Here’s how you can stop chasing short term performance and stay focused on your financial goals. Identify appropriate long-term investments by evaluating the following:

• Group leadership: How does the fund perform relative to similar size and similar style funds?
• 
  Management tenure: How long have the managers and advisors been at the fund?
• 
  Management skill: Are managers well-known and highly-regarded (e.g. remember Peter Lynch)?
• 
  Consistency of returns: Are the 3, 5, and 10 year returns all above average?

Finally, measure returns based on your entire portfolio. History shows that no single investment success repeats. Accept the fact every year is different and brings new leaders and laggards. Use an asset allocation strategy to guarantee balance and increase long term returns among all your investments. Invest in a diversified portfolio to meet your financial goals — and stick with it.

Not yet learned your lesson? Consider this: Fourteen mutual funds topped the 2003 charts with returns over 100%. In 2004, these fourteen funds lost over 4% while the S&P 500 gained over 9%. Congratulations, chasing performance lost 13% of your money this year.

About The Author
Tim Olson http://TheAssetAdvisor.com Subscribe to our free newsletter.
Mr. Olson is the editor of The Asset Advisor, a financial investment service providing proven strategies for no-load mutual fund investors. He brings 26 years of education and experience from Stanford University, Ernst & Young financial consulting, personal wealth management, and venture capital investing.

Rebuild & Keep Good Credit Ratings by Understanding Your Credit Cards

Rebuild & Keep Good Credit Ratings by Understanding Your Credit Cards by: David Hall

SECURED CREDIT CARDS

Secured Credit Card is similar to a prepaid credit card since the funds you are using are actually yours and not the issuer of the credit card. Generally people who apply for secured credit card or prepaid credit card are people with poor credit or unemployed. Prepaid Credit Card spending limit is the amount of money you loaded to the card. There are no interest or finance charges on a prepaid card. With secured credit card, your credit line could be from 50% to 100% of your deposit depending on the institution giving you the secured credit. Therefore the company giving you the secured credit card has zero risk.

Secured credit card can be very beneficial because it gives you an opportunity to rebuild your credit history and you are able to make purchases just as if you had an unsecured credit card. Many companies require that you have a credit card to make purchases, such as car rental, airline tickets, etc. Ensure that the company issuing the secured credit, routinely reports customers' payment history to any of the three main credit bureaus namely Experience, Equifax and Trans Union. This reporting to the credit bureaus will rebuild your credit history over time.
Closing unnecessary accounts and consolidating your bills to make payments more manageable could be an advantage financially. By not applying for too much credit within a short period of time is another factor that will help in rebuilding your credit rating. Additionally, even though secured credit is like prepaid cards, they do have certain fees attached. Benefits are similar to that of an unsecured credit card, such as usually being paid interest on your balance in the bank, using Automated Teller Machines (ATM) to make deposits, withdrawals, and making purchases at participating merchants. Following the above steps will strengthen your credit rating.

UNSECURED CREDIT CARDS

Unsecured cards are issued to individuals with good to excellent credit rating. Credit ratings depend on certain criteria, such as one's ability to repay loans. These criteria include payment history, employment history, and financial stability. Individuals with excellent credit will most likely receive a lower interest rate. A major factor in maintaining excellent credit is making your loan payments on time thus avoiding late fee penalties.
Customers should read the credit agreement to ensure that they understand their obligation to the creditor. Making payments on time will strengthen your credit rating. Unsecured credit cards has numerous advantages such as low interest rates, high credit limit, business name options, no annual fees, and low APRs on balance transfers up to 12 months. Closing unnecessary accounts and consolidating your bills to make payments more manageable could be an advantage financially. By not applying for too much credit within a short period of time is another factor that will help in maintaining a good credit rating.

REBUILDING YOUR CREDIT

It takes time, patience, and consistency. If you consistently pay your bills on time, you will see an improvement in your credit ratings over time. There are no quick fixes for improving your credit report except for mistakes or inaccuracies that can be corrected, hopefully in your favor. Your credit information is maintained by the credit bureaus namely Experience, Equifax, and Trans Union for seven years. Therefore poor credit information will remain on your report for seven years. The good thing is that as negative information disappears with positive information, this will definitely rebuild your credit rating. Closing unnecessary accounts and consolidating your bills to make payments more manageable could be an advantage financially. By not applying for too much credit within a short period of time is another factor that will help in rebuilding your credit rating.

Applying for secured credit card can be very beneficial because it gives you an opportunity to rebuild your credit history, and you are able to make purchases just as if you had an unsecured credit card. Many companies require that you have a credit card to make purchases, such as car rental, airline tickets, etc. Ensure that the company issuing the secured credit, routinely reports customers' payment history to any of the three main credit bureaus namely Experience, Equifax and Trans Union. This reporting to the credit bureaus will rebuild your credit history over time.

BUSINESS CREDIT CARDS

Business credit cards are very popular for small business owners because of the many benefits they offer. Benefits includes 0% Intro APR on balance transfers, no annual fees, high credit limit, low interest rates, cash rewards, bonus miles, free online account management to choosing card design etc., At iCreditOnline.com we have some of the best business credit cards from American Express, Advanta, Chase, Bank One, Bank of America, Discover, Citibank, Household Bank and more, with online credit card approval. Why waste time going to a bank when you can get a decision in less than 60 seconds with secure online credit card application. Online Credit Card Approval with Online Credit Card Application is fast and easy!

STUDENT CREDIT CARDS

Having a student credit card while still living at home or attending school away from home can be an advantage. It gives the student the opportunity to establish credit at an early age and to start asserting their independence. It comes in handy in case of emergency, it is less trouble and safer to carry a student credit card than to carry cash. Parents find student credit cards to be very convenient. They are able to make deposits to their children's account while they are away from home. Students should be careful with their credit card receipts to avoid identity thief.

If you consistently pay your bills on time, obtaining students credit cards is a good way to established credit rating and start building a good credit history while in school. Establishing and maintaining a good credit rating will make it easy to purchase a car, a home or obtaining a personal loan in the future. For students who are not committed to their financial obligation, getting a student credit card is not a good idea. Running up balances, finding yourself in debt, unable to make monthly payments will destroy your credit rating.

Student's credit cards generally have high interest rates. At iCreditOnline.com we offer some of the best student credit cards from Chase and Discover with 0% APR introductory rate for 6 months, no annual fees and online account access. Online credit card approval with online credit card application is fast and easy!

EXPLANATIONS OF SOME OF THE CREDIT CARD TERMINOLOGY

0% Intro APR Credit Card or Balance Transfer Credit Card - gives you the benefit of using this credit card without making any interest payment on the principal for a stated period of time. This credit card is marketed to individuals with good credit rating who want to transfer balance from a high interest credit card to a 0% intro APR credit card.

Cash Rewards or Cash Back Credit Card - earns a percentage on purchases made. This reward or cash back is credited to your account.

Debit Card - takes the place of carrying a checkbook or cash. This card is used like a credit card with certain limitations, such as not being able to rent a car. Purchase transactions are contingent upon having enough funds in your checking or savings account to cover the purchase. Verification of funds requires entering your Personal Identification Number (PIN) at a point-of-sale terminal.

Low Interest Credit Card - saves you money. Having a good credit rating qualifies you for some of the best low APR credit card offers.

Prepaid Credit Card - spending limit is the amount of money you loaded to the card. There are no interest or finance charges on a prepaid card. Therefore the company giving you the prepaid credit card has zero risk. Generally people who apply for prepaid credit card are people with poor credit or unemployed.

Secured Credit Card - is secured by the amount of funds you have in your account. Your credit line could be from 50% to 100% of your deposit depending on the institution giving you the secured credit.

Unsecured Credit Card - is issued to individuals with good to excellent credit rating. Credit ratings depend on certain criteria, such as one's ability to repay loans. These criteria include payment history, employment history, and financial stability. Individuals with excellent credit will most likely receive a lower interest rate and can receive instant online credit card approval. A major factor in maintaining excellent credit is making your loan payments on time thus avoiding late fee penalties.

Travel Rewards Credit Card - benefits may include travel accident insurance, free rental car collision/loss damage insurance, rebate on gasoline purchases, frequent flyer points or bonus miles towards airline flights, free quarterly and annual account summaries.

About The Author

David Hall owns iCreditOnline.com. He offers free downloadable, high quality guides on credit repair, credit ratings, credit scoring, debt consolidation and more. He has tools for finding a wide range of financial services including secured and unsecure cards, student and business cards, auto loans, and more from the most reputable companies in the industry. You can also compare multiple credit card offers, securely complete an online credit card application, and receive a credit decision in less than 60 seconds. Visit David's site today: http://www.iCreditOnline.com

How to Avoid Credit Card late Fees

How to Avoid Credit Card Late Fees by: Daryl Flagg

Everyone hates late fees and being late will cost you dearly these days. For some credit cards today, if you are late, you will have to shell out as much as $40 each time. This can put a nice sized hole in your pocket really quick.

Below, I will provide you with some tips and strategies on how to steer clear of those monstrous late fees. This will not only save you a lot of money in the long run, but it will also keep those money-hungry credit card companies, I won’t mention any names, from getting your hard earned money.

Just pay your bill. One of the easiest ways of avoiding a late fee is to just pay your bill each and every month by sending in a check, money order, or other type of payment to your respective credit card issuer. Just make sure you follow the numerous guidelines, which are usually outlined on the back of each credit card bill, on how to send in your payment. These guidelines must be followed precisely if you want to guarantee that your payment will go through on time.

Payment guidelines may include everything from a specific payment address to the time of day by which the payment must be received to be credited that day. Many issuers also stipulate that payments must arrive in the preprinted envelope sent to the customer.
While the Fair Credit Billing Act requires issuers to credit payments the day they are received, each issuer is allowed to set specific payment guidelines. If any of the guidelines are not met, the issuer can take as many as five days to credit the payment.

An on-time payment could easily become late during that five-day period, so follow those payment guidelines carefully.

Just skip the payment. One of the more rare types of methods you hear of are Skip-A-Payment services. You can use these services to skip mortgage, credit card, or loan payments. Usually you would need to get in contact with your bank just to see if you even qualify or not. There are also independent companies out there that will allow you to do the same thing, no matter what bank you are a member of. Depending on whose service you use, the fee’s associated with it vary. When you use these types of services make sure you know how much you will be charged then decide if it’s worth it or not.

Pay minimum due immediately. One of the best ways to prevent a late fee from being charged to your account is to pay the minimum due immediately. As soon as you receive your bill, send in the minimum due. This will always insure that your credit card issuer received payment. You can always send in more money later if you decide otherwise. This is a great way to avoid missing a payment because if you forget to send extra money you can guarantee that you won’t be charged a late fee because the minimum due has been already been paid.
Move your due date. Are your credit card bills due at a time of the month when you're running low on cash? Many people have trouble saving money, so when it comes time to paying their credit card bills, they don’t have any cash to do so. One particular solution is to move your due date. Many credit card issuers will allow you to set your own due date to meet your specific needs. If you have trouble saving money, move your due date to a time when you do have money, like as soon as you get your paycheck. If you time your credit card bill to come the same day you get paid, you will always have cash to pay the bill.

Pay by phone. If you are one of those people that wait to the last minute to do everything or if you just forgot to send in your credit card payment early enough, you could always pay by phone. This guarantees that your payment will be on time. Just supply the representative on the other line with your checking account number and your bank routing number, which is printed at the bottom of each check. Usually the routing number is first and the account number is second. A lot of issuers allow you to pay by phone and some will charge you a pretty penny for doing so. Fee’s can range from $5 to $20.

Use other express methods. If your bank does not offer a “pay by phone” service and you need to get your payment to your credit card issuer as soon as possible, I recommend either sending your payment in by express mail or by Western Union. Either one of these services can get your payment to your credit card issuer immediately. These express methods are costly, but it will always most likely be cheaper than any fees associated with being late. Make sure you send your express payment to the proper address. Many issuers have separate payment addresses for express payments. The last thing you want to do is slow the processing of an express payment by sending it to the wrong address.

About The Author
Daryl Flagg is the founder and CEO of Next Month Online. Next Month Online is a service that allows its visitors to skip credit card payments. They can be found at http://www.NextMonthOnline.com. Sign up for free!
info@NextMonthOnline.com

Handling Debt in 2005

Handling Debt in 2005 by: Paulson Lopedro

Debt is a problem that is ever increasing in our society today. Offers for credit cards coming in the mail is happening more and more often, interest rates are appearing low, and borrowing money seems like the “smart” thing to do at times. However, it seems that going into debt is not that good of an idea after all, and now many people are stressed to get out of debt.
Are you caught in debt yourself? Fortunately, there are steps that you can take to get yourself out of debt.

1. Make lists. Figure out what you own, and figure out what you owe. Take what you owe, and put the major debts at the top of the list. Paying off those debts first will reduce the amount of interest that you are charged. Once that is paid off, you can then move on to the next item on the list, and so on.

2. Do away with all credit cards. There are no buts, simply get rid of them. Do not roll over balances, ever. Pay them off and get rid of them. Call the credit card companies and tell them to close up the accounts.

3. Make a spending plan or a financial plan if you will. Getting out of debt is as important as staying out of debt, and that requires a financial plan that will allow you to live within your income. Also, it is not enough to simply make a financial plan. Sticking to it is the only way this can prove beneficial.

4. Watch your home’s equity. It does not have equity for the sole purpose of purchasing new furniture and going out to dinner a few times. Be intelligent and don’t misuse this.

5. Don’t be scared to get assistance if you require it. Many people simply cannot manage their expenses. The best thing to do if you are in this condition is to recognize the problem if it exists, hold yourself responsible, and ask others for help if it is needed.

Doing these things should help several people be on the right track to get out of debt. Debt can be a frightening and risky thing, it is just imperative to be wise and to handle things well. Americans are overwhelmed with almost a half of a trillion dollars of debt, with half of them passing off debt from one credit card to another, simply to keep away from ever having to pay it off. Don’t be a statistic, manage your finances and spend intelligently.

About The Author
Paulson Lopedro is the Webmaster of FindDebt.com.
You can read more of his work at http://www.finddebt.com.

Want more Money? Live below your means

Want more Money? Live below your means The Cincinnati Post

This article states that if you need more money you have two choices. You can increase your income or you can reduce your spending. It goes on to state that you benefit more by reducing your spending. It's instantaneous, reduces stress, and you will be more content.

By reducing your spending you are changing your old habits of overspending and incurring too much debt.

Seven steps to financial fitness

Seven steps to financial fitness csmonitor.com

If you can follow these Seven Steps to Financial Fitness you will be on your way to a more profitable year. Stick to your budget is my favorite step.

I believe that if you set up a reasonable budget and you follow it you will at least not cause any more financial damage. Meaning you will not add to your debt. Then you can try to use any money left to pay down your debt or add it to savings.

Financial Regret? Step Up to a Debt Reduction Challenge in 2005

Financial Regret? Step Up to a Debt Reduction Challenge in 2005

One of the steps to successful money management is to manage the debt you have accumulated from the money you have already spent. The interest on this debt is like having a hole in your pocket. You are just throwing this money away. Think how much better off you would be if you could save it and invest it instead of giving it to someone else.

By paying off this debt you are actually saving money. Once your debt has been paid off you can really start to invest and bring yourself closer to Financial Freedom.

Money Management Rules for Career Starters

Contributors - Inside INdiana Business with Gerry Dick

Gerry Dick describes the philosophy that I believe in. The rules set forth in the article are basis for attaining wealth. This is not a get rich quick lifestyle but if you follow these rules they will lead you to a debt free lifestyle and hopefully financial freedom at an early age.

MSN Money - The Basics Fine-tuning a winning ETF portfolio for '05

MSN Money - The Basics Fine-tuning a winning ETF portfolio for '05

Tim Middleton (MSN Money) tweaks his ETF portfolio for 2005.

The model portfolio of exchange-traded funds he launched a year ago is finishing 2004 with a gain of 11%, handily beating its benchmark of stocks and bonds, as well as the market itself. Its benchmark was the Vanguard Balanced Fund which finished the year up 9.1%.

See what changes he is making for the new year.

Money Management Tips - Welcome

Welcome to the Money Management Tips Blog. The purpose of this blog is to provide a central place to to find information on how to management your money.

The plan is to collect information on how to eliminate debt, live happily within your means, and learn to save and invest wisely.

The desired result is to achieve Financial Freedom.

I hope you will find this information useful and I welcome your comments.