The teaching profession is sometimes not valued as much as it should be. Teachers educate the next generation and the country as a whole is certain to benefit. It is logical that the financial sector will see teachers as a good risk when it comes to lending money. Likewise teachers who can see a career path in front of them are likely to see real estate as a good investment for the future. They can build an asset over the years of their career and with preferential rates, terms and conditions it requires little thought to get into the property market.
The real estate market is dependent on the availability of home loans. Prior to the recession the value of real estate was on a steep upward climb. Lenders became fairly relaxed about checking on the suitability of mortgage applicants and there were even mortgages provided for more than the property valuation. Presumably they felt that the risks were minimal? If an applicant defaulted then the value of the asset when they foreclosed would have risen anyway. What they did not take into account was that if large numbers defaulted there would be minimal demand to buy any real estate that became available. That was the reality when the crash came and as a result prices dropped alarmingly.
The recession lasted for a few years and although the USA economy has certainly improved the commonly held belief that real estate was always a good investment took a hit. Fortunately in the medium to long term that belief is still valid.
A New Environment
The problems have changed the environment however. Traditional lenders are conscious that they need to avoid building up toxic debt again and therefore are looking for more security from their applicants. There is clearly a perception that some citizens are likely to be more reliable than others. Equally there are professions that ought to guarantee employment and teaching is one of them. It makes sense to get good qualifications and those who then enter the teaching profession can expect their hard work to be rewarded. Lenders have decided that teachers are a good risk and home loans for teachers reflect that view.
Astute lenders understand that it is possible to process applications that have all the documentation in place fairly quickly. The question of the size of the down payment raises the subject of lenders having sufficient security to approve a 2500 instant loan. In some ways the security is the applicant and in the case of teachers they obviously deserve some credit for their professional status.
Have you ever considered how much money you could make if you took the time to gain some insight about your investing options and had access to sophisticated and up-to-date resources? Do you feel like you have worked out a dynamic plan for the future that will allow you to maximize your potential profits and maybe even enable you to retire several years early?
In a nutshell it boils down to working out and setting aside from your monthly earnings a figure that you feel comfortable dedicating to a designated purpose, be it your retirement or to generate extra cash, perhaps both.
Let’s consider security and retirement needs. If you happen to be in your late teens or early twenties, that is the ideal time to purchase a term life insurance policy and lock in the very low monthly premium. Unfortunately, money put into a savings account will not collect enough interest to keep up with the rising cost of living. Buying mutual funds is a wonderful way to indirectly invest in the stock market. They can range from aggressive growth to a more balanced portfolio: The latter reduces both potential risk and return. If you follow this route for generating retirement income and even if you use a financial advisor it is still vital to routinely monitor the performance of your portfolio and make adjustments when necessary. A more involved and assertive approach still, is to allocate for both retirement and extra income.
Although Social Media and Hollywood make the idea of throwing piles of cash around and driving sports cars across the world look like it’s easy, for most of us it can seem like a world away. With Instagram accounts dedicated to watching rock stars and models play poker, it can leave you feeling a little green. However, with a little bit of foresight and a pinch of attitude adjustment, sitting on a heap of money really isn’t all that difficult. Check out these tips to save money, and build yourself a little fortune whilst you’re at it.
When it comes to direct debits and utility bills, companies will very rarely have your best interests in mind. When your contracts come up for renewal, always be sure to challenge the offer and look elsewhere, you can save literally hundreds of pounds on things like phone contracts, home/car insurance and water bills.
- Get Rid of the Things You Don’t Need
Sitting on an endless stack of DVD’s that never get touched courtesy of your shiny new Netflix account? Sell them and make some extra cash, and additional space in your home. Places like Music Magpie, CEX and eBay make for a perfect place to sell your unwanted video games, cd’s and movies. Also things like unused musical instruments or gym equipment can be sold on places like the Facebook Marketplace or Craigslist to guarantee that end up in the right place.
Imagine that you’re moving along just fine. Things are going well at work, and everyone likes you. Your home life is sound, and everyone is committed to working together. But what happens when a sudden financial emergency comes out of nowhere? Take your car, for instance. If you have to make heavy car repairs, doesn’t that throw your schedule off balance? It’s difficult to imagine having to take care of things so quickly but it happens every day. What would happen to your job if you couldn’t drive there every day? Some of you out there are lucky enough to have colleagues that would drive you to work every day but many do not have this option. The ultimate decision to make here is the one that’s going to bring things back to normal.
Here is a huge opportunity to overcome any financial emergency quickly: fast cash loans. Now, these aren’t the loans that you’re thinking of from the past. The loans we’re talking about are confidential, available online, and deposit funds into your account fast enough to tackle just about any emergency that you can think of. If you need to have the car repairs paid for so you can go back to work, but payday is far away, you can take care of it and go back to focusing on what really counts.
There are many people who think that short term loans are a really bad thing. They feel that they are too expensive and risky and they would not like to use them and think that other people should not. However, we are all different and they can have advantage for many people. It can be worth knowing more about them to see whether they are something that would ever suit you.
Often a short term loan can be made available to people who have a poor credit rating. This means that they may not have any other way to borrow money. Although some say that this means that they are lending to the most vulnerable, it does provide a way for those who really need money and have no other way to get it. It could prevent people from becoming homeless by allowing them to pay rent, stop them having utilities cut off as they are able to pay their bill or provide them with much needed food.
The short term loans are also really quick to arrange which means that they can help anyone get a cash loan in an emergency. If they have a maxed out overdraft or credit card or do not have one, there may be no other option for them but to find the money elsewhere. If there is an emergency and money is needed really fast, perhaps to replace a broken white good, buy food or pay a bill, then this can be a really useful option.
Budgeting is something that often fills people with dread, but we’ve never been able to really pinpoint why. Of course, we do get letters from all of our readers. They talk about how they know they should budget, but they still never do it. They just go from month to month, blindly paying bills and following some sort of unspoken set of rules. It’s better to have a plan every month for where your money’s going. After all, it’s your money and it’s up to you to protect it as well as help it grow. Money can’t do anything without your decision making process being involved. In other words, if you want your money to grow then you’re going to have to look at your budget very carefully.
Since summer is giving way to fall, we thought it would be a great time to look at setting up a budget, as well as smarter money management tricks.
So, what should you do first? Well, it’s time to take a real inventory of how things are going. Have you noticed more use of credit cards instead of cash in your bank account? This might be a warning flag that your spending is out of control. It’s time to clip back spending by making better decisions. Do you need to make that sale, or are you just trying to do it in order to fit in with your friends? Trying to keep up with your mates is a big reason why you could be in serious financial trouble.
You may feel like you are in a financial hole so deep that you will never get out. Bankruptcy might look like the only way to solve your problems and get a fresh start. It’s not that easy, though. New laws that just came into effect have made it much harder for you to get a discharge of your personal debts through bankruptcy. That doesn’t mean that your situation is hopeless. The first thing you should do is work to get your debts under control. Here are three techniques which will help you do just that.
1. Find out what you are facing. Quite often the problem seems bigger than it really is. Gather together every debt that you have, write down what you owe and who you owe it to. Once you take a look at the problem on paper you might feel better about it. At the very least you will have a definite target to work towards instead of an uncertain enemy called debt. Once you have your debts listed, you can begin to make a plan. Look at the expenses that you can’t avoid – rent, car, etc. – and plan to pay them. Next, look at the interest rates of the other debts and determine the best order to tackle them. Once you have a plan and decide to stick to it you are on your way to a solution to your financial problems.
2. Cash or nothing. At the beginning of the month take a specific amount of money from your cheques in cash. This is your disposable income for the month. When it is gone you are done for the rest of the month. Essentially, you are giving yourself an allowance. It will be a shock at first, but after a while you will get used to this strict type of budgeting and you may even like it. It is empowering to use this method, because it allows you to set aside the money you need to deal with debt payment so you can pay off your debts more quickly.
3. Get your family involved. You may have got yourself to this point alone, but you don’t have to get out of it alone. Get your family involved. Be honest with them and let them know that you can solve the problem faster if you work together. If you turn saving into a game for kids, they will actually enjoy it. Have them look through the papers for coupons. Make it a game to see how much money your family can save in a month. Think of a fun but inexpensive prize you can give yourselves is you save more one month than you did the month before.
4. Say goodbye to ‘stuff’. Our houses are full of stuff that we are sure we needed at the time, but that lives in our closets now. We never use it and we don’t need it, but someone might. Use eBay or have a garage sale to get rid of the stuff that you can live without. You will feel better living in an uncluttered home and you will be surprised how much money you can raise doing this.