Are Debt Consolidation Companies Worthwhile?
Debt consolidation has helped many people get to a better place financially. So yes, looking to work with a debt consolidation company absolutely can be worthwhile if the circumstances fit — provided you also take note of certain red flags. What Is Debt Consolidation, And Why Do It? Debt consolidation is a way consumers can manage debt by combining various lines of credit into a new loan. While the idea of a “Frankenstein loan” over their head might sound scary at first, it can be preferable to having many smaller lines of credit. Here are some of the things that can make consolidation an attractive option: You only have to…
How many bank accounts is too many?
How many bank accounts do you have? Do you prefer to keep it simple and just have a current and a savings account, or are you of the opinion that, like shoes or cookbooks, you can never have too many? But just how many bank accounts is too many? And can numerous bank accounts actually harm your financial situation? Here we explore the pros and cons. Pro: It helps keep your finances organised If you keep all your money in one bank account, it can get a little tricky. For example, it’s easy for you to spend money you’ve ringfenced for savings – accidentally or not. Having two accounts also…
How Does Your Credit Score Impacts the Options for Loan
Before submitting a loan application, you must always be sure about your credit score because credit scoring determines the eligibility to avail of financial transactions such as personal loans, business loans, auto loans, mortgages, and credit cards. Today, every other financial institution, bank or lender analyzes your credit score before approving one’s creditworthiness. Credit scoring serves as the basis for lenders to either accept or deny a loan’s application. The credit score of an individual is a range of numbers between 300 and 850. The better the credit score better the chances to access a loan of any kind. Five Reasons That Influence Your Score This score is affected by five…
How Your Business Can Benefit from the Big Data of Finance
There is a ton of big data out there and nearly every business is being affected by the gathering and analysis of this data. The impact varies from data gathered by the internet of things (IoT) to industry and enterprise data, social listening, and more. However, there is another data set out there, the big data of finance. What is this data set made up of? The catchphrase “big data” refers to large sets of data that require extensive computing power to gather, store, and analyze. However, with the increasing volume of data created by consumers has come the power of cloud computing, meaning even small businesses can take advantage…
Money Management Is the Key to Financial Independence
It is the world of high flying individuals. The youth, for sure, is career-oriented and fiercely independent. But the freedom comes at a cost. Expenses might pile up and if you are one of those individuals who hate dependency of any sort and you might end up losing your much-valued freedom. However, there is good news! There are a few easy steps that you need to keep in mind to achieve financial independence, followed by the hardest part, holding it. Money management is the key to success for you; financial freedom starts from you and the steps you take. You might just be starting or are looking for better ways…
How to Find the Best Tenant Screening Services for Your Rentals
Nobody gets into real estate because they want to screen tenants. It’s not the fun part of being a landlord or property manager. People buy rentals for cash flow and appreciation but tenant screening is still one of the most important aspects of your business. The better you get at screening tenants the less headaches and issues you will have down the line. This will free you up to focus your time on growing your real estate business instead of dealing with late paying tenants, evictions, and complaints. There are many tenant screening services to choose from but not everyone is going to be the right fit for you. Here we…
5 Things You Should Do If You Lose Your Birth Certificate or Social Security Card
There are certain documents that you should always store safely due to the nature of the information that they carry. For instance, your birth certificate and your social security card contain information that can easily be used to commit crimes if they fall into the wrong hands. Unfortunately, sometimes things happen, and you end up losing them. So what do you do in such a case? To help you stay safe, here are 5 things you should do if you lose your birth certificate or social security card. 1. Report to the police It may sound trivial, but this is the most important step you should take in case you…
3 Tips for Finding Financing for Your Home Flipping Business
Probably one of the most common questions about house flipping is where to get the financing for each flip. “Nearly everybody I talk to says that ‘money’ is the number one issue that prevents them from getting started flipping houses,” says Mike LaCava, investor and contributor to Bigger Pockets. Bad credit, high debt-to-income ratio, and other financial factors can limit your financing options. People often make mistakes like paying too much for a property or investing too much of their personal finances. This can significantly limit not only your financial backing but your end-of-project cash flow. Intelligently financing your house flip is one of the most important factors in the…
5 Tips for Dealing With Debt Decisively
Human needs are unlimited but the resources available to meet those needs are limited. The fact that your earnings won’t always be enough to cover your expenses is often a good enough reason to occasionally borrow money in order to make ends meet. However, borrowing money to make ends meet often leads many people into a downward spiral in which they are overwhelmed by their debt burden. Many people are struggling with huge loads of debt; a 2016 study conducted by Nerd Wallet revealed that average U.S. household owes at least $16,000 in debt. Many people fall into the debt trap because of student loans, mortgages, and credit card bills.…
Is it Safe to Rely on Short-Term Loans?
The cost of living has been going up every day. Most of the people in the society are currently living paycheck to paycheck. When an emergency expense comes up, these consumers panic because they do not have extra incomes to deal with the situation. For people who have an emergency fund, things will be easier. However, if you are not in a position to save money, these unexpected times will be stressful. Should consumers rely on short-term loans when in emergency? Experts in the financial market say that people should only get the paycheck loans when they do not have any other options. Everyone wants easy access to funds, but…
