Month : November 2017

Debt Management

Different Ways Of Repaying Your Student Loans Faster

In the recent years, the costs of education have increased to such a great extent that without student loans, it is difficult to continue higher education. There are many reliable lenders like banks that grants student loans at various interest rates. Getting access to these loans is not difficult. However, the major problem is that students find great difficulties in repaying the loans because of the high interest rates and lack of proper jobs. Moreover, there are variable loans and loan from the government. The combination of these things can often make situations difficult. If you are fighting with your student loan, you will have to find out easy means to repay your loans.

Choose The Right Repayment Plan:

It is extremely crucial to make sure that you are successful in choosing the right federal loan with proper repayment plan. Different loans offer different repayment options, especially in the context of federal loans. The loans range from the standard plan to a term period of about 10 years. There are even income-based repayment options that can have lower interest rates. Make sure that you acquire information on different repayment options so that you are successful in selecting the best.

Paying The Private Loans First:

There is another important thing that you should always remember in the context of private loans. These are variable loans and the interest rates on these loans no credit check are higher. Thus, you should try to pay off these variable loans first. Rates can also climb in the next few years, and you do not want to pay the high interest rates. Therefore, it is always better to pay them so that you are relieved from a majority of loan terms. Once you have repaid the variable ones, you can now concentrate on the fixed ones granted by the federal agencies.

Make Frequent Payments:

The easiest way to pay off your student loan is to pay more every month. Based on the monthly amount that you have to pay each month, you can try to pay slightly more. The lender will accept the extra amount and this will reduce your burden over the student loan. Decide a percentage of extra payment that you can afford to pay each month on the basis of which you can set up a plan. If you are able to pay off greater amount of money, it is obvious that your loan will be repaid and you can save money on your interest rates.

Budget Better:

The first and the most important thing that you should not forget are to create a proper budget. Lack of a proper budget will not enable you to understand and determine the amount that you need to pay. A better budget will surely help you to save more money so that you are able to repay your loan. Getting rid of student loan or any other loan at the earliest is essential because it can create a good impact on your overall credit score. This can be a great option.

Frugality

Saving Money This Thanksgiving

Thanksgiving can be really expensive. If you are in charge of the Thanksgiving dinner you probably will spend hundreds of dollars on turkey, side dishes, centerpieces, family entertainment and more. Of course, it doesn’t have to be this way. Here are some great money saving tips to help you stick to your budget this Thanksgiving.

Make Dinner- Don’t Buy

It can be tempting to order a premade Thanksgiving dinner from a local restaurant or caterer. While these dinners are convenient, they are also very expensive. The cost of buying and cooking a turkey and side dishes is much less than the cost of ordering these.

If you want to save money this Thanksgiving, offer to host the meal at your house rather than spending the money to take everyone out to dinner. When family comes over, make the food yourself rather than ordering in.

Ask for Help

Many people hosting a Thanksgiving dinner think that they have to do everything alone. This is not true and is a great way to spend a fortune feeding the entire family dinner. Instead ask for help. Ask each family that is coming to bring a couple of dishes. If you create a sign up sheet, or assign specific dishes like green beans, mashed potatoes or pumpkin pie you will be sure to get everything you need without having to buy and make everything yourself. This can save a lot of money while still ensuring a delicious family dinner for everyone.

Stay Home

While no one wants to be alone for Thanksgiving, sometimes travel is just not financially possible. If you only have a few days off for the holiday, don’t fly out of town unless you have the money available. Flights are more expensive around the holidays.

If you do have to stay in town, connect with your family on this special day in other ways. Consider having a live video chat using Skype or another free service. You can also share in the Thanksgiving festivities by making a traditional family recipe. Invite some other friends over and have a special day from home.

Focus on Affordable Entertainment

Many families love to go out to a big football game or spend Thanksgiving afternoon at the movie theater. While these fun family traditions are important, they should not be at the expense of your budget. If you can’t afford the usual family traditions this year, start some new ones. Consider playing board games and cozino games with your family or host an all family football game in your backyard. You can also rent movies and watch at home instead of going out. Fun family traditions are based on creating memories, not overspending.

Set Up a Gift Exchange

When the whole family is together at Thanksgiving, it is the perfect time to start saving money for Christmas. Rather than buying everyone gifts this year, consider setting up a family gift exchange instead. You could have everyone draw one name for gift giving or could assign each family another family for purchasing. This can really save money and allow you to focus on getting one special gift rather than several less expensive ones. It is a great way to help your family start saving money as well.

If a gift exchange isn’t something you are interested in, consider buying your gifts in advance and taking them to Thanksgiving dinner so that you don’t have to spend money on postage closer to Christmas.

Hopefully these money saving tips will help you have a delightful and affordable Thanksgiving this year. If you keep your budget in mind over the holidays you will be better able to enjoy spending time with your family. After all, who wants to worry about money the entire holiday season? Choose a couple of these tips and start saving.

How do you save money on Thanksgiving?

Business

Here are some of the qualities a good lawyer should have

When you were young you definitely had some dreams that you wanted to pursue, apart from the fictional fantasies, you had certain aspirations that could have been inspired by the people around you or something you saw. This was probably the first time you had a vision of your future.

You might have continued pursuing this dream and it could be what you are currently undertaking. Sometimes plans change and you get to know of other passions that you have in life. Whatever the case, the career goals you had, shaped your mindset and helped impart certain principles that have been helpful to you even till today.

If you are a parent right now, your wish is to see your children reach their full potential; you will most likely make some sacrifices so that your offspring can be able to have the opportunities that you did not. You are also to give the necessary love and support that they need.

One popular career that is known to be quite a high profile job is being a lawyer. This is a career choice that you are likely to be proud of, it is a job that entails standing up for justice and letting the truth be known.  This could be because you are a lawyer, and the child looks up to you, or the image portrayed about this job is very attractive to the kid.

You know that the career choice of an individual usually reconciles with the personality of the person. Just like people who work in the media and entertainment industry are normally outgoing people, with law, there are some attributes that you expect to see. Some of them can be developed over time. Here are some of the behaviors a good lawyer should have;

  • Be very good at communicating.

For lawyers especially the ones who go to court, articulation is something that is valued very highly. You are expected to clearly explain the case and your standpoint to the court, and to make the judge or jury understand why your argument is the one that should be taken as true.

  • Have great research skills.

In this career, you should know that your argument should be based on facts and there is no tolerance for opinions that do not have proof. If you have good research skills you will be able to give solid business legal advice to the clients that require this information from you.

You should encourage your child in every endeavor they decide to undertake. Strive to allow your offspring to enjoy every opportunity that they can access to make them acquire important skills and experiences. Law is a career path that is not easy, but with the right attitude and having these features, success is almost certain. 

Bio

Gerald Box is a well experienced lawyer; he has been in practice for over twenty years and has a specialty in business legal advice. Gerald is also a trained life coach and has conducted many seminars to young high school students on career paths.

Business

Does your mobile business accept credit cards?

One of my favorite mobile businesses in the world are food trucks. They’re becoming more and more popular and are having a wider variety of food. One of the problems that I always had when going to a food truck event was being able to pay for the food. They would always be cash only, and let’s face it, not many people carry a lot of cash with them. So there would be many times I wouldn’t have cash on me and I’d have to go hunting for a rare food truck that took cards. I always wondered how much money these food trucks were missing out on because they didn’t have the ability to accept credit cards.

One of the reasons they didn’t take credit cards is because they just didn’t know of a way to take them in a food truck. Technology has come a long way and taking credit cards these days is as easy as plugging in your phone and downloading an app. There are several companies out there like Sumup that offer a card reader to take credit cards and an app to download for apple or android phones. It’s easy to start taking credit cards once you’ve got everything setup.

How do I get paid?

So you may be asking yourself, “when does the money show up in my account?”. The answer to that varies from company to company. It’s usually between 1 to 2 days before you receive it directly into your account. Obviously the faster the better so it would be a good idea to do your research before you pick the company to go with.

Ok, great. But how much is it going to cost me?

So now to the important part. How much is this going to cut into your profit. This is also something that varies from company to company but they are usually pretty close. They’re usually a little under 3% of the transaction with some change on top of it which can vary from 15 to 30 cents per transaction depending on the company. If you have smaller transactions then finding a low transaction fee is going to be a priority. 15 cents per transaction is going to save you a lot of money over time even if the percent per transaction may be slightly hirer. You have to do the math yourself to see what your priority is going to be.

That’s it. There’s just a small upfront investment for the card reader that attaches to your phone, usually $50-$100, create an account, and download an app. It’s as simple as 1, 2, 3. It’s not rocket science and it will allow you to do business in the 21st century. There’s no reason to not take credit cards when it’s so easy and it will allow you to tap into so much more money and get you to stop missing out on customers that don’t carry cash. And no, you don’t just have to be a food truck business. This would work for any business that has transactions. Even if you have a store, you can still use a mobile card reader to take payments. Why? Because it’s a lot easier than setting up one of those old-fashioned credit card readers that go over the phone lines and it could be cheaper too. Remember, the less time you have to worry about the technology, the more time you have to make money. So do yourself a favor and start taking credit cards today.

Money Management

Budgeting: For The Just Getting Started

So you have come to the realization that you need to control your finances. Well I’m here to help you get started. Starting a budget is somewhat easy but there are a few steps that can trip you up. What I’m going to do is walk you through the mine field so you can have a budget that you can call your own.

Starting out

What your first step needs to be is make a list of categories of bills that you have every month like rent or mortgage, phone bill, etc.  Here’s what mine looks like:

budget

The reason to list those first is so when you decide how much goes into each category you can get the necessary bills out of the way first and know how much you have left over for the rest of the categories.

Next make a list of all of your monthly variable expenses like this:

budget 2

If you want to make the categories more detailed go for it. You can make eating out into breakfast lunch and dinner if you want. Customize it to whatever works for you. Don’t worry about making it perfect the first time around though. Budgets tend to evolve over time so just make a first one that will get the ball rolling. The Spouse 1 and Spouse 2 is for fun money for each person FYI. Be sure when you put the two groups together that you add a line for savings between them.

Divvying Up Your Money

After you’re done making categories for your spending it’s time to find out your spending. This step is to find out how much money you spend in each category. There’s a few different ways to do this.

One way is to guesstimate how much you spend in each category. Your regularly monthly bills will be pretty accurate but your variable spending will probably be pretty off. With this method you’ll be adjusting your budget a lot and can be frustrating so I wouldn’t recommend it for most people.

The other way is to track your spending for a few months and fill in the categories with those amounts. If you have a debit card I would use that because then you can see your transactions online and it’s so much easier to keep track of. If you don’t have a card and you just use cash then think about getting a small note pad and writing your purchases down. This isn’t the most fun step but it is the most eye opening experience. When you actually see how much you spend a month you may be very surprised.

At the end of each month put all of your purchases in their different categories. This will give you an idea about how much you spend in each category. Now comes the meat and potatoes part. The point of a budget is to control your money instead of letting it control you. So this is where you decide how much you want to cut back on variable spending. I’d recommend you cut back slowly so that it’s not a big shock and turns you off. If you spent $300 on entertainment try to cut back to $250. If you cut back a lot you might get frustrated that you can’t stay within budget and could cause you to give up. so each month just cut back a little more and eventually you’ll figure out where a comfortable level is for that category.

Once you figured out your budget write it down on a piece of paper or put it in a spread sheet. I write down my budget in a notebook so I can carry it around wherever I want to and work on it. I have mine set up like this:

Budget 3

Another reason I write in a notebook is because I fill out, on the page after my budget, columns with the different variable spending categories and amount budgeted. Then through the month I write down the expenses as they occur in the correct category. This helps me save a lot of time.

budget

That’s pretty much it. Not hard at all. Over time your budget will be customized to your situation. What you just created is a gateway to a better financial life.  This is a tool that’s going to help you get control over your finances.

How was your experience setting up your first budget?