More people are getting motivated to save money because the online banking options are more appealing. People have found that they can open a checking account at an online banking site and enjoy all of the conveniences that they already enjoy at a land-based bank in their local community. People can enjoy online savings too when they do their banking online because online banking institutions do not charge any fees to open an account with their firm.
The online banking options all people to get cash whenever they need it too. People have the option of paying an annual fee for a name brand credit card, or they can use the debit card awarded when the online banking account was established free throughout the year. People are finding that they can use the debit cards to withdraw cash from any automatic teller machine in the country and the available cash limits are very generous and allow people to earn money at the same time.
The small fees charged by ATMs add up over a year and some online banking options will reimburse customers for that expense if it is one of the options they select when the account was opened. The online banking options allow banking customers to establish checking and savings accounts that accrue interest at rates that are above what is offered by land-based banks. Online banking customers do not have to worry about idle cash because the online banking options are constantly working on their behalf to make their money and businesses grow.
People enjoy the convenience of making purchases online with the online banking options they have established. Since all funds in an online bank are fully insured, online banking customers know that is safe and secured 24-hours a day. Online purchases are protected by many Laws, and the threat of any fraud occurring is very minute. Online banks are just as safe as the commercial banking institutions around town because encryption software protects personal information provided online.
The best online banking options can be enjoyed all the time because the online banks never charge fees for the online banking options they offer. People can pay bills online and not worry about paying late fees ever again. They can use the online banking options to save money in savings account and through investment portfolios. Whichever online banking options are selected, online banking customers know that they will reap greater rewards by banking online. All of the money in any account is assured of growing in size because each account earns a daily interest rate for all money that remains in the account.
Some of the online banking options will help people save for retirement. One of the online banking options allows customers to open certificate of deposits which accrue interest over the period of a year, or in as little as six months. People can build an attractive nest egg through U.S. money market accounts and people can also enjoy using those funds when retirement time finally rolls around. The online banking options allow people to track interest rate averages for CD accounts and make elections online which saves people a lot of personal time.
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Wednesday, November 19, 2008
Sunday, November 16, 2008
Tips in Business Finance Management
In putting up any kind of business, the end goals are primarily profitability and progress. Magnifying your money is the target endpoint. To be able to do such, you ought to focus on a very important aspect of your business- Business Finance Management. Below are some tips that you can follow not just to ensure the sustainability of your company, but to probably maximize its potentials.
1. Raise Money- Lots and lots of it. Businesses need more than sufficient funding. They need funds for the expected expenses, more funds for unexpected problems, and reserved funds for possible beneficial ventures. As such, when you are attempting to look for funds and possible investors, maximize the opportunity. Prepare big time but feasible business propositions. When opportunities for investment and profit knock on your doors, take chances and welcome the chance. However, you ought to grab the risks only after you have carefully examined the possible consequences of your business venture.
2. Acquisition is not always the answer. During business ventures, there is always plenty of room for additional expenses. Your first budget allocation for a certain expense may not be enough. You may need additional equipment and materials that require you to make unexpected expenditures. In such cases, note that buying what you need is not the only option. Look for alternatives such as renting or leasing the equipment you need. However, do take note of the rental or leasing fee versus the acquisition expenses, in accordance to your time frame for equipment usage.
3. Inform the concerned. In business ventures, you ought to keep pertinent parties aware of whatever is happening in your business. Pertinent parties refer to those who will be affected by the profitability or fund inadequacy in your business. These parties include your bank, your investors, your suppliers, your customers, and even your inland revenue representative. Realize that keeping them informed maintains good business relationships. It may also heighten their concern for your business needs such as additional funds and/or more profitable business deals.
4. Welcome Renegotiations. There are some cases when your investors, suppliers, and customers ask you for renegotiations on your transactions. Be open for such possibilities and options. Avoid limiting yourself to uniform business deals. Recognize that suggestions made by the people you are working with are worth your attention. This will not only help you maintain good business relations with them. Instead, it can open your doors to business opportunities which may prove to be beneficial in the long run.
5. Stick to strict payment and debt procedures. Renegotiation starts and ends with business deals. They should not extend to your payment procedures and debt accountability. When allowing your customers to go on credit, do a thorough financial check first. Set clear procedures for payment and be sure to follow them, without exceptions. You should also set a specific deadline for each debt. Realize that a service or product on credit is a potential loss for your business finances.
6. List everything. This may be a tedious task but such may prove to be very beneficial for you in the end. Realize that no matter how big or small your business deals are, all of these mirror how you manage your finances and all of these affect the overall outcome of your business venture. As such, you ought to practice proper bookkeeping and accounting.
1. Raise Money- Lots and lots of it. Businesses need more than sufficient funding. They need funds for the expected expenses, more funds for unexpected problems, and reserved funds for possible beneficial ventures. As such, when you are attempting to look for funds and possible investors, maximize the opportunity. Prepare big time but feasible business propositions. When opportunities for investment and profit knock on your doors, take chances and welcome the chance. However, you ought to grab the risks only after you have carefully examined the possible consequences of your business venture.
2. Acquisition is not always the answer. During business ventures, there is always plenty of room for additional expenses. Your first budget allocation for a certain expense may not be enough. You may need additional equipment and materials that require you to make unexpected expenditures. In such cases, note that buying what you need is not the only option. Look for alternatives such as renting or leasing the equipment you need. However, do take note of the rental or leasing fee versus the acquisition expenses, in accordance to your time frame for equipment usage.
3. Inform the concerned. In business ventures, you ought to keep pertinent parties aware of whatever is happening in your business. Pertinent parties refer to those who will be affected by the profitability or fund inadequacy in your business. These parties include your bank, your investors, your suppliers, your customers, and even your inland revenue representative. Realize that keeping them informed maintains good business relationships. It may also heighten their concern for your business needs such as additional funds and/or more profitable business deals.
4. Welcome Renegotiations. There are some cases when your investors, suppliers, and customers ask you for renegotiations on your transactions. Be open for such possibilities and options. Avoid limiting yourself to uniform business deals. Recognize that suggestions made by the people you are working with are worth your attention. This will not only help you maintain good business relations with them. Instead, it can open your doors to business opportunities which may prove to be beneficial in the long run.
5. Stick to strict payment and debt procedures. Renegotiation starts and ends with business deals. They should not extend to your payment procedures and debt accountability. When allowing your customers to go on credit, do a thorough financial check first. Set clear procedures for payment and be sure to follow them, without exceptions. You should also set a specific deadline for each debt. Realize that a service or product on credit is a potential loss for your business finances.
6. List everything. This may be a tedious task but such may prove to be very beneficial for you in the end. Realize that no matter how big or small your business deals are, all of these mirror how you manage your finances and all of these affect the overall outcome of your business venture. As such, you ought to practice proper bookkeeping and accounting.
Friday, November 14, 2008
Discussion on Progressive Taxation
The United States government taxation system is based off the fundamental progressive taxation theory. Most people don t fully understand the taxation system and question the validity of the system the United States currently has. However, I believe that progressive taxation is the best system for the majority of society.
The progressive taxation system is most evident in the income taxes; the tax is levied at a rate that increases as the quantity of income increases. This system was devised to collect a greater proportion of tax revenue from wealthy people reflecting the ability-to-pay principle. Usually, progressive taxes are the stabilizing force in periods of inflation or recession because the amount of tax revenue changes more than proportionately with the increase or decrease in income.
In an economy where the prices and incomes are rising, the dollar value of tax credits and allowances remain constant. However, as individual income increases, the taxpayer is moved into a higher tax bracket. This means that a greater percentage of their income goes toward taxes. At the same time, the government s tax revenues rise. What does this mean? Simple put, the higher the taxpayer s income, the more money given to the government to spend on programs and strengthen the overall economy. By either reducing tax rates or increasing spending, the government can stimulate or restrain private demand.
There are negative effects to progressive taxation. During inflation, it can actually hurt the people that this system is trying to help by shifting the tax burden to the less able and increasing the power of the government to control the economy. There is no real solution to this. Also, many believe that this type of taxation is punishing the rich for working and earning their money. This may be true to one extent, but a fixed rate for all people will cause more harm than good. Also, the taxpayers on the lower end of the scale pay the recessive taxes that are involved in the American system. So the rich may pay more income tax, the poor equal it out with the recessive taxes. In this system, the taxpayers end up paying for what they use.
Progressive taxation is not a perfect plan. However, under the limits and restrictions that lawmakers have applied to this system, progressive taxation helps the whole society. The proposed tax cut in Bush s plan is more of a tax shift. It will provide tax relieve for the rich and cause the recessive taxes to be increased. This will only mean that the lower end of the tax bracket will be paying the difference. Hopefully lawmakers will see that the Bush s tax cut plan should not be passed and allow for the progressive taxation system to work.
The progressive taxation system is most evident in the income taxes; the tax is levied at a rate that increases as the quantity of income increases. This system was devised to collect a greater proportion of tax revenue from wealthy people reflecting the ability-to-pay principle. Usually, progressive taxes are the stabilizing force in periods of inflation or recession because the amount of tax revenue changes more than proportionately with the increase or decrease in income.
In an economy where the prices and incomes are rising, the dollar value of tax credits and allowances remain constant. However, as individual income increases, the taxpayer is moved into a higher tax bracket. This means that a greater percentage of their income goes toward taxes. At the same time, the government s tax revenues rise. What does this mean? Simple put, the higher the taxpayer s income, the more money given to the government to spend on programs and strengthen the overall economy. By either reducing tax rates or increasing spending, the government can stimulate or restrain private demand.
There are negative effects to progressive taxation. During inflation, it can actually hurt the people that this system is trying to help by shifting the tax burden to the less able and increasing the power of the government to control the economy. There is no real solution to this. Also, many believe that this type of taxation is punishing the rich for working and earning their money. This may be true to one extent, but a fixed rate for all people will cause more harm than good. Also, the taxpayers on the lower end of the scale pay the recessive taxes that are involved in the American system. So the rich may pay more income tax, the poor equal it out with the recessive taxes. In this system, the taxpayers end up paying for what they use.
Progressive taxation is not a perfect plan. However, under the limits and restrictions that lawmakers have applied to this system, progressive taxation helps the whole society. The proposed tax cut in Bush s plan is more of a tax shift. It will provide tax relieve for the rich and cause the recessive taxes to be increased. This will only mean that the lower end of the tax bracket will be paying the difference. Hopefully lawmakers will see that the Bush s tax cut plan should not be passed and allow for the progressive taxation system to work.
Tuesday, November 11, 2008
Tips in Business Finance Management
In putting up any kind of business, the end goals are primarily profitability and progress. Magnifying your money is the target endpoint. To be able to do such, you ought to focus on a very important aspect of your business- Business Finance Management. Below are some tips that you can follow not just to ensure the sustainability of your company, but to probably maximize its potentials.
1. Raise Money- Lots and lots of it. Businesses need more than sufficient funding. They need funds for the expected expenses, more funds for unexpected problems, and reserved funds for possible beneficial ventures. As such, when you are attempting to look for funds and possible investors, maximize the opportunity. Prepare big time but feasible business propositions. When opportunities for investment and profit knock on your doors, take chances and welcome the chance. However, you ought to grab the risks only after you have carefully examined the possible consequences of your business venture.
2. Acquisition is not always the answer. During business ventures, there is always plenty of room for additional expenses. Your first budget allocation for a certain expense may not be enough. You may need additional equipment and materials that require you to make unexpected expenditures. In such cases, note that buying what you need is not the only option. Look for alternatives such as renting or leasing the equipment you need. However, do take note of the rental or leasing fee versus the acquisition expenses, in accordance to your time frame for equipment usage.
3. Inform the concerned. In business ventures, you ought to keep pertinent parties aware of whatever is happening in your business. Pertinent parties refer to those who will be affected by the profitability or fund inadequacy in your business. These parties include your bank, your investors, your suppliers, your customers, and even your inland revenue representative. Realize that keeping them informed maintains good business relationships. It may also heighten their concern for your business needs such as additional funds and/or more profitable business deals.
4. Welcome Renegotiations. There are some cases when your investors, suppliers, and customers ask you for renegotiations on your transactions. Be open for such possibilities and options. Avoid limiting yourself to uniform business deals. Recognize that suggestions made by the people you are working with are worth your attention. This will not only help you maintain good business relations with them. Instead, it can open your doors to business opportunities which may prove to be beneficial in the long run.
5. Stick to strict payment and debt procedures. Renegotiation starts and ends with business deals. They should not extend to your payment procedures and debt accountability. When allowing your customers to go on credit, do a thorough financial check first. Set clear procedures for payment and be sure to follow them, without exceptions. You should also set a specific deadline for each debt. Realize that a service or product on credit is a potential loss for your business finances.
6. List everything. This may be a tedious task but such may prove to be very beneficial for you in the end. Realize that no matter how big or small your business deals are, all of these mirror how you manage your finances and all of these affect the overall outcome of your business venture. As such, you ought to practice proper bookkeeping and accounting.
Monday, November 10, 2008
Click your Financial Plan
But while your records are still organized and your computer's still on, why not look beyond that refund to your financial future?
Using do-it-yourself online financial tools, planning ahead is easier and more convenient than you may think.
"The purpose of creating a financial plan is to define what you hope to achieve in terms of financial success," says Peter J. Rossi, director of financial planning for NetBank. "If you take the time to write down what you want to achieve, you're much more likely to achieve it."
For NetBank customers, it's as easy as clicking on your mouse.
The bank's online interactive planning tools include an Express Planner that provides an overview of the customer's current finances; plans for specific goals, like retirement, education and insurance; and a Comprehensive Planner that integrates all the others for setting multiple goals.
In addition, the bank offers access to brokerage services and other investment and insurance products.
Dedicated financial advisers are available to help analyze the plan, answer any questions and help put the plan into action.
Financial planning isn't just for people with excess wealth. Financial planners recommend that everyone have a plan in place for their financial future.
The experts at NetBank recommend taking control of spending by tracking expenses over two to three months. After you get a clear idea of your expenses, develop a plan to spend less and save more.
For instance, you could consolidate your high-interest debt by refinancing your home or getting a home equity credit line.
They also suggest reviewing the asset allocation in your investment portfolio to confirm that it's in alignment with your goals. And make sure your insurance coverage is enough for your financial position.
Using do-it-yourself online financial tools, planning ahead is easier and more convenient than you may think.
"The purpose of creating a financial plan is to define what you hope to achieve in terms of financial success," says Peter J. Rossi, director of financial planning for NetBank. "If you take the time to write down what you want to achieve, you're much more likely to achieve it."
For NetBank customers, it's as easy as clicking on your mouse.
The bank's online interactive planning tools include an Express Planner that provides an overview of the customer's current finances; plans for specific goals, like retirement, education and insurance; and a Comprehensive Planner that integrates all the others for setting multiple goals.
In addition, the bank offers access to brokerage services and other investment and insurance products.
Dedicated financial advisers are available to help analyze the plan, answer any questions and help put the plan into action.
Financial planning isn't just for people with excess wealth. Financial planners recommend that everyone have a plan in place for their financial future.
The experts at NetBank recommend taking control of spending by tracking expenses over two to three months. After you get a clear idea of your expenses, develop a plan to spend less and save more.
For instance, you could consolidate your high-interest debt by refinancing your home or getting a home equity credit line.
They also suggest reviewing the asset allocation in your investment portfolio to confirm that it's in alignment with your goals. And make sure your insurance coverage is enough for your financial position.
Planning for a Secured Financial Future
Everybody aspires for a secure future and building a balanced financial plan is one good way for preparing for it. The uncertainty of your finances is needling, and there are several factors to be considered, some of these are way beyond your ken. But you can do something to prevent losses and increase your financial resources. Preparing a balanced plan is the best way to set up your financial future.
What is Financial Plan?
It is a structured blueprint to manage your cash flow. This also includes planning for your education, retirement, tax payments, estate and business planning and other specific long-term or short-term goals.
Risk management of the plan is incorporated into the entire strategy and a financial planner is the best person to help you map out a financial plan. Unfortunately, some financial plans do not work out.
Without a specialist's assistance, you can expect your plan to pack up. But if you're decided to do it on your own, make a realistic plan. Making the personal finance plan is like preparing your household budget. Stick to the plan and you're on your way to a secure future or achieve your goal.
Who Needs Financial Planning?
Everybody with a regular and stable income needs financial planning. Salaried workers are the best candidates for such planning, considering that someday they are going to retire and live on their retirement plan. If nothing has been done to prepare one's retirement plan, the future is bleak and fraught with financial uncertainties.
Government employees and those employed in the private sector should consider the advantages of having a personal finance plan. If employment is their only means of financial stability in the present, the more they should consult a financial planning specialist to help them set out realistic parameters to ensure the success of the blueprint.
People who do not know how to manage their money properly are the ideal candidates for financial planning. The plan would help them know where there is money is going and how much is coming in. This will help them become aware of their finances and encourage them to look for investment opportunities.
Saving and Investing
Before you finalize your financial plan can, determine sources of revenues--paychecks, DSS and pension benefits, investment earnings, unemployment checks, and child support or alimony. Add this all up to determine the total amount you get monthly. If you are unemployed but earn irregular income, arrive at a minimum monthly average.
The next step in your financial planning is to add up your regular expenses--food, rent, utilities, transportation, entertainment, clothing, and medication if you have a medical problem. The next step is to calculate how much you can put towards your investment, retirement, educational or tax plan.
What is Financial Plan?
It is a structured blueprint to manage your cash flow. This also includes planning for your education, retirement, tax payments, estate and business planning and other specific long-term or short-term goals.
Risk management of the plan is incorporated into the entire strategy and a financial planner is the best person to help you map out a financial plan. Unfortunately, some financial plans do not work out.
Without a specialist's assistance, you can expect your plan to pack up. But if you're decided to do it on your own, make a realistic plan. Making the personal finance plan is like preparing your household budget. Stick to the plan and you're on your way to a secure future or achieve your goal.
Who Needs Financial Planning?
Everybody with a regular and stable income needs financial planning. Salaried workers are the best candidates for such planning, considering that someday they are going to retire and live on their retirement plan. If nothing has been done to prepare one's retirement plan, the future is bleak and fraught with financial uncertainties.
Government employees and those employed in the private sector should consider the advantages of having a personal finance plan. If employment is their only means of financial stability in the present, the more they should consult a financial planning specialist to help them set out realistic parameters to ensure the success of the blueprint.
People who do not know how to manage their money properly are the ideal candidates for financial planning. The plan would help them know where there is money is going and how much is coming in. This will help them become aware of their finances and encourage them to look for investment opportunities.
Saving and Investing
Before you finalize your financial plan can, determine sources of revenues--paychecks, DSS and pension benefits, investment earnings, unemployment checks, and child support or alimony. Add this all up to determine the total amount you get monthly. If you are unemployed but earn irregular income, arrive at a minimum monthly average.
The next step in your financial planning is to add up your regular expenses--food, rent, utilities, transportation, entertainment, clothing, and medication if you have a medical problem. The next step is to calculate how much you can put towards your investment, retirement, educational or tax plan.
Wednesday, November 5, 2008
Features of Online Personal Finance Software
As the Internet has exploded, many people have begun to rely on computers to assist with budgeting. Online personal finance is a multi-billion per year industry. Initially it was popular in helping small businesses with budgeting and tax concerns, but as the computer has become ubiquitous in American homes, average people have begun to regard the computer as indispensible to their personal finance needs.
One of the first, and most attractive, ways that online personal finance tools can help the average person is through automated bill pay. This is a very busy time for the average person who is working more than ever, has a family to attend to, and the many other stresses of day to day life. Automated bill pay is quite simple. The online personal finance software links a person's checking account to their various monthly expenses. It even allows for a person to specify when they would like the bills to be paid. This makes things much easier as this ensures the account is never overdrawn. Most automated payments are made after payday. This can be done for fixed expenses such as Internet or cable TV. Variable expenses can be paid in full or with a specified amount. It not only makes sure that all of the bills are paid and nothing slips through the cracks, resulting in late fees. It also guarantees that the bills are paid before any irresponsible spending takes place. One of the goals of finance is to ensure that a person lives within their means. If all of the bills are paid before any money can be spent this becomes a much more reasonable goal. Certainly there sometimes need to be other changes to one's spending habits that need to be made, but it's an important first step.
Another helpful feature of online personal finance is the built in tax software. Not everyone has very complex taxes. Obviously some people don't have a family and don't have a house or any investments. These people's taxes are quite simple to deal with. However most people that are looking to do some budgeting have more complex situations. Real estate is a great investment for the tax breaks it gives. Having online personal finance software saves money by avoiding having to go to a tax professional and ensures there aren't any mistakes or missed deductions. When people are using online personal finance software to remedy their bad habits, they often overlook tax considerations. Back taxes are often particularly difficult to deal with and online personal finance software can help in this regard. The larger one's family is or the greater the number of investments someone has, the more likely it is that they have tricky taxes and need finance software.
Achieve Incredible Wealth
Most people want to know the first step in acquiring massive riches. They want the shiny things in life and they want to know how they can get them. We seem to have such a yearning for material things, that we forget that those things are just rewards. Nothing more and nothing less. The way we achieve these things in our lives is simple. One word is all it takes. Love.
To love your fellow man inspires you to use your talents to benefit the world. To love your work, means to follow your passion and to know that your rewards will come in due time. To love your family means to spend quality time with them and to do the things you need to do in order to provide them with the things they need.
The real path to wealth is not through any book or DVD or self help program. It is simply to love yourself and the people of this world enough to strive to accomplish big things. Two of the world's wealthiest men, Bill Gates and Warren Buffet, have pledged most of their fortune to support world causes. These men know the true meaning of wealth because they have achieved it and they know that it is merely a reward for thinking big and in turn taking big actions.
Incredible wealth is multi-dimensional. It incorporates more than just dollars and cents. It is simply well-being. To be fulfilled financially, spiritually, and emotionally. This is the true wealth that we are all seeking and therefore it all starts within ourselves and the love we have to give.
The bigger the picture that you can see inside of your mind will help you to realize that the world is just one big playground, meant for all of us to enjoy. You can achieve the results you want by focusing on yourself and in doing so you can create the strength that you need to give back to the world around you.
Monday, November 3, 2008
Financing Your New Look:
So you're considering having some cosmetic surgery done, but your insurance won't cover it and you don't have the money to pay for it up front. Believe it or not, there is a way to finance that tummy tuck or eye lift.
What to Consider
The Cost
Cosmetic surgery is expensive. Procedures cost anywhere from $500-$25,000 depending on the type of procedure being performed. Financing your surgery will only add more to that cost due to interest rates.
As with any type of financing, your interest rate will vary based on your credit history, selected loan term and the loan amount. Available loan terms may include 12, 24, 36 and 48 months or a revolving credit line depending on your credit background. Keep in mind: If it sounds too good to be true, it probably is. Be skeptical of financing companies offering 1% rates, because there is usually a hidden cost behind these offers.
Also keep in mind that you may need to come up with a down payment in order to finance your surgery. Down payment requirements are determined based on your credit history and your health care providers requirements, if any. If you have average or above average credit, you may not be required to put any money down.
As with any type of financing, whether it be a car, a home, or even cosmetic surgery, you should take into account what your current financial situation looks like and determine whether or not you can afford a regular monthly payment for the next 24, 36, 48 or 60 months.
If you have not already done so, figure out your monthly income subtracted by your bills, don't forget to include miscellaneous items such as groceries, toiletries, gas, household products, pet food, etc. After you have created a monthly budget, you can now determine whether or not you can afford another $100-$200 monthly payment.
The Procedure
Before you begin to get all excited about the prospect of financing your new look, it's important to understand why you want to have this kind of procedure done. Make sure your expectations are realistic and that you are doing this because you believe there are no other options. Consider both the pros and cons of cosmetic surgery and weigh your other options.
A good rule of thumb for financing cosmetic surgery is to finance only major surgical procedures. If you're considering Botox, for instance, the prices are reasonable enough, but if you're financing the injection(s), it will cost you more than it's worth.
You should also keep in mind that most types of cosmetic surgery need to be maintained on a regular basis, and fighting the aging process completely is futile.
Finding a Surgeon
Although a cosmetic financing company can refer you to a surgeon, it's best to find one before you contact a financing company. Dr. Steve Fallek, a cosmetic and reconstructive plastic surgeon in New York and Englewood, NJ suggests that a financing company is not going to be able to give you the best plastic surgeon.
You want to go to a board-certified cosmetic surgeon who is reputable, honest and who hopefully you've gotten the name from someone who has had plastic surgery from that person. Fallek says patients should ask their surgeon to recommend a finance company.
Financing Companies
Before you chose a financing company, make sure they are reputable. They should have a good track record in financing health care procedures and should work with a network of doctors.
If you have found a surgeon to do your procedure, you may also ask if he/she has financing available. The terms of the financing should be clearly outlined in writing before you apply for any financing, and you should never pay a broker fee.
Most surgeons use the same financing companies, so don't waste your time looking for surgeons who may have lower rates. Seeing different surgeons takes up time and money.
You may also want to consider using your credit card if the interest rate is lower. Some people also borrow from family or even take out a home equity loan.
The Decision is Made
If you have now decided that you can afford to finance your cosmetic surgery, research your procedure online to find out the benefits and risks. You may also want to discuss your surgery options with your primary physician who may also provide you with a list of surgeons and payment options.
What to Consider
The Cost
Cosmetic surgery is expensive. Procedures cost anywhere from $500-$25,000 depending on the type of procedure being performed. Financing your surgery will only add more to that cost due to interest rates.
As with any type of financing, your interest rate will vary based on your credit history, selected loan term and the loan amount. Available loan terms may include 12, 24, 36 and 48 months or a revolving credit line depending on your credit background. Keep in mind: If it sounds too good to be true, it probably is. Be skeptical of financing companies offering 1% rates, because there is usually a hidden cost behind these offers.
Also keep in mind that you may need to come up with a down payment in order to finance your surgery. Down payment requirements are determined based on your credit history and your health care providers requirements, if any. If you have average or above average credit, you may not be required to put any money down.
As with any type of financing, whether it be a car, a home, or even cosmetic surgery, you should take into account what your current financial situation looks like and determine whether or not you can afford a regular monthly payment for the next 24, 36, 48 or 60 months.
If you have not already done so, figure out your monthly income subtracted by your bills, don't forget to include miscellaneous items such as groceries, toiletries, gas, household products, pet food, etc. After you have created a monthly budget, you can now determine whether or not you can afford another $100-$200 monthly payment.
The Procedure
Before you begin to get all excited about the prospect of financing your new look, it's important to understand why you want to have this kind of procedure done. Make sure your expectations are realistic and that you are doing this because you believe there are no other options. Consider both the pros and cons of cosmetic surgery and weigh your other options.
A good rule of thumb for financing cosmetic surgery is to finance only major surgical procedures. If you're considering Botox, for instance, the prices are reasonable enough, but if you're financing the injection(s), it will cost you more than it's worth.
You should also keep in mind that most types of cosmetic surgery need to be maintained on a regular basis, and fighting the aging process completely is futile.
Finding a Surgeon
Although a cosmetic financing company can refer you to a surgeon, it's best to find one before you contact a financing company. Dr. Steve Fallek, a cosmetic and reconstructive plastic surgeon in New York and Englewood, NJ suggests that a financing company is not going to be able to give you the best plastic surgeon.
You want to go to a board-certified cosmetic surgeon who is reputable, honest and who hopefully you've gotten the name from someone who has had plastic surgery from that person. Fallek says patients should ask their surgeon to recommend a finance company.
Financing Companies
Before you chose a financing company, make sure they are reputable. They should have a good track record in financing health care procedures and should work with a network of doctors.
If you have found a surgeon to do your procedure, you may also ask if he/she has financing available. The terms of the financing should be clearly outlined in writing before you apply for any financing, and you should never pay a broker fee.
Most surgeons use the same financing companies, so don't waste your time looking for surgeons who may have lower rates. Seeing different surgeons takes up time and money.
You may also want to consider using your credit card if the interest rate is lower. Some people also borrow from family or even take out a home equity loan.
The Decision is Made
If you have now decided that you can afford to finance your cosmetic surgery, research your procedure online to find out the benefits and risks. You may also want to discuss your surgery options with your primary physician who may also provide you with a list of surgeons and payment options.
Friday, October 31, 2008
Financing and Investing to Buy a Business
When obtaining a business opportunity loan, borrowers will discover that many lenders simply do not provide business loans that do not include real estate as part of the business purchase. There are several other important business financing issues to analyze prior to buying a business without commercial property.
Interest in buying business opportunity investments has improved because of serious problems with residential real estate. However, because there are so many critical differences between financing residential real estate and business financing, it is important for potential business owners to educate themselves before proceeding.
In order to buy a business, a commercial borrower is likely to need business financing. If the business includes commercial real estate, the borrower will need a commercial mortgage. If the business purchase does not involve real estate, a business borrower must use a business opportunity loan.
Unfortunately the availability of business opportunity financing is more restricted than commercial real estate financing. There are also some potential limitations and problems unique to a business opportunity loan, and commercial borrowers should make every effort to avoid these business financing difficulties.
Our goal here is to focus on several financing issues that you should anticipate when commercial real estate is not part of the business purchase. Our suggested approach to business opportunity financing is provided below.
Begin your business opportunity investment financing plans by formulating a realistic assessment of cash available for a down payment and desired maximum business purchase price. A down payment of about 25% is suggested for most business financing situations described here. Usually seller financing is permissible for a portion of the down payment, but a potential buyer generally needs to plan on investing at least 10% of the purchase price from their own funds even if the seller is providing 15% or more.
Because Small Business Administration loans are essential for this kind of financing, you should explore whether you will in fact be able to qualify for these specialized business loans. This step is both important and somewhat complicated, and the involvement of an SBA loan expert is strongly advised. Among the issues to explore are whether collateral is available for SBA financing and how important refinancing is to your overall business opportunity financing process.
It is important to consider the lease terms which are possible. As noted previously, business opportunity financing and investing does not involve the purchase of commercial real estate, so arrangements must be made for a long-term lease. A ten-year maximum loan term is likely, and a shorter financing term will probably be required if the length of the lease is for less than ten years. In other words, with a seven-year lease, the commercial loan is likely to be for seven years, and even with a fifteen-year lease, the commercial financing will probably expire in ten years.
When buying a business, inquire about the possibility of including commercial real estate. With the inclusion of commercial property, you can obtain a longer business loan and the interest rate will be lower. Because the absence of a commercial mortgage can actually be an advantage, the improved terms possible by including real estate should not be looked at in isolation.
Before any offers are made to buy a business investment, borrowers should discuss their financing options with an expert for business opportunity loans. These discussions should include issues such as potential purchase price, down payment possibilities, seller financing, buyer credit scores, tax return requirements and collateral options.
Interest in buying business opportunity investments has improved because of serious problems with residential real estate. However, because there are so many critical differences between financing residential real estate and business financing, it is important for potential business owners to educate themselves before proceeding.
In order to buy a business, a commercial borrower is likely to need business financing. If the business includes commercial real estate, the borrower will need a commercial mortgage. If the business purchase does not involve real estate, a business borrower must use a business opportunity loan.
Unfortunately the availability of business opportunity financing is more restricted than commercial real estate financing. There are also some potential limitations and problems unique to a business opportunity loan, and commercial borrowers should make every effort to avoid these business financing difficulties.
Our goal here is to focus on several financing issues that you should anticipate when commercial real estate is not part of the business purchase. Our suggested approach to business opportunity financing is provided below.
Begin your business opportunity investment financing plans by formulating a realistic assessment of cash available for a down payment and desired maximum business purchase price. A down payment of about 25% is suggested for most business financing situations described here. Usually seller financing is permissible for a portion of the down payment, but a potential buyer generally needs to plan on investing at least 10% of the purchase price from their own funds even if the seller is providing 15% or more.
Because Small Business Administration loans are essential for this kind of financing, you should explore whether you will in fact be able to qualify for these specialized business loans. This step is both important and somewhat complicated, and the involvement of an SBA loan expert is strongly advised. Among the issues to explore are whether collateral is available for SBA financing and how important refinancing is to your overall business opportunity financing process.
It is important to consider the lease terms which are possible. As noted previously, business opportunity financing and investing does not involve the purchase of commercial real estate, so arrangements must be made for a long-term lease. A ten-year maximum loan term is likely, and a shorter financing term will probably be required if the length of the lease is for less than ten years. In other words, with a seven-year lease, the commercial loan is likely to be for seven years, and even with a fifteen-year lease, the commercial financing will probably expire in ten years.
When buying a business, inquire about the possibility of including commercial real estate. With the inclusion of commercial property, you can obtain a longer business loan and the interest rate will be lower. Because the absence of a commercial mortgage can actually be an advantage, the improved terms possible by including real estate should not be looked at in isolation.
Before any offers are made to buy a business investment, borrowers should discuss their financing options with an expert for business opportunity loans. These discussions should include issues such as potential purchase price, down payment possibilities, seller financing, buyer credit scores, tax return requirements and collateral options.
Tuesday, October 28, 2008
How Fundraising can help you
With increasing social awareness for self-help groups and third sectors’ activities as Non-Governmental Organizations, fundraising is a growing concern. However the idea of fundraising is not a new one. Fundraising for social and religious causes has been a tradition from early days of modern society.
Fundraising is the practice for imploring and assembling monetary assets or other material gifts from individuals or organizations by a way of earnest request for various charitable, social, religious or even political causes. There are innumerable possible methods to go about it. One example is a very old tradition of selling candies or other handicrafts during Halloween by children to raise funds. Some most popular modern methods are cards fundraising, magazine fundraising and lollipop fundraising.
There are various fundraisers who practice regular fundraising schemes to meet their specific necessities. Different religious organizations operate as fundraisers at local, national and even global platform for charitable and evangelic causes. Political organizations also appear as fundraisers for political campaigns to promote or demote candidates. Political organizations also arrange schemes for charitable and social causes as a tool for image building.
Different individuals, NGOs, community groups, local organizations operate fundraising programs for local and social causes. These programs can be arranged by anyone who has a solid cause to raise funds and who has the ground to appeal to others for help. With the increasing necessity for fundraising, various professional organizations have come up to help people with good causes. These professional fundraisers generally do not charge anything initially. First, they help you with their large business network and products. With their support you can successfully start generating high amounts of profit. Once you make gains they will charge you a percentage or commission for their services.
Professional fundraising organizations can help you to invent new ideas, and implement those in a larger way which will help magnify your cause hundreds times over. These organizations provide many services as online fundraising, school fundraising, church fundraising, college fundraising and more. With its high success rate, this has become a major tool for marketing and relationship building. Specific products have become key reasons for corporate houses to collaborate with fundraising schemes and fundraisers.
In fundraising cards, there can be options like custom discount cards, local favorite’s cards, pizza fundraising cards, sandwich fundraising cards and many more. It works in a simple manner. For example, you can tie up with one local popular business and create local favorite cards. These cards will offer an attractive amount of discount on purchases from that retail house or on a particular product. By selling this card in a low price in your locality you may raise funds for your own cause.
Online fundraising programs work in a similar fashion. It includes magazine fundraising, credit card fundraising, even pay per click options. Online programs are more convenient, hassle free and fast. Fund raising ideas can range from books, calendar, scented candles, brochure, foods and candies, handicrafts, CDs or DVDs, first aid kits, giftware, clothes, and accessories – an unending list. You may also arrange donor recognition schemes in collaboration with popular or local business houses. The options are as many as your creative imagination can deploy.
Fundraising is the practice for imploring and assembling monetary assets or other material gifts from individuals or organizations by a way of earnest request for various charitable, social, religious or even political causes. There are innumerable possible methods to go about it. One example is a very old tradition of selling candies or other handicrafts during Halloween by children to raise funds. Some most popular modern methods are cards fundraising, magazine fundraising and lollipop fundraising.
There are various fundraisers who practice regular fundraising schemes to meet their specific necessities. Different religious organizations operate as fundraisers at local, national and even global platform for charitable and evangelic causes. Political organizations also appear as fundraisers for political campaigns to promote or demote candidates. Political organizations also arrange schemes for charitable and social causes as a tool for image building.
Different individuals, NGOs, community groups, local organizations operate fundraising programs for local and social causes. These programs can be arranged by anyone who has a solid cause to raise funds and who has the ground to appeal to others for help. With the increasing necessity for fundraising, various professional organizations have come up to help people with good causes. These professional fundraisers generally do not charge anything initially. First, they help you with their large business network and products. With their support you can successfully start generating high amounts of profit. Once you make gains they will charge you a percentage or commission for their services.
Professional fundraising organizations can help you to invent new ideas, and implement those in a larger way which will help magnify your cause hundreds times over. These organizations provide many services as online fundraising, school fundraising, church fundraising, college fundraising and more. With its high success rate, this has become a major tool for marketing and relationship building. Specific products have become key reasons for corporate houses to collaborate with fundraising schemes and fundraisers.
In fundraising cards, there can be options like custom discount cards, local favorite’s cards, pizza fundraising cards, sandwich fundraising cards and many more. It works in a simple manner. For example, you can tie up with one local popular business and create local favorite cards. These cards will offer an attractive amount of discount on purchases from that retail house or on a particular product. By selling this card in a low price in your locality you may raise funds for your own cause.
Online fundraising programs work in a similar fashion. It includes magazine fundraising, credit card fundraising, even pay per click options. Online programs are more convenient, hassle free and fast. Fund raising ideas can range from books, calendar, scented candles, brochure, foods and candies, handicrafts, CDs or DVDs, first aid kits, giftware, clothes, and accessories – an unending list. You may also arrange donor recognition schemes in collaboration with popular or local business houses. The options are as many as your creative imagination can deploy.
The Best Financing For Your Business
The business credit is one of the most popular form of business loans. The noticeable feature of business credit is that, it is easier to get a business credit than any other forms of business loans. The added advantage of the business credit is that they are available even for businesses that have not been in business for a long time.
A business line of credit can be used for short term cash flow management, to make special or seasonal purchases, to re-stock inventory or supplies or for just about any other reason that can satisfy the banks demand for its usefulness to the business. A business line of credit is not normally made available to pay for salaries or bonuses to the employees of a business or to repay creditors from other banking arrangements. The business credit comes in handy for small businesses that are in the starting line up. These business credits help the businessmen to expand their business in to a huge enterprise in the future.
There are several ways today to get the business credit. The common method is to approach a bank or credit union where you already do your business banking. They know you, not just from seeing your face as you make deposits or withdrawals but they also know your personal credit history and this becomes an important factor in granting a business line of credit. Banks are most comfortable lending money to customers that they already know than the off the street business. This will help you not only get the business line of credit that your business may need but also help you get the best possible interest rate for your hard earned business dollar.
Some firms like ‘the New Way Group’ provide short term and long term financing solutions to small business entrepreneurs. Regardless the type or size of the business, getting a business credit is made much easier through these firms. Unlike these firms who do not claim many documents for granting a business credit, a bank usually requires a business to have been in operation for a minimum of two years before granting a business line of credit. That is because the likelihood of a business failing within the first two years is far greater than at any period in its term of operation. Once a business passes this threshold a bank is much more likely to consider a business as a candidate for loans or lines of credit.
Having a small business can be a challenge, especially I a long run, when it comes to having enough money to suit your needs. But having a business credit can greatly help you and your business get off to the start they deserve.
Thursday, October 23, 2008
Your Financial Future
Offering tips for retirement planning can open up a touchy subject. While some couples have been preparing for retirement their entire adult lives, others have barely thought about it. Neither end of this preparation spectrum is unusual, but it is clear that the former mind set will leave you feeling much more comfortable with your future. When it comes to planning retirement, a few tips might be just what you need to get a jump start. You might be working hard now, but that only means that you'll appreciate retirement all the more.
Beginning With Baby Steps
Following tips and advice for retirement planning does not mean that you have to sit down and draw up an extensive financial plan. Nobody expects you to be nearly this prepared! However, there are a few baby steps that you can take to make your future brighter. With each retirement planning tip you follow, you will see your future growing brighter and brighter.
The first step to retirement planning is making a few predictions. Nobody expects you to give an exact date of retirement, but it can be helpful to have a goal or an idea in your head. Having this target date will only make you work harder toward your goal. Next, estimate how much more money you will need to accumulate by this date. There are several on line tools that make this very easy.
The next tip for retirement planning is to investigate your options. You should be aware of what your basic Social Security benefits are-if you're not, you can easily find out by examining the Social Security statement that arrives around the time of your birthday.
Also, check with your boss to see if a retirement plan is offered through your place of employment; if not, ask about how you might start one. Talk with your tax adviser about IRA options, and seek general advice from a professional financial planner. The more information you know and the more questions you ask, the more prepared you will be for retirement.
Keep Your Common Sense
Much of retirement planning involves common sense, not tips and guidelines. For example, as you grow older, try to leave your savings alone for the most part. Try keeping a long term savings account for retirement only, and a separate short term savings account for emergencies. You will be sure to appreciate this money upon retirement.
Another piece of advice is to not fall for investment scams. These ploys for money get people every time-but they don't have to get you. Use your common sense when looking into any type of investment, and if you have suspicions, then you can always contact your Better Business Bureau or Secretary of State.
Changing Locations
Another tip for planning your retirement is to consider what your future living situation might be. Many retired elderly couples wait until they can no longer go up and down the stairs of their homes before they decide to move into a more manageable home. If you plan this move before hand, you will be sure to have more options, and perhaps even make a profit ff of your current house!
Investigating the cost of living in various cities and retirement communities can also prove to be beneficial during retirement planning. It might even be another way for you to save money. If you consider your living situation when you still have control of it, you will have many more options available to you.
Ready To Retire!
Planning for your retirement might seem very intimidating, but taking the time to think about it now will ensure that you are better off in the long run. A few baby steps in the right direction won't hurt you-only ensure that your retirement will be all the better!
Beginning With Baby Steps
Following tips and advice for retirement planning does not mean that you have to sit down and draw up an extensive financial plan. Nobody expects you to be nearly this prepared! However, there are a few baby steps that you can take to make your future brighter. With each retirement planning tip you follow, you will see your future growing brighter and brighter.
The first step to retirement planning is making a few predictions. Nobody expects you to give an exact date of retirement, but it can be helpful to have a goal or an idea in your head. Having this target date will only make you work harder toward your goal. Next, estimate how much more money you will need to accumulate by this date. There are several on line tools that make this very easy.
The next tip for retirement planning is to investigate your options. You should be aware of what your basic Social Security benefits are-if you're not, you can easily find out by examining the Social Security statement that arrives around the time of your birthday.
Also, check with your boss to see if a retirement plan is offered through your place of employment; if not, ask about how you might start one. Talk with your tax adviser about IRA options, and seek general advice from a professional financial planner. The more information you know and the more questions you ask, the more prepared you will be for retirement.
Keep Your Common Sense
Much of retirement planning involves common sense, not tips and guidelines. For example, as you grow older, try to leave your savings alone for the most part. Try keeping a long term savings account for retirement only, and a separate short term savings account for emergencies. You will be sure to appreciate this money upon retirement.
Another piece of advice is to not fall for investment scams. These ploys for money get people every time-but they don't have to get you. Use your common sense when looking into any type of investment, and if you have suspicions, then you can always contact your Better Business Bureau or Secretary of State.
Changing Locations
Another tip for planning your retirement is to consider what your future living situation might be. Many retired elderly couples wait until they can no longer go up and down the stairs of their homes before they decide to move into a more manageable home. If you plan this move before hand, you will be sure to have more options, and perhaps even make a profit ff of your current house!
Investigating the cost of living in various cities and retirement communities can also prove to be beneficial during retirement planning. It might even be another way for you to save money. If you consider your living situation when you still have control of it, you will have many more options available to you.
Ready To Retire!
Planning for your retirement might seem very intimidating, but taking the time to think about it now will ensure that you are better off in the long run. A few baby steps in the right direction won't hurt you-only ensure that your retirement will be all the better!
Monday, October 20, 2008
Corporate Finance
The field of corporate finance deals with the decisions of finance taken by corporations along with the analysis and the tools required for taking such decisions. The principle aim of corporate finance is enhancing the corporate value and at the same time reducing the financial risks of the company. In addition to this, corporate finance also deals in getting the maximum returns on the invested capital of the company. The major concepts of corporate finance are applied to the problems of finance encountered by all type of firms.
The discipline of corporate finance can be split into the short term and the long term techniques of decisions. The investments of capital are the long term decisions relating to the projects and the methods required to finance them. On the other hand, the capital management for working is considered as a short term decision that deals with the short term current liabilities and asset balance. The main focus here rests on the management of inventories, cash and, the lending and borrowing on a short term basis.
Corporate finance is also associated with the field of investment banking. Here, the role of the investment banker is the evaluation of the various projects coming to the bank and making proper investment decisions regarding them.
The Capital Structure:
A proper finance structure is required for achieving the set goals of corporate finance. The management has to therefore design a proper structure that has an optimal mix of the different finance options that are available.
Generally, the sources of finance will comprise of a mix of equity as well as debt. If a project is financed through debt, it results in causing a liability to the concerned company. Hence in such cases, the flow of cash has various implications regardless of the success of the project. The financing done by equity carries a lower risk regarding the commitments of the flow of cash, but the result of this is the dilution of the earnings and the ownership. The cost involved in equity finance is also higher in the case of debt finance. Hence, it is understood that the finance done through equity, offsets the reduction in the risk of cash flow. The management has to hence have a mix of both the options.
The Decisions of Capital Investments:
The decisions of capital investments are the long term decisions of corporate finance that are related to the capital structure and the fixed assets. These decisions are based of several criteria that are inter-related. The management of corporate finance attempts to maximize the firm's value by making investments in the projects that have a positive yield. The finance options for such projects have to be done in a proper manner.
The discipline of corporate finance can be split into the short term and the long term techniques of decisions. The investments of capital are the long term decisions relating to the projects and the methods required to finance them. On the other hand, the capital management for working is considered as a short term decision that deals with the short term current liabilities and asset balance. The main focus here rests on the management of inventories, cash and, the lending and borrowing on a short term basis.
Corporate finance is also associated with the field of investment banking. Here, the role of the investment banker is the evaluation of the various projects coming to the bank and making proper investment decisions regarding them.
The Capital Structure:
A proper finance structure is required for achieving the set goals of corporate finance. The management has to therefore design a proper structure that has an optimal mix of the different finance options that are available.
Generally, the sources of finance will comprise of a mix of equity as well as debt. If a project is financed through debt, it results in causing a liability to the concerned company. Hence in such cases, the flow of cash has various implications regardless of the success of the project. The financing done by equity carries a lower risk regarding the commitments of the flow of cash, but the result of this is the dilution of the earnings and the ownership. The cost involved in equity finance is also higher in the case of debt finance. Hence, it is understood that the finance done through equity, offsets the reduction in the risk of cash flow. The management has to hence have a mix of both the options.
The Decisions of Capital Investments:
The decisions of capital investments are the long term decisions of corporate finance that are related to the capital structure and the fixed assets. These decisions are based of several criteria that are inter-related. The management of corporate finance attempts to maximize the firm's value by making investments in the projects that have a positive yield. The finance options for such projects have to be done in a proper manner.
Car Finance UK
Today car becomes very essential for every human’s life. There are many people who have their own car but many people don’t have a car. They have not enough credit to buy a new branded car so they need car finance to do so. Car finance UK is so simple but it is not simple to get it in cheap interest rates. So that when you search for car finance UK you should try to get financed from that company who can offer you a cheap rate loan. It is necessary to minimize your burden on your finances and repaying ability.
In UK there are various lenders who offer cheap car finance for new and used car. You should try to get various loan quotes from various lenders and have to compare it for cheap rate finance before searching for car finance UK. There are a large numbers of lenders who offers cheap car finance in UK. It is suitable that you should not recognize a lender's propose without comparing the car loan quotes. Before financing a car you need to check all the documents and the deals that are offered by your car financier. It would be your best decision to shop around for the best loan deal.
Many people can not have enough cash or saving to buy a car but they need car also so they wander for finance companies to get their dream car. Some of them get cheap rate finance but some of them pay higher for their finance. So they need to search online for various car finance UK companies. There are a lot of car finance websites available in which they provide various scheme and their other information related to car finance. So don’t wander hither and thither and go online search for best car finance UK.
If you have a bad credit history and you are unable to find car finance company that offer cheap rate finance, you should go online and search a website that can fulfill your need. For guaranteed cheap rate on car finance UK, prefer borrowing it aligned with your esteemed asset like home. So pertain to an online lender for cheap car finance in the UK. But ensure that you have compared well the online financier so that you have a proposal of how cheap rate loan can be getting in the UK.
In UK there are various lenders who offer cheap car finance for new and used car. You should try to get various loan quotes from various lenders and have to compare it for cheap rate finance before searching for car finance UK. There are a large numbers of lenders who offers cheap car finance in UK. It is suitable that you should not recognize a lender's propose without comparing the car loan quotes. Before financing a car you need to check all the documents and the deals that are offered by your car financier. It would be your best decision to shop around for the best loan deal.
Many people can not have enough cash or saving to buy a car but they need car also so they wander for finance companies to get their dream car. Some of them get cheap rate finance but some of them pay higher for their finance. So they need to search online for various car finance UK companies. There are a lot of car finance websites available in which they provide various scheme and their other information related to car finance. So don’t wander hither and thither and go online search for best car finance UK.
If you have a bad credit history and you are unable to find car finance company that offer cheap rate finance, you should go online and search a website that can fulfill your need. For guaranteed cheap rate on car finance UK, prefer borrowing it aligned with your esteemed asset like home. So pertain to an online lender for cheap car finance in the UK. But ensure that you have compared well the online financier so that you have a proposal of how cheap rate loan can be getting in the UK.
Friday, October 17, 2008
Business Loans and Business Finance
With the increasingly chaotic investment climate for residential financing in the United States, more residential real estate investors are exploring commercial property and business finance opportunities. It is important for prospective business owners and investors to educate themselves about options for the business loans and commercial mortgages they will be needing.
Environmental requirements for business finance will be a complex issue for numerous business investments. Environmental issues involved in a business loan will primarily depend upon the commercial lender as well as the type of business. More extensive requirements can impact both the cost and timing for a commercial mortgage loan.
Tax returns and financial statements for a business loan are likely to be a concern for all commercial borrowers. Whereas residential mortgage financing is likely to involve only personal tax returns, most business financing will include a review of business tax returns as well. Business financial statements and personal financial statements will be required for certain kinds of business opportunity financing and commercial real estate financing.
Secondary financing will often be a means of acquiring desired commercial loans. The use of seller financing or secondary financing is a prudent business financing strategy to reduce capital requirements for the borrower. Secondary financing will not be accepted by all commercial lenders.
An unexpected requirement for many commercial loans involves sourcing and seasoning of funds. When purchasing a business, some lenders will require that borrowers document where the down payment is coming from (sourcing) and how long the funds have been in that location (seasoning). If a borrower cannot adequately provide this documentation, the choice of commercial lenders will be more restricted.
Collateral and cross-collateralization for business loans will be an insurmountable obstacle for some commercial borrowers. Collateral requirements for business financing will depend on many factors such as down payment, type of business, credit scores and the type of financing needed. Cross-collateralization refers to lender requirements involving personal collateral such as a home used as collateral for a business loan.
Any requirement for a business plan when obtaining commercial mortgages is likely to be expensive and time-consuming. A business plan is not always required for a business loan, but when one is required this will add significantly to the cost and length of the loan process.
An increasing problem for commercial borrowers seeking refinancing is an unreasonable limitation for getting cash out of the new loan. Commercial lenders differ significantly regarding restrictions imposed on the amount of cash out to the borrower when refinancing. Some lenders will not permit any cash out whatsoever while others will limit cash received by the borrower to a particular amount. The preferred approach is to use a lender that will allow cash to be paid out up to an agreed loan-to-value (frequently 75%).
It is important to to thoroughly analyze business financing lockout penalties. A lockout penalty is much more severe than a prepayment penalty in that such penalties can effectively prevent a commercial borrower from selling or refinancing during a prescribed period (often two to five years).
In addition to the issues noted above, numerous other key business finance and real estate mortgage issues will also be important to evaluate. Commercial mortgage requirements are very different from residential financing requirements in the United States. We have prepared several other business finance overviews addressing additional factors that will be significant for most commercial borrowers. Separate report topics include SBA loan refinancing, business opportunity financing, stated income business loans and commercial appraisals.
Environmental requirements for business finance will be a complex issue for numerous business investments. Environmental issues involved in a business loan will primarily depend upon the commercial lender as well as the type of business. More extensive requirements can impact both the cost and timing for a commercial mortgage loan.
Tax returns and financial statements for a business loan are likely to be a concern for all commercial borrowers. Whereas residential mortgage financing is likely to involve only personal tax returns, most business financing will include a review of business tax returns as well. Business financial statements and personal financial statements will be required for certain kinds of business opportunity financing and commercial real estate financing.
Secondary financing will often be a means of acquiring desired commercial loans. The use of seller financing or secondary financing is a prudent business financing strategy to reduce capital requirements for the borrower. Secondary financing will not be accepted by all commercial lenders.
An unexpected requirement for many commercial loans involves sourcing and seasoning of funds. When purchasing a business, some lenders will require that borrowers document where the down payment is coming from (sourcing) and how long the funds have been in that location (seasoning). If a borrower cannot adequately provide this documentation, the choice of commercial lenders will be more restricted.
Collateral and cross-collateralization for business loans will be an insurmountable obstacle for some commercial borrowers. Collateral requirements for business financing will depend on many factors such as down payment, type of business, credit scores and the type of financing needed. Cross-collateralization refers to lender requirements involving personal collateral such as a home used as collateral for a business loan.
Any requirement for a business plan when obtaining commercial mortgages is likely to be expensive and time-consuming. A business plan is not always required for a business loan, but when one is required this will add significantly to the cost and length of the loan process.
An increasing problem for commercial borrowers seeking refinancing is an unreasonable limitation for getting cash out of the new loan. Commercial lenders differ significantly regarding restrictions imposed on the amount of cash out to the borrower when refinancing. Some lenders will not permit any cash out whatsoever while others will limit cash received by the borrower to a particular amount. The preferred approach is to use a lender that will allow cash to be paid out up to an agreed loan-to-value (frequently 75%).
It is important to to thoroughly analyze business financing lockout penalties. A lockout penalty is much more severe than a prepayment penalty in that such penalties can effectively prevent a commercial borrower from selling or refinancing during a prescribed period (often two to five years).
In addition to the issues noted above, numerous other key business finance and real estate mortgage issues will also be important to evaluate. Commercial mortgage requirements are very different from residential financing requirements in the United States. We have prepared several other business finance overviews addressing additional factors that will be significant for most commercial borrowers. Separate report topics include SBA loan refinancing, business opportunity financing, stated income business loans and commercial appraisals.
Bad Credit Finance Options
You shouldn't worry too much about bad credit finance options, because there are several financing options available regardless of your credit history… some of them charge higher interest rates or require some additional security, but in the end may be just what you're looking for.
Vehicle financing
If you're looking for a bad credit finance for a new or used vehicle, your best option is most likely going to be to visit a finance company as opposed to a traditional bank.
Some finance companies are more likely to offer bad credit finance options for vehicles than others, and the financing will usually depend upon the type of vehicle being financed, where the vehicle is being purchased from, and what sort of insurance and driving record you have.
Other factors that will be taken into consideration include your annual and monthly income, any cosigners that you might have for the loan, and any recommendations or referrals that you might have.
Home financing
Finding someone to offer you a bad credit finance for a house or other real estate can sometimes be tricky, but generally real estate shouldn't be too difficult to finance.
Major factors in getting a mortgage lender to approve you for bad credit finance options include your income, any insurance that you will purchase for the house or real estate, the amount of a down payment that you're willing to offer, and any references of former landlords that you can offer.
Mortgage lenders for bad credit finance loans can be found online, at finance companies, and at some real estate and property management services.
Other financing
Should you be seeking bad credit finance options for other items (such as collectibles or electronics), you might find your search to be a little more difficult.
Vehicle financing
If you're looking for a bad credit finance for a new or used vehicle, your best option is most likely going to be to visit a finance company as opposed to a traditional bank.
Some finance companies are more likely to offer bad credit finance options for vehicles than others, and the financing will usually depend upon the type of vehicle being financed, where the vehicle is being purchased from, and what sort of insurance and driving record you have.
Other factors that will be taken into consideration include your annual and monthly income, any cosigners that you might have for the loan, and any recommendations or referrals that you might have.
Home financing
Finding someone to offer you a bad credit finance for a house or other real estate can sometimes be tricky, but generally real estate shouldn't be too difficult to finance.
Major factors in getting a mortgage lender to approve you for bad credit finance options include your income, any insurance that you will purchase for the house or real estate, the amount of a down payment that you're willing to offer, and any references of former landlords that you can offer.
Mortgage lenders for bad credit finance loans can be found online, at finance companies, and at some real estate and property management services.
Other financing
Should you be seeking bad credit finance options for other items (such as collectibles or electronics), you might find your search to be a little more difficult.
Financing Options for Import Companies
Whether you are starting an import business or have an established importing business, it can be a very profitable venture if you have the right financing to grow your business. Imports are defined as: a good that crosses into a country, across its border, for commercial purposes; a product, which might be a service that is provided to domestic residents by a foreign producer; or a combination of the two.
Starting or running an import business has never been more profitable because of computers, the internet, and the availability of low cost imports from countries such as China and Mexico. These imports may be resold for up to ten times their cost depending on the competition in your field of operations.
It is essential that you have good, honest suppliers plus creditworthy customers with purchase orders for your imports. If you have the right financing, your business can grow exponentially. But how do you finance growth if your own resources or bank lines of credit are not sufficient to take advantage of big opportunities? A combination of purchase order financing, accounts receivable financing with inventory financing may be the solution.
Definitions:
Purchase Order Financing
Purchase Order financing is the assignment of purchase orders to a third party, a commercial finance company, who then assumes the obligation of billing and collecting. Purchase order financing can be used to finance all current and subsequent orders to improve your company’s cash flow. The process works as follows: 1) Your company obtains a purchase order for products to be sold another company; 2) A letter of credit may be issued, based on a finance companies’ credit, to guarantee payment to suppliers or factories producing the goods; 3) The order is shipped, delivered and accepted by your customer; 4) The customer receives an invoice for the goods; 5) The Purchase Order Company pays the supplier/factory; 6) a commercial finance company or Accounts Receivable Finance Company pays the Purchase Order Financing Company after the products are delivered to your customer; 7) The customer pays the commercial finance company for goods received; 8) The accounts are settled and the profit is paid to you.
Accounts Receivable Financing
Accounts Receivable Financing is the selling or pledging of your company's account receivable, at a discount, to a Factor, a Commercial Finance Company or to an Accounts Receivable Financing Company who may assume a risk of loss. You receive a portion, usually 80% to 90% of the face value of your receivables in advance of payment from your customers in return for a fee, or interest, to be paid to the commercial finance company. When the commercial finance company is paid by the customer, the appropriate fees are deducted and the remainder is rebated to you. “Accounts receivable financing” is also called accounts receivable factoring, factoring financial services, invoice factoring and cash flow factoring. The terms are used to convey the same meaning.
Inventory Financing
Inventory financing is a loan secured by the inventory of your business. Inventory finance enables import companies to hold more stock without cash flow strain and to generate more sales. Inventory finance is often part of a Purchase Order and Accounts Receivable Financing commercial finance package.
These three types of financing can enable an import business to increase purchasing capabilities dramatically; you can accept larger orders and grow your business exponentially. You can use your inventory to leverage your purchasing power. You can use your customer’s credit to obtain these three types of financing; and you can use the commercial finance company’s credit to obtain a letter of credit.
The concept of financing your import company with “other people’s money” is part of a safe and sound business plan. Add strong product quality controls, inventory controls, and good accounting to maximize the success of your import company.
Starting or running an import business has never been more profitable because of computers, the internet, and the availability of low cost imports from countries such as China and Mexico. These imports may be resold for up to ten times their cost depending on the competition in your field of operations.
It is essential that you have good, honest suppliers plus creditworthy customers with purchase orders for your imports. If you have the right financing, your business can grow exponentially. But how do you finance growth if your own resources or bank lines of credit are not sufficient to take advantage of big opportunities? A combination of purchase order financing, accounts receivable financing with inventory financing may be the solution.
Definitions:
Purchase Order Financing
Purchase Order financing is the assignment of purchase orders to a third party, a commercial finance company, who then assumes the obligation of billing and collecting. Purchase order financing can be used to finance all current and subsequent orders to improve your company’s cash flow. The process works as follows: 1) Your company obtains a purchase order for products to be sold another company; 2) A letter of credit may be issued, based on a finance companies’ credit, to guarantee payment to suppliers or factories producing the goods; 3) The order is shipped, delivered and accepted by your customer; 4) The customer receives an invoice for the goods; 5) The Purchase Order Company pays the supplier/factory; 6) a commercial finance company or Accounts Receivable Finance Company pays the Purchase Order Financing Company after the products are delivered to your customer; 7) The customer pays the commercial finance company for goods received; 8) The accounts are settled and the profit is paid to you.
Accounts Receivable Financing
Accounts Receivable Financing is the selling or pledging of your company's account receivable, at a discount, to a Factor, a Commercial Finance Company or to an Accounts Receivable Financing Company who may assume a risk of loss. You receive a portion, usually 80% to 90% of the face value of your receivables in advance of payment from your customers in return for a fee, or interest, to be paid to the commercial finance company. When the commercial finance company is paid by the customer, the appropriate fees are deducted and the remainder is rebated to you. “Accounts receivable financing” is also called accounts receivable factoring, factoring financial services, invoice factoring and cash flow factoring. The terms are used to convey the same meaning.
Inventory Financing
Inventory financing is a loan secured by the inventory of your business. Inventory finance enables import companies to hold more stock without cash flow strain and to generate more sales. Inventory finance is often part of a Purchase Order and Accounts Receivable Financing commercial finance package.
These three types of financing can enable an import business to increase purchasing capabilities dramatically; you can accept larger orders and grow your business exponentially. You can use your inventory to leverage your purchasing power. You can use your customer’s credit to obtain these three types of financing; and you can use the commercial finance company’s credit to obtain a letter of credit.
The concept of financing your import company with “other people’s money” is part of a safe and sound business plan. Add strong product quality controls, inventory controls, and good accounting to maximize the success of your import company.
Monday, October 13, 2008
Secured Debt Consolidation Loans
Are you getting frustrated with the calls from the various lenders regarding your existing debts? Since the income you earn is limited, it is not sufficient enough to pay off all your debts. With so many troubles in your shoulders, the only logical solution lies in wiping the debts completely with the help of secured debt consolidation loans. These loans offer ample finances which will assist you to get rid of all the multiple debts without any further problems.
When you are paying multiple payments with varying interest rates, it becomes very difficult. But in the case of these loans, all your existing debts are consolidated in to a single manageable amount. After consolidation, you can seek a fresh loan from one of your multiple creditors at low rates of interest. By paying off all the debts, you get rid of paying multiple installments towards the various creditors. In the case of these loans, you just have to make a single monthly payment, that too at a low interest rate. This allows you to save a lot of money which can be used for other purposes as well.
To avail these loans, you have to part away any valuable asset of yours such home, real estate, etc as collateral. The amount approved is determined by calculating the equity value present in the collateral. This means if you are looking for a bigger amount, it is recommended to offer any valuable asset as collateral. As the amount is secured against an asset, you can access these loans at very low rates.
Under these loans, you can borrow amount in the range £ 5000-£ 75,000 with a repayment duration that stretches for a period of 5-25 years. In fact bad credit borrowers with problems like CCJs, IVA, arrears defaults etc can apply for these loans. However, the rate of interest will be slightly higher.
Secured debt consolidation loans are offered by most of the individuals, but it is the online lenders who offer these loans at flexible terms and conditions. Only those loan package should be availed which suits your prevailing circumstances. To get the maximum advantages of these loans, you must put a special emphasis on the low rates of interest.
When you are paying multiple payments with varying interest rates, it becomes very difficult. But in the case of these loans, all your existing debts are consolidated in to a single manageable amount. After consolidation, you can seek a fresh loan from one of your multiple creditors at low rates of interest. By paying off all the debts, you get rid of paying multiple installments towards the various creditors. In the case of these loans, you just have to make a single monthly payment, that too at a low interest rate. This allows you to save a lot of money which can be used for other purposes as well.
To avail these loans, you have to part away any valuable asset of yours such home, real estate, etc as collateral. The amount approved is determined by calculating the equity value present in the collateral. This means if you are looking for a bigger amount, it is recommended to offer any valuable asset as collateral. As the amount is secured against an asset, you can access these loans at very low rates.
Under these loans, you can borrow amount in the range £ 5000-£ 75,000 with a repayment duration that stretches for a period of 5-25 years. In fact bad credit borrowers with problems like CCJs, IVA, arrears defaults etc can apply for these loans. However, the rate of interest will be slightly higher.
Secured debt consolidation loans are offered by most of the individuals, but it is the online lenders who offer these loans at flexible terms and conditions. Only those loan package should be availed which suits your prevailing circumstances. To get the maximum advantages of these loans, you must put a special emphasis on the low rates of interest.
Credit Loans UK
People with bad credit understand that the doors to the world of credit are closed to them. Not at all, you are at fault. Mind you that money market always has some or other sort of financial solution for everyone. No matter whether you have a good credit or bad, still you have chances of securing money provisions. Looming gravity of adversity has forced the lending authority to offer adverse credit loans UK for the Britons struggling with credit problems. These money provisions come in different shapes and sizes. This much only people need that they may apply these loans as per their feasibility.
These money provisions come in secured and unsecured forms for the convenience of the borrowers. If you are a homeowner, then your way to secure these money provisions is quite an easy task for you. Since what most of the lenders demand is the security for the loan that you are able to provide and that is why you get such money provision easily. Conversely for those having no worth as for security to the loan though they can be offered unsecured loan but no doubt they will find it hard to obtain. Unsecured form of borrowing is preformed without any sort of pledging placing so lender feel hesitate dealing in such money provisions with the people with poor credit scores.
The interest rate always remains to be the moot point for such loan provisions. Naturally, being risk inhibited, such loans get a bit costlier, and people have to manage it so as to secure the provision they desperately needed. Some issues affect all bad credit borrowers but vary in severity. Interest rates will be higher. While some may be surprised by this notion is understandable. A rate of interest is computed by taking into consideration the general rate of interest nationwide at the time the loan is made and the specific risk of the particular loan is in question.
But you need not worry about the rate factor. There are many lenders available in the money market for adverse credit loans UK. You need do one thing to compare the other such lending options available around. Once you experience the world of bad credit financing, you will get to know what you should do then. According to the degree of your problem, you can negotiate rate with your creditor. If you are well enough to do that, in all probability your chances are much brighter to secure these money provisions on comparative rates.
These money provisions come in secured and unsecured forms for the convenience of the borrowers. If you are a homeowner, then your way to secure these money provisions is quite an easy task for you. Since what most of the lenders demand is the security for the loan that you are able to provide and that is why you get such money provision easily. Conversely for those having no worth as for security to the loan though they can be offered unsecured loan but no doubt they will find it hard to obtain. Unsecured form of borrowing is preformed without any sort of pledging placing so lender feel hesitate dealing in such money provisions with the people with poor credit scores.
The interest rate always remains to be the moot point for such loan provisions. Naturally, being risk inhibited, such loans get a bit costlier, and people have to manage it so as to secure the provision they desperately needed. Some issues affect all bad credit borrowers but vary in severity. Interest rates will be higher. While some may be surprised by this notion is understandable. A rate of interest is computed by taking into consideration the general rate of interest nationwide at the time the loan is made and the specific risk of the particular loan is in question.
But you need not worry about the rate factor. There are many lenders available in the money market for adverse credit loans UK. You need do one thing to compare the other such lending options available around. Once you experience the world of bad credit financing, you will get to know what you should do then. According to the degree of your problem, you can negotiate rate with your creditor. If you are well enough to do that, in all probability your chances are much brighter to secure these money provisions on comparative rates.
Thursday, October 9, 2008
Cheap Loans UK: When Finance Flows Easily
Taking loans no longer remains a taboo. People irrespective of their financial situation go on to take loans to meet their growing expenses. But the real concern for everyone is that the loan should be cheap. Cheap loans UK offers the opportunity to avail loans that are really cheap.
Cheap loans UK are available in secured and unsecured forms. Homeowners and other asset holders can get secured cheap loans against their asset. Secured cheap loans are the real cheap loans that are available under the cheap loan scheme. The collateral that is placed against the loan encourages the lender to advance loans at cheap and attractive rates since they have surety of repayment of their money. Loan amount ranges from £5000 to £750000.
There are also unsecured cheap loans UK for tenants and non home owners where no collateral is required. These loans are less risky for the borrower as they don’t have to pledge their property to the lender. Lower interest rate in these loans can be found by thorough research of the loan market. Unsecured loans offer loan amount in the range of £1000-£25000.
Cheap loans UK have interest rates formulated by the financial status of the borrower. The interest rates generally depend on the credit ability and repayment term of the loan. The repayment term of secured loans ranges from 5 to 25 years while that of unsecured loans range between 6 months and 10 years.
By going online, borrowers can get cheap loans UK in further lower rates. This is because online mode gives greater option to borrowers to choose from.
Cheap loans UK can serve a whole lot of purposes. They can be used for debt consolidation, starting a new business or updating an existing one. These loans can also be used to buy car, repair home and holiday making. Even bad credit borrowers can get cheap loans.
Thus through cheap loans UK, citizens in UK can fulfill their various needs easily. They also do not have to pay huge amounts as interest.
Cheap loans UK are available in secured and unsecured forms. Homeowners and other asset holders can get secured cheap loans against their asset. Secured cheap loans are the real cheap loans that are available under the cheap loan scheme. The collateral that is placed against the loan encourages the lender to advance loans at cheap and attractive rates since they have surety of repayment of their money. Loan amount ranges from £5000 to £750000.
There are also unsecured cheap loans UK for tenants and non home owners where no collateral is required. These loans are less risky for the borrower as they don’t have to pledge their property to the lender. Lower interest rate in these loans can be found by thorough research of the loan market. Unsecured loans offer loan amount in the range of £1000-£25000.
Cheap loans UK have interest rates formulated by the financial status of the borrower. The interest rates generally depend on the credit ability and repayment term of the loan. The repayment term of secured loans ranges from 5 to 25 years while that of unsecured loans range between 6 months and 10 years.
By going online, borrowers can get cheap loans UK in further lower rates. This is because online mode gives greater option to borrowers to choose from.
Cheap loans UK can serve a whole lot of purposes. They can be used for debt consolidation, starting a new business or updating an existing one. These loans can also be used to buy car, repair home and holiday making. Even bad credit borrowers can get cheap loans.
Thus through cheap loans UK, citizens in UK can fulfill their various needs easily. They also do not have to pay huge amounts as interest.
5 ways to prepare your finances
With the New Year having past us by, many of us are starting to think now about our New Year's financial resolutions, one of the major issues that most of us always promise to address it finances. Most of us find that we could make a number of improvements to our finances, whether it is in terms of managing our finances and budgeting more effectively or whether it is in terms of cutting back and streamlining our outgoings.
With 2008 well under way and our Christmas spending hitting home, now is the time to start thinking about improving our finances, so that we can look at starting the New Year on a more positive financial note. Below are some of the top ways in which you can improve your finances for 2008.
1. Streamline your outgoings: It is amazing just how much money we all waste each year, often without even realizing. If you go through your regular outgoings with a fine tooth comb you could well come across things such as unused subscriptions and useless memberships for services that you no longer really use, and you can cancel these and put the money to better use.
2. Cut back on non-necessities: Of course, we all love to splash out from time to time, but many of us tend to live a champagne lifestyle on beer money. Go through your monthly outgoings and try and make cutbacks wherever possible on non-necessities such as going out and spending on clothes. By spending a few extra nights in – perhaps cooking dinner at home for friends instead of going out for meals – and avoiding the temptation of too much retail therapy you could save a small fortune.
3. Take advantage of the sales: Although this may seem as though it is contradicting the above, you can be really thrifty by taking advantage of the sales. Watch out for them, as many shops have sales at different times of the year, and not just january. This doesn't mean you should go out and spend on anything that looks like the price has been knocked down even if you don’t really want or need it. However, try and determine whether you will need things such as clothes for work or for the kids in the coming months, and get them during the sales when you can often get twice as much for your money.
4. Improve your financial management: If you are the type of person that hates to look at their bank balance and does nothing to monitor income and outgoings then now is the time to make a change. Keep a track on everything that goes in and out of your account, and check your balance regularly. This will help you to avoid everything from becoming the victim of fraud or theft to accruing costly bank charges for exceeding overdraft limits.
5. Review your debts: Most of us have a number of debts in one form or another, whether it is credit cards, stores cards, or loans. Take a look at how much you owe and see whether you could save yourself hassle and money each month by consolidating your debts – or in the case of just credit card debts by transferring them onto a 0% balance transfer card.
Monday, October 6, 2008
Is Your Estate Planning Up-To-Date?
Take this simple test to see if it is:
1. Have you ever done a will or trust?
Without proactive planning, you are relying on the New Jersey legislature to determine how your assets pass, to whom they pass, and when they pass. In addition to having potentially undesired results, this is perhaps the most costly and time-consuming means of passing your assets to your loved ones.
2. Is your will or trust more than 3 years old?
Even assuming that there have been no family or financial changes since your plan was last reviewed, there have been major tax law changes in 1997 and in 2001. An out-of-date estate plan is perhaps worse than no estate plan at all. Our experience is that people view estate planning as an event rather than a process. Keeping your plan current is vital to achieving the goals you set out to accomplish.
3. Are all of your heirs over the age of 18 and financially responsible?
Under New Jersey law, children inherit property no later than age 18 without restriction. Proper planning is crucial to prevent an heir from squandering his or her inheritance, or worse, from causing harm to himself or herself.
4. Does your current plan provide your heirs with asset protection, divorce protection, and lawsuit protection?
The most common means of providing for heirs is with outright distributions. By doing so, however, the inheritance becomes subject to the creditors of your heirs.
5. Is this your first marriage?
Second or subsequent marriages present unique planning issues, particularly if both spouses have children from a prior marriage. Proper planning is critical to prevent undesired results.
If you've answered "No" or "Don't Know" to any one of these questions (or "Yes" to No. 5), you need to contact an estate planning lawyer to schedule a time to meet and discuss your responses, the consequences of not taking action, and potential solutions to these and other issues.
How to Obtain Cash For Inheritance Held in Probate
Advance inheritance is a term used by cash lenders and private investors who provide funds to beneficiaries of an estate held in probate. When a person dies, all of their possessions are transferred to probate. Depending on the complexity and circumstances of the estate, the probate process can last between six months and three years.
Obtaining advance inheritance is similar to applying for a loan. However, no interest in charged on the advance and there is no note to repay. Instead, the cash advance is repaid through the estate when probate settles.
Funding sources typically provide inheritance cash advances to heirs entitled to $15,000 or more. However, some cash advance providers will work with beneficiaries whose inheritance is as small as $2500. Beneficiaries of small estates generally have better success in obtaining a cash advance through private investors who specialize in probate estates.
When seeking advance inheritance funding, beneficiaries are required to provide personal information and details of the estate. Funding companies usually require a copy of the decedent's Last Will and Testament, Petition for Probate, Inventory and Appraisement statement, Death Certificate, and Listing Agreement or Sales Contract for real estate holdings.
A credit report will be obtained for heirs requesting a cash advance for inheritance. If the applicant has outstanding judgments, creditor liens, child support or bankruptcy proceedings, advance inheritance will typically be denied.
After all documents have been verified by the funding source, advance inheritance distributions generally occur within 3 to 5 business days. This timeframe can vary depending on the advance amount and policies of the funding source.
Funding sources assume significant risk when providing advance inheritance. First, there is the potential of insufficient funds remaining in the estate to repay the advance. When this occurs, the funding source must absorb the loss because the beneficiary is not responsible for repayment of the advance. Second, funding sources must wait until the estate settles to receive their distribution.
Inheritance cash advances typically range from $10,000 to $100,000. As a general rule, advance inheritance cannot exceed 30-percent of the heir's anticipated distribution. When beneficiaries receive a cash advance they must assign their inheritance rights to the lending source in exchange for the upfront cash payment. Additionally, a fee is charged and deducted from the advance.
Careful consideration should be given to obtaining advance inheritance funding. While it might be tempting to obtain cash upfront instead of waiting for probate to settle, it is important to understand the pros and cons of this type of transaction.
Last, but not least, it is crucial to engage in due diligence when selecting a funding source. Be certain to check with the Better Business Bureau to ensure the company or private investor you are working with is in good standing. Additionally, conduct research online to check for complaints or legal issues.
Wednesday, October 1, 2008
Financial Management - Motivation is the Key Factor
There are things that only we can do for our self. One of these things include financial management. It does not matter your: profession, educational background, how much you have etc., the truth is that finances are the life blood of every Human being. It is not my intention to bother you with some accounting technical terms here. My utmost faith is to see you take action that will better your finance for good. Listed below are some of the skills you need to become your own financial manger:
Discipline: For you to become your own financial manger, you cannot do away with being disciplined. Being disciplined helps you in the area of consistency. Every accountant out there knows that consistency is a (principle/convention/theory) that is highly valued. What this will do for you is to make you be in a position to make comparison between different time frames.For instance, how do you know you over/under spent on certain item(s) in the previous month if there is no yardstick for doing such?
Budgeting: This is not a difficult thing to do; is as simple as saying; Hey Guys, I want to spend Fifty Thousand Naira this month. But wait a minute, do you think is enough to just say it? The obvious answer is NO. So, put it down in writing. Is that a difficult thing to do?
Record keeping/Analytical mind: Hey! Don't go shivering by my mentioning these 'mathematical" sounding words. I don't mean you should be sophisticated in this regard, a simple diary can do the job perfectly well. What you need to do here is: get a portable diary and pen and make use of them to take note of all your expenses (both minor and major). This is very important if you really want be your own financial manager. REMEMBER TO BE DISCIPLINED. At the end of every period (monthly, weekly, daily), compare your budget i.e what you said you want to spend and what you actually spent. Again,write down the difference
Rewarding/cautioning attitude: This is the time to take ACTION. I must warn that you be objective at this point. Don't be lenient because you are dealing with yourself. Be objective. OK, if at this point you get a favourable variance (difference between actual and budgeted), pat yourself at the back and and say "Truly i am a financial manager". If on the other hand you get an adverse variance, CAUTION yourself. learn to be disciplined. I want to assure you that if the above simple, yet powerful steps are taken, not only will you become a financial manager, your financial position will take a different shape and you will be better off in the long run.
The Rise of Digital Asset Management
When I first heard the term digital asset management I assumed it was just another financial term for some type of media stocks or bonds. In actual fact, Digital Asset Management or DAM is pitched to be one of the top media software products of the future.
Digital Asset Management's suggested growth over the next 5 years is estimated at over 300% which is triple the current value. The business research & consulting firm Frost & Sullivan are forecasting that "the market is set to grow at a very healthy double digit growth rate through the forecast period, 2007 to 2013". According to Frost & Sullivan; "Around 70 major vendors are now seeing the need to digitize their media assets".
DAM solutions are becoming as streamlined into a website development as content management systems and search marketing. The reason for its success is that most big corporate websites hold a lot of rich digital media including images, audio and video content and this can make storage and retrieval of these assets difficult. For all of this content to be hosted, easily retrievable, distributed and exported it needs to be stored in a central location, properly filed, archived, optimised and available in a range of different downloadable formats.
Another reason for the success of DAM is that a lot of files, specifically video files can be so huge that even FTP access across public services is undesirable, DAM makes this possible by employing a delivery service, with access to single assets from multiple locations, thus reducing the time and cost of producing the content and maximising the return on investment.
What types of DAM systems are there?
The types of DAM are dependant on their facilitation with the business; brand asset management for example is focused largely on marketing and deals with marketing collateral such as product imagery, fonts and logos. Production asset management is commonly used in the organisation and storage of frequently changing digital media assets, whereas digital supply chain services purely focuses on the pushing of digital content out to retailers i.e. Music and games store. Library management is probably the most widely used type with a focus on the storage and retrieval amounts of mostly archived video and photo media.
If we take a closer look at DAM, the tools that it utilises start to make the system more of a tangible product. The types of uses for the system in business is for Multimedia press kits and marketing materials, corporate presentations, VOD, rich media libraries of; video, fonts and images and other marketing collateral. The types of files this includes are; images, logos, audio, animation, CAD, video and HTML.
So what's in store for the future?
According to industry analyst Zippy Aima "There is the recent proliferation of digital media content, especially video, and the rise of portable devices for viewing it. We can add the widespread availability of broadband data services to distribute it, and the need for systems that can store and deliver that content to the right people at the right time."
With media creation so accessible via broadband and likely to grow vastly over the next decade, images from our everyday devices such as cameras, phones and scanners will continue to flood onto the web, billions of assets (files) all hitting social networks, websites and blogs at a furious pace, and all with a thousand different destinations and target audiences. DAM will soon be the only technology capable of dealing with the demand and with the worth of digital media content management set to rise; from $203 million to an anticipated $558.6 million by 2014 this looks set to continue.
Saturday, September 27, 2008
Five Steps To Creating A Family Budget
Getting started on creating your family budget can be as easy as 1,2,3. In just five steps you can be on the path to sorting your finances. Budgeting is an important first step in planning your family finances and evermore important in this day and age with rising costs. A budget is an empowering tool letting you control your money instead of your money controlling you.
Step one: Find out your monthly income.
This is your take-home pay and regular funds from other sources such as rental, interest etc. Income from all member of the household should be included.
Step two: Establish what your expenses are.
Writing your expenditures down will provide you with the unique opportunity to find out if your money goes for things that you do not really need. This list should include necessities such as food; regular bills such as rent; insurances, school costs, vehicle expenses and incidentals. Also include entertainment and any saving.
Step three: Work out how much you spend on each expense.
Some expenses will come in regularly each month but others are perhaps annual or quarterly. The trick here is to include each expense in your monthly budget. An annual bill for example will be divided by 12 to give you the monthly figure. This way there's no nasty surprises when the bill comes through. Also allow a sum for unexpected expenses.
Step four: Compare your monthly expenses with your monthly income.
This could result in a surplus (positive) or a deficit (negative). A surplus is great as you can save more -- or spend it. A negative means you are spending more than you have coming in and will need to cut costs.
Step five: Balance your budget.
If you have found that your family budget shows that you are spending more than you are earning you will need to cut back on spending. Work out how much you need to cut down on and find where you can make these changes. Do not make cuts in your budget that you are unable to live with or that are unrealistic. When you make these decisions keep your real expenses and living realities in the forefront of your mind. Re-balance your budget after you have made the cuts.
The good news is that whether you are "in the red", just scraping by, managing to save a little, or a lot, this five step family budgeting process will highlight areas where your immediate attention is needed. And if you are trying to get out of debt cutting expenses is crucial and not only if you are over budget.
Re-visit your family budget often -- it should be an active process and is an invaluable tool to help you keep your fingers on the pulse of your financial situation. If you can stick with your family budget it can help you to meet your goals, get out of and stay out of debt, to always pay your bills on time, keep track of your spending and make the most out of your dollar.
In the World of Investments and Finance
Investments includes how to value stocks, bonds, and other financial securities; the theory and practice of portfolio management; and the functioning of the securities markets.
Financial institutions examines the role of financial intermediaries, especially commercial banks, in the financial system and the principal managerial issues facing such institutions. Investment in companies may be in shares or by direct investment (private equity).
Islamic scholars have made some concessions on permissible companies, as most use debt either to address liquidity shortages (they borrow) or to invest excess cash (interest-bearing instruments).
Financiers are rightly rewarded for taking risks, which by their nature cannot be entirely managed away or anticipated. The tendency for success to breed complacency and recklessness is as ingrained in financial markets as it is in any other walk of life.
Financial mathematics is the study of financial data with the tools of mathematics , mainly statistics . Such data can be movements of securities?stocks and bonds etc.?and their relations.
Students will learn how to establish appropriate investment objectives, develop optimal portfolio strategies, estimate risk-return tradeoffs, and evaluate investment performance. Many of the latest quantitative approaches are discussed.
Students interested in financial careers receive an excellent professional financial education through the College of Business? Finance Program. You will find highly qualified faculty members, well defined jobs in the field, and other resources, which properly used will lead to excellent career prospects.
Students are also required by the Mathematical Sciences Department to pass a Qualifying Examination, covering major and minor topics, to certify the students' preparedness to begin research. The minor topic may be numerical analysis, statistics, or finance/economics. Students majoring in business need only three additional economics courses to get a minor in economics.
Finance is about ideas. And one of the nice things about finance is that the same ideas come back again and again - but dressed up in different disguises. Finance is a specialty that deals with the allocation of resources on the corporate, institutional and personal levels.
Money is the life blood of the economic system and the flow of money through corporations, capital markets, and financial institutions are integral to how that life blood gets pumped through the system, how it nourishes the health of the system, and how the economy sustains and perpetuates the standard of living that we enjoy. Finance is fast, easy, and free. You can create and maintain as many portfolios as you like with a single Yahoo!
Finance is responsible annually for the audit, budget, capital improvement program and the long range financial plan for the City. Finance also directs the issuance of municipal debt and industrial revenue bonds.
Accountants and finance specialists are essential to a firm's growth and development. If you are interested in a career in this field, you are fortunate to be able to make use of the many career opportunities which abound worldwide in this growing area.
Accounting and Control, Business Studies, Economics) or Master's programmes at other universities can also be included in your curriculum after approval of the Master's in Quantitative Finance programme committee. You can thus create your own future career profile.
Saturday, September 20, 2008
Benefits of Asset Finance- The Reason Behind its Popularity
Asset finance is a sort of financial arrangement with the help of which one can purchase any business related equipment be it new and used cars, machinery or office equipment. As the loan can be arranged easily, many business firms take the asset finance route to expand their business infrastructure and this is adding to its growing popularity as an affordable finance solution.
Here are some major benefits associated with asset finance:
Helps in saving working capital
Buying equipment outright needs a huge amount of capital investment that at times prevents the business owner from investing in other projects. But with smaller, frequent lease payments, one can save some much needed cash and invest it in other areas of the business. It helps a company to adapt quickly to new business opportunities and meet unexpected requirements.
Helps in responding to opportunities
To take advantage of sudden unexpected opportunities, one needs money. And especially businesses are almost always in need of easy finance solutions to keep pace with latest technological developments. Timely response to the changing needs of the business holds the key to success. Asset finance is one of the quicker solutions that can be arranged in relatively shorter time.
Helps in managing the budget
Asset finance allows one to make regular fixed payments for a particular period of time leaving one comparatively free from inflation worries or changes in interest rates. Hence, it becomes easier for a business firm to plan its future budgeting.
Helps in maintaining existing credits
With asset finance, there would not be any problem in maintaining other existing credit lines arranged with a bank or other financial institutions. Hence, if necessary, a business firm is free to use other bank facilities any time.
Has a flexible nature
Under each and every asset finance agreement, a lot of meticulous attention is given to the lender’s requirements. Most of these finance solutions are tailor made to ensure that the future targets of the business can be achieved as planned.
No need for any deposit
For arranging an asset finance loan, there is no hard and fast rule for a deposit. The borrower just needs to make regular payments to repay the loan as per the terms of the agreement.
Maximum tax benefits
As the lease payments are referred to as expenses, it means the payments may be offset against taxable profits. It ultimately helps in reducing the overall cost. Moreover, the untaxed portion can be used in a profitable manner.
Payments as per the lender’s convenience For the repayment of an assent finance loan, the lender has the flexibility to choose the repayment option. While payments can be made through direct debit, there are also provisions to choose the period - monthly or quarterly. One can decide the right option depending upon their financial conditions.
These positive factors do make it seem as if asset finance is the best solution whenever your business is in need of fast cash. But before applying for asset finance, it is advisable to understand all its pros and cons.
Rather than taking the plunge without adequate homework, it is advisable to take the help of some consulting company which is networked with the top lenders and can help you to get competitive and tailored asset financial solutions to suit your business requirements.
Here are some major benefits associated with asset finance:
Helps in saving working capital
Buying equipment outright needs a huge amount of capital investment that at times prevents the business owner from investing in other projects. But with smaller, frequent lease payments, one can save some much needed cash and invest it in other areas of the business. It helps a company to adapt quickly to new business opportunities and meet unexpected requirements.
Helps in responding to opportunities
To take advantage of sudden unexpected opportunities, one needs money. And especially businesses are almost always in need of easy finance solutions to keep pace with latest technological developments. Timely response to the changing needs of the business holds the key to success. Asset finance is one of the quicker solutions that can be arranged in relatively shorter time.
Helps in managing the budget
Asset finance allows one to make regular fixed payments for a particular period of time leaving one comparatively free from inflation worries or changes in interest rates. Hence, it becomes easier for a business firm to plan its future budgeting.
Helps in maintaining existing credits
With asset finance, there would not be any problem in maintaining other existing credit lines arranged with a bank or other financial institutions. Hence, if necessary, a business firm is free to use other bank facilities any time.
Has a flexible nature
Under each and every asset finance agreement, a lot of meticulous attention is given to the lender’s requirements. Most of these finance solutions are tailor made to ensure that the future targets of the business can be achieved as planned.
No need for any deposit
For arranging an asset finance loan, there is no hard and fast rule for a deposit. The borrower just needs to make regular payments to repay the loan as per the terms of the agreement.
Maximum tax benefits
As the lease payments are referred to as expenses, it means the payments may be offset against taxable profits. It ultimately helps in reducing the overall cost. Moreover, the untaxed portion can be used in a profitable manner.
Payments as per the lender’s convenience For the repayment of an assent finance loan, the lender has the flexibility to choose the repayment option. While payments can be made through direct debit, there are also provisions to choose the period - monthly or quarterly. One can decide the right option depending upon their financial conditions.
These positive factors do make it seem as if asset finance is the best solution whenever your business is in need of fast cash. But before applying for asset finance, it is advisable to understand all its pros and cons.
Rather than taking the plunge without adequate homework, it is advisable to take the help of some consulting company which is networked with the top lenders and can help you to get competitive and tailored asset financial solutions to suit your business requirements.
Get unchained finance and feel free to run on the path of economic progress
People take loans at different junctures of their economic lives for various reasons. Most of us are required to maintain a sustainable financial path as the life progresses. The borrowings may be required to purchase a new car, spending for a holiday, establishing a new business, home improvements or above all the task of debt elimination through the debt consolidation process. Finance plays a very vital role in the smooth functioning of economic machinery. Loans without any piece of security are the most popular forms of borrowing for relatively small sums over a short-period of time.
As these money provisions are availed without any sort of security placing, a great number of borrowers have shown their interest in receiving these loans. These forms of financing not only offer better financial packages for economically disadvantaged persons like the tenants, but also a risk free borrowing choice for the homeowners as well. As these borrowings do not contain the threat of property repossession, homeowners who do not want to place their valuable asset as a security before the lending body can avail them without any big risk.
With unsecured loans, the borrowers often are required to pay higher rates, because the lenders do not require any valuable piece of immovable property of the borrowers as security against the loan amount. The payable rate of interest associated with these borrowings is calculated in APR (annual percentage rate) and this is conventionally dependent on the credit rating of the loan taker. Some of the unsecured loans are available on a fixed rate, which means that the individuals know exactly what their monthly repayment sum is, while the payable amount remains the same throughout the repayment period. Loan applicants without putting any risks on their property can borrow amount ranging between £1,000 and £25,000 under these funds. This amount is provided with a short repayment term of 1 to10 years from the date of approval. In the British loan market, availing a loan without putting your property at the stake is not a challenging job, because the banks, financial institutions and online money lending institutions are ready to give the amount by following hassle free documentation process.
Apart from this, the increasing rates of interest in case of the unsecured loans also get affected by the loan taker's credit rating. Credit rating symbolises the past track record of the borrowers’ regarding repayments on various types of financial commitments. When a borrower struggles to make repayments, it results in the increasing of incurring rates of interest. But even under such circumstances, the road of loan availability is not blocked for the bad credit customers. These borrowers can get bad credit unsecured loans at a higher rate of interest and smaller repayment period.
There is a massive flux of lenders across the British financial market offering the unsecured loans for the unemployed as well. Finding a suitable lender for the loan deal has become rather puzzling for some of the borrowers. To save one from this confusion, the applicants must not hesitate to search around for a better loan deal. It might get difficult for the customers since they are busy in their office work. Under such circumstances the online process proves to be a good loan application method. Online application system not only saves time but also secures cheaper loan deals. In order to avail the details concerning loan and the lender, the borrowers ought to collect and subscribe various loan quotes and utilise the facility loan calculator. Loan calculator helps the clients to assess their monthly instalments.
As these money provisions are availed without any sort of security placing, a great number of borrowers have shown their interest in receiving these loans. These forms of financing not only offer better financial packages for economically disadvantaged persons like the tenants, but also a risk free borrowing choice for the homeowners as well. As these borrowings do not contain the threat of property repossession, homeowners who do not want to place their valuable asset as a security before the lending body can avail them without any big risk.
With unsecured loans, the borrowers often are required to pay higher rates, because the lenders do not require any valuable piece of immovable property of the borrowers as security against the loan amount. The payable rate of interest associated with these borrowings is calculated in APR (annual percentage rate) and this is conventionally dependent on the credit rating of the loan taker. Some of the unsecured loans are available on a fixed rate, which means that the individuals know exactly what their monthly repayment sum is, while the payable amount remains the same throughout the repayment period. Loan applicants without putting any risks on their property can borrow amount ranging between £1,000 and £25,000 under these funds. This amount is provided with a short repayment term of 1 to10 years from the date of approval. In the British loan market, availing a loan without putting your property at the stake is not a challenging job, because the banks, financial institutions and online money lending institutions are ready to give the amount by following hassle free documentation process.
Apart from this, the increasing rates of interest in case of the unsecured loans also get affected by the loan taker's credit rating. Credit rating symbolises the past track record of the borrowers’ regarding repayments on various types of financial commitments. When a borrower struggles to make repayments, it results in the increasing of incurring rates of interest. But even under such circumstances, the road of loan availability is not blocked for the bad credit customers. These borrowers can get bad credit unsecured loans at a higher rate of interest and smaller repayment period.
There is a massive flux of lenders across the British financial market offering the unsecured loans for the unemployed as well. Finding a suitable lender for the loan deal has become rather puzzling for some of the borrowers. To save one from this confusion, the applicants must not hesitate to search around for a better loan deal. It might get difficult for the customers since they are busy in their office work. Under such circumstances the online process proves to be a good loan application method. Online application system not only saves time but also secures cheaper loan deals. In order to avail the details concerning loan and the lender, the borrowers ought to collect and subscribe various loan quotes and utilise the facility loan calculator. Loan calculator helps the clients to assess their monthly instalments.
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