Car Insurance Bills

As you probably know, these insurance rates can be rather high. However, your company might have some specific programs that are able to reduce the cost for you. For example, some companies will lower the rate when you take a defensive driving course. Others will bring the amount down when you have an excellent driving record or high grades in school. Still others are willing to work with you when your car has certain features such as an alarm system. Just ask your insurance company what types of discounts it provides.

Your Car Payments

Car payments are a bit more difficult to lower, but it can be done. Refinancing is the best chance you have to lower these bills. With a refinance, you can look into a lower interest rate. You could also try to extend the term of the loan. If you have 72 months to pay off a loan as opposed to 36, your total monthly bill is obviously going to be less money. In fact, it would be half the cost.

Mortgage/Rent

Your mortgage payments can also be reduced if you are willing to refinance. Once again, when the interest rates go down, you can see a huge reduction in the amount of money that you pay each month. Let’s say that you have equity built up in your home. You could consider a refinance with cash-out, and then you can use that cash to pay off some debt that is hanging over your head.

Television, Phone and Internet
First of all, if you do not receive these services in a package, you absolutely need to do that. No reason exists to make three separate monthly payments for these types of bills, and you are losing money by doing so. When you put all of them together, you are going to see a nice drop in the amount of money you pay each month. Call around to different companies to find out who will offer you the best rate.

Student Loans

Here is another place where you might wind up spending way too much money. Student loan service providers generally have different payment plans from which you can select. If you are having trouble making the payments, call your provider and ask what the other options are. Yes, it might take longer to pay off the bill and you may end up spending more money in interest, but it will help to alleviate your financial stress for the time-being.

Conserving Water and Electric

Taking simple steps can help to save you money on both your water and electric bills. Do not leave the water running when you are brushing your teeth, and do not leave the lights on when you leave a room. These rules that your mother has been telling you forever actually have a purpose in the real world.

Lowering your monthly bills does not have to be harrowing and difficult when you keep these tips in mind.

Author Bio: Ernie Brennan has worked in the insurance industry for over a decade.

Resources: Information on monthly budgeting from: The Simple Dollar. Information on saving money on car insurance From: AcceptanceInsurance.com

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Loans (Photo credit: zingbot)

In the face of meagre interest rates offered on savings, peer-to-peer lending has exploded in recent years. The UK’s oldest peer to peer lending service, Zopa, has over 500,000 customers, and has issued £300 million in loans. Companies such as Zopa operate as an intermediary between lenders and borrowers, providing both an innovative way to borrow and an alternative way for people to grow their money. But why exactly has this financial model become so successful?

High Returns with Peer-to-Peer Lending

Peer to peer lending services typically offer much higher returns than traditional banking establishments. Average returns with Zopa are from five to seven percent, compared to high street banks, where two percent is considered competitive. These rates vary depending on how long you make your loan available, and for people willing to loan to higher-risk borrowers, the returns can be as high as fourteen percent. You can even choose to have your money reinvested as it is repaid, essentially gaining compound interest on your loan.

Well Managed Risk

Peer to peer lending services don’t offer the same guarantees as banks. If a borrower defaults, it is not the responsibility of the company. Despite this, services such as Zopa actually have a lower default rate than major banks (for certain borrower categories at least).

They have very strict credit controls in place, and even borrowers classified as high risk have an above average credit history. When you make a loan through a peer to peer service, you aren’t lending to a single individual. Instead, your money is spread out across dozens or even hundred of loans, and usually no one borrower receives more than £10. This minimizes risk, as even if one or two of the borrowers default, you will still see a positive return on your investment.

On top of this many lenders keep a reserve fund to manage bad debts, and will also have a partner working in debt recovery to whom they can sell the debt, thus compensating you.

Ease of Access to Funds

With a company such as Zopa, you typically make a loan from two to seven years, with higher returns for the longer loans. If you want your money back immediately, however, there are options in place to facilitate this. For a small fee, Zopa will return your loan, but you will lose out on the interest you would have earned. It is common for peer to peer services to have an option for other lenders to purchase your loan, which means that your money is almost always attainable.

Of course, it should be remembered that unlike other long term investments, you don’t have to wait your money to ‘mature’ before you see your return. You will receive regular repayments.

No Need to Obsessively Manage Your Money

One of the greatest attractions of peer to peer lending services is their ease of use. You choose the amount you want to loan, and for how much time and to which market. After that, you don’t have to think about your money, or spend any effort managing it. The peer to peer service does all the work for you, and will find borrowers that fit your criteria, as well as handle your repayments.

Peer-to-Peer Lending and You’ll Be Helping Somebody Out

Another attractive aspect of peer to peer lending is that you will be helping out real individuals with your loan. Returns are higher for lenders, but interest rates are also typically lower for borrowers. This is possible because the peer to peer services don’t take on as much risk as banks, and because many of their processes are automated. By lending through a peer to peer service you are likely helping someone achieve a financial goal.

In an era where the practices of traditional banking establishments have become suspect, peer to peer lending is a refreshing and attractive financial option for many. There are obvious advantages for both lenders and borrowers, and this has contributed to the success of companies such as Zopa.

Ben Taylor writes about a wide range of the alternative investments out there. To read his review of Zopa loan’s service, visit financenet.org.

More about Peer to Peer Lending

P2P: Peer-To-Peer Lending Offers Alternative To Traditional Banks …

The Internet has managed to disrupt many industries, from publishing to music. So why not lending? Google’s recent investment in Lending …

Crowdfunding in America: End of the peer show | The Economist

Jun 1, 2013 … FINANCE is seldom romantic. But the idea of peer-to-peer lending comes close. This is an industry that brings together individual savers and …

How Investors Can Gain from Peer-to-Peer Lending | Fox Business …

Ross Asset Advisors President Brendan Ross on how peer-to-peer lending works for the lender and borrower.

P2P Lending Sites: An Exhaustive Review – LendingMemo

A complete rundown of every peer to peer lending site in North America.

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Incandescent light bulb (Photo credit: Wikipedia)

As energy bills continue to rise, we’re all starting to look a lot more closely at our habits in the home. Turning off lights, switching appliances off at the wall and waiting to run the dishwasher once it’s full are all ways in which a lot of people are making a conscious effort to lower their bills.

Although you may get a breakdown on your bill about peak and off peak expenditure, have you ever really stopped to think about what exactly makes up the amount you spend on energy? Considering the amount it costs to boil a kettle or have a light on for half an hour may make you think twice the next time you boil too much water or leave lights on in a room that isn’t occupied.

What costs the most?

Research conducted by All About Money has shown exactly which appliances cost the most to run in the home. The results may surprise you:

The Bathroom

The most expensive appliance to run is the electric shower, which uses energy to heat and pump the water. It’s the main reason why the bathroom topped the poll for the most expensive room to run in the whole house, equalling £25.51 per month. Light bulbs and an electric toothbrush were also taken into account for the bathroom, but even though the cost for this room was high, the electric toothbrush was actually found to be the cheapest appliance in the whole house, costing just £0.00001 per use.

The Kitchen

The kitchen accounted for the second most expensive room in the house, which is understandable when you consider the amount of appliances which are run in this room. The study included a washing machine, dishwasher, fridge/freezer, kettle, fan oven, vacuum cleaner, toaster, microwave, iron, lights, extractor fan and grill in this room. Although a whopping 12 items a run from this room, they still contributed around £10 less to the energy bill than the electric shower alone. The fan oven cost the most over the course of the month, adding £5.63 to the energy bill. The light bulb cost the least, only contributing 1p.

The Living Room

Next on the list comes the living room, adding £4.76 to the utility bill. The appliances found in here are mostly low-cost, with the plasma TV being the most expensive at £1.59, followed by the desktop PC at 90p and the games console at 86p. Ensuring that your television and PC are shut down properly and switched off at the mains when they’re not being used should help with the cost they add to the bill.

The Bedroom

The last, and cheapest, room researched was the bedroom. Phone chargers, a hairdryer, laptop, alarm clocks, lights and LCD TV are all accounted for here, yet this room contributes just £2.22 to the total monthly cost of energy for the house. Again, the television accounted for the most expense, adding 82p to the bill, with the hairdryer coming in second place with 75p.

In each room, the cheapest thing to run were actually the light bulbs, with standard bulbs costing 1p a month and energy saving bulbs amounting to just £0.002. Turning off lights in rooms that aren’t occupied is still a wise thing to do, but cutting down on showers, the amount of TV you watch and the amount of time spent on the computer will have the biggest effect on your bills.

Author Bio: Coral Pearce Mariner contributes some very resourceful articles for Guarantor Loans Online. For more top money saving tips visit their website or follow them on Twitter @UKCreditLoans. 

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English: L6 D Electricity transmission tower, near Aust, England, UK. Deutsch: L6 D Elektrizitäts-Freileitungsmast in der Nähe der englischen Stadt Aust Français : Pylône électrique de modèle L6 D près de Aust, en Angleterre. (Photo credit: Wikipedia)

Even if you think you are paying fairly competitive rates for your gas and electricity, it is always still worth comparing utility prices online. Many people end up being quite surprised by how much money they can save when they compare utility prices on the Web. Recent research suggests that the average customer can expect to save around £80 per year. Currently, many people are paying more than they should.
There are many popular websites out there which can help you to find the cheapest utility services available in your area but following are five of the most popular.

1. Comparethemarket.com
You may well have seen this one advertised on the television by the animated meerkat. Like many of the comparison websites, this one helps to find you a better deal on all sorts of services ranging from insurance to household utilities. You can use the online search function to compare utility prices and find a better deal on your gas and electricity. You can also enter details about your most recent bill and then get an estimate in moments of how much money you can expect to save. Unlike some of the other utility price comparison services online, you can also get your gas and electricity quotes separately here. Information provided is up-to-date and, for the most part, quite accurate.

2. Confused.com
Confused.com originally started out as an online service for people to compare car insurance costs but it has since diversified and expanded to become one of the UK’s most popular price comparison websites. It offers everything you need on gas and electricity prices as well as an abundance of other useful cost comparison services. Confused.com claims on its front page that some people can expect to save up to £440 by changing to a new gas and electricity supplier. As with other similar sites, you can search for the availability of utility providers in your area by entering your postcode. You will also be required to enter your email address when you carry out a search. If you prefer not to provide your email address at this point, you will need to use a different service.

3. Moneyexpert.com
Moneyexpert.com allows you to compare gas and electricity prices all over the UK. It also provides information on things like personal finance and insurance. It is one of the best established price comparison services in the United Kingdom. In order to get started on your way to get accurate gas and electricity costs, you will need to have some information handy regarding your most recent utility bills. After spending a few minutes filing in some forms, you will be able to review the quotes. The site also offers a £25 cashback incentive for anyone who uses their service to switch to a new gas and electricity provider.

4. Moneysupermarket.com
Moneysupermarket.com is another popular UK-based website for comparing energy prices around the country. Again, it also provides pages for comparing the prices many other types of product and service. This website also offers a useful additional informational resource including articles advising you about other ways to save money on your utility bills. To get started, you simply need to enter a postcode and choose whether you want to search for electricity suppliers, gas suppliers or both. The forms may like a little too much at first, but don’t forget that the requirement for more information also means that you should get more accurate and relevant results. This service also allows you to choose between different tariff types such as capped, fixed price and variable rate.

5. uSwitch.com
This site covers both the United Kingdom and Ireland and, unlike most of the previously mentioned sites, it also offers special information specifically for businesses. To get started, provide your postcode and email address and choose whether or not you want to receive promotions or other updates in your mail. You will then need to spend a few minutes to complete a basic questionnaire. This will help the service to provide you with the most relevant information for your particular situation and requirements. You will be able to review results using conveniently presented comparison charts accompanied by customer ratings and reviews.

Compare Utility Prices and Save Money on Your Bills

Utility bills are not getting any cheaper and they are among the biggest financial burdens of most people in the UK and elsewhere in the world. Particularly in times of economic hardship, people are finding it more important than ever to find ways to cut down on their outgoings and one of the most effective ways to do this is often to stich to a new utility company. A lot of people are paying more than they need to for their electricity and gas prices but, if you compare utility prices online, you may just be surprised by how much you can save.

An Introduction to Utility Comparison Services Online

Image via CrunchBase

The Web has become an essential part of many people’s lives in part because it can help us to save money on all sorts of things. Using certain online services allows you to compare prices of just about every type of product and service imaginable. To compare utility prices online, all you need is a little information such as your postcode and, preferably, a recent bill. The more information you can provide regarding your current suppliers and bills, the better idea you will get of how much money you should be able to save in the event that you make the switch to a new supplier.
These sites are not at all difficult to use and they typically require that you spend a few moments completing some forms to get the information that you need. Things to have handy include your postcode, telephone number, home address, email address and any information that you can find regarding your current utility providers. After providing these details on the utility comparison website, you will be presented with a list of quotes from companies and services available in your area. If you provided information about your current utility suppliers, you should even be able to find out straight away how much money you can expect to save should you switch over. Once you have chosen your preferred service, you should be able to initiate the switching process from the price comparison website. When the process is generally simple enough, you will usually need to wait a few days for the changes to take effect. If in doubt about anything, contact the utility company before committing.

How Much Can I Save?

It is hard to say how much you can save without actually getting a list of quotes from one of the utility price comparison websites. However, what is certain is that most people in the United Kingdom are paying more than they should for their utility companies. Some of the comparison websites might make claims that seem rather exaggerated, but you have nothing to lose by taking a look at which options are available in your area. Confused.com, one of the most popular comparison websites for comparing prices of everything from utility bills to car insurance premiums, states that it has helped around ten percent of its customers to save £440 per year – a very worthwhile saving for most people.
While you may well end up finding that it is time to switch to a new supplier, there are also other important considerations when it comes to slashing your utility bills. Switching can only save you so much – what it is mostly up to is yourself. Cut down on your outgoings by using your household appliances a little more sparingly. Don’t forget to turn off appliances when you are not using them rather than leaving them on standby to continue using a small amount of power. Upgrade your home’s lighting fixtures by installing energy-efficient lightbulbs and replace old appliances with newer and more efficient ones. All this will save you money in the longer term regardless of whether or not you switch to a new electricity supplier.

Some Services to Try Out

There’s certainly no shortage of comparison websites out there for you to compare utility prices but among the most well-known in the UK are comparethemarket.com, confused.com, moneyexpert.com moneysupermarket.com and uswitch.com. There are also other lesser known sites, some of which specialize in a particular niche such as green energy or energy for businesses. You can also sometimes compare prices on the websites of individual energy companies themselves.

Compare Utility Prices between Residential Solar Power and Traditional Solutions

solar panels (Photo credit: spanginator)

Solar power is by far the most common form of renewable energy for the home. Among one of the most common concerns that people have today with regards to their outgoings is the increasing cost of energy bills. Some people have turned to solar power in the hope of saving money in the longer term by becoming less reliant on utility companies or even, in some cases, entirely self-reliant. In a country such as the United Kingdom, which is hardly known for its sunny climate, the thought of taking advantage of what solar power has to offer seems rather out of reach. Nonetheless, there are options available, all of which have the potential to save money in the longer term. If you are thinking of making the move to residential solar power, then the following tips and information will help you to compare utility prices between this and traditional solutions.

Which Options Are Available to Me?

As with just about anything else in life, the price ranges are enormous for solar power installations. However, the available options fall into only a couple of categories. Residential solar power installations may either be connected to the main electricity grid or completely stand-alone. The former allows you to sell any surplus electricity generated back into the grid, theoretically allowing you to actually make money from your solar power system. However, this typically requires a prohibitively expensive and large installation and, in the UK, it is rarely a practical solution.
Stand-alone systems are the other option and are particularly suitable in more secluded areas. Stand-alone systems are not connected to the electricity grid at all and, because of this, you will need to have your own batteries installed on site for storing the electricity generated. If you are looking to become completely self-reliant with regards to your electricity supply, you will probably still need an additional generator for when your solar panels cannot generate enough energy. Keep in mind that the average two- or three-bedroom home requires around five kilowatts to power all appliances including an electric oven. This demands a pretty large solar power system with an extensive bank of batteries. If you want to power an electric heating system and boiler, you will need a lot more even than this.
You can compare utility prices online for the various types of installations available. Using the price comparison websites for utility bills, you might also be able to get a better idea of how much money, if anything, you can save by making the move to solar power. For those who don’t mind doing some DIY, residential solar power can become a much more attractive option since do-it-yourself solar power kits typically present a far more affordable solution. A couple of good UK-based websites for helping you to get a better idea of the renewable energy market include comparemysolar.co.uk and theecoexperts.co.uk.

Costs Involved and Conclusion
Installation costs are also high in most cases, even if you do opt for a do-it-yourself kit. For a fairly standard system providing approximately 1.6 kilowatts of power during peak operation, including installation costs, you should expect to spend at least £3000. This system will be enough to power most everyday appliances and lighting in a small home but only during ideal weather conditions and operation. When comparing prices online, you should be able to enter you power requirements in order to get a quote for the size and type of solar power installation you need for your home.
One of the other advantages of solar power when it comes to long-term costs is that these systems require relatively little maintenance. Since there are no moving parts involved, there are fewer things that can go wrong. For the most part, you just need to keep your solar panels clean and they will require minimal maintenance over the years. On occasion, however, you may need to replace the photovoltaic cells and the batteries if you have your own.
Solar power is certainly not for everyone. Many areas of the country simply do not receive enough sunlight to make a residential solar power installation practical or affordable in most cases. You will ideally need to have relatively reliable weather and long daylight hours for your solar panels to be able to generate a worthwhile amount of energy.

Compare Utility Prices from the UK’s Top Providers
If you are looking for a better deal on your utility bills, then you are certainly not the only one. Studies show that most people are paying somewhat more than they should be paying on their gas and electricity bills and the average home owner can generally expect to save a significant amount of money on their yearly outgoings by switching to a new supplier. In times of economic hardship and constantly increasing utility costs, it is even more important to find new ways to cut down on these expenditures. As usual, the best place to start is the Internet with its abundant resources allowing you to compare utility prices in the United Kingdom and everywhere else in the world.
How much you will be able to save by changing to a particular company largely depends on where you live and on your requirements. Rather than going directly to the utility company’s website to start with, check out some of the popular energy comparison websites such as confused.com, moneyexperts.com or uswitch.com among others. These sites will be able to give you a list of quotes from all services available in your area allowing you to quickly find out how much you can expect to save.

The following provides a brief overview of the ‘Big Six’ top energy providers in the UK.

British Gas EA07HVO (Photo credit: didbygraham)

1. British Gas
British Gas is one of the oldest utility companies in the country. It is also the largest, providing gas or electricity or both to twenty-million home and business customers around the United Kingdom. British Gas belongs to Centrica Company of which Scottish Gas is also a subsidiary.
In spite of being the largest utility company in the country, a lot of people are paying more than they need to with British Gas. You can learn more about their tariffs from britishgas.com.
2. EDF Energy
A UK-based subsidiary of the French energy giant, EDF is the second-largest provider of gas and electricity in the United Kingdom. It provides its services to almost six-million people around the country. Much of its power is generated from nuclear power stations and other renewable energy resources. It operates a number of nuclear power stations around the country. France itself is the country most reliant in the world on nuclear power. EDF energy provides services for both homes and businesses of any size.
3. Npower
Npower is the third-biggest energy company in the UK, supplying around 6.5 domestic and corporate customers. It also one of the fastest growing utility companies in the country. Npower was originally a British company until being sold to the German company RWE in 2002 and its consequent rebranding. In addition to providing both gas and electricity services, Npower also offers maintenance and repair services for boilers and heating systems. The official website for the company is npower.co.uk.
4. E.ON UK
A subsidiary of the German-owned company, E.ON AG, the largest utility company in the world, E.ON UK is the United Kingdom’s fourth-largest energy provider. In addition to operating a number of traditional power plants such as coal, oil and gas, E.ON UK is also a major operator of onshore wind farms. E.ON UK was formerly a British company operating under the name of Powergen until its sale to Germany in 2002. You can learn more about the availability and cost of services in your area from eonenergy.com.
5. Scottish Power
Now a subsidiary of a major Spanish energy company, Scottish Power is the smallest energy company of the Big Six. In spite of its name, Scottish Power supplies energy not just to Scotland, but also to various other parts of the United Kingdom. Its networks also cover parts of Wales. The company operates various gas power stations and various renewable energy operations including a number of wind farms and several hydroelectric power stations in Scotland. You can learn more about the company and its services at scottishpower.co.uk.

How to Compare Utility Prices with the Energy Efficiency Rating

The energy efficiency rating can be found in countries across Europe. In the United Kingdom, it is included as part of the Home Information Pack with many houses and apartments available for sale or rent. For those looking to buy or rent a property, the energy efficiency rating provides a useful and fairly reliable way to compare utility prices for a particular residence. If you are on the lookout for a new home, you should familiarize yourself with energy efficiency certificates. You will also find a similar form of the energy efficiency rating on various new household appliances in shops. They can help you to get a better idea of how much a particular appliance will cost to run.

Understanding the Energy Efficiency Rating
You will be able to find energy efficiency ratings on everything from lightbulbs in the shops to advertisements for entire homes or business premises. Using the values provided on the certificates, you will be able to compare utility prices for a particular home or the running costs of a particular appliance. They are simple enough to understand for the most part and they are presented in much the same way in every country in the European Union and in certain other countries beyond.
The energy efficiency rating is presented in the form of a small diagram and two ratings are provided when referring to real estate. There is the current rating and the potential rating. The former is the one that you really need to pay attention to, particularly if you are only renting the property. The potential rating refers to the expected energy efficiency attainable by making certain modifications to the property such as adding attic installation or improving the performance and maintenance levels of certain appliances and heating installations. Energy efficiency ratings provided for individual appliances and other electronics only include the former.
For each rating, a figure from 1 to 100 is provided. This rating, in turn, falls into a particular group labelled A, B, C, D, E, F or G with ‘G’ being the least energy efficient group and ‘A’ being the highest. Of course, the higher the rating the lower you can expect your bills to be. Most of today’s new household appliances come into the more energy efficient categories.

Understanding the Environmental Impact Rating
Also part of the Home Information Pack is the environmental (CO2) impact rating. Again, there is both a current and potential rating assigned a score of 1-100 which, in turn, falls into a group labelled from A to G. Properties that fall into group ‘A’ are very environmentally-friendly and have minimal CO2 emissions while those falling into the highest category with a rating of 1-20 (Group G) are not environmentally-friendly. Unsurprisingly, the energy efficiency rating and environmental impact rating are typically closely related.

European Union Energy Labels
Across the European Union and in various other countries in Europe, you will come across the European Union Energy labels on new products ranging from everything from lightbulbs to fridges. These labels are useful for getting an estimate of how much the product will cost to operate. Just like the energy performance certificates provided with real estate, the energy labels provide a score for the energy efficiency of a particular product. Rather than providing an actual number, however, usually only a colour-coded group labelled A to G is provided. Additional information which is specific to the type of appliance will also be provided. Other statistics to look out for include operating noise level and energy consumption in kilowatt hours. From the latter, you can expect to get a fairly accurate idea of running costs.
In 2010, some changes were introduced with certain appliances such as washing machines, refrigerators and freezers. For these, the groups are now labelled slightly differently. Instead of being labelled A to G, they are now labelled A+++, A++, A+, A, B, C and D with D-rated appliances being the least energy-efficient.

Author Bio: Author Sam Jones advises people wishing to compare utility prices to go to prices comparison website, uSwitch to find and switch to a cheaper supplier

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an unwitting victim…bwahahhahahaa (Photo credit: bark)

The IRS has recently begun to track tax payers who fall behind on payments in their process to close the $450 billion tax gap. Unfortunately, there is no sure way of telling when or if an IRS tax audit is coming, mainly because the IRS is using a random selection on tax returns to investigate. But by following these simple tips you can avoid the difficult process of tax calculation and legal issues that may arise.

1. Pick a tax professional to help you
This is extremely important if you are not sure how the process works. Fortunately, for people making less than $51,000 a year, help is provided at no extra cost. Choose wisely a professional tax preparer to avoid further issues.

2. Don’t mix business with pleasure
Never try to deduct hobby or leisure spending as business. The difference between the two is simple: businesses make profit, while hobbies don’t.

3. Get incorporated
Self-employed people are almost 10 times most likely to get audited by the IRS. By incorporating, instead of filing a Schedule C form, you file a corporate return, thereby reducing your chances of an audit.

4. Don’t get too comfortable with deductions
Many people use charitable deductions to reduce their tax payment to the IRS. This is considered by the IRS a red flag and you should never deduct more than half your adjusted gross income. Keep in mind that as your deductions go up, the odds of an audit also rise, so be wise with this issue.

5. Be meticulous and attentive
Never rush your tax calculations as errors can appear, leaving you with high odds for an audit.

6. Earn less money
The IRS targets people that earn a lot of money, with higher odds of an audit if you make more than in the previous year. Statistics show that people making over $1 million have a 12 percent chance of an audit, while the ones making about $200,000 have only a 4% odd of an audit coming from the IRS. Keep in mind that the more money you make, the higher is the risk of an audit.

7. Look out for the earned income credit
The earned income tax credit also attracts the IRS. This is available for low to medium income individuals and families. People claiming this option have a higher risk of an audit. It is estimated that approximately 27 million people claimed credit in 2011.
8. Make sure you report everything you earn
Don’t forget to mention any income, from any source. Many people simply forget this part and end up with an audit from the IRS. Obviously, that doesn’t include yard sales, but try to include gambling earnings. Also, look out for income that is reported by your associates or business partners. You will need to include this as well.

9. Use electronic reporting
The IRS allows e-filing of the returns, reducing bureaucracy and efficiency. Some people believe that this increases the risk of a possible audit, but the IRS denies it. Actually, electronic reporting reduces the odds and the returns are faster and errorless.

10. Watch out for state returns
To put it simply, state and federal authorities communicate. This means that if you get audited by one, chances are you will get checked by the other as well. Therefore, try to prepare your state taxes with utmost care to avoid further problems with the IRS.

If you are picked for an audit, you simply need to keep calm and understand that the IRS only wants a closer look at your taxes. Always make sure you are well documented and know your way.

John is a passionate blogger and works as a financial consultant for small businesses.

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The biggest challenge in securing a loan is the credit check.  This is a record of every account that a borrower has open, the balances on those accounts, the credit limits the borrower has available and a list of every late or missed payment.  This comprehensive look at a person’s finances strips away the humanity of the borrower, and reduces the borrower to nothing but a set of numbers.  Banks refuse to loan money to people with low credit scores, so where do borrowers go to the money that they need?

Pawn Shops

For centuries pawn shops were the only place that people could go for consumer credit.  These were shops were potential borrowers could take a portion of their belongings and offer something as collateral in exchange for a loan.  The loan was always for the short term, and the loans were designed to be paid back with interest before the items would be returned to the borrower.  Even today, pawn shops act as one of the easiest places for consumers to get money quickly.  There is no credit check needed; pawn shop employees just evaluate the value of the items to be pawned and make an instant decision about how much money they are willing to lend.  The problem with pawn shops is that the consumer must give up the items in order to get the loan.

Car Title Loans

Another collateral based short term loan option is a car title lender.  These companies allow consumers to trade in the clear title of any vehicle they own and get money based on the estimated value of the vehicle.  Again, there is no need for a credit check, because the value of the vehicle is equal to or less than the total value of the loan and the lender can easily recoup the cost of the loan by repossessing the vehicle if the loan falls in to default.  Car title loans allow the consumer to continue using their vehicle during the duration of the loan.  The problem with car title loans is that not every borrower has a title that is free and clear, and often the vehicles these borrowers do own have very little value.

Payday Loans

The newest trend in short term loans are payday loans.  This is money that is given to the borrower based on paychecks that are directly deposited into the borrower’s bank account.  Payday lenders do not worry about credit checks because they have the ability to reach into the borrower’s account and make payment withdrawals on payday.  Getting approval for a payday loan is incredibly quick and easy, with most applications taking less than ten minutes.  The problem with payday loans is that the fees associated with the loan can often cause the borrower to fall into a debt cycle, where each pay period the consumer has to borrow money because a good chunk of the previous check went to paying off the last loan.

Consumers have options when looking for short term loans.  Depending on their situation and what the borrowers have for collateral, choices range from a simple pawn shop transaction to a payday loan.

Author Bio: My name is Bill Carleson and I used to have terrible credit and had to take many loans out through a company called payday loans Australia that really helped me due to not having credit.  Over time I have learned a lot about them so I wrote this article to share a little about what I learned overtime. 

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Most people with debt tend to worry about how to pay off what they owe. In the current economic climate, this has never been so true. With rising inflation, stagnant wages, high unemployment and a housing market in crisis, British people are finding that their debt is simply going nowhere. But there are some great tips and tricks for clearing your debt quickly, providing you’re willing to commit yourself to positive change.

Define Your Income

Your first step towards clearing your debts should be to draw up a concise list of all your incoming and outgoing monthly payments. This should include details about:

• Your housing payments (rent/mortgage).

• Your utility bills.

• Food and clothing allowance.

• Extra outgoings – phone, toiletries etc.

• The sum total of your debts and you minimum monthly repayments.

This will give you a much clearer indication of exactly how you can improve your debt repayments, and therefore clear your debt faster.

Investigate Other Sources of Income

Once your income and outgoings has been defined, you will know exactly how much money you need to clear your debts, and how much you will need to set aside to do so.

Many people find that they are able to source funding from other areas in their lives, which will help them to clear their debts quicker. Sometimes friends or family are able to lend you money, or you may be able to release funds from your pension. Secured homeowner loans are another great way to raise capital to pay off your debts quicker, providing you have a property against which you can secure your loan.  You should ensure that you’re aware of all the potential implications of choosing any of these options. If opting for a loan, you can calculate your repayments at Nemo’s website in order to work these into your financial plan.

Keep Your Chin Up

It’s all too easy to feel depressed about debt. But this is actually the quickest way to get in trouble with your debts. It’s much better for you to be brave, face your debts head on, and hold your head up high as you tackle them in a sensible and straightforward manner. There are plenty of resources for people struggling with debt, and it’s important to remember that you aren’t alone.

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What is an IVA?

An IVA is a formal agreement between you and your creditors which allows you to pay back your debts over an agreed period of time. Sometimes you are required to pay back all of your debt in an IVA but often the agreement is that you will repay a reduced amount to your creditors. They may agree to such an agreement so that they get some money back, rather than nothing if you filed for bankruptcy.

IVAs are not available for everyone and they depend on your circumstances. They are only suitable for people who have some spare funds each month with which to make repayments. You must also owe more than two creditors money and you must be unable to adhere to the original repayment agreement you had with them.

IVAs cover various types of debt, including:

• Bank and building society loans and overdrafts

• Credit cards

• Personal loans

• Store cards

• Catalogues

• Charge cards

• Council tax arrears

• Tax debts

• Electricity and gas debts.

When is an IVA the right option?

It is important to remember that IVAs are not always the right option. An IVA is simply one option, although it could be the best way for you to work your way out of debt.

If it is available to you , an individual voluntary arrangement may be preferable option to bankruptcy. If your financial problems are temporary then it may be the right option for you. An IVA has a number of benefits compared to bankruptcy. You can save your assets and possessions if you choose an IVA over bankruptcy, and it should be remembered that bankruptcy can lead to serious problems acquiring finance in the future.

How does it work?

To arrange an IVA you will need to contact a registered insolvency practitioner to act on your behalf. There are a number of companies offering IVA services and a quick internet search will produce a list to choose from.

Your practitioner will help you come up with a sensible and doable plan to repay your debts and come to an agreement with your creditors as to how much you will repay and over what period of time. This is usually a term of five years.

If necessary, an insolvency practitioner can also arrange an interim order which prevents your creditors taking legal action against you while your proposal is being prepared.

So consider your position and whether an IVA could be the best option for you.

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Protect Against Rising Healthcare Costs

The nonpartisan Congressional Budget Office predicts that the changes in health care reform will drive health insurance premiums up about 30%. Even the Obama Administration recently said that the costs will rise for many people. Fortunately, you can reduce your premiums if you take the right steps. Here are some things that you should do.

Lose Weight

The Affordable Care Act will impose penalties on people who are significantly overweight. These penalties may have offended some people, but most economists are defending them. John Crawley is an economist from Cornell who specializes in the health care industry. Crawley recently stated that the costs of obesity aren’t only paid for by those who are overweight. The costs to the entire country will be nearly $550 billion between 2013 and 2030.

People who are significantly overweight should try to lose weight before the ACA kicks in next year. Losing weight will reduce your premiums in the short term. You may also pay fewer copays if you don’t need treatment as often.

Stop Smoking

The ACA also carries penalties for people who smoke. The penalties for smokers vary by age, but could average about $5,000 per year for older people. You should seriously consider giving up smoking. You may have had a hard time quitting in the past, but these premiums may give you the inspiration you need to quit.

Choose a High Deductible Health Care Plan

You can reduce your health insurance premiums by taking a high deductible plan. You will have to pay more money if you do get sick. However, this may be a good option for people who are fairly healthy and don’t need to see the doctor very often.

Find Out if You Are Eligible for Medicaid

One of the provisions in the health care reform bill includes an expansion for Medicaid. You may want to find out if your state is participating in Medicaid expansion. You may be eligible to participate through the new health care exchanges.

Find Out if You Need Coverage

The new law requires people to purchase health care insurance or pay a premium if they are making more than 400% of the poverty rate. You do not need to purchase private insurance if you do not meet this income requirement.

Reduce Health Care Premiums

The Affordable Health Care Act is one of the most complex legislations in American history. Nobody knows exactly how the new law is going to work, but most experts believe that health insurance rates will increase significantly. You will want to take the steps to reduce your rates as much as possible when the new changes kick in.

About the author: Kalen is a personal finance writer who has been published in Forbes, Investopedia and Creditcards.com. He writes about changes in health care reform and how they affect most Americans. He also talks about the benefits of a public health policy specialization online degree.

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Start As Early As Possible

The earlier you start building your wealth, the wealthier you will be at the end of the decade. It’s never too late to start, but a young 20-something has better chances for building real wealth than a 40-something who started too late. The goal should be to save as much as you can while you are young, and then let that money develop into more money.

Save Money by Living Simply

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Living simply means living below your means to build wealth. Warren Buffet is well known for living a simple life and being philanthropic with his billions. You can do the same. Buy the cheaper house. Buy the cheaper car. You may even want to skip buying a car altogether if you live in a big city. Whatever the case is, save money where you can.

Make Your Hobby Make You Money

If you have a hobby, then use it to make you extra money for savings. Hobbies can be turned into businesses, and there’s a big demand for local and handmade goods. If you make jewelry, knit, sew or create art, then this niche is perfect for bringing in extra cash. Marketing your hobby is easy with sites like Etsy, eBay and the like. You can passively earn extra money by doing what you love. A talented hobbyist could easily draw in thousands of extra dollars per year. Use this money to add to your retirement savings.

Avoid Credit Card Debt

Credit-card debt is a killer. You want to avoid it at all costs if you plan to build wealth. It’s impossible to get ahead if credit cards are always holding you back. The extra fees, bills and other issues associated with having credit cards is enough to give anyone a migraine. Pay off your debts, and stay away from credit cards in the future.

Start Your Retirement Savings Now

Starting a retirement savings account is an amazing way to get plenty of money towards retirement. The younger you start, the better off you will be when you are older. If you only give a small amount to it, you should still make an effort. Research the different options available to you, and then choose one that makes the most sense for your life and needs right now.

Building wealth doesn’t happen overnight. It takes time and dedication. You will be proud when you see how much money you can save at the end of a year or at the end of a decade, and you will be considerably richer too.

Author Bio: Jessica Bosari is a personal finance blogger writing about wealth creation strategies for InvestmentPlanner.com.

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