The Best Thing That You Can Do For Yourself is Get Out of Debt

Getting your finances in order is something that you need to do for yourself. You may think that you are doing it so that your parents can stop helping you out. You may assume that you are doing it to make a better life for your children. All of these things are great side effects of getting out of debt and getting your finances together, but none of these factors should be the main reasons that you are trying to get out of debt. The main reason that you need to get your finances in order is to better take care of yourself.

 

When you avoid this for a long time it is something that just gets worse. It is hard to even see how you will be able to get out of debt when you are not managing your finances correctly. You may assume that it is something that is too hard to do so you may let it slide. The problem with this is that it takes you down a road where it becomes much harder to recover.

 

You may find yourself going broke and fighting about money if you are in a relationship. You may find that it is hard to save money for any big trip. All the things that you want to do in life may seem out of reach because you have not tackled your finances properly. The best thing that you can do is sit down in access your debt before your spend anymore.

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Equities First Holdings Advances Business Into Australia

Australia has long been known as a very active open market for business. The cost of living is very low and pricing for land and properties has made it very lucrative for businesses who wish to move there. Equities First Holdings has made a name for itself by moving into markets that some others have ignored. They recently opened satellite office in Australia in order to work with the banking industry there on securing loans for businesses looking to relocate to the country. They have been very successful in doing this in other parts of the world and feel that now is the right time to get into the Australian boom. They believe that because of the decreased regulations that Australia has for businesses, it is more likely that many more will look to open branches there.

The people who work at Equities First Holdings are experienced in obtaining financing for their clients and have a good working relationship with many alternative lending sources. They have been known to secure financing by using publicly traded stocks that are put up as collateral against a loan. This process was unheard of in the past and is fast becoming the norm.

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Finances

Let’s face it. Every American wants to become financially free. However, many of us are not on that track the fact of the matter is that nearly eighty percent of Americans live paycheck to paycheck. A good amount of Americans have least than $1,000 in savings. A lot of young people are not investing at a young age but rather racking up credit card debt. In this article, I’m going to be showing you a few ways on how you can become financially successful.

 

  1. Make a budget

To take control of your finances, they are going to need consistent attention. This is why it is so important to create a monthly budget unique to that month. You track where every dollar is going and are not surprised at the end of the month. Find out how much your take-home pay is every month and work your budget around that. As always, you should be trying to increase income and limit spending. The wider you make this margin, the more likely you will see financial success

 

  1. Save

Make it a goal to save at least 15 percent of your income each month. If you are unable to do this or you are currently living paycheck to paycheck, you may need to increase your income or lower your expenses.

 

  1. Invest

Once you have enough money saved up, it’s time to put it to work. I’d recommend investing in both 401ks and Roth IRAs. These are pretty safe investments and will grow your money over time.

 

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Credit Card Debt vs. Credit Card Perks

Credit card debt is something that can wipe out a lot of people that are not being completely focused on what they are spending the money on. There are a ton of people that find themselves in debt over and over again because they have bad money management skills. Most news reports that address millennial investors will state that the average person that is of retirement age is not ready to retire. These people often have excessive incomes, but many of these workers of this generation are spending their money on frivolous things. They are spending right down to the last dollar, and they’re not putting any money aside for the golden years.

 

So many people find themselves in trouble because they just do not know how to use credit cards wisely. This often turns into two different sides of the coin. There are people that are used to credit cards that will use their cards for perks only. They pay their balances in full. They make sure that credit cards are used with some level of discretion. If you go overboard with your credit cards it is going to cause you a lot of trouble.

 

Credit cards come in all flavors, but the ones with the cash back offers are best. People that get in debt never reap their rewards from this. It is best to avoid cash advances and steer clear of any balance transfers. If you can do this you will have much better financial management skills.

 

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Top Credit Cards for Businesses and Potential Business Owners 2018

In a recent article on forbes.com credit card available to business owners only was a myth debunked. It was revealed how many more people are actually qualified for business credit cards and all the benefits that they come with. The top 5 credit cards below are listed but not in in order best to last. They are the Chase Ink Business Cash Credit Card, Chase Ink Business Preferred Credit Card the Business Platinum from American Express Open Credit Card the Business Gold Rewards Card From American Express and the Southwest Rapid Rewards Premier Business Credit Card.

 

The reason these cards extremely attractive is because of the different benefits that they offer. With each credit card it is slightly different but they are similar benefits but vary in their degree of benefit issuance.

 

The different benefits that the credit cards offer are thousands of bonus points or cash back value when using the card with the first few months. They allow for additional spending once you’ve used a certain amount of credit. Certain ones also have an opportunity for waived fees for the 1st year and one of them the Business Platinum Card from American Express as a $200 air travel credit $250 worth of lounge access.

 

Most people think you have to have a pretty strong and well grounded business to get started with these credit cards. However if you have activities like driving for Uber, renting your home for Airbnb, or even selling items on sites eBay and Amazon you might be eligible for the many bonuses.

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Is It Time To Close A Credit Card?

If you have a credit card that you have not used, then you may be wondering whether it is time for you to close it. Closing a credit card may seem like it is the right thing to do if you are no longer using it. However, it is important to remember that your credit may suffer if you close the credit card.

 

Your credit limit is one of the factors that affects your credit score. If you close your credit card, then you will have less available credit. For example, you have two credit cards. One credit card has a limit of $1,000. The other credit card has a limit of $5,000. If you close the credit card with a limit of $1,000, then your credit limit will be reduced to $4,000.

 

You need to keep your credit utilization rate to less than 30 percent. That is why if you are nearing the 30 percent credit limit, then you will need to keep the credit card open. Closing your credit card will also make your credit history younger. This will lower your credit score.

 

It is important to note that credit cards are sometimes closed due to inactivity. That is why it is a good idea to set up a recurring payment and put it on your credit card. Pay the card off every month.

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Financing A Business With Personal Credit Cards

Many new entrepreneurs have difficulty getting a business loan because they do not have the type of credit history that would qualify them for the business loan. Often, the new entrepreneur must find another source for funding. The easiest and most convenient way to fund their business is with a personal credit card. In fact, recent statistics compiled by financial sources show that financing a business with personal credits cards is up. However, there is also a downside. Those business people might end up destroying their credit history and making it even more difficult to qualify for a business loan.

 

Why A Business Owner Should Avoid Using Personal Credit Cards

Of course, it’s easy to simply take a personal credit card and fund a new business, instead of waiting for a business loan approval. Still, it is important for that business owner to realize that this step is harmful to business growth. It will not build a business financial history. In addition, this might lead to ruining the business owner’s personal credit history. Business owners are not taking this step because it is an easy way out of a financial crunch. The business owner is taking this dramatic step because it is the only way out of a financial bind. Generally, the new business owner gets into this situation because people and institutions take advantage of the new business owner. They pay invoices late or the mobile payments are made too late. Certainly, it appears modern tech is a disadvantage to new business owners.

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Chip Credit Cards Are More Dangerous Than You Think

More and more consumers are carrying round the new chip credit cards in their wallet. It was thought that the new chip credit cards were a safer alternative than the magnetic strip credit cards. The magnetic strip credit cards required that the card owner sign for their purchases. The chip card supposedly added more security. However, news surfaced that the chip cards are easy targets for credit card skimmers and shimmers. Consequently, it is vital that consumers are aware of this fact. Their financial information might be in danger.

 

Skimmers And Shimmers

Most consumers are aware of the credit card thieves that use a skimmer to steal information off of a credit card or a debit card. The bad guys attach those recording devices to an ATM and it steals your information during a transaction. A shimmer is a device that has the ability to read the chip that is on your credit card. The thieves will take that vital credit card information and add it to a credit card that uses a magnetic strip. They will use that strip card in stores that have not updated to the chip credit card.

 

Scammers

Credit card thieves steal all your credit card information along with all your banking information too. Generally, these scammers strike on the weekend. The banks are closed and the consumer will most likely head to their local ATM to make a transaction. Avoid those thieves by keeping a close eye on your account activity and avoid using unfamiliar ATM’s.

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An Interesting Story About How Talos Energy Became A Publicly Traded Firm

Talos Energy Inc. is a Houston-based company that exploration and production firm in the oil and gas industry. It was founded on January 1, 2012, by John A. Parker, Stephen E. Heitzman, Timothy S. Duncan, and John L. Harrison. It is led by Timothy Duncan who is both the president and Chief Executive Officer of this firm.

Talos Energy became a publically traded company on May 10, 2018, in an interesting way. They did so by completing a merger with another firm in the industry, Stone Energy of Louisiana. This was a $2 billion deal which created one of the biggest offshore oil companies working in the Gulf of Mexico both in Mexican waters and American waters.

Stone Energy was a publically traded firm and Talos Energy was privately held before this merger. Talos Energy became a publically traded company by buying Stone Energy. It’s new stock ticker is TALO and it trades on the New York Stock Exchange (NYSE). When talking about this merger Timothy Duncan said its completion was one of the most transformational events in his companies history. Upon completion of the merger the backers of Talos Energy acquired 63% of this new combined company and the shareholders of Stone Energy acquired the remaining 37%.

Timothy Duncan said that his company is now in a great place where it can capitalize on its asset portfolio and returns. They have high-quality projects underway in both offshore Mexico and American waters that they will be able to take full advantage of. He and his management team are also looking at further business development opportunities.

When Talos Energy was launched in 2011 it was backed by two big venture capitalist firms, Riverstone Holdings and Apollo Global Management. At the time the belief was that Talos Energy would do an initial public offering sometime in either 2014 or 2015. However, the value of a barrel of oil collapsed which made doing an IPO all but impossible.

Their biggest find so far was in Mexico. This is called the Zama discovery and it is believed to contain a vast quantity of oil and natural gas.

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Changes to Consumer Law Means Zero Fees for Freezing Credit Files

The costs for consumers to freeze their credit reports will soon be free. In a big win for consumers who want to protect their credit report from being pulled without their consent, and prevent identity theft, credit agencies will longer assess a fee after September 21, 2018.

 

A “security freeze” or “credit freeze” is designed to prevent lenders from accessing a credit file, which also stops identity thieves from gaining access to a person’s credit file. It is seen as a very useful tool to block an unsuspecting person’s credit report from being used to obtain credit cards, loans, and other financial resources. The freeze is completely different than a credit alert, which only identifies the credit file for needing to contact the consumer prior to issuing credit. When a person freezes their credit report, the credit bureau is prohibited from granting access to the file.

 

The reform of the Dodd-Frank law will now have a federal rule that prevents the need for consumers paying to have their credit file temporarily lifted when they need to apply for credit, or for employment purposes. Currently, consumers have to pay a nominal fee that varies between $2 and $10 each time they need to have the file unfrozen. The unfreezing process has to be completed for all major credit bureaus, which can cost an average consumer $60, or more, depending on their individual circumstances.

 

With the recent breach by Equifax of 148 million consumers and identity theft on the rise, the ability to have the flexibility to freeze and unfreeze a credit file for free is a step in a positive direction for consumers.

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