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...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 that they have a high proportion of their share portfolios invested in their local markets. When it...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 recovery off lows was justified as news has certainly being "less bad" over recent weeks, but most struggle to see how a 30% bounce can be justified.Many I talk to are sticking with their equities, but have used the bounce to raise some more cash by trimming some of their positions.If the stories in The Wall Street Journal are anything to go by, we're not out of the woods yet.A front page article carried a photo of a bulldozer demolishing a row of half finished houses in California.A bank had ordered their destruction after the owners went into foreclosure and it took ownership. Given the huge decline in house prices, it was cheaper to demolish the houses than complete and on-sell them.Another article recounted a survey that has found that 30% of homeowners in the United States have negative equity (they owe more than their houses are...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...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 seller who is willing to take payments instead of all cash at once.Fifty percent of potential buyers...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 obvious ways you can reduce spending like cutting back on take away and your morning coffee, but to be honest Id rather not.So what would you say if I told you that you could save money every month without having to forego any of the little pleasures we enjoy on a daily basis?Its true. What Im talking about is fees.Think about it. You pay $2 here for using another banks ATM, $5 there for not returning the DVD on time and by the end of the month you seem to have racked up $20 or so.ATM fees in particular have been in the media lately because of the introduction of the new ATM Direct Charging reforms. Under the reforms, youre now charged directly by the ATM owner when you use an ATM not belonging to your bank.However, given most banks now offer customers at least one account with unlimited ATM transactions, as long as you use your own banks ATMs, you really can avoid getting charged what are known as foreign ATM fees.Here are a...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
As the UKs recession develops, debt advisers are being swamped by people desperately struggling to manage their mortgage repayments, credit cards and loan repayments. There has been a 40 per cent increase in people with arrears on mortgages and...more
Private student loan consolidation cannot be generally mixed with federal student loans due to the low interest rate on the latter. However, there are several options open to refinance the private student loans by replacing them with another.The main...more