Its been a long time since I posted on this blog, things have changed a lot since that time so I totally forgot about it. Well I have some new interests and hobbies to persue besides my businesses and investments. One of my new passions is cooking. I have been doing some really good things with it. I started with easy stuff but when I really got into it, i started to enjoy this.
I feel this is an art everyone should learn, it is a form of expression as well. The other day I was looking at things for my new kitchen which I have completely redesigned. I wanted a good food processor and I got to this site here http://www.squidoo.com/black-and-decker-food-processor . Finally got a nice one for my kitchen. It can do a lot of things amazingly well.
read more »
I was planning to start a new business of renting out boats for recreation and for commercial use as well, dividing into two different segments. This would cater to two different set of clients. We have boats which are used for fishing in our area and there are tourists coming over almost all through the year. So I plan to go for the first section which is to rent out boats for recreation. This would require me to have atleast 2 medium sized boats which are in a good condition. This business depends on the kind of services you can provide rest depends on your marketing skills. A good service definitely increases your goodwill which is of great value.
Now I have arranged for some finances. I had some savings to buy one boat but I will keep them to fund my running cost which includes the managing part of it. I will be going for boat loans on both the boats and they will be brand new ones. Getting some reliable people is the tricky part. I don’t want people who are not committed to their work. I don’t really trust people easily and I hate people who have a casual attitude towards work. In the past few years I have met so many people like this that I have to be really careful about getting the right people. From the calculations I made I will be needing a staff of 7 to 8 people right from the start.
read more »
I have always emphasized the importance of financial education and learning finance. One of the things that came to my attention is how ignorant people are when dealing with the finance. One of my clients was looking to take up a boat loan. Well he could get a boat loan, not an issue, there are so many banks and other financial institutions ready to give loans for exactly this purpose, buying a boat. But that person almost never made his past payments on time and even had a defaulted on a loan just because he did nt want to pay back. So what he needed actually was bad credit boat loans.
What he did nt understand was the credit history. He did nt actually know the concept of credit history of an individual, this is one of the most important aspect related to an individual’s credibility. As with boat loan or any other loan or mortgage, a lender always makes a check of the borrower’s credit history, whether the borrower has the capability to pay beck the loan on time, whether he has been paying his past payments on time. A good credit history can mean that you qualify for a loan easily and can get a better deal than others on your loan if you can negotiate on it. A bad credit history means it can be tough for you to qualify for a loan or if you qualify it would be expensive to get a loan. The interest rate would be higher as the lender has more risk on giving you a loan. Bad credit boat loans is also possible, there are not too many lenders giving bad credit boat loans but still there are some who specialize in such loans.
read more »
Personal loans are one of the most common of the credit given by the financial institutions. This is way to get funds when you are in need and you can put the money to any use you want, it could be a necessity of it may be for other purposes. If you have a bad credit the more problems you will have getting a personal loan. Infact you will be approved for a secured loan because of the high risk assocated with the bad credit report. It can be secured by putting any asset as a collateral which can cover the payment incase of a default.
There could be many reasons for a bad credit, one of the reason could be bad handling of the funds or mismanagement of money. Other reasons can be death of the earning member in the family, layoffs or even medical emergencies which are expensive but can not be avoided. Layoffs are very common when the economy is down and the foreclosures are also on a high so it is a tough financial situation for a lot of people.
There are many lenders which specialize in giving loans to anyone with bad credit as it can happen to anyone even the responsible people. Most likely the interest rate would be a little high because of the high risk involved. Getting a personal loan and paying it back will also help you rebuild your credit again. You should try and make the payments on time as this is a good way of building up your credit in future.
However you should be a little cautious while applying for a personal loan especially if you are doing it online. Never agree to pay any processing fee for personal loan as it is also against the law for a lender to ask for processing fee. Most of the lenders know that a person who wants a loan on bad credit is in great need and they can turn it into their interest so be careful and if you are suspicious don’t apply for a loan with that lender.
read more »
A very important factor to run a business is the capital. You need the finance or money as the capital to start or expand a business. A lack of funds or liquidity can seriously affect the business efficiency in almost every respect. Now not all people or entrepreneurs have good amount of funds to back their business. Then arises the need of arranging it from the money market in other words getting a loan or a business loan. There are a lot of options to get loans you can get a loan for everything you need. Business loans and home loans are most common of them.
Small business loan or finance can be secured or an unsecured one. A secured loan will be a loan with some asset of the borrower as the collateral which means lesser risk for the lender in case of a default. So the terms of the loan would be favorable to the buyer in this case. The unsecured loan is just the opposite when there is no security kept by the borrower, so the risk is entirely upto the lender and more the risk of the lender, the expensive the loan would be in terms of rate of interest.
read more »
I wanted to get homeowners insurance for my home which was a necessary requirement for getting a home loan. I contacted my agent for this and got the quotes from him. But with my own experience I could just see the problems involved with getting the insurance done form an agent. Most of them are interested in selling a policy which has high commissions instead of trying to save you some money. Besides being expensive, that could mean a bad choice for me.
A bad choice in having a bad homeowners policy could mean that you will not get a full benefit of the policy when you are in maximum need of it. So it is better to do some in depth research before getting any kind of insurance policy and that is true for homeowners policy as well.
There is a good way to research, compare and choose homeowners policies from different companies and that is using a homeowners insurance calculator. This tool can help you in getting a rough idea for your policy by changing the variables like the area of the property, kind of construction, the location of the property etc to get the value to be insured.
A homeowners insurance calculator gives you the rough estimates to compare different policy and decide which one is the best. It is good to do some research and save yourself from problems later when you need it the most.
I think the concept of homeowners insurance calculator is pretty good if you know how to make use of it. You don’t have to call up your agent for more choices. If you like the quotes you can just call up the company directly or send them a mail. Anyway I don’t like the pushy attitude of the loan agents.
read more »
I strongly believe that learning is a lifelong process, the day you will stop learning will be the day you will stop growing. Learning becomes all the more essential when it is about finance. Everyone should know the meaning of financial terms and know how money works. Loans mortgages are just the financial tools which you can use to your advantage once you know how to work them out in the right way. Most people would see a loan as a liability, that’s true because you have to pay it back it does cost you but still it is a money tool and you can use it to your advantage.
If a person does not know about the finance part of his life, the people and the situations he comes in touch will always take unfair benefit out of him or make him pay for his ignorance. And this ignorance cost can be really high. I always tell everyone to go for the best education they can afford. That is one of the best investments they can make for their children, this is one thing that will empower them for a lifetime.
read more »
I am looking for a second hand boat in a good shape. Basically that would mean a boat which has no major repair work done on the vessel on the engine is in a good shape. Being a Automobile engineer I can very well take care of the engine part. I ll just have to look in to the vessel carefully.
Last time I went to the boat dealer for something like this was more than a year ago when I had to purchase a mid sized boat for one of my dear friends. I was amazed at the quality of the work done to conceal the repair of the vessel. Only an expert could make it out. That makes buying a boat from a dealer a risky business unless you know what you want and what you are doing. Have to be careful at that. He finally managed to get a good one at a reasonable price, he is happy with it, the boat is serving him well with no major expenses.
read more »
I had a loan against property or a mortgage on the fixed rate basis at a 20 year term. Half way through the loan now. As we all know economy is going on a low, there will be less jobs, layoffs will be common, this makes it hard to keep up with all the fixed expenses you have especially when you are directly affected by the slowdown. I am retired but one of my kids is having a problem with his job. So have to cut down on my expenses and help him out. I guess worse times are coming ahead with respect to the economy and whole world would be affected in some way.
Taking a loan on a fixed term can be an expensive decision in this situation. You can not change the rates much while the fluctuating rate has gone down as a result of rate cut by the banks to increase borrowing and spending. This makes fluctuating rates as a better choice. I am paying more because I choose the other one.
read more »
Owning a boat is an experience in itself. Having owned quite a few boats now, I feel there is a lot to learn for the people who are just starting out fresh with a boat ownership. This is one thing that will give you a sense of pride if you own a masterpiece. Owning one is one thing and taking care or maintaining it is a different story altogether. You can not keep delaying the costs if your boat needs some repair work. If a car breaks down you can get it towed to the repair shop and get it fixed easily but if anything happens to the boat, it can be very risky. Sometimes you are all alone in the waters and getting help at an instant is just not possible. To avoid any unfavorable circumstances you have to keep your boat in a very good condition and it will serve you for years. This probably is one of the biggest things I tell everyone who like to own one and don’t have much experience.
Always get what you need. There are hundreds of models available in the market. You need to get one which is best suited to your need. That will decide upon the kind of boat you want and the expenses that would be incurred on getting one including all the accessories which are as important. Otherwise there is no limit on what you can get and what you can spend. Whether you want a boat for recreation or do you want to use it professionally, What kind of water will be using it for, what size suit you the best, what kind of engine power and seating capacity will it require are some of the basic questions you should ask yourself before making a decision.
read more »