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APR Explained

APR Explained: Why A Lower Rate Is Your Highest Priority

How much does your credit card or loan cost you? The answer to this lies in the Annual Percentage Rate (APR). This is a universal measure used to compare the prices of different financial products such as credit cards, loans, and mortgages. To compare different credit products and loans, take a look at the APR and it will give you an idea of how much each costs. This way, you can make a better and informed decision.

What is APR and how does it work?

When applying for a loan, getting the lowest interest rate should be the highest priority. The annual percentage rate is the interest paid for a loan yearly. In the simplest terms, this is the cost of borrowing money.

The APR is shown as a percentage. It contains all the costs and fees related to the loan. The fees and costs are different depending on the type of loan you apply for. For most of the loans apart from mortgages, the fees relate to maintaining the loan and processing.

The most significant advantage offered by APR is the ability to compare loan rates. Take a credit card for example. It comes with different types of costs and fees associated with the account. With the APR, you can compare different cards easily.

The APR is required to be shown to all customers by loan issuers and credit card companies. It facilitates a good understanding of the actual loan rates applicable as per their agreement. Or credit card companies, they are allowed by law to advertise their monthly interest rates. However, they are required by law to state the APR to all customers before signing any agreement.

A loan can be offered with either a fixed or variable APR. The fixed APR loan has a fixed interest rate with a guarantee not to change during the entire life of the loan. The variable APR loan’s interest rate can change any time.

Is the lower APR better?

To put it out there, the lower the APR, the better the loan. However, when it comes to a product like mortgage, the lower APR loan might not be the best. Some mortgage loans give you a lower APR but you pay higher closing costs, higher points and other fees associated with closing the home loan.

Always go for a loan with a lower APR. This is the cost of your loan and the lower you go, the better. However, make sure to read all the details when getting a loan and ask the originator for as much information and details as possible.

Four Ways to Compare Online to Offline Colleges

In the New Year, it’s an excellent time for a quick change. Most people relate it to education because each year more than 20 million people get enrolled in universities and colleges. Whether you are thinking of enrolling in a program or starting to earn credits in a new field, it’s a great time to learn on the web. Nowadays, everyone uses the internet and stays online for several hours, playing video games or watching videos.

In the meantime, you have seen several ads for online colleges. These online colleges offer several programs that are convenient, flexible and money-saving. But do you think that is enough for you? In this blog post, you will see how you can compare online to offline colleges.

Get to Know About Four Best Ways to Compare Online to Offline Colleges :

1.      Compare the Cost of Both:

A Recent survey directed by the American Association of State Colleges and Universities uncovered that 60% of the 400 state-funded colleges reviewed charge the equivalent per credit hour for online courses as they accomplish for study hall courses. The highest contrast in price will be between foundations, not between sorts of organizations.

2.      Your Convenience:

You can concentrate on your course load as your timetable permits. It implies that you can keep up your work and other obligations while finishing your training. There’s likewise the driving issue. A study hall course will expect you to communicate, adding time and worry to your instruction.

3.      The Piece of Education:

The most important question you have to address while considering your school alternatives is training quality. That is what you’re there for, right? The investigation found that studies in online classes are bound to contribute in-class conversations and have discussions with peers about their significant fields.

4.      Worth of Both Colleges:

The genuine issue found for online colleges is their reputation. A few, similar to the University of Phoenix, have a reputation issue. Others, as Southern New Hampshire University, have earned a lot of positive press for their inventive way to deal with instruction. At the point when you’re picking a degree program, look at ranking like US News and World Report’s rundown of best online colleges.

Tomorrow’s Millionaire – Make Saving Fun

Saving money usually means overlooking all glamorous and luxurious habits in your life and can seem like a drag. It’s a great time to challenge yourself and encourage saving in a fun way. Saving money is essential to achieve a full scope of objectives. Having some cash saved can help you plan for crises that may happen in the future. Saving money for the future doesn’t require you to be a big downer. There are more ways you can make saving fun instead of something you dread to do.

Now make money-saving a fun thing to do:

1.     Put a clingy note in your wallet:

While going out shopping, you have to think about what you need. You can write this sentence in bold letters on paper and stick it in your wallet. You can even take a stab at folding it over your platinum card. Ensure you put it somewhere. The thought here is to get you to see it before you make a purchase that is not needed.

2.     Make It a Competition:

If you know another person who’s in a similar monetary circumstance, challenge them to a save off! Pick a time frame—express three to six months—and see who can set aside more cash and dominate the match. The ideal approach is to make the challenge reasonable.

3.     Go up against your self:

Have you moved yourself to a game? You know, such as checking whether you can make more steps every day, locate the fastest route home, or eat a whole cake in one sitting? Indeed, you can do something very similar to money-saving. Count up how much money you’ve put into the reserve funds each month and afterwards, challenge yourself to beat that months sum.

7 Little Changes That Will Make a Big Difference in Your Holiday Season

The holidays are exciting, and it is easy to see why. The holidays are all about tradition, which helps to explain why people are so obsessed with them. If you are dealing with less than perfect circumstances, enjoying the holidays can seem challenging especially during the hap-happiest season of the year. If you are looking to enjoy the holidays a little more than you typically would this year, here are 7 little changes that will make a big difference in your holiday season:

Hold Off on the Spending and the Social Media
The constant flood of other people’s pictures can be hard to take, especially if you are not surrounded by your loved ones. Whether you are spending time with your family or spending the holidays alone, the best things to do would be to hold off on social media. Most of what is posted on social media is likely fake anyway so it is best to give it a holiday for a better season.

Although the holiday season is known for being one of pomp and excess, you can make a big difference by simplifying the whole thing. Why not settle for a simple meal on the day of with family and friends? You will save yourself from the stress of cooking, shopping, and the imminent cleanup after.

Establish Your Priorities
Trying to satisfy the expectations of everyone else around you will not do any good but ruin your holidays. Although you are expected to play certain roles simply because it is tradition, you should let go of any dynamics that you don’t agree with. The first step to really enjoying the holiday season is to determine exactly what you want from the season. If the perfect vacation and the best gifts are not a priority, then give up on them.

Plan Your Activities
A common cause for stress during the holiday is the lack of control. You can control how your holiday will turn out by planning all your activities for the season in advance.

Control Your Excesses
The holidays are usually a culmination of a long journey, which is why people tend to over-celebrate. Instead of eating, drinking, and spending too much, you should control your excess. Moderation is the key to a successful season free of high credit balances and sudden weight gain.

Nurture Generosity
If you have kids, you should also teach them about the power of appreciating and not just the joy of getting. You should make a plan that can allow the kids to create their own gifts. You should assert creativity without telling them what to make or do.

Lower Your Expectations
The holiday season is supposed to be fun, not perfect. Therefore, if everything does not go smoothly as planned, understand that it is OK and let it go. Stop stressing about the holidays and just go with the flow.

The Art of Thanksgiving

Hosting a Thanksgiving dinner for the first time does not have to be stressful, but it almost always is, and for good reason. Thanksgiving is one of the biggest family holidays of the entire year, and it is perhaps one of the most pressure-filled. Hosting dinner during Thanksgiving is sort of a rite of passage, and there is an art to doing it correctly.

It is always overwhelming to have the baton passed over to you because there are a lot of elements that have to be fairly synchronized. Fortunately, there is a wealth of online resources that can help you throw a Thanksgiving party successfully. With a lot of planning and solid game-day strategy, it is entirely possible to wow your guests.

Here is the art of Thanksgiving to ensure that you throw a successful party:

Always Accept Help
To pull off Thanksgiving successfully, you have to make sure that you develop a foolproof timeline and checklist to ensure that everything goes according to plan. If you can, you should invite family and friends to bring delicacies, sort of like a potluck, to relieve yourself of some of the stress. You should pick the dishes that are most important to your Thanksgiving traditions and delegate the rest to guest who want to contribute. Whether it is your spouse, friends, or family members, their help will be instrumental.

Stick to the Classics
If you know how to make any of the tried and tested Thanksgiving classics, you should consider sticking with them. If it is your first time ever making the turkey, you should leave your brain and schedule free to deal with it. When preparing the turkey, remember to use the meat thermometer in the thigh, stuffing, and breast to make sure that your turkey is cooked evenly all the way through.

Make as Much as You Can Ahead of the Day
There are many Thanksgiving dishes and delicacies that can and will hold up until the actual day of the celebration. Some, in most cases, even taste better when they are prepared in advance. Dishes such as homemade croutons, potatoes, gravy bases, casseroles, and veggies can be cooked ahead and refrigerated for up to 2 days. If you do not want to cook anything in advance, at least you can prepare it as soon as you need to.