Asset finance is a general term that is used in the financial world to encapsulate different types of finance packages. Some finance types include hire purchases, lease purchases, finance leases and operating leases, all of which should be understood on a basic level, especially if you are a business owner needing to buy equipment for your company.
Hire Purchase Asset Finance
Hire purchases are the most commonly referred to form of asset purchases and allow a business owner to take out a contract, pay a percentage of the deposit and then a monthly "hire fee" to use the item. Once the full purchase price - plus interest - has been fully repaid, the business owner can choose to buy the item at a predetermined fee, or return the item to the lender.
Lease Purchases in Asset Finance
Lease purchases are extremely similar to hire purchase, with the difference between these two types of asset finance being you make multiple repayments as a deposit rather than the upfront percentage that you would for a hire purchase. The remaining balance of the asset - plus interest - is then paid in a number of instalments which are defined by the contract.
A Financial Lease
In a financial lease, the asset is owned by the finance company. The finance company then rents the asset to you for a stated amount of time. At any time, the finance company can write down the allowances and let you use them as well.
With a financial lease, you are not able to sell the asset as it does not belong to you. Nonetheless, the finance company can allow you to sell the asset on their behalf in which you will be entitled to a share of the proceeds from the sale of the asset. Your share can be negotiated to as high as 99 per cent of the sale proceeds.
Using an Operating Lease
An operating lease is extremely similar to the financial lease so you should compare these two different finance assets to see which one is more desirable for your needs. The difference between these two is that with an operating lease during the primary period, you are not paying for nearly all of the hire charges and capital costs as you would with the finance lease. Operating leases hardly ever have a second rental period.
Discuss your asset finance options with your accountant, financial advisor or banking expert. By doing so, you will be able to ask specific questions relating to your circumstances and fully understand how each type of asset finance will impact you and your business.
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Friday, September 3, 2010
Wednesday, September 1, 2010
Time Versus Money
What if I told you that someone anonymously deposits 86,400 cents in your bank account every single day? This amounts to RM864 of free cash every single day without working. It is your to spend however you wish but with a condition. You have to use it or you will lose it. Any amount still in the account at midnight each night will miraculously vanish into thin air. Here is my question: how would you spend that money?
I'm sure you are now thinking really hard how you would spend that money. What would you buy? How much you will spend? When should you spend it? Where can you spend it? I'm sure you will take it very seriously but why? Simple. Because that's a pretty good amount of money and you will not want to waste any by the end of the day.
Now I have some good news and bad news. The bad news is no one will be depositing any extra money in your bank account. However the good news is whether you are male or female, rich or poor, young or old, you are given 86,400 seconds to spend, invest or waste. But most people don't look at it as anything valuable.
The Fortune Teller
I'm not any fortune teller but I can predict one's financial future. If you tell me just two things: how you manage your Time and how you manage your Money, I can predict your financial future.
If you are one who use your time to continuously increase your wealth intelligence by attending the right seminars, reading the right books, allocating time to manage your cashflow the right way, the chances of you being rich is very likely.
However, if you spend your precious time doing other meaningless things, it's a waste of time. Also, if you spend money on things that are harmful or detrimental; be it for your physical or mental; that is a waste of money. For example, if you know that smoking is harmful to you and your loved ones, yet you spend RM10 every day on cigarette, that is an obvious waste of money.
The Pareto Principle
Vilfredo Pareto was an Italian economist who made a discovery about 100 years ago. He observed that 20% of the Italian people owned 80% of their country's accumulated wealth. He suggested that principle is at work that applies to money, people and time. Some people call it the 80/20 principle. This principle teaches us that when you practice the right priorities, 20% of the effort gets you 80% of your desired results.
20% of your habit contributes to 80% of your wealth
Think about it, if you drink coffee every morning and that costs you RM2 every single day. Just by bringing coffee from home and stop buying them outside, you will potentially save RM60 a month which equivalent to RM720 per year. Imagine saving RM720 per year and investing it at 10% interest rate per year for 30 years, you will potentially have extra RM118, 435.70 for your retirement.
20% of the people owns 80% of the money in the world
If 100% of the people have the same 86, 400 seconds every single day, what sets the 20% apart from the 80%? It is obvious that they have the same strategy of managing 86, 400 seconds every single day. Therefore start increasing your wealth intelligence by focusing your time and energy to learn the success blueprints of the 20%.
Value Your Time
To realise the value of one year, ask a student who failed his final exam.
To realise the value of one month, ask a mother who just gave birth to a premature baby.
To realise the value of one week, ask the editor of a weekly newspaper.
To realise the value of one day, ask the laborer who has 10 kids to feed.
To realise the value of one hour, ask a long distance relationship couple who is about to meet.
To realise the value of one minute, ask the person who just missed his flight.
To realise the value of one second, ask the victim who survived a car accident.
To realise the value of one milli-second, ask the runner who has just won the Olympic Gold Medal.
I'm sure you are now thinking really hard how you would spend that money. What would you buy? How much you will spend? When should you spend it? Where can you spend it? I'm sure you will take it very seriously but why? Simple. Because that's a pretty good amount of money and you will not want to waste any by the end of the day.
Now I have some good news and bad news. The bad news is no one will be depositing any extra money in your bank account. However the good news is whether you are male or female, rich or poor, young or old, you are given 86,400 seconds to spend, invest or waste. But most people don't look at it as anything valuable.
The Fortune Teller
I'm not any fortune teller but I can predict one's financial future. If you tell me just two things: how you manage your Time and how you manage your Money, I can predict your financial future.
If you are one who use your time to continuously increase your wealth intelligence by attending the right seminars, reading the right books, allocating time to manage your cashflow the right way, the chances of you being rich is very likely.
However, if you spend your precious time doing other meaningless things, it's a waste of time. Also, if you spend money on things that are harmful or detrimental; be it for your physical or mental; that is a waste of money. For example, if you know that smoking is harmful to you and your loved ones, yet you spend RM10 every day on cigarette, that is an obvious waste of money.The Pareto Principle
Vilfredo Pareto was an Italian economist who made a discovery about 100 years ago. He observed that 20% of the Italian people owned 80% of their country's accumulated wealth. He suggested that principle is at work that applies to money, people and time. Some people call it the 80/20 principle. This principle teaches us that when you practice the right priorities, 20% of the effort gets you 80% of your desired results.
20% of your habit contributes to 80% of your wealth
Think about it, if you drink coffee every morning and that costs you RM2 every single day. Just by bringing coffee from home and stop buying them outside, you will potentially save RM60 a month which equivalent to RM720 per year. Imagine saving RM720 per year and investing it at 10% interest rate per year for 30 years, you will potentially have extra RM118, 435.70 for your retirement.
20% of the people owns 80% of the money in the world
If 100% of the people have the same 86, 400 seconds every single day, what sets the 20% apart from the 80%? It is obvious that they have the same strategy of managing 86, 400 seconds every single day. Therefore start increasing your wealth intelligence by focusing your time and energy to learn the success blueprints of the 20%.
Value Your Time
To realise the value of one year, ask a student who failed his final exam.
To realise the value of one month, ask a mother who just gave birth to a premature baby.
To realise the value of one week, ask the editor of a weekly newspaper.
To realise the value of one day, ask the laborer who has 10 kids to feed.
To realise the value of one hour, ask a long distance relationship couple who is about to meet.
To realise the value of one minute, ask the person who just missed his flight.
To realise the value of one second, ask the victim who survived a car accident.
To realise the value of one milli-second, ask the runner who has just won the Olympic Gold Medal.
Taking Steps Toward Your Financial Security
In order to achieve financial independence, passive income is the key. Passive income refers to recurring cash flow derived from income producing assets. Whereas active income is income derived from salary, or net operating earnings if you are self-employed.
There are 5 stage of financial security, these are listed in order of least to most secure:
Stage 1: Financial Strife
This stage is characterised by living from pay cheque to pay cheque, having difficulty paying off credit card or personal loans, and having minimal or no personal savings. Here passive income is negligible, and active income is equal to, or less than, your total expenses. This is the stage you do not want to be in, avoid it at all costs, or get out of it as soon as you can.
Stage 2: Financial safety
This is the stage where your personal savings are enough to last you six to 12 months in the event of unemployment from any cause. This is the minimal safety net that everyone should have available in their bank account. Once you have reached this, any surplus cash may be used to achieve the next stage.
Stage 3: Financial independence
You have achieved financial independence when your annual passive income is adequate to cover your regular expenses per annum. Your investment is starting to pay off, and more cash flow from your active income will be available to purchase additional income producing assets, compounding your cash flow. You are well on your way to the next stage.
Stage 4: Financial liberty
Here your passive income is equal to, or greater than, your active income. If you have reached this stage pat yourself on the back, because having to continue in your current employment is a matter of choice, not a must. You are well on your way towards becoming a self-made millionaire.
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Stage 5: The Fast-track
You are able to afford all your dreams with your passive income, irrespective of whether you are working in a job or not.
Obviously these stages work in a continuum, and how much passive income a person needs in order to achieve each financial stage varies depending on individual circumstances.
There are 5 stage of financial security, these are listed in order of least to most secure:
Stage 1: Financial Strife
This stage is characterised by living from pay cheque to pay cheque, having difficulty paying off credit card or personal loans, and having minimal or no personal savings. Here passive income is negligible, and active income is equal to, or less than, your total expenses. This is the stage you do not want to be in, avoid it at all costs, or get out of it as soon as you can.
Stage 2: Financial safety
This is the stage where your personal savings are enough to last you six to 12 months in the event of unemployment from any cause. This is the minimal safety net that everyone should have available in their bank account. Once you have reached this, any surplus cash may be used to achieve the next stage.
Stage 3: Financial independence
You have achieved financial independence when your annual passive income is adequate to cover your regular expenses per annum. Your investment is starting to pay off, and more cash flow from your active income will be available to purchase additional income producing assets, compounding your cash flow. You are well on your way to the next stage.
Stage 4: Financial liberty
Here your passive income is equal to, or greater than, your active income. If you have reached this stage pat yourself on the back, because having to continue in your current employment is a matter of choice, not a must. You are well on your way towards becoming a self-made millionaire.
href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjoCOZOzV-pkaFJ81uoPoboeg1Cw4pHIDsp0YvXzyYvFGxFSaNwg9xaDmQ60AUhtq5lV7WRGES0RRTX-xjJIG1vy8ib7chIRVYQJu65LpLnW1WTLvN6ie-G2CLZYPPxV0NojAsFrEjM0ps/s1600/ff.jpg">
Stage 5: The Fast-track
You are able to afford all your dreams with your passive income, irrespective of whether you are working in a job or not.
Obviously these stages work in a continuum, and how much passive income a person needs in order to achieve each financial stage varies depending on individual circumstances.
Quick Cash Ideas - How to Generate Quick Cash
Extra cash Ideas
Wherever you are in life, there may perhaps come a period of time where you need to raise some cash immediately. In this article, we formulate some details regarding how to earn extra income. Easy doesn't mean that you will never need to do the job. There are still gonna be things that need to be done to ensure that you to complete your process.
Every day we are surrounded by the opportunity to make money. A few of these opportunities might be obvious to some yet others may not see them at all. One thing to do is to keep your eyes open and see what's going on around you. What are people buying? What exactly are people searching for on the internet? When you overhear conversations, what exactly are these people talking about in regards to their needs? All of this brings to opportunities that could be able to put easy money in your pocket.
Additionally, to paying attention to what's going on around you. When you have things that you can eliminate - sell them. There are many sites online where you can sell items. Using this option you can get an immediate cash flow at the point of sale. Also if you make items, thing about offering them online as well. Set up a PayPal account and as a sale is made, instantly you'll have money in your PayPal account.
This brings us to another way on how to generate quick cash. If you are not really digging eliminate things that you love, how about pawning them. This will give you a short term solution that allows you get your stuff back at a later date. Another thing that you could do, is when you have unwanted jewelry, you can get cash for that. Selling gold and silver is becoming ever so popular in these economic times.
Unless you require the money quickly, however you need it within a couple of weeks. Why not try getting started in completing surveys. There are a lot of companies on the internet that pay a small fee for filling out surveys. There are even companies that have a daily survey that you could generate money on. Now keep in mind that most of these businesses have a minimum payout. Being diligent in doing surveys daily, you can make a little fast money with this method that can be applied toward your goal.
Ultimately, start an online business. The price of going on the internet is relatively small, though the benefits are HUGE. After a little marketing, persistence, word of mouth, and determination, you can very well be on your way to not on earning money. You might even be able to quit your job and have the freedom that you have always dreamed of.
Wherever you are in life, there may perhaps come a period of time where you need to raise some cash immediately. In this article, we formulate some details regarding how to earn extra income. Easy doesn't mean that you will never need to do the job. There are still gonna be things that need to be done to ensure that you to complete your process.
Every day we are surrounded by the opportunity to make money. A few of these opportunities might be obvious to some yet others may not see them at all. One thing to do is to keep your eyes open and see what's going on around you. What are people buying? What exactly are people searching for on the internet? When you overhear conversations, what exactly are these people talking about in regards to their needs? All of this brings to opportunities that could be able to put easy money in your pocket.
Additionally, to paying attention to what's going on around you. When you have things that you can eliminate - sell them. There are many sites online where you can sell items. Using this option you can get an immediate cash flow at the point of sale. Also if you make items, thing about offering them online as well. Set up a PayPal account and as a sale is made, instantly you'll have money in your PayPal account.
This brings us to another way on how to generate quick cash. If you are not really digging eliminate things that you love, how about pawning them. This will give you a short term solution that allows you get your stuff back at a later date. Another thing that you could do, is when you have unwanted jewelry, you can get cash for that. Selling gold and silver is becoming ever so popular in these economic times.
Unless you require the money quickly, however you need it within a couple of weeks. Why not try getting started in completing surveys. There are a lot of companies on the internet that pay a small fee for filling out surveys. There are even companies that have a daily survey that you could generate money on. Now keep in mind that most of these businesses have a minimum payout. Being diligent in doing surveys daily, you can make a little fast money with this method that can be applied toward your goal.
Ultimately, start an online business. The price of going on the internet is relatively small, though the benefits are HUGE. After a little marketing, persistence, word of mouth, and determination, you can very well be on your way to not on earning money. You might even be able to quit your job and have the freedom that you have always dreamed of.
Wednesday, August 4, 2010
The VA Cash-Out Refinancing - It Could Put Big Cash in Your Pocket
Home financing rates are way down for everyone, but if you are a serviceman or veteran you may qualify for an even better deal with the VA Cash-out Refinancing program. The Veterans Benefits Improvement Act of 2008, which was signed on October 10, 2009, included new refinancing options for you. One of these new options is called VA Cash-out Refinancing.
If your current interest rate is too high, by using this refinance option you will lower your interest rate and thus lower your monthly payment. Can't beat that! If you need money to pay for your kid's college or to do home repairs and upgrades, this loan is an excellent idea. Think of all the things you can do with that extra money. Perhaps you really need a vacation or have been wanting to join a health club to lose those extra pounds. Maybe your car is about to die and you need better dependable transportation or perhaps you need an additional car for your son or daughter who is going away to college.
Before you run out to get one of these great VA Cash-out refinancing loans you need to know that certain criteria must be met in order to qualify for this program. You must not have been late on any of your mortgage payments in the last twelve months. You must be able to pass a credit check--if your credit is not good you will not qualify for this program--and you will need to be income qualified to match the loan amount you are seeking. An appraisal of your home is also required and the home you want to do VA Cash-out Refinancing on must be owner occupied. Lastly, this loan program is only good for up to $417,000.00. If this criteria matches your situation you are in for a great deal.
Here's how it works. You can borrow up to 90% of the value of your existing home. There will be a 3% funding fee, but this fee can be rolled into the loan amount. You can get cash back because of the equity you have built up on your home but what you do with the cash is up to you. If it sounds like you might qualify call today to apply for VA Cash-out Refinancing.
Resources: Static Caravan Insurance No matter what kind of static caravan insurance you require or caravan you own, you can be assured that you Shield Total Insurance static caravan insurance will give you complete peace of mind."
Motorhome Insurance Please click now to view how Club Care Insurance can help you get the perfect Motorhome Insurance Policy today.
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If your current interest rate is too high, by using this refinance option you will lower your interest rate and thus lower your monthly payment. Can't beat that! If you need money to pay for your kid's college or to do home repairs and upgrades, this loan is an excellent idea. Think of all the things you can do with that extra money. Perhaps you really need a vacation or have been wanting to join a health club to lose those extra pounds. Maybe your car is about to die and you need better dependable transportation or perhaps you need an additional car for your son or daughter who is going away to college.
Before you run out to get one of these great VA Cash-out refinancing loans you need to know that certain criteria must be met in order to qualify for this program. You must not have been late on any of your mortgage payments in the last twelve months. You must be able to pass a credit check--if your credit is not good you will not qualify for this program--and you will need to be income qualified to match the loan amount you are seeking. An appraisal of your home is also required and the home you want to do VA Cash-out Refinancing on must be owner occupied. Lastly, this loan program is only good for up to $417,000.00. If this criteria matches your situation you are in for a great deal.
Here's how it works. You can borrow up to 90% of the value of your existing home. There will be a 3% funding fee, but this fee can be rolled into the loan amount. You can get cash back because of the equity you have built up on your home but what you do with the cash is up to you. If it sounds like you might qualify call today to apply for VA Cash-out Refinancing.
Resources: Static Caravan Insurance No matter what kind of static caravan insurance you require or caravan you own, you can be assured that you Shield Total Insurance static caravan insurance will give you complete peace of mind."
Motorhome Insurance Please click now to view how Club Care Insurance can help you get the perfect Motorhome Insurance Policy today.
Company Liquidation Licensed Company Company Liquidation Lines Henry offer free initial consultations on all personal and corporate insolvency matters.
Aditi Govitrikar Wallpapers
VA Streamlines on Investment Properties
Moving around, whether it be due to transfers or other reasons, cause many veterans to leave behind homes that they have invested time and money in. With today's economy sometimes it makes more sense to rent out the home and have it as an investment property than risking a short sale or foreclosure if the property does not sell. However, some veterans aren't able to charge enough rent to cover the cost of the monthly mortgage payment and can't afford to make up the difference each month. Refinancing the home to take advantage of lower interest rates which result in a lower monthly payment may be the answer.
Veterans with a VA loan should look into a streamline or IRRRL refinance. If you have been trying to refinance you may have been turned away by lenders who say it isn't possible to streamline an investment property. The truth is it is possible to streamline your investment property; the trick is to find a lender who has experience in navigating the investment VA Streamline world.
Refinancing a residential investment property now typically requires an appraisal. As everyone knows the property values have declined, leaving the loan to value, LTV, to be well below what borrowers are hoping for. However, VA streamlines generally don't require appraisals. This is a huge advantage for veterans. Remember, VA loans including refinances don't require PMI due to the fact that the VA guarantee's part of the loan..
With a streamline it isn't necessary to get another certificate of eligibility. When you first received your VA loan you had to certify that you lived or planned to live at the home. Now that you are refinancing the home you just have to provide a utility bill, cable bill or other piece of mail proving that you lived at the residence. You are not required to certify that you are living in the home with a VA Streamline Refinance..
It can be hard on veterans to continue to come up the difference from rent to the mortgage payments. Refinancing can allow you to defer up to two months of mortgage payments. Deferring doesn't mean that you will be skipping payments depending on when your loan closes, you won't have to make that month's payment to your old lender and the next payment is not due until four weeks after the closing. The money saved during those two months can go towards the next payment, other bills, or closing costs if any..
Currently most lenders are requiring proof of income for all types of loans. With the rates of unemployment some veterans can't provide proof of income and are left to struggle with the payments and possibly end up in foreclosure. Fortunately, as long as your mortgage payments are current for the past 12 months no income verification is needed..
Don't let credit problems hold you back from checking into refinancing the home. Unlike FHA and conventional loans, lower credit scores can still be eligible. Because of the VA backing the loan lenders are more willing to take on borrowers with less than perfect credit.
Take advantage of a free consultation with a lender to find out what is possible with your individual circumstance. You may be able to lower your payment, rent your home for less than the payment and move to your new location without the stress of paying hundreds of dollars to make up the difference between the rent amount and mortgage payment each month.
Veterans with a VA loan should look into a streamline or IRRRL refinance. If you have been trying to refinance you may have been turned away by lenders who say it isn't possible to streamline an investment property. The truth is it is possible to streamline your investment property; the trick is to find a lender who has experience in navigating the investment VA Streamline world.
Refinancing a residential investment property now typically requires an appraisal. As everyone knows the property values have declined, leaving the loan to value, LTV, to be well below what borrowers are hoping for. However, VA streamlines generally don't require appraisals. This is a huge advantage for veterans. Remember, VA loans including refinances don't require PMI due to the fact that the VA guarantee's part of the loan..
With a streamline it isn't necessary to get another certificate of eligibility. When you first received your VA loan you had to certify that you lived or planned to live at the home. Now that you are refinancing the home you just have to provide a utility bill, cable bill or other piece of mail proving that you lived at the residence. You are not required to certify that you are living in the home with a VA Streamline Refinance..
It can be hard on veterans to continue to come up the difference from rent to the mortgage payments. Refinancing can allow you to defer up to two months of mortgage payments. Deferring doesn't mean that you will be skipping payments depending on when your loan closes, you won't have to make that month's payment to your old lender and the next payment is not due until four weeks after the closing. The money saved during those two months can go towards the next payment, other bills, or closing costs if any..
Currently most lenders are requiring proof of income for all types of loans. With the rates of unemployment some veterans can't provide proof of income and are left to struggle with the payments and possibly end up in foreclosure. Fortunately, as long as your mortgage payments are current for the past 12 months no income verification is needed..
Don't let credit problems hold you back from checking into refinancing the home. Unlike FHA and conventional loans, lower credit scores can still be eligible. Because of the VA backing the loan lenders are more willing to take on borrowers with less than perfect credit.
Take advantage of a free consultation with a lender to find out what is possible with your individual circumstance. You may be able to lower your payment, rent your home for less than the payment and move to your new location without the stress of paying hundreds of dollars to make up the difference between the rent amount and mortgage payment each month.
An Insight Into No Credit Check Military Loans
Ever since independence we have been dependent on the military people to protect ourselves and safeguard our nation from the foreign attacks. It is because of the selfless service of these people that we are able to sleep peacefully at nights. They do their level best to make sure that the country is safe no matter if they are engrossed with many physical and mental difficulties. The salary that they earn is a very meager one and often they are unable to lead a luxurious life. There are many materialistic things that they wish to possess but are unable to do so because of the paucity of money and resources available to them.
But no they can purse their dreams and desires with the help of No Credit Check Military Loans . This is a financial aid program designed specifically for the military people and is not meant for the civilians. It is a low interest loan and people with bad credit history can also apply for it. The maximum amount of money that can be availed is up to 25,000 and the amount so availed can be used to buy car, home or to send their child away on higher studies. The entire sum so borrowed can be paid back within a time period of 7-10 years and repayment begins the following month the loan amount is disbursed.
One can go online where they can find hundreds of thousands of money lending agencies providing this economic assistance program. The online procedure is hassle free and there is no need to fill in long complicated form and minimum amount of paperwork is involved. An application form has to be filled with details like name, address, contact number, residential details, job information etc. There are certain eligibility criteria that a person must satisfy forgetting No Credit Check Military Loans and they are summarized under the following headings:
* Age must be more than 18 years
* A permanent resident of United States
* A valid bank checking account older than 3 months
Once the application form is submitted along with the necessary documents, it takes about 2 weeks time to completely review it before the money is made available. Since it is a low interest loan, the rate charges is affordable and people can repay it easily without undergoing any kind of hassles.
But no they can purse their dreams and desires with the help of No Credit Check Military Loans . This is a financial aid program designed specifically for the military people and is not meant for the civilians. It is a low interest loan and people with bad credit history can also apply for it. The maximum amount of money that can be availed is up to 25,000 and the amount so availed can be used to buy car, home or to send their child away on higher studies. The entire sum so borrowed can be paid back within a time period of 7-10 years and repayment begins the following month the loan amount is disbursed.
One can go online where they can find hundreds of thousands of money lending agencies providing this economic assistance program. The online procedure is hassle free and there is no need to fill in long complicated form and minimum amount of paperwork is involved. An application form has to be filled with details like name, address, contact number, residential details, job information etc. There are certain eligibility criteria that a person must satisfy forgetting No Credit Check Military Loans and they are summarized under the following headings:
* Age must be more than 18 years
* A permanent resident of United States
* A valid bank checking account older than 3 months
Once the application form is submitted along with the necessary documents, it takes about 2 weeks time to completely review it before the money is made available. Since it is a low interest loan, the rate charges is affordable and people can repay it easily without undergoing any kind of hassles.
Sunday, July 4, 2010
Manage Money Through Structured Settlement Funding
Nowadays, it is already a must for everyone to have a personal investment specifically for financial reasons. They are trying to secure their future so that by the time they stop working; a regular flow of income will still be possible with the help of their structured settlement funding. There are a lot of insurance companies who tend to offer this kind of service especially to those people who want to invest. This is why; a lot of advertisements came in to motivate people to try having their own annuity and even guide people on how to start one.
Structured settlement funding is not solely for financial reasons but it can also affect your entire life one way or another. It can help one in doing financial management or to prevent one from having mounting debt or if not, help him pay all his debts before it grows terribly big. Selling your structured settlements in times of immediate need is one big advantage of this funding. It will make you to do some laborious work but if you can ask help from an attorney to process all legal procedures, it will be somehow easy and you can really assume getting the right amount.
A good structured settlement funding attorney can always be ready to help you out and always go for a reputable one to avoid problems and not to waste money. They can serve as your guide as you try to complete all necessary procedures before selling the structured settlement or better if they can make you understand. Expect that you need to work with an insurance company and that company can probably offer you the best if only good transactions can be done. Meet up with them and talk about important matters to make clear of everything and to get rid of misunderstandings.
Structured settlement funding is a big help in meeting up the financial needs of most people. With this, one can surely, receive a regular amount to sustain everyday living, start up a small business, pay debt, purchase a new house or a new car, settle an issue about divorce, support schooling, and much more. This is how advantageous structured annuity can be.
Structured settlement funding can help you manage payments simpler. But this is not true for everyone as we have all varying needs to meet up. If you think that the amount you can regularly obtain from this is just a sufficient amount to fill in your personal needs and your family members need also, then having this is a good option.
Structured settlement funding is not solely for financial reasons but it can also affect your entire life one way or another. It can help one in doing financial management or to prevent one from having mounting debt or if not, help him pay all his debts before it grows terribly big. Selling your structured settlements in times of immediate need is one big advantage of this funding. It will make you to do some laborious work but if you can ask help from an attorney to process all legal procedures, it will be somehow easy and you can really assume getting the right amount.
A good structured settlement funding attorney can always be ready to help you out and always go for a reputable one to avoid problems and not to waste money. They can serve as your guide as you try to complete all necessary procedures before selling the structured settlement or better if they can make you understand. Expect that you need to work with an insurance company and that company can probably offer you the best if only good transactions can be done. Meet up with them and talk about important matters to make clear of everything and to get rid of misunderstandings.
Structured settlement funding is a big help in meeting up the financial needs of most people. With this, one can surely, receive a regular amount to sustain everyday living, start up a small business, pay debt, purchase a new house or a new car, settle an issue about divorce, support schooling, and much more. This is how advantageous structured annuity can be.
Structured settlement funding can help you manage payments simpler. But this is not true for everyone as we have all varying needs to meet up. If you think that the amount you can regularly obtain from this is just a sufficient amount to fill in your personal needs and your family members need also, then having this is a good option.
Wednesday, June 9, 2010
Be Mindful of Credit Card Traps When Donating to Haiti Relief Funds
Within hours of hearing the devastating news of a huge earthquake that recently hit Haiti, Americans immediately began to reach deep into their pocketbooks to provide some sort of monetary support for the victims of this natural tragedy. While these charitable contributions are made in an attempt to help provide relief for those effected, it is important to be reminded of the possibility of scammers abusing your compassion and desire to help the Haitian people by setting up fake websites stating they are working directly with relief efforts in Haiti.
A surge in Haitian charity domain names being registered since that fateful day is a key indicator to the amount of caution that should be made by consumers when making donations online or over the phone. Most of these domains names recently purchased contain the words "help" "relief" "aid" "survivors" or "donations" to trick unknowing donors of where their hard earned money is actually going. Directly into the unscrupulous individual's pocket.
One thing that consumers should do before contributing to any charity is to verify the legitimacy of that organization before giving any sort of financial or personal information over a website form, email or phone. Sticking to well-known charities such as the American Red Cross or World Vision helps to ensure that your donation amount is used for authority campaigns that can be tracked and publicized. The authenticity of a cause can also be verified by Charity Navigator, which bills itself as a guide for intelligent giving.
Also, consumers should also be aware and skeptical of individuals that proactively contact them via email or phone claiming to be officials, directors or surviving victims of a popular cause. It is often easy for anyone to pick up the phone and dial a person to portray a convincing and honest request that promises to benefit those most in need, and unfortunately, this is the most common method that scammers use in obtaining credit card information from uninformed consumers. Your best bet is to ask the caller for the exact website of their charity and do some due diligence before making your donation. This step is easy but often overlooked.
A surge in Haitian charity domain names being registered since that fateful day is a key indicator to the amount of caution that should be made by consumers when making donations online or over the phone. Most of these domains names recently purchased contain the words "help" "relief" "aid" "survivors" or "donations" to trick unknowing donors of where their hard earned money is actually going. Directly into the unscrupulous individual's pocket.
One thing that consumers should do before contributing to any charity is to verify the legitimacy of that organization before giving any sort of financial or personal information over a website form, email or phone. Sticking to well-known charities such as the American Red Cross or World Vision helps to ensure that your donation amount is used for authority campaigns that can be tracked and publicized. The authenticity of a cause can also be verified by Charity Navigator, which bills itself as a guide for intelligent giving.
Also, consumers should also be aware and skeptical of individuals that proactively contact them via email or phone claiming to be officials, directors or surviving victims of a popular cause. It is often easy for anyone to pick up the phone and dial a person to portray a convincing and honest request that promises to benefit those most in need, and unfortunately, this is the most common method that scammers use in obtaining credit card information from uninformed consumers. Your best bet is to ask the caller for the exact website of their charity and do some due diligence before making your donation. This step is easy but often overlooked.
"Incorporate Business Interests With Public Good" She Demanded - A Look at Forced Philanthropy
When it comes to free market capitalism, I am much in line with Milton Friedman's philosophy, and I love to recommend his book; "The Right to Choose" and like a good capitalist, I believe that much of Ayn Rand's philosophy is also correct. And yet, I've always run my business in such a way to help the communities where our companies did their business. I've always believed that is important to give a little back as you grow, and not just scrape the cream off the top.
This is the way that I've always run my business, and therefore, I've always enjoyed reading the books of the great business titans who built their companies from scratch and did the same thing. I speak of Ray Kroc's; "Grinding It out" - Sam Walton's; "Made in America" - and Bill Gates' with his Bill and Melinda Gates foundation.
However, not long ago I was disturbed when a hard-core left-wing liberal-socialist leaning lady told me that companies "must" incorporate business interests with the public good. In fact she was very demanding of this. It concerned me, because I have always given back all my life since I was a very young man running a company, until I retired, and I still volunteer today. Not because it's mandatory, or forced upon me, but because I choose to.
The thought of having a government or a group of regulators telling me where to give my money, time, and efforts to the common good disturbed me immensely.
Indeed, I am just as disturbed with the government stealing my money through taxation and giving it to causes that I don't particularly care for, or I wouldn't give up my own money for because I don't believe they deserve it. So, being in a debating type mood, I put forth this argument to my acquaintance, while trying to be as tactful as possible, so I could get her to think through their own demands upon my civil liberties, and right to free contract.
"Creating reward systems which allow positive community results from business endeavors makes sense, what do you suggest? And have you considered the challenges and realities of what Hitler did in NAZI Germany in that regard, where he commanded, nationalized, and forced businesses to do his social bidding? What changes in such a focus would you make not to cause the "Ayn Rand" effect, as socialism aspects of such a concept, caused entrepreneurs to just quit?"
And then I asked a dubious question, one I'm sure she's not able to answer, or it would blow her whole concept; Would you imprison them if they didn't help the "common good" as per your new rules, and would you make them run the companies for you? Please consider all this, because there are nations which run like this, Bolivia, Venezuela, and others.
This is the way that I've always run my business, and therefore, I've always enjoyed reading the books of the great business titans who built their companies from scratch and did the same thing. I speak of Ray Kroc's; "Grinding It out" - Sam Walton's; "Made in America" - and Bill Gates' with his Bill and Melinda Gates foundation.
However, not long ago I was disturbed when a hard-core left-wing liberal-socialist leaning lady told me that companies "must" incorporate business interests with the public good. In fact she was very demanding of this. It concerned me, because I have always given back all my life since I was a very young man running a company, until I retired, and I still volunteer today. Not because it's mandatory, or forced upon me, but because I choose to.
The thought of having a government or a group of regulators telling me where to give my money, time, and efforts to the common good disturbed me immensely.
Indeed, I am just as disturbed with the government stealing my money through taxation and giving it to causes that I don't particularly care for, or I wouldn't give up my own money for because I don't believe they deserve it. So, being in a debating type mood, I put forth this argument to my acquaintance, while trying to be as tactful as possible, so I could get her to think through their own demands upon my civil liberties, and right to free contract.
"Creating reward systems which allow positive community results from business endeavors makes sense, what do you suggest? And have you considered the challenges and realities of what Hitler did in NAZI Germany in that regard, where he commanded, nationalized, and forced businesses to do his social bidding? What changes in such a focus would you make not to cause the "Ayn Rand" effect, as socialism aspects of such a concept, caused entrepreneurs to just quit?"
And then I asked a dubious question, one I'm sure she's not able to answer, or it would blow her whole concept; Would you imprison them if they didn't help the "common good" as per your new rules, and would you make them run the companies for you? Please consider all this, because there are nations which run like this, Bolivia, Venezuela, and others.
Wednesday, June 2, 2010
The Outsider Code and Exchange Traded Funds
If you are like the majority of hard-working, permanently employed people you will have spent your working life being urged by your government to save for your retirement and to put money by for your children's education and to invest in a home. In fact, most of the money you have ever earned has probably been channeled one way or another along these routes.
The financial markets have produced a huge array of products that compete for the business of taking your money and investing it to achieve these objectives. And because the government assumes that you are too ignorant or feckless to choose the right products for yourself it recommends, or indeed insists, that you use the services of a financial adviser when buying one of the products.
Accordingly, financial advisers and the products they sell are subject to massive regulations designed to limit what you can do with your money. This is supposedly designed for your own protection. The government does not want you frittering away your money on unsuitable financial products, losing most of it and then becoming dependent on the state in your old age. The message is that financial advisers have the expertise that you lack to direct and invest your money and that if you stick to the system you will be safe.
But guess what? It does not work.
The past ten years (25% or 30% of most people's career spans) have demonstrated that they system does not deliver the benefits it is supposed to deliver. Because the system was designed in the days when everyone assumed that the markets would continue to rise. Or at worst, would always recover to former levels after any temporary downturn. This is demonstrably no longer true. Some of the biggest banks in the world have gone bust. Well known fund managers have been exposed as criminals. Retirement funds have imploded.
For example, if you have a pension or savings account invested in, say, mutual funds, there is a 90% chance that not only is your fund way short of its projected value but it is worth less than the amount of money you have paid into it. And this is despite the fact that you have employed a qualified financial adviser, allowed him to cream off generous commissions, taken every word of his advice and done everything, absolutely everything, that the government advised you to do.
When you look at your financial statements and survey the wreckage of your supposed wealth it can make you feel like you have been robbed. Which is exactly what has happened. You have been robbed by a dishonest and corrupt system which depends on extortion for its existence and ignorance for its enforcement.
How does this make you feel? There are two types of responses to this situation. The first is to shrug your shoulders and retreat into the delusion that the market, and your money, will eventually recover and all will be well. The second response is to get mad.
When you get mad and you investigate further you'll discover that your highly paid financial adviser is little more than a salesman and has no particular expertise or experience in investing money. You will discover that fund managers are more concerned to protect their bonuses than invest your money wisely. And when you look at the regulations that are supposed to safeguard you you will find that they are worthless: there is no guarantee that your obedience to the system has protected your money at all.
In fact, you will discover that you are on your own. The systems and safeguards that are supposed to provide the security for your money patently do not work. Your hard-earned savings have been squandered away by greedy, incompetent knuckleheads propped up by a system that is impotent to safeguard you.
The lesson is clear. You must take control of your own money. You must become independent of the legalized theft that is the financial services market and you must assume responsibility for the management of your own capital. There are many, little-known financial instruments now available to independent, private investors that enable them to do just that. You owe it to yourself and your family to investigate the route to financial freedom that will enable you to rebuild your wealth.
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The financial markets have produced a huge array of products that compete for the business of taking your money and investing it to achieve these objectives. And because the government assumes that you are too ignorant or feckless to choose the right products for yourself it recommends, or indeed insists, that you use the services of a financial adviser when buying one of the products.
Accordingly, financial advisers and the products they sell are subject to massive regulations designed to limit what you can do with your money. This is supposedly designed for your own protection. The government does not want you frittering away your money on unsuitable financial products, losing most of it and then becoming dependent on the state in your old age. The message is that financial advisers have the expertise that you lack to direct and invest your money and that if you stick to the system you will be safe.
But guess what? It does not work.
The past ten years (25% or 30% of most people's career spans) have demonstrated that they system does not deliver the benefits it is supposed to deliver. Because the system was designed in the days when everyone assumed that the markets would continue to rise. Or at worst, would always recover to former levels after any temporary downturn. This is demonstrably no longer true. Some of the biggest banks in the world have gone bust. Well known fund managers have been exposed as criminals. Retirement funds have imploded.
For example, if you have a pension or savings account invested in, say, mutual funds, there is a 90% chance that not only is your fund way short of its projected value but it is worth less than the amount of money you have paid into it. And this is despite the fact that you have employed a qualified financial adviser, allowed him to cream off generous commissions, taken every word of his advice and done everything, absolutely everything, that the government advised you to do.
When you look at your financial statements and survey the wreckage of your supposed wealth it can make you feel like you have been robbed. Which is exactly what has happened. You have been robbed by a dishonest and corrupt system which depends on extortion for its existence and ignorance for its enforcement.
How does this make you feel? There are two types of responses to this situation. The first is to shrug your shoulders and retreat into the delusion that the market, and your money, will eventually recover and all will be well. The second response is to get mad.
When you get mad and you investigate further you'll discover that your highly paid financial adviser is little more than a salesman and has no particular expertise or experience in investing money. You will discover that fund managers are more concerned to protect their bonuses than invest your money wisely. And when you look at the regulations that are supposed to safeguard you you will find that they are worthless: there is no guarantee that your obedience to the system has protected your money at all.
In fact, you will discover that you are on your own. The systems and safeguards that are supposed to provide the security for your money patently do not work. Your hard-earned savings have been squandered away by greedy, incompetent knuckleheads propped up by a system that is impotent to safeguard you.
The lesson is clear. You must take control of your own money. You must become independent of the legalized theft that is the financial services market and you must assume responsibility for the management of your own capital. There are many, little-known financial instruments now available to independent, private investors that enable them to do just that. You owe it to yourself and your family to investigate the route to financial freedom that will enable you to rebuild your wealth.
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Friday, May 28, 2010
Tax Planning and Stock Investment Strategies - II
We've been looking at how Tax planning can have an effect in your tax preparation. In the first one of the series, we saw the difference between Tax Planning and Tax preparation. We also started digging in deep on how the cost basis and stock selling strategy can save you some money. In the Tax Planning - Stock Investment Strategies - I, I started explaining about different types of determining cost basis and will complete in this post. At the end of this article, you will know which methods helps on different situations. So read on.
Check out the previous article to learn about cost basis using FIFO method before moving on to read so you can better understand and appreciate the difference.Average cost is another method for determining cost basis and is only used with investment/mutual funds. To determine the average cost, the total cost of all shares purchased including any invested dividends is divided by the total number of shares held.Once this method is used, it must be used each time the taxpayer sells shares in a mutual funds. This method is most effective if the shares purchased first have the lowest cost basis.
Average cost has 2 different ways of calculating according to the stock purchased periods. The single category method is when the investor takes all of the purchase amounts and divides by total number of shares owned. The double category method sorts the total shares owned into a short-term and a long-term holding period. Then, the average cost for each category is identified.
For example, Jan buys the Vanguard growth fund
* 200 shares on January 3, 2001 at $20/share
* 300 shares on September 5, 2002 at $25/sh
* 200 shares on April 20, 2008 at $22/share
On Oct 15, 2009 she sold 500 shares at $20/share. What is her cost basis according to the average cost method?
According to the single category average cost method, she would take an average of the purchase prices and divide by the total number of shares owned:
* 200 shares at $20 = $4,000
* 300 shares at $25 = $7,500
* 200 shares at $22 = $4,400
* Total cost = $15,900
* Total shares = 700
* Average cost per share = $22.71
So the gain/loss for this sale was:
* 500 shares ($20 - $22.71) = -$1135.50
Therefore, Jan had a net loss of = -$1135.50
The specific share identification method implies that specific shares are used to apply against the shares sold.
Before selling shares, the shareholder must inform the broker or fund company regarding which shares are to be sold. These instructions must be given at the time of sale or transfer, not later. The broker or agent must confirm this request within a reasonable time after the sale.This method can be used effectively only if the shareholder has kept accurate records and has followed through on the receipt of confirmations from the broker. It allows the shareholder to control the capital gains taxes that he or she has to pay because this can be determined by selecting the shares to sell. You can tell your broker to sell your highest-cost shares when unloading part of your holdings in a stock. Using this "specific ID method" requires you to identify the shares to be sold by specifying their cost and purchase dates. You must also receive a written confirmation of your instructions from the broker or keep a record of your oral instructions. Put this in your tax file for safekeeping.
Which method is suitable and when?
Specific ID method is the best method for tax purposes because the investor has absolute control over how much the gain from a sale would be. Long term or short term gains can also be controlled. This is the preferred tax basis method for investors who actively manage their portfolio for tax efficiency.It is also not the most cost effective because of all of the effort that is required for proper record-keeping.
If you don't follow th procedure, you must use the first-in, first-out (FIFO) method, meaning the shares you bought first are considered sold first. Those were likely the cheapest - giving you the biggest possible tax hit. The point to remember is that you must take action at the time of sale to use the specific ID method.
Short term Vs Long Term
If you have both unrealized gains and losses in your portfolio, but want to make some sales in a certain way matching them property to get the best effect. First, the general rule is try to sell long-term holdings (held over 12 months) first to benefit from the 15% maximum long-term capital gains rate. Then, unload your short-term holdings.
Then in order to offer offset those gains, you can sell the loser stocks for loss to balance it out. You will generally get the most tax-saving for the buck by selling short-term holdings for a short- term loss by taking advantage of short-term losses offsetting short-term gains which would otherwise be taxed at the regular income tax rate and any leftovers then offset long-term (15%) gains.
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Check out the previous article to learn about cost basis using FIFO method before moving on to read so you can better understand and appreciate the difference.Average cost is another method for determining cost basis and is only used with investment/mutual funds. To determine the average cost, the total cost of all shares purchased including any invested dividends is divided by the total number of shares held.Once this method is used, it must be used each time the taxpayer sells shares in a mutual funds. This method is most effective if the shares purchased first have the lowest cost basis.
Average cost has 2 different ways of calculating according to the stock purchased periods. The single category method is when the investor takes all of the purchase amounts and divides by total number of shares owned. The double category method sorts the total shares owned into a short-term and a long-term holding period. Then, the average cost for each category is identified.
For example, Jan buys the Vanguard growth fund
* 200 shares on January 3, 2001 at $20/share
* 300 shares on September 5, 2002 at $25/sh
* 200 shares on April 20, 2008 at $22/share
On Oct 15, 2009 she sold 500 shares at $20/share. What is her cost basis according to the average cost method?
According to the single category average cost method, she would take an average of the purchase prices and divide by the total number of shares owned:
* 200 shares at $20 = $4,000
* 300 shares at $25 = $7,500
* 200 shares at $22 = $4,400
* Total cost = $15,900
* Total shares = 700
* Average cost per share = $22.71
So the gain/loss for this sale was:
* 500 shares ($20 - $22.71) = -$1135.50
Therefore, Jan had a net loss of = -$1135.50
The specific share identification method implies that specific shares are used to apply against the shares sold.
Before selling shares, the shareholder must inform the broker or fund company regarding which shares are to be sold. These instructions must be given at the time of sale or transfer, not later. The broker or agent must confirm this request within a reasonable time after the sale.This method can be used effectively only if the shareholder has kept accurate records and has followed through on the receipt of confirmations from the broker. It allows the shareholder to control the capital gains taxes that he or she has to pay because this can be determined by selecting the shares to sell. You can tell your broker to sell your highest-cost shares when unloading part of your holdings in a stock. Using this "specific ID method" requires you to identify the shares to be sold by specifying their cost and purchase dates. You must also receive a written confirmation of your instructions from the broker or keep a record of your oral instructions. Put this in your tax file for safekeeping.
Which method is suitable and when?
Specific ID method is the best method for tax purposes because the investor has absolute control over how much the gain from a sale would be. Long term or short term gains can also be controlled. This is the preferred tax basis method for investors who actively manage their portfolio for tax efficiency.It is also not the most cost effective because of all of the effort that is required for proper record-keeping.
If you don't follow th procedure, you must use the first-in, first-out (FIFO) method, meaning the shares you bought first are considered sold first. Those were likely the cheapest - giving you the biggest possible tax hit. The point to remember is that you must take action at the time of sale to use the specific ID method.
Short term Vs Long Term
If you have both unrealized gains and losses in your portfolio, but want to make some sales in a certain way matching them property to get the best effect. First, the general rule is try to sell long-term holdings (held over 12 months) first to benefit from the 15% maximum long-term capital gains rate. Then, unload your short-term holdings.
Then in order to offer offset those gains, you can sell the loser stocks for loss to balance it out. You will generally get the most tax-saving for the buck by selling short-term holdings for a short- term loss by taking advantage of short-term losses offsetting short-term gains which would otherwise be taxed at the regular income tax rate and any leftovers then offset long-term (15%) gains.
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Tax Calculation and Online Finance Management Tools
Paying your tax can be the most significant part of your finance every year. But to tell you the truth, it is the most irritating part too. You will have to sit down and make hundreds of calculations so that you make the required tax payment and also to make sure that you make enough savings from the tax.
This can be one of the most hectic jobs as I have said. A very few of you may be able to do this fine, but mostly of you may end up in complete confusion if you start with the tax calculations. So it is always better to take the help of some resource.
The best option I can advice is the online personal finance software. You have a very good option in the personal software that helps you to calculate your tax and other concerned things. If you do not have a family or any investment, your calculations of tax can be simple. You can easily deal with your tax. But for all those people who has got a family and lots of investments and looking for some good budgeting are totally facing a complex situation and you are definitely in need of a good tax calculating software.
So remember to make use of your tax calculation part of your online personal finance management software or tool to make your work easy. They can be very helpful not only in calculating tax, but also in helping you get enough benefits from your tax payments.
This can be one of the most hectic jobs as I have said. A very few of you may be able to do this fine, but mostly of you may end up in complete confusion if you start with the tax calculations. So it is always better to take the help of some resource.
The best option I can advice is the online personal finance software. You have a very good option in the personal software that helps you to calculate your tax and other concerned things. If you do not have a family or any investment, your calculations of tax can be simple. You can easily deal with your tax. But for all those people who has got a family and lots of investments and looking for some good budgeting are totally facing a complex situation and you are definitely in need of a good tax calculating software.
So remember to make use of your tax calculation part of your online personal finance management software or tool to make your work easy. They can be very helpful not only in calculating tax, but also in helping you get enough benefits from your tax payments.
Wednesday, May 26, 2010
Dischargeable Debts in Bankruptcy
What are Dischargeable Debts?
Through bankruptcy, many debts can be "discharged." Discharging a debts means that it is completely eliminated. required to repay You will not be required to repay the debt, and your creditors are legally prohibited from attempting to collect the debt. That protection is guaranteed once a liability has been discharged through bankruptcy.
Many liabilities can be discharged when you file for a bankruptcy. However, there may be some liabilities that you will be responsible for paying off, even after filing bankruptcy. These types of liabilities are non-discharging liabilities. A person with these types of debts will be required to pay these debts regardless of filling bankruptcy.
Discharging liabilities through bankruptcy will allow you to get out from under the crushing weight of debt. An experienced bankruptcy attorney can make sure that you can get on with your life after you file for bankruptcy.
Non-Dischargeable Liabilities in a Bankruptcy
In general the following debts will not be cleared through a bankruptcy:
Alimony
Child Support
Recent Taxes
Debt from a fraud conviction
Debt from a DUI conviction
Debt from a malicious injury conviction
Debt from other criminal activities
Most student loans
Meet With a Bankruptcy Attorney
The laws affecting dischargeable and non-dischargeable debt can change. To make sure that you are eliminating all of the debt that you legally can you need to speak with an experienced bankruptcy attorney. Your attorney will sit down with you and help you evaluate your situation and make sure that you get everything you can out of your bankruptcy.
Through bankruptcy, many debts can be "discharged." Discharging a debts means that it is completely eliminated. required to repay You will not be required to repay the debt, and your creditors are legally prohibited from attempting to collect the debt. That protection is guaranteed once a liability has been discharged through bankruptcy.
Many liabilities can be discharged when you file for a bankruptcy. However, there may be some liabilities that you will be responsible for paying off, even after filing bankruptcy. These types of liabilities are non-discharging liabilities. A person with these types of debts will be required to pay these debts regardless of filling bankruptcy.
Discharging liabilities through bankruptcy will allow you to get out from under the crushing weight of debt. An experienced bankruptcy attorney can make sure that you can get on with your life after you file for bankruptcy.
Non-Dischargeable Liabilities in a Bankruptcy
In general the following debts will not be cleared through a bankruptcy:
Alimony
Child Support
Recent Taxes
Debt from a fraud conviction
Debt from a DUI conviction
Debt from a malicious injury conviction
Debt from other criminal activities
Most student loans
Meet With a Bankruptcy Attorney
The laws affecting dischargeable and non-dischargeable debt can change. To make sure that you are eliminating all of the debt that you legally can you need to speak with an experienced bankruptcy attorney. Your attorney will sit down with you and help you evaluate your situation and make sure that you get everything you can out of your bankruptcy.
Tuesday, May 25, 2010
Performance Metrics - Guiding Management Action
Performance metrics measure chosen dimensions of an organization to allow management to assess its position and take appropriate actions to move it toward target. The key goal is performance improvement along a whole host of dimensions as selected by the organization's leadership. Additionally, performance metrics assist management, increase an organization's effectiveness, efficiency and internal control.
To be of most value to management, performance metrics should ideally be specific, simply measurable, inexpensive, easy to communicate, and capable of guiding action. Various software packages are available to help management collate, analyze and report data required for the task.
The use of performance metrics requires four steps - select key issues, important processes and customer outcomes that necessitate measurement; develop relevant metrics; define targets; and, finally, move performance towards those targets.
Perhaps the best-known performance metrics are those that relate to financial performance. For this purpose, management has available all the line items included in the externally reported statutory financial statements plus its internal management reports. Financial statement line items include well-known concepts such as total revenue, profit before interest and tax, interest expense, profit after tax, total liabilities, and net cash flow.
These financial line items, in turn, are used for financial ratio analysis. This technique involves relating two or more line items together in order to examine key areas of financial performance. These areas include revenue and cost behavior, balance sheet strength, capital structure, cash flow generation and profitability. The main audience for financial metrics is management and the owners of the organization, that is, the shareholders.
Beginning in the 1980s, organizations and their various stakeholder groups began to articulate a need for a broader set of performance metrics that reached beyond financial performance. They called for metrics that measured an organization's performance with respect to customers, employees, and the broader community.
To fill the gap, a performance metric framework known as the balance scorecard emerged during the early 1990s. Its metrics cover four areas - finance, customers, business processes plus learning and growth. The balanced scorecard was rapidly adopted by many organizations in the private sector, government authorities as well as the non-profit sector. It remains an important performance management tool today.
Corporate governance, the environment, carbon emissions, and climate change have all became areas of particular focus over recent years prompting organizations to respond by developing metrics to communicate its performance on these matters.
Performance metrics quantified for an organization need to be routinely compared against its past values to ensure improvement is being achieved. Additionally, those metrics should be compared against peer group organizations. This latter comparison is known as benchmarking and represents an important method for an organization to understand and monitor its relative competitive position.
Kevin is a published author in the electronic security world, as well as a former owner in baseball and radio. He currently consults for tech and media businesses and also writes articles, blogs, and other creative things all over the web.
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To be of most value to management, performance metrics should ideally be specific, simply measurable, inexpensive, easy to communicate, and capable of guiding action. Various software packages are available to help management collate, analyze and report data required for the task.
The use of performance metrics requires four steps - select key issues, important processes and customer outcomes that necessitate measurement; develop relevant metrics; define targets; and, finally, move performance towards those targets.
Perhaps the best-known performance metrics are those that relate to financial performance. For this purpose, management has available all the line items included in the externally reported statutory financial statements plus its internal management reports. Financial statement line items include well-known concepts such as total revenue, profit before interest and tax, interest expense, profit after tax, total liabilities, and net cash flow.
These financial line items, in turn, are used for financial ratio analysis. This technique involves relating two or more line items together in order to examine key areas of financial performance. These areas include revenue and cost behavior, balance sheet strength, capital structure, cash flow generation and profitability. The main audience for financial metrics is management and the owners of the organization, that is, the shareholders.
Beginning in the 1980s, organizations and their various stakeholder groups began to articulate a need for a broader set of performance metrics that reached beyond financial performance. They called for metrics that measured an organization's performance with respect to customers, employees, and the broader community.
To fill the gap, a performance metric framework known as the balance scorecard emerged during the early 1990s. Its metrics cover four areas - finance, customers, business processes plus learning and growth. The balanced scorecard was rapidly adopted by many organizations in the private sector, government authorities as well as the non-profit sector. It remains an important performance management tool today.
Corporate governance, the environment, carbon emissions, and climate change have all became areas of particular focus over recent years prompting organizations to respond by developing metrics to communicate its performance on these matters.
Performance metrics quantified for an organization need to be routinely compared against its past values to ensure improvement is being achieved. Additionally, those metrics should be compared against peer group organizations. This latter comparison is known as benchmarking and represents an important method for an organization to understand and monitor its relative competitive position.
Kevin is a published author in the electronic security world, as well as a former owner in baseball and radio. He currently consults for tech and media businesses and also writes articles, blogs, and other creative things all over the web.
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Financial Directors and Business Owners Should Be Clear About Their Break-Even Point
A vital number that every business owner and finance director should know is their monthly Break-Even. This is the point where the business generates sufficient profit from sales to exactly cover its fixed overhead costs. Higher sales and the business will make a profit; lower sales and there will be a loss.
Fixed overheads, as the name suggests, are the costs that tend not to vary in line with turnover. These include administrative staff salaries, property costs, insurances, stationery, equipment rental, motor expenses, depreciation, bank charges etc. When calculating the monthly fixed overhead, always remember to allocate a portion of financial costs such as accountant's fees which are billed to you once a year.
To work out your profit Break-Even sales point, you only need two pieces of financial information:
1) Total fixed overhead costs
2) The gross profit percentage (GP% or gross margin)
The gross profit percentage is calculated from the average profit that a business makes on each sale. So if you sell a product or service for £250 and your variable costs are £175, then the gross profit is £75 and the GP% 30%. If you made ten sales, the gross profit would be 10 x £75 = £750 but the GP% would still be 30%.
Now let's assume that total fixed overhead costs each month average £25,000. To calculate the sales required to Break-Even, divide the overhead costs by the GP%. £25,000 divided by 30% = £83,333.You now know that the business has to generate at least £83,333 of sales each month to avoid making a loss.
Note that the Break-Even point is not set in stone. It is a financial information tool for the business owner to use and react to. If the business is struggling to consistently generate more than the £83,333 sales needed to generate a profit, then the business owner aware of Break-Even knows that he is losing money and can immediately take remedial action.
The quickest way to reduce Break-Even is to reduce costs. If you could reduce fixed costs from £25,000 to £20,000 per month, Break-Even sales would fall from £83,333 to £66,666, a significant difference.
Clearly the other way to reduce the Break-Even point is to increase your gross margin. Ways to do this might include putting up your prices, finding cheaper suppliers or introducing higher GP% product or service lines. If the GP% could be increased from 30% to 33%, then Break-Even on fixed costs of £25,000 would be £71,428.
Combining both strategies ie cutting fixed financial overheads to £20,000 and increasing the GP% to 33% would result in a new Break-Even sales of £60,606.
What we have discussed above is PROFIT Break-Even. A variation of this, one which most business directors do not understand or appreciate, is CASH Break-Even. This can literally make the difference between business success or failure.
Break-Even recognises that fixed overhead costs include non cash items such as depreciation. More importantly, it also picks up other cash outlays that do not appear within overheads, indeed they do not appear within the profit and loss account of the business at all!
Take for example a Road Haulier who buys a lorry for £100,000. The lorry has normally has a working life of 10 years so is depreciated in the profit and loss account at £10,000 per year. The haulier can't afford to buy the lorry outright and enters into a finance agreement to pay for the lorry over 4 years.
Ignoring the impact of interest on the loan, cash repayments against the finance agreement are £25,000 per year. In this situation cash outlays of £25,000 exceed the depreciation overhead by £15,000. Based on a GP% of 30%, this means that sales have to be £50,000 per year higher to achieve CASH Break-Even than PROFIT Break-Even. Something worth knowing don't you think?
To conclude, calculating the PROFIT and CASH Break-Even sales points for your business is vital for helping manage cash flow. Making Break-Even as low as possible achieves two great outcomes. It maximises the opportunity to make profit/generate cash and, just as importantly in harder economic time, it considerably reduces the risk of business failure.
Fixed overheads, as the name suggests, are the costs that tend not to vary in line with turnover. These include administrative staff salaries, property costs, insurances, stationery, equipment rental, motor expenses, depreciation, bank charges etc. When calculating the monthly fixed overhead, always remember to allocate a portion of financial costs such as accountant's fees which are billed to you once a year.
To work out your profit Break-Even sales point, you only need two pieces of financial information:
1) Total fixed overhead costs
2) The gross profit percentage (GP% or gross margin)
The gross profit percentage is calculated from the average profit that a business makes on each sale. So if you sell a product or service for £250 and your variable costs are £175, then the gross profit is £75 and the GP% 30%. If you made ten sales, the gross profit would be 10 x £75 = £750 but the GP% would still be 30%.
Now let's assume that total fixed overhead costs each month average £25,000. To calculate the sales required to Break-Even, divide the overhead costs by the GP%. £25,000 divided by 30% = £83,333.You now know that the business has to generate at least £83,333 of sales each month to avoid making a loss.
Note that the Break-Even point is not set in stone. It is a financial information tool for the business owner to use and react to. If the business is struggling to consistently generate more than the £83,333 sales needed to generate a profit, then the business owner aware of Break-Even knows that he is losing money and can immediately take remedial action.
The quickest way to reduce Break-Even is to reduce costs. If you could reduce fixed costs from £25,000 to £20,000 per month, Break-Even sales would fall from £83,333 to £66,666, a significant difference.
Clearly the other way to reduce the Break-Even point is to increase your gross margin. Ways to do this might include putting up your prices, finding cheaper suppliers or introducing higher GP% product or service lines. If the GP% could be increased from 30% to 33%, then Break-Even on fixed costs of £25,000 would be £71,428.
Combining both strategies ie cutting fixed financial overheads to £20,000 and increasing the GP% to 33% would result in a new Break-Even sales of £60,606.
What we have discussed above is PROFIT Break-Even. A variation of this, one which most business directors do not understand or appreciate, is CASH Break-Even. This can literally make the difference between business success or failure.
Break-Even recognises that fixed overhead costs include non cash items such as depreciation. More importantly, it also picks up other cash outlays that do not appear within overheads, indeed they do not appear within the profit and loss account of the business at all!
Take for example a Road Haulier who buys a lorry for £100,000. The lorry has normally has a working life of 10 years so is depreciated in the profit and loss account at £10,000 per year. The haulier can't afford to buy the lorry outright and enters into a finance agreement to pay for the lorry over 4 years.
Ignoring the impact of interest on the loan, cash repayments against the finance agreement are £25,000 per year. In this situation cash outlays of £25,000 exceed the depreciation overhead by £15,000. Based on a GP% of 30%, this means that sales have to be £50,000 per year higher to achieve CASH Break-Even than PROFIT Break-Even. Something worth knowing don't you think?
To conclude, calculating the PROFIT and CASH Break-Even sales points for your business is vital for helping manage cash flow. Making Break-Even as low as possible achieves two great outcomes. It maximises the opportunity to make profit/generate cash and, just as importantly in harder economic time, it considerably reduces the risk of business failure.
Monday, May 24, 2010
Refinancing Closing Costs
Refinancing in general is a tricky decision as you may have to do some math to see if it is a good idea for you or not. The main idea you should keep in mind in order to choose the right deal is to search for the lowest possible rates. Ask multiple brokers and compare what each one charges and then make a decision. Many people are lately choosing to refinance because of the low rates currently available.
If you manage to lower your outlay you will save thousands of dollars and will make refinancing more profitable for you. But be aware that low expenses usually mean highest rates. It can be very easy to completely escape closing cost, but the downside is that you will pay more on a monthly basis. Lenders may even pack up the closing costs as a singular fee of a certain amount. In this case examine carefully what types of closing cost are included in the package and if it includes all the costs.
Consider the time you have had the mortgage. If most of it is over and there are left only a few years, closing costs will be higher than your overall savings. If your mortgage is newer then the benefits will not exceed your savings. This is a relative comparison so be sure to calculate exactly.
Refinancing costs may vary from one type of refinancing to another. For example a home equity loan or a line of credit will not have standard mortgage closing costs, but the rate will not be lower either. Do some online research and ask for quotes from different lenders either by asking a broker or by contacting all the preferred lenders individually.
In order to compare the refinancing option correctly leave out all the closing costs that are not from the lender, like costs from local government or from seller`s title company. This will give you a clear image and allow you to compare similar types of fees to reach a safe conclusion. Examine closely how the refinancing closing costs are listed and if they all included. Some lenders will not show all of them because it makes it all look more expensive and people would avoid them. Analyze the price of each item. Even if they show it to you it might just be an estimate.
Finally, don't fall for no cost refinance loans as they can make you spend more in the long term.
If you manage to lower your outlay you will save thousands of dollars and will make refinancing more profitable for you. But be aware that low expenses usually mean highest rates. It can be very easy to completely escape closing cost, but the downside is that you will pay more on a monthly basis. Lenders may even pack up the closing costs as a singular fee of a certain amount. In this case examine carefully what types of closing cost are included in the package and if it includes all the costs.
Consider the time you have had the mortgage. If most of it is over and there are left only a few years, closing costs will be higher than your overall savings. If your mortgage is newer then the benefits will not exceed your savings. This is a relative comparison so be sure to calculate exactly.
Refinancing costs may vary from one type of refinancing to another. For example a home equity loan or a line of credit will not have standard mortgage closing costs, but the rate will not be lower either. Do some online research and ask for quotes from different lenders either by asking a broker or by contacting all the preferred lenders individually.
In order to compare the refinancing option correctly leave out all the closing costs that are not from the lender, like costs from local government or from seller`s title company. This will give you a clear image and allow you to compare similar types of fees to reach a safe conclusion. Examine closely how the refinancing closing costs are listed and if they all included. Some lenders will not show all of them because it makes it all look more expensive and people would avoid them. Analyze the price of each item. Even if they show it to you it might just be an estimate.
Finally, don't fall for no cost refinance loans as they can make you spend more in the long term.
Services Offered by Appraisal Management Companies
For the appraiser that is looking for the appraisal work he or she needs to support his or her family, appraisal management services can provide income. Appraisal management companies, or AMC's, as they are often referred to, provide the best source of income. This is true especially since the rules and laws have brought about so many changes for the appraising industry. Now, according to law, it is necessary dues and appraising management company for over 90% of the business that deals specifically with appraising.
The good news for appraisers is that there has been a sharp decline in the amount of appraisers coming into the business, and many appraisers leaving due to the decline in finances. This leaves much more room for the appraisers that want to stay in the business to make more money. The easiest way to do this is by going through an appraisal management company. Since the laws have changed, AMC's have become more friendly, helping appraisers earn an income and providing for their needs.
The new laws, given in 2009 by HVCC, made it necessary for appraisers to deal with appraisal management companies, a group that has traditionally carried a bad reputation. Their demands for high commissions and quick turnaround times had many appraisers running the other way. However, there are many appraisal management companies in good standing, with reputations that have been established over the course of 10 or more years.
Plus, due to the change in laws, many appraisal management service companies have opened their doors, providing services that are helpful to new and experienced appraisers. The newer appraisal management companies now have more generous commissions and greater turn around times. The older companies have had no choice but to change their old policies to stay competitive.
The services offered to appraisers under new laws have opened doors that were not previously there. The services provided to appraisers now can actually help appraisers in accomplishing personal goals by giving them the incentives and income to help them prosper.
For those appraisers that have heard of some doing well with appraisal management companies, while others have not, there are some factors to consider. There is certainly no lack of work right now due to the appraisers that have quit and the new trainees that did not want to meet the newer, more stringent educational requirements. This has led a drop in the available appraisers able to do work. But with appraisal management companies, there are factors to consider, such as the specific coverage areas that these companies service. These areas can grow or shrink with the number of clients an appraisal company has. Keeping that in mind, it depends on how many clients a company has in one area as to how many appraisers they will need.
The best option of any appraiser in any area is to sign up with several AMC's at one time. This can be done online, or in person. When an appraiser signs up with more than one company at one time, he or she gives himself or herself the option of different business opportunities for multiple sources. These companies, although a negative source of help in the past, have become the principle support for many appraisers. They now offer positive income opportunities, with more friendly terms to work with.
The good news for appraisers is that there has been a sharp decline in the amount of appraisers coming into the business, and many appraisers leaving due to the decline in finances. This leaves much more room for the appraisers that want to stay in the business to make more money. The easiest way to do this is by going through an appraisal management company. Since the laws have changed, AMC's have become more friendly, helping appraisers earn an income and providing for their needs.
The new laws, given in 2009 by HVCC, made it necessary for appraisers to deal with appraisal management companies, a group that has traditionally carried a bad reputation. Their demands for high commissions and quick turnaround times had many appraisers running the other way. However, there are many appraisal management companies in good standing, with reputations that have been established over the course of 10 or more years.
Plus, due to the change in laws, many appraisal management service companies have opened their doors, providing services that are helpful to new and experienced appraisers. The newer appraisal management companies now have more generous commissions and greater turn around times. The older companies have had no choice but to change their old policies to stay competitive.
The services offered to appraisers under new laws have opened doors that were not previously there. The services provided to appraisers now can actually help appraisers in accomplishing personal goals by giving them the incentives and income to help them prosper.
For those appraisers that have heard of some doing well with appraisal management companies, while others have not, there are some factors to consider. There is certainly no lack of work right now due to the appraisers that have quit and the new trainees that did not want to meet the newer, more stringent educational requirements. This has led a drop in the available appraisers able to do work. But with appraisal management companies, there are factors to consider, such as the specific coverage areas that these companies service. These areas can grow or shrink with the number of clients an appraisal company has. Keeping that in mind, it depends on how many clients a company has in one area as to how many appraisers they will need.
The best option of any appraiser in any area is to sign up with several AMC's at one time. This can be done online, or in person. When an appraiser signs up with more than one company at one time, he or she gives himself or herself the option of different business opportunities for multiple sources. These companies, although a negative source of help in the past, have become the principle support for many appraisers. They now offer positive income opportunities, with more friendly terms to work with.
Cheap Homeowner Loans - Cheaper Then Ever
There are so many choices in the market when it comes to applying for a loan. There are some basic requirements which a user wants when it comes to taking a loan. The common needs are that the interest rates of the loan should be low. Also the verification process and the loan approval process should be as short as possible. Also the payment options should be simple and UN complicated.
These loans are applied by complete imbeciles and thus these loans should have such payment options which can be understood by 5 year old. Just wish this was a joke but it ant. The penalties or other charges like processing charges should be low as well. The paperwork should be easy and understandable to the common fool on the street.
Homeowner loans are thus a fine example of such kind of loans. Cheap Homeowner Loans are an interesting option for those who have a collateral to offer to the bank. Also that loan should be the loan applicants home. Through this option the interest rates can be lowered by the bank as now this loan has become a low risk financial product for the bank. Also the processing rates and other charges can also be lowered by the bank. One needs to understand that the bank needs a few reasons before they can actually create cheap loans for the customers consumption. These kind loans are perfect for those who do not have a saturated home when it comes using them as collateral for loans.
These loans are applied by complete imbeciles and thus these loans should have such payment options which can be understood by 5 year old. Just wish this was a joke but it ant. The penalties or other charges like processing charges should be low as well. The paperwork should be easy and understandable to the common fool on the street.
Homeowner loans are thus a fine example of such kind of loans. Cheap Homeowner Loans are an interesting option for those who have a collateral to offer to the bank. Also that loan should be the loan applicants home. Through this option the interest rates can be lowered by the bank as now this loan has become a low risk financial product for the bank. Also the processing rates and other charges can also be lowered by the bank. One needs to understand that the bank needs a few reasons before they can actually create cheap loans for the customers consumption. These kind loans are perfect for those who do not have a saturated home when it comes using them as collateral for loans.
Thursday, May 20, 2010
Couples Taught How to Plan For Their Financial Future
Financial woes cause stress in partnerships
Job security and monthly financial budget plans are two increasingly common topics that couples might be discussing over dinner. Given the ongoing financial turmoil, a laissez faire attitude to personal finance that many couples adopted in the recent past is seen by experts as an increasingly risky move. An article in the Atlanta Journal Constitution advises couples to communicate openly about financial concerns and seek outside help if needed to effectively collaborate on financial budget plans and financial security expectations.
Financial budgeting, spending plans, job security, and retirement planning are some of the pressing issues couples are discussing in an effort to weather the financial downturn, says the article. As a reminder to couples working on personal finance issues, this week is recognized by many companies and government organizations including the IRS and Federal Reserve Board as America Saves Week.
America Saves Week, coordinated by savings coalitions America Saves and the American Savings Education Council, seeks to encourage individuals to take steps to "build wealth, not debt." Through a variety of events, programs and press releases the participating organizations are using this savings campaign as a way to educate individuals and households on the importance of financial security, ways to improve their current standing and how to plan for their financial future.
Mounting credit card losses spell trouble for financial services company, investors
Investors fear a lower dividend as mounting credit card defaults wreak havoc for Capital One. The McLean, VA-based financial services company reported an increase in its annual net charge-off rate for U.S. credit cards as well as a spike in loans delinquent for at least 30 days, according to a Reuters article. Both of these credit metrics could spell bad news for investors as Reuters is reporting some analysts now expect the company to slash its 2009 dividends.
Capital One, a large issuer of Visa and MasterCard credit cards, will need to set aside money to pay for the expected losses. Some cash-strapped consumers struggling to make ends meet due to layoffs and tumbling stock prices are turning to credit cards as a means of last resort spending, often unable to make the minimum payments. Many are aware that these missed due dates will have a lingering effect on credit scores and credit reports, but are caught up spending regardless.
Job security and monthly financial budget plans are two increasingly common topics that couples might be discussing over dinner. Given the ongoing financial turmoil, a laissez faire attitude to personal finance that many couples adopted in the recent past is seen by experts as an increasingly risky move. An article in the Atlanta Journal Constitution advises couples to communicate openly about financial concerns and seek outside help if needed to effectively collaborate on financial budget plans and financial security expectations.
Financial budgeting, spending plans, job security, and retirement planning are some of the pressing issues couples are discussing in an effort to weather the financial downturn, says the article. As a reminder to couples working on personal finance issues, this week is recognized by many companies and government organizations including the IRS and Federal Reserve Board as America Saves Week.
America Saves Week, coordinated by savings coalitions America Saves and the American Savings Education Council, seeks to encourage individuals to take steps to "build wealth, not debt." Through a variety of events, programs and press releases the participating organizations are using this savings campaign as a way to educate individuals and households on the importance of financial security, ways to improve their current standing and how to plan for their financial future.
Mounting credit card losses spell trouble for financial services company, investors
Investors fear a lower dividend as mounting credit card defaults wreak havoc for Capital One. The McLean, VA-based financial services company reported an increase in its annual net charge-off rate for U.S. credit cards as well as a spike in loans delinquent for at least 30 days, according to a Reuters article. Both of these credit metrics could spell bad news for investors as Reuters is reporting some analysts now expect the company to slash its 2009 dividends.
Capital One, a large issuer of Visa and MasterCard credit cards, will need to set aside money to pay for the expected losses. Some cash-strapped consumers struggling to make ends meet due to layoffs and tumbling stock prices are turning to credit cards as a means of last resort spending, often unable to make the minimum payments. Many are aware that these missed due dates will have a lingering effect on credit scores and credit reports, but are caught up spending regardless.
In Times of Economic Troubles the Price of Gold is Rising
The price of gold is rising. Not so amazing if you see that the value of the euro is going down. And all of this thanks to the European country Greece that was not able to implement national budget restrictions and recently had to be rescued by the rest of the European Union (EU). Billions and billions of dollars are going to Greece in order to save the country. In times of economic troubles - and this is a biggie - gold becomes a last resort for investors to put their money safe.
The countries in the European Union are obliged to keep their budget deficits within 3 percent. This way the euro would keep its strength. That agreement has been infringed right from the beginning. Not every country is able to control its political forces though. Since the European Parliament has no real power, fines cannot be handed out; only pleas...
It is not only Greece that is in trouble; Spain and Portugal are the next countries the EU has to rescue. The Mediterranean countries tend to pay their civil servants far too much salary - together with jobs for life - and do not put away enough money to pay out the pensions to their seniors. So it are the West- and North European countries that have to bail these countries out.
You can imagine that the rest of the EU is not in favor to hand out billions here and billions there. At least not without any strict guarantees; although everybody knows guarantees are worth nothing when it comes to the point. They look nice on paper though.
The financial markets know all this as well and that is why the euro is going down like a brick in the water. Together with the European governments having to rescue Greece and possibly Spain and Portugal that means that all European people are now fearing for their private finances. Those who have been scrimping and saving can wave their money partly goodbye; our pensions will not be what they promised to be when we started the pension plan.
This is where gold comes in as our last resort too... Not only for the rich and famous, but also for the common man. Everyone can buy gold on the internet or through sales persons these days. Just remember that you buy bullion gold. Coins are very nice for collectors but not worth as much in the future as the good old physical gold. With the value of gold being stable for centuries and climbing in worth as well the owners of physical gold secure their financial future.
The countries in the European Union are obliged to keep their budget deficits within 3 percent. This way the euro would keep its strength. That agreement has been infringed right from the beginning. Not every country is able to control its political forces though. Since the European Parliament has no real power, fines cannot be handed out; only pleas...
It is not only Greece that is in trouble; Spain and Portugal are the next countries the EU has to rescue. The Mediterranean countries tend to pay their civil servants far too much salary - together with jobs for life - and do not put away enough money to pay out the pensions to their seniors. So it are the West- and North European countries that have to bail these countries out.
You can imagine that the rest of the EU is not in favor to hand out billions here and billions there. At least not without any strict guarantees; although everybody knows guarantees are worth nothing when it comes to the point. They look nice on paper though.
The financial markets know all this as well and that is why the euro is going down like a brick in the water. Together with the European governments having to rescue Greece and possibly Spain and Portugal that means that all European people are now fearing for their private finances. Those who have been scrimping and saving can wave their money partly goodbye; our pensions will not be what they promised to be when we started the pension plan.
This is where gold comes in as our last resort too... Not only for the rich and famous, but also for the common man. Everyone can buy gold on the internet or through sales persons these days. Just remember that you buy bullion gold. Coins are very nice for collectors but not worth as much in the future as the good old physical gold. With the value of gold being stable for centuries and climbing in worth as well the owners of physical gold secure their financial future.
Gold-to-Go is a Way to Save Money For the Future
We are all used to taking money out of a "machine". Ever since the ATM's were installed we enjoy the luxury to withdraw cash whenever we want to. A convenience that is now also possible for people who want to save physical gold for their future. In several countries in the world gold machines make this possible.
Taking out newspapers, drinks, tobacco, snacks, condoms, chewing gum and even fresh flowers out of a machine is as natural for us as a Nintendo is for 7 years old. Taking out some cash for the evening or for shopping for groceries as well - we do that for decades already! But physical gold... putting in money, getting back gold... is kind of new to us all.
Although not in Hong Kong. A friend of mine has been there a couple of years ago and reported you can buy bullion gold there out of a machine. And why not? Everybody knows paper currency is getting worth less and less; as long as governments think they can print money like newspapers are printed, their national currency goes down in value. Apparently they do not care too much about that. It is more important to keep your own citizens happy, that is if those citizens do not understand how the world economy functions.
Gold on the contrary is a very stable commodity to have. Ever since gold exists the value has stayed the same or has risen. So buying one or two grams of gold from the machine is a very sensible thing to do if you want to provide for your family in the years to come. Small quantities are always exchanged by banks worldwide - they are obliged to do so. Not a big bar of gold (then they have to call the cops) but small quantities.
Now last week a gold machine is also installed in Abu Dhabi by the German entrepreneur Thomas Geissler. Gold-to-Go the machine is called, and the Gulf area is of course a nice spot to launch his machine, which was tested in Germany in 2009. Geissler's timing could not be better with all the economic troubles the world is going through. Gold is a safe haven for both investors and the common man.
Three countries where you can buy gold through a hole in the wall... you just have to wait a little while till that number is doubled, tripled and what not. Soon every country will have its own golden gold machines, thus keeping their citizens happy as they now can put away money for the future safely. No risk of evaporating pensions, worthless saving accounts, ignorant or crooked politicians and stupid bank managers who all together make a country's economy go bankrupt.
Those who go for bullion gold - bought through a sales person, a Gold-to-Go machine, the internet - are sure of a golden situation once they need the money. That is what gold does: making you feel secure, especially in unstable times.
Taking out newspapers, drinks, tobacco, snacks, condoms, chewing gum and even fresh flowers out of a machine is as natural for us as a Nintendo is for 7 years old. Taking out some cash for the evening or for shopping for groceries as well - we do that for decades already! But physical gold... putting in money, getting back gold... is kind of new to us all.
Although not in Hong Kong. A friend of mine has been there a couple of years ago and reported you can buy bullion gold there out of a machine. And why not? Everybody knows paper currency is getting worth less and less; as long as governments think they can print money like newspapers are printed, their national currency goes down in value. Apparently they do not care too much about that. It is more important to keep your own citizens happy, that is if those citizens do not understand how the world economy functions.
Gold on the contrary is a very stable commodity to have. Ever since gold exists the value has stayed the same or has risen. So buying one or two grams of gold from the machine is a very sensible thing to do if you want to provide for your family in the years to come. Small quantities are always exchanged by banks worldwide - they are obliged to do so. Not a big bar of gold (then they have to call the cops) but small quantities.
Now last week a gold machine is also installed in Abu Dhabi by the German entrepreneur Thomas Geissler. Gold-to-Go the machine is called, and the Gulf area is of course a nice spot to launch his machine, which was tested in Germany in 2009. Geissler's timing could not be better with all the economic troubles the world is going through. Gold is a safe haven for both investors and the common man.
Three countries where you can buy gold through a hole in the wall... you just have to wait a little while till that number is doubled, tripled and what not. Soon every country will have its own golden gold machines, thus keeping their citizens happy as they now can put away money for the future safely. No risk of evaporating pensions, worthless saving accounts, ignorant or crooked politicians and stupid bank managers who all together make a country's economy go bankrupt.
Those who go for bullion gold - bought through a sales person, a Gold-to-Go machine, the internet - are sure of a golden situation once they need the money. That is what gold does: making you feel secure, especially in unstable times.
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