Can a Payday Loan Company Sue You?

By
can payday loans sue you
Photo credit: Pixabay.com

It’s dismaying to hear that people still ask questions like ‘Can a loan company take you to court?’. Even if it’s not common, it can absolutely sue you.

This is hardly a secret that in order to avoid difficulties, you should always pay your statement balance in full, every month, without exceptions. Do you plan on using your payday loan the correct way? Great, then a collection agency is not a concern for you. Otherwise, it’s more likely that you risk putting in front of a judge.

Continue reading “Can a Payday Loan Company Sue You?”

How to Increase Your Credit Score up to 800

By
how to get your credit score up
Photo credit: Unsplash.com

In the land of credit scores, FICO rating is king. Many of us, in one of these fine days, have done something in the heat of the moment that adversely affected their credit rating. Now you may find your head spinning on how to minimize that negative impact.

Well, is there anything you can do to raise it quickly?

Your credit score tells whether you are good at borrowing money and paying it back. All in all, having a healthy score is always good. One thing to remember here is that good credit scores follow good financial habits. In its turn, saving and planning will do far more for you than a good credit score. Yet, if you’re still thinking about ‘How to increase my credit score?’, the time is now.

Continue reading “How to Increase Your Credit Score up to 800”

Stop Waiting in Line – Go Digital and Open Bank Account Online

By
how to open a bank account online
Photo credit: Unsplash.com

We live in the land of opportunities, where every single mouse click can make our dreams a reality. Face it, there’s almost no area which you do online. Diet, fitness, health, entertainment, eCommerce, finance, everything’s at your fingertips.

The recent data shows that there’s a significant increase in interest in personal finance topics (up 21.1 percent).

What is bitcoin? How to secure mobile payments? There seems to be no end to the diversity of questions. In times, a major part of consumers agonizes over on some level while searching how to open a bank account online. If you are one of them, then let our journey down the rabbit hole together begin.

Continue reading “Stop Waiting in Line – Go Digital and Open Bank Account Online”

How Long Does Something Stay on Your Credit Report?

By
negative marks on credit report
Photo credit: Pixabay.com

A danger foreseen is half avoided. We all wish we could be warned ahead of time or could foresee a problem in time to reduce its negative impact. But the reality proves quite the contrary. No matter how hard we try, things will always go south. Especially when it comes to financial mistakes.

Have you ever wondered how long does something stay on your credit report in case you’ve made a mistake? In an ideal world, we don’t miss a step. Unfortunately, ‘errare humanum est’ (i.e. to err is human).

Continue reading “How Long Does Something Stay on Your Credit Report?”

Top 10 Best Personal Finance Podcasts Worth Investing Your Time In

By
personal finance podcasts
Photo credit: Pixabay.com

Are you keeping track of your finances? That‘s a good start. Being bombarded from every direction, we struggle to find content that matters. Financial podcasts can benefit your money management right off the bat.

Did you know that listening to the best financial podcasts can do wonders in your financial life? Whether you’re looking for financial advice online or ways to improve your life, financial podcasts provide a ton of value. Try to consume content that matters in a more convenient way.

Continue reading “Top 10 Best Personal Finance Podcasts Worth Investing Your Time In”

Big Day Freebies: 39+ Places That Give You Free Stuff On Your Birthday

By
birthday freebies
Photo credit: Pixabay.com

Face it, the best part about birthdays is presents. The more, the better, right? But what can be better for the possibility to pamper yourself without spending a dime? Sure, by knowing places that give you free stuff on your birthday, your birthday celebrations can go much longer. Brighten up your birthday with some extra treats.

Do you like freebies? Of course, you do! Make your big day feel extra special thanks to some places that give free stuff on your birthday. The best thing is that tons of businesses allow redeeming freebies during your birthday week or even month. Start planning your totally free day in advance is a clever way to get the best freebie deals.

Continue reading “Big Day Freebies: 39+ Places That Give You Free Stuff On Your Birthday”

How to Save Money while Traveling Overseas

By
how to travel overseas
Photo credit: Pixabay.com

International travel is an increasingly popular choice for students and young people. In 2012, youth travelers spent $217 billion on tourism spend worldwide.

Fortunately, it’s getting easier and cheaper to see the world, and you can save big when traveling by making some smart moves with your money.

Voluntourism

First, think about what kind of overseas adventure you want. There are many ways to go about it, and volunteer tourism, or what’s come to be known as “voluntourism” is a fast-growing trend. Over 1.5 million volunteers are heading overseas and spending $2 billion each year for a different kind of holiday.

The idea is that volunteers experience a country and culture by working on a local community project (usually in a developing country), and the community benefits from the work of the volunteers. Common examples are working in an orphanage, helping to build a school, and doing conservation work.

Volunteers usually pay a (somewhat) inclusive fee to placement providers. Programs start from about $1,700 for a week-long placement in Nepal, for example, and go all the way up to $29,995 for a 27-week, multi-country trip.

Gap Year

Another option is a gap year, a period ranging from three months to two years in which you usually live and work overseas. About 30,000-40,000 American students choose to take a gap year every year, and the numbers continue to grow. In 2015, the American Gap Association reported a 22 percent increase in students enrolling in gap programs over the previous year. The average gap year is usually between 6 to 12 months and costs between $6,500 and $9,000.

But what about managing your money?

No matter how you go about your travels, one thing you’ll have to consider is how you’ll manage your money. Assuming you’ll be working, you’ll probably need to open a bank account in your chosen country to get your wages paid into, and you’ll want a debit card to make everyday purchases easier.

It will usually be much more cost-effective than converting your foreign money back to your American account and converting back to foreign money when withdrawing it. There are even ways to travel without using your credit card at all.

Money Transfers

Transferring money and converting currencies can be costly – something you want to avoid when backpacking overseas. If you’ve got savings in an American bank account and want to transfer that money into your foreign bank account, or need to transfer costs to a business in a foreign country, you’ve got a couple of options.

save money while traveling
Photo credit: Pixabay.com

Let’s say you’ve saved $10,000 to get you started in sunny Sydney, Australia.

You’ve set up an Australian bank account, and now you need to transfer your funds from your American bank account.

The “old school” way of doing this is a simple bank to bank transfer.

Your bank will have an exchange rate for Australian dollars – let’s say 1 USD = 1.28 AUD.

You’ll be charged a transaction fee (about $35), and in some cases, you might also be charged a receiving fee and other nasties. But let’s give your bank the benefit of the doubt.

With a 1.28 exchange rate and a $35 transaction fee, you’re $10,000 USD will get you $12,765 AUD.

You can probably do much better than that.

Go Online

It’s possible to completely avoid those extra fees by going with an online money transfer provider instead of a bank to bank transfer. The best providers won’t charge transaction or receiving fees and will offer competitive exchange rates.

The closer their advertised exchange rate is to the mid-market rate – the benchmark rate that traders use – the more money you’ll squeeze out of the transaction. You can find the mid-market rate with a quick google search like, “USD to AUD”.

Now let’s compare one of the biggest players in this space, Transfer Wise, one of the winners in the inaugural finder.com International Money Transfer Awards.

Transfer Wise’s exchange rate for Australian dollars is 1 USD = 1.312 AUD, which is very close to the current mid-market rate of 1.32, and there is no transaction or receiving a fee. So for your $10,000, you’ll potentially receive $13,120 AUD.

That’s $355 more than what you would have received with the bank transfer example above, and when you’re a young budget traveler, those savings can make a big difference.

Research Is Key!

So whether you go on a short volunteering stint or decide to live abroad, a little research about how you move your money internationally is worth your while. Online international money transfer services usually have lower fees and more competitive exchange rates, which could save you hundreds – even thousands – of dollars.

Instead of wasting that money on avoidable fees, use it to travel longer and fund more overseas adventures – you won’t regret it!

Jennifer McDermott is Consumer Advocate at personal finance comparison website finder.com. With more than 12 years’ experience under her belt, having analyzed consumer trends in the travel and lifestyle industries.

Pool Party Ideas that Won’t Bust Your Budget

By
cheap pool party
Photo credit: Pixabay.com

Want to throw the best pool party? With fruity cocktails, festive floats, and creative ideas for bright, colorful décor, your epic pool party doesn’t have to cost you an arm and leg.

Don’t go nuts! All it takes is some creativity and careful planning. Fill your mind with plenty of pool party ideas to take your next poolside bash to the next level. Face it, we all love an excuse to get together and hang out. Dipping our toes into a pool is a great way to forget all the responsibilities for a little while.

Continue reading “Pool Party Ideas that Won’t Bust Your Budget”

Have You Ever Wondered Where Does All the Money Go?

By
countries spending budget
Photo credit: Pixabay.com

Just like you decide how to spend your pocket money, the government gets its money from a different type of taxes to finance various public services like schools, hospitals, the police, and housing. Understanding where state tax dollars go can help explain how countries spend their money.

Indeed, the government helps educate children, build and repair roads & bridges, provide health coverage for low-income groups, and much more. As a result, spending money on such services is economic vitality. It helps build strong and healthy nations.

The US government spent $70, 352,596,760 for education expenditures In 2017/2018, which is 5.3 percent of GDP

We all know that money can be hard to manage. Yet, with Gross Domestic Product indicator, it’s easier to determine a country’s economy and health.

Related: Check our infographic about how much Americans spend money.

Continue reading “Have You Ever Wondered Where Does All the Money Go?”

Personal Loans for Business: A Clever Way of Getting Financed

By
personal loans to finance business
Photo credit: Pixabay.com

If you stopped getting a paycheck today, would you simply wait till your business collapse? Hope as any other concerned business owner you’d better apply for personal loans for business when a cash flow hiccup becomes out of your control.

We all know that money doesn’t make you happy but face it, it’s next to impossible to live without it. Whether you like it or not but cash is a king today. Even more, cash is a necessary evil in keeping your business alive and healthy.

You must agree, spending money is fun. We all wish we could spend money on two-vacations-a-year-in-a-foreign-land or buy a holiday home at Lake Tahoe. Who of you does not want to have a share of the American dream?

Continue reading “Personal Loans for Business: A Clever Way of Getting Financed”