Financial Advice – Financial Information Tips

In this video, I have told financial advice and some basic financial information tips in detail. Personal finance is all about understanding one’s own finances, setting goals, and then working to achieve them. Financial planning also takes into account the future and how that will affect a person s personal finances. It can help you learn what you need to do now to get your finances in order so you won’t have to worry about them.

Here are some financial tips definitions and  information that will hopefully help you save   money or get out of debt savings pay yourself  first start now stashing 10 of your income in   an emergency savings don’t use it for anything  but real emergencies keep a for sure savings   account for yearly expenses you know are coming 

And you can estimate also have a buy stuff account   if you do you’ll be able to avoid many financial  disasters which will face you and you can avoid   borrowing money from high rate lenders borrowing  don’t borrow money unless you are willing and able   to pay back failure to pay debts on time causes  severe financial emotional

And family problems   only for needs or for things that increase in   value many lenders will loan you money you can’t  afford to pay back especially high rate lenders   co-signing don’t co-sign on the loan unless you  are willing and able to pay back often co-signers   end up paying off loans they are unprepared for 

And financial hardships follow numerous costs   in yours now have negative credit ratings because  a primary borrower paid late many lenders do not   notify the cosigner before reporting delinquencies  or repossessions to the credit bureau compare   before you decide who to borrow from compare find  out who is offering the best

Deal at that time   look for the loan with the lowest rate apra apra  the annual percentage rate apra it is the standard   rate so we may compare the cost of borrowing it  is the cost of credit expressed as a yearly rate   when you borrow always be 13 apra some have been  illegally stating other rates such as weekly or  

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Monthly rates compare rapper to opera if you pay  your bills on time and you aren’t overextended   you can nearly always find loans or financing  arrangements at rates lower than 13 but where   though because beating 13 percent does not always  mean you are getting a good deal for instance the   difference in total interest paid on

An 11 versus  an 8 30 year 100 000 mortgage loan is 64 283   result in great savings to borrowers if the   if you don’t run up debt similar to what was   just consolidated but beware because consolidation  loans usually result in substantially more money   out of your pocket into the lenders for instance  mortgage loans

Usually involve closing costs   but increasing the length of payback  which substantially increases the total   interest paid borrowers who refinance unsecured  debt eg credit cards into a home mortgage also   increase their risk of losing their homes also  remember to keep all of your payments current   until the old

Debt is paid off too many people  have damaged credit ratings and aren’t bad   money which didn’t come when they expected it   expect delays when applying for loans especially  consolidation loans don’t spend money before   you desperation don’t get desperate for money  the more desperate you are the less likely you  

Are to get a good loan auto insurance keep your  auto insurance current if you fail to keep your   insurance up to date you could end up making loan  payments for years after your car has been totaled   establish good credit to avoid bad credit don’t  borrow too much and do pay your bills on time   inexpensive ways to establish

Good credit one  obtain a good credit card when you charge things   pay off the balance each month on time and pay no  interest two establish a revolving line of credit   an empty loan is an overdraft protection against  bounce checks and don’t use it as a loan three   get a loan to buy a car or furniture or etc and  pay

It off within a few months late fees to avoid   late fees which multiply the cost of borrowing  pay early or at least on time for possessions   to avoid repossessions and associated fees pay  early or on time and keep your insurance current   credit cards if you swell great tools if used  poorly financial ruin if you’re too

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Impulsive   fees pay off your entire balance each month   on early or time most charge no interest if the  balance is paid off within the billing cycle   if you pay only the minimum required payment like  one in four americans you lose unauthorized use   of credit cards if a charge which you did not  authorize appears

On your credit card statement   follow up your dispute in writing within 60 days   to ensure your rights disputed items if you were  dissatisfied with a product or service you charge   with your credit card first make a good faith  attempt to resolve the dispute with the merchant   credit card provider and file an official

Dispute   do this within 60 days of the charge to preserve  your rights and avoid negative credit etc debit   cards if you or someone else uses your debit card  money is deducted from your checking account for   pre-authorized purchases a hold is placed on your  checking account usually for an amount larger than  

The expected charge this hold can cause other  checks or charges to be returned if you don’t   have a sufficient cushion of funds in your account  or a backup system overdraft line of credit loan   once funds are deducted from your account it is  often difficult or impossible to get your money   refunded don’t use a debit card

For mail order  telephone or internet purchases even if you don’t   get what you ordered you may not be able to get  your money back reconcile your checking account   the sooner you do it the easier it is as soon as  you receive your bank statement compare it with   your check register item by item make sure both  you and

The bank have recorded things correctly   the statement includes unauthorized deductions   although you may not be technically responsible  if someone steals your checks and forges your name   funds which have been deducted from their account   including consumers negligence bounce checks   to avoid costly bounce checks

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Tie your checking  account to a revolving line of credit an empty   loan if you have such a pre-arranged plan and  write a check for more than your available balance   a loan advance is made to pay the check if you pay  off that loan quickly most financial institutions   charge you very little in interest and fees keep 

The line of credit reserved as your checking   else bounce check fees are very costly beware   many banks automatically provide very high cost  pounds protection programs for those who don’t   solicitations don’t give your account numbers  credit or debit cards or your social security   they may not actually be who they

Claim to be   they may fraudulently use your information and  the damage done to you financially or to your   horrendous waste of your time money and energy   trying to correct the problems investing if you  can’t afford to lose it don’t speculate with it   the greater the rate the higher the risk risk-free  nothing

Is risk-free especially nothing involving   money too good to be true if something sounds  too good to be true it is don’t fall for the   scams heed the clues credit repair be wary of  credit repair services some claim to be able to   fix bad credit if you have an accurate information  on your credit report you may contact the

Credit   you have had credit problems any attempts to   remove the relevant information from your credit  report are illegal fraudulent and only temporary   so don’t forget to check them if you like the  video then like and share it and give your opinion   through a comment if you haven’t subscribed to  this channel

Yet then do it now and also press   the bell icon so that you can get notifications  of my future videos thanks for watching

Transcribed from video
Financial Advice – Financial Information Tips By Investor Pro