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Retiring with debt

Filed Under : Debt by admin

Jun.4,2010

As the first wave of baby boomers are starting to retire, we are seeing new trends among the 65 and older population than ever before, what is the trend? Retirees retiring but still in debt. Retirement funds such as IRAs, 401Ks, pensions and even social security have been set-up to help aging Americans retire from the workforce. However, due to inflation, our recent recession and expensive cost of health care, seniors are finding it harder than ever to retire at the golden age of 65.

A lot of budgeting is involved when you are getting ready to retire. Individuals must figure out how to set aside enough money to keep them “living” for at least the next 25 years. A near impossible task when you try to account for rising cost of living and medical costs. Not to mention if you have any sort of debt, including house payments, car payment and unsecured loan debt, ie credit cards.

While dipping into your retirement fund for the purposes of paying off debt is not fun, it is a must better alternative then making minimum monthly payments and letting interest compound on top of your existing debt. While many individuals can continue working and receiving benefits, we all must still budget enough to take care of ourselves so that we don’t become a burden on our children or future generations. When you are getting ready to retire it is best to speak directly with a financial planner.

Tags : Debt, debt consolidation, debt relief, financial planning, retirement

Unsecured Loans

Filed Under : Personal Loans by admin

May.28,2010

Many people will often look online for loans. You should be aware of two types of loans when you are conducting your search. There are secured loans or asset-backed loans. Example of these loans include mortgages, auto loans, and on the sub prime side auto title loans. There is also unsecured loan s. These loans are often referred to as personal loans. Unsecured loans are loans granted in good faith that you will use them for a good reason and pay it back by the terms agreed upon.

Many unsecured loans can be attained through your local bank or credit union if you have good credit. However, if you have fair to bad credit you will most likely find that only payday lenders may offer you an unsecured loan. Because of your credit history, you are considered a subprime customer. So to adjust for the lender’s risk, payday loan lenders charge a higher interest rate or APR. The default rate for people who take out payday loans and never pay them back is 60%. So you may understand why it costs you on average $100 in interest and fees to take out a $500 payday loan.

Before accepting any unsecured loan make sure you understand all of the terms and conditions with your loan.

Tags : payday loans, secured loans, subprime, unsecured loans

Extra Cash

Filed Under : Uncategorized by admin

May.25,2010

Avoiding paying those bills due to no money? Don’t! Its time to find an extra or part-time job. It may not sound very glamorous or fun BUT getting behind on bills hurts you credit and your pocketbook. Here are some ideas to help find the right FUN “part-time” job for you!

Elder Care- With our aging baby boomer population, you will find more and more older adults looking for help. Whether it be cooking, cleaning, or just chauffeurs on the weekends, millions of people need part-time able body help in their homes.

Lawn/Handyman Care- This goes the same as above but sometime younger professionals need this type of care too. If you don’t mind getting sweaty and fixing and maintenance thing, this may be a good area for you.

Child Care- Thinking babysitting is just for grown ups? Try again. A lot of mothers and non-mothers will often make time available on their weekends to help take care of other people’s children. A lot of people are NOT quite in need of a nanny but would like to have someone available more than once a month to watch their children.

House Keeping- A lot of people can make extra money cleaning houses once a week for a friend neighbor or stranger. Most gigs pay between $35 and $75, depending on size of house, location, and animals. But if you can find one person you do cleaning for weekly or two you do it for every two weeks, think about the extra cash you could have!

Pet Sitting/Walking- This is a growing area, especially if you work from home or non 8 am to 5 pm hours. People especially in cities where housing is tight and compact are willing to pay decent wages for their pooch to get some daily exercise and playtime! If you love animals this is for you!

Serving/Bartender- Local restaurants and food delivery places are in high demand on the weekends and night shifts, see if you can pick up a few to make some extra dough, no pun intended!

Online Blogging/Writing/Surveys- Are you an online surfer. Do you like to take part in social media, survey and/or reviews, then get paid to do it. Companies need “testimonials” and new content all the time for their blogs and websites. Look to the web to find part-time writing jobs for some easy cash.

One-time event promotions and labor- Events are happening all around us and a lot of these traveling events hire in their local area for help with promotion and/or labor. Look to see what events (large and small) are coming to your area to see if they are hiring some temporary help!

Computer Set-up and IT support- There are a lot of baby boomers out there that need help with their PC and using the internet. things that may seem basic to you are services older Americans may be willing to pay you to help them learn or set-up. Post an ad or answer some local Craigslist posting to see if you can do what they need!

Not up for manual labor try these tips
Sell extra stuff online on Craigslist, Ebay, etc.
Sell arts and crafts on Etsy, Ebay, Craigslist
Have a Garage Sale

Tags : extra cash, fun jobs, need money, part-time jobs, personal finance, supplement income, temp, temporary help

Need money before payday

Filed Under : Uncategorized by admin

May.18,2010

Most Americans live paycheck-to-paycheck. I know I do. And when living this way it is virtually impossible to save for emergencies or other important bills and items. While some Americans use a credit card in the case of an emergency, this obviously is not the preferred method of saving for an emergency, but it has come to be one of the only ways Americans have been able to deal with financial emergencies. However, there is a large majority that either cannot be approved or choose to not retain a credit card. So what happens to them in time of emergencies without a savings or credit card to save them. Most of these people turn to payday advances.

A payday advance or loan, is basically an advance on your salary before your next payday. Convenient yes but they can be costly. Payday advances are relatively simple to be approved for. The items required are to be currently employed and making over $800 a month. You must be over 18 years of age and a U.S. citizen. You must have an active and open checking account. And most lenders don’t require it but here are some good insider tips on being approved for an online payday advance

Tags : cash advance, cash before payday, online loan, payday advance, payday loan

Tips to be instantly approved online for a personal loan

Filed Under : Uncategorized by admin

May.11,2010

If you have applied for a payday advance recently and been denied, there could be several reasons impacting your chance of approval.

First off, if you have multiple or even one payday loan open, at the time you apply, you will first want to pay that one off before most lenders will extend you another one. Regardless of what you may hear, payday lender do keep track of open payday loans through companies like Teletrack or CL Verify

Second make sure the money you are requesting isn’t more than half of what you make in a payment cycle. So if you get paid $1,ooo every two-weeks you most likely won’t be approved for any amounts over $500.

Three apply early in the day. A ,ot of payday advance sites are lead aggregators, meaning they are only there to collect your info and get you to the place you need to be. They never charge you for their service but do charge the company a commission or lead generating fee. Why this relates to the payday advance customer is because, payday lenders have a pre-determined cap of what they are going to lend that day. The earlier you apply EQUALS a better chance at approval.

For more tips on how to get approved for a payday advance

Tags : emergency loan, payday advance, payday advances, payday loan, payday loans, personal finance, personal loan, Personal Loans, tips on getting loan approval

The English Language and Financial Literacy in America

Filed Under : Uncategorized by admin

May.5,2010

Have you ever read any of your credit card terms and agreements? Or if you have ever taken out a loan on a car or house you can understand how hard those documents are to read and understand. Now imagine you are an immigrant coming to America, you finally become a citizen and want to open your first line of credit. Now imagine trying to read that contract in English if it wasn’t you first language.. Exactly the same feeling you had but worse. Financial literacy in this country is low enough that you don’t need to add confusion due to translation into the equation.

Thanks to the new Obama-Approved Credit Card Reform Act of 2009, English as a second language (ESL) English Language Learners (ELL) as well as other English-Speaking Americans will hopefully begin to understand the terms of any financial contractual obligation a little more in-depth. However, one critical element that is missing is the mandate to offer that loan document, terms and conditions in the “loane’s” or customer’s native language. While this seems like a lot of work for any company large corporations should have the availability of resources to easily translate all of their contracts to any language. This would not only be a customer service/loyalty incentive, it would also help people better understand their contractual financial obligations and hopefully participate more in the traditional American Banking System.

Tags : banks, cash advance, financial literacy, hispanic, immigration Arizona, loan, payday advances, payday loans, personal finance

Find faster means to get out loans

Filed Under : Personal Loans by admin

Apr.18,2010

Having troubles with money is very stressful and unpleasant. You can be worried about the problem and this prevents you from being productive and looking for good solutions out of the financial pit. It is good news to learn that unsecured loans are available from various lenders and they do not require putting any collateral against the loan. This means you don’t have to put up property or valuables against the money you borrow. The basis of the loan is the idea of your good name and impeccable reputation. For this type of loan your financial background will be checked and depending on the state of your credit history you will be either granted a loan or not. This also determines the size of the loan. You are free to use the money any way you find fit and you don’t have to report what you have invested it into. A signature loan is a good chance to fix money matters quickly.

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Tags : payday advance, unsecured loan

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