The two leading credit card companies in the world today are the competitors Visa and MasterCard. They both operate along very similar lines.

While Visa can claim to have almost a billion cards issued, MasterCard has over twenty five thousand banks issuing its cards and it is difficult to find any difference in the number of locations worldwide that accept the cards, which is now estimated at over twenty million.

In fact, as far as most consumers are concerned, there is no real difference between the two. They are both very widely accepted in over one hundred and fifty countries and it is very rare to find a location that will accept one but not the other.

How Visa and MasterCard Work

However, neither Visa nor MasterCard actually issue any credit cards themselves. They are both simply methods of payment. They rely on banks in various countries to issue credit cards that utilise these payment methods. Therefore, the interest rates, rewards, annual fees, and all other charges are issued by your bank. When you pay your bill, you’re paying it to the bank or institution that issued your card, and not Visa or MasterCard.

How Visa and MasterCard make their money is by charging the retailer for using their payment method. So the truth of the matter is that a Visa issued by the Bank of New York will have very little to do with a Visa issued by another bank. It may be more similar to the Bank of New York’s MasterCard.

Is There Much of a Difference?

What this means for the vast majority of customers is that you do not have to overly concern yourself with whether a credit card is MasterCard or Visa. You would be better off concentrating on the interest and other charges on the card, the balance transfer possibilities or their reward points. You are very unlikely to ever be effected by the fact that it is one and not the other.

If you are going to have two credit cards, you may decide that you want one of them to be Visa and the other MasterCard. If something drastic were to happen to one company, or if you were in the unlikely position of finding a location that accepts one but not the other, then you would have the option of paying with either.

[bctt Tweet=”Is there a difference between Visa and MasterCard? The answer might surprise you.”]

Some Stats:

• Numbers show 30 million merchants for Visa and 28 million for MasterCard in 2009.
• Visa has a few sporting event exclusives: Olympics, a few NFL teams.
• MasterCard also has greater coverage in higher education because Visa does not allow schools to charge convenience fees for tuition payments with a credit card.

At the end of the day however, much more depends on the bank that gave you the card, than on the type of card it is.

There is always a third option:

1) Income Taxes

Whenever someone thinks of taxes, they usually think of federal income taxes first. That is because between Federal and State taxes, some Americans lose as much as 35% of their paychecks to income taxes.

2) Business Taxes

Also known as corporate taxes, business taxes are direct taxes levied on the profits of businesses. However, expenses that are deemed necessary to the business can often be deducted to lower the amount of profits subject to tax, some business opt for the eis scheme option that helps them raise capital in a faster way.

3) Property Taxes

Property taxes are imposed on property by reason of its ownership. They are usually paid on real estate, but can also be paid on personal property, such as boats, automobiles, recreational vehicles, and other business inventories.

4) Payroll Taxes

These are the taxes that must be deducted from wages paid to employees, and the employer usually must match the amount taxed. Some payroll taxes include federal withholdings, disability insurance, Medicare, and other state withholdings.

5) Inheritance Taxes

The inheritance tax, also known the “death tax”, is a tax that arises from the death of a taxpayer. It is imposed on the transfer of any property or asset transferred as the result of a death.

6) Capital Gains Taxes

In the United States, a tax is levied on all income generated from a taxpayer’s capital gains, which are profits from the sale of an asset that was purchased at a lower price. The most common capital gains are created from the sale of stocks, bonds, and property.

[bctt tweet=”A list of 12 #taxes Americans have to pay. How many do you know?”]

7) Excise Taxes

Any tax that is based on the value of the product being taxed is considered an excise tax. They are based on the quantity of the product. Common examples include those levied on gasoline, cigarettes, taxes, and even those on CD-R’s and DVD-R’s that are paid to copyright owners.

8) Sales Taxes

Consumption taxes, also known as sales taxes, are levied at the point of purchase for specific goods and services. It is usually a percentage determined by the levels of government charging the tax. Due to individual state and local taxes, the exact rate you pay will vary widely by location.

9) Gift Taxes

A gift tax is a one that is levied on the transfer of a property by one taxpayer to another while receiving either nothing or something with a less than equal value in return. Selling something at less than its full value, or making an interest-free or reduced interest loan, may qualify as giving a gift.

10) Retirement Taxes

All taxes levied by the government to plan for a taxpayer’s retirement could be considered retirement taxes. In the United States, we pay into a social security system that provides income to retired workers from the general fund. Our tax is regressive as we all pay the same rate up to a specific cap. Then all income above the cap is not taxed.

11) Tariffs

An import or export tariff is paid when someone moves any good through a political border. Typically, it is used to “encourage” local businesses and “discourage” the purchase of foreign goods, as it increases the price for the foreign goods.

12) Tolls

Tolls are charged to drivers who cross through designated bridges, tunnels, and even some roads. They’re usually always paid in fixed amounts each time you drive pass through the restricted area. Tolls are frequently used to fund state projects, but can also be used for privately funded projects.

 How many of these taxes were you familiar with? Did any of them surprise you?

When you go to buy a car, you want to get the best deal. While getting a good deal relies on your negotiating skills to a certain extent, getting the most bang for your buck also includes getting a good interest rate on your auto loan.

However, unless you have a good credit score, you won’t be able to get the best interest rate. As a result, it helps to be educated about credit score ranges, and how you can improve your score to get the best possible interest rate.

Saving Money on Your Auto Loan

You can find out about the best credit score to buy a car by heading over to myFico.com. The web site offers a handy calculator that can help you see how much you could save with a better credit score. According to the site, using national averages, you should be able to get an interest rate of 3.201% if you have a credit score of over 720 and finance a new car on a 48-month term.

You can still do pretty well with a score of between 690 and 719: 4.549%. Other average interest rates, depending on your credit score range, according to myFICO.com, include:

• 660 – 689: 6.618%
• 620 – 659: 9.736%
• 590 – 619: 14.014%
• 500 – 589: 15.428%

If you are below 620, there is a good chance that you will have to pay more than 9% on a car loan.

Additionally, you might have trouble buying a car with a loan if your credit score is below 600, although some dealerships offer financing to those with credit scores as low as 580. But you will pay a premium in a higher interest rate, spending more money over time.

Improving Your Credit Score

It can be a good idea to check your credit score before you buy a car. This will give you an idea of what to expect — and give you an idea of what you might need to do to help fix your credit to some degree before you apply for a car loan.

[bctt tweet=”Looking to buy a #car but need to improve your #credit score? Helpful tips here:”]

You may have to pay for your credit score, but checking it can be valuable. You should also check your credit report for errors, and try to get them fixed. If your identity has been stolen, or if there is a mistake on your credit report, it can contribute to a lower credit score.

Other than fixing mistakes on your credit report, some of the things you can do to boost your score include:

• Making sure all your payments are on time.
• Paying down your debt.
• Keeping old accounts open until after you buy your car to show a longer credit history.

With a better credit score, you will be able to get a better deal on a car.

If you have not checked your score before, or it’s been over a year since you last checked it, click below:

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While these statistics are certainly unnerving, they don’t have to be your reality. If you find yourself in these challenging circumstances, it’s time to boost your financial stability with these seven smart money moves.

1. Earn Money on the Side
Evaluate your talents and your time, and research opportunities for some side income. Passive streams of income are ideal, but usually take time and effort to cultivate. A part-time retail job (especially as we enter the busy holiday shopping season) is a good option if you can swing a schedule that complements your nine-to-five and any other responsibilities. For more ideas, check out this list of over 50 ideas from popular personal finance blog, Budgets Are Sexy.

2. Identify Unnecessary Spending
If your budget is tight and you find yourself scraping the bottom of the barrel before each paycheck, it’s time to review your spending. We’re all guilty of spending a few dollars here and there; in fact, 15 percent of Americans’ incomes go toward the purchase of unnecessary items. Over the next month, track every dollar and highlight purchases that were unnecessary. Add up these transactions and you’ll likely find at least an extra hundred dollars in your budget.

3. Switch to a Credit Union
Depending on the fee structure and interest rates at your bank, you might consider switching to a credit union. In addition to offering more personalized service than a big bank, credit unions can offer lower (or zero) fees and higher APRs on checking and savings accounts. Credit unions are also non-profit cooperatives, which means they have more incentive to make you happy than a bank corporation with shareholders.

4. Look for New Insurance Plans
Having life, auto and health insurance payments on autopay is convenient, but you should review your policies every renewal period and shop around for better rates. It pays to be disloyal to your insurance agent, as bringing better rates to his or her attention may yield you a better rate without having to change carriers.

5. Be a Smarter Shopper
Being a smarter shopper requires planning and self-control, but the benefits of financial security far outway the sacrifices. Plan your meals around weekly ads from your grocery store, and try generic versions of foods, medicine and cleaning products to save anywhere from 30 to 60 percent over the name-brand alternatives. Look for grocery coupons from sites like CouponSherpa.com to stack your savings, and use their app for in-store coupons on everything from clothing to restaurants to auto services.

6. Negotiate Credit Card Interest Rates
Minimum monthly payments and high interest rates can make you feel like you’ll never be out of debt. In addition to budgeting so you can make higher payments toward your cards, contact customer service and try to negotiate a better rate. Learnvest offers a great checklist of what to do before and during the call, and Ramit Sethi, author of the best-selling personal finance book “I Will Teach You to Be Rich,” offers this script if you’re unsure of what to say.

7. Consider Used Before New
Regardless of how well you control your spending now, you’ll face plenty of purchases in the future that will fall into the “need” category, like replacing a faulty microwave or a stained blouse. Before you run to the store to review your options, check out what you can buy used to reduce your overall spending by up to 70 percent! From consignment stores to online listings and print ads, there are numerous resources to search for used consumers goods. Here are five other sites similar to Craigslist where you can buy and sell used stuff.

Andrea Woroch is a nationally-recognized consumer and money-saving expert for Kinoli Inc., who helps consumers live on less without radically changing their lifestyles. From smart spending tips to personal finance advice, Andrea transforms everyday consumers into savvy shoppers. She has been featured among top news outlets such as Good Morning America, NBC’s Today, MSNBC, New York Times, Kiplinger Personal Finance, CNNMoney and many more. You can follow her on Twitter for daily savings advice and tips.

For all media inquiries, please contact Andrea Woroch at 970-672-6085 or emailandrea@kinoliinc.com.

Coupon Sherpa App – Apple and Android
Coupon Sherpa was the first-ever mobile coupon app, and features hundreds of digital coupons for popular stores like Kohls and Macy’s. As a previous iTunes Staff Favorite and a regular on top-shopping-apps lists, Coupon Sherpa makes it easy to score in-store savings at retailers and restaurants, especially during the holiday season. Simply hand your phone to the cashier and they’ll scan the coupon. No clipping required.

Decide App – Apple (iPhone and iPad)
We’ve all been there: You carefully plan your purchase to procure the best deal, and a few months later you find your coveted item for much less than you paid. Luckily, Decide.com created an app for iPhones and iPads to help you determine the best time to buy everything from cameras to table saws.

Lookout Mobile Security App – Android
Think about all the personal information your mobile device contains, not to mention the apps and websites you use every day. Couple that with the growing trend of mobile commerce, and your device is a hot commodity for hackers. PCMagazine’s Editor’s Choice for Android is the Lookout Mobile Security App. It’s available for free, or for $2.99 per month for enhanced security.

OneReceipt App – Apple
Like in-laws and baked confections, you’ll likely find yourself overrun with receipts this holiday season. Stay organized using the OneReceipt app to digitally store your many proofs of purchase. You can organize e-receipts and online purchase confirmations, as well as snap photos of hard copy receipts to cut down on paper clutter.

Slice App – Apple and Android
Similar to the OneReceipt app, this one’s for the loyal online shopper. The Slice App organizes all of your e-commerce activity and helps you track online orders and expenditures. Available for free on both Apple and Android devices, the app also alerts you about price reductions on desired products.

Image Source: http://ncfhaexpert.com

Have you thought seriously about refinancing your home mortgage lately?  If you haven’t, you should probably consider taking a serious look it, because in a lot of cases (especially with today’s incredibly low interest rates), refinancing is a tool that could literally save you tens to hundreds of thousands of dollars over the life of your mortgage loan

At the moment, rates are at all time lows and have been for a pretty good while now.  Nobody knows when they’ll start going up again, but they eventually they will and probably will never get this low again in our lifetimes, if ever.  So obviously, I believe there has never been a better time to consider refinancing a higher rate mortgage or even a making a first time home purchase.

How Will Refinancing Help Me?

Depending on what your current interest rate is, refinancing your current mortgage can save you tons of money, as well as many years of payments over the life of the loan, which will work to get you closer to being free from debt much earlier than you otherwise would be.

Here’s a little demonstration to show just how refinancing your mortgage can benefit you.

Compare Mortgage Rates

Let’s say you got a $250,000 loan a few years ago on a 5.5% loan for 30 years ( I recommend 15 years or less, by the way).  Your monthly payment would be $1,419 per month for 30 years.  The total amount of interest you end up paying over that 30 years comes to $261,010.  Which means that in order for you to pay off the loan in 30 years you would end up paying a total of $511,010 on that $250,000 loan (which is $250,000 principal + $261,010 interest).   That’s a ton of interest my friends!

To illustrate a little further, let’s say you’ve been faithfully paying down that same loan for 5 years now, which means you now have 25 years of payments left and you still owe $230,791 in principal and $193,631 in interest.

You’ve seen that rates are really low right now so you decide to take a look at refinancing your loan.  What are your options?

When you still have a large number of years to pay on your current  loan, one of the best strategies you can use is to cut as many years of payments as possible out of your life.

Why?  Because it commits less years of your life to paying those monthly payments and it ends up saving you a HUGE amount of interest.

So with that knowledge, let’s take a look at two strategies of you can use to improve your situation through refinancing using the same numbers from the examples above.

Strategy  #1-  Lower Payment, Less Years: You decide to refinance your remaining 25 years of payments into a 20 year mortgage at 3.5%, which is a competitive rate at the moment.  Your new payment would be $1,338 ($81 cheaper) and you just cut 5 years of payments out of your life.  Even better, you also end up saving $103,184 in interest over the life of the loan.  That’s over 100 G’s back in your pocket over 20 year’s time just because you refinanced.  WOW!!!

Strategy #2- Higher Payment, Even Fewer Years: Now let’s get a little more serious and look at refinancing that remaining 25 years using a 15 year loan at 3.5%, which at the current rates is a little higher than average for a 15 year loan.  When you do this, you will cut out an entire decade of house payments in this scenario.  However, your payment goes up to $1,650, so you’ll be paying $230 more every month.  But the killer part is, now you’ll save a total of $127,443 in interest payments over that 15 year span.  Sweeeet!

This is how you set yourself up to become richer over time.

You set yourself up for greater wealth by simply asking the right questions.

Instead of asking “How much will my payment be?”, start asking “How much interest will I be paying?”  That’s the kind of question that rich people ask themselves.

When you start to think about money differently than the average Joe and begin asking the right questions, you start succeeding with money.  Doing what Joe and Jane average consumer do with their money will get you deep in debt and keep you there, because the average Joe and Jane are broke.

Right now is probably the best time in history to own a home in most areas of the country, but the mainstream media hasn’t been talking about that.

Prices are starting to stabilize somewhat and are at the lowest levels in years.

Mortgages are the cheapest they have ever been.

Although I don’t condone debt, I won’t make fun of you if you have a mortgage that makes sense (15 years or less, 20% down payment, payment no more than 25% of take home pay).  When it comes down to it, if you make the effort to understand money and how to use it well, and what the true consequences are if you don’t, then you will succeed with money.

Refinancing your home might not be right for you at this point in time, the numbers just may not work in your situation, but now is a great time to check and see because the rates are so low right now.

Understanding why and how you should refinance and whether it’s a good time for you to do that is just one piece of the puzzle that can help start you down the road to prosperity.

So make the effort and you can save some major bucks!

If you ready to Refinance, check out the mortgage rates in your area:

The issues brought about during the debate included which firms deserved the label “small business” and what kinds of adjustments would help the middle class the most. Job growth was also a recurring theme throughout the debate.

Small Business Matters: Obama’s Stance

It merits pointing out that Obama defended his record where small businesses were concerned. In fact, he noted in the debate that he lowered taxes for small businesses eighteen times during his presidency. The reason that the definition of small business was such a point of contention during the debate was because, as Obama put it, there are quite a few millionaires and billionaires who technically count as small business owners.

Obama has come under fire from the Romney campaign for not being supportive of small business. However, he does support taxing big business more heavily and giving the middle class a break, and actions taken during his presidency support this fact. For example, he helped pass a tax credit for small businesses who hired unemployed workers in 2010. Tax credits were also added for companies that hired veterans.

In addition, Obama enacted temporary small-business estimated tax payment relief in 2010. He also added a deduction for self-employed people’s health care expenses in 2010. There was an increase in entrepreneurial start-up expenses deductions in 2010 as well. Clearly, Obama does have some small business-loving actions under his presidential belt.

Romney’s Stance on Small Business

Although Obama has helped small business owners over the past four years, Romney counters that that help has been minimal in comparison to what he would be able to do if elected. Many pundits are calling Romney the clear winner of last night’s debate since he was armed to the hilt with stats and data about small business – info he wasn’t afraid to use when attacking the sitting Prez with during the event. For instance, he threw Obama for a loop when he pointed out that the President’s tax proposals would only affect a mere 3% of small businesses.

Romney has laid out a clear plan to help small businesses by reducing taxes on small business owners who create jobs. He plans to do this through corporate and individual tax reforms. The next step outlined by Romney is to get rid of the increased regulation that he says is strangling job creators. If elected, he also plans to shield both small businesses and individual workers from labor unions and replace Obamacare with a different kind of healthcare reform.

Both men have their eye on the main event of this year’s election: small businesses. It will be interesting to see how they address the topic in debates going forward.

Have you been shying away from wearing glasses? Do you think it takes away from your looks, yet you don’t have a choice but to wear prescription glasses?

Well if you have too, how about wearing glasses that make you look fashionable and smart? Those that give you a contemporary look that is right out of the catwalks. Make you look no less than a model, yet promising to protect and improve your vision with the highest quality of lenses. And what’s more? You may be the lucky one to get your choice of frames for free!

A generation back, wearing glasses were a necessity that one had to live with. Today it is also an important fashion accessory along with being a necessity. Firmoo.com promises to bring you a plethora of frames, lenses, reading glasses, designer wear in a huge variety of designs and colors for men and women in different styles. In a price range that is pocket friendly and with the promise of the best in terms of quality. Sport your style; be conservative or contemporary, simple or stylish.

Firmoo.com offers quality and the promise of being the biggest online eyeglass store. With labs at different places around the world, we get the best options available and offer them at the most competitive prices at our store. Consumer satisfaction is the ultimate motto for the store.

Remember glasses or sunglasses are not just a matter of style alone. They play an integral role when it comes to protecting your eyes – the most delicate part of your body. Gone are the days when you would shy away from a mundane pair of glasses. Get your glasses from Firmoo.com and get ready to take on the world with just a look!

I recieved my free glasses a few days back. Here are some pictures:

 
And here is me wearing my Firmoo.com prescription glasses

Here are 5 ideas for sources of retirement income apart from a compulsory pension that can provide you with some steady income:
1. Business Income
Now is a great time to cultivate income from a business. This can provide a steady stream of income during retirement. If you start now, building a business online and working to bring in affiliate and ad income, you can get some income down the road. You can also build up an offline business, and sell it down the road. Some sort of rental business can also provide income down the road.
2. Bonds
You can include these in your retirement account if you like. But, if you are maxed out but still want a source of income, bond investing can provide what you are looking for. You receive interest payments, since you are essentially lending money to an organization or government. You can get higher yields with riskier bonds from corporations or other countries, or you can stick with relatively safe Treasury bonds.
3. Dividend-Paying Stocks
Like bonds, these can be used to boost your retirement account. These stocks pay dividends regularly, which means that you get a portion of the company profits — just for being a shareholder. If you hold them in your retirement account, you might be able to have the dividends automatically reinvested. If you have them outside a retirement account, you can still have them automatically reinvested, but many people like to receive the payments and use it as income.
4. Immediate Annuity
If you get to retirement with a substantial nest egg, and are worried about its value, you can use the money to purchase an immediate annuity. This guarantees you an income stream for a set period of time, and the payments begin almost as soon as you purchase the annuity. Be careful, though; not all annuities are a good deal. You’ll need to understand the tax implications as well.
5. Part Time Job
Finally, if all else fails, you can earn an income — and keep yourself busy — with the help of a part time job. This can be a great way to supplement an ailing retirement account. There are also payday loans from companies such as Wonga. Wonga are well known for their fast little loans which is good if you are in need short term finance. Look for something you enjoy if possible. In many cases there is no need to make a great deal, especially if you are just supplementing.

All this is well and good but remember to enjoy your golden years.

The best part about P2P lending is that the average rate of return beats most traditional investments with a stick. I have a nice chunk of change set aside and I’ve already opened a LendingClub account. I’ve been doing my homework in anticipation of funding my first loans using the platform, and I’ve come across some repeated themes that I’ve come to consider “best practices” for first-time lenders to keep in mind.

Diversification is Vital

You are a lender when you fund a P2P loan. This means the risk is much greater than investing in something guaranteed like a CD or a bond. However, you can minimize this risk into virtual nonexistence by diversifying the loans in your portfolio.

When you choose loans to fund, you’ll get the specs on the applicant first. Factors such as length of work history, credit grade, and public records are all on display. For higher-risk applicants, the interest rate you’ll earn is much higher, but so is the rate of default. Good news: LendingClub and Prosper are both as transparent as it gets, and you can check out the default rate for any credit grade before you fund an easy repayment short term loan.

Some investors I’ve read up on have posted great returns on portfolios of loans made up of borrowers with terrible credit ratings. However, these loans are still young and some are already late, indicating possible defaults down the line. Other lenders stick to a more conservative strategy – they stay with the A and B borrowers. The returns are lower, but the rates still outperform CD interest rates by a margin of 3 to 1.

From what I’ve seen after spying on multiple investors, the best way to play things is to fund lots of loans with similar numbers at $25 a pop. That way, defaults won’t hurt unless they happen en masse. This is also unlikely if you do as I plan to and fund loans with a mix of all credit grades, weighted more heavily toward A and B applicants.

Keep Your Money Working for You

I also plan to wave buh-bye to my money after I’ve funded my LendingClub account. What I mean is that I’ll be immediately reinvesting all the loan repayments into new notes. I don’t want any money sitting dormant in my account – I want every single dollar working to earn me more interest at all times.

I’m nervous but excited. When I have money in savings, I inevitably spend it on something stupid. Once my dough is tied up in LendingClub loans, however, it will finally be doing something smart.

If you interested in investing in P2P, please read our LendingClub Review.

While we can’t ignore the need for air-conditioning and constantly running fans during the summer months we can be smart about how we use electricity.

5 Simple Fix’s To Summer Energy Bills

The U.S. Department of Energy says Americans spend more than $22 billion a year on air conditioning, that’s 70% of their electric bill from this energy sucking monster. While you can’t beat the heat in some places without it, there are ways to reduce the amount of money you spend in kilowatt hours used for air-conditioning and madisonheatingcooling.com can be of great help.

1. If you are not home, leave it off. I was always led to believe that turning your air conditioning off and then on again actually made things worse. The truth is you can save significant amounts on your energy bill by turning the air off or at least down when you are not home. (You can endure the heat for a few minutes until the air kicks onJ)
2. Replace the dinosaur window unit. My parents have an old air conditioner unit that we often have to call an air conditioning repair company. I have been pleading with them to replace every time they mention their summer electric bill. Even though purchasing a newer unit will cost you upfront, you can save money on your energy bill immediately, and for years to come.
3. Clean that dirty filter! Guilty as charged, this is not something that ever rises to the top of my to-do list; at least it wasn’t until I received my first summer electric bill and was advised by my electric supplier to clean the filter as a quick fix to reducing my astronomical bill.
4. Let the fresh air in.  Unless you have severe allergies and can’t bear to have the windows open, a few early morning and evening hours with the windows open can make a big difference on your bottom line.
5. Fan yourself a few dollars.  You can cut energy costs significantly by using fans instead of the energy sucking air conditioner monster. Fans use less electricity; therefore reduce your electric bill.

I am not suggesting you suffer through the heat, but a few simple switches may help to control your utility bills leaving more money in your pocket and less of a chance to need debt relief due to the summer heat.

What tips do you have for reducing the cost of the energy sucking monster, air conditioning?

What is HVAC? What Does HVAC Stand For? | Defining HVAC and AC

One of the most commonly asked questions homeowners ask is, “What’s the difference between AC and HVAC?” Ultimately, these acronyms are very similar. While AC stands for “air conditioning,” HVAC stands for “heating, ventilation and air conditioning.”
These two terms are often used interchangeably to describe any type of heating or cooling device in a home. Buying a new Carrier? See High Performance HVAC Carrier AC Reviews. However, even if you view AC and HVAC as essentially the same thing, you should know your options when it comes to heating and cooling devices available in today’s market.

What Type of Air Conditioner Is Right for my Home?

Air conditioning is one of the most important inventions of the last century. When air conditioners were first invented, they utilized blocks of ice to cool rooms and homes. Since then, AC systems have revolutionized the way we live. From various device types to high-tech programmable thermostats, modern-day AC systems are like distant relatives to those of the past. Here are the main types of air conditioners available today.

If you make few good moves once you reach this crossroads, you’ll ensure you won’t find your way into debt again as easily. It’s always a looming reality, so insulating yourself and your family as much as possible is a great way to defend against future debt.

#1 – Emergency Fund

An emergency fund is vital in an unsteady economy. No one should assume they’re indispensable employees. Everyone is replaceable. It’s a harsh truth, but it’s a reality that we must face in the economy today. Once all your debts are paid off, sock away as much as possible to cover six months of living expenses at a minimum. These days, many experts are recommending you save enough to last you a year. The point is – start saving now.

#2 – Retirement

College is important for your kids, yes. But if you’re nearing retirement age, the biggest priority should be your savings. Beef up payments into your retirement accounts and start looking into ways to diversify your nest egg. Remember, you’re doing your kids a big favor by making sure you have the resources in place to take care of yourself when you’re older instead of relying on them to handle things.

#3 – College

Once you have your emergency fund in place and your retirement savings under control, you can finally focus on throwing money at a 529 college savings plan. In most states, people can contribute up to a maximum of $13,000. If you’re married, you can contribute double that, or $26,000, to the plan. When you do, you don’t have to worry about gift taxes. There’s even a special election that allows you to invest one shot of $65,000.

#4 – Investments

Now is a very unstable time to invest. The stock markets are shaky and individual stocks are a real gamble. You can invest in safe vehicles such as CDs and use a laddering technique in order to maximize your returns. You can also invest in unorthodox vehicles such as P2P lending platforms. You can buy mutual funds. Whatever route you choose to invest in, make sure that you spread your money around as much as possible to minimize your risk.

Once these steps are under control, you can focus on the most important debt you have: Your home. Put any extra money that you haven’t already accounted for onto the principal for your mortgage payments. Work out how quickly you can make it happen, and singularly focus on achieving that goal in the time frame you have calculated.

Those of us that have been in debt or are struggling to get out know that credit cards are not all they are cracked up to be. If you carry a balance monthly it is costing you; interest, late fees, over the limit fees, and often the headaches that go along with them.

Credit cards provide us with a false sense of security, a credit limit with funds “available” to back us up in an emergency; but irresponsible credit card use can cost you dearly.

So how can you break the vicious cycle of credit card debt?

The Vicious Cycle

Many of us view our credit limit as “extra income”, and as long as we’re not “maxed out”; the money left on our credit cards is fair game. The problem with credit cards is that create a vicious cycle; the more you have to pay toward your credit cards, the less cash you have to pay for things, which leads to charging more things on credit cards.

This leaves you with a dependence problem; you feel paying with only cash will never work for you or that closing your accounts means you won’t be able to survive.

I often hear:

• What if I have an emergency?
• How will I pay for big-ticket items?
• How will I rent a car, hotel, or buy airline tickets?
• How can I pay for on-line purchases?

Yes, a credit card is helpful for all of these situations; but a necessity it is not. If you work on your budget, plan for the unexpected, and research alternatives to credit cards you can make it without having one.

Plastic that’s not a Credit Card

The two biggest objections to a cash only lifestyle are, “How will I rent a car, hotel, or buy airline tickets? And, I want to purchase something online; I can’t do that with cash.” Sure you can.

Establish an emergency fund.  We all know experts recommend that everyone have an emergency fund and for good reason. Your emergency fund is a reserve of cash for those expenses that crop up that are beyond our control; such as, needing to rent a car, or reserve a hotel room and purchase a plane ticket for an out of town funeral. If your fund is not attached to a debit card that’s ok, you can easily transfer the necessary funds to your debit card.

• A “debit card” with the Visa or MasterCard logo.   Many car rental agencies and hotels will accept these, but they may place a hold on funds for several days to serve as a deposit. This could amount to several hundred dollars, so make sure that you have adequate funds on hand so you aren’t charged fees. Every company is different so you should always check with them ahead of time by calling a manager, or searching for information on their website.
• Open a PayPal account.  You can also use your debit card for online purchases, however the protections are not the same as a traditional card, so be careful. PayPal offers security and better yet can be linked directly to your bank account. No credit card required.

Use a Savings Account to Prepare for Expenses

As I mentioned earlier a cash only lifestyle requires planning. Think about the items you would have normally charged to your credit cards: your kids school clothes, a replacement dishwasher, or holiday gifts.

These are all things you can prepare for. Make a list of these types of expenses that you can save for. You can set up separate accounts for each or determine the approximate costs and set your goal. This way when the time comes to make the purchase you’ll be prepared to pay with cash!

Savings accounts aren’t the only way you can save, consider these alternatives:

• A piggy bank.  Empty your pockets of loose change or bills at the end of the day and place them directly in your piggy bank. Chances are you won’t miss the money.
• Envelope System.  Create an envelope for each of your upcoming expenses that aren’t regular occurrences.

• Layaway.  Layaway is making a comeback. You can select the item or items you want and have the store hold them until you have the cash to pay for it.  Just watch out for fees associated with layaway-you may find it more cost effective to save up on your own.

A cash only life involves a little more work, dedication, and planning but will be worth all the hassle when you are debt free and free from the added expense of interest and fees that accompany credit cards.

You will be keeping more of your hard earned dollar and find you even have more money for the little things you may have given up while on your journey to become debt free.

What tips do you have for living a cash only life?

Image Source: http://www.pawng.com

My husband and I are moving and we’ve been scouring Craigslist ads to buy our furniture. We currently live in a shack and are upgrading to a two-bedroom townhome, so we need items to fill up the space, but we’re still two newlyweds on a budget that don’t have a lot of money to splurge on high-end furniture. Enter Craigslist.

I am honestly surprised by the number of people who have really bad ads. You’re trying to sell your stuff, right? You can’t sell your stuff with a bad ad.

Here are a few quick tips on creating a good ad and how to sell  items on Craigslist:

1. Always include pictures. I’ve seen so many postings where people post ads and fail to include pictures. With hundreds of other ads, why would I take the time to email you about your furniture. “Pictures upon request” just doesn’t cut it. Take the time to actually take some photos and post them with your ad. It will help your items sell a lot quicker.
2. Take the time to take good pictures. Remove your clutter from the area, have natural daylight, take a high quality picture. The better someone can gauge whether it’s the item for them, the less time it will take for you to respond to inquiries.
3. Don’t say “firm” in your posting. I never email anyone who is firm on price. Craigslist is all about haggling. If you want a certain price, then ask for more money so you can meet somewhere in the middle.
4. Play up the positives. If this is a designer brand, state it. I know “Pottery Barn” and “Crate and Barrel” are bigger sellers than say “Target.”
5. Post frequently. If you’re selling something in a high traffic subject, you need to post an ad about once a day. This will help for two reasons: you’re seen more often, and if people are searching for a certain item, you’re more likely to be toward the top of the search terms. Which leads me to my next tip…
6. Include keywords. These can be added to the bottom of your Craigslist ad. You’ll see it often for apartment complexes, but feel free to do it for items too. You can put in the color of an item, the area you’re located, anything descriptive that someone may search for. For example, if I’m trying to sell a couch, I may put my keywords as : brown sectional, sofa, couch, city, large. The more descriptive keywords in your post, the more likely it will show up in someone’s search terms.
7. Respond to email inquiries quickly. A lot of times, people are emailing several ads to find what they’re looking for—especially if it’s something generic, like a microwave or fridge. The person who responds the quickest may have a better shot of making the sale.

Use these tips to help make a good ad and sell your stuff on Craigslist!

You also need to have the time to perform house-keeping tasks like invoicing, marketing and web development. Some of these tasks might eventually be outsourced, but when you first start out, you will need some time. Indeed, you might find yourself working more than ever — even if you quit your day job to start a home business. The initial stages of a home business require intense attention and time.

3. Determination
Not only do you need to have the right equipment and time, but you also need plenty of determination. You need to be willing to do what it takes. You need the self-discipline to make yourself get up an hour earlier to work on your home business, or to look for vendors in the evening after having a tiring day at your regular job. Grit and determination are necessary if you want to be responsible for your own income. Think about what you are willing to do in order to make your home business work, and then do it. Being self-employed can be grueling at times. For many, the rewards are worth it, but for others, it’s just too stressful.

4. Insurance

When starting a business from home Public Liability Insurance can be a very important thing to take into consideration, it can be tailored to suit your needs. An example of this would be plumbers insurance. With Endsleigh this can be further tailored to meet your requirements.

What else do you need to make a successful home business?