November 2015

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You ever hear that saying "time is money"? It feels like I've personally heard it a thousand times from a thousand different people. Even though that phrase is overused and annoying sometimes, it doesn't mean that it isn't true. Another common phrase is "money makes the world go around". Of course money isn't the physical source that causes the earth to rotate on its axis, but it does play a part in everything humans do on this earth. Money can take many forms, be used for multiple purposes, and can dictate whether someone lives or dies in extreme cases. As much as we would love for everyone to be equal and on a level playing field, that world only exists in fantasy land. The truth is that people who don't have money want it, and people who do have it want more. The more you have, the more options become available to you.

Since I can remember I've had an interesting relationship with money and how I choose to use it. I was raised by a single mom, who worked extremely hard to make sure my sister and I had a roof over our heads, food to eat, and clothes on our backs. To say it plainly, I don't come from a lot. As an observant young kid I noticed that at a relatively early age. As a kid I got $100 from my grandma every birthday. Most kids would hit the mall, toy store, or any store that contained something they wanted because that money would burn a hole in their pocket. I on the other hand always waited. It wasn't that I didn't want toys, new clothes, or something shiny to impress the ladies with. I just knew that I felt better with the money in my pocket then spending it on something that I could only use, or wear at certain times. My goal was to save it and use it only for emergencies or until I found something that could help me in the long run.

The issue most consumers have is that many think for the moment. That video game is popular right now. This style of shoes is in right now. These are the same shades that so and so had on in his music video. Fast forward six months from now and who cares about any of that. The video game is old, the shoes are last season, and the shades are from a video of a song that no one can stand anymore. Why not think six months ahead before spending that money.

The trick is to imagine every transaction as an investment. Of course paying bills, buying groceries, and putting gas in one's car are essential. It's the non-essentials that one should concentrate on. Everything we do costs money, going to college, on vacation, to the gym. Time is really money. What you invest your time in dictates what results you get in life. Same rules should be applied with daily transactions. Every time you make a transaction, think about what payoffs and consequences buying that product or service will get you in the future. Steer away from the impulse buy and embrace the investment buy.

Newbie 9:36 AM Admin Bandung Indonesia

Spending Equals Investing

It continues to amaze me how many businesses don't want to create a budget. They would rather operate their business blindly than to create a profitable plan so they can prosper in the upcoming year.

Not having a budget can cost you a lot of time and money. Unnecessary time and money. So I am going to share with you five ways that a budget can save your business.

1. Creates structure

If you haven't learned by now, creating or starting a business is very similar to a building structure. You have to have a foundation which is your business plan. You have to erect the pillars that will hold up the ceiling. These are your principles and processes you plan to implement in your business. And you have to have the ceiling to help keep you covered. And this is your plan around the inflows and outflows of the money in your business. Your financial goals.

A budget helps keep you covered and protected from the uncertain elements of business by preventing you from spending beyond your financial means. It is THE financial tool needed to help you reach your goals. It is the guideline by which your business will be funded and operated.

2. Makes you aware of your numbers.

Having a budget forces you to monitor your numbers regularly. It puts you in tune with all of your sales as well as your costs associated with those sales, your marketing, your payroll, inventory, fixed assets and cash flow that is needed to keep the business going. Knowing your numbers allows you to make informed managerial decisions based on solid facts, not fabricated ones.

3. Holds you accountable

Your budget is your accountability partner. Because you are aware of your numbers, you are more inclined to monitor and track them on a consistent basis. Having them constantly in your face to ensure goals are met.

4. Positions you for growth

A budget is a numerical and visual representation of your desired goals within your business. When you create your mission or your vision, you have a clear cut idea of where you want your business to go. What the budget does is help you plan out the strategy around what ideas you will implement to meet those goals and how you are going to execute those ideas. This representation displays your expected results and if monitored consistently, allows you to make course adjustments as needed to still hit your desired goal.

5. Saves you money.

As I said earlier, having a budget forces you to monitor your numbers regularly. Because you have this financial plan in place, you are more inclined to ensure that you do not go above and beyond your expected spend. You are in a better position to see where there are costs that can be eliminated or reduced.

Newbie 10:49 AM Admin Bandung Indonesia

How To Use Budgeting To Save Your Business

You can't wait to get your tax refund to buy an Apple Watch, right? Perfect timing, isn't it? You've ordered the watch and won't pay until June when it will be shipped. And voilà! Your refund will be available.

This is your special time of the year - waiting for the government to confirm your tax refund and send your check. It doesn't get better than this. That's the essence of a recent discussion with an elated individual.

Regrettably, I could not agree with this person, whom I will call, Tom, as I know how deeply indented he is. I suggested to Tom that he should consider using the tax refund to repay his debts. I told Tom I believe present life stage and circumstances should guide the use of tax refunds. First, however, it is important to know what the refund represents.

Why do you get a tax refund

Simply, you get a tax refund because insufficient or no taxes were deducted at source. That's it! It is not a special gift from government. Rather, it's the return of a tax free loan you made to the government. Where feasible, you should ensure relevant forms for tax deduction at source are up to date.

Some tax refunds are inevitable, such as when you donate funds to registered charities. Or when your circumstances change during the year and you do not complete the relevant forms. However, your tax refund is not a wonderful government gift; it's settling what's due to you based on your tax profile.

The opposite happens for small business owners. Normally, they must pay taxes when they file their returns because no taxes were deducted at source and they paid no instalments. Small business owners, don't complain that you have to pay taxes when you file your return. Unlike others, the government financed you as it could not tax you at source like regular wage earners.

Three uses for the tax refund

    Repay consumer debt
    Start a capital fund or top up a capital fund
    Contribute to children education savings plan

Repay debt

If you have interest bearing debt other than a mortgage, repay as much as you can. When you repay these debts, move to item two.

Capital Fund

This fund is a targeted savings plan. It is your major purchases and emergency fund account. It will remove strain from your monthly budget. Set aside funds to buy your next car and major appliances for cash. Save about three month's salaries for inevitable emergencies.

When you are happy with the state of this fund, move to the next item.

Children education savings plan

Post secondary education is expensive. I believe parents should work with their children to save. Many governments encourage savings and I suggest parents should maximize government grants to these accounts. In Canada the Registered Retirement Savings Plan is an attractive vehicle to help students save for their post secondary education.

After these three items are satisfied, if funds remain, reduce your mortgage. In this process, if the Lord leads funds elsewhere, that's where you should direct them.

Consider your tax refund an interest free loan to the government. When they repay you, remember, interest rates are low and will rise. Therefore, use your refund to accelerate your journey to debt freedom.

Michel A. Bell follows Jesus, is an author of five books, speaker, founder and president of Managing God's Money, adjunct professor of business administration at Briercrest College and Seminary, and former senior business executive. For information on living a debt free lifestyle,

Newbie 10:48 AM Admin Bandung Indonesia

3 Ways To Use Your Tax Refund

Australia's budget is done 'n' dusted - fish-and-chip wrapping if you're old enough to remember when newspaper was used to wrap the order. Much of the media's attention to the Budget focussed on jobs - the Treasurer's and Prime Minister's - with pre-Budget leaks supporting the blokes in the hot seat.

Budgets play important parts in everyday life. But they're not the be-all and end-all of our existence. It's like Buffy the Vampire Slayer said, 'Don't give me songs, give me something to sing about'. The eighteenth-century philosopher Jean-Jacques Rousseau drew attention to what most of us have come to realise: wealth is not a question of having lots of money; it's about having what we want.

The Treasurer may not be too interested, but, in general, wealthy people outlive poor ones. As Mae West commented, 'I've been rich and I've been poor. And rich is better'. There is a wealth of information telling the amount we'll need to keep in reserve to live the way we'd like during our later years. We can opt to live off the smell of an oily rag, or we might aspire to something different. The 'Rule of 17' is just one of many DIY tools that can be used to help us calculate the size of our nest egg. Say, for example, (in addition to owning your own home) you estimate that your annual spend will be $100,000. Your retirement nest egg, therefore, will need to be 17 times that amount ($1.7 million). And if you plan to generate the $100,000 as interest from that $1.7 million, you'll need to secure an investment that delivers 5.88%, annually (1/17 X 100). You may, of course, heed Confucius's words of wisdom when he said, 'If you know what is enough, then you will have enough. But if you wait until you have enough, you will never have enough'. Ultimately, it will be your choice.

You and I know, of course, that living longer is not the key issue: the name of the game is living longer, better. Adding years to life is important, but so, too, is adding life to those years. So, the Budget needs to be kept in perspective. Only one of the 5Fs is Finances, Let's not neglect the other Fs - Food, Fitness, Friendships, and Future (always having something to look forward to). During this period in The Land of Oz, it's Finances turn to be emphasised.

Newbie 10:46 AM Admin Bandung Indonesia

How Budgets Can Have Grey Lining

Concept

The promise from Tony Robbins in his book, Money: Master the Game, is to create an income for life without having to work again.

The idea is to create an extraordinary quality of life on your own terms.

Start rich with gratitude.

Achieve your dreams by (1) unleashing your desire or focus; (2) taking massive and effective action; and, (3) good luck!

With the strategies summarized below, the only thing that could hold you back is a defeated story based on beliefs you will fail.

Strategies

Establish an automated plan for savings and investments. Spend at least 10-15% of your income on yourself, before any day-to-day expenses, to benefit from compound savings. Every time you get a raise, put a portion toward a higher percentage of income invested.

Protect yourself from marketing myths. Analyze your current portfolio at StrongholdFinancial.com. Choose low-cost index funds over mutual funds. The (likely tax-deductible) cost of a large fee-only independent registered investment advisor (through a third-party custodian) plus the cost of the investments should be under 1.25%. Risk a little to make a lot with structured notes, market-linked certificates of deposit, and fixed indexed annuities.

Set realistic goals to achieve financial dreams at masterthegame.tonyrobbins.com. The calculator will guide you on how much you need to save (and how long it will take) for five levels of financial freedom. For instance, a moderate outlook shows me never having to work another day starting 13 years from now - much better than the standard age of 65+. To get there even sooner: (1) Save, i.e. minimize fees, pay next month's mortgage principal this month; (2) Earn, i.e. add more value in your job or business; (3) Reduce taxes, i.e. run a not-for-profit, defer, invest in a Roth; (4) Find investments with a risk:reward ratio of 1:5, i.e. real estate investment trusts; or, (5) consider moving cities for greater purchase power.

Make investment decisions with proven asset allocations. Decide what portion you will invest in growth (i.e. high risk, high yield) and what portion (i.e. 60%) in security. Divide a big win from growth investments to reinvest in both growth and security, and save some for a luxury. Diversify across markets, classes, and time with dollar-cost averaging: making equal contributions to all investments monthly or quarterly. Rebalance your portfolio annually. Tax-loss harvesting uses losses to lower taxes.

Develop a guaranteed lifetime income plan. Balance your portfolio in terms of risk rather than by amount of money. "Every investment has an ideal environment in which it flourishes," so have 25% of your risk in each season: (1) high inflation (commodities/gold, TIPS i.e. inflation-linked bonds); (2) deflation (treasury bonds, stocks); (3) high growth (stocks, corporate bonds, commodities/gold); and (4) low growth (treasury bonds, TIPS). This translates to 30% in stock indexes, 15% in 7-10 year Treasuries, 40% in 20-25 year Treasuries, 7.5% in commodities, and 7.5% in gold. Upon retirement, invest in deferred fixed indexed lifetime income annuities with a guaranteed lifetime income rider. Private placement life insurance protects from growth tax, allows loans, and death benefits are tax-free too. Also consider a living revocable trust.

Learn how billionaires invest. The book details the expert interviews with Carl Icahn, David Swensen, John C. Bogle, Warren Buffett, Paul Tudor Jones, Ray Dalio, Mary Callahan Erdoes, T. Boone Pickens, Kyle Bass, Marc Faber, Charles Schwab, and Sir John Templeton. Here, I'll summarize: anticipated and diversify; high achievers are never done.

Follow an action plan. Decide to focus on what you can control and find empowering meaning in what you see. This creates the emotional state to take action, to grow, and to contribute. Increase happiness by investing in experiences, buying time for yourself, and investing in others. Most of the billionaires interviewed give most of their money away. You can donate a fraction of a dollar every time you use your credit card to end hunger, slavery, and disease through SwipeOut.

Clearly, there is a huge amount of detail you'd get from reading the full book (and all proceeds go to charity), but above are all the main points as I see them.

Newbie 9:19 AM Admin Bandung Indonesia

Achieve Financial Freedom With Simply Smart Investment

Today, it is very important for people, especially those who are planning to start a family, to know how to manage their finances. Since you can see a lot of interesting merchandise around you, sometimes, you are tempted to buy things that you do not really need or are not really important. And as a result, you lose control in your finances. This then can lead to serious financial problems. A lot of people have actually gone through different financial problems in their life simply because they have no knowledge about handling their money the right way.

If you are among these people, it is highly recommended that you get an expert in financial services. You may take this for granted, but in the long run, you will certainly realize the need to get financial experts to help you with money matters. You may not be a business man or an investor, but certainly, you need someone who is an expert to help you handle your finances especially if you are about to enter a new chapter of your life. There may be a lot of things to put into consideration. There are a lot of things that you need to be prepared for. And usually, these things involve money. If you do not know how to properly handle your finances, you will end up struggling to be financially stable all your life. And this situation will surely affect your family as well. Hence, investing in financial services is a must.

There are actually a lot of financial experts who provide services to a variety of clients from businessmen, entrepreneurs, retirees and even professional athletes and those in the entertainment industry. If you are among those who need financial guidance, do not hesitate to seek help from these experts and specialists as they are knowledgeable enough to guide you with everything about money and expenses. They have the experience as well to help you decide which things to invest in and which things to let go to ensure that you will have a financially stable future.

If you find it challenging to look for financial experts to help you, you can actually look online or check for recommendations from your friends and relatives. When hiring a professional who is expert in financial services, it is also best to hire a trusted and reliable one. Since you need to entrust your finances to him/her, make sure that he/she can be trusted.
Newbie 9:16 AM Admin Bandung Indonesia

Getting The Help Financial Services Experts

Whether we acknowledge it or not, money affects us all. It would be great if it weren't the case, but life simply has costs associated with it. Be it rent or a mortgage, car note, utility bills, or cost of food, life requires money. Despite the global economic downturn, our personal expenses still exist. In order to maintain or increase our standard of living, we undoubtedly need money.

It sounds like an easy concept, right? Life has costs; so go out and make money to be able to buy the things you need. (If only it were that simple.)

Regardless of what the media says, things truly are in bad shape. The economy is weak, and quality, high-paying jobs are scarce. Several decades ago, all a person had to do was go to school, get a good job, work hard, and they were set for life. Today it's a different story. How did it get like this?

The negative effects we are experiencing today result from a major event that occurred in 1971. In 1971, the US dollar became a currency, and at that point the rules of money changed.

OLD RULES

The reason that so many people are struggling is because they are attempting to survive the bad economy by playing by the old rules. It just doesn't work.

In the old days, getting a job and working hard for a living worked. Things were less expensive and employers paid their workers more. Today, many people view debt as a necessity to buy the goods they need, such as cars, food, clothes, etc.

Today, no matter how hard you work, having a job often means you are "Just Over Broke."

NEW RULES

In the present economy, it is a must that you play by the new rules. A single stream of income doesn't possess the same impact as it used to.

The new rules of money require that you learn to have your money work hard for you, instead of you working hard for money. The new economy demands that people learn how to legally reduce taxes and generate income through assets, things such as businesses, real estate, stocks, and precious metals.

• Legally reduce taxes

• Create additional income via assets

Saying it simply, a financial education is essential in today's economy. It is a new monetary system with new rules. Playing by the old rules is a losing proposition.
Newbie 9:14 AM Admin Bandung Indonesia

Why Financial Education Is Essential

It's no secret. Our society is based on mass consumption. Every day, we are bombarded with marketing campaigns that entice us to buy, buy, buy. From a very young age, our thoughts are conditioned to accept standards of beauty and success everyone must aspire to. Or, we are trained to believe that buying a new TV or automobile will lead people to like (or even envy) us. So many aspects of our lives revolve around money.

When it comes to the economy there are two sides to the coin: consumption and production. The problem is that most people are trained to view the economy from the perspective of a consumer. And when it comes to sales transactions, all too often, the average person is the buyer, trading their hard earned money for goods and services from someone else.

In relation to building wealth, having a consumer mentality is very destructive. As harsh as it sounds, wealth is built by having people send their money to you. Unfortunately, it's more common for people to pass their money on to someone else, instead of having money flowing towards them. When personal consumption gets out of hand, entering into debt bondage is a real possibility.

The deception in media's message is that the consumer "wins" by spending their money. In a material world, the amount of material possessions supposedly equates to success and happiness. However, behind the scenes, a large number are in dangerous financial standing by trying to achieve the appearance of wealth. Without a change in mentality through financial education, most will continue down that path never escaping the stronghold of debt. This type of lifestyle is just not healthy.

In the grand scheme of things, the real winners are the producers, the individuals who are able to get people to send money to them. Producers offer consumers value, whether real or perceived, and are able to profit from it. As consumers buy more, producers become richer. The name of the game is becoming a producer. Have you considered what value you can offer someone? It could possibly be an avenue for generating income.

If you truly desire to build wealth, you can't continue to make other people rich by sending your money to them, like a consumer. Begin to see the world through the eyes of a producer. Learn to successfully offer value, and you will see your wealth grow.

Newbie 9:13 AM Admin Bandung Indonesia

Consumers Aren't Winners

At the height of the Great Recession in 2009, more than 1.4 million people filed for bankruptcy protection. As the American economy struggled to regain its footing, that number actually increased the following year. Nearly 1.6 million citizens filed for protection in federal courts in 2010, according to statistics released by the Administrative Office of U.S. Courts.

Though filings have declined of late, tens of millions of Americans are in constant danger of being overwhelmed by their debts. Not surprisingly, lawyers who work in this field are in high demand. In this article, we will discuss exactly what these legal professionals do and how they can save you from losing everything.

But before we begin, nobody wants to file for bankruptcy. Although it is quite common, filing is an incredibly unpleasant process. It is also a public admission of failure, which is why few Americans do it willingly.

Why Contact An Attorney?

Because the U.S. Bankruptcy Code is incredibly complicated, people that are considering filing for protection should call a qualified bankruptcy attorney. Yes, a person can represent himself in court, but it is seldom a good idea. Attorneys spend years studying the dense language of the U.S. tax code before they stand up in court. A neophyte cannot possibly compete. It is also important to note that if you make a single mistake on your petition or you file it incorrectly, your case could be summarily dismissed.

What To Look For In A Bankruptcy Attorney

For starters, the lawyer should be considerate enough to offer a free consultation. After all, you are filing for protection because you can't pay your bills. Paying consultation fees on top of what you will be charged for your case really is a waste. Fortunately, most of the top attorneys in the field offer initial meetings for free. It is also best to speak with more than one legal professional before you make your decision.

The single most important consideration when searching for a bankruptcy attorney is experience. In other words, he or she should specialize in bankruptcy law. As we mentioned, the code that governs this area of legal practice is extremely complicated and an attorney who does not specialize in it may not be able to compete with those that do. It is also important to contact a professional in your area, since different states and regions may have different laws.

An experienced legal advisor should also be a great negotiator. Since most of these cases are settled, it is important to ask about a prospective lawyer's success in negotiating favorable terms with specific examples.

Last but not least, it is important to consider the hourly rate. Because most of the cases take time, clients can end up owing a fortune if the lawyer charges a high rate. Therefore, it is always a good idea to ask for a rough cost estimate before you agree to anything. If you can afford the fee and the lawyer seems to know his or her stuff, you may have found your match.

Newbie 4:55 AM Admin Bandung Indonesia

How To Find The Right Bankruptcy Attorney

Spending Equals Investing

Holiday's don't have to cost a fortune to those of us who are taking the time to buy green. What does buying green mean you may ask? Well, simple. Take the time to shop gently used items instead of purchasing new. These used items, will not only saves you money, but it also helps our planet as those things won't end up in a landfill somewhere when they could find new life in someone else's home. There is a new wave that is leaning towards this kind of more responsible shopping and anyone can jump on this bandwagon.

What are some things that you may be able to find when buying green? Great question. The list is so long that it would take tons of time to list all the items that a person can find that are gently-used and just waiting for someone to re-purpose, so for the purpose of this article we'll stick to only the ones that pertain to this topic.

Three Ideas For "Green" Holiday Purchases

1. Holiday Decorations: Many families have wonderful gently-used holiday decorations that for whatever reason they've decided to part with. They could be choosing to do this as they wish to change their holiday color scheme, down-size their load of holiday decorations or--like a lot of people I know--have always purchased more than they can reasonably use and only find this out close to the holidays. So help a family out by purchasing their still very good condition decorations instead of brand new.

2. Games, Toys: There are an incredible amount of games and toys out there that only get used one or two seasons and then are stored. Someone could be choosing to sell a used holiday item because of lack of interest on the child's part of merely because children regularly change their interests. But should all those items end up in landfills? No. They could make beautiful gifts for another child and have a new life as a re-purposed item.

3. Clothing: Who out there doesn't buy clothing in some way shape or form for their children for the holiday? Why buy brand new when there are so many families whose children outgrow them in a matter of months? These items are still in great shape. They still have those beautiful, expensive, brand-name labels as your kids are looking for, but they come with a price tag that won't make you feel that you have to take out a loan to pay for them.

When you're thinking about your holiday shopping this year, why not take a step to buy green? You will love it. Your wallet will love it, and the planet will love it as it will be one more item that isn't sent to the landfills. If you are someone who finds that they have an overabundance of any of the items listed above, why not resell them. It takes the whole world to take care of a planet. You can do your part by keeping those gently-used items out of the landfills.

Newbie 3:49 AM Admin Bandung Indonesia

Budget-Friendly Holiday Ideas

Interest rates have been at a record low of 0.5% in the UK since the financial crisis. The purpose of lowering rates was to stimulate the economy and get mortgage payments down to encourage people to spend their cash and help the economy get going again.

If you'd been on a variable rate mortgage back in 2008, you'd have been enjoying much lower payments for the last 6-7 years than you were prior to this. Getting a new mortgage has also become a lot more affordable with rates being at this record low. It's not only home owners but buy-to-let landlords who have been taking advantage of these low rates to expand their portfolios.

There has been a lot of speculation for a while now as to when interest rates will rise in the UK. Two weeks ago Mark Carny, the Governor of the Bank of England, indicated quite strongly that he saw interest rates rising incrementally over three years, potentially starting at the end of this year. He made a point of also stating that the rate of rise would be slow and sees the upper limit at about half of what the historic average used to be, which would make it around 2-2.5%.

There has been a lot of scare mongering in the media regarding increasing rates but the advantage that you or I have is knowing that the rate rises are coming, and it would seem that the rises won't be too drastic. Inflation is currently pretty low and actually turned marginally negative in April 2015, so the Bank of England isn't going to be raising rates drastically in order to bring down a high inflation rate. Unless things change widely for reasons we are not currently aware of!

Before rates do rise, things you may want to consider are:

1. Credit card debt

Best practice is to always pay off your credit card in full when you get the monthly bill, but if you've let it pile up, now would be a good time to start plugging away. According to an article in the Guardian, Halifax has already come out and said that as soon as the base rate goes up, so will their credit card rates. Given that people will already be paying a high rate of interest on these cards, I'm sure this won't be welcome news!

2. Mortgage Payments

Fixed Term

If you're on a fixed term mortgage, you're going to be shielded from any rate rises whilst your fixed rate is still valid. After this, standard practice is to be moved over to the banks Standard Variable Rate. This will have risen from what it is now, so although you'll be protected for a while, those monthly payments will likely rise at some point. At the point your fixed term comes to an end, it's always worth looking around to see what other options there are, as you may still be able to find some good deals.

Some people may rush to lock in a fixed rate mortgage now. On the face of it, that may not be a bad idea but take into account that many fixed rate mortgages come with quite a large up front fee. Before diving in, make sure that paying that fee won't negate all the benefits of a lower rate.

Standard Variable Rates or Tracker

People on tracker rates are going to feel the pinch straight away, as their mortgages track the Bank of England base rate. How much the mortgage payments will go up will depend on how much you've borrowed and what rate you've got. There's a nifty online calculator on the This is Money website, where you can very easily see how much you'll be affected by.

Those on Standard Variable Rate mortgages, or those linked to the banks Standard Variable Rate (like discounted rate mortgages), will be affected too, but not necessarily straight away. It will very much depend on whether the banks raise their rates when the Bank of England does - as they don't have to straight away. Some people don't think they'll raise their rates as soon as the Bank of England does but I'd question that - how often does a bank not squeeze you for more pennies when it can?

3. Renting

One thing I've not read much about is the effect that raising rates will have on renters. Rents are already at bonkers rates in the UK. With house prices being so high it's made getting a mortgage unreachable for many due to the high deposit requirements. Given that there is still strong demand for rental accommodation, landlords have been taking advantage of this and raising rents to record levels in many areas of the UK. Landlords typically pass on any additional expenses onto tenants, so be aware, you may find your landlord trying to increase your rent next year.

The other factor on my mind is that the Chancellor, George Osborne, recently announced plans to prevent buy-to-let investors getting a 40-45% tax break on their mortgage interest payments and reduce this down to a maximum 20%, effectively meaning profit margins will be slashed for many. This policy will come into effect over the next 4 years but it will certainly be at the forefront of many buy-to-let investors' minds. The intention is to cool off the buy to let market but again, for some it will mean them trying to raise their rental income to compensate.

Unless house prices start to come down to more affordable levels for the masses, I'd unfortunately expect rents to keep on rising for the time being.

But it's not all bad - there are a few things to cheer about too.

4. Holiday cash

As a consumer, one area that people will benefit from is the rising value of the GBP. Generally, when interest rates go up, it attracts value to the associated currency, so in theory, the GBP may get you more foreign currency than it does now. Obviously this isn't a given as it depends on a whole spectrum of other factors, but with Europe undergoing quantitative easing and devaluing the Euro, holidays to Europe at least may get more affordable.

5. Savings

The other obvious area to benefit many will be the interest rates that savings attract. Like many, I've seen savings attract a pitiful amount of interest every year. It won't be jumping up much but at least cash in the bank will start working a bit harder for those with savings.

The economy is affected by a whole host of other things other than interest rates. so the timing of rates even now isn't certain, but my view is that it's always better to plan for the worst and hope for the best. Knowing that rate rises are likely to happen in the reasonably near future gives households the time to plan for when they do. Newbie 9:18 AM Admin Bandung Indonesia

Interest Rate Rises: 5 Things to Consider

It looks like investor demand for net lease quick service restaurants is on the right. Some of the reasons behind investor interest in these properties has to do with brand names that are easily recognized, escalations on rent, exciting price points, and long-term leases. According to experts in the industry, the market is as hot as it has been in ten years.

Another reason for the boom with quick service restaurants? The interest provided by 1031 exchange investors. In a 1031 exchange, investors defer capital gains taxes and make use of a qualified intermediary. Low interest rates and a shortage on available quality product has pushed down cap rates. This means that franchisees and corporations are in a sense being forced to unlock the values associated with the real estate owned. These proceeds can then be used to expand, pay down current debts, or even remodel existing locations. One group of particularly interested individuals are those who operate multiple franchise operations, because the sale-leasebacks help to fund the renovations and upgrade that are necessary as rules passed down by the parent brand.

The economy is slowly improving, too. Sales in the restaurant industry are poised to hit a high of $709.2 billion in this current year, showing the sixth year in a growth of growth in the market. There are challenges, however, that are keeping these gains below what you might otherwise expect in the industry coming out a recession.

Quick service restaurants bring in a different kind of net-lease investor than a table-service restaurant. According to research, the fast/casual restaurant segment is expected to outpace growth in the table-service segment. Fast casual growth is predicted at 4.3 percent while table restaurant growth is just under 3 percent. Due to building size and a lower price for each meal, it's often cheaper to acquire a quick service restaurant from the investor's perspective. This means that investors can become active in the market at a lower price than if they opted to get involved with another segment or industry.

The median asking price for a quick service restaurant is around $2 million. The structure of these businesses also appeals to investors because it is frequently easier to analyze these properties. The investor can get a better sense of the restaurant's tone and can look at how a particular restaurant is performing against other stores all over the country. This can give a big picture overview for an investor interested in 1031 exchanged handled by a qualified intermediary. Newbie 9:15 AM Admin Bandung Indonesia

The Popularity of QSRs in 1031 Exchanges

When discussing marketing, think of it as a contact sport. Marketing should be seen as a game for every attorney. Consider it to be a game in which you are seeking to obtain the most points of contact, meaning how many individuals can be seen per week, month and year. This game should also consider the individuals that are on your marketing team who are amenable to refer your business? Below are some of the many influential tactics that can be used in order to win this so called "game" of marketing.

Obtaining the correct targets

When playing a contact sport the correct material is necessary, you wouldn't be playing soccer while using a basketball would you? When marketing you also need to find the correct targets. If you want to win this so called marketing game it is crucial for you to market the correct individuals. These individuals are those who want and need your services. Take the time in coordinating the ideal targets with your experience in order to meet the "points of contact."

Formulating the right type of friends

Although the process of meeting other bankruptcy attorneys and legal specialists is important, it is crucial to become friends with the more dominant and the most influential players in the market you are in. For instance, if you are in the market that deals with construction companies that are seeking bankruptcy, then it is important to accompany the trade associations and attend their conferences. At these conferences is where the correct network connections will be made.

Become a scholar

Although you may not recognize it, there are many individuals that are interested in the knowledge that you have. It is important to take time aside in order to share this knowledge through a blog, articles and trade publications by sharing it throughout social media. There are many industry event coordinators that are seeking to obtain speakers and workshop leaders. When speaking or leading a workshop this puts you in the front of the room, which gives you all of the attention more than the average propaganda could ever do.

Build a list

There are times where the individual may be interested in your legal services, however may not be apt in purchasing. You can obtain these individuals through grabbing their attention by adding them to a mailing list in order to first get their approval. The mailing list that you create can administer a beneficial source of potential revenue and clients. However, it is crucial to keep the information that is given fresh with valuable information such as what is trending, events and news on bankruptcy.

Newbie 4:56 AM Admin Bandung Indonesia

Marketing Tactics for a Bankruptcy Attorney

Filing for bankruptcy is a scary prospect, even if you do so voluntarily. There are several different chapters, each with different rules. Hiring qualified bankruptcy lawyers can make the process easier and protect you from your creditors. However, it can be difficult to choose the best attorney for your case. Ask these four questions to get answers that can help you decide.

Do you charge a flat-fee to represent me?

Hiring any attorney costs money. This is particularly troubling when you are considering filing for insolvency, as money is the cause of the problem in the first place. Some legal practitioners bill by the hour. The good news is that most bankruptcy lawyers charge a flat fee for the entire course of representation. Typically, this fee will include consulting with you and analyzing your circumstances, preparing and filing the necessary documents, and representing you during the insolvency proceedings. Sometimes, creditors challenge the bankruptcy. Other times, creditors can still come in and foreclose on a home. Often, the flat-fee does not cover these additional situations. Before choosing from several bankruptcy lawyers, make sure you understand each attorney's fee arrangement.

Is bankruptcy your primary line of work?

Any licensed attorney can help you file the required paperwork. However, insolvency proceedings involve complex areas of law that do not apply anywhere else. Moreover, deciding what chapter to file involves a detailed analysis of your individual financial situation and expectations. Even a seasoned legal practitioner whose primary work is bringing tort claims or structuring commercial transactions will generally not have the knowledge and skills necessary to adequately protect you from your creditors. You need a legal practitioner who is devoted to handling insolvency cases.

What can I expect from you regarding communication?

It is important to find a legal practitioner whose practice is primarily devoted to handling insolvency cases, but it is equally important to find a legal practitioner who will devote individual attention to your case, because determining the best course of action requires a detailed analysis of your financial situation. You should know how long the legal practitioner will devote to reviewing your situation, how quickly your phone calls will be returned, how frequently the lawyer will update you on case progress, when you can expect pertinent documents to be drafted, and what efforts your advocate will make to cease the creditors' collection efforts.

Will you have staff who assist you on my case?

Bankruptcy lawyers have a substantial number of clients and will not always be directly available to work on your case. There will be routine matters that will need attention, but do not necessarily require the personal attention of the attorney. It is important that the attorney have staff or junior lawyers available to work on the case when the primary legal practitioner is not directly available. However, you should also make sure that the attorney handling the case will personally review the work of junior lawyers and non-attorney staff members.

Asking these important questions will help you to choose from among the many bankruptcy lawyers in your area

Newbie 4:54 AM Admin Bandung Indonesia

Four Questions to Ask Bankruptcy Lawyers Before Choosing One

Filing a bankruptcy is a big life choice. As I have written in previous posts it is not nearly as scary as people assume it to be. That said, it is important to choose an attorney who knows what they are doing and who has a reputation for good client advocacy.

You don't want to get stuck with someone who won't return your phone calls, is rude, or who gets disbarred after they start taking your money.

What follows are some tips for choosing a good bankruptcy attorney.

1. You can find attorneys with bankruptcy expertise by using the attorney finder function of NACBA. NACBA is the National Association of Consumer Bankruptcy Attorneys. Attorneys that you find on this site have paid dues to the organization which I believe shows that they are committed to the bankruptcy field. You want an attorney who files bankruptcies regularly, not once or twice a year.

2. Another good source is your local bar association. Contact your local bar association and see if they have a referral service. Referral services generally require attorneys to have 5 years of experience in the field you are looking into. They also often require that their attorneys they refer clients to have completed continuing education courses in the field you are looking for.

3. Ask around about the attorneys reputation. If you do not know anyone who has used them, look online. Attorneys are rated by http://www.avvo.com. While their methodology may not be perfect, (for example, you might have a great attorney with 20 years experience who has a rating of 7.0, on the other hand you might have one with 2 years experience with a 10.0.) I am not sure how accurate the ratings are, but you can at least see if they have any reports of misconduct.

4. Go to a free consultation. Most bankruptcy attorneys will offer you 30-60 minutes of their time to figure out if you are a good candidate for bankruptcy and to determine how complex your case is. This really serves an additional purpose of helping you to determine if it is someone you would be comfortable working with. Some attorneys do charge a consultation fee. If this is the case with the attorney you want to meet ask them if they apply that fee to the overall attorney's fee. Even if they do charge an additional fee for the consult, it may be worth it if their reputation is sterling.

5. Ultimately, make the decision using all the information at your disposal. If they were referred by a reputable source, if they have a good reputation, and if the fee is something you are comfortable paying, be confident in your choice to go forward and provide your attorney all of the information that ask for. If you have done this, chances are your case will go smooth.

Best of Luck,

Newbie 4:49 AM Admin Bandung Indonesia

5 Tips for Choosing the Right Bankruptcy Attorney for You

If you think you have a good credit history, but you have never checked it out, you might be in for a nasty surprise. It's not just keeping up your payments and being responsible with your borrowing that affects your credit score, there are some ways that you damage it that really shock you. Here are ten of those surprising things that could knock down your credit rating by a few points.

1. Having a company credit card

If your employer has given you a company credit card then that could be affecting your own personal credit score. Most corporate cards are now actually in joint names and that means that you are jointly liable for the credit. It also means that if your company pays their bills late, it will impact on your credit rating.

2. Using your debit card to rent a car

If you pay a deposit on a rented car with your debit card, then the car hire company will probably do a credit check on you. Every credit check that is made on you will take a point off your credit rating.

3. Paying a parking ticket late

No one likes getting a parking ticket and we like paying them even less. That's why so many people leave it until the last minute to pay them. If you leave it too late, the debt will be passed to a debt recovery company and that will dent your credit rating.

4. Taking out "buy now, pay later" credit

The amazing deals that you can get on furniture, where you pay nothing for twelve months and then its interest free for the next three years could also be damaging your credit score. They look like you have a maxed out line of credit against which you are making no repayments at all for a year.

5. Forgetting to take a library book back

Even something as simple as a library book fine might be recorded against your credit history. If you forget to pay a library fine, local authorities are very quick to pass that on to a debt collection company too, and that will knock more points of your credit score.

6. Waiting for the reminder letter on utility bills

Gas and electricity companies are pretty quick off the mark when it comes to late payment. If you slip up and leave paying them for too long, you will get a letter from a debt collection company and that means another knock to your credit score.

7. Paying off a loan early

Even paying off a loan early can look bad on your credit history. When you pay off a debt early, you save some of the interests, but that can look like you didn't pay back all that you borrowed.

8. Underutilising a credit card

Lenders are looking to see that you use credit wisely and manage your debts responsibly. If you have credit available, but you never use it, it still uses up some of your available credit and there is no history if your ability to manage credit if you never use the credit that you have available. It is better for your credit rating for you to use a credit card and pay back the balance monthly.

9. Enquiring about loans

Making too many enquires about loans, or getting quotations for loans, will also knock some points off your credit score. In fact, any hard credit check that is done on you will lower your credit score for a period of two years and that includes taking out a new mobile phone contracts as well.

10. Disputing an item on your credit card

If you dispute an item on your credit card statement and your lender takes their time looking into then it will remain an unpaid debt against your name and could still damage your credit score.

Newbie 12:03 PM Admin Bandung Indonesia

10 Surprising Things That Can Affect Your Credit Rating

A credit rating is nothing but a number, which is computed by an approved credit rating agency. These days the masses are more conscious than that in the past. It is because of this risen awareness that jargon like credit rating and CIBIL score are heard often across almost every tier of the society. The rating or the number actually provides a hint of an individual's credit worthiness. This score proves to be a crucial tool for conventional lending agencies while processing or approving a loan application of an individual. Before borrowing the money, creditors need to have an indication of the probability of default of every loan seeker who approaches them, for obvious reasons.

There is still a way of explaining the importance of credit score. Flatly, it tells a lender or credit institutions like banks, how likely is it that a borrower will repay a loan based on the individual's

Pattern of credit usage in the past and
Loan repayment history

It is possible for every individual to check his or her own credit history. In order to check the history, one should obtain a copy of one's credit report. In India, one can avail this from any of the three rating agencies, namely CIBIL, Experian or Equifax. The records include every loan or credit account that one has along with detailed information of the concerned individual's entire payment history. Thus, the credit score is calculated based on a person's financial track record as noted in the individual's credit report.

Thankfully, it is possible to improve one's CIBIL score. However, one should remember that there is no quick-fix procedure to achieve this overnight. It takes some time for the process to take effect. But, it is possible to improve one's score significantly within a short time frame and to achieve it one has to adhere to a set of rules. As such, it is an excellent habit to check one's credit scores at regular intervals so that one remains updated about one's financial health in a periodic manner.

As the first step towards improving one's CIBIL rating, one should keep the credit card balance as low as possible. A higher credit limit allows an individual more flexibility in making payments and also helps in keeping the balances low. Setting up payment reminders proves helpful in avoiding missing payment deadlines. Credit score drops because of missing payment deadlines. In this age of digital technology, it is pretty easy to ensure the monthly balance paid automatically through electronic transaction directly from one's bank account. Moreover, one can have the bank shoot timely reminders through SMS or emails as well. If one spends over 30% of one's credit card limit on monthly basis across all existing cards, it negatively affects the individual's credit rating. So, ask for higher credit limit and maintain or cut down the monthly expenditure below 30% of the credit limit. This is an effective means to improve one's credit score. In fact, improving one's credit score is not impossible, provided one sticks to the right strategies with dedication and involvement.

Newbie 12:02 PM Admin Bandung Indonesia

Understanding the Importance of CIBIL Rating & Ways to Improve It

People have debts with many creditors and at varying interest rates. Knowing how to be debt free may save you a great deal of money if you are willing to become a true master of the art and science of managing money.

Realistically, there is NO magic formula to get rid of debt. Check the debts you owe: credit cards, auto purchases, finance companies, remembering that loan charges may vary from year to year among financial institutions.

Interest on auto loans is known to vary as much as 10 percent. Finance companies often charge much higher rates than banks and credit unions. Credit cards and department store accounts can be insidious ways of incurring additional debt. That is, unless you use them properly.

In regards to challenging your every belief, it is a fact of the modern financial system that loans generally incur higher interest rates. For example, let's say Ford Motor Company goes to your bank. The company pays interest that is a fraction over the prime rate, which is the lowest rate banks charge their favorite customers. You, for sure, are paying several points over the prime.

You may not be able to change the fact the bank gives Ford a better interest rate than it gives you. But you can control, to some degree, the interest rate you pay based on the amount of money you borrow.

Look at the interest schedules on your credit card bills. You will see information that tells you something like this: On the balance up to $2,000, the finance charge is 18 percent annually, while on the balance over $2,000, you pay 12 percent. Remember, these numbers are generalized.

You may owe $2,000 or more in credit card bills, but if that debt is spread over several cards with low but lingering balances, you are paying the 18 percent on every penny. And if you pay the minimum amount due to each creditor every month, you will carry 18 percent until all balances go to zero.

Mastering a debt free plan can be achieved by strategically refinancing your debt. In fact, you can renegotiate and finance smaller loans as well as larger ones. However, be careful. Make sure you can benefit from the refinancing before you renegotiate.

Suppose you have an auto loan at 10 percent, and your bank is willing to lend you the money to pay it off at 7 percent. Sounds like a good deal, right? Well, maybe. If a big part of the loan has been paid off, refinancing may not be worthwhile because the new debt is usually paid off over a longer period of time and will ultimately cost more.

General Rule of Thumb: The more recently the loan was made, the better chance refinancing has to work for you. Get out the papers; go to your accounts online, look at your loans today. Look to see if you can make some changes that will get your money in motion, working for you. Newbie 11:05 AM Admin Bandung Indonesia

The Truth About Going Debt Free

When you find yourself buried deep in debts, finding help at the earliest will save you from trouble. One of the main reasons why people suffer because of debts is the lack of proper planning and management. Some people do struggle because of reasons that are out of their control such as sudden loss of jobs or their inability to work due to a medical condition. Whatever the reason it may be, it is advisable to get expert help to help you deal with debts effectively.

Credit Cards

Credit cards are very easy to use. While some credit card holders keep a tab of where their money goes, some do not care about it. Banks these days offer a higher credit limit to attract more customers. The charges on annual fee may also be waivered by the bank if you spend a certain limit every year. This has encouraged people to spend more. While most people make sure that they repay their monthly credit card bills without fail, some do not. When you miss a payment it results in a penalty. Repeatedly missing your payments will result in the bank declining your credit card. You will end up owning the banks a lot of money which you will have to pay off at high interest rates. Getting debt help during this tough situation will help you manage your debts effectively.

How do Consolidation firms work?

If you are a local resident who is finding it difficult to tackle the numerous payments you are making towards your home, car and credit cards, getting debt help is a sensible thing to do. Making monthly payment towards multiple debts could be very stressful. Not all creditors are the same. Each one will have a different interest rate. In the long run, this debt repayment may become very complicated too. Firms offering consolidation loans can provide you with great solutions to get you out of debts faster.

Easy Repayment

When you contact a consolidation loan firm they will analyse your financial and debt situation. Based on your monthly income, they will consolidate all your loans into one single monthly payment. The best part of opting for consolidation loans is that you will be not be repaying your debt at a higher interest rate. The consolidation firm will work out a nominal interest rate for you based on how much you earn. Everyone wishes to lead a stress-free life. By consolidating all your debts you will be able to do exactly that. Since you do not have to keep track of multiple deadlines and payments each month, you can focus on paying off your debts faster. In addition, you will also have a longer time to pay off your loans.

Newbie 11:02 AM Admin Bandung Indonesia

Convenient Repayment of Debts With Consolidation Companies

As you may know already, Chapters 7, 11, and 12 will remain on one's credit report for ten years from the filing date. A Chapter 13 bankruptcy is reported for seven years from the filing date. Accounts included in a bankruptcy will remain for seven years from the date reported as included in the bankruptcy. Your ability to re-establish your credit after filing bankruptcy is better now than it has ever been. After your bankruptcy is discharged, you will start receiving a great number of solicitations offering to finance homes, vehicles and credit cards.

These are some of the following steps you should take:

1. Examine Your Credit Report - The very first thing you should do is obtain a copy of your credit reports and make sure there are no errors or inaccuracies in you report.

2. Pay Your Bills On Time, Every Time - Pay your bills and rent on time all the time. Remember your payment history is 35% of your credit score.

3. Bank Account - Start with a checking or savings account. Lenders may use this to determine if you are currently being responsible with finances.

4. Build With Store Credit - Apply for store credit cards or gas card. Use it for items you would normally pay cash for, this way it keeps your monthly balances within reason which makes it easier to pay off each month.

5. Secured Credit Cards - Apply for a secured card where you can deposit cash and charge against it. Pay advances back over two months so that they will be reflected as positive marks on your credit report.

6. Friends Or Family - Find a friend or relative that is willing to co-sign for you on a loan or add you to their credit file.

7. Look For The Right Lenders - Search out lenders that are more apt to consider to help you even with a bankruptcy.

8. Buying A Car - If you buy a car, make sure it's a used car so you do not get hit with the depreciation that occurs during the first two years of a new car purchase.

9. Stay Away From Payday Loans - Payday loans that are at high interest rates they are a "bad credit" trap.

10. Be Proactive - Often times writing a letter to each of the credit bureaus explaining the circumstances that initially lead you filing for bankruptcy.

One of the most important lesson to learn in dealing with the challenges of a bankruptcy is to be patient. Understand that the path to bankruptcy did not happen overnight. And neither will the path to improving your credit. By following the tips above, the path to improved credit score is very possible. If you adhere to these 10 tips you will be able to improve your credit score and your life.

Consumer Credit Ratings, LLC is dedicated to protecting consumers from unethical behavior and illegal practices by creditors. We are committed to consumers being treated fairly & making sure that the information being reported by creditors are accurate. When it comes to credit repair services we can make no guarantees, however what we can guarantee you that we will do everything possible within means of the law to improve your credit, we further promise to provide the best in customer service and go above and beyond your expectations.

Newbie 11:59 AM Admin Bandung Indonesia

How to Improve Your Credit After Bankruptcy

An increasing number of people are choosing flexible working opportunities with their employers, as it enables them to successfully combine both their lifestyle arrangements and their family commitments.

However, many have found that when it comes to visiting their local bank branches while looking for a home loan, car and truck loan or even equipment finance, their local bank is still apprehensive towards them. And, it is because of their irregular working hours:

1. They don't seem to fit into the strict lending guidelines set out by banks; and

2. They are not seen by banks as holding down a stable job with a regular income.

What the Common Unusual Employment Types?

Here are some of the common unusual employment types:

1. PAYG (pay-as- you- go) contractors

2. Casual workers

3. Part-time workers

4. Self-employed individuals

5. Sub-contractors

6. People with other forms of income

Type 1 - PAYG Contractors

PAYG contractors are normally employed via an agency or directly via their employer. This form of employment is now common in a variety of fields such as:

>> Medical;

>> Engineering;

>> IT (Information Technology);

>> Mining;

>> Project Management;

>> Construction; and

>> Government.

So, if you are a PAYG contractor and you are looking for finance, here is a list of things that lenders/credit providers will require you to provide:

1. You will be required to provide a copy of your most recent "Employment Contract", with income details listed;

2. You will need to provide evidence that you have a minimum of 12 months employment in the same industry and that you have a good track record in your chosen industry; and

3. You will need to provide evidence that your employer or employment agency takes care of your income tax and superannuation contributions for you.

Note: If you are not on the direct payroll of an employer or employment agency, you may be treated as being self-employed.

Type 2 - Casual Workers

This type of employment applies to people working on a casual basis in the following industries:

1. Restaurants;

2. Retail;

3. Teaching and Tutoring;

4. Nursing;

5. Childcare;

6. Trades;

7. Drivers; and

8. Cleaning.

If you are a casual employee, you will need to provide evidence that you have been employed at the same place for at least 6 months.

Lenders/credit providers will calculate your average earnings over a set period, and count this as your income. However, if you want to work out your own average earnings, then you can use an income annualisation calculator to calculate your own average earnings.

Type 3 - Part-Time Employees

If you are employed on a part-time basis, you will find that lenders/credit providers will generally require you to:

1. Provide evidence that you have been employed at your current place of employment for at least 6 months: and

2. Provide copies of the following documents:

>> Current computerised pay-slip covering a minimum of two (2) pay cycles in order to confirm details of your base income; and

>> PAYG Summaries; or

>> A signed letter of employment from your employer listing details of your current base-remuneration.

Type 4 - Self-Employed Individuals

You are self-employed if you run your own business. You are categorised as self-employed individual even when you are conducting freelance work as a journalist, photographer, tour guide, etc. In such a situation, you will find that most lenders/credit providers will require you to provide evidence that you have a regular income to sustain a loan. This includes providing evidence that:

1. You are a business owner or partner;

2. You have been trading in your current business for at least 24 months;

3. Your business provides a steady income; and

4. You will be required to provide copies of:

>> Your most recent Personal and Business Income Tax Returns, and

>> One set of the business financial statements, reflecting two (2) years trading activity

Note: If you conduct freelance work with an employer, you may find that lenders/credit providers may require you to provide a copy of the written agreement between you and the employer that outlines your pay and conditions.

Type 5 - Sub-Contractors

Sub-contractors have specialized skills and they are generally employed by a primary contractor to provide specialized services in a variety of fields such as:

1. Building and Construction;

2. Mining;

3. Civil Engineering; and

4. IT (Information Technology).

Note: Many sub-contractors have little to no overheads and no staff and most are typically self-employed. In a sense they are similar to PAYG contractors.

Type 6 - Other Forms of Income

If you receive any other form of income and you are unsure if it is acceptable to lenders/credit providers, you should seek help from a qualified and licensed finance broker or a mortgage broker. You can even seek financial and legal advice from your accountant and solicitor. These other forms of income can include:

1. Centrelink payments;

2. Commissions and Bonuses income;

3. Trust Distributions income;

4. Car Allowances;

5. Annuity Income from Superannuation;

6. Director's fees;

7. Second Job income;

8. Investment income (i.e. Dividends received from publicly listed companies); or

9. Court Ordered Maintenance payments.

Seek Expert and Professional Advice

If you still have doubts regarding your employment status and want to obtain finance, you can seek help of a finance broker. You should opt for a professional qualified finance broker because he/she will have experience of dealing with many lenders/credit providers on a regular daily basis. Also, he/she will be familiar with the lending guidelines and credit policy requirements of a number of lenders/credit providers.

Singh Finance is Australia's best finance brokerage firm that employs a team of expert and professionally qualified finance brokers who are willing to help and guide you through the loan process requirements, and if you require finance they will also help you in obtaining car loans, pharmacy loans, business equipment finance and plethora of other finance packages. Call on 0424 190 or enquire online now.

Newbie 11:57 AM Admin Bandung Indonesia

How to Get Finance With Unusual Employment

A guide to many of the terms used in the consumer finance market.

A

Acceptance Rate - The percentage of customers that are successful when applying for a loan or credit card. 66% or more applicants must be offered the advertised rate know as the Typical APR (See 'Typical APR' below).

Annual Percentage Rate (APR) - The rate of interest payable annually on the loan or credit card balance. This allows potential customers to compare lenders. Under the Consumer Credit Act Lenders are legally required to disclose their APR.

Arrears - Missed payments on a loan, credit card, mortgage or most kinds of debt are termed Arrears. The borrower has a legally binding obligation to settle any arrears as soon as possible.

Arrangement Fee - Generally for the administration costs of setting up a mortgage.

B

Base Rate - The interest rate set by the Bank of England. This is the rate charged to banks for lending from the Bank of England. The base rate and how it may change in the future has a direct influence on the interest rate a bank may charge the consumer on a loan or mortgage.

Business Loans - A loan specifically for a business and generally based on the businesses past and likely future performance.

C

Car Loan - A loan specifically for the purchase of a car.

Consumer Credit Association (CCA) - Represents most businesses in the consumer credit industry. Government, local authorities, financial bodies, finance focused media and consumer groups are all members. Members sign a constitution and must follow a code of practice and business conduct.

County Court Judgement (CCJ) - A CCJ can be issued by a County Court to an individual that has failed to settle outstanding debts. A CCJ will adversely affect the credit record of an individual and can possibly result in them being refused credit. A CCJ will stay on a credit record for 6 years. It is possible to avoid this major negative stain on your credit record by settling the CCJ in full within one month of receiving it, in this case no details of the CCJ will be stored on your credit record.

Credit Crunch - A situation where Lenders cut back on their lending simultaneously usually down to a shared fear that borrowers will not be able to repay their debts.

Credit File - Information stored by credit reference agencies, such as Experian, Equifax and CallCredit, on an individuals credit and borrowing arrangements. The Credit File is checked when Lenders consider a credit application.

Credit Reference Agencies - Companies that keep records of individuals credit and borrowing arrangements, amounts owed, with who and payments made, including any defaults, CCJ's, arrears etc.

Credit Search - The general search undertaken by the Lender with the credit reference agencies.

D

Debt C0nsolidation - The transfer of multiple debts to a single debt via a loan or credit card.

Default - When a regular debt repayment is missed. A default will be recorded on an individuals credit record and will adversely affect the chance of success of any future credit applications.

Data Protection Act - An act of Parliament in 1998 and the main legislation that governs the use of personal data in the UK. Lenders are not allowed to share an individuals personal data directly with other institutions or companies.

E

Early Redemption Charge - A fee charged by Lenders if a borrower pays back their debt before the debts agreed term is reached.

Equity - The value a property has beyond any loan, mortgage or other debt held upon it. The amount of money an individual will receive if they sold their property and repaid the debt on the property in full.

F

Financial Conduct Authority (FCA) - The government appointed institution responsible for regulating the finance market.

First Charge - The mortgage on a property. A Lender who has first charge on a property will take priority for repayment of their mortgage or loan from the funds available after the sale of a property.

Fixed Rate - An interest rate that will not change.

H

Homeowner Loan - Also commonly known as a secured loan. A Homeowner Loan is only available to individuals that own their own home. The loan will be secured against the value of the property usually on the form of a second charge on the property.

I

Instalment Loans - Multiple loan repayments spread over a period. Depending on the Lender their may be flexibility in the repayment amounts and schedule.

J

Joint Application - A loan or other credit application made by a couple rather than a single person e.g. husband and wife.

L

Lender - The company providing the loan or mortgage.

Loan Purpose - The purpose for which the loan was acquired.

Loan Term - The period of time over which the loan will be repaid.

Loan To Value (LTV) - Generally associated with a mortgage and taking the form of a percentage. This is the loan amount in relation to the full value of the property. e.g. an individual may be offered a mortgage of 90% LTV on a property worth £100,000. In this case the offer would be £90,000.

M

Monthly Repayments - The monthly payments made to settle a loan including any interest.

Mortgage - A loan taken specifically to finance the purchase of a property in most cases a home. The property is offered as security to the Lender.

O

Online Loans - Although most loans are available online. The Internet has allowed for the development of technology that allows for the faster processing of a loan application than traditional methods. In some cases a loan application, agreement and the funds appearing in your account can take as little as 15 minutes or less.

P

Payday Loan - A short term cash advance of up to 31 days which is repayable on your next payday. Payday loans come with a high APR because of the shorter term of the loan.

Payment Protection Insurance (PPI) - Insurance to cover debt repayments should the borrower be unable to maintain their repayments for any number of reasons including redundancy, illness or an accident.

Personal Loans - A general loan for any purpose and in varying amounts that can be provided to an individual based up on their credit history.

Price For Risk - Lenders now have a range of interest rates that are chosen based on an individuals credit score. An individual with a poor credit score is deemed High Risk and will likely be offered a higher interest rate as the Lender factors in the possibility of them defaulting on their repayments. Conversely an individual with a high credit score and a good credit history is considered Low Risk and will be offered a lower rate of interest.

Q

Qualifying Criteria - The eligibility requirements required by the Lender. The most basic criteria required to qualify for a loan in the UK are; permanent UK residency, age 18 or over and a regular income. Many Lenders may also include extra lending conditions.

R

Regulated - financial 'products' that are overseen by the Financial Conduct Authority (FCA). Lenders must follow a code of conduct and individuals are protected by the Financial Services Compensation Scheme (FSCS).

Repayment Schedule - The time period over which a loan will be repaid and the details of the loan repayment amounts.

S

Second Charge - A second loan, in addition to any other loan, that is secured against an individuals property.

Secured Loan - Also commonly known as a Homeownr Loan. A secured loan is only available to to homeowners. The loan amount is secured against the value of the property. The Lender has the right to repossess your property should you fail to maintain the loan repayments.

Shared Ownership - An agreement in which an individual owns only a percentage of the property. The remaining percentage is owned by a third party often a housing association. The individual may have a mortgage on the part of the property they own and pay rent on the part of the property they do not own.

T

Total Amount Repayable - The total amount of the loan plus the interest and any applicable fees.

Typical APR - The advertised interest rate that is offered to a minimum of 66% of successful loan applicants.

U

Underwriting - The process of verifying data and approving a loan.

Unregulated - Not covered and regulated by the Financial Conduct Authority (FCA).

Unsecured Loan - A loan that does not require collateral and is provided on 'good faith'. Under the belief by the Lender that you can repay the loan based on your credit score, credit history and financial standing amongst other factors.

V

Variable Rate - An interest rate that will change during the loan repayment period.

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Newbie 11:00 AM Admin Bandung Indonesia

Glossary Of Consumer Finance Terms

Without a doubt, establishing and maintaining retirement benefits are important for all of your business owner clients. Fortunately, we practitioners now have greater options than ever before to help our clients. Current customized specialty programs are more efficient, provide greater benefits and are now possible since the passage of the Economic Growth and Tax Relief Reconciliation Act of 2001 followed by the Pension Protection Act. When done correctly, these plans can reduce taxes and provide future benefits. If done incorrectly, they may bring IRS scrutiny, among other problems. To avoid unwanted issues, you may want to consider some of the following plans available to business clients.

Qualified Retirement Plans; Qualified retirement plans are particularly suitable for small business owners who are in high-income tax brackets because they are fully deductible from ordinary income taxes to the business owner. This may also serve as a solution to the looming Alternative Minimum Tax (AMT) issue because they are not a tax-preference item.

Cash Balance Plans; Cash balance plans have been used to reduce the cost of employee benefits and can now be capitalized on to a greater extent since the passing of the Pension Protection Act. Cash balance plans offer employers advantages not available with other qualified plans. For example, small business owners can make large defined benefit-sized contributions with small 401(k)-sized costs for the employees. They can be used when employee cost is too large to make a traditional defined benefit plan appealing to the owner(s). When designed properly, the owner(s) contributions can exceed $100,000 per year and can even exceed their salary. A cash balance plan can be combined with a 401(k). A properly designed cash balance plan can make 90 percent of the contributions and benefits available to the owner(s) and/or preferred participants.

Self-employed Individual and Partnership Plans; Self-employed individuals and partnerships consisting of only owners and their spouses (i.e., no common law, non-owner employees) should consider the Micro (K) ®. For example, a one person S Corporation in which the sole owner has $116,000 of compensation paid on IRS Form W-2 can receive 25 percent of eligible payroll as an employer deductible contribution. Then the owner, as an employee, can defer salary up to $15,000 (2006 limit). Consequently, a W-2 $116,000 salary results in an allowable deductible contribution of $44,000. The calculation for a business entity that is not taxed as a corporation (no W-2 compensation) is not so simple, but the results are somewhat similar. This plan can also make life insurance tax deductible, if desired. Additionally, up to $50,000 can be borrowed from the plan.

Small Business Plans; Many small business clients have used a SEP-IRA or basic profit sharing plan for their retirement needs due to the simplicity and low cost of these designs. However, recent favorable tax law changes have made these designs less effective. Worse yet, if you have any eligible employees, these may be among the most expensive plans to fully fund. A Dash 401(k) is a much better alternative. One of the many benefits is a substantially lower employee cost. Unlike a SEP-IRA, a Dash 401(k) will allow you to borrow up to $50,000 from the plan. This allows a business owner to make the greatest possible contribution without tying up all of his money until retirement. The plan allows life insurance to be deducted, if it is needed. The Dash 401(k) is flexible.

For example, a business owner with a $100,000 W-2 wage has a staff member earning $40,000 in W-2 income while another staff member earns $25,000 in W-2 income. The Dash 401(k) would allow the owner a contribution of $45,000, while the workers' contributions would be $2,000 and $1,250, respectively. This is a great way to maximize your business clients' income and retirement security potential.

Additional Plan Options - If your client has a C Corporation and wants to get money out while obtaining a deduction, a §162 executive bonus plan could be considered. With this option money taken out of the corporation is a deduction. The plan can be discriminatory and the money can take the form of a bonus to the owner and/or key executive.

With these or any other type of plans, business owners must be careful when choosing a tax advisor. We are constantly called to help when a business owner runs into trouble. Many investment providers have entered the market with little emphasis on administration. A document may be provided, but no effort is made to monitor the calculation of allowable contributions. In addition, there is no built-in method for dealing with non-owner common law employees who are hired, or are improperly excluded because they are considered part-time or independent contractors. Many plans, especially 401(k) and profit sharing plans, quickly run unfavorably for reasons such as:

• Improperly excluded part-time employees.
• Improperly timed salary deferral elections and deposits
• Incorrectly calculated profit sharing contributions
• Incorrectly calculated loan amounts.
• Improperly managed loan repayment schedules.
• Incorrectly calculated incidental life insurance premiums.
• Improperly timed salary deferral elections and deposits.
• Improperly excluded newly eligible non-owner participants.
• Failure to make top-heavy minimum contributions.

The IRS, Department of Labor, and other regulators have increased enforcement and penalties. Some popular plans currently being sold are considered potentially abusive tax shelters, even putting the accountant at risk for penalties.
Remember, the time to handle potential problems is before they happen.
Newbie 10:48 AM Admin Bandung Indonesia

Maximize the Potential of Your Business Clients

Online banks are not recent evolutions in the financial world, with humble beginnings starting in the early days of the internet around 1995. Today, using an online bank is universal and widely popular.

We're speaking of internet banking, with all the product and service found in traditional banks, but with much of the overhead removed. Internet-only banking is the marriage of cloud computing with high-tech efficiency. It delivers a transparent super-charged system of personal money management.

A word to the wise, here, it's not the same as using your traditional banks e-commerce or mobile services. The online bank experience has advantages not matched by the traditional banks with their widespread physical presence and higher operating costs.

Savings Accounts

Savings account balance requirements are rather friendly with online banks. On average you only need a balance of $350 or higher with online banks before service fees kick in.

Traditional banks average $4,500 minimum balance to get out of fee charges. My personal bank requirement is $3,500. A $12 per month fee applies if the balance drops below $3,500, even if for one day.

Beyond lower fees, interest rates paid by online banks are higher. The four largest brick and mortar banks in the U.S., all with worldwide presence, pay 0.01% annually compared to 0.95 - 1.00% with their online siblings.

Framing this in real dollars, $10,000 in a savings account at 0.01 percent interest will earn a whopping $1 after a year. However, $10,000 at 0.95 percent will yield $95 in interest. That's $94 extra dollars before the power of compound interest growth kicks in.

Checking Accounts

You can open most checking accounts with $0.00 - $50 at internet-only banks, and account fees are generally lower than store-front banking. Often, standard checks are at no cost, plus free re-orders are common.

Other bank assessments like overdraft fees, transfer charges, and special service costs are lower, too. There are some online banks that charge nothing for overdraft transfers, ACH transfers and cashier's checks.

ATM's

No doubt ATM service is a must in banking and lets traditional banks run with a smaller footprint. While online services can't top the corner bank for branded ATM locations, they do offer a functional alternative.

Allpoint ATM network is predominantly used for automated teller services by online banks. Allpoint ATM has 55,000 free for use ATM's in North America in retail locations like CVS Pharmacy, Target, Costco, and others. Some internet banks will reimburse for fee's charged at non-network ATMs as a way to offset site limitations.

Deposits

While this is a bit tricky for some people, depositing money into an online account really isn't difficult. As with local banks, you can easily deposit checks or cash into a network ATM.

Using a mobile banking app, deposits are possible from anywhere and at anytime, as long as a wireless network is available. Mobile deposits are as simple as snapping a picture of a check. The bank app records the deposit directly into your account.

Moving funds between accounts and transferring funds outside the bank system are just as convenient. Direct deposit of paychecks is straightforward with the app, too. It's no surprise that brick and mortar banks have moved into the mobile app arena.

Security

Security always seems to come up when internet and cloud computing is the topic. I won't say much about this other than data theft is a problem, but no more so whether with an online bank, private company, physician's office, or any business that stores data electronically.

This is scary to a lot of people, but I can tell you that banks with physical buildings don't offer any more comfort. Their data storage is cloud centered and transactions are electronic data transmissions.

Financial institutions ranging from Federal facilities, to Wall Street institutions, to local banks house our personal information in big data centers. In fact, data center companies are a huge business sector in America. While cyber security is a serious issue, it is not any greater issue with an online bank than the bank down the street.

Summary

The comforts found in a traditional bank are still important to a lot of people. Face to face contact is still a need at times, and traditional banks beat in areas such as loan officer availability, brokerage services, real estate & mortgage specialists, and other professionals.

But, it also comes down to the fact that brick-and-mortar branch banking carries a lot of costs, with the greatest being physical buildings and staff. This overhead passes straight to customers through fees, charges, and low-interest rates.

Online banks are cheaper to run because they don't have buildings to keep up nor large staffing needs. You can do everything done in traditional banking, but with efficiency, lower cost, and higher earnings return using an online bank. With the online bank, it's all about low fees and higher interest rates.

For many people, online banking is not the best option. For others, however, mobile app's, cloud technology, and mobile communication are second nature in their lives already. The online bank could simply be an extension into their current virtual world.

I have been an active investor for over 35 years. My investments have always been self directed. I favor value stocks with dividend growth and income potential. My tendency is to hold long positions in equities qualifying as Dividend Aristocrats.

The Seeds To Harvest personal blog came out of a lifelong interest in personal finance. This interest has led to teaching community classes to a variety of groups. Retirement activities include travel and volunteer site coordinator with the VITA Tax Program.
Newbie 10:27 AM Admin Bandung Indonesia

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