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Ways to Finance a Business

  The way that you go about financing your business may vary depending upon a number of factors: The stage of evolution your business is at;  Your past trading history; The purpose you need the funding for;  How much you are planning to borrow and how that is measured against your overall financial worth and that of your business; etc. Let’s have a look at each of those in due course. The stage your business is at Companies that are still in the early stages of setup or with a very limited trading history may have special challenges in terms of finding business launch funds. Typically lenders may wish to see that you are investing a relatively meaningful amount of your own finances into your enterprise (e.g. through re-mortgaging) thereby effectively sharing the risk with them. Lenders in this category are often the new business section of the banks, some finance houses, business angels and very possibly some of the specialist venture capitalist companies. It is also not unusual to see new businesses drawing upon family finances from relatives, where such a thing exists. Your past trading history Businesses that have two or more years of trading and accounts behind ...

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Is Refinancing into a 40 Year Mortgage Right for You?

  An affordable mortgage payment is a vital aspect of personal finance. With interest rates near historic lows and home values spiking across the country, many consumers are considering mortgage refinancing. The decision to refinance your home can be complicated by various home loan choices. Refinancing into a 40 year mortgage is among the options that may be suitable for you depending on several factors. With best practices drawn from Elliott Broidy, here are some positive and negative attributes of a 40 year home loan. Pros: Yes, a 40 year mortgage can greatly reduce your monthly payment. Since your mortgage balance is paid over a longer term, a smaller mortgage payment will result. Real estate investors such as Isaac Toussie may prefer 40 year mortgages as leverage for low payments on properties that are being developed for future sale or lease. Homeowners who intend to sell their houses in the near term may also consider 40 year mortgages for similar reasons. Since home prices are dynamic, these consumers should also be prepared for declines in equity that may require out of pocket expenses to sell their house. A longer home loan can help you stay in or buy a home ...

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3 Inexpensive Ways to Reward Yourself this Holiday Period

    This year has been one to remember. Your life has changed, punctuated by brilliant successes, retrospective failures, and a few realizations that may still rock the boat of your self-concept as an individual or professional. The passing of another 365 days demands each and every moment be recognized and celebrated, and what better way to mark the events and non-events of the year than a dose of inexpensive self-love? You don’t need to splash out on an island holiday or the latest big screen TV, big ticket items (unless you’ve budgeted for them in the long term) won’t do much for your financial health. Instead savor the small things in life, the lingering flavors and long balmy nights, under a clear sky. Learn How to Relax   Imagine this…You, a few friends, the calming sounds of waves pounding an abandoned beach or spritely birds serenading you from the trees as you stretch to the sky and go through the motions of a new yoga ritual. Yoga and Tai Chi aren’t extreme sports or competitive. You won’t find many spectators chewing a hot dog on the sidelines or heckling participants, and that’s sort of the point. Taking a break ...

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The Ins & Outs Of Declaring Bankrupcy – What You Need To Know

People suffering from serious financial problems and debt often feel like they have nowhere to turn and no viable solutions. While it is a difficult situation, a consumer has multiple options to fix the problem and get out of debt. An effective solution to overbearing debt is to file for bankruptcy. One should not take this lightly as it will cause problems in the future when a consumer wants to borrow money. However, for many, it is the only way out of the problem. With this in mind, here is a quick guide on the ins and outs of filing for bankruptcy. Determine: Now, some people will not want to file for bankruptcy as it is a serious and time-consuming manner. To understand if it is right, one must sit down and run the numbers. To do this, an individual should use a piece of paper or an Excel document and note all of his or her debts, income and monthly expenses. In some cases, a person will notice that he or she will only need to make minor adjustments to pay off the loans. Other times, a consumer will see that he or she will not have any other ...

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Boosting Your Net Worth: What You Should Know About Life’s Common Liabilities

Your net worth is pretty simple to calculate, but there’s more to your finances than just a dollar amount. Even if you have a high net worth, the nature of your liabilities could be holding you back from your maximum potential. Your net worth changes frequently in response to your earnings, saving, and spending habits. If you want to increase your net worth from where it is now, you basically have three options. You can reduce your liabilities, increase your assets, or do a combination of both. Your Mortgage Your mortgage is probably your largest or most valuable asset. It serves a dual purpose – giving you a place to lay your head at night and building up a savings in the form of home equity. As your equity value increases, your net worth increases. But how do you increase the equity value of your home? Well, there are a few ways. You can wait for market forces to push up the total value of your home while you continue to pay down your mortgage. You can also do renovations to the home if you want to take a more proactive approach. In general, renovations like updated kitchens and bathrooms ...

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