Improve Your Finances, Cut Back Where You Can
by: Bernz Jayma P.
Market changes have forced a lot of expenses to go up. If you notice,
your mortgage payments and other costs are not at the same level as
before. For the ordinary consumer, this means less purchasing power and
lower standard of living. Fortunately, you can fight back by knowing the
tips and tricks in saving money. We have compiled five tips that will
help you financially during tough economic times:
• Check your mortgage – most mortgage lenders offer an introductory
offer. If you took advantage of this, make sure that you know when it
will end so that you can remortgage in time. With the variable rate of as
much as 8.5%, no one wants to make even one late payment.
• Save on energy expenses – previously, consumers weren’t that concerned
about their energy bills. It was just something to be paid each month.
With today’s harsh condition though, every penny counts. If you make a
conscious effort to cut back, you might be surprised by the amount of
savings you can keep each month.
• Lower your grocery bills – it is easy to get tempted on the grocery. By
preparing a list and sticking to it, you can eliminate a lot of
unnecessary expenses. In addition, using coupons and buying items that
are really on sale can dramatically reduce your expenses.
• Phone calls – although landlines are no longer popular as before, some
people still rack up expensive monthly bills. If this is the case for
you, examine your pattern and implement strategies that will help lower
it. For example, getting an affordable package will help or you can make
less-urgent calls during off-peak hours. It is even better if you can
manage to call using the VoIP technology instead.
• Gym membership – it is true that investing for your health is good. In
fact, it is probably one of the best investment policies out there.
However, if you have an expensive gym membership that you barely use,
consider some alternatives. For example, look into the gyms that offer
pay-per-trip programs. That way, you only need to pay for the times when
you actually exercise.
These tips are just an overview of what you can do to save on your bills.
There are many more ways to save according to your unique circumstance.
In addition, combining effective investment practices with your saving
strategies will help you attain better financial health.
About The Author
Author and entrepreneur Bernz Jayma P. is the owner of a financial blog,
dedicated to helping people expand their knowledge about their personal
finances. Learn up to date investing strategies and retirement planning
by visiting http://www.Invesmint.com.
Sunday, June 14, 2009
Saturday, June 13, 2009
Loan Modification – The Lucas Law Way
Loan Modification – The Lucas Law Way
by: Bobby Presley
Foreclosures continue to increase in numbers as the economy continues to
go down. More and more homeowners are having difficulty keeping their
homes. Some homeowners try to have their loans modified by their lenders
only to be frustrated.
What is Loan Modification?
Loan modification involves the adjustment and renegotiation of the terms
and conditions of an existing mortgage contract allowing for more
affordable payment rates that will fit your budget. If an account is
delinquent, loan modification brings your account to current status. It
is not the same as refinancing. You do not need good credit standing as a
prerequisite for the terms to be modified. Change of terms is dependent
on the type of loan obtained. The most problematic loan is the adjustable
rate mortgage. You can have this changed to the fixed-rate loan. A
fixed-rate loan is better because you can adjust your rate to better suit
your budget. Lower rate means lower payments. Loan terms can also be
extended, for example from 20 to 30 years.
Do You Need a Lawyer?
Not necessarily. But having the services of a good attorney to represent
you during negotiation proves to be more advantageous. It will
dramatically increase the possibility of success in the loan modification
process. A lawyer can provide a more detailed and careful analysis of the
situation. Better equipped with knowledge on the different options open
to you, the lawyer can come to a better understanding with the lender
concerning your property and financial condition. When negotiation fails,
the appropriate legal action will be filed.
What Can the Lucas Law Center Do For You?
The Lucas Law Center is committed to keeping you in your homes. It
renegotiates existing mortgage contracts of clients with lenders. The
Lucas Law Center can successfully process a loan modification when the
initial teaser rate has expired. The teaser rate may be extended to allow
the client to keep the house, while the lender still collects the monthly
dues. This benefits both client and lender.
The Lucas Law Center can get to the right people in the lender’s office.
Its lawyers talk directly to the lender’s attorneys and key people in the
organization, people who can make decisions. When negotiations fail and
complaints are valid, it does not hesitate to file suit in court.
It is dedicated to protect the client’s most valuable asset—the
home. Visit http://lucaslawcenter.com for more info.
About The Author
Bobby Presley was born in New York City on April 3, 1975. Currently
working as an entrepreneur and salesman, he sometimes spends his free
time by writting aticles related to law as a way to offer services to
readers as well as broaden his knowledge in term of law.
by: Bobby Presley
Foreclosures continue to increase in numbers as the economy continues to
go down. More and more homeowners are having difficulty keeping their
homes. Some homeowners try to have their loans modified by their lenders
only to be frustrated.
What is Loan Modification?
Loan modification involves the adjustment and renegotiation of the terms
and conditions of an existing mortgage contract allowing for more
affordable payment rates that will fit your budget. If an account is
delinquent, loan modification brings your account to current status. It
is not the same as refinancing. You do not need good credit standing as a
prerequisite for the terms to be modified. Change of terms is dependent
on the type of loan obtained. The most problematic loan is the adjustable
rate mortgage. You can have this changed to the fixed-rate loan. A
fixed-rate loan is better because you can adjust your rate to better suit
your budget. Lower rate means lower payments. Loan terms can also be
extended, for example from 20 to 30 years.
Do You Need a Lawyer?
Not necessarily. But having the services of a good attorney to represent
you during negotiation proves to be more advantageous. It will
dramatically increase the possibility of success in the loan modification
process. A lawyer can provide a more detailed and careful analysis of the
situation. Better equipped with knowledge on the different options open
to you, the lawyer can come to a better understanding with the lender
concerning your property and financial condition. When negotiation fails,
the appropriate legal action will be filed.
What Can the Lucas Law Center Do For You?
The Lucas Law Center is committed to keeping you in your homes. It
renegotiates existing mortgage contracts of clients with lenders. The
Lucas Law Center can successfully process a loan modification when the
initial teaser rate has expired. The teaser rate may be extended to allow
the client to keep the house, while the lender still collects the monthly
dues. This benefits both client and lender.
The Lucas Law Center can get to the right people in the lender’s office.
Its lawyers talk directly to the lender’s attorneys and key people in the
organization, people who can make decisions. When negotiations fail and
complaints are valid, it does not hesitate to file suit in court.
It is dedicated to protect the client’s most valuable asset—the
home. Visit http://lucaslawcenter.com for more info.
About The Author
Bobby Presley was born in New York City on April 3, 1975. Currently
working as an entrepreneur and salesman, he sometimes spends his free
time by writting aticles related to law as a way to offer services to
readers as well as broaden his knowledge in term of law.
Friday, June 12, 2009
Top Ten List of Eligible VA Loan Purposes
Top Ten List of Eligible VA Loan Purposes
by: Bruce Charles
VA is authorized by law to guarantee loans made to eligible veterans only
for the following purposes:
1. You can purchase or construct a residence to be owned and occupied by
the veteran as a home. The loan may include simultaneous purchase of the
land on which the residence is situated or will be situated.
2. Loans may also be guaranteed for the construction of a residence on
land already owned by the veteran (A portion of the loan may be used to
refinance a purchase money mortgage or sales contract for the purchase of
the land, subject to reasonable value requirements.)
3. The residential property may not consist of more than four family
units and one business unit except in the case of certain joint loans.
4. To refinance an existing VA-guaranteed or direct loan for the purpose
of a lower interest rate.
5. To refinance an existing mortgage or other indebtedness secured by a
lien of record on a residence owned and occupied by the veteran as a home.
6. To repair, alter, or improve a residence owned by the veteran and
occupied as a home.
7. To simultaneously purchase and improve a home.
8. To improve a residence owned and occupied by the veteran as the
veteran’s home through the installation of residential energy
improvements. These energy efficiency improvement loans can be made in
conjunction with any type of VA purchase or refinancing loan.
9. To purchase a single family unit in a residential condo development
approved by VA.
10. To purchase a farm residence to be owned and occupied by the veteran
as a home. If the loan includes the purchase of farmland, the farmland is
appraised at its residential value only.
About The Author
www.freevaloan.com is a FREE comprehensive website for our military and veterans to come for information regarding VA loans but most importantly, make good on the promise to provide visitors access to Certified VA
Lenders that charge NO FEES. Visit today and find out how serious we are
about helping our veterans save thousands of dollars.
by: Bruce Charles
VA is authorized by law to guarantee loans made to eligible veterans only
for the following purposes:
1. You can purchase or construct a residence to be owned and occupied by
the veteran as a home. The loan may include simultaneous purchase of the
land on which the residence is situated or will be situated.
2. Loans may also be guaranteed for the construction of a residence on
land already owned by the veteran (A portion of the loan may be used to
refinance a purchase money mortgage or sales contract for the purchase of
the land, subject to reasonable value requirements.)
3. The residential property may not consist of more than four family
units and one business unit except in the case of certain joint loans.
4. To refinance an existing VA-guaranteed or direct loan for the purpose
of a lower interest rate.
5. To refinance an existing mortgage or other indebtedness secured by a
lien of record on a residence owned and occupied by the veteran as a home.
6. To repair, alter, or improve a residence owned by the veteran and
occupied as a home.
7. To simultaneously purchase and improve a home.
8. To improve a residence owned and occupied by the veteran as the
veteran’s home through the installation of residential energy
improvements. These energy efficiency improvement loans can be made in
conjunction with any type of VA purchase or refinancing loan.
9. To purchase a single family unit in a residential condo development
approved by VA.
10. To purchase a farm residence to be owned and occupied by the veteran
as a home. If the loan includes the purchase of farmland, the farmland is
appraised at its residential value only.
About The Author
www.freevaloan.com is a FREE comprehensive website for our military and veterans to come for information regarding VA loans but most importantly, make good on the promise to provide visitors access to Certified VA
Lenders that charge NO FEES. Visit today and find out how serious we are
about helping our veterans save thousands of dollars.
Thursday, June 11, 2009
Why the Bank Doesn’t Want Your House
Why the Bank Doesn’t Want Your House
by: Karla Jo Helms
An Insider’s View of Why It’s Best to Work With Your Lender – For You AND
the Bank – When You’re in Danger of Losing Your House
Once upon a time, collateral was king when it came to borrowing money.
And your home was typically the crown jewel of your collateral assets.
Home ownership gave you instant credibility to a lender who could quickly
pull up your payment history and deduce from past payment schedules that,
yes, you were a reliable borrower and, even if something went south – a
lost job, a divorce, an illness in the family – with the house as
collateral, the bank would never lose money on your loan.
But now the market is saturated with foreclosed homes, short sales and
defaulted home loans. The value of property in some of the most saturated
areas continues to go down and has yet to hit rock bottom, leaving both
homeowners and bank owners in a precarious position.
According to Robert Sumner, CEO of First National Bank of Pasco (FNB
Pasco) near Tampa, Florida, “Everything is down right now; not only are
we making fewer home loans but we are seeing fewer home improvement loans
as well.”
Sumner clarifies: “Those who still have their homes are simply trying to
ride out the storm and waiting until the market goes back up; they don’t
want to throw ‘good money after bad’ by doing costly home improvements if
they’re not going to get their value back. Unfortunately, others are
losing their homes altogether.”
Sumner is referring, of course, to the staggering amount of foreclosed
properties currently flooding the market. And he should know; Florida
features one of the highest numbers of foreclosures in the country right
now. Nationally, according to CNNMoney.com, “More than 1.5 million homes
are seriously delinquent and close to foreclosure.” What’s more, a new
study finds that “…more than 20% of U.S. homeowners – about 20 million
residences – owe more than their homes are worth.” [Source: CNNMoney.com]
Not wanting to become part of the problem but preferring to remain part
of the solution, now more than ever banks are eager to stay out of the
foreclosure business and do what they do best: banking. In other words,
your bank doesn’t want your house. Rather, they’d prefer to work with you
so that you keep the house.
Banks don’t want your home for two basic reasons.
First, the bank is not in the real estate business. They don’t want to
filter precious assets of time, personnel and energy into inspecting the
residence, listing your home, making concessions or worrying about upkeep.
Further, who will mow the lawn and prune the shrubs once you’ve
foreclosed on the property? Either the bank spends money to hire someone
to do it or lets it alone to become not only an eyesore to the community
but a liability on the already-competitive housing market. Either way,
the bank loses money.
Secondly, when the bank takes over the house the price is drastically
reduced. According to Sumner, “Once the message is out that this is a
‘bank-owned’ property, both savvy realtors and buyers know that they
suddenly have the upper hand; they know the bank wants to unload this
property and they now have a much stronger bargaining chip. We typically
experience a 30% loss on the value of the property the minute we assume
ownership.”
What can you do to avoid missing mortgage payments or, barring that,
avoid foreclosure? Sumner lists three simple steps you can take to work
with your lender to avoid your own financial meltdown:
1.) Reach out before it’s too late: If your income has been affected or
your debts have simply snowballed to the point where paying your mortgage
this (or even next) month is looking less and less likely, don’t bury
your head in the sand but reach out to your lender and start
communicating with them, sooner rather than later. They can’t help you if
they don’t know you’re in trouble.
2.) Come prepared: The bank will need information to help you restructure
your payments, refinance the loan or possibly delay a payment or two to
help you with a current situation. Be sure to bring the latest
information on your income, how it’s been affected, your current bills
and debt load. Calling the bank beforehand (or visiting its website) will
help you gather a specific list for each vendor.
3.) Prepare for the worst: Not every bank can help in every situation.
Short of foreclosure, you will still need to pay your mortgage on time
and Sumner warns you shouldn’t expect miracles. However, rather than take
over your home the bank would rather work with you, realistically, to
help you avoid foreclosure.
Sumner warns there is no simple fix when budgets are tight and your
mortgage continues to be your biggest expenditure per month. However, he
stresses, “avoiding the issue is never the answer.”
About The Author
After handling the PR for an Inc 500 company for several years Karla Jo
Helms was ready to launch out on her own allowing her to bring her unique
take on the world of PR to businesses both large and small. “Public
Relations is a powerful tool that can garner wide acceptance and delve
into arenas that marketing cannot touch,” says Karla Jo, PR Strategist
and Published Author. Helms got her start creating and implementing PR
Strategies for entrepreneurs, which helped her develop a keen eye for how
to hone in on the best use of PR and technology to increase the Return On
Investment of one’s marketing dollars. Her theory on how attaining
critical mass by utilizing all areas of PR and Marketing in today's world
allows her to put together complete strategies for clients that attain
measurable results. A background in sales, business management and media
relations has given her the well-rounded understanding of how to harness
the power of PR to communicate to diverse groups of people...the end
result being a wider sphere of influence and the invaluable commodity of
goodwill garnered on a broad basis for her clients.
Visit the author's web site at: http://www.jotopr.com
by: Karla Jo Helms
An Insider’s View of Why It’s Best to Work With Your Lender – For You AND
the Bank – When You’re in Danger of Losing Your House
Once upon a time, collateral was king when it came to borrowing money.
And your home was typically the crown jewel of your collateral assets.
Home ownership gave you instant credibility to a lender who could quickly
pull up your payment history and deduce from past payment schedules that,
yes, you were a reliable borrower and, even if something went south – a
lost job, a divorce, an illness in the family – with the house as
collateral, the bank would never lose money on your loan.
But now the market is saturated with foreclosed homes, short sales and
defaulted home loans. The value of property in some of the most saturated
areas continues to go down and has yet to hit rock bottom, leaving both
homeowners and bank owners in a precarious position.
According to Robert Sumner, CEO of First National Bank of Pasco (FNB
Pasco) near Tampa, Florida, “Everything is down right now; not only are
we making fewer home loans but we are seeing fewer home improvement loans
as well.”
Sumner clarifies: “Those who still have their homes are simply trying to
ride out the storm and waiting until the market goes back up; they don’t
want to throw ‘good money after bad’ by doing costly home improvements if
they’re not going to get their value back. Unfortunately, others are
losing their homes altogether.”
Sumner is referring, of course, to the staggering amount of foreclosed
properties currently flooding the market. And he should know; Florida
features one of the highest numbers of foreclosures in the country right
now. Nationally, according to CNNMoney.com, “More than 1.5 million homes
are seriously delinquent and close to foreclosure.” What’s more, a new
study finds that “…more than 20% of U.S. homeowners – about 20 million
residences – owe more than their homes are worth.” [Source: CNNMoney.com]
Not wanting to become part of the problem but preferring to remain part
of the solution, now more than ever banks are eager to stay out of the
foreclosure business and do what they do best: banking. In other words,
your bank doesn’t want your house. Rather, they’d prefer to work with you
so that you keep the house.
Banks don’t want your home for two basic reasons.
First, the bank is not in the real estate business. They don’t want to
filter precious assets of time, personnel and energy into inspecting the
residence, listing your home, making concessions or worrying about upkeep.
Further, who will mow the lawn and prune the shrubs once you’ve
foreclosed on the property? Either the bank spends money to hire someone
to do it or lets it alone to become not only an eyesore to the community
but a liability on the already-competitive housing market. Either way,
the bank loses money.
Secondly, when the bank takes over the house the price is drastically
reduced. According to Sumner, “Once the message is out that this is a
‘bank-owned’ property, both savvy realtors and buyers know that they
suddenly have the upper hand; they know the bank wants to unload this
property and they now have a much stronger bargaining chip. We typically
experience a 30% loss on the value of the property the minute we assume
ownership.”
What can you do to avoid missing mortgage payments or, barring that,
avoid foreclosure? Sumner lists three simple steps you can take to work
with your lender to avoid your own financial meltdown:
1.) Reach out before it’s too late: If your income has been affected or
your debts have simply snowballed to the point where paying your mortgage
this (or even next) month is looking less and less likely, don’t bury
your head in the sand but reach out to your lender and start
communicating with them, sooner rather than later. They can’t help you if
they don’t know you’re in trouble.
2.) Come prepared: The bank will need information to help you restructure
your payments, refinance the loan or possibly delay a payment or two to
help you with a current situation. Be sure to bring the latest
information on your income, how it’s been affected, your current bills
and debt load. Calling the bank beforehand (or visiting its website) will
help you gather a specific list for each vendor.
3.) Prepare for the worst: Not every bank can help in every situation.
Short of foreclosure, you will still need to pay your mortgage on time
and Sumner warns you shouldn’t expect miracles. However, rather than take
over your home the bank would rather work with you, realistically, to
help you avoid foreclosure.
Sumner warns there is no simple fix when budgets are tight and your
mortgage continues to be your biggest expenditure per month. However, he
stresses, “avoiding the issue is never the answer.”
About The Author
After handling the PR for an Inc 500 company for several years Karla Jo
Helms was ready to launch out on her own allowing her to bring her unique
take on the world of PR to businesses both large and small. “Public
Relations is a powerful tool that can garner wide acceptance and delve
into arenas that marketing cannot touch,” says Karla Jo, PR Strategist
and Published Author. Helms got her start creating and implementing PR
Strategies for entrepreneurs, which helped her develop a keen eye for how
to hone in on the best use of PR and technology to increase the Return On
Investment of one’s marketing dollars. Her theory on how attaining
critical mass by utilizing all areas of PR and Marketing in today's world
allows her to put together complete strategies for clients that attain
measurable results. A background in sales, business management and media
relations has given her the well-rounded understanding of how to harness
the power of PR to communicate to diverse groups of people...the end
result being a wider sphere of influence and the invaluable commodity of
goodwill garnered on a broad basis for her clients.
Visit the author's web site at: http://www.jotopr.com
Wednesday, June 10, 2009
Is it Possible to Live With a Cash Only Budget?
by: Elizabeth Williams
As interest rates increase and finance fees seem to cost more than your
minimum payment for credit cards, it's no wonder many people are
considering moving to a cash-only budget system. People who are
frustrated with how the credit card industry has been raising interest
rates and lowering credit limits to reduce their risks lately have been
considering cash-only budgeting – would you benefit from it? Is it even
possible?
For those who rely on their credit cards to make ends meet, you may be
thinking, “you can't possibly be serious!” But there is a small
percentage of people who already live without using credit cards, proving
it IS possible – but is it right for you? Here's how to decide:
Active or Passive Opt-Out
Passively choosing to live without credit means you live the ultimate
cash-only lifestyle. You don't finance anything, in addition to avoiding
credit cards, which means you don't get a loan for a car or a mortgage
for a home, for example. If you already have these loans, it means
working hard to pay them off and avoiding all other credit sources in the
meantime.
Passively opting out of the credit system means that you no longer
participate in the credit system. You'll pay the bills you have, but will
not create new debts by taking on new sources of credit. Your credit
history will become dormant as you pay off existing debts and not use any
other credit - and as a result, your credit score will probably go down
as well.
Living without credit means if you have to buy ANYTHING at all, no matter
the cost, you must buy it with cash – including large purchases like
automobiles and homes. People who choose this lifestyle tend to be very
good at saving money, so that they have it available when they need to
make a purchase. They also tend to have higher incomes than people who
become over-ridden with debt but it is definitely possible to live a
cash-only lifestyle on lower incomes as well (and very beneficial!)
Some purchases are difficult to buy without a credit card – things like
airline tickets, car rental or hotel rooms for example. People who live
cash-only lifestyles simply get a debit card with a Visa or MasterCard
logo connected to their checking accounts and use this in place of credit
cards whenever necessary.
Actively removing yourself from the credit system is just about
impossible. If you are already using some form of credit or financing,
you will not be able to get rid of the details on your credit history and
would simply have to wait until your payments have all been made to
existing credit before you could have no credit history (and it would
take several years for the information on your credit report to “go
away”).
While it's admirable to want to live a cash-only lifestyle, it may be
better to use a small amount of credit and pay your bills on time. This
will enable you to have a good credit score without carrying a lot of
debt, and should you ever need financing for emergencies or other
purchases – you should have no difficulty getting it.
About The Author
Elizabeth Williams, Editor-in-Chief for http://www.CreditCardFlyers.com
http://www.CreditCardFlyers.com makes it easy to compare and apply for a variety of credit card offers
featuring low balance transfer rates. We are the leading source for
searching 0 apr balance transfer offers online.
by: Elizabeth Williams
As interest rates increase and finance fees seem to cost more than your
minimum payment for credit cards, it's no wonder many people are
considering moving to a cash-only budget system. People who are
frustrated with how the credit card industry has been raising interest
rates and lowering credit limits to reduce their risks lately have been
considering cash-only budgeting – would you benefit from it? Is it even
possible?
For those who rely on their credit cards to make ends meet, you may be
thinking, “you can't possibly be serious!” But there is a small
percentage of people who already live without using credit cards, proving
it IS possible – but is it right for you? Here's how to decide:
Active or Passive Opt-Out
Passively choosing to live without credit means you live the ultimate
cash-only lifestyle. You don't finance anything, in addition to avoiding
credit cards, which means you don't get a loan for a car or a mortgage
for a home, for example. If you already have these loans, it means
working hard to pay them off and avoiding all other credit sources in the
meantime.
Passively opting out of the credit system means that you no longer
participate in the credit system. You'll pay the bills you have, but will
not create new debts by taking on new sources of credit. Your credit
history will become dormant as you pay off existing debts and not use any
other credit - and as a result, your credit score will probably go down
as well.
Living without credit means if you have to buy ANYTHING at all, no matter
the cost, you must buy it with cash – including large purchases like
automobiles and homes. People who choose this lifestyle tend to be very
good at saving money, so that they have it available when they need to
make a purchase. They also tend to have higher incomes than people who
become over-ridden with debt but it is definitely possible to live a
cash-only lifestyle on lower incomes as well (and very beneficial!)
Some purchases are difficult to buy without a credit card – things like
airline tickets, car rental or hotel rooms for example. People who live
cash-only lifestyles simply get a debit card with a Visa or MasterCard
logo connected to their checking accounts and use this in place of credit
cards whenever necessary.
Actively removing yourself from the credit system is just about
impossible. If you are already using some form of credit or financing,
you will not be able to get rid of the details on your credit history and
would simply have to wait until your payments have all been made to
existing credit before you could have no credit history (and it would
take several years for the information on your credit report to “go
away”).
While it's admirable to want to live a cash-only lifestyle, it may be
better to use a small amount of credit and pay your bills on time. This
will enable you to have a good credit score without carrying a lot of
debt, and should you ever need financing for emergencies or other
purchases – you should have no difficulty getting it.
About The Author
Elizabeth Williams, Editor-in-Chief for http://www.CreditCardFlyers.com
http://www.CreditCardFlyers.com makes it easy to compare and apply for a variety of credit card offers
featuring low balance transfer rates. We are the leading source for
searching 0 apr balance transfer offers online.
Tuesday, June 9, 2009
Salary Negotiation – A Tricky Business
Salary Negotiation – A Tricky Business
by: Todd Bavol
Whether you live to work or work to live, there comes a point in your job
search when you are going to have to talk money, and as much as we either
love or need the stuff, this is a conversation that few of us look
forward to. If we settle for too little, we are likely to spend the next
few years kicking ourselves, and perhaps even feeling resentful towards
our employer. If we ask for too much, we risk losing the job offer. A
careful balancing act is called for…and nerves of steel.
The first question to consider when it comes to salary negotiation is
when to have the conversation, and it is crucial to remember here that
employers DO use both salary expectations and current earnings to sift
candidates in and out. Show your hand too early and you might never even
have the chance to reach the negotiation stage. The other thing to bear
in mind is that until such time as you have been interviewed and had the
opportunity to find out precisely what the position involves, you cannot
possibly know what it is worth. Never include a salary expectation or
indicate your current or past salaries in your resume or on an
application form, never discuss remuneration at a first interview and
always leave it to the employer to raise the subject at all. The time to
talk money is only after you have received a job offer. Before this
point, all of your efforts should be on impressing the recruiter with
your skills, accomplishments and enthusiasm. When you know for certain
that the company wants to hire you, your bargaining power will be at its
strongest.
When the appropriate time for the conversation does arrive, one of the
most important things to remember is that whatever you agree to at the
outset will set the baseline for all subsequent raises, bonuses and
benefits, many of which are calculated as a percentage of current
earnings. Whatever you accept in the first instance, therefore, will not
only affect you in the short term, but potentially for years to come.
Here are a few tips to bear in mind:
1. Before you even get to the negotiation stage, be sure to quantify your
achievements in precise terms so that the employer can see clearly what
value and benefit you will bring to his business. If you can express
these in monetary terms (how much you can either make him or save him),
then it will be so much easier to justify a good salary.
2. If you find yourself in a situation where an employer is pressing you
to discuss money prematurely, speak only in terms of a salary range so
that he understands that you are aware of what the going rate is, and
then make it abundantly clear that the matter is negotiable.
3. Salary negotiation is about compromise and achieving a win-win
situation for you and the employer. Be prepared to be flexible but do go
into the negotiation knowing your own bottom line. There is absolutely no
point in allowing yourself to be pushed to a point which simply is not
financially viable.
4. Do your research. Find out as much as you can about the pay scale of
the company that you are applying to and what the going rate is for
similar positions within similar companies. Remember too that salaries do
vary from region to region and just because you could command one figure
in one location does not mean that it is necessarily reasonable in yours.
I will come back to the issue of how to determine your own worth in
another post.
5. Part of understanding what it is reasonable to expect involves
understanding whether employees in your particular role, or who have your
particular skills and qualifications, are currently in demand. The laws
of supply and demand apply equally to the job market as to any other.
6. Use your experience to your advantage. The ability to ‘hit the ground
running’ without incurring the time and expense of training is worth
money.
7. Do not forget that remuneration is not just about money. Medical,
dental, eye care and life insurance, company vehicles, vacation days,
sick/personal days, 401(k) plans and pension plans, stock options, health
club memberships and expenses reimbursement are just some of the things
that can be used as part of the negotiation.
8. Try not to dive in too quickly to accept an offer. Even if it seems
pretty reasonable, a moment’s hesitation might persuade the employer to
up it. If he does not, and his first offer is entirely acceptable to you,
do not be afraid to accept it.
9. Try not to dive in too quickly to reject an offer. If you do so
without even appearing to consider it, you may be viewed as greedy or a
little too cocky. If what you consider to be a reasonable offer is not
ultimately forthcoming, however, do not be afraid to walk away from the
deal.
10. Leave your personal financial considerations out of the negotiation.
While it is important that you know your bottom line, employers are not
interested in how much your mortgage or your credit card payments are
costing you.
11. Keep the negotiations friendly and always remain calm and in control.
Throwing your toys out of your crib because you cannot get what you want
will not impress your future boss. A salary negotiation is a business
exchange which is aimed at reaching a mutually acceptable agreement and
should be kept professional at all times.
12. In the same way that you would prepare for your interview questions,
you should also prepare for a salary negotiation. Think beforehand about
how you are going to respond if the employer suggests that you are asking
too much or comes in with a low offer based on lack of experience or
qualifications.
About The Author
I am committed to providing people quick access to job search and career
information. Over 20 years of experience in the HR and Career Coaching
field has given me a vast amount of information and resources to share
with you. My natural curiosity and desire to be on the leading edge of
EVERYTHING, brings value to you as a blog participant because I will keep
you informed of updates, changes and innovations that will assist you in
finding the job
http://www.integritycareertransitions.com/blog
by: Todd Bavol
Whether you live to work or work to live, there comes a point in your job
search when you are going to have to talk money, and as much as we either
love or need the stuff, this is a conversation that few of us look
forward to. If we settle for too little, we are likely to spend the next
few years kicking ourselves, and perhaps even feeling resentful towards
our employer. If we ask for too much, we risk losing the job offer. A
careful balancing act is called for…and nerves of steel.
The first question to consider when it comes to salary negotiation is
when to have the conversation, and it is crucial to remember here that
employers DO use both salary expectations and current earnings to sift
candidates in and out. Show your hand too early and you might never even
have the chance to reach the negotiation stage. The other thing to bear
in mind is that until such time as you have been interviewed and had the
opportunity to find out precisely what the position involves, you cannot
possibly know what it is worth. Never include a salary expectation or
indicate your current or past salaries in your resume or on an
application form, never discuss remuneration at a first interview and
always leave it to the employer to raise the subject at all. The time to
talk money is only after you have received a job offer. Before this
point, all of your efforts should be on impressing the recruiter with
your skills, accomplishments and enthusiasm. When you know for certain
that the company wants to hire you, your bargaining power will be at its
strongest.
When the appropriate time for the conversation does arrive, one of the
most important things to remember is that whatever you agree to at the
outset will set the baseline for all subsequent raises, bonuses and
benefits, many of which are calculated as a percentage of current
earnings. Whatever you accept in the first instance, therefore, will not
only affect you in the short term, but potentially for years to come.
Here are a few tips to bear in mind:
1. Before you even get to the negotiation stage, be sure to quantify your
achievements in precise terms so that the employer can see clearly what
value and benefit you will bring to his business. If you can express
these in monetary terms (how much you can either make him or save him),
then it will be so much easier to justify a good salary.
2. If you find yourself in a situation where an employer is pressing you
to discuss money prematurely, speak only in terms of a salary range so
that he understands that you are aware of what the going rate is, and
then make it abundantly clear that the matter is negotiable.
3. Salary negotiation is about compromise and achieving a win-win
situation for you and the employer. Be prepared to be flexible but do go
into the negotiation knowing your own bottom line. There is absolutely no
point in allowing yourself to be pushed to a point which simply is not
financially viable.
4. Do your research. Find out as much as you can about the pay scale of
the company that you are applying to and what the going rate is for
similar positions within similar companies. Remember too that salaries do
vary from region to region and just because you could command one figure
in one location does not mean that it is necessarily reasonable in yours.
I will come back to the issue of how to determine your own worth in
another post.
5. Part of understanding what it is reasonable to expect involves
understanding whether employees in your particular role, or who have your
particular skills and qualifications, are currently in demand. The laws
of supply and demand apply equally to the job market as to any other.
6. Use your experience to your advantage. The ability to ‘hit the ground
running’ without incurring the time and expense of training is worth
money.
7. Do not forget that remuneration is not just about money. Medical,
dental, eye care and life insurance, company vehicles, vacation days,
sick/personal days, 401(k) plans and pension plans, stock options, health
club memberships and expenses reimbursement are just some of the things
that can be used as part of the negotiation.
8. Try not to dive in too quickly to accept an offer. Even if it seems
pretty reasonable, a moment’s hesitation might persuade the employer to
up it. If he does not, and his first offer is entirely acceptable to you,
do not be afraid to accept it.
9. Try not to dive in too quickly to reject an offer. If you do so
without even appearing to consider it, you may be viewed as greedy or a
little too cocky. If what you consider to be a reasonable offer is not
ultimately forthcoming, however, do not be afraid to walk away from the
deal.
10. Leave your personal financial considerations out of the negotiation.
While it is important that you know your bottom line, employers are not
interested in how much your mortgage or your credit card payments are
costing you.
11. Keep the negotiations friendly and always remain calm and in control.
Throwing your toys out of your crib because you cannot get what you want
will not impress your future boss. A salary negotiation is a business
exchange which is aimed at reaching a mutually acceptable agreement and
should be kept professional at all times.
12. In the same way that you would prepare for your interview questions,
you should also prepare for a salary negotiation. Think beforehand about
how you are going to respond if the employer suggests that you are asking
too much or comes in with a low offer based on lack of experience or
qualifications.
About The Author
I am committed to providing people quick access to job search and career
information. Over 20 years of experience in the HR and Career Coaching
field has given me a vast amount of information and resources to share
with you. My natural curiosity and desire to be on the leading edge of
EVERYTHING, brings value to you as a blog participant because I will keep
you informed of updates, changes and innovations that will assist you in
finding the job
http://www.integritycareertransitions.com/blog
Monday, June 8, 2009
How to Improve Your Credit Rating
How to Improve Your Credit Rating
by: Bernz Jayma P.
Despite the popular belief that bad credit can only happen to people who
are financially irresponsible, the truth is that bad credit can actually
happen to anyone. Some individuals simply find themselves in a bad
situation either because they were suddenly laid-off or got a divorce.
Fortunately, there are techniques to improve your credit rating. The most
important thing to keep in mind is not to delay the process any longer.
Showing creditors that you are serious on your financial obligations will
enhance their confidence. Your credit worthiness will experience dramatic
improvements because of it. Rebuilding a good credit requires hard work
though. There are no shortcuts. In addition, the only lasting solution to
the problem is to change your perception about money and show it in your
behavior.
4 Simple Ways to Reestablish Your Credit
Simple steps can go a long way not only because it gradually builds your
credibility, it also shows potential lenders that there is a high chance
that you will be credit worthy in the future. Below are simple ways to do
this:
Face Reality Now
If you’re knee-deep in debt, stop thinking you’re not and accept it.
Denying it won’t solve anything and the only viable way to get out of it
is to solve your debt problem first. A lot of individuals can’t seem to
accept their situation. Make it a point never to fall for this trap
because you might find yourself in deeper problems in the future.
Find a Job
If you don’t have a job already, get one. This is one of the best ways to
establish your credit. The monthly income you receive each month can be
allocated to debt repayment as well. Showing creditors that you’re making
money will keep them at bay. It will also establish a record for you
almost immediately.
Meet Your Creditors
If you know for a fact that you’re overextended, contact your creditors
and find out if they are open to compromise. Generally, creditors simply
want to get paid. Many of them are actually willing to make a better
arrangement with you.
Borrow another Person’s Credit
If you typically use your parent’s or spouse’s credit card, your own
history will remain a blank page so your rating will be low. To solve
this problem, you can ask them to add you as a joint user. But make sure
that they have good ratings themselves or you might suffer from their bad
credit.
About The Author
Author and entrepreneur Bernz Jayma P. is the owner of a financial blog,
dedicated to helping people expand their knowledge about their personal
finances. Learn up to date investing strategies and retirement planning
by visiting http://www.Invesmint.com.
by: Bernz Jayma P.
Despite the popular belief that bad credit can only happen to people who
are financially irresponsible, the truth is that bad credit can actually
happen to anyone. Some individuals simply find themselves in a bad
situation either because they were suddenly laid-off or got a divorce.
Fortunately, there are techniques to improve your credit rating. The most
important thing to keep in mind is not to delay the process any longer.
Showing creditors that you are serious on your financial obligations will
enhance their confidence. Your credit worthiness will experience dramatic
improvements because of it. Rebuilding a good credit requires hard work
though. There are no shortcuts. In addition, the only lasting solution to
the problem is to change your perception about money and show it in your
behavior.
4 Simple Ways to Reestablish Your Credit
Simple steps can go a long way not only because it gradually builds your
credibility, it also shows potential lenders that there is a high chance
that you will be credit worthy in the future. Below are simple ways to do
this:
Face Reality Now
If you’re knee-deep in debt, stop thinking you’re not and accept it.
Denying it won’t solve anything and the only viable way to get out of it
is to solve your debt problem first. A lot of individuals can’t seem to
accept their situation. Make it a point never to fall for this trap
because you might find yourself in deeper problems in the future.
Find a Job
If you don’t have a job already, get one. This is one of the best ways to
establish your credit. The monthly income you receive each month can be
allocated to debt repayment as well. Showing creditors that you’re making
money will keep them at bay. It will also establish a record for you
almost immediately.
Meet Your Creditors
If you know for a fact that you’re overextended, contact your creditors
and find out if they are open to compromise. Generally, creditors simply
want to get paid. Many of them are actually willing to make a better
arrangement with you.
Borrow another Person’s Credit
If you typically use your parent’s or spouse’s credit card, your own
history will remain a blank page so your rating will be low. To solve
this problem, you can ask them to add you as a joint user. But make sure
that they have good ratings themselves or you might suffer from their bad
credit.
About The Author
Author and entrepreneur Bernz Jayma P. is the owner of a financial blog,
dedicated to helping people expand their knowledge about their personal
finances. Learn up to date investing strategies and retirement planning
by visiting http://www.Invesmint.com.
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