Useful Tips on SavingWritten by John Mussi
Here are some useful tips on saving. Start by saving small amounts here and there. Over time, you will notice how even a small amount saved can add up to big money. If you are willing to watch what you spend and look for little ways to save on a regular basis, you can make money grow. If you buy on impulse, make a rule that you'll always wait 24 hours to buy anything. You may lose your desire to buy it after a day. Try emptying your pockets and wallet of spare change at end of each day. You'll be surprised how quickly those pennies add up! Speaking of things adding up, there is no investment strategy anywhere that pays off as well as, or with less risk than, merely paying off all high interest debt you may have. Many people have wallets filled with credit cards, some of which they've “maxed out” (meaning they've spent up to their credit limit). Credit cards can make it seem easy to buy expensive things when you don't have cash in your pocket—or in bank. But credit cards aren't free money. Most credit cards charge high interest rates if you don't pay off your balance in full each month. If you owe money on your credit cards, wisest thing you can do is pay off balance in full as quickly as possible. Once you've paid off your credit cards, you can budget your money and begin to save and invest.
| | What to Consider Before Applying For a LoanWritten by John Mussi
Here are some useful tips on what to consider before applying for a loan. If you need money to pay bills or make home improvements, and think answer is in refinancing, a second mortgage, or a home equity loan, consider your options carefully. If you can't make required payments, you could lose your home as well as equity you've built up. That's why it's important not to let anyone talk you into using your home to borrow money you may not be able to afford to pay back. Contact several lenders - including banks, savings and loans and mortgage companies. Ask each lender about best loan you would qualify for then compare following: The annual percentage rate (APR): The APR is single most important thing to compare when you shop for a loan. It takes into account not only interest rate, mortgage broker fees, and certain other credit charges lender requires borrower to pay, expressed as a yearly rate. The term of loan: How many years will you make payments on loan? If you're getting a home equity loan that consolidates credit card debt and other shorter-term loans, remember that new loan may require you to make payments for a longer time.
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