LendingTree.com Suggests Tips for Controlling Debt

September 21st, 2010 by Bank Loan | No Comments | Filed in Loans

Beth is a well known vocal artist in the New England area. Not only is she extremely talented in her music, she is also highly sought after print model. Beth have a peculiar issue, she is very comfortable in front a large group of audience, but find herself feeling timid in one on one situation. This is particularly problematic for a professional model, as she need to attend multiple auditions during a day. She asked Bernie to help her feel more self assured during interviews and auditions Publisher: Cara Institute of Advanced Hypnosis www.hypnotherapy.org Original Broadcast: CCTV Channel 9

Charlotte, NC (PRWEB) October 27, 2007

Debt often has a negative connotation in today’s society, but did you know there was such a thing as good debt? There are times when debt makes sense. Effectively managing your credit doesn’t mean eliminating debt completely; it simply means you must manage your good debt and avoid any bad debt.

Good debt helps you achieve a goal, or leaves you with a sound financial asset. Things like mortgages, which allow homeowners to build equity; home equity loans, which allow homeowners access to capital for things like home improvements that will increase the home’s value; and student loans, which foster professional advancement and, usually, higher salaries, are all examples of good debt.

Bad debt is debt that you don’t fully understand or unnecessary debt that you use to pay for living beyond your means. Examples of bad debt consumers should avoid include carrying too much credit card debt. The longer it takes you to pay off a credit card loan, the more interest you’ll pay. Credit card debt becomes a vicious cycle of minimum monthly payments and spiraling interest payments so consumers should avoid it as best they can. Zero money down loans are also a form of bad debt. While the phrasing sounds tempting, interest rates skyrocket on these loans if you’re unable to pay them back in the short amount of time allotted.

As you learn the skills of smart borrowing, you may be surprised at how much more confident you will become at managing your debt and choosing the best sources of credit for you, and how passionate you may become in passing on this newfound knowledge to friends and family. Empowerment tends to energize people.

For more tips on managing your debt, please visit the LendingTree Smart Borrower Center.

About LendingTree, LLC:

LendingTree, LLC is the nation’s number one online lending exchange, providing a marketplace that connects consumers with multiple lenders that compete for their business. Since inception, LendingTree has facilitated more than 20 million loan requests and 2 billion in closed loan transactions. LendingTree provides access to mortgages and refinance loans, home equity loans/lines of credit, auto loans, personal loans, credit cards and high-yield savings accounts via Lendingtree.com and 800-555-TREE.

Launched in 1998 with headquarters in Charlotte, North Carolina, LendingTree, LLC also owns and operates LendingTree Loans sm, LendingTree Settlement Services, LLC, GetSmart®, and HomeLoanCenter.com. LendingTree, LLC is an operating company of IAC.

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LendingTree.com Shows How a REALTOR? Can Save You Money

September 20th, 2010 by Bank Loan | No Comments | Filed in Loans

Charlotte, NC (PRWEB) August 30, 2007

Navigating today’s housing market may require the help of an experienced professional. Check out these helpful tips on using a REALTOR® brought to you by LendingTree.com.

It’s a common misperception that the easiest way to save money during a home sale is to cut out the REALTOR® and their 5-6 percent commission. Here are the ways using a REALTOR® can in fact save you time and money.

1. REALTORS® and home buying – As a homebuyer, you are spared the expense of using a REALTOR® to represent you. The commission is paid by the seller. Benefits abound: The REALTOR® takes your preferences for neighborhood, size, amenities and features and filters all the homes on the market to your specifications, and uses their expertise in the market to advise you on the value of each home. When you are ready to make a bid, the REALTOR® will use their expertise to advise you on an appropriate offer.

2. REALTORS® and selling a home – When the market is hot and homes are practically selling themselves, is it really worth the REALTOR’S® five-figure commission? In most cases, yes. The biggest benefit that commission buys you is distribution and advertising for your home. The Multiple Listing Service (MLS) is a proprietary electronic database of every property listed with a REALTOR®. Prospective buyers and other REALTORS® use the MLS to search for properties for themselves and their clients. Most sellers who list their house as for-sale-by-owner cannot list their home on the MLS; the burden of advertising falls squarely on the shoulders of the seller, including pictures, signage and other promotional materials. In addition, REALTORS® have easy access to market data – how many properties in the neighborhood sold recently, for how much, and how long they took to sell: all useful information for deciding how much to list your home for.

3. The value of time and peace of mind – Selling a home requires a significant time investment. Not only do you need to prepare your home for sale – minor repairs, cosmetic improvements, a deep cleaning – but someone needs to accompany any prospective buyers when they come to walk through. It can be disconcerting to have strangers casting a critical eye on the property you called home. REALTORS® often recommend that the homeowner leave the house when buyers walk through. A lockbox is placed on the door, and the buyer’s agent calls your REALTOR® for the code, and accompanies the prospective buyer.

It’s in a REALTOR’S® best interest to make the process go as smoothly as possible. If any issues crop up, with the appraisal, the mortgage company or the closing attorney, your REALTOR® should have an intimate knowledge of the process – useful for handling any unexpected snags.

4. REALTORS® are professionals -As with other professionals, like financial advisors or healthcare professionals, ultimately you – as either a home buyer or seller – are responsible for your decisions. Working with a REALTOR® can save you time, money and stress. But, it’s a partnership – don’t surrender your good judgment just because you are working with someone with a license.

For more information about buying a selling a home and using a REALTOR® in today’s market, visit the LendingTree Smart Borrower Center.

About LendingTree, LLC

LendingTree, LLC is the nation’s number one online lending exchange, providing a marketplace that connects consumers with multiple lenders that compete for their business. Since inception, LendingTree has facilitated more than 20 million loan requests and 2 billion in closed loan transactions. LendingTree provides access to mortgages and refinance loans, home equity loans/lines of credit, auto loans, personal loans, credit cards and high-yield savings accounts via www.lendingtree.com and 800-555-TREE.

Launched in 1998 with headquarters in Charlotte, North Carolina, LendingTree, LLC also owns and operates LendingTree Loans sm, LendingTree Settlement Services, LLC, GetSmart®, and HomeLoanCenter.com. LendingTree, LLC is an operating company of IAC.

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LendingTree.com Lists the Top Tax Mistakes to Avoid

September 20th, 2010 by Bank Loan | No Comments | Filed in Loans

Charlotte, NC (PRWEB) August 16, 2007

Since you only pay taxes once a year, it can be easy to forget the tax implications of certain financial decisions. Here are the most common tax mistakes and how to avoid them. Remember, tax rules depend on your income and other variables, so be sure and speak with an accountant or financial advisor.

1. Ignoring your company’s 401(k) – Tax advantages abound in this retirement plan. For one thing, because contributions are tax-deferred, you’ll be paying less income tax in the years you earn. Often, your employer will match your contribution. Additionally, you don’t have to pay tax on contributions until you withdraw it, which will hopefully be in retirement when you’re likely to be in a lower tax bracket.

2. Withdrawing your 401(k) early – It’s tempting, that big chunk of cash sitting out there. Resist the temptation and look at other options for paying for large expenses like tuition or home improvement. In addition to losing future earnings, you’ll pay tax on your 401(k) distribution as if it were regular income. If you are under 59 years old, your withdrawal may be subject to a penalty.

3. Overpaying on dividends and capital gains – When reporting profits from the sale of stocks and mutual funds to the IRS, the basic calculation is the difference between the amount you paid for the stock and the amount you sold it for. But be aware that if any of your profits came from reinvested dividends or capital gains distributions, the stock or mutual fund has already paid taxes on your behalf.

4. Selling investments too soon – Long-term capital gains carry a lower tax rate than regular income. In order to be considered “long-term” however, an investment must be held for at least one year.

5. Forgetting your charity – You can deduct any donation of cash, appliances, household goods or clothes. In addition, any transportation expenses – tolls, parking, gas – you incur when volunteering for registered charities.

6. Not optimizing your medical expenses – Once your medical expenses reach 7.5 percent of your gross income, you can deduct them. Consider having any elective procedures – orthodontia, laser vision correction – in the same year as other medical expenses. In addition, any uninsured medical expenses are deductible, as well as transportation to and from treatments.

7. Omitting tax credits and deductions – Don’t forget to itemize your deductions like retirement contributions, tuition, dependent care expenses (including alimony) and interest on your student loans.

Tax deductions and expenses rely entirely on individual circumstances, so be sure to consult with your tax advisor or accountant.

About LendingTree, LLC

LendingTree, LLC is the nation’s number one online lending exchange, providing a marketplace that connects consumers with multiple lenders that compete for their business. Since inception, LendingTree has facilitated more than 20 million loan requests and 2 billion in closed loan transactions. LendingTree provides access to mortgages and refinance loans, home equity loans/lines of credit, auto loans, personal loans, credit cards and high-yield savings accounts via www.lendingtree.com and 800-555-TREE.

Launched in 1998 with headquarters in Charlotte, North Carolina, LendingTree, LLC also owns and operates LendingTree Loans sm, LendingTree Settlement Services, LLC, GetSmart®, and HomeLoanCenter.com. LendingTree, LLC is an operating company of IAC.

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LendingTree.com Provides Tips for Saving Money When You Shop

September 20th, 2010 by Bank Loan | No Comments | Filed in Loans

Charlotte, NC (PRWEB) August 3, 2007

Ever know someone who always seemed to be getting a bargain? LendingTree.com provides the following tips on how to save money when you spend it so you can be the shopper you’ve always envied.

Create a budget – The first step in any savings plan: create a budget for your household spending. A simple way is as a percentage of your income. After big monthly payments like housing and your car, how much of your income will you set aside for clothing and household goods? Another method, especially if you use online banking, is to track your debit and credit card information to a spreadsheet and tally up how much you’ve spent over the past three months.

Make a list – Keep an updated list of household goods and clothing items you need. When you head out to the mall, bring it with you – it will remind you what you’ve come for.

Think before you buy – If you are prone to impulse shopping, come up with strategies to avoid it. For instance, don’t carry your credit cards with you and carry only the cash you may need in any given day.

Shop cheap – Know where the closest outlet mall is and shop when the next season’s clothes are hitting the retail stores. Brands use factory outlets to get rid of overstock at heavy discounts. Always check the sales racks for even deeper discounts.

Sales, coupons and promotions, oh my – Absolutely take advantage of any special offers, but beware of spending just to get a discount: make sure it’s an item you need and will use.

Do your homework – Before you fork over your hard earned cash for high dollar household items like appliances or furniture, be sure to comparison shop for the best deal. Comparison shopping can be the best way to find a great deal.

Ask for the discount – Commissioned sales people often have the authority to drop the price in order to make a sale, especially for big ticket items. The worst they can do is say no.

Know the return policies – A full-refund policy is better than a store credit. Sometimes stores have both – full refund for returns within a short time, and store credit for longer returns. Keep tags on your clothes and sales receipts until you wear them the first time.

Avoid medicinal shopping – You know who you are – shopping as a cure (or at least a respite) from stress, heartbreak or disappointment. If this is a behavior you are prone to, at least set aside a budget for it. You can call it your ‘shopping medicine cabinet’.

To learn more ways to save money while you shop, visiting the LendingTree Smart Borrower Center.

About LendingTree, LLC

LendingTree, LLC is the nation’s number one online lending exchange, providing a marketplace that connects consumers with multiple lenders that compete for their business. Since inception, LendingTree has facilitated more than 20 million loan requests and 2 billion in closed loan transactions. LendingTree provides access to mortgages and refinance loans, home equity loans/lines of credit, auto loans, personal loans, credit cards and high-yield savings accounts via www.lendingtree.com and 800-555-TREE.

Launched in 1998 with headquarters in Charlotte, North Carolina, LendingTree, LLC also owns and operates LendingTree Loans sm, LendingTree Settlement Services, LLC, GetSmart®, and HomeLoanCenter.com. LendingTree, LLC is an operating company of IAC.

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LendingTree.com Helps Consumers Rein in a Spiraling Credit Line

September 20th, 2010 by Bank Loan | No Comments | Filed in Loans


Charlotte, NC (PRWEB) July 28, 2007

It’s easy for consumers to get caught in the credit line trap: the money is there for the taking so you feel entitled to spend it, whether you can afford to or not. If your credit line is beginning to spiral out of control, there are several steps you can take to staunch the spending flow and begin to dig yourself out before the debt accumulates even higher.

“The biggest mistake consumers make when it comes to credit is not realizing they’re in over their heads until it’s too late,” said Bridget Smith, LendingTree.com Smart Borrower Center editor in chief. “But if you know your spending is beginning to spiral out of control, stop immediately and evaluate what alternatives can best help you.”

LendingTree.com suggestions the following options:


Pay more. Paying the minimum required payment each month ensures your debt will continue indefinitely. Be sure that your monthly payment doesn’t just cover the interest on your credit line, but that it is paying down the principal balance as well.
Refinance to a home equity loan (HEL). A HEL often times carries a lower interest rate than a credit card, so it’s often wise for consumers with high credit debt to use a HEL to pay off their high interest balances. Just be sure that you remove the danger of overspending before obtaining a HEL so that you don’t fall into the same routine of that you just got yourself out of by obtaining the loan.
Consider cash-out refinancing. This option involves taking out a new mortgage with a higher principal, then using the extra cash to pay off your credit line. The advantage to this is you have one monthly credit payment instead of two and likely will come with a lower interest rate than a HEL. But, keep in mind, you’ll be financing the cash you borrowed for the life of the new mortgage. This is definitely something to consider.
Stop spending. Leave the credit card at home when you head out, particularly if you’re heading to a destination that might allow you to make discretionary purchases, such as heading to a restaurant in a mall. It’s hard to spend money if you don’t have access to it.
For more tips on how to gain control over your credit, visit the LendingTree Smart Borrower Center located at www.lendingtree.com/smartborrower.

About LendingTree, LLC

LendingTree, LLC is the nation’s number one online lending exchange, providing a marketplace that connects consumers with multiple lenders that compete for their business. Since inception, LendingTree has facilitated more than 20 million loan requests and 2 billion in closed loan transactions. LendingTree provides access to mortgages and refinance loans, home equity loans/lines of credit, auto loans, personal loans, credit cards and high-yield savings accounts via www.lendingtree.com and 800-555-TREE.

Launched in 1998 with headquarters in Charlotte, North Carolina, LendingTree, LLC also owns and operates LendingTree Loans sm, LendingTree Settlement Services, LLC, GetSmart®, and HomeLoanCenter.com. LendingTree, LLC is an operating company of IAC.

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How Much Money Do You Need for Retirement? LendingTree.com Shares the Facts

September 20th, 2010 by Bank Loan | No Comments | Filed in Loans

Charlotte, N.C. (PRWEB) July 7, 2007

Regardless of how you plan to spend your retirement – starting a new career, traveling, or golfing the days away – you’ll need savings socked away to fund your activities as well as meet your day-to-day living expenses.

How much is enough? Most experts recommend you will need 70-85 percent of your pre-retirement income during your retirement years. So if you’re making ,000 a year now, you’ll need at least ,000 a year in retirement to meet your current lifestyle requirements.

Why not 100 percent? Usually, you can expect your expenses to go down after retirement, assuming your mortgage is paid off and children are out of the house and living independently. Also consider some of the expenses associated with work that will no longer be necessary such as transportation, dry cleaning and lunches out. In addition, Social Security will cover a percentage of your expenses. However, some expenses may increase: health and long-term care, for instance.

Keep in mind that the amount you’ll need in retirement will depend on a number of factors: where you plan to live, lifestyle, the probable length of your retirement – will you want to retire in your fifties or continue working into your seventies? Also, consider your tax commitments, your health and any financial support for your children or grandchildren.

Where will the money come from? Social Security will replace a portion of your income. For instance, the Georgia State University Retirement Income Replacement project (RETIRE), estimates that a single-earner couple making ,000 a year can expect to have 43 percent of their income replaced by Social Security. What about the rest? Figuring for inflation, that single-earner couple will need a 0,000 investment to generate the additional ,000 per year they’ll need after Social Security for their 30-40 year retirement.

Here’s a great tip – If your company participates in a 401(k) program, have as much as you can afford deducted from your paycheck. These earnings are tax-deferred, which means you don’t pay the IRS until you withdraw the funds in retirement. Additionally, many companies will match your contributions, which is income above and beyond your salary. Even if your company doesn’t participate in a 401(k), or if you are self-employed, you can set up an Individual Retirement Account (IRA). Consider other investments as well like stocks and bonds, mutual funds and real estate to help finance your retirement.

A good way to stretch your retirement savings is to plan to have your house paid off by the time you retire. This removes a major living expense and also protects an important asset. There are even flexible financing options – such as a reverse mortgage – whereby the lender actually pays you – buying back your house from you, one month at a time.

For additional information about retirement savings, visit the LendingTree Smart Borrower Center: www.lendingtree.com/smartborrower.

About LendingTree, LLC

LendingTree, LLC is the nation’s number one online lending exchange, providing a marketplace that connects consumers with multiple lenders that compete for their business. Since inception, LendingTree has facilitated more than 20 million loan requests and 2 billion in closed loan transactions. LendingTree provides access to mortgages and refinance loans, home equity loans/lines of credit, auto loans, personal loans, credit cards and high-yield savings accounts via www.lendingtree.com and 800-555-TREE.

Launched in 1998 with headquarters in Charlotte, North Carolina, LendingTree, LLC also owns and operates LendingTree Loans sm, LendingTree Settlement Services, LLC, GetSmart®, and HomeLoanCenter.com. LendingTree, LLC is an operating company of IAC.

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LendingTree.com Provides Money Saving Tips to Cool Your Home This Summer

September 20th, 2010 by Bank Loan | No Comments | Filed in Loans

Charlotte, NC (PRWEB) July 20, 2007

Did you know that during the summer months, air conditioning is the single biggest drain on your power bill? With so many costs on the rise — like gas, groceries and utilities – LendingTree.com provides these tips to help reduce your household costs this summer.

Keep the hot air out and the cool air in – Take a lesson from people living in hot climes: cover sun-baked windows with either awnings, shade trees or high bushes. Shade trees also block the sun from your roof and outside walls. And speaking of your roof, dark materials absorb heat and funnel it straight into your house. If you have a dark roof, all the more important to have good insulation between it and the living areas of your house. Check your windows and doors for air leaks and use caulk or weather-stripping to close them. Double-paned windows will decrease heat-exchange by up to 50%.

Hidden sources of heat – In addition to cooling your house from outside temperatures, your air conditioner unit has to overcome heat generated from inside the house as well. Did you know that most of the energy produced by incandescent bulbs is heat-energy, not light? Switch to fluorescent bulbs. Other “hidden” sources of heat: the dishwasher’s heated drying cycle (let the dishes drip-dry), the oven (use the microwave instead), and “always-on” small appliances like computers and electronics (turn them off when not in use).

Vary your cooling techniques – When the days are mild and breezy, or when the nights are cool, turn off the air conditioner and open the windows. Use ceiling fans to keep the air moving or consider having a whole house fan installed: with the windows open this powerful fan pulls cooler air from outside. Another good use of fans: leave your air conditioner window unit on low and place a fan in front of it to disperse cool air through other rooms. If you live in a very dry area look into an evaporation cooler. It uses three-quarters less energy and works by cooling air from outside across water-soaked pads.

Be nice to your air conditioner – Take a look at how you dress around the house. If you’re wearing a sweatshirt and warm socks, you can probably dress down a bit and turn the temperature up a few degrees. Turn your thermostat even higher when you’re out of the house more than a few hours. The more humidity in your home, the harder your air conditioner unit has to work. In very hot weather, try to limit humidity producing activities – showering, cooking, washing – to early mornings or late evenings.

For other ways to keep money in your wallet this summer, check out the LendingTree Smart Borrower Center by visiting www.lendingtree.com/smartborrower.

About LendingTree, LLC

LendingTree, LLC is the nation’s number one online lending exchange, providing a marketplace that connects consumers with multiple lenders that compete for their business. Since inception, LendingTree has facilitated more than 20 million loan requests and 2 billion in closed loan transactions. LendingTree provides access to mortgages and refinance loans, home equity loans/lines of credit, auto loans, personal loans, credit cards and high-yield savings accounts via www.lendingtree.com and 800-555-TREE.

Launched in 1998 with headquarters in Charlotte, North Carolina, LendingTree, LLC also owns and operates LendingTree Loans sm, LendingTree Settlement Services, LLC, GetSmart®, and HomeLoanCenter.com. LendingTree, LLC is an operating company of IAC.

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LendingTree.com Shares Tips on How to Find the Right REALTOR?

September 19th, 2010 by Bank Loan | No Comments | Filed in Loans

Charlotte, NC (PRWEB) June 1, 2007

Finding the right REALTOR® when buying or selling a home is an important step in helping guide you through a real estate transaction. Because a real estate deal can be complex, it’s a good idea to have a trusting professional with great industry and neighborhood expertise on your team.

A good REALTOR® should have a thorough understanding of your local housing market and be able to serve as both your business partner and advisor through every step of the transaction.

The following tips can help you find the best person for your needs:

List your priorities

A good place to start is by making a list of the most important things you are looking for in a real estate professional. If you are selling your home, you will want to find someone with a successful track record of selling homes in your area. If you are looking to buy a home, find a professional who specializes if a specific area of town. Their familiarity can help you select a good neighborhood, within a certain price range or close to particular amenities such as schools and public transportation.

Attend open houses

Visiting open houses is a great way to get a feel for what’s on the market or a way to determine how much you’re likely to get for your own property. Keep in mind, the agent on duty is representing the seller of that property. If you’re interested in making an offer on a home you visit, you may want to go through your own independent buying agent.

Check your local paper

Real estate professionals rely heavily on newspaper advertising to promote the homes they have for sale. By checking the listings in your local paper, you can see which REALTORS® have homes for sale on a regular basis. You can also keep up to date on your local real estate market so you’ll have a better grasp of what a realistic price range might be for a particular type of property.

Search online

There’s no better way to locate a REALTOR® than by searching the Internet. It’s important to note, not all online resources are the same. Through RealEstate.com, a service of LendingTree, you can fill out one simple form and be connected with up to three pre-screened REALTORS® in your area. You can then choose the one that best meets your needs. All members of the RealEstate.com Find a REALTOR® network are members of the National Association of REALTORS®.

About LendingTree, LLC

LendingTree, LLC is the nation’s number one online lending exchange, providing a marketplace that connects consumers with multiple lenders that compete for their business. Since inception, LendingTree has facilitated more than 20 million loan requests and 2 billion in closed loan transactions. LendingTree provides access to mortgages and refinance loans, home equity loans/lines of credit, auto loans, personal loans, credit cards and high-yield savings accounts via www.lendingtree.com and 800-555-TREE.

Launched in 1998 with headquarters in Charlotte, North Carolina, LendingTree, LLC also owns and operates LendingTree Loans sm, LendingTree Settlement Services, LLC, GetSmart®, and HomeLoanCenter.com. LendingTree, LLC is an operating company of IAC.

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LendingTree.com Provides Five Reasons to Contribute to a 401(k)

September 19th, 2010 by Bank Loan | No Comments | Filed in Loans

Charlotte, NC (PRWEB) May 12, 2007

A 401(k) is a great way to invest in your future. This particular type of retirement plan was created in 1978 to encourage Americans to save more by easing the tax burden for participants. It’s called is a “defined contribution” plan. (Other examples are IRAs and some profit sharing plans.) A 401(k) is set up and administered by employers on behalf of employees.

Here are some of the benefits of a 401 (k) and why contributing to this kind of retirement savings account is so important:

1. Save on income tax – Taxes on 401(k) contributions and earnings are deferred, meaning you don’t pay the IRS on that income until you withdraw it. Assuming you don’t access your 401(k) until retirement, when you have a much lower level of income, your tax rate on that money will be lower than when you earned it. In the meantime, the percentage of your paycheck that is contributed to your 401(k) is made before taxes are withheld, thereby reducing your taxable income.

2. Employer-matched contributions – Many companies provide a matching contribution, which essentially means they are paying you tax-deferred income above and beyond your salary. Let’s say you participate in your employer’s 401(k) program, contributing 10% of your paycheck and your company matches 50%. If our base salary is 00 per pay period, then you are contributing 0 and the company is matching your contribution at 50% () – that’s a 0 investment per pay period, of which the company is giving you, tax-deferred, just for participating in the savings plan.

3. Your 401(k) stays with you – If you change jobs, you can roll your 401(k) account into your new employer’s plan, or into another type of retirement account. Plus, a 401(k) is not just for employees of big companies: even sole-proprietorship businesses can set one up.

4. Flexible options – A 401(k) is not a single investment product, but rather a type of account that can include any number of different investment types, usually mutual funds. Typically, the plans are run by a reputable third-party investment firm or other financial institution and you can often choose between a variety of investments, depending on your risk-tolerance.

5. Savings are automatic – Because your contribution is withdrawn from your paycheck before you receive it, you are never tempted to put off saving, or put the money to some other use. For this reason, a 401(k) is sometimes called a forced savings plan.

This doesn’t mean you can’t access the money in your 401(k) if you need it in an emergency. However, withdrawing money prior to retirement could precipitate penalties that wipe out the benefits of your contributions.

To see if a 401(k) is right for you, consult a financial advisor or check any number of online calculators to see how much you might save, how compound interest works and how much you might save on taxes. In addition, check with your employer for any company-specific benefits and restrictions.

About LendingTree, LLC

LendingTree, LLC is the nation’s number one online lending exchange, providing a marketplace that connects consumers with multiple lenders that compete for their business. Since inception, LendingTree has facilitated more than 20 million loan requests and 2 billion in closed loan transactions. LendingTree provides access to mortgages and refinance loans, home equity loans/lines of credit, auto loans, personal loans, credit cards and high-yield savings accounts via www.lendingtree.com and 800-555-TREE.

Launched in 1998 with headquarters in Charlotte, North Carolina, LendingTree, LLC also owns and operates LendingTree Loans sm, LendingTree Settlement Services, LLC, GetSmart®, and HomeLoanCenter.com. LendingTree, LLC is an operating company of IAC.

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LendingTree.com Shares Five Smart Things to Do with Your Tax Refund

September 19th, 2010 by Bank Loan | No Comments | Filed in Loans

Charlotte, NC (PRWEB) April 13, 2007

Dreaming of a new TV or a shopping spree? Instead, use your tax refund for the benefit of your financial well-being instead. Depending on the size of your refund and your financial situation, consider the following smart uses for your refund.

1. Get rid of your credit card debt. Before you go spend your refund, consider paying off money you’ve already spent on your plastic. Credit card debt can cost you the most when it comes to interest rate charges. Getting rid of some of your outstanding balances can have a big impact on your pocketbook so consider starting here first.

2. Establish a rainy day fund. Though we don’t like to imagine them, unexpected emergencies – a child’s or parent’s illness, loss of a job, or a serious accident – can cause a major drain on your bank account. It’s a good idea to keep a buffer of about three month’s salary, just in case. If you’ve already got an account for this purpose, start a fund for other big ticket investments: child’s college tuition, for instance, or a down payment on an investment property. Stashing this money away in a CD or High-Yield Savings Account ensures the money doesn’t get spent, and has the added benefit of earning interest.

3. Fund a home improvement. Been putting off getting that leak fixed? Fund costly repairs or maintenance to your home like a new furnace, plumbing or electrical work. For larger renovations — like a new roof, kitchen remodel or home addition — combine your tax refund with a home equity loan or line of credit. Home improvements are an excellent way to increase the equity in your home, money you’ll almost always get back out when you sell.

4. Invest. Put that refund to work, earning more money. Invest in a Certificate of Deposit (CD), Money Market Account or High-Yield Savings Account and start earning between 4-5% interest. You might also consider an investment account – either a standard account for trading stocks and bonds, or an Investment Retirement Account (IRA). You can usually deduct IRA contributions on your tax return, and there are many no-cost funds to choose from, through just about any investment institution or bank. Of course, be sure to consult your tax advisor to be sure of any tax implications.

5. Get ahead on your mortgage. Plan to be in your house for a while? Consider paying down your mortgage balance. The more you pay down on your principal, the less you pay in interest over time, which will reduce your monthly payment and equals substantial savings in the long term.

About LendingTree, LLC

LendingTree, LLC is the nation’s number one online lending exchange, providing a marketplace that connects consumers with multiple lenders that compete for their business. Since inception, LendingTree has facilitated more than 20 million loan requests and 2 billion in closed loan transactions. LendingTree provides access to mortgages and refinance loans, home equity loans/lines of credit, auto loans, personal loans, credit cards and high-yield savings accounts via www.lendingtree.com and 800-555-TREE.

Launched in 1998 with headquarters in Charlotte, North Carolina, LendingTree, LLC is part of IAC Financial Services and Real Estate, an operating company of IAC (NASDAQ: IACI), which also owns or operates LendingTree Loans sm, LendingTree Settlement Services, LLC, GetSmart®, RealEstate.comsm, Domania®, and iNest Realty, Inc.

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