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Adverse Credit Personal Loan – Symbol Of Freedom

Poor credit can turn your good times to bitter and leave you in a financial mess. Persons who have experienced this phase are aware that there is a lesser possibility of getting financial aid from banks, financial institutions and money lending sources. However, this is no longer an issue considered hazardous by lenders. They have opened all their advantages under the banner of adverse credit personal loans. So, if you desire to meet personal demands in the circumstances with unfavourable credit consider a adverse credit personal loan.

In this loan an individual with bad credit gets an option to borrow funds as per his necessity. And this option is bestowed with secured and unsecured form, which would not be possible in the past years. Secured form is mainly concerned with collateral and its repayment is stretched from 10-25 years. The collateral is for the purpose to serve as security against the loan amount. Lenders identify assets as collateral which carry monetary value, so your collateral should be worth monetary value. If you are reluctant or unable to place collateral then click the decision to unsecured form. This form will let you get amounts from £1,000 to £25,000 with a reimbursement course of 1-10 years. Both the option resembles two sides of the same coin. Most surprisingly, this loan can be opted and even approved when you have missed some payments on a previous loan to banks or financial institutions. This is an aid conferred to persons having mortgage arrears or County Court Judgement (CCJs) against them or even disputes with your credit cards.

It is estimated that 1 in 4 people have bad credit history. And, as a result they sought a loan. But now, they can easily grab the adverse credit personal loans and according to their budget and convenience with the help of quotes. You can acquire all the details pertaining to a loan scheme in the quotes. So, if you collect quotes of different lenders then you can figure out the lowest offer prevailing in the market. Furthermore, if you seek the assistance of loan calculator then you can even draw results of the monthly instalments that you will have to pay. A loan calculator is an online instant service. The calculator helps you to figure your monthly instalments (by inserting the loan amount, rate of interest, years of reimbursement). All services related to adverse credit personal loans are available online.

Interest rates of adverse credit personal loans are calculated taking various aspects into consideration. Lenders are aware that in such a situation, levying higher rates will directly increase the monthly burden on bad creditors. Thus, considering such facts, interest rates are tabled is a reasonable manner. For more reliable figures of interest rates, make use of the provision of the online quotes and loan calculator.

The usages of adverse credit personal loans are varied. In a single loan and at single cost, you can easily disperse and erase the chapters of bad credit from your life. You can also stabilize your credit from being more worrisome. Thus, with the funds you get an opportunity without difficulty to build a healthy financial report. You can also utilize the funds in meeting some of your personal ends by following a rational budget.

Adverse credit personal loans can be symbolized as the door of a new phase of your life minus the bad credit and financial instability.

 

Experiencing Financial Difficulties? Get a Bad Credit Personal Loan

Bad Credit Personal Loans will come to your aid

For those with bad credit score, bad credit personal loans can be a blessing. It is true that they aren’t the cheapest source of finance, but they are probably the only one available for those with less than perfect credit. It may take a couple of years for someone with bad credit to become debt free again after requesting a bad credit personal loan for a high amount, yet, the monthly payments will be affordable.

The solution to Lack of Cash and Bad Credit

Imagine this situation: Something happened and you suddenly need an extra amount of money that you can’t afford with your savings. Home improvements, Something that needs repairing, a baby arrival, a car breakdown, a marriage, a sudden illness are all examples of such a situation. The solution is clearly, finding a source of finance.

However, regular financial institutions won’t lend to you due to your bad credit, banks won’t lend to you either because you have too many late payments on your credit report, because you’ve missed payments on an outstanding loan or credit card or because you’ve a past bankruptcy on your credit history. Does it sound familiar?

There is nothing to worry about, bad credit personal loans can solve your financial difficulties and they are specially tailored for those who have stains on their credit report. As stated before, it is not a cheap source of finance but then again, it is a source of finance that is actually available for you.

Be careful with scams and the vicious circle of debt

Those who need financing and have bad credit tend to be in a rather desperate situation. Unfortunately there are some companies that take advantage of this either in a legit way or by illegal means. You need to be careful not to be taken in by such companies. Only intermediaries charge commissions or fees when getting you in touch with a lender but actual lenders will never ask for money in order to provide a loan. If someone claiming to be a lender asks for money it is probably a scam.

Financial consultants have a particular name for a very common situation. A “vicious circle of debt” takes place when a borrower can’t repay the loan he requested and applies for another one in order to repay the previous one. For obvious reasons, the interest rate charged for the new loan will be higher and the original debt will have grown, if the borrower can’t repay the new loan he will have to request another loan and debt will keep growing till no more loans will be approved and since repayment won’t be feasible, the borrower will have to consolidate his debt or file for bankruptcy.

If you are in need and have to request a bad credit loan, don’t be afraid, do your research and apply to one of the many online bad credit loan lenders available. However, once your situation is solved, make arrangements so you can cut your expenses to repay the loan as quickly as possible and save enough money so next time you won’t have to resort to loans for bad credit whenever you need extra cash.

How Crowdfunding Can Help Pay Medical Bills

Crowdfunding can help pay for medical bills… it really is that simple. You can crowdfund for just about anything, including medical bills. Many times people are placed in a medical crisis and aren’t sure where to turn. Medical bills can accumulate in no time and medical bankruptcy is a real thing. You’d be amazed by how many people in “your own crowd” are willing to help.

In a study published in January 2014 from the Center For Disease Control (CDC), one in four families experienced financial burdens of medical care.

This “financial burden” of medical care equates to medical bills that they can’t currently pay and are forced to pay monthly over time.

This study goes on to share that families with lower incomes were more likely to experience the financial burdens of medical care. Those families with incomes at or below 250% of the federal poverty level had the highest levels of any financial burden of medical care.

250% of the federal poverty level (based on guidelines for 2013) means that a family of four with an annual income of $58,875 or lower were at the highest level of the population feeling the financial burden of medical care for a loved one. That’s our middle class America. Those are the families living paycheck to paycheck and not prepared for a medical crisis.

The is a baby with his eyes closed and an oxygen canula in his nose. He was born with a bad heart, a weak immune system, and problems eating which caused a condition labeled by doctors as “failure to thrive”. Isaac spent the first year of his life in and out of hospitals in Las Vegas and at Stanford where he underwent multiple heart catheterizations and procedures, open heart surgeries, and had a feeding tube placed surgically to ensure he received the proper amount of nutrients. Isaac’s family had great insurance, covering 80% of all medical costs. But, they still spent over $100,000 out-of-pocket the first year of his life in deductibles and medical related expenses.

Shocking… right?

I know… My name is Kathy, and I’m Isaac’s mom.

I remember people asking us if they could have fundraisers for us, give us money… they would offer to do anything just to help. At that time, I could not have imagined the costs that we would incur, nor could I imagine all the things that insurance doesn’t cover. You assume that you pay for insurance, you’ll have a deductible… The End.

If that were only so.

Words of Advice:

Start a Crowdfunding Campaign Immediately

Don’t be too humble to let other people offer to help you. You really can’t imagine the costs of things in the medical world and how they add up. It is TOO hard to think about money when you’re talking about the healthcare of someone you love. You want anything and everything done… you’ll worry about the bills later.

From a Mom that’s Been There

Don’t expect the people in the middle of a medical crisis to be thinking clearly (well, I sure wasn’t). If you’re related to the family or just a loving friend… talk to them about the medical bills and the reality of the situation. Talk with them about what they need now and what their needs may be in the future and help them come up with a budget and plan to get everything their loved one needs. From bills, equipment, therapy sessions… even therapy dogs, all these things can be a necessity now or in the future.

How exactly will crowdfunding help pay my medical bills?

Well, they can’t send a check to the hospital for you, but they can offer you a platform that will help you tell your story as well as share it with your friends and family. The right crowdfunding platform will provide support for you all along the way, from guidance writing your story, picking pictures to post, sharing on the social media channels, and even help writing press releases to get national exposure.

Crowdfunding can help you pay for your medical bills by allowing YOU to take care of your family and letting your “crowd” help YOU. Donations will be made by people you have inspired and want to help you. These people will have a platform to donate to you on their schedule and an amount that is within their means. They will be assured that the funds are going directly to YOU and not an anonymous organization.

You are not alone in your medical crisis. Crowdfunding is a viable source for helping to pay for medical bills and other medical related necessities.

The Process of Car Repossession – Understand It So It Doesn’t Happen to You

In a perfect world, things would always go as they should.

Sometimes that’s just not the case.

If you’ve found yourself in a bind or on the verge of falling behind on your payments. The best thing to do is contact your credit card, mortgage or auto loan companies and explain your situation.

Take action

If you have a car loan, you understand the importance of paying your loan on time. If you cannot make your payments on the exact due date.

You are granted a 30-day grace period to make a payment without having this late reported to the credit bureaus.

If you don’t think you’ll be able to make a payment before the 30-day grace period ends or foresee yourself being in a bind that will last longer than 30 days, there is something you should know.

Ignoring calls from your creditor is the wrong route to go.

*While you may feel embarrassed or reluctant to contact your creditor, you are not alone. Thousands of people fall behind on their payments due to financial hardships. The person on the other end of the phone is trained to handle these types of calls and will be more than willing to help you the best way they can.

What should you do?

Most car loans have a stipulation that allows you to defer your payments for a short amount of time while you get your finances situated. Other options besides deferment might be offered such as lower payments until you can make the full payment.

Your options will depend on your specific car loan and terms agreed upon at the time of sale.

If you are currently in good standing:

Call your creditor and explain that you’ve had some setbacks and ask about your options to defer your loan payment until you can make payments. This will usually give you about 2 months to catch up.

If you are currently not in good standing(late beyond 30 days):

Call your creditor back and explain that you’ve had some setbacks and would like to make a plan to catch up on your payments or defer a future payment. Ask about your options to defer your loan payment until you can make a payment. You will usually be asked to make your account at least current up to 30 days before a deferral can be granted.

How will this help you?

Car repossession doesn’t end well for anyone. Not you and certainly not your creditor. Once a car is repossessed, it is usually sold at an auction for a fraction of the cost. This is a lose-lose situation for everyone.

While your loan is in deferment you will not be reported late to the credit bureau as you have made an agreement with the company to pay at a later date.

The downside to this, of course, is that your loan agreement will be extended and you will end up paying more interest in the long run. This is, however, a better alternative to having your vehicle taken.

When can your car be repossessed?

It all depends on the specific car loan you have in place. You are usually considered in default of your loan agreement as soon as you miss a payment.

With that being said, you are granted a 30-day grace period. Some states allow cars to be repossessed after one missed payment. The longer you take to make your payment is one step closer to having your car taken and a serious ding on your credit report.

A repossession will remain on your credit for up to 7 years and hurt your chances of obtaining other car loans in the near future. Even after a repossession, you may still owe the difference between what you owed your lender and what your car was sold for. This is called a deficiency balance. A deficiency balance is usually the norm especially if you purchased a newer vehicle.

Please note that these options are for those experiencing temporary hardships. It is not recommended for long-term foreseeable situations.

All You Need to Know About 2 Wheeler Loan Finance

With growing demand in semi urban and rural areas, 2 wheeler industry is a high growth sector. The industry is estimated to be Rs.6, 000-Rs.7, 000 crore in size. This means there is abundant opportunity for 2 wheeler finance companies. There was limited awareness about financing for a 2 wheeler in the olden days but with the increasing penetration of financial institutions across the country, it has become possible to obtain 2 wheeler finance quickly and conveniently.

Getting 2 wheeler loan finance has become easy. The eligibility criteria, documentation requirement and the process has been mentioned below:

Eligibility:

Individuals above the age of 18.
Salaried individuals who have been employed for more than a year.
Business owners who are running a business for over a year.

Documentation:

Identity Proof
Address Proof
Income Proof
Valid KYC documents
Passport size photographs

Procedure:

In order to apply for 2 wheeler loan finance, the applicant needs to scout the market for various Banks and financial institutions offering the loan. Based on the terms and conditions of the respective financial institutions, the applicant should choose the one that suits his requirements. The application process is quick and transparent. The applicant needs to meet the eligibility criteria in order to apply for the loan. Further, the applicant needs to submit the application form and provide the required documents to the financial institution. The customer executives are friendly and will guide through the entire process of application. The application will be processed within 48 to 72 hours and the loan will be approved in no time.

It is advisable to seek a loan from a trustworthy financial institution. They offer flexible tenure and easy repayment options. With a low rate of interest and a flexible repayment tenure, purchasing a 2 wheeler has become quick and easy. Individuals with a positive credit history can get the loan approved quicker and are also eligible for the special schemes. Once the loan amount has been disbursed, it is not possible to change the tenure and amount, hence it is important to give the loan application a good thought and settle for a repayment tenure which is possible based on the monthly income of the applicant. Financial institutions offer customized solutions to the applicants based on their requirements. Depending on the type of 2 wheeler to be purchased, the loan amount will be sanctioned.

The applicant will only be required to pay a small amount as down payment and the balance can be converted into a 2 wheeler loan which is to be repaid in easy monthly installments. Upto 95% of the on road price of the vehicle is available as a loan to the applicant and the repayment tenure ranges between 12 months to 48 months. With the increasing demand of 2 wheelers across the country, Banks and financial institutions are offering loans which meet the requirements of the consumers and they also settle the terms accordingly.

Some of the Biggest Mistakes When Looking For a Motorcycle Loan

The Essentials in deciding On Motorcycle Loan.

Sometimes the necessity or excitement of owning a motorcycle cast a bad spell on our buying decisions, especially when the purchase form is a loan. So, before making that impulsive mistake only to regret later consider these essential factors when deciding to apply for a motorcycle loan.

  1. Interest Rates:

The moment you think of a loan, the interest rate coupled with it should ring a bell. Most often attract interest rates over shadow the risk factors involved. Always begin with good amount of research and comparison of interest rates. You do not want the burden of high interest rates steal the joy of riding your new bike!

  1. Smart negotiation:

When you are about to make a purchase decision, do not merely focus on the form of payment and negotiate on how you intend to go about it. A smart negotiation effort would include, negotiating on the payment. Payment always precedes the payment method!

  1. Loan Inclusions:

Discuss with the lender all the accessories that the loan is inclusive off. You do not want to pay additional bills besides paying off your loan. The wiser discussion and decision would be to know about the inclusions and the exclusions of the loan you have applied for.

  1. Loan security:

Always consider what is at stake should you face difficulty in paying off your loan. Some lenders hold the purchased motorcycle as the security, failing to pay will mean ceasing your bike. Some other lenders may consider other collaterals as security. Unsecured loan plans are other alternatives but comes with a high cost of increased interest rates. So, your loan security should be well thought through deliberate decisions considering all the risks involved. You do not want to risk something in vain!

  1. Loan penalties:

Pause before you sign your loan agreement. Although knowing the details of the penalties tailed to your loan amount can be cumbersome and you want to skip through it, it may not be the best of your decision. At best, avoid signing loan agreements that come with stringent penalties. A decision in time, saves you from a future disaster!

  1. Easy loan termination:

Most lenders allow early clearance of your loan and some do not. It is best for you to verify the termination policies before you sign that loan agreement. You do not want to pay with interest rates, while you own the money to clear a credit.

Owning a motorcycle is useful as well as exciting, but what is more important is sustaining both while using it. Using the right loan tailored to your needs is worth every effort.

Hidden Advantages of Outsourcing Services for the Car Loan Industry

Let us face the reality that today, we live in a ‘do-it-yourself’ way of life. As they should, people want to show off their auto repairs, home improvement projects, and many other tasks that majority of us would more often not seek professionals to perform the task, as they just prefer to do it by themselves.

It is absolutely a great value in a number of ways. You can gain expertise from your experience. Sometimes, it does not necessarily mean that it is a better way to go from doing something by yourself because oftentimes, it pays more to hand over and look someone for help.

Many of the car loan businesses are beginning to worry about not only getting in the game but also in maximizing their returns with all sizes racing to compete in the lending market. To outsource car loan business services, many industry experts understand that it is often considered more cost-effective.The most obvious reason for doing this is because industries don’t have to hire new staffs or underwriters solely for car loan operations and services. You have to keep in mind that those industries are also avoiding the other expenses related to assisting the infrastructure associated with an internal underwriting team.

But the advantages don’t stop there because there are a number of hidden advantages that many businesses fail to consider when entertaining ideas of outsourcing their car loan business processing that includes staffing and funding. Here are some of the hidden advantages of outsourcing for car loan business:

Increase the Number of Loans that Leads to More Net Profit

Just consider it as any consumer business committing to sales. As this dealer management is all about being able to see, looking for your niche and catering your offers to the biggest needs of your dealers. Better and stronger relationship with dealers and having more dealerships in the network in order to drive portfolio growth is one of the end goals of outsourcing some services when you are in the car loan business.

Improved Relationships with Customers

Your staff will be able to intensify its focus on strengthening relationships with your customers- making visits, gathering feedback and better addressing their needs that will drive growth for your car loan business portfolio.

A Guideline that Allows the Outsourcing Provider to Serve as an Extension of Your Car Finance Team

Your outsourced car loan provider should be able to efficiently, quickly, and easily customize its financing scorecard to fit your representation. By doing this, it guarantees that making a decision for car loan financing is consistent and fits your appetite and business plan.

Access to Consultation and Expertise

It allows your business to avoid common pitfalls that businesses fall victim to when trying to get in-house functions off the ground when outsourcing your car loan business processing. Through outsourcing, those businesses must hire the expertise that is readily available.

After-Hours Process

By waiting until the next business day to respond to proposals, don’t miss out on those deals especially over the weekend when many consumers have time to hunt for motorcycles, cars, and trucks.

It will absolutely offer a significant benefit over businesses with in-house operations that are confined to traditional business hours when you have an access to after-hours processing service.

Are you ready to revolutionize the way you do business? Grow your business by outsourcing.

Systematic and Unsystematic Risks: How to Mitigate Them

There are always risks in the business world. Understanding these risks enables us to seek the most effective approaches to mitigate them. What are these risks and how can they be categorized?

There are two major components of risk: systematic and unsystematic. Let’s explore each risk and learn the best way to mitigate it.

Systematic Risk
Systematic risk, also known as “market risk” or “un-diversifiable risk”, is a result of external and uncontrollable variables, which are not industry or security specific. Generally unavoidable, it affects the entire market leading to the fluctuation in prices of all the securities. The risk can be attributed to a number of broad economic factors such as inflation, changes in interest rates, fluctuations in currencies, recessions, etc.

Since systematic risks cannot be controlled, investors can avoid them by staying away from all risky investments.

Financial Planning- Mitigating Systematic Risk
Systematic risks can be mitigated with certain courses of action. How can they be mitigated?

Asset allocation can partially mitigate systematic risks. Owning different asset categories (i.e. bonds, cash, commodities, etc.) with low or zero correlation helps because they reach differently to macroeconomic factors; some asset categories may increase and others may fall.

Asset allocation should also be adjusted according to valuations. Investments that are overpriced should be avoided or owned less. When mitigating systematic risks within a diversified portfolio, cash may be the most important and under-appreciated asset category.

Another way to reduce systematic risk is through hedging. Investors can use options such as purchasing protective puts on their securities. A protective put is risk-management strategy that investors use to guard against the loss of unrealized gains. Put value will rise if securities value drops. However, options are for a certain time and once they expire, investors need to buy new ones to stay hedged.

Unsystematic Risk
In contrast, unsystematic risk refers to risk factors that are specific to a company, industry and sector, and can be controlled to a certain degree. These factors include a company’s management, financial practices, financial health, and its competitive position in the market.

Financial Planning- Mitigating Unsystematic Risk
Unsystematic risk can be reduced by diversifying. To achieve this, the investor can diversify its product portfolio so the revenues are not solely dependent from a few products only. Much risk is reduced when an investor’s risk is spread among different industries (such as banking or healthcare) and asset classes. For example, if an investor owns a diversified portfolio of more than 10 individual investments as opposed to only one, the damage done to their portfolio is minimized when something negative happens to some of the companies.

Again, unsystematic risk can be nearly eliminated by diversification as it is not correlated to market risk.

Both systematic and unsystematic risks are part and parcel of businesses. Through risk management solutions as mentioned above, these risks can be partially mitigated, and investors will be able to see an increase in portfolio returns and optimization in investment portfolio.

Seven Cures for a Lean Purse

1. Make your purse – or wallet – get fatter.

That doesn’t mean filling it with receipts for all the items you’ve bought with your credit card. It means, fill your purse with money. And the best way to do that is to spend less than you earn. This cure follows from the first law of gold that we looked at last week: aim to save 10% of your income. Minimum. Save more than that if you can. Save for the long term, for your mortgage deposit or pension, depending on where you are in life. If you need to save for short to medium term things, such as a holiday or car, that should be in addition to and separate from the 10%+ that you save for your long-term needs.

Your 10% can include your pension contributions, ISAs, premium bonds or any kind of high interest/restricted access savings account. With compound interest, your purse will get very plump over the coming months and years, even if interest rates remain low.

2. Control your expenditure.

If you’re going to save at least 10% of your income for the long-term, you must make sure that your current spending is no more than 90% of your income. This means wherever you are on the income scale, you’ll need to apply some self-discipline when it comes to treating yourself and your loved ones.

For a start, keep your credit card(s) for emergency use only, and if you do use them, pay them off before you start racking up interest. Similarly, avoid taking out loans, unless you can justify the interest you’ll end up paying for that privilege. A car acquired on one of the popular leasing schemes can be justified if it’s essential for your work or business. But a loan for a holiday? Staycation would be a better choice. Learn to distinguish between wants and needs. A roof over your head and food on the table are needs; a month in the Maldives is a desire. Treat yourself to that when you have saved 10% of your income for a year or two and you can afford to fly off to paradise without dipping into those savings.

The secret to controlling your expenditure is to build a budget and then stick to it. If you have Microsoft Excel you can download a template to help you track your spending over a week or month. You can also find ready-made templates on the internet or apps for your phone. Work out how much you spend on mortgage, rent, travel to work etc. and set yourself limits on items such as eating out, entertainment, travel etc. This will help you keep below 90% of your income.

3. Make your money multiply.

You are looking for steady returns over the long-term, not a lottery win. What you need is a steady increase in your capital, your core wealth, such as compound interest from an ISA or savings account, or – more risky – dividends from shares you hold in well-managed companies, including your employer, if they have an employee share ownership scheme. If you are not an expert in financial products and investment vehicles, find someone who is. Don’t make any commitments until you talk to a professional financial adviser. Explain what your investment goals are and ask them to help you develop a plan for realising achieving them.

4. Guard yourself from loss.

The sickening nightmare of seeing your dreams of wealth turn to dust as Bitcoin plummets or the bloke you met in the pub the other night disappears with your life savings. One way to guard against loss is to make it an unbreakable rule that you do not touch that core wealth that you are saving and investing for the long-term. Keep a ring of steel around that! If you are tempted to try your luck with Bitcoin or currency trading, only use money that you can afford to lose. That means any money that you have left over after you have saved your 10%, paid the bills and filled your belly. Money that you might otherwise spend on nights out can be handed over to the online bookies, if you can budget for it – see the second cure above. Never use a credit card or a loan for spread betting, gambling or any high risk investments. Before you engage in any high risk investing or betting, though, make sure you have thoroughly researched the field and that you understand what you’re getting into. If online poker is your dream, practice with your mates for match sticks first.

5. Make your home a profitable investment.

Owning your own home (and ideally a few buy to let properties) has become an obsession over the last thirty or forty years. Given the way property prices have ballooned over that time, it makes perfect sense to get on the property ladder as soon as you can, particularly when house prices are increasing at a much faster rate than incomes.

However, be aware that at some point the bubble may burst. Yes, people have been saying that for years and it hasn’t happened yet. But it is becoming increasingly likely that the authorities will take steps to let some of the air out of the property market. Potential measures include revaluing property tax bands and punitive taxes on buy to let properties and properties left empty. A major increase in house building is unlikely to have much impact on house prices by itself, but when combined with the potential tax changes, we could see prices reach a plateau and stay there for some time.

Given all that, the best approach is to find an affordable house or flat in an area where you would like to live for the foreseeable future, bearing in mind such things as local amenities, schools and the journey to work. Think also of the benefits of paying a mortgage and gradually acquiring total ownership (leasehold and freehold issues aside) of your home over 25 or 30 years, compared with being beholden to a landlord who can raise the rent or evict you at a month’s notice, and who will still own the roof over your head despite all the £000s you put in his or her pocket.

If you can’t afford to buy outright in the area where you want to live or work, consider such options as shared ownership and self-build. Check out what schemes are available in the area where you want to live.

If you already own your own home you can use it to generate extra income by taking in a lodger. If you live in a major city, a good source of lodgers is contractors – professional people working on a project local to you who need a place to stay for a few months and don’t want to use hotels. Often they will go home for the weekend so you have the place to yourself. Another option is to take in exchange students. They will usually come in for a week or two. You provide them with a bed, breakfast, a packed lunch and an evening meal, and get paid for doing so. Another option is to use your home for holiday lets while you’re on holiday yourself. This works particularly well if you live in a major city or a historic town.

Even if you rent, take a lodger (if your landlord will allow this) or run a home business (see below). You can still make your home a source of extra income, even if you don’t own it.

Two other things to consider. First, home and contents insurance. Make sure you have adequate cover for the worst that can happen: fire, flood, burglary. Second, if you have a mortgage, look at insuring it against unemployment and illness. Take advice and make sure that any policies you take out are fit for purpose and will pay out if the worst happens.

6. Develop a future income.

Who wouldn’t want to wake up in the morning knowing that whatever happens, they are assured of a steady income for eternity? Well, you can achieve this through your long-term savings, that 10%+ that you put by month after month, year after year.

When you talk to your financial adviser (as you must!) about your saving and investment goals, the first two issues you should focus on are a pension for you (and your partner, if you have one) and providing for your family when you’re no longer around, i.e. life insurance. Your financial adviser should also point you to other investments that can deliver additional income for you and your family, such as ISAs, unit trusts and government bonds.

Your aim is to ensure an adequate income for a long old age. Remember, people are living longer, but not always healthier. It’s not pleasant, I know, but think about the worst that can happen to you (short of an early death). You or your partner become chronically ill or disabled and need long-term care. How will you fund that? If you sell your home what will you leave to your children. This is the kind of issue you need to discuss with a financial adviser. You need a pension, plus other income streams, that will pay for all your needs for perhaps thirty or forty years after you stop working. Develop a plan, implement it, then get on with enjoying life.

7. Increase your ability to earn.

There is no such thing as a job for life anymore. These days, even professional occupations such as lawyer, accountant and insurance underwriter are threatened with automation and off-shoring. So, it makes sense to develop additional skills that you can make use of if you find yourself out of work.

If you think you’re at risk of being replaced by a robot, you should look very carefully at “future-proofing” your career. Think about jobs that are unlikely to be automated or off-shored in the future. They tend to be ones that involve face to face contact e.g. complementary therapies, nail technician hair stylist, personal trainer, life coach, counsellor. Also, jobs where a local presence is essential: electrician, plumber, lock-smith, builder.

Of course, many of these jobs are relatively low-paid and are in highly competitive sectors. That means you need to find a unique selling point: something you do that no one else does, or no one else does as well as you. Focus on something you are genuinely interested in – or better still, passionate about – and that you know you can be brilliant at. Be realistic about the potential income, the competition and the time and energy needed to make it work. Unless you already have experience in your chosen field, you will need to devote a lot of time, and perhaps money, to acquiring the necessary skills and certifications. You will also need to decide how you will operate: sole trader, limited company, franchise? Take advice before committing yourself to anything.

A popular option for generating extra income is online selling. Even if you’re in full time work and happy with your income, you can try it in your spare time and get a feel for what’s involved. A regular declutter will reveal all sorts of things you can sell: clothes, DVDs, mobile phones, unwanted presents. If you enjoy online selling, you could develop a successful business without risking your core capital.

Which Cash Flow Quadrant You Are In

A great number of people don’t have an idea of Cash Flow Quadrants. Are you one of them? If yes, no problem. Today, we are going to have a look at the same which have divided all the population of our world in different classifications. These cash flow quadrants are:

E Quadrant: You have a job and works as an employee for a company/organization

S Quadrant: You are self-employed and own your job

B Quadrant: You are a business owner and have a team to work for you

I Quadrant: You invest money in different businesses and money works for you

This gives you a very clear picture of what classification you are in and the financial status you have right now. Most of all, these four quadrants have four different mindsets and values. Many people will be surprised to know that. Let’s take a detailed look at it:

E Quadrant:

E stands for ’employee’. More than 65% of the total population around the globe comes under E quadrant. These people work for others. You have heard the elders advising you like: study whole heartedly, have good marks and grades, and you will get a handsome job. Earning a hi-profile degree like MBA, engineering etc. is considered necessary for getting a highly paid job.

Now matter how high scale of a job you have, but it would be a mere job. Whether you have a seat of executive or a clerk, you will be recruited under specific rules and regulations. Both of the executive and clerk get salary at the end of the month, and privileges along with it. Though, there is a hell of a difference between the level of a hi-class officer and a clerk, however, one thing is quite same: if you stop going office due to any reason, you won’t get salary any more.

Also, a fixed salary is enough only for meeting the monthly expenses, making savings like mutual funds, and/or purchasing stock market shares. This cash flow quadrant gives you security and a steady paycheck every month so you stay satisfied. But have you ever thought that this security is only a temporary thing? Money is coming only in case you keep on going office regularly. If you are fired, or retired, no more paychecks will be arriving. Also, you can’t continue working in old age. You must have to do something for retirement before it comes. Therefore, the job security is only for the time before retirement.

S Quadrant:

S stands for self-employed or small business. The people who work for themselves and own that work, come under this category. Like, you run a shop/store, or a website on a small level or single-handedly. This quadrant brings more satisfaction and freedom as you don’t have to work for someone else. You are your own boss. However, it is also like E quadrant. You or your staff has to work to keep the money coming. Therefore, people in this quadrant are also forced to work continually.

B Quadrant:

B stands for business. Medium or big sized business owners come in this category. Moving and staying in this quadrant needs a lot of effort, patience, time, expertise and experience, and above all, leadership qualities. If you want to move in to this quadrant, you need to possess all these qualities. Here, you are the boss and in driver’s seat. Your team and workers work for you, rather you go to work or attend the office daily. You just need to supervise the business operations and take decisions. If you are a great leader and action taker also, you can uplift your business and team to the highest level of success and achievement.

This quadrant gives you the freedom of time and money. The best advice for moving in this quadrant is that you should start with a small business and expand it gradually. You can keep on doing a job for earning a steady monthly income while give a few hours daily to your business also.

I Quadrant: The Superlative Cash Flow Quadrant

I for investor is the advanced level of owning and running a business. When you have plenty of money, you don’t need to do anything. Rather, money will do everything for you. This quadrant gives you the highest level of freedom – freedom of time and money.

After completing 10 to 12 fruitful years in business, you can become a successful investor. However, it needs great experience and knowledge of market ups and downs. Planning and joining successful business groups make moving into this quadrant easy for you.

E and S quadrants are called poor or mediocre person’s quadrants. These people can’t enjoy life as they are bound to work to earn money. These two are called active income quadrants. No work; no money, this is as simple.

Whereas in B and I quadrants, as long as you run the business and invest wisely, you don’t need to worry at all. This ‘passive income’ continues to come. If you want to be rich and to build wealth, you can do it in B and I quadrants only. But first, you will have to change your thinking patterns and have a mindset of business person and investor.

Gradually and constantly, you can move from the first and second quadrant to the third and even forth one. It is quite possible. So, don’t wait and start planning right now. When you decide to change your destiny, nothing can stop you from achieving your goal.

5 Reasons Why Finding the Right Tax Pro Can Save You Thousands

Winters are tough, and just when you emerge from your home on the first nice days of spring, you realize it’s tax season (rest assured, every tax pro is prepared). You grumble and throw a fit because your tax planning has been less than stellar. Now, even though tax season comes around the same time every, single year, we seem to find ourselves completely lost as to where to begin the process of reporting our taxes to Uncle Sam.

This season can be different, though, because you have begun considering hiring a tax planning professional to help get your financial station in life at least a bit more organized. The problem is you may have never worked with a tax planning pro, so where do you start? You’ve become so used to the idea that even though your tax work wasn’t perfect, it was at least free. Now, with an investment in a tax pro service, you’re wondering if it’s the right idea.

Here are five reasons finding the right tax professional is not only a smart decision but can save you a lot of money:

1. Provide Info on Your Income – You need to be able to provide detailed information about the income coming into your home. This includes you and your spouse. Keep in mind you also have to declare income from side jobs as well as investments. The great thing is your tax expert will shine some light on where you can actually add deductions to your taxes, which means more money in your pocket.

2. Account For Your Banking – A tax pro can take your bank account information, individual accounts or joint accounts, and let you know where they belong on your tax return. No more guessing games as inconsistencies can lead to audits down the road.

3. Make Note of Your Deductions – Deductions are categorized as either business (i.e., utility bills, mileage, office supplies). or non-business (i.e., property taxes, student loans, charitable donations), and your tax guru can help you see if there is money you’re missing out on.

4. Have Tax Documents Ready to Go – Sometimes you’ll be asked to provide pay stubs, previous tax returns, investment records, and pension information. This level of detail is key because the right tax professional will demand no less. It’s all about accountability on your part of the process.

5. Don’t Expect Immediate Answers & Numbers – Your tax professional needs to be able to assess your financial situation, and that takes time. They need to crunch the numbers to find out what type of money you may owe the IRS. Moreover, they may actually be able to look at your tax history and see if there is money that is owed to you.

Even if this is your first time working with a tax pro, always remember that it is a step that is never too late to make.

Time Is Non-Existent in Reality But Is Man’s Invention for Taxes and Slavery

The mind cannot perceive a world without time. Likewise, it cannot consider the concept of ‘always’. Something must have a starting point and ending for our convenience of reality. But our thinking is wrong and so too is the relationship we have with the Spirit of the Universe, the one and only God. This is the norm as shown to me by my reincarnation and journey from life to life.

My death was sudden and amazing. Nothing of it is recalled except when my ‘being’ floated above the body, that of a 45 years old man. Then in total darkness, completely black, and with the Spirit the feeling was absolute euphoria. There was nothing to see and no one to meet. There was no tunnel, music, light, or magic.

A vision was given of my next life ahead and that at 45 years (the age of my death) something extraordinary would happen to make sense of it. Floating then above my new parents as they were married (a date well recorded) my birth occurred a month later.

Only in man’s world of false reality is time important. Beyond death there is no time, no sense of haste or tardiness, and certainly no devils, angels, saints, or heavenly kingdom. This is completely opposite to the general consensus of opinion. So why is that so?

The things spoken of here are known by all members of humanity and yet they push it aside to adopt the awful brain-induced stories of false concepts and powerful leaders. Logic is destroyed so that regimental control over the masses is secured. It is, therefore, governed by the economic system, and politics.

The topic here, however, is about time and why it is non-existent in God’s reality? When one is divorced from the need to be governed by it then it almost ceases to exist. If one were to leave society and live off the land in a jungle somewhere there is no week, no morning or afternoon, and no sense of rising and sleeping to the tune of a clock.

The body enforces its needs through hunger and tiredness. So when and why did time take effect? It could only have been because of kings and regimentation of their subjects.

One of the great learning stories from white settlers in Australia is that the native people had no concept of time. In their world they had no counting system and seasons were something they knew only by when trees flowered and animals became more plentiful.

This points to another fact about why people in the Western nations were hooked onto it. Sedentary life, as in the so-called ‘civilised’ world, produced systems of exchange that took a turn from the norm. In the growing cities of the Near-East the people invented writing and records of goods were kept. Kings demanded portions of crops and so on for wealth.

With this new method of commerce money soon followed and then taxation and so on. Time became the most useful commodity when industry developed and people were employed rather than enslaved. They were now servants of time and gradually this has overtaken the world.

Called by the Spirit, at the age of 45 years, into a learning phase the things that have come to light are astounding. The deception by which the Establishment is run and the lies and deceit of its power have all but wiped out the need for a Divine influence. Religions and institutions are governed by the greed they deceitfully claim to oppose.

Time is their greatest weapon and working for their lives rather than being dependent on the Spirit is now the entrenched system universally. From the time of the Romans we have seen the world in a steady decline and now it is on the brink of destruction.

“And for this cause God shall send them strong delusion that they should believe a lie: That they all might be damned who believed not the truth, but had pleasure in unrighteousness.” II Thessalonians 2:11,12

The depth of the lie starts with time and institutions that created fake gods and who support the creation of wealth and power for their own preservation. Time is the product of that deception and in the reality of the Universal Spirit it is non-existent.

Make Your Business GST Compliant With ERP

GST is till date the biggest tax reform known that brought a uniform taxation system with many positive implications for the industries and trade. Ever since GST regulations came in the scene, many businesses, manufacturers, and traders are in confusion regarding the calculations of new taxes. They are facing several transitional issues in acknowledging such a modified and encompassing tax system even though it is far better than the earlier fragmented dicey tax system. However, ERP is providing them with the facility to comply with GST and embrace the changes wholeheartedly. ERP of renowned platforms like Oracle, SAP, Odoo is helping companies to administer and adopt GST system, including taxes computation, configuration, liability accounting, master data amendments, reporting, and so forth.

Read on below to know how ERP systems roll out a complete solution for businesses and services firms to comply with GST rules and undergo tax calculations.

Chart of Accounts

Businesses earlier used to have a separate accounting code for computing VAT (Value Added Taxes) and ST (Services tax) in all goods and services transactions respectively. But, now those codes get combined with GST in the ERP’s tax module. After the new regulations, the tax module of ERP carries forward the closing balance of the tax credit from the current to the new account codes.

Audit

ERP’s tax module will help firms to calculate their tax returns on the sales and purchases data. It then audits the amount before filing the GST returns. This saves up enormous time of the company’s accountants and helps them immensely when the daily transactions of goods or services are huge.

Error-free Tax Returns filing

Besides supporting all forms of GST transactions, ERP’s tax engine help in easy identification and correction of all errors for the painless filing of tax returns. Further, it assists companies in exporting of tax returns statement to MS Excel system to upload or later share with their Chartered Accountant, or tax practitioner.

Data Archiving & Protection

Businesses can save, archive and safekeep their tax data for a number of years at one place in an organised way. So, they can later access it any time if needed. Being able to access from a cloud source point, tax accountants can work real-time without needing any manual data.

GST billing

ERP is providing the facility to master all information about GST regulations in a separate GST module. It enables the businesses or taxpayers to comply with GST while issuing invoices for transactions. It configures the format for GST compliant invoices as per the business, auto-calculates the GST returns from every sale or purchase invoice and reconciles them.

All said and done, getting an ERP system GST ready is challenging job for the companies. Their existing system needs major revamping and they must know which of the modules will affect and which will correlate to new tax rules.

While smooth transitioning to a GST compliant ERP is still a costly affair, especially for SMEs, several ERP companies are launching reasonably priced GST-enabled ERP software to ease their process of GST return filing. With it, instead of filing all the returns manually, they need to just put in all sales and purchase invoices details and the GST returns gets computed automatically.

Tips to Boost Your Tax Refund in 2018

Now that tax season is over, did you have to pay taxes instead of getting a refund? You’re definitely not alone, and there will probably be a repeat performance next year.

There are several things you can do to increase your chance for a refund and you don’t have to be a tax accountant to take advantage of these deductions. The key is to start planning now, and not wait until the end of the year. Below is a list of what you should do.

Contribute to a 401K or IRA

Most people think the only reason to contribute to a retirement fund is to ensure financial independence as you age, but it can also have short-term tax benefits. Most of the time the money you put towards your 401K and IRA are tax-deductible and are not included in your taxable income.

Donate to a Charity

Charitable donations or expenses tied to volunteering can all be itemized and deducted from your income at tax time. Just remember to save all receipts and keep track of all the miles you travel on behalf of a charity or the organization you are volunteering for. These miles will be deductible at 14 cents per mile for 2018.

Buy a Primary Residence

There’s a clear tax benefit to owning a home. The interest you pay on your mortgage is all tax deductible. For the first several years, mortgage payments go towards interest, which will radically decrease your adjusted gross income at tax time. Think about paying January 2019’s mortgage payment in December to get the maximum tax benefit in April.

Invest in Solar Energy

If you’re making a list of home improvements, consider adding solar panels to that list. Solar will earn homeowners up to 30% of their installation costs in tax credits. I would hurry because those credits will decrease after 2019.

Claim Education Credits

Student loan interest and/or tuition can be used as a tax deduction. Current students can also access the American Opportunity Credit, which covers up to $2,500 annually for four years, and the Lifetime Learning Credit, which can cover up to $2,000 per tax return.

Start A Home Business

Starting and maintaining a business in your home will give you a new source of income, but more importantly, allow you to take deductions on all income that is generated from the business. These specific deductions may include business expenses, portions of your mortgage, utilities, repairs, and even the startup costs for the business.

Medical or Dental Expenses

Many of your medical and dental expenses are tax-deductible as is the transportation and parking costs.

Open a Flexible Spending Plan

Many employers offer flexible spending plans that will let their employees contribute towards their annual medical expenses. These medical contributions generally do not count towards taxable income.

Job Hunting

If you find yourself in the hunt for a new job this coming year, remember you can write off some of the expenses associated with finding new employment. These write-offs include clothing, travel, food, etc. And, these expenses are deductible even if employment is not found within the tax year.

Make Estimated Payments

As is often said, the best defense is a good offense. If you’re concerned that your deductions will not cover you appropriately for the tax year, it will be advantageous to make quarterly payments that you and your tax accountant think will cover your income that is not subject to withholding tax.

Start a Family

Child tax credits are still included in the new tax reform bill. In fact, they have been increased from $1,000 per child to $2,000.

Find Every Available Tax Credit

We’ve named many tax credits in this article, but there are many more that can be utilized. Some of these include childcare costs for low-income households and adoption. Keep in mind that tax credits are more valued than simple deductions because they can reduce your taxable income on a dollar-for-dollar basis.

The tax Cuts and Jobs Act of 2017 that was signed into law in December provided a major overhaul to the previous tax law. This law will affect your tax planning for 2018 so it will be important to have a pro do your taxes. No matter how much you think you know or how much research you do, a professional will be able to identify those tax deductions and tax credits that will be beneficial to you. A professional will also help you stay organized and minimize your tax obligation.

Remember, be a wise taxpayer and learn how to make money out of your tax return.

Earned Income Tax Credit (EITC)

Let’s start by answering the question “What is Earned Income Tax Credit?” also known as EITC we will use the abbreviation through out the rest of the article. The first word in EITC is earned which means you must have worked in the prior year for someone or had a business to receive the credit. The credit is for individuals with low income, the credit starts to phase out the more money you earn not the other way around.

Do You Qualify?
Because you worked does not mean you automatically qualify for these credits, there are guidelines we must follow. The largest shocker for this credit is the age range most people do not know you have to be between the ages of 25 and 65. You can receive this credit even if you do not have any children. You can not receive this credit for your parents. The following individuals will qualify you for this credit:

• Siblings – Sister, Brother, Stepbrother, Stepsister, Half Brother of Half Sister
• Children – Son, Daughter, Stepchild, Foster child, grand child
• Relatives – Niece, nephew

Your qualifying person must be 19 and younger. If they are going to school must be 24 and younger, and younger than you or totally disabled can be any age.

They must live with you for more than half the year and did not provide more than half of their own support. The qualifying person must not file a joint return or if they are filing a joint return it’s to receive the refund for income withheld or estimated tax payments.

Filing Status for EITC
The EITC filing status are: Married filing Jointly (MFJ), Single, Head of Household (HOH), or Widowed.

How Much Money Can You Receive
The most important part is how much is your refund. The EITC may help reduce the amount you owe for federal and State taxes. Yes, California has an earned income tax credit. If your filing status is Single, MFJ, HOH or Widowed your adjusted income must be less than $15,010 no qualifying children, one qualifying child adjusted income must be less than $39,617, two children income less than $45,007, three or more children income must be less than $48,350.

Married filing jointly adjusted income must be less than $20,600 no children, one child adjusted income must be less than $45,207, two children less than $50,597, three or more children adjusted income must be less than $53,950. Your investment income can not be more than $3,450.

The EITC maximum credit for no children is $510 some people might not think this is much money it helps reduce the amount of money you owe to the IRS. This is GREAT considering there was a time you couldn’t receive this credit without children. One child max credit is $3,400, two children $5,616, three children $6,318. The increase from one child to two children is $2,216 while going from two children to three is $702 as you can see the money decrease when you go from two to three children.

Add the credit to the money withheld from your check each year you can receive a hefty refund.

Take the documents below to file

If someone else is helping you with your return take the following documents to them.

• Social Security cards, a Social Security number verification letter, or other U.S. government document verification for all persons you may list on the return.
• Birth dates for all persons you may list on return.
• Copies of last year’s federal and state returns, if you have them.
• All income statements: Forms W-2 and 1099, Social Security, unemployment, and other statements, such as pensions, stocks, interest and any documents showing taxes withheld. If you own or run a business or farm, collect records of all your income.
• All records of expenses, such as tuition, mortgage interest, or real estate taxes. If you own or run a business or farm, collect records of all your expenses.
• All information reporting forms such as the 1095-A, 1095-B or 1095-C.
• Bank routing numbers and account numbers to direct deposit any refund.
• Dependent child care information: name and address of paid caretakers and either their Social Security number or other tax identification number.

Thank you for taking the time to read the EITC information.

Earned Income Tax Credit is a GREAT Way to add more money in your pocket during tax season. Tax Season starts January 29th.

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