Credit Resources Personal Finance

The Basics of Debt Consolidation

It’s very easy today to accumulate debt, which is why you must know the basics of debt consolidation.

The basic idea behind debt consolidation is that a consumer takes out one loan in order to pay off other loans.

The advantage of consolidating debt is the ease of dealing with one loan instead of several.

A word of caution is to steer clear of debt consolidation companies.

These are the ones that promise debt help despite your poor credit.

They normally charge application and handling fees, and will oftentimes charge very high-interest rates.

Credit cards often charge high rates of interest, which makes them a popular candidate for debt consolidation.

In this case, the process is relatively simple.

If you have several credit cards with high rates of interest, you can simply transfer their balances to a single credit card with a lower interest rate.

Most times you will find credit cards offering a low introductory APR and introductory rate such as 0% for the first six months.

If you have accumulated credit-card debt because you are constantly spending, then a consolidation loan might be your best option.

If you are a homeowner then you should look into a home equity loan or line.

In this case, your home will act as collateral.

Provided your loan is not more than the value of your home, the interest on the loan may be tax-deductible.

Please consult with a tax professional.

Remember, if you default on this loan, it is very likely that you could lose your home.

Secured Or Unsecured Loan?

In other cases, you could apply for a secured or unsecured loan at your local bank or credit union.

The difference between the two is that a secured loan requires you to put up collateral, while an unsecured loan does not require any collateral.

Unsecured loans however, are much more difficult to obtain.

So remember that the basics of debt consolidation is to get all your loans into one single loan payment, thus creating more cash-flow for you.

Need more information? Check out our credit resources category.

Credit Resources Identity Theft Personal Finance

Simple Tips To Prevent Identity Theft

Identity theft is a growing concern for many people. Here are simple tips to prevent identity theft.

If you have seen Dateline, identity theft is a scary subject and it’s the cause of emotional pain and financial problems.

Identity theft occurs in many ways such as when someone uses your social security number, checks, credit cards, driver’s license, and much more.

However, there are simple tips to prevent identity theft.

Financial documents are the reason for the majority of identity theft cases.

From bank statements to medical bills, you get mail constantly that contains your personal information.

The main reason why there is a rise in identity theft cases is that we now conduct so many transactions online, thereby exposing us to hackers.

One sure way to protect yourself is by shredding all unwanted documents.

This can be a daunting task to do by hand so invest in an electric shredder.

The next best thing is to subscribe to an identity theft service and one such service is provided by ReliaShield.

ReliaShield provides complete coverage for you and your family and the best part is, all family plans include FREE COVERAGE FOR KIDS.

Never carry your checkbook, birth certificate, or social security card in your wallet or purse.

In the event that you lose your wallet or purse you don’t end up becoming another identity theft victim.

Another great tip is to never leave valuable belongings in your car.

Make sure you lock these items in your trunk and out of sight.

Finally, to add an extra layer of protection, you should place a freeze on your credit files from all 3 credit bureaus.

Credit Resources.

Business Wealth Creation

Why You Need A Home Based Business

There is no disputing the fact why you need a home based business today.

The current global economic climate makes it very vital why you need a home based business.

The most risky position to be in is relying on one source of income such as a Job. Jobs are no longer secure today and employers have no loyalty to employees anymore.

The best thing you can do for yourself is to start a home-based business and here are some reasons why you should.

Tax Advantages

Did you know that the USA tax codes are designed to reward entrepreneurs?

This is a main advantage why you need a home based business.

Having a home based business allows you to legally take business deductions of which there are over 435 and counting.

The wealthy understand this and that is why they all have multiple businesses.

I am not a tax professional, therefore, please consult with your tax professional for more advise with regards how you can minimize your tax liabilities.

Multiple Sources of Income

This is another reason why you need a home based business.

Having multiple sources of income ensures that you are able to withstand any economic situations.

As you know, the economy goes through cycles and if you have only one source of income, then you are seriously disadvantaged when there are down turns in the economy.

Wealth Creation

Your main goal should be how to create, grow and maintain wealth.

Wealth is created by investing in income producing assets such as real estate, stocks, bonds, gold, silver, businesses, just to mention a few.

By investing in assets that appreciate over time and also using leverage, you can exponentially increase your wealth.

Create Your Ideal Lifestyle

The current trend right now is everyone wants to be an entrepreneur.

Unfortunately, most people go about this the wrong way.

Starting a business requires a great deal of commitment and resources.

Everyone’s situation is unique and the best way is to maintain your 9 to 5 job until the income from your home-based business replaces the income from your 9 to 5 job.

You will have the freedom to do whatever you choose to such as, traveling, live where ever you choose, have the resources to donate to charities and provide a better life for your family.

Creating and starting an online business.

Multi-Level Marketing Home Based Business.

Advanced Wealth Planning Strategies.

Benefits Of Being An Affiliate Marketer.

10 Legit Ways of Making Money Online.

Business Lifestyle Personal Finance Real Estate Investing Wealth Creation

Why The Rich Get Richer

It’s no secret “why the rich get richer” and the middle-class and others are struggling.

If you aspire to be rich, then here are 5 simple reasons why the rich get richer.

Pay Yourself First

This is the first principle that the rich abide by, they pay themselves first before anyone else.

We all work hard for our money but yet choose to pay others first.

The key to getting ahead and being fiscally fit is by building a massive capital reserve for emergencies, investments and fun.

The rich understand this basic concept and this is why the rich get richer.

By paying yourself first, you set aside resources for savings and investments.

These investments go to work for you generating more income and cash-flow.

The rich value their time and always look for ways to maximize their efforts.

We all have 24 hrs in a day and as such, we can not work the whole 24 hrs.

The rich look for opportunities to generate income even while they are sleeping.

The rich always have their money working for them and not them working for money.

By paying yourself first, you set yourself up to capitalize on opportunities.

Remember do what the rich do and pay yourself first.

Invest Their Money

The rich get richer by investing their money.

Investing your money is the key to growing your income, cash-flow, and networth.

The only way to be rich and wealthy is to invest your money in income producing assets.

Examples of such assets are real estate, stock market, businesses, gold, silver, and other precious metals just to mention a few.

If you want to be rich and wealthy, you must invest your money.

Build Businesses

The rich build businesses that generate multiple income streams.

The name of the game is cash-flow and the rich understand this and that is why they are constantly exploring opportunities to create more cash-flow.

As stated earlier, the rich and wealthy value their time while the middle-class and others exchange their time for money.

Having only one stream of income is the most risky form of existence.

As of my writing, we are currently experiencing the biggest health pandemic.

The effect of this could be felt globally with businesses shutting down or going bankrupt and employees laid off etc.

Conditions are so bad that the USA government had to bailout businesses and send stimulus checks to it’s citizens.

This is why you must not rely on one source of income.

So look into starting your own business or businesses because as a business owner, you get to enjoy all the tax benefits of owning a business.

Long-Term Mindset

This is another reason why the rich get richer.

They have a long-term mindset and are always planning for the future.

Every move they make is well calculated and they are never afraid to take risks.

The middle-class and others are always seeking instant gratification and never have long-term planning.

Yes, it is ok to indulge, however, the rich only indulge using the cash-flow from their investments.

The rest of the population indulges using their hard earned money.

To get ahead financially, you must have long term plans and only acquire income-producing assets and use these incomes to fund your lifestyle.

Build Networth

The rich get richer by focusing on building their networth.

The rich never focus solely on income but rather by growing their networth.

The only way to grow your net-worth is by investing in income producing assets which grow in value over time.

The key to building your net-worth is by having a personal financial statement and reviewing it on a consistent basis.

The financial statement has 4 sections:

  • Income
  • Expense
  • Assets
  • Liabilities


This section lists your income sources, paycheck, dividends, business, real estate, etc.


List all your expenses, car payments, utilities, mortgage, students loans, etc.


This shows all your assets, remember assets produce income, therefore your house is not an asset unless it generates monthly income for you.


The liabilities section list what you owe such as, your mortgage loan, car loan, student loan, consumer loan, credit card debt etc.

Your net worth is calculated by subtracting the total of your liabilities from your total assets.

This is why the rich get richer.

Lifestyle Travel

Why Celebrities Love Dubai

In this blog post, you will see why celebrities love Dubai.

You might ask yourself, why do celebrities love Dubai?

Here’s Why Celebrities Love Dubai

The emerging trade, commerce, and tourism activities in Dubai are fundamentally changing the world perception.

British footballer David Beckham and the Spice Girl Victoria have been seen walking out of a famous five-star hotel.

From top movie stars to sports celebrities and from the multi-billion empire holders to the average vacationers.

This goes to show how the world’s view of the Middle East has transformed.

The William sisters – Serena and Venus and Andre Agassi have played in Dubai.

There was a friendly match between Andre Agassi and Roger Federer on the helipad of Burj Al Arab hotel.

Tennis balls were seen falling into the Arabian sea as the two players proceeded with some of their favorite strokes.

Tiger Woods has been seen using the same helipad for his golf practice.

Woods was in Dubai to take part in the Dubai Desert Classic and couldn’t resist the temptation of practicing on such a breathtaking height.

Celebrity spotting has become one of the new trends in Dubai’s social life.

The competition between hotel owners trying to appeal to celebrities and high net worth individuals is getting intense.

Hotel owners are building more luxurious hotels for this clientele.

This means exclusively targeting business travelers and the multimillionaires from across the globe.

Lebanon and Sharm El-Sheikh in Egypt have tried to raise the stakes, however, Dubai is way ahead of the game.

By opening up its borders, Dubai has become a top vacation destination.

There is a fundamental change in attitude towards the Middle East.

By allowing many foreigners on its soil, Dubai has made its friendly intentions known.

Expatriates will continue to play a crucial role in the local economy.

All of the above factors are why celebrities love Dubai.

Visit for amazing travel deals.

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Credit Resources Personal Finance Personal Loans

Ways to Eliminate Debt with a Personal Loan

There are many ways to eliminate debt with a personal loan.

The most popular use for such loans is to eliminate debt. A personal loan offers a great alternative for individuals who are struggling to make monthly payments on too many accounts.

The idea is to pay off debt with a personal loan, thereby, only have one monthly payment to make.

The monthly payment is often less than you were paying before on all your outstanding debts.

Having only one loan payment can also help improve your credit score.

This is especially true if the other debt was mainly credit card debt.

So here are the ways to eliminate debt with a personal loan.

The first step is to create a spreadsheet listing all your outstanding debt.

Make columns for information including the creditor, the balance due, and the interest rate.

In the last column calculate the total amount you will pay on that debt making your current payments.

There are great calculators to get this information online. These calculators are free and easy to use.

To do this, simply type in the balance, interest rate, and monthly payment.

In many cases, you will be shocked to see how much that debt is going to end up costing you.

Once you have completed that task, add up the totals in each column.

You will need to know the balance due to pay off the debt as this is the amount you will need your personal loan to be for.

You also want to remember that overall cost total.

It is very important that before you agree to the terms of a personal loan that you know the overall cost of the loan.

If the cost is fairly close or more, then don’t take out the personal loan.

It will do more damage to your current situation than good. Find out what the monthly payment will be as well.

This is a good time to take a realistic look at the reason why you have debt that you are having a hard time meeting the monthly payments for.

It may be due to a change in circumstances that you had no control over.

However, if the reason is that you have poor spending habits then you need to address this issue before taking out a personal loan.

Nothing is more upsetting than getting a personal loan to cover your debt, then realizing six months down the road that you have run up a large amount of debt again.

Your situation will be much grimmer now because in addition to paying off that debt you also have a personal loan payment to cover each month.

Enrolling in a debt management course or budgeting class can help you identify areas where you are not using your income wisely.

There are also many excellent online resources to assist you.

A good exercise is to have every family member write down all the money they spend during the week.

You will be amazed to see the pattern of things that are draining your wallet.

This is a great way to get your family involved in the budgeting process.

Personal loans can be a great way to eliminate other types of debt if used correctly.

It is your responsibility to do your due diligence.

If you are looking for a personal loan option, then you need to check out provides an easy and convenient way for consumers to be connected with a personal loan through a network of lenders and lending partners.

Through, you can get needed loan funds quickly, in as little as just one business day.

You don’t have to pay back these funds quickly, however, as the repayment time frame ranges from 90 days to 72 months depending on the terms of your loan.

For shorter-terms loans offered, such as installment loans, the repayment time frame may be less than six months.

Types of personal loans.

The Basics of Debt Consolidation.

7 Tips To Increase Your Credit Scores.

Personal Finance Personal Loans

Types of Personal Loans

There are different types of personal loans available today.

Personal loans are easy to obtain for most individuals.

Even those individuals with poor credit or who haven’t established a credit rating can generally get one.

You will need to verify income, employment, and residence when you apply.

Personal loans are a fast and convenient way to get the money you need for a variety of needs.

The funds can be used for essentials, travel, education, or to pay other loans.

There are two types of personal loans, secured and unsecured.

Secured loans come with a lower interest rate than unsecured loans.

However to get that lower interest rate you will have to offer some collateral to the lender in the event you are not able to repay your loan.

In many cases, the one you will choose will depend on what you qualify for.

Unsecured loans are generally available to those who have a good or outstanding credit rating and a steady income.

Secured loans are usually the only option for those with poor credit, no credit history, and unsteady work history.

Secured personal loans are a great way to establish your credit.

The payments are often low, but your interest may be off the charts, therefore only borrow what you need.

Never allow a high-pressure lender to talk you into taking more than you really need.

If this personal loan is your opportunity to establish your credit history, then don’t blow it. Use it wisely.

Make all your monthly payments on time. If possible pay the loan off sooner to show you are responsible.

Doing so will make the process much easier the next time you need to apply for a loan.

Secured loans can also be a second chance for those with poor credit to redeem themselves.

It is important that you don’t miss any payments with a secured loan.

If you find you can’t make a payment for some reason, contact the lender immediately to work out a solution.

This is very important if you have lost your source of income.

Most lenders will try to resolve the issue before reporting the personal loan as being in default.

Since you have secured the loan with some type of asset you own, you are at risk of losing that item if you can’t repay the loan.

It is in your best interest to find a solution to stay on track with the payments on a secured personal loan.

Unsecured personal loans have a higher interest rate, but you will have the peace of mind that nothing you own is tied to that loan if you default on it.

However, it is still very important for you to take responsibility for the debt and pay it as outlined in your loan terms.

The same rules apply with a secured loan.

Only borrow what you need and pay it back early to keep your credit score high and reduce the amount of interest you will pay on the loan.

Ways to eliminate debt with a personal loan.

The Basics of Debt Consolidation.

Credit Resources Lifestyle Personal Finance

Purchasing A New Recreational Vehicle

Purchasing a new recreational vehicle is a big commitment.

You certainly are not going to take the first deal you’re offered.

It is very important that you are well informed when you’re thinking about purchasing a new recreational vehicle.

This is some serious cash you’re going to be spending and you want to get the best possible deal.

Finding An RV Dealer

Recreational Vehicle dealers make large profits on the sale of each vehicle.

There are many sites online that can be a help to you with finding the actual MSRP on a new recreational vehicle. A great website resource is

Recreational Vehicle dealers, like car dealers, buy their vehicles wholesale due to the number they buy, they have a fairly wide profit margin generally 15% to 35%.

The dealer price you see on the vehicle isn’t necessarily what he has paid for it with incentives he receives from the manufacturer.

Make sure that you visit at least three recreational vehicle dealers with the same or similar vehicle.

When you’re spending hundreds of thousands of dollars on a motor home you want to make sure you are getting the best deal.

Deals do differ from region to region and from dealer to dealer.

New & Used RVs for Sale Online -

Don’t become attached to any recreational vehicle. Remember, this is a new vehicle, and if you bypass this one the factory can always build another exactly like it.

Make sure that you do your research into the dealers after-sales service.

Many dealers are your best friends during the deal, but then lose interest after the sale.

You want to check with friends and family that own recreational vehicles and perhaps with the Better Business Bureau before making your purchase.

Remember to visit for everything you need to know about purchasing a new recreational vehicle.

Need a Personal Loan? Check out “Types of Personal Loans”.

New & Used RVs for Sale Online -

Creating And Starting An Online Business

There are three ways to creating and starting an online business.

These three main categories are: selling products or services to retail customers, selling on eBay or Amazon, and business-to-business.

When you are looking at creating and starting an online business, you must decide on which of these three categories.

If you choose to sell to retail customers, you will have to find unique products and services that differentiate you from the competition.

To sell on eBay or Amazon, you have to find a wholesale distributor of products available at a discount.

If you are already involved in a business-to-business forum, then this will be an easy transition for you.

Most people decide to start an online business but have no idea where to begin.

By focusing your efforts on one of these three categories, you’ll know in which direction to start.

With eBay or Amazon, look for a wholesale distributor where you can purchase products at a great discount.

To find some wholesale distributors, visit

If you decide to sell products or services to retail customers, find a niche that is underserved by your competitors.

Finally, if you decide you want to do business to business selling, figure out your value proposition for your target market.

Business-to-business selling is similar to the retail strategy in that you want to focus on a niche and dominate that niche.

Creating and starting an online business can be both a challenging and rewarding experience.

Read my other post on “MLM Home Based Businesses”.

Looking for more ideas? Then check out “Creating a lifestyle business”.

“Best Online Business to Start with No Money”.

How To Start Forex Trading.

Credit Resources Personal Finance

Bad Credit Car Loans

Bad credit car loans are for people who have damaged credit due to late or missed payments. You can use bad credit car loans to buy used and new vehicles

Getting a bad credit car loan will help you re-establish your credit.

Bad credit auto loans are short-term loans, and their repayment period extends from 48 to 72 months.

The first step in the process of applying for a bad credit auto loan is to get your FICO score.

FICO Advanced — Get 3-Bureau Credit Reports and FICO Scores

You can get your credit score from Equifax, Trans Union, and Experian.

Having a credit score below 650 is considered bad credit.

The next step is to search for a legitimate lender. The Internet is a great resource for finding lenders who specialize in bad credit auto loans.

Financial institutions such as banks, credit unions, dealers, and brokers extend bad credit auto loans.

All of them employ a risk-based valuing approach in offering bad credit auto loans.

Most lenders may require that you get a co-signer.

If borrowers fail to repay the loan, the co-signer is responsibleto pay back the loan.

In order to secure bad credit loans through a dealership, borrowers usually pay premium prices.

The final step is to compare and evaluate interest rates and fees charged by various lenders.

Getting auto loan quotes from multiple lenders will help you select the most competitive interest rate.

Also check out “Personal loans for bad credit”.

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