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How to Reduce Personal Loans for Home Improvement?

If you own your own home, you will eventually need to pay for repairs, upgrades, and home improvement projects. Whether you need to add a room to your home or fix a wall, home repairs can contribute significantly to your home budget. Many homeowners need to borrow money in order to pay for home repairs. You can keep your personal loans small and save money on home projects with these simple Localcashhelp lender tips:

simple Localcashhelp lender tipsDo it yourself. Many hardware stores hold free or inexpensive workshops that can teach you how to do everything from build a deck to put up drywall. Your local library will also have videos and books that can guide you through a project.

Find less expensive building materials. In addition to saving on labor, you can also often save on materials costs. Look for used appliances and building materials through contractors, classified ads, and resell stores.

Know when to spend more on professionals and when you spend less. If you need an electrician, it pays to get the best. However, if you just need someone to haul away debris or cut your lawn, look in the classified ads for someone who does odd jobs. This can often save you a lot of money.

Shop around for the right personal loans for your project. If you do need to take out personal loans to cover a renovation project, repair your credit and look for the lowest interest rate you can find. Many homeowners like to use lines of credit, as these flexible accounts allow them to spend as much as they need and pay off the loan as quickly or as gradually as they like.

Make financially smart improvement choices. Look for home improvements which will actually improve the value of your home significantly.

Consider getting the job done gradually. Rather than taking out personal loans or signature loans, consider getting smaller jobs done over time and budget to pay for these jobs with cash. This way, you can avoid interest charges and loans entirely, learn more at…

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What Makes More Sense – Renting or Owning a Home?

renting or owning a homeFinancially, many people assume it is better to own a home rather than rent. There are in fact many advantages to homeownership. When you own your own home, you have a valuable asset that you can sell, borrow against, or rent. Lenders are often more willing to consider you for an array of personal loans and secured loans if you own your own home. Homeowners also enjoy some tax privileges.

However, there are also many advantages to renting a home. If you do not want to be tied down to one place, renting allows you to change your place of residence often. There are costs and hassles associated with buying a home, and you can avoid these if you move often by renting. As well, renting sometimes makes sense financially. Owning a home is expensive; you need to pay taxes, a mortgage, insurance, home repair costs, and other related costs. Many people find that renting is less expensive than owning and if you invest the money you save by renting, you might enjoy investing in certificates of deposits, stocks, and other investments which might actually put you ahead of some homeowners. Don’t assume that owning is the only smart choice. Consider your goals and lifestyle and consider overall home costs before deciding.…

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Should You Pay for Debt Settlement?

Debt settlement companies promise to help you with unwanted collection calls, personal loans debts, and more. If you have many payday loans and other loans, these services can be tempting but keep in mind that they may not be a perfect solution for a few reasons:

1) These companies can be costly. Some companies charge 13%, 20% or even more of your total debt. Even some “non-profit” debt counseling services charge hefty fees. If you are interested in debt settlement, make sure that you determine the total fees of a service – including any hidden fees. Make sure that the services you are getting are worth the cost.

2) Your lenders will not be happy. You might even get sued, since most debt settlement companies have you stop making bill payments while the company “negotiates” with your lenders and creditors. Sometimes, the debt settlement process can take months or even more than a year and most lenders have serious consequences in store for you if you stop paying bills for this long. Even if you are working with a debt settlement company, you are still solely responsible for your bills, so lenders will come after you.

3) It might take longer than you thought. Many people facing mountains of personal loans, signature loans, credit card debt, payday loans, and other debts assume that debt settlement is a fast alternative. Most companies promise to make collection calls stop at once. However, the entire process can take months and can even have a negative impact on your credit rating.

4) It might not do anything for you that you can’t do for yourself for less. Some companies do nothing more than call your creditors and ask for late fees to be removed and interest rates to be lowered. You can do this yourself. Some companies do little more than find you consolidation loans. Again, this is something you can do for yourself at no cost.…

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3 Tips For Saving Money In the Summer

There are times of the year you expect to be expensive. The holiday season, tax time and back-to-school are all big budget busters, but one season that can sneak up on you is summer. Vacations are expensive of course, but there is another factor that nips at your wallet.


Kids or no kids, boredom can drill a hole right in the bottom of your piggy bank. Even if your schedule changes very little from month to month, the tendency to get bored seems to be exacerbated by the summer heat. We feel like we have to get out and do something, which usually means spending some cash. Here are a few ways to avoid those tendencies.

1. Plan entertaining activities that can be done at home. Instead of going to the theaters, plan an all day “escape from the heat” movie day.

2. Have a stay-cation instead of a vacation. Find a hotel in a nearby town or city and explore that area. The amount you save on travel (gas, airline tickets, rental cars) can amount to hundreds.

3. Enjoy the weather and have more barbeques, instead of going out to bars and restaurants.

For many industries, business slows down in the summer, don’t let the combination of lessened earnings and increased boredom land you in a tight spot.…

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Financial literacy is barely fun to say, let alone put into practice

It is a vague and broad term that instructs people to learn more about money. The importance of it is fairly understandable, but where do you start?

Becoming financially literate can include educating yourself on anything from credit scores to auto insurance. The task, however, can feel daunting, time-consuming and unimportant amongst your other major responsibilities.
Unfortunate Numbers

It has become clear that schools won’t be taking on the responsibility of filling in the blanks anytime soon. In a recent USA Today article, research cited that this year, the average score on a high school financial literacy test was 69%. Furthermore it noted that “twentysomethings” carried an average debt of $45,000.

That’s a lot of money and not nearly enough education.

For some it may seem simple: pay what you can when you can and save what’s leftover. While that reasoning makes sense, it doesn’t account for what could be lost by not understanding the basics.
Tackling the Information

Curling up with an economics textbook would probably do the whole nation a world of good, but realistically, no one is going to do that. No matter how important we know finances to be – especially in the wake of an economic crash – it is hard to convince yourself to dedicate time to furthering your own knowledge on the subject.

Instead of tasking yourself with learning all there is to know about money, take on the information that is most relevant to you current financial needs.

If you’re in need of a new car, start reading everything you can find on auto loans and insurance.

If you’re deep in credit card debt, begin exploring all of the options available to you and start developing an intelligent strategy.

If you or your child is about to enter college, find all of the information you can on student loans, , grants scholarships and the cost of college.

Becoming financially literate doesn’t have to be a giant dive into the economic world. It can be a situational-driven, step-by-step process that builds over time.

The consequences of ignoring the need, however, can be very greater than the minimal time spent learning the basics and applying them properly.

The USA Today article featured a statement made by National Endowment for Financial Education CEO, Ted Beck:

Financial Literacy in Credit

The area where most people get into trouble is when they are borrowing money. Whether it’s a credit card, a payday loan, a mortgage or cash from a relative, people without the proper education can get trapped in debt quickly.

The root of this problem isn’t laziness, carelessness or selfishness, though. The issue is a lack of financial education. Even people with Master’s degrees and Doctorates can suffer from this. Consumers often apply for loans and accept them without actually understanding what they’ve agreed to. It is within that knowledge gap that issues arise.

If you don’t truly understand the impact an interest rate will have on a loan, how can you be prepared for the payments?

When you’re unsure of what the late payment penalties are, how can you be expected to handle them?

If you’re repayment period is just an arbitrary number in the back of your mind, how will you know where your finances will be in the months to come?

It is crucial that borrowers are able to read terms and service agreements and truly grasp what they are agreeing to. Before you even apply for a line of credit, you should be spending time familiarizing yourself with the vocabulary and operations surrounding that type of loan. Additionally, it would serve you well to get a feel for the timely information revolving around the product.

Read news articles, reports and testimonials so you can get a broad view of what the risks and benefits are in today’s economy. For example, someone interested in a home refinance needs to know that rates are at an all-time low right now. However, reports have stated that the interest rates will be increasing in 2023. This information is crucial to determining the best time for a refinance.

Make sure you’re taking in as much information as possible before you make your next financial move. It is much easier to invest the time into learning first than it is to have to catch up after a mistake has been made. Financial literacy gives you a level of security that banks, lenders, regulations and bills will never be able to fully provide.…