Sure Ways on How to Save Thousands from Your Car Loan

Buying a new car is not as easy as buying new pair of pants. You have to save up, and investing in a bad car is much more severe than investing in a bad pair of pants. Thus, you should take time to find the best deal present in the market because the money you save will be well worth your time.

There are several factors to look into when buying a new car. According to Forbes, there are at least five reasons why buying a new car is a good idea. Low interest rates, high trade-in values, generous leasing deals, competitive pricing, and improved products are just some of the benefits, considering the current consumers’ market and financing.

The idea of buying a new car can easily overwhelm or intimidate some people because of the expensive price tag. Although this is quite natural in the auto market, consumers should not be anxious in buying a new vehicle because they can always create ways that could help them lessen their financial obligations.

According to one aggregator of financial rate information, consumers who want to get their hands on a new car can have a refreshing experience by using the internet for finding the best car deals applicable to the consumers’ financial situation and goals. Consumers can negotiate price and financing with few clicks on their computer or few swipes and touches on their smart phone or tablet. Since most of internet department salespeople get their pay and bonuses through volume rather than commissions, they can cut the best price to move cars for the benefit of the consumer. By doing this, the consumer gets savings anywhere between $1,000 and $2,000.

Consumers can also save on their auto purchase by taking advantage of the tight competition in the car industry. If you have decided what model and brand to buy, you can start communicating with different car dealers to get price quotes, while letting them know that you are also contacting other dealers. By doing this, you are making the competition work to your advantage. Dealers will offer you their best prices.

Consumers who are planning to buy a new car should know beforehand the financial obligations they will encounter when the purchase is made. Thus, it is important to have a solid grasp on monthly payments in order to set the budget straight and to avoid unnecessary expenses along the way. Consumers can also turn to an auto payment calculator to know how much they have to pay for monthly payments and the purchase price. Also, it is wise to know how much interest you can save by having a higher monthly loan payment. There are several websites that offer payoff calculators, like the one featured at www.carloancalculator.org/payoff.php. All these calculators have one aim: to help consumers save in their car purchase.

Saving up for a new vehicle can be a complex move on the part of inexperienced consumers, but by following certain steps and procedures, they will have the opportunity to save more and have a good car purchase experience.

Financial Advice vs. Financial Coaching: Which is Best for You?

There is a distinct difference between a financial coach and a financial advisor. Sure, there titles are similar and they both purportedly help to sort out financial matters, but they are most definitely not the same. Without knowing the difference between one and the other, how can anyone be expected to make an informed decision on which service to seek? Well, they can’t. 

Financial Advisor

A financial advisor is a person who, in exchange for compensation, provides knowledgeable input into how a customer should handle their personal finances. Financial advisors must maintain a Series 65 license in order to offer their services to the public. They have a myriad of different uses, including the provision of income tax advice, investment management, insurance planning and even estate planning.

Really, the relationship between a financial advisor and his clients is that of a parent and child. The advisor is the parent, and the client is the child who follows his parent’s perceived higher knowledge. 

Financial Coach

A financial coach, at his core, is very similar to the financial advisor. They serve many of the same purposes by helping those who hire them with all kinds of money matters. However, those who seek out the aid of a financial coach often need assistance in debt relief, learning to save, budgeting and in how to spend their money well.

The coach/client relationship is really what sets the financial advisor and financial coach apart. The financial advisor is hired to manage a client’s money. The financial coach is hired to teach the client how to handle their own money effectively. As a result, the relationship between a coach and his client is one of a parent and child initially, but as in reality, the child eventually grows up to be a responsible adult.

Which is the Right Choice?

Whether a person should seek the aid of a financial advisor a financial coach is very personal. It all depends on what that person wants to eventually gain from the services rendered to them.

A person who really doesn’t want to be bothered with the mundane aspects of their money, such as budgeting, taxes and investing, from day to day might really prefer an advisor over a coach. There’s nothing wrong with that in the least. It is imperative, however, to choose a financial advisor wisely. Their goal and the client’s goal should be the same; to appropriately manage and grow the client’s money.

On the other hand, if a client really wants to learn how to handle their own money and eventually take the reins, a financial coach is the way to go. There should be a process where the coach learns all about the client's wants, needs and finances. Then a three-part program should be introduced. First, it must be decided precisely what should be done with the client’s money. Then, of course, there must be a game plan on how to make that happen. Finally, there needs to be a specified order put to the defined tasks.

A client needs to be very careful in choosing a financial coach who is out to truly help them. Avoid those who would simply put customers into a debt management system, and look for coaches who really want to teach the ways of money.

Choosing between a financial coach and advisor is highly personal. Both options should be thoroughly considered, and then potential coaches or advisors should come at the highest of recommendations before proceeding.

This article is brought to you by Cambist.

Tips for Financing Your Funeral Planning

Your own funeral is not something you want to spend a lot of time thinking about. However, it is important to think about it long enough to make plans so that you can be sure you have the arrangements you would like and so that you don’t burden your family with huge expenses or significantly reduce the estate you leave behind.

Funeral arrangements can be expensive, so it’s important to plan no for how you will finance it and how to make choices to reduce the cost. Here are a few tips for financing your funeral planning:

Purchase Life Insurance

An easy way to get the money needed for your funeral costs is to purchase a life insurance policy. You won’t have your funeral planned, but you will get it paid for by the policy. You can get a small policy of only $10,000, which will keep your premiums low but will offer enough to pay for your funeral costs. Make sure you keep the policy up-to-date, changing the beneficiary as needed. You don’t want the money to get tied up if there is a dispute because the beneficiary you had named is passed on.

Comparison Shop

Not all funeral packages cost the same, and you can save a significant amount of money by simply shopping around. You may find that one cemetery offers a more affordable plot while another funeral home offers more budget-friendly options for the handling of the body. It may seem strange to try to spend so much effort on shopping for these options, but in doing so, you can save yourself and your family a lot of money.

Set Up Financing through the Funeral Home

While many people do decide to pay for their funeral arrangements in one lump sum, most funeral homes do offer a financing plan. Financing can make the package more affordable for you. Just be sure that you know how your money is going to be handled. Some funeral homes put the money in a trust until it’s needed, while others buy an insurance policy that names them as the beneficiary. Understand all the fine print and make sure that your investment is protected.

Pay for a Portion of What’s Needed

If you cannot afford to pay for everything for your funeral now, you can focus on paying for a part of what’s needed. For example, you can choose to just buy the burial plot, or you can focus on paying for the service. By doing this, you will be able to reduce the amount your family will have to pay later and you’ll also save yourself money now.

Make Different Choices

As with anything you buy, there are budget options and upscale options when planning for your funeral. For example, you can get a top-of-the-line casket that costs as much as some people spend on the entire service, or you can choose a more budget-friendly option. You can have the whole place decorated in hundreds of flowers, or you can choose a few tasteful decorations. Cremation is also less expensive than embalming. Determine what you are comfortable with and see where you can lower your expenses by making different choices.

Funeral planning isn’t pleasant to think about, but it’s necessary. These tips can help you to make funeral planning affordable for you so that you can protect your estate and save money for your family later.

Bio:
Chloe Trogden is a seasoned financial aid writer who covers specific opportunities such as grants for school. Her leisure activities include camping, swimming and playing her guitar.

Why Amazon Prime Is My Favorite - Review

It was during Christmas time last year that my wife decided to go for a free trial promotion of Amazon Prime. We ordered a few Christmas gifts and we were particular about the prompt delivery of them. The two-day free shipping offer tempted us. Earlier, I had avoided Amazon Prime because I was reluctant to pay the annual fee of $79.99. As this was a free trial offer, we decided to give it a try. We decided to cancel after our Christmas gifts were delivered. We were happy that we could make use of Amazon Prime without paying the fee. 

Now, a few months have rolled by. We have not yet cancelled because I could not help liking Amazon Prime.

Easy Access and Great Convenience

Why has online shopping gained such a lot of popularity? There are many reasons but above all convenience is the main reason. Isn't it? Moreover, when you go to shop in your locality, you may be disappointed that you cannot find some foods and some luxurious items that you wanted. This is another reason why many people go for Amazon. We too are one among them. 

----- Get Your 30 day Amazon Prime Free Trial -----

Initially, we made use of the Super Saving shipping offer from Amazon. It is true that shipping was free of cost in this offer but there is a minus point. You had to order for at least $25 if we wanted to avail the free shipping offer. We did some calculations. That is the time when the truth dawned on us. We were wasting our hard earned money every year to make use of the special offer. We understood that the membership fee in Amazon Prime was far more beneficial. The two-day shipping was an added advantage.

The benefits do not end here. There is another benefit too. Instant streaming of movies and TV shows is definitely a big plus. It is true that this is in the development stage and we have only a few choices at present. Soon you can expect to have a greater choice. In fact, the offerings are more recent than that offered by Netflix. Above all, it is a boon for voracious readers like me. There are tons of books that I can use in my Kindle absolutely free of cost. This is possible through the Library Lending program offered by Amazon Prime. I love the fact that I can have access on all Prime-available books without stepping out of the comforts of my home.

The unarguable benefits like convenience and access to other programs made us realize that Amazon Prime was definitely worth the money spent on membership fee.

Is it really worth the extra money spent?

The answer for this question depends on how frequently you buy from Amazon. If you use it occasionally, Amazon Prime may not be advisable for you. You cannot reap the full benefits of paying the membership fee. However, if you are like us and if you use Amazon frequently, Amazon Prime is a very good option. We regret that we have not started to use Amazon Prime right from the beginning. We regret that we have wasted our money for the past 2-3 years.

You should also analyze your interests, your needs and your hobbies before deciding if you really need Amazon Prime. I love my Kindle and I love reading books in my Kindle. Library Lending is a great bonus to me. Streaming movies and TV shows has captured the attention of my husband. We are assured of enjoying our favorite entertainments in the comforts of our home. We need not pay anything extra for these extra benefits and we are assured of quick delivery within 2 days of time. What more can we ask for?

We have no doubts that it suits us and we have received more benefits than what we paid. We have stopped the DVD delivery with Netflix because we get more by streaming in Amazon Prime. It is left to you to decide whether it would suit you. If you have no interests in the services offered, you have to make calculations before making the payment. Make a decision based on the calculations. If you are sure that you would make use of the services, it is definitely worth the money spent.

Should I Try to Save While I'm Still in Debt?

There are two schools of thought on this subject. I am largely in the camp that believes debt should be retired before beginning a serious investment strategy. There are three exceptions and I will begin by addressing these.

Exception 1—Your Mortgage

The typical mortgage has at least a ten-year term and often a twenty-year or thirty-year term. I do not believe it is practical to wait that long to begin investing. 

Exception 2—Employer Matching 401k

If you are fortunate enough to work for an employer that offers matching contributions to a 401k plan, I cannot recommend that you wait to an investment in that plan. You would be leaving free money on the table and that makes no fiscal sense whatsoever.

Exception 3—Small Business Owners

If you are a small business owner, you should invest in growing your business. After all, it is be the wellspring of your present and future income.

These exceptions noted ...

I believe in the time value of money and by extension the value, indeed the necessity, of eliminating the interest expense associated with most if not all debt.

The Time Value of Money

The time value of money is the most persuasive argument available for retiring debt and for investing. You see, saving differs from investing. If you have a piggy bank and save ten dollars, you empty out the piggy bank in ten years and guess what—you still have but ten dollars. Conversely, if you invest ten dollars, in ten years you will have more than ten dollars because whatever you invested in (stock, bonds, certificate of deposit etc.) will have grown in value.

Debt also exemplifies the time value of money. However, with debt, the value accrues to the lender not to you, the borrower. Think about it … instead of you earning money on an investment, the lender is earning money from you. Why? Because you have debt and the interest expense that is a result of that debt finds its way into the corporate coffers.

Sample Scenario

In this example, imagine you have a credit card debt of $5000 with an annual rate of 10%. You would have to pay $126.81 every year for four years to pay this debt in full. That means for $5000 you will pay a total of $6086.88 over a four year period. Obviously, you are paying the credit card company $1086.88 for the privilege of using their money. The time value of money is working for the credit card company, not for you.

Now, I want you to consider this. If you elect to invest before retiring this credit card obligation, what investment can you make that will provide you a safe return exceeding the 10 percent rate you are paying the credit card company? Can you think of even one? I can’t!

If you are lucky and find a reasonably safe investment that pays even 5 percent, this is only half of what you are paying out in interest to the credit card company! This is not a rational course of action.

Conclusion

Apart from the exceptions noted above, it is clearly counterproductive to invest before you have retired your debt.

For you small business owners, the principle applies equally with respect to business debt. Look to your accounts receivable for cash flow and/or debt relief. Take advantage of free invoice factoring calculator to see if your accounts receivable can help you retire business debt early.

About Author:Andrew Cravenho is the CEO of CBAC LLC, an innovative invoice financing exchange. As a serial entrepreneur, Andrew focuses on helping both small and medium sized businesses take control of their cash flow. Prior to CBAC, Andrew founded an annuity financing company relieving tort victims of financial hardship.

How to Choose the Right Credit Card Reader for Your Small Business

card reader segfault (Photo credit: secretlondon123)

Card readers are data input devices that are used to retrieve information from data storage devices, most frequently in the shape of cards. This kind of technology has developed into the credit card reader. Credit card readers are used widely in a number of different businesses across the world. Anyone with a certain type of credit card, or even ATM card, will be able to pay for goods and services without having to use cash. If you are a business owner, then it may be possible to increase your sales by using a credit card reader. Before you decide to choose one, however, there are a couple of things that you need to look over. Small businesses in particular have it good these days. There are now mobile card readers available that are quite easy to use.

Mobile Card Readers

Mobile card readers are being produced by various companies. Many of these are being bought by small business owners such as local artists, as well as private contractors. It gives your customers the opportunity to pay on the spot by using their credit cards. For anyone who wants to get paid as soon as possible, this is probably one of the best options.

Choosing a Card Reader

There are many different types available now. For example, Square is one of the smallest options that is available right now. This reader can be plugged into Android and iPhones. The device and the app are both free as well. Customers who use this do not even have to have a merchant account in order to use it. The money is simply going to go right into your bank account. Every time a card is swiped, 2.75 percent of the price is going to be taken out of the transaction.

Different card readers are going to work with different types of phone. For BlackBerry, the Intuit 

GoPayment application is compatible. Getting the application and the actual card reader (if you are going to be using an Android or an iPhone) are going to be free.

Get What You Need

It is important to have a look at the features of every card reader. The smaller ones are usually the best for small businesses. Large businesses may want to sign up with a plan, such as the one that is offered by Intuit GoPayment. With this Intuit, you will be able to sign up for a thirteen dollar a month contract.

Using a card reader is going to make life easier for small and medium business owners. You do not even have to invest much with a lot of the readers that you buy. You just need to choose a good package deal.

Author Bio:
Tina Davis is a freelance writer and blogger. She writes on a number of different topics. These include small business management, career advancement, alternative energy and travel. As well as this she writes about brands such as True Merchant as well as topics like credit card machines for small businesses in Pittsburgh.