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College Students Buying Your First Car? Here are 4 Tips to Keep in Mind

Posted on Nov 27, 2015 with No comments

Nov 27, 2015

There’s nothing more thrilling than the thought of getting around campus in the driver’s seat of a new car. No more carpooling or public transport, just you and your ride.

Making this dream a reality, however, takes a bit of planning to ensure you are driving away with a good deal because as any experienced motorist will tell you, owning a car offers a tremendous sense of freedom and independence, but it also comes with a big responsibility.

So to help you make your first car purchase a little less bumpy, Tyre Compare is here to help out with a few important tips.

1. Set a realistic budget

Everybody wants to drive the slickest wheels but not everyone has the cash for it. And as a young driver, it’s important that you understand what you can afford.

If your parents are helping you with the purchase, get them to help you set a reasonable budget. If you are looking to take out a loan, it’s important to take all expenditures into account, the most important numbers being the down payment and monthly payments. Taxes, registration, and insurance costs must also be considered.

And remember, the bigger the engine and/or the faster the car, the more gas it will consume. Better go for small or midsized sedans and hatchbacks instead if you are on a tight budget. They might not turn heads, but they are cheap to buy, cheap to run, and cheap to maintain.

2. Do your research

Once you understand your budget, it’s time to create a shortlist of vehicles that match the price range you’re going for. Reading online reviews from industry experts as well as consulting owners of different car models will help you narrow down your choices.

If you are on a budget, look for practical options and vehicles with a strong track record of affordable maintenance and reliability. While a shiny new BMW can no doubt bump up your street cred, you might want to think twice once you realize the maintenance costs of such European cars.

Test-drive your top picks

If you’re ready with a shortlist, it’s time to head to your nearest dealership and take your top picks for a test drive. This is your opportunity to see whether you will be comfortable in your car and whether its performance suits your requirements and expectations.

Regardless of whether you’re buying new or used, it’s important that you spend a reasonable amount of time getting to know the vehicle on the road. It’s also a good idea to bring along a checklist to assess the vehicle, taking into consideration factors such as exterior and interior appearance, ride comfort, braking handling, acceleration and more.

If you are buying used, there are pre-purchase inspection services out there that will take the risk out of buying something of unknown history. There is a fee for such inspections but you can treat it as buying peace of mind.

3. Negotiate like a pro

If the vehicle looks good and it meets your budget and requirements, then it’s time to negotiate the sale price. Nervous about negotiating? Then have an experienced adult come along and assist you. Salespeople are charming charismatic creatures who are trained to part you with your hard earned cash. If you go to the dealership on your won, you may run the risk of making costly, impulsive decisions on unnecessary additional products such as extended warranties and rust-proofing.

It takes a lot of patience and persistence to get a good deal on the right car—but the rewards can be worth all the effort. Following these tips, you can be well on your way to getting behind the wheel of your dream car as painlessly as possible.

The Best Universities Ranked By US News and World Reports 2015

Posted on Nov 22, 2015 with 1 comment

Nov 22, 2015

Just this week US News & World Reports have put out a list of the top colleges and universities globally. These institutions in the U.S. and in 60 countries have been ranked based on 12 indicators that measure their academia, performance and their global reputations.

With this list parents and students can all their higher education options in country and abroad. On this list of 750 school you will be able to do your research for that just right college for the student in your family.


5 Tips Every Parent Needs to Know When Paying for College

Posted on Nov 2, 2015 with 1 comment

Nov 2, 2015

As the fall session swings into full gear, numerous existing and potential college undergrads-- and their folks-- are thinking of how they will actually fund that sought after degree. Everyone frequently see headlines about the rising expense of school and the stress it places on household resources.

There is no doubt that paying for a student's college education is among life's most substantial financial commitments. Therefore, how can you keep junior's undergrad years from ruining your very own retirement savings? The following are a few vital planning ideas to assist you ace this test:

Start Early

The sooner you begin planning your kids's financial future, the better. Begin by drawing up your objectives and the plans you will have time to fulfill them so you have a clear path towards financial growth. According to the "2015 College Saving Report", just 16 % of working Americans stated they had a prepared financial strategy and just 29 % had developed a detailed spending plan.

Think of this as if you were constructing a home-- would you begin before you had a plan for the building? Without a good picture, or perhaps a sketch of exactly what your objective is, your foundation is no more stable than a tower in the mud.

Create a savings Plan

Think about opening a money market account for your kid to contribute to from a young age-- allocating it for their future university costs. This will provide them the chance to recognize the significance of saving, seeing interest build up and working to an objective.

While your kid might not have the ability to pay their whole tuition expense, having them take part in the procedure might ease some of the pressure on you, particularly if they are responsible for paying for specific costs such as books, computer requirements and even entertainment money. You might discover they ultimately learn how to budget themselves more intelligently in college when they have some skin in the game.

Use 529 Plans to Save Money Tax Free

Among the very best tax advantaged tools for college savings is a 529 program. These programs, which are sponsored by states, state providers or universities, are meant to assist households save for future education expenses. Think about opening one for each daughter or son as early as possible, and designate a specific sum into each account annually.

Choose a program with low expenses and a great ranking-- see to see if one is provided in your state, which even allows you to deduct some of your yearly plan contributions off your taxable income. Make certain to save as much as you can into those programs annually. Arrange it into your list of year-end financial goals, or time it for when you get a possible bonus. Additionally, urge your kid's grandparents and relatives to make financial presents for birthdays and holidays.

Put Money away When Your Child is Young

New moms and dads might particularly believe they have all the time in the world to get ready for their child's university education. It's essential to acknowledge that the cost connected with a college and university degree is among the biggest costs for a household-- right up there with buying a home and paying for a marriage.

You need to think about not just the expense of education, but in addition room and board. Time has the tendency to move quickly when you have kids-- it's crucial that you begin saving as soon as possible to receive the long-term rewards of compounding.

While this event is still a long way off for these children, wise finance steps such as this lead the way for future monetary success, and can help in reducing the effect of other costs, like education expenses.

Apply for Scholarships and Financial Aid

Lots of moms and dads believe their kid will be fortunate enough to obtain a complete ride to college through either sports or scholastic success. However this method is no different than counting on a fortunate lotto ticket as your retirement plan. Still, before you choose to make use of the funds you have actually invested into a 529 program, motivate your kid to qualify for as many scholarships as practical.

There are lots of choices and opportunities for chipping away at the tuition costs. After obtaining any scholarships and integrating them into your financial strategy, then exhaust the 529 plan. Lastly, check out financial assistance alternatives and your capability to pay of pocket.

While covering the expense of university can be a difficult challenge to conquer, it can be much less intimidating when you have a plan in place. If you begin saving early on and make use of all the resources offered to you, chances are you might get an A+.


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