Archive for the ‘Financial Team’ Category

Do you want to pay off your debts now or later?

March 30th, 2011 admin No Comments »

If you’re in the dilemma and are having trouble deciding whether or not you must pay off your debts now or later, try to prioritize your debts first. You must try to make your debt payments first depending upon their importance and then try to do other things to your finances. If you have secured debts such as mortgage or auto loans, you must try to repay them in the stipulated time and not before time as you may have to pay penalty. You may take help of the debt pay off calculator when you’re making the payments.

Debts are usually better off when they are paid. So, if you can manage to pay them off as fast as possible, you can start saving faster. But there are times when you need to save for the future such as your retirement plans (401k, Roth IRA, and IRA). You Read more…

Tags: Debt Pay Off Calculator, Pay Off Your Debts

Moving Van Rental vs. Mini Van to Save on Estimated Moving Costs

March 27th, 2011 Emily Young No Comments »

As I alluded to a few weeks back, I just finished my move back to New Mexico. Seen by some in my family as a clear sign of my mental degradation, my short-lived trial run back in California didn’t last too long and I feel as though I am back where I am supposed to be. But that’s not really what I wanted to talk about here at My Two Dollars; rather, I wanted to take a look at the cost of moving a small amount of material goods in the most efficient and cost-effective way. So here’s a little backstory on my move, how I did it, and how much money it cost me.

Because I knew I wanted to move back to NM, I have been living out here for weeks at a time looking for a place to live, which I have now secured for myself. And so for a while, I had a place in NM and a place in CA. Talk

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What are No Credit Check Personal Loans?

March 20th, 2011 Christina Hall No Comments »

Everyone experiences a financial emergency at least once in their lives, but not everyone is fully prepared to handle one. Whether it’s an unavoidable car repair or costly trip to the hospital, an unexpected cash need can sometimes require a personal loan to cover expenses until payday. However, what do you do if your credit score isn’t very good and it’s hard to secure a personal line of credit? You’ll likely need a no credit check personal loan to obtain the emergency cash required.

Generally, obtaining a personal loan requires the borrower to submit to a credit check. This allows the lender to judge the amount of risk involved in lending money to an individual. Someone with poor credit presents a high risk of default, so a lender will probably not extend a loan in this circumstance. A no cr

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Home Inspection Tips & Checklist – What’s Included?

March 19th, 2011 Emily Young No Comments »

So, are you selling your own home or in the market to buy a new home for yourself? Guess what — you’re going to need a home inspection done by a qualified professional prior to completing the sale or purchase. Because purchasing a home is (probably) the largest single purchase you will make in your life, it’s important to get your potential new asset inspected for any problems before you sign on the dotted line. After all, there is nothing worse than finding any huge problems after you have taken ownership that are then your responsibility to take care of! While home inspections do vary in quality and requirements, there are some aspects that will usually be the same no matter where you live or whom you decide to work with, and this is because there are guidelines put forth by the National Association of Home Inspectors which good home inspectors take care to follow when doing their job. Let’s

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Tags: Home Inspection, Inspection

The REAL Cost Of Life Insurance: A Story From The Trenches

March 19th, 2011 Christina Hall No Comments »

Back several years ago while working in financial services I ran into a couple that was interested in buying life insurance.  They were both in their mid 30s, had a few kids, and a pile of debt.  Because of this they decided that they should have some life insurance just incase the unthinkable happened.

So I drew up a few illustrations for them and found a couple of 30 year term policies with $100,000 in coverage for them that ran less than $20 each a month.  I figured based on their current situation that this was all they would be able to afford.

When the time came for them to make a decision they decide the cost of life insurance was to much for them and that they just couldnt afford it right now.  I explained to them that they didnt want to wait on something like this, but against my better judgement they decided not to do it.

A year later I got the news that she a severe stroke.  I couldnt believe it, if I had only tried a bit harder they could have had the coverage.  Thankfully though she didnt die but the chances of her getting life insurace are slim to none unless she can qualify for high risk life insurance.

The Cost Of Waiting

Every time I hear someone say, I dont need life insurance because its to expensive, I share that story with them and tell them, is it really worth the risk of waiting?

Truth is it isnt worth waiting, in fact the younger you buy a life insurance policy the cheaper it can be.  Below is a 30 year term with a $100,000 worth of coverage for a 20 year old male.

As you can tell the cost for a 20 year old is very cheap, starting out at around $14 a month.  However look what happens when you wait 10 years.

By waiting till age 30 you can still get a policy for around $15 a month providing you in good health and dont smoke. However

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Tags: Insurance, Life Insurance

Consumer Spending on the Rise: Where’s Our Money Going?

March 19th, 2011 Emily Young No Comments »

Each month, economists, market research groups, credit analysts and the Federal Reserve track data on consumer spending. The data is in for January and some of February, and the results are interesting. The analysts at Credit-Land expected credit accounts to increase by $3.9 billion in January, but the Credit-Land industry outlook reports that credit accounts are up by $5.9 billion for the month of January. The greater than expected increase indicates that consumer sentiments about the economy may be changing for the better.

Purchase Items

The items that consumers are spending their money on may just surprise you. Consumers are establishing credit accounts for big-ticket items such as vacations, cars and boats, which increased by $9.26 billion in January 2011.

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Tags: Consumer Spending, Spending

Take Advantage of an Empty Nest to Built Your Retirement Fund

March 2nd, 2011 Emily Young No Comments »

Most parents agree that saving money and raising kids are hard goals to meet simultaneously. Money that might otherwise go toward retirement or paying down the mortgage is instead spent on clothes, extra-curricular activities and higher education for the children. Once kids are out of the house, parents have an opportunity to get their savings back on track, especially their retirement savings.

Unfortunately, few parents take advantage of their increased discretionary ie in that way. According to a recent study by Boston College, “empty-nesters” increase their spending by an average of 51 percent in the first few years after kids leave the house. Though some eventually reign in their spending and begin saving more, many get used to the higher standard of living and never return to lower spending levels. Thi

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Tags: Retirement, Retirement Fund

Did The Credit Card Bill of Rights Get It Right?

March 2nd, 2011 Christina Hall No Comments »

Signed into law over a year ago, the credit card bill of rights was touted as protection against practices and fees imposed by credit card issuers on to consumers and which have long been considered arbitrary. Just to refresh your memory, banks must practice the following:

- No more arbitrary rate increases: cardholders must be notified prior to such a move.

- Periodic reviews and reduction of a cardholder’s annual percentage rate (APR) where it is warranted or requested: reviews should take place every 6 months.

- Allocate payments fairly: payments made should go towards balances accruing higher interest.

- No universal default: a cardholder cannot be penalized on Card B should he/she default on Card A.

- No double-cycle billing: banks cannot charge late fees on payment that has been made for a previous billing cycle.

- No phone-payment surcharge

- Elimination of due date gimmicks: payment made by 5 p.m. E

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Tags: Card Bill, Credit Card, Credit Card Bill, Right
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