More Than Finances

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Auto Financing: Learn About Using Home Equity Loans to Buy Cars

Think Outside the Dealership for an Auto Financing Solution 

If you are in the market for a new car, but haven’t secured auto financing yet, you may have more options than you think. Home equity loans are often overlooked by homeowners as an opportunity for buying a car, yet they provide distinct benefits and in many cases, more favorable terms than auto loans from a traditional car dealer.

Four benefits of using home equity for your auto loan

Auto financing with home equity loans, including home equity lines of credit, can be an affordable option you’ve never considered before. There are unique benefits to borrowing with a loan secured using your home as collateral, which can include::

  • Lower interest rates: Home equity interest rates, whether fixed or variable, are often lower than standard auto loan rates.
  • Potential tax-deductible interest: Utilizing home equity for a car loan may provide the opportunity to deduct the interest at the end of the year. To be sure, talk to your tax adviser before making your financing decision.
  • Negotiating power: Using your home equity for auto financing means that by the time you walk into the dealership you can be approved and ready to buy. This can increase your negotiating power and make it possible for you to take advantage of dealer rebates rather than financing specials. Plus, you will avoid any potential for dealership mark-ups on auto financing.
  • Flexible repayment terms: If finances are tight, the minimum payment during the draw period on a home equity line of credit will often times be lower than on a standard automotive loan.

Smart repayment can ensure you take advantage of interest benefits of home equity car loans

To make sure that you are taking advantage of the benefits home equity loans can provide when used as a source for auto financing, you should be aware of the potential pitfalls. This means recognizing that your vehicle, new or used, is a depreciating asset.

  • Make more than the required minimum payment every month. Because the minimum payment requirement on a home equity loan is lower than on a car loan, paying only the minimum can negate the benefits.
  • Pay off the loan before you trade in your vehicle. To save by using home equity as your auto financing, you need to make yourself accountable for paying the car off in the time period standard for auto loans. If you are thinking of trading in your car after five years, make sure your home equity car loan is paid off before then.

Get approved for a home equity loan before you head to the car dealership

If you think utilizing your home equity as a car loan might be the right solution for you, take the time to start the approval process online. Walking into the dealership with an approval letter in hand can improve your car buying experience and help you to get the vehicle you want and the price you deserve.

Sponsored content was created and provided by RBS Citizens Financial Group.

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How To Survive Unemployment

What’s the future when you find yourself unemployed? Do you have one? Well, that depends very much on who you are and whether you are ‘a glass half empty or half full’ kind of person.
There’s no doubt about it, surviving unemployment becomes more difficult the longer you experience it, but there are ways to turn over the card life has dealt you.
Being proactive is probably the greatest asset you can adopt and you need to actively maintain this state of mind. Having a positive outlook will make a massive difference to how you cope with this difficult situation. Here are some ideas to help in re-assessing your options.

Top tips to survive unemployment.

If you used to leave work on a Friday and then enjoy your weekend, you still can. Come Sunday night, though, start planning what you are going to achieve on Monday. Make this a routine. Find a journal and get into the habit of writing in it every day. Make plans and design a schedule. Things don’t just happen; from now on you have to make them happen. So make a plan of everything you want to achieve in a day. Have different columns for different things:

  • Job Search
  • Application
  • Skills Search/Update
  • Domestic
  • Confidence Building

You can make up your own headings but these are basic ones.

  • Create a column with money saving and money making tips. If we worked as hard trying to save money as making it, we could probably cut down some of the hours we needed to work anyway. Think about how to make money even when you are unemployed. You might start a backyard or garage sale, clear out everything that is no longer any use like CDs and DVDs, for example, and sell them – be ruthless.
  • Review your skills. Is there a skill you have never earned money from? Think hard. Perhaps you repair electrical goods, can offer computer solutions or lessons, are an expert at painting and decorating, or you could possibly become a freelance writer or designer. Maybe you could become a freelance translator. Do some voluntary work, you never know who you might meet, what experience you might gain or what opportunity will come your way. The important thing is to check out opportunities: the internet is full of them.
  • Doing someone’s garden, cleaning, ironing, dog walking and so on are all stop gaps, though some people have turned them into thriving businesses. They may not be great jobs but they can be a stepping stone to running your own enterprise and are things people always need help with. Identify a need and offer a solution, it shows initiative.
  • Keep up routines, think about updating your skills and your CV. Consciously save some money for your ‘escape fund’ and maybe use this to enroll in a course. Check out free ones wherever possible.

Now you are home, can you save household expenses by shopping more carefully, checking out bargains, cooking for yourself, avoiding convenience foods that are expensive and freezing food. You might write a blog entitled Surviving Unemployment and end up getting advertising on it!

The most important thing is not to be closed minded about your situation, be curious, keep busy and keep looking. Unemployment may be just the opportunity to give you the life change you have always wanted.

Just because there is no paid work it doesn’t mean you need to be ‘unemployed’!

This article was brought to you by musicmagpie.com, the site where you can sell your old technology, clothing, DVDs and CDs for cash. If unemployment has left you pinching pennies and looking to free up cash, visit the site to see what you could raise through selling your unwanted stuff.

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3 Ways to Increase Your Income – If You Dare

3 Ways to Increase Your Income - If You Dare
If you’ve reached the point where you have a comfortable income that covers all of your expenses and then some, you may be ready to find new ways to make your money work for you. You may have your eyes set on a higher income that will allow you to do more in your life.

If this is the place that you find yourself in, there are several different, unconventional, investment strategies that you may want to try.



1. Forex trading

Forex trading is not new, but now that the market has opened up, more and more people are taking interest in it. Like any other investing types it is important to make a Forex broker comparison to make sure you are using the cost effective company.  Forex trading is not for the faint of heart as there is the possibility of losing your money. However, if you take the time to investigate this type of trading and study FX trading strategies, your chances of making money, and a decent amount, improve greatly. Learn how to execute successful forex trades by trying demo accounts, studying the markets, and asking those around you who are forex traders.  There are a lot of differences

2. Peer to peer investing

Peer to peer (P2P) investing is another recent newcomer on the investment scene. There are two main companies, Prosper and Lending Club. People who perhaps cannot get a traditional bank loan or who would prefer not to take a cash advance on their credit card apply for a loan at a P2P. You decide which borrowers you would like to loan money to. You can determine what criteria you want each borrower to have before you lend them money. You’ll also want to spread out your investments over many borrowers to minimize your risk.

3. Stocks and Bonds.

Of course, you can always invest in stocks and bonds, but if you’re looking for an investment that is a bit less conventional and offers a potential high rate of return, forex trading and peer to peer lending may appeal to you.

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How to Save for Your First Home

There is sure to come a point in your life when you feel that you’d like to bid farewell to renting a house and consider buying real estate. In some parts of Australia, such as Ruchcutters Bay in Sydney and Carlton in Melbourne, a mortgage will be cheaper. Fantabulous resources for finding Australian property are websites providing listings of real estate such as homesales.com.au.

The Biggest Purchase That You’ll Ever Make

Amassing the money for a home is dissimilar to most of the other saving you’ve ever done. Usually, the amount will be larger than you’ve ever saved for before, so you can look forward to a longer timeframe. The sum required is infamously hard to calculate, but it will be considerably less frightening if you view it as a monthly amount and not a lump sum. The larger is your deposit, the more flexible will be the mortgage and the lower the interest rate. A graphical tool will motivate you to save, for instance, a money thermometer. In the time leading up to your purchase, you could save money by sharing a house with friends or, horror of horrors, your folks or in-laws.

How to Store the Money

The money intended for a house should be kept in a savings account that yields interest and is devoted solely to the task. Temptation will be avoided if you can’t make withdrawals. A fixed proportion of your salary should be paid to this account, a sum as sizable as you can comfortably manage. You can again negate temptation if your employer makes this deduction. Windfalls in the shape of tax rebates and gifts should be used for this purpose and not frittered away.

Adhering to a Budget

You absolutely must set a budget and then adhere to it. Purchases should only be made when they’re utterly unavoidable – you can free up a great sum by avoiding impulse purchases under all circumstances. When shopping, it’s best to draw up a list and then stick to it. Conducting your shopping when less other people do is another way to save money, for example, outside of the Christmas period. Used items will be cheaper. The clothing you buy should suit many combinations. Credit cards are to be shunned, as the money spent on interest is not as productive as saving towards a home of your own.

You can save yet more money by spending less on outside entertainment. You could eat in and not out. Your existence won’t be monastic if you invite friends around.

Where to Get Money

Money can be obtained by selling such assets as clothes, old jewellery and collectibles. You’ll be pleasantly surprised at how much other people are willing to pay for the things you no longer need. You could rid yourself of cheaper unwanted belongings at a car boot sale. If none is to hand, you could organize one yourself if you make contact with other families. Any of these measures brings the additional reward of leaving you with less to transport when you buy a house and are ready to move in.

This is a time when every penny counts.

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How a Cash Advance Can Give Your Finances a Boost

When factors put pressure on financial resources – whether travel costs, food price rises, energy bills or other essential spending – savings diminish. There might come a time when funding sources temporarily dry up just when you need them the most. What to do when your bank account is already under stress and you’re saddled with an unexpected cost, such as emergency appliance or automobile repair? Could a quick cash advance on your wages help you out of a jam?

As long as you have a steady income and resources to pay back money borrowed on time, a cash advance from a short-term loan company could help you out faster than your own bank, as most operate 365 days a year and can get cash to you quickly, some even operating 24-hours a day. Read on to learn more about precisely what a cash advance is, and how it may be able to provide assistance in the midst of a financial crisis.

What is a cash advance?

A cash advance is a short term loan against your near future income. Proof of identity, income and personal checking account are usually required by lenders. A payday loan company can, upon approval, deposit cash funds into your account anywhere from 15 minutes to 24-hours after a loan is requested.

How do I know if I qualify for a cash advance?

As long as you have proof of income or the ability to repay the short term loan by the due date, most applications should be approved. Qualifications such as home ownership are not always required by some companies.

How to apply for a cash advance loan

For more information, simply register with the company from which you choose to borrow. Most can verify and loan emergency money the same day. Always read the small print and only borrow what you can reasonably afford to pay back. There’s no need to panic when financial crises arise when you borrow from a responsible lender.