Top 10 Tax Tips For The Self-Employed

(Photo credit: patrick h. lauke)

Self-employment is a tough road to go down, but luckily there are a few things that you can benefit from. Self-employed individuals will have a different tax status to those who are employed by someone else. As a result, you are going to want to take a look at your taxes and see what you can do when it comes to making the most out of your situation.

Determine Your Net Income

Your net income is the income that you receive after all of your business expenses have been deducted. This can be done after a year of working to determine what you are most likely to earn.

Keep a Record

Make sure to keep a record of everything that you earn. Knowing how much you earned every week or month will allow you to figure out the proper rate at which you will be taxed.

Calculate Estimated Tax

Try to determine what percentage of your tax you are going to have to pay. Deduct this from your net income and you will have an idea of how much you owe.

Expenses for the Home Office

If you have a home office, then you will be able to make it a tax-deductible business expense. Remember that you are not able to deduct more than your net business profit.

Get an Accountant

Having someone to take a look over all of your expenses is a great thing. On top of this, you can also deduct what you pay from your accountant as a business expense.

Remember to Report

Making over $600 from a client means that you are going to have to report it to the IRS. When this happens, your client is going to give you a 1099-Misc.

Set Up a Separate Account

Get a separate account where you will be able to put all of your estimated taxes in. This is much easier than scraping for the money at the end of the year.

Keep a Track of All Business Expenses

Business expenses can include anything that you use in order to carry out your business. These can include your computer, your desk, your phone and your Internet connection. Make sure to keep a track of everything in this regard.

Remember to Pay Quarterly

You do not pay your taxes on a yearly basis. Instead, you pay every quarter of the year. This means you have to make sure that you have everything organized.

Keep Everything Together

Get files for all of the necessary expenses and tax records that you are going to need. Organizing all of this properly will ensure that you know what is going on when the time comes to pay.

Being self-employed can be difficult for many reasons, but it is always a good idea to keep on top of your tax returns. There are a number of things that you can also do for tax relief, so make sure to take advantage of them if you can. This way, you can ensure that you make the most out of being self-employed.

If you are interested in more tax relief tips, the author recommends you visit OptimaTaxRelief.com

Energy Efficiency: Understanding How a Window Upgrade Can Save You Money

You know winter is arriving when the temperatures begin to get frigid. When the temperatures begin to drop, many homeowners will begin to turn their heating systems on and the colder it gets, the harder the system needs to work which increases energy bills. The good news is, by utilizing replacement windows; you can significantly decrease energy use as well as the cost of home heating.

Energy Saving

 
Energy efficient windows help to make your household more comfortable as compared to older drafty windows. This means you are able to not only live comfortably, but save on your electricity and gas as well. There are several ways that efficient windows work in saving energy. Your windows make up a central part of your household's architecture and it can be really simple to go about your daily activities without giving them a second thought. As the energy costs climb, however, the time is now that you want to pay more attention to them and seriously consider an upgrade to more energy efficient windows. In both function and construction, windows like these are different than regular windows and will help you to save a bundle on both your heating and cooling expenses. Below will help you understand how energy efficient windows work to save you on energy costs.

Hurricane Resistant

Upgrading to hurricane rated windows involves several steps. First, assess your current windows for compatibility and evaluate which buildings codes apply based on your location. Next, choose windows that are specifically rated for hurricane resistance, ensuring they meet standards such as those set by the American Society for Testing and Materials (ASTM) or undergo tests for impact resistance. Installation is critical; it often requires professional help to ensure proper sealing and structural integrity. Always check local regulations and possibly seek permits before starting the project.

Window Frames

 
The frame of a window can be made from fiberglass, wood, vinyl, composite, aluminum or another metal. Even though they all have their own particular advantages and disadvantages, it is recommended that you go with vinyl, composite or fiberglass to get the most benefit. Aluminum is heated easily and therefore does not make a great insulator. Due to contraction and expansion, efficiency problems exist with wood frames, so vinyl-clad or fiberglass is a good choice. However, if you decide on vinyl, depending on your house requirements and climate, it is best if you go with the insulated version for the best thermal insulation.

Window Glazing & Insulated

 
There are many different options when it comes to selecting your window glass, such as heat-absorbing tints, gas fills, double or triple glazed insulated, spectral selective coatings and reflective coatings. Double or triple glazed as well as storm windows allow air and space between panes. This will lower the U-factor and the SHGC or solar heat gain coefficient.

Gas fills

 
Argon is the most common gas used and is fairly inexpensive. Krypton, although more expensive, is also a common gas used and works better at decreasing the U-factor of a window.

Heat-absorbing tints

Tints come in different colors like green, blue, bronze, gray or black. Tint does not lower the U-factor of a window, but you can add spectral sensitive coatings and inner glass layers to help with that. Bronze and gray help to reduce light and heat while green and blue allow for more VT or visible transmittance, but with only a slight reduction in heat transfer.

You can save money each month with energy efficient windows. In some cases, newer windows have helped people to become net energy gainers. Typically, energy efficient windows will have a payback period of around 2 to 10 years. In new installation, their initial cost is higher but can be offset by giving you the ability to get a less expensive and smaller heating and cooling unit. More durable, energy efficient windows will end up costing less in the long run due to lowered replacement and maintenance costs. Plus, you will be more comfortable all around and a fully insulated home. Places like Central Scotland Joinery can help you select the best option of energy efficient windows for your home and install them for you too.

How Does a Novated Lease Work?

A novated lease is a type of car lease that an employer gets on behalf of the employee. The employee, in turn, pays for this lease with their income before taxes are taken out. Novated leases are incredibly beneficial for both the employee and employer, though of course there are certain disadvantages there as well. For jobs that need a lot of on the job travel, a novated car lease is likely the best way that the payments can be handled. 

How Does A Novated Lease Help The Employee?

With a novated lease, the employee never has to worry about making their car payments. The car payments are automatically deducted from their paycheque pre-tax. Not only does this mean they don't have to track the lease payments, but it also means that they can get a better car for less money because they don't have to pay tax on the amount. Employers also tend to have deals with automobile companies to lease cars by volume. That means that the employee has more savings because of the company's better rates.

Rather than other types of employer lease, the employee does keep certain rights over the car because the employee is making the lease payments. The employee gets more choices of car than in a traditional employee lease agreement, and the employee gets use of the car when they are outside of work. The employee can even keep their vehicle if they leave the company by transferring it to another company. 

How Does The Novated Lease Help The Employer?

On the employer's behalf, though the lease is financed through the company the employee still makes the payments. This means very little out-of-pocket cost for the employer. All the employer has to do is secure the lease, and manage the payments from the employee's paycheques. Because the employee is saving money on the lease, the employer can consider the lease a perk that the employee gets, and so save money on salaries.

Employers that need to have their employees travel during office hours save significant funds over providing company cars. Company cars would need to be purchased and retained by the company and not leased, or leased at a higher amount. The novated lease, by contrast, incurs no more cost on the behalf of the business. 

What Are The Drawbacks To A Novated Lease?

Because a novated lease is still a lease, the standard problems with this type of lease still applies; at the end, neither party will own the vehicle, which means that the employees are purely paying an expense and not gaining an asset. This said most novated lease companies will offer easy paths to ownership which will still work out as more cost effective for the vast majority of customers. This normally involves paying a fee at the end of the lease to purchase the vehicle outright

This article was written by the team at Novated by Fleetcare, independent Australian novated lease providers with offices all around the country.

Learning To Make Better Financial Decisions

Whether you value material things or you simply like knowing your bills are paid, money matters. Dedicate the necessary time to find out as much as you can about finance, so that you can remain in control and avoid stress. The information in this article is designed to help you understand and effectively manage your personal finances.

Review your income as well as how much you spend so that you can then formulate a budget. Figuring out how much money you make in a month is where you should start. Include second jobs and other sources of money in your income calculations. The foundation of any budget is ensuring that you spend less than you earn every month.

Home Expenses & Loans

Now, you should write down all of your expenses. You will want to include everything you pay on a quarterly and annual basis too. This would be things like insurance, vehicle maintenance, or regular household upkeep. Included in your list should be incidentals such as entertainment, food, and even the cost of hiring a babysitter. Try to make a very through list to ensure you are aware of absolutely everything you spend.

You should be able to establish a budget now so that you know exactly how much income you can generate. Look over all your regular purchases and decide what is and isn't necessary. For instance, instead of spending money by eating out, you could easily cook something at home, and save money. Examine your spending patterns in search of other ideas to trim costs and keep your money in your pocket.

There are things around the house that you can repair or upgrade that will help reduce your utility bills. A brand-new, energy-efficient dishwasher or washing machine can save you a load of money on your water and electric bills each month. An excellent replacement for a tank heater is a water heater that is either on-demand or in-line. This will decrease your water bill. In addition, you should look for leaky pipes, because they could be causing your water bills to be higher than they should be.

Think about buying energy efficient appliances to take the place of your current models. It will save you a lot of money if you use appliances that use up less energy. Also remember to unplug any appliances that have a constant light going whenever you are not using it. These little lights can really use electrical power.

A good percentage of the heat lost in your home is through the walls and ceiling. Avoid high utility bills by making sure these areas of your home are well insulated. Spending a little money now will save you lots of cash down the road.

Follow these tips to establish a good budget. This will help you save money. Reduce your utility bills with new Energy Star qualified appliances. You will have better control of your finances by doing this.

For more information about home or car loans , please visit:

https://www.alpinecu.com/loan_rates.php

Of the People for the People: When Banking Goes Social

Social media has come a long way, baby, over the past decade. Analyzing the already (in) famous case of Facebook alone will reveal a spectacular tale of a brainchild born out of the enthusiasm of three Harvard dropouts. What started out as a basement dream evolved into a social network especially devised for students and alumni of Ivy League colleges, which then expanded across colleges in the United States and eventually took over the whole world. Nowadays, there is little people don’t do on Facebook. They chat, keep friends, family, and acquaintances updated of their personal status quo and whereabouts – and, more recently, they’ve also started taking their banking to new social level. 

Of course, this latest revolution is inextricably tied in with the mobile revolution, in which both technology and IT savvy have a lot to say for themselves. Over the past year, the US market reach and share of smartphones has increased to great extents and the latest polls in the field indicate that it will only continue along the same lines in 2013. Not only are more and more people online, but the range of actions they perform on their mobile, online-ready devices is also becoming more and more diverse. Supremacy belongs to game playing, which has surpassed, in terms of time spent at play, the time people spend playing video games on their desktop devices. Online and social banking, however, is also undergoing a quiet revolution of its own. 

Two of Australia’s Leading Banks Go Social

Bankwest is one Australian bank that realized the catchphrase according to which ‘you don’t exist if you’re not on Facebook’ is truer than they may have initially thought. At http://www.facebook.com/bankwest they’re keeping clients informed, both current and prospective ones, of all the bank’s activities outside the main institution’s premises. Their strategy is personal and their approach light, as their profile is peppered with pictures from recent social events, organized in support of the bank’s many social initiatives. Bankwest is one Australian bank which has been focusing on online presence more so than others in recent times – their online savings, credit card, and personal loan deals often come with better terms than their offline counterparts.

Bankwest is not the only online Aussie bank either. Another major competitor on the market has recently launched a marketing campaign aimed at informing clients of the many services they offer online. These range from enabling payments via mobile, to dedicated smartphone apps for people seeking to purchase a new home. According to the bank’s representatives, their latest campaign is about improving the bank – customer relationship, and not about “technology for technology’s sake”. The decision to go online and implicitly social was marked by the bank’s desire to stay on top of its game, to improve the way banking was viewed and to provide a higher-value experience for the end-user. 

What’s in it for the Banks?

As the latter example goes to show, taking a banking enterprise online and helping it stay connected with its clients through multiple channels is not about being ‘trendy’. It’s the next logical step in an approach that is firmly rooted in the traditions of the banking industry. Back before the global financial crisis, and even further back in time, during the fifties, sixties, and seventies, banks were perceived as more ‘humane’ and implicitly human than they are now. The GFC changed all that, as many institutions across the world tumbled toward their inevitable end, fueled, it seems, by a lot of inhumane amassing of capital. Current attempts at socializing via the newest means available are, by the looks of it, an attempt of making amends for the past decade. Time alone will tell if the general consumer public chooses to validate this attempt or dismiss it.

Assessing the Damage After Your Identity Has Been Stolen

The Traveler’s Guide to Preventing Identity Theft offered by Guest Door is a wonderful resource with many hints that can help you prevent identity theft. If you travel frequently, or you’re concerned about protecting your identity while you’re out and about, you should read over this info. But what do you do if your identity is stolen?

You get that dreaded phone call: there’s been suspicious activity on your credit card and your bank wants to know if you've been engaging in a spending spree. You’re shocked and appalled. Your identity has been stolen and you've got to act quickly if you want to protect yourself from additional theft and damage.

You’re understandably overwhelmed. What do you do? You want to figure out how this has happened. There are a few steps you’re going to have to take to protect your wallet and your credit:

Contact Equifax, Experian, or Transunion Immediately

You’re going to have to place a fraud alert on your credit report. You won’t have to call all three. Once you contact one agency, they’ll inform the others. They’ll also be sending you a copy of your credit report for you to review. Fraud alerts are extremely important because it requires companies to verify your identity before issuing a line of credit in your name. This will prevent thieves from opening any more new accounts in your name.

Contact Creditors Right Away

If the perpetrators have opened new accounts, contact those creditors and notify them of fraudulent activity. The accounts will be closed and you’ll have to fill out a fraud affidavit. If accounts that you opened have been compromised contact those creditors and let them know your identity has been stolen. The accounts will be closed and you’ll be able to review any charges to determine what activity has been taking place.

Contact Local Authorities

The next step is to contact local authorities and alert them to fraud. A detective will be assigned to your case and you can ask for any details about the charges. You’ll want to let them know what was spent and how your identity was stolen. When you finish providing information to the police, be sure to write down the case number and detective’s name. You’ll have to include this information on any fraud affidavits.

File a Complaint with the FTC

You’ll also need to notify the Federal Trade Commission by calling 1877-IDTHEFT.
Change all Online Passwords

You’ll want to change all your online passwords. The thieves may have acquired information from one of your accounts. Additionally, this may be inconvenient, but you should never store passwords online or on your computer.

Always Keep Records

You’ll want to keep updated records throughout the process. You should keep up with details of your dealings with any creditors, companies, and detectives. You should always write down the name of anyone you speak with, their title, the company they work for, the date, and time as well as a short summary of the discussion you had.

You’ll need to keep all this information in one location that is safe. It’s evidence that you will need later. You might find yourself being diligent initially, but important information may surface later. You need to track everything until all of your disputes are resolved.

Identity theft shouldn't ruin your life or your credit if you can manage to stay calm, be organized and take those first crucial steps involved in resolving any issues. You can bounce back from this stressful situation and you can stop those identity thieves right in their tracks. It might be tough initially, but it’s not an impossible situation.

Author Bio:

If you are still curious on what more steps to take in preventing identity theft, you can visit GuestDoor. You can also visit Traveler's Guide to Preventing Identity Theft.  

Start Filing Your Tax Return With These 6 Steps

IRS Form W-9 (Photo credit: Wikipedia)

By Neda Jafarzadeh, a financial analyst with NerdWallet Investing. NerdWallet helps consumers make better financial decisions and compare total costs to find the best broker for their needs. 

If you haven’t already started preparing your 2012 tax returns, you will want to get started as the April 15th deadline is fast approaching. To get started, consider the following six tips: 

Tip 1: Know If You Need to File

If you aren’t sure whether you need to be filing a tax return for 2012, the IRS has a page that helps you decide whether or not you need to be filing. If you’ve decided that you do not need to file a tax return, keep in mind that you won’t be able to take advantage of the various credits that would otherwise be available to you. For example, if you made less than $50,270 in 2012, you may quality for the Earned Income Tax Credit (EITC), or if you were a college student in 2012 or your dependent was a student, you may be eligible to receive the American Opportunity Tax Credit. 

Tip 2: Taxable vs. Nontaxable Income

While most types of earned income is subject to taxation, other types such as child support payments, gifts, inheritances and welfare benefits, are not. In addition, keep in mind that if you received a refund, credit or offset from the state, you may be required to include that as income even if you did not receive a Form 1900-G. To learn more about what income is subject to taxation, check Publication 525 on the IRS page. 

Tip 3: Finding Forms and Publications

There are numerous ways you can get the forms you need to file your tax return. One way is it get the forms online or by phone if you call 1-800-TAX-FORM (800-829-3676) between 7:00 AM to 7:00 PM, Monday through Friday and request that they be mailed to you. You can even find the forms at your local post office or public library. 

Tip 4: Don’t Get Scammed

Tax scams are more common than you might think and the IRS has gone to great lengths to educate the public on recognizing and reporting these scams. If you aren’t sure whether you’ve fallen victim to a scam, the IRS has set up case scenarios to help you identify common scams, usually involving phone scams or identity theft. If you know you have fallen victim to a scam, you can use Form 3949-A to report it to the IRS. 

Tip 5: Get Help

If you are planning on using a DIY tax software, make sure you read customer reviews for the tool to see if your needs will be appropriately satisfied. NerdWallet also ran a comparison of the top two softwares available H&R Block and TurboTax, so feel free to reference that resource as well. If you plan to hire a professional tax preparer, do check his qualifications by asking for his Preparer Tax Identification Numbers (PTIN). 

Tip #6: Use Tax Credits Available to Parents

If you are a parent, be sure to look into the tax credits that are available to you like the Child and Dependent Tax Credit. You should be eligible to receive this credit if you have a child under the age of 13 and had to pay for a caretaker while you went to work or while you looked for work.

Top 100 Finance Blogs To Follow in 2013

Here's a list of the top finance blogs to follow in 2013. I'm proud to be on it. I know a lot of these blogs but many I don't. I will be checking a few out, why don't you do likewise. Thanks Couponaudit.com.
 
An infographic by the team at Couponaudit.com
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Guide for Freelancers: Working with Difficult People while Avoiding Problematic Scenarios

Facing daily challenges is not as difficult as dealing with people with problems. This article will help in explaining how to deal with difficult clients and how to handle their questions and reactions. 

Difficulty in Dealing:

Following are explained some reasons of why the freelancers perceive some clients as difficult:

• Communication Style Differences. Communication is the medium through which the complexity of any client can be predicted. Some people feel more comfortable in any type of communication medium. Some uses email, phone calls, chat or face to face meeting. The difficult people find a way in any type of medium to irritate the employer. 
• Knowledge Based Differences. Not everyone can understand everything and not everyone knows everything. Freelancers have to guide the client with proper knowledge and make him understand things he does not perceive correctly. Sometimes the client offers low price for large amount of work, for this freelancer have to elaborate the price scheme so that he understands the amount of efforts required. 
• Life Experiences’ Differences. It’s virtually impossible for a person to acknowledge what the other person has in mind and what he/she is going through unless he/she share. It’s an important note to memorize that mostly people have diverse behaviors in the stressed situations. 

Salvage Relationships:

The first choice for a freelancer should be to salvage the relationship if the client is difficult. If the reasons have been identified of client being difficult, proper steps should be taken in dealing and correcting the relationship. It can either be adjusting the way freelancers operate or by swallowing their pride. Below are various specific steps which could be taken for resolving the specific problems:

• Communication Style Differences. Communication is the medium through which the complexity of any client can be predicted. 
• Knowledge Based Differences. Not everyone can understand everything and not everyone knows everything. Freelancers have to guide the client with proper knowledge and make him understand things he does not perceive correctly. 
• Life Experiences’ Differences. It’s virtually impossible to acknowledge what other people are going through unless they speak of their problems. It’s an important note to remember that most of the people have diverse behavior in stressed out situations. 

Time of Ignoring People with Problems:

Salvaging the relationship with a difficult person is generally considered as best option. There might come some times when it’s best to ignore difficult person. Usually it’s preferable to ignore difficult people to avoid any irritation in work. For instance, if the client is asking for status reports on daily basis, it must be annoying but providing them with the reports. 

Last Resort:

Last resort for a freelancer is to cut off the difficult person from the work entirely. One should go for such act after much thinking because one it is done, it can’t be undone. Ending the relationship should be made if there is not step or chance of reconciliation left.

Author Bio:

Austin Richard is an IT professional from prepnerds. Are you really looking for Prepnerds.com Assistance? Take the benefit of Apple Certification Exams and pass your exam easily.

  

Forex Basics

International Currency Money for Forex Trading (Photo credit: epSos.de)

The Internet and advent of electronic funds transfer in the early 90s made the world’s forex markets readily accessible. Today, the forex is one of the largest securities market in the world. Different players contribute to its market volume including individual investors, and huge hedge funds among others. Forex trading continues for 24hours as traders try to profit from changes in currency exchange rates. 

Basically, forex trading is quite simple because it involves buying one currency with another. If a trader buys a currency with another and the exchange rates of the two currencies move in the favour of the trader, the forex trader can buy back the original currency at a profit.

Trading in the forex market is based on a bid/ask system. The difference between a seller’s asking price and the buyer’s bid is called a spread. The smallest increment in the exchange rate is known as a pip and is usually one one-hundredth of the US cent. Commissions are not charged by forex brokers. However, brokers mark-up spreads to 3-20 pips and keep it as their fee.

Forex trading is all about exchange rates. To monitor changes in currency exchange rates, traders need to analyse forex charts, which show trading activities within a certain timeframe. There are several types of forex charts but the most common are bar charts and candlestick. Traders should have proper understanding of these charts to spot trends and make smart trading decisions.

How to read a Forex Chart

• Locate a chart to analyse. Charts can be found online or in specific forex markets
• Find the range. Charts are a reflection of short and long term trading. Forex trade beginners can easily read charts with a range of at least a day but not more than one week. 
• Identify the chart type. Bar charts have price ranges indicated with vertical bars while candlestick charts have vertical rectangles. Line graphs do not have bars or rectangles. Charts come in different forms and traders can switch to candlestick or bar charts for easy interpretation. 
• Locate open and close prices on horizontal “pegs” in a bar chart and top and bottom of rectangles on a candlestick. When the open rate is lower than the close rate, the rate has an upwards trend and the opposite is true. 
• Look at the chart as a whole. It will have groups of bars with different colors moving up or down indicating upward and downward trends respectively.

Common Mistakes in Forex Trading

Lack of knowledge
Forex trading is complex. There are many factors that affect currency markets including interest rates, inflation, elections, wars and money supply among others. These cause currencies in affected regions to swing up or down. Traders without knowledge of the countries whose currencies they trade in can make poor trade decisions.

Lack of discipline
One of the most important traits that forex traders should possess is money management skills. Traders with a plan on where to sell in case a trade is losing money can make higher profits.

Getting too complicated
Some people believe that the more complex an investment is, the more profitable it can be. This is not always the case with forex trading. Most traders who benefit from forex trading do the basics.

Greed
Some traders also believe they can make high returns every day. This makes them take huge risks in a bid to make more. Eventually, they lose all their money if they invested blindly.

With forex, traders can make huge profits on their investments but with the wrong decisions, they can also incur huge losses. Forex traders who learn the basics can avoid making blunders that will make them lose money.

If you want to learn more about Forex trading and want to understand those seemingly complicated currency charts, you can visit http://www.forexcharts.net/.

Make Credit Card Debt Disappear, Even If You're Retired!

Retirement isn't supposed to be a debt riddled way of life. It should be a worry free, enjoyable time. Unfortunately, for many consumers debt has ruined their retirement. But what if I told you that, you could still pay your debts off? What if I told you that you could do it paying no more than your minimum payments right now? Well, you'd probably think I was trying to sell you something. Good news, I'm not, you can do it on your own! No need to pay that debt consolidation company $3,000 to do it for you. It's actually pretty simple, here's how:

Step #1: Make A List Of Your Debts: 

I've seen the smartest people I know make stupid mistakes because they forgot to prepare before doing something. When you do anything as important as working your way out of debt, it's vital that you get prepared. To do so, you will need to understand your debts. Start by making a list of all of your credit cards with a balance. Make sure to order your list from highest interest rate to lowest. Also, it should include the lender name, interest rate, balance, minimum payment, customer service phone number and pay to address for each of your credit card debts.

Step #2: Decide How To Go About Reducing Your Interest Rates: 

There are 2 different options that you can chose from for DIY interest rate reduction, first is interest rate negotiations and balance transfers, the second is financial hardship programs. Either of these options coupled with solid, aggressive payment plans, which I will go over later can prove to be a dream come true for you and your family. So, how do you decide? It takes a bit more than one paragraph so, I'm going to separate this step into sub-steps:

1. Check Your Debt To Income Ration – Add all of your credit card balances up. Do they add up to more than 15% of your annual income? This plays a crucial role in your decision because if your debts add up to more than 15% of your annual income, chances are, you will not qualify for enough of a credit line to transfer your balances via balance transfer credit cards. Also, you may be in the midst of a financial hardship.
2. Add Up All Of Your Minimum Payments – Can you afford to pay at least that amount of money every month? If not, you are dealing with a financial hardship and your lender has assistance for you.
3. Figure Out Your Credit Scores – If you have poor to fair credit scores, the truth is, you will not qualify for any balance transfer credit cards that are worth applying for. This however is often a sign of financial hardship!
4. Make Your Decision – If your debt to income ratio is too high, you can't afford to send at least your minimum payment comfortably and you have bad credit scores, financial hardship programs will be a better option for you than balance transfer credit cards. However, if you do have a low debt to income ratio, good credit scores and can afford to pay make your payments with a little extra comfortably, balance transfer credit cards are going to be your best option.

Step #3: Reduce Your Interest Rates: 

I have written several publications on both options for reducing your interest rates. If you decide on financial hardship programs, I suggest reading, “Understanding And Applying For Credit Card Hardship Programs”. If you decide that you would rather use balance transfer credit cards for interest rate reduction, please read “Do It Yourself Credit Card Debt Consolidation”.

Step #4: Decide On A Constant Payment: 

Have you ever noticed that as you pay your credit card bills, every month or two, the payments get a few cents or even a buck lower? This is because your minimum payment is based on your credit card balance. Therefore, if you can commit to sending no less than your minimum payments this month, you can commit to sending more than your minimum payments in the future. Every extra penny going to your principle balance saves you money in the long run. So, to decide on a constant payment, add all of your minimum payments together. Can you afford to send more than the total? If so, write down the total payment you can afford. Now, commit to sending no less than this every month until your debts are completely paid off. If you do so, you stand to save thousands of dollars in interest and years of time paying off your debts!

Step #5: Stack Your Debts: 

The debt stacking payment method is one that attacks your highest interest rate first. To do so, send minimum payments to all of your credit cards with the exception of the highest interest rate each month. All extra funds left within your constant payment should be directed to your highest interest rate. When your highest interest rate credit card is paid off, don't go back to making small payments and keeping the rest! Now, send all extra funds to your next highest. This aggressive payment method will really get you paid off fast!

My Conclusion

Even if you're retired, you don't have to live with credit card debts. If you follow this plan, you will be free in just a few years and finally be able to enjoy your retirement. I hope you've enjoyed my article and hope you come back to read more to come!

About The Author – Joshua Rodriguez

This article was written by Joshua Rodriguez, proud owner and founder of CNA Finance and avid personal finance author. This article was inspired by his most recent series, “Balance Transfer Credit Cards – A 7 Step Guide To Understanding This Option”. Join the discussion about this article, Joshua's series or any personal finance topic of your choice on Google+!

Get Emergency Cash with a Car Title Loan

Car Title Loan Reflection (Photo credit: Jeremy Brooks)

Unexpected expenses occur for most people at some time in their lives. While it is certainly the best policy to have a reserve of available funds in a savings account, a depressed economy and job loss can make that difficult. 

These circumstances may also result in a person losing their positive credit score, so a cash loan is not usually available when unexpected expenses arise. Fortunately, vehicle registration loans can provide the answer to this dilemma. 

LoanMart is a company that offers quick cash for loans commonly known as title loans. If you find yourself in immediate need of funds, you can access the equity in your vehicle through an automobile title loan. A vehicle title loan is different from a payday loan in that it is a long term loan. 

You will be required to make monthly payments just as if your car were financed. LoanMart will be listed as the lienholder on your title until your loan is completely paid off. LoanMart streamlines the approval of your loan, so your cash is likely available within 24 hours. 

Although LoanMart will do an internal check on your credit, the primary considerations are the condition of your vehicle and its value. You can apply online to get your documentation started. When you arrive at one of their convenient locations, a LoanMark representative will go over your documents with you and then inspect your vehicle. Your loan should be finalized within about 15 minutes, and you can leave with your check.

How the Car You Choose Affects The Kind of Finance Deal You Can Get

(Photo credit: Wikipedia)

Buying a second-hand car can be an excellent decision if you are trying to save a bit of money. However, one thing that you should remember if you want to buy a used car is that it may affect your financing options. Indeed, people are often surprised when they decide to buy a second-hand car only to find that they cannot get any access to financing. Here is a quick guide to the reasons behind this, and factors that you should consider when choosing a second-hand car if you want to get better access to finance. 

Used Cars Present a Greater Risk to Lenders

If you want to secure financing for a second-hand car, you may find that the lender has strict requirements about what they will lend you money for. For example, many lenders will not consider providing any financing for second-hand cars that have traveled over 100,000 miles, or for cars that are older than five years. 

The reason for this is that such loans are seen as higher risks by lenders. An old second-hand car, or one with many miles on it, is more likely to break down. If this happens, the person who borrowed the money may be more likely to stop paying back the loan. 

There is also the resale value of the car to consider. If you want to arrange a hire purchase agreement, the car is used as collateral. If the value of the car falls too low because it is too old, and you decide to stop paying for it, the lender will not be able to recoup their money. 

As a result, many lenders will not provide loans for buying second-hand cars. If they do agree to lend you the money, they will often insist on a much higher APR or a larger deposit. 

How to Choose a Used Car

It is not impossible to secure a good car financing deal when you buy a new car. However, to find the best deals, you should: 

• try to find a used car that is between six-months and five-years old. Although all lenders have their own specifications, you are more likely to get financing if the car is newer. 
• look for a car that has traveled less than 50,000 miles. The higher the mileage, the less chance you have of getting access to a good loan. 
• look for a make of car known for its reliability. If there is less chance that it will break down, a lender may be more likely to consider lending you money. 

In addition to the above, you may want to spend some time looking around for lenders that specialize in higher-risk loans. Alternatively, consider a different form of loan such as a secured loan. With this you will be able to use the money for any purpose, but remember that you risk losing your property if you fail to keep up with your payments. 

Find Financing for Your Used Car

Buying a used car can make a lot of sense if you need a vehicle but you cannot afford to buy a new one. However, take the above information into consideration to improve your chances of finding a suitable financing deal. Alternatively, do not completely rule out buying a new car. With the excellent financing deals that are available these days, and the fact that a new car will require less maintenance, it may still prove to be a better option in the long run. 

Neil Stelling has extensive experience in car sales and finance. In his spare time, he enjoys sharing his insights with others through blogging for a number of different websites. Click the car finance help link for more information.

Simple Ways to Invest In Real Estate

Real estate is one sector where you can expect your hard earned money to multiply. There are several ways you can do so. Experts are of the opinion that instead of locking your cash in bonds and stocks or keeping in banks, investing in real estate is always a wise decision as it gives you good returns. Let us see how and what your options are. 

• Getting a property at a lower price - Let us say it has come to your knowledge that a family in your neighborhood is trying to sell off their house as they are in dire need of cash. As such they are looking for buyers and they are also ready to dispose it off at a price which is way below the market value. In other words, the homeowner is planning to release the trapped equity in his house by selling it off. If you can approach the homeowner and offer to buy his house, you can be benefited in the long run. Also find out for how much the homeowner is planning to sell it off. 
• Buying property to let out - It has also been observed that there are many investors that buy property only to let it out so that they can get good returns every month. There is a common trend among homeowner and that is if they have a house for which they are paying mortgage, they prefer to put the property on rent so that the rent they earn can service the mortgage payments. In this way the financial burden is also reduced to a considerable extent. 
• Wait for property appreciation - There are many investors in real estate that buy property and wait for a certain period so that they can get good returns once the property appreciates. But in this case, you as an investor have to wait for the property appreciation. The trick to get the maximum return from this property is to wait for as long as you can. The longer you wait the better are your returns. Investing in property for a short time span and waiting for it to appreciate will put you at a loss. 
• Enhance the look of property - Let us say you have invested in property but there are few drawbacks of the same. You can make modification of the same and make it inhabitable. 

So, by following the above guidelines your real estate investment is sure to give you good returns as these are all tested methods.

ImageCredit:http://www.flickr.com/photos/realestateinvestinggurureview/6259652837/in/photostream/

8 Great Tips to Save Money in 2013

With high inflation rates, the current state of the economy and ever-increasing inflation rates, it is never easy to save money. With 2013 looking to be just as difficult as recent years, we look at 8 ways you can defy the odds and save money, from reviewing your mobile phone contract to saving energy at home. 

1 - Online Banking 

Setting up and regularly monitoring your online banking is a great way to keep on top of your finances and help you save money. You have the chance to reduce costs or perhaps cutting out expenses in certain areas just by reviewing what you are paying for. 

2 - Sell Your Items 

A great way to raise some quick cash is to sell your items, from books to DVDs to old phones. Whether you choose to cash in at a pawnbroker, a car boot sale or even online, there is money waiting to be made in your own home. 

3 - Compare Energy Providers 

As recommended by The Finance Legend - the internet now holds all the information you need so why not research who is your cheapest local energy provider to help you save. With energy rates increasing again in 2013, even a small saving would help you out in the long term. 

4 - Mobile Phone Contract 

Reviewing the amount of calls and texts you send each month against your contract details can help you save money, especially if you are using a lot less than you are paying for. On top of this, get quotes from a range of different network providers to find the best deal for you. 

5 - Low Cost Loans 

If you want to become more energy efficient around the home then consider taking out a low cost loan in order to help you carry out repairs and DIY. On top of the savings made from cutting energy costs you could also increase the value of your home. 

6 - Manage Your Food Shopping 

Food shopping is all about planning; make sure you know how much food you will need until your next big food shop. Cutting corners, takeaways and last minute runs to the corner shop will end up costing you much more than you expect. 

7 - Save Energy at Home 

Simple energy saving tips such as ensuring all taps and lights are switched off when not in use, turning down the thermostat by a few degrees and installing energy monitors can help you save money in the long-term. 

8 - Be Careful With Credit Cards 

With the high interest charges associated with credit cards, try to plan out the situations in which you would use this over your regular debit card. That way you limit your charges and effectively save money for the future. 

In summary, it is vital to plan and review your current and future expenses. Remember to work out where you could be saving money in ways such as using energy monitoring equipment around the home or getter a better contact for your phone. Good luck to everybody saving in 2013! 

Author Bio: Luke James writes for thefinancelegend.com. He has been writing about finance for years and enjoys holding seminars in which he gives out financial advice to others.

Currency Trading

Currency trading can be a fascinating and profitable field of investment for those who learn the market well and have access to brokers offering good guidance. 

Through education and experience the currency market, or "forex" (FX) for short, can offer unlimited investment opportunities that are often as good or better than the traditional stock market offers. 

What is Currency Trading?

The currency market continues to grow in size, even though it is already the world's largest investment market. There are literally trillions of dollars in average daily turnover, in contrast to the mere billions in the daily volume that occurs on the New York Stock Exchange. 

It is a 24-hour market (excepting weekends) consisting of three trading sessions that include the United States, Europe, and Asia. Unlike the stock market, in which investors deal in single stocks, currency trading is done in pairs, buying one while selling another. 

The trick is to make these exchanges profitably. Currency markets are influenced by the same factors as the stock market, such as supply and demand, interest rates, economic data, and world events. 

How to Succeed at Currency Trading

Just as with the stock exchange, in currency trading, there is no automatic formula for success. With currency trading, you need to follow the market carefully and thereby learn the way various currencies typically respond to specific events and economic and political developments. 

Just like you would want to know something about the businesses in which you are buying stock, so you would want to know the economic and political factors influencing a specific currency. Many investors find this monitoring of the world currency markets fascinating. 




The Importance of early guidance in the currency trading market is easy to learn, but the strategies for making money consistently require a combination of both experience and sound advice. 

The regular use of an experienced forex broker is highly recommended in the early stages of entering this market so that you can be warned away from typical and potentially expensive beginner's mistakes. 

Once you gain enough knowledge and experience, you can determine what investment strategy works best for you. Many investors find that currency trading is more interesting and exciting than the New York Stock Exchange, with as many or more opportunities to profit financially. 

It is certainly worth talking with a forex broker to help to determine whether the currency trading market is right for you.

Understanding Binary Options Trading

binary options (Photo credit: opportplanet)

When it comes to binary options trading, there are a lot of things that people would like to know. The most important thing that you should know first of all is that binary options trading is not something that you can expect to master on your own. Sure, you will be able to get a clear idea of the concepts and the basic terminology, but in order to be able to successfully predict and gain profits in this field, it is important for you to register the help of an experienced guide. 

Basically, the whole point of binary options trading is to make the correct predictions. When it comes to this type of trading, what you have to do is to predict the value of an asset as it would be after a certain period of time. If your prediction turns out to be true, you gain money on your investment.

And, if you fail to make the correct prediction, you will lose money. However, there are several brokers out there who will return a certain portion of your investment in case you lose.

At present, there are hundreds of different online trading platforms that people can choose from. When it comes to binary trading, all you need is knowledge, a computer and an internet connection. When it comes to binary options trading, here are a few things that set it apart from other types of trading:

• It is much more direct as compared to other types of trading 
• Those who learn to successfully trade binary options stand to gain lots of profits. 
• A lot of information is required before you can begin to play 
• You can learn with time, but it is going to give you a lot of losses. That is why your own will power plays a very big part here. 

If you are interested in binary options trading, the first thing that you need to do is to read a proper binary options review, which will tell you on how you need to trade options properly, and what the whole system is all about.

Binary options trading is all about making the right choices and the right investments, so if you are not experienced, it would be wise to join a forum in order to gain a clear idea about how binary options trading should be carried out.

Obviously, when it comes to trading assets, you will need to be vigilant in order to make sure that you get the right estimate, so your concentration levels play a very important part. You need to make sure that when trading assets, you have a binary options broker to consult with, as these experienced professionals can help you gain much higher profits.

Obviously, changes in the market value will affect your chances of success or loss, but the good thing is that you can make the right choice from the get go and stand to earn money on your investment! This is binary options trading in a nutshell!

Author Bio: Peter Christopher is an experienced financial writer and blogger. His forte is writing informative articles on different investment and personal finance topics.

13 Money Saving Tips for 2013 - Infographic

Wouldn't we all like to save a few hundred dollars every month. It seems when you get down to it the money we waste on our daily lives can really add up over a years time. An adjustment in our lives with a little bit here and a little bit there can keep a substantial amount of money in your pocket. 

The infographic below shows that just by making a few adjustments to our daily lives it is possible to save that $100 and more every month.

An infographic from the team at Quicken Loans.

Save Money on Auto Insurance

 (Photo credit: Wikipedia)

When it comes to finding ways to tighten up on the budget in tough times, many people, including me, look right past the most obvious solutions. 
Car insurance is one of the largest ongoing liabilities that any household incurs. Of course you cannot go without auto insurance, especially if there are kids in the house. The only alternative is to find the most cost effective solution on the market. 

Once you get tired of searching around the market for the best deals like I did, you can go to ifaauto.com for the best long term deals. I was so sick out trading out company for company every six months just to take advantage of some introductory offer so that I could save money. When it came to ifaauto.com cheap auto insurance, they had the best deals on their regular plans, not just their introductory plans.

Not only does this company have a cost effective plan for everyone, but they also have first rate service for the cost. You should not give up any kind of safety just to keep car insurance that does not actually help you. With ifaauto.com, you get the best of both worlds without having to spend your entire workday searching. True story: I almost got fired because I was searching for car insurance on the company dime because the best deals were simply too hard to find. Fortunately, I was able to tell you about ifaauto.com so that you do not have to go through the same thing.