Author Archives: Team Dinks

[This is a guest post]

If you have the money available, have you ever considered purchasing a second property or two and starting up as a landlord?

It might not seem logical to spend a considerable sum of money right now, but tying it down into something concrete that generates income can prove more valuable and secure in the long run – especially later in life when you retire or don’t work as much.

Protection

Of course, as a landlord you will need insurance. There is a big difference between traditional home cover and Landlord Insurance and it is all based on who lives in the property. With a normal home, the owner is often the resident but, when it comes to being a landlord, you are essentially arranging cover for the actions of someone else.

Yet cover also insures the house and other aspects that are still your responsibility. As such it is a highly useful form of security that gets you the money you need should something ever happen.

Rights

Being a landlord also changes some of the rights in regard to you and the property which you should be aware of. Once a home is established as a rental property, you can’t simply turn up whenever you like. The tenants are given access to the home and you legally can’t just walk in because you’re the owner. A notification period is a requirement and often found in the contract, usually offering a minimum time frame of 24 hours – with exceptions made for emergencies – and you must turn up at a ‘reasonable time of day’.

Expanding

As stated at the beginning, renting a property can often feel as if you’re trading in a large sum of money for a smaller income. However, try to remember that income is ongoing whereas the money has a limit to it an end. Even in these circumstances, you have this money tied up in the property should you ever want to stop being a landlord.

Yet you should consider expansion if increasing your income is what you want. One property generates a small bonus but multiple properties will capitalise on any potential. Given that it only involves a certain amount of paperwork and potentially low maintenance, running such properties could prove to be a great source of extra income.

[Guest Post]

When it comes to careers in money, we all know the basics: broker, analyst, lender, consultant, accountant and about 1,000 variations of each. When it comes to finding new finance jobs, though, sometimes the road less travelled is the one paved with gold.

We spoke to industry pros David Bakke, of investment and education website MoneyCrashers.com, and Brian Hugins, senior connector at 919 Marketing, to hear about a few roles in the industry that might not pop into your head right away when you think “finance jobs.” Here are ones they brought to our attention:

Forensic accountant

Do you like crime dramas and court-room thrillers? Do you happen to be more of a number-cruncher than a chase-’em-down-the-alley action hero? If so, this lesser-known position might be for you. According to Bakke, forensic accountants generally work for the FBI. It’s their job to snoop out criminal financial behavior, or potential criminal financial behavior, being carried out on the sly by companies and corporations.

“Forensic accountants may also investigate international terrorism, espionage, and general public corruption,” says Bakke.

MoneyJobs.com had a posting recently for the position of forensics accounting consulting associate with McGladrey, a leading provider of assurance, tax and consulting services. In its description of this sleuth-like role, the posting said the job would entail “conducting investigations related to embezzlement … Ponzi schemes, health care fraud, fraudulent conveyance, purchase price disputes, royalty audit, related party transactions, billing disputes, bankruptcy fraud, securities fraud, anti-money laundering, and other matters.”

Alternative financer

Hugins added alternative financing to the list of uncommon finance jobs. He works with a company called the Interface Financial Group (IFG) that does exactly this. IFG provides short-term working capital to small and mid-sized business, but they are not loaners and their franchises do not lend money.

Instead, they do something called invoice discounting. IFG buys a company’s current, unpaid invoices, which grants their clients instant access to capital.

“Invoice discounting is essential to continue the economic recovery because it is one of the few forms of funding available to companies, especially in the small business arena” explains IFG president David Banfield. “Because our service is offered in a franchise format, clients are doing business with the person who will actually make the decision and buy their invoices, ensuring a very timely approach to servicing the client’s needs.”

Though the company has been in business for 40 years, Hugins points out that this kind of alternative financing is something many people don’t hear about until they’re in need of its service.

Investment writer

Are you fortunate enough to both understand the money world and the written word? If so, finance jobs that combine your skill sets, like that of investment writer, are worth looking into. “Although you need experience and the ability to write, it can be a lucrative career,” Bakke says of investment writing. “Potential employers include banks that need help with marketing materials, or even a magazine or newspaper with a financial focus.”

These writers can write for savvy audiences who know the lingo or for the general public. When doing the latter, they take the jargon of the industry and put it into smooth, digestible terms those who don’t have a finance background can understand. The work of the investment writer can range from ghostwriting a financial article (that is, assisting a writer behind the scenes without taking credit as the author), writing newsletters, press releases, content for websites, books, speeches, columns and much more.

Investment writers are especially useful when companies want to communicate with people outside the industry or attract new business. The writer can articulate in an understandable manner what the finance company offers without asking the audience to read “The Complete Idiot’s Guide to Investing” first.

[Guest Post]

Feeling intimidated when it comes to negotiating for the best deal on your new car?  You’re not alone –consumers consistently rate this as one of the worst parts of the entire car buying process. Here are 5 suggestions to help you get the best price for your new vehicle while lowering your stress levels about the whole thing.

1. Get your financing pre-approved before you talk to a dealer

When it comes to a new car, you’ll want to know how much your bank will allow you to buy before you start shopping for cars. For one, this helps you narrow your focus, but it also gives you a bit of an advantage in the negotiating phase – a dealer who knows you have the money all sorted will be more amenable to work with you than if they need to wait for the approval.  Also, if you don’t have approved financing, you might be pressured by the dealer to go with their banking partner in order to get the best price, a decision that may end up costing you a lot in the long run.

2. Know the sticker price, and know the model’s full line-up

The Internet is your friend when it comes to being prepared for your first encounter at the dealership. You want to know two main things you need to know to be more confident in your negotiations:

• “Sticker” price: this is the price that the manufacturer suggests the dealer sell the cars for. You obviously want to go as low as possible.
• Options and Models: this is knowing what your car comes with standard, and what optional upgrades are available.  You’ll also want to know what the next step up is, or the next step down, as it might become useful in the negotiating process.

3. Remember that price is only one of the things you can negotiate

As just mentioned, most cars have features and functions that are not standard.  Have some things in mind that could be useful extras for you. This could be safety features, like passenger airbags or antilock brakes, or just functional upgrades like a nicer sound system.

4. Compare apples with apples

The price of the car is not the only thing you’ll pay to drive off the lot. You have your Goods & Services Tax, registration fees and sometimes dealer fees. These can add up to several thousand dollars, so it’s important to make sure the dealer is giving you a price that is the final price.

5. Lastly, make an appointment

Setting an appointment sends a clear message that you aren’t a tyre-kicker. You can also let them know when you book that you’ve done your homework, have a clear idea on what you’re looking for and expect to finalise your discussions in this meeting.  Arrive prepared and know what you will and will not accept. You’re now ready to negotiate! If you’re looking for car finance or need help buying a new car go to Platinum Direct novated lease calculator to get started.

This is a guest post from a blogger in Australia.

Being able to retire is a milestone in life that you should put every effort into enjoying. Not having to set an alarm clock and roll out of bed to go to work is sometimes hard to get used to. You might as well keep that alarm set and use the time to go and enjoy some of the more fun things. Being on a fixed income shouldn’t keep you from being active and enjoying life. There are numerous activities one can do that are either low cost or free. Below is a list of things you can do to make your pension years more fulfilling and enjoyable.

Travel

There are a lot of places that you’ve probably always wanted to see, but never had the time. You can visit the Everglades, the sunny Gold Coast or even take a camel ride in Broome.  It’s time to get out there and look for a new adventure.  If you really want to do something outrageous, take a cruise around the world. You will visit amazing places, meet amazing people, and have a lifetime of memories.

Volunteer

There are a lot of organisations that can use your help during your pension years. You can help tutor adults in reading and writing, assist in rehabilitation and assisted living centers or become a teaching assistant. Your experience is worth its weight in gold.

Golfing and Fishing

Getting outdoors and enjoying the good weather might be something you haven’t had a lot of time to do until now. You no longer have to worry about reserving a tee time on your specific days off. The avid golfer can enjoy the sport with more frequency and you can choose from some award winning courses throughout the country. You can take a luxurious fishing excursion or simply grab a pole; some tackle and hit the river front.

Start a Craft Hobby

Try your hand at oil painting. It might end up being a talent you never knew you had. Perhaps you can start making furniture and outdoor items with natural woods. Hobby crafts can earn some excellent side income and is a great way to make the pension days more creative and enjoyable.

Join a Vintage Car Club

Collecting cars has been a popular activity since the invention of the automobile. Vintage car clubs have popped up in nearly all locations. You can join whether you own one or not. All it takes is a love of the automobiles of yesteryear. They hold a lot of rallies and events that are a fun way to spend time with people of shared interests.

Fundraising

There are a lot of great causes out there that need help with fundraising activities regularly. You can help with events to raise money for breast cancer research, birth defect preventions, and diabetes treatments. It’s a nice way to meet some wonderful people and help raise awareness and funds for a worthy cause.

Wildlife Preservation

There are many nature and preservation centers throughout Australia that work hard to preserve all that the country has to offer when it comes to wildlife. Show your support by visiting and sponsoring them during your pension years. You’ll have a lot of fun and learn some things too.

Gardening

Having a lot of time off means that you’ll have time to devote to the garden you’ve always wanted to have. Try raising some rare flowers and fauna that require more attention than you’ve been able to give previously. You might even try your hand at growing your own vegetables, which will help you to save money.  Start today, you might amaze yourself.

Physical Fitness

Entering your pension years means that you should devote more time to getting and staying healthy.  Join a gym or fitness center and get regular exercise. Eat a healthy diet and you’ll find that you have more energy and drive to enjoy the years ahead.

All of the preparation that you have made leading up to this moment is so that you can enjoy retirement. Pension is income, but it’s also peace of mind. Use it wisely, and take control of the rest of your life. You’ve worked hard and now it’s time to enjoy the rewards.

(Guest Post)

Today, there’s always a better deal to be had if you shop around, no matter what you’re buying. And with most businesses operating online, you can do all your shopping around without leaving the sofa!

This holds true for moving money from one currency to another, and it’s great to be able to compare rates from a few different brokers, so that you don’t feel you’re just taking the available option to save time.

The reason it’s possible to do this now is that like the banks, currency exchange brokers have also gone online. And they all want your business, so do their best to make currency transfers simple and easy. You can set up an account online with them within minutes and once you have an account, you can move money with just a few clicks.

To get a quote on a transfer, you just put in the amount of currency you wish to move/buy and you’ll get a real time quote, with the rate clearly shown. If this suits you, you just click to confirm the transfer and the price is guaranteed for you. As soon as you’ve made the payment, your money will be on its way, and you receive emails to let you know of the transaction progress until it is completed.

It’s a good idea to have another currency account set up so that you can double check you’re getting the best rate when you are ready to move money. So you can get a quote and check that another broker won’t give you a better deal. It’s unlikely you’ll beat the rates though. They offer great rates because they move so much currency on a daily basis and have no storefronts and the overheads attached to that. However, it’s always good to check elsewhere and be sure you’re getting the best deal!

(Guest post)

The good news in early September was that Tenerife’s football team drew 2-2 at home to Barcelona. The less good news was that it was with Barcelona’s reserve team that Tenerife shared the second-division spoils.

Similarly, the good news for most British readers is that, since the last edition of this column, the pound has strengthened by 2%, or nearly two and a half cents, against the euro. The bad news for Tenerife natives is that their currency has weakened by -2% against sterling and by -0.5% against the US dollar over the same period.

It was not that the euro did anything wrong. News that Greece would be likely to need a third bailout did not exactly come as a surprise. And some of the economic data from Euroland were really quite respectable. For example, the three purchasing managers’ index (PMI) readings for manufacturing, services, and the commercial economy as a whole were all positive for the first time in years. A positive PMI means that, on balance, the firms responding to the survey are experiencing an upturn in business. There was an equally upbeat tone to the surveys of institutional investment manager sentiment.

But the euro had nothing to crow about and the pound had plenty. The UK PMIs were considerably stronger than those from the eurozone, a couple of them touching their highest levels in more than six years. Gross domestic product – the nation’s total output – expanded by a revised 0.7% in the second quarter; a better figure than expected and more than double the Euroland performance. Unemployment ticked down from 7.8% to 7.7% and the number of jobseekers continued to fall. The only real fly in the ointment was the data for manufacturing and industrial production. Although both were flat or up on the month, both were also lower on the year.

The ongoing improvement in the UK economic data reinforced investors’ belief that it is only a matter of time before sterling interest rates begin to head higher. Although the governor of the Bank of England has done his best to temper that expectation, the market is not as convinced as he is that it will take years for unemployment to fall below 7%. They are also distrustful of the Bank’s forecast that inflation will soon slow to 2%. The result has been to make the pound almost the best performer among the world’s dozen most actively-traded currencies over the last month, second only to the New Zealand dollar. Over the last six months the pound is indeed in the top slot, having strengthened by an average of 7.4% against a basket of currencies and by 1.7% against the euro.

Whilst current sentiment is undoubtedly in favour of the pound, there must be doubts about the extent to which it can extend its rally. For it to carry on higher the UK ecostats would have to continue to deliver surprises to the upside. History suggests that is unlikely. Buyers of the euro against the pound might well conclude that now, with the pound at its strongest level since early January, is a good time to get some euros on board, whether for a capital investment or as part of a regular payment plan.

For more updates check out international money transfer experts, Moneycorp.

Guest Post by Platinum Direct.

A brand new car doesn’t come cheap. If someone wants to pay off their entire dream car all at once, they would need to spend years saving up beforehand. Fortunately, waiting this long isn’t necessary. With a car loan, Australians can afford their dream cars much sooner.

The Basics of Car Finance Australia

A car loan is a fairly straight forward agreement. When someone finds the car he wants, he then contacts a lender and tells them how much money he needs for the car. The lender will give him the necessary funds so he can pay off the vehicle.

In exchange, the borrower will need to make monthly payments to the lender to pay off the car. The loan will charge interest so altogether it’ll be a bit more expensive than if the buyer had paid off the car in full. This is a worthwhile investment for people that want to get their cars right away.

Qualifying for a Loan

To qualify for a car loan, an applicant needs to meet the borrower’s criteria. The most important part of a person’s loan application is their credit history. Lenders use this history to see if an applicant was able to handle money responsibly in the past. An applicant will also need to show proof of their income and residence.

For someone that has little or no credit history, it can be a difficult to qualify for a car loan. One way to help qualify is to ask another person with better credit to co-sign the loan. Another way to improve the odds is by making a sizable down payment on the car.

Compare Options with a Car Finance Calculator

One of the best ways to compare car loan options is through the Platinum Direct novated lease calculator. This is an online tool that quickly calculates approximately how much car financing would cost. To use this tool, a person just needs to enter in the type of car he wants to buy and the purchase amount.

The calculator will estimate how much that person should expect to pay per month as part of their loan. This is an easy way for buyers to determine whether they could afford their dream car tomorrow.

With Platinum Direct car finance, more people are able to get their dream cars.

Today’s guest post by Lara Seers

Refinancing your home can be a great financial move in the right scenario. Unfortunately, too many Australians don’t understanding how refinancing works so they never find out how to use this option effectively. Don’t make this same mistake. Take one minute and read through this beginner’s guide to refinancing your home.

What Does Refinancing Mean?

Refinancing your home means swapping your current home loan for another one with different terms. It’s call refinancing because it changes the current financing of your property. Basically, the bank providing your new loan will pay off the original mortgage and set up a new one for you based on the changes you want. The ability to refinance gives you the change to change and update your loan terms when you see a good opportunity.

How Do I Refinance?

The refinancing process isn’t complicated. Contact your mortgage broker and lender and let them know that you are interested in refinancing your home loan. You aren’t limited to the bank currently handling your loan right now. While it’s often convenient to stick with the same company, you can refinance with whichever company you want. The lender will then walk you through the paperwork to set up a loan. You’ll likely need to pay for a valuation of your property’s market value to set up the new loan.

Most homeowners can refinance. Typically, you can’t refinance for at least a year or two into a new loan, but from there you have the option to. That’s not to say it always makes sense to refinance because there are fees involved, but most Australians at least have the options.

What are the Benefits of Refinancing?

Refinancing a home loan is often used as a way to save money on a loan by switching to a loan with a lower interest rate. This opportunity comes up when interest rates throughout Australia fall down or if you have improved your credit score since taking out the original loan. Either way means you have the chance to save on the interest cost of your home loan.

You can also refinance to change the length of your loan. This gives you a chance to pay off your loan earlier or switch to a longer mortgage with lower monthly payments. Finally, refinancing gives you a chance to cash out the equity in your property. If you’ve been making payments for several years, you own a portion of the home outright. The lender will send you a check for this value and add the cost back to your mortgage.

What are the Costs?

Refinancing isn’t free. You’ll need to pay several fees to get this process going. To refinance, you’ll need to pay for an appraisal of your house, an application fee to apply for a new loan, fees to set up the new loan, and possibly a fee for your credit check. These expenses can be significant and may outweigh the benefits of taking a refinance. Be sure to double check the numbers with the lender or your mortgage broker for the best home loans in NSW.

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This was a blog post by Lara Seers. Lara is a real estate agent for properties in Queensland. She is a professional finance writer specialising in home financing across Australia.

(This is a guest post) With life insurance comes no small amount of small print, and in that small print are many reasons why you may not get the payout you expect. While a life insurance provider sets out policy small print to lay ground rules so you get what you need from the contract, there are also ground rules in there to make sure they don’t lose out either. You can visit the Suncorp Life Protect website today to learn more about their current offerings. Here are the most common reasons life insurance claims are denied – so you know how to avoid them: Insufficient Documentation Just as the insurer needs paperwork to create your life insurance policy, they also need paperwork to process a claim. This paperwork involves a claims form and an official copy of the death certificate. The death certificate provided by the funeral director usually won’t cut it – there needs to be a legal death certificate, or the claim may be denied. Unpaid Premiums Unpaid premiums lead to expired policies. An expired policy means no payout come claim time. Material Misrepresentation This basically means lying on an application – or misrepresenting the truth. If you are found to have lied to your insurance provider, your claim could be denied – even if the lie had nothing to do with the cause of death. Common ‘misrepresentations’ include lying about age, employment (especially high risk professions), lifestyle habits (such as smoking or heavy alcohol use), dangerous hobbies, and medical history. Fraud If a life insurance provider investigates a claim and finds it to be fraudulent, the claim will be denied. Examples of life insurance fraud include, taking out a policy in someone else’s name without their permission, making up a false identity and then making a claim on that person’s “death”, and faking a death so beneficiaries can collect the payout. Suicide If someone commits suicide, the life insurance provider will not pay out on the claim. Sometimes life insurance providers will investigate to rule out suicide as the cause of death if the circumstances are suspicious. This will delay a claim. Policy Exclusions Some life insurance policies only offer limited cover, with only certain illnesses or conditions resulting in a payout. If the policy only covers accidental death, then death by illness or the treatment of an illness will not result in a payout. If the cause of death is excluded in the policy, there will not be a payout on the claim.

How to Dispute a Denied Life Insurance Claim

The first thing to do if you want to dispute life insurance claim is to find out as much information as you can. Read the small print of the policy in detail, and work out if you have been wrongfully denied. Next, you could make an appeal and deal with the insurance provider direct, or you could seek legal representation.

(Guest post by Kirsten)

For many occupations the Middle East is considered to be an attractive destination for a relocation due to the many opportunities that are available in some of the sectors. If you are currently in the planning stages of a relocation to the Middle East after you have secured a job and accommodation the next most important factor to consider is finances, both the cost of moving such how you are going to effectively afford this and how you will manage your money once you arrange in your new country of residence.

There will be a few options available to you and chances are your new employer will expect you to have a localised bank account in order to deposit your salary, in addition you will need a way of easily accessing your money in Oman without any additional international charges. The easiest way to go about this is by transferring your current US checking account to a current account in one of the international banks that serve the country. There will be a choice of current accounts available to choose from, you may find it most appropriate to start with a basic account then upgrade if it is ever required.

The current account has many advantages and helps you stay in control of your finances which gives you the opportunity to budget and keep track of your income and outgoings just as you would back at home. If you believe you will still be making payments to your home country bear the potential additional costs of this in mind, currency fluctuations and international banking charges may result in this costing more than you budgeted. If you are moving as a couple you should still be able to use joint accounts once you arrive but ensure you read all the criteria before making an application.

Typically you will need proof of identity and proof of your employment and eligibility status when you apply to open a current account in Oman and elsewhere in the Middle East.

Moving is of course stressful for most people, but doing so in a way that requires you to move across the world from friends and family can not only be additionally stressful, but also costly. Expenses such as airfares, hotels, transportation and shipping your belongings can quickly add up. It is therefore imperative that these are all carefully tracked before anything spirals out of control. Plan as much as you can in advance and use tools such as spreadsheets and apps to ensure you stay on budget.Keep out of debt and of course, don’t forget anything important!

In order to make a smooth transition look to connect with those who have already made the move as you may be able to benefit from their experiences, for example they may know the cheapest way to ship your goods to your new home or have connections with real estate agents in the area.