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Student Credit Report

November 1st, 2007 by Shenron

Credit is one of the most important aspects of financial life and a student credit report can help keep you on track when you are just starting out. It is essential to build your credit right from the start when you start out as a student. It is also important to establish good financial practices. As soon as you get a student credit card to build credit, you should start keeping a look out at your student credit report. From there, you can do the things to make changes if necessary and get a good head start from the beginning.

Establishing a good credit history is the foundation of financial life. When you start out as a student, you might be flooded with offers from every company you can think of, offering you credit cards. All of the major companies want to offer you something and many offer student cards. These are essential credit cards for those people who are just starting out with building credit. The majority of the market is of course students. They may also offer specialized cards through your school. If this is an option, it is something that is certainly worth considering.

Keeping track of your student credit report has a number of advantages. Every time a bill is paid late, a payment is missed, or an overdraft occurs. Every time you apply for credit, it appears on your student credit report. This can occur without you ever knowing about it. A credit card company can make a report if you are even a few hours past what they make as the deadline for late payment, even if you are not charged a fee. By regularly checking your knowledge against your student credit report you can make sure your credit stays as clean as it should be and presents an accurate picture.

Following your student credit report closely also gives you the ability to also know what is going on with you financially and enables you to dispute any abnormality promptly. This allows for less of an impact on your history and score. If you neglect to keep up with things, then you run the risk of letting things get away from you when can have a long term impact on your financial future. It’d be silly to have to live with these consequences when keeping up with it is so easy.

A student credit card in addition to helping you build credit can help you build credit wisely. Many of the companies who offer student cards also offer tips and advice when it comes to managing credit. This is to educate those just coming in the world of credit so that they can establish themselves properly and maintain a good financial profile. Credit card companies who issue credit cards to students may also have special plans and ways to help if a mistake is made so that a minor mistake does not blemish your credit history.

The important thing to do when you are a student and just starting out in establishing your credit is to do research into the various credit card options available and what it takes to make sure that you maintain a good and solid credit history and student credit report. This report will serve as the foundation for your future in establishing anything having to do with credit including your ability to rent or buy a house or buy a car. A student credit card is a good way to establish good financial practices early on and learn how to correctly manage your credit for the future.

Posted in General, Credit Cards, Credit Report | | 0 Comments

5 Ways of Investing Money like a Financial Idiot

August 13th, 2007 by Shenron

Ladies and gentlemen. Welcome to the Investment Airport, where you can fly to the Elysian fields of profit and prosperity. There are many vehicles to choose from, but you must choose wisely. Some flights take off directly to success, while others get delayed. A word of caution here. There are some aircrafts that may not arrive at the destination. It is quite horrible to see these vehicles crash into fiscal demise. As your official airport guide, I am honored to take you around these investment vehicles and see for yourself.

The Lottery

Right this way, ladies and gentlemen, is the Lottery. This multi-million vehicle has independent flight routes in nearly all your home cities and states. In fact, ladies and gents, these flights carry many passengers aboard for only a dollar per ticket. Flying to that multi-million jackpot can give you grand houses, designer clothes, cars, the kids’ college funds, heck, even pay for everybody’s kids. Yes, indeed, this is the easiest way to financial freedom, but you see, sir, here’s the catch. Only a few passengers get to step out of the plane with luck, while the rest of the passengers make a return flight… I’m sorry, sir? Illegal, you say? Of course this flight is all legal! That’s exactly the way it works.

The Casino

If you please, ladies and gentlemen, take a closer look at our most dazzling machine: The Casino. It is no wonder that this is always fully booked every night. How come, you might ask? Well, sir, the whole ambiance is simply very attractive in which to lose money. You see, we have many guests coming from distant places, all lured by the glamour of this machine even with all the playing odds fixed against them. Despite the inevitable machine failure, ladies and gentlemen, this vehicle remains to be the most seductive.

Options and Futures

I’d like to take this opportunity to introduce our most exciting flights. What might I be talking about? Why, it’s the Options and Futures flights! My friend, I hope you can give them a try. A few things you should consider first, of course. These two flights cost a lot. You may need to pay for the amount equal to a large batch of expensive tickets, but the actual number of tickets you will get may only be a fraction of what you paid for. Before you get confused, people, let me explain! Just like in many financial vehicles, there are two ticket prices: the bid and the ask. To get the ticket, you pay the asking price, but the actual value of your ticket is its bid price (lower price). The reason for this difference (called the spread) is that the ticket seller, or the “middleman”, needs to get paid for his work. So he gets to pocket the difference for every ticket you buy. There are only a limited number of tickets and ticket sellers for both Options and Futures flights, ladies and gentlemen. That’s why the price spreads can be 10 percent or even higher for some tickets, and that this flight is indeed expensive.

For those lucky enough to buy the tickets, it is assured that the flight will be very exciting… in fact, too exciting, it seems. The thing about the aircraft, you see, is that it continually spins around in circles. Passengers rise and fall with it in a very volatile manner, so when you want to jump off the aircraft, you’ll need to time your jump perfectly. Very little room for error, my dear friends, if you want your investment to pay off. Anyway, there is always a constant flow of new passengers seeking for a thrill, and I hope you can experience the excitement, too.

Day Trading

Over here, my friends, is the fastest aircraft in the investment industry. In fact, many traders compete with these vehicles like a sporting challenge, flying through greater highs and lows, making the flight experience very volatile and emotional. But like an addiction, you, my friend must exercise moderation. First of, the cost of the ticket spread multiplied with the number of trading days can deal death blows to a passenger’s wallet. Imagine paying spreads to the ticket seller for every trade! Now that’s investing. Second, you must see how the inside of this aircraft looks like. Can you actually imagine staying inside this vehicle for a decade? Computer screens flashing with charts, phone on your shoulder, dank rooms, closed office windows, half-eaten meal, stacked books, and your poor tax accountant hunched over reams of data for each trade for the year. But don’t worry, my friend, this aircraft won’t slow down. You can always count on it for a quick buck.

Hyped Penny Stocks

This aircraft model, as you can see, is the smallest vehicle of all. It initially soars very high, but it lacks fuel to push through. How can it happen, you ask? The thing with most hyped penny stock aircrafts, dear friend, is the lack of credibility. Many hype operators maintain an online propaganda blitz, and let the price soar due to amateur investors flying in. Then they sell into the rise, laughing all the way to the bank. It is no wonder that it can only go so far.

There you have it, ladies and gentlemen. Our 5 most popular vehicles for many investing passengers, some being rogue traders and others looking for the quickest bang for the buck. I hope you enjoyed our quick tour today. Have a nice flight!

If you want to invest your money wisely you could do a lot worse then finding the highest ISA rates and opening one now to benefit from tax free savings.

Posted in General, Investment | | 0 Comments

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