How to be eligible for home mortgage

January 27, 2013  //  Posted by: Financial advisor  //  Category: Loans

home mortgage, mortgageThere are different types of loans, of which home mortgage loan is famous and common among customers who have their own home. For all loans eligibility is important to get the loan approved.

Here are some facts about the eligibility for home mortgage loan…

• Like all loans, the basic loan eligibility is calculated using your annual pay and your repayment capacity based on that. Normally your repayment should not cross 28% of your annual income. If you already have any debt, then the percentage will go even lower. This is also called as PITI ratio.
• If the loan offered is more than you require, don’t go for it. It’ll increase your burden on regular income. Remember, more you get as a loan, more the lender earns from you as interest.
• If you have a co-signor, this improves the eligibility of the home mortgage loan.
• Verify and calculate all your present debts, before going for a mortgage loan.

How to reduce your credit card APR

January 17, 2013  //  Posted by: Financial advisor  //  Category: Credit

Reduce credit card APR, credit cardThough credit cards are useful financial services from banks these days, they are known for their extraordinarily high annual percentage rate (APR). Paying the credit card debt is quite a difficult task and it gets tougher and tougher if it keeps on accumulating. There is an urgent need of managing useful ways of reducing APR of the credit cards. The following ways can be good and fruitful for credit card users:

• Always keep the rate of interest in mind.
• It is always good to shop at lower rates of various commodities.
• Manage and keep the credit score well under control as improper growth of this score can create problems in the long run.
• Keep yourself well in touch with your Credit Card Company or bank to get some sort of favors. It is a practical way used by many credit card debtors.
• Avail the debt management services whenever things go beyond your control.

Virtual Accounting: What Is It?

January 11, 2013  //  Posted by: Financial advisor  //  Category: Business Support

Virtual Accounting, business accountsIf you are a small or medium sized company and saving money is a big priority for you then you can go for online or virtual accounting services. Online book keeping and virtual accounting services are quite popular these days and more and more companies are using these today. As compared to hiring outsourced or in house manual labor for book keeping and accounting, virtual book keeping and accounting is much more feasible and faster as well.

The services which you hire for these matters should be reputed and well experienced in doing some jobs. Make sure that you go through customer reviews and discussion forums regarding accounting and book keeping providers, before you take your decision. Talk to companies and providers and check out their pricing and service quality before you seal the deal. If you follow all these steps you will be able to select a provider which is reliable and efficient for you and your business.

Keeping Your Holiday Spending Under Control

January 05, 2013  //  Posted by: Financial advisor  //  Category: Financial Manangement

Financial tips, personal financeThe holidays are around the corner again and it’s time to celebrate and have a wonderful time with family and friends. It’s also the time when we buy gifts, decorations foods, and plan for vacations. All these need a lot of financial planning and one needs to keep the holiday expenditure under control so that they don’t exceed your financial limits. Make a budget plan before you start shopping. You need to categorize every kind of list and gift items accordingly and see how much you need to buy.

Then check your budget and start adding or cutting down on the number of items or on the type of items you’re buying. If you’re on a tight budget this year, you can even make some handmade craft like cards, gift-baskets, home décor items and give them to your loved ones. It’ll be a more personalized gesture which would hold a very meaningful significance.