Green or Blue Colors For Fireplace Insert Logs

If you owned a home with a fireplace, would you prefer to have a fireplace log that is blue or green in color? While this is likely a very strange question, its one that may be worth pondering further to help understand how your personality and style could impact your overall financial goals and saving pattern. Sounds too strange to be true, well there is a correlation to choosing colors and your personality types, and we can draw some conclusions from the choices you make based on the color (blue versus green) that you choose. Whether it is with a fireplace insert log, or something else that is equally as abstract is a process you will need to internally review.

Blue versus Gree when choosing your style of fireplace insert logs

So what step do you need when moving forward to determine which color is best for you? Are you a fan of blue, green or perhaps orange? Whatever color you choose may tie into your overall goals and outlook and tell more about your unique personality. Colors can have a telling sign into your overall psyche and testing your personality type can help you better structure your goals.

Is Utilizing Your Credit Card To Pay Off Your Car Loan A Good Idea

Many lenders allow you to use a credit card to make payment for a car loan. However, you may be charged with a convenience fee for doing so. The reason why they charge convenience fee is that they want to offset the expenses for processing credit card payments. If there is a processing fee, you will have to calculate whether it is worth while for you to use your credit card to make payment.

You must remember that you will pay more interest fees when you use a credit card to pay your car loan. Now, you are not just paying interest for the car loan but also the interest of the credit card. The only turnaround to this problem is to settle your credit card debt in full every month.

Using a regular credit card to pay for the car loan allows you to earn cash back, miles or reward points. Credit card is unsecured while car loan is secured which means your car can risk getting repossessed if you default on payment. On the other hand, if you default on payment on the credit card, you will suffer from the consequence of a big drop in your credit score. Before resolving to use a card to pay your car loan, you should discuss with the lender about your financial situation. You can persuade the lender to waive payment for 1 month or more.

You may want to consider transferring the balance of your car loan to a balance transfer interest-free zero percent balance transfer card often feature 6 – 21 months of interest free intro period. Credit cards’ interest fee is usually higher than the car loan interest rate. This is why you should strive to pay off the entire debt before the expiry of the intro promo to avoid interest charges.

You should check with the credit card company about the balance transfer fee which is in the range of 3% – 5%. Ideally, you should only transfer up to 30% of the credit limit. Low credit utilization allows you to maintain a healthy credit score. Once you finish paying off the balance, you will be the owner of the car.

If you are lack of money to pay your car loan, you can withdraw cash advances from a credit card. You can then deposit the money into your bank account and make car payment in the usual manner, for example, direct transfer or check. The downside is that this method is costly as cash advance is known for their high interest fee charges.

It is important to always have an emergency savings set aside. In case you lose your job or a financial circumstance occur, you can use your savings to continue making payment so that your debt can be erased within a short time.

Can You Use a Personal Loan for Home Improvement

A personal loan is suitable for covering home improvement expenses because home improvement is counted as a personal expense. You can borrow as much as $40,000 from a personal loan to fund your home improvement project. Unlike HELOC, personal loan is an unsecured loan that is not tied to a property. The lender will not cease your property in case you face a financial circumstance and cannot pay back.

Personal loan is the best choice for homeowners who don’t have enough equity. It is also suitable for those who plan to use their home equities for other expenses. For example, some homeowners plan on using their home equities to pay for their children’s education. It is time to take out a personal loan and carry out some makeover on your house if you owe more on the mortgage than its market value.

Personal loan is a fixed rate loan with a repayment period that last from 3 – 5 years. One benefit is that it enables you to pay off the entire loan by simply submitting the fixed monthly amount (principle + interest) until the end of the repayment period. This makes it a better choice than credit cards as credit cards allow the balance to roll over to the next month provided that you pay the interest.

The best place to find cheap personal loan is your local credit union. If you feel it is troublesome to visit your local credit union, you can sign up for online personal loan. If you apply for the loan online, you will be able to receive the funds faster. Just like bank, you also have to submit some paperwork which include documents of the financial activities in the past 2 years. If your financial documents are approved, they will send you an email that inform you about the interest rate and repayment term.

You will have to put down a digital signature on the online agreement in order for the loan to receive final approval. Once the loan is approved, you can expect to receive funding in 1 – 2 business day. With online personal loan, you can avoid paying the prepayment penalty when paying off the entire loan early. Some online personal loans like Marcus loans also waive the late and origination fee

The approval terms of the online personal loan depend on a few factors including credit score, annual income and debt to income ratio. If you have bad credit, you must rethink carefully whether to take out that loan because the interest rate you pay may be expensive, its also a good idea to review your credit profile in advance from credit agencies such as experian or transunion. If you couldn’t get an unsecured personal loan, you can turn to secured personal loan which requires you to pledge your property as a security.

Financial Advisors Can Help You Stay On Track With Your Money Goals

A  Guide to Financial Advisors and Retirement Planning

It is never too early or too late to start thinking about retirement. The best starting point is to look for a financial advisor who can help you on your journey. A Financial Advisor is dedicated to helping you map out your finances in the most beneficial fashion; they have a deep and broad knowledge of money management.

Why Hire a Financial Advisor?

A Financial Advisor is more than just a third-party planner. They become your partner, your guide to the world of finances. A Financial Advisor is an educator, guiding you to understanding your goals and how to meet them.

Some Financial Advisors specialize in certain money management techniques while others can guide you from tax preparation at the beginning of your career all the way through retirement at the end. Some services that Financial Advisors specialize in are as follows:

Financial Planning

The all-around approach, these are the advisors that walk you through every stage of your finances. They help prepare your taxes and investments and help you save for major expenditures and retirement.

Income Tax Preparation

These advisors can help guide you through the complicated tax code and ensure you receive the best return or owe the least amount.

Investment Advisory

Investment advisors help you understand various tasks from navigating the                                     stock market to supporting startup businesses.

Retirement Income Planning

These advisors focus help you focus on each aspect of retirement: investments, pensions, social security, taxes, etc.

What are the benefits of Retirement Planning?

Upcoming generations face longer lifespans and a greater dependence on personal savings through retirement. You do not want to live a paycheck-to-paycheck or be stuck in the workforce. A Financial Advisor knowledgeable in Retirement Planning can help you know the best savings plan, will help you reach your goals, and will answer any questions in the process.

How do you choose the right advisor?

Remember that some advisors are willing to work remotely— you are not limited by your location. The best place to start is looking at credentials. Legitimate advisors will be certified with a CFP, PFS, or CFA. For retirement planning specifically, keep in mind specialized training certifications like the RMA or RICP. An advisor gets bonus points for being a member of NAPFA, meaning they continued learning past their certifications and are fee-only investors.

You will want to research the differences between fee-only and non-fee-only advisors. While commission-based and hourly rate advisors are great for smaller tasks such as tax preparation, long-term partnerships work best with fee-only advisors.

Reaching Your Goals

You have worked hard to earn a living; you deserve a calm and well-planned retirement. A Financial Advisor can help you reach that goal in the most efficient and least confusing manner.

How Personal Loans are Approved With Some Mainstream Lenders

Every online loan company has its own criteria for approving the applicants. Prior to signing up, people usually will fill in an online form to request for loan pre-approval. The loan pre-approval process is fast and you can usually get a response with the estimated interest charges in the same day. This estimated interest charge is for comparison purposes when you are shopping around.

If after researching the details of the loan, you feel you want to go ahead and apply it, you can fill in the actual loan request form at the lender site. The form will ask you to provide your personal, financial and employer information. It is important to provide truthful information when filling out the loan request form.

If you deliberately include false information, they can find out and black list you from applying a loan in the future. In the form, there is an attachment feature that lets you attach the necessary documents such as pay slip, address proof, and identity proof. If you aren’t sure what documents to submit, you should not hesitate to give the customer support a call.

The entire process of the online personal loan approval can take 1 day – 2 weeks. During the loan approval process, they will carry out a thorough check on your finance background including what job you do, how long you have been doing the job, and etc. They will review your bank savings account to find out how much money you usually keep in the bank.

Having an established credit history can give you an advantage on receiving a low interest rate. When you have an established credit history, the creditor will see you as a low risk borrower. They trust that you will have no problem in paying back. If you have any outstanding debt, make sure to pay it off first prior to applying. Paying your bill on time consistently can help you to attain a good credit score. Those who have a credit score of 680 and above can expect their loans to get approved fast.

You can request for a credit report from the credit bureau to check whether you have a good credit history and credit score. The first report that you request from the credit bureau is free so make use of it when applying for a loan. If there are errors on your credit report, you must immediately inform the credit bureau so that an investigation can be carried out to confirm it. Fixing a few errors on the credit report can increase your credit scores.

Once you get approved, you must commit yourself into repaying the due amount by the due date every month. Borrowers who have low credit score will see their credit scores rise when they steadily make repayment every month.

If You File Bankruptcy, What Happens to Your Personal Loans

According to the Bankruptcy Code lists 19, personal loans are typically dischargeable when you file for bankruptcy (chapter 7). You can file for bankruptcy with a court yourself or with the attorney. You will have to pay for a few fees including attorney and filing fees. You will still have to pay for the filling fee even if you file for the bankruptcy yourself. Several documents must be prepared when you are filing for bankruptcy including financial record for your asset, debt and expenses.

Prior to filing, you should receive credit counseling with an approved provider. The credit counseling should take place within 180 days. Upon completing the course, you will receive a certificate. The certificate must be attached along with the application form otherwise they will reject your filing.

If you keep on receiving calls from your creditor, you should provide them with your case number and filing date. Doing so can stop them from bugging you with phone calls. The filing date can be found on top of the bankruptcy document that the court send to you. It is next to the page where your case number is.

You should receive the bankruptcy document along with all copies of the notices even if you have a lawyer to represent you in the court. By providing your filing date, the creditor will be able to verify your bankruptcy and stop making cold calls. Sanctions can be taken against the creditor if they did not stop making phone calls.

The majority of the people who are forced to file for file for bankruptcy are not considered to be wealthy or rich. The median income is only about $35,000. Filing for bankruptcy allows you to be discharged from your debt and also slow down the repossession of your house and car. It will also affect your credit rating as the record will stay on your credit report for up to 7 years. It also help to put an end to the collection actions that your creditor has taken against you like eviction, wage garnishment or entering into liens.

Filing for bankruptcy gives you a second chance to start all over again but it have a long term punishment. During this time, it will be hard for you to get a loan because of the record in your credit report. It is a strenuous process that can take at least 6 months or more to solve the situation.

However, it is a good time for you to think things over and plan. You can how to you can become financially disciplined and have a fresh start again. It is best for people who believe that they will take over 5 years to repay the debt. There are other alternatives like debt settlement or debt management that can take up to 5 years to solve the problem.

What is the Most You Can Borrow on Peer to Peer Lending Platforms

The amount you can borrow from the p2p lending platform usually ranges from $1,000 – $40,000. You have to post a thread on the p2p platform stating how much you would like to borrow. Investors will visit your thread and place a bid on how much they would like to fund a loan. The loan can get approved as long as you have 70% funded. As soon as it is approved, you will be able to receive the fund in your bank account within a period of 2 weeks.

As you know, p2p lending platform is different from traditional banks and lenders. They do not fund the loans based on their own capital. Rather, the loans are funded by individuals who have jointed the platform to lend money to people. These individual lenders make money from the interest rate and other fees charged on the borrower. They decide how much interest fee you have to pay.

Usually, when you apply for a loan on the p2p platform, the company will first perform a background check on you and then assign a grade. They will not reveal the grade to you. Only the investors will be able to see the grade. The grade shows whether you are someone who is responsible in financial management.

The interest rate that you pay will be based on the grade that you receive. The investor will take a look at your grade and decide whether they want to extend the loan to you. The advantage of taking out this type of loan is that it has a low interest rate starting from around 6% – 10%. Having an excellent credit score can help you to obtain the lowest interest rate for the personal loan.

Besides the interest rate, you also have to pay an origination fee. The origination fee may range from 1% – 6% of the loan amount and it will be deducted directly from the loan amount. Most p2p lending platforms have a minimum credit score requirement of 600 – 650. You can apply the loan as a joint application. In joint application, one applicant must meet the credit score requirement and the other applicants can have a lower credit score. The credit score of the other applicant must be not lower than 540.

P2P loans can be used for debt consolidation purpose. Some lenders can pay off your creditors directly so that you don’t have to submit the payment manually. Only a certain percentage of the loan can be used for debt consolidation. Prior to applying, you can fill in the loan request form at the official site to get pre-qualified first. Pre-qualifying for the loan will not cause your credit score to drop in anyway.

Can You Refinance a Personal Loan from SOFI

Sofi loan is suitable for refinancing an old personal loan because of the relatively low-interest fee. The interest fee for the Sofi personal loans is from 5.49% – 13.49%. The average interest fee of a 3-year loans at Sofi is 8.9%. Choosing the shortest repayment term enables you to get a lower interest fee.

Having a good credit score also play a role in helping you to enjoy a lower interest fee. You have the option to choose a fixed or variable interest rate. Fixed rate means you the same installment fee every month. Variable rate is low at first but it is likely to increase during the lifetime of the loan. It is wise to choose a variable rate loan if you take out a short-term personal loan to consolidate your debt.

Sofi debt consolidation personal loan is ideal for people who are tired of having to make multiple payments every month. The lower interest rate makes it possible for you to pay off the loan in a shorter period with more excess cash for you to spend on other things. Besides, they do not charge any origination, prepayment and personal check processing fees. There is a 4% or $5 whichever is lower late fee as a penalty for waiting until after the 15 days grace period to make payment.

With Sofi, you can borrow an amount from $5,000 up to $100,000 to consolidate your old debts. The amount that you get approved will depend on your disposable income, debt to income ratio. The disposable income is calculated by deducting your monthly expenses from your gross monthly income. Credit score is not the main factor that is being taken into account by Sofi when determining whether to approve the loan.

Residents of California and Michigan can check their rate by filling in a loan request form at the official site. If you live in other states, you will have to compare the rates at other loan comparison sites. Filling in the form to check if you will get prequalified for the personal loan. To get qualified, you need to have a good credit score that is above 660. You can easily get approved if you have a credit score of 700 or higher and a median income 101,000.

Getting a debt consolidation at Sofi does not reduce the amount of your actual debt. It simply makes it easier for you to repay it by lowering the interest and fees. After you get approved, make sure you focus on repaying the due amount promptly. Sofi does report to the credit bureau so your repayment will affect your credit score. You will see more points add to your credit score within a few months of making prompt repayments.

3 Creative Ways to Use a Debt Consolidation Loan to Save Money

Getting a debt consolidation loan is one option to pursue if you are stuck with a lot of high interest bills and expenses. The high interest may contribute to you with constantly feeling under pressure and dealing with the stress that you won’t have enough money to meet your financial deadlines. It is hard to negotiate for a lower rate with your lender so you might wish to get a loan to consolidate your debt. The following are three creative ways on how you can use a debt consolidation loan to save money.

1. Online Personal Loan
The first method is to get an online personal loan to consolidate your debts. You can take out the online personal loan from the online lender or peer to peer platform. You only have to apply the amount that is equal to your debt from the lender. The lender will assess your credit score to determine your risk level. If you have a low risk, the lender will quickly approve your loan. The lender can distribute the funds to all your creditors or you can use the funds to repay back the creditor yourself. The advantage is that now you only have to make a single monthly payment to pay off your debt.

2. Home Equity Loan
The second method is to borrow against your home equity to consolidate your debt. There are two ways to borrow against your home equity including home equity loan and home equity line of credit. In the loan, you receive the full amount in closing. In the line of credit, you will receive a checkbook that you can write check. The amount you write in the check is the amount you borrow. The interest will only be charged on the amount that you borrow. Home equity loan can have a repayment period of 15 – 20 years. You must be responsible when you use the home equity loan to consolidate your debt. If you don’t, your house can get repossessed by the bank.

3. Retirement
The third method is to borrow against your retirement such as 401 (k) or 401 (b) or pension. This is a last resort for people who cannot get a loan from the bank or credit union to consolidate their debt. The advantage is that it has more favorable lending terms when coming to repaying the loan. It is much easier to pay back a retirement loan than when you are borrowing from a lender. This type of loan also tend to have lower interest rates and fees. The downside is that you could lose your retirement savings if you fail to pay back on time. Prior to borrowing against your retirement, you should call the bank and ask how much you have in the account.

3 Alternatives to High-Cost Payday Loans if You have Good Credit

Payday loans is a costly option for people who urgently need to borrow money to cover some temporary expenses. Usually, payday loans are applied by people with bad credit and cannot go to a regular lender to obtain a loan. If you have bad credit, you should try building up your credit until you have good credit. There are better alternatives that offer low APR interest rates when your credit report shows that you have good credit score. The following are the 3 alternatives to high cost pay day loans for people with good credit score.

1. Online Personal Loans
If you have good credit, you may be eligible to apply for an online personal loan with low interest rate. Apart from your credit score, there are many things the lender will want to see before assigning you a low interest rate including steady employment and low debt to income ratio. You can borrow $1,000 – $35,000 or more from a reputable online lender. They are fast in reviewing and approving your applications. Sometimes, an online lender can approve your loan in the same business day. Unlike a bank, you can expect to receive the money fast in your account in 1- 3 days. You can take anywhere from 3 – 7 years to pay back a loan that you apply from an online lender.

2. Peer-to-Peer Loans
There is a type of loan called P2P loans that is different than the online personal loan. This type of loan is issued by individual lender or more than one individual lenders rather than an online personal loan company. With P2P loans, you can borrow a small amount of lesser than $100 up to tens of thousands of dollars to meet your temporary financial needs. You can also get low APR from 6% when you apply a loan from peer to peer lenders. You can get approved if it is funded by at least 75%. Usually, the it will take up to 2 weeks to release the funds from the p2p loan. Just like the P2P loan, you have to repay the loan in 3 – 7 years. Various types of fees like origination fees, and administration fee apply.

3. Credit Cards
Another alternative is to get a credit card. With a good credit score, you can apply for zero percent rewards credit card with a long intro promo that last for more than 1 year. Currently, the card with the longest zero percent intro promo is Citi Diamond Preferred with 21 months intro promo. There are other cards with 18 months intro promo like Citi Simplicity, Citi Double Cash, and Discover it 18 Months Balance Transfer Offer. You don’t have to pay any interest fee during the zero percent intro promo.