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If your objective is to shorten the term of your existing mortgage, then brace yourself, even with lower rates, a shorter term often means higher monthly payments. However, the benefit is that you’ll build up equity faster and pay much less in total interest over the life of the loan.

If you were to replace a 30 year $100,000 variable rate mortgage at 8.5% with a 15 year $100,000 fixed rate loan at 6.25%, you would save a massive $114,000 in interest. This scenario would require an additional $82.03 / month. Even without changing the term i.e. maintaining the 30 year mortgage period, you would still save $47,500 in interest, with a monthly saving of $157.85.

In the above examples, I am presuming the variable rate to hold at 8.5% for the duration of the loan.

Restructuring your mortgage as above will offer significant gains in home equity within a shorter time frame. However, there is simply no way of determining the movement of a market over the long term. The risk here, to put it plainly, would be for the variable rate to drop beneath the contract bound fixed rate, thus costing you financially.

Looking on the bright side, you’d have to say were blessed with choice.

Never before has there been such a vast array opportunities for those seeking to get ahead!

You’ve only got to do a quick search online for home based opportunities to realise that there is an absolute plethora of possibilities for you to examine. It would seem that a significant proportion of so called opportunities are simply put, scams, while others may be legitimate but offer little more than a temporary window of opportunity. I believe strongly that anything requiring a multiplication of participants at its core, will not, cannot sustain itself over time. That is not to say you will not achieve a measure of success within a finite time frame, but any concept that is primarily targeting the heart strings and the emotions without adding real quantifiable value is not going to have the legs.

At one end of the continuim exists the ever present pyramid schemes. A classic example of playing with the emotions and contributing nothing. We’ve all seen them, some guy managed to go from broke to paying off his debts and now has the desire to share his success with you. Not withstanding the fact that they are illegal in most developed countries, they seldomly return a profit as there simply aren’t enough gullible people to contribute exponentially to the required list.

MLM or multi level marketing has served the business sector as a means of shifting product in the market place for quite some time now. It is not without its detractors either. It too requires the addition of new members in subsequent tiers in order to be able to add value to the participants. In other words you have to find people to join your business who in turn have to find people to join their business and so on. The distinct point of difference here between pyramid schemes and MLM is the inclusion of actual consumable product. It is an undisbutible fact that MLM is proven to be able to deliver on its promises. I personally know people who even today are still living a very comfortable lifestyle thanks to their efforts and a degree of fortuitous timing. My personal belief is that this system of marketing will and probably has already bumped its head on the ceiling. I spent approximately twelve months witin the Grandaddy of all MLM systems and quickly discovered a strong resistance from the public toward the business conceptually. Having looked at a number of MLM concepts, I found that they have in common the requirement for the members to actively buy rather expensive, perhaps high quality items from the catalogue. This push is not a natural market force and is the reason why I’m not a fan of MLM.

The main concern at this juncture is to sort the wheat from the chaff.

Not all advisors are created equal! How do you determine who is going to treat your money as their own without actually making it their own? Let me say at this point, even if it is patently obvious that the answer is to see evidence of their credentials and establish their track record, don’t, don’t be tempted to short circuit this procedure. The implications of being impatient at this juncture are regrettably all too commonly told.

“If you are looking to become debt free or reduce the burden of your existing debt, then a debt consolidation loan may be exactly what you need”

 Struggling with debt?. You’re certainly not alone!

Today we enjoy more luxuries, more trimmings and trappings than any other generation before us. Not surprisingly, altogether too many of us are faced with the burden of a spiralling cycle of debt with seemingly no way out.

The solution to your problem may be easier than you think. The first step should be to seek advice from an accredited budget advisor. He/she will be able to give an appraisal of your situation and offer concise direction that only an unbiased third party can give. Approach your creditors directly and clearly explain your position. It is not uncommon for these creditors to offer a workable alternative such as reducing or even eliminating the penalty interest, reducing the required installments, or in some cases a partial forgiveness of debt. Your creditors will appreciate your transparency as this offers them a situation they can manage.

Dependant upon your personal situation, a debt consolidation loan may offer the required solution. This is especially the case where credit card and/or store card debt is concerned Bringing all your debts into the one loan will make your debt easier to manage and budget for. Lower interest rates typically found with a debt consolidation loan will more quickly loosen the grip of debt.

There are a multitude of simple yet effective measures to help you in your quest to make your money go further…

Consider…

-Paying bills by direct credit. Some utility providers offer a discount for this method of payment.

-Shopping around. Not all service providers offer the same pricing structure. Review the relative benefits and if necessary make the switch.

-Ask for a discount. An often overlooked means of stretching the dollar. Many businesses will accomodate such a request.

-Car pooling. Travel to and from work can be costly especially with the unprecedented demand on oil pushing prices at the pump ever higher. Consider sharing your car or someone elses as a means of reducing your outgoings.

-Contact your power supplier for useful tips on how to save energy.

-Buy your groceries after youve eaten. Always compile a list of items you need and stick to it

There is no substitute for tackling you problem head-on. Seek professional advice, there are many companies and instruments offering their services to help you with your problem.