No Picture
General

How To Avoid Filing For Bankruptcy

How To Avoid Filing For Bankruptcy

The majority of people have been in debt at one point or another. The bad thing about debt is that it is like sinking sand, once you enter it’s hard to get back up. When you start missing payments it can be hard to catch up on your past due amount as well as what is currently due. Some people get so behind that they have to file for bankruptcy.

There are two types of bankruptcy that people usually file for. The first one is Chapter 7 Bankruptcy. When you file for Chapter 7 a majority of your property that is not exempt gets sold to pay off your debt. While individuals and business can file for this, not everyone qualifies for Chapter 7.

The second type of bankruptcy is Chapter 13. When filing this, you agree to pay off your debt in two to five years with a reasonable amount per month. You have to prove that you have reliable source that will permit you to pay off your debt within the allotted time.

While these are an option, there are still bankruptcy alternatives. You still have options before you have to go that route. One other option is to do a credit card consolidation. With these option you transfer all your credit cards into a new one. With this method you have all your other credit cards paid off and you just pay one monthly payment instead of a variety. You would have to be strict with yourself and refrain from reusing those cards or close the accounts. That way you do not get in debt with those cards again.

Another alternative is debt reduction or debt settlement. With this method you pay your creditor a lower amount than what you owe. This does have a negative impact on your credit but can be an option when you cannot pay off your debt. Some companies usually offer this after you have gone several months without payment.

You can also contact a credit negotiator who can complete a creditor negotiation for you. There are some restrictions such as you have to have a certain amount of debt and a certain limit on each balance. The credit negotiator will work with your creditors so that you can settle the debt for a less amount than what you owe.

One last option is to gather all your bills for the month and figure out all your expenses. You would then have to do away with things that are not necessary for the time being. This things can be subscriptions or memberships to things such as magazines, etc. Cutting down on things you do not need such as going out to eat can mean you have more money to pay off your debt. You would have to be strict with your money and only use your monthly allowance and not go over that per month.

These are just some alternatives before you have to file for bankruptcy. When you fall in to debt there are still options you can do to get out of debt. While many of these will have a hard impact on your credit, the truth is you already have a bad impact on your credit when you missed payments.…

No Picture
General

2010 Will Be a Stock Picking Market

2010 Will Be a Stock Picking Market

Stock picking in 2009 was a year when even monkeys could have made a lot of money in the stock market.

Maybe you’ve heard the story from the 1980s, which was argued in a popular investing book, that a bunch of monkeys throwing darts at a list of stocks could make stock picking that would beat those of investment professionals.

Last year, as the vast stock rally lifted all boats, everyone from the professionals to those who didn’t have a clue (including monkeys) did quite well for themselves as long as they were invested in equities.

Stock picking in 2010 is shaping up to be quite a different stock picking market. It’s rare to see two consecutive years of huge gains, which means 2010 will likely see a modest, if any, return. 2010 is going to be a stock picker’s market. Those in certain sectors, and stocks, will perform better than others.

3 Ways for Stock Picking That Could See Upside in 2010

1) Look For Growth Overseas

Yes, international investing has been hot. In 2009, emerging market stocks soared on hopes of the recovery. However, there is always a concern that this trade is getting overplayed.

But stock picking has an advantage over those who simply buy an index or a basket of stocks from a particular country. They can choose companies that have a growth story and attractive valuations. There are plenty of Chinese companies that are not connected to the overheating real estate market and that are even considered value stocks, with low price-to-earnings ratios. For instance, China will soon surpass the United States as the largest car market. What Chinese companies are poised to benefit from automobile demand?

Investors can also play the international growth story by choosing American companies that have a large international presence. Many multinational companies with famous brand names do 50% or more of their business in international markets.

2) Commodities Have Made a Comeback

Commodities were the big story of 2008 as crude oil hit an all-time record. Commodities prices were crushed in the global recession. But in 2009, a slow comeback began that appears to be continuing into 2010.

As the recovery takes hold, commodities will be one of the first areas to show a turnaround as manufacturers ramp up production to meet growing demand.

Investors can invest in the area through any number of commodities and commodities-related stocks, including energy companies, oil services companies, miners and agriculture businesses.

3) Don’t Forget the Building Blocks

While the recovery appears to be taking hold, the companies that supply the building blocks are still in a good position to benefit from it, especially as government stimulus programs continue to wind their way through the global economy.

Look at machinery companies, construction firms, equipment manufacturers, and chemical companies. We’ve already seen earnings jump in the chemical sector, which is a reflection of growing demand.

Putting it All Together to Make an Exciting Stock Picking Portfolio for 2010

We used all 3 of these strategies at Zacks to formulate our Top 10 Stocks for 2010. We started with a large universe of stocks and used both Zacks Rank and Zacks Recommendations to narrow the list.

But then the arduous part began. We used our stock picking talents to put together 10 stocks that, for the first time, are heavily weighted towards international stocks and American companies that have substantial international business. We weren’t afraid of the emerging markets. We ended up stock picking several companies that we hope will continue to grow as the living standards rise in those countries.

Stock picking in 2010 will be an interesting year to be an investor. The rising tide has lifted all the boats. Hopefully, you can tap into those areas that are poised to benefit from the recovery and growth in the global economy.…

No Picture
General

Budgeting Money Tips: Selecting the Right Budgeting Strategy and Program

Budgeting Money Tips: Selecting the Right Budgeting Strategy and Program

There are so many personal finance programs and books on the market, trying to decide where to begin can make your head spin. Besides the myriad of options on the bookshelves and internet stores, there are dozens of popular, national programs that can cost hundreds of dollars. I’ve seen people spend over $100 to $150 on such programs and upon completion ask the question, “okay, how do I get started.” I find it unbelievable to spend that much money and time on a program and still not know how to get started.

Most of these books, programs and seminars focus on the much larger picture of Financial Planning and wealth building which are great resources to pursue after you get your spending under control, paid off all your debt, live within your means and have money left over to invest. To get started in the world of personal finance, most people just need a simple budgeting program to help them get started.

I’m also a proponent that budgeting should not be a “look back” to previous months spending and then model that for the coming months. If you’re overspending and base your future month’s budget on a bad model, you really don’t have a “going forward” budgeting strategy. It will be extremely difficult, if not impossible, to accomplish your financial goals.

My definition is that budgeting is a set of learned behaviors that help you manage your expenses relative to your income and provide you with a strategy and discipline to get out of debt and reach your financial goals.

To be successful, it’s important to start with what your goals are and what motivates you and write them down. Then you can analyze your income, expenses and debt with a budgeting tool to figure out how you can get on track to meet those goals. The last key component is to have some structure and discipline to your budgeting process so that you review it regularly and track how well you are progressing toward your goals. I summarize the 3 components as:

Motivators / Goals

Knowledge (i.e. “how to”)

Discipline

Once you’ve got the understanding that budgeting is more behavior-based than analytical, then it’s time to research the types of budgeting tools that are on the market to meet your requirements. If you’re already an expert budgeter and want a tool to also track your investments and wealth building strategies, that’s very different program than someone that just starting out looking for a simple, inexpensive budgeting tool. There are just a few categories of budgeting tools available:

Pencil, paper and calculator(Cost: $0 if you have a calculator)

Computer Spreadsheet such as MS Excel (Cost: less than $20 for the forms; MS Excel extra if not already installed on your computer)

Budgeting programs such as Quicken (Cost: You will shell out $40 for just the Starter Edition, $60 for the Deluxe and $90 for Premier

Online budgeting programs such as mint or Mvelopes (cost: mint is “free” but look out for the safety risks. Mvelopes has a per month charge)

Do some research on the web to find out which category of budgeting tool is best to meet your needs. A good budgeting coach can also work with you to provide solid advice on what’s best for your budgeting needs and match your skills to what’s available on the market. Whatever programs and tools you select, remember it’s all for naught if you don’t alter your behavior. Motivation / Goals and Discipline will get you to your end goals.…

No Picture
General

Choosing A Car Insurance Policy With No Downpayment: What You Need To Know

Choosing A Car Insurance Policy With No Downpayment: What You Need To Know

Cars are thought of as one of the best things that a person can have in his or her life. As they are used in daily life and are instrumental in our ability to move from one place to another, they are certainly products of technology that have done a lot to make our lives easy and comfortable. This is why most of us can’t bear the thought of not having any car to help us get through day-to-day living.

But, having a car isn’t exactly inexpensive. Car insurance down payments, for example, are really expensive, and most of us can’t afford to spend that much.

Thankfully, that is all in the past now.

Interested car owners today can have the insurance (and the car) they want without having to get anxious about the costs. You can find a lot of companies that can give you car insurance with no down payment. This, then, makes it possible for you to buy a car and apply for insurance without staying up all night, worried about how you would pay for everything.

While there may be a lot of companies that would provide car insurance with no down payment you can check out, that does not mean that you’d find every company worthwhile and trustworthy. It would pay to know certain things, still, so that you can secure yourself.

Some of the things that you should look into when you’re considering no down payment auto insurance are as follows:

Technical details. The technical details of the car insurance no down payment that you’re looking at are very, very important. Technical policies form the very basis of the car insurance, so you have to make sure that you’re in complete agreement with every one of them before you sign on the dotted line. You may have to spend time poring over it, as well as trying to understand what it says, but you will be rewarded for your effort.

Reputation. It is also important to get auto insurance no down payment from a company that has a solid name in the industry. As it’s a sensitive thing, get car insurance only from a company that has a good reputation. When looking for an auto insurance no downpayment policy, thus, get one from a good company.

If you keep all of these factors in mind, it will be considerably easier to find the right insurance for yourself. What’s important, at the end of the day, is your research and you need to do that properly, even if it’s time consuming and frustrating.…

No Picture
General

Business Advice 101 – What Every Business Venture Should Adhere To

Business Advice 101 – What Every Business Venture Should Adhere To

Everybody’s going crazy over starting a home based business and you’re probably one of them. While the concept is impressive, the actual deed might pose significant challenges especially if you’re just testing the waters and familiarizing yourself on your chosen field.

There’s no guarantee of success in doing business at the comforts of your home, but there are things you can adhere to in ensuring that you’ll never encounter rough edges, wrong turns, and inappropriate moves in your undertaking.

To provide you with a clearer picture, here are proven tips from proven winners and professionals in the field of home based business:

1. Generate a business plan

You cannot just plunge into the deep waters without having the skill to swim. This is likewise comparable to entering a new venture, you cannot just trade, sell products, promote services, or open a new dealing without having a solid plan to back you up and keep you on track. Therefore, you have to lay all your cards and ask yourself: What is the best lucrative venture I can start with? Am I going full time or will just use this small business to fill my spare time? How much capital will I need? These are just some of the major questions and considerations that should be well stipulated and articulated in your plan.

2. Proper content placement is the key

When talks about home based ventures surface, this normally involves the Internet as your medium in both marketing and advertising your product or service. So, in order to alleviate confusion among your clients and would-be customers, it is essential that your page is content-focused with informative details that will answer consumer’s needs and bring forth solutions to their problems.

3. User-friendly site, excellent customer relations, and quality product/service

If you have these three characteristics as trademark of your business, what more clients can ask for? The above mentioned characteristics are certainly your way to success. So, its either you have them or you break the odds of reaping your rewards.…

No Picture
General

The Importance of Keeping Up With Finance News

The Importance of Keeping Up With Finance News

The modern world has numerous intricacies to it compounded by the realities of globalization and rapid technological advancements. What this means is that no one can decide to remain ignorant of their environment and all that is going on around the world as this directly or in directly affects our lives. Many people have always regarded financial issues as a preserve of the financial gurus and those who specialize in finance issues. Acquiring the knowledge of financial matters, at least the general matters, is essential for everyone.

Finance news keep you abreast with developments in various critical sectors of the either the national or international economy. For instance if you may want to keep abreast with opportunities that exist for you in domains like forex trader then you need to know what is happening in line with developments of the volatile stock market and money markets. On another front you may want to know where there are affordable foreclosure properties that you can makes the most of to get yourself that dream real estate property as your residence or for investment.

Many people are getting hands on with financial matters because it does not really take an expert to get into financial trade circle and the make the most of what the industry can offer. What happens in the finance world affects your life directly it does not matter if it happens on a national scale or international locale. The fact is that the global economy in intertwined such that financial matters in the Australia economy for instance may affect the whole of the global financial landscape, which has an impact on the state of the economies, inflation, interest rate, etc. These are kinds of issues that get to affect you directly.

Keeping abreast with financial developments has been quiet a critically important aspect in the recent global economic meltdown. The global financial sector has been riddled with negative developments which cost some people huge profits from various business ventures. Keeping up with finance news helped people to stay on the look out and alert on the next move to do for instance in terms of example selling property, buying a property, getting a bank loan etc. the principle of keeping pace with financial developments is very important especially for entrepreneur who want to keep a close eye on the financial developments every second in order to position themselves for expediency and survival.…

No Picture
General

Credit and Your Business Plan

Credit and Your Business Plan

If you’re thinking about opening a business, you must always have a business plan. Without a plan, you’re not going to succeed, because you’re going to have no idea on where you’re going to go. Let’s put it this way in a sense. Let’s say that you’re going to build a house. Are you going to go out there, and just buy wood, and start building a house? Of course you’re not. You’re going to want to have a blueprint, as well as have a plan on what you want done. A business should be treated in the same sense.

When it comes to your business plan, you’re going to want to know of a few things, and one of those things is going to be finances. If you can’t afford to put cash up front, how are you going to get the credit to support your business? Let me show you a few ways on how you can jump start your business in terms of finances.

Your business plan and finances

When I financed my business, I used a lot of money from my savings, but I had to resort to a business credit card as well. This card would help me with purchases that I could put off on hold until the end of the month. From there, I could use the rewards, and get great things like gift cards, and such. As long as you don’t let the credit cards take your life over, you won’t have to worry about getting into debt.

A business card is a great way to jump start your business, and as long as you don’t go over your head, you should be fine, and not have to worry about debt.…

No Picture
General

Personal Finance News

Personal Finance News

In a time such as today’s when the world economies are still struggling to recover from the biggest economic recession in recent times, when stocks plummet without even a notice, no warning whatsoever, what to do? The hard times are here and when there seems no way out, just smarten up and take the road that’s tried and tested before, the road to personal financial investing. It is time to grow your money by leaps and bounds with trading currencies. Not that challenges will be lesser on this road, the major challenge will be the absence of an established business track record but not let that stop you. Utilize your past business financial information to start up with some capital loan. No bank or lending institution would lend you money if you lack personal financial information. While you begin with personal finance investing as a new venture, you would definitely not have cash flows or dividends information, or any financial statements enough to support you secure a loan.

And if you do not have any past personal finance news and information then do not panic as where there is a problem there are ample solutions too. In today’s digital age where everything is centralized around the vast Internet web, small business owners or beginners can enjoy endless advantages through the technology solution tools. You can trade online without even bothering to arrange loans for beginning with personal financial investing. Through the internet you can fill your kitty with all the necessary knowledge about the financial calculators and conduct your way through to the automated trading bot, impressive software that is exclusively designed to trade on your behalf leaving you to attend to various other things needed. And yes, you do not miss a single trading opportunity through the trading bot; but be careful not to make it a habit of relying on automated software for your activities as at the end it’s you who is responsible for any rise or fall in the business. So be determined and cautious, and the ‘win’ is yours.…