Stale Green Light

Just as things were appearing to get better of Wall Street – there is talk of a potential CIT Group bankruptcy. Today CIT Group announced that bailout talks with the government had fallen through. Apparently CIT group is not considered “too big to fail” as other companies who were bailed out in the past year were thought to be. This potential bankruptcy would be the first large financial institution to fall since Lehman Brothers in 2008.

CIT Group is a major lender to small and medium size businesses throughout the country. Over a century old, CIT group began lending in the riskier markets of sub-prime mortgages and student loans. The recession had a major impact on these areas and CIT group has suffered from the resulting impacts.

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One of the most important things to help you stay debt-free and financially stable is to create a budget. It will help you see where your money is going and hopefully help you change unnecissary spending habits.

There are 3 steps to creating a budget:

1. Identify how you are spending your money

2. Evaluate your spending and set goals to help you reach long-term financial objectives. Beware of those things that are luxuries, yet are disguised as necessities.

3. Track spending to help you stay within your limits. Try to spend less than 90% of your income so that you can meet those long-term financial goals with the 10% that’s left over.

To make planning a budget easier, there are some software programs, such as Microsoft Money and Quicken, that have budget-making tools to make the process easier and more efficient for you.  Just remember, however you decide to create a budget, if you stick to it, you will reap the rewards of having a piece of mind and financial security for the future.

NetSpend is a innovative company that provides its customers with prepaid cards that act as MasterCard of Visa debit cards. NetSpend offers customers that have bad credit, who are unable to open a credit card account, the ability to have the convenience of a debit card without all of the hassle. With these NetSpend prepaid cards, one can transfer any amount of money onto the cards and not worry about bills at the end of the month or any overdraft fees. The money you put onto the card is the only money that can be taken out. This money can be transferred online, or in any bank. NetSpend prepaid cards offer the ability to do almost anything a visa card can do. You can withdraw cash from an ATM, shop online, grocery shop, pay bills and even pay for gas. NetSpend is an affordable way to avoid the costliness of opening bank accounts and credit card accounts. They also offer a way to stay debt-free and to keep your money spending in-check. Not only are they convenient and affordable, they also make great gifts. NetSpend offers visa prepaid gift cards that are good almost anywhere! Prepaid debit cards are all-in-all a safe and easy way to save money and keep spending in check. Thanks NetSpend!