Tips of the week
1. Don't believe in the lie that you cannot survive without debt! It is just a myth.
This is not true. In fact, you survive better without debt.
2. Learn how to manage your household's money, talk about money with your spouse and teach your children good money habits.
By following good financial practices and by inculcating those practices to your kids, you not only ensure a better life for yourself but also for your family.
3. Practice what you are preaching to your kids. They can catch hypocrites from a mile away.
If you are preaching something to your kids, you should also follow that in your own life. Otherwise, you can't teach those lessons to your kids.
4. If you stay away from temptations, you will be able to get better of any challenge, even money.
If you have self-control, you can manage your finances in a better way. This helps you keep a lid on your expenses.
5. Millionaires often drive used cars which are reliable because they know that new cars lose some of its value instantly!
New cars are costlier than the used cars. As the new cars lose some of its value instantly, it is sometimes wise to purchase used cars than to purchase used cars.
Queries of the week
1. What are the best things to buy during the Black Friday sale?
I would suggest you to go for that item which you long-cherished and which is costly.
2. I am currently in default of my mortgage payments and the mortgage company/bank has begun foreclosure proceedings. What can I do?
Consult an attorney.
3. What gifts should you buy for your near and dear ones on the eve of Thanksgiving day?
It depends on your personal choice and of course on the preference of your near and dear ones.
4. If you are sued for your debt, how will you possibly do?
Try to find out the root cause behind the problem and start working accordingly.
5. How do you plan to shop for Black Friday without spending a fortune?
Don't over-spend on shopping.
Activerain posts of the week
1. TILA-RESPA new rule: Aims to help consumers make informed decision
Recently, the Consumer Financial Protection Bureau (CFPB) has framed the final TILA- RESPA rule combining the disclosures that consumers receive while applying for and closing on a mortgage deal. The aim of the final rule is to make it easier for the consumers to effectively shop for mortgages. It seeks that the consumers receive perfect information and can compare different loans.
2. Pre-approval: A serious move to home purchase than pre-qualification
In mortgage pre-qualification, documents of the borrowers are not verified and it's just an informal qualification of a mortgage loan. On the other hand, mortgage pre-approval is a more serious step towards a mortgage loan. Here, the documents of the borrowers are verified. But, none of these ensures a mortgage loan.