with the latest fiasco on Wall Street and the crisis in the housing market, have flipped lenders into tightening up their belts when it comes to granting loans and credit cards. Only borrowers with the highest credit score or those with good col laterals will be granted permission to join the soon to be prestige club of qualified creditors. Basically, the banks have become tight wads, not willing to part with much sort after money.
The economy have been piloted by banks willing to give away loans to even those that didn't meet all their criteria of a borrower. This new change in banking has put a damper on consumer spending. The eminent recession has put consumer in a spending freeze, they account for 2/3 of the spending in the economy.
The banks are becoming much pickier to whom they lend or how much they lend, these decisions are leaving marginal lenders in a pickle.
Consumers are going to have to have a job job before qualifying for a loan and they are going to have to make installment payments that will be higher per dollar that they borrow.
So, the bubble years are over and consumers have gotten a wake up jolt.
Sunday, September 21, 2008
Wednesday, September 17, 2008
Save on everyday Spending
The economy is in a serious slump and everyone is looking for ways to save on spending. Finding ways to economize and tighten belt will eventualloy put some extra cash in your bank account.
BRAND LOYALTY Yes, we all have a favorite brang but paying double for things that don't reaqlly matter is a waste of cash. Buy genjeric brand and save.
DON'T JUMP IN before you pay for a membership or pick up a hobby, sign up for a class or two to see whether you are cdommitted or not. If you decide to go ahead then, check out ebay amazon.com/auctions and overstock.com/auctions. You'l l be amazed at what you can find from overs that were overzealous and bought the whole caboodel.
BUYING FROM AN AD TV Informercials are produced to attract you and force you to purchase, the products are usually overpriced and hardly ever turns out to be as wonderful as you imagined. When tempted lookup the items on ebay and usually you will be able to find the same item at a fracdtion of the cost then, ask yourself why so many returns, that'll shake the need for compulsive buying.
FAILURE TO RETURN If you purchase something and it doesn't fit or the colour is wrong you should return it or it may end up costing you 100's with all the returns you don't return.If you have the reciept then take it back for a full refund and if you don't have the receipt atleast try for a for a store credit.
BRAND LOYALTY Yes, we all have a favorite brang but paying double for things that don't reaqlly matter is a waste of cash. Buy genjeric brand and save.
DON'T JUMP IN before you pay for a membership or pick up a hobby, sign up for a class or two to see whether you are cdommitted or not. If you decide to go ahead then, check out ebay amazon.com/auctions and overstock.com/auctions. You'l l be amazed at what you can find from overs that were overzealous and bought the whole caboodel.
BUYING FROM AN AD TV Informercials are produced to attract you and force you to purchase, the products are usually overpriced and hardly ever turns out to be as wonderful as you imagined. When tempted lookup the items on ebay and usually you will be able to find the same item at a fracdtion of the cost then, ask yourself why so many returns, that'll shake the need for compulsive buying.
FAILURE TO RETURN If you purchase something and it doesn't fit or the colour is wrong you should return it or it may end up costing you 100's with all the returns you don't return.If you have the reciept then take it back for a full refund and if you don't have the receipt atleast try for a for a store credit.
Monday, September 8, 2008
Keep Saving On Gas
With the cost of gas rising to new levels, saving money is on everyones mind, it's all about coping in hard times. The gas prices went up by $4.00 and barely trickled down by a mere $.50, nothing to get excited about. This is surviving the gas price war and finding ways to cope with the cost. While you cannot change the price of gas, there are things you can do to cut down on the amount we are consuming and that will end up saving you at the pumps.
Carpooling This is a great way to save on gas, joining in on carpooling with people heading in the same direction that you are.This way you can split the cost between two or three people instead of paying for the whole thing. You will get a chance to meet people that works in the same vicinity you work and the drive will be much more lively.
Combine your trips Plan your trips to accomplish all the errands you need to do. Try to do as many bthings in one trip which will end up saving you at the gas pump and avoid as much backtracking as possible.
Avoid rush hour traffic
All that stopping and starting in the rush hour traffic is not only annoying, but a waste of gas! Try to leave a little earlier or a bit later, you can avoid that rush and be able to drive at a more steady pace and save your nerves.
Consider buying a more environmental friendly car
If you are in the market for a new car especially if you do alot of travelling then, your best bet is to purchase an evironmentally friendly car. Consider buying a hybrid car or one that's more efficent on fuel, this may cost you more upfront but will save you big time on gas for many years to come.
Keep vehicle including tires maintained
Vehicles should be tuned up on a regular bases, having spark plugs changed and oils topped up. Tires that do not contain enough air will cause your vehicle to use more gas. check the air pressure on the tires monthly. Tires are an expensive investment and should be care for to get the best performance.
Carpooling This is a great way to save on gas, joining in on carpooling with people heading in the same direction that you are.This way you can split the cost between two or three people instead of paying for the whole thing. You will get a chance to meet people that works in the same vicinity you work and the drive will be much more lively.
Combine your trips Plan your trips to accomplish all the errands you need to do. Try to do as many bthings in one trip which will end up saving you at the gas pump and avoid as much backtracking as possible.
Avoid rush hour traffic
All that stopping and starting in the rush hour traffic is not only annoying, but a waste of gas! Try to leave a little earlier or a bit later, you can avoid that rush and be able to drive at a more steady pace and save your nerves.
Consider buying a more environmental friendly car
If you are in the market for a new car especially if you do alot of travelling then, your best bet is to purchase an evironmentally friendly car. Consider buying a hybrid car or one that's more efficent on fuel, this may cost you more upfront but will save you big time on gas for many years to come.
Keep vehicle including tires maintained
Vehicles should be tuned up on a regular bases, having spark plugs changed and oils topped up. Tires that do not contain enough air will cause your vehicle to use more gas. check the air pressure on the tires monthly. Tires are an expensive investment and should be care for to get the best performance.
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