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Seema's Questions & Answers

in Beauty & Fashion, Food & Drink& Personal Finance & Tax

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Questions Asked: 26

Best Answers: 42

How to Better Your Credit Score?

Asked by karn singh in Personal Finance & Tax at 8:25 PM on January 31, 2009

Seema's Answer

Whatever your credit rating is now, here are a few tips to help you get a better credit score.

Step1
Make a better credit score your goal. While you may not be able to control exactly how much your score goes up, you can control what you do to make it go up. Create a text file, entitled "My Credit Score," and record each step you take to better your credit score. For example, record each time you make a bill payment on time, and record each month you successfully keep your credit card under 30% of its credit line. So you know where you stand now, consider requesting your free credit report, and paying the small fee for your credit score.
Step2
Pay your bills on time. Because whether or not debts are paid on time make up 35% of your credit score, you can be certain that each on time payment will better your credit score. While automatic online payments are an option, they may turn out to harm your credit score if you don't have the funds available for the transaction. A better option may be to keep a log with your bills listed in one column, the date you are going to pay the bill in the second, the date the bill is actually due in the next, and the amount due in the last. Check this log every day, and you'll never have to worry about a late payment again.
Step3
Use no more than 30% of your credit line each month. For a better credit score, some people suggest using no more than 10% of your credit line.
Step4
Get a secured credit card. If you can't better your credit score because you don't have good credit and can't get any, then a secured credit card may be the solution. These are different from prepaid cards. Instead of essentially converting your cash into cash with benefits, you're basically loaning yourself your own money in order to build credit. The more money you use to secure your card, the higher your credit line is. Treat this secured credit card as if it were a regular credit card, and you'll build a better credit score fast.
Step5
Don't close a credit card account once it's paid off. Your credit score is partially based on your ratio of debt to credit. If you already have the credit, then you can better your credit score if you don't reduce this ratio by closing the account. If you must close the account to stop yourself from using your credit card, cut the card up and change the password to your account to something you will easily forget.
Step6
Open a new account. If you have little to no credit, you may need to open a few more accounts to prove you're credit-worthy. Get a credit card or bank loan, and make on-time payments on the credit card or loan, and you will certainly better your credit score.
Step7
Check back on your goals. Constantly revise and edit your goals to make sure they're achievable. Reward yourself for your successes. After six months or a year, check your credit report and score again to see how much you've improved your credit score.

Answered at 8:46 PM on January 31, 2009

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How to Borrow Money?

Asked by karn singh in Personal Finance & Tax at 8:25 PM on January 31, 2009

Seema's Answer

Money is something we need, but sometimes the wallet is empty, read on to learn how to borrow money.

Step1
Money is not everything but it is a need for housing, food, and clothing. Sometimes life takes us to a place where we might have to borrow some funds. This article is about some tips on where and how to borrow money.
Step2
I personally do not like to borrow from anyone it makes me feel bad, but I would first ask friends. Now do this carefully, only ask close and trustworthy friends. Keep this mind a friend is a friend but sometimes money can change all that.
Step3
Paydayloans are another option. Even though the interest is high if you need money and are in a bind, this is a choice. Shop carefully, some loans rates are higher than others. Always read what you sign and pay off early to save if that is an option. I wrote an article in the past that has helped many I will place it in the resource section of this article. So if a need comes up use some of these tips to borrow some moola.

Answered at 8:45 PM on January 31, 2009

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How to Borrow money stress free?

Asked by karn singh in Personal Finance & Tax at 8:27 PM on January 31, 2009

Seema's Answer

When someone borrows you money especially if you do not know them, you are kind of choking your own finances and afraid that he/she might just run away your money but if you know the person who borrows you then there's not much to worry about. I am talking about your close family and friends. I always borrow money from people I know and they know that as soon as I will get paid then they will get there money back, it might not be the whole amount but at least I let them know ahead before they get choke for what I pay back to them. I ask for money for an important matter or emergency not just to have a nice makeup or lipsticks. I run out of gasoline and then broke the car, I can easily pull my credit card but it will take me a year to really pay it back because of the interest added every month. So how about to call someone who has money and has trust on me a bit.

Step1
Ask your close friend or family first before spending your credit card if you need an emergency cash for spending.
Step2
You can borrow online too with lower interest like Lending club. These are group of individuals who borrow and lend money to each other with better rates compared to the mortgage company.
Step3
Ask your neighbor for some financial support in a short time. But remember the word "pay back". Do not take for granted if there's someone who is willing to help you out. Give some gratitude and show some money to pay all or at least some.
Step4
But if your check is coming and you can have your money in just a couple of days, then get some cash advance from your credit cards but you must pay it before the due date so that you will not get stuck in more debt.
Step5
You can also borrow from your paycheck ahead of your pay day. Just tell the truth about the situation and just let the company take some money from your paycheck for payment.
Step6
Or if your attic has full of stuff that you cannot describe because it's too old and you do not know about it. Let the buyers or bidders decide the price and list it on any online auction like eBay instead of throwing it to the garbage.

Answered at 8:42 PM on January 31, 2009

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How to Borrow Money When Banks Won't Loan?

Asked by karn singh in Personal Finance & Tax at 8:27 PM on January 31, 2009

Seema's Answer

Follow these steps-

Step1
The first way you can borrow money when banks won't give you a loan is by looking for different banks. If you've been to your local bank and they won't give the loan, try an online bank. There are several online banks that specialize in bad credit loans. How is this possible? First off, competition is through the roof, the banks NEED your business. Second, an online bank typically has lower overhead, so they can offer a better rate, and assume greater credit risk.
Step2
The next way to borrow money when the banks won't give you a loan, is a payday advance loan. In general, you can get a short term loan even with poor credit. Realize that you will pay a high interest rate with this type of loan. If you only need a quick loan, this may be the way to go.
Step3
If the banks won't loan you any money perhaps you could do a credit card cash advance. This option will cost you plenty of interest, but it may do the job if you're in desperation mode.
Step4
If banks won't loan you any money, maybe your parents will borrow you some. It's worth a shot. More complete details are provided in the resources section.

Answered at 8:42 PM on January 31, 2009

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How to Borrow Money from a Friend or Relative?

Asked by karn singh in Personal Finance & Tax at 8:26 PM on January 31, 2009

Seema's Answer

One of the quickest ways to ruin a relationship is to borrow money and not pay it back. If you find yourself in a situation where you have to borrow money from a friend or relative, there are a few things to consider

Step1
Exhaust your other options. Go to a bank, credit unions and anything short of a loan shark to borrow money before you ask your friends or families for money. Only ask friends or family to loan you money after the traditional financial institutions have turned your personal loan request down.
Step2
Borrow Money Borrow Money Tell them how much you need and how you intend to pay the loan back. More so than giving them a sob story about your baby needing a new pair of shoes or that your car is in need of repair, when you ask somebody for money the one thing they want to know is when and how you’re going to pay it back. Give them an anticipated loan repayment schedule and interest rate (if any).
Step3
Explain why you need the money. Make sure y our reason is a valid one. Borrowing money for Super Bowl tickets might not be a good idea.
Step4
Borrow Money Borrow Money Be prepared in the event you are turned down. If your friends or family members turn you down, do not hold it against them. They may not be as financially secure as you think they are. They may be undergoing financial stress during these tough economic times also.

Answered at 8:44 PM on January 31, 2009

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How to Borrow Money from a Friend or Family Member without Regret?

Asked by karn singh in Personal Finance & Tax at 8:26 PM on January 31, 2009

Seema's Answer

Sometimes getting a decent loan with lending companies isn’t a reality. Maybe you can’t afford the closing costs right now. Or maybe your credit is so bad that legit lending companies don’t want to touch your debt with a ten-foot pole. Whatever the reason, you may need to look to a friend or family member for a money loan to pay off debt. One thing you don’t want to do is cause regret between you and your loved one, especially over cash. But sometimes all it takes is one bad loan to sever a relationship. Here are some tips on how to borrow money from a friend or family member without regret.

Step1
Before asking your friend or family member for a cash loan, decide whether or not you can repay this loan. Just because you aren’t getting a loan from one of the lending companies doesn’t mean you can borrow money haphazardly. Make certain that you can repay this debt. If you think you can go back on this loan because it’s from a loved one, you will soon regret it when there’s bad blood between the two of you. And don’t think your friend or family member will simply walk away from the bad loan; chances are that you will get sued for the money owed.
Step2
Be honest about your debt. Let your friend or family member know why you are avoiding a loan with lending companies. Honesty when seeking to borrow money from a loved one is an important step for avoiding any regret later on.
Step3
Take this loan as seriously as you would a money loan from one of the reputable lending companies. Craft a loan agreement that lays out the terms of the loan. Include the amount of debt that is to be repaid, how payments are to be made, and what will happen if you miss a payment. (The person lending you the money may even want some sort of collateral in case you don’t live up to your end of the bargain.) And this is how to borrow money from a friend or family member without regret.

Answered at 8:43 PM on January 31, 2009

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How to Calculate How Much Money to Save in Order to Become a Millionaire?

Asked by karn singh in Personal Finance & Tax at 8:27 PM on January 31, 2009

Seema's Answer

Becoming a millionaire is not so hard if one works hard and save an ample amount of money. When saving money to become a millionaire, you need to consider the interest rates you are receiving on your deposits to a savings account. I will show you how to perform such a calculation with enough ease.

Step1
Banks like Bank of America, Capital one, Emigrant Savings and Wachovia Bank all offer competitive interest rates on savings accounts. You always need to go for the huge interest rates so that you can get bigger and better profits for your savings.
Step2
Assuming your are starting your investment with just an amount of $10000 and you are taking an interest rate of 6% so that you can millionaire in just 35 years. You will have to contribute at least $10000 every year to your savings account so that the new investments can receive some of the interest rates. This will keep pushing the amount of money you make through your investments highly up.
Step3
Be aware that it would not take much effort to reach your goal if you can make a yearly contribution of just $10000.
Step4
You will actually have over $1,235,000 in thirty five years. Do the calculations and see.

Answered at 8:39 PM on January 31, 2009

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How to Buy a Great Home at Auction?

Asked by karn singh in Personal Finance & Tax at 3:04 PM on January 30, 2009

Seema's Answer

Have the Funds Available Before Auction - The general wisdom of most prospective home buyers is that you must come up with the total sum payment. While it is true that upfront funds are required, you are not necessarily required to come up with an all-cash payment In some states, bidders are required to bring the full amount they want to bid in the form of cash or cashier’s check. In other states, bidders are required to bring a 10 percent minimum of the bid amount, and pay the remainder of that amount within a certain timeframe stipulated by state law if they become the winning bidder. Yet in other states, you can finance your purchase with a home loan at auction, just as you would with a conventional purchase through a real estate broker. Needless to say, it is very important, that you have your financing in place before taking part in any auction. Backing out of a winning bid due to lack of funds could result in you losing your earnest money and could land you in a lawsuit for breach of contract signed by you on the day of auction. Bidding procedures varies from state to state, and you should become familiar with the procedures in your local area.

Find the Auction Locations Your Area - A good place to start would be the newspaper classifieds. Notices for upcoming auctions are normally advertised in the real estate section. The National Auctioneers’ Association or the National Association of Realtors are also great sources for upcoming auctions nationwide. You can find both of these organizations on the web through Google. Real estate investment clubs may also have access to upcoming auctions. The information provided will be the date, time, and location. Most auctions are in the same county where the property is located and can take place either at the courthouse steps or at the property address.
Step3
Set Up Several Home Inspections - Once you get a list of homes that will be up for auction, you will want to visit the ones that interest you. Arrange an inspection for each of them. For this, you will need to hire an experienced home inspection specialist, and have him/her thoroughly examine each property you're interested in. Most states usually allow you to have an inspector look over the property days or weeks before the auction. You can go to auction without a home inspection, but as many experts agree, this would not be a wise decision. Since you will be buying the home in “as is” condition, you will want to do as much as permitted to avoid any problems later.

Make Sure that the Homes Have Free and Clear Title - Make completely certain that the homes are clear of hidden liens. You will need to hire a real estate attorney or title company to check for such liens as mechanic’s liens for unpaid work done to the home. The priority of a lien is usually determined by the date it was placed on the home. For example, a first mortgage will usually have the first priority, and all other liens will be considered junior liens. In most states, the public auction wipes out any junior liens. However, tax liens always have the first priority position over all other existing liens. If there are any outstanding liens on the home, the winning bidder may be required by state law to bear the responsibility of satisfying those liens. Therefore, it is imperative that you check for any liens, and the priority of the liens before you bid at the auction. In addition, an organized and thorough auction company will usually have a written and current title opinion showing that the home has free and clear title for all prospective auction buyers to review prior to auction. While you’re at it, you should get the fair market value of the home as well. The quickest and easiest way to do this would be to do your own MLS (Multiple Listing Service) search using some of the free online real estate services.
Step5
Go to the Auction and Bid - The opening bid at the auction is based on the total amount owed to the foreclosi

Answered at 3:46 PM on January 30, 2009

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How to Celebrate a happy Christmas in the middle of Global crisis?

Asked by karn singh in Personal Finance & Tax at 8:28 PM on January 31, 2009

Seema's Answer

The steps are givenbelow-
Step1
You have to have hope to tackle our economic turmoil. Be optimistic that someday our economy will recover and that everybody in the family will be just find. Stay healthy and focus during our tough times in the middle of the global crisis or deep recession in the World.
Step2
Do not focus to yourself so that you will not feel the self-pity type of mentality. Consider that there are millions of individuals who are suffering the worst effects of our global meltdown. Look around your neighborhood and other nations, you can see in the news about the kids who are struggling everyday to find water and foods in order to survive.
Step3
Open your hearts to others who are the most needy in today's crisis. If you have something to buy this Christmas then what else you need to make your family happy and celebrate your holiday without guilt? Your kids are probably lucky that their parents still have their jobs while there are many who are unemployed. And if you are unemployed, it's not the end of the world. Get up and look for the encouragement for yourself and your family.
Step4
If you have all your family members at home and then that would be enough reason to enjoy your Christmas Day even if we are facing the most difficult times in our economy. Do not ask too much for yourself, let others have it most especially the family who cannot afford anything.
Step5
If you have no cash or money, then ask for used items or anything in your local community to fill up your needs. You do not need to be sad it's just because you cannot afford to buy new toys for everybody. You should be sorrow if you cannot see your whole family anymore.
Step6
Always be resourceful even if your life is not difficult. There are times that some of us wasted too much it's because we can still see more in the banks or more food supply at the kitchen table. Do not practice that way. You should start saving your money in times when you can still afford to save because life is not certain, even if you seems too high right now, who knows what will happen to you in the future. So be prepared now than ask and beg later.

Answered at 8:33 PM on January 31, 2009

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How to Buy Gift Cards From Wachovia Bank?

Asked by karn singh in Personal Finance & Tax at 8:27 PM on January 31, 2009

Seema's Answer

You may be thinking of buying gift cards for your grandchildren this Christmas holidays. Wachovia Bank gives you the opportunity to order gift cards from their online banking website without even going through struggles just to purchase a gift card online.

Step1
Before you can order a gift card from Wachovia Bank, you need to have a credit card issued by Wachovia Bank. If you don't have one then you will most likely be unable to buy Wachovia Bank gift cards.
Step2
Log on to the bank's website, click on banking and you will be taken to an absolutely different page. Scroll down and locate the link which states gift and prepaid cards. Click on the link immediately you see it on the new page.
Step3
You will see a collection of cards to select from. Just click on the link which quotes Wachovia Gift Card. Read the information and be sure you understand what you are reading. Click on order gift card.
Step4
You will be taken to a completely different page afterward. Click on buy a card. You are buying a new gift card so that is the action you will take. Enter the accepted amount considering the range. You will actually see the range of amount accepted by the bank. Choose the message you want the bank to inscribe on the gift card. Add any information you want to appear with gift card. Also choose the shipping information of your choice. Click continue.
Step5
Fill all the required information requested afterward. Click continue promptly. You can now click check out. Accept the terms and condition. You will have to sign into your Wachovia account. You can also register as a new buyer and use your Wachovia credit card to make the purchase. You must have a Wahcovia Mastercard or Wachovia Visa credit card.
Step6
After finishing the above, just click on continue. Review your order and submit it. You are done.
Step7
Expect your card in the mail within a few business days.

Answered at 8:40 PM on January 31, 2009

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