Archive for May, 2007

Sometimes finding good advice on money and savings is hard, especially on the internet. Everyone and their mother (literally) seems to have advice as to how you can get rich quick, or save a bundle and retire early. Which advice do you take?

I was recently put in touch with a website called Thrifty Scot to check it over and see what I think. All in all, a good site that provides useful knowledge and services for those of you looking to save a little money and increase your wealth.

First off, as we’ve mentioned before, you can stand to save a lot of money in the long run by purchasing a house rather than renting which means taking on a mortgage. Thrifty Scot has some useful information on mortgages that may just help you out of a jam and get the right rate and deal when buying that first home.

Another killer for some peoples wallets is how much they pay in car insurance. You need to pay attention to what the “sales people” are trying to sell you and knowing what you need and don’t need is half the battle. Let this site help you out.

Lastly, once you have your finances in order you may need to get a boost in cashflow and take on some loans. We suggest heading over and learning about a sucured loan before you do anything. It could save you a lot of money in the long run by allowing you to watch out for some of the pitfalls that so often come with taking out a loan for many things.

Most of all, just read, read, read. The more you know about saving money the better chances you have of making more of it and creating wealth for yourself.

If you’ve ever been involved with a loan, be it a home loan, a car loan, a personal loan, etc, you’ve probably heard the phrase “prime rate.” But have you ever stopped to figure out what the US prime rate really is and what all that prime rate talk is about?

If you haven’t you should and we suggest going over to this prime rate website to learn a whole lot more about it and to regularly track what the US prime rate is.

In short, as mentioned in that site the prime rate is “is the interest rate charged by banks when they lend money to other banks.” This rate is then benchmarked off the US Fed Rate and what the chairman of the Federal Reserve is doing with the US lending rate, a rate that is used to keep inflation in check.

This fed rate fluctuates every quarter as the Federal Reserve tries to keep America’s spending habits in check, which over the past 10 years, it hasn’t been able to do!

The above mentioned site also has a good prime rate determining flow chart you can check out to see what factors are determining that loan you’re trying to get from your bank. So the next time you go into a bank or finance specialist and they say, “the loan will be 2 points over prime” you can know what they’re talking about and say, wow, that’s a lot.

This was a paid review of the above site that we though would help you learn a little more about prime rates.