Why Do You Need to Know Your Credit Score?

Credit Score

Why exactly does everyone always say you need to know your credit score?  What is it about it that makes it so important?First things first, you need to understand what it is.  Your credit score is the statistical method that lenders use to determine how likely you are to pay back money borrowed, states Investopedia.com.Credit, by its nature, is money that you borrow with a set time frame to pay it back. People with a higher, or better, credit rating get better rates on money that is lent out because there is less risk involved in loaning to them.For example, a high credit score will allow you to pay back at a smaller interest rate because you're more likely to pay the money back in the first place.This is an important … [Read more...]

Can the Experts Really Help Us Find Good Stocks to Invest In? Let’s See for Ourselves

Financial Pie Chart

One of the most thrilling and scary things you can do with your money is to buy individual stocks.I like to hold a small portion of my investments in individual stocks because I have found it to be a very useful component to my overall plan for financial freedom (my money design as I call it).Plus I’ve been investing for a long time so I have a pretty good idea of what to do.Unlike when you own a mutual fund, you lose the safety and security of owning 100’s of stocks at one time when you buy pick and buy stocks one a time.  (Of course the experts have also said that you really only need 10-12 stocks to be adequately diversified).But then there’s a pretty lucrative up-side to stock investing: Your winners could be unbound!  … [Read more...]

Make Sure You Choose Your Family Health Care Insurance Wisely

Operating Room

For all the millions of people in the world who don’t work, freelance, or are semi self employed, they take on the ultimate responsibility of finding their own family health care insurance.Unfortunately we live in a society nowadays where any and all medical care is somehow influenced by what sort of health insurance you either do or don’t have.If you can afford great insurance, then you have nothing to worry about.  Anything that happens – you’ll be covered.But if you’re looking for insurance on your own, how do you know you’re getting the kind of coverage you should have?  How do you know if you’ve selected a terrible provider?  Choosing poor service could end up costing you thousands of dollars out of pocket … [Read more...]

14 Easy Ways How to Cut Power Bill Expenses During the Winter

Winter house

The winter-time can be a very challenging time for most people.It’s cold.  It’s dark.  And it’s hard to travel.Unfortunately all of those things can make people want to stay indoors during that time.  And that can lead to a big increase in your energy bill.All of the sudden you’re dealing with drafty windows, more hot water treatment, and a whole more electricity usage than you ever would have during the Summer-time.Luckily there are lots of effective ways how to cut power bill costs that are easy to do.  All it just takes a little bit of planning and a few basic things to remember.  Helpful Ways How to Cut Power Bill Costs:Lower the thermostat.  Each degree that you turn down your thermostat will result in 5% … [Read more...]

The Top 5 Tips for Avoiding Inheritance Tax

British Pounds

The United States isn’t the only place in the world where people have to worry about how they will pass on their life-long fortune to their heirs.  The English have similar problems and rules written within their tax codes that can complicate how an inheritance is handled after a loved one passes away.The interesting thing that a lot of people don’t really understand: It doesn't matter whether a person has paid the basic rate of tax for a lifetime.  They will become a higher-rate taxpayer posthumously if their estate is worth more than £325,000 upon death.While that may sound like a high threshold, it means thousands of homeowners in the south of England could be hit by IHT solely because of their ownership of … [Read more...]

A Sample Financial Plan – How Should You Budget Your Money?

Business Data Analyzing by adamr

It’s occurred to me on several occasions that not everyone reads money magazines or CNN Money as much as I do.  For some people knowing where to start is practically half the battle when it comes to getting a grip on your finances.What they need or would love to see is a sample financial plan that just gives them the hard numbers!  They need something that could use as an example for how you should be saving and spending your money.  That’s exactly what I wanted to do in this post.For one second, let’s put aside the whole, touchy-feely, fluffy notion that every plan is unique.  It is (don’t get me wrong)!  But there are some general figures that you could go by that may not be so bad.If anything, consider them a good starting … [Read more...]

The Ultimate Guide to How to Have a Tax Free Retirement

protect money

How incredible would it be to have a completely tax free retirement?I’m serious.  You would owe no taxes.No, you won’t have to live in poverty.  In fact if you’ve got enough savings you could withdraw over $100,000 and still not owe the government any money.Is that even possible?  Of course it is.  Lots of wealthy Americans take advantage of tax loop holes every day to pay a lower tax rate than their peers.  There’s even a famous statement from Warren Buffett where he says that he is paying a lower tax rate than his secretary.Fortunately for you, we’re going to do a little better than that in this post.  We’re going to see if we can’t find a way to pay NO taxes at all!All we’ll need is to be creative with how we plan to … [Read more...]

The Pros and Cons of Brokers When You Try to Sell Your Annuities

business graph

Somethings your investments just don't work out like you planned, and you might decide it's time to sell your annuities.  But selling a structured settlement can be a tough task, especially because of the mandatory court approval requirements, and the involvement of other stakeholders such as claim adjusters, attorneys, and of course, buyers. In addition to all this, you also have to decide whether you want to opt for the services of a broker.So how do you know if using a broker is the right decision?  Pros of having a broker help you out to sell your annuities: Accurate representation of technical information about your settlements so that there are no last minute shockers – There is a lot about your structured … [Read more...]