Predatory lending exists in the mortgage industry. It's typically when a mortgage broker add's on unnecessary fee's to a bad credit application, because he or she knows that the applicant is in a desperate situation.Predatory banking can also exist for those who have ended up in the ChexSystems.ChexSystems is a network of financial institutions (mainly banks) that regularly contribute information about account holders that mishandle their checking or savings accounts. Nearly all banks within the US are a part of... Read More
Sorting out your personal finances can be a tricky and exasperating time. Whether you are looking to obtain money through a loan, protect your finances with life insurance, medical, travel or car insurance, save some money through an individual savings account (ISA), apply for a credit card or a mortgage, change a telephone or fuel utility supplier, or simply decide what the best current account is for your needs, the choices are seemingly endless as well as being extremely complicated.... Read More
Things are so expensive these days. We seem to be hearing, and saying, that a lot lately at the gas pump, in the grocery store and especially when paying bills. But there are simple ways to help save money without making sacrifices in your lifestyle. Small savings can turn into large rewards for little effort.Start with the small things. Eat out less, stay home more often. Invite your friends over for a potluck supper and rent a movie. You are... Read More
For me, the most terrible time of each month is the day our bank statement comes. We commonly call it BSS (Bank Statement Syndrome). I don't know why it is, but I have trouble getting the parsonage checkbook to balance with the monthly bank statement.That ominous document intimidates me every time it arrives. After all, the bank's business is keeping track of accounts. They have hundreds, maybe thousands of accounts and I have just one. On the surface, it seems... Read More
For months, we were trigger-swipe happy, putting our groceries, clothes, holidays and service charges on our credit cards. We wanted mortgages, we took out loans, we watched Property Ladder and What Not To Wear. Whether you were born middle class, had middle class aspirations, you became middle class through your spending. Debt united people around the UK, we sympathised with each other on what we couldn't afford ? but it didn't matter, we still bought it. Soon everybody had a... Read More
The cries are heard from the distance, "I need help with my annuities." Nothing has changed...just a lonely senior who can't trust anybody with her annuity because every time she asks for advice, someone tries to make her invest in a different annuity...Sound familiar? Well you are not alone.Often times when speaking to a senior about their annuities, I ask them their biggest complaint. Time and time again they say that it is hard to find someone who can help... Read More
**If it's Spam, it's a Scam!- If it sounds too good, if it shows up in your bulk folder or your spam folder - don't touch it, just delete it**Check out the charity- You can find some charity info at the BBB site www.give.org** There is no deadline to give- Take you time. Charities don't have deadlines, but scammers do to stay under the radar. Tell them you will think about it. If they use high pressure tactics, they aren't... Read More
1. Lighting & Light Bulbs Install low energy light bulbs in rooms you use regularly ? they last up to 15 times longer than a normal light bulb and provide the same lighting for a quarter of the running cost. Turn off the lights when you leave a room for a long period and don't use several light bulbs where one will do the job. Teach all family members to turn off lights when leaving a room.2. TV,... Read More
I have to admit, I do it too. I complain. Seek better. Complain again. Ridiculous cycle. It's more of a condition really. A humanity disease, I think we are born with it. It is almost as physical and useful as a regular appendage. Don't get me wrong, being dissatisfied with here, has got us all to a lot of great theres. Otherwise America would still be in dreary old England and we wouldn't have the 4th of July.Most progress has... Read More
Has anyone been to the gas pumps lately? Soon $3 a gallon will be the asking price and we'll either have to become cyclists or create some additional income. I plan to do both of course because you can balance thrift and greed pretty well as you ride your bike to work.I only live a few miles from my place of employment so riding my bike there is no big deal. I've already made a few practice runs, time and... Read More
If you have a 401(k) account, it can be very tempting to borrow from your account especially when your balance is very high and a loan could easily pay off existing debt, fund a home purchase, or pay for college tuition. Before you make the decision to borrow money, there are several things you must keep in mind to avoid risking your funds.Borrowing from a 401(k) can seem like a risk free loan, especially since you repay yourself with interest.... Read More
Do you have a 401(k) retirement account? Are you vested yet? Before you move on to your next job, it is critical for you to find out if you are fully vested in your retirement account before you make the move. If you are not, you could lose hundreds if not thousands of dollars in employer contributions.Vesting refers simply to the non-forfeitable percentage of your account's assets. In other words, whatever you contribute to your 401(k) plan is always yours... Read More
If you die without making a Will in the UK, the state will decide who gets what and how much, so those who you would want to benefit may get far less than you hoped.Your estate (your property and all belongings) are frozen and become subject to the law of intestacy. You are said to have died 'intestate', meaning everything you own will be valued, tax paid at 40% if worth more than £275,000 (as at August 2005)... Read More
Six Scholarship judges were sitting around an oval table. Forms were piled into 50 boxes. Each one had the name of a state. I looked at the boxes and wondered why some of them were overflowing and others had just a few. This was the first round of judging. By the time the contest was over almost 16,000 applications would be examined. Some of the comments were really critical, "Why did this person bother to send in an application? It's... Read More
Have you seen the recent article on a new "green" residential high rise in Battery Park? It's called The Solaire. For a look at the hopeful future of architectural efficiency, check out the myriad of cost saving and environmentally-friendly features of the building:http://www.batteryparkcity.org/concept/greenThe article got me thinking of ways to help you personally benefit from being environmentally-friendly, without having to re-locate! I've come up with two areas worth consideration.(1) Tax Credit for the Purchase of a Hybrid VehicleNew owners may... Read More
I've been sharing the following idea with people for a few years now, and realized recently that I had never written specifically about it. So here it is:"I cannot predict the future."That may seem simple enough, and it's certainly accurate, yet for many advisors, this edict is completely disregarded. How many times have you heard someone say, "I know," when what they really meant was, "I guess?" In stating that I cannot predict the future, my intention is not to... Read More
When people speak about the increasing age expectancies, they generally do so with positive connotation. This author agrees-there's nothing wrong with living longer, especially if we can sustain our quality of life at each period throughout our lifespan. The problem, then, is not that we are living longer-it's that we are not planning for it.When our social security system first began making payments in 1940, the average length of collection was 8 years. The present average collection period is 18... Read More
With interest rates being at an all-time low, I can understand the urgency for people wanting to purchase a home. But I caution the first-time home buyer to learn how to budget their money before buying a new home.I happen to live in a state with one of the highest foreclosure rates in the country. I was so shock to learn that many people loose their homes within the first couple of years. I wondered why so soon. Sure the... Read More
So, you've made the decision to apply for a credit card. It's an important step for any consumer. Whether this is your first application in an effort to establish your credit, an addition to your existing credit card portfolio, or a plan to re-establish unsatisfactory credit, it is critical to research and fully understand the plans associated with various types of credit cards.Before beginning the research process, consider and decide how you will use your new credit card. Will you... Read More
With the A-level results coming out, the long wait for UK school leavers hoping to go to university will soon be over. All the hard work that has been put into achieving the grades required will now pay off and the fun and freedom that is student life can begin. This may have been the case in the past, but the notion that university life is socially and financially responsibility free is now lamentably outdated. These days, if you want... Read More
