bookmark_borderBenefits of Hard Money Loans

  • Faster Approvals: Without a doubt, one of the major benefits of a hard money loan is the fact that investors can secure the pre-approval within one or two days, given they have submitted the handful of documents that the lender has requested. Hard money lenders primarily focus on whether the asset itself has good market value and that borrower equity is at least 20%. Financing can take place in less than a week, as compared to normal loans which may take a month or even more. When inquiring about hard money lenders, a key question to ask is how quickly they can fund.
  • Flexible Payments: With a private lender, you will have more freedom to create a customized repayment plan. With a big financial institution, you won’t have this freedom. Instead, you will have to accept the payment terms set by the bank. However, with a private lender, you can discuss and come to a mutually agreeable repayment plan that you think is suitable for you.
  • Fewer Requirements: When applying for a loan from a normal financial institution, you will be expected to meet many hard-set requirements, like income history, experience, etc. It is no secret that bank approvals can become a cumbersome process. It is likely that you will not be burdened with so many requirements by a hard money lender. As long as you have a high-value asset with at least 20% equity stake in it, there are good chances that you will qualify for the loan.
  • Zero Prepayment Penalties: If you obtain a loan from an established bank, you may be subjected to prepayment penalties if you pay off the loan prior to the maturation date. Most fix and flip lenders do not charge prepayment penalties, so if you come across extra cash and decide to pay off your loan before the due date, you can confidently do so without having to worry about being penalized for it.
  • Credit History Not a Big Issue: In the case of big lending institutions, your credit history can have a huge impact on whether you will get a loan or not. With private lenders, less emphasis is placed on a weak credit history. This is because of a private lender bases loan approval on property value, borrower equity, etc. As long as you meet these criteria, you stand a good chance of getting funded.

bookmark_borderBenefits of Belonging to a Credit Union

As they become more competitive in areas like ATM access and online banking, they may look increasingly like banks from the outside. But from the inside out, credit unions are unique. Instead of operating for the benefit of shareholders, as banks do, credit unions are owned by their members, for their members. When you join and open an account, you become a shareholder.

What this means, in practical terms, is that your membership offers you access to lower interest rates on loans, significantly lower fees on accounts, and higher rates on savings. Because they are not-for-profit organizations, any excess funds collected are returned to you, the shareholders, in the form of dividends.

They have been innovators in bringing the convenience of nationwide banking to their members without sacrificing the spirit of community. For example, they have teamed up with CO-OP Network, one of the nation’s largest ATM networks with over 30,000 locations, to bring you access to surcharge-free ATMs across the country and around the world. You can find a CO-OP Network ATM near you by visiting Or simply drop by a 7-Eleven store: surcharge-free CO-OP Network ATMs are available in over 5,500 7-Eleven stores nationwide.

They pride themselves by giving their members access to financial information. They offer seminars on topics such as preventing identity theft or managing your credit. Their websites contain resources about making smarter financial choices as well as managing money online.

Banks can seem cold, formal and even unreachable. Credit unions can be friendlier in atmosphere as well as tone and can simply be more accessible on every level. Being smaller and local allows them to be very connected to their community and much more adaptable to respond to member feedback.

Credit Unions offer nearly everything else a nationwide bank might offer-online account access, online bill pay, credit and debit cards, insurance on accounts, etc. But they do it within a member-focused philosophy; where the goal is to help the members achieve financial health, not just boost their bottom line. That’s why credit unions also offer a range of services, including free checking, lower interest auto, personal and real estate loans, financial planning, insurance, and member education.

bookmark_borderDifference The Between Rich And Poor

There are several factors in why the rich are getting richer, thought the biggest reason is their view of money. Most of the lower and middle class look as money as a way to live. The wealthy see it as a way to advance. Money is to be used as a tool, not a chain.

The viewpoint on money is deeply molded by those around you, especially family. Those not in the upper class were raised to work hard and save their money. Those from wealthy families are raised to work hard and invest their money. Most people stick with the lessons learned from their parents and use those principles for the rest of their life, thinking that that’s just how you are supposed to do things. If you were taught to invest by your parents that may be a good thing, though those from lower or middle class families might never climb to the next economic class due to this advice.

Many think that saving money is their best bet because you are guaranteed not to ever lose the money you put in, and see investing as a roulette wheel. Little do they know that they are wrong on both counts.

When keeping money in savings, you have 1 force working against you: inflation. On average, the national inflation rate is 2-3%. This means a $100 today will only be worth around $97-$98 next year. This inflation loss is offset by the interest rate you earn on your savings account. Nowadays, savings accounts are earning as little as.01%, as you can see at when looking at their “Popular National Banks”. With an interest rate that low, the inflation rate is higher than the interest so you would be losing money.

Interest rates weren’t always that low. Back in 2004, there were some savings products that had a 3% rate as shown on the website, though around 2007-2008 the rates began to drop. Those who were invested in the S&P 500 index, for example, suffered a drastic hit in 2008 as well, though this index fully recovered and even exceeded it’s pre-recession value in 2012 according to the S&P 500 Returns Calculator at From 2004 to 2013, investors in the S&P 500 index enjoyed an annual return of 4.88%, while savings accounts earned an average of 1.5%. Using the numbers shown on, the average inflation rate during the same time period was 2.38%, meaning that those who kept money in savings lost an average of.88% of their money.

Those who believe investing is a gamble simply do not know the basics of investing. Investigative steps should always be taken when making any type of investments so that you can make an educated decision on whether that investment will grow. This is opposite in gambling, where there is no amount of research you can do to improve your odds at roulette and walking out of the casino a winner. If you do not research or understand your investment, then it can be more like gambling. That, however, is easily avoid by doing your research before investing.

This fundamental change in view is the biggest difference between the wealthy and the not so wealthy. If the middle class invested more of their money rather than saving it, they would have a much bigger nest egg down the line which would put them in the upper class, though the risk of losing everything keeps many out of the market. Many are never taught to invest, so when they discover it later on the concept is intimidating so they avoid it. Those who are wealthy were taught to invest and use it as a tool to gain more wealth, so they continue to get richer. Investing is the tool wealthy individuals utilize that others are too afraid to use.

bookmark_borderReach Max Credit Score

If you have ever borrowed money or used credit in the past, you have a credit score that reflects how well you handled the credit extended to you. In general, you score shows how much credit you currently have available to you, how much money you owe on it and whether or not you are making timely payments on your current accounts.

Would be creditors and lenders use your credit score as a predictor of how likely you are to repay any credit extended to you. If you usually make your payments on time, you will surely have a better than average credit history, and it will be easier for you to obtain a loan from a bank or credit union. Those with the best credit scores qualify for the lowest rates.

If you have a poor credit history, you’ll find it difficult to obtain a loan from any lending institution and when someone does extend you credit, you will be subject to higher rates and fees. If you find yourself in this situation, it’s not the end for you. You have the option of taking the necessary steps to reach your max credit score. The following tips will help you succeed.

  • Create a solid plan and follow it. Be willing to implement changes and stick with it. Avoid making unnecessary purchases. Whenever you are making a purchase, ask yourself whether the purchase is affordable and necessary and only buy when the answer to both questions is a definite “yes”.
  • Even if your bad credit has prevented you from obtaining credit cards, you may be able to get a secured credit card. These cards have a high approval rate because you must provide a security deposit to fund your credit limit. Used responsibly, a new credit card can begin to improve your credit score.
  • Pay down credit cards and other forms of revolving accounts you have that are carrying a balance of over 50% of their credit limit. Ideally, you should carry balances of no more than 30%-35% of a revolving account’s limit. Carrying balances of greater than 50% of your limits, negatively affects your credit rating.

bookmark_borderMake Money With Online Bank Accounts

There is very good money to be make with this program, provided you know how to master the AdSense program. If you wish, you can do a search online for Google AdSense information. To master it properly, you need to know about ad positioning, colours etc. So its advised that you study up on this so you can maximise the most out of your Google AdSense bank account.

Another form of income online that most online business people use is affiliate marketing. With affiliate marketing, you simply promote and recommend products and services to the market that these products and services based in. That is affiliate marketing in a nut shell. In order for you, the affiliate marketer to receive payment, there has to be a payment service put in place. For many affiliate marketers, there is a common website that they go to in order to find products and services to promote. This website is known as clickbank. Clickbank offers affiliates over 10,000 digital products to promote and sell online. It is very easy to join up. You simply create an account with Clickbank and once that is done you can then access the many products and services that are offered by clickbank in many different categories.

When you sign up for clickbank, you can easily get an affiliate link for any product you wish to promote. You can place the link wherever you wish, whether it is on your website, blog etc. When a visitor views your page and decides to click on your affiliate link in order to buy what you are offering, clickbank can trace your link and is aware that you have made a commission. This is recorded into your clickbank account and you receive a commission for your promoting efforts. Its that simple really!

One final way to make money with an online bank account is perhaps via pay-pal. Lets say you are selling an ebook or some physical product and someone online wishes to buy your product. You can setup a pay-pal bank account so that you can take orders from customers that are interested in buying your product. This is a great way to do business online. Pay-pal is a very reputable company and it is used by many people that do business around the world! Unlike clickbank, where you have to wait a couple of weeks in order to receive payments. With pay-pal you can instantly receive the cash sum amount. So you never have problems with cashflow.

bookmark_borderWays to Avoid Inheritance Conflicts

  • Understanding the Personality of other Heirs: It is very important that you try and understand what kind of people the other heirs who are also involved in the settlement issue are. Analyse their basic traits and find out the way to communicate with these heirs. This approach often resolves most complications even before they arise and clears off lot of misunderstandings. Personality difference is often the main cause behind a conflict concerning settlements. It will become more and more difficult to avoid conflict or maintain peace without understanding the differences.
  • Keep the Home Untouched before Formal Division: It is very important that you don’t claim your right on something that logically belongs to other heirs. It can also mess with their emotional sentiments and can further complicate the case for you. This is why it is important that the house remains untouched or undisturbed till a legal division is announced. An in-depth scrutiny of the property is important before there is any legal division and you can contribute to the process by not disturbing anything. Without the consent of other beneficiaries or heirs if you remove items from an estate or a home it is very much possible that the issue will get complicated. Very often we see people making this mistake of just going into a property and picking what they want without any consent with the concerned people and such actions are often justified by them through some facts or instances of the past. That being said, legally it will only complicate the case.
  • Only Beneficiaries or Immediate Heirs should be Part of the Property Division: Property division is a sensitive case and hence it should not be made a mass trial. Only immediate heirs or beneficiaries should become part of the process and other outside influences like children of heirs, grandchildren, in-laws, spouses etc should be kept away from the process. This is particularly more important at the beginning of the division process.


bookmark_borderCredit Score Works

Simply put, having a good credit score will save you money. If you have a good credit score, you’ll be able to negotiate the best rates on loans. This may include car loans, mortgages, student loans, or any other type of loan. Someone with a high interest rate on a loan will have to pay more money during the life of the loan. Someone who has a low interest rate will end up paying less money over the life of the loan.

According to FICO, there are 5 metrics that comprise your credit score:

35% Payment History – If you pay your bills on time, your score improves. If you pay them late, your score drops.

30% Credit Utilization – You should aim to use about 10 percent of your credit limit every month, but no more than 25 percent. This will keep your credit utilization ratio in good standing. Also, do not close your credit card accounts unnecessarily because this will adversely affect your utilization ratio.

15% Length of Credit History – The longer you have a credit history, the better your score. It’s important to constantly use your credit cards from month to month to keep them revolving. If you don’t use them, your account will be shut down and your history will be impacted.

10% Types of Credit – Lenders want to see that you have a well rounded borrowing history, so it makes sense that 10 percent of your score is affected by having different types of loans.

10% Recent Searches for Credit – A hard inquiry affects your score. A hard inquiry is when you apply for credit through a lender. If you shop for a car and are trying to get an auto loan, don’t worry about shopping around for a rate. FICO has an electronic algorithm in place that detects this, and you will not be penalized for rate-shopping within a 2-4 week period.

Bottom line, no. You cannot hurt your credit score by inquiring about it. However, your credit score will fall if you apply for credit too much. For example, your score is affected if a lender checks your score when you’re applying for a loan.

You can obtain a free copy of your credit report every year from It’s important to check up on the health of your credit every year. You should check to see if it’s improving. You’ll also be able to find out if you’re a victim of identity theft.

Having healthy credit takes discipline, but it can be done. Practice the tips outlined in this post and you’ll be well on your way to financial independence.

bookmark_borderCredit Card Reward Points

In fact, using these points and offers will help you save money and a significant amount of it as well! But, in order to save some, you will have to spend first. So, how does the whole thing work?

For starters, the number of reward points you can collect depends on the type of card you avail. For instance, your reward points will vary if you have a gold or a platinum card and it’s different for a co-branded card. For instance, for every x amount you spend, you will earn a certain number of reward points. The value of x will across banks and also depend on the type of card you own.

These points will accumulate from the time you start using your credit card. The longer you save these points, the more will be their value. And, yes you needn’t worry about these having a validity date. You can make use of them, until the time your card expires.

The types of credit card rewards mainly includes; cash or points.

For some of us, it wouldn’t be saving if it wasn’t in the form of cash. This is precisely why a cash back offer makes perfect sense. Now, to avail these offers easily, you must first have used your card for sometime now (at least 6 months) so that you may be eligible for such offers. Also, ensure that you are prompt in paying your bills, some banks tend to cancel your rewards if your bill remains unpaid. How much you can get back depends on how much you have spent and you will find the same as part of your monthly bill statement. It will give a summary of how much you have accumulated till date.

If saving is not your only aim of earning credit card rewards, then take a look at the reward points you have earned till date. Most banks offer reward point facility to either purchase a gift of your choice from their very own catalogue or if they have partnerships with various merchant outlets, you can very will have the option of using your points there. For instance, if you have shopped for Rs.2000, and you have earned points worth Rs.500 you sometimes have the choice of using these points to get some discounts on your bill. You can avail some attractive offers when you shop online.

Or, if you have a co-branded card, wherein your bank has issued a card for exclusively one bank such as petrol cards or air mile cards and so on. This means that you can get the offers and points only for that particular brand of petrol or from a particular airline company only. Miles are usually calculated for every air mile travelled. These are indeed popular forms of saving up on air travel.

In order to make the most of these benefits, you will first have to sign up a redemption form available from each bank. These are simple, online forms. Once that’s done all you have to do is keep a track of your points that get accrued till the time you want to redeem them.

Credit card reward points are definitely a good idea, but does that mean you will need to use your credit card more often? That is definitely one thing you need to keep in mind, because at the end of it all, you will be paying your bills and not to forget those high interest rates that come with it.

bookmark_borderPayment Gateways

Payment gateways platforms can also be used with conventional brick and mortar businesses because they act as an equivalent on a point of sale (POS) terminal. These gateway are designed in a scalable manner to protect credit/debit card details by encrypting sensitive card related information in such a manner that information is securely passed from the client to the merchant and to the payment processor and also vice versa.

To begin with, before accepting an online payment a business requires a merchant account which is basically a special kind of bank that handles any cash received via credit/debit cards. Businesses that are already swiping their client’s card already have merchant accounts. In case your organization would like to process credit/debit cards when the clients are not physically present then they will have to acquire an internet merchant account. There are several internet merchant accounts available online and these only require registration and information validation.

Discount rate. These tend to vary but mainly play in the region of between 2-6%. These are commissions paid to various players (credit card provider, payment gateway, merchant account provider) who are directly involved with various credit/debit card transactions. These costs largely depend with the company that you are dealing with.

Monthly fees. All gateways come with some form of monthly fees and this is largely dependent on the number of features and services provided by the gateway. For instance, there is the fraud detection feature that comes with extra charges. This particular feature is recommended when accepting payments from individuals and businesses that you do not have some long existing relationships with.

Per transaction fees. There is some flat rate charged per each and every transaction completed with a credit card

bookmark_borderWays to Destroy Your Credit

  • Live a lavish lifestyle – Maybe you pay way too much for your rent or mortgage. Perhaps leasing that fancy car was not the best plan. It feels good to have new things to wear each week, but is it practical? Your living expenses are supposed to fit under the umbrella of your income. This includes basic living needs and all the bills to support it. Do your monthly expenses fit under this umbrella or do you live on credit cards to make it happen?
  • Ignore your debt – Not sure how much you owe on all your credit cards? How many cash advance online loans have you used in the last year? Did you push your student loans into forbearance for another year? You can live to ignore your debt, but eventually it is going to show its face to you. It won’t be pretty. Credit limits will be gone. Interest rates will soar. Student loans will grow bigger each day with added interest. How long can you not pay off your cash advance before it eats up every paycheck? Pretty soon, even a direct lender would not service your need for cash. Then what?
  • Home Equity Spent – You took a loan out against your home. Your child had a marvelous wedding or to pay for college. The added bill payment each month has become a struggle with everything else under your income umbrella. You know that your house is at risk if you don’t pay this bill, right?
  • Borrow from Retirement – The money came in handy. Hopefully it was used for something necessary like property taxes or to pay bills between jobs. Early withdrawals could hit you with increased tax liabilities. How are you going to pay for that?
  • Student Loans – Can you afford to take out a PLUS loan for your child’s education? Will you still be able to put funds into your retirement account? You are responsible for this payment now. No one wants to see their child drowning in debt, but you don’t have to kill your finances either. Let them take out the loans and then help them with the payments without hurting your own finances… unless of course you do want your money problems to compound.
  • Delay Delay Delay – This plan of action works best as a soccer defenseman; with your finances, not so much. Haven’t started a savings account yet? Never even thought about retirement? The more time it takes to begin, the less time your money will have to work for you in your favor.