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Category Archives: Finance

Guideline In Buying a Mattress

You spend most of your time in your bed. That is why you have to make sure that you feel comfortable with it. Here are some tips that can help you in choosing the best one. Buying a new mattress can be very overwhelming. Aside from the fact that there are lots of models to choose from, you have to make sure that it can make you feel comfortable. Remember that each individual has his own preference.

Furthermore, you also need to consider the cost. Mattresses can be very costly. You have to spend thousands of dollars for it.  Keep in mind, that what you pay is what you get.

You want a mattress that can last for years. It has to be durable and created from high-quality materials since you will be using it every day for sleeping.  Obviously, a mattress that costs below $1,000 may not last for years since it is not made of good materials. That is why its best to do some negotiation first. If possible, ask for a discount. Maybe you can request for some extra items such as pillows, a bed frame or even bed sheets.

When shopping for mattresses, the first thing that you need to check is the support. There are four types that you can choose from. These mattresses can be filled with air, latex, innerspring, or foam. If you want a bouncy mattress then go for innerspring. You can also check how bouncy they are. Typically, metal coils are gauged between 12 and 18. 12 is the thickest while 18 is the thinnest. Mattresses with thicker gauge are ideal for heavy people since it can offer them more support. Innerspring mattresses are filled with fiber or foam. The outer part has a quilted covering.

If you would like a mattress which is much firmer then choose memory foam mattresses. It has lesser spring. It will not sink even if you sit on it. However, it’s best to check its specs in order to determine its quality. Its thickness is between 2 and 6 inches. The ideal foam density is 5 pounds per cubic foot.

For more buoyancy, choose latex mattresses. When it comes to firmness, it is much the same with memory foam mattresses. The only difference is that it has more spring-back. Some latex mattresses are natural while others are synthetic. Natural latex is great since it can resist mold and dust mites. Also, it can last for a number of years. This is the reason why it is a bit expensive. There are two kinds of a latex mattress. Dunlop latex is heavier and more solid than Talalay latex.

You can also customize your mattress according to your needs. You can have an air-filled mattress that has a remote for controlling the air inside the mattress. The chambers can be in latex or vinyl. Most models have two side-by-side chambers. This is ideal for customizing the air separately.  The top surface is made of foam or quilted fiberfill. For more choices, just go to sams club.

Hit a Good Credit Rating

Pay the minimum monthly due on your credit cards.

Credit cards are designed for emergency uses, but most of us may have been practicing improper use of such financial tools for luxury and other unnecessary things. Whatever the reason of credit card usage, you should strive to pay the monthly minimum dues to avoid negative impacts on your credit score. If in some instances, you can afford to pay in excess of the monthly dues, it will also help establish your reputation as a good creditor.

Do not open up credit cards too frequent.

Credit rating companies do not only give ratings without analyzing your credit history. Thus, how often you obtain credit cards will also affect your credit rating. It does speak of how you manage your finances. If possible, maintain at least one or two credit cards only.

Lessen your debts.

Proper financial management on your part can help you lessen your debts. In turn, this will help you obtain a better credit rating. Start by paying off debts that have higher interest rates while not forgetting to pay at least the minimum dues on your other debts. In no time, you will see how much you’ve financially breathed and how much of your credit rating is repaired.

Hard Money Loans

There are several sorts of property that you can bring into play when the hard money financing is concerned. Those properties include commercial property, multifamily residential property, or single family residences. Generally, the lenders of this particular category consider this kind of lending as the form of investments for their future specialization in that particular property. You need to keep in mind that the lenders do not have any interest in the property you are going to purchase with the money. Instead, they will be eager to see what you are keeping as

Suppose you own multiple properties and some of them are on the verge of a sale but suddenly you get an amazing offer of purchasing a new property. You cannot help leaving the property because already all your money is stuck somewhere else. Then the importance of hard money funding arises. You can avail a loan and acquire the property and after the pending sales are done you can quickly pay the loan back.
Without the above, you can take the loan to renovate your existing property to make it more attractive. If you are quite certain that after the property gets sold, you will get a handsome amount or the renovation can play the role of the catalyst in the process, availing the loan is not a bad thing to do.

There ample of advantages which can make you feel like the king. Though there are some disadvantages as well, but overall, you can find the loan program as a reliable source of funding when you want the money badly.

1. Urgency:

This is the most significant benefit what the loan can provide. If you want the money in a week or an instance like that, you certainly will not get it from anywhere else. The hard money funding can make you avail with the money without taking the countless time.

2. Lack of Criteria:

The most relaxing part of this loan is the lack of criteria it has. If you want another loan service, it will give you a list of things which is needed for the success of the loan but hard money will need just the real estate property to give you the money.
These are the entire story behind the hard money financing. You just need to check what the real requirements that you have. If you find the requirement urgent and own a real estate property, don’t hesitate to get the loan.

Must Pick Credit Unions

Easier to borrow

There is no need to await your loan status on tenterhooks since lending decisions are normally made locally, which means quicker turn-around time and more flexibility than loans with large corporations. Some can also offer signature loans to members who have good credit and standing.

Lower loan rates

More often than not; these lending institutions can offer their customers lower loan rates. Last year, the National Credit Union Administration released information that confirmed that the average rate on a 36-month loan was about 2.85 percent. Compare that rate to an average 5.59 percent at banks, which is nearly twice the amount.

Run by customers

You can have confidence doing business with your credit union. Why, you ask? Because each member is also a partial owner, meaning they also have a stake in the success of the union. It is also managed and staffed by its customers on a volunteer basis. As a member, you even have the option to run for a seat on your union’s board of directors, which is not feasible at a bank.

Destroy Your Credit

Ignore your debt – Not sure how much you owe on all your credit cards? How many cash advance online loans have you used in the last year? Did you push your student loans into forbearance for another year? You can live to ignore your debt, but eventually it is going to show its face to you. It won’t be pretty. Credit limits will be gone. Interest rates will soar. Student loans will grow bigger each day with added interest. How long can you not pay off your cash advance before it eats up every paycheck? Pretty soon, even a direct lender would not service your need for cash. Then what?

Home Equity Spent – You took a loan out against your home. Your child had a marvelous wedding or to pay for college. The added bill payment each month has become a struggle with everything else under your income umbrella. You know that your house is at risk if you don’t pay this bill, right?

Borrow from Retirement – The money came in handy. Hopefully it was used for something necessary like property taxes or to pay bills between jobs. Early withdrawals could hit you with increased tax liabilities. How are you going to pay for that?

Student Loans – Can you afford to take out a PLUS loan for your child’s education? Will you still be able to put funds into your retirement account? You are responsible for this payment now. No one wants to see their child drowning in debt, but you don’t have to kill your finances either. Let them take out the loans and then help them with the payments without hurting your own finances… unless of course you do want your money problems to compound.

Delay Delay Delay – This plan of action works best as a soccer defenseman; with your finances, not so much. Haven’t started a savings account yet? Never even thought about retirement? The more time it takes to begin, the less time your money will have to work for you in your favor.

Debt Consolidation

Consolidation combines all or some of your debts, such as credit card debts, into a single bill with one easily manageable monthly payment. Rather than paying multiple creditors each month, you would make a single payment to the consolidation company who would then distribute it to your various creditors. The consolidation company may be able to negotiate with your creditors to reduce monthly balance, eliminate late fees, lessen monthly payments, and reduce time frame in which the debt will be repaid. These changes could possibly save you money over the long term.

It is advisable to determine how much you owe prior to applying for consolidation. The first step is to list all of your creditors and how much you owe each one. Also include the monthly payment due for each creditor. This process of evaluating your debts may help you to determine how much you owe in total and what you can afford for a loan payment if you do consolidate.

Consolidation is one option to eliminate or reduce your debts. Consolidating your debts into a single monthly payment may enable you to manage your debts more effectively by allowing you to concentrate on this single payment rather than several every month. Additionally, it is much easier to maintain one payment than several payments all with different due dates. This may reduce missed or late payments, which in turn could improve your credit score over time.

Debt may be consolidated either with or without a consolidation loan. Many companies that specialize in consolidation may offer packages to manage your debts without requiring you to take out a loan. They will make arrangements with your creditors to have your interest rates lowered and manage your payments for you. These companies generally charge a fee for their services.

Secure consolidation loans are another option to help manage your debts. If you are a home owner you may also wish to consider an equity loan. Equity loans use the appraised value of your home and other capital to obtain the financing you require.

Borrowers are advised to research consolidation companies carefully. While there are many reputable consolidation companies available, there are also some that are less reputable. Be wary of any companies that make too many promises that do not seem realistic. One way to ensure that you are about to deal with a reputable company is to contact the Better Business Bureau. If there have been complaints issued against the company you are considering, you will be able to obtain that information there. You may also be able to determine how many complaints were issued against them and why.

Identity Theft Protection

Identity theft has become one of the most widespread crimes in the United States. Hackers are becoming more capable than ever to tap into highly secured information. Sometimes they only have access to credit card numbers. The assailants can use these stolen credit card numbers to buy items fraudulently. In situations where all information is available, the crimes can range from opening new credit accounts, draining bank accounts of all funds to filing fraudulent tax returns. All of these activities can affect the victim’s credit and put the victim in a compromising position without access to money for bills or even not able to apply for credit for their own benefit.

It seems identity thieves are always one step ahead of the latest internet security programs and unable to solve the most complex of encryption. However, since this crime these types of crimes are happening more often and to larger databases, most financial institutions have systems in place to protect the customers. Constantly upgrading and improving the security on their systems is one of them. Large companies used keep quiet about something within their operations failed. Now, threats are so prevalent that these large institutions make announcements and take preventive measures for their customers when they find out that their databases were compromised. They may also monitor accounts for suspicious transactions, issue new credit cards, start a new account for you, among other things. Some institutions will offer complimentary identity theft protection for a limited amount of time.

Identity theft protection is like insurance for your identity. If someone falls victim to this sort of crime, having protection in place can give them peace of mind. These services can offer benefit such as reimbursement of stolen funds, monthly credit score monitoring, spyware/malware protection while you’re shopping or paying bills on the internet, legal coverage, use of a credit restoration specialists, generating suspicious activity reports and much more. Identity theft protection may have seemed frivolous twenty years ago, not now. Living in the information age, it is important to protect the most valuable information you possess, your identity. Crimes continue to evolve just as technology does. Having identity theft protection has become just as important as car insurance and homeowner’s insurance. Every protection plan is not made equal but having some coverage is not having any.

Financial House Cleaning

Whether it be daily, weekly, or at the very least monthly! Because between you and me, bottom line, it’s not getting done very well now! So it’s very practical, yes, even logical, to spend a few bucks to enlist the help of a professional to help tidy up a few things around the house on a regular basis. Just think, with that small monthly, reasonable expenditure taken care of, I can now add more or less to my daily “to do list” of activities. My quality of life could dramatically improve, less stress, guilt, back pain, etc… This makes perfect sense doesn’t it? But do I really want someone seeing my underwear on the floor! I can get over that, for some peace of mind! But can I afford it? I can probably make some adjustments here and there but where?

Right then, I came to the realization that not only did my house need some upkeep, but my financial house needed some foundation work as well! There were a few cracks that needed to be fixed. And we all know that a solid financial foundation must be in place in order to build a strong financial house on it. Now I find myself back to square one, who has time for finances! I would rather do housework for crying out loud! At least I can see the results of my hard work! Money just seems to disappear like my socks in the dryer! I need a vacation just thinking about all this!

You had to mention vacation didn’t you. Isn’t it funny how we spend hours, even in some cases days, weeks, months planning our much needed vacation. Yet, that one or two week time frame is just a millisecond in the grand spectrum of our entire lives. We all need to put more planning effort in our financial house, so we can take that permanent vacation (retirement)

It doesn’t matter how much dirty laundry we piled up, or how much we make now, or how much or little we have set aside for our future, the time to start planning is not tomorrow, but now. So how do you get started, how can this be accomplished?.

One way to start this financial house cleaning search is to obtain a “financial needs analysis,” this is the first step in the process of putting together a personal financial house cleaning strategy. Like a good house cleaning, we all could use a little help cleaning our financial house as well and it does not cost anything to have your house inspected and recommendations made.

Right then a horn blast woke me out of the temporary nirvana of house cleaning bliss, the light had changed and it was back to reality, back to the hustle and bustle, but I did manage to catch up to the car with the house cleaning placard, and jotted down their number. It’s also time to find the number of a good financial house cleaner as well.

Power of Time Make Rich

Take a moment to think about what is most important to you.

Now, what small actions have you taken that kept you from achieving these goals?

What different small actions could you have taken that would have helped you achieve your dreams?

It is those positive small actions that will get you towards those financial goals.

And the power of time.

The way you improve your fortunes is to take small positive steps. Just save a bit more every month. Nothing drastic. Just a little bit more than you’ve been doing.

The same goes for debt. Just pay a little bit more every month.

That little bit extra for one month doesn’t make a huge difference. But over 12 months you’ll notice a massive improvement with your finances.

You see, saving a bit extra every month means there is a little bit of extra money that can be invested to work for you. It is the power of compounding. Every little bit extra that is saved can earn a bit more money. This will magnify over time and work in your favour.

Debt works the same way. Paying a little bit more means the next month you pay less in interest, allowing your next month’s payment to pay more off the debt. These payments compound to help you pay off your debts much faster.

Time is now working for you rather than against you.

Look, I know I am probably not telling you anything you don’t already know about money. I’m sure if you could pay more off your debts or save a bit more you would be doing it.

I get it.

But I wanted to remind you that this doesn’t have to be complicated and that there is not one magical step that will get you where you want to be financially. It will take many small steps.

Now, to give you a boost and to help you change your habits, I want to make you aware of the opportunity to use money you already earn towards these goals.

You see, everyone one, myself included, spends money on a whim that could be used to improve our overall finances.

I call this The Financial Black Hole.

It is the money that is spent, usually based on an emotional decision that makes very little impact on your life.

In fact, you will likely completely forget what you spent your money on within 24 hours.

Now, it is impossible to destroy The Financial Black Hole completely, but it is very possible to shrink it down dramatically.

It just takes learning to control those small negative spending decisions. The method that works best for me and those I help with cash flow planning is a Weekly Spending Allowance. Naturally, by cutting out those negative spending decisions you now have extra money that can go towards saving for retirement, vacations, a car, starting a business or any other dream you have.

It can also go to eliminating your debt faster.

With the power of time and controlling your Financial Black Hole, you’ll have more money than you ever thought was possible.

It just takes small steps. And time.

David Field is a financial advisor and a Cash Flow expert in Oakville, Ontario with expertise helping professionals and families better utilize the money they earn to fuel their goals.

Pick Credit Counselor

1. Moving too fast. If you approach a credit counselor and that counselor doesn’t take time to analyze your unique debt, budget, and income properly be very wary. You really should move on to the next company if an organization is in a hurry to put you into a debt management plan right away.

2. Read the contract. The organization that you choose as your debt solutions provider should practice full disclosure and their contract should be completely transparent so that you can comprehend all fees associated with the process. When you go through the contract it should disclose all fees involved with the debt management plan including enrollment fees, monthly fees and extra fees associate per account. All these fees can definitely add up, and could possibly increase your debt.3

3. Make sure that your creditors will work with your credit counselor. There are some creditors that will not work with credit counseling organizations, and visa versa, there are some credit counseling organizations that will not work with certain creditors. Ensure that credit counseling is a viable debt solution for your different debts.

4. Understand thatcounseling is not free. Even though most counseling agencies are non-profit, and associated with religious organizations be prepared for-at least-a monthly fee associated with your debt management plan. It’s true that the education and counseling you will receive during the process may be free; there is normally a fee associate with enrolling in a debt management plan. Depending on where you are located, and some other variables your monthly, “suggested donation” should be between $50-$75. There may be other fees associated with the program so make sure that the credit counselor discloses any sign up fee or other costs before you sign up to a DMP (debt management plan).