Everyone knows that the surest way to survive a bad economy is to have money put away to help you weather the storm. People that are in the system looking to obtain a Green Card have to keep mind that they need to save as well as budget the expenses of becoming legal via the US immigration system. It costs a large sum of money to become a citizen of this country. Not only initially but in the Green Card Renewal process as well.
Too often folks get caught up in the things that are important to them today and forget tat they need to also plan for tomorrow. That means that it is all too easy to funnel all of your funds into the Green Card struggle and living daily life and forget to nest egg some funds for a rainy day. The US immigration department doe not care if you save they are concerned with the money that you need to get to them for the process and the Green Card Renewal and are not the least bit concerned with what your personal financial status is five or ten years down the road.
Habits are somewhat hard to break and if you get in the initial habit of spending all of your money as you get it, then that is how you will likely continue. You spend so much time, money and effort going through the US immigration system to obtain your Green Card or to facilitate your Green Card Renewal that it is often easy for that spending habit to become a habit. You may find yourself spending on thing that you want rather than things that are a need and before you know it your paycheck has been spent and you are short of cash and have nothing saved and if an emergency should arise you will have nothing to cushion you through that period of crisis.
For this reason people need to start off by setting a budget that includes adding savings at the top of the list and then the bills and other expenses next. It is what is known as paying yourself first and it is the only effective way to save money. As we have seen it is overly easy to pay the bills first because they often weigh higher on the priority list. Getting a Green Card, for example, is often the most important thing in a person’s mind. Finding the money to get through the US immigration is important and your Green Card Renewal is also a priority.
However, if you allocate a little more time for those things to happen you can spread the cash out and actually obtain those goals as well as being able to save money to enrich your life. You can certainly appease the US immigration people, obtain your Green Card to facilitate a Green Card Renewal and still save money. It is simply a matter of applying yourself and facilitating a plan that is good on both the front and the back end.
Many people don’t pay much attention to their bank accounts until they are in trouble with fees and going under. There is a lot of speculation about whether your money is safe in the bank today and there are many factors that answer this question.
Today the banks are in big trouble and in the red because of all of the foreclosed homes and repossessions. People are practicing the mattress stuffing practices because they don’t trust their money is safe. The truth is that taking your money out of the bank is the safest thing you can do.
Banks are making up for loss of money by charging outrageous fees. These fees may come across as interchange charges or other fees. They are not recognizable and many people don’t even notice they are hitting their accounts. The problem is that when a bank takes $20 or more a month in subtle fees that you don’t notice when you balance your account down to the nitty gritty you will go under and then face larger fees for bouncing a check or being delinquent.
The only way for a bank to absorb the costs of their massive debts is by charging additional fees. They are not making money by interest of you keeping your money in your account because you don’t have any to put in there. Just like millions of other Americans that are counting their pennies the banks are suffering. You cannot keep your money in the bank today because they will try and absorb their debt by subtly taking what you have in small amounts. This is money you could spend on candles, perfume and cologne if you wanted to.
Many people who aren’t quite sure about the economy that are coming to the states from the Green card lottery often open accounts and learn the hard way. Today your money is safest with you at home. There is no interest you are going to earn with the banks today. Also, if you use the ATMs the fees are even higher. Many businesses are raising the cost to use a debit card or a credit card in their store to absorb their debts. The fees are too much for Americans to handle when they are already suffering so much.
The banking industry and the medical industry are the two that run side by side in running the nation. They employ the most people and they make the most money off of the Americans. Although, they shouldn’t be considered to be profit making entities they are making a ton of money. They are considered government entities to the public but where people suffer the most in credit, medical bills, no medical insurance, and more.
You are not safe to put your money in the bank today. This won’t change with the bailout even when the banks receive their billions of dollars. The fees have increased and you will still continue to get hit with high charges that are explainable to you in a foreign language and makes no sense. You are better off keeping your money in a safe or lockbox at home. You won’t pay any fees to keep it there, you won’t have to pay fees when you need money, and you know that it will be properly subtracted when you spend it.
Article source: http://www.bankmaterial.com/blog/is-your-money-safe-in-the-bank/
The bailout for over 600 billion dollars has many people excited while others have realized it won’t do anything for their circumstances at all. There are many people that it will help and many people it won’t. These include people currently working, banks, people undergoing foreclosure, and more.
Many uneducated Americans think that they are going to be saved from the government bailout. Many people applying through USCIS for citizenship may want to reconsider their options. The large corporations are benefiting but the small towns that are now desolate due to shut downs and barely capable of feeding their families are going to only get deeper in debt. The gap between the rich and the poor will now be so large that problems are about to start reproducing in masses.
The government bailout is helping large corporations that have asked for money to keep afloat. Most of these businesses have already laid off half of their staff. They aren’t going to be hiring anyone back who was previously laid off but keeping those employed that made it through the cuts. If you are currently unemployed you will have the benefit of getting a few more dollars on your unemployment but that is it. You will receive a temporary benefit of maybe a couple hundred dollars.
People who are in the process of foreclosing on their homes are now going to have the government come in and pay them up on the months they are behind. This will allow them to still own their home, get caught up on bills and even take San Diego cruises if they want to. The people who have already foreclosed and lost your homes will receive no benefit. The people who have suffered the worst by losing their homes due to foreclosure will get nothing at all and sit with bad credit and be in a bad situation for more than 10 years.
The banks are receiving a bailout because of all of the foreclosed homes and repossessions of items that people couldn’t afford to purchase. People have failed to pay for their credit card purchases of things like reed diffusers and others. The banks will benefit by giving more money to people with good credit such as kids right out of high school who are not responsible enough to pay on credit and the rich people who don’t need credit. Those 100 million Americans who foreclosed on their homes and have terrible credit now because they lost their jobs, drained their retirement accounts, and can barely survive will most likely never be entitled to credit again. You will not benefit from the bail out in any way.
If you think the government bailout is going to help you in any way and you are in a bad situation because you were one of the people who foreclosed on your home already or had to give back your boat or car you couldn’t afford, think again. You are not a part of the deal. The Americans who are receiving help are those who are currently working won’t have to pay as many taxes, those that are currently working will get to keep their jobs, and those that haven’t quite foreclosed will get to keep their homes. There is nothing in it for you.
Article source: http://www.bankmaterial.com/blog/who-will-the-bailout-help/