Save Thousands On Finance Charges – Without Marrying Your Banker

Let’s face it – currency isn’t green anymore. Currency is a slab of rectangular plastic decorated in goldfish, landscapes, paintings or whatever – sporting a magical black strip on the rear side. Plastic is convenient, but dangerous. However, there are instances when credit cards can prove to be necessary. Emergencies, delayed paydays, holidays – all can be aided with a good credit card.

So which ones are the good ones? How can you tell when a credit card offer will live up to the hype that it’s envelope screams at you? The biggest thing to look at is the APR. People used to think that the greater the number of benefits offered by a credit card – the better the credit card. This is simply not the case. When it comes down to it, the best benefit out there is to have low to zero finance charges and interest. A 0% APR credit card provides this benefit. So do credit card companies actually offer 0% APR?

When you receive a credit card offer in the mail, the first thing you should look for is the APR. Likely, it will be printed in bold and set in a huge font. The offer may read 0% annual percentage rate or APR – but look closer. Often the 0% offer is simply a lure to hook consumers and will only last about six months, and then the APR shoots up. Whether the credit card shoots up a lot or a little should be the determining factor on whether or not to sign up for the offered credit card.

Sometimes, even short-term 0% cards can be very helpful. In many instances, 0% APR is attractive to people who need to transfer a balance from a high interest card. Debt consolidation is a smart and common practice to help higher credit scores and manage debt effectively.

It’s hard to find negatives in 0% credit cards, but they can prove to be less beneficial for some. For those who pay off there credit cards every month, and do not have to worry about carrying a balance – a rewards card is the way to go.

All in all, there are three options. One, choose a credit card with the lowest APR possible. Two, go for the card that offers the best rewards – as long as you pay it off every month. Or three, just avoid added debt – because the absence of a credit card always will carry 0% APR.

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Finance Charges: They’re What?

As a borrower compares interest rates from one lender to another when making a decision about which mortgage company to use, the process can be a bit confusing, to say the least. However, the federal government, in all their wisdom, issued a directive for all consumer loans to disclose the Annual Percentage Rate, or APR, to help the borrower compare loan offerings.

The APR is defined as the cost of money borrowed expressed as an annual rate and takes into consideration not only the interest associated with the loan but additional fees needed to close the loan as well. For example, a 30 year mortgage loan at 4.00% on a $200,000 note results in a $954 monthly payment. If the lender also charged a $2,000 origination fee, the APR figure is 4.08. If the lender charged $4,000 in origination fees the APR is 4.17. The higher the lender charges the greater the disparity between the interest rate on the loan and the APR number.

But what are those fees used to help calculate the APR? They’re called finance charges. And all lenders have them.

Finance charges are fees charged directly by the lender or are charges for services required by the lender in order to issue a mortgage loan. A lender can have a $500 processing fee, a $400 underwriting fee and a $2,000 origination charge. Those fees, charged by the lender for lender-performed services are included in the finance charges.

A lender will require several reports before issuing a mortgage yet not perform those services themselves. For example, a credit report and an appraisal will be a required report but performed by third parties. Since the lender will require certain third party reports those third parties will provide the requested information but the borrower will ultimately be responsible for paying them.

The greater the amount of finance charges, the higher the APR number will be compared to the interest rate. Even if two lenders offer the same mortgage rate, they can have two different APR numbers. The lender with the lowest APR in this example will have lower closing costs compared to the other lender. This is how you compare loans from different lenders. Notice the APR and understand how it’s calculated.

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Take Charge of Your Finances

Taking charge of your finances needs to be a priority in every person’s life. You need to know how to manage your finances in order to be able to survive. Here are some ways to take charge of your finances:

The first thing that you need to do is to examine your bills and see how much money you will need to spend to cover your bills.

The second step is to put together a spreadsheet of your expenses. You need to see where your money is going so that you can create a proper budget. You should include the following information: credit card balances, credit limits, percentage rates, finance charges, due dates, and overall percentage of debt. You need to know how much debt you owe so that you can put together an action plan.

The third step is to put together a budget so that you can see where you can cut some things to save money. You can try cutting down your grocery bill, downgrading your cable service, eating out less, changing Internet service providers, bringing your lunch to work, changing insurance companies, and driving your car less.

The fourth step is to try investing more in your 401 k plan. You need to prepare for your retirement years in advance. Most employers match the contributions that their employees make to their 401 k accounts. You need to make sure that you can retire comfortably even if you are young right now.

The fifth step is to build up your savings account. It is important to save money in case of an emergency. You should have at least enough money to cover one full month’s worth of expenses in case you are laid off and cannot pay your bills. Savings accounts can be very beneficial if you can find a bank that has a good interest rate. You can earn a little bit of money every year just by letting your money sit in the bank for a while. Some banks will do automatic withdrawals from your account so that you can save money.

The sixth step is to consider purchasing savings bonds. Savings bonds can be a great long term investment especially if you have children. Many people give their children and grandchildren savings bonds as gifts so that they can help them down the road financially. Savings bonds are reasonably priced and will usually always increase in value over time.

The seventh step is to avoid using credit cards for all purchases. In order for you to take charge of your finances, you need to control your overall spending. Credit card companies charge their account users a lot of money in finance charges. You should try to pay cash or use a debit card for all the purchases that you make. This will save you hundreds of dollars a year and help you get out of credit card debt faster.

The eighth step is to consider investing in the stock market. The stock market has had its ups and downs but there are good buys out there. You should consider talking to a stock broker about opening up your own account so that you can invest. Investing in the stock market can be very beneficial to you financially.

The ninth step is to commit yourself to trying to avoid getting in a lot of debt. Many people get into debt because they want what everyone else has. Once you get into debt, it is hard to get out of debt. You need to keep your debt low so that you have a good credit history. Your credit history is pulled every time you get a line of credit, apply for a credit card, apply for a loan or mortgage, or apply for an apartment. Most financial institutions will deny you if you have a poor credit history. They will view you as a credit risk because having a lot of debt makes you look irresponsible.

The tenth step is to talk to a financial adviser. A financial adviser will help you find ways to properly invest your money so that you can make as much money as possible off of your investments.

Taking charge of your finances is something that everyone needs to do. If your finances are in disarray then you could fall behind on your monthly bill payments or get too deep in debt. Finance is a very serious subject; you have to be thorough and organized so that you do not miss anything. Hopefully, these tips will help you take charge of your finances.

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Business Insurance For Small Companies

Insurance policy is one of the most important parts of a business. Business description details included varies from one insurer to the other. There are plenty of reasons why business insurance services can be beneficial for the company. An online business insurance provider offers a comparison data. Below are stated the reasons why you must consider services from business insurance companies that will compare with other insurance providers in the area and offer real value with the company you choose.

Comparison Data Offered by Business Insurance Service:

When it comes to comparing the different types of insurance, you will need to find a company that does comparison data. They work as an independent insurance broker and help you connect with some of the better deals in market. If you are aiming at the best insurance policy, you need to have a comparative analysis that service providers offer.

Independent Brokers are not Associated with Any Company:
Part of the benefit while you go to an independent broker lies in the fact that they are not attached to any particular company. Individual brokers offer services based on your needs. They won’t force you with any particular company because they are associated with them. A broker can compare the different available companies and point to the right direction on the basis of what is right for your organization.

Business Insurance is a Must for all Companies:

Protecting your assets as well as businesses is vitally essential these days. Getting business insurance is one of the first things that should be in your mind while you are opening a company. Businesses today have realized importance of getting insurance. The insurances can protect people and employees that are working with you.

Online Business Insurance Companies Offer you Help Online:

Business insurance provider with an online website helps you get online quotes. You can sign up free and begin with free consultations online. This is one of the best ways to get started and look for the different insurance options available for you. You need not pay any money to use the insurance broker, they assist you to sign up for insurance as they are paid commission form the insurance companies.

Business insurance is not only about covering the ideas and creativity. It is about covering financial assets and employees, as discussed above that can get toppled by calamities. For example, you would want to have commercial insurance, if you have cars and are using them for making deliveries. You may end up losing a lot of property, if the automobile meets with an accident or incurs any sorts of damages. You can go bankrupt as the creditors and bills start piling up.

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How To Save Money On Car Insurance For Young Drivers? Read To Know

The cost of car insurance policy is determined by many factors typically examined by insurance companies online such as driver’s age, the location where he mostly drives a car on, the make and model of car, driver’s driving experience, etc. Insurance companies take into considerations these factors to figure out if driver will be a high risk. Usually, young drivers are considered risky as they are less likely to have good driving experience and skills. This is why it is challenging to qualify for cheap car insurance for young drivers. But, the interesting thing is that today many online insurance companies specialize in offering various discounts which you can earn to reduce your insurance cost or simply get cheap car insurance for young drivers. Before applying for insurance policy, it is advisable to get some knowledge about the same.

If you install security or safety devices in your car, you are less likely to get injured or your vehicle is less likely to get easily stolen or damaged. Many online insurance companies offer discounts for the same. Moreover, if you want to save money, you should think of joining a recognized driving course. This will improve your driving experience as well as skills and also could get you one more discount. One more way to get best affordable auto insurance is to drive less. If you drive less, the possibilities of accidents or similar circumstances leading to insurance claims will get reduced. Some insurance providers also offer discounts to students who score good grades. Besides, your driving location also affects insurance cost. Even make and model of car will affect what you will pay for insurance policy. Some vehicles are expensive to be insured while other cars are not too expensive.

Thus there are many aspects which you should work on to save money. But, most importantly, you need to locate insurance company which offers the most affordable auto insurance rate and also multiple discounts. One of the easiest ways to locate best insurance company in your local area which is willing to provide affordable car insurance with many discounts is to take free professional assistance of a reputable online car insurance service. These services which are closely connected with a huge online network of insurance providers that offer cheapest car insurance quotes will help you to get easy and quick access to best insurer.

The risk factor associated with you will affect your insurance cost significantly. So, it could be advisable to see if you can reduce the risk taken by insurance company by following some expert guidelines and improve your eligibility for affordable auto insurance rate. Get assisted by experienced car finance specialist to know what these guidelines are and how to get cheap car insurance for young drivers.

Log on to to get more information on young driver affordable car insurance in Canada. It offers various discount on premiums to lower down your monthly payments and helps you to save money. The interest rates are also so minimal compare to market rates. Visit us soon.

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Factors That Affect Life Insurance Coverage

Factors That Affect Life Insurance Coverage
Life insurance policy is the best way to overcome from unexpected risk factor in the future and it will protect you financially. Even a slightly lower premium can lead to major savings for the future.
The premium rate on life insurance policy mainly depends on a variety of factors. But for many people insurance concept is difficult to understand and it leads to many misconceptions. To avoid such misconceptions and confusions there are few factors that needs to be considered while opting for the life insurance policy and to determine the premium rates.
Here are the most common factors that affect life insurance coverage in determining the premium rates and risk coverage.
Age of the Policy Holder
It is the number one factor that needs to be considered in the life insurance coverage. If you are younger, then chances are more to pay premium rates for years and rates will be lesser. That’s why it is always recommended to buy insurance policy at young age. It doesn’t mean that you have to buy insurance policy in your college life, it is better to buy when you’re financially stable.
Gender of the Client
Gender is another significant factor need to be considered when evaluating the average life expectancy. In fact on average women are likely to live longer than men so women pay slightly less premium rates for longer years.
Medical Test
This factor is important in the underwriting process. Medical test mainly include height, weight, cholesterol, blood pressure and other key metrics. So purchase life insurance policy before searching for coverage to ensure competitive rates. Few insurance companies do offer policy without any medical test, but they cost higher premium rates.
Genetic History of the Family
The insurance advisor generally asks about the genetic history of the family and details about the family members those susceptible to genetic disease like diabetes, heart problems, etc. If this is the case then you have to pay the higher premium rates as you carry the genetic diseases.
Profession Plays an Important Role
If your profession is risky or challenging then chances are more to pay the higher premium rates. If your job is considered has a risky profession then you may be denied to get all benefits from your insurance policy. For instance: many insurance companies charge more if your occupation is relatively dangerous such as mining, drivers, steel engineers and many more.
Driving Record
This factor seems to be surprising, but many insurance companies keep track of policy holder driving record during the underwriting process. They will access for the department of motor vehicles records to find out any issues that you’ve run afoul of the traffic rules. So if you maintain clear records in the motor vehicle department then you will be benefitted by more favorable price.
The above mentioned factors will significantly affect on life insurance coverage and insurer should minimize the premium rates by minimizing the risk factors. However, it is always advisable to compare different company policies before buying the life insurance policy.

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