Financial planner

5 Questions To Ask A Financial Planner

If you are planning to hire a financial planner to help in building your finances, then be sure to run the following 5 questions by them to ensure that they are the right planner for you:
1. “What qualifies you to do this job?” You're looking for a combination of factors in this answer. First, significant experience (I know planners have to cut their teeth on someone, but I wouldn't work with a planner who had been at it for less than five years). Second, an explanation of their specialty. Planners who were stockbrokers first may emphasize your portfolio over your life insurance; those who are CPAs may focus on your taxes, with stock picking or insurance planning coming second. Both of those things are fine, as long as their strengths coincide with your focus.

2. “Tell me about your current clients.” The best response is that the planner works with someone who sounds a lot like you, in profession, in income level, in family status. That's not to say most planners couldn't study enough to deal with a situation they haven't seen before. You just don't want to be the test case.

3. “How do you get paid?” Most compensation methods are acceptable, as long as the planner's willing to tell you about it in writing before you start doing business. You also want an estimate of what the planner believes doing the work for you will cost (ask that it be broken down into start-up costs and ongoing costs so that you'll know what the relationship will cost you over, say, a year).

4. “Tell me about your investment philosophy.” While it's true that a planner should take his cues regarding the amount of appropriate risk from you, it's also true that most have their own ideas about what does and doesn't constitute "a lot" of risk. You'll need to get very specific in your questioning here. Ask if there are certain stocks or funds that the planner believes should be a part of every portfolio. Ask about what asset allocation (the ratio of stocks to bonds to cash) the planner thinks is appropriate for you. You're trying to make sure that you and the planner have the same ideas in mind. Beware of a planner who seems to be trying to make your life too easy by essentially taking you out of the loop. No matter how much you trust your planner, you should want to see all account statements and to sign everything relevant to your money.

5. “I'd like to check you out before we start to work together; can you provide me with references?” “Am I going to find anything disturbing on your record?” Okay, so that's two questions, but they're both important. Sure, it's possible that the planner will give you the name of his three best friends. But it's also possible that those three friends, when called, won't give you the pat answers your planner expected. As for a background check, ask what organizations a planner is regulated by and call them to make sure there's nothing in his or her disciplinary history that you find disturbing.

PAYDAY LOANS

Payday Loans Pull The Teeth Of The Loan Shark

The Loan Shark was a staple bad guy of the movies of the 1940's and 1950's. He was that shady guy with the nice clothes and fancy house that lived in the seedy side of town. And when you needed money fast, and the bank turned you down, there was only one other person who could help: the Loan Shark.
The Loan Shark was a criminal who made his money by preying on the poor. Perhaps they were out of work, about to be evicted, or needed the money for hospital bills. He would loan them money at astronomical interest rates and ridiculously short maturity dates.
The Loan Shark ran a tight business. When the loan was due, he would send his hired thugs to collect the principal as well as the huge interest payment. If the borrower could pay on time, all was well. If not, the thugs threatened and beat the hapless borrower, gave him a short extension on the loan, and increased the interest even higher.
Loan sharks operated in the real world also, and were often associated with organized crime. But a relatively new way of borrowing money fast has reduced the loan shark from a great white shark to a guppy. It's called a payday loan.
A payday loan is a loan you can get almost immediately. The maximum amount you can borrow is limited by law, and your loan collateral is your next paycheck. In other words, the payday loan dealer will essentially give you a cash advance on your next paycheck almost immediately. In return, you agree to pay back the payday loan when you receive your next paycheck, plus interest.
This convenience is not without a price, however. Like the loan shark of old, the payday loan dealer can and does charge a much higher interest rate than a bank would charge. Unlike the loan shark, hired thugs aren't sent to collect the loan money if your payment is late. You sign a contract with the payday loan dealer, and the dealer can utilize the legal system to recoup his losses if necessary.
Many people are wary of payday loans. But if a credit card cash advance, savings account, or even a generous friend is not available during a financial emergency, a payday loan can provide the money you need. Payday loans can be particularly effective and helpful if you know the need for money is coming, and can plan ahead of time to repay the payday loan.
Do your research before signing a payday loan contract, but don't discount the payday loan as a legitimate financial resource.
Begin your payday loan research at the site below.

Loans

Getting Good Home Loan Terms Despite Having A Bad Credit Score



Getting good home loan terms despite having A bad credit score is just like getting recognition at the end of each academic year in school. Before you are awarded of any recognition, you must comply with the requirements for such recognition. For instance, before you will be given an academic award, you must first satisfy the required general weighted average on each or all subjects. Other awards also follows particular criteria before it would be awarded to deserving students at the end of the school year.

The same thing also goes in securing a home loan. There are certain requirements that you must meet before you will be able to secure a home loan. One of which is that you must possess a good credit rating.

However, despite the wide availability of home loans, there are still thousands of individuals who fail to secure home loans merely because they possess a bad credit score. They are not fully aware that any delinquency in paying their outstanding loans caused the “stain” in their credit record, thus they would be having a hard time securing a good home loan.

In other words, possessing a bad credit score simply means you are giving the lender reason to get more money from you through giving you home loans with higher interest payments. You want to secure a home loan because you do not have enough money to finance the purchase of your new home, and yet you will be given a financial burden if you insist on getting a home loan despite of your bad credit score.

Fortunately, there are still loan options for you despite your possession of a bad credit score. There are commercial lenders who offer bad credit home loan for individuals who are having a hard time securing a loan to finance the purchase of their new home. However, bear in mind that because of your bad credit standing, you will automatically become a “great risk” to the lender. Thus, expect that they will charge you higher interest rate as an assurance that you will be able to repay your home loans in the agreed period of time.

Bad credit scores really put you in a situation wherein it is you who is on the bottom of the wheel. Thus, you need to strongly convince your preferred lender that you are still worthy of another chance and not be a risk to them. How to do it? Have a look on the following guidelines and make sure that you will follow them.

- Research for the best available bad credit home loan offer in the market. You may prefer visiting various commercial lenders and financial institutions in your local area to know their terms and conditions as well as their rate of interest for home loans with bad credit score. In addition, a personal contact inside these financial institutions could be of great help in your credit problem.

- Cleanse your credit rating while there is still time for you to do so. If there are incorrect entries posted in your account, it is best that you call the attention of the authority with regards to this matter and have them clear your record of any incorrect rating. You may also ask for some certification from your previous lenders clearing you of any financial obligations. In this way, the recovery of your credit rating will be in place before you can secure another loan.

Getting a home loan with bad credit score could really be a daunting task. But if you manage to clear your rating in the shortest time possible, you will be able to secure a home loan that will not be a financial burden to you later on.

Fake Credit Card Numbers

Fake Credit Card Numbers Mean Safer Online Shopping



Isn't That Illegal?

Yes, using credit cards fraudulently is illegal. This article is absolutely not suggesting that you make up and use a credit card number. You should also never use credit cards belonging to other people.

Below is a summary of a new service the credit card companies have created to make online credit card use more secure.


How Does It Work?

It is more appropriate to use the terms "temporary credit card numbers" or "single-use credit card numbers" rather than "fake credit card numbers."

Some credit card issuers allow customers to generate and use a credit card number that is different from the number on their plastic credit card.


Current Online Security Measures

Security-conscious online buyers should only submit their credit card numbers to web sites that are secured by Secure Socket Layer (SSL) encryption. You can tell if a web page is secure by looking for the following signs:

1. The page address in the browser address bar begins with https. The extra "s" means secure. Normal web page addresses begin with http.

2. The browser will usually display a closed lock or a complete key symbol when you are at a secure page.

3. Clicking or double-clicking the closed lock symbol (or the security symbol your browser uses) will usually show the security information for that website.

4. Secure (https) web pages will encrypt (scramble) your credit card information before sending it across the public internet. Chances are that a human being will never even view the information.


That Sounds Secure Enough. Why Do We Need Single-Use Credit Card Numbers?

It is a bonus to the consumer any time a vendor can provide an extra layer of security. Online credit card consumers can generate a separate credit card number for each online purchase, if they wish.

This easy-to-use extra security measure makes consumers more confident about buying with credit cards over the internet. Anyone who did view your information in transit would see only your encrypted information. Encrypted information looks like gibberish to everyone except the credit card company's computer.

Additionally, it is no longer necessary to submit online the credit card number imprinted on your physical credit card.


Will They Run Out Of Credit Card Numbers?

No! Assume that Earth's population is about 6 billion people. Most credit card numbers have 16 digits in this familiar pattern: nnnn-nnnn-nnnn-nnnn. Assume that each digit in a credit card number can assume any value between 0 and 9.

That works out to be almost 1.7 million credit card numbers available to every man, woman, and child on Earth!

Even if the first 4 digits are reserved for some reason, there are still about 170 credit card numbers available for every person on the planet. In short, the credit card companies will not run out of single-use credit card numbers.

How Are They Different From My Real Credit Card Number?

They are as valid as your plastic credit card to online merchants. Each single-use credit card number is linked to your primary credit card account. Purchases made with single-use numbers appear on your monthly statement. Refunds made to single-use numbers will appear as credits on your monthly statement.

OK, What's The Bad News?

There are certain circumstances under which you should not use a single-use credit card number to make an online purchase. This author learned from experience not to use a single-use number to purchase movie tickets at home from a popular online ticket vendor.

The problem occurred because the machine at the movie theater that dispenses the online movie tickets requires the insertion of your real plastic credit card. If you did not use your real credit card number to buy the tickets, the machine will not release your tickets.

Any online purchase that requires you to present your physical credit card at the venue should only be made with the number on your physical credit card. Web sites that sell movie and other tickets will warn you of this.

Furthermore, your online ticket purchase will come with a confirmation number. Write or print that number and take it with you in case of problems.

Conclusion

Single-use credit card numbers are easy to generate, make online buying safer and more secure, and give consumers extra confidence when making online purchases. Call your credit card company or visit their website to learn if it offers this extra peace of mind on your credit card account.

Use the links following this article to learn more about cash rebate credit cards and gas credit cards.

Reduce Credit Card Debt

How To Reduce Credit Card Debt



This article will tell how to reduce credit card debt. Americans carry millions of dollars in credit card debt. Credit card debt can place an unnecessary burden on you and your family. It can be the source of marital stress, health problems and sometimes it can lead to bankruptcy. But you don't have to live being a slave to your credit card.

First of all make a list of all of your credit cards, including balance and interest rate. Now list the minimum payment required on each one.

Arrange the list so that the credit card with the highest interest rate is at the top and the one with the lowest interest rate is at the bottom.

Add up the required minimum payments for all of your cards. Now compare the total monthly minimum to the total interest charged. You will find that they are pretty close. If you just pay the minimums you will be in debt for the rest of your life. This is the card's company's biggest secret. They want you to make purchases based on the rationale of "Can I afford the minimum payment?"

Take a long hard look at your finances and determine how much extra you can come up with each month to apply to your credit card debt. This is in addition to the minimum monthly payment. Look for ways to cut other expenses if necessary to come up with more money.

Once you have that amount, write it in big bold numbers at the top of your list. Do not change this amount! This is about discipline and getting out of debt.

Call the credit card companies, starting with the one with the highest interest rate, and ask for a reduction in interest. Stress your good payment history and the fact that you have been a long time customer. You might even elude to the fact that you have received an offer from another card with a better interest rate and ask if they can top it. Whatever you do, always conduct yourself in a professional manner. Losing your cool will definitely get you nowhere.

If the card companies refuse to lower their rates, shop around for a card with a lower interest rate. Transfer your highest interest rate balance to a lower interest rate card. Now redo your list with the new interest rates. But do not change that total amount set aside for payment.

Each month, pay the minimum balance on all of your cards except the one with the highest interest rate. On this card, pay the minimum plus the additional amount that you have delegated to use for your card debt.

Continue to do this until your card with the highest interest rate is paid off. This will take a little time, so be patient. Then take the amount that you were paying on the highest interest rate card and apply that amount to the second highest rate card. Once you get this plan rolling you will find yourself paying off the subsequent cards faster.

This plan of reducing your credit card debt has been proven to work time and time again. Don't let the credit card companies keep you in their prison any longer. Use this plan and free yourself from credit card debt forever.

Credit Card Savings

Credit Card Savings



Having a credit card is very convenient since carrying a lot of cash becomes unneccesary and you might even have a hard time leaving your credit card at home. But with its advantages comes also its disadvantages. Since you can always buy things without carrying cash around, you are always tempted to buy something that you come across. If you have excellent control on your finances then good for you. If you have a hard time managing your credit card, then these pointers can help you.

Get Organized

First thing's first, obtain your credit card records to have a better idea of your spendings. Be sure to double check the records for errors and ensure its accuracy. A good example would be to find out if you have outstanding debts that should not be there as well as the accuracy of the listing of your former and present address.

Evaluate Your Credit Card

Go over your recent credit card records and look at the interest rates. Some credit card companies have promos wherein they offer lower interest rates for a period of time and this promo may already be over yet you have no idea and are already paying at a higher interest rate. Also take note of the membership fee which they charge annually since some have very high membership fees. Consider cancelling this if you are not using it frequently.

Pay On Time

It is important to pay your bills on time since it can have a negative effect on your credit record or rating. You will also be able to avoid getting charged because of not paying on time. Try asking the credit card company to remove the overdue charge if you have forgotten to pay it on time for the first time.

Manage Your Debts

If you see that you have more debt than what is comfortable, think ahead and plan out how you will repay it or at least reduce your debt. Devise a way to pay more than what is required of you so that you will have a reduced payment schedule. Prioritize the card that has the highest interest rate. Do not bring your credit card always when you go around since temptations abound.

Don't Bite More Than You Can Chew

As the saying "don't bite more than you can chew" goes, do not spend more than you can afford. True, a beautiful gold bracelet may be enjoyable to wear but its price tag may mean paying a lot for the next months. If you are bent to save money when using your credit card, unnecessary items like jewelry and the like should be at the bottom of your considerations.