Borrow Money From A Credit Union

Tuesday, December 11th, 2012

The recession and all the financial problems people have endured have been forcing people all across the nation to look for alternative methods for saving money. The banks tend to be at the forefront of this movement, as people are fed up with the way they are run. The Bank of America has won numerous “rewards” for being the worst business in America, so it should come as no surprise why people are looking elsewhere.

This is why Credit Unions have been making a lot of headway in recent years. People looking to Borrow Money from a credit union rather than a bank can expect a lot better service. Why do they get better service? Simple, a credit union is a non profit organization that is essentially run by it’s members. Those with accounts at a credit union can vote on how it is run.

Credit unions are there to serve you as best as possible. Banks are normal businesses, they sell their service and they want to make as much of a profit as they can. But a credit union does not have to worry about that. They just need to make enough to continue running. In a lot of cases, a credit union will actually return money to it’s customers if it earns more than it needs.

So for those looking to Borrow Money from a credit union, you might ask how you join one? Well unfortunately, credit unions are a bit exclusive. You have to meet certain criteria to be allowed to have an account with one. Not all credit unions are the same, and if you even have one in your area, it’s requirements may not be the same as other credit unions.

If you have a union in your area, you should look into what kind of requirements they have to see if you are eligible for joining. The criteria for joining can be all sorts of things, from your credit history, age, how long you have lived in the area, what your job is. Since they can be so diverse it is important to look for yourself.

If you are eligible to join your local credit union, you still may be a bit wary. If a bank gets robbed and your money stolen, you will be reimbursed. There is no real risk in leaving your money in a bank. You should be happy to know that this sort of thing also carries over to credit unions. Unions are also insured so that your money will be reimbursed should anything happen.

However, it is important to do your research. Make sure the credit union actually is insured before giving up any of your money. The last thing you want is to fall into a scam.

When looking to Borrow Money from a credit union you can expect superior service and lower fees and rates than at traditional banks. While difficult to join with their various requirements, they are almost always a better option than the banks are and can end up saving you a lot of money.

Stretching Your Money-Take Time To Find Out How

Wednesday, December 5th, 2012

Most of us, myself included, never really took the time to worry too much about finances. That is of course until the financial walls started tumbling down. Now, many people find themselves in some sort of trouble financially whether they are unemployed and can’t make ends meet, they may be under employed or they may just spend more than they make. Whatever your situation is you can find a lot of help stretching your money.

There are many ways you can wok on the problem and in this article I’m going to give you several methods you can use to get more out of your budget no matter how limited that budget may be.

Stretching your money can be about a lot more than clipping coupons, though that shouldn’t be underestimated.

Here are some other ideas to make your money go further. Some may be obvious others may be more obscure and some will make a bigger impact on your bottom line than others, but no matter what it can all make a difference.

Of course the most obvious is to pay down debt. You are most likely paying through the nose on interest rates for your credit cards. Getting that debt paid off as soon as possible will not only free up more money every month, it will also mean that you don’t grossly overpay for the things you buy.

When you go out and buy a new product because you need it and it is a bargain, it ends up being a lot less of a bargain when you pay 18% or even higher interest on that product for a year or more. That one time “bargain” has now become something that you totally wasted money on.

Learn how to shop better. I have a friend who complains about money and I told her that one thing she could do when so goes grocery shopping is to stop buying the name brand goods. Depending on what store you shop at, most of the store brands are every bit as good as the national brands but they cost a lot less. On occasion you may find something that you simply don’t like so you don’t buy that one thing again, but the majority of items will be the same.

The only difference you will notice is the amount of money you start to save each week.

To save money on gas make sure your car is tuned up, keep your tire pressure at the right amount and try to cut back on driving. Simple things that anyone can do. Plan your trips ahead of time and consolidate all your errands into one trip when possible.

Doing all these things will allow you to save money every month. You can probably save a few hundred dollars a month if you start making these simple changes. Then you can add that extra money to your minimum payments on your credit cards. Doing this will enable you to get out of debt sooner.

Stretching your money is not that hard. It will require you to make some changes and maybe a few sacrifices here and there but the relief you get from being in control of your finances will far outweigh any of the changes you have had to make.

Stock Market In Todays Economy-Search Engines For Advice

Monday, December 3rd, 2012

When you go to the search engines to do research on the term “stock market in todays economy” you will get a lot of advice about what you should invest your money in and what stocks you should avoid.

Much of this is traditional type advice, it’s the same thing you have been hearing for years from the self proclaimed “experts” of the day. The problem is that much of that information is wrong.

Recently I have started to educate myself about investing. I knew absolutely nothing about investing while I was married. We went to an adviser and we were told the same thing everyone else is told: to stay in for the long haul, that the market always tends to gain back any losses over time, etc.

After some painful, both financially and emotionally, losses I decided that maybe the information that most of us get isn’t complete or even accurate.

That is why I decided to look a little more closely. I started reading books about two of today’s top investors both of whom seem to have become extremely wealthy only on their own investments.

I like that idea. The guy we used to go to only made money when he got us, or any of his other clients, to invest in a certain stock or bond. He didn’t just live off the income he made with his own investments.

This is one of the first points I remember learning when I started doing my own research – why take advice about how best to invest my money from someone who isn’t “good” enough to live off their own investment?

I think that is a valid point and one you should carefully consider. Both of the investors I studied had similar outlooks on their money and how they invest. They have their own criteria that they use to decide what to invest in and what to steer clear of.

It is based on their own research and not what some talking head says. If the investment doesn’t meet their criteria they don’t invest in it… period.

When the market is too hot and all the stocks are overpriced, they don’t invest in it. Instead they will pull their money out and put it someplace safe. Perhaps they buy gold or perhaps they invest in Treasury bonds but they don’t leave it in the market.

They will stay out of the market as long as it takes to rebound. When a good stock, one that is undervalued and meets their criteria, becomes available they will buy it.

All of these things can be learned by any of us if we are willing to take the time. Here are a few things you need to take away from this article:

1. Knowledgeable investors don’t just “ride out” a bad economy. They get out early so they don’t lose any, or as much, and put their money elsewhere until the market provides more opportunities.

2. They don’t take advice from people who are paid only to give advice. Instead, they do their own research and make their own decisions.

3. They don’t follow the herds or the trends. They have learned from experience that most people get into the market right as it is heating up, which is the time these successful investors tend to get out.

Follow the winners, continue to educate yourself, learn from your experience and create your own criteria for when to buy and you can’t go wrong. If you build a solid foundation you will never have to ask yourself what to do with the stock market in todays economy, you will already know.