Are you an international traveler? Hate how all your credit cards and ATM withdrawals seem to have endless amounts of fees tacked on? Well, after extensive research, I have found the best of the best for travel finance. If you plan on traveling extensively or living abroad, it pays to check out these guys. They will save you a mountain of travel cash once you are no longer being nickel and dimed by international fees.
USAA is designed for military from the United States, and as such has a very international focus. Their checking accounts cover 10 ATM withdrawal fees from other banks each month, and they have no international use fees tacked on. This is the bank that I use now, and while living in Buenos Aires for the last year I have not incurred a single fee from using my bank card. The card works everywhere, and so long as you let USAA know where you will traveling and using the card, you will not encounter problems. USAA is usually reserved for military members and their families, but there are loopholes that can be exploited to get the account. Search online and you are bound to find them!
The Capital One No-Hassle Travel Rewards Card is the perfect credit card for travelers. There are no foreign transaction fees, which for other cards are generally 1-2% of each purchase made outside the United States. The card also gives 1.25 airline reward miles (usable on any airline) for every dollar spent with. This does not include the online partners Capital One has, where you can earn even more miles by shopping through the rewards website. Although you need a relatively high credit rating to be able to use this card, there is no better card for travelers!
credit cards
I may not have a lot of money at the moment, but as a young guy with excellent credit and just starting out, the environment has never been better for buying a new home! The housing bubble has popped, and now that the markets have come down out of the stratosphere normal folk like myself can actually consider buying property young. The government, in trying to stimulate the wrecked housing market, is also offering all sorts of incentives for first-time homebuyers.
I have seen a lot of “victims” of the bad economy show up on television, and some of them are definitely hurting, but a lot of them fell victim to their own shortsightedness. I see a volunteer firefighter earning no more than $2000 US a month, with 3 children, defaulting on a 5000 square foot house and I cannot help but think he had that coming. On what planet, even with the wild west of mortgages we had going for a while, would someone earning 24,000 US a year think they could afford that kind of house?
Another option for new buyers is the foreclosure market, which my friend just recently bought a condo from. He got a condo that initially sold for $350,000 US for just under $120,000 at the foreclosure auction. Minus some inexpensive work he will have to do for the interior (it was owned by a young family) to turn it into a bachelor pad, he now has a 3-story home for a fraction of what he would have had to pay not 2 years ago! This market is perfect for young professionals that want to get into property but were previously locked out because of artificial price hikes, so I count this crisis as a blessing!
Housing
As a young investor in today’s market, it can be tough to figure out where to put my money so that these constant market fluctuations do not rob what little savings I have available. Luckily, there are investment opportunities that closely mirror the market itself, so that you do not have to put all your eggs in one or two baskets by investing in individual equities. These market-tracking funds are called index funds, and they mirror the entire market, so although you never gain more than the market does, you also never lose more than the market. They are an excellent way to for beginner investors to start putting their money into the stock market, because they do not require any management beyond your initial picking of the fund.
I like index funds because they keep your investments diversified without any effort on my part, and I do not have to worry about the day-to-day fluctuations of individual stocks. I am a conservative investor, so I would rather see slow and steady growth than massive gains and losses. If you are a set it and forget it type of person, there is no better investment vehicle for your hard-earned cash. I currently invest in a couple of funds to keep all of my portfolio properly diversified, with a small amount of exposure to international stocks as well. International markets often do better or worse at the expense of one another, so I like to have my money in each to balance out losses. Diversification is one the key things to remember whenever investing money!
For new investors who do not know where to start but have some money to put into the market, index funds offer a fantastic option while you research what stocks and bonds you would like to invest in individually.
Stocks index fumds, investing, Money, Stocks
Ever heard of the debt snowball method of ridding yourself of debt? I was clued onto it by a friend that had recently gotten themselves out from under a mountain of debt, and I was intrigued. I do not carry debt myself, but I have since recommended this method to friends that were not as fortunate as me in having a father that taught me all about personal finance.
The debt snowball method is very effective from what I have seen. Because many people with significant debt have the emotional feeling of drowning, the debt snowball method recommends paying off the smallest debts first. As each smaller debt is paid off, the payment that went into it is rolled over to the next smallest debt to be paid off. In this way, the payments “snowball” into an effective method that gets rid of all outstanding debt. I like this method a lot because it really helps people get out from the psychological burden of never paying anything off. Seeing each debt slowly fall to the payment snowball eating it up must be a really great feeling.
The only aspect of it that I do not agree with is a complete and utter ban on the use of credit cards. I think that credit cards can be an effective tool just like any other tool in personal finance, provided that they are used responsibly and not for unnecessary purchases. It is not the card’s fault if you go into debt, it is your own fault for using the card irresponsibly. But beyond that minor problem I have with the debt snowball repayment plan, I think it would be a very effective way for people that feel their debt is insurmountable to get themselves out of the hole.
Debt credit cards, Debt
Instead of budgeting expenses and curbing my urge to splurge, I thought why not I earn extra money and lead a happy life. That is when I checked the internet and came up with the idea to earn automated income. Listen guys, it’s really interesting. While you are sleeping or playing with your kids or partying with friends your website is quietly earning money for you. Surprised? Well, don’t be. There are many ways to earn automated income. Internet marketing, Multi level marketing, Google Adsense, pay per click program are all ways to earn extra cash. Don’t be apprehensive. You don’t need any expertise to get into all of these or any one of these. Just basic knowledge about internet is enough.
Having your own website can also get you money. If you are passionate about what you are doing and are ready to spend a couple of hours a day then you can easily earn extra money. I know many of my friends are doing this. I too started and felt great when I earned my first $100. Now I am hooked to it. I feel in a couple of months I’ll chuck my job and concentrate completely on this. If I can earn more than $3000 per month online why should I listen to an insolent boss or travel an hour by subway? I’d rather make money from home! Take me seriously and log on to earn residual income.
Money google, internet marketing, make money online
Foreclosure is a form of legal proceeding initiated by the bank or other lending agency against the borrower. The lender initiates legal action against the borrower who has not paid back the money borrowed to buy a home or car or any other asset. Under this process the borrowed asset is taken under possession by the bank. In simpler terms your home for which you took a loan and is unable to repay may be confiscated by the bank and you may be evicted by the court.
As a matter of fact, when the terms and conditions of mortgage are violated, it is construed as a default in payment agreed to by execution of a promissory note. The security to the promissory note is provided by the lien created on the property. The process is said to have met its logical end, when it is announced that the “Lender has foreclosed its mortgage or lien”. Behind foreclosure lies very poor credit and financial difficulty. But nowadays with refinancing you can escape foreclosure unless you are in dire situations and your credit worthiness is at an all time low. Check out websites and legal rights on this issue, so that no body can fool you.
Housing, Mortgages foreclosure, Housing, Mortgages, Recession
Buying a home, especially your first home, is exciting and heart-wrenching. It certainly is a satisfying experience. We’ve even gone so far as to name it “the American Dream”-you know the story: white picket fence, a dog in the yard, kids playing out back. No one ever misses a mortgage payment in this American Dream and the house values keep going up and up. There are no sheriff’s sales, no bills piling up, no collector’s phone calls, no banks coming to foreclose. But, for many Americans, that dream has turned into a nightmare now. No one imagines when they first turn the key to their new home that at some point they may be considering walking away from their home and their mortgage. What once was a great source of pride has now turned into an unbearable burden. What could have changed? How did you get here? Why would you even consider giving up your home and walking away from your mortgage?
There are a lot of problems right now because of the collapse in the housing market. It’s pretty crazy with what has happened and it will not be until the housing market rights itself will we see a change in the situation of the country. We need the housing market to get better as so much of people’s finances are tied to their homes. I don’t think this should be the case but once things stabilize people will begin to feel better.
Housing Housing
As an investment banker I thought I knew everything about stocks and shares till last year. My ego was crushed by the crash of Dow Jones. I got paralyzed and didn’t know what to do. All my money was invested “wisely” in stocks that were “doing well” a couple of years ago. When the downslide started I was losing more than $1000 a day. My mind told me to sell everything and get out of this rut. But my heart thought otherwise. I thought ‘if only it could pick up a bit, then I’ll sell.’ This way I ended up with a big loss. My 401k is also down, where in I had invested for my twilight years. Even if the market picks up, I’ll still be at a loss. With a recession going on, it is indeed difficult for any company to do well. More and more companies are folding up and hundreds of people are losing jobs. If you have the staying power then keep your stocks and don’t sell them now. The new government is sure to get us out of this mess. After all there is light beyond the dark tunnel, isn’t it? I am sure about it. How about you?
Recession 401k, banking, investments, Recession, Stocks