Tan Bing Song

Written by: Tan Bing Song One great way to gauge the economic state we're currently in is to keep an eye on the gold price chart. Savvy investors know that as the value of the dollar falls, along with other distressing economic signs, such as high unemployment, is usually a sign that the price of gold is going to go up.  Not just gold either, but other commodities as well. A lot of investors will try to keep the value of their investments safe by switching many of their holdings to gold and other precious metals.  Lately it's been easy to tell what many investors think about the state of the economy since gold prices continue to rise. The price of gold, as with other commodities, is tied to supply and demand. The ever increasing prices of gold is an indication that demand is high.  That is in direct correlation to the fact that the value of the  dollar is falling.  Many investors are still buying gold even though the prices are at an all time high, wh...

Written by: Tan Bing Song Today's investor has more options than ever if they want to invest in gold. They can buy gold coins, gold jewelry, stocks in companies that mine gold or hold gold reserves and even gold nugget invest. It's really up to you as to what type of investment makes the most sense for you and your financial goals.  Of course, buying raw gold, in nugget form, is much different than the other forms you can buy gold in. It's important that you educate yourself before you go out and try to find yourself a prospector.  The first thing you want to do is to find several mines that are close to you and that you can trust. Of course, depending on where you live, you may not have one close by, but if possible find several that are located together so you can visit them all at the same time.  Once you've identified several mines that you are interested in, see if they have a phone number or website. If so, it will be an easy matter to find out if they ...

Written by: Tan Bing Song Just like back in the old west days, gold mining companies invest time and resources to discover, mine and process gold. To be able to finance this expensive operation many companies will offer public shares which, as you probably know, allows the average person to own a small piece of the company. When the prices for gold goes up, so does the profit margin and that's when the investor can see a profit from owning gold mining stocks. To increase your chances of making money, and not losing money, there are some simple steps you can take. Remember though, all types of investing carry some risk, though you may be able to mitigate a lot of the risk by gaining knowledge, you can't guarantee you'll make money so never invest more than you can afford to lose.  One thing you should do first is to figure out how much money you can allocate to buy mining shares. The general rule is to have about 10% of your portfolio made up with precious metal...

Written by: Tan Bing Song To hedge against the falling dollar many smart investors are turning to a more tangible asset, gold. There are many ways you can invest in gold, you can actually purchase stocks in gold mines, gold bullion, and of course you can buy gold investment coins.  Before you pull out your wallet you want to know a little more about the process of buying gold as an investment. For the purpose of this article we're going to talk strictly about buying gold coins as an investment.  No matter what you invest in, there is always a direct correlation between the amount of knowledge you have and the amount of success you see with your investments. For that reason, it's very important you do your homework.  The price of gold has been going up for some time now and is at an all time high. Many coin collectors have begun to sell of their collections and they are being melted down just for the value of the gold. If this practice continues gold coins might...

Written by: Tan Bing Song Recently there has been a resurgence in investing in gold and other precious medals. Since no one can predict whether or not your investments will go up or down, getting reliable and sound gold investment advice should be step number 1. Of course, in order to make money on your gold investment you need to buy right. When buying gold you can either buy gold bars or gold coins.  Of course, when it comes to investing your ultimate goal is to make money when you sell, more money than you paid for the gold when you bought it.  To get the most out of your sale you have to consider when and to whom you will sell when the time comes. Will you sell all your gold in one batch or will you sell it off a little here and a little there? The reason you want to consider these issues now is that it can help you figure out what types of gold you should buy.  If you want to sell off your gold over time, you're probably better off buying coins since you...

Written by: Tan Bing Song There are many people who advise using gold investments as a way to hedge against uncertainty in the stock market. And there are many good points behind that argument, but there are also some downsides of owning big, heavy bars of gold. For these reasons it may be easier to just buy gold exchange traded funds. Gold exchange funds or ETF or GETF are bought and sold online just like you would buy shares from any other type of company. You will keep these shares in a brokerage account. Though you aren't actually buying the gold bullion, you are only buying shares of companies that invest in gold, this is a great way to buy gold without worrying about the downsides of owning gold.  Owning the physical gold coins or bullion can also be a risky proposition if you've got loose lips. If you tell too many people that you've got that gold stored in your home safe, you may just find that the wrong person will overhear and before you know it your home...

Written by: Tan Bing Song Investing in gold elf, or gold exchange traded funds, is beginning to look like a good idea to the savvy investor. Gold has been a valued resource since th dawn of time and since it's not readily available and the amount of gold is finite, it will only continue to go up in value.  Buying gold has long been the strategy of investors to hedge against inflation and the debasing of the U.S. dollar. Since gold prices (and those of other commodities) go up in direct correlation to the value of the dollar going down, now might be a great time to jump right in.  When buying gold you actually have a few options. You can buy gold coins. Many times these coins will actually be worth more, sometimes much more, than their face value. The total value will depend on how much gold these coins consist of. Since gold is a soft metal gold coins will have other metals added in, usually copper and silver.  The amount of other metals will mean that the go...

Written by: Tan Bing Song So the question is: How do you go about getting out of credit card debt? The answer is discipline. You must discipline yourself. How long have you been using your credit cards to live on? Do you even remember what a dollar bill looks like? Now you're in trouble because you can't make all those payments with the money you make. This is called "living beyond your means".  Your "means" is the amount of money you receive for the work you do each week at your job. Your "means" is not the amount of credit you have available on that card in your wallet. Credit cards are not free money. You use it, you must pay it back. There are many ways to get control of your credit card debt. You can try to go it alone and stick to a strict budget. You can talk to a credit counselor and try to consolidate your debt. This might make things easier for you to get your credit card balances paid down faster by reducing the amount you owe. S...

Written by: Tan Bing Song To be blunt, the economy has been in rough shape for a while now. Even those who were normally quite good at staying out of debt, or were at least able to keep up with it, have found unpaid credit card debt piling up. While it's unfortunate, it's usually due to circumstances beyond their control. If this sounds like you, then you should know that it's not your fault, and that there are things you can do to make things better. There is an old saying that says if you're in a hole then you should stop digging. This applies perfectly to credit card debt. No matter how bad it is, the first step is to stop using your credit cards. No excuses. Period. This is vital because unpaid credit card debt has a nasty way of following you around for years. If you have a lot of higher interest cards, then finding a single card with a lower rate to move those balances to will help. This is a process known as 'consolidation' because you are combinin...

Written by: Tan Bing Song If you're looking for a free listing of foreclosure homes, you are in luck. It is extremely easy to find this information now online. The only problem that you face is which free listing to use. Keep in mind that most sites that list the information you are looking for only offer a free trial. So you have a certain amount of time that you can use the site to try it out, and then you can decide whether or not you would like to go ahead and become a member to use all of the site's services.  Due to the current economic crisis, foreclosed homes are becoming more and more abundant. However, the general attitude about buying foreclosures remains rather skeptical and negative, apart from those investors who are experienced in this field and have been doing it for a while. Although foreclosures can be the best valuses, they also do involve more risk, more paperwork, and more time in order to close the deal. So, those that do have the money to spend o...

Written by: Tan Bing Song Getting into to debt has been a problem for as long as people have been lending money. However, the modern situation is worse than it has ever been. Chances are good that you are carrying more debt than you would like. Add a troubled economy and sluggish job market to the mix and it's fair to say being in debt isn't your fault. Circumstances beyond your control can put you into a downward spiral all too quickly. Before you know it, you have several cards, and you are falling further behind. A good way to get you on the right track is free credit card consolidation, but does it really exist? Before we answer, let's take a moment to explain what debt consolidation is. In simple terms, it's combining a lot of debts into a single debt. What? That would be a huge debt! Yes, it would, but it isn't as bad as you think, as you will see. Credit card debt is some of the worst debt you can have. The terms of repayment make it virtually impo...

Written by: Tan Bing Song The most recent statistics, written about in the Atlantic (www.theatlantic.com), about America's foreclosure market reveal that repossessed homes will probably hit one million before 2010 is over, with the worst-hit areas states being Nevada, California, Florida, and Arizona.  Foreclosures on home listings are expected to reach about one out of every 138 households as homeowners continue to lose thier jobs or remain unemployed. Many homeowners were also denied refinancing since their homes are worth less that what they owe on their mortgages. The government's effort to prevent foreclosures did make a small impact, giving over 200,000 homeowners (just over 20% of troubled borrowers) modifications of their loans. How to homeowners deal with foreclosures? According to a new poll sponsored by RealtyTrac and Trulia.com, the present-day foreclosures are caused by unemployment, not the same subprime mortgage products that started the foreclosure trend...

Written by: Tan Bing Song We are all looking for ways to save money, and in that endeavor there is one financial tool that has become very popular.  Known as a flexible savings account, or FSA, they are an easy way to help set aside funds that can be used to cover certain expenses that might be incurred.   In these programs, an employer will take money out of an individual’s paycheck and place it in a separate account.  It is a financial account that offers certain tax advantages, the most common of which is having the deposited amounts tax deferred.  Another advantage of them is that they are not subject to payroll taxes.  This also works to increase the donated amount.   These plans are also known as flexible spending arrangements, with the most common type being a medical FSA.  These are used strictly in instances when an individual incurs medical expenses above and beyond what their insurance plan will cover.  Some of the mo...

Written by: Tan Bing Song Becoming a first time home owner is a big step and a fun time, but it can also be overwhelming and it's easy to get scared. I mean this is a big, big decision and what happens if you make a mistake? Well, I can't guarantee that you won't make a mistake but I can tell you that there are some things you can do to make sure that you don't. For one thing, times are on your side. What I mean by that is the fact that the recent mortgage meltdown has made banks more cautious than ever. This can actually work in your favor. One big reason that so many homeowners are in trouble right now is that the banks made loans they probably shouldn't have made. Homeowners were buying more home than they could really afford because the interest rates were so low. Unfortunately when these adjustable rates sky rocketed many home owners couldn't afford to pay.  As fun as it might be to blame the banks, the homeowners themselves have to take on some o...

Written by: Tan Bing Song There are many first time home buyer incentives for you to take advantage of if you are considering buying your first home. Of course, all programs have their own eligibility requirements so it's important you target only those programs for which you will qualify. Your best bet is to start with a search online. There are many government sites that will provide you with all the information you need.  Some of the most common programs available to assist the first time home buyer are: Fannie May, FHA loans, VA loans, and programs through the Department of Housing and Urban Development (HUD). Each office will have it's own unique requirements and programs.  For example, Fannie May (FannieMay.com) programs will provide incentives for first time buyers such as low down payments, financing options for people with bad credit, no appraisal fees, and very flexible mortgage loan terms.  If you've got a blemished credit record and a low credit sco...

Written by: Tan Bing Song Is there a first time home buyer discount? There was a tax credit available for the first time home buyer, but it expired over the summer.  Other than that, various government agencies offer several options for the first time home buyer. Each has it's own rules and not everyone will qualify for every program.  Visit the websites for each program such as the V.A, FHA, Fannie May, and HUD. Find out what programs they have and which ones you qualify for. Do yourself a favor and carefully check out the requirements for each one before you download and fill out an application. Don't waste your time applying for programs that you aren't qualified for hoping to 'sneak' in.  Another good resource to find programs is with your local lender or real estate agent. These professionals should have a pretty good idea of what is available and since they know a little about you and your situation, they should be able to steer you in the right direc...

Written by: Tan Bing Song Many people took advantage of the first time home buyers credit. You could deduct up to $8,000 on the purchase of a new home. Unfortunately that program has ended. The good news is that there are still many first time home buyer assistance programs available, you just have to know where to look.  Many government agencies such as Fannie May, Housing and Urban Development, V.A. and the FHA all offer some type of housing assistance for the first time home buyer. The exact programs will vary from one agency to another as will the requirements for each program.  A good place to start is with an online search. Go to each agency and see what programs they have and what the requirements are.  You will most likely find a few that you qualify for. Some of them will require you to be pre-approved for a home loan from your local lender. Make sure you follow the instructions perfectly so you don't slow down the process. Here is some general informa...

Written by: Tan Bing Song Want a little property virgin, first time home buyer advice? I've bought several homes throughout my life. The first time was a small little starter home and I sure wish someone had given me a little advice. I ended up grossly overpaying (I bought it from someone I knew and thought they were giving me a great deal, I didn't do my homework and paid more than I  should have). Buying a home, whether it's your first or your tenth, takes time. You have to be willing to invest the time you need to make a smart decision. This process is called due diligence. It means that you and  only you have to make sure that the deal is a good deal for you.  You can't just sit back and trust that the bank will watch out for you. Many homeowners are in trouble today for doing just that. They thought that since they got approved for a certain loan amount that that was the amount they could afford.  They never stopped to consider that the bank only look...

Written by: Tan Bing Song There is no question that today's economy could be doing better. However, even in this slump, financing a car probably isn't quite as hard as you may think. In some ways, car dealers are tightening their purse strings and are more careful about lending money than they were just a few years ago. At the same time, though, their lower sales volume gives them more incentive to help people buy new cars.  But that doesn't mean that automobile dealerships are the only place to go for financing a car. Big banks are actually not one of the best sources because of the changes they have made. On the other hand, credit unions, regional bank and other local lending institutions are all potential sources for getting car loans. The good news about the bad economy is that it makes it a buyer's market. Car dealers are offering various incentives and rebates to help move the inventory off their lots. Some of these incentives include low interest rates, ...

Written by: Tan Bing Song You had it all planned out, just when you were going to retire and how much money you were going to have to do it with. Now with everything and everyone losing money instead of making money you are worried that you may not have enough money to live on at all. Look into getting an FHA reverse mortgage. If you have owned your home for the last 30 years or so and have built up quite a bit of equity and are at least 62 years old you can qualify for an FHA reverse mortgage. Using the equity in your home can help with anything you need it for. The possibilities are endless, medical expenses, investing, vacations, fixing the old place up or anything else you can think of.  If you do your research and find that this type of situation will be to your benefit then check out two or three different lenders that offer reverse mortgage packages and see if you can find one that fits your needs. The criteria for being eligible to receive this type of loan, in...

Written by: Tan Bing Song If you are in debt, then there's a very good chance that it isn't your fault. You are a good person, and you have every intention of paying back what you owe. Unfortunately, life keeps throwing obstacles in your way, and you are now in a position where you feel you just can't get out of the hole you're in. With that in mind, here are some personal debt reduction tips to help you get back on firm financial footing.  1. STOP! You will not get out of debt by going further into debt. Stop using your credit cards now. Whatever it is, it can wait. No excuses. It is time to stop making a bigger financial hole, and time to start building a solid foundation.  2. Evaluate your current situation. It may take some time to do it, but this step is absolutely vital to turning things around. You need to keep track of all of your expenses, down to the last cent. Be brutally honest as you do this, and remember that no one else ever has to see it. Then l...

Written by: Tan Bing Song Now more than ever we are becoming aware of the limitations of a currency system that is not based on any real asset. Using a credit card to make a purchase is just a 'paper' transaction. It isn't backed up by tangible goods. If the person who initiated the purchase doesn't pay, the vendor is out of luck in most cases. Using e gold investment is different since all transactions are backed by the equivalent value in gold. Think of it like this, when you make a purchase with a credit card the person you buy the product or service from doesn't  actually have anything of value backing up that purchase. They are essentially allowing you to  back it up with a 'promise to pay'.  If you don't pay your bill, they simply won't get paid. If that happens in a wide spread manner, such as it is in the economy right now, that means a lot of companies don't have any money coming in. With E gold, on the other hand. You are b...

Written by: Tan Bing Song Mounting debt is no fun. The worst part of it all is that once you reach the tipping point it just keeps getting more and more out of control. If you have thought about declaring bankruptcy then you are not alone. The state of today's economy has caused an ever-growing number of people to file bankruptcy. These are hard working people who had every intention of paying what they owe, but then circumstances out of their control made that next to impossible. Before you make the decision--one way or the other--you should know some of the pros and cons of declaring bankruptcy. 1. If you are really deep in debt, and most of what you owe is credit card debt, then bankruptcy can eliminate or drastically reduce how much you eventually pay. However, it won't eliminate all kinds of debt (such as back child support or student loans), so you need to consider what type of debt you're carrying. 2. Your creditors are not allowed to contact you once they a...

Written by: Tan Bing Song With the economy struggling along, more and more people are finding themselves in debt. There was a time, not all that long ago, when most of us would see debt as a temporary bump along the way, and would be able to get out of it fairly quickly, but not anymore. Today's consumer has to often turn to more drastic measures. Of those bankruptcy is the most drastic. But no matter how bad things may seem, you can always try a debt settlement reduction first.  The main idea behind this type of settlement is that you are letting your creditors know that you simply cannot pay them the full amount you owe. And, rather than declaring bankruptcy and giving them nothing, you would like to pay something. This amount can be substantially less, but the catch is that you will have a much shorter time in which to pay it (normally one or two weeks, with 30 days being the typical maximum). So how does the process work? If you are current on your payments, then you d...

Written by: Tan Bing Song In difficult economic times, debt can be overwhelming. Studies show that financial hard times and the resultant stress can have a negative impact on a person in a physically and emotionally way. If you are sinking into debt,you may be really concerned that you will not find relief from your debt. Although we are facing financially tough times, there are lenders and agencies willing to help with your debt relief consolidation needs. While looking for help with your debt burdens you will soon discover that there are three main types of debt relief consolidation: credit card balance transfers,credit management or counseling agencies and debt consolidation loans. With a debt consolidation loan, the lender pays off several of your consumer debts and creates a brand new loan for you that will allow for smaller monthly payments than the original monthly payments. Use caution when using a loan as debt relief consolidation, be knowledgeable about the terms of ...

Written by: Tan Bing Song If anything good comes out of this recent recession it might be that people will learn to not rely on credit as much for day to day purchases and that is one of the most important debt reduction tips anyone can learn. Of course, many times people get into trouble because of circumstances beyond their control such as a job loss, medical issues or other unexpected expenses.  No matter what the cause, it's never too late to take control of your financial destiny and get yourself out of debt. The sooner you start the sooner you'll be able to breath again. First and foremost you need a plan and when it comes to your money the best plan is to make a reasonable budget. I say reasonable because many people get very motivated and sit down and make up a really strict budget, the only problem is that they aren't going to stick with it because it's simply too strict. You want to be strict with your budget but you also have to be somewhat realistic...

Written by: Tan Bing Song Getting into debt isn't any fun, but getting out of debt can be even harder. However, there a lot of various tools available to you to help you get back on your feet financially. In today's computer-driven world, one of the more popular tools people are using is debt reduction software. The beauty of this software is that it simplifies what would otherwise be a difficult, if not impossible, task. If you are serious about finally getting your debt under control, then it's up to you to take action. Now, some people think of using software as a form of cheating, but that's ridiculous! It's not cheating. In fact, anybody that uses it is showing that they are taking action and that they want to change their lives for the better.  Before you buy any debt reduction software, you should have a good idea of what your goals are. Then, compare the features of the software to your goals. That way you will know if a particular piece of software ...

Written by: Tan Bing Song Do you like being in debt? Do you find it makes you all giddy, and you just can't wait to get another call from a bill collector? Yeah, right! The more you owe, the more of a hassle it is. Perhaps that's why there is a large number of debt reduction programs; however, not all of them are created equal. Here are some things for you to consider about the various options available to you.  In today's computer-connected world, one of the more popular options is debt reduction software. Such software can help you track all of your income and expenses, keep track of the details of what you owe, and let you see where you stand after you record any payments you make. Most programs will create a plan for you based on the information you give it. The main problem is that a lot of debt is the result of not having the discipline to properly manage money, and you will need discipline to make sure you keep the software up to date. Sometimes we need a mo...

Written by: Tan Bing Song With so many debt reduction plans available, how do you find the one company that will fit your needs? The obvious first step is to research several companies at once and make a list of the ones you like the best. Then you can call the BBB (Better Business Bureau) and ask if any of the companies on your list have ever had any bad reports from any of their customers. You can ask family or friends for referrals. This does not mean you need to air your dirty laundry all over the countryside but if you know someone who has been in your situation then discreetly ask them to refer you to the same company that they hired to help them, if they had a favorable experience. Even if you do get a referral, do your due diligence and get as much information about the company you have been referred to as you can then call them for a consultation or fill out the form on the website and they will get back to you when they can, usually in 24 hours or less.  Having...

Written by: Tan Bing Song If you are at your wit's end and have exhausted every other option available to you to try to reduce your debt, short of filing for bankruptcy, debt reduction negotiation may be the solution to your debt problem. Obviously, your situation is dire, otherwise you wouldn't be researching debt settlement options. Stress and worry is mounting and you just want everything fixed and fixed now. This is the time you will need to be very careful. When researching and choosing a debt reduction negotiation firm do not just go with the first one that comes down the pike. Be diligent and ask questions to make sure they have your best interests in mind and not theirs. If you are not careful you could find yourself in deeper than you were when you started. The company you choose should be a member of The Association of Settlement Companies, or TASC. The Association of Settlement Companies holds their members to strict industry standards and is the leading t...

Written by: Tan Bing Song The benefit of a debt reduction loan (or debt consolidation loan) is it makes it possible to combine all your debts into one and only have one monthly payment. Usually you can get a lower interest rate and be able to save some money that way. Getting a loan to pay off all past due bills and outstanding debt will get the unfavorable reports off of your credit report and you will only be responsible for making the one payment each month to the lender. How do you know if a debt consolidation loan is for you? It all depends on your situation. Keep in mind that your debt is not reduced in any way, you have just put them all together and are only making one payment. The size of the payment you are making depends on the interest rate the lending institution gives you and the term or length of the loan. You will find that a debt reduction loan may not get you out of debt any faster but if you have the determination and the ability to pay off the debt with onl...

Written by: Tan Bing Song Do you like being in debt? If so, then this article isn't for you. On the other hand, if you want to get out of debt, then keep reading. As you have probably found out by now, good debt reduction advice can be hard to come by. A lot of the suggestions being made are either flat out wrong or confusing. None of which is going to help you improve your financial situation.  The first thing you need to look at is who is giving the advice. Ask yourself what makes them qualified. If they have a professional certification of any kind, make sure it's in the financial field. Debt reduction advice coming from a certified financial planner (CFP) carries more weight than that coming from a PhD. The other source of good advice comes from real people who were able to get out of debt on their own (in this case a PhD could be a could source). One type of advice to really watch out for is the kind that is meant to be misleading in the hopes that you actually stay...