Tips On Using Your Debit Card and Personal Finance Advice

downloadWhat is a debit card?

A debit card is one form of plastic money that is linked to your bank account and is as good as cash. You can use it in merchant establishments and pay up or use it in an ATM to withdraw cash.

What are the ten words on using debit cards and personal finance advice?

  1. A debit card is an excellent means to replace your cash. It eases you off the burden of carrying cash and at the same time provides you with the convenience of cash.
  2. Unlike cash you can keep track of the payments made through your debit card. This will help in keeping track of your personal finances as you may not remember where you spent that $18 last week if they go from cash but you will have an entry in the bank if you spend it through the debit card.
  3. You must handle the PIN number and identification details carefully. Most people are in the habit of storing their pins in their mobiles. While it is good to store the pin in a place that you can later retrieve from easily it should not be too easily viewable to others. What you can do is instead of storing your PIN as just the four or five digit number you can make it look like a phone number with the last digits the same as your PIN.
  4. Debit cards and personal finance advice are good instruments for people who are in the habit of overspending on their credit cards. You can have the convenience of plastic money and at the same time cut yourself off that unwanted credit limit by developing a habit of using your debit instead of your credit card at all places.
  5. If your debit card however is stolen it is relatively easier to be used than a credit card. This is because you can block your credit and stop payment in the case of a credit card but as soon as the debit card is used the money in your account is gone and therefore the first thing that you should do if the debit card is stolen is to call up your bank and inform them and stop the card transactions immediately without doing anything else.
  6. Here’s good debit cards and personal finance advice – Don’t give out your personal financial information about the debit or credit card over the phone or on the internet. In one incident an individual who was booking airline tickets was giving out his personal financial information over the phone and while the airline company did not cheat him he was overheard and since only numbers are required for online banking even without physically having the card the guy who overheard him still misused his card.
  7. With phishing attacks and viruses and Trojans becoming more and more sophisticated one can never be too careful while giving out their personal finance information over the internet. The key is to make sure that there are a few websites only which you use to purchase online and you make yourself familiar with them so that if there is any attempt of creating a mirror website and tricking you off your details you can spot something fishy and report to the authorities immediately.
  8. Debit cards act as a good mechanism for parents whose children are going out to college and are going to live separately. While on one hand it gives the parents the comfort to know that their children can get access to cash whenever needed at the other hand it also gives them a track of where the money is going and how frequently are the withdrawals being made.
  9. Another key thing to note is that while there is no fee for using debit cards normally if you are using debit cards and personal finance advice of one bank in the ATM of another bank there may be some fee attached to it. This is generally high as banks figure you will only do so when faced with no other option. So you should indeed do it when having no other option and keep at the back of your mind that its always better to not spend another couple of dollars when there is an option of saving it.
  10. And the last one which we all know but no one really does is its best to keep changing your identification number frequently as even if it leaks once the numbers can’t be used after a certain time period.

Author – Bill Darken – There’s a good student loan area along with more relevant general loans assistance such as home, car, and consolidation loans.

 

Commercial Finance Advice

Over 70 per cent of all residential mortgages in the UK are arranged through Brokers and in some sectors this figure is even greater however Business Customers are still in the main talking directly to their bank to sort out their commercial finance needs.

In the US, 80 per cent of commercial loans are arranged through brokers. In the UK, about 80 per cent of commercial loans are sold directly by lenders with only 20 per cent being arranged through Brokers.

Business Customers needing a commercial finance advice including a commercial loan or mortgage or other business finance product should find that an impartial finance broker has a lot to offer them by way of a professional service, delivering quick results and saving them time that would be better spent in their business rather than trying to source finance.

Commercial mortgage rates are rarely set in stone, unlike domestic and Buy to Let mortgages. Therefore each individual mortgage is priced to match the borrower’s personal circumstances. When a business customer has established a relationship with a bank they start taking advantage of that relationship because they know that arranging a commercial finance solution such as commercial mortgage, loan, factoring deal is time consuming and therefore they offer you a rate which has has no incentive.

If a business owner wishes to obtain the best deal in the market place then they need to commit time to researching the numerous commercial lenders that are in the market place and understanding the best source of raising business finance, understanding the terms and conditions of the product in the market together with the lenders’ processing requirements.

For Commercial property investors, it is important to consider the potential of a Business remortgage. Like residential mortgages, commercial mortgages can be refinanced to take advantage of more favourable terms, or they can be re-mortgaged to establish a line of credit to use for running the business. This is also true of other financial products such as factoring, invoice discounting as well. This will allow businesses to increase their margins by reducing their finance costs, and could allow further profit for further investment. This can also offer business clients a way to gain independence from their bank, separating debt from day to day banking arrangements.

 

Best Places To Find Real Advice On The Internet

There are so many websites out there that try to give small business financing advice it is hard to judge who to believe and who not to believe. However, there are three sources that I believe you cannot go wrong with when you are looking for small business financing advice:

1. Business Association Websites – The SBA is one of the best places for small business financing advice. As a matter of fact, it is one of the sites I like to use for brand new information. The SBA often releases breaking news when a new type of financing has become available, a lender has made the news, or new options for owners looking to build a new business are available.

Plus, the SBA website is a government website so you can trust that the information is factual. There are many other business associations that give out small business financing advice, but the SBA is my favorite. There is a link button on their site for other associations if you need more information.

2. Lender Blogs – Many banks and other financial institutions are starting to contain blogs with small business financing advice on the blogs. Lenders understand that not every business owner knows everything they need to effectively start a business.

They also know that sometimes new ways of financing are released, and their customers may not be aware. The advice given on lenders’ websites are full of real, authentic, quality information. Check out your lender’s website today to see if they have a blog.

3. Previous or Current Business Owner Blogs/Websites – Often the best small business financing advice sites are those of people that have actually lived the life of starting a business. They can give you tips from their own experiences. The ‘ins and outs’ through the eyes of a real business man or woman.

The relevance of small business financing advice is especially real when you feel you can relate to the author of the blog. Perhaps their advice is being given towards the type of business you have because they currently own a business similar to yours.

These are the three types of sites I visit often when I am looking for small business financing advice for my own business. I suggest you stay clear of sites that are written by people not associated with owning a business at all.

Many people ‘on the outside looking in’ want to give their advice to you. Stick with the professionals. You can feel confident you are getting advice from people within the business.

 

Personal Finance Advice For Life

The airwaves are filled with personal finance advice, advocating countless products, investments and disciplines for creating wealth and financial largesse in your life. With all the advice available regarding your finances it is easy to get lost and lose focus on the simple principles that if applied, have been tested to create wealth in your life.

Any sound personal finance advice plan should begin with the most important rule of money, and the one we often find so hard to find the discipline to keep. To create excess money in your life, one must first learn to spend less money than earned from month to month. This is an inviolable rule of personal finance, and I recommend you breaking it at your financial peril. Your credit, bank statements and retirement income will reflect directly how well you hold to this principle, so my advice is to without fail spend less money than you make.

Personal finance advice is filled with such maxims, but how do we follow this advice. If you do not already find yourself spending less money than you make, work towards this goal. Cut expenses and bills where you can, and seriously evaluate what spending habits you have that are need vs. want items. With a cold assessment of one’s finances, there never fails to be a series of costs that can be cut in the name of achieving this goal. Take my advice, do whatever it takes to spend less money than you make.

Successful money management has its rewards too, and is not all about just cutting the pleasures of life that can be purchased with ready capital and financial success. In following with this precept, the next piece of personal finance advice is to increase how much money you bring in from month to month. It sounds like basic financial advice, yet how many do you know in your own life that do not actively put focus and energy into increasing their monthly income.

These two essential pieces of personal finance advice should be applied at all times to your life. Always maintain a focus on finding ways to keep your spending below what you make, and a dedication to pursuing methods of adding more value to others in order to increase the money you are capable of bringing in each month.

The difference in savings and increase will surprise you. Do not get lost in the shuffle of personal finance advice, hold to these essential principles and build the common sense money habits that will create wealth in your life today.