• Your first and foremost duty is to order your credit reports from each of the credit bureaus (Equifax, Experian, TransUnion), so that you can start doing some serious disputing. Federal law guarantees that every consumer is entitled to one free credit report from each of the three major credit bureaus. Take advantage of this opportunity and monitor your credit report time to time. In case you find an error in your credit report, ask the bureaus to fix it right away. Enlist the names of all creditors that show you are at least 30 days late, and compose a letter to each creditor explaining your financial impediment and asking for written forgiveness in the form of a never late on your credit reports.
• Initially, if your poor credit score prevents you from availing a new unsecured credit card, settle for a department-store or gasoline credit card or one from credit union. Attempt to establish different lines of credit, starting with a secured credit card that is accepted wherever major credit cards are accepted. Secured credit cards are easily available even if you have bad credit or no credit at all and it has an automatic reporting option to all three major credit bureaus. Generally secured credit cards are funded 100 percent with your own money. If you want a $500 credit line, you have to first deposit that amount with the card issuer. This would certainly minimize some of the financial risk that would normally fall upon a lender or creditor. Make sure you open no more than two new lines of credit.
• As soon as you establish various lines or types of credit, maintain the balances low on all new debt. Make sure your balances should be from 10 percent to 30 percent of your balance.
• Pay all new lines of credit on time and if possible before the due date in order to report positive on your credit report.
• Under normal circumstances, you might order your credit reports once a year, but after doing a major cleanup like debt settlement, you should order it at least twice a year. This is because several creditors employ sneaky tactics, where they will reenter a balance as an example on your credit report, whereas it should be zero balance or they can go back and report late when they agreed to a never late condition.

Stay alert and keep the above mentioned points in mind in order to improve your credit rating after debt settlement.

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Discount offer (Photo credit: najeebkhan2009)

1. Find Discounts
Some places will offer discounts or free admission on certain days of the week.  Zoos, museums, art galleries or theaters are just a few of the places that provide excellent discounts.  You just need to check your local newspaper, and you can look for ads that will inform you of special deals.

2. DVDs
You should subscribe to Netflix, or you can find a Red Box near you.  You can rent a DVD for a cheap price, and then watch it with the whole family.  With Netflix, you can keep the movie as long as you wish, and then send it back to get a new movie. If you’re really smart, subscribe to Netflix Instant for unlimited streaming options – and get a Netflix TV adaptor!

3. Check the Library
Many libraries offer storytime for children or other events.  For family time, go to one of the special events that the local library offers. For grown up options, you can also check out books, CDs or DVDs for FREE.

4. Eat Cheap
Decide on a restaurant before you leave the house. Then, search online for coupons that the dining facility offers. The newspaper will also have coupons, so you can cut them out and use them easily.

5. Buy in Bulk
If you get a large group together, you can get a discount if you buy many at once.  You can go bowling, go to a sports event or an amusement park at a discounted rate, so look into going on trips with your extended family or neighbors. Some theaters will provide group tickets at a discounted price.

6. Game Night
Playing games has entertained families for decades.  You can get out the old-fashioned board games, and have a fun night of games with the family.  Board games are inexpensive, and they are a great way to bond together as a family. You can also find endless ideas for games online.

7. ITunes
You can purchase a single song on ITunes for less than $2.00.  Many times, you buy a whole CD, but do not care about half of the songs on the album.  You can now just purchase the songs that you love.

8.  Go Camping
Find a nice campground and take your family on a fun camping trip.  You can grab some weiners and chips and enjoy a picnic.  Camping is an inexpensive form of entertainment that the whole family can enjoy.

9. Wii!!
For the competitive families, have a Wii tournament.  You can play tennis, basketball, baseball or any other type of game that you own. This might be an expensive investment, but if you know you’ll play it often, it will pay for itself. See what your kids have, and if they have any friends who might be looking to sell a used system.

10. Historical Landmarks
Most local historical landmarks are completely free, so it will be an educational experience to take your family to learn about the history of the area.  You can visit battlefields, famous parks, and Victorian homes.  It can be an interesting and fascinating experience for everyone, and if you walk there or go on a beautiful day, extending the adventure will be a piece of cake!

John Conybeare likes to write about movies, art & saving money at www.backgroundcheck.org.

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1. Choose the Tree
Consult the extension service. They will be well-versed in what grows well in your area. They can also advise you on what to look for in a great tree. Since they have special training and no interest in selling you anything, they are a great resource. Google searches and speaking with neighbors can also be enlightening.

2. Buy the Tree
Decide on the size of tree that you want to plant. A larger tree will be ready

Image by John-Morgan via Flickr

to add to your property value faster. It will also give you shade faster. However, if you buy too big of a tree, you will probably have to hire someone to plant it for you. Buying a smaller tree allows you to plant it yourself. It really is a personal decision.

3. Where to Plant it
The third step is to decide where to plan the tree. It should be at least 15 feet from the driveway, the house and any other trees. As the tree matures, its roots will tear up the driveway and the house. If planted too near another tree, the new tree will have problems thriving. Furthermore, do not plant where the tree will come in contact with any power lines as it matures.

4. Measure the Root Ball
The fourth step in planting the new tree to increase the property value is to measure the root ball. The root ball is the dirt that surrounds the roots. Stand the tree up and remove the burlap. Then remove just enough dirt to find out where the trunk starts to flare out to make the root system. Measure from that point to the ground and subtract two inches. That is how deep you will need to dig the hole.

5. Dig the Hole
Dig just as deep as your measurement. Do not stop short, as the tree will not have enough stability. Do not over dig, because the tree will have too much trouble growing. Tie a piece of string across the hole to make a good measuring point. It is vital that the hole is exactly as deep as the root ball minus two inches. Once the hole is dug, make the bottom flat across. Apply superphosphate to the bottom of the hole. This chemical will help the roots take hold and grow into a healthy root system (ask neighbors if they have any).

6. Goin Under
Next, place the tree into the hole. Remove the wire basket that is holding the root ball. It’s not necessary to remove the wire, nor the burlap, from the very bottom of the tree. The roots need the freedom to grow.

7. Loosen the Soil
The soil around the root ball often becomes tightly packed. Make sure and loosen this dirt so that the roots feel the most freedom to grow. After all, you want them to take hold and grow quickly. A large tree increases the property value more.

8. Fill the Hole
Using fresh dirt, combine the dirt with a good fertilizer and more superphosphate. Then use it to fill the hole just to the top of the root flare. This will keep the tree as stable as possible. The fertilizer and superphosphate will help the tree grow quickly.

9. Water the Tree
Use a shovel to create a six inch high curb around the tree. Then, fill the hole created with water. This water will also help the tree grow quickly. The dirt will help hold the water in place, so that it can slowly soak into the ground. Continue to water the tree every other day for six weeks.

This guest post was written by Shelly Martine, who enjoys writing about home improvement with the help of Iowa City Realtors.

1. Negotiate

Don’t be afriad to negotitate with a lender! Sometimes, individuals can save themselves a great deal of money negotiating with their credit card companies for a lower interst rate. One can call the lenders directly to ask for lower rates. Some people have good luck with this particular technique, and can save themselves thousands of dollars of interest. The worst thing that’ll happen is that someone will say no, and you’ll hang up and never speak with them again!

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2. Pay On Time

ALWAYS pay a balance on time. Late charges on credit card bills can run as much as 30 percent, so the wise consumer will pay their bill as soon as it arrives. Better yet, never carry a balance if you can avoid it. For those who have credit cards that offer reward points, cash back, or airline miles, this probably isn’t wise. Always take advantage of a credit card incentive, but either go home and cancel the credit card RIGHT AWAY or pay it off, if you know that there will be more rewards in the future. This way, you may be able to have the card companies paying you for your patronage, rather than the other way around.

3, Shop Around
Always look around. You never know where you’ll find something better. Even if you’ve heard something about a particular company, each company has many different cards. Look for cards with reasonable interest rates online (google a company plus + low interest rate, or try out forums). Do you do a lot of international travel? Some cards are better than others for this. Do you need a lot of money for the Holidays? Some double their rewards over this season. Some credit cards will give you rewards on gas, movies, food, but you have to do the research to find out what’s out there!

4. Low APR

Look for a credit card that has a consistently low interest rate and APR. Sometimes, consumers are suckered into cards that offer a zero balance interest, only to have the interest rate skyrocket after an introductory period. Don’t be one of those who ends up paying a high rate card six month or one year down the road. Do your homework, and settle for a credit card with a reasonable interest rate.

5. Pay Fast

The other way to save money on credit cards is to pay your credit cards as soon as they are due, rather than waiting until the last day (because if your computer freezes, power goes out, the server is down, or you type in the wrong date, you’re S.O.L). Sometimes, you can get rewards by signing up for an automatic debit each month, and then this wouldn’t even apply to you. Look into this!

Cameron Warner likes to write about personal finance and save money at www.dentalinsurance.net.

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Taking control of your debt is the first step you need to take to regain control over your life. If your debts are mounting with no end in sight, consider filing for Chapter 7 or Chapter 13 bankruptcy. Each option offers a different way for you to restart your life and depending on your needs, filing for bankruptcy may be the first step forward. Consider a change in your lifestyle and learn more about filing in Ohio.

Filing for bankruptcy in Ohio may lead to a change in lifestyle for both you and your family. There are two types of bankruptcy to keep in mind when filing in OH: Chapter 7 and Chapter 13. To summarize, there are a few key similarities and differences between Ch 7 and Ch 13:

Chapter 7 is:

• Good for those without a stable income and struggling to repay their unsecured debts, including personal loans, credit card debts, and medical bills.
• Ideal for people who do not have many assets; Chapter 7 could require the sale of property.

Chapter 13:

• Is fitting for people who do have a stable income, but have fallen behind on payments.
• Consolidates your loans into a large lump sum, payable through a three- to five-year debt repayment plan.
• Stops creditors from contacting you for three to five years.

While these are the general conditions, be sure to keep in mind specific exemptions when filing in Ohio. Under Ohio bankruptcy law, the following is a list of property that is exempt from creditors even after declaring bankruptcy:

• 75 percent of your paycheck,
• Up to $10,725 worth of personal property, including clothes, appliances, pets, instruments, food and so on. Each item cannot be worth more than $525 (up to $1,350 for jewelry and $2,025 for trade tools),
• An automobile worth up to $3,225,
• Real estate up to $20,200.

In other words, even after declaring bankruptcy, you are still allowed to keep a significant part of your belongings, preventing you from truly being “bankrupt.” If you are facing serious personal debt, whether from an inability to pay current bills or from the need to catch up on overdue bills, filing for bankruptcy in Ohio may be a solution to getting back on track. If you are interested in speaking with a local bankruptcy lawyer in Ohio, simply take an evaluation or get in touch directly to determine your needs. Remember, laws are constantly changing, so it would be beneficial to consult a local lawyer for the most updated information. Filing for bankruptcy should not be your first option, but it can be the one that changes the course of your financial instability.

About the Author: Nestor Perris is a law student who is studying the differences between bankruptcy laws in each state. Always consult with a bankruptcy attorney, even if you aren’t sure you want to file. They’ll be able to help you determine what steps to take next.

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You work hard for your money. It’s only understandable that you want to make your money work hard for you, too. When you’ve put the hard work into saving your money, then you owe it to yourself to take your savings to the next step by investigating savings options that offer a return for all your hard work. Two such savings methods that you can capitalize on are money market accounts and savings accounts. Here to help you size up the two is this comparison: money market accounts versus traditional savings accounts – what’s the difference?

Bank restrictions. The bank is very limited as far as what it can do with your savings account deposits. Basically, you deposit the money in the bank and receive, in exchange, interest on that amount. The bank is paying you interest so that it can lend that money to other account holders. These other account holders then pay interest for borrowing that money, which is considerably more than what the bank is paying you in interest. The bank pays you your interest and keeps the difference. When it comes to money market accounts, the banks are much less restricted on what they can do with your money. They can take your money and put it into low-risk investments in order to increase their return. The result is that a money market account will offer you a slightly larger interest rate return than a traditional savings account.

Account holder restrictions. Both money market and savings accounts may put restrictions on account holders, which may vary from account to account. For example, it is not unusual to have a minimum balance requirement and/or to be limited to only a certain number of withdrawals per month. These account holder restrictions are based on both government regulations and banking institution policies.

Similarities. Money market and traditional savings accounts are, from the standpoint of a consumer, pretty much the same. Therefore, it is your best bet to choose an account based on the interest it will yield you. If you are banking at a small, hometown bank, then it is almost certain that you will get a much higher interest rate if you go with a money market account. However, if you shop the myriad financial institutions online, you will find that there are numerous accounts of both types that offer virtually the same interest return.

Make the most of your savings by putting it where it will count the most. Now that you know how to compare money market and traditional savings accounts, it’s time to go shopping – for the best account for you, that is.

About the Author: Celine Garramone enjoys her position as a personal finance counselor and accountant. She enjoys helping her clients learn the difference between a Roth IRA compared to a traditional IRA, different types of savings accounts, and living a debt-free life.

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Credit insurance has four categories: credit life insurance, credit property insurance, credit disability insurance and involuntary unemployment insurance. Credit life insurance is designed to either fully or partially pay off your loan upon your death. Credit property insurance comes into play when the personal property used to secure a loan is destroyed through no fault of your own. Credit disability insurance is designed to take over the loan payments in the event you are injured and cannot bring in income. Involuntary unemployment coverage takes over payments if you happen to lose your job – unless you are fired.

Credit insurance is not for everyone. Depending on your needs and the cost of the credit insurance, it could be more worthwhile to purchase a different insurance product, such as life insurance. If a lender is advising you to purchase credit insurance, ask them how much credit coverage premiums will cost. Will you be required to pay the premiums out of pocket or will the money come out of the loan itself? If so, how much would the loan payments be with the credit insurance? How much would they be without the credit insurance? How long does it take for the credit insurance to become effective? Is it possible to cancel the credit insurance at some point? How would you be refunded if cancellation is possible? Will the credit insurance pay back the loan entirely or partially?

If you make the decision not to purchase credit insurance, make sure to explicitly inform your lender. The lender should let the matter drop at that point, but if they don’t, then find someone else to get the loan from. Always read through the loan agreement to make sure that they haven’t “forgotten” to remove the credit insurance component. If the lenders refuse to give you a loan unless you get the supposedly “optional” credit protection, then do not let them pressure you into anything; instead, go to the FTC, state commissioner of insurance or state attorney general and report your lender because what they are doing is against the law.

To learn more about insurance products take some time to visit Complete Insurance and get caught up on the latest in car insurance.

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The Good About Super

The government makes such a fuss about the superannuation that we forget the fact that it is only one plan of saving. You are permitted to save outside the superannuation system and still have access to the same expanse of investments which include property, shares, bank accounts, trusts, insurance bonds, term deposits, rare coins, antiques, or ostrich farms.

Image by Pat Dalton... via Flickr

The Advantages of Super Over Other Forms of Investment

1. It will be there when you need it. The superannuation system has two primary variations in the way you can invest, either inside, or outside:
   1. You can remove part, or all of the investments you have placed elsewhere outside the system. A bank account is an example where you can withdraw funds at any time.
   2. However, you cannot generally access superannuation savings, until retirement when you are at least 55 years old.
2. It has tax benefits
   In most cases, the marginal tax rate you have to pay on the interest earned from a bank account is much higher that the special concessional tax rate that applies to superannuation funds.
3. Your employer is obligated to contribute
   Employer contributions are one of the most appealing features to the superannuation. The bulk of your superannuation is probably made up of employer contributions, so your retirement is already in good shape.

The drawbacks to the superannuation are that it is confusing and causes misunderstandings. Because its basis is financial, it is always changing. Besides being complex and restrictive, it is loaded with fees. Certainly, the government is to be commended on a compulsory super system, however, Australians as a rule, do not have savings accounts, and many own only their home upon retirement. If repayments had not been kept up, the bank would have taken their homes!

Voluntary and compulsory super is good, despite all the criticism. It exemplifies regular saving and tax-efficiency. Also, it is generally invested in good quality, long-term assets, such as shares, property and fixed interest. Furthermore, like your house, you cannot retrieve the money once it is invested, which is a huge plus. Therefore, a vital part of your long-term financial plan should be the superannuation.

What You Actually Need to Know

There is only a handful of key issues you need to understand on the superannuation, once you strip away the legislative technicalities.

The Amount You Already Have

Your annual statement will show the amount you have already contributed to the super. NOTE:
Over the years, as you have started new jobs, each one would doubtlessly generate another superannuation account. It is possible that you have considerable amounts in the different superannuation funds. However, by consolidating your super wherever it is feasible, you can save money in fees and make it less complicated to follow the development of your super account.

Amount Needed

Generally, 75 percent of your pre-retirement income is the recommended amount, although circumstances may vary greatly among individuals.

Bridging the Gap

There may be a shortcoming between the amount you should be contributing to the superannuation and the amount you are actually contributing. You can make up the difference by increasing your contributions and maximizing the returns you are receiving from the amount you have already accumulated.

Combining the two would ideally be the best way to ensure that your savings fund at retirement is adequate.

1. Increasing Your Contributions

The net returns will be higher if you top your superannuation. The advantage is that you will be concessionally taxed while you save. Currently, for most people the tax paid in respect of superannuation is less than that paid in non-superannuation alternatives.

How to Contribute

You can put money into the super two ways:

a. your employer can contribute an amount on your behalf, which is presently 9 percent.

b. accumulate super by making contributions of your own by taking money out of your salary, or by contributions with no returns tax wise.

Salary withholding means choosing to receive less salary and having that amount credited to your super. The advantage to this is that the tax on contributions is paid at the rate of 15 percent rather than your current tax rate. In the end, as you pay less tax, you augment your investment.

If salary withholding arrangements are not obtainable, superannuation endowments will have to be paid with money after the taxes have been taken out. Defined as un-deducted contributions, they have never, or will ever, be claimed as tax deductible.

2. Increasing Your Returns

Contributing to a fund that permits you to choose various types of investments will maximize the return from your superannuation fund. As a result, your super fund will suit your individual risk profile, your needs and your stage of life. Do not miss out on some golden growth opportunities by neglecting to take the time to evaluate the alternatives.

Investing your money now in a way that suits your needs for either growth, or for security of your capital, ensures that you are maximizing your chances of bridging the retirement gap. The gap is the difference between how much money you currently have, and how much you will ultimately need to fund a comfortable retirement.

Managing Your Own Super Fund

Setting up your own self managed super fund (SMSF) may have advantages, but it is not for those who do not have the time, dedication, money or the skills to do so. Severe penalties await those who violate the guidelines set down by the legislature.

The primary reason for setting up a SMSF is to provide funds for your retirement, not for present use and diversion. However, it does give you more choices in a wider range of assets to invest in, along with more control over the investments. Managing your own super fund can be rewarding, but it is also a great responsibility.

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Currency is a product and, like any other product, it is bought and sold in what is known as a currency exchange market. The value of a currency is reflected as an exchange rate and the currency exchange market operates by selling one currency (for example the US dollar) and buying another currency (British pounds) in exchange. In effect, one is swapping one currency for another at their respective values.

The rationale behind trading (or swapping) in the currency exchange market is to make a profit if the currency that is purchased appreciates, i.e. becomes more valuable. For instance, if one purchases currency A, trading at a certain value and the value of currency A increases, trading it back will result in a profit. Of course, if currency A depreciates, then there is a loss instead of a profit. There are no time pressures and one can hold on to a certain currency until, if ever, it appreciates to a profitable level.

Trading on the currency exchange market is a specialized and full-time job better left in the hands of those who are trained to do so. The big question is always what determines the value of a currency. Supply and demand for a certain currency is the major factor. This may, in turn, be influenced by a country’s economic performance as evidenced by its GDP, trade and employment statistics, the political situation in a country and arbitrary intervention by a country’s monetary policies to curb inflation. The key to trading on the currency exchange lies in being able to predict the effect of all these on the value of a country’s currency. With increasing globalization, prediction becomes even more difficult.

Before trading on the currency exchange market, here are some things worth remembering:

• Become familiar and keep up-to-date with the economic data of major currency exchange markets. These markets operate round-the-clock so time becomes an important factor.
• Remember that expectations do not equal outcomes. As is the case with any estimate, alternative scenarios with different outcomes can lead to better decisions and help prevent shocks.
• Study the historical performance of currencies and relate this to their causes. In many cases, this knowledge will aid in interpreting the influence of data and events on the price of a currency.
• Translate data and news about a country into its effect on currency. Interest rate, economic growth, inflation, employment and politics will eventually find their way into the value of the currency.
• Don’t forget the “black swan”. Unforeseen developments (like a major earthquake) will override fundamentals in determining the value of a currency, at least for a limited period.

Brokerage firms operate in the currency exchange market, and some even provide online services. Before participating in currency trading via a brokerage firm, it is important to know as much as possible about the company. Stability and reliability, trading success history, customer support and commission structure are all issues that must be looked at.

Going to market can be both fun and profitable or a disaster, depending upon the “shopper’s” ability and know-how. The currency exchange market is no exception.

Article by Debbie who loves to write about personal finance, business and foreign exchange.

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Is the loan unsecured?

It is a favourable sign if the loan is obtained on the credit of the company alone, because in the event of financial embarrassment, the bank or other lender will not rank ahead of other creditors i.e. it will have only the same claim on the assets of the company as the trade creditor. They will not be preferred. (There may however be a right of offset to consider.). On the other hand, an unsecured credit facility today may become secured tomorrow.

Is the loan endorsed or guaranteed?

From the trade creditor’s point of view, these loans do not prefer the claim of the bank or other short term creditor to that of the trade creditor. Under ordinary circumstances, however, it is not as favourable a sign as a loan obtained on a straight unsecured basis since the bank felt it necessary to obtain the guarantee or endorsement of a third party. This may imply that the credit risk is not as attractive as in cases where loans are granted on an unsecured basis – but it may not. The “third party” may be simply the directors of the borrowing company.

Is the loan secured by an asset of the company?

Principal assets pledged by a company for short-term loans are receivables, inventories, shares and other securities, life insurance policies, and equipment. This type of loan is generally obtained by a customer who cannot obtain the funds on his/her own credit, indicating the credit risk is not attractive enough to the bank or lending agency for loans on an unsecured basis. In addition, it places the bank in a preferential position regarding its claim on the assets of the company in the event of liquidation. Trade creditors are, as a result, in a disadvantageous position, for often some of the most important assets of the company, such as receivables, are then not available to meet general creditors’ claims in the event of financial embarrassment. There is an exception, when short term secured bank loans do not indicate any weakness on the part of the borrower. It is possible that a company may have pledged such assets as government securities or cash surrender value of life insurance policies for the purposes of obtaining a more favourable interest rate.

Does the company have a line of credit available?

Since most short-term loans from banks are overdrafts, many companies have an amount of unused credit available. These lines are set up for a definite period of time but are usually subject to review. A comparison of the actual bank debt with the line available is informative. If only a small part of the line is in use, you know the company has available additional short-term funds if needed, but it could also be holding cheques in the “bottom drawer”. This is particularly important information regarding a business with extreme seasonal demands.

Are borrowings of steady nature? Banks prefer that their customers clean up short-term loans at least once a year. It is very informative to know the maximum amount of borrowings in use during the year. Bank loans may have temporarily been reduced to show a more favourable condition at the time of applying for credit. Where large loans are owing after the normal manufacturing or active selling period has been completed, there may be reason for closer investigation.

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