That Will Hardley Support A Decent Retirement Lifestyle

Category: Finance.

Retiement Planning- Why and When to Start.

Despite the constant news coverage of impending doom, if not most, many Americans are still depending on their social security payments to support them through their retirement. When researching and discussing retirement planning and options, I get these questions frequently. The sad fact is that it simply isn t possible. Americans are living longer and longer. It is doubtful that Social Security by itself would be enough to get the average American through their twilight years. And, we are leading more active lives.

Gone are the days when retirees sat at home reading newspapers and playing cards every other afternoon. Retiremetn has a new meaning today! Today s retirees are traveling, learning to dance, taking classes, and trying new things that they were not able to experience while setting aside funds for the future and going about the business of raising their own families. This is the number one reason you should begin as early as possible to set aside funds for your retirement but make active plans to invest those funds to maximize the potential of limited funds. Now they are taking the time to do all these great things, butthese great activities and pastimes require funds in order to enjoy. You, can decide on, and only you your desired retiremetn lifestyle.

You also will need to establish a realistic investment strategy that will not leave you feeling strapped for cash month after month. Once you have that well in mind, you should take your plans, and concerns to, goals a financial planner and seek their advice on setting specific goals, better defining your plans, and making the most of your investment means. The important role that a good financial planner and good planning play in our financial futures cannot be overlooked. A good financial advisor will know of funds and strategies that we have never heard of. We need to take advantage of every opportunity to maximize our money. It makes sense to go to an expert when it concerns our family s future.

Just be certain that you hire a" Fee paid" financial planner who derives his or her income from the advice they give you rather than any commissions or fees that are related to your investments. We see experts when it comes to matters of law, and taxes, health- why on earth shouldn t we see an expert for our finances? You want to make sure that you planner is your friend and not trying to live off of investment recommendations that he/ she makes to you. Why is it so important to have a plan? You earned the monay and deserve all of the benefits and earnings from its investment. This is so that you won t end up needing a job in order to put food on your table once you ve reached retirement age. A recent U.

Census Bureau survey reported that nearly 65% of Americans reaching age 62 this year will have less than$ 25, 000 in net assets. The sad truth is that many of our retired citizens are finding themselves strapped for cash financially and barely able to make ends meet. That will hardley support a decent retirement lifestyle. If they are fortunate enough to have homes that are paid for, they often find the property taxes, the higher cost, medical bills of living, etc are putting so much presseure on retirement budgets that manyare having a rough time without some sort of assistance. It is best to begin making these plans as early as possible. All of the unprecedented price increases over the last two decades coupled with our improved longevity give us some very real reasons to make plans for your future retirement. If you begin the process a little later, It is not, however impossible to recover.

The sooner you begin making plans for your financial retirement the healthier your retirement options will be. The problem is that you will need to make some extra investments along the way or build some supplemental retirement income just to make up for lost time. The best way to go about this is to define your retirement goals early on, and then take, make written plans them to a financial advisor and get his or her input. With the advent of the Internet in our society, there are many new opportunities to earn some extra income to accelerate your retirement savings or to supplement your retirement income once you have retired. Investing smarter is much wiser than investing harder. Do not overlook these opportunities as they not only provided some needed income without having to leave you retirement nest, but they also provide some fun, exciting and rewarding activities for your retiremnt years.

We Are All Crossing Our Fingers That The Money Is On The Way

Category: Finance.

We are all crossing our fingers that the money is on the way. For some, it is because they will finally be able to buy that 52" HDTV without having to dip into their savings account.

Now, why are we all so excited? For others, it means their savings account will finally hold more than just a few bucks, since every dollar is being used to pay off bills. These spending ideas will both help the economy( that is the reason behind this all) and create a better lifestyle for you. For those of you who haven t already spent the money, here are a few things to think about that. The first spending idea for your tax rebate is to use it for home improvements. Materials like tile, and even metal, hardwood flooring siding last a lot longer than some cheaper materials. If you have the desire to make this money last without dumping it into your savings account, you can use it to update your home with materials that will last forever.

If you own an older home, you might think about updating your windows and appliances to those that are energy efficient. Not only will you be following the plan of jumpstarting our economy but you will feel great about" going green" as well. Go ahead and stock up on those new funky light bulbs as well. Spending your money on items that are energy efficient will lower your power and heating bills. But don t forget about your other options. This probably seems like a great idea now, doesn t it.

You might use your money to stock up on food that you use often. Be sure to properly store any extra food your buy to ensure it will last for a long time. There is nothing wrong with having a surplus of flour, and those canned, sugar foods you regularly use. If stocking up on food isn t your thing, you might consider spending the money on exercise equipment or even on a gym membership. If you buy vitamins, use your tax rebate to stock up for a year. Either choice is something that will last for more than just a few months.

The last idea for spending your tax rebate is not going to save you money on your power bill or help you go green, but you might consider it as well. Buy anything that you will need in the next 12 months. Take your tax rebate and go on a shopping spree. You could buy off season clothes for you kids or even stock up on make up and other items you or your spouse is constantly buying. Spend you money at a number of different local merchants to help our your local economy. You can even get most of your holiday shopping done this summer, just don t forget where you hide them when the holiday s roll around.

It is obvious that there are more than just our two options of savings or spending our tax rebate. Do your part as a citizen to boost our economy by not digging a hole in your back yard and burying your tax rebate. If you want to help out, spend this money on items or services that will last for a long time.

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What Is A Cash Advance - Finance Articles:

Although credit cards are generally used for purchasing goods in shops and online, they can also provide you with the same services as an ATM.

Consumer Spending, Increased Investment And A Hot Housing Market Have Led The UK Economy To Beat First Quarter Predictions - Finance Articles:

Consumer spending, increased investment and a hot housing market have led the UK economy to beat first quarter predictions. Fuelling the economy has been an growing housing market, where housing values continue to climb, despite recent rate hikes that the Bank of England had hoped would cool things off a bit.

There Could Be Some Exclusion Dates In The Policy Which You Will Need To Be Aware Of - Bernadine Sale about Finance:

There are many reasons why a person would set out on getting a health insurance policy. It may take time to find a job that provides health insurance as one of the perks.

You Have To Monitor The Day To Day Activities Of The Market

Category: Finance.

This the second part of the series on the discussion of principles of investment in the stock market. We previously discussed the first principle.

This is the continuation of a four part series. This involves realizing that the stock market is just another investment vehicle. In this article the next two principles will be discussed. You must realize that there are other vehicles of investments before you decide to invest in the stock market. Please visit my blog if you want to view the entire article. ) A roller coaster ride- It could be said that the biggest advantage in investing in the stock market is the huge profits that are made when the market goes up. Bearing in mind that the stock market is a roller coaster ride it is generally best to sell when the market goes up and buy when the market goes down. However this is also conversely true because huge losses can also be made when the market goes down.

When I started investing in the stock market about 2 years ago, the Philippine Stock exchange index was about 2000+ points. It rose steadily to its highest at 3800+ points by October 2007, but after a month dropped to 3600 points. It went up to 2500 points and then down to the 2000 level in the middle of 200Slowly and steadily it climbed up to the 3200 level during the 1st quarter of 200It then went down in a very short period of time during the final days of the 1st quarter of 200It steadily climbed to a high of 3700+ points in July 2007 but went down below 3000 points a month after. The point here is that it is really a roller coaster ride. This is a very vital question that each serious new investor should ask himself. Profits and losses are made during those up and down moments of the market. ) Know what type of investor you want to become- There are two types of stock market investors, long term investors and short term investors. This will ultimately affect whether you should buy or sell a certain stock.

Long term investors also do not have to worry about the gruesome day to day technical analysis that has to be monitored. If you are a long term investor, meaning that you hold your stocks for 5 to 10 years or more it means that you believe in the company that you are investing in and that you have extra money for other things because you can afford to put in your money for a long period of time. For as long as they believe in the fundamentals of the company there is no problem if the stock is held for a long period of time. You have to monitor the day to day activities of the market. But if you are a short term investor, that means you decide to cash in within a months time to 6 months time, then you should consider several things. Similair to the the long term investors, short term investors have to make sure that they can afford to put in their money for a long period of time.

One of the main reasons for doing that is because during the short period wherein you plan to invest and pull out your stocks, it is possible that you might incur losses. But such time is not as long as that of the long term investor. With this in mind you might decide to wait a while. I do have stocks whom I consider as short term but I consider most of the stocks I hold to be invested in the medium and long term period. When I started out I determined to be more of a long term investor.

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Heavy Equipment Leasing Has Many Benefits Including: Saving On Initial Capital - Finance Articles:

Heavy equipment leasing comes as a valuable financing alternative for business concerned with managing finances.

If They Get The Card Before You Do Then They Can Spend Money In Your Name - Finance Articles:

Credit card identity theft is on the rise, and if you are not careful you could become a victim and lose hundreds or even thousands of pounds.

Most Insurance Companies Would Not Cover Suicides At All - Willie Jewell about Finance:

This could be a very depressing article, but we cannot neglect the issue just because we find it uncomfortable to talk about.

A Cash Advance Is A Quick Way To Get Cash In A Hurry

Category: Finance.

The term cash advance refers to receiving an advance on a loan or a short- term loan until you receive your regular pay. This helps to tide you over until you get your regular pay in the case of emergency.

If you have a credit card or a line of credit, you can obtain a cash advance either at the bank or through an ATM. It gives you the cash or funds that you need right away. If you pay it off in full, you will not have to pay interest charges on a cash advance over a period of time. When you receive you statement, you can choose to repay the full cash advance, or you can just make the monthly payment stated. The term cash advance also refers to payday loans that you can get from certain businesses that specialize in short term loans. Due to the fact that they are only short term and unsecured, the interest rate charged on these cash advance is fairly high. These small loans generally do not exceed more than five hundred dollars and they must be repaid in full by the time you promise to pay.

Therefore, you should only use them if you absolutely have to. IF you have available credit on your credit card or line or credit, it is not a problem as no approval is necessary. A cash advance is a quick way to get cash in a hurry. IF you have to get a loan for a cash advance, you may have to wait a day for approval and depending on your credit record, you may get approval within minutes. The main thing to keep in mind is that you have repay it on time so you have to make sure that you will be able to afford the payment without leaving you short of funds again, this starting the cycle all over again.

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More About Credit Cards Reward Options - Mona Duwe's Finance blog:

A credit cards reward is basically a type of reward that is placed on your credit cards, which you are given either once you have the card for a certain amount of time without placing any significant outstanding debt on it, or when you have spent a certain amount of money. More About Credit Cards Reward Options.

Loans Taken For Education Are No Longer As Bad As They Once Used To Be - Finance Blog:

Loans taken for education are no longer as bad as they once used to be. If the student loan is nullified, then that entire amount can be excluded from the income.

When Buying A House With The Idea Of Selling It On Again Quickly At A Profit, The Interest Only, Again Mortgage May Be Very Useful - Finance Articles:

An interest only mortgage involves a repayment schedule where for a set period of time- usually five to 10 years- you only pay the interest.

This Is Known As A Credit Report

Category: Finance.

College is so much fun but can be really expensive without some sort of financial support for the students in terms of student loans. It s really hard for the students who take to living on their own to keep up.

You will have to pay for so many things among which are tuition and books. Student loans can be the last resort especially for those who have so many courses and are paying their bills at the same time. For a student getting his/ her first student loans may be quite demanding. Nothing is quite as easy as it seems, so don? t expect it to be very easy to get this loan the first time. The government supports the Federal student loans thereby enabling you to pay low interest rates. Students can get either subsidized rates or unsubsidized rates whenever they collect student loans. Without government backing, private student loans have to call for higher interest rates and your credit worthiness determine what your rates will be.

With subsidized student loans, there is no accrued interest as long as the student is still in school, except if someone else is paying for it. Be prepared for accumulated interest if yours is the unsubsidized interest rate even while you are still a student. The student has a better chance of coping with school work and expenses since there is no added interest. If the student doesn t pay this, the interest will most likely be added to the original amount, causing a definite increase but giving him more time to pay. A college scholarship service s application is also important. To get a federal loan, you have to fill out a FAFSA form.

No need to start getting hot and bothered over the cost because it is almost free. A credit record is actually an account of whatever credit you have had within the past 6 years. FAQs about getting a student loans: Exactly what is a credit record ? It shows the amounts of money you have borrowed and if you have neglected any monthly payments etc. The information on your report is gathered by credit reference agencies like Experian and Equifax. A credit record allows prospective loan providers to search through your financial history in order for them to make a decision as to whether to give you credit.

They incorporate facts and figures from public records( e. g. electoral roll data, CCJ s or County Court Judgments etc) and from loan providers as well as financial institutions: e. g. credit applications, credit accounts. A credit check is a kind of search carried out by a prospective loan company to assess how eligible you are for a loan. Exactly what is a credit check ? Loan providers will check your credit report to understand your present and previous financial obligations. Exactly what is a credit score ? Loan providers can then give you a credit rating to see whether the way that you run your money matters satisfies their requirements for borrowing. A Credit Score( Credit Rating) is a technique that potential loan providers use for evaluating the credit eligibility of a customer.

Loan providers will then use a mathematical rating process to assess the degree of risk implicated in lending to the prospective client. Loan providers will check the applicant s credit report, the information within their credit application and the amount of borrowing requested. Credit Reference Agencies: Experian is a major credit referencing agencies in the country. This is known as a credit report. Loan providers will refer to credit referencing agencies to consider the eligibility of a customer derived from their credit history. As with anyone, you may request a copy of your credit file from Experian so that you can see that all the information on it is proper and that your details aren t being used in some fraudulent way.

Equifax gathers all your credit data from various sources to create a report that details your credit history- i. e. your credit file. Equifax is a significant credit reference agencies. When you fill out an application for any kind of credit, loan providers will check your credit report to understand your credit history. The Equifax website has a great deal of practical instructions on making sensible credit choices and safeguarding yourself from scams. You may request a copy of your credit file anytime you like so that you can see that everything is in order.

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Business Cards Are Our First Marketing Tool That Reaches A Potential Client - Finance Blog:

Business cards are our first marketing tool that reaches a potential client. Color business cards are one of the least expensive and most effective marketing tools you can use to ensure that a prospect has your company or business name, address, e- mail, telephone and fax numbers, your name and anything else you think must be on it to make their selecting you an easy decision.

Fast Account Update - Finance Blog:

Offshore is becoming the banking trend nowadays.

Denial Is A Strong Incentive To Keep On Shopping - Annie Tobias's Finance blog:

It has been widely reported that spending in the USA is out of control! We are a society that requires everything immediately, with no real thought to how it we ll pay for it afterwards.

0 APR Credit Cards. Are Offered By Almost Every Major Credit Card Company

Category: Finance.

0 APR Credit Cards. are offered by almost every major Credit Card Company.

However they are not always bargains as sometimes these cards have high fees to make up for the lack of interest rate or they offer you the card without the zero percent APR as you don t qualify. 0 APR Credit Cards usually offer a period of about six months. They charge no interest for a specified length of time such as six months or a year. Common terms and conditions for these 0 APR credit cards include being required to use the card for purchases every month or having to spend a certain amount of money every month. The zero interest card company can also suddenly apply a high interest rate at their discretion if you miss one payment or even if you miss one payment to another credit card company or are late with any of your bills. If you fail to meet any of the terms or conditions of the zero percent agreement you may find your interest rate on the transferred balance serving to heights that are approach or that are even beyond 30% . They will also make many inquiries into your credit reports to make sure you are paying your bills on time so they can find an opportunity to charge you interest.

They also only really suit a user who does not need to take out cash advances as 0 APR Credit Cards are notorious for charging high fees for this. A zero interest rate credit card is only worth your while if you are able to meet the minimum present monthly card usage requirements without running up additional charges on the card and if you can pay off your transferee balance relatively quickly without ever once being late on a payment to the card issuer.

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Normally, Unfinished Starter Homes Leave The Upstairs Area Unfinished - Finance Blog:

Unfinished homes present a great way to save a lot of money and get yourself a new home in the process.

If This Happens A Child Will Never Learn To Be Responsible With His Credit Card - Letha Petermann's Finance blog:

In the multi- dimensional and fast paced world of today you need to inculcate knowledge about money management in children from a young age.

The Retailer Is Often So Happy Someone Else Is Interested In Buying The Damaged Material, They Become Unbigoted In Lowering The Price To Get Rid Of It - Finance:

Gabby Love of Cash Savings 2003 offers key shopping prescriptions designed to lay up the consumer money.

It Is So Convenient To Shop Online For Cheap Car Insurance Quotes

Category: Finance.

Looking for cheap California car insurance is as easy as going on line in search of quotes on insurance rates. Be sure to read through Part 2 of this article to find out what the next 5 tips for getting cheap car insurance rates is.

What really counts, is whether car, though insurance for woman drivers is cheap insurance based on their own needs. Making a thorough auto insurance comparison is a good practice if you want to get cheap car insurance rates, so do your homework and most likely you will save lots of money when you do. When shopping around for cheap car insurance online, make sure your search is a thorough one. However, there are certain steps that you can take to save money on your car insurance. While we may not be able to drive our teenagers every where they need to go for the rest of their lives, there are several ways we can get cheap car insurance for our teenagers. But there are also ways of saving a little bit more cash and ensuring yourself an extra cheap car insurance deal. So if you re in the market for cheap car insurance there s some ideas for you.

Understand that other factors such as the type of car you drive, years of driving experience, your credit history, geographic location, driving record, and marital status, occupation can affect your car insurance costs. Probably the best way to ensure cheaper car insurance is to maintain a clean driving record. If it s not your car or your insurance company that are responsible for an insurance premium that s higher than you d like, you might just find that cheaper auto insurance can be found in the type of insurance package you choose. Did you know that your good driving record could actually help you get a low cost car insurance? It s often suggested to get at least three car insurance quotes before making a decision, but that is more like the minimum actually. There are many ways through which you can find low cost car insurance.

All valid questions- although, if you have ever found yourself asking them( or a version of them) you should be downright scared, and concerned that you do not understand how your car insurance works. It is so convenient to shop online for cheap car insurance quotes.

In The Event That You Decide To Take Mortgage Refinancing And Have A Foreseeable Mortgage Payment You Would Need To Work Out Your Budget

Category: Finance.

If there s one reality that should be accepted by mortgage borrower that is the fact that mortgage interest rates nowadays are soaring unrelentingly. In the event that you decide to take mortgage refinancing and have a foreseeable mortgage payment you would need to work out your budget.

Consequently, the used to be lustrous Adjustable Rate Mortgages was already outshined by the conventional fixed interest loans for mortgage. Probably you may take the 30 year fixed interest rate mortgage loan, but it should be paired up with enough knowledge regarding mortgage refinancing so that you won t end up outspending. Knowledge is the key for you to be able to direct everything to a path that is lucrative for you. Be informed. Yes it popular and for some it is the best option to take, but are you guaranteed that it would function in the same way with you? The benefits.

The first step for you to take to be able to calculate the risk of what you are settling in, is to investigate the existing market and some accessible services which you can take advantage of. If you are a homeowner with an untarnished credit, then you might just be looking at a blessing thrown from heaven because you can experience having lower rates than what the others with bad credit has to endure. Refinancing may also be beneficial for you, as soon as you reach the moment known as the reassessment phase, terms and the, wherein the payment interest rates would most likely be altered at that point. Not to mention the fact that you get high appreciation for your property. The hybrid loans which are especially offered by mortgage refinancing gives you a fixed rate while choosing from an adjustable rate of the so called balloon payment which is characterized by balanced due. Simply evaluate the costs the loan where you are in as of the moment and a potential loan which you are taking into consideration for future action. This option may actually give you either gains or costs, but for you to be able to weigh which is the best option then you must learn to conduct a basic comparison.

Due to the fact that you can only estimate how much you are going to pay subject to you capacity to pay, you can only predict the length of time when you would be able to handle a new mortgage. How much to borrow. If you were able to sum up all the costs and it is lower than what you currently then you must refinance. Though it is the discretion of the lending agency to provide you with the amount of refinancing loan which you have applied for, but there are times when they would just give you less. In reality, the advantages offered by refinancing were really amazing, but for you to be able to maximize it you must also gauge the perfect timing when to settle for it. They are most likely to consider your capacity to pay them back, previous monetary responsibility, your credit history and the appraisal of your home.

Cyprus Property Market Has Being Said To Be One Of The Fastest Growing Property Markets In Europe

Category: Finance.

Cyprus s real estate and property market is booming dramatically due to the continuous work of construction companies who invest large amounts of funds towards infrastructure development.

Cyprus property market has being said to be one of the fastest growing property markets in Europe. With the aid of the European Union as well as foreign investments property prices have gone up dramatically. As reported by many agencies sales investment property is indeed one the of the most popular options exercised by local and foreign investors. The way it usually works is very similar to the US time share market, people spend their holidays in their apartment in Cyprus, once that period has passed they go back to their home country and rent it out once again. Due to it s radical growth, the tourism industry has made very feasible the process of buy to rent . As you can imagine, real estate companies are the ones organizing all of these special arrangements. Due to these advantages Cyprus has become an exclusive location for working, raising a family, retiring or investing.

One of the safest and friendliest destinations to buy a home is Cyprus, this country s legal system is organized in such a way that resembles UK s system which makes it easy for foreign buyers to obtain investment properties. According to this country s regulations a value added tax( VAT) on property related transactions is to become enforceable in 2008 which will unavoidably increase real estate market across the island. Banks and Financial institutions have made available easy loans to finance property purchase in Cyprus to foreigners in both foreign currency and Cyprus pounds. At the moment there are numerous options ranging from apartments to villas and luxury houses to choose from. Loans available cover up to 70% of the property value and can be negotiated to 80% -85% , if the construction is new. A typical housing property in Cyprus gives a yield of 8% , which in net after deduction of all charges comes out to be 5% and is sufficient to cover mortgage.

The repayment period ranges from 15 to 20 years, meaning you wont be caught in endless mortgage payments. As expected, European Union membership has made property ownership in Cyprus easy and rental returns are going strong with better prospects in future. Every foreign investor needs to go through this process, in order to purchase property in Cyprus which is not not a very restrictive method. Cyprus property can be acquired after completing and submitting a" permission to purchase" application with the Council of Ministers. An investor can purchase up to 4000 square meters of land plus an apartment or house which covers the needs of most property investors.

Every Life Insurance Quote Will Have Different Factors That Determine The Price

Category: Finance.

When deciding on a life insurance policy, it will be helpful to look in places that provide a life insurance quote.

Every life insurance company will be different, and have different payment options. It will help you in the long run because you are able to look and compare different rates and quotes. When comparing the different options, you should fist look at the life insurance quote to see if it is within your financial capabilities. Some of these factors will include whether or not it is a permanent life insurance or not, and if it is not, how long you want the term to be. Every life insurance quote will have different factors that determine the price. Also, depending on how much the life insurance policy is for will result in a different life insurance quote as well.

In the process of looking for the right life insurance policy, it is best to do some comparison shopping in order to see what policy will be the most beneficial for you and also for your beneficiaries. Each life insurance policy will be different and have different terms and payment options. Because everyone will have different needs and financial situations, it is important to find the best one for you, which might not always be the cheapest.

Almost All Kinds Of Student Loans Can Be Consolidated

Category: Finance.

Consolidating loans has become the most common way in which students are solving their educational indebtedness today. Let us objectively discuss what student loan consolidation is, and see in what manner it benefits students.

Student loan consolidations have become so common, that students do, in fact not pause to think what they are actually setting out to do. A student may have taken several federal and private loans in order to complete different courses in his/ her educational life. This is when the student contemplates consolidating the loans. When the student graduates, paying these loans back becomes a very tedious and burdensome process. Consolidation is the process of blending all the loans into a single loan, with a single rate of interest. After consolidating, the student will have to pay only one loan back, with just only payment to make every month. The rate of interest on a consolidated loan is generally lower than the rates of interest of all the original loans.

The biggest advantage is, that monthly payment would be significantly lesser than all the earlier payments combined. If statistics are any indication, then students must be saving 58% on their total loans by getting them consolidated. The rates of interest on student consolidated loans are the most important factors to be considered. The rate needs to be thought out in advance. Almost all kinds of student loans can be consolidated. The student should carefully scrutinize the market and lock in the rate when it is at the lowest to get the maximum benefits.

All federal loans such as federal Stafford loans, and federal Perkins, federal direct loans loans are eligible to be consolidated. With consolidation these rates would fall still further. Federal loans already have low rates of interest. But consolidation is not always a moneysaving process. Just if the rate is low on the consolidated loan, it does not mean that the total indebtedness of the student would decrease. There are several factors to be taken into account. There will be additional charges to pay when consolidating.

Also, consolidated loans are spread over longer periods of time than the original loans. The student must be vigilant that these charges don' t make the consolidated loan actually higher in amount than the total loans owed before. This would mean the student will end up paying more interest in the longer run. The process of consolidation is made simple enough for students to understand. Hence, the student must make a comparison of the unconsolidated and the consolidated loans before taking the step. There are also flexible options. Information about all the loans would be needed for the consolidation, such as the total amounts owed, the rates of interest, the periods of the loans, and the names and addresses of the providers of the loan.

Loans can be consolidated at any point of the student life or even later. This information is available on the National Student Loan Data System( NSLDS) if the student does have it offhand. In the first option, the student makes a particular payment each month, which includes both the principal and the interest. There are two repayment options on student consolidated loans. The interest rate is the lowest with this option. Here the rate of interest would not be fixed. In the other option, the repayment begins with a low amount and then increases gradually, commensurate with the student's growth in his/ her career.

Earlier payments would have only the interest, but later payments would have a major share of the principal to be paid back. These repayment terms could last from 10 to 30 years, depending on the total amount of student debt and the repayment plan selected. Consolidated loans give a dormancy period of two months, after which repayment needs to begin. It is necessary to obtain all information about the lender before going ahead with the consolidation process. The reduction in the rate of interest must be significant enough to ease the burden. The lender should be flexible enough in the repayment plans or again the student would be stuck with an unrealistic repayment pattern.

Customer service is another important part of the consolidation, since students are generally unaware or too busy to be bothered with loan aspects. The students who are enrolled for at least a halftime course are eligible. A little known aspect of student loan consolidation is that it can be got even when the student is in school.

Not Everything Fixed

There are so many types of credit cards around that it can be hard to work out which is the best. Fixed rate credit cards give you the peace of mind that your APR will remain the same for a given time, with all the benefits of a normal card.

However, one type of card that is quite popular is the fixed rate credit card. If you want to know more about fixed rate credit cards, then this article can help you. A fixed rate credit card is a card that has an APR that will remain constant for a certain period of time. What does' fixed' mean? Most fixed rate cards offer a fixed APR for around 3 to 5 years. Why get a fixed rate card?

This means that your interest payments will remain the same during this period. If you have a fixed income and cannot afford your repayments to rise, then getting a fixed rate card would be a good choice. This will help you to budget more effectively and know exactly what you will be paying each month. Even before you spend any credit you can work out what the charges will be over the next months and years. If you want the peace of mind that your repayments will not change, then a fixed rate card is a good idea. Although fixed rate cards are by no means expensive, they do generally have higher interest rates than variable rate cards. What are the costs involved?

The lender is taking a risk by offering a fixed rate card, because the base interest rate could rise and they could lose out. Not everything fixed. This is why the interest rates offered on fixed rate cards are on average 2- 3% more than regular cards. Although your APR will remain fixed for the next few years, it is important to remember the other charges involved in credit card billing. If interest rates rise you might find that your charges rise too, leaving you with a card that isn' t beneficial. The lender might not be able to change the APR, but they can always change the late payment fees or balance transfer charges. Variable rate cards.

These cards have an APR that can change, usually in line with the base interest rate changes. The alternative to fixed rate credit cards are variable rate cards. Although a card issuer is much less likely to reduce your interest if rates fall, they do have to remain competitive and so this could happen. Is a fixed card the answer? However, more likely is that your rates will rise year on year. Although fixed cards have the benefit of keeping your repayments at the same rate over the years, they do have higher interest and unless you really want to keep the interest fixed for budgetary reasons, you would be better to stick with a lower APR card and switch cards if the rate rises too much.