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Helping Japan: How to Make Sure Your Money Goes to the Right Place

Helping Japan: How to Make Sure Your Money Goes to the Right Place

    The events that have unfolded in Japan over the past week are horrifying, sad, and devastating.  The country is facing death and destruction at the hands of a massive 9.0-magnitude earthquake and the subsequent tsunami. Now they are also on the verge of a nuclear disaster.  Many countries and organizations are pledging volunteers, supplies and money to help.  But what about you, average Joe citizen, how can you help?  How can you be sure that your hard-earned money will actually go to the people who need it?  How can you be sure that it will get there as fast as it can, instead of months later?  How can you be sure that half of what you’re giving isn’t going to “administrative” fees?  If you are inclined to donate, please keep the following guide I have created in mind before you write that check, hand over that cash, or push “Send”.

    Finding a Reputable Charity

    One great resource to finding a charity to donate to is CharityNavigator.com.  Using this site, you can search through their database of charities and find one that interests you.  Each charity has star ratings as well as a complete, detailed profile.  Information is included such as the organizations efficacy, how much goes to administrative costs, and so on.  There are also links that will take you to the charity’s site where you can complete your donation.

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    See Where Your Money is Going

    Be wary of the organization that assures you that 100 percent of your donation goes to help the victims or particular effort.  They are likely not being truthful.  Every organization, even charitable non-profits, have some overhead expenses.   To make sure that you get the most bang for your buck, you’ll want to be sure that you avoid middlemen.  Some groups may simply collect the money and then pass it on to more hands-on charities.  Avoid diluting your dollars by giving directly to groups that are already on the ground and helping the victims in Japan.

    Be Skeptical of Offers that Promise to Donate Money for Things You Buy

    Lady Gaga’s heart might be in the right place with the new bracelet she has launched, with all profits going to help the victims in Japan, but you’re really not helping as much as you could.  If your goal is to help and not score some cool gear, you’re better off giving directly to the charity yourself.  The entire cost of that $5 item isn’t going to Japan, only the profits are, and what the company might deem to be “profit” can be kind of sketchy.  From that five dollars, subtract the cost to produce the item, to market it, etc.  If you’re going to spend anyways though, by all means, spend away – at least a portion will go to help.

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    Forget Putting Together Your Own Care Package

    While it might be tempting to put together a “care” package for a needy family in Japan, it’s probably not the best idea.  Right now, infrastructure is severely damaged in some areas, making things like delivering packages impossible.  It’s also a logistical nightmare.  You’re better off giving to a group with people on the ground and a plan in action.

    Reconsider Texting Your Donation

    Making donations through a simple text message became popular during 2010’s massive earthquake in Haiti.  But one thing that a lot of people didn’t seem to know was that there’s a delay between when you send the money by text.  The charities don’t get it for at least 30 days later.  And while Japan will likely need help for many months and years to come, if you are wanting your money to help immediately, it’s better to send them a check or money order by mail.  They’ll get it a lot faster that way.  Even using your debit card or Paypal balance is a lot faster.  Just keep in mind that when you donate digitally, there will be hidden fees taken out of your total donation, so it will get diluted somewhat.

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    Avoid Newly Formed Charities

    Getting a new charity off the ground is a difficult venture in itself.   In the midst of a disaster it’s virtually impossible to succeed.  You wouldn’t trust your life savings to a financial firm that just opened, has no track record, and whose employees have zero experience, so why would you donate to a brand new charity?  Find a charity with a proven history of success, and ideally one that’s already on the ground in Japan helping. Research before you write that check.

    Watch Out for Scams

    In the wake of disasters, it seems that while there are a lot of people willing to help out there are also plenty of unsavory types looking to cash in on your goodwill for their own devious means.  You’re better off sending in your money to an official organization’s address than handing it over to a person going around collecting donations. While they might actually be doing good, there’s a chance they’re just looking to run off with your money.

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    Some Carefully Vetted Charities That I Recommend

    • Doctors Without Borders USA
    • American Red Cross
    • Save the Children
    • Relief International
    • Food for the Hungry
    • Direct Relief International
    • AmeriCares
    • Action Against Hunger
    • Catholic Medical Mission Board
    • World Vision
    • Global Giving
    • International Medical Corps
    • Convoy of Hope
    • Oxfam America

    All of these organizations are have high ratings on CharityNavigator.com, and have people already in place in Japan distributing aid.  You can find additional lists of reputable organizations to give your donation to on their website as well.  If you don’t see a charity listed either on my list here or on their list that’s not to say it’s a scam, but you’ll want to make sure you do your research first.

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    Julie McCormick

    Julie McCormick is a writer, and co-owner of The Cleveland Leader, a Technorati Top 1000 site.

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    Published on January 8, 2021

    How To Pay Off Credit Card Debt Fast: 7 Powerful Tips

    How To Pay Off Credit Card Debt Fast: 7 Powerful Tips

    Ever wondered whether your credit card debt is the reason you’re in a bad financial situation? You can’t enjoy any fun activities because a good chunk of your money goes toward debt payment. Heck, you’re even behind on some of your monthly bills.

    The effects of clumsy debt management are too many to list here. This guide is going to help you discover how to pay off credit card debt fast and start chasing your financial goals.

    Debt problems are the last thing anyone wants to encounter. But things can get out of hand when all the “little debts” you take accumulate in interests.

    What if you knew some simple and proven ways to be debt-free quickly? Implementing them would mean better financial health for you. It becomes possible to free up cash for your “wants.” These include taking a trip or buying something you’ve always desired. All that while paying your bills on time!

    Let’s not wait any longer. Here are 7 powerful tips for paying off credit card debt fast:

    1. Pay More Than the Minimum Credit Card Payments

    Many people only pay the monthly minimum on their credit cards. Truly, that’s the right amount for staying on good terms with your credit card company. But you need a different approach if you’re looking to achieve financial independence within a short time.[1]

    Most of your payments go toward interest costs when you only pay the minimum amount. A substantial sum of your balance remains standing. As a result, it becomes more expensive to eliminate your debts.

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    You don’t want to wait more than 10 years to get rid of debt while it’s possible to do it sooner. All you have to do is double that $100 minimum payment to $200 or go higher.

    The good thing is that minimum credit card payments are affordable in most cases. By paying a higher amount, you reduce your interest costs, lessen your borrowing period, and boost your credit score.

    2. Start With High-Interest Credit Card Debt

    If you have more than one credit card debt, prioritize putting the extra money toward the ones with the highest interests. This debt pay-off strategy, known as the debt avalanche method, is essential for being debt-free quickly.[2]

    First, you need to list down all the credit card debts you have in the order of their interest rates. Next, you choose the one with the highest interest and pay a significant amount toward it each month. It can be an amount twice or even thrice larger than the minimum payment.

    At the same time, you make monthly minimum payments on the other debts. Their interest charges won’t be as costly as that of the first debt on your list. You only move on to the next high-interest debt after the first one is gone. Remember that your focus is on the interest rates and not the balances.

    3. Revisit Your Budget

    Budgeting is useful for tracking your financial moves. Once you create a budget, some tweaks along the way can make it work for you better. One situation that requires you to revisit your budget is when you’re struggling with debts. It might hurt a bit to slash some expenses. But you also don’t want to miss out on achieving financial freedom in the long run.

    You can reduce some variable expenses to free up more cash for credit card debt payments. They’re the ones that change from time to time. Some examples are groceries, fuel, and clothing.

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    Other opportunities for cutting down your spending lie in non-essential expenses. Instead of dining out all the time, you can cook at home more to save money. You can also share some subscriptions with friends and pay a fraction of the cost.

    If you’re determined enough, you can eliminate all your unnecessary expenses and focus on paying off your credit card debt first.

    4. Avoid Using Your Credit Cards

    Do you want to know how to pay off credit card debt with a low income? One simple way is to stop using them. Having your credit cards everywhere you go means that you’ll be more tempted to buy unnecessary stuff. In this case, you spend money that you don’t really own and get deeper into debt.

    The quickest fix to stop the debt build-up is spending with cash. You’ll be more aware of everything you can afford at any particular time. If you decide to keep one or two cards to ease the transition, always make wise choices. For instance, only use them when experiencing financial difficulties.

    It’s best to categorize your fun activities under “discretionary spending” in your budget. This way, you won’t need more debt to kill your boredom. By halting your credit debt from accumulating, it’s easy to pay down what you already owe and be happy with the progress.

    5. Start a Side Hustle to Boost Your Income

    You’re probably turning away a lot of money by not monetizing your skills. Everyone has something that they’re good at doing. And you can use that to generate extra income for attacking your credit card debt.

    If you look around your neighborhood, you can find several side hustle opportunities. It can be pet sitting, tutoring, or lawn mowing. You can start an online business by offering services such as digital marketing, content creation, and web development. Such skills go in high demand on freelance sites and job boards.

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    Finding clients on social media is also a good strategy to utilize your skills and make more money. Facebook groups, Quora Spaces, and subreddits are some places to look for side jobs. You only have to join a niche-specific platform, share your services, and respond to any opportunities.

    It’s possible to learn a skill, practice it, and earn from it. Use the free resources online or purchase some e-courses to get started.

    6. Sell Your Used Items for Extra Cash

    Starting a side hustle isn’t the only way to generate extra money. You can turn unwanted items into cash for paying off credit card debt. Whether it’s an old TV, book, or furniture, there is always someone itching to buy your used stuff.

    A garage sale, as much as it’s old-fashioned, is perfect for getting your neighbors and passers-by to buy from you. You keep all the money because there are no business permits or taxes involved. While you may not make much cash, it’s better than leaving your stuff to go defunct in your storage.

    Other than that, you can sell your used stuff on online marketplaces. Facebook groups are great places to start if you want quick approvals and hence sales. You only have to ensure that your listing follows Facebook’s commerce policies.

    When selling any pre-owned items online, ensure they’re in good shape to avoid problems with your buyers.

    7. Know When to Seek Help With Your Debt

    Asking for help with your credit card debt can be challenging to do. But letting it drown you is a road you don’t want to take. While you may feel embarrassed at first, it’s the best way to get back on track when you run out of options.

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    There are tons of non-profit credit counseling organizations that can offer you free guidance on how to escape the debt trap. An example is The National Foundation for Credit Counseling. They simply review your finances and help you determine the source of your financial problems. After that, they match you with an actionable debt management solution.[3]

    In extreme cases, the debt solution can be:

    • Debt relief – where your debt is partially or wholly forgiven
    • Debt consolidation – taking out one loan to repay others
    • Debt settlement – the creditor forgives a significant portion of your debt
    • Bankruptcy – legal process for seeking relief from some or all your debts

    It’s necessary to carefully weigh your options before deciding on the way to go. Find out how it might affect your credit score and any other risks.

    Wrapping It Up

    Debt is a major setback when you’re trying to prosper in life. Paying off credit card debt is essential if you want to reach your financial goals. That means having more free income, a good credit card score, and even a chance to retire early. You become more productive each day because of the peace in your mind.

    So, you now have some tips on how to pay off credit fast. Go ahead and get rid of that good life progress killer!

    More Tips on How to Pay Off Debt

    Featured photo credit: rupixen.com via unsplash.com

    Reference

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