Archive for June, 2010

  • Leveraging Debt>
    Leveraging Debt
    In January 2010, I had written down many new year resolutions, and one of them was eliminating debt. In my opinion, debt has to be dreaded, not simply because you have to pay more later, but you don’t ever get to know the reality. Usage of credit card is quite gratifying. In most cases, however, it’s unnecessary and expensive. The more you borrow, the more you have to pay. On the other hand, businesses use debt to generate profit. They, with the help of huge research team, borrow money and invest in products that would provide guaranteed results. I like this idea. If you know few products that would certainly derive benefits, borrowing money ad investing it is okay. There are few things you and me can buy borrowing money, which can be used in our day to day life. Let’s check  [...]
    at June 30th, 2010 at 03:06 am
  • Money or Happiness?>
    Money or Happiness?
    Being happy doesn’t depend on number of dollars we have in our pocket. It’s a psychological concept. Rich and poor, both can be happy. However, we make statements like ‘Being happy is better than being rich’, when we have money. But being rich gives us the freedom and privilege to do things that makes us happy. Being rich gives us the power to do things that we want to do. In many parts of world, people slog whole day simply to earn money equivalent to a couple of dollars. The work for more than 12 hours a day, hardly sparing any time to spend with their family. Yet, when we ask these people if they are happy, they say they are. The fact is, some are happy, many are not. But they move on with life. For those people, happiness simply means earning enough to satisfy their  [...]
    at June 28th, 2010 at 01:06 am
  • I Have Quit My Job!>
    I Have Quit My Job!
    I have resigned last evening, and by the end of July 2010, I will be at home, without any stress. Quitting a job, however, is quite a scary situation. And before you make this decision, make sure you have things in place. If you are planning on early retirement, there are several things you need to consider. Why I did I make such a decision? Here are some reasons. Individually, they might not be quite powerful, but they all balled together. More Time to Family Managing a full-time job, and few personal blogs had made my life quite hectic. And I simply wasn’t able to devote any time to my family, which my wife keeps grumbling about, all the while. Besides, I have two kids, whom I want to spend more time with. More Time to Write Every individual has personal preferences, or some hobbies.  [...]
    at June 23rd, 2010 at 01:06 am
  • Whoever Said ‘Money Can’t Buy Happiness’>
    Whoever Said ‘Money Can’t Buy Happiness’
    We have heard it many times, but whoever says it is either very poor, or very wealthy. Poor says it because they aren’t able to get more money. Most of their trouble is due to money. Don’t you think money wouldn’t be able to bring happiness in their lives? Most certainly, it would. On the other hand, the super rich doesn’t have to worry about things. They have enough to give $1,000 charity every month, buy a new car as soon as it is launched, and still left with lots. If they have to take a bus to workplace every day, get irritating creditors calls, and pay credit card bills with penalties, when all they are left with is $200 to meet all the monthly expenses, they would know what real problems are. They simply tell you this because they want to be one of the ‘middle  [...]
    at June 18th, 2010 at 03:06 am
  • Challenge Your Credit Card Application Denial>
    Challenge Your Credit Card Application Denial
    Due to the recent economic crisis, it has become quite difficult to get a mortgage, vehicle loan, and even a credit card. If you a bad credit score, it’s very difficult. But if you have a good score, yet your credit card application gets rejected, you have to right to challenge it. Get a Copy of Your Credit Report Under current credit law, you are entitled to receive one copy of your credit report from each of the three credit bureaus (Trans Union, Equifax, and Experian) without any cost. Once you receive you rejection letter, find out which credit bureau provided information to the creditor. Now, send a copy of your credit report and the rejection letter, along with a letter that mentions your personal details including name, address, Social Security, and so on, which makes it easier  [...]
    at June 16th, 2010 at 05:06 am
  • Tax Sheltered Annuity Plans For Retirement>
    Tax Sheltered Annuity Plans For Retirement
    Tax Sheltered Annuity, or simply a TSA, is a plan that permits employees of public organizations to contribute some amount every month, without paying taxes on it. So, the contributor can invest of part of his gross annual income toward a tax-sheltered plan (403(b) or TSAs). People who are eligible to contribute toward such plan includes employees in public schools (1 to 12), universities, colleges, churches, charity organizations, and libraries. The contributor must keep investing in this plan until the age of retirement (59 ½ years) to receive tax benefits. If he withdraws money after retirement age, taxes applicable on such withdrawals are comparatively low. The funds toward which the contributor has to pay is usually chosen by the employer. Quite similar to other retirement plans, transfer  [...]
    at June 14th, 2010 at 03:06 am
  • Why Do You Need a Business Credit Card?>
    Why Do You Need a Business Credit Card?
    Excessive usage of credit card is certainly harmful for your personal finance and your credit report. However, if used limitedly, and wisely, it can help you and your business tremendously. Having a business credit card is convenient, especially for small businesses. In my case, I am depended on business credit cards to a large extent. I own several business websites, and most of the transactions involve online payment. Hence, I am left with very few payment options: credit card, debit card, business checks, and PayPal account. Among these options, a business card is an obvious choice because it provides better protection as compared to other payment options. These cards also offers rewards and cash back benefits, which most debits cards don’t. Hence, along with making business payments,  [...]
    at June 11th, 2010 at 07:06 am
  • Simplifying Savings>
    Simplifying Savings
    One of the main causes of recent economic crisis in our country was that we did not have the habit of SAVING. Whenever we had money in our hands, we would instantly spend it, without thinking about the future or our financial position. We were all used to being highly dependent on credit cards and used to spend more than we actually had to begin with. Let us forget about all the mistakes we made earlier, and now start afresh. So, in the present situation, each one of us is aware about the importance of savings in today’s life. The importance of savings has been clearly established, but one question keeps hanging above our heads, like a ticking pendulum. HOW CAN I SAVE MONEY? Here are simple ways to do it. 1.      KEEP A TAB Note down all your expenses in a journal. List it according  [...]
    at June 10th, 2010 at 01:06 pm
  • Home Improvement as a Long Term Investment>
    Home Improvement as a Long Term Investment
    For many, upgrading home is a weekend hobby. However, if this activity is performed appropriately, it can improve the overall value of your home, and can help you receive higher profit when sold. Thus, it can be good long term investment. For those who are mulling over the idea of selling their homes or are about to sell it, you must consider some of the below mentioned home improvement solutions. One of the most popular things people love in their homes is a proper heating system. Hence, installing latest heating systems would increase the value of your home. Similarly, if you house has a posh kitchen with several automated appliances, it can be easily sold at a higher price. You don’t have to improve only things that are mentioned in this article. Simply close you eyes, and imagine a kind  [...]
    at June 7th, 2010 at 01:06 am
  • Personal Financial Planning Made Simpler>
    Personal Financial Planning Made Simpler
    Why do you want to make your personal financial planning process difficult, if it can be done in a simpler way? I am about to mention few tips to manage your money efficiently, which may sound over-simplified and repetitive. The fact is, however, these tips are always simple. The only things you need to adopt are consistency and discipline. 1.    Save Some Money Every Month, and Invest Most people, as soon as they receive their paycheck, don’t even plan how to utilize the money. They simply keep spending. There is no harm even if you continue the habit to spending carelessly. Just save some amount every month and invest in products that would reap benefits over time. This is important for personal financial planning. 2.    Have a Budget Simply knowing where all your money goes every  [...]
    at June 4th, 2010 at 04:06 am