Your Financing Strategy Ask questions from your bankers which of one these will benefits you most and which one could be costly to you. You can also get free checks when you open your account, you do not need to pay for checks. All checks are processed the same way that is up to you and how you manage your money. -Savings Accounts: Custom Savings, Money Market Account Checking Accounts: Economy Checking, Express Checking, -Regular Checking, Senior Checking, Student checking -Your Debit/Visa Card to use for shopping could be free when you open your account, make sure you ask for it, at times they will ask you if you want one or not. Where you use your Debit/Visa Card to withdraw money matters to your bank, it could cost you for using it at the wrong places, ask your banker for information where you could use your card without paying extra charges... Some banks charges between $1.00 up to $3.00 if you use their card to withdraw money from another bank that they do not do business with. It is your money... Each one of the above has advantages and dis-advantages, be careful when you are opening your accounts; you could loose money to the bank right away. You also need to know if your monthly statements are going to be free or not, when you make inquiries, the bank could be charging you for too many inquiries. Some things are free from the big banks and something's are cheaper from the community banks. Basic Requirements for lending you money: · Savings and Checking Account · (2) Good Credit or No Credit it depends where you are getting the money. · (3) Collateral such as your House, Car, Boat, Gold/diamond or any valuable assets they can hold on · Driver's License, · Social Security numbers · Good Employment, at least for six months. Lenders Information: Big Bank requirements- Can be very tough to meet because they have to abide by the 'Federal Reserve Bank or Federal Deposit Insurance Corporation (FDIC)' regulations. They got their money from the Federal Reserve Bank at a lower rate, however, they could turn around and loan it to the smaller banks at a higher rate, and the smaller banks loan it at higher quote rate to the public. Community Bank requirements/Credit Union: Well, the community bank is no different either, they turn to the big banks to borrow money at a lower rate so that they can loan it to their customers/clients at a higher rate to make some profit to stay in business. Private Capital market requirement: This is where the business gets tougher. The Capital Market enterprise is a big boy on the Wall Street, where they can finance just about anything they like, because they are not being regulated by the government, it is an individual rich businessmen that have money to loan out at a higher rate. They are not required to follow financing rule rigidly as the bank does, but they still have follow the consumer law that protect all of us from being taken advantage of. Family friends requirement: This one is your best source of financing, if you could find a rich friend or family friends that can loan you money without any attachment or collateral. They may ask you to pay them some small interest, or none it all depends what you are using the money for, at they would like to get a piece of the apple when they know you are going to make a lot profit. Collateralization: There some companies out there that would loan you money to meet your emergency needs, but becareful, they may ask you to give them your house, car, motor cycle or any of your valuables for collateral just in case you were unable to pay them back, but, they are very quick to take your valuables and you may not have any re-course to take them to court for doing so. I would stay away from such financing unless you have to... There is going to be a time when we are going to need finance or re-finance our mortgages, car, motorcycle, big boat, air-planes etc., that we cannot come up with up-front lump sum money to pay for it This force us to turn to our bank, family friends, private capital market, small loan companies to loan us that money. This is where we are being taken advantage of by offering us some sort of un-affordable rates. At first you would think this a great opportunity that it will not be problem, you could afford that payment being offered to you by your lender, you better think again before you sign that dotted line. They could be collecting interest from you money for long time without any of it going to your principle. Pay attention to dotted Line and Small print in the loan documents: The loan documents can be very tricky to read when you are not an attorney, the small fine prints areas are very important areas to pay attention to, because this is where they hid rates, timeline, and warrante, but if you don't pay attention to the rates they quote or offer to you in the loan document that you are going to sign you could be losing a lot of money. You probably better off to take to your attorney before you sign the dotted line. In the fine print of the loan documents is where they hid most important information that your lender did not want you to know about, especially mortgage and credit card documents. It sounds strange, but it is true, If you don't believe what I said here in this document, go to your loan documents and read the small prints in there you may find out something that you would not like to see or hear about, or if don't believe what I said here, ask yourself a question of why didn't they just print the whole loan documents in a readable format with nice fonts that an average third grader can read and understand it without having to scratch their head or look up words in the webster dictionary for interpretation of words, after all you are the consumer paying them for this services and they will be collecting interest from your financing for such a long time. 95% of mortgage homeowner never gets to the point of paying principle or their mortgage finance off before being taken away from them, but the bank or private investor already started to benefit. Yes, I understand they took the risk to finance us. I think what is fair is fair, they should make the loan documents more readable for us, and there should be no small prints that is had to read on any loan documents. They should be in a readable format that average Joe can understand; my question all the years was why are they making it so complicated to read if they do not have anything to hide? I also think the loan documents should not have so many pages when we are talking about saving the threes... Not too many consumers read all these pages, it has no value to have so many pages when no one really reads it, of course the attorney will not be making money if they these document could be reduced to minimum. My solution to this big fat loan documents should be to reduce them to minimum, all it should it be contain is, who own the house, the rate, how long is going to be paid, warranty, borrower's and co-borrower, and all other very valuable information it should not be more than 10 pages long.
» » Netizen Persoalkan Fatiya Latiff Sholat Dalam Kereta Yang Sedang Bergerak

Netizen Persoalkan Fatiya Latiff Sholat Dalam Kereta Yang Sedang Bergerak




Experiences from 'The Flow' (7) - Living Well? Farangs and Finance - The Myth "To us Farangs (Thai: foreigners), living in Thailand can be financially challenging. But according to most of the locals, ALL FARANGS MUST BE RICH!" "Prosperity: The eternal flow of all that's good in life..." *Below is the seventh episode in a series of real life events experienced by the author. The only deviations from the truth may be the names of people and places. - The Myth of Farang Finances - There is an unwritten rule about the cost of anything in Thailand: There is a Thai price and a Farang price. Since Thai people believe that "all Farangs are rich," the Farang price of everything is much higher (sometimes triple!). Of course, this is a myth. But why do Thai people believe all Farangs are rich (including the "poor" Farang English teachers)? Many reasons. But all of them can be placed into three broad areas: Tourism, Currency, and Standard of Living. - The Tourist Syndrome - Like most of Asia, Thailand attracts tourists from around the world. Prospective vacationers plan and save all year for their holidays in the tropics. The warm, sunny weather; lush, green landscapes; exotic cultures, and beautiful, friendly people are but a few of the many reasons why millions of tourists flock to Thailand. While on vacation, most of the tourists, out of ignorance OR intention, willingly spend what the local Thai people consider "small fortunes." Wallets and pocketbooks are opened more freely when on holiday. Consequently, especially in the big, major cities and tourist hotspots of Thailand, most Thai people believe that Farangs are rich because all they see are free-spending tourists. What the Thai people don't realize is that the majority of the "rich" Farangs work like dogs all year 'round in order to spend a lot of money during their short visits in their country; having a great time playing out their individual, celebrity fantasies. - "A Farang in Thai's Clothing" (The Double-Edged Sword) - Tourists and ex-pats alike enjoy the overshadowing strength of their home currency against the Thai baht. For example, one USD = 33-35 Thai Baht. This situation makes things seem ridiculously cheap. Food, accommodations, and all vices known to man are easily obtained for obscenely low prices. And, of course, the longer a Farang stays in Thailand, the more he/she learns how to buy things that are closer to the local Thai price. Case in point: I've been in Thailand for about two years now. I take advantage of my Asian appearance as much as possible by keeping my mouth shut and letting my Thai friends do all the haggling. All vendors assume that I am a local Thai (until I begin speaking). I don't say a word until the transactions are complete. This "mum's the word," habit of silence normally saves me between 30-50% at all the local markets, restaurants, pubs, hotels, tourists attractions etc. It's frustrating to my non-Asian, Farang friends (especially the ones who have been in Thailand longer than me AND speak fluent Thai) whenever we're out together. Everyone, from the hotel receptionist to the taxi driver, speaks to me in Thai and assumes that I will translate what they say for them. And of course, prices for me are automatically lower. When we're out bar hopping or singing karaoke, the women we meet see me as a rare catch, indeed; a "double bonus" - not only am I a "rich" Farang, my Thai appearance is easily presentable to friends and family; something supremely important in Thailand. Don't get me wrong. Yes, there are many advantages to being a Farang AND looking Thai; but there are disadvantages too. It's a double-edged sword cutting both ways. For example, I'm an English teacher. English teachers in Thailand are supposed to look like Farangs (i.e., white skin, tall, brown or blond hair, light colored eyes, etc.). Many times during my stay in Thailand I've been turned down for a job because I "look too Thai." Once I applied for a teaching position at an International School where a lot of my Farang friends worked. They had bachelor degrees. I have a master's degree and was enthusiastically welcomed by the Hiring Director. But then a co-owner of the school saw me and instantly told the Hiring Director to offer me a position WITH HALF THE NORMAL FARANG SALARY! In other words, even though I had more education, qualifications, and experience than my co-Farang friends, the co-owner thought I "looked too Thai" to garner the normal Farang pay. I don't blame the co-owner. You see, the parents of English students pay a premium for English classes and want "Real Farangs" teaching the class! If the parents don't like any teacher, only one of two things can happen: 1) The teacher is excused (which is the norm) or 2) The parent takes the student elsewhere for English classes taught by "Real Farang" teachers (which doesn't happen often). - Culture Shock and Living Comfortably: Farang Style - Let's face it, visiting a place for a vacation versus living in that place are two very different things. In spite of having an Asian heritage and passing for a local in any Asian country, I (like all ex-pats) still suffered a severe culture shock when I decided to live in Asia. Anyone who has ever lived in Asia can empathize. Things are rarely on time. Asians, with a seemingly perverse delight, are notorious for keeping Farangs waiting; or worse, not showing up at all. No advance notice of cancellation. No remorse if you should happen to bump into them afterwards. There is a saying amongst us Farangs in Thailand, "If you and an Asian agree in the morning to meet at 4:00 PM, the next question should be: What week?" And what Westerners consider as "basic and normal" is considered "luxurious" by most Asians. Clean, continuous water is not a guarantee. I've lived in many places in Asia where the water spouts go dry for hours everyday. The smart thing to do is to keep a large trash bin full of water at all times in the bathroom. That way, even if the running water runs out, one can flush the toilet (a Western, seated-style toilet or an Asian, squatting style porcelain "foot bowl") and at least take a bath. Uninterrupted, non-spiking electricity is rare. "Brown Outs" happen frequently. Every household is equipped with candles and flashlights for such occasions. The locals just take it in stride and entertain themselves with the old art of conversation; or, if one is lucky, the even older (and more fun) art of sex. But most Farangs are "forced" to "relax" and go with the flow - even if hours of computer work have just vaporized into ether! When brownouts occur, people scramble to turn all appliances off (in preparation for the power surges that occur when the power is finally restored). Televisions, computers, and stereos routinely become irreparably damaged from such surges. These "little annoyances" tend to accumulate. Finding real napkins vice toilet paper at restaurants becomes a treat. Some semblance of sanitary conditions in restaurants and other public places (meaning: food minus the flies or the smell of sewage - "Ahhh...the mist of piss and the aroma of dog excrement") makes one feel like a VIP! Good roads, roads that don't threaten to fling you off your motorcycle with every pothole, makes the "driving war" a little more tolerable. Honest (or at least semi-honest) businessmen and policemen would also be nice now and then - and the list goes on and on... All the above reasons steer most Farangs towards obtaining a standard of living they consider "normal" by Western standards; but is nonetheless, a standard that appears quite lavish to the local Thai people. Naturally gravitating to living areas that more closely match their usual standard of living; Farangs look for cleanliness, convenience, and comfort. This translates into apartments, condominiums, and townhouses that can cost triple the normal Thai person's monthly salary. Luckily, since qualified Farangs are in short supply, Farang salaries in Thailand tend to be just enough to support a somewhat "tolerable" standard of living for a Farang; a living standard that seems totally extravagant by Thai standards. Not accustomed to (or unwilling to acclimate to) the heat, Farangs seek out places that have air-conditioning. Most locals cannot (or will not) "waste" their money on expensive aircon units and their accompanying high electricity bills; perfectly satisfied with one or two electric fans. Farangs routinely enjoy eating at restaurants, especially restaurants that are clean and offer a variety of Thai and foreign cuisines. Local Thai's either cook at home or eat at one of the many street food stands; thinking that eating at a restaurant is another extravagance reserved only for special occasions. As soon as a Farang can afford it, he/she buys a car (or at least a motorcycle); whereas the bulk of Thai people use cheap, public transportation (bus, train, subway, or motorbike taxis). Traveling by taxi is considered expensive and used mostly by Farangs and richer Thai's. All of this (free-spending tourists, currency power, and luxurious living) reinforces the Thai myth that ALL FARANGS MUST BE RICH! ...Continued in "Experiences from 'The Flow' (8) - Living Well? Farangs and Finance: The Reality, Stupidity, and Hard Knocks." "Until next time, find 'The Flow' and jump in!" Your Friend in this Intrepid Journey called Life, Carl "J.C." Pantejo Note: If you want to read more about overcoming heartbreak, unconditional love, exorcising past personal demons, and the Illusive Secret of Happiness, please read the following articles: "Experiences from 'The Flow': From Heartbreak to Happiness" "Experiences from 'The Flow' (2): Coincidence or Synchronicity: FROM RELAPSE TO MIRACLES..." "Experiences from 'The Flow' (3): LOST AND FOUND - Kindred Spirits and Mistakes made in Haste." "Experiences from 'The Flow' (4): LOST AND FOUND - Meant to Be?"  "Experiences from 'The Flow' (5): "The Stray" "Experiences from 'The Flow' (6): "New Beginnings, Old Endings" "How Dare She! Out of Desperation I Learned How to Forgive" "Remember Who You Are!" "Need to Heal Your Broken Heart? Read on. Overcome Heartbreak and Learn the Illusive Secret of Happiness." By Carl "J.C." Pantejo, Copyright January 2008 He is a retired U.S. Military veteran. Believing that school was too boring, he dropped out of High School early; only to earn an A.A., B.S., and MBA in less than 4 years much later in life - while working full-time as a Navy/Marine Corps Medic. In spite of a fear of heights and deep water, he free-fall parachuted out of airplanes and performed diving ops in very deep, open ocean water. He went to Thailand 2 years ago for a week's vacation, fell into a teaching job, and has never left!




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