Help Your Finances Bloom This Spring
Question about finance
How does agricultural finance work in the US? Which organizations are involved?I'm trying to understand how agricultural-finance works in the US, the companies/organizations involved in this, etc.
Please help me develop a broad understanding of its structure, key organizations, etc.
Thanks so much in advance!
Spring is in the air across the country and many people are beginning their gardening and participating in the tradition of spring cleaning. It’s the time of year when garages get organized, and clutter is removed so that the floors and walls can all get a much needed cleaning after the family has spent months indoors waiting out the cold weather.
Anyone who’s ever tended a flower garden knows that flowers require some care and attention to bloom fully. You’ve got to keep their area free of weed clutter, watered and with just the right amount of sun to really help them thrive. Your finances need similar attention to bloom – and decluttering your financial situation can save you money.
Weeding Debts
Start with your current debts, since these are likely to be costing you the most money in fees and interest. Get your free credit report from annualcreditreport.com, and see whether or not there are any inaccuracies reported. If so, dispute the problem in writing and get it resolved. A drop in your credit score of just 50 points is enough to cause you to pay more for credit or be the reason you can’t get credit at all.
You’ll also want to take a close look at your credit card and loan statements to see what interest rates you’re paying on each of your accounts. Perhaps you can make a few phone calls and get your interest rates lower; or move balances from higher interest cards to a lower interest card; or pay off high interest credit cards with a lower interest loan. These actions can save you hundreds or thousands of dollars per year, and only take a few minutes of your time to initiate.
Create a plan to pay off your debts as quickly as possible. Debt and the fees associated with debt repayments are like weeds in your financial garden – you can’t expect your finances to grow properly when you’ve got the ‘weeds’ holding you back.
Tending Your Bank Accounts
Take a close look at your bank accounts. You may have multiple savings and/or checking accounts, a money market or other account and you may find it easier and more manageable to consolidate some of these accounts. Additionally, if your bank accounts are charging you fees, you are paying multiple fees when you could combine accounts and reduce the amount of fees you pay for banking.
After determining how many bank accounts you have, compare what fees each bank is charging you to use the account, as well as benefits associated with having the account. Once you’ve determined which account or two you plan to keep, you can begin consolidating. Start by switching any automatic payments you have coming out of an account you plan to close to the account you are keeping open, and once you’ve verified all automatic payments are coming out of the right account – begin closing the ones you’ve decided to eliminate.
You can further declutter your financial situation by setting up online bill payment for your recurring bills, and eliminating the need to receive bill statements in the mail. Switching to electronic banking uses less paper, and you can balance your accounts online as well. Reduce the need to pay for stamps by paying as much as you can online, and only mailing checks to companies that don’t accept online payments. Eliminate late fees by setting up accounts to pay automatically, and you’ll never forget to make a payment on time again since it’s all set on auto-pilot.
Decluttering your finances works like fertilizer to your financial ‘garden’. Taking the time to work out the details each spring will keep you on track for long term financial success.
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Tags: Bank Accounts, budget, finances, personal finance, Spring cleaning
Posted on March 27th, 2010 at 12:59 am
Mate these videos are so much helpfull and very clear to understand, you have a great approach of teaching, well done!!
Posted on March 27th, 2010 at 1:10 am
Really helpful in understanding some of the complex and simple financial terms..
Posted on March 27th, 2010 at 1:13 am
Did I miss something? Did you say initally you would give me $100 today and toward the end of your talk, you said you would give me today $105 and I could invest it at 5% rate and earn $110.25. How did you go from giving me $100 toay to giving me $105 today?
Posted on March 27th, 2010 at 1:37 am
The answer is 418.76 pounds.
Ok. This is a 'fairly' simple growth question. The formula I'm using is for compound growth which I'm sure you've heard of, as you put this question in the right section. (Compound growth is used most in finance). This is how the formula looks:
FV = PV ( 1+i )^n
Where FV is future value (his future weight which is what you want). 'i' is the growth rate. 3% growth means i will be 0.03. And n is the number of years he'll grow over, which is 60-35 = 25 years old. For this question the formula could be worded as:
Weight, multiplied by ((1+percentage growth) to the power of number of years he'll be growing).
= 200*(1.03^25)
The answer is 418.76 pounds.
To help you understand. If you're growing by 3 percent a year. then next year you will be 1.03 multiplied by the weight you are now. This would be 200 * 1.03
His weight in two years would be 200 * 1.03 (the weight after the first year) which will then grow by 1.03, so the above bit needs to be multiplied by another 1.03. So in two years he'll be 200*1.03*1.03 or 200*1.03^2. You'll notice the power is simply the number of years he's been growing. After three years would be 200*1.03^3.
So it ends up being 200* (1.03 to the power of 25)
Good luck with any other questions.
Posted on March 27th, 2010 at 2:09 am
Have you always wanted to be able to do compound interest problems in your head? Probably not, but it's a very useful skill to have because it gives you a lightning fast benchmark to determine how good (or not so good) a potential investment is likely to be.
The rule says that to find the number of years required to double your money at a given interest rate, you just divide the interest rate into 72. For example, if you want to know how long it will take to double your money at eight percent interest, divide 8 into 72 and get 9 years.
Yes, it is a useful tool and is reasonably accurate.
Posted on March 27th, 2010 at 2:13 am
I've been in Finance for so long that I've decided that I wanted to do a different degree that was along the lines of my future goals… Law. I did my BBA in Legal Studies. I was a Finance major at first. I will suggest that you stick with the Finance Major vs the Business Administration. I mean if you think about what exactly is the B.A. offering you when the bottom line of the degree is in Business Administration? To have a specialty gives you a 'know-how' that makes you more adept in taking on positions that offer stellar pay as Finance and Accounting is known for. Each person is different in terms of what they want to do with their future goals. I normally see students minor in Business Administration if their Undergraduate Degree is in a totally different realm. This is only to signal to the employer that you are versatile and have business skills. If you are a business student I suggest Finance if this is what you want. Finance is definitely interesting and keeps you on the toes not just in the sense of performing statistical analysis but also conducting market and financial research including technical analysis which keeps you in the loop of world news as much as national news. You begin to witness the chain in global commerce & media and how it effects one another and inevitably effects the market as well as consumers far and near.
Another point that comes to mind is the institution that is granting the Finance degree. What is their reputation in the Finance Department? Are they first class? Are they top-rated? Usually the "glamourous pay but slave to your job" are firms off of W-Street which hit Ivy league schools to join their Associate or Summer programs. These programs, once selected ..highly selective, gear you up for positions such as equity or fixed-income analysts. Again, the pay is here, the perks are there, but you get no life. If you're looking to have that lifestyle then ensure your alma-matter can deliver. Your grades will obviously have to stand on its own and well .. if you have connections then use them.
If you want something more exciting in Business then go for Marketing. I'm leaning to the Marketing aspect in my MBA program which will play instrumental in my Entertainment Law (Law, Marketing, Finance (Budgeting)).
Good luck with everything.
P.S. I suggest you take a few finance classes (required and as an elective) before you decide.
Posted on March 27th, 2010 at 2:40 am
Are you working with a Realtor? Ask them to suggest someone.
If not, Find a Mortgage Broker/Banker who can shop the market for you and find an investor who will finance you.
If you cant find anyone, I hope you made the offer contingent on you finding financing, if not, you are out of your earnest money when you back out.
Good Luck!
Posted on March 28th, 2010 at 3:33 am
http://www.exinfm.com/free_spreadsheets.html
Posted on March 28th, 2010 at 4:26 am
It is a problem in a matter of law.
You should turn to your laywer for professional advice.
Posted on March 28th, 2010 at 7:34 am
that’s amasing! thank you very much from argentina and france!
Posted on March 28th, 2010 at 8:34 am
awesome
Posted on March 28th, 2010 at 6:05 pm
what is wrong with a pen and paper works real great if the electric goes off!!!
Posted on March 28th, 2010 at 8:12 pm
I’m thinking of majoring in finance. The first thing I dedicated myself to do is look through this entire playlist. I just want to thank you for giving me and everyone else such an opportunity.
Posted on March 29th, 2010 at 12:26 am
I’m in finance 300 right now. thank you!
Posted on March 29th, 2010 at 10:46 am
Traditional financing means your payments are the same every month for the life of the loan, e.g., $500.
In balloon financing, your payments will be lower, except at the end; this will be several times higher. In such an arrangement, your payment may be $350, but your final balloon payment might be $7000.
The latter type of financing is what trips up people, as they're able to make the smaller monthly payments at least until something happens – they lose their job, the economy turns sour, they have huge medical expenses, etc. Then they find themselves unable to make that balloon payment.
When exploring your options, have you crunched your numbers to be able to afford that car? (This is an important step in preparing for a big-ticked purchase.) Next, do you have enough money saved to be able to cover that balloon payment?
Posted on March 29th, 2010 at 6:13 pm
man thats clear as crystal, now i understand present and discount value
Posted on March 30th, 2010 at 3:34 am
Hey, this is so cool. Continue making these great videos. I do not know why they are not as popular as all the other less interesting vids on youtube, I mean this often makes me want to say “But this is so simple!”
Posted on March 30th, 2010 at 11:08 am
A "finance charge" is the fee you pay the bank for the convenience of them letting you borrow money. Some banks calculate your finance charge based upon your average daily balance within the month, while some calculate based on your balance at the time your invoice closes.
When you go about signing up for a credit card, the details will let you know what type of APR you'll be getting. With it being your first credit card, you're likely to get an APR around 20%. That means, the interest you'll be charged YEARLY is 20%. To find what you'd be charged monthly, simply divide it by 12; it would end up being 1.67% per month.
As an example, if your balance was $100, your finance charge would be $1.67. That sounds cheap, but just remember, it adds up.