“An investment in knowledge pays the best interest.” – Benjamin Franklin Financial Literacy has been defined as the ability to use knowledge and skills to manage financial resources effectively for a lifetime of financial well-being. We can use financial knowledge to make better decisions. From everyday spending to long-term planning, intentional money management could mean leveraging money or access to it to Read More
A few things you should know when financing a vehicle purchase.
If you would know the value of money, go and try to borrow some – Benjamin Franklin Generally, for many, lenders will preapprove a loan and quote an interest rate, loan term, and maximum loan amount. The factors that are considered for approval are credit score(s), the terms of the transaction, and the type of vehicle. Once approved, a conditional commitment letter is provided. The Consumer Financial Protection Read More
What are options one has when in dispute with another member of the limited liability company (LLC) or when you have an ownership interest in a corporation?
Governing documents of an LLC, the “operating agreement,” should provide detailed information on how most ownership disputes within the business should be dealt with by a fellow member. An operating agreement should identify the responsibilities of each member and the first course of action to be taken to resolve a dispute. Alternatively, an operating agreement may provide that the members are not liable to each Read More
Is it too late to file a lawsuit?
A statute of limitation is a law that prescribes the period to file a legal claim. In general, once the statute of limitation “runs out” the legal claim cannot be pursued. The duration under which you can file a lawsuit varies depending on the type of legal claim and related conduct. Some unlawful conduct could extend the deadline, or “toll” a statute of limitation. Statutes of Limitation for claims based on Read More
A Few Tips on Turning Your Hobby into a Business
“Strive not to be a success, but to be of Value.” – Albert Einstein You don’t have to quit your job and go into debt to start a business. It’s often a good idea to start slowly to allow the freedom to experiment and learn as you go. Generally speaking, service businesses are the businesses that require the smallest initial investment and may allow you to operate from your home. You should check with your city Read More
Should I Buy or Build a Home?
“A house is made of walls and beams; a home is built with love and dreams.” – Unknown So, it’s the new year and you are thinking about a new home. You, perhaps, are considering buying one you like and adjusting it to suit your needs or possibly building a home to your likes and interests. It is understandable that you would like to evaluate all your options, given it will likely be the largest investment you may Read More
Title Insurance-Why you need to understand about how it may or may not provide protection.
“Price is what you pay. Value is what you get.” – Warren Buffet You bought a property to build your dream home and information that will affect your ability to build or access the property was not disclosed. Can you file a claim with the title insurer? Generally, it is recommended that in addition to the required lender’s policy you purchase an owner’s policy given the huge investment in purchasing a Read More
A few reasons why you should review the “arbitration” section of a contract?
"Win or lose, do it fairly." –Knute Rockne What is Arbitration? Arbitration clauses are found in contracts for car purchases, home construction, bank accounts, student loans, cell phones, employment, nursing homes, and more. It is a private procedure in which a legal dispute is submitted to make a binding decision on the dispute. When arbitration is mandatory it deprives of the opportunity to go to court. It can Read More
How to Avoid Tax Scams
Many of us know of someone who has lost money and possibly their personal information to tax scams. The most important thing to share is that the Internal Revenue Service (IRS) will not initiate contact with a taxpayer by email, text message, social media channels, or phone call to request personal or financial information. Here are a few telltale signs of tax scams: A phone call demanding immediate Read More
Tips to Keep Your Banking and Financial Information Safe When Online
This month’s article offers a few tips on precautions for internet financial transactions. Tip 1: Take extra precautions for logging into banks and other financial accounts. Create “strong” user IDs and passwords by choosing combinations of upper-and lower-case letters, numbers, and symbols that are hard for a hacker to guess. Your birth date, address, or other publicly available information can be easily Read More
