Are you swimming in debt? Is it harder now to pay your debt because of rising prices across the board? Are you looking for a way to make a little extra cash and start treading again? If so, read on.

We all could use a little extra money these days. Even if we are debt free (Yeah, right!) we may want to strengthen our security blanket. You’re probably saying, ‘OK, Captain Obvious, I already know that. How can I make more money when I am already working long hours to build my career and trying to balance a personal/family life?’

There are two roads to take: the easy or the rough road. The rough one involves taking a skill that you have and marketing it to others for cash. For example, web design, mowing lawns, painting, etc. The rough part of this road is that agreeing to paint a house or design a web page requires a huge time commitment. In addition to the burden of time, there is a large financial responsibility to buy the supplies and equipment. This solution doesn’t stay within the parameters of balance between work and family.

Now, what about the easy road? There are companies out there that allow you to generate income without high start-up costs or demanding time constraints. Multi-level (aka network) marketing companies are the solution. Don’t confuse them with the “pyramid schemes” of the past. Most of these companies actually provide great products, training and mentorship.

My favorite is Advocare, a health supplement company. I began using these products for lifting and loved them but never cared about the business aspect, that was until a friend asked me how she could make some extra cash without giving up everything. Coincidentally, I was ordering some more products immediately after reading her email and. . . Eureka! I told her about the company and that I never did the business but have read great things. She gave it a try and is now making a few hundred dollars extra each month. The best part is there are products for every health need.

Choose the easy road.

Three decades ago, a credit card was used only to put off paying your debts for a short while. You could not use your card at department stores, grocery stores, and the doctor’s office. And you didn’t get a lot of rewards (from points) for using your credit card.

But nowadays, the trend has changed because the average American has four or five credit cards at his disposal. Hundreds of reward schemes compete for your money, and you can use the card to buy anything from fruits to appliances. So, what is the future of credit card usage? Industry experts foresee the following trends in the foreseeable future:

Interest Rates will Increase

A significant number of credit cards have variable rates, and these rates are on the rise. In the next few years, credit card issuers will pass the rate hikes from the Federal Reserve. Regulators also have forced card issuers to make higher minimum payment structures. In the last several years, the minimum payment was so low that it might take years before the debt is fully paid if the borrower only pays the required amount.

Low Rates Might Continue But with a Catch

Higher interest rates might make low-rate offers unattractive for banks because of lower revenue, but you can expect that banks will keep this up because of competition. Credit card issuers will definitely become more creative in generating profit. For example, the limit on balance transfer fees for the lower-rate product lines was removed. So, even if the $2.50 balance transfer doesn’t seem like much, it can add up when you transfer $10,000 or more.

Good Deals will be Created and Stopped

Credit card issuers strive to create spectacular offers that will grab the attention of consumers. However, they will be appalled when the consumers exploit these offers in ways they never thought possible. Case to point, think of MBNA’s gas rebate offer; it offers 5% cash rebate for gas purchases. The gas rebate card was actually a general purpose card, but the consumers didn’t use the card for anything other than gas. As you can expect, the offer has since been trimmed.

We are obsessed with having ‘things.’ Everyone wants to be rich. We want lots of money today. What we fail to realize is it is not easy and therefore settle for just appearing to have money.

We see the celebrities on TV or in magazines wearing certain clothes and driving exotic cars. Naturally, we associate having those things with having money. Having money means we are somebody important, at least in our minds. Then we set out to make lots of cash.

Once we realize that acquiring wealth does not happen overnight, we become impatient. Thank God for credit cards! “Who needs to work when we have this free money?” At least it is free until the bills roll in each month. Now we accept the fact that in order to ‘live’ we always will be in debt.

To summarize this: we want to be rich. We try and see that it is difficult. We buy the same things rich people do but on credit. We bury ourselves in debt trying to look rich.

The ‘fake it till you make it,’ strategy does not work well when it comes to building bank accounts. In fact, just the opposite occurs, you ‘fake it till you bankrupt it.’ This explains why more people under the age of twenty-five are filing bankruptcy each year.

There is a solution. In my book, Money for Tomorrow, I talk about building a budget and planning for the future. The truth is that we cannot live our lives for today. We have to grow our finances into a cash machine. Once we do, we actually can look like we have money AND really have it.

There are three main types of investment companies, including open-end funds, closed-end funds, and the Unit Investment Trust (UIT). A mutual fund is legally termed as an “open-end” company. In the most basic sense, a mutual fund company pools money from different investors, and it invests the money in bonds, stocks, short-term money markets, and other types of securities. The combined holdings in the mutual fund are known as the portfolio. Each investor represents an interest in this portfolio, and he or she can derive appropriate income from the funds it generates.

Some of the distinguishing features of mutual fund include:

· Investors buy shares from the fund itself rather than from other investors in the secondary market (NASDAQ Stock Market, New York Stock Exchange, etc.)

· The amount that the investor pays for the fund shares is the actual per share net value (NAV) plus the shareholder fees, which the fund company may charge at the time of purchase.

· Shares can be “redeemable”. This means that investors can sell their mutual fund shares back to the fund or to the fund’s broker.

· Generally, mutual funds create new shares to accommodate new aspiring investors. In short, they sell shares on a continual basis, except in the case when the funds become too large.

Mutual fund investment portfolios are managed by entities referred to as “investment advisers”. These investment advisers are registered with the Securities and Exchange Commission.

It is important to tackle hedge funds as well. Hedge funds are usually mistaken as mutual funds, but it is important to remember that hedge funds are not subject to legal regulations that pertain to mutual funds. Hedge funds are unregistered and private investment pools that are usually limited to wealthy and sophisticated investors.

When Saddam Hussein was ousted in 2003, there were a lot of speculations about the Iraqi currency. A lot of political, social, and economic changes have occurred since then, but what will this mean to an investor like you? The new Iraqi monetary system encourages foreign investments; in fact, the central bank is giving out licenses so foreign businessmen can open businesses legally. Of course, what most investors are counting on is the potential of Iraqi oil. Iraq is one of the biggest oil producers in the world, second only to Saudi Arabia.

These characteristics make the Iraqi dinar seem like an attractive investment on the surface. However, it is important to remember that whenever a country undergoes government changes, the new government can repudiate the old money; your investment can become essentially worthless. Another risk is that the new Iraqi government has the capability to inflate the dinar out of circulation. Finally, there is no guarantee that you will recover your investments on the dinar, even if the country does stabilize.

Investing in the Iraqi dinar seems like a good investment opportunity, but in actuality, purchasing this currency right now can be likened to buying a lottery ticket. Yes, there is a potential that the Iraqi government will stabilize eventually and the economy might improve. But as things stand right now, the risks are simply too high.

So, is buying Iraqi dinars a good investment option? Well, if you don’t know what to do with a bunch of money, there is little harm in buying a few Iraqi dinars. Right now, around 824 American dollars will buy you about a million’s worth of dinars. But if you don’t feel like buying a lottery ticket right now, better not buy Iraqi dinars as well.

Sometimes, the best way to stop a snowballing debt problem is to go back to its cause. If you have an uncontrollable credit card debt, then take a step back, and look into your previous mistakes. Knowing what your weaknesses are can help you prevent debt disasters in the future. Most of the time, people who are mired in debt commit the same financial mistakes that can be prevented by behavioral changes and self-discipline. Learn from your mistakes and start getting rid of your debts.

Mistake #1: Mishandling Balance Transfers

Transferring your balance from high-interest credit cards to those with lower interest rates is effective in theory. But it’s a good idea that can go wrong. Transferring the balance to a new card that has an introductory rate and waived annual fees can help you save money, but you need to focus on paying off your debts before the introductory offering expires. If not, you can wind up with an even bigger debt than before.

Mistake #2: Not Looking into Your Credit Report

Consumers assume that there is no need to look into their credit reports since they can’t do anything to change them anyway. This is a huge mistake because the report can contain errors and inaccuracies that can improve your credit rating. When these inaccuracies are detected, you will be able to enjoy better interest rates and even bag the job you want.

Mistake #3: Not Alerting Creditors of Your Financial Difficulties

People who are in debt don’t want to face their creditors. But don’t wait until the problem spirals out of control before doing something about it. Realize that the best time to negotiate with them is before the debt situations start to spiral downhill. The creditors might be willing to extend your deadline or temporarily lower the interest rate.

We all have heard it is smart to invest in the stock market. The problem is so few of us actually know much about it. That is why I decided to write this to tell you how to spend the extra $100 you wrestled from the couch cushions this month.

First off, I want to prove my opening statement. From the early 1900’s to today the market has averaged a 13% annual increase. Similar statistics show the dollar bill has lost 95% of its spending power. To put that into different terms: In 1919 one share of Coca-Cola cost $40. If you decided to take $40 and bury it in the yard, the spending power of that cash would be $2. Instead if you took that cash and bought one share of Coca-Cola, today it would be worth over $5 million, if you reinvested the dividends. Hmmm…tough decision.

With that out of the way, onto the application. Some people buy shares of certain stocks because their online broker requires them to. Example: you want to invest in Amazon and it is trading at $74.15 a share. You have $100 to invest. Your company will only allow you to buy a whole share costing $74.15 plus a $9.99 fee. That leaves you with $15.86 left over doing nothing for you. In time you will build up enough extra cash this way to buy another whole stock…in time.

The problem with this is that you are not investing to your full potential when you buy whole shares of stock. In an ideal world you could buy “fractional” stocks. Example: that same $100 would buy you 1.213 shares of Amazon. That extra .213 of a share is working for you and not rotting away in an account somewhere. Obviously, this is the best way.

Sharebuilder.com is the only online trading company I know of that will allow you to buy fractional stocks. On top of that, if you set up an automatic investing plan, trades are only $4 opposed to the standard $9.99! Finally, a company that cares about us.

Stop reading this right now. Go and set up an account. Invest a dollar amount, NOT a set number of whole shares each month. GO!!

Lately, you’ve had some problems in getting your bills paid on time, and you now are wondering what you can do to improve your credit score. Well, you’ve certainly got plenty of company because it is estimated that around 30 million Americans suffer from credit problems that are bad enough to make applications for credit cards and other types of loans difficult to get approved.

On the other hand, your credit score might look alright but there are some fast and easy tips that can  make it look a lot better. Below are some effective credit repair tips:

1. Pay off your credit card debts – paying off your installment loans, like student loans, mortgages, and auto loans can improve your score. However, you will enjoy an even more significant improvement when you pay off revolving loans such as credit cards. Getting the outstanding balance to at least 30% below the credit limit is recommended.

2. Use credit cards lightly – high balances can hurt your credit score even if you do manage to pay your bills in full every month. The credit information that usually is reported to the credit bureaus is the balance on the last statement.

3. Check the limits – your score may look depressed if the lender “reports” a lower limit than what you actually have. For example, Capital One and American Express don’t report their client’s credit limit so the bureaus assume that your highest balance is your credit limit. The downside to this is that if you charge the same amount on your card every month, it will appear that you always are maxing out your credit.

4. Ask for some goodwill – if you have been a relatively good client, the lender might agree to erase some late payments from your history. You need to put this request in writing before “goodwill adjustment” can be considered. A long-term solution to this is asking them to “re-age” your account, especially if your credit history is badly damaged.

5. Dispute any errors – your score is calculated based on the information provided in the credit report. It may contain some errors that damage your score; if you see any inaccuracies with regards to charge-offs, late payments, “unpaid accounts” that were included in your bankruptcy, or any other negative items, be sure to report it to the credit bureau. You just might be able to get a significantly higher credit score because of this.

On Tuesday, May 20th, the United States Court of Appeals for the District of Columbia Circuit determined that the paper currency currently issued by the US Treasury Department discriminates against the blind. As all bills are the same size and have the same feel, it is impossible for a person without vision to determine the value of a bill.

Additionally, the Treasury Department did not prove it was too burdensome for them to make changes to the bills. Therefore, the Treasury Department will need to decide what it will do next. (Hopefully, the whole decision making process won’t cost more than the actual change.)

In the meanwhile, the editors at Random Stock pondered options for new paper currency. Perhaps bills could have their denominations printed in Braille? Maybe bills could be sized differently based on value? On a more frivolous note, perhaps scratch and sniff money? How would you redesign the paper currency?

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With the economy going…where it’s going, it’s time to start getting serious about protecting your credit. If you think obtaining a mortgage, buying a car, or getting a new credit card is a challenge now, imagine how hard it will become in the next few years! The only way to make sure that your financial future is secure is to do everything you can to protect your credit rating (or improve it).

Make all of your credit card/loan payments on time. This should be common sense, but you would be surprised how many people decide to let their payments slide a month or two when things get hard. If you have been doing this, stop! Even if you only pay the minimum amount due, make sure those bills get paid.

Monitor your credit. You can usually sign up for credit monitoring for a small monthly fee. Monitoring your credit is the best way to make sure that your payments are recorded correctly and that false information is corrected. You would be surprised how often errors are reported to the credit reporting agencies!

Start paying off your debt. Many financial experts advocate paying the most money to the account that has the highest interest rate. This makes sense from a math perspective. From a personal standpoint, I think that paying off the smallest debts first is better. The “paid in full” entry on your credit report helps to raise your score. It also gives you a sense of accomplishment, which will keep you on track while you work to pay off your larger debts.

Don’t take on any new debt unless you absolutely need. The goal is to prove that you are financially responsible—adding to your existing debt has the opposite effect.

Protecting your credit isn’t hard, it just takes dedication!