Six Tips to Help You with Private Money Lenders in Los Angeles

If the term “hard money lending” evokes images of shark-like loan sharks that trade cash out of alleys with high-interest rates, it is probably time to rethink. In fact, hard money loans are financed by reputable investors who specialize in helping clients with cash problems with their short-term loan needs.

It is much easier to obtain hard money loans than conventional loans. If your bank says “no,” hard money lender might say “yes.”

So, If you are in California and you are looking for an investment loan with a simple and fast approval process and lower rating benchmarks. A hard money loan may be right for your needs.

However, because your credit score is a less important factor in determining your eligibility, many hard money loans tend to have higher interest rates.

There are affordable private money lenders in California, though; You just have to know where to look. It all comes down to choosing a transparent and reliable hard money lender to work for. Here are some tips to help you.

1. Choose a Hard Money Lender That Has Experience with Similar Cases like Yours

There are some legal requirements issued by private money lenders in Los Angeles, as for any other types of loans. An expert is needed to structure the loan and meet the regulations.

As a result, you should look for a specialized hard-money lender that has adequate experience with clients that are just like you. Also, you should start thinking about how you intend to use the loan.

Private money loans can be used for a variety of purposes, such as:

  • Obtaining financing with a low credit score
  • Short term financing
  • Fix & Flip Loans For Businesses
  • Scroll from the traditional income requirements for prime loans

It is possible that a hard money lender who works primarily with low credit score clients may not have the necessary experience to help a commercial customer who is looking for fix and flips.

On the other hand, a hard-money lender focusing on flipping may not be the ideal option for a borrower trying to avoid the reality of low credit rating.

Once you discover your needs, you can choose a lender that can meet those needs effectively.

2. Look up the Lender’s License Information

Always verify official licenses before working with a lender. This is important, regardless of the type of loan you are applying for, but it’s vital for hard money loans.

 

3. Make Sure the Lender Operates Transparently

Be wary of promises that a lender cannot keep. You want to look for a competitive interest rate and friendly terms, but you need to think realistically. Become familiar with the typical rates offered to borrowers with your credit score and bought accordingly.

I hear and offer by the lender that sounds too good to be true then it probably is.

Before signing a loan, make sure you have an intimate understanding of the terms and have read all the fine print. You should be able to calculate exactly what you owe throughout the life of the loan (assuming a fixed interest rate).

If a hard money lender avoids questions about interest rates, terms, licenses, or anything else, you should probably look for another company to do business with.

4. Choose a Lender That Can Provide What You Need in Terms of Interest Rates, Approval Deadlines, Etc.

Next, you should think about what you would normally do when looking for a loan: the interest rate you will pay, the duration of the loan, the terms that govern it, etc.

If you are selecting a hard money loan specifically to facilitate a quick and easy application process, ask the lender how long it usually takes to complete the approval.

 

5. Be Wary of the Disadvantages

Because they are riskier than conventional loans, hard money loans are generally issued at much higher interest rates.

Typical rates start at around 7 percent and increase from there with an average of 12 percent rates. You must also pay between 1 and 10 percent of the lender’s fees, known as points.

There is a good possibility that the loan will be structured as a very short-term loan of, say, six months to three years, with a monthly payment of only interest and a sizeable global fee when the loan expires.

As with any secured loan, the lender can execute the mortgage on the underlying property if you do not make the payments.

6. Be Sure to Look for Reviews

As the last step, when selecting a hard money lender, you should always check customer reviews online.

Use common sense when evaluating reviews so as not to confuse actual and quality reviews that competitors may have left or bought to inflate ratings.

You may want to request references and follow-up as well.

In Conclusion

Finding the right private money lender in California can be challenging these days. All over the state, numerous new money lending agencies are popping out and gets hard to find the right one when they all promise the best possible conditions.

Make sure that you remember these six tips and for any further details, it’s always advisable to consult a professional finance man to help you with all nitty-gritty details.

Low-Income Issues: How to Save Money When You Earn Little?

Being your own boss, living the life to the fullest, being able to afford more than you could ever imagine, not getting worried about the money you spend – that’s the life most of us are striving for. However, the truth is that it takes time, patience, and effort to get to that point.

Every successful person starts somewhere. Most often, they have nothing at the beginning and grow to have everything.

How to do this? In this article, we are going to share some excellent tips on how you can save money on a budget.

There may be plenty of reasons why you earn a little. Most often, this is a temporary issue. Yet, at this time, it is important to become a pro in budgeting in order not to overspend.

Becoming more thoughtful about what you earn and how much you spend can be a tough task. However, even being on a budget, it is possible to buy the stuff you need or want. You just have to follow these simple money-saving tips:

Keep Track of the Money Flow

The first step to smart budgeting is always to start recording what you earn and what you spend.

First of all, try to record every penny you make. This includes not only your monthly salary but also any bonuses, cash from the lottery you won, money that you’ve been given on a birthday, loans, etc. You have to keep track of everything to get an idea of what your financial limitations are.

Next, you should also note down all expenses, including every coffee, tips you give to a waiter, unexpected spending, and everything else.

Getting used to keeping track of everything can be hard. However, there are plenty of helpful tracking apps that will help you make it a habit!

Cut Down Your Expenses

This is probably the worst part of living on a budget, but you have to cut your spending to start saving more.

The main tip here is not to rush into it and deprive yourself of everything. Instead, evaluate the things you spend money on and think about what you need and what you really don’t. Here are a few ideas of the expenses you can cut down on:

  • Food – you may love that takeaway pizza from a local restaurant or enjoy going out to eat. But is it really something you could not survive without. Start cooking more often, and this will significantly reduce your monthly spending;
  • Entertainment – no, you don’t have to deprive yourself of attending various entertaining events. What you can do is to look for ways to do it cheaper! There is always a movie theater with lower prices or a less fancy cafe. Also, there are plenty of opportunities for finding free or cheap events that won’t hit so hard on your budget;
  • Services – another huge opportunity for money saving are all sorts of services you’ve been using. For example, you could attend a hairdressing salon less often or take a walk to work instead of using transport. If you are a student constantly googling such a line as website to write my essay – well, maybe some expenses cannot be avoided!

There are plenty of other things that you can cut down on. However, be extremely mindful of what expenses you exclude.

Start Planning Ahead

Our next tip is to get on a schedule. Planning is a habit of highly productive and successful people. It can help you in many ways and save some money as well!

Use a calendar to note down all dates and events that require spending money. It should include the following:

  • Payment days;
  • Dates of automated payments such as utility bills, rent, and other expenses;
  • Important events and holidays (including birthdays of family members and friends), etc.

These are just a few examples of events for which you will have to save some cash. There can be many additional items of expenditure, so be sure to note them down. Doing so, you will never get caught by a surprise when your rent payment is due tomorrow, and you have no money left to pay for it.

Start Making More

If cutting down on expenses doesn’t sound too tempting to you, remember that there is always a way to increase your income!

Look for alternative or additional sources of income. This can be pretty much anything from selling some of the things you don’t need to getting a freelance side job.

The Bottom Line: Save Today to Have a Better Life Tomorrow

Probably each of us has been involved in the cycle of living from one paycheck to another, at least at a certain point. The good news is that it’s possible to get out of this vicious circle.

The modern world is full of great opportunities for everyone. So, all you need is to recognize and catch them. Work hard for the sake of your future success!

The bad news is that until you leave this cycle, you really have to ensure you are living within your means. Restricting your expenses at this point, though it can be a challenge, is the only way to stay afloat.

However, don’t get despaired too early! Living on a budget can still be comfortable. The idea is not to deprive yourself of all the fine things in life. It is more about setting the right priorities!

With a bit of patience and wise budgeting, even with a low income, you can afford lots of things! Use the tips given above to become more mindful of your spending and income, and you will have a chance to live your life to the fullest, even on a budget. Keep up the good work to destroy your boundaries. You got this!

 

Different Ways to Earn Passive Income

Earning money without taking much effort is something that we would all want. Imagine a life wherein you are just laying by the beach the whole day, or in the luxuries of your home with your family, yet you are making money. It sounds like a dream, isn’t it?

Having a stable income stream without you being directly involved is possible, and there are numerous ways on how to achieve this. If you are interested in earning money passively so you can have financial independence and the freedom to do the things you want, then you should read on as this article will discuss the different ways on how you can earn passive income.

Real Estate

Real estate investing is one of the most common ways to earn money through passive income. It is divided mainly into two categories, which include commercial real estate and residential real estate. With the proper guidance of trustworthy commercial realty advisors, there are numerous ways on how you can earn passive income through real estate, which include the following:

  • Office Rentals

Owning a property in a business district is definitely beneficial because this would mean that you could rent out your property to businesses that need office space. When these businesses flourish and rent your property longer, then you will earn consistent passive income for quite some time. If you are planning to buy properties for office rentals, then you should definitely consult reliable commercial realty advisors so that you can make savvy financial and investment decisions.

  • Residential Rentals

One thing is for sure, as long as there are people in a particular location, rental properties will not go out of business. The main reason for this is because people need living places for shelter. Once you own a rental property and you have a long-term tenant, then passive income will follow.

  • Commercial Property Rentals

Owning a commercial real estate is definitely essential if you want to earn a stable passive income through real estate, this is because it encompasses different types of businesses such as industrial, retail, tourism, and many more. Not only does it provide passive income through rentals, but the appreciation of its value increases over time depending on the location of the property.

Stocks

Investing in the stock market is probably the most accessible form of passive income in the financial world and also quite simple. When you buy a number of shares of stock of a certain corporation, you will own a small percentage of that company. When the stock price of the company increases in value, the value of your investment increases as well, and you make money through capital gains.

Another way to earn passive income from stocks is through dividends. When a particular company makes profits, directors of that company may decide to use a portion of those profits to give back to their investors; the money you receive will depend on the number of shares of stock that you own.

 

Everything you need to know about PlayStation Network Gift Cards

PlayStation Network gift card is one of the most convenient and attractive purchases on the PlayStation store. It should come as no wonder that precisely these cards constantly make their way in the top positions of most popular purchases, whether it’s on the official store or various other websites all throughout the net. Today’s article aims to provide all the necessary information that you would need before making the final purchase.

We’ll cover everything from their use, accessibility, and availability, to their kinds, prices, and a hefty ton of other need-to-know features. The prepaid PlayStation Network gift card can be used for multiple occasions, it has no expiry date, and the funds inside are safely locked until you yourself decide otherwise. So, once you have the prepaid card in your possession, launch your PSN account, click on the Store, scroll to the very bottom of it, and search for Redeem Codes button. Enter the prepaid card’s code, voucher code, or card number (depending on your purchase type) and enjoy the newly gained possibilities.

Use as a thoughtful gift

There’s no denying it, one of the most popular PlayStation Network gift cards uses is the boost for one’s own account’s funds. However, the PSN card also works wonders as a thoughtful and well-meaning present. If there’s someone close to you, who just so happens to own a PlayStation console with an active PSN account, it might be a good idea to reconsider your gift-list for the upcoming occasion. There’s probably not a single gamer in the world that wouldn’t express joy from receiving a loaded gift card as a present – it’s simply a fact.

Use to access multiple PSN™ services

PlayStation Network is a vast platform, with multiple convenient services you should definitely be aware of. While PlayStation console is dedicated to gamers, it offers a loadout of other uses too. And PlayStation Network gift card can serve as the key to unlocking the doorway separating you, and the realm of possibility. Gain access to thousands of games, movies, add-ons, various streaming platforms, and such trademark services as PlayStation VR, PlayStation Plus, PlayStation Now and plenty more – all with the help of funds on the prepaid card.

Cards by country, currency, and price

PlayStation Network is a global platform; however, it has certain restrictions which shouldn’t be taken lightly. PlayStation Network gift cards are categorized by country, currency, and price. You should consider each of these factors if you choose to purchase a gift card on one out of many digital key distribution marketplaces. For example: if your PSN account was created on the US server you should only buy gift cards for the United States, as any other region-specific key will not work. In some cases, your region might not have a designated gift card. To solve this nuance, prior to purchase, you should check on whether your PSN account is in a region that supports one of the available gift card options.

Use a gift card – save twice

Buying a PlayStation Network gift card, more often than not, is a bargain on its own. While gift card prices on the PSN Store are in most cases already predetermined, they are constantly shifting elsewhere. Thus, by carefully following the gaming market‘s tendencies, you can save a pretty penny even before making a game purchase on the PSN Store. A 50 USD gift card can drop to as little as 45 USD or in some cases even lower, and if you are able to catch such a price drop, you can greatly capitalize on it. Some would say it‘s quite a bang for your buck, others would simply call it the right kind of knowledge. It‘s also worth noting that various price comparison websites can do wonders if you‘re hunting for these worthy deals.

PlayStation Network gift card variety

Choosing a gift card based on your wallet‘s funds is not only possible, but it‘s very convenient too. PSN gift cards range from 5 to 100 USD, with 10, 15, 20, 25, 30, 50, and 75 USD values in-between, so you can easily pick the purchase that would best suit your needs and goals. It‘s also worth noting the ongoing tendency on various marketplaces; the pricier gift cards often tend to cost even less than their lower-priced counterparts. So, if you have the budget for it, with most of your PlayStation Network gift card purchases, you‘ll get more for less if you choose to buy the bigger package.

Use an alternative way to redeem your code

Redeeming the sum locked within your purchase isn‘t tricky, however, there‘s more than one way to do it! An alternative way to receiving your card‘s funds can be found once you visit your in-store Cart. Select a couple of neat items from the PSN Store, add them to your Cart, and click on the selection that offers you to ‘Proceed to Checkout‘. Once you click on this button, a payment selection menu should pop up, along with other options, you should notice a ‘Redeem Codes and Gift Cards‘ feature. Click on it and enter the prepaid card’s code, voucher code, or card number (depending on your purchase type). Voilà!

 

 

What is RESP, and How Does it Work

You want your child to receive the best education, so you do everything in your capacity to make this happen. But higher education is getting costlier, and sometimes it gets tough to save the amount.

RESP can help you with this. It offers you the power to invest and have returns along with a tax-advantaged account utilized for your child’s benefits.

What is RESP?

RESP or Registered Education Savings Plan helps you in saving for post-secondary education of your child. While you add money to this account, it grows over some time. By the time your child starts his university education, he can take money from it to support his education.

Saving in RESP can begin as soon as your child takes birth. All you need to do as parents is to get the Social Insurance Number for your child. It is required for registrations of RESP to the SIN. Knowledge First Financial Reviews believe that you should get it as soon as possible.

One of the best features of RESP is that several people can contribute to RESP. All friends and family are allowed under law to provide to the welfare of the child’s future. For the purpose, you can ask them to make a contribution to the account rather than buying any gadgets or toys for holidays and birthdays.

RESPs have a similarity to TFSA and RRSP. They are similar as both include several investment products to a government plan to encourage more saving and also shelter tax. It should be noted that there is no tax deduction for the contribution made to RESP just like you do with RRSP contribution. In this regard, RESP resembles TFSA more. One does not receive a tax deduction in any form. However, no tax is withheld when one withdraws money from it.

How Does An RESP Work?

RESP is a contract between a person (known as a subscriber) and an organization or a person (the promoter).

When under the contract, the subscriber will name one or more beneficiaries (child/children who will receive education in the future) and promises to pay for them. The promoter is responsible for paying educational assistance payments (EAPs) to the beneficiary/beneficiaries.

Two types of RESP are available: Specified plans and family plans

Understanding the Terms

Subscriber (or an individual acting for the subscriber)

Typically, he is the one who contributes to the RESP. A subscriber cannot deduct the contribution from his income for income tax or any benefit return.

Promoter

He pays all the contributions, including the income made on those contributions. It goes to the beneficiaries. The money so earned is paid and is called educational assistance payments (EAPs).

If by any chance, no contribution is made to the beneficiary, the promoter will pay them to the subscriber towards the end of the contract. These subscribers are not allowed to include any contributions to their overall income when they receive it back.

Beneficiary

They receive all the contributions. It includes EAPs from the promoter as well. They are required to add the EAPs to their income for the financial year they receive it. But they don’t have to add contributions to their income.

Registration

The Canada Revenue Agency will register the education contract as an RESP. Some lifetime limit is set by the Income Tax Act on the amount to be contributed to the higher education of each beneficiary.

If the RESP is a specified plan, then it is determined that no contribution would be made to the plan (savings) at any given point of time after time expires. It is generally the 31st year of opening of the plan. Moreover, the plan must complete at the end of the 35th year of opening of the savings plan.

How Does An RESP Work?

A subscriber signs an RESP contract along with the promoter. He names a beneficiary or sometimes more than one.

Subscriber contributes towards the RESP; if applicable, government grants are paid for the RESP. These grants include Canada Learning Bond (CLB), Canada Education Savings Grant (CESG), and other recognized provincial education savings program.

The promoter looks after every contribution made towards the RESP. Till this income is in the RESP, there is no tax levied on it. He is someone who ensures that all the payments are made under the terms laid down initially.

· The promoter can even return contributions made by the subscriber tax-free

· The promoter will make payment to the beneficiary to finance his higher education.

· The promoter can even make payments on his accumulated income.

To read more on topics like this, check out the money category

Get Your Hands On An Easy To Digest Car And Personal Loan Guide

Most people will find that purchasing a car can make a huge dent on their savings. This is because most people usually prefer the cash payment method due to it being the cheapest option to pay for the vehicle. And yet, it is also the form of payment that not everyone can conveniently afford. This is one of the reasons why most car purchases are done in installments which are offered by car dealers and by banks. You can check out Newcastle Permanent car loans to get an idea and sample computation of your dream wheels.

When you acquire financing assistance through car loans, it greatly offers you the convenience of funding your purchase through an easy application process. Not to mention, payments will be easier to manage since you’re doing it on a monthly basis. All you need to do is make sure you add it in when you’re computing for your monthly budget and expenses.

But before you buy the vehicle, here is a quick guide on getting a car loan:

Check all the requirements

Doing your research should be your priority. You’ll have to take note of the requirements and make sure you are eligible for a car loan. Preparing everything else beforehand will give you a seamless and hassle-free application. Documents you might need for a loan may include a certificate of employment or a statement of account for proof that you can pay off the incremental payments and official IDs.

Differentiate each car loan and compute

This will naturally help you sort out what kind of car loan is most suited to your savings budget. You should do a comparison of different types available based on each of their competitive rates, loan terms, if the interest and repayments are fixed, the security, the benefits that come with it and if there are any penalty fees for late repayments.

Determine the crucial factors that will affect your car loan

Here are some of the important details that should be taken into consideration so you can realistically afford the loan:

– The type of vehicle and its price range should be well suited and well within your estimated budget. Aside from these, you should also consider the costs of owning a vehicle such as the fuel and its maintenance fee as well as the car insurance. These may not be included in the loan payment, but these are unavoidable costs that should be comprised within your budget.

– Length of the loan: If you choose a loan that has a longer period, normally, you will have monthly repayments that are significantly lower. However, a longer payment method also indicates a higher interest rate. But if you choose a fixed interest rate and monthly repayment method can greatly help in managing your finances with less difficulty.

 

Purchasing a car and getting the perfect car loan takes time – from the thorough research, extensive planning, computation and months of saving up. So once everything is done correctly, you will likely own a new set of wheels and get on the road soon!

Join the discussion on this topic with Trash Talk HC by visiting our contact page.

Value-Added Resellers Need To Pivot With The Cloud

Technology resellers purchase software and hardware and sell it to customers and businesses. Value-Added Resellers take technology, add something to it, like applications or a suite of programs, and then re-sell it. With the rise of cloud computing technology, SaaS (software-as-a-service), and other virtual support systems, there is less value-added hardware around to be resold. There has been a dramatic shift to the cloud over the past several years due to its lower maintenance costs, flexibility, and efficiency for businesses and consumers, alike. Many resellers are pivoting toward services and consultancy and away from hardware.

Though the average consumer can still buy a laptop with applications added to it from the store, data centers are quickly becoming extinct due to the shift to virtual cloud servers, as they require no physical infrastructure on-site. Technology resellers had an important place in the IT industry providing and upgrading these data centers, supplying labour assets and on-going maintenance servicing. Data centers are still found all over the world and need to be maintained. Those working in the data centre space should learn about IOR services to ease importing hassles and meet customs compliance every time. With increasing frequency, businesses outsource their server and storage needs to a third-party cloud service provider. There are many reasons to switch to the cloud and move away from the hassles of hardware.

It’s more cost-effective to adopt cloud computing: there is no hardware to buy and maintain, and there is no need to hire employees to maintain it, either. Cloud services are scalable depending on the needs of the business that month, week, or day. Customer service and assistance is included in the service package if something goes wrong. The cloud provides flexibility for employees to work from home, in-transit, or from a remote location, even internationally. The cloud also provides every day conveniences like social media and streaming entertainment. It is widely considered to be more secure, despite hacking and data breach concerns. There are privacy laws and other regulations in place that cloud service providers and users need to abide by. A more antiquated system based on hardware and physical storage drives leaves businesses and individuals open to identity theft through non-digital, analogue means.

Technology resellers still have a place, as we’re far from abandoning hardware, altogether. But some shifting needs to occur to rebalance the ratio of offerings and use. As consumers and businesses switch to cloud services, so too should those in the reselling industry in equal, anticipatory amounts. Small businesses and corporations will no longer need to hire a company to install and maintain hardware; however, a technology consultant is now useful. A consultant can help businesses navigate the world of the cloud by finding the best SaaS applications to suit their needs and demands. Having an expert advise on service offerings, agreements, and contracts, and make sure cloud providers aren’t taking advantage of customers, or not delivering on what they promised, is valuable. A Value-Added Reseller would come in, install servers or other hardware, and leave. Whereas an ongoing consultant gets to know the company well, has an ongoing relationship to ensure continued efficiency, and ensures that changing needs are being met according to new offerings and innovations.

A Guide To Making Quick, Easy Cash

When times are tough and you need some extra cash in a hurry, getting yourself into debt is never a good idea. And while there are plenty of scams out there, there are a few creative ways that you can make a little extra money when you need it most, or just have a little extra money to put away towards savings each month. Let’s take a look at the some of the clever ways people are thinking outside the box when they need a little extra dosh!

  1. Sell off all your unused stuff

If something you paid good money for is lying around gathering dust, get rid of it! Exercise equipment, kitchen appliances you never use, outdated gold jewelry and even clothing are just some of the things that people will willingly purchase second-hand, putting cash in your pocket and de-cluttering your life all in one fell swoop! If you’ve got a lot of stuff that needs to go, consider hosting a car boot or garage sale.

Even if you do need an item, consider downsizing – laptops and PCs are a great example. If you only use your PC for watching Netflix and replying to emails, then you don’t need the latest model with an amazing graphics card – but someone else might. It’s easy enough to buy a smaller model, sell your fancy equipment, and still come out with a nice profit.

Nothing to sell? Offer to help friends and family get rid of their unused stuff in return for a small commission.

  1. Turn hobbies into cash

If you’ve got a skill for carpentry, sewing or landscaping, put it to use! It’s easy enough to set up your own free website, or even just a Facebook page, and get your name out there in your community. Post to free classifieds websites and community pages – it won’t cost you anything, and if you’re lucky enough to get a few bites and start building a good reputation, then world of mouth advertising will often do the rest.

It could be baby-, pet- or house-sitting, helping out in the garden, or even doing the weekly shop for an elderly couple – so use your imagination.

  1. Do some freelance work online

If you have a talent for writing, graphic design, or even just transcribing interviews, then there are lots of opportunities to earn some money online. You might have to try a few options before you find the one that fits, but it certainly can’t hurt to have a good look!

If you’ve got the time and dedication, you could even start your own blog where you sell products through an affiliate marketing channel, or advertising space if you build a big enough following.

  1. Enter competitions

Whether it’s for a cash prize or a product giveaway, everyone loves free stuff! Try to focus on competitions that don’t cost anything to enter, so you have nothing to lose. Some payouts are just a bit too huge to pass by, so feel free to play mega millions online from time to time as long as you’re not putting yourself in financial jeopardy!

Many companies do product giveaways when they launch a new line, and often entering is as easy as leaving a comment on their Facebook page, so keep your eyes open! If you win, it’s easy enough to sell off the brand new, unopened prize at a discount for a quick sale.

  1. Let your money make money

If your bank balance isn’t earning interest for you, you’re saying no thank you to free income. Do some research and look for better options – there are plenty of accounts that offer a better interest rate but still let you have quick access to your funds when you need it. It might involve changing your bank or going into a branch to open a new account, but knowing that your money is making money just sitting there is a great feelin!

There are lots of options you can consider depending on your needs – from a 7 day or 32 day notice account, to short or long-term fixed deposits which offer much more attractive interest rates than leaving your funds in your check account.  Ideally, you want to have your money somewhere where it’s making inflation-beating returns, but these often require a substantial lump sum. Using these smaller savings vehicles lets you save up for that lump sum, and then your money can really start growing without you having to lift a finger!

 

Interest Rates Are Increasing, Don’t Let Your Debt

Anyone with poor credit knows the burden of high interest rates. Just a few percentage points difference in a credit card or loan rate can make the difference between an affordable payment, and one that breaks the bank. With interest rates on the rise, every person who owes money to a creditor is focusing on the economy and how better to manage their personal obligations. Keeping debt in check during an interest-rate spike can have long-term benefits.

As interest rates creep high in 2018, large debt loads will become more costly for every consumer — even those with ideal credit ratings. Planning for rate increases and finding ways to consolidate and manage debt can save money and help maintain personal assets and value. At Chande.ca, our financial professionals monitor interest rates and are poised to help every consumer prepare for increases that may affect everything from monthly payments to debt-to-income ratios.

Managing Debt as a Best Personal Practice

Whether interest rates are high or low, keeping debt in check is a good personal habit. Using debt wisely can lead to greater financial freedom and rewards, but it takes effort and planning. During an interest rate spike, consumers have no control over the increases, but they can regulate their own spending and personal habits.

Taking small steps to manage personal debt during an interest rate hike can mitigate overall total debt. Some key moves that proactive consumers can pursue include:

  • Transferring Balances: when interest rates go up, it is a good time to take advantage of no-interest credit cards that offer zero interest for balance transfers. If rates increase during the period of the offer, borrowers will still save money, while maintaining a lower debt ceiling.

 

  • Improving Credit Scores: as interest rates creep up, consumers with low credit scores should put off purchases like a new or used auto until they can increase their credit rating. Waiting to make purchases during a rate hike can save money with a lower overall rate.

 

  • Consolidating Debt: before rates go too high, consumers with many small credit accounts may be able to save money and keep debt payments more manageable by consolidating their debt load. One payment with a moderate rate, as opposed to several payments at higher rates can be advantageous in anescalating market.

In addition, during rate increases, smart consumers can adjust their spending practices. Making more cash purchases and relying less on credit cards, loans, and other interest bearing accounts will keep debt at a minimum through a rate increase.

Finding Creative Debt Solutions

When saving money is a priority along with avoiding increased personal debt with high interest rates, consumers turn to professionals who know the markets and know how to find creative solutions. They visit Chande.ca for a variety of debt related answers and advice.

With professional debt services, personalized evaluations, and answers for every type of debt crisis and question, our experts will help every debt or face rising interest rates with confidence and savings.

What You Need To Know About Huge Silver Price Predictions

When it comes to your portfolio, it pays to be careful. You can’t risk your savings on a “hunch” or on unfounded advice. At the same time, there’s no shortage of prominent advocates for gold and silver with some huge claims about the future price of silver. There are some who believe that silver could skyrocket to $130 an ounce in only a couple of years, others who believe more modestly that silver will hit $50 an ounce by the end of 2018, and there are extremely bullish investors like Robert Kiyosaki who say silver could reach $6,000 an ounce in the long run.

There is no crystal ball for predicting silver prices, but there is history and silver price charts. There are strong arguments behind a bullish stance on silver. How high it can take silver prices is anyone’s guess, but the fundamentals of silver price growth are present. Whether it’s $50 an ounce or $6,000, when you get silver prices today you see that there’s huge potential in silver. When someone predicts silver prices of $130 an ounce in the near future, here’s what’s driving their predictions.

Silver Prices Are Undervalued

Silver is not worth as much as it should be. There are many different indicators that this is the case, from the silver-gold ratio to the silver-S&P ratio. There’s also the alarming new fact that silver has recently become rarer above ground than gold. While there is still probably more silver unmined, silver is being used by industry faster than it can be mined. The rarity of silver has quickly made silver coins and silver bars popular sellers from bullion dealers like Silver Gold Bull.

Silver Prices in the Gold-Silver Ratio

One of the biggest indicators that silver is undervalued is the gold-silver ratio. At present silver prices, the ratio is around 75 to 90. Historically, this stood around 15, meaning gold was worth 15 times what silver was worth. As far back as the Roman Empire, the ratio seems to have been around 10 to 1 (comparing silver denarii with the gold aureus), while 15 was fixed into law in the U.S. and France around the 19th century. In modern history, the ratio has been more like 65, which means even by modern standards silver is undervalued. Investors who believe a correction is imminent see silver prices rising to meet gold, rather than gold falling.

Supply Impact on Silver Prices

Many believe that silver prices are in for a big correction due to the basics of supply and demand. Mining companies have by and large fallen behind on silver production to the point where demand for silver outstrips supply. Despite silver recycling, stocks are shrinking because of it. Silver prices have yet to catch up to rising silver demand, which means mining companies aren’t searching for silver or investing in silver mines. When silver prices take off, it could take years for mining companies to catch up.

Buying silver bullion online from a bullion dealer like Silver Gold Bull is the most convenient way to buy silver right now. When you’re holding real silver bullion, you can sleep soundly knowing your money is safe. Invest in silver today and take advantage of rising silver prices, wherever they go. Just remember, making money from silver isn’t about where you sell, it’s about where you buy – and silver prices today are highly undervalued.