Why Are People Scared to Have Multiple Credit Cards?

In the recent world, banking business has provided new technological facilities that are making our lives easier than ever. Starting from online banking transactions to payouts through cards, transferring money from world’s one end to other has become a regular exercise. The two basic types of cards, Credit and Debit cards have made the transaction a simple process. However, some people are yet not used to the system and some are afraid of using it for various purposes. Here, we will talk about why people are afraid of using credit and debit cards and how can these issues be solved.

Reasons to be Afraid of Multiple Credit Cards

People usually use multiple credit cards to earn more credit points which can benefit them in getting a loan, reducing insurance rate and even get themselves a job. But not everyone is familiar with these advantages. They mostly fear using multiple credit cards because –

  • They don’t like using banks for money transfer. They fear banks might loot them instead of saving their money. They think using a credit card will increase the chances of a bank trapping them with debt.
  • The idea of taking or borrowing money from a bank makes people feel indebted towards the bank. They don’t prefer to have such a risk which can become a serious issue if there is any problem with transactions.
  • Everyone does not have a fixed monthly salary. While using a credit card, the amount taken from the bank will be charged from your account on a monthly basis. Usually, depending on the salary these allowances are given which is not applicable in some people’s cases.
  • They fear to spend too much through credit cards and end up going to jail for not being to pay the debt back.

How to Get Over the Fear

These above fears are likely to come in mind of a novice in bank dealings. If you are a regular you know there is nothing to worry about. But for that, you must keep a few things in mind –

  • Build credit history by transacting through credit cards for future loans and insurance benefits.
  • Stay alerted about fraudulent websites and try to keep a check on your payments and debt rate. Your payments on the card should never exceed your income.
  • Have an insurance and cash coverage for unexpected situations.
  • Know the law and try to follow it to avoid legal issues.

Best Features from Quicken Budgeting Software

Budgeting is an art. It takes a lot of imagination and decision-making skills to create a budget for oneself. In the past all one had to budget was a pen and their balance sheets. It was left primarily to brain power to come up with solutions. The arrival of the new age has seen an advent of newer tools. Tools which have more computational power and is able to calculate a long set of numbers in a jiffy. There are quite a few of them in the market today. Each comes with its own set of unique propositions and one must understand his or her own personal needs before selecting one.

In this long list of budgeting tools stands out one name: Quicken. And it should not be mistaken with Kraken, the monster of Norwegian folklore.

The former is quite a smart tool and the latter, a legend.

Quicken has the following features:

  • It saves every piece of financial transaction information and categorizes them
  • It has a robust data visualization capability
  • It helps you by comparing your investments with the other instruments currently available in the market
  • It’s 128-bit and 256-bit encryption ensures your information is beyond the reach of any wrongdoer.
  • The software creates separate heads for retail and small business and helps you put funds in the correct places.
  • It tracks all expenses like rental, leases, rates and deposits all in one place to give you firsthand information.
  • It also comes with a mobile app. Now, this would mean you can manage your money anywhere and at your convenience.

Hence, the question that now arises is why then Quicken is rarely suggested as a budgeting tool. With so many features to go for it, what pulls it back? We see the reasons are many.

The lack of a free trail especially for a budgeting tool is off-putting. When someone installs software to handle money, the trail period usually works like a charm. Quicken does not have one.

It has way more functionality than what a layman can handle and it does get intimidating for most while using it for the first time.

Over the past few years and versions, there have been complaining about the memory Quicken eats up. Also, reports of bugs causing trouble for the budgeting tool has been around for some time now

In spite of these shortcomings, Quicken does have its followers. However, to up the ante in the field of budgeting tools, it needs to get sharp.

To Sign Or Not To Sign – Should you Sign the Back of Your Credit Card

A credit card is the most happening thing in the world of financial transaction. Gone are the days when long queues in banks would give jitters to its customers. With credit cards, there is a degree of financial freedom seldom seen in any other mode. It is also a security nightmare. Imagine, a card with your details falling into wrong hands. Apart from the monetary loss, the loss of identity to is a very big threat. As a result of which, every financial institution issuing a credit card has taken precautions to counter it.

That makes us come to a very pertinent question. Is it necessary to sign in the back of the credit card? Now for years, there has been a school of thought who followed the principle of either keeping the strip blank or mention the statement: “See ID”. However, that really does not make any sense. And the reason for this is that the signature at the back of the strip provides the card holder with an extra level of protection against fraud. You may ask how? When the teller or cashier at the counter provides you with the receipt slip you are supposed to sign, he gives a quick check to the signature done on the credit card. He or she does this to verify, whether the signature belongs to the same person.

More relevant that this is the violation you may be accused of for not signing the credit or debit card signature strip. The cardholder agreement very explicitly mentions the terms and conditions under which the card may be used. One of the conditions is signing at the back of the card.

However, the flip side to this is, many transactions do not require you to sign sales slips. And in a majority of credit or debit card transactions, the employees do not check the signatures. So basically the theory of an extra layer of protection falls flat.

The most foolproof method to keep your card safe is to follow a few rules:

  1. Do not, and I mean never, tell your PIN to anyone. It’s a recipe for disaster.
  2. Do not let any else use your card.
  3. Keep a tab on all the expenses on your credit card. This is the ideal way to find out any suspicious activity on your card.

Following these rules is far more important than deciding whether to sign or not to sign.

To Invest to Stocks or Not to Invest: What’s Your Final Verdict?

Why should you invest to stocks and why shouldn’t?

Whenever people heard about investing in stocks, they automatically think individuals making millions of dollars in the stock market. Stocks are considered to be as one of the traditional forms in raising a capital for businesses. Aside from that, it can open your door to greater opportunities in making a lot of money if you invest successfully. You have to be wise in picking the right stock at the right for this can result in bigger stocks while the stock value is tremendously increasing.

The biggest challenge for you in investing to stocks is to pick the good stocks during their lowest price then, sell them during its highest value. Well, this might require a lot of knowledge as well as experience to do so.  Investing in the stock market is all about right timing when to buy and sell stock.

The truth is your investment to stocks can actually benefit you a lot in making money at the same time; it can introduce you to high risks. If you do not have enough knowledge or experience in the world of stock market, you have to consult a financial adviser to gain a better understanding of the right strategy and timing. But, if you are just in the state of deciding whether you have to invest or not, the following advantages and disadvantages in investing to stocks:

Advantages of Investing in Stocks

  • A variety of Choices. With so much trade companies available, you can easily assemble portfolios that will meet whatever objectives you wanted to obtain. Also, this wide range of mutual funds will allow you to expand across industries or any company size coming from small to large cap.
  • Long term growth. Compounding your returns and dividends greatly create wealth over the long term. Your long term investment gives you easier plan where the rate of your return increases.
  • Risk tolerance. In investing in stocks, you have the freedom in selecting risk tolerance. If you prefer to have a low risk, investing in an established company is a great idea while if you wanted low more risk, you can consider riskier companies.

 

Disadvantages of Investing in Stocks

  • Lately, markets have become been quite volatile. As the market is in the panic mode, people tend to choose emotions instead of the fundamentals of logical economy creating amazing bargains.
  • Time-consuming. Though you choose a mutual fund and you belong to a small business, you are still you may face challenges of which one you should buy. To do so, you need to conduct a substantial research which is time-consuming.
  • Never be risk-free. Investing in stocks will never free you from risks since the value of your investments can go up and can go down. All form of business involves risk, but if you know how to handle it, you have the opportunity to succeed.

As mentioned above, the answer to whether to invest to stocks or not will always depend on to the right choice of stock and time, so you need to be wise. Also, it is much easier for you to succeed in investing to stocks if you have knowledge and experience.

Will Buying a House Ever be Possible Again?

If you’re planning to purchase a new house in Bay Area, California, you’ll surely get the best offers from credible homes & real estate businesses. Generally, it’s possible for anyone to buy a new home when you have decided that you really want one. Purchasing a new house goes on a process at which you need to choose the right approach in order to achieve your goals at the end of the day.

When you are at the stage of deciding of whether you wanted to buy a new house or not, there are several things that you have to consider to make the most of your purchase. In the meantime, you have to think carefully about the type of house that you want to buy. During your search, you should study your family size as it matters that you live comfortably in your new abode if in case.

Funding is another big consideration for buying a house. In most cases, home buyers aren’t able to pay the house in full or cash so they opt for home loans and all other options to tap their finances. It’s possible to get a new home if you have enough money but if you’re short of fund, it might be difficult for you to find good deals in the market. You can look for a lender who can potentially provide you with the house at a good rate. Along the process, you will need extra services to help you find the best one. You might need a real estate agent to guide you in finding the most suitable house that you prefer.

In Bay Area, California, you’ll find great houses that will surely suit your preferences. Besides the fact that they are high quality constructed, you also get the chance to live in a good place with a welcoming neighborhood. Californian locals are friendly so you’ll get along with them easily. The moment you get enough funding, you can proceed promptly with picking your choice of house in the area.

Is it even worth it?

Thinking to buy a new house must go on a wise decision-making process. It’s crucial that you have planned it carefully before making any purchase. But, is it really worth it to buy a house? Should you be satisfied with renting a place and not having your own home? Definitely, getting a house that you can consider your own is worth your efforts, money and every single investment that you put into it.

At first, you might find it not necessary especially if you are convenient with your current place. Yet, in the long run, you’ll realize that it’s worth the try. Investing to homes & real estate is good try as you can take advantage of it in the passing of time. Buying a real estate property might be the most overwhelming decision that you ever did so far but, you’ll see; your decision can be a new beginning for you and your family.

Bachelor Parties on a Budget

Just as spring begins, so too does wedding season. Men all across America are handing in the keys to their bachelor pads and trading them for keys to minivans. In a rite of passage and one last hoorah before the married life, many men throw bachelor parties. Just as weddings have gone up exponentially in cost and in extravagance, so too have bachelor parties. But there’s no reason to blow your whole wad of cash if you don’t have to. It is possible to have an epic and memorable (for what you remember of it) bachelor party on the cheap. In fact some of the best bachelor parties are those which are done on a budget. Check out some of the best ideas below.

bachelor party

Keep it local! Instead of jetting to Vegas or New Orleans  for the weekend, contemplate looking at places nearby. So if you live in New York check out Atlantic City. It might not have the same appeal as Vegas or be as classy, but you will save a ton on airfare. Plus all casinos are dark and boozy on the inside!

bachelor party in las vegas

Eat at home. There is no reason to blow a ton of money on a steak dinner. Just have the guys over and grill up some burgers while sipping on some beers, which brings up our next tip…

bachelor party food

Pregame! Pregaming isn’t just for college and your early twenties. Take advantage of your time at home before you hit the bars or clubs and save on drinks that are bought beforehand and don’t involve tipping.

bachelor party drinks

When heading out, you can rent a party bus or a limo–but perhaps instead opt for a town car or Uber an SUV. You can still get where you are going in style, but while saving a bundle! Also, you are guaranteed to stay safe, since one things for sure: you don’t want to be driving home tonight.

bachelor party uber SUV car

How to Spend Less Than $5,000 On a Wedding

When planning a wedding and finally tying the knot, it is important to not let budgets and imaginations run wild. Every bride and groom wants to make sure that day is perfect and is one to always remember, but no one wants to end up with wedding debt. Now with more and more parents not footing the bill, it’s on the young 20-something couple to take it on. And with the average price of a wedding in 2012 eclipsing $25,000, we thought it was time to take a step back and look at how you can plan an amazing wedding day without spending more than $5,000.

cheap wedding tips

When trying to save money on a wedding there are some key costs to consider: the venue, the guests, the invitations, the outfit, the food, and the cake.

The Venue

cheap wedding venue

The most important rule of real estate is always LOCATION, LOCATION, LOCATION! The same can be said of weddings. Everyone has dreams of being married in that white pristine chapel on a perfect sunny day. Or of being married in a giant marble estate. But with costs of renting venues starting already in the $10,000 range, why not opt instead to be married on a beach, or a botanical garden, or even under the stars in a field? It is easy to find great places near you that are beautiful and can even make your wedding more unique than any other. By simply getting a park permit or even just asking permission, you drop the cost of your venue from the $10,000′s+ to $1,000 or less.

The Guests

wedding guests

A really easy way to keep costs low is to limit the total number of guests you invite. With most venues charging a “per plate” catering fee, the smaller the party size the less you pay. This is a case where size does matter. An easy way to limit guests is to start small with the bare minimum of who you need to invite (i.e. immediate family and just three close friends for the bride and groom). From there the total number of guests can spiral out of control as people bring friends and family into the mix. A good rule of thumb is if they didn’t wish you a happy birthday or a merry Christmas for the past two years then they aren’t close enough to wish you happy anniversary either. Big lesson here is to start small. You can always add more guests but you can’t uninvite them no matter how much you hate your new mother-in-law. By cutting the total party size down from 100 guests to a more manageable 50 or from 200 guests to 100 you easily and quickly cut your wedding costs in half.

The Invitations

cheap wedding invitations

One of the most unexpected expenses is the wedding invitations themselves. Ranging in price from $5 to even $10 an invite the more guests you have, the quicker the costs rise. Consider sending out and making the invitations yourself! This allows you to save money and gives you and your beau some time to reconsider everyone you are inviting to your wedding. If you can’t spend two minutes writing them a personal card then why would you want to spend two hours with them on your special day? By doing the invitations yourself you can drop the cost of them from $1,000 for 50 or a 100 invitations to just $100!

The Outfit

cheap wedding gown

A gown by Monique Lhuillier or Vera Wang is what every girl dreams of, but who want’s to spend $5,000 + on a dress you are only ever going to wear once? It will cost you more than month of rent! Why not look for a slightly more nontraditional dress in the $1,000 price range that lets you be unique and still look fabulous on your wedding day. For the grooms it is still ideal to just rent your tux since this allows you to customize it and get the perfect fit so you look great in the wedding photos you show your grand kids one day. Easily drop your wedding clothing cost from $10,000 to under $2,000.

The Food

cheap wedding catering

The food and drink at a wedding can really make or break the whole event. By opting out of fancy run of the mill caterers who charge high price per plate rates (up to $100+ a plate!) you can instead order food from your favorite restaurant and make a really special and memorable meal of all your favorite dishes. Perhaps you and your special one had a great first date at Sophie’s Cuban, or love Calexico! Why not hire them to come cater your big deal? You will save a bundle and have people go home feeling full and enjoying a unique and special meal. Of course the other big expense is alcohol. Consider a place that is BYOB and lets you bring in the drinks of your choice. This way you can avoid the markup they will charge you at the venue and the best part is you get to keep the leftovers! Save a bundle by hiring out your favorite restaurant to cater the big day and by bringing in your favorite drinks for your guests to enjoy!

The Cake

cheap wedding cake

Aside from the rings and ceremony itself one of the most important parts of a wedding is the cake, and as such it is also quite expensive. Wedding cakes can range from $500 to $1,000, and for something that you normally just get a bite of, that doesn’t sound like a great deal unless it’s a cake made of gold! A really easy solution is to buy the smallest size wedding cake to make sure you have one there and have some of it to save for your one year anniversary. For the rest of the guests go to your favorite baker and buy your favorite normal cake for them. This way your guests get something yummy, you still get your special cake on your special day, and you also save a bundle. By doing this you can easily save hundreds of dollars from your wedding day costs.

I hope that these tips help you in planning out your special day. Remember, just because you’re saving money doesn’t mean it is cheap or not right. You can create a unique and amazing wedding all while saving a bundle! Let us know if you found these tips helpful or have some suggestions of your own in the comments section below!