The amount of nonmortgage consumer debt has dropped from $2.54 trillion to $2.45 trillion over the last year. Is appears that with the downturn in the economy people are looking to pay down their debt instead of purchasing their next big screen TV. The largest part of the decline is in Credit Card debt. That has dropped from $935 billion to $853 billion and has declined for 18 straight months.
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Introduction to Financial Planning
Everyone has a unique financial situation. At (insert name) our plans are geared to address your concerns and financial wants. One Financial Plan does not fit all. We take pride in having open and candid dialogue with our clients to help them achieve all their financial goals.
It is difficult for anyone to make financial decisions unless they take the time to evaluate their current situation. Sitting with us for a Financial Review will give you a good understanding of all the details in every aspect of your personal and business situation. We can review what you are doing right and look at points the might be reasons for concern.
Not everybody's situation demands a comprehensive Financial Plan. It is possible that your current situation does not dictate this approach. It is possible that a Financial Plan might be an excellent decision for you other circumstances can hold you up from entering this process as this time. Our goal is put in place focused financial strategies to solve your specific concerns.
Home mortgage solutions have powered the growth of financial sector in the last quarter. A home mortgage solution will aim at providing apt liquidity to a debtor so that he or she can manage their financial commitments on time. Most of home mortgage solutions can be availed through leading financial and banking service providers on the go. They can easily provide competitive landscape of home mortgage solutions in no time. These days, online channels have also emerged as most sought for ways for availing home mortgage solutions in no time.
Based on simple inputs, home mortgage quotations can be generated online in just about no time at all. Home mortgage solutions can be availed through third party agents too. However, one should always keep in mind that these are obtained from reliable mortgage agencies. Expert services providers can enable home mortgage solutions in no time. They have the necessary expertise and experience in providing best solutions to their clientele as per their custom needs. Secured home mortgage solutions can be quite trickier indeed. Therefore, in order to avoid impact from risk factors and fears of foreclosure, debtors must act smartly.
Well chalked out home mortgage solution can easily power through financial portfolios of one and all. Home mortgage solutions are pretty popular amongst prospective debtors. Financial advisors can offer better longer term horizon solutions to one and all who are seeking to gain from home mortgage solutions. Based on ones risk profile and financial goals, they can assist prospective borrowers in understanding pros and cons of a home mortgage solution.
A home mortgage solution should not act as a burden to a debtor. In fact a seamless home mortgage solution should ideally provide ample liquidity to a debtor so that they can easily manage their daily expenses along with EMIís for mortgage arrangements in a seamless manner. Home mortgage solutions can be availed on the go across various channels. However, onus of selecting the perfect home mortgage solution lies largely over the debtors. Get going and make smarter investments through home mortgage financing solutions in just about no time at all.
The Carrot, what does that mean? Well I got a call from a good friend of mine who is currently looking to buy a house. The interest rate they gave him was 4.65% with a 1/2 a point. That is a good rate but then they said "Hey, we could give you an 7/1 ARM with a rate of 3.75%". Wow, that is a full point lower. Who wouldn't want that? That bank they are really nice. But are they?
Now that you have that "Carrot" in front of you why not take the savings. Well in my opinion the only way you should take that is if you plan on selling your house within 7 years or you can use that saved money in a much more lucrative investment. Maybe your income is low at this time but you are betting that it will increase a good portion over the next few years. The rates are so low today one would believe as the economy recovers over the next year or so the rates will only increase. When it comes time to refinance after seven years or take their new adjusted rate you are most likely going to erase the savings from such a low rate today.
The bank did not volunteer what the new rate would be; prime +2, prime +5. He had to ask them. It is the old adage that if it is to good to be true then it is. Needless to say my friend made what I feel to be the correct decision and took the 4.65%.
It is a tough thing to balance being the CFO of a company, a Financial Planner and have a Family. I don't mean the time constraints because that isn't it. It is how to balance your mental state of mind because frankly all three have different mind sets. As CFO my role is to be the captain of a company and guide it through the tough financial waters of today's financial climate. As a Financial Planner your role is to be the first mate and help the captain sail those waters. As a family man you are both but yet I need to be skeptical of a CFO or a Financial Planner.
Do they both have my best interest in mind. Being all three I have to ask myself as a family man would I respect what my CFO self or Financial Planner self recommends? There are a lot of unscrupulous CFO's and Financial Planners out there looking to pad their bottom line. Thankfully I have that Family man inside of me to ground all three and do the right thing. There is no better feeling then knowing you helped a family out and put them on the right track. The same track I would want my family on.
And I don't mean where you live I mean your Financial House. As I just recently had another birthday I took some time to make sure my affairs were in order. Nobody ever wants to think about what happens if something happens to you but you have to. People have a hard enough time sitting down and preparing for retirement let alone their overall Financial House. So besides my retirement accounts, my investments and my savings I took some time to make sure I had enough life insurance and a will in place. As I reminisce on how quickly time passes as every birthday comes and goes I knew I had to make sure everything is in place so that little CEO of mine will always be protected. Just throwing this out at you to hopefully get you to take a look at your own house