Fortune Watch

All credit cards offer many benefits and features. Some come with a few disadvantages. To convey my point I will leave the disadvantages for others to write about. All credit cards are good in their own way for their own purpose and for that specific applicant. There are many credit cards for applicants with good credit, bad credit or with no credit at all.

There are the so called “bad credit cards” and the “good credit cards.” Bad credit cards fit consumers looking to build “good credit.” Good credit cards fit consumers with good credit looking to take advantage of benefits that suit their daily lives. So are all credit cards good? Yes, because in some cases you have to start somewhere and sometimes, it comes at a price.

Consumers with good credit attract the credit cards that would better suit their income, credit history, spending habits and paying habits. Many credit cards that approach consumers with good credit tend to offer great transfer rates and lower interest rates on future purchases as long as the consumer’s credit doesn’t change in the wrong direction.

Everyone has their individual needs and perceptions of their credit. So the only challenging factor for someone with good credit is to maintain the good credit status and keep a close eye on your credit limit to credit debt ratio. In my opinion, your ratio should be at around 25% to 40% because it is a responsible level to be proactive in managing your credit cards. A 25% credit limit to credit debt ratio would be $250.00 balance on a $1,000.00 credit limit.

Instead of them being called bad credit cards they should be called best credit cards. If you cannot get over yourself by accepting a credit building card, maybe a secured credit card from your bank would be the best choice as long as they report to the credit bureau. Never think bad credit is forever or that it can’t ever improve, it can with responsible steps.

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During the recent stock market carnage, two sectors that investors seem to be complaining the most about are real estate and banking. Many banks’ stocks, even those of major banks have fallen by around 50 per cent.

As I write this, Banks are all down around 50 per cent from their one-year high points. However, real estate stocks have done far worse. The stocks of companies that were once pointed to as leading lights of the industry have fallen by 70 to 80 per cent or even more in some cases. Curiously, the fall in real estate stocks appears to have surprised many people far more than banks’ declines have.

The reason appears to be that there are plenty of stories around that supposedly explain why bank stocks have declined. The agricultural loan waiver was one, the rise in interest rates is another and the sub prime mayhem in the financial sectors in the US (and to a lesser extent, Europe) is yet another. Do these stories make sense? By themselves, they do, yet they don’t add up to the kind of price decline that has happened.

Interestingly, unlike real estate, there are still buyers for bank stocks. Many mutual fund managers for example, are happy that they can now buy bank stocks at far more reasonable prices. It seems that bank stocks are basically suffering from a stampede towards the exit from foreign investors who are now painting all financial stocks around the world with the same brush.

Investors in both these sectors are complaining loudly. So does that mean that bank investors and real estate investors are in the same boat? Not quite. Here’s a story that will help you figure out the difference:
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The good news for women: they live longer, so they will have longer to enjoy their retirement. The bad news: they live longer, and so their retirement will be much more expensive than for their male counterparts.

The fly in the ointment: As a woman, you may have to put in more effort before you get to enjoy a worry-free, financially secure retirement.

Women earn an average of 76 percent of men’s salaries. Does that shock you? Yes, even now, women are still way behind the earning curve in corporate America. But rather than get into a discussion of the fairness or unfairness of it all, let’s concentrate on just what women can do to ensure that they aren’t left out to dry in their retirement age!

After all, because women typically live longer than men, combined with the skyrocketing divorce rate, many women will find themselves alone in their older years. (Statistics show that most women are alone by age 56!) And the figures show us that if a woman took out any time from her career to have children (about seven years) she will pay for it later with only 50% of what her male counterparts will receive in retirement benefits.

So, what can a woman do to ensure that she can retire in style? Start by taking a look at some of our suggestions below.

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Personal bankruptcy is a procedure which, in certain jurisdictions, allows an to declare Personal Bankruptcy. In other jurisdictions, bankruptcies are reserved for corporations.

A personal bankruptcy is a form that when filed will discharge obligations to creditors. Bankruptcy forms can be located online or an attorney can prepare one for you.

Contrary to popular belief, personal bankruptcy does not discharge all debts. Specific types of student loans, called secured student loans, must be paid even after some one has filed bankruptcy. Also, it won’t discharge taxes owed to the state or federal government. Likewise, child support payments and money owed to victims of drunken driving accidents will still be required to be paid.

Personal Bankruptcy does however discharge ‘unscheduled debts’. Unscheduled debts are things like money owed to creditors, which include credit card companies, auto loan lenders, and money owed to personal contacts that lent you money. These creditors and others who are owed must line up to try and get any property not exempt under their state’s exemption laws. Those who are deemed most worthy get their pick of the debtor’s bankruptcy estate first, and on it goes until nothings left but assets that are exempt from being taken under that state’s laws.
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Don’t fall behind : Finance charges, interest payments, getting discouraged about your finances… all problems that can occur if you let yourself fall behind. Whether it’s bills, credit cards, or student loan payments, falling behind can be a very difficult problem to come back from. The more you have to pay out in charges, the less you will have to invest in your future.

Set goals : If you don’t know where you are headed, how do you get there? In order to accumulate wealth you need a plan. Write out your goals, a way to achieve them, and you’ll be on your way to an early retirement.

Invest early : The greatest thing you can do to build wealth is start early. Even if you can’t invest much, start with what you can and let your money grow over time. As Albert Einstein said, “compound interest is the greatest mathematical discovery of all time.”

Invest in what you know : Whether you are looking to invest in real estate, stocks, or anything else, make sure you know how the investment works. The great Warren Buffett was often criticized for not investing in technology during the dot-com boom. His answer was simple. If you don’t know the business model, what the company does on a day to day basis, or how it generates revenue now, and in the future, then stay away from it. This principle can be applied to all types of investing.
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The Best Return on your Cash. Sure, stocks are much cheaper now than they were at the first of the year. So are houses.

But if you’re carrying a lot of credit card or other debt, your best investment is to pay down that debt.

What is the best investment you can make?

Here’s a hint: It will earn you a guaranteed return that will beat just about any stock on Wall Street.

This investment doesn’t require more than two minutes of research and you have everything you need to begin right now.

I’m not talking about a stock, bond or mutual fund, but an investment in lowering your personal debt. Too much high-interest credit card debt is never a good idea and considering the economy remains unstable, now is a good time to reduce those balances.

Start with your highest interest debt (probably a credit card). If you have been a good customer and your interest rate is more than 12 percent, ask the issuer to lower it.

If the issuer won’t give you a break, consider switching the balance to an existing card with a lower interest rate (don’t get a new card just to get a new rate).

Make up your mind to pay off all the high interest debt as soon as possible. This may mean giving up some luxury or skipping expensive presents until the job is done.
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Buddha was born into wealth as a prince, but as a young adult he chose to turn his back on material wealth in order to focus on a spiritual life. Yet many of Buddha’s teachings give us the exact wisdom we need in order to create great material wealth. Only a Buddha can explain to the world the truth related to the world …. start with a relatively small bankroll and actually become a multimillionaire.

In the Dhammapada, (the essential teachings of Buddha) Buddha begins by telling us that everything in our life comes from our thoughts. He says that whatever we want in life has to begin in our thoughts, then we put it into our words and then into our actions. If we are consistent across thoughts, words and actions then we create our world to be as we desire it to be.

This teaching is the absolute essence of how wealth is created. First we must build riches in our mind.

In order to become wealthy you have to imagine yourself as wealthy. You have to believe that wealth is a natural state for you. You don’t achieve this, as many uninformed people suggest, by imagining an exact dollar amount by an exact date. I do not know a single wealthy person who has done that.

The way you create a state of wealth in your mind is to imagine the life that you would be living when you are wealthy. Imagine the freedom and opportunities that having a large amount of money could open up for you.

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In today’s world, making the most of our money is not just a catchy phrase; it is the difference between keeping homes or foreclosure; getting much needed prescriptions or buying groceries; bankruptcy or survival. Growing our money, saving time and being smart about our finances is the only way to make it in our economy.

We hear so much about the importance of saving on the nightly news, and yet very few are able to put any money away for the proverbial ‘rainy day’. The consequences for not having any savings can be dire; if there is no money stashed away to cover those unexpected emergencies, like a larger than expected utility bill or a car breakdown, the money for that has to come from somewhere. All too often Americans find themselves putting these purchases on a credit card with a maxed out limit or a too high interest rate, or taking out a payday advance with complicated fine print. Both of these are risky moves, avoidable with some proper planning and money management.

When it comes to savings, a little bit can grow a long way. If you are able to stash a small amount of a paycheck each month in a savings account that draws interest, you are already ahead of the game. Depending on how much you have in your account, you could be currently gaining upwards of 4% on top of that money. That means for every $100 you deposit in your savings account, add $4.00 on top. That doesn’t seem like much, but in a year of monthly deposits, you could earn almost $50.00 for just having your money sitting in the bank.

Banks even sometimes offer higher introductory savings rates or other perks such as higher rates to those who use online banking, to get new business. Contact your local banker or search the internet to find out what the best rates and terms are. While you are at it, does your checking account draw interest? Many banks now offer checking accounts that accumulate interest on the money you have sitting in the account. Again, rates vary, and banks do run promotional offers for these kinds of accounts, but who doesn’t like earning free money for doing nothing?
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From simple colds and viruses to life-threatening diseases, any kind of health problem can put a huge strain on your pocketbook. By adopting certain habits you cannot only save money on fewer doctor’s visits and medications, you can preserve your cash in other ways.

Below are eight frugal living tips that will actually lengthen your lifespan.

1. Quit Smoking
Although quitting may be easier said than done, it is a no-brainer that doing so will cut costs and help save your life. The CDC actually offers a helpful guide to quitting smoking, which could be a great resource when you decide to put down the tobacco once and for all.

2. Stop Tanning
There is a growing fad for people of all ages and cultures to look bronzed. If you are seeking the warmth of a tanning bed in order to look a certain way, then it is time you stopped. Quitting now will decrease your chances of developing malignant melanoma.

3. Cancel Your Paid Television
It is obvious how this will save money, but you may not see the direct connection to your health. Simply put, it will get you off that couch and encourage you to pursue more active, healthy activities.

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Before the year is over, you always have a list of New Year’s resolutions. It could be about an oft-repeated promise to lose weight, quit nicotine addiction, or to budget your paycheck and get out of debt.

But even before the first month of the New Year is out, you give up. These useful but practical tips will bail you out of the overspending trap. Budgeting a slim paycheck can be frustrating, especially when unexpected money emergencies crop up. If you are receiving less than $1000 every 14 days, the prognosis is grim. Cutting back on some regular expenses can be very inconvenient for you, especially if you have kids to consider; but better the one-time inconvenience than a lifetime of never ending debt.

For emergencies like this, it’s best to be prepared. Instead of dividing your money into the usual groceries and food, bills and utilities, and rent, add one more money envelope or money clip – this time, one for savings. Impossible, you say, because you can barely survive on your paycheck.

You are right – it is downright impossible to save money when you’re already penny-pinching. Here’s how to stretch your budget some more. Go over your previous expenses and trim down the fat, and say goodbye to impulsive shopping.

Make the budgeting fun. Consider the amount you save as points, and these points should go into the savings envelope. You’ll marvel at the way your savings envelope grows, slowly but surely.
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