I was just reminded today that the government is taking a lot of steps to make your home affordable.  If you bought your home before the recession and are paying high mortgage rates, you might qualify for the government’s making home affordable programs.

My sister emailed me today after having some success investigating a loan modification for her home.

Here’s what she had to say:

We called my mortgage company yesterday to inquire about a loan modification (and I’ve been reading online about government assistance programs). I didn’t think we’d ever qualify since we don’t have an economic hardship or have missed any payments.

It turns out there are programs out there for people like us – current on our loan payments, have a house underwater, etc. We qualify for a program called HARP and our mortgage company participates in it. Basically, they are allowing us to refinance our house to a lower interest rate even though our house is underwater, without having to put more money into it (we don’t have to have 20% down payment on the current home value). The initial rate they offered us was 4.625% for a 30 yr fixed, 0 pts, $3000 closing costs, which is almost 1.5% less than our current rate, and will reduce our payments by over $500/mo.

They also have rates for 25 yr fixed, 20 yr fixed, etc. Your principle will remain the same. I’m going to shop around other lenders who offer HARP to see if I can get a better interest rate. You aren’t obligated to go with your current mortgage servicer. The only thing is, your current loan has to be backed by Fannie Mae or Freddie Mac. There does not seem to be a credit score minimum or an income minimum, but you will need to be able to afford the new refinance payments.

You can find out if your current loan is backed by Fannie or Freddie by going to this website:

http://www.makinghomeaffordable.gov/tools/does-fannie-or-freddie-own-your-loan/Pages/default.aspx

Here’s the website for the different gov’t assistance programs:

http://www.makinghomeaffordable.gov/programs/lower-rates/Pages/default.aspx

Here’s a good blog I found on the current HARP changes:

http://themortgagereports.com/259/harp-making-home-affordable-guidelines

A better program seems to be FHA-Short Refinancing program, where they will reduce your principle to 97% of the current home value AND give you a lower rate. But that one seems harder to get. Not all lenders will participate in that one. You’re only eligible for that one if your loan is NOT backed by Fannie or Freddie. I’m not sure what else makes you eligible – ?economic hardship?

Wish I knew about this back in 2009 when the program started. dang it! Maybe you should post it on Riches’ Corner.

Will do!

This is awesome advice for anyone who is a homeowner.  Interest rates are at all time lows.  So, if you are able to refinance to a lower interest rate, it may be a huge money saving move for you.

With all the new programs for making your home affordable, you should definitely give your mortgage company a call and see if you have any options for lowering your payments.

Making Your Home Affordable is a post from: Riches Corner | Money Talk

Making Your Home Affordable Riches Corner | Money Talk - Saving, investing and making money with technology.

While businesses increasingly understand that having a strong social media presence is important to success, most still don’t fully understand how social media can translate to increased business performance. They know they should invest in social media accounts and building a well-branded social media page on the most relevant sites, but they don’t have the appropriate strategies in place to convert followers or fans from various social media sites to customers or clients.

Marketing professionals and business owners and operators often look for examples of real business successes from other organizations that have used social enterprises to positively impact their bottom line. In researching success stories, what you’ll find is that businesses that have used social media to affect positive results in overall brand success are those who understand that strategy is the key component in the equation.

You must view social media for what it is: a tool to be used strategically in business operations. Social media platforms are not the end in and of themselves. They are simply a means of achieving well designed and strategically planned business goals. Without having a strategy in place for accomplishing larger goals through the use of social media, or any other tools for that matter, you will not see the degree of success from your investment in the process that you need.

In other words, strategic business planning, goal setting and the identification of processes through which goals can be achieved, the time, energy and resources you invest in your social media marketing activities will only take you so far.

Those businesses that are successful social enterprises manage to use social media in a more productive and more targeted manner. They integrate social media activities into a larger, overall business strategy and do not see social media success in terms of building only a fan or follower base. While increasing the number of “likes” your business receives on Facebook is a legitimate goal, it is a soft metric, or one that cannot be tied directly to the bottom line.

In order to fully take advantage of social media to increase sales, drive stronger brand awareness or acquire new customers, you must recognize that social media is simply a technology. Just like any other technology, it is how you use it that matters. Simply having the technology at your disposal is not enough. You must devise methods for strategically putting that technology to work in the achievement of hard metrics and well-defined goals.

Utilizing social relationship management software in your social enterprise activities is a method of getting more useable analytical data from social media activities. Stronger metrics provide you a means of targeting better goals for converting followers on Twitter or fans on Facebook to customers or clients. You’re able to strategize with more information at your disposal and develop better ways of directly engaging your consumer demographic.

By having clearing analytics at your disposal, you can test your social media initiatives. You will be capable of more clearly linking social media investments to increases in sales or to the achievement of higher conversion rates with website visitors to your business domain.

The Importance of Business Strategy in Social Media Success is a post from: Riches Corner | Money Talk

The Importance of Business Strategy in Social Media Success Riches Corner | Money Talk - Saving, investing and making money with technology.

Today we briefly touched a precarious economic milestone. The Dow Jones broke the 13000 barrier for the first time since 2008. Is this a sign of economic recovery or false hope?

News of the Greece bailout briefly bolstered the US stock market today, pushing the Dow above 13000. This last year showed an inkling of a possible economic recovery as the stock market showed improvement.

Tech stocks appeared to be fairly bullish as well. Apple stock hit an all time high, breaking 500 recently. While, in my personal portfolio, Intel seems to be starting to look up.

However, how good is this news? I’m still waiting for the other shoe to drop on the housing market as the remaining balloon payments on the adjustable rate loans come due. Perhaps that can be stayed if we are able to push lenders to modify loans, but so far a surprisingly low number of people received the benefit of loan modifications on their mortgages.

Many are also suspicious about whether the bailout of Greece will actually help out in the long term. Greece is essentially refinancing and writing off a huge amount of their debt in the bailut. However, there are few provisions in the bailout to actually stimulate their economy. While the bailout will help keep the country from economic collapse, it may only be staying off the inevitable. They still need to come up with a strategy for economic growth.

The fear is that it’s only a temporary solution that just pushes off the economic collapse a few years, but doesn’t really solve any problems.

This will trickle down to effect the entire world, so even though the economy is showing some signs of growth, it’s still in a precarious position.

I still believe in diversifying my investments. As I mentioned earlier, I do own some stocks and I am cautiously optimistic.

Overall, I think it’s a good sign that the stock market is showing improvement. At the very least, it can give people some hope that our economy is moving in the right direction.

Perhaps it’s time to start researching the stock market and see if this recovery will be sustained. There are some good opportunities out there waiting for an investor.

It’s a good time to keep an eye out for some stock market investments. Follow up on the news around the world. There are small signs that we are starting to right the ship. If you do your research and investigation, you might find a good investment.

Sign of Economic Recovery: Dow Hits 13000 is a post from: Riches Corner | Money Talk

Sign of Economic Recovery: Dow Hits 13000 Riches Corner | Money Talk - Saving, investing and making money with technology.

Running a home business can be very rewarding but it is important to compartmentalise your daily roles correctly.

Although running a home business can be very rewarding, it’s important that your work and personal life don’t mesh into one.  Home and business lives need to be kept separate, even when you work from home.

Banking

Running a home business means that you will be responsible for paying your own taxes, making your own super contributions, and managing cash flow. The first step for successful business cash management is to open a separate business account for your business income. This income should not be treated as spending money. Instead, you should take a wage out of the income on a monthly basis and leave an increasing pot of money within the business for future investment. Small business bookkeeping can be complicated but it is the most fundamental requirement for keeping your business on track with necessary payments and invoicing.

Regular Working Hours

When working from home it is far too easy to press the snooze button on your alarm for another hour and think that it just doesn’t matter. This couldn’t be further from the truth because this attitude will damage your ability to work effectively and efficiently. If you start work an hour later than you should then you will be behind from the start of the day. Working from home does not make every day like a weekend so be sure to set regular ‘office hours’ and stick to them diligently.

Separation of Responsibility

When working from home it is very easy to get distracted by other responsibilities. Grocery shopping and cleaning should not encroach on your working time because this will just be reducing the quality of the work that you are doing and give you less time in which to do it. Separate your house keeping responsibilities from your business responsibilities just as you would in an office environment.

Prioritise Workload

Organisation is central to all successful business practices. It is very important to prioritise your workload so that you are able to meet all deadlines to a high level of quality.

Childcare

Just because you are working from home doesn’t make it possible to carry out full-time childcare at the same time. Remember that you are being paid to offer a service to your clients, which needs to be completed professionally. It is not feasible to carry out full time care and run a business because the demands are too great. Take your children to childcare when working so that you can concentrate properly on the task at hand.

Contact Details

The contact details that you use say a lot about your business to potential clients. Using a private telephone number, a gmail account and a private address immediately tells potential customers that you will be working from home. A small amount of expense will provide you with a hosted email domain, a toll free or 1300 number (Australia) and a PO Box address. These three simple changes can be enough to make a huge amount of difference to your business.

Relaxation

At the end of each working day it is important to take an opportunity to unwind. Close the office for the evening and unwind as if you have just got back from a full-time job in the city. If you have been inside all day then take the opportunity to go outside and get some fresh air. Relaxation is as important after a day in a home office as it is after working elsewhere, so do not let yourself drift back to work in the evenings.

Managing a home based business has its challenges, but it also has many rewards. By following the tips we’ve listed above you should be able to run your business effectively and enjoy the freedom and autonomy that working from home supports.

How to Manage a Home Business is a post from: Riches Corner | Money Talk

How to Manage a Home Business Riches Corner | Money Talk - Saving, investing and making money with technology.

This month you may have noticed an improvement in performance and speed of the website.  That’s because we upgraded our hosting.  My friend (and brother in law) found an awesome VPS hosting plan from Hostigation and recommended the service to me.  With his help, I was able to transfer Riches Corner to Hostigation’s VPS server without a hitch.

Hostigation offers unmanaged VPS hosting starting from $20 a year.  Check out their plans:

They’re simply unbeatable!

My biggest debate was whether I wanted the $6 or the $10 a month plan.  I went with the $6 plan, which is still lower than what I was paying for a shared hosting service.  (I was previously with Hostgator, which I still recommend for shared hosting.  It’s still the best for the novice webmaster)

Hostigation comes with a great reputation and is considered one of the top ten low cost web hosting providers.  They’ve made a name for themselves by ensuring steady, reliable service for the servers and awesome support.  One of their policies is that they don’t over sell their hosting services.  It’s not uncommon to visit their site and find that they are out of stock momentarily.  Although, they get new stock in quickly, so it’s wise to check in every couple of days.  (They sell out really fast!)

This is actually a benefit as their servers won’t get overburdened by too many users.

The only disadvantage to their hosting services is that they keep the cost low by being completely unmanaged.  This won’t be a problem for someone with network administration or a computer background.  However, others will have to learn the nuts and bolts of setting up a web server.

If you are willing to set up and manage your own server, then you’ll love this service!

Since I transferred my site over, I ‘ve found that my page load speed has increased, my google page speed has improved, and my bounce rate has dropped drastically!

My google page speed rank has gone up to 68 from 33.  That’s double the improvement.

Here’s what my bounce rate looked like when I made the change:

Isn’t that just awesome!

Benefits of VPS Hosting vs. Shared Hosting

Shared hosting is a great option when you are just starting out.  Everything is managed for you and you really don’t need any technical expertise to get started.  The prices are kept low because you are sharing the server with thousands of other people.

While sharing does have the benefit of lowering your costs, the downside is that if someone on your server has a popular website, they can cause your service to slow down.  Some services try to limit that by throttling high resource users.  Of course that can affect you negatively as well if your site becomes popular.  Afterall, you always want your website operating at peak performance.

At some point, you want to upgrade so that you can ensure a resource availability and performance for your website.  That’s where VPS hosting may be a good option for you.

VPS hosting is one step down from having a dedicated server.  VPS hosting allows you to have your own dedicated allotment of resources on a server.  This way you get a guaranteed amount of server resources for your hosting needs.

With dedicated resources, you get a few benefits over shared hosting:

• Stability – You are no longer affected by the traffic and activities of other people on your server.
• Performance-  Your website’s performance is more stable as well.  Having dedicated resources ensures that your visitors get faster load times.
• Dedicted Resources – You have a dedicated amount of RAM and CPU, as well as the disk space that you need.
• Flexibility – You can use the operating system and control panel of your choice.  Also you have the ability to upgrade as your website grows.
• Security – Your website’s security is your own.  You can secure your website to your own specifications without worry about someone else’s security holes on a shared server.

I’ve found that Hostigation has really come through in providing a great VPS service that offers all of these benefits at a really great price.

Final Thoughts

Unmanaged VPS hosting may not be for everyone.  Truthfully, if my friend didn’t help me out, I would have been hesitant to make the change.  However, now that I made the switch to Hostigation, I’m really impressed.  If you know how to do it or are willing to learn how to set up your own server, then I wouldn’t hesitate to take the plunge.  Heck, you can even outsource the setup!

It’s completely worth it!  You’ll save yourself some money and see an improvement in your website as well.  If you are considering upgrading your site to VPS hosting, I would definitely recommend Hostigation.

Hostigation: Awesome VPS Hosting at a Great Low Price is a post from: Riches Corner | Money Talk

Hostigation: Awesome VPS Hosting at a Great Low Price Riches Corner | Money Talk - Saving, investing and making money with technology.

Whether you are a small or large business, your telephone is the greatest link to customers, clients and suppliers. So it makes sense that you have the right business telephone system that suits your needs.

Whether you are a small or large business, your telephone is the greatest link to customers, clients and suppliers. So it makes sense that you have the right business phone systems that suit your everyday needs and will stand up to the rigours of modern communications and service expectations. The right system will improve efficiency and it is worth considering a range of different options, including those that have the ability to make use of VoIP technology.

Identify your needs

It is important to recognise just what your telephone system needs to handle before committing to a particular product or option. A lot of it will depend on the size of your business as well – a small business is going to have very different needs to a major corporation. Things to consider include how many users the system needs to support and where those users are (such as in a head office, branches or on the road). Also analyse the volume of simultaneous calls your business handles. This will help determine how many lines will be required – the last thing you want is for clients to receive an engaged signal or get no response at all.

What kind of phones are needed

There is a big choice of phones and features available for businesses today, so it makes sense that you pay for something your workforce will use – fancy features that have no place in your workplace will only cost you money. But in saying that, it is also important to plan for the future. It is cheaper to get the right phone system set up now rather than having to go through an upgrade process or down the track. Many workers need only a line out, the ability to transfer calls, and maybe voicemail. But there are plenty of other options that can enhance and streamline your business, such as hands-free operation, video calling, instant messaging and call management.

Cost versus calling

A factor that goes hand-in-hand with the number of users and volume of calls is calling patterns. Having an efficient telephone system is one thing, but paying through the nose for all of your calls is counter-productive. It is worth analysing your call patterns before committing to a phone system because it can have a significant influence on your final purchase. If you are just a small business who deals locally then there will be a host of cost-effective plans available. But bigger businesses that deal with local, national and international clients and suppliers will want to look at ways of cutting down on their call costs. It may be that in this case a phone system with a VoIP component will go a long way to reducing costs. It will also offer other features such as video calling and conferencing and instant messaging.

Talk to an expert

Small businesses with few employees will find setting up a system far easier than big corporations, so it pays to seek out advice from the experts. Research is an important part of this and while the number of options may seem overwhelming, a little knowledge can go a long way. Speaking to experts in telecommunications will help put your mind at ease, help you understand your needs and help put you on the right path to the most appropriate system.

Choosing The Right Business Phone System is a post from: Riches Corner | Money Talk

Choosing The Right Business Phone System Riches Corner | Money Talk - Saving, investing and making money with technology.

The other day, I happened to be driving by a local university and I saw a unique parking space with this sign:

It caught my eye, and I found myself immediately curious about what a zipcar was.  So, I made a mental note and googled them when I got home.

As it turns out, this is a company that’s been around for a couple of years.  It’s essentially an online, low cost car rental service.  They have cars all over that park in these designated spots and people can log onto their site and rent the cars for as low as $8 an hour. (NOTE:  I have no affiliation with zipcar.  It just seems like a cool service.)

The cool thing (besides the low cost) is that this is an awesome business model that’s made possible only by modern technology, namely the internet.  If this company had to operate like a normal car rental agency with a brick and mortar store front, they couldn’t possibly rent cars in such short increments and at such a low cost.

The zipcar model allows people to find a zipcar parked near their location and reserve it through their iphone app.  Then they just go to where the car is parked, and they can unlock it with a special zipcar keycard and go.  They just return the car back to the spot when they are done and lock up.  The car is then ready for the next renter.

It’s also a perfect way that technology is helping people save on car expenses.  For a student or someone living in a large metropolitan area, you can consider forgoing a car purchase and simply use a service such as zipcar.

It got me thinking that’s just one of the many ways that modern technology is helping us save on vehicle expenses.

These days our cars are running more efficiently.  We are able to go farther on a single tank of gas, wait longer between oil changes, use alternative fuel vehicles, and even give up owning a car for a low cost rental solution such as zipcar.

If you own a car, you already know that it’s expensive.  I am a heavy commuter, so I spend around $500 a month on gas alone.  Then with maintenance costs, owning a car gets even more expensive.

So, I’ve researched several ways to save money on vehicle expenses.  Here are some tips that I would suggest to save on car expenses:

Keep Your Cars Longer

Since I was growing up, my family has always owned cars for the long term.  We’ve had cars for 20 years.  With proper maintenance a car can run for a very long time.  In the long run, it will save a lot more money than buying a new car every few years.

Don’t Change Your Oil Every 3,000 miles

I know that’s the common advice, but these days modern cars don’t need it.  Take a look at your car manual.  My car only needs an oil change every 5000 miles.  That’s almost twice as long.  That adds up to a lot of money over the years.

Do regular maintenance

This may seem like contrary advice, considering I’m telling you not to get an oil change every 3000 miles.  However, regular maintenance will keep your car running longer as well as keep your gas mileage up.

The short term costs of regular maintenance will really save you a lot of money in the long run.

Consider buying a hybrid vehicle

Gas is expensive.  I don’t own a hybrid, but if I had it to do over again, I probably would have bought a hybrid vehicle.  Much of your savings depends on your driving pattern and the price of gas.  However, with gas prices on the rise, you’re more likely to save money by buying a hybrid vehicle.
While hybrid cars are more expensive than regular cars, it’s easy to calculate your savings.  Just take the difference in price vs. the amount you save in gas over time.  You can quickly figure out how long it would take to recoup the difference in price.

Check out Peer to Peer Car Rentals

With a little bit of research, I discovered a company that provides peer to peer car rental services called getaround.com. (No affiliation)

This is a company that allows car owners to rent out their cars for short increments much like zipcar.  However, the difference is that the owner of the car can set the price for the rental and they share in the profits of the rental income.

So, if you own a car, you can use peer to peer rental to earn some income from your car!

Just think, you’re parked at the office for 8 hours.  Maybe you could rent out your car for 3-4 hours while you’re at work and earn some extra money.  Brilliant!

Consider Not Owning a Car at All

Of course, this article started with my discovery of zipcar.  Now we’ve come full circle.  If you live in an area where there is a service such as zipcar or you have reliable public transportation, then you can even consider not owning a car at all.  If you don’t need a car to get around, you can save a ton of money simply by using public transportation or a car rental service on occasion.

Final Thoughts

I find it interesting to discover ways that technology is helping us save money that we don’t even foresee.  We often think of direct ways, such as new fuel technology, that helps us save with our vehicles.  However, there are many more imaginative ways to use current technology to help us save.

How Technology Can Help You Save on Auto Expenses is a post from: Riches Corner | Money Talk

How Technology Can Help You Save on Auto Expenses Riches Corner | Money Talk - Saving, investing and making money with technology.

If you are not marketing to increase your customer base then you should be.  Every small business needs to market itself. Here we talk about the top 6 ways of doing this.

If you are not currently looking to expand your customer base, reach a wider audience, and market your small business, then you should be. Every business needs to promote itself effectively and look to expand on the profits already being made. There are many cheap ways to promote your business as long as you understand your small business bookkeeping. This article will consider 6 ways in which you can expand your business through targeted marketing strategies without overspending and damaging your chances of success.

1. 1.      Customer rewards to expand the customer base

Every customer likes to be rewarded and this is a very powerful tool to keep drawing customers in to your business.  A rewards system can be as simple as offering something for free after every 5 or 10 purchases. Alternatively it could work on a points system which allows people to save for larger rewards. Either way, this is an excellent method for strengthening customer loyalty.

1. 2.      Write a local press release

Local press releases are free and they are a great way to actively target your audience. It is important to write the release in connection with something worthwhile like charity work so that it can be crafted into an interesting story. Always remember to include your website and location in the press release because they are more likely to be published if they are easily located.

1. 3.      Invest in a toll free telephone number

Investing in a toll free number such as 1300 number (australia) or 800 number can be a very good way to make your small business appear more specialised and professional on the surface. Toll free telephone numbers are easier to remember and to promote.

You can try out a phone service such as Ring Central to create a local presence wherever you want to do business.  They offer low cost cloud based telephone services such as local numbers, fax services as well as toll free numbers for your small business.

1. 4.      Find a joint promotions partner

Joint promotions can be beneficial to both businesses and they can be a great way to benefit from a pre-existing customer base. Consider working with businesses near you which deals in different goods to the same audience. For example, a toy shop would do well working with a children’s’ clothing store because they share a common target audience but sell different products.

1. 5.      Build a social profile

A social profile is basically a platform to direct people towards your website for information or services. By participating in conversations on Yahoo, Q&A Forums, and specialist forums, you will be able to demonstrate to potential customers that you are able to provide accurate and useful information in the field. This is a fantastic way to boost the existing customer base that you have.

1. 6.      Use local advertising

Local advertising through either Google Local or the Yellow Pages is usually free and is an excellent way to reach interested customers. An advertisement in the Yellow Pages will allow you to be easily found by customers without any hassle. Be sure to include your web address and phone number in the advert so that you can be found without any difficulty.

Marketing a small business should be an ongoing and regularly monitored practice. When marketing, it is important to both remain within your means and to be ambitious about reaching a wide audience.

6 Ways to Market a Small Business is a post from: Riches Corner | Money Talk

6 Ways to Market a Small Business Riches Corner | Money Talk - Saving, investing and making money with technology.

As much as you scrimp and save and wisely manage your personal finance, sometimes you need some additional help.  Unforeseen circumstances, sudden events, or emergencies can often require dipping into your cash reserves.  In the event that you need additional funds, you may have to look into some short term loans.

It can be difficult to find the right lender in an emergency.  You’re often under the stress of your circumstances and you don’t know where to look.  Walking into a bank might be one option, but you don’t know if you will be approved and how long it will take to get the funds.  Also, it’s hard to fully research your options when you are sitting in front of the loan reviewer at the bank.  Some may feel uncomfortable or embarrassed to request an emergency loan at the bank as well.

These days, getting a short term loan doesn’t have to be an ordeal.  The internet provides many resources to reputable financial institutions as well as providing a buffer for your personal privacy.  You don’t have to walk into a bank to request a loan.  Instead, you can look online and fill out a secure application in the privacy of your own home.  The process is safe, secure and private.

You can take the time to research your options and find the best loan for your needs.

For example, a financial institution such as Cash First allows you to borrow up to $5000 in a cash loan with ease.  The process is entirely secure and simple.

In order to qualify for a loan, you must be employed, earn over $20,000 p.a. and have a good credit history.

You simply fill out the online application form and submit the required details.  The approval process is fast.  You will generally get a response within a minute.

Once you are approved, your cash loan amount is deposited into your bank of choice within 24 hours of receipt of the loan documents.  The repayment process is simple as well.  The loan repayments are deducted from your bank account on agreed dates until the loan is repaid.  You can even pay off the loan early if you come into some extra money.

Cashfirst loans are underwritten by one of Australia’s leading companies that is publicly listed and has been trading in Australia for over 70 years.

You never have to leave the privacy of your own home in order to apply and get your cash.

The benefit of being able to apply and receive a loan online is that you are able to protect your privacy, while at the same time get quick service.  Often, you can find flexible terms that are written out.  Also, you can check the background of the lender before making your decision.

With the amount of available information on the internet, you can find a reliable and established company to service your loan, so you don’t have to worry about being cheated by hidden fees or unfair rates.  Everything is written out and available for you to research.

Online Short Term Loans in a Financial Emergency is a post from: Riches Corner | Money Talk

Online Short Term Loans in a Financial Emergency Riches Corner | Money Talk - Saving, investing and making money with technology.

In these hard economic times, often the best way to get away from paycheck to paycheck is to find the best payday loan for your situation. This method of covering emergencies, overdue bills, and necessities is becoming a very popular way to survive the global financial crisis that currently affects millions of people.

While the short term loan has disadvantages—high interest rates, sometimes only two weeks to pay it back, and additional stress—it can prevent long-term stress, negative credit reports, and delays in handling personal disasters. For instance, if your child recently broke her arm you may need to pay the hospital bill within a month. If you don’t have money saved up for emergencies due to effects of the widespread financial downturns, this could become a huge black spot on your credit.

Many reasons to get a payday loan
Although you would not want to use a payday advance to purchase a flat screen television, you might need the money for a computer for your education. Working students sometimes use payday loans for each semester’s textbook purchase when their financial aid comes in late. The internet is full testimonials of people who have been forced to take a day off work due to financial difficulties of their employers—they sometimes pay for groceries on a payday loan.

Payday loans need to be paid back quickly, usually within two weeks. To make sure that you can do so, stick to these three rules:

1. First, make sure you can cover it when you get your check—include your weekly necessities when you’re figuring out what you will need.
2. Find the best payday loan for your circumstances. Each company will have different plans and payment requirements.
3. Once you get your loan, don’t overspend—you will have to pay back every cent on time or face high fees that will keep your debt rolling.

Due diligence when borrowing
Also, do your research. A little bit of time on the phone or the internet could save you a lot of money. The best payday loans for your circumstances might be right around the corner from your house in a small shopping center! On the other hand, you may find that there is an online payday loan company that can wire money directly to your checking account within an hour.

There may be a special set of rules for your situation. For instance, military members may not be able to get a payday loan at all, and there are limits on the amount of interest they can pay on any loan.

In any case, be sure you understand the rules, regulations and costs. Do your math and plan your time line so you can find the best payday loan for you.

Bad Credit? Need A Payday Loan? Apply Online Quickly and Easily, You’ll Get An Instant Decision and A Fast Deposit.

Tough Economic Times – You Need the Best Payday Loans Available is a post from: Riches Corner | Money Talk

Tough Economic Times – You Need the Best Payday Loans Available Riches Corner | Money Talk - Saving, investing and making money with technology.