Posts Tagged ‘personal finances’

Personal Loans, is it alright?

Sunday, December 25th, 2011

Me and my husband and little baby girl are moving into a rental house long term (2+ years) until we relocate for my husband to attend Georgia Tech. We really need some help getting the initial process of furnishing our home with its’ utilities and furnishings since this will be the largest move we have made and only 1 out of 3. We were considering a small personal loan of about 1000 dollars to give us a boost, but the issue is that we, being young, do not have as much credit as we might like. We have some, but it isn’t amazing (me at 629 and him probably a bit higher, like 650-670, not sure about him though.) His job does not compensate him largely, he makes 8.50 an hour and works full time. He is the only one with a credit card, which is secured. Due to our lack of credit history and personal finances, is it possible that we could qualify for a small personal loan? What are some suggested loan agencies to look at? What are some to beware of? Will being denied affect our credit score adversely? Any information that you can give us to help is greatly appreciated. Thanks.
My husband made a 28 on his act, graduated in the top of his class, and aspires to be an Aerospace engineer. While he has not been accepted yet, there is no doubt in my mind that he wouldn’t have a chance. If he doesn’t get accepted there, then something is wrong, lol. He’s in a community college with me right now (more affordable), but he never ceases to impress his professors and doesn’t make grades less than a high B EVER :) That’s just where he wants to go and I said it because it is our plan.

If I loaned $1000 to a friend for 0% interest and then he lent back the same $1K for 3% interest how dumb am I?

Friday, August 5th, 2011

I am just asking because this is what our Federal Government has been doing for the past year. The Federal Reserve has had new money printed up and it has lent it to the banks at the low low price of ZERO interest. Now the Banks turn around and buy the US national Debt bonds which pay 3% interest with the very same money we lent them at NO interest.

Back to my analogy this would be as if I handed my 00 to my friend with my right hand and he gave me back my 00 in my left hand thus I need to pay interest.

I understand this is "monetizing the debt" we print the money but we can’t just stick it in the budget as "found money" because that would devalue our dollar quickly. So what we do is "launder" the money through the banks and pay them a 3% premium for their trouble.

My questions:

HOW DUMB WOULD I BE TO DO WITH MY PERSONAL FINANCES WHAT THE FEDERAL GOVERNMENT IS DOING?

ARE YOU READY FOR THE COMING DEVALUATION OF THE DOLLAR?



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