Friday, May 9, 2014
Optimum financing
Tuesday, April 13, 2010
a Typical institutional loan
We regularly receive a blank cheque in the mail with a invite to phone with your ID ,prove of income above 3000 and a promise of R150 000 over upto 7 years at a compound interest rate of between 20 and 30% pa. Add a service fee of R57 00 per month and life cover at R2 to R5 per month per thousand . A clean credit record and you have a deal
Saturday, January 30, 2010
Its not your money
Extracts from solfests blog
“The earth is the Lord’s, and all it contains.” Psalms 24:1
“What do you have that you did not receive?” I Corinthians 4:7
It’s not your money. You are the “professional” manager placed by God to handle all that it his.
How are you doing?
Money can form a barrier between man and God. By acknowledging that all we have is a gift from God and then managing his resources in a way that glorifies him we can remove that barrier and truly live a life of contentment.
Learn.
Think.
Pray.
Act.
Now just do it
“The earth is the Lord’s, and all it contains.” Psalms 24:1
“What do you have that you did not receive?” I Corinthians 4:7
It’s not your money. You are the “professional” manager placed by God to handle all that it his.
How are you doing?
Money can form a barrier between man and God. By acknowledging that all we have is a gift from God and then managing his resources in a way that glorifies him we can remove that barrier and truly live a life of contentment.
Learn.
Think.
Pray.
Act.
Now just do it
Donate
Extracts from solfests blog
Honor the Lord with your wealth, with the firstfruits of all your crops; then your barns will be filled to overflowing, and your vats will brim over with new wine.” Proverbs 3: 9 -10
“One man gives freely, yet gains even more; another withholds unduly, but comes to poverty.” Proverbs 11:24
The greatest return on investment you can receive comes from giving money away. You have achieved financial peace; money no longer controls you.
How should the haves in this world lend a hand to the have nots? The old saying, give a man a fish you feed him for a day, teach a man to fish you feed him for a lifetime, is undeniably true.
Giving people money for nothing destroys their self worth and creates generational poverty.
Economies are created and fueled by commerce and commerce requires capital. This is where the haves must step in.
Honor the Lord with your wealth, with the firstfruits of all your crops; then your barns will be filled to overflowing, and your vats will brim over with new wine.” Proverbs 3: 9 -10
“One man gives freely, yet gains even more; another withholds unduly, but comes to poverty.” Proverbs 11:24
The greatest return on investment you can receive comes from giving money away. You have achieved financial peace; money no longer controls you.
How should the haves in this world lend a hand to the have nots? The old saying, give a man a fish you feed him for a day, teach a man to fish you feed him for a lifetime, is undeniably true.
Giving people money for nothing destroys their self worth and creates generational poverty.
Economies are created and fueled by commerce and commerce requires capital. This is where the haves must step in.
Be content
Extracts from solfests blog
“Therefore do not worry about tomorrow, for tomorrow will worry about itself. Each day has enough trouble of its own.” Matthew 6:34
“For we brought nothing into the world, and we can take nothing out of it. But if we have food and clothing, we will be content with that.” I Timothy 6:7-8
Fear is not an option.
We live with the knowledge of God’s hand on our life, if we do the work we have nothing to fear. We have been given all the resources we need to succeed. It is simply a matter of applying them in our lives.
Learning enough to take control of our financial lives gives us the confidence that we are on the right track. Knowing that the basis of our chosen path comes from God gives us the strength to not get derailed.
While we are encouraged to seek advice from others we are not told to simply hand over all responsibility to someone else. When it comes to investing people want to hand off all responsibility which can lead to disaster. This allows people to blame someone else if things go wrong. We have many examples of things going very wrong when someone blindly hands over total responsibility to someone else.
It's your life, it's your family, and it's your responsibility. If you don't know, learn.
Then relax.
“Therefore do not worry about tomorrow, for tomorrow will worry about itself. Each day has enough trouble of its own.” Matthew 6:34
“For we brought nothing into the world, and we can take nothing out of it. But if we have food and clothing, we will be content with that.” I Timothy 6:7-8
Fear is not an option.
We live with the knowledge of God’s hand on our life, if we do the work we have nothing to fear. We have been given all the resources we need to succeed. It is simply a matter of applying them in our lives.
Learning enough to take control of our financial lives gives us the confidence that we are on the right track. Knowing that the basis of our chosen path comes from God gives us the strength to not get derailed.
While we are encouraged to seek advice from others we are not told to simply hand over all responsibility to someone else. When it comes to investing people want to hand off all responsibility which can lead to disaster. This allows people to blame someone else if things go wrong. We have many examples of things going very wrong when someone blindly hands over total responsibility to someone else.
It's your life, it's your family, and it's your responsibility. If you don't know, learn.
Then relax.
Grow the money
Extracts from solfests blog
"The man who had received the five talents went at once and put his money to work and gained five more. So also, the one with the two talents gained two more. But the man who had received the one talent went off, dug a hole in the ground and hid his master's money.” Matthew 25:16-18
Risk is not a four letter word. If we apply all the knowledge we have achieved we can multiply wealth.
That is all the knowledge, not partial knowledge, not greed, and not hearsay.
Investing money for your future has a few simple rules that will insure success. Always be invested, never try to time the market, contribute on a regular basis, and don't touch the money until you retire.
There are two obstacles that must be overcome in order grow our "talents"; procrastination and inflation.
You simply must start. Start now. Between you and your employer a minimum of 10% of your gross salary must go into "appreciating" assets on a regular basis coinciding with your pay cheque.
That's it, your done, see you in 10, 20, 30 years. That was easy.
Those "appreciating" assets can be stocks, bonds, real estate, all of which can be done via small monthly contributions into managed funds.
Inflation is the silent killer that erodes our buying power each and every month. If you are holding money in some sort of "safe" savings account you are not earning enough interest to keep you ahead of the inflation rate. Your safe investment will be exposed over time just as if you dug a hole and hid your money.
You are going to need around $500,000 to $1,000,000 to retire on depending on government, company pension plans, and your retirement spending plans. If you think this sounds impossible, don't worry it isn't.
If you start at the age of 25 and contribute $100 on a bi weekly basis until you are 65 with a 10% rate of return (all equity average) you wind up with $1,200,000. That's without increasing your contribution amount ever in the 40 year period.
Start. Start now. Hurry. Hurry faster.
"The man who had received the five talents went at once and put his money to work and gained five more. So also, the one with the two talents gained two more. But the man who had received the one talent went off, dug a hole in the ground and hid his master's money.” Matthew 25:16-18
Risk is not a four letter word. If we apply all the knowledge we have achieved we can multiply wealth.
That is all the knowledge, not partial knowledge, not greed, and not hearsay.
Investing money for your future has a few simple rules that will insure success. Always be invested, never try to time the market, contribute on a regular basis, and don't touch the money until you retire.
There are two obstacles that must be overcome in order grow our "talents"; procrastination and inflation.
You simply must start. Start now. Between you and your employer a minimum of 10% of your gross salary must go into "appreciating" assets on a regular basis coinciding with your pay cheque.
That's it, your done, see you in 10, 20, 30 years. That was easy.
Those "appreciating" assets can be stocks, bonds, real estate, all of which can be done via small monthly contributions into managed funds.
Inflation is the silent killer that erodes our buying power each and every month. If you are holding money in some sort of "safe" savings account you are not earning enough interest to keep you ahead of the inflation rate. Your safe investment will be exposed over time just as if you dug a hole and hid your money.
You are going to need around $500,000 to $1,000,000 to retire on depending on government, company pension plans, and your retirement spending plans. If you think this sounds impossible, don't worry it isn't.
If you start at the age of 25 and contribute $100 on a bi weekly basis until you are 65 with a 10% rate of return (all equity average) you wind up with $1,200,000. That's without increasing your contribution amount ever in the 40 year period.
Start. Start now. Hurry. Hurry faster.
look at your money
Extracts from solfests blog
“She considers a field and buys it; out of her earnings she plant a Vineyard.” “She sees that her trading is profitable, and her lamp does not go out at night.”
Proverbs 31:16, 18
Planning, researching, considering, monitoring, tracking, and recording, are all traits that create, preserve, and growth wealth.
Businesses that are publicly traded are required by law to report to their owners on a quarterly basis. In that report they tell us how they did compared to last year, and compared to the plan they laid out at the start of the year.
There is no business more important than the business of you and your family, so the least we can do is report to ourselves on an annual basis.
If you plan to eventually become self sufficient, that is no reliance on a job for income, you need to start tracking your progress, or lack thereof, immediately.
This is a very simple process that can be done on paper or with a spreadsheet. You list your assets (appreciating assets only) and your debt (all debt). You then subtract your debt from your assets and you find out how much you are worth.
If this number is negative you have some work to do. You must do this on an annual basis on the same date each year. The goal is to make sure your net worth is increasing each year.
The other document that should become critical to your existence is a spreadsheet used for tracking expenses. This is easy once you have it set up, as you can add items into a cell and have the spreadsheet do the math for you.
The only way to find out how much you spend, and where you spend it, is to track it. Of all the methods I have tried I have found with online banking and a spreadsheet it is a very quick, easy, and relatively painless process.
This is your life, you should be concerned.
“She considers a field and buys it; out of her earnings she plant a Vineyard.” “She sees that her trading is profitable, and her lamp does not go out at night.”
Proverbs 31:16, 18
Planning, researching, considering, monitoring, tracking, and recording, are all traits that create, preserve, and growth wealth.
Businesses that are publicly traded are required by law to report to their owners on a quarterly basis. In that report they tell us how they did compared to last year, and compared to the plan they laid out at the start of the year.
There is no business more important than the business of you and your family, so the least we can do is report to ourselves on an annual basis.
If you plan to eventually become self sufficient, that is no reliance on a job for income, you need to start tracking your progress, or lack thereof, immediately.
This is a very simple process that can be done on paper or with a spreadsheet. You list your assets (appreciating assets only) and your debt (all debt). You then subtract your debt from your assets and you find out how much you are worth.
If this number is negative you have some work to do. You must do this on an annual basis on the same date each year. The goal is to make sure your net worth is increasing each year.
The other document that should become critical to your existence is a spreadsheet used for tracking expenses. This is easy once you have it set up, as you can add items into a cell and have the spreadsheet do the math for you.
The only way to find out how much you spend, and where you spend it, is to track it. Of all the methods I have tried I have found with online banking and a spreadsheet it is a very quick, easy, and relatively painless process.
This is your life, you should be concerned.
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