Category: personal finance

Construction projects are typically complex and more detailed than other projects. Thus, they require better financial and time management to ensure proper utilization of resources and accountability.

The process of construction financial management involves planning, organizing, and controlling financial resources used in the project. These features help you avoid delays and complete the project within the estimated time.

Below are six basics of construction finance management:

• Basic Accounting Terms In Construction 

You can manage your finances successfully with a good understanding of the terms below: 

• Cashflow: Having enough cash on hand allows you to cater to everyday construction bills, for instance, paying salaries to your laborers. 
• Gross Revenue: It refers to the total amount of money accrued from your construction services. It includes profits and expenses.
• Break-Even: The break-even point is where your expenses equal your gross revenue. In other words, it’s when you start running your project with fewer costs than your anticipated revenue. 
• Net Profit: It’s the difference between your total revenue and expenses. You can tell if you’re making profits or losses from your net profits. 
• Sales: Your construction company can benefit from selling services such as engineering and consulting. 

Understanding these terms helps you prepare the requisite financial reports. 

• Construction Finance Management Skills

Construction finance management may prove tedious and time-consuming if you attempt to handle everything solely. The most guaranteed tactic is to hire dedicated staff to assist with finance-related tasks. Some crucial staff members you must hire include a chief financial officer (CFO), project manager, quantity surveyor, and finance manager. 

Perhaps you might wonder: what does a CFO of a construction company do? To set the record straight, a CFO primarily analyzes your current financial strategies, crafts feasible solutions to minimize financial constraints, and ensures you comply with local laws. Ultimately, they help lower the overall financial risks of your construction projects.

• Construction Finance Management Tools 

When carrying out tasks related to construction financial management, it’s essential to use up-to-date software and tools. They make work easier and ensure you don’t run your business on inaccurate figures. 

Utilizing enterprise resource planning (ERP), a typical component of construction financial management, will help you generate reliable reports. The two primary ERP tools on the market are Oracle and SAP. You may want to check out an Oracle ERP vs SAP comparison for more insights into their features and benefits.

Remember, your project has some estimated time targets you need to meet. Thus, using such tools ensures you don’t spend more time than is necessary organizing your finances.

• Taxes

Another fundamental construction finance component is taxes. They may vary depending on different states, and you can’t evade them. Besides building licenses and permits, other construction-related taxes include the following:

• Construction Industry Scheme (CIS) is compulsory if you’re a contractor.
• Corporation tax
• Land rates
• Council tax
• Stamp duty land tax

It would help if you didn’t try to avoid paying the relevant taxes since this will put you in trouble with the government. You’ll also pay more legal fees as punishment for your actions.

• Construction Cost Estimation

One way to figure out the cost of construction is by estimating. This process includes forecasting the actual cost of building the structure through quantity takeoff, wherein you carry out a detailed measurement of materials and labor needed to complete a project. It helps avoid starting a project and stalling midway due to a lack of finances. 

Appropriate construction cost estimation is essential for both the contractor and the client. You avoid losing money, and the client avoids paying too much. Meanwhile, throughout the project, you’ll have to do cost control, which entails adjusting the initial estimates. Material prices may not turn out as anticipated, especially with inflation. 

Thus, adjustments are necessary throughout the project. In most cases, the goal is to reduce the cost incurred during construction. Using this strategy, accountants can minimize overspending, returning the project to its baseline.  

• Separate Your Personal And Business Finances 

Separating your personal and business finances is best when running a construction company. It helps set a good credit history. Moreover, separating your personal and business finances enables you to manage your finances effectively. Also, it’s a good practice if you want to set internal financial guidelines.

Conclusion

Effective construction finance management helps minimize resource wastage, ensuring every project becomes profitable. It starts by hiring the right people and acquiring cutting-edge tools for the job. This way, you’ll effectively eliminate the threat of mismanaging your finances. Moreover, you can complete projects within the proposed budget and timelines, an essential bit of client satisfaction.

TFC Title Loans we are here to help you to to get the right title loan for you, when you need to get some fast money, there is no other company that can do it better for you.

 

In the world of precious metals, gold is considered king. It is the first option that comes to mind for most investors looking into alternative investments to bonds and stocks. However, is silver a good investment?

From time to time, it’s worth shooting up so much that it outperforms gold. The answer to whether silver is a good or bad investment depends on various factors. Keep reading to learn about them.

Why silver is a bad investment, will all depend if you want to have shorter gains, or a long-term investment strategy, in the long term it is a safe investment, but the returns will be slow.

Is Sliver A Good Investment?

1.    Expanding Your Portfolio

Like other natural resources, silver is considered a commodity. It is a tangible, publicly-traded asset. The prices of silver, therefore, go in the opposite direction of bonds and stocks. When the stock market is not doing well or the economy seems to be in recession, investors can start learning how to buy silver because It is a great investment option because it is impacted by various influences. Many investors get into the silver business during political turmoil and economic recession.

Silver can be an inflation hedge. Unlike traditional currencies, silver has an intrinsic value. It retains its value for a long time and does well even when interest rates are low. It is one of the safest investments.

2.    Versatility

Silver is used in various manufacturing applications. From medical equipment and batteries to jewelry, metal is a staple in various industries. Because of its high conductivity, silver is used in the electric automotive, and solar energy industries. The versatility of silver means its demand will continue growing over the years.

3.    It Is Money

Silver may not be a traditional form of currency but it is money. Physical silver cannot be depreciated or created from nothing like digital forms or paper. Silver may help you store value for a long time. Its benefits include:

•  It has no default risk. Few other investments can match this guarantee
• The use of silver is just as long-term as real money.
•  Silver does not have counterparty risk. With physical silver, you don’t need any other party to make good on your contract

4.    It Is Cheap

Silver is valuable but it isn’t as expensive as gold. Its cost is about 1/70th of gold and it offers just as much protection. Silver is perfect for an average investor or for giving gifts. When you want to give a hard asset without spending too much, silver may be a great option.

5.    The Supply Is Dropping

The supply of silver is likely to drop over the years. After rising in 2011, the price of silver dropped. It crashed by 72.1 percent over the next five years. Miners were forced to lower their costs to earn profits. Some of the areas that were affected significantly were the exploration and development of new mines. Spending lots of money and time looking for silver means there will be less silver to find. The drought in development and exploration may be an advantage to investors.

6.    Practical for Small Purchases

Silver is not only cheaper to buy, but also more practical for small purchases. It is great for investors who want to sell. You can sell a small ounce of silver when you need some money. Its denominations are smaller than gold and therefore, easier to sell.

The Risks of Investing In Silver

Like with any other investment, silver presents a few challenges and risks. The most obvious one is that it may be sensitive to a recession. Since it is driven by industrial growth, silver prices may drop in case of an economic shutdown.

Silver prices can be unpredictable. Since it is worthy in various categories, the price estimations can vary wildly. The industrial value of silver is typically different from the investment value. If, for example, investors are bidding silver prices up, their value will rise. However, the incentive to recycle may arise in the industrial world causing an oversupply and a drop in prices.

Even though silver is used in various applications, there is always the potential of being replaced with a different metal. It is vulnerable to changes in technology.

Since silver is a tangible commodity, it has limited potential for appreciation. Unlike bonds and stock, it does not offer any interests. The best way to get a profit is by selling during price rises.

It is prudent for all investors to find out if an asset is worth their money and effort before investing. Silver is not different. Even though it has a small market and does carry as much grandeur as gold, the benefits of investing in silver outweigh the disadvantages.

This article was brought to you by TFC Title Loans, we try to bring to you the most informative information. If you are interested in getting a car title loan local to you, we are able to help you with our large referral network.

All of our referral partners are in compliance with the CFPB. We will help you to get the money that you need but from a trusted and reliable online title lender.

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You work hard, but it always seems like living costs more than you make. When you’re faced with a financial crisis, you might not have the time or credit score to go the traditional route of a bank loan. It can take several days or a week to secure a bank loan.

A car title loan can be secured the same day and put much-needed cash in your pocket within hours. However, as you pay off your car title loan, you might find that your financial situation doesn’t improve.

A bad financial situation can lead many people to consider filing for bankruptcy to get out of a mountain of debt. But what about your car title loan? You wonder, can you file bankruptcy on a title loan? This guide can help you understand car title loan and bankruptcy better.

You may also be wondering can I get a title loan while in bankruptcy chapter 13? The answer is no, the lender will not be protected once your bankruptcy has started.

What Is a Car Title Loan?

When you need money quickly, you can go to TFC Title Loans and secure a car title loan. The company loans you money based on the value of your vehicle, and they hold a lien on your car or truck while you pay the funds back along with interest.

You make your payments over an agreed-upon period. After you pay the money and interest to the company, they return the title of your car without a lien back to you.

In many cases, the car title loan company doesn’t require a background check. They can also provide you with money on the same day, and the process only takes a short period of time. However, you do need to own your car and have a clean title.

What Is Bankruptcy?

When you’re overwhelmed by debt without any way of possibly repaying it, you can file for bankruptcy. This is a legal process that can help you by offering relief from your debts. Bankruptcy is an option for both individuals and companies.

There are a couple of types of bankruptcy that you can file for with the courts: Chapter 7 and Chapter 13. With Chapter 7 bankruptcy, the court wipes away most of your debts and gives you a fresh while Chapter 13 provides relief from some of your debts and creates a more reasonable repayment plan for the remaining money owed.

When you file for bankruptcy, you’ll probably need to hire an attorney, and the request for bankruptcy is filed at your location, no matter where your creditors are located.

There is a cost associated with a bankruptcy case. You’ll need to pay the attorney fees and also a filing fee with the courts. A judge will look over your finances from your income and assets to your monthly bills and creditors.

The judge makes the final decision on whom you repay and who you don’t along with how much of a debt you need to repay.  There are no guarantees when you file for bankruptcy.

Car Title Loans and Bankruptcy

When it comes to a car title loan and bankruptcy, it’s similar to your mortgage. You’ve used an asset as collateral for the loan, so most car title loans remain intact throughout the bankruptcy process.

You wouldn’t expect to own your home free and clear after bankruptcy, and the same thing applies to a car title loan. The bankruptcy process might affect your payment amounts or the length of the repayment, but it more than likely won’t wipe it away.

In some cases, as a result of filing bankruptcy, you might need to surrender the vehicle and wants the bankruptcy discharged. You do have the option of not including the car title loan in your bankruptcy.

The truth is that the title loan company doesn’t want to repossess your car. It’s a hassle. They have to file the appropriate paperwork, clean it up, and find a buyer who is willing to pay at least the amount owed on the car title loan.

They’d much rather have you make the payments and get your car title back once you’ve paid off the amount owed plus interest. If you find yourself in a bind, it’s always a good idea to communicate with the auto title loan company.

Benefits of a Car Title Loan and Reasons to Meet Your Obligations

When you need money fast, you might consider an online car title loan. However, you have concerns and want to know that there are real benefits to choosing this option and meeting your obligations of a car title loan.

Fast Process

With a car title loan, you can usually go through the loan process in less than an hour, and in some cases, around 30 minutes, if you have all your documents ready and complete. These documents include:

• Car title
• Vehicle registration
• Personal identification
• Proof of residency
• Proof of insurance
• Financial documentation
• Personal references

These documents help make the process run more smoothly.

Keep Your Vehicle

A car title loan means you keep your car while you pay off the money and interest that you own. If you sold your car for quick cash, it’d be gone. It’s important to note here that a car title loan is an obligation.

If you don’t make your payments or file bankruptcy on the title loan, you may lose your vehicle. Also, the repossession of the vehicle might lead to additional fees and expenses that you’ll need to repay at some point.

Same-Day Funding

When you go the traditional route for borrowing money, you can expect to wait a few days or a couple of weeks to get the cash you need. Most car title loans can offer you cash on the same day.

Bankruptcy is a valuable tool to help people in dire circumstances get out from underneath their crushing debt. However, bankruptcy won’t necessarily release you from the obligations of a car title loan. You can always opt to leave the car title loan out of your bankruptcy and protect your vehicle.

This article was brought to you by TFC Title Loans, we try to bring to you the most informative information. If you are interested in getting a title loan nearby, we are able to help you with our large referral network.

All of our referral partners are in compliance with the CFPB.

Running a business is hard. It’s even harder if you don’t have the money to fund your business strategies and goals. Without a helping hand in the form of cash, you won’t be able to grow your business. 

That said, small business loans are the most reliable source of financing. Unfortunately, it’s not easy to get approved. Applying and preparing for a business loan can be tricky, particularly if this is your first time. However, you don’t have to worry as this article will share with you a comprehensive guide to help you prepare for and ensure a successful business loan. 

Understand Your Needs

The first step is to understand why you need a loan.

Perhaps, you need to hire a freelancer or build a website. Maybe, your clients are paying invoices late, and you need to pay your employees. Or, probably, you’re thinking of taking your business to the next level, opening a new branch, or simply revamping your commercial space. Regardless of the reason, ensure that you have a detailed plan so you can use it properly. 

Thus, you also need to identify how much funds you need, how much you can afford to repay, and how soon you need them. When considering these aspects, make sure to think of seasonal fluctuations or potential financial scenarios that your business may face. 

Prep The Necessary Documents

It’s good practice to document everything about your business. This includes your assets, revenue, debts, and expenses. You need to back these items up with the right paperwork. Avoid waiting until you’re finally applying to get organized. Otherwise, it can really slow down your application and receiving of funds. However, by establishing your bookkeeping and accounting processes right now, you can make the loan application process smooth and easy—both with current and future applications.

If you need someone to lead and manage your finances, outsourcing fractional CFO services is a good option. This way, you can have streamlined and proactive cash management, complete with services like bookkeeping, tax services, and accounting. They can also help you prepare the necessary documents you need, whether for applying for a business loan or optimizing your finances. 

Traditional VS Online Lenders

Decades ago, the only way to get a business loan was through traditional lenders, such as banks, credit unions, and other financial institutions. Today, however, getting a business loan online is also an option. But, which one should you choose?

Either option has its own pros and cons. Dealing with traditional lenders is generally cheaper. It’s also easier to get a loan if you already have an existing relationship with the lender. Plus, established banks and other traditional lenders have already established their reputations, ensuring minimal risks. That said, it can be difficult to get approved for traditional loans. Plus, getting your funds can take weeks. 

Meanwhile, online business loans are best known for their convenience. It’s relatively easier to apply for online loans, and they have a faster funding time. Some services also offer to fund those with bad credit. Take note, however, that the convenience you get comes with a higher interest rate than banks. If you’re not too careful in choosing your online lenders, you may also end up getting scammed. 

So, consider weighing in your needs and decide which option is best for your business. Consider your approval chances and for what you need the funding. 

Build Your Credit

Your credit score has a significant impact on the credibility of your business. It shows lenders that you can pay your bills on time and can manage your debt effectively. That said, you need to start small. As a startup, you probably won’t qualify for bigger bank loans; however, a business credit card should be a good starting point. 

As you responsibly use your business credit card, you can build your business credit and boost your credit utilization ratio. These can help boost your creditworthiness and help you get bigger and better loans in the future. 

Take note, however, that your business’s loan approval is more than your credit score. Most lenders also consider other factors, such as business reputation with your community and customers, your business’s age, and previous experience in the industry. 

Takeaway

Getting a business loan can be daunting. Obtaining a loan to grow your business can be an exciting venture, but, at the same time, it also makes you worried about making a mistake that could negatively impact your finances. Hopefully, this article has helped you learn how to become fully prepared when it’s time to take out a loan. 

Here is a book review on Rich Dad Poor Dad, this is a great book for financial education, in the book the author Kiyosaki talks about his experience of a rich dad and a poor dad, they each had different views of life and money.

In the book, it will tell you how the rich think about money, and how the poor or middle class think about money, rich people see money as a tool to maker more money, whereas poor or middle-class people see money to buy things.

Financial education is what the book will teach, and financial freedom will give you freedom and wealth, this book has sold millions of copies, and is a must-read.

Rich Dad Poor Dada Big Ideas

1. The poor and the middle-class work for money. The rich have money working for them.
2. It’s not how much money you make, it is how much money you keep.
3. Rich people acquire assets, poor people and the middle class acquire liabilities but they think that they are assets.
4. Financial aptitude is what you do with your money once you have made it, how you keep people from taking your money from you, and how you make your money work hard for you.
5. The single most powerful asset you have is you.

Rich Dad Poor Dad Lessons

1.  The Rich Don’t Work for Money
2.  Why Teach Financial Literacy?
3.  Mind Your Own Business
4.  The History of Taxes and The Power of Corporations
5.  The Rich Invent Money
6.  Work to Learn—Don’t Work for Money

After you read this book, you will never see money the same way, you need to change your mindset, and how we have all been trained to look at money.

Here are the important takeaways from the book:

Be Brave

You need to be brave, do not be afraid, and go against how we have all been taught in our schools, we are tought in school to work for money,  the education system is built on producing a workforce for companies.

The sytem is designed to keep you in the rat race, and not question the system, htis book tells you what you need to do, but you must be brave.

 Make Money Work For You

The book tells you that you need to make your money work for you, and not the other way around, buying businesses that run by themselves, buying real estate and collecting the rent, buying stocks, bonds, or a business, that does not require you to run it.

Poor people stay poor by spending all of their money, living paycheck to paycheck, the middle class stays in the middle class by saving all of their money, and the rich get richer by making their money work for them.

The rich know that money in your savings account is only used to create more money, and not to pay bills, the investor’s first question should be how fast will I earn my money back.

Financial Literacy

The book will tell you that it is not how much money that you make, but it is how much money that you keep. Keeping your money is very hard to do without financial literacy.

Without financial literacy, there is no money, there have been plenty of rich people who have made their money and lost it because they did not have their money working for them.

Making money and keeping your money are two different things, so it is important not to confuse the two, with financial literacy comes great responsibility. With financial literacy, you will realize that half of your expenses are just useless liabilities.

 Mind Your Business

Starting your own business is what the book focuses on, the book focuses on building your asset column instead of your income column.

Once you have money going into your assets column, never let it come out. When you have a chance to buy more assets, get them, build up your assets.

Do not reward yourself with buying luxury items with your hard-earned money, buy more assets to make your money work even harder for you. Then you can buy assets to generate income, and then you can buy luxury items.

Buying stocks can be your business, buy more when you can, attain real estate, or bonds, simply focus on appreciating assets, not depreciating assets. Small stocks and bonds can turn into big things over time.

Set Up Corporations

Setting up corporations is the biggest secret of the rich, it is a way to avoid paying unnecessary taxes, the tax rate is lower than the individual tax rate.

A corporation earns and spends everything it can, and is taxed on anything that is left. It’s one of the biggest legal tax loopholes that the rich use to their advantage, buying assets, allows them to use their money, and not pay any tax.

Having a corporation there are more expenses that can be written off as business expenses with using pre-tax dollars. Without having a corporation the harder you work the more money you will pay the government.

Your corporation can pay for your vehicles, and many expenses, that otherwise you would be taxed on.

You Are Your Best Asset

Changing the way that you think, and seeing opportunities are what the rich do. The rich look to make millions, with the poor worrying about getting a pay raise. The rich are taught to have a higher financial IQ, they look for opportunities.

Look for opportunities, change the way you think, do not cling to your old ideas, they will keep you poor. Opportunities are seen with your mind, you have to use them.

Your old ideas are just liabilities, you need to look for asset opportunities, invest in yourself, and look for your opportunities.

Know A Little About A Lot

The rich dad believed in knowing a little about a lot, but schools teach their students to be experts in certain fields, they teach you to specialize in one topic, so that you can stay in your job for a lifetime. That system is designed for you to work hard, earn a paycheck, get a promotion, and earn little money.

For rich people, it is good to know a little about a lot of things, learning about different opportunities is how rich people can build long-term wealth. educated people fail financially, as they believe the job is everything.

Do not get stuck in one field, learn about multiple fields, to see more opportunities.

 Skills That You Will Need

Communication skills are important, you need to be able to communicate with your writing, speaking and your negotiating, continuously work on your communication skills.

Learn to be great at selling and marketing, if you do not have these skills it is difficult to become the success that you deserve.

You will also need to know how to manage cash flow, how to manage systems, and lear management systems, so no matter what field you go into, you will be able to operate or have the knowledge on how things are run.

Obstacles Of Fear

Poor people are afraid to take risks, but rich people are always willing to take more risks, they understand that with every opportunity there are risks involved.

No one ever likes to loos money, and there are plenty of rich people that have lost money. There are also plenty of poor people who have never lost a penny.

The main reasons why the poor stay poor and that they have fear trying something new, they are afraid of cynicism, they could be lazy, they have built up many bad habits, or they are too arrogant or not brave to try something new.

Lessons

Do not be afraid to start something new, everyone has to start somewhere, start small, and then you can grow your business in to something big.

Think big, have big dreams and strive to achieve them. You can achieve great things, some dreams can be scary but go for them.

Be open-minded, look into new ideas, close-minded people are after job security, not about becoming wealthy. Read plenty of books and articles, talk to people in other industries, look for opportunities.

Do not be stuck in the same job, and do the same job until you retire, assess yourself, and assess what you are doing and look for other opportunities.

Major Points In The Book

The book Rich Dad Poor Dad states that you do not have to earn a high income to be rich, between his rich dad and his poor dad, thought the author Robert Kiyosaki on how he thought about money and investing.

He learned that rich people make their money work for them, and poor people work for their money.

It is not how much money that you earn, it is how much money that you keep, not giving your money to the government.

Poor people acquire liabilities and they think they are assets, while the rich people acquire assets.

What do you do once you have made your money, how do you keep people from taking it, how to make your money work for you and how to make it grow.

Rich Dad Poor Dad Tips Form The Book

your should keep your daytime job, but start buying real assets, and not liabilities, the author Kiyosaki says to mind your own business, this means you should keep your eye on your asset column.

If you have income-producing assets, the best thing is that the assets work twenty-four hours a day, and they will continue to work for generations.

The difference about rich people, they will buy the luxury item last, whereas the middle class or poor people will buy the luxury item first, real luxury is the reward in having a real income-producing asset.

When you work for your money, you give them the power to your employer, if your money is working for you, you have the power.

1. The rich do not work for money.
2. Lear financial literacy.
3. Mind your own business.
4. Taxes and corporations.
5. Learn to work, do not work for money.

Conclusion About Rich Dad Poor Dad

Your mindset is the most important asset that you have, and you have to use it, being broke is temporary, being poor is eternal. Money can come and money can go, but if you know how money works, you have the power to build your own wealth.

Do not be afraid to make money and to be a success, your financial intelligence will solve your problems and produce money. learning the difference between a liability and an asset is important.

Remember an asset will put money in your pocket, and liability will take money out of your pocket.

The book Rich Dad Poor Dad will teach you about financial literacy, this should be thought in all schools, it would prepare everyone how to make money, cash flow tells the story of how a person handles money, do your self a favor and read the book, it can change your life if you allow it to.

This article was brought to you by TFC Title Loans, we have the largest nationwide network of partners, and we will get you the local title loan that you are looking for.

You depend on your car to get you everywhere, and you need it to run well and last for a long time. However, if you are not performing regular preventive car maintenance, you may not be giving your vehicle the attention it needs to keep running smoothly.

Regular service inspections and learning how to do preventative car maintenance on a car will help your car last longer and ensure that it gets you where you need to go when you need to be there. In addition, regular preventive maintenance can save you from costly emergency repairs or being stranded with no vehicle.

What is Preventive Car Maintenance?

Preventive car maintenance is the regularly scheduled care and protection of your car. Preventive car maintenance is done before your car breaks down or develops a serious issue and protects against potential major repairs.

Negligence is the most common cause of costly, unexpected major repairs. Often, performing regular car maintenance could have prevented the bill for a major repair. Depending on your vehicle, the lack of preventive maintenance on certain parts and components has the potential to void the manufacturer’s warranty.

Maintenance intervals are designed to keep your car running safely and efficiently, improving your vehicle’s durability, reliability, and resale value. The service intervals for your vehicle are impacted by several factors, including your driving conditions.

For instance, short drives with a lot of stop-and-go traffic or carrying heavy cargo are considered severe driving conditions and require your vehicle to have more frequent servicing. Severe driving conditions can also result from extremely hot or cold temperatures, rough roads, high elevation, and dusty or salty environments.

Because of these many factors, scheduling and adhering to a strict preventive car maintenance schedule can help keep your vehicle operating at maximum efficiency. While preventive car maintenance covers every component of your car, these are some of the most important preventive car maintenance services.

Change Your Oil and Oil Filter

While an oil changes every 3000 miles used to be the standard interval, that has changed. With today’s advanced engines and modern synthetic lubricants, most manufacturers recommend an oil and filter change every 5,000 to 7,500 miles, with some stretching the interval to 10,000 miles.

Rotate Your Tires

Friction causes all tires to wear with use, but they wear differently depending on their position on your car. For instance, the front tires on a front-wheel-drive vehicle will wear slightly faster than the rear tires under normal conditions. The front tires also wear faster because they handle the steering and most of the braking force.

During a tire rotation, your tires are removed, positions rotated, and then remounted. Regular tire rotation helps to ensure even wear of all four tires and is usually recommended every 7,500 miles or at the same interval as your oil and oil filter.

Balance and Align Your Wheels

Typically, most manufacturers recommend that your wheels are balanced and your vehicle aligned every 5,000 to 7,500 miles. Balancing your wheels ensures that the tire and wheel weight is distributed evenly around the axle, so your tires don’t wobble or bump as you drive down the road. In contrast, an alignment ensures that your tires are parallel to each other and track straight, improving your ride comfort, increasing fuel economy, and reducing uneven tire wear.

Install New Windshield Wipers

We often don’t give much thought to windshield wipers, but they are vital for safety when we need them. As they wear, the wiper blades stop making complete contact with the windshield, which causes them to leave streaks and smears, limiting your visibility.

Over time, the constant exposure to the elements and road pollutants causes windshield wiper blades to deteriorate. After a season or two of rain, sleet, snow, ice, UV rays, oil, dirt, and grime from the road, your windshield wipers will begin to lose their effectiveness. Having your windshield wipers replaced as soon as you notice they aren’t working correctly will ensure that you don’t get caught in the rain with poor wipers and no visibility.

How Can Preventive Car Maintenance Save Money?

Many vehicle parts and components wear naturally with use and time, while road hazards can have a negative impact on critical components. By following the recommended preventive maintenance schedule provided by the manufacturer in your owner’s manual, you can avoid expensive repairs and ensure that your car performs optimally.

Depending on your car’s make and model, the service interval mileage and preventative car maintenance requirements may vary. Preventive maintenance at the intervals suggested in your owner’s manual may include an inspection of your vehicle steering and suspension components, brakes and axles, belts and hoses, fluid and filters, tire wear and inflation levels, and other critical components to help ensure that your car functions safely and efficiently.

Your owner’s manual includes a preventative maintenance schedule for every component of your vehicle, including checking exterior and interior lights, inspecting hinges and locks, examining windshield wiper blades, checking the battery, inspecting the level of ball joint wear, and checking exhaust system components.

Scheduling and performing preventative car maintenance is critical to keeping your car safe and functioning as intended. Depending on road conditions, the type of driving you do, and environmental factors, you may have to schedule and perform preventive maintenance more frequently.

In addition to eliminating expensive unplanned and unexpected repairs, performing preventive car maintenance can help save on your fuel consumption. According to Edmunds, a properly tuned vehicle can improve gas mileage by about 4%, and keeping your tires properly inflated can add just over 3%. Additionally, a dirty air filter can reduce fuel economy by up to 10%, while more severe issues, such as an oxygen sensor, can decrease fuel consumption by as much as 40%.

Scheduling and performing preventative car maintenance is critical to keeping your car safe and functioning as intended. Depending on road conditions, the type of driving you do, and environmental factors, you may have to schedule and perform preventative maintenance more frequently.

Overall, performing preventive car maintenance according to your owner’s manual’s suggested intervals will prolong the life of your car and provide significant savings in operating costs and unplanned repairs.

Depending on your vehicle, the lack of preventive maintenance on certain parts and components has the potential to void the manufacturer’s warranty.

You can always keep your car maintained within the registered and authorized dealership if your car is still under the warranty, as that would mean that the manufacturer will cover the maintenance fee. There’s also an option to get an extended warranty, to purchase one in case your original warranty already expired. Check all of the options, but make sure to keep an eye on regular car maintenance.

This article was brought to you by TFC Title Loans, we try to bring to you the most informative information. If you are interested in getting a title loan in your area, we are able to help you with our large referral network.

All of our referral partners are in compliance with the CFPB.

It is important to have savings account that you can use to store your emergency fund. With a savings account, you can easily withdraw the funds to cover unexpected issues like car repairs, paying bills, and other needs. However, not all savings accounts are created equal, so there are essential factors that you must consider before opening one. Here are three important things you should know about having a savings account. 

1. Monthly Service Fees

A savings account is a service that is offered by different banks, and it often comes with monthly fees, and these fees vary depending on your bank. The service fees are specifically meant for keeping your account with the bank. In some instances, a bank will charge a penalty if you fail to maintain a specific minimum balance. If your account balance goes below zero, the bank may charge you overdraft fees. The money is withdrawn from your account, so you should try to be careful to avoid additional costs that can impact your savings.  

However, the good thing is that some banks do not charge any monthly fees, instead, they have a minimum balance that you should maintain so that nothing is charged from your account. Therefore, it is important to shop around and compare the fees charged at different banks when it comes to savings accounts. You need to read the fine print and understand all terms before you open an account with a particular bank. Above all, a savings account is cost-effective, it is a smart way of saving money for emergencies. 

2. Interest Rate

Depending on the type of account you have, you can earn high interest from your savings account. Essentially, a savings account is a perfect place to grow your emergency fund. The problem is that some banks offer little interest rates of about 0.01 percent, which means that it might not be possible to increase your income quickly. All the same, a savings account is a safe place for keeping funds that you may need to access quickly to cover an emergency. 

If you choose a high yield savings account, then you can enjoy a higher rate of growth A yield savings account offers higher interest on your funds than a traditional bank. Financial consultants at MoneyMash explain that this type of account is an excellent place to keep your emergency fund for bigger expenses like vacations, home down payments, or other costs that you need to be covered. Interest rates are determined by the US Federal Reserve, and you can earn higher returns in some years more than others. More importantly, high yield accounts are FDIC insured, which means that your money would be protected. You will have no worries about losing your investment should anything happen to the financial institution holding your money.    

3. Easy Withdrawal

With a savings account, you can easily withdraw your money whenever you want to use it. You will be able to get your cash in the middle of the night if your bank has automated teller machines (ATMs) in your area. You can also withdraw cash from the banking hall if you want. Additionally, this type of account has no restrictions like other accounts, where you may not be able to get your money instantly. 

However, you should know that a savings account is primarily designed for saving money, so it does not operate the same way as a checking account. The Federal Reserve sets limits to the number of withdrawals that you can make per month. With most banks, you cannot make more than six withdrawals from your account each month. Some banks even allow fewer withdrawals than the recommended six. If you exceed the limit, your bank will charge you additional fees for each withdrawal. Therefore, shop wisely if you want to get a convenient savings account.   

A savings account is important since it helps you to keep your emergency funds with a specific bank. This type of account allows you to earn interest since it is more like loaning your money to the bank. However, the interest rates vary depending on the type of account you have and the bank. A savings account also comes with other benefits like easy access to funds in case of an emergency. 

Apart from these apparent advantages of a savings account, there are also other crucial things that you should know before opening one. For instance, you need to understand the aspects of fees charged by different banks and the withdrawal process of your funds. Most banks offer limits on the number of withdrawals that you can perform per month.

This article was brought to you by TFC Title Loans, we try to bring to you the most informative information. If you are interested in getting a car title loan near me, we are able to help you with our large referral network.

All of our referral partners are in compliance with the CFPB. We will help you to get the money that you need but from a trusted and reliable title lender.

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This article was brought to you by TFC Title Loans, we will give you some title loan tips, we try to bring to you the most informative information. If you are interested in getting a title loan near you, we are able to help you with our large referral network.

We will help you to get the most money by using the equity that you have in your vehicle, the application is fast and we can provide you with same-day funding.

All of our referral partners are in compliance with the CFPB. We will help you to get the money that you need but from a trusted and reliable title lender.

Title loans can be a great way to get more financial flexibility when you have unforeseen emergencies, but can a title loan take your car away? Just as with collateral on any loan, if you default your car could potentially be repossessed.

If you’ve chosen a reputable lender for your title loan, however, there is usually a multitude of ways to ensure that you don’t default on your payments. While good lenders will usually work with you when they are able if you’re having trouble making payments, borrowers who don’t pay back their loan at all may end up defaulting and find their vehicle at risk of repossession.

Car Title Loan Repossession

In a car title loan, if the borrower fails to pay back the loan, the lender may have the option to repossess the vehicle and auction it to pay for the outstanding principal owed on the loan. The process for repossession is a little different in each state. Many states have “right to cure” policies, which require a lender to send a notice of their intentions to repossess, after which the borrower has a set number of days to clear the debt before repossession can occur. Other states have entirely different systems governing the process of title loan repossession, but most require that the lender make some sort of formal declaration of their intention to repossess in advance. Make sure to be aware of the laws in your own state.

After a vehicle is repossessed, it will often be taken to an auto auction to recoup the lenders’ losses from the loan. Again, this is a process that varies greatly by state. Some states will require that once your car is sold, any money beyond the amount of the debt will be returned to you, but many allow the lender to keep any differences between the money you owe and your car’s value. Some states may even allow a lender to auction your vehicle and still come after you for even more if the price the car sold at didn’t cover your loan.

How to Avoid Repossession From a Title Loan

For any loan, the prospect of defaulting can be scary. When you take a loan, you accept the responsibility to pay back your lender on time. Lenders rely on these repayments, so there does need to be some way for them to recoup losses from people who just refuse to live up to their end of the bargain. While car title loan repossession may seem harsh, it’s a tool that most lenders only use when there are no other options.

Reputable car title lenders want to maintain their reputation of quality business practices, and all the paperwork and labor that goes with repossessing vehicle and selling it at auction gradually deplete the money that they would recoup from doing so. Lenders don’t want to repossess anybody’s vehicle, but often recovering unpaid loans is a wasteful but necessary part of business for them.

Like any other service business, quality lenders want to take care of those that borrow through them. Providing quality service over and overbuilds the trust that is necessary for any financial lender to have with their borrowers. When you are at risk of getting behind on your payments, your lender will probably have options available to set up payment plans or help you organize a way to prevent defaulting. Defaulting on a loan can result in costly fees and hits to your credit score even if repossession never happens, so if you get close to default, or get a right to cure notice, communicate with your lender right away about how you can resolve the situation.

How Common is Car Title Loan Repossession?

The repossession of vehicles to cover car title loans usually creates a lot of extra work for a lender and can be devastating for a borrower, so it’s usually used only as a last resort. Sadly, repossessions do happen from time to time, but there are typically ways to work out a solution for any borrower who makes an effort. When a lender is unable to even contact a borrower to try to work on a solution is often when they will be forced to repossess.

What Can You Do if Your Car is Repossessed?

You typically still have options if your car is repossessed. Again, repossession is typically a departure from normal business for most lenders, and so they would love to resolve the issue before investing more effort and resources into auctioning your car. Once your car is repossessed, you may actually owe more than you did due to the expense of a repo agent and legal fees. Even if it gets to that point though, an established lender will usually be ready to work something out that’s acceptable to both of you.

Often you will be able to pay your past due amounts and any fees associated with the repossession to regain your vehicle. This will mean that you still owe future payments, but that you essentially get to reset to before the repossession. You could also pay your loan in full plus any fees and regain your title. Then, you will likely need to go get your car from a tow yard with the help of a notary. Unfortunately, once your car has been repossessed there won’t be many ways to get it back that don’t involve paying up. This is why quick communication about any lapses in your payments is essential before you default on a loan.

Responsible Borrowing with Title Loans

Borrowing can be crucial to making life goals happen overtime or getting out of a sticky financial spot, but finance is serious business, and you always want to borrow responsibly to protect your future. Before jumping into any loan, you should read all the terms and understand the payment schedule. If you have any questions, ask them before you finalize the loan.

Since repossession of your car can be crippling to your earning power and quality of life, you need to be sure to choose a reputable lender with a long history of quality service to borrowers over the years. When the unexpected delays a loan payment, you want to be working with a quality organization that will find a productive solution that helps keep your head above water.

Here at TFC Title Loans, we have over 20 years of experience in providing title loans in any state they exist. We’ve built our reputation over time by providing fair interest rates and sustainable repayment schedules. We know that lenders and borrowers are partners in a loan, and working together is in everyone’s best interest. Apply online today for a secured title loan, and see how much cash you could get today for your title.