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Atlanta, GA (PRWEB) September 06, 2012

Flat fee pricing helps with budgeting

Many customers have already benefited from HarMoney’s flat fee pricing. Mildred, an elderly resident of an assisted living facility recently joined HarMoney’s bill payment service and pays less than she did in late fees on a monthly basis. (http://www.harmoneyllc.com/seniors.html) “Flat fee pricing enables Mildred to save and budget monthly because she knows exactly what the total of her bills will be that month”. says Larry Simms, HarMoney’s Marketing Manager.

Availability to everyone

When customers discover the cost of HarMoney's bill payment service they are astonished and relieved that they can actually afford a personal financial assistant for less than what they pay in late fees. "With the cost of other financial services being so high, when they hear about our flat fee pricing many clients are shocked,” says Simms. HarMoney allows the average individual to get the financial assistance they need without breaking the bank. Having a certified personal financial assistant specifially dedicated to paying their monthly bills, and organizing and managing their daily finances, gives individuals the opportunity to simplify their life.

Larry Simms
HarMoney
(800) 385-4531
Email Information

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Everyone gives out financial advice these days, from your neighbor to your banker.  It can be hard to figure out what advice is useful and what can hurt you in the long run.  Sensible advice can turn into a nightmare if it isn’t tailored to your particular situation.  Let’s look at some common tips that you may want to ignore.

1.      Settle your debt.

Debt settlement firms are a dime a dozen.  They all tout the idea of chopping your debt so you pay less than what you owe.  However, debt settlement companies collect and hold on to payments for a period of time and it can be as long as several months before the settlement process starts, which means several months of delinquency and bill collectors calling.  For those who are already behind on payments, settlement might be the best route to go but for those who are consistently making payments settlement can be a drastic setback.

2.      Close unused credit cards

Many people believe that having unused credit cards is a liability to your credit score.  In fact, hanging on to cards can boost your score.  Lenders will see that you have access to credit and the self-control to not use it.  Closing open accounts will reduce your percentage of available credit which can actually hurt your score.

3.   Use home equity to pay off unsecured debt

People may think paying off old debt with the equity in their home is an easy way to stop the harassment from creditors.  This can be very dangerous.  You may end up with a home equity loan and then end up racking up more credit card debt now that you paid it off.  You have just taken unsecured debt and made it secured, which means you can lose your house if it is not paid.  It is never a good idea to convert unsecured debt to secured.

4.      Borrow the maximum on student loans

Student loans will often approve you for an amount that’s higher than the cost of tuition.  This can seem like extra money for broke college students but this can be a financial headache that lasts well after graduation.  Student loans are not likely to be forgiven in a bankruptcy, which means you will never get away from paying these loans back.  With the cost of education getting higher, your salary will need to be able to cover your payments.  Keep that in mind when signing those promissory notes.

5.      Stop paying your mortgage

Some people may think that not paying your mortgage will get you a mortgage modification.  This is not the case.  Skipping your payments can torch your credit and you will be stuck with penalties if the modification does not occur.  It’s better to be safe than sorry and while working on the modification with the lender, continue to make your payments if you can.

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Some people look at saving as a chore, where others take saving money on as a challenge.  With so many ways to save money,  why do we still overspend?  Saving can be a hassle.  Sometimes saving can be just as simple as looking for the less expensive product in the grocery aisle, however for those who take saving seriously it's a whole other ball game.

Extreme couponers turn saving into a lifestyle, they spend spare time clipping coupons and categorizing and make their shopping trips into a savings outing. Couponing can take lots of time and effort.  For those who would like to save some money quickly, there are websites like www.Coupons.com or www.Shortcuts.com where you simply pick what you plan on buying and either print that coupon or add it to your store card.

Many of us don't have time to research the best bang for your buck.  Websites like http://www.dailyfinance.com/savings-experiment/ offer savings tips on common household items you might want to consider before making your trip to the store.

You can also save without lifting a finger using HarMoney's bill payment service.  Are you tired of accumulating late fees for missed payments?  This can be eliminated by hiring a personal financial assistant to make those payments for you on time every month.  http://www.harmoneyllc.com/billpay.html

Everyone likes to save money, no doubt about it.  The main problem for most of us is lack of effort and time.  Hopefully, these tips will help you save an extra buck or two.

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HarMoney defies the idea of online bill pay, by offering individuals a personal financial assistant.

Every month millions of people log on to their banks website to pay each monthly bill on time all while making sure there is enough money left in their account for them to survive on.  There are many advantages to online bill paying such as saving time and paper, however there are several disadvantages as well.

Website issues can be a major downside in online bill payments.  Paying a bill online is impossible if you have no internet access or if the website is down.  Maintaining passwords and security can also lead to more stress with internet bill paying.

HarMoney's concept of a  personal financial assistant to offer individual a bill payment service will ensure that online bill paying is no longer necessary.  A personal bookkeeper can provide an individual with the best of both worlds.  They will save the time and effort many people put in monthly to pay their bills and maintaining passwords is no longer necessary. 

A personal financial assistant will ensure bills are paid monthly on time and all that is required from the clients is to ensure the funds are available in their account.  The scheduling and paying is all done by the assistant.  Many find that hiring a personal financial assistant ends up being a great decision. According to Khalia Jones C.P.A, "I have never used a bill pay service before HarMoney, and I was a little hesistant about the idea of someone else managing my finances.  I travel a lot and I was getting tired of keeping track of bills so I tried them.  Best decision ever."

A personal financial assistant may not be beneficial to everyone, but for those individuals who need something more comprehensive than online banking, it can be a life saver.

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Most of us use credit cards for convenience.  Buy what you want now and pay for it later.  There are downfalls to this convenience many new credit card users may not be aware of.  Here are 5 tips for 1st time credit card users.

1. Try not to carry a balance.

If you don't foresee being able to pay off the purchase fairly soon, think again about the purchase.  Credit cards make money from interest on your balances and you lose that money.

2. Pay more than the minimum

When you carry a balance, make large enough payments to pay off the debt timely.  The recommended minimum payment extends your payment time which in turn makes the credit cards more money in interest.

3. Do not close your accounts.

You may think the best way to get rid of your credit is by closing your card, however you are losing valuable credit history by doing so.  Keep the account open and use it periodically to keep it active.

4. Don't just use the card in order to build rewards.

The rewards may sound great, but it is just a way to entice you to spend more money.  Using the card for rewards and continuing to pay a minimum each month, eliminates the value of the reward.

5. Don't pay late or go over the limit

Not to mention fees, paying late or going over the limit can have a significant impact on your credit.  Try to avoid these pitfalls by hiring a company like HarMoney www.harmoneybillpay.com to make sure the bill is paid on time.

Bottom line

There are rules to credit and learning these rules early can eliminate seven years of ruined credit.  Be a responsible and savvy credit card user, if you choose to use them. 

This public service announcement brought to you by HarMoney: bookkeeping for the individual.

www.harmoneybillpay.com

contactus@harmoneybillpay.com

800-385-4531

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With food being a necessity, it would be great if it was free. Unfortunately it isn't, most of us show up to the market at least 2-3 times a month to spend hundreds on food to nourish our bodies. Food can be a substantial part of our monthly budget. It is a necessary expense that can add up very quickly.

Even though food is a necessity, you don't have to go broke purchasing it. There is a wide spectrum for the cost of food depending on eating out, the supermarkets you choose and the type of food you buy. According to the US Dept. of Agriculture, the average family of four spent $1244.30 on food in January, adhering to a liberal plan. On the other hand, a similar sized family following a thrifty plan spent only $629.10. That is a huge difference. There are several ways to achieve that thrifty plan and still meet your food needs.

1. Skip eating out.

Think about it, a family of 4 eating out once a week can easily run $400 a month. There goes your food budget.

2. Make a list.

Before heading out to the grocery store, make a shopping list. This prohibits impulse purchases that can kill your budget. Plan out what you will need for the week and stick to it.

3. Don't do shopping hungry.

It sounds silly but shopping hungry will cause you to make those impulse purchases that will hurt your budget.

4. Look for generics

Not all products are created the same, however supermarket brands can be just as good as the name brands we all know and love.

5. Buy in bulk

We're not suggesting being a hoarder, but if you see something on sale that you know you use frequently, buy more than a week's worth.

6. Use coupons

If you've ever watched the show "Extreme Couponers" you know coupons can save you hundreds of dollars. You don't have to be extreme but you can still save a buck or two.

7. Use your leftovers

Don't throw that leftover meatloaf in the trash, make use of it. Turn it into a meatloaf sandwich. Reinventing leftovers can save you money.

8. Pay attention to sales

A lot of us will walk right past the circular when entering the supermarket, not even giving it a glance. A different brand of paper towels may be on sale that week and save you on what you would normally spend.

9. Use store reward cards

Many chains now offer store cards that can give you discounts on your purchases just by swiping them.

10. Budget

Plan what you want to spend on food ahead of time and if you go over, put stuff back. Stick to your budget and you will see your food costs go down in no time.

HarMoney

www.harmoneybillpay.com

800-385-4531

contactus@harmoneybillpay.com

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There are many debt consolidation companies touting lower interest rates on cards and faster payoff times or debt consolidation loans offering lower monthly payments over a longer period of time.  Most consumer recognize debt consolidation as a way to payoff credit cards but what about other debts?  Debts like utilities, mortgages, and car payments may not benefit from debt consolidation. Also, if you do use this tactic to pay off the cards, you also need the willpower not to rack those cards up again. However, if your goal is to combine all of your payments into one lump sum monthly and include all your bills there is a solution, bill consolidation.

Debt consolidation loans or programs usually carry fees and penalties (for late payments) and can get you into more debt than you are already in.  A bill consolidation/bill pay program will combine all the debts you carry now, including mortgage, car payment and utilities into one monthly payment and make sure the bills are paid on time every month.  Rather than paying out 6-20 bills every month, the bill pay program gives you the option of making one or two monthly payments that will cover all of your bills.

Lots of people lack the time or the knowledge to take care of their personal finances successfully and you don't have to be rich or famous to outsource this responsibility.  It can be a scary thought, allowing a stranger to take care of your finances, but we allow doctors to take care of our health, babysitters to take care of our children, even accountants to take care of your taxes.  But when we come to finances, we tend to get cold feet.

A bill pay program can offer you a personalized solution to make you as comfortable as possible.  Your bills are paid according  to your pay schedule and you will receive a personal bookkeeper that will remain with you throughout the course of your program.  Rather than being locked into a commitment of 5-10 years to pay off your debts,  you can be at ease your debts are being paid on time, every time by a certified professional.

There are many options to finding a bill pay program.  Most professionals in this field are classified as daily money managers or certified personal finance counselors. (www.aadmm.org)  HarMoney's bill pay program (www.harmoneyllc.com/billpay) assigns your account to a personal bookkeeper who looks at your financial situation and can give you your best options for paying of debts fast and without paying those extra fees and penalties.  For more information, please visit www.harmoneyllc.com or call (800)-385-4531.

Have you attempted a debt consolidation loan or program?  How did it work for you?

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Our lives as adults revolve around boring things like going to work, paying bills, taking care of the family, and chores.  Remember when, we were debt-free, care free children?  When we knew we wanted McDonald's and didn't think twice about what it cost our parents? Or wanted that new jacket and couldn't understand why they didn't want to buy it.  As kids, most of us had no concept of personal finance and as we grow to be adults that can be a downfall.

Most of us don't have to deal with bills and credit until we hit college and by then if you don't know the basics you can end up in big trouble.  With April being Financial Literacy month, HarMoney is an advocate of financial education in the schools.  We may not be able to depend on our parents for this education because they may not know themselves.

Why not offer courses in debt management, credit counseling or even simple bill payments?  This is valuable information that you will need for the rest of your life unlike algebra or geometry.  In a survey conducted by the National Foundation for Credit Counseling and the Network Branded Prepaid Card Association, it was revealed there is a disturbing lack of basic financial skills, such as budgeting, saving, and money management.  These skills are not taught so therefore never learned.  Children graduate and turn into adults and have to figure things out for themselves.

According to the study, one-third of US adults (more than 77 million people) do not pay their bills on time.

Now in certain cases, we know better, but knowing better and doing better are two different things.  HarMoney recommends parents get involved and find out what their children are learning in school about finances and try to fill that gap.  Hopefully, generations to follow will pick up on the lack of knowledge and do something to make a change.

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Once you realize there is an issue with your parents and their finances the proper steps must be taken to organize the bills.  There are a numerous different ways that you can use to organize your parents bills.  A couple of methods that are proven to work extremely well are:

1.      You can have all of your parents bills forwarded directly to you:

·        This will eliminate the problem of them forgetting to pay.

2.      The Envelope System:  This system provides a simple way to create a budget for your parents, as well as manage their expenses.  The system can be implemented in just a few steps.

·        For more information, see our past blog post:  Maintaining a Budget

3.      Create a budget for your parents

·        Write down their income (social security, etc) vs. what they intend to spend on their monthly expenses.

Some families find it more beneficial to get outside professional help, and hire an outside bookkeeper, such as HarMoney, to manage their parents’ daily finances and maintain their privacy. Other families split up responsibilities among siblings or other relatives.

Families should take the time to research multiple options to find which works best for your particular situation.  "Being the caregiver for both your children and your parents can be the ultimate challenge," adds Mr. Simms, HarMoney’s Marketing Director.  "Knowing your limitations and when it may be time to seek other care for a parent or help from professionals, is extremely significant."  Mr. Simms adds, "Spreading yourself too thin is not always the best thing for your children, your parents or your marriage."

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