Financial Tips For Newly Weds

For a young couple, preparing for your wedding can be financially strenuous and life after the wedding day if not properly planned can be a dangerous. More so if the couple are not from financial buoyant families.

Have a budget, do not borrow to buy liabilities

Now that the party and celebrations of your wedding are over, it is time for reality of life after the wedding day to begin.

Here are a few tips to help you start off on a good footing:

1) Pay Off Debts: Sometimes it is possible that you have outstanding bills to settle with some vendors who offered services at your wedding. Make it your priority to pay off any outstanding debts. It is not a wise thing to start a family in debt. Off setting your debts helps you start off your new family on a clean financial slate.

2) Furnishing Your House: If you have not already furnished your house, it is wiser to start with the essentials (cooking gas, refrigerator, TV and sofa). If you earn a regular monthly income, you can approach vendors of these items for an instalment payment agreement to purchase some of these items. Most stores will agree to this because they want patronage.

3) Have A Budget: You must form the habit of having a monthly family budget to cater for your monthly needs. Include your rent in your monthly budget. Do not wait until your yearly rent is due before saving towards it. This will put under undue financial pressure. Also include in your budget a percentage for charity (no matter how small). When you give to those in need, nature has a way of reciprocating when you are in need.

4) Have A Savings Culture: If you have not already imbibed a savings culture, now is the time to do so. As a couple, save towards major long-term projects like purchasing a plot of land to build your own house. When you build your first house, build to accommodate tenants too so you can earn rental income which you can use for other investments like buying and developing another property.

5) Do Not Borrow To Buy Liabilities: If you have to borrow, then borrow only when you have to buy an asset that will further generate income. Do not borrow to buy a car, phone or clothes. Those are not assets. While a car is good for convenience in mobility and every family deserves to have one, it still requires maintenance and maintenance will cost money.

6) Be True To Yourself: It may sound old school but these days a lot of young people are living a lie. As a couple, you must understand that nobody really cares about how you lead your life. So do not go about trying to win the people’s approval. Stay focused on building a good family and stay true to yourself.

7) Have A Positive Outlook: Research has shown that those who keep a positive outlook in life are more likely to succeed. Always keep a positive outlook no matter the challenge you come across. challenges will make you stronger and wiser if you face the storm with optimism.

Money Is Incentive and Inspiration Grows From It

While it is the great evil and has produced corruption and is one of the main reasons why the earth is in decline, it has been used by God to create incentive and inspire progress. It is the carrot before the horse leading it on and man has responded to it because of the earthly rewards it brings to him. The question is why when it has done so much damage was it allowed? What is it about money that has been so useful in the Spirit’s plan for good?

It would depend on how one defines ‘good’ to be able to see the big picture. Religions promise that all things are governed by several forces aside from the Divine. Evil, for instance, supposedly comes from the devil while luck also plays a role in the thinking of many.

The role of money has been to make men appear to be equal to God. In other words, through his inventions and interference with nature he is happy to think that he can change just about everything and manipulate it to his will. This has brought great darkness over the earth and now has delivered it to a state of decline from which it cannot recover unless humans are removed from it.

The big question is why would this be in the plan of God when the planet is beautiful, the creatures on it are magnificent, and their creation has taken billions of years? Why would it be jeopardised and destroyed because of money? Most want answers and they are appealing for them in a big way.

Man’s thinking is a soup of ideas with no single base to it. There can be no answer to the questions using our own logic as everyone has a different opinion. Thrown together they are a mismatch of mistakes and wrong thinking propelled by the 2 beasts of Revelation 11 and 13.

The Spirit of the Universe is the first thing he has missed. It is the Great Creative Power behind everything, good and evil (Isaiah 45:4-8). It is in complete control and it is everywhere. It knows our every thought, mood, deed, and desire. It uses us like puppets on strings to carry out its plan. It has everything lined up to happen and money is the incentive to make us move in certain directions.

How To Get An Early Advance On Your Inheritance

If there is someone that has died and has left an inheritance for you, then there is a legal procedure that has to be carried out, which also takes quite a bit of time. However, there can also be expenditures that you might need to take care of, and for that, you’d need cash early on. To assist you in such a situation, there are a few ways by which you can get your inheritance faster.

Some of the things that you will be required to do so as to get an advance on your inheritance are –

• Check if you can assign the inheritance – In a lot of cases, what happens is that you can assign your inheritance or transfer it to a lender in exchange for money. So, first and foremost, you need to check with a lawyer and see if you are allowed to do that or not. If you are, then you can easily go for this option and get your money instead of waiting for all the legal formalities to get over.

• Ensure that you qualify for an advance – The sum of your inheritance must qualify for an advance. This means that you must ensure that your inheritance amount is at least as much as an advance that can be given out.

• Have a consultation with your attorney – Talk to your estate administrator before going further with getting an advance because it will usually be less money than your inheritance would give you. Also, you must ensure the amount you will get is correct or not, with your attorney.

• Alert your estate attorney – You must have a word with your attorney without going further with the advance assignment. Also, all the details must be furnished to your attorney, so that they can carry on with the necessary procedures.

• Get all the required documents – Once you have decided that you will go for the advance, the next thing for you to do is collect and gather all the necessary documents to carry out the process smoothly. You must have all the documents, like the official death certificate, the will’s copy, probate court letters and documents, your identity proof, etc.

• Speak with inheritance lenders – Once you have all the necessary documentation in place, you must reach out to all the lenders in your locality and have a word with them. You could also conduct a research online to check which lender is giving you the best deal and then go for the one that suits you the best.

Money and the Spirit of the Universe

Many give God the name The Universe and that is pretty close to my knowledge of it. Experience of reincarnation and with a link to the Spirit it appears to me that it is in everything and everywhere and that it controls the money side of humanity. It would, therefore, be using money to create greed, to devastate the environment, to deplete resources, and to pollute the atmosphere. It has also used it as a commodity that mankind cannot do without. So why do we have it?

With my limited knowledge and as a result of my research it appears that money is a tool used by the Spirit to bring about the disasters that have beset the world. They include the weapons used to kill us. It is also the reason for the depletion of resources that is destroying the environment, polluting the atmosphere, and causing an extinction of species.

Animals survive happily without any to these things and perhaps that is the yardstick by which we should measure how money and the Spirit of the Universe are working against us. Money is an invention and like all other inventions it was meant to make life easier, but for whom?

Governments are dependent on money for their survival. They use it to build a country’s wealth and provide services. Those same benefits help to increase the population and improve health to the point where the great explosion is now more than the earth can cope with, or so it seems.

The evidence is in the way human behaviour changes. With the increase in numbers human life becomes less valuable. Fights break out more readily and wars are inevitable. As the resources dwindle, thanks to an over-consumption of them, countries that once drew large incomes from them are failing. An example of that is Venezuela which is now bankrupt.

Climate change and global warming are the consequences of this ‘better life’ that money provides and suddenly it seems that we don’t have the answers after all.

The question becomes ‘why has God allowed money to destroy the world?’ The answer is obvious when one considers how little thought many give to what they are doing when they over-fish the oceans, turn soil into salt by over production of food, and burn fossil fuels to the extent whereby the atmosphere is now poisoning us.

Surely these things were meant to be as one reads about them in the Old Testament prophecies. The thing that many can’t get their head around, however, is why is it happening in our lifetime? The answer might lie in what is happening in the world of finance.

Tips On How To Spend Your Windfall Income

As individuals, especially workers we sometimes get windfall incomes in forms of bonuses, profit shares, etc. However, a lot of the time the temptation is to spend the money on acquiring a new car, new clothes, shoes, new phones, among other things. While acquiring these things in themselves is not a bad idea, it is wiser to use windfall incomes for things that will have long term positive impart on our lives especially because we do not have a full grabs of what tomorrow will bring.

For workers just starting off or in mid level careers, it is really important not to squander windfall incomes on non-essentials.

Many years ago during the mid 2000s, when the banking and telecommunication really became big industries, many banks and telecommunication companies paid bonuses and profit shares to their staff on a yearly basis. Most new staff and mid level staff squandered their money on buying cars, renting new apartments in high brow areas and changing their wardrobes almost every 3 months. Nite clubs were packed every Friday night with each person almost trying to out do the other in terms money spent.

Today, the story is different. The global economy is almost comatose. Banks are no longer giving huge bonuses, neither are telecommunication companies doing any better. The oil industry is in shambles. Every industry is operating lean.

Windfall incomes will not come all the time as the economic realities have now shown us. So if you are fortunate to get a bonus or profit share that amounts to something reasonable, here are a few tips on how to spend wisely:

1) Invest in real estate: As much as this sounds like really over flogged, it is a wise counsel. A businessman once said, “the only Estate that is Real is Real Estate”. Real estate is big business. There is a huge demand for rental apartments especially mini flats and 2 bedroom flats. There are several real estate companies offering instalments payment options for those interested in buying land. You can invest your windfall income in buying a half plot or full plot of land. I will advice you buy from a real estate company rather than directly from the community especially if you do not have funds for immediate development.

The simple reason is that the real estate company usually would have sorted out community settlement issues with the land owners and so you can be rest assured that you land is at least secure from land grabbers. Also, by buying from a real estate company, you will benefit from quick capital appreciation of your investment and rapid development of the locations since there will be several people also buying and developing their property in that location. Another advantage of investing in real estate is that after developing the property, you can put it up for rent if you do not wish to reside in that location and use the rental income to pay for your rent in your desired location.

2) Invest in a part-time business: If you already have a business that you can run part- time alongside your full-time job, you should invest your windfall income in that business. You can buy the needed equipments or register for a training programme that will increase your expertise in that business area. If you do not already have business idea, you may want to consider doing some research to see what part-time business to invest in.

3) Invest in education: You can invest your windfall income in further education that will boost your profile and give you a better chance at a higher paying role in your industry or another industry entirely. You an also invest in the education of your loved ones like your spouse, children or siblings (if you have this responsibility thrust on you)

4) Invest in Marriage: Yes! you read me right.

This is for those who believe in marriage. If you have a partner and your really desire to spend the rest of your life with the person, then invest your windfall income towards settling down. You can start making down payments for some critical items on your list. Marriage is an investment in your lifetime happiness.

5) Invest in Charitable Activities: Don’t spend all your windfall income on yourself. Life is about sharing and putting smiles on the faces of others. You can give a portion of your windfall income to a charitable organisation. Depending on your religious leaning, Christians are advised to give a tithe of this to their local churches. However, if you are not a religious person, do well to give to a cause that will help humanity.

A Quick Introduction To Behavioural Economics

The study of human behaviour, which has traditionally come under the umbrella of psychology, would seem to have little relationship with economics.

But, as we learn more about how the brain works through the dual disciplines of neuroscience and psychology, there is an increasing marriage with the field of economics, in order to better understand how people make financial decisions.

This has evolved considerably in recent years and is an emergent field that deserves a little introduction and explanation.

The traditional view of economics and financial decision-making

It is sometimes forgotten in economics that the field is meant to be about the behaviour of people when making financial decisions.

The traditional economist’s view is that the world is populated by unemotional, logical, decision makers, who always think rationally in drawing their conclusions. This view is underpinned by the understanding that human behaviour displays three key traits: unbounded rationality, unbounded willpower, and unbounded selfishness.

This has always flown in the face of the findings of cognitive and social psychologists, who questioned these assumptions as far back as the 1950s.

With the rise of behavioural neuroscience since the 1980s (especially Kahneman’s work) providing more insight into the workings of the brain, we are now more sure than ever about the role that emotion and bias plays in all decision-making: from simple day-to-day decisions like which dress to wear, through to larger decisions that may affect many people.

Overconfidence and optimism are two examples of behavioural traits that may lead to sub-optimal financial decision-making, and divert from the traditional model used. People have also been shown to make poor decisions, even when they know it’s not for the best, due to a lack of self-control.

So this is where behavioural economics has been able to step in and modify many of the beliefs of the traditional economic views.

What is behavioural economics – and how can it help?

Behavioral economics and behavioral finance study the effects of psychological, social, cognitive, and emotional factors on economic decisions.

This may apply to individuals or institutions, and involves looking at the consequences for market prices, dividends, and resource allocation.

Of the three traits of human behaviour included in the traditional model outlined above, unbounded rationality has received special focus, with new understandings in the field resulting from neuroscience.

Understanding better how people arrive at financial decisions can help in many areas: from personal finance to organisations shaping products and trying to get more customer sign-ups; and from the vagaries of stock market trading through to governments and how they formulate financial legislation.

Perhaps behavioural economics can, in future, help people to make better decisions to safeguard their financial futures; it may even have helped if more attention had been paid to it in the lead up to the Global Financial Crisis in 2008.

7 Ways To Make Shipper-Carrier Relationships Better

Freight services are very important and load boards work great at connecting shippers with carriers. But the relationship between carrier and shippers ought to be good for the process to work out smoothly and be a win-win kind of a process. Fortunately, there are so many ways that can help improve the relationship between these two important people in the business. With stronger relationships, a reliable carrier network is maintained. By giving attention to carrier concerns, it is possible to build collaborative partnerships that are long lasting.

As a shipper, there are a few things that you can do to maintain a good relationship with your carrier.

1. Work for the good of everyone involved. This can be done by working with the carrier in determining which freights and lanes work the best. By working in conjunction with the carrier, then it is possible for profitability to be added to the network. It solidifies the relationship.

2. Honor commitment to the carriers. It is only when you honor your commitments to the carrier they will be able to honor theirs to you. Considering that carrier will usually base service price on data provided, then it is of importance that only accurate data should be provided. You should also ensure that you ship in tonnages and lanes that you say you will.

3. Be generous. This is in terms of the sharing opportunities that arise. When you bring new opportunities first to your carrier partner, then everybody will end up benefiting from an equitable agreement.

4. Start off with a plan. One of the best ways of avoiding a rocky start that could ruin an otherwise good relationship is to make sure that you start every new partnership with a plan. Allow a considerable amount of time for the carrier to get their system up and even train to take on new lanes and freights.

5. Avail all relevant data. The data that you provide during bidding process will largely determine how prepares the carrier is with regards to freight characteristics and location or even seasonal changes in terms of volume. It is therefore very important that you provide freight characteristic percentages and also monthly volume in addition to tonnage data and lane data that you give.

6. Keep communication lines open. Reviewing performance metrics, options and new services are always a good way of strengthening relationships. As a shipper consider holding regular meetings with carriers to discuss what matters most to the business. Using such meetings, you can come up with strategies to reduce costs and improve the business. Working together and communicating on a regular basis only solidifies the shipper-carrier relationship.

7. Embrace technology. In the same manner you expect real-time data on your shipments from your carriers you should make it equally easy for the carriers to transfer the data that you need. Choose programming options that offer them an accurate and smooth system of transferring the data that you need. There are so many technological tools that you can choose to make improvements to the business and relationship.

10 Tips For Those Investing in Property

Buying property is an excellent investment. Real estate almost always shows an upward trend in terms of value, hence you are bound to get a higher price for the property when you sell it. But entering the property investment arena is not easy. There are several ways in which you can go wrong. Hence, it is essential to know how to proceed so as to attain financial success in property investment.

Consider the following tips if you are investing in property:

  1. Reduce or eliminate existing liabilities. Improving your credit history and your repayment capability are key to securing a good loan against property. If you have taken other property or business loans in the past, it is time to either repay them or reduce your liability significantly. You might even cancel old credit cards that you no longer use – credit card usage is also considered when calculating your loan eligibility.
  2. Repay personal loans. Many people borrow personal loans to tide over sudden financial crises. While these loans are good solutions at the time, they come at a higher rate of interest. It is wiser to repay these loans quickly so that your repayment capacity is increased and your credit score is improved.
  3. Research different lenders. You might be tempted to take a loan against property from a lending institution that you have a long relationship with. You may even have taken other loans from the same lender in the past. However, consider taking a loan against property from a different lender at some point of time – it is not wise to allow one lender to assess your entire portfolio as a whole, rather than individually.
  4. Don’t pledge all your securities to the same lender. If you are an investor who has several properties purchased but pledged with the same lender by way of loans, then you may have a problem when you wish to realign some of these properties if their value rises. You might want to switch to another lender offering a lower rate of interest, but the current lender may not allow you to do so. In this way, you might miss out on a good loan product elsewhere.
  5. Prepare a detailed plan. Not approaching the property investment arena with a plan can scupper any potential success you might experience at a later stage. Prepare a detailed report of how your property portfolio will shape up, your cash flow analysis, your repayment strategy and time frame, etc. This will instil confidence in the lender about your methodology in handling the property portfolio.
  6. Review interest rates periodically. The RBI cut repo rates on home loans last year. If you have borrowed loan against property from a bank, you are liable to a lower rate of interest when the repo rate is cut (the interest rate is not reduced for loans borrowed from financial institutions). Meanwhile, you might feel that switching from a fixed rate of interest to a floating rate serves your finances better. A periodic review of interest rates is thus, necessary.
  7. Set up alternative cash reserves. Prepare a plan for tackling low cash reserves or a lack of income, either through a loss of job or loss of business. You might consider setting up alternative cash flow systems, or aim to monetise one or more of your properties to raise capital, etc.
  8. Structure your loan with an accountant’s help. A badly structured loan portfolio will result in increased taxation and reduce flexibility in terms of disallowing you to cross securitise. Structure your portfolio with the help of an accountant to increase your deductions.
  9. Choose the right interest rates. You might go with a fixed rate of interest when you take a loan against property, but if you repay the loan over a long period of time, you end up paying much more than you borrowed. If you are confident of repaying the loan earlier than the stipulated tenure, you could select a floating/variable rate of interest for lower repayment amount.
  10. Hire an experienced broker to negotiate your deals. You might not be adept at negotiating the price of the property, or even the best loan amount. Hiring a broker who knows the property investment space well and who also has contacts with lenders is a big plus. The broker can get you the best price for your home and also help you with getting a higher loan amount.

Trading Tips For Investment In Share Market

  1. Stocks never go positive by the accident. There should be large buying, normally from big traders such as mutual funds & pension funds.
  2. The most ordinary pattern is a “cup with the handle” names so because, it resembles a coffee cup, when viewed from the side.
  3. The finest buying point of any stock is the pivot point.
  4. On the same day a stock breaks out, volume must increase by 50 percent or more above its standard.
  5. A reduction in the price of the decreased quantity indicates no any significant selling.
  6. Replace the elderly adage, “buy low & sell high” with the “buy high & sell a lot higher.”
  7. You wish for to buy a stock, at its peak point. Don’t pursue a stock up more than 5 percent past its pivot.
  8. The chart price and volume action regularly can help you recognize, when a stock has gained its top and must be sold.
  9. History forever repeats itself in the share market.
  10. Mostly, big stock market experts breaking out of a noise base will go up 20 percent in 8 weeks or less from the peak point. Never trade a stock that does this in 4 weeks or less, you may perhaps have a big winner.
  11. The common market is represented by most important market indices like as the S&P500, Dow Jones Industrials and NASDAQ Composite. Observing the general marketplace is key, because most of the stocks follow the tendency of the common market.
  12. Ignore individual opinions about the marketplace.
  13. A usual bear market will refuse 20 to 25% of its crest price. A very negative political or economic atmosphere could cause an additional severe decline.
  14. Knowing when to together buy a sell a stock is key for the success.
  15. After 4 or 5 days of distribution within a 2 to 3 week period, the common market will usually trend downwards.
  16. Bear markets make fear and improbability When stocks strike the bottom and turn up to start the next bull market overloaded with opportunities, most of the people simply don’t think it.
  17. Most technical marketplace indicators are of small value. The psychological indicators as like the Put-Call Ratio can assist confirm moves in the market’s way. Many types of tips provider are provide you best stock market tips, MCX Tips, Commodity Tips for trading.

Tips Before You Choose An Financial Adviser

Something you should be clear about right at the first: A financial adviser is no God-send messiah whom you must bow to; neither is he doing you any one-sided favour. He has honed his skills over the years so that you can spot him right away in the crowd and while he is doing you a favour by setting your financial course right, you are also doing the same to him by giving him a chance to prove himself and add another plume to his hat. A financial adviser is no one without his clients, so deal things professionally. You have every right to know what’s behind each step he takes and guidelines that he is following; from your side, you must be fair with his fees and must not expect to move mountains in exchange of molehill-amounts. We hope that settles the doubts that made the task of choosing a suitable financial advisor seem daunting earlier in time.

It primarily depends on the kind of advice you need. The key to find the right financial adviser is getting done some work yourself, the first one of which is about knowing what you need the advice for.

Is it to manage your pensions? Year-long savings? Or, a long-term care planning? Maybe equity releases? Each of these got specialised advisers working for; the right selection will multiply your benefits many times beyond your expectations. You get specialised services even for devising your insurance plans. Home, car, travel – it can be anything.

Personal recommendations from friends or another family member are okay, as long as the recommended service provider can show a proven track record of positive accomplishments. Most of the time, it’s enough for people to built their trust upon a nice treatment; well, nicety and accounts are two different things.

It’s easiest when you are a member of a union or an affinity group and have access to financial advisers they have selected. Else, find out one on your own. Make sure all those who you would be going to and will be selecting from are under some regulatory board (like Financial Planning Services, and Bookkeeping For Small Business). It ensures the service provider will stick to the ethical means and won’t be able to jeopardise your resources with weird experimentations and whims. It binds them by rules they must follow when dealing with you. However, it also means they will have a consultation fee which you need to pay, whether you appoint him on your job later or not. Such advisers will always carry higher levels of educational qualifications.

As a rule of thumb, you must remember the following:

  • You’ll find them either independent or with restricted capabilities. Independent financial advisers deal in all types of retail investment products whereas restricted advisers are restricted in the type of products they offer.
  • Almost all offer holistic financial planning, which is providing advice on all aspects of required financial needs.
  • Insurance brokers are also considered Financial Planning Advisor and don’t normally charge apart from the premium for an insurance product.
  • The investing world runs on its own language. You must know the core ones in your type of financial advising sector so that you don’t get ridiculed with what you are saving for and the route to it. Essentials give you proper guidance and at the end, you’ll do fine.