Obtaining a Better Financial Situation Involves Planning

Getting your finances in order is always easier to talk about than it is to actually do it. That is why it is a good thing to have a plan when you are ready to take financial management to the next level. Sometimes it helps to think outside of the box and do things that you have not done before.

 

Sometimes this may even involve taking notes from a completely different culture outside of yours. When you have time to take a look at the way that other cultures do budgeting you may get a brainstorm of ideas that allows you to make better decisions for your own household budget.

 

There is a practice in Japanese culture that involves budgeting with colorful pens where you write down different areas that you are spending your money in. Most people have never really considered what their money is being spent on. They do not have any real clue as to how they are coming up short each month because they have an unrealistic expectations for the money that they make.

 

When people make more than they assume that they make they are going to find it difficult to get themselves out of the financial mess that they’re in. In many cases these people will go from one bad decision to another because they don’t have a plan. Even if you are not totally able to work your plan out completely having a plan in place is better than winging it from month to month. Looking at another culture can certainly help you.

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Getting Out of the Financial Rut

It can be a hassle to initially get your finances in order. If you have never been in a place where you have had to manage your money yourself it can be a rude awakening. So many millennials that have recently graduated from college will go on to get jobs and have a strong desire to be financially independent of their parents. They may have jobs, and many of them may still find themselves struggling to pay their bills on time. One of the big reasons for this is that most millennials do not have a concrete idea of what it is like to budget money and save based on what you make.

 

It is only a matter of time before people find themselves in a hole if they are not putting their funds to good use. So many people will discover that it is easier to live within your means if you budget based on the amount that you have after you have paid yourself first. It is much easier if you go over to borrow from an emergency account that you set up for yourself.

If you have not set up an emergency account, however, you will find yourself getting payday loans to get out of debt. You will find yourself trying to consolidate debt where you are barely making minimum payments to get to the next paycheck. This is poor money management. You may not think about it at the time, but a minimum payments prolong the debt.

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New Opportunities for Credit Unions to Expand

Forbes recently published an article about the CO-OP Financial Services’ 2018 THINK Conference, THINK18. The conference aims to promote the expansion of credit unions to serve the personal finance needs of their community members. One of the ways that credit unions are expected to increase individuals’ access to financial knowledge and opportunities is by targeting traditionally under-served communities, such as LGBTQ people.

 

One of the themes of the THINK18 Conference is that many LGBTQ people do not have a deep-rooted trust in traditional financial institutions because they have faced historical discrimination in seeking financial opportunities, such as personal loans. One of the obstacles to credit unions comprehensively serving the finance needs of the LGBTQ community is that credit unions are typically not large enough to span a wide geographic area. Some of the speakers at the THINK18 Conference challenged credit unions to start expanding across geographic lines and thinking of serving a community of people based on common characteristics instead of proximity to a certain location.

 

Bobbi Rebell, CFP spoke about this topic general and warned that control of personal finances is a vital step in the progression of LGBTQ people to professional success. Credit unions are designed to be non-profit institutions, which means they could play a critical role in reaching out to more LGBTQ people about ways to manage and invest their money in the long-term. This will empower and equip the LGBTQ community to explore new opportunities in finance and investing that they would not otherwise have.

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New Ikea Credit Card encourages home shopping Opportunities.

The furniture and home accessories giant has launched a new credit card with valuable rewards and perks – enabling shoppers to earn discounts on Ikea-purchased goods and build credit at the same time. Without fees or flexible interest rates, customers can apply the card for home necessities including utilities, gas, and food. To Increase home investment, Ikea offers 5 % return on all Ikea purchases like the Task Rabbit Construction, an installation service for efficient home furniture and appliance set-up. The card also allows for a 3 % discount on restaurant dining and streaming subscription services such as Netflix, Spotify, and Hulu. Promising a single fixed interest rate of 21.99%, Ikea hopes consumer confidence will increase in purchasing or investing in Ikea-made products.

 

Chief financial officer, Jacqueline DeChamps, shares an optimistic outlook for people looking to build their homes and produce healthy credit. By making this connection with the furniture store, they are able to save money and increase eligibility for loans.

 

The Ikea Visa rewards program is in collaboration with Alliance Data’s card in order to create financial investment products so people can afford to decorate or renovate their home. With a long-standing connection to the store’s loyalty rewards program, Ikea Family, cardmembers can still apply those perks retroactively in addition to the benefits of the new credit card.

 

For example, members can get a refund on products that depreciate in sale under 90 days and new customers will get $25 off their first Ikea purchase. To alleviate shipping fees, the furniture giant promises free standard shipping and home delivery service until August.

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The Advantages Of Credit Cards Over Debit Cards

You may want to use a credit card over your debit the next time your shopping. In fact, it may make more sense and be advantageous to replace debit card use virtually everywhere. Using a credit card for purchases and paying bills provides you benefits that using a debit card does not.

 

First, why are there benefits to using credit cards? Credit card companies charge higher fees to merchants when you pay with a credit card. This means that credit card companies such as Discover, VISA, Mastercard and American Express make more money as a percentage of the transaction. Thus, they are incentivized for you to pay with a credit card instead of a regular debit card that is linked to your bank account.

 

The perks associated with using a credit card are numerous. The most well-known credit card benefit is cash back. This typically is around 1-2% but can more during special offers or on certain purchases. In other words, if you spend $100, you will get $1, $2 or even $5 back. That is pretty sweet, right?

 

Credit cards also give you the flexibility to buy now and pay later. As long as you pay the balance before the payment date is due, you will not be charged any interest or fees either. Credit cards also provide you with additional security. If unauthorized purchases are made, the card will be frozen, and you will not be responsible for fraud. Debit cards also offer fraud protection, but you will lose access to any money you had while an investigation is ongoing.

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Nearly 60 Percent Of Credit Card Owners Do Not Know The Interest Rate

A recent poll has shown that only 39 percent of people who have a balance on their credit balance know what their interest rate is. This means that 59 million people in America know how much interest that they are paying.

 

Ed Mierzwinski is the senior director of the United States Public Interest Research Group. He stated that if you do not know how much interest you are paying, then you are probably paying more than you have to. The average Annual Percentage Rate is 16.1 percent. Most households pay $1,000 in interest per year.

 

Experts recommend that you get out of debt as soon as possible. Mark Cuban is a billionaire. He stated that paying off your debt is one of the best investments that you can make. If you do not currently have the funds that you need to pay off your debt, then you will need to make sure that you know how much interest you are paying.

 

Ed recommends that you look at your statement every month. Credit card companies know that most people do not look at their statement, and they take advantage of it. Not only do you need to be aware of how much interest you are paying, but it is also important to remember that interest rates can change. Many companies raise the interest rate every year.

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Clayton Hutson And What He Thinks Makes A Great Show

Clayton Hutson is a stage manager who obtained his business degree from the Stephen M. Ross School of Business and his degree in theatre design from Central Michigan University.

 

He has been a stage manager for years. However, he wasn’t always an entrepreneur.

 

Hutson spent years working for others.

 

One company that employed him fell out with a client. However, the client wished to continue working with Hutson.

 

Hutson’s continued relationship with the client led to a legal dispute with the company, and the stage manager was sued for $150,000.

 

The last company that Hutson worked for began to go under during the 2008 recession.

 

Hutson had to continue earning money, however, so he decided to branch out on his own.

 

He started his own business and gradually gained more clientele through word-of-mouth, the power of networking, and keeping his website up to date.

 

Since beginning his own company, Hutson has worked for famous song artists, such as

 

  • Pink

 

  • Kelly Clarkson

 

  • Kid Rock

 

  • Prince

 

  • Billy Graham

 

  • Faith Hill

 

  • Tim McGraw

 

 

Clayton believes that he is successful because he works hard.

 

His punctuality contributes to his work ethic.

 

Because he is always the first to arrive on set and the last to leave, he is known as the hardest working guy in the room.

 

The entrepreneur wants to maintain this reputation, so he gets up early and does whatever he can to ensure that his clients have amazing shows.

 

When asked what he appreciates most about song artists, Clayton didn’t hesitate to tell of how much he loves creativity.

 

The stage manager says that it’s great to utilize technology and to have huge screens, but what’s being shown on those screens is more important than the screen, itself.

 

If an artist is doing gymnastics or acrobatics, then using a screen can be a powerful way to show off the artist’s skills.

 

One must use technology to help make things better, not simply use technology for the sake of using it.

 

Clayton is constantly learning and implementing new strategies to help make his clients’ shows better, and each time he manages a show, the client is pleased with his work. Learn more: http://www.digico.biz/docs/latest_news/EkFlpVAlpkPbdvCaIx.shtml

 

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More Americans Optimistic about Their Money

Americans have a more positive outlook about their money than they did three years ago, according to a recent AICPA survey. Fewer people are feeling hindered by their finances. Just over one-third of adults postponed a major life decision due to financial concerns this year, compared to just over half of adults in 2015.

 

The most dramatic change was in the pursuit of college education. In 2015, 24% of respondents shelved their higher education goals for financial reasons; this year, only 13% held off on their educational plans. The percentage of those who delayed purchasing a home was 14% compared to 22% in 2015; 12% put off medical procedures compared to 19% in 2015; 10% postponed retirement compared to 18% in 2015.

 

Although financial confidence is growing, many Americans are still hesitant to make major moves because of their financial situation. About 60% of respondents stated that their biggest obstacle was having no savings. Half of the participants are worried about the economy. Further, 29% are having difficulty meeting monthly obligations, and 27% are stressed over consumer debt.

 

Over half of young adults lament that their debt load is keeping them from pursuing more fulfilling opportunities, according to a Clif Bar study. A recent Charles Schwab study found that three out of five Americans are surviving paycheck to paycheck. Only 25% of respondents had prepared a written financial plan. Out of these planners, 62% consider themselves to be financially stable, compared to 32% of those who had not prepared a plan.

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Credit Card Interest Rates are Unknown to Many

One of the most common forms of debt that American consumers have today are credit cards. Overall, more than 100 million adults across the country carry some form of credit card debt on a monthly basis. Of these people, the amount of people that are aware of how much they are spending on credit card interest payments each month is shockingly low (https://www.cnbc.com/2018/05/15/only-39-percent-of-balance-carrying-cardholders-in-the-us-know-their-apr.html).

According to a recently study, nearly 40% of all credit card balance holders do not know what their interest payment are on their credit cards. This is considered very problematic in today’s environment in which credit card rates are continuing to rise along with overall interest rates. Today, many people that carry credit cards will have interest rates that are in excess of 20% and some, especially those with high balances and poor credit scores, could be paying over 30%.

Overall, the amount of credit card debt is continuing to increase for the average person. Today, the average person across the country has an outstanding credit card balance of around $5,600 and the average interest rate is nearly 17%, which means that the average person is paying nearly $1,000 per year in credit card interest rates.

Due to the high interest rate, getting out of credit card debt is getting to be very hard. Those that pay the minimum payments will spend more than a decade getting out of debt and will spend thousands in interest over that period of time. The rising rates will only make this harder.

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The Story Of Mr. Nick Vertucci

Real estate is one of the largest markets in most well-developed countries around the world; shelter is obviously a basic human need and when a society lives in relative wealth, its constituents often purchase things that aren’t absolutely necessary like large, expensive homes or cars.

Unlike some other industries, which experts believe have a relatively high chance of being substantially affected by the general climate of business, economists and consumer behavior expert alike think real estate will unarguably exist for the rest of everybody’s lives on planet Earth who are already living today.

Such market stability is why Nick Vertucci entered the game of real estate nearly 20 years ago. Ever since the time his friend lugged along the begrudgingly-there friend of his, Nick Vertucci, to a real estate seminar that required three consecutive days of all-day attendance.

Why did Nick Vertucci go that real estate seminar?

Most people that enter any field know what they want to do from the time they leave high school or college.

Mr. Nick Vertucci’s computer business was down in the dumps at the time his childhood friend had asked him to travel to the real estate seminar the friend had an extra ticket to. Thanks to that friend’s partner not going to the real estate seminar, Mr. Vertucci was able to kickstart his career in real estate all because of that major real estate event.

Some people believe that pricey real estate seminars simply don’t offer any value to people that purchase them, though this commonly-held perspective on such real estate skill-boosting events is far from reality. Nick Vertucci’s very own Nick Vertucci Real Estate Academy has resulted in his many customers and clients largely doing better in their careers, ranging from self-employed freelance real estate agents to those working for major realty companies.

Nick Vertucci recently wrote a killer book on real estate

Mr. Nick Vertucci is now not only an entrepreneurial real estate guru – as of just a few weeks ago, the leading real estate seminar-holder Nick published Seven Figure Decisions: Having the Balls to Succeed.

Though the title of the book might seem hardcore and not appropriate for most audiences, the opposite is entirely true. Mr. Vertucci writes to interested readers – both interested in Mr. Nick Vertucci himself and the likes of the real estate industry – in a straight-up monologue, giving buyers the proverbial scoop straight up and down.

Find out more about Nick Vertucci: https://www.youtube.com/watch?v=hhitNGrityA

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