January 22nd, 2011 | Posted in Debt Relief
Are you wondering how to eliminate your credit card debt?Many credit card companies have told people that there are ways to eliminate credit card debt. However, it is not always certain whether these companies are actually helping people or helping themselves. Fortunately for consumers, there are now ways that are both legal and ethical that can help you to get your debt under control.
Individuals are desperate for a way out of massive credit card debt. With the passing of President Obama’s stimulus package, Americans can now enjoy more financial freedom because they have the ability to have this debt wiped away. For those who have more than $10,000 in debt, this is a fantastic way to enjoy a fresh financial start.
For those who are having a difficult time with paying off credit card debt, this stimulus bill package could present an answer for you. You need to find a corporation that will examine your current debt situation and present you with a solution that works for you without throwing you deeper into the pit of debt. You may also want to consider an ongoing credit counseling agent to help you to set up a financial plan that will keep you on track.
Americans spend a great deal of money on a line of credit that they intend to pay back, but the recent recession has caused many to experience job loss and financial troubles. Thanks to the passing of the stimulus bill, many are going to be able to make their way out of debt. If you fall into this category, it is wise to find someone who can provide you with the necessary information so you can find your way out of debt, too.
Now, once you get out of debt, it is important to try not to get into this situation again. There is no reason to be in debt when you do not have too.
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December 3rd, 2010 | Posted in Debt Relief
If you’re considering selling gold jewelry, there’s a very important point that you should think about. Jewelry has never been valued more than it is right now, so in case you have been hesitating to sell your used gold, you may want to reconsider. The price of gold jewelry seems to be climbing higher and higher every day. Do not overlook this 21st century gold rush.
If you are in possession of some old jewelry that has been in a shoe box for the last twenty years, it could possibly be worth a few hundred dollars or even more. But just like everybody else, you really have no idea how much it is really worth. Yep, you can check on the cable news channels, but is that really the best way to tell how much your jewelry is worth. Think about the price of gold in grams. By the time you are reading this, gold is probably somewhere between $35 or $40 a gram.
Where are you going to sell your jewelry? Most people think that they know the best place to sell gold, but you should be concerned with the value of your items. If you have some jewelry with no precious value, you may be able to auction it off at a website. But if you are looking for some real money when you sell your precious items, you have some options that are better.
The simplest method for checking to see if your jewelry is real is the karat test. Just check your items for a 14k or 18k. It just that simple.
The pawn shop around the corner from your house is a decent place to sell your gold jewelry. Your items will be examined to see if they are real. And they will also be tested for purity. After this process, you will be made an offer, but it probably won’t be very much. But don’t be discouraged, there are a few more places that you have to choose from.
There are better places than others, but the best choice in my opinion is to find a web based gold buyer that does not have a lot of overheads. There are good ones and bad ones, so it is best to look for a service that has been doing business for years.
When I made the choice to sell my gold for a additional cash, I looked all around the web to ensure that I got the most cash that I could.
December 1st, 2010 | Posted in Debt Relief
You have likely seen the commercials. You have probably seen the ads. There are many companies that will buy your scrap gold pieces, including jewelry, dental crowns, and even coins. With the price per troy ounce near historic highs, the temptation to convert broken or useless scrap gold into cash is irresistible. The problem is, many people who own such items are unaware of their value. Even worse, they don’t know how to calculate it.
Before you approach a buyer, make certain you know how much your scrap gold is worth based on current market prices. Otherwise, you’ll leave yourself vulnerable to buyers who extend unreasonably low offers. We’ll explain how to determine the value of your gold pieces below. The following steps may appear daunting, but the process is deceptively simple.
Step 1 – Categorize Your Pieces By Karats
On bracelets, necklaces, rings, and other pieces of gold jewelry, you’ll find hallmarks. These are markings that reflect the gold content in the pieces. For example, you might see 14K (or 14kt) imprinted on a ring. Or, you may see 18K stamped on a watch. The “K” represents karats. You won’t find these markings on most non-jewelry items. You’ll need to have a jeweler test them for karatage.
Once you have determined the karatage of each piece, separate them into groups categorized accordingly. Place the 14K items in one pile, the 18K pieces in another, and so forth.
Step 2 – Weigh Each Group
Determine the weight of each group in grams. You can buy a small jeweler’s scale for under $20 that will do this easily. If you own a scale that measures ounces, and prefer to avoid purchasing another scale, you can conduct a simple conversion from ounces to grams. A single ounce equals approximately 28.35 grams. So, if one group of scrap gold weighs 2.5 ounces, it weighs 70.875 grams. Do this for each group.
Step 3 – Find The Current Market Rate
You can find the market price of gold listed in the newspaper or online. Rates are listed per troy ounce, with a single troy ounce equaling approximately 31.103 grams.
One word of caution: avoid pulling the market price from a gold buyer’s website, unless you are certain the buyer is trustworthy. Some companies will list a lower price, causing sellers to miscalculate the value of their scrap gold. Be wary.
Step 4 – Determine The Rate Per Gram
Convert the listed rate into a price per gram. This is done by dividing the price per troy ounce by 31.103. For example, if gold is currently selling at $1,200 per ounce, divide this rate by 31.103. In this case, the price per gram would be $38.58. If gold is selling for $1,300 per ounce, the price per gram would be $41.80.
Step 5 – Calculate The Aggregate Value Of Your Gold
To determine the total value of your scrap gold, you’ll need to multiply the values of each group by the fineness of its gold. Fineness is dictated by karatage as follows:
24K = 1.000 fineness
22K = 0.917
20K = 0.833
18K = 0.750
16K = 0.667
14K = 0.583
10K = 0.417
8K = 0.333
As an example, suppose your group of 18K scrap gold items weighs 7 grams. Further suppose the price per troy ounce is $1,200. To find the value of the group, multiply the rate per gram ($38.58 from earlier) by the fineness of 18K gold (0.750). The value per gram for this group is $28.94. Next, multiply $28.94 by the group’s 7 grams to arrive at $202.58. This is the value of the 18K group.
Perform the same calculation for each group, and add the values together to arrive at a total.
Determining the value of your scrap gold is relatively simple, though the process may seem intimidating. Use the step-by-step guide above to evaluate your collection before approaching a buyer.
