How to Budget – 5 Easy Steps
March 26, 2015
How to Budget – 5 Easy Steps
Due to the ever increasing lifestyles that we lead, it is sometimes important to become a little frugal, and follow budgets. Following a budget can help in purchasing some dream object, which has been on our priority list. Well, we give below budgeting 5 easy steps, which can make you a frugal spender. It is very important to have a control on how much we spend, as compared to how much we earn. Some percentage of the total income should be saved so that you get closer to your dream:
Budgeting – 5 Easy Steps
- Evaluate the income: What is the income that you are earning? Create an excel file with all the sources of income, and enter the interest rates, rental income, and any other income.
- Calculate the expenses: Well, this is a difficult part. While we can track our income sources, expenses come in many forms. So, jot down all the fixed expenses that you incur every month. These would include car loan payments, rent, insurance policies, school fees, and other things. After that, include the variable expenses, like gas, food, entertainment, etc. Also, include other expenses, like car maintenance, gifts, taxes, and other things. Once you have the hang of your total expense, deduct it from the total income. This will give an alert to you about whether you are on an overspending spree, or a thrifty spender. It will also give you an idea about where you can cut down the expenses.
- Avoid wasteful expenditure: When you get a hang of your expenses, you can cut down wherever you can. It would be good to analyse and categorize the expenses into necessities and luxuries. Of course, you cannot avoid the necessities, but can definitely cut down on the luxuries.
- Have a good savings in your account: The job scene is quite unpredictable these days. So, one should save enough money to tide through the difficult times. If you have a good amount of money in your savings account, you would be able to get through the difficult period, even when you are switching jobs.
- Stick to your budget: This is easier said than done. But, when one looks at the big picture and the future rewards, this becomes an easier task.
Following these budgeting 5 easy steps will ensure that you lead a comfortable life, and are prepared to face all future calamities, as well.
Identity Fraud Protection
March 20, 2015
Useful Tips on Identity Fraud Protection
With the increased modernization and online tools available, one finds oneself in the centre of various kinds of frauds. And, one major fraud is the identity theft. These happen when a person obtains the personal information, like the credit card information, and other ID, for committing frauds. While, some frauds can be minor in nature, others can be quite dangerous. Well, due to the increase in these kind of frauds, there is a need for identity fraud protection.
Well, to provide the identity fraud protection to our customers, we have devised some products and services, with which, we can monitor the credit of our customers, and help you in protecting yourself from such frauds.
We give below some of the pre-requisites, which you should follow, so that you don’t fall a victim of identity frauds:
• Safeguard the online information: With the increasing e-commerce, and online transactions, most of the banking and shopping happen online. So, it would be good to clear the logins and your passwords, after each transaction. And, this should be especially safeguarded when the transactions are done on a public computer. Change the login and password on a monthly basis.
• Make payments through credit cards, instead of using net banking: Credit card transactions are governed under the Federal Law, and they are safer than the net banking services.
• Be aware of the phishing activities: There are various hackers and spams, which mimic the legitimate banks, to obtain the personal information. Before entering the login and password, make sure that you are on the right website, which has the right security controls.
• Monitor the credit card and bank statements: Keep checking your statements for finding anything unusual. If you find anything unusual, you can check up with your bank or credit card companies.
If you are able to exercise some caution at your end, you would be doing yourself a great favour. Take out identity fraud protection services, if you would like more help with your identity protection. We provide the following benefits:
• Our services would be useful for you, if you do a lot of online shopping and net banking.
• Also, if you don’t have enough time for monitoring the information, our services can be quite useful.
• We can provide the best identity fraud protection for you, and it will save you from a lot of headaches, and unnecessary hassles.
Visit our site, and find out other useful information on how you can benefit from our services.
Prepaid Credit Cards
March 6, 2015
Prepaid Credit Cards (Secured Credit Cards):
There are basically two kinds of credit cards available for the people, who have a bad credit. These are the prepaid cards and the secured credit cards. So, if you have a bad credit history, and require a credit card for yourself, you can check out both the cards.
Some Information on Prepaid and Secured Credit Cards
Both these cards are separate and are not to be mixed. While, both these cards require money to be deposited prior to using them, they are quite different from each other in all the other aspects. For getting the secured credit card, one will need to make security deposits against credit limits, so that the card can be approved. This security deposit is kept in the savings account, and will be used when there is a default on payment on the credit card. The purchases that are made with these cards will go against the revolving credit limit. When the credit card balance is paid off, the available credit increases again. The security deposit is there on these cards because of the bad credit history of the borrower.
Prepaid cards work in a different way. These are actually not credit cards, as there is not credit limit. The deposit made on the card goes straight into the account, and when the card is swiped for purchases, the balance is deducted directly. So, when the deposit is spent, one would have to redeposit the money, so that he can start spending again.
The fees on these two cards vary. The fees on the secured card is quite similar to that of credit card, with application and annual fees, late fees, and finance charges. Some of these fees can actually be avoided if the card is used responsibly. The fees on the prepaid cards depend upon the card that you choose. It could have monthly maintenance fees, activation fees, etc. Other than that, fees might have to be paid for reloading the money, and withdrawing the money from ATM.
So, the choice of the card is totally dependent on you. If you wish to improve the credit score, you should go for the secured credit card. These cards can be converted into unsecured cards after the completion of 12 or 18 monthly payments. And, for people, who wish to avoid the banks, can choose to go for the prepaid cards. These are also good for the students and teenagers, who get monthly allowance from the parents.
These cards can be a great way to make your payments and, if they report to the credit bureaus, build your good car credit.
Preventing Credit Fraud
December 27, 2014
Preventing Credit Fraud
Credit card fraud has become quite common, and it happens in various ways. Even though, preventing credit fraud might not always be easy, one can try to create obstacles so that it cannot be misused.
How Does Card Fraud Happen?
Well, it is quite easy, due to the growing use of technology and online transactions. Anybody can hack the net and get hold of the credit card numbers and other account information. In fact, the thieves can also get hold of the discarded credit card statements, and use the information for purchasing online.
So, How Can You Prevent Credit Fraud?
Well, all it takes for preventing credit fraud is to follow some practices in the daily routines, and daily lives:
• Make a note of the account numbers, credit card numbers, expiration dates, and the phone numbers, so that you can report the fraud, when it happens.
• Do not lend the credit card to anybody. And, don’t leave the card, statements or receipts anywhere. Try to shred the statements and receipts, when they are no longer required.
• Do not reveal the account numbers to anybody over the phone.
• Do not stuff the cards in the wallet. Try to keep them separately so that they do not get stolen along with everything else. If you have multiple cards, carry only what is required, and not everything else.
• Keep a close watch on the card, when the card is being swiped in. Also, ensure that you retrieve the card back, soon after the transaction is done.
• Never sign on blank receipts. And, try to save the receipt stubs so that you can compare them with the statement.
• Keep checking your statement online, so that you can reconcile them, more promptly.
• And, if you see any questionable charges, report it to the card issuer immediately.
• Also, if there are any address changes, or travel plans, inform the card issuer.
• Do not write the account number anywhere.
• While using the public computer, try to remove the history so that the account number information does not get saved anywhere.
Well, these were some of the fool proof methods for preventing credit fraud. When you follow these steps, you would be able to remain safe and secured. And, in case your card gets lost or stolen, report it immediately to the card issuer, so that it gets blocked by the issuer, and is not misused further.