My Finance Blog » Personal Finance

Inside Look: The Bernard Madoff Scandal

admin — Sat, 28 Nov 2009 17:13:14 +0000

SIPC to Liquidate Madoff Firm as Losses Exceed $30 Billion; Reaction with Brad Alford of Alpha Capital Management; Madoff Scheme Hurts Charities – Interview with JEHT Foundation President Robert Crane … Editors Pick Economy Law Legal Issues Government Politics charity Personal Finance Bloomberg bloomberg Television

Maria Bartiromo interviewed by Caroline Rhea

admin — Sat, 28 Nov 2009 15:11:41 +0000

Maria Bartiromo interviewed by Caroline Rhea … Maria Bartiromo interviewed by Caroline Rhea personal finance

Keeping Track Of Your Personal Finances

admin — Sat, 28 Nov 2009 13:13:16 +0000

We have often heard about people who are known to be experts at managing finances at office but financial matters at home are relegated to a backseat. Maintaining accounts seems to be an intimidating thought for most of us who are not accountants. However, it is not a feasible idea to go about dealing with a problem this way. What is required is to take the bull right by its horns.

One of the important determinants of the personal finance is credit. In the domain of finance the credit score holds the key to the success. In the absence of respectable credit score, you would not be able to borrow money or obtain a home loan or a vehicle loan. The importance of this number can be judged by the fact that if this number goes wrong then it has the ability of leaving your goals unfulfilled.

Your credit number is directly associated with the credit that is currently in your name. Individuals who abuse credit cards and rack up high bills often have poor credit scores. Remember, it is not the amount your charge that can become detrimental to your credit, rather it is the amount you keep on your credit cards that can prove harmful. Use your credit cards wisely and carefully check your monthly statement. Once your statement has arrived, strive to pay off your outstanding bill in full each month.

In today’s society, identity theft is often a problem. If someone steals your identity, they can wreck your finances, ruin your credit, and tarnish your good name and reputation. In order to prevent identity theft, carefully monitor all your financial statements and safe guard your personal information.

Most individuals put off saving towards retirement until a later date. Quite often, these individuals are often caught off guard by their rapidly approaching retirement date and the non-existent retirement fund. Instead of waiting until tomorrow, begin today. Take control of your personal finance situation and invest in a retirement fund immediately. Begin putting a portion of your income in this account in order to secure your future.

Make a budget and stick to it. It is an excellent tool to cut down spending and control your finances. When you can see exactly what numbers go in the income and expenditure columns you can easily spot the problem areas. The only money you have to spend in the month is that which remains after taking out items such as a rent or mortgage payment, car payment, insurance, utilities, and food.

If you are unsure how to go about setting your personal finance records straight, contact an accountant. He or she will be able to correct any potential problems while ensuring your future will be successful.

The world of finance is fascinating. There’s no need to be scared of it. Just keep your finances straight and you will be able to build, or rebuild, your credit score.

Part I – Young Millionaires & Producers Program

admin — Sat, 28 Nov 2009 11:11:46 +0000

Patterson (CEO of The Baron Solution Group) and Earl Christian III (Executive Producer of The Urban Wall Street Program) have joined forces to create the BARON Young Millionaires and Producers program. The program teaches an integrated suite of entrepreneurship, personal finance, and film production skills to students of all ages to help them to become the next generation of young millionaires. For more information visit, www.baronseries.com … “wealth coach” millionaire finance students …

Inside Look: A Severe Global Economic Contraction

admin — Sat, 28 Nov 2009 09:13:16 +0000

Interview with Nouriel Roubini of NYU Stern School of Business … Editors Pick Banking International Government Politics Law Legal Issues Personal Finance Economy

Now Realise Your Dreams With Personal Finance

admin — Sat, 28 Nov 2009 07:11:45 +0000

The rate on the loan amount availed is the deciding factor while availing such a loan. Various banks like HDFC, Citibank, Standard Chartered, ICICI and scores of others have provided a vast range of competitive options for the consumers in the field of personal financing. And what is even more important, bad credit clients can also get the benefit of personal finance; even though they are charged a bigger rate of interest. Even in the case of choosing a credit card, the person is supposed to lookout for a company which charges the smallest rate of interest. Another effective form of personal finance management is achieved by using the debit card. In this one can spend the amount available in his/her account only. The interest outflow, but, should be at its smallest level to save some money for emergency and other expenditures.Personal loans in India can be categorized in two ways as secured and unsecured financial schemes. The secured form of finance enables the people to obtain loan against their property at its mortgage value. This item of property acts as collateral benefiting the cause of the borrower. For the people, who do not own any property to put up as a collateral or consider putting the piece of property on the stake as risky, unsecured finance is the other choice available. This gives them freedom from the risk of repossession and auction, which is quiet common in the condition of payment default.Of late the people’s style has seen a phenomenal rise in the expenditure pattern. Such over-expenditure, well beyond the means of income and the individual’s earning capacity normally results in the debt trap. Most of us,in fact, from the wealthiest to the needy ones, are caught up in the borrowing trend. But the problem gets aggravated due to the paucity of awareness about key aspects of personal finance loan rates.A sound knowledge and proper application of personal financing interest rates can benefit the people in a great way in managing their finances. Both loan-availing and managing personal finance are the different facets of the same coin. They exist in parallel in a consumers life. The personal finance sector in India has followed the trend of economic boom under a globalised economy. India is accepted as the emerging Asian Tiger among the leading economies of Asia. In the recent years, it has really provided a very tough competition to China by rivaling it in the sphere of business environment. There are many key features and process in the field of personal finance system in India which make it one of the best options for economic growth in the future.As far as the personal finance interest rates are concerned, Indian Overseas Bank competes with the best by providing such borrowings at the rates ranging between 12 to 13.75 percent for the salaried category. Canara Bank follows closely on the heels with a flat rate of 14 percent on personal loans. Central Bank of India has the interest range between 14 to 15 percent.

Most of the banks have a cluster of varying interest rates, depending upon whether the loan-taker is salaried or self employed. Personal and occupational profiles are very closely followed. Among the salaried class, the top ten companies have smaller rates of interest. Even the employees within each company will have to settle for different rates depending upon their salaries, individual profiles and credit past.In the case of self-employed professionals like doctors, engineers and chartered accountants they are charged much lower rates of interest in comparison to self-employed non-professional persons who are required to pay a bigger rate of interest due to the assumed risk involved in giving credit to such consumers. So, one ought to negotiate to avail the lowest possible rates for the category and class he/she might fall under.

Part I – Young Millionaires & Producers Program

admin — Sat, 28 Nov 2009 05:11:12 +0000

Using Personal Finance Software to Manage Your Finances

admin — Sat, 28 Nov 2009 03:11:31 +0000

These days, computers have really improved our way of living, primarily our systems of communication. Other than that, they also play an important role in financial analysis and management.
Before the advent of computers, people had no choice but to rely on financial advisors and bankers for advice on managing their personal finances. Those who found financial management as a burden had to consult finance experts who charge very high fees. However, some personal finance software that has recently been developed has become alternatives to the bankers and financial advisors.
The Benefits of Using Personal Finance Software
Personal finance software is used by many financially-confused people these days because this software is really affordable and very useful. There are many of this software that is available in the Internet. Some even come as complements of the more popular personal finance books. Several of them can be had for less than a hundred dollars ($100.00). Moreover, people have come to realize that this personal finance software is actually more affordable than bankers and financial counselors.
This personal finance software is considered long term investment. One only has to pay a one time purchase fee and he will not need to worry about his personal finance management for years to come.
Moreover, this software is actually very easy to use. Contrary to the common notion that this software is complicated and that they require in-depth information technology knowledge, they are actually very user-friendly. They were actually developed to cater to non-technical users.
This personal finance software is automated. When installed properly in your computers, they can be used within the comforts of your homes to balance your finances, pay your bills, monitor your investments, manage your accounts, and for other purposes. You can even program your software to create detailed budget plans on a regular basis.
Choosing Your Personal Finance Software
Before buying your own personal finance software, be sure to carefully analyze your needs first. Note that this software have varying uses and capabilities. You have to make sure that you first prepare a list of all the functions that you expect from a personal finance software.
Although most of this software can help you manage your personal finances, you may need specialized types that can actually meet your unique needs. Some software is made to cater to people who are employed, while others are made cater to self-employed people.
There are some simple personal finance software that can produce narrative reports, while other more sophisticated software can produce charts and detailed financial statements. Moreover, some programs are limited to investment and finance management, while others which are more advanced enough can handle tax filing. Examine all the qualities and functions that you need and use them as basis for your choice of software.
In choosing a personal finance software, you will also have to check the system requirements, aside from the software’s functionalities. Note that there is software that is based on Windows operating system, while others run on other operation systems. Consider the specifications required as well.

Exclusive: Lehman Brothers Conference Call

admin — Sat, 28 Nov 2009 01:10:15 +0000

Live! Lehman CEO Richard Fuld Breaks Down 3Q Earnings Report – Quarterly Loss of $5.92/share, Dividend Cut to $0.05/share, Asset Management Stake Being Sold … NYSE:LEH Mortgages Real Estate Economy Business Personal Finance bloomberg tv television Bloomberg Television

The Importance Of Personal Finance In A Recession

admin — Fri, 27 Nov 2009 23:11:51 +0000

Looking after your personal finance situation and getting it in order is probably the most important aspect of surviving a recession. Each one of your financial pots plays a big part in how much money you have left in your pocket after payday. So you need to be aware that when it comes to loans, mortgages, credit cards or savings, if you are not getting the best deal – you will lose out.

Unfortunately, the days when happy shoppers went from store to store to spend their money are over. As the recession sets in, lenders are reluctant to lend money and keeping hold of their cash as well as being very choosy who they lend to.

So what steps do you need to take to win in a recession and keep your head above water? Closer scrutiny and stricter criteria make it important than ever the tread with care when looking for the best money deal together with an understanding of what it is you are buying. You could be moving your savings to a better account that is more appropriate for your own personal circumstances that may pay a better interest rate for example. Look at your mortgage and shop around for a better deal. You may even have to consider putting your credit card into a block of ice to prevent unnecessary spending.

When looking for your first home, save up as much money as possible. Lenders much prefer their buyers to have a larger deposit as they want to lend to responsible borrows who pose as little risk as possible. The bank will see the fact that you have saved the money as proof of this. Lenders also feel that if the borrower has a stake in the property too that they will be less likely to default on the part of the home they have a mortgage against.