Everything You Need to Know about India’s Gold Strategy

According to the World Gold Council (WGC), Indian households today hold the world's largest private stock of gold, a whooping reserve of almost 25,000 tonnes. With a total worth of approximately Rs 110 lakh crore, it is almost 40% of the country’s GDP. All of this value lies unused, locked away in private safes & lockers. Launched by the government in 2015, The Gold Monetisation Scheme (GMS) was aimed at converting this idle value into a productive asset for the country, as well as reducing the country’s dependence on import of gold.

Amidst the Covid-19 pandemic induced economic strain and the crash in gold imports, the government is now looking at further ways to tap into this reserve to aid the economic revival. Let us take a look at what the plans are:

The Issue :

According to the latest data from the Ministry of Commerce, the huge shortage of demand due to the Covid pandemic have caused gold imports into the country to plunge down to $79.14 million during just the first two months of 2020-21. Combined with domestic bullion prices reaching a record high, the gold demand for India in 2020 is expected to hit the lowest level it has been in 26 years, as predicted by the WGC.

The News :

In the light of the above, jewellers & bullion dealers have been approached by the government for strategies on how to tap India’s idle gold. Solutions proposed by the industry have been to align the present income tax law with the gold deposit schemes, raise the limits of gold holding labelled as 'Streedhan', slight modifications to the GMS in order to make it more lucrative, and to afford local refineries greater flexibility to help them scale up as part of a broader gold policy.

The GMS Situation :

The primary objective of the GMS was not only making the existing gold schemes more effective, but also broadening the scope for mobilising household held gold and putting them into productive use. However, being only able to garner deposits of a paltry 20 tonnes of gold till now, the existing GMS seems to have fallen short of its objective so far.

Jewelers and market analysts attribute this effect to reluctance & fears. Since households accumulate gold over the years, the older documents for the purchase may no longer be available even if these purchases are legitimate. This has given rise to fears of being questioned by the tax department, and a reluctance to participate in the deposit schemes. 

GMS 2.0 Advantage :

The revamped GMS provides a number of benefits to gold investors. Under the scheme, they can make term deposits of their idle gold, which safeguards their gold, as well as provides interest returns. Since the gold is deposited in GMS, investors save storage costs on physical safekeeping of their precious metal, while also benefiting from the capital appreciation and interest accumulated over time. Additionally, this gold deposit can be in any form they choose — whether it be jewelry, coins, or gold bars, and during redemption, the depositor can opt to take either cash or gold against their investment.

Possibly the most lucrative benefit is that the interest earned by investors on the gold deposited shall be exempted from tax. Thus, investors can earn up to 2.25% pa in case of medium and long-term deposits.

Industry Proposals :

In various discussions with the government, key industry players have proposed the following modifications to revamp the GMS:

• Income Tax Benefits :

The Gem & Jewellery Export Promotion Council (GJEPC) proposes linking the GMS with the Income Tax Act which according to a 2016 directive states that even if they do not appear to tally prima facie with the income record of an assessee, the following amounts of gold jewelry in a household shall not be seized :

• Up to 500 grams per married woman

• Up to 250 grams per unmarried woman

• Up to 100 grams per male member

• 
  

The industry also believes that these limits, fixed in 1994, need to be revised to 1 kg, 500 grams, and 200 grams, respectively.

• Added Flexibility

Another issue flagged was that although the existing gold deposit scheme allows customers to deposit their idle gold for earning interest, there is a lack of flexibility. Industry sources indicate that they want the deposit certificates under GMS to be made tradable in demat form with tracking mechanisms aimed to give these deposit certificates the added feature of liquid assets. The minimum deposit has also been requested to be revised to 10 grams instead of the present minimum 30 grams.

Additionally, the industry has requested a more effective scheme to fit in with the existing regulations on gold import, declaration and taxability of income and wealth, and prevention of money laundering, instead of a plain amnesty window as is the case now.

• Gold Account Incentive

Record low imports of bullion and dore bars (a semi-pure gold alloy) have led gold refiners to recycle scrap jewelry to meet the current physical gold demand. In this scenario, incentivising the GMS by the government for banks and allowing the opening of gold metal accounts can go a long way in meeting the country’s need for new gold by procuring & recycling old gold from domestic holdings, according to James Jose, MD, CGR Metalloys.

The Ministry of Commerce and Exports is also working on a strategy to enable delivery of locally refined gold via its Futures and Options contracts.

• Refinery Project Encouragement :

Nearly 40% of the total gold imports of the country is in dore form by refiners, while finished gold imports by banks make up the rest. Dore import licenses are held by 15 out of the 29 refineries. The industry had, in the past, proposed the government to encourage large greenfield refinery projects like UAE and China to allow the export of refined gold from India. If banks are allowed to purchase ‘Indian good delivery’ bullion from BIS certified gold refineries in India instead of from those abroad, it will encourage households & jewellers to sell more gold to the local refineries, and together, this can reduce the need for import of gold. 

• Higher Rates of Interest :

Depositors now face a loss of nearly 7-14% of the principal amount as well as the interest Counting the making charges & process loss. Apart from the visible reluctance of Indian households to part with their family jewellery, this has been another clear reason for the gold deposit scheme to languish. A higher interest rate on the gold deposited has been proposed  as a way to compensate for this loss.

The new and improved GMS is set to be developed by the Government of India after taking all these suggestions into consideration. With gold prices set to hit a record high in the current fiscal year, this is the right time to consider taking out your idle gold from bank lockers & putting them into the new gold deposit scheme, so that your precious metal can give you greater returns than ever.

Read More

Further Steps Coming to Boost The Flagging Economy

Following up with its plans to rebuild the economy of the country ravaged by the coronavirus pandemic, the government may soon announce a number of fresh measures, including policy changes & large scale infrastructure projects, aimed at making local industries more competitive.

Government sources indicate that some of these measures, which may include reorganising the tax administration, may be unveiled by none other than Prime Minister Narendra Modi himself. The proposed plans shall come after the Pradhan Mantri Garib Kalyan Yojana and the Atmanirbhar Bharat Abhiyan measures. While both of these aimed at providing a cushion to the economy ravaged by the coronavirus, the next set of measures will be focused more on rebuilding it.

The proposals that are currently being worked upon include an increased digitization of the tax administration that enshrines taxpayers’ rights, frontloading defence purchases, and speed up spending on key infrastructure projects, which will thereafter have a strict deadline. 

On the manufacturing side, the main aim of the proposals is enhancement of the competitiveness of domestic industries, while easing setting up operations in the country for foreign manufacturers and making it more lucrative for them. Recently released data by the government indicates a contraction of industrial production by nearly 36% in the June quarter. The proposed measures will attempt to counter this downward slide. They were designed based on feedback from global manufacturers, who had indicated their requirements and incentives for setting up factories in the country. Government sources indicate that thorough deliberations have taken place to come up with a broadly structured plan to boost local manufacturing and make the country more self reliant and a mixture of supply side & demand side measures will be introduced.

In addition to the above, the government has increased tariffs on many products, as well as demanded import licensing for others. These measures will make goods from overseas more expensive, and will hopefully encourage domestic production. 

Soon after the nationwide lockdown was imposed at March end, the Pradhan Mantri Garib Kalyan Yojana was announced, which provided free foodgrain as well as cash payments to the impoverished senior citizens, women, and farmers. Subsequently in May, the Rs 20-lakh-crore Atmanirbhar Bharat package was announced, and this included, among other measures, a credit guarantee scheme for the MSMEs, as well as key reforms in the agriculture & farming sector. Buoyed up by these two packages, rural demand has managed to remain strong. Now, the next set of economic measures will very likely focus on the urban regions by providing backing for businesses and securing jobs.

Read More

On The Road to Economic Revival : PM Narendra Modi Takes Further Steps to Recover

Prime Minister Narendra Modi held a virtual brainstorming session with key regulators of the financial sector on 30th of July to discuss various measures the government intends to take to help revive the Indian economy hit hard by the COVID-19 crisis. The 3 hour long virtual meeting was attended by RBI Governor Shaktikanta Das, Sebi chairman Ajay Tyagi, Irdai chairman S C Khuntia, and PFRDA chairman Supratim Bandyopadhyay along with Finance Minister Nirmala Sitharaman, Road Transport Minister Nitin Gadkari, and Commerce and Industry Minister Piyush Goyal among other ministers & top government officials. 

The meeting was organised to discuss various steps taken & can be taken by chief financial regulators, primarily the Reserve Bank of India, to help push the economic growth of the country at a time when it has been predicted by the International Monetary Fund (IMF) to contract by as much as 4.5% during the current fiscal.

According to the IMF, it is yet possible for India to introduce fiscal & monetary measures, but for these measures to work as they should, she needs to contain the coronavirus spread so that the economic recovery is sustainable.

Since February, many different measures have been adopted by the government to help tide over the economic downslide triggered by the global recession & COVID-19 pandemic. Let us take a quick look at some of them :

• A Rs.20.97 lakh crore economic package was announced by the Finance Ministry, nearly 40% of which included the different liquidity measures introduced by RBI. 

• By greatly relaxing the monetary policy, reducing the requirement of reserves, & introducing liquidity upto almost 3.9% of the GDP, the Reserve Bank of India has sought to tackle the looming crisis ahead. 

• The Securities and Exchange Board of India (Sebi), Insurance Regulatory and Development Authority of India (Irdai), and Pension Fund Regulatory and Development Authority (Pfrda) have also taken up measures aimed at providing relief to individuals and industries. 

Challenges likely to be faced by the regulators in the post-covid world, as well as various key elements of the Atmanirbhar Bharat scheme were also discussed in the aforesaid meeting. 

The government, after its previous economy revival measures, is now deliberating another round of stimulus aimed at boosting demand. Prime Minister Narendra Modi earlier held a virtual meeting with the CEOs of various public & private sector banks as well as the heads of different non banking financial companies (NBFCs).

In this virtual meeting, PM Narendra Modi emphasised on the essential role of the finance sector in supporting as well as helping revive the economy. He requested bankers to :

• Reconsider their current practices to help ensure a stable growth of credit 

• Encourage entrepreneurs, small scale business owners, farmers, self-help groups, etc. to draw upon & use institutional credit for growth 

• Be bolder in dealing with bankable proposals being less apprehensive about possible non-performing assets (NPAs) 

PM Modi impressed greatly on the need for this sector to step up & help the revival of the economy, also assuring them that the government will take all the steps necessary to support the finance sector and insulate it from losses.

Read More

How Can I Pay Taxes Without Facing IRS Complications

In today’s world, if you get in touch with a financial adviser, the first thing he will ask you to get out of debt as soon as possible. The more you delay to get rid of debts, the greater your complications. Now, it’s a common belief of tax payers that clearing taxes is one of the toughest jobs on earth since dealing the IRS is not easy. Remember, IRS has the ability to get your wages garnished and makes a Topsy-turvy of your financial records. So until and unless, you know the right ways for tax help, you can never ever manage to avoid the IRS complications:

One of the biggest blunders is to hide things when it comes to paying taxes. Remember, it’s not easy to waive off IRS dues and you are bound to pay them. There are some debtors who think that hiding the previous dues and paying only the current ones will keep them safe. Well, it’s not the truth. IRS is aware of everything and they maintain tax records of each and every citizen in the United States.

There are several companies available online that deal with tax management issues. You can always talk to tax professionals online to get tips and suggestions as how to deal with IRS. It might not be easy for one to deal with IRS all on one’s own. Therefore, it’s wise to go for professional help.

Waivers are offered by IRS that rather helps to lower one’s net tax payments. If you have a strong financial issue and therefore might not be able to pay taxes in the near future, you can always get waivers.

Chalk out a payment plan where you can pay your taxes in small installments. For this, you need to convince the IRS that you have a low profile job, or that you are undergoing an expensive medical treatment.

Keep the above mentioned points in mind and proceed accordingly for tax help. So, doesn’t it seem easier to deal with the IRS regulations and pay your taxes.

Read More

Your Money Matters: Let's Do Money Work For You

Investment and saving money, nothing more than to restore the future welfare of the future with all the luxury and the good performance of current investments. The need to plan today, and know the power of their own money.

There are different varieties of investments available in the market with a choice of rapid investment, including investment in cash, debt securities, stock trading, mutual funds, derivatives, commodities, and real estate. One needs to know the importance of investment and the risks involved with it . In the short term and the election of long-term investment makes a good difference to meet the needs of an investment.

Here is 6 valuable options to put your hard money to grow

1. Fixed deposit : FD is a safest way to grow money, unfortunately it is the slowest but one can make double of his investment in 10-12 yrs ( depend on % of return given by banks or financial institutes)

2.Certificates of Deposit (CD’s) : This is almost similar to FD except the % of return, here one get higher yield of return compare to FD.It is also a slow process

3. Investing in stocks or mutual funds : the security and mutual funds are a great way to not only make money but to learn to invest. The immediate problem is that if you invest only $ 100, you'll pay at least 5% fee just to trade. The return on investment is exponential, especially if you play in penny stocks, only to have $ 100 means you probably will not gain much.

4. Commodities : If you were smart enough to know that the economy is going to tank and decided to buy things like gold, then the $ 100 now have tripled. Commodities are things like water, oil and gold, and usually when things go wrong, things go well because they are in high demand. In precious metals, you can actually buy instead of investing in them and people always like to look shiny things!

5. Forex : Billions of dollars are invested every day in currency trading and Forex allows investors to bet against each other. $ 100 can buy many other countries, currency, but decided to play the foreign exchange market should only be decided after thousands of hours of research have been put in. time zones allow you to shop around the clock.

6. Treasuries are safe : Treasury bills issued by the U.S. government and is regarded as very low risk investments. They are fully guaranteed by the government. You can choose the date when the investment is fully realized. In the short term treasury bills are the safest investments with maturities of 13 or 26 weeks.

Read More

7 Tips: How To Make Better Financial Plan

It might be a good investment plan or estate plan or a pension, but without coordination of these plans, you are most likely to lose money. The reason is that all the seven stages of the objectives of financial plan you want when you want and the tax benefits and a comfortable amount of risk. Most people focus investment plan or retirement plan and lose the big picture. Here are 7 steps that you need to succeed in creating financial independence:

1) The request for emergency funds. You should have 3 to 6 months salary in an account that is accessible without charge. Use this money, no credit cards when the water heater must be replaced or other short-term contingencies.

2). Insurance is a necessary evil. We must ensure that our car, house, and other important assets. You may also need life insurance to replace lost income and pay the debt in case of death. Protect what you have acquired the right kind of insurance for the amount of coverage and affordable too.

3) The Estate Plan. The development plan of the basic documents needed is the durable power of attorney financial management and durable medical power of attorney. For larger estates, living trust, marital trust, and the Charitable Trust may be suitable. These documents will help to keep more of what you've earned your family for generations to come.

4) Goal Setting. This is the glue that holds everything together. When it comes to offering the temptation to invest in a friend, you can return to the financial plan, and remember that such an investment can help you achieve your financial goals, or may add to unnecessary risks. Your commitment to your goals to keep you on track for the long-term success.

5) Investments. It is your asset allocation plan for your goals and understand that they are comfortable with the risk you take to get there. Without an investment plan that is the basic objective, which will invest in new fads and the economy instead of what you need.

6) pension plans. Its revenue base to supplement his Social Security plans from defined contribution plans such as defined benefit and 401K. Make a maximum contribution to these plans each year. They grow quickly because of the tax holiday because they are painless and directly from their salary.

7). A good tax plan is to take all the deductions you are legally entitled. It also means taking advantage of tax deferred plans, and the use of tax credits each time you qualify. Every dollar saved in tax money in your pocket. Do not forget these strategies.

He feels he can not do this alone? Find a financial adviser fee only a blueprint of your financial situation or coach to guide you through what you have and what you need. Your financial future depends on the coordination of these steps to create wealth.

Read More

How To Find A Good Mutual Fund?

Mutual funds are a good place to park your money. India has more than 40 AMC offers more than 1,000 systems. Increase the number of systems has also led to increased investor dilemma in mind. Investors are often confused when it comes to choosing the bottom right corner a number of funds. Many investors also believe that "all" the system can help them achieve their desired objectives. But the fact is that not all systems are the same. There are a variety of aspects within the system, the investor should carefully consider before making a short list of investments.

First, know your own needs. Are you investing to meet short-term or long-term goal? Or is that just because he listened to invest in the cafeteria of the office that you should invest in a particular fund? Not all funds of the plan have the same purpose, so they need to know why investing.

Another aspect of choosing a system of investment funds is the time of your investment. What's at Are you ready to invest in the market, or how long you need the money invested. The race must be at least 3-5 years, as the investments of the Fund are intended for longer. However, if you are looking for a shorter period, you can choose to invest in debt investments.

You should also consider the philosophy of the project, investing in it. It is the underlying value of the house follow the philosophy, or follow the philosophy of growth? All fund houses can not be good all the philosophies. Generally, they are generally good, in one or the other. When you agree with the philosophy of the fund, only if you choose to place funds.

The history and past performance regimes plays an important role in selecting a fund. There are a lot of new money and many of these funds will not be as successful as others that are in force in the market for several years. You should invest in mutual funds that have a successful experience they have built over the past 5-10 years. Past performance of the system also play an important role in selecting a mutual fund. However, you should not rely heavily on past performance of a fund, as many investors analyze past performance and assume that the system will continue to return the same in the future. Past performance is not always true and can often be wrong. Each credit union can do well in a short life as luck and other factors may come into play so do not choose to invest in a plan just because you did well in the recent past. You should be interested in the long term performance of the system.

Read More

How To Successfully Invest In The Stock Market

For successful investing depends on the type of business you are thinking about joining the class or type of business. T investing in stocks is an art you must master if you need to succeed. When you decide to invest in the shares of some of the things to consider.

• Invests in companies that are worth more than their market value

• Examine the profitability of the company, this can be obtained by evaluating the return on equity, return on investment and profit of the company. Return on equity is the rate at which shareholders earn their actions. One of investing in the stock market is worth investing in companies whose return on equity above 15%. Return on equity is calculated by dividing the net assets of the company. Net profit for the company's net sales should be considered, because the sales to determine the company's profit margin.

• Avoid large companies debt ratios, even if their income is high. This can be estimated liabilities of the company dives stockholders' equity.

• Understand your company to join very well, avoid investing in companies and businesses that you are not very familiar with. A good knowledge of the company helps you to participate in its growth and development. In this business, you understand that you are able to analyze the market and also to assess the complex markets.

• Position your business in the long-term actions. Investing in shares of a strong long-term help to keep protected, you can share.

Remember that when you invest, your financial plan should be flexible. Do not stay in financial terms, as some have not. If you decide to invest in stocks to ensure that invest in companies that perform various activities. Investing in companies that are similar are dangerous because they are serving the same market. When demand drops, you could lose much more than expected.

Have realistic expectations of investment are no more than dreams to make a profit as a result of business losses must also be taken into account. Expectations of the surplus is going to ruin your investment culture.

Stock market you can lose money, especially when the time to reach and the shares are traded at an affordable price. Join the pretty stock market information on how business works. Its advantages and disadvantages are clearly evaluated.

Read More

Student Loans In Default – Pluck Out The Problems

Who does not dream of a high profile career? But for that, one must have a good academic profile. Unfortunately, education seems to be a luxurious product nowadays. With skyrocketing scholastic expenses, education has become an affordable commodity only for the well-heeled individuals. The fact carries enough hints of frustration for the students belonging to the poor and middle-class families. However, for them student loan is an option to embark on the educational journey. But with increasing demand for student loans, the lenders are facing a grave problem and that is student loans in default.

There is a hell and heaven difference between the loan delinquency and loan default. A very few of us are well aware of this fact. The delinquency occurs in the event of failure in payment for one or two months. The lenders send notice mentioning that the borrowers have not cleared their regular installments according to the promissory note. It is high time for the loan takers to response to the notice and inform the lenders about the convincing reasons for payment failure. If neglected, the borrowers may experience the student loans in default in near future.

The defaulted loan creates problems for both the lenders and borrowers. The lenders have to bear expenses to get back the dues. But it is always the defaulters who undergo the gravest problems in the event of student loans in default. Their credit score dips, thereby preventing most of the lending institutions from offering financial help to them. The best way to tame the problems is to hold counsel with the lenders in order to find out the feasible solutions. In most of the cases, the defaulters resort to loan consolidation. But this option is available for only those sagging under the burden of multiple loans. Loan deferment is another medication to cure the student loans in default. However, which one is to take depends on the financial strength and objectives of an individual.

Read More

Quite Smoking And Become Accustomed To Making Saving Tips For Teen

Adolescents need to understand the purpose of saving for future successive dream. The teenage years is most vital for saving. At this age you get tension free life to take this opportunity to focus on saving for a beautiful body in a short period of time to achieve objectives such as luxury cars, foreign travel, etc. There are several ways tips on how to save money to achieve specific objectives .

1. First thing to analyze how much you could save on a regular, monthly basis of the costs to achieve the specific objective

2.In line with its objective will have to open a budget taking into account to deposit money without removing a single currency from this specific account and must comply with its objective

3. Be prepared to control wasteful spending, and consumption of snuff, drugs, chewing snuff, etc. and keep the focus on the specific objective of achieving

4.Try to get used to saving regularly and avoid unnecessary purchases and wasteful spending. keep the money set separately for purposes only expenses

5.try to save the additional income, such as part time income and pocket money given by parents, etc.

Read More

Car Insurance Myth : Do You Know Them?

A lot of myths or fallacies are associated with car insurance. Most of the people don’t have any knowledge about them which compelled them to take a wrong route while buying car insurance. 

Go through the following to know and free from your confusion about them,Car Insurance is unnecessary Still you don’t have any car or motor vehicle accident means you are profoundly fortunate. 

But it doesn’t guarantee that, unfortunately, you don’t face such a mishap and you don’t have to cover yourself. It can happen anytime. Covering the possible future losses is the purpose of a car insurance policy. It gives you a lot of space to feel secure. In various countries buying some form 

of car insurance cover, if you own or drive a car, is mandatory.

Take liability and cover the damage of others, done by you, some form of third party insurance is compulsory. Color of the vehicle don’t have any affect on the premium Many, so-called, insurance experts deny the affects of vehicles color on the premiums of car insurance. For some insurance companies it may be true. But most of the good companies take color of the vehicle in count while quantifying the risk. For instance, red cars get more tickets and traffic violations, blue and darker cars are more likely to get accidents especially in dawn and dusk and white cars, as easier to re-spray, have a higher chance of being stolen. All of these affect the premiums of car insurance.

Drivers Insurance Cover The Cars

A Driver’s insurance policy never ever covers the car he is driving. If you fall an accident and make damage to your car, your policy will only cover your physical damages not the damages of your car. If your friend or any one except you makes any damage to the car, his or her car insurance will not cover your car. For ‘Nominated Driver’ or for ‘Multiple Drivers’ are the policies most of the companies offer. If you are the nominated driver in your policy and your friend make damage to the car, your claim will surely be rejected. However, multiple drivers’ policy will only cover your spouse. Apart from you two, any one makes any damage your claim will be rejected and your no-claim bonus, if there is one, will also not be paid.

Credit Rating Doesn’t Affect Insurance Premiums

You may think how your credit rating could influence your chances of crashing your car or having it stolen. It surely doesn’t still it will affect your policy. It may speak for the possibility of you missing payments, cancelling your policy or even committing insurance fraud. Bad credit also indicates that you may declare bankrupt at any time. Nevertheless, financial reasons, though not motor risk related reasons, may also affect insurance quotes.

Insurance Premiums Are Set By Government

It is a myth without a slight touch of truth; insurance premiums are set by government. The government regulates the industry and assigns and ombudsman to handle disputes between policy holders and insurance companies. Insurance premiums are influenced by make, model, value of your car and other factors like your claims history and credit score.

Read More

Dinar Investment – A Swift Money-Making Alternative

With the progress of time, plenty of investment options have been introduced so that investors can make good money in quick time. After the initiation of Iraqi dinars in the global financial markets, investors are doing good business with Iraqi dinar investment and therefore considering it a lucrative money-making option. In today’s world, all sorts of business transactions and dealings are done via online. You don’t need to run aimlessly to and fro to catch hold of an Iraqi dinar. Several websites can help you hire a dinar dealer and you can smoothly conduct your business online. However, one going for Iraqi dinar investment should be aware of all the aspects of online dealings.

Prior to choosing an Iraqi dinar dealer online, one should be extremely cautious. There are plenty of fake dealers who might try to dupe you by offering attractive schemes. So, here a few points that can help you identify a trustworthy Iraqi dinar investment dealer:

Since the currency belongs to Iraq, every investor must first confirm the economic and political conditions of the nation and accordingly decide to go for the option.

Keeping track of the Iraqi dinar market is a must. One must be aware of the fluctuations in the currency exchange market.

Browse the Internet and get information on the present interest rates for exchanging Iraqi dinars. If you wish, you can talk to currency dealing experts.

Plenty of new dinars have been introduced and therefore it’s vital to know all their security features. This can help you realize whether the dealer with which you are working is honest or not.

Make sure that your Iraqi dinar investment dealer is registered with Better Business Bureau and US Treasury Department. You can also ask them to show documentary proofs. Remember, it’s better if your dealer both buys and sells dinar notes.

Read More

What To Consider Before Taking Out A Mortgage Loan ?

Taking out a mortgage loan is a big financial responsibility and a small mistake can cost you dearly in the long run. As most people are unable to finance their homes on their own, they take resort to the mortgage companies that assist the prospective homeowners to realize their dream of buying a home. Legal mortgage cases are very common within the mortgage industry and such cases can be filed by the borrower against the lender or vice versa. Here are some points to be taken into consideration before getting a mortgage loan.

• Your affordability: Taking out a mortgage loan without considering your affordability is perhaps the biggest financial mistake that you may commit. A mortgage loan that is beyond your budget and financial affordability can have an adverse impact on your financial life in the long run. You may find it difficult to make the monthly payments and this can have an adverse impact on your credit score.

• Your monthly income: Analyze whether or not your monthly income is sufficient enough to support the mortgage payments. If you can make the payments on time after meeting all your other debt obligations, you can easily think of taking out a mortgage loan. But if the income is not sufficient, think of boosting your income before taking out the mortgage loan.

• The interest rates: You must also check the present interest rates on the mortgages before taking the plunge. Make sure you don’t succumb to higher rates as this can easily get you trapped in legal mortgage cases that may get you into further financial trouble. Choosing the loan with low interest rates can ease off the burden from the monthly payments.

• Shop around: Rate shopping is a must before selecting a particular loan. You must make sure that you compare the rates of different mortgage loans and choose the best that suits your personal financial affordability.
  

Avoiding legal mortgage cases can be made easier by following the above mentioned points. While taking out the mortgage loan, fill out the form carefully so that there arises no further discrepancies.

Read More

Tips And Advice On How Even When Times Are Difficult To Save The Budget And Beer

The price of today's world all continue to rise, food and even Beer also increased. Beer companies reporting losses of millions of dollars regular basis. As the price of beer increased rapidly, drinkers to obtain alternative care and search under the appropriate budget. Stagnant incomes and keep rising prices of products used daily hammer pocket. With ordinary people some tips and tricks that you can begin to grow, even when times are tough.

1. Try to make the saving habit : Try to think before you spend a single dollar if needed may vary or dispense with it. This habit will help you save your money and avoid unnecessary costs. The savings can make a difference in dealing with the unexpected, and achieving long-term goals.

2. Make a goal to reach and save result : To achieve something in one's life, always keep your goal in your mind and increase accordingly. Calculate your price target and thus prepare their budgets to avoid uncertainty. Every day to achieve his dream and analyze how much you need to make it happen .disposal costs while increasing their value can save money.

3. Setting spending priorities : The level of life we all seek to include any purchases that do not fall into the categories of food, clothing and housing. choose wisely before you spend your discretionary funds.If impulse purchase, you may end up spending more than if you take the time to be selective.Try to recognize the things you want to implement that are superficial and will help you spend less .

Read More

Student Loan Consolidation – Is It The Best Way To Wipe Off Your Student Loan Debts?

Most students in the US are not being able to deal with their rising educational costs as their jobs are not providing them with enough cash flow. The US is donning a double-digit unemployment rate and this is provoking them to take resort to the various student loans that are available in the US market. However, taking out too many student loans may lead you into grave financial situation. Though there are consolidation options that may make your debt more manageable, you must try your best not to miss your payments and maintain a good credit score. Here are some specific benefits of consolidating your student loans and living a debt free life.

• Single monthly outgoing payment : As you had taken out too many student loans, chances are high that you must be overburdened with the monthly payments on each loan. But of you consolidate them you will be able to make a single monthly payment towards the debt consolidation loan. You may easily relieve yourself of the hassles of writing multiple checks to multiple lenders and lead a tension free life.

• Lower rates : The reason behind the high number of student loan defaults is usually outrageously high interest rates. With a consolidation loan, you can let go of sky-high interest rates and make sure you obtain lower rates. With low and revised interest rates, the monthly payments will also become affordable and you can make the payments on time in spite of paying off your other financial obligations.

• Extended repayment term : Student loans usually carry a long repayment term but as there is a scarcity of jobs in the US market, most students are finding it difficult to manage their multiple loans within that stipulated time period. Thus, with a debt consolidation loan, you can easily extend the term and lower the monthly payments. Every month, you may have some money to keep aside for other purposes.

• Boost your credit score : It is crucial for the students to maintain a good credit score as the employers usually check it before hiring you. By consolidating your debts and becoming current on your monthly payments, you can easily maintain a good score and stay creditworthy for the near future.
  

Therefore, now you need not worry if you’ve taken out too many student loans, as you can combine them and lead a debt free life. Make sure you get a consolidation loan from an authentic company to avoid further discrepancies.

Read More

Smart Money Investing: 5 smart way to plan for happy retirement

Before deciding to invest money, one must put aside their daily and monthly expenditure. Once necessary expenses are taken care of, one has to decide what the best way and place for them to invest their hard earned money. Only a percentage of The monthly income should go investments. Simply words, the amount spent on long-term investment or short should not affect your daily life or liquidity.

There are 5 ways to invest more effectively and grow your money hard

1. Saving money in the bank: Savings Bank is not the best way to invest, but can provide security and flexibility.I guess that deposited $ 500 per month, keep doubling your balance every month including interest each time you deposit amount.so coming maintain deposit a certain amount on a monthly basis for a lump sum after a certain year or at the time of retirement

2. Bonds: Bonds is also a type of investment that banks and some private companies provide to customers to increase funding is to run trouble-free operation. one can get a higher interest rate compared to savings accounts. Your risk is completely Free or low risk investment As you know before investing the sum of the amount you get after a specified period

3. certificate of deposit: Banks also offer certificate of deposit deposit. Certificate almost similar to bonds.Here you can get a lower interest rate compared to bonds, but higher than savings account.According to the risk factors that have low risk compared to investing in bonds

4 . Insurance: There are many reasons for putting hard-earned money on insurance.someone put there hard earned money to deal with uncertainty in life and someone put as a means of investment.Today most insurance companies offer high return at maturity, as well as life cover guaranteed .so insurance is also a good platform to grow your money, but try to keep attention on the maximum life coverage instead of returning after maturity.

5. Stock market : stock market is an avenue of making quick money with the participation of high risk.You can buy shares of any business as an investment in that company.Returns depends on the performance of stocks in the market.

suppose purchase of 100 units of a deposit of $ 100 each i.e its total investment is $ 10000.After some time if the stock price reaches $ 120 which means that their stand worth the investment return of $ 12,000 or 20% of your investment, 

So for best performance should invest for the long horizon.

Read More

3 Qualities you need to be a good real estate agent

The job that a real estate agent has to do is to help people and provide necessary guidance when it comes to buying or selling property. There are other functions too such as help with mortgage loans, etc. If you wish to become a good real estate agent, then you have to follow a few tips that will make you a good real estate guide or agent.

Some tips in order to ensure your success as a real estate agent are as follows.

1. Having a planning attitude: It is essential for you to plan well if you want to succeed in the real estate market. This is the same as having a business plan to achieve success in a business venture. Good planning is essential as it helps you know where you are going and how you must get there. A good agent must incorporate his or her goal into the plan while planning. You must decide what you wish to achieve and what services you will be able to provide to your clients.
   
2. Promoting yourself properly: It is essential to market yourself as much as is feasible for you. Ensure that your family and friends know that you are an agent and they spread the word around. This will help you in not only increasing your client list but also in getting new business. Promoting yourself is very important as in this market exposure is necessary for people to know that you are a real estate agent who provides good service. Good promotion could be the difference between a successful real estate agent and one who is not successful.
3. Trying new ideas always: It is important to be innovative when you are a real estate agent. You should be good with applying new ideas and trying out unconventional things in order to be successful. You should be well versed with the knowledge of good resources and upcoming tools that are available. The zeal to learn and to experiment should be within you. The willingness to take risks is also a quality that a good real estate agent should posses. Although any new idea has chances of backfiring but the chances of the idea working out can not be ruled out completely.

If you are endowed with these qualities and can be a people’s person, then your success as a real estate agent is certain.

Read More

Don’t Worry About Your Student Loan Default

Complete orientation of the students towards their career and the increasing market competition has compelled them to obtain adequate finances to get admitted to the best courses of the best institutions. This is because the learners from well-known institutes have been found to be getting more preference than the ones passing through ordinary educational source. To get admitted to a prestigious institution, an interested candidate must have required finance. In order to afford the course fee and other miscellaneous costs of the institution, the learners have to obtain student loan. They have to ensure that as soon as they complete their course and start their job, they would begin to pay the installments.

The students are unemployed and sometimes don’t get a good job to repay the student loan. This, in turn, makes them a defaulter. Being a student is an initial stage of one’s life and hence if anyone’s credit history gets stained at this stage, nothing can be as worse as this. In later stages of life, the students might want loans for buying materialistic items. A stained credit record can never enable them to do that. Therefore, to resolve the problems related to student loan default, several ways have been found out. One of these methods is student loan consolidation.

With the help of student loan consolidation program, an individual gets an opportunity to concentrate his debts to a central source and repay the other ones taking finance from the same. This consolidation of the amount makes it quite easier for the students to remove stains from their credit records and start a new and clean lifestyle. Apart from this, an individual can contact his lender and discuss his problems. This will help him come to such a settlement point that would be relevant for both the parties. In this case, however, either the amount would be reduced or the time of repayment would be increased.

Read More

Online Banking : Merits and Demerits

Internet has become a substantial part of our lives, so there is nothing surprising in the fact that almost all reputable financial institutions offering Internet banking services to its variety holders. The more difficult is to the right choice to choose with.Users bank online banking for its ease and comfort. And while issues of identity theft are important factors to consider online banking has not stopped people from using the Web to simplify their finance.

The banking industry faces the challenge of designing a system that is user-friendly and secure. Take all available precautions to ensure their transactions are secure.

Merits of online banking 

1. Online banking never sleep. you can access you account 24hrs in all 365 days

2. You can use your account from anywhere whether you are in home place or out of country.

you can instantly checked your account by simply login the system

3.Online banking provide you facility to transact quickly compare to ATM

4.Online banking provide facility to pay your bill instantly such as tax payment due,electricity bill,mobile bill and even you can avail securities transaction in a minutes

Now a days, most of the bank provide special facility to there customers to avail alert facility to check the transaction,alert rates,stock quotes etc

Demerits of online banking

1.To avail the online banking facility without hassle free you must need to learned the system properly otherwise it create problem to make transaction clearly

2.you need to keep memorize your login password and make sure not to share anyone.

3.keep changing your password in regular or certain interval to avoid the hacking by others

Read More

It Is Not Hard to Secure Hard Money Loan

The young capitalists who are setting their hearts on making a tidy sum in the real estate dealing must not expect gigantic return within a shorter time frame. Having enough patience and prudence is the mantra to have gigantic profit but such a return can be relished only in the long run. Real estate property dealing requires huge investment and most of the time the potential investors can not afford to siphon off that figure. Financial assistance is a must in such a scenario but their projects do not match with the stringent loan lending procedures of the banking institutions. So, emerges the important role of the hard money lenders.

The real estate projects often require immediate money supply. Even the slightest delay may inflict ruinous effects on the entire dealing. But unfortunately the official red tapes of the conventional lending institutes spring up as the obstacles on the way of faster loan processing. So, the dealers approach the hard money lenders to secure loans. The borrowers not only acquire loans within a short span but also get an astronomical amount.

Unlike the traditional lenders, hard money lenders take little consideration of your impressive credit score. That is why it is very much possible for the poor credit record holders to successfully crack a deal. No need to submit the documents regarding tax return or credit history and therefore loan processing is done much faster. As no meticulous checking is involved in the entire loan processing episode, the hard money lenders are surely taking significantly higher risk but they are rewarded with excessive profit in return. One intimidating fact for the novices is that considerably higher margin of interest is attested to such loans, but the outstanding profit of the real estate dealers are enough to cover the added costs.

It is not a wise idea to go with equity release to procure the desired amount for the investment into a real estate project. Moreover, the young entrepreneurs do not qualify for a release equity policy as it is exclusively reserved for the retired individuals.

Read More