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...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 comes to New Zealand, the justification for having more invested overseas is strong. We have a small, fragile economy, which is dependent on agricultural exports. An outbreak of foot and mouth would have a disastrous impact on the New Zealand economy. So would a large earthquake.As well, we need to acknowledge that our days of being the 'Switzerland of the Pacific' ended in 1970. Our currency today buys a lot less in London than it did in those golden times. We have got poorer relative to the rest of the world.The easiest way to protect your savings from a continuation in this long-term decline in spending power is to invest some money in overseas currencies and assets. This is the rationalization for global diversification.There is a...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...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 today no longer qualify for conventional loans due to stricter lending guidelines being put into place as a result of the current mortgage meltdown and new government regulations. Many banks are still holding bad assets, which forces them to loan what little funds they do have to only their very best credit worthy buyers.Owner financing has traditionally been used to purchase real estate that conventional lenders regard as non-conforming or difficult to liquidate in the case of foreclosure for a borrowers failure to pay the note when due. Owners have often carried back financing on: Unimproved land Recreational land Mobile homes w/land Farmland Rehabbed houses Property that didnt conform to standard lending guidelines In todays tight credit markets, nice middle class homes, luxury homes, condos and commercial...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
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