WASHINGTON The U.S. Department of Housing and Urban Development (HUD) these days launched an agreement with the proprietors and providers of Swansea Park Senior Apartments in la to eliminate allegations they violated fair housing laws and regulations for refusing allowing a resident with handicaps to own a live-in aide and making discriminatory statements to him. Resource website link 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
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Investment Commentator Courtyard Drive, Texas 78731 The Division of Swap Dealer and Intermediary Oversight of the U.S. Commodity Futures Trading Commission (CFTC or Commission) today issued the Swap Dealer De Minimis Exception Final Staff Report. Source link Tags: ... Tags: Saving money is what every citizen in America claims to strive for. Our society, in this time of day is beyond bankruptcy. We have dug ourselves in a hole so deep that the walls would be difficult to find just to try and climb out of. Our deficit is so large that we owe China twice as much as our worth. Business owners are struggling to keep their doors open while large corporations keep prospering taking all the money from people and keeping it to themselves. Most corporate employees get paid minimum wage or just a bit more. So where is all this money disappearing to? Into the fat wallets of corporate owners and into accounts overseas. Instead of recognizing this, our friends, families and co-workers continue to use services of big corporations allowing them to profit. People do not comprehend that if they were to buy their clothes from local stores and shops they would bring revenue into family operated businesses which would allow those families to spend money on other local businesses. This was the trading mechanism society used hundreds of years ago to keep up with bills and survive. This would ultimately be a win for everyone since it would only be money transferring back and forth between ourselves as opposed to the big corporations that move their revenue elsewhere. Another important method we need to bring to the table is overspending. The average American family acquires about $117,951 of debt which adds up to $2 trillion dollars statewide. It is extremely unusual that Americans are in debt than England earns a year. Why is this we ask ourselves? Is it because our mentality is to want everything that our neighbors have and more? Is it because we are selfish and greedy and will acquire any credit just to live a certain type of lifestyle that we cannot afford? Sadly, this is the honest truth and what lead us to spiral out of control as a country. Our government, along with ourselves, have failed to live within our means. Here is another myth we live by: if you pay your credit-card balance off every month, you get free use of their money. FALSE. The fact is, 78 percent of credit-card holders do NOT pay off their credit cards every month. Credit-card users spend 12 to 18 percent more when using credit instead of cash. It hurts to spend cash, so you spend less. We really need to reevaluate our spending habits and where exactly we spend them. Use a family owned coffee shop instead of the local Starbucks. Shop at the small local shops for attire as, opposed to shopping at the mall. Purchase your car insurance at a family owned agency, instead of getting ripped off by money hungry insurance companies. Most of all stop using your credit cards so much and live more conservatively. Our children are our future and we want to raise them with the correct ethics and morals. Source by Natalie Fanin Tags: Steve Azoury on New College Students - Azoury Financial Services
We are focused on retirement planning. Azoury Financial in Troy, Michigan (248) 535-4860 3150 Livernois Suite 145 Troy, MI 48084 http://azouryandassociates.com/ All about college credit cards College credit cards are the credit cards that have been specially designed for college students. College credit cards are more popularly known as student credit cards. College credit cards allow the students to experience the benefits of credit cards much earlier in their life. Through college credit cards, the college students are able to learn more about credit cards and their use. In fact, for most of the students, their college credit card is their first credit card that acts as a gateway to the world of credit cards. Some other students might have previously used supplementary credit cards linked to their father's credit card account; however, for such students too, their college credit card is the first one that is truly theirs. College credit cards are not very different from other types of credit cards in the basic sense; they function in the same way as any credit card would. However, there are some differences, which basically arise from the fact that college credit cards are used by people who have no prior experience with credit cards and who perhaps don't understand the concept of credit cards completely. Hence, the credit card supplier is at risk with issuing credit cards (college credit cards) to such people whom he is not sure about. Most of the students don't have a credit history either. In such a case, the supplier of college credit card cannot be sure of receiving the credit card bill payments in time (and even receiving them at all). To counter such risks, the supplier of college credit card requires the parent of the student to co-sign the college credit card application form as a guarantee. Moreover, the credit limit on college credit cards is generally around $500-$1000 per month, which is lower than what it is for other credit cards (this credit limit is generally sufficient to fulfil the typical needs of a student). Another risk mitigation instrument used by the college credit card suppliers is the interest rate or APR. The APR on college credit cards is generally higher than that for other credit cards. Again, this is done to dissuade the students from overspending on their college credit card (and finally not being able to pay their credit card bills). However, if we were to look at these impositions in a positive sense, we would find that these are actually in favour of the student (who is still getting trained to take on the real world of credit cards). Moreover, college credit cards also help the students in establishing a (good) credit history which is another important benefit that becomes handy when the student needs any type of loan at a later stage in his/her life. So, college credit cards are really something that every student should consider going for. Tags: Retirement Planning Commentator Carter Drive The U.S. Commodity Futures Trading Commission (CFTC) announced today the https://www.youtube.com/watch?v=7eoYnUvpLFE the upcoming CFTC Energy and Environmental Markets Advisory Committee (EEMAC) public meeting. Source link Tags: retirement,business,financial,services,insurance,glen mills,middletown de,wilmington pike,financial consultant... Tags: retirement,business,financial,services,insurance,glen mills,middletown de,wilmington pike,financial consultant Bureau of Democracy, Human Rights and Labor (DRL) Notice of Funding Opportunity (NOFO): Promoting Internationally Recognized Labor Rights in Vietnam, South Asia and the Gulf September 28, 2016 This is the announcement of funding opportunity number, DRLA-DRLAQM-17-016 Catalog of Federal Domestic Assistance Number: 19.345 Application Deadline: November 30, 2016 A. Project Description The U.S. Department of State, Bureau of Democracy, Human Rights and Labor (DRL) announces an open competition for organizations interested in submitting applications for projects that support the policy objective of promoting internationally recognized labor rights. Organizations may submit no more than one (1) application per category and must explicitly identify for which category an application is being submitted. If an application does not explicitly identify one of the below categories in the submission, it may be deemed technically ineligible and may not be forwarded to the review panel for consideration. More specifically, projects should seek to do the following: In Vietnam ($500,000 available), DRL seeks to support internationally recognized worker rights. DRL requests proposals that promote increased understanding and awareness of and capacity to engage on internationally recognized labor rights in Vietnam on the part of civil society, including workers. Proposed projects should develop sustainable mechanisms for workers and a range of civil society organizations to support increased monitoring and understanding of labor rights and standards. Applicants should seek to engage relevant stakeholders at the national, provincial and local levels to promote a greater understanding of these issues and to foster constructive labor relations under current and future labor laws. For example, applicants may consider convening a series of focused discussions on specific labor law issues between civil society, including workers, and employers with the goal of developing jointly-agreed policy recommendations to feed into labor law reform efforts. Proposals should demonstrate an in-depth knowledge of other technical assistance programs in Vietnam and clearly indicate how proposed activities are complementary to those efforts. Organizations submitting an application for this category are strongly encouraged to do so in partnership with at least one other organization. However, one organization must be designated as the lead applicant. While organizations are limited to submitting only one (1) application under this category, this limitation does not extend to being included as a partner in another organization's application. *** In South Asia and the Gulf ($800,000 available), DRL seeks to promote migrant workers' rights on both ends of the migration corridor. Projects should propose creative and comprehensive interventions that advance migrant worker rights at all stages of the migration process, including by advancing new partnerships and technology to promote migrant workers' rights. DRL requests innovative proposals that support the establishment or development of labor organization- and/or other civil society-driven efforts that advance labor rights of migrants in countries of origin and destination. Competitive applications may establish or further develop existing linkages between labor and/or other civil society organizations in countries of destination and origin and build international networks of labor and civil society that can operate at all phases of the labor migration process. Competitive applications will utilize unique strategies that emphasize developing or using appropriate technology for advancing migrant workers' rights in a range of activities that could include legal assistance services, increasing awareness of labor rights and the recruitment process among potential migrants, training migrants post-arrival, developing or strengthening grievance mechanisms, or improving the recruitment process. Applications must focus on the South Asia to the Gulf migration corridor. Target countries must include at least two of the following only: Bangladesh, India, Nepal, Sri Lanka, Qatar, Kuwait, UAE, and Saudi Arabia. At least two of the listed countries, one a country of origin and the other a destination country, must be included in the proposal. Proposals should demonstrate an in-depth knowledge of other labor migration-focused technical assistance programs in the target region and clearly indicate how proposed activities are complementary to those efforts. Organizations submitting an application for this category are strongly encouraged to do so in partnership with at least one other organization. However, one organization must be designated as the lead applicant. While organizations are limited to submitting only one (1) application under this category, this limitation does not extend to being included as a partner in another organization's application. *** Projects should have the potential to have an immediate impact leading to long-term sustainable reforms, and should have potential for sustainability beyond DRL resources. DRL's preference is to not duplicate past efforts, but instead support new and creative approaches. This does not exclude from consideration projects that improve upon or expand existing successful projects in a new and complementary way. DRL also strives to ensure its projects advance the rights and uphold the dignity of the most vulnerable or at-risk populations. Where appropriate, competitive proposals may include: Systematic follow up with trainees at specific intervals (3 months, 6 months, etc.) after the completion of trainings to track how beneficiaries are retaining new knowledge as well as applying their new skills. Opportunities for trainees to apply their new knowledge and skills in practical efforts. Solicitation of feedback and suggestions from beneficiaries when developing trainings and activities in order to strengthen the sustainability of labor programs and participant ownership of project outcomes. Input from participants on sustainability plans and systematic review of the plans throughout the life of the project with adjustments made as necessary. Inclusion of vulnerable populations in needs and/or rapid assessments in order to identify challenges, gaps, and opportunities among these groups. Joint identification and definition of key concepts with relevant stakeholders and stakeholder input into project activities. Activities that typically are not considered competitive include: The provision of large amounts of humanitarian assistance; English language instruction; Development of high-tech computer or communications software and/or hardware; Purely academic exchanges or fellowships; External exchanges or fellowships lasting longer than six months; Off-shore activities that are not clearly linked to in-country initiatives and impact or are not necessary for security concerns; Theoretical explorations of human rights or democracy issues, including projects aimed primarily at research and evaluation that do not incorporate training or capacity-building for local civil society; Micro-loans or similar small business development initiatives; Initiatives directed towards a diaspora community rather than current residents of targeted countries. B. Federal Award Information DRL anticipates having approximately $1,300,000 available to support approximately two successful applications submitted in response to this NOFO, subject to the availability of funding. DRL will support one award for Vietnam and one award for the South Asia and Gulf migration corridor project. Applicants can apply for one or both awards but may not submit multiple applications for a single award. Applications should not request less than $250,000 or more than the amount listed as available for each award. Applicants should include an anticipated start date between April 2017 September 2017 and the period of performance should be between 18-36 months. The U.S. government may (a) reject any or all applications, (b) accept other than the lowest cost application, (c) accept more than one application, and (d) waive informalities and minor irregularities in applications received. The U.S. government may make award(s) on the basis of initial applications received, without discussions or negotiations. Therefore, each initial application should contain the applicant's best terms from a cost and technical standpoint. The U.S. government reserves the right (though it is not under obligation to do so), however, to enter into discussions with one or more applicants in order to obtain clarifications, additional detail, or to suggest refinements in the project description, budget, or other aspects of an application. DRL anticipates awarding either a grant or cooperative agreement depending on the needs and risk factors of the program. The final determination on mechanism will be made by the Grants Officer. If a cooperative agreement is awarded, DRL expects to be substantially involved during its implementation. Examples of substantial involvement can include: 1) Approval of the Recipient's annual work plans, including: planned activities for the following year, travel plans, planned expenditures, event planning, and changes to any activity to be carried out under the cooperative agreement; 2) Approval of sub-award recipients, concurrence on the substantive provisions of the sub-awards, and coordination with other cooperating agencies; 3) Other approvals that will be included in the award agreement. The authority for this funding opportunity is found in the Foreign Assistance Act of 1961, as amended (FAA). C. Eligibility Information For application information, please see the proposal submission instructions on our website. C.1 Eligible Applicants DRL welcomes applications from U.S.-based and foreign-based non-profit organizations/nongovernment organizations (NGO) and public international organizations; private, public, or state institutions of higher education; and for-profit organizations or businesses. DRL's preference is to work with non-profit entities; however, there may be some occasions when a for-profit entity is best suited. For-profit entities should be aware that its applications may be subject to additional review following the panel selection process. Additionally, the Department of State generally prohibits profit under its assistance awards to for-profit or commercial organizations. Profit is defined as any amount in excess of allowable direct and indirect costs. The allowability of costs incurred by commercial organizations is determined in accordance with the provisions of the Federal Acquisition Regulation (FAR) at 48 CFR 30, Cost Accounting Standards Administration, and 48 CFR 31 Contract Cost Principles and Procedures. Project income earned by the recipient must be deducted from the total project allowable cost in determining the net allowable costs on which the federal share of costs is based. C.2 Cost Sharing or Matching Providing cost sharing, matching, or cost participation is not an eligibility requirement for this NOFO. C.3 Other Applicants must have existing, or the capacity to develop, active partnerships with thematic or in-country partners, entities and relevant stakeholders, including private sector partners and NGOs, and have demonstrable experience in administering successful and preferably similar projects. DRL encourages applications from foreign-based NGOs headquartered in the geographic regions/countries relevant to this NOFO. Applicants may form consortia and submit a combined application. However, one organization should be designated as the lead applicant with the other members as sub-award partners. DRL reserves the right to request additional background information on applicants that do not have previous experience administering federal grant awards, and these applicants may be subject to limited funding on a pilot basis. DRL is committed to an anti-discrimination policy in all of its projects and activities. DRL welcomes applications irrespective of an applicant's race, ethnicity, color, creed, national origin, gender, sexual orientation, gender identity, disability, or other status. DRL encourages applications from organizations working with the most at risk and vulnerable communities, including women, youth, persons with disabilities, members of ethnic or religious minority groups, and LGBTI persons. Any applicant listed on the Excluded Parties List System in the System for Award Management (SAM)(www.sam.gov) is not eligible to apply for an assistance award in accordance with the OMB guidelines at 2 CFR 180 that implement Executive Orders 12549 (3 CFR,1986 Comp., p. 189) and 12689 (3 CFR,1989 Comp., p. 235), Debarment and Suspension. Additionally no entity listed on the Excluded Parties List System in SAM can participate in any activities under an award. All applicants are strongly encouraged to review the Excluded Parties List System in SAM to ensure that no ineligible entity is included. D. Application and Submission Information D.1 Address to Request Application Package Applicants can find application forms, kits, or other materials needed to apply on www.grants.gov and www.grantsolutions.gov under the announcement title Promoting Internationally Recognized Labor Rights in Vietnam, South Asia and the Gulf funding opportunity number DRLA-DRLAQM-17-016 . Please contact the DRL point of contact listed in section G if requesting reasonable accommodations for persons with disabilities or for security reasons. Please note: reasonable accommodations do not include deadline extensions. It is DRL's preference that applications be submitted through GrantSolutions.gov D.2 Content and Form of Application Submission For all application documents, please ensure: 1) All documents are in English and all costs are in U.S. dollars. If an original document within the application is in another language, an English translation must be provided (please note: the Department of State, as indicated in 2 CFR 200.111, requires that English is the official language of all award documents. If any documents are provided in both English and a foreign language, the English language version is the controlling version); 2) All pages are numbered, including budgets and attachments; 3) All documents are formatted to 8 x 11 paper; and, 4) All documents are single-spaced, 12 point Times New Roman font, with 1-inch margins. Captions and footnotes may be 10 point Times New Roman font. Font sizes in charts and tables, including the budget, can be reformatted to fit within 1 page width. D.2.1 Application Requirements Complete applications must include the following: 1. Completed and signed SF-424, SF-424A, and SF-424B forms. 2. If your organization engages in lobbying the U.S. government or Congress, or pays for another entity to lobby on your behalf, the SF-LLL Disclosure of Lobbying Activities form is also required. 3. Cover Page (not to exceed one [1] page, preferably in Microsoft Word) that includes a table with the project title, target country/countries, thematic area, project synopsis, and name and contact information for the application's main point of contact. 4. Executive Summary (not to exceed one [1] page, preferably in Microsoft Word) that outlines project goals, objectives, and activities. 5. Table of Contents (not to exceed one [1] page, preferably in Microsoft Word) listing all documents and attachments, with page numbers. 6. Proposal Narrative (not to exceed ten [10] pages, preferably in Microsoft Word). Please note the ten page limit does not include the Table of Contents, Cover Page, Attachments, Detailed Budget, Budget Narrative, or Negotiated Indirect Cost Rate Agreement (NICRA). Applicants are encouraged to combine multiple documents in a single Word Document or PDF (i.e., Cover Page, Table of Contents, Executive Summary, and Proposal Narrative in one file). 7. Budget (preferably as an Excel workbook) that includes three [3] columns containing the request to DRL, any cost sharing contribution, and the total budget. A summary budget should also be included using the OMB-approved budget categories (see SF-424A as a sample) in a separate tab. Costs must be in U.S. dollars. Detailed line-item budgets for subgrantees should be included in additional tabs within the Excel workbook (if available at the time of submission). 8. Budget Narrative (preferably as a Word Document) that includes substantive explanations and justifications for each line-item in the detailed budget spreadsheet, as well as the source and a description of all cost-share offered. 9. Your organization's most recent A-133 audit (if applicable), F Audit, or standard audit. 10. Logic Model (not to exceed two [2] pages, preferably in Microsoft Word). 11. Monitoring and Evaluation Narrative (not to exceed two [2] pages). 12. Monitoring and Evaluation Performance Indicator Table (not to exceed four [4] pages in Microsoft Word). 13. Risk Analysis (not to exceed one [1] page, preferably in Microsoft Word). 14. Key Personnel (not to exceed one [1] page, preferably as a Word Document): Please include short bios that demonstrate relevant professional experience. Given the limited space, CVs are not recommended for submission. 15. Timeline (not to exceed one [1] page): The timeline of the overall proposal should include activities, evaluation efforts, and program closeout. D.2.2 Additional Application Documents Strong applications will also contain the following: Individual Letters of Support and/or Memorandum of Understanding Letters of support and MOUs must be specific to the project implementation (e.g. from proposed partners or sub-award recipients) and will not count towards the page limit. Please refer to the Proposal Submission Instructions on DRL's website for detailed guidance on the documents above: http://www.state.gov/j/drl/p/260979.htm. For an application checklist and sample template please see the Resources page on DRL's website:http://www.state.gov/j/drl/p/c72333.htm. The sample templates provided on the DRL website are suggested, but not mandatory. DRL reserves the right to request additional documents not included in this NOFO. Additionally, to ensure that all applications receive a balanced evaluation, the DRL Panel will review from the first page of each section up to the page limit and no further. Note: If ultimately provided with a notification of intent to make a Federal award, applicants typically have two to three weeks to provide additional information and documents requested in the notification of intent. The deadlines may vary in each notification of intent and applicants must adhere to the stated deadline in the notification of intent. D.2.3 Additional Information Requested Successful applicants must submit after notification of intent to make a Federal award, but prior to issuance of a Federal award, will include: If your organization has a NICRA and includes NICRA charges in the budget, your latest NICRA should be included as a PDF file; Written responses and revised application documents addressing conditions and recommendations from the DRL Review Panel; Completion of the Department's Financial Management Survey, if receiving DRL funding for the first time; Submission of required documents to register in the Payment Management System managed by the Department of Health and Human Services, if receiving DRL funding for the first time (unless an exemption is provided); Other requested information or documents included in the notification of intent to make a Federal award or subsequent communications prior to issuance of a Federal award. D.3 Unique Entity Identifier and System for Award Management (SAM) Any applicant listed on the Excluded Parties List System (EPLS) in the System for Award Management (SAM) is not eligible to apply for an assistance award in accordance with the OMB guidelines at 2 CFR 180 that implement Executive Orders 12549 (3 CFR, 1986 Comp., p. 189) and 12689 (3 CFR, 1989 Comp., p. 235), Debarment and Suspension. Additionally, no entity listed on the EPLS can participate in any activities under an award. All applicants are strongly encouraged to review the EPLS in SAM to ensure that no ineligible entity is included. All organizations, whether based in the United States or in another country, must have a Unique Entity Identifier (UEI), formerly referred to as DUNS, and an active registration with the SAM before submitting an application. DRL may not review applications from or make awards to applicants that have not completed all applicable UEI and SAM requirements. A UEI is one of the data elements mandated by Public Law 109-282, the Federal Funding Accountability and Transparency Act (FFATA), for all Federal awards. Note: The process of obtaining a SAM.gov registration may take anywhere from 4-8 weeks. Please begin your registration as early as possible. If you are based in the United States or pay employees within the United States, prior to registering in SAM you will need an Employer Identification Number (EIN) from the Internal Revenue Service (IRS) and a Commercial and Government Entity (CAGE) code. If you are based outside of the United States and do not pay employees within the United States, you do not need an EIN from the IRS. However, you will need a NATO CAGE (NCAGE) code before you can have an active registration in SAM. All organizations must also continue to maintain active SAM registration with current information at all times during which they have an active Federal award or application under consideration by a Federal award agency. SAM requires all entities to renew their registration once a year in order to maintain an active registration status in SAM. It is the responsibility of the applicant to ensure it has an active registration in SAM and to maintain that active registration. If an applicant has not fully complied with the requirements by the time DRL is ready to make an award, the applicant may be deemed unqualified to receive an award and use that determination as a basis for making an award to another applicant. For further guidance on the registration process, please see the SAM.gov Registration Guide on DRL's website: http://www.state.gov/j/drl/p/c72333.htm. Please refer to 2 CFR 25.200 for additional information. D.3.1 Exemptions An exemption from these requirements may be permitted on a case-by-case basis if: An applicant is a foreign organization located outside of the United States without a UEI and the Department determines that acquiring one is impractical given the geographic location; or If an applicant's identity must be protected due to potential endangerment of their mission, their organization's status, their employees, or individuals being served by the applicant. * Organizations requesting exemption from SAM.gov, NCAGE, and UEI should email the point of contact in the solicitation. If establishing your SAM.gov account as private rather than public view, please notify DRL at the time of submission. Note: Foreign organizations will be required to register with the NATO Support Agency (NSPA) to receive a NCAGE code in order to register in SAM. NSPA will forward your registration request to the applicable National Codification Bureau (NCB) if your organization is located in a NATO or Tier 2 Sponsored Non-NATO Nation. As of March 2016, NATO nations included Albania, Belgium, Bulgaria, Canada, Croatia, Czech Republic, Denmark, Estonia, France, Germany, Greece, Hungary, Iceland, Italy, Latvia, Lithuania, Luxembourg, Netherlands, Norway, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Turkey, United Kingdom, and the United States of America; and Tier 2 nations included Australia, Austria, Brazil, Finland, Israel, Republic of Korea, Malaysia, Morocco, New Zealand, Serbia, and Singapore. NSPA and/or the appropriate NCB forwards all NCAGE code information to all Allied Committee 135 (AC/135) nations, which as of March 2016 also included Afghanistan, Argentina, Belarus, Bosnia & Herzegovina, Brunei Darussalam, Chile, Colombia, Egypt, Georgia, India, Indonesia, Japan, Jordan, Montenegro, Oman, Papua New Guinea, Peru, Saudi Arabia, South Africa, Sweden, Thailand, Republic of Macedonia, Ukraine, and the United Arab Emirates. All organizations are strongly advised to take this into consideration when assessing whether registration may result in possible endangerment. D.4 Submission Dates and Times Applications are due no later than 11:30 p.m. Eastern Standard Time (EST), on November 30, 2016on www.grants.gov or www.grantsolutions.gov under the announcement title Promoting Internationally Recognized Labor Rights in Vietnam, South Asia and the Gulf funding opportunity number DRLA-DRLAQM-17-016. Grants.gov and Grantsolutions.gov automatically log the date and time an application submission is made, and the Department of State will use this information to determine whether an application has been submitted on time. Late applications are neither reviewed nor considered unless the DRL point of contact listed in section G is contacted prior to the deadline and is provided with evidence of system errors caused by www.grants.gov or www.grantsolutions.gov that is outside of the applicants' control and is the sole reason for a late submission. Applicants should not expect a notification upon DRL receiving their application. D.5 Funding Restrictions DRL will not consider applications that reflect any type of support for any member, affiliate, or representative of a designated terrorist organization. Project activities whose direct beneficiaries are foreign militaries or paramilitary groups or individuals will not be considered for DRL funding given purpose limitations on funding. Restrictions may apply to any proposed assistance to police or other law enforcement. Among these, pursuant to section 620M of the Foreign Assistance Act of 1961, as amended(FAA), no assistance provided through this funding opportunity may be furnished to any unit of the security forces of a foreign country when there is credible information that such unit has committed a gross violation of human rights. In accordance with the requirements of section 620M of the FAA, also known as the Leahy law, project beneficiaries or participants from a foreign government's security forces may need to be vetted by the Department before the provision of any assistance. Federal awards generally will not allow reimbursement of pre-award costs; however, the grants officer may approve pre-award costs on a case by case basis. Generally, construction costs are not allowed under DRL awards. For additional information, please see DRL's PSI for Applications, as updated in August 2016: http://www.state.gov/j/drl/p/260979.htm. D.6 Application Submission All application submissions must be made electronically via www.grants.gov or www.grantsolutions.gov. Both systems require registration by the applying organization. Please note: the Grants.gov registration process can take 10 business days or longer, even if all registration steps are completed in a timely manner. It is the responsibility of the applicant to ensure that it has an active registration in GrantSolutions.gov or Grants.gov. Applicants are required to document that the application has been received by GrantSolutions.gov or Grants.gov in its entirety. DRL bears no responsibility for disqualification that result from applicants not being registered before the due date, for system errors in either GrantSolutions or Grants.gov, or other errors in the application process. Additionally you must save a screen shot of the checklist showing all documents submitted in case any document fails to upload successfully. GrantSolutions.gov is highly recommended for submission of all applications and is DRL's preferred choice for receiving applications. Faxed, couriered, or emailed documents will not be accepted. Reasonable accommodations may, in appropriate circumstances, be provided to applicants with disabilities or for security reasons. Applicants must follow all formatting instructions in the applicable solicitation and these instructions. DRL encourages organizations to submit applications during normal business hours (Monday Friday, 9:00AM- 5:00PM Eastern Time). If an applicant experiences technical difficulties and has contacted the appropriate helpdesk but is not receiving timely assistance (e.g. if you have not received a response within 48 hours of contacting the helpdesk), you may contact the DRL point of contact listed in the NOFO in section G. The point of contact may assist in contacting the appropriate helpdesk, but an applicant should also document their efforts in contacting the help desk. Applicants may also contact the DRL point of contact listed in the NOFO if experiencing technical issues with grants.gov or grantsolutions.gov that may result in a late submission. Applicants experiencing technical difficulties should follow these three steps: 1. Contact the helpdesk for either Grants.gov or GrantSolutions immediately. 2. Document (including screenshots) technical issues AND efforts to contact the helpdesk. 3. Submit all of the required documents to the DRL point of contact listed in the solicitation before the deadline. Note: The Procurement Office will determine technical eligibility of all applications GrantSolutions.gov Applications All applicants are strongly encouraged to submit applications via www.grantsolutions.gov. Applicants using GrantSolutions.gov for the first time should complete their New Organization Registration as soon as possible. This process must be completed before an application can be submitted. Registration with GrantSolutions.gov usually occurs directly after an applicant submits their registration. To register with GrantSolutions.gov, click Login to GrantSolutions and follow the First Time Users link to the New Organization Registration Page. There are different ways to register your organization, click on the link that fits best. Upon completion of a successful electronic application submission, the GrantSolutions system will provide the applicant with a confirmation page indicating the date and time (Eastern Time) of the electronic application submission as well as an official Application Number. This confirmation page will also provide a listing of all items that constitute the final application submission. Please save this page for your records. Additionally you must remember to save a screen shot of the checklist showing all documents submitted in case any document fails to upload successfully. GrantSolutions.gov Help Desk: For assistance with GrantSolutions.gov accounts and technical issues related to the system, please contact Customer Support at [email protected] or call 1-866-577-0771 (toll charges for international callers) or 1-202-401-5282. Customer Support is available 8AM 5PM EST, Monday Friday, except federal holidays. Grants.gov Applications Applicants who do not submit applications via GrantSolutions.gov may submit via www.grants.gov. It is DRL's preference that applications be submitted through GrantSolutions.gov. Please be advised that completing all the necessary registration steps for obtaining a username and password from Grants.gov can take more than two weeks. Please refer to the Grants.gov website for definitions of various "application statuses" and the difference between a submission receipt and a submission validation. Applicants will receive a validation e-mail from Grants.gov upon the successful submission of an application. Validation of an electronic submission via Grants.gov can take up to two business days. Additionally you must remember to save a screen shot of the checklist showing all documents submitted in case any document fails to upload successfully. Grants.gov Helpdesk: For assistance with Grants.gov, please call the Contact Center at 1-800-518-4726 or email [email protected]. The Contact Center is available 24 hours a day, seven days a week, except federal holidays. E. Application Review Information E.1 Proposal Review Criteria The Panel will evaluate each application individually against the following criteria, listed below in order of importance, and not against competing applications. Please use the below criteria as a reference but do not structure your application according to the sub-sections. Quality of Project Idea Applications should be responsive to the program framework and policy objectives identified in the solicitation, appropriate in the country/regional context, and should exhibit originality, substance, precision, and relevance to DRL's mission of promoting human rights and democracy. Projects should have the potential to have an immediate impact leading to long-term sustainable reforms. DRL prefers new approaches that do not duplicate efforts by other entities. This does not exclude from consideration projects that improve upon or expand existing successful projects in a new and complementary way. In countries where similar activities are already taking place, an explanation should be provided as to how new activities will not duplicate or merely add to existing activities and how these efforts will be coordinated. Proposals that promote creative approaches to recognized ongoing challenges are highly encouraged. DRL strives to ensure the rights and uphold the dignity of the most vulnerable or at-risk populations. DRL prioritizes project proposals with inclusive approaches for advancing these rights. Project Planning/Ability to Achieve Objectives A strong application will include a clear articulation of how the proposed project activities contribute to the overall project objectives, and each activity will be clearly developed and detailed. A comprehensive monthly work plan should demonstrate substantive undertakings and the logistical capacity of the organization. Objectives should be ambitious, yet measurable, results-focused and achievable in a reasonable time frame. A complete application must include a logic model to demonstrate how the project activities will have an impact on its proposed objectives. The logic model should match the objectives, outcomes, key activities and outputs described in the narrative. Applications should address how the project will engage relevant stakeholders and should identify local partners as appropriate. If local partners have been identified, DRL strongly encourages applicants to submit letters of support from proposed in-country partners. Additionally, applicants should describe the division of labor among the direct applicant and any local partners. If applicable, applications should identify target areas for activities, target participant groups or selection criteria for participants, and the specific roles of sub-awardees, among other pertinent details. DRL recognizes that all programs have some level of risk due to internal/external variables that have the potential to adversely affect a program. Risk management should address how the program design incorporates the identification, assessment, and management of key risk factors. DRL will review the risk analysis based on the organization's ability to identify risks that could have an impact on the overall program as well as how the organization will manage these risks. Institution's Record and Capacity DRL will consider the past performance of prior recipients and the demonstrated potential of new applicants. Applications should demonstrate an institutional record of successful democracy and human rights programs, including responsible fiscal management and full compliance with all reporting requirements for past grants. Proposed personnel and institutional resources should be adequate and appropriate to achieve the project's objectives. Projects should have potential for continued funding beyond DRL resources. Inclusive Programming DRL strives to ensure its projects advance the rights and uphold the dignity of the most at risk and vulnerable populations, including women, youth, people with disabilities, members of racial and ethnic or religious minority groups, and LGBTI persons. To the extent possible, applicants should identify and address considerations to support these populations in all proposed project activities and objectives, and should provide specific means, measures, and corresponding targets to include them as appropriate. Applicants must provide strong justifications if unable to incorporate the most at risk and vulnerable populations within proposed project activities and objectives. Applications that do not include this will not be considered highly competitive in this category. Cost Effectiveness DRL strongly encourages applicants to clearly demonstrate project cost-effectiveness in their application, including examples of leveraging institutional and other resources. However, cost-sharing or other examples of leveraging other resources are not required. Inclusion of cost-sharing in the budget does not result in additional points awarded during the review process. Budgets should have low and/or reasonable overhead and administration costs, and applicants should provide clear explanations and justifications for these costs in relation to the work involved. All budget items should be clearly explained and justified to demonstrate necessity, appropriateness, and connection to the project objectives. Please note: If cost-share is included in the budget, the recipient must maintain written records to support all allowable costs that are claimed as its contribution to cost-share, as well as costs to be paid by the Federal government. Such records are subject to audit. In the event the recipient does not meet the minimum amount of cost-sharing as stipulated in the recipient's budget, DRL's contribution may be reduced in proportion to the recipient's contribution. Multiplier Effect/Sustainability Applications should clearly delineate how elements of the project will have a multiplier effect and be sustainable beyond the life of the grant. A good multiplier effect will have an impact beyond the direct beneficiaries of the grant (e.g. participants trained under a grant go on to train other people; workshop participants use skills from a workshop to enhance a national level election that affects the entire populace). A strong sustainability plan may include demonstrating continuing impact beyond the life of a project or garnering other donor support after DRL funding ceases. Project Monitoring and Evaluation Complete applications will include a detailed M&E Narrative and M&E Plan, which detail how the project's progress will be monitored and evaluated. Incorporating well-designed monitoring and evaluation processes into a project is an efficient method for documenting the change (intended and unintended) that a project seeks. Applications should demonstrate the capacity to provide objectives with measurable outputs and outcomes. The quality of the M&E sections will be judged on the narrative explaining how both monitoring and evaluation will be carried out, and who will be responsible for those related activities. Explain how an external evaluation will be incorporated into the project implementation plan or how the project will be systematically assessed in the absence of one. Please see the section on Monitoring and Evaluation Narrative above for more information on what is required in the narrative. The output and outcome-based performance indicators should not only be separated by project objectives but also should match the objectives, outcomes, and outputs detailed in the logic model and proposal narrative. Performance indicators should be clearly defined (i.e., explained how the indicators will be measured and reported) either within the table or with a separate Performance Indicator Reference Sheet (PIRS). For each performance indicator, the table should also include baselines and quarterly and cumulative targets, data collection tools, data sources, types of data disaggregation, and frequency of monitoring and evaluation. There should also be metrics to capture how project activities target the most at-risk and vulnerable populations or addresses their concerns, where applicable. Please see the section on Monitoring and Evaluation Plan above for more information on what is required in the plan. E.2 Review and Selection Process DRL strives to ensure that each application receives a balanced evaluation by a DRL Review Panel. The Department's Office of Acquisitions Management (AQM) will determine technical eligibility for all applications. All technically eligible applications for a given solicitation are reviewed against the same seven criteria, which include quality of project idea, project planning/ability to achieve objectives, institutional record and capacity, inclusive programming, cost effectiveness, multiplier effect/sustainability, and project monitoring and evaluation. Additionally, the Panel will evaluate how the application addresses the solicitation request, U.S. foreign policy goals, and the priority needs of DRL overall. DRL may also take into consideration the balance of the current portfolio of active projects, including geographic or thematic diversity, if needed. In most cases, the DRL Review Panel includes representatives from DRL, the appropriate Department of State regional bureau (to include feedback from U.S. embassies), and U.S. Agency for International Development (USAID) (to include feedback from USAID missions). In some cases, additional panelists may participate, including from other Department of State bureaus or offices, U.S. government departments, agencies, or boards, representatives from partner governments, or representatives from entities that are in a public-private partnership with DRL. At the end of the panel's discussion about an application, the Panel votes on recommending the application for approval by the DRL Assistant Secretary. If more applications are ultimately recommended for approval than DRL can fund, the Panel will rank the recommended applications in priority order for consideration by the DRL Assistant Secretary. The Grants Officer Representative (GOR) for the eventual award does not vote on the panel. All Panelists must sign non-disclosure agreements and conflicts of interest agreements. DRL Review Panels may provide conditions and recommendations on applications to enhance the proposed project, which must be addressed by the applicant before further consideration of the award. To ensure effective use of DRL funds, conditions or recommendations may include requests to increase, decrease, clarify, and/or justify costs and project activities. F. Federal Award Administration Information F.1 Federal Award Notices DRL will provide a separate notification to applicants on the result of their applications. Successful applicants will receive a letter electronically via email requesting that the applicant respond to panel conditions and recommendations. This notification is not an authorization to begin activities and does not constitute formal approval or a funding commitment. Final approval is contingent on the applicant successfully responding to the panel's conditions and recommendations, being registered in required systems, including the U.S. government's Payment Management System (PMS), unless an exemption is provided, and completing and providing any additional documentation requested by DRL or AQM. Final approval is also contingent on Congressional notification requirements being met and final review and approval by the Department's warranted grants officer. The notice of Federal award signed by the Department's warranted grants officers is the sole authorizing document. If awarded, the notice of Federal award will be provided to the applicant's designated Authorizing Official via GrantSolutions to be electronically counter-signed in the system. F.2 Administrative and National Policy Requirements The Uniform Administrative Requirements, Cost Principles and Audit Requirements for Federal Awards set forth in 2 CFR Chapter 200 (Sub-Chapters A through F) shall apply to all non-Federal entities, except for assistance awards to Individuals and Foreign Public Entities. Sub-Chapters A through E shall apply to all foreign organizations, and Sub-Chapters A through D shall apply to all U.S. and foreign for-profit entities. The applicant/recipient of the award and any sub-recipient under the award must comply with all applicable terms and conditions, in addition to the assurance and certifications made part of the Notice of Award. The Department's Standard Terms and Conditions can be viewed at http://www.state.gov/j/drl/p/c72333.htm. F.3 Reporting Applicants should be aware that DRL awards will require that all reports (financial and progress) are uploaded to the grant file in GrantSolutions on a quarterly basis. The Federal Financial Report (FFR or SF-425) is the required form for the financial reports and must be submitted in PMS as well as downloaded and then uploaded to the grant file in GrantSolutions. The progress reports uploaded to the grant file in GrantSolutions must include page one (signed and completed) of the SF-PPR (Performance and Progress Report); a narrative attachment to the SF-PPR as described below; and the SF-PPR-B: Project Indicators (or other mutually agreed upon format approved by the grants officer) for the F Framework indicators. Narrative progress reports should reflect the focus on measuring the project's impact on the overarching objectives and should be compiled according to the objectives, outcomes, and outputs as outlined in the award's Scope of Work (SOW) and in the Monitoring and Evaluation (M&E) Statement. An assessment of the overall project's impact, should be included in each progress report. Where relevant, progress reports should include the following sections: Relevant contextual information (limited); Explanation and evaluation of significant activities of the reporting period and how the activities reflect progress toward achieving objectives, including meeting benchmarks/targets as set in the M&E plan. In addition, attach the M&E plan, comparing the target and actual numbers for the indicators; Any tangible impact or success stories from the project, when possible; Copy of mid-term and/or final evaluation report(s) conducted by an external evaluator; if applicable; Relevant supporting documentation or products related to the project activities (such as articles, meeting lists and agendas, participant surveys, photos, manuals, etc.) as separate attachments; Description of how the Recipient is pursuing sustainability, including looking for sources of follow-on funding; Any problems/challenges in implementing the project and a corrective action plan with an updated timeline of activities; Reasons why established goals were not met; Data for the required F Framework indicator(s) for the quarter as well as aggregate data by fiscal year using the SF-PPR-B: Project Indicators or other mutually agreed upon format approved by the Grants Officer. Evaluation indicators from the Foreign Assistance Framework can be found at http://www.state.gov/f/indicators/ ; Proposed activities for the next quarter; Additional pertinent information, including analysis and explanation of cost overruns or high unit costs, if applicable. A final narrative and financial report must also be submitted within 90 days after the expiration of the award. Please note: delays in reporting may result in delays of payment approvals and failure to provide required reports may jeopardize the recipient's' ability to receive future U.S. government funds. DRL reserves the right to request any additional programmatic and/or financial project information during the award period. G. Contact Information For technical submission questions related to this solicitation, please contact Veronica Hernandez at [email protected]. For assistance with GrantSolutions.gov accounts and technical issues related to using the system, please contact Customer Support at [email protected] or call 1-866-577-0771 (toll charges for international callers) or 1-202-401-5282. Customer Support is available 8 AM 6 PM EST, Monday Friday, except federal holidays. For assistance with Grants.gov accounts and technical issues related to using the system, please call the Contact Center at 1-800-518-4726 or email [email protected]. The Contact Center is available 24 hours a day, seven days a week, except federal holidays. For a list of federal holidays visit: https://www.opm.gov/policy-data-oversight/snow-dismissal-procedures/federal-holidays/ With the exception of technical submission questions, during the solicitation period U.S. Department of State staff in Washington and overseas shall not discuss this competition with applicants until the entire proposal review process has been completed and rejection and approval letters have been transmitted. H. Other Information Applicants should be aware that DRL understands that some information contained in applications may be considered sensitive or proprietary and will make appropriate efforts to protect such information. However, applicants are advised that DRL cannot guarantee that such information will not be disclosed, including pursuant to the Freedom of Information Act (FOIA) or other similar statutes. The information in this NOFO and DRL's PSI for Applications, as updated in August 2016, is binding and may not be modified by any DRL representative. Explanatory information provided by DRL that contradicts this language will not be binding. Issuance of the NOFO and negotiation of applications does not constitute an award commitment on the part of the U.S. government. DRL reserves the right to reduce, revise, or increase proposal budgets in accordance with the needs of the project evaluation requirements. This NOFO will appear on www.grants.gov, www.grantsolutions.gov, and DRL's website http://www.state.gov/j/drl/p/c12302.htm. Background Information on DRL and general DRL funding DRL is the foreign policy lead within the U.S. government on promoting democracy and protecting human rights globally. DRL supports projects that uphold democratic principles, support and strengthen democratic institutions, promote human rights, prevent atrocities, combat and prevent violent extremism, and build civil society around the world. DRL typically focuses its work in countries with egregious human rights violations, where democracy and human rights advocates are under pressure, and where governments are undemocratic or in transition. Additional background information on DRL and its efforts can be found on www.state.gov/j/drl and www.humanrights.gov. The Office of Website Management, Bureau of Public Affairs, manages this site as a portal for information from the U.S. State Department.External links to other Internet sites should not be construed as an endorsement of the views or privacy policies contained therein. Source link 5 tricks to make it big with real estate investing Real estate investing is one of the most attractive ways of making good money (that is if you do it correct). Moreover, real estate investing is also a lot of fun. A lot of people practice real estate investing as their core profession and, in fact, make a lot of money that way. Real estate investing is really an art and, like any art, it takes time to master the art of real estate investing. The key, of course, is to buy at a lower price and sell at higher price and make a profit even after paying all the costs involved in the two (buy/sell) transactions. Generally, people are of the opinion that real estate investing makes sense only when the rates are on the rise. However, real estate investing for profits is possible just about any time (and as I just said, real estate investing is an art). Here is a list of tricks that can make real estate investing profitable for you: 1) Look for public auctions, divorce settlements and foreclosures (bank/FHA/VA): Since quick settlement is the preference here (and not price), you might get a property at a price that is much lower than the prevailing market rate. You can then make arrangements to sell it at the market rate over a short period of time. However, make sure that the property is worth the price you are paying. 2) Looking for old listings: The old listings that are still unsold may provide you with good real estate investing opportunities. Just get hold of an old newspaper and call up the sellers. They might have given up hope of selling that property at all and with a bit of negotiation you can get the property for a real low price. 3) The hidden treasure: A really old (and dirty) looking house may scare off buyers. But this might be your chance for real estate investing that can yield good profits. So, explore such properties and check if spending a bit on them can make them shine. You can get these at very low prices and make a big profit in a short time. 4) Team up with attorneys: There are a number of attorneys who handle property sales on behalf of sellers or in special circumstances (like the death of the property owner). They might sometimes be looking to dispose off the property rather quickly and hence at a low price. Be the first one to grab such real estate investing opportunities and enjoy the profits. 5) Keep tab on the newspaper announcements: Property sell offs due to deaths, divorce settlements, immediate cash requirements and other reason are frequently announced in local papers. Keep track of such real estate investing avenues. 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 One of the things that many smart shoppers do is to build and maintain a stockpile of staple goods. Items that people stock up on include things like toothpaste, toilet paper, dry goods, and frozen meats among many others. The idea is that by buying items when they are on sale instead of waiting until you need them, you save money. This is definitely true, but do the benefits of stockpiling outweigh the problems that come along with it? For our example we will use Toothpaste. Assume that you have allocated your grocery budget for the month and you have $10.00 left over. You happen to remember that the local store has toothpaste on sale Buy One Get One Free. Toothpaste costs $2.00 a tube, so you are getting it for $1.00 per tube after the sale. You use your $10.00 to buy 10 tubes of toothpaste and now have a mini stockpile. Normally 10 tubes would have cost your $20, but you got it on sale for $10, so you received $20 worth of product for only $10.00. As long as you use the toothpaste before it expires, you have essentially saved $10.00. So saving money is the first of the pros of stockpiling, but there are a few others that are less obvious. First off you now don't have to worry about having toothpaste for a while. If a neighbor needs to borrow a tube, you have it. If the kids are going on a sleepover, you can send a tube with them (and if they are like my kids, you will never see that tube again). Second off if something happens where you can't get to the store for a week or a month, such as a natural disaster or injury, at the very least you will have fresh breath. I know that having a stockpile of toothpaste during an emergency isn't that impressive, but replace that with food or toilet paper and you can see while having a an extra stash on hand would be a good thing. So what are the cons of stocking up? First off there is the storage required by items that you are stockpiling. 10 tubes of toothpaste can be put just about anywhere and not take up too much room. But what about larger items like paper towels? The space required by your stockpiles can quickly grow out of hand and start invading your living spaces. If you are a major stockpiler you will have to convert a closet, basement, garage, or other living areas into storage. Storage becomes a bigger issue when you have frozen goods involved. You can't stick a frozen pork roast into your closet (well you could, but it would become rather unpleasant rather quickly). So you will have to look into purchasing a stand alone freezer to store frozen goods. This increases electricity costs of course, not to mention the cost of the freezer itself. You will have to keep careful track at first to make sure that the savings you are experiencing by stockpiling meat are more than the cost of the electric and freezer. The second argument against stockpiling is whether or not the money you are using for stockpiling for the future could be better spent on something in the present. For instance some people say that instead of spending the $10.00 on the toothpaste you should instead use it to pay down debts. This is a very good argument and I agree with it, to a point. Let's say that you have a credit card bill that has $5000 on it with an interest rate of 11% and a monthly minimum payment of $140.00. This month you take your extra $10 and apply it toward your credit card payment so that you are paying $150.00 instead of $140.00. Will this be a better use of the $10? Remember that we are saving $10.00 in the long run by buying the toothpaste on sale, so will we save more than $10.00 in the long run by using the extra money on our credit card? With an interest rate of 11%, you will pay $1.10 less in interest over the next year because you applied it toward your credit card principal. Assuming you have cut up your credit card and you take 5 years to pay it off, then the extra $10 will save you $5.50 in interest over the next 5 years. As you know, $5.50 is less than $10.00 so buying the toothpaste was a better long run investment than using it on your credit card bill. I only say this because $10.00 is such a small part of your principal. Let's say that you had $200 instead. In that case you will be making a pretty sizable dent in your credit card bill, so you should use it for debts instead of toothpaste (you could actually do both, though). It all comes down to you though, and what you want. Paying off debts should always be one of your top priorities. However you can use smart shopping techniques such as stockpiling and couponing to enable you to achieve the debt free goal! As your stockpile and coupon stash grow, you will be spending less money every month on groceries and THAT money can go towards paying off debts! Becoming debt free takes time. Realizing big savings through smart shopping takes time. But they are both related in that shopping smart makes paying off debts easier. Some people might argue that if you paid off your debts then smart shopping wouldn't be such a priority, but I say Baloney! Smart shopping should be something that everyone does all the time, no matter if you are poor or as rich as King Midas. Spending money when you don't have to is just plain wasteful. In conclusion stockpiling can be a great way to save money in the long run if you have the space to do it and you practice it only when you can save big money thanks to sales or coupons. When stockpiling opportunities do not exist, use the money for debt or savings. As your stockpile grows, you will find the money you have left over every month growing with it, which can be used to shrink your debts. Source by Eric Lynn Summers Tags: retirement,business,financial,services,insurance,glen mills,middletown de,wilmington pike,financial consultant Financial Services Glen Mills PA 19342 One of the things that many smart shoppers do is to build and maintain a stockpile of staple goods. Items that people stock up on include things like toothpaste, toilet paper, dry goods, and frozen meats among many others. The idea is that by buying items when they are on sale instead of waiting until you need them, you save money. This is definitely true, but do the benefits of stockpiling outweigh the problems that come along with it? For our example we will use Toothpaste. Assume that you have allocated your grocery budget for the month and you have $10.00 left over. You happen to remember that the local store has toothpaste on sale Buy One Get One Free. Toothpaste costs $2.00 a tube, so you are getting it for $1.00 per tube after the sale. You use your $10.00 to buy 10 tubes of toothpaste and now have a mini stockpile. Normally 10 tubes would have cost your $20, but you got it on sale for $10, so you received $20 worth of product for only $10.00. As long as you use the toothpaste before it expires, you have essentially saved $10.00. So saving money is the first of the pros of stockpiling, but there are a few others that are less obvious. First off you now don't have to worry about having toothpaste for a while. If a neighbor needs to borrow a tube, you have it. If the kids are going on a sleepover, you can send a tube with them (and if they are like my kids, you will never see that tube again). Second off if something happens where you can't get to the store for a week or a month, such as a natural disaster or injury, at the very least you will have fresh breath. I know that having a stockpile of toothpaste during an emergency isn't that impressive, but replace that with food or toilet paper and you can see while having a an extra stash on hand would be a good thing. So what are the cons of stocking up? First off there is the storage required by items that you are stockpiling. 10 tubes of toothpaste can be put just about anywhere and not take up too much room. But what about larger items like paper towels? The space required by your stockpiles can quickly grow out of hand and start invading your living spaces. If you are a major stockpiler you will have to convert a closet, basement, garage, or other living areas into storage. Storage becomes a bigger issue when you have frozen goods involved. You can't stick a frozen pork roast into your closet (well you could, but it would become rather unpleasant rather quickly). So you will have to look into purchasing a stand alone freezer to store frozen goods. This increases electricity costs of course, not to mention the cost of the freezer itself. You will have to keep careful track at first to make sure that the savings you are experiencing by stockpiling meat are more than the cost of the electric and freezer. The second argument against stockpiling is whether or not the money you are using for stockpiling for the future could be better spent on something in the present. For instance some people say that instead of spending the $10.00 on the toothpaste you should instead use it to pay down debts. This is a very good argument and I agree with it, to a point. Let's say that you have a credit card bill that has $5000 on it with an interest rate of 11% and a monthly minimum payment of $140.00. This month you take your extra $10 and apply it toward your credit card payment so that you are paying $150.00 instead of $140.00. Will this be a better use of the $10? Remember that we are saving $10.00 in the long run by buying the toothpaste on sale, so will we save more than $10.00 in the long run by using the extra money on our credit card? With an interest rate of 11%, you will pay $1.10 less in interest over the next year because you applied it toward your credit card principal. Assuming you have cut up your credit card and you take 5 years to pay it off, then the extra $10 will save you $5.50 in interest over the next 5 years. As you know, $5.50 is less than $10.00 so buying the toothpaste was a better long run investment than using it on your credit card bill. I only say this because $10.00 is such a small part of your principal. Let's say that you had $200 instead. In that case you will be making a pretty sizable dent in your credit card bill, so you should use it for debts instead of toothpaste (you could actually do both, though). It all comes down to you though, and what you want. Paying off debts should always be one of your top priorities. However you can use smart shopping techniques such as stockpiling and couponing to enable you to achieve the debt free goal! As your stockpile and coupon stash grow, you will be spending less money every month on groceries and THAT money can go towards paying off debts! Becoming debt free takes time. Realizing big savings through smart shopping takes time. But they are both related in that shopping smart makes paying off debts easier. Some people might argue that if you paid off your debts then smart shopping wouldn't be such a priority, but I say Baloney! Smart shopping should be something that everyone does all the time, no matter if you are poor or as rich as King Midas. Spending money when you don't have to is just plain wasteful. In conclusion stockpiling can be a great way to save money in the long run if you have the space to do it and you practice it only when you can save big money thanks to sales or coupons. When stockpiling opportunities do not exist, use the money for debt or savings. As your stockpile grows, you will find the money you have left over every month growing with it, which can be used to shrink your debts. Source by Eric Lynn Summers Tags: retirement,business,financial,services,insurance,glen mills,middletown de,wilmington pike,financial consultant |
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