You Can Get a Mortgage after Bankruptcy

Bankruptcy is the effect of a debtor not being able to pay off their growing financial obligations. Contrary to popular belief, you’re not a bad person if you have to file for bankruptcy and each person that does so has their own personal reasons for taking that step. In a lot of cases, it becomes …

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Spend Less on Valentine’s Day: Part 1

Valentine’s Day is most certainly a commercial holiday that prompts consumers to spend excessive amounts on the ones they love. A lot of people care about it simply because it’s another “holiday” to be pampered and gifted things. If you’re trying to find ways to spend less on Valentine’s Day, you’ve come to the right …

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The Upside of Debt Consolidation over Bankruptcy

Debt is not a new issue on the American conscience and it continues to affect more people every single day. When you combine the poor economic climate with the constant rise of the cost of living, it’s no surprise that things are spiraling further out of control. More people are being buried alive under a …

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How Internet Web Advertising Works

During the last decade, marketing tactics have changed as technology has advanced greatly. The print advertisements and commercials that were part of the 20th century are no longer relevant. The internet has provided advertisers with new ways to promote their goods and services. The internet reaches a wide audience. Gannett Company estimates that newspaper advertising …

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Finding the Right Health Plan

The enormous selection of health plans for consumers in most states can be very intimidating. After the Affordable Care Act (Obama Care) came into session, Americans could now choose to sign up for a policy directly through a carrier or they could choose their state’s insurance. With these new options, Americans now have a lot …

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Affordable Health Insurance for College Students

Being in college is already a hectic and taxing period for all students, but one thing a student shouldn’t have to agonize about is paying gigantic bills for healthcare. Students can find they have further alternatives when looking for affordable health insurance, with the Affordable Care Act. If you are enrolled in college and searching …

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Why You Should Be Weary of Financial Advice from Anyone

Maneuvering through treacherous financial times can be stressful and difficult to undertake. With anything in life, we sometimes find that friends and family alike want to give us their “best advice” as a way to help us through hard times. Most of the time though, that advice doesn’t help and instead leaves us feeling even more confused about our situation. Just because everyone has an opinion about your situation doesn’t mean that any of their opinions or ideas will ring true for your problems and you might wonder if you should be weary of financial advice you receive. Want to be able to better recognize a time when you should be weary of financial advice? Keep reading for a few key signs to look out for.

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Be Weary of Financial Advice!

Usually, you can be weary of financial advice from someone for a few different reasons, especially if:

·         You’re In Different Stages of Your Life.

Your grandparents or older aunts and uncles might not have the best financial advice to share with you. If you’re in your 20s, you’re in the heights of your prime and your grandfather’s advice that you should invest in money market funds and certificates of deposit might be useful, but you can certainly stand to gain a little more. For your grandfather being in his 60s or 70s, it probably makes the most sense for him to invest in these ventures to avoid losing everything when he has to focus on staying afloat during retirement. You on the other hand have at least 20 to 30 years to play around with more aggressive markets before you have to worry about taking less risk. There’s no doubt that the advice comes from an honest place, but it’s advice you probably don’t need to be worrying about until you’re nearing your years as a senior citizen.

·         There’s A Commission Involved for the Person You’re Talking To.

The general assumption that’s made when you walk into a professional money management company is that the person behind the desk is always operating with your best interests at the forefront of their mind, and this is just not true most times. Be weary of financial advice that entails communicating with a salesperson who works on a commission basis means that their top priority is most likely persuading you into the investments that secure the biggest commissions for them. Instead of the low-fee mutual fund that will probably suit you best, the sales representative could be trying to talk you into a different investment that serves them better than you. Make sure you’ve thoroughly studied your financial advisor, their merits and certifications before deciding to work with them. At the end of the day, you’re the only one that’s bringing your assets to the table, and you only want them to be used in a way that’s going make you feel most comfortable. A financial planner might try and size you up with physical cues based solely on your appearance and if they don’t try to understand where you’re coming from or the breakdown of your financial needs, you’re probably better off going another route. Be upfront and clear about the kinds of financial decisions you want to make and what you can afford.

More Reason to Be Weary

·         They Don’t Sound As Educated As They Try To Put On.

Have you ever had a conversation with someone and you get the sense that they can’t really know too much about what they’re telling you? It’s completely okay to be weary of financial advice that comes from someone too eager or misinformed to know the truth of the matter. Fast talkers and quick movers most likely don’t know too much about what they’re actually saying. You should definitely think twice and be weary of financial advice that doesn’t seem to make much sense when you take a moment to think it through.

·         They Seem To Be Talking Just To Have Something To Say.

You should definitely be weary of financial advice that gets casually discussed in social settings: around the water cooler at work, at a cocktail party or holiday gathering. Sometimes friends and family members really believe their tips and tricks can help you in your situation, but if you’re not getting all the details up front, the situation could be too good to be true. Most of the time it’s coming from a meaningful place, but relying on the advice of friends and family too often proves to be more hurtful than helpful. Small talk is great when it’s destined to be, but you can’t take most of the things that people say at face value.

·         They Don’t Seem To Have A Scope Beyond Their Own Viewpoint.

It’s easy for your uncle to tell you not to buy real estate because it’s a hassle, but what if he lives in a much different market than you do? There are certainly things he won’t foresee happening in his own picture.

Start Now to Make Your Budget Better

You may already have a budget set in place. If you do, there are always ways to make your budget better. All financial woes can be fixed with a budget plan set in place. Keep reading for tips on ways to make your budget better. The Beginning Stage ·         Get The Urge To Budget. Budgeting …

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How Millionaires in New York Can Increase Their Net Worth

Are you somebody that wants to increase their net worth? If so then we are of the same persuasion. The pursuit for wealth starts at an early age, starting with school, learning and trying to get good grades and eventually graduate and get a job that will keep us in the manner that we are …

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Canceling Credit Cards: How Is Your Credit Score Affected?

Some people that find themselves working with credit counselors, advisors and money gurus will sometimes get the feeling that the only answer they arrive at for solving their debt issues is canceling credit cards. This is a very misguided belief that can bring about the creation of new, worse habits when dealing with money and …

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