Finance | FinanceDogma - Finance, loans, creditcard and mortgages

Archive for the ‘Finance’ Category

Save money by walking instead of driving

February 25th, 2011

admin

Ok, so the title might be a bit extreme at first glance… after all, cars are for driving, right? Who really has time to walk everywhere, or even ride a bike nowadays? In an age where we race to and fro, from business meeting to soccer game and back again, it can be hard to tell whether we are coming or going. To people who live very busy lives, or to people who are used to driving absolutely everywhere, it might seem absurd that you could find the time or the energy to actually walk anywhere… much less to do it everyday!

Well, as right as you may be to say that the concept of leaving the car behind full-time is a bit outlandish, there is another side to the coin that deserves a proper in-depth look… if you are not really ready to sell your car and ride your bike to work every single day, why not come up with a few compromises?

If you live far away from your workplace, then you might have no other option but to drive to work. However, what about lunch time? Odds are good that there are plenty of good places to eat within easy walking distance of your workplace, especially if you work in town! Why not toss the keys on the desk and take a relaxing walk to your favorite lunch spot? This will save you some money on gas in the long run, but it can also relax you and give you some time to rejuvenate your senses. Driving all the time is actually quite stressful, whereas walking can help you to take a deep breath and just be by yourself for a little while. No red lights, no honking horns… and best of all, none of that $4-per-gallon-gas getting sucked into your engine and burning to fumes!

Now, if you live close to your workplace, and if your neighborhood is a pretty safe one, it might actually be very beneficial to ride a bike or walk to work instead of taking the car. Over time, this can save you a lot of money in fuel. Even if you only walk or ride a bike a few days a week, this will build up over time to really cut down on your vehicle‘s operating costs.

Whether you walk to work, or just up the road to the convenient store, walking is as good for your pocket-book as it is for your well-being! So if you find yourself about to set out on a quick little jaunt on a nice summer day sometime as spring gets underway, really put some thought into leaving the car behind, and sporting some tennis shoes and walking shorts for a change!

Posted in Finance

Tags: save money

Make long term goals to streamline your spending

February 21st, 2011

admin

As hard as we all try to save money and spend less, one thing quickly becomes apparent… even if you make a good wage and have a great, steady job… the money always seems to go somewhere! And there is a lot of truth to the simple statement that says money was made to be spent! We may not like the guy who first said this, but in the end it seems that he was right. We work to make money so that we can, inevitably and over the course of time, spend it on the things that we need and want to have.

So, taking this principle into account, one might say that saving money is not so big a question. Rather, shouldn’t the question we ask ourselves be “how is the most effective way to spend the money that I have”? This is an interesting thought, if you really think about it. And, as crazy as it sounds at first, you have to agree that there is a measure of truth to it. How can we streamline our spending so that we spend our money in the most effective and meaningful way?

Well, there are a lot of ways to answer this question, but here are a few tidbits to nibble at in the meantime.

First of all, you need to figure out what you want to be doing in a year, five years, ten years, or even forty years down the road. Do you have any idea where you want to be, or what you want to have in ten years? If you do, then you are actually a step ahead of the crowd! Most people do not think this far in advance, but thinking and making some tough decisions now rather than later can actually pay huge profits down the road.

For example, do you want to own a restaurant at some point? Well, if you do, then you should streamline your spending so that the money you spend NOW impacts that plan in a positive way LATER! So, if you have to choose between a night out to the movies or a new cookbook, buying a cookbook might actually make more sense in the long run. It might not seem as fun NOW, but in ten years you will look back and not feel like that money was wasted as you might if you spend it going out to the movies.

This is truly a deep subject, but it is definitely something to consider as you plan your budget and spend your money. You only have so much of it… so why not spend it in the wisest and most well-planned fashion possible? It might just make the difference between having enough to get you to where you want to be some day, or falling short along the way.

Posted in Finance

Tags: spending

Solve your financial problems

April 19th, 2010

admin

Credit card debt can unsettle one and all if it is not managed properly. There are billions of credit card users across the globe and more often than not they fall prey to the credit burden in just about no time at all. Credit card debt along with other debt instruments can lead to financial problems. Most of the debt instruments are associated with high interest rates and lesser payment tenure periods. As a result liquidity is sucked off from their financial system and as a result credit burden piles up and reaches newer heights by the day.

Credit card debt burden can be solved in variety of ways. One of the most common ways of solving credit card debt relief is through credit card debt consolidation. It aims at consolidating all active credit and the debt should be paid off as a part of single EMI payment. Hence, payment delays and other hassles are avoided. One of the much appreciated aspects that encircle credit card debt consolidation is that the consolidated rate is competitive and friendlier payment terms are available at the disposal of the debtor.

Apart from credit card debt some of the possible avenues of credit burden include personal loans and other secured mortgage loans. These can white wash the liquidity from any financial system on the go. Credit card debt and other debt forms should be essentially eliminated from the system as these can have detrimental effects on the financial health of any debtor. Unchecked credit card debt can pile up with high interest rates. In all such situations help from credit counselors and debt consolidation companies can provide tailor made solutions depending on one’s risk and other parameters.

In quest to eliminate credit card debt one should engage reliable credit counselors and policy makers. They can offer best in class solutions which are tailor made as per the needs of the debtor. Hence scalable solutions can be attained in shorter span of time. (more…)

Posted in Finance

Tags: Credit Card, credit card debt, financial problems

Advantages Of Offshore Banking

April 1st, 2010

admin

It is usual for people nowadays to have their own offshore accounts. There are several reasons for this but most people narrow it down to three: privacy, profit, and protection. These are things that you should look for when dealing with bank accounts. Offshore accounts provide these to their clients. This article will expound on these benefits so read on to find out if having an offshore account might be something for you.

Offshore accounts provide you with high levels of asset protection.

Most people have this notion that having offshore accounts are illegal and morally wrong. They come up with pictures of thieves and criminals who try to launder money into the country. This is an exxageration. The truth is that offshore accounts give a certain protection level that is hard to find with other accounts. If you are the type of person who would like to secure the protection of your assets and other financial matters, then offshore banking might be for you. Offshore accounts give both government and business organizations this advantage. And most offshore accounts will keep your data secure. Offshore banks give an assurance that your information will be kept private because of the heavy monetary penalties and long jail terms given to those who break this rule.

Offshore accounts yield high returns and profit.

People with offshore accounts also see profit as a main consideration. There are plenty of local taxes imposed on banking and that is not the case with offshore accounts. Most banks would charge you debt tax and taxes on financial duties among others. If you have offshore accounts, you do not need to pay any of these. Another good thing about them is that you can locate them in a tax-neutral site and allow your earnings to compound. This makes offshore accounts very beneficial to you financially.

Offshore accounts provide a higher privacy level for your information.

A big reason why offshore accounts are gaining popularity is that they allow you to keep your financial and personal data private. How private your offshore account is will dictate how private your assets are. Onshore banks do not offer the same type of security because anyone will be able to access your information. They do not need to provide much to gain access and they can do a lot of trouble to your assets. There are also laws that require onshore banks to disclose information should the authorities have a need for it. You enjoy more security and privacy with an offshore account. Most of the offshore accounts are found in countries wherein laws do not require information disclosure and there is also a service known as anonymous banking. This means that you can create an account with very little information that you have to give.

There are many more reasons why people open offshore accounts but we have just given the top three ones. If you are concerned with the privacy, profitability, and protection of your account, then offshore accounts are a good thing to consider.

Posted in Finance

Tags: offshore bank, offshore bank account, offshore bank accounts, offshore banking

What is an Individual Voluntary Arrangement?

March 30th, 2010

admin

An Individual Voluntary Arrangement, otherwise known abbreviated as an IVA, is a formal agreement between a person and their creditors where an arrangement is made in order for the debtor to be able to afford their monthly debt repayments. By instigating an IVA, reduced payments are made towards the total balance of the debt (which is usually a percentage of the monies owed) and the term for this is often over a five year period. After this time the debt is considered settled and the balance will be zero.

Most IVA agreements are based on a single and affordable monthly repayment over a term of 60 months. However every case is handled individually depending on each person’s circumstances and finances.

An IVA should not be confused with a ‘Debt Management Plan’ which is not legally binding. Before and IVA is granted, a set figure of repayment will be agreed between both parties and the agreement is legally binding. However as long as repayments are made on time for the duration of the term, the debtor will be free from all of the combined debts after this period regardless of how much has been paid.

On application of the IVA, the court will be notified for an Interim Order which, once in place, means that no creditor can take legal action against the debtor.

IVA’s are formal in nature so they need to be set up by a licensed professional such as a debt counselor or licensed Insolvency Practitioner (IP). It is the IP that presents the agreement to the creditors who then vote on whether the arrangement is acceptable. If the IVA is accepted, it becomes the role of the IP to supervise that particular IVA arrangement to ensure that the debtor adheres to the terms and conditions set out in it.

Posted in Finance

Tags: individual voluntary arrangment, iva

Can internet bingo boost the economy?

January 17th, 2010

admin

With more and more people playing online bingo, one might start to wonder why it is becoming so popular. Well, the reason as to why it is so popular is because people have a chance to win money by playing it. Some people take it very seriously and play to win, while others just play to have fun and maybe with something. As many people play online bingo for money, is it plausible that this could cause enough of a financial stir to boost the economy?

Well, in all honesty, it could make a difference for some people in the way that it could help them win some money that they might not otherwise get to win. Say, for example, someone who has lost their job. They might only have a little bit of money coming in, but they also don’t have anything to do. They might try to find another job, but this can be tough in a tough economy. They could use their free time and their extra money playing video games online, but if they play online bingo with their extra money instead of buying video game subscriptions with it, there is a good chance that it can pay off in a big way!

So, in this way, online bingo can boost the economy by giving people a way to win some extra money, while also giving them a fun way to spend their time.

Posted in Finance

Tags: economy, Finance

Should casinos help gather child support?

January 17th, 2010

admin

As some of you may know, there are new laws in the works that would enlist casino’s to help collect child support. A lot of people seem to be against this, but at the same time, there is one very good reason why this would be a good idea. It is actually a fact that a lot of people gamble away their money and as a result, they cannot make their child support payments. Well, this law would help to collect child support from people like this if they win.

Usually, if someone wins a great deal of money at the casino, they will come back. But if they come back, they are likely to not only lose what they won before, but a lot more as well! This is how this law would help to collect child support. The first time the person left the casino, as a winner, their owed child support would come out of their winnings. This way, if they came back, they would not be gambling away child support payments - just their own money. (more…)

Posted in Finance

Tags: child support, Finance

Finance tip to save you money - learn to cook

January 14th, 2010

admin

More Americans spend extra money eating out than you would possibly believe! Think about it - every time you go out to a restaurant, you order enough food for you and whoever is going with you. How much does it cost? You might be eating fast food, or you might be getting a steak dinner but whichever is the case, stop and think for a minute about how much it would cost to buy the groceries and cook the food at home? You will probably come to a realization that, with the money you spent eating out, you could have eaten three or four times with the groceries you could have bought!

If you are tired of draining your bank account every Friday when you go out for dinner, then think about buying some groceries and cooking at home. Not into cooking? Well, I’ll bet you change your mind when you see how good of a job you can do! When you taste that home cooked steak, cooked to perfection by your own hands on your own grill, you will probably wonder why you would ever pay someone to do something that you can do so well yourself!

So, next time you feel like a special meal, just run to the grocery store, get what you need, come home, and get it ready. Not only will this save you money, but it will also give you a good sense of accomplishment. Cooking at home is a challenge, but it is something that you can learn and feel good about once you start noticing improvement!

So start saving more money, and learn how to cook at home! In fact, with the money you save, you might even be able to go out for desert afterwards!

Posted in Finance

Tags: Finance, learn to cook, save money

Budgeting ideas for couples

December 4th, 2009

admin

If you are a couple, and trying to figure out a system for spending your money, then here is a key piece of information for you to remember… if you DO NOT have a system, you will come up short a lot more often then you would like. But, on the other hand, coming up with a budget and a way to distribute your money can cause even the most mediocre of payrolls to go a lot farther than you could have anticipated… and here are some keys to making those dollars last when it really counts.

First of all, don’t calculate your budget by month, but by week. So, if rent is due on the first, start saving a little every week for it instead of using one whole paycheck. Do the same with all of your bills. Doing this may seem to cut in on your spending money every week, but this is actually the revelation of an illusion… that is all of the spending money you actually have! Paying the whole bill with your check, or paying your bills late, is actually not going to give you more spending money, but is, in fact, going to cause you to fall more behind. (more…)

Posted in Finance

Tags: budgeting, budgeting ideas for couples, Finance

Finance tips - What kind of small business to start

November 9th, 2009

admin

Determining just what kind of small business you will start is definitely a difficult decision. But to one who knows how to go about it, you can start a business with very little difficulty if you just follow a few simple steps in determining what you will do.

First on this list of steps is determining what skills you have. It would be advisable to start a small business that didn’t require any extra training. Why? Well, needing to get extra training will require both time and money… neither of which are obtained easily. In fact, odds are good that if you had the time and money to go back to school, that you would do so and get a better paying job… thereby negating the need to start a small business altogether!

So, it is best to start a business that will either utilize the skills you already have, or one that doesn’t require any specialized skills. For example, if you are a computer programmer, consider building custom websites on the side! Or, if you do not really have a specialized skill, start a hot-dog stand on the weekends? This requires only a minimal amount of knowledge, and some common sense. There are dozens of small business opportunities that you can start without obtaining extra training. (more…)

Posted in Finance

Tags: business tips, Finance, small business