One Good Option:

In order to get out of your debt related issues, you can always consider using the option of debt consolidation. Basically, debt consolidation is a process that allows you to combine your several smaller debts into one single debt. It means you don’t have to worry about making different payments to different creditors. Sometimes, it becomes difficult to get out of debt because most people cannot find a way to keep track of their monthly payments. When they decide to consolidate debts, they have to make payments to only one creditor, making it easier for them to maintain a record. Moreover, using this option is a good idea because it allows you keep a set amount aside for monthly payment, making it possible for you to manage your day-to-day needs in a better way.

Some Myths and Facts:

Like all other methods available to get you out of your financial crisis, debt consolidation has some myths and facts. Actually, some companies exaggerate a bit when they promote their services. That’s why people tend to have some misconceptions about this particular method. For instance, many believe they will be able to reduce the interest rate to less than half of their current interest rate. Well, that’s not true, because this is not how consolidation works. You have to pay all your debts but in an extended time period. Due to this extension, you end up making lower payments each month.

Speaking of facts, many people think debt consolidation will have an impact on their credit score. Now, the thing you need to understand is that if done correctly, you will leave your credit score unharmed. If use correctly, this option will actually improve your credit score because you will actually be paying some money each month.
Another misconception is that this method is not going to help at all because you will be taking a big loan to pay off your smaller loans. Of course, that is the case, but this loan works differently. It is so because you will now be making a lower monthly payment because the new loan will be available at lower interest rate, for a longer term.

The crux of the matter is that though debt consolidation is not something that keeps you from repaying your debt, but it still helps in an enormous way. It shows you a way to keep making payments, because that’s the only way to get rid of your credit issues.

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The introduction of debit cards from MasterCard and Visa are gaining in popularity. These cards are not to be confused with credit cards; they operate on the simple principle that if you have money in your checking account, you can shop and pay for the stuff you buy using your debit card. In this way you don’t owe money and are not increasing the burden of debt.

One major advantage of the debit card is that you don’t have to carry around a big wad of notes. You just carry your card and swipe it when you make a purchase. Your checking account is immediately debited for the cost of your purchases.

It is important to be aware of the riskiest places to swipe your debit card and you can make use of the information below to protect yourself from debit card fraud.

ATM gas pumps: It is recommended that you use a credit card to pay for the gas you buy instead of your debit card. Fraudsters use a technique called skimming to locate and steal PIN numbers and then take money out of your checking account.

Choose credit cards over debit cards: Research has shown that it is far better to make purchases using your credit card and pay off the full amount each month, rather than using your debit card. While a fraudster can still misuse your credit card information, the bank or issuing agency insures your account against fraud. In the case of debit cards, the money goes directly out of your savings account.

Overdraft protection: you would be wise to deactivate the overdraft protection option that links debit cards to savings accounts. If you have a large amount of savings in your account, even the bank will advise you to de-link your savings account from your debit card. You can always open another savings account with a small balance and link your debit card to that account. This is useful if you plan to take an overdraft because it avoids you having to pay overdraft fees. If you don’t need it, don’t take it.

Avoid the non bank ATM machines: choose only ATM machines that are attached to a bank and protected by security. Isolated machines found at supermarkets and fairs among other places are dangerous and more vulnerable to fraud.

The main disadvantage in using debit cards is when a fraud happens and money gets stolen, the money comes right out of your personal account. In the case of credit cards the money is being stolen from the Credit Card Company or bank. With debit card theft, the bank will charge you an overdraft charge if the amount of money taken from your account exceeds what you actually have.

Bad Credit? No Credit? Get a Prepaid Visa RushCard

The demand for gold continues to rise, in the main because the prevailing economic conditions continue to fuel inflation and the devaluation of our paper currency. Gold on the other hand is enjoying a long run of ever increasing prices and is on the threshold of breaking all records as far as price is concerned.

If you want to buy gold online there is no difficulty whatsoever in doing so. With the increasing popularity of gold, the methods by which you can buy gold online are becoming increasingly easy.

The following guide will be of great help to you when you set out to buy your gold online.

You have a number of options to choose from in terms of how you wish to buy your gold and each of them comes with their own pros and cons. Your options include:

• Buying physical gold from a gold dealer online – even eBay sells gold and the seller you buy from will arrange for the delivery.
• One of the safest ways in which you can buy gold is from the American Precious Metals Exchange or AMPEX. They sell gold coins, bars and rounds.
• Buy gold online as you would buy stock.
• Gold futures are another option – you are basically purchasing the right to buy a specific amount of gold at a pre-determined future time and cost.
• Buy shares or ownership in a company which will store the gold physically for you and give you a certificate of verification of ownership.

Your investment in gold gives you a highly liquid asset that can be converted to cash at any given time. The reason gold enjoys high liquidity is the ease with which it can be bought and sold. Being a physical commodity that you can actually see, feel and store it provides the investor with a higher level of security.

It is always advisable to do through research and fully understand the concept and how to buy gold online before you actually start making purchases. You have to understand all there is about quality of the gold and the value of the gold, which is determined by the number of ounces it contains.

When you are fully conversant with the ins and outs of gold buying and have decided on the type of purchase you will make, you can begin your search for online sellers. Make sure you check the authenticity of the seller, read reviews and join forums to get your information. Another place to do some checking would be the government mint, which can provide you with useful information.

Make sure you understand all the factors that impact the valuation of gold bars, coins and rounds. The more gold contained in the item you buy, the greater the content value of the item.

With the explosion of the internet into our world it was inevitable that sooner or later the fraudsters would start their exploits in this area as well. It is very important that every person who uses an internet bank for their financial transactions are aware of the dangers that lurk.

What is internet banking all about? It is a facility provided by your bank that allows you as an account holder to access your bank account online using the internet. You will have to log on to your bank’s website and then input a user name and password to gain access to your account.

There are many advantages to using internet banking. For starters you no longer have to battle traffic to get to your bank, only to stand in a long queue to make your payments or transact your business.

You will find the following guidelines useful in combating internet bank fraud to protect your online identity and your money.

When opening a new internet bank account, the first thing you need to do is change the password that is given to you by the bank. You can do it either through phone banking with your bank representative or through the internet from inside your account.

Do not make the common mistake most people make and save your passwords on your computer under a file titled ‘Passwords!’ Make sure you know how your bank protects the internet bank accounts of its customers. You also need to know what action to take if you believe your account has been breached; how to change your password periodically and who to contact if your account gets locked. Ask as many questions as you can to arm yourself with information to guard against theft.

When creating a password, make sure you create one that is very secure. You will be shown the strength on the computer when you enter a new password. You have low, medium and strong passwords. Mix up lower and uppercase letters and use numbers as well to get the maximum strength password. These passwords are harder to figure out by the fraudsters. Most people choose their date of birth or a spouse’s date of birth to make it easy to remember. Big mistake!

The trick is to create a password that you will be able to remember and at the same time will be difficult for some one to figure out. Do not store passwords on your mobile phone or PDA or even in your wallet. Just imagine if you lose your wallet, you have lost your bank card and given the thief your password on a platter!

You should make use of this information to safe guard your internet bank account.

With the internet growing in popularity until we have reached a stage where most people cannot do with the internet, having an online bank account is now very common. In fact, most people are aware of online banking which only offers an online presence. Though people are aware of these banks there is an element of fear which holds them back from actually setting up an account. Some people cling to their orthodox ideas and want to see brick and mortar structures before they will transact their business. This article will help you shed your fears.

How will using an online bank benefit you? You will find detailed below some of the advantages to be had by using online banking.

One of the main reasons why you should use online banking is that you get a better rate of return on your money when compared to any of the standard banks. This better rate of return holds good for checking accounts, savings accounts and deposit certificates as well.

Your savings bank account often gives you a good rate of return when compared to the rate offered by a traditional bank on deposit certificates; the reason being there is no loss of liquidity. One simple reason why the regular banks cannot compete with online banks in terms of rates offered is the high overhead costs they have to bear for a physical structure among other things.

Your online bank fees will be either very nominal or you will not have any fee charges to contend with at all. Another benefit from your online bank is the insufficient fund (NSF) charges. These banks are rather lenient in this regard and do not charge a very large amount when your account is overdrawn. Regular banks on the other hand make a lot of revenue from overdraft charges and if you don’t have a decent bank balance, you will end up paying them to keep your money!

You can operate your online bank account from the comfort of your own home and access your account at any time of the day or night. Transfer funds or receive funds round the clock; a very useful feature if you have clients in different parts of the world.

To everything there are two sides and it is the same with online bank accounts. You have disadvantages as well to balance out the advantages. Let us see what sort of downside you can expect with your online bank account.

In order to successfully operate your online account and take full advantage of all the benefits you should have an internet connection and be proficient in the use of computers. Fraudsters and internet hackers are a serious concern along with identity theft. Changing banks can also be quite a chore for online banking. Finally, you will have to deal with the tedium of mailing your checks to your online bank account.

Even if it seems like a lot of work to set up your online bank account, most people who are not resident in the US but get paid by their US clients will need to have an account and this is a good option.

You will need to provide two types of identification that has a photograph; one can be your passport and the other may be your driver’s license or even a student card, if you are a student. There are banks which may ask for a social security number; however, this is not a mandatory rule and will vary from bank to bank. Often the bank authorities can waive the requirement and open the account for you.

Other types of documentation that you will need to provide include proof of residence. This proof has to be for your present residence only and cannot pertain to some previous address you once lived at. In addition to all of the above, you will also have to fill out the necessary forms that the bank will provide.

Opening a US bank account with an international bank having branches inside America and your own home country may be an easier option. Have you already got an account with an international bank? This will simplify matters greatly and allow you to access the services that you bank account provides you in America without even having to open a new account.

If you are on a work visa sponsored by an international company, you will receive all possible guidance in the setting up of a US bank account. You will have to acquire a Social Security Number and this can delay your access to funds for up to a whole month. If you are going on a work visa, keep this in mind and make alternate arrangements for that first month or you will be penniless in America.

In reality there are very few banks which can actually manage US non resident bank accounts. International banks like Bank of America, Citibank and HSBC are some of the few banks who do. There are financial institutions or non-banks which can offer accounts. Savings and loan companies, brokerage houses and credit unions for example.

To summarize, the way forward to opening a non resident US bank account will require you to produce two sets of photo identification that has been issued by the government. You will have to fill out the W-8 form to declare your non residency in the country and provide proof of a permanent address, which should be an actual street listing and not a post box number. You will also have to fill out a vast array of forms for submission.

US non resident bank accounts cannot be opened through the internet so forget that notion. Once you have your bank account you can begin to build your credit rating, which will open doors for you to acquire credit cards and personal loans.

Today, government agencies can request information on suspected people and get the offshore banks to provide information. However, the offshore banks still provide the highest level of privacy for their clients.

Let us begin by understanding what offshore banking is all about and how it can be advantageous to you. Offshore banks are located in countries that have rather low tax restrictions and very discreet privacy laws. Some of these countries include Switzerland, the Cayman Islands, Luxemburg and Andorra.

Some of the advantages to be had by choosing to bank with an offshore financial institution may be summed up to include: high level of secrecy and privacy laws; extra leniency with regard to tax laws and no tax rates and the discreet and very easy access clients have to their accounts.

Many companies make use of offshore banking to register their companies in these countries to make the most of the tax rules governing banking operations. In this way companies are able to lower their tax liabilities considerably.

While there are many advantages to be had by opening an offshore bank account, these places have gained a reputation as tax havens. They have been widely used for money laundering, terrorism funding and by organized crime. In order to get into one of these banks you will have to literally pay through your nose, the fees are sky high. For this reason the average depositor may not be able to open an offshore account.

When opening an offshore bank account, you need to have your wits about you and do a lot of research. The reason is there are many scammers out there just waiting to take your money! The majority of banks is stable and has rules that are custom made to suit their clients’ requirements.

A prime benefit to owning an offshore bank account is that your tax liabilities are greatly reduced and your account is maintained in a very safe and confidential manner. Your offshore bank account should be a shelter for your assets and funds and will be kept confidential so long as you are not involved in any illegal activities.

If you find a highly reputable online bank to transact offshore banking operations, you can check your account and balance, move funds and more, all from your own home. Furthermore, when you transfer money online you do not lose out on any of the privileges afforded to people who use regular bank sites.

Before you deposit the money, check out the bank thoroughly to make sure that your offshore banking experience is a good one. These banks are known to keep funds safe in times of economic crisis, political upheaval and civil problems. Even if the earth caves in your money is safe!

A debit card is also known as a bank card and is used like you would your credit card. However, there is a distinct difference between the two cards. When you use your credit card to pay for your purchases, you are paying by credit and have to repay the money to the bank or Credit Card Company on a certain date each month. On the other hand, when you pay for your purchases with your debit card, the money is taken directly out of your checking account or savings account.

Now, the concept of a prepaid debt card is slightly different from the regular debit card. These cards are also known as re-loadable debit cards. You have to load funds to the card to be able to use it. This method is popular with online companies like Freelancer.com.

People who operate on a freelance basis find this system extremely useful. The prepaid debit card can be used online to make payments and also offline to withdraw money from ATMs. Many US based companies who make large amounts of payment to recipients overseas use these prepaid debit cards to ensure prompt delivery of payments.

The present cash strapped economic conditions are causing many people to get rid of their credit cards and live on a ‘cash only’ basis. You have money you buy, you don’t have money don’t buy!

Right! You have cut up all your credit cards and decided to pay as you go, very virtuous indeed! What do you do when you have to produce a credit card, for example to book a hotel room for that special weekend trip you’ve been planning or to rent a car because your car suddenly broke down? Quite a challenge! However, there are alternatives and the prepaid debit card is one of them.

Prepaid debit cards offer options for those who prefer not to go the credit card route. Let us take a look at some of the advantages associated with these cards.

• The main advantage is, the card will not work if there is no money, hence you don’t shop unless you can afford it and the money is in your checking account.
• Using your debit card is as good as paying cash up front and this will make you think more than a few times whether you really need something.
• The cards come with either the MasterCard or Visa logo and are accepted virtually anywhere.
• You can do a direct check deposit onto most prepaid cards, which saves you time and the hassle of going to the bank and standing in a queue to deposit your check.

Personally I use a prepaid debit card and don’t miss not having a credit card one little bit! Try it and you will find yourself debt free, shopping only for what you need and saving money to boot.

There are banks which will allow you to open an account with a one time fee of USD 300.

The features that you will enjoy are the exact same ones that a US citizen enjoys. These features that you will enjoy when you open your bank account include:

• Your bank account will be a hundred percent legal and valid in a US bank.
• You will have complete internet access and online support round the clock.
• You will get access to withdraw your money from anywhere in the world through ATM machines.
• You will be given a free Visa card.
• Some banks waive the annual fees
• Your money in the account will be FIDIC guaranteed up to $100,000.
• You will receive a check book, which means you have the authority to issue checks.
• Some banks do not require you to produce a Social Security Number but be aware that most banks do require one.
• Just mail your US checks to your account quite easily.
• Your passport is a valid proof of identification that you can produce.
• It is not mandatory to keep a minimum balance after you have made your initial deposit, but this rule varies from bank to bank depending on individual bank policy.

If you need to receive payments from US clients or customers, you can receive wire transfers worldwide. In this way you get your money extremely quickly. You can also make transfers from your PayPal and other accounts and then withdraw the money using an ATM machine most anywhere. You are also allowed to make investments in various American and international companies and shop online at any establishment that accepts Visa card.

The bank will send you a set of forms that you need to fill out and then courier the completed set back to the bank. From the time of receipt it can take anywhere from one week to a month to process your documentation and open your account. The bank sends you email intimation once your account has been activated.

Payment to open the account will be sent only after the bank sends you the account number and documentation. You will also receive a password to be able to access e-banking online.

Your payment can be made from your PayPal, 2Checkout, Stormpay or other accounts that have ACH transfer. Alternatively, you can also mail a cashier’s check or personal check to the bank. Once your account has been activated, you can deposit checks of all types, bank wire transfers, foreign checks, ACH deposits and more.

One main advantage that you will enjoy with your US bank account is the FIDIC insured bank deposits up to a ceiling amount of 100,000 dollars.

Investing in gold can be either in allocated gold or in unallocated gold the choice is yours. Before we go any further let us understand what these two terms mean and what benefits each type of investment provides the investor.

Allocated gold is gold owned by the investor outright; you can also have an allocated gold account. Small investors usually invest in gold bars or coins and the big time investors generally opt for the 400 ounce gold bars. Account holders are required to pay storage fees and often insurance fees as well.

How it works is the serial numbers on the gold bars or coins are registered to the account holder’s name and the holdings are secured. As an account holder you have the right to take the gold in your name out of the account at any time and ship it to anywhere you want.

An unallocated gold account is completely different from the allocated gold account. As an account holder you don’t actually own any physical gold; your investment relates to value backed by gold that is kept in storage by a bank or company. A kind of gold trust fund if you will.

This gold is traded on the exchange and is not secured to the account, which means that ownership guarantee does not exist. As an account holder you have only a general entitlement to the gold because specific bars or coins are not allocated to you.

The unallocated gold account is the cheapest and also the most convenient form of investing in gold. It is also a method that is quite commonly used by investors. You cannot redeem unallocated gold since none of the gold is actually owned by you to begin with. Account holders are like ‘unsecured creditors’, which can be rather risky.

Unallocated gold account holders are in effect lending money at cost to a company that makes a promise to back the funds by gold with the price linked to the gold prices. That’s as far as your gold owning goes really! These companies are not bound in anyway to hold the gold for the account holders and can and do use the gold elsewhere. Further, the company may not have sufficient gold to back investments made by all the account holders.

When you consider all of the above, the conclusion would be to opt for allocated gold where you actually buy gold and have the physical gold stored for you. With this option you can choose to buy small bars or large ones depending on your financial means. Buying unallocated gold means buying only a piece of paper backed by the value of gold.

While the choice is yours, it is recommended that you choose allocated gold when investing in gold.