Is a Virtual Credit Card Useful?

What is a Virtual Credit Card? Online shopping and transactions are becoming exceedingly common due to their convenience and global accessibility, but they do come with a host of issues. One problem is the danger of personal information theft when people give out their credit card information online. Other problems arise when merchant websites refuse debit cards or wire transfers. Then there is the issue of currency where merchant websites only accept a specific currency like US dollars. The use of a virtual credit card can eliminate all these issues and make online transactions easier and safer. Virtual credit cards have … [Read more...]

Does Setting Goals Help You Improve Your Personal Finances?

The question of whether goal setting helps you improve your personal finances is an interesting one. Most people associate goal setting with financial success and this is justified in many senses. But we need to get a better idea of how goal setting and personal finances really relate. Setting Goals Begins with “Seeing Where You’re at” One of the main things that goal setting does in terms of personal finance is allow the user to get a clear assessment of where they are financially. This is the primary part of setting a goal: seeing where things are now and then relating that to where one would like to be after a certain … [Read more...]

Getting To Grips With Your Credit Card

Are you ready to come to grips with your credit card? It is not as hard as it might appear. By taking some simple steps and being both patient and proactive, you can get a handle on your credit card debt. Once you do, you will be able to live a life of financial freedom. Pretty amazing, right? Know What You Owe Many folks have a vague idea as to how much they owe on their various credit cards, but that’s it. In addition, numerous people underestimate what they owe. There are two reasons this usually happens. 1. Not recording what they purchase. You probably think you will not forget what you have purchased. The truth is … [Read more...]

How to Stop Buying Things You Want

You know when you “want” things, rather than “need” them? How do you cut down on the wants? Whether you're trying to get out of debt, pay down credit cards or save for a home, you need to stop buying things you want. Full stop. No "stop buying things you want, unless it's a really good sale" or "but if it's the last one on the shelf it's OK" excuses. Here are some helpful hints on how to stop buying things you want, in order to live a more financially stable life. Why Are You Buying? Identify why you're buying, or why you want to buy, this item. Purchases are often caused by a variety of triggers. … [Read more...]

Seven Useful Personal Finance Tips

Managing personal finances is often challenging, especially since money can be a scary topic for many people. There are many pieces of advice available on how to improve an individual's financial picture, and some of these tips are better than others. Here are the seven most useful tips for personal finance. Put Savings First Many people make the mistake of saving what they have left at the end of the month. For too many though, this number is zero. In order to make progress towards goals, savings needs to come first and should be done automatically. Banks, investment companies, and 401(k) plans all have automatic savings … [Read more...]

Can You Negotiate Every Purchase?

The idea of negotiating on purchases often depends on the location and the type of store. In some countries, haggling is common and even groceries are negotiated. In countries like the United States, where retail stores form chains that stretch across the country, negotiating most purchases is uncommon. In the United States, haggling over the price is uncommon in most retail stores, grocery stores or similar situations. While it is not common, it is possible to negotiate most purchases as long as the shop owner or the store manager is willing to negotiate. As a consumer, it is your right to ask for better prices and try … [Read more...]

Can You Avoid ATM Withdrawal Fees?

By attempting to forecast cash needs in the future, many people can save money on ATM surcharges. Frequent withdrawals from these machines can be avoided with careful planning and adherence to a monthly budget. You pay fees by using the ATM services, so in order to reduce this amount by a significant margin, consider making larger withdrawals on a less frequent basis. There are actually two separate entities that collect these fees: the ATM owner and the network provider. The costs of getting money in this way can be as high as three dollars each time it is used and are earmarked as surcharge fees. Although this does not … [Read more...]

The Difference Between Bad Debt and Good Debt

A common mistake many people make is to think that all debt is bad. That is not true. The richest people in the world did not become that way by avoiding all debt. They made their money by knowing which kinds of debt were good and which were bad. Unless you learn the difference between good debt and bad debt you will be stuck in the rat race, struggling to make ends meet, for the rest of your life. Assets and Liabilities The first step is to learn the difference between an asset and a liability. Once you have learned this, everything else will fall into place. The problem arises when people think that something is an asset … [Read more...]

What is a Credit Report?

Most people don't think about their credit score, history or report until it comes time to make a major purchase, such as a home, car or appliance. If you've ever been turned down due to bad credit, you may have wondered how to check your credit as well as how to improve it. Credit history factors heavily into whether or not you will be accepted for a home, car, business or other loan, and it plays a part in the interest rates a bank, dealership or retail chain will charge. Your credit history is quantified by a number known as your credit score. Higher scores make moving through the financial world easier, while lower scores … [Read more...]

Do Personal Budgets Work?

It does not matter if people have a lot of money, or if they have a little money to work with, everyone can benefit from creating and maintaining a personal, financial budget. People, who have a budget, have found that it is much easier to handle their finances and save money than it was when they did not have a budget. Why should people create personal budgets? It is unfortunate, that many people wait until they are in terrible debt before they think about creating a budget. It is best to create a budget from the very beginning. However, no matter what financial situation people are in, a carefully worked out budget can … [Read more...]