Category Archives: Finance

The Never Ending Greed

The U.S finance sector is soon turning into a giant sea, where many big fishes are desperately trying to swim their ways to the top. This sudden spurt in its growth can be accounted to the insatiable appetite of this financial stratum. The never ending greed of the financial sector in U.S had caused the financial system to crumple in year 2008. This greed seems to be going on and on:

Based on recent case studies:

> According to a renowned U.S Journal, even after being banned by the legislation, from using certain illegal practices, the credit card companies are paying no heed. They are going on devising ways to dupe the customers.
> Various big names in the finance sector are going to avoid or much rather do away with the financial reform bill recently issued by Washington. This news has created quite a stir in the financial sector.
> The Volcker Plan has levied restrictions upon banks to make tentative investment unless it is on behalf of the customer. A number of finance hubs have figured out a way to come clean of this rule.
> The New York Attorney General is accused of carrying out a false investigation about the insurance companies extracting profits, from the benefits belonging to families of their loved ones who have been killed in the Afghan Wars. This report has been flashed on many news channels.

The years of labor taken in coming up with these convenient monetary policies has given birth to this insatiable financial sector, which is expanding day by day. It is gradually turning into a monster whose hunger knows no end.

How To Get Approved For Bad Credit Motorcycle Financing

For motorcycle buyers with bad credit it can seem impossible to get approved for a loan. Many lenders view motorcycles as a luxury purchase and as a result make it much more difficult to get approved for a bike, then a standard car loan. But as a motorcycle buyer with past credit problems, you shouldn’t let what seems to be an impossible situation destroy your freedom of the open road.

Time and time again motorcycle buyers with poor credit histories make the same mistakes when trying to get approved for a loan. This article provides tips for finding a loan even if you have a bad credit history with a bankruptcy.

1. Don’t Rely On Dealership Financing Only

Yes it is true that motorcycle dealerships have a variety of financing sources to offer you. But those financing sources are nowhere near the number of available lenders nationally. Most motorcycle buyers with bad credit head to the dealership submit an application, and after getting declined assume it is impossible to get approved. This is the wrong approach.

The fact is a dealership normally only submits your application to the lenders that have specifically setup a relationship with the dealership. There are many other lenders that have never approached the dealership that most motorcycle buyers completely ignore. This includes credit unions, local banks, and many specialized lenders that focus strictly on bad credit applicants.

2. Don’t Give Up Too Soon

Most motorcycle buyers give up way too soon after getting declined for a loan. Sure you might feel a sense of rejection, but don’t let declines deter you. With a self defeating attitude you’ll never be successful with getting approved with bad credit.

A more wise method might be to approach the whole motorcycle financing process like a game. Just because one lender turns you down, doesn’t mean you give up trying to win the game, you keep seeking out other lenders. Don’t give up until you are successful!

3. Focus on Lenders That Specialize In Bad Credit

In every market there are lenders available that focus on poor credit applicants. It is important that you do your research and seek out these lenders.

For motorcycle and ATVs there are a variety of lenders that offer bad credit motorcycle financing. But without the motivation to seek out these lenders, you’ll end up never finding a loan like many motorcycle buyers with poor credit.

4. Show Lenders A Down Payment

If you have bad credit, many lenders like to see you have some “skin in the game” before giving you a loan. Most cycle buyers completely ignore this fact.

Showing a lender that you can put a little money down, implies to the lender you are serious about your purchase. Even if you can only put down $500 as a down payment, this can help the lender view your loan differently.

Obviously the more money you can afford to put as a down payment the better chances you have of getting approved. Many times showing a small down payment can make a huge difference. So when you fill out your application make sure you don’t leave the down payment section as zero. Always try to show a little even if it is $300.

5. Don’t Skimp on Insurance

By nature insurance protects the bank or lender in the event of theft, or a collision. Many motorcycle lenders might tell you full coverage insurance is not required. But if you have a poor credit history, showing the lender you will cover your motorcycle with full coverage insurance can make an impact.

Personal Finance Guide

Financial planning is about the thinking and the planning of what you want to do in your life, such as buying a house or a car, getting married, planning your children education. It also determines your financial capability to face any unforeseen circumstances in the future. It is an important process for people who want to have healthy financial life. Unfortunately, many people, especially those in young age don’t realize the important of financial planning. It never too late to start the planning, but you should start it as early as possible so that you have sufficient times to plan and to shape your financial future that in-line with your financial goals.

Don’t think that financial planning is a hassle process. Instead, think it as a need for our living process. If you have a good personal plan, you will be more prepared and informed about your future needs. With a proper planning process, you know the resources you currently have and what resources you should have in the future in order to achieve the goals you set in your plan. Regardless of many advantages in having financial planning, you will benefit from at least 4 benefits of them:

Benefit #1: Control of Your Financial Affairs

In financial planning, you will look at how you will be budgeting and spending your money over time, saving and investing to achieve your financial goals. Therefore, by knowing how and where your money goes, you will have a better control on your financial affairs and be able to avoid excessive spending that can lead unmanageable debt problem.

Benefit #2: Better personal relationships

Most often, debt problem causes relationship tension between you and people you know because they may get away from you as they afraid you will be borrowing money from them. If you have a good financial plan that makes you live happily without the need of borrowing money to make ends meet or expecting handouts from others. Indirectly, you with have better personal relationships with people around you, such as your family, colleagues and friends.

Benefit #3: Protecting your financial resources

By planning your financial effectively and control how your money goes with a good budget plan, you will have a sense of freedom from financial worries because you have planned for the future and be more prepared to face any unforeseen incident that may happen throughout your lifetime. Therefore, you will be more effective in obtaining, using and protecting your financial resources to ensure a healthy lifestyle through your entire lifetime.

Benefit #4: Plan for your retirement on time

How much money do you need to save for your retirement? Without the financial planning, you will never be able to get the figure. Nowadays, many people need to continue working to earn their living, just because they don’t have a financial plan that enables them to retire when they reach their retirement age. If you plan to retire on time and financially healthy at the time of retirement, then you should start it as earlier as possible. In fact, financially healthy life is all about starting on time. The sooner you set it up and start saving for your retirement, the better off you will be in term of the sum of money invested.

Summary

Financial planning is not just a need, but a must-to-have for people who hope for financially healthy lifestyle throughout their lifetime. You need financial planning and it must be started as soon as possible to ensure you have sufficient times and the sum of money invested to achieve financial independent over time.

Accounts Receivable Financing

If you are a small business owner you will know exactly the struggles of obtaining capital to fund and grow your business that businesses are facing today. With banks limiting lines of credit and loans more businesses are turning to accounts receivable financing. In this article I will try to help you determine if accounts receivable financing, also called factoring, is right for you.

What Exactly Is Accounts Receivable Financing?
Accounts receivable financing is when outstanding invoices or accounts receivables are sold to a finance company. This provides instant cash flow for the business and the risk of collecting the outstanding receivable is transferred to the finance or factoring company. The finance company will pay a discounted amount for the receivables based on the age of the receivables. Accounts that are past due or over 90 days old are typically not accepted by the finance company.

Advantages:
There are three main advantages for companies that sell their receivables to a financing company.

The first advantage is that the collection of the debt is no longer the responsibility of the company. This frees up the company’s resources to focus on other more productive activities. The company also receives a set amount of funds and long longer has to make contingency plans for cash if customer’s fail to pay their debts.

The second advantage for a company is the ability to free up working capital. Assets that are typically tied up in inventory and accounts receivables can be turned into cash more quickly enabling the company to use funds to help grow the business.

The third advantage is that it provides and quick form of financing. You do not need to gather up tax returns and write up a business plan like you may be required to do in order to get a loan.

Disadvantages:
While there are many advantages for a company that factors its accounts receivables, there are also potential drawbacks that a business should take into account when deciding if factoring is the right choice. The discount fee and other charges incurred may seem high at first but over time these costs may be lower than interest incurrent on a bank loan. You should always shop around to make sure you are paying the lowest possible fees and weigh the costs against the interest a bank would charge you on a loan.

Is Accounts Receivable Funding Right for my Company?
This is a choice obviously only you can make. There are some things to think about before making your decision. Is the money needed immediately for the company to survive or to take advantage of a business opportunity? Is your company ready or have a need for more money and expansion? Have you explored all sources of funding available to a small business?

Home Based Business Financing

Well, the good news is there are several resources available to finance your home based business. You’ll have to do some research to find what’s available in your area, but this guide will show you several areas to begin looking to get the financing you need for your home based business.

The Small Business Administration (SBA) is an excellent place to turn to for home based business financing. It doesn’t make grants that your home based business won’t have to pay back, nor does it make direct loans to small and home based businesses. Instead, the SBA guarantees loans given by private lenders. This reduces the risk associated with new business ventures and makes it easier to get lenders for your home based business. However, to get a SBA loan, your home based business must be a profit making one, and you will have to guarantee your loan personally. This means putting your personal assets at risk. Also, to be eligible for an SBA assistance and/or loan, your home based business has to be in the United States, and there’s other criteria that must be met. Still, if you’re looking for financial assistance to start your home based business, the SBA is a good place to start.

Private grants are another type of financing you can look into for your home based business. There are many different types of grants, and there could likely be one for your home based business. The Internet is a great place to do your research. The grant process can take awhile, so if you decide this is the route you want to go for financing your home business, and your home based business meets the criteria of a grant, you will want to get started with the grant writing process as soon as possible. Also, you may need to hire a grant writer to help you. Grant requirements are strenuous, and there’s a great deal of competition for small and home based business grants. It’s well worth the time and effort to research grants, though, to try to get a grant for your home based business because the money given does not have to be paid back.

Another type of home based business financing is through what’s called angel investors. These are investors who are willing to lend money to fledgling small and home based businesses, generally because they know a good thing when they see it and are willing to take some risks. Angel investors for home based businesses may not be that easy to find, but with some networking in your area, you’ll be able to locate several. Joining your local Chamber of Commerce is a good way to find angel investors. Also, talk to accountants who may be able to bring together several investors for your home based business. This happens a lot more often than you might think because investing in a small or home based business can provide a good tax break for many people. And then there are just some good souls out there who want to help others start home based businesses because they’ve been there themselves and managed to create successful home based businesses of their own.

One final note. The only investors to be wary of for your home based business are those you might find in your own family. It just simply isn’t a good idea to borrow money for your home based business, or for anything else for that matter, from family members. There are just too many things that can go wrong in a financial obligation like this. A family member you borrow money from to start your home based business may pressure you to run the business their way, or worse, your home based business could go under and have to declare bankruptcy. It’s horrible to lose any investor’s money, but when it’s Uncle David’s, it’s much worse. So only borrow money for your home based business from family members as a last resort, and only if you’re certain you have a sure thing.

First Time Buyer Car Finance Guide

Possessing a car is very important and necessary in today’s fast paced and demanding schedules. For college students especially it is very useful and saves money too. It is also a fact that not all would have the necessary finance or credit score for getting one. Getting low interest rate car loans especially for first time buyers is very important as this would mean savings and lesser risks. This is possible and easy and fast too.

Specialist companies offer auto finance to suite all needs and profile. They have options that make car buying easy and smooth and help with the right auto loans. They can help right from selection to finance. For first time buyers it is all the more significant to ensure a sound deal and not get caught up with a wrong choice as they would not have much finance and other security to fall back on. A bad initial decision could also mean a bad start to the financial health. Car buying is exhilarating especially for the first time owners. It is a financial decision hence one needs to explore all the options and understand all the nuances of sound decision making so that the ownership is enjoyable and not burdensome. This article aims provide some financing tips to first time buyers and obtaining lowest interest used car loan rates.

Auto finance options for first time buyers:

When one is looking to procure their first cars there are various queries and questions. One has to weigh so many options for getting the vehicle. The first is that the need is genuine and having a car would be of aid. The need is justified but the type of vehicle and the finance options would have to be based on many other things. Lowest no credit car loan rates will have to be obtained so that if the car is financed with a loan the repayment is possible and affordable. The individual has to decide whether to go in for a new car or a used car. They have to examine the various options to get the loan. They have to understand if there are special finance options or special incentives and schemes for their specific category and profile. All this is greatly eased once they are able to tie up with a reputed and established company that can help them explore all the options and choose the best for their need. It is safer to take professional help rather than venture and burn fingers. It is possible to do it directly too but the market is very competitive and customized services are also available in finance market so it is only prudent to utilize the same. However some basics could help in making the search more effective. Low interest auto loan greatly brings down the total cost of purchase.

  • Explore major car manufacturers as one can look to get best deals from them. They may be able to offer competitive rates and incentives and great deals. Some manufacturers can also give good offers. Big manufacturers and major brands may have promotional offers and schemes for first time buyers. The finance may be obtained at very competitive rates.
  • Check with financial institutions. This is a good way to finance a car for first time buyers. If the buyer is already having an existing account with the bank or the lender. They may not have special first time buyer offers but they may consider the existing account and based upon that offer a low interest rate car loan that could also have automatic payment withdrawal.
  • This is easier said than done and may not be the best way still. This is if the car can be purchased by cash totally. If the individual is saving sufficiently over a period of time and has the required fund than this is a great way to purchase the first car. One can look at the money they could save in interest payment. However one needs to prioritize and work out the need for fund and then use the same.
  • One should take account of the credit score. Even if one has not obtained major loans etc. they should consider the score that they may have accumulated with credit card or bill payment. This will help one ensure that they get approved for low interest car loan rates possible as per their profile and there is no need to accept higher rates. A steady job and some credit is good enough to get a fairly good deal even if one is a first time auto buyer.
  • Down payment is another major factor that could change the profile and rates of the loan. If about 20% can be paid down then the chances of obtaining lowest car loan rates improve tremendously.

Finance Guide Basics

Every one or rather almost every one in this world would definitely want to have his or her future secured. Thus, every person who earns even a bit would like to save some of the money and this is where the topic of personal financial management comes into picture. Whatever be your purpose of saving money, it needs to be regulated and updated.

Investment in stock markets is one option for the same. With the advancement in technology and thereby, in means of communication (for instance, the internet), the behavioural pattern of the stock markets can be known within an instant of time. Moreover, as the presence of the stock markets being in every country, one can see the maximum numbers of investments all over the world are made here.

Another option where you can regulate your finances is by buying stocks. It is argued that although they are the diciest and most fickle instruments for investments, they can bring tremendous returns in the long run and can even leave you resistant to the rate of inflation. By owning a particular amount of stock, one is deemed to be the owner of a certain value of a company i.e. the more stock is owned by you the more faction of the company is in your hands. The prices of the stock ca change in accordance with all the factors affecting the stock markets for instance, economic, cultural and business trends.

Often it is seen that we tend to leave the saving for college and retirement till the last minute and then certain unwilling consequences have to be borne. College planning resembles retirement planning. There are bound to be questions in one’s mind like how much one should save for such kind of expenses etc. it is recommended that where the planning for retirement should start in one’s early twenties, the planning for college should start right from the birth of the child. It is agreed by many that early planning and savings can be of huge benefits in the long run. Planning for the college will include looking for various colleges for alternatives, tuition fees and any extra expenditure that might occur at the time for sending a child to the college. Starting all this early enough will provide adequate time to the parents to look for availing loan facilities and decide their strategy accordingly. Retirement, which is inevitable, has to be planned on the similar lines as that of the college planning. Starting early and being realistic are the keys for such kind of planning. Starting early means to start soon after one has completed his or her graduation. By being realistic it is intended to convey that one has to save according to one’s requirement of the kind of life proposed to be lived after the retirement. This is to say that one has to focus on the facts basically, for instance, if one plans to live like a king with housemaids serving all the time and a castle like house then one has to save much more than a person who chooses to live a modest life with a simple house and an off-hand vacation.

Speed Boat Financing Guide

Keeping a speed boat was once restricted to those who were able to pay cash and as this sort of watercraft can be very high-priced and very few lending companies offer craft funding terms, only a few can really afford it. But as finance companies determined that most customers are good customers for loans, they added craft loans with their existing real estate and auto loans. Some even specialize on boat loans alone, dedicating their staff and funding for this purpose so finding a financing service is simple.

Talk with your bank initially to determine if they provide boat loans and if they do, inquire about the rates and the loan term but if they do not, call other banks or check the websites of various banks nationally and locally. Banks are invariably respectable lenders as they’ve secure backing and loan approval is also quick as long as you have a good credit standing. You can also look into financial services companies which are often associated to local, regional and national lenders. Their advertisements can be observed in assorted publications, and web sites committed to boating. If you are a member of a union, discover if it offers boat loans as credit unions supply the most appealing rates among the 3 sources brought up here. Union members can easily get authorized, so get hold of them and inquire about a competitive loan.

Various lenders use unique terms for the kinds of loans they put up but mostly, they’re just akin to real estate loans.

Fixed period simple interest loan (or a fixed rate loan) is the least complicated, most popular and mostly considered as most convenient loan as it holds the same monthly repayment during the entire loan term. The good thing about this is that you are able to budget your monetary resources and allocate a precise sum of money for the loan because you are aware just how much you will pay monthly.

Flexible rate loans base your monthly payment on different rate of interest indexes whereas a variable rate loan is often put up as a fixed rate loan (with a low starting rate) for a definite time period before it bases the rate in distinct variables. While you are unable to predict your monthly payment, you can gain from this sort of loan if the values suddenly get lower in the future. But since it is more complicated, you have to comprehend first how this works in order to assess if it’s really for you. Ask your lender the whole thing about an adaptable rate loan before accepting it.

Balloon repayment loan allows the borrowers pay the balance of the loan at a particular time. It is sometimes a preferred type of loan to borrowers, who acknowledge they will possess the boat for a distinct time period.

Irrespective of what lender you choose, you are guaranteed to pay a low deposit – from as little as 0 to 20 percent of the whole sum of the boat (the rate of down payment is based on the age, cost and sort of the boat). Some lenders even have zero-down offers on new boats. Since the loan runs for various years, repayment is easier, and if you are extended longer funding conditions, monthly repayments are further reduced.

Last, by going for financing, you can get bigger, newer, more costly, more powerful and better boat than what you have wished for.

The Secrets of Good Financial Planning Revealed

Having a good personal finance guide is very necessary in relation to the financial industry as we know it today. There are numerous online guides, books and YouTube videos to help consumers cope with the current economic instability. Below are some helpful tips to guide you to a healthier financial situation.

First, a well planned budget is the beginning of any financial plan. You need something to help your consumerism and personal finances stay on track to reach your financial goals. A budget will outline expenses, payments and ideally include savings and your plan to pay back lending facilities you are obligated to.

Second, your budget will help you cut back on unnecessary expenses which is the next step to sound financial management. This might mean eating out less and for others it could mean getting rid of that extra motor vehicle. Whatever the case may be, everyone has an area or two where money can be saved by reducing some basic expenses.

Third, keep a savings account where you pay yourself first. You want to ideally start with saving 10% of everything you earn. If you can’t do that right now it is best to start the habit of putting something aside each time money comes in, even if it is just $1.

Fourth, cut up your store cards. The interest is too high and encourages unnecessary consumerism. Consolidate your credit card interest to just two credit cards if you must. Keep one for usual use and the other one clear for emergencies.

Personal Finance Guide

Having a good personal finance guide is very necessary in connection with the financial sector as we know it today. There are many online guides, books and videos on YouTube to help consumers address the current economic instability. Here are some useful tips to guide you a healthy financial situation.

First, a well-planned budget is the beginning of any financial plan. You need something to help consumption and personal finances stay on track to reach your financial goals. A budget outlining expenditures, payments and ideally would include savings and loan plan to return the facilities that are required a.

Second, your budget will help cut unnecessary costs is the next step to good financial management. This may mean eating less and for others it could mean getting rid of that extra motor vehicle. Whatever the case, everyone has an area or two where you can save money by reducing some expenses.

Thirdly, maintaining a savings account where they pay themselves first. Want to start saving where possible, with 10% of everything you earn. If you can not do that at this point what is best to start the habit of putting something aside each time the money arrives, even if only $ 1.

Fourth, cut up store cards. The interest is very high and encourages unnecessary consumerism. Consolidate your credit card interest only two credit cards if necessary. Keep one for regular use and the other a clear case of emergency.

Being efficient and rich will require the use of personal finance services and professional help to manage their finances effectively at some stage in their life. Managing your savings and investment plans, debt management, taxes and money are part of financial management can be overwhelming. There are moments when using the services rather than managing their finances on their own is a wise idea.

There are situations where people are dealing with mountain of debt and financial problems that could not be cured in the course of spending cuts and additional jobs, but require the use of a service or agency to help manage what you have. These scenarios such as divorce, a prolonged period of unemployment, medical bills unexpectedly large, mortgage companies are threatening to seize your house, etc. require the assistance of experts, not only to navigate out of trouble, but they also have some stress his life.

These are problems no one liked horrible involved with and no matter how hard they have tried, has done little development in search of better solutions to it. Before you get stressed, a service of personal finance can lend a hand for you.

Financial services are able to work with your creditors and ensure that the reduction of interest, cycle counts to get under way, and, incredibly, to receive their payments reduced. Teachers available at these relevant agencies is knowledgeable in all areas of finance, and that they can find better solutions to their debt problems that are 99% not involved in bankruptcy.

Below are playlists on how to find personal financial services at its best.

First, contact a company through a network of professional help. All companies have already reached the state of the art of the results are shown in these networks. Hence, stop wasting time searching the Internet. Personal finance companies take advantage of the recessionary conditions. To compare debt settlement companies, it would be to visit a network of debt relief without seeking growth companies in your area for free.

Second, look at the advantages and disadvantages of each and see which will help you more. So how can a firm ensure legal and illegal? The document focuses on the legal word. If the business you have chosen does not appear with a particular network, is illegal. This is a very important way to identify the scams and will save you money.