Tips of the week:
1. There are certain repairs which can really improve your home's value. Make sure you focus on the right ones.
If you are planning to sell your house, make sure that you get the maximum value for that home. Do some smart repairs in the house so that the value of the house is increased.
2. You have to take the initiative and prepare for retirement. Don't rely on others to take care of you after retirement.
Proper planning for retirement at an early age is the key to a wealthy retired life. Don't think that others will take care of you after your retirement. Prepare yourself for a wealthy retired life as early as possible.
3. Small business can help you earn extra money but many a times they fail. So, start slow and grow slow. Don't take out loans to start a small business!
Taking out a loan to kick-start your small business is not always the right move. Instead, start in a limited way and and grow slowly with no debt burden at all.
4. Your income is one of the best financial tools. Do not throw it away in paying off bills and payments.
Don't burden yourself with debts. You need to keep it in mind that you have to repay the debts from your income.
5. You should teach your kids about the pitfalls of credit cards and how easily they can get buried in it.
The credit cards are very attractive but improper usage of credit cards can be financially very fatal. As a responsible parent, you should teach the drawbacks of having credit cards to your kids.
Queries of the week:
1. What steps have you taken to enjoy a stress-free Christmas party?
I will make it a completely family affair. I have already set up a budget for that grand occasion. I will ensure that I don't cross my budget.
2. Do you believe in exchanging gifts on Christmas?
Exchanging gifts on the occasion of Christmas is fine. But, you need to ensure that you don't overstretch yourself financially and live within your budget.
3. What steps should you take to avoid holiday cyber scams?
I have to ensure that I do online transactions from a private and safe place. I should try to memorize my password, instead of writing it in a piece of paper.
4. What priceless gift can you give your kids this Christmas?
It depends on the taste and choices of your kids. But, that gift should be within your budget.
5. What should you buy during the Cyber Monday sales?
This depends on your tastes and choices.
Active rain posts of the week:
1. Explore the incredible benefits of a USDA loan
USDA loan is a mortgage loan and it is guaranteed by the federal government. The aim of this loan is to assist rural populace in the country to realize their dream of home ownership. The most attractive feature of this loan is that no down payment is required for this loan. However, in order to qualify for this loan, the income of the borrower should be less than the median income of that area and the house that you are looking for should be located in the USDA designated area.
2. A brief idea on FHA 203k loan
One important type of mortgage guaranteed by the Federal Housing Administration (FHA) is the FHA 203(k) loan. FHA 203(k) offers finances for the purchase of a house as well to make some non-structural repairs in it. Investors and flippers are not eligible for this mortgage offer. Down payment required for this mortgage loan is less than the down payment required for most of the other types of mortgages.