Car Buying VS Car Leasing: Which one is the best for you?

One of the best ways to acquire a vehicle is through paying for it upfront in cash. Except, very few people can actually afford to do this. So, when we mere mortals can't afford to pay for a car in cold hard cash, the first people we turn to are reputable dealers for a car loan. But this isn't the only way. Some of us simply cannot use a big chunk of our savings or monthly expenses for a big down payment, because of priorities. When life happens and you just can't cough up the dollars upfront, there is another option: car leasing.

Buying Pros and Cons

One big pro about buying a vehicle is the flexibility to keeps or sell the vehicle. You also don't have to worry about keeping it in tip top shape or going over the annual mileage limit since it's yours. Of course, this is provided that you've paid for it in full or are religiously paying for it week by week. Speaking of paying in full, you also get the benefit of completely eliminating the fixed weekly/fortnightly/monthly repayments once you've paid off your auto loan. All you have to worry about from then on will be petrol, maintenance, and insurance.

This isn't to say that buying a vehicle doesn't have its downsides. The first problem when you purchase a vehicle, whether outright or as a loan, is the fact that you need to have such a large deposit. And because there are car loan terms wherein you only have two years to pay, sometimes your weekly repayments are larger as well. While this may be cheaper as an expense in the long term, this wouldn't matter so much if your cash flow wouldn't allow for such a large weekly expense. The second problem with buying a car is that it's a depreciating asset. This means that from the moment you start driving that brand-new car, its value will drop by about 20% which means you'll never be able to get back the worth you paid for it even if you sell.

Car Leasing Pros and Cons

One of the best things about a car lease is the fact that it costs much less upfront. This means you can actually drive a better can than you can normally afford if you were to purchase outright. Of course, one of the biggest reasons for this is because you're essentially paying for a vehicle that costs less than its actual value. Remember how we were talking about how a vehicle depreciates in value once it's been driven? That's why.

If your cash flow is on the fluid side because of a higher weekly income then you might just be able to get that luxury car that was a little out of price range for an outright purchase. Even if you can't get a luxury car through lease, if your income is even just 20% higher compared to the minimum for bad credit card finance, you can get a pretty decent family sedan or even SUV with a relatively fluid cashflow -- and that is after weekly and lease expenses. Speaking of bad credit finance, you can actually help get your credit rating up if you're able to sustain good payments in your car lease. It's also much easier to acquire a lease than a loan when you're part of the credit challenged market. When your term is over, most companies will allow you the options of swapping the vehicle for a better model, returning it, or even paying for the residual value if you're on a lease to buy.

PRO TIP: If you own a business, leasing may just be the better option as you can actually have leased cars deducted from your taxes if you use them for business.

Of course, like anything else, car leasing has its own cons. Remember that, because you paid less upfront, you will end up paying more in the long run compared to buying a car. Since the vehicle isn't really under your name, you cannot return it with an excess of your contractual annual mileage allowance or in anything less than impeccable condition unless you want to be hit with fees. Also, if you fall in love with the car, you're going to have to pay for residual fees (see residual value above) to have the vehicle transferred to your name at the end of your lease term.

So, should I buy or lease?

Both car buying and car leasing have their ups and downs. But if you have some money saved up or if you can actually afford a higher upfront and (possibly) monthly repayments, buying a car outright or getting a car loan is definitely the smarter choice. Simply put, you end up saving more in the long run even if you have to shell out more during the initial stages.

If your responsibilities won't allow you to prioritize higher deposits or repayments, or your cash flow might end up a little tight, or if you're part of the credit challenged market, then a car lease is your best bet. Although you'll end up paying more by the end of it, your finances during the car acquisition stage won't be as restrictive.

How to Recognize Quality Truck Financing Companies?

Any company driver dreams of breaking free from their employer’s shackles and setting off on their own path of being an owner-operator. Not only is the pay better, you get to be your own boss, make your own rules and go wherever the road takes you.

That’s why you became a trucker in the first place, isn’t it?

Now is a perfect time to take this step. Why? Well, the truck driver shortage hasn’t gotten any better in the past couple of years. You can learn more about it here: http://gotruckcapital.com/funding/truck-financing/owner-operator/

And it’s bound to get worse!

There are only a few months left before the ELD mandate is finalized and all truckers are forced to switch to the electronic bookkeeping. This is bound to force older drivers into early retirement and make the shortage even worse while all that cargo just sits there waiting to get hauled.

But starting your own trucking business is not easy. Not many truckers are in a position to buy a truck up front. Most of them turn to financing companies for help. But big banks and huge financing corporations usually turn a blind eye to owner-operators, choosing to work only with established trucking companies. That’s where specialized truck financing companies like Go Capital come in.

They are only one of many companies offering financing or leasing services to truckers of all age, experience and credit score. But there are weeds even among them. To root out the good companies from bad, here are some of the most important traits to look for in a truck financing company.

Experience in the Field

Experience is everything in the trucking industry. Because of this big banks can never rival an experienced truck funding advisor in a small financing company. The staff at a quality truck financing company is skilled with finances and has a knowledge of how the trucking industry works. That means they can recommend the right insurance agencies, help you with rounding the paperwork and licenses up and give you advice on any other related matter. The only way a good agent can help you pick out the right truck is if they actually take the time to look into different types of trucks, equipment and trailers.

Size of the Company

A big bank can make you feel insignificant. If you ever visited a bank looking for a loan, you know what I’m talking about. Did you notice how the agent was anxiously waiting for their break while you poured your heart out talking about your dream of starting your own company? To a big bank, you are just a number. Another head in the queue. You can rest assured that you’ll never be treated like that in a genuine truck financing company.

Location

A company may offer great terms and trucks for lease, but that does not mean anything if you have to travel across several states to get to their office. Look for a company that has branches in your state, or at least offers an online consultation. This is important both for new businesses and established ones that may need to relocate to a different state.

Results

Friendly service and accessible offices are nothing if the company does not have results to back them up. When looking for a truck financing company, be sure to look their business up on the internet. Visit sites like Better Business Bureau, Yelp, go through blogs and forum or simply Google them. If they deliver results people are bound to share their success stories. If they don’t, people will be even more vocal about it. This eliminates the risk of signing a bad deal that could cost you your dream.

If you are looking for a quality truck funding partner contact Go Capital at:

2485 McCabe Way, Irvine, CA 92614, USA

855-396-3600

Types of Funeral Insurance: A Brief Comparison

A majority of people are unaware of the fact that they can also cover expenses for their burial in advance, just like a life insurance policy. After the death of a person, the family has to deal with financial issues along with emotional problems. Planning for your funeral beforehand can help you ensure that your family stays away from monetary difficulties and will be able to put you to rest without having to worry about the expenses of the ceremony. Burial insurance policy is a pre-funded method of arranging money sufficient to pay off post-death expenses.

On the basis of payment plans, burial insurance can be categorised as the following:

• Level Benefit:

No matter for how many months you have paid the premium, your family will receive full death benefits. You can take the policy only if you are currently within the age bracket of 45 to 89 years. Click here to know more about this and get a policy in your name.

• Graded Benefit:

The Graded Benefit policy is available for people between the age of 45 and 80 years. As per the laws, the company has to make full policy payment in case of accidental death. However, the receiving amount varies in case of non-accidental death. If the person has paid premiums for less than a year, the family will receive only 40% payment. If the person dies during the second year of taking insurance policy, the beneficiaries can claim up to 75% of policy. After two years of paying premiums, the family will be subjected to full payment.

• Modified Benefit:

You can get a Modified Benefit policy in your name only if you turned 45 to 75 years old on your last birthday. If the person dies naturally during the first or second year of paying premium, their family will get 110% of the premium paid. The payment will be 100% if the person has paid for three or more years. However, the family will be entitled to a full fund in case of the accidental death of the person.

When you get insurance, whether life or burial, you have to name your beneficiaries who will claim for funds after your death and receive funds as per the terms and conditions of the policy you chose. On the basis of beneficiaries, the burial insurance policy can be classified into following three types.

Family Members:

Many people choose life insurance policy so that their family can pay off expenses after their death. However, the insurance company takes some time to settle the payment. On the other hand, beneficiaries can claim the burial insurance policy immediately. You can entitle any family member to receive funds after your death.

Funeral Director:

It is not necessary to name a family member as beneficiary for burial insurance. You can contact a funeral home and sign a contract with them to arrange your funeral. They will make arrangements for burial on their own, but you will have to name the home director as beneficiary.

Funeral Home:

You do not need to specify a person as the beneficiary of your burial policy. You can name a funeral home as the beneficiary for the policy. The funeral home makes necessary arrangements for grave, burial plot, funeral cars and cremation. For such beneficiaries, get a policy that does not come with specifications on the usage of funds.

Property Profit Priorities: The Stuff You Need To Know To Make Money In Real Estate

Many people think they can turn a profit in the property market, but the reality is often quite different. In fact, to make money off real estate, you need to know the market well and make wise choices that will maximize your return and minimize any financial outlays that you have to make. To find out more about this, keep reading.

Purchase price

Obviously, the cost of the property is going to be critical to whether or not you can make a profit on it. It may seem that the lower the asking price, the more potential for profit, but is this always true? Unfortunately, this isn't always the case, because not all houses are created equal, and often time you get what you pay for. That means if a property is price seems too good to be true, it probably is. 

To establish the condition of the property and its potential for profit, it can be helpful to get a thorough survey of the building and land beforehand. Assessing any possible dangers and risk including how well the market is doing. Something you can read more about at https://tradingeconomics.com/indonesia. As well as the cost of bringing it up to spec for human use, habitation, or resale. 

In particular, this is a good thing to bear in mind, if you are tempted to buy a building at auction, having only looked at it briefly. As you really don't know that such property will be a good investment for your money. It could have all sorts of unseen problems that may cost you more than the current value of the home to repair. Of course, even this doesn't mean that you can't turn a profit once you sell it. It just means that you will have to outlay more money in getting to that point. It will probably take longer too. However, profitability in property comes down to the basic equation of how much you can sell it for, minus how much you paid for it, plus how much you spent on renovating it. If the figures work out, and you have the money to invest, then it may well be something that is worth doing. 

Location, location, location

The whereabouts of the property you are purchasing is something that has a huge impact on how profitable a sale or even a lease could be in the future as well. This is because there are some places that are just more desirable than others.

The most desirable places often include central city locations, such as the examples at http://www.globalindonesianvoices.com/13311. Remember it matters whether the property you are considering is close to public transport or major airports, as this will appeal to people for which traveling and commuting is a priority. Larger homes, decorated to a high standard and equipped with modern facilities in small picturesque villages are also a good choice. As buyers looking to step out of the city rat race will find them attractive. Buildings in vacations spots can also prove to be very profitable as they are usually at a premium, making renting or reselling them if you have bought them for the right price a real possibility. Commercial buildings in popular urban locations are also a good bet. Although they are often sidelined by property investors as they feel safer in the residential market. Something a little research at sites like http://www.gbgindonesia.com/en can remedy. Just remember though, a good location can make a less than perfect building pretty desirable, and that means you can price and profit from it accordingly.

Investing overseas

Investing in property overseas can be an excellent choice, but you do need to know what you are doing, to avoid certain pitfalls that could seriously eat into any profits.

First, you need to find a residential or commercial property that is suitable for your budget. It's best to do this online at sites like http://rumahdijual.com/kios-dijual in the first instance. As this allows you to first identify whether there is anything in the areas in which you are looking before you shell out on flights and travel expenses to go and see it yourself. 

You also need to be totally up to speed with the laws of the land. Especially those regarding money and property and how they will affect your purchase. Don't just assume that buying property works the same as it does in your home country. There are many variations and specialist provisions that are dependent on locations all around all the world. That is why it can be advantageous to employ a solicitor like http://www.lekslawyer.com/ to help you negotiate your contract and translate any legalese from one language into another. As this will ensure that no large errors in communication occur that will cost you dearly later on.

Something else that you need to be aware of is the exact price converted from the local currency to your own. Prices can seem like a bargain if you are using general figures and rounding up and down. However what you pay will be dependent on the exchange rate on the actual day the purchase is put through. So it's worth checking this out beforehand to avoid any unexpected surprises.

Sell or lease

A big question for a lot of property investors is whether to sell the building they have just bought, or hold onto it and lease it out. Making this decision isn't always easy, as it's often a case of measuring short term profit against a long term gain. However, as a general rule if the sale market is strong in the area that you have bought, then it's definitely worth getting a few independent valuations and seeing how much you could make. 

Just remember to temper these with some lease estimates as well, and familiarize yourself with the demands of being a landlord, something you can read more about at https://id.pinterest.com/pin/. As it may be more valuable to hang on the to building for five or even ten years and collect monthly payments. All the time paying off the mortgage. So when you do sell, it will be for a larger share of the profit at the end. 

Of course, your own financial situation will also play into this as well. If you are looking for a quick cash injection so you can go on and buy and renovate other properties, then to sell once you have finished your first one may be a better option. 

Renovating and flipping 

If you do choose to go for the sell option on your property, you will need to know a few things to ensure that you keep in budget. After all, the smaller your spend, the bigger your profit when you do make that sale. 

Above all else remember that this building is a business investment. It's not a pet project for you to show how good you are at interior design, or what your own personal taste level is. In fact, the less personality you put into the renovation, the better. You may even choose a site manager or architect like http://architect.imagebali.com/article make these designs for you. A lot of folks do find this shocking to start with. As that is the bit, they are looking forward to the most. If that's you then you need to consider very carefully whether investing in property of the right way to use your money. 

Remember there is a huge difference between identifying the standard of fixtures and fitting that need to be installed and picking out all the wall colors and curtain fabrics to your own personal taste. The first will ensure that your building is of the correct standard for the people you are hoping to sell too. The second will cost you more money and time than you need to invest and ultimately eat into your profits. So, if you have designs on becoming an interior designer work on your own home, or have a separate project. As to make a profit in the property game its has to all be strictly business.

Four Fundamentals That Make Fiats The Fitting Choice

Do you prefer a Fiat over a Ferrari? You must be mad! Ferraris are quick, powerful, and easy to the eye. Fiats, on the other hand, can’t hold a candle to the king of Italian automobiles. Or can they? A supercar is a great option, but it isn’t realistic. It is too expensive, not practical, and ostentatious. As a regular, run of the mill motor, supercars don’t compare. Yep, it’s hard to believe, but a Fiat has a lot more to offer in the functionality stakes. And, as an everyday person, that is what you need the most.

Here are more basic features which make a Fiat a fitting choice.

Compact With Plenty Of Room

The title sounds like a contradiction, but Fiat cars have a way of being small with plenty of space. Take the Fiat 500. On the outside, it is tiny and fits into almost any parking space. But, the interior is well spaced, and there is plenty of junk in the trunk. The 500 even has a high ground clearance. The benefits of this are obvious, from comfort to spending less on fuel thanks to the 1.2lt engine. Drivers think they need plenty of room, yet the reality is different.

Affordable Sports Car

Forget about the price for a moment because every manufacturer has affordable models. What they don’t have, though, are cheap sports cars. In essence, this is what a Fiat 500 is. For instance, the Twin Air Lounge version can reach 60 mph in 10 seconds. A BMW 1 Series does it in just under 9. Then, there is the cost. On average, Fiats come well under $15,000 compared to “luxury” cars with similar specifications. No wonder the Cars and Co new Fiat deals are flying off the e-shelves. When it comes to price, Fiat has some of the best deals on the market. 

Safety Rating

A 3-star Whatcar? safety rating is nothing to ignore. Yes, there are safer cars, but you can’t have everything in life. If you want to be as secure as possible, a Volvo is the best choice. However, if you want style and substance, Fiat has lots of motors which fit the bill. And, it is important to point out that the NCAP gave the 500 a five-star rating. By the way, the NCAP is the regulatory body for car safety in Europe. With airbags, knee bags, stability control, it’s as safe as a row of houses.

The Style

The automotive industry goes through phases, and the current one is regurgitation. Quite simply, manufacturers copy the trends which work to sell more units. Fiat doesn’t follow this rule as the 500 model shows. Style wise, it is unique as it evokes memories of the late 1950s and early 60s. Indeed, psychedelic is an excellent word to describe a variety of Fiats. What this means is that you will never be a sheep in the herd. Instead, you’ll stand out from the crowd. 

The choice is yours, but Fiats are back with a vengeance and well worth considering.

The Basics Of Small Business Health Insurance Options

Running a small business is more than just about profit margins and expanding when the time is right. It's also about cultivating a community feel for your business. For those who hold their small business in high esteem, sending out the right messages to potential new recruits can be the thing that makes or breaks you. It’s nice to know for people looking inward, that they will be looked after if they choose to dedicate a portion of their life to your business should they come to work for you. The question for bosses is, what kind of health insurance is the best option. Getting a broad blanket, ‘one size fits all’ kind of policy won’t work because the specific needs of your business need to be catered. On top of this, a broad health insurance plan is far too expensive for a small business. You need to find the best package which will mix and match, the needs of your employees in correlation to the demands you ask of them.

Covering multiple areas

The group plan is generally seen as the most attractive to business owners because it will settle on the structure of your network such as the preferred provider organization. However, you may also opt for the health maintenance organization. The former will give your employees greater options for different types of care, such as physicians and chiropractors but will cost more. It might also depend on the specialities or basic bonuses you want to give your employees. For example, you could give your employees, free eye or hearing check-ups which may result in certain staff needing the right kind of equipment to work at a high level. This is the kind of reason it may be better if you decide to get group vision insurance. It’an affordable, with the ability to give your employees contacts or glasses if they prefer. Doctor checkups are also included as part of the vision insurance.

Setting aside profits

One way or another, you must be able to be financially in charge of your employee’s benefits when it comes to paying for health insurance. Many young and inexperienced entrepreneurs are just entering into a position where they may be accountable for the healthy and safety of their own workers. First and foremost calculate the total cost for an individual's insurance plan, with regards to the kind of business setup you have. For example, if you have a business that requires its employees to do manual labor or some kind of potential physical activity such as climbing up and down stairs a lot of time during the day, you’ll be in a different tier group. There are many things to consider, such as the premiums that will cost the employee, the subsidy you’ll want to get from the government for taking on employees as a startup and if employees are willing to use their own plan instead of palming the burden onto you. The right amount of profits need to be set aside to be able to cater to these conundrums. 

First, you need to set aside the right kind amount of revenue to make sure you’re able to fund a company program regarding insurance plans. You could then opt for some basic plans that cover a lot of areas or just some but do so very affordably.

Spotting Real Opportunity For Real Estate Riches

Investing in any kind of market is about being eagle-eyed, more than it’s about developing any particular kind of smarts. No method is going to work 100% of the time. Rather, it’s about knowing what to do with the opportunities you have and knowing which opportunities are worth pouncing on. Here, we’re going to look at the opportunistic investor’s guide to reaping riches in real estate.

Appeal that never goes away

There are, of course, some markets that tend to always be particularly profitable. Luxury properties are one example of that. Areas of great beauty, like lakefront or beachfront areas, make for great investment potential, too. If you can find land for sale in areas like those with the chance to develop your own property on them, you can stand to make a lot of money. It’s all about getting to know the area, who it appeals to, what kind of community it might be joining, and developing or buying the property to match the area’s appeal.

Finding hidden potential

Then, of course, there are the properties that could use a lot of love. Fixer-uppers aren’t easy investments. Most people hesitate to buy them because most buyers are homeowners who might not want to spend that much time working on their home. Otherwise, profiting with fixer-uppers is about being smart. Have a professional take a look before you buy so you know how extensive and expensive your work might be. If it’s in the right location, it might be ready for a transformation into a more up-market property. If it’s an older home, then it will have plenty of appeal precisely because of that. It’s about doing the math and seeing how the work you do on it subtracts from the profit potential.

An eye on the long-term

Location is important, of course. The most profitable locations aren’t necessarily luxury neighborhoods, however, but rather they might be growth areas. There are a few signs that an area is on its way up. Newly opened restaurants and delicatessens. A lowering age demographic in an area. New amenities or workplaces opening in the area. The sooner you start to get a reliable sense that an area is improving, you want to snap on it. Sooner or later, others are going to notice. When they do, asking prices will raise and potential profits will drop.

Knowing what to do with it

Of course, knowing an opportunity is all about know what to do with it. The tips above might seem like they’ve been focused primarily on selling, but sometimes turning a property into a rental cash cow might be a better idea. Rental vacation properties in popular areas are always in demand, for instance. Areas that are particularly attractive to students or young professionals can also yield some high rent returns.

It’s hard to be flexible in a market that can move as slowly as real estate. But with the tips above, you will have a much better chance of spotting the opportunities that work for you now.

Beyond The Basic Real Estate Investment

First and foremost, it’s probably important to discuss what “basic” means in this context.

A basic real estate investment would be a property that is replicated throughout the country. The serviced condo; the detached family home; the city apartment designed for young professionals. The kind of investments that you can find in any state, perhaps even any country in the world. 

These basics keep the real estate market afloat. They’re not bad investments, but they do have one substantial drawback: there’s just so many of them. 

Competition In Real Estate

Whether you’re investing to then sell on or you want to find a tenant, one of the aspects of the process you’ve got no choice but to deal with is competition. The first form of competition comes from a natural source; regular folk who are buying and selling their homes as part of the normal life process. There’s not much you can do about these people, so they should be discounted when it comes to figuring your investment plan.

The competition from the second group, however, is much in need of consideration. This is the competition from other real estate investors and developers; your direct competitors for both buyers and potential tenants.

The “basics” remains very popular with the second group, your direct competition. There’s a very simple reason for that; they might not be exciting properties, but they are easy. These are the times of homes that will always eventually be able to find a buyer or a tenant, so they’re a more surefire bet. That means if you choose to invest in these properties also, then you’re going to be aiming for a slice of the market that’s already very well catered to.

When To Break Outside Of The Basics 

If you break outside of the basic kind of investment properties, yes, there is a risk involved. It means that you’re going to be lowering the number of people that might potentially be interested in the kind of property you have chosen. 

However, the number of potential buyers and tenants might be reduced - but it’s still higher when compared with the saturated of the “basic” market. So if you choose to invest in unique and interesting real estate, such as properties that are at height or have an unusual layout, then you’re still going to be able to find buyers. There might not be as many at first glance, but for the buyers that do want something different, their choice of properties is much slimmer. The math adds up - and it’s in your favor.

The Extra Bonus 

Finally, when considering breaking the mold and opting for something different and unusual in terms of your real estate investment, it’s important to remember the financial aspect. If a buyer wants something more unique, they are probably well aware they will need to pay a premium for it. That means your profit margin will be higher when it comes to sell. 

So do you think you might be tempted to a non-conventional property investment?

Making Money from Your Clutter

You might feel like the clutter you’ve accumulated over the years is wearing you down, making your home look like a mess and costing you time and money to maintain it, but there is another way of looking at things. That clutter could actually make you money.

That old saying that one man’s trash is another man’s treasure may actually be true for you! Here are just some of the ways you could use your clutter to boost your bank balance:

Sell it on Craigslist Craigslist

is a fantastic platform for selling the stuff you’ve accumulated. So much of the storage near me isn’t being used to store things people use regularly, but don’t have room for at home like hobby equipment, but it is being used to store perfectly good items that they probably don’t intend to use ever again. Those things, providing they are in decent condition, could be places on Craigslist and sold for cold hard cash within the hour!

eBay

eBay is another great place to make money from your clutter, particularly if you’ve been holding onto old antiques, pop culture items like retro games, consoles and DVDs or baby clothes. It takes a matter of minutes to set up and post your unwanted items for sale, and because they’re being seen by an extremely wide audience, you can get surprisingly high prices for them.

Rent It

If you have a lot of clutter that is actually pretty useful, such as furniture, kitchen appliances and tools, you could use the sharing economy to rent your unloved items out to people in your neighborhood. Sometimes, people just need the use of an electric drill or a food processor for a short amount of time, and they’re often willing to pay well for that privilege, which means you can get rid of that clutter at least for a while, and make a pretty penny from it too. 

Yard Sales

Yard sales might be a little quaint in the internet age, but if it’s quick money you’re looking for, you really can’t beat them. If you have a lot of stuff, even selling everything for 50 cents or one dollar should net you a tidy profit and take the hassle out of having to haggle with ev everyone who stops by.

Upcycle It

Old clothing and furniture might not look like much, and you might not be able to make much money selling it as is, but if you have any arts and crafts skills whatsoever, you could take that junk, upcycle it and turn it into a one of a kind piece that could sell for hundreds at craft fairs or on Etsy or even to a private buyer. You could even make a side business out of upcycling old junk!

As you can see, there are numerous ways you can use your clutter to your advantage. There is no need to leave it languishing in your home, where it makes a mess and increases your cleaning chores exponentially when it could be contributing to a bigger bank balance.

The Economic Cost Of Brexit

Loans are a part of almost everyone’s life; we need them to buy houses, buy cars, and start businesses. In the immediate aftermath of the narrow Brexit vote, the pound sterling dropped to a 31 year low, and in March 2017 Deutsche Bank warned that it could still drop by a further 15 percent by the end of this year. Understandably, many were left wondering how this result would continue to affect their mortgages, savings, and the economy in general. 

America also had a vested interest in the referendum result, as most big US companies use their trade deals with the UK as a door to trade with the rest of Europe. Even though Prime Minister Theresa May and President Donald Trump have talked about negotiating a new trade deal that benefits both countries, big companies and banks are looking to establish footholds in Europe so they can stay in the EU market. It may be good for their business, but companies like Rolls Royce and JPMorgan warned that the migration of banks and big companies from the UK to Europe would lead to increased unemployment in Britain, pushing the country into a recession and taking America down with them. 

Lloyd’s bank, one of the biggest mortgage lenders in the UK, was brought back into full private ownership in May 2017, yet they have also established a foothold in Berlin so they can continue to work in the European market. CEO Antonio Osorio has acknowledged the new set of challenges posed by Brexit for financial services but remains reassured by the robustness of the UK economy.

He said: “Low unemployment, higher house prices and reduced levels of household and corporate indebtedness mean the UK enters this period from a position of strength. But clearly, the shorter the period of uncertainty regarding the UK’s future relationship with the EU, the better. Businesses need certainty about the legal and regulatory environment in which they will be operating, so they can plan accordingly and make investment decisions.”

Although financial markets have since recovered, stocks and global growth prospects could fall again if the markets see too many economic downsides from Brexit. The London banking industry is heavily dependent on Europe, and there are genuine fears that a bad deal would see it sink. In August 2017, the pound sterling fell yet again to an eight-year low against the euro - analysts have said that sterling could fall to parity against the European single currency if the likelihood of a bad Brexit deal increases.

Banks might still be committed to doing the best for their customers, but the average borrower does wonder how their savings and line of credit might change when their bank has a foothold in a different country. Rolls Royce and JPMorgan have warned that moving businesses from the UK to Europe could lead to increased unemployment in Britain, pushing the country into a recession. Either way, the uncertainty itself could stagnate the economy, with people too afraid to sell houses, or start businesses.

Could Investing in Bricks and Mortar Mean Financial Freedom For You?

When it comes to property, it’s almost always a good investment. There might be rises and falls in the market at times, however, unlike cars or other big purchases, property increases in value year on year and is always something that’s in demand. Therefore if you’re looking to make money and increase your wealth, bricks and mortar are a good choice. If you plan on making money with houses, here are a few things to bear in mind.

Find The Best Properties

Whether you plan on renting or selling, you need to find the right properties to maximise your profits. If for example, you’re going to be renting them out, flats and apartments in busy towns and cities always do well. Young professionals who work in the city are always after a place to live with a short commute. If you’re looking to rent to students, then aim to find something that’s within walking distance of a college or university. Houses can be rented by the room which allows you to earn extra. If you’re looking to do luxurious makeovers and sell for a profit, make sure you’re buying real estate in an area that those purchasing luxury homes will actually want to live. It’s not as simple as finding a property that looks ok, it all depends on the type of project you’re going to be working on and the sort of tenants or buyers you’re hoping to appeal to.

Buying and Selling

One obvious way to make money from property is by buying and selling. Here you can buy cheap, renovate and sell for some impressive profits if you know what you’re doing. The main problem with this method is that it takes money to make money. You need money up front for the property and any renovations which not everyone is going to have access to. However, if you have come into some money (perhaps a win or inheritance) have help from a family member or have savings, this is one way to turn a sum of money into a much larger one. It’s crucial you know what you’re doing here, get the help of an expert or at least do as much research as possible. Otherwise, you might end up with a property that’s stuck on the market for months, or one where you’re breaking even or losing money after all of your hard work.

Renting Out Properties

If you don’t want to sell properties for a profit, how about renting them out instead? This will allow you to make money over the long term, as opposed to an instant sum of cash when a property is sold. If you build up an empire of properties over time, you have lots of different rent payments coming in, and it can easily become a prosperous career. Best of all, if you hire an agency to manage them for you, there’s very little hassle to you. No dealing with tenants or chasing up any daily issues, you just have the money landing in your bank each month.

5 Tips for Balancing Business and Personal Finances

When you own a business, you become responsible for the management of both company and personal finances. In the early years, there’s a risk of overextending personal funds to successfully establish your business. It can be tempting to take home a small salary, borrow against your personal credit and work very long hours just to keep the business afloat. According to USA Today, around just 20% of businesses make it past their first year. If you’re lucky enough to be one of the 20% and your business begins to generate regular profits, you might need to resist the urge to lean on your business so that it can support the cost of your personal life. Dipping into financial reserves, that should really be left in your company account to cover future and unexpected business challenges is not a good idea. There are many ways of balancing the scales between business and personal finance needs and these are some of the most effective.

1. Keep saving

Whether just starting out, or with a fairly established business under your belt, it would be foolish to ever stop saving for those rainy days. In your personal life, you never know when you might need to cover unexpected bills for medical treatment, house renovations or car repairs. When it comes to your business, you may need to update equipment, move to a bigger office, make repairs to company buildings or raise staff pay to be in accordance with new wage requirements, for example. Even though taking out a business loan is always a valid option as a way of dealing with unforeseen expenses, it makes sense to have a savings fund to dip into when the need arises.

2. Maintain business and personal funds separate

It’s much easier and safer to keep business and personal funds completely separate. As well as improving the credibility of your business, this simple measure also protects you from becoming personally liable for any kind of problem that occurs as a result of your business in the future. You’ll need to organize your finances so that you have separate bank accounts, separate bill payments and separate taxes.

3. Spend less than what comes in

It requires a conscious, continual effort to keep both personal and business expenses below income. The gist of Parkinson’s Law is that however much you earn (or make), your expenses will increase to match the amount of money coming in. This means that the more we earn, the more we will spend; the more money our businesses make, the more expenses we’ll find to drain ourselves of that income.

The only solution is to actively keep expenditure in line, which can be a little more complicated when running a business; mainly because monthly income tends to be less consistent than that of a contracted employee. The key lies in being prepared and in knowing where you can make cutbacks each month to keep things in check should the need arise.

4. Pay bills automatically

By setting up automatic payments for both personal and business needs, you give yourself one less thing to worry about on a monthly basis. Administrative tasks can really drain the time you have for other more important work or time that you want to devote to family and friends. Automatic payments also remove the risk of having to cover the cost of late payment fees.

5. Get professional tax advice

Tax regulations are prone to change, which means it can be difficult to keep fully on top of all developments affecting your personal income and business taxes. Anyone managing their own business should seek out the professional advice and support of a tax advisor. Apart from helping you to keep your taxes in order, a tax advisor can also offer invaluable information of new tax savings opportunities, as and when they come into action. You’ll be able to find out what kind of deductions you can claim for home office equipment and services, employees against contractors and business expenses.

Things to Remember When Applying for a Line of Credit

A line of credit also known as revolving credit boasts features of loans along with credit cards wherein you can borrow an amount and instead of making timely rigid payments, you can flexibly refill the credit limit. A line of credit helps a borrower to access funds anytime. Regardless of whether he needs it or not, he can still enjoy steady cash inflow with a line of credit. However, it is important to know that a borrower must not exceed the maximum limited as decided between him and the lender.

A personal line of credit is provided by various Non-Banking Financial Companies (NBFCs) and other lenders. A personal line of credit helps the borrower to manage finances more effectively. However, when it comes to applying for a line of credit, several things must be kept in mind:

Eligibility and Documents: When vying to apply for a line of credit, it is essential that you check for eligibility and documents. The eligibility criteria differ from lender to lender and thus, it is necessary to understand it before taking a plunge. The majority of the Non-Banking Financial Companies (NBFCs) require you to meet certain criteria:

● Indian resident 

● 25 years or above

● Work experience of 3+ years

Furthermore, if you are applying for a personal line of credit in Mumbai, you are required to have a monthly salary of INR 40,000. However, in cities such as Jaipur, you need a minimum salary of INR 35,000. Thus, you must check minimum salary requirement before approaching a financial institution.

Credit Score: Regardless of the loan type, a credit score is what matters the most. It is an instrument through which financial institutions determine your financial capabilities. A good credit score can help you avail a personal line of credit with a higher limit. Furthermore, even the repayment benefits can be provided if you have a noteworthy financial credibility. 

Thorough Research: Before you apply for a personal line of credit, it is essential that you conduct a thorough research. Do not fall for new banks providing a higher rate of interest. Take all the stability related aspects into account especially the ratings. There are highly certified NBFCs which offer better financial options than others, do not be hesitant in approaching them. 

Avoid Maxing Out the Credit Card: When focusing on the line of credit, it is essential that other things be in place. If you own a credit card, it is essential that you keep it up to date. Do not exhaust it and make sure you repay on time. Your credit card standing will considerably help your line of credit standing. Thus, make sure you do not overuse the credit card and keep it for dire needs.

Start Small: When it comes to taking a personal line of credit, it is important that you do not go over the top. Keep the financial urges small and to the point. Utilise optimally and only if it is necessary. The best part about the personal line of credit is that you pay interest only on the amount that you use and not the entire sum. 

Lastly, have all the required documents in hand so you can access them on the go. Be clear about why you are borrowing and how you will utilise it. Approach the right lender and refill the credit promptly. These are a few things that you must take care of apart from the points above.

Top 5 Common Causes of Debt

Getting into debt is an issue that has the potential to affect all different kinds of people in varying walks of life. If you have already experienced this personally, you will already know what a potentially damaging experience this can be. Of course, there are a number of different ways of dealing with debt, but it also helps if you know some of the most common causes of it so you know whether you are at risk.

Reduced Income

If your income is suddenly reduced but you continue enjoying the same kind of lifestyle, this is an extremely common way of getting into debt. The best way of dealing with this is by adjusting your spending as soon as possible. A good way of doing this is by drawing up a monthly budget so you can see what your money is going on each month. The essentials are what you will want to focus on continuing to pay while it is the nonessential items that you will want to cut back on.

Divorce

With such a high proportion of marriages ending in divorce, this is something which many people don’t want to think about but it is still a possibility. And if it does happen, the results can be financially devastating, especially if the split turns nasty and there is no prior agreement in place. Though the money conversation can be a difficult one to have with someone you care about, it is still worth getting all your cards on the table as early as possible.

Poor Money Management

Often, debt is caused not by a single big event, but by something as simple as poor money management. If you don’t keep track of your finances and rack up costs on credit cards, you are at a much higher risk of getting into serious debt. Credit card debt also has the future effect of damaging your credit score so check out http://fixmy.credit/ if this has happened to you. Financial planning doesn’t have to be complicated - it can be as simple as writing down your expenses and income in two columns and analysing them.

Having No Savings

If you have nothing in the bank, you have no backup plan which can get you through if times get tough. Sometimes, you end up getting hit with unexpected costs that can come from all different areas. So, try to make it a rule that you have at least a couple of month’s salary saved in reserve in the bank just in case you should suddenly need access to the money.

Addiction

Something which can eat money quickly is addiction of any kind and you can quickly find yourself in difficulties. If this is something which you think you are suffering from, you should seek out professional help as soon as possible.

These are just five reasons why debt can strike you as well as a couple of potential ways in which you can react to deal with the issue.

When Creditors Come Knocking, You Need To Have An Answer

We should all be careful about the credit agreements we sign up for and how well we manage debt as to avoid trouble. However, sometimes, we aren’t as forward thinking as we should be. Sometimes, our plans are rendered entirely useless when life throws a curveball that disrupts our finances. In either of those situations, if you fail to keep control of your debt, your creditors are going to start coming. You need to have a response for them.

Don’t hide away

If you’re starting to get letters from your creditor or even threats, then silence is rarely if ever the best course of action. Creditors don’t want to have to chase you just as much as you don’t want to be chased. Often, calling them and letting them know your situation can help. It won’t get you out of the debt, but negotiating with creditors can help you find an agreement that works for both you. The remaining balance might be chopped into smaller installments, the deadline might be extended, interest might be frozen. Many creditors are much more reasonable than you might expect. They want to get their money back and that often means they’re willing to find a compromise. On the other hand, ignore them and they’re more likely to pass off the handling of the debt to a collections agency, which is when you’re beyond all chance of reasoning with them.

Let someone else take care of it

Consolidation is often a very reasonable option, too. It allows you to shift debt to another creditor with different terms. But it has to be used right. You can’t consolidate debt in a way that is only kicking the can further down the road, in a manner of speaking. When consolidating, make sure you’re not lifting an interest cap and costing yourself more in the long run, for instance. Read the terms of the consolidation agreement carefully and make sure they can fit a payment plan that you can stick to.

Wiping the slate

If paying the debt is well and truly beyond your ability, then you might have to think of greater measures. While filing for chapter 7 bankruptcy is never something to be done lightly, it is not the end of the world as some imagine it to be. It is a fairly commonly used tool for when debt grows too large to deal with. In exchange for clearing all debts (except student debt), your valuable assets are seized and used to pay off your creditors as best as they can. Your credit score will also take a considerable hit, but it will recover over time.

The last ditch

Sometimes, you can’t qualify for bankruptcy, however. Even then, you still have options. Namely, through debt settlement. Settlement is highly risky, and all experts agree that bankruptcy is considerably more favorable when it’s available. Settlement involves working with a company to get the bank to agree to accept less than what you owe when you’re falling behind payments. It’s a situation that involves a lot negotiation and waiting while you keep receiving late charges, collections notices and legal threats. It’s not guaranteed to work, either, so it should only ever be considered as an absolute last resort.

There are always options for dealing with debt. Some of them are more painful than others, but any plan of action is much better than waiting and dealing with the stress and anxiety that not addressing the problem can bring.

Replacement Can Cost An Arm And A Leg But Repair Doesn't

A good, long-lasting car will be able to give you the freedom you desire, not just for the first couple of years that you use it, but many many years after the initial break in phase. Replacing some parts of a car is incredibly expensive and can punch a large hole in your finances. Such large payments can disrupt your life immeasurably and put any other obligations you might have in peril. You may also have to put family expenses on hold while you recuperate back up to where you were. It's a very simple regimen to understand, but many people fall short of it, and that’s because regular maintenance and scheduled testing requires consistency. There are no miracle cures to detrimental problems once they are allowed to fester and flourish. Cars are machines and anything that is man made, no matter how advanced can and will break down. Financially, you should be looking at your car as an investment, and upkeep it like you would any other kind.

Shattering glass

Cars have adopted a much more sloped approach to their aerodynamics. Even cars in the affordable price ranges, all now have pointed front designs and smart aero lines down the side to direct airflow away from the car. However, the more sleek and flatter the cars get, the more complex it becomes to design and fit windshields to them. Manufacturers have fully embraced the aftermarket businesses that keep drivers on the road and satisfied with their purchases. Even if you have a stone chip on your windshield, due to the faster-flowing air of aerodynamic designs, it puts slightly more pressure on them. Direct sunlight can also make the glass expand, which in turn, spreads the small crack, making it larger and larger. Coupled with the increase in pressure, at any moment the windshield could shatter or collapse inward while you’re driving. 

To prevent this dangerous event from occurring, seek the services of a professional automotive glass replacement business that can also do repairs. Not only can the strength be restored to the windshield, the repair is instantaneous, with no need to hide from the rain or the sun. You’re able to drive away immediately, and what’s more is, a replacement of the windshield is known to be a very costly purchase. The tempered glass costs more to make, as well as be fitted properly, which will mean your car is out of action, potentially for a couple of hours to a day. Repairing is the financially smart decision to make, so it’s best not to stave it off before it gets worse.

Seized engine

Many people forget or a too lazy to change the oil regularly of their car. The importance of this thick liquid cannot be underestimated as it is the blood that flows around the moving parts, and allows them to move. It also stops parts from grinding against each other from friction, which can damage the cylinders, block, timing belt, crank and drive shafts, as well as flow down through to the clutch. The danger is very real, as a seized engine cannot be saved. This is because the engine will need to be taken apart vigorously at a garage, and the parts will be too damaged to be put back together. Essentially, the engine is useless at that point. A new engine, especially if you have a car of the newer generation, can cost thousands of dollars and sometimes head into the five-figure range. 

It's important to realize that you need a high-quality engine oil, that can flow through the engine in both the extremes of hot and cold. A good oil won’t become too thin during a hot day, and yet it will remain in a liquid form ready for the engine to be started on a freezing cold morning. It's also financially savvy, if you take your engine into a garage, preferably the specialist garage in the brand and model of your car, and go through a port and polish. Aside from the major components, parts of the engine will be taken out, cleaned, smoothed and put back again. Not only will this increase horsepower but also the longevity of the engine.

Replacing an engine or the entire windshield are both very costly things to do, and they take potentially hundreds to thousands of dollars to fix. Repairing any parts you can see are damaged, and doing so, ahead of time before the issue is allowed to spiral out of control, is the financially savvy thing to do. Many drivers push the problem to the back of their mind until suddenly, it comes back to haunt them. Don’t put yourself in a position which gives your short term relief, but long term financial pain.

10 Reasons Why You Should Go For Term Life Insurance

Life insurance coverage is important to ensure financial stability in case of an unfortunate event. Rising premium expenses may prevent you from procuring life coverage. One way to overcome this limitation is to opt for a term plan.

A term plan is a type of life policy that offers death benefits for a certain period of time. If you pass away during the policy term, these benefits are paid to your nominees. Generally, term policies do not provide any benefits in case you survive the insurance duration.

Here are ten reasons why term plans are advantageous

1. Affordability

These plans are the simplest and most affordable types of life insurance coverage. You may choose the sum assured based on the amount of premium you are able to afford. The insurance company determines the death benefits based on your premium amount. These plans are the cheapest way to avail higher coverage without facing any financial difficulties.

2. Tax benefits

In case you pass away during the policy tenure, your nominees are eligible to receive the benefits. Your nominees do not need to pay any taxes on these benefits. This ensures they are able to use the entire lump sum amount to meet their financial needs.

3. In-built guarantee

The term insurance policy document legally binds the insurer to pay the benefits as per the conditions. However, you still have the flexibility to not renew the coverage or modify the policy type without incurring any penalties.

4. Cash leverage

Term policies offer a higher return on premium and give an opportunity to leverage a significant amount over a period of time. The benefits payable are substantially higher than the premium amount.

5. Timely payouts

Claims settlement period for term insurance plans is the shortest among all types of life policies. This is because term policies are simple and there are no disputes about claims since benefits are payable only on your demise during the duration.

6. Survival benefits

Traditionally, term policies offered only death benefits. However, these days, many insurance companies offer survival benefits. This additional rider plays a significant role in the return of the premium paid towards availing of a term policy.

7. Easy accessibility

There are several insurance companies that offer such types of life coverage. This increases the competition and provides easy accessibility when you choose to purchase such a plan.

8. Return on investment

When you buy a term policy, you know the exact benefits available under the plan. This reduces your investment risk and provides transparency, thereby making such policies one of the best options available in India.

9. Health conditions

The insurer will take into consideration your overall health condition to determine the premium amount. However, if your health condition deteriorates after purchasing the plan, it does not affect the policy terms and the premium amount.

The Do and Don’ts of Finding The Financing For a Ferrari

OK, so treating yourself to a luxury sports car like the Ferrari 488 GTB or Spyder might seem a bit over the top. However, if you discovered that it wasn’t so hard to get the money that you needed to own your very own dream ride, might that change your mind? Well, keep reading, and you will find out. 

Do get a loan from an independent provider

Unless you have a sudden windfall or a win on the lotto the luxury car that you have always dreamed of can often seem out of reach. However, there are loan comparison sites out there like auto.loan that can help you. In fact, it's entirely their specialty to find you the best independent loan provider that will suit your particular situation. Whether it's pick up truck or that long awaited Ferrari that you want to buy.

Don't get a loan from the dealership or the bank 

While getting a loan like the one mentioned above is a great idea, it worth stating that loan from banks and dealerships aren't always the best. This because they are open offer at a very high APR. Meaning you can end up paying back a lot more money than the car is worth. Something that even the most decorated Ferrari fans are unlikely to want to do to get their hands on their dream car. 

Do save up the deposit 

Something else that you should consider to help pay for your Ferrari is to take some time before you make your purchase and save up the deposit that is required. On a luxury car like this, it can be a fair amount of money, but the advantage in doing this is that by paying off a full deposit you will have a smaller payment each month to make. Something that can make even buying a high-end sports vehicle that little bit more affordable.

Do look for a second-hand vehicle

Another clever way to find the money for your dream Ferrari is to eschew going for one of the newer models like the 488 GTB and the F12 Berlinetta, read more about this at http://www.caranddriver.com and go for a classic or vintage option instead. That is because second-hand cars are often available at a much lower price than mint condition new ones. Also, the latter often lose a great deal of their value after driving them off of the forecourt, it can really make financial sense to go for an older model, both from a financing and reseal point of view.

Don’t buy a restoration project

However, with that being said, it's never a good idea to buy a high-end car like a Ferrari as a restoration project just because the price is more affordable and you can get the funding. As restoring classic and luxury cars takes time, patience, expertise, and usually even more funds. In fact, it's much more likely that the thing will end up living n your drive and you will never get to go out on the road with it. Something that is surely one of the key motivations for owning a vehicle like the Ferrari in the first place?