What would be the best time to buy a home?

Spring is the best time if you are planning to buy a new home. With tax return in hand many home buyers look for real estate investment for substantial tax saving. This would help to transform a reasonable investment into superior one.

Tips to save money while buying a house:

1. Check your credit score:


Houses are easily available but the most difficult part while buying a house is to look for finance. If you have a good credit score it is not difficult to fetch a loan. The home loans would have higher interest rate or even refutation of credit, if you have a poor credit score below 660. Before buying a home make sure that you check your credit score. If you find your credit score to be poor then avoid applying for a home loan until you repair you it. You can rebuild your credit score by paying your bills on time and paying off your existing debts.

2. Apply for mortgage loan when the home price is low:


Due to economic down turn the price of home is reducing rapidly. You can look for an excellent bargain if you are a first time home buyer as the prices has dropped at an alarming annual rate of 18.7% last year.

3. Look for local incentives:


There are few states for instance Arkansas that offers a homestead tax credit. A home buyer can save thousands of dollars if he files an application with the country for his house. He would be able to get an annual deduction up to $350 from his property taxes.Make sure that you have all the documents of the home as the tax credit is transferable; it remains with the property and not with the old property holder. If you buy a house the homestead exemption law is applied to the new owner if you present necessary paper work.

4. Avoid unpleasant surprises after buying the house:


Before you buy a house make sure that you hire a qualified licensed inspector to inspect the house. You might require few dollars to hire an inspector but it would save your thousand dollars if you are prevented from buying a damaged house.

5. Make a choice between points and rate:


When choosing a mortgage you can select between paying additional point or lower your interest rate. Additional point is a portion of the interest that you pay at the closing of the mortgage loan by replacing the lower interest rate. If you are planning to stay in a house for 4 to 5 years take the benefit of the points. As the lower interest rate would save some bucks in the long run.

If you follow these tips and tricks then you would succeed in saving money while buying a house.

Do you have a shopping and spending problem?

1. You are constantly trying to justify what you have spent on the most recent spending sprees with new excuses..

2. You hide things such as bank statements, credit card statements, purchase receipts.

3. You have clothes in our cupboard that still have prices tags on them. Some are even in the shopping bag they came in.

4. You are always redecorating your house in order to justify shopping sprees and spending money.

5. You were always an honest person, until someone started to get curious about you spending money, and you had to lie.

6. You remove price tags and say you got the item on sale.

7. You see things when you are shopping, then decide you desperately need it? There was no plan to spend money on something you actually need.

8. You juggle your families finances to hide the fact that you have spent so much money shopping.

9. You buy things for other people and then convince them that they need it.

10. You are the happiest when you are shopping and spending money.

Here’s some ideas to help you stop spending money.

1. Stop the secrets. Tell people you have a problem and they will help you.

2. Find out why you feel the need to go spending money even though you cannot afford it.

3. Get your spouse or a friend to do your shopping for you. Don’t go to the shops until you can control yourself.

4. Cut up your credit cards. Do not carry cash in your pockets.

5. Write a list of all your purchases so you can see clearly what you have spent.

6. Stop and think about it. Do you want to end up in debt up to your ears, risking everything you have.

7. Get some self control. Do not let yourself get into financial trouble.

Having $100 in your pocket always will make you feel better than just having spent it on something you really didn’t want? Curve your shopping habits and stop spending money. If you can’t possibly stop spending money and going shopping then you should probably seek professional help.

How To Apply For The Virgin Credit Card

The new virgin credit card has yet to be relaunched in Australia, however after a partnership between Virgin Money and Citibank Australia the new Virgin card is set to be released in early 2010. Therefore the first steps you will need to make any application process is to register for relaunched updates so you can be sure you know when the card has become available, and you can be one of the first in Australia to apply. When it comes time to fill in your Virgin credit card application, you will need to:

• Choose your application method. You can apply online or over the phone or you can request Virgin to post a form to you to fill out when you have the time. Applying online or over the phone takes just 10 minutes and you will be contacted by Virgin in 1 to 2 weeks with the progress of your application. You may also need to send in paperwork to verify your identity and that of your additional cardholder if you have chosen to have one.

• Provide your financial details. This means you will need to include your income, your existing credit card limits and balances, and your expenses. This will help Virgin determine whether you can afford a credit card, and help them decide on a limit which best suits your needs.

• Identification details. This is usually your driver’s licence information if you have one. If you don’t you’ll need to provide another form of identification, either a proof of age card passport or other bankcards or bills.

• Additional cardholder details. If you are planning to add an additional cardholder to your Virgin credit card, after all it is free, you will need the personal details and contact information of that person too.

• Balance transfer details. If you are taking advantage of the 0% interest balance transfer offer for six months on the new Virgin credit card you will need to provide the card number and the amount you want to transfer from your existing credit card or cards.

• You will need to agree to the fine print. As with any new credit card application you need to agree to the fine print of the fees and usage relating to your new Virgin credit card. When you apply you are consenting that Virgin can share your credit information with a credit reporting agency, for the full terms and conditions get to know all of the Virgin fine print in anticipation for your application here: http://web.archive.org/web/20070906054142/virginmoney.com.au/credit_card/what_you_get/applying_for_a_new_card/small_print/.

Are You Eligible To Apply For The Virgin Credit Card?

Most credit cards will have minimum income and expense requirements, as well as age limits and other identification parameters which you need to meet to be eligible to apply. If you are interested in applying for the Virgin credit card, make sure you understand the following conditions:

• You may not be eligible if you rent or board.
• You may not be eligible if you own a home and have been living in that property for less than two years you may not be eligible.
• You may not be eligible if you earn less than $40,000 a year after tax.
• You may not be eligible if you can’t prove your income using payslips or an income tax assessment.
• You may not be eligible if you have been in your current job for less than a year.
• Must be over 18 years old.
• Must be a permanent Australian resident.
• Must have a good credit history.

Before you go off to collect all of the information you need for your Virgin credit card application, make sure you register for the Virgin credit card relaunch updates here, so you can be one of the first Australians to enjoy the next generation of Virgin Money services.

Transferring your credit card balance to a low introductory balance transfer card can help you to reduce the amount of interest you’re paying on your outstanding credit card debts. While this sounds like a great idea to most people struggling to reduce debt, there are some things to think about before you leap.

Long Term or Short Term

Most lenders offering balance transfer deals offer cheap interest rates for either short term savings or longer term savings, depending on how much debt you need to repay.

Most short term offers can be as low as 0%, but they might only last for 6 months. When the interest free period ends, the interest rate usually reverts to the higher interest rate, most often the same rate as is charged on purchases made with your credit card.

The long term balance transfer rates tend to offer a slightly higher interest rate, but it’s still far lower than the rate charged on purchases. This can allow you to benefit from a reduced rate for however long it takes you to repay the entire balance amount.

Shop Around

Transferring your credit card balance can save you money, but if you don’t spend some time researching the available offers and checking the various fees that may be charged, you could be spending more than you need to.

Always take a little time to compare balance transfer cards and understand how they may affect your own financial situation properly before you accept any deal.

Double Check the Fees

Transferring your credit card balance to an account that charges a really low interest rate can be helpful, but if you’re not careful you could find your lender charges high annual fees, balance transfer fees or even Reward program fees.

You should also take a little time to check how much interest you’ll be charged once the cheap interest rate offer ends. If you haven’t repaid your entire balance amount by the time the low rate reverts to a standard rate, you could find that you’re paying high interest on the amounts you owe, making it harder to get ahead.

Eight tips to help you avoid credit card fraud

1. Always check your statements

As soon as you get your credit card statement in the mail look for any regular or unusual transactions. You should also make a habit of checking your receipts against your monthly statements to make sure that everything is in order.

2. Watch out for phishing

Telephone calls or e-mails that ask for your credit card information or any of your personal details are referred to as phishing scams. You will be led to fraudulent websites that appear authentic, but they are really set up to steal your information.

3. Make sure your card is signed

As soon as you receive any new credit card you should sign it right away to avoid being a victim of cyber crime.

4. Keep your PIN protected

Never keep a written record of your PIN number close to your credit card. If you absolutely have to write down your PIN number, make sure it is hidden in a safe place away from your card.

5. Use only websites that are secure

Before making a purchase from any site make sure that credit card security measures are in place before entering your card details. Most websites will have an icon or logo to show that they are secure, and you can also check on their security page to find out how they keep your information secure.

6. Destroy your documents properly

If you are sent any detailed information about your credit card application make sure that you shred it before disposing of it. You don’t need a professional shredder if you don’t have one, just make sure you rip it up into pieces before throwing it away.

7. Don’t carry all of your cards at the same time

You should only be carrying around the cards that you use regularly. If you happen to have your wallet stolen then it is nice to know that you have lost only one or two cards instead of all of your cards at the same time.

8. Watch your card closely

Whenever you have to use your card, keep an eye on it. Some credit card fraud thieves will use an electronic skimming device that is hidden underneath the counter. Of course, always make sure that your card is returned to you and that you put it away properly.

Follow these eight helpful tips to make sure that you do not become a victim of credit card fraud. It is quite a hassle to get everything sorted out, and you may end up losing some money in the process.

This article was written by Timothy Ng who is a regular personal finance blogger and part of the team at CreditCardComparison.com.au a 100% free Australian credit card comparison and application service.

Debit Card have rapidly become a major form of payment all over the world. These cards offer the same convenience as credit cards but with none of the interest fees. That is great news for consumers, but small business owners have often felt abused by the excessive charges they are forced to pay to accept these cards. Small businesses are especially affected by added fees because they are often unable to pass those costs on to their customers so they lose part of their profits.

The swipe fee battle

Swipe fees are usually bundled into the cost of buying products or services. But, when the fees became so excessive that they were significantly higher than the actual processing costs business owners began to complain. They could not reasonably pass on the total cost nor could they stop accepting debit cards without risk of losing business. In fact, the National Association of Convenience Stores lists swipe fees as their second biggest expense. The only thing that cost them more was salaries. With numbers like that it is easy to see why many business owners hoped for a way out of these costs.

The Durbin Amendment, called such because it was introduced by United States Senate Majority Leader Dick Durbin called to limit these charges. He calls the current rate of swipe fees outrageous and aims to stop Visa and MasterCard from using what he called anti competitive practises.

If they were stopped, he said small businesses would be able to use a common sense system that offered customers discounts. This he said allows customers to keep more of their money and small businesses to stop being abused by the credit card company giants.

Revenue for card lenders

As you would expect, swipe fees are a major revenue stream for the credit card companies and they are not willing to simply let them go without a fight. They see this as a major loss in their battle to protect profits but plan to continue fighting. The concern is that by limiting interchange fees on debit cards the door could be opened to limit those charged on credit cards too. If that were to happen credit card companies would surely look for other ways to profit. While almost everyone would like for credit cards to be fee free, the card companies are in business to make money and somehow they will do just that.

Alban is a personal finance writer. He offers tips on how to find the best home loans online

People cringe at the thought of buying food that is packaged with a generic brand such as Black and gold. They have this predetermined idea that the food in these packets is somehow sub-standard and is uncool to be seen buying. Even though it is so much cheaper than the regular branded foods, it is still avoided like the plague, unless of course you really are can’t afford anything else.

Just to have a bit of fun I invited some rather snobby friends to dinner, cooked 90% of the meal with no mane goods, and then watched them eat it. They liked it.

Here they were raving about how nice the meal was and one guest even asked for the recipe. When I told them that it was all no-name food they would not believe me. Unfortunately I was not going to get the packaging out the the rubbish bin to prove my point. Their reaction really shocked me because it was like they had never had no-name food. I hate to see them actually end up poor one day and have to eat this stuff.

Anyway, as far as experiments go, it was a success. I really never had a problem with using no-name foods before, and this just reinforced my views.

Reason why people do not buy Black and Gold or No-name food

1. People might see them buying it and think they are poor Well that’s all about their personal image. If they care what other people think of them, then that is their problem. Rich people did not get rich by wasting money.
2. They think the food is of substandard quality It’s like anything you buy. There are good things and bad things in every product range.
3. It is too cheap Sometimes people think that you get what you pay for. But I also know that if you shop around you can always save money.
4. It might be imported It may well be imported but how do you know the brand name items are not also imported. The companies have sneaky techniques when labelling the products origin.

My children absolutely love two minute noodles in a cup which cost anywhere from $1.00 up to 1.50. This doesn’t sound like much, however when you buy a bulk pack of no-name two minute noodles they are around $1.40 for 6 times as much food, minus the fancy cups. There is an easy saving of $5.00 just on two minute noodles. For the basic ingredients of cooking, you cannot go wrong with the cheaper no-name brands. For example, baking a cake needs flour, eggs, sugar, and milk. As far as I am concerned these ingredients are all the same. Milk, cream, and cheese all come from a cow, and the taste is irrelevant when using these ingredients for cooking.

Everyone at one time or another will find something they like and will buy in the no-name range. Here are some of my ideas on what to buy or what not to buy.

Things you shouldn’t buy in the no-name product range

1. Easter Eggs or boxed chocolates The no-name or cheaper chocolates or Easter eggs taste like sugar and sometimes have granules in them. For the chocolate lovers you could never have an un-branded chocolate in your mouth.
2. Toothpaste For some reason they always taste funny and leave a chalky film on your teeth. I consider my teeth to be very important and therefore will not compromise on toothpaste.
3. Shampoo and Conditioner Correct me if I am wrong, however the no-name shampoos and conditioners do not do anything! Maybe if you are bald they might work for you. 
4. Baked beans and Spaghetti All the no-name branded baked beans and spaghetti I have had was filled with a lot of sauce. Once you drain this out you might be left with half a can of the actual food.
5. Some biscuits Some biscuits taste like cardboard and others are fine. It’s trial an error for the biscuit section. I usually buy crackers that will be used with dip but will not buy fake tim tams covered with fake chocolate.

Items you should buy in the no-name product range

1. Noodles Surely a noodle is a noodle. Do I need to say more? Save your money and buy the cheaper noodles because they will all end up the same way.
2. Rice I have tried both branded and no-name rice and have find the cheaper one to turn out just the same. If you overcook the rice it will turn to mush anyway.
3. Toilet Paper This is something we are going to flush down the toilet. Don’t be too fussy about what brand you get. Add up your savings when you buy a cheap brand.. It is amazing..
4. Medicines and tablets Now days when you get a prescription the chemist or pharmacy assistant may ask if you would like to try a generic brand of medicine. I have done this a few times as most of the time they contain identical ingredients and do the same job. You can save between 5 and $10 sometimes.
5. Flours, sugar, Salt, pepper These items are usually used as an ingredient in cooking. Who cares what brand they are. If you are a bad cook anyway, the food will still taste bad.
6. Bread I don’t know about the quality of the individual store brands, however there is no problem using this bread for making toast. I am a little bit fussier with a fresh salad sandwich, it has to nice bread for that.
7. Milk, cream, and cheese Any of these dairy products are great to buy, especially if used in cooking. However, if you wanted cheese for a platter you may need to buy a more ma 

ture cheese, which will cost more.

Generally I go for the cheaper brands that have proved to be up to the same standard of the branded items. I also try to buy local products if possible. However in the end it is a personal choice, and I know that you can make drastic savings on your grocery bill by using even a few no-name food items.

Have you ever stopped and thought about all of these needless possessions and conjured up a genuine reason why you have them? My theory is if you associate the word need with an item, it justifies the copious amount of money you just spent on it. I am constantly reminded about my spending’s and possessions as my mother was born in 1934 when these items were not available. She always says “We never had that when I was young. And we survived.” It would be great to be able to go in the back yard and gather your vegies, kill Betsy the chook, and cook dinner. Not me though. The very thought of killing something to eat makes me cringe with horror. I couldn’t eat that, but will happily buy one from the local butcher. And I do not want to know the details of how he got it to look that way. 

Mums generation learnt to be careful with money, whereas my generation throws it away. Some of my nephews and nieces are travelling down the fast lane quicker than I ever did. They are in the under 30 bracket, but have the Flat screen LCD TV, the flash car, and the fancy mobile phone. Sometimes I wonder if they are keeping up with the Joneses or is it just in their blood. They have been bought up with having everything and now its turned into a necessity. Can they even live without a gadget in their pocket or at least in close range. What happened to working your way up to all of this. 

Keeping up with the Joneses isn’t always as easy as it used to be. Everyone already has everything. Now its just a matter of how big or fast yours goes. My simple word of advice, and I am sure my mother would agree, is to hold onto your pennies because you may need them for that rainy day. Forget about the Joneses, and trying to keep up with them, because they are probably in debt up to their ears…

Think about things before you buy them. Ask yourself a few questions first. Why am I buying this product? Do I need it and why? Can I make do without it? Learn to distinguish between your needs and wants and do not buy something because your neighbour, Mr Jones has it. Even though you may be jealous about the new 30ft swimming pool or the mini home cinema, remember that these posessions will not bring you happiness. 

Comic By Gary Varvel
From the Cartoonist Group.

Having no money at all:

Money could buy you happiness if you won lotto just before you were about to declare bankruptcy. If you have bills to pay then money to pay them is going to put a smile on your face. That is true in anyone’s language. But what about the people that have nothing as in possessions and worldly goods but have all they need. If you do not need money to survive, then you do not need it to make you happy in life. If you need food to survive then food will make you happy. That is enough.

Having loads of money:

People with loads of money usually end up not appreciating what they have in life…the flowers, their family and friends. The small things are not important and they miss the essence of life. This is not always true of course. We look at rich people and wonder why they are not happy? What is wrong with them? The ones that have money and are happy, we are seriously jealous of.

Enough money does buy happiness:

This is my theory. If you need $20 a week for your expenses and you can easily earn that, being happy that you are getting through life can be enough for you. Even people that need $900 a week to pay bills and household expenses can be happy if they can handle that. Its when you can’t get enough of what you need. That’s when your life becomes stressful. If you need money to buy food then you will be happy to get money to buy food.

The money you HAD doesn’t buy happiness, its the money you HAVE right now that can make you happy. It is depressing when you have wasted your money and it is a great ahcievement when you have saved it.

How do we get to the stage where we are content with the money we have?

A survey held by the Global Property Guide shows that 19 out of 36 countries have seen price increases in their property sector during the first quarter of 2010. Many of the countries who previously showed some of the biggest declines have recorded strong growth.

The Global Property Guide report uses price changes after inflation for their statistics, making them more realistic in view of the situation. There was a clear message that the global housing bust was over. Whether this is a clear-cut and true is yet another story.

Surprise in the US market

It seems that not all countries are recording solid growth. The US housing market – which was one of the hardest hit – is still showing declining figures for this year’s first quarter. Year-to-year saw a 0.23% drop. However, despite this dose of reality things are certainly on the up-rise, given the fact that last year saw a loss of 18.68% in the fall from the year previous.

Leading Europe’s markets is Finland with a strong growth rate of 11.03%. Finland was one of the hardest hit countries in the GFC and the report indicates that housing prices in the country are expected to rise further before the year comes to a close.

Norway’s housing market grew by 7.65% year-on-year. This is a result of two major stimulus factors; low interest rates and a massive stimulus package.

Not far behind with a 6.63% rise is Luxembourg. The previously heavily bashed UK recorded a 5.43% increase in property prices, whereas France and Germany gained 0.5%, a very modest growth.

Asia top ranking

Among all the regions surveyed for the report Asia is definitely the strongest contender with not just one, but four regions in the top 4.

Hong Kong is the clear winner overall with a very strong 27.15% growth rate after inflation. Globally speaking, Hong Kong is also leading the property market pack at this point in time based on its great return from the “dead.”

Meanwhile Taiwan and Singapore preparing for a possible housing bubble.

Australia is also amongst the countries showing the strongest rebounds year-on-year. It recorded a 16.58% growth, last year’s figures were in the minus with -7.77%.

Another surprise

One of the previously strong contenders was Israel. They showed remarkable strength last year when everything around them went belly-up. Again, this year’s figures show us that Israel’s property market has kept its strong growth rate. With figures of 5.87% last year, 2010 has seen more than double that with a healthy 12% after inflation.

Table overview

You can see for yourself on the table below how the global housing market looks at this point in time. Towards the bottom of the table you can find many countries who still suffer from the aftermath of the global financial crisis.

Having said this, you can also see by the figures that many of them are on the way up (not hard once the market is at rock bottom).

Negative changes

The following countries have not seen any positive upswing during the 2009-2010 year-on-year survey.

• Switzerland
• Netherlands
• Croatia
• Slovakia
• Ireland
• Bulgaria
• Thailand

Source: Global Property Guide

In closing

Many industry observers speculate that the worst is not over yet, despite the figures indicating otherwise. There is no doubt that the GFC has rattled a many housing markets and that for them, the only way is up. How long this will take is entirely any one’s guess. What do you think?