Best Saving Account

Saturday, October 20th, 2012

Trying to get in a more secure financial situation? Want to find the best saving account for you and what you want to accomplish? Well, look no further. In this article I will show you some helpful tips of what to look for and lookout for on your quest to financial independence.

For one thing, it is important to keep in mind that the best saving account can mean different things to different people. Someone who is just starting out with their first job and has really no assets to speak of will have different needs from someone who is older and needs to pay for a child’s college or their own retirement.

There are two different, and common, saving vehicles you can use. Each has it’s own pros and cons and only you can decide which one, or possibly a combination of the two, is best for you.

Let’s start with a certificate of deposit or CD, these tend to earn higher interest rates than other forms of savings accounts. But, you guessed it, there is a catch.

The amount of interest you will earn with a cd will depend on several factors besides just which bank you choose. Things like the length of the term and the amount of the deposit are two of the biggest factors in how high of an interest rate you will receive.

To really get the best rate possible you will need to make a large deposit, something in the neighborhood of $10,000 and you will likely need to go for a longer term.

For anyone who has that kind of money to invest and who is investing for the long term, say a college eduction for their kids or retirement for themselves, this can be a viable option.

But many of us aren’t at that point. So, if that describes you, you may want to either invest in a shorter term cd or possibly even just a passbook savings account with your bank.

This can be a better option if you aren’t saving for some long term goal, but rather are just trying to put some money away for a rainy day.

This type of account will allow you the most liquidity but usually the least in the way of earnings. You just have to weigh all the pros and cons and factor that into your needs and time frame.

Many banks will also limit the amount of times you can draw money out of your savings account in a given month. While you can usually get at it as often as you want, you will usually have to pay a fee if you access it more often than allowed.

Of course, you can put money into your savings as often as you want to, you just are limited in how often you can take it out. Still, this may be a great way to start saving. Many of us will kind of “forget” about our money. That can make it easier for you to really get some money socked away.

I hope this information has helped. Now you have a better idea of what to look for in the best saving account.

Professional Financial Advice-Are They Experts

Friday, June 8th, 2012

What is professional financial advice? It is advice that you get from a so called expert.
Experts in the field of finance are there to help you wade through all the information out there to come to some conclusion about how you want to invest and protect your money.

These experts work with you, for a fee, on mapping out a plan customized specifically to your situation to help you become financially independent somewhere down the road. This is only one of the advantages of seeking out professional financial advice.

As an independent investor you may only have a vague idea of what it is you want to accomplish by investing. Sitting down with someone who knows the field well, you can not only get the information you need from a reliable source but you can plan a strategy for accomplishing goals and in what time frames those goals will be accomplished.

Investing just isn’t done, it is done by a process. It is planned out very well first by completing a list of assets and making a list of goals you want to achieve. Then you will be taught how to figure out your net worth within your current financial situation. Then the expert can take your personal situation into consideration and figure out your risk tolerance.

From here, the bugs need to be worked out and the expert financial planner can help you figure out what and where the bugs are and what needs to happen to fix them. All of this information about you is written down and kept in a file so it is available for the next time it needs to be visited to see if it still fits your situation or needs to be updated to keep up with changing times.

These so called experts are the way to go when you need sound advice for your financial future. You personal financial advisor will not just get his information from one source. He will get it from as many as he needs to customize your financial plan.

When looking for these experts you need to find one that you trust. Ask other friends who they have worked with in the past or are currently working with. No one’s financial situation is the same as the next guys so make sure that you find someone who keeps all of the information you give them completely confidential. You do not want to hear that you are broke or an imbecile in the world of finance and investing while you are in the beauty shop getting your hair done, do you? So, ask for references and check them out do not just go blindly into that good night.

This is what these experts do for a living, they help other people figure things out and then help them achieve their dreams. Becoming financially free is a big dream of a lot of people. You may even be one of them. I applaud you if you are and encourage you to think outside of the box when it comes to finding professional financial advice.

Online Debt Consolidation-Choose The One For You

Wednesday, June 6th, 2012

Getting help with your financial situation may be as close as a mouse click, or 5. Finding online debt consolidation services will take some time, but with all the options available to you, it won’t be hard. What will be hard is making sure you take some time to choose the best service for you and your needs.

If you aren’t really sure that you need this help, here is a quick checklist that may help clarify your situation and help you decide if online debt consolidation is necessary:

1. Do you have more expenses every month than you have income?

2. Do you have to juggle what bills you will pay each month so that your bills only get paid every other month and just in time to avoid legal action/

3. Are you only making minimum payments on your credit cards?

4. If you continue on the path you are on will it take you at least 5 years to be debt free?

If you’ve answered “yes” to most of these questions debt consolidation may be helpful for you. Having so much debt that you either can’t pay all your bills every month, or you have to only pay the bare minimum is a sure way to financial ruin.

I don’t mean to add to the stress I’m sure you are already feeling, but what would happen if you had some unexpected financial situation?

What if you got laid off, or hurt and you couldn’t work for a while? What happens if you had an expensive car or home repair bill?

You need to get out of debt, and the sooner the better. The sooner you start living within your means the more “wiggle” room in your monthly budget and the more relaxed you can be. It will be nice to be able to sleep at night, won’t it?

There are many sources online that can help you out, but there are also many services online that will gladly and happily screw you over and take your money.
Make sure that you don’t allow your desperation to make you let go of your common sense.

Take as much time as you need to find a quality service that will actually help you out and not just take your money and run.

For one thing, be very wary of any place that doesn’t have a physical address. Even online businesses have some sort of office that they are working out of.

If they don’t have any physical address at all, that may not be a good sign.

Another thing you can do is you can use an online yellow pages services for the city and state the company is in and see if they have a listing. If the company has gone to the trouble of getting a phone book listing, they may be more legitimate.

Also, check with the Better Business Bureau to see if that company has any complaints. If so, you may want to keep on looking.

Another potential red flag is if the company wants you to pay upfront even before they have looked over all your information.

These services won’t be able to help everyone and if they want money before they have had a change to check out your information, what happens if they can’t even help you? Will they give your money back? Personally, I wouldn’t count on it.

When dealing with online debt consolidation better to be safe than sorry.