Financial emergencies have a nasty habit of cropping up just when you least expect them. So, if you are dealing with one right now such as an illness, a trip to the hospital or some form of disability, or any other reason not related to medicine or health, here is a three step guide to assisting the elderly in dealing with fiscal emergencies. Continue reading
A clean credit history guarantees future finance such as loans, should you ever need one. What is more, a bad credit history will definitely be a hindrance or a guarantee for you not getting a loan, or even if you do, you will be expected to pay a high rate of interest – and all because of your bad credit history. So, it is important for everyone to understand the benefits of maintaining a clean credit history. Continue reading
Reasons why people invest in properties
There are basically two reasons why people invest in properties. The first reason is to buy a home or apartment with the intention of living in it. By living in your own apartment, you save on costly rents and at the same time, the value of the property increases as time progresses. On the other hand, there are many people who look at investment in properties, from a commercial angle. Their main objective is to buy properties, give them on rent or resell them at a profit over a period of time and use the profit and original investments for newer and more expensive properties. Continue reading
Understand the financial system
The various problems and challenges associated with bad credit are best understood by people who have faced or are facing such problems. The biggest challenge is not being able to get loans when they are badly needed. The next important problem is not being able to get the best rates, as far as various types of loans are concerned. In fact, in today’s fast changing world many people may find themselves not being able to get the right kind of job because of their bad credit history. Continue reading
What got us into this financial mess?
Whenever we are in a situation of debt, there are a few questions that keep haunting us. First and foremost, we try to find out how we reached this stage. The next important thing is a sense of self-pity and we often blame fate for where we are at the moment. Lastly, the thought that bothers us the most is how to get out of this problem. If we look back at the sequence of events that has led to this situation, it is quite certain that the main reason is our lack of basic common sense and self discipline. We surely must have ignored the basic tenets of financial discipline which our forefathers and even our parents must have taught us. Continue reading
Purchasing property isn’t as easy as it might seem. There are a few things that you have to look into if you are going to find the right one for the right price. So, when you are looking for property for yourself how do you go about this? Here are a few tips for you. Continue reading
If this is the first time you are contemplating buying some property, typically a house, which will be your principal place of residence, you should consider the following tips on purchasing property before you go in and sign the title.
Any unexpected change in your financial position can be quite stressful and needs to be dealt with urgently but with a calm mind if the proper solution is to be found and implemented. This can be achieved only if you have access to information about how to deal with such a situation. Financial emergencies can be brought on by almost anything, a natural calamity, unforeseen medical expenses, loss of employment, or whatever. However, the bills still have to be paid in part or in full. If bills such as, credit card bills, utility bills, rent, mortgages etc are not paid on time it won’t be long before the creditors come calling – adding to the stress. Continue reading
You probably already know what “credit history” is. However, lets give the initiated a concise explanation before we proceed. Every time you fail to make a payment on a credit card, loan or in some cases, fail to pay your bills, your creditor reports the missed payment to the credit bureaus. The credit bureaus calculate your monthly credit score based on these reports from creditors and display it as a three digit number. The lower the number, the worse your score is, meaning that, your creditworthiness is nothing to be proud of and that you cannot be depended on to repay your debts. Who then would want to lend you money? Continue reading
Once you have decided that you want to avail of a loan you should decide how much money you need. You should first try to put in as much money you possibly can to bring down the principle loan amount you will finally avail. You must also try to determine how fast you can repay the loan, the sooner the better for you. Never be tempted to borrow more money than you need because you will only end up paying the lender more interest. Continue reading