Category Archives: Finance

Algomi Investment: Collaboration is Key

a businessmen writing down notes for financial technologyWhen financial technology companies began to gain some reputation and speed, the incumbent market infrastructure refused to embrace the newcomers’ technological advances, fearing their monopoly over the financial world could be compromised.

But, in today’s highly technological era, it would be impossible for financial institutions to ignore the impact that technology can have on the way they go about business. Ignoring these technological advances would also impact negatively on their customer service.

According to a recent report by the World Economic Forum, partnerships between well-established financial institutions and up-and-coming financial technology companies is the key to gaining shares. The report states that brand new market platforms don’t often challenge the incumbent institutions and that partnerships are the way forward when attempting growth.

Euronext and Algomi

A great example of this partnership is the recent Algomi investment. Euronext, the pan-European exchange recently invested $10 million in UK-based software developer Algomi. They have entered a 10-year development plan to create a trading platform to increase liquidity.

Algomi’s new software does this by aggregating software from all of its existing software designed for buy-side and sell-side traders. All of Algomi’s software shares anonymous data in huge quantities to give traders a better picture of the overall market.

Euronext has chosen Algomi investment because the company have been on the up and up since their founding in 2012, and they can develop software with Algomi that will directly affect their company in a big way.

Euronext has extended its licence with Algomi beyond 10 years, securing Algomi’s future as a big player in the financial technology industry.

Many large financial institutions have chosen to diversify in this way, like Goldman Sachs acquiring Honest Dollar, the digital retirement savings platform, to roll it out to their customers worldwide.

Huge renown in the financial technology world

Algomi and its founders have been awarded countless accolades and awards for their innovation and exciting technology.

Euronext plans to release this new trading platform soon and intends to develop it further and build the network to break into the North American market. This is definitely a partnership to keep an eye on.

Factors to Consider When Looking for the Best Mortgage for You

MortgageA mortgage takes many years to pay in full. Thus, you have to make sure that you find one that you can manage well.

Getting the best mortgage rate in Salt Lake City would be an advantage. But, there are other factors to consider. Here are some of them:

Mortgage Type

There are two main types: fixed and adjustable rate mortgages.

Fixed Rate Mortgage – The interest rate remains the same throughout the term of the loan. It allows you to budget your payments. The downside is when there is a general decline in interest rates. Interest on your loan does not go down.

Adjustable Rate Mortgage (ARM) – At the start of the loan, the interest rate for an ARM is often low. It will then fluctuate throughout the rest of the term. You will pay less if the prevailing interest rate goes down. If it rises, you will pay more. 

Lender

It is best to compare offers from different lenders. Interest rates and terms may vary from one lender to another. Compare mortgage products with the same features to make sure you are getting the best offer.

Mortgage Rates

Various factors influence the interest rate on a mortgage. These include economic and market conditions, as well as your financial profile. You can qualify for preferential rates if you have an excellent credit score and a steady job.

Mortgage Fees

Aside from interest, other costs come with a mortgage. These may include loan administration and processing fees. Thus, it is also important to consider the “junk” fees when comparing mortgages.

Lock Period

Offers from lenders are only good up to a given period. Interest rates are locked-in during this time. Beyond the lock period, the interest may go up or down, depending on prevailing conditions.

Consider these factors when looking for the ideal home loan to get. This will help you land the right mortgage for you.

Man in suit watering a plant

Ensure That Your Future Is Financially Secure In Two Smart Moves

Man in suit watering a plant

Surprisingly, money management skills rank as one the difficult skills to master. College graduates, after sitting for and passing difficult subjects such as calculus, often falter in all matters money management. In fact, the vast majority often make critical money mistake in their adult lives. 

Money management remains an elusive skill that leads many people to ruins. However, that doesn’t always have to be the case since it only needs you to make small incremental changes in your life.

Pick your Debts Carefully

Sure, the average student graduates from college saddled with tens of thousands of dollars in student loans. That should serve as your wake-up call about debt management. Left unaddressed such a debt can ruin your finances even in your old age. 

As such, you should make every effort to lower your debt portfolio immediately you secure a steady job. Be sure not to incur unnecessary debts. Be modest in your purchases, at least until your finances improve. While spotting the latest gadgetry is chic and fashionable, it only serves to bury you under a ton of debt in the end.

Educate on All Money Matters

No, this doesn’t mean that you enroll for an accounting class in some college. Although that wouldn’t hurt, there are easier approaches to improving your money skills. More than just limiting your expenditure, you need to find the best way to manage and invest your money. While a savings habit is a noteworthy practice, it can hardly make you rich or secure your future. 

You need to learn and sharpen your investment skills and make your money work for you. Similarly, you need to sharpen your borrowing skills when you need to procure a loan. Such skills are the key to getting the best rates when taking a title loan from Utah Money Center in Salt Lake City.

Sharp money management skills are the key to securing your future financially and avoiding costly money mistakes. By picking your debts carefully and improving your money management skills, you can be sure of a bright and secure future.

Pay Off Debt with Another Loan: Debt Consolidation 101

Business woman stressed about her debtsDebt can become a big issue in your life if you easily rack your debts up. Although at times, putting yourself in debt can be a necessary sacrifice when you need cash or you need funds that can pay for what you want or need. When left unpaid, however, debt can bring a whole world of trouble and headache hurtling your way.

Debt Solution

Now, many American households suffer from massive debt. You may be having a hard time paying off your debts. Unless you earn a high-paying job or some other good fortune, you have limited options before you to settle your debts. Other people have filed for bankruptcy, but you can pay off your debts through debt consolidation.

Consolidate Your Debts

Debt consolidation means paying off all your separate debts using credit or cash you took from one loan. Such a step protects your credit rating and even gives you time to repay your debts. You can consolidate your debts by either using a balance-transfer credit card or a personal loan.

Loan Over Credit Card

Now, a balance-transfer credit card works best for individuals with good paying jobs and can easily pay off their credit. You wouldn’t be in a debt predicament, however, if you had a good paying job and have the capability to pay easily. For individuals who need more time to pay a debt, you can go with a personal loan. In fact, a personal loan or title loan from easytitleloansutah.com may be your only option if your debts come from your credit cards.

Loan Tips

Personal loans have lower interest rates which may be favorable for you. You still have to be careful not to accumulate even more debt, however. You can end up with more debt if you spend too much. Perhaps refrain from expensive luxuries and wants for the meantime.

Here in Ogden, you can find a loan company that offers personal loans; the loans may just be perfect for your debt consolidation. The company also offers Ogden title loans, car loans, and signature loans.

What Estate Planning Can Do for You

Couple Doing Real Estate PlanningMost people mistakenly believe that only the wealthy could have an estate. The truth is, most people have an estate. Your estate is everything that belongs to you. For example, your house, car, jewelry, investments, life insurance, and savings are all part of your estate.

Like everyone else, you can’t take your estate with you to the grave. When you’re gone, you can’t decide who gets what anymore. That’s why you need an estate planning lawyer in Utah to help you decide as early as now– according to the law firm McCullough & Sparks— where your property goes or how it is managed, no matter how big or small it may be.

To simplify estate planning, it helps enforce your wishes on who should receive what from your property and when. What may complicate this matter, however, are the legal fees, taxes, and the court expenses. Your lawyer can help you minimize these issues with good estate planning.

With proper estate planning, you can ensure that you pass your values along with your possessions. For many, this also means that your estate takes care of you if you become disabled or that anyone from your family with special needs still receives care. It also ensures that a guardian can manage your children’s inheritance if they are minors.

Your estate includes life insurance, disability income insurance, and long-term care insurance to protect your family’s income if you are incapacitated or sick for an extended period. It would also ensure that your business is properly transferred to your designated heir when you retire or pass away.

Estate planning also ensures your estate does not get wasted on taxes, court fees, and legal fees. As long as you are alive and capable of changing your estate, you will have the power to do so. Estate planning is always an ongoing process, and requires proper documentation, so it is a good idea to have your lawyer work on it now and not only when you get to retiring age. Many things can happen, so it’s best to prepare early.

Want to Obtain a Bad Credit Refi? Heed These Pieces of Advice

Applying for RefinanceBlemished credit is one of the hurdles of applying for a refinance. Even if you have an existing loan, the refi lender would review your current credentials because you’re technically applying for a new mortgage.

Although a low credit score is a major liability, it doesn’t necessarily mean you can’t acquire a new loan in hopes of saving money. Contrary to popular belief, the subprime market is hale and hearty. In fact, American Loans noted that the number of lenders offering bad credit refinances in Utah, California, Illinois, and other states keep on growing.

How to play your cards right? Here’s what you need to know:

Check Your Credit Report

Review your credit history and identify the items that are pulling your score down. Late payments, defaults, charge-offs, and high credit card balances are some of the things that scare lenders.

Before you apply for a refi, take key steps to erase (or bury) them in your history. Over time, settling your old accounts and paying promptly would go a long way. Even if your credit score is still below 620 when you call lenders, at least you have a better chance to get more favorable terms.

Addendum: Make sure your credit history is free from errors before applying. Any inaccuracy in your report would negatively impact your credit score.

Set Your Expectations Right

As much as you want to snag the best rates available, accept the reality that you may not qualify for the lowest interest. Even if you manage to obtain a rate lower than your current mortgage, do the math to find out if it’s worth it.

Instead of basing your decision on the rate alone, calculate your expected monthly repayments with the term and closing costs in mind. If you plan to move and sell your home before you reach the breakeven point, you might better stick with your existing loan.

Have Some Redeeming Qualities

If your credit score is less-than-stellar, make up for it in some other ways. For instance, keeping your debt-to-income ratio lower than 43% would boost your chances of approval. In addition, make sure you have a good job history and some cash reserves to make your case stronger.

Although getting approved for a refi with your bad credit may seem like a miracle, don’t just accept any deal. Make sure your new mortgage would be truly beneficial for you in the long run. If it wouldn’t improve your current financial situation, then keeping your current loan might be a better decision.

Own a Home in Michigan

Three Reasons You Should Become a Michigan Home Owner

Own a Home in MichiganAs Michigan’s economy continues to grow, it has become a center of attraction for property investors. There are so many things that contribute to this state attracting the attention of homebuyers, and not simply the fact that it is truly a beautiful place. While you have plenty of other states to choose from, know that MI is one of the few where you can live in comfort and even raise a family at ease.

To make things even better, with its affordable overall cost of living, you won’t have problems finding flexible Michigan mortgage rates that will suit your budget. Here are some reasons you would want to become a homeowner here:

1. Safe neighborhoods scattered all over the state

Safety is one of the most important factors to consider when looking for a place to live. Fortunately, Michigan doesn’t lack in this aspect. Yes, not all areas here boast of low crime rates, but it doesn’t mean that the entire state isn’t safe.

Remember that MI has about 200 cities and towns, and a lot of these have quite the good safety ranking and record. Bloomfield, Plymouth, Northville, White Lake, and Farmington Hills are among the top scorers in terms of safety.

2. Enjoy a good quality of living in any one of the best cities in the state

Another quality of Michigan that draws the interest of property investors and keeps its current residents happy is its overall quality of living. For instance, there’s Grand Rapids, ranked 7th best place to live in the entire country. With MI boasting of an amazing combination of outstanding natural beauty and urban modernization, you have numerous doors of opportunities for earning a living here, either as an employee or a business owner.

3. You don’t have to go out-of-state to see and experience something new

Whether it’s the snowy or the sunny season, Michigan is a treasure trove for something new. There are many things to see, hear, do, taste, and experience without even having to go to another state. From its microbreweries, acclaimed restaurants, and vineyards to its large freshwater coasts, MI satiates all the enjoyment needs of its residents and visitors.

After knowing these things about Michigan, you’ll definitely find yourself wanting to buy a home and live here.

Buying Your Dream Home? 3 Hacks to Breeze Through the Mortgage Application Process

Mortgage Application ProcessWith a little bit of planning, you can ease through the course of the mortgage application and snag friendly interest rates. Eligibility for a mortgage remains an elusive dream for many people due to their poor financial history. However, that does not have to lock you out from owning your dream home.

Redeem your credit score and improve your chances of getting attractive mortgages in Salt Lake City. Here are some ways:

Practice a Saving Culture

Saving money to buy a house takes a considerable amount of self-discipline and commitment. Other than coming up with a sizeable down payment, such a habit endears you to the lender. It demonstrates your improving financial status and ability to commit to a payment plan. You need to convince lenders that you have sufficient and regular income. You need to demonstrate your ability to meet your financial obligation without strain. Otherwise, you are likely to default on your payments if the bank adds to your current debt burden.

Put Your Self-Employment Dreams on Hold

Unless you have absolute certainty that your venture will take off quickly, you might want to remain in employment for a little bit longer. As part of the application process, the lenders will require financial records dating back 12 months. Missing paychecks and irregular incomes set off red flags that could see to the rejection of your application. If you operate on commissions, you need to compile the records of your income while stating your case. You must also provide sufficient proof of your ability to repay your loan consistently for a long time.

Clean Up your Financial Conduct

For the year leading up to your application, make sure to eliminate blunders on your financial records. Lower your credit burden by using little of your credit limit and pay the bills in full and on time. Not only does this behavior reflect positively on your records, it also lowers your perceived risk by mortgage lenders.

With proper planning, you can keep your mortgage application process and keep your repayments rates affordable. With a little effort, you can repair a bad history and increase your chances of success.

A 4-Step Almost-Effortless Process for Choosing a Good Accountant in Auckland

Accountant in AucklandAccountants have gotten a bad rap for doing nothing more than crunch numbers. However, a competent, talented accountant can actually do more than that.

Accounting North Ltd may agree that the best accountants in Auckland don’t just audit and create financial statement analyses. They are also powerful business partners who can help you build new strategies to push your business ahead.

If you haven’t already done so, it’s time to partner up with an accountant for your own business. Here are the things you need to do.

1. Ask your Contacts for Referrals

Reach out to your network and ask if they know anybody they would recommend. Cast your net far and wide, including your family and friends as well as colleagues and business partners. You can rely on word of mouth to evaluate the various accounting firms competing for your attention.

2. Choose a Qualified Professional

In New Zealand, accountants have to be a member of professional accounting bodies, particularly the Chartered Accountants of New Zealand (NZICA) and the Accounting and Finance Association of New Zealand and Australia (AFAANZ). To stay a member, accountants have to prove they are following accounting best practices and codes of conduct.

3. Do your Research

You’ll need to know how big the firm is, what type of services they offer, and how much their fees are. Ask for client references as well so you can find out if they have a good working relationship with them. If they refuse to provide references, consider looking elsewhere.

4. Meet Them to See If you’re a Good Fit

Before signing a deal, it’s important to get to know your accountant better to make sure you are working on the same level. Your accountant must be able to establish a good rapport with their clients and have good communication skills to actively discuss the state of your finances with you.

Choosing the right accountant for your business is one of the most crucial things you need to do to keep your business running properly. A good accountant will not only keep your finances in order, they can also provide sound financial advice to help you move forward with your business plans.

What You Should Know Before Signing That Mortgage Deal

Mortgage DealBuying a house is a dream of many, but it rarely materializes becomes a reality due to poor planning strategies or management of funds. Unlike them whose mortgage deals turned sour, your experience may be different and you can have a positive story to tell.

Knowing what to expect from a mortgage is the most important thing before signing any deal. Make a decision on the type of financing you want for your mortgage. City Creek Mortgage and other experts noted that FHA streamline is a great program and it has helped many citizens acquire mortgages.

Obliterate Debt from Your Life

Nobody loves debt and getting rid of it could do you good than harm. Although the different debts you may have could amount to a small figure, these payments could cost you a low credit score and higher monthly payments. Paying the debts out will not only clear your credit profile, but also will give you fewer monthly bills to pay.

Can You Afford It? Examine Your Budget

It is okay to want the best home, but it is better to be sure that you can afford a particular home. Financial lenders may try to stretch your qualification ratios. This could excite you, nevertheless, but it is wise that you stick to the basic FHA streamline guidelines.

Knowing how much you spend will give you an idea of what mortgage you can afford. Conduct a budget examination for some months before engaging yourself in any mortgage deal.

Get Your Documentation Ready

Before getting a mortgage, you need basic documents such as your credit report forms, income tax returns, or even bank statements. Have these documents at hand before applying for a mortgage and your approval process will get easier and smoother. Lastly, do not neglect the closing costs (often paid in cash). This depends on your location and the type of mortgage. To compare the loan types, down payments and equal terms are among the different sources of mortgage funds.

These are only some of the things you should know. Take good note of them if you want to get the home of your dreams.