How to Know When You Can Finally Afford to Buy a Home

If you have always dreamed of owning your own home, you might be afraid that you can't afford one. 

Even with the right planning and months or years of saving, it can be a big step that doesn't always seem attainable. 

However, there are a few signs that you can look for to determine if you truly can afford to purchase a house. These are a few signs that your bank account can handle a mortgage payment.

Should I Buy a Home or Just Keep Renting? For a long time, conventional wisdom seemed to be that you grow up and buy a home because that's just what you do. But lately, people are realizing that it isn't always the smartest financial move. Obviously, the housing crisis has a lot to do with ...

You Have a Down Payment Saved Up

First and foremost, you will probably be required to save up a down payment to purchase your home. In many cases, you will need to have at least 20 percent of the price of the home in savings. 

Even if you don't have to pay this much, having saved up a down payment is a great first step. After you have saved for a down payment, consider allocating that monthly savings amount to something else like closing costs. 

Once if you have reached a savings goal, continue to add that money to your savings so it never feels like a burden, but rather an expected “expense” each month. 

You're Paying All of Your Bills On Time

It's important to be paying all of your bills on time before you think about purchasing a home. Not only do you have to worry about your credit rating, but you don't want to fall even more behind on your bills after purchasing your home. 

If you can comfortably pay all of your bills and have money leftover to save, buying a house could be a good option for you. Ideally, you should be putting money into your savings for a house that equals what a monthly payment would be. 

This will allow you to see how much money you have leftover if you really did have a mortgage payment. 

You Qualify for a Mortgage

Before you can purchase a home, you have to ensure that you qualify for a mortgage. Luckily, you can find loans which can make home ownership easier than you think. 

For example, if you are a veteran or active service member, you can purchase a home with a VA loan, which requires no money down. Take a look at Low Va Rates to find out how you can afford to buy a home. 

You Have an Emergency Fund in Savings

It's important to have an emergency fund in your savings account. Then, if something goes wrong with your home, you will have the money that you need to cover the expenses. Your emergency fund can also help you if you fall behind on your mortgage due to unforeseen financial emergencies. 

Your Income is Steady

Your income should be steady, and you should know how much money you will bring in every month. If your income is unreliable, then you will need to be able to make your mortgage payment with the smallest amount of money that you receive in a month. 

This is a good indicator of how much you can really afford for a new home. 

You've Had the Same Job for a While

Your mortgage lender will probably want to know that you have had your job for a while. Different lenders have different requirements, but you will probably need to have the same job for at least one year before you can look into a mortgage.

Don't Let Your Student Loans Affect Your Ability to Buy a Home A recent study by Goldman Sachs Group Inc. reported that graduates with a debt burden greater than $25,000 are less likely to own a home compared to those with smaller financial burdens. Millennial's are stricken with high debt levels, which have in ...

Purchasing your own home can be a wonderful milestone. Although you might be afraid that you can't afford to purchase a home of your own, these are a few signs that it is finally time. 

If these things apply to you, then you can schedule an appointment with a banker to find out more about qualifying for financing and purchasing your first house.

5 Reasons to Become a Trader

English: A view from the Member's Gallery inside the NYSE (Photo credit: Wikipedia)

Many scams and illegal schemes have created a negative perception of the stock trading business. 

The truth is that, in reality, this has very little to do with real stock trading and should not be taken into consideration when thinking about it as a career. 

This can be very lucrative and dynamic work for those who are well-informed and who have the knowledge and know-how to make use of this information. 

Therefore, if you are considering becoming a trader, here are five good reasons why it is worth considering and how to make the most out of a profession that can be truly life-changing.

Working Hours

One of the best perks about trading online is that you choose your own working hours. It’s easy to escape that 9 to 5 routine and do what you like whenever is most convenient. 

Moreover, if you know you will earn more money if you put in more time, you will gladly do so due to the direct incentive of satisfaction in terms of profit and good deals made. 

How To Become A Day Trader - Investopedia
During the heyday of the tech bubble in the late 1990s, day traders made easy money buying and selling Internet stocks.

Vacations and days off are all up to you. You earn as much as you put in, so a balance between these two can be easily made.

Only One Boss: You

For all those people who have problems with

others giving them orders, authority that is based only on the name tag and shots called for them, trading online is the right way to go. 

None of these things are something that you will have to deal with in the future. You will have one boss and one boss only and that is you. You will be the one that calls the shots and the one that makes it all possible. All the success and all the failures will be just yours, so prepare for the responsibility that comes with the freedom. 

This kind of accountability may not be for everyone and not everyone is cut out for it. But if you want to be someone who takes control and responsibility, this is the job for you.

Learning about the World

There much to learn about the world that people who are not engaged in this trade don’t know about. 

However, once you have become immersed in the world of stocks and trade, you’ll start to become familiar with an enormous amount of information about many countries worldwide and their economies. 

How to Become a Wall Street Trader | eHow 
Wall Street is often glamorized as a fast-paced, exciting place to be in the financial industry. Because of this, many people dream about becoming professional traders at the New York Stock Exchange (NYSE)....

You’ll get to learn about the climate and its influence on agriculture. You’ll learn about geopolitics and the local politics in some countries in order to predict the rise of fall of their economies or certain stocks that are related to them. 

In time, you’ll become aware of how much you’ve expanded your horizons without even realizing it.

The Amazing Variety

Another really interesting aspect about stock trading is the way it’s done. There is not just one way to trade and there is not just one type of stock. This is a business with many approaches and you are free to choose the one you like best. 

Moreover, you don’t have to stick to just one. You are free to combine all your knowledge and to combine stock trading approaches along the way. 

For example, while you may want to conduct extensive research and create a source of steady income through a fundamental approach, meaning you hold on to the stocks for prolonged periods of time, there may also be times when you want something more dynamic. 

One option for this is to take an amount of money you are not afraid to lose and invest it into the dynamic environment of penny stocks. The infographic on this site is great introduction to this exciting option.

Dynamic and Less Risky than People Believe

Parkett-Boerse in Ffm (Photo credit: Wikipedia)

Some people say that there is less risk or at least the same amount of risk in starting a business as there is in trading stock. 

However, unlike in business, the upside of stock trading is that you can always change your mind, change your stocks, change the way you trade and do something completely different. 

This environment is anything but boring and is flexible enough that you can make what you want out of it. Risk is there, but the risk is manageable if you take proper precautions.
There are many more reasons for choosing the life of a trader. It takes courage, knowledge and education to become a stock broker, but in the end it is worth your while. 

All you are doing is investing in yourself and your own growth in every possible way: as a provider, as a person, and as a good businessman. It’s worth giving some serious thought to.

Career Advice for the Baby Boomer: If Han Solo is Old, Then So Are We

You think you have problems keeping a job and staying relevant. Consider an aged Han Solo from Star Wars fame. Even in space you have to watch your back to stay on top or even just in place. Remember who shot first.

A couple of years ago I was looking at references on a career hire, my number one pick for an administrative job search we had actually been doing. It was an essential job: challenging, interesting market, a major competitive employment.

And although it's unlawful to ask questions about age and even bring up that somebody may be too old for a given position, I do not believe I can get in any predicament now by pointing out that this prospect turned out to be well into his 60's.

Use the Force

I believed he was an excellent catch and his age was never mentioned. All the same, I required delicate information from the applicant -- and had no choice however to obtain it in an underhanded way to stay within the law. So I made use of the common euphemisms, inquiring about his "bandwidth" and "energy level" and "endurance" and "capability to endure continual pressure."

While speaking with the final reference on my checklist, he stopped briefly and stated, he grasped exactly what I was asking and would certainly tell me what I wanted to know. His response was then "The Force is really strong in him."

Ultimately, our prospect was presented the position, accepted ... and carried out exceptionally. Not a surprise, actually.

Do Or Do Not. There Is No Try

If you're a baby-boomer exec who's just recently arrived at the ripe side of 50, there's most likely less to fret about than there was a generation earlier. 

With the exception of the economy, obviously. Not that you do not need to watch out for a million boys who wish to eat your lunch-- specific things do not change.

Yet if the present trend in hiring is any indication, companies have actually become extremely risk-averse and seem more prepared than ever to sacrifice youthful edge and momentum for a couple of gray hairs.

Something that might need some modification, however, is that the risks are measurably greater. It hurts a lot more now when you get fired. As we commonly see in professional sports, being too important can wind up feeling like a downgrade. 

If you're not a hero, you're a bum, a has-been. Isn't that why we say "washed-up," by the way given that our professional has left the field and gone to the showers?

Growing older?

Growing older? Do not wait till you're at the top of your game to perform like you mean it. It will not come about unless you make things happen. We simply acknowledge the peak achievements in retrospect. Keep moving, keep fighting! 

Guard your bad ankle and attempt to prevent hits to the chin. Sure, you're vulnerable. C'mon, you're old! And yes, it's a lot harder to pick yourself up once you've been hit on your ass.

Nevertheless, ignore how you look, wipe your nose and make your way back into the huddle. There is no uphill or downhill any longer. There's simply being in the match. And hoping that "The Force" sticks with you.

If you ever envisioned that you may leave this world with your self-respect basically in one piece, think about the Heroic Han Solo: Winning by the regular miracle, however still losing one piece at a time. It needs to be an allegory for living.

7 Green Home Renovations that will Save you Money

Tired of watching the majority of your household budget disappear into utility costs every month? 

Fortunately, today's homeowners have many available resources that can help them keep heating and cooling costs down as well as save water. 

Following are seven green home renovations that will save you money. 

Energy-Efficient Windows

Whether you decide to renovate existing windows by adding weather-stripping and caulking or replace old, drafty windows with new ones, you'll save money on both heating and cooling costs. 

Newer and more energy efficient windows do a better job at keeping warm or cool air in (depending on the time of year) which allows your furnace or air conditioner to not work as hard. You can also look at investing into various window treatments such as blinds, shutters, or even window film to boost your windows to maximum energy efficiency. 

Solar Panels

Besides being an eco-friendly energy option that will significantly reduce your carbon footprint on the planet, solar panels will save you substantial sums on your electric bill. 

Today's solar panels are much more sophisticated than their counterparts of the past, so be sure to ask professionals such as AMI Energy / 1800 Solar USA for a rundown on the various benefits of having solar panels installed. 

Cool Roofs

If summer air conditioning bills are causing your temperature to rise, get a cool roof and enjoy the refreshing indoor atmosphere. Cool roofing technology uses reflective materials to repel the sun's heat from the surface of your home, resulting in significantly cooler interior temperatures. 

Programmable Thermostats

Programmable thermostats take the human error out of the picture and prevent utility bills from soaring when the last one out of the house for the day forgets to turn down the heat or air conditioning. 

Click Here For Kitchen Remodeling Ideas & Tips for Seniors

You can also operate these remotely to turn household temperature regulating devices on a half hour or so prior to your arrival. Some programmable thermostats can also heat or cool different rooms to different temperatures. Therefore, if you can change the temperature in the rooms you use the most versus the rooms you use the least. 

This ultimately allows your furnace and air conditioner to not work as hard which should hopefully allow you to save on the cost and life on both systems. 

On-Demand Hot Water Heaters

Traditional water heaters work by keeping a supply of hot water ready at all times. On-demand water heaters heat the water as it's used, so you never pay for hot water that just sits there cooling in a tank. 

Energy Star Appliances

Replacing your stove, refrigerator, freezer, washing machine, dryer, and other household appliances with those that meet the federal governments Energy Star standards will greatly reduce your household energy costs. Purchasing Energy Star appliances will also make you federal tax credits, increasing your savings even further. 

Energy-Efficient Landscaping

Lush, decorative landscaping is one of the major drains on the utility budgets of many American homeowners. Using native plants, drought-resistant ground coverings rather than thirsty lawns will help you keep water costs down. 

Native plants are an excellent choice because they are already acclimated to your specific region and won't need to be provided with extra water.

A good rule of thumb to keep in mind when deciding on home renovations with cutting costs in mind is that green choices will almost always put more green in your pocket in the long run. 

There are many other ways to take your home green and more energy efficient as well allowing you and your family to live comfortably without breaking your wallet and bank account on energy bills each month. 

How Seniors Can Get Help Paying Utility Bills

If you are just getting by and finding it difficult to meet only your monthly bill commitments, there is help out there. Many seniors may find it hard to ask for help or don’t know where to go. 

Low Income Financial Help has provided a great list of how to get help with utilities. In addition, if you are having other financial difficulties that go beyond utilities and can use some money help, there are numerous non-profits and government programs which can help. 

Non-Government Agency Help for Paying Utility Bills

The first place to look is your own utility or heating company. Utility company programs offer payment plans, free conservation measures, and shut off prevention as resources. Heating bill programs are another way of helping pay for utility bills. 

There are a number of Heating bill programs available, depending upon where you live. Non-profits, charities and social service agencies also offer a variety of assistance with utility bills. 

There are organizations such as Dollar Energy Fund, Operation Roundup, Salvation Family Emergency Services, and the National Fuel Funds Network. So before you begin jumping through the government’s hoops; look closer to home for some help with heat.

Four Main Ways to Get Help From the Government

However, there are at least four ways to get help from the government in paying your utility bills: Low Income Home Energy Assistance, the Weatherization Assistance Program, the Home Energy Assistance Program, and the Heating Repair Replacement Program. 

The Low Income Home Energy Assistance Program allows qualifying residents a one-time benefit during winter months to help pay energy bills. The amount paid depends on income, size of household, fuel type, and geographic location. The Weatherization Assistance Program is designed to help low income homes save fuel and money, while increasing their comfort. 

The Home Energy Assistance Program and Heating Repair Replacement Program are smaller, more specialized programs. All of the programs require paperwork and documentation of participants meeting predetermined criteria.

1. Low Income Home Energy Assistance Program

The Low Income Home Energy Assistance Program is broken down state by state at Benefits.gov. This program is designed to keep heat on in low-income homes during the freezing months of winter. 

In order to apply for the program, you must meet a yearly maximum income level dependent upon the state you live in.

You’ll need to contact a local community action agency and make an appointment in order to apply for the program. 

A person who participates in certain other benefit programs may be automatically eligible for L.I.H.E.A.P (Low Income Home Energy Assistance Program Crisis Programs). 

For any low-income family with an emergency, such as an unexpected disconnection or low heating oil or fuel, grants and financial assistance can be paid directly to your electricity or utility companies.

2. Weatherization Assistance Program

The Weatherization Assistance Program for most states has a goal of insulating homes, especially the elderly, disabled, families with children, high energy users and homes with high energy burdens.

In order to apply for the program, you must meet a yearly maximum income level dependent upon the state you live in.

You’ll need to contact a local community action agency and make an appointment in order to apply. A person who participates in certain other benefit programs may be automatically eligible. 

This program focuses more on the long-term savings for low income housing by providing services such as weather-stripping, wall and attic insulation, minor home repairs, and other energy saving measures.

3. Home Energy Assistance Program

The Home Energy Assistance Program will provide financial help to eligible households that need assistance paying heating and/or cooling bills. 

4. Heating Repair Replacement Program

Heating Repair Replacement Programs provide repair or replacement of heating units, appliances, furnaces, and other home upgrades for low-income families to help with heating costs.

So when you get stuck in the cold for one reason or another, don’t be afraid to ask for help, because it is out there. 

For short-term emergencies or long term planning, making your home a comfortable place should be your top priority.

7 Things Business Owners Should Know About Pallet Racking

Source

Pallet racking can be used in a wide number of ways and is suitable for all sorts of business applications, not just warehousing. 

Of course, installing a pallet racking system means that your business operation can more seamlessly fit in with that of other businesses, both customers and suppliers, thus improving the efficiency of the supply chain. 

However, there are a number of things that business owners ought to know about pallet racking before making any significant investments.

1. Pallet Racking Is Not Just For Warehouses And Distribution Facilities

Although pallet racking is the most widely used system in the logistics industry, employed in the majority of the world's warehouses and distribution centres, it is also the dominant form of storage in many other sectors, too. 

Pallet racking is, for example, widely used in the retail sector nowadays, as well. Not only do palletised racking shelves mean that store operatives are able to locate the stock items they need with ease, but forklift operators are able to return goods to the distribution centre, if appropriate, or even easily organise stock movements between retail outlets, when necessary. 

2. Pallet Racking In Manufacturing

These days, pallet racking is widely used in manufacturing industries, as well. Most manufacturers know the importance of keeping their production lines operating without clutter of excessive parts and components. 

Business manufacturers can find a variety of pallet racking systems at Warehouse Storage Solutions, and choose the most suitable one to help them become more efficient by de-cluttering, and avoid any bottle necks in the supply chain. Tying money up in stock close to the production facility is not wanted either, so many manufacturers rely on their slick supply chain to keep items coming to their production facility just when they are needed, committing as little cash flow as possible to purchasing. 

Therefore, components need to hit the places where they are needed immediately on arrival and palletised racking is the only real way of achieving this simply.

3. Pallet Flow Systems

These pallet racks are used with small rollers in their trusses, allowing for pallets to be moved easily from one area to another by operatives. Sometimes set at a slight incline, they are used in tandem with work flow environments, such as distribution centres, where sorting or other work is going on in support of the company's needs.

4. Safe Handling of Products

Some people are put off the idea of pallet racking because they think that smaller items held on a pallet will get damaged too easily, especially when they are cheek-by-jowl with bulkier items that are more suited to pallets and forklift pick-ups. 

However, high-quality pallet wrapping products, from the likes of Davpack, for instance, mean that even smaller items are held securely on a pallet without the need for large and costly containers or tubs to stow them in. Even hand held items are perfectly suited to pallet racking given such wrapping products.

5. Increased Storage Space

In many cases, palletisation can create more storage simply by using the upper space available in a business unit. 

So long as less wanted items are stored on the higher racks and fast moving lines are held at eye level, there is no reason not to use racking right up to the ceiling in a safe way which is perfect for getting the best out of the floor space that you already have.

6. Maintenance Issues

Pallet racking is basically a maintenance-free solution to a business' storage needs. Once it is set up and put in place, then there is virtually nothing that is required to keep it in good working order. Most pallet racking systems are modular with uprights and trusses being sold separately. 

Therefore, if a section of pallet racking does become damaged, perhaps by a collision with a forklift truck, then the appropriate sections can be replaced, without the need for starting again from scratch.

7. Benefit of Adaptability

Even when used outside of a warehouse, pallet racking is wonderfully adaptable so it can change along with your business' needs. 

Pallet racking is able to improve the overall functionality of the workplace, whether it is for holding components, finished stock or storing heavy machinery. Outbound goods sections and goods-in functions can be adapted easily with high-capacity and heavy duty racking.