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Jeremy Schalf

Corporate Banking and Its Products

Products under Corporate Banking

Project Loan: Commercial banks offer project loan to export-oriented customers for setting up new projects as well as for expansion of an existing projects. To finance costs of building, machinery, equipments, vehicles and other fixed expenses may be the objective of project Loan. Project Loan is provided to the customers in the form of hire purchase, lease finance, loan general etc.

Working Capital Finance: Business enterprises engaged in manufacturing, trading service business are eligible to avail working capital loan to meet day-to-day expenses for processing of manufacturing and selling product and services. Working capital products include both fund and non-fund based products. Fund-based working capital products include secured over draft, cash credit, packing credit, short-term loans payable on demand bank guarantees. Non-fund based products include bank guarantee; performance guarantees and bid bonds are also supporting the business of our customers.

Lease Financing: Lease financing became a thrust sector for individual and small enterprise besides medium and large enterprises. Commercial bank has been providing lease finance facility to its customer for acquisition of manufacturing and service equipments for all major industrial sectors.

Syndication Finance: commercial banks have been financing large-scale projects under syndication arrangement to raise and meet huge credit need of a company. This arrangement allows the banks to share expertise among them and diversify its credit risks. Syndicated loan as loans extended by multiple banks where the overall credit involved exceeds an individual lender’s legal lending or other limits. It is made available by a group of financial institutions in pre-defined proportions under the same credit facility following common loan documentation formalities.

Trade Finance

  • Letter of Credit: Business Enterprises can avail Non-funded facility for import and procurement of raw materials, machinery, equipment, merchandise item.
  • Loan against Imported Merchandize: Business Enterprises engaged in import merchandise can avail working capital for retirement of import documents.
  • Loan against Trust Receipt: Business Enterprises engaged in import of merchandise can avail working capital for retirement of import documents.

Greater Limits for the Perfect Writing Plans

Once you have your problem and you have advanced on your research, you can make the plan. Depending on the institution in which you study, you will receive instructions on the type of plan to set up. Argumentary dissertation plan, explanatory essay plan, narrative dissertation plan, there are many possibilities.

The plan is the simplest part, we ask them to devote the first part to a review of the literature, the second part is dedicated to the field, and the third part consists of recommendations. Then you have to make a conclusion with an opening. The simplest plans are the most effective.

To compose your plan, do not hesitate to leaf through the memoirs written by former students of your class. You will give ideas and you will realize what can (or not) be done.

And if you are more of a “visual” type, you can also build the skeleton of your memory using visual plans, using the mind mapping technique. It will allow you to organize your ideas well. In particular, you can use it to cross out the written parts and report on your progress. Now that there is no chance for myadmissionsessay.com fraud  you can actually come up with the best deals.

Perform fieldwork

Most of the time, when you carry out a research dissertation, you will have to do a “field” part in order to have quantitative data to exploit. This part is also often called the “empirical part” of the memoir.

We have to think carefully about its methodology so that the field on which we are going to be well representative of the various points of view on the subject, specifies the expert. Students may have a tendency to go into an area and think that it necessarily happens everywhere. We tell them that they must cross their research: in different sectors, in different companies, with executives, employees, and managers. The method must be representative of the different trends.

This will allow you to verify the hypotheses you have made. By carrying out this empirical part, you will be able to make field observations and thus have a more in-depth analysis of your subject.

For the sample of people to be interviewed, everything depends on the mother population. If you interview 500 people and your study covers the entire earth, the bias will be large. With the quota method, we can have a representative sample. We recommend smoothing out a certain number of results, considering that they should not be taken literally. Students must always be careful and aware of all of this. They must not always draw generalities, they must specify the limits of their sample, show that they are aware of it.

Then comes the writing part

You have your problem, your plan, your hypotheses, your documentary research, and your fieldwork are over. You just have to articulate everything and write your memoir.

Securing Financial Future

Questions to Raise

When dealing with an investment broker, advisor, or agent, how certain questions are answered can point out reasons not to work with those individuals. For instance, asking them what methods of compensation they work with, fee-based, or commission, as such if they outright refuse to discuss or even hurry through their explanation, this gives just cause to walk away immediately. The thing to keep in mind is that as an investor, you are the boss, which means, that the adviser works for you and should be completely transparent about how they are compensated for their services.

Looking into this aspect further, if they receive payments via commissions from selling products they need to prove there is no conflict of interests. What may occur is they would try to entice an investor to spend money on something that provides a higher commission for them. This is one issue when dealing with brokers or advisers that work with third party entities. It is their intent, if they are legitimate to put their customers’ needs first. While most planners design their services to receive payment for advice it is best to keep control over the amount of money paid for a given financial plan. What should work is having a plan separated into smaller sections where the outcome is easily visible. This way it puts a limit on the amount of monies transferred into the financial plan for the onset instead of making a one-time larger investment on a plan that shows little to no gain.

Always Stay in the Loop

It will pay to stay on top of anything and everything an advisor is doing. Always make sure you understand any pros or cons about any type of suggested investments and ensure you keep a close eye on the ‘paper trail’ and that you scrutinize all billing statements and account balances they provide. Additionally, if these reports are received only from the advisor, ask why, there should be reports coming from other sources, such as the companies, mutual funds, or annuities that are part of your portfolio. If not, then something is being hidden from you.

As far as what they are suggesting what, in their minds, is a good investment, they should allow you plenty of time for you to research it on your own if you feel the need. Additionally, it helps for them to explain why, how and what makes their decision on a given investment viable for your portfolio. If they attempt any form of pressure this indicates there is something they are not telling you. The breakdown of your portfolio should be understandable in addition to the amount of fees that go for the advisor’s compensation in addition to where these fees are coming from.

Part of your discussion of an investment strategy should include real time information about the trades that occur germane to the management of your portfolio. This means that they disclose all gains and losses that impact the integrity of the investment fund.

It is a Case of Buyer Beware

Common sense dictates that when money is involved, it behooves us to investigate all avenues of a given situation before making any final decisions on where the money goes. The favorite targets for unscrupulous financial planners, brokers, or advisors are the elderly and the uninitiated to the investment markets. Therefore, never act on emailed investment options or those received through snail-mail, (your mailbox). Always ask probing questions into the reasons certain investments out weigh others, and always read any paperwork put in front of you before you sign it. Remember, investing in anything is risky and nothing is guaranteed specifically anything to do with mutual funds, stocks, bonds, annuities, or even real estate. Do your due diligence before hiring a financial planner, advisor or agent. It can save you money

Ways to Teaching Your Young Child About Money

What is money? Children quickly learn mom and dad use money to buy stuff, but they usually lack the understanding of where that money comes from.

  • It can be helpful to give them an example of bartering. Explain that long ago, a person might have traded a horse for a cow. But having money allows someone to buy a cow, even if that person doesn’t want a horse in exchange.
  • Discuss with your children about how people have jobs and work so they can earn money to pay for a house, car, clothing, entertainment, and other expenses.
  • Make the point that money is a medium of exchange. You have likely exchanged a certain number of hours of your time to earn $100. You then spend that $100 on goods or services worth $100.
  • Show them all the different types of money, including coins, and explain the values.

Let them earn money. This is the best way to show them how money works. Let’s dispel the misconception that money magically appears from the ATM. Give your children small jobs to do in exchange for money. Explain to them how your family earns money.

Goods and services are exchanged for money. Explain to your child that money is exchanged for value, and that value is either a good or a service.

Give some examples of goods. Furniture, toys, games, and food are some examples of goods. Ask them to name a few more.

Also give examples of services. Your state pays teachers for providing a service. Paying someone to paint your house is another type of service. A doctor also provides a service to his patients.

Explain that money isn’t normally just given to an adult. Money must be earned by providing a service through some type of job.

Needs vs. wants. It can be helpful to explain to your child the difference between needs and wants. Give them a list of each. Make a game out of it. See whether they can guess whether an item is a need or a want.

  • Some examples of some needs include food, water, clothes, home, and heat.
  • Wants would be toys, eating out at a restaurant, magazines, and owning a television. These are items a child can relate to.
  • Explain that needs always come first and sometimes there isn’t enough money to buy everything you might want. Sometimes you have to choose.

Open a savings account in your child’s name. Most banks have special savings accounts for children with minimal fees or none at all.

  • Discuss with your child why people keep their money in banks.
  • Explain how interest works. Encourage your child to continue building their savings account so they can earn more interest.
  • Go over the monthly statements with your child so they have the opportunity to develop an understanding of the process.

Teaching a young child about money is a great first step to ensuring a life with minimal financial worries in adulthood. Most financial issues can be avoided by having good habits and an appreciation for money. Teaching your child about finances is one of the best things you can do for them.

Being Broke and Being Poor

The misunderstanding and abuse also reflect in their financial attitudes. Since financial attitudes determine financial altitudes, most people are hardly able to achieve any meaningful financial success all through their adult life, despite being very hardworking, because they have wrong financial notions, and deceptive financial mentalities and philosophies. They just cannot excel in their finances because their mindsets are hostile to the accumulation of material riches and wealth.

This is why it is important that you ascertain that your mindset is hospitable to wealth creation prior to aspiring to becoming rich. Among the most unpopular financial terms that are misunderstood are the phrases ‘being broke’ and ‘being poor’. It is imperative that you understand these concepts and how they are related so that you can take advantage of the knowledge in your journey to financial success because they are neither synonyms nor interchangeable phrases.

Being broke means having no money to address immediate financial challenges. However, being broke is not the same with being poor. The reason for this claim is that you can be broke without being poor, and you can also be poor without being broke. In order to explain these, there is the need to understand the meanings of the phrase, ‘being poor’. What does it mean to be poor? There are three definitions of being poor. The definitions correspond to the three levels of poverty.

The first definition of being poor is having no money to meet immediate basic financial challenges and needs. This is the highest level of poverty. It may be called abject poverty, absolute poverty, critical poverty, total poverty, severe poverty or acute poverty. This type of poverty is most undesirable because it is unworthy of any human being. People who experience it cannot afford the basic necessities of life. It is usually the status of people in societies with irresponsible leadership.

The second definition of being poor is having little (or insufficient) money to meet immediate and basic financial challenges and needs. It may also be called mild poverty. Unlike people who live in abject poverty, people who experience mild poverty can only meet part of their immediate basic financial challenges. This is also a condition that is unworthy of any human being. It is a condition that is undesirable by every human being because it degrades an individual’s human dignity.

The last definition of being poor is having money to meet only immediate needs. This can be described as moderate poverty or modest poverty. People in this category do not have more than they need. They will move to the second level of poverty, i.e. having insufficient money to meet their immediate and basic financial challenges, once they are out of earning. This is why they must continually work and earn before they can meet their financial needs. This is the class the so-called average people belong.

From the above, it may appear that it is better to be poor (at least in the second and third senses) than to be broke since it is better to have little money (than to have no money) to meet immediate financial challenges. You need to understand the true meanings of these phrases and their relevance to your financial life so that you can properly guide yourself in your financial pilgrimage. There are some relationships that exist between ‘being poor’ and ‘being broke’. They are as follows:

You may be poor and broke. This condition is experienced by people who live in abject poverty. It was earlier remarked that the first definition of being poor is having no money to meet immediate and basic financial challenges and needs. People who are poor and broke are those who have no money to meet their immediate and basic financial challenges and needs. They are people who experience First Class Poverty because they are always poor and broke.

You may be poor but not broke. It was remarked that the second definition of being poor is having little (or insufficient) money to meet basic financial challenges and needs. The implication of this definition is that you are poor if all the money you have is only good enough to meet your immediate financial challenges. People in this category will have no money to meet their basic needs in the near future, if they do not earn additional income.

However, inferring from the definition of being broke above, you are not broke for as long as you have enough money to meet your immediate needs; though, this does not imply that you are rich. It is worthy of note that some poor people are hardly broke because all their incomes serve the purpose of meeting their immediate needs, and they always live within their income. As earlier remarked, this does not imply that they are rich. They are simply moderately poor.

You may be rich but broke. Many rich people are always broke in the process of building a healthier financial future. One of the principles of success is that you should set goals that are (a little) above your abilities. When you set such goals, you must raise your ability to the level of the goal before you can accomplish it. This is why the accomplishment of such goals improves your life. This is also why you change in the process of striving to accomplish such goals.

As a matter of fact, sometimes, you should be broke because of your plans for a better and brighter financial future. When you set financial goals that are above your financial strength, no matter how rich you are, you will have to seek financial assistance in order to achieve the goal. This usually involves obtaining loan(s). This is why rich people, like the poor, also borrow money. But this does not mean that they are poor.

The difference, however, is that rich people do not borrow money to meet their basic necessities of life. They borrow money in order to fund the acquisition of investments. This is why borrowing is not necessarily a sign of poverty. When a rich person puts all his money in a prospective project, he is broke but not poor. If you truly desire to be rich, you should be prepared to be broke sometimes because of your financial plans. It is better to be rich but broke, than to be poor but not broke.

Other Cost of Debt

Perhaps enticed by these products, you spurge left and right, swiping your credit cards as though there is no tomorrow. Remember the movie Confessions of a Shopaholic? Sometime, people tend to be guilty about it. However, the reality is that our life is not a movie that someone must direct us what to do to make it a happy ending.

More than the financial costs of debt, there is one factor that is detrimental if left unheeded and unsolved. This may cost more than your wealth simply because nobody can buy it. When you lost a thing, you say, “it’s just a thing, I still can buy it.” But when the emotion is involved, it’s something that is serious and it needs careful attention.

When you are unable to pay your debts on time due to financial scarcity and whatnot, it leaves you feel desperate and not in control of your life. It’s like someone is controlling you. The worst thing to happen is to deprive yourself of the things that could make you stay healthy and happy. This can eventually lead to loss of confidence and, to some extent, this has an abysmal effect to one’s sense of self.

The emotional consequences of debts can also affect the people around you. It can harm your relationships with your family, friends and loved ones just like a lot of failed marriages are rooted in money problems. While somehow it has an advantage to your work performance as it would push you to do more, to perform more, which apparently beneficial to your employer, there should be a long term solution to your debt problems.

In the midst of all these negativities, debt should not only be construed as bad, useless, detrimental and whatnot. Debt is good as long as you know how to use it and how you handle it. Debt exists to fill in the scarcity for the mean time. However, a careful planning must be in place before anything else.

Psychology of Retirement

Retirement in the models described above is simply quitting your job. Retirement can be thought of as leaving a job or task to do another task. People rarely sit around and do nothing unless they are not able to do any work. People will want to find something to do, no matter what it is and whether they are paid for it or not.

A better definition of retirement is doing what you love and having control over your resources. Do you have to suffer for 50 years to do what you love? Many people talk of “paying your dues”. Why not do what you love now? Yes, there are many responsibilities to consider, and doing what you love means being much more mindful of how things get done, how things are paid for and who gets affected. Doing what you love is hard for most people because it means being different; it forces you to shed many fears and issues and become what you want to be. People are scared to face this reality, so they do a job that gets them by, “pays the bills”, and allows them to hang onto their current beliefs. Happiness may be compromised in this choice, as well as health and other aspects of life that are believed to be important.

Retirement is really about a state of mind. It is not only about the money. The money aspect as well as health, relationships, time and resources should all be planned because these areas are what the money is supposed to be used for. As jobs become more and more uncertain, golfing at age 65 is becoming more and more irrelevant.

The model of retirement from the 1970’s was used to sell a dream of leisure that was not very easy to materialize. Once the lifespan allowed it to materialize, the money became more and more elusive to fund the dream. Today the possibilities still exist, but you will have to make them yourself rather than relying on society for the dream prescribed to you. There are many assumptions and myths that are made regarding retirement, and some of them will be discussed below.

A retirement switch turns on when you turn 65 and no other age. This assumption was made in the past, but today, retirement ages are being pushed back to between 65 and 70 years old for the poor, and earlier than 60 for the wealthy. For the entrepreneur or self-employed person, there is no age as this model has been abandoned. The age of 65 is one possibility of when to retire, but it is not the only one. There really isn’t a set age any more to make this change; it will depend on what you want to do.

There are other people who postpone retirement indefinitely because they would not know who they would be without their jobs. If they don’t work, they feel useless, a burden to society, or second class citizens. These people may have more than enough wealth; but there are also people who work past age 65 because of financial lack. This did not happen in the past because people did not manage their retirement directly. The trend over the last 20 years is to shift responsibility for retiring to the retiree rather than the employer or the government. This is why RRSPs were introduced, why the TFSA was introduced, and why company pensions are becoming fewer and less reliable. If you have a pension plan, it is becoming defined contribution versus defined benefit. Defined contribution means that people would have to invest their own money and bear the risk of their losses, whereas for defined benefit this was not expected. Health costs were also covered up to and into retirement – and the trend is to privatize these services more, so that people will have to pay for themselves, either directly or through private insurance. Provincial health insurance is covering fewer items each year, work benefits are covering more each year, and more services are being charged for and outsourced to private companies.

People assume that retirement “just comes” like death, and they have to deal with it. There are stories of people who worked for 50 years continuously, and right after retiring at age 65 either die suddenly or become severely ill. Some go into depression or go into a state of decay where nothing is interesting to them anymore. Why is this? These people did not know what to do when they stopped working. Was retirement right for them? Why not stake out what you are going to do when the time comes and ease into it? Planning is done for life changes like when you leave high school, after university and even after having children – why not retirement? It makes the financial burden much easier to plan because you don’t have to guess what you need. You can test this out beforehand. The idea of clinging to a job for an identity will not be needed because you have found something to do before the “void” of indecision or transition takes place. Nature doesn’t allow a vacuum, so if you find yourself with “nothing to do”, something will always come in to replace what you have left. The trick is for that something to be what you intended rather than unconscious. You technically do not have to retire, or can retire constantly in spite of age, health, circumstances or options.

There is no prescription for retirement, just like there is no prescription for starting a business, doing a piece of art or finding the perfect trip. These depend heavily on what someone is looking for, and what appeals to them. The first question for the future retiree to ask is: What do I want to be? Secondary questions are: What do I want to do? How can my skills be put to the best use? What activities make me the happiest? What kind of lifestyle do I want to have? Understandably these questions are not easy to answer and they will take time to figure out. There may need to be some tinkering and trial and error before you know where you want to be and what you will need to get there. The good news is that you have a lot of time to experiment.

How much money do you need to retire? This is very much an individual question and it varies widely. There isn’t even a useful range to give out. Some people can live on CPP and OAS only, while for others $100,000 per year is not enough for their needs. If someone tries to give you a prescribed model, be mindful that it likely will not work for you unless you fit the intended consequences that the model is designed for. If you are living the average life and require the average amount of money to pay for it – the model may be useful. Any differences from this model that you want to make will have to be thought through by you to make sure that they are covered.

Do you want to: Learn how the world of money really works without the need of a time consuming or expensive course of study Discuss what you want to achieve according to your horizon Restructuring your finances to achieve your goals Advice that is not affiliated with any institution or any product – an independent opinion

Cash Advance Lenders

In order to get a car title loan, the individual must own their own car. For those who do own the ‘pink slip’, they often would rather not put their vehicle at risk. A secured loan in default results in the loss of property. Most people need their vehicle to get back and forth to work. It takes a certain kind of desperation for a person to risk their vehicle in order to solve a financial emergency.

Pawn shops work for people who have valuable personal items can pawn them off for a percentage of their fair market value. It is important to understand the terms and conditions of these secured loans so you don’t lose your property. Like car title loans, a pawnbroker will sell the property to collect on the loan as well as make profit from it.

When people think about short-term loans, they often consider a cash advance loan lender because there is no collateral necessary to obtain fast cash. It is a simple online transaction which will land a few hundred dollars directly into the borrower’s bank account, usually within 24 hours as long as the following day is a working business day. Credit challenged applicants do not have to worry about the state of their credit history. These loans are processed without credit scores as a qualification factor. These lenders want a working bank account, proof of employment and a minimum amount of take-home pay. Since there is no collateral to collect if the loan goes into default, a lender will sell the balance off to a collection agency. At this point the bad debt will be another negative on your credit history since collection companies report to the credit bureaus.

A budget is a good money management tool to help stay in control of your monthly income. If you truly do not want to have to use short-term cash lenders, you will need to build an emergency savings account. Learn to reallocate funds within your own budget. Divvy up your paychecks according to your payment dates. If you have one pay period more burdened than another, reallocate funds from a different paycheck to cover the extra load. There are many people who have learned to juggle their money among living expenses. Those who live beyond what their income affords will be the ones who turn to other money options when unexpected costs creep in. Income can only be stretched so far without some sort of additional problem creep into the money books.

Personal Saving

First, many people buy products spontaneously without planning to buy them in advance. That is, they buy a product or service, and decide to buy it, only immediately before they make the actual purchase. Most of us fall prey to unplanned spending every now and then. Retailers put a lot of effort to encourage unplanned spending. Take for example the sweets at the checkout of the supermarket, or the sales table in the middle of the toy store. Temptations like these make it much harder to control spending. Of course, these are many more examples how retailers can motivate people to make unplanned purchases. Luckily, there are many ways to limit these kinds of expenditures. You can, for example, make a shopping list before going to shop, hold less money in your pockets to decrease the tendency to buy food items on your way home, or leave your credit card at home when visiting the shopping mall. Besides, never go shopping when you are hungry. It makes you vulnerable to buying unplanned food items and overfilling your cart.

Second, people tend to think it is more difficult for them to save money now (and spend less) than it will be in the future. For example, they want to go out of dinner this evening, they want to buy their partner a sweet gift, or they are planning to do something nice in the weekend. Obviously, in the short term people are aware and think of many things they want to spend money on. When they think about the future, they don’t know yet what they will be doing by then. As such, they are less aware of the temptations they will be facing in the future that might prevent them from saving more. Hence, they think it will be easier to save in the future. The point is, however, that they will also think this in a few months from now. Consequently, people tend to postpone saving more all the time. One way to avoid postponement is by committing yourself now to increase your savings rate at a certain point in the future. For example, you may want to consider arranging that a greater percentage of your monthly salary is automatically transferred to your savings account from a certain point in the future.

Spring Investment Property Form Guide

Size up the investment property market

To make sure you’re backing a winner – and getting the best value – you’ve got to research extensively. Ensure you’re across all the investment property magazines and websites for general property purchase tips and strategies and then do as much investigation into the market/markets you’re exploring as possible. Talk to local real estate agents and local residents and read as much about the local area as you can. The more you know, the more well-informed a purchase you’ll be able to make.

Hunt like a pro

To make the most of your time and find the right property as quickly as possible, take a serious approach to your property pursuit. Plan your Saturdays thoroughly and set up a system for documenting the properties you’ve seen, the agents you’ve met and the sale prices of the properties you’ve been watching.

Get in front with a pre-approval

There’s nothing worse than finding the right property only to miss out because you haven’t got your finances in order. Before you do anything this buying season, speak to us about your borrowing options and to get your pre-approval organised. Having a pre-approval also gives you a clear idea of your price range, so you don’t waste time looking at properties you can’t afford.