If you do want to know about the financial tips for the first week of April 2013 in details, then have a look at the below given sections.
Tip no 1: If you love your 'money tree', then don't reveal your credit card number to an illegal payday loan lender.
Avoid revealing your credit card number to an illegal payday loan lender to protect your financial health. If an illegal payday loan lender asks you to reveal your credit card number over phone, then tell politely that you won't tell the number. Keep it in mind that once the lenders get to know about your credit card number, they'll debit a substantial amount of money. Illegal lenders are only entitled to get the principal amount. Don't think that they’ll only debit the principal amount. In fact, the lenders will debit more than what they're entitled to and this will harm your financial health.
Tip no 2: Find out your rights before doing a handshake with the payday loan lender.
Check out the state payday loan laws before working with a lender. Other than that, read the terms and conditions of the payday loan agreement. Find out if the fees, interest rates and other charges are clearly specified on the agreement. Ask yourself if you understand all the clauses. If you've any doubt, then call the lender and ask various questions about them. Keep it in mind that you can repay a payday loan before the due date. You shouldn't be charged extra interest rate or fee for that. Other than that, you can refuse to take out a loan after reading the contract.
Tip no 3: Don't fall for get-out-of-debt-fast schemes. It takes time to pay off your debts.
It is not humanly possible to get rid of debt quickly. Your debt house has been built bit-by-bit. So, it'll take some time to escape from the debt house. Usually, debt relief programs help you get out of the debt house within 2 and 5 years. If you file Chapter 7 bankruptcy, then it'll take around 3-4 months to kick out your debts. However, if you qualify for Chapter 13 bankruptcy, then you'll have to wait between 3 and 5 years to become debt free. So, you can very well imagine that time is an important factor. You'll have to wait patiently and give some time to eliminate your debts.
Tip no 4: If your friends are jealous of your financial health, then be happy. You're doing well.
Are your friends jealous of your financial health? If yes, then don't get disheartened or sad. Your friends are jealous because their financial health is not as good as yours. Be happy since you’ve a great financial health. Instead of getting depressed, take steps to make your financial health even better.
One more thing, your genuine friends will always be happy for you. If your friends are jealous of your financial success, then they're not your true friends at all. Don't count on them in your bad times.
Tip no 5: When you co-sign on a loan, consider it as your own loan and be prepared to pay for it.
You’re taking up a new financial responsibility when you become a co-signer on loan. Treat this loan, as your own loan for it will have a significant impact upon your credit score. If the primary borrower doesn't make timely payments, then your credit score will go down. In that case, you'll have to pay back the lender to protect your credit.
Have a look at your financial resources before taking the new responsibility. If you can’t afford to make payments, then don’t accept the new responsibility. It won't do any good to your financial health.