Monthly Archives: September 2019

Step by Step for Financial plan

If you are tired of just surviving end of each month, it is time to live under a financial plan. Come to “put your legs” to all the principles we have heard and finally get to financial peace. When people ask me how to eat an elephant, I always say that in Mexico it is eaten with beans, rice, salsa and tortillas. I’m just kidding. The answer is one bite at a time. It has been said that if you go step by step you will reach your destination. Here I present a plan that has stood the test of time. I call this small steps.

Save $ 2,000 in an emergency fund.

money loan

The formula for different countries is one third of the average monthly income in the country. This is a small fund for unforeseen expenses. This fund protects 90% of life-giving “kicks”. I challenge you to collect them in 30 days. Be creative to sit down with a pencil and paper and find out what I could do to achieve it. Maybe this month, you can cut $ 500 from your budget or maybe sell the bike and other items and put together $ 250 and the rest, with a little extra work delivering pizzas. Don’t worry about attacking the debt. And just focus on this little step.

Clear debt with snowball.

money cash

At this stage stop saving and focus on getting rid of debt clutches. It is impossible to save for the future and it is impossible to save for the education of children while you continue to give your money to the owners as a slave. “Andres, how do you do it? What’s this snowball?” Put all your debts on a bottom-up list, regardless of interest, and set a minimum payment on all but the smallest debt. You will attack the smaller debt with all the money, with all the effort, with all the passion and desire to escape until you repay. When you are done with this debt, take all that money, add it to the minimum repayment of the second, and do it until the end, and so on until you pay all the debts except the mortgage.

Make a savings of 3 to 6 months for a full emergency fund. Now that you have no debt and you have money left, stick to the same approach and collect what we know as the financial cushion. When this small step is over, financial peace begins, so difficult to describe but gives us the foundation to start accumulating wealth.

Invest 15% of Your Income in Retirement Accounts. Invest in university expenses. Of course, this small step applies to those with children and, if not, go to the next step. Pay the house. All the money we have and we earn above step 4 and 5 will pay the installments of your property.

Save more, spend more and give like no other.

money cash

This step is the most fun because it verifies what the Bible says there is more joy in giving than receiving.

It’s fun to accumulate wealth, then I’ll talk more about accumulation. For now focus on the first three steps to staying firm on the rock and starting to live in financial peace. If you notice, I never said it’s easy, but it’s worth it. If you live like no other then you can live and give like no other.

Building credit for renovating or expanding houses?

Have you bought a used house or have been living in a property that you would like to renovate or extend? The construction loan is for you! This type of loan is specifically designed to help you modernize your existing property or adapt it to your changed needs.

 

Important feature of a construction loan

Important feature of a construction loan

An important feature of a construction loan is that the bank does not disburse it to you in one lump sum, but in installments, and when you get the individual installments depends on the degree of completion of the construction. When you are ready for the construction phase, the next installment of the loan will be disbursed after a site visit. You can apply for a construction loan to finance a variety of activities related to the renovation and modernization of your used property, such as floor construction, or even the replacement of insulation, windows, and heating.

 

Construction loan is the need for self-employment

Construction loan is the need for self-employment

Own resources are calculated from the value of the site and the budget; you need to raise 40% of the sum of the two. However, this amount can be reduced by using additional collateral, so even if you encumber a property with a mortgage, the cumulative value is calculated and 40% of the total value is calculated and the maximum loan amount can be calculated accordingly.

There are several types of state aid available for a construction loan , so you have to meet much stricter conditions for a market-based loan if you want to raise it, but that is not impossible, and if you successfully overcome the obstacles and have a positive credit rating you are best off when renovating or building.

If you have decided that you want to use a building loan to modernize your house, make sure that not only one financial institution deals with it! Compare the available offers through our site and choose the one that suits you best! Do you have a question or a comment? Do you want advice? Contact us at our contact details!

Do Czechs Prefer Cash or Card Payments?

At the beginning of the year, media reported that Czechs are European record holders in paying with a contactless card . VISA firm on that occasion came with an interesting Infographics on its cards.

But contactless cards are not enough for Czechs. Other statistics show that we are also European leaders in terms of absolute news – payments using biometric applications .

 

Pay by card – no card!

Pay by card - no card!

Imagine that you no longer need to take your card out of your wallet when making payments at the store. And even better – you don’t have to copy your 16-digit card ID and other details when shopping online.

This is enabled by the MasterPass application on smartphones. Simply authorize your card and choose a 6-digit PIN code. If you have an iPhone 5s or higher, you can use your fingerprint to launch .

The application, which is the first in the Czech Republic and one of the first in the world, is now used by about 60 thousand people and more are added every day. In addition to comfort, it also guarantees absolute security – in hundreds of transactions, MasterCard has not yet discovered a single fraudulent business.

 

Czechs love cards, but they have two problems

Czechs love cards, but they have two problems

Despite the European leadership in our country, however, still (a bit paradoxically) cash payment is still leading . Specifically, only one in ten Czechs would like to give up completely. In short, we still have a rooted notion that we must have at least a few change in our wallet.

Another fact is striking. A March survey by the Czech Banking Association revealed that more than half of those surveyed did not know the differences between debit and credit cards . Czechs are thus deprived of considerable savings, because with smart use of credit card saves with every payment.

 

Knowing the differences pays off

Knowing the differences pays off

There are 11 million payment cards in the Czech Republic , a few thousand more than the population. Therefore, it certainly does not hurt to recall a few basic facts:

  • A debit card belongs to a bank account and you use your own money to pay with it.
  • The credit card works as a pre-approved loan . Whenever you pay with it, you draw the lender’s money. If you pay them by the end of the interest-free period, you will not pay any interest.

In addition, the credit card comes with many discounts and benefits . For example, whenever you pay with our Premium card , we will refund at least 1% of the purchase price back to your account. If you shop with our partners , it can be up to 20%.

Your percentages will turn into a premium $ in your account, and as soon as you collect 100, we’ll mail you a $ 5 voucher that you can use again to purchase. In addition, special events await you every month .