3 Reasons Personal Loans are Better Than Credit Cards

Most people don’t think twice when whipping out their credit card to pay for something. What most don’t realize is that there are certain instances when taking out a personal loan is actually a more cost-effective way of paying for something, especially larger purchases.

Here are three of the main ways a personal loan trumps a credit card.

Lower Interest Rates

The main reason a personal loan beats a credit card are the interest rates. Credit cards are notorious for their sky-high interest rates. The current national average APR (annual percentage rate) sits at 15 percent. Unsecured personal loans range between 6 and 35 percent. Bear in mind that unsecured loans are easier to get because they do not need collateral, and therefore, put the lender at greater risk, so rates can sometimes be high. Secured loans which ask for some form of collateral, such as a car or house, generally have lower rates. The rate you will qualify for, whether a secured or unsecured loan, depends on your credit score, income, and overall debt usage. If you have a clean credit record, you could enjoy interest rates of as little as 6 percent, lower than most credit cards.

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Avoiding IRS Scams: What Every Taxpayer Needs to Know

The only two things that are certain in life are death and taxes. Or are they? We think we should actually add a third thing to that list: tax scams.

Since everyone knows that we are all at the discretion of the tax man, there are many unethical people out there who are waiting to take advantage of you. Some will pretend to act on behalf of the IRS and take money from you while others will intercept your communications to the IRS to steal your confidential information and assume your identity.

Some programs and services are available to help you protect yourself against fraudulent activity, such as ADP Compliance Insights for businesses, but educating yourself about the potential scams is one of the best things you can do to avoid becoming a victim:

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5 Household Items to Invest In

by Sean Bryant on April 27, 2016

5 Household Items to Invest In

Owning a house puts a financial strain on your budget. The running costs of a home consist of its everyday functions, including lighting a room, washing your clothes, keeping a pleasant interior temperature and doing routine maintenance. Every household item you use on a regular basis should be one that lasts. Your most-used items should be able to stand up to everyday wear and tear, reduce your cost of living, enhance your lifestyle and be an investment that pays for itself over time. The following four household items are worth investing in because they will help you save money later down the road.

Economical Lighting

LED light bulbs cost quite a bit more than incandescents, but the $8 or so will pay off in the long run. LEDs have a life expectancy of 25,000 hours, whereas incandescents last about 1,200 hours, according to The Simple Dollar. An LED lighting system also lessens your electricity bill because the bulbs only use 10 Watts of electricity, compared with the 60 Watts used by incandescents. Over 23 years, a single incandescent has an operational cost of about $201 and an LED bulb costs $38.

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Housewife in hair curlers on a broken washing machine

Housewife in hair curlers on a broken washing machine

A lot of steps go into buying a home, whether you’re a first-time buyer or an experienced owner. From getting your credit score up to par and shopping around for the best mortgage to getting through the inspection process and obtaining homeowners insurance, the list goes on — not to mention, actually finding the perfect home.

And when you finally do get through it all, you get to relax and kick your feet up, right? You’re covered should, God forbid, anything happen.

Well… not so fast.

Many folks mistakenly think that homeowners insurance covers their all of belongings 100 percent, no questions asked. But that is not the case. Homeowners insurance does not cover large appliances and home systems like the plumbing and HVAC. A home warranty is necessary to cover these things.

Navigating through homeowners insurance versus home warranties can be tricky. So we’ve outlined some points below to help you understand how they differ.

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Real Estate Done Right: The Do's and Don'ts of Showing Property

An open house is how people attempting to sell a home by themselves will go about it at first. It’s easy to give your house some quick updates, plop a sign outside, and wait for business. While you will see success with minimal effort like this sometimes, there are plenty of scenarios where the approach will not serve you well. You’ll need to work with a selling agent, and work on a real strategy. There are a few things that you need to know when you begin to sell.

Be ready for private showings

In most neighborhoods, the no-strings-attached nature of open houses usually attracts a high level of interest. Not many people who visit open houses tend to be serious buyers, however. When you are motivated to sell, it can be a good idea to tell your agent that you’re ready for private showings.

Usually, buyers who request private showings have attended the open house, like what they see, and want a closer look without the distracting crowd. Certainly, a private showing can be a hassle to the seller, especially if they live in the home that they are trying to sell. It can take a lot of work to maintain the staged look for just one person visiting. Nevertheless, these are serious buyers, and these showing lead to sales. You need to talk to your agent about willingness for private showings.

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Three Reasons First-Time Homebuyers Can’t Afford Not To Buy Now

April 20, 2016
Three Reasons First-Time Homebuyers Can

Nearly a decade removed from the onset of the Great Recession, the housing market appears to have finally gained the traction it so desperately needed to get back on track.  Outside of a few outliers, nearly every indicator is in a better position today than it was just a few short years ago.  And for […]

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How to Compare Renters Insurance Quotes in the 21st Century

April 11, 2016
How to Compare Renters Insurance Quotes in the 21st Century

Renters insurance is an invaluable security blanket to have when it comes to protecting your assets. Most people think that the only assets that they should be protecting are their savings and stock investments, but what they fail to realize is that their physical possessions property at home are just as valuable, if not more […]

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