There’s no such thing as a free lunch and we all want the very best for our children in terms of education. By its very essence the American Dream sees education as the road to fulfillment for any individual who wants to build a good solid future and achieve complete happiness.

But these days education comes at a big price and there’s no getting away from the fact, ‘debt’ is part of this. OK you could also argue it could be looked upon as a character building process for the student, and maybe it is. But always remember the debt has to be paid back in time.

Unless you’re very fortunate many people can’t meet all the fees up front and so they need to get some form of student loan. This in itself can be a bit of a minefield as there are quite a few available. You’ll need the loan most applicable to your own situation. By the end of this article we hope to have enlightened you further and maybe even helped you choose which is best for the student in your home!

Federal Student Loans

These loans are backed as the name suggests by the Federal Government and include many benefits like fixed interest rates and income-based repayment plans. This should really be your very first option and you don’t need to get a credit check for most of these loans except for PLUS loans.

The U.S. Department of Education will give Direct PLUS Loans to eligible borrowers through schools participating in the Direct Loan Program.

These excellent Federal loans can also help you establish a good credit record in time. In most cases You won’t even need a co-signer and the great thing is you won’t have to start repaying your federal student loans until you graduate, leave school, or change your enrollment status to less than half-time.

It means you can get through school without too many worries and concentrate fully on your studies.There are a number of repayment plans, including an option to tie your monthly payment to your eventual income. In order to get a student loan you must first complete the Free Application for Federal Student Aid (FAFSASM). Again there’s plenty of information available online, and you can even get professional help filling them in.

A Word on Student Loans without Co-signer

The good news is because federal student loans are not based on any form of credit, they will never need you to provide a co-signer, or submit to a credit check. So you can apply for this type of aid without a credit history, a job, references, or personal income of any kind and still qualify without any problems.

Student Loan Consolidation

A Direct Consolidation Loan enables the student to combine a number of these loans into one solitary loan. This means a single monthly payment is required instead of multiple payments. Hopefully a single loan for students will suffice? But take the very best advice first!

BUT BEFORE YOU CONSOLIDATE STUDENT LOANS THINK THE PROCESS THROUGH VERY CAREFULLY!

Take time to view this:
studentaid.ed.gov/redirects/students-gov

Loans made through what we call the Federal Perkins Loan Program, often called Perkins Loans, are low-interest (5 per cent) federal student loans for undergraduate and graduate students who are in the greatest and exceptional financial need. The idea is to give those students even from the poorest families the chance to enhance their education!

Private Student Loans

These are just like taking out a personal loan from your local bank for anything else in life and some people take out a private loan on top of the government backed scheme. The only thing is these can have variable interest rates, some even greater than 18%.

And this is where some families get themselves into trouble. A variable rate may substantially increase the total amount you repay, so you must shop around for the lowest rate. Even talk to your own bank who may be able to help more. This can save you an awful lot of money in the long term. You’ll probably need an established credit history.

The cost of this loan will depend on your credit score and other factors. You’ll also need to start re-paying when you’re still at school or college too so you’ll need to be fully prepared for this! And it’s important to point out they cannot be consolidated into a Direct Consolidation Loan, and you’ll need a cos-signer.

ITS VERY IMPORTANT TAKE A LOOK AT THIS:

(Click article for full size)

The National Student Loan Database

The National Student Loan Database is in fact a massive and impressive set of records kept by the Department of Education containing the details of virtually every federal student loan disbursed by the government. This is also to protect identity and safeguard students and their families.

So you can have the best possible peace of mind. Every time a student takes out a loan backed by the Government the details of loan and the borrower payments on it are sent to the Department of Education National Student Loan Database.

The whole idea behind this national student loan data system is students don’t have to contact their school financial aid office or loan provider as they can get all the information they need directly from the NSLD. They can deal with any problems both quickly and efficiently and of course they are vastly experienced and understanding.

Student Loan Calculator

This is a well thought out tool for calculating the monthly payments taking into account both the interest rate and the principal loan amount for private and federal loans. These clever calculators should also be used when comparing the various private loan programs to decide on which one is best for you and there are a whole host of them on the internet.

By plugging in values like the amount of loan required, repayment time, annual interest rate, and payments per year (usually 12), you can arrive at a ball park figure close to what will be your minimum monthly payment. Planning ahead can be all important and you can be clear in your mind you won’t get into trouble in the future.

CHECK THIS OUT:

(Click article for full size)

The future of the student always has to be paramount here. The problem is families or individuals can still get into a lot of trouble because they’ve either taken out the wrong loan or got in above their heads in some way. Loans backed by the Government should always be looked at first before going down any other road.

After all, this is what they were devised for and you should take full advantage of them. Private loans should be taken out with caution, and there are other alternatives available, so whatever you do don’t go rushing into things. Plan everything way down the line.

Take the very best advice!

On the face of things it always sounds very simple doesn’t it? You take out a loan and make a single monthly payment. The money you then borrow pays off all those niggling debts in one go, but of course you still have to find the money to pay off the loan? But the reality can be so different and can actually get you into more trouble than you started off with if you go about this process the wrong way!

This article will look at the various aspects of debt consolidation in the hope we can give you the correct advice so you can make a fresh start! We’ve already explained very simply what a debt consolidation loan is but they can come in many different forms of course!

CHECK THIS OUT:

Debt.org: (Click article for full size)

Debt Consolidation Loans

These are designed to reduce the pressure you could be feeling from creditors. And let’s be honest if you weren’t you wouldn’t be human. But what you should remember is they often spread the debt over a much longer period of time, meaning you may be in debt for many years.

If your existing debts have high interest rates, you could get a loan with a lower rate but you’d need to be in the right place at the right time. If you have high levels of debt, banks may only offer you a loan with a higher rate of interest. In fact, this will generally be the case.

They can actually avoid damaging your credit rating further but you should think long and hard before approaching loan companies. And remember if you have a poor credit rating you may not be able to get such a loan in any case. Get it right and they can be a great solution to your problems. To consolidate debt – you must be focused and disciplined!

TRY TO RESIST THE TEMPTATION OF GETTING A SECURED LOAN ON YOUR PROPERTY – YOU COULD LOSE IT IF YOU DON’T KEEP UP THE PAYMENTS!

A Debt Consolidation Calculator

 

There are many of these calculators available online and they can help you work out exactly how much money you’d need to borrow if you’re considering taking out a loan. In fact it’s best to use them as a tool once you sit down and go through your budget, income and outgoings.

You’ll need to do this to get a complete picture of your overall situation as you must be fully aware of what you need to do long term. Don’t just snatch a figure out of the air; be disciplined in your approach! The calculator will help you list all your creditors and their payment.

Take a look at this: https://www.wellsfargo.com/personal_credit/rate_payments/debt_cons

Credit Card Debt Consolidation

If the only debt you have is on credit cards then there is a way you could make things a little easier for yourself, though this depends on exactly how much money you owe. You could possibly get an interest free card and transfer the balances onto this card.

But of course only do this if you’re in a position to make the monthly payments as they will almost certainly be much higher. It’s obvious you have to resist the temptation to make further purchases. This is certainly a great way to consolidate credit card debt!

THERE IS AN ALTERNATIVE HOWEVER TO STOP YOU FALLING INTO THE LOAN SPIRAL – IF YOUR CREDITORS ARE BECOMING OVERWHELMING THEN HELP COULD BE AT HAND SO DON’T DESPAIR!

Debt Consolidation Companies!

 

There are a great many companies throughout the United States – they will negotiate with your creditors and could possibly get them to freeze interest rates and give you much more time to pay back what you owe. You pay them a monthly fee in most cases on top of an agreed amount you’ll pay the creditors. But be aware – some fees can offset money you think you are paying creditors. Sadly it’s a fact you are actually making good money for them!

Some fees are higher than others and you need to be able to pay back money at a minimum level each month! This will all depend upon income, outgoings and how much cash you may have left each month. Some will enable you to pay a certain amount back and then offer you a debt consolidation loan for the rest at a reasonable amount of interest.

The truth is these companies are making profit from your situation and if you’re happy with that then many can be of great help to you. But do plenty of research and choose very carefully to find the very best companies. Then check out their websites and feel happy in yourself you’re going to the right people!

Think everything through clearly first. You can of course find no-profit companies who can put you on a special program. Some of these organisations really can be a fantastic source of help in very difficult fiscal times.

Debt Consolidation Programs

 

There are organisations who specialise in these types of schemes as finding yourself in debt isn’t rare given the economic climate of the last few years. So many individuals find they are so far in the hole that they are having to make difficult choices between the necessities of living and paying their bills.

Living in fact, from day to day! A debt programme can stop the hole getting bigger and help begin to fill it back in albeit very slowly. You can then stop and take stock of everything. They won’t charge a fee and you pay them a certain agreed amount each month – this can even be quite a low figure in some cases. Your case is reviewed now and again and the monthly amount can increase when you start to get back on your feet.

Again carry out plenty of good research and ask the various consumer groups right across America for advice. You’ll stop all the letters, calls and extra stress by letting these people negotiate for you – again they can even arrange for interest to be frozen, and will know a lot of the companies involved quite well as they deal with them on a daily basis.

Remember, any form of debt settlement is a negotiated agreement between a debtor and any creditor to whom the debt is owed. It covers all your unsecured debt like credit cards, other loans or forms of credit. All unsecured debt settlements can be handled in one place at the same time. This in turn makes things much easier for everyone involved.

Debt Consolidation Information

CHECK THIS OUT: http://www.debtconsolidationcare.com/companies/

There’s a wealth of information to be found on the internet and it never does any harm to talk to consumer advice groups either. Take some valuable time out to do this methodically. They can point you in the right direction and will also have recommended companies and groups you can go to.

The most important thing is to recognize when you’re in trouble and do something about immediately – this can save you so much stress and hassle in the long run. Help is always at hand so never be afraid to ask!

Make no mistake the credit card industry is big business in our modern world and many people rely on them greatly. We all need credit from time to time and for some people carrying physical cash about on their person apart from small change is a rarity. There seems to be a credit card for every purpose, but in selecting a card are you getting the product you really need?

More than 78 per cent of all households in the United States have at least one credit or debit card they use on a regular basis, so you can see at a glance just how important it is to get the process right! Well this article will focus briefly on some of the many cards available and how they work so hopefully you’ll be better informed and able to choose a card suiting you best avoiding any pitfalls along the way!

An Everyday Credit Card

We’ve all had numerous offers coming through our mailbox presenting a whole range of credit cards in all colours, shapes and sizes. Some are very tempting when you first see them but the trick is to pick a card either with 0 per cent interest or a card with benefits such as air miles, shopping points, travel incentives, gas incentives or even cash back.

Credit card offers are increasing by the day right across America for sure so you should read the small print thoroughly and decide what might be best in the long term! It’s important at this point to mention student credit cards can come with some very tempting offers but make sure you know what you’re signing up for and use them only when you need to!

Credit Cards for Bad Credit

Such is the competition these days it’s possible you can get a credit card even when your credit history isn’t great or has faltered, though of course this isn’t guaranteed. The interest rates on these cards will be much higher of course and if used wisely your credit limit will be increased slowly.

Shop around though, and try and get the lowest rate possible. But you should also get a free copy of your FICO credit report before applying. Used wisely these can actually help repair a poor credit rating over time, and they could rescue you from the financial abyss.

What the Media are Saying

Secured Credit Cards

 

With bad credit very much in mind in this faltering economy you should be aware of this product if your credit score is really poor or in fact you don’t have a credit history at all! They are a great option for establishing or rebuilding your complete credit score, if you can get accepted by a company. The fact is they are becoming very big business in themselves and some of the criteria has even been relaxed.

Once someone is approved for one of these cards they are required to make an initial deposit into a secured savings account. The amount of credit they have will usually be the same as the amount in the account. This deposit is held as long as the account is open. Many people have these credit cards in the United States, so don’t worry as some individuals simply can’t help not having a credit history for a number of very genuine reasons! There’s no need to feel any stigma may be attached to them!

Business Credit Cards

This type of innovative card can prove invaluable for small business owners and sole traders in particular, and you can get special rates from the credit card companies for working with them on a long term basis. Pay off the balance on time and they can become a vital business tool in the long run. In some cases there are no annual fees and many carry a whole host of rewards from cash back to luxury travel programmes, and a lot more. Let’s be honest, everybody likes to get something back!

Good research is the key before signing up so take a good look around the market, as there’ll be something to suit your own approach to business, and you really could benefit from this.

Best Credit Cards

It’s true to say at one time a certain type of credit card stood out against the rest. Many people believed a Visa credit card as a trusted brand was the best you could possibly get. Mind you, for a long time there weren’t many rivals.

Competition in the market has now changed all of this so even though Visa still has a terrific reputation worldwide as well as in America, there are now quite a few other cards with just as good a name. It really all boils down to what you think will suit you best, but the fact is you should always look for a card with as low an interest rate as possible.

Or a card with 0 per cent interest for a limited time period! There’s plenty of information on the internet involving most credit card companies so take some time and study them if you can. The competition is extremely fierce and as a consumer you should make full use of this!

CHECK THIS OUT:

It’s very important you understand the information contained in the video. It could make a lot of difference to you fiscally!

Credit Card Processing

This isn’t always widely understood by the general public even though they are part of the system on a daily basis without them realising. But this lucrative method of card processing is the way in which merchants are able to both accept and receive funds through their customers’ credit and debit cards.

If you have a business this will normally involve signing a contract with a processing company who will then put the proceeds from card sales into the merchant’s checking or savings account. The fees for this type of service are determined by a number of things, including whether the card information is swiped or keyed.

At the end of the working day, the business owner can receive the money made from credit card transactions with a simple request to the bank. This all makes the lives of merchants and customers much easier as everyone seems to benefit.

Conclusion

You can see there are credit cards to suit everyone from every walk of life whether you are a running business, have bad credit or simply looking for the best card for your own personal needs, or for a specific event! It’s important to read the small print from top to bottom, carry out plenty of research and shop around. Trying to get as low an interest rate as possible will make a big difference to you.

We all realize life would be very hard today without them! Credit cards can be a handy tool when used responsibly. They even come with various specialist offers, we can all benefit from. Watch the videos enclosed and take all of these things fully into account before you sign up for a card! To be honest, looking for a credit card can also be fun!

Take a look at this:

Good Luck!

This is a concept we’ve all seen take off in a really big way over these past few years and it shows no sign of slowing down. Add this to the bad state of the economy and the fact some people are really struggling on a day to day basis and its natural individuals will be looking at extra ways of getting cash.

We’ve all seen the advertisements screaming ‘cash for gold’ at us, and in every state people seem to be making good money from the many services available. But do we all know how this really works and why there’s been a modern return to those Yukon days when gold was so vital? Well this article will give a simplistic account of the process leaving you in a good position to make your own mind up!

Selling Gold Jewellery for Cash!

People have done this for years of course but this has seen an upsurge as part of the all round process. And why would you want to sell gold jewellery for cash? Well because it’s a great way of getting funds quickly, if you can manage to take the emotional aspect out of things.

But the very first thing you need to do is to find out how much your gold is actually worth. The best way is to go to a jeweller and let them determine your gold’s worth. Just remember the price can and does change daily as the actual spot price of gold changes all the time. When researching companies you must determine whether or not they are BBB accredited. You want a business with a BBB rating of over a B-.

You must always be wary of any company not accredited. The majority legitimate of gold refiners will go through the trouble of getting accredited. Just to be sure go to the company’s website and check out their buying and selling policies. Confirm what percentage they pay out and how they go about handling your gold. Oh and look up their insurance policies too, just to give yourself complete piece of mind.

The top companies will have excellent insurance to cover many different eventualities. If they don’t then the general rule of thumb is don’t touch them. After all you don’t want to put your precious gold items in the post only to lose them or indeed any compensation.

Do not accept any offer under 80% of the spot price of gold. Many gold refiners are willing to pay 90% or more for the right items so don’t be short changed!

You can take your pieces into one of the many stores across America who specialise in this. They’ll look at the item, weigh it and then offer you a price and cash there and then. You’ll see cash for gold locations both on the internet and advertised on TV. Most companies make it really easy sending you a specially padded envelope which is prepaid. You then just mail your items risk-free and the company will do the rest and send you a check.

But make sure you have a direct contact telephone number and a proper address and not a PO box or something you just don’t recognise. Check them out thoroughly before parting with anything just to be absolutely safe. Some companies will pay you for any item containing precious metal, even if it’s broken, bent, dented, scrap, or simply unwanted; your items have actual cash value, so take the best advice first!

What The Press Are Saying:

• www.reuters.com/article/2009/01/27/idUS148938+27-Jan.

BUT REMEMBER IT’S NOT JUST JEWELLRY – COINS, WATCHES AND A WHOLE HOST OF OTHER ARTEFACTS ENABLE YOU TO SELL GOLD FOR CASH!

In fact cash for gold prices at the time of writing in the United States were at an all time high. This is because Gold’s price is not driven by industry. There are lots of industrial and high-tech uses for the metal, and the general use for gold hasn’t changed for centuries.

Gold is basic terms what we call a store of value. It’s an asset that can be and often is held by many people as a store of wealth. But while gold is not money, it shares a very important characteristic with money itself, namely value. The term itself tells you everything you need to know as it’s the best value you’re after.

If you are interested in scrap gold prices there are many options online which will stream up to the minute gold prices to your browser or your iPhone, so take advantage of the technology if you can! You must ensure you’re the person in charge during any transaction so you can haggle when you know quite clearly you’re not being offered the full value for your gold items.

Gold is Still Seen Primarily as A Store of Wealth

But you must beware as there are a number of scams involving the sale of gold items it’s amazing just how many people can get stung by these scams brought about by heartless individuals just itching to profit from other people’s valuables!

Cash for Gold Scam?

It’s also been in the news there is a new scam sweeping across America known as the Cash for Gold Scam and consumers are being advised to beware of anyone who might approach them on the hoof!

Gold Buyers who say they are acting as Middle-Men in the gold refining Industry. Don’t be taken in as they seriously undervaluing your used gold and will only offer you a fraction of what it’s worth. Some companies offer you much less than your gold is actually worth and others claim your scrap gold is not real gold and charge you to send it back.

Even worse in some cases if you do pay some don’t actually send it back. Just like any field of finance when something is trending unscrupulous groups emerge from nowhere to try and take full advantage of people. Sadly, they normally succeed as other people suffer or lose everything!

There are many more scams out there so only use one of the top companies and even then carry out plenty of research and feel comfortable with them before parting with your gold in any form.

Gold for cash can be a wonderful way of raising cash when you badly need it but make sure you take every precaution possible and only deal with those companies who have an outstanding reputation or are accredited.

As with everything involving money you need to take plenty of time in order to carry out thorough research. This will always put you in a much stronger position in any case, and actually it can be an interesting thing to do.

Remember it’s so easy in desperation to accept the first offer you get or just take what anyone is willing to offer. And don’t forget the insurance side of things! Make it a disciplined process and you can make good money or at the very least get full value for your gold. Good luck with the sale!

When this happens there are a number of solutions to the problem – debt consolidation is one of them.

So What is This Debt Consolidation?

 

If you owe money to various companies then it’s easy to lose track of what payments are going where. Debt consolidation simply means getting a loan to sort all of these creditors out. This means you end up with one monthly payment instead of several.

It doesn’t work for everyone of course, but used correctly it can provide a great solution to your problem. The fact is, you know what’s going out of your checking account and when!

If you owe money to various companies then it’s easy to lose track of what payments are going where. Debt consolidation simply means getting a loan to sort all of these creditors out.

This means you end up with one monthly payment instead of several. It doesn’t work for everyone of course, but used correctly it can provide a great solution to your problem. The fact is, you know what’s going out of your checking account and when!

Ok But is a Home Equity Loan the Answer?

First of all of course, you must be in the fortunate position of having your own property. If you do, then a home equity loan can solve your problems. As a homeowner you know you have cash in the property which could possibly be accessed at a fairly low rate of interest. Because of the low interest rate you can certainly benefit in terms of consolidating your debts.

Ok But is a Home Equity Loan the Answer?

Well let’s just say you have a debt on a credit card which carries an interest rate of 15 per cent. You might also have an auto loan standing at six per cent. The total balance of both loans comes to $20,000. If the interest rate average is 10.5 per cent, this would mean you’d be paying $2,000 in interest payments alone every year.

It’s very possible to get a home equity loan for lower than 5 per cent, but only if you have a good credit score. In this case the interest payments on the two loans combined, would go down to less than $1,000 per month. That can make a big difference in anyone’s language. It’s safe to say then; a home equity loan can become a great source of debt relief.

But There’s A Catch!

‘Should you de-fault on the home equity loan or the line of credit provided you could possibly lose your home outright? You must be certain the risks are very limited, and you can manage to make the payments before even considering such a loan.’

What if I Have Bad Credit?

There are some lenders out there who are willing to help individuals with poor credit – the downside is these interest rates will be quite high making debt consolidation a poor move in certain cases. It all depends on the level of debt!

Remember this all boils down to the interest rates involved but in if you plan ahead you could improve your credit score by paying one of the debts off before taking out a home equity loan.

Any Advice?

It’s always possible to lower the amount you owe by negotiating with companies instead of taking out any form of debt consolidation loan. On the other hand you could employ the services of a debt management company who can act positively on your behalf. You might even be able to slash the level of debt by up to a half. Then you could be able to manage the payments much better.

And the Upshot?

The upshot is a home equity loan provides you with an excellent option if you’re looking to consolidate debt. Should you a have a near perfect credit score then you will almost be guaranteed to save money in this way. If you have a poor credit score you’ll probably be unable to find a deal that is beneficial to debt consolidation.

Hey forget a National Lampoon vacation, this will be a great trip whether you’re relaxing, taking in a little business or both! Frankly, all you really want to know is when you’re due to get on the plane?

But wait……..are you completely organised financially? Have you taken precautions? Do you have the right money? Actually it could be a surprise just how many people aren’t organised at all!

Not enough cash, credit card goes over the limit; all manner of things could go wrong. So follow our guide and ensure you’re smiling both going and coming back!

OK So What Do We Need to Do Smart Alec?

It may seem silly but the first thing you should do is let your bank know you’re going abroad, how long you’re going for and when you plan to return. Put it this way?

If the bank then sees there are fraudulent looking withdrawals then they can double check to see what’s happening and so protect you along the way. They can freeze accounts if need be and you may even avoid big cash withdrawal charges.

It’ll only take a minute or two to make the call and then you’ll know you have a safeguard in place pronto! Mind you, it makes sense to be with a credit union as fees are lower anyway and as for the big banks, they’d probably appreciate you telling then as a matter of course!

Now Sort the Credit Card!

Yes this is just as important and remember to tell family, employers and friends maybe which company you are with. If you have multiple cards don’t take them all! Again tell the company what you told the bank. Many credit card companies are quite good with withdrawal charges and of course you may even be using points or other benefits on the card.

Customer services will take the call and then you’ll be free to relax with real peace of mind. It can be hard enough when your card is rejected for any reason at home, but when it’s abroad it can cause all sorts of terrible problems. So be sure!

What about Cash Then?

Well we all know we can carry a certain amount of cash for drinks, meals, days out and all the other stuff. Ensure you take more than the required amount of money just to give you an added safeguard. The fact is it’s best to use cash whenever you can instead of any cards to avoid charges.

The worry of course is carrying this around but use a proper hidden pouch and safe in the hotel room. This also means you’re reducing the threat of identity theft. You can organise your cash across a number of days so you can actually control and plan your spending. If you lose your money it’s better than losing any of the cards of course. In actual fact a great deal of this is down to common sense, but gentle reminders never do any harm to any of us.

Reminders?

Our time abroad should by and large be enjoyed and not spent worrying over this and that. It’s amazing what problems people can get themselves into financially though and of course, things do go wrong from time to time, causing unbelievable stress. Organising the finances isn’t a glamorous job but for the time spent going through the process, it has to be worth a little inconvenience. So pack that case, make sure the passport is at hand and go take on the world, safe in the knowledge you are fiscally secure!

Hey listen? No-one wants anything but the very best for you, but of course we all know our time on this earth is limited. Even Barack knows he’ll have to leave office in time right? But if we have families then it makes sound financial sense to take out life insurance.

But there are times when for whatever reason we won’t be able to get cover. It may because we’re in poor health to begin in which case you just might not bother. As George W once said: “you’re either with us or against us”. So be aware some insurance companies do insure those not in the best of health. But how do companies determine what cover you may be afforded. Tell you what let’s look at it from their perspective?

This process of giving you the once over is the underwriting process! Every insurance company has a different way of doing this. Generally though the process comes out of the same concept. What are the risks in insuring you and how great are those risks? Well they will almost certainly look at your lifestyle, occupation and income. You can add to that:

• Dread it! – your age!
• Gender
• Marital Status
• Height and Weight
• Dangerous Hobbies or pastimes
• The purpose of the Insurance
• Yes – do you have a history of smoking
• History of health in your family

What else will happen?

Like it or not your medical records will be passed over to the insurance company and you’ll undergo a medical. If you suffer from an illness or are disabled then they’ll ask for a doctor of your own choice to carry out an examination.

And If I’m not sure where I stand health wise?

There’s no need to worry as you can use the services of an impaired health specialist. They know all about the underwriting process and can help point you in the right direction in order to get the correct insurance. These experts can sometimes negotiate with the insurer to get you the best deal possible. They can frankly, present your case in the most enlightening way

So what happens next?

Insurance companies will look closely at all the information you provide and then give you a rating. This is based upon the risk you give them and the probability of having to make a payout within a certain timeframe. It’s really all about crunching the numbers but this all goes into the mix before they decide what premium you should pay based on this information. The truth is some companies can be quite aggressive in their approach and other companies will be a bit more relaxed.

Are there other things I can do to help?

Yes there are and one of them is to talk to your own doctor. In actual fact you should really alert to the fact an insurance company will be asking to see your medical records. His or her opinion can have a great bearing on insurance especially if you already have health problems. Try and life a good lifestyle as this will almost certainly help you in the long run anyway apart from simply getting life insurance cover. Timing can also be a huge factor if you can manage things that way. What you should really do is carry out lots of research and shop around as much as possible. Life insurance is like any other product. Get value for money! And just a note to say if you do have health issues then re-insurance is available whereby another insurance company shares the cost of cover. There’s much information on this online and it can help alleviate your worries knowing there are companies out there who can help in this situation.

Remember, in the case of life insurance you are planning ahead and taking care of your family in the best way you can. If anything should happen to you then you know they’ll be looked after for the long term!

Ok good people of America we’ve looked at how easy Layaway is to use and how you can purchase your items.

But we can put the rose coloured glasses away now just to look at what can go wrong – Remember there’s no such thing as a free lunch!

Disadvantages of Layaway

There’s little doubt layaway schemes are convenient for a great many people and affordable. But here’s another catch – they aren’t always free! Surprised?

We thought not! Some stores may actually charge you a nominal fee just to kick start the process. They might also sting you with a fee if you make a late payment or fail to pay off the goods fully.

We mentioned credit cards in article one and some stores will let you pay with a credit card – but of course this will make the item a lot more expensive suddenly, so you must weigh all of this up!

There are limits

Retailers aren’t altogether stupid and of course some goods simply won’t be available on Layaway. These will probably include computers, food and liquids. There’s also one little concern that if the store closes down due to bankruptcy, consumers may well lose their money. Though we shouldn’t think this will happen with Wal-Mart, so stick with the big names if you can!

Thoughts!

You’re probably wondering why Layaway schemes died out and you may not know they actually kept going until the 1980’s. Credit cards came thundering onto the scene and with the advent of modern technology consumers wanted to have things right now! Stores didn’t want the added costs of handling the goods and storing the merchandise. This was the advent of store branded credit cards, so the layaway system was taken away but not altogether! Credit cards will still actually quite new for many Americans at this time. Oh and E.T paid us a visit!

So what can we learn from all of this?

Layaway was put into storage by many stores in the 80’s and 90’s as the plastic became fantastic, and the 20th century entered a new era. But in 2008 the economic crisis really hit American families hard and retailers were suddenly forced to think of something new to keep their heads above water. In fact some stores began to specialise in layaway. We’ve mentioned the system can teach people budgeting skills, and even help them with their savings plans. So all of this has to be good fiscally! The fact is it teaches us all we can’t expect to take goods away unless we can afford to pay for them in full. Instant gratification can also get us into financial trouble very easily. We begin to learn the true value of things and that credit cards shouldn’t really be used to pay for goods in this way. We need to pay full attention to the fees stores can introduce and what the small print contains at the bottom of the agreement. We have to choose what we buy wisely and be sure we can meet the regular payments.

So what’s the rub?

Well the upshot is Layaway plans are financial tools that when used correctly can benefit us greatly without getting us into debt. But they need careful planning and much discipline to make them work fully! The old fashioned values can shine through and help us with our financial commitments. Layaway plans are actually quite ingenious and nothing to be ashamed of. They can be used by people from all walks of life……..God bless America! Layaway is the future!

Doesn’t this concept sound wonderful? You can get the things you need and not get yourself into trouble financially?

Whoever thought of this should be President?

But wait, just as in all the movie drama’s there’s a catch!

So what do they call this cunning plan?

The name is ‘Layaway’,

LAYAWAY – A WAY OF PURCHASING RETAIL MERCHANDISE HELPING CONSUMERS TO PUT AN ITEM ON RESERVE AND MAKE PAYMENTS ON IT!

Yes, you’ve guessed it, you can take away the goods once they are paid for in full – isn’t that complete genius?

This little baby goes all the way back in time to the great depression when shoppers had very little money to make any full purchases.

Just like fashion items the layaway system was hidden away until just a couple of years ago when the economic problems of the day began to bit as hard as Jaws!

Retailers saw this as a great marketing tool and a way to draw more customers into their stores. And guess who lead the way? No it wasn’t Al Gore again, but ‘Wal-Mart’. It was also a winning strategy as the system soon began to catch on again.

OK smart A……….but did customers benefit from this?

Well we know what you’re thinking? Is this just a new way of boosting bottom lines or do people really score big time? To be honest, there’s a line meeting in the middle of this so both parties still come out smiling. But of course some people might see this as demeaning and some may look upon it as a gift from heaven. And yet any way of helping people to buy things they can’t afford in one go has to be a great idea right? Well yes, but let’s take a look at all of this in closer detail and you can make your own mind up?

What are the benefits of using Layaway?

So we’ve already established Layaway assists shoppers in buying goods even if they don’t have the full amount of money available initially. It works like this. Consumers will be asked to pay a small deposit and then the item is held by the store for a fixed period of time. This time period is completely at the discretion of the retailer buy will usually be no more than 60 days or two months. You’ll find this will probably be extended during peak holidays or busy shopping seasons like Christmas.

In real terms this system presents an opportunity to people of ensuring they can lay their hands on the latest gifts, knowing they’ll be there for them further down the line to take home. This can be a wonderful way of planning ahead and staying organised. Once the store has put your item on Layaway the purchaser will need to make regular payments toward the total cost of the item until they reach the required full amount. But there’s one truly great thing about this scheme?

PUT YOUR CREDIT CARD AWAY AS UNLIKE CREDIT CARDS LAWAWAY PROGRAMMES DO NOT CHARGE INTEREST. MORE IMPORTANTLY YOU CAN FORGET ABOUT ANY CREDIT SCORE WORRIES AS THEY SIMPLY DON’T MATTER!

So there you have it – a simply system to help you whenever you feel the need whereby both retailers and consumers come together in perfect harmony! Cue for a song……..right?

Wrong…….but many experts believe this is a terrific way of getting people to work to personal budgets. You’re actually paying for an item over time so you need to be disciplined and methodical or quite simply – you won’t get the item at all!

So in part 2 and you must read this because we take a look at the downside of the system. We look at lessons we can all learn from this and sum up whether the system really does work.

It’s a personal choice as to whether or not we stay in our homes when retirement comes, or move somewhere else specifically to enjoy these years.

Some people dream of moving abroad, others like to begin afresh in a new location. But whatever we choose to do the same considerations come into play as buying any other property at any time.

Let us guide you and give you some great advice on the topic. But first you need to ask yourself a few questions?

What will you plan on doing in retirement?

• By this we mean will grandchildren come to visit?
• Will you be taking up a specific hobby or occupation?
• Do you have adequate healthcare nearby?

You really must take all of these things into consideration before making a decision.

So what do we have available?

Well let’s begin with what we call vacation homes as these can be altered slightly to become the primary home of the retiree. Quite a lot of people will have a vacation home and wish they could live there all the time! Well of course this is very possible in retirement for sure!

No-one can predict what will happen in the future so we can’t be certain of values in this area. Some Americans will be lucky enough to purchase both a retirement property and a vacation home!

And there’s the good old condominium!

These are extremely popular with retirees and of course they are great for downsizing. Those able to live in a condominium community will find a range of facilities and a wonderful opportunity to add to their social lives. Perhaps the greatest attraction here is the fact maintenance costs are suddenly reduced. This can have a big effect on your cash flow!

The downside is it can be a bit more difficult finding a condominium, but the process is very similar. You need to qualify for a loan and your credit history must be good – and of course you still need a regular income. Some lenders may even require you to make a 25 per cent down payment, so be aware of this! The crux seems to be that unlike mortgages the condo association has to qualify in order for the mortgage to be rubber stamped!

In truth the borrower doesn’t have much control over this area of the process. These lenders are following new guidelines from the Federal Housing Association or FHA. According to Fannie Mae – these requirements must be met:

• No single investor can own more than 10 per cent of the units.
• More than 50 per cent of the units must be owner-occupied
• All planned amenities must be completed if the development is more than a year old.
• No more than 15 per cent of owners can be classed as delinquent on monthly fees.
• Those borrowers who make a downpayment of less than 25 per cent will pay either an extra 0.75 per cent of the loan at closing, or a rate of interest 0.25 per cent higher!

Check this out:

So what about retiring overseas?

For many this is the dream situation – living in a paradise or gorgeous place – retiring and simply enjoying life. And it can be done big time! Low living costs and small property taxes make this sound very appealing. You can find some of the best housing markets in the world close to the United States, if not in it! There are a number of destinations overseas attracting complete communities of expatriates!

The benefits can be fantastic but you need to do your research and plan well. Some nations will have their own rules and regulations regarding how the property can be used so you must take good advice on this. Talk with a real estate professional who is experienced in the field to determine whether such a move would be practical for you in the long run.