Archive for the ‘Financial News’ Category

Religious Schools – Good or Bad Idea?

I recently met with new clients who happen to be religious people. The couple is very nice. In fact, they are wonderful people. But they struggle financially. Why? Do they have lousy jobs? Nope. They are great earners. Are they big spenders. Not really. They live very frugally except for the one item – a private, religious school. They strongly believe in sending their children to religious school at all costs – so they do.

You know the first question that Joan (the wife) asked when they came into my office?

“Should we refinance our mortgage to pay for our childrens’ education?”

They showed me the tuition they were paying to send their children to elementary school and I just about fell off my chair. The first thing that popped into my head was that I should start a school! With that

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IO Loans and Mortgages

The Interest only or the IO loans are of the greatest benefit to the first-time homeowners or borrowers. More specifically speaking, the IO has the greatest benefit to the lenders and borrowers as they become qualified for those mortgages, they are usually not allowed to finance homes with.

According to various definitions, these loans are made by making small payments per month and are different as compared to the standard loans that are conventional and principal-repaying. Overall, these loans are a great benefit to first-time homeowners or borrowers as it acts as an increase in the disposable income of the individuals.

However, these loans also hold a certain amount of risk in them provided the borrowers mismanage their finances.

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iBank as a Quicken Replacement?

Over the weekend I spent some time migrating my 14+ years of Quicken data from Quicken 2007 to iBank, which was at the top of my list of Quicken alternatives. I’ll be providing lots of details below, but the executive summary is that iBank (currently version 4.2.4) is a great piece of software, though I’m not convinced that it’s right for me.

While the good folks at IGG Software were kind enough to provide me with a review copy, iBank comes with a 30 day free trial that can upgraded to the paid version at any time. That should give you more than enough time to decide whether or not you like it – and if you do, simply register your copy and keep on using it.

Okay, back to the topic at hand…

Getting your data out of Quicken

For starters, I had to export my data from Quicken into a QIF (Quicken Interchange Format) file. This is o

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First Looks: Essentials of Marketing

The Lowest Price we could find is  $85.00

This book is about marketing and marketing strategy planning. And, at its essence, marketing strategy planning is about figuring out how to do a superior job of satisfying customers. This author team takes that point of view seriously and believes in practicing what they preach. Your customers can trust that this new edition of Essentials of Marketing 12e and all of the other teaching and learning materials that accompany it will satisfy your customers needs.

Building on Pioneering Strengths This author team pioneered an innovative structure using the four Ps with a managerial approachfor the introductory marketing course.

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Tags: Marketing

Canadian Finance Carnival #44

Budgeting

Teacher Man at My University Money presents Why I Automate My Finances, saying “Automating your finances will save you time and money, and it will also ensure your bills get paid the next time a postal strike comes around.”

Mike at Experiglot presents Diversify Everything You Can When it Comes to Money, saying “How to diversify your money.”

Philip Taylor at PT Money Personal Finance presents Pay Cash or Finance a Car?, saying “Looks at both the mathematical and emotional considerations when purchasing or financing a car.”

Career

Darwin’s Money at Darwin’s Money presents College Degrees that Leave You With Debt for Life, saying “Here are several cases of college degrees that have left students with debt for life. It’s critical to

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How to Run Quicken 2007 After Upgrading to Mac OS X 10.7 (Lion)

At the risk of beating a dead horse, I have a bit more info on the Quicken/Mac OS X Lion debacle… According to MacRumors, OS X Lion will allow you to run multiple copies of OS X in virtual machines on a single computer. This means that you should be able to update to Lion (10.7) but continue running Snow Leopard (10.6) or earlier using VMware Fusion or Parallels.

Translation: If you have (or are willing to buy/install) Fusion or Parallels, you can update to the newest version of OS X while still running an older version that supports Rosetta, and thus Quicken 2007.

This is a somewhat clunky workaround, but if you’re willing to run Windows in a virtual machine in order to keep using Quicken, then you’re probably willing to run a second version of Mac OS X in the same fashion.

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Ethics and Investing

I’m sure most of you guys have heard of a bottled drink called Fanta. For those of you unaware, it’s available around the world in various flavors, usually fruit based (orange, grape, strawberry, etc.) It’s bottled by Coca-Cola on a local level, hence why certain areas have flavors that others don’t. What’s much more interesting is the story about how Fanta was introduced.

Back in 1941 in Nazi Germany, the local Coca-Cola bottler was in a pickle. They wanted to sell Coke, but couldn’t import the syrup because of that pesky World War that was going on. When a local bottler signed their distribution contract with the main company, there was one main stipulation- that the Coca-Cola syrup be purchased directly from the company. The head of

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The Cost of Living in a Paid-Off House

About a year and a half ago, we paid off our mortgage. The issue of whether you should pay off your mortgage early or invest has always been a hot topic in financial circles, but I can tell you this much:

We haven’t regretted our decision to pay off our mortgage. Not even once.

Of course, just because we’ve paid off our mortgage doesn’t mean that we’re living for free. We still face a number of expenses, including property taxes, routine maintenance, homeowners insurance, etc. So just how much do these things really cost?

Let’s start with property taxes. Property taxes vary widely based on location, but around here they average about 1% of a home’s assessed value per year. Unfortunately, the only real way to combat this bill – aside from moving to a less expensive home – is to appeal your assessment. The good news i

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