I%26#039;m only a freshmen in college right now and I%26#039;m double majoring in finance and accounting. I was wondering how I can better prepare myself for a career in that field. Should I read some books or try to get hands on experienced. I%26#039;m looking to be a CPA or an Investment/Financial Analyst so how do I prepare for that. Any information you guys can give will help. Thanks a lot in advance.|||Hands on experience is the best way to go. Here are some ideas:
*Try and get a part time job in the accounting department of a local business. This will help you build on your accounting knowledge.
*Join Beta Alpha Psi (accounting fraternity) or other accounting societies. It looks great on the resume and it is a good way to meet individuals that work in the Accounting Field because they usually come to the meetings and give presentations about their firms or different accounting topics
*Do an internship with a CPA firm. This is more of something to keep in mind in a year or two. But this is a great way to see if working in public accounting is what you want to do. Generally CPA firms hirer people to do internships the summer after their junior year.
I don%26#039;t know what school you go to but most accounting departments will hold recruiting events, such as %26quot;meet the firms%26quot; where CPA firms come to the school to meet students. So this is a great way for you to meet people at the different firms and determine which one is the right fit for you. These are generally geared towards Juniors and Seniors but it is never to early to go and start meeting contacts.
Hope this helps!
Tuesday, March 24, 2009
What are the three professional tests for people working in finance?
I remember my finance professor telling me about these three tests in finance you can take to improve your resume. They%26#039;re all very difficult and have to be taken a year apart.
I was thinking about taking the very first one to see if I could improve my resume.|||CPA, CFP, Series 7
I was thinking about taking the very first one to see if I could improve my resume.|||CPA, CFP, Series 7
What's the best way to finance a real estate investment loan?
I%26#039;m planning to %26quot;flip%26quot; a house in the midwest, but I%26#039;m not sure how to go about financing. I plan to purchase the house for $130k, spend $20k in repairs, and sell for $160k. I would need to finance the purchase and repairs.
1) I don%26#039;t know what type of loan to go with
2) I don%26#039;t know if it%26#039;s better to go to a bank, like National City, a financing company, like CitiFinancial, or a different type of company...|||You need to re-think your numbers a little. If you finance a $130K loan, the cost is going to be several thousand dollars. You are talking about a high risk loan so expect to pay a few points at closing also, if you can get a loan. Check with all of the above until you find a mortgage broker that you are comfortable working with. However, this property in particular may not be well suited for a rehab. If there is only a $10K spread on a $150K investment, I would be extremely careful. You need to consider ALL of the costs. How will you sell the property? What if it doesn%26#039;t sell right away? The loan service on a $130K loan will be $1,000 per month or more (depending on taxes and insurance). If you sell the house quickly, say 4 months to rehab and flip, that would be $4,000 of your projected $10K profit. What if it takes an additional 6 months to sell?
Best of luck to you.|||If you can%26#039;t afford to pay cash for the investment, then don%26#039;t do it.
Also, if you don%26#039;t know what type of loan you might go with or type of bank to use, then you need to spend more time learning about finance.
Third, if all you are going to make is $10,000 it is more than likely the interest on the loan will be greater than that and you will end up losing money.|||the best is go yo a financial consultant
1) I don%26#039;t know what type of loan to go with
2) I don%26#039;t know if it%26#039;s better to go to a bank, like National City, a financing company, like CitiFinancial, or a different type of company...|||You need to re-think your numbers a little. If you finance a $130K loan, the cost is going to be several thousand dollars. You are talking about a high risk loan so expect to pay a few points at closing also, if you can get a loan. Check with all of the above until you find a mortgage broker that you are comfortable working with. However, this property in particular may not be well suited for a rehab. If there is only a $10K spread on a $150K investment, I would be extremely careful. You need to consider ALL of the costs. How will you sell the property? What if it doesn%26#039;t sell right away? The loan service on a $130K loan will be $1,000 per month or more (depending on taxes and insurance). If you sell the house quickly, say 4 months to rehab and flip, that would be $4,000 of your projected $10K profit. What if it takes an additional 6 months to sell?
Best of luck to you.|||If you can%26#039;t afford to pay cash for the investment, then don%26#039;t do it.
Also, if you don%26#039;t know what type of loan you might go with or type of bank to use, then you need to spend more time learning about finance.
Third, if all you are going to make is $10,000 it is more than likely the interest on the loan will be greater than that and you will end up losing money.|||the best is go yo a financial consultant
What are the subjects needed to study finance accounting at university?
I just started college and i%26#039;m studying accounting, economics, mathematics and business studies. Is these the right subjects or should i study sociology instead of business studies. I need to know what subjects top universities ask for when a person wants to study finance accounting.|||1. I think your list is fine.
2. Add corporate finance when you have the prerequisites.
3. You should have a faculty advisor who you can ask questions like this of, rather than an anonymous group of people on Yahoo Answers.
|||You have chosen a good subjects just add more subject like international financial management, financial management and cost accounting.
You can start studying this subject home also so at the time of your university you can easily understand the basics of all the subjects.
best of luck from letsnurture.co.cc|||Business Studies in Finance %26amp; Accounting can include (normally university do not provide so many courses):
1) Business Statistics
2) Financial Mathematics
3) Accounting Principles
4) Marketing Principles
5) Macroeconomics
6) Business Computing
7) Actuarial Science
8) Environmental Science
9) Qualitative Finance
10) Management Accounting
11) Cost Management
12) Options %26amp; Futures Trading
13) Financial Management
14) Tax Accounting
15) Audit %26amp; Assurance
16) Payroll Accounting
17) Financial Accounting
18) Environmental %26amp; Social Accounting
19) Forensic Accounting
20) Advanced Financial Accounting
21) Advanced Management Accounting
22) Advanced Tax or Tax Planning
23) Business Strategy
24) Microeconomics
25) Advanced Microeconomics
26) Advanced Macroeconomics
27) Company Law
28) Employment Law
29) Business Law
30) Computerised Accounting Systems
31) Insolvency %26amp; Reconstruction
32) Price Theory
33) Accounting Theory
34) Performance Management
35) Knowledge Management
36) Operations Management
37) Bank Management
38) Financial Planning
39) Investments Law
40) Investment Planning
41) Insurance Law
42) Business Communication
43) Asset Valuation
What is Finance Accounting? That is no such term.|||Judging from the wording of your question you should actually be studing english.
2. Add corporate finance when you have the prerequisites.
3. You should have a faculty advisor who you can ask questions like this of, rather than an anonymous group of people on Yahoo Answers.
|||You have chosen a good subjects just add more subject like international financial management, financial management and cost accounting.
You can start studying this subject home also so at the time of your university you can easily understand the basics of all the subjects.
best of luck from letsnurture.co.cc|||Business Studies in Finance %26amp; Accounting can include (normally university do not provide so many courses):
1) Business Statistics
2) Financial Mathematics
3) Accounting Principles
4) Marketing Principles
5) Macroeconomics
6) Business Computing
7) Actuarial Science
8) Environmental Science
9) Qualitative Finance
10) Management Accounting
11) Cost Management
12) Options %26amp; Futures Trading
13) Financial Management
14) Tax Accounting
15) Audit %26amp; Assurance
16) Payroll Accounting
17) Financial Accounting
18) Environmental %26amp; Social Accounting
19) Forensic Accounting
20) Advanced Financial Accounting
21) Advanced Management Accounting
22) Advanced Tax or Tax Planning
23) Business Strategy
24) Microeconomics
25) Advanced Microeconomics
26) Advanced Macroeconomics
27) Company Law
28) Employment Law
29) Business Law
30) Computerised Accounting Systems
31) Insolvency %26amp; Reconstruction
32) Price Theory
33) Accounting Theory
34) Performance Management
35) Knowledge Management
36) Operations Management
37) Bank Management
38) Financial Planning
39) Investments Law
40) Investment Planning
41) Insurance Law
42) Business Communication
43) Asset Valuation
What is Finance Accounting? That is no such term.|||Judging from the wording of your question you should actually be studing english.
Is Finance in combination with international business a good field to be into?
What are the outlooks? Would you prefer finance over management, risk and insurance management, real estate, economics, and marketing?
Thanks!|||In this world, international issues are growing not shrinking. But, I would think about a school that has a degree in international finance if that%26#039;s what you want. The two top ways to the top are marketing and finance, in that order. If that%26#039;s your desire, then it sounds like you%26#039;re headed in a positive direction.
Thanks!|||In this world, international issues are growing not shrinking. But, I would think about a school that has a degree in international finance if that%26#039;s what you want. The two top ways to the top are marketing and finance, in that order. If that%26#039;s your desire, then it sounds like you%26#039;re headed in a positive direction.
Is FInance a bad major to go into with an inevitable recession?
I am currently stuck with what I want to do with my life. If i go into business, I will either major in Economics, Finance, or Accounting. Any suggestions based on salary, and job opportunities. Thanks.|||I have a cousin in accounting. She double majored/ dual degree in Finance and Accounting . She is an accountant. She scored a supervisor%26#039;s position in Koch Lp because of her second degree in finance.
You can work for auto dealers helping with loans, Banks, payroll positions, accounts payables, or work in small to corporate businesses in their various accounting departments.
Economics seem limited in employment opportunity . ..but pay well if you find a position requiring the degree in economic.
Forecasting and analysis of U.S. economy
Industry forecasting and analysis
International forecasting and analysis
Product forecasting, microeconomics
Domestic policy analysis
Other areas of analysis
Administration
|||Hardly! What goes down must come up. Stop being short-sighted -- NOW is the time that people need financial advice and management.
You can work for auto dealers helping with loans, Banks, payroll positions, accounts payables, or work in small to corporate businesses in their various accounting departments.
Economics seem limited in employment opportunity . ..but pay well if you find a position requiring the degree in economic.
Forecasting and analysis of U.S. economy
Industry forecasting and analysis
International forecasting and analysis
Product forecasting, microeconomics
Domestic policy analysis
Other areas of analysis
Administration
|||Hardly! What goes down must come up. Stop being short-sighted -- NOW is the time that people need financial advice and management.
How does the finance person from the dealership I bought my car make his money?
Here is the deal. I kind of got taken from a shady Persian gentlemen who did the financing for me at my local Honda dealership. So he got me for a higher interest rate, lied to me so I would purchase stuff like extended warranty and gap insurance. My question is this: Based on my original loan the total loan amount of my interest would have been like $12,000 spread out over six years. But I went ahead and paid a large portion of that down and refinanced with a third party - therefore reducing the total interest to something like
$3500 over four years. So here is my question. Does this dishonest finance guy at the dealership get a cut of the original $12,000 and get his money up front? Or will he only get a cut of the total amount of interest I paid on the original loan which was about $1300? I want to know if by refinancing through some other lender if I took money away from him that he was expecting would come to him based on the terms of the original loan?|||Auto finance is what I do for a living and like the first poster said, it depends on how quick you refinanced.
If you made at least 12-payments, the F%26amp;I guy got all of his money. If you made less then that he was charged back a small percentage.
When you finance a car and buy what%26#039;s called back-end product like Gap and Service Contracts the F%26amp;I people are paid a percentage of the profit they made off of you the next month. If you do not refinance within 12-months they are free and clear, if you do refinance, they are charged back a percentage based on how quick you refinanced.
The other way that F%26amp;I people make money is they mark up the rate. Say the bank gives the dealer a buy rate of 5.99% they mark it up to 8.99% and this produces whats called reserve money. This also gets charged back if you refinance the loan before 12-months.
I doubt if he actually lied to you. People that do what we do for a living are good at our jobs and lieing to a customer is the fastest way to lose your job. The truth in lending law states that everything you purchase must be explained before you sign the paperwork.|||Actually that%26#039;s true.
Once you purchase a vehicle you have to pay the taxes and bring it up into your name before you can trade it back in to the dealer. Report Abuse
|||It depends on the dealer and how long you waited to re-fi.
You were correct in your assumption that he made a pretty penny on you from all the extras especially the extended warranty and how much he was able yo get you to pay for it. These guys have allot of flexibility in what they charge for these types of extras.
$3500 over four years. So here is my question. Does this dishonest finance guy at the dealership get a cut of the original $12,000 and get his money up front? Or will he only get a cut of the total amount of interest I paid on the original loan which was about $1300? I want to know if by refinancing through some other lender if I took money away from him that he was expecting would come to him based on the terms of the original loan?|||Auto finance is what I do for a living and like the first poster said, it depends on how quick you refinanced.
If you made at least 12-payments, the F%26amp;I guy got all of his money. If you made less then that he was charged back a small percentage.
When you finance a car and buy what%26#039;s called back-end product like Gap and Service Contracts the F%26amp;I people are paid a percentage of the profit they made off of you the next month. If you do not refinance within 12-months they are free and clear, if you do refinance, they are charged back a percentage based on how quick you refinanced.
The other way that F%26amp;I people make money is they mark up the rate. Say the bank gives the dealer a buy rate of 5.99% they mark it up to 8.99% and this produces whats called reserve money. This also gets charged back if you refinance the loan before 12-months.
I doubt if he actually lied to you. People that do what we do for a living are good at our jobs and lieing to a customer is the fastest way to lose your job. The truth in lending law states that everything you purchase must be explained before you sign the paperwork.|||Actually that%26#039;s true.
Once you purchase a vehicle you have to pay the taxes and bring it up into your name before you can trade it back in to the dealer. Report Abuse
|||It depends on the dealer and how long you waited to re-fi.
You were correct in your assumption that he made a pretty penny on you from all the extras especially the extended warranty and how much he was able yo get you to pay for it. These guys have allot of flexibility in what they charge for these types of extras.
What is the lowest credit score I can have to finance a car?
I think most car dealerships can finance anyone as long as you can show a pay stub. Is this true? Can you have defaulted student loans and tax liens and still be financed for a car?|||Poor credit car loans have been specifically designed for those people who have trouble getting credit due to their credit score being too low, if your credit score is too low then you will be seen as a huge risk and as such the lender will not take a chance on you and so turn you down. You can bring your credit rating%26lt;!--back up by doing certain things but it does take a long time and if you want your car now then applying for a poor credit car loan could be your only or best option.Just as with any other type of loan if you go to a specialist then you will get the best deal. You may get the car loan you want from here,
http://best-loans.awardspace.com/guarant...
http://best-loans.awardspace.com/auto.ht...
When applying for a poor credit car loan you have to realise that you are never going to get the very lowest of interest rates that others have the luxury of securing but if you go with a specialist they will be able to get you the lowest among loans associated with a poor credit rating. Along with getting you the cheapest possible poor credit car loan the specialist--%26gt;website will also be able to offer you the best advice. However unless you know something about car loans and in particular what to look for when it comes to getting a poor credit car loan then you could end up paying way over the odds for the privilege of getting the loan.
http://best-loans.awardspace.com/guarant...
http://best-loans.awardspace.com/auto.ht...
When applying for a poor credit car loan you have to realise that you are never going to get the very lowest of interest rates that others have the luxury of securing but if you go with a specialist they will be able to get you the lowest among loans associated with a poor credit rating. Along with getting you the cheapest possible poor credit car loan the specialist--%26gt;website will also be able to offer you the best advice. However unless you know something about car loans and in particular what to look for when it comes to getting a poor credit car loan then you could end up paying way over the odds for the privilege of getting the loan.
How much would a bachelor degree in finance cost at a comunity college?
I am planning to get a bachelor degree in finance and i would like to go to an online college like AIU; they said that it would last about 4 years (associate+bachelor) and that i would have to get an associate first that would cost about $21k + $30k for the bachelor=$51k.
Is that a good investment or should i go to a community college?
I live in the Saginaw-Detroit area.
The bachelor would cost|||You can not get Bachelor%26#039;s degree in a community college. You can only get Associate degrees.
But what you can do is....
Go to community college first. meet a counselor. Tell him you want to get Bachelors in Finance and you want list of transferable units in Finance to a University.
You will take courses for 1 to 2 years. These same courses are offered in a University, but cost a lot. You will save a lot of money this way. Then in your second year, apply to University of your choice and complete your Bachelors...which will be 2 more years.
You can also apply to Financial aid. You need to be very assertive in getting grants for your tuition.
Good luck|||yes you must get the Associate first to obtain a bachelors degree
go to a Community College for the Associates
go to U of M Flint for the Bachelors
online degrees are laughed upon by most potential employers|||You don%26#039;t have to get an associates first to get a bachelors. An associates degree merely states that you graduated from a community college. Be careful at a community college when they tell you to get an AA degree. That is not your long-term goal. Since you want a bachelors degree, plan all of your course work to fulfill the requiements for that degree, whether or not the classes will earn an AA degree. That does not matter.
Is that a good investment or should i go to a community college?
I live in the Saginaw-Detroit area.
The bachelor would cost|||You can not get Bachelor%26#039;s degree in a community college. You can only get Associate degrees.
But what you can do is....
Go to community college first. meet a counselor. Tell him you want to get Bachelors in Finance and you want list of transferable units in Finance to a University.
You will take courses for 1 to 2 years. These same courses are offered in a University, but cost a lot. You will save a lot of money this way. Then in your second year, apply to University of your choice and complete your Bachelors...which will be 2 more years.
You can also apply to Financial aid. You need to be very assertive in getting grants for your tuition.
Good luck|||yes you must get the Associate first to obtain a bachelors degree
go to a Community College for the Associates
go to U of M Flint for the Bachelors
online degrees are laughed upon by most potential employers|||You don%26#039;t have to get an associates first to get a bachelors. An associates degree merely states that you graduated from a community college. Be careful at a community college when they tell you to get an AA degree. That is not your long-term goal. Since you want a bachelors degree, plan all of your course work to fulfill the requiements for that degree, whether or not the classes will earn an AA degree. That does not matter.
How do you finance a used car?
Me and my friend are going to finance a $5000 car. What do we need to bring? And how do you do financing? With a credit card? I am clueless lol.|||Well, if this is your first loan, you will probably want to bring a recent paycheck stub, copy of full coverage insurance, and proof of residency %26lt;such as a utility bill%26gt;. If you going to finance with a lender, then you will fill out a credit application as well as a buyers order for the agreed vehicle figures.
You will not want to buy a car with a credit card unless you have the cash to pay it off that month. %26lt;sometimes people use this to get miles and other bonuses from their credit card company%26gt;.
You will also want to give the car a good evaluation before you purchase it. Good luck and you can email me if you have any questions.|||If you%26#039;re going to a %26quot;buy here, pay here%26quot; place, you shouldn%26#039;t finance with them. Actually, you shouldn%26#039;t buy from them at all (they tend to have the worst cars you can find).
You should go to your bank, or preferably, credit union and secure financing there.
It might be simpler to use your credit card, but unless you have a really low rate on your card, and you intend to pay it off quickly, it%26#039;s a bad idea. My mom had done it a couple times. She%26#039;s in debt that she should have been out of a decade ago.
I%26#039;ve done it, too, but I paid it off in full that month.|||either the dealer will walk you through it, or go to the bank.
You%26#039;ll need 2 forms of ID, drivers license and 2 forms of proof of address.|||Go to your bank or credit union and tell them that you want to get a car loan. They will run a credit check on you and your friend (if you will both be on the loan) and determine whether you qualify. They will want to see proof of employment (pay stubs) and deposit history from any bank accounts. Your interest rate will depend on your credit rating.
Be careful financing with a friend. Will you both be on the title and insurance? Will you both be making payments? If one of you should stop making payments, the other will be responsible for covering the loan so just be aware going in with a friend that it can affect your credit if one of you doesn%26#039;t hold up their end of the deal.
Good luck!|||The easiest way to get information is to phone the creditor and ask for the loan arranger or car loan department. The loan officer will ask a few basic questions:
How much money is to be borrowed?
How long?
What year is the car?
What is the selling price?
Potential borrowers may be asked questions about employment, income, credit cards and debts. After you have answered the questions, request the following information from the loan officer:
APR
Monthly payment
Restrictions on the loan
Additional fees
Finance charge
The total credit costs depend primarily on three factors: the APR, the amount borrowed and the length of the repayment period. So if you are considering financing through a dealer, make sure you get separate quotes for the car and for the financing. Otherwise, you will not be able to compare the credit costs and terms accurately with other credit sources.
You will not want to buy a car with a credit card unless you have the cash to pay it off that month. %26lt;sometimes people use this to get miles and other bonuses from their credit card company%26gt;.
You will also want to give the car a good evaluation before you purchase it. Good luck and you can email me if you have any questions.|||If you%26#039;re going to a %26quot;buy here, pay here%26quot; place, you shouldn%26#039;t finance with them. Actually, you shouldn%26#039;t buy from them at all (they tend to have the worst cars you can find).
You should go to your bank, or preferably, credit union and secure financing there.
It might be simpler to use your credit card, but unless you have a really low rate on your card, and you intend to pay it off quickly, it%26#039;s a bad idea. My mom had done it a couple times. She%26#039;s in debt that she should have been out of a decade ago.
I%26#039;ve done it, too, but I paid it off in full that month.|||either the dealer will walk you through it, or go to the bank.
You%26#039;ll need 2 forms of ID, drivers license and 2 forms of proof of address.|||Go to your bank or credit union and tell them that you want to get a car loan. They will run a credit check on you and your friend (if you will both be on the loan) and determine whether you qualify. They will want to see proof of employment (pay stubs) and deposit history from any bank accounts. Your interest rate will depend on your credit rating.
Be careful financing with a friend. Will you both be on the title and insurance? Will you both be making payments? If one of you should stop making payments, the other will be responsible for covering the loan so just be aware going in with a friend that it can affect your credit if one of you doesn%26#039;t hold up their end of the deal.
Good luck!|||The easiest way to get information is to phone the creditor and ask for the loan arranger or car loan department. The loan officer will ask a few basic questions:
How much money is to be borrowed?
How long?
What year is the car?
What is the selling price?
Potential borrowers may be asked questions about employment, income, credit cards and debts. After you have answered the questions, request the following information from the loan officer:
APR
Monthly payment
Restrictions on the loan
Additional fees
Finance charge
The total credit costs depend primarily on three factors: the APR, the amount borrowed and the length of the repayment period. So if you are considering financing through a dealer, make sure you get separate quotes for the car and for the financing. Otherwise, you will not be able to compare the credit costs and terms accurately with other credit sources.
What happens when you hand your car back to the finance company?
I bought a Renault Clio last August 06 for £2500 since i dont have any debt and no credit rating i had to take high finance (37.5%) im now paying £146.65 a month for 36 months and i still over 3000 to pay, I would like to hand this car back to finance company as i no longer wish to pay that ammount of money and i dont like the car. What happens if i were to do this?|||The finance company will sell the car, and apply the funds received (after all costs of sale) to your balance. You would then have to pay the difference. Check with your bank. You now have a years history of paying for a car. You may be able to refinance the balance at a much lower rate!
Giving the car to the finance company is never a good idea! It wipes out your good payment history. You said you had no credit history prior to this purchase! if you let the car go back, your only credit reference will be that you did not pay, which is worse than no credit at all!|||You loose everything you put in it.It will go to your credit report.Best bet if you have someone you trust,let them take up the payments.Make sure you add them to your insurance.|||I am not sure of the credit rating procedures over there. Here in the states that would show as a voluntary repossession. Which lenders look at as a normal repossession. If it shows as a repo. you can count on a higher interest rate yet or no one willing to give you a loan.
My suggestion is to deal with your choice. Enjoy the car. Pay it off....|||musta did bussiness with the loan sharks 37.5% you got to be kidding|||you will still have to pay back a lot of that lone your best bet would be to sell privatly then refinance loan smaller payments either way you will still have a debt to pay
Giving the car to the finance company is never a good idea! It wipes out your good payment history. You said you had no credit history prior to this purchase! if you let the car go back, your only credit reference will be that you did not pay, which is worse than no credit at all!|||You loose everything you put in it.It will go to your credit report.Best bet if you have someone you trust,let them take up the payments.Make sure you add them to your insurance.|||I am not sure of the credit rating procedures over there. Here in the states that would show as a voluntary repossession. Which lenders look at as a normal repossession. If it shows as a repo. you can count on a higher interest rate yet or no one willing to give you a loan.
My suggestion is to deal with your choice. Enjoy the car. Pay it off....|||musta did bussiness with the loan sharks 37.5% you got to be kidding|||you will still have to pay back a lot of that lone your best bet would be to sell privatly then refinance loan smaller payments either way you will still have a debt to pay
What is the best way to finance the purchase of a storage units facility?
I%26#039;d like to buy or build something like Public Storage. What%26#039;s the best way to know where to build, find the land (or existing storage facility) and finance the purchase?|||Do your research on the locations of other storage units in your area and also figure out what the demand is for public storage. You will need to come up with a business plan and then pitch it the a bank and see if they will lend you the money to finance it. If they deny you, revise your financial plan and try again. One way or another, if the bank is going to make a profit off of your investment, they will lend. You just have to show them that they will.|||There may be something of use here.
What is the best way to finance a new home purchase and addition simultaneously?
I live in Colorado and plan to purchase a home. Before I move in, I%26#039;d like to add two bedrooms and a bath. What%26#039;s the best way to finance this all at the same time?|||If your credit is good, you could finance 100 - 107% of the purchase price and save your down payment for the renovation. I am a manager a mortgage bank. Email me if you would like to explore these ideas.
Thanks|||There are also private money lenders which will consider after improved value and would consider the purchase and improvement loans.|||You can obtain one of the new Fannie/Freddie Renovation-Rehab loans. For a primary residence purchae, you can finance up to 95% of the total cost to purchase and rehab. For example, a 100k purchase would allow you to finance 95k and you would be responsible for a 5k down payment. There are a lot of guidelines to this loan but if you have decent credit this will may be the most cost effective way to achieve your desired result. I am also a mortgage planner and I provide financing in CO. Please feel free to contact me if you%26#039;d like more information. Good Luck!
azemon@greenwoodlending.com
www.cvillelending.com
Thanks|||There are also private money lenders which will consider after improved value and would consider the purchase and improvement loans.|||You can obtain one of the new Fannie/Freddie Renovation-Rehab loans. For a primary residence purchae, you can finance up to 95% of the total cost to purchase and rehab. For example, a 100k purchase would allow you to finance 95k and you would be responsible for a 5k down payment. There are a lot of guidelines to this loan but if you have decent credit this will may be the most cost effective way to achieve your desired result. I am also a mortgage planner and I provide financing in CO. Please feel free to contact me if you%26#039;d like more information. Good Luck!
azemon@greenwoodlending.com
www.cvillelending.com
What is the oldest year to finance a car, and what mileage?
I want to finance a used car, and i%26#039;m trying to save as much money as possible.|||My husband use to be a car salesman. You can finance a really old car with less than 60,000. Most dealerships waranties should cover the car for the lease term you have.|||Many banks only go back 7 years for used cars. Anything more than 7 years usually requires subprime financing or cash.|||5years old with above average milage. Or an antigue. Or creative financing like 2nd mortgage or compounding bills.|||If you go to the bank, I think 4 years
What is the difference between economics, finance, business degrees?
Wondering what is the difference between economics, finance, business, marketing, accounting degrees. Can someone provide a very brief description of each? Also, which one would be the best option if I wanted to become an analyst for a firm like Goldman Sachs?|||Economics: Studies and Analyzes the growth an economy and studies the production, distribution, and consumption of goods and services in that economy.
Finance: Studies and addresses the ways in which individuals, businesses, and organizations raise, allocate, and use monetary resources over time.
Business: How to make a legally-recognized organizational entity existing within an economically free country designed to sell goods and/or services successful.
Marketing: The study of the social process which satisfies consumers%26#039; needs and demands
Accounting: The art of measurement, statement or provision of assurance about financial information primarily used by managers, investors, tax authorities and other decision makers to make resource allocation decisions within companies, organizations, and public agencies.
If you want to be an analyst then you need a finance degree or an economics degree (at least a Masters/MBA). An analysts%26#039; work is math intensive.
Finance: Studies and addresses the ways in which individuals, businesses, and organizations raise, allocate, and use monetary resources over time.
Business: How to make a legally-recognized organizational entity existing within an economically free country designed to sell goods and/or services successful.
Marketing: The study of the social process which satisfies consumers%26#039; needs and demands
Accounting: The art of measurement, statement or provision of assurance about financial information primarily used by managers, investors, tax authorities and other decision makers to make resource allocation decisions within companies, organizations, and public agencies.
If you want to be an analyst then you need a finance degree or an economics degree (at least a Masters/MBA). An analysts%26#039; work is math intensive.
What are the skills set necessary for a corporate finance position?
I have a MBA degree and concentration in finance, looking for an entry level financial analyst position in the corporate finance area. What are the important skills normally required? I have a feeling that what I%26#039;ve learned from school does not match what are wanted in real world. So what skills are really expected from an entry-level financial analyst?|||Mathematical, computer, analytical, and problem-solving skills are essential qualifications for financial analysts and personal financial advisors. Good communication skills also are necessary, because these workers must present complex financial concepts and strategies in easy-to-understand language to clients and other professionals. Self-confidence, maturity, and the ability to work independently are important as well. Financial analysts must be detail oriented, motivated to seek out obscure information, and familiar with the workings of the economy, tax laws, and money markets. Strong interpersonal skills and sales ability are crucial to the success of both financial analysts and personal financial advisors.|||An eye for details; good connections to ensure you get the news first before others or the press/media. Good at numbers and think outside the box.|||You are right...what you learned in school has very little to do with reality.
With that said the most important thing, from my experience, in any financial position is being able to read people. You can expect to hear more lies than the truth.
Although, the numbers are important...the person presenting the numbers is more important. Do the questions you ask match the numbers?
I know many ways to %26quot;cook%26quot; a set books (if you don%26#039;t know what that means your in the wrong business). I know this because I have been doing this for 20 years.
My best advice to you, is do a study...and present this in the interview. Of course, you will have to prove that you knew it before hand.|||you need to have a Wide Business Understanding and People Skills Needed
To be good in banking you need a broad understanding of business because your job will most likely involve interacting with businesses. People skills are essential because you will be helping people get the loans and investments that they want.
Accounting and Writing Skills are Crucial
The most common jobs in commercial banking are as a credit analyst and as a lending officer. These jobs require a strong understanding of accounting. Because banking often requires that you document loans and justify credit analyses you%26#039;ve written communication skills are extremely important.
With that said the most important thing, from my experience, in any financial position is being able to read people. You can expect to hear more lies than the truth.
Although, the numbers are important...the person presenting the numbers is more important. Do the questions you ask match the numbers?
I know many ways to %26quot;cook%26quot; a set books (if you don%26#039;t know what that means your in the wrong business). I know this because I have been doing this for 20 years.
My best advice to you, is do a study...and present this in the interview. Of course, you will have to prove that you knew it before hand.|||you need to have a Wide Business Understanding and People Skills Needed
To be good in banking you need a broad understanding of business because your job will most likely involve interacting with businesses. People skills are essential because you will be helping people get the loans and investments that they want.
Accounting and Writing Skills are Crucial
The most common jobs in commercial banking are as a credit analyst and as a lending officer. These jobs require a strong understanding of accounting. Because banking often requires that you document loans and justify credit analyses you%26#039;ve written communication skills are extremely important.
What kinds of job is for finance and financial management and what do they do?
Like since there%26#039;s so many different types of job in this major (finance), what are they and what do you have to do in that specific job?|||Insurance or Banking are 2 big ones.|||You could get a job in Banking and Finance, Insurance, Accounting; Management
How much will I have to finance on a new home after the price dropped?
I signed to purchase a home for $700,000. House will not be done until April 2007. Between now and then, if the prices of the homes drop, will I be obligated to pay what I signed up for or do I only finance what the house is worth at the time?|||if the appraised value will be less,then you agree to pay for this house- you have 2 options: renegotiate the price with the builder or walk out from the contract, because lender will not lend you more money then the house is worth. you have check your contract, because i don%26#039;t know how this work in your state, but those are general rules .|||Since you signed paperwork for $7000,000 you will probably be stuck with that price.|||the sad thing is your lender will not give you a loan on the purchase price if the appraised value is less. I believe it will be the lessor of the two so if your property appraises for 650000 you loan to value will be based on that not your purchase price so you will have to come up with more money to get the deal closed|||it is like a marraige for better or worse it is your now your hooked and only legal agreement will change it|||Ha Ha http://www.breakingbubble.com/index.htm
Your are so screwed|||It depends on whether you signed a binding agreement or something less than a contract.
If it%26#039;s an enforceable contract, the basic price is set and won%26#039;t change, and the answer would be Yes, you pay the 700k even if the bottom falls out of the market.
If you can hold the seller to the price even if the market doubles, or if material costs go up so much they lose money on the house, it%26#039;s binding and you have to pay the price even if the market tanks.
Your are so screwed|||It depends on whether you signed a binding agreement or something less than a contract.
If it%26#039;s an enforceable contract, the basic price is set and won%26#039;t change, and the answer would be Yes, you pay the 700k even if the bottom falls out of the market.
If you can hold the seller to the price even if the market doubles, or if material costs go up so much they lose money on the house, it%26#039;s binding and you have to pay the price even if the market tanks.
What is the smartest way to finance a rennovation on a house?
I%26#039;m looking to do some major rennovations on my house and figuring out the best way to finance it has been racking my brain. I just can%26#039;t figure out the pros %26amp; cons between refinancing, 2nd mortgages, home equity line of credits, etc.
A little background on the house, It is located in North NJ in a very high demand area. I bought the house over 6 years ago for $215k, it%26#039;s currently valued around $380k. Our current Mortgage is around $175k. I estimate my renovation to cost around $200k-$250k. We plan to be in this house for a long time. We%26#039;re looking to add a 2 car garage, extending the living room, redoing the kitchen and adding a master bedroom.
any advice on what direction I should head in and pifalls to look out for would be greatly appreciated.|||HELOC calculator, http://www.choicefinance.net/calculators...
A little background on the house, It is located in North NJ in a very high demand area. I bought the house over 6 years ago for $215k, it%26#039;s currently valued around $380k. Our current Mortgage is around $175k. I estimate my renovation to cost around $200k-$250k. We plan to be in this house for a long time. We%26#039;re looking to add a 2 car garage, extending the living room, redoing the kitchen and adding a master bedroom.
any advice on what direction I should head in and pifalls to look out for would be greatly appreciated.|||HELOC calculator, http://www.choicefinance.net/calculators...
How to get a good finance deal on a car loan??
Hi,
I%26#039;m planning to buy a car through finance option. I would like to ask on how to get a good finance deal with both the dealer and the bank on finance deal. Can anyone help me enlighten on these topics as this is my first loan!!|||The best way to get good rate is to secure financing before you go see the dealer. They will usually offer to beat your rate.|||Car Loan Guide: http://carloanguide.automobile... Report Abuse
|||this is great place to get quotes for a car loan, it only takes a minute and it%26#039;s free.|||Capitol One Auto finance seems to have the best rates - Make sure you understand that most of the time %26quot;higher rates%26quot; are not particularly similiar to say a mortgage loan so don%26#039;t get scared right off the bat, but try to have a goal of when you want to pay the car off if you buy instead of lease.
Leasing gives you the option for a lower rate with little or no money down, but you walk away with nothing in the end.
Purchasing a car can work like a lease (lease with option to buy-so your money isn%26#039;t just wasted)
Also look into GMAC - they are competative with their rates, but they own a lot! They not only finance car loans, but mortgages too (ditech)
Most of the time, American Cars under a loan have higher interest rates than foreign cars and harder to get if your credit is average.
That%26#039;s the #1 rule of thumb before you do ANYTHING, check your credit score!!!!! and know what you might be walking into before you go for any loan and watch for the end of signing loop holes (which make the rates increase for minor reasons @ signing) Anyone will give you the loan, just WATCH the fine print (Experience talking here!)
Also, look for first loaner options, rates can be better for the first time buyer, find an independant loan company through the dealership. Once you go outside the dealership to get a loan, you%26#039;ll get bombarded with everyone offering you the moon and stars. Don%26#039;t rush into anything, not matter how much you WANT the car.
Good Luck|||Here is an article http://wiz.sc/Loans with some information on loan options and the best plans.
I%26#039;m planning to buy a car through finance option. I would like to ask on how to get a good finance deal with both the dealer and the bank on finance deal. Can anyone help me enlighten on these topics as this is my first loan!!|||The best way to get good rate is to secure financing before you go see the dealer. They will usually offer to beat your rate.|||Car Loan Guide: http://carloanguide.automobile... Report Abuse
|||this is great place to get quotes for a car loan, it only takes a minute and it%26#039;s free.|||Capitol One Auto finance seems to have the best rates - Make sure you understand that most of the time %26quot;higher rates%26quot; are not particularly similiar to say a mortgage loan so don%26#039;t get scared right off the bat, but try to have a goal of when you want to pay the car off if you buy instead of lease.
Leasing gives you the option for a lower rate with little or no money down, but you walk away with nothing in the end.
Purchasing a car can work like a lease (lease with option to buy-so your money isn%26#039;t just wasted)
Also look into GMAC - they are competative with their rates, but they own a lot! They not only finance car loans, but mortgages too (ditech)
Most of the time, American Cars under a loan have higher interest rates than foreign cars and harder to get if your credit is average.
That%26#039;s the #1 rule of thumb before you do ANYTHING, check your credit score!!!!! and know what you might be walking into before you go for any loan and watch for the end of signing loop holes (which make the rates increase for minor reasons @ signing) Anyone will give you the loan, just WATCH the fine print (Experience talking here!)
Also, look for first loaner options, rates can be better for the first time buyer, find an independant loan company through the dealership. Once you go outside the dealership to get a loan, you%26#039;ll get bombarded with everyone offering you the moon and stars. Don%26#039;t rush into anything, not matter how much you WANT the car.
Good Luck|||Here is an article http://wiz.sc/Loans with some information on loan options and the best plans.
What is the difference between a career in Finance and a career in Accounting?
I am thinking about going back to school to get a BS in Business Administration.
I would like to know what the difference is in careers in Finance and Accounting. Has anyone had a career in either field? What I want to know is:
What did you think of your career?
What did you do all day in Finance or Accounting?
Did you find it exciting or really boring?
For a career as a Financial Planner or Financial Advisor, do you work off of commision only?
Any information would be very helpful. Thanks.|||a B.S. in Bus Admin is a useless degree
Finance is more banking/credit/loans/mortgages related
accounting is number crunching, financial statement prep, auditing
accounting is generally boring repetitive, often stressful
haven%26#039;t worked in Finance field
FP/FA - mostly commission or salary with sales quotas - cold calling|||I work as a bookeeper at a finance company. I love my job! many different things to do all day that makes the day go by real fast. I do accounts receivable and accounts payable I work with investors who invest money into our company, I do the employee%26#039;s payroll. These are just a few things I do. If you like to work with numbers accounting is a great job and pays well too.|||The easiest way to distinguish the difference between finance and accounting is to think of accounting as backward looking (recording individual and company actual transactions) and finance as forward looking (pro forma planning debt and investment strategies).
A career in financial planning for individuals and small business is a very tough way to make a living. It is commission sales and more of a hustle than intellectual pursuit. A few really good hustlers make decent money, but most fail and go back to salary within one year.
I spent 17 years in Corporate Finance with a Fortune 100 tech firm. It was a very rewarding career that encompassed a wide range of activities from treasury investment strategies and corporate capital structure to mergers and acquisitions.
A career in Corporate Finance usually requires an MBA, usually from a top 20 school. However, the rewards and opportunities clearly justify the effort.|||Accounting is more specific and an accountant will process journals, create accruals, balance sheets and profit and loss accounts. I did this for two years and found it very boring. It is very repititive and I felt like I had the same day every day for two years.
Finance is more general and will cover accounting as well as auditing, financial planning and financial advisor etc.
There are many difference jobs under Finance.
I would like to know what the difference is in careers in Finance and Accounting. Has anyone had a career in either field? What I want to know is:
What did you think of your career?
What did you do all day in Finance or Accounting?
Did you find it exciting or really boring?
For a career as a Financial Planner or Financial Advisor, do you work off of commision only?
Any information would be very helpful. Thanks.|||a B.S. in Bus Admin is a useless degree
Finance is more banking/credit/loans/mortgages related
accounting is number crunching, financial statement prep, auditing
accounting is generally boring repetitive, often stressful
haven%26#039;t worked in Finance field
FP/FA - mostly commission or salary with sales quotas - cold calling|||I work as a bookeeper at a finance company. I love my job! many different things to do all day that makes the day go by real fast. I do accounts receivable and accounts payable I work with investors who invest money into our company, I do the employee%26#039;s payroll. These are just a few things I do. If you like to work with numbers accounting is a great job and pays well too.|||The easiest way to distinguish the difference between finance and accounting is to think of accounting as backward looking (recording individual and company actual transactions) and finance as forward looking (pro forma planning debt and investment strategies).
A career in financial planning for individuals and small business is a very tough way to make a living. It is commission sales and more of a hustle than intellectual pursuit. A few really good hustlers make decent money, but most fail and go back to salary within one year.
I spent 17 years in Corporate Finance with a Fortune 100 tech firm. It was a very rewarding career that encompassed a wide range of activities from treasury investment strategies and corporate capital structure to mergers and acquisitions.
A career in Corporate Finance usually requires an MBA, usually from a top 20 school. However, the rewards and opportunities clearly justify the effort.|||Accounting is more specific and an accountant will process journals, create accruals, balance sheets and profit and loss accounts. I did this for two years and found it very boring. It is very repititive and I felt like I had the same day every day for two years.
Finance is more general and will cover accounting as well as auditing, financial planning and financial advisor etc.
There are many difference jobs under Finance.
How do you handle your finance when subprime mortgage crisis hit you?
If any of you have hurt by mortgage crisis, could you please tell me your story and how do you handle your finance. How much percentage did your house%26#039;s price dropped? Is it affected your lifestyle?|||I have a low (5 1/2%) fixed rate loan so it has not affected me directly. The value of my home has probably fallen about 10%. But it has not affected my lifestyle since I am not planning to sell any time soon.|||Have a broker help you out with an FHA program!
www.mortgagefishing.com/quote.php?sour...
www.mortgagefishing.com/quote.php?sour...
What kind of math is used in the finance and economic industry?
I wanted to start studying for my major in college which is finance and I was just wondering exactly what type of math do businessmen use in the field of finance and economics?|||it might depend on which school you go to...diff schools diff requirements? the business school here, only requires up to college calculus...theres 2 types of calculus...engineering calculus and calculus...take the regular one, much easier|||The math used in economics and finance is calculus.
How much does a finance major make?
I am preparing to graduate college in may of 2008 and I am wondering what a 1st year finance major can expect there first year out. I have a 3+ GPA and I want to become and investment banker, any suggestions would be welcomed. My area of finance is corporate finance.|||It really depends on the field you%26#039;re going in, whether it%26#039;s sales or operations, with a mixture of bonuses and commission.
If it%26#039;s operations (such as backoffice of a financial institution) the starting wage can be mid 40%26#039;s to mid 50%26#039;s. With this field there%26#039;s no risk of losing money since you%26#039;re not depending on sales and so forth, but the tradeoff is that you%26#039;re only extra incentive comes from quarterly or year-end bonuses. Usually there%26#039;s little to no commission at all.
And of course with sales the potential to make money is unlimited. It really depends on where you%26#039;re going to start in. If it%26#039;s in banking, like myself, you%26#039;ll get a mid-range salary plus commission and bonuses. Or you can do the 100% commission route, which doesn%26#039;t start off bad, like for example at UBS they%26#039;ll pay your first year at $65,000, but after that it%26#039;s 100% commission, and if you don%26#039;t have $3 million in sales generated by the end of the first year then the tradeoof is that you%26#039;re let go. (I wonder about the $80,000 figure that was quoted in another blurb above and whether or not it has to do with the UBS example. I haven%26#039;t heard of anybody starting right away at $80,000, even with a Master%26#039;s.)
So all in all operations you%26#039;re looking at mid forties to mid fifties, sales it all depends on how much of a factor commission is.
Hope this helps.|||It all depends on how lucky you are in getting a job with a good company and a good offer. If you are good at interviewing and have good credentials, you should have no problem getting 80000, starting off, as my friend did just that. However, this does not include bonuses, which is what most ibankers make their money off of. Usually your bonuses will exceed your salary if you are good at what you do.|||salary.com will give you an answer!
If it%26#039;s operations (such as backoffice of a financial institution) the starting wage can be mid 40%26#039;s to mid 50%26#039;s. With this field there%26#039;s no risk of losing money since you%26#039;re not depending on sales and so forth, but the tradeoff is that you%26#039;re only extra incentive comes from quarterly or year-end bonuses. Usually there%26#039;s little to no commission at all.
And of course with sales the potential to make money is unlimited. It really depends on where you%26#039;re going to start in. If it%26#039;s in banking, like myself, you%26#039;ll get a mid-range salary plus commission and bonuses. Or you can do the 100% commission route, which doesn%26#039;t start off bad, like for example at UBS they%26#039;ll pay your first year at $65,000, but after that it%26#039;s 100% commission, and if you don%26#039;t have $3 million in sales generated by the end of the first year then the tradeoof is that you%26#039;re let go. (I wonder about the $80,000 figure that was quoted in another blurb above and whether or not it has to do with the UBS example. I haven%26#039;t heard of anybody starting right away at $80,000, even with a Master%26#039;s.)
So all in all operations you%26#039;re looking at mid forties to mid fifties, sales it all depends on how much of a factor commission is.
Hope this helps.|||It all depends on how lucky you are in getting a job with a good company and a good offer. If you are good at interviewing and have good credentials, you should have no problem getting 80000, starting off, as my friend did just that. However, this does not include bonuses, which is what most ibankers make their money off of. Usually your bonuses will exceed your salary if you are good at what you do.|||salary.com will give you an answer!
What is the name of a popular personal finance software program?
Perosnal Finance software helps you balance your check book and manage your finances.|||MSN Money and Quicken are always ranked the highest but they are labor intensive up front and require additional steps to keep it updated. If you%26#039;re looking for simplicity try mint.com but that lacks the ability to input your investments. It is secured using the same software many US banks use for firewalls.
What is the average starting salary for a Finance graduate?
Where can I find such info? (include a link). I am a Economics and Finance Bachelor of Business Admin graduating in May. I obtained my degree in the USA. I have 4 months of finance experience (currently employed full time as a financial analyst) and excellent academic record. What range of salary would be oferred (in UK) for someone with my qualifications? Where should I look for job listings? (I would like to live near London). Any advice would be greatly appreciated. Thank you.|||You will probably make in the range of $43,809 as a starting salary...not bad but you will have the opportunity to increase as you continue your years in the business..enjoy :)
http://www.cfo.com/article.cfm/3887186/c...|||go to salary.com and type in a job title--that%26#039;ll tell you based on geography and job/title/experience, etc
http://www.cfo.com/article.cfm/3887186/c...|||go to salary.com and type in a job title--that%26#039;ll tell you based on geography and job/title/experience, etc
What can a finance major expect to do as far as work goes?
I am considering finance, but all i have done in school is do problems. A lot of it is very difficult. Do finance majors use everything they learned in their jobs? What exactly do they do? How would a finance degree help me after law school?|||I%26#039;ve taught finance, have degrees in Econ and Finance, and have worked in financial services. So I%26#039;ve seen it from literally all sides of the fence.
Finance is a very broad field, just like many others. Here are just a few of the many jobs out there:
1) Financial Advisors who sell finance products--stocks, bonds, insurance, etc
2) Personal Bankers who open and close accounts--savings, checking, loan, cds, etc
3) Financial Analysts who evaluate investment opportunities, mergers, and projects
4) Investment Bankers who are involved in the issuance of stock, mergers and acquisitions (M%26amp;A), etc
Yes, we do use what we%26#039;ve learned in school. The only issue is to what degree. In other words, a personal banker doesn%26#039;t do the heavy-duty number crunching that an investment banker and financial analyst would. But they both have to have a knowledge of financial principles, concepts, and terminology.
For instance, a Stockbroker--often called Financial Advisor or Consultant--may or may not do his or her own research. He or she may simply rely upon the firm%26#039;s recommendations and use that. In other words, the firm already did the research and crunched the numbers, so why should I? Others will do their own number crunching for the opportunities the firm doesn%26#039;t focus on or investigate.
How would a law and finance degree help? Well you could investigate the financial possibilities and handle the legalities involved with it too. Someone without the legal background may only be able to handle the financial side of things. But when it comes to the legalities, he or she could be clueless. And rely upon the lawyers to take it the next step.
Bottom-line, fiance is no different than any other field. Some people use more of their training than others. But we all use part of it in some capacity.|||As a Finance graduate I used it to enter into a banking career a few years back. That%26#039;s one area to go with, a good start IMO because it%26#039;s works great as a sort of Financial %26quot;residency%26quot; for a few years. I know of other graduates who went off to become financial advisors, but that area is a lot riskier because they only have one good year%26#039;s worth of salary and then it%26#039;s 100% commission afterwards, so you essentially have 365 days to get your stuff together. Another area is one that I%26#039;m looking to move into soon, which is as a Financial Analyst for my state. The government usually has some great Finance jobs, and I like that feeling that what you do directly impacts your state. Another area is corporate Finance, but just like with working for the state you usually need a few years experience in order to qualify.
As far as using Finance problems at work, it%26#039;s both a yes and a no. I%26#039;ve come across a few of the stuff I use to do in my Finance classes, but not nearly as much as I thought it%26#039;d be. I know though as a future Financial Analyst it%26#039;ll definitely be daily stuff. I guess it really depends which realm of Finance you go into.
Good luck.
Finance is a very broad field, just like many others. Here are just a few of the many jobs out there:
1) Financial Advisors who sell finance products--stocks, bonds, insurance, etc
2) Personal Bankers who open and close accounts--savings, checking, loan, cds, etc
3) Financial Analysts who evaluate investment opportunities, mergers, and projects
4) Investment Bankers who are involved in the issuance of stock, mergers and acquisitions (M%26amp;A), etc
Yes, we do use what we%26#039;ve learned in school. The only issue is to what degree. In other words, a personal banker doesn%26#039;t do the heavy-duty number crunching that an investment banker and financial analyst would. But they both have to have a knowledge of financial principles, concepts, and terminology.
For instance, a Stockbroker--often called Financial Advisor or Consultant--may or may not do his or her own research. He or she may simply rely upon the firm%26#039;s recommendations and use that. In other words, the firm already did the research and crunched the numbers, so why should I? Others will do their own number crunching for the opportunities the firm doesn%26#039;t focus on or investigate.
How would a law and finance degree help? Well you could investigate the financial possibilities and handle the legalities involved with it too. Someone without the legal background may only be able to handle the financial side of things. But when it comes to the legalities, he or she could be clueless. And rely upon the lawyers to take it the next step.
Bottom-line, fiance is no different than any other field. Some people use more of their training than others. But we all use part of it in some capacity.|||As a Finance graduate I used it to enter into a banking career a few years back. That%26#039;s one area to go with, a good start IMO because it%26#039;s works great as a sort of Financial %26quot;residency%26quot; for a few years. I know of other graduates who went off to become financial advisors, but that area is a lot riskier because they only have one good year%26#039;s worth of salary and then it%26#039;s 100% commission afterwards, so you essentially have 365 days to get your stuff together. Another area is one that I%26#039;m looking to move into soon, which is as a Financial Analyst for my state. The government usually has some great Finance jobs, and I like that feeling that what you do directly impacts your state. Another area is corporate Finance, but just like with working for the state you usually need a few years experience in order to qualify.
As far as using Finance problems at work, it%26#039;s both a yes and a no. I%26#039;ve come across a few of the stuff I use to do in my Finance classes, but not nearly as much as I thought it%26#039;d be. I know though as a future Financial Analyst it%26#039;ll definitely be daily stuff. I guess it really depends which realm of Finance you go into.
Good luck.
How to find a topic in corporate finance to write a paper?
Currently, I am a mba student, and I am really interested in finance. So I wanna find an interesting topic in corporate finance to write a paper, through which I can mine more knowledge in this field. Thanks for your help.|||explain how the use of derivatives can be uesed to determine maximum profit and minimal cost, if you need any help just shoot me an email (dani_california90@yahoo.com). i just wrote a paper on that for today for my AP Calculous class and have some examples if you need any...
How quickly can I finance a car after my bankruptcy is discharged?
We are filing a Chapter 7 bankruptcy, and it is due to be discharged by May. How long after that can we finance a car for a decent rate?|||%26quot;a decent rate%26quot;? Good luck.
Here%26#039;s how you get out of your mess, and into a better car.
STEP 1: You%26#039;re broke right now; buy a broke person%26#039;s car for right now.
I just did a search on Yahoo Autos, for:
1) Cars within 50 miles of Los Angeles
2) Asking price between $1 and $2,000
3) Mileage of more than 10,000
I found 142 cars listed.
After sorting by mileage, the one in the middle is a 1997 Dodge Neon with 140,000 miles asking $1,000.
------------
STEP 2: Take the $400/mo you were planning on paying for car payments, and put it in the bank instead.
----------
STEP 3: March 2009: After 12 months, you%26#039;ll have $4800 in the bank.
Trade in your $1,000 beater for a $5,500 car.
Another Yahoo search:
1) 50 miles of LA
2) 10,000+ miles
3) Price between $5,000 and $6,000
This time, there%26#039;s over 1,100 cars listed.
Sort by mileage, the three near the middle are:
2001 Nissan Altima, 1994 Toyota Camry, 1994 Mercedes E-class, with 99,300 miles.
------------
STEP 4: Continue saving $400/mo for another 12 months. You%26#039;d%26#039;ve committed to giving that money to the car dealer, so you should be able to afford this, right?
----------
STEP 5: It%26#039;s March 2010. Now, the car you bought for $6,000 is worth about $5,000, and you have another $4,800 cash. For $9,000-$10,000, we%26#039;re looking at a 2004 Toyota Corolla, or a 2000 Mercedes C-class with about 74,000 miles.
--------
STEP 6: March 2011 (three years from now): Continue making that same $400/mo car payment that you were planning to make, but now, you have $4,800 cash, and a trade in worth about $8,500. Now, for $12,000-$13,000, you%26#039;re looking at some three year old cars.
YOU NOW HAVE THE SAME 2008 CAR YOU WOULD HAVE BOUGHT TODAY.
BUT YOU AVOIDED TWO FULL YEARS OF CAR PAYMENTS.
AND NEVER HAD TO OWE ANYONE A DIME
OR EVER RISKED GETTING THE CAR REPOED, BECAUSE YOU PAID CASH EACH TIME.
-----------
STEP 7: Now for the crazy part:
Finish the last two years of car payments, but this time, put the money into a mutual fund.
Let it sit for 20 years, and watch two years of $400/mo (that you would have given to the car dealer as the 4th and 5th years of payments) turn into over $50,000.
That%26#039;s a free car.|||Excellent!!! I loved the way you broke it down. Everyone Should Hear This! There probably wouldn%26#039;t be as many people having a hard time making payments on their car if they did it this way! I definitely will! Thanks! Report Abuse
|||You will need a substantial down payment.|||I just had a chapter 7 discharge in January of this year. As soon as it was discharged....days, I was receiving offers to buy a car from like 20 different dealerships. Usually the dealerships have special sections that deal w/bankruptcy%26#039;s, repossessions, divorce, etc etc. They usually have a group of companies that work with high risk clients. The interest rate and payments may be a bit steep, but there are deals to be had as far as how much money you bring to the table to deal with and how flexible you going to be with how much of a payment you can handle. But generally, you can go to dealerships right after bankruptcy and bring your discharge papers and apply for loans and most likely get approved, but again, at a high rate and higher payment than most. And the deposits may be hefty depending on how low your credit score is at the time of applying.
Here%26#039;s how you get out of your mess, and into a better car.
STEP 1: You%26#039;re broke right now; buy a broke person%26#039;s car for right now.
I just did a search on Yahoo Autos, for:
1) Cars within 50 miles of Los Angeles
2) Asking price between $1 and $2,000
3) Mileage of more than 10,000
I found 142 cars listed.
After sorting by mileage, the one in the middle is a 1997 Dodge Neon with 140,000 miles asking $1,000.
------------
STEP 2: Take the $400/mo you were planning on paying for car payments, and put it in the bank instead.
----------
STEP 3: March 2009: After 12 months, you%26#039;ll have $4800 in the bank.
Trade in your $1,000 beater for a $5,500 car.
Another Yahoo search:
1) 50 miles of LA
2) 10,000+ miles
3) Price between $5,000 and $6,000
This time, there%26#039;s over 1,100 cars listed.
Sort by mileage, the three near the middle are:
2001 Nissan Altima, 1994 Toyota Camry, 1994 Mercedes E-class, with 99,300 miles.
------------
STEP 4: Continue saving $400/mo for another 12 months. You%26#039;d%26#039;ve committed to giving that money to the car dealer, so you should be able to afford this, right?
----------
STEP 5: It%26#039;s March 2010. Now, the car you bought for $6,000 is worth about $5,000, and you have another $4,800 cash. For $9,000-$10,000, we%26#039;re looking at a 2004 Toyota Corolla, or a 2000 Mercedes C-class with about 74,000 miles.
--------
STEP 6: March 2011 (three years from now): Continue making that same $400/mo car payment that you were planning to make, but now, you have $4,800 cash, and a trade in worth about $8,500. Now, for $12,000-$13,000, you%26#039;re looking at some three year old cars.
YOU NOW HAVE THE SAME 2008 CAR YOU WOULD HAVE BOUGHT TODAY.
BUT YOU AVOIDED TWO FULL YEARS OF CAR PAYMENTS.
AND NEVER HAD TO OWE ANYONE A DIME
OR EVER RISKED GETTING THE CAR REPOED, BECAUSE YOU PAID CASH EACH TIME.
-----------
STEP 7: Now for the crazy part:
Finish the last two years of car payments, but this time, put the money into a mutual fund.
Let it sit for 20 years, and watch two years of $400/mo (that you would have given to the car dealer as the 4th and 5th years of payments) turn into over $50,000.
That%26#039;s a free car.|||Excellent!!! I loved the way you broke it down. Everyone Should Hear This! There probably wouldn%26#039;t be as many people having a hard time making payments on their car if they did it this way! I definitely will! Thanks! Report Abuse
|||You will need a substantial down payment.|||I just had a chapter 7 discharge in January of this year. As soon as it was discharged....days, I was receiving offers to buy a car from like 20 different dealerships. Usually the dealerships have special sections that deal w/bankruptcy%26#039;s, repossessions, divorce, etc etc. They usually have a group of companies that work with high risk clients. The interest rate and payments may be a bit steep, but there are deals to be had as far as how much money you bring to the table to deal with and how flexible you going to be with how much of a payment you can handle. But generally, you can go to dealerships right after bankruptcy and bring your discharge papers and apply for loans and most likely get approved, but again, at a high rate and higher payment than most. And the deposits may be hefty depending on how low your credit score is at the time of applying.
Monday, March 23, 2009
Is a Finance internship at Prudential Preferred Properties good for the resume?
A friend will be going from Indiana to downtown Chicago for the non-paying internship. Its his first shot at the finance field during undergrad. Is it worth it?|||Depends on what he is going to do when he gets out of college.
While it won%26#039;t be a black mark, unless he screws up, it won%26#039;t necessarily help him unless he stays in that career field.|||Absolutely
Manangers will see that he is anxious to learn, the knowledge will be very helpful.
John W.
While it won%26#039;t be a black mark, unless he screws up, it won%26#039;t necessarily help him unless he stays in that career field.|||Absolutely
Manangers will see that he is anxious to learn, the knowledge will be very helpful.
John W.
How possible would it be to finance a rather cheap house?
Ok, this is starting to get rather confusing. I am looking to buy a home in a surprisingly cheap neighborhood. The house I am interested in purchasing is under $50,000. My credit qualifies me for a bad credit loan, but no one wants to finance for such a small amount. I am definately trying to live within my means and do not necessarily want to purchase a higher value home just because I can. Does anyone have any idea where I can finance such a house even though my credit is tarnished (but getting fixed due to multiple discrepencies)? I know there are different requirements depending on the state. My state is PA, and I am first time homebuyer.|||yes of course theres a way! it sounds as if the banks/mortgage companies you are contacting just are not the right ones. If you have blemished credit there are still tons of places out there willing to lend you the money- some may want a down payment or minimal downpayment - but there are sometimes ways to work around that, you just need to get ahold of the right people. It makes no sense at all that they would be willing to lend you more - but not less. So that leads me to believe that possibley this home you want to buy needs work? if thats the case then you may have better luck looking either towards a government loan such as 203k if you qualify, and if not maybe towards a investor loan (hint google search hard money in your area). you might want to try country wide at 1-800-825-4549, or priority at 1-888-685-5885, or 813-473-4702. from my experiences none of these places have a minimum they will lend- but some of it depends on the home. If your credit is that bad- you may beed a small down payment. If in a couple of months you have exhausted your resources - then maybe you should work on getting your credit repaired.! here%26#039;s a site worth looking at if thats the case: http://www.ftc.gov/bcp/conline/pubs/cred...
good luck|||The main ways are
1) seller financing
2) hud financing, government inst. help with first time home buyers
3) ask family and friends if they are willing to loan you the money
4) http://www.investinuglyhomes.com
good luck|||The main ways are
1) seller financing
2) hud financing, government inst. help with first time home buyers
3) ask family and friends if they are willing to loan you the money
4) http://www.investinuglyhomes.com
How to finance investment property with almost zero down?
I own two condos one, I live the other I am renting out. Both dont have any equity yet. I already have 51% debt to income. I can still afford MXM 5K down including closing costs and tax prepayments. My interest is to buy foreclosures and sell after ~2 yrs. I am aiming at high end units that can currently be bought at ~200K but will apraise to ~350 in about 6mos. Is there a way to find finance in this situation.|||get a team of people who have money to finance this deal and split the profits. Hard money lenders will lend up to 65% of the appraised value. However, I worked with some that based the loan on the property itself as I am very sharp into finding good deals and have built a trusting relationship with them.
You could also control the property by having a 6 month purchase option contract on that property and then assign your rights to a retail buyer or other investor.
Trust me, if you can find deals like that, finding the money is easy.
Regards...
You could also control the property by having a 6 month purchase option contract on that property and then assign your rights to a retail buyer or other investor.
Trust me, if you can find deals like that, finding the money is easy.
Regards...
How to convince recruiters about a career change to Corporate Finance?
I am an Industrial engineer and want to make a move to Corporate Finance, one of the questions I get most often is why do I want to make such a career change and how I see myself fit into this role ? or justify how you can do well in Corporate Finance role despite your non finance background?
I am currently enrolled in a full time MBA program and planning to take finance courses but I want to know how I can really sell myself on this idea ?|||You need to find a hiring manager that will take a chance on you. Avoid head hunters or recruiters. They are looking for easy, no-brainer, matches. They are usually a step up from used car salesmen in my opinion.
You may need to take a cut in pay to make this happen. I made a career change in IT from one technology to another and I was able to find a manager that took a chance on me, but I had to take a 20% cut in pay. At the time, I had no mortgage or kids and I was able to do it without it seriously impacting my lifestyle.
Good luck.
I am currently enrolled in a full time MBA program and planning to take finance courses but I want to know how I can really sell myself on this idea ?|||You need to find a hiring manager that will take a chance on you. Avoid head hunters or recruiters. They are looking for easy, no-brainer, matches. They are usually a step up from used car salesmen in my opinion.
You may need to take a cut in pay to make this happen. I made a career change in IT from one technology to another and I was able to find a manager that took a chance on me, but I had to take a 20% cut in pay. At the time, I had no mortgage or kids and I was able to do it without it seriously impacting my lifestyle.
Good luck.
What is the different between finance and accounting?
What is really different between finance and accounting?
Finance: is money management, including investment.
Accounting: make records for the profit and liability.
Is that right?|||You finance to finance and account to accounting. LOL|||Fundamentally accounting deals with hard numbers, or in some cases, proxies for hard numbers (like good will, to which a currency-based value can be assigned). Finance was developed out of accounting practice by international companies like IBM and GE that needed to incorporate strategy into their evaluation of hard numbers, which is called performance. An analogy is the field of marketing which was developed out of sales for similar reasons. In both cases, the impact of market forces is incorporated into performance projections to forecast what the numbers mean. Finance studies trends, benchmarks, projections, impact, and return on investment, among other things. Accounting provides the data for these considerations. That data includes profit and loss. As for liability, it is calculated both in real terms, i.e. what you owe or the value of what you own; and in soft terms, what your exposure to risk is. Wall Street will evaluate a tobacco or pharmaceutical company in terms of the potential loss from a law suit and count this as a liability. Finance does include money management and investment.|||it is practically correct in common sense. Acctg accounts the assets and liabilities for the balance sheet purposes %26amp; the sales and expenses for the profit/loss for a certain period. In some (big) companies acctg is a part of Finance.
Finance: is money management, including investment.
Accounting: make records for the profit and liability.
Is that right?|||You finance to finance and account to accounting. LOL|||Fundamentally accounting deals with hard numbers, or in some cases, proxies for hard numbers (like good will, to which a currency-based value can be assigned). Finance was developed out of accounting practice by international companies like IBM and GE that needed to incorporate strategy into their evaluation of hard numbers, which is called performance. An analogy is the field of marketing which was developed out of sales for similar reasons. In both cases, the impact of market forces is incorporated into performance projections to forecast what the numbers mean. Finance studies trends, benchmarks, projections, impact, and return on investment, among other things. Accounting provides the data for these considerations. That data includes profit and loss. As for liability, it is calculated both in real terms, i.e. what you owe or the value of what you own; and in soft terms, what your exposure to risk is. Wall Street will evaluate a tobacco or pharmaceutical company in terms of the potential loss from a law suit and count this as a liability. Finance does include money management and investment.|||it is practically correct in common sense. Acctg accounts the assets and liabilities for the balance sheet purposes %26amp; the sales and expenses for the profit/loss for a certain period. In some (big) companies acctg is a part of Finance.
What careers would be good for finance/accounting and criminal justice?
I took a career interest test and I was a 100 percent match for finance/accounting and criminal justice. All other careers were 75% or less. This seems to be right for me. Now my question is which careers in these fields would be a great choice, as far as pay, job demand, and schooling? I am 28 years old and have 2 children if this helps and i am enrolled in a community college. Thank you for your help.|||Certified Fraud Examiner , it is an accounting career that is involved in fighting fraud and other financial crime. You could work in many criminal justice fields higher up, you need a accounting backgroud and education.|||You could work for the IRS. They want people with accounting and criminal justice backgrounds.
What is the name of a popular finance program?
Personal finance software helps you balance your checkbook and manange your finances. What is the name of a popular personal finance program?|||what is wrong with a pen and paper works real great if the electric goes off!!!|||A few popular ones is Quicken, and Microsoft Money. If you%26#039;re interested in managing your money, there%26#039;s an interesting free one at wesabe.com as well.
How would I convince a bank to finance my business?
Say I got a bank to finance my business, the product which I sold ended up being a failure on the market and now the banks don%26#039;t want to finance my business. What could I do to convince them to help me finance for my new product?|||You%26#039;ll need a good solid business plan and have figures and answers to back it up. Plus some money out of your own pocket.
How should I start my finance career?
I work in Maintenance as a Engineer, I asked a similar question before regarding about CFA and MBA, but just to get a taste of Finance, is there any courses I can take? I live in the Toronto Area. Please help. Thanks.|||The head office of Edward Jones is in Mississauga. They prefer to hire people with no background in Finance so that they can put you through their 6 month training program. Other than that, either get a job in a bank, insurance company, etc or get your licenses to sell any of the following: life insurance, securities, mutual funds, etc.
What banks can finance a single family residence under 600 square feet?
Hello. I am attempting to buy a foreclosure in San Diego that is a single family residence with a total square footage of 528. I was told it is difficult for banks to finance anything under 600 square feet. The house is in good shape but its tiny. I need financing asap since the bank already accepted my offer. Thanks.|||Are you working with a Realtor? Ask them to suggest someone.
If not, Find a Mortgage Broker/Banker who can shop the market for you and find an investor who will finance you.
If you cant find anyone, I hope you made the offer contingent on you finding financing, if not, you are out of your earnest money when you back out.
Good Luck!|||I dont know of any.........maybe hard money loan but you%26#039;ll have to bring in a big down payment.
Why would you place an offer without working out the financing first? Hope it was contingent upon financing.
Ask the bank that accepted your offer if they will finance.......they did at one point.
Good Luck|||If you need a mortgage consultant to help you with financing on your purchase feel free to get in contact with me. I%26#039;m in orange county.
If not, Find a Mortgage Broker/Banker who can shop the market for you and find an investor who will finance you.
If you cant find anyone, I hope you made the offer contingent on you finding financing, if not, you are out of your earnest money when you back out.
Good Luck!|||I dont know of any.........maybe hard money loan but you%26#039;ll have to bring in a big down payment.
Why would you place an offer without working out the financing first? Hope it was contingent upon financing.
Ask the bank that accepted your offer if they will finance.......they did at one point.
Good Luck|||If you need a mortgage consultant to help you with financing on your purchase feel free to get in contact with me. I%26#039;m in orange county.
Is Computer Science considred a quantitative major for finance jobs?
I want to work in investment banking/ finance after college, and was wondering if Computer Science would be a good quantitative major for an undergraduate degree.
Ultimately, I want to get an MBA right after or at least a Masters of Finance degree before I start working.|||I agree with the first answer. I would encourage you to go for your MBA in finance. Have a great day!|||It is and it isn%26#039;t. Depends on what part of the financial sector you want to apply for, after college. A computer science degree is a definite plus for these institutions, but you would need to have studied some related units.
Investment banks would look for specific related units:
Quantitative Methods
Management Accounting
Economics
Capital Management/Corporate Finance.
A degree in information systems and management fits the bill, but a pure computer science degree is not a pertinent subject, unless you want a job in IT. So, your plan to do an MBA is an excellent career move. Good luck.|||If you want to work in investment banking, just note that you need to attend an MBA from a top ranked program. It%26#039;s as simple as that.
Computer science is a great degree to get (assuming you%26#039;re interested in it), as it allows you real professional work experience in a major company, which is what any half-decent MBA program is going to require.
Ultimately, I want to get an MBA right after or at least a Masters of Finance degree before I start working.|||I agree with the first answer. I would encourage you to go for your MBA in finance. Have a great day!|||It is and it isn%26#039;t. Depends on what part of the financial sector you want to apply for, after college. A computer science degree is a definite plus for these institutions, but you would need to have studied some related units.
Investment banks would look for specific related units:
Quantitative Methods
Management Accounting
Economics
Capital Management/Corporate Finance.
A degree in information systems and management fits the bill, but a pure computer science degree is not a pertinent subject, unless you want a job in IT. So, your plan to do an MBA is an excellent career move. Good luck.|||If you want to work in investment banking, just note that you need to attend an MBA from a top ranked program. It%26#039;s as simple as that.
Computer science is a great degree to get (assuming you%26#039;re interested in it), as it allows you real professional work experience in a major company, which is what any half-decent MBA program is going to require.
How to finance a new Mustang with bad credit and low down?
Any ideas? I make good money, nearly 3-4 thousand dollars a month. But I%26#039;m self employed and have collections because of past medicals. Does Ford Motor finance people like me? I talk to dealers here and they try to take 3-4 thousand down to switch me to a 2002 escort.|||I don%26#039;t mean to sound rude, but take a hint. If the finance companies want a HUGE down payment it%26#039;s because they think either you are a high risk or with your current bills, cannot afford the payments on the car with so little money down. Apparently Ford finance thinks you can only afford the payments if they were based on $3-4k down. That%26#039;s usually a big hint you would be living beyond your means. If you don%26#039;t have much money to put down on any new car, it%26#039;s a sign you can%26#039;t afford the vehicle. If you have to finance your life away for something, you simply can%26#039;t afford it.|||All the above are correct. Get out of your credit hole so you can afford a mustang. I make far less than you but budget my money wisely. I saved for four years and was able to purchase (with my trade in) a brand new 07 mustang. Take a money management course, cut out stupid spending and save your pennies. You will need to fix your credit either way.|||You need to face reality. Until you repair your credit, or pay cash, you will be driving Escorts...
Maybe you can swing a Focus...|||You should %26#039;throw%26#039; those 3-4k in paying off your medical bills first. |||get out of one credit hole before jumping into another
Maybe you can swing a Focus...|||You should %26#039;throw%26#039; those 3-4k in paying off your medical bills first. |||get out of one credit hole before jumping into another
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