"Looking Good During The Bad Times" Lessons In Debt, Credit And Home Ownership

"Looking Good During The Bad Times” is not a lesson in fashion, but one about making the most of what you have in regards to your largest investment – your home ! Your home may have dropped in value like your neighbors, but it doesn’t have to look like it. IF you have found more time on your hands due to employment cut backs, take advantage of the time. Structure a “To Do List”, every home owner should have one of these stuck on the refrigerator even during the best of times.

You’ve probably heard your Granny say, “No matter how broke you become, you can always be clean.” Old wives tales do hold a bit of wisdom in them. The fact remains, clean, shiny and pretty is better than dirty, ugly and unwanted. If you are facing any kind of financial crises at all, you must protect your largest asset. If any equity is to be realized, more will come from your home looking good than neglected and dirty.

It’s called ‘ROI’=Return On Investment. You can experience in the worse of times a positive ROI in your home by taking little actions that can produce big reactions and
profitability. Increase the curb appeal on your home by removing outside clutter. Sweep the walks and driveway. Cut grass and trim out dead wood in trees and bushes. Pressure wash your shutters, window sashes, and trim. Put a fresh coat of paint on the front door and perhaps a shiny new kick plate at the bottom. Clean the light fixture of birds nest and cobwebs.

Next walk through your home. Really look at it as if you were to buy it today. The stained flooring, the soiled wall paper, chipped paint, hand prints on the cabinets, broken tiles, hardware loose, uneven and cluttered pictures or wall hangings and all waiting to be put your ‘To Do List”. The biggest challenge is eliminating clutter. If you can’t bring yourself to make all of those tiny decisions, call in your toughest friend and give the ‘OK’ to be strong for you. The point of this lesson is to maximize what you have in time, and assets. You will feel good about your ‘ROI’ while making your house a more comfortable home. Clean is good and it’s affordable !

Spectrum Resources provides counseling in daily money management, providing education, resources and options to those seeking financial self sufficiency. Debt, credit and home ownership issues always comes back to you setting priorities that make a positive difference in your life. Only you can make the decisions which truly make a difference.

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Call ( 863) 967-0660 or email: SpectrumResources@tampabay.rr.com and visit our sister blogs: http://moneysavingtips.polkvoice.com/ and a new one http://womantowomanmagazine.ning.com/ and http://spectrumresources.wordpress.com/

"Knowing What 4th, 8th and 12th Graders Know"

You have a challenge as a parent to instill financial competency, but what should they know at what grade level ? As a parent, it is scary because you know many adults are having trouble maintaining credit worthiness. The good news is there are goal lines for the average fourth, eighth and twelfth grader that will tell you if your child have achieved the basic competency skills to ensure future success in managing money.

A fourth graders should know that credit is a basic financial tool. That using a credit card is borrowing money and you will pay more than if you purchased something with cash. And with credit comes trust, responsible borrowers repay as promised proving they are credit worthy and maybe able to borrow in the future.

An eighth grader should be able to compare cost and benefits especially when using credit. They should also realize that usually the longer the loan period, the smaller the payment, but the larger the debt, again because credit is involved.

Eight graders should know there are different kinds of credit sources and be aware of the functions of credit bureaus. Just like in school, debtors have a report card. But the most important lesson to get through is the consequences of their actions such as repossession and garnishment.

Twelfth graders of course should have surrounded the knowledge of a fourth and eighth grader, plus more. Twelfth graders should know of the entrapment and cost of leasing, and rent-to-own, contracts, terms and contracts. They should understand how making minimum payments increases cost, and to know credit card disclosures hold few points to their benefit. They should know there are always options, but to learn what questions to ask and understanding the differences prior to making a final decision. Also know that bankruptcy is the very last result and has serious negative consequences, plus carries a long term negativity result on credit history .

Twelfth graders are old enough to understand there are laws and regulations that offer specific protection for borrowers. And for self preservation and future growth, they really should learn what their rights are and how to effectively and efficiently exercise them.

Spectrum Resources offers individual and family counseling in debt, credit and home ownership issues that assist in making the grade easier. Call (863-967-0660 or email: SpectrumResources@tampabay.rr.com Remember to put our blogs in your favorites:
http://moneysavingtips.polkvoice.com/ and http://spectrumresources.wordpress.com/ and this site: http://financialeducationandoptions.blogspot.com/