When it comes to the stocks that you own, there are usually two options that you might have, and these are the “in kind” or “in cash” transfer. This transaction is usually called an ACAT transfer. The first option simply means transferring your stocks to your new broker while the latter will mean selling your assets and transferring the cash to the new online broker.

Why the first option is preferred over the second is because you’ll have to pay capital gains taxes if you do sell. Alternatively, you can also transfer some shares to your new broker as well.

When it comes to fees, some brokers may charge exit fees so it is a good idea to check with your current broker about the ACAT fees before you make an ACAT transfer. Of course, there are no charges for incoming ACAT transfers but for outgoing transfers. Some brokers don’t charge for partial transfers yet there are a few that will definitely charge exit fees if you want to close your account.

Experts suggest that if you want to avoid exit fees, ACH transfers or partial transfers leaving one share behind are ways to avoid exit fees.  Again this depends on whether or not your current broker charges for partial fees.

So here are 3 tips that will get you started in money mastery:

#1: Differentiating between needs and wants

Apart from food, clothing and shelter, everything else that we require is a want. So being able to distinguish between the two whenever we wish to spend money will go a long way in ensuring that you stay in the green and not end up old and penniless.

#2: Understanding opportunity cost

Opportunity cost simply means things we have to give up so as to get what we want. For example, if you want to go back to school, you’ll have to forego that many years in income. The same applies for the time that you spend elsewhere. After all, the old adage indicates that ‘time is money’.

#3: Moderate your expectations

It has been said several times before that man isn’t satisfied as our expectation increase with every improvement in our lives. Moderating our expectations is probably one of the best things to do as this will also influence the way we spend money to keep up with a lifestyle that we want. Just remember that the day you begin to lower your expectations, you’ll be able to spend your money where it matters and be the better for it.

So here are a few tips to renegotiate credit card debt:

#1: Lump Sum Payment

In some cases, offering credit card companies 25 % of the total amount might just work. Some of them will raise that lump sum amount to 30 % to 35 %. Usually these people are used to debtors avoiding them and this might come as a surprise.

#2: Request for a Lower Minimum Payment

Most credit card companies prefer get some payment as opposed to nothing at all, so it’s a good idea to ask them offer you a lower minimum payment. Just be sure to calculate how much you can pay back before you call them to renegotiate the terms and conditions for a new contract.

#4: Get these Terms in Writing

Verbal agreements won’t help anyone, least of all, the person who is in debt. Once you renegotiate a new contract to pay back your credit card back, make sure that you get it in writing as this will serve as proof. With this, you won’t have to go through the entire process of renegotiating the terms later on.

So here are some tips that can help increase your chances of getting a loan in 2012:

#1: What’s your credit score?

Most lenders will offer you a credit loan if your score is 680 and above while they will avoid borrowers whose scores are 620 and below. Ensure that you have your credit score in place before even getting to request for a mortgage loan.

#2: Get your documentation in place

Bank statement, income-tax returns, W-2s and the last two income stubs are examples of documents that you might be asked to furnish when applying for a loan. Make sure you have these documents in place before you’re caught off guard.

#3: Find out how much you can afford beforehand

Make a budget and factor in unexpected expenses when you are applying for a mortgage loan. If you don’t know how much you can get, use Bankrate’s calculators to help you do that.

#4: Look around for a mortgage

Getting at least three estimates from three bankers and three mortgage brokers is a good idea before you are ready to sign on the dotted line. Shopping around doesn’t just involve looking for the best rates only.

#5: Keep your credit score intact even after the loan is closed

Being approved for a loan doesn’t mean it’s over. Ensure that you continue to pay your bills on time and avoid applying for credit cards or lines before the loan is declared closed.

So, here are steps towards a sound investing strategy:

#1: Define your investment goals

Taking stock of what is important to you in your situation is important before you attempt to make any investments. In other words, you should zero in on investment goals that will suit your needs. Examples of investment could include saving up for a car or home or even a vacation while other common investments might include retirement, college tuition and so on and so forth.

#2: Find an investment vehicle

Once you know what your investment goals are, it is time to find an investment vehicle that will help you to meet these goals. This is where you will need to find specific plans that come with benefits in order to save money according to your investment plans.

#3: Open an investment account

It’s as simple as opening a 401k or an IRA account, and which doesn’t take very much time. However, it is only when you know what your investment goals are you’ll make smart choices according to your needs. And there are several places that you can invest your money in.

#4: Start investing

If you’re just getting started, one way by which you can invest continuously is by automating payments from your paycheck to 401k, brokerage or other payments. Just make sure that you don’t invest too much though.

#5: Monitor & Adapt

While saving doesn’t require you to monitor the money that has been invested, the same isn’t true with other investments. From time to time, you’ll have to perform checks and allocate your assets accordingly

So here are 3 tips that should give you a good idea as to how you plan the repayment of your student loan:

#1: Understand the nature of student loans

Student lenders can pursue you as long as they have to in order to obtain repayment of the loan since there is no provision that erases this debt in the case of bankruptcy. It won’t matter if you are aged or disabled as you will have to cough up the full amount as promised. Of course, this doesn’t work in the case of other forms of debt.

#2: Ignoring your debt might be a big mistake

In understanding the nature of these loans, it would be a bad idea to ignore the repayment of the student loan. You can be sure that this will affect your credit score which in turn, will affect the rates that you are offered when it comes to loans and credit cards. In addition, you could be sued, your income tax refunds won’t be given to you or the renewal of your professional license will be denied.

#3: First private student loans, then federal student loans…

Considering how tough student lenders can be, it’s a good idea to clear off your private loans at first while paying the minimum amount for the federal loans. Once you’ve cleared your private loans, then you can focus on clearing your federal loans.

Now the reasons why you might want to improve your credit rating can be several yet there’s no doubt that you can make an improvement even if it takes a while. So here are three ways by which you can improve your credit rating:

#1: Find out your current FICO score

Before you set a target for improving your credit score, it’s important to know where you stand first. For this, request a credit report from each of the credit bureaus – Equifax, Experian and TransUnion. Once you do this, you can then decide what steps you will need to take in order to improve your credit score.

#2: Look for errors on your credit report

There have been instances when people have seen errors on their credit report. So look a little closer at your report to check for any mistakes just in case you didn’t make any new enquiries or requests for new accounts.

#3: Pay your bills on time, every time

Almost everyone who has a good credit score will tell you that this habit is mandatory. Chances are that if you’ve been doing this for some time now, your credit score would be good enough to get the lowest interest rates. When it comes to credit cards, try as much as possible to reduce the balance on your cards and most of all, don’t max out your credit cards.

Since it’s been proven time and time again that business cards play a key role in getting the word out, here are some tips that can help you make the most out of this simple marketing tool.

#1: Always carry them with you

No matter where you go, carry business cards with you. You can make the most of “per chance” meetings regardless of whom you are meeting or the place you are visiting. A lot of people have benefited from this approach even if it means giving someone’s mom your business card. Quite obviously, ensuring that you get a professional looking business card can go a long way in creating positive perceptions about your services.

#2: Request for referrals whenever possible

In some cases, you can ask people to refer you to someone who might need your services. Some businessmen are not comfortable in doing that but the truth is that most people will not reject your request. Just make sure that you give them two business cards, for obvious purposes.

#3: Follow up consistently

If you’ve had a meeting with someone who could be of value to you in your real estate investing business, ensure that you follow up the meeting with a handwritten note saying “Thank you for your time” plus your business card. In being patience, persistent and being  polite, you never know what can come of it.

So here are a few tips that might aid you in the success of your real estate business:

#1: Understand your objectives

Usually, there are four reasons why you might want to market your services as real estate investor and they are SEO, Lead generation, branding and listing plan. Once you know why you want to create a marketing video, you can move on to creating the content for the video itself.

#2: Keyword research is important

Regardless of the purpose of your marketing video, using the Google Keyword tool will be a smart idea as it will cater to the needs of people that are looking for information such as this.  Just ensure that if you are picking a particular keyword, there isn’t too much competition.

#3: Choosing the type of video

There are several types of videos that can be created based on the actual outcome that you desire. Some of the options include neighborhood video tour, video property tour, screen capture video and a video slide show among others.

#4: Create the video

Once you choose the type of video, you’ll have to plan out the content accordingly. This might require the use of a computer for screen capture or a slide show. Of course, for the other types you might need to shoot video at actual properties.

#5: Find video-sharing sites for distribution

Starting with Youtube, you can upload your videos for distribution, since it is the most popular video sharing site now. However, the more sites you share your video on, the more likely you might be able to reach your objectives.

However, there are certain myths about money that we might not be aware of and are held back by, and so here is a list:

#1: The higher the income bracket, more tax will be deducted

When you move up from income bracket to the next, you must understand that the amount that is taxed at a higher rate is the amount that exceeds the cutoff amount for the previous tax bracket. For example, if you make $ 30,000 and now make at least $ 33000 for whatever reason, this doesn’t you’ll be taxed at 25 % for the entire salary but only the amount ($ 1150) which is calculated by deducting 33000 from 31850.

#2: I don’t have enough money to invest

While there are genuine reasons for some people to use this excuse, there are online savings options that will give you a good interest rate while also not requiring you to make a large enough deposit that makes you think twice. Just look around, and you’ll find a way.

#3: It’s too late/ early for me to start a retirement fund

Retirement is probably the most important phase in our lives, and whether you are old or young, it is important not to hesitate in opening a retirement account. A 20-year old can benefit greatly by starting early and most old people shouldn’t deter themselves from doing so because in most cases, they only use the money long after they’re 65 years of age.