Before you set off on a memorable vacation you will probably read up on the cultural differences of your destination, and other local information to avoid falling into traps of offending locals by dressing inappropriately, or being taken advantage of when you don’t know which street vendors are legitimate.

However, there are also plenty of traps when travelling which are harder to spot.  You’ll need some good money advice to help you avoid money traps while away from home, because you can find yourself over budget, out of cash and struggling to get out.

So here is some money advice for you while vacationing – avoid these traps:

Trap 1 – Expensive Tourist Restaurants

When you are traveling it is easy to be caught up in the tourist spots. You are probably staying in a hotel, in the heart of the city or near main attractions, you will find yourself in the heart of the tourist district, where restaurants and cafe are often more expensive than in other areas.

Instead of falling into the tourist trap of expensive essentials such as going out to eat:

• Have breakfast included in your hotel room. Many hotels will offer breakfast specials included with your room charge for much less than you would spend if you went out – that’s one meal you don’t have to fork out for.
• Eat at a fancy local restaurant for lunch. It is great to discover the local cuisine of the region so book a table for lunch in a local restaurant, where meals are often cheaper.
• Ask the locals, or the hotel staff. Find out where the tourist trap isn’t set and ask the locals about good, affordable restaurants, you may have to travel a bit further, but the walk can mean you experience more of your holiday destination.
• Go to the supermarket. Going to the supermarket while on holiday can be an adventure in itself and you’ll be up close and personal with the locals, their food and their customs while you stock up on snacks, drinks and even the makings of dinner.

Trap 2 – Expensive souvenirs

You want some sort of memento from your trip and of course gifts for friends and family back home, but to avoid the trap of spending your holiday budget on expensive souvenirs:

• Know the exchange rate. This will help you calculate whether your purchase is good value for what it is, based on its true cost to you.
• Is it really a souvenir? Before you purchase an item, consider whether it is really indicative of your trip, or whether it is something you could get at home cheaper, or even worse – if it is a cheap and poorly made souvenir which is aimed at targeting tourists making impulse purchases. Instead, make your souvenirs count, and look for something which really represents your trip.
• Limit the number – and the weight – of souvenirs. Remember that you will have to pay to take your purchases home again if they exceed your baggage weight limits so even a souvenir which seemed affordable when you bought it, could cost you later on.
• Shop duty free. Don’t forget about the duty free shop at the airport where you can shop tax free and buy great gifts of pampering skin care, perfume or alcohol, for family and friends.

Trap 3 – Add Ons

When you travel it is always good to have a plan, but you don’t need to plan every day and every minute of your trip. Therefore, be aware of travel agents who will encourage you to add tours and excursions on your travel package because these can add thousands of dollars to your travel budget, and may not be the best value.

Consider whether the add-on excursions are things you want to be doing, and things which are unique to the area you are travelling to, for example look for cooking classes or tours which are not normally open to the public.

Also consider whether you need to join (and pay for) a tour to enjoy the experience, for example you don’t need to be part of a group to do a walking tour of the city, or hire a vesper to see the sights.

Trap 4 – Not Budgeting

When you travel you need to make sure you have budgeted for every part of your trip from the time you leave home to the time you arrive back.

Knowing how much you have to spend before you leave can help you avoid overspending when you arrive at your destination, and can help you avoid a spending hangover when you return home, and back to the real world of bills and responsibilities.

Deduct your necessities such as flights, accommodation and insurance from your travel savings and then stick to spending only what you have left. Also be sure to have an emergency fund so you know you have enough money for a taxi to the airport or for the insurance excess if you need emergency treatments or have your bag stolen.

To make budgeting easier while you are away, use your credit or debit card because you will be able to view your transactions online with Internet banking at an Internet cafe or on your smart phone, and using a card is cheaper than using travellers’ cheques in most cases.

Plus, with your credit card, if you purchase your flights and accommodation on the card, you and your whole family can often be covered by international and domestic travel insurance.

Trap 5 – Being Unprepared

When you travel you want to relax, and enjoy going with the flow away from your everyday life, however you can still be prepared, and this will save you money.

When you are prepared, you can plan your spending more easily because you will know where you are staying, which meals are included, and therefore how many meals you will need to pay for over the course of the trip.

You can then look at where your hotel is in relation to restaurants and supermarkets to research local meal prices and inclusions.

In pinpointing your location on a map you can also plan where you are going and when you need to be there to meet tour times or general admission times to attractions. This is your chance to learn about the public transport system so you can avoid expensive taxi rides.

Trap 6 – Being too spontaneous

It is fun to be spontaneous sometimes, but it is a common travel trap which many people fall into, because if you leave your flights, accommodation and tour books to the last minute, you could be paying a premium.

When you book in advance you also have more flexibility with dates which can save you money too. For example, if you are travelling to Monza in September but are not interested in the Grand Prix, you can avoid those dates and therefore avoid the highly inflated accommodation and travel costs which surround such a big event.

At the same time, be prepared to negotiate prices closer to your departure date to save you more money, because things like hire cars are often cheaper at the last minute, and don’t charge cancellation fees.

Also aim to book online if you can to save even more, and it’s also easier to find inclusive packages, but make sure the inclusions are ones you actually want and need.

Travelling can be dangerous and it can be expensive, but if you know the common traps which ensnare the unwary tourist, you can make your way through any travel destination with money in your pocket for the trip home.

This has been a guest post by Alban, who is a personal finance writer. He helps people to save money and compare the best refinancing loans.

When it comes to earning interest from cash products, Certificate of Deposits or CDs, are often considered a good choice. However, most CD interest rates are not offering terribly high yields right now.

It’s just the nature of any cash product.

You exchange safety for the potential for higher yields. It is possible, though, to boost your CD interest rates.

There are some high yield CD options that can help you get a little more bang for your buck, let’s take a look at a few of them:

High Yield CDs

These are your basic CDs, but with higher yields.

These CDs are most often found at online banks, so you can head to the Internet to look for them. You can also try a local bank or credit union, since these institutions may be running special deals.

It is also possible to enjoy higher yields on CDs that you get for longer periods of time, or for higher amounts. A 5-year CD with $15,000 will earn a higher yield than a 3-year CD with $4,000. High yield CDs provide a little more in terms of return than you might find otherwise.

Callable CDs

These are interesting CDs that might offer you a higher CD interest rate, but at the cost of the bank being able to call the CD back within a certain period of time.

You are offered a higher rate, but the bank will have the option to take back the CD after a certain term.

Some banks will offer a very high rate on a 5-year CD, and guarantee it for six months, or even a year. But, after that initial call protection period is up, the institution can recall the CD.

You get your principal back, and any interest you have earned to that point, but your high yield goes away. Banks use callable CDs as a way to get you interested, and then take advantage of the market if interest rates drop.

They call in the CD, and then you have to get a new CD — one with a lower interest rate.

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Brokerage CDs

Brokers also sell CDs. They get large issue CDs from financial institutions, and then break them down into smaller pieces that can be sold to investors.

Financial planners and brokers can also help you shop around for higher CD interest rates. Brokerage CDs often come with higher yields than more traditional CDs.

However, you do have to be careful. In some cases, you might have to pay a fee as part of the transaction, or fees charged on assets under management may cut into your returns. You also have to check to make sure your CD is FDIC insured, since not all brokerage CDs are.

Another option related to brokerage CDs is the secondary market. It is possible to buy and sell CDs much as you would fixed income investments. However, you run the risk of losing money in these cases, and your CD is probably not insured.

Bump Up CDs

These interesting CDs offer the option of taking advantage of a higher interest rates later on. You have a fixed term for your CD rate, and if interest rates rise, you have the option of “bumping up” your CD rate to that higher rate when the current term ends.

Basically, you have the option of enjoying a higher CD rates on a new issue if you have a bump up. Since the bump up doesn’t take place until after the original CD’s term ends, you will need to choose quite carefully.

Bottom Line

There are CD products out there that offer higher interest rates. They still may not be the types of returns you can potentially get from stocks (or even bonds), but high yield CD options can help you get a little more for your cash.

Plus, with the right CD products, you can more effectively preserve your capital, and maybe even protect — at least a little bit — against inflation.

This has been a guest post by Nathan Richardson, Managing Editor and Founder of ComplexSearch, Nathan enjoys blogging and helping consumers save money.

This is a guest post by Garrett Driscoll from Debt Eagle. Visit his site if you are having credit card debt problems, need advice on settling, or are considering bankruptcy.

Filing for bankrupcty can sometimesbe the best bet for someone with unpayable credit card balances.

A credit card bankruptcy can lower monthly expenses, stop interest from accruing, and give you time to restructure your debt without fear of legal repercussions. The credit card bankruptcy process can give financial relief, but does come at the expense of your credit and your assets.

When you file for bankruptcy your credit will be affected for a span of 7 to 10 years. This might make it more difficult to borrow money, rent a home, or even get a job.

You may lose certain assets to your creditors, but if you are facing credit card debt that is no longer manageable, it still might be the best move.

A few years ago it was much easier to eliminate credit card debt through a chapter 7 bankruptcy. But in 2005, the Bankruptcy Abuse Prevention Act was passed and made it more difficult to charge off credit card debt and other unsecured debts.

Chapter 7 can be a good option for someone with minimal assets to protect from a liquidation (i.e. home, car). It can give debtors a fresh start, but will still leave a big ding on their credit reports. After a chapter 7 filing, a debtor’s assets are liquidated by a judge and the proceeds are divided among the creditors.

After the assets are sold and the proceeds doled out, a debtor would be completely debt free. But since the 2005 law, any monthly income that exceeds $100/mo. will disqualify a debtor from filing Chapter 7.

The courts will conduct a “means test” to determine what your expendable monthly income is. If you have over $100 or more in extra income per month, you would not be able to completely discharge your debts through chapter 7 and would only be able to set up a repayment program through chapter 13.

Can a credit card company stop my bankruptcy?

When a bankruptcy goes to court, a credit card company may try and stop the discharge of debt by filing an “adversary proceeding”. Usually this is due to instances of fraud.

The company might claim that a debtor applied for a card with false info or that they made charges without any intent of repayment.

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If a person made a large amount of charges after they sought help from a Bankruptcy Attorney, or there was an indication that the they made charges with the intent to dismiss them in court, your judge might consider the creditors side.

But, once the bankruptcy is finalized, you may not be sued over these debts.

Can Chapter 13 bankruptcy help with credit card debt?

With chapter 13 bankruptcy (AKA: wage earner’s bankruptcy) you are allowed to keep certain assets (house, car, etc.), while making a reduced payment to your creditors.

This type of proceeding allows people with an income (of $100/mo or more), to create a repayment plan over a typical period of 3-5 years.

A Chapter 13 filing can stop foreclosure for a period of time and can allow the debtor to catch up on delinquent mortgage payments.

Another important thing about chapter 13, with regard to credit card debt, is that interest will stop accruing. The interest on your credit card balances will come to a halt and you can begin to repay the outstanding debt.

This means that there are no more balance increases after you file for bankruptcy. Sometimes dealing with this debt through bankruptcy can be easier than with non-consumer friendly terms on many of these cards.

Once you have a repayment plan in place, a trustee is appointed by the courts to make payments to these creditors on your behalf. All of the creditors are paid by the trustee out of one single monthly payment made by the debtor.

Is bankruptcy expensive?

The court filing of the chapter 7 and chapter 13 paperwork costs around $300, but this does not include the price of a lawyer.

Internet consensus puts the entire package of a bankruptcy (legal help included) at at around $1000-$3000, but the price will vary depending on your lawyer and type bankruptcy you are filing.

You may be able to get a slight break, if you can negotiate installments to pay your legal fees. But if you are able to get rid of alot of debt, that bankruptcy can pay for itself.

Counseling before bankruptcy

The 2005 Bankruptcy laws also state that any individual seeking bankruptcy, must receive mandatory credit counseling. This applies to both chapter 7 and chapter 13.

This counseling must be sought through a government approved company within the 6 month period before the filing. The debtor must also complete debt education classes in order to have their debts dismissed.

Usually these courses can be very beneficial and help debtors understand the ins and outs of the bankruptcy process before they file.

This is important because these are complex financial actions and can seriously affect the filees future. The more knowledge you can gain about this process, the more prepared you will be.

Note from Jason: Bankruptcy has grown in popularity in recent times.  In my opinion, you should never rush into bankruptcy and it should almost always be a last resort after careful and prayerful consideration.  A heartcheck regarding your motivations for bankruptcy is wise also.  Everyone’s situation is different, so make sure you take a full inventory of your options before a bankruptcy is considered.  Check out this Credit Card Payoff Calculator to give you an idea of how long it will take to pay off your debt.

If you designed the world of personal investing from the ground up, you’d have a very different experience than what we have now.

Modern personal investing came long after what I would call “institutional investing” and “broker-only investing”.

When it came time to offer investing to the common man, the investment firms of the day got to create it, not the individual.

Today I’m going to pick on a few things that I see as problems in the modern personal investing world.

Lack of Control with Personal Investing

The 401K is a great tool. Since it’s creation in 1980, it’s put the power of retirement savings into the hands of the individual.

However, there is a lack of control which still exists that says, “we’ll make it simple and safe for you.” Translation: we’ll give you 5 to 10 investment choices and they’ll all have high expense ratios.

Not good.

And employers went along with this because the investment firms were creating the system. There needs to be far greater control in the employer sponsored retirement plan area.

After all, this is where the vast majority of people are savings for retirement. You’d think that all those people would demand better control, giving them better choice. But it just hasn’t happened.

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Too Much Information

Investing should be simple. Keep costs down, have a long-term mindset, use tax-advantaged accounts when available, and create a diverse mix of investments that meets your own risk tolerance.

But when you turn on Fox Business Channel, or flip through the Money section of your local newspaper, or when you pass the magazine rack, you get the feeling that everyone is a gosh darn day trader except you.

Why is there so much information? Because it sells. The simple investing concepts don’t sell magazines or attract advertisers.

Plus, brokers and mutual fund companies need this overload of information to keep people trading, to keep volumes high, which fattens their wallets with commission checks.

Not Enough Focus on Expenses in Personal Investing

Finally, there is a lack of knowledge and transparency about investment costs. Sure, you can see a few percentages on a prospectus. But what does that really tell you?

We need to see actual costs clearly spelled out on statements and I want to see my expenses when I log into my account online.

What’s wrong with putting the pricing up on the virtual wall for everyone to see? Other industries do it. It’s about time we see the reality of what’s going on. John C. Bogle said, “On balance, the financial system subtracts value from society”. Well, I say enough already.

It’s not all negative. Personal investing has come a long way, and we’re starting to see some of these bad habits being broken. Companies like Brightscope and Vanguard are leading the way. But ultimately, we the individual are going to have to create change with our pocketbooks.

What do you see as a problem in modern day investing? How would you change things?

This post comes from PT of PT Money: Personal Finance. Learn more about investing and see a list of the best online stock brokers on his blog.

It would be a very rare thing to find a Christian that does not think that we should help the poor.

However, there are many different opinions amongst Christians about whose responsibility it is to help the poor.

Yes, all Christians have a responsibility to be compassionate, caring, and always ready to help those in need but from an administrative or corporate standpoint is it the government’s responsibility to help the poor?  Is it the church’s responsibility?  What about businesses?  Do employers have a responsibility to help the poor?

Let’s take a look at some different Bible verses that illustrate some of the roles that God has designed for helping the poor and then please chime in via the comments below.

The Proper Motivation for Helping the Poor

Christian’s should have the attitude of wanting to help everyone as much as they are able to.

Philippians 2:3 states that Christians should, “Do nothing from selfishness or empty conceit, but with humility of mind regard one another as more important than yourselves;” (NASB) Two things stand out to me:

A) Proper Perspective – We should esteem others as being better than ourselves. This is not something that we can apply selectively (James 2).

When we see someone holding a sign on the side of the road asking for money do we immediately think to ourselves that we are better than them?

How would we wish to be treated if that was us on the side of the road holding the sign?

B) Proper Attitude – No doubt many people make charitable contributions of very substantial amounts and their motivation for doing so is not to sincerely help others or to be obedient to Christ’s commands but rather to puff themselves up in a selfish or conceited manner.

Prioritizing Helping the Poor

Given that Christian’s should help the poor as much as they are able to – in fact, Proverbs 21:13 says that, “Whoever stops his ears at the cry of the poor, he also shall cry himself, but shall not be heard.” (NKJV), we are also faced with the fact that we will always have the poor with us (Mark 14:7) and given that we also have limited resources which we are to use wisely as good stewards of all that God has entrusted to us (as illustrated in Jesus’ “Parable of the Talents” in Matthew 25:14-30; Luke 19:12-28) the question becomes who should we help and how?

There are people all around us that could use help but where do we start?

Apart from our individual responsibility to help the poor how should we corporately set initiatives to help the poor as efficiently as possible?

The Employer’s Biblical Responsibility to Help the Poor

In Leviticus 23:22 the Bible has a command directed specifically to employers/land owners/business owners concerning how the poor should be treated:

And when you reap the harvest of your land, you shall not make clean riddance of the corners of your field when you reap, neither shall you gather any gleaning of your harvest: you shall leave them to the poor, and to the stranger: I am the LORD your God. (NKJV)

Some important thoughts about this verse:

A) God did not command employers to harvest the entire field and then give a certain percentage to the poor – rather He commanded that land owners would purposefully leave some of the land unharvested (i.e. the corners) and leave some of the spillovers still on the ground (i.e. the “gleanings”) so that any of the poor that wished to could come and harvest the extras for themselves (i.e. they had to work for it themselves).

This is an important distinction because where many social programs go awry is that things are given to the poor without requiring any work from the poor.

This is in accordance with II Thessalonians 3:10 that states, “For even when we were with you, we used to give you this order: if anyone is not willing to work, then he is not to eat, either.” (NASB)

Notice that the phrase “willing to work” is used which I believe shows that of course some people are physically unable to work and we should show charity on them and give to them regardless.

B) God did not command the government or even the church to step in and force the employers to pay a certain percentage of money to the government (i.e. a tax) or to the church (i.e. an offering) so that the church or the government could then take that money and turn around and redistribute that many however they deemed best.

God specifically commanded employers to take the responsibility for allowing those who are poor and willing to work an opportunity to work for food.

The Church’s Biblical Responsibility to Help the Poor

In James 1:27 the Bible gives the definition of what true “religion” looks like: “Pure religion and undefiled before God and the Father is this, To visit the fatherless and widows in their affliction, and to keep himself unspotted from the world.” (NKJV)

Granted many religious groups get this right but mistake religion as something that saves while ignoring Ephesians 2:8,9 which states that,

For by grace are you saved through faith; and that not of yourselves: it is the gift of God: Not of works, lest any man should boast. (NKJV)

Clearly salvation is not something that can be earned but is rather a free gift of God that can be received by faith in Jesus Christ.

Once saved by faith should Christians simply ignore the poor?

No!

This is when Christians are commanded to demonstrate what this”pure religion” looks like.

The Government’s Biblical Responsibility to Help the Poor

In Romans 13:1-6 the Bible clearly demonstrates how Christians should be obedient to the government and that it is God that has put the government in place (and that God directs the heart of the King just like the rivers of water in whatever direction that God wills – Proverbs 21:1).

Punishing bad behavior like murdering and condoning good behavior like helping the poor is the Biblical role of government.

However, is it possible for the government to steal from it’s people? Can the government overreach it’s God given role over it’s people or is the government freely able to take what it pleases and act as if “The State is the march of God through the world…” (Georg Wilhelm Friedrich Hegel in Hegel’s Philosophy of Right: The State)?

According to the story of Naboth’s vineyard in I Kings 21 when King Ahab could not get the property that he wanted from Naboth then he unjustly accused Naboth, had him killed, and then took his property the government can commit theft and murder – even when a government’s action is in full accordance with it’s own laws.

Hegel’s philosophy of the government’s role is diametrically opposed to the true and right Biblical role of government.

God moves the hearts of government officials as He sees fit but God has not designed for government the role of taking from it’s citizens and redistributing back to it’s citizens as the government sees fit – even when it is for worthy causes such as helping the poor.

A trap that is easy to fall into for many Christians with their hearts in the right place is to immediately back any government program that is marketed as being designed to help the poor when in fact the Biblical role of government is not to take the lead in helping the poor but rather it is the responsibility of Christians individually, Christians corporately through their church and other parachurch organizations, and employers.

What do YOU Think?

Are employer’s today fulfilling their Biblical role in helping the poor?

What should the government’s Biblical role be in helping the poor?

Is the church fulfilling their Biblical role in helping the poor?

Are you fulfilling your Biblical role in helping the poor?

Author Bio:Joel Ohman is a Christian Certified Financial Planner™ and the founder of 4 different companies that have a focus on consumer personal finance websites including a website for comparing credit cards, doing car insurance comparisons, and searching for insurance quotes.

Questions for First Time Home Buyers

Don’t put one of the biggest financial decisions of your life at jeopardy by getting the wrong advice when finding a first time home buyer loan.

For many first home buyers, this can waste both time and money as they end up choosing the wrong loan for their hard earned deposit.

This guide will provide valuable information on finding the deposit for your loan and how to choose the best first time home buyer loan available.

How Much of a Deposit Do You Need for Your First Time Home Buyer Loan?

With so many first time home buyer loans available, there are even options for buyers with no deposit!

Despite this, with a bigger deposit you can take advantage of a greater selection of first time home buyer loans and find the most competitive interest rate while reducing the start-up fees.

Put more money down and you can receive lower interest as the provider does not have as much at stake and recognizes you as a low-risk customer.

Working hard to build up a good deposit can also let you avoid Private Mortgage Insurance or PMI.

Many lenders will insist that customers take out mortgage insurance if their deposit is less than 20% of the purchase price.

For first home buyers this can add up quickly, with insurance often costing up to 2% of the loan.

To put this in perspective if you were to take out a loan of $250,000 you could potentially be forced to pay a whopping $5,000!

Many lenders will make an exception for first home buyers as they realize the difficulty of saving for a 20% deposit and will offer first time home buyer loans up to 95% of the property value.

This has resulted in a high number of competitive 95% loans on offer with great features for first home buyers.

By being offered a greater selection of first time home buyer loans and being given the ability to take luxury in more competitive interest rates and features, buyers with a 20% deposit are generally in a better position than those without a deposit to offer.

However, with good first time home buyer loans on offer for those with smaller deposits saved, you can still find a loan with the right features to help you make the transition from renting to buying.

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How Do You Find the Best First Time Home Buyer Loan?

While it may be tempting to base your loan decision on the interest rate alone, it’s vital that you also take into the consideration the different features for each loan based on your unique financial situation and goals.

By not taking advantage of the right features, you can easily pay far more than is necessary.  This generally comes down to weighing up the interest rate and the flexibility of the options available.

Every first home buyer should consider these questions when comparing different first time home buyer loan options:

• What are my first home goals?
• What are my spending habits?
• Am I capable of budgeting?
• Am I eligible for the first home owners grant?
• How might my stream of income change in years ahead?
• Will I be able to manage a loan with ongoing fees?
• What are the exit fees of this loan?
• Does this loan offer portability?
• Does the loan offer redraw facility?
• If ahead in repayments, can I stop making deposits for period of time?
• Can I see myself moving in the next 5-10 years?

Your answers to these questions can greatly influence the loan you decide to go with.

Your first time home buyer loan should save you both time and money but also offer flexible options to ensure you aren’t struggling to make repayments down the track.

How Do You Choose the Right First Time Home Buyer Loan?

Comparing first time home buyer loans on the market can often seem overwhelming with many buyers unsure as to what loans will let them take advantage of a good interest rate while still giving the right features for their home loan needs.

You can make the process much easier by following these three simple steps:

1. Decide what your loan should offer based on the questions above.
2. Find the products on offer from the different providers that meet your criteria and create a shortlist.
3. Once you have your selection of first time home buyer loans, examine each one closely to make your final decision. Don’t be afraid to do extra research and seek advice. Remember this is one of the most important decisions you will ever make.

By following these three steps you can find the best first time home buyer loan for your specific needs. The loan you decide to go with should help you achieve both your short and long term goals.

With thousands of first time home buyer loans available, the hardest part is sorting through all of the competitive deals to find what is best for you.

Reward yourself now and in years ahead by following the necessary steps to get the best first time home buyer loan possible.

This has been a guest post by Fred, who is a personal finance writer. He provides budgeting tips and helps people to choose the best first home buyer home loans online.

Do Credit Card Balance Transfers Make Sense for You?

Do you own several credit cards from different providers?

Do these cards have high interest rates and are you carrying loads of debt?

If you answered yes then more likely than not you are having a hard time trying to juggle payments and organize a solid payback plan.

This scenario sounds all too familiar for many people and can be incredibly stressful for those involved.

If you are having difficulties with your current cards then one of your options can be credit card balance transfers to a provider that has a lower interest rate.

The benefit to this is that you hopefully you reduce the amount of interest you are paying and give yourself a more manageable payment.

You can use this handy Credit Card Payoff Calculator to determine your new payment and how long it will take to climb out of debt!

How to Initiate Credit Card Balance Transfers

The first step to successful credit card balance transfers is to find a company that offers a low interest rate.

There are several options available to you and a good place to start looking is on the Internet, many websites provide a comparison chart that lists the pros and cons of each credit card.

Jason here – I suggest calling your current card companies first and letting them know you are interested in a balance transfer deal and see what they can do for you.

They might be willing (or have some promotions going on) to negotiate to keep your business.

Or, for instance, if you go to the corporate website of the provider you may find a list of their best credit card deals currently on offer.

Remember to find out as much information relating to balance transfers as you can.

Questions to Ask About Credit Card Balance Transfers

Here’s a few questions you’ll want to find out before you initiate your credit card balance transfers:

• Is there an introductory rate and if so how long does it last?
• When this introductory rate ends, what is the new increased rate?
• Is there a fee for balance transfers?
• Is there an annual card fee?

You might be able to find some zero percent balance transfer deals out there.

Try to find more than one good deal on balance transfers, as the next step is to apply to the credit card companies and you are not always guaranteed approval.

You will have to go for companies that you’ve never used in the past; many credit card providers will automatically refuse applicants that already have a card with them.

Once you’ve successfully completed your credit card balance transfers, moved the balances of all of your current credit card accounts into one, then stop using the old cards or cut them up - you’re now on your way to paying off your credit cards!

Choosing a credit card provider with a good balance transfer rate can be frustrating, so here are a couple I have used in the past from a well known company, but at the end of the day – do your own research!

Different cards are right for different people.

1. MBNA Platinum Plus Amex card.
2. MBNA Rate for Life card.

This has been a guest post by Sandra from Thinking Money - a site designed for getting free financial advice and ideas on how to save and make money.

If you missed the tax deadline and have tax returns that have not been filed, it is imperative you address the situation immediately to avoid continued problems with the Internal Revenue Service.

While the reasons for not filing taxes are certainly important, at this stage of the game your focus should be on how you can resolve this situation, not make key tax mistakes, move forward and get back tax help.

In many cases people convince themselves that if they have not yet heard anything regarding IRS back taxes, they have somehow caught a free pass.

It is dangerous to convince yourself of this as one day they will surely contact you regarding what you owe the IRS and tax returns that have not been filed.

To avoid the additional stress and worry of when that day will occur, take the necessary steps now to get back taxes help and get your IRS back taxes in order.

Here we look at how you can get the process started and why it is important to get back taxes help and file IRS back taxes.

The Process of Filing IRS Back Taxes

Gather Documentation

If organization is not one of your key strengths, you may encounter difficulty when gathering the necessary documents to file back taxes.

Depending on how much time has passed since you last filed your tax return, the information may be have been misplaced or absent all together.

If this is the case, you can request the necessary documents from your employer or from the IRS directly.

Specifically you will be looking for your last filed tax return as well as W-2′s or 1099s from the year(s) in question.

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Preparing the Return

Once you have all the documentation needed to file the return, you must decide whether you want to hire a tax professional or attempt to prepare the return on your own.

While there are many software products available to assist in do-it-yourself tax preparation, this might be one case where you are better served by enlisting the help of a professional trained in tax preparation and IRS back taxes.

Tax laws are continually changing and it is important to be up-to-date on these laws to ensure your taxes are filed correctly and with the most eligible deductions and credits applied.

This will have a significant impact on whether or not you receive a refund or owe IRS back taxes.

File the Return

Whether you end up owing IRS back taxes or anticipating a refund, the next step is filing the tax return.

You can submit your tax return to the normal address provided by the IRS for filing tax returns.

If you have been contacted by the IRS regarding back taxes, they may have provided an alternative address to submit back tax returns.

As always, make sure you have a copy of the full return as well as any supporting documentation to keep for your records.

Why it is Important to File IRS Back Taxes

By taking the steps necessary to file IRS back taxes you can eliminate the stress and worry of waiting for the IRS to contact you regarding back taxes.

If you think that won’t happen, think again because despite the slow moving IRS system, they will in fact catch up with you at some point in time.

During that time, penalties and interest on any taxes owed will continue to accrue, resulting in an even larger tax liability for which you will be responsible.

Unpaid tax bills can result in a tax lien or levy on wages and other assets, therefore it is imperative you cut this problem off at the pass to protect your home and property in the future.

This has been a guest post by  Backtaxeshelp.com, a site designed to help you pay back taxes. Owing back taxes to the IRS is stressful, and negligence will only worsen the situation. Learn how to get back tax relief.

With the IRS tax deadline of April 15th on the horizon, procrastination may actually turn out to be a good thing for some taxpayers who have not filed yet.

You may want to file for a tax extension if you are trying to claim a home-buyer tax credit this year, you want to reverse a Traditional IRA to Roth IRA conversion, you have not received certain tax documents, or something major has come up in your personal life.

Fortunately, the IRS provides automatic six-month extensions from the IRS tax deadline, which gives taxpayers until October 15th to file.

It is important to understand that this is not an extension to pay, as the IRS usually needs 90% of your actual taxes owed by the tax filing deadline of April 15th.

If you do not request an extension of the IRS tax deadline and you file late, you will be hit with a Failure to File Penalty of 5% per month (up to 25%) on any unpaid taxes.

When Is It Warranted to File a Tax Extension

Claiming A Home Buyer Tax Credit

We all know about the home-buyer tax credit that Congress extended with the ARRA or the American Recovery and Reinvestment Act of 2009.

This act allows a taxpayer to purchase a home and receive a tax credit up to $8,000 dollars ($4,000 if married and filing separately).  

However, you need to purchase by April 30th, 2010 (or have a signed contract by then with a closing before July 1st) and this credit starts to phase out once you hit a certain income level.

Therefore, if you will have a signed contract by April 30th or you plan on completing the purchase of a home on or before April 30th, requesting an extension from the tax filing deadline is warranted in order to claim this tax credit on your 2009 tax return.

If you have filed already, you can amend your tax return if you really need the credit in 2009, otherwise, you can just claim it on your 2010 tax return.

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Reversing A Traditional IRA to Roth Conversion

If you converted a Traditional IRA to a Roth IRA in 2009, you will owe taxes this year on the conversion since the Traditional IRA was funded with pre-tax dollars.

However, if your IRA significantly lost value (which happened to many in 2009) since the conversion, you would be paying taxes on money that is not there anymore.

Therefore, you may way to “recharacterize” or reverse this conversion and you have until October 15th, 2010 if you converted your Traditional IRA in 2009.

If you have already filed your tax return, and you want to recharacterize your IRA conversion, you will have to amend your tax return. 

However, if you have not filed yet, you can file for a tax extension from the tax filing deadline, which will give you plenty of time to recharacterize and file.

You Have Not Received Necessary Tax Documentation

W-2s, 1099s, and other documents are often misplaced, lost, or never received. If you have not called your employer for your missing W-2, or your financial institution for your missing 1099(s), then you need to do that.

You could file for a tax extension, if you believe you will have these tax documents by October 15th, 2010. On the other hand, you could file by April 15th by using Form 4852, “Substitute for Form W-2,” to help estimate your earnings and withholdings using pay stubs and other information.

If the numbers you estimated were off, you will need to amend your tax return using Form 1040x. This can be a hassle, where it might have been just easier to just file for a tax extension in the first place.

Personal Events

If you’re up against the tax filing deadline because of personal issues, you may also want to file for a tax extension.  Maybe you are suffering from a sickness, a loss in the family, a natural disaster and so forth.

The IRS does not care why you need a tax extension. Tax extensions are automatic.

How To File for a Tax Extension

Basically, there are three easy ways you can request a tax extension. You need to request this extension by April 15, 2010.

• Read, print, and fill out Form 4868, and send it to the correct IRS address for your state (on page 4 of form)
• eFile Form 4868 using IRS e-File or use a software program like TurboTax or Tax Cut
• Pay all or some of your estimated taxes due with a credit card or debit card (not recommended just to request an extension)

When filing for your tax extension, it is a good idea to send the IRS at least 90% of what you actually owe.

Form 4868 has a nice worksheet you can use to estimate taxes owed. Remember, even though you may have an extension to file, this is not an extension to pay.

This has been a guest post by Matt Robinson.  Matt is tax accountant who specializes in tax debt settlement and other tax debt solutions.

In 2 Cor. 6: 14 (NIV), Paul states: “Do not be yoked together with unbelievers.  For what do righteousness and wickedness have in common?  Or what fellowship can light have with darkness?”  

God wants Believers to be “equally yoked” and not “unequally yoked” with unbelievers.   But does this apply to Christian business?

Unfortunately, many Christians think this verse only pertains to finding a marriage partner and then form business partnerships with the world. 

The Small Business Administration tells us that over 650,000 businesses are started in the US every year.  Of these new businesses, 80% will fail in their first three years and only 9% will make it beyond five years!  

Although it’s impossible to tell, I have to believe that a “few” of these might have been Christian businesses. 

Why Does a Christian Business Fail?

There are a number of answers to this question that will be addressed in coming posts, but the main one we’re addressing here is being “unequally yoked”.  As mentioned above, God wants His people to be “equally yoked” in ALL things, especially involving the stewardship of His resources. 

I’ve watched fellow Christians enter into promising business partnerships with non-believers, only to suffer major loss at a later date.  I thought about these failures for many years and wondered why they had occurred.   As in many things we ponder over time, the answer suddenly “hit me” one day while studying His Word.  The answer was simple. 

In each case, these Christian businesses had been “unequally yoked”.  God had answered my question concerning business failures, but then gave me the inspiration to ask another question.  “Why don’t Christian investors and entrepreneurs to consciously seek each other out?” 

Just as stated in Prov. 13:20 “…iron sharpens iron…”, I believe that Christians helping Christians in the startup stages of a business can help lay a solid foundation resulting in Godly stewardship of all corporate assets. 

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This includes planning, capitalization, budgets, staffing, facilities, products/services development, manufacturing, sales and marketing, distribution, etc.

As a Christian business, we are to obey Him by acknowledging the following:

1 Chron. 29:11 “Everything in the heavens and earth is yours, O Lord”

We know that God will hold us accountable in the stewardship of all of the resources He has given us, large and small. 

How Should a Christian Business Proceed?

As in any major decision, especially involving finances, Christians should only proceed after following these steps:

• Prayer – Seek God’s guidance though daily prayer;
• Studying His Word – John 1:3 “…and the Word was God.”  Allow God to speak to you through His Word.
• Seeking wise counsel – Prov. 12:15 “…But a wise man is he who listens to counsel”.
• Asking a simple question – “Do I see God’s Hand in action?”  Is God opening doors, such as bringing His people into your life as potential partners or by overcoming potential obstacles?

If God has called you to start a business, He has blessed you!  He is there to guide you, equip you, encourage you, and to provide resources you need.  Let Him be your CEO!

He will also form relationships with fellow Believers in terms of co-founders, financiers, suppliers, employees, advisors, mentors, coaches, etc.  When God wants you to succeed and you’re obedient to Him, how can you fail?

This is a guest post by Bill Murray, founder of the Christian Angel Capital Network. We are in the pre-launch stage of an online service that will match Christian angel investors with Christian entrepreneurs. We think of our service as “where eHarmony meets the Sharktank for Christians!”. Our current website is a blog and we welcome all comments, ideas, critique and of course, prayers. Find us at http://christianangelinvestors.com

Side Note From Jason

Readers – what do you think!?  Is business partnership with a non-Christian wrong?  Should Christians view those relationships as opportunities to demonstrate the love of Christ? 

Let’s hear your thoughts!