Wednesday, 27 November 2013

Make Money By Mutual Funds [Infographic]

Moneytips has launched a new Infographic titled ‘Make Money By Mutual Funds’ has been created with the big idea of highlighting the best ways to make money by investing into mutual funds. Mutual fund is an investment of choice for many but very few are aware of the factors and thumb rules that guide seasoned investors. This infographic is an attempt to impart knowledge about the basic know-how of investing in mutual funds.

The infographic outlines:

·         Factors for success in mutual fund investment
·         How to choose funds to invest in
·         Optimal allocation of funds for maximum returns
·         Tips for making money in mutual fund investments


Personal Finance Plan For Investing and Retiring [Infographic]

Moneytips has launched an Infographic displayed above with the big idea of  catering to one of the biggest financial goals of investment - retirement. This infographic shows the optimal investments and savings and ground rules to maintain a stable cash inflow and ensure a good lifestyle even after retiring.

The information includes:

·  Optimal long term savings for retirement
·  Short Term savings and savings for kids’ education after you retire
·  Rules of thumb for assets and proper asset allocation to get maximum utility out of investments
·  Average time taken for investments to multiply
·  Total savings and money required at retirement at current expenses


Tuesday, 26 November 2013

Is it Worth to Get Earthquake Insurance?

A home is built with lifelong savings and innumerable dreams. There is more to a home than being just a structure of bricks and mortar. A home is where a family dwells. It is a place that everyone, no matter who, requires to call it the day. If building your home is one of the best feelings in this world, getting it completely destroyed is a feeling that can not be explained in words.

The worst part about natural calamities is that they come uninvited and they hit you the worst when you are the most vulnerable. Earthquakes are natural disasters that every year cause a loss of billions of dollars. Protecting your property from natural disasters should be the first priority of every individual and here comes the significance of getting earthquake insurance.

Earthquake insurance decreases the liability of a homeowner after an earthquake. Constructing a home is not an easy task and it involves the commitment of huge funds. Paying a regular premium for your earthquake insurance can save you from the additional financial burden that you might have to bear. Protect your home with earthquake insurance.

How Bankruptcy Attorneys can Help You?

Bankruptcy attorneys are primarily concerned with providing financial guidance and counseling to individuals who are going through a financial crisis. Bank attorneys guide their clients in matters related to bankruptcy from understanding the process, filing the claim and finally bringing them out of the financial crisis they might have stuck in.

Bankruptcy attorneys, owing to their education and years of professional practice know the various aspects related to bankruptcy. Since they are the experts, they thoroughly assess the financial situation of their clients and guide their clients in the matters related to bankruptcy. By recommending certain actions and alternatives, bankruptcy attorneys help their clients from emerging out of the current financial state they might be in.

Many people claim that hiring bankruptcy attorneys can put additional financial strain over them. However, having a legal representation to your case adds to its strength and also gives you the right equipment to fight with the lenders. Apart from this, bankruptcy attorneys act as a link between you and the creditors who can ask them for extending the loan or consider your case to help you recover from the financial crisis. If you are feeling that filing for bankruptcy is the last option, consult a professional bankruptcy lawyer today.

Do not Let Foreclosure Strip You off Your Home

A lot of people in the US are being affected by foreclosure and this virtually ends their dream of owning a home. In those unfortunate circumstances, when a homeowner fails to pay the monthly mortgage, the property is foreclosed. This could be due to a loss of job, or income source, or an increase in the interest rates, which can make it difficult for the homeowners to make the monthly mortgage payments.

Foreclosure is not a happy situation as it not only strips a homeowner off his house, but it also makes it difficult for the homeowner to apply for loan and buy a home in near future. Moreover, the emotional stress of letting go of your house is something that no individual would even think about dreaming. If you are speculating that you might not be able to make the mortgage payments on time and fear that your house could be forfeited, here are a few options that can help you avoid foreclosure –

  • Forbearance
  • Repayment
  • Loan modification and re-finance
  • Short sale
  • Bankruptcy

Foreclosure is not the end. You should communicate with the lender and financial advisors to come out with a plan that can save you from it. Contact your financial advisors and keep alive your dreams of owning your own home.

Is Flood Insurance a Necessity or Burden?

When it rains, it pours. And when it pours, it may result in flooding. Although most people, especially those not living near the sea level are of the view that flood insurance is not important. However, floods have always been number one cause of devastation in the country.

Even though you do not live in a region where floods have caused menace, it is recommended to get flood insurance. The reason behind this is that natural disasters do not come with an invitation. Even though you are covered with a homeowners’ insurance, investing in a flood insurance is a recommended suggestion as homeowner’ insurance do not offer coverage from floods.

Your flood insurance provider will take care of all the expenses required for repairs of the property that has been damaged during floods. As witnessing your house in wrecks can never be a happy situation, having insured will not add to your woes as your insurance will take care of all the financial aspects. Since nobody can predict when and where floods may occur, it is better to be safe than worry and empty your savings for the repairs. Find good flood insurance and protect your finances.

Protect Your Property with Fire Insurance

It takes seconds for a fire to burn anything that comes in contact with it. Whether it is cooking, faulty wiring or fireplace, we all run a risk of fire breakout in our homes, offices or commercial spaces. We can not predict when exactly an emergency may strike. Fires can break out even with lighting of a candle or turning on the gas and the effects can be devastating. Being insured with a fire insurance policy protects you from a possible financial strain that may arise after a devastating fire.

Even though you have smoke alarms in your home or office, fire spreads rapidly and this could destroy your precious belongings, and even your property, before the fire trucks arrive. Any damage caused by a fire can not be replicated. However, if your belongings and property are protected with fire insurance, you will not have to spend exuberant dollars on repairs and purchases. Moreover, if your home is damaged completely, a comprehensive fire policy will also take care of the hotel and restaurant bills as well.

A small premium can save you from a loss of millions and hundreds of thousands of dollars. Protect your belongings today by opting for fire insurance.

Fulfill Your Dream of Higher Education with Student Loans

College education adds up to your career prospects by giving you a technical and professional edge over others. Studying in college is the dream of a lot of students and if you want to earn a college degree, getting a student loan is the best way to keep your dream of higher studies alive.

There are various public, as well as, private loan programs that are specifically designed for students to pursue their dream of higher studies. The best part about student loans is that they not only provide for the tuition fees, but also take care of everything that you may need in the course of your tenure at the college. Student loans take care of other expenses including books, meals, lodging, and supplies as well.

Student loans take care of nearly all kinds of educational programs. This may include getting into medical school or law school and appropriate funding for junior college, undergraduate, and graduate programs. Student loans make it easier for people who do not have the funds for higher right now but through the knowledge gained from higher studies can ensure payment of the student loan. So do not let the dream of studying in college remain a dream. Opt for a student loan and reach amazing heights in your career.

Finding the Best Car Insurance for You

It is mandatory to buy car insurance if you own a vehicle. Your premium would be calculated by the insurance providers after scrutinizing an array of factors including your occupation, car usage, make and model type, as well as, your age and sex. As a car owner, everyone wants to get the best insurance deal on his/her vehicle. Here are some important criteria to keep in mind for getting the best car insurance –

  • The value of your car is the first criteria to choose the insurance cover. If you own an expensive vehicle, it is necessary that you go for a comprehensive coverage.
  • In case your vehicle is a high performance or a vintage car, it is recommended to ask specialists about what could be the risk factors involved and what things you should consider such as the general maintenance and replacement parts.
  • After closely looking at the various options, decide what insurance provisions that you actually require. Apart from the basic coverage, you can opt for collision coverage, road side assistance, medical coverage or comprehensive coverage.
  • Shortlist 3-4 companies on the basis of your own research and recommendations and select the best insurance policy that suits your requirements best.

Monday, 25 November 2013

Why should You Consider Getting Your Loan Modified?

Buying a home is a dream of every individual. We work hard to save money so that we can buy our dream house. However, as life is unpredictable, what would have been the condition while buying the house, might mot remain the same. The house that you had bought after years of hard work, savings and sacrifices, is now reeling under the threat of foreclosure owing to the inability of you to make the monthly installments and manage your expenses. Loan modification is considered as an integral part of debt payment strategy. Loan modification is an effective tool that allows you to protect your property during such a situation.

A lot of time it happens that the homeowners who bought a home find themselves in a condition when making the monthly payment on the mortgage becomes extremely tough. If you are facing a similar situation, you can get your loan modified. By getting a longer term, you can decrease the monthly installment. Although more number of installments mean payment of more interest, but it is a better arrangement as you are saved from the obligation of paying the current installment. This will not only lower your risk of default and foreclosure, but will also allow you to lead a normal life without having to worry about the finances. Get your loan modified and get back on the track of your life.

Friday, 1 November 2013

Home Loan – Your Route to Your Dream Home

Buying a home is one of the biggest dreams of an individual. Everyone wants to have his/her own home and people work extremely hard and almost the better half of their lives to acquire their home. Home loan is the option for people who want to buy a house for them but do not have the adequate funds. Since a house does not come cheap, the banks and financial institutions provide home loan facility to people at very affordable interest rates.

The amount of home loan that you can get depends upon various factors. These include your income, age, years of working, any previous financial obligations, credit rating, family conditions and others. Apart from this, the loan amount also depends upon the current interest rate, as well as the tenure for which you are getting the loan.

Different banks and financial institutions have different rules and regulations related to the home loan. It is therefore necessary to compare various home loans from different banks and financial institutions and learn the terms and conditions to get the best home loan for you. With easy monthly installments, which continue for years, depending upon your current financial position, you can get an affordable home loan.

Is Investing in Natural Disaster Insurance a Good Option?

If you are a homeowner, keeping your home secure from natural disasters should be your first priority. Most people are of the view that they do not need natural disaster insurance. However, disasters do not come by knocking at your door. Investing in earthquake and flood insurance is an option that you must consider, especially when you stay in a place where floods or earthquakes are not very uncommon.

Floods and earthquakes cause a lot of damage to your property and if your house or office is damaged in a flood, you will not want the additional burden of bearing the maintenance cost. A home is a dream of its inhabitants and watching it getting destroyed because of a natural calamity can never be a happy situation. This is why it is important to get earthquake or flood insurance to save you from the financial burden of building your home again.

Paying a small premium for the insurance is much better than paying for the damages and repairs. Since natural disasters are unpredictable, you can not leave any chance that leads to the destruction of your abode. Buy an earthquake or flood insurance and do not let natural disasters rob you of your sleep.

Budgeting and how it can be Beneficial for Startups

Budgeting is an important feature of every financial plan. Whether it is a household, a multi national, or a small enterprise, budgeting helps people in managing the day to day expenditure and saving funds for the future. In other words, budgeting is making predictions about the future and managing the finances in such a manner so that you do not have to face any discrepancy in the near future. Budgeting and forecasting is important as they help in establishing a set of rules for managing the limited finances and how they should be used.

Since a startup is more susceptible to the changes in the market, it becomes critical for a startup to have a proper budget. By budgeting, a startup can create a business model based on the available finances, assumptions about the future and establishing goals on the basis of such assumptions.

Budgeting is an important management tool as it allows the business to have a clear idea of how much finances that it requires, may require, why it requires and what are the sources from which it can acquire the finances. Budgeting helps in identifying the various risks and creating the required funds to avert those risks. Budgeting is critical to a business’s success and should not be taken lightly as your business’s foundation depends over it.

College Funds to Aid Your Higher Education

Going to college is the aim of a lot of people and lack of finances can make it difficult for a lot of people to give upon this dream of theirs. Everyone knows the importance of college education and what it can do for your career. Even though you have saved money for college education, having a plan and assistance can help you realize that dream.

Many parents start saving for the college education of their children. A 529 plan is a tax-free investment opportunity that facilitates saving of funds by a family for the college education of their child or children. The earnings and withdrawals made from a 529 plan are excused by the state from any taxes, which makes them one of the most beneficial ways of saving money for the college education of your child.

The amount derived from a 529 plan can be utilized for other college expenses and not just the tuition fee. These funds are used for paying for the tuition, dormitory fees, supplies, books, and computer and related equipment as well. Apart from this the 529 plan also covers some specific foreign study programs are also covered under this, allowing your child to study in a foreign university. It is the dream of every parent to provide the best educational opportunities to their children. It is therefore recommended to take the help of state owned 529 plans to ensure higher education of your children.

Fire Insurance – A must for Everyone

Fire can be devastating and can destroy anything that comes in its way. The home that you had built after so many years of hard work and savings, belongings that you have accumulated over the years and anything that you possess can go up in literally a whip of the smoke. It therefore becomes extremely essential to get yourself and your belongings protected with fire insurance.

Fire insurance saves people from the expenses that they might have to make if there is a fire and their belongings get damaged in it. If your property or belongings are covered with fire insurance, then you will not have to pay for any losses or damages. The fire insurance policy will take care of all the damages and you will not have to pay anything from your savings.

Fire insurance cost varies from policy providers to providers. It is therefore recommended that the necessary precautions are followed so as to decrease the impact of loss or damage in claims. Not only this, this will also help you reduce the cost of the policy as well. It is extremely important to compare different fire insurance policies to choose the best fire insurance policy for you.

Why You Need Accident Insurance?

Nobody of us wants to get hurt in a road accident. It is never a happy situation when we see a car rammed into a mini truck on the freeway or some biker lying in a pool of blood. Accidents are something no one wants to talk about and this is our fear which makes us completely discard any thoughts about accidents from our mind.

Most people like to think that they can not find themselves in the middle of an accident. However, accidents do happen and even if you drive carefully or have the sturdiest car, you can still get badly injured. Every year, millions of people fall prey to road accidents. Hundreds of accident victims are unfortunate as they succumb to their injuries.

Even if a person who is involved in an accident and sustained minor injuries may not get back quickly to his/her work. This would mean a loss of pay. Apart from this, there are hundreds of dollars that would be spent on hospital fees and treatment costs. Various employers provide workers’ insurance but that does not provide the complete cover of the expenses incurred because of an accident. Personal accident insurance covers all the expenses of the accident, making you recover quickly and steadily without having to worry about the finances. Consult with an accident insurance provider today and protect you and your loved ones.

Understand the Basics of Loan Modification

Owning a home has become easy for people as they can flash their bulging paychecks to get the desired loans. However, life can not be predicted and this leads to people who had opted for home loans finding them in a situation where they become unable to may the monthly payments of the mortgage loan.

A loss of job, divorce, disability, death or any other unplanned situation can put you into a position where you might find yourself unable to pay for the mortgage on your home. Non payment of the mortgage can lead to foreclosure of the property and this is the worst situation a homeowner can find himself/herself in. Loan modification is the procedure in which the mortgage loan provider can agrees to modify the terms of the mortgage loan, which can make it easy for the homeowner to make the monthly payments.

Loan modification has helped hundreds of thousands of homeowners who have witnessed the hard times beginning with the economic crisis in 2007. After a loan modification agreement, the homeowner and the lender agree on the new modified terms for the repayment of the loan. This might involve negotiating on the interest or increasing the time period involved.

Loan modification allows homeowners to protect their homes when the threat of foreclosure looms ahead. If you find yourself in a position where you can not pay for the mortgage on your home, consult a mortgage professional to get your loan modified.