First Financial Coach

Article by hi joiney

(659, ‘ The CBRC announced on its official website quot Consumer br Financial Measures for the Administration of Pilot Draft quot hereinafter referred to as management practices to the community for public comment After one month for comment formal quot Trial Measures quot will be introduced the CBRC in Beijing Shanghai Chengdu Tianjin 4 to choose the pilot for consumer finance companies br br Hold media briefing yesterday the CBRC the CBRC non bank Financial Institutions Supervision Department deputy director Ren Chenqiong introduced such as other city related needs you can continue to apply to the relevant authorities br br So called consumer finance company is approved by the China Banking Regulatory Commission set up in China does not absorb public deposits to small scattered on the principle as the residents of China to provide consumer loans for the purpose of non bank financial institutions br br Chen Qiong said the consumer finance company set up such a new class of financial institutions China 39 s economy from investment oriented to the changing needs of consumer oriented quot through the establishment of consumer finance companies can promote the growth of personal consumption so as to promote manufacturing and retailers production and sales growth and promote the needs of related industries changes in GDP on exports and investment in fixed assets over reliance quot br br To further expand domestic demand According to Chen Qiong introduction the CBRC since the end of 2007 the financial sector to foreign consumer research Earlier this year China Banking Regulatory Commission submitted a consumer finance company set up referrals and experiments approach and solicit the Development and Reform Commission Ministry of Finance the Ministry of Commerce and the central bank the State Council Legislative Affairs Office of the comments The views of the State Council has approved and will begin trial operations of consumer finance companies State Council in Beijing and Shanghai Chengdu Tianjin four cities namely to establish a consumer finance company br br Consumer finance company 39 s registered capital shall be paid one time monetary capital and the minimum amount of 300 million yuan or the equivalent in a freely convertible currency br br Chen Qiong said the registered capital requirements with reference to other non bank financial institutions in China 39 s registered capital requirements Also taking into account the consumer finance company 39 s business volume is not open early if too many demands capital will result in idle funds to increase the capital cost br br Not involving mortgages auto loans Qiong Chen said that in foreign countries consumer finance is all walks of modern consumers with consumer loans br br Service Way in the mature markets and emerging markets have been widely used There are two major consumer finance provider a consumer finance company is a professional there is a traditional commercial bank br br As consumer finance companies not involved in resident deposits corporate capital comes mainly from its own capital After expanding in size consumer finance companies can apply to issue bonds but also to bank loans Single line of credit small professional company approved faster the amount in between a few thousand dollars to several million no security and flexible service short term loans br br Qiong Chen explained that the general consumer loans in order to prevent misappropriation experimental approach provides consumer finance company to release a general purpose personal loans for personal consumption amount the borrower shall not exceed the previous maximum amount of single loan payment Consumer finance companies not to the first company to apply for loans from the borrowers paid personal consumption loans for general purposes This means that only the consumer durables loans had been made reputable customers to get this loan br br Personal consumer durables consumer finance company loans is through the distributors released to the borrower for the purchase of agreed household appliances br br Electronic Products durable consumer goods excluding housing and br Car Loans General purpose loans for personal consumption is the consumer finance company paid directly to the borrower for personal and family travel br br Education Decoration br Matters such as consumer loans ‘)

Article by Raymond Gray

If you are in the market for home finance then the best bet is to speak with a mortgage broker who will have access to a wide range of home finance product and will be in a position to recommend the right home finance for you. Once an experienced mortgage broker has discussed your home finance needs with you and ascertains whether you prefer home finance with all the

Article by Personal Finance Guru

Almost two years ago, my friend embarked on a journey to build her dream home. For Sarah and John, buying the dream house in Sacramento seemed only fitting. Buying a home may be your dream, but you cannot afford to be carried away by emotions only. You are trying to build a concrete home, so you need to be realistic. But not everyone is fortunate enough to have a huge bank balance to tap into. They approached the bank for home loans to finance their home. With a 20% down payment and bank loan they were short of couple of thousands to make that home their dream home. Then one of our neighbors suggested purchase money loan. On doing some research we found out that purchase money loan is a form of seller-financing used in real estate. Instead of a third-party, such as a bank, providing a large sum of money to finance the purchase of a home, the seller simply agrees to let the buyer make installment payments over time. A recourse loan is one in which the seller/lender can sue the buyer/borrower for the balance of the loan if the buyer fails to make payments or defaults on the loan. We approached our seller and he agreed to finance the remaining amount through purchase money loan. Sarah and John could see their next 50 years of married life in their dream house

Nothing is permanent in life, including finding yourself in a bad financial situation. You can have a bad credit rating due to several factors, such as loss of job, irregular and late repayments, and credit card debt. In such a situation, bad credit loans are like an oasis in the desert providing the much-needed money for your various needs. Bad credit loans can be used for emergencies due to hard financial circumstances or for leisure. Moreover, such loans are available even to those people who have bad credit or no credit. Anyone can face credit problems at some time or the other in his/her life and bad credit can happen at any time due to various factors. Even the most financially sound people can suffer from bad credit and if this happens, you should try to get a bad credit loan to tide over your financial predicament. There are two types of bad credit loans: secured bad credit loans and unsecured bad credit loans. Consumers prefer the unsecured type as they do not have to put up any guarantee, although both the types are popular.

Home loans are undoubtedly very important in buying a new house. But there are various other things, which are of important as well. In fact, a home loan checklist is pivotal to the entire process of applying for a home loan. It is that piece of paper that endows you with a great deal of leeway, saving you time and energy. The loan market is a jungle out there and you need to hunt around getting a loan with a best catch. Many people make the mistake of signing up for the first home loan lending company that they come across. But this is where they go wrong. Unless you shop around for the best rates, they are not going to come your way. For every lender who is willing to offer you good rates, there might be another lender willing to offer one percent lower. All that you need to do is search and you will find a better home loan lending company. Another aspect of home loan companies that needs a special mention is that you may want to make sure that you do not have to sign any contract before you read all the fine lines in the contract. There are many companies that offer extremely low rates and then charge you hidden charges. In the end you end up paying more than what you would have ever wanted. Remember, it’s a jungle out there.

With all the worrying news about the economy over the last few years, it’s understandable that people are concerned about the value of their investments and their ability to fund their future, especially their retirement. If this is you, perhaps you’ve thought about turning to financial advisors in London and the Home Counties to find answers to your questions?

There are numerous issues to be considered. How to invest my money to minimise risk and make a good return, how to make sure I’m adequately prepared for my old age, how can I make sure my children are well-provided for, am I adequately insured?

Investing your money in a way that’s both safe and offers an adequate return is vital for your continuing prosperity. However with interest rates at rock bottom, finding safe places to invest is now difficult. Likewise, insurance policies that properly cover us in all eventualities can be hard to identify. And worrying about having enough to enable us to retire comfortably is a concern for everyone. And this is where financial planning professionals, who are highly trained, can offer you effective financial advice.

One area in which a financial planner can offer vital advice is that of inheritance tax planning. Inheritance tax is paid on the assets of a UK domiciled individual who has passed away. Assets include everything from property to cars and cash. These assets can be anywhere in the world and the fact that the individual is not living in the UK doesn’t mean he’s not liable for UK tax.

There are ways to minimise the impact of inheritance tax, including insurance, wills or trusts and making a transfer to individuals, groups or organisations. However this should only be done through careful inheritance tax planning with the assistance of someone thoroughly familiar with the tax system and in conjunction with a lawyer. Essentially, estate planning needs to be done on a case by case basis as everyone’s situation is different.

The need for a tailor-made approach to your finances means you need to find a financial planner who will first analyse your situation and your future goals to produce a custom made solution to handle your financial needs. Only such as detailed analysis can produce the optimum investment advice, retirement and tax planning, and personal insurance advice that are the cornerstones of a sound financial planning system.

Ideally you want someone who will sit down with you and help clarify the big picture regarding your finances. This will include investments, pensions and life insurance with special consideration of your income and tax position. You can then discuss your objectives and attitude to risk which will allow your personal financial advisor to make recommendations about structuring your financial affairs in the most effective manner.

When it comes to looking for a financial advisor, London and the Home Counties has its fair share and the internet has made it easy to find and qualify them. Look at their web sites for qualifications and experience before making a choice. The first thing to check is that the firm is FSA authorised. Companies offering advice on financial products must be authorised by the Financial Services Authority (FSA). FSA authorisation guarantees a certain standard and adherence to certain rules regarding the type of service they offer and how they charge for it. The FSA’s website contains a list of all authorised companies or you can call their consumer hotline to check out a particular entity.

Another sign that a firm is reputable is that it employs advisors with chartered financial planner status awarded by the Chartered Insurance Institute (CII). Introduced in 2006, the title Chartered Financial Planner is awarded after the completion of a suite of qualifications designed to signal to the public that financial advisers and financial planners are ‘fit for purpose’. To qualify, applicants must hold the advanced diploma in financial planning, have five years’ relevant industry experience, adhere to the CII’s code of ethics and conduct, and demonstrate three years’ existing continuing professional development (CPD) and commit to maintaining this activity.

I would like to share with you my 17 Personal Rules of Investing. These are the rules that guide me while I am actively pursuing Advanced Level Five Active Investing. These 17 rules are the rules that have allowed me to build my wealth and reach personal financial freedom. I look forward to sharing them with you to help you on your personal journey to Financial Freedom.

Take a good look at the Rules that you are currently using with regards to money and investing. Are YOUR Rules empowering or limiting your financial success?

And now here are my 17 Personal Rules of Investing. Read, enjoy, and learn! You can enjoy financial freedom from home through real estate investing.

Rule 1 – My Rules

I play by My Rules, not the rules of anyone else. Active Investors know that they must have control at all times. They do not play by the rules dictated by others (such as so called ‘expert’ financial planners, accountants, lawyers, tax planners, brokers and bankers who all too often play by the rules of “It Can’t be Done” or “We Don’t Do That Here”). Active Investors design their own Rules and adapt the world to them rather than complying with and adapting to the rules of others.

Note: this does not mean breaking the law! All that I do, whether in the area of business, tax planning, entity strategies, or investing is all completely legal and above board. There is no room in the business and investing world of the Active Investor (where your reputation is as vital as your skills), for shades of gray. There is no need. Everything I could ever want to do can be achieved using my own rules, within the framework of existing laws, regulations and codes. I only do what is “white as the driven snow.” I strongly recommend you do the same.

Rule 2 – The Twelve Generalized Principles of Active Investing

Always respect and follow the Twelve Generalized Principles of Active Investing. They are the blueprints upon which to build your Rules.

1. Belief
2. Do What You Love/Love What You Do
3. Serve
4. Niche
5. Leverage
6. Lateral Thinking
7. Market Research
8. Efficiency
9. Lag
10. Timing
11. Stewardship
12. Proper Action

Rule 3 – Integrity

In my opinion the most important thing is Integrity. If the people I am playing (working) with do not have Integrity I don’t play (do business) with them. I have found out the hard way that people with questionable Integrity usually turn on you before the deal is done. Remember that Integrity is more important than anything else.

Rule 4 – Know the Rules

Before I play “The Game” I want to know four things: a) the Rules of the Market; b) the Rules of “The Game” (based on my Niche); c) the Rules to ROIAT (Return on Investment after Tax) Maximization; d) My Rules.

Rule 5 – Buy Wholesale

As an investor I know that to make a profit I must buy wholesale (or sub-wholesale) and then resell at retail (or just below).

Rule 6 – Profit at Purchase

Make your money when you buy, not when you sell. When making a decision on what to offer for a property I make a decision solely based on the cash flow or capital gains profit (after expenses). I NEVER include the tax savings or appreciation. I don’t include them because they are unknown, constantly changing and not guaranteed.

Warning: Beware of Salespeople cloaked as Real Estate Agents or Marketers, Stock Brokers, Financial Planners, Investment Advisors, etc. All those fancy charts, brochures and presentations are designed to fool you. Do not ever buy an investment based on “projected yields” or “future appreciation” or “potential tax savings.” That is the “game” of the unsuccessful investor.

Rule 7 – Low Risk Idea

I only have at risk a small percentage (0 – 3%) of MY net worth in any one investment. I do this because even though I have never lost money on an investment, I want to eliminate the possibility (fear) of being financially ruined by a couple of deals gone bad.

Clarification: when I say that I only have less than 3% of my net worth at risk in any one investment I am not saying that I only have 3% invested in total. What I am saying is that I have used Level Five Advanced Investor techniques (Principles and Rules) to limit my downside risk to just 0-3% of any given investment. I generally have at least 90-95% of my investment capital invested at any one time. Just not 90-95% of it at risk! I minimize my risk by following proper money management risk reduction strategies.

Rule 8 – Other People’s Money

I use OPM (Other People’s Money) whenever possible. Leverage allows me to do far more transactions than I ever could on my own. Remember, it’s always better to have a piece of the pie than none of the pie.

Rule 9 – Money Back

I structure my transactions so that if I have money in the deal I get all of it back in the quickest possible time. Remember, one of the major keys to money is to have it work for you and once you have your initial investment back your money is working for you at the rate of return of infinity. On most of my transactions I have all of my money back within the first year.

Rule 10 – Don’t Wanters

I buy from people who really do not want their property.

This means that I generally buy my properties from highly motivated sellers (trustees of deceased estates or bankruptcies, liquidators, vacant houses, mortgages in possession, trustee sales, foreclosures, etc.).

If someone does not want their property they are much more likely to be flexible on their price or terms to dispose of it. You are entering the market on Wholesale Price and/or Wholesale Terms which will allow you to easily determine your Profit at Purchase.

In any market, no matter how good, somewhere between 2-5% of sellers are highly motivated to sell.

Rule 11 – Cash Flow

Although I often acquire properties solely to turn them around for a capital gain, I prefer to make as much of my profit as I can in the form of Cash Flow. Note that I NEVER negatively gear a property.

Rule 12 – Define the Investment

When it comes to Real Estate I prefer to invest in single family homes that meet my criteria or definition that I have very clearly laid out:

• Priced 20% or more below the median;
• 3 bed/ 1½+ bath (1000-1500 sq.ft. /100-160 sq.m.) (or whatever is customary and usual in your area);
• Covered Parking;
• Fenced Yard;
• Livable Condition;
• Acceptable Neighborhood;

Rule 13 – No Emotions

When I invest all I care about is the Return on Investment after taxes. The only thing that matters is the Bottom Line. I don’t care what color the carpet is or about the pretty garden. Just give me the numbers. When it comes to investing, the numbers are the most important thing. Emotions play a very small part. I always tell students who are calling for assistance “Don’t tell me about the house. Tell me about the numbers.” “So be like the professionals. Don’t get emotionally involved. Get Rich instead. Remember the key to investing is focusing on “Them Money and The Numbers”.

Rule 14 – Ride the Winners and Cut the Losers

I have found that most people do the exact opposite. They often do this because of the recommendations of their “Professional” advisors. This happens because stockbrokers are trained to tell you to “sell” when you make a small profit.

The bottom line being, the broker wants to make more commission when you sell and then reinvest (over and over and over). How often have you or someone you knew, sold an investment for a respectable profit only to see the investment continue to go through the roof? How often have you held on to an investment despite the fact that it was a “Dog”, hoping that some day it would come back? Tom investors “Ride the Winners and Cut the Losers”. They do this primarily through strict money management and tight control over their own investment psychology. You should do the same.

Rule 15 – Invest Long Term

Most people look at far too short a time frame in regard to their investments. They spend much time chopping and changing, running around looking for the next “Get Rich Quick” scheme or hot investment. The reality is that there are very few surefire and rapid-fire roads to Riches. Rather, the majority of Get Rich investments take time to bring home large returns.

When I invest, I primarily do so for the long term. I am not interested in “spending” assets after short or mid-term gains. I am looking towards my longer-term goals of wealth-building and stewardship of my assets. Most of the best investments carry with them the power of compounding and Lag and are not designed to be readily capitalized upon over the short term.

When you assess an investment, be clear on your goals and your Timeframe. Do not ignore an investment simply because you believe its benefits are not instantaneous. Check the numbers and understand the power of money invested over time. Building wealth takes time. Invest for the long term.

Rule 16 – Open Mind to Adapt My Rules

Always be prepared, based upon your Market Research, to adapt YOUR RULES to a changing market to your own best advantage. Many investors fail dramatically due to dogged determination to stick to timeworn, but inflexible investment techniques or attitudes.

You must always keep an open mind in relation to the expectations and changes of your market.

Rule 17 – Continuing Education

Keep current on your Market Research at all times and practice your skills of Lateral Thinking to keep up with or anticipate the changes. I am constantly attending seminars, reading and learning. Throughout the world I seek out the best teachers and information I can find. I then pay to attend their seminars as a student to learn what they have to teach.

I strive to continually learn more to improve myself, my relationships, my psychology, my business and my investing. I accomplish this by attending seminars, listening to tapes, watching videos and reading. Education is an ongoing process and I strongly encourage you to continue your learning.

Winning the Investing Game

I recommend that you take a good look at how your Principles and Rules compare with top investors. Emphasis those things you are doing right and learn from those things that you need to change. I know that if you apply the Generalized Principles and follow YOUR RULES that you will WIN the “Money Game” and achieve financial freedom from home!

With all the worrying news about the economy over the last few years, it’s understandable that people are concerned about the value of their investments and their ability to fund their future, especially their retirement. If this is you, perhaps you’ve thought about turning to financial advisors in London and the Home Counties to find answers to your questions?

There are numerous issues to be considered. How to invest my money to minimise risk and make a good return, how to make sure I’m adequately prepared for my old age, how can I make sure my children are well-provided for, am I adequately insured?

Investing your money in a way that’s both safe and offers an adequate return is vital for your continuing prosperity. However with interest rates at rock bottom, finding safe places to invest is now difficult. Likewise, insurance policies that properly cover us in all eventualities can be hard to identify. And worrying about having enough to enable us to retire comfortably is a concern for everyone. And this is where financial planning professionals, who are highly trained, can offer you effective financial advice.

One area in which a financial planner can offer vital advice is that of inheritance tax planning. Inheritance tax is paid on the assets of a UK domiciled individual who has passed away. Assets include everything from property to cars and cash. These assets can be anywhere in the world and the fact that the individual is not living in the UK doesn’t mean he’s not liable for UK tax.

There are ways to minimise the impact of inheritance tax, including insurance, wills or trusts and making a transfer to individuals, groups or organisations. However this should only be done through careful inheritance tax planning with the assistance of someone thoroughly familiar with the tax system and in conjunction with a lawyer. Essentially, estate planning needs to be done on a case by case basis as everyone’s situation is different.

The need for a tailor-made approach to your finances means you need to find a financial planner who will first analyse your situation and your future goals to produce a custom made solution to handle your financial needs. Only such as detailed analysis can produce the optimum investment advice, retirement and tax planning, and personal insurance advice that are the cornerstones of a sound financial planning system.

Ideally you want someone who will sit down with you and help clarify the big picture regarding your finances. This will include investments, pensions and life insurance with special consideration of your income and tax position. You can then discuss your objectives and attitude to risk which will allow your personal financial advisor to make recommendations about structuring your financial affairs in the most effective manner.

When it comes to looking for a financial advisor, London and the Home Counties has its fair share and the internet has made it easy to find and qualify them. Look at their web sites for qualifications and experience before making a choice. The first thing to check is that the firm is FSA authorised. Companies offering advice on financial products must be authorised by the Financial Services Authority (FSA). FSA authorisation guarantees a certain standard and adherence to certain rules regarding the type of service they offer and how they charge for it. The FSA’s website contains a list of all authorised companies or you can call their consumer hotline to check out a particular entity.

Another sign that a firm is reputable is that it employs advisors with chartered financial planner status awarded by the Chartered Insurance Institute (CII). Introduced in 2006, the title Chartered Financial Planner is awarded after the completion of a suite of qualifications designed to signal to the public that financial advisers and financial planners are ‘fit for purpose’. To qualify, applicants must hold the advanced diploma in financial planning, have five years’ relevant industry experience, adhere to the CII’s code of ethics and conduct, and demonstrate three years’ existing continuing professional development (CPD) and commit to maintaining this activity.