Investing Your Money Properly

3 Ways You Can Sell Your Gold for Cash

If you’re struggling for money, selling stuff that you don’t need is a common way to get some extra cash. There are many different ways to sell your gold jewelry. If you’re trying to figure out which type of gold buying operation to use, here are 3 ways that you can sell your gold and the pros and cons of each one. Mail-in Companies You’ve probably seen commercials for cash for gold companies that strictly do mail-in operations. You call them to request a free kit, and they’ll send you a prepaid envelope and some paperwork to fill out. You mail back your gold jewelry in the prepaid envelope, and then they mail you a check for the gold with an itemized list of how much they paid you for each item. If you live in the middle of nowhere, don’t have a car, or you’re busy, this is a convenient way to get money for your unwanted jewelry. A downfall about mail-in gold companies is that it can potentially be time-consuming. If you don’t end up getting the amount you need for your gold and request a return, you have to wait for your jewelry to be mailed back before trying somewhere else. Some mail-in companies might offer a certain percentage less than other places as a convenience charge. If aren’t particularly worried about how much you’ll get for your jewelry, this is an easy way to sell what you have. Traveling Gold Buyers You may or may not be aware that these operations exist. There are traveling gold buyers that travel around the country and set up... read more

3 Ways Not To Clean Collectible Coins (And The 1 Way You Can Clean Them)

If there’s anything that gets novice coin collectors in trouble, it’s the sometimes overwhelming desire to clean the dirty and stained coins that you accumulate. The older the coin, the more likely it is to be debris encrusted, or to have a coloring quite different than what you’d expect the original metal to look like. There are plenty of tutorials and guides out there that explain how to remove debris and restore a coin’s original luster. The problem is that most of them are wrong. Take a look at a few coin cleaning methods you should never use. Metal Polish Metal polish is an obvious choice for someone looking to clean a metal coin. Some copper and silver polishes even advertise themselves as being good for coin cleaning. However, it’s never a good idea to polish a collectible coin. Sure, when you’ve finished, your coin might be shiny and may more closely resemble what you think that silver or copper should look like. The problem is, along with the dirt and debris, you’ve removed the patina of the coin. A patina is the greenish or brownish film that develops on the surface of the coin due to oxidation over time. On silver forks and spoons, you’d think of this as tarnish, and you’d be right to remove it. But on a coin, that film adds to the authenticity – and therefore the value – of your coin. Once you remove the patina, you greatly diminish the coin’s value. Toothpaste It’s understandable that you might consider trying toothpaste to get hard-to-clean debris off of your coins. After all, toothpaste removes... read more

Premium Checking Accounts: 3 Questions To Determine If Switching To One Is Worth It

Putting your money in the bank can be beneficial for many reasons. For one, you know your money is someplace safe, and two, you can build credit. There are approximately 7,500 FDIC insured banks you can put your money in, and each bank offers a variety of different accounts. Those who plan on constantly using their bank accounts and who plan on taking advantage of all that the banks have to offer should consider choosing premium checking accounts. If you’re still on the fence, here are 3 questions to think about. Do You Make ATM Withdrawals Frequently? One of the main benefits of getting a premium checking account is the fact that you can make as many ATM withdrawals as you’d like without getting charged a fee if you use an ATM owned by the bank. If you rely on the ATM regularly, you could save a significant amount of money by simply switching from a regular checking account to a premium checking account. Do keep in mind that using a non-bank-owned ATM to make withdrawals will result in a fee. The fee charged will differ based on the ATM owner. Do You Make Numerous Monthly Transactions? Most regular checking accounts place a limit on the amount of transactions you can make each month without getting charged a fee. Once again, those who rely heavily on their debit cards or those who make most of their bill payments online may benefit from switching to a premium checking account because they will be paying a significantly less amount of fees. Not all premium checking accounts offer unlimited monthly transactions. However,... read more

What You Should Know About Hard Money Loans

Borrowing money for a major investment such as a home, rental property or commercial building can be tough, especially if your credit score isn’t looking so hot these days. It’s why a growing number of people are turning to unconventional forms of lending to get the financing they need. Hard money loans offer an opportunity to those who’ve been turned away when applying for traditional loans. Read along to find out how it works and what you should look out for when applying for one from a lender like Lima One Capital. There are Many Different Types of Hard Money Loans Surprisingly, there are several different types of loans you’d think were traditional loans, but are actually considered hard money loans: Equity loans: These loans utilize equity — the difference between your building’s outstanding balance and its fair market value — to provide a lump sum of cash for borrowing purposes. Equity loans are junior to first mortgages, meaning an equity loan provider can step in to make payments on a defaulted mortgage and exercise its right to initiate a foreclosure. Bridge loans: Commonly used by sellers looking to purchase a new home before selling their existing home. This often makes it easier for borrowers to apply down payments onto a new home and move forward with the sale of their current home. Bridge loans often have high fees and numerous origination points, although this is largely offset by the loan itself carrying no payments for an initial 3 to 4-month period. Mortgage refinancing: This type of loan effectively pays off one or more property loans, resulting in a... read more

How A Payday Loan Can Be Used To Pay Off Your Tax Debt

If you recently filed your taxes and have a tax debt to pay, you really should find a way to clear it up as quickly as possible. When you owe the IRS money, they will not let it go. The debt will grow over time, and you will end up owing more later than you do now if you continue to put it off. Taking a payday loan is one of the best ways to pay off an IRS debt, and here are three things you should know about this. Why It’s Important To Pay Off Tax Debt When April 15 rolls around, you must file and pay any taxes you owe. The consequences of not paying off the taxes you owe by this date include paying interest and penalties on the debt. The first thing the IRS will do is charge you a penalty for failing to pay your taxes. This penalty is normally 5% of the amount owed, and the penalty rate is charged monthly. The second thing they will do is charge you interest on the debt. This interest is usually around 1% of the amount owed, and it is something that is charged every month until the debt is paid in full. When you don’t pay your taxes, you will owe more later. This is why it is better to find a way to pay the taxes by April 15. What Could Happen If You Don’t Pay It Off When the IRS receives your tax return without the payment, they will notify you about the debt. They will give you time to pay the amount... read more

The Pros And Cons Of A Payday Advance Loan

Even if you are the most fastidious of budgeters, there will most likely be some point in time when you are faced with an extreme financial emergency and will need to find a way to quickly get your hands on some cash. There are many options for loans, but a payday advance loan is a quick, easy, and low-hassle loan. If you need emergency money and are thinking about using a payday advance service, you should know the pros and the cons of taking out a payday loan. The Cons  Interest Rate  Payday loans are know for pretty high interest rates, and their interest rates are the largest disadvantage. Payday loan interest rates can be up to 400%. On top of that, there are also fees for taking out a loan. However, if you pay your loan back in a responsible manner, and on time, you won’t be paying excess interest. The problems start when you keep a loan out for an extended period of time, or start borrowing money in excess.  Ease Although the ease with which you can get a payday loan is an advantage, for some people it can also be a disadvantage. Due to the fact that payday loans are so accessible, many people might find themselves wanting to continue to take them out in non-emergency circumstances. They can be addicting, and if you find yourself compelled to take advantage of the ease of access, you might not want to start down the payday loan path.  Credit Score Neutral Depending on your credit, the fact that payday loans don’t impact your credit rating could be... read more

Five Strategies Payday Lenders Use To Screen Borrowers And Keep Fees Low

Payday loans are short term cash loans. Primarily used for emergencies but available for a range of purposes, these loans are typically funded on the day or the day after you apply, but they must be paid back on your next payday. In exchange for these convenience loans, borrowers have to pay fees, but luckily, there are a number of ways that payday lenders work to keep fees low. Here is a look at the top five: 1. Data-Sifting Algorithms To understand how payday lenders work to keep their fees low, you have to understand the basics of lending. Whether you are getting a mortgage, a credit card or a payday loan, the lender will typically base the interest rate (or fees) on your perceived ability to repay the loan. Basically, if you have a great credit history and a secure income, you are likely to repay loans, and as a result, lenders will treat you to lower interest rates. Payday lenders, in contrast, do not check credit reports, and thus, they need other ways to assess a borrower’s ability to repay. One option is to use a data-sifting algorithm. Using software that crunches all kinds of details from multiple online sources, these companies are able to identify competent borrowers and offer them lower fees. However, not every payday lender has warmed up to this screening method. Others use tried-and-tested methods such as post-dated checks to reduce risk of default and keep payday fees low. 2. Post-Dated Checks Abbreviated as pdc’s, post-dated checks were once commonly used to secure payday loans. Borrowers received their cash in person, and they... read more

Should You Sell Your Annuity For A Lump Sum Payment?

Do you have an annuity you don’t need or want anymore? Or do you need the cash for immediate financial needs and don’t want to wait for the annuity to mature? You can sell it for a lump sum payment. There are many companies that will buy it from you and give you the cash you need, with no credit checks necessary. But should you sell it? What are the pros and cons of selling your annuity for a lump sum payment, regardless of your need for the cash? You want to be sure you’re making the right financial decision, and one you will be happy you made without ever regretting it. Here’s what you need to know before you call up an annuity buying company and offer to sell for cash. 1. Will You Have Enough Money for Retirement If You Sell Your Annuity? According to, annuities are primarily used as vehicles for retirement income. When they mature, they will pay out a regular monthly income that can supplement Social Security, pension plans, and other retirement savings. Before you decide to get cash for your annuity, look at your retirement portfolio and take stock of it carefully. Will selling the annuity leave you without a reliable source of income other than Social Security after you retire? Will its absence mean you are not able to meet your expenses once you stop working? If so, you might want to reconsider selling it and look for other ways to get the money you need now. Alternately, you could consider selling only part of your annuity. You can do this... read more

3 Steps To Achieve A Better Financial State

Taking a payday loan is a great way to get by when you’re stuck in a financial crisis, but relying on payday loans every month can be financially devastating. If you find that you are taking these loans more frequently than usual, it may be time to examine your budget. Now might be a good time to restructure your budget and spending habits so you can learn to live within your means so you can stop relying on using payday loans all the time. Here are three steps that may help you with this. Step 1: Analyze Your Current Financial Position There are many ways to analyze where you stand financially, but there is a test you can use that is very helpful for this. The test is to find out if you are living within your means, which means spending less money than you earn. The best way to determine this is by looking at the debt you owe each month. If you see that your debt goes up each month, you are probably not living within your means. You are most likely spending more than you earn, and this is reflected by the increase in the total amount of debt. To determine if your debt is going up each month, you should make a list on the first of every month of all the debts you owe. When you do this, you can compare the totals each month, and hopefully you will find that the amount you owe is going down instead of up. If the amount is going down each month you are on the right... read more

Voluntary Departure Bonds: A Wise Choice For Detained Non-Citizens

Most American citizens are unfamiliar with immigration bonds, but they are an important component of the United States legal system. For non-citizens in the United States, either legal or illegal, the immigration bonding process is a critical step toward being allowed to either stay or leave under favorable circumstances. There is more than one type of immigration bond, but the voluntary departure bond is an ideal option for many non-citizens who have little hope of being able to stay in the United States. Here is more information about voluntary departure bonds and what a detainee can do to help ensure their chances of getting one. What is a voluntary departure bond? Detained non-citizens are held in custody by the Department of Homeland Security in special immigrant detainment centers. To leave one of these centers often requires the posting of bond. A voluntary departure bond is an agreement reached between the United States government and the non-citizen; it stipulates that the non-citizen agrees to voluntarily leave the United States within a specified period of time. Under the terms of a voluntary departure bond, the non-citizen generally pays the costs associated with leaving the country, which includes air travel and other expenses. In addition, the bonded person must pay a specified amount of money that will be repaid once they are out of the United States. The amount of money needed to post bond can be set by the Department of Homeland Security or by an immigration judge. A qualified bail bondsman can provide immigration bonds with a non-refundable fee charged for the service. What are the advantages of a voluntary... read more

About Me

I still remember the first bad financial decision I ever made. My seven-year-old buddy told me that if I lent him a few dollars, he would pay me back ten a few weeks later. Unfortunately, he forgot all about his debt, and I was left without my allowance. Although it might seem like a silly example, bad financial decisions like that one plague adults everyday. I have had my fair share, and so I decided to create a blog dedicated to helping you to invest your money properly. Before you take your hard-earned money and throw it at a cause, think about the advice on my website to make a great decision.

November 2015
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