Category Archives: Finance

5 Key Traits Among Richer Person

  5 Key Traits Among Richer Person

  • Delayed Gratification

It seems contradictory but rich people adopt the attitude of getting rich so you can afford to live below your means. Average people live beyond their means.

  • Organized and Discipline

The wealth is tied to the systems. Being organized can make you more productive. Self-discipline is the ability to take action regardless of our emotional state.

  • RISK-Taking

To build wealth, one needs to be willing to take risks. This doesn’t mean uncalculated risks. It means weighing all the options and taking calculated risks when appropriate. The stock market has risks involved, but over the long term, history shows that it provides good returns on money that is invested wisely. Those who fear risk altogether end up saving money in accounts that likely lose money to inflation in the long run.

  • GOAL setting

The importance of setting and working toward goals is obvious. If you don’t know where you are going, it’s difficult to get there. Those who lack goals don’t have a road map to take them to the financial destination they want. Average people dwell on the past which often holds them back by making them unhappy or depressed

  • ACTION Mentality

You wouldn’t see a rich person lining up to play the lottery (even before they were rich). Average people are always waiting on someone else to help them get rich – lottery, Government, friend or spouse – but it only keeps them poor. Rich people take action and spend time solving problems.

The rich believes good habits create opportunity luck.

What Is Refinancing

Refinancing is the process of obtaining a new mortgage in an effort to reduce monthly payments, lower your interest rates, take cash out of your home for large purchases, or change mortgage companies. Most people refinance when they have equity on their home, which is the difference between the amount owed to the mortgage company and the worth of the home.

Consider the Options
House owners have quite a few options available to them when they are considering the possibility of refinancing their home.

Fixed rate mortgages – As the name implies, a fixed rate mortgage is one in which the interest rate remains constant throughout the duration of the loan period. This is an especially favorable type of loan when the homeowner has credit which is sufficient enough to lock in a low interest rate.

Adjustable rate mortgages or we called it ARMs – are mortgages where the interest rate varies during the course of the loan period. The interest rate is usually tied to an index such as the prime index and is subject to rises and falls in accordance with this index. This is considered a riskier type of loan and is therefore often offered to house owners who have less favorable credit scores. Although ARMs are considered somewhat risky there is usually a certain degree of protection written into the loan agreement. This may come in the form of a clause which limits the amount the interest rate can increase, in terms of percentage points, over a fixed period of time. This can protect the homeowner from sharp increases in the interest rates which would otherwise considerably raise the amount of their monthly payments.

Hybrid loans – are mortgages which combine a fixed element with an adjustable element. An example of this type of loan is a situation where the lender may offer a fixed interest rate for the first five years of the loan and a variable interest rate for the remainder of the loan. Lenders typically offer a lower introductory interest rate for the fixed period to make the mortgage seem more enticing.

Consider the Closing Costs
The closing costs associated with refinancing should be carefully considered when deciding whether or not to refinance the home. This is significant because when owners refinance their house they are often subject to many of the same closing costs as when they originally purchased the house. These costs may include, but are not limited to appraisal fees, application fees, loan origination fees and a host of other expenses. These costs can be quite significant. The closing costs will be significant when the house owner considers the overall savings associated with refinancing.

Consider the Overall Savings
When deciding whether or not to refinance, the overall savings is one factor the house owners should carefully consider. This is important because refinancing is typically not considered worthwhile unless it results in a financial savings. Although some house owners refinance to lower monthly costs and are not concerned with the overall picture, most house owners consider whether or not they will be saving money by refinancing.

The amount of money the house owner will save when refinancing is largely dependent on the difference between new interest rate and old interest rate. Other factors come into play such as the remaining balance of the existing loan as well as the amount of time the house owner intends to stay in the house before selling the property. It is important to note that the amount of money saved by negotiating a lower interest rate is not equal to the entire savings. The house owner must determine the closing costs associated with refinancing and subtract this sum from the potential savings. A negative number would indicate the new interest rate is not low enough to offset the closing costs. Conversely a positive number indicates an overall savings.

Personal Loan Insurance

Personal loans offer plenty of opportunity for individuals to improve their overall financial situation if the funds are used in conjunction with good money management skills. However, we all know things take place in life that we have no control over including death of a income source for our household, losing employment, or medical issues. These circumstances can all affect our ability to repay a personal loan. If that loan is secured, then you will lose your asset tied to it as well. To protect yourself from such horrible possibilities, consider purchasing personal loan insurance.

Personal loan insurance is the best protection you can have for repayment when the plan you outlined to cover the loan develops unexpected bumps in the road. The cost of such insurance varies, and is generally determined by the outstanding balance of your personal loan. The type of personal loan insurance coverage you choose will also affect the premium. However, this insurance can offer peace of mind for borrowers, especially those who have a secured personal loan.

There are three types of personal loan insurance coverage to choose from. The specific dollar amounts of coverage will depend on the laws in your State and the dollar amount of your loan. It is important to discuss personal loan insurance with any lender you are considering pursuing a personal loan with.

Personal loan death insurance will pay up to a certain dollar amount in the event of the death of one of the individuals on the loan. In the event that the personal loan only had one person’s name on it, then the loan balance will be paid in full up to the maximum dollar amount. Most personal loans only have a maximum loan amount of $15,000 however it is not uncommon for individuals to take out more than one personal loan.

Disability Plus personal loan coverage is the coverage most often purchased for personal loan protection. It will pay your monthly personal loan payments up to a certain dollar amount. In addition you will receive a cash payment of a percentage of your loan amount each month to help you with the cost of living expenses.

Involuntary Unemployment Coverage Insurance for personal loans is very popular. This type of insurance will pay up to a certain dollar amount per month in personal loan payments for up to a set amount of months.

Personal loans are a great financial tool when used properly. Personal loan insurance is a very responsible invest to help ensure your payments will be made regardless of medical issues, unemployment, or in the event of death. The insurance is especially important for individuals with a secured personal loan. Not only with their credit be negatively impacted, but they will lose valuable assets that are tied to their personal loan.

Personal loan insurance is very affordable and can often be purchased through the lender. It is important that you educate yourself in the area of personal loan insurance and inquire about it at the time of looking into such personal loans. Most lenders are more than happy to discuss this option with you as it further assures them they will receive the funds you borrow.

Benefits of Flipping Real Estate

The obvious benefit and sought after benefit of flipping real estate is the profit. This is one incredibly tangible benefit, particularly when the profits are large and quick to come your way. Of course there are risks. High risks high profit, low risks low profit.

Profit is the one reason that most people get into this business. The days are long and the work is hard. This is definitely not the type of work one would ordinarily undertake for the simple love of getting one’s hands dirty. This is real work that leaves you bone weary at the end of the day. However, when all the work is done and you get around to making the sell, you will find that the profit involved in a successful flip is well worth the effort you’ve put into the process.

The good news is that the savvy investor can still manage to make money even when the situation may not work out quite as planned. This is yet another benefit to flipping real estate. If the flip doesn’t work out, there is always the option of leasing to own the property or renting the property out. The profits in these situations are considerable less than a straight out flip but it can prevent financial ruin that is often the risk of a flip gone wrong. The fact that there are options and that you aren’t necessarily left ruined at the end of a bad flip is definitely a benefit. There aren’t many types of investments that allow you the option to save yourself the way real estate does.

One of the intangible benefits of flipping houses is that you are in essence working for yourself. You set your own work time. This can be a bad thing too if you lack the discipline required to get the job done. However, most of us will view this is a huge check in the pros column when deciding whether or not to take the plunge into the wonderful and frightening world of real estate investing.

Even though this is a business that requires a lot of work in order to turn an attractive profit there is some satisfaction at the end of the day involved in knowing that you are working for yourself and not to make someone else wealthy or in order to punch a time clock. That feeling of satisfaction is one that you should hang onto when the brand new toilet you’ve just installed becomes a geyser.

Real estate investing, house flipping in particular, can be one of the most frustrating types of investments a soul can pursue. At the same time it can also be one of the most rewarding mentally, spiritually, and financially. This is something you should keep in mind when deciding whether or not this is the right path for you.

Coupons for Online Shopping

Besides comparison shopping and seeking out sales, using coupons and promotional codes can also result in a significant cost savings for smart online shoppers. This article will discuss ways of finding coupons for online shopping and the importance of understanding the restrictions placed on the use of these coupons.

Finding Coupons for Online Shopping
The most common types of coupons and promotional codes available are those which offer a discount on the total purchase price of an order and promotional codes which offer free shipping on an order. Both of these offers can be financially beneficial to the shopper if he is able to find these valuable offers. There are a number of different ways in which a shopper may acquire coupons and promotional codes for online shopping.

Many online shoppers receive promotional codes for online retailers in catalogs they receive in the mail. These catalogs may include special offers in an attempt to entice the recipient of the catalog to make a purchase online. The shopper may receive these catalogs because they have made purchased from the online retailer in the past or because the online retailer is advertising to new clients.

Similarly shoppers may receive promotional codes offering discounts via email. This is common for shoppers who belong to buyer’s club organized by the online retailer. These types of clubs typically offer these promotional codes to regular customers to reward them for their consumer loyalty and encourage the shopper to continue to patronize the online retailer.

Another way for shoppers to find promotional codes for online shopping is through the Internet. There are websites where members frequently post the codes they acquire via catalogs and emails for the benefit of others who may be seeking a discount on a purchase from a particular online retailer. Shoppers can use these promotional codes as long as there are no restrictions on sharing these codes.

Restrictions on Coupons for Online Shopping
Shoppers who utilize coupons and promotional codes while they are online shopping should be aware there may be terms and conditions on the use of these coupons or promotional codes. Common examples of these restrictions include dates of expiration and required minimum purchase to use the discount. Another common restriction associated to offers of free shipping is a minimum purchase. In these cases the consumer must purchase more than a specific amount from the online retailer in order to be eligible for free shipping. In some cases the online retailer may even offer a greater discount to shoppers who are willing to spend more money on products or services. For example the retailer may offer a 10% discount on purchases of more than $100, a 15% discount on purchases of more than $125 and a 20% discount on purchases of more than $150. With all of these different types of restrictions on online discounts it is important for the consumer to fully understand these restrictions before attempting to use one of these offers.

Selling Your Home Fast

We all know that buying or selling a house can be a time consuming process.  Although there are thousands of people looking to buy houses, it can be a tricky process finding the right person interested in your house.  With hundreds of thousands of houses for sale in the United States, there is always some form of competition.

If you desperately disposing you house, you’ll need to attract as much attention as possible.  A real estate agent can help, although he can only do so much.  He can show your house and help to get it out there to buyers.  If you want to sell it fast, you’ll need to do some work yourself.  If you put the effort into selling your house fast, chances are that you will.

The quickest way to sell a house is by staging it.  Staged houses literally invite the buyer in, making him feel right at home.  Staged houses are also appealing both inside and out, and are more or less ready to be moved into immediately.  They don’t sit on the market for long at all, yet they bring a top dollar sell.  If you are familiar with staged houses – you should know that they are among the fastest selling houses on the market.

If you don’t want to hire a real estate agent, it’ll still quite possible to sell your home – and sell it fast.  You need to do everything yourself, which involves getting your home out there to the market and showing it to potential buyers.  You can always list your house in local newspapers, magazines, and put a “For Sale by Owner” sign in the yard.  This way, you are letting buyers know that your house is for sale.  Some buyers prefer houses that are for sale by the owner, as they don’t have to pay a real estate agent or deal with one directly.

When you sell your house, you should always make sure that the exterior is clean, the lawn is trim, and the interior is in superb condition.  If you plan to live there until it is sold, you’ll want to make sure that you have the interior staged as best as you can.  You want to give the buyer a great feeling, so he’ll stay and won’t leave.  If your house is visually appealing both inside and out, a buyer will want to see more.

Once a buyer wants to see more of your house, chances are you have found the individual who will buy it.  You should never make the buyer feel pressured, but instead make him feel that you are interested in his thoughts and opinions.  If you show a buyer that you care – you will go a long way in establishing trust – which will help you sell your house.

Porsche Cayman

Porsche-CaymanThe Porsche Cayman is a rear mid-engined, rear wheel drive 2-seat sports car produced by Porsche AG of Germany. Like all other Porsche, the Cayman is not very big, which makes it very practical and usable. And for all its obvious Boxster genes, the Cayman is very much its own car with its curvaceous rear wings and neat fastback roof. As with other Porsches, there’s a movable rear spoiler, which deploys above 120km/h.

The Cayman has 3.4-litre engine, a mix of the cylinder barrels of a 911 with the crankshaft of a Boxster. A 911 engine is of 3.6 or 3.8 liters and a Boxster S has a 3.2-litre engine. It’s a strange thing, but even though today’s Porsche  engines are water-cooled, they still overlay their intake and exhaust notes with a breathy whine like that of the giant air-cooling fans of old.
Basically, the Cayman is a mix and it doesn’t have a huge number of new and unique parts. In short, the Cayman is a structure two and a half times stiffer because it’s just a Boxster with a roof. In turn, that means that the driving experience becomes much more focused because its suspension can have tauter, sportier setting.

Porsche Cayman reaches a maximum speed of 275 km/h and gets from zero to 100 km/h in 5.3 seconds, even if the fuel thirst is low for such pace. The Cayman is especially good with the optional Porsche Active Suspension Management (PASM), but unlike a 911, it works well enough without it, thanks to a ride that’s firm but seldom turbulent. PASM makes the Cayman sit 10mm lower, and in its Sport mode it tautens the damping. And it feels absolutely fantastic when you have the Chrono option (complete with stopwatch for timing your hot laps).

Porsche Cayman is a remarkable illustration of a rigid, solid-roofed body-shell’s advantages. The Cayman S has all the positive Porsche attributes you could want, and none of the snags. It’s not the fastest Porsche, not the fiercest, not the most breathtaking. It is a pooling of other Porsche parts, which means that the Cayman is not expensive to develop but it will generate big profits. The new car, by the way, takes its name not from a tax-haven archipelago, but from a type of crocodile.

Debt Management for Personal Loans

A personal loan might be right for you if you want to fund a big expense or if you want to consolidate debt. Personal loans may come with lower interest rates than credit cards, so funding a big expense or project with a personal loan could save you thousands of dollars on interest payments.Too often, individuals access money quickly then struggle to repay it. If you don’t have a good budget in place you may find yourself unable to make the payments on your personal loan.

An area where many individuals get into trouble with personal loans is debt consolidation. Due to bad spending habit and lack of money management skill, within a year most people who use personal loans for this find themselves in even worse financial shape.The result is they charge their credit cards up to the limit and now have those payments to make again as well as a personal loan payment. They may soon find they are drowning in the swimming pool of debt.

Enrolling in a debt management plan may be a great alternative for you to help you meet your financial obligations. Most debt management plans involve working with your creditors to reduce interest rates as well as working with the individual to establish a realistic budget and work to change spending habits.

The first step in the process is to do some research on the debt management programs available. Find out how long they have been in business and check for any reports from customers with the Better Business Bureau. Once you have chosen one, call to discuss your situation with them and schedule an appointment. You will need to bring statements for all of your bills as well as verification of your income.

With a debt management counselor you will discuss your monthly obligations. They will work with your creditors to reduce the interest on your debt. This will reduce your monthly payments. You will then make one monthly payment to the debt management agency. They will then disburse the funds to your creditors. You will continue to get monthly statements from your creditors for your records.

It is important that you understand you can’t use any of your credit cards that you place into a debt management program. Keeping that in mind, you might want to choose one with a very small limit that you pay separately. You will avoid making any additional charges on that credit card unless it is an absolute emergency. You will want to discuss this with your debt management counselor.
Learn How to Protect your Lifestyle with Long Term Care Insurance!
Most creditors are willing to accept the terms of a debt management program because it shows you are accepting responsibility for your debt. They want to recoup the money you owe so this is a very realistic way for that to happen. Most debt management agencies have policies in place about missing payments. Generally, if you miss two payments in a row they will drop you from the program. It is important you notify the debt management agency if you are having difficulties with making a payment.

Obtaining credit is often too easy, yet repaying it can be a struggle you have for a large portion of your life. If your personal loans and other debt have spiraled out of control, contact a debt management program to see if they can help your situation.

 

Tips For Selling Your Home

Keep in mind that selling your house is not an easy job. Before you even think about selling your home, you should put a lot of thought and consideration into it.  Although you may want to sell your home – you should make sure that you do it the right way.

If you wish to sell your property you can find a buyer yourself or use an estate agent. Before making a decision you should consider how much each method would cost and how much time you have available.

Sell your house yourself – without a real estate agent, this can save you quite a bit of money, as you won’t have to pay commission to your real estate agent.  If you are planning to go this route, you should make sure that you know the value of your house and you know the neighborhood.  Houses that are for sale by the owner are always great for buyers – as they can deal with the owner directly and not have to worry about dealing with any real estate agents.

Real estate agent – An agent who knows your neighborhood will known the ideal price for your house, and help you sell it at the ideal price.  If your house is priced right for the neighborhood, chances are it will sell.  If it is priced too high, you might not get any offers or anyone interested in buying the house. Your agent will be in charge of advertising, showing and completing the legal requirements of selling your house.

Once you have a real estate agent, you and your agent will need to develop a strategy.  You’ll need to decide on the price and how long you will leave it on the market before you think about a reduction.  You’ll also need to discuss his commission as well, which will help to avoid any misunderstandings in the future.  If you talk about these types of things when you first start out selling your house, you’ll find the entire process to go much smoother.

If your house is currently rented out, you may offer to your tenant. They are your most potential buyer since they have already familiarize with the neighborhood. Partly furnished house can sell at a higher price compare to a empty house. Make sure your house is clean and painted with neutral colours, this will enhance the perceived value of the buyer. Doing any repairs or decorating if this would make it easier to sell the house.

Porsche 550 Spyder

Porsche_550_SpyderThe Porsche 550 was a racing sports car produced by Porsche from 1953-1956. This was the first true competition car from Porsche. It was lightweight, it had two seats, aluminum body, tubular frame and an open top. They were racing only with Volkswagen. The initial pair of 550 dominated their class at Le Mans finishing one-two in the 1500cc division. Then, one of the two cars won its category in the famed Pan Americana Mexican  road race.

Subsequent 550`s carried on what the initial 550`s had started. They were fitted with the four-cam Carrera flat four cylinders. They soon became dominant cars world wide.  During races, it was fast and easily maneuvered so no other car stand a chance. But people loved it purchasing every one of these quick little cars they could find.

In 1956, Porsche started to produce the 550A, a slightly modified Spyder, which was an evolution of the RS with a birdcage like space frame chassis and modified lighter body shape. By the time the 550A ceased championship racing after the 1958 season, it had not just established the 550 as a legend, but it had also begun to mould the future of the Porsche model. It was a hit, shocking the entire world by winning in its first Appearance in Targa Florio, a brutal road race. It also humbled well-known and more powerful rivals such as Ferrari, Maseratti and Jaguar. In the next five years it won almost all the races in which it competed. It became a car that attracted more attention for its occasional losses than for the nearly non-stop victories.

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