Showing posts with label Friday. Show all posts
Showing posts with label Friday. Show all posts
Friday, November 02, 2007
$$$ Financial Freedom Friday$$$-Family Financial Fitness
How does your family's financial picture look ? You don't know? Well click here to get started: click me
Friday, October 26, 2007
$$$ Financial Freedom Friday $$$
Money Sense: Got Debt?
Tips to finding a sound counselor
source
October 10, 2007--Managing credit and keeping debt to a minimum is a key element of our ability to transition from a struggling consumer to a successful wealth-builder. That's why I often recommend that people who are struggling with debt seek credit counseling before they do something out of desperation—such as file for bankruptcy—unnecessarily or prematurely. In fact, one of the major components of the recent changes in the bankruptcy law is that credit counseling is now required before a bankruptcy can be filed.
However, it is often difficult to tell the difference between legitimate, not-for-profit counseling agencies and those focused on taking advantage of your desperation. Some may want to simply separate you from your money without solving your debt problem at all. When looking for a credit counselor, you'll do well to watch out for the following red flags:
Educational materials are unavailable or only available for purchase.
The organization pushes debt management plans as your only option, without offering such services as budget counseling or debt management classes.
The agency's employees are paid based on how many people they get to buy or sign-up for services.
The counselors are not accredited or trained by an independent, outside organization.
The credit counselor refuses to help you because you can't afford to pay.
Go to the National Foundation for Credit Counseling Website to find a NFCC member agency in your area. You may also want to check out the U.S. Federal Trade Commission's Website. This site will help you find reputable credit counselors and debt management programs, as well as offers you more tips to avoid the scammers.
Tips to finding a sound counselor
source
October 10, 2007--Managing credit and keeping debt to a minimum is a key element of our ability to transition from a struggling consumer to a successful wealth-builder. That's why I often recommend that people who are struggling with debt seek credit counseling before they do something out of desperation—such as file for bankruptcy—unnecessarily or prematurely. In fact, one of the major components of the recent changes in the bankruptcy law is that credit counseling is now required before a bankruptcy can be filed.
However, it is often difficult to tell the difference between legitimate, not-for-profit counseling agencies and those focused on taking advantage of your desperation. Some may want to simply separate you from your money without solving your debt problem at all. When looking for a credit counselor, you'll do well to watch out for the following red flags:
Educational materials are unavailable or only available for purchase.
The organization pushes debt management plans as your only option, without offering such services as budget counseling or debt management classes.
The agency's employees are paid based on how many people they get to buy or sign-up for services.
The counselors are not accredited or trained by an independent, outside organization.
The credit counselor refuses to help you because you can't afford to pay.
Go to the National Foundation for Credit Counseling Website to find a NFCC member agency in your area. You may also want to check out the U.S. Federal Trade Commission's Website. This site will help you find reputable credit counselors and debt management programs, as well as offers you more tips to avoid the scammers.
$$$ Financial Freedom Friday $$$
You can always trust Grandpa Terry, for
good financial advice!
Grandpa Terry's Tip of the Week
Quick Money Tips #1 from Budget Stretcher
This is the 1st in a series of articles that provide helpful
money tips that you can use to stretch your budget.
1. Don't use your credit cards unless you intend to pay off the
balance at the end of the month.
2. Prepare a simple budget that you can stick to.
3. Organize your bills and receipts so that you can lay your
hands on anything you need within 60 seconds.
4. Use your checking account only to pay bills. Use cash for
everything else.
5. Control your impulse spending.
6. Don't spend more than you make each month including credit
card purchases.
7. Plan all of your purchases no matter how large or small.
8. Set your financial priorities keeping in mind you and your
family's survival.
9. If you are having money problems, find out how you got there
so you can make a plan to get out.
10. Set aside some money for a crisis fund you can use for
unplanned and unexpected expenses.
***********************************************************
Site of the Week
Frugal Families
http://www.frugal-families.com/
source
Friday, October 12, 2007
$$$ Financial Freedom Friday III $$$ NOOOOOOO, NOT THE BABIES!!
THE COLOR OF MONEY COLUMN: Child Identity Theftcredit: blackamericaweb.com
WASHINGTON -- Tara called into my XM radio show distressed about her debt. But unlike many people who complain about the bills they allowed to mount, much of her debt was not her fault. Someone, perhaps her grandmother, parents or a close relative, had stolen Tara's personal information and opened credit card accounts -- one when she was just 16. This young woman is part of a small but disturbing trend in identity theft, where crooks steal your personal information and open credit in your name.
One might think children would be spared from this crime since who in their right mind would extend credit to a kid.
The Federal Trade Commission reported that identity theft on behalf of victims under 18 rose from 6,512 in 2003 to 10,835 in 2006. In 2003, just 3 percent of identity theft victims were under 18. By last year, the figure had reached 5 percent. But keep in mind these figures only represent formal complaints.
*****
To quote radio talk show host Michael Baisden,
that's some 'fragga-knackle bull' right there!
stealing a child's identity?!
Most of the perpetrators are the parents!
I know of parents who messed their credit up, and then mesed their kids
credit up too. Kids don't find out about it until they get their credit pulled.
I feel if this crime is committed against childen (esp by parents) prosecute them to the fullest extent of the law!!
For information and safeguards regarding identity theft go here:
you betta recognize!!
Ivent
$$$ FINANCIAL FREEDOM FRIDAY $$$
It's that time again...it's Financial Freedom Friday!!
Here are tips of the day from the mouth of BlackEnterprise.com:
Cutting Costs
... savvy ways to save on necessities
--Few things in life are free, but some products and services can be bought at significantly discounted prices if you're willing to make a sacrifice or two.
Electronics Savings: Planning to buy a new television, computer, or other electronics? Many stores sell display models for 10% to 20% savings since the product is technically "used." Jim Babb, a spokesman for Richmond, Virginia-based Circuit City Stores Inc., says, "We call these products 'open box savings,' and the size of the discount depends on the product." While Circuit City's open box products all carry full manufacturers' warranties, other stores may have a different policy. So be sure to ask if you're forfeiting any benefits offered to customers who pay full price.
Personal Care Cutbacks: If you're the type who likes to pamper yourself with spa services, look for the nearest school for estheticians (also check out Spa Week on the previous page). Many cosmetology schools that teach such skills as hair, nail, and skincare offer services at a discount so that students have customers on whom they can hone their skills. For example, the Georgetown Aveda Lifestyle Salon & Spa in Washington, D.C., charges $120 for its Elemental Nature Facial for Radiant Skin, while the Aveda Institute, a training facility in Washington, D.C., charges $50 for the same service. However, be cautious about having chemical products applied such as hair relaxers, advises Torrence Wimbish, manager of Salon Plaza in Largo, Maryland. "Though students may have practiced on [mannequins], it's a different ball game when you actually have to put a chemical on a human," he says.
Thrifty Sites: Visit Websites such as www.consignmentshops.com to find consignment shops that offer savings on secondhand clothing and goods such as office furniture and household items. The merchandise is typically in good condition, though you should ask about and be comfortable with the return policy before making a purchase.
Here are tips of the day from the mouth of BlackEnterprise.com:
Cutting Costs
... savvy ways to save on necessities
--Few things in life are free, but some products and services can be bought at significantly discounted prices if you're willing to make a sacrifice or two.
Electronics Savings: Planning to buy a new television, computer, or other electronics? Many stores sell display models for 10% to 20% savings since the product is technically "used." Jim Babb, a spokesman for Richmond, Virginia-based Circuit City Stores Inc., says, "We call these products 'open box savings,' and the size of the discount depends on the product." While Circuit City's open box products all carry full manufacturers' warranties, other stores may have a different policy. So be sure to ask if you're forfeiting any benefits offered to customers who pay full price.
Personal Care Cutbacks: If you're the type who likes to pamper yourself with spa services, look for the nearest school for estheticians (also check out Spa Week on the previous page). Many cosmetology schools that teach such skills as hair, nail, and skincare offer services at a discount so that students have customers on whom they can hone their skills. For example, the Georgetown Aveda Lifestyle Salon & Spa in Washington, D.C., charges $120 for its Elemental Nature Facial for Radiant Skin, while the Aveda Institute, a training facility in Washington, D.C., charges $50 for the same service. However, be cautious about having chemical products applied such as hair relaxers, advises Torrence Wimbish, manager of Salon Plaza in Largo, Maryland. "Though students may have practiced on [mannequins], it's a different ball game when you actually have to put a chemical on a human," he says.
Thrifty Sites: Visit Websites such as www.consignmentshops.com to find consignment shops that offer savings on secondhand clothing and goods such as office furniture and household items. The merchandise is typically in good condition, though you should ask about and be comfortable with the return policy before making a purchase.
******
Utilizing these tips will help you to achieve most of your short term goals.
The first step after acknowledgement is implementation!
You better recognize...money is not going to magically allocate themselves to your bank account.
You better have a bank account!!
Oh Lawd, that's a whole other topic...(posting coming soon!)
Friday, October 05, 2007
$$$ Financial Freedom Friday $$$
Life After BankruptcyYou can rebuild your credit
By Kellie Tabron August 29, 2007
(source: blackenterprise.com)
--After her husband's death, Louise Tripplett found herself alone with four children, while bills poured in faster than she could pay them. "The bills amounted to more money than I had coming in," she explains. Tripplett decided filing for bankruptcy was the best option.She's not alone.
According to the Administrative Office of the U.S. Courts, nearly 1.5 million Americans filed for bankruptcy in the 12 months preceding June 2006. Cynthia L.Gibson, an attorney in California, says the decision is a serious one. "Once you file for bankruptcy, it stays on your credit record for 10 years."You can, however, start on the road to financial recovery today. Start monitoring your credit record regularly.
You are entitled to order a free copy of your credit report every year from the three major reporting agencies: Experian, Equifax, and TransUnion. Go to http://www.annualcreditreport.com/.
Howard Dvorkin, founder of Consolidated Credit Counseling Services Inc. in Florida (www.consolidatedcredit.org), recommends writing a letter to each credit bureau if you find inaccuracies. Include your full legal name, address, birth date, and Social Security number, and make photocopies of any documentation. "If the credit bureau can't confirm within 30 days whether or not the information is accurate, it must be removed," he says.
Our experts say that your most important financial tool now is discipline. Tamara Haskins, a financial adviser for Merrill Lynch in Edison, New Jersey, says, "Consider meeting with a good financial planner to help you set goals and create a road map to reach them.
Keeping a monthly budget and comparing it to your actual spending will also help keep you on track."Tripplett agrees, "You don't want to become a person who files bankruptcy every 10 years just because you can. Be stable and stay within your limits. Reestablish your credit by paying on time and in full every month.
"Want to rebuild your credit after bankruptcy? Try secured cards.
Filing for bankruptcy can affect your ability to get credit cards, buy a home, and find employment. Secured credit cards are an excellent way to begin rebuilding your credit. Secured credit cards require you to maintain a savings account as security for a credit line. Deposits can start as low as $100. Credit lines, which can increase after establishing a good payment record, are typically 50% to 100% of your deposit.
Keep these facts in mind:
The Federal Trade Commission says to avoid surprises by asking about a card's total fees before you apply and verifying whether they will be refunded if your application is denied. Confirm that the credit card issuer reports to major credit bureaus; otherwise, having the card can't help you rebuild your credit.Find information on secured credit cards at Websites such as http://www.creditcards.com/.
Consistently pay on time and stay within your credit limit and on average, after about a year, you'll begin increasing your credit score and eventually qualify for an unsecured card.
*******************
By Kellie Tabron August 29, 2007
(source: blackenterprise.com)
--After her husband's death, Louise Tripplett found herself alone with four children, while bills poured in faster than she could pay them. "The bills amounted to more money than I had coming in," she explains. Tripplett decided filing for bankruptcy was the best option.She's not alone.
According to the Administrative Office of the U.S. Courts, nearly 1.5 million Americans filed for bankruptcy in the 12 months preceding June 2006. Cynthia L.Gibson, an attorney in California, says the decision is a serious one. "Once you file for bankruptcy, it stays on your credit record for 10 years."You can, however, start on the road to financial recovery today. Start monitoring your credit record regularly.
You are entitled to order a free copy of your credit report every year from the three major reporting agencies: Experian, Equifax, and TransUnion. Go to http://www.annualcreditreport.com/.
Howard Dvorkin, founder of Consolidated Credit Counseling Services Inc. in Florida (www.consolidatedcredit.org), recommends writing a letter to each credit bureau if you find inaccuracies. Include your full legal name, address, birth date, and Social Security number, and make photocopies of any documentation. "If the credit bureau can't confirm within 30 days whether or not the information is accurate, it must be removed," he says.
- Within five days of making a correction, the credit-reporting agency must send you:
- Your corrected credit report
- Written explanation of its investigation process and the contacted creditor
A notice of your right to have the credit bureau send your corrected credit report to employers reviewing it in the past two years and anyone else reviewing it in the past six months.
Our experts say that your most important financial tool now is discipline. Tamara Haskins, a financial adviser for Merrill Lynch in Edison, New Jersey, says, "Consider meeting with a good financial planner to help you set goals and create a road map to reach them.
Keeping a monthly budget and comparing it to your actual spending will also help keep you on track."Tripplett agrees, "You don't want to become a person who files bankruptcy every 10 years just because you can. Be stable and stay within your limits. Reestablish your credit by paying on time and in full every month.
"Want to rebuild your credit after bankruptcy? Try secured cards.
Filing for bankruptcy can affect your ability to get credit cards, buy a home, and find employment. Secured credit cards are an excellent way to begin rebuilding your credit. Secured credit cards require you to maintain a savings account as security for a credit line. Deposits can start as low as $100. Credit lines, which can increase after establishing a good payment record, are typically 50% to 100% of your deposit.
Keep these facts in mind:
- Miss payments on your account and your deposit funds will be used to cover what you owe.
- Annual fees and higher interest rates than unsecured cards are common as are application and processing fees.
The Federal Trade Commission says to avoid surprises by asking about a card's total fees before you apply and verifying whether they will be refunded if your application is denied. Confirm that the credit card issuer reports to major credit bureaus; otherwise, having the card can't help you rebuild your credit.Find information on secured credit cards at Websites such as http://www.creditcards.com/.
Consistently pay on time and stay within your credit limit and on average, after about a year, you'll begin increasing your credit score and eventually qualify for an unsecured card.
*******************
Family, it's time to get our finances together! Some of us will be facing retirement soon, and at my workplace-people don't prepare for retirement til approx 2 years before their planned escape. Because of poor planning they can't leave because there's not enough money to sustain them. It's sad and it's reality.
You better recognize-it doesn't have to be YOUR REALITY.
Set a small goal for yourself for your financial health. How about simply, WRITING out a budget?? And build from there :)
In the right sidebar of this page there are several money links, a get out of debt link, and a credit report link. Those are permanent links available to you 24 hours a day. Check them out!
Ivent
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