Business, Technology, Internet and network concept. CRM Customer Relationship Management.
There’s so much buzz around insurance CRM (Customer Relationship Management) companies and their ability to help businesses grow. These partnerships can make the insurance industry even more competitive, particularly among small and mid-sized players. This article will look at what these collaborations entail and the reasons why insurance CRMs can be an excellent addition to your business. [Read more…]
Some people, when they take out a loan, don’t even ask the question, “What if I can’t pay? It seems like that can’t happen. But anything can happen in life, so it’s best to understand in advance what can happen if you have a loan and no money. With the support of MyFin Service (click here), I’ll tell you everything I know about it. [Read more…]
The saying is true: old habits die hard. And that saying applies to financial habits, both healthy and unhealthy, for those of us who are in debt.
Healthy financial habits are conducive to living the lifestyle you want without wasting money or going further into debt when you don’t have to. Healthy financial habits include spending within your means, saving when possible, and setting aside money for emergencies, the future, and your dependents (for instance, setting aside money for your kids to attend college).
The global spread of the COVID-19 virus has dramatically changed the lives of millions. As countries impose nationwide lockdowns for public health safety, many companies decided to lay off or furlough their people—putting a dent in many household incomes. [Read more…]
You’ve finally decided to sell your mobile home… but what now? It can be a daunting process if you don’t know the first thing about mobile home sales. That’s why we’re here with some expert tips to help you get started! [Read more…]
Your credit rating is the single most powerful financial feature at your disposal. It affects your ability to access money or financial instruments, such as credit cards and mortgage loans. For obvious reasons, you should try to improve as much as you can. [Read more…]
Easy Ways to Create A Positive Atmosphere In The Company and Save Big Bucks at the Same Time [Read more…]
Employee L&D programs are an important part of every organization as they help employees learn the necessary skills to perform well in their jobs. With an employee-centric L&D program, you can also help employees learn new things to stay competitive. [Read more…]
When you buy a property in the USA, you can often have a say on the duration of your mortgage. The two most popular mortgage duration terms in America are for 15 and 30 years.
Thirty-year mortgages are considered the gold standard and are the prime choice for most first-time homeowners. But recently, 15-year mortgage terms have started to gain popularity among homeowners – especially amongst high earners.
Both 15 and 30-year mortgages have their own set of benefits and downsides. For that reason, it is important to know which mortgage is right for you as making the wrong decision will leave you with pretty severe long-term consequences. At the end of the day, it’s best to talk to a mortgage broker like Breezeful to help you make the right decision.
A mortgage is a loan borrowed from a lender (usually a bank) that allows the buyer to purchase a property. In a mortgage, there are two main components: principal and interest. Principal refers to the total amount of the loan, while the interest refers to the additional amount the lender will charge for the privilege of borrowing the money.
On top of those two components, other factors to consider are the term of your mortgage and the annual percentage rate (APR). A mortgage term is how long you’ll be paying off the mortgage while the APR assesses the total cost of the loan – taking interest rate and other fees into account.
When it comes to repaying your mortgage, your monthly instalments will be heavily influenced by the mortgage term, amount of money you borrowed, interest rate, and more.
In a 15-year mortgage, the main disadvantage is that you will pay much higher monthly instalments. This is because you will need to repay the loan quicker (within 15 years).
The main benefit of a 15-year loan is that you will pay a lot less money in interest, the additional money the bank charges every month for lending you the money.
On the flip side, on a 30-year mortgage you can expect lower monthly payments, but the interest will be a lot higher.
Fifteen-year mortgages are best for individuals who have a larger down payment and are either borrowing a smaller loan or have a very high-paying job (provided you want to take a 15-year mortgage on a larger sum of money).
On a 15-year mortgage, you will be paying a lot less interest on your loan.
The monthly payments on a 30-year mortgage will be much lower, and you might be able to get more end-of-year tax benefits, which will ultimately save you money on your tax bill. Luckily, regardless of the state that you live in, you can take advantage of those benefits. On the downside, because long-term loans are riskier than short-term loans and cost banks more, 30-year mortgages usually have higher interest rates.
If you decide to go for a 30-year mortgage, that doesn’t automatically mean that you will have to repay the loan and the interest back in 30 years. If you start making more money during your mortgage term, you can start throwing your extra income at your loan.
By paying off the loan sooner, you can reduce your mortgage term and subsequently the interest on the loan.
Getting a mortgage is a great way of buying a home without having all of the capital upfront. On top of that, getting a mortgage will also mean that you can save a lot of money on your end-of-year tax returns. While borrowing money from a lender means you will have to pay interest on your loan, you have a lot of flexibility in regards to the type and the duration of the mortgage that you want to get depending on your current circumstances.
Moving to a new country is exciting and can be a completely life-changing experience. With so much to plan and organise before the big move, it’s natural that certain things might slip your mind. Because of this, it’s important to have a clear idea of everything you need to do and more importantly – everything you need to budget for. Planning your finances as meticulously as possible will help you to manage the blow this event will have on your bank account. We’ve rounded up some of the most important costs to keep in mind while you’re saving up for your immigration.
The Travel
With all the moving considerations, documents and other stresses to be managed, many people have the tendency to slip up on… the actual travel itself. You’ll want to think about things like your flight tickets, renting cars when you arrive at your destination, a hotel in case you don’t have a home to move into just yet, and the important factor of travel insurance. If you have older family members moving with you, you’ll want to check out the best travel insurance for seniors.
The Moving
You’ll also want to consider the moving of all your things – hiring an international moving company is a big financial commitment and you’ll want to make sure that you get quotes from various companies to find the best possible deal. Try to do this early on so that you’re financially prepared and have some time to save up since this is a large expense. These costs can vary depending on how much stuff you have and how far you’re going, so keep this in mind when you’re packing and deciding on what will stay and what will go. If you’re moving all your belongings across the world, shipping insurance is another cost you’ll want to keep in mind and factor in for a safe trip for all your stuff.
Packing and Unpacking
This is an additional feature for many moving companies and might not be factored into your main quotation for the move. You’ll need to consider whether or not you’ll want to hire assistance for the packing and unpacking portion of your move, or whether you’ll decide to be brave and do it on your own. In this case, you’ll want to consider the members of your household and how much time you’ll have to handle the packing and unpacking processes amidst everything else going on. Having packing assistance also contributes to the legal system when you’re moving – if you don’t have a moving company to affirm that you’re not shipping anything illegal, you might be expected to leave all your boxes open to be inspected.
Documentation
Keep in mind that you’ll have to apply for some documentation – a visa for starters – and even reapply for some things you might already have. Renewing your passport is one example. Visa fees can come to quite a hefty sum, depending on where you’re going, so try to find out what this will cost ahead of time. You might also be interested in hiring an immigration lawyer to assist you with all your docs, in which case you’ll need to consider legal fees as well. It’s an additional item on the budget, but it can make the stress and management of the process a whole lot easier to handle, especially if you’re facing uncertainties.
Storage Costs
Coordinating your moving dates can be a nightmare. The dates when your stuff gets shipped off, when you leave for and arrive in your new country, when your stuff arrives and when your home is ready to be moved into, seldom coincide precisely. This means that you will very likely need to factor in some storage costs for your things for a period of time. Planning your dates well in advance can help to minimise the amount of time your belongings will spend in storage, and thus keep your costs to a minimum, so try to plan everything as thoroughly as you can and as early as possible. Keep in mind that in a big move like this, not everything will go according to plan, so you’ll need to be slightly flexible.
Your New Home
Even simply moving down the street can often involve a whole lot of expenses – and even some unexpected ones. When moving abroad, you’ll need to consider the typical moving costs as well for your new space. This can include hiring cleaning services for before you move in, any potential repairs or alterations that need to be made, fixing up garden spaces and even buying new furniture or décor to fill up extra space (or simply different space) that you hadn’t accounted for. Your move might entail a downscale or an upscale in which you might need to swap our furniture pieces for something more appropriate or purchase extra storage space to account for less built-in cabinetry.
