0 Spend

If they had learned money management when they were young, they would:

1) See the foolishness of Obama’s "plan"
2) Have money to buy whatever insurance/other promises Obama is making them.

Will liberals wake up before its too late?

*sigh* Just like the Bush supporters thought it was a good idea to spend 3 trillion for a war. You say tomato I say, well you know the rest.

She would like to quick deed her home to us as we will take over her morgage payments for two year. At that time we will have to get financing ourselves, and any equity will be split 50 50.

In this transaction you do not want to use quit claim deed.

Look in your local telephone book and locate a title company. Call them, explain to them that your friend would like to transfer her property to you "Subject to the existing mortgage/loan."

The closing agent will understand this term and do the legal thing to make it happen.

They might require some type of contract between the two of you. You have the basics about what you want to do any way, so you might have to establish a down payment, sale amount, closing date (approximate) They will give you a general idea as to what is needed.

This information is needed so that the closing agent can make up what is called an "Escrow Closing document".

Your friend might even want to add a lien against the property to protect her 50% equity in the property. I know that I would. Once the transaction close, your friend will get a silent second for the 50% that will be all due and payable at the refinance which should take place one year from the sale date but not more than 2 years from the sale date. This document protect your friend and the closing agent will complete it for your signature/

Upon the closing of the transaction the title company will record this document against the property.

You, as the buyer will, upon the closing, of this transaction be responsible for the payment of the insurance and county taxes that need to be paid. If they taxes and insurance are paid through the mortgage you need not change this nor do you have to make a separate payment for these items since you would be making them through the monthly mortgage payment.

The reason you want to do this transaction through a title company is that it will prevent potential legal problems in the future.

You should make the monthly mortgage payments each month by check , not money orders or cashier checks, but by personal checks from your bank account. This is proof that you made the monthly mortgage payments.

After a year or more with the cancelled checks or bank statements from your bank you will be able to refinance as if the mortgage was yours since you will be able to prove that you in fact did make the mortgage payments.

I hope this has been of some use to you, good luck.

"FIGHT ON"

I read a lot about financial tips given by experts. Unfortunately not one gives any advice to anyone who has not got a perfect credit record of which there are thousands, usually because of circumstances beyond their control. But there is no advice out there for them on mortgages,loans etc. Or maybe they don’t really exist.

Books from your library.
I have read books on insurance, annuities, buying homes, personal finances, credit repair, saving, investing, etc.

There are some really good ones.
I like the yello books which some people call the Dummies Series.
The world is at your hands – learn.

Look for Mortages for Dummies and another one called
Credit and Debt Reapir for Dummies (excellent book to say the least)…

What can I do? Does anyone know any good books, or websites that would explain all the basics of taxes, how the banks work, bonds, stock, investments, insurance? I just feel really lost in all of the stuff going around on the news and stuff, and I would really like to be educated on these matters.

Here are some great magazines / newspapers:

The Wall Street Journal = daily financial newpaper but also includes current events and other funner topics.
Money = monthly magazine about personal finance
Smart Money = monthly magazine that is a cross between personal finance and business finance

All the Personal Financail Planning software I found just like Personal Accounting or just a Retirement Calculator. Where can I find a real Personal Financial Planning software which covered everything included my clear dept planning, risk protection, education and retirement planning?

Hi,
I can recomend you a piece of software I have been using lately and am quite happy with – Personal Finance Associate by Parcus Group.
Simple to use software with features incl. budgeting, financial planning templates, shares valuation, real estate investments analysis, life insurance, taxation calculator etc.
Definitely check it out at:
http://www.parcusgroup.com/
Great value for money for US$24 or AU$29 for a single user license.

Basically I have to create a 5 – 6 financial plan on how to use $50 000 of money I inherited as a beneficiary. Any ideas on how to start and what this financial plan may consist of?

Hi,

I would say that there are typically 4 components to a good financial plan. Really, they’re all personal finance basics, just put together in one document.

1. Assessment of debt and a plan to tackle it
2. Assessment of income and a plan to budget to manage cashflow
3. Assessment of insurances, especially life, and a solution that meets needs and fits budget
4. Assessment of investments (no point going here if the first three aren’t in order) and implementation of a program that looks at the person’s risk tolerance and time frame.

I found one of our old articles that talks about managing auto insurance and how our writer had a close call.

Hi,

I want to offer a personal financial planning service for young families, covering analysis of present financial condition, budgeting, investment and insurance planning, retirement planning etc.

Would welcome suggestions on marketing this service on the internet and also other media. My client base will be in India.

Considering social networking sites, groups, blogs, twitter etc.

Marketing costs to be minimal, as this will be a very low fee service.

http://www.boddunan.com/component/content/article/6-other/260-financial-planning-and-its-requirement.html?directory=3

FINANCIAL PLANNING AND ITS REQUIREMENT
Business & Finance

Government backed treasury bonds. Roth IRAs. Tax sheltered interest. I’ve heard all these terms but I haven’t a clue to what they mean. Aside from going and getting a degree in finance, can someone recommend me a book or several books that explain finances A-Z? I don’t want to become a stock broker, but I do want to be good enough that I can take my income, and know exactly how to invest it, where to invest it, how much, what the risks are, etc.

So here are five practical steps to start learning finance and business:

-Read an introductory book on personal finance
In my opinion, starting with personal finance is a good way to learn finance and business. It is from personal finance that you get the most applicable ideas for your life. Isn’t it ironic if you know a lot about finance and business but have your own personal finance in a mess?
So I’d recommend reading a book that introduces you to all important aspects of personal finance. For this purpose, I like the book Personal Finance by Kapoor, Dlabay and Hughes. It is very readable, and cover all important aspects of personal finance like budgeting, consumer credit, housing, insurance, investing, and retirement. The book is also very scannable; you can easily scan through it to grasp the main ideas of every part.
The book is expensive ($132.19), but I borrow it from the library for free. If you can’t get it, don’t worry, you can always read other books. The bottom line is the book should introduce you to all important aspects of personal finance.
-Subscribe to a personal finance blog
Subscribing to a personal finance blog will help you apply the principles of personal finance in your daily life. It will remind you of the principles you have learned, help you learn new principles, and most importantly help you put those principles into practice. The blog I like is Get Rich Slowly. The tips and experiences shared there are very useful and practical.
-Subscribe to a personal finance podcast
Similar to my previous point about blog, subscribing to a personal finance podcast is a good way to help you put personal finance principles into practice. The podcast I like is Money Girl. It’s short (often less than five minutes), very easy to understand and contains a lot of practical tips.
-Subscribe to a business podcast
Now we move from personal finance to finance and business in general. A good way to start is subscribing to a business podcast. There are many business podcasts, but the one I like most is HBR Ideacast for one simple reason: it gives me preview of the newest business ideas.
The podcast often features interview with the authors of new business books. By listening to this podcast alone, I can quickly get the main ideas of those books. In some cases, I get enough from the podcast that I no longer need to read those books. It saves me a lot of time while keeping me up-to-date with the newest concepts in the business world.
-Read an introductory book on finance and business
Eventually, to get deeper knowledge about finance and business, there is no choice but to read “real” finance and business books. By “real” here I mean something that uses those jargons MBAs talk about in their conversations about business.
Fortunately, there are books that can help you get there in relatively short time. The book I like is The Ten-Day MBA by Steven Silbiger. This book introduces you to all important aspects of finance and business like marketing, accounting, economics, and strategy. It gives you enough knowledge to understand the conversations in finance and business world.

These five steps should give you strong enough foundation in finance and business. However, if you want to move beyond these five steps, I’d recommend reading the books listed in the Personal MBA. The list contains 42 books and periodicals which aim to give you finance and business knowledge comparable to someone taking an MBA program.

it’s been a while since i’ve taken personal finance. i wanna move out of my parents house in a few years, so i’m trying to estimate what it will cost me per month. what factors do i need to think about? obviously rent, utilities, gas money, insurance, groceries, personal expenses…

i guess what i really wanna know is how much it typically costs a single person, to get a cheap apartment and live on their own each month?
and i swear, if you spam my question with your financial scams, you will be sorry.

There are so many variables… the biggest one is the location you live in. Some cities you can’t rent a room for less than $1200 a month, where I live you can rent a 3 bdrm/two bath place for $350 a month. Do you mind if you are in a rough part of town, or are you willing to pay more for a certain area? It really comes down to what kind of lifestyle you want to have. Here are some things you can do right now to get ready. Buy the little things you will need such as pots, pans, plates, silverware, towels, etc. When you finally move, you won’t have to spend money on the basics because you will already have them. If you know the cost of rent in your area, start "pretending" to pay rent now. Take that much money every month and set it aside in a savings account. This will get you used to that money being gone and will build up a nice emergency fund for when you do move. When I moved into my first place I did it VERY cheaply with a VERY tight budget. The best way to make sure you’re successful is to be prepared with extra money in the bank and don’t rent more apartment than you can afford. Rent should never be more than 25% of your take home pay.

"There is a lot of disinformation about health insurance reform out there, spanning from control of personal finances to end of life care. These rumors often travel just below the surface via chain emails or through casual conversation. Since we can’t keep track of all of them here at the White House, we’re asking for your help. If you get an email or see something on the web about health insurance reform that seems fishy, send it to flag@whitehouse.gov."

http://www.whitehouse.gov/blog/Facts-Are-Stubborn-Things/

I have a lot to say about it but at this time I’ll just say WOW.
I find it unbelievable that some of you are questioning the source. IT’S FROM THE WHITE HOUSE’S OFFICIAL WEBSITE.
Endeavor: You’ll love it even more when they cut off the right to oppose something YOU don’t agree with, right?
"Your question is suspect because as you can see from your copy and paste, it said nothing about abridging your right to oppose anything."

You’re right. It says nothing about silencing opposition. You’ll just get reported to the gov’t. if you oppose.

What world do you live in??
Oh I seenow. This is not an email. I copied it EXACTLY from whitehouse.gov. You are free to check the link.

What a go–totally agree with the White House.*