Personal Finance Tips for You includes twenty-four topics covering an array of areas. The author states in the introduction “it is important to know as much as you can about managing your personal finances in these economic times.” Some of the areas covered are credit card traps, keeping on track to pay your bills, handling your checkbook, the price of gas, identity theft, catching up on retirement planning, what to do if you receive a lay off notice from your job, checking your credit report and talking about finances if you are planning to get married. These are just a few of the topics. There are many more.
The first topic covered is Don’t Get Caught Up in The Credit Card Trap, Stop Yourself Before That Happens. This is a very important chapter for everyone to read because it is so easy for this to happen in tough economic times. The author offers several excellent tips to help anyone who has this problem. It is clearly explained why it is so important for you to pay down the credit card debt.
Another important topic covered is How Do I Keep On Track to Pay My Bills on Time. The author gives the reader some tips on creating a budget and keeping track of your income and expenditures.
How do you survive the high cost of gas? We all know, not long ago the price of gas kept soaring. The author gives us many tips on how to save money by doing some simple things like consolidating trips just to name one of the pointers. There are many tips mentioned that I never thought of myself.
How do you establish your credit if you are young and just starting out on a job? Nocita Carter tells you exactly how to go about doing this.
Do you think you can save any money by just saving your change? This is one of the tips made by the author. I can personally vouch for this one because each day when I purchase an item, I take the change and add it to an old coffee can. After a few months, it gets quite full. I am always surprised by the amount of money I saved from my loose change.
I could go on and on with each chapter because there are so many good points in this book but I think you get the message and would get more out of Personal Finance Tips for You if you purchase it and read it yourself.
There are several aspects of this book that I really liked. It is written in language that is very easy to understand. It is not like some of the other books on finance that require you to have a dictionary by your side as you read. The book is very organized. Each chapter starts with an introduction to explain the topic. Once that is done, the author lists several tips to help the reader accomplish these tasks. Nocita Carter has written this book in a manner that makes the reader feel like they have a personal finance expert right there beside them. Personal Finance Tips For You is recommended for any age. It will be a valuable tool for younger people who are starting their first job. On the other hand, one is never too old to find something they did not know in this book. After reading this book, I learned quite a few tips to help me with my finances. You will find this an excellent resource guide to keep by your side at all times.
By: Nancy Eaton
Archive for February, 2010
How to Finance Investment Property – 4 Key Questions You Need to Ask Yourself!
February 25th, 2010
How to finance investment property is a question that anyone involved with making money from property has to ask themselves at some point. This article will help you to understand some things that you need to understand, and questions you need to keep in mind in order to finance investment property effectively and profitably.
What is the long term goal for the property?
This question is key because if you plan to renovate the property and sell it straight on then you will want to make sure that you have your finance set up in such a way so as not to incur large fees to pay off any loan you have taken out to buy the property. If you plan to rent it out and you are UK based then you will need a buy to let mortgage and you might want to have a fixed rate for a least a couple of years on the mortgage, especially if the interest rates are fluctuating at the time of purchase.
Do you have back up funding in place?
Ideally you want to have more than one lender as an option to fund your purchase; therefore, if the lender you are using gets cold feet or wants to back out for some reason, you have other options already prepared. This is particularly important in the current market place since we are in the midst of a global financial crisis and many lenders are either tightening their purse strings or filing for bankruptcy.
Are you credit worthy?
Even if you have bought investment property before, don’t take it for granted that you are credit worthy enough to buy it again. As a professional property investor or developer one of your main priorities should be to make sure that you have an impeccable credit history.
The strange thing is that this actually means having some debt. You could have 10 properties that you pay the mortgage for on time every month without fail, yet when you try to buy another one, they refuse you. There are many potential reasons for this, one of them being that sometimes lenders like to see you with some unsecured debt that you are paying off. If in any doubt as to your credit worthiness check with one of the top credit reference agencies to see what they have on file about you and to get some advice.
What are the tax implications of the purchase?
When thinking about how to finance investment property, you need to have a grasp on what the tax implications are for you personally to invest in the property you are considering buying. Sometimes it is better to buy property as an individual; sometimes it is better to buy as a company.
There is no hard and fast rule. A major consideration, is what are your plans for the future, if you plan to move abroad in five years for good, you might invest with a different strategy than someone who plans to live in their particular country for the rest of their life.
It is advisable to speak to a tax specialist about your plans for buying property and your long-term goals in life in general, so that you buy the right type of property in the right way. By doing this one thing you could be saving yourself hundreds of thousands of pounds in a relatively short period of time.
By: Carlton Johnson
Personal Finance Advice You Can Use
February 25th, 2010
The topic of personal finance is not a popular topic with most people. Most of us are struggling to get control over our personal finances and it is a losing battle. However, there is hope for even the most lost among us. There is plenty of personal finance advice out there and all it takes is reading some that advice and putting it to work to begin down the road to control over your personal financial situation.
The following are some great tips in a variety of areas of personal finance:
- Set spending limits. Give yourself an allowance to curb unnecessary spending throughout the week.
- Save for large expenses. Set a goal to save for a large expense, that way you know you can afford it and will not end up draining your bank account to make the purchase.
- Prioritize your spending. Learn to identify what you must have, what you need and what you want and prioritize in that order.
- Pay your bills on time. This eliminates late fees which can add up over time.
- Track your spending habits. This will help you identify wasteful spending so you can make a positive change.
- Look for savings everywhere. Shop at dollar stores, join discount clubs and use coupons.
- Always shop around before making a large purchase. Compare prices and look for the best deal.
- Save. No matter what start a savings plan. If the only thing you can do is save change then that is at least a start. If you can afford more then add it to your budget.
- Invest smartly. Know yourself when making investments. Learn about your investing personality so you feel comfortable with your investments.
- Stay on top of investments. Do not just hand your money over to a broker. Keep track of your investments and make sure you are always in loop about anything going on with them.
- Know when to get professional help. If you are in a financial crisis seek help. There are plenty of companies out there who will help you for free to get your finances back on track.
Your personal finances are important. Do not let them slip out of your control. Avoid living beyond your means and letting your finances run your life. When you get control over them you will find you are much happier and that you feel as if you can spend without worrying.
By: Joseph Then
