How Budget Budging Can Create A Life Free of Debt For You Today

By Jenni Snook

There's one thing I must clear up before I begin this article. Your budget is not a source of restriction. You can construct the life you've always dreamt of with it.

It's possible that you don't like the term personal finance budgeting. Another term, personal finance planning, may also not be your cup of tea. I know I don't. Anything composed of more than 1 word has the capacity to overwhelm us.

However, it would a waste of time talking about whether it's a term that we enjoy or resent. What we must know is that we will benefit much more than if we were to completely disregard it.

Why is this true?

The reason is that it provide us with the tools to help us build the life we've always dreamt of. Is there anyone who doesn't dream of debt-free lifestyle? The fact of the matter is that if you didn't, then you would be doing something else apart from reading this article.

So, how does one successfully build a life free of debt?

I will make this as least complicated as possible. Two simple words: Budget Budging. It's important that you never forget these 2 words because they will become a central part of your personal finance planning.

You may now be wondering, what is budget budging?

It simply means that you take control of your budget rather than being controlled by it. The most important part of this is dictating your budget. If you are able to dictate your budget, then you can dictate your lifestyle. Simple as that.

It's important that you firstly come up with a budget that fits your needs and follow it. Record all the money you spend to the last, in whatever form it may be eg cash, cheque or credit card.

By doing this, you know where your income is going. Once you know where your money is going, then you can easily proceed to creating an appropriate budget for you. Nonetheless, it is absolutely essential that your new budget still gives you a comfy lifestyle while it does the job of reducing your debt.

Eliminating waste should be the second thing you should do. You will soon discover, by evaluating all your expenses, that you are being wasteful with your money. It's important that you're ruthless during this process.

You might have to sacrifice some things. It can be helpful to think deeply about what you can really do without. Be honest with yourself. Don't hesitate to forego some luxuries that you don't really need.

In order to successfully cut waste, thinking short term is vital. It's important to think of the long term gain instead of the short term pain to do this properly.

As you begin this process of personal finance budgeting, you may find it uncomfortable and a bit complicated, but be assured that after coming up with a budget appropriate for your finances, you will have found the whole process worthwhile.

Is there anything else that would be happier than having a life without debt?

About the Author:

Jenni Snook is the main columnist of http://www.HealthyWealthySoul.com, a website focused on giving people advice and resources on personal finance budgeting to achieve both financial and spiritual bliss in their lives.

Fixing bad credit by buying seasoned tradelines

By J. Ochs

Can you buy a higher credit score by purchasing seasoned trade-lines? This question seems to come up more and more these days. The answer to this is a bit complicated, so let me see if I can give a simple easy to understand answer.

Purchasing a seasoned trade-line is the process of paying a monthly fee for having your name added as an authorized user to a seasoned credit account for the purpose of getting that seasoned account to report on your credit report. The goal of doing this is to add a good trade-line to your credit that will boost your credit scores.

Pros of purchasing seasoned reports - This is often successful to those with good, clean credit and are just needing a small step in their scores to qualify for the loan or financing that they are applying for. Tradelines are added and paid on just long enough to help with whatever financial situation you're working with, and then payments cease and will then fall off your credit reports.

Cons of paying for and adding seasoned trade-lines: There are several problems with using seasoned trade-lines that have now raised the brows of the credit bureaus as well as federal officials. Although there is nothing illegal about adding another person to your account, the biggest problem is in how these seasoned trade-lines are being sold. As I mentioned above, they are only appropriate for someone with already good clean credit, yet there are hundreds of companies on the Internet selling trade-lines as a method of credit repair. Buying seasoned trade-line when you have derogatory trade-lines on your credit will do little to nothing to boost your credit. In fact, it is a ridiculous waste of your money. With the cost of these trade-lines ranging from several hundred to several thousand per month per trade-line, it is not an effective solution for 99% of those who seek them. The other issue is that there are now changes underway by the credit bureaus to not include authorized user accounts in the credit scoring model. This will completely negate the effectiveness of seasoned trade-lines altogether.

The bottom line: For those seeking to improve their credit, there are far better, less costly, and more effective ways to accomplish this. For some great tips, visit our credit repair articles area. In addition, if you have bad credit and are in need of credit repair, there is no company that does it better than NCA Credit Repair. Call today and get a free consultation and make the decision for yourself.

About the Author:

Jon Ochs has over a decade of experience in the credit field and is the founder and CEO of NCA Credit Repair. Get your free credit consultation, and credit repair estimate.

Foreclosure Auctions Invite Home Bargain Hunters

By Michael Geoffrey

Buying a home at a foreclosure auction could be perfect for you if you are interested in purchasing a home for the lowest price possible. The courts will determine the price of foreclosure homes, which is most commonly below the market valued price of the home. If the lending agency that forecloses on the home requests that they do so, the court can use three different appraisals to determine the value of foreclosed property. These appraisals can be appealed by the lender, however.

For several weeks before the foreclosure auction is held, advertisements will be published. Remember that in the majority of states the house must sell for at least two thirds of the appraised value it was given. You should also keep in mind that there are not usually a lot of people trying to find inexpensive homes at foreclosure auctions.

Foreclosure auctions tend to be very simple events and the only people in attendance are often the lender who started the foreclosure process and one or two people who are thinking about buying the property. A foreclosure auction where lots of people attend and more than two or three separate bids are made would be a rare occurrence.

Getting Ready to Purchase a Foreclosure Home

The person who wins the bid on a foreclosure home is expected to present 10% of the price that was bid when the auction is over with. That payment can be made by cash, money order, or a certified cashier's check.

Most auctions will not accept these payments by credit card or personal check. The house will be resold immediately if the winning bidder is unable to make the 10% payment in an accepted form at the end of the auction.

The winning bidder will need to get a loan to cover the rest of the price of the foreclosure home they purchased at the auction within a predetermined period of time, usually thirty days. If they cannot get a loan to pay for the balance of the home price they will lose the right to purchase the home. They will also lose the 10% payment they made on the day of the auction. In order to prevent such unpleasant occurrences, most people set up the financing they will need before they bid on a home.

If a home is auctioned a second time due to the winner's inability to secure funding, if it sells for less than the first auction, the first auction winner may be responsible for the difference, as well as losing their 10 percent deposit. It is important to remember that sales through foreclosure auctions are final and the winning bid is considered a contract, promising to make the purchase.

About the Author:

Know how credit card reduction services can affect your credit score? There are some things you need to know before using these debt reduction services. Learn what you need to know on the Debt Smackdown website

Maintain A Reasonale Credit Score

By Jim Bransby

For many people, the most important number that you will have to keep in mind in making decisions about purchases and other major life decisions is your credit score. For many people, this number can alter decisions about where you live and what quality of life that you might have. Keeping a high quality credit score can be one key to living a comfortable life.

Many people, unfortunately, have no idea as to what their credit score is at a given point in time. This can be an issue, especially if you're looking to make a purchase, like a house or a new vehicle. Before you apply check credit report services to see what your score is.

If you want to determine your credit score then you should look into sites that will help you determine your score. There are three creditable sites online that will help you with this process. One of the sites is known as the FICO score which can range from 200 to 800. The higher the score the better off you are.

Many people think they have to pay to find out their credit score but this is not the case. Everyone can find out their score once a year for free. So, once a year an individual will be able to receive a full report of their credit history and what exactly is showing up on their report.

If you do find out that you have a bad credit score then you should try to improve this score immediately. Nothing occurs instantly so your credit score will not improve in a few days. You will need to work at improving your credit but in order to do that you should understand how your credit score is calculated in the first place.

Help is available for those whose credit scores are down through a variety of sources. Credit counseling services are available for those who need it, and credit bureaus have lists of recommended people to contact to help with problem credits. Do not hesitate to bring in assistance if your credit is in bad shape.

Many people do not believe this but your credit score can actually reflect you as a person. Many people will bad credit scores like to charge a lot of money onto credit cards. Then they will typically have high monthly bills that they are unable to pay on time which lowers their score. People with high credit scores typically do not charge a lot on their credit cards.

Keeping track of your credit score and making sure you pay your bills on time can help you live a more comfortable life. Make sure you know what your credit score is before you fill out applications to apply for a home or purchase a car. Keep up to date on your credit and you will be rewarded.

About the Author:

To find out exactly how you can get your annual credit report visit my credit report website.

Does Consolidation Loan Helpful?

By Mike Carbeck

Misusing credit cards is the main reason people run into uncontrollable spending and find themselves facing large payments combined with interest and penalties. Because it is so easy to use a credit card many people do not realize that every little penny adds up.

It is very easy to pull out a credit card and spend, spend, spend. For people who have a credit card with no preset spending limit, there is no amount of money limiting to what they can charge up on their credit cards. With no limit set, people spend money dangerously and do this without taking the time to think about the bigger picture, what happens down the road can be an ugly outcome.

Not only do you have to pay the monthly minimum, you are also charged with what can be a very high interest rate. If you find yourself in the horrible situation of out-of-control credit debt, there are several agencies that can help you out. These agencies will assist you in getting your spending under control and may even help you get a consolidation loan to pay off business or personal debts.

You apply for a consolidation loan in the same way as you do for credit cards, however this is where the similarities end. These loans will roll all of your credit card debt into one lump loan and will eliminate the individual interest rates that some credit card companies charge.

A consolidation loan allows you to make one lump sum payment per month, to one company. You take control over your credit card debt, lower your interest payments per month and can possibly preserve your credit rating. A consolidation loan can take the place of making many payments, to many companies, and by only paying the minimum monthly payment on your credit cards, you will continue being eaten alive by debt. These loans are a step in the right direction for some people.

It does not matter if you have perfect credit, the credit agency you choose can put you in touch with lenders who will still enable you to secure a loan. Your agency will negotiate with your creditors to get lower interest rates and may even be able to get them to waive possible penalties, thus saving you even more money.

There are two types of consolidation loans for consumers in trouble, one is a secured and the other is an unsecured loan. A secured loan requires collateral be guaranteed before this loan is approved. An unsecured loan requires no collateral before it can be approved.

These are just two of the many options available to you when facing mounting credit card debt and the results of reckless spending. The end result is that as a credit card holder it is up to you to make sound financial decisions, and if you find yourself knee deep in debt there are alternatives out there to help you get rid of the debt. This will allow you to rebuild your good credit and get out of the bottomless pit of credit card debt.

About the Author:

Learn more of what Mike Carbeck has to share over at http://www.debtmastering.com. Ready to roll back the confusion get rid of credit card debt.