During the holiday season many families will turn to credit cards to finance Christmas expenses. This makes it less stressful to make ends meet, especially during the holidays. Sometimes we don't even realize how much damage is done until the credit card bills start to arrive in January.
Credit cards are very convenient but have their pitfalls. Credit cards bear very high interest rates, often more than 20% interest and in the case of department store cards up to 30%. Interest is calculated monthly so if you get caught up in a pattern of only making minimum monthly payments, they can take years to pay off. Credit cards that have balances more than 75% of their limits will damage your credit rating/credit score.
The last thing you want to do is go into the next holiday season with credit cards that have balances from the spending you did the past holiday season. The best thing to do if you have accumulated balances on credit cards from holiday spending is to consolidate maxed out credit cards using your home.
There are many reasons why it is a great idea to consolidate maxed out credit cards using your home. Here are just a few:
1. Using your home to consolidate maxed out credit cards will enable you to start the New Year on a fresh foot and with a single monthly payment.
2. Using your home to consolidate maxed out credit cards will increase cash flow because a home equity loan or line of credit will bear a much lesser payment than what you are paying to your credit cards on a monthly basis.
3. Using your home to consolidate maxed out credit cards will reduce the overall interest that you are paying to loans and credit cards. Home equity loan and home equity line of credit interest rates are much less than what you are paying to your individual credit cards.
4. Using your home to consolidate debt will improve your credit because all of your credit card balances will be reduced to zero and the less debt reporting to your credit report, the higher your credit score will be. Also, as we mentioned when credit card balances exceed 75% of your limits, it reduces your credit score and will trigger a message to appear on your credit report that indicates that your credit card balances are too high in proportion to your credit limits.
It is important that if you consolidate your maxed out credit cards using your home equity that you don't continue to use your credit cards. Put them away and only use a single card and make sure to use the card in denominations that you can afford to pay off in full each month. This will ensure that you don't find yourself in the future with a new payment on a consolidation loan and paying credit card balances.
Start your New Year off with your finances in order and without the stress of having to pay a windfall of credit bills.
Showing posts with label Using. Show all posts
Showing posts with label Using. Show all posts
Wednesday, June 20, 2012
Wednesday, June 6, 2012
Create an Incident Command Post using vehicle accessories such as tailgate tents, lights and flags
When fires break out or accidents happen, emergency response teams are quick to arrive on the scene. Fast response is necessary in order to save lives and property. Anyone involved in an incident relies on the police, fire fighters or other responders at the scene to act quickly, organize efficiently, and make life-saving decisions. In such hectic conditions, organization is imperative and establishing the incident command post to coordinate response activities is top priority. It can often be difficult to distinguish which response vehicle is coordinating efforts, which is why custom vehicle accessories make all the difference. Accessories such as easy to set up EMS vehicle tents and lighting that can turn any response vehicle into a clearly designated incident command post are important tools for first responders. These vehicle accessories are making a hugely positive impact on incident management.
The need to take orders from a single center is quite clear. The accident scene is full of many responders and all of them are on the scene to offer valuable assistance needed. However, the fact that so many people are on scene with a wide variety of emergency vehicles may create confusion.
Any additional amount of confusion can easily lead to loss of lives that would otherwise have been prevented. Experts have noted that such mistakes have contributed to unfortunate happenings at accident scenes, they have since developed products and recommended the implementation of a mobile incident command center. The responders are therefore coordinated from the command vehicle identified by a clearly marked canopy, flag and lighting.
Personnel arriving on scene shouldn't have to ask "Where's the command post?" But finding a sedan - or SUV - size command post in a sea of massive fire and rescue apparatus can pose a challenge. With EMS vehicle Command Post Flag and Light any vehicle can be identified by the green "CP" flag and a green beacon mounted on a collapsible, 10 aluminum, shock-corded pole that attaches to the side of the chosen response vehicle via extra strong magnets. The beacon is visible from two miles away and can be set to stay lit or to flash.
First Responder vehicle canopies were designed and created specifically to aid rescuers who will be arriving in different vehicle types. You may have even seen these accessories used in some of your favorite shows like CSI: Crime Scene Investigation. These canopies are adjustable to fit the rear opening of most emergency vehicle trucks, SUV's and vans. EMS vehicle tents are lightweight, easy to stow and quick to set up.
These custom vehicle canopies are also designed to protect valuable equipment including computers, radios, fax machines and coordination materials by offering extended protection from the elements four feet beyond the rear of the vehicle. This easily provides enough space and shelter for up to 4 professionals on the scene to operate equipment and coordinate efforts. As most responders know, accidents are never convenient, which is why the additional lighting proves to be useful at night. This design is engineered specifically to aid the mobile rescue unit.
Accident victims rely on responders and responders rely training and having the right equipment accessible. First responders are finding great value in EMS vehicle accessories such as easy up truck tents with command post markings and lighting.
The need to take orders from a single center is quite clear. The accident scene is full of many responders and all of them are on the scene to offer valuable assistance needed. However, the fact that so many people are on scene with a wide variety of emergency vehicles may create confusion.
Any additional amount of confusion can easily lead to loss of lives that would otherwise have been prevented. Experts have noted that such mistakes have contributed to unfortunate happenings at accident scenes, they have since developed products and recommended the implementation of a mobile incident command center. The responders are therefore coordinated from the command vehicle identified by a clearly marked canopy, flag and lighting.
Personnel arriving on scene shouldn't have to ask "Where's the command post?" But finding a sedan - or SUV - size command post in a sea of massive fire and rescue apparatus can pose a challenge. With EMS vehicle Command Post Flag and Light any vehicle can be identified by the green "CP" flag and a green beacon mounted on a collapsible, 10 aluminum, shock-corded pole that attaches to the side of the chosen response vehicle via extra strong magnets. The beacon is visible from two miles away and can be set to stay lit or to flash.
First Responder vehicle canopies were designed and created specifically to aid rescuers who will be arriving in different vehicle types. You may have even seen these accessories used in some of your favorite shows like CSI: Crime Scene Investigation. These canopies are adjustable to fit the rear opening of most emergency vehicle trucks, SUV's and vans. EMS vehicle tents are lightweight, easy to stow and quick to set up.
These custom vehicle canopies are also designed to protect valuable equipment including computers, radios, fax machines and coordination materials by offering extended protection from the elements four feet beyond the rear of the vehicle. This easily provides enough space and shelter for up to 4 professionals on the scene to operate equipment and coordinate efforts. As most responders know, accidents are never convenient, which is why the additional lighting proves to be useful at night. This design is engineered specifically to aid the mobile rescue unit.
Accident victims rely on responders and responders rely training and having the right equipment accessible. First responders are finding great value in EMS vehicle accessories such as easy up truck tents with command post markings and lighting.
Tuesday, May 8, 2012
Using Your Credit Card Responsibly: 5 Tips For Beginners
Credit cards are so popular nowadays and it's not hard to see why. They are safe to use on the Internet and they make life a little easier while we are waiting for payday to come around. However, using a credit card is can be financially dangerous if you don't know what you are doing. Here are 5 tips for beginner credit card users to help you use your card responsibly and avoid getting into debt.
1) Budgeting
Understand the importance of sticking to a reasonable budget. Yes, it's tempting to decide that you can over-spend this month and under-spend next month to make up for it. But this is a dangerous trap to fall into. Make sure your budget is something you can afford to pay off every month. You should think of your credit card the same as you would think of cash; you cannot spend more than you have available.
A great way to keep track of how much you are spending is to link you credit card up with your cell phone; you will receive text messages informing you of your usage.
2) Monthly Payments
When you receive your statement each month, it is so easy to be tempted by the minimum payment option. This states a small amount that you must pay off each month and the rest will roll-over until next month. Do not get sucked in to this. Always pay the full amount on time every month. By sticking to the minimum payment option, you are putting yourself in a dangerous position of allowing debt to accumulate, and interest rates will begin to increase.
Your statement will inform you of your payment due date. If you don't pay on time, you will be charged with a late payment fee. This is how credit card companies make their money.
3) Internet Banking
Nowadays, credit cards come with the option of Internet banking. This is an excellent and free way to make sure you aren't over-spending because you can log in and check your usage anytime. Additionally, by linking your credit card with your bank account, you can use Internet banking to pay off your credit card fees from the comfort of your own home. Paying in cash at the bank usually comes with a small charge, whilst banking online is free. If you are sick or busy, you don't have to go to the bank; you can simply log on and make the transfer.
4) Credit Rating Awareness
Every time you use your card, be aware that you are building a credit rating, which will come in handy later in life when you are looking to mortgage a house or get a loan. Missed payments, late payments, and accumulation of debt will all damage your credit score and will be visible on your credit report. Often, a bad credit rating means that you will be rejected for a loan or mortgage, or offered it at high interest rates. On the other hand, if you consistently pay in full every month and stick to a reasonable budget, you will be building a positive credit rating that will support your applications for a mortgage at a low interest rate.
5) Cash Advances
You might think it is harmless to use your credit card to withdraw cash from an ATM. However, this is considered a cash advance, which is subject to much higher interest rates than other transactions. Plus, you will be charged a transaction fee for such usage. Unlike other transactions, there is no safe period in which you are free from repayments until a certain date each month; instead, the interest on cash advances begins to accumulate immediately and continues to build until you have made the repayment. Cash advances are designed for emergency use only.
Having a credit card can be a very positive thing if you use it correctly. Having a good credit rating can become invaluable later in life. However, it is so easy to slip into bad credit habits, such as opting for minimum payments, paying late, using cash advances, and over-spending. Constantly be aware the money you spend is not free; you are responsible for paying off anything you spend by a certain date each month.
1) Budgeting
Understand the importance of sticking to a reasonable budget. Yes, it's tempting to decide that you can over-spend this month and under-spend next month to make up for it. But this is a dangerous trap to fall into. Make sure your budget is something you can afford to pay off every month. You should think of your credit card the same as you would think of cash; you cannot spend more than you have available.
A great way to keep track of how much you are spending is to link you credit card up with your cell phone; you will receive text messages informing you of your usage.
2) Monthly Payments
When you receive your statement each month, it is so easy to be tempted by the minimum payment option. This states a small amount that you must pay off each month and the rest will roll-over until next month. Do not get sucked in to this. Always pay the full amount on time every month. By sticking to the minimum payment option, you are putting yourself in a dangerous position of allowing debt to accumulate, and interest rates will begin to increase.
Your statement will inform you of your payment due date. If you don't pay on time, you will be charged with a late payment fee. This is how credit card companies make their money.
3) Internet Banking
Nowadays, credit cards come with the option of Internet banking. This is an excellent and free way to make sure you aren't over-spending because you can log in and check your usage anytime. Additionally, by linking your credit card with your bank account, you can use Internet banking to pay off your credit card fees from the comfort of your own home. Paying in cash at the bank usually comes with a small charge, whilst banking online is free. If you are sick or busy, you don't have to go to the bank; you can simply log on and make the transfer.
4) Credit Rating Awareness
Every time you use your card, be aware that you are building a credit rating, which will come in handy later in life when you are looking to mortgage a house or get a loan. Missed payments, late payments, and accumulation of debt will all damage your credit score and will be visible on your credit report. Often, a bad credit rating means that you will be rejected for a loan or mortgage, or offered it at high interest rates. On the other hand, if you consistently pay in full every month and stick to a reasonable budget, you will be building a positive credit rating that will support your applications for a mortgage at a low interest rate.
5) Cash Advances
You might think it is harmless to use your credit card to withdraw cash from an ATM. However, this is considered a cash advance, which is subject to much higher interest rates than other transactions. Plus, you will be charged a transaction fee for such usage. Unlike other transactions, there is no safe period in which you are free from repayments until a certain date each month; instead, the interest on cash advances begins to accumulate immediately and continues to build until you have made the repayment. Cash advances are designed for emergency use only.
Having a credit card can be a very positive thing if you use it correctly. Having a good credit rating can become invaluable later in life. However, it is so easy to slip into bad credit habits, such as opting for minimum payments, paying late, using cash advances, and over-spending. Constantly be aware the money you spend is not free; you are responsible for paying off anything you spend by a certain date each month.
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