There is always someone or something that is that sums up greed, corruption and plain human stupidity of an age. Jewish born Bernard L Madoff, ex Wall Street chairman and founder, is one of those stories, which symbolized the age of easy credit. A time that brought all nations around the globe to their knees, in the worst recession to hit, since the Great Depression of the 1930's.Seventy year-old Madoff was the brains behind the largest ponzi...more
We have read motivational books which inspire you on how much wealth you are capable of in a lifetime and inspirational articles which tells you that you could unleash so much hidden potential within yourself. We have also attended talks and courses which encourage you to fulfill your dreams, to pick up confidence and courage to attempt whatever you have always wanted to do in your career.All these give us a rush of adrenaline and fill us with a...more
There are experts in every field willing to sell their skills to anyone who could benefit from them, and the payments industry is no exception. As public exposure surrounding the bankcard industry expands, merchant account consultants are popping up online and perhaps even at your local networking events. The question is whether this new flood of payment consultants are simply salespeople giving themselves a new title, or if they're legitimate professionals that will help to combat the abuses toward merchants born out of the lack of unbiased information and support.The problems that plague the bankcard industry can be summarized very simply as too much money, not enough information and little oversight. There's a lot of money to be made selling merchant accounts, especially when merchants know little and have nowhere to turn for unbiased counsel. This is hardly a new problem, but it's one that's received a lot of attention in recent years. Most recently, the media coverage surrounding the Card Holders' Bill of Rights and the Consumer Discount and Fee Transparency amendment has heightened public scrutiny even more. But all of the apparently beneficial attention may have an ironic...more
On a recent visit to London from New Zealand, one of my objectives was to get up to date with the UK sharemarket by getting the latest view on markets from a range of analysts, economists, fund managers and, of course, taxi drivers. Most New Zealand investors, like those anywhere, have what we call a 'home bias' in their share portfolios, meaning...more
New Yorkers I talk to are pleased to see the sharemarket up 30% from its lows, but are cynical as to the rally's resilience and are using the bounce to raise cash. As I found in London, 'the bounce' is the number one topic of discussion across fund managers and analysts. Most are shaking their heads at the speed and steepness of the rally. Some...more
During a real estate downturn its easy for someone to overlook the big picture and question why they should be interested in investing in the residential real estate market. It can be difficult not to listen to media reports and members of Congress talking about how hard it is to be alive. Dont forget that before this real estate downturn, real estate was the hottest investment you could find. While its true that what goes up must come down, its also true that everything that falls eventually reaches the bottom, and bounces back up. Here are six reasons to invest now and be ready for the big bounce when it does come. Passive Monthly Income By investing now and using your head by performing some simple calculations, you can ensure that you have more money left over at the end of the month than you need. This positive cash flow is like a gift that keeps on giving because it will show up in your mailbox every month whether you're there to meet it or not. $200-$300 per month may not seem like a lot of money, but when you have 5, 10, or even 20 checks like that coming in that you don't have to earn doing some repetitive or backbreaking job, a seemingly inconsequential...more
Seller Financing to the Real Estate RescueBanks arent lending, sellers cant sell and buyers cant buy. Seller financing opens up huge pools of potential buyers who are willing to pay fair market value and above average interest rates to the...more
With Australians right around the country frugally looking for ways to tighten the purse strings during this economic downturn, it makes sense to look at every dollar thats leaving your account and work out where the moneys going.There are...more
Contrary to the TV footage of the January sales, Australians have become a nation of savers.Not only have we been saving, we have also been paying down credit card debt and maintaining our mortgage repayments despite falling interest rates. In fact,...more
But bear with me for just a moment while you imagine this scenario: its the first week in December, youre about to start on the three week spending binge of gifts, food, decorations, booze and holiday accommodation, and you realise you havent...more
MortgageA mortgage is a type of loan, primarily used to purchase property, in which a lender or mortgagee provides credit facilities or finance to a borrower or the mortgagor, after obtaining a legal protection in the form of an official commitment,...more
The most vital part of your financial well-being is your credit score, commonly called your FICO score because most scores are determined on the Fair Isaacs Corporation Credit scale. When we typically think of the importance of our credit scores, we...more