Bruised Onion Finance

Practical Personal Finance Tips and Advice

Financing A Car In A Shaky Economy – Dont Get Trapped

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There is no question that today’s economy could be doing better. However, even in this slump, financing a car probably isn’t quite as hard as you may think. In some ways, car dealers are tightening their purse strings and are more careful about lending money than they were just a few years ago. At the same time, though, their lower sales volume gives them more incentive to help people buy new cars.

But that doesn’t mean that automobile dealerships are the only place to go for financing a car. Big banks are actually not one of the best sources because of the changes they have made. On the other hand, credit unions, regional bank and other local lending institutions are all potential sources for getting car loans.

The good news about the bad economy is that it makes it a buyer’s market. Car dealers are offering various incentives and rebates to help move the inventory off their lots. Some of these incentives include low interest rates, keeping your payments lower, and reducing the overall amount you will spend over the life of your loan.

There is a catch, however. The best deals are only available to those customers with the best credit. Therefore, if you are financing a car, you should check into your credit report and correct any mistakes that may be there. Also, if you haven’t been doing so, start paying all of your bills on time. The longer you do this, the more your credit score will go up.

But don’t just take the best terms you can get at the first dealer you go to. The key is to find the best price on a car first, then go to other dealerships to get the best price and terms. See what they each offer and crunch the numbers to see which ones are best. But don’t stop there! Once you have a firm offer from one dealership, go back to a different dealership and see if they can beat the offer. Remember, they are interested in selling vehicles, and may be willing to go even lower than their previous best offer if they’re afraid you’re going to buy from a competitor.

Now there is another potential trap here, so be careful. You are not only comparing the prices of cars, you are also comparing the terms of the financing. One of the dirty little secrets of car sales is that a large portion of their profits are made on the interest rates they charge. Remember, you do not have to get a car loan through the dealership. You can go to a bank or credit union, and will usually get better rates. However, you also have to take into account any special dealer incentives that good skew the numbers back into their favor.

Another thing you can do when financing a car is to go online to compare offers from various lenders. This is convenient because instead of you going out to visit each potential lender, they come to visit you, although they do it virtually.

Financial Crisis And Help -Wake Up Call In Todays Economy

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If anything good has come out of this current economic downturn it is the fact that many of us have gotten a wake up call. We have learned the hard way that living beyond our means and up to our eyeballs in debt is not the best way to ensure our financial future, not to mention being able to get a good nights sleep! But the good thing is that financial crisis and help with finances are now a lot more readily available.

It’s sad but true, throughout history things haven’t gotten better until there was some sort of tragedy. Think of the lack of life boats on a cruise ship, no one bothered until the Titanic went down. The same is true today with the financial crisis and help.

Due to the economy and so many people losing their job, there are now plenty of resources where you can turn for help. If you want some information on how to get out of debt, make a budget you can live with or just become more financially educated, you can turn to many places for that help.

But if you want some actual financial assistance your options are a little harder to find and a little more limited due to the increased need. Many programs like food banks, are now stretched to the breaking point.

Personally, I think it is a good idea to start with what you already have. Instead of trying to get some money from a program that is probably running out of money, why not start to try to take better care of your finances?

Going this route, you don’t have to worry about the program running out of money. Instead you are making changes right from the source.

I have a friend who has a grown son who got behind on his student loan payments. When we started talking about it she asked me what her son could do. I told her I didn’t mean to sound insensitive but the truth is he had two choices: he could lower his debt or make more money.

That is about it. Since making more money isn’t likely at this point, he needs to spend his time finding ways to lower his debt. Many of us are in the same situation and it can seem hopeless but we might have more options than we realize.

Her son, for example, pays hundreds of dollars every month for an expensive phone and phone plan. My friend has actually gotten rid of her contract phone and is happily using a pay as you go phone. Her monthly phone bill is around and her son is paying over 0 a month.

So, there are things he can do to lower his overall expenses, he just needs to be willing to do them. I’ll bet if you are really honest with yourself you can find ways to cut your expenses too.

This is one of the simplest ways to give yourself a little breathing room. The more money you free up the more money you can save or apply to paying down other debt. It will take time but you can find yourself in a much better financial situation over time.

Financial crisis and help tend to go hand in hand. It seems like the worse things get, the more help is available. Get the help you need to avert any more financial crises in your life.

How To Save Money In This Economy

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Managing your personal finances responsibly can seem difficult at times, but there are a few simple steps that you can take to make the process easier. Read this article to learn more about budgeting your money, so that you can pay off the necessary bills before purchasing other things that you want.

In order to manage your personal finances properly, it is crucial to establish and maintain a monthly budget. This budget should contain line items for everyday expenses and revenue streams. By analyzing where you spend most of your money, you will be better able to control your expenses and pay your bills on time.

Before you make an investment, take the time to meet with a financial planner and develop an investment policy statement. A good statement will help you avoid the pitfalls of investing, and will help you make investment choices that are right for you. If you’re educated about investing, you may be able to put together a statement on your own.

Use a card for small purchases each month such as groceries and gas and pay it off or pay off a majority of the balance each month. This will show creditors that you are capable of handling your card and being responsible with payments. Doing this on a regular basis will help to repair that bad credit score that you currently have.

A great way to avoid being overburdened by expenses that only come around once a year is to set aside a little money out of each paycheck. To do this, divide your yearly expenses by the number of paychecks you receive in a year. The next time the expense is due, you’ll be ready for it.

Always look for ways to save. Audit yourself and your bills about once every six months. Take a look at competing businesses for services you use, to see if you can get something for less. Compare the cost of food at different stores, and make sure you are getting the best interest rates on your credit cards and savings accounts.

To find real space in your personal finance, stop thinking about income and expenses at the same time. It is essential to track every penny of both, but if you pay attention to them simultaneously, all you end up doing is balancing your budget and not saving anything. Cap your expenses at 70% of your income and see the difference.

Diversify your investments using mutual funds. It’s difficult and expensive for a small investor to create a diversified portfolio using individual securities, but a no-load mutual fund can provide instant diversification at low cost. You can invest as little as 00 in a fund that holds anywhere from 20 to several hundred securities, for an annual fee as low as 1%. Diversification helps to lower investment risk by reducing dependence on any one security to provide a favorable return.

As said in the beginning of the article, it’s very important to pay off necessary items, like your bills, before purchasing anything for fun, including dates or new movies. You can make the most of your money, if you budget and track how you are spending your income each month.

Financial Crisis And Help -Wake Up Call In Todays Economy

By Leave a Comment

If anything good has come out of this current economic downturn it is the fact that many of us have gotten a wake up call. We have learned the hard way that living beyond our means and up to our eyeballs in debt is not the best way to ensure our financial future, not to mention being able to get a good nights sleep! But the good thing is that financial crisis and help with finances are now a lot more readily available.

It’s sad but true, throughout history things haven’t gotten better until there was some sort of tragedy. Think of the lack of life boats on a cruise ship, no one bothered until the Titanic went down. The same is true today with the financial crisis and help.

Due to the economy and so many people losing their job, there are now plenty of resources where you can turn for help. If you want some information on how to get out of debt, make a budget you can live with or just become more financially educated, you can turn to many places for that help.

But if you want some actual financial assistance your options are a little harder to find and a little more limited due to the increased need. Many programs like food banks, are now stretched to the breaking point.

Personally, I think it is a good idea to start with what you already have. Instead of trying to get some money from a program that is probably running out of money, why not start to try to take better care of your finances?

Going this route, you don’t have to worry about the program running out of money. Instead you are making changes right from the source.

I have a friend who has a grown son who got behind on his student loan payments. When we started talking about it she asked me what her son could do. I told her I didn’t mean to sound insensitive but the truth is he had two choices: he could lower his debt or make more money.

That is about it. Since making more money isn’t likely at this point, he needs to spend his time finding ways to lower his debt. Many of us are in the same situation and it can seem hopeless but we might have more options than we realize.

Her son, for example, pays hundreds of dollars every month for an expensive phone and phone plan. My friend has actually gotten rid of her contract phone and is happily using a pay as you go phone. Her monthly phone bill is around and her son is paying over 0 a month.

So, there are things he can do to lower his overall expenses, he just needs to be willing to do them. I’ll bet if you are really honest with yourself you can find ways to cut your expenses too.

This is one of the simplest ways to give yourself a little breathing room. The more money you free up the more money you can save or apply to paying down other debt. It will take time but you can find yourself in a much better financial situation over time.

Financial crisis and help tend to go hand in hand. It seems like the worse things get, the more help is available. Get the help you need to avert any more financial crises in your life.

Financing A Car In A Shaky Economy – Dont Get Trapped

By Leave a Comment

There is no question that today’s economy could be doing better. However, even in this slump, financing a car probably isn’t quite as hard as you may think. In some ways, car dealers are tightening their purse strings and are more careful about lending money than they were just a few years ago. At the same time, though, their lower sales volume gives them more incentive to help people buy new cars.

But that doesn’t mean that automobile dealerships are the only place to go for financing a car. Big banks are actually not one of the best sources because of the changes they have made. On the other hand, credit unions, regional bank and other local lending institutions are all potential sources for getting car loans.

The good news about the bad economy is that it makes it a buyer’s market. Car dealers are offering various incentives and rebates to help move the inventory off their lots. Some of these incentives include low interest rates, keeping your payments lower, and reducing the overall amount you will spend over the life of your loan.

There is a catch, however. The best deals are only available to those customers with the best credit. Therefore, if you are financing a car, you should check into your credit report and correct any mistakes that may be there. Also, if you haven’t been doing so, start paying all of your bills on time. The longer you do this, the more your credit score will go up.

But don’t just take the best terms you can get at the first dealer you go to. The key is to find the best price on a car first, then go to other dealerships to get the best price and terms. See what they each offer and crunch the numbers to see which ones are best. But don’t stop there! Once you have a firm offer from one dealership, go back to a different dealership and see if they can beat the offer. Remember, they are interested in selling vehicles, and may be willing to go even lower than their previous best offer if they’re afraid you’re going to buy from a competitor.

Now there is another potential trap here, so be careful. You are not only comparing the prices of cars, you are also comparing the terms of the financing. One of the dirty little secrets of car sales is that a large portion of their profits are made on the interest rates they charge. Remember, you do not have to get a car loan through the dealership. You can go to a bank or credit union, and will usually get better rates. However, you also have to take into account any special dealer incentives that good skew the numbers back into their favor.

Another thing you can do when financing a car is to go online to compare offers from various lenders. This is convenient because instead of you going out to visit each potential lender, they come to visit you, although they do it virtually.

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