Maximise your compound interest, FREE mortgage quote

Written by Luke Goodin


Compound interest isrepparttar very method that finance companies have made their money for many decades. However at last competition from a booming worldwide economy has forcedrepparttar 140288 industry to give consumers a better deal.

Compound interest in a nutshell is basicallyrepparttar 140289 daily calculation of interest that accumulates into thousands of dollars designed to suckrepparttar 140290 consumer dry.

FACT: I used an interest calculator to work out how much interest my best friend Brad would be paying if he continued payingrepparttar 140291 normal repayments on his $280,000 home loan over 30 years.

It worked out he would be paying $412,000 JUST IN INTEREST over 30 years. Now if he put his homebuyers grant (for overseas viewers of this article in Australia first home buyers get a grant fromrepparttar 140292 government of $12,000) straight into his loan it would cut 7 years off his loan. A total saving of just over $150,000 in compound interest just from that small investment of $12,000.

The same applies if you put just $5.00 or $10.00 per week extra into your loan or if you getrepparttar 140293 ultimate deal where you put your whole salary intorepparttar 140294 mortgage loan account and draw onlyrepparttar 140295 funds you need to survive out. These methods blow compound interest away real quick and save you hundreds of thousands of dollars.

New Bankruptcy Law Will Not Protect You from Identity Theft

Written by Charles Essmeier


Recently passed by Congress with overwhelming support,repparttar oddly-named Bankruptcy Abuse Prevention and Consumer Protection Act was designed to eliminate “bankruptcy of convenience.” The perceived problem is that many compulsive gamblers, shoppers and drug users often run up huge debts on easily available credit cards with no intention of paying their bills. A relatively easy bankruptcy filing through Chapter 7 ofrepparttar 140242 Federal bankruptcy code wipes allrepparttar 140243 debts clean and givesrepparttar 140244 debtor a fresh start. Studies would suggest that most people who file for bankruptcy are actually suffering from sudden illness, job loss or some other catastrophic event, butrepparttar 140245 law was passed justrepparttar 140246 same, and debtors will now have to repay at least a portion of their problem debt whenrepparttar 140247 new law takes place in October, 2005.

A provision ofrepparttar 140248 new law that was not well publicized isrepparttar 140249 fact thatrepparttar 140250 law applies to any debt, including debt which has been incurred through theft ofrepparttar 140251 debtor’s identity. If someone steals your credit card, or driver’s license, or both, and runs up a huge amount of debt by posing as you, then you will be held responsible forrepparttar 140252 debt. Identity theft has become an increasingly large problem inrepparttar 140253 last few years, butrepparttar 140254 new legislation should make everyone aware ofrepparttar 140255 problem associated with identity theft. While a determined thief can probably steal anything, a few simple steps can make it harder for someone to steal your identity.:

  • Shred your documents. There are plenty of thieves that will sort through trash, looking for credit card receipts, bills and any document that has your signature. If

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