Credit Cards

Category: Finance, Financial Planning.

Banking/ Credit. You can save more than$ 100 a year in fees by selecting a checking account with a low( or no) minimum balance requirement that you can, meet, and do.

Checking. Request a list of these and other fees( including ATM and debit card fees) that are charged on these accounts. Direct deposit offers the additional advantages of convenience, and immediate access, security to your money. Banking institutions often will drop or lower checking fees if paychecks are directly deposited by your employer. Savings and Investment Products. An increasing number of products offered by these institutions, including mutual stock funds and annuities, are not insured.

Before opening a savings or investment account with a bank or other financial institution, find out whether the account is insured by the federal government( FDIC or NCUA) . To earn the highest return on savings( annual percentage yield) with little or no risk, consider certificates of deposit( CDs) or U. Savings Bonds( Series I or EE) . Once you select a type of savings or investment product, compare rates and fees offered by different institutions. Credit Cards. These rates can vary a lot and, can significantly affect, over time interest earnings. You can save as much as a thousand dollars or more each year in lower credit card interest charges by paying off your entire bill each month or by using a check, cash or debit card for purchases.

You can reduce credit card fees, which may add up to well over$ 100 a year, by getting rid of all but one or two cards, and by avoiding annual, and over, late payment- the- credit limit fees. If you are unable to pay off a large balance, pay as much as you can and switch to a credit card with a low annual percentage rate( APR) . Auto Loans. This could save you as much as several thousand dollars in finance charges. If you have significant savings earning a low interest rate, consider making a large down payment or even paying for the car in cash. You can save as much as hundreds of dollars in finance charges by shopping for the cheapest loan. Contact several banks, and the auto, your credit union manufacturer s own finance company.

For We Must Always Remember That Finance Is Only The Handmaid Of Industry

Category: Finance, Financial Planning.

Capital, is wealth invested, then in industry, finance is the machinery by which this process of investment is carried out, and international finance is the machinery by which the wealth of one country is invested in another.

So here we have this quiet country doctor spreading all over the world the money that he gets for dosing and poulticing and dieting his patients, stimulating industry in many climates and bringing some part of its proceeds to be added to his store. Let us consider the case of a doctor in a provincial town who is making an annual income of about L800 a year, living on L600 of it and saving L20Instead of spending this quarter of his income on immediate enjoyments, such as wine and cigars, and journeys to London, he invests it in different parts of the world through the mechanism of international finance, because he has been attracted by the advantages of a system of investment which was fashionable some years ago, which worked by what was called Geographical Distribution. [2] This meant to say that the investors who practised it put their money into as many different countries as possible, so that the risk of loss owing to climatic or other disturbances might be spread as widely as possible. Let us see how the process works. As long as his money is in the bank, the bank has the use of it, and not much of it is likely to go abroad. First of all he has a bank, into which he pays day by day the fees that he receives in coin or notes and the cheques that he gets, from those of, each half year his patients who have an account with him. For the banks use most of the funds entrusted to them in investments in home securities, or in loans and advances to home customers. A bill of exchange is an order to pay.

Part of them they use in buying bills of exchange drawn on London houses by merchants and financiers all over the world, so that even when he pays money into his bank it is possible that our doctor is already forming part of the machinery of international finance and involving us in the need for an explanation of one of its mysteries. When a merchant in Argentina sells wheat to an English buyer, he draws a bill on the buyer( or some bank or firm in England whom the buyer instructs him to draw on) , saying, "Pay to me" (or anybody else whom he may name) "the sum of so many pounds. " This bill, if it is drawn on a firm or company of well known standing, the seller of the wheat can immediately dispose of, and so has got payment for his goods. These bills of exchange, are promises to, when thus accepted pay entered into by firms of first- rate standing, and are held as investments by English banks. Usually the bill is made payable two or three, or sometimes six months after sight, that is after it has been received by the firm on which it is drawn, and" accepted" by it, that is signed across the front to show that the firm drawn on will pay the bill when it falls due. Bills of exchange are also drawn on English houses to finance trade transactions between foreign countries, and also as a means of borrowing money from England. When they are drawn on behalf of foreign countries, trading with other foreigners, or using the credit to lend to other foreigners, the connection with international finance is obvious. When they are drawn on behalf of English customers, the credit given is given at home, but as it is( almost always) given in connection with international trade, the transaction may be considered as part of international finance.

They are readily taken all over the world, because all over the world there are people who have payments to make to England owing to the wide distribution of our trade, and it has long been England s boast that bills of exchange drawn on London firms are the currency of international commerce and finance. Certainly this danger is a real one, but it does not follow that we shall not be able to meet it and defeat it. Some people tell us that this commanding position of the English bill in the world s markets is in danger of being lost owing to the present war: in the first place because America is gaining wealth rapidly, while we are shooting away our savings, and also because the Germans will make every endeavour to free themselves from dependence on English credit for the conduct of their trade. If the war teaches us to work hard and consume little, so that when peace comes we shall have a great volume of goods to export, there is no reason why the bill on London should not retain much if not all of its old prestige and supremacy in the marts of the world. She is often a pert handmaid who steals her mistress s clothes and tries to flaunt before the world as the mistress, and so she sometimes imposes on many people who ought to know better, who think that finance is an all- powerful influence. For we must always remember that finance is only the handmaid of industry. Finance is a mighty influence, but it is a mere piece of machinery which assists, and lives on, quickens production.

The men who make and grow things, and carry them from the place where they are made and grown to the place where they are wanted, these are the men who furnish the raw material of finance, without which it would have to shut up its shop.

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What Is A 457 Plan - Finance and Financial Planning Articles:

What is a 457 plan? Contributions made to the plan with pre- tax money, and contributions are, earnings tax deferred while under the plan, and contributions are generally made by the employee, although some plans do have contributions by employees as well.

If You See Something You Think You Really Need, Give Yourself Two Weeks To Decide If It Is Really Something You Need Or Something You Can Easily Do Without - Ingrid Grimley's Finance and Financial Planning blog:

This is just a small example of impulse spending. Answer these questions truthfully: ) Does your spouse or partner complain that you spend too much money? ) Are you surprised each month when your credit card bill arrives at how much more you charged than you thought you had? ) Do you have more shoes and clothes in your closet than you could ever possibly wear? ) Do you own every new gadget before it has time to collect dust on a retailer s shelf? ) Do you buy things you didn t know you wanted until you saw them on display in a store?

Over The Last 10 Years The Western World Has Enjoyed The Biggest Property Boom In Its History

Category: Finance, Financial Planning.

Chances are that everyone has thought about their retirement plans at one point or another. Property, particularly in the form of a holiday home has become one of the biggest ways for people to save for their retirement with around seven million homeowners using the sale of their homes to help themselves.

Whether you are panicking about how you will support yourself or counting down the days, it s highly likely you have thought about where your funds are going to come from. Over the last 10 years the Western world has enjoyed the biggest property boom in its history. This has resulted in thousands of investors buying a holiday home so that they can make a tidy profit when it comes to selling on. Over the last decade house prices have boomed in almost every developed market with the exception of Germany and Japan. A great place to make this investment is in Menorca. Menorca villas normally have plenty to offer in the form of entertainment. There are many reasons for this but the main one is probably the fact that there is so much to do their which means that there is something to suit everyone.

For example, there is usually a swimming pool, tennis courts, gym, cafes and much more. British residents buying property abroad is not unusual and the value of property in developed economies has increased by$ 30 trillion over the last five years. This means that you don t even have to leave the complex if you don t want to or if you just fancy a quiet day. This trend started about 20 years ago and those who now want to sell up in time for their retirement are starting to reap the benefits. This means that you don t have to settle for something that you are not happy with because you are bound to find somewhere that you really like. As Menorca villas have become so popular over recent years, there are now plenty available to choose from. There are villas near the beaches, in busy resorts, in towns, in quiet resorts and in tourist areas so there is something to suit everyone s tastes.

It is very rare that house prices go down and if anything they are more likely to increase. Although prices have gone up, investing in Menorca villas is still likely to be a successful way of investing in your future. This means that there is a strong possibility that by the time you retire prices will have gone up enough to help fund your retirement. Bearing this in mind it is hardly surprising that many people are buying Menorca villas instead of a second property in the UK.

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These Will Only Give Back A Small Amount Of Interest - Finance and Financial Planning Articles:

Few families pass on actual knowledge about wealth building to their children.

The Path To Financial Doesn T Have To Be As Complicated As We Tend To Make It - Roseann Bisson about Finance and Financial Planning:

There will be many terms you will come across during your research that will be somewhat confusing until you get the terminology down. I would like to take this opportunity to encourage you to seek the guidance and advice of a professional financial planner.

This Is How You Can Find The Best Estate- Planning Attorney For Your Family - Tara Mayne about Finance and Financial Planning:

Finding a good estate- planning attorney is vital for the success of your estate plan.

Tied Advisors: These Advisors Can Only Sell And Advise On Products From One Bank Insurer S Own Range

Category: Finance, Financial Planning.

Wealth strategies that address this altering future are also changing every day, bringing a greater level of complexity to the decision making process.

Financial advisors must have increasingly sophisticated methods for synthesizing the information into high- quality advice. With the advent of at- your- fingertips technologies, we live in a global society rich in information and knowledge. Before web- based information, most individuals had a" Do it for me" approach. Recent studies show that today, the emerging model is more of a" Do it together" approach. During the 1990 s, there was a dramatic shift with more people wanting to" Do it myself, " approach that worked for some and was fatal to many. What it means is that people want an advisor with financial prowess who understands them individually.

However, with the interactions of various complex financial products, professional help is very useful and it s worth paying an advisor to ensure you get it right, especially on the following: annuities, financial and tax, endowments planning, mortgages, investments, protection products and pensions. They also want one who realizes that the decision- making process includes an ongoing dialogue with their advisor so they understand the decisions they are making. Advisers are legally divided into one of three types. Tied Advisors: these advisors can only sell and advise on products from one bank insurer s own range. Independent Financial Advisors: these people can advise and sell products from any provider right across the market and are obliged to give the best advice. Their job s to try to sign you up to one of their companies products.

While this is better than tied advisers, it s still not your best choice because of the strict rules they must follow. Multi- tied Advisors: these advisors are allowed to sell and advise on products from a limited panel of firms. If you are going to get professional advice, always check to make sure you obtain an Independent Financial Advisor. Also, tax accountants are often crucial and unavoidable if you re self- employed or have complicated tax affairs. These advisors are able to look at products from the entire market, unlike tied or multi- tied advisors who can only sell from a limited range. Mortgage brokers will look at all of the mortgage lenders to pick the best price for you and evaluate your personal situation.

They have proven to be uncompetitive, limited in range and often try to persuade you to purchase products totally unnecessary. And last, it is advised not to use a bank manager for money advice.

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There Are Many Benefits To Having Your Money Problems Under Control - Finance and Financial Planning Articles:

I could only guess what a great feeling it would be to be totally out of debt. Although most people will have a hard time getting a handle on the money that goes through their hands if you plan everything right you most certainly can take control of your money.

Have You Considered Real Estate Mutual Funds - Finance and Financial Planning Articles:

Income is hard to come by these days. The bond market is in disarray, credit spreads are widening( meaning the price of existing bonds is declining) and there are serious liquidity issues( which also impact value) .

The Policy Has A Large Loan - Finance and Financial Planning Articles:

Most people do not know they can sell an insurance policy. Even term insurance, which has no cash value, is a candidate for purchase.

But Maybe Living With Aunt Gertrude For The Rest Of Your Life Is Not Your Ideal Retirement Scenario

Category: Finance, Financial Planning.

The beginning of a new year is the traditional time to gaze into that proverbial crystal ball and make your New Years resolutions.

No question about that. And hey, this time you are really going to keep them, right? And in 2008, you really will stop your ten- year spending spree. If the US economy collapses as a result, there s always Aunt Gertrude in Germany who will take you in. Good for you! But maybe living with Aunt Gertrude for the rest of your life is not your ideal retirement scenario.

These will allow you to retire sooner than you ever thorugh possible. If you, like so many others, have been putting off thinking seriously( rather than just dreaming) about your retirement, maybe its time to add a few very specific resolutions to your New Years list. Below are five you might consider. Take the retirement readiness quiz( see below) to get a baseline evaluation of your situation. First, begin by doing, however a quick self- evaluation. This free quiz measures your readiness from various different perspectives, only some of which are financial. I Will Set A Date: I will determine the specific date I will retire, and I will write it down right here, right now!

Then, depending on what you learn, you can modify the following list to suit your needs: So here are your five retirement resolutions. Month/ Day/ Year: Wow. So, through my carefully- honed mathematical skills of subtraction, the time I have left before that date is( ) years and( )months. I did it! Oh my God! That s not much time! Really?

I better get going! I Will Remember The Happy Times: No, not just the great vacations! OK, here goes! Others who have thought of retirement as a perpetual vacation have mostly wound up disappointed and depressed. I Will Make a Life Plan: Based on this information, I will make a specific retirement life plan including( a) where I will be living, (b) what I will be doing in the first two years, (c) who I will be doing it with, and( d) what I want to accomplish. I know I will need to" get a( new) life. " In order to figure out what will make me feel happy and fulfilled in my new life, I will think about what I was doing when I was happiest and most satisfied in the past, and then plan to recreate those situations in my retirement life.

I Will Share My Plan and Get Buy- In: I will share this information with those closest to me to make sure they are bought in and supportive. I Will Create a Financial Plan: I will estimate how much this is all likely to cost on an annual basis, and then I will meet with my financial advisor to review both my life plan and my finances and develop a realistic financial plan which will ensure that my resources will be sufficient to support me for the rest of my life. I will make adjustments based on their feedback. Based on what I learn, I will make the necessary adjustments to bring my life plan in line with my resources. Whew! Then, I will begin immediately to make the maximum possible contributions to my retirement accounts every year before I retire. That was hard work!

And that will be easy, because in the past I have always kept all my New Years resolutions! Now all I have to do is make sure to keep all of these resolutions in 2008 and beyond. Right.

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A Budget Is Basically A List Of Expenses And Income - Finance and Financial Planning Blog:

It is fairly common knowledge that money matters can be simplified and controlled with a budget. It is not a really hard task, but one that many people avoid.

Not Having Savings Often Leads To Debt Spending - Finance and Financial Planning Blog:

Saving Money is the key to financial freedom. Inside many people simply feel that life is for living now, not for sometime never in the future and anyway they already contribute to a 401k.

The First Is A Medical Power Of Attorney - Ingrid Grimley's Finance and Financial Planning blog:

Few topics confuse investors more than figuring out what estate- related documents they need.

This Serves As A Guideline For Making Winning Grant Proposals.

Category: Finance, Financial Planning.

We all know how important grant writing is in getting considered for this kind of financial aid.

Their impression will be sullied right then and there, because the grant providers will feel that an applicant who makes a poor proposal will not have much talent to carry on the business either. There are several government and private organizations that are willing to provide grants to people and companies, but they will not consider those applicants whose proposals are shoddy or written in an inexperienced manner. And, the first impression, as they say is the last impression. This was a problem until a few years ago, when many well- meaning businesses did not manage to get the US government grants they hoped for because their proposals were not considered good enough. That is why grant applicants need to make their proposals very strong. However, today there are a lot of resources available that can teach you how to write for grants in a professional manner. This is what resources like the software available at unclesamsmoney software have to offer for prospective US government grants applicants: ?

Many people are using such resources nowadays to draft their grant proposals, seriously speaking, and, it is these proposals that are winning the much sought after United States government grants. There are several important strategies that grant applicants must know. US government grants software always has a help section to help people know about the right way of completing a grant application proposal. ? Some of these are like providing a proper goal about what their business is set out to do, the means they will employ and the procedures they will adopt to achieve these goals, making an estimate about the kind of money the project will require, etc. ? The tools will also provide prospective applicants with good examples on some proposals that have managed to really get US government grants. Nothing works better than a professionally worded proposal.

This serves as a guideline for making winning grant proposals. ? Among other things, it creates the impression that the applicant has actually taken the time and effort to apprise themselves of the grant related language. However, it is not easy to lay hands on such grant related terminology. ? That reflects excellently on the diligence of the applicant. They also provide you with several grant resources and important contacts that will help you see the actual grant money coming into your account at the end. They also have some training activities to help you understand the whole procedure better.

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- Articles:

Let S Look At The Retirement Plan First

Category: Finance, Financial Planning.

In the 6th century BC, Aesop gave us a timeless moral in The Ant and The Grasshopper: "It is thrifty to prepare today for the wants of tomorrow. " In the early twentieth century, Italian writer Luigi Pirandello gave us more food for thought for our preparations: "Whatever is a reality today, whatever you touch and believe in and that seems real for you today, is going to be- like the reality of yesterday- an illusion tomorrow. " What do these wise words have to do with financial planning? While it can be useful to look at the past at what your parents did to be successful, it may not lead to the best results.

Simply stated, it means that being prepared for tomorrow requires you to look forward to what tomorrow will be like. You therefore need to ask what your world will look like when you get to retirement. What will your tax burden be? More specifically: What can you expect from your investments? Will you retire into the same set of circumstances that your parents or grandparents did? Due to the aging of Baby Boomers and longer life expectancy, the number of people over age 65 will reach almost 20% of the population by 2030, up from 14% today. One thing we know for sure is that the coming two decades will see the largest group of retirees in our history, with over 82 million Americans in or entering retirement.

What does this mean for your nest egg? To prepare for these eventualities, you will need to put your current and future resources and assets to their best and highest uses. For starters, since we re likely to see higher taxes in the years ahead along with lower social security benefits, you will need more of your own resources for retirement. For most people, this means their homes and retirement plans( IRAs and 401ks) . We have been taught for as long as we can remember to maximize our pretax and deferred taxation plans to prepare for retirement. Let s look at the retirement plan first.

Notwithstanding this advice, most people still haven t saved enough to create a comfortable retirement. S. households is$ 49, 94If you ve done better than this, be thankful. According to the Bureau of Labor Statistics, the average amount saved by U. But what will happen to your nest egg if the two scenarios outlined above( higher taxes and longer life) come to pass? Regardless of whether you re in a higher tax bracket or not, you can expect to pay as much as ten times more in taxes over your lifetime than you saved by deferring them. What nobody told you when you started putting all of that money away in tax- deferred accounts, was that when you start taking it out you will( a) probably be in a higher tax bracket, and( b) will need to pull more money out to keep the lifestyle you are used to. It may therefore be smarter to stop putting so much money away in these plans, or to pay your taxes early in retirement and put these dollars in accounts that can generate future tax- free income.

For those in the 50- plus age bracket, you can create a tax- free retirement plan by putting up to$ 15, 000 per year into these plans using after- tax dollars. If you are still working, ask your employer if they will offer the new Roth 401k plan. If you are currently maximizing your 401k contributions, you may want to lower the amount to what your company will match, and put the rest into a private retirement plan or a Roth 401k. Here, traditional wisdom teaches you to pay your home off in order to be debt free. The second area to examine is your home equity. In the process, you tie up hundreds of thousands of dollars that are not growing, and in fact are at grave risk should your home lose value due to market conditions or natural disasters.

We think there is a better way to manage this very important asset. Senator Trent Lott, lost over, for example$ 400, 000 in equity when his house was destroyed by Hurricane Katrina, even though he had flood insurance. If you could invest these equity dollars and earn a safe, liquid return on them, you could create additional retirement funds that, could generate tax, if invested properly- free income. Andrew. This concept is best explained in the book" Missed Fortune 101" by Douglas R. Doug has worked with these concepts for over 25 years, and has helped many hundreds of families create more income with less risk and greater choice and control.

I would recommend you find one in your area. There are also many professionals trained by Doug to deliver this information in public seminars throughout the country. Ultimately, creating and preserving wealth requires knowledge and discipline. It would be best to start both today. Knowledge can be learned or purchased, but the discipline must come from you.

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Educator Expenses - Finance and Financial Planning:

How many times have you done your taxes, and a week or a month later realized you forgot a deduction? In my experience, these are the top 5 missed deductions.

Why Seniors Don T Buy Long Term Care - Dale Simms's Finance and Financial Planning blog:

In the next few minutes you will learn about a new insurance industry product that provides long term care insurance coverage if you ever need it, but requires no policy, premiums or health qualifications. In my experience, over half the people who shun long term care insurance do so because they feel they will never need it.

Also, Your Joint Tenancy With Another Person May Prevent Your Children From Inheriting Such Joint Assets - Casey Colston about Finance and Financial Planning:

If you are a woman, and have assets, are financially secure that you expect to pass on to people you love and care for, you must make a suitable estate plan.