"Is Your Bank Ripping You Off ?"

The entire globe is in a tail spin economically due to fraud involved in American bank mortgages. The government, controlled by those who have the most to spend is providing the golden parachutes to those who committed crimes against the American home owner. Yet consumers are left with only the new awareness of all the unsuspecting frauds, and the ability to exercise extreme caution. Financial literacy does pay !

Banks will not offer anything that will benefit you unless prompted, no matter how high your credit score. The best customers with clean credit ratings, ongoing relationship with the lender and adequate collateral still have to ask for the loan rate to be lowered by one-half to one percentage point. It is your financial life, it is up to you to be prepared to go in fighting for the best deal you can get. And you must be prepared with knowledge and options to negotiate any terms to your benefit.

When taking out a loan, tell the loan officer you don’t want ‘Credit Life and Disability Insurance’ on your loan. This insurance cover’s the bank’s interest – not yours. While not required, such insurance is often slipped into the loan, increasing its cost, without the customer knowing or understanding that it is a charge that can be refused. This added premium is then subject to hidden finance charges over the entire life of your loan. Check with your own personal insurance man for his opinion of what will cover your needs.

Bank’s marketing strategy is to collect as many fees as possible. Overdraft checking fees is their favorite! They will allow you to even over charge on your debit card, of course, you find out later when you receive the notice of the fee. Ask your bank to ‘red flag’ your account, usually a no cost service. With the account red flagged they should call you to notify of the overdraft. IF you can cover the overdraft that day, the bank normally waives any overdraft fees.

Shop and compare banking fees and options when considering opening up a checking account. One I found even charged you to close the account. Please be aware of the small print, ask and compare before signing anything.

Please contact your personal credit risk assessment planner at SPECTRUM RESOURCES to learn more ways to live inside your income. Call 863-967-0660 or email: SpectrumResources@tampabay.rr.com and visit all our blogs to learn more: http://moneysavingtips.polkvoice.com/ and http://spectrumresources.wordpress.com/ and come back to: http://financialeducationandoptions.blogspot.com/

Tax exempt donations are always welcomed to help us help others with financial education. Mail to: SRDC 2014 Brentwood Dr. Auburndale, FL. 33823

"Are You A Good Spender ?"

You are probably chuckling about that question: “Are You A Good Spender?”. The entire globe knows Americans are good spenders, however, the lesson today is more self evaluation. Enclosed are 20 questions with a score to help you determine just how good you are.
Spectrum Resource’s mission is to provide you with education, resources and options to achieve your financial goals. Use this audit of your spending life-style to see where your strengths are and where your weaknesses are. Use a sheet of paper and answer with the following 5 responses:

1) totally like me
2) A lot like me
3) Equally like and unlike me
4) A little like me
5) Not like me at all

____ 1) I put a small amount of cash aside as savings each time I receive any money.
____ 2) I usually deposit into a savings or special checking account each time I receive any money .
____ 3) I keep track of the money I receive from all sources.
____ 4) I set aside a predetermined amount of my cash for regular weekly expenses.
____ 5) I set aside at least five percent of the money I receive for my emergency fund.
____ 6) My money is managed according to a written spending-plan.
____ 7) My food, grocery and household spending is planned in advance and done with a list.
____ 8) I rarely make less than two trips-a-week to a grocery or convenience store.
____ 9) Grocery, household coupons and manufacturer rebates are used whenever possible.
____10) For practically every purchase I make I do comparison shopping for price, value, and quality.
____11) I do not have credit cards with a balance due.
____12) I do not have any loans with a balance owed.
____13) I normally compare prices and value for both food and clothing.
____14) I do not dine/eat out more than once a-week.
____15) I have received my earnings statement from the Social Security Administration.
____16) I account for all my cash spending by collecting receipts and noting what is bought.
____17) I balance my checking/share draft accounts with each statement received.
____18) I have looked into joining or I am a member of a credit union.
____19) I am saving money toward a education or a special big goal.
____20) I have given money or food to a less fortunate individual within the last month.

Total up your points for all 20 questions
17-27 points - Terrific! - Teach others.
28-42 points - Pretty good - Stay Up-to-date
43-58 points - Average - A class will be helpful
59-74 points - Lousy – Make needed changes
75+ points - It Stinks! –

Call today ! Spectrum Resources offers education, resources and options that can help you. ( 863) 967-0660 Learn how you can deal efficiently and effectively with creditors. How you can structure a plan to get out of debt. Come back to our blogs to learn how you can take control of your financial life ! Our email: SpectrumResources@tampabay.rr.com

Put into your favorites and visit often to learn more on our family of blogs: http://moneysavingtips.polkvoice.com/ and http://spectrumresources.wordpress.com/ and http://financialeducationandoptions.blogspot.com/
If you want to swap links to promote self sufficiency through online networking contact us.

Spectrum Resources is not funded and accepts all tax exempt donations. If you are learning from our Personal Money Management Lessons posted for your benefit, with every $10.00 donation we will mail you a “Hey! Where’s My Money” book authored by Janet Shore a certified credit counselor . A little book with a big message ! Excellent as a gift for a young couple starting out, a college student, or anyone who is starting over and wants to learn how to take control of their financial lives. It’s insightful and motivating. Use our online check processor: www.Checkman.com/pay4it/12985 or mail a money order to: SRDC 2014 Brentwood Drive Auburndale, FL. 33823