August
13
2014

Secured or unsecured: which one is the best financing option?

The secured loans and the unsecured loans are part of personal loans. But, both are opposite to each other. So, people may fall in a doubt which one to avail. Well, this is not a complicated decision to make if you know detailed attributes of these loans. And when you can identify which one will suit you best, you can certainly choose which one is better for you.

Secured loan: detailed attributes:

The secured loan must require an asset on which the loan can be backed by. When you are intending to get a secured loan, you will have to keep an asset as collateral. The asset must have to be as valuable as the loan balance. On this deal, you can get access to the loan.

The way you pay the debts back to the creditor, the asset will reach equity. The failure to pay the debts back will snatch the asset from you. The creditors will sell the asset and thus make the repayment done by selling that!

So, you can assume that being a borrower, you will have to carry 100% risk of the loan procedure. The creditors will not take any risk. Nevertheless, apart from all these risk matters, there are some important facts which can turn out to be favorable for you.

In fact, as you are securing the loan all alone by yourself, the creditors will facilitate you with the option of negotiation. So, you can negotiate your best to settle the best deal in terms of availing the net lend short term loan. So, even if the risk is 100% for you, you have the option to make the debt repayment affordable. This is certainly a fact which can reduce the risk.

Unsecured loan: detailed attributes:

If you are intending to get an unsecured loan, you must have to have better credit score. The better credit score will facilitate you with a favorable unsecured loan. The creditors of the unsecured financing measure the eligibility of the debtors in accordance with the credit scores. So, better credit score is needed. When you will have a better credit rating, the interest rate and terms will be favorable for you.

But, when you will have lower credit score, you will probably not going to be eligible for the loan. And even if you do, the interest rate may tend to be too high. In that case, there remains greater possibility that the debt repayment can turn out to be unaffordable for you. So, the unsecured loans are best for you when you have better credit score.

The bottom line:

Understanding the attributes from both sides, you can certainly identify that how much this is important to choose the perfect kind of financing for you. So, think which kind of financing will suit you best. And then decide whether you are going to take a secured loan or an unsecured loan. Both loans are great. But, the financing must suit you first!

August
13
2014

The credit card companies want the debtors to stay in debts: is it a smarter idea?

You may think whether the credit card companies want us to stay in debt or not. Well, even if the credit card companies want that to happen with the debtors, they don’t have any smarter way to show it. Rather, they adopt pretty anomalous way of representing this fact. For such tactics, some people go through mistrustful strategies and on the contrary banks keep on enhancing the amount of debt payment without even warning them.

A lot of fees charged:

In fact, while continuing with the debt, the debtors are being charged with annual fees, over the limit fees, late fees, international exchange fees and even more. And all these actually ties up the debtor’s neck in the long run. Consumer’s personal finance heads towards disaster for this codswallop strategy of the credit card companies.

Blaming consumers:

Consumers keep on blaming and questioning over these policies. Basically, if you take a look you will find that most of the Americans hold credit card debt over their shoulder. And eventually, these people are being blamed in a way that they created the situation for themselves. They are assumed to be the responsible one for this worse situation of credit card debt. But, blaming the consumers seems nonsense in many cases!

Lack of a perfect combination:

Basically, when a consumer grabs a credit card for day to day use, they get attracted with the advertisements provided by the company. But, they don’t even put effort to understand the fact. Certainly, the credit card companies run their business with this procedure. And for the bad credit service they offer to the consumers, they can ask interest over the expenditure the consumers make.

There is nothing wrong with this procedure. But, charging interest and fees and the debt management requires a perfect balance so that this doesn’t turn out to be a trouble for the consumers. So, a proper combination of interest rate and minimum monthly payment is needed while dealing with a credit card. And in this procedure, the company and bank will have to extract profit. But, such perfect combination is lacked in the procedure of credit card use and lending procedure.

A morbid activity and procedure for both creditors and debtors:

So, analyzing this scenario, this is certainly proven that the credit card companies actually want the debtors to stay in the debt and they stuck them in a procedure where the debts tend to increase. But, this procedure is dangerous for the company on the contrary. In fact, the credit card company and bank creates a situation where the debtors are forced to default. And eventually, this enhances the chance of bankruptcy.

Once the debtor is bankrupt, the creditors are obliged to forgive the debts. And if the debt is not being forgiven, the creditors need to settle the debt with a minimum amount. And that turns out to be a greater loss for the creditors. So, increasing the debt amount is certainly a foolish idea which is adopted by the credit card companies

August
1
2014

What are requotes in forex and why do they occur?

If you have been trading forex a considerable about of time, chances that you might have come across requotes depending on your broker. Requotes are a common phenomenon in forex trading and despite the fact that traders don’t take nicely to requotes is something that is unavoidable. Requotes in forex trading is defined as when you enter a market order but the broker decline your order and quotes a new price. For example, if EURUSD was trading at 1.35501 and you wanted to sell at market, one would usually expect the trade or sell order to be filled at market. However, with a requote the order is declined and instead you are shown a different or a new price level from your broker.

There are many reasons why requotes occur. In most cases requotes occur when markets are fast moving and by the time you place an order, the market has moved quite significantly. This can happen during times of news releases where price tends to be very volatile. Another reason for requotes could be slow Internet connections which delays in relaying the order information. Even a small delay of a few milliseconds in a fast moving market can result in requotes.

Besides the above two reasons, requotes can also happen more frequently in cases where the broker acts as a market maker, or in other words operates an in-house dealing desk where the broker becomes the counter-party to their customer’s trades. In such an event, the broker would obviously like to requote a higher price than what you would prefer to buy or a lower price from what you would prefer to sell.

Although technology now-a-days has improved, requotes, for whatever reason they occur is something that still continues to this day. Depending on your trading strategy, requotes can be quite detrimental towards your trading strategy. Requotes in forex usually tend to affect scalpers who trade on smaller time frames and during key market events. Sadly, there are quite a few forex EA’s as well which scalp the market, but their success is limited when requotes become a common phenomenon.

How does ForexFalcon EA avoid requotes?

The ForexFalcon EA’s trading strategy and logic is designed such that factors such as requotes or spreads or even slippage don’t play a major role. Because trades are taken on the basis of the prevailing trend on the daily chart time frames as well as considering support and resistance levels, the ForexFalcon EA can trade regardless of the above factors mentioned. This makes the ForexFalcon EA highly successful with its robust trading logic and not being influenced by any interfering factors from the broker or the market itself.

When purchasing any EA, traders might have come across disclaimers where the respective EA developers mention that the success of their EA is dependent on the broker’s spreads, slippage and requotes, thus subtly putting the performance factor onto the trader, which makes it easy for the other such EA’s to always fall back upon a reason for not performing as advertising.

With ForexFalcon, this is not true. The ForexFalcon EA works regardless of your broker’s trading conditions thus guaranteeing the monthly 7% profit that has been achieved in forward testing the expert advisor. Traders who fail to make a profit after using the ForexFalcon EA during the first month can claim a refund as well. To learn about the ForexFalcon EA, click here.

July
25
2014

Confused By Personal Finance? Check Out These Tips!

Confused By Personal Finance? Check Out These Tips!

If you are one of the millions living paycheck to paycheck, taking control of your personal finances is absolutely necessary. This may mean learning to live in an entirely different way than you are used to. Follow the advice below to take control of your personal finances and ease the transition to the changes you must make.

Scheduling a long car journey for the right time of year can save the traveler a lot of time and money. In general, the height of summer is the busiest time on the roads. If the distance driver can make his or her trip during other seasons, he or she will encounter less traffic and lower gas prices.

Search for cheaper utilities to get better personal finance. If you have had the same gas company, cell phone plan, or other utility for a while then shop around for a better deal. Many companies will gladly offer you better prices just to have you become their customer. This will definitely put more money in your pocket.

Write down numbers for contacting service providers such as your credit cards and bank in the event of loss or theft. With these toll-free numbers at hand, reporting and canceling will be much easier. They will also help if you need to find locations to get cash quickly. Store these numbers in your phone as well, but keep a written copy in case of phone issues.

Keep your credit rating high. More and more companies are using your credit rating as a basis for your insurance premiums. If your credit is poor, your premiums will be high, regardless of how safe you or your vehicle are. Insurance companies want to be sure that they will be paid and poor credit makes them wonder.

July
23
2014

Tips You Need To Consider And Put Into Place For Your Personal Finances

Tips You Need To Consider And Put Into Place For Your Personal Finances

When people first get out on their own and are learning to be independent, they tend to make a lot of mistakes. From where to live, to how to spend and save their money correctly. This article will help you take control of your personal finances, and find that you too can have success with money.

Don’t be exclusive! Many companies throw a curve-ball into their contract- a piece saying you can only work with them. If you want to make the most money for yourself, steer clear of those companies that require you to sign these. It’s best to work for a company willing to share the field, not only are they more confident in their products, but they also are more likely to have your best interests in mind.

It is important to know who, where, what, when and how, about each agency that reports on your credit history. If you do not follow up with each reporter on your credit file, you could be leaving a mistaken account reference on your history, that could easily be taken care of with a phone call.

Cooking at home can give you a lot of extra money and help your personal finances. While it may take you some extra time to cook the meals, you will save a lot of money by not having to pay another company to make your food. The company has to pay employees, buy materials and fuel and still have to profit. By taking them out of the equation, you can see just how much you can save.