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Borrow Money Against A Shared Inheritance

An heir may have to wait months and even years in order to get their inheritance distributions. This is because of the length of the legal process involved. So, an heir is allowed, by means of cash advances or loans, to receive funds in a matter of days. It has no effect on the other heirs of the estate. A portion of the estate is assigned by the cash advance company, in exchange for the loan. Here is how you can get an advance on your inheritance.

• You need to first determine whether you have the eligibility for an inheritance cash advance or not. Advances are only typically received by the heirs from probate assets. Probate assets are bank accounts, insurance policies, real estate, company interests and other assets that were only owned by the decedent. Non-probate assets include trust, retirement accounts or any accounts that are jointly held with another person.

• You need to first determine what amount of money you want to lend from your shared inheritance. The usual range of inheritance loans and advances are from $5000 to $250000. Select an amount of loan that is less than the inheritance you expect. The amount of the loan is capped by some lenders at a certain percentage of your total expected inheritance.

• Contact a company that has a specialization in inheritance advances. Money can only be borrowed by the inheritors from their inheritance after the beginning of the probate process by the inheritors. Do not forget to ask the inheritance company that for an inheritance advances what fees will they charge. The fees vary depending on companies. Fees usually depend on the amount of the advance, the complexity of the estate and the amount of time until the estate closes.

• A cash advance has to be arranged by you from the lender. Funds can generally be distributed by the companies from advances and loans within a few days of business of the transaction. If sufficient funds are not present to pay the loan, ask the company about its consequences. The heir usually does not have personal liability for insufficient estate funds because the heir is assigned an interest to the company.

• Return the money back to the inheritance cash advance company as early as possible. When the estate closes, executor automatically pays the money to the inheritance cash advance companies as part of the transaction. However, discounts and rebates are offered by some companies for heirs that pay back the loan early.

Turn Your Negative Cash Statement Into A Positive Cash Statement

Look into your monthly budget – To get started, it is a wise decision to have a look into all possible monthly expenses before you sort out your list. Focus on your top ten options from the list and narrow down as it is certain that one or two from the list may not be important expenses. This is one effective way that can help you save some amount of money by the end of the month.

Cutting down unwanted expenses also means that you have to ditch some of your leisure habits. Some of these habits can force you to spend unnecessary money every day.

Working on your budget also means that you have to try and follow it strictly. One of the main benefits of planning your budget is that it helps you get familiar with your total income and expenditures. Your budget should only include expenses that are very much important and cannot be avoided. It’s all about your needs verses all your wants and desires. Before you spend any money you need to keep in mind that unnecessary expenses will leave you broke by the end of each month.

Automobiles are one the luxury gadgets that can force you to invest a big amount of money every day. If possible it is always advisable to try and make less use of your private vehicle. Apart from this, it is also wise to try and invest some amount of your income on insurance policies.

Investment plans that do not require much investment can also be one of the best ways to help you save some money every month. An unused room in your house certainly is a good investment if you can try and rent it out to someone. A vacant room can certainly be considered as one of the best sources of income that can help you save money every month to pay your electricity and maintenance bills.

Apart from your unused room, you can also try and rent out your automobile for few days in the month. This will help you collect money for fuelling your vehicle for your use. Although this is a good factor but it may also mean that you need to regularly invest some money in its maintenance. If you are used to going to your office in your car then you can try and rent out a seat to someone in exchange for some money.

Many people also try and generate additional income by renting out their homes for other service providers in your locality. Always keep in mind that if you are looking around for generating a positive cash statement, you always have unlimited opportunities that does not require you to invest big money.

Pay Off Your Home Loan Sooner

Are you looking for ways to save on your home loan? Following these simple tips will put you on the path to paying off your loan sooner or if your goal is to purchase an investment property, creating equity from which you can draw on.

Increase your repayment amounts
The simplest way to pay off your home loan sooner is to increase the amount you repay. By repaying more than the minimum you can cut the overall term of the loan and save thousands of dollars in interest. The more you pay off earlier on in your mortgage, the more you’ll save over time. Some products may charge you an early payment fee for paying your loan in advance. These costs can be large, so it’s best to always check beforehand.

Consider how mortgage features can help
Think about how using an offset account or a credit card linked to your home loan might help you keep your loan balance low. If you’re looking for ways to keep your interest down, it’s worth investigating what other features your mortgage comes with.

Take advantage if there are variable rate cuts
A lower interest rate will reduce your repayments, but if your lender reduces the interest rate, consider repaying more than the minimum loan repayment amount. This can help you save on future interest payments. Don’t pay the interest-only An interest-only loan might mean you’re able to make lower repayments for the first few years, but this means your repayments will be larger when it comes time to pay off the principal.

Consider re-financing
If you’ve had your mortgage for 12 months or more, re-financing might be able to get you a better deal on your home loan. There may be costs associated with re-financing and it’s important to take this into account.

Consider a split home loan
A split loan allows borrowers to divide their mortgage into both variable and fixed components. You can lock in a low fixed rate on part of your loan, if you only want to limit exposure to the variable rate.

Explore your options
Before you sign on the dotted line, make sure you’ve explored all of your options. It’s worth looking into whether you can get a discounted loan rate with a financial package that includes special rates on other products and services. With just a few easy steps, borrowers can significantly reduce the length of their loan and save thousands of dollars in the process.

Protect Your Retirement Accounts

President Donald Trump which delays and reconsiders the Department of Labor’s fiduciary rule, scheduled to go into effect in April, may mean higher costs for individual investors and retirement plans, especially 401(k)s offered by small businesses.

Fortunately, the threat of the regulation had already started to change the way financial institutions do business. Some firms have moved away from their higher-cost products and toward making their fees easier to explain to clients.

Investors should always keep a close eye on how much they’re paying, since a fee of 1 or 2 percent can have a surprisingly large cumulative impact on their financial future if it’s charged yearly.

For example, did you know that mutual fund returns in 401(k) plans are normally reported as net returns, meaning that fees for managing your investments are subtracted from your gains or added to your losses before calculating the annual return. Other costs, such as administrative and record-keeping fees, are often divided among plan participants but are not explicitly listed on individual investment statements. This lack of transparency is frustrating for investors.

Investors should also ask detailed questions about how their advisers are being paid. What incentives do they have to steer you into products they recommend? An adviser may operate differently if they’re paid by the hour or by a percentage of the assets they manage, versus if they’re paid extra commissions for certain in-house products. Even if the rule passes, I just can’t believe that institutions are going to stop pushing products down your throat.

People who don’t know the first thing about annuity expenses, load fees, or the importance of a mutual fund’s expense ratio have been held hostage by unscrupulous salesmen.

The truth is that the financial services industry has many caring people of the highest integrity who truly want to do what’s in the best interest of their clients. Unfortunately, many are operating in a “closed circuit” environment in which the tools at their disposal are “pre-engineered” to be in the best interests of the “house.” The system is design to reward them for selling, not providing “conflict-free” advice. And the product or fund they sell you doesn’t necessarily have to be the best available, or even in your best interest.

To receive “conflict-free” advice, we must align ourselves with a fiduciary. These professionals get paid for financial advice and, by law, must remove any potential conflicts of interest (or at a minimum disclose them) and put the client needs above their own.

Do not afraid to ask questions and protect yourself by holding your advisors to a high standard of care.

 

Manage Personal Finances

There are some very simple ways one can implement in order to be able to manage their personal finances.

Planning Goals- To be successful with almost every sphere of life, knowing what you want (Goal) and how you will achieve it (Plan). Make a list of your short-term, medium and long-term goals. After you come out with a list, figure out the time, expense of each of your goals and then plan what you need to be saving on weekly, monthly and on yearly basis to reach your goals. Goals may include making plans for things such as retirement, housing, child welfare and others.

Budget- For everything that you decide to spend money on or you are planning to go doing shopping make sure you have a budget and follow it religiously. This will go a long way in keeping you from doing unnecessary impulse buying.

Do not spend more than you make- Make sure you check your cash flow properly, will obviously show you areas where your money is leaking and make sure to reduce your expenses.

Prefer using a debit card- When using a debit card, one is only allowed to spend to a certain level and this helps in taming the urge to spend more thus keeping you on track of your set goals.

Create an emergency account- Creating an emergency account doesn’t mean that you precedent bad things will happen, but this is planning ahead so that when an emergency occurs you will not have to stop other important projects in order to settle the emergency but you will be well prepared, ready and able to settle it.

Develop a way of tracking every coin coming in and going out- This can simply be done by just looking at the receipts without necessary going out to the bank for bank statements. After looking at the receipts, identify what is wrong and rectify it and put more effort on what you are doing right to help you reach your goals. note that you should also go for the cheapest credit card companies.

Shop prudently- Don’t go shopping in those high-end shopping malls while there’s a lot of many other places stocked with quality products but at even much cheaper prices. this way you will end up saving a lot of money.

When personal finances are well managed can go a long way in giving one the financial freedom they want. Just put into action these factors and you will find managing your finances very rewarding.

The Accountants’ Perspective

Equity financing, simply put is raising capital through the sale of shares in an enterprise i.e. the sale of an ownership interest to raise funds for business purposes with the purchasers of the shares being referred as shareholders. In addition to voting rights, shareholders benefit from share ownership in the form of dividends and (hopefully) eventually selling the shares at a profit.

Debt financing on the other hand occurs when a firm raises money for working capital or capital expenditures by selling bonds, bills or notes to individuals and/or institutional investors. In return for lending the money, the individuals or institutions become creditors and receive a promise the principal and interest on the debt will be repaid, later.

Most companies use a combination of debt and equity financing, but the Accountant shares a perspective which can be considered as distinct advantages of equity financing over debt financing. Principal among them are the fact that equity financing carries no repayment obligation and that it provides extra working capital that can be used to grow a company’s business.

Why opt for equity financing?
• Interest is considered a fixed cost which has the potential to raise a company’s break-even point and as such high interest during difficult financial periods can increase the risk of insolvency. Too highly leveraged (that have large amounts of debt as compared to equity) entities for instance often find it difficult to grow because of the high cost of servicing the debt.

Adverse Implications
Despite these merits, it will be so misleading to think that equity financing is 100% safe. Consider these
• Profit sharing i.e. investors expect and deserve a portion of profit gained after any given financial year just like the tax man. Business managers who do not have the appetite to share profits will see this option as a bad decision. It could also be a worthwhile trade-off if value of their financing is balanced with the right acumen and experience, however, this is not always the case.
• There is a potential dilution of shareholding or loss of control, which is generally the price to pay for equity financing. A major financing threat to start-ups.
• There is also the potential for conflict because sometimes sharing ownership and having to work with others could lead to some tension and even conflict if there are differences in vision, management style and ways of running the business.
• There are several industry and regulatory procedures that will need to be adhered to in raising equity finance which makes the process cumbersome and time consuming.

The Brains Behind the Investment

It may, at first, seem a strange relationship, but neuroscience has allowed us to better understand how the brain works and how decisions are made. This is key to understanding investment decisions, so, when viewed in this light, it is a perfectly natural connection to make.

Studies on risk: the investing brain

A recent U.S. study looked at the effect of different levels of monetary risk on the human brain. 61 participants were asked a variety of questions such as “Would you prefer a 50 percent chance of receiving $5 or would you rather take a 13 percent chance of winning $50?” and “Would you prefer $10 for sure or a 50 percent chance of receiving $50?”

It was found that the make up of the gray matter of participants’ brains contributed to the levels of tolerance to risk; the more gray matter in the right posterior parietal region of the cortex, the riskier the responses.

While this study has some interesting findings, it is limited and its major importance is in demonstrating the types of relationships that are currently being investigated through neuroscience. This is a taste of things to come, as scanning methods become even more advanced and more specialists are able to interpret the data.

This coming together of economics, neuroscience and psychology has given rise to ‘neuroeconomics’, which has advanced the understanding of economic decision-making.

In the past, economic models have been designed with little understanding of how the human brain works. Predictive models were designed by economists who understood the mathematics very well, but the models would repeatedly fail due to a lack of allowance for human behaviour.

Understanding more about how the brain influences decision-making and thus behaviour is therefore a major breakthrough as economists can include more realistic models of choice.

The choosing brain

Studies have helped to demonstrate that people generally become more risk-averse as they age; and this would seem to correspond with a thinning of the brain’s cortex in older age.

This has consequences for important financial decisions that aging people need to make like choosing the most suitable retirement or health plan; even the most intelligent older adults can make errors and can lose money through very simple mistakes in the selection process.

Traditional models can now accommodate more of what we know about the decision-making of aging brains, for instance, by providing clearer options and simplifying the process of making financial choices. By presenting options in such a way that it plays to the strengths, not weaknesses of the brain, makes it less likely that expensive errors will be made amongst the elderly. It also reduces the need for a ‘trial and error’ type of approach, making policy design better.

The trading brain

Another area of economics that has come under the microscope from neuroscience is trading. The interest in what is going on in the brain when traders make their decisions to buy or sell is not surprising, given the huge stakes.

A U.S. study earlier this year looked at trading success and how it was associated with areas of the brain associated with reward and response to gut feelings.

One of the findings from the study was that an area called the ‘nucleus accumbens’ (associated with reward) was more active and excited when prices rose; the second key finding was that the more successful traders received signals from the ‘anterior insular cortex’, which is an area that is active during bodily discomfort and unpleasant emotional states: like an in-built warning to sell before a bubble bursts.

Send Money Abroad In An Efficient Manner

If you don’t take enough care, it may cost you much more money, as most people are oblivious to the hidden fees. Let’s find out more about how to make the process safe and cost effective.

For sending money overseas, you will have to bear two types of costs: the currency conversion cost and the cost to transfer the money to your desired country. The service provider can be an FX broker, a bank or a money transfer company. The thing is that they don’t convert one currency to the other on the basis of the inter-bank rate. Instead, they make the exchange at a lower rate making a good deal of profit. Give below are a few tips that may help you go through the process efficiently.

Foreign Exchange Brokers

Acting as intermediaries, foreign exchange brokers deal with a lot of banks and provide the best exchange rates. While their primary role is to convert currencies, they can also help you send money abroad for a reasonable fee.

While this option is cost effective, especially if you want to transfer over $5000, the process can take longer to complete. Choose this option if you don’t have to send your funds abroad urgently.

Commercial Banks

Banks are the most common means of international money transfers all over the world. However, the fact of the matter is that banks are known for charging hidden fees for money transfers, and the fees will continue to go up as the amount of money that needs to be transferred goes up. But the advantage of using a bank to do this job is that banks are considered the safest way of transferring money abroad. So, if you are planning to do the transfer through a bank, make sure you choose a bank that charges a minimum amount for transfers.

Money Transfer Providers

If you want to send less than $5000 to someone in another country, money transfer providers is probably your best option. They are best in terms of cost of transfer. Typically, they offer bank-to-bank transfers. You can also find some providers who allow you to receive cash at cash pick-up branches.

Online Money Transfer

These service providers allow you to send money abroad charging a minimal fee. Usually, they charge just $1 extra for the transfer. Some providers don’t even charge this fee.

These providers are regulated by the financial authorities of the same country they operate in. They use the state-of-the-art financial technology for sending and receiving funds. So, you can count on them with your eyes closed.

With online money transfer, you don’t need to visit a financial office. All you need to make the transfer is a computer and a fast internet connection.

So, before you choose any of the three money transfer services mentioned, do your homework and compare them with each other. You can go with the one offering best services at the lowest cost.

Money Depletes Resources

If you were God what would you say to humans standing before you and awaiting your judgment? Would you ask why metals are more important than breathing, or why electricity extracted from coal is more important than food? Perhaps you might ask why so many hate their grandchildren and the future that could have been but will never be because this generation didn’t care.

One thing reigns supreme over the man-made world of destruction – Money. If you were questioned by god, what would you say in return? Perhaps you would answer that without money you could not survive in a world that is dependent on it. You might say that the food in the jungles you are helping to cut down is not adequate for your taste. Then again you might argue that you need the electricity to see and the coal to keep warm.

But what if God reminds you that money has only been around for 2,000 years and that trade and commerce are the result of the second beast of Revelation, who is Constantine? You might then learn that it was he who invented the Catholic Church, Jesus Christ, and the economic system; that it was he who blinded and deafened you to the facts because he forced everyone to worship his gods.

Sometimes we need to reflect on these past events to understand where we are and why we are here. In my case I have an advantage because of memory of reincarnation and knowledge that we have all lived before. That wipes out the religious belief of heaven and hell, as well as devil, angels, and saints.

The spirit lives beyond the grave and is reborn some 7 times, according to Job 5:19-22. We are told that in the last days the graves will give up their dead in Isaiah 26:19. We are also told in Isaiah 45:4-8 that there is only one God and nothing or no one else. That means the Trinity, which was introduced by Constantine, does not exist.

Then why are we here and what is life about? Why do we suffer and lose loved ones? Why are things so hard to do and sometimes seem impossible? Why should we make an effort to be successful?

The answers are in the bible and there is one in prophecies are the explanations. A group called the Children of Israel are put through the fires of refinement to produce perfection at the end of the day. That time is now and they are blossoming with spiritual gifts that include miraculous healings and peace beyond knowing.

There is no judgment of anyone because we have all done what was required of us. Only the spiritual people are meant to survive the devastation that is coming and only God knows who they are.

While the rest continue to use money to deplete resources, pollute the environment, make wars, and cause hardship for many they are like the soil in which God’s plants have grown.

Be Free From a Poverty Mental Stronghold

If you feel you might have a poverty mental stronghold keeping you from your earthly wealthy place and you want to be set free, then this article is for you.

Gary was a Christian who had been taught in church that it was good to worship and serve God, but to have an abundance of “things” was not acceptable. The “prosperity message” was taboo. However, he eventually discovered that according to God’s Word, financial prosperity was the Christian’s inheritance and we are blessed to be a blessing.

“Beloved, I wish above all things that thou mayest prosper and be in good health, even as thy soul prospereth” (3 John 2).

So Gary began to implement all the prosperity truths he had learned, but instead of getting out of debt and enjoying the abundant life, he continued to flounder financially and stayed in debt. Fortunately, one day the Lord revealed to him the problem. All the earlier teaching on how it was wrong to seek prosperity had become a poverty stronghold in his mind that kept him out of his God-ordained wealthy place. The Lord revealed to him how to destroy that stronghold with God’s mighty powerful weapon, the Word of God.

“Is not my word like as a fire? saith the Lord; and like a hammer that breaketh the rock in pieces” (Jeremiah 23:29)?

The Lord’s instructions were simple. To destroy the stronghold of poverty in his mind, he was to speak three scriptures out loud four hours a day until they dropped down into his heart and became reality. This would set him free from the stronghold of poverty holding back his God-given prosperity. Here are the three prosperity scriptures the Lord instructed him to speak out loud:

“The young lions do lack, and suffer hunger: but they that seek the Lord shall not want any good thing” (Psalm 34:10). “For ye know the grace of our Lord Jesus Christ, that, though he was rich, yet for your sakes he became poor, that ye through his poverty might be rich” (2 Corinthians 8:9). “But my God shall supply all your need according to his riches in glory by Christ Jesus” (Philippians 4:19).

Am I saying you must spend four hours a day speaking out loud these promises to destroy any poverty stronghold you might have? No. How much time you spend a day declaring these prosperity promises is up to you. But I will say this, the more time you spend doing it, the quicker the results.

I suggest starting out with fifteen minutes a day and increase it to one half hour or more. Gary said that within three weeks he noticed a difference in his life and eventually he was free from the poverty stronghold that held him captive. He got a revelation that God was his source and not his job, the government or anything else.