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Articles in the Personal Finance Category

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The Cons and Pros of Car Ownership

Though dozens of studies have found a relatively low percentage of driver’s license ownership among young adults, a recent poll found that it is not for lack of interest in owning a car. Research firm Nielsen states that roughly 80 percent of millennials (which in includes anyone aged 18 to 34) disagree with the statement “Owning a vehicle is not worth the money.” Cars have always symbolized independence and opportunity, and young people continue to value those features today. In fact, the number of auto loans provided to millennials has …

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A Quick Guide to the Main Types of Investment

The dictionary describes ‘investment’ as the “action or process of investing money for profit or material result”. Nowadays, the main forms of investment are typically divided into three main categories. Whilst each type constitutes a broad range of different investment options, learning about these three types of investments makes for a good starting point if you’re a newbie to the world of investment. For a glossary of important investment terms, see this list. For an explanation as to the different investment types, see the guide below.
Ownership investments are basically founded …

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Money Down The Drain: This Is What To Do If You Want To Destroy Your Wealth

Building your wealth in today’s economy has never been more challenging. Interest rates are low; the job market is sclerotic. The system is rigged against the small investor and business owner. And if you’re a young person, you might as well forget it.
Things are bad, relatively speaking. But of course, it’s always ten times easier to make things worse. Here’s how young people today are blowing their wealth and destroying their life chances.
Impulse Purchases
The Bank of Montreal recently looked into how many people make impulsive buying decisions. They found that …

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Teens And Adults In Their Twenties Are Completely Avoiding Buying A Car

Apply for a graduate job this year and you’ll always come across one particular prerequisite. You must have a driving license, and usually, they’ll require a couple of years experience on the road. Nope, we’re not talking about driving jobs here. Almost every employer demands it. Why is this? Well, it could be because you’re going to need to travel at some point during your job. Even if you’re working in an office, you might need to see a client. If you can’t just drive there, you’re creating a problem …

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How to Get a Well-Paid Job in a Thriving Industry

Although we all have different goals in life, few people would turn their noses up at a well-paid job in a thriving industry, and if this numbers amongst your desires, embrace it. Ambition is nothing to be sneered at, and provided that you’re willing to put in the time and effort required to succeed, there is little to stop you from achieving your dreams.
This doesn’t mean that success will come easily. You have to really want it, and must be prepared to prioritise doing well professionally above most other things …

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Pros and Cons of Having Multiple Life Insurance Policies

As a responsible individual we always double-check things to eliminate risks. You might think the same with your insurance policies. As insurance offers financial support to your family after your death, you must be thinking of choosing multiple insurance plans to secure your family’s future.
Insurance policy certainly can’t fill up the gap left by you but it offers your nominee lump sum death benefit that gives them strength and time to fight back the crisis.
At present there are many types of insurance policies available in the market. You can compare …

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[10 Sep 2016 | Comments Off on Reverse Mortgage FAQ | ]
Reverse Mortgage FAQ

The HECM or home equity corporation mortgage is actually an FHA reverse mortgage. It is used to withdraw on the equity of your home. This type of mortgage is especially popular with senior citizens because they can draw on the equity of their home for life’s unexpected events such as car repairs or medical expenses. If this sounds like something you need you can contact the Council on Aging or go to their website and download the booklet free of charge. After reading the information you can decide if this …

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[30 Aug 2016 | Comments Off on Mistakes New Home Buyers Must Avoid | ]
Mistakes New Home Buyers Must Avoid

The property market is like a massive maze and finding your way can be tricky. What’s the goal of the average home buyer? You’re looking to find a property that you love and purchase it for the best possible price. During this process, you don’t want to lose money, and you certainly don’t want to lose the chance at buying a fantastic home. Unfortunately, both of these issues are regular occurrences for home buyers. You need to know how to avoid the problems and get the best home buy possible. …