How to Recover from Financial Crisis?

Recession which came last year affected many people all over the globe. Especially in United States many people lost their job, home, credit score and many things just because of this financial crisis. Many Americans met with depression too, just because of this small term. Now as the market is recovering from the recession, it is a good time to analyze the causes of the financial crisis and to get the ways through which we can recover from it.

Analyze yourself: The very first thing, which we require from recovering from the financial crisis, is to analyze ourselves. Check the reasons why we reached to the current situation. Analyze honestly the drawbacks, because of which we lost our jobs, while other person is still working in the same company. There might be some reasons, and we can only discover it and rectify it. [Read more…]

The Bear Market is Not Your Biggest Financial Risk

bear marketThe past five years have been some of the most economically troubling in recent memory. Large banking institutions have come under scrutiny, entire corporations have gone bankrupt and the financial markets have taken a battering. Indeed, this news has made headlines throughout the world; the word “crisis” garnering an unprecedented amount of attention. While historians may look back upon these times and cite the global financial meltdown as perhaps the most newsworthy story, the truth of the matter is that most businesses face a much more acute risk other than the overall financial outlook. A properly managed small to medium-sized business needs to consider much more than the overt threat of an economic downturn but rather needs to be prepared for other unforeseen circumstances which can gravely threaten its day-to-day operations Without proper preparation, the organisation could suffer grave consequences.

General Liability Insurance

Thus, we may begin to understand the necessity that has arisen for small business insurance. These policies can go a long way in protecting the needs of a budding enterprise and are essential for peace of mind and stability. However, not all policies are alike and a business frequently needs to carefully consider which policy suits the best. For instance, general liability insurance is a means by which a company can protect itself and its employees against damages is its services, products or operations cause undue harm to a third party. While this type may be the most frequently seen, other packages may also prove relevant depending on the needs of the organisation.

Worker’s Compensation

In these times of rising medical costs, an adequate worker’s compensation package is essential to providing lost wages and any medical benefits to an employee that may be injured while performing his or her duties on the job. Although this is obviously important from an individual standpoint, small business owners need to remember that by enacting this policy, an employee waives his rights to sue the company, therefore mitigating the risk of litigation costs in the unfortunate event of an accident.

Director’s and Officer’s Insurance

This lesser-known policy covers the upper echelon of a company should their actions prove to be financially or operationally negative to the company’s performance. This can be important if tough decisions need to be made which carry a risk of sending the business down a difficult past. As many of these choices carry with them the chance that a company’s profits may fall or that the workforce may have to be downsized, a director or other main stakeholder cab be protected against any claims of loss or damages that may be the result of a lawsuit.

Data Breach Insurance

As many businesses are increasingly storing sensitive information electronically, it is important to be insured against any loss, corruption or theft of this data. These policies cover against such occurrences and will give the business protection against such an incident.

It should be noted that general liability is frequently not enough coverage for the average business and this policy should be put in place with other tailored packages, a few of which were previously mentioned. The specific insurance needs of a company need to be carefully weighed in relation to its scope of operations, future expansion and employee concerns. By choosing the correct policies a small to medium-sized business can rest assured that the needs of its employees and its customers are being catered to. Doing a thorough search online for main business insurance providers such as AXA Business is definitely a must-do. While the bear market may have made the headlines, the need for a comprehensive small business insurance plan has never been greater.

How to Find A Great Family Lawyer At A Good Price

good lawyerWhen going through drawn out and emotionally draining legal proceedings it is vital that your legal representation understands your needs and wishes.It’s helpful to consider some basic questions about the kind of divorce services you are looking for and the degree of involvement you want in the process.

Your Involvement

Consider how much you want to be involved in the process. Do you want to be pouring over the legalese or would you prefer to leave all that to lawyer. How in control do you want to be? A really experienced lawyer will obviously cost more; would you be happy employing the services of someone less experienced but cheaper? Think carefully about the demands of your budget – if you are on a shoestring you may qualify for legal aid.

Working Relationship

Consider whether factors like the gender or the cultural background/ understanding of the lawyer are important to you. A comfortable working relationship is vital, particularly if you require legal counsel for a lengthy amount of time. A typical divorce proceeding can last from anywhere between five and eight months.

In terms of their professional background, you will want a lawyer experienced in the appropriate field. In the U.K this means someone who specialises in family law or matrimonial law. Although you may want your legal matter settled outside of court, and in many case this is the most likely outcome, there is always the possibility that the courts will have to be involved. Make sure your lawyer has some experience in the courtroom.Accreditations to look for include Resolution, formerly known as the Solicitors Family Law Association.Finally, it is crucial to avoid conflicts of interests, though a good lawyer should always state these – this simply means ensuring representation hasn’t acted on behalf of the concerned parties before.

What About The Law Firm?

There are some basic niceties to expect from a law firm, or really any service you engage professionally. Prompt responses to enquiries and clearly outlined costs and procedures are good indicators. If they struggle to return calls at promised times, then it may be time to look elsewhere. Assess your comfort level when you go to the firm’s offices – how do they greet you or deal with others who may be waiting? Don’t rush the decision to engage legal counsel.

Dealing With A Lawyer

It may be tempting to unload a wealth of personal detail to your lawyer, particularly in the case of marital disputes. While your lawyer should always be sympathetic and compassionate to your case, you are paying by the hour and time not spent discussing legal matters will add up to extra costs. If you are struggling emotionally, it may be a sign that you lack important sources of support.

Your lawyer should always maintain a degree of detachment, giving you balanced advice which doesn’t involve personal attacks directed towards the other party.

Photo by: ericejohnson

What to do Wednesday in Personal Finance? Is the Adjustable Rate Mortgage becoming extinct?

Monopoly, interest rate, interest rates, adjustable rate mortgage, arm, fixed rate mortgage, vha

I was reading an article last week that made the motion that adjustable rate mortgages (ARM) are dying.  For starters, adjustable rate mortgages are loans where the interest rate changes periodically.  Generally they are a good option when you are buying a house and the prevailing fixed rate mortgages rates are high.

This notion did not surprise me because interest rates are at historic lows for fixed rate mortgages.  You would be silly not to lock in a mortgage at these rates now, the interest rates are likely not going to get any lower than they are in your life time.  Listen they are at rock bottom now, I was having a water cooler discussion at work just looking for a consensus with my older  wiser co workers to see if they had ever seen or remember rates this low and none of them could! 

What do you think?  Do you have an ARM?  What was your reasoning for going with an ARM vs a fixed rate? 

Well my wife and I have a fixed rate loan.  We thought a few years ago that we had to lock in quick on our rate which is 5.00%, so we locked in at the onset of going through the process to secure the mortgage.  Little did we know that rates would continue to plummet!  Right now rates on a 30 year fixed rate mortgage are around 3.86% according to   

According to the Valentine’s Day press release from Freddie Mac, 95% of refinances were to fixed rate loans.  Historically, the ARM loans were great for people looking to have low fixed interest payments at the beginning of the loan then the variable afterward.  Why the great exodus from adjustable rate mortgages? 

Present fixed rate mortgages offer historically low interest rates.  You can lock into a 15 or 20 year loan at payment close to that of a 30 year in the past.  Rates on 15 and 20 year fixed rate loans have generally are a fraction of a percentage point lower in interest as well for the shorter term.  Homeowner fear of rising interest rates has caused a surge in refinance activity in the recent months.  Rates cannot go below 0% and 3.86% is pretty darn close to that, so why not a fixed rate? 

Just my two cents on the fixed rate mortgages, I do not think you will in the near future see lower rates than we are currently seeing today.  The Federal Reserve and Ben Bernanke do not see any interest rate increases in the foreseeable future. 

Get out there and get it refinanced or that dream house you were talking about!  But remember to fit it into your budget and make sure that you will indeed break even in your refinance. 


PHOTO BY: woodleywonderworks

Malware / Trojan / Virus – Is this a familiar sight for you?

malware, trojan, virus

Well today I had my first experience with Malware.  I was not able to post a regularly scheduled post as usual.  I woke up this morning to check out the website to find a bunch of popups on the site once I logged in.  Talk about shell shock and not having a clue what to do.  Thankfully my fellow Yakeziers were there to the rescue with some valuable posts to help me though this debacle.

I quickly got on the phone to my hosting company to see if they had any products that they offered for free to help me remove.  I don’t know if anyone has ever used Inmotion Hosting, but their customer service is outstanding.  I do not have a financial relationship with them at this time other than they are the hosting company.  Wow, I have never been so helpless with respect to technology.  They took care of me every step of the way.

As the day progressed as they were researching what was wrong all the worst ran through my head.  What if I need to do everything all over?  Would I throw in the towel and call it a day?  I had started the blog only a few weeks back but it would take quite a bit of work to get it back?  I know backups right, but the last one I had done was earlier this week and being a new site that is ages ago.  Needless to say I have set a schedule for the backups.

Sitting there thinking about Sucuri and how much it costs for a year subscription made me wonder if I was meant to be online and blogging.  Sure $90 dollars isn’t much to a website that has been around for a while, but to a recently built on it is a lot.  I could easily start getting nickeled and dimed by various websites offering a level of protection, I was new what do I know.

At the end of the day, InMotion contacted me to let me know that they had resolved the problem. Wheeewwwww

Needless to say a lot of time and aggravation I am here to say back up your site and read the forums on Yakezie, as they will provide you a lot of information that a newbie doesn’t know.  I came away unscathed and didn’t spend a dime, all in all a good day!

PHOTO BY: BitDefenderES

Valentine’s Day for an MBA student – Celebration

Heart made of shredded money!!

Yesterday I was sitting there pondering the meaning of Valentine’s Day you know very well about me i am MBA student which always focus on MBA study, when it struck me that it must have been made up by retailers to make it through the slow winter months.  Well at least here in the Northern part of the United States, it is bitterly cold and we tend to hibernate.

I saw earlier today on the National Retail Foundation website that the average person celebrating Valentine’s Day is going to shell out a whopping $126.03.  Men will spend about $168.74 compared to $85.76 spent by women. L

Never mind it is the women’s holiday, I would much rather see the smile on my wife’s face from something I gave her.

Ever since we have been a one income household the dollar figure has steadily declined in the gifts that we have given to one another.  When we first started dating, I was giving her a lot of jewelry but once finances became tighter that was one of the areas of excess spending that we tried to curb.  Then bring on the two little kiddies and we have curbed just about all non essential spending.

In all fairness, my wife has a pretty good start to the beginning of the year.  It goes for her Christmas, then her birthday near the end of January then Valentine’s Day.  This period of the year sets us back a little, but we have another 10 months to regain ourselves from this.

When you are tracking your family finances and you are reviewing your budget, do you budget for holidays like this and birthday parties? Or do you have another bucket where you drop the non expected but expected events?  We have been trying to put aside money for these but it is very hard on one income.  Now that Mrs. MBA is working we should have no problem setting aside some for the birthday/Christmas/holiday fund.

So would you say you spend more or less than the average?  I know when we were dating I spent significantly more but now I spend about the average…

Photo by: Lisa Yarost