With Australians right around the country frugally looking for ways to tighten the purse strings during this economic downturn, it makes sense to look at every dollar thats leaving your account and work out where the moneys going.There are obvious ways you can reduce spending like cutting back on take away and your morning coffee, but to be honest Id rather not.So what would you say if I told you that you could save money every month...more
Contrary to the TV footage of the January sales, Australians have become a nation of savers.Not only have we been saving, we have also been paying down credit card debt and maintaining our mortgage repayments despite falling interest rates. In fact, after a decline in December, APRAs January figures show that deposits grew 1.4% and credit card balances declined 1.2%.So basically we are doing everything we have been taught to do, but not when...more
But bear with me for just a moment while you imagine this scenario: its the first week in December, youre about to start on the three week spending binge of gifts, food, decorations, booze and holiday accommodation, and you realise you havent set aside a penny, not a bean, to help you foot the bills.Fast forward to the end of January 2010, and you have the same Christmas debt hangover you had the same time a year ago.And without wanting to be the grinch who stole Christmas, here are a few statistics from the latest Dun & Bradstreet National Consumer Credit Expectations Survey: Eighteen per cent of Australians expect to apply for new credit or a credit limit increase One in five (19%) households expect their level of debt to increase in the coming months Seventeen per cent of Australians anticipate a need to use credit cards to pay for bills they otherwise couldn't afford One in four (25%) households are concerned about the amount of money they spent at Christmas and 7% expect they will struggle to pay their bills as a resultSo with all that in mind, the idea of starting to save for this years silly season probably seems less ridiculous.By putting away $20 a week...more
MortgageA mortgage is a type of loan, primarily used to purchase property, in which a lender or mortgagee provides credit facilities or finance to a borrower or the mortgagor, after obtaining a legal protection in the form of an official commitment, according to which the lender holds a legal right to sell or carry out transactions or activities to...more
The most vital part of your financial well-being is your credit score, commonly called your FICO score because most scores are determined on the Fair Isaacs Corporation Credit scale. When we typically think of the importance of our credit scores, we think of how this little three digit number is used by creditors to judge our creditworthiness to...more
As the UKs recession develops, debt advisers are being swamped by people desperately struggling to manage their mortgage repayments, credit cards and loan repayments. There has been a 40 per cent increase in people with arrears on mortgages and secured loans say the Citizens Advice Bureau, compared inquiries in 2008. The Consumer Credit Counseling Service (CCCS), which also offers free debt advice, is receiving 1,500 calls a day, while calls to the National Debtline are up 35 per cent. So, if you have debt worries how can these confidential services assist you? The Citizens Advice Bureau (CABs), who are they? They area a network of more than 3,200 CABs around the UK staffed by volunteers. Most of these offices have trained debt advisers. What do the CABs do? To start with before they can advise you, they need to know about your financial circumstances. So they will help you produce a list of creditors and income and expenditure.Once this is completed, they will double check whether your income can be increased. For instance, you may not claiming benefits or perhaps you are on the wrong tax code. Then they will consider your family expenditure. They look at your household bills...more
Private student loan consolidation cannot be generally mixed with federal student loans due to the low interest rate on the latter. However, there are several options open to refinance the private student loans by replacing them with another.The main...more
The number 1 objection I hear from real estate agents when the subject of doing a lease option or rent-to-own is broached is "How do I get paid?" Sometimes the agent will be concerned about how they get paid but don't want to flat out ask it. So...more
A frustrating situation that bankruptcy attorneys are often faced with is meeting clients who have drained their retirements in an effort to avoid bankruptcy, only to end up filing anyway. In a bankruptcy situation, funds in a qualified retirement...more
The skill in being able to manage could be a profitable secondary asset for any qualified employee or staff with any specific training in a certain area. Actually, the duties and responsibilities of the senior management personnel in any organization...more
Credit is becoming a necessity these days. Even if you can afford to pay for all your purchases in cash you wouldnt be very comfortable walking around knowing that you have a large amount of cash with you. Credit cards can easily solve your dilemma...more
For many people the thought of using an online e-currency can be a scary thing. We have all heard the horror stories of people being scammed and money being stolen by dishonest companies, but there are some companies out there that have worked hard...more