Monthly Archives: February 2019

Advantages of Fast Loan.

Everyone who wants to borrow online loans is wondering which is the most advantageous quick credit. We are all looking for a quick and lucrative loan. For a quick loan to be profitable, it has to be useful, to bring us benefits, to have advantages.

Advantageous quick credit must be concluded on favorable terms, be in our best interests, have an account, bring us results and benefits. The most important features of the bargain loan:

  • Application mode – there must be a possibility for online submission , this will save us time, transport to the offices of the company, waiting on the spot.
  • The documents we present must be few, only the most necessary: ​​ID card . This will ensure discretion, we will not visit instances, ask for references and certificates from the employer. With the creation of the personal register in the NSSI, registered financial companies for quick loans can draw data on income, paid social security contributions and others. From the Central Credit Register of the BNB, they can get a clear idea of ​​what credits we have withdrawn in the last 5 years, what payers we are – perfect, without delays and obligations or with overdue loans.
  • Interest has always been the most important criterion for a lucrative credit , the annual percentage rate of charge gives the most adequate idea of ​​the benefit. Fast loans are granted at high interest rates – this is undisputed. There are quick credits that are granted without interest, without any cost, you are returning as much money as you have taken – these are loans granted by companies under two conditions – to be clients of the companies for the first time and to refund the money for a definite time. We know that quick credits are allocated small amounts of money for urgent emergency needs for a short period of time. If we take such a loan, we can do our job, fulfill our purpose and return it within the set time, it will really be profitable for us.
  • Fees, commissions and other costs – they add up the credit, it would be advantageous for us to choose a company that does not charge them.
  • The time for approval of the bargain loan must be within minutes, and then usu- ally use the money.
  • Ways of receiving and returning money must be accessible and easy – by bank transfer, cashier, Easy Cash, ATM and other acquaintances.
  • The amount of repayment installments, the maturity date, must be consistent with our capabilities .

Vivus

Vivus

 

  • Expensive fast online credit within minutes from a solid international company.
  • Transparent conditions, size from 50 to 1,300 leva, repayment up to 30 days.
  • You yourself choose an amount and a term, apply only – credit only against identity card .
  • Without warranty, no warranties are required.
  • To get a loan from the company, you need to be 19 years old, meet the minimum credit requirements and provide the requested information.
  • Each candidate is individually assessed and granted a loan in line with financial capabilities and needs.
  • You may extend the repayment term by 7, 14 or 30 days unlimited times within one calendar year, you may withdraw an additional amount.
  • Every first loan is free – credit without interest up to 400 leva, there is no cost, you only refund the amount you have taken.
  • There are no fees for registration, application, absorption and management of the money on the loan, no fees and commissions for early repayment.
  • Clear, flexible terms of absorption and repayment – you can pay by bank transfer, Easy Cashier, Cash Terminal.
  • Working hours – on weekdays, weekends and public holidays.

Feratum

 

 

  • A lucrative quick loan from a secure financial partner.
  • You declare from any mobile device, approval in minutes, you receive the money the same day.
  • Loan to pay – from 50 to 1 000 BGN, repayment term from 5 to 45 days. If you can not handle the payout, you can apply for an extension of 7, 15 or 30 days.
  • Every first loan to a salary returned within 30 days is 0% interest, 0 leva taxi, you return as much money as you have taken.
  • Fast online loans in monthly installments from BGN 400 to BGN 4 000, from 2 to 12 months. You can repay the loan in parts, you can refinance.
  • Application conditions: Persons permanently living in Bulgaria aged 18 to 70 with permanent address registration, income and good credit history.
  • Credits with minimal documentation for the shortest possible period.
  • No hidden charges, there is a grace period for repayment.
  • The company operates 24 hours a day without any breaks.
  • You can get an official document on the status of your credit.

How to Do the Financial Planning Of Your Company?

 

 

 

 

Achieving a goal or meeting a goal becomes much more feasible when good planning and strategy definition is done earlier.

When it comes to the performance of a company and its financial results , the story is no different. Those who want to maintain a sustainable business with possibilities for investment and growth in the future, need to make a financial planning and stick to it to achieve their goals.

Although discipline and organization pose a challenge for the manager, some steps can be taken to ensure successful planning and achieve better results.

And if you are thinking about adopting this practice in your business, we have listed 7 tips that will guide you in applying effective financial planning. Check out!

1. Make a diagnosis of the current situation of the company

1. Make a diagnosis of the current situation of the company

 

According to the Administrators portal, the planning consists of:

  • establish the current state;
  • define goals and targets;
  • carry out an analysis of the current situation;
  • analyze the influencers;
  • draw up a plan of action ;
  • make necessary checks and adjustments;
  • continue the cycle.

Thus, the diagnosis is precisely about establishing the current state and the context in which the company is in order to then proceed in the next stages of planning. This diagnosis can be made from the study of the routines, the data collection and a historical comparison of the results.

With this, all information regarding sales volume, production, inventory, costs and revenue, market positioning and marketing strategies will be known and will serve as a basis for defining the next steps to be taken.

The main objective, based on this diagnosis, is to identify examples to be followed and to establish the points that need to be modified. Correcting the problems identified is a major step towards establishing an efficient and profitable business activity.

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2. Develop a financial schedule

2. Develop a financial schedule

 

The timeline is a very important tool for those who are conducting financial planning. From this date and deadlines are established for the implementation of the strategies and the achievement of the targets.

Once this schedule is defined, it is fundamental to stick to the deadlines and have discipline in the execution of the activities. Some technological tools can help in keeping what was planned and applying the deadlines correctly.

An example is Google Calendar , the digital version of the object responsible for organizing all the appointments over the days. Google Calendar allows, through an application installed on the mobile phone, the programming of all the obligations established for a good financial planning.

It also has alerts defined by those who use it who notify in advance which appointments are scheduled. All this in a practical way and in a device that is always at hand these days.

3. Set goals and objectives

3. Set goals and objectives

 

Those who want to follow a planning need to set clear goals and objectives, both for the manager and for those who work with him seeking to achieve what was established.

In order for these goals not to be dominated by frustrations, one must understand the context and possibilities of the business well. Henceforth, objectives that are challenging but feasible must be defined.

An example is, after detecting a cost-cutting opportunity, to determine a step-by-step goal that would allow such a reduction not to cause negative impacts. In this way, adaptation to the new scenario will be more solid and permanent. Otherwise, relapses can generate both financial and time losses.

4. Determine a cash flow

4. Determine a cash flow

 

Cash flow is a control of everything that comes out and what goes into the company’s cashier. Thus, determining a cash flow allows for greater organization and better management of finances, since it facilitates the visualization of the adjustments that can be made in the expenses when the objective is to optimize the realized activities.

5. Conduct periodic evaluations

 

 

The constant evaluation of what has been diagnosed and the fulfillment of what was foreseen in the schedule are practices that must be constantly reviewed.

This is because, along the way, modifications or improvements can be detected that will optimize your operation and bring you even closer to the goal of having a sustainable company with growth potential.

Having a periodicity at this time is important so that a strategy is guaranteed that is always up to date with the reality of the company .

An interesting alternative is to set a specific day in the schedule for doing this activity with the time interval that you think necessary between revisions.

6. Negotiate prices and payments

6. Negotiate prices and payments

 

Just like in personal life, negotiating prices and payments in a company brings savings and opportunities that provide a more comfortable and healthy financial situation. Therefore, this should be a priority when it comes to determining effective financial planning.

For suppliers, for example, ceding discounts or renegotiating deadlines is interesting for customer loyalty. The company can use this as an argument for more interesting conditions that fit the budget better.

In this way, this can also be a criterion to define which partners contribute to the development of the business and its growth. An employee who is concerned with analyzing the proposals received and offering competitive advantages over other competitors needs to be properly valued.

7. Plan investments

7. Plan investments

 

Once you’ve implemented all of the above tips, you’ll be able to organize accounts and design investments. Whether it is to increase sales volume, hire more employees, or improve infrastructure, the resource needed to make improvements will be available once the planning is well established and the goals achieved.

Although for many managers this subject is considered as extremely complicated, it is possible to overcome the difficulty and obtain information that will help you in a more productive management .

Ready to implement effective financial planning and enjoy the good results it will bring?

Now take the opportunity to deepen your knowledge in accounting and discover what is DRE and how it can help you in the financial statement .

 

EVERYTHING YOU WANTED (AND YOU MUST) KNOW ABOUT SPITZER!

 

One of the most annoying concepts in the mortgage world is the Spitzer board, which I think has two annoying things:

  1. His name – could have found a much nicer name in my opinion …
  2. His method of calculation – which is very much in favor of the bank and not in favor of the customer

In the past I’ve written a bit about the subject, but I feel it’s a good time to analyze it a little more deeply in favor of those who take a mortgage at this time.

In a few simple words, I will explain that the Spitzer method is the method by which the loan repayment is calculated – its calculation is somewhat complex (and annoying), but it is important for me to get two main things from this post:

  1. That you understand how the method is calculated “in a big way” and perhaps you will look at other alternatives
  2. That you understand how the loan period significantly affects your return (which is actually due to the method itself)

So what is the Spitzer board?

So what is the Spitzer board?

When you borrow money from the bank, you are supposed to repay a certain amount each month.

Let’s assume that you have to pay the bank 100 NIS for 10 days at a 10% interest rate. In practice, you are supposed to repay the principal (NIS 100) plus interest (NIS 10, which is 10% of NIS 100).

Since the loan was given for 10 days, you are supposed to return NIS 11 each day to the bank.

The first day came and you came to the bank with NIS 11, and the natural and normal thing that had to be done was for the bank to take NIS 10 for the fund and NIS 1 for the interest rate.

After five days you were supposed to pay back NIS 55, which was supposed to be returned to the bank NIS 50 for the fund and NIS 5 for the interest rate,

a day

payment

Foundation

interest

Balance of principal

1

11 NIS

10

1

90

2

11 NIS

10

1

80

3

11 NIS

10

1

70

4

11 NIS

10

1

60

5

11 NIS

10

1

50

So that’s it, it does not work that way.

In the Spitzer method, you pay the bank NIS 11 each day, but the distribution between the principal and interest is different, and it tends in favor of the bank.

For example, from NIS 11 to NIS 9, for example, they were channeled to a fund, and NIS 2 was redirected to interest. In fact, the table should look like this:

a day

payment

Foundation

interest

Balance of principal

1

11 NIS

8

3

92

2

11 NIS

8.5

2.5

83.5

3

11 NIS

9

2

74.5

4

11 NIS

9.5

1.5

65

5

11 NIS

10

1

55

Why is it really calculated this way and why is not it in our favor?

Why is it really calculated this way and why is not it in our favor?

Please note what happens after 5 days, instead of having to pay the bank “only” 50 NIS (as in the first table), we actually owe him 55 NIS and instead of the bank charging interest for these five days of NIS 5 he charged interest In the amount of 10 NIS (Needless to say that this is an example only and is not strictly accurate, but only intended to illustrate the method).

What I really want to say is that the bank initially takes from the repayment amount first of all a relatively high proportion of interest and a small proportion of the principal.

It is good for the bank and bad for us for several reasons:

  1. The height of the fund drops slowly – and then we actually pay more interest (because it is always calculated on the total remaining fund)
  2. Early repayment – if we want to repay the mortgage ahead of time, then basically the bank has already “earned” its interest rate in the first period of the loan and we will remain a larger fund to repay (remember, when we repay the mortgage, we are supposed to pay the remaining principal and not the interest And thus the Bank will prefer to charge the interest rate at the outset).

Do you understand how the method works? Beauty, that’s good! Let’s continue …

The Spitzer Effect of Years

The Spitzer Effect of Years

It is very important that you know that the longer the loan, the more the method will work against you. When you take a loan for 30 years you pay 70% of the monthly interest payment and 30% of the loan. % For interest and 57% for the fund.

I present to you in the table how the distribution between the interest rate and the fund is made over a period of 30 years:

Year

Yarden Keren

Payment for a fund

Payment for interest

0

1,000,000

30%

70%

1

982,390

31%

sixty nine%

2

964,062

33%

67%

3

944,987

34%

66%

4

925,136

35%

65%

5

904,475

37%

63%

6

882,973

38%

62%

7

860,595

40%

60%

8

837,305

42%

58%

9

813,066

43%

57%

10

787,840

45%

55%

11

761,585

47%

53%

12

734,262

49%

51%

13

705,825

51%

49%

14

676,229

53%

47%

15

645,428

55%

45%

16

613,372

57%

43%

17

580,010

60%

40%

18

545,288

62%

38%

19

509,152

64%

36%

20

471,544

67%

33%

21

432,403

70%

30%

22

391,668

73%

27%

23

349,274

seventy six%

24%

24

305,152

79%

21%

25

259,232

82%

18%

26

211,442

85%

15%

27

161,704

89%

11%

28

109,940

92%

8%

29

56,068

96%

4%

30

4,758

100%

0%

And another little sharpening

The ratio between the payment of the principal and the interest derives solely from the years and not from the duration of the loan.

In other words, if you took a loan for 30 years, the ratio would be 70% in favor of the interest rate and 30% in favor of the fund, and that’s only because you took the loan for 30 years and not because it is the first year of the mortgage repayment.

If, for example, you take a loan for 25 years, then the ratio will be 65% in favor of the interest rate – 35% in favor of the fund.

It is important to understand that the myth says that “the more you progress in the life of the loan the better your situation” – the myth is true (because my situation really improves and I return more than the fund as the years pass), but that does not mean that in any loan period I will pay straight 70% for the interest rate – and 30% for the fund, but it depends only on the number of years I took.

In conclusion,
I have no doubt that it is annoying and not so understandable. I am less interested in explaining how the method works in its mathematical / accounting / financing sense, but to show you the matter in a big way, and thereby explain why you should shorten the mortgage.

I hope to write in the next post a little about another method of calculation called “Shona Fund” and will discuss its characteristics and its comparison to the Spitzer board.

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