How to Successfully Overcome Financial Issues

As society has evolved to accommodate more and more comfort, security and pleasure seeking, our fears have also evolved accordingly, and at the top of them is our fear of financial insecurity. The fact is that every endeavor we undergo is to some extent connected with our desire to reach a level of financial security where day to day life no longer comes with the burden of needing to find other ways of making ends meet. 

It is also understandable that in today’s financial climate, the anxiety about not having enough to cover basic needs is top concern for the majority of the world’s citizens, no matter which country or continent. And when the biggest fear we’ve faced our entire lives greets us at the door as we are served with an eviction notice, lose our jobs or find ourselves buried under a mountain of debt, it seems we can’t fight the feeling of being overwhelmed. 

Step 1: Access your Income and Beware of Debts

The truth is that it really lies in your control that you get out of debt. While general recommendations like creating plans for reducing the debt or increasing your income are certainly welcome, the idea is to systematically go through a set of steps that will bring you closer and closer to your desired goal.

The most important thing is to realistically assess your steady income and then determine which of that is being spent and on what. This means listing not only fixed expenses like gas, telephone or electricity bills, but also those that vary (such as recreation, clothing, gifts, entertainment). After having made your list, prioritizing and tracking what you have spent will come much easier. 

Step 2: Seek Advice from Professionals

The next step is to consider seeking financial advice from a reputable credit or financial counselor. There are many programs that offer lists of certified advisers. He will need to receive all the information you have gathered thus far, from your expense lists, to bills, debt lists, financial assets and anything you consider relevant to your situation. Then set a goal that you and your credit adviser wish to reach. Usually this is establishing a reasonable budget that can allow you to get your finances under control and reduce your debt all at the same time. If such an adviser is not within your reach, check out debtconsolidation.com.au where you can find countless information and tips on how to create such a plan yourself. 

Step 3: Make a Payment Plan

Contacting your creditors to set up a reasonable payment plan which is manageable is the next step you need to take. The home mortgage is the priority in this case. Many Americans for instance are unable to play their mortgage- but contacting the lender right at once will help you avoid foreclosure.

You will be surprised to see that many of them are open to cooperation when they see the situation is temporary and that you are actively involved in resolving the situation as fast as possible. There is the possibility of reducing the monthly sum by extending repayment periods, suspending payments for a determined period or not needing to pay additional amounts when resuming payments. With car loans, since a creditor is allowed to repossess the car at any time after the payments have stopped, the reasonable measure is to sell the car, pay back the debt and avoid added costs of repossession and negative credit reports. 

Step 4: Successfully Manage Your Debts

Debt consolidation through a second mortgage or other types of equity lines of credit may help you sink the cost of your credit but at the price of your house as collateral. There are positive and negative aspects related to these types of credits, you can obtain great tax advantages that are usually unavailable with other kinds of credits but you can end up paying “points” (a point is 1% of the total amount you borrowed).

Conclusion

As an absolute last resort, filing for personal bankruptcy may be an option if everything else has failed but the consequences will haunt you and are severe. The idea behind it is that it is decided in court that you are no longer mandated to repay certain debts but this information remains in a credit report for 10 years and this might make buying a home, getting another credit, and even getting a job difficult.

It is important that you maintain a positive attitude in this situation that would indeed turn any man’s nights into restless and full of doubt. In most cases the doubt situation is resolved and with a revised payment plan you are well on your way to getting back on your feet.

Tips on Learning Forex for Free with a Practice Account

If you’re a frequent traveler to foreign countries, then you must have the basic concept of foreign exchange or forex. The conversion of one currency (your currency) to the currency of that country you’re visiting needs a particular exchange rate. Every currency floats against others throughout the globe. Forex traders speculate the movement of one currency’s relation to another. According to a leading forex website, a very few percentage of traders can make money by trading in the foreign exchange market. So if you want to belong to that category, you must take advantage of online resources like practice accounts, online trading classes, self-instruction course books, e-books etc. for free. 

Here is how to start off with forex trading for free.

• Create a practice account – At the outset, you need to create a forex practice account, also referred to as a virtual account, for free. There are a number of online companies with which you can open your free simulator account. As a new trader, you must be accustomed with how to make trades and to the mistakes prior to investing real cash to transactions. Since forex training comes up with high leverage, you must check your account balance and account information regularly. Companies like Forex Loft offer real-time news and quotes on forex market. They also offer free practice account by creating which you can download online tools, graphs and charts. Such accounts can be accessed for free for as long as 30 consecutive days. However, sometimes extension is also possible on request. 
• Practice with a paper account – You can do it until your transactions make profit. You need to use spreadsheets to review the transactions. Since many currencies can be traded with a few cents or even less in a single trading session, you must learn how the traders utilize borrowed amount to increase their return on investment. For instance, a trader controls 100,000 USD/GBP and believes that the dollar price will rise against the pounds. If his trade moves just a few cents in his favor, then he may earn thousands of dollars. Since he can borrow up to 50 times of the amount he has in his account, the return on investment will be huge. 50 times’ equity is often offered to most forex traders. This leverage magnifies profit and/or loss of a trade and so may not be suitable for all forex traders. 
• Go through online classes – You may go through online classes as well as training courses for free. You may also get course books at free of cost through your regular library’s Internet system. Any reputed library allows their members to access their Internet system. For free online training session, you’re required to have prior registration. You can use free online course books to implement foreign exchange trades in a virtual forex practice account. 

Discussed above are some useful tips with which you can get a hold over forex trading for free.

What to Look for in a Conference Venue

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If you have a conference or business meeting coming up soon choosing the right venue for the event is critical for a successful event. It's important to prepare ahead of time by first finding and booking your venue because there are many events being held and bookings fill up fast.

When preparing for your event you will find that there are many different types of facilities available. The different venues available offer a variety of services and physical restraints. Today you have a choice of a variety of venues, you need to chose one that offers the services that fits your needs. Choose a conference venue in London for your next business meeting.

Types of Venues

• Convention Centers - These are large spaces that offer a variety of services. These are the largest of all spaces you have available and can be used for meetings that require a lot of floor space for attendees and displays
• Conference Centers - These are smaller than convention centers. These cater more to large business meetings that need to fit in a lot of people in a setting of a business or sales meeting.
• Hotels - Hotels offer both the convenience of on site accommodations and the flexibility of multiple options for meeting hall space.

Determining the number of attendees to your event needs to be established first. Not knowing this will cause problems and waste money. Having a venue to little or to big will cause your event to be a failure. No one wants to be crammed into a space and having your guests in a cavernous space will also be problematic.

After you have determined the number guest potentially attending there are other details that must access for a proper venue.

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Catering - A successful event consists of making your guest comfortable. Besides a great space you must also consider catering. Your attendees will be looking forward to having something good to eat. If you disappoint them, you have will have a lasting negative effect and leave a bad memory of your event.

Check to see what types of foods are offered. Is the food of high standard. How is the food presented and will they provide meals for guests with dietary restrictions. Check out a live event at your venue beforehand and actually see what is offered, it will help you decide if it's right for you.

If the catering is not what you want but you still like the facilities ask if you can bring in outside catering. Some great venues have excellent facilities but terrible catering, an outside caterer would solve that problem.

Venue Condition - If you want to make a good impression on your guests you need to book a venue that will be memorable. An event influences how the public and business associates view your company. Are the facilities clean and in good condition? Is the area quiet and free from distractions? Are the restrooms sufficient? Creature comforts are critical for making your guest comfortable.

Venue Reputation - A great event venue is not just about square feet and location it also is about the staff that runs it. Are the managers and staff willing to go the extra mile for their guests. Will they be helpful and flexible with special requests? Will you be treated well?

Will you really be allowed to make the venue your own? Will you be allowed to hang banners and add signage? Does the venue have business facilities and a concierge standing by to handle immediate needs? Will you be able to adjust seating, table, and room layout to suit your needs?

Modern Audio-Video Needs - Today's business meetings require modern up to date electronic equipment for presentations. Your venue needs to have equipment like TV monitors, projectors, lighting, and a good PA system. A good wired and wireless Internet that is reliable is critical for your presentation and the needs of your guests.

By making pre-event site visits, researching facilities equipment and services you will be able to choose the venue that will give you an outstanding experience for your guests and make the organizers look great.

The Benefits of Fixing Your Mortgage Rate

When making plans to purchase or refinance a home, you will need to decide whether your mortgage agreement will require you to pay a fixed or a variable interest rate. Fixed-rate mortgages are often the preferred choice for home buyers who do not wish to be caught off guard by sudden economic shifts or changes in personal financial circumstances. The main benefits of fixing your mortgage rate as opposed to signing up for a variable rate are described below. 

Steady Monthly Payments

Because mortgages with a fixed rate do not fluctuate over the course of the entire amortization period, your monthly home payments will remain steady until you are able to pay off your loan. Though minor adjustments to your tax and home insurance payments may occur on occasion, the amount of your mortgage loan itself is permanently set at a certain amount. This makes it easy for you to plan your monthly budget and adjust your expenses accordingly. For example, if your mortgage payment is fixed at $900 per month, you can easily plan to set that amount aside each time your bill is due.

Option to Make Additional Principal Payments

Though a fixed-rate mortgage agreement typically covers a 15-year or 30-year period, this type of loan does allow for you to make additional payments on your principal in order to settle your debt at a faster rate. If you are in the early stages of paying off your home and have extra money at your disposal each month, you may wish to apply that money toward the principal as your regular mortgage payment goes toward paying off interest. The option of supplementing your fixed-rate payments with additional funds can shorten the term of your mortgage by at least several years.

Security Against Inflation/Rising Interest Rates

Many homeowners appreciate the security that Fixed Mortgage Rates offer in regard to the continually rising cost of living. Inflation can increase the amount of your utility payments, grocery bills and entertainment expenses, but it cannot affect mortgage payments with a fixed interest rate. Similarly, if interest rates within the home buying industry become higher on the whole, you will not have to worry about paying an increased rate on your home. If your interest rate is fixed at 5.5%, it will remain there even if average mortgage rates rise to 6.5%, for example. In a world where monthly expenses can rise without much warning, the stability of a fixed mortgage payment is very attractive.

Fixing your mortgage rate is highly beneficial if you desire the comfort of knowing that your home payments will stay consistent from month to month. This option is ideal for people who prefer to live on a budget without having to worry about sudden debt increases. Speak with a professional mortgage lender for more information on how opting for a fixed rate can help you in the home-buying process.


Anna Cheswick is an experienced writer within the finance niche. She regularly submits pieces on obtaining and refinancing home mortgages to various blogs, websites and print publications. Anna works diligently to stay informed on current Fixed Mortgage Rates and variable mortgage rates.

How to Practice Golf Without Blowing Through Your Retirement Money

Growing up I always had some idea about what seemed to me like noble sports (golf for instance, lacrosse, polo) since it always seems such activities will never be available to those on a budget or with limited financial resources. The peculiar thing, however, is that playing golf does not require you to be rich, as I once believed. It requires much more consideration, granted, but it definitely can be done. 

Clubs and other equipment

What is most intimidating about golf, and perhaps the main factor that prevents new players from turning into regular players is cost, and cost begins where equipment purchase is concerned. And although it is clear that this particular sport is certainly one of those activities that will have players reaching deeper and deeper into their pockets, there are ways to minimize costs and still enjoy the sport as much as any other player.

The high prices of equipment nowadays can easily be explained by the technological advancements and sophistication that these items provide all to ease the game of players and to ensure maximum success rates. But it is not necessary to buy pro-line golf clubs right away, as these will surely be a large investment. There are starter golf sets that will rarely cost you over 200$ and which contain all the items needed for you to commence your golf adventure.

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There are many good deals on golf equipment internet sites like www.golfbox.com.au so take your time and search for what is in your price range. Moreover, if you may find yourself disliking the activity in this initial phase, such starter sets can easily be sold very close to the original amount you paid for it. Contrastingly, if you feel the need that investing in higher quality clubs, the same goes with selling this starter set. In this, re-selling your equipment will contribute greatly to your reduction endeavors when taking up golf. 

Instruction

For the newcomer, building a foundation is highly important when learning to play golf. Even though there are many PGA professional instructors trained to instruct in all aspects of golf, the private lesson prices (sometimes more than 100$ per hour) are simply too high to be justifiable. There are local courses however which also provide introductory group lessons and these are much more budget friendly (usually under 30$). If you have some experience with the sport and improving your swing is what you are after, you can save up on lessons by using a camera or recording device to analyze your swing by comparing it to pro player videos on YouTube. 

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Golf course

Another issue where most new golfers seem to get stuck on is practice venue: there are golf clubs in California for instance who charge anywhere between 400$ and 500$ for the entire course (18 holes) and this would indeed burn a hole through the player’s pockets. In this case, it is not about the amount of practice or in choosing low quality practice venues, but in correctly and efficiently practicing. And this is certainly something you can accomplish: as many golf courses are swarming with players hopelessly swinging at balls, you can effortlessly be one of those who swings once while others swing 5 times, but land the ball where you want it.

When working on your full swing for instance, make sure to concentrate on spending the majority of time working with the irons (and change your clubs on a constant basis). And since you are training to be a complete player, you need to address all aspects of the game, such as putting, pitching, bunker play, chipping: and since these elements belong to the short game, you need to know that many facilities offer practice greens for no additional costs. Another thing that will make your practice sessions more efficient is setting a goal for each one. You can also try nine-hole tournaments instead of 18-hole ones since they are significantly more affordable. 

Conclusion

All in all, it is essential that you are not overwhelmed by all you think you will have to spend in order to begin pursuing your new found interest. Be sure to focus on your game, practice while being concentrated what you are doing, be in tune with what it is you struggle with because you can work on those aspects that need improving. And all this while saving both money and time and shooting lower scores.

Understanding the Differences Between Personal and Business Credit

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If you’re a business owner and you’re in the market for a business loan, it’s a good idea to understand that there are big differences between business credit and personal credit. 

Personal Credit

Let’s begin with your personal credit. Hopefully you are already aware of the fact that your personal credit score takes into account your credit history. A credit agency most commonly will calculate your score using the FICO method, which is based on several factors such as your payment history, outstanding debt, new credit, and the length of your credit history.

TransUnion, Experian, and Equifax are the top three personal credit bureaus in the US. It is required by law that these three agencies allow you to request a free credit report from each of them every 12 months. Additionally, if you find an error or discrepancy on your report, under the Fair Credit Reporting Act, the credit reporting company and the organization that provided the incorrect information must investigate the error in a timely manner.

It’s important to note that any accurate negative information on your credit report, like missed payments, will eventually disappear after seven to ten years. And although those marks stick around for several years, you always have the opportunity to build and repair your own credit in the meanwhile.

You want to maintain the best credit score possible because it is your passport to low interest rates and fees when you decide to apply for a car loan, take out a mortgage, request a credit card, and more. If you have a favorable credit history, companies will be more inclined to offer you good benefits and trust that you will make payments on time.

Business Credit

With that being said, if you’re looking to take out a loan for your business, it’s best to do it under your business’s credit. Regardless of how stable your business may be right now, business endeavors can be risky, so you don’t want any of your business’s potential debt or missed payments to reflect on your own personal credit report.

So that’s where business credit comes into play. If you don’t currently have business credit, you’ll want to first form a business entity, apply for a tax number, and then set up a business bank account. Once you’ve done that, you can register with business credit bureaus, so that vendors can begin reporting your business’s payment history to them. The top three business credit bureaus include Dun & Bradstreet, Business Experian, and Business Equifax.

These credit bureaus calculate your business’s Paydex Score, which is similar to the FICO scoring method. The Paydex score takes into various factors, but relies heavily on your business’s payment history.

One of the main differences between your business and personal credit, is that there is no way to repair your business’s credit report. Just a few missed payments, and your business credit could be tarnished forever.

Another big difference is that there are no rules or regulations in place that require the credit bureaus to fix errors on your business’s credit. While you can still report mistakes or dispute errors, there aren’t any laws in place to facilitate the process or protect your business like there are with personal credit.

Understanding some of these main differences between personal and business credit will make you more savvy when it comes time to take out a loan for your business.

Chloe Mulliner writes and edits for CreditSources.org, a website that focuses on bad credit unsecured loans, cash advances, and all things credit related.