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Trusted Answers From Licensed Business Professionals
BUDGETING

Buying A Lottery Ticket Is Like Lighting Money on Fire…Maybe Not

By The BIDaWIZ Team on August 4th, 2010 at 5:48 pm
wasted lottery money on fire

There is a convenience store next to our office in NYC that sells lottery tickets like hot cakes. Anyway, the other day we walked in to get a snack & while waiting on line, there was another customer requesting about $20 worth of lottery tickets. During the transaction, the clerk at the cash register commented, “same as last week?” This really got us thinking. The customer probably spends at least $1100 a year ($20 times 52 weeks) on lottery tickets. That’s crazy. Let’s analyze why. Read More.

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MORTGAGES

Getting out of a Mortgage with your Now Ex

By The BIDaWIZ Team on July 30th, 2010 at 6:22 pm
remove name from mortgage

At this point, you probably realize that the yelling & screaming at your now ex girlfriend or boyfriend didn’t get you very far when it comes to handling your mortgage. Now, you want to get your name removed from the mortgage. But, unfortunately there is only one option to remove your name from the mortgage & the deed, other than foreclosure & bankruptcy. So what is it? Read More.

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NEGOTIATION

Negotiating Salary With Companies Focused on the Economy

By The BIDaWIZ Team on July 28th, 2010 at 4:09 pm

loan for hire
Believe it or not the current unemployment rate of 7.9% is also impacting new hires.  Why?  Many large companies are using the uncertain economic outlook and particularly the unemployment rate as a way to undercut salary levels for new hires.  Some of it may be justified, but in most cases, the company is trying to take advantage of the "recession," which supposedly ended.  So what should you do as a potential new hire?  It starts with strategic salary negotiation. .
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BANKRUPTCY QUESTIONS

Marrying Someone that Just Filed For Bankruptcy?

By The BIDaWIZ Team on July 14th, 2010 at 7:40 pm

bankrupt
We understand that you are in a painful place just having to think about this question. But, it is better to address the matter than to hold off only to find out that you can't obtain a mortgage, credit card or any other financial instrument that requires a review of your credit history. .
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INSURANCE

The Truth About Credit Life Insurance

By The BIDaWIZ Team on June 22nd, 2010 at 8:00 am
To avoid any confusion, we are not talking about credit card insurance but rather credit life insurance. Still, you are probably thinking what is credit life insurance? In a nutshell, it is a type of insurance often bought with cars and homes in which the insured pays a premium & in return the loan is repaid in full in the event of death. This means that if you purchase a home with a $500,000 mortgage & enroll in credit life insurance then you will be paying premiums in case you pass away to ensure the debt is fully repaid. At first glance, it may seem like a nice option, but in reality it is very costly. Moreover, in almost all circumstances a term life insurance policy is a better option than credit life insurance. .
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CREDIT CARDS

Unusual Credit Card Fees & Important Credit Tips

By The BIDaWIZ Team on June 17th, 2010 at 8:00 am

Have you ever gone through your credit card statement & noticed some unusual fees? If so, you probably then called your credit card issuer & they explained that you signed up for such and such service which comes with a fee. Of course, by “signing up,” they mean you applied for the credit card & there was an add-on service included in the fine print. Now you’re stuck paying the fee. Anyway, so what exactly are these fees? Read More.

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BUDGETING

Financial Areas to Review with your Spouse

By The BIDaWIZ Team on April 7th, 2010 at 8:00 am
Evaluating your finances with your spouse really needs to happen every 3 months if not more frequently. Many couples wait until March or April when the have to file their taxes which at that point is usually too late since the expenses are already paid and the income is already earned. In case you're wondering what to review, we have provided a list of 5 focus areas to discuss with your spouse. .
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BUDGETING, INVESTING

New Baby? You Better Be Updating Your Financial Plan

By The BIDaWIZ Team on January 19th, 2010 at 8:00 am

Face it, things have changed. A new baby means new responsibilities which includes setting up a financial plan for the child. Too many new parents are so focused on the present that they fail to setup a financial plan for their child’s future. Big Mistake! Here’s what you can do to start fixing this problem. Read More.

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CREDIT CARDS, MORTGAGES

Selecting the Right Debt to Payoff

By The BIDaWIZ Team on August 27th, 2009 at 8:00 am

We frequently hear that it is wise to pay off debt as soon as possible. Unfortunately, sometimes we act on that statement before asking ourselves these important questions. Read More.

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BUDGETING

Unemployment Benefits Running Low? You Still Have Options.

By The BIDaWIZ Team on August 21st, 2009 at 8:00 am

If you have already exhausted the 26 weeks of regular benefits that each state provides for the unemployed, there is still the 20-33 weeks of additional federal funded emergency benefits and in some cases another 13 weeks to 20 weeks of extended benefits. Read More.

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