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  • Simple Ways to Reduce Your Monthly Expenses
    insurance needs home health auto and life Many companies offer discounts when you bundle your policies together which can result in significant savings Ask about other discounts which you might qualify for If you have a teenage driver there are generally discounts allowed for students on the honor roll and completion of a driver s education course Cable Satellite Television Do you really need access to 500 channels Premium movie channels can also be costly Many programs are available over the internet for a much lower price Movies can also be rented through kiosks and companies such as Netflix for less cost Don t continue to pay for services you rarely use Landline Telephone Landline telephones have almost become obsolete Nearly everyone uses their cell phone for both personal and business calls so consider doing away with your home phone if you are still paying for it Reduce Your Food Bill Many people have no idea how much they really spend on food every month This includes both groceries and dining out If you go out to lunch every day with co workers the odds are you spend between 5 00 and 10 00 each time That adds up to a whopping 25 50 per week or 100 200 per month If you bring your lunch from home just twice a week the savings will add up quickly Generally preparing food at home is much less expensive than eating out and probably better for you Planning meals and using coupons can result in big savings at the grocery store Hint Never shop when you re hungry Re finance your car If you have a good payment history with your car loan company consider asking them to re negotiate the terms of your loan lower interest rate This can significantly reduce your monthly payments If they won t work with you contact other lenders and ask about refinancing your vehicle Bank fees If your bank is charging you a monthly fee ask about totally free checking Don t get hit with ATM fees always use your bank s ATMs when you need cash Most large retail stores including grocery stores offer a cash back option if you use your debit card for payment Generally you can obtain up to 50 per transaction with no fee charged Remember there are other banks and credit unions available Take your business elsewhere if you are not satisfied with your current financial institution These are just some of the ways you can reduce your expenses and free up more cash to use towards saving and also paying down your debt But don t think that just because you are learning to live more frugally it means you have to stay inside your house and never go out Far from it Consider these ideas Instead of paying for a costly gym membership which you never use go for a walk or run at a public park or recreational area It s free and you also get

    Original URL path: http://www.paydayadvance.org/Simple-Ways-to-Reduce-Your-Monthly-Expenses (2016-02-17)
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  • The Importance of Saving
    financial situation that occurs and they always occur If you have to take on new debt such as a loan or new credit card purchase each time you have a monetary emergency your road to financial freedom is going to be a bumpy one If you have never saved before it may seem like an impossible task But the important thing is to start No matter what your current financial situation is the time to begin saving is now If you are in debt it is vital that you get in the habit of saving and also aggressively pay down the money you owe Start Small if Necessary but Start You may not have a lot of money to put aside at first and that s ok The important thing is to start Here are some suggestions to help you begin Go over your budget Make cuts everywhere possible The more you trim your monthly expenses the more cash you will have to put away Sign up for direct deposit at work Have a certain amount deducted from each paycheck and deposited into a savings account Even if it s just 20 to start do it As your outstanding debt decreases increase the amount you save Pay yourself first This is a great rule to live by Consider your savings like any other bill you pay Keep the change At the end of each day put your extra change into a jar Every month add up the coins and put the total amount into your savings account It may not sound like much but even a dollar a day is 365 a year It all adds up Stop overspending Put away the credit cards and live on a cash only basis Research has proven that consumers who pay for purchases

    Original URL path: http://www.paydayadvance.org/The-Importance-of-Saving (2016-02-17)
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  • Car Title Loans with Bad Credit
    doesn t seem unreasonable but this is the monthly interest rate For example if you are told the interest rate is 25 on a car title loan the actual annual percentage rate APR will be 300 There also can be document fees an origination fee processing fees and lien fees As an example here is what might happen with a typical car title loan Let s say the loan amount is for 500 and the repayment period is 30 days You offer your car title as collateral along with an extra set of keys to your vehicle if you fail to repay the loan when it is due the lender now owns the car and can repossess it regardless of its value Average fees on a loan such as this would be a 15 origination fee a 5 processing fee and a 5 document fee You would then sign the loan agreement in which you promise to pay the lender 125 in interest 25 plus the 500 principal amount And it s all due in 30 days If you are unable to repay the loan when it is due many lenders will allow you to extend your loan for another 30 day period Most will require that you pay the interest amount 125 on the original due date Loan extensions vary according to the state where you live but on average a car title loan is rolled over at least four times before being fully paid off The true cost of this typical 500 car title loan would be this if you had to roll it over three times for a total of 4 months 15 origination fee 5 document fee 5 processing fee 500 interest charges So to borrow 500 dollars plus incur the risk of losing your vehicle you would now have paid an additional 525 in interest and fees You would have spent 1025 to borrow 500 These are sobering facts which should indicate to you the seriousness of borrowing cash with a car title loan Steps to Take If you have bad credit and are considering using a car title loan to get the cash you need here are some suggestions worth thinking about before making a final decision Investigate other borrowing options These could be a cash advance from your employer borrowing from a trusted friend or family member or maybe a credit card advance Consider your personal circumstances Seriously look at your overall financial picture Imagine if you were unable to repay the car title loan and you lost your vehicle How would you get to work Is it worth it Look at what put you in this position Living from paycheck to paycheck is difficult at best Unforeseen expenses always seem to happen at the worst possible time To help avoid future financial problems find ways to cut expenses Have a yard sale Sell items online All of these are less risky than taking out a car title loan Change your spending habits

    Original URL path: http://www.paydayadvance.org/Car-Title-Loans-with-Bad-Credit (2016-02-17)
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  • Truth In Lending Act
    noted on all loan documents presented to the consumer before signing The Truth in Lending Act applies to all types of credit Closed end credit such as auto loans and mortgages is covered as well as open ended credit such as credit cards More specifics of the Truth in Lending Act are as follows This Act Title I of the Consumer Credit Protection Act vests the Commission with responsibility for assuring compliance by most non depository entities with a variety of statutory provisions Specifically the Act requires all creditors who deal with consumers to make certain written disclosures concerning all finance charges and related aspects of credit transactions including disclosing an annual percentage rate The Act also establishes a three day right of rescission in certain transactions involving the establishment of a security interest in the consumer s residence with certain exclusions such as interests taken in connection with the purchase or initial construction of a dwelling The Act also establishes certain requirements for advertisers of credit terms A number of later laws see below made substantial amendments to this Act Fair Credit Billing Act 15 U S C 1666 1666j This Act amending the Truth in Lending Act requires prompt written acknowledgment of consumer billing complaints and investigation of billing errors by creditors The amendment prohibits creditors from taking actions that adversely affect the consumer s credit standing until an investigation is completed and affords other protection during disputes The amendment also requires that creditors promptly post payments to the consumer s account and either refund overpayments or credit them to the consumer s account Get Help contact us How It Works The Loan Process Rates Fees Terms Conditions Privacy Policy FAQ Application Help Loan Process Payments Extensions Personal Finance Saving Money Learning to Budget Debt Help Retirement Planning

    Original URL path: http://www.paydayadvance.org/Truth-in-Lending (2016-02-17)
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  • Fair Credit Reporting Act
    or delete any information which is inaccurate incomplete or cannot be verified Consumer reporting agencies cannot report outdated negative information Access to your file is limited You must consent before your report is given to employers More information regarding the Fair Credit Reporting Act is listed below The Act protects information collected by consumer reporting agencies such as credit bureaus medical information companies and tenant screening services Information in a consumer report cannot be provided to anyone who does not have a purpose specified in the Act Companies that provide information to consumer reporting agencies also have specific legal obligations including the duty to investigate disputed information Also users of the information for credit insurance or employment purposes must notify the consumer when an adverse action is taken on the basis of such reports Further users must identify the company that provided the report so that the accuracy and completeness of the report may be verified or contested by the consumer The Red Flag Program Clarification Act of 2010 Pub L 111 319 124 Stat 3457 clarifies and narrows the meaning of creditor for purposes of the Red Flags provisions The Fair and Accurate Credit Transactions Act the Credit CARD Act and Dodd Frank Act see below made a number of substantial changes to this Act Fair Credit and Charge Card Disclosure Act codified in sections of the U S Code particularly 15 U S C 1637 c g This Act amending the Truth in Lending Act requires credit and charge card issuers to provide certain disclosures in direct mail telephone and other applications and solicitations to open end credit and charge accounts and under other circumstances Get Help contact us How It Works The Loan Process Rates Fees Terms Conditions Privacy Policy FAQ Application Help Loan Process Payments Extensions

    Original URL path: http://www.paydayadvance.org/Fair-Credit-Reporting (2016-02-17)
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  • Improve Your Credit by Using Payday Advance Loans
    need but also can improve your overall credit score How a Payday Advance Loan Can Help Your credit rating is determined by how you repay the outstanding debt you owe Making consistent timely payments is the key to having a solid credit score Every time you make a payment to your mortgage company or car loan lender or credit card company it is reported to the various national credit reporting agencies Financial lenders like to see an extended period of on time payments on all your accounts With a payday advance loan you can help yourself by simply repaying the loan on time Take out a small loan that you can easily afford to repay within the two week period Pay it off when it is due Each time you do this successfully you improve your credit Plus when lenders see how responsible you are in paying off your loans you may have an easier time obtaining better terms and larger loan amounts when needed To be fair short term loans do not have the same impact on your credit rating as a mortgage or car loan But successfully managing your finances including the use of payday advance loans is always a plus Most payday advance lenders report your repayment history to credit reporting companies Each time you take out a loan and repay it fully and on time it positively impacts your credit score Conversely if you ever default on a loan it can have a serious negative impact You should be aware that a payday loan contract is as legally binding as a loan you might receive from a bank or credit union If you fail to repay the loan the lender can start collection proceedings against you to recover the money you owe Get Help contact us

    Original URL path: http://www.paydayadvance.org/Improve-Your-Credit-by-Using-Payday-Advance-Loans (2016-02-17)
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  • Common Warning Signs of Impending Financial Disaster
    funds from these accounts also has serious tax implications You would be better off cutting back your lifestyle and selling everything you don t truly need 3 You fight with your partner spouse over money issues Constant fighting about financial issues is one of the fastest ways to ruin a relationship It also is a sign that a financial crash may be about to happen All couples have occasional arguments about money But if you are experiencing continual never ending disagreements over your finances it may be time to seek both financial and marriage counseling 4 You re paying overdraft fees and bouncing checks If you are paying overdraft fees non sufficient fund fees or other penalties assessed by your bank this is a clear indication that you are in serious financial trouble It s a warning sign that screams too little income and too many expenses Consider professional credit counseling to help get you through this financial turmoil Ignoring the situation will only make matters worse 5 You re playing credit card roulette Savvy consumers know how to use credit cards to their advantage If you can earn reward points with your purchases and always pay off the entire balance each month using credit cards is not a problem However if you consistently charge everyday purchases such as groceries and gas and only pay the minimum amount due every month you re on very shaky financial ground Your credit card balances will continue to rise and you will be paying higher interest charges The typical household in America who has credit cards carries an average outstanding debt of over 15 000 If you are moving credit card balances from one card to another trying to reduce your debt you are fighting a losing battle The harsh reality is that you need to put away the credit cards use cash to pay for purchases drastically reduce your living expenses and seriously adjust your spending habits 6 You are getting hit with late fees and juggling your bills If you have trouble paying your bills in a timely manner and constantly incur late fees this is definitely a sign that you re in deep financial trouble When your monthly income is less than your monthly living expenses it s doesn t take a financial genius to know that at some point your cash flow situation is going to implode Living from paycheck to paycheck is no one s idea of fun Plus it never allows you to get ahead Unless you substantially increase your monthly income or greatly decrease your living expenses the chances of getting out of this cycle of debt are slim and none 7 You re depending on a future windfall Everyone likes to think they will win the lottery or hit it big in Las Vegas But the odds are very much against it If your financial decisions are based on the prospect of inheriting some money or property or getting a big bonus at work you

    Original URL path: http://www.paydayadvance.org/Common-Warning-Signs-of-Impending-Financial-Disaster (2016-02-17)
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  • How to Get Out of Debt
    not make this your 1 priority at the start Your long term goal of financial independence will be nearly impossible to achieve without a budget in place Make sure your budget is realistic Determine your overall monthly net income Then calculate your monthly expenses Save every receipt If you budget 200 for entertainment each month and your restaurant and movie tickets add up to 450 you are doomed to fail You must take an honest assessment of your financial picture this means knowing what your income is and what you are actually spending Then you can decide where to make cuts Stop overspending Overspending including impulse shopping can absolutely destroy a budget If this describes you you must be honest and upfront about dealing with this issue Many people shop in order to compensate for other problems going on in their lives Until you get your spending issues under control you cannot realistically expect to get out of debt Include your spouse or partner It s imperative that everyone in your family works together to get out of debt Talk with them about the big financial picture Make sure you are all committed to the same goals and agree on the means you are going to use to achieve them Success only comes when all family members are pulling together and not working against each other Do not take on any new debt For most people this means putting away the credit cards and learning to live on a cash basis If you only pay the minimum amount each month on your credit cards and continue to charge new purchases you will never get out of debt or at the very least it will be decades Also studies suggest that consumers are much more thoughtful about making a purchase when they use cash Choose a reasonable amount of cash that fits within your budget for a week and make your purchases with that When it runs out it runs out This should make you more aware of what you are spending and encourage you to make smarter choices Increase your income Consider a part time job even if it s just temporary Look through your home and find items to sell either online or at a yard sale Any additional money you can take in each month will allow you to pay off your debt that much quicker Reduce your expenses Most people have no idea what they actually spend each month Keeping all of your receipts and going over them each month can be a real eye opening experience That cappuccino you get every morning They probably total about 100 over a month Rent movies instead of going to the theatre Cut back on eating out eating at home is almost always cheaper than going to a restaurant Instead of buying new books visit your local library or look online for used books The savings can be significant Small changes can bring big results Start an emergency fund Unplanned

    Original URL path: http://www.paydayadvance.org/How-to-Get-Out-of-Debt (2016-02-17)
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