Merry Christmas and Happy Holidays 2007 !!!
Finance 2007
Friday, December 21, 2007
Sunday, November 25, 2007
This is hell on earth.
This is why it is called Hell.
I could not get any of these rocks as souveniers.
Very freaky looking rocks.
This is the only place in the Cayman's or the world where rocks like this are found. Cool huh?
Saturday, November 24, 2007
The Devil of Auto Finance?
This guy was actually pretty cool. In the Caman Islands, "Hell" is an actual legal county with it's own post office (combined with a souvenier shop and grocery store).
We sent a bunch of letters home "from Hell". You can postmark the letters yourself at the store. It was a good time.
It was tough as always going back to work.
Monday, November 19, 2007
Article from Dealer F&I: (http://www.imakenews.com/dealerfi/e_article000955564.cfm?x=bbDBJgD,b5R7V6RL)
Survey: One-third of Americans concerned about credit...
As woes in the subprime mortgage market persist, a new survey indicates that Americans shopping for car loans and other forms of credit are beginning to get nervous.
The survey of 1,000 consumers was fielded in late October by market researcher Synovate of Chicago for GDEXAuto – a new Web-based marketplace that promises auto dealers and financial institutions can come together to securely package, buy and sell asset-backed debt.
In response to the question – “Given the fallout in the subprime mortgage market, how concerned are you that your ability to obtain credit for something like a car will be affected?” -- one-third of the sample (33 percent) said they were “extremely” or “somewhat” concerned their credit may be at risk.
“Our survey highlights a continuing need to offer lending to a number of cash-strapped segments, with emphasis on the family/young adult market,” said Michael Sheridan, founder and president of GDEXAuto.
“Next to mortgage lenders and home builders, no one is keeping a closer watch on sub-prime finance trends than America’s automobile dealers and affected lenders.” In 2006 those financial institutions made more than $50 billion in auto loans to sub-prime borrowers, according to J.D. Power and Associates.
Among the survey’s key findings:
* Youths Feel at Risk. Concern increases with younger respondents; fully 45 percent of 18-24 year-olds are concerned, along with 43 percent in the 25-34 group, compared to only 15 percent in the 65+ age bracket -- individuals who are less likely to be seeking credit for a car or other big-ticket item.
* Concern Matches Credit Need. By income, the greatest concern (43 percent) lies in within the $25K-$50K segment -- people with enough income to have an interest in a car loan, but not so much that they don't need the loan.
* Kids Raise the Stakes. Likewise, respondents with children in the household – individuals who are more likely to be in the market for a car loan – expressed greater concern (44 percent) than respondents in households without kids (27 percent).
* Credit Impact Already Felt. For some of those in the lowest income bracket, this isn’t a theoretical question; 12 percent say their credit has already been affected.
* Genders Share Concerns. Men are marginally more concerned than women – 35 percent to 32 percent -- but 6 percent of women say their credit has already been affected, against just 2 percent of men.
* Employment Offers Little Relief. Having a job doesn’t significantly diminish these concerns. While 40 percent of the unemployed say they are “extremely” or “somewhat” concerned, 37 percent of those employed fulltime share those concerns. Perhaps less surprisingly, 8 percent of the unemployed are already seeing changes in their ability to get credit.
* Dixie Worried. The perceived credit squeeze is hitting the South hardest; 40 percent expressed concerns – about 10 percent higher than any other region in the country.
* Marked Racial Divide. The racial disparity is even more pronounced – 52 percent of nonwhites expressed concern, versus 30 percent of whites. Likewise, 9 percent of nonwhites say their credit has already been affected.
The GDEXAuto/Synovate survey has a margin of error of +/- 3 percent. For a full copy of the survey results, email info@edgecommunicationsinc.com.
Based in Alamo, Calif., Global Debt Exchange, LLC (GDEX) is a privately held start-up venture that says it simplifies auto finance by offering GDEXAuto, the first Web-based marketplace.
Wednesday, October 31, 2007
Creating Financial Goals
This article is worth reading again and again. There is no author credited but I found the work originally on: http://www.msmoney.com/mm/financial_health/financial_goals/creating_a_financial_plan.htm
Read, print and save, use the knowledge.
Henry Ford once said, "Obstacles are those frightful things you see when you take your eyes off your goals." When you create a financial plan, it's the equivalent of keeping your eye on the ball. You outline your assets, your needs, your goals, and match investments and financial vehicles to help you achieve those goals.
Three Components
A financial plan is generally comprised of the following three components:
A personal profile. The names and dates of birth of everyone in your family, as well as anticipated dates for attending college, retirement and life expectancies
An overview of your financial scenario. This includes your household income, debts, property and assets. You may also include an overview of your risk profile-how much risk you're willing to bear to achieve your financial goals.
Financial objectives. These include buying a home, vacations, saving for college, retirement, or a second home.
Elements of financial planning
Once you have a basic roadmap of where you are currently and where you want to go, it's time to break down your financial plan into a series of tactical strategies. All of these concepts are designed to help you achieve financial security for the future, and ensure that your dreams become a reality.
Cut costs to create discretionary income. In order to invest, you need to squeeze additional money from your income each month. Sticking to your budget will help you do this.
Create an emergency fund. Most experts recommend you maintain between three to six months worth of income in an accessible account should you unexpectedly lose your job or become incapacitated.
Outpace inflation. You need to invest money aggressively enough to beat the effects of inflation over the long term. For example, if inflation is averaging 3% per year, your investments need to return at least that much for your money to increase in value.
Minimize taxes. Like inflation, taxes decrease the value of your income. That's why it's important to understand which investment vehicles are appropriate for which goals. For example, there are many tax deductible and tax-deferred plans available for individuals saving for retirement. No matter what the goal, always look to minimize taxes through tax-advantaged investments.
Diversify. A sound rule for all financial plans is to diversify your invested holdings. Spreading your assets among many different types of securities helps ensure you won't lose your entire nest egg in one poor investment.
Work with a professional. If you've never invested on your own, you may want to start out working with a financial planner. Check with friends, family, and co-workers for recommendations, and find someone with whom you trust and are comfortable discussing your financial matters.
www.autofinanceinsider.com
www.autofinanceinsider.blogspot.com
www.fandi2.blogspot.com
Subscribe to:
Posts (Atom)
