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Posts Tagged ‘financial advice’

People approaching retirement are having to resort to equity release to bring down their debt levels, according to new research.

After a little over a year I’ve worked my butt of to become debt free by living frugally and way under my means. I am now going to receive a ,000 bonus from my job. What is the best way to allocate this money?

I have no emergency fund, nor do I have any retirement. I don’t want to spend this money frivolously. I’m done with that.

Should I put it into an emergency fund? Or start my retirement? (I’m 25 years old)

I was also thinking of using the money to use towards down payment on a house because I would rather pay mortgage than pay rent if the amount equals out.

Financial advice is appreciated! Thank you!
I make ,800 a month take home if that helps.

Consolidation loans for non-homeowners refers to a consolidation of different types of debt that aren’t related to the acquisition of a home. Find out about different types of non-mortgage debt withhelp from a registered financial consultant in this free video on money management and personal finance. Expert: Patrick Munro Contact: www.northstarnavigator.com Bio: Patrick Munro is a registered financial consultant (RFC) with outstanding sales volume of progressive financial products and solutions to the senior and boomer marketplace. Filmmaker: Reel Media LLC

Financial adviser Dan Danford answers this financial question in today’s edition of Money Made Easy: Can you explain debt consolidation services and how they work? I’m leery of all these ads I’m seeing about debt relief because they sound too good to be true. Danford, MBA, CRSP, of Family Investment Center, offers his financial advice on debt consolidation along with showing an easy to understand chart that shows why a consolidation loan may be right for you.

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It’s difficult to be debt free and to acquire assets at the same time, but it’s important to only acquire good debt when working towards a goal of being free of debt. Find out how to get rid of a mortgage early by making extra payments withhelp from a registered financial consultant in this free video on credit and personal finance. Expert: Patrick Munro Contact: www.northstarnavigator.com Bio: Patrick Munro is a registered financial consultant (RFC) with outstanding sales volume of progressive financial products and solutions to the senior and boomer marketplace. Filmmaker: Reel Media LLC

We have 12,000 in school loans, about 2,000 in medical bills, 8,500 in auto loan, 4,000 in credit card debt, and 124,000 owed on our house. With that said we will be receiving 5,000 for tax refund. We have 3 vehicles (one that needs 2,000 in repairs that is paid off, another that is paid off and the family van that we are in the process of paying off). We need 2 cars, so one could be sold. We will be selling our house in the spring and living rent free in our parents house while they are away for a year while my husband goes back to school, so we could use our equity about 24,000 to pay off all debt and have less to put down on another house when we decide to buy. What would you do in our financial situation?

Option 1: Sell the van. It is worth about 8,200 and we owe 8,400. We then take the 0 car payment and put it towards paying down debt. However, we would need 2,000 to put into the broken down car. Or/and sell the broken down car worth 0 in it’s current state.

Option 2: Using tax return to pay off credit card debt and them some

Option 3: When we sell the house pay it all off and have less money down on a new house when we decide to buy again.

I don’t know…I see these options are right around the corner or sitting on my lap so it is nice to see a light at the end of the tunnel, but was just looking for some financial advice.