10 Steps To Reduce Your Debt: Do-It-Yourself Debt Reduction

Getting into debt is easy and worrying about it won’t do much in relieving you from your debt. The best you can do when you have already run into debt is to start working towards reducing or clearing the debt and staying out of debt in every possible way. You can find your own strategy to deal with the debt, but there are several DIY debt reduction strategies and tips you can use to get over your financial woes.

1. Evaluate the debts. Start by collecting all financial documents and printing credit reports so you know exactly where you are with the debts. Most times people get scared just thinking of how hefty the debts are but you will never know until you take the courage to evaluate the debt so you can start somewhere with the recovery. Include all personal loans, auto loans, credit cards and payday loans in this evaluation.

2. Check your current earnings and budget. With the clear debt information, you then must start working towards debt reduction. Calculate the monthly income you get after taxes and basics like mortgage or rent, groceries, utilities and insurance. This way, you will get to find out how much you can spare for paying off the debt.

3. Find ways to increase pay off amounts. Sometimes when you subtract all basics from your income, you might find that you have very little amount left you can use on the debts. If the amount is too small, try and come up with ways through which you can reduce spending. Carpooling is one of the temporary methods you can use to cutback the expenses.

4. Create a plan. Now that you have some money to use on the debts, create a plan of how you are going to handle the debts and pay off. Will you start with one debt or pay a little every month for every debt you have? You might find it helpful to start with debts with highest interest rates or highest balance.

5. Negotiate repayment with your lenders and creditors. Agreeing to negotiate terms will be a plus to your credibility and your lenders or creditors will be more than willing to strike a deal with you.

6. Keep up with the debt reduction plan. Commitment is your only ticket out of debt so keep up with the plan.

7. As you continue with the repayment plan, avoid adding any more debts on top of what you already have.

8. Find better ways to deal with your financial issues besides getting loans. You can for instance, avoid making purchases for those that are not urgent.

9. Leave your credit card at home when going out unless you are going shopping. It will keep impulse buying at bay. In case you are going to shop, make a list of everything you need and stick by it no matter how tempting things in the store appear.

10. In case you take up a loan again, be consistent with your repayment and avoid piling loans. Try and have one loan at a time.

Main Causes of Home Water Damage

Insurance companies report that approximately 93 percent of water damage claims last year could have been prevented by simple home maintenance or the use of a standard shut-off system or leak detection system. With most flood damage claims costing an average of $5,000 in repairs, it’s extremely beneficial for homeowners to understand and easily identify possible threats that might lead to water damage.

Rain

According to insurance companies, rain damage makes up for 8 percent of all water damage claims. Even small amounts of rain, over time, can wear down at your home and cause eventual damage to your home’s foundation or interior. Extreme weather conditions such as floods can also cause major damage to homes, especially without the proper protection. Flood damages lead to especially dangerous amounts of standing water, which can house harmful bacteria and pathogens that often lead to illness.

Plumbing Incidents

Many plumbing problems such as burst pipes and pipe leaks occur within walls and can be very difficult to detect. Left undetected for long periods of time, these plumbing problems can cause severe water damage. Leaky and burst pipes are the most common culprits of flood damage, often resulting from backed up drains and toilets. Experts suggest regular inspections of your pipes in order to catch potential problems and make necessary repairs before any real damage occurs.

Household Appliances

Older and malfunctioning appliances can wreak havoc on a home’s internal water systems. Weak hoses and rusted or cracked pipes can lead to future leaks and water accumulation. Homes most frequently experience damage from damaged or aged washing machines and hot water tanks; however, dishwashers, refrigerators, and water heaters can also become more and more susceptible to damage over time. Fixing or replacing older models can prevent future leaks and water damage.

Air Conditioning, Heating, and Ventilation Systems

Most homeowners don’t realize that their heating and air conditioning systems require regular maintenance. Without proper attention, these units can see severe moisture buildups which can contribute to the growth of mold and mildew deposits. To prevent these issues, schedule regular maintenance with a professional to catch possible damage. Replacing old fixtures may be necessary in the long run to prevent moisture buildups and, ultimately, water damage.

How to Prevent Water Damage

While some water disasters occur as a result of unpredictable and uncontrollable circumstances, most H2O damage can be prevented through regular home inspections and the periodic maintenance of household products. Homeowners can also install a shut-off system or leak detection system to catch leaks and shut off your water main automatically in the case of a hazardous leak. Investments in smaller repairs and other preventative measures can end up saving you hundreds, even thousands of dollars in the long run.

Improving Your Credit Score – A How-To Guide

Getting the perfect credit score has been quite a challenge for a good number of people. However, such a score will guarantee you a lot of things. This means that you need to go out of your way and work on raising your credit score if it has been down. Luckily, there are ways to achieve this quickly, and this guide will look at how to improve your credit score.

Be Timely with Your Bills

Your payment history accounts for about 35% of your credit score. Looking at these values, you really need to ensure that your bills are paid on time to avoid losing valuable points. If you have been sitting on those bills, then it is time to get up and settle all of them. It is also pertinent to understand that accounts that have been late for more than 90 days attract the highest negative score. Therefore, start with those payments that are long overdue then hasten to complete even the most recent ones and remember to pay them in full.

Commit Yourself with a Credit Card

Having an active credit card or two is also one sure way of improving your credit score. If you qualify as a responsible card holder, there is no way your credit score will be down. Being responsible means making your payments on time. In case you do not qualify for a traditional credit card, you could try a secured one. As much as this card requires you to make a deposit first, it is still helpful in healing your credit score.

Avoid Opening Many New Accounts

Each time you go for a new credit card, the company always carries out a hard check on your credit health. Opening many accounts means that more checks will have to be carried out. If there are too many checks carried out on you, your credit score will definitely suffer when applying for the cards. This is because these checks are associated with people who are desperately trying to get credit and it is best to minimize them.

Limit Your Utilization Rate

Although it is advisable to get a credit card to improve your credit score, do not max out this card. Close to 30% of your credit score is based on your credit utilization and the lower this value is, the better your score. It is easy to calculate your usage. Simply divide your credit balances with your credit limit and anything between 0-20% is fine. Otherwise, limit those expenses that you make on your credit cards or you could also talk to your provider to increase your limit.

Do Not Close Old Accounts

If you have been thinking of closing your old credit accounts to create more room in your wallet for the new ones, then think again. Something close to 15% of your credit rating is based on your credit history. This implies that if you have old credit accounts, your chances of easily getting a better score are quite high. By closing your old accounts, you are limiting your history to the age of your oldest credit card which will lower your score.

Negotiate Where Possible

As much as you may have wanted to do everything right, there are times when you may not be able to meet one or two payments. This falling back on payments can ruin your score but you can negotiate your way out before it does. In case you lost your job somewhere along the line, make your creditors aware of this and ask them to recall any collection notice they may have put on your account. You can also ask for a good-will adjustment from some of your creditors. In fact, many people do not do this but you will be amazed at how understanding they can be.

Living without credit is not a possibility in today’s living conditions. No matter how bad your credit score might be, you always have a chance of reviving it and getting to enjoy even more credit. These simple tips will help you breathe a new lease of life to your credit score that will finally bring it up.

Valuable Car Finance Tips

The second largest investment you will have in a lifetime perhaps is getting your own car. After you have scrutinized every model and zeroed in on the best car to purchase, the next process is to determine how you are going to pay it.

The road to car ownership is paved with car finance options. The package you choose will make the difference between monthly struggles and easy payments. Will you get to keep driving your car or have to default on the loan over a certain period?

When looking at your financing options, here are valuable tips to consider:

Think about interest rates. Your interest rate will depend on a number of factors such as the type of the car, the length of the loan term, your credit rating and the lender. Generally new cars have much lower interest rates. Higher interest rate is required for longer car loans. You will get lower interest rates if you have been pretty good at keeping a good credit rating score. Focus on the interest rates as different companies provide varying options.

Choose from as many lenders as possible. Your options for car financing could be banking institutions, the automaker, credit unions, and other lending sources. Weigh the pros and cons of the different types of lenders. Going through all the interest rates and loan-terms of the different lenders will be overwhelming task. Experts not only help you make the right choice, but also offer you a number of good options. Consumers today get the right financing for their vehicles with finance consultants working exclusively on helping consumers.

Seek expert guidance. A financial consultant would point out key features you may want for your loan, allowing you to get a tailored approach, and therefore an ideal solution, to your financing. Such expert help would also come in handy for businesses looking to invest in company cars and employers who may want to offer a lease (also known as salary packaging) to high performing employees.

Ask for special deals. Special deals on certain loans are offered by some lenders in order to get fairly competitive in the market. Depending on the automaker you have chosen, you could be given zero-percent financing or offered lower rates for short-term lengths.

Companies are able to help employees on their car financing needs through a special form of lease. The lease is a three-way agreement between the employer, the employee and the finance company. As the employer though, be aware that while you should be able to finance a car after a bankruptcy, you may not be able to get the best car finance rates.

Matt Lloyd and MyTopTierBusiness

Matt Lloyd is the “master mind” behind the MOBE (My Online Business Empire), IM Revolution and several other online offers.

Of course, all the “reviews” of the product are Affiliates trying to sell it.

I’m not, so I will give you an honest opinion.

Matt Lloyd, unlike most of the “gurus” out there, has had some success online and claims to make hundreds of thousands a MONTH with his methods and also promises to “reveal” these methods to you, but for a HEFTY price.

Matt Lloyd does have some good information and a lot of it, of course depending on what level you choose to participate. His “My Online Business Empire” program ranges from around $500 all the way up to $20,000!

Now, I have been doing online marketing for about 15 years, full time, and I have seen HUNDREDS of programs online that make the same type of promises, most of which are hogwash, and they all seem to be centered around affiliate marketing.

Obviously, you have to sell something and most folks don’t have a product laying around that they want to sell, so… as far as M.O.B.E is concerned, the course itself is what you will be selling.

That means that YOU will be out there competing with others who have forked over, perhaps $20 Grand, and who are willing to spend a lot to make that back.

In terms of information, again, depending on the level you join, there is so MUCH that it will take you a LONG time to go through it, much less implement it.

Matt Lloyd’s program is based on the “funded proposal” which has made some people a lot of money, will it for you? MAYBE, if you have the money and the time to spend doing it. He shows you A LOT of things that you will be buying, lesson after lesson, which will take you TONS of time, so this isn’t making money in a couple of days. That is not to say that you will never make money if you put in the WORK.

Jonathan Budd, a guy that upsells, upsells, upsells, endorses this and Matt is supposed to be one of his top students, so guess what? Matt Lloyd will do the same.

This introductory video is VERY long and is trying hard to convince you. THAT is a sign of more expenditures to come. Will you get a lot of good information, which if you could REALLY implement it you might make some money? Yes. However, know this: There are thousands and thousands and thousands of people trying to make money with Jonathan Budd’s methods, some do, the majority do not.

I am not a member of M.O.B.E., but a VERY good friend of mine is and he is also a very experienced, hard working marketer and he has made a little money with it, but honestly, nothing close to what he spent.