Financial freedom

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It is never too late to start getting clever with your money from saving pennies to planning your retirement. The journey to claiming your financial freedom should start now.

Saving

Track every spending and keep every loose penny.

Budgeting

The key is starting with spending plan and self-discipline.

Investing

Make your money work for you until you retire.

Property

Learn how to include properties in your portfolio.

Credit Score

Discover how to keep a healthy credit score.

Insurance

Choose the best buffer to protect you from financial crisis.

Real life strategies

How much you make matters. But how much money you keep matters more. And how much you grow passively matters most.

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Find out how to juggle your finances and be the master of your hard earned cash.

Mortgage loans are one of the loans that involve large amounts being granted to a borrower as it involves the purchase of a property. Therefore, careful planning and management are required before taking on a mortgage loan. Mortgages involve complex schemes and without careful study, a mortgage loan may end up as a debt that would be hard to manage. It is essential that a mortgage loan is properly reviewed and undergoes careful planning to ensure good debt management.

Here are a few things that need to be considered to make sure that a mortgage loan is properly taken care of.

Review your income and expenses

It is important for an individual and a business to identify their financial standing through an income and expense report. This will allow the borrower to identify if the income they receive can cover the current and additional expenses after being granted the loan. The income and expense report will also help you make a decision on the effect the mortgage loan can bring to your future financial stability.

Create a comparison report of mortgage lenders

It is always a good practice to shop for a lender whatever type of loan is being taken. But it is wisest to ensure that you create a comparison list for mortgage lenders. This will allow you to find out which mortgage lenders can provide more benefit and what advantages it can bring you. Identifying the differences among the lenders can also create a leverage for you when you negotiate some of the terms for taking on a mortgage loan.

Review of the amortization payments

It is important that you have reviewed and identified the amortizations that will come forward once a mortgage loan has been made. Amortizations can go on for years regardless of the duration that a borrower is willing to take. Since mortgage loans are long-term loans, it needs to be considered carefully to identify the effects of having this loan in your business or as an individual.

It is always wise to look into some of the details regarding a mortgage loan which can help you assess if you are ready to take on a long-term loan that is also large in amount.

Where to Invest Your Hard-Earned Money?

Posted by Annie Lee on March 22, 2018
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Category: Personal Finance
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Investing money is a way for individuals to save toward their goals, whether it be retirement, a child’s college education, or some other financial goal. New investors need to take the time to determine their goals and learn some basic concepts of investing before jumping right into making an investment. Successful investing takes much research, time, and patience. As a beginner starts by being successful in making money through investments.

How much money do I need to make an investment? One common misconception by beginners is that they must have a large sum of money to make an investment. The truth is, many investments can be made for as little as hundred or perhaps a few thousand dollars. One way to begin investing small is through dividend reinvestment plans or direct stock purchase options. Investors may be able to invest in a company’s stock options by paying a minimal start-up fee, often as little as $25 or $50 and making an initial investment. Once the money begins adding up, it can then be transferred to a brokerage account, where the investor will be able to begin investing larger sums of money.

What are the different types of investing? Once investors determine that they have enough money to make an investment, the difficult part is often deciding where to invest their money. There are many different options for investors; some of the most common investment options are mutual funds, bonds, futures, and real estate.

Mutual funds – A way for individuals to invest without having to manage their investment “hands-on” is through investing in mutual funds. Mutual funds are investments that are handled by a fund manager. This fund manager invests the pool of money, contributed to by several individual investors, in the financial marketplace. The funds may be invested through closed or open-ended funds.

Bonds – When investors purchase bonds, they are buying an interest in a company or corporation. The company’s issues bonds, which is a loan from an investor. In turn, the company agrees to pay this investor back at determined intervals with interest. Investing in bonds can be a secure investment. Unless the company goes bankrupt, the investor is almost certain to receive back at least the minimum amount of his investment. These interest payments at set intervals can be a source of steady income for retired couples or others wishing to create a type of investment where they can generate consistent returns.

Real Estate – Real estate can a good investment when the timing is right but often requires a lot of work. Another way of making money is through purchasing properties, improving the properties through repairing them or adding amenities, then selling them at a profit; or renting the houses to tenants and receiving a monthly income from the payments.

What is Credit Analysis

Posted by Annie Lee on March 22, 2018
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Category: Personal Finance

Credit Analysis is a process in which a lender goes through a process of review prior to granting a loan.

A loan application needs to undergo a process to ensure a money lender’s collectability over the borrowed money. The results derived from a credit analysis gives the borrower more credibility to be granted a loan and that the risk of the collection will be probable. Credit Analysis is a much specific process that is applied to Risk Management. It has basically two major categories which are Financial Credit Analysis and Non-Financial Credit Analysis.

Financial Credit Analysis

This area of credit analysis involves the review of a borrower’s financial statements if it is an organization or an asset and income for individuals. It is focused on the monetary value a borrower may allow the lender to have a quantitative basis of granting the borrower a loan. Review of these financials will enable the lender to see how stable the source of income or earnings is for the borrower.

It also provides a security for the lender to be able to collect from the borrower’s asset when sold if the borrower loses the source from which it is earning income from.

Non-Financial Credit Analysis

Not everything is granted with having enough monetary value alone. The area of going through a credit analysis on a non-financial aspect is also important. For working individuals, it is often reviewed that operations will not cease during the quick cash loan period.

This ensures that the salary loan will be paid as it is presumed that income will be sufficient based on a financial credit review. The character is taken into consideration when a non-financial credit analysis is made. An individual who may be liquid and financially capable of paying may still be rejected if there is a bad payment history.

Oftentimes, the non-financial credit analysis done on character and other conditions that may affect the loan is given more bearing since the lender’s intention is to be able to collect with fewer efforts. An individual or company who has a good character background will often find ways and work with the lender when they become illiquid or insolvent.

Advantages of Applying for a Car Loan

Posted by Annie Lee on February 5, 2018
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Category: Car, Loan
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A bpi car loan is a nifty determinant of an improving life status. On the other hand, it can also represent a serious problem if left unmanaged.

Over the past years, lenders have come up of different auto loan programs with hundreds of variations and pricing terms. Nowadays, the ease of getting a sg car loan is magnified by most lenders’ appearance in social media.

Are you planning to have your own car as soon as possible? In that case, applying for a bdo car loan can give you numerous advantages.

Loan Amount and Car Variations

Lenders offer many car variations parallel with the full amount that you have to pay. This gives you a better standpoint and a healthy supply of choices. Some personal loan agreements may stretch for longer months, allowing greater flexibility of payment. Others will give you the option to get the hottest cars on the market, but the payment term is shorter. Feel free to choose the term which works best for you.

Loan Privileges

Aside from the loan itself, you can also gain additional privileges. Most privileges are product tie-ins or better credibility status with the lender. Banks are known for their host of privileges, so they can be relied upon whenever you need an auto loan. Visiting lender websites will give you a limited scope of the perks and privileges that you can get.

Cars from Loans Have Stable Market Values

More often than not, cars tied in with bank loans are tagged with stable market values. The value may not be higher than standard market releases, but they are competitive enough. You just need to remember that cars depreciate in value fast, so you should plan ahead.

Once your auto loan application has been approved, you should start planning for repayment. If you do it right, you can finish the loan on time without penalty fees and stress.

Personal loans are one of the great ways of generating cash for any type of expenditures. Personal loans do not require the proceeds to be spent on a specific type of expenditures. Unlike mortgage or auto loans, a personal loan can be used with any type of expenditures within the borrower’s discretion. Because of the increasing demand on personal loans, it has become one of the most lucrative businesses that seemed to have branched out from banks.

There are now a large number of financial institutions that are not operating as a bank that offers personal loans. These are the institutions a borrower must be careful with. Unfortunately, there are still those who operate a financial institution without the intention of helping but aim to scam clients instead. Here are 5 ways that you can do to steer clear of personal loan scams.

Make sure you are transacting with a legit financial institution. 

Business is required to show their permits to operate a business. You will need to make sure that your lender has the necessary business permits that allow them to transact as a financial institution.

Avoid transacting with “representatives” or “agents” outside the office.

Always make sure that you at least meet your agent or representative in the office. This will give you an idea and allow you to confirm that the agent is indeed connected with the financial institution.

Make sure you confirm the legitimacy of online transactions.

With the technology advancing and branching out to almost every industry, transacting online is becoming more inevitable through the days. It is not bad and should be completely avoided. What you need is to make sure that your online transactions are valid.

Make sure the financial institution has an office location.

In connection with having your transactions online, knowing their office location will allow you a place you can visit in times of problems with your online transaction.

Read reviews and research about the financial institution.

It is very important that you identify the legitimacy of the financial institution or agents you are transacting with. Researching about them will definitely eliminate the risk of getting into a scam.

Personal loans are great ways to increase or generate the cash you may need. It is also the best type of loan that will allow you flexibility and diversity in spending the proceeds. These tips can help you avoid scams and maximizing the benefit of getting a personal loan.

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