Monthly Archives: July 2018

When you are preparing to borrow money, it is worth your time to do you homework. Borrow with a strategy in mind seeking the lowest interest rate possible for the shortest period of time to save money. The type of loan you select can determine how much money you will spend in the long run. Here’s what to void:

1. Payday loans
2. Auto title loans
3. ‘Buy Here – Pay Here’ – car dealerships
4. Credit Card cash advances
5. Pawn shops
6. Friends and Family
7. Tax refund loans

https://www.moneytalksnews.com/9-dumb-ways-borrow-money-and-4-better-choices/

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Most of us spend money on things we can get for free and may not realize it. This is especially important if you are on a tight budget. Here are ways to avoid throwing money away by purchasing these things we can get for free:

1. Bottled water
2. Books
3. Brand names
4. Credit reports
5. Pets
6. Bank fees
7. Low insurance deductibles
8. Credit Card Interest
9. Basic tax preparation
10. Shipping
11. Life insurance for children

https://www.moneytalksnewscom/12-dumb-things-we-pay-for-but-dont-need-to/

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DIY or Do-It-Yourself is the best way to save money and to complete cost saving upgrades in a short time. Here are a few ideas for your DIY project that will give your home a new look:

1. Paint the front door
2. Add a bird feeder
3. Add path lighting
4. Get a pressure washer
5. Paint the front porch
6. Paint the garage door
7. Add mulch
8. Update a light fixture
9. Replace a porch light and more…

https://www.moneytalksnews.com/slideshows/xx-home-improvements-that-cost-less-than-100

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Nonbank lenders have been making a big push for consumers to take out personal loans. The average loan interest rate is 10.22 percent. Consumers are holding $3.9 trillion in total debt, a 25 percent jump in the past five years. Consumers who don’t have a lot of excess income are squeezed. Buyer’s beware of taking on debt – be mindful of the interest and how the payments will affect your savings, and the ability to repay.

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Debt can destroy your financial dream and make day to day living stressful. Debt makes it impossible to get ahead. Paying off debt required dedication and persistence. Her are a few smart ways to pay off debt fast:

1. Stop using credit cards
2. Pay as much as you can afford each month
3. Make cuts to your spending
4. Double up on payments
5. Use windfalls to pay down balances
6. Freelance to earn extra money
7. Tackle debts with the highest interest first
8. Don’t sacrifice the things you love the most

http://www.moneytalksnews.com/8-smart-ways-pay-off-debt-fast/

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The idea of saving for a rainy day has been around for centuries. Most of us want to prepare and set aside something for an uncertain future. Saving effectively is harder than it sounds, but it can be done if you are willing to be creative. Try to invest wisely using the right mix of assets. Remember investing is important for everyone no matter your income level. Here are some tips and how to avoid them:

1. Not investing
2. Investing before doing your homework
3. Being impatient
4. Not diversifying
5. Taking too much risk
6. Not taking enough risk
7. Getting greedy
8. Paying too much attention
9. Following the herd

https://www.moneytalksnews.com/12-dumb-moves-investor-make/2/

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A car is the ultimate financial black hole. This depreciating asset sucks up your savings and future wealth. This is the reason why many frugal drivers push a car to 200,000 miles or beyond. A little TLC is needed to reach this goal. These ideas get help you accomplish this goal:

1. Buy the right vehicle
2. Follow your car’s maintenance schedule
3. Change the timing belt before something goes wrong
4. Purchase quality parts
5. Find a great mechanic

https://www.moneytalksnews.com/5-tips-for-making-your-car-last-to-200000-miles/

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The National Financial Educators Council was established to tackle the financial illiteracy epidemic. Resources are available for schools, churches, families and organizations that need tools to reduce financial illiteracy. Join the effort to share info and tools in your local community. Share your success stories on social media to let others know there is a way out of debt. Living with debt should not be option using tools for success. We encourage financial education throughout our nation for every stage of life.

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Consider investments that are beneficial and meet your personal financial goals. Here are a few popular investments that will make you loose a ton of money.

1. Cryptocurrency
2. A boat
3. Timeshares
4. An expensive college education
5. Your friend’s business idea
6. A home that puts you in debt
7. Agriculture
8. Entertainment production
9. Penny stocks

http://www.businessinsider.com/investments-lose-money-2018-7

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According to the U.S. Consumer Financial Protection Bureau (CFPB), three companies generate care insurance reports.  You can get a copy of your free report every 12 months. It is important to check your car insurance report to be aware of your policy information, claim information, vehicle information and fault indicator. The companies you should contact are:

• CLUE: (Comprehensive Loss Underwriting Exchange) collects and reports (for free) on auto insurance coverage and losses.
• Drivers History: Provides reports to its insurance clients containing information and data collected from open public sources and governmental agencies regarding driving violations issued to specific individuals for a fee.
• Insurance Information Exchange: (iiX) collects and reports (for free) motor vehicle records, including traffic violation data to insurance providers and prospective employers.

https://www.moneytalksnews.com/this-report-is-key-to-your-car-insurance-rates-heres-how-to-get-a-free-copy/

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