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Category Archives: Finance

Basic Tricks For Choosing Bank

Credentials

The credentials and reputation of the institution should also factor into the decision. Larger banks are generally a reliable choice due to FDIC deposit insurance. Check with the Federal Deposit Insurance Corporation to find out if a business is insured under this coverage.

Think about Physical Convenience

Physical convenience can be a key consideration in this decision. You might opt for a location that’s convenient from your place or work or your residence. Consider extended hours offered by some institutions if you work alternative shifts and you cannot visit during regular business hours. Online services can help with many types of transactions, offering services such as bill payment, automated deposits, and access to balance information. Find out about the location of ATMs you can use for no or low fee transactions. Some banks are national companies, providing customers with access to service and accounts from virtually anywhere in the country. Other businesses are local, providing no ability to travel and visit brick-and-mortar branches.

Explore Fees and Service

Every bank has a unique structure for fees and services. You will need to contact any institution you consider to find out these important details. Ask about account fees, minimum balances, ATM fees, overdraft protection, and overdraft fees. Find out how the they handle international travel to see if you will be able to get assistance with foreign currencies. Some businesses offer more services than others, some involving additional fees and some not.

Consider Personalized Service

Choosing a national company can afford you many conveniences. However, it’s important to realize that you may sacrifice some personalized service with this decision. A variety of services from a national business may be fine for many consumers. If you prefer a more personalized touch with a hometown brick-and-mortar branch, you may be happier with a local entity. Anyone with a busy lifestyle and a variety of financial activities such as IRAs, loans, credit cards, and online bill payments may be better suited to a large, national company. People with simpler lifestyles might opt for a local business instead.

Prepare a Bill of Sale Properly

A bill of sale form is used to transfer the ownership from a seller to a buyer. The four main bill of sale forms are for: auto, boat, personal property and business.

The Internet made all these forms readily available at a reasonable price.

In five minutes or less, the user can prepare a bill of sale as follows:

  1. Purchase the form and download the form.
  2. Open the downloaded form and print.
  3. Use a pen; fill in the blanks by following the instructions.
  4. Done.

The common pitfalls and their repercussions:

  1. Using a free form download from the Internet. Such forms almost always contain errors and are incomplete.
  2. Using a handwritten bill of sale. Such forms almost always contain errors and are incomplete.
  3. Failing to detail and describe what is being sold. It is important to have what is being sold detailed and described.

Avoiding the three pitfalls listed above can help both the seller and buyer avoid both headaches and expenses down the road. The following are few common examples:

In the event the buyer is unsatisfied with their purchase as they may deem that what they received was not as described. A proper bill of sale including the condition of the item being sold thus resolving such issues.

Using an improper form that does not detail important information. This causes that buyer issues down the road when attempting to resell what was bought. As an incomplete form may lack a vehicle VIN number or boat identification Hull number.

The seller also needs to protect themselves as exemplified here. When selling a car, it is important to include the “Odometer Disclosure Statement”. This provides the seller legal protection in case the buyer alters the odometer in the future when reselling to obtain a better price. In such a case, it is impossible to ascertain who changed the odometer reading. The seller by using a proper form protect themselves from dealing with such possibilities.

 

Pick Best Money Transfer Provider

The costs of transactions

Sometimes the exchange rate could be favorable but then, the costs per transaction may be high. This is not an ideal scenario for many. You need to consider just how much you will be charged as the commission or the transfer fees before a transfer can be effected. One way to make it less hectic is to consolidate the smaller payments into only one. This lowers costs. There are providers that have better rates and yet others waive the fees altogether when a large payment is made.

Convenience

Some of the companies offer a very easy way to signup, others take so much time. There are online providers that offer their services 24 hours a day, and seven days a week. You, however, need to see the delivery and payment methods that are offered so as to ensure that all your needs are satisfied. Check for features like mobile wallet options.

Currencies needed

Not all the companies will operate in all countries and even offer all currencies. When you have to send money to areas that are remote where currencies are not popular, you may have to deal with delays. It is important you check that the currencies that you need are actually offered before you settle for a specific provider.

How reliable and safe is the foreign exchange provider?

You need to assess the reliability of the company. Consider how long they have been in business. Consider the amount that has already been transferred and what others think about the services that they have provided so far. Security of the platform also has to be considered. This allows you to think more clearly and make the most informed decision.

Save Money On Heating Bills

Make an Extra Layer Your First Choice:

Many of us opt to switch the heating on the moment that we feel a chill in the home. Automatically reaching for the heating will cause your energy bills to rocket. Instead, your first option should be to make an extra layer of clothing your first choice to keeping warm.

Have Your Boiler Serviced Annually:

As with all appliances within the home, general usage can take its toll on your boiler. This wear and tear will leave your boiler performing below its optimum level, hindering its efficiency and costing you more in energy bills.

To reduce the risk of wear and tear on your boiler, you should have it serviced annually. Ideally the service should take place before winter takes hold.

Along with getting your boiler serviced, it’s also recommended to install a CO2 alarm next to the boiler.

Bleed Your Radiators:

If you’ve put your heating on and found that the top of your radiator is cooler than the bottom, then you’ll need to bleed them. This isn’t a difficult task, nor is it time consuming. But it is one which should be carried out at the earliest opportunity to save you money on your energy bills.

To bleed your radiators, all you’ll need is a radiator key and a towel.

With your heating off, use the radiator key to turn the valve at the top of the radiator to release any trapped air. Whilst doing this, hold the towel just below the valve to catch any water which may trickle out. As soon as water appears, close the valve.

Set TRVs Low:

Many modern radiators come with TRVs, which enable you to set the temperature of the individual radiator. Whilst many of us will turn the TRV to six, this will cost you money without heating the room any quicker.

To help save money on your energy bills, set the TRV to its lowest setting, before gradually turning them up until you find a comfortable room temperature. It’s also recommend to keep the TRVs on a low setting in rooms which aren’t frequented often. This will help keep the room warm without wasting heat.

Use an ATM Machine

Verify the network logos: These logos may be located in the ATM or debit cards, are indicative of the acceptable banking consortium. This means the ATM machine will have a list of acceptable logos posted on it. Even though many cards are universally acceptable these days, there is a charge on using the card in other bank ATMs after a number of withdrawals.

Be Vigilant: The use of debit card at ATM machines should be done under complete care, make sure no onlooker can see the PIN designated to provide access to your account.

These machines are easy to operate and provide systematic guidance to the users, the steps involved in using an ATM.

Step 1: Select the appropriate bank ATM.

Step 2: Insert your ATM card in the designated slot or swipe the card depending on the machine.

Step 3: Select the language that you desire for the user interface, most machines offer English and regional languages to choose.

Step 4: Enter the PIN (Personal Identification Number) provided along with the ATM card at the time of registration. Make sure you memorize the PIN and never disclose the same to a stranger or even acquaintance, to avoid the risk of card fraud.

Step 5: Select from the given transactions. Generally, the options are available at most ATMs, such as withdraw, deposit, balance inquiry and transfer. If you choose to withdraw, the ATM prompts for the amount, which once entered the ATM checks the balance of the account, and renders the cash if feasible.

Step 6: The machine prompts for printed receipt, which will be provided if you opt for the same.

Step 7: One can choose to continue with more transactions or finish the same.

Make sure to remove your ATM card, if it is inserted at the beginning of the transaction, without fail.

Better Forex Trading Strategy

Forex Trading is a Long Term Wealth Building Tool:

For those who are new to this form of trading, this is not a “get rich quick” scheme. In fact, effective Forex trading strategy is based on risking a little bit of money each day and not trying to “win big” off of a few trades. The weighing of the risk and reward is very important to employing the best strategy that will result in getting good trades. In other words, do not risk more than you can afford to lose.

Trade from Logic, Not Emotion:

A “good feeling” or “gut instinct” is exactly that, an emotion-based response that actually has no bearing on whether a trade will turn out good or not. Those that excel at Forex trading strategy base it on research, current events and trends while leaving their emotions out of the equation. The good feeling is simply not enough to risk any money on a trade without the proper research and backing.

Use Limited Leverage:

The ability to trade on margins is one of the most attractive features in Forex trading strategy. In fact, many Forex trades are accomplished with a high degree of leverage which means that only a small amount of money is actually put up front. However, if the trade goes badly then you will owe more than what was initially placed up to your entire investment depending on the margins. This means that careful management of the margins is in order, so limit the amount of leverage used on your trades.

Carefully Consider All Decisions:

Despite all the planning, there are a lot of random events that may occur which will create results that you may not expect. However, this does not mean that you should make decisions too quickly or not consider all the possibilities. Too many traders will simply go by their gut feeling and not do the proper research in order to get the best results. For example, it is always a good strategy to have a “stop losses” order in place just in case the trade goes against expectations.

Understand the Market:

It pays to know how the market in general reacts on a day to day basis. While some might say that “history never repeats”, it is helpful to understand the conditions which created favorable trades on your behalf. Good Forex trading strategy includes a good understanding of the market itself and how it reacts to daily events.

Always Use Stop Losses:

Stop losses exist because one of the worst traits that many Forex traders develop is the belief system that things will turn around for a trade no matter how bad the losses. By putting in a stop losses order, a trade that goes horribly wrong will only cost a small amount of the investment because it was stopped at a pre-set amount.

Keep a Checklist:

It always seems to be the little things that matter when it comes to successful Forex trading. When creating a winning strategy, develop a checklist that you can mark off once each step is accomplished. In that manner, you can better follow your strategies for creating the best trade possible.

Financial Freedoms Must Protect

Legacy

As parents, your instinct is to take care of your children even when they become adults with kids of their own. One of the most important ways you can do this is by giving an inheritance to your kids once you’ve passed on.

While you have many years of making memories with your family, now is the time to make sure you’ve invested your money wisely. Making wise choices means considering the various tax benefits that different financial options have to offer. I know it can be confusing and frustrating to compare the options available to you, and that’s why it’s a good idea to turn to a financial advisor to counsel you on these important decisions. Your family’s well-being is at stake.

Autonomy

Life prepares us to be independent, doesn’t it? Sure, at first, we depend on our parents to care for us, to protect us. As we grow older, we build our independence. We start our own families. We become the providers.

However, during the retirement years doubt may begin to creep in about your ability to live autonomously. Without a steady stream of income, you start to wonder if you need to find a job or whether you can afford to live on your own. Talking with your financial advisor and planning for your future can alleviate these doubts and give you peace of mind knowing that you can continue to live the independent life you want.

Choice

When you think of retirement, a number of things come to mind, particularly a list of all the things you want to do and the age you want to retire. However, one vital piece of information that you may not have thought about is how much you’ll need to retire AND live comfortably. If this describes you, talk with your financial advisor today. Believe me, you don’t want to wait until you’re close to your targeted retirement age because you might discover that you’ll need more to live the retirement lifestyle you want. Your financial advisor will work with you to make sure you’re saving enough now so your dream lifestyle can be your retirement reality.

All about Money Transfer Technologies

Alternative Payment Services: Several websites allow you to transfer money through email, eliminating the need to reveal your bank account and credit card information online. Although online transfers have wide online security and fraud-prevention measures, they are not foolproof. Complaints like phishing scams, hacked accounts and identity theft are quite common.

Donation Texts: The use of text messages to transfer money became popular, when the American Red Cross used this technology to raise over $22 million in hurricane relief fund for Haiti. On the flip side, this technology is risky and scammers misuse this tool by asking people to text money to illegitimate numbers. Always check the organization’s website to confirm that the number you are texting is associated with the cause are supporting.

Bumping Phones: Mobile phones are fast replacing the wallet and on-the-go digital money transfers are becoming commonplace. Now, you can send and receive money by just bumping Smartphones together. Technologies include Bluetooth and near field communication (NFC, a set of procedures that allow Smartphones to establish radio communication with each other by touching them together or bringing them close to each other at a distance of 10 cm or less). Though, the risk of unauthorised payments from a stolen phone is yet to completely be addressed.

Remote Deposit: This technology allows you to deposit cheques from anywhere. Many Smartphone applications allow you to take a photo of the front and back of a cheque and download it into your account. While this process is secure, there may be concerns about the consequences if the phone is stolen or if financial information is intercepted. The remote cheques are not stored on the phone, and the data is encoded as it goes from the mobile phone to the bank’s computer system.

Mobile Magnetic Stripe Readers: These are small scanners that can be attached to Smartphones. Busy individuals, can just swipe credit cards on the scanner and the money is transferred.

Info of Exchanging Money

That is the real exchange for money and while most may not realise it the benefits derived from it are nothing but disastrous. We have yet to face the greatest disaster of all and that is the last days of life on earth.

There are no warning bells and no place to jump off the earth to escape because we are exchanging money for life. That is the way it was when it was invented and to understand that the Spirit took me back to Babylon and the start of formal religion, Islam.

The name of it then was also Zoro-Aster or Morning Star and a vision showed me how it came about. The rising sun’s rays were directed through a small hole in a stone to disperse into the rings of great beauty and perpetual motion. The people fell to their knees in ‘awe’, which is the same term as ‘or’ for ‘sun’ and ‘metal’, the most precious of which is gold.

The human mind is capable of the wildest dreams and the result of the sun-star and its effect on the population was so strong that it has never altered. In the center of the vision the right-angled cross is seen and this gave men the idea that by dying on it the rays of light could be ridden upwards into heaven. It was considered that men would then become mates to it and live forever in the home of the stars.

In other words they could ‘marry’ Mary, the name of the sun-star and it means ‘mother’s powerful eye’. The one on the cross was the ‘man in the eye’ or ‘mon-eye’ from whence came the term ‘money’. He was the exchange and the currency by which he traded his life for which he became a ‘god’, which is the origin of ‘good’ and ‘goods’.

Money is the product of a dream and the evil of notions that men can become Father Gods. It was born of evil and is the cause of God’s retribution and the destruction of the coming destruction of the earth.

Fee Only Financial Advisor

Pros of Hiring a Fee-only Financial Advisor

Those who are looking for the best advisors should consider one who is compensated in a way other than commission. These planners look at your entire fiscal situation and give you an honest, objective opinion on what you need to do. While they may suggest purchases of certain products, these will be ones that they believe will assist you in your goals. There is no loyalty to a specific company or product because there is no bonus or commission to earn.

You pay a fee-only financial advisor based on how often you meet with them. You could pay an hourly expense or you could pay a retainer in order to have him or her on call. You may even negotiate payment of a percentage of the investment assets your planner is managing. Each professional has his or her own pay structure.

In addition to having flexible payment options, you can choose between services. Some work with you to provide a complete financial review for a fixed project. You can also find someone to review your investment portfolio or develop a financial plan.

Things to Consider Before Hiring a Fee-only Financial Advisor

For most clients, this type of planner is the optimum choice. However, not everyone works well with a charge-based counselor. You may work better with someone who is either commission only or commission and fee compensated.

There is no guarantee that you will not have conflict. You should check references to ensure that your new asset manager is competent. Working for only a set rate does not equal competence. Those who are experienced working with people nearing retirement would not be the best choice for someone in the private sector.

You also need to check with the counselor about their requirements. Some will work with those who have a minimum level of assets. If you have a small portfolio, then you may not qualify. It is one of the many questions you should ask before hiring a consultant.