Posts made in November, 2014

Need Cash Now? 4 Ways To Get Emergency Cash

If you are in need of emergency cash, there are a few ways to get it. Many situations might come up from time to time that require last-minute funds. If you are not prepared with an emergency fund, you will need to think of other options. Your car might break down, a close friend might need a small loan, or you may have another personal situation arise. Whatever the reason, the following four options are readily available for getting quick cash in as little as one day.

Credit Card Cash Advance

If you have a credit card, you always have the option of getting a credit card cash advance. You can use it at any ATM, and select the cash advance option. You will not only pay the fee for using the machine, but interest when your next credit card bill comes. However, this is one of the easiest and quickest way to get emergency cash. You will get the money immediately from the ATM, and simply need to pay it back with interest when you get your credit card bill.

Payday Loan

You can also get a payday loan, which also has interest, but tends to be less than what you pay for the credit card cash advance. A payday loan is a small amount of cash given to you when you are in between paychecks. They will want to see a copy of your last payday stub to verify how much you make and on what days you get paid. You will fill out a simple application and will need to verify your bank account.

You leave a check written out to the payday loan place, though they will only deposit it if you do not return on the designated date to pay back the loan. The benefit is that you get immediate approval and cash right there when you are approved.

Title Loan

A title loan is similar to a payday loan, but instead of using your job as collateral, you are using your car. You will need to fill out an application and hand over the title to your car. They hold onto it and give you a set amount of cash loan based on the value of your car. If you do not return the money within the date they set and you agree to, they can then take over ownership of your car. It is a risky way to get cash, but often a way to get more than what you can get with a payday loan.

Pawn Shop

If you have high-ticket items that you don’t mind doing without for a little while, you can put them on loan at your local pawn shop. This means they hold onto the item, give you cash, and you have a few months to return and pay the money back in order to get your items back. The best items for getting more cash at pawn shops are electronics, musical instruments, high-powered tools, and valuable jewelry items. Gold, diamonds and gemstones typically do well at pawn shops for loans.

To learn more, contact a company like USA Cash Services with any questions or concerns you might have.

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3 Things You Need To Know About Mutual Funds

Investments can be tricky. When it comes to where you invest your hard-earned cash, there is no sure thing. Not only are there no sure things, but there are so many different options available to you. One such option is the mutual fund. A mutual fund is a type of investment that collects money together from various people and puts it into one fund to make collective investments. If you are thinking about investing in a mutual fund, here are three things you need to know before doing so.

1. There are several different classes of mutual fund shares available.

One of the most important things you need to know about mutual funds is that there are different classes of shares available, and each has its own fees and investment requirements. The different classes are as follows:

  • Class A
  • Class B
  • Class C
  • Class I
  • Class R
  • Class N

You want to speak with a reputable broker and ask them to guide you to the best choice for your investment needs. Even if a trusted friend advises you that their Class B mutual fund shares have performed well for them, you may actually benefit more from investing in a Class R mutual fund share instead. For this reason, you should always seek expert advice from a mutual fund broker.

2. Be aware of the 12b-1 fee.

Most class shares of mutual funds require a 12b-1 fee. The 12b-1 fee is an annual fee that is charged to the mutual fund to cover various costs incurred by the broker. The amount of your mutual fund’s 12b-1 fee will be dependent on the class of your fund shares, as well as on the broker. Some mutual fund class shares come with a higher 12b-1 fee than others, but they usually require less of an initial investment to get into the mutual fund.

3. Your mutual fund could have a sales load associated with it.

Much like many mutual funds require a 12b-1 fee, they also usually have a sales load as well. The sales load is simply another fee the investor has to pay. When it comes to mutual funds, there are actually two different types of sales loads: the front end sales load and the back end sales load.

The front end sales load is incurred when you first invest in the mutual fund. If your mutual fund shares require a front end sales load, then it will be taken out of your initial investment. Naturally, this will decrease the amount of your investment, so you will want to take that into consideration when determining how much you will invest.

The back end sales load is a fee that is only charged when you sell your shares of the mutual fund. The back end sales load charge is usually calculated from the amount of your initial investment and not how much the investment is worth upon being sold. This can be good news for mutual funds that have flourished, but it can hurt if you took a major loss on the market before selling.

As you can see, mutual funds can be a little overwhelming when you are first starting out. However, with the help of a great broker, you will find mutual funds are a great avenue of investing your money for the future. Contact a group like Raymond James Financial Service for more information.

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How To Make Sure That Credit Disputes Are Being Processed Correctly

One of the most important methods that is used to repair credit is to contest any untrue claims on a credit card report. If you need to dispute a charge, contact your credit card company and ask them for an investigation. You will then need to follow up to make sure that the credit dispute has been appropriately filed and that the charge is wiped from your report. There are a few different steps in this process.

1. Get Verification that the Dispute Investigation Has Taken Place

Contact the credit reporting company and tell them that you dispute one or more items on your credit score report. The credit reporting agency is legally obligated to start an investigation and give you the results of that investigation within a reasonable period of time, between 15 days and 45 days. You should contact the credit reporting company in both writing and by phone in order to create a paper trail. After the investigation is completed, make sure that you obtain and save a written copy of the investigation.

2. Provide Evidence to the Investigation and Its Results to the Company Reporting to the Credit Company

This could be an individual, a store, or an organization that told the credit reporting company that you owed money that you did not pay. Contact this individual or group in writing and by phone. Provide them with a letter stating the nature of the dispute, a copy of the investigation report, and contact information.

3. Check Your Credit Report Regularly

There are a number of free credit reporting agencies that will provide a report for you. Check every few months to see if the company that originally reported the claim is still reporting it, even after being presented with the results of the investigation. If they are, contact the credit reporting agency and inform them of this discrepancy. The credit reporting company will be able to either update or delete the incorrect item entirely. This will wipe the item from your file and restore your credit rating to an appropriate level. 

By following these steps, it will be possible for a person to make sure that his or her credit report is perfectly accurate. An accurate credit report makes it easier to to obtain loans and complete other activities that require a high level of credit. If you have any difficulties, contact your credit reporting agency for more information.

You can also contact a credit repair company like Nationwide Credit Repairs for help.

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Financial Planning Is Crucial If You’re About To Get Married

If you’re about to get married, you and your future spouse might want to look into meeting with a financial planner. Even if both of you are on the same page about how you want to deal with your financial lives, actually putting that into practice and combining independent habits is often much more difficult than you anticipate. A good financial planner can help the two of you make that transition more smoothly.

Past, Present, and Future Debt

Many stories abound of people finding out their spouses are deep in debt after they get married, or that they found out their spouses had been deep in debt and their credit scores are still recovering. But not a lot of stories exist about spouses dealing with future debt, such as how much mortgage to take on and how to handle medical costs. For example, one spouse might think working out a payment plan with the doctor would be OK, while the other spouse might be so debt-adverse that he or she would prefer to dip into retirement savings and pay off the entire debt immediately.

Financial planners can work with both of you to resolve issues like this before they happen. You and your spouse can work out game plans for dealing with high-bill situations that don’t require decimating your retirement savings. You can look at things like what sorts of mortgages are agreeable to both of you and under what circumstances a smaller down payment — and thus a larger mortgage — might be acceptable.

If you don’t work out issues like this before you get married, you could find yourselves quickly drifting apart over money issues. You and your future spouse don’t have to agree exactly on everything, but you should be headed in the same direction. If one of you wants to pay extra toward a mortgage or other debt to pay it off early, the other should be in agreement, for example.

If you want to avoid throwing money toward high rent payments and want to buy a home, your future spouse has to agree. If he or she doesn’t agree and instead wants to rent and not deal with the maintenance issues that come with home-owning, the resentment from whoever doesn’t get their way may eventually cause serious marital problems.

Your Plans for Life After Retirement

Retirement is another issue the two of you need to plan out early. A financial planner can show you how much you both need to cover most issues that occur after retirement. Are both of you looking for long-term care insurance? Does one of you want to travel after retiring while the other wants to stay home? Are you both fine with that sort of split arrangement, or is one of you insistent the other travel or stay home just like you? These are financial details that you have to look at before you get married.

Don’t worry that the plans you set in motion now are going to have to be ones you love 10 years from now. You and your spouse will be able to modify plans as your tastes and interests change — remember, you can always go back to the financial planner for an update.

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November 2014
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