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Becky shows you one way poor people can buy a house with no money down and bad credit. She knows this method works because she did it twice.
If you’re wondering if it’s possible to buy a house with no money down the good news it is possible to buy a house with no money down, in this video Becky explains her method and explains step by step how to buy a house with no money down. Video Rating: / 5
When it comes to buying a new car, you have three options: purchasing it with cash, purchasing it through a loan (also known as financing) or leasing it. For most shoppers, the decision comes down to buying or leasing.
On the surface, the differences between leasing and buying a vehicle seem fairly straightforward. Leasing a car means you’ll usually have access to a new set of wheels every few years; buying it likely means that you plan to drive the same car for a much longer period of time. Leasing usually includes a warranty that covers most of your repairs; buying means accepting larger repair costs, which are inevitable as the car ages. Leasing agreements can limit your mileage and your ability to customize your ride; buying means you can put as many miles as you want on the car and customize it however you’d like.
Looking only at the comparisons above, you might conclude that buying a car is a more practical and economical option than leasing a car—but if that’s really the case, why are monthly lease payments so much lower (often 40% lower!) than monthly loan payments? Why is leasing considered more expensive in the long term if you’re paying less on a month-to-month basis? To answer these questions, let’s take a look at the concept of depreciation.
Depreciation means a loss of value over time. New cars are a textbook example—you’ve likely heard that a car loses thousands of dollars in value the moment you drive it off the lot. That’s accurate, and that’s depreciation at work (and yes, it can be kind of depressing).
All cars depreciate in value over time, but the steepest drop happens in the first three to five years, as you can see below:
• Brand new to 5 years old—the car depreciates by 15% to 20% of its value each year
• From 5 years to 10 years—the rate of depreciation slows slightly to 10% to 15% of its value each year
• 10+ years—the rate of depreciation tends to level out to less than 5% a year. By this time, the car is usually worth less than one-fifth of its retail price!
Depreciation takes its toll on the value of every vehicle. However, your decision to lease or buy will have an effect on how that depreciation influences your finances.
When you finance a car, you own it once you pay off the loan. This means that you personally take the hit on its depreciation, but it also means you also “own” its residual value. Although that value depreciates over time, if there comes a time when you’re ready to sell it or trade it in, you get the benefit of that resale or trade-in value.
By contrast, when you lease a car, you never actually own it. The company that leases the car to you is responsible for selling the car once you’ve completed your lease term. The leasing company also ultimately deals with the car’s depreciation in value. You get to drive a brand new car without needing to think about its loss in value. That sounds pretty great, right? In reality, even though the leasing company deals with the eventual sale of the car, you’re the one who makes up for its loss in value through your monthly payments. That payment includes an estimate of how much the car will depreciate by the time your term is up. Monthly payments are lower because you’re not paying for the entire car—you’re just paying for how much the car will depreciate in those few years that you’re driving it (a period of time when, coincidentally, the car depreciates the most).
When you finance a car, the monthly payments are higher because you are paying for the entire car, plus interest on the loan. When you pay the loan back, your monthly payments stop (unlike leasing payments, which continue as long as you’re still leasing) and even though your car will have depreciated in value by that point, you will own the remaining value.
As with any major financial decision, there are also other factors that come into play. You need to be realistic about your budget and honest about your lifestyle, and you need to figure out what’s most important to you as a new car owner. How comfortable are you with the limitations set by a lease agreement? How prepared are you to pay for eventual car repairs? Will driving a new car every two to three years be worth thousands of dollars more in the long run? To some people, it might be—it all depends on a combination of your personal needs and preferences. Video Rating: / 5
For those who are unfamiliar with what credit scores are these are ratings given by lenders to borrowers in terms of how much a credit risk they are. If a borrower is too much of a credit risk, they receive very low scores. What is the effect of these credit scores? As a borrower with low credit scores, you will have a harder time getting that loan or credit card application approved. If granted, you end up with higher interest rates and not so attractive payment terms. On the other hand, if you have high credit scores loan and credit card applications are approved faster. Credit lines are extended to you much more freely. You receive low interest rates and better payment schemes.
What are the ways to improve my credit scores? You are probably asking yourself that question. Well here are a few suggestions:
1. Pay on time! If you can, pay a little over than what is due. Little overpayments are carried over to your next bill payment. It helps that by paying on time and a little over your amount due, your next billing statement will show an amount that is lesser than the previous one. Some lending institutions or companies offer discounts if you pay early or on time. This could save you a lot of money in payments in the future.
2. Budget wisely. Make a weekly or monthly budget of your earnings and expenses. Make sure you set aside ample amounts for savings and bill payments. Failing to make a budget causes unnecessary expenses. If you budget your money wisely you will live comfortably and have little less worry about unpaid bills. Remember to stick to your budget!
3. Arrange a payment scheme with your credits so that you can pay what you can afford and pay it on time. Interest rates and payment terms are negotiable. You can always renegotiate with your creditors if you are having a hard time paying for your dues with your current loan agreements.
4. Avoid getting additional credit if it’s not necessary. Getting another loan to pay for a previous one could be the biggest mistake of your life. Creditors always look into your financial history. If they see that you miss out on your previous loan payments they will think twice before giving you a new one. It is wiser to settle all previous obligations first before getting a new one. That way you improve your credit scores and the chances of you getting a new loan application approved will be higher.
5. Review your credit reports every so often. It won’t cost you anything or will it hurt your credit scores if you do a constant review of your credit report. Reviewing your credit report will give you a better understanding of your financial status. It makes you aware if you are overspending or overpaying. There may be details in your report that needs to be updated or corrected. Inconsistencies in your report may show you that your credit line may be fraudulently used by an identity thief and credit purchases made against your name will greatly affect your credit standing. Report these inconsistencies immediately to the authorities.
These are my 5 ways to improve my credit scores. Follow these to the letter and you will have higher credit scores!
For more advice on how to improve your credit score, go to CreditScoreBooster.com. Let the experts show you how to raise your credit scores.
The most exciting moment for any high school going student or college going student is the trip or educational tour to a famous tourist spot. They go over there, enjoy being with friends, take in the beauty of the spot and the surrounding area. Although most of the expenses done on the trip are taken care of by the college or the school itself, but when you are in a place which is full of exciting things and you have the permission to go around then it is a must for you to have some money in your pocket. It is the duty of the parent to understand this need of their children and let them have a student discover card. You should let your child to understand the importance of finances and let them learn the ways to manage it. It cannot be done unless until you trust them and let them have the opportunity to own plastic money.
Discover credit cards are the ideal plastics for your child as they have a wide range of plastics for the students. These are not just meant to be taken on a trip but can be used on a daily basis to facilitate various needs of every day. Some of these discover cards and the benefits that come along them are:
* Discover Student More Card: the more card is just like its name, it gives more benefits, more convenience than any other plastic money given by any of the financial company. Considering the fact that it is meant for the students, discover financial services do not charge any annual fee or other such miscellaneous charges making the usage of the card free for you. You also won’t have to pay the APR for the first 9 months as a welcome bonus. Apart from these there are cash back rewards for you on your every purchase done through the plastic.
* Discover Student More Card-Tropical Beach: this plastic comes with lots of discover rewards and lets you explore the immense opportunities of the plastic money. Get cash back points on things like groceries, gas, restaurants, hotels and departmental stores, where prices of commodity and services keep on changing throughout the year.
These were some cards for students, but if you are looking for a card which is meant for frequent fliers then you should get discover miles card. To buy any of these cards, visit Evalueplusfinancial.com.
Hard Money Lending is a fundamental tool for many real estate investors, but is often misunderstood and difficult to find. So today on the BiggerPockets Podcast, we sit down with hard money lender Ann Bellamy to discuss how to find and successfully use hard money to build and grow your real estate investing business. This show has an immense amount of solid, actionable content that you can use immediately, so definitely take the time to listen!
Before we get to the show, thank you again to everyone who has subscribed in iTunes to help make us one of the top business podcasts in all of iTunes! We’re up to 129 5-Star Reviews so far! Every subscription in iTunes and every review helps us reach more people – so thank you!
Check the show notes here: http://www.biggerpockets.com/renewsblog/2013/03/14/hard-money-lending-ann-bellamy/
http://www.bigstatehomebuyers.com/talk-hard-money-lenders-interview-houston-investor/ – In this interview, Kristen gives investors some tips regarding how to talk to hard money lenders. What do you need to know about your property? What questions do you need ask ask? Watch now to find out! Video Rating: / 5
Got to http://www.BayStateProperty.com for more QUALITY finance video just like this one!
psychology of Money – Personal Finance for Dummies personal finance, finance, investment, finance (industry), propertycrown, education, investing, business, budgeting, money, budget, management, cash, debt, progamer, forex beginner, forex training, forex strategy, forex trading strategies, forex analysis, how to trade forex, forex trading, forex losers, forex profit target, forex profit calculator, forex trade management, forex probability, forex stop loss strategy, forex stop loss, forex risk reward ratio, forex risk management, money management forex, forex money The biggest problem that businesses — and governments — must solve is one that rarely comes up in a behavioral psych lab: how to get people’s attention in a world filled with more distractions by the day. An app or any tool designed to spur your self-improvement must battle the demands of work and family as well as the delights of the Internet and the 50 other apps on your phone. So when it comes to investing, “most people are asleep at the wheel,” says Mike Sha, co-founder and chief executive officer of SigFig, an online investment manager.
This is where Silicon Valley’s skills come in handy. Adam Nash, CEO at online investment manager Wealthfront, which attracted more than 0 million in assets in two years, notes that many of his employees once helped design social software like Facebook. They know, he says, “how to design systems that trigger emotional responses.” You know what Nash means if you’ve ever unintentionally wasted hours crushing virtual candies, scrolling through your Facebook timeline or catapulting angry birds. The digital world is specially built to be addictive — continually satisfying you in just the right way to keep you clicking, playing or posting.
By living on mobile devices and using some of these digital techniques, apps can grab your attention in real time. The app Check uses alerts, timed for when they’d be most effective, to make sure users pay their bills on time. Investment sites including Betterment and Wealthfront make investing as automatic as possible, while reducing distractions that might get users trading too much — so no charts of the day’s stock market moves show up on their websites. Video Rating: / 5
College Students – 360 Degrees of Financial Literacy
College Students. College is a time of new found freedom for many students. But that can spell trouble if that freedom applies to personal finances too. Students …
Personal Finance 101 for College Students – DailyFinance
Jan 24, 2011 – personal finance If you’re like most college students, you think a lot about finances, but aren’t too adept at managing them. With the help of …
Personal Finance for College Students
This library of free financial literacy materials includes teacher’s guides and student worksheets for pre-K to second grade, third grade to sixth grade, high school …
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Lessons: College – Practical Money Skills
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Related Links; Games in the Classroom · Personal Finance … College. Lessons: College A teenager should already have a strong … discussion of the skills required to meet a lifetime of financial challenges. College. Teacher’s Guides, Student
CNBC’s Landon Dowdy highlights four guidelines to help you pick the best credit card.
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Zee Business is one of the leading and also fastest growing Hindi service news channels in India. The network has revolutionized service information by its ingenious programs and path-breaking strategy of making service information a 24/7 activity as it is not just restricted to the supply market. This has made Zee Business your network to wealth and profit.
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Private money lenders can be powerful allies for any real estate investors, but finding them can seem as difficult as spotting bigfoot! In this episode of the #AskBP Podcast, Brandon shares his best tips for finding private money, and how to attract them to fund your next deal!