Posted: May 14th, 2010 | Author: admin | Filed under: Personal Finance | Tags: income, Personal Finance, wealth building | No Comments »
Generating a few different income sources has several advantages to simply staying the course with one source of income. While in some ways it may seem like a smarter idea to focus on one income producing source, such as a career, it can be much better to have a few different outs. This path of collecting different income sources has 3 huge advantages.
1. To Be Secure
The first thing is security. Ask anyone that ever made it big and lost it all how important it is to have outs in their finances. If you have many different sources of income and then lose one you will still be ok or at least the impact will hurt a lot less then if you lost your only income source.
Security is important, and can lead to a lot less financial stress.
Read the rest of this entry »
Posted: September 13th, 2009 | Author: admin | Filed under: Personal Finance | Tags: credit card debt, credit card debt relief, Debt Relief, home equity loans, Personal Finance | No Comments »
As if recession, layoffs, and falling real estate prices weren’t enough bad news, recent headlines have included stories of credit card companies selectively raising rates for consumers—even some who have great credit and haven’t missed payments! In this climate, many people are looking for credit card debt relief.
Consolidation loans are being aggressively marketed by banks, pitching consumers on converting hard-earned home equity into lower interest rates and extended payouts for credit card debt relief. Is borrowing against your home equity a good idea? In this environment of falling real estate prices, can you even qualify for a home equity loan? These are questions you need to ask and answer for yourself as you search for means of credit card debt relief.
Home Equity Loans: Good and Bad
For consumers drowning in high minimum monthly payments to their credit card companies and other unsecured lenders, the dramatically lower interest rates and longer payout periods associated with home equity loans can look like a great alternative for credit card debt relief. If, after a careful look at your home’s current market value and your mortgage statement, you believe you have enough equity to borrow against to pay off a big chunk of unsecured debt, this may be a good way to obtain some credit card debt relief.
Read the rest of this entry »
