financial-risk-management

Financial Risk Management

Writen by Jason Gluckman

The term “risk” describes the probability of an undesirable event happening as a result of a present decision or of some future event. In life, we face multitudes of these risks. There are risks that we would readily take while there are also those that we would try to avoid. There are risks that we consider worth taking and those that we would not consider because they are surely headed for a loss.

The worlds of business and finance are not much different from our lives when it comes to risk-taking. In any business venture, owners or shareholders are bound to face risks. Like the risks we face in everyday life, some of these business risks can be easily handled and some cannot, and the process of deciding which is which belongs to the practice of risk management.

Risk management refers to the entire process of identifying, analyzing, evaluating, and treating risks. But since businesses are faced with many different types of risks, risk management specializations have also been created to deal with them. One specialization of risk management is enterprise risk management, which deals with non-financial risks.

And then there’s financial risk management, which is very similar to general risk management with a specialization in a business’s finances. Like general risk management, financial risk management also follows the processes of risk identification, analysis, evaluation, and treatment. Financial risk management, however, is more focused on finances and makes use of financial instruments to manage a business’s exposure to risks.

Instead of leaving businessmen with a variety of choices for risk treatment, financial risk marketing is focused primarily on hedging, which is the use of two counter-balancing investment strategies to offset the negative effects of price fluctuations. Aside from these differences, everything else is essentially the same.

Risks are inherent in any business venture, and when it comes to financial risks, businessmen don’t have much choice but to face them. It is for this reason that knowledge about financial risk management is very important in the business world. The practice won’t help businessmen avoid risks, but it gives them a chance to counterbalance the negative effects of risks whenever they have to take one.

money-only-two-sources-for-obtaining-your-share

Money (Only Two Sources For Obtaining Your Share)

Writen by Harry McDuffee

Money is something that everyone needs to pay their bills. Gone are the days when we could get by without money. Everything revolves around how much money you have as to what you can have. What kind of lifestyle are you living? How many cars are in your driveway? Are the cars in your driveway less than 2 years old and is at least one a top of the line BMW, etc. They used to say, ‘Money is not everything’. Now You Can Not Even Buy Love Without It!?

The more dependent we become on the Almighty Dollar it seems it becomes that much harder to get a hold of. Everyone these days is trying to figure out how to make more and have more. It just seems enough just is not enough. It seems justifiable to max out our credit in order to live a better lifestyle. We all want to live in better neighborhoods so our kids can attend better schools. But sooner or later the bills start catching up and we do not know what we can do. We Need To Learn About Money - Most Important Thing To Learn Is the True Sources of Money - There Are Only 2!

To obtain money the first source we need is time. There is no such thing as a Money tree. Money does not grow on trees, it is not hiding in the bushes, and there is no such thing as ‘get rich quick’. If you and I are going to get our share of money then we are going to have to look to the source of time. Time Invested Will Bring Us Our Share of the Money That Is Ours To Claim!

One aspect of time is building our business using other people’s money. We may need to establish a line of credit in the beginning to build our business. This is something we need to be very careful with but can be a great way to get the business going and established. Many people have started their business this way. I have a quote for you, “It Is Hard to For Get a Woman When You Buy Her a Gift on Time!” Credit (Time) Can Buy You the Time You Need to Get Your Business Established!

All of us need to realize that there is no such thing as getting rich overnight. But we can become very rich Over-Time. It takes time and patience to build anything whether it is physical, mental, or spiritual. Another quote for you, “Rome Was Not Built in a Day!” Everything Takes Time!

When it comes to building a building first you must level the ground, build the foundation, etc. Literally you must start the building from the ground up. Have you ever seen a building built any other way? By the time the building is built a certain period of time has elapsed. It Takes Time to Build A Building or Anything Else!

In order to build your Home-Based Business you must put in a reasonable amount of time and start from the ground up. You must learn your business. What does it take to build this business? What is your investment? Are there going to be business models or those that can teach you what they did to build their business? You Need A Blue-Print of the Step-By-Step Procedure!

Here is another quote for you, “Time Is on Your Side and Time Is All You Have.” I do not know about you but I have more money than I have time is true. Time can be our friend or it can be our worst nightmare. Time is definitely 1 source for obtaining Money!

Invest a reasonable amount of time into your business to allow it to germinate. A Network Marketing Business as an example needs a good 3 to 5 years. If you have the proper marketing tools to build (market) your business then 3 to 5 years can build you a very lucrative Network of people. Now this Brings Me to the Second Source for Obtaining Your Share of Money!

The second source and final source to obtain money is People! People needing people is a very important concept. There was a song some years a go about ‘people who need people are the luckiest people in the world.’ Everyone Needs to Be Needed and No One Who Is Anyone Has Ever Done It Without People!

The rich people got that way because of other people in their lives. There are greedy rich people that made theirs off the backs (so to speak) of people. But those rich snobs do not have a clue. Those who get rich in spite of other people or off the backs of people are the unhappy rich snobs that are really poor, poor in spirit. They Have No Conscience!

Now let us look at the concept of people needing people as a source of obtaining money the right way. We all have services, products, something to sell. Who are we going to sell our product, service, etc. to? Another idea is we are also buyers and who are the people we are going to buy our goods from? We are all people who are needing other people are we not? People Are Our Only Source From Which We All Must Turn!

One of the biggest fears people have in building a Network Marketing Business is talking to other people about their business. Why is that? Who else is there to market our business to but other people? Someone must be on the receiving end if someone is going to give an opportunity. There is the sharer and the share-e. Some Will, Some Want, So What, Next!

There are people out there that are looking for what you have they just do not know it yet. Until you strike up a conversation with them you will not know who they are. We all talk to other people everyday of our lives we just need to learn to bring our business into the conversation naturally. Make friends of people and they are more apted to listen. Build Relationships Based On Trust!

There are only 2 sources for obtaining money, Time and People. Given a little or much time and factor people into the equation and you can have all the money you will ever need to have the lifestyle you want to have. Do not let your time or people be taken away and you will never have a problem of lack of money. Obtain Your Share of the Money from the Only 2 Sources from Which She Comes!!

Copyright 2006 HM

All Rights Reserved

assumed-vs-subject-to-finance

Assumed vs. Subject to Finance

Writen by Martin Lukac

There is a difference between an existing note secured by deed of trust and being assumed, and a sale subject to a note and deed of trust.

When a buyer assumes an existing loan, he signs and Assumption agreement with the lender. In this agreement, the buyer agrees to assume the responsibility for paying the remaining balance of payments, and to comply with all the other terms and conditions of the loan. The lender may can choose to:

1. Release the previous trustor from all responsible you to pay

2. Retained a former pay are responsible, so that he must make payments if the new trustor fails to pay

3. Activate the acceleration clause in the deed of trust, by either demanding payment in full or by changing the interest rate.

If the sale is designed subject to, the buyer friendly signs any sort of agreement with the lender committing himself responsible or liable to make payments of to perform any other obligations. After escrow closes, based on the knowledge that the lender will have no objection to this arrangement so long as payments and other obligations are met regularly and they don’t loss to the lender. If the buyer fails to perform in meeting the obligations under the loan, the lender will probably simply filed a notice of default and cause the trustee under the deed of trust us to a foreclosure action.

When a buyer takes a loan under a subject to arrangement, the seller is not legally released from a responsibility. The main difference is that a lender cannot activate an acceleration agreement under the subject to arrangement - a very important consideration for a buyer.

process-of-globalization-in-serbia-and-montenegro

Process of Globalization in Serbia and Montenegro

Writen by Dr Mirjana Radovic

During the 2003,socio-economic trends in Republic of Serbia and Montenegro were characterized by active role of Goverment to implement reforms,neccessary to step up transition process. According to the report of the European Bank for Reconstruction and Development (EBRD),Serbia and Montenegro recorded greater progress in implementation of reforms than the other 27 East European countries.In its report on transition,EBRD graded Serbia and Montenegro 3+ (scale 1-4)for its foreign trade policy,for the process of privatization of small enterprises and for price liberalization.

The current state of global economy,especialy EU is that a stronger growth rate in global economy could not be expected till the end 2004. According to the Republic development Bureau,economic trends in Serbia in the first four months of 2003,are characterized by a slowdown in economic activity,however together with stabilization of price real increase in salaries and growth in foreign trade.Exports of goods in period January-April 2003 increased by 28,6% in relation to the same period of 2002.The coverage of imports with exports in April 2003 is 41,9%.

Prices in May 2003 increased by 0,5% in relation on to April and costs of living by 0,4%. The total number of employed persons at the end of March 2003 amounted to 1,782.841 (source:Republican Labour Market Bureau).Using the same source we can notice that in Serbia were 947,426 unemployed persons.Mentioned number was increased by 17,7% in 2003 in relation to 2002.

In 2003,336 enterprises were privatized at tenders and auctions,which pulled in EUR 159,5 milion( source:republic Development Bureau).According the same source,the process of restructuring was started in 73 large economic systems.Also,the Serbian goverment adopted the Strategy for development of Entrepreneurship in Serbia from 2003-2008.

The analysis of economic development in Serbia shows that the most developed city in serbia is Apatin with the level of development 85% above average in Serbia and on the other side,the most undeveloped city is Tutin with the development 76% below the average of Serbia.

Finally,we can conclude that Serbia and Montenegro will try to be integrated into the global economy as soon as possible.In spite of our good wishes,it seems that our expectations are very unrealistic to be achieved fastly. Namely,after a long period of stagnation,wars,low economic rate of growth,high rate of inflation (in 1993.it was the highest rate in the World),high rate of unemployment and low national income per capita,path of integration will be long and difficult process.Knowing that,our goverment will try to make this process shorther with structural changes in national economy and making big steps in transition toward the structure and performance of advanced economies.As fast as our standard of living rise it becomes possible to make progress.The first results have been yet evident.

prof.dr Mirjana Radovic

understanding-financial-statements

Understanding Financial Statements

Writen by Matt Bacak

The value of the accurate financial statements generated is undisputed. This is as financial statements are like windows into the health of a company. Just by viewing financial statements, adept business owners will be able to determine the strengths and weaknesses at the time that the statement was generated. With this, the owner can then chart the way into the future for the company, by addressing the weaknesses and capitalizing on the strengths that the company has.

The two main financial statements within any company are the balance sheet and the Profit and Loss statements. The balance sheet provides anyone with a snapshot of the assets and liabilities within a company at any one point in time. This essentially means that the balance sheet shows what the company has and how much they own others. Apart from that, the equation asset = liabilities + capital always holds true within a balance sheet. The liabilities and capital sections indicate the sources of funds for the company while the assets indicate how the company uses the funds that it has. Most importantly, the liability and capital sections indicate money owed to creditors as well as invested amount. If you look closely, you will realize that both of these are obligations of the company that need to be paid.

By analyzing financial ratios that are generated by numbers on a balance sheet, a business owner is able to tell how well the company collects their accounts receivables, how fast the inventory is moving out and replenished, as well as how much exposure the company has towards debt.

The typical company balance sheet will consist of fixed assets and current assets such cash, account receivables, inventory and note receivables. Current assets comprise of assets that can be liquidated fairly quickly and easily in order to be turned into cash. On the other hand, fixed assets are amortized over an extended period of time and are not so easily sold to recover cash.

On the liability section, fixed liabilities include long-term debt of usually more than 12 months of age or contingent liabilities. The current liabilities however are represented by mainly accounts payable and notes payable as well as short term loans. If there is inadequate cash within the company, current liabilities have the ability to drag the company down.

The final element of the balance sheet, the Equity is the amount of capital financing that has been injected into the company. With this, the owner’s investment into the business is shown in the balance sheet.

The Profit and Loss statement is used to determine if a company is making a profit or a loss within a specified operations period. The revenue obtained in a period is stated in this statement, and all direct and indirect costs incurred are deducted from the revenue. With this, the profit for that period is obtained, where profits are compared with the previous year’s performance level. Profits with which taxation has not yet been accounted for are known as gross debt, while net profits are debt in which all costs have been deducted from.

In conclusion, being able to read financial statements is an advantage for any business owner. Interpreting financial statements are ever important in business, as it allows for the owner to take action before things become worse. By reading financial ratios, a business owner will know what needs to be done before the situation of the company changes. Alternatively, reading financial ratios will also help the business owner plan for the future, by incorporating the leverage on existing strengths of the company.

an-introduction-to-grants

An Introduction To Grants

Writen by Alison Cole

The Federal government gives out billions of dollars every year in grants. There are many types of grants available to American citizens, and there are ways to find out what grants are applicable to your needs. Not only are there grants available from the Federal government, there are countless other grants available from private companies and foundations. It is estimated that there is over $400 billion in funding available through grants in the United States.

The qualifications for these grants vary in different states, and according to the grants, restrictions apply. The common restriction for all Federal grants is that the applicant must be an American citizen. When it comes to student aid, and housing grants, they are usually awarded on a “need” basis. College students who can’t pay for their college education have the opportunity to apply for these grants. The Pell Grant is an example of a federally funded grant that pays for the schooling of who cannot afford it.

Another form of grant is a housing grant. This grant will pay for housing for those who cannot afford to pay for it themselves. The Federal government has set up the Supportive Housing Program to help get homeless families off the streets and into permanent housing. These grants provide job training for those in need, as well as help them obtain a greater sense of self determination to give them an opportunity to get off the streets and make their lives better.

If you are in dire need of money, you need to know that the Federal government has programs that are willing to help you regardless of your situation. Go to your nearest state or community services office, or go online to federal and government grants and programs. You may find the help you need.

cash-from-another-source

Cash From Another Source

Writen by Clive Green

Many professionals earn an income that is only sufficient for their living. They work hard in order to have money to finance their daily activities. From this income they take the payments for their bills, personal expenses, foods, transportation, hobbies, as well as their savings and investments. They need income in order to survive. But their income is only sufficient for daily living. What if they need money to finance their unexpected losses or expenses? Where do they get this money in order to pay all of these bills?

Other people would borrow money from their friends or colleagues and pay it with interest in order for them to pay for these unexpected payments. Others would take money from their savings; some would pawn their jewelry and some do worse than that: they steal money from other people. But there are ways to obtain money for these kinds of contingencies that are not costly as these other ways. Some of it can be attained from a loan in an insurance policy if the policy has its existing cash values. The other source of money for contingencies is what we call cash from structured settlements. This can help you sell your structured settlements and convert it into cash in the times of uncertainties.

In this unpredictable time, we should prepare for the unknown. We should set aside money that will be available in times of contingency. We should put up a contingency fund in our investment portfolio. This will serve as our other source of fund in times that we need money. These funds should be separated from our savings and investments. Most people do this. They save money, but when the time comes that they feel they need it, they withdraw it from their investments. The greatest enemy that we are facing in this kind of approach is ourself. Eventually we’ll end up saving nothing at all.

In handling funds, we should be systematic about it. If we want to be prepared in the face of uncertainty, we should have a separate account intended only for contingencies so that it will not mixed with our savings. In this case, we can control our withdrawals and eventually we can save for the future.

Check out some tips to have available cash from structured settlements from this site: http://www.cashstructuredsettlements.com.

how-is-your-credit-part-1

How is Your Credit? Part 1

Writen by Mike Herman

Whether you are Working at Home, a salaried Professional, are Older and Wiser, or at any stage of your life, your credit can be good, or bad.

No matter what you think it is, i.e. you pay your bills on time so you think it’s really good, you should know as much as you can about it and how it can affect you.

Seventy percent of Americans have never seen their own credit report or credit score.

Do you know that you have a credit score?

It’s usually referred to as a FICO score.

Being a Mortgage Consultant, Mortgage Broker, I’ve seen many credit reports and I am often surprised by the fact that my clients either don’t really know they have a credit score, or they don’t realize how much it can hurt them if they were inattentive to the numerous factors that make up a Credit Score.

The FICO score is a summary of your credit history. In other words, it’s a financial history of your life.

That score impacts a surprising cross-section of life, in fact it impacts many things you knew about. Such as;

Lenders use it to evaluate your eligibility for mortgages.

Landlords use it to gauge the likelihood you’ll pay the rent.

Car dealers utilize it in arrange financing for you.

Credit cards are, or aren’t, given to you because of it.

Now, for some things you may not have been aware of,

Insurance companies may base your premium on it.

Potential employers often use it to assess your character and they may base there hiring decisions on it.

The FICO score reflects hundreds of parameters in one’s financial history.

Score 700-850 - smooth loan process; best interest rates

Score 550-699 -medium risk; higher interest rates Score 300-549 -sorry, no loans or credit cards

These hundred of variables are included in the calculation of your credit score, but I only mentioned the bigger ones here.

Just paying your bills on time, as important as that is, may not rescue you from other credit pitfalls.

Bills, mortgages, your monthly rent, credit cards, long overdue or overlooked, can show up as a blotch on your credit.

A cable, or credit card bill, that didn’t make it to your new address, or you mail them your payment, but it gets lost in the mail. It may be the store, credit card company, or post offices the error,……. but it is YOUR credit that gets hurt.

The amount of unpaid credit cards, even if they’re never late. The more you owe the less credit worthy you are.

The amount of credit you already have. It’s not always the More, the Merrier.

The kinds of credit cards you have, some are good believe it or not. Visa, MC, AMEX, Discover, etc. are considered good credit; others may affect your credit negatively. Such as credit extended to you at a store, or the mall when you go out and buy appliances, etc.

Cancel and make sure you get rid of the bad credit as quickly as you can.

Unpaid medical services.

Collections. The amount may, or may not, matter.

The important thing to know is that credit scores aren’t an exact science and these are only some of the variables.

It’s often not one of these items, which spell disaster for your credit; it’s having a combination of these.

One of these things may or may not hurt too much, but having numerous problems may mean trouble for you.

It is the Credit Bureaus and the Institution extending credit to you, who decide how it affects you and your credit.

start-saving-for-retirement-now

Start Saving for Retirement Now

Writen by Martin Lukac

Retirement isn’t as far away as you may think it is. Studies into the way our brains age indicate that as we age, time actually does move faster. Or at least it does for our brains.

With every day that passes, you are getting closer faster to retirement. Are you ready?

One of the best ways to understand what it takes to be retired is to talk with those that are already there. Though we like to imagine retirement as a time to travel, garden and drink coffee at the local cafe every morning, it isn’t often a carefree time.

A study, conducted by Brightwork Partners for Putnam Investments, analyzed people who have been retired for two to six years. These retirees are old enough to have the traditional pensions, but still young enough to have 401(k)s as well.

Traditional pensions are disappearing fast, but that doesn’t give the current society of retirees an edge over the younger generations.

The average annual income for new retirees, before taxes, was $36,000. Almost 50% reported incomes of less than $25,000, while 25% reported less than $15,000 a year in annual incomes.

Over half of the retirees said that their standard of living had declined since they stopped working. Only 30% said that they were living comfortably. Twenty-one percent reported that it is a struggle to make ends meet.

Over 40% of the annual income for the retirees came from Social Security. The average income was only 11% income from savings and investments.

With traditional pensions becoming a thing of the past and Social Security uncertain for the future generations, today’s workers must start saving now.

Talk with a retiree and you will find that retirement doesn’t get easier as time passes. Over 60% of retires say that they longer they are retired, the harder it gets. Many are surprised to find that maintaining a certain level of living is quite difficult.

Those that are the most satisfied with their retirements are those with the highest incomes and assets. For example, 50% of those with an annual household income of $75,000 are “very satisfied” with retirement.

Most retirees will tell you that they wished they had saved more. Nearly 60% wish they had started saving earlier.

What can you learn?

Start saving now and save as much as you can. Don’t be left feeling that retirement could have been better or different. Once time has passed, it will be too late.

Sit down with your finances and start a plan to save for your retirement. It doesn’t matter if you can only afford $25 a month. The point is that you are putting something back. Over time, perhaps you can save more. With interest, your savings will grow. And hopefully, you will be one of those “very satisfied” retirees.

avoid-the-three-biggest-financial-pitfalls

Avoid the Three Biggest Financial Pitfalls

Writen by Terry Mitchell

For the average person and/or family, the three biggest financial pitfalls to avoid are new vehicles, credit card interest, and short-term loans. Any and all of these can drain a person’s or family’s coffers of much needed funds. At best, they create opportunity costs, i.e., money spent on them could be better spent on sound investments like a home or stocks (both of which appreciate in value over the long term) or on college or retirement savings. At worst, they can eventually create financial hardship and even lead to bankruptcy.

Buying brand new cars, trucks, SUVs, etc. can be a real money-eater. They all depreciate in value, some much faster than others, of course. Most vehicles depreciate the most in their first year or two of life, so the person buying a vehicle when it is new will have to absorb the bulk of its depreciation costs. With the price of new vehicles as they are today, that amount can be quite excessive. On top of that, many people have the financially disastrous habit of trading them in about every two to three years for another new one. That habit will result in the piling on of depreciation and debt.

Instead of buying new, I suggest buying a low-mileage vehicle that’s about one to two years old. There are services available now like CarFax which allow you to trace a vehicle’s history. If you look around, you can find previously-owned, former-rental, or former-lease vehicles of every type, make, and model which are in like-new shape and have less than 20,000 miles on them. You can even find them on Ebay now! Once you have found one, I suggest keeping it for least three years after paying off the loan. Ideally, I would suggest paying cash for it to avoid those used car interest rates and then keeping it for at least seven years, but I know paying cash is not an option for most people.

If you absolutely feel the need to give yourself or a family member the gift of a new car some day, I wouldn’t fault you for that. However, I suggest planning this out over several years, similar to how one would save for a college education for a child. Estimate the amount that you are saving by buying used cars instead of new ones and pay yourself that money by putting it in the bank on a regular basis. Over time that money will add up. Once you have saved enough, wait until a dealer that sells the kind of vehicle you want offers one of those deals in which you can get zero percent interest or a rebate. Pay cash for the vehicle and take the rebate. That way, you get the zero percent interest and the rebate!

Credit card interest is another item that will erode a person’s or family’s financial assets very quickly. The interest rates you pay are about 534,457,469 percent! Just kidding, but it does seem that way sometimes. Seriously though, they often run as high as 18 to 21 percent. A $20 meal will end up costing $36 when paid for over a five year period at an 18 percent interest rate! Paying only the minimum payment can result in an endless cycle of debt that will eventually be practically impossible to escape, outside of bankruptcy.

If you find yourself already in this situation, I suggest you see a professional credit counselor as soon as possible. If you are already paying more than the minimum payment, try to gradually increase this payment and suspend all new credit card charges, if possible, until you’ve paid off the balance. Obviously, the only sensible way to handle a credit card is to pay off all charges each month as they are accrued and not maintain a balance, thus avoiding all interest. A credit card is a nice convenience tool. However, if you don’t have one and you feel that you could not pay off the charges each month, then you are far better off not having one. If have one or more cards and have run up balances that you have had to struggle to pay off, you would be better off getting rid of it/them.

Short-term loans are also debts to be avoided like the plague. These include those “quick refunds” offered by many tax preparers, those “pay day” loans offered by predatory lenders popping up like cancers on seemingly every street corner, and many kinds of unsecured loans. The worst thing about short-term loans is their deceptiveness. Most people don’t realize what kind of wild interest rates they are paying. For example, $10 in interest paid to keep $200 for one week results in an annualized interest rate of 260 percent! Allowing a tax preparer to deduct $100 from your $1500 refund so you can get it instantly instead of waiting six weeks for the I.R.S. to send it to you will result in an annualized interest rate of 58 percent! I bet someone advertising those kinds of interest rates would have difficulty finding any takers, yet people take on these kinds of loans all the time as long as the interest rates are disguised.

People who are wise financially avoid most, if not all, of these biggest wastes of money. Most people who are financially independent right now got that way in whole or in part by avoiding wasteful spending.

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