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The Rule of 72 is about the magic of compound interest. Albert Einstein supposedly once said that compound interest is “the greatest mathematical discovery of all time.” I don’t know if the legendary genius actually made such a statement. But if he didn’t, he should have.

The Rule of 72 is a rule of thumb that can help you compute when your money will double at a given interest rate. Just divide the annual rate of return you expect to receive and divide it into the number 72 and it will tell you how long it will take to double your money.

For example, if you can get 10% a year on your investments, your money will double every 7.2 years (72 divided by 10). If you can get 20%, your money will double every 3.2 years. If you can only get 5%, it will take you 14.4 years to double your money.

Of course, that’s with money working for you rather than against you. If you choose to have your money working against you rather than for you, the Rule of 72 will work in reverse. If you borrow $10,000 at 10%, and you don’t make any payments on your debt, in 7.2 years you will owe $20,000.

Credit card debt is the ultimate in having your money working against you. According to The Motley Fool’s Credit Center (http://www.fool.com/ccc/secrets/secrets.htm) here’s the reality of credit card debt…

If you have a credit card debt of $8,000 and you assume a 2.5% minimum monthly payment and a 18% interest rate, it will take 360 months (30 years) to pay your debt and you will pay the $8,000 plus $11,615.32 interest along the way.

You can have it either way. You can have the Rule of 72 and compound interest working for you or against you. The rich choose to have their money working for them. That’s why they’re rich. Too many other people choose the opposite course.

Larry Holmes invites you to visit http://www.smart-money-report.com/ Your common sense guide for financial and investment success.

FHA loans are loans that are insured by (HUD) Housing Urban and Development. FHA loans have been around since the 1930′s right after the “Great Depression.” This was when 4 out of 10 households owned a home. (FHA) Federal Housing Administration is the savior for our current market just like it was back during the roaring 30′s.With FHA loans especially during a credit crunch like we are currently are in, you can rest assure banks are willing to be more lenient to approve credit challenged borrowers with FHA financing. The reason is FHA loans are insured by HUD, and if the borrower looses the home HUD will pay a claim to lender for the loss. FHA is the largest single insurer of loans in the world.

FHA Advantages.

- Lower interest rates, typically interest rates are lower on FHA loans with the banks since they are government insured loans

- Only requires minimum investment from borrower of 3% down payment, which can be eliminated by Down Payment Assistance. So essential you can get a 100% financing with FHA loans. Note: Requires Seller participation

- If you have less than perfect credit you can typically can get a loan with FHA, they usually like to see 12 to 24 months clean credit report history. You can even get a loan while in chapter 13 bankruptcy.

- No Credit Score Requirement

- Recent loan limits increased-varies from state to state. For example you can buy a home in the state of Texas with FHA up to $271,050. Depending on if your state is a high cost area; obviously this loan limit would be higher.

- Will allow alternate lines of credit if not good history is on credit report.

Example:

1. Letter from any utility company stating you have been on-time with your payment history for that last 12 months.

2. 12 month payment history from car insurance company, cell phone company and even daycare will work.

If you are currently in the market to buy or maybe you feel like you need credit repair, what ever your direction is, getting a FHA loan is not as hard as you think. FHA gets people approved that may not get approved with other loan types. The first step is to examine where you are at with a lender and get the ball rolling. IN this current market some lenders are requiring you to either have a 580 credit score or higher. They will also allow no credit score but your interest rate is higher than current market rates. This is going on even though FHA has no credit score requirement; this is due to bad performance of loans below the credit score benchmark of 580.

About the Author: Mike Clover is the owner of http://www.creditscorequick.com/
CreditScoreQuick.com is the one of the top on-line resources for free credit score report, fico score, identity theft protection, secured credit cards, student credit cards , mortgage loans, auto loans, insurance and a BlOG with a wealth of personal credit information. The information within this website is written by professionals that know about credit, and what determines ones credit worthiness.

A great way to stimulate the economic rise of this country is by giving out federal tax rebate checks. All you need to do is pay for your income tax for the year 2007. You basically do not have to do anything to qualify for this rebate, just pay and then the IRS will do the rest.

The communication between the IRS and the taxpayer will be done through mail. So do not fall for scams that ask you to give out your personal information. They are not from the IRS. People from IRS cannot remind the people enough that they will be sending a notice; nobody from the IRS will call. They will send two notices that state about the federal tax rebate checks and the principle behind that and the second notice will tell the taxpayer that they are qualified to receive the check and the amount of money they get and the timetable of when they will be getting the rebate.

A lot of people are so angry with the government for giving the people such measly amount of money when there is a financial crisis going on. The crisis if felt everywhere. Banks, who in the past gave out credits like money was just tissue paper, are now cutting off their credit loans and are restricting their requirement so that they would be assured that the person will have the ability to pay back his credits. With all these going on, it is helpful of the IRS to give federal tax rebate checks to their taxpayers. The only problem is, some people think the amounts are too low and that these amounts would not change things very much.

But beggars cannot really be choosers. One should just accept their federal tax rebate checks and get on with their lives. Just think of it as bonus money for a job well done. In the past, we have not been receiving checks from the government, so we should just be grateful that this year is different. And how can one expect the government to give out more money than they can afford. The idea here is to stimulate the economy to get our country out of this crisis, not to push the government to bankruptcy.

Let us just receive the federal tax rebate checks with an open mind and hope that in the years to come, IRS would not need to rebate us with anything to stimulate us in getting our economy going.

Robert Grazian is an accomplished niche website developer and author.

To learn more about tax rebates visit Financial Freedom And You for current articles and discussions.

If you are unable to pay your debts and are facing bankruptcy, then an IVA or Individual Voluntary Arrangement might be the correct alternative for you. It is a formal repayment proposal arranged between you and your creditors through an Insolvency Practitioner. Under this program, you pay your creditors a percentage of what you actually owe them over a period of 5 years. The payment can be based on your capital, income, third party payments or a sum combined from these. Discussed below are the current features of an IVA.

Criteria:
* The amount of your total debt is above £15000.
* You have three or more creditors; these creditors cannot be from the

same lending institution.
* You have a fixed disposable income above £200 per month, assets whose

equity can be released or a third party that could make payments for you.
* You have enough allowance for your necessary expenses like food, utilities

and travel costs
* A nominees report from your Insolvency Practitioner which shows that an

IVA is a good faith offer from your side.
* Creditors that hold 75% or more of your debt must agree for the IVA to

be approved.

How an IVA functions
Once your application for the IVA is accepted, a repayment amount based on your current financial condition will be assessed. You have to make payments of this amount to your Insolvency Practitioner who will distribute it to your creditors.

Advantages of an IVA
* All interest and charges are frozen
* An Interim Order from a court of law can be placed which prohibits your

creditors from making any sort of demands.
* It is legally binding.
* Upon successful completion of your repayment, you will be considered

free from your debts regardless of the fact that you have not paid the

original amount
* It is a private agreement between you and your creditors
* It won’t stop you from continuing your professional career.

If you undertake an IVA program, you will have to give up your current credit like credit cards and store cards. You will also be forbidden to take additional unsecured loans while you are under the program. But such prohibitions are slight when compared to the fact that an IVA can save you from the public humiliation of a bankruptcy. It is rather a highly regarded and practical way of managing your debts.

Pamella Scott is an author who can certainly identify your kind of loan. An unprepared borrower might find it very confusing to get out of the jargon of loans in UK. To find IVA, secured loans, personal loans, debt consolidation loans, that best suits your need visit http://www.easyfinance4u.com

When I recently saw the President of the Pay Day Lender’s Association on TV the other day lecturing the viewing audience to “Never borrow more than you can repay in a short period,” I got sick to my stomach. I knew he was smelling blood!

He was clearly reacting to the increased desperation of the middle class American worker, falling further behind because of stagnant wages, rapidly rising mortage, gasoline and health care costs.

If you don’t take action to protect yourself and your family, now; from this increasingly predatory economy we live in; you will go right into bankruptcy, foreclosure or both, along with millions of your fellow middle class Americans.

Most of you are letting the government take 30-50% of your hard earned income in taxes every day, while tax the corporations and the wealthy ever more unconscionable and unfair taxbreaks.

Exxon/Mobile makes $9 Billion in profits in 1 quarter and ½ million middle class families will go bankrupt this taxes because they do not have $300/mo more income, which according to a Harvard researcher, Elizabeth Warren, is all that is needed for them to avoid bankruptcy!

There is no way the average person’s wages are going to keep pace with the spiraling cost of living, so the head of the Pay Day Lender’s Association wants to lend a helping hand, at 240% annual taxes of course.

Fortunately, there is another way. You can take back 10-25% of your hard earned pay check that you routinely let the government confiscate.

You can start a home based business and take advantage of the same tax system the corporations and the wealthy use.

You didn’t know there were two tax systems in this country?

Their tax system allows them to pay little to no income taxes, averaging around only 4-5%. You know too well what your tax system takes from you.

How would you like to be able to slash your income taxes and increase your take home pay by 10-25%, every pay day, starting now?

You must have or start a home based business. It must be run with the intent of making a profit, worked at least 20 hours per week and you must not co-mingle personal and business funds.

Once you have a home based business, you can learn how to redirect the money you are presently spending on supporting your lifestyle into expenses necessary to run your business.

Think about a simple trip to the mall on Saturday with your family to shop for a pair of shoes for your son. Tax deductible? A business expense? Clearly not.

However, what if you were to pick up a box of blank CD’s or a new ink cartridge for your business computer? Bingo! That trip has become a business trip! You can now write off the mileage to and from the mall, irrespective of the fact that you bought your son his shoes.

Come to think of it, how would you like tomake the purchase of your son’s new shoes a business deduction too? Impossible? Nope. Instead of giving him an allowance, give him a pay check! That’s right, put him and other family members on the payroll.

The IRS says that if the job is legit, the wages suitable for the work done and an actual pay check is cut, there is no problem with hiring family. In fact, they have given the green light to having children as young as 7 years of age, employed in family businesses.

All of these new found write offs add up to huge tax deductions, which means more take home pay.

An Extra Pay Check of $500-$1,000 every month for your family can make the difference between financial survival and financial disaster.

The key is to have a qualified home based business.

Copyright, 2007, Bill Young. Bill is a Personal Financial Consultant. He shows people How to Quit the Rat Race in 5 Years! He did it himself, in real estate. However, because of the current state of the real estate market, now favors home based businesses as the springboard out of the Rat Race. Click here for more info: http://www.linkbrander.com/go/48681 Call Bill for a free, no obligation 30 min consultation on your personal financial situation and how you can overcome the problems and become financially free in 5 years! 877-291-3642

It is usually wrong bankruptcy information, but some people actually believe that declaring bankruptcy will efficiently shove their debt under a carpet. Bankruptcy is not a situation anyone would want to be in, neither is it a condition to be taken lightly. Bankruptcy should only be filed when there are no other possible solutions, and this strictly means none at all. Also, having bankruptcy, or bankruptcy fraud, on your record is definitely not going to look good to future banks and creditors.

The best way to find out if you ought to file for bankruptcy or not is to hire a bankruptcy lawyer. A bankruptcy lawyer will be able to thoroughly assess your debt, credit report and all financial statements, This will help them determine whether you should file for bankruptcy or look at other options first. Under the new laws, you may not even qualify to file! So whether or not you qualify for bankruptcy, you would still need a lawyer’s services and advice. Also consider that most people have found that they will save much more than the lawyer’s fees in terms of what they save or what options they find as alternatives.

A qualified bankruptcy attorney will give you the best information available on bankruptcy and solve a lot of problems in the process. Many people believe that this is not the time to hire a bankruptcy lawyer and actually opt to handle bankruptcy on their own – this has been standard practice in the past, but that doesn’t mean it’s the best way to go. Especially with all the vast number of changes in bankruptcy law in recent years, using a qualified lawyer who is very familiar with the bankruptcy laws and especially the variations in your state, is definitely the most prudent way to go.

Actually, a lawyer can yield bigger savings than you think when filing for bankruptcy. Dealing with a huge debt, complicated assets issues and all related bankruptcy information may take some time to figure out, meaning you’ll be in debt longer, possibly even incurring newer, larger debt. A bankruptcy lawyer will figure all that out really fast and have you financially back on your feet in no time. In the end, hiring a lawyer will actually save you more money than if you tried to make it on your own.

Do be aware that this is only valid if you get a good, reputable lawyer. You may choose a lawyer for their cheap rates, but that could mean they’re not going to be of much help, or that they have “hidden” fees that come up and surprise you later on.

A good lawyer will offer alternate options, especially if you are not in dire straits with your debt as yet. These will include debt consolidation and credit counseling, which includes finding an agency that will make realistic payment arrangements on your behalf. Lawyers will also find several ways in which you can settle your debts, like taking out a new loan to pay off the existing debts. As this may be quite risky, having a bankruptcy lawyer work you through it will better guarantee its success.

A good bankruptcy lawyer will also advise you how to avoid bankruptcy for the future, which may be the best bankruptcy information available. This will include planning for the future, whether it’s as simple as a personal guided route or the extensive planning of a company’s financial structure and business plan.

For more insights and additional information about finding good Bankruptcy Information as well as getting a free bankruptcy evaluation from a qualified bankruptcy lawyer in your area, please visit our web site at http://www.bankruptcy-data.com

A number of clients have recently reported to their tax preparation services that they have been receiving calls from someone posing as a representative from the Social Security Administration. The caller began the conversation by talking about the pending Congressional leader’s announcement where a deal with the White House on the economic stimulus package would give most tax filers refunds of $600 to $1,200, and more if they have children. The caller went on to solicit from consumers their Social Security number stating confirmation of their number would ensure they received their rebate checks within the next 6 – 7 months.

The Social Security Administration is not making a conscience effort to confirm consumer identification numbers. You need to be aware that identity thief’s are however and they use a number of tactics to steal your identity. Spoofing is generally used by thieves as a means to convince individuals to provide personal or financial information that enables the perpetrators to commit credit card/bank fraud or other forms of identity theft. An attempt to fraudulently acquire sensitive financial or personal information, such as credit card information or a Social Security number, by impersonating a business representative or trustworthy person is also known as a Phishing attempt and is usually initiated through e-mail, phone calls or Instant Messaging.

Thieves do not just collect Social Security Numbers. They are also after your telephone taxes date of birth and your bank and credit card account numbers. This information is a personal asset as well and people who illegally solicit this information are also known as pretexters.

It is yet another name for identity theft and Pretexting is (like the other practices mentioned) a means of getting your personal information under false pretenses.

Pretexters sell your information to people who may use it to get credit in your name, steal your assets, or to investigate or sue you. Pretexting is against the law. Whether it is by means of Spoofing, Phishing or Pretexting the tactics are all designed to get your personal information.

According the Federal Trade Commission For example, a pretexter may call, claim he’s from a survey firm, and ask you a few questions. When the pretexter (let’s just call it a thief) has the information they want, it is used to call your financial institution.

The thief pretends to be you or someone with authorized access to your account. They might claim that they have tax their checkbook and need information about their account. In this way, the criminal may be able to obtain personal information about you such as your SSN, bank and credit card account numbers, information in your credit report, and the existence and size of your savings and investment portfolios.

Keep in mind that some information about you may be a matter of public record, such as whether you own a home, pay your real estate taxes, or have ever filed for bankruptcy.

It is not pretexting for another person to collect this kind of information. Identity thieves don’t just use the schemes we’ve just talked about to get your personal information they also procure your identity by:

* Stealing wallets, purses and your mail (bank and credit card statements, pre-approved credit offers, new checks and tax information);

* Stealing personal information you provide to an unsecured site on the Internet, from business or personnel records at work and personal information in your home;

* Rummaging through your trash, the trash of businesses and public trash dumps for personal data;

* Buying personal information from “inside” sources. For example, an identity thief may pay an employee for information about you that appears on an application for goods, services or credit.

Even though the laws are on your side, it’s wise to take an active role in protecting your information. The Federal Trade Commission recommends the following actions;

1. Don’t give out personal information on the phone, through the mail or over the Internet unless you’ve initiated the contact or know who you’re dealing with. Pretexters may pose as representatives of survey firms, banks, Internet service providers and even government agencies to get you to reveal your SSN, mother’s maiden name, financial account numbers and other identifying information. Legitimate organizations with which you do business have the information they need and will not ask you for it.

2. Be informed. Ask your financial institutions for their policies about sharing your information. Ask them specifically about their policies to prevent pretexting.

3. Pay attention to your statement cycles. Follow up with your financial institutions if your statements don’t arrive on time.

4. Review your statements carefully and promptly. Report any discrepancies to your institution immediately.

5. Alert family members to the dangers of pretexting. Explain that only you, or someone you authorize, should provide personal information to others.

6. Keep items with personal information in a safe place. Tear or shred your charge receipts, copies of credit applications, insurance forms, bank checks and other financial statements that you’re discarding, expired charge cards and credit offers you get in the mail.

7. Add passwords to your credit card, bank and phone accounts. Avoid using easily available information like your mother’s maiden name, your birth date, the last four digits of your SSN or your phone number, or a series of consecutive numbers.

8. Be mindful about where you leave personal information in your home, especially if you have roommates or are having work done in your home by others.

9. Find out who has access to your personal information at work and verify that the records are kept in a secure location. Checking your credit report annually can help you catch mistakes and fraud before they wreak havoc on your personal finances.

Order a copy of your credit report from the three tax mistakes consumer reporting companies every year. To order your free annual report from one or all the nationwide consumer reporting companies, call toll-free 1-877-322-8228, or complete the Annual Credit Report Request Form avail at their Website annualcreditreport.com and mail it to: Annual Credit Report Request Service, P.O. Box 105281, Atlanta, GA 30348-5281.

If you do not have the time or expertise to put measures in place to protect you and your family’s identity consider visiting a credit protection service that can put the appropriate measures in place to preserve your good name, credit and assets.

Ronald Hudkins is a published Internet author with a very high regard for consumer awareness. Despite over 2o years in law enforcement and working many jobs requiring a security clearance he once fell victim to credit theft as a result of a disgruntled employee selling information from personnel records. To find out how he supplements and protects his identity visit and review the program he uses at http://www.registryfixing.com./LifeLock.html

There are lots of ways to reduce the way in which an individual pays their debt. Some of these methods include debt management, declaring bankruptcy, bill consolidation, debt forgiveness, debt payoff, and debt settlement. Individuals who are trying to reduce their debt burden will need to consider their options in light of their situation; for many, bad credit debt consolidation will be the best choice.

Most people in debt find themselves there due to poor planning in terms of spending on credit cards. Credit card companies make their money through the interest rates they charge on purchases; these rates are often quite high and when the consumer finds himself unable to make a payment the interest charges, late payment fees and pother penalties which are injured add up so quickly that soon an individual will find themselves in a credit quagmire. This scenario is an ideal time to make the decision to debt consolidate.

The basic premise behind credit card debt consolidation is simple. An individual takes all of the balances owing on the various credit cards held and transfers them to one lender, with the idea that the interest rates paid will be lower than the amount charged by all the previous bills combined. One way to accomplish this is to take an advance on the introductory rates offered by another credit card which generally include a much lower interest rate and paying the money back using that formula. Beware, though; once the introductory rate has expired, your interest rates may again soar.

Another way to consolidate credit bills is to take out a secured loan. These loans are procured by putting up a secure asset such as a house or property against the amount of the loan. Once the loan is gained, the borrower can pay off the higher debt owed to the credit card companies and begin saving money by paying the lower interest rate of the loan. The money saved can be used to make bigger payments, which will also serve to reduce the money that is paid.

Remember that bad credit reflects very poorly on an individuals ability to get ahead in life, and sometimes even to maintain a standard of living. It is important to repair any black marks on your credit record as quickly as possible.

In addition to debt consolidation, people who find themselves in need of credit repair may want to consider the services offered by companies who offer consolidation loans. These services will help to gain some more peace of mind for the individual as the collection agencies cease calling about outstanding amounts and there is a little more money left over after the debt payment has been made. Gaining the consolidation will also put an individual in contact with a financial expert who can assist in finding ways to overcome bad spending habits. Remember that although debt and bill consolidation is an easy and usually safe way to regain peace of mind, it is up to the individual to make sure that they do not repeat the mistakes that necessitated the proceedings in the first place.

Barry Brokhard often creates online reports on news similar to debt consolidate and bill consolidation. Sharing his passion in documents on bad credit debt consolidation the columnist affirmed his capability on the topic.

Saving money is investing for your future. Yet, it can be a very difficult task for a variety of reasons. Some may find it hard to save because they can barely balance their expenses with their monthly income. Many can’t save money since they can’t help but spend their personal income to the last quarter. And, a few simply cannot see the value of storing the money that they worked so hard for.

Indeed the key to securing savings is to first realize why saving money is very vital for our existence. Below are some successful steps in helping you become a savings advocate:

• Realize that uncalled-for events may happen in the future. Let us face the fact that no matter what precautionary measures we take and no matter how we hope for the best things in life, some unplanned and unfortunate events may come our way. These include death, sickness, accidents, or natural disasters. Aside from being dreadful, these unplanned events often require you to spend so much money. Some may even disable your monetary resources as well. As such, before being confronted with a problem which harvests financial difficulties, it is best to be prepared and equipped.

• Realize that what you have now may not be there in the future. If you are in your prime years and your business or your career is in its full bloom, you may think that saving money is no longer necessary. Well, think again. It may be that your business will grow more profitable, or your career may continuously prosper in the years to come. But, you should also consider the troubling question- “What-if-it-doesn’t?” Yes, negative thoughts should not invade your personal outlook in life, but you ought to be wary of such unfortunate turn-out of events. So, while you are still capable of earning money, why don’t you consider saving some?

• Realize that saving money gives you a feeling of stability and security. If you live on an “earn-spend” basis, you are highly at risk of experiencing moments of financial instability, if not bankruptcy. However, if you have stored some of your wealth for future use, you can be assured that no matter what happens, you are capable of sustaining your daily existence. With a secured supply of money, you also grant yourself with feelings of financial stability and security.

• Realize that saving money is not a waste of time and effort. Your present needs mirror what you will need in the future. Not saving for the future is like throwing away the days ahead of you. Note that when you save money, you are welcoming the thought that you have upcoming expenses. Note that saving money is like opening your doors to many future opportunities. For example, if you are fortunate enough to have a continuous prospering business or career and if no unexpected financial disaster comes your way, the money you have saved will not go into waste. You can always use some of it for charity purposes, for a long awaited vacation for you and your family, for a brand new car or house, or as a capital for a new business venture.

The author of this article was Benedict Yossarian. If you have taken a loan out in the UK within the past 10 years it is quite possible it could be classed as an unenforceable loan agreement if any clerical errors have been made. Consumer Credit Claims can help receive financial compensation for these incorrectly drafted loans.

No matter how carefully you plan ahead you can never prepare for every eventuality that life reveals to you. There are times you may think fate is conspiring against you, it may seem like that but everybody experiences events in their life they can often well do without.

Many times you may find your finances stretched to the limit only to find another urgent expense you need to cover. Your wage check is only going to stretch so far and you don’t want to end up with lots of unnecessary bank charges and bounced check charges piling because you just don’t have enough money in your account to pay for them all.

At times like these you can turn to a payday loan, a short term cash advance to cover those immediate financial worries. You can borrow a small amount of money very quickly and get the cash paid straight into your bank account electronically. This means you can have access to your funds the very next day.

So what if you have bad credit, you don’t own your own home or car. Maybe you are in bankruptcy or have charge offs or NSF’s against you so you don’t have a very good financial record. This is not normally a problem when taking out a payday loan as you do not need to provide any sort of collateral such as when you borrow against your home or car.

To apply for a payday cash advance all you need to do is fill out an online form stating your details. There is not charge for applying and all your details are kept confidential. The form you fill in on the internet will be encrypted, payday lenders takes customers privacy and security seriously and take every precaution to ensure your details are safe.

Any personal loan including payday loans should only be used when an urgent need arises such as in an emergency. This form of loan is not designed to be used on a regular basis. If you find that your outgoings are regularly exceeding your income then you should seek financial debt management advice or counsel on your financial situation.

If you are in need of urgent funds then a payday loan is a fast and convenient way to get hold of the cash you need to meet those unexpected expenses. You can get approval within hours, sometimes minutes and have your loan paid into your account the next day. It is a fast way to immediate cash when you need it most.

Find out how you can get a payday loan quickly at http://www.paydayloansinstantadvance.com