How Fast Should You Pay Off Your Debt?

Unfortunately, there is no quick fix to eliminate debt. Not only does it take patience, time and diligence, but also a clear understanding of why we get ourselves into debt in the first place.
Was it that our wants were greater than our means? Was it thinking we could pay down our debt, only to realize after our bills, we had nothing left over?
Determining how fast we can and should eliminate debt starts with a few simple steps.

Write it down.

Get a visual handle on where you are with your mortgage, home equity, auto, medical, student loan and credit card debt.
List on each line the lender, balance, current interest rate, rate change date, final interest rate, minimum payment, monthly payment and due date. You can’t fix it until you face it.
[Related Article: The First Thing You Must Do Before Paying Off Debt]

Understand your cash flow.

We can’t save, invest or pay down debt until we clearly understand what funds are coming in and what funds are left over after we pay our taxes and living expenses.
When you enter what comes in and what goes out, subtracting them allows you to see whether you have a monthly surplus or deficit.
A surplus indicates you are living within your means. A surplus allows you to save, invest or pay down your debt.
A deficit indicates you are living above your means and most likely using your credit cards. If that is the case, review your monthly living expenses to determine what can be reduced or eliminated.
It is important to be realistic. If you have not figured in all your expenses, such as the $2.29 daily iced coffee, you’ll be tapping your credit card once again by month’s end.
[Related Article: Can You Really Get Your Credit Score for Free?]

Reduce your debt.

Once you’ve examined your cash flow and determined what is left over after your taxes and living expenses, you will know how much is available each month to pay towards eliminating your debt.
Additionally, now that you have written it all down and recorded the minimum payments, you’ll know what you must pay.
If the minimum payments total more than the surplus available, you’ll have to go back and start eliminating some of your discretionary expenses.
If the total is less than your surplus, you can pay more than the minimum. Just be careful not to get over-zealous.
Paying beyond the minimum payment could leave you short of cash at the end of the month, forcing you to pull the credit card right back out of your wallet.
Another strategy to consider when reducing or eliminating debt is to pay the smallest balances off first and pay the minimum on the rest of your debt.
Although you may save some money tackling the highest rate debt first, the mental relief that comes with paying off each debt burden far outweighs saving a few dollars!
[Related Article: Credit Reports Vs. Credit Scores: What's the Difference?]

Avoid future debt.

Part of the reason we get into debt is because we don’t save!
Start an automatic transfer each month into a savings account. In order to live within your means and not have credit card debt, it is critical to have a petty savings account.
A petty savings account will hold money you are setting aside for pleasurable things like vacations or home improvements.

Seek professional guidance.

The best approach to determine how fast you can and should eliminate debt is to work with a Certified Financial Planner™.
These individuals are highly trained and specialize in improving the financial well-being of single professionals, couples and families.

Artical From:- mint.com

9 Things Your Homeowner’s Insurance Might Not Cover

With homeowners insurance (or any insurance for that matter), you’re really paying for peace of mind – comfort in knowing that life’s curve balls won’t become insurmountable problems.

However, those curve balls come in many shapes and sizes, and sometime they can exceed the limits of a standard homeowners policy.

Here are nine things that a standard policy may not cover. If you’re worried about any of these issues (or live in an at-risk area) it may be worth updating your coverage.

Note: Every insurance policy is different, so this list is by no means the final word. Check with your provider to confirm where your coverage stacks up before you begin making any changes.

Earthquakes

Earthquake insurance almost always requires a separate policy.

And while only a handful of U.S. states actually face a substantial earthquake threat, the potential damage caused by quakes is usually reason enough for at-risk homeowners to seek protection.

Those who (wrongly) assume they’re covered by their homeowner policy are setting themselves up for a messy situation should disaster strike!

Trampolines and Tree Houses

Despite the good times they can bring, trampolines and tree houses also present safety risks (trampolines alone send over 80,000 people to emergency rooms each year), and you can be held liable for any personal or property damage these items cause.

The extent to which insurance policies will cover trampolines and tree houses varies, ranging from no coverage at all to unlimited coverage. If you have a trampoline or tree house (or are considering either one), check your policy to see what’s covered.

Simultaneous Events

Should a storm cause hail damage and flooding at your house, your policy may not cover the damage of either one.

This is due to an insurance term known as “anti-concurrent causation,” which basically means that a combination of losses can declare your policy void.

So, it’s best to scan your policy’s fine print and make sure dual catastrophes won’t jeopardize your coverage.

Pools

Homeowners insurance covers you on three fronts: damage or theft of your things, damage to your home and related structures (like a pool) and liability protection if someone sues you (which, when it comes to swimming pools, often presents the greatest danger).

If you have a pool, you’ll probably need to increase your policy’s coverage, tailoring each of these “fronts” to best support your unique swimming situation.

Aggressive Dogs

While an attack by man’s best friend may seem unlikely, keep in mind that insurance companies pay over $300 million per year to cover dog-related injuries.

As a result, they’ve become more cautious and outline very specific limitations (if your homeowner policy even covers dogs). If you have a dog, be clear on your pup’s protection.

Vandalism When Vacant

If you abandon your property for 30 days or more, any vandalism or “malicious mischief” that occurs is then considered the result of negligence and is no longer covered.

If you need to leave your house empty for an extended period of time, it’s worth looking into add-on coverage to make sure you’re fully protected.

Floods

Standard home insurance policies do not cover flooding that is an “act of nature.”

To protect your home from Mother Nature’s wrath, you need to purchase standalone flood coverage through the federal government’s National Flood Insurance Program.

Remember, anywhere it rains, it can flood (around 20 percent of flood insurance claims occur in moderate-to-low-risk zones) so it’s best to be prepared!

To get an estimate for the cost of flood insurance in your area, visit FloodSmart.gov.

Cash

If you keep an emergency cash stash in your home, you could be at risk of losing it for good if it’s stolen.

Not only is cash a burglar magnet, but most homeowners insurance policies don’t typically cover more than $200 of cash.

Jewelry, Fine Art or Collectibles

While standard home insurance policies will cover some of your personal property, there is a limit to the amount your provider will pay.

Basic coverage rarely accounts for items with high price tags or sentimental value. To be safe, insure your wedding ring and Babe Ruth baseball collection separately.

Artical From:- mint.com

Winning over women crucial for marketing success

Women are not an isolated demographic worth targeting in specific marketing campaigns; far from it. They are increasingly becoming the primary breadwinners in families and for themselves, decision-makers whose tastes & opinions need to be accounted for by businesses on a regular basis.
Recent studies indicate that women influence 73% of consumer spending in the United States, and single women account for ¼ of all U.S. households. The Pew Research Center revealed earlier this year that women now surpass men in the importance they place on having a high-paying career or profession by 7%.
This doesn’t mean family values have been forgotten however. For both men & women, good parenting and a strong marriage still rank as the highest priorities in life. What is becoming more evident in 2012 is the stronger emphasis on balancing that with a good career, for both genders. More women have been enrolling in college, holding bachelor degrees and entering the workforce than men since the 1990s, and the gap has been growing ever since
Women are also a strong reason why social media has taken off the last several years. 73% of U.S. female internet users use Facebook, and are 12% more engaged with brands via social media than just two years ago. They are:

• 46% more likely to read reviews about a product on line
• 33% more likely to recommend a specific product or service
• 30% more likely to write a review of a product or service

The influencing power of women can be summed up even further by one stat: more than half of U.S. female internet users directly feel a responsibility to help friends and family make strong purchasing decision, and 50% have done so in the past.
Contact your BSMG sales representative or call 410-332-6300 to learn more about specific ways to attract women with your advertising.

Artical From:- baltimoresunmediagroup.com

Free Mother’s Day Celebration Ideas

Just because you’re broke this Mother’s Day doesn’t mean you can’t do something great.
Here are some of our favorite ways to treat your mom for Mother’s Day without breaking out your piggy bank.

Make Her Something

Making mom something says more than a store-bought present ever could. For a crafty person, there are boundless opportunities to make mom something she’s going to cherish for years to come.
But if you’re not so artistically inclined, don’t worry. You can make her a mix CD, Spotify playlist, or load a thumb drive with some of her favorite tunes on it. She’ll think of you every time she looks at or listens to what you’ve made for her.

Cook For Her

Those who know their way around a kitchen have a ready-made way to make mom happy on Mother’s Day. You might have to shell out a little cash to buy food, but cooking mom a nice dinner at home can be done for a fraction of the cost of taking her out to a fancy restaurant.
Best of all, it gives the two of you time together in a comfortable and relaxed setting — just make sure to clean up your place before she comes over.

Go Day Tripping

If you and your mom both live in the same city, taking her on a day trip might be a great way to spend time together on Mother’s Day. Even if it’s just a drive up the coast, a short getaway gives the two of you some time to spend together.
Throw on some music and take the time to really catch up with her en route to a scenic destination and bring a picnic for lunch along the way.

Give Her a Call

In the 21st Century, it’s easier to communicate than ever before. You might text or email your mom several times throughout the course of a week but how often do you sit down and have a conversation with her?
Make it a point to give her some one-on-one time. That’s easy enough – especially in the age of Skype, free cell phone minutes, and VoIP.

Play Maid

How many times has your mother cleaned up after you in the course of her lifetime? Now it’s time to return the favor.
Tell her in advance that you’re coming by with all your cleaning products in tow — and that you’re not taking “no” for an answer. Let her know that this is her day and you’re going to be doing it all on your own, just like she did for you for so many years.
Remember: All your mom really wants for Mother’s Day is a little bit of your time, attention and appreciation for all her hard work. Give her that and it’ll be hard to go wrong.

Artical From:- mint.com

The 10 Best States to Make a Living

Making a good living is tough these days. But precisely how tough it is may depend on where you live.
Earning a decent wage, staying ahead of inflation and coping with taxes are some of the challenges American workers face. If they can succeed at all of this and actually enjoy their jobs, it would be a nice bonus.
For the third consecutive year, MoneyRates.com has conducted a study of the best and worst states for making a living.
Using average wage and unemployment data from the Bureau of Labor Statistics, cost-of-living figures from C2ER (formerly ACCRA) and state tax information from Tax-Rates.org, Money Rates.com calculated an average income figure for each state that includes adjustments for taxes, inflation and the chances of finding a job in that state.
Then, these figures were further adjusted according to each state’s Workplace Environment rankings from the Gallup-Health ways Well-Being Index poll. These factors provide both a quantitative and qualitative basis for the rankings that follow.
Here are Money Rates.com’s 10 best states to make a living for 2013:

Washington

The state of Washington starts workers out on the right foot with an average wage of more than $50,000 a year — one of the highest in the nation.
That high pay is more than enough to overcome a cost of living that is slightly above average, and workers get to keep more of that pay because Washington does not have a state income tax.
To cap it all off, Washington residents gave their work environments an above-average ranking in the Gallup-Healthways poll.

Virginia

Virginia’s strengths include a high average income, a low cost of living and low unemployment.
This has been a consistently winning combination for the state: Virginia has ranked in the top five states for making a living in each of the three years MoneyRates.com has done this study. It even ranked No. 1 in the 2012 study.

Colorado

A relatively high average income and moderate inflation are enough to help Colorado do well on quantitative factors, and having the third-best ranking for work environment gives it an extra boost.

Texas

Income in Texas is only about average, but a low cost of living and no state income tax make that income go further. Texas has been a top-five performer in all three years of this study.

Wyoming

A variety of factors helped Wyoming make the top 10 for the second year in a row, including ranking second-best nationally for work environment, plus having no state income tax and a very low unemployment rate.

Minnesota

An above-average income and relatively low unemployment helped Minnesota stack up well on quantitative factors. On top of that, Minnesota ranked 10th nationally for the quality of its work environment.
This marks Minnesota’s return to the top 10, after making the list in 2011 but narrowly missing it last year.

Nebraska

Nebraska makes the top 10 despite its below-average income figure.
A low cost of living and one of the lowest unemployment rates in the nation help Nebraska make up ground quantitatively, and a top-five ranking for work environment pulled Nebraska into the overall top 10 for the first time.

Utah

Like Nebraska, Utah has a below-average rate of income, but makes up for it with a low cost of living and low unemployment.
Combined with an above-average score for work environment, Utah earned a top-10 placing for the second year in a row.

Kansas

The story for Kansas is very similar to Utah’s: Income may be below average, but a low cost of living and unemployment rate make up for that, while an above-average ranking for its work environment provides an additional benefit.
This all added up to give Kansas its first appearance in the top 10.

Oklahoma

Once again, the pattern is repeated: A low cost of living and a strong job market help make up for a below-average income. Oklahoma gets added help from a top-10 ranking for its work environment. This is Oklahoma’s first appearance in the top 10.
The last four states above present an important reminder for job seekers: Income levels can be deceiving if you don’t take into account the cost of living. State tax rates can also be an important swing factor in evaluating a job offer in one location vs. another.
Given all the challenges facing American workers in this persistently sluggish economy, it may be encouraging to know that there are some places where employment conditions are just a bit better. The 10 states above may be ideal places to start looking for those better conditions.

Artical From:- mint.com

Are Bit coins a Sound Investment?

The world of finance, until recently, has been a hazy mystery to me. So many variables, so many things to comprehend that always kept fluctuating like the ups and downs of the stock market.
A major component to understanding the world of finance is being current on your financial news. If you’ve been doing that properly then you’ve certainly heard of the sporadic and provocative nature of Bitcoin.
If you’re not familiar with the digital currency, brace yourself, there is a lot to comprehend. While Bitcoin is not the first currency of its kind, it’s the first time an online currency of this type has gained so much media attention.

What are Bitcoins?

Bitcoin is a digital currency that was created by Satoshi Nakamoto, although most believe that’s just a pseudonym for the man, woman, or group of people who created it.
The New Yorker reported Nakamoto was completely unheard of before the launch of Bitcoin, but made numerous posts throughout 2010 about the currency in perfect English using an untraceable website and email until vanishing.
Bitcoin was launched on January 3, 2009, as  a decentralized form of currency treated like a digital natural resource. There are 21 million bitcoins in total, and approximately half of them are in circulation right now.
The rate at which they are released is controlled through “mining.” After an extremely complex algorithm is cracked through a program, 50 more bitcoins are released into the market. This is a very brief summary of a very intricate process, and I’m certainly glossing over important aspects of a bigger picture.
If you’re a visual learner, this infographic breaks down the Bitcoin purchase process pretty well, or if videos are your thing, this short video provides an easy-to-digest summary of the currency.

What Can You Do with Bitcoins?

At the start and initial rise of Bitcoin, as the previous video references, most purchases were made on the “Dark Web.” Through a program called Tor, users could remain anonymous and purchase narcotics (amongst many other things) with it, but not all of the spending was bad.
Once Bitcoin started getting used more and more, exchange rates to country’s currencies were included with it and it began to gain some ground.
Now that it’s gained more users and attention, many are jumping on the Bitcoin bandwagon: the publishing program for the Quicken Loans Zing Blog, WordPress, accepts it as payment and certain businesses allow it as its exchange rate has become more comprehensive.
Bitcoinstore.com, as the title would suggest, allows users to buy a number of electronic goods and other products exclusively through the digital dollars. Additionally, one early user of Bitcoin pays his attorney, landlord and virtually everyone else with it.
Can it be used at a McDonald’s or 7-11? Not right now, but vendors and merchants are beginning to accept it as a nation-less currency more and more.

Is Bitcoin a Sound Investment?

The short answer is: it depends on who you ask. The whole reason Bitcoin has garnered so much media attention over the past couple of months is due to its rising stock prices. It kept this attention because the Bitcoin market crashed last week, halving its value in just six hours.
At the time this article was written, Bitcoin’s shares were hovering above $63 USD, but they’ve been as high as $260 a share.
The recent bubble burst on the share price has left many wondering if Bitcoin is just a fad, a flash-in-the-pan experiment, but Bitcoin supporters are encouraging other investors to hold on to their shares and ride this out via sites like Reddit.
Since the crash happened, the divide between enthusiastic supporters and critics of Bitcoin have only become more vocal: opposers say the crash shows that Bitcoin is unstable in nature and is not a viable currency, while followers say as long as shareholders stay with it and don’t cash out at the first sign of the market dipping, then there’s a chance Bitcoin can be treated as a legitimate currency.
Perhaps the most prominent investors in Bitcoin have been the Winklevoss twins, Olympic rowers and the men who sued Mark Zuckerberg after he allegedly stole the idea for Facebook from them.
The twins claim to own 1% of all Bitcoins, valued at $11 million (at the time the source article was written). Their involvement adds a certain prestige to the volatile image Bitcoin has, but much like the early days of Facebook, no one knows if this thing is going to succeed.
If you do decide to invest in Bitcoin, best of luck. There is still half of the Bitcoin market left to be mined but the competition and risks are still there. The market is in a sort of transitional period, where it seems that the success and longevity of the “coins” will be determined in the next couple of weeks or months.
In either case, if you’re considering investing in this grand experiment, do your research thoroughly before you do.

Artical By:- mint.com