Personal Finance Professional Orem UT The U.S. Commodity Futures Trading Commission (CFTC) announced today that it will publish in the Federal Register proposed amendments to CFTC regulation 3.3. Source link Tags: ... Tags:
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Waiters and bartenders may find that they have a particularly hard time when it comes to saving money. After all, it seems that cash-in-hand (or wallet) is spent faster than cash in the bank and waiters and bartenders receive a large percentage of their salary as cash tips. How then can waiters and bartenders learn to save money? Saving money requires discipline, no matter what your occupation. However, these few tips for waiters and bartenders to save money should help put you on the right path. Stop at the bank on your way home. The wisest thing to do is to get rid of that cash that's burning a hole in your pocket and put it into the bank where you are less likely to spend it and it can earn a bit of interest. If possible, try to select a bank that is on your way home to make this process easier. If you have to go out of your way, you're less likely to do it. Put it in a locked piggybank. Of course, you'll need to be able to get your money out sometime, but you also want to make it difficult to spend. Create a piggybank that's hard to open. For example, you may want to take an old shoebox, cut a small slit in it, and wrap it in duct tape. This way, it's easy to get your money in, but hard to get it out. When the box feels heavy, take it to the bank and deposit it all at once. Use the envelope method. This works particularly well due to the amount of cash that waiters and bartenders tend to carry. Create a monthly budget for the different things that you need rent or mortgage, utilities, entertainment, savings, and so on. Give each category an envelope and put your money into each envelope when you come home. You can only use the money in the envelope for its intended purpose. Eat at your restaurant. Besides saving the cash that they get in tips, waiters and bartenders can often save money when they eat at the restaurant they work at. Restaurants typically offer employees a discount on purchases. Since food is a big expense for most people, this discount can quickly add up. If your food options get boring after awhile, try trading with a worker at another restaurant. Source by Shannon Tani Retirement Services Livernois Rd., Troy, MI 48084 WASHINGTON, D.C. styles for commemorative coins honoring the 100th anniversary associated with the founding of Lions Clubs Overseas had been revealed today during the business's 99th annual meeting in Fukuoka, Japan. Resource website link Tags: steve azoury,life insurance,annuities,investment,insurance,financial planning,steven azoury,northwestern mutual financial network,financial advisors,azouy financial,investment services... Tags: steve azoury,life insurance,annuities,investment,insurance,financial planning,steven azoury,northwestern mutual financial network,financial advisors,azouy financial,investment services I've known a lot of people who have lost money when they sold their homes. In fact, I'm one of those people, and it's happened to me more than once. There are a number of factors can cause a financial loss when you sell your house, including the need to sell at the wrong time due to divorce or an impending foreclosure, or a downturn in the local real estate market. However, it's also common to lose money simply by making too many expensive changes to the house before putting it on the market. This is how I lost money on real estate, before I wised up. My most resounding failure in the fix it and flip it market was a house I bought in Spokane, Washington. Knowing what I know now, I would have restricted myself to replacing the carpets and the kitchen and bathroom fixtures, painting inside and out, and buying new appliances. I probably would have replaced the old-style windows, too, to make the place look nicer and appeal to the energy-conscious buyer. These fixes could have been done easily within the two years I needed to live there to avoid capital gains taxes. Since I didn't know what I know now, I made major renovations, which included moving the bathroom. I did most of the work myself, but the materials alone cost more than I could get back when the house was sold. With the exception of repairs done to the house to make it eligible for an FHA loan and watering the grass, I doubt that any of my major projects really helped me sell the house or increased its value. If a house is actually sound, with no structural damage or insect problems, the biggest reason it will sell for less than its worth is usually cosmetic. This was certainly true of the house I bought in Spokane. Dirty carpeting, and a wall in the living room covered with mirror tiles, kept most buyers from going any further into the house. I could see past the cosmetic problems and see the home's full potential but my imagination went a bit too far. The floor plan was odd, and slightly inconvenient, but leaving the bathroom where it was would have been far more rational, financially. Why didn't I do that? Because my emotions and my nesting instincts took over, pushing aside all thought of future gain or loss. Let's face it most people don't buy their own homes with the intention of making a profit, although they certainly hope the house will be a good investment. In fact, the emotional stress caused by the process of buying a house and moving into it can be enough to completely erase any thought of moving again a few years later. However, I know several families who have made a very good living by buying underpriced homes, living in them and fixing them up, and then selling them when the IRS will allow them to do so without paying extra taxes. Clearly, these folks don't make any changes to these houses without carefully considering the bottom line. After my Spokane adventure, I decided to learn from my mistakes, and find out how to stop losing money on houses. I read books by authors who are experienced in fixing and flipping houses and then read them again. When I saw that most remodeling projects almost never recoup their costs when the house is sold, I was a little shocked, because I had been guilty of almost every mistake on the list at one time or another. I know many people who have also made the same mistakes, even when they started those remodeling projects with the intention of increasing the value of their homes. When I bought my next house, I kept that list very firmly in mind. For instance, my kitchen was badly in need of a major overhaul, (or so I believed), and it was far too small. I pored over the latest home decorating magazines, and ideas came flooding into my head. I thought about knocking out some walls, and I even tried to imagine adding on to the house to make the kitchen bigger. New cabinets would be needed, and new appliances In the end I painted the kitchen cabinets and replaced the sink with a new one I purchased at Ikea. I covered the chipped orange Formica counters with printed cotton fabric, and coated it with many layers of water-based Verathane that was intended to protect wood floors. The complete remodel cost less than $400, as opposed to the thousands of dollars that I would have spent if I followed through on my idle dreams of a perfect kitchen. Since the house sold at a very good price within two weeks of listing it, my buyer obviously didn't mind that the kitchen didn't meet my idea of perfect. Because I kept my costs down, I made a handy profit on the sale. Would I have been able to sell the house for more money if the kitchen had been remodeled and expanded? Perhaps, but not enough to cover the cost of the remodel. Although the National Association of Realtors lists a kitchen remodel as one of the projects that will increase a house the most, they still advise that you should expect to get back only 80% of the costs. If your new kitchen is far fancier, bigger, and more expensive than any other kitchen in the neighborhood, the returns will be even less. A full kitchen remodel can cost thousands of dollars, so the 20% you don't get back can be a big chunk of change. Does this mean that you shouldn't make changes to your home that would make you happy? Not at all, especially if you intend to live there for many years. But it does pay to sit down with your spouse or partner before you start making your remodeling plans, determine exactly how long you'll be staying in the home, and then think about the full financial implications of the remodeling project. Even if you don't think of yourself as a professional house flipper, it might pay to slow down a bit and find ways to improve the home without spending money you'll never see again. As a bonus, your family might be able to avoid the stress and disruption of all that remodeling mess. Source by Jonni Good Tags: growth,business,wyandotte,average annual,wealth management,safe haven,brian teets,financial services,investments insurance,insurance retirement,financial planning,wealth accumulation,safe haven wealth management,investments,retirement planning With the current shake http://www.blackplanet.com/your_page/blog/view_posting.html?pid=6880718&profile_id=65920917&profile_name=andrew17t&user_id=65920917&username=andrew17t the economy and the financial industry, banks and credit unions are looking for more approaches to boost their particular revenue. The latest practices include dangling to your hard earned money for extended periods (the float), increased fees for overdrafts, and automatic increases towards interest levels whenever they can. My own credit union is not any exclusion. I realized that these are typically waiting through to the end of this time to credit deposits to my account, but are much faster to just take cash out of the account. Another way my credit union works to boost their particular float is in the question of the length of time it may need to credit a check. Recently I started a transfer from my secondary bank to my credit union to cover some expenses. This can be accomplished through an internet check, that I am certain that you all used before. The shock this time is that my credit union has an insurance policy, unidentified if you ask me, of placing a five-day hang on deposits over $2500.00. This considerably boosts the float time and might seriously inconvenience you. Note that our company is maybe not referring to a personal check that might or may possibly not have resources; this is a check from another bank. But the credit union or bank even offers the discretion to discharge the resources, if expected in the correct fashion. Here you will find the tips I used to solve the matter and acquire my deposit credited without waiting. 1. I prepared for the telephone call by having my account information before myself. This included being logged directly into my credit union's on line site. I also had my Quicken software available so i really could search earlier transactions. I understood i would be on hold for some time, therefore I blocked out the full time to the office on this and create to use my wireless headset therefore I can use the computer and write once we talked. 2. I called the credit union's toll-free quantity and verified my account by giving information that is personal. 3. I asked why while i really could see a deposit from my secondary bank to my credit union account, the amount of money had not been shown in the total Available column. Note that getting annoyed at this time will not assist your situation; you need to have the mindset when trying to resolve a challenge together. The broker put myself on hold while he did some research and finally returned and stated, Our plan will be put a five time hang on all inspections over $2500.00. Your check should clear in four more times. 4. This is the point in which you should require their particular assistance obtaining the resources. I stated, i am aware that plan, but this is certainly a check from another bank, maybe not a personal check. Kindly check always to discover whenever you can have the resources introduced. If not, please release the resources underneath the $2500.00 limit. This would have offered myself at the least $2499.99 of my cash. I think giving the representative options at this time considerably increased the possibilities for success. 5. The broker stated he would need certainly to pass the demand to a manager for endorsement. He warned myself he would have to put myself on hold and the hold might-be for as long as 10 minutes. This is how being willing to wait helped. I responded, No problem, I appreciate any assistance it is possible to give myself. 6. After about 5 minutes, the supervisor came on line. Again, I had to validate some information that is personal. She after that requested myself the account quantity and contact information of this bank that had granted my check. This is how having all my documents before myself helped. I offered her others bank's phone number, my account quantity, and the granted check quantity. Again, I was put-on hold. 7. The supervisor returned after a few moments and stated she had verified my info using other bank and was assured that my account had sufficient resources to cover the check. She reported that she was approving the deposit and the cash should always be readily available immediately. 8. At this time, every little thing seemed to be total. But I was keeping track of my account on the internet and the resources weren't yet readily available. I explained this towards supervisor. She requested me to recharge my display screen several times, but there is no switch to the total Available column. 9. I asked for that she check up on this for me personally. She needed to put myself on hold once again and requested another supervisor to perform some magic in the background to clear the resources. This time around, after a few refreshes, the Available quantity eventually showed my cash. 10. I managed to get a point to thank everyone included for helping myself. It may maybe not assist (however it undoubtedly can not harm) to be pleasant whenever working with your bank. 11. Last, however minimum, I made an email to never send a look for above $2500.00 to my credit union. Since my secondary bank's on line inspections tend to be free, it might have cost myself absolutely nothing to split the deposit into two inspections, each underneath the required five-day hold limit. The credit union is perfectly in their liberties to place keeps on inspections. The governing regulations regarding check holds tend to be covered in: ROLE 229AVAILABILITY OF RESOURCES AND COLLECTION OF CHECKS (LEGISLATION CC) The entire text of the regulations can be acquired at: http://www.access.gpo.gov/nara/cfr/waisidx_00/12cfr229_00.html Summary: Therefore, the length of time made it happen just take me to fully grasp this accomplished? Time to prepare was 20 moments; time regarding the phone was 30 minutes; complete time was significantly less than an hour or so. It absolutely was well worth the energy whilst enabled me to make timely payments to other accounts. Try out this strategy the very next time you negotiate with your bank or credit union. Origin by Phillip Gabbard Tags: growth,business,wyandotte,average annual,wealth management,safe haven,brian teets,financial services,investments insurance,insurance retirement,financial planning,wealth accumulation,safe haven wealth management,investments,retirement planning Have you wondered how credit card eligibility is determined? Curious whether you're eligible for a credit card? It all has to do with your credit rating and credit score. Here we go with a quick tutorial on what constitutes credit-worthiness and how you can make sure that you are eligible for a credit card when you want one. Credit Reports and Credit Scores When you http://money.usnews.com/money/personal-finance/mutual-funds/articles/2014/11/19/the-real-retirement-crisis credit or have a credit card, the credit card company or store makes periodic reports to one or more credit reporting agencies. Those agencies keep records of your credit history how good you are at paying your bills on time. Among the things that go into your credit history are: 1. How many credit cards you have 2. How much you owe on each one 3. How many loans you've taken out 4. How much you still owe on them 5. Any payments that you've made late 6. Any payments that you've missed 7. If you've ever defaulted on a loan 8. If you've ever filed for bankruptcy 9. If you own a house 10. If there has ever been a judgment against you for unpaid debts Credit reporting agencies assign a 'weight' to each of those facts, and assign points to you based on each of those points. The total of those points is called your 'credit score'. The higher your credit score is, the better your credit is. Some of the things that you lose points on your credit score for are: 1. Having too many credit cards 2. Carrying too much debt on your credit cards 3. Carrying too many loans 4. Making late payments or missing payments 5. Defaulting on a loan 6. Applying for a lot of credit cards in a short time The credit card and credit score give a 'snapshot' of your credit history. Getting a Credit Card When you apply for a credit card, the company that issues the card checks with a credit reporting agency to get your credit report and find out your credit score. Since they're basically lending you money whenever you use your credit card, they want to make sure that you're the kind of person who pays your debts on time. They have an ideal 'snapshot' that they compare your credit report and score with. The closer your credit score is to their ideal, the better your chances of getting a credit card with a great interest rate and good terms. The lower your credit score is, the more a risk you are for the credit card company. Because they take a bigger risk when they lend you money, they charge you more by giving you a higher interest rate. If your credit score is too low, they won't give you a credit card at all. If you have no credit history at all, they also may decide not to give you a credit card, depending on other factors in your credit history. If you're turned down for a credit card.. The credit card company has to tell you the reasons that you were turned down. They also have to tell you which credit reporting agency they got your credit history from. There are three major credit reporting agencies in the country Equifax, Experian and Transunion. The report that the credit card company used to make their decision will be one of those. You have the right to request a copy of the credit report that they used to make your decision. The company that provided the report to the credit agency has to give you a copy free. The credit reporting agency also has to give you a copy of your credit report once every 12 months if you request it. Get your credit report to find out what it says about you and to see how you can improve your credit score so that you won't be turned down next time. You may freely reprint this article provided the author bio and live links are left intact. Tags: You may have heard that you can buy stuff from the government. But how does it work? Can you really get good deals? Source link Tuesday, January 26, 2016, from 9:45 a.m. to 3:45 p.m., the CFTC's Technology Advisory Committee (TAC) will hold a http://www.wsj.com/articles/voices-protecting-retirees-from-sequence-risk-1461240002 the CFTC's Washington, DC headquarters. Source link Tags: Private money investing involves dealing with real estate companies, entertainment, retail and several other businesses. It basically involves two parties: the borrower and the lender. The lender becomes the investor. The borrower receives money based on the value of real estate owned by him. Private individuals, trusts and pension funds can try their luck on private money investing. Substantial knowledge and experience of trust deed investing is required and mostly individual investors are good at it. Everyone wants their money to grow and this is why this form of investing is such a desirable form of investing now. First, their investment in real estate will always pay off. Secondly, it will give regular income derived from the monthly dividend distribution scheme and thirdly, higher results than those available from investing in stocks and bonds. There is something called investor eligibility that you need to meet for this form of investing, and that is determined once you meet the minimum net worth requirements. Private money investing involves many technicalities i.e. the lending process, funding and underwriting that one must be aware of. Methods of investments: Fractional method, Mortgage fund investment, Equity ownership etc. Things to consider before venturing out into private money investing: The amount of investment that is being asked, the value of the property that is pledged, description of the property, negotiation of suitable terms from either party and the use of funds whether to construct the property or to renovate. This eventually is a risky business so it is important to associate your investment with known construction brands. Before lending money, several things are taken into account and one of it is to calculate the worth of the real estate piece. The liquid value of the collateral minus debt and liabilities is what investors look at while using private money investing. Again, it cannot be emphasized enough: focus on one area of investing, and stick with that. For instance, either focus your efforts on real estate, the stock market, mutual funds, etc. don't try to learn everything about all of them. Follow these important tips, and if you have decided to use private money investing, you will make a fortune with your investing efforts. |
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