Best Finance Personal

Here are three things going on with your credit that you need to know about.

1. Your new credit card statement shows how much you will save when you pay your debt “earlier.”

The problem: Credit card issuers are now required to show you how much it would cost in interest to simply pay the minimum due on your statement.  Some issuers have taken to “helping” their customers by providing additional information that shows how much interest they will SAVE if they simply doubled or tripled their payments.  With finance charges starting at 16%, no one is saving money this way, they are simply losing less!

The solution: Don’t let this new language fool you; credit card companies make money when you pay interest.  And high finance charges mean you get hurt, financially.  Paying your debt off faster is always a good idea, but of course, the best way to handle credit is to only charge what you can pay off at the end of the month.  Don’t be mislead by these fancy charts, pay off AS MUCH credit card debt as you can, and when you have paid it all off,  start really saving by putting your money in a mutual fund. Continue reading ‘One Minute Money Lessons: Credit Farces’ »

While life isn’t always a walk in the park, sometimes it pays to make our lives easier. This is true when searching for loans. The process can become a headache if we don’t go about it efficiently. Here are some helpful tips to secure an easy personal loan:

1. Shop around. The first offer you get from a lender won’t necessarily be the best deal available. In fact, it’s likely that it won’t be! In particular, learn about the interest rates, fees, and penalties for a company’s loans. Learn about the term of the advance and the bottom line for your monthly payments. It’s advisable that you get at least three quotes before choosing a company. However, the adage “the more, the merrier” applies. The more quotes you get, the better deal you can find. Continue reading ‘Tips to Choose an Easy Personal Loan’ »