Personal Finance - Part 4 of 12
You can either make your own decisions on where to place your investment money or alternatively get a professional to do it on your behalf. Whichever one you decide on it is always a good idea to paper trade first. That is where you decide on a particular stock and only place the order on paper. This will help you to see if you are happy with the market fluctuations as well as with the types of choices either you or your adviser made.
That's generally regarded as 5 years plus. If you need ready access to your money then go for something which won't be as easily affected by outside events. While markets fluctuate and at times quite wildly they do tend to rise over time but that won't help you if you need to get your hands on your cash the day after tomorrow and the market's in freefall.
Choosing wisely will usually get you a lower repayment each month and possibly a shorter term as well. However go with the wrong credit counselling service and you'll be paying out more and for longer. To select your company you need to look out for some important points. Do they have a good record of helping people for example?
If for example you prefer to learn by watching you could invest in DVDs in preference to buying a book. One way which is becoming increasingly popular is to learn by attending seminars. These allow you to raise questions and get them answered by experts. Something that obviously just isn't possible from reading books, watching DVDs or listening to audio CDs.
That's usually about 5% but check, your card might be different. If you feel the difference will be worth it for you then start shopping around for the best interest rate and term you can find. It's important that you don't jump in and take the first offer. While it's not the buyers market it was there is still some competition out there and you need to exploit it to your advantage.
Facts show that even students and the unemployed are increasing the amount they owe. So what can we do about this situation? Well the first thing to recognize is that we are all responsible for our own borrowing. That being the case we can start to take steps to reduce the amount of money that we owe and also the amount we have to pay out each month.