finance Archives - Page 14 of 14

Building a Good Number: Guiding Your Young Adult Towards a Good Credit Profile

May 2, 2017 by Mandy

If you are the parent of one or more teenagers, now is the right time to guide them toward a responsible financial future. Help your young adult kids to understand how to build a great credit profile now, and they may thank you for your good advice somewhere down the road.

What is a credit profile

A credit profile and credit history, are basically the same thing. They are documents used by lenders to determine whether or not a person is a good financial risk. A credit profile comprises past and current credit accounts, timeliness and completeness of payments as well as balances due. Credit card companies are not the only ones who may look at a credit profile. Landlords, prospective employers, and others with a valid reason to explore your credit history may access your report at virtually any time.

A secured card may be the right way for a young adult to start and build their credit profile, says Magnify Money magazine. The way a secured card works is easy. The owner of the card deposits money into a card account, and this amount determines the credit limit. In effect, the card acts as a debit card but appears the same as a regular credit card to sellers. Look for a card that comes with no annual fee.

Some protections are in place

Long gone are the days when credit card companies had free access to college and university campuses. Today, no credit card company may entice students on or near a campus to take on credit card debt with things like free pizza and gifts. The Credit Card Act of 2010 banned card companies from issuing credit cards to anyone under the age of 21, unless the young adult can prove enough income to pay the monthly bills and fees, or if they have a co-signing adult who has good credit. Sounds confusing? It can be. That’s why it’s imperative that parents teach their children well when it comes to things like obtaining plastic and managing credit.

Since the enactment of the 2010 credit card regulations, card issuers must be more transparent and direct about late fees, due dates and how long it will take to pay off the loan when making only minimum monthly payments.

Resolving your own debt

If you have gotten yourself into financial trouble, you may wish to set a good example for your teenager by consolidating your credit card debt into one manageable payment. Although it’s preferable to build good credit and never wreck it, sometimes things happen, and bills stack up to staggering proportion. By clicking here you can access reliable info about how to dig yourself out of debt without declaring bankruptcy in the process.

Parenting teens can be a challenge, to be sure. Take time to explain money concepts such as credit to your kids now, and they may lead happier, more responsible adult lives.

The Best Way to Learn: Sharing Everyday Financial Lessons With your Kids

April 26, 2017 by Mandy

Once a child can walk and talk, they’re generally old enough to learn a few rudimentary money lessons. As the child gets older, their financial lessons will become more and more complicated. Kids learn by example and by listening to their parents, too. In the interest of happy families everywhere, we’re delighted to present the following age-appropriate finance lessons you can teach your kids.

Money concepts kids should know by kindergarten

Little kids seem to have a rather magical way of thinking about money. In fact, toddlers will believe that money grows on coconut trees, if that’s what their mother or father tells them. As far as most two-year-olds are concerned, mommy and daddy visit magic cash machines that dispense dollars at the swipe of an ATM card. The sooner your children understand how money really works, the better. So say finance gurus at Parents magazine.

By the time your child is old enough to go to kindergarten, they should understand several key concepts about money. First, kids need to know that things are exchanged for money. When they receive holiday gifts, someone probably paid for those presents. Pre-school kids can also learn that working is a way to earn money. Additionally, kids should understand the difference between wanting and needing an item and that sometimes, people have to wait to buy something that is not exactly necessary.

Money lessons to impart before your kid is in junior high

Sixth and seventh graders should have a basic understanding of savings accounts and compound interest, says US News and World Report. Fifth and sixth graders are generally old enough to have a bank account co-signed by a parent. This is a dandy way for kids to learn how earned monies and monetary gifts from grandmas can be tucked away for a while and withdrawn after amassing interest.

Sixth grade can be the right time to start giving kids an allowance. Some parents base allowance on chores, other moms and dads prefer that kids participate in household duties without expecting payment for the same. Either way, a small allowance helps kids learn to build a budget and save for things they want.

Lessons about credit, loans, and repayment

If you plan to take out a small personal loan in anticipation of a holiday or vacation, allow your high-school age kids to observe the application process. Remind them that it’s crucial to read and understand the fine print in a loan contract before signing. You can use this link to visit a fair loan site with your teenager.

Although minors are not typically allowed to open a credit card account by themselves, parents may add a responsible teen as an authorized card user. Understanding interest rates, service fees, and spending limits will stand your teen in good stead when they’re adults. When teens see how making minimum monthly payments is not the best way to go, they may grow up into adults who use credit wisely.

Top Money Making Tips For Stay At Home Moms

February 21, 2017 by anthony

For all the moms out there who don’t want to go back to their job and just want to stay at home and raise the children like back in the old days, I’m here to tell you that you can do exactly that, just with a modern twist.

Such is the World these days that there is a whole host of opportunities on the internet for you to make some money from home whilst you change the nappy of your newborn child, well, almost. Today I’m going to tell you a few ways in which you can make money online in your own time and from the comfort of your armchair. Now you can be a stay at home mom and be independent and here’s how.

Online Surveys

Many companies pay people to fill out surveys online, these surveys help businesses and governments to better understand their demographics and you can earn decent money doing this. Each survey you fill out you will receive a couple of dollars, it might not sound like much but over the month it really adds up. There is no pressure on how many surveys you fill out, or how quickly you do them, perfect for a busy mom.

Online Gambling

No longer do you need to go to smoky bookmakers or neon casinos, these days you can make a great bit of money from your laptop or cellphone with online gambling. If you are unfamiliar with the practices of online gambling then just take a quick look online, there are many professionals out there who are sharing their tips with the World and you follow these tips and win big. If you are just starting out then just start off with a small cashpile or better still, look for sites which offer welcome bonuses or free deposits, there are sometimes the no deposit slots win real money too so keep an eye out for them.

If you do decide to give online gambling a try, your best bet would be to use a well established casino site, ideally one that uses Playtech, If you’re not familiar with what that is, read more about it here before spending your money: www.onlinescam.net/casino/playtech/

YouTube Videos

You can easily create your very own YouTube channel and use it as a guide for new moms-to-be, you can warn them about mistakes, keep them updated on how you are getting on as a mom, how you lost the weight, kept your skin healthy or any other such video guide that you want to make. YouTubers can earn well if they get enough views on their videos as YouTube will pay you money to place advertising on your channel. In order to get people to your YouTube channel, you will have to be sure that you are adding great value to the site and working hard on social media to bring people to your videos. If you simply make a video and upload it, the reality is that nobody will care too much as they won’t see it. It’s very easy to make a video, you can do so from your cellphone, so get shooting and start making some cash.

These are just a few ways in which you can use the internet to make some cash but there are plenty more, don’t think that just because you are home all day that you can’t earn too!

Making Extra Money – Just In Time For Christmas

December 9, 2016 by Mandy

Source

Who doesn’t enjoy having a bit of extra cash on hand, not just around the holidays, but any time of year? These days it seems that everyone needs to make the pennies stretch even further than ever, and so picking up some extra cash every now and then isn’t seen as a necessarily bad thing and is in fact welcomed! So what are some great ways to “cash in” on earning some extra cash? Read ahead to learn more!

Cash In The Attic – Literally

By Cash In The Attic, we don’t mean the TV show, although you could do that too if you were so inclined. These days there are a number of great websites which turn your junk into cash. Everything from old books, CDs, DVDs, VHS tapes, game consoles, clothing, shoes, you name it, they will take it. Mobile phones are a big one as well. The newer the phone, or the more “high end” the clothing/shoes the more money you can get back for the items. For example, a newer version Iphone or Android will fetch more money than an old flip open Nokia and a pair of Calvin Klein jeans will bring in more money than a standard pair of New Look threads. So get up in the attic and see what you have kicking around that you could swap for cold hard cash!

Odd Jobs, Working Online

Depending where you live, you might be lucky enough to have the opportunity to do some manual labour work in the winter such as shovelling drives and walkways for neighbours who might not be able to and are happy to pay someone to do it for them. It doesn’t often amount to huge swathes of cash, but if you get ten shovelling jobs at a fiver each, that’s already fifty dollars or pounds. Likewise signing up for some online side gigs like product or website testing can get you a bit of side income. Websites like Fiverr, People Per Hour or Upwork and Freelancer also hook up people with specific skills that are in demand and on a loose one off basis for small businesses and the like. These websites are handy for people who are skilled in a number of things – check them out and see what people are looking for that you might be able to help with!

Cashing In With Online Games

Wait, what? That’s right! Online casino games that are no/low risk, like free slot spins can really help you bring in some extra money without having to risk losing any of yours! What are free slot spins? Well, exactly what they sound like – an online casino based game of slots where you can pick your slot machine and use free spins to make some extra money, with no deposit required and no registration necessary in some cases! Couldn’t be better, right?

And there you have a couple of great moneymaking ideas for people who have a bit of extra time on their hands and want to put it to work for them, not just for the holidays, but for any time of year when you’re looking for a bit of extra income, like when saving for that special holiday abroad. Enjoy!