Student Loans Company

The firm responsible for managing the student finance system is tightening its procedures for recovering debt as it writes off nearly £29m.

The Student Loans Company (SLC) has adopted new ways of tracking debtors' work and income status and chasing European students returning home.

The move comes as the public debt from student loans reached nearly £26bn. This is nearly double the debt it had at the end of 2005, six months before variable tuition fees were brought in. The introduction of the student finance package in 2006, under which students borrow indirectly from the government through the SLC to cover their tuition fees and maintenance costs, meant public debt increased significantly.

Students are now expected to graduate with total debts of about £23,000, a recent survey suggests. Write offs. A spokeswoman for the SLC said it regularly reviewed its processes and strengthened them where necessary. "There has been a tightening of processes in terms of recovery. As a business we are constantly reviewing and improving what we do."

She added: "The SLC has established new robust processes. Those staying in the UK are expected to obtain a National Insurance Number and make repayments through the UK tax system.
"But those borrowers who move will have repayments automatically scheduled if they fail to respond to SLC by next April. "This will enable default schedules to be set up, borrowers traced and, where appropriate, legal action will be taken."

Tax records

The steps are being taken as the SLC writes off or cancels £29m worth of public debt. This represents 2,500 student loans, 1,700 of which were written off or canceled as a result of death. However, the SLC is keen to point out that not all of these deaths occurred within the past year and that a backlog from previous years was cleared. Loans are written off when recovery is deemed unlikely by the loan administrator or not possible by legal judgment. They are canceled when the debtor is no longer duty-bound to repay. Students do not have to repay their loans until they earn at least £15,000 a year. The firm's own figures showed that 227,000 debtors still had their employment status to be determined.

The SLC says this group includes people who have changed jobs and are paying back their loans but waiting for their HMRC records to be updated, people who are unemployed but not on benefits and people who have gone back to study full time or part time.

Source: news.bbc.co.uk/2/hi/uk_news/education/8323160.stm

LOAN SHARKS

Nowadays, there are thousands of people in Wales are caught in a trap. They need money fast, but can't get a loan from a bank. And that's why one kind of lender is flourishing.

Loan sharks live in the heart of communities, lending money to anyone who needs it. But if you can't pay it back, that friendly face can suddenly become a lot more sinister.

Around a thousand loan sharks are operating in Wales, lending money illegally without a credit license. And they're not afraid to use violence or blackmail to get their cash back. Steven Hay who manages the Illegal Money Lending Unit which was set up to help the victims of loan sharks and bring the lenders to justice.

He said that Loan sharks are a very big problem in Welsh communities and there are many people who are getting a lot of calls from people in miserable situations, they are working on cases in more than half of the local authority areas in Wales. And they think from the calls that they are getting that the problem is increasing as a result of the current economic downturn. Loan sharks prey on the vulnerable, and they really do bleed them until there's nothing left

And if you borrow from a loan shark, they often won't tell you how much you'll have to pay back. and the interest rates can be crippling. For one recent victim of a North Wales loan shark it was 149,000 %. and the customers of loan sharks are often scared to speak out, in case of reprisals. B

'Carol' first went to a money lender several years ago. Her was on a low income she borrowed money for clothes for the children, food, electricity, gas and water bills. She met them through friends, who said they knew someone who'd lend me money. They didn't tell you how much interest she would pay. and I think they're a friend, I don't know any different. Carol borrowed a few hundred pounds but struggled to pay it back, so the loan shark lent her more money - and she was soon deep in debt.

She was paying £1,000 pounds a month. She didn't have any money left for herself. Then she borrowed more money off them again. She was paying them with her benefits and disability money. It was just hell because she had to make sure she paid them all the time.

The 24 hour loan shark hotline is run by a special team based in Cardiff. The Illegal Money Lending Unit was set up to track down and prosecute loan sharks - using information from the public. They also offer support to more than a hundred victims. "People are hesitant to come forward for a number of reasons," team manager Steven Hay explains. "They're ashamed, embarrassed, scared. There can be threats, there can be offers of sexual favours - it can get quite horrible.

The Illegal Money Lending Unit helps victims like 'Claire'- "I borrowed four or five hundred pounds", . "I was still paying them two years later, it never seemed to end. I'd ask them when it would finish and they'd just give me excuses." When Claire lost her job she found it difficult to meet the repayments.

"I didn't have enough", she explained. "I couldn't eat properly, couldn't clothe my children properly. If I couldn't pay, they threatened to beat me up in front of my children. If the door knocked I'd be petrified, I constantly had my phone by my side and I''d lock the windows and doors. I had no confidence, I was so scared."

Claire only borrowed a few hundred pounds - but she actually paid the loan shark almost £4,000. Each loan shark may have hundreds of customers, so their profits can be huge.

Steven Hay's team carries out surveillance, to catch illegal lenders in the act. Ten Welsh loan sharks are currently awaiting prosecution and there are twenty five other cases in the pipeline. The unit also tries to educate people who are potential targets for loan sharks.

We followed Steve when he met a basic skills group in Trowbridge, Cardiff to discuss the dangers. The women in the group were aware of loan sharks operating in the city. "I've been approached by a local store, myself and a friend, by a local shark. They approach you and in a matter of two hours you can have what you want off them," explained one woman. Another commented: "It spreads so quickly, with people saying I've got this money and suddenly you have a big group of people who are into the same problem."

So what are the alternatives to loan sharks? Credit unions can be a cheap way to borrow money. They are community based schemes aimed at helping those who can't access loans otherwise. But because members of the scheme usually have to save before they borrow, the desperate may turn to a loan shark instead.

Loan shark victims like Carol have lived in fear for years - and there have been times where it's all seemed too much. "They are bullies, they threaten you with their heavies, they said they'd burn my house down and they said if you don't pay I'll come looking for you and kill you. It's made me feel really low, I even cut my wrists over it. I thought if I'm dead they can't have any more money. The people who have helped me have been marvellous, if I didn't have them I would have killed myself."

Carol was given help and support from the Illegal Money Lending Unit, who advised her to stop paying as her loan was illegal and unenforceable. "We look to protect the victim all the way through to the court case and beyond, so we can arrest the loan shark which takes the problem away for a certain period of time, we can then look to have strict bail conditions so they don't live in the area where they are causing the fear, in extreme circumstances and when we feel it necessary we can rehouse people.

Claire's money worries are far from over, but in future she won't be turning to a loan shark. "I wish I'd never got involved in the beginning but you can't turn the clock back. It's not worth it. Even if they come across as nice, if you miss payments they'll threaten you and your family. But there is help out there."

If you need help, or you have any information about illegal money lending in your area, call the 24 hour loan shark hotline on 0300 123 3311.

Source: www.bbc.co.uk/wales/x-ray/sites/allarticles/updates/090624_loan_sharks.shtml

Loans for poor people

This article is from the website www.dangcongsan.vn. This site is for the Vietnamese, the country has many people who are living in the poor situation. And this article is about the loans that can help them to have the opportunities to over the poverty to have a better life.

Detailed regulations about interest rate assistance for loans for poor people and beneficiaries in the Vietnam Bank for Social Policy (VBSP) have been released by the State Bank of Vietnam on July 16th.

All customers borrowing capital from VBSP will be assisted with interest rates for short, middle and long-term loans disbursed from May 1st to December 31st, 2009. In particular, the maximum duration for the loans an with an assisted interest rate is 24 months, from the day they are disbursed with the deadline for assisted interest rate being December 31st, 2009.

With this action, those with interest rates of more than 4 % per annum will be assisted with 4 percent per annum, based on the outstanding loan balance and the original loan duration.

For those with interest rates of under 4 % or 4 %, the assisted interest rate is the total interest rate of the loan capital which is based on the outstanding loan balance and the original loan duration (the loan interest rate of 0 percent.)

Car Loans in UK

Nowadays, there are many people want to buy own car, but sometimes they can not afford for the new car or second hand car. And a new service of finance is Car Loan which can let someone borrow the money from them with the interest.

And car loans can either be secured or unsecured. Car loans in the UK are an important tool for buying a car. And people love to go for getting a loan and buying a car than paying the whole amount at once. At present, car loans in the UK have around 7.2% interest rate. The interest rates vary from secured loans to unsecured loans.

Secured car loans are the ones you take up against collateral. And this security loans also can be your house or any property which values 25 % more than that of the car. Usually, car loans are unsecured ones. For an unsecured car loan, you must have good credit history and banking record. It is easier for you to be accepted.

Accepting a car credit is the top company that forwards your car loan application to the banks. And the financial institutions can help you with the poor credit history and defaults in their banking record get through the process. The car seller will not sell cars nor does it arrange one, it only arranges the financing. Because this loan is secured on the car, not your home. It is very simple to apply for this loan. You can either apply online or call a toll free number in UK. Then, you can make an appointment with answering a few questions. You can just visit their local branch to choose the car which you like and then you bring in your old car for exchange as they offer credit for it. They have hundreds of used car at branches all over the UK.

The car finance institutions can help their customers get a car regardless of bad credit history. They will finances the car and even arranges one for you.

They also depend on your circumstances, to let you buy a car may not be a decision you can put off. Your only source of income may depend on your being able to commute to work. And you may just want to buy a different car.

Whatever the situation may be, you can utilize car loans easily and conveniently regardless of your credit history. Car financing provides you the ability to purchase a car even if you do not have all the money up front. As in any other loan, you have to be careful when getting a car financed. It is always advisable to thoroughly understand the terms and conditions.

You may read more at website:

www.loansnmortgages.co.uk

Short Term Loan

Short term loan for students:

In the studying process, students may have some problems with there finance. At this time, they need a help from parents, university... But one of helps is the short term program which is provided by the university.

Usually, the maximum amount available for students is $1500. Because it is the hep program for students, so no interest is assessed, unless the loan is not re-paid on time. And repayment is due with the final U-Bill of the term in which the loan was taken.

It is really good for students who want to borrow the money in the emergency cases, But not all of them can borrow, these are some conditions for them to apply this debt:

Eligibility Criteria

• Students can receive only one $1500 loan per semester.

• Students must be enrolled at the time the loan is applied for.

• Any previous loan must have been repaid on time ( if not they will have to pay the interest)

• Last, students must not owe any U-bill charges from a previous term.

When you are eligible with this loan program, I will tell you about the procedure to apply for it

• Go to the Financial Aid Office of you school and look for the application forms and instructions.
  

• You need to read and complete the application form and deposit it in the box.

• The loan will be applied to your account with the university. If the loan creates a credit balance in your account, then you can request a refund on the application form

• The maximum amount available is $1500.

Loan requests must be justified on the basis of an educational or educationally-related expense or living expense.

And you have to remember that the short-term loans are not available while classes are not in session.

Students have some choice in determining how and when the loan is repaid. All loans must be paid within one year or before graduation, whichever comes first final repayment must be scheduled before graduation.

PAYDAY LOAN

It is also known as the paycheck advance or the payday advance. This kind of loan is small, short-term. It is intended to cover a borrower's expenses until his/ her next payday. And the loans also refer to as the cash advances which term refers to cash provided against a prearranged line of credit such as a credit card. And the legislation of payday loans is varies widely between different countries and within country, between different cities.

The term of payday loan is often from 4 to 18 days, it depends on with your next payday, because this is specified by the lender. There are many payday loan lenders and affiliates of payday loan lenders who offer to clients the option of loan. It means that the loan is extended to the next payday are doubled. The larger and more reputable online lenders will allow you to roll over payday loans no more than one to two times.

A pay day loan has a small relationship with the unsecured loan, it is generally for $100 to $1,500, it is planned to satisfy your financial needs until your next payday. It means you write out a check for the advanced cash amount and add more the lender's fee, it will to be held until your next pay cheque.

This kind of loan has many advantages, because it can help you to get through a financial crisis that you might be going through.

The bank will never lend money if they are not sure that you are not capable of paying the loan back.
And the financial institutions will protect your personal and financial information according to the guidelines set be Consumer Credit and Data Protection Acts. They also keep the charges at the lowest level in the industry and they do not increase charges after the money has been loaned and guarantee there are no hidden extra payments.

They have many encourage programs for the customers to pay off the loan as soon as possible to avoid repeat loan deferrals.

I think with useful policies, you can find a suitable loan for you.

LONG TERM DEBT

Long term debt consolidation loans:

It is known as a great way to dig out of large amounts of debt. But this kind of loan may not be right for everyone. Now, there are many debt consolidation loans available. It is very important when you explore your options before deciding if a long-term or short-term loan is suitable for you.

The most advantage of long term debt consolidation loans is you will have the flexibility to spread large amounts of debt repayment out over many years. And you will pay interest costs on that money during the years which you pay off the loans. But usually this interest cost is much cheaper, if you keep the individual payoff amounts separate.

While the use of long-term debt allows you to buy whatever which may help you increase your net worth and they can also present a number of risks. If you are considering to take out your first long-term loan, or you re-evaluate your past choices. There are a number of important risks and mistakes to consider:

• The first is never paying it off. Because tt has become increasingly easy to refinance your existing debts into new ones. While this might lower your payment, it often also rolls the clock back to zero. Ad if you constantly refinance, you will never get a loan paid off and always be paying interest to someone else.

• The second is forgetting that it’s still a debt. Because since there are many conversation about the long-term debts such as mortgages, student loans, etc. It is being good debts, it would be easy to forget when they’re still loans that cost you interest. Even you take the loan with low interest rate, but you’re still sending money to someone else as opposed to investing or enjoying it.

• The third is not deducting the interest. Your interest is not often deductible, and you can be lower your tax bill by writing off your student loan and mortgage interest. When you take out a long-term loan but you fail to properly deduct the interest, you could be costing yourself thousands of dollars annually.

There are many risks of long term loan, but many people still choose the long term debt consolidation loans in conjunction with a home refinance or a home equity loan. Because they are see their advantages is more than risks. And these options can help to free up some cash in order to roll the higher interest accounts into a lower interest rate account. Many banks are more willing to come down the interest rates in these types of debt consolidation loans, because the house is used as a collateral for the loan.

If you are thinking about purchasing a house, you still have other long term debt consolidation options to choose from. Because the long-term options are personal loans which are given by a financial institution, and all of the smaller consumers debts are rolled into one larger loan.

If you have a smaller amount of debt and you can afford a higher monthly payment,you can apply for a short term loans. Because these short term loans will often allow you to pay less interest costs because you are able to pay off your debts more quickly.

But you need to remember that there are many debt consolidation options are available, but you must to determine the best debt relief program for you. There are also many companies online that are willing to offer free financial evaluations, and taking advantage of these free debt evaluations which may help you compare them side by side and decide on the best company.

Debt matters and 6 top tips for saving more money and solving your debt matters

Most people are not millionaire or billionaire, so most people have debt matter. But have you asked yourself why you have debt matters and How to solve debt matter? I worked hard over time but i still have problem with my finace. And i was in debt matter until i read the article

“6 top tips for saving more money and solving your debt matters” . I recognized we work hard that is not enough, we also need have plan on our finance.

I read on 1 blog about finance at : www.psyfitec.com and i agreed with these below concern that will make us have debt matters:

Borrow Wisely

If anyone was in any doubt about how much debt matters to individual stockmarket investors and their preferred investments, the events of the last few years should surely have convinced them otherwise. Debt is one of the most critical factors investors need to consider in making their investments, and it’s not just a matter of the corporate borrowings of companies but also of personal loans – from mortgages through to credit card payments.

The problem is that when times get tough for companies, and they have trouble refinancing their borrowings, this generally foreshadows private investors having the same difficulties. Get this wrong and you find yourself with increasing debt, decreasing income, sliding investments, relationship difficulties and under extreme psychological pressure to do exactly the wrong thing. None us should be in any doubt – debt matters.
Personal Debt and Stock Investments

Private investors really shouldn’t have personal debt while investing in the stockmarket. With, at best, an average annual return of 12% it really makes no sense to be paying double digit interest on hire purchase or credit card bills while putting money into stocks. It’s crazy and illogical behaviour – so, of course, there are plenty of people who do it.

The only type of debt it makes sense to run while investing in stocks is a lower interest mortgage. Buying a house isn’t something you can do in a couple of years and if you’re going to invest in stocks for the length of time it takes to have certainty of making money you’ve really got no choice but to take the risk that mortgage interest payments may outstrip your stockmarket returns during some of that time. Over the term of most mortgages it’s a certainty that this wiill be the case at some point.

Dealing with Debt

Investing for the worst case isn’t a sensible approach, because you may spend decades waiting for it, but assuming that good conditions will continue forever isn’t sensible either. Managing debt is a significant part of this process. It’s hard enough holding on to stocks when they go through one of their periodic loop-de-loops on the stockmarket rollercoaster but it’s far harder when you’re faced with trying to repay personal loans and wondering where your next pay check is coming from.

Time is the key for most of these issues. The critical thing is to avoid being a forced seller at the bottom of the market, even if you lose your job. There is nothing as psychologically soul-destroying as watching your stocks’ value being eroded day by day as markets fall – apart from watching them gain day by day after you’ve sold them.

6 top tips for saving more money and solving your debt matters

Don’t let debt matter happen to you; Getting the very most out of the money you have requires big picture thinking. With that in mind, here are six terrific long term strategies you can put into play right now to save yourself thousands of dollars per year. I read these below tip on site : www.debtmattersnews.com and i want to share it for you. I hope you can follow and solve your problem with debt soonest.

1. Reassess your home.

Get a reassessment of what your home is worth now, because it’s likely not worth nearly as much as it was a few years ago. And if you bought during the home buying frenzy of 2005-06, it may have lost 40% to 50% of its value. So get an accurate assessment of its current value on the books. Why? It could save you thousands in home insurance and taxes paid. A friend in West Chester, PA., bought her home at the peak of its sales history – and paid all of the taxes that came with it. I persuaded her to get a reassessment. As a result, she’s saving $5,000 in taxes a year.

2. Update your insurance.

Many people have one company that insures their home and another that insures their cars. Big mistake. You can save 10% or more in premium costs by having both with the same company. Just ask for a new rate quote to check out how much less you’ll pay.

Another point to consider is that it’s a good idea to increase your auto deductible to $1,000. Why? Because car insurance should cover only major damage, not scratches or dings. If you make a habit of claiming small stuff, you’ll see premiums rise dramatically or your insurer will drop you.

3. Diversify your savings.

If you are eligible for a company 401(k) or a similar retirement plan, contribute the maximum that your employer will match. Anything less is leaving money on the table. After that match amount, contribute nothing because tax rates are as low as can be right now. If you have extra money to invest, put it in a Roth IRA instead. Although your contributions are taxable income now, the Roth is great because your investment earnings can grow tax-free. If you’re investing in the long haul, not being subjected to the possibility of higher income taxes is a big plus.

4. Increase your exemptions.

Many folks are thrilled to get a $2,000 or $3,000 refund from the IRS each year. But think why you’re getting it: You’ve overpaid taxes and given Uncle Sam an interest-free loan! At the same time, many Americans are carrying huge credit card debt with interest rates of 8% to 32%. Reducing your tax refund from $3,000 to zero will effectively get you $250 a month to pay down that savings-robbing debt. You can reduce your tax refund by increasing your withholding allowances through your employer.

5. Say “no” to store cards.

With the holiday shopping season ahead, many retailers are now soliciting customers to sign up for a store card to save 10% on their purchases. So shoppers sign up and spend the entire credit limit−say, $500−just to save $50. But these store cards carry higher interest rates (like 21% or more) than standard cards. And guess what? The more store cards you have maxed out, the worse your credit rating will be, which means you’ll be charged more to borrow for a home, car or whatever you need.

6. Borrow wisely for college.

With the credit crisis, banks are less likely to give private student loans, so students are getting their parents to cosign. Keep in mind that interest on a private student loan is averaging 12% now according to Forbes. But a PLUS loan, which parents can take out in their own names, is fixed at only 8.5% interest. Also, if your child will enroll in college in the next five years, make sure your investments are in safe, fixed interest generating options, not in stocks.

9 good tips for Shopping for a Mortgage

I am mad at shopping and I want to share 9 good tips for Shopping for a Mortgage.

When you are shopping for a mortgage, there can be a great deal of angst and uncertainty because it can be a long and arduous process. Use the these below tips of this article to help you get through the process easily and smoothly. And i summary these good tips from many source sites like : debtmattersnews.com

1. Know what you can afford.

Review your monthly spending plan to estimate what you can afford to pay for a home, including the mortgage, property taxes, insurance, and monthly maintenance and utilities. Make sure you save for emergencies. Plan ahead to be sure you will be able to afford your monthly payments for several years. Check your credit report to make sure that the information in it is accurate. A higher credit score may help you get a lower interest rate on your mortgage.

2. Shop around--compare loans from lenders and brokers.

Shopping takes time and energy, but not shopping around can cost you thousands of dollars. You can get a mortgage loan from mortgage lenders or mortgage brokers. Brokers arrange mortgage loans with a lender rather than lend money directly. In other words, brokers sell you a loan from a lender. Neither lenders nor brokers have to find the best loan for you--to find the best loan, you have to do the shopping.

3. Understand loan prices and fees.

Many consumers accept the first loan offered and don't realize that they may be able to get a better loan. On any given day, lenders and brokers may offer different interest rates and fees to different consumers for the same loan, even when those consumers have the same loan qualifications. Keep in mind that lenders and brokers also consider the profit they receive if you agree to the terms of a loan with higher fees, higher points, or a higher interest rate. Shopping around is your best way to avoid more expensive loans.

4. Know the risks and benefits of loan options.

Mortgages have many features--some have fixed interest rates and some have adjustable rates; some have payment adjustments; on some you pay only the interest on the loan for a while and then you pay down the principal (the loan amount); some charge you a penalty for paying the loan off early; and some have a large payment due at the end of the loan (a balloon payment). Consider all mortgage features, the APR (annual percentage rate), and the settlement costs. Ask your lender to calculate how much your monthly payments could be a year from now, and 5 or 10 years from now. A mortgage shopping worksheet can help you identify the features of different loans. Mortgage calculators can help you compare payments and the equity you could build with different mortgage loans.

5. Get advice from trusted sources.

A mortgage loan is one of the most complex, most expensive financial commitments you will ever assume--it’s okay to ask for help. Talk with a trusted housing counselor or a real estate attorney that you hire to review your documents before you sign them. You can find a list of counseling resources on the U.S. Department of Housing and Urban Development's (HUD) website or by calling (800) 569-4287.

6. Shop around--compare loans from lenders and brokers.

Shopping takes time and energy, but not shopping around can cost you thousands of dollars. You can get a mortgage loan from mortgage lenders or mortgage brokers. Brokers arrange mortgage loans with a lender rather than lend money directly; in other words, brokers sell you a loan from a lender. Neither lenders nor brokers have to find the best loan for you--to find the best loan, you have to do the shopping. For more information on mortgage shopping, see : www.federalreserve.gov/pubs/mortgage/mortb_1.htm

7. Understand loan prices and fees.

Many consumers accept the first loan offered and don't realize that they may be able to get a better loan. On any given day, lenders and brokers may offer different interest rates and fees to different consumers for the same loan, even when those consumers have the same loan qualifications. Keep in mind that lenders and brokers also consider the profit they receive if you agree to the terms of a loan with higher fees, higher points, or a higher interest rate. Shopping around is your best way to avoid more expensive loans.

8. Know the risks and benefits of loan options.

Mortgages have many features--some have fixed interest rates and some have adjustable rates; some have payment adjustments; on some you pay only the interest on the loan for a while and then you pay down the principal (the loan amount); some charge you a penalty for paying the loan off early; and some have a large payment due at the end of the loan (a balloon payment). Consider all mortgage features, the APR (annual percentage rate), and the settlement costs. Ask your lender to calculate how much your monthly payments could be a year from now, and 5 or 10 years from now. A mortgage shopping worksheet (33 KB PDF) (you can see at : www.federalreserve.gov/pubs/mortgage/worksheet.pdf) can help you identify the features of different loans. Mortgage calculators can help you compare payments and the equity you could build with different mortgage loans.

9. Get advice from trusted sources.

A mortgage loan is one of the most complex, most expensive financial commitments you will ever assume--it’s okay to ask for help. Talk with a trusted housing counselor or a real estate attorney that you hire to review your documents before you sign them. You can find a list of counseling resources at NeighborWorks and on the U.S. Department of Housing and Urban Development's (HUD) website or by calling (800) 569-4287.

Good Money Saving Grocery Shopping Tips

Nowadays, Groceries are one of the biggest expenses each month for many families, so here are some simple tips from our readers to help you save money on your groceries. By following the good tips below, alert shoppers can save up to $300 a month off their grocery bills. Are you ready to start trimming the fat off your food bills?

All these tip below that i find it is so realistic tip and i summary from many source site but includes 2 main site : debtmattersnews.com and homeparents.about.com. I hope the good tips below could help you save more money for Grocery Shopping

1. A Little Homework

Planning before you head off to the supermarket will help you shop more economically. Take the time to do a quick inventory of your kitchen to determine the food that you need. Prepare your shopping list and make notations of applicable coupons that you may want to use. Read the newspapers and circulars to find the best deals.

2. Choosing the Right Store

For basic grocery needs many grocery stores now offer excellent product and price selection, frequent shoppers programs and double coupon days. However, when buying in bulk, you may want to tackle the warehouse clubs or superstores. Non-perishable items are often at unbeatable prices at such stores. For the best prices on health and beauty products check the national drugstore chains and superstores.

3. Eat First

Grocery stores know the power of the sweet smell of freshly baked bread. Just one sniff will ignite the appetite and send even the most hardened shopper down the aisle grabbing for anything that looks good. Remember, everything looks good when our stomachs are screaming, "feed me!"

4. Coupons, Rebates, and Frequent Shopper Programs

You can save hundreds of dollars a year by taking advantage of product incentives. Even the less enthusiastic coupon clipper can shave an average of 10 percent off their bottom-line by cashing in a small handful of coupons per trip.

If your store offers a frequent shopper program, signing up for it would be a good idea. You will receive advanced notice of special loss leaders, double-coupon days and other money saving information.

5. Store Brands - Try It, You May Like It

The days of generic type packaging and bland tasting food in store brand products is over. Companies have worked hard to improve their private-label brands and often the taste is equal to the national brands. Do not be afraid to experiment. If you find the product meets your standards, you can save an average of 40 percent off your annual grocery bill.

6. Setting Limits on Impulse Buying

Sticking to a well thought-out shopping list will help cut down on grabbing for things that you do not need. In addition, give yourself enough time to shop will help prevent dashing in and reaching for the first item that you come to. Setting a dollar limit for impulse buying will help soothe cravings without busting the budget.

7. Comparison Shopping

To determine the true value of a product read the unit price, not just the package price. The unit price information is usually on a sticker located on the shelf that holds the item. The package price only tells you the cost of the entire item. The unit price shows the cost per pound, ounce, etc. Taking a moment to compare this information in similar products will help you get the best value for your dollar. Also, be certain to check "expiration" and "use by" dates to insure you are buying the freshest products.

8. Beware of Marketing Strategies

Avoid marketing ploys designed to draw your attention to a particular product. Knowing some of the tricks of the trade will ultimately save you money. Beware of end-of-the-aisle dump bins, island displays, recipe related item placement and middle-shelf items. This is typically where higher priced and impulse products are placed.

9. Learn to Be a Label Reader

Reading the product label is the best way to find out more than what is advertised on the box. Ingredients are listed in order by the quantity actually used when making the product. The ingredients used in the highest quantity are listed first. For example, if you are looking for avocado dip you will want to see avocadoes listed in the first part of the ingredient list, not the last part.
If you are looking to cut fat from your diet, be careful of words such as "lite" or "fat-free" which can have broad definitions. By reading the label you can get a better idea of what the fat-to-calorie ratio is as well as other valuable nutritional information.

10. Watch the Scanner

Keeping your eyes peeled to the scanner has dual advantages. First, it will keep the cashier more alert. Secondly, it will allow you to stop the checkout process if an item is showing the incorrect price. Keeping the store circular nearby is also helpful in disputing an incorrect price. You can also ask the cashier to stop ringing while you accompany the employee to the aisle to check the price of an item.

11. Bulk Shopping

While you should always carefully compare prices first, it can be much cheaper to buy in bulk from a warehouse. Here's a tip for saving money by buying in bulk.

12. Buy Loss Leaders

Here's a tip for saving money by stocking up on loss leaders at the grocery store.

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16. Co-op Shopping

If you have one, you can save money by shopping at a grocery co-op.

17. Comparison Shop

You can definitely save money each month on your grocery bill if you do some comparison shopping.

18. Freeze Your Milk

I never knew you could freeze regular milk, but a reader tells how she saves money by freezing milk.

19. Plan Your Meals

Learn how one mom spends under $200 a month on groceries for a family of four by planning ahead.

20. Save on Meat

Here's a tip to help you save money on your meat purchases.

21. Shop at a Farmer's Market

Save on your vegetables at a Farmer's Market.

22. Shop for the Month

Save money on your grocery budget by planning a month ahead.

Financial Aid Programs for MBA students

There are many graduate students who want to apply for master courses. But the tuition fee and other expense for these courses are often high. Ans you know although an MBA is an investment in one’s future with a superb cost-benefit ratio, it is an investment that must be planned for carefully and students are expected to contribute a portion of his/ her income and assets to meet the costs of graduate business study and they have to borrow funds for necessaries of this course.

The financial aid program is designed to help applicants finance the MBA Program and recognize students who demonstrate exceptional academic achievement. It is available in most of universities and the form of merit-based fellowships, need- and merit-based scholarships and federal, institutional and private low-interest loans.

And i will give you some policies when you want to apply for this loan.

With the employments who are given the rigor of the MBA Program and during the academic terms they are discouraged, especially in the first year. But teaching and research assistant ships are offered directly through faculty members, although these appointments are generally awarded to doctoral students.

More than two-thirds of MBA students have to take advantages of federal and private loan programs to finance their MBA. Students are interested in these loan types, they have to carefully review the policies for detailed graduate loan information before they apply for this loan. Because this centralized information pertains to U.S. citizens, U.S. permanent residents and international students.

These financial aid eligibility is based on your full-time academic status. And the federal loan eligibility is based on maintaining at least half-time status. It is the reason why if you drop below half-time status for any reason, you must notify the Financial Aid Office.

There are some steps to take this loan, before starting, you have to read carefully the guidelines here:

Before a student can receive any federal loan funds, a Federal Loan Entrance Interview must be completed. They will explain for you about the student’s rights and responsibilities as a federal loan borrower.

And next is the Federal Loan Exit Interview must be completed before graduation or when a student falls below half-time status. They also will explain the basic terms and repayment schedule of federal loans. If you are failure to complete the Federal Loan Exit Interview, it will result in the withholding of your diploma and an office of the university where you applied.

And this case, your student’s account is placed on HOLD for outstanding account balances, failure to satisfy immunization requirements, or any other reason, the Financial Aid Office is unable to release or process any financial aid for that semester. You can not be officially registered student unless this HOLD is lifted and your classes are posted onto the University’s system.

If you fail to maintain these standards federal aid which will be denied until you are able to demonstrate sufficient Satisfactory Academic Progress.

The Department of Education randomly selects 30% of FAFSA applications for a process, it is called “Verification”. If you are selected for Verification, you will be notified both by the Department of Education via your Student Aid Report and by the school via a Missing Information Letter. And before the school can finish processing any federal aid, you must complete and sign a Verification Worksheet and a signed federal tax return. Once all documents have been collected and reviewed, the school is able to finish processing the student’s federal aid and then the award letter can be released.

Hope you will be successful if you apply for the financial aids

FIXED RATE REMORTGAGES

And now, it is the second type of home equity loan, it is known as the Fixed rate remortgages which are quickly becoming the most sought after mortgages once again, it is largely due to the fact which the fixed rate provides increased security for the home owners. In this case their monthly payment will not fluctuate over the course of several years. You need to remember that this type of mortgage is not prone to the shifts in market and due to past economic downturn, their rates are at their lowest. But currently it is a highly advantageous time for home owners to lock in an affordable term and rate.

However, it will not automatically award you the best rate. A home owner will often find that they consider a longer term and the rates will increase dramatically—even increase exponentially when you consider 4 or 5 year terms.

One of advantages of fixed Rate Remortgage is the better option for those of you who like more stability when the payments and the rates remain fixed over the time of period. It does not affect to your existing mortgage in any fashion.
The another advantages is no problems which will happen to the Bank. Because the interest which you pay during the fixed period will not budge. So, the benefit is an unchanging monthly repayment, allowing you to budget around your housing costs.

As you know, this type of home equity loan will give borrower perceived security against rate increases over a certain period and it is becoming the most popular choice of borrowers.
When you apply for this loan, you are consistently charged the same interest rate for a set period of time. And this period can be any number of months or years, although the commonest are 2, 3 and 5-year fixed periods. And the rate which you have to pay during this period is often lower than the lender's Standard Variable Rate when you take out of your mortgage. Approximately 80% of borrowers who take out a fixed rate mortgage opt for a short-term fixed period.

The shorter-term loan is appealing to many borrowers because you can reassess the market after your fixed term is finished. But if you determine that your deal was not the most competitive, and you are free to switch to another deal. But the pendulum can swing in both ways. You may come to the end of your short-term fixed rate mortgage to realize that you were in a very good deal, but now you have to pay for the financial institution the higher rates and fees.

This type of loan is offered for many time periods. But the most popular are 2 and 3 years, but the range goes to 5, 15 or even 25 years. It is call long- term fixed rate mortgage. And more borrowers are starting to look at long-term fixed rate mortgages these days because these deals offer more security over a longer period. And when you take out a fixed rate mortgage over several years, you will consistently be working on the same budget. It protects you from coming out of a short-term fixed rate only to face higher rates. And after the fixed period, interest will revert to the lender's standard variable rate.

You need to remember that during the fixed period, you are often tied in to the deal by Early Repayment Charges. They do not stop you from remortgaging during the fixed period, but they will make it more expensive and you have to pay higher amount for them. And it also means that the lender can ensure it which makes money from all those short term fixed rates, and they can price them competitively from the start.

You can find more information at website:

www.moneyhospital.co.uk

HOME EQUITY LINE OF CREDIT

A home equity line of credit is called as HELOC which is one type of home equity loan, it relies on a home or other property like collateral. And if borrowers defaults on paying back the loan, the bank or other lender can seize the property in place of the money they are owed. And in this loan, the lenders will agree to lend a maximum amount within an agreed period - term and the collateral is the borrower's equity in owner's house.

Home equity lines of credit will allow homeowners to borrow money at a lower rate than an unsecured loan, and to withdraw that money on a credit line which operates similarly to a credit card.

A home equity credit loan can be secured from 75%-90% of home equity owned of the total value of the home minus any outstanding mortgages, it depends on the bank or lenders.This loan is often only possible for homeowners who have at least 10-20% equity in their home.

And I will show you now some advantage of home equity line of credit.

• It will reduce monthly payments by consolidating.

• It will help you to increase cash flow flexibility in meeting current and future needs.

• It potentially deducts the interest from your tax bill1

Especially, it will avoid the interest rate fluctuations with fixed rate home equity loan products
It will take advantage of closing costs which are typically lower than refinancing your first mortgage
It looks like a perfect financial solution but you are considering this type of loan should keep a few things in mind.

Besides, this type of loan is very flexible, it is allowing the borrowers to withdraw money against the line of credit up to their maximum, and you can pay it off as they are able, you also may remain available which to be drawn against even once they are paid in full. It is like a credit card, it is not necessary to reapply to use the line of credit again for further withdrawals and projects.

Home equity lines of credit has many kinds of rate which means the interest rate can change with the economy. and it depends on many factors of market. And you will repay according to the monthly payment which will vary widely if the market changes. These interest payments are also deductible under many tax laws because they are related to the home.

The term of this loan can be from 5 to 25 years, it can be problematic for people who do not plan ahead. So, it is always the good idea for borrowers to pay down interest and principal on a loan as quickly as possible.

In summary, withdrawing most of the available money on a line of credit can negatively affect credit score and it may not be the best option. But the impact is relatively small. So it is better when it should not deter most people from using a home equity line of credit if they have the ability to pay it off.

And this is the website which you can search more useful information:

www.personal-loans.suite101.com

CASH- OUT REFINANCING

In last post, I told you about 3 types of home equity loan, and now, I will discuss one by one for you.

Cash out refinancing refers to when equity which is liquidated from a property above and beyond sum of the payoff of existing loans held in lien on the property, loan fees, costs associated with the loan, taxes, insurance, tax reserves, insurance reserves, and in the past any other non-lien debt held in the name of the owner being paid by loan proceeds.

And if a borrower chooses to take cash-out finance in addition to his/her existing loan balance, the new loan balance will consist of the current loan balance add the desired cash-out amount.

It is also known as a complete refinancing of the existing mortgage. Often a lower rate is expected with this type of cash out refinancing. It is a good option if the interest rates have dipped at the first time you took out your mortgage and you have gotten a lot of equity built in your home.

The borrowers can tap into the equity in their homes in many ways. These are 3 types of home equity loan, but one of most familiar method is cash-out refinancing. As you know, a home equity loan or home equity line of credit, borrowers can take loans which are separate from their regular mortgage. In these cases, the borrowers end up with two loan payments. But the cash-out refinancing is different. It means when consumers choose this route, they will replace the entire mortgage, and they have to borrow additional funds in the form of a cash payout, and all rolled into one loan.

Cash-out refinancing will let you take advantages of the equity which you have in your home by paying off your existing mortgage with a new one which also gives you a cash payout of the difference in your loan amount.

It has some advantages if you are in some cases which I will tell you now:

• First, you are considering a major expenditure like: home improvements or tuition, or you have an emergency expense.

• Second, you know the amount of money and you’ll need and want to receive cash in a lump sum payout.

• Third, you would like to stabilize your payments with a fixed-rate mortgage fixed-rate mortgage.

• Forth, a home loan with a predetermined fixed interest rate for the entire term of the loan.

• Fifth, you can comfortably afford the revised monthly payments

• Last, you are not planning to move in the near future

Cash-out refinancing also offers the potential to lock in a lower interest rate and the possibility of tax-deductible interest payments.

www.homeloans.bankofamerica.com/