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Is Now a Good Time for a New Mortgage or Refinancing Your Current Mortgage?
Current mortgage interest rates in the U.S. are historically low. If you're considering buying a new home, there's a large stock of new and existing homes for sale, many at much lower prices than at the height of the real estate boom. Even with this good news, however, mortgage loan applications in July 2010 hit new lows.
Should You Manage Your Finances Digitally?
Online Services are Quick, Convenient, and Secure
How busy are you? Very! Isn't that right? Most of our "to do" lists are a mile long.
How would you like to save time on some repetitive financial chores while increasing security and benefits?
Considering Debt Settlement? Why That's Probably a Dangerous Idea
As economic times remain tough, U.S. consumers' credit card debt hovers at about 852 billion dollars. Average household credit card debt is over $15,000.
This report gives you the facts behind the claims of debt settlement companies and profiles better options for resolving debt problems.
Like To Save, But Don't Know How?
Overall in 2010, we Americans are saving more money. That's one positive thing, at least, that the recession has prompted us to do. According to the latest figures from the U.S. Bureau of Economic Analysis, the savings rate is over 3% (as a percentage of disposable income). A few years ago our relative savings rate was essentially zero. So this is a great trend—a positive for personal finances that I hope everyone will continue to do even after the economy recovers.
In this report, I provide some tips that you can implement right away to jumpstart your savings.
Improving Your Home's Energy Efficiency Can Save Money
Certain Improvements Qualify for New Federal Tax Credits
Even though the economy is showing signs of improvement, most consumers are still looking for ways to save money. Making improvements to save energy around your home may cost some money now but produce savings now and in the long-term. This month we'll look at various ways to improve the energy efficiency of your home, ranging from simple, low-cost strategies to more extensive improvements. Some improvements may qualify for tax credits and help you save even more.
What Do You Need to Know About Buying a House in Today's Market?
Thinking of buying a new home? Today's housing market offers opportunities, pitfalls, and confusing situations. For example, home prices on average may be the most affordable they've been in twenty years, according to experts; but placing the right value on a home can be difficult, given the high rate of foreclosures on the market and other variables. Mortgage rates remain low, but loan qualification requirements have tightened. And the list of potential concerns goes on. This month, we'll look at some of the information and steps necessary for shopping and buying wisely in today's housing market.
Job Hunting? Tips to Avoid Job Search Scams
Even though the economy has been improving, the job market is still tight. In addition, high unemployment rates has added more pressure. This stressed climate in the job market attracts scams and fraudsters seeking to take advantage of people anxious to land a job. Because so many job search activities have moved online, many of the scams also come to you online. This month's report describes some of the most popular frauds and offers tips to help you avoid these traps.
Protecting Your Credit and Credit Score in Today's Economy
The economic fallout from the national credit crisis and recession has continued to hit hard at personal finances. Many consumers are facing tightened credit availability as they seek credit for a mortgage or car loan, for instance. Credit card companies have been lowering credit limits and closing accounts at record levels, even for customers with good credit, in an effort to recover from past losses and reduce future risk exposure.
Using Credit Cards Wisely During Today's Tough Economy
Used wisely, credit cards enable consumers to manage cash flow and leverage their overall buying power. Today's tough economic times, however, have put pressures on financial institutions, businesses, and individual consumers. These pressures have given rise to ongoing changes in credit card account terms and rates being made by a number of card issuers. Such changes may in turn increase financial pressures on many card holders.
What Will New Credit Card Regulations Mean for You?
Late August 2009 saw the launch of the first of the new credit card rules designed to protect consumers. They are part of the Credit Card Accountability, Responsibility and Disclosure Act of 2009, often called the Credit Card Act 2009. The remaining regulations take effect in February 2010. The goal of this legislation is to provide new protections for consumers by providing for better disclosures about credit card terms and curbing some of the worst practices of the credit card industry. Meanwhile, many credit card issuers are busy making changes to protect their interests and profits before the new rules take effect.
What do the new regulations and card issuers' actions mean for you and your use of credit and credit cards?
This report gives you a preview.
Is Refinancing Right for You?
Are you tempted to refinance with interest rates at historic lows? Or are your loan payments stretching your budget? How do you know if refinancing is right for you? This month's report looks at reasons why now may be a good time to refinance your mortgage or other loans.
Can the "Cash for Clunkers" Program Help You Buy a New Vehicle? Facts You Need to Know
There’s been lots of publicity about the federal government’s recently launched Car Allowance Rebate System (CARS), more popularly known as the “Cash for Clunkers” program. This $1 billion program can help consumers replace a gas guzzling vehicle with a more fuel-efficient new vehicle. It runs from July 1, 2009 until November 1, 2009 or until the money runs out if sooner. You might be able to benefit from this program if your old vehicle and prospective new vehicle meet specific requirements—and there are quite a few requirements. Here briefly are the facts you need to know to decide if the program’s right for you.
Handling Debt and Credit Problems the Smart Way
The news headlines have been telling the bad news for months: financial crisis, job losses, recession, record foreclosures. Millions of people have been affected financially by the current economic conditions. If you are facing debt or credit difficulties, how you handle matters to resolve the issues can make a big difference.
Using Debit Cards Wisely for the Most Benefit
Debit cards, also known as check cards, offer convenience in managing personal cash flow. In just a few days, I’ve observed people using debit cards to pay for purchases ranging from a pack of gum, bottle of water or cup of coffee to larger purchases such as weekly groceries, a tank of gasoline, or a set of new tires.
Saving Money on Entertainment and Shopping
Today’s tough economy is affecting everyone’s wallet. Most consumers are looking for places they can cut back and save. At times like this, however, you still need some entertainment. But can you afford it? And you have everyday shopping needs. What’s the best way to save money? This report offers tips to help you enjoy good times and good shopping at reasonable and reduced costs.
Avoiding "Loan" Schemes and Other "Services" Risky to Your Financial Well-being
Economic hard times such as the nation is now experiencing bring out the schemes and scams that aim to make a buck on people who may be feeling pressure financially and who are unwary.
In the last few weeks, I have seen dozens of ads and email solicitations for “opportunities” that could wreck an already stressed budget.
Is a Reverse Mortgage Right for You?
Have you seen one of the many ads for reverse mortgages on the television or received them in the mail? Many such ads paint reverse mortgages as ideal sources of income for any homeowner who’s 62 or older. In actuality, reverse mortgages are not for everyone.
Your age, circumstances, and estate plans can make a big difference in whether a reverse mortgage or another type loan may be best.
What You Need to Know If You’re Thinking of Buying a Foreclosure House
Have you seen ads like these?
- Save 20-50% On Your Home
- Buy up to 60% Below Market Value
- Homes for Half Price!
Dollar-Saving Tips for Budget Stretching in Tough Times
Even though prices have been falling at the gas pump, prices are still creeping up at the supermarket checkout counter and elsewhere. Every month it seems the Consumer Price Index ticks a little higher over last year. These trends tend to make most of us budget conscious.
Have you been looking for ways to save a few dollars? If so, this report’s for you. This month I've searched the Web for lots of tips to help you save dollars. The savings can start to add up, the more tips you follow.
Is Now the Right Time to Buy a Car?
It Depends!
High gas prices in the last few months have had people feeling pain at the pump and thinking about more fuel-efficient vehicles. But gas prices have moderated while the nation’s economic picture has worsened. Many consumers have cut back on spending. Yet, the news is full of stories about slow sales and economic pressures on auto manufacturers and dealers. Maybe, you think, now could be a good time to get a good deal on a new or used vehicle. Yes or no?
Opting Out for Peace and Security
Are you tired of finding your mailbox loaded with junk mail, especially unsolicited credit card, mortgage, and home equity loan offers?
Are you tired of your phone ringing with offers from telemarketers? Would you also like to do something to take your name out of circulation for various solicitations. Then read on.
Did you know that in about an hour, you can reduce the amount of junk mail and unsolicited offers in all forms that you receive? That's about the amount of time it will take you to opt-out.
Getting the Longest Service Out of Your Vehicle Saves $$$
Take good care of your car or truck and it will give you many years of service. Extra service years can save you money long-term.
Many people are keeping their cars longer. According to a report earlier this year by the research company R. L. Polk & Co., the median age of operational passenger cars in 2007 was 9.2 years.
In the current economic climate, all of us are looking for ways to trim our spending.
Here's how to stretch the good life for your wheels.
Credit Crisis Scams
Don’t Fall for Scams Related to the Credit Crisis
The slow down in the economy, the housing bust, and the tightening of credit have forced many people into financial difficulties. Scammers are just waiting to take advantage of these situations. People who are worried about money or losing their homes make lucrative targets for these thieves. You can protect yourself by learning to recognize the facts and the scams profiled in this month’s report.
Ever Worry About Your Kids and Money?
Do you want your kids to be savvy consumers – to save money and build good credit?
We all want that. But how do you get young people to care about “boring” topics like credit and financial responsibility?
We think we’ve found a way. It’s called FoolProof For Parents, and it’s available for free right now on the Information Edge website.
Car Buying
Take Five Steps to Save BEFORE You Shop for a New Vehicle
Yes, you read that headline correctly. If you are thinking of buying a new or used vehicle and you want to save money, we recommend first taking five steps before you even think of heading to a dealership showroom or website to shop.
When many of us feel that first itch for a new vehicle, we think first about dropping by a dealership to browse—look at a few models, lift a few hoods, check out a few prices.
Not a great idea—dealerships love to see innocent browsers pull on to the lot.
Choosing A Credit Card
That Is Right For You...
Pre-approved credit card offers continue arriving daily in the mail in spite of the recent credit crunch. Many present temptingly low introductory or balance transfer rates. Others dangle “rewards” or “cash back” programs. Their goal: to entice you to apply for their card. If you need a credit card, what factors should you look at to make the best decision for you and your wallet?
This report helps you get past the sales hype so you can truly compare what is the best offer for you.
Buying A Car?
Why Not Buy a Car on eBay or Another Online Auction Site?
eBay has become the gorilla of vehicles sales virtually overnight—they’ve facilitated over two million vehicle sales since starting their program. What’s not to like about that?
A lot of things. Before you head to the eBay site even just to poke around, you have to think about a lot of things...
Find out what's right to do.
E-mail Scams
New Twists...
Has your e-mail inbox had more spam in it lately? If so, you're not alone. In their never-ending siege on protective anti-spam filters, spammers are now using PDF (portable document format), Excel, and Word documents to try to scam you and steal your personal and financial information. And there are more new tricks. Your best defense is knowledge of their tactics. This month's report, looks at the latest scams now showing up in inboxes across the country.
Check, Credit, Or Debit Card?
Choosing a Payment Method for Security and Convenience.
How do you pay for everyday purchases or bills? Cash? Check? Credit Card? Debit Card? If you are like most people, you use a combination of these methods—and more. The advent and growth of electronic banking has encouraged many people to move more and more from paper (cash, checks) to plastic (credit cards, debit cards). All these payment methods have roles to play in personal financial management today.
Find out what's right to do. Read more...
Social Networking Sites
It’s a Matter of Safety and Privacy for You and Your Children
With the phenomenal success of sites such as MySpace and Facebook, the numbers and variety of social networking websites are exploding on the Internet. Some, such as MySpace and Facebook, attract millions of varied users and others may be targeted at fewer individuals with very specific interests. All share the objective of allowing “members” to communicate, or “network,” with other members, and all require that users share some information about themselves.
Sounds like fun, but what are the dangers?
Archives
Read more "Nick's Reports" in the archives.