Business

Before investing carefully consider the fund or funds investment objectives, risks, charges, and expenses. Te mistake that I have made in trying to pursue my dream of being financially literate is not reading the fine line paperwork of an investment. There are all types of fees that can be associated with investing and on top of that there are tax implications. All of these must be considered and added in to whatever the total cost of whatever you may be investing in.

If you have credit card now, the smartest thing to do with it is to pay it off if you owe anything on it. Companies are now lowering their credit card holders rates based o their credit rating when they check as the recession that we are now in deepens. Late fees are what credit card companies may a killing off of so keep this in mine to be on time with monthly payments once missed your APR rate can increase double and on top of that a late fee. They are now trying to pass legislation to make it more fairly and in the customers favor one concept that they are proposing is pro rating your late fees based on the amount of days that you are late.

Every month foreclosures rates in the U.S. have been increasing along with the un-employment rate. These tremendous amounts of foreclosures are leaving a lot of room and opportunity for investors to swarm in on cheap deals. Now is a very good time with the interest rates being low and a lot of foreclosed homes on the market. Now is the time is the key to seize the opportunity to rates will not remain the same and will be sure to rise again. If you should be the brave heart who wants to invest in foreclosures here are some tips. Buy now don’t try and judge when you think is the right time if you have the money and the means then do so it will be the best buy in 20 years when it comes to foreclosures. You should pick a good broker when going into a deal, Make sure you allow yourself to pitch as low as you can go when offering a price for houses and don’t be afraid to insult someone it is your money you’re investing. My advice when it comes to getting a foreclosure at an auction is do not do it. When at an auction they don’t allow you to see property until you buy it, making it a blind draw type of deal. You can also go to banks and look for foreclosure that have been on their roster for a while that will be the one they are trying to get rid of fast because the longer they keep the more money they end up losing. When it all boils down to making the most profit with the least processes is to buy directly from the foreclosed person. When it all boils down to making the most profit with the least processes is to buy directly from the foreclosed person.

My monthly pick of stocks that are more likely to fair good in the future is Apple. Apple is a good pick considering that their sales were up in December by 5% and revenues up 17% with more and more people their IPods in for newer versions this makes for a good timed investment. You buy now and wait until the put out newer versions then stock will go up, hold on to for a few weeks and then voila! Profit! The hype can only last for so long but while it is good it is smart to invest get a profit and get out. Cogent systems are a company that supplies automated systems that capture and analyze fingerprints and other physiological identifiers. Cogent Systems would be a potentially good stock to invest in simply because of a lot of identification systems are projected to more than double in the coming years.

If you own a 401(k) make sure you read the fine print. Many people are unaware of how much they are paying in fees and if you don’t know then you lose while others gain. Pay attention to the fine print in your statement agreement, and if you are unsure of something call the company that administers the 401(k) and request that they educate you. Whether it is in brochures, manuals, or even over the phone talking to you, you have a right to demand that they make clear what you are getting into. Remember no one is going to tell you especially if it benefits them more money in the long run it is your responsibility to educate yourself to the fullest on whatever financial commitment you pursue.

And remember your attitude towards life affect your future financial prospects!

Quote of the month- Borrowing is easier in the short term, but harder in the long term. Don’t buy luxuries until you have built assets to afford them.