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Personal Finance Do s and Don ts
Every single one of us “no matter our location, age, gender, hair color, family background or race “has to manage our personal finances. For some, it s an exciting passion, a never-ending game of how much can I accumulate in one lifetime . For others, it s just part of life, something that needs to be dealt with but doesn t border on obsession. And finally, for many of us, personal finance is nothing but drudgery at best and an emotional trigger at worst. Fortunately, there are a few simple rules that will help anyone stay on track, and reduce the amount of stress involved when it comes to making sure personal finances are well in order. DO get organized. Even if you re a messy , this Do is crucial. You ll miss important due dates, pay exorbitant late fees and possibly get into serious debt (or credit trouble) if you don t have a handle on what you owe and when you owe it. A simple rule of thumb: the messier you are, the simpler your system. DO draw up a spending plan. Every dollar that comes into your household goes out in one way, shape or form, even if it s to a savings account. Know where your money s coming in and where it s going. Without this information, you can t possibly make wise financial choices. Overwhelmed by the thought? Ask a financially responsible friend or relative (whom you trust) to do it for you. You can t argue with success “and they can help you make the hard decisions when it comes to having to trim spending in certain areas. DON T cut out all your fun. Decide, along with your family, what s most important to you in terms of living a happy life. Then divide up your budget accordingly. If your family really enjoys eating out, plan for it. Just keep in mind you may have to spend a lot less on groceries or clothing. If none of us are the same then our spending plans shouldn t be the same. If you love to read then cutting back on cable TV wouldn t be a problem. If you love to watch sports, then cutting back on cable TV would be a serious problem. DO allow impulse spending. Yup, you read it correctly. Unless you plan for a certain amount of miscellaneous, unexpected expenses in your spending plan, you ll always feel as though you re blowing your budget when you pick up items you weren t planning to buy. Just like anything else, give yourself a buffer . A side benefit: you get to skip the guilt when you pick up that neat velour Elvis on the boardwalk. DON T use your local bank ” unless you absolutely have to. Check out all available credit unions first. In most cases, they ll have better rates and more friendly policies on everything from fees to lending practices. Each dollar you deposit buys you a share, or membership, in the credit union. So instead of being a customer you re actually a member . Like the ad says, membership has its privileges. DO use a debit card with protection. Before you use a debit card, make sure your checking account is safe in case you lose your card or it s somehow stolen. Also make sure you have the right to reverse charges in case merchants don t provide the goods or services you purchased. DON T buy a new car. Considering the fact that new cars depreciate thousands of dollars as soon as you drive them off the lot, can anyone explain why buying a new car would be a good idea? DO run numbers before every major financial decision. Conventional wisdom works “most of the time. But there are always exceptions. For example, in most cases, it doesn t make sense to borrow from a 401(k). But there are instances where it s financially beneficial. You ll hear it preached from the rooftops that you shouldn t use a home equity loan to pay off credit cards, or that debt consolidation loans are nothing but trouble. But if you re financially responsible and ran into some tough circumstances, a HELOC or debt consolidation could be a lifesaver. Search online for calculators that will help clarify the situation. Numbers don t lie. And finally, perhaps the most important Do of all DO remember that personal finance is just that “personal. Everyone loves to give advice, and everyone loves to share their opinions. What worked for your mom and dad may not work for you. On the other hand, they probably have years of wisdom you can draw from. Consider your personal finances an extension of who you are and where you re going. Study the topic, and take the time to develop your own unique strategies when it comes to saving, spending and investing. During this information age there s never been a better time to find the facts you need, in record time. Everyone has finances. Get personal when it comes to yours.

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Qualified Debt Consolidation Leads
Debt consolidation leads are literally booming. Every day thousands of leads are passed to consumers and companies through telemarketing agents or pre-programmed software, which generates and promotes debt consolidation leads. Whenever a debt consolidation company clearly defines its potential consumers, then it is termed as ‘qualified leads’. With the increasing use of technology , companies offering debt consolidation services are more and more dependant on specialized software, which enables them to generate these leads quickly and inform ‘qualified leads’. Debt consolidation references have come here to stay. They are finding more and more takers by the day. The reason for their popularity is not difficult to see. People need money for various reasons and some time or the other has no option other than to borrow. People are spending more on shopping, housing and cars, to mention only a few. The booming world economy and increasing pay packets have resulted in consumers spending more. Today, even the young, starting out on their career are earning more and don’t mind splurging on sometimes, even on luxury items. Research points out some of the youngsters, just out of college, have sometimes up to 7 or 8 credit cards. This goes to show the changed purchase patterns and buying behaviors, which has been driven by availability of easy money. Even though one may be earning well and this gives you the confidence to go in for debt consolidation leads, one has to take an informed decision. Visiting online resources is a good way to find out in detail about the modus operandi of debt consolidation companies. You can also find out more about, for instance, the various intricacies involved in going for a debt consolidation lead. You can also discuss with your financial advisor and get to know more about these qualified debt consolidation leads. Once you are clear about at least the basics, then it makes your decision on qualified debt consolidation leads, that much more easier. Telemarketing plays a major role in the success of debt consolidation leads. In fact telemarketing debt consolidation leads are primarily responsible for the leads reaching the potential consumers. Debt consolidation companies generate leads through numerous sources. The most popular being online resources. Many companies offer these leads on their web sites, in the form of pop-ups or as banner advertisements. The debt consolidation companies pick up these leads and through their contact centers, do extensive telemarketing, passing on these leads to qualified customers. Advancing technology means that debt consolidation leads are being generated in larger numbers and are reaching an increasingly large number of people. ‘Live’ leads are generated by telemarketing agents, who are constantly in the look out for potential consumers. One is literally, bombarded by these calls from various debt consolidation companies offering the latest current lead. Such is the competition among these companies that you also have debt consolidation ‘transfer leads’, which allows the consumer to actually migrate from one company to another. You also have pre-programmed software, which does the telemarketing job for the debt consolidation companies. The entire process works like this. The automatic software finds out the generated lead and a predictive dial up calls up the consumer and ‘talks’ using a proprietary telemarketing script. The consumer can then choose for specific leads, which may suit his needs and simply hang up. His /her needs would be met by the debt consolidation companies in a matter of minutes. Such is the intense competition. Debt consolidation companies are finding increasing takers because of their ability to manage debts better. Consumers can now consolidate their repayment into one single assorted payment, thanks to the advent of these debt consolidation companies. The dept consolidation companies now negotiate with creditors for your repayment options, balance and time period for your repayment, to mention only a few. Debt consolidation has its drawbacks too. For one they actually extend the period of loan, at the same time making you pay more, over the same period of time. This is where compound interest comes into picture. Care should be taken about taking all these factors, while going in for debt consolidation. Another major disadvantage with debt consolidation lies in the fact that one is dealing with only one creditor. This can lead to difficulty in negotiation of repayments, should one face further financial problems. Debt consolidation companies usually ask for a security. This is mostly in the form of a home. One stands to lose the home, should one not repay the loan amount in time. It is therefore important that consumers make a prudent choice and calculated choice when going in for debt consolidation.

KJ specializes in helping homeowners receive competitive home loan quotes. For a free Mortgage Refinancing Advice and Quotes and to find the best mortgage rates visit www.homeandfamilybills.com

Credit Debt Consolidation ” Are we all sitting on a time bomb waiting to explode?
OK listen up folks, do you have a mountain of debt on your credit cards that would probably put a third world developing nation to shame? Suddenly does it seem to you and you alone that there is nothing in the classifieds but advertisements from Companies all promising competitive rates on Credit Debt Consolidation? Are becoming obsessed with hiding the credit card statements before your wife gets to the post in the morning? You do? Well don t be too despondent because it would appear that you are not alone in all of this. Doesn t this make you feel better? You feel like going out and treating yourself to something new right away! See, that s the problem. It appears that the average person in the US is about $8,000 to $10,000 in unsecured debt at any one time. Now for a certain part of the population that may or may not be a problem but for the average household it is and the knock on effects of this could be devastating on the economy. One of the reasons for this mountain of debt, it is argued is the difference between the average wage and the average cost of living, Basic balance of payments issue in Macro economic terms and the gap between monthly income and monthly expenditure in micro economic terms. In summary, living la dolce vita! Sound familiar? Yes full marks to the guys at the back, we are living beyond our means and sooner or later it is going to catch up with us all big time! If we take a look at the basic issue at stake here we have a mountain of debt that the average person only services the bare minimum of. So let s look at the basic mathematics. Person A has an income of $40,000 per annum and credit card debt of $10,000 that they clear at the rate of the bare minimum (usually 5% per month) so this roughly equates to $500 per month out of a disposable income of roughly $2,500 per month. This means that twenty percent of their income goes straight out of the door to service existing debt before they have had a chance to cover the ongoing expenses for the month. Throw into the mix the unexpected hospital visit, pet care expenditure or domestic crisis or automobile problem and before you know it the problems merely increase You don t have to be a fiduciary genius to spot the potential flaw in this whole exercise. As a major national charity for the Homeless once said we are all a mere 3 missed pay checks from being without a roof over our heads . OK this may be slightly on the over dramatic side but by studying the information above it is quite easy to see how very easily this could happen. Financial habits like these are all well and good in days of low interest rate but when the economy starts to cool and the markets react badly then we have to change our ways or go under. If you are going to do something positive about this then make sure that whatever decision you reach, whatever route you plan to take is the right one for you and one that you see yourself accomplishing in its entirety. Don t let this force you into some rash and foolish credit debt consolidation exercise that might cost you more in the long term.

Stephen Morgan is an independent journalist writing on a number of issues, the majority concerning adverse financial situations and the resultant stress that they create. He is the principle Editor for Debt Collection Services (http://www.debt-collection-services.ws) and also has just launched the associate site Living with High Blood Pressure (http://www.livingwithhighbloodpressure.net). More details about the above article can be found at http://www.debt-consolidation-services.ws/features/credit_debt_consolidation_are_we_sitting_on_a_timebomb.html