The effective rate is the interest rate you actually pay or receive, as opposed to the stated rate. For example, an 8% stated rate paid annually on a $1,000 investment is $80 per year. However, if interest is paid quarterly, you will receive $82.40 a year. So, the effective annual rate is 8.24% per year. Read the fine print, where effective rates are generally disclosed. (more…)

Financial counseling is assisting clients in the development and creative use of all their resources to achieve economic financial security or well-being by generating alternatives from which the client chooses. Ultimately the client is assisted to improve quality of life with less wasteful resources. The processes are: (more…)

Home Equity Loan is the best choice for those who are looking for low-interest loans. This selection allows people whoa re in need of loan, that this loan can save them the large amount of time. There are several ways to get inexpensive home equity loans. One way is to get a loan without home equity closing costs. Closing a loan with mortgage free, you pay no upfront fees. Online lenders usually have a box you can control the costs of closure. Without closing cost, compound interest rates of home equity loans are usually 1 point or higher than other equity loans. (more…)

The median price of a home as you read this article was running over $200,000. Don’t forget to throw in maintenance, insurance, and property taxes. To see if you can afford a home, with a mortgage, why not do the calculations that lenders do—before you get in over your head? (more…)

Renting a home or apartment is an issue of broad interest. That’s because, whether you’re still in school or not long removed, chances are fairly good that you’re renting, are thinking about renting, or, at the very least, are giving some thought to changing a renting arrangement. Obviously, this article can’t go into the particulars of all sorts of rental situations if nothing else, market conditions are drastically different across the country but we can touch on some major points to help with your rent (more…)

The law allows each person to get a free credit report each year from the 3 credit agencies that include TransUnion, Equifax and Experian. While most people are aware of this, they may not know the process they need to follow when looking for a report about their credit situation. This report is very important because the information that it contains will often determine whether (more…)

Ever seen something nice through the window of your favorite clothing store or dreamed of getting that new set of HDTV. This need and craving for luxury items often motivates individuals to work harder and harder in order to earn the necessary income and credit to buy these things. Now, everyone can further maximize this by availing low credit card interest rates. (more…)

So you just graduated from college and landed your first full time job. Congratulations! It requires that you travel so being the financially savvy consumer that you are, you compare the frequent flyer rewards cards on the market. (more…)

Winter is almost over and it is officially springtime in a few days. I for one cant wait! I hope everyone has weathered the storm so to speak with the way the economy has been. I know we are staying closer to home this year as far as taking any vacations. We will make a few long weekenders instead of one big vacation. And we will be spending more time in our pool, because it is closer and more economical than driving to the shore. Whatever plans you are making this year, I hope that you have a great swimming pool season. (more…)

When you loan money or charge an item to a credit card, you are using cash loan or credit. Credit is an arrangement to receive cash, goods, or services now and pay for them in the future. Consumer credit is the use of credit for personal needs. It is also an indicator of consumer spending and demand. A common form of consumer credit loan is a credit card account issued by a financial institution. (more…)