Should You Take Out a Bad Credit Loan?

Can you borrow money if you have bad credit? It is possible but the reality is that acquiring a loan would not be easy if your personal credit isn’t at its best since most lenders offer their best rates to customers with high rating. Nonetheless, if you badly need cash for an emergency, there are some things you need to seriously consider before taking out a bad credit loan. 

Is borrowing money the real solution? Some people need to change their perspective about what constitutes an emergency and what does not. Is it absolutely necessary to take out a loan now? Have you considered alternative steps that wouldn’t require you to be in debt? How urgent and crucial is your need for cash? Can you wait out until you managed to save up enough money to resolve the problem? 

Can you afford repayment? Paying off your debts can prove to be a grueling task. An installment loan may come with very steep interest rates. Failing to submit your payment on a due date may also cost you extra penalty charges. So think about it. How do you plan to shoulder repayment once the loan has been spent? Would you be able to pay back that amount according to your lender’s terms? 

Which loan should you take? First of all, what is your purpose for wanting to get a loan?  Do you need money to buy a car, fund a business, pay medical bills, or for other personal reasons?  Be sure to find a loan that is suitable to your needs.

In addition, do not forget that if your personal credit is less than stellar, you cannot qualify for certain loans.  For instance, fast loans or anything loans are exclusively provided for borrowers with excellent credit.  If your credit isn't great, you need to make sure that approval would not be based on good credit standing.

Are you clear of the terms and conditions? The specific rules and fees will vary depending on the type of loan and the lending company you choose. Pay close attention to every detail of the fine print. You need to fully understand the stipulations of the contract before signing up anything. 

Can you trust your lender? It’s no secret that unscrupulous lenders or loan sharks abound in the market and borrowers need to be extremely careful to avoid them. What do you know about the lending company? Does it have a solid reputation and track record? Taking some time to do research can save you the trouble of dealing with a fraud. 

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Demonstratives: This, That, These, Those

What are demonstratives?  

This, That, These, Those are demonstratives. They are used to show the distance of an object or objects from the speaker. They can be used as pronouns or adjectives. When a demonstrative is used as an adjective, it modifies the noun. 

When do we use This, That, These, Those?

This -  if the noun is singular and is close to the speaker.

That - if the noun is singular and is far from the speaker.

These - if the noun is plural and is close to the speaker.

Those - if the noun is plural and is far from the speaker.

Try these exercises:

 ________ is a balloon.

 _________ are balloons.

 ______________ is a book.

___________ are books.

 ___________ is a hill.

 ___________ is a building.

 _________ are tomatoes.

_____________ are birds.

ANSWERS:

This is a balloon.

 These are balloons.

 This is a book.

These are books.

That is a hill.

That is a building.

Those are tomatoes.

Those are birds.

Handy Tips for A First-time Traveller

Are you planning to go on a trip any time soon? If so, check out these handy travel tips: 

Know the local custom and laws.  Conduct research in advance to know the custom, the laws, and the overall conditions in your destination especially if you are visiting a foreign country for the first time.

You can check out Travel.State.Gov, a website managed by the Bureau of Consular Affairs under the US Department of State, to get accurate information about the specific country you will visit.  In case of an emergency, the Bureau of Consular Affairs can be reached at 1-888-407-4747.

Take precautionary measures.  Write down or print your itinerary and passport information. Leave the document to a family or a trusted friend who stays in your country of origin. 

If you live in the US, don’t forget to sign up for the Smart Traveler Enrollment Program so the State Department can assist you right away in case of an emergency. You can sign up the form at https://travelregistration.state.gov. All the information you will provide regarding yourself and your planned trip will be held strictly confidential, in accordance with the Privacy Act.

If you have a medical insurance, review the policy to know if emergency expenses incurred overseas are covered in the plan.

Do not bring a large bulk of cash or wear conspicuous jewelry while on your trip.  Do not speak and never accept packages from strangers who may approach you.  

If you are on medication, be sure to bring along a letter from the attending physician.  The letter should clearly state your medical condition and the name including the generic names of the of prescription drugs you are carrying. Be sure to pack your medicine kit in your hand luggage for easy access. 

Pack light. Carrying too many luggage is a big hassle so bring only what’s necessary for your trip.  Choose clothes that are light, can be worn in layers, and can mixed and matched, especially if you’re going in a cold country or if you plan to stay there for a few weeks.  

Bring two or three coats that you can wear on top of casual as well as formal outfits, and two or three pairs of shoes that you can wear with a sporty, casual, and business attire.  You can also bring in a few accessories such as scarves and belts to create different looks with the same pieces of clothing.

Bring small, refillable, plastic bottles for your toiletries.  You can surely buy more of your personal stuff from a department store or a convenience store at your destination, unless you will be staying in an island or a remote province. Pack in extra underwears in your hand bag just in case something unexpected happens with your luggage.

Create a list and double check when you pack. Jot down all the things that you need to bring on your trip.  Gather all the items on your list in one place before putting them one-by-one in your suitcase.  As you put an item in your bag, strike through the item from your list so you can be sure that you will not leave behind anything important.  Don’t forget to bring with you the list and use it again when it’s time to re-pack and go back home.

Make sure that you can easily recognize your luggage from the rest of the bags at the airport by adding name tags and distinctive stickers.

Learn the local language.  If you are going in a country where English is not the primary language, it’s best to learn the basics.

Search for an online translator and check out phrases and terms that you might need to use in an everyday conversation such as the customary greetings, how to ask for directions, the local currency, etc.  Print it out and bring the copy with you.

Even if the people you meet understand and speak English, tourists who try to communicate using the local language are much appreciated.  Besides, meeting the local people and being able to converse with them in their dialect is part of what makes traveling fun and memorable.

Review the Terms and Conditions of your credit cards.  It is much safer to travel with a credit card than to bring a large amount of cash.  However, bring only the credit cards that you will need to use while on your trip.  Read the fine print so you can be aware of your privileges and limits as a cardholder.

Major credit card issuers usually provide perks and services that are important for travelers such as travel insurance, collision insurance for car rentals, lost luggage insurance, roadside assistance, etc. Using these perks can literally save you hundreds of dollars but you need to be ready to do the paperwork.  To be sure, call up your issuer and ask the exact procedures involved in claiming these perks. 

Furthermore, credit card transactions from an unfamiliar destination may trigger a fraud alert and the issuer may block the account to protect the cardholder so you should inform your bank about your planned trip. And while you’re on the phone, ask for the customer service hotline that you can call from your place of destination just in case you might need assistance.  Check out this article from Creditcards.com, “A Guide to Travelling with a Credit Card”.

Compare hotels at your destination.  Check out a hotel comparison website like Hotelscombined.com to find the best hotel sites in your destination. Thus, you can easily compare the ratings, reviews and prices of different hotels from one website.

Be adventurous. Enjoy the sights and sounds!  Don't be afraid to try out new things. Savor the taste of the local food. Observe how the people live. Speak the local language. Make new friends. Experience life in the other world. Learn.  Take photos and capture moments. 

photos:
1. car ride
2. suitcase
3. map

Health Insurance Tips for Freelance Workers

One of the most important advantages that regular employees enjoy is entitlement to benefits such as Social Security and health care.  A certain percentage of the monthly pay is automatically deducted as contribution for these services, including taxes.  Furthermore, the HR department takes care of all these so it’s the least of an employee’s worries. 

On the other hand, freelancers are in-charge of managing their time, projects, and personal finances.  When it comes to health concerns, freelancers or independent workers are usually at risks.  According to FreelancersUnion.org, a company that provides health insurance and benefits for the self-employed and freelancers in the US, “there are 42 million independent workers in the United States” who do not receive standard benefits. 

The New York Times  reveals that medical debt is cited as a substantial factor in the increase of personal bankruptcy filings.  Lack of health insurance poses a serious threat.  The high costs of hospitalization, medication, treatment and health care services are obvious; and no one is exempted from illness, accidents and other health-related issues.

If you are a freelancer, having a health insurance plan or a healthcare benefits plan is a valuable investment and is something that should not be overlooked.  Below are four practical pointers to remember before acquiring health insurance.

Comparison shop.  Private insurance companies offer varying plans and prices which is why you will need some time to explore and compare your options.   If you live in the UK, check out Paycare.org, a healthcare benefits service provider for individuals, families and businesses.

Know your personal needs.  Do you have a preferred hospital or do you prefer the services of a particular doctor?  If so, make sure that your chosen health care providers are affiliated with the prospective insurance company.  Check out Healthcare.gov to find the health insurance plan best suited to your needs and to compare health care and service providers.  The website is managed by the U.S. Department of Health & Human Services.

Seek professional assistance.  A health insurance broker can help you find the insurance coverage that is best suited to your needs and budget, explain the details of the plan, and assist you throughout the process.  Check out the National Association of Insurance Underwriters or the National Association of Insurance Commissioners to find a reputable health insurance adviser.

Open a Health Savings Account. An HSA is ideal for people who only plan to use their insurance for annual check-ups or occasional visits to the doctor. With an HSA, you can raise the amount of your deductible to lower your monthly insurance fees.  What’s great about an HSA is that funds will be availbale for any unexpected medical expenses and when you reach the age of 65, you can withdraw any money you didn't use and spend it as you like.

photo:
1. homebased

Energy-Saving Tips for Washing Machines and How to Save Money on Laundry

I am determined to do every possible way to cut down our electricity bill.  Last time, I posted energy-saving tips for refrigerators. Today, I looked up for practical ways to reduce a washing machine's energy consumption and how to save money on laundry. 

1. Wash with cold water. According to EnergySavers.gov, 90% of the energy used by a conventional top-load washing machine is for heating the water. 

2. Wash in full load. The washer uses the same of energy when washing a half load or a full load so you save more time energy if you choose the latter. 

3. Remove lint. Regularly clean the dryer and washer to remove lint. Lint gets in the way of the airflow and causes the dryer to work harder and consume more energy. (Check out Cloth Diaper Nation for ideas on how to recycle lint) 

4. Shorten the wash cycle. If clothes are not that dirty, you can reduce the "wash" minutes.

5. Measure the detergent you use. Use a cup to make sure that you don’t put in too much than what is needed for the load. 

6. Shorten spin drying. For light clothes, a short spin in the dryer should be enough to remove excess water so they can be hung to dry.

7. Hang to dry. On sunny days, skip the dryer and hang clothes in a clothes line or a drying rack to reduce energy consumption. 

8. Know when it’s time to wash. Some clothing pieces such as jackets and sweaters can be worn a couple of times before they need washing. Don’t toss it in the hamper right away. Instead, hang it neatly on a hanger or a clothing rack. (Read "The When-to-Wash-It Handbook" by Real Simple)

9. Check the ENERGY STAR label. If you live in the US and you plan to buy a washing machine, make sure it has the ENERGY STAR label. Use the EnergyGuide to compare which machine will enable you to conserve energy. 

10. Choose a front-loading washer. Front-loading washing machines are more energy efficient than top-loading machines. Investing on this type of washer will enable to cut down your electricity bill and save money over the long term. 

What energy-saving and money-saving tips can you share? 

What did you think of this article? I’d love to hear your thoughts. If you enjoyed the read or if you find it useful, kindly please click any of the sharing icons below. You can Tweet, Stumble, Share it on Facebook or +1 it.

Thanks,
Rachel:)




photos:
1. laundry day 
2. laundry room
3. clothes line

Should You Charge it To Your Credit?

For many people, using a credit card is inevitable, especially for consumers who live in the United States, where credit history and credit score are essential factors that can affect most financial aspects of living such as when applying for a credit card, a car loan, or mortgage; renting an apartment; or when applying for a job.

According to the U.S. Census Bureau, there were 159 million credit cardholders in the United States in 2000, 173 million in 2006, and that number is projected to increase to 181 million by 2010.

However, while a credit card offers the cardholder a quick and convenient access to the things and services they need, it’s important to recognize the potential dangers that uncontrolled use or mismanagement of this plastic presents.

For instance, charging the wrong kinds of expenses to a credit card can easily lead to serious debt problems.  Are you tempted to grab that hot vacation package offer online and charge it to your credit?  Some people may be brave enough to do things without a plan because they can finance it with a credit card but if you will ask the opinion of credit experts, they will most likely say that it’s a bad idea.

If you want to go on an escapade, the best thing to do is make plans ahead and save up for it.  Sure enough, booking a flight online or making a hotel reservation online requires a credit card, but you need to make sure that you already have the cash to pay off that balance in full before the due date. 

Travel expenses (airline tickets, hotel accommodation, car rental fees, food, pocket money, shopping allowance) can prove to be very costly.  Blindly charging these expenses to your credit card before and while on a trip is a dreadful habit.  After enjoying your getaway, a huge load of credit card debt awaits you.

Aside from travel expenses, there are other costs that should never be paid with a credit card unless you are certain that you can pay off the full balance on time. (Read 6 Expenses You Should Never Put on a Credit Card at Creditcards.com)  Things can start to become really ugly if you fail to make the full payment.  Interest rate charges can be so high on some credit cards that it can take you a very long time to zero in your balance if you will only pay the minimum due each month.

The Consolidated Credit, a company that offers credit counseling services, reports that in 2011, the average credit card debt per household is $6600.  It is an undeniable fact that credit card debt is a primary cause of financial hardship for many consumers in the US.

While owning a credit card brings certain advantages, a cardholder needs to have a precise and reasonable answer to the question, “Should I charge it to my credit?”  And if there seems to be no clear answer in sight, then that should be an obvious indication that maybe you should not charge it to your credit after all.

Do you own a credit card? What types of purchases or expenses do you pay with plastic?

What did you think of this article? I’d love to hear your thoughts. If you enjoyed the read or if you find it useful, kindly please click any of the sharing icons below. You can Tweet, Stumble, Share it on Facebook or +1 it.

Thanks,
Rachel:)

photos:
1. credit card
2. travel

Energy Saving Tips for Refrigerators and Freezers

According to Energy Savers, appliances account for about 17% of household energy consumption.  Add to that, a refrigerator uses almost five times electricity that the average television consumes.  We don't watch really watch TV but we do have a refrigerator.

We live in a city where the temperature can go down to as low as 10 degree Celsius.

What we do is unplug our refrigerator every night and usually the cold is enough to keep the food frozen until the next morning.  We wait when the motor goes off on its own before unplugging it from the power source.

I looked up more information on how we can minimize the energy consumption of this particular appliance so we can cut down our electricity bill.  Here's what I found:

If your refrigerator is too old, it will use up more energy. (Is it time for you to replace your old refrigerator or freezer? Check out this Refrigerator Retirement Savings Calculator to know the answer.)  Below are  tips to help reduce your fridge or freezer’s energy consumption: 

Position the refrigerator away from direct sunlight. Don’t place it near other appliances that produce heat such as heater, dishwasher, and oven. 

Leave enough room in between food packages especially on the sides, back, and top of your fridge to allow good air circulation. 

Allow food to cool down first before placing it inside the fridge.

Keep the door closed to prevent cold air from getting out. 

Don’t forget to defrost the freezer when the ice builds up. 

Clean the condenser coils regularly.

Make sure that the door seals are airtight. To test, insert a piece of paper between the seals and close the door. If you can pull the paper out easily, that means air is leaking. You can try to put petroleum jelly on the seals but if that doesn’t work, you may need to replace the seals. 

If you are going away for a few days or a few weeks, empty and clean the refrigerator, turn it off, unplug it from the power source and leave the door open. 

If you live in the US and plan to buy a new refrigerator, make sure it has the ENERGY STAR label. The US federal government requires most appliances to display the bright yellow and black EnergyGuide label so consumers can be aware of the annual energy consumption and operating cost for each appliance when doing comparison shopping.

For more tips on buying a refrigerator, visit the ACEEE’s website (American Council for an Energy-Efficient Economy).

What energy saving tips can you share? 

What did you think of this article? I’d love to hear your thoughts. If you enjoyed the read or if you find it useful, kindly please click any of the sharing icons below. You can Tweet, Stumble, Share it on Facebook or +1 it.

Thanks,
Rachel:)

photos:
1. refrigerator
2. pink refrigerator