Wednesday, May 30, 2007

How To Achieve Financial Freedom Ideas

A passion of mine is researching how to achieve financial freedom ideas. I have looked at many sources of information and attended all sorts of seminars. Then one day I stumbled across an advertisement on the internet for an e-book titled "What I Didn't Learn At School But Wish I Had" by a guy called Jamie McIntyre. The title alone instantly grabbed my attention as I felt I could really relate to it. I don't know about you but I often felt that most of what I had learned at school was of no real value to me in everyday life. Anyway my curiosity was aroused so I downloaded the free e-book and after reading the first few pages, instantly realized how much this could benefit people.

The more I read the more I wished I had learned all this at school myself. I kept imagining how different everyone's lives could be if they'd had this knowledge at a young age. However, as they say you are never too old to learn, so if you are looking for a how to wealth system then this is it.

In his book Jamie covers everything you need to know about financial intelligence and emotional intelligence. Strategies on how to buy property with virtually no money down. 8 steps to start you on the path to becoming a millionaire and many, many more ways to achieve financial freedom ideas. It's easy to understand and filled with strategies to help you sort out exactly where your finances are now and where you would like them to be.

You can also get a free DVD on What I Didn't Learn At School But Wish I Had. On this DVD
Jamie gives you a taste of all the different ways you can create unlimited wealth by attending his 21st Century Academy seminars. I personally have attended 3 of the 21st Century Academy seminars which have opened my eyes up to a wealth of information. They include speakers presenting their strategies on numerous methods of share trading. The many variations on different types of property investment. You can learn from the experts how to develop your own internet business, plus many more ideas on how to manage your finances.

Even though I am well and truly on my way to achieving my goal, which is to create unlimited wealth in all areas of my life, I still found Jamie's information invaluable, and would recommend everyone attend one of his seminars or at least read What I Didn't Learn At School But Wish I Had.

And the best part of all this is that anyone can do this. You don't need to be an expert you just need to get expert advice.

Monday, May 28, 2007

Breaking The Debt Chain

Owe money to the bank, bills getting way too high to handle, borrowed off friends who now want to repaid? Any of this sound familiar? If so, you are wrapped in a debt chain, and this article will give you some pointers as to break the chain and become debt-free. All it takes is a firm commitment to change your habits.

Debt is defined as something, normally monetary, that we owe somebody else. It doesn't always have to mean money, but in this article, we will focus on financial debt.

One of the best ways to reduce financial debt is to consolidate bills. If you have two or three cell phones all on different plans, put them all onto the one plan and take the savings. Pick the best plan for your needs and put everything under it.

Same thing for TV - if you're not using all those extra channels you are paying for - why are you paying for them? Don't take the car out for a drive to the corner store and back, it burns more gas to go 1 mile than it does to go 5 because of the start and stop process in the engine. With gas prices so high now, it pays you money to be more efficient and sensible.

Shop for groceries and buy in bulk, you'll save more money in the long run because you will be able to make your dollar stretch further. When you go out for entertainment, set a realistic budget and then stick to it. You'll end up enjoying yourself more, knowing that what you allocated for spending is getting you some entertainment, and you'll stop worrying about how to pay for this or that and will get some stress-free relaxation - which is what entertainment is there for.

If you find yourself mired in store credit debt, owing thousands to store charge cards, there is always hope. Most stores want to be paid off in full - that's normal, but they will also be willing to compromise if you are honest with them. If you call up the credit controller and tell them you can only afford x amount very month, and then you stick to it- they are quite often willing to drop the interest or any penalty rates because, in the end, if you pay them, that's what they want to have happen - not force you to go into bankruptcy or to default on the cards.

The same thing applies to credit cards - although they want you to pay them back, again - they will work with you if you are in financial hardship and are honest with them. Keep to realistic regular payments and tell them if you see financial problems ahead. It will cost them much more to pursue legal action against you or force bankruptcy on you, and if you pay regularly, and make the minimum, you will be out of debt as long as you don't run the card up again once it's gone down some.

Saturday, May 26, 2007

Ethical Finance: Who Benefits From Our Spending?

On one manus consumers are being universally criticised for running up important amounts of debt on credit cards, yet conversely many companies are capitalising on the growth credit card debt, from charities and political arrangements to football game clubs, the Association of Surgeons and somewhat ironically ActionAid, an international development agency whose purpose is to struggle poorness worldwide.

Financial comparison land site provided 226 credit cards in a general credit card search, from which the consumer could take a merchandise to lawsuit their lifestyle, as well as their wallet. Credit cards with charity branding affect many major arrangements including Amnesty International, Christian Aid, WaterAid, RSPB, Save The Children, the Ramblers Association, Oxfam, Greenpeace, the Vegetarian Society, RSPCA, ActionAid, Children In Crisis, Aid The Aged, Tearfund and the Publius Terentius Afer Higgins Trust.

Perhaps it is just to state that if people are going to pass on plastic, they should be helping charitable arrangements on the manner and should they experience inclined to lend to a political institution, donating a small % of each transaction is a convenient method. If most consumers were ethical spenders, then associations between transactions and 3rd political party donees would come into this quality, but as debt spirals out of control, is it responsible or ethical that person should profit at the cost of person else?

Although it is standard for most card suppliers to offer an introductory free period, the consumer may be hit by a more than significant annual percentage rate (APR) later on the year, with some providers, such as as ASDA charging a monolithic APR of 28.8%. Even ActionAid charges an APR of 17.9%, rescuing the development human race at the disbursal of the developed.

For additional information about credit cards and inside information on specific providers:

Friday, May 25, 2007

Essential Steps to Getting the Best Buy

Shopping for products and services has been one of the daily activities most carried out. If shoppers do not plan their shopping budget carefully, many will find themselves overspending on products that are not necessarily important and needed. Besides failing to plan for shopping budget, many shoppers have fallen victim to the alluring advertisements displayed along the shopping aisles. Here are some practical and essential steps to getting the best buy when shopping. These steps can be practiced immediately and could help you save hundreds and thousands of dollars.

Compare cost with other things that could be bought.
Shoppers should evaluate the cost of buying something and compare it with others things which could be bought with the same amount of money. In the process, shoppers could be able to find something better at the same cost or at a cheaper price.

Put all earning directly into the bank.
In order to get the best buy, you should carefully guard and account for every dollar earned. When paychecks are not deposited immediately into the bank account, but is cashed out for shopping purposes, you will find it difficult to control your spending, thus leading to unwise purchases.

Carry as little cash as necessary.
You will tend to spend more when you carry large amount of cash. Shoppers tend not to think further, especially in times of sales period, whether they should be spending most if not all their cash to buy discounted items that are not even on their shopping list. Thus, in such scenario, the convenience of carrying large sum of cash is not seen as a good practice after all.

Know what you want to buy before shopping.
In order to be a wise shopper, list down all the items you want to buy before you shop. This will save you from becoming the victim of impulse purchases and save you a lot of money too. Such shopping list could be reused again if the items listed are bought on a regular basis. If fact, you could even list down the prices of each item, and compare it with other available brand to see if the selected item is considered a best buy.

Look at the price before you look at the product.
You should always find out the full price before deciding to buy a product. Many shoppers tend to be emotionally attached to a product before they determine whether they can afford it. By looking at the price prior to any purchase, you will avoid purchases that are emotionally driven which you will regret later.

Total your purchases before checking out.
It is always wise to carry a small calculator when shopping. Such small and handy device could help you avoid being overcharged. In addition, by calculating the total amount to pay for the selected items, you can quickly assess whether the amount of money needed to pay is within your shopping budget. You can still return some items to the shelves should the items exceed the budget.

Check products in a consumer guide.
In recent years, consumer guides and publications have been made available to all consumers. Such materials are a great source of help when finding out the features and limitations of a product you intend to buy. By having a thorough understanding on what you are paying for, you will less likely make a poor purchase on overrated products.

Once you start practicing the above steps on a regular basis, you will most likely set a positive and long term shopping habits that will guide you to getting the best buy. The steps above may sound simple, but it is the simple and small things which we do daily that affect us the most. Hence, learn to be a wiser and smarter shopper today.

Wednesday, May 23, 2007

Do Your Homework Before Settling For An Auto Loan

Most of the prospective auto buyers today avail the services of financial organizations when making their purchase of vehicles. Purchase of any object, be it an equipment or a vehicle, requires a lot of investigation on part of the prospective buyers. In fact, before making any purchase, it is necessary to make lots of inquiries about the product and its sale procedures. Today, we find a majority of Americans shopping for an auto loan during and after going to the dealership.

Prior to deciding the kind of auto loan to settle for, prospective buyers should gather all possible information about the kind of loans that would best suit their requirements. You should remember that purchasing a new car or vehicle via loan involves more than a down payment and monthly payments. Licensing, registration and other hidden costs, as well as monthly insurance costs, gas and maintenance should also be included in your budget. Once you figure these out, decide on the amount that you can devote to your car payments.

Once your budget is settled, you can start taking your pick of the vehicle that fits your budget. Not only that, you also need to think about your requirements before you settle for the model of your choice. In case of car purchase, you have to keep in mind the size of your family. In case of any vehicular purchase, extra attention needs to be paid superior handling, gas mileage and certain task-performing capacity.

Next comes the turn of doing a bit of auto research. The Internet offers a host of information on various auto loan schemes, which allows you to compare prices and get multiple quotes before heading the dealership. It is also helpful to check out the newspapers, contact car dealerships, credit unions and local banks to see what kind of deal you can get. Only after a making a through research of the various schemes, you can settle for the best deal.

For a fast auto loan approval, it is best to avail the services of online lenders as some of them even get approval within 24 hours. There are, however, certain things that one should keep in mind before applying for an auto loan. Your credit history determines whether you shall qualify for a loan. Besides, the rate of interest to be paid is also decided by your credit record. In case of poor credit, certain financial organizations offer schemes for customers with poor credit, but who should be able to pay a higher rate of interest. For those purchasing a used car or vehicle, the following points must be remembered:

i) the exact price of the vehicle;

ii) the amount to be financed;

iii) the charge (dollar amount) the credit will cost you;

iv) the annual percentage rate (APR);

v) the number and amount of payments; and

vi) the total sales price (the sum of the monthly payments plus the down payment)

Paying attention to the above-mentioned points is highly important to strike a perfect deal. Ignorance of any of these might well land the customer in financial trouble. So take your pick of the kind of auto loan that would best suit your requirements. Even in case of poor credit score, bad credit auto loans can come to rescue. Always remember, a little homework proves helpful in these kinds of transactions.

Monday, May 21, 2007

Create a Personal Budget in Only a Few Short Steps

One of the biggest resources to use when working on your personal finances is a personal budget. Budgets just aren't an effective and necessary tool for businesses, they are also vital for individuals and families as well. Below, you will find some easy to follow instructions on how to create a personal budget in a few short steps.

First things first, grab a pen, piece of paper, calculator or head to your computer. The first thing you want to do is create a list of items (expenses) that must be paid each month. These items usually include rent, car loans, auto, life and health insurance, food, gas, entertainment, utilities, child care, clothing, etc. For many families, there are plenty of monthly expenses and the interesting thing is that for most families this will be the first time that you see all the money that you spend each month. Once you have all your expenses, add them all up and name this amount Total Monthly Expenses.

Secondly, figure out your entire income for the month. This will obviously include you and your spouse's income, any investments that you may have that you receive payment from, any odd jobs that you do such as selling items on Ebay, etc. Once you have your entire month's income, add it all up and name it Total Monthly Income.

Finally take your total monthly expenses and subtract it from your total monthly income. Hopefully you will come out with extra money. That money is anything extra after you have paid all your expenses for the month. The more money you have, the more you can save, as well as the more money you can spend. However, if you are in the red, meaning you have more expenses per month than income, you are in debt and can be in a lot of financial trouble.

With a budget you can easily realize your financial health. You can plainly see which items you spend the most money on per month and determine if some of them are necessary. If you want to save a specific amount of money, budgets are a way to easily figure out which items are necessary and which items are deemed frivolous.

Obviously every person's budget will be different, but creating a budget is one of the cardinal rules of responsible personal finance.

Saturday, May 19, 2007

Debt Consolidation Program - Ease Tensions of Various Debts

Debt Consolidation Program: An Overview

In the modern lifestyle we follow new trends and fashion. We spend blindly to fulfill whatever we desire and when it exceeds our capacity we don't hesitate to go for loans. Lending business has grown exponentially because of the fact it is providing a lot of lucrative schemes. Most of the times we keep on borrowing loans and due to lack of proper management we fall victims of over and multiple debts. It is one of the reasons leading to the state of financial bankruptcy which in turn pushes us towards mental stress.

Debt consolidation program is a sort of counseling provided either by the financial institutions or some NGOs to prevent the occurrence of this type of circumstances. What a debt consolidation program does is it manages your existing loans very efficiently in case you are overwhelmed by debts. In the majority of cases these programs suggest to for debt consolidation loan since it can be availed at comparably lower rate. In fact the structure of debt consolidation program is such that it can handle these circumstances quite efficiently.

More About Debt Consolidation Program

As mentioned before, poor debt management and overspending are the two factors which compel a borrower towards bankruptcy and this program is excellent in the debt management. Debt consolidation program is offered in two forms secured and unsecured. The loan corresponding to the first is secured against some collateral which in turn is responsible for lower interest rates. For this class of loans the range of interest rate is 9% APR to 12% APR in contrary to 15% APR for unsecured one. Normally customers with poor credit face some hindrance in getting the loan approved, but after being indulged in some augmented documentation they can also avail it.

One of the plus points with debt consolidation program is that it can manage loan amount almost enough to repay your existing debts and concise them into that with a single monthly installment. There can be situations when it's better to adopt bankruptcy rather than paying off loans that are non-repayable. Debt consolidation programs properly guide a borrower through such decision making steps, so as to fetch maximum benefit. The ultimate motto of the debt consolidation program is to rebuild the economic strength of the customer.

Thursday, May 17, 2007

Protect Your Credit

Because identity theft and credit card fraud are among the fastest growth law-breakings in the U.S., there are respective stairway you should take immediately if your credit card goes lost or stolen, or if you happen measures in your mail that you make not acknowledge or charges you did not authorize.

The first measure you should take is to originate a fraud qui vive on all your credit card accounts. There is a common misconception that doing this volition forestall you from obtaining any additional credit cards or financing. This is simply untrue. What a fraud qui vive will make is necessitate creditors to reach you by telephone before any new accounts are opened in your name. It will also necessitate creditors to reach you by telephone before making any requested changes to any existent accounts, such as as increasing your line of credit.

To put a fraud qui vive on your accounts, reach any 1 of the three major credit bureaus:

Equifax: 1-800-525-6285

Experian: 1-888-EXPERIAN

TransUnion: 1-800-680-7289

The credit agency you contact will then contact the remaining two bureaus and all three will direct you a current transcript of your credit report, free of charge. When you have these reports, expression them over carefully. Note any accounts you didn't authorise or debts you don't recognize. Also check that all your personal information, such as as name, address, and Sociable Security number are correct. If any wrong or fraudulant information is found, contact the credit agency to have got it removed. Then go on to check your credit report on a regular footing to see no additional fradulant activity is found.

After initiating a fraud alert, you should then immediately fold any accounts you believe may have got been violated and submit an Idaho theft affidavit to the credit card companies in question. You should then register a police force force report with your local police section and also register a lawsuit with the Federal Soldier Trade Commission.

Identity theft is a federal discourtesy with stiff punishments for those who make bold to attempt it and are caught. Take stairway to protect your credit and forestall yourself from becoming a victim of this very serious crime.

Wednesday, May 16, 2007

Learn to Use Credit Responsibly

Many first time credit users see the low monthly minimum payment and assume they can pretty much shop to their heart's content because they can afford the minimum. This is a very dangerous slope to be going down. Once you start to slide, the harder it is to stop or even slow down--you start to accelerate faster and faster into debt.

The first thing to understand is that the credit companies are in the business of making money. To do this, they need to collect interest and services fees. If you pay your balance off each month, the credit card company doesn't make a dime off of you. This is the situation you want to be in--using their money interest free.

However, most of us have times when we have to carry a balance. When that's the case, here are some tips to use credit to your advantage:

* Apply for a 0% intro credit card that will allow you to transfer your balance. Prepare to pay it off before the introductory period ends.

* Pay off as much as possible and as soon as possible. Never pay just the minimum payment!

* Always make your payments five to seven business days before the due date to insure that you don't get charged late payment fees.

* Put your purchasing on hold when you're carrying a balance. Don't start the slide into ongoing debt by continuing to add to the balance.

* Inspect your monthly statement thoroughly to be sure there are no unauthorized charges or other inaccuracies.

* Avoid spending near your credit limit. You take the chance of going over and being charged astronomical overdraft fees. The down side to being charged overdraft or late fees is that your next required payment will include these fees along with your normal minimum payment and may stretch your budget beyond its limit.

One way to manage your spending is by taking advantage of online banking. You can see your account activity on a daily basis and even arrange to make electronic payments over the Internet. Some people find it helpful to use a computer program to keep track of their spending. There are a wide assortment to choose from including Quicken® and Microsoft Money®.

If you do get into financial difficulties and forget to make a payment, immediately contact the creditor and let them know your payment will be sent immediately. If you act fast enough, they may not report the infraction to the credit agencies.

And last but not least, read the entire credit agreement and especially the boring fine print. This is where you'll find the fees for overdraft and late fees.

Monday, May 14, 2007

GE Antares Provides $118MM Senior Secured Credit Facility for Leading Manufacturer and Marketer of Branded Healthcare and Wellness Products

CHICAGO--(BUSINESS WIRE)--GE Antares Capital and its sister business, GE Healthcare Financial
Services, today announced the closing as administrative agent of a $118
million senior secured credit facility to support the acquisition of The
Hygenic Corporation by Cortec Group Fund IV, L.P., a New York-based
private equity firm. GE Capital Markets served as sole lead arranger and

The financing consisted of a $10 million senior secured revolving credit
facility, and a $108 million senior secured term loan. Proceeds were
used to provide financing for the acquisition of Hygenic, to refinance
existing indebtedness and for working capital needs.

The Akron, Ohio-based Hygenic Corporation is one of the leading
developers, manufacturers, and marketers of branded, consumable products
used for therapy, rehabilitation and professional wellness. Hygenic’s
products, which are manufactured in the U.S. and Malaysia, are marketed
under the brands Thera-Band®, Biofreeze®,
Dyna-Band®, Hygenic®
and Parabath®.

“Hygenic has strong brand recognition, a
unique portfolio of therapy and wellness products, and is led by an
outstanding management team,” said Ethan
Miller, Managing Director of GE Antares. “Cortec
Group is a long-term customer of GE Antares and we are pleased to be
able to lead this financing to support Cortec and Hygenic.”

David Schnadig, Partner at Cortec stated, “GE
Antares has showed us once again that they are flexible and creative
with their financing. Their responsiveness and reliability were
precisely what we needed for the acquisition of Hygenic. We hope to
continue to grow with both Hygenic and GE Antares in the years ahead.”

About Cortec Group

Cortec Group acquires high value-added, middle-market manufacturing,
distribution and service businesses that have leadership positions in
their market niches. Cortec Group manages approximately $750 million of
committed capital to acquire platform companies with enterprise values
of $30 million to $250 million and smaller follow-on acquisitions.
Additional information about Cortec Group can be found on the Internet
at .

About GE Antares Capital

GE Antares Capital is a unit of GE Commercial Finance - Global Sponsor
Finance. With over $8 billion in assets, and offices in Chicago,
London, Los Angeles, New York and San Francisco, GE Antares offers a “one-stop”
source for GE’s lending and other services
offered to middle market private equity sponsors. For more information,
visit the GE Antares website at .

About GE Commercial Finance

GE Commercial Finance, which offers businesses around the globe an array
of financial products and services, has assets of over $233 billion and
is headquartered in Norwalk Connecticut. GE (NYSE: GE) is Imagination at
Work – a diversified technology, media and
financial services company focused on solving some of the world’s
toughest problems. With products and services ranging from aircraft
engines, power generation, water processing and security technology to
medical imaging, business and consumer financing, media content and
advanced materials, GE serves customers in more than 100 countries and
employs more than 300,000 people worldwide. For more information, visit
the company’s website at .

Credit score: One number is key to your finances

It’s not a birthday, or telephone number, or address. Yet it’s a number that may become meaningful in your life, especially if applying for a loan.

It’s your credit score. In this case, safety in numbers — the higher the score, the better the report.

Credit scores are boiled down to a number of factors, including previous bill payments, loans, debt, and credit cards. Basically, the history you probably won’t save in a photo album.

The number is most often used by lenders to determine whether or not to give you credit, at what interest rate, and the likelihood the money will be repaid.

An average score ranges from about 600 to 700, and anything higher is considered exceptional.

Many different types of credit reports are available, but most lenders use FICO scores, developed by Fair Isaac & Co., the company that came up with the process of reducing all credit info into a three-digit number. These are available from three major national credit bureaus — Equifax, Experian, and Trans Union.

At-risk scores emerge when the previous history creates an undesirable candidate for a loan. But it’s not the Magna Carta. Experts know of many tricks that can adjust and boost a credit score.

“The most recent history is the most important,” said Melanie Sagia, a financial representative with American General. This means paying bills on time if possible. Although a higher FICO score can make it easier to get a loan, lenders will also consider the past five months of activity.

“If there hasn’t been delinquent activity over that time period, you can still get a loan,” said DeeDee Hoeft, a mortgage consultant with Wells Fargo Home Mortgage.

It’s also wise not to consolidate credit card debt. “It’s a common mistake to go for a free credit card offer in the mail for zero percent financing, and combine all credit cards into one. It’s wonderful in some cases, but can actually hurt a credit score,” Hoeft said.

The lower the ratio of credit card debt to credit card balance, the better it looks on a credit report. “

You are better off having a small percentage of the balance on three cards, than over 50 percent on one card,” Hoeft said. And it’s best not to do this right around loan time.

If you are going to apply, start planning early. “Changes do take some time to report on the credit scores. Leave at least 30 days if you expect to see a boost on the result,” Sagia said.

This means closing open lines of credit, like an unused department store credit card. “If they are maxed out, cleaning up any over-balance on cards is good. Too many open lines just looks bad,” she added.

It’s also worthy to plan ahead should a credit report reveal a major error.

“We see a lot of foul scores as a result of fraud. Contact the three credit report bureaus. Each of them individually has 30 days to investigate the matter and get it corrected,” Sagia said.

Other errors can range from misspellings to the same loan being listed more than once. The information may also not be timely, such as an account that is already closed, but is still listed as open.

The pay-off is there after improving a credit score.

“In a lot of cases, the higher the credit score, the less documentation you need for a home loan. And you won’t need income verification. Especially on a home equity line of credit, you’ll get a better rate if you have a better FICO score,” Hoeft said.


Under federal law, you’re entitled to a free report once a year. The three credit bureaus have established one central Web site, telephone number and mailing address to use for ordering your free report. If you request the report online, you should be able to view it immediately.

Visit; call 877-322-8228; or mail to: Annual Credit Report Request Service, P.O. Box 105281, Atlanta GA 30348-5281.

By requesting a report from this source you will not be solicited for other offers. The free reports do not list your specific credit score.

Saturday, May 12, 2007

Personal Finance - The Benefits of A Budget

Why is it so many of us hate the idea of living a budget-based life? I suppose it's because living within a budget feels like we are depriving ourselves of some of the good things in life, when actually, a budget can bring the good life even closer.

Whether you are purchasing new clothes, a new piece of furniture, or a new automobile, the power to purchase anything you want, whenever you want, with little thought to paying for it in the future, is getting to be a real problem with debt these days. Financial pundits calculate that almost every American household is bearing between $4,000 and $9,000 worth of credit card debt alone! It seems there are few people who live within their means anymore. Today's spendthrift has no time for a budget that might restrict a purchase. Budgets might appear outmoded, but the fact remains: budgets do have benefits:

A Budget Can Reduce Marital Strife.

Statistics show that money problems can cause divorce. Debt causes more arguments and stress in the household than just about anything else. Discovering how to responsibly use your money together can assist in building a better relationship.

A Budget Can Help You Build For The Future.

Sooner or later, everybody needs a nest egg. Whether it's for a householders emergency; or to settle unexpected medical bills; to put your kids through school; or to use in your retirement, we all need to put a percentage of our income away for the future. A lot of investment experts advocate putting away at least 10% of your net worth into several different accounts.

Budgets Can Make You Feel Good.

There Is nothing quite like the feeling when you start to strike off bills from your expense list each month. Paying off consumer debt; confronting long-running loans; and saving for something special, can all assist in building your self-confidence and your feeling of self worth. Budgeting does not just aid you take charge of your finances; it helps you take charge of your whole life!

To sum up, these are just some of the numerous benefits that making and sticking to a good budget can bring you. Personal debt has become a major problem for many people. Taking control of that debt, and learning to exist inside a reasonable budget can be very rewarding.

‘No Credit Rating Upgrade Without Nuclear Solution’

Korea is unlikely to see its credit rating rise until the North Korean nuclear issue is resolved, a Fitch Ratings analyst said Friday.

``It is difficult for the rating to move in the absence of a long-term solution to the North Korea nuclear issue,'' said James McCormack, the agency's Asian sovereign ratings head, at a press conference held in downtown Seoul.

``It has a stable outlook, which implies we're not likely to change that rating in the next 18 to 24 months. Our expectation is that it will probably stay at A+.''

He said the most critical factor determining Korea's credit rating is the cost of unification, adding that this would be huge, though it would differ depending on the method adopted. When disregarding the security risk and the unification cost, however, there is no problem in Korea that needs to be resolved immediately, according to McCormack.

Fitch raised Korea's rating in October 2005 following an agreement to remove nuclear weapons from the Korean Peninsula. However, North Korea marched out of talks following the United States' financial sanctions, and conducted a nuclear test in October last year. It promised steps toward the nuclear disarmament again on Feb. 13.

He expected Korea's government debt to be around 40 percent of gross domestic product (GDP). Other countries with similar credit ratings as Korea, however, have a debt at around the 30 percent level, McCormack said.

He noted that the increasing external debt needs watching as this increased markedly at banks during the financial crisis. Short-term external borrowing has been surging as foreign banks operating in Seoul have brought in dollars to engage in speculative foreign currency trading. However this wouldn't affect credit ratings, as Korea's foreign exchange reserves are also increasing, McCormack said.

Regarding Korea's signing of a free trade agreement (FTA) with the United States, he said it isn't likely to have an effect for a year or two. In the long term, however, it would give a positive effect as exports will surge as will foreign direct investment.

Friday, May 11, 2007

The Cool Benefits of Cash Back Credit Cards

Does receiving something for nothing look like a good proposition? It would be tough to find hard-pressed task to find someone who doesn't believing getting something for nothing is a bad thing. Free bonus gifts are given by salesmen many times to people who purchased an item and an already seemingly low price. The old Ronco commercials with the "But wait! There's more!" tagline immediately comes to mind. While that tagline may seem like it came from ages ago, the popularity of cash back cards is a testament to this commercial's philosophy a few decades later.

Cash back cards are credit cards that give bonus points when purchases are made with the cards. The concept of cash back cards began with the "bonus miles" feature started by airlines and spread in popularity to other businesses and industries. This led to a growth of purchases by using the common credit card as business partner with the stores that swiped these same cards a thousand times per day. These cash back team up with a specific retailer and award "gift cards" in order for people to make use of their cash back points. For example, if you had a Visa affiliated with Barnes and Noble, every $20.00 purchase at Barnes and Noble may lead to a $5.00 bonus point accrual that can eventually be exchanged for cold, hard merchandise. Redeems the gifts or merchandise makes this offer quite valuable. This is an excellent deal, and it is safe to say these cash back cards are an excellent addition to any wallet.

See below for more information on Cash Back Cards.

Wednesday, May 09, 2007

Consolidate Bills - How You Can Reverse Growing Debt

Unfortunately for many people, accumulating debt is a great deal easier than accumulating wealth. Credit card companies freely offer cards with high limits and even higher interest rates, and it becomes all too easy for you to utilize the card when it comes to making purchases. But if you are not making enough income to pay off these credit card purchases, the high interest rates can quickly turn your credit cards into piling debt. Credit cards can be great for you to have on hand for emergencies which are unseen and necessary, like tax fees and vehicle repairs, which means that it can be a real lifesaver for you to have a credit card on hand when an expense springs up from nowhere.

Unfortunately, if you do not have the income to pay off the credit card debt that you accrued while paying off an unforeseen expense, you may find that the interest rate on your credit card is quickly turning your balance owed into a situation that you simply cannot manage. Sizable debt can be accrued very easily thanks to high interest rates and low minimum payments. And the fact that many people have a tendency to charge up credit cards without considering the fact that their income will not allow them to pay the charges off in time.

Credit card companies are more than aware of the fact that most people will use their credit card or credit line for much more than simply unexpected emergencies and expenses. Nearly everybody will eventually use their credit cards for purchases that they do not really need to make, as there is no real reason to escape the urge to buy things that you do not immediately have to pay for. Unfortunately, credit card companies want you to spend this money, so that their interest rates can make them some serious money at your expense.

This is where it becomes necessary to consolidate bills: if your debt is growing, and your income simply will not allow for you to repair it on your own. Consolidating your various bills into one simple loan is an intelligent choice, as it allows you to pay one monthly payment, rather than jugging several monthly payments for several different credit cards or loans. Because of your mounting credit card debt, it may not seem easy, or even possible for you to obtain a debt consolidation loan - But there are lenders out there who want to help you get back on track and to erase the debt that you have accrued and are drowning in.

Why Consolidate Bills?

If you consolidate all of your bills with a debt consolidation loan, you may have money left every month to save, or to spend on other things.

If you consolidate all of your bills with a debt consolidation loan, you will no longer be required to worry about the debt collection agencies, and the late fees that are associated with mounting credit card debt. The debt consolidation loan will pay off all of your debt, so you only have to pay a single loan, rather than several debt collectors or credit companies.

If you consolidate all of your bills with a debt consolidation loan, you will only have to worry about a single payment every month, instead of trying to keep track of several bills and many different payment amounts. Paying a single loan bill is a great deal easier than half a dozen credit card bills.

How to Consolidate Bills?

As mentioned before, there are lenders out there who want to help you get your life back on track. Weigh your options by speaking to many different lenders, to find out who will and will not finance you based on your current credit score. When you find a lender who will help you consolidate bills, make sure that the interest rate on the loan and the monthly payment are numbers that you can handle, so that you do not end up putting yourself into debt again by being unable to pay the debt consolidation loan off. Debt consolidation loan payments are typically low, and the terms of the loan are typically spread out so that you can pay your debt off over a long period of time without worrying about late fees or mounting interest rates. Luckily, since debt consolidation loan specialists are well versed in dealing with bad credit situations, it should not be too difficult at all to get yourself back on track.

Monday, May 07, 2007

Learning the Disturbing Facts about Credit Card Debt

When Iodine received my first credit card in the mail at age 18 I was ecstatic, I said to myself, wow now I’m getting somewhere in life. This credit card company believes I’m worthy of 500 dollars in credit. So I made my monthly payments like a good consumer and watched my credit bounds grow. I thought male child this company must believe alot of me to take such as a risk. I however had no thought how the money came into existence. All Iodine cared about was that as long as when I slapped the plastic down I was approved. Like most immature people I had no thought what an interest rate even was much less how it effected my monthly payments. I was like a batch of children in America today, my parents were not a large portion of my early grownup life and so I really didn’t have got much counsel when it came to making financial decisions. The lessons I learned were hard and I go on to learn as each twenty-four hours passes.

After all what is credit? When you get that “Pre-Approved” application in the mail, makes that average that the credit card companies have got been watching you personally and are rewarding you for having so called “good credit,” Of course of study not, they are looking to make money just like any business, and they are making a batch of it.

Today there are thousands of people who are losing their homes, farms, and businesses because they do not understand the significance of credit. This article will explicate the difference between money and credit and will demo you how the banks make "credit" and make-believe that it is "money".

There have been a pecuniary argument in our country for some clip now and that argument focuses on two cardinal issues. First that lone gold and Ag are Constitutional money Article I Section 10 clause 1U.S. Fundamental Law and second that the dollar is defined by the Mint Act of 1792, and that a Federal Soldier Modesty Note is not a dollar. There is a 3rd country that is not well understood, but which is very important. It is the most of import issue of all because 97% of our money supply today dwells of bank credit whereas Federal Soldier Modesty Notes and coins dwell of less than 3%.Today every bank loan in the United States can be legally voided because it is based on credit instead of money!

YEAH RIGHT, you say. Well Iodine have got got explored that accusation for over a twelvemonth now and here is what I have found. One must inquire the question, “What is Credit?” after all we throw the word around so freely today, but how many of us truly understand its meaning. Credit is the antonym of money. Money is legal legal tender for the payment of debts as defined by United States Congress in 31 U.S.C.A. Second 392. This subdivision basically depicts all coins and currency issued by the U.S. authorities as legal legal tender for all debts, public and private. Many volition reason that Federal Soldier Modesty Notes are Unconstitutional, but for this article it will be assumed that coins and paper currency both stand for money.

Now let’s presume you are going to do a purchase state for an automobile or a life room suite. You might state that your credit is good or that your promise to pay is sufficient. In other words the marketer trusts that you will pay the money back. At that point you subscribe a loan understanding in which you pledge the auto as collateral for the security agreement. In other words the auto dealer have accepted your credit, your promise to pay, in exchange for the auto.

Ok here is where it begins to get interesting. Now see a bank loan. When you travel to the bank for a loan, based on your promise to pay and your good credit the bank gives you the loan right? The bank have accepted your promise to pay the money back, but inquire yourself this question. What exactly did the bank loan you? Well, the bank will invariably give you a check which is also a "promise to pay" you so many dollars, with interest. What you and the bank have got is a isobilateral contract when you exchange "promises to pay". In other words you have got accepted each others credit, and yet no money have exchanged hands. This is an of import point; no “money” have exchanged hands.

Now what make you make with the check? Probably one of two things: either you sedimentation it in your checking account or you convey it to your car dealer. Either way, when the check gets deposited it travels directly to the banks clerking section and the numbers from the check are entered into your account. Now the bank will state that its sedimentations have got increased, still no “money” have exchanged hands.

These clerking entries are called “demand deposits” significance that the client can walk into the bank at any point in clip and demand the sedimentation from the vault. In accounting terms, the money is placed into the banks liabilities column because this is money that the bank owes the people.

Now what make you believe the bank have for assets? Well it have a small amount of burial vault cash which the Federal Soldier Government necessitates them to maintain on manus and a whole batch of IOU’s for those full loan understandings people mark their name calling to. The bank is gambling that not every client will come up into the bank at the same clip and demand their money in cash and it’s A pretty good gamble. All those promises to pay are on paper so also are all of the bank assets.

All this amounts to is a transfer of numbers or book entries from one checking account to another. The same thing haps when you compose a check. Numbers called "dollars" are transferred from your checking account to individual else’s. When a credit card is used, bank credit or book entries are created and transferred to another person at the same time.

The adjacent inquiry is, if it so easy for a bank to make “credit”, which is used like money, how then is this “credit”, destroyed? The “credit” is destroyed when the rule of the loan is repaid. However, the interest collected by the bank on the "credit" it loaned, is transferred, to another account for statistical distribution to its stockholders.

What haps is that because 97% of the nation’s money supply dwells of credit which is all created by private corps (banks), and because interest is charged on every dollar of “credit” used, debts are constantly created for which no money or credit bes to refund these debts. Hence our money system can be best described as a “debt usury” money system, for every dollar of credit which come ups into existence, a debt is created to the banks and interest (usury) is charged.

Under our present money system, the Federal Soldier authorities will never be able to balance its budget and the national debt will go on to turn exponentially. However, every bank loan made in the United States today is illegal, since all bank loans are based on “credit” instead of “money”! The words “ultra vires” are of import words because they intend that “a contract made by a corporation beyond the range of its corporate powerfulnesses is unlawful.”(see Black's Law Dictionary)

The tribunals have got consistently ruled that banks cannot impart their credit, but can only impart their money and that all loans of credit are “ultra vires.” Since no bank charter gives them permission to impart their “credit”, and United States Congress never gave the banks permission to make money, all such as loans of credit are ultra vires or unlawful. The bank, by loaning credit, have unjustly enriched itself. It pays no interest for the usage of its credit but charges its clients the same amount of interest as if it loaned out its money.

These patterns are a high degree word form of loansharking. It is misrepresentation and fraud. The aggregation of interest on credit is in misdemeanor of all vigorish laws. After all, the bank is collecting interest on money which doesn't exist. There are many programs today such as as a peculiar programme which I represent, Debt Solutions International (DSI.) There are over two trillion dollars worth of illegal bank loans out there waiting to be challenged. A programme such as as DSI’s is a much better option to bankruptcy since you get to maintain your property and nothingness the bank loans at the same time.

Anyone can walk off his property and allow the bank have got it, but to make so is to reward them for their fraudulent acts. It would be much better to litigate the bank on fraud and vigorish charges and inquire that all contracts which you signed on the twenty-four hours you took out the loan be declared “ultra vires”, nothing and void. That includes works of trust, mortgages, short letters and security agreements, but particularly credit cards.

For a long time, nationalists have got got been authorship to their Congressmen asking them to give us an honorable money system without extortionate interest rates and they have ignored us. I am not an expatriate, I still believe in my country, but our current fractional modesty banking system must be eliminated. If we make not make something our children will pay the terms of inheriting our debts. I believe with the powerfulness of the internet, consumer instruction volition go so powerful that the banks and the “powers that be” will ran into their match. People will see that programs such as as those offered by DSI and others are nil to be afraid of and will go mainstream.

Sunday, May 06, 2007

Make Money Fast - A Blueprint For Building Longer Term Wealth

This method of making money fastHere we are going to look at a way anyone with a bit of seed capital can build long term wealth.

You don't need a lot of capital and you don't need to rely on luck and finally, you don't need more than average intelligence – all you need is a willingness to learn and apply your knowledge.

relies on doing the following:

1. Having desire and believe and learning

You need to want to make money and have a burning desire to be successful and accept the responsibility for doing so.

2. You need some seed capital

You need a few thousand dollars to get started.

You are going to put one of the most powerful tools to build wealth quickly and its leverage:

3. Leverage

Leverage simply allows you to trade much more money than you actually have.

For example, you have $3,000 and you can leverage this to $600,000 at a leverage of 200:1.

You can use this cash and you wont have to borrow it - it's given to you in the industry we are going to look at.

4. Risk Control

When leverage is used you must have effective risk control and this means running your profits and cutting your losses quickly.

5. Your method

Your method will involve simply looking at graphs and spotting repetitive chart patterns, that occur all the time.

6. Time

Learning this method of making money fast will take about 3 weeks and then you need just 30 45 minutes a day to make money fast.

So what is the opportunity?

The opportunity is trading global FOREX markets.

Before you say I couldn't do that!

Consider this:

In an experiment legendary trader Richard Dennis, took 14 people who had never traded before and showed them how to trade in just 14 days.

These traders known as "the turtles", went on to become some of the most famous traders of all time and made millions.

You Can Learn a Method To Make Money Fast

Everything about trading can be specifically learned and you can learn to make money fast by trading global FOREX and all the information you need is available free on the internet.

The worlds Most Exciting Way To Get Rich

The FOREX markets move in trends and currencies reflect the underlying health of the economy.

If you look at any chart or graph you will see they move in a sustained direction for long periods of time.

Your aim to make money is to buy strong currencies and sell weak ones.

As one currency rises another must be falling and vice versa creating constant opportunities for profit.

If you have the willingness to learn you can soon be the making profits and building long term wealth.

Friday, May 04, 2007

Credit Card Reward Programs

When you are applying for new credit cards, take a look at the reward programs they offer. Almost every major credit card company like MasterCard or Visa offers some type of reward program. Some offer cash rebates and others offer merchandise. See which one helps you out the most.

Cash rebates offers with credit cards vary depending on the company. Most offer between 1% to 5% cash back on qualifying purchases. That means that during the year if you spend $20,000 on your card you could earn up to a $1000 back. Make sure you read the terms, though, because many have a cap on how much you can actually earn back. The key to really taking advantage of this option is not to carry a balance and give all your rewards back in interest.

Many people I know save the cash back money and use it to take their yearly vacations. If you are not carrying a large balance on your credit cards and losing it on interest, you will actually be taking your vacation on them. And if you have $1000 to travel with, you can have one heck of a vacation

I personally prefer using cards that offer merchandise for your purchases. Usually you will receive one point for every dollar you spend. Then once you accumulate a certain total you can choose some merchandise. Many of them offer an online catalog to shop from. The credit card companies offer the merchandise in tiers. For instance, you might be able to get a $50 dollar gift certificate for 5000 points, but for 100,000 points you have the option of getting a high-tech outdoor BBQ grill.

I use the merchandise points I accumulate for gifts throughout the year. Especially for last minute Christmas gifts. Everyone likes a gift certificate, so there is a quick and easy gift idea.

I know many people who have learned to maximize these rewards to the fullest. For example, you are use to just writing a check to pay for your utilities every month. Instead, just use the credit card to pay them, and just pay it off each month. It is not an added expense; you are just changing whom you write the check to. They also pay things like their homeowners policies on them and if you can, another big point gainer is paying your property taxes on them. You then can add a lot of everyday purchases and get your point totals very high.

So decide which type of reward program is best for you. You may want the cash rebate over the merchandise. Either way, make sure that you actually get to benefit from them. Check all the terms of your credit card, not all purchases you make will qualify for points or the cash rebate options.

Thursday, May 03, 2007

Pair to face charges of credit card theft

Two people charged with breaking into a Penn Township home and stealing two credit cards and using them to make purchases of at least $700, recently waived preliminary hearings on the charges.

Travis Paul Arnold, 21, of the 400 block of Baltimore Street, Hanover, and Nicole Dubs, 19, of the 6600 block of Pine Road, Thomasville, face various counts of access-device fraud, conspiracy to commit theft and receiving stolen property. Dubs is also charged with conspiracy to commit burglary.

Penn Township Police allege the pair, and a juvenile from Thomasville, broke into a home in the 500 block of McAllister Street on Jan. 19 and stole two credit cards. They used the cards to make purchases Jan. 18 and Jan. 19 at convenience stores and a department store, police said

Several days later, the three were identified in store surveillance photos and each admitted their involvement in the burglary, police said.

Tuesday, May 01, 2007

Is Plastic Making You Happier?

If you’re like most people, you probably ain at least one.

And like most people, you’ve maybe never thought what it’s really costing you…

At a recent conference held by the Fabian Society at London’s Imperial college, one of the issues discussed was happiness, and, more than than specifically, why it looks to elude so many of us.

One of the decisions reached was that one of the top causes of sadness in the last 50 old age have got been people’s changeless desire to raise their degree of stuff wealthiness (especially in relation to others who have more).

As one talker noted, ‘We’re like children on a rainy Lord'S Day afternoon, impossible to please. We have got everything and nothing.’

You may disagree, but I can’t believe of a worse modern symbol of this changeless craving than the credit card.

Yes, I know, they might look a windfall when payday isn’t for another hebdomad and a half. Having ‘free’ money can be a antic thing...if you manage to pay it back on clip that is...

If you’re like a great many, though, and only managing to do that minimum monthly repayment, here are 4 things to believe about the adjacent clip you attain for that piece of plastic…

1 It’s very expensive!

2% interest a calendar month may sound like peanuts but that compares to 24% per year. Let’s imagine, like me, you lived in the UK, and had an average balance of £8000 on your card... that would intend you were paying £160 a calendar month interest. On the national average salary, that’s almost a week’s work!

2 It’s not your money

You’re actually paying person else for the privilege of making you poorer! That hard-earned cash should be in your pocket, not some lender’s. How can you stay solvent if you’re continually disbursement money you don’t have?

3 Money Burns a hole in your pocket

If you’re like me, I can wager you’ve met or cognize tons of people who always look to have got got too much calendar month left at the end of the money. Yet, I’ll stake you if they earned double or even soprano their income, they would still happen some manner to squander it. It looks to be in our nature somehow.

We’ve all seen those quiz shows where the contestants win large money. What’s the first inquiry they’re asked? Yep, that’s right, ‘How are you going to pass it?’ Iodine don’t recollection many replying they would wisely put it for their retirement.

4 You pass what you don’t have

Credit cards give you the semblance of being wealthy. Let’s human face it, if you were handing over a 1000 dollars instead of that small piece of plastic, you might just halt and have got a quick rethink.

It used to be the lawsuit that Gold cards (those 1s with the monolithic disbursement limits) were the continue of the wealthy, but the banks weren’t too long in realizing that if they gave these out to everyone, they would simply travel ahead and pass as if they were wealthy. We look to prefer semblance to reality, somehow.

Way back in the sixties, a French philosopher called Jean-Paul Sartre came up with a conception he called the Practico Inert.

Fancy terminology aside, he was trying to explicate in a nutshell how world almost always (and without realizing it) go captives of their ain creations.

He used the illustration of Chinese provincials who needed wood in order to supply combustible and edifice stuffs for themselves. The long-term effect, though, was that the continual loss of trees needed for wood gradually exposed their land to implosion therapy and drought.

Likewise, in our modern world, the credit card do a short-term illusion of freedom and control, but in reality, only makes you poorer and additions your dependence on others.

So adjacent clip you’re tempted to attain for that piece of plastic, halt for a second and have got a think about it’s true worth to you.

Is it really making you any happier, or like so many others, could it be seriously detrimental your wealth?