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Posts Tagged ‘Personal Finances’

Personal loans are single payouts lent by a financial institution to an individual borrower. Specific terms, such as the amount of money to be lent and the interest rate, are agreed upon in advance by the parties. The borrower has a certain amount of time within which to pay back the loan. Regular payments, including the interest, are made until the loan is paid back. You must be sure to do a personal loan comparison before agreeing to anything.

It is really quite easy to qualify for a personal loan. The interest rates and fees associated with borrowing these smaller amounts of money are often higher.  Although there are high fees, there will always be a way to find the cheapest personal loans. The cheapest way to do this is to apply through an online lender. Another way to ensure cheaper loans is to do some comparison shopping. There is a lot of competition in the loan industry, so you’re sure to find someone that has cheaper rates.

It is very important to do a personal loan comparison. Personal loans vary widely from lender to lender, and even the same lender will offer differing terms depending on the type of loan you take out or the amount of money you borrow. Only by taking the time to compare personal loans will you know if you are making the best decision. Some people may be interested in credit cards after bankruptcy to help with personal finances.

Interest rates are enormously important factor to take into consideration. One of the first comparisons you should perform is to weigh the pros and cons of fixed rate loans versus variable rate loans. You and the lender agree upon this rate in advance, and it will not fluctuate, no matter what happens with the market. A variable interest rate is a loan with an interest rate that varies depending on the prevailing interest rates set by the Federal Reserve.

Chances are you already know approximately the amount you need to borrow and what your ideal repayment period would be. You will likely find a number of lenders that can accommodate your needs, but it is unlikely that the terms of their loans will be the same. In addition to interest rates, you should compare added costs such as the loan fees, default penalties and minimum monthly payments.

A couple of weeks ago the admin at MoneyPhilosophy.com decided to get back into the stock picking game after having been out of it for a few years. Money Philosophy was immediately drawn to stocks such as GM & C which had taken a huge hit since the stock market fell through the floor in September of 2008. These stocks looked like they were headed back up and he was excited about the chance that they may eventually reach their previous peaks.

His C and GM picks were extremely successful and that got him interested in looking for other stocks like them. He ended up coming across a couple of penny stocks, CTIC and LJPC, that looked like they may break through in a similar way. These stocks were bigger risks but they also seemed to have greater potential for big gains.

That ended up being the case as both CTIC and LJPC ended up being huge gainers.

He thought that he may really be onto something big with the way he was selecting these stock picks so he decided to try and create a stock screener which would find more stocks like them right before they were about to go up.

The reason I’m writing this article today is because his first pick with this new screen reached a high 30% above it’s open today and that certainly impressed the heck out of me. Obviously my imagination is off and running with the kind of gains I could make by following his stock picks.

Obviously I don’t expect every stock pick he or anyone else makes to have this kind of gain. That’s impossible. It’s also important to know that a gain isn’t “official” until you sell the stock. Making the decision of when to sell is equally as important as deciding when to buy. The really cool thing is that he also makes a post on his blog (and on his Twitter account) when he sells.

He doesn’t share the precise way he screens for these penny stocks as I guess he’s a little too selfish to share all of his trading secrets but he shares more than  most do.

Of course he does not suggest that anyone should invest in his stock picks. There’s really nothing to gain from that. He’s clear that he is definitely not giving investment advice. And that’s an important thing to note. It’s always recommended that you do your own investigating before buying stock.

While I understand that it’s tempting buy The Day Trading Robot or Another Stock Picking Robot, I definitely think you will have better gains just by doing what he’s doing. And of course the really cool thing is that it’s completely free.