"AARP" - A must visit site for people age 50 and over

It is a fact that old age people are a vital part of the society and these facts and figures show the importance of old age. As the great wave of the boomers move into the second half of their lives, the 50+ market will be more active, healthy and independent than ever before.

Some facts about the people over age 50:

- The 50+ market makes up 35% of the US population.
- People over 50 control 75% of the nations wealth.
- 50+ users make up a third of the online population.
- In 2007, 50% of Boomers will be over 50, and in 7 years the last boomer will be 50 years old. 4
- Boomers spend $2 trillion on goods and services annually.
- 89% of Boomers advise their friends on purchasing decisions, and 93% of boomers identify their friends as trusted sources.

AARP American Association of Retired Persons, is a United States-based non-government organization. It is a nonprofit, nonpartisan membership organization for people age 50 and over.

It is dedicated to enhancing quality of life for all as we age," which "provides a wide range of unique benefits, special products, and services for our members." AARP operates as a non-profit advocate for its members, one of the most powerful lobbying groups in the United States, and also sells insurance, investment funds and other financial products. AARP claims over 38 million members, making it one of the largest membership organizations for people age 50 and over in the United States.

Mission: (In their words)
AARP is dedicated to enhancing quality of life for all as we age. We lead positive social change and deliver value to members through information, advocacy and service. AARP provides a wide range of unique benefits, special products, and services for members.

These benefits include AARP Web site at www.aarp.org, "AARP The Magazine," the monthly "AARP Bulletin," and a Spanish-language newspaper, "Segunda Juventud."

Active in every state, the District of Columbia, Puerto Rico, and the U.S. Virgin Islands, AARP celebrates the attitude that age is just a number and life is what you make it.

AARP Services manages the wide range of products and services that are offered as benefits to AARP’s 38+ million members. The offers span health products, travel and leisure products, and life event services. Specific products include Medicare supplemental insurance; member discounts on rental cars, cruises, vacation packages and lodging; special offers on technology and gifts; pharmacy services; legal services; and long-term care insurance.

Foundation programs provide security, protection and empowerment for older persons in need. Low-income older workers receive the job training and placement they need to re-join the workforce. Free tax preparation is provided for low- and moderate-income individuals, with special attention to those 60 and older. The Foundation’s litigation staff protects the legal rights of older Americans in critical health, long-term care, consumer and employment situations. Additional programs provide information, education and services to ensure that people over 50 lead lives of independence, dignity and purpose. Foundation programs are funded by grants, tax-deductible contributions and AARP.

The AARP Online Network reaches them with more content, more variety, and more relevance than any other network.

Reaches over 2 million unique visitors with relevant content categories:

Travel
Health
Money and Work
Learning and Technology
Fun and Games
Family Home and Legal
Issues and Elections

Few offers from the site:
* AARP offers a number of free booklets on topics that are of special interest to Americans who are 50+. Topics like health insurance, grandparenting, Medicare, financial planning, staying healthy, and consumer protection.

You can request a free print copy of these popular AARP guides. Each is available also in Spanish.

For each booklet you would like, click the checkbox*. Then complete your name and mailing address, and click on "submit." It may take 2-4 weeks for delivery.
Topics covered are:
- Medicare and Other Health Insurance As You Retire
- Job Hunting: Your Guide to Success
- Personal Medication Record
- Healthy Credit
- Consumer Protection: A Guide to Your Rights and Choices
- Borrower's Guide to Home Loans
- Taking Charge of Your Health
- Physical Activities Workbook

Sign up here: Popular AARP Booklets

To get most from the site:site map

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Need of financial education for teens

It is very important for teens to learn about money or finance management as majority of them doesn't live in reality world(as a survey result shows). The money or finance management at this age would be a precious lesson which can help them make important and valuable financial decisions in later life.

This survery report from "The National Consumers League", which was conducted to test teens’ knowledge of financial issues; examine their attitudes toward money, work, and savings; and assess how they plan to deal with credit cards and other loans:

A Teen Research Unlimited study found that American teens spent an average of $104 per week in 2001, a total of $172 billion. And yet, research shows they are lacking the skills to deal with their finances responsibly.

The National Consumers League commissioned a survey by Opinion Research Corporation International that tested teens’ knowledge of financial issues and examined their attitudes toward money, work, and savings. It also questioned how they plan to deal with credit cards and other loans. Findings showed that, while teens are thinking about saving, paying for college, and obtaining credit cards, they may not have a grasp of exactly what a credit card is, how much of college expenses their parents can pay, or what they’ll make when they get their first job.

Work, Money, and Savings:

Saving money is important to teens; but------
It’s not news to anyone who has visited a fast food restaurant in the past decade that many teens are working; 62 percent say they get most of their money from part-time employment, summer jobs, or neighborhood jobs such as babysitting or raking leaves. Over half (55 percent) say they work mainly for spending money. Another 35 percent mainly save the money they make.

- about nine out of ten save money,
- though 36 percent admit that they’re saving for specific items they want to purchase.
- Almost one quarter (22 percent) are saving for college and
- 27 percent save for no particular reason.
- Four out of ten say they save half or more of their money,
and three out of four have a savings account.
- Only about one in five teens report having a checking account, and small percentages say they have ATM (12 percent) and debit cards(8 percent).

Paying for College

Teens are falsely optimistic about their ability to obtain scholarships and grants to pay for college; 38 percent say that’s the main way they’ll cover the costs. One in four say their parents will carry the burden, 12 percent plan to work through school to pay the costs, and only ten percent believe they’ll mainly use student loans to cover the cost. According to a report by The College Board, loans comprise 58 percent of college aid packages, while scholarships and grants make up only 25 percent. Most of NCL’s survey respondents (56 percent) believe their parents will pay for 20-50 percent of their college bill, while 12 percent don’t expect their parents to make any contribution.

Financial Privacy, Shopping Online

Though thought to be more Internet savvy than their parents, teens have some disturbing misconceptions about shopping online. Sixty-eight percent mistakenly believe it’s safer to pay for goods bought online with a check or money order than by giving a credit card number and 55 percent wrongly think that businesses must go through a screening process to make sure they are legitimate before they can put up a Web site. When asked the same two questions in 2001, adults knew a bit more than the teens, with 41 percent correctly answering the safest way to pay question, and 73 percent knowing that companies are not screened before they put up site. Teen respondents also showed a lack of understanding of important financial privacy issues. A majority (70 percent) wrongly believe that it’s illegal for banks to share a person’s financial information with other affiliated companies.

Life After College and Credit Cards

Over one-third (38 percent) of teens believe they will make under $25,000 in their first job out of college. The reality, according to the Collegiate Employment Research Institute, is that the average college graduate with a bachelor’s degree makes between $29,300 and $34,600. One in five survey respondents think they’ll make more than $36,000 in the first year. Teens are planning to get credit cards; 58 percent plan say they’ll get their first card before they graduate from college.

When teens plan to get their first credit card

This interest in credit cards is noteworthy since over half (52 percent) wrongly believe that a credit card is an informal agreement to pay money owed. And where are they learning this? Sixty-three percent say they get most of their information about money, credit, and other financial matters from their parents. But parents might not be the best resource. The average American family carries almost $9,000 in credit card debt. And even if their parents are providing sound advice, over half of the teens admitted that, when they do talk to their parents about money, it’s to ask for some to spend.

NCL has launched a new consumer education campaign with an unrestricted educational grant provided by Bank of America. The goal is to help change misconceptions and provide teens with a financial education foundation they can carry with them as they make important financial decisions later in life. The campaign includes new lessons on banking and credit for teachers and LifeSmarts coaches as well as media outreach to promote LifeSmarts, the League’s program to bring consumer education to high school students. The lessons are available online at www.lifesmarts.org

(NCL)The National Consumers League is America ’s pioneer consumer organization. And their mission is to identify, protect, represent, and advance the economic and social interests of consumers and workers.

source: Teens and finance

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10 wise tips to tackle debt

Debt elimination or debt free life is everyone's dream, but how many of us think about making wise decisions to plan to balance the income and expenses to get "financial freedom"?

As I have mentioned before that to be "debt free" can be acquired by getting advice, tips and opinions from the people who had been in the same situation but could manage to get financial freedom or the experts of these areas.

Knowing and understanding debt is more important than ever. When used and managed carefully, debt can actually enable you to:
- Build a credit history
- Buy a house
- Send yourself or your kids to school
- Track and manage your spending.
Some debt, specifically your home mortgage, may even allow you to reduce your income tax. Understanding debt and using it wisely can help create a better, more fulfilling life for you and your family and can steer you toward a more stable future.

The "MasterCard" company site provides tips for debt elimination:

10 Smart Steps To Tackling Debt

It takes commitment and consistency, but the rewards are worth it—both financially and emotionally. People do it every day, and you can too. Here are 10 smart steps for tackling your debt.

1- Assess Your Debt—Understanding how much debt you’ve accumulated is the first step toward reducing it. Use Debt Checker Calculator to determine the total amount of your debt. It can be difficult to confront that total, but it’s critical that you do.

2- Set Your Goals—Set a big goal. Pay off your debt in three years and then break this goal into a series of smaller ones that will help you reach the finish line.
Use Income and Expense Cash Flow WorksheetPDF file to help get you there. You can even get your loved ones to participate and to motivate each other until you reach your goal.

3- Create Your Plan—Put the plan for reaching your goal on paper. The Debt-to-Income Ratio Worksheet and Debt Goal Worksheet may help you set targets for monthly expenses such as utilities, groceries, medical costs, household needs, and transportation. Set realistic targets and then try to spend even less. Make hard decisions about how to squeeze more of what you earn from your budget to pay off your debt. Don’t forget to budget for the unexpected, such as replacing a broken hot water heater or emergency medical treatment.

4- Track Your Spending—Using the plan you’ve developed, track your spending carefully so you can look for additional ways to save. The more money you can apply to your debt each month, the sooner you should be out of debt.

5- Curb Your Spending—Freeze unnecessary spending while you assess the problem and make plans to eliminate debt. Cutting spending can come in many forms. It may mean passing on buying big-ticket items, or it may mean bringing lunch to work or school rather than eating out every day.

6- Pay Your Most Expensive Debts First—Interest can add up quickly on debts of any size. Be sure to focus on paying off the ones with the highest rates.

7- Understand Interest and Late Fees—Know your interest rates and what the late fees are on all of your debts. Avoid late fees to ensure they’re not adding to your debt, and explore options for lower interest rates. If you can’t make a payment, call the banks or companies you owe and talk with them about your situation. If you don’t understand or aren’t familiar with a debt term, you can refer to our online glossary for help.

8- Pay More Than the Minimum—Understand how paying more than the minimum can be a critical step in reaching your goals. This is particularly true for credit cards, though it may also be useful for paying other loans, such as those used to buy furniture, appliances, or electronics.

9- Reward Success—Commit to achieving your goal and figure out what’s going to keep you motivated to stay on track. Consider sharing your goal with someone and ask them to be your “Debt Coach” then ask him or her to help “keep you honest” by checking in on a regular basis to see how you’re doing.

10- Be Patient—It probably took you time to get into debt, so acknowledge that you’re not going to get out overnight. Keep yourself motivated. And remember, debt elimination will change your outlook on life. It’s worth the hard work.

Source link: mastercard.com

Don't forget the rewards of Getting Out of Debt:

As you work toward your goal, increasingly, you’ll be able to plan, save for the future, and build wealth rather than worrying about paying for things you bought long ago.

While some of the benefits of getting out of debt are quite tangible, the biggest reward you will receive are those that are difficult to measure with a calculator.

Yes, developing good money management skills will provide you with access to lower interest rates, more favorable loan terms, or allow you work toward a goal such as homeownership. And while all those benefits are important, it is the intrinsic value you experience when you pay off your debt that makes the hard work worthwhile.

In short, while it might be easy to measure the value of paying off your debt by what else you can do with your money, the most valuable asset you’ll receive is the freedom a debt free life allows you to lead. Living without debt will allow you to focus on the most important people in your life — yourself and your family.

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Get the investment news and tips at - "Investor’s Daily Edge”

The key to wealth is to save money and invest with a plan. But to invest, you need to search the market very well. There are some links or resources at the internet which can guide you or provide essential information where to and how to invest your money to get your financial freedom goal.

Investor’s Daily Edge is one of those free resources which offer you guidance in this regard.

In their own words:

"Investor’s Daily Edge is a free investment newsletter that’s delivered by email. In each weekday issue you’ll receive clear recommendations and practical strategies for protecting your portfolio and multiplying your money – whether the market is rising or falling.

This is not a “news” publication, so don’t count on a recap of the biggest stories of the week. Instead, you’ll get a to-the-point analysis of what “the news” means to you – and how you should act TODAY to make the most money with the least risk.

Investor’s Daily Edge is written by a select group of market experts, each with their own style of investing. So whether you are a long-term investor, a short term trader, or a prudent speculator, you can count on useful advice you can take to the bank."

Investor’s Daily Edge is published by Fourth Avenue Financial, in Delray Beach, Florida.

What you get from “Investor’s Daily Edge”?

1- Discover early opportunities in technology, resource exploration, currencies, emerging economies, and more

2- Get simple charts with to-the-point investment briefings on what to watch in the markets

3- Learn how to profit from rising and falling sectors with Exchange Traded Funds (ETFs)

4- The best plays in the energy and natural resources bull market

5- The best investments to earn dependable income AND capital appreciation

6- Discover deeply discounted stocks that trade at fraction of their value from some of the most respected investment minds in the industry.

7- Get unbiased macroeconomic and geo-political analysis from some of the most respected investment minds in the industry

8- Learn where to be – and where not to be – regarding stocks, bonds, cash, commodities and real estate

Sign up for FREE subscription of “Investor’s Daily Edge” , and get a bonus of their FREE report” Learning from a Legend: How Warren Mad His Billions”

- You would get the “Investor’s Daily Edge” at your inbox daily. But if you want you can unsubscribe at any time.

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Debtors Anonymous- Helping you recover from debt problems

Sometimes we are so busy in our life that we forget managing our finances, credit card debt or debt problems due to overspending. What is the result?

After some time your check start bouncing, you pay late fees and creditors start knocking at your door. We deperately look around us for help and easy way to get out of debts and often fell deep into the web of companies who offer debt repair or deb consolidation solutions. But is it the fair solution of your problem?

As I have mentioned before that internet provides many useful links where you can find advice, tips to manage your debts.

Debtors Anonymous is a community service, a fellowship of men and women who share their experience, strength and hope with each other that they may solve their common problem and help others to recover from compulsive debting.

With "Debtors Anonymour" you can find a new way of living that offers recovery from compulsive debting and hope for a healthier, happier, more prosperous life.

D.A. is not allied with any sect, denomination, politics, organization or institution; does not wish to engage in any controversy; neither endorses nor opposes any causes.

This site is self supported so there is no fee to get the membership of their services.

* One can cotact them on phone or have online telephone meeting with them.
* You can join their E-News list to get their newsletter.

* Take a Debt Quiz Answer the 15 Questions which can help you decide if you have a problem.
They not only indicate your problem but provide recovery tools

* Signs of compulsive debting help you to know what are the signs of compulsive debting.

How to start?

* Getting started

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"Fast Web" - Scholarship search service for students

It is a big challenge for parents and students to look for students loans or scholarships to make up study expenses. If you search for "scholarships" or "students loand" on nornmal search engine like google or yahoo, you would get millions of links and most of the links at few initial pages are commercial based, which don't really help you.

You can go to Fast Web a FREE service to search for scholarships. New scholarships are added daily, so you get latest news and links from the site always.

More about "Fast Web":

It helps students make the decisions that shape their lives: choosing a college, paying for college, and finding jobs and internships. Recommended by more than 16,000 high schools and 3,600 colleges, FastWeb is the most trusted online college resource. Last year, one out of three college-bound high school seniors used the site, and more than 34 million students have created FastWeb accounts since launching in 1995.
FastWeb's database contains over 1.3 million scholarships worth over $3 billion.

FastWeb's enhanced college search is the only place where one can research and compare colleges based on the relevant scholarship matches at each school. The jobs & internships service lists part-time job opportunities close to home, along with career-launching internships around the country. Online tools help students stay organized with a dynamic calendar, email reminders, favorites lists, and personalized content to help them succeed.

How to use their service?

Each FastWeb user answers a detailed questionnaire about themselves. The site then uses this data to generate a personalized suite of information of scholarships, colleges, internships, jobs, and more. At the heart is FastWeb's industry-leading scholarship database — the most comprehensive and accurate compilation of national, community, and college-specific scholarships available anywhere.

What you get from the site?

Largest source of local, national and college-specific scholarships
• Personalized scholarship matching
• Search and compare colleges that are right for you
• Find colleges with scholarship money for you
• Tools and tips to help you pay for college
• Jobs and internships for students

Go to resource page for more details: resources

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Learn more about "Student Loans"

In my previous post I have written about Student loan and financial resources.

Student loans are required by mostly students, but sometimes parents need financial help for their children. Whoever needs it, you need to know more about "Student loans", where to get it and how to apply for it?

So let's learn more about Student loans and get tips regarding this important topic.

Student Loans

Federal loans are the most accessible and affordable loan resources now available to students. There are two federal programs available nationally, the Stafford and Perkins programs. Both provide interest-subsidized, payment-deferred loans that borrowers can repay after their enrollment ends. Interest -- capped at 8.25 percent for Stafford and 5 percent for Perkins -- begins to accrue only after the borrower begins to repay the loan. To qualify for interest-subsidized Stafford or Perkins student loans, the student must demonstrate need by completing the FAFSA. Although several different repayment plans are available, most students repay these funds over a 10-year period.

Although students may borrow as much as $4,000 in Perkins funds each year, actual offers differ from institution to institution, based on availability and school policy. Stafford borrowers may borrow $2,625 in the first year, $3,500 in the second year and $5,500 in the third and fourth years. Additional Stafford and Perkins loans, with higher annual borrowing limits, are available to graduate and professional students.

Perkins and Stafford are the loans most often included in student aid awards. For students who demonstrate need, interest payments are deferred until the student is no longer enrolled at least half-time.

Perkins loan funds include both federal and institutional funds and reside on campus. If you are offered a Perkins loan, you need only to sign the promissory note.

Stafford loans are slightly more complicated. You must complete a specific loan application and submit it to the lender. Banks or state lending agencies generally provide Stafford loan funds. If the school offering you the loan is a Direct Loan school (about 25 percent are), funds will come directly from the institution.

Students who are unable to demonstrate need through the FAFSA may still borrow from the Stafford student loan program. These funds are, however, unsubsidized and require that the borrower be responsible for interest from the point funds are disbursed. This can be paid while the borrower is in school or capitalized and paid at the time principal payments become due.

Because of the interest subsidy we mentioned, you should first consider federal loans. At the same time, be on the lookout for local and institutional loans, which can sometimes offer even better terms than federal programs. As with local scholarships, check with fraternal organizations and churches or synagogues. Finally, an increasing number of colleges and universities are offering institutional loans at very reasonable rates.

Regardless of who you borrow from, federal loan repayment schedules are amortized over time, with a maximum standard repayment period of 10 years (under some circumstances, other repayment periods are available). The repayment period is increasingly important. If you make your payments on a timely basis, you can reduce the interest rate you are charged -- sometimes substantially. The message here is: Pay on time and you can save money. If you have problems, contact your lender, who can offer you a variety of repayment options, even if you do have difficulties.

Source link: Student loans

These are some tips, before going to apply for student loans:

Some Words of Wisdom

* Start saving for college NOW. This is good advice for parents and students because the more you save, the less you have to borrow.
* It's not the college's sticker price that matters. All that really matters is the net cost of education. In most cases, there is a difference between the family's out-of-pocket expense and the college's sticker price.
* Use time to its fullest advantage. For most families, college is the second largest expense they will ever incur. Most families pay for their homes over as many as 30 years -- consider paying for college over six to eight years, or longer.
* As your student creates the list of schools to which he or she will apply, don't eliminate a school just because it's expensive. A great deal of assistance is available, and you may be surprised at how much you or your student receives.
* Parents, get your child involved early in paying for college. By saving during high school and by working during college, students can make an important contribution toward supporting their educational costs. And it's the responsible thing to do!
* As a family, create a strategy that fits your particular set of circumstances. Remember -- there is no best way to pay for college.
Keep educational costs in perspective. College costs may be going up, but there's good news, too. Recent studies indicate that those who earn a bachelor's degree on average will have lifetime earnings of approximately 60 percent more than those who stop at a high school diploma. The return on your investment can be extraordinary.
Here are a few final thoughts:

* If you create a family strategy through which you can start planning early, if you take advantage of the wide variety of programs available during college, and if you are willing to borrow when necessary and reasonable, then the college you deserve can be available.
* Why not view the financial aid officer at your college as a resource? These professionals will be pleased to help you think through the maze of payment options available for your consideration. They are also good at helping students budget their expenses while in college. Maybe, just maybe, the aid officer can help you find a grant to replace the loan for which you might otherwise have to apply.
Parents! - Remember, if you don't do all you can to ensure that your child is well-educated, he or she may come back home and live with you!
Source link:
By Jim Belvin Some Words of Wisdom

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Looking for financial options to study abroad?

There are a lot of resources at the web, which provide guide or advice based information for students who want to study more or going abroad. Students need only to search for the specific and reliable sources, which can guide them in making selection for their study needs.

"StudyAbroadLoans.com" helps students achieve their goals of international education. To get the goals it presents financing options available for international study.
More about the site:

StudyAbroadLoans.com is based in Jacksonville, Florida, with offices in Quincy, Massachusetts, and is a proud member of the "International Student Network" and the "Student Loan Network". Started in 1998, it is operated by Envisage International Corporation.

You may trust this site as it provides a verification of the quality of their services. Go to the link Better Business Bureau to check the site profile.

You can apply by phone, fax or mail. To find the right loan program for you click on the link: Loan Selector

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Search for non-profit student loan organizations at "Student Loan Search"

Often non-profit organizations are a good resource to get help or advice about any matter. For finace or debt topics, same conditions applies here, as you get the FREE advice or tips from non-profits. Moreover there is no loss of browsing the sites run by non-profit

"Studnet laon search" is a group of non-profit student loan organization. Let's know more about this site:

Student loan search provides personalized customer service, the lowest rates on student loans, and quality loan servicing and programs.

FREE lender search:
Their search tool will list the most competitive non-profit student loan organizations in your state of residency or those student loan organizations approved to operate in the state where you are attending school. They also provide other helpful information for our student and parent customers.


* For many families, Parent Loans for Undergraduate Students (PLUS) are a very attractive alternative to private loans or depleting savings and investments to help fund their children’s education. A federal Parent Loan for Undergraduate Students (PLUS) is designed for parents of dependent undergraduate college students. The parent, rather than the student, is responsible for repaying the loan. PLUS loans can be used to finance up to 100% of undergraduate education costs (less student aid and scholarships).

More at this link: Parents Loans

* Click on Student Loans link to get more information about it.

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