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Still Waters Run Deep: The Biggest Threat to Your financial future.
What is the biggest threat to your wealth?
 Your financial independence is quietly warm-eaten by the “bark beater”, called negligence. Believe or not, that’s one of the most ruinous things that can rob you of money over your lifetime. How might this happen? Hmmm… Your boss is calling you. He’s got an emergency complaint from a client. But your mom need to break in on call, again, complaining about your sister's boyfriend. Whereas, in the back of your head you hear: "Should I have refinanced my home mortgage to get a lower rate?" or “When the hell will I have time to set my retirement plan?” or “Damn, I forgot about the fee for this month. They will hike up interest’s rates!”
That’s enough to try the patience of a saint! You are really busy. You don’t have time to set your files in order. Bills, fees, college tuition, house-, auto- or health- insurance, whatever else… wouldn’t it be much easier to keep all this under control in neat, coordinated folders? Oh My… do you invest…? Do you know what returns you get? Yeah, that’s a pretty good achievement, you managed to check the performance of your 401(k) funds this year.
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Read more... [Still Waters Run Deep:]
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 More than 80 million Americans are members of credit unions. But credit unions rarely advertise, so if you want a credit union, you have to look around to find one by yourself.
Credit unions are member organizations, so by depositing any money you become a stakeholder in the institution.
The members of first credit unions were usually bounded by profession, but nowadays their common bound can have geographic, social, civic, professional or even religious character.
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Read more... [Find A Credit Union.]
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How bad credit can affect you. |
 How can bad credit derail your financial plans? Well, lenders seems to have shut the door on credit opportunities for those with a doubtful credit history. But this doesn’t mean bad credit can affect only your loan-chances. Your vague financial record can impact as well your job, insurance, loan, mortgage, rent and even (or sometimes most significant) credit card use. If want to get a new job, you go for an interview. But even if the first impression is good enough, your credit might scare off… If you’re going to rent a house, be prepared for paying more in some areas. A house is a large investment, that's why your credit plays a critical role. Be prepared your for options to pay for it might be limited. Finally, if you run out of cash, it would be very useful to pay with credit card.
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Read more... [How bad credit can affect you.]
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 What to choose Credit Card or Debit Card? This is the question we face every day. Well, we opts for credit.
These are the reasons to choose Credit Card over Debit Card:
• Interests to rake in.
It’s better to pay with a no-fee credit card than with debit card. If you pay off your balance at the end of the month, you’ll allow your money to grow in an interest-bearing account until your bill comes due.
• Emergency wicket.
If you get into an argument with a merchant or vendor, using a credit card makes it easier to reverse the charges.
• Liability shield.
Will someone get your credit card and reduce it to rubble, you're typically responsible for only $50 worth of fraudulent charges. But if you’re unfortunate owner of stolen debit card, you may be accountable for as much as $500 in deceptive purchases, unless you report the theft within two business days.
• Less costs.
Some banks charge customers for debit-card transactions. Fees range from 25 cents to $1, depending on the bank. With "signature-based" transaction, you evade these fees.
• No blocks of your money.
Use a debit card to reserve a hotel, rent a car or even fill up your tank and you’ll get a "block" on your checking account until the transaction is processed. Buy $25 worth of gas and it will result in $100 of the money in your account being "blocked." Vendors. The amount of the block can significantly exceed the purchase price. If you're running a low balance you may pay overdraft charges.
• Better rewards.
Debit cards offer rewards, such as air miles and cash-back bonuses. But credit-card rewards are better, according to Money Advisor.
Credit Card or Debit Card? I hope this question, we face daily, doesn’t leave most of us mystified anymore. |
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Are credit reports so important? |
 Credit reporting agencies share information with the major credit bureaus. They keep report of your previous dealings with someone else's money. If you are applying for a credit card, loan, or mortgage this report may decide, whether you get it, or not. It is the credit scoring system that lenders use to issue credit cards as well as mortgages or other loans.
So, if you’ve got the serious financial plan, great idea or maybe you simply need money, better check how lenders see you. Be aware of your credit report, just to know where you stand. This way you’ll prevent yourself from throwing a spanner in the works. If potential creditors discover problems, it could derail your plans.
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Read more... [Are credit reports so important?]
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