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Financial Tips Articles

Want to Finance a Car? Learn What You Need to Know Today

August 5, 2014 | Financial Tips | No Comments

Financing a car is something most people do, especially first-time buyers. After all, it can be quite difficult to come up with enough cash to buy a new car or even a quality used one out of pocket, even if you have a good job. While financing a car may be common, it isn’t always simple. Use this guide to help you understand how to make sure you’re getting a good deal that won’t be a bad bet in the long run.

Talk with your lender about financing specials. They may be able to direct you toward buying a certain type of vehicle to lower your rates. For example, many lenders offer lower rates if you buy a new car instead of a used car.

Don’t just assume the bank is going to give you the best deal. Sometimes you can get special rates through the dealership or even through a credit union if you have access. You might be surprised at how many options there are out there for financing a car if you just do a little research.

Consider taking a shorter loan term if you can afford it. Five year loans equal lower monthly payments, but you could pay thousands of dollars more in interest. A two year or three year loan could save you cash in the end.

Question the dealer about a zero-percent car finance deal. Some will offer this for short terms or for part of your loan. Paying the car off during the interest-free time will save you a lot of money.

Owning Freedom

August 3, 2014 | Financial Tips | No Comments

Owning a home is a dream come true. For starters, a person who buys a home is putting money toward something they own rather than paying out a sum that will not end up as equity. There are a few liberties that a homeowner has over a person who lives in an apartment. Getting hold of a mortgage broker Saskatoon can help the process of attaining a home. For instance, Sky Financial mortgage brokers Saskatoon and other companies can make the dream a reality.

Dogs can get separation anxiety when their owner leaves the home. Despite the wish to take a dog along on an errand, the weather simply won’t allow for this at times. Dogs do not understand this fact. They simply understand that the owner is leaving without them. Because of this anxiety, they can become destructive or they may bark incessantly. If a person lives in an apartment, this will quickly become an issue with other tenants. In a home, however, it is okay if a dog barks because it is less of a nuisance to others. It is not clear why some dogs become anxious and others don’t, but there are some techniques to taking care of the matter to help them adjust.

Parties are fun to have, but if a person lives in an apartment, parties can’t go past a certain time, the music can’t be too loud, people can’t talk too loud and children can’t run around and play. Living in an apartment drastically gets in the way of having a fun party. Being able to throw a party inside a house allows people to relax. Owning a home affords more liberties, but the best thing is having freedom.

Will Obamacare Help or Simply Create More Medical Debt?

December 22, 2013 | Financial Tips | No Comments

obamacareWhile Obama has passed the Patient Protection and Affordable Care Act (PPACA) or simply Obama care, it will only benefit a certain population while the rest of the country shoulders the burden.

First of all, everyone in America is going to have to buy some form of health insurance. This could be a difficult task for some people who are already struggle with their own debt, living from paycheck to paycheck. This will only add another fee in their very tight budget. With rent, food, and transportation costs rising, health insurance may be the last thing on their mind There may be ways to subsidize the cost, but middle-class earners who earn just above the threshold may be left behind and forced to pay extra.

Your children could be insured to till the age of 26 which is sounds fantastic, but it may not necessarily be enough. New graduates are already faced with a great challenge of finding work and many of them are underemployed, earning less than their education. According to CNN Money, the class of 2013 college graduates average about $35,200 in college debt. It may take them several months, or several years to find a steady paying job. Supporting themselves is already difficult enough and adding healthcare in their budget could take away money that would be used to pay off their college debt. Learn your options to lift the burden of medical debt.

Although it may be a monetary burden for some, it may create medical debt relief for others that have been barred and discriminated in the past. Under Obamacare, an insurer cannot drop you based on a previous year’s medical records. This will also open doors for people that could not qualify for health insurance in the past. It can also benefit people that have a lifetime maximum limit. With that removed, medical insurance could cover much more than before. Also, free preventative health care could cover hundreds of dollars’ worth of expenses that people normally pay out of pocket every year. Flu shots, preventive screenings, checkups, and others could be covered under this new Act.

But to pay for Obamacare, higher premiums, higher Medicare taxes, and smaller tax breaks could be foreseen in the near future. In order to have the Patient Protection and Affordable Care Act actually be “affordable”, the cost of it would be paid out of normal hardworking Americans. This solves the problem some for people with mounting medical debt, but others with little to no health problems will see this as a burden, leaving them a smaller paycheck every month. This is going to be a costly bill from a federal government already in financial trouble.

Are You Considering Getting an MBA Online?

September 27, 2013 | Financial Tips | No Comments

Have you ever considered applying for an MBA degree online? A large number of students choose to pursue an MBA to learn new skills and boost their professional life. It can take up to five years to earn this degree. There are many online schools and campus-based institutions that provide MBA programs at an affordable price. Students can learn from the comfort of their home, set their own schedule, and keep their full time job during school.

Are Online MBA Degrees Worth It?

Most people who enroll in online MBA programs are looking for convenience or flexibility in time management. These programs are especially attractive to mid-career professionals. Once you join these classes, you can study online without traveling from place to another. Students can complete course work, view lectures, and connect with their pears on the Internet. Distance learning MBA programs take 10 to 15 months to complete. Prices vary from one university to another. Earning this degree online can cost you anywhere from $7,000 to $119,000.

Students who enroll in online MBA programs can increase their earning potential and gain new skills without leaving the workforce. Internet-based universities provide a greater degree of flexibility than traditional schools. The technology used for online programs is quite advanced. You have access to online textbooks, educational tools, forums, chat boards, and interactive software.

This postgraduate degree is extremely popular among entrepreneurs and business professionals looking to advance in their careers and even lead multinational corporations. Many universities offer scholarships or educational assistance to their best students. In order to apply for an online MBA program, you need a Bachelor’s degree from an accredited college, a resume, two letters of recommendation, and a GMAT score of at least 550. The admission process differs from one school to the next. Some universities and colleges require work experience, while others may accept TOEFEL or GMAT scores instead.

How to Choose the Best MBA Program

Before applying for an online MBA program, do in-depth research and ask for references. If possible, choose a regionally accredited institution. Norwich University’s online MBA is trusted by thousands of professionals from all around the world. Students who enroll in this program can earn an MBA degree in as little as 24 months. They can choose a concentration in finance, organizational leadership, or project management. Relevant coursework, technical support, and professional journals are available to those who join this program.

Navigating the Financial Aid Process

April 20, 2012 | Education | Financial Tips | 2 Comments

If you are seeking financial aid for college, below is a helpful guide to help you understand the complicated financial assistance maze.

Navigating the financial aid system infographic by Southern New Hampshire University, SNHU.EDU
Brought to You by SNHU.EDU Online College Programs

Send Legally Binding Documents Online for Signatures

June 17, 2011 | Financial Tips | 1 Comment

If you need to send documents for signatures forget the old school method of sending by mail.  You need to get with new school and consider sending documents online for signatures.  You can do this within minutes, with basically 3 simple steps using RightSignature.com.  The process is as easy as sending an email.

Step 1:
Choose Document: Upload a PDF or Word file, select a Google Doc, or choose a document from your favorite web application (like FreshBooks).

Step 2:
Specify Recipients: Enter the name and email of each signer on the document. You may add cc’s as well.

Step 3:
Type Subject and Send: Describe the subject of the document, enter an optional message to your recipients, and click send.

When your recipients receive their email, they can quickly and easily review the document for signature.  Each party can sign the document online in seconds creating a legally binding agreement.  The signed document will look exactly like it was signed with pen and paper.  All the signers and cc’s immediately receive a copy.

Upon execution, each document is locked with a secure algorithm to provide a tamper-proof, defensible legal record.

RightSignature is an independent, unbiased third party managing the signature process. This gives your transaction the highest level of audit and verification capability, as well as ironclad defensibility.

All your documents are securely archived (stored) at RightSignature ensuring that you will never have to worry about misplacing a signed document.  If you have a lot of documents, you can easily search your archive by signer name, email address, subject, file name, form field text or tag.

RightSignature.com is offering a no obligation free trial of their service which requires no credit card.

To try it out visit RightSignature.com/Free-Trail.

May 7, 2010 | Education | Financial Tips | Edit | No Comments

A good measure to determine if your debt is getting out of control is determining what your debt-to-income (DTI) ratio is.  If your DTI ratio is close to or higher than 36% then you should be working to reduce it.  Lenders use DTI to determine if a potential customer can afford to take on extra debt.  The preferred maximum DTI varies among lenders, however, 36% is often used as the maximum.

So how do you determine your debt-to-income ratio?  You first have to determine what your monthly payments are to service your debt.  For example, let’s assume your monthly debt is as follows:

Car loan = $300
Mortgage = $1,100
Credit cards = $500
Other debts = $400
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How to Survive a Financial Disaster

April 7, 2011 | Financial Tips | Guest Post | No Comments

Even though you thought you were prepared, financial disaster struck. You were wiped out…all your money gone…your plans put on hold, perhaps indefinitely. What are you supposed to do now? How do you start over again? Your finances may not be that bad, but economic woes are commonplace nowadays. Who says you won’t be the next one to wake up and discover your bank account says zero? Chin up. There are ways to bounce back. Following are a few tips on how to survive a financial disaster.

It’s Only Money

Although this may not be what you want to hear, remember, it is only money. Sickness, accidents, storms, natural disasters, the death of a love one, these are all things that matter a whole lot more than money. Sure, money can help you live better, and we all need it to survive, but suffering a financial setback isn’t nearly as bad as suffering a physically debilitating trauma.

Emotional Rollercoaster

Even though losing a considerable portion of your financial worth, or all of it, is not necessarily life threatening, it could have a significant impact on your life. Depending on your personality and outlook on life, it could be a minor delay in your life’s plan or a disaster you’ll never recover from. The choice is really up to you. Some people decide to simply give up, while others prefer to make lemonade instead. Whichever course you choose, you’re bound to ride an emotional rollercoaster until you sort matters out.

Time for Action

Now that the philosophizing is over, it’s time to get down to doing something about your financial troubles. The first step is to accept what’s happened and take a close look at your financial situation. Upon further reflection, it may not be as bad as you thought. Even if it is an unmitigated disaster there are still things that can be done to help you recover.

Make a Plan

Take stock of your present situation. Reflect on what got you into the financial mess you’re currently in and make a conscience decision to not make the same mistakes. If you’ve drastically overspent then you know you’ll have to be a lot more careful in your spending. If you lost a bundle in the stock market, don’t think you’ll strike it rich by putting whatever you have left into a ‘sure thing.’ It’s like gambling–you may as well go to a casino and bet everything on black. No, if you hope to recover it’s imperative that you assess your situation and come up with a viable plan that involves hard work and intelligent decisions, not a stroke of good fortune.

Assemble Your Assets

In order to implement a plan to bounce back from an economic disaster it’s important to know what you have to work with. Make a list of your assets. This is what you’ll be using to begin your financial recovery. It’s essential that you know where you stand. If you owe a lot of money that must be factored in. if you ever hope to regain a good credit rating it’s imperative that you pay off your debts.

Determine Where You’re Going

A financial recovery plan must begin with an awareness of your starting point. There’s no sense lying to yourself; it won’t solve anything. Instead make peace with your situation and be honest in evaluating a possible recovery. Only after doing that can you take the next step, which is to decide where you would like to end up. Again it’s important to be honest with yourself. Choose a realistic goal, one that isn’t necessarily easy to attain, but a target that is truly obtainable. Going from dead broke to multimillionaire status overnight is something that is likely to only happen in a movie. Instead aim for a reasonable objective. Don’t stop dreaming, but be sensible.

S.M.A.R.T.

In setting a goal, it may be prudent to use the S.M.A.R.T. principle: Be Specific in choosing a goal. Decide on a way to Measure your progress. Make sure your goal is Attainable. Be Realistic in selecting a destination. Plan your recovery to happen in a Timely manner.

Fine-Tuning

Executing your carefully planned recovery is where you’ll need to be firm in your commitment, but not so firm that you can’t fine-tune the plan along the way. There are bound to be unexpected hurdles to overcome, but if you stick to your basic plan, you should ultimately reach your goal of financial recovery. This is the Land of Opportunity. If you believe it, you can achieve it. Never give up. The English language is full of platitudes, but even though they may sound trite, through hard work and dedication it is possible to recover from a financial disaster.

Guest post from Bailey Harris. Bailey writes for www.insurancequotes.org.  Find Bank CD rates at BankOnCIT.com.