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How To Get Ahead Financially When You’re The Only Parent?

08 Feb

How To Get Ahead Financially When You’re The Only Parent?

Facing financial problems when one is a single parent is a very common nightmare among millions. However there are ways to sort this out, and many resources through which one can get help. There could be credit card bills and other loans, and one may not be able to pay back.

You will first need to select a goal, which would suit your financial capacities, and whether you can sort them out. There are many service providers who will do the same, and you will benefit greatly from this.

The last thing you should do is panic, and discussing this will make it better for you. Once you do so, you will know the right steps to take, and this can be done with the help of financial advisors. Planning is the next important thing. When you are a single parent, you will have to make sure that your monthly expenses are always planned. Savings to a certain extent must also be considered. You have to be frugal to an extent as well, as you will have to plan each month within your limits.

One can also seek assistance with certain organizations, which will assist for free. They will be able to give you some help with your financial status and much more. You can also begin to network, and you might be able to source loans as well. Giving priority to certain things will help as well. You need to make a list of what needs attention first.

It could be mortgage or school fees. Whatever it is, only if you are planned, you will get anywhere. Having trustworthy people to advice you, will also make a difference. Keeping track of savings and expenses will also help, as one will know where to cut down on costs.

Keeping this in mind, one should plan the next months expenses. Loans should also be tracked, and anything unnecessary should be closed. Anything extravagant can be avoided and should be gotten only once in a while. Once you have everything planned, it will be easier for you to manage finances.

 
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How Is Your Cash Flow And Factoring

01 Feb

How did your company do this month with the cash flow? Why not let the question go; how has your cash flow been this year?

Did you sweat it out worrying you might not make payroll, get that vendor off your back, pay that tax bill that was due and it was a lot more than you expected?

For those of you that have a line of credit, did you get close to maxing out your line and have concerns that your line of credit is no longer an adequate facility.

For those of you that use your personal money or credit cards to fund your cash flow, did you have moments you thought about getting a loan or a line of credit from the bank because the pressure is mounting, but you still are unable to get the banks to lend to the money.

For those of you that have been sailing on smooth waters lately but you can see the approaching storm over the horizon and you dread approaching your bank again for an increase because they complained the last time because your growth is heavily centered around accounts receivables and they are getting uncomfortable.

Well, you may say that the checks seem to always come in the mail just in time to get you over the hump. I say, just keep throwing the dice, the numbers will not come up one day if you keep pushing your luck!

I could obviously continue with the examples but you get the point. The fact of the matter is that Factoring could be your solution for these and most scenarios when it comes to inadequate cash flow. Get informed about this form of finance and spread the word to your business associates. It could be what they are looking for also!

 
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How do payday cash advances work?

25 Jan

Payday cash advance loans are essentially short-term loans that may use a borrowers paycheck as collateral. Working individuals who are mainly dependent on their paychecks for money may occasionally find themselves in a spot where an emergency requirement arises and the next paycheck is still far away.

In such instances, lenders offer cash advances to adult individuals with an assured net income of at least $ 1000 per month. The loan amount is to be repaid by the borrower in full on the next payday. Cash advances charge a rate of interest of up to 20% and should ideally be taken in small amounts so that they can be repaid easily. The high rate of interest is charged as these loans are short term and given without a credit check. Most lenders offer a first-time payday cash advance of up to $1000.

The process of applying for and obtaining a cash advance is automated and can be carried out online. The borrower is required to submit a short application, which is usually replied to via email. The money is transferred to the borrowers account upon the signing of the loan agreement and submission of postdated checks. Alternatively, the lender can directly withdraw money from the borrowers account on the designated due date. Inability on part of the borrower to pay the loan in full may imply a violation of the loan agreement which can prompt the lender to demand non-sufficient funds (NSF) costs. If a lending agency chooses to refer a borrowers poor payment record to the credit bureau, it can harm a persons credit score and affect his chances of obtaining a loan.

Ideally, a person should refrain from taking payday cash advances often as these incur a high rate of interest. They should be kept as the final option when loans from friends cannot be availed and credit cards cannot be used. Factors that affect the approval of a payday cash advance include federal and state lending regulations, net income, and existing previous payday advances or other loans. Usually payday cash advances are scheduled for payment 15-18 days from the application date. Individuals can avail only one payday cash advance at a time from a given lender.

Lenders allow for an extension of the payment date and deduct an extension of payment fee on the original due date. There is a limit to the number of extensions allowed by the lender. Most allow up to four extensions of the payment date. The next scheduled date for repayment is usually the date of receiving a paycheck.

 
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How Do Interest Rates Work?

18 Jan

One of the most confusing things about borrowing money is calculating the interest rates. Interest rates vary and when you go to take out a loan or a mortgage it might seem intimidating when the loan officer starts talking about interest rates per annum, nominal rates and market interest rates.

There are different types of interest rates depending on whether you are borrowing money or investing money.

When you are borrowing money you have to pay interest back at a set rate. These rates are determined by several factors. One of these factors is risk. If you have a bad credit rating the rates at which you pay interest on loans may be significantly higher than someone who has a pristine credit rating.

The reason for this is that the lender sees you as a risk. When you are a risk, the rates applied to your lending rise. This can make it especially difficult for someone with a bad credit rating to purchase anything major including a home or a vehicle. They may be able to afford the initial payments, but once the interest rates are added, the amount exceeds their budget.

Another factor that determines interest rates is the length of the loan. Lower interest rates are often offered if the consumer extends the period of the loan. To the consumer this may seem like a windfall. They view the smaller interest rates as a savings to them. Short term it is but since the loan is being extended to take advantage of the lower interest rates, they are actually paying out more money in interest over the length of the loan.

Interest rates do not only affect just the consumer but they have an impact on the economy as a whole as well. When interest rates climb, people are less likely to purchase goods that arent essential to their lives. Car sales drop and home sales often plummet as well. The average consumer doesnt want to spend the extra money on the increased interest because the rise in rate just means less money in their pocket. The cost of the goods they are purchasing hasnt changed, its the cost of purchasing those goods that has.

On the other side of the interest rates spectrum is investing. People want to invest when interest rates are high so as to yield the biggest profit. Years ago the traditional savings account was often viewed as the traditional investment tool. The bank would post their interest rates and people would save their money in the hopes that it would grow substantially over the course of a number of years.

Today you are more apt to find people investing in many diversified things; money market funds, the stock market and bonds. If you decide to invest in bonds they will have a posted interest rate. The rates on bonds might be slightly higher than other investments because with many bonds you have to lock your money in to the investment for a specific amount of time. The period can be anywhere from several months to several years.

Interest rates impact our lives everyday whether we are aware of them or not. To keep on top of both your borrowing and investment needs its a good idea to follow interest rates.

 
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Housing Market Fallout

28 Dec

While some economists, during the early fall of the real estate boom, predicted that the situation will be soon under control, the latest forecast predicts a very uneven and rough road ahead for the housing market. And even a near miss with depression.

David Shulman, a senior economist for the quarterly University of California, LA, in his “A Near Recession Experience” report, stated from that the nation’s economic performance is expected to be “almost as close as you can get to avoid the technical definition of a recession.” That indicates the low growth in the nation’s Gross Domestic Product. It is predicted that there will be a growth of only 1 per cent during the last quarter of 2007 and in the first quarter of 2008.

Such a slow economy with 1 per cent GDP growth pace has a high risk of falling into an actual recession. This increases the danger of things becoming worse.

According to David Shulman, this forecast is based on a Federal Reserve’s last week’s report that gave an idea about the dull employment numbers, and the slight fall in the value of dollar in recent weeks. Both these factors would probably have further reduced expectations in the forecast.

While the previous forecast called for housing starts to bottom out at an annual rate of 1.2 million to 1.3 million, the forecast report revealed today expects a range of 1 million to 1.1 million for housing starts. This forces the belief that the recovery will be more halfhearted with starts hardly recovering to a 1.4 million unit annual rate by the end of 2009.

With home prices falling 10 percent to 15 percent, housing starts are expected to witness a 55 to 60 percent peak to trough decline. A very similar drop-off took place during the years of 1986 to 1991.

As Shulman said, home price declines are expected to drop by the end of 2009. Florida Arizona, California and parts of the Northeast are probably at the most risk to the larger price drops.

According to the report, the credit tightening in the mortgage market has complicated property purchases in the high-priced states and the mortgage industry is moving towards more full documentation, real cash down payments and more serious income standards and that is going to take a lot of people out of the market at the current price structure. The problems in the mortgage market could take towards some harsh adjustments in the home prices.

The report also mentions that the national scope of the real estate foreclosure problem in some ways look similar to the great depression in the market. The forecast expects that by the end of this year, the Federal Reserve will cut down the federal funds rate from 5.25 percent to 4.50 percent. The cut will be done to support the economy and not for the financial market.

The report also mentions that the mortgage defaults and the foreclosure of the mortgages is the main reason in the fall of the local housing market.

 
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Houses For Sale By Owner – Negotiating Tips

21 Dec

Houses for sale by owner, also known as “FSBOs,” are a unique case in real estate investment. Buying from an uninformed seller who thought he knew enough to handle everything by himself can be frustrating. It can also be very profitable if you are prepared.

Why do people try to sell a house on their own? Only one primary reason comes to mind: To save the sales commission. Of course they usually underestimate the cost and complexity of going it alone. They end up frustrated and tired of the process, ready to drop the price and be done with it. Help them solve their problems, and your reward can be a good price on a good investment. Keep the following in mind:

1. An owner isn’t an agent. Don’t ask possibly offensive questions. Don’t make negative comments about the house. Whether you like it or not, the truth is that it’s difficult to get a good deal if the seller doesn’t like you.

2. Houses for sale by owner have often been on the market a long time. The seller is usually tired of the process, and wants it to be done. In other words, you’ll get a better price if you are willing to close quickly and easily.

3. FSBO sellers usually think they’re being smart. Encourage that belief and they’ll be more open to your offer. When they have a good idea, tell them so. It is not unethical to make people feel good about themselves when negotiating.

4. They usually don’t have a plan for where to close, where to buy a title policy, where to keep a good faith deposit, etc. Be ready with simple solutions to all these problems. Walk them through the process while letting them feel in control, and you’ll both be happier.

5. They have often spent more than they anticipated. Advertising and other costs have already eaten into their imagined extra FSBO profit. Be generous in negotiating any pre-close expenses – as long as you get your price and/or terms.

6. Pass over problems and return to them later. Once a seller has invested more time in a negotiation, he’ll be more inclined to give you what you want.

Professionals will tell you that most houses “for sale by owner” net less than those sold by an agent. It’s too late for the seller to recover his money and time spent, however, so he usually just wants to get the thing sold as easily and quickly as possible. Help him with that, and you can get a good real estate investment at a good price.

 
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Hotels: How to Get Free Gifts

14 Dec

Planning to visit Las Vegas or any other vacational resort where casinos are a major portion of their business? I have just the thing for you. Here, I will show you how to pass off as a High Roller and collect many complimentary items and gifts.

What is the Secret?
The Secret is that you have to make them believe you are rich and love gambling. In short you have to impersonate a High Roller.

Why?
Hotels love high rollers because these players leave behind thousands of dollars each visit. And the real cool part about this is that if you act the role, casinos will lavish you with the same gifts and complimentary items that a real High Roller would receive.

How ?
It is not that difficult to fool the hotel and resorts with some finesse and true self-confidence. It can be done.

1) The Way you Dress:
Elegant and smart is the way to go. Opt out of the baseball cap, t-shirt and jeans. Try and wear a suit or at least a regular buttoned shirt with an elegant dark jacket. It was Shakespeare who said that the clothes maketh a man, and so too, when going to a hotel resort. They judge you according to how you dress, so dress according to the role.

2) A Large Pad of Notes:
Yes. Just like in the movies. Carry a large bundle of notes with you and keep them in plain sight. You do not have to really take with you that much. Instead, take a few notes and place them at the top and at the bottom of real note-size paper cuttings. Just remember to never expose this while you are in the casino. Use other notes youre your wallet instead. But do it nonchalantly so that none of the casino personnel will notice.

3) Always Flash Your Notes Around: No matter where you go, whether its to the hotel restaurant for lunch or for to the bar. They will be watching. From time to time, use that money to play at a range of table games or video game and bet some of that money. Remember you must use some of your money to play but just do not use all of it.

4) Play Complicated Games:
This is one of the more problematic things to do and requires some training at home. Learn on your own how to lay and how to bet on the high rolling games such as roulette, baccarat and craps. You could also play poker or Texas holdem in one of the larger ante tables, but in any case stick to your plan and you will soon reap the flowers.

Conclusion:
Above, I have outlined some of the more practical methods by which one can save money by receiving gifts from the casino. These gifts range from casino comps (free money to play), room deals that can get nearly free and many others such as free drinks, clothes, coupon to stores in Las Vegas and many more. Note that what you are doing here is completely legal provided you don’t take up a false name or falsify your passport card.

 
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Holy Grail Of The Capital Markets

07 Dec

Introduction

Ever since I retired at the age of 28. I have been doing a lot of thinking into these Tough Cases of the investment world. What I present today hopes to unveil the most mysterious of them all, the Holy Grail of The Capital Markets and I will be giving you my argument as to why it truly exists and to help you find your personal Holy Grail of Trading and Investments by the time you finish reading this report.

So lets go treasure hunting

The Fabled HOLY GRAIL

We have heard it a thousand times; investors and trader, young and old have sought it for hundreds of years and countless more are attempting to create it everyday. It is the fabled, urban legend of the investment world the Holy Grail of the Capital Markets; A trading or investment system or strategy that will never fail.

Some believe in it, others dont and many maintained that such a strategy or system doesnt exist or simply impossible. Many have claimed to have perfected such a system but when tried by people other then themselves, it fell from Holy Grail to torn, leaking paper cup.

The Wrong Perception

There was once a warrior near the end of the dark ages whom heard of the power of a new weapon a weapon that can kill from ten paces away and can penetrate almost any known amour at that time a GUN. It was supposed to be an invincible weapon and he spent everything he had in order to acquire one of these weapons. Once he had that weapon, he wasted no time to duel the most powerful warrior known in that land. He fired many shots but missed and his life was taken under the blade of the veteran warrior.

Like the gun, we expect that the Holy Grail strategy to be invincible at all times. We imagine that we will never again lose money once we acquire that knowledge. We cant be more wrong. The question really is, are we suitable for this invincible weapon?

The Truth Behind The Holy Grail

We all think of the Holy Grail as a strategy that cant fail. However, we completely ignore the Human Factor! Study all the famous battles of any and all ages and we will see that many of the battles were lost not because of the strategy used but BECAUSE THEY ARE BADLY EXECUTED. Most of these strategies are good until screwed up by us HUMAN!

You are right. We, human, make and break every Holy Grail that ever existed. We are the Stand or the Base of the Cup.

Yes, we COMPLETE the Holy Grail through the effectiveness of our execution. We are truly the stand that completes the strategy and therefore we must all make sure we are the right stand for the right cup!

I am sure this sounds like you as much as it was me some time ago You purchased strategies that claimed to work wonders but no matter how hard you try, you bend some of its rules and end up hurt. Thats your prove that matching your psyche with the right strategy is so important. (Here is a free to download psychometric test to see what kind of trader you are and what kind of strategy you are suited for. Go now to http://www.mastersoequity.com/MOE_FREE_REPORT.htm )

You tried to stick to the rules, didnt you? But what did you do when your portfolio starts going into the red and the rules says STOP OUT NOW, AT THIS POINT!? That is why we need to understand what kind of stand we are BEFORE trying to understand the cup and eventually the market!

What Cup to What Stand?

Now that you have found your stand, it is time now to find the right cup to complete your personal Holy Grail. Unfortunately, not all strategies are worth the title Holy Grail. Many of these strategies are fundamentally unsound or that they have not been molded in the flames of real life trading. Therefore, a worthy cup to complete your personal Holy Grail needs to be:

1) Tested and True in real life trading with proven track record
2) Fundamentally sound
3) Logically sound
4) Tested and developed in your market of interest!

That last point got some of you baffled didnt it?

Yes, if you want to trade the US markets, your strategy needs to be developed and proven in the US markets and if you want to trade Asian equities, your strategy needs to be developed and proven in the Asian markets. Why is this so? Due to fundamental differences between the markets such as liquidity, investor sentiments and behavior, level of participation of institutional players and investor sophistication. Most strategies need to be optimized for the market it was developed for and therefore using it in other markets may result in a terrible loss due to different price behaviors that results in making your profit or loss taking point obsolete.

So why do I trade only the US markets? I trade the US markets due to the fact that it has the highest level of sophistication and its investors execute strategies which are little known in other markets. This makes sure that whatever you try to do in this market, It has the LIQUIDITY to ensure your profitability! It is akin to a huge departmental store whereas some other markets are small grocery stores at best.

And hey, we all know that there are more promotional and good value items in a department store than most grocery stores can afford to give, dont we?

Convinced why the US markets are our best choice yet? Good.

Where to Find YOUR Cup?

While there are a lot of good strategies out there, I wish to recommend that you go to www.mastersoequity.com/MOE_startradingsystem.htm (for aggressive traders) or www.mastersoequity.com/MOE_ridetheflow.htm (for long term traders). Both of these strategies are:

1) Tested and True with proven track records
2) Fundamentally sound
3) Logically sound and
4) Developed and tested in the US Markets!

CONGRATULATIONS, you have now in your possession, your personal Holy Grail of trading and investments!

 
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