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When debt collectors start calling, we might consider throwing the phone out the window. But that’s not the best way to deal with collection efforts. If you ignore them, they will keep calling for months or even years on end. And no one wants to live in fear every time the phone rings.
Debt collectors are rarely as unreasonable as we imagine them to be. They want to collect the money they’re owed, but they realize that they are more likely to succeed if they work with us. And the law prohibits them from threatening or harassing us. Here are five tips for effectively dealing with collectors:
1. Know your rights. It pays to familiarize yourself with the Fair Debt Collection Practices Act, which protects consumers … continue reading.
For some of us, budgeting is second nature. For others, it seems a nearly impossible task. There are just so many things to consider that it’s hard to decide where your funds should go.
Setting priorities makes budgeting much simpler. But even this is difficult for many household money managers. Priorities are somewhat subjective, and those within the household often have vastly different priorities. Here are some ways that you can make priority setting a little easier:
1. Keep first things first. When it comes down to it, there are only a few things that we truly need to survive. These things include food, water, clothing and shelter. Transportation and other things that enable us to work and continue to make money also fall into this … continue reading.
It's a dilemma found in the home of almost every working parent. Should you keep your little ones at home, or should you find a daycare to send them to. It’s an unfortunate fact that this can be a difficult decision, as both options have their own advantages and disadvantages parents need to consider. The best place to start is by paying special attention to each child’s individual needs. This will help make a choice which is safe, healthy and comfortable for their child.
While the advantages of hiring a nanny are definitely attractive, there is always a question of expense related to this choice. However, if this option is chosen your children avoid homesickness and don’t have the need to be exposed to crowds … continue reading.
Many of us have wanted to purchase something, but couldn’t bring ourselves to justify paying the high-ticket price for it. One thing you could consider is trying to rent it out. By renting your dirt bike, four-wheeler, flatbed, camper, or even your cottage or a spare room in your home, you can pay off your investment in less time than you first anticipated!
The process of renting something out is simple. You can put ads in the paper, online and on local bulletin and college boards. People interested in what you have for rent will call you if they want further information. Once you have ads placed in all of the key places, renting your 'toy' out will be easy. After a while, you could … continue reading.
While the value of real estate may drop in times of economic downturn, over time they usually increase. That means that if you’ve had your home for a few years and gained some equity, you should turn a profit when you sell. You may even be able to turn a profit in a short period of time if you get a good deal on a home and fix it up. But it’s important to remember that there are a number of costs that you will incur when selling.
While the costs to the seller are usually far less than the costs to the buyer, they are nothing to sneeze at. Here are some of the things that the seller usually pays for.
* Improvements – It … continue reading.
For those with flawed or non-existent credit records, it can be quite difficult to borrow money. In many cases, the only way for them to do so is to obtain a co-signer. This allows the lender the opportunity to collect from someone with a better credit record if the borrower defaults.
If you have good credit, you may be asked to co-sign for a loan at some point. Perhaps your child needs to borrow money to buy her own car but has never had any credit in her name. Or maybe your cousin is recently divorced and needs to borrow money to make a new start. Whatever the reason may be, it’s important to know the potential consequences of co-signing for a loan before you … continue reading.
Budgeting is important for every household. It’s not just for those who are barely scraping by and must make sure there’s enough money to pay the bills each month. Even if you don’t have to watch every penny, it’s important to know where your money is going and make sure you’re putting enough in savings for retirement, emergencies and other needs.
In theory, budgeting is pretty simple. But in practice, it can get complicated. Here are ten tips that can help you gain control of your money and pay off your debts.
1. For the first month of your budgeting, come up with your best estimate of spending. Breaking it down into categories such as entertainment, transportation, groceries and such will help. These expenses are more … continue reading.
