Why You Should Refinance Your Credit Card
By Max Hunter
Getting the Right Rate Can Save YOU Thousands
A credit card debt can be like the worst sort of trap. Like a
wound that won’t heal, a monthly minimum payment – with
ceaseless regularity and endless strain on your budget – leaves
your account. It’s to pay for the Christmas shopping, or the
last July 4th party, or your holiday two years ago. You don’t
know; frankly you care less – you just want to see it gone. But
when your next statement arrives, the hole your minimum payment
should have burned in your debt is no smaller – the sore
remains unclosed.
Is this situation familiar? Is it you?
If it is, you’ve not heard the worst of it yet. The way that
credit card companies exist and thrive is by exploiting your
debt burden. They’ll lend and lend and lend, until you get to
the point that the most you can pay back each month is the
minimum payment – usually around 2.5 per cent of the balance.
The problem with this is that they hit you with a load of
interest, sometimes amounting to 2 per cent of the balance. If
only one half of a per cent is being paid back it doesn’t take
much math to figure out the amount of time it could take you to
pay back your debts.
In fact, if you’re paying repayment insurance, in some
instances you can pay back less than the amount of debt
accumulating.
It’s a horrible, self-perpetuating cycle of hemorrhaging money,
but the good news is twofold.
First off, you’re not alone. Thousands upon thousands of
decent, hard-working Americans are in this position through no
fault of their own but necessity and the demands of modern
living.
Secondly, if you’re stuck in this horrible cycle of bleeding
money, the chances are that it can be at least partially
redressed. Many Americans have – and still do – unwittingly
signed up to credit card deals that are uncompetitive,
over-priced and unnecessarily expensive. What many don’t
realize, is that simply because you have pledged allegiance to
a particular credit card company doesn’t mean to say that you
are stuck with them for life. There’s a way out that can save
you hundreds, if not thousands of dollars a year and help you
pay off your debt burden more quickly.
Transferring the balance of your credit card to another one is
a way of paying off your existing debt with a new credit card
that you take on at a cheaper rate. In many cases this can be
set at 0 per cent for a period of a number of months, before
reverting to a higher rate. By switching to such a card – and
then another at the end of the interest free term, and maybe
even another after that, it gives you a clear run at reducing
your debt, without it spiraling ever further upwards. Even if
you’re still only paying 2.5 per cent off the balance a month,
far better to do that than knocking off one half of a per cent,
or less.
By bundling up the old expensive credit card debt, getting rid
of it, then paying back the new credit card at a lower rate,
you can save countless dollars each month. You can save even
more money by paying a bit more each month, thus clearing the
debt in a shorter time. By doing this you’ll free up more
dollars further down the line enabling you to spend them on
something really nice.
Unfortunately, 0% deals are not always available to all
customers. If you’ve got a credit rating that’s in some way
below scratch, it is probably unlikely that a 0% credit card
will be made available to you. It’s a sad fact of finance that
the best deals seem to always be available for those who need
them the least.
That said, there are a number of other excellent credit cards
on the market through which you can save many dollars. Even if
a balance transfer rate is as high as 10 or 12 per cent, if
you’re paying upwards of 20 per cent on your existing deal then
you’re clearly going to save a stack of money – even if it’s not
as much as you might have liked.
If you’re concerned about how much you’re paying each month on
your credit card repayment it certainly pays to check out your
existing interest rates and compare them to some of the balance
transfer rates available at competitors: it’s almost a certainty
that you’ll save yourself more than a few dollars.
Even if you’re not worried about your existing credit card
deal, it’s worth checking out the market to see if you can get
a better deal. Complacency doesn’t pay, but a bit of awareness
can save you a lot.
About the Author: Max Hunter is the author of many credit
related articles. If you are looking for help with Home Loans
or any other type of credit issue please visit us at
http://www.creditcardunlimited.com
Source: http://www.isnare.com
Monday, May 14, 2007
Saturday, May 12, 2007
Credit Card Terminal
Credit Card Debt Problems
By Ethan Hunter
What to Do If You Hit the Debt Mire
When debt goes bad, it becomes more than just a financial
problem. It can take over your life. If you have a debt problem
the earlier it is handled and dealt with, the less likely it’ll
turn into a crisis, and the more money you’ll save in the
fullness of time.
The very nature of borrowing means that interest increases over
time and if it isn’t dealt with promptly, it can spiral out of
control and land you into trouble. Particularly with credit
cards, when interest payments are large, and a minimum payment
offers a seemingly manageable solution; what is actually
happening is this: the balance is being eroded like the sea
bites away at the shore. It’ll disappear into the ocean
eventually, but might take many years to do so. What you need
is a more radical approach, where chunks of debt are eaten away
each month.
Being in debt can be a stressful time. Many people are scared
to tell husbands, wives, friends – anyone. There’s a kind of
stigma attached to the problem, but there is always a way out.
Traditional debt advice proscribes borrowing your way out of a
problem. Yet this ignores the reality of most debts. A more
advisable and realistic approach would be to never borrow more
to get out of debt trouble. If it is possible to borrow more
cheaply elsewhere to replace existing borrowing and consolidate
your debt, then this is an eminently sensible approach.
The first step should always be to work out your monthly
outgoings and try and trim down your spending on luxuries and
things you can do without. This doesn’t mean you have to live
the life of a monk and forgo all worldly pleasures! But by
adopting sensible spending patterns you can redirect some of
your monthly income into paying off your outstanding balances.
Always keep at the front of your mind the fact that the longer
the debt smolders away, the more you spend in interest
payments.
Those with big debts may save thousands a year in interest by
reconsidering their borrowing commitments. Do this in three
ways:
i) Lower the interest if possible by moving your debts to
reduce the interest cost.
ii) Pay the worst first: prioritize paying off the highest
interest rate debts first
iii) Utilize any free debt advice there is. A non-commercial
agency will give you good advice, focus you on your priorities,
and place any problems in context. Things may not be as bad as
they first seem.
Of course, there’s other basic, practicable things you can do
on your own. It's incredibly important to get on top of credit
card debts as soon as possible. Don't default or miss payments.
Let the credit card company know if you are going to be unable
to pay – it’s always better to talk to them than putting your
head in the sand.
If things aren’t that bad, there’s a variety of easy strategies
you can implement that will help ease things for you. Consider a
credit card balance transfer to a lender offering a lower rate
of APR. This will mean you spend less on interest payments each
month and start to attack the overall balance with real venom.
You could take out an unsecured loan as a way of consolidating
your debt. Personal loans can give you a consistent cheap debt,
and as you must make the repayments each month, it helps provide
structure to your repayments. Those with poorer credit scores
might not always get decent rates, but it’s still often a
cheaper option than paying back credit card debt each month,
and overall a faster method of repayment.
If you have them, use savings: The interest paid on savings is
usually far less than interest charged on borrowing, so paying
off debts with savings makes eminent sense. Even if you think
of your savings as an ‘emergency cash fund’ or money for the
future, better to fall back on it in the short term and pay it
back later, than paying interest to a credit card company so
that money for some far flung eventuality is at your disposal.
It’s worth mentioning that for many people, credit cards
provide sensible short term, flexible lending, that’s both
cheap and convenient. You should always try and proceed
cautiously, but credit card debt woes are not an inevitable
consequence of taking them out. Tens of millions of Americans
use credit cards cheaply and conveniently every year.
For those who feel they are in trouble, don’t feel stigmatized
by your debt woes and don’t pretend they’re not there. Help is
at hand should you seek it, and a solution is never far away.
About the Author: Ethan Hunter is the author of many credit
related articles. If you are looking for help with Home Loans
or any type of credit issue please visit us at
http://www.creditcardunlimited.com
Source: http://www.isnare.com
By Ethan Hunter
What to Do If You Hit the Debt Mire
When debt goes bad, it becomes more than just a financial
problem. It can take over your life. If you have a debt problem
the earlier it is handled and dealt with, the less likely it’ll
turn into a crisis, and the more money you’ll save in the
fullness of time.
The very nature of borrowing means that interest increases over
time and if it isn’t dealt with promptly, it can spiral out of
control and land you into trouble. Particularly with credit
cards, when interest payments are large, and a minimum payment
offers a seemingly manageable solution; what is actually
happening is this: the balance is being eroded like the sea
bites away at the shore. It’ll disappear into the ocean
eventually, but might take many years to do so. What you need
is a more radical approach, where chunks of debt are eaten away
each month.
Being in debt can be a stressful time. Many people are scared
to tell husbands, wives, friends – anyone. There’s a kind of
stigma attached to the problem, but there is always a way out.
Traditional debt advice proscribes borrowing your way out of a
problem. Yet this ignores the reality of most debts. A more
advisable and realistic approach would be to never borrow more
to get out of debt trouble. If it is possible to borrow more
cheaply elsewhere to replace existing borrowing and consolidate
your debt, then this is an eminently sensible approach.
The first step should always be to work out your monthly
outgoings and try and trim down your spending on luxuries and
things you can do without. This doesn’t mean you have to live
the life of a monk and forgo all worldly pleasures! But by
adopting sensible spending patterns you can redirect some of
your monthly income into paying off your outstanding balances.
Always keep at the front of your mind the fact that the longer
the debt smolders away, the more you spend in interest
payments.
Those with big debts may save thousands a year in interest by
reconsidering their borrowing commitments. Do this in three
ways:
i) Lower the interest if possible by moving your debts to
reduce the interest cost.
ii) Pay the worst first: prioritize paying off the highest
interest rate debts first
iii) Utilize any free debt advice there is. A non-commercial
agency will give you good advice, focus you on your priorities,
and place any problems in context. Things may not be as bad as
they first seem.
Of course, there’s other basic, practicable things you can do
on your own. It's incredibly important to get on top of credit
card debts as soon as possible. Don't default or miss payments.
Let the credit card company know if you are going to be unable
to pay – it’s always better to talk to them than putting your
head in the sand.
If things aren’t that bad, there’s a variety of easy strategies
you can implement that will help ease things for you. Consider a
credit card balance transfer to a lender offering a lower rate
of APR. This will mean you spend less on interest payments each
month and start to attack the overall balance with real venom.
You could take out an unsecured loan as a way of consolidating
your debt. Personal loans can give you a consistent cheap debt,
and as you must make the repayments each month, it helps provide
structure to your repayments. Those with poorer credit scores
might not always get decent rates, but it’s still often a
cheaper option than paying back credit card debt each month,
and overall a faster method of repayment.
If you have them, use savings: The interest paid on savings is
usually far less than interest charged on borrowing, so paying
off debts with savings makes eminent sense. Even if you think
of your savings as an ‘emergency cash fund’ or money for the
future, better to fall back on it in the short term and pay it
back later, than paying interest to a credit card company so
that money for some far flung eventuality is at your disposal.
It’s worth mentioning that for many people, credit cards
provide sensible short term, flexible lending, that’s both
cheap and convenient. You should always try and proceed
cautiously, but credit card debt woes are not an inevitable
consequence of taking them out. Tens of millions of Americans
use credit cards cheaply and conveniently every year.
For those who feel they are in trouble, don’t feel stigmatized
by your debt woes and don’t pretend they’re not there. Help is
at hand should you seek it, and a solution is never far away.
About the Author: Ethan Hunter is the author of many credit
related articles. If you are looking for help with Home Loans
or any type of credit issue please visit us at
http://www.creditcardunlimited.com
Source: http://www.isnare.com
Friday, May 11, 2007
Credit Card Terminal
Credit Card Debt Problems
By Ethan Hunter
What to Do If You Hit the Debt Mire
When debt goes bad, it becomes more than just a financial
problem. It can take over your life. If you have a debt problem
the earlier it is handled and dealt with, the less likely it’ll
turn into a crisis, and the more money you’ll save in the
fullness of time.
The very nature of borrowing means that interest increases over
time and if it isn’t dealt with promptly, it can spiral out of
control and land you into trouble. Particularly with credit
cards, when interest payments are large, and a minimum payment
offers a seemingly manageable solution; what is actually
happening is this: the balance is being eroded like the sea
bites away at the shore. It’ll disappear into the ocean
eventually, but might take many years to do so. What you need
is a more radical approach, where chunks of debt are eaten away
each month.
Being in debt can be a stressful time. Many people are scared
to tell husbands, wives, friends – anyone. There’s a kind of
stigma attached to the problem, but there is always a way out.
Traditional debt advice proscribes borrowing your way out of a
problem. Yet this ignores the reality of most debts. A more
advisable and realistic approach would be to never borrow more
to get out of debt trouble. If it is possible to borrow more
cheaply elsewhere to replace existing borrowing and consolidate
your debt, then this is an eminently sensible approach.
The first step should always be to work out your monthly
outgoings and try and trim down your spending on luxuries and
things you can do without. This doesn’t mean you have to live
the life of a monk and forgo all worldly pleasures! But by
adopting sensible spending patterns you can redirect some of
your monthly income into paying off your outstanding balances.
Always keep at the front of your mind the fact that the longer
the debt smolders away, the more you spend in interest
payments.
Those with big debts may save thousands a year in interest by
reconsidering their borrowing commitments. Do this in three
ways:
i) Lower the interest if possible by moving your debts to
reduce the interest cost.
ii) Pay the worst first: prioritize paying off the highest
interest rate debts first
iii) Utilize any free debt advice there is. A non-commercial
agency will give you good advice, focus you on your priorities,
and place any problems in context. Things may not be as bad as
they first seem.
Of course, there’s other basic, practicable things you can do
on your own. It's incredibly important to get on top of credit
card debts as soon as possible. Don't default or miss payments.
Let the credit card company know if you are going to be unable
to pay – it’s always better to talk to them than putting your
head in the sand.
If things aren’t that bad, there’s a variety of easy strategies
you can implement that will help ease things for you. Consider a
credit card balance transfer to a lender offering a lower rate
of APR. This will mean you spend less on interest payments each
month and start to attack the overall balance with real venom.
You could take out an unsecured loan as a way of consolidating
your debt. Personal loans can give you a consistent cheap debt,
and as you must make the repayments each month, it helps provide
structure to your repayments. Those with poorer credit scores
might not always get decent rates, but it’s still often a
cheaper option than paying back credit card debt each month,
and overall a faster method of repayment.
If you have them, use savings: The interest paid on savings is
usually far less than interest charged on borrowing, so paying
off debts with savings makes eminent sense. Even if you think
of your savings as an ‘emergency cash fund’ or money for the
future, better to fall back on it in the short term and pay it
back later, than paying interest to a credit card company so
that money for some far flung eventuality is at your disposal.
It’s worth mentioning that for many people, credit cards
provide sensible short term, flexible lending, that’s both
cheap and convenient. You should always try and proceed
cautiously, but credit card debt woes are not an inevitable
consequence of taking them out. Tens of millions of Americans
use credit cards cheaply and conveniently every year.
For those who feel they are in trouble, don’t feel stigmatized
by your debt woes and don’t pretend they’re not there. Help is
at hand should you seek it, and a solution is never far away.
About the Author: Ethan Hunter is the author of many credit
related articles. If you are looking for help with Home Loans
or any type of credit issue please visit us at
http://www.creditcardunlimited.com
Source: http://www.isnare.com
By Ethan Hunter
What to Do If You Hit the Debt Mire
When debt goes bad, it becomes more than just a financial
problem. It can take over your life. If you have a debt problem
the earlier it is handled and dealt with, the less likely it’ll
turn into a crisis, and the more money you’ll save in the
fullness of time.
The very nature of borrowing means that interest increases over
time and if it isn’t dealt with promptly, it can spiral out of
control and land you into trouble. Particularly with credit
cards, when interest payments are large, and a minimum payment
offers a seemingly manageable solution; what is actually
happening is this: the balance is being eroded like the sea
bites away at the shore. It’ll disappear into the ocean
eventually, but might take many years to do so. What you need
is a more radical approach, where chunks of debt are eaten away
each month.
Being in debt can be a stressful time. Many people are scared
to tell husbands, wives, friends – anyone. There’s a kind of
stigma attached to the problem, but there is always a way out.
Traditional debt advice proscribes borrowing your way out of a
problem. Yet this ignores the reality of most debts. A more
advisable and realistic approach would be to never borrow more
to get out of debt trouble. If it is possible to borrow more
cheaply elsewhere to replace existing borrowing and consolidate
your debt, then this is an eminently sensible approach.
The first step should always be to work out your monthly
outgoings and try and trim down your spending on luxuries and
things you can do without. This doesn’t mean you have to live
the life of a monk and forgo all worldly pleasures! But by
adopting sensible spending patterns you can redirect some of
your monthly income into paying off your outstanding balances.
Always keep at the front of your mind the fact that the longer
the debt smolders away, the more you spend in interest
payments.
Those with big debts may save thousands a year in interest by
reconsidering their borrowing commitments. Do this in three
ways:
i) Lower the interest if possible by moving your debts to
reduce the interest cost.
ii) Pay the worst first: prioritize paying off the highest
interest rate debts first
iii) Utilize any free debt advice there is. A non-commercial
agency will give you good advice, focus you on your priorities,
and place any problems in context. Things may not be as bad as
they first seem.
Of course, there’s other basic, practicable things you can do
on your own. It's incredibly important to get on top of credit
card debts as soon as possible. Don't default or miss payments.
Let the credit card company know if you are going to be unable
to pay – it’s always better to talk to them than putting your
head in the sand.
If things aren’t that bad, there’s a variety of easy strategies
you can implement that will help ease things for you. Consider a
credit card balance transfer to a lender offering a lower rate
of APR. This will mean you spend less on interest payments each
month and start to attack the overall balance with real venom.
You could take out an unsecured loan as a way of consolidating
your debt. Personal loans can give you a consistent cheap debt,
and as you must make the repayments each month, it helps provide
structure to your repayments. Those with poorer credit scores
might not always get decent rates, but it’s still often a
cheaper option than paying back credit card debt each month,
and overall a faster method of repayment.
If you have them, use savings: The interest paid on savings is
usually far less than interest charged on borrowing, so paying
off debts with savings makes eminent sense. Even if you think
of your savings as an ‘emergency cash fund’ or money for the
future, better to fall back on it in the short term and pay it
back later, than paying interest to a credit card company so
that money for some far flung eventuality is at your disposal.
It’s worth mentioning that for many people, credit cards
provide sensible short term, flexible lending, that’s both
cheap and convenient. You should always try and proceed
cautiously, but credit card debt woes are not an inevitable
consequence of taking them out. Tens of millions of Americans
use credit cards cheaply and conveniently every year.
For those who feel they are in trouble, don’t feel stigmatized
by your debt woes and don’t pretend they’re not there. Help is
at hand should you seek it, and a solution is never far away.
About the Author: Ethan Hunter is the author of many credit
related articles. If you are looking for help with Home Loans
or any type of credit issue please visit us at
http://www.creditcardunlimited.com
Source: http://www.isnare.com
Thursday, May 10, 2007
Credit Card Terminal
Merchant Credit Card Terminals
By Kent Pinkerton
Merchant credit card terminals are electronic devices offering fast, low-cost means to authorize and process credit card transactions. They are very commonly used in retail stores and restaurants. Most merchant credit card terminals accept all major credit, debit, and private-label cards offering low-cost credit card authorization, check guarantee, and data capture for a range of retail applications.
A terminal to process credit cards is a great investment to your business. Most merchant credit card terminals support Internet-based services such as e-mail, electronic signature, interactive electronic coupons, onscreen advertising, cash management reporting, and e-commerce. They make transactions more convenient, faster, and accurate for both customers and merchants.
At first, merchant credit card processing terminals verify your customer's card information. Then they withdraw money for the purchase from the customer?s account and deposit it directly into your merchant account. The most important units of merchant credit card terminals are card readers with a small keypad and display. They require power supply and can communicate through a telephone line. Modern terminals are powered by batteries and can communicate wireless or over the Internet. They come in several sizes and prices.
There are many types of merchant credit card terminals: traditional terminals (with or without printers), wireless terminals, and virtual or software-based terminals. Merchants with a permanent place of business need a basic card reader terminal. In this case, the terminal is placed right on the counter where all transactions take place. For businesses that constantly change locations, a wireless credit card processing terminal is a good choice. It is suitable for merchants who are always on the go.
Millions of merchant credit card terminals ship annually and the majority have the same basic functions and features. It can only be used in combination with a merchant account that processes credit card transactions. Businesses already using credit card terminals need to buy extra equipments to maintain additional services such as debit card transactions and issuing and accepting gift cards. A number of terminals also support additional forms of payment such as electronic bank transfers and phone cards.
Credit Card Terminals provides detailed information on Credit Card Terminals, Credit Card Terminal Systems, Wireless Credit Card Terminals, Credit Card Processing Terminals and more. Credit Card Terminals is affiliated with Credit Card Processing Software.
Article Source: http://EzineArticles.com/?expert=Kent_Pinkerton
http://EzineArticles.com/?Merchant-Credit-Card-Terminals&id=353177
By Kent Pinkerton
Merchant credit card terminals are electronic devices offering fast, low-cost means to authorize and process credit card transactions. They are very commonly used in retail stores and restaurants. Most merchant credit card terminals accept all major credit, debit, and private-label cards offering low-cost credit card authorization, check guarantee, and data capture for a range of retail applications.
A terminal to process credit cards is a great investment to your business. Most merchant credit card terminals support Internet-based services such as e-mail, electronic signature, interactive electronic coupons, onscreen advertising, cash management reporting, and e-commerce. They make transactions more convenient, faster, and accurate for both customers and merchants.
At first, merchant credit card processing terminals verify your customer's card information. Then they withdraw money for the purchase from the customer?s account and deposit it directly into your merchant account. The most important units of merchant credit card terminals are card readers with a small keypad and display. They require power supply and can communicate through a telephone line. Modern terminals are powered by batteries and can communicate wireless or over the Internet. They come in several sizes and prices.
There are many types of merchant credit card terminals: traditional terminals (with or without printers), wireless terminals, and virtual or software-based terminals. Merchants with a permanent place of business need a basic card reader terminal. In this case, the terminal is placed right on the counter where all transactions take place. For businesses that constantly change locations, a wireless credit card processing terminal is a good choice. It is suitable for merchants who are always on the go.
Millions of merchant credit card terminals ship annually and the majority have the same basic functions and features. It can only be used in combination with a merchant account that processes credit card transactions. Businesses already using credit card terminals need to buy extra equipments to maintain additional services such as debit card transactions and issuing and accepting gift cards. A number of terminals also support additional forms of payment such as electronic bank transfers and phone cards.
Credit Card Terminals provides detailed information on Credit Card Terminals, Credit Card Terminal Systems, Wireless Credit Card Terminals, Credit Card Processing Terminals and more. Credit Card Terminals is affiliated with Credit Card Processing Software.
Article Source: http://EzineArticles.com/?expert=Kent_Pinkerton
http://EzineArticles.com/?Merchant-Credit-Card-Terminals&id=353177
Friday, May 4, 2007
Credit Card Terminal
Proper Personal Finance Management by A Bohart
Rising consumerism and easy access to credit has given rise to overspending, even by an average income earner. The result has been an increasing number of people caught in a growing debt burden. The problem is worsened simply because most people care very little about managing their finances, or about proper personal finance management. The fact is, you'd get more benefits if you take your personal financial management seriously. Here are some ideas which could help you
Wisely Use Credit Cards
Credit cards are the most popular method of getting credit. They are easier to secure, and easier to make use of - just select an item, carry it to the cashier and swipe your card. Not needing to carry cash around encourages many people to simply swipe their cards on the ever-present credit card terminals, not realizing or not caring that everything ultimately goes on their tab. Please remember that the more you swipe your card, the more debt you are building up.
Proper financial management means taking precautions so one can minimize credit card debts. For one, use your credit card only when there is no other alternative. Two, spend on your credit card only the amount of money you have to spend. Bear in mind, the credit card company will start charging penalties if you are not able to settle your dues on time - which will only add to your debts and will worsen your problem.
When applying for a credit card, shop around first. Look for the company that charges the most favorable interest rate. Keep in mind that paying a low interest rate means saving some money for other expenses.
Consider Debit Cards
Another approach is to avail of debit - not credit - cards. The advantage here is that your spending is limited by the amount you have in your account. As such, debit cards have inbuilt protection against overspending and the ensuing loss of financial control.
Go with Secured Personal Loans
Personal loans are another source of finance. Personal loans will make you financially stronger and more secure - if you use the loan constructively, that is. If you are taking out a personal loan just so you can spend some more money you don't have, taking out a personal loan is just going to speed up your financial decline.
If you decide on this approach, your priority should be minimizing loan costs as much as possible. As such, you should avail of personal loans that charge the most favorable rates of interest so you can save up on interest charges that will only add to your indebtedness.
When taking out a personal loan, opt for the secured personal loan - that which puts up any of your properties as collateral. With a secured or collateralized loan, lenders will be more willing to lower their interest rates and offer you a more favorable payment schedule.
Save First
To have more financial control, you need to exchange your habit of expenditure for a habit of saving. If you save enough money, you won't need to take out a loan or a credit card for sudden and unexpected expenses. You can just use your own savings and as such, you're not going to have to pay interest.
Wise financial management encompasses spending only on what's necessary and what's within budget. Never borrow money so you can spend more. This will never work and you will be just digging your financial grave when you do this.
About the Author
Allen is a life-long writer and reader who writes on a number of subjects including personal finances and Internet marketing.
Rising consumerism and easy access to credit has given rise to overspending, even by an average income earner. The result has been an increasing number of people caught in a growing debt burden. The problem is worsened simply because most people care very little about managing their finances, or about proper personal finance management. The fact is, you'd get more benefits if you take your personal financial management seriously. Here are some ideas which could help you
Wisely Use Credit Cards
Credit cards are the most popular method of getting credit. They are easier to secure, and easier to make use of - just select an item, carry it to the cashier and swipe your card. Not needing to carry cash around encourages many people to simply swipe their cards on the ever-present credit card terminals, not realizing or not caring that everything ultimately goes on their tab. Please remember that the more you swipe your card, the more debt you are building up.
Proper financial management means taking precautions so one can minimize credit card debts. For one, use your credit card only when there is no other alternative. Two, spend on your credit card only the amount of money you have to spend. Bear in mind, the credit card company will start charging penalties if you are not able to settle your dues on time - which will only add to your debts and will worsen your problem.
When applying for a credit card, shop around first. Look for the company that charges the most favorable interest rate. Keep in mind that paying a low interest rate means saving some money for other expenses.
Consider Debit Cards
Another approach is to avail of debit - not credit - cards. The advantage here is that your spending is limited by the amount you have in your account. As such, debit cards have inbuilt protection against overspending and the ensuing loss of financial control.
Go with Secured Personal Loans
Personal loans are another source of finance. Personal loans will make you financially stronger and more secure - if you use the loan constructively, that is. If you are taking out a personal loan just so you can spend some more money you don't have, taking out a personal loan is just going to speed up your financial decline.
If you decide on this approach, your priority should be minimizing loan costs as much as possible. As such, you should avail of personal loans that charge the most favorable rates of interest so you can save up on interest charges that will only add to your indebtedness.
When taking out a personal loan, opt for the secured personal loan - that which puts up any of your properties as collateral. With a secured or collateralized loan, lenders will be more willing to lower their interest rates and offer you a more favorable payment schedule.
Save First
To have more financial control, you need to exchange your habit of expenditure for a habit of saving. If you save enough money, you won't need to take out a loan or a credit card for sudden and unexpected expenses. You can just use your own savings and as such, you're not going to have to pay interest.
Wise financial management encompasses spending only on what's necessary and what's within budget. Never borrow money so you can spend more. This will never work and you will be just digging your financial grave when you do this.
About the Author
Allen is a life-long writer and reader who writes on a number of subjects including personal finances and Internet marketing.
Thursday, May 3, 2007
Credit Card Terminal
8 Personal Banking Don'ts
By Kenneth Kelly
Presumably the object of having a bank account is to save you money, or at least to help you more easily and properly manage it. But there are also several ways in which your use (or misuse, as the case may be) of your personal banking account could lose you money. Below you'll find out how to avoid the eight most common blunders when it comes to personal banking.
1. DON'T pay more than you have to: If you're like most people, you haven't really made the effort to comparison shop for the best personal banking terms you can find. Most bank accounts have some sort of fees or another associated with certain aspects of utilizing and/or maintaining your account, from annual fees to check-writing fees to fees for falling below a minimum balance to so-called "overdraft protection fees" to counter fees (to name just a few). These fees can slowly eat away at your savings. Banks change their policies all the time, so it's never a waste of time to look around and make sure that you really are getting the best deal for your money.
2. DON'T ignore your bank statements: When your bank statement arrives in the mail, do you simply toss it without even reading it? Many people do. But bank statements often contain errors, and the only way you'll know when one occurs is if you read through each statement carefully and compare it against what you know to be true (hopefully by way of a regularly balanced checkbook). Without reviewing your statements, you could wind up stuck with a fee for a payment you didn't make. You could find that someone has copied your ATM/debit card and made purchases against your account. The only way to catch this is to take it upon yourself to read your statements and check them for accuracy.
3. DON'T be careless with ATMs: Be conscious of other people around you when using an ATM. Do not write your PIN number anywhere near your ATM card and be sure to shield it as you type it in. If you make a mistake writing out a slip, don't just throw it away or leave it lying there - pocket it and dispose of it properly later. If you request a receipt make sure you take it. And many machines automatically spit out a receipt after a transaction is completed whether you request it or not. Be alert to this happening and make sure to grab that receipt before you walk away.
4. DON'T leave paper lying around: After you're finished reviewing your bank statements, don't just carelessly leave them lying out where anyone can see - or steal - them. Even simply throwing your statements away can lead to identity theft. Digging through trash is one of the primary ways identity thieves get the goods on their victims. Don't make yourself an open target. Lock away any bank statements or other related documents that you wish to hold on to. Invest in an expensive shredder - the confetti type are best - for the ones you don't. And then remember to use your locked file cabinet and shredder diligently whenever you are through with your bank statements. It's for your protection.
5. DON'T bank online in a public place: Forget about people looking over your shoulder for a moment. An even bigger threat in banking online at a library or a cyber-café or other WIFI hotspot is another computer user on the same internet connection being able to snoop on what you're doing. Wireless networks are not totally secure. People can use that opportunity to capture your personal information and sabotage whatever transaction you're making. No online banking emergency is so urgent that you need to make yourself that vulnerable.
6. DON'T be a loyalist: In other words, don't become so enamored with your bank, or so lazily accustomed to it, that you continue to bank there without consciousness of how comparatively good or bad a deal you are getting. If you've consistently borrowed money from the same bank, maybe it's time to start exploring your other options. Even if you shopped around long and hard to find this bank, time passes, deals change. It's worth reevaluating every now and again your decision on where to bank. And it's particularly easy to do this type of research online.
7. DON'T be a stranger: Establish a relationship with your bank and the people who work there. The best way to get the best possible deals from a bank is to let them get to know you. Set up a meeting with the manager of your local branch, just to introduce yourself and key them in to your financial goals. You may never actually need their assistance beyond the norm, but if you do - if a problem arises, an error or a financial emergency - you'll benefit greatly from having already established a rapport with the folks whom you're asking for help.
8. DON'T be afraid to ask: Banks are in the business of keeping their clients. This sometimes means they will go above and beyond their normal service offerings to keep your business. Whether you are looking for a more favorable rate on one of your accounts, free financial software, or even a toaster, don't be afraid to ask about specials. In the process don't forget to remind them how loyal a customer you have been. You'd be surprised how many promotion items that are available to you, but are not given to you. It's just taking up space in your bank's storage room.
In summary, taking care with your banking habits, being protective of your banking information, and remaining aware of how the deal you're getting compares with other deals available to you will help prevent you from making many of the most common and detrimental mistakes in personal banking.
Kenneth C. Kelly is the President of Strativia, a financial management software development and services company specializing in applications for personal and business use. Strativia is the developer of Budget Forecaster, a sophisticated home budget and personal finance management software package.
Website: http://www.strativia.com
Contact: info@strativia.com
Article Source: http://EzineArticles.com/?expert=Kenneth_Kelly
http://EzineArticles.com/?8-Personal-Banking-Donts&id=539235
By Kenneth Kelly
Presumably the object of having a bank account is to save you money, or at least to help you more easily and properly manage it. But there are also several ways in which your use (or misuse, as the case may be) of your personal banking account could lose you money. Below you'll find out how to avoid the eight most common blunders when it comes to personal banking.
1. DON'T pay more than you have to: If you're like most people, you haven't really made the effort to comparison shop for the best personal banking terms you can find. Most bank accounts have some sort of fees or another associated with certain aspects of utilizing and/or maintaining your account, from annual fees to check-writing fees to fees for falling below a minimum balance to so-called "overdraft protection fees" to counter fees (to name just a few). These fees can slowly eat away at your savings. Banks change their policies all the time, so it's never a waste of time to look around and make sure that you really are getting the best deal for your money.
2. DON'T ignore your bank statements: When your bank statement arrives in the mail, do you simply toss it without even reading it? Many people do. But bank statements often contain errors, and the only way you'll know when one occurs is if you read through each statement carefully and compare it against what you know to be true (hopefully by way of a regularly balanced checkbook). Without reviewing your statements, you could wind up stuck with a fee for a payment you didn't make. You could find that someone has copied your ATM/debit card and made purchases against your account. The only way to catch this is to take it upon yourself to read your statements and check them for accuracy.
3. DON'T be careless with ATMs: Be conscious of other people around you when using an ATM. Do not write your PIN number anywhere near your ATM card and be sure to shield it as you type it in. If you make a mistake writing out a slip, don't just throw it away or leave it lying there - pocket it and dispose of it properly later. If you request a receipt make sure you take it. And many machines automatically spit out a receipt after a transaction is completed whether you request it or not. Be alert to this happening and make sure to grab that receipt before you walk away.
4. DON'T leave paper lying around: After you're finished reviewing your bank statements, don't just carelessly leave them lying out where anyone can see - or steal - them. Even simply throwing your statements away can lead to identity theft. Digging through trash is one of the primary ways identity thieves get the goods on their victims. Don't make yourself an open target. Lock away any bank statements or other related documents that you wish to hold on to. Invest in an expensive shredder - the confetti type are best - for the ones you don't. And then remember to use your locked file cabinet and shredder diligently whenever you are through with your bank statements. It's for your protection.
5. DON'T bank online in a public place: Forget about people looking over your shoulder for a moment. An even bigger threat in banking online at a library or a cyber-café or other WIFI hotspot is another computer user on the same internet connection being able to snoop on what you're doing. Wireless networks are not totally secure. People can use that opportunity to capture your personal information and sabotage whatever transaction you're making. No online banking emergency is so urgent that you need to make yourself that vulnerable.
6. DON'T be a loyalist: In other words, don't become so enamored with your bank, or so lazily accustomed to it, that you continue to bank there without consciousness of how comparatively good or bad a deal you are getting. If you've consistently borrowed money from the same bank, maybe it's time to start exploring your other options. Even if you shopped around long and hard to find this bank, time passes, deals change. It's worth reevaluating every now and again your decision on where to bank. And it's particularly easy to do this type of research online.
7. DON'T be a stranger: Establish a relationship with your bank and the people who work there. The best way to get the best possible deals from a bank is to let them get to know you. Set up a meeting with the manager of your local branch, just to introduce yourself and key them in to your financial goals. You may never actually need their assistance beyond the norm, but if you do - if a problem arises, an error or a financial emergency - you'll benefit greatly from having already established a rapport with the folks whom you're asking for help.
8. DON'T be afraid to ask: Banks are in the business of keeping their clients. This sometimes means they will go above and beyond their normal service offerings to keep your business. Whether you are looking for a more favorable rate on one of your accounts, free financial software, or even a toaster, don't be afraid to ask about specials. In the process don't forget to remind them how loyal a customer you have been. You'd be surprised how many promotion items that are available to you, but are not given to you. It's just taking up space in your bank's storage room.
In summary, taking care with your banking habits, being protective of your banking information, and remaining aware of how the deal you're getting compares with other deals available to you will help prevent you from making many of the most common and detrimental mistakes in personal banking.
Kenneth C. Kelly is the President of Strativia, a financial management software development and services company specializing in applications for personal and business use. Strativia is the developer of Budget Forecaster, a sophisticated home budget and personal finance management software package.
Website: http://www.strativia.com
Contact: info@strativia.com
Article Source: http://EzineArticles.com/?expert=Kenneth_Kelly
http://EzineArticles.com/?8-Personal-Banking-Donts&id=539235
Wednesday, May 2, 2007
Credit Card Terminal
The Cost of Leasing a Credit Card Machine
By Jamie Estep
Leasing credit card machines and equipment is a common practice for many new business owners. When a business starts out, they are often met with a barrage of telemarketers and companies offering to help them to accept credit cards. Because of the new business owner's extremely busy schedule and lack of knowledge regarding the credit card processing industry, owners are often convinced that leasing a credit card terminal is the best solution for their business.
In reality, leasing a credit card machine is far from the best interest. For most businesses, a simple swipe and print credit card machine is a perfectly acceptable method of accepting credit cards. What many new business owners fail to do, is investigate the actual price of a new credit card machine. What they would find is that the outright purchase of a credit card terminal is often a completely reasonably priced purchase, and usually is many times less costly than a lease. What would cost them two to three hundred dollars to own, can cost them thousands of dollars to lease. Money is very tight, especially during the startup phase of a business, and the extra money spent on leasing a credit card machine is most definitely better suited elsewhere.
Leasing credit card equipment became a standard in the eighties and early nineties, when the lack of consumer knowledge and a growing processing industry led to the portrayal of high priced processing equipment. During this time fifty dollar per month leases were not uncommon. Since the creation of the internet, consumers have access to a vast amount of information. Processing companies can no longer easily inflate the costs of processing equipment. Now, new business owners are virtually the only group susceptible to getting scammed into a lease. This is due mainly to time constraints and a lack of research on their part.
Leases do still play a role in obtaining credit card equipment, but should only be considered when the required equipment is very high priced. Wireless terminals, while becoming more affordable, can still be a considerable investment. Wireless terminals can still cost over a thousand dollars to purchase which is definitely a significant amount of money. Leasing a wireless terminal can alleviate some of this cost, but business owners should still be aware that they will pay more than the cost of the terminal in the end.
Leases also often come with strings attached, or more appropriately a web of strings attached. Lease commonly last for thirty six to forty eight months, but can be in any increment from twelve months up to forty eight. The shorter the lease, the higher the monthly payment. Leases are also normally non cancel-able for the duration of the lease. There may be considerable penalties for canceling a lease before its term is up. Leases are not always for ownership of the equipment, and hefty buyout fees can occur at the end of the lease. Some leases start over at the end of their term, and the business only has a short window to opt out of the lease. Businesses should be aware of the terms governing the lease before they even contemplate signing it. Signing a lease without fully understanding what is involved in it and fully calculating the cost of the lease can be an extremely expensive mistake.
Enter your lease information into the lease cost calculator to find out how much extra leasing will cost you compared to purchasing.
Copyright 2006 Jamie Estep, The Merchant Account Blog.
Jamie Estep runs the website: (The Merchant Account Blog) and offers information and advice on topics relating to credit card processing. The Merchant Account Blog also has a lease cost calculator where businesses can compare the costs of an equipment lease to purchasing a terminal outright. (Credit Card Terminal Lease Calculator)
Article Source: http://EzineArticles.com/?expert=Jamie_Estep
http://EzineArticles.com/?The-Cost-of-Leasing-a-Credit-Card-Machine&id=190057
By Jamie Estep
Leasing credit card machines and equipment is a common practice for many new business owners. When a business starts out, they are often met with a barrage of telemarketers and companies offering to help them to accept credit cards. Because of the new business owner's extremely busy schedule and lack of knowledge regarding the credit card processing industry, owners are often convinced that leasing a credit card terminal is the best solution for their business.
In reality, leasing a credit card machine is far from the best interest. For most businesses, a simple swipe and print credit card machine is a perfectly acceptable method of accepting credit cards. What many new business owners fail to do, is investigate the actual price of a new credit card machine. What they would find is that the outright purchase of a credit card terminal is often a completely reasonably priced purchase, and usually is many times less costly than a lease. What would cost them two to three hundred dollars to own, can cost them thousands of dollars to lease. Money is very tight, especially during the startup phase of a business, and the extra money spent on leasing a credit card machine is most definitely better suited elsewhere.
Leasing credit card equipment became a standard in the eighties and early nineties, when the lack of consumer knowledge and a growing processing industry led to the portrayal of high priced processing equipment. During this time fifty dollar per month leases were not uncommon. Since the creation of the internet, consumers have access to a vast amount of information. Processing companies can no longer easily inflate the costs of processing equipment. Now, new business owners are virtually the only group susceptible to getting scammed into a lease. This is due mainly to time constraints and a lack of research on their part.
Leases do still play a role in obtaining credit card equipment, but should only be considered when the required equipment is very high priced. Wireless terminals, while becoming more affordable, can still be a considerable investment. Wireless terminals can still cost over a thousand dollars to purchase which is definitely a significant amount of money. Leasing a wireless terminal can alleviate some of this cost, but business owners should still be aware that they will pay more than the cost of the terminal in the end.
Leases also often come with strings attached, or more appropriately a web of strings attached. Lease commonly last for thirty six to forty eight months, but can be in any increment from twelve months up to forty eight. The shorter the lease, the higher the monthly payment. Leases are also normally non cancel-able for the duration of the lease. There may be considerable penalties for canceling a lease before its term is up. Leases are not always for ownership of the equipment, and hefty buyout fees can occur at the end of the lease. Some leases start over at the end of their term, and the business only has a short window to opt out of the lease. Businesses should be aware of the terms governing the lease before they even contemplate signing it. Signing a lease without fully understanding what is involved in it and fully calculating the cost of the lease can be an extremely expensive mistake.
Enter your lease information into the lease cost calculator to find out how much extra leasing will cost you compared to purchasing.
Copyright 2006 Jamie Estep, The Merchant Account Blog.
Jamie Estep runs the website: (The Merchant Account Blog) and offers information and advice on topics relating to credit card processing. The Merchant Account Blog also has a lease cost calculator where businesses can compare the costs of an equipment lease to purchasing a terminal outright. (Credit Card Terminal Lease Calculator)
Article Source: http://EzineArticles.com/?expert=Jamie_Estep
http://EzineArticles.com/?The-Cost-of-Leasing-a-Credit-Card-Machine&id=190057
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