Tag Archives: it’s

5 Short Tips To Achieve Zero Credit Card Balance

June 11, 2019   Loan Tips

Credit card debt is not uncommon. The main reason for this is the undying craze for this glossy piece of plastic. Some are so in love with it that they have piled up multiple credit cards in their drawers! Now, it’s no wonder that you find it tough to manage your monthly payments.

It’s no use crying over spilled milk. If you think you’ve put yourself in grave debt, thanks to your habit of procrastination in paying bills, you need to gear up to save yourself! The first thing to do is taking a hard look at each of your bill on plastic money. Sum them up. Then, examine the interest rates on them. Determine how much approximately you pay every month. Next comes the toughest part – you need to stop using your credit card for some time.

It’d be wise to plan a household budget every month. This way, you’d know the amount of money you can spare for paying your bills. Make a list of all your expenses, right from big power bills to a small grocery store bill. If you find (to your horror) that your expenses exceed your income, there are two things you can do: cut down your expenses and see what things you can do. Do you really need to order large sized pizza twice a week? If you find this impossible, look for an alternate source of income fast.

You need to become disciplined in order to come out of your credit card debt. Besides this, you need to have a strong will to combat your debts. Do not succumb to the temptation of eating out often, subscribing to memberships, shopping just for the sake of it. These are things that you can do without, at least for now. The time required to pay off every single bill depends on the due amount and the amount of money you are able to spare every month in this regard.

Short Tips

*Keep just one credit card for use. If possible, don’t use any for the time being. *Follow your budget like the Bible. *Keep a diary of your expenses. This way, you can know what expenses are absolutely essential and what you can do without. You’ll be surprised to know how many dollars you waste on unnecessary spending. *No matter how tempting it looks, avoid taking cash advance. This will add in more interest and fee once you make the transaction. *Refrain from vacationing to exotic spots or doing lavish purchases until you pay off your complete credit card balance.

Once you’re done with paying your bills, be wiser to yourself in the future and use your cards carefully. If you’re in the struggling phase of your life, it’s better to get a debit card or pay by cash. This way, you’d be spending only what you have in the account. Remember, plastic money is quite tricky. Unless you’re on your guard, it can give you a great financial fall.

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Home Equity Loan Rates: Why They’re So Damn Low

March 16, 2019   Auto Loans

Who’s the “girl” that’s always there for you when things go sour for you with everyone else? The answer is not your life partner or your mother, but it’s your home – she’s been there for you no matter what happened, does a good job at keeping you safe and sound, as well as “comforting” you in times of trouble. Aside from acting as a place for you to crash and relax, what else can your house do for you? For those that don’t know, you can use it to pull off a home equity loan. What’s so good about this type of loan anyway? Well for starters, home equity loan rates are considered to be one of the lowest there is today, because of the loan collateral you’ll have to put up to apply for one.

And you know what that is, don’t you, old chum? That’s your house – there is a “condition” that needs to be met, in order to harvest the cheap home equity loan rates, naturally. These rates will be dependent on the equity of your house, and the lending companies will take it as one of the biggest factors for the determination of your worthiness. I’m sure that you understand what that means, if not, don’t break a sweat; let me explain. Equity is in some sense the “value” of your house. It’s computed by simple math, and the formula that’s used here is: how much of the house you’ve paid for so far, minus the amount you haven’t paid for yet.

It’s a simple formula, and yet there are many out there that don’t fully understand the whole thing. For every simpleton and dim-witted friend of mine out there, I’ll give an example, in hopes that you ALL understand it better. Here it is: you own a house, and so far you paid for $300,000 for it. But you still have a remainder of $100,000 to pay. To solve for the equity of your abode, you take $100,000 from $300,000, which gives you $200,000. Therefore, the equity of your house is 200 grand – I hope this I perfectly clear to all readers.

This isn’t the only determining factor when it comes down to knowing the home equity loan rates you’ll get, hell no. The knowledge you have on the entire matter and process on how all of this works will be your “best friend” when it comes to talking down the rates. In order to get the best rates possible, you’ll have to go to a number of different financial institutions dealing this type of service. Having good negotiation skills would also be an edge. There’s a lot to take into consideration before applying for this type of loan, like whether or not the value of your shack can get you approved for the loan in the first place.

Also, you’d most definitely want to be sure whether or not you’re actually capable of paying off the debt when you actually do get approved. This is one of the most important things you should think about. Having defaults with your payments can spell trouble for you. Ask other people that have taken out one for themselves – you might find one that has lost his home because of his incapability to pay.

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