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Home > > 2.9% fixed apr advanta

2.9% fixed apr advanta

In this article we're going to discuss money management and how it applies to paying bills.A lot of people might think that money management 2.

9% fixed apr advanta and paying bills is a contradiction in terms, and in a sense it is. The truth is, if you have a bill that has 2.9% fixed apr advanta to be paid then it has to be paid, money or not.However, having said that, there are things you can do with managing your money to give yourself the best chance of paying those bills. It just takes a little bit of thought and a lot of discipline.To start with, if you have a steady job that is half the battle right there2.9% fixed apr advanta . Good salary or bad, at least you know each month what you're going to be bringing home. From there it's simply a matter of making a list of your constant expenses such as rent or mortgage. Those are the things that don't change from month to month, at least until your lease expires and the landlord raises your rent or there's not enough escrow to cover your taxes and your fixed rate mortgage suddenly goes up a hundred bucks a month.The best way to illustrate how to do this is with a fictional example.Let's say your monthly salary is $3000 after taxes. That's what you bring home. That's what you have to spend. A certain portion of that goes for what we call fixed expenses. Those are things that you have no choice but to pay for each month.To simplify this, let's say these are the items that you must pay each month.Rent - $700 Telephone - $50 Gas and Electric - $100 Insurance Payments - $200That gives us a fixed expense of $1050.Then we have what we call semi fixed expenses. These are items that we have to pay each month but what we pay is really within our control to some extent.These include...Gas For Car - $80 Groceries - $320 Total semi fixed expense of $400 a month.So now are expenses are up to $1450 a month that we pretty much can't get away from.Then we have our variable expenses. These are mostly the things that we really don't need but want, like entertainment and this covers everything from buying CDs and comics to your cable TV and magazine subscriptions.This is where real money management comes in. See, this is where you have to look at how much you have left, determine what you want to save from that each month (you do want to save right)? and what's left is what you have for your fun and games. Now, if you have a lot of money left over, like in this case, then most likely you don't have to think about your little pleasures. But let's say all you have left over after your regular expenses fixed 2.9% apr advanta is $200 for the whole month. That comes out to about $15 a day.Guess what? That's how you manage your money. You take $15 out of your drawer every day and put it in your wallet or purse. You have that much money to spend on day one 2.9% fixed apr advanta of the month. Don't spend any of it? Then the next day you'll have $30 to spend when you add your next $15. If you do this each day you will find that when the month ends there will be no way that you will have spent more than you have.Naturally things happen. Repairs and unexpected items pop up. But by keeping a tight lid on things and not going out and blowing $150 on a dinner for two at the most expensive restaurant in town (as nice as that sounds) you give yourself the best chance of getting through your month and actually putting away a few bucks in the bank.See, you really can manage your money and pay the bills at the same time.2

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DID YOU KNOW?

What is a Personal Secured Loan?

A personal secured loan is a non-business loan secured with some type of collateral. Personal secured loans are secured using the assets of the borrower. The lender has the right to sell the borrower's collateral in the event that the loan is not satisfactorily repaid. Typically, the borrower's collateral must be something of high value, allowing the lender to feel comfortable in granting the loan because of the collateralized property's resale value.

Personal secured loans in the UK are often referred to as homeowner loans. This is because the collateral used to secure the loan is the borrower's equity in his or her home. However, some lenders are willing to accept other things as collateral instead of home equity.

People obtain personal secured loans for a variety of reasons. Some choose to use the money to make home improvements, while others choose to pay off debts. Still others use loan funds for education, buying a new automobile, or even taking a vacation. When you obtain a personal secured loan, you may use the money in any way you choose.

Personal secured loans offer many benefits over their unsecured counterparts. For example, interest rates on personal secured loans are often lower than those for unsecured loans. With high-value collateral providing a guarantee of repayment, many lenders feel free to allow for lower interest rates. Personal secured loans frequently have better repayment terms as well. Furthermore, even those with damaged credit can obtain the loan money they need with sufficient collateral.

Shopping for a Secured Personal Loan

The Internet is a truly amazing tool. With just a few clicks of a mouse, you can have a wealth of information at your fingertips. Why not use this readily available knowledge base to assist you in your search for secured personal loans?

Just surf your way over to any search engine, type in the words "secured personal loan" and you are sure to finding a plethora of online lenders. Take the first 10 listings presented by the search engine and browse the lender websites. Many lenders post useful information about personal loans, from such topics as requirements and eligibility to the application process and repayment options. Read as much as you can about obtaining a loan. Information is power and when you know what to expect, you are able to take the right steps to obtain the right loan deal.

Often, you can obtain loan quotes by filling in a simple, user-friendly online form. Most online lenders, however, have telephone numbers posted on their websites, allowing you to speak to a loan officer or customer service representative, if you have questions or concerns. Some online lenders even provide handy loan calculators for you to use when estimating the amount of loan you can afford or your monthly payment amount. Keep in mind, that loan calculators only serve to estimate loan amounts and do not provide actual loan quotes.

Use the Internet to obtain loan quotes and compare them to determine the loan that will offer you the best interest rate and loan terms. After you've selected the right loan for your particular needs, go ahead and submit an online application. What could be easier than searching and applying for a secured personal loan, right from the comfort of your own home?

College is the last care free step before real life begins, or at least it should be. Students should be able to go to sleep each night with the only pressing responsibility being the English exam tomorrow morning. They should still get to live in a world where although they can’t afford much more than the occasional late night drive through Taco Bell or downloading the latest hit single, at least they aren’t worrying yet about paying a mortgage, most forms of insurance, utility bills, or the college loan that is allowing them to get an education.

Unfortunately, for many college students this is not the case. Many are already burdened with financial pressure because they are accruing credit card debt, in some cases over $7,000 worth of it. Increasingly, students are even coming to campus with credit card debt in hand. Consolidated Credit Counseling Services Inc. reports that 20% of freshman got their credit card in high school and nearly 40% sign up for one in their first year at college. With the abundance of on-campus, mail and Internet card offers giving low introductory rates, freebies, and bonus airline miles, it’s not surprising to find that according to a 2001 Nellie Mae study 83% of all undergraduate students have at least one credit card and carry an average balance of $2,327.

The problem of high credit card debt has many implications for a student. Some end up dropping out of college all together so they can work full-time just to pay credit card bills. If they are able to stay in school, but have in the process ruined their credit rating, it can affect their ability to rent an apartment, afford insurance and even get the job that will help them to pay off their debt. Even relationships suffer as a result of financial stress. There is also a psychological affect on students. The stress can lead students into depression, and in a few cases has been a contributing factor to suicide.

Of course it hasn’t always been like this. According to Dr. Robert D. Manning, Professor at Rochester Institute of Technology and author of Credit Card Nation, in the late 1980s student credit card limits were around $300-$500 and parents were required to co-sign. But when credit card companies began making a lot of money during the 1991 economic recession, they started looking for new markets and found it in the student population. Issuers dropped the co-signing requirement and started raising limits, which, when combined with parents’ increasing financial pressures and higher costs of education, gave students a way to fund themselves through college.

And students are an easy market to tap into. In his article “Credit Cards on Campus,” Manning writes, “Credit card companies encourage fantasies of easy money because students are so profitable: teens have financial naiveté, high material expectations, and responsiveness to relatively low-cost marketing campaigns, high potential earnings, and future demand for financial services.”

Credit companies advertising to the vulnerabilities of young students is not the only factor that goes into the current trend. Most students simply have not received the education in personal finances and credit card management that they need to meet the onslaught of offers. According to Consolidated Credit Counseling Services, Inc only 15% of high school students take a personal finance class. And, according to the Jump$tart Coalition for Personal Financial Literacy, a non-profit organization which promotes financial literacy at the K-12 level, parents for a variety of reasons are not talking to their children about the privilege and responsibility that goes along with using a credit card.

Dr. Carol Carolan, Executive Director and Founder of the Center for Student Credit Card Education, says that the single best thing parents can do to help their children avoid the pitfalls of credit card debt is educate them. Parents need to talk to their children about it early on and regularly. Dr. Carolan suggests the following tips for parents.

  • When a child has reached an appropriate level of maturity and understanding of personal finances, co-signing a credit card can be very beneficial.
  • Get a credit card with a low limit and no annual fees (visit the "Card Reports" section of our website to comparison shop for student credit cards).
  • Discuss with your child the details of the credit card including interest rate on purchases and cash advances. Review all the expenses every month.
  • Show your child what finance charges might apply if the balance is not paid in full and on time. This includes any interest, fees, and penalties.
  • Be a good role model.
  • Experts don’t all agree on the appropriate age for a first credit card. Dr. Manning, for instance, argues in his article Credit Cards on Campus that having them at an earlier age may actually result in fewer debt problems later on.” Other experts argue that waiting until the junior or senior year in college is best. The bottom line parents need to realize is that once students reach the college campus, they will be inundated with credit card offers and will be able to get a card regardless if they are supported financially solely by their parents.

    And talking with students involves more than mere calculations of fees, interest rates, and balances. Students need to understand the messages they receive through advertising, the difference between a want and a need, as well as the lure of money. Give students a healthy, realistic perspective of money and material possessions and they will be better equipped to make wise decisions.

    Universities and colleges play a huge role in the current trend of high student credit card debt. Some invite credit card issuers onto campus because they receive revenue as well. But others are starting to recognize the problem and are restricting the activities of credit card companies on campuses. Manning states in his book Credit Card Nation, that “During the academic year 1999-2000, over 400 colleges and universities formulated official policies against on-campus credit card marketing and nearly 600 other schools are considering similar restrictions.”

    Some institutions like Rochester Institute of Technology (RIT) and the University of Central (UCA) Arkansas are even beginning to require classes in personal and consumer finances. Mary Ann Campbell, CFP, professor of personal finance at UCA and professional speaker with Money Magic, Inc., has a mission to educate students, educators, and adults about money. She is currently working on her dissertation about college students and credit card debt. Campbell is researching the best methods of reaching college students through a high impact presentation warning them of the perils and privileges of plastic. Like other experts, Campbell is not against students having credit cards. In fact, she says it is easier to get one as a student and can help them build the good credit history needed after graduation. But students do need to be educated. Campbell gives the following tips and reminders for students.

  • There is true magic to compound interest when it’s working for you (as in an investment or savings account), but true devastation when it’s working against you (as in credit card debt). Even when you buy something on sale, the interest alone can double the price.
  • Account for everything. Keep records of each credit card including the interest rates, fees, balances, due dates and purchases. Campbell suggests a good way to do this is to setup a spreadsheet in Excel. This will also keep you organized so you don’t miss another payment.
  • The only way to get out of debt is to stop charging and always pay more than the minimum. If more than one credit card has an outstanding balance, then begin paying off the one with the highest interest rate first, then go to the next highest interest card, and so on.
  • If in trouble, talk about it with someone you trust and respect. This could be a parent, teacher, or friend. Hiding it doesn’t make it go away.
  • Credit scores can make all the difference in the world for good or bad. It can take many years to recover from a bad credit score.
  • Learning to use credit cards responsibly is a gift. Seek to gain knowledge and wisdom. Credit is a privilege and it is the student’s personal responsibility not to let it become a peril. Campbell says, “The magic comes from you.”
  • While in college, students need to think outside the box, but live financially within the box.
  • Credit cards can be an invaluable tool for a student. While providing security and convenience, if used wisely a student will build the good credit rating that is needed to secure other consumer loans, jobs, and lower insurance rates after graduation. Dwayne Blew, a member of CreditBoards, a forum dedicated to credit issues, is one example of a student who didn’t buy things he didn’t need and paid his credit card balance in full each month during college. Now he is reaping the benefits of a good credit score. Dwayne says, “One of the reasons you’re going to college is to improve your lifestyle once you graduate. After putting so much effort into school, why let something small like a credit card end up ruining it all?”

    Many excellent resources exist to help students both avoid and get out of the credit card debt trap.

  • Comparing credit cards is an important step in finding the best one to suit your needs. CardRatings.com makes this search simple and easy by allowing you to research the best rated student credit cards.
  • Consider utilizing the services of a nonprofit credit counseling service. Be very careful when considering a credit counseling service, though, as many counseling services are scams, including nonprofit services.
  • Consolidated Credit Counseling Services, Inc. has a free, downloadable Budgeting Guide for students.
  • Dr. Carolan has written a booklet titled The ABCs of Credit Card Finance – Essential Facts for Students that can be ordered online and it will be mailed to individuals free of charge.
  • Message boards or forums are a great source of information. You can post questions, concerns, or comments and a real person will respond with real life information. Campbell says they are a gift and can even become a support group. You can join the CardRatings.com Message Board for free.
  • Even if your school doesn’t require a personal finance class, take one if it’s offered.
  • http://www.debtsmart.com/, created by Scott Bilker, author of the best-selling books Talk Your Way Out of Credit Card Debt, Credit Card and Debt Management, and How to be more Credit Card and Debt Smart, contains several tools to help consumers deal with credit card debt.
  • The financial decisions students make in college have a long lasting impact on their future. They are learning how to use and manage various financial tools vital for life in the “real world”. When used wisely, credit cards are one tool that can open the doors for a life unencumbered by financial burdens.










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