Operating Income Margin

Only those companies that are making good quality products can apply high mark-up for its products, because usually their products are more expensive to make and they require more time to prepare it for the market. These products can be done using more hand work or better materials and so on. Products of a high quality and high operating income company are usually more expensive and the amounts of such product bought will not be so vast. Higher operating income margin helps for the company to earn more profit even if the costs of the product are high. High quality of a product helps to gain the reliance of customers that are more sensitive to the quality rather than price.

If low quality company applies high markup, it doesn't mean that the price of a product will be high. If costs of goods sold are very low the company can earn high mark-up and the price of a product can still be lower than other the same type products in the market. Usually the quality of such products is very low. But if the mark-up is not so high for these products, the company can offer products at a lowest price in the market and sell more of them. Economy of scale helps for such companies to earn good profits and stay in the market with low quality products.

Companies that have higher operating income margins and apply higher mark-ups can offer higher discounts for their products and make it more liquid and attractive for the customers. Higher operating income margin gives a space to vary for the mark-up of a product. If a company applies low mark-up, it cannot offer big discounts, so sometimes if managers want to liquidate the oddment of its products, they have to sell them for the lower price than they really costs and in such way they may suffer loss.

Other aspects of higher than usual mark-up, is brand name. Well-known companies use their brand name to apply higher mark-ups for the products. Usually these companies have high operating income margins. These companies are reliable and respectable in the market, so they have fewer problems with oddments of their goods. Such companies may offer discounts only for special occasions, holiday days, etc., because they don't have problems with demand of their products.

As you can see - operating income margin shows the ability of the company to earn profit from its operations. The mark-up that is used in the company shows if the product is high or low quality and if the company can offer higher discounts without suffering loss. Usually if the company has well-known brand name it has high operating income margin and is more attractive for investors.

What You Can Do To Manage Your Money

If you don't properly manage your finances, you can suffer physical and emotional consequences. Read on for some tips on managing your finances.

Make sure you stay on top of your credit score. If you want to have low interest on a loan or credit card, you will need to have a good credit score. Low credit ratings also can prevent you from purchasing your dream home or getting credit when you need it. Use your credit proficiently to protect your credit score.

Use your tax return to help reduce the amount of your debts. Rather than repaying their debts, most people go shopping with their tax refunds. By doing this, the debt is still there, even when the money isn't.

When you're having trouble getting rid of credit card debt, avoid adding new charges. Cut your spending and do everything you can to avoid maxing out any of your credit cards. Be sure to pay your monthly balance prior to starting to use your card again.

If you are going to make little purchases, carry cash, bank checks and a debit card. Merchants are allowed to establish a minimum account for credit cards or bank checks.

The balances on your credit cards affect your FICO score. Your score may be lower if your credit cards have a high balance. On the other hand, when you pay off your credit card balance, your FICO score will improve. Do your best to keep your balance below the maximum credit limit by 20% or less.

If you are thinking about buying a new house, you should build your credit score to begin with. You can either pay back your small loan or get two cards with the balance. You need to pay your card as a whole on all of your bills.

Many products out there have some kind of a warranty on them, and if something should go wrong with the product, it would tend to happen during the period of the warranty. Extended warranties only serve to profit the company you bought them from.

Consider adding international investments to your portfolio. No-load mutual funds are the safest way to make foreign investments and are not as volatile as individual stocks.

When you are married, the spouse that has the better credit should apply in their name. If your credit is poor, take time to start building it up with a card that is regularly paid off. After achieving good credit scores, spread the debt between both of you.

Try negotiating with collections agencies. These agencies bought your debt for pennies on the dollar. They will make a profit even if you pay a percentage of your debt. Use this to your advantage when paying off old debts.Find out how much you can spend and create a budget on your findings Find and target areas where you are spending too much money. Not tracking your money and where you spend it is one of the main reasons people end up in debt and with no savings. In order to make this less stressful and perhaps more interesting, you can use personal finance software. If there is money left, you can use these funds to pay off debt or put it into a bank account.

Avoid using credit cards instead pay with your business checks. Also find ways to reduce interest payments on other loans such as car loans and your mortgage. It is a waste to have to pay interest. If you are wanting to maintain a comfortable lifestyle, then you should always avoid interest payments whenever it is possible.

Always review your bank and credit card statements for accuracy. This way you can make sure the fees and rates have not quietly increased on you. Many folks don't review bank statements and end up paying more in fees than necessary. Read your statement carefully each month for the reason.

It would be very nice if eating out were free. In reality, someone must pay for the dinner as well as the tip to the servers. Paying the bill and leaving the right tip are very often an area of concern or confusion. This should never turn what was a delightful dinner into a quagmire or uncomfortable scene.

In general, if you are invited by someone out to dinner, that person intends to pay the bill. The tides begin to turn, though, when groups of people decide to dine out together. In this case, the rule is that each person, or couple, is responsible for their portion of the bill and tip. The expression traditionally used is "Going Dutch". It sometimes gets a little tricky- especially when each person's math skills may be a little shaky. Sometimes a person will add up what they had using the prices on the menu- but fail to consider the sales tax. Without a calculator, it is difficult to figure your portion of the sales tax. You most definitely do not want to come across as selfish or stingy. For instance, if your portion of the bill is $20 in menu items, and the tax is 6%, you should round up to the nearest dollar for the tax. If anything, that portion over the true amount would wind up as more for the tip to the server- and unless the service was poor- that is never a bad thing. If you cannot afford the extra cents, then you should not be going out to dinner in the first place.

Sometimes, someone will grab the check and offer to pay. Unless that person has invited you to dinner, never assume he or she is paying for dinner. Instead, each person or couple should politely ask to see the bill so that they may pay what they owe. If the person who grabs the bill says he or she is "taking care of it", there is always some sort of friendly bickering about that- because no one wants to seem unappreciative. It is also their way of showing humility. However, if the person insists, again, that they wish to pay the bill, do not go back-and-forth in an argument. Be gracious, polite and express your appreciation. You may wish to say that the next dinner is on you. In this case, this process goes smoothly, no one is insulted and the evening can end on a very pleasant note. Keep in mind, though, that if you say the next dinner is your treat- you MUST pay the bill the next time you dine with this person or people.

Leaving the right tip is another area which can cause confusion. This is because there is a great deal of flexibility involved in tipping. Some restaurants include the tip in the bill. If this is the case, it is stated on the menu. Be sure to take note of this so as to avoid double tipping. You are free at your discretion, though, to add to the tip if you feel inclined to do so. The traditional amount to tip is 15% of the bill before the tax. That is the minimum you should expect to pay if the service was appropriate. More and more people today tip at the rate of 20% of the bill before the tax. Some choose to include the tax when calculating the tip. Some, again, choose to tip a greater amount for extraordinary service or because they are very generous. In any case, be sure that you tip at least the minimum for good service.

To formulate a plan to save money on food, the first thing you need to do is understand your family size, lifestyle and storage area. What flexibility do you have in your schedule? Are you one of those families that have a habit of eating out frequently? You might need to save money because your income is not sufficient to meet daily household expenses. If you are facing such troubles, this article is surely a great help to you, as it will suggest to you some practical tips to save money on food.

According to research studies, the cost of eating out is four times more than that of eating at home. If you can eat a cocktail in combination with dinner, you can save even more money. If both you and your spouse work, you can take lunch with you to the office to save money. You can use restaurant coupons found in print ads, restaurant websites and through online services.

Now, here are some more practical tips to follow. First off, make a list of each and everything you need prior to leaving for the market. Benefit from food coupons available in newspapers and on the Internet. Leave kids at home as they can add to the items you will buy. Purchase those items first that are most necessary and avoid purchasing stuff that you had not planned to purchase. Purchase store brands if possible. Also purchase in bulk if your budget allows as you will likely receive discounts on bulk purchases. It is better to purchase meat at the end of the day.

While you are comparing prices on different items, ensure each item has the same amounts i.e. lbs or ozs. Subscribe to a wholesale club, such as Sam's or Costco. It can save you 30 to 40% on food; however, it will require you to purchase in bulk. Purchase and store lots of non-perishable or frozen items when they are offered to purchase.

Another tip to save money on groceries is to get more freezer storage, you might purchase 5.0 cu. Ft. Freezer Chest. It will hold 175 lbs of food and it will cost you only a few dollars each month on the electricity bill. These freezers are small and can fit anywhere in your home. Do not throw leftovers away; instead use them to make meals. Cook at home what you want to purchase from the market. You can purchase less-tender cuts of beef and use a crock-pot to cook them so as to enjoy a tender meal. Eat the food available in the refrigerator prior to its going bad. For non-perishable items, such as cans and pasta, make additional pantry space. Freeze and store items that you will take some days to eat and finally it is recommended to subscribe to a coupon-swapping club. Follow these tips to save moola on a consistent basis.

Asia and the History of Money

In recent years, many investors have looked to Asia for their financial investments. The growth in population and the expansion in business and industry of many countries in Asia have made it an attractive destination for investment. While most of the world was hit hard by the recent economic climate, Asian markets have remained relatively strong. Many Asian countries have very little deficits and have larger cash reserves than the US and the UK. Equally, many investors are looking to diversify where they invest their money - rather than simply investing within Europe they are looking further afield towards Asia. As countries such as India and China continue to expand they are challenging the economies of established 'super powers' such as the United States and are enticing ever more investors from around the world. What is interesting, however, is though countries in Asia are only now being considered future economic and financial powers, the roots of some of today's systems of currency and banking originated in Asia.

Some of the earliest origins of currency can be found in China. Cowrie shells were used as an early form of currency in China between 3000 to 45000 years ago. This was not anything particularly special as in many countries different items were used in trade - they could be anything from beads to livestock - in Japan rice was used as a form of currency. However, the Chinese cowrie shells can arguably be seen as a forerunner of coinage as representations of the shells began to be used instead of the shells themselves. These could be made of wood, bone and stone but were also made from metals, including lead and copper. Bronzed shells were also found in the Ruins of Yin.

The first proper coinage, however, is often attributed to the Lydians who were from Asia Minor. According to Herodotus the Lydians were the first to introduce the use of gold and silver coins - some people have disputed whether Herodotus meant that the Lydians were the first to introduce coins of gold and silver or precious metal coins in general. Either way, the usage of coins quickly spread soon after from Asia Minor to the rest of the world.

As well as coins, the origins of bank-notes can also be found within Asia. The first banknote was used in China in the 7th century Tang Dynasty. Before this the Chinese used circular coins with a hole in the middle that could be strung on a rope - inevitably the very rich soon found it difficult to carry around their strings of money. To remedy this they could leave their coins with someone they trusted, in return they would get a 'promissory note' that would indicate how much money they had given the person. Upon showing the note to the person they had left the money to they would be able to have it back.

It was a long process that developed the 'promissory note' into printed money. The need for something lighter and more easily transferable, along with a shortage of copper led to this development. By the 10th century the Song Dynasty government began to circulate notes and granted several shops the monopoly of issuing the notes. By the 11th century the government had taken over and begun to produce its own state issued currency using woodblock printing. The printing of this paper money did, however, end in inflation which led banknotes to fall into disuse. They were later 'reinvented' in the 17th century.

There has even been evidence to suggest that early cheques were used in the Mauryan period in India. These were called 'adesha' and was basically an order on a banker to pay the money specified on the note to a third person - much like a cheque as we see it today. Early banking even had its roots in the Asian continent with records of 'banks' of merchants in 2000 BC who would make grain loans to farmers and traders. Evidence has also been found that suggests that money lending was taking place in India and China around the same time as the lenders of Ancient Greece and Rome. With such a rich history of innovations in currency and finances, it is hardly surprising that Asia has become a choice destination for many investors in today's economic climate.

Is Money Your Problem?

From my experience money is THE number one cause of PROBLEMS in people's lives. That's right, over and above everything else in life because most of those other things are caused by not having money. For instance, people get divorced, have fights, can't pay their bills, lose their houses and go to court over not having enough money or not managing it correctly.

Why do we pay money for things?

Did you ever ask yourself that question? Why do we have to have money? Why do we have to put so much emphasis on money and why do we care?

Most of those questions you can answer for yourself, but I want to give you a different view on this whole thing, lets address this question.

Why pay money for things?

Because somebody, at some point in time wanted something that somebody else had. They had a cow and wanted some chickens; they traded one for the other and they got what they wanted. At some point somebody realized that they didn't always have a cow to trade with and wanted more. They developed a way of making nifty looking coins that someone said was worth something, then they invented the almighty dollar. Now I don't know about you, but a green piece of paper that has $100 on it, doesn't seem right to exchange for a DVD player or game system. How can that piece of paper be of the same value? Because somebody said so, that's how.

So now that I answered my version of this question, is your answer the same as it was before I addressed it?

The bottom line here is that we have to have money because somebody at some point wanted something and didn't have anything to exchange for it. Emphasis is placed so heavily on it because we need it for almost everything that we do. Since we don't have a farm anymore to make our own food, or cows grazing in the pasture, we're limited in our means and have to rely on the almighty buck to get us by.

Now that I put this into a different perspective for you, maybe you can realize the real value of money, which is just a means to exchange for something you want and not a big stupid problem that absorbs your life.

How to handle money problems

Wouldn't it be nice to be free of money problems and be able to do anything that you want to do? I thought so! Here are some helpful hints on how to handle your money, so that you don't have to ever worry about money again!

Are you ready? GREAT!!

1. Understand how much you make and spend.

2. Put together a plan on how to handle your debt.

3. STOP concentrating on money all the time and concentrate on production!

4. Produce, Produce, Produce

5. Make more money

6. Take a ride to the beach and look at a sunset

7. Relax

8. Smile

9. Enjoy life

Once you've purchased a house on home loan, you will then have several years to repay the amount, which will also include the interest charged on the home loan. One possible way of tackling high interest rates is switching to new lender that's offering better rates. This is known as balance transfer and it includes two aspects:

1. Processing fee

2. Prepayment Penalty

A new lender usually charges up to 50% as processing fee on the total loan amount to take over the loan. And your current bank will usually charge up to 2% on the outstanding loan amount as a prepayment penalty. Given these penalty charges is it worth switching lenders? While banks do offer a lower rate of interest to new customers as against existing ones, will it be beneficial given the twin slaps of prepayment penalty charged by your current bank and the processing fee charged by the new one? Let's find out with the help of an example:

Suppose you took a home loan at 8.5% interest in 2004 from Bank X. Since then the bank increased has the interest rate to 14%. However, another consumer applied to same bank (X) for a home loan and was offered one at an interest rate of 12%. You now have the option of switching to a new bank if you're offered a similarly low rate of interest by them. In a nutshell, it makes sense to switch to a new lender only if you're offered an interest rebate of at least 2%. However, there're a few more points that you need to keep in mind before trying to make the switch:

Approach Several Banks

Approach as many banks as possible and see which one offers you the lowest rate of interest and charges the lowest processing fee. Moreover, you'll need to inform your current bank about your decision to transfer the loan.

Negotiate

Your current bank will insist for a round of negotiations before allowing you to make the switch. This will be a good time to transfer let them know why you're discontent with their present terms and conditions. There's a chance that they may reduce your interest rates and you won't have to make the switch.

Transfer

However, if that doesn't happen your lender will offer you an NOC for switching to a new lender. The certificate will mention details like the total loan amount and the prepayment charge. Once you have received the NOC you can approach a new bank for a loan transfer. In order to successfully transfer the home loan to a new bank and please make sure to keep all original documents pertaining to loan transfer.

Personal finance refers to the financial decisions which an individual or a family unit is required to make in order to obtain, budget, save, and spend monetary resources over time, taking into account various financial risks and future life events.

In this article, we shall examine the basic rules of Personal Finance that will guide in making financial decisions.

Live Below Your Income

This is the most important rule of all. Any person desirous of achieving financial success must develop a culture of spending less than he earns. This can be achieved by working on either sides of income and expenditure. Either we work to increase our income or we work to reduce our expenses or both. As we work hard on either spending less or earning more, our disposable income will increase. In turn, the later will accelerate our ability to achieve our financial dreams.

Enhance Your Income

As noted above, it is important that we work hard at enhancing our income as a strategy for increasing our disposable income. As people who are working hard at achieving a financially stable life, we must have a clear strategy of improving our income in the short and the long term.

Above can be achieved through getting a better education, establishing streams of passive income, starting a side business, working hard at our current job and other related efforts. As we move from one stage in life to another, our financial obligations will increase. Therefore, it is important that we towards increasing our income in the same progression.

Live a Frugal Lifestyle

Like many other rules in Personal Finance, this rule derives from the rule of living below your income. Not that we really have much choice about living below our income but in credit driven economies, it is very easy for our personal finance to get out of control as a result of borrowings.

Living a frugal life does not mean living a miserable life. Instead, it means living within your means thereby ensuring that you are in control of your finances and not the creditors. It is a deliberate and conscious effort to live within your income with a view to creating an enabling environment for wealth accumulation. A frugal lifestyle enables us to go beyond immediate gratification to having the big picture in mind.

This habit urges us to save as much as possible without making ourselves miserable. It enables us to avoid regrettable expenditures by applying the ten seconds rule. This rule says that every time we want to make a purchase, we should spend ten seconds to ask ourselves if we really need what we are about to purchase. Very often, this simple rule will point us in the direction of spending less money.

Learning to Manage Money

Having gone through the above steps, it is very likely that you will begin to have an excess of income over expenditure. The savings so accumulated is your ticket to financial freedom. At this point, you must learn to channel the excess funds into profitable investments. Money begins to work for you and not against you. As this stage, you must also begin to know the difference between asset and liability. Invest more in assets and pay off your liabilities.

Be in Control

Personal Finance is not about being rich, it is about being free. Freedom from debt. Freedom from stress and worries. It's about being in control of your finances. And so, the final rule is be in control.

In conclusion, most people spend most of their lives earning money but rarely spend enough time planning the efficient use of same. This leads to a lot of financial regrets. The result is that at age 65, most people are flat broke.

It is therefore very important that we take the issue of Personal Finance very seriously. Our financial well-being is worth some time and effort. If we observe the above rules, it would lead to fuller and happier life.

The Rules Of Personal Finance

Personal finance refers to the financial decisions which an individual or a family unit is required to make in order to obtain, budget, save, and spend monetary resources over time, taking into account various financial risks and future life events.

In this article, we shall examine the basic rules of Personal Finance that will guide in making financial decisions.

Live Below Your Income

This is the most important rule of all. Any person desirous of achieving financial success must develop a culture of spending less than he earns. This can be achieved by working on either sides of income and expenditure. Either we work to increase our income or we work to reduce our expenses or both. As we work hard on either spending less or earning more, our disposable income will increase. In turn, the later will accelerate our ability to achieve our financial dreams.

Enhance Your Income

As noted above, it is important that we work hard at enhancing our income as a strategy for increasing our disposable income. As people who are working hard at achieving a financially stable life, we must have a clear strategy of improving our income in the short and the long term.

Above can be achieved through getting a better education, establishing streams of passive income, starting a side business, working hard at our current job and other related efforts. As we move from one stage in life to another, our financial obligations will increase. Therefore, it is important that we towards increasing our income in the same progression.

Live a Frugal Lifestyle

Like many other rules in Personal Finance, this rule derives from the rule of living below your income. Not that we really have much choice about living below our income but in credit driven economies, it is very easy for our personal finance to get out of control as a result of borrowings.

Living a frugal life does not mean living a miserable life. Instead, it means living within your means thereby ensuring that you are in control of your finances and not the creditors. It is a deliberate and conscious effort to live within your income with a view to creating an enabling environment for wealth accumulation. A frugal lifestyle enables us to go beyond immediate gratification to having the big picture in mind.

This habit urges us to save as much as possible without making ourselves miserable. It enables us to avoid regrettable expenditures by applying the ten seconds rule. This rule says that every time we want to make a purchase, we should spend ten seconds to ask ourselves if we really need what we are about to purchase. Very often, this simple rule will point us in the direction of spending less money.

Learning to Manage Money

Having gone through the above steps, it is very likely that you will begin to have an excess of income over expenditure. The savings so accumulated is your ticket to financial freedom. At this point, you must learn to channel the excess funds into profitable investments. Money begins to work for you and not against you. As this stage, you must also begin to know the difference between asset and liability. Invest more in assets and pay off your liabilities.

Be in Control

Personal Finance is not about being rich, it is about being free. Freedom from debt. Freedom from stress and worries. It's about being in control of your finances. And so, the final rule is be in control.

In conclusion, most people spend most of their lives earning money but rarely spend enough time planning the efficient use of same. This leads to a lot of financial regrets. The result is that at age 65, most people are flat broke.

It is therefore very important that we take the issue of Personal Finance very seriously. Our financial well-being is worth some time and effort. If we observe the above rules, it would lead to fuller and happier life.

Money is the root of all evil, the saying goes.

It seems to be no different in the repossession industry. I have been a recovery professional for almost ten years. Three years ago this month, I opened my own business because I was convinced that I could compete with a quality product in an industry where quality was hardly important any more.

This was the worst time in the history of our industry to open a shop. You will likely recall that loan volume was decreasing; banks were beginning to fail; 'forwarders' and franchisers had exploited the market and consolidated most of the existing providers.

BUT, I started anyway.

Without the risk of failure victory just isn't the same.

In developing a business plan, my major concern was to separate this company from the 'herd', offering a quality product with exceptional customer service. I believed I could achieve this through staff training and experience; associating with the best insurance providers; owning and offering the best, most modern equipment; and affiliating with the best and brightest associations and operators in the business. These things, I believed, would help me to rise to the top and ensure survival. I invested an extraordinary amount of time, research, analysis and money... convinced that this would differentiate our operation from the reality TV "repo rangers" and appeal to clients who understood the risks associated with employing sub-par agencies.

I couldn't have been more wrong...

It seems that, for most clients, the major concern when selecting a repossession professional is none of these things, it is my rate. Granted, it is a bit higher than the average recovery operator you might find in the 'phone' book. For some folks, this is a reason to shop on... Perhaps I can explain why this is a mistake.

As a business owner, I understand the need to protect the bottom line. I have made many efforts to reduce my costs. We run a very lean and efficient crew; we operate hybrid spotter cars to save fuel; we operate a paperless office, track marketing expenses, and constantly follow up with clients to learn how we can improve service. We also have a PhD economist on staff who works for free. But, we have not cut costs where we would expose ourselves or our clients to any of the risks involved in a recovery operation.

Remarkably, the small banks, credit unions, and BHPH dealers that we serve recognize the value of using a professional and appreciate our investment. Contracting with a professional is not a preference, it is a necessity. These folks cannot afford the risk associated with working with someone who is not fully insured and experienced in asset recovery. Defending a lawsuit would bankrupt them.

Risk mitigation is what we do.

Our clients understand that our quoted rate is much different from the ultimate cost of a repossession gone wrong.

Many large lenders have moved their collection operations to national forwarding companies. While consolidation makes sense at many levels, it rarely makes sense when lives are at risk.

But it seems "risk" does not concern some of the larger lenders. When there is news coverage, the story is almost always about a guy with a truck and a gun who tried to take a car. Professional association members rarely appear on the news explaining why they had to block a car in and draw firearms to effect the repossession. It just does not happen!

Incidents like these that show up in the press almost always the tell a story of the actions of individuals that have no place in the recovery industry. They are adrenalin junkies that have watched one too many TV shows. These are the agents that national forwarders and major lenders are hiring... sometimes to save money or out of ignorance.

How does this make sense? Why would a major lender choose to use an agent like this? There is only one answer, money.

My company and others like us have spared no expense to protect ourselves and our clientele. We have A+ insurance, a state of the art storage facility, the finest equipment, membership in one of the finest associations in the industry, TFA, which screens all applicants. We also have a $5,000,00.00 bond, protecting our clients and us. These are expenses that have a direct impact on the cost of doing business and the fees that we charge.

How can other operators afford insurance through a carrier that could sustain a wrongful repossession claim? Do they have a bond to protect clients against you employee theft or bad acts? In reality, they can't. These amateurs are able continue to operate and make a profit at these rates because they have chosen to omit a piece of the 'puzzle'. Without all of the pieces, someone suffers. So, where is the advantage in conducting business as a professional?

Honestly, I am having a hard time answering that question these days. Why should I have the best insurance? Why do I employ trained professionals? Why should I invest in a secure storage facility?

Sometimes I wonder if these are attributes have value any more.

Savings that large banks and forwarders realize come at the cost of the general public. The short-term benefit to their "pocketbook" implies a long-term cost to safety and well being. Many of these entities are the same banks that received Federal bail-out money; your money; and they are using sub-par recovery agents to generate even more revenue.

Try some simple math. Assume a lender contracts for 30,000 vehicle repossessions a year. If we charge $395.00 a repossession, but the lender can find a less qualified agent who will work for $275.00, the $120.00 difference over 30,000 repossessions works out to 3.6 million dollars. $3.6 million... I wonder what the other $120.00 would pay for. Are those few dollars worth the expense over the long run: personal injury, lawsuits for wrongful repossession, property damage, reputation damage, loss of life?

I cannot tell you how many times the first two questions I hear from a potential client are, "How much do you charge" and "How many days free storage do I get?"

These should be the last questions you ask.

I believe you should be asking:

1. Do you have wrongful repossession coverage? 2. Do you have a secure vehicle storage facility? 3. Do you employ felons? 4. Do you have bond coverage if I choose to remarket my vehicle at your location? 5. Can you produce a loss run report from your insurance carrier? 6. Are you a member of a trade association?

These are just a few of the many questions that can save your money AND reputation in the long run. A few extra dollars invested now can save millions later.

Getting The Best Refinance Deal

Now is the best time to think about refinancing your mortgage. The rates are currently at an all time low and our government is also working on new ways to help homeowners save even more money on their current mortgage plan. And while it is slow-going, our nation's economy, as well as the unemployment rate, is both showing signs of improvement which is always good news for the housing market and mortgage rates. However while this is always good news when it comes to the world of refinancing, being able to lock in a good deal can be very challenging for some homeowners.

The reason why this can be such a challenge for some individuals is because low home appraisals or strict lending standards can cause some issues when it comes to allowing some homeowners to refinance. Even if a person has great credit and assets to fall back on, they can still have a difficult time getting a mortgage refinanced since banks have been holding back on lending.

There is still good news to be had out there if you are a buyer or refinancer, you do have power when it comes to your mortgage. By making improvements to their current credit situation and learning more about all of the new government programs for homeowners that are available, they can greatly improve their chances of getting the refinance deal that they have hoped for.

These days one of the most promising details when it comes to refinancing is the low interest rates. The current average interest rate for a 30-year fixed rate mortgage is right at 3.84% is lower than the national average in March at 4.22% and is the lowest in 60 years seen by the housing market.

If you are a homeowner with an interest rate above 4.5% and have purchased your home before May 2009, you may be eligible to refinance with better terms. The recent drop in interest rates has caused there to be a stir in potential borrowers all over the nation. It has been said that over 20 million United States homeowners are currently paying a refinance rate of at least 5% or more while around 12 million homeowners are paying anywhere from 4% to 5%.

While these new rates mean relief for many homeowners, it isn't the case for everyone. There are many people who are unable to refinance because they currently owe more on their homes than the property is actually worth. However relief may be in sight for these individuals as many national banks are now required to refinance to certain borrowers who are in the same type of situation as a part of a $25 billion dollar settlement set forth by the government. This settlement is part of an investigation that is looking into questionable foreclosure practices in our country.

In order to qualify for this new government program, homeowners will need to be current with their mortgage and already have a loan through one of the five banks that is involved in this settlement program. These banks include Bank of America, Citigroup, J.P. Morgan Chase, Ally Financial and Wells Fargo.

Financially Surviving Divorce

In 1999 I took the Certified Divorce Financial Analyst (CDFA) course and now realize the full potential. Divorce is an extremely emotional time and I believe it is extremely important to have someone help you with the financial aspects of divorce.

There are four basic things that you will need to survive a divorce financially: a place to live, little or no debt, retirement assets, and liquid money. You should strive for a balance of each of these. You need a mix of each of these categories, not an abundance of one and none of the others.

A Place to Live: In 1997, the tax code changed relating to home ownership. A married couple is now able to exclude up to $500,000 of gains, and a single person is able to exclude up to $250,000 of gains on the sale of their home as long as you have lived in the home for two out of the last five years.

Depending on the divorce, it may be advantageous for one spouse to take the home, while in another situation it could be a disadvantage for the spouse to take the home. You should understand how your divorce settlement will affect you now, as well as in five, ten, fifteen and twenty years from now. A house is not a liquid asset and if you look historically at the stock market, a house may have less appreciation potential compared with money set aside for retirement. This is where it is very important to establish a financial plan.

Little or No Debt: You should understand what the cost of credit means. Because there is a high cost to having debt, you need to know the difference between good debt and bad debt. You should be careful when it comes to using credit to protect your assets and your future because we live in a negative savings society. Contact credit bureaus to get a copy of your credit report. If there are credit cards that have a zero balance, call and cancel those cards.

As part of a divorce, remember that the creditor wants the debt paid regardless of the situation. So, if your spouse takes a credit card with your name on it and does not pay that debt, the creditor will come after you.

Retirement Assets: When you are looking at retirement assets there are many different vehicles in which you can save money for retirement. Make sure that you do not forget some accounts and leave money on the table.

If you receive retirement assets from your spouse's 401(k) plan you may need a QDRO (Qualified Domestic Relations Order) to separate those assets. The QDRO is a legal document that is separate from your divorce decree. This legal document is sent to the benefits department of the 401(k) plan provider to instruct them how the assets should be divided. Make sure the QDRO is written correctly BEFORE the divorce is final to ensure that you receive your retirement assets.

Some benefit plans cannot be divided. In this case, you want to look at other assets of marriage and receive those instead. For example, if a pension cannot be divided, take more of the 401(k) assets of the other spouse.

If you receive retirement assets from your spouse's IRA, you will need a copy of your divorce decree and a few other financial forms to separate those assets. With the 401(k) and IRA, you should change the account into your name and roll the assets into another IRA account. This process is known as a "direct rollover." This is another area where it is important to have a financial plan in place so you can realize the foundation you are setting for your financial future.

Liquid Money: There are three different general phases of the divorce process: The beginning of the divorce, the middle of the divorce, and after the divorce. In each of these states, your budget may be different, so you should make sure that you have liquid money available at all times.

In the beginning, you will need liquid money for the retainer to hire an attorney. You should consider putting this liquid money in a money market account rather than a savings or checking account. This is a vehicle where you are able to earn more interest on your money.

Make sure you understand what a money market account is and what it can do for you. Make sure you understand the difference between assets, regardless of whether you are single, married, or divorced. Gather as much information as you can about your financial situation. Know where your money is. Find out as much information as you can on your own. It is always a good idea to have copies of statements and to start listing all of your assets and liabilities.

People might wonder why there is a huge requirement for corporate finance graduates and there are numerous reasons for it. Any corporation will have a lot of financial issues and it has to be managed by an expert in corporate finance as the firm will have to manage the capital, improve on their assets and work on what to invest and what to eliminate.

The role of corporate finance graduates will be to assist the corporation in making the right decisions so that the organisation ends up with a maximized profit for the investments being made. Having said this universities and colleges in the United States and Canada are aimed at providing real life situations for students and the cases are thoroughly studied for the students to develop knowledge in this subject.

Analysing a practical situation of a company and trying to provide a solution for it during a course in this subject enables the student to make appropriate decisions when they work for a corporation. There will be constant assignments for students to get the maximum exposure related to the real life situations and these assignments will also test their understanding of the concepts being taught in college.

There are also services like corporate finance homework help which will assist students with difficulty in understanding the concepts and assignments in it. Services like this will be extremely beneficial for students to understand the whole purpose behind an assignment.

The decision made by subject analysts will have a great role in the performance of the company and it also affects the profit of a firm. Hence, every decision made by the finance analysts will require a thorough study of the situation and lot of analysis goes into the process of decision making.

The finances of the company and its operations are pretty much related to one another and hence any decision made as far as the capital, investments, finance will directly affect the company's growth. Hence this is one of the major reasons why companies are very strict in hiring a specialist in corporate finance to make all the decisions on behalf of the company.

It has got a lot of scope in the company sector and students studying the course must focus upon solving the assignments carefully as it involves practical exposure to the problems in a company.

The assignment also helps the students in laying a basic foundation strongly so that they do not struggle with the difficult concepts in corporate finance

How To Follow A Rewarding Career In Accountancy

In any type of business, an accountant is important. You have got to bear in mind that accountancy is generally the language of business and possessing sufficient knowledge of accountancy is necessary for business men and women to know how their business is doing. That is why accountant services are pretty much in demand in today's market. And, lots of certified accountants have become very successful in their industry and some have in fact started their own business.

The fantastic point about this profession is the fact that it'll allow you to interact with all levels of business enterprise and you'll also learn a good deal from it.

So, what exactly does it take to become an accountant and follow this unique profession?

To start with, you need to know about the qualifications to become a qualified accountant.

You need to be a college graduate in a four year bachelor's degree in accounting or any similar discipline. Aside from this, an accountant ought to be in a position to have very good diagnostic and proficient knowledge of financial processes. Great mathematical abilities is another skill that is required for Ltd company accountants. And, since computers are now one of the most used resources in commerce, you need to also possess practical knowledge plus the proficiency to handle a computer system.

An additional requirement is that you'll need a bachelor's degree plus a minor in an additional subject. This ought to be taken at an approved university or college to help you to go for Masters in accounting.

You may likewise pursue this career where you had your classes in accounting over online education programs.

A good number of companies also require that you should complete a range of semester hours together with work hours, which are considered as part of a 4-year bachelors degree program. If you turn into a public accountant, you should be employed as a trainee. You will usually begin your career as a junior internal auditor or as cost accountant.

It is always advisable that you should possess a master's degree in business administration or similar field due to the fact it can be favoured by more corporations that are in need of accountants as a necessary part of their employees.

The great thing about choosing accountancy as a career is that it presents a lot of employment opportunities. For example, you can find a job as an auditor or accountant in state offices or in commercial firms even when you are not 100 percent qualified.

You can also find employment in a legal firm. It is possible to work as an auditor, a financing officer, a budget analyst, a management accountant, and in some cases as a tax accountant. Most companies that are in need of accountants are likely to favor accountants with legal knowledge.

Forensic accounting is another probable profession for an accountant. Here, you will investigate crimes, like fraud in company's accounts.

If you have a knack for tutoring, you can teach a topic affiliated to accountancy in college or university. This can be a good career selection and lots of accountants believe that this kind of job is quite enjoyable.

Just bear in mind that in this profession, you may have to start from the ground level. If you are just beginning your professional career as an accountant, aim to start from the lowest level then work your way up to the career path which you wish to take.

Accountancy profession is a truly promising profession that presents loads of wonderful options. You can be certain that you are going to discover the right job if you decide on this particular path for a profession.

A Good Time To Finance Your Purchases

An elderly client of mine recently met me and casually spoke about wanting to buy a car, so I asked him what he planned to buy and how. He said he was looking at something in the $40,000 range and wanted to pay for it from his savings because he just did not believe in debt. And while I understood where he was coming from and the generation he represented, I just knew that I had to talk him out of the idea of plunking down $40,000 cash when debt was so cheap and abundant.

So, I pulled out my iPad and ran a few numbers for him even though I knew the math and the answer in my head. I knew that the smart thing to do in these low interest rate times was to finance... not buy all at once. It's an idea in this debt averse times that needs to be addressed.

I ran a few numbers and showed him how most of his liquid assets were tied up in retirement accounts and nicely invested, and from which pulling out $40K would incur a harsh income tax bite. So it was best to let go of the idea of taking it out of his IRA and look for other sources of cash. He said he could take the $40K out of the roughly $44K he had sitting around in the bank, but that brought on some other issues.

Fundamentally, I wanted him to have enough cash on hand to tide him over a rainy day... and while $44K was way more than he needed to keep liquid, leaving $4K that would remain after he spent $40K on a car would be way too little given his health, family obligations, etc. I showed him how he could get low-cost financing with rates as low as 2.5% at certain institutions which would result in very manageable monthly interest payments. I also told him to not just go straight to his major commercial bank but to use auto loan calculators freely available at sites such as bankrate.com to do a little research before buying.

I also cautioned him against going in for too short a financing period because at such low interest rates, he'd be better off picking at least a 48-month payment plan. I told him he could make a down-payment of $10,000 because I knew he was concerned about taking on too much debt, and could finance the rest. He could then invest some of his capital to earn more than the 2.5% he was paying on the car. Rates are low, but it's not that hard to beat a 2.5% rate and you don't have to take a lot of risk to do so. In cases like this it is usually better to use other people's money if you use common sense.

I also suggested consider buying a used car with low miles directly from a dealer or other legitimate source so he'd have the peace of mind of buying a certified pre-owned car that had a clean title.

A few other tips I gave him... which apply to just about any big-ticket item you want to buy...

Get on the Internet and look at prices on sites like Kelly Blue Book and at other sellers of the product you want to buy.

Use handy on-line calculators to figure out things like monthly payments and fees.

Do not reveal your monthly payment capacity to the seller because they will find ways to hook you up with an expensive purchase that still meets your monthly payment capacity... instead, focus on price first even though the seller will keep pushing you for a monthly payment amount.

Do not get sold into buying more than your budget... see, you could well buy a $50,000 car for just a slightly higher monthly payment but remember, at the end of the day, you're putting your hard earned cash into something that depreciates in value the instant you buy it... it just does not make sense to throw money into depreciating assets especially when you have bigger things to worry about such as home loans, college expenses and so on.

Remember, you can either raise the bridge... or lower the water... Raising the bridge is about earning more to afford an expanded lifestyle, perhaps a dubious choice just to own a fancy car -or lower the water - voluntarily cutting back on your expenses to fit your income.

At the same time, if you have money, be smart about weighing your options and consider using loans in this low-interest rate environment so you can invest your cash somewhere else and have it deliver more than the interest rate you'd pay on your loans. So, be smart about how you manage your finances and keep all your options on the table.

Financial Planning For A Better Tomorrow

People who strive hard will certainly receive rewards. Without a doubt, everyone can reach their goals if they are determined, responsible, and intelligent. If you really want to reach your goal to achieve success, then you should know how to deal with the challenges in life. In business, you need to understand the purpose of what you are managing. You need to be familiar with the possible pros and cons of a certain undertaking that you intend to engage in. Dealing with monetary issues is a crucial task. In order to succeed, you need to have an effective financial planning. It is necessary to take the right steps so that you will not slip into the financial hellhole.

If you think that you are not expert enough when it comes to budgeting, securing your earnings, and to increasing your profits then the best thing that you should do is to hire a professional and trustworthy fiscal advisor. Certainly, no one wants to lose their valuable assets. It is important for you to know how to properly manage your wealth so that you and your family will have a brighter tomorrow. We all want to have a prosperous life; hence, we need to seek a solution that could deliver beneficial outcomes concerning financial matters.

Indeed, we are the ones who decide for our future. Although we cannot predict what will happen in the following years, we still have ways on how to be prepared for it. In terms of economic issues, you must look for ways on how to avoid the possible dilemmas that we might encounter. In case of emergencies, you will easily have something to use if you have a contingency plan. Nothing can stop you from achieving your business goals as long as you know how to manage financial issues.

It will be easy for you to increase your business' sales and profits if you have done the right monetary planning. You should practice doing a systematic approach in any tasks that you are going to do so that you will obtain a surefire and successful outcome.

By consulting an experience and committed financial planner, there's a guarantee regarding your fiscal planning. Having a good comprehension pertaining to proper wealth management will certainly place your earnings in a safe place. What's more? Another benefit that you can have is that you will be able to learn how to invest wisely.

While it may seem incredibly appealing to pack up everything and head for a place in the sun when you retire, going through the whole process requires a fair bit more work than most people realise. Life as an expat can be a relaxing way to spend your time after all those years working and by making sure you've got a few things covered, you know there'll be no problems. Your first steps should be organising everything in your soon-to-be old home, so don't be afraid about getting in touch with people who can help.

Be prepared for some huge changes

A major decision involves your old home; what are you going to do with it? Some people may choose to sell while others decide that rental is a good idea, as it provides a regular income that you should be able to depend on - but what if something goes wrong? You'll need to organise someone responsible to look after it on your behalf who can deal with repairs and ensure that your tenants pay their rent on time, so choose wisely.

Depending on where you're moving to, it could be a good idea to get some lessons in your new home's language. Sure, you'll find that a lot of expats think that English is enough but if you're thinking about integrating into society there's no better way to do so than being able to speak like the locals do. Don't worry if you make the odd mistake; people will be happy that you're making the effort to fit in and may even offer to help you improve your skills.

Call a wealth management advisor as soon as you can

You'll find that you're making a lot of huge choices in a short space of time, so be sure to enlist the help of professionals who can help you take a lot of the pressure off. Your finances will be up in the air, so speaking to wealth management advisors is a great idea. They'll be able to talk to you about everything from how your pension will be affected to letting you know what kinds of insurance you'll need, as well as tell you what you should be budgeting for during and after your big move.

When you're looking for an advisor, make sure that your chosen specialist is experienced in global wealth management. That way you'll know that they're skilled in helping clients who are located all around the world, rather than just in the UK, and have contacts in many countries who can help out with any issues that could arise. Ask plenty of questions and be prepared for absolutely anything, but above all enjoy your new life in the sun.

A Financial Advisor Can Secure Your Dreams

Ever since kindergarten, we have already been taught to dream big. We would take out our crayons and draw our future houses with a family, a car, and a pet dog named Rosie. Sometimes, we would even play dress up in the international costume of the places we want to visit in the future. As adults, we come to a realisation that in order to get hold of these, we need to work hard for it. Working hard and managing money to meet these goals, however, can get tricky at some point. This is why having a financial advisor can be beneficial in securing finances, and in turn, getting to our dreams. Here are a few tips in finding the right one for you.

Find someone you can trust. Be careful because it is easy for any person to say they are financial planners. Stick with the professionals with designations and educational backgrounds recognised by the state. It is safer to get references from friends and relatives to have an overview of the planner's capabilities. Also, check their certificates and do research whether their qualifications are legitimate. Hiring someone without checking his or her credentials is risky. They may not know what they are doing and put your money in the wrong investments that can deplete your savings or bury you with high fees. You do not want to entrust your future in the wrong hands.

The next thing to consider is what kind of financial advisor suits you according to your needs. Not all of them offer comprehensive advice from taxes to loans. There are types of planners that only focus on estate planning or on retirement. Find out which area of your finances you need help on and what you expect from the advisor. Also beware of those who are actually insurance salesmen tied to companies that offer advice just to benefit their businesses and increase sales.

When it comes to compensation, financial planners can be paid in three ways- flat fees, commission, or assets. Payment through flat fees is where you pay per visit or per hour. In commission, every time you purchase investments, a part of the total amount you pay will be deducted and that portion goes to your advisor. A fee based on assets are where planners charge you annually based on a percentage of profit you gained from the investment advice they have provided. Talk to your planner about this before sealing the deal.