Savings Tips of Home Insurance

We created a list of all savings opportunities associated with Home insurance. Numerous insurance brokers contributed to this list.

Renovations: Renovating your house can lead to lower home insurance premiums, as home insurance premiums for older, poorly maintained dwellings are usually higher. Additionally, renovating only a part of your dwelling (e.g. the roof) can lead to insurance savings.

Pool: Including a swimming pool to your house will likely lead to an increase in your insurance rates since your liability and the value of your house have increased.

Pipes: Insurers prefer copper or plastic plumbing – maybe it is a good idea to upgrade your galvanized/ lead pipes during your next renovation cycle.

Shop around: Search, Compare, and switch insurance companies. There are many insurance providers and their price offerings for the same policies can be very different, therefore use multiple online tools and talk to several brokers since each will cover a limited number of insurance companies.

Make sure you have approved wiring types, and by all means avoid aluminum wirings which can be really expensive to insure. Not all insurers will cover houses with aluminum wirings, and those that would, will require a full electrical inspection of the house.

Home Insurance deductibles: Like auto insurance, you can also choose higher home insurance deductibles to reduce your insurance premiums.

Bundle: Do you need Home and Auto Insurance? If you bundle them together, most companies will offer you a discount.

New Home: Check if insurer has a new home discount, some insurers will have them.

Claims-free discount: Some companies identify the fact that you have not submitted any claims and reward it with a claim-free discount.

Mortgage-free home: When you complete paying down your house in full, some insurers will reward you with lower premiums.

Professional Membership: Are you a member of a professional organization (e.g. Certified Management Accountants of Canada or The Air Canada Pilots Association)? Some insurance companies offer you a discount.

Seniors: Many companies offer special pricing to seniors.

Monthly vs. annual payments: In comparison to monthly payments, annual payments save insurers administrative costs (e.g. sending bills) and therefore they reward you lower premiums.

Annual review: Review your policies and coverage every year, since new discounts could apply to your new life situation if it has changed.

Alumni: Graduates from certain Canadian universities might be eligible for a discount at certain Insurance providers.

Employee/ Union members: Some companies offer discounts to union members

Mortgage insurance: Getting mortgage insurance when you have enough coverage in Life insurance is not always necessary: mortgage insurance is another name for a Life/Critical Illness/ Disability insurance associated with your home only but you pay extra for a convenience of getting insurance directly when lending the money. A Term Life policy large enough to pay off your home is usually cheaper.

Drop earthquake protection: In many regions, earthquakes are not likely – you could decide not to take earthquake coverage which could lower your premiums. In BC earthquake coverage can account for as much as one-third of a policy’s premium.

Wood stove: Deciding to use a wood stove means higher premiums – Insurance companies often decide to inspect the houses with such installations before insuring them. A decision to get rid of it means a lower risk and thus lower insurance premiums.

Heating: Insurers like forced-air gas furnaces or electric heat installations. You might be paying more than your peers who have alternative heating sources if you have an oil-heated home.

Bicycle: You are thinking and buying a new bicycle about getting extra protection in case it is stolen when you leave it on the street e.g. when doing your groceries? Your Home insurance might be covering it already.

Stop smoking: Some insurers increase their premiums for the homes with smokers as there is an increased risk of fire.

Clean claim history: Keep a clean claim record without placing small claims, sometimes it makes sense to simply repair a small damage rather than claim it: you should consider both aspects: your deductibles and potential raise in premiums.

Rebuilding vs. market costs: Consider your rebuilding costs when choosing an insurance coverage, not the market price of your house (market price can be significantly higher than real rebuilding costs).

Welcome discount: Some insurers offer a so called welcome discount.

Avoid living in dangerous locations: Nature effects some locations more than others: avoid flood-, or earthquake-endangered areas when choosing a house.

Neighbourhood: Moving to a more secure neighbourhood with lower criminal rate will often considered in your insurance premiums.

Centrally-connected alarm: Installing an alarm connected to a central monitoring system will be recognized by some insurers in premiums.

Monitoring: Having your residence/ apartment/ condo monitored 24 hour can mean an insurance discount.

Hydrants and fire-station: Proximity to a water hydrant and/or fire-station can decrease your premiums.

Loyalty: Staying with one insurer longer can sometimes result in a long-term policy holder discount.

Water damages: Avoid buying a house which may have water damage or has a history of water damage; a check with the insurance company can help to find it out before you buy the house.

Decrease liability risk: Use meaningful ways to reduce your liability risk and it can result in your liability insurance premiums going down.

Direct insurers: Have you always dealt with insurance brokers/ agents? Getting a policy from a direct insurer (i.e. insurers working via call-center or online) often can be cheaper (but not always) since they do not pay an agent/broker commission for each policy sold.

Plumbing insulation: Insulating your pipes will prevent them from freezing in winter and reduce or even avoid insurance claims.

Dependent students: Dependent students living in their own apartment can be covered by their parents’ home insurance policy at no additional charge.

Retirees: Those who are retired can often get an additional discount – since they spend more time at home than somebody who works during the day and thus can prevent accidents like a fire a lot easier.

Leverage inflation: Many insurers increase your dwelling limit every year by considering the inflation of the house rebuilding costs. Ensure this adjustment is in line with reality and that you are not overpaying.

Credit score: Most companies use your credit score when calculating home insurance premiums. Having a good credit score can help you to get lower insurance rates.

Stability of residence: Some insurers may offer a stability of residence discount if you have lived at the same dwelling for a certain number of years.

Mortgage insurance: Getting mortgage insurance when you have enough coverage in Life insurance is not always necessary: mortgage insurance is another name for a Life/Critical Illness/ Disability insurance associated with your home only but you pay extra for a convenience of getting insurance directly when lending the money. Credit score: Most companies use your credit score when calculating home insurance premiums.

We created a list of all savings opportunities associated with Home insurance. Renovations: Renovating your house can result in lower home insurance premiums, as home insurance premiums for older, poorly maintained dwellings are usually higher. There are many insurance providers and their price offerings for the same policies can be very different, therefore use multiple online tools and talk to several brokers since each will cover a limited number of insurance companies.


How an Insurance Policy Really Works

Insurance is synonymous to a bunch of people sharing risks of losses expected from a supposed accident. Here, the costs of the losses will be borne by all the insurers.

Just as Mr. Adam is able to buy an insurance policy and is paying to his insurer, a lot of other people in thousands are also doing the same thing. Any one of these people who are insured by the insurer is referred to as insured. Normally, most of these people will never have any form of accidents and hence there will be no need for the insurer to pay them any form of compensation.

The insurer will pay them based on their policy if Mr. Adam and a very few other people has any form of accidents/losses.

The moment Mr. Adam pay the premium, the insurer (i.e. the insurance company) issue an insurance policy, or contract paper, to him. In this policy, the insurer analyses how it will pay for all or part of the damages/losses that may occur on Mr. Adam’s car.

If Mr. Adam wishes and buys a new car to insure the vehicle against any expected accidents. He will buy an insurance policy from an insurance company through an insurance agent or insurance broker by paying a specific amount of money, called premium, to the insurance company.

It should be noted that the entire premiums paid by these thousands of insured is so much more than the compensations to the damages/losses incurred by some few insured. The huge left-over money (from the premiums collected after paying the compensations) is utilized by the insurer as follows:

1. Some are kept as a cash reservoir.

2. Some are used as investments for more profit.

Because it concerns the security of human life and business, the issue of life insurance is a paramount one. Life insurance offers real protection for your business and it also provides some sort of motivation for any skilled employees who decides to join your organization.

Apart from the vehicle insurance taken by Mr. Adam on his new vehicle, he can also decide to insure himself. This one is extremely different because it involves a human life and is thus termed Life Insurance or Assurance.

Life insurance (or assurance) is the insurance against certainty or something that is certain to happen such as death, rather than something that might happen such as loss of or damage to property.

Life insurance insures the life of the policy holder and pays a benefit to the beneficiary. The beneficiary is not limited to one person; it depends on the policy holder.

Life insurance policies exist in three forms:

– Whole life insurance

– Term Insurance

– Endowment insurance

– Whole Life Insurance

When a person express his wish in taking a Whole Life Insurance, the insurer will look at the person’s current age and health status and use this data to reviews longevity charts which predict the person’s life duration/life-span. The extreme high premium being paid by a younger person will reduce gradually relatively with age over the course of many years.

In Whole Life Insurance (or Whole Assurance), the insurance company pays an agreed sum of money (i.e. sum assured) upon the death of the person whose life is insured. As against the logic of term life insurance, Whole Life Insurance is valid and it continues in existence as long as the premiums of the policy holders are paid.

In case you are planning a life insurance, the insurer is in the best position to advise you on the type you should take. Whole life insurance exists in three varieties, as follow: variable life, universal life, and variable-universal life; and these are very good options for your employees to consider or in your personal financial plan.

Term Insurance

If Mr. Adam dies within the age of less than 60 years, the insurance company will pay the sum assured. Mr. Adam lives up to 61 years and above), the insurance company pays nothing no matter the premiums paid over the term of the policy.

In Term Insurance, the life of the policy-holder is insured for a specific period of time and if the person dies within the period the insurance company pays the beneficiary. Otherwise, if the policy-holder lives longer than the period of time stated in the policy, the policy is no longer valid. In a simple word, if death does not occur within stipulated period, the policy-holder receives nothing.

Term assurance will pay the policy holder only if death occurs during the “term” of the policy, which can be up to 30 years. Beyond the “term”, the policy is null and void (i.e. worthless).

Term life insurance policies are basically of two types:

1. Level term: In this one, the death benefit remains constant throughout the duration of the policy.

2. Decreasing term: Here, the death benefit decreases as the course of the policy’s term progresses.

It should be note that Term Life Insurance can be used in a debtor-creditor scenario. A creditor may decide to insure the life of his debtor for a period over which the debt repayment is expected to be completed, so that if the debtor dies within this period, the creditor (being the policy-holder) gets paid by the insurance company for the sum assured).

Endowment Life Insurance

Life insurance insures the life of the policy holder and pays a benefit to the beneficiary. When a person express his wish in taking a Whole Life Insurance, the insurer will look at the person’s current age and health status and use this data to reviews longevity charts which predict the person’s life duration/life-span. In Term Insurance, the life of the policy-holder is insured for a specific period of time and if the person dies within the period the insurance company pays the beneficiary. Mr. Adam lives up to 61 years and above), the insurance company pays nothing no matter the premiums paid over the term of the policy.

In Endowment Life Insurance, the life of the policy holder is insured for a specific period of time (say, 30 years) and if the person insured is still alive after the policy has timed out, the insurance company pays the policy-holder the sum assured. If the person assured dies within the “time specified” the insurance company pays the beneficiary.


Set Your Business Targets Using Task Management Software

The task manager software is generally used by team leaders and managers to provide information related to any project. It helps to track the tasks that your team is performing. The management software is more like a modern to-do-list that allows creating tasks for all of them who are involved in the business.

With the advent of task management software this has become quite easy. The task management applications can be therefore defined as a platform, which coordinates and organizes everything together.

How can You Set Your Business Goals using Task Management Software?

The task managers help you keep track of all the tasks that your team members are performing. It constantly monitors the tasks and a few of them also sends reminders to the user regarding the work.

Apart from these, the software also prioritizes work enabling you to manage your business deadlines efficiently. They ensure that ‘First Thing First’ agenda is followed religiously in terms of managing the tasks.

Business Targets Using Task Management Software

Advantages of Using the Software

– Using this task management software ensures that the works are completed on the right time. In short, it helps you organize your professional work and increase efficiency greatly.

– One of the biggest advantages it offers is that it boosts team coordination.

– This software can be used to lessen the amount of errors in work by constant progress tracking.

With the advent of task management software this has become quite easy. The task management applications can be therefore defined as a platform, which coordinates and organizes everything together. The task manager software is generally used by team leaders and managers to provide information related to any project. The management software is more like a modern to-do-list that allows creating tasks for all of them who are involved in the business. The task managers help you keep track of all the tasks that your team members are performing.


Various Types of Task Management Software

Thus you will be able to ensure that everybody knows exactly what they will need to do and you will also be able to hold them accountable if tasks do not get done correctly. There are so many different task systems out there that it can become very confusing to choose from and you might even require a task management system just to know which one to invest in. Here is a look at a few different types of task management software systems.

Task software sends out automated tasks to all of your employees showing them what they will need to do. These systems are also great in that employees will be able to easily search tasks to see what has been done, and they will also be constantly reminded of what they need to do as their tasks will always be visible to them.

If you are planning to organise your company and get things to flow smoother and be more efficient than there is only one option for you, and that is to get task management software.

Free Task Management Software

Because task management software can be very expensive, it is always a good idea to first get a free trial version to see if it will truly be of value in your company.

For obvious reasons free task management software is one of the most popular forms of task software out there. This does not mean that it is the best. A lot of people use free task software for various reasons, and most will download these free versions just to get a feel for the actual product and to see if they will actually use it in their daily lives.

Task Management Software Apps

On the other hand these types of apps can still be great to just play around with and to see what they can do. This will also help to let you know how the real programmer will influence your work and for what it can be used for.

There are also a lot of task software apps that you can download on your computer or phone. This can be very useful to have task software on your phone, but on the other hand these apps are very small and will thus nit have all of the functions that you would get from a product that you will have to pay for.

Paid for Task Management Software

More often than not the task management software that you have to pay for will be the best ones on the market and will offer you all the tools that you need to get your business on track and productive. Then again they also cost a lot of money and it is not every small company that will be able to afford it. Thus those that can afford it will have a major advantage over their competition, and it might even mean the difference between success and failure.

For obvious reasons free task management software is one of the most popular forms of task software out there. More often than not the task management software that you have to pay for will be the best ones on the market and will offer you all the tools that you need to get your business on track and productive.

There are so many different task systems out there that it can become very confusing to choose from and you might even require a task management system just to know which one to invest in. Here is a look at a few different types of task management software systems.


Needs of a Task Management Software

When people were using Outlook, good task and project management software was hard to find a few years ago. Nowadays productivity has become almost an obsession of geeks everywhere, so the increasing request for such tools generated a large base of good task and project management solutions. There are a lot of choices to help manage the tasks, ranging from standalone applications to web-based services.

Many people find themselves at a certain point in their life looking for a task management software to help them refocus and keep their finger tips on what is important. Task management products organize, schedule and ensure that tasks get done on time.

Task Management Software

What specifically are users expecting?

Most of them are actually looking for a personal organizer application to put some order in their messy and busy life. These personal organizers generally take the form of the so called “To Do List” applications where users create a list of tasks for which they set a start date, some deadlines and a priority – something very simple.

The Getting Things Done (GTD) approach

Most of the to-do-list applications these days adopt, to one degree or another, the GTD approach to task management according to the work-life management system by David Allen that provides concrete solutions for transforming overwhelm and uncertainty into an integrated system of stress free productivity. Task management or task tracking software is more than just a to-do list. In a business many of the tasks are collaborative and require multiple team members to fulfill several tasks in a single project.

Why do we require a task management application?

Every day we spend most of the time on low but urgent priority tasks while the most important ones get delayed until another day. Basically an effective task management software must give you the best way to find these top 20% of important tasks for a effective project management process. Task management apps should flow, should make using them easier than writing things down on a piece of paper.

Benefits of a task management tool:

1. Helps you to organize, assign and prioritize tasks.
2. Allows you to establish milestones and goals and to manage deadlines
3. No need to remember all tasks and more productivity using reminders
4. Entire work integration, effort delegation for increased efficiency and reduced costs
5. The breakdown of complex tasks into smaller deliverables that can be controlled with minor difficulty

A task management software is an essential component for organizational and business operations and can make managing the project simpler.

Task management products organize, schedule and ensure that tasks get done on time. Most of the to-do-list applications these days adopt, to one degree or another, the GTD approach to task management according to the work-life management system by David Allen that provides concrete solutions for transforming overwhelm and uncertainty into an integrated system of stress free productivity. Task management or task tracking software is more than just a to-do list. In a business many of the tasks are collaborative and require multiple team members to fulfill several tasks in a single project. Basically an effective task management software must give you the best way to find these top 20% of important tasks for an effective project management process.


Successful Task Management

ProjectThe term ‘Project’ generally specifies a time-bound set of actions

The term ‘Project’ generally specifies a time-bound set of actions, generally meant for the future, starting with today, and based on the experiences of the past, and right from historical times, the art of successfully handling a project has typically been witnessed in Man’s conquest of new lands, wars, area and even contemporary innovation. In recent times, that has changed into a science that can be discovered, mastered and practiced in any field or discipline by the application of some simple ground guidelines, that can make sure effective job conclusion by anybody in any circumstance.

The Nucleus: Any project is centered around an objective, which might germinate from an idea or a dream to meet a mission, and efforts are directed to accomplish the very same within a specified time frame, – that is the essence, and without which, no rewarding activity is possible.

The Origin: One bachelor or a group who are the brains/sponsors behind the entire thing, perform the important actions of conceiving the project plan, and provisioning of the needed inputs/resources and do an exceptionally critical job in the developmental stages, and continue to do so, till the life time of the project.

The Person: Goals, goals and ideas are inanimate, however need a warm blooded human to carry out the sponsor’s plan, by manipulating the offered resources, in accordance with the specified amount of time, – he or she is none aside from the “job manager” who embodies both the key functions of authority and duty. At times the originator/sponsor could also play this part, and well.

The Execution: The job manager and team are empowered to draw their motivation from the task plans conceived by the pioneers, and establish sub-plans to meet each and specific area/discipline, however keeping in focus the primary project’s goal. They need to utilize basic tools like Gantt charts, spreadsheets, and more involved strategies and tracking systems to note, tag, review and offer the needed inputs at appropriate stages, in effect manage the resources within the time and spending plan.

Project Manager-the Omnipotent CPU: The circulation of much needed resources, consisting of materials and individuals, has to be coordinated through managers originating from various disciplines, and here the task manager plays the crucial role of the CPU, to get the task case based on strategy. Here “communication” between all the taking part players, takes the leading place among the activities and guarantees dissemination of pertinent details on vital performance criteria, such as time and amount targets, monetary ramifications, as well as on failures to enable ideal correction en path.

Event of Success: Project leaders and groups have to be motivated, and hence any task that reaches successful conclusion needs to be acknowledged, and celebrated.

The critical finished job analysis: Projects can reach conclusion, in some cases as per strategy, or often much brief of the plan, however in each circumstances a thorough analysis to evaluate the spaces between plan and actuals, forms a really important activity, and can throw substantial light on deficiencies in planning, execution and possible remedies for the future tasks.

The Essence: Successful job management is the conclusion of the efforts of a number of people which includes both the originators and the employee who managed the job, and therefore needs to be studied and executed at all phases of the job, till completion and even thereafter.


Personal Success With Project Management Techniques

Task management is typically thought of as a business or organisational term, and it is real to say that task management techniques are generally used to “significant” projects within an organisation. For instance, the setup of a new computerised accounting system would (or should) be managed as a task; the style and develop of a brand-new airplane would be handled as a project; a major restructuring of a company or organisation need to be managed as a task.

Prior to the time I had my own business, I was associated with job management in some rather different types of jobs. Those experiences were indispensable, with each project being rather complicated in its own right, and affecting many people in numerous departments and disciplines. Their day-to-day working lives were to alter; their working practices were to be changed. As the technical, administrative, organisational, practical and monetary elements of each job, change itself had actually to be handled.

Something that is constantly present in any project is the personal component. The successful result of a job does not just depend on the planning and application of the task detail. It will constantly depend upon the people impacted and the people on the job team; how those 2 sets of people communicate is likewise important, and particularly how the task group will deal with concerns, or even outright opposition, of the individuals, or groups of people, who will be straight impacted by the job on completion.

From observation and experience, if the “people aspect” of a job is not handled well, the job is at threat of hold-up or even total failure. The individuals affected do have to be embraced as an integral part of the project. For this reason, I would spend as much time, as a job leader, in handling the workers to be affected by the job’s implementation, as I would with employee, and technical and preparing concerns.

It is because of this experience that I have actually got used to the concept of job management, and individuals impacted, being carefully associated. I then began to wonder whether, in a non-project situation, individuals might make use of job management techniques and principles, to manage essential elements of their individual lives.

My thoughts turned to individual success: if an enthusiastic individual had a vision of success, could they not take that vision, treat it as a task, plan exactly what is had to accomplish that vision, and then carry out that job similar way a business would with a job to set up a brand-new computer system? A brand-new computer system started out as a vision of someone within that company or organisation.

At the very least, some lessons from task management might be of help to an individual who has a desire to succeed, whatever that success may require. The path to that ultimate success can be broken down into various aspects, much as the setup of a brand-new computer system can. Surely a plan to accomplish success can be devised and executed in similar method? And after that managed appropriately?

In Part 2, I will consider exactly what lessons can be gained from project management in your very own “Project Success”.

Prior to I had my own business, I was involved in project management in some rather different types of projects. It will constantly depend on the individuals impacted and the people on the task team; how those 2 sets of people interact is likewise critical, and specifically how the job team will deal with issues, or even straight-out opposition, of the individuals, or groups of people, who will be directly impacted by the job on conclusion.

From observation and experience, if the “individuals aspect” of a job is not managed well, the task is at danger of hold-up or even total failure. For this factor, I would invest as much time, as a project leader, in dealing with the personnel to be impacted by the project’s execution, as I would with group members, and technical and planning issues.


Charge Card Are Considered To Be One Of The Most Important Monetary Tools In Modern-Day Society

Not just are certain people getting to take advantage of credit cards, even companies, small and big alike, are now using charge card to provide monetary help to their organisation on times they require it most.

If you are one of the many company owner in the world, having company charge card can certainly be an asset to your service. The primary advantage that company credit cards can supply your organisation is that it will enable to help your business on its financial needs with greater ease. And, it will also bring you a lot of savings if you utilize it. Here are a few of the important things you have to understand when selecting a business credit card in order to make certain that you pick the best one for your organisation.

Simply like ordinary credit cards, there are quite a number of business credit card uses readily available. When picking a company credit card, it is very important that you determine exactly what you will mostly use it for. Try asking yourself what kind of purchases you will make with the business charge card. By asking this concern, you will have the ability to know what sort of business charge card you ought to pick. For example, if your business will require you and your executives to travel a lot, then you should select a company charge card that provides collecting points or air miles. Or, you can also get a gas charge card if you and your organisation partners often use cars and trucks for travel.

After deciding of selecting the type of service credit card to get, the next action is to search for it. Like looking for a regular credit card, you need to likewise select a business charge card basing on the features it provide. It is constantly essential to select a company charge card that provides the most affordable interest rate. You may come throughout a company credit card that does not have any interest rate if you are fortunate enough. Business credit card offers like this will typically have a yearly cost that can cost as high as 200 dollars. If you can’t discover an interest free service charge card, choose the most affordable possible fixed rate of interest.

Rewards are also a crucial function you must try to find in a company credit card. In service charge card, you will normally see advantages, such as air miles, office materials discount rates, and gas discount rates. You likewise need to know exactly what shops are taking part with the business credit card reward offer. Attempt to look for shops, hotels, airline companies, gasoline station, and etc. that you generally do business with in order to maximize the points you make on the business charge card.

Another feature you should search for in a business credit card is the balance transfer feature. If you have an impressive balance in another charge card account, you can combine the balance in your business charge card. This is a great loan conserving feature that you certainly would want to make the most of. Also, not all company credit cards provide this sort of function. By looking around, you will have the ability to select from the very best service credit card offers. If you do have to provide your department heads a business credit card, you may ask for a daily online reporting to keep an eye on the purchases made.

If you are one of the many service owners in America, having company credit cards can certainly be an asset to your company. The primary advantage that service credit cards can supply your company is that it will allow to help your company on its financial requirements with higher ease. Here are some of the things you require to know when selecting a company credit card in order to make sure that you choose the ideal one for your organisation.

If your organisation will need you and your executives to travel a lot, then you must select a business credit card that offers collecting points or air miles. Attempt to look for stores, hotels, airlines, gas stations, and etc. that you generally do service with in order to make the most of the points you make on the company credit card.


Get A Home Loan With Bad Credit

Many People Ask “How Can I Get A Home Loan When I Have Bad Credit?”

The past 18 months has seen the demand for bad credit home loans skyrocket. In addition, all types of poor credit loans are seeing increasing demand. Because many of the online bad credit lenders are new you must make sure that you check them out carefully before giving them any of your personal information.

If you’re considering a poor credit home loan the first place to look is at FHA loans through Freddie Mac and Fannie Mae.. These loans are made for those with less than perfect credit and you’ll often get better rates from them on an FHA loan than you would from a traditional lender like a bank or credit union. They will also give you a much better deal than you’ll get on bad credit home loans through and online lender.

The bad credit lenders will make sure that all collection accounts have been paid and that there are no recent bankruptcies. They will also look at your current payment history on your mortgage, car loans and credit cards and these should all be current with no late payments in the past year.
Then getting a bad credit home loan should be easy, if you have all of these things covered. They can also be a great way to become a home owner and increase your credit score for the future.

One thing that people don’t realize is that getting bad credit home loans can sometimes lower your monthly payments and provide relief from other high interest debts like credit cards. They also don’t think about the other benefits that come with bad credit home loans such as the boost that the new loan will give to your credit score. Just by itself the credit repair is justification for taking a poor credit loan. These loans are made for those with less than perfect credit and you’ll often get better rates from them on an FHA loan than you would from a traditional lender like a bank or credit union. The lower your credit score the higher the interest rate will be on the loan, so you may be better off waiting several months to a year while working on improving your credit score before you apply for a bad credit home loan.

With the internet being so pervasive these days it’s easy to do all of your bad credit home loan research online and save yourself loads of time. It’s so easy to go online to compare the individual bad credit lenders and see their fees, costs and interest rates at a glance. If you’re considering bad credit home loans make sure that you research well and check out a variety of lenders to find the best rates and fees for the loan.

One thing that people don’t realize is that getting bad credit home loans can sometimes lower your monthly payments and provide relief from other high interest debts like credit cards. They also don’t think about the other benefits that come with bad credit home loans such as the boost that the new loan will give to your credit score.

On the other hand, there are some bad credit mortgage specialists who will work with you even if your credit score is as low as 560. The lower your credit score the higher the interest rate will be on the loan, so you may be better off waiting several months to a year while working on improving your credit score before you apply for a bad credit home loan.


The Saying “Lease What Depreciates – Buy What Appreciates” Is So True

Why Your Company Should Lease, Not Buy Your Equipment

Assets are depreciated at a pre-set rate ranging anywhere from 10% to 50%, depending upon which class they fall within. In year 1, the amount of depreciation falls under the 50% rule which means that only one half of the depreciation can be used as an expense. The net effect is a very slow write off for tax purposes, and an erosion of the net worth of the company over time.  A lease will correct the problem.

Will companies use leasing as a means of equipment acquisition? The purpose of this article is to take a closer look at the statement made by Mr. Getty many years ago, “Lease What Depreciates – Buy what Appreciates”, and look at ways of acquiring equipment from a different perspective.

“Buy What Appreciates” simply put, means owning assets which increase in value. Prudent business people generally live by the Rule of Increase which relates to continual growth. Growth in revenues, growth in company size, and growth in net worth.

Will companies use leasing as a means of equipment acquisition? The purpose of this article is to take a closer look at the statement made by Mr. Getty many years ago, “Lease What Depreciates – Buy what Appreciates”, and look at ways of acquiring equipment from a different perspective.

Many years ago, the great John Paul Getty, who at one time held the title of being the riches man in the world, made the statement, “Lease What Depreciates – Buy what Appreciates”, as a basic philosophy that prudent businesses should follow. Most of us in the leasing industry keep the statement in our arsenal as a method of convincing companies to lease their equipment.

It must be pointed out that if an equipment acquisition is secured by a bank loan or a line of credit, they truly do not own the equipment until the final payment is made. They do, in fact hold title to the equipment, and show the depreciated value as an asset, but the equipment is not owned until the loan is paid out in full.

“Lease What Depreciates”, refers to shifting the ownership of any asset which decreases in value over time to a 3rd party, otherwise known as a leasing company. From an accounting point of view, leased equipment is considered a form of off-balance sheet financing meaning that it does not appear as a liability on the balance sheet.

Very few assets which are revenue producing, and contribute to the growth of a company, appreciate in value. A piece of production equipment costing $100,000 today, may only be worth $60,000 or $70,000 a year from now. The equipment may, in fact, reduce costs by 20%, and increase efficiency by 30%, however, if purchased outright, will actually reduce the net worth of the company over time.

“Lease What Depreciates”, refers to shifting the ownership of any asset which decreases in value over time to a 3rd party, otherwise known as a leasing company. From an accounting point of view, leased equipment is considered a form of off-balance sheet financing meaning that it does not appear as a liability on the balance sheet. They do, in fact hold title to the equipment, and show the depreciated value as an asset, but the equipment is not owned until the loan is paid out in full.

What Does It Really Mean? Let’s dissect the statement into its two components and discuss why it make total sense.

The business model of most leasing companies is one which is driven by adding multiple assets to the financial statements, thus being focused on huge depreciation expenses. Leasing companies thrive on adding assets to their books, and in turn fill a great need for organizations acquiring assets.