The Misunderstanding Of El-Erian’s Cash Position

by Shelton on April 30th, 2015

filed under Business Loans


  • When someone, particularly an individual such as El-Erian who used to manage the Harvard Endowment Fund, suggests they are in cash due to a valuation concern, it does not mean that they will never be invested ever again.
  • Due to the ongoing central bank interventions globally, asset prices and valuations have been inflated to levels that have historically proven to provide very low or negative forward returns on invested capital.
  • Given the impact of two very nasty bear markets since the turn of the decade, it is not surprising that a large majority of the population has little or no money invested in the financial markets.
  • So, while the media pins El-Erian as crazy for being in cash; he may just be crazy like a fox.

Millennials most confident generation about their credit scores

by Shelton on April 30th, 2015

filed under Credit Scores

Millennials, ages 18 to 34, are the most confident generation about their credit status, with nearly three in five Millennials saying they would be comfortable disclosing their credit score to their parents, compared to only 35% of Generation X, according to the new Chase Slate Credit Survey.

The survey looks at different generational views on credit scoring. The survey found that while the vast majority of Americans (90%), recognize the importance that access to credit plays throughout their life, when it comes to awareness of their personal credit health there are gaps.

Although Millennials may be the most confident, they have a different view of what a good credit score is compared to their predecessors. Baby Boomers consider a good score on average to be 726, higher than Gen X (712) and Millennials (695).

Nearly four-in-ten Americans (39%) admit they do not know their current credit score, and more than half (52%) do not know that paying bills on time is the factor that has the largest impact on their credit score.

However, Gen X-ers, ages 35 to 49, know the most about their credit scores. Just 4% of Gen-Xers say they have never checked their score, compared to 19% of Millennials and 13% of Boomers.

Additionally, a majority of Gen X-ers (67%) claim they know their score, trailed by 60% of boomers and 55% of Millennials.

As for why, the survey suggests that hindsight has something to do with it. More than 62% of Gen X-ers claim they would have benefitted from knowing their credit score at some point in their lives.

Click to enlarge

Source: Chase

Debt Consolidation USA Shares Tips To Prevent Losing Steam With A Side Hustle

by Shelton on April 30th, 2015

filed under Debt Consolidation

Debt Consolidation USA shared in a recently published article how consumers who are dealing with side hustles might prevent a potential burn out. The article points out some useful tips to keep motivated with the part time job to keep that additional income in the household budget.

New York, NY (PRWEB) April 10, 2015

Debt Consolidation USA shared in a recently published article how consumers who are dealing with side hustles might prevent a potential burn out. The article titled “Are You Losing Steam With Your Side Hustle?” points out some useful tips to keep motivated with the part time job to keep that additional income in the household budget.

The article starts off that in a consumer driven economy where purchasing power is one of the main drivers, having a side hustle becomes a very important financial venture. This is especially true for people that are already living from paycheck to paycheck or even those that are underemployed. The additional money that comes from part time work becomes a valuable financial lifeline.

As a side hustle is oftentimes on top of regular job, it is easy to understand why some people might lose steam down the line. This is where the article comes in as it points out some of the more common cures to save a person from burning out. One of which is being able to multi task with work.

It can be confirming cupcake orders during a lunch break or watching how-to videos to and fro work in commute. The article points out that it is critical that people do not multitask incorrectly like texting and driving or baking for hours when the kids are in the pool playing. That is why the article also points out that people should consider getting help if they need one.

This means that if getting a nanny for a few hours can let them bake those ordered cakes, then they should do so. If it means being able to take up that photography job for half a day, then they should go ahead and consider getting help. It brings in more in the long run when compared to getting hired help around the house.

To read the full article, click this link:

For the original version on PRWeb visit:

Money Smart Week aimed at credit score education, helping first time …

by Shelton on April 30th, 2015

filed under Credit Scores

PEORIA Since money doesnt come with instructions, financial institutions have banded together over the next week to provide some help.

Money Smart Week runs from Saturday to April 25. The program, sponsored by the Federal Reserve Bank of Chicago, offers information on everything from the ABCs of home ownership to retirement planning.

Larry Nelson, this years Money Smart chairman for the central Illinois effort, will offer three programs during the week on credit reports. I call the program, lsquo;Credit Scores: the Silent Killer, he said.

Nelson said there was good news on the credit front following a new policy agreed to by the three major credit reporting agencies Equifax, Experian and TransUnion earlier this year.

The credit agencies have agreed to establish a 180-day waiting period before medical debt is added to someones credit report, he said.

Medical bills are by far the largest factor on credit reports across the country, accounting for 52 percent of overdue debt that shows up on credit reports, said Nelson.

For 15 million people, medical debt is the only debt they have in collections on their credit report, according to a report issued last year by the Consumer Financial Protection Bureau.

People dont realize how important credit scores have become, said Nelson, a former bank official who now heads Central Illinois Credit Seminars.

Credit scores could determine what you pay for insurance as well as how much deposit you pay your landlord, he said.

Nelson will hold credit classes at the Hy-Vee store in Sheridan Village at noon on Monday; at Alpha Park Library in Bartonville at 10 am Wednesday and at the Chillicothe Library at 6 pm on Thursday.

Christie Cook, a mortgage lender with the Heritage Bank, said a program for young children (K-second grade) is scheduled at 10 am Saturday across the community. Well be reading an educational book to children about working together and making money, she said. Programs will be held at the Peoria Public Librarys north, Lakeview and Lincoln branches along with the Peoria Heights Library, Alpha Park Library and United Presbyterian Church, 2400 W. Northmoor Road.

Cook is also involved with first-time homebuyer classes. The basic message is to find out what a person can afford. Finances are number one. We try to instill an awareness of budgeting besides the house payment, she said.

Cook said the housing market is still recovering. Qualifications (for loans) have become more stringent. Ive been a lender for 23 years. There are some (lending) programs I wish we could bring back but some werent realistic. People just didnt understand what they were getting, she said.

Lil Wayne Not Dropping Lawsuit Against Cash Money

by Shelton on April 29th, 2015

filed under Business Loans

Lil Wayne has not dropped his lawsuit against Cash Money, contrary to reports. Kevin Mazur/AMA2014/WireImage/Getty

Contrary to media reports, Lil Wayne has not dropped his $51 million lawsuit against Cash Money Records. Lil Waynes lawyer, Ron Sweeney, tells Rolling Stone that while the original suit was filed in New York, where both Cash Money and Universal Music Group have offices, the two sides have worked out a deal to re-file the suit in New Orleans, Louisiana, where Wayne originally signed his Cash Money contract in 1998.

We gave them until [Monday], April 6th to file an answer, Sweeney says. [Cash Money] said they were going to challenge the venue, so at that point, it was a waste of time and money, so we all agreed that we would dismiss the action [in New York] and Wayne and [his record label] Young Money would re-file in New Orleans.


How does refinancing work?

by Shelton on April 28th, 2015

filed under Debt Consolidation

It may or may not be the right time though.  If you choose to refinance, there are costs associated with doing it; therefore, you should ask yourself, #x201c;How long do I expect to live in my home?#x201d;

Will you remain in your home long enough to recover the closing costs?  If so, then pursuing a refinance of your current mortgage is worthy of serious consideration.  Popular in today#x2019;s environment is to have the lender pay your closing costs.  For a slightly higher than market rate, you may be able to refinance without adding on to your mortgage or having to pay your costs at the closing.  Ask your lender if this is a good option for you.

Contact the bank that currently holds your mortgage or contact a local mortgage lender such as MSI.  You can call 815-207-8900 or visit 311 Vertin Blvd., in Shorewood to meet with one of their loan officers.  It#x2019;s important to contact a mortgage lender such as MSI.

A refinance may be done in less than 30 days, and you may soon be enjoying the benefits of a lower rate, shorter term, or cash out for debt consolidation or other purposes. 

Make an appointment today with one of MSI#x2019;s loan officers by calling 815-207-8900 or dropping by 311 Vertin Blvd, in Shorewood.  You can also apply on-line, at

Remember, Mortgage loans are subject to qualification; credit review and approval; receipt of satisfactory appraisal; and verification of income, assets and debt information.   2015 Mortgage Services III, LLC, a subsidiary of First State bank, Member FDIC, Equal Housing Lender.  NMLS #172606

Click here for additional articles sponsored by this business

Women in F1: A missed opportunity

by Shelton on April 27th, 2015

filed under Personal Funding

With talk of an all-female F1 championship unlikely to get the support it needs, Kate Walker highlights the plight of Simona de Silvestro 

Formula One suffers from a myriad of problems, many of them with their roots in the sports financing. F1s myopic approach to decision-making has led to all manner of bad news stories in recent years, and much ink has been spilled in covering them on this blog. Its getting rather old.

One individual bad news story that has repercussions on the sport as a whole was the missed opportunity relating to Simona de Silvestro, the only current female racing driver with a viable chance of success in Formula One. Having signed up with Sauber, de Silvestro was unable to provide the funding needed to secure any seat time with the team, and after a year spent out of the cockpit she returned to IndyCar for a one-off race with Andretti Autosport in the hopes of securing a longer-term deal.

Of course, had de Silvestro managed to complete the deal with Sauber last year, the Swiss team would have found themselves with an even greater glut of contracted drivers than was the case at the opening round in Melbourne. In some respects, it represented a lucky escape for the woman who sat out of racing for 2014 with the aim of breaking in to F1.

Im not a victim; I think just that Formula One right now is a lot about money, she told the Tampa Bay Times in the run-up to last weekends IndyCar round in St Petersburg, Florida. Unfortunately I wasnt able to raise that money. Theres a lot of really talented drivers out there who are not really getting a shot right now. I think thats what IndyCar is doing right, they are giving the opportunities. … A lot of us got promised a lot of things that didnt happen [at Sauber]. F1 is a dream, but I want to be racing.

Unlike Lotus development driver Carmen Jorda, Simona de Silvestro has a creditable racing career. In 2009 she finished third in the Champ Car Atlantic championship, collecting four wins, four second-place finishes, and a third place, finishing nine of that years 12 races on the podium. Her IndyCar career has yet to deliver a win, but 50 races have seen a dozen top-ten finishes and one second-place.

Given competitive equipment there is no reason that de Silvestro would not score points in Formula One, even if few would call her a champion in waiting.

A competent female racing driver is exactly what the sport should be seeking at the moment. De Silvestros lack of personal funding would be mitigated by the increased fan and sponsor interest in the sport once it became apparent that the Swiss racer has the talent to back up the inevitable media interest in a woman competing in a mans world.

Susie Wolff receives acres of coverage for her work with Williams, despite her cockpit time being limited to the occasional outing in FP1 and test sessions. To have de Silvestro lining up on the grid in the heat of competition would be broadcasting gold, and any team with the nous to take her on without demanding piles of personal sponsorship would soon find added interest from blue-chip companies keen to trumpet their female-friendly credentials.

Gender disparity is not just found on racetracks, after all, but also in the boardrooms of those companies F1 would like to see as sponsors. Trumpeting support of a female racing driver may not be a replacement for putting women on the board, but it is a handy – and relatively cheap – distraction with which to placate the general news media.

Given his willingness to trumpet F1s need for a talented female competitor, it is a shame indeed that Bernie Ecclestone has chosen to give his support to Carmen Jorda, and not backed the one current contender with a realistic chance of on-track success.

Credit scores and mortgage loans

by Shelton on April 26th, 2015

filed under Credit Scores

Special to The Washington Post.

_ If your score is below 620 to 640: An FHA (Federal Housing Administration) home loan is your best option because most lenders wont approve a conventional loan for borrowers with a credit score below 640. In addition, your interest rate would be much higher on a conventional loan even if you are approved.

_ If your score is between 640 and 740: You should compare your options for both FHA and conventional loans because while you can likely qualify for both, your interest rate will be higher for a conventional loan. However, your mortgage insurance is likely to be higher with an FHA loan.

_ If your score is above 740: Your best bet is likely to be a conventional loan because your credit score qualifies you for the lowest interest rates. Conventional loans are available now with a down payment as little as 3 percent.


Debt Consolidation USA Shares How To Prepare Finances For Unexpected …

by Shelton on April 25th, 2015

filed under Debt Consolidation

Debt Consolidation USA shared in a recently published article how consumers can get their finances prepared for unexpected expenses. The article helps people look at various ways to prime their financial resources to address emergencies.

Miami, FL (PRWEB) April 17, 2015

Debt Consolidation USA shared in a recently published article how consumers can get their finances prepared for unexpected expenses. The article titled “Preparing Your Finances For Unexpected Expenses” helps people look at various ways to prime their financial resources to address emergencies.

The article starts of by explaining that the country was recently hit by the Great Recession that there were people who struggled to get their finances in order primarily due to job loss. People were getting laid off from work and most were struggling to find employment because the economy was tough.

One way to help prepare for unexpected expenses as the article explained is to have strong reserve funds. This covers not only the emergency fund but the rainy day fund as well. Both funds cover unexpected expenses but the smaller ones are usually covered by the rainy day funds and the bigger ones like losing a job is for the emergency fund.

Another way to cover unexpected expenses is to have diversity in income. As the article explains it, it can be a second job or even cashing in on hobbies and making money off of it. The idea is that if the main source of income is affected, there are other sources of funds that consumers can use.

This is almost the same as having a back-up plan with everything you do to as little as having extra light bulbs and fuses around the house to as big as working on your hobby in case you get laid off. The idea is to always be flexible enough to address unexpected expenses in the household budget.

The article also explains that people who strives to reach retirement early enough are better prepared to face unexpected expenses because they would have the funds to cover the emergencies. It is just important to not plan around the average assumptions when looking at retirement funds. To read the full article, click this link:

For the original version on PRWeb visit:

Consumer tips: Take charge of credit scores for healthy finances

by Shelton on April 25th, 2015

filed under Credit Scores


Healthy credit can give consumers the financial edge they need to achieve milestones like buying a home or an apartment, financing an advanced degree, purchasing a car, funding a passion project or getting a small business off the ground.

However, many consumers may not understand the importance of credit health and the major role credit plays in their life, both today and in the future. Mike Sullivan from nonprofit credit counseling agency Take Charge America shares some credit knowledge that all consumers need to know.

1. A credit score below 680 will cost you money – a low score means higher insurance rates, fewer job options, higher interest rates on credit cards and loans, and therefore higher costs for many life necessities.

2. Your credit report probably has an error on it – Credit reports frequently have errors, and some of them can be costly and even be evidence of fraud. Checking credit reports regularly is critical to avoid serious consequences.

3. The credit score you see is not the same as the one lenders see – There are mortgage scores and auto loan scores that are specific to certain kinds of lending. These are somewhat different from the score a consumer buys.

4. Having poor credit does not keep you from getting credit – Even bankruptcy filers are offered credit. It just happens to be on terrible terms. Poor credit usually means paying more for credit rather than not getting credit.

5. Credit ratings go down faster than they go up – A 30-day late payment might cost you 10 points. Paying that bill on time next month will not raise your score 10 points. It takes months of good behavior to recover from one mistake.

For more information or financial advice for credit counseling, housing counseling, student loan counseling and debt management services, contact Take Charge America.

Take Charge America
(888) 822-9193