Manager For Your Finance – Debt Management Solution

Posted on Posted in finance, money

Managing your finance is a tougher job when you are carrying lots of debts with yourself. Either you have taken loans or any other form of debts in the past; this may solve your financial problems. But the real story begins when the time for repayment arrives. It makes us put all our effort to calculate the installation amounts and plan our monthly budget. After doing all the hard work at last we came to know that our finances are not meeting up the expenses. Than what are we left with ???? ….. only debts and more debts ??? At such moments you need to find your debt management solution for your troubles.

Debt Management Solution is provided by financial consultants and agencies at some charge. The solution basically means a form of financial advice regarding how can and how you should manage your money so that you can easily bear your expenditure and simultaneously making repayments of the loan amount. The most common suggestion or recommendation given by these agencies is consolidation of debts.

The debt consolidation in a single line can be defined as reducing your debts in number by taking a loan and paying all your debts. Now their remaining a single debt and that too too low rate of interest. This cuts down your monthly expense to a larger extent. The other thing which needs to be taken care of is to minimize your use of credit cards, use a debt card instead. Following are the services provided under debt management solution:

o Debt consolidation advices from professionals.

o Debt consolidation programs and debt reduction.

o Advices and facts about bankruptcy.

Applying for a Debt management solution is very easy through online option. The application form consists of details such as your name, permanent address and contact information, residential status (whether you are home owner, tenant or living with parents), email ID for communication, home and work phone, amount of debts with you at present, details of debts, accept the terms and conditions after reading them and click on submit to get the further assistance from the advisers.

Debt management solution can help you write off nearly 90% of your debts. Advisers and consultants will talk to your lenders; negotiate with them for loan repayments installments. As the installation become smaller, debts become lesser, interest rates goes down, automatically your expenditure will decrease and you will be able to live a better life without the financial stress and tensions. …

Business Analyst in Insurance Domain

Posted on Posted in business, finance, insurance

The right balance of information and technical know how is needed for a Business Analyst to successfully complete his job in any sector. This dictum applies to the Insurance sector as well. A Business Analyst should be well versed with the information that is needed for any Insurance professional to work in the Insurance domain. Since he has to analyze the processes and then help in the development of essential software for the projects in the Insurance sector, he needs to have both – the information required of an Insurance professional and the technical knowledge required for the establishment of software designed for this sector.

Insurance as is known is generally divided into three major divisions: Life Insurance (dealing with safeguarding life and the risk of mortality and critical illnesses), General Insurance (dealing with the risk of damage to immovable property, motor, cargo, marine, household, and fire insurance), health insurance (dealing with risk of illness and disease, and thus covers reimbursements, medical claims, operation of panel doctors, cashless hospitalization, co payment etc.) The level of knowledge and range required is different in each stream and hence a Business Analyst has to have a certain demonstrable understanding of the workings of the particular streams in the sector and also desirably, adequate level of experience in the sector.

Functional Knowledge of Insurance applications is also essential, like new business, channel management, policy serving, claims management, underwriting, reinsurance and finance. Along with knowledge of the business processes of the particular client company, a brief and thorough understanding of the requirements given by the regulatory authority of the Insurance industry is also mandatory. The terminology is varied for the Insurance sector, with changes even within the sector, for the different streams of the sector. Knowledge of these unique terminologies will help the Business Analyst to understand the client who is the end user's expectations and he will be able to draft them better into requirements efficiently.

Once functional requirements are known, the technical knowhow is also essential for any good Business Analyst to communicate to his software developer's team about the client user's expectations from the project. The Business Analyst should be aware of the basic MS Office tools such as MS Word, MS PowerPoint, MS Excel, MS Access, and MS Project.) These help in collating data and presenting it in proper format. Then knowledge of relational databases is also important for understanding the technicalities of Querying and Support. Basic programming languages ​​that are used by software developers should also be known to the Business Analyst so that he can understand the developer's problems or point of view. These programming languages ​​could be ASP, Dot Net, JAVA, J2EE, XNL, HTML etc. In addition to these, knowledge and experience in insurance business applications, content management systems, portals, data warehousing tools can give any Business Analyst that extra edge over others standing next to him.

Thus, it's quite clear that a Business Analyst in the Insurance domain needs to know both sides of the coin – …

How Can I Get Free Money To Start My Own Business

Posted on Posted in business, finance, money, personal

So you want to launch your very own business or product but you do not have the funds to get you started. That can be a major problem. In order to make your business venture become a reality, you will need to have financing in place in order to develop, manufacture, launch and market your business.

Now you must ask yourself the all important question:

How Can I Get Free Money To Start My Own Business?

Well, It's easier than you might think, but first let's entertain some options.

1. You can use your own personal savings. That's assuming that you've managed to sock away a huge amount of money and you've got nothing better to do with it but some how I doubt that is going to be the case.

2. You can always beg, borrow or steal (just kidding) from friends or family members. This option may work for you if you only require a small small loan, However, most business start ups require a much larger amount of money, the kind of money that friends and family simply do not have available, let alone be willing to lend it to you.

3. A more obvious solution would be to take out a bank loan. Sounds easy enough right? Wrong! You'll need to come up with an extensive business not to mention a multitude of solid reasons why your business is worth investing in and prove that you will be able to pay back the loan in a reasonable amount of time.

4.If you have multiple credit cards with very large spending limits you could consider using them to finance your business, however, when you consider the high interest rates associated with credit cards I'm sure you'll agree that this is strictly the way to go. The high interest rates you will have to pay will likely put you into further debt and put business at risk ..

5.Finding Investors is often another consideration but you will find them to be next to impossible to come by when you are first starting out, unless you have a bullet proof business plan that will guarantee high returns quickly, investors simply will not be interested in putting their money at risk.

6.From my own personal experience I have found that the best avenue for locating free money for a small business venture is via state & federal grant programs. The government provides billions of dollars in grant money for business start ups every year, and you do not have to jump through hoops to get it.

So the next time you ask yourself … How Can I Get Free Money To Start My Own Business? I suggest that you save yourself the hundreds of hours it will take you to search individual offerings, by simply accessing a Government Grant Directory, as they will have an extensive database of all government grants available to you. They typically charge a very small, one time fee but you will find it to be …

You Think You Know How To Spend Money?

Posted on Posted in finance

Do you think you really know how to shop? How do you calculate how much you pay the next time you take a loan? Do you have a system whereby you know how much is it that you can afford the next time you buy a car or a house?

You just bought a car. The installation is around $ 650 a month and you are determined that you can afford to pay the installation. You calculated the interest rate, term of loan and depreciation value and you are very sure that you can afford to maintain the car. After six months driving your car, you feel the pinch of paying your installation and you have a lot of bills, parking tickets and fines that you have not settle.

What do you do after this? You spend less, you travel less to save on your petrol and when all else fails, you decide to sell the car. However, you still have to carry on driving the car because you still have not breakeven your loan wit the finance company. For all you know, you are stuck with your car and financial problem start coming in like termites. Does this sound like you or at least sound like someone that you know?

I am not here to tell you not to buy a car or to nag you that made the wrong choice buying the car. I am not even here to tell you to avoid taking loans and to buy your car in full cash. However, what I am going to do is to teach you how to calculate whether you can afford or not.

You may think that I am talking nonsense and that I do not do a thorough research on this topic. Well, think again. It's because I see this problem too often that thought about it for three days in a row and try to think of a way to tell people on how to calculate the right way. A method a nine year old will know how to apply!

The method that I am going to share with you is simply what I call the 'Percentage Calculator TM'. Let me share with you how. Human beings are better at number 0 to 100. What a better way to calculate everything in percentage. If you say $ 2500 (100%), savings is $ 500 (20% of income), expenditure including mortgage or rental is $ 1500 (60% of income), you are only left with 20% of your income that is $ 500.

With 20% of your income left, and knowing that you expenditure is kept at the minimum, do you want to buy a car still? You may disagree with me and tell me that with $ 500 you can still afford to pay your monthly installments. I totally agree with you but does this mean you would give up your shopping, holidays and entertainment? So, my advice is, the next time you buy something in installment or …

Your Own Business vs Network MLM Marketing

Posted on Posted in business, finance

There comes a time when we start strict considering starting our own businesses. At this point in searching which route to take, we are presented with so many ideas by our own minds, we find Network Marketing opportunities and they prove promising, we also find all this information which promises to make us wealthy.

Some reasons to start your own home business could include:

– Having small children and need some extra income, but do not wish to leave the home to work.
– There may not be any jobs available where you are from.

– Or you may just be sick and tired of working for someone else.

– You may not have adequate transport to take you to work or getting to work would be a difficulty.

Whatever your reasons for wanting to start your own work from home home business, starting your own home business can be the way of securing your long-term financial future. One thing to keep in mind is that this is a risky route, but working for someone else who could easily make you redundant is also risky. So it lets venture on

Now, we desire to start our own business and we will. Whether it is a small business or a large business, what will determine the route you take will depend on your needs. In this article I am more focused on beginning a small home business and growing it larger than a business which you may need large financing for.

We now have two options available to us in starting our own work from home, home business. We can either go and blaze our own route with our own idea for a home business or join a Network Marketing opportunity. There are benefits to be had with both, some benefits why you could choose one other the other are:

::: Your own work from home home business idea :::

– You want full control of every aspect of the business

– You want to do the planning of the business

– You want to create your own product or concept

– You can get finance for your business

– You can invest full time into your home business

– You know how to run a business

::: Join a Network Marketing home business opportunity :::

– You do not know much about business or it is your first time in business

– You want to operate part time

– You want to get started right away

– You want to get started with most minimum of investment

– You want access to something that works and is proven

– You want blueprints and a downline to help you succeed

As you can see with both options of whether you choose a home business or a Network Marketing opportunity for a first home business, it all depends on your current resources. Running your own home business with your own concept, idea or product is a great way to build something big, …

Equity Financing: The Accountants’ Perspective

Posted on Posted in business, finance, money, personal

Growing up it has always been said that one can raise capital or finance business with either its personal savings, gifts or loans from family and friends and this idea continue to persist in modern business but probably in different forms or terminologies.

It is a known fact that, for businesses to expand, it’s prudent that business owners tap financial resources and a variety of financial resources can be utilized, generally broken into two categories, debt and equity.

Equity financing, simply put is raising capital through the sale of shares in an enterprise i.e. the sale of an ownership interest to raise funds for business purposes with the purchasers of the shares being referred as shareholders. In addition to voting rights, shareholders benefit from share ownership in the form of dividends and (hopefully) eventually selling the shares at a profit.

Debt financing on the other hand occurs when a firm raises money for working capital or capital expenditures by selling bonds, bills or notes to individuals and/or institutional investors. In return for lending the money, the individuals or institutions become creditors and receive a promise the principal and interest on the debt will be repaid, later.

Most companies use a combination of debt and equity financing, but the Accountant shares a perspective which can be considered as distinct advantages of equity financing over debt financing. Principal among them are the fact that equity financing carries no repayment obligation and that it provides extra working capital that can be used to grow a company’s business.

Why opt for equity financing?

• Interest is considered a fixed cost which has the potential to raise a company’s break-even point and as such high interest during difficult financial periods can increase the risk of insolvency. Too highly leveraged (that have large amounts of debt as compared to equity) entities for instance often find it difficult to grow because of the high cost of servicing the debt.

• Equity financing does not place any additional financial burden on the company as there are no required monthly payments associated with it, hence a company is likely to have more capital available to invest in growing the business.

• Periodic cash flow is required for both principal and interest payments and this may be difficult for companies with inadequate working capital or liquidity challenges.

• Debt instruments are likely to come with clauses which contains restrictions on the company’s activities, preventing management from pursuing alternative financing options and non-core business opportunities

• A lender is entitled only to repayment of the agreed upon principal of the loan plus interest, and has to a large extent no direct claim on future profits of the business. If the company is successful, the owners reap a larger portion of the rewards than they would if they had sold debt in the company to investors in order to finance the growth.

• The larger a company’s debt-to-equity ratio, the riskier the company is considered by lenders and investors. Accordingly, a business …

Tips For Saving Money

Posted on Posted in business, finance, money, personal

Still living from pay to pay? Or envying those great wealth accumulators and wondering how they did it? Every month you make a resolution of saving some dollars from your paycheck, but only end up breaking it. Looking for some magic formula for saving money?

Well, there's no magic formula-only some simple rules to be followed with determination and persistence.

Have you ever taken consumer credit-the credit used for personal finance? If not, then that's where you're missing. Those wealth grabbers, who are the subject of your envy, have smartly used the borrowed money and became rich. They did not hesitate in taking credit, and considered it as a valuable financial asset.

Credit is not something bad. On the contrary, it makes your life convenient and prevails you from falling in a tight spot. Yes, I know that your goal is to be a financially secure individual. We all have the same goal, do not we? Despite harboring such strong goals, many of us are scrapping every month, with no money left to fall back up on at the end.

I do not intend to entangle you in the intricacies of finance, but want to present before you, some simple rules that would help in saving some dough. But promise me that you'll put them to practice regularly. Although it takes some time-years maybe-to get the full results, yet the trick lies in perseverance.

Spruce your knowledge-get smart!
I'm not telling you to glue your eyes to the television watching the stock market or enrolling for a finance degree. What I want you to do is arm yourself with the basics of the market so that you do not make wrong decisions that cost you money. Intelligent decisions are the key towards a flourishing business.

Patience pays!
Without you win a lottery, do not think of getting rich overnight. But with time you can certainly think of owning bundles of those crispy dollars. So start saving your money as soon as possible. Let compound interest bestow you with its benefits. I hope you know about compound interest-it is the reinvestment of your already invested earnings. However, do not lose heart when you find your first reinvested earnings to be a petty amount. Initially, they are small, but over the years you'll watch them magnify.

Set a flexible goal
Do not be a ship without anchor. Set some financial goals in life so that you know your target. This will boost your confidence and you'll be able to visualize yourself better in the future years. I would suggest having flexibility in your goals. This is because situations are never the same, they keep on changing and you'll have to change with them too. Here, you can not be rigid in your ways. Keep reviewing your goals and-better still-select a good financial advisor that would assist you in achieving your goals.

Get rid of large debts
Want to know a wise way? Start paying off all your debts that have double-digit interest …

Foreign National Commercial Mortgage Loan Basics

Posted on Posted in finance

As US dollar is becoming stronger and commercial real estate values are rising by the day, foreign buyers can have a real incentive for buying an investment property-whether it is commercial or residential. Persuading foreign investors to speculate in US economy has different incentives as well.

Some facts that are worth reading

As per National Association of REALTORS®, foreign buyers, until March 2014, invested in excess of $99.2 billion US residential real estate. These figures continue to soar with time. So every international buyer who can afford to invest in US properties and who look forward to living abroad should invest in the country’s real estate investment market.

When problem hits foreign real estate investors

Options for an international real estate buyer to pick from can be significantly limited as they will generally have to provide a:

  • U.S Federal Tax Identification Number
  • U.S Bank Account
  • State Certified Corporation, LLC, LP, or any active company
  • Proof of residence

And if a foreigner is incapable to furnish any of these docs, then the person will doubtlessly be ineligible to get a traditional mortgage and other similar financing options. Foreign buyers, however, can pay in cash-but as interest rates are low across the United States, it is preferred for buyers to finance their investments. And that is when a foreign national loan can be of great help to any foreign realty investor.

Understanding foreign national commercial mortgage loans

Foreign national commercial mortgage loans are available to every non-US citizen who are look forward to investing in any domestic property. However, any foreign national will not find this mortgage in traditional banks. And even the terms and conditions or requirements of this specific loan will vary from one lender to another.

Generally, foreign national mortgage lenders offer this loan type at down payments that start anywhere around 30 percent of the buying price. However, the down payment can even go as high as 40 percent-that depends on the size of the loan that any foreigner may apply for.

Apart from large down payments, this loan is similar to a traditional loan. The process of securing this loan is just like the one followed to get a domestic loan. For building a borrower profile, lenders will need:

  • Their passports
  • A Tax Identification Number given by the Internal Revenue Service
  • Asset proof that is verified by any global financial institution
  • A Letter of Professional Reference From An Accountant and or Banker

Foreign borrowers will generally have to pay a higher interest rate than the ones given by US residents. But borrowers may get a commercial mortgage with an annual interest rate as low as five percent because of larger down payments and historically low interest rates.…

Financial Abundance – 5 Factors

Posted on Posted in finance, money, personal

As an “Abundant Life Coach” I get asked about the meaning of “financial abundance” very often. What this means to you can be the difference between living the lifestyle of your dreams, or settling for something less than your dreams. I want you to live the life of your dreams!

Here, then, are 5 Essential Factors of Financial Abundance:

“The Abundant Mindset”

Thousands upon thousands of books, articles, media, programs, and so much more have been produced that discuss the awesome power of our minds, and the influence of our thinking upon our lives. It is difficult to say enough or emphasize enough that truth. As I see it, we are exactly as we think.

In my work, I recommend the adoption of an “Abundant” mindset. This means so much more than finance or money, however, for the purposes of this article, I will discuss abundance only as it applies to the world of money and finance.

A financial abundance mindset means enjoying an abundant amount of money, and yet not allowing greed. Greed does not work (sorry, Gordon Gekko). Of course “financial abundance” will be a relative concept; it will probably mean something different to each person. Greed, however, is fairly obvious; it is almost like knowing (within your mid or heart) the difference between right and wrong.

Further, a financial abundance mindset means having the monetary means or resources to enjoy an abundant lifestyle, yet balancing your financial wealth with philanthropy and generous giving (see point 4). When one’s personal motives are clearly defined and one’s goals are aligned with those motives, then financial abundance becomes clear.

“Specialized Knowledge”

The largest difference between the rich and poor (or the “haves” and “have-nots”) is knowledge. Or, more specifically, the largest difference is a specialized knowledge; meaning that they have the “right” knowledge and also know how to use that knowledge to their advantage. In other words, specialized knowledge is the information or data itself, coupled with the wisdom to know how to use the information or data.

For many, specialized knowledge is an academic education such as medical or law school, while for others this might mean computer programming, aviation repair, or something. Further, many of those with a financial education know how to leverage their own money to make more money. Obviously the point is that specialized knowledge translates to earning ability.

“The Power of Compounding Interest and Investing”

For many people, diligent savings and investment of a consistent percentage of income over considerable lengths of time has lead to financial abundance. I would certainly add that economic factors always play a significant role with regard to risk in investments. Even so, living well within one’s means while investing and saving can very often lead to financial abundance.

“Generous Giving”

Generosity does not necessarily mean giving away or donating money. Mr. Zig Ziglar has said: “If you can dream it, then you can achieve it. You will get all you want in life if you help enough other …

Bridging Finance – Advantages and Disadvantages

Posted on Posted in finance, money

The most important advantage of using Bridging Finance is that you can complete the purchase of a new property before the sale of your existing property has completed. As organising the sale of your existing property and co-ordinating the purchase of a new property can be extremely difficult and create stress and pressure. If there is enough equity in your existing property you may be able to incorporate the finance needed for all of the fees involved. A Bridging Finance Loan is a temporary home loan which enables a purchaser to buy the property of their choice without being held up by the lengthy sales process. This can be a huge plus when you find the property for you and you do not want to risk losing it through a lengthy chain in your sale. You can also use Bridging Finance to avoid moving into rented accommodation and move straight into your new home.

Bridging Finance also has the advantage of having a quick process and has many different uses. It can be used for funding auction finance, first and second mortgages, home renovation and refurbishment, new-build development and construction as well as debt consolidation. Many Bridging Finance providers offer a option to defer fees to be charged until the completion of your sale and then added to your new mortgage, this can be useful in keeping the costs down.

There are several disadvantages when using Bridging Finance that you should be aware of before choosing this route. You may be required to have sufficient equity in your current property to support the purchase of both properties. As well as this you should also note that until your existing property is sold your interest payments will keep adding up, this can lead to difficulties if you do not sell your property quickly. Taking out a Bridging Finance home loan may force you to sell your property at a price lower than you wish to due affordability. You will be charged interest on the entire amount of the new loan. A Bridging Loan is only designed for short term use to bridge the gap between your purchase and sale usually only between 6 to 12 months, obviously the shorter the term of the loan the less cost there will be to you.

When using Bridging Finance you will pay a higher rate of interest this is because Bridging Finance is seen as riskier by the lender. It can be difficult to find a bridging loan this is because the risks are high so not many lenders are involved in the bridging market. There usually is a large amount of paper work and money involved as the finance covers two properties. As the loan is short term lenders do not make the same kind of money as with a traditional mortgage. This makes providing Bridging Finance less attractive for lenders and subsequently results in there not being many available lenders in the market. So when you need a bridging loan quickly this …