So, do you want to earn $20,000 by Monday? These are some tips for you that could help you do just that.

1. Invest in the Stock Market

Ha, good one, right? Believe it or not, the stock market tends to recover several months before the general public starts to feel like a recession has run its course. This is because the "smart money" is accumulating stock at a good price once the stocks have bottomed, and that pushes prices back up. When the market plummets, stocks sometimes become undervalued; in other words, the fundamentals of the stock are still sound and it's a good company, but the price is now low enough that it's actually a good deal for savvy investors. Of course, it's a tall order to make $20,000 in the stock market no matter when you're trying, but after such a large drop over the past several months, when the stock market does pick up speed, it will probably go up very quickly. If you're in sound investments with enough money, so will your net worth. Cool, huh?

2. Get Rid of Your Old Junk

Did you ever stop to think that all that junk you've got lying around the house could be worth real money? You don't even have to be peddling rare 15th century paintings, either (although this certainly wouldn't hurt). There are a few excellent ideas to consider that you might not have even thought of. These include old cars or pieces of hardware that you have gathering dust. If you've waited long enough, some of them might even be considered vintage or collectible, like an old Apple II computer that you barely used. Think about holding a garage sale or using eBay to convert old furniture, clothing, televisions, used software/games, movies and books, etc. that you know you won't touch again into cold, hard cash. Most people accumulate a lot of stuff, and the truth of the matter is, you will never have enough time to use it all. If you've got enough stuff lying around, you might even hit that $20,000 mark.

3. Start a Business

Yes, this one is a little tricky, and it is probably harder to do in this tight credit market than during the boom times, but it's still a possibility to consider. What it's all about is coming up with a business model that is unique, keeps overhead to a minimum, and maximizes revenue. Then, look for a bank, venture capitalist firm, or private financier to give you some starting capital. Sure, it's "borrowed" money, but $20,000 is $20,000, isn't it? Plus, this gives you the chance to do what you really love and make a successful enterprise out of it--off of someone else's dollars!

4. Win the Lottery/Jackpot

Leave it up to fate, chance, destiny, divine will, or whatever you want to call it. If you're destined to have $20,000, there's no easier way than to scratch or gamble your way there. Before you bet all the equity in your house on a hand of blackjack, though, don't forget that the odds are sort of against you.

5. Dubious Means

These include all those iffy ways to get quick money: illicit drugs and prostitution, pyramid schemes, loan sharks, bank heists, counterfeiting, insurance fraud, embezzlement a la Office Space, and of course, the sudden, tragic demise of a rich relative who conveniently named you in his or her will. Needless to say, none of these are recommended or worth the risk, but whatever floats your yacht...

Hopefully, some of these methods will help you reach your rather lofty goal of earning $20K by next Monday. Mix and match them as you will. Best of luck to you!

Avoid repossession. Pay your car note when the payment is due. If you default for what ever reason(s), you risk loosing your vehicle and ruining your credit score.

Be advised, creditors can repossess your car without any court proceedings. After missing 1 to 3 payments, your vehicle is subject to repossession. Banks stand to take a loss as well when a car is repossessed. Creditors are willing to work with consumers. Some creditors will consider new payment schedules or rewriting the contract.

What are your rights?

Consumer protection laws were established to prevent shady repossession practices. If you feel that you've been treated unfairly by your creditor or the assignee repossessing agency, report your concerns to the Federal Trade Commission (FTC). If the person or assignee repossessing your car fails to abide by regulatory standards, call the police.

If the creditor or assignee contacts you inquiring about your vehicle, more than likely they will repossess your car within 24 hours or sometime shortly thereafter. Be advised that the creditor/assignee cannot take you car from your garage, especially if it is closed, without first obtaining your approval. When you surrender your car, you have the legal right to remove any personal belongings before the vehicle is taken.

You have the right to ask the repossessing agency to leave your property and they must do so. They cannot block your access coming or going. They cannot physically disable your vehicle. They cannot falsely represent themselves or the repossessing agency. Repossessing agencies cannot harass family members or friends. If the repossessing assignee is overly aggressive, threatening, or forceful, you have the right to demand they leave. Report the incident to your local police department immediately. This tactic is against the law and considered a "Breach of Peace." A breach of peace may be used as a defense against a creditor in a court of law.

You have the right to voluntarily return the vehicle. A "Voluntary Repossession" could lessen the burden on the creditor as well as the debtor. Additional repossession fees and any remaining debt are consolidated and will apply.

It is your right to secure the services of a credit counseling agency. Financial counseling can also be obtained through non-profit organizations that offer financial advice. If you obtain a lawyer and legal proceedings are sought, you have the right to keep your car during the legal process. Note that filing for bankruptcy after the fact (car already repossessed), but before the creditor resells your car, you still have the right to request the creditor to return your car to you.

Beware, some creditors will attempt to sell your car below market value. If this happens, you have the right to file a lawsuit against your creditor for a "Deficiency Judgment" which is the difference between the total debt you owe and how much your creditor receives after the sale. If you owed $4,000 and the creditor sells the car for $3,000, the deficiency is $1,000 which should be credited to the debt.

Know your rights. Read your contract. Understand what constitutes a default. A detailed explanation of your rights can be found in the original contract. You have the right to a copy of the original contract from your creditor if your copy was lost, damaged, or misplaced. Reviewing your contract in detail will provide you with an understanding of your rights and the rights of the creditor. Take your finances into consideration. What can afford to pay? Talk to your creditor, make arrangements, and obtain final agreements in writing.

The Federal Trade Commission (FTC) protects consumers from fraud, deception, and unfair business practices. Visit the FTC website at www.ftc.gov, or call (877) 382-4357. Exercise your rights. Consult a finance executive to consider options that will help you out of a your financial crisis. Communication is key. Consult a financial executive. Avoid repossession at all cost.

Even if, in your twenties, you manage to find reasonable rent and a job that pays enough for you to keep ahead of your bills, it's unlikely that many of your friends are in similar situations. Rather than increasing your monthly outgoings to a point where you are barely able to cover your monthly expenses through going on exciting vacations, dining at exclusive restaurants, or purchasing designer clothing - all hallmarks of a lifestyle those in their 20s aspire to thanks to glitzy television dramas and a belief in a series of economic bubbles that have burst over and over again - those in their 20s (especially in their early 20s) need to get their head on straight about having realistic expectations for their finances. In your 20s, you can't afford to squander spare cash on lavish lifestyle decisions, and that's if you have spare cash to squander. More often, the budgets of those in their 20s are stretched so thinly that they becoming normalized to paying for things on credit cards and other delayed payment plans. This is an extremely unwise decision unless someone is in a field so stable they're guaranteed of a well-paying job within a year or two, and guess what: that almost never happens.

Credit card debt can cripple someone in their 20s, and it's precisely that kind of crippling that results from living a lavish lifestyle full of luxury purchases and expenses without having the income to pay for purchases right away.

Even those in their 20s who do have good paying jobs should reconsider these unwise money choices, given that they are likely to need more money as they grow older, and those in their 20s can no longer rely on things their parents took for granted - like lifelong employment and state-funded pension and social security funds that are unlikely to be operational when they reach the age of retirement. The money put into retirement funds in your twenties is the money on which compound interest builds most effectively, and when you're younger it's easier to go without certain luxuries that become more necessary as you grows older.

Think about it this way: would you rather have a steak dinner every night when you're twenty-seven, or would you rather have enough money to heat your home in the winter when you're seventy-two? Making the decision to indulge your every whim in your 20s is exactly the kind of unwise money choice which will come back to haunt you later in life.

What are some wise choices that those in their 20s can make to help their financial health throughout their life? These may sound like simple solutions, but put them into play and see how easy it is to stick to your decisions:

1. Pay off your credit card every month. If you don't have money for it, you can't afford it. End of story.

2. Put as much as possible into retirement funds, now. You'll thank yourself when you're older.

3. Establish a savings account, and save at least ten percent of what you earn every month. Not for a rainy day, not for that trip you want to take, but for the long-term.

4. Treat yourself only when you can afford it and only when you've budgeted for the expense, not on the spur of the moment.

1. If you can avoid carrying more than a day's worth of cash at a time, DO IT. When traveling in western/modernized nations, most shops accept credit or debit cards, and while you might be charged a small fee if you use your debit or credit card outside of your country of origin, credit and debit cards are easily replaced and difficult to have stolen. Use them whenever possible, as they also provide a record of your expenses. Keep in mind that you will need to let your credit or debit card company know you plan to leave the country to avoid having their security measures kick in and prevent you from spending on your card. By calling ahead of your trip, you can notify them of your intent to travel and prevent your card from having a stop put on it while you're on your vacation.

2. Carry both local and internationally accepted currencies, but try to stick to paying with local currency whenever possible. In some African and Eastern countries, American dollars may be preferred to the local currency thanks to local stability issues, but it's never a good idea to flash your money around strangers (even when you're at home) and you should be prepared to have a few dollars separated from the bulk of your money ahead of time so you don't show off a roll of twenties to the cab driver who makes only a few dollars a week in Sri Lanka.

3. Keep your money close to your person. My grandmother used a fanny pack every time she traveled abroad - a result of growing up hearing horror stories of purse-snatchings in New York back in the seventies. It didn't make her a fashion icon, and there is some evidence that something as conspicuous as a fanny pack actually advertises where your money and passport are being stored to potential thieves, but the principle of her action holds true - don't use long, swinging bags to carry your money, and spend a few extra dollars on AAA and other travel agencies' under-clothes wallets and purses to keep your money out of sight and safe.

4. If staying with friends, leave a portion of your money in their home while you're out during the day. I qualify this with "if staying with friends" because if you're staying in a hotel there will be maids and other cleaning personnel in and out of your room during the day, and unless there's a safe where you can lock your money (and sometimes, even if there is such a safe) you shouldn't leave large amounts of cash where they could go missing.

5. Use traveler's checks wisely. It can be difficult to have traveler's checks cashed, especially in third world countries, and you must be prepared to pay a fee for doing so. However, they are replaceable if lost and since they must be signed in the presence of a teller or sales person, they are not an attractive option for thieves looking to make a quick buck.

6. Use local ATMs to get the days' best exchange rates, but also be aware that you may have to pay a fee for each withdrawal.

There are ways to get a business loan as a teenager, but young entrepreneurs might have to jump through a few hoops first. It's important to realize that by law, teenagers who are under the age of 18 are not old enough to take out a small loan. To obtain a loan, an individual must be considered a legal adult. The reason? If you sign a loan application as a minor, the loan company would be unable to enforce the contract if you defaulted and did not pay. Basically, as long as you are a minor, your signature is worthless!

But, this does not mean that teenagers cannot get a business loan. The teenager's parents or guardians could loan the money, and an informal agreement could be worked up. The parents/guardians of the teen could give the money to the teenager, who in return would promise to pay the elders back each month.

If the teenager's parents/guardians do not have cash on hand, they could get a small business loan in their names, and then pass the money over to the teen to launch the business. The same, informal agreement would need to be mocked up to ensure the teen understood the importance of giving the parents/guardians a payment each month.

As a teenager, borrowing from your family or friends is really the best bet if he or she is still of minor age. However, once the teen reaches the age of 18, there are additional options. If the teenager is aged 18 or over, there is a possibility that the young adult could be given a small business loan.

When thinking about obtaining a small business loan, it's beneficial to know what the lender looks at to determine eligibility. The lender looks at a loan request in three parts, which are nicknamed "The Three C's." They include: credit history, capacity, and collateral.

An individual's credit history details if he or she pays bills on time and includes a credit score. A person's capacity tells if that individual can afford to pay back the loan, which is determined by a paycheck and the amount of debt that is listed in a credit report. A person's collateral establishes what assets he or she has for the lender to take in the case the debt is not repaid.

Obviously, having a strong "Three C's" score is difficult for many adults, let alone a teenager that does not have much credit, capacity or collateral. So, securing a loan might be a tough job for a teen.

There are numerous lenders out there who have loose criteria for loans, and would work with a young borrower. While some lenders and private organizations are willing to grant business loans to those people, including teens, who don't have a lot of credit, it usually comes at a steep price: The lower "Three C's" score a person has, the higher the interest rate will be. Also, low scores also result in having increased down payments.

If a teenager does not have a high enough "Three C's" score to obtain a loan, he or she can always ask a responsible adult to co-sign. This would mean that the teenager's name would be on the loan, but an additional signer would also be listed. Co-signers promise to pay the debt if the original signer fails to do so.

In the end, a teenager can access a business loan, but it might be hard work! But, if a teen is persistent and is dedicated to the business idea, it just might be the start of something great.

The Basics Of Debit Cards

Essentially, debit cards are linked to a checking or savings account and are used much like a check would be. Most debit cards are used in combination with a PIN (personal identification number) that increases their security features and helps prevent unauthorized use. Since debit cards are linked and provide access to a person's personal bank accounts, they must be kept in a safe place and their PIN must be kept a closely guarded secret. In terms of appearance, debit cards closely resemble credit cards but do not always have a series of numbers or expiration dates printed on their faces.

Many people strictly use their debit cards for the purpose of withdrawing funds from a bank account. The term "debit card" is basically interchangeable with the term "ATM card" - which means "automated teller machine card." When people refer to using an ATM card, they usually mean a debit card, and vise versa. These cards are accepted not only at the bank's ATMs, but also at the ATMs of other, unassociated banks; when used at ATMs outside of their own network, though, debit cards can incur usage fees.

In addition to being used for withdrawing money from a bank account, debit cards are accepted at many grocery stores and other retailers upon checkout. Once all of the items have been scanned and a total has been given, a person can use their debit card - in combination with their chosen PIN - to pay for their purchase. This option has dramatically decreased the use of personal checks in such situations. Retailers generally prefer debit cards over personal checks as much less processing is involved from an accounting standpoint.

The Basics Of Credit Cards - And Credit Card/Debit Cards

Unlike debit cards, credit cards are not normally linked to a personal checking or savings account. Instead, they serve as a way to gain access to a line of credit extended by a credit card company. When a person uses a credit card to pay for their purchase, they are accruing debt that must be paid off at a later date; this debt also accrues interest charges and may be subject to other processing fees. By not being careful, a person can accumulate a great deal of debt very quickly by using credit cards; when the statement arrives in the mail, many people realize how reckless they have been.

Credit cards are often used in lieu of debit cards when debit cards are not accepted. Most online retailers do not provide a means of using debit cards and PINs, so people who find themselves shopping online often have to use a traditional credit card. However, one of the most popular exceptions to this problem are debit cards with credit card logos and numbers imprinted on them. These cards allow a person to use the funds from their personal checking or savings accounts to pay for purchase anywhere that credit cards are accepted.

Although a debit card may have a credit card logo, numbers and an expiration date on it, it does not cause additional debt to accrue. These products have further decreased the popularity of paper checks, and fewer and fewer people are using those items these days. Instead, the convenience of credit cards and debit cards rolled into one is rapidly becoming the preferred method of payment for millions of people.

Step 1: Choosing a Bank

Choosing a bank may be the most important part of the process. Most large cities host a number of reputable, nationwide chain banks as well as local banks and credit unions. It's up to you to decide what's important in the choice of a personal bank. National presence? If you travel frequently, you'll want a bank with ATM machines and local branches across the country. A close relationships with a personal banker? Many regional banks are able to offer a sense of "home" at their banks, with personal bankers knowing their clients by name. Special, promotional products aimed specific professions? Many credit unions offer very competitive interest rates and products -- such as home remodeling loans -- that can't be beat by larger chains.

Decide what you expect and demand from your bank. For many people, the safety of a large, national bank brand is the most important factor -- they know that their money is safe. But if you're after attractive interest rates, the largest bank chains generally cannot compete with regional firms, who many times offer very useful features on their accounts -- such as refunding ATM fees from other banks and waiving international currency conversion fees.

It's also important to consider what kind of account or accounts you'll be opening. If it's strictly a checking account, your needs will differ from someone looking to open both a savings and checking account. You might also decide to open a credit card account from a bank, but that type of account comes with its own set of concerns and responsibilities and will not be discussed in this article.

Go into several bank branches and take brochures describing the various accounts they offer. Create a list of each bank's account features and compare their advantages and disadvantages. This way, you'll be able to visually contrast each bank's feature set against your own expectations and needs. You should be able to decide which bank matches your own financial ambitions.

Step 2: Opening Your Account

Once you've selected a bank and an account type, you're ready to open your first bank account. Drive to the nearest branch of the bank you've selected and sign up to speak with a personal banker. During busy periods -- such as lunch during the week or directly after work -- you may have to wait up to an hour to speak with a personal banker. But many times, the branch where you've opened your account is associated with your account, so you'll want to open your account at the most conveniently-located branch as opposed to a branch with lower foot traffic.

There is some information that you may need to take with you to your meeting with the personal banker. A cell phone or utility bill with your current address, a pay stub from your current job, and a some sort of deposit (such as a check or cash) may be required before you can open an account. Keep this in mind.

Tell the personal banker the type of account you'd like to open. You may be required to present the information listed above, so have this ready. This part of the process is generally very straightforward -- the personal banker will input your information into his computer and should be able to get your application finished in a matter of minutes.

You'll probably be given a temporary ATM card when you open your account, but a fully-functional debit card won't come for a few days. Activating your debit card is generally as simple as checking your balance from an ATM.

Conclusion

Once you've opened your first bank account, you'll have much more control over your personal finances and much more freedom to deposit, withdrawal, and save money. Opening your first bank account is the first step to financial freedom.

The theory of coupons sounds too good to pass up. And it is ... with just a few words of warning! We'll get your hopes up first, with the good news ;-).

Coupon codes can get you some amazing discounts. From buy-one-get-one-free offers, to discounts from 5% to 80% off, as well as things that are just plain free. While the majority of Google's results for 'coupons' are American, businesses in the consumer backwoods here are starting to see the value in providing coupons online.

Just about anything you can buy online has an online coupon, for at least one particular brand, or one particular store. All you need is the magic of Google, and some time. Everywhere that you are about to buy something, and see a 'Promotional Code' field to fill in on your details form, pay a quick visit to your search engine of choice. You'll most likely get a few pleasant surprises, and if not, you've wasted nothing.

Here are some of Australia's top online coupon sites:

• Hot Dockets - www.hotdockets.com.au


• Buckscoop - www.buckscoop.com.au/coupons


• Why Pay Full Price - www.whypayfullprice.com.au


• Top Bargains - www.topbargains.com.au


• Oz Bargain - www.ozbargain.com.au

And here are some aggregated lists, with reviews of each site, for the US:

• CNET - Save some cash with these 18 online coupon sites


• Lifehacker - The Savvy Shopper's Guide to This Year's Online Deal Finders

And now for the words of warning. Don't spike your blood pressure, these deals don't come with free anthrax or anything! Here are just a couple of things to be mindful of.

The main danger of online coupons is the time wastage issue. Time is money, and if you are spending more time searching for 5% or dollar-off discounts than you are earning money (or relaxing, so you can focus on earning money), coupons become a false economy.

The second issue to become aware of is spaving. Not some exotic online privacy-breaching method, spaving is a situation where you spend on things you otherwise might not have, because of the money you are saving on them. In just about every case, spaving is not saving. It is spending! Your bank accounts will be rushing away like the Snowy River, while you believe that you're getting ahead and beating the nasty retailers, if you fall into this trap.

The third thing to be wary of, which can be particularly insidious for either your time-bank or your wallet, is the shipping fees that come with some deals. Trust me, you will find consumer goods at prices that will just about make you cry on American sites. If you try to buy them, though, all your savings are immediately eaten up in shipping. If your retailer of choice doesn't ship to Australia, you could even end up out-of-pocket through using a freight-forwarding service. If you don't buy, you've wasted quite a lot of time - if you do, you've sent more dollars than you needed to out of your own hands, and out of your own country even!

The best strategy for using online coupons is one we mentioned earlier. When you find something you were going to buy anyway has a 'Promotional Code' box, use the good old 'Goog' to see if you can find the magic number.

Debt Consolidation

Loan brokers are quite easy to find, even in country areas, and most offer debt consolidation services. They go way beyond Fox Symes - these guys are just the ones with the bigger advertising budget, and the Today Tonight factor. They can either find you a specialised debt consolidation loan, or assist you with rolling your existing debt into your mortgage for a lower interest rate and easier repayment options.

If you go for the debt consolidation option, just make sure that credit card statement doesn't begin to look like a cheque for $5,000. Remember those Looney Tunes cartoons, where the big mean bulldog would cook a roast chicken in his yard to tempt Sylvester over the fence? Well, that credit card is the roast chicken, and the bank (in conjunction with a healthy sense of greed ;-)!) is the big mean bulldog that will eat you up. Chop up your cards if you consolidate debt.

Debt Settlement Companies

What really happens, is that the first few payments go straight to your debt settlement company. The next payments will begin accruing in your account with them, while they wait for your debt's age to pass six months (or a certain allotted time, depending on the state you live in). After this time, your account will be 'charged-off', and can be settled at a lower rate by companies that would rather take ANY money than go to the hassle of repossessing things or going to court.

These charge-offs and the late fees are recorded with credit reporting bureaus, which makes it inordinately hard to get credit anywhere - even for a toaster on an interest free plan.

Also, in some countries, any charge-offs are considered income to you, and the government will tax them.

Consumer Credit Counselling

If you have a great idea of how to spend money ... just not on paying off your debts, consumer credit counselling is like manna from heaven.

Online Advice

Bankruptcy

Saving Money on Your Grocery Bill

• Peel your bananas before you get to the checkout. The skin is the heaviest part, after all ... and you just throw it away!


• Do the same for oranges. Why pay for something you won't use?


• Mints cost a fortune at the supermarket. Make your own by drying blobs of toothpaste on the windowsill. Striped toothpaste will make humbugs! If you're an absolute fanatic, you could spit your toothpaste into a cup and leave to evaporate before trying the above. It's only your own saliva going back into your mouth, after all...


• Got a hankering for some toffee? Mix up half a cup of tea and half a cup of coffee. There you go!


• Get two bottles of dishwashing liquid for the price of one by putting one in your trolley, and the other inside your jacket. It's almost too easy! (See disclaimer before trying ;-) )


• With tax hikes on alcohol it is getting more and more expensive to have a little fun on the weekend. You can at least get the same 'morning after' feeling by simply drinking cold tea instead of beer, then drinking a thimble full of washing up liquid and falling down your front stairs. (See disclaimer again!)


• Expensive takeaway peppermint cappuccinos can easily be replaced by brushing your teeth in a cup of Nescafe.

Saving Money at home

• Why light up a whole room, when you only need to see a small piece of it at a time? Miner's hats are a great way to save money on your electricity bill.


• Paper shredders to prevent having your identity stolen are expensive - but you can re-create the protective effect by simply putting the dog poo and the bank statements in the same bag!


• There's no need for a washing machine, dryer, or the electricity to run them anymore with this tip! Simply give your dirty clothes to an opportunity shop. They'll wash and iron them, and you can buy them back for fifty cents each.


• Looking for something to do? Jigsaws are expensive, but you can get just as much enjoyment by buying a packet of frozen chips and trying to piece the potatoes back together.


• Save on personal address books by simply crossing out the names of everyone you don't know in the phone book. Cheap and thorough.


• Heating is one of the average household's biggest electricity consumers. Whenever you feel cold inside your house, just pop outside for ten minutes. Then you'll really appreciate the temperature inside. Also works quite well on complaining kids ;-)


• Burglar alarms and monitoring are completely unnecessary if you simply move everything in the house into the bedroom before you go to bed. In the morning, just move it all back! Also saves on gym fees.


• It costs money to get rid of old tyres, but you have a double whammy of savings if you simply burn them in your fireplace to heat your house! (Disclaimer again :-) )

Save money out and about

• Binoculars cost a fortune - and are simply not needed! Stand closer to the object you wish to view and you can sell those old looking-glasses.


• Change your name to match your current car numberplates, and you have instant personalised plates!


• iPods are a big investment, and the kids have no doubt been hassling you for one. Simply tell them to think of a song they like, and hum that for the same effect. If they want to listen to something else, just hum another song.

For example, if share investors get their knickers in a collective knot (nice image, hey?!), and start to panic about the state of the market, company values go down. No physical change, only an intangible one - but a very real financial effect.

In the same way, you can actually go a long way towards fixing an adverse credit rating (which might be stopping you getting a car, a home, or any other type of loan), simply by doing a little paperwork. There hasn't been a physical change in circumstances for you - but now you are able to get a loan, where you couldn't before. It's like some sort of magic!

One usual way this works is that you would approach a lender other than your own (often through a mortgage broker), to buy your mortgage from your current bank. That is the 'remortgaging' part - you've just re-created your mortgage elsewhere.

If you have a bad credit rating, you may be able to have your new lender loan you the entire value of your home, including any repayments you have already made, using the property itself as security (just as you did at the start of the mortgage). This allows you to pay off whatever debts were being mean and nasty to your credit rating to begin with.

Remortgaging mat also allow you to reduce your monthly repayments, especially if you used to have a bad credit rating, but it has improved since you took out your home loan. Typically, lower credit scores for applicants translate to higher interest rates for your loan. If your credit situation has changed, remortgaging could save you hundreds or thousands of dollars in repayments per year.

Taking out a bad credit mortgage usually offers you a lower repayment schedule (as the loan is at a lower interest rate), however it is taken out over a greater period of time. They aren't really giving you sumthin' for nuthin' ... your total repayments over the life of the loan will likely be bigger, since the term is longer. However, you do have a more manageable solution in the meantime... and you can always change your loan again when your circumstances change.

It is advisable that you use a mortgage broker to find yourself a bad credit mortgage, or any sort of remortgage. They can quickly and easily figure out the net gain or loss to you, factoring in early repayment fees, break costs, and different interest rates.

Mortgage brokers can also help you find the lender most likely to take you on - every time you apply for finance and are rejected, this goes on your file. Nasty, isn't it! Specialist advice can help you jump over that little pitfall.

Don't think of bad credit mortgages as free money or a catch-all, though. You'll still need to:
• Provide proof of income and outgoings
• Have enough equity to cover debts that you are consolidating
• Be able to afford the new monthly repayments

We realise that any attempt to answer this question for you, specifically, would have to come with a Product Disclosure Statement ... so we'll give you some general comparisons and contrasts for the two types of investment.

The first thing to understand is that as the market changes, the numbers do too. You can pay investment managers to keep track of which is ahead currently for you, or do the hard yards yourself for a bigger return, as is the case with many things.

Returns
Returns for shares and property vary widely. Wider than the current budget deficit! Most investors can safely assume that over a 20 year period, blue-chip stocks and property will return roughly the same amount of cash.

ASX investment data on returns showed that for the twenty years to the end of 2006, Australian shares averaged an 11.1% return each year, while Australian property averaged an 11.7% return each year.

Over the ten years leading up to 2006, the same ASX data showed that shares yielded a 12.8% return, while property gave a stable 11.7%.

Liquidity
How easy is it to turn the cash that you've changed into intangible tiny company bits, or into an apartment block, back into cash if you need to?

If your investment strategy (or just your life strategy!) depends on flexibility and fast response times, shares will always be the winner. Property may be more stable, but can take months, or even years, longer than shares to turn it back into cash.

However, investment advisers do note that the flexibility that shares bring can promote riskier, and lower-returning behaviour. Less portfolio trading often equates to better returns in the medium term.

Physical versus mental investing
Property investment means that you have something real, that you own - with share trading, you are buying the rights to a certain portion of a company's assets. Those assets are much less tangible than Jennifer Lopez's - they include ideas, strategies, policies, human capital and patented processes. And all of these assets are much less stable than a house.

Diversity
Shares offer you a much more diverse investment for the same amount of money - and in that way, do go some way towards mitigating risk for the period of the investment.

If you really want to get on board the diversification conga line, though, your portfolio should consist of a percentage shares, and a percentage property.

Borrowing costs
The cost to borrow for property is much lower than it is for shares. If you aren't using your own money to invest (which is actually a wise decision), your costs will be slightly higher to maintain a share-based portfolio.

Different types of risk
Shares are generally seen as the riskier option when it comes to investment, albeit the one with the greater potential to deliver returns. What often doesn't enter the discussion is the fact that interest rates can rise as sharply as a company can crash and burn. Under Howard and Costello, the economy was especially vibrant, consumers were credit-card happy ... and interest rates went up to curb inflation. If interest rates jump as they did in 2007/08, your mortgage liability jumps along with them. And if you are maintaining your own home, and one or two investment properties, you'll feel like your wallet has gone a couple of rounds with George Foreman .. and not a couple of rounds of dinner-making, a couple of rounds of boxing!

Before we begin the article, I should just reassure you that none of the policies we'll be discussing are for certified mental hospital patients only! As well as having a bit of fun doing it... here are some of the strangest things that Lloyd's of London has insured against:

• Lloyd's created a 'Happiness Policy' for a model who was worried about worry lines developing on her face. Taking out the policy directly helped ensure it wouldn't need to be paid out ;-D


• Policies insuring against the possibility of having a twin rather than a single pregnancy


• Lloyd's created a policy whereby the insured would be paid $22,400 in the case of Sputnik falling on top of them, causing their death


• Flamenco dancer Jose Grieco insured his specially created trousers against splitting - the payout was $980 per pair


• Jennifer Lopez's rear end is insured for $1 billion ... but not by Lloyds.

Now that you are reassured that the insurance types available in Australia are all wholly sane (if sometimes a little pricey!), let's check out what is necessary and what is not.

Pet insurance
If you have a pet, you probably know the unexpected pain of vet bills. They never come at the right time, and are always twice what you expect ... always.

Which makes pet insurance one of the more sensible forms of crazy insurance around. Some estimates put the worth of pet insurance in Australia at between $2,000 and $6,000 over the life of your pet. Here are the factors that make pet insurance more valuable:

• Having a pure bred pet - pure breeds are more prone to disease and in some cases, injury


• If you have pets prone to fighting


• If you have two different types of pets, one of which is the natural food source for another :-)


• If you have pets with a shorter life span

That said, you do need to weigh up excess amounts for the particular policy you take out, and also consider whether you would be better off putting the money that you would have spent on insurance into a high-interest (no withdrawal) savings account ... which would let you use the money to go to Hawaii in several years time if it isn't needed.

Body part insurance
Body part insurance has an exotic sound to it - and it is quite a little-known product. To the extent that if you are looking for body part insurance, you will probably be referred to a specialist overseas broker, and will most likely end up with the same firm that insured J-Lo's bottom.

Specifically insuring certain body parts is often done when they affect your earning capacity. However, while most of us depend on our hands to work, insuring them (or any other necessary part) via body part insurance is a costly solution. Worker's compensation, dismemberment and disablement policies, and employment insurance are much better alternatives here in Australia.

In addition to these types, have a think about getting trauma insurance, which will cover you for acquired conditions like blindness or loss of speech. If only I could get insurance for the trauma I experience every time my in-laws visit...

Kidnap and ransom insurance
For the average Joe, not necessary unless you plan to travel to South Africa, or other strife-torn countries. For celebrities or wealthy people, this is invaluable.

Expatriate insurance
If you are considering moving overseas, taking out expatriate insurance is advised. Many insurance companies will not insure non-citizens or non-residents, so if your trip is outside the scope of normal travel insurance, it is an excellent idea. Totally different from other forms of 'Ex' insurance, which covers your car against being keyed and your home against being toilet-papered ;-)

Wedding insurance
Even if you know that your fiancé/e is not the type to leave you standing at the altar, big weddings can be subject to big loss through any number of adverse circumstances. Bucketing rain is a common fear ... what if rental tuxedos are damaged, if you are not able to make it to your ceremony place and need to rebook at a cost, or if some sort of damage occurs at your reception venue?
If you have to cancel or postpone your wedding for any reason, wedding insurance can help pay that myriad of deposits ... and go some way towards reducing your stress levels!

That was a big 'but', wasn't it ;-). Speeding fines aren't just something to lie down for, and brace for impact. Sometimes you gotta get in your corner, lace up your gloves, put on a mean look and get in the ring!

If your alleged speeding offense was only for a few kilometres an hour over the limit, or if you don't believe that you were going as fast as your fine says, or if you weren't the driver, don't run for your wallet just yet.

Technology is not always perfect, which is why police generally give a little leeway on speeding offences. You will hear different figures, depending on how many beers the expert you are talking to has downed, and whether you are at a family barbeque or the pub, but in the past, in some areas, you will get a 5% leeway. This means that if the speed limit is 100km/h, you may be able to go 105km/h without getting booked.

Now, they give you this leeway for a reason - because technology is imperfect, and if you take that ticket to court, there is a high likelihood you'll get off. If you were only going a few k's an hour over the limit, we recommend looking at that tiny 6pt writing at the bottom of your Notice of Infringement as soon as you get it, and taking the recommended steps to contest it.

Do keep in mind, though, that depending on your state, an $80 fine can turn in to a $2,000 number if you fight your speeding ticket and lose. So make sure you have good cause for fighting it, not just for the sake of children everywhere that don't look before they run to get their balls.

Another good reason for fighting your speeding tickets is an exposé that a popular current affairs show in Australia did. In this case, police were (allegedly) misusing their own equipment in order to get higher readings from motorists, and boost their infringement rates. Not exactly cricket, is it?!

If you don't believe you were going as fast as the speed camera says, we advise you to fight the ticket also. However, keep in mind that your claim will be harder to prove - dodgy cops may be dodgy, but they aren't always dumb. Get professional help in this case - Scott Cooper is a self proclaimed speeding ticket-boxer. You can get in contact with him at Speeding Fine Consultants.

You know all of those dirty tricks that police use to catch you speeding - hiding in driveways, behind bushes, and around bends? In fact, in most cases, this is against their own guidelines. Speed cameras are not supposed to be concealed (hidden behind bushes, etc), they should be used from fully marked police vehicles, they are not allowed to operate on hills or bends (presumably because of initial acceleration to get up a hill in the first case, and difficulty getting an accurate reading in the second), and they are not supposed to take readings from vehicles head on, only from behind.

If you've been snapped in any of these cases, it may not be fair that you have to pay a fine, or your reading may not be accurate. The first thing to do is check your actual speeding notice - they all have instructions on what to do if you don't believe the penalty is fair. There will often be a short form on the back to fill out and return to the traffic department in your state - do that promptly, and the court will take a better view of you.

• Your job is replaced by technology
• Your job, as it used to exist, no longer does because of a restructuring
• Your employer can't afford to employ you any more