Wisella.net | Informative. Insightful. Intriguing.

Home - Finance

4 personal loan mistakes to avoid with poor credit

4 personal loan mistakes to avoid with poor credit

Personal loans can help with various expenses, such as planning a vacation, further education, home renovation, or even health expenses. These loans can also aid in completing a renovation project instead of abandoning it halfway due to budgetary constraints. However, the loan application process can be daunting and may lead to mishaps that can prove costly later on. Check out some common mistakes to avoid, specifically those with poor credit scores. Not checking score Not checking the credit score before applying for loans is one of the most common loan application mistakes and can prove to be detrimental. It may be so that the credit reports have inaccuracies that further impact the individual’s credit score. So, before applying for a personal loan, checking credit reports for errors and verifying the score from one of the top credit bureaus is recommended. Applying to different lenders simultaneously Another practice that negatively impacts a person’s credit score is simultaneously applying to multiple loan vendors. When an individual submits multiple applications within a short period, it can damage their scores, especially if they are rejected. Each loan application is handled with proper credit checks that can result in temporarily lowered scores. Individuals can instead research beforehand and apply to lenders dealing with poor credit scores.

5 mistakes to avoid when trying to pay off debt

5 mistakes to avoid when trying to pay off debt

Being in debt can be overwhelming and stressful if one does not plan to get out of it. Proper financial planning is imperative to pay the debt right away and should be at the top of one’s priority list. This means being structured and diligent with one’s spending habits, i.e., cutting some expenses to help with debt payments. Nonetheless, here are some more mistakes to avoid while paying off debt. Neglecting interest rates It is recommended that the debt on the bill be paid off with the highest interest rate while the others can wait. One may think paying small amounts for every bill is helpful, but that will not be the case, as the interest will be added back every month. So, paying as much as possible on the highest bill is essential while matching a minimum payment amount for others. Closing credit card accounts While closing credit card accounts after bill payment may seem tempting, this may affect credit score data. So avoid rushing to close the account once it is paid off. Pay the monthly balances and avoid interest charges to maintain a good credit score rating. Not changing spending habits It is important to incorporate some healthy spending habits.

5 mistakes to avoid when paying off credit card debt

5 mistakes to avoid when paying off credit card debt

Paying off credit card debt can be a tedious and lengthy process. However, with proper planning, you can reduce your debt to a substantially low amount. Failure to pay credit card bills on time can jeopardize your financial well-being, which must be addressed and corrected as soon as possible. As debt accumulates, so does the stress. Here are some of the mistakes that are commonly made while paying off debt that can easily be avoided. Continuing to use the credit card It is crucial to refrain from using a credit card that has a significant amount of debt until the entire debt has been paid off. Though you may be able to make your monthly payments and reduce the amount of debt over time, the interest charges will continue to compound and accumulate each month, resulting in a much larger debt than you initially incurred. To put an end to this cycle, it is necessary to stop using the credit card completely, at least until all the outstanding dues have been cleared. Also, do not fall prey to “buy now, pay later” shopping schemes. Lack of planning Having a well-planned strategy is the only way to get out of debt easily.

5 mistakes to avoid when selling or investing in cryptocurrency

5 mistakes to avoid when selling or investing in cryptocurrency

Being new to crypto trading does not necessarily mean one must make all the mistakes to experience and learn. Why not start smart as a beginner? For this, it is essential to be thorough with the common mistakes to avoid when selling or investing in cryptocurrency. Knowing what they are can help potential crypto traders begin their crypto journey on an informed and solid footing without incurring unnecessary losses. 1. Buying because the price is low Low prices may not always hint at a bargain. Sometimes, the prices are low for a reason. So, being wary of the coins with falling user rates is crucial. Many developers formulate a project and leave it after a few years. Consequently, the coin has not been updated, a common reason for its low price. So, one of the mistakes to avoid when selling or investing in cryptocurrency is buying without research, merely because the price is low. 2. Failing to pick the right crypto exchange platform Before one starts trading, one must research and choose a reliable cryptocurrency exchange. Sadly, many beginners rush into this step, which later proves to be a costly mistake. So, when selecting an exchange, look for the following features:

4 common mistakes to avoid with a 401(k) plan

4 common mistakes to avoid with a 401(k) plan

A 401(k) plan is a tax-advantaged retirement savings plan provided by employers. It involves setting aside a portion of the employee’s monthly salary, which can be withdrawn during retirement. Introduced in the 1980s, 401(k) has been instrumental in helping people save money for their future. However, certain mistakes can prevent one from getting the most out of their 401(k) plan. Lapses here could also result in penalties. 1. Not contributing enough Some of the biggest mistakes people make with a 401(k) are not contributing enough or consistently and not increasing their contributions over time (to match their salary). As a result, they end up losing out on the compounding interests, settling for very little money. To steer clear of this mistake, one can set up the account to automatically draw contributions from the salary account. Today, one can also opt for automatic annual increases on a date of their choice or on the effective date of their salary raise to allocate more money for their retirement. 2. Missing out on employer match Many employers match the employee’s contribution. To build a bigger retirement fund, one should avoid missing out on these contributions. One can learn more about the employer’s 401(k) policy.

4 ways to reap benefits from an annuity

4 ways to reap benefits from an annuity

An income annuity covers various retirement expenses that are not always covered by Social Security or pensions. The customizable contract issued by an insurance company converts an investor’s premiums into a guaranteed, fixed-income stream. It reassures investors of a steady income flow, throughout post-retirement. This retirement plan is only as good as how well one manages the contract. With proper expert guidance, an investor can learn how to reap the benefits of an income annuity. Learn about the types One of the easiest ways to benefit from annuities is to learn about the available types. There are various options: immediate, deferred income, indexed, variable, and fixed deferred annuities. Each type might suit different investor profiles. Learning about them in detail will help one make a more informed investment decision in the long run. Split the money One can divide their money across various annuity contracts using a bucket strategy to stay on budget. The method allocated for short-term, intermediate, and long-term expenses. For instance, if one has recently retired, one of the contracts can be set up to start immediately, while another can be set up in five years when the spouse plans to retire. A third contract will be initiated in 10 years, when one might expect a higher health care bill.

Latest Articles

3 river cruises to board in 2022

3 river cruises to board in 2022

If you are planning to go on a long vacation and would love to relax on a deck overlooking a river, then river cruises are for you. From the mighty Mississippi to the scenic Columbia, you can unwind with comfort and luxury on the country’s many rivers. Here are some of the best river cruises of 2022 that will help you make a memorable trip. America’s Great River by Viking Cruises One of the best river cruises of 2022, Viking Cruise offers a unique opportunity to discover American folk music and learn more about the country’s civil rights movement. This 15-day river cruise spans the Mississippi River, letting you explore historic and beautiful cities such as New Orleans, Baton Rouge, Natchez, Vicksburg, Memphis, and many more. The cruise originates from Louisiana and takes a scenic route up till Minnesota. On this cruise, you can enjoy views of the scenic coastline on the full 360-degree deck and treat yourself to a variety of cuisines. Nashville to Chattanooga (or Reverse) by American Queen Steamboat Company This is a nine-day river cruise that spans the scenic Columbia River. The cruise offers unlimited shore excursions beginning with a hotel stay at Chattanooga, Tennessee. The ship cruises along small river towns and lush landscapes. It lets you explore stories of the Civil War at Decatur and unwind to some R&B music in Florence. While on deck, the cruise offers world-class wines, locally brewed craft beers, and specialty coffees. The cruise also has a dedicated fleet of deluxe motorcoaches. Hudson River Cruise by American Cruise Lines This company offers cruises that last more than a week, and they include a wide variety of destinations. For instance, the Hudson river cruise lasts for seven days and eight nights, and takes a mesmerizing route along the Hudson river, which is surrounded by the Catskill, Taconic, and Berkshire mountains.

Browns NFL single games ticket sales for 2021

Browns NFL single games ticket sales for 2021

Football season is here, and the excitement couldn’t be more! If you’re looking for Cleveland Browns single game tickets for 2021, we’ve got you covered. From ticket prices to venue to timings, you can find all the information below. This Paul Brown-founded football team has a huge fan following, and surely the fans wouldn’t wanna miss out on some outdoor fun after an overwhelming year. Here’s all you need to know about the Browns ticket sales! Cleveland Browns vs. New York Giants Day: Sunday Date: August 22nd, 2021 Time: 1 PM Venue: FirstEnergy Stadium, Home of the Cleveland Browns, Cleveland, OH Ticket price: Ranging from $16 to $999, depending on the section and row. Cleveland Browns vs. Houston Texans Going against Houston Texans in week 2, here’s what you should know: Day: Sunday Date: September 19th, 2021 Time: 1 PM Venue: FirstEnergy Stadium, Home of the Cleveland Browns, Cleveland, OH Tickets: Depending on the row and section, the tickets for one person range from $143 to about $1,000. Cleveland Browns vs. Chicago Bears Day: Sunday Date: September 26th, 2021 Time: 1 PM Venue: FirstEnergy Stadium, Home of the Cleveland Browns, Cleveland, OH Ticket price: Ranging from $169 to $1,200. Cleveland Browns vs. Arizona Cardinals Day: Sunday Date: October 17th, 2021 Time: 4:05PM Venue: FirstEnergy Stadium, Home of the Cleveland Browns, Cleveland, OH Ticket price: Ranging from $96 to approx. $650. Cleveland Browns vs. Denver Broncos Day: Sunday Date: October 21st, 2021 Time: 8:20PM Venue: FirstEnergy Stadium, Home of the Cleveland Browns, Cleveland, OH Ticket price: Ranging from $126 to approx. $1,400. Cleveland Browns vs. Pittsburgh Steelers Day: Sunday Date: October 31st, 2021 Time: 1 PM Venue: FirstEnergy Stadium, Home of the Cleveland Browns, Cleveland, OH Ticket price: Ranging from $148 to approx. $1,075. Cleveland Browns vs. Detroit Lions Day: Sunday Date:

Top e-stores for custom logo sticker printing

Having a custom logo sticker on products lets customers connect with the brand. Seeing a particular label time and again helps people remember it and motivates them to go back and interact with the brand or company. So, if your business is in the early stages, this is the next step to solidify your brand identity. Get one of the following logo sticker printing services on board to print high-quality labels and help get your brand noticed. StickerGiant StickerGiant has a fun mix of glossy labels, clear stickers, and paper labels that can be customized for different kinds of products. You can bulk print logo stickers by placing an order on StickerGiant’s website. After you upload a picture of your logo and finalize the order, StickerGiant will deliver highly personalized labels. For an example of estimated costs, if you pick 125 glossy white, circle-shaped 3″ x 3″ labels, the price will be $88.27. If this is too expensive, you can order higher quantities to bring down the cost per sticker. Jukebox Jukebox is the perfect choice for visually appealing stickers that are also long-lasting. Their scratch- and weather-resistant prints stay intact for up to 5 years, come snow, sunlight, wind, or rain. You will see customization options when you visit their website. We like that they can print shapes suited to the outline of the logo for a one-of-a-kind label. This e-store has affordable packages as compared to StickerGiant. An order of 100 standard gloss, 3″ x 3″ logos will cost you $53.00, which lets you spend less on prints without compromising on quality. StickerYou With a user-friendly interface and cool options like holographic labels, StickerYou is an incredible e-store for logo sticker printing. You can order custom die-cut vinyl stickers, labels, decals, and tattoos in any size, shape, and quantity.