Tag: finance

stash
Jul 19

Five Celebrities’ Financial Advice We Should All Follow

In a world where the rich keep getting richer and the poor keep getting poorer, it’s more important than ever to learn from those who have mastered their finances. While most of us aren’t lucky enough to have a personal financial advisor, we can look to celebrities for guidance. Here are five celebs whose financial advice we should all follow.

Fix Your Credit Score

You might not have guessed it, but a lot of celebrities often have a bad credit score since they spend money like there’s no tomorrow. For the rest of us, we should learn from our mistakes and make sure to keep our credit scores in good shape. Stan Lee and Stephen Baldwin don’t really use credit repair services, even though they’ve both filed for bankruptcy in the past. So, there’s a good lesson to learn somewhere from their experiences, guys.

Save, Save, Save

piggy bankNo matter how much money you make, it’s essential to save as much as you can. Celebrities are no exception. In fact, many of them are quite frugal when it comes to their spending.

For example, Tyler Perry lives very modestly despite being one of the wealthiest men in Hollywood. He is proof that you don’t need to spend a lot of money to live a comfortable life. After all, a having money saved is important for getting when you least expect it sometimes.

Don’t Put Everything Under Your Name

Most rappers tend to put their houses and cars under other people’s names to avoid paying taxes. While this might not be the most legal way of doing things, it’s certainly a smart financial move.

Invest in Yourself

investment portfolioOne of the best pieces of advice that we can learn from celebrities is to invest in ourselves. This means investing in our education, health, and relationships. By doing so, we can improve our lives both professionally and personally. For instance, Oprah Winfrey has a net worth of over $400 million, but she still continues to invest in herself by attending seminars and taking courses. After all, why would you want to put everything than you have to?

Don’t Be Afraid to Ask for Help

Last but not least, it’s essential to realize that we can’t do everything on our own. Sometimes, we need to ask for help from those who know more than us. For instance, when 50 Cent was starting out in the music industry, he asked advice from Sean Combs on how to make it big. So, don’t be afraid to ask for help when it comes to your finances.

Following the financial advice of celebrities might not make you rich overnight, but it can certainly help you get your finances in order. After all, they are some of the most successful people in the world. So, if they can do it, why can’t we?

two people holding a credit card
Apr 09

Ways to Consolidate Your Debts

The process of paying off your debt can be a long and exhausting process, especially if you have balances on several different bank accounts. Experts have repeatedly addressed such issues by stating that it is vital to pay only one bill and handle the other credit card debts. However, not all people are familiar with the process, and they often end up piling up larger debts and do not know what to do to pay it off. Fortunately, there are ways that one can do to consolidate debts without having to worry about making more debts. Thus, this article explains how one can settle the issue.

two people discussing finance

Balance Transfer

Things can get a little overwhelming if you are a type of person who cannot live without credit cards. Even, in some worse cases, people cannot live without one card and tend to have more than one cards. It is legal, of course. However, problems can appear once they have difficulties paying off all the cards. When this happens, a balance transfer is what they can do. They only need to transfer all the balances into one card while trying to handle the other credits. One thing to remember is that the account in which they put their balances should have a large limit to make sure the process will not disturb daily transactions.

However, if one finds it rather impossible, they can also opt to use a debit card instead of credit card. One benefit of this method is that the money that they will use daily is their money. Thus, at the end of the month, they do not need to pay for the bank credit since they have been using their own salary.

Consolidation Loan

a person holding dollar billsAnother possible method to settle the issue is to apply for a consolidation loan. The loan will help you combine all your credits to handle them easily. As it is a more popular option among people, choices are available. Major banks and big finance agencies may offer such a service, but it is not always the case. Thus, inquiries are vital before coming to one of such places to make sure you will get what you need.

Another thing to note from this method is that it often includes extra fees, and it may charges you higher interest rates. While negotiations are impossible at this point, the only thing that you can do is to compare all the loans to get the one with the lowest rates.