Make Credit Card Debt Disappear, Even If You're Retired!

Retirement isn't supposed to be a debt riddled way of life. It should be a worry free, enjoyable time. Unfortunately, for many consumers debt has ruined their retirement. But what if I told you that, you could still pay your debts off? What if I told you that you could do it paying no more than your minimum payments right now? Well, you'd probably think I was trying to sell you something. Good news, I'm not, you can do it on your own! No need to pay that debt consolidation company $3,000 to do it for you. It's actually pretty simple, here's how:

Step #1: Make A List Of Your Debts: 

I've seen the smartest people I know make stupid mistakes because they forgot to prepare before doing something. When you do anything as important as working your way out of debt, it's vital that you get prepared. To do so, you will need to understand your debts. Start by making a list of all of your credit cards with a balance. Make sure to order your list from highest interest rate to lowest. Also, it should include the lender name, interest rate, balance, minimum payment, customer service phone number and pay to address for each of your credit card debts.

Step #2: Decide How To Go About Reducing Your Interest Rates: 

There are 2 different options that you can chose from for DIY interest rate reduction, first is interest rate negotiations and balance transfers, the second is financial hardship programs. Either of these options coupled with solid, aggressive payment plans, which I will go over later can prove to be a dream come true for you and your family. So, how do you decide? It takes a bit more than one paragraph so, I'm going to separate this step into sub-steps:

1. Check Your Debt To Income Ration – Add all of your credit card balances up. Do they add up to more than 15% of your annual income? This plays a crucial role in your decision because if your debts add up to more than 15% of your annual income, chances are, you will not qualify for enough of a credit line to transfer your balances via balance transfer credit cards. Also, you may be in the midst of a financial hardship.
2. Add Up All Of Your Minimum Payments – Can you afford to pay at least that amount of money every month? If not, you are dealing with a financial hardship and your lender has assistance for you.
3. Figure Out Your Credit Scores – If you have poor to fair credit scores, the truth is, you will not qualify for any balance transfer credit cards that are worth applying for. This however is often a sign of financial hardship!
4. Make Your Decision – If your debt to income ratio is too high, you can't afford to send at least your minimum payment comfortably and you have bad credit scores, financial hardship programs will be a better option for you than balance transfer credit cards. However, if you do have a low debt to income ratio, good credit scores and can afford to pay make your payments with a little extra comfortably, balance transfer credit cards are going to be your best option.

Step #3: Reduce Your Interest Rates: 

I have written several publications on both options for reducing your interest rates. If you decide on financial hardship programs, I suggest reading, “Understanding And Applying For Credit Card Hardship Programs”. If you decide that you would rather use balance transfer credit cards for interest rate reduction, please read “Do It Yourself Credit Card Debt Consolidation”.

Step #4: Decide On A Constant Payment: 

Have you ever noticed that as you pay your credit card bills, every month or two, the payments get a few cents or even a buck lower? This is because your minimum payment is based on your credit card balance. Therefore, if you can commit to sending no less than your minimum payments this month, you can commit to sending more than your minimum payments in the future. Every extra penny going to your principle balance saves you money in the long run. So, to decide on a constant payment, add all of your minimum payments together. Can you afford to send more than the total? If so, write down the total payment you can afford. Now, commit to sending no less than this every month until your debts are completely paid off. If you do so, you stand to save thousands of dollars in interest and years of time paying off your debts!

Step #5: Stack Your Debts: 

The debt stacking payment method is one that attacks your highest interest rate first. To do so, send minimum payments to all of your credit cards with the exception of the highest interest rate each month. All extra funds left within your constant payment should be directed to your highest interest rate. When your highest interest rate credit card is paid off, don't go back to making small payments and keeping the rest! Now, send all extra funds to your next highest. This aggressive payment method will really get you paid off fast!

My Conclusion

Even if you're retired, you don't have to live with credit card debts. If you follow this plan, you will be free in just a few years and finally be able to enjoy your retirement. I hope you've enjoyed my article and hope you come back to read more to come!

About The Author – Joshua Rodriguez

This article was written by Joshua Rodriguez, proud owner and founder of CNA Finance and avid personal finance author. This article was inspired by his most recent series, “Balance Transfer Credit Cards – A 7 Step Guide To Understanding This Option”. Join the discussion about this article, Joshua's series or any personal finance topic of your choice on Google+!

Get Emergency Cash with a Car Title Loan

Car Title Loan Reflection (Photo credit: Jeremy Brooks)

Unexpected expenses occur for most people at some time in their lives. While it is certainly the best policy to have a reserve of available funds in a savings account, a depressed economy and job loss can make that difficult. 

These circumstances may also result in a person losing their positive credit score, so a cash loan is not usually available when unexpected expenses arise. Fortunately, vehicle registration loans can provide the answer to this dilemma. 

LoanMart is a company that offers quick cash for loans commonly known as title loans. If you find yourself in immediate need of funds, you can access the equity in your vehicle through an automobile title loan. A vehicle title loan is different from a payday loan in that it is a long term loan. 

You will be required to make monthly payments just as if your car were financed. LoanMart will be listed as the lienholder on your title until your loan is completely paid off. LoanMart streamlines the approval of your loan, so your cash is likely available within 24 hours. 

Although LoanMart will do an internal check on your credit, the primary considerations are the condition of your vehicle and its value. You can apply online to get your documentation started. When you arrive at one of their convenient locations, a LoanMark representative will go over your documents with you and then inspect your vehicle. Your loan should be finalized within about 15 minutes, and you can leave with your check.

How the Car You Choose Affects The Kind of Finance Deal You Can Get

(Photo credit: Wikipedia)

Buying a second-hand car can be an excellent decision if you are trying to save a bit of money. However, one thing that you should remember if you want to buy a used car is that it may affect your financing options. Indeed, people are often surprised when they decide to buy a second-hand car only to find that they cannot get any access to financing. Here is a quick guide to the reasons behind this, and factors that you should consider when choosing a second-hand car if you want to get better access to finance. 

Used Cars Present a Greater Risk to Lenders

If you want to secure financing for a second-hand car, you may find that the lender has strict requirements about what they will lend you money for. For example, many lenders will not consider providing any financing for second-hand cars that have traveled over 100,000 miles, or for cars that are older than five years. 

The reason for this is that such loans are seen as higher risks by lenders. An old second-hand car, or one with many miles on it, is more likely to break down. If this happens, the person who borrowed the money may be more likely to stop paying back the loan. 

There is also the resale value of the car to consider. If you want to arrange a hire purchase agreement, the car is used as collateral. If the value of the car falls too low because it is too old, and you decide to stop paying for it, the lender will not be able to recoup their money. 

As a result, many lenders will not provide loans for buying second-hand cars. If they do agree to lend you the money, they will often insist on a much higher APR or a larger deposit. 

How to Choose a Used Car

It is not impossible to secure a good car financing deal when you buy a new car. However, to find the best deals, you should: 

• try to find a used car that is between six-months and five-years old. Although all lenders have their own specifications, you are more likely to get financing if the car is newer. 
• look for a car that has traveled less than 50,000 miles. The higher the mileage, the less chance you have of getting access to a good loan. 
• look for a make of car known for its reliability. If there is less chance that it will break down, a lender may be more likely to consider lending you money. 

In addition to the above, you may want to spend some time looking around for lenders that specialize in higher-risk loans. Alternatively, consider a different form of loan such as a secured loan. With this you will be able to use the money for any purpose, but remember that you risk losing your property if you fail to keep up with your payments. 

Find Financing for Your Used Car

Buying a used car can make a lot of sense if you need a vehicle but you cannot afford to buy a new one. However, take the above information into consideration to improve your chances of finding a suitable financing deal. Alternatively, do not completely rule out buying a new car. With the excellent financing deals that are available these days, and the fact that a new car will require less maintenance, it may still prove to be a better option in the long run. 

Neil Stelling has extensive experience in car sales and finance. In his spare time, he enjoys sharing his insights with others through blogging for a number of different websites. Click the car finance help link for more information.

Simple Ways to Invest In Real Estate

Real estate is one sector where you can expect your hard earned money to multiply. There are several ways you can do so. Experts are of the opinion that instead of locking your cash in bonds and stocks or keeping in banks, investing in real estate is always a wise decision as it gives you good returns. Let us see how and what your options are. 

• Getting a property at a lower price - Let us say it has come to your knowledge that a family in your neighborhood is trying to sell off their house as they are in dire need of cash. As such they are looking for buyers and they are also ready to dispose it off at a price which is way below the market value. In other words, the homeowner is planning to release the trapped equity in his house by selling it off. If you can approach the homeowner and offer to buy his house, you can be benefited in the long run. Also find out for how much the homeowner is planning to sell it off. 
• Buying property to let out - It has also been observed that there are many investors that buy property only to let it out so that they can get good returns every month. There is a common trend among homeowner and that is if they have a house for which they are paying mortgage, they prefer to put the property on rent so that the rent they earn can service the mortgage payments. In this way the financial burden is also reduced to a considerable extent. 
• Wait for property appreciation - There are many investors in real estate that buy property and wait for a certain period so that they can get good returns once the property appreciates. But in this case, you as an investor have to wait for the property appreciation. The trick to get the maximum return from this property is to wait for as long as you can. The longer you wait the better are your returns. Investing in property for a short time span and waiting for it to appreciate will put you at a loss. 
• Enhance the look of property - Let us say you have invested in property but there are few drawbacks of the same. You can make modification of the same and make it inhabitable. 

So, by following the above guidelines your real estate investment is sure to give you good returns as these are all tested methods.

ImageCredit:http://www.flickr.com/photos/realestateinvestinggurureview/6259652837/in/photostream/

8 Great Tips to Save Money in 2013

With high inflation rates, the current state of the economy and ever-increasing inflation rates, it is never easy to save money. With 2013 looking to be just as difficult as recent years, we look at 8 ways you can defy the odds and save money, from reviewing your mobile phone contract to saving energy at home. 

1 - Online Banking 

Setting up and regularly monitoring your online banking is a great way to keep on top of your finances and help you save money. You have the chance to reduce costs or perhaps cutting out expenses in certain areas just by reviewing what you are paying for. 

2 - Sell Your Items 

A great way to raise some quick cash is to sell your items, from books to DVDs to old phones. Whether you choose to cash in at a pawnbroker, a car boot sale or even online, there is money waiting to be made in your own home. 

3 - Compare Energy Providers 

As recommended by The Finance Legend - the internet now holds all the information you need so why not research who is your cheapest local energy provider to help you save. With energy rates increasing again in 2013, even a small saving would help you out in the long term. 

4 - Mobile Phone Contract 

Reviewing the amount of calls and texts you send each month against your contract details can help you save money, especially if you are using a lot less than you are paying for. On top of this, get quotes from a range of different network providers to find the best deal for you. 

5 - Low Cost Loans 

If you want to become more energy efficient around the home then consider taking out a low cost loan in order to help you carry out repairs and DIY. On top of the savings made from cutting energy costs you could also increase the value of your home. 

6 - Manage Your Food Shopping 

Food shopping is all about planning; make sure you know how much food you will need until your next big food shop. Cutting corners, takeaways and last minute runs to the corner shop will end up costing you much more than you expect. 

7 - Save Energy at Home 

Simple energy saving tips such as ensuring all taps and lights are switched off when not in use, turning down the thermostat by a few degrees and installing energy monitors can help you save money in the long-term. 

8 - Be Careful With Credit Cards 

With the high interest charges associated with credit cards, try to plan out the situations in which you would use this over your regular debit card. That way you limit your charges and effectively save money for the future. 

In summary, it is vital to plan and review your current and future expenses. Remember to work out where you could be saving money in ways such as using energy monitoring equipment around the home or getter a better contact for your phone. Good luck to everybody saving in 2013! 

Author Bio: Luke James writes for thefinancelegend.com. He has been writing about finance for years and enjoys holding seminars in which he gives out financial advice to others.

Currency Trading

Currency trading can be a fascinating and profitable field of investment for those who learn the market well and have access to brokers offering good guidance. 

Through education and experience the currency market, or "forex" (FX) for short, can offer unlimited investment opportunities that are often as good or better than the traditional stock market offers. 

What is Currency Trading?

The currency market continues to grow in size, even though it is already the world's largest investment market. There are literally trillions of dollars in average daily turnover, in contrast to the mere billions in the daily volume that occurs on the New York Stock Exchange. 

It is a 24-hour market (excepting weekends) consisting of three trading sessions that include the United States, Europe, and Asia. Unlike the stock market, in which investors deal in single stocks, currency trading is done in pairs, buying one while selling another. 

The trick is to make these exchanges profitably. Currency markets are influenced by the same factors as the stock market, such as supply and demand, interest rates, economic data, and world events. 

How to Succeed at Currency Trading

Just as with the stock exchange, in currency trading, there is no automatic formula for success. With currency trading, you need to follow the market carefully and thereby learn the way various currencies typically respond to specific events and economic and political developments. 

Just like you would want to know something about the businesses in which you are buying stock, so you would want to know the economic and political factors influencing a specific currency. Many investors find this monitoring of the world currency markets fascinating. 




The Importance of early guidance in the currency trading market is easy to learn, but the strategies for making money consistently require a combination of both experience and sound advice. 

The regular use of an experienced forex broker is highly recommended in the early stages of entering this market so that you can be warned away from typical and potentially expensive beginner's mistakes. 

Once you gain enough knowledge and experience, you can determine what investment strategy works best for you. Many investors find that currency trading is more interesting and exciting than the New York Stock Exchange, with as many or more opportunities to profit financially. 

It is certainly worth talking with a forex broker to help to determine whether the currency trading market is right for you.