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.
» » Baru Ubah Gaya Sikit, Sufian Suhaimi Dah Dapat Pelbagai Gelaran

Baru Ubah Gaya Sikit, Sufian Suhaimi Dah Dapat Pelbagai Gelaran







How to Multiply Your Company Finances A successful business strategy should be easy to understand and apply in essence. Assuming you are in business, own a business and enjoy what it is you are doing these three stages discussed below if put into practice will change the way you think about your work and future. First of a few questions What is your line of work? Do you sell a product or a service? Do you have a business & marketing plan? If No why not? If Yes look at it now, when was the last time you updated it? The way to make money is to have a product that is of value and meets the need of your preferred market. Does this describe your product? Assuming you passed the first test, you need to make enough people aware of your product in the most cost effective way possible. Some knowledge of marketing and advertising trends/medias are also required and or the hiring of a recommended expert. Get these two right and you are on the way to making a comfortable living, But if you want financial abundance and security there are other steps to take, some people stop at this stage and think they have made it, and that's only the ones who get to that point. Each year thousands of new businesses go bust, not normally due to lack of effort or desire but a lack of knowledge about what is required for their particular situation. I will rephrase the saying "Knowledge is power" to "The right knowledge applied is power". We all have knowledge up to a certain point. The key is finding the right information and then applying it to your particular situation, the saying "horses for courses comes to mind" aim to be a horses for courses person not a blind leading the blind person. The 3 stages for multiple growth are these, with a proviso have a plan (which is flexible) to; 1) Work in your business - Short term plan 2) Work on your business - Medium term plan 3)Work outside your business - Long term plan "Failure to plan is planning to fail" Benjamin Franklin If you cant see or plan for yourself in these phases it will limit how much your company can grow which will affect your growth also. Determine the minimum and maximum time frame these phases should be, generally speaking a short term plan is 0 to 2yrs, medium term is 2 to 5yrs and long term is 5yrs plus. Stage1 - Working in your business The start up phase, when you have been trying to get established and make a living in your business. You have more time than money and clients so you are able to perform many tasks within the company. You don't want to stay in here to long mind you. However it is good experience to be involved in the many aspects, from working in them you will be in a better position to refine, tweak or remove your processes and systems for when you have someone else to do it. The quicker you learn your lessons the quicker you will move on. In this stage your business cannot function without you. Stage2 - Working on your business The mid phase you are still doing many of your day today activities and your business is breaking even and better, you are more interested in how to promote and market your product better as you realize the potential gains in this investment. You realize your true value has increased (would the director of Sainsbury's stack his own shelves or pay someone else to do it?) You realize the advantages of delegation to that end you plan towards it. You are beginning to align your thinking to your new worth, to that end you are think inside and outside of the box and are being proactive not reactive. You have a plan which is exciting and achievable and stretching. You welcome competition as it shows your potential clients just how good you are Your business can function without you but only you are able to make major decisions or agree certain types of work, so you diminish your earning potential. Stage3- Work outside your business Your business is flourishing Your stock has again increased, You have people on hand to do the work you use to do You are planning for the future ahead of the game, You plan to expand and branch of into other areas. You provide value and service You understand marketing and people or have someone in your organization who does You welcome competition as it shows your potential clients just how good you are You are able to dip in and out of your company at ease and as hands on or hands of as you wish without loss of earnings. Can the company work and generate finance without you? That is the true test of this stage. If not there are still some changes you can make if you so wish. "If you realize the value of time and your expertise you will do the things that few can do and find someone to do the things that many can do" Roger Millar On the articles section of my website I have a link to an extract from a book called "The hands of Manager" written by Steve Chandler for those who are struggling with the concept and benefits of delegating or outsourcing work, this may be helpful to you. http://www.7ask7.co.uk/e-books/Business_Coaching_Sample.pdf Finally your business success or not is down to you at the end of the day, assuming you get the right advice and information, you need to apply and process it effectively, We all have characteristics that hold us back and slow us down in some way, finding the right coach/ consultant for you will help deal with your personal issues as well as your business ones, a complete solution in one of the most efficient ways I know. Think about all the advice you have received in your life from, Parents being a child at home Teachers at school Lecturers at courses & classes Speakers at seminars Authors of books read An expert in a field you knew little about Writers of newspapers and magazines Friends and family, The list is endless imagine where you would be and what you would be doing today if you decided not to take the majority of the advice and instruction given to you and apply it to your own situation, the world is full of people who did not listen, listen enough, understand or have someone there to give them some knowledge, wisdom and guidance when they needed it most. Ask yourself am I still learning? Or do I know it all? Is there something I can learn from someone else? Is the payoff worth the risk? i.e. your time and money against the potential return of personal and business growth. If you are not sure is it worth a try? Everything of value costs something to someone otherwise it would not be of value. Can you afford not to invest in something or someone? Sometimes the thing that separates those who make it and those who don't is the decision to invest in someone's expertise for a greater reward. If this article strikes a chord with you, then look for someone who can help you get to the next level, find out what they can do for your specific situation. This article is generic, but when I work with businesses it will be specific that is the x-factor of working alongside someone, the solution is tailor made for your business and hence more effective. Look out for future articles on how to give achieve a 200% financial growth.  To find out more about the Coaching service I offer, and an informal chat with no obligations, contact me using any of the details below. FREE 15min taster sessions are also available Roger Millar - Life, Success, Spiritual Coaching Tel no. 020 8357 9294




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