Quarter Of Teenagers Would Fund Big Purchase With Loan

Almost a quarter of teenagers (24 per cent) would use
personal loans or similar credit system to make large
purchases, such as a car or a house, according to the
latest research from the Nationwide Building Society.

The building society conducted the study into young people
and their finances ahead of the launch of a book about ways
to manage money - The Teenager’s Guide to Money -
which is sponsored by Nationwide.

According to the research, two-thirds of teenagers do not
feel they have a good knowledge of finance, with half of
them using the internet to find out information about
certain financial issues that they do not understand fully.
Just over a third (38 per cent) would turn to their school
for information, with the majority (83 per cent) using
their parents or guardians as a knowledge source.

“We are in danger of seeing the young people of today
grow up without the confidence or understanding to make
informed decisions about their money and plan for their
financial future,” said Stuart Bernau, executive
director of Nationwide. “The government has been
working hard to provide every young person in the UK with a
solid financial education. Following the publication of the
Leitch report earlier this year, skills have been placed
firmly on the agenda.”

Despite this, Mr Bernau has said that many teenagers will
miss the opportunity of financial education in school and
will therefore face a “complicated and perhaps
daunting” situation when it comes to dealing with
their own finances, which could include credit such as a
personal loan.

One in five teenagers do not consider debt as a bad thing,
Nationwide found. Around a third of these (32 per cent)
stated the reason for this was that “everyone is in
debt these days”. This could suggest that teenagers
of today will take on more easy loans or quick loans in the
future, something Nationwide is keen to ensure they do only
once fully aware of how to mange them.

“We want the next generation of homebuyers and
investors to use credit to their advantage and make the
most of their savings. Through financial education we can
equip today’s teenagers to make the most of their
money,” Mr Bernau said, again emphasising the need
for the nation’s young people to be taught
responsible ways to look after and manage their personal
finances.

Almost half of those surveyed (46 per cent) did not know
what an overdraft was, knowledge that is often crucial for
those heading off to university. Another issue facing
university candidates is what student bank account to
choose, with an indicator of how the current generation of
teenagers will act illustrated by the fact that 19 per cent
chose their current bank account on what gifts or
incentives were provided.

Last month, research from Halifax revealed that 11 per cent
of parents were looking to take out a personal loan in
order to support their child through university. Ten per
cent were found to be considering the remortgage of their
property to pay for their offspring’s studies.

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Abbi Rouse writes for All About Loans where visitors can
apply for a loan online and also focuses on bad credit
loans , and secured home loans for UK Homeowners. Visit
today http://www.allaboutloans.co.uk

The Mindset of The Successful Currency Trader

Let me begin by saying that if you want to get into forex
or currency trading online, DO NOT begin by buying a guide
or a training course.

Too many low-lifes out there pander to the uninformed by
selling them overpriced guides and manuals, sometimes for a
few thousand dollars each.

A forex mentoring course can be a good option once you know
the basics of forex and want to hone your skils, but there
is just so much good information available on the internet
for free that you could literally become an all-star trader
without paying anything for education.

Today we are going to talk about the way you need to think
if you want to be a profitable forex trader.

I consider myself to be pretty profitable when it comes to
forex trading, and my first banking internship on the
Foreign Exchange floor was when I was 16! (I was the
youngest intern they ever had!) I got hooked on trading,
and have been doing it ever since.

One thing that is really necessary to your success is to
READ. Alot! The more you know about forex trading, the
easier (and more profitable) it will be.

You want to know the mechanics of the forex markets from
the inside-out. I'm not going to spend time discussing the
practical aspects of the forex market, as you can and
should discover this though your own reading.

When you begin to get comfortable with your knowledge of
what this market is, how it works, and how to place
successful trades, you are in a position where you can feel
confident in your trading abilities.

The most important thing that the successful currency
trader possess is the ability to separate his emotions from
his trading. Confidence in your trading abilities is one
important aspect to being emotionally detached from your
trades, and the other aspect has to do with the way you
fund your live trading account.

Make sure that when you put money into your live forex
account, it is extra money that you do not need to survive
and could afford to lose. If you are trading with the
money that you need to pay your car insurance, your trading
will be highly emotional and likely to fail.

In a way, this is kind of ironic, because I'm sure you've
heard the saying that 9 out of 10 of new traders fail.
Well, traders that CARE and are highly emotional about
growing their forex account are the ones that lose their
shirts, when the traders that DON'T CARE and have no
emotional attachment to their trading make most of the
profit.

That's the irony: The less you care about making money in
the forex market, the more money you tend to make!

But also realize that you are not 'not caring' out of
negligence (pardon the double negative), but rather because
you are so confident in your trading abilities that you
KNOW that in the long run you will always win.

To the successful currency trader, trading is not so much
about making money as it is about collecting pips in their
trading account!

Profitable forex trader's also tend to develop and follow
their own trading systems. Finding or creating a certain
system and trading within it is also important to
successful trading.

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My personal trading strategy that I have developed is
something that I call Forex Surfing, and you can read more
about it on my site, http://TheForexSurfer.com .
There is also a large collection of free forex ebooks and
trading resources at my site as well, just click 'free
reports' or 'free resources' at the top!

Three Ways to Avoid Bad Credit During Tough Times

A sudden job loss, unexpected medical bills, or a family
crisis can all lead to difficult times, financially
speaking. When Americans find themselves facing a period of
tight economic times, measures can be taken to help avoid a
drop in their credit rating. Following are three ways to
avoid bad credit during tough times.

Cut out Unnecessary Expenses

Small purchases, like coffee and a newspaper, can add up
fast. Over a period of time, these seemingly harmless
splurges can eat away at cash needed for bigger expenses.
When money is tight, consumers can create a list of
necessary bills to pay each month. Money should be set
aside for these bills first. Before making extra purchases,
customers can evaluate whether the item is necessary, or if
they can get by without it for a few months.

Some advisors suggest using a credit card to make purchases
when funds are tight. This frees up cash for small items,
and avoids the need to take out a cash advance, which can
be very expensive. While there may be benefits to this, a
credit card should be used sparingly during difficult
times. It is important to use a card with a low interest
rate and set up a payment plan before making a purchase.
Also, the card should only be used on a short-term basis.
Ensure that minimum payments can be made before swiping the
card.

Make Minimum Payments on Time

A decrease in income does not equate a drop in a
person’s credit score. In fact, credit rating is not
determined by income level. It is calculated by a number of
different factors, and one of the most crucial ones is
payment history. Continuing to make minimum credit card
payments on time will help avoid a slump in a
person’s credit rating. Once the situation improves,
the customer can pay off the full balances. These efforts
may lead to more loan approvals in the future.

If for some reason it will be impossible to make a payment,
consider contacting lenders. Tell them of the situation.
They may be able to help work out a payment plan, or
develop a different strategy for bills due.

Think Long-Term

While it may be hard to think about the distant future,
establishing a long-term plan can be beneficial during
tight financial times. In addition to reducing purchases
and making minimum payments, a budget can be developed.
Planning a savings account is another option. When
possible, a small amount of money can be set aside each
month. As time goes on, this fund will grow to become a
safety net. Consumers can dip into it when unexpected bills
arrive.

These measures can help consumers maintain their good
credit score, even during difficult financial times.

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To Apply For A Credit Card Today click the following link:
http://www.credit-card-surplus.com . Ed Vegliante runs
http://www.credit-card-surplus.com , a directory helping
consumers to compare and apply for credit cards.

What You Need to Know Before Filling Out a Business Credit Card Online Application

Thanks to the Internet and the creation of the business
credit card online application, the days of searching high
and low for snail mail apps and waiting weeks for approval
are long gone. Nowadays, getting a business credit card is
as easy as logging on to the Web and filling out a simple
form. However, there are a few things you need to know
about business credit cards and online applications before
you jump in with both feet.

Your Personal Information Matters

If you're one of the many who think your personal
information will play no part in the business credit card
online application process, you're sorely mistaken.

Unless you have a well-established business that is its own
entity with its own credit history, you're going to need to
put your credit on the line and you'll need to provide your
personal information (including your social security
number) to the credit card company.

Credit Limits Don't Change Too Much

When you submit a business credit card online application,
you may be expecting a larger credit limit than you would
normally qualify for. After all, it's a business credit
card, right? Don't get your hopes up.

Chances are you're making a personal guarantee to qualify
for the business credit card. Because of this, the credit
limit you are granted will coincide with your own credit
rating. If your credit is excellent, you may indeed have a
credit limit in excess of $10,000 when your business credit
card online application is approved.

On the other hand, if you need credit improvement, Your
limit isn't going to be much higher than it would be on a
personal credit card. In fact, $500 (or maybe even less)
may be a more likely scenario.

It Might Not Be Instantaneous

Many of us have become accustomed to online credit card
applications offering instant approval. Business credit
card applications, however, are not always an instant
gratification process.

When you submit a business credit card online application
don't be surprised if it takes a week or two to get a
response. Many business credit cards don't offer online
instant approvals yet.

Compare, Compare, Compare...

Of course, just as you would do with personal credit cards,
make sure you compare the terms of the various business
credit cards available before filling out any business
credit card online application. The difference between two
credit card offers can be like the difference between night
and day. Make sure you understand which credit card will
work best for your specific needs before submitting your
business credit card online application.

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For more tips on business credit cards, saving money and
avoiding getting taken, check out the student credit card
section at CreditCardTipsEtc.com, a website that
specializes in providing credit card tips, advice and
resources.
http://www.creditcardtipsetc.com/business_credit_cards