The only problem with the Self-Managed Super Funds (SMSF) is that they bring up their own set of costs. The SMSF holders are charged more than $3000 for administration, tax return and other processes. This has put up SMSF behind, for a long time. The technological innovation and the internet have helped to provide a solution for it. Recently, the SMSF administrators are using online services to process transactions and charge the trustee for the number of hours, they spend. Continue reading
The big four banks are ready to announce a combined annual profit of $27 billion. It looks like the banks are making a record breaking profit. Does that by any chance affect the individuals? The answer is yes. Continue reading
Businesses need to consider a few essential matters when assessing a loan agreement, according to DynamicBusiness.com.au.
Businesses need to understand whether they should opt for a fixed or variable rate and what their repayments are schedules to be. Fixed rate loans provide more certainty but less flexibility with regard to early repayments. Variables rates vary in line with market conditions but offer more flexibility. It’s useful to check the default rate of interest which applies when the loan is in arrears.
Business owners should work with an advisor to determine the right kind of business finance for them, according to business.gov.au.
Line of credit
A line of credit is an amount of finance that is usually secured against property owned by the business owner. This type of loan is particularly flexible and the interest rates are low due to the collateral. On the flipside, business owners can lose their home if they fail to keep up with repayments.
The billionaire investor, Warren Buffett provides an insight on how to avoid the top three investment mistakes Wall Street people usually commit. According to him, building wealth in stocks is one of the ways to manage hard times. Continue reading
Borrowers should thoroughly understand their financial position in order to find the most affordable personal loan for them, according to Yahoo!7.
Why get a personal loan?
Personal loans can be used to consolidate a range of high interest debts into one simple, more affordable monthly payment. Credit cards currently charge between 10-23% interest and a consolidation loan can bring this down significantly. Personal loans can also be used to catch up on bills and pay for personal assets such as cars and household appliances.
Debt troubles in the US have cooled the Australian market, with the ASX 200 dipping below 5200, according to the Australian Financial Review.
Shane Oliver, an analyst for AMP, said the trading conditions as very messy. The situation is not being helped by politicians around the world adding to the uncertainty with destabilising rhetoric and policy. Markets in Hong Kong and Japan were also down 1% this week.
A bad credit rating can come about in a range of ways, according to Yahoo!7Finance.
What can affect a credit rating?
Errors in personal information along with out of date information can quickly cause problems. It’s important for people to get a copy of their credit record and quickly correct out of date information.
With the economy becoming more unstable due to inflation, one needs a hedge against inflation. The inflation figure for this quarter is announced as 1.2% increases, which is way ahead than the expected rate of 0.6% hike. To fight this, investors could allocate few of their eggs to inflation linked bonds. Continue reading