Posted by admin | Home Banking | Posted on April 9th, 2010
Multitudes of home based businesses exist and more pop up everyday. Most people ask the wrong question when they start out. They ask, “what business should I go into?”
The better question to ask is “what do I like to do?” That’s the key element to success I find over and over in my research. Yes, successful people find the one activity they love to do, whether they receive money initially or not. The strange part is when they do what they love the money follows.
Want a fool-proof way to make sure you pick the right home based business. Don’t make the mistake thousands of people make each year who want to start a small business. Choose what you like doing first and the money will follow.
Now get a pen, a sheet of paper and write down at least 5 answers to each question below. Take your time and brainstorm at least 5 ideas.
1. What kind of business would I do if money were no object?
2. What kind of job or business would I choose if I had to do it 12 hours a day and 6 days a week?
3. What are my 5 favorite hobbies?
Next look over your list of answers and choose the top three answers to each question. Now put the list away for a day or two to give your mind time to absorb the information.
On day two sit down again, look over your list and ask yourself the three key questions again, then pick one winner for each question.
Now here’s where the fun begins. At this stage you want to look at the three answers. Can you combine your three answers into a single business? If you can that’s the business you should be in. You’ve taken a step most business people never take. Congratulations!
Now look for a company or person that can help you do that business – or start it yourself. Either way you’ll have a good chance of succeeding because it’s something you like to do.
If you choose a business just for the money, guess what? You’ll be more likely to quit from discouragement, like most people who make the mistake of choosing a business in this manner.
But if you wisely choose a business you love to do you’ll be more likely to persist. Because persistence is the key to success no matter what the business. You’ll discover the money will follow your work of passion. An additional bonus is you’ll have more motivation when the going gets tough.
Choosing a business you love will get you over the tough spots, the twist, turns and the setbacks – until the money comes.
One last tip. The quickest way to make money is to find something others don’t like or have the time to do – and offer to do it for them.
In closing if you don’t have any money now, never-ever let that stop you. The next best thing to money is knowledge and motivation. Get the motivation and the knowledge and the money will follow.
I hope you’ll consider these ideas. God Bless.
Posted by admin | Home Banking | Posted on January 23rd, 2010
With the advent of so much technology that makes life a bit more efficient and the world a bit more accessible, it is no surprise that they way you do your banking is changing as well. While you can still visit your local branch office to make a deposit or withdraw your cash, in-person transactions are becoming less common. People are taking advantage of the convenience of online banking because it is available and accessible 24 hours a day, 7 days a week. If you are not keeping up with the times, you might be missing out.
While you may be skittish about venturing into cyber-banking, understand that there definitely are advantages to it. Technology is here to stay. You don’t need a special degree to get involved, just some patience to get going.
Here are some descriptions, as well as their advantages, to handling your finances online:
Log In
You bank likely has a interactive website, highly secured, where customers can access their banking information, including account balances and transaction statement that is typically updated in real-time for many transactions. Go to your bank’s website and sign up for an account. It should not cost you a cent to use the website. You’ll need a user name and a strong password for registration as well as some other information about your financial information. Visit your bank for more information and assistance.
Open Online Accounts
There are many new savings account, only available online that offers up to 3% interest return on your account. You can transfer money from your home bank into your online account at any time. Rates will also get better for these online accounts because competition is growing fast. There are also interest-bearing checking accounts that earn higher than average interest rates than your home bank.
Keep Track of Multiple Accounts
Instead of trying to manage all your accounts on paper through a statement each month, you can easily access several accounts online whenever you want. Having multiple accounts, you have the potential to earn more money and make transactions easily online.
Earn Credit Card Rewards
Having a credit card that links through your online bank account can also afford you more rewards than you might normally be eligible to receive. You might be able to earn a cash back percentage on all of your purchases when you use the card. This can not only help you save money, it can help you earn more money than you normally would.
Banking online is secure. If not, the major banks who offer the service to their valuable customer base would have failed years ago. As a consumer, it helps to be proactive about security on your own end. Be sure you computer is protected and you store passwords safely. You should also make a point to charge your password regularly. Banking online is easy, convenient and beneficial to all people who use a bank for their cash.
Posted by admin | Home Banking | Posted on January 1st, 2010
With the current “mortgage meltdown” we hear so much about these days, your average consumer thinks that the days of 100% financing have gone by the wayside. True, you are hard pressed these days to find a bank or lender that will want to carry a second mortgage that combined with a first mortgage adds up to 100% financing. That’s because if there is a default, sitting in second lien position is particularly dicey. Too much risk is involved. And since, in recent history, that scenario of the 80/20 combo was the most common 100% financing vehicle available to a certain group of consumers (non first time homebuyers), there’s a misconception out there that 100% options are all but dried up.
But, a-ha! There is hope for someone who has great credit but prefers to invest his/her assets elsewhere when rates are so low. It’s called the Flex 100. And it can apply to purchases and refinance transactions.
I heard an analyst mention on television the other day that mortgage money is so cheap right now it’s like a sale at Macy’s. That made me chuckle, but it’s true. In which case, why not invest your money elsewhere if you qualify for 100% financing. After all, the homes are still appreciating in most areas, but not at the stellar rate we saw in the past.
The Flex 100 requires you to invest $500 of your own cash towards the transaction, so I guess it’s technically not 100% financing, but it’s pretty darn close. And no, you don’t have to be buying your first home to get this deal. You can actually have owned a home in the past three years! However, it does apply to financing your primary residence only. You can’t get this deal for that nice cabin in Gatlinburg you want to use on the weekends or for that great rental down the street you think you can get a good deal on. You’ve got to live in the house to qualify for this financing.
But you can do a refinance, as long as it’s not a “cash-out,” meaning you’re not paying off debt or taking equity out of the property. It must be a rate term refinance only. However, you can pay off that second mortgage or home equity line of credit you hate, IF you obtained that 2nd lien mortgage when you got your first mortgage (a piggy back closing, we call it). Or to make it clearer, you originally had that 80/20 combo mentioned earlier. If you got that home equity mortgage a month or two after your initial closing to build a deck or payoff a credit card, than it that won’t work for a Flex 100 refinance.
What about your credit score? Well, it will affect the price you get, but there is no “minimum” credit score required for this program. You just have to get an approval through the automated underwriting system required. But be realistic – if you’ve got “iffy” credit, you probably won’t get an approval. A borrower with a credit score below a 620 would probably have to have a low loan to value or debt to income ratio for a chance of an approval.
A Flex 100 may or may not make sense for you. But hey, at least you know it’s an option. Your lender should be able to help you determine if this opportunity to flex your mortgage muscle makes sense for you.