My finance infos

Archive for June, 2010

How To Put Your Finances On Autopilot

In your quest for taking control of your own personal finances it is important to remember that doing so is a means to an end. Ideally you want to get your financial house in order so that you can lay the foundation for creating substantial wealth.

Laying that foundation can be accomplished in a number of ways. The most popular way and least effective way is to let your bills come in pay them if you can and save later.

There is a far more effective way to lay this foundation: Automate your finances.

Today is your lucky day. I will show you how to completely automate your finances: Pay your bills set up your savings and investments and never write a check or lick a stamp again.

The key to all this is using the online services that are available to you now.

First open a FREE online checking account. There is a plethora of them out there so finding one should be supereasy. I use WaMu but you can use Schwab your local bank or some other source.

Set up a FREE online savings account too. In fact open 3 or 4 I’ll tell you why shortly. Make sure it’s a highyield savings account. Link it to the checking account you just opened.

Here’s an optional tip for those of you rewards credit card fiends: For every regular bill you currently pay set it up so that your rewards card is debited for the monthly amount. Do not confuse this with a debit credit card. No use a true rewards credit card either a points airline miles or cash back credit card. The benefit here is that you rack up a ton of rewards for things you would normally pay by check or debit card. This is as close to a free lunch as you’re going to get.

Now set up your investment vehicles. If you have the option of investing in an employerprovided plan like a 401k set up whatever minimum there is to get the employer match. Then attempt to invest at least another 10 percent in an IRA Roth or traditional and the choice is less important than the act of investing in either one. Finally set up a taxable brokerage account.

Finally set up direct deposit with your employer so that your entire paycheck is deposited in your online checking account.

The hub of this system is online checking account. For any bills that you could not set up to be paid by credit card set up bill pays for them with your online checking account. If you did your homework this feature will be free.

So you’ve set up all your bills to be paid by credit card or auto bill pays. The only manual bills you’ll have to pay are your credit card bill and any recurring variable cost bills like cell phone hint: buy a payasyougo plan and you’ll eliminate this too water and power where I live PGE offers a “leveled” payment plan that sets your monthly bill at a constant rate for 46 months at a time.

Set up auto transfers from your online checking account to your online savings accounts set up multiple savings accounts for things like your emergency fund vacation fund gift fund and escrows like property taxes and insurance that come due every 6 to 12 months your retirement accounts IRAs and your brokerage account Zecco and TradeKing work great as does Sharebuilder.

Take it one step further: Set up your investment accounts IRA 401k and brokerage accounts to take that autotransferred money and invest it regularly in mutual funds and stocks in fixed dollar terms on at least a monthly basis taking full advantage of dollar cost averaging.

The beauty of this system is that it’s infinitely flexible and you can adapt it to your particular needs and goals.

Remember this system helps you lay your personal financial foundation. Using the time you save and your newfound financial organization layer other strategies on top of this foundation to totally stoke your financial future!

In future articles I’ll show you what I mean.

About the writer:nbsp;nbsp;My name is Bill and I have been collecting money hacks since 1966.

After getting my BA degree in Economics I entered adulthood out on my own for the very first time. I got a job an apartment and a car racked up some debt and paid it down. Living in the now didn’t really prepare me for what was to come: My Future.

Fast forward 20 years and I find myself with a mortgage 3 cars two kids what I consider to be a wellpaying job and I still find it challenging if not difficult to stay on the path to a solid financial future.

Thus my entry into finding ways to earn more money spend it wisely save some preserve some and invest some. I hope to bring you unique relevant and useful information.

Cheap Payday Loans What You Need To Know About Obtaining Low Cost Payday Loans

Cheap payday loans are what many people look for when they encounter an urgent financial situation they dont have the funds to take care of. When youre looking for a cheap Payday Loan there are a few factors to consider. While there are various payday loan providers located across the United States many lenders have now made their services available online which makes comparing their benefits and features easier than ever. Youll immediately notice a common thread most are offering quick cash while claiming to offer it cheaply. How does one determine which provider has the best offer with the least out of pocket expense? Is there even such a thing as cheap Payday Loans?

The number one way to make sure your Payday Loan experience is the most costeffective one for you is to shop around. Dont settle on the first great sounding deal that comes your way. Instead research several lenders determine if their terms are clear and ask questions about any aspects of the process that you do not understand. Theres no such thing as a stupid question especially when it pertains to your finances. Dont assume you should already know the answers when you dont. As regulated as the payday loan industry is there are still some unscrupulous lenders out there who prey on the desperate and unwary. Never ever pay for the opportunity to apply for a Payday Loan. No reputable lender will charge you a fee simply for applying for a loan that has no guarantee of approval.

Another way to keep payday loan costs under control is to remember to take time to study your disclosure agreement and carefully review terms and conditions. Carefully look for hidden fees as well as the fees charged in the unfortunate event you cannot pay your loan back on time. If you are unsure of what a certain aspect of your loan agreement means ask for clarification. Make sure you are dealing with a provider who complies with the Federal Truth in Lending Laws. Do not sign anything until you are absolutely sure what you are signing. Read the fine print and be proactive. You are taking the reins of your financial situation by applying for this payday loan so dont steer yourself down the wrong path by overlooking the important details. An oversight may wind up costing you even more financially!

The term cheap as it relates to Payday Loans can be viewed as a relative term. Your primary expenditure should be the interest rate charged which varies from state to state. Long term loans use the expression Annual Percentage Rate for the interest a borrower will pay on their loan. The APR represents the annual percentage of the amount of credit granted. While a loans APR is useful when comparing lenders it is a flawed measure when it comes to payday loans. This is because payday loans are not stretched out for a year making this annual measure basically irrelevant. Payday loans are intended to be used as short term financial solutions and are to be repaid on your next pay date. Therefore simply comparing the payday loan rates which range from 1550 of the amount borrowed is a better way to determine how cheap a payday loan really is. This interest rate though it may seem high in comparison to long term loans is often less than the cost of returned checks and late charges not to mention the damage prevented on your credit rating by being able to pay last minute bills on time.

The key to obtaining cheap payday loans is being an informed consumer. Compare payday loan providers and their interest rates. Carefully review your disclosure agreement so that you understand the total cost of your payday loan and what amount you will be paying back on your next pay date. If you want to save a few more bucks you can apply online and save yourself the gas money required to drive to a payday loan store location. Many reputable lenders now offer this option. Do your research and apply from the comfort of your home and save yourself on fees the trip and the gas!

About the writer:  Michael Tagnani is an SEO expert Internet marketing enthusiast and an integral part of the Spotya team. Spotya is challenging the negative image payday loans have received in recent years by empowering their customers with valuable information useful resources and the lowest fees on the planet! Looking for a cheap payday loan? Visit us at www.Spotya.com

10 Steps To Avoid ID Theft

How much information does an ID thief need to steal someone’s identity? Easily found personal information such as a name birth date address or a mother’s maiden name can be enough for an ID thief to access someone’s existing accounts or establish new loans or credit in another’s name.

Every day personal information is stolen. ID thefts occur when someone shifts through a trash can or a waiter writes down a customer’s credit card number. While network security is constantly improving especially as more consumers conduct shopping and banking online it is still imperative that personal information be monitored and protected by its immediate owner.

Following are 10 steps to securing and protecting personal information according to Tony Bradley respected information security resource guru and author of Essential Computer Security:

1. Be on guard for the shoulder surfer. This is the guy who likes to casually look over someone’s shoulder as he or she enters a PIN number or credit card number at an ATM phone booth or even work computer. Those using a public place to withdraw cash or import personal information should always be aware of others around them and their ability to see what keys are being pressed.

2. Direct people to photo ID verification. Instead of signing the back of a credit card write “See photo ID” on the back. Often store clerks do not check for a signature on a credit card; and thieves can still use these cards to make purchases online or over the phone. However for times when signature verification is required the card holder is creating another layer of security by directing a salesperson a photo ID as well.

3. Shred bills and credit cards statements. Thieves who acquire information by going through trash are known as “dumpster diving.” These individuals are looking for bills statements and even junk mail to steal an identity. Use a personal shredder to destroy any and all material that contains personal information before disposing of them in the trash.

4. Destroy all digital data. Individuals who sell trade or discard of a computer system hard drive recordable CD DVD or backup tape should take extra precautions to ensure the data has been completely destroyed. Thieves who are technically savvy may retrieve information believed to have been deleted or reformatted. CDs and DVDs should be shattered before being thrown away and there are shredders designed to shred CD/DVD media.

5. Check any and all statements. Crosschecking bank and credit statements has two benefits. First individuals who regularly check their statements will be more aware if one does not arrive each month indicating that an account has possibly been stolen. Secondly checking statements allows the account holder to confirm that the entries are legitimate.

6. Pay paper bills at the post office. Paid bills that are left in the mailbox can be stolen by someone looking for critical information such as a name address credit card account number or bank information. Take bills to the post office or to a U.S. Postal Service drop box.

7. Limit personal information on checks. It may be convenient to have a driver’s license number or other information printed on personal checks. However if that information falls into the wrong hands it may be enough information for a thief to cause real harm.

8. Review a credit report each year. Thanks to a recent congressional act consumers can check their credit report for free each year provided from Equifax Experian and TransUnion. Check the report for any suspicious entries or activity.

9. Protect your Social Security Number. Now more than ever if a thief has personal information such as a name address and a social security number he or she can assume someone’s identity. Especially never give out your social security number over the phone or email.

10. Do online business with established companies. It’s imperative that a level of trust be established before conducting business online. Make sure those companies take the security of personal information as seriously as you do. Always review a company’s online privacy policy to ensure it is a secure or encrypted web site.

About the writer:  AmericanMomentumBank.com provides a wide array of personal banking and business banking options and banking solutions tailored to your individual needs. For more information please visit AmericanMomentumBank.com.