August 8, 2008

Skip the scams

I’ve long thought that advertising offers some of the best entertainment on television. Admit it - you do, too, don’t you? Gone are the days when the ads offered a few moments to run to kitchen to refill your beverage or dash down the hall the bathroom. We stick around instead and are rewarded with comic relief. You’re still laughing at that silly gecko, right - even though you’ve seen him at least a few hundred times? Don’t you find your toe tapping every time you hear that poor schmuck singing about some hacker stealing his identity, and don’t you know just where to insert your own “Yeeehaw!” into his song? If you accept all this for its entertainmant value and move on, fine. Let’s face it, though: advertising is designed to motivate you to buy something you didn’t even know you wanted. Okay, that’s fine, too. We live in a capitalistic world and everyone has a right to sell things. The problem comes when the advertising is deceptive. Take the afore-mentioned fellow selling fish to tourists in tee shirts as a for-instance. First of all, he really is a singer, but the ad is so fake that it’s not his voice warbling out the ditty. He’s got a French-Canadian accent that didn’t fit the All-American advertising campaign, so he’s a singer pretending to be a singer in the commercials about fake identities. Ironic, no? Still, that’s just a little bit of harmless deception, something we all expect in advertising, right? The real deception is in the message he’s delivering. The free credit reports that could have changed his future? Not free, despite the focus of the ads and the name of the website. If you order your free credit report and miss the fine print on the site you’ll be billed $12.95 monthly for credit monitoring. Trying to cancel the service once you discover the deception is a nighmare. Your call will be answered by someone whose sole purpose in life is to keep your $12.95 a month rolling in. New York Times bestselling author Bob Sullivan did a good job of unmasking the scam on MSNBC’s wbsite and also points you in the right direction for getting a genuine no-strings-attached free credit report. Do that. Everyone should know their own credit score. Everyone should monitor their own credit too, but let’s face it - most of us don’t. Do you have the technology to know immediately if someone has stolen your identity and is planning on ruining your life? I’ve been robbed before - twice. It’s an awful feeling to know that some scumbag has been going through your things and has taken what they wanted. That was in the dark ages, though, before we’d ever heard of the term identity theft. These days the thieves don’t have to bust your car window or break into your apartment. Your information is out there and the bad guys are sophisticated enough to know how to get it. Identity theft is a reality we all need to be prepared to deal with. That’s where the services of a professional credit monitoring service come in. Skip the scams and sign up instead for one that will be upfront with you about what they offer. Lifelock doesn’t feel any need to lie to you to get you to try their service. They sell credit protection and they’re justifiably proud of what they do. You know LifeLock - their CEO is the guy who plastered his real Social Security number on billboards and trucks and buses across the country so you could see how confident they are that they can protect your identity. Lifelock doesn’t just offer identity protection services, either. They’ll reduce junkmail and unwanted credit card offers too, and give you a $1 million service guarantee, all for only $10.00 a month. Wouldn’t you rather do business with someone who doesn’t think they need to lie to get you in the door? I would!

Technorati Tags: credit reports, free credit reports, identity theft protection, LifeLock

July 10, 2008

What’s your BillsIQ?

Do you know your BillsIQ? I just took the quiz and I scored 84%, which is acceptable only because I’m an ostrich when it comes to finances. I’d much rather keep my head down in the sand than know what’s going on. If you’ve been reading my blog you know that my professional license was due for renewal last week and I couldn’t renew because I was behind on my taxes. Here’s the thing: the money for the taxes was in the bank, but I procrastinated myself into a corner that was pretty uncomfortable. I took a week off to get my paperwork all in order and I’m happy to say that my taxes are paid and I’m back at work, license intact. Taking the Bills IQ exam reminded me that I really need to set up a budget and live within it, and that paying bills on time (like, say - my tax bill!) is pretty important to my financial health. The results also recommended that I consolidate debt and establish a retirement plan. All common-sense advice, and all things that I should be doing. The results weren’t 100% on-point in my case because the questions assume that you have credit cards. I don’t, so I had to “work around” a couple of the questions. Still, taking the test is a good way to see how you’re doing in several areas of financial health, and to find solutions for areas where you need some help. At the end of the test you’ll be able to compare your results with others, by gender, income, geography, age and education. I guess it’s good to know that I’m pretty close to the averages in all of those categories, but above-average would be better. Being “average” means that I’m late with my bills sometimes (even when I have the money in the bank) and that I haven’t done any solid financial planning. Well, yes, I am smarter than that, but too lazy (or maybe too unfocused) to do what I should do. Seeing my score and the explanation for the answers was a wake-up call. I’m getting close to retirement age and don’t have a lot of years left to “get my act togehter” if I want to have something to live on after I quit working. Maybe it’s time to start taking responsibility for my financial health, ya think? Maybe you could use a friendly reminder, too? Take the BillsIQ test and you’ll have a good picture of your own financial health.

Technorati Tags: BillsIQ, debt, financial health

June 5, 2008

Credit cards

I don’t have any credit cards. Yeah, I know what you’re thinking - how can I get by without one? Easy - I use my debit card or write checks, or use PayPal if it’s for online purchases. Did you know you can’t use credit cards when you’re in bankruptcy? Yep, that’s a fact. I had several and they were shut down when I filed for Chapter 13, even though each had been paid off monthly and none of them had any debt on them. I filed for Chapter 13 protection so I could have time to catch up on my house notes without losing my home, but I didn’t have any other massive debt. The house was the only thing I had fallen behind on. I didn’t get any new credit cards after I paid out the bankruptcy, even though everyone was sending me pre-approved offers. Who needs the hassles?

Well, actually, I do. Y’all know that my life is a mess because I tend to not pay attention to details. You should see me trying to separate my expenses when tax time rolls around. I tend to lose about half of my receipts, so I go through my bank statements trying to remember if the $10.99 purchase at the hardware store was for my business or for home improvement. Hmmmm! Three hundred bucks to Costco, but what was office supplies and what was just general stuff? You see what I mean? It’s real mess trying to figure things out when you’re as sloppy with your finances as I am. So I’m thinking that I should look into getting a credit card for my business. I know it would make my accountant happy. The poor guy hides under his desk when he sees me coming with my paper bag full of crumpled up receipts and bank statements because he knows that I won’t be able to tell him what most of it means. Monthly credit card statements that have only business purchases on them would fix the problem, for him and for me. Which credit card to pick, though? There are so many credit card companies, and each offers something a little different from the next. I need to do some research first and I’ve found a site that can help me out. Credit Cards Club offers credit card reviews for all of the major companies, and has them broken down by the type of cards you are interested in. So if I want a Business Credit Card I can go to their site and see what each company offers, what their fees are and how much interest they charge. Since everything is right there on one site I can compare apples and apples without having to go to each separate issuer’s site. There are some handy articles, too, that explain the ins and outs of each type of credit card, so that’s helpful in making decisions about where to start. My bankruptcy lawyer told me to get a credit card - any credit card - as soon as the bankruptcy was paid out so that I could start building a new credit history. I meant to do that, but you know me and my procrastinating! I guess late is better than never though, and I’ve got two good reasons to do it - to make my accountant’s life easier and to rebuild my credit - so wish me luck, folks. I’m taking the plunge! You should check them out next time you’re ready to apply for a credit card, too. It just makes sense to get reviews of all of the credit card companies in one place, don’t you think?

October 11, 2007

The Wealth Expo

Y’all know that I love my island paradise home. I’d be crazy not to. After twelve years I’m pretty firmly planted in Hawaii. Having a home and a business here, it would be difficult to move anywhere else anyway. Still, there are some things that I miss and always will. Proximity to friends and family is at the top of the list. Familiar places and regional cuisine are near the top. The ability to hop in the car and take off for a road trip - I really miss that. Any travel outside the state is time-consuming and requires a lot of advanced planning when you live on a dot in the middle of the Pacific. When you blog about a weekend getaway to see a concert in Chicago or driving to New England to watch the leaves turn I get a little jealous. I miss a lot of opportunities to indulge in events I find posted on the web, too. You’ll recall that I recently had to borrow against the equity in my home in order to pay a backlog of taxes. My finances have stabilized now, but that means that I’m accumulating more personal and business taxes daily. I’d love to be in New York next week to attend the Wealth Expo at the Jacob Javits Convention Center. There’s a Friday afternoon session on asset optimization, Tax Free Wealth Accumulation, that I’m sure would be beneficial to me. I’ve only got perhaps ten more years of working life left in me, but Uncle Sam is taking such a big bite out of my income that there’s nothing left for me to set aside for retirement. I believe the wisdom of the saying that you should always pay yourself first, but I’ve never quite known how to do that. The Wealth Expo would be a great starting point for learning the things I need to know. They’ve gathered some of the savviest minds in business and finance to teach the secrets to their success and will also provide some great opportunities to network with other successful people.

The Wealth Expo, sponsored by MyWallSt.net: Your Financial Social Network, is three days of intense sessions jam-packed with seminars and keynote addresses on every aspect of investing and financial management. If you can be anywhere near the East Coast from October 19 through Oct 21 you’d be doing yourself a great service to attend. The keynote speakers are well-known investment professionals, and you can visit exhibitions by some of the largest public and private companies in the world between sessions. Breakout sessions will give you the opportunity to select topics you’re especially interested in, and there will be cocktail hours on Friday and Saturday so you can mix, mingle and network. Here’s the info you’ll need to get you started:

Where

Jacob Javits Convention Center
655 West 34th Street
New York, NY 10001

When

Friday, 10/19: 1 p.m.-6:30 p.m. EDT w/ a cocktail hour to follow

Saturday, 10/20: 9 a.m.-6:30 p.m. EDT w/ a cocktail hour to follow

Sunday, 10/21: 9 a.m.-4 p.m. EDT (no cocktail hour)

Why

Because you’re worth it! Road trip, anyone? Go! Learn from the best!

Technorati Tags: asset management, business, finances, investments, tax planning, The Wealth Expo

September 26, 2007

Business financing

I started my business with a small inheritance from my father. It wasn’t much, but start-up expenses were not much either: a van, some inspection tools, insurance and licensing, a computer and some office supplies were all I needed. I was very fortunate to have the money to pay for everything up front, but most people don’t have that luxury. With a solid business plan, though, business and restaurant loans are available to help you launch your own business. You can be up and running in a matter of weeks if you start the ball rolling today. Have you always wanted to own a business or restaurant? Follow the link and you’ll see how easy it can be to get started!

Technorati Tags: business, business loans, business financing, restaurants loans, restaurant financing

May 19, 2007

Student debt

Do you remember back in the good old days when you could work your way through college? A good education has always been expensive, but it wasn’t so very long ago that “pay as you go” was possible. Middle-class families could send their kids off and, with the supplemental income of a part-time job, the student could graduate debt-free. Those days are gone now and obtaining a degree means assuming a huge debt. My friend Drew graduated three years ago. He’s been paying steadily on his student loans ever since, but has fallen into arrears a few times. I think he might need to consider a school loan consolidation to reduce his monthly payments and interest fees. That would help him pay out the balance years earlier than is now possible. It’s a shame that young people have to carry such a huge burden, but once the loans are paid I know that Drew will be able to enjoy a more stress-free life and really begin to experience the benefits that will come from all of his hard work. He’s a bright and ambitious young man and I’d like to see him starting to get ahead!

Technorati Tags: debt, education, student loans

April 30, 2007

Banking on good advice

I talked to my financial advisor last week. You remember, that great guy who helped me get a terrific rate and refinance my home in less than a week when I found myself in a financial bind a while back? Yeah, that’s the one. He really got me out of a tight spot. For that I will be forever in his debt. What we talked about last week was savings in general and where I should put my money in particular. He provided me with some information about the various plans he offers and emailed me some rate tables. His absolute best rate is currently 2.97% with a minimun savings balance of $5000.00. As much as I love the guy, I can’t do it. I’ve worked hard for my money. I need it to work hard for me. I can’t afford to put my savings with him when I’ve discovered this: Online banking interest rate comparisons at SavingsAccounts.com will help you find the best high yield online savings account or checking account. It’s true. I just checked the online rate tables. I can get a 6% saving rate on a new account with no monthly fees and no minimum balance. My fabulous banker encouraged me to shop around for the best rates before making my decision. I’m glad I did. I’m still his biggest fan, but my savings account needs to be where it can do me the most good. I’m sure he’ll understand that. He’ll probably also think that the timing was perfect when I came across this offer from savingsaccount.com to provide them with a sponsored post.

Technorati Tags: banking, savings, online banking, interest rates, sponsored posts, payperpost

April 4, 2007

Investing for retirement

Back when I was in my twenties and waiting tables at night to supplement my day job, I had an investment plan. I opened a mutual fund account and also put a little money into a savings account from time to time. That worked quite well for me for about ten years, then my mother got sick. My family promised to help when I quit my job to become her caretaker, but they didn’t come across. During her illness I used up all of my savings and was worried about losing the home I was renting. That didn’t happen, but when Mom died I found myself in dire straights and with no savings at all. That was a couple of decades ago. I make a decent living these days, but have never re-established a financial plan.

My current situation is this: I’m in my early fifties. I own a small business that is seven years old. I have no retirement plan, no benefits at all. I have one son. I know that he would put himself in the poor house to take care of me if the need ever arose, but that’s my worst nightmare. I don’t want to become the burden that makes him have to start all over as I did. I’m not getting rich, but I’m making a living these days. I’ve plowed my modest profits back into my business and into fixing up my raggedy house. When I re-financed the house I borrowed some extra to get health coverage and set up a retirement plan. The money is still sitting in the bank while I try to decide how to proceed.

My banker has recommended some modest and safe savings options. The interest on those is also modest, in the 2-3% range for small investors. That’s a good place to start, but, with less than ten working-years left in me, it will not provide the kind of money that I will need to retire. In order to accumulate a decent retirement income I will need to take some risks. I’ve been looking at several options. Global Futures Exchange and Trading Company, Inc. is one of those options and I like what I’ve learned about them. First and foremost, working with their firm I can minimize my risk by distributing my investment money into several different plans. With a minimum initial investment of $250 I can open an account to test the waters. They will set up a demo that will let me explore several investment scenarios and see how they will perform based on current market trends. I am most interested in forex and futures trading because they offer the highest possible return, essential in my situation with only a few years available to build my nest egg. Living in Hawaii, I’ve learned to deal with the frustration of squeezing my business contacts with the mainland into a shortened day. With GFE&T that won’t be a problem because they offer 24/7 live support. They’re very up front in advising their clients that “There is risk of loss trading Futures, options and forex,” but without an element of risk I know that I will never achieve my goals. Initital contact can be establish by emailing them at GlobalFutures@GlobalFutures.com or by a one-click option on their website.

I’ve shared one of my basic philosophies with you before. I believe that everything happens for a reason. It’s therefore no coincidence that I found the opportunity to create a post sponsored by Global Futures Exchange and Trading Company, Inc. at a time when these matters are very much on my mind.

Technorati Tags: investing, finance, futures, forex, trading

February 21, 2007

Meet Steve

Steve Martin. Steve Allen. Steve Irwin. Steven Spielberg. Stevie Nicks. Steve Jobs. Steve Buscemi. Stevie Wonder. Steve Winwood. Steve is a popular name with a long and honorable history. I even have a brother named Steve. All of you Steves out there started off in life with name recognition. But let’s face it folks, if your name is Steve, you need something special to make you stand out from the crowd.

Steve Vornea must have known that. At the age of eighteen he began making a name for himself at a boutique investment bank, kicking off his life-long career in finance. After becoming the bank’s #1 producer, he moved on to provide leadership and/or to start up other successful businesses, including FinanceCampus and e-Mind. He’s had a stellar career in finance, technology and real estate business for seventeen years, and today Steven Vornea is the Chief Executive Officer of CFA Capital Partners. Under his able leadership, CFA Capital Partners offers creative financial and investment opportunities. With an impressive history of providing strong leadership and outstanding business growth for multiple companies in different industries, Steve Vornea is uniquely qualified to direct CFA Capital Partners and drive them forwards as they assist clients nationwide to source, underwrite, structure and negotiate loans and investments.

CFA Capital Partners offers commercial lending solutions through true direct lenders so that their clients will have immediate access to the capital they need to move forward. With Steve Vornea at the helm, they’ll assist you in finding the custom-tailored, asset-backed solution that fits your needs. You should get to know another Steve today. This one is in a position to help you realize your dreams, and sponsored this post so you would know that.

Technorati Tags: business, finance, payperpost

February 6, 2007

Learn from my mistakes

My regular readers know that I’ve recently found myself in a financial mess. I was very fortunate that secured loans are available to homeowners and I was able to rescue myself. What’s so embarrassing to me is that I should not have gotten into such a mess in the first place. I had a very good business year a few years back. Never having had a lot of money on hand, I handled the excess very poorly. I re-roofed my home. I bought my first ever brand new car to work out of. I upgraded some worn-out features on my home and added a new room. And I paid for it all in cash. The expenditures were all appropriate and needed, but paying cash was a huge mistake. I found myself with nothing left in the bank when other expenses came due.

I’ve learned a lot from the mistakes I made. As my readers know, I got a remortgage quote and was able to bail myself out. I even borrowed a little extra against the equity in my home to catch up the bills that accumulated when I ran out of money. It really feels good to be back on firm financial footing. And now that I have a better understanding of loans, I know how to handle the additional work my house needs. When I am ready to remodel my kitchen and bathrooms, my first step will be to find out about getting a home improvement loan for the work instead of using up money that should be going into a retirement fund and savings.

I love my new room and the other changes I’ve made to my home, but the entire process has been very painful and stressful for me. It doesn’t have to be that way! If you’re planning on remodeling or upgrading your home, your first step should be to fill out a mortgage application so you can borrow the money that you’ll need. If what I went through serves any purpose at all, perhaps it’s to be the bad example for you so that you won’t have to repeat my mistake! UK Personal Loan Store sponsored this post, and you can learn all about doing it right on their site.