Financial News – Blog articles

Payday Loans Are Detrimental To Your Financial Health

Written on February 7, 2010 – 5:19 am | by admin

At some point, you may find yourself in need a little financial pick-me-up between paychecks. Emergency expenses can crop up at any time and when you are in need of quick cash, a payday loan can be a tempting offer. The true costs of a payday loan, however, are absolutely astounding and are usually swept under the rug by greedy lenders.  Needless to say,  a payday loan should be an absolute last resort.

Paydays loans are titled as such because one borrows cash with the promise to pay back the full amount plus interest on the next payday. There is an upside to payday loans, such as the ability to get a quick approval, access fast cash, and essentially all you really to initiate the process is a job and a bank account. O

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Frustrated Job Seekers Calling It Quits

Written on February 7, 2010 – 2:20 am | by admin

Many jobless people have reached a conclusion that captures the depth of the unemployment crisis: Looking for a job is a waste of time.

The economy is growing. Yet it’s creating few jobs. That’s why in the past eight months, 1.8 million people without jobs left the labor market. Many had grown so frustrated by their failure to find a job that they threw up their hands and quit looking for one.

And it’s why Barbara Bishop sat down at her kitchen table in suburban Atlanta last month and joined their ranks. Her decision came seven months after she quit a PR job that seemed about to be axed. Sending out resumes got her nowhere. So Bishop made a list of her skills and decided to launch her own business. Read more…

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Jobless Rate Drops Unexpectedly To 9.7%

Written on February 6, 2010 – 10:47 am | by admin

WASHINGTON — The outlook for jobs remains bleak despite January’s unexpected decline in the unemployment rate, which fell to 9.7 percent from 10 percent in December.

A Labor Department survey of households found that 541,000 more Americans had jobs last month. But most of those gains were attributed to seasonal adjustments to the data. Without those adjustments, which account for reduced hiring during winter, the data show fewer people had jobs last month.

A separate survey of businesses found that employers shed 20,000 jobs last month. Excluding the beleaguered construction industry, the private sector as a whole added 63,000 positions. Read more…

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Debt Reduction: Reduce Debts for a Fraction of the Original Amount

Written on February 5, 2010 – 5:25 pm | by admin

Debt Reduction: Reduce Debts for a Fraction of the Original Amount

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Tracker rates ‘more attractive’

Written on February 3, 2010 – 6:52 pm | by admin

Borrowers appear to be more attracted to tracker rates for mortgage loans, as research has revealed a 17 per cent increase in the take up of these compared to the last quarter.

Figures from Legal & General have indicated that 57 per cent of buy-to-let applicants opted for a tracker, compared to 30 per cent for the previous three-month period.

Director of housing at the company Stephen Smith noted that this is probably because fixed rates “are looking relatively expensive”, as well as the fact that concerns regarding rises in the base rate are dissipating.

He went on to note that the majority of those in the industry believe that it is going to remain low for the time being, “so this is a golden opportunity for people to think about paying off some of their debt”.

Meanwhile, a recent survey from Woolwich of Barclays revealed that mortgages are becoming more affordable, with monthly repayments now averaging at £497.

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