Posts belonging to Category Financial Tools

5 Ways To Successfully Fail At Personal Finance

Guest post by Jonny Pean

Financial failureSo you are an acclaimed spendthrift and saving is just not in your genes. A shopkeeper’s favorite customer, your savings account is always in a dry spell and sales exhaust your paycheck. If you feel that you possess any of the described symptoms, then I must congratulate you; after all, you have the potential of becoming the next financial disaster. Here in this article we have discussed five ways which will surely turn you bankrupt:

  1. Throw a party after every paycheck: Who doesn’t love parties? If you are a hardcore party animal who can’t resist to party on the first of every month then it’s a frank warning that you are heading towards your financial doomsday. We all have temptations and window shopping is certainly de-stressing but an unhappy fact of life is that the mall is not the only place to spend your salary. Those who take this advice have enough savings for rainy days while others face a bleak future.
  2. Make deals with family and friends: It is very true that blood is thicker than water but even truer is the fact that money rules the roost. Doing deals with friends and relatives not only puts your relations in danger but is also very draining for your finances.
  3. Fall in love with EMI: If EMI, or equated monthly installments, tops your budget planning and taking loans is your second nature then probably you are the worst financial planner alive. Taking a loan might be necessary but is not to be cultivated into a habit.  Instead of using your credit card or debit card, start using real money. Start saving your funds and use them instead of borrowing money. This will not only be a wise decision but will also guarantee you a safe future.
  4. Be a guarantor for your friends: Friends are special but cosigning a loan for every second friend is not that special. Being a guarantor means added responsibility, however trustworthy your friend might be.
  5. Do not plan for your retirement: You are just thirty and retirement is ages away. Planning a retirement fund is certainly not on your priority list but a day will come when you will have to face this day. Not having sufficient funds in your old days might present you with all new problems which you cannot imagine now.

Since you now know the debacles of a financial failure, be wise enough to avoid them. Check out the articles on Jonny Pean's personal finance blog at

Debt Consolidation Solutions

Guest post by Mark Parker

Christian debt consolidation solutions aim at providing ultimate solutions to fellow catholic communities who are burdened with debt. Piling up debt can be quite uncomfortable for one and all. In order to sustain a better financial portfolio, debtors should ideally seek out Christian debt consolidation solutions all the time. The basic premise behind Christian debt consolidation solution is that it will consolidate debt from various credit sources and present competitive payment terms and lower interest rates to the debtors in just about no time at all. As a result, managing debt becomes a lot easier and a streamlined process. 

Christian debt consolidation solutions can be powered through with the help from expert debt consolidators and financial advisors. Based on the risk profile, debt consolidation quotations can be provided to the debtors in just about no time at all. Christian debt consolidation solutions are known to have been offering cutting edge debt management solutions to those who are in-debt burden. The smarter solutions have indeed helped millions of debtors in a seamless manner. Debtors have appreciated the intrinsic fact of a debt consolidation program viz. to provide substantial savings to the debtors though Christian debt consolidation initiatives.

In order to ensure longer term benefits it is imperative to seek services from reliable Christian debt consolidation providers at all times. This will power through the liquidity crunch portfolio with ample positive cash flows and at the same time will ensure that the monthly debt payments are delivered to the creditors without fail. Christian debt consolidation solutions can provide a win-win scenario for both debtors and creditors. 

Debtors generally get to benefit from lowered interest rates on the go in just about no time at all. Whereas the creditors can be rest assured of their timely payment schedules because of a Christian debt consolidation solutions. In quest to reach to more audience in shorter span of time, online channels can also be explored for Christian debt consolidation solutions. These can provide competitive landscape of solutions to one and all in a fair manner. Prospective borrowers can get to earn endlessly from online Christian debt consolidation solutions. 

They can iteratively play around with the risk factors and input parameters in order to arrive at the best in class competitive interest rates on Christian debt consolidation programs in just about no time at all. Get going and benefit from Christian debt consolidation programs on the go in order to power through financial concerns.

Mark Parker is a contributory writer associated with the Debt Consolidation Care Community and has written several articles for various financial websites. He holds his expertise in the Debt industry and has made significant contribution through his various articles.

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Giveaway Reminder: 5 Winners of Extreme Finance Package

The Best Recovery for a Financial Hangover – Part 4 of 4

Seven Resolutions to Begin in 2010

  1. Control spending: If you spend less you'll have more money available to pay down debt and save for the future. Write down your expenses for a month to see where your money is going. You might be surprised by how easy it is to find places to scale back.
  2. Create a debt repayment plan: If you carry credit card debt, write down everything you owe and make a plan to pay it off. Start with small items you can act on right away–it will make tackling the bigger debt easier. Also, try buying with cash only. It’s a sure-fire way to prevent increases in your credit card debt.
  3. Set up auto-savings plans: Arrange with your bank or another financial institution to have a set amount deducted from your checking account to a savings account each pay period. Of the Americans who have been able to contribute to emergency savings funds, automatic withdrawal is the most popular method, according to the Consumer Federation of America.
  4. Boost retirement savings: If your employer offers a 401(k) plan, increase your contributions. If you don't have an employer plan, open an Individual Retirement Account (IRA) and arrange for contributions to be made automatically from your checking or savings account.
  5. Create a long-term plan: Write a list of your long-term goals, such as buying a home or saving for college or retirement. Visit the Life Events section of Smart About Money for concrete tips on accomplishing those goals.
  6. Protect Yourself: Be prepared for the unexpected by making sure you, your family, your assets and investments are insured and fully covered. If you do not have a will, make 2010 the year you establish a life plan.
  7. Find a financial buddy: Share your financial resolutions with a friend, colleague, or family member, and you’ll be more likely to keep them. Find someone else who wants to turn around their debt or cut their spending, and establish a mutual support system.

The Best Recovery for a Financial Hangover – Part 3 of 4

Tackling the Little Things

Getting debt under control and improving savings habits are two big steps to a better financial life, but those actions only are possible if Americans have more specific aspects of their financial lives under control.

While the economy recovers, job stability remains a vast and very valid concern. Without income, saving stops and debt can spiral. Even if they still have a job, Americans need to assess their marketability and increase their professional value by networking and upgrading job skills.

If someone experiences a job loss, it’s important to be proactive. They should negotiate severance pay, file for unemployment benefits and look into alternative insurance plans, because living unprotected will risk their family’s security. Individuals who have lost their jobs also should immediately start looking for work. Most states allow people to work a certain number of hours, and earn up to half their previous income, and still retain unemployment benefits.

Those who are struggling financially also might find it difficult to pay their mortgage. If individuals have missed a payment, they should immediately search through financial records or identify spending habits to find out what caused the missed payment. They also should contact their lender, who is required to examine their client’s financial life before taking any drastic action against the client’s home.

Even without a job loss or mortgage trouble, it’s time for Americans to involve their entire family in assessing the household budget. Tracking spending for a month will reveal some easy places to cut back without causing any significant lifestyle changes. Turning off lights and appliances, cutting down on weekend trips and dinners out and eliminating habits such as smoking all will help reduce household spending. And, it will give the family a head start on saving in case of emergencies.

For Americans to recover, maintain or rebuild their financial lives after this recession, they need to make permanent changes so they’re prepared for any future trouble in the economy. Identifying areas in which they are struggling, scrutinizing bills and spending habits and prioritizing aspects of their financial lives will help individuals create a proactive financial plan to last the whole year, and beyond.

Next Up: Seven Resolutions