Tips for Identifying, Applying for and Getting the Best Auto Loans in Central and Eastern Europe

Tips for Identifying, Applying for and Getting the Best Auto Loans in Central and Eastern Europe

Lenders charge different rates on their auto loans. Some charge lower rates. Others charge higher rates, but are willing to lend to customers that the normal banks would dare not touch. For this reason, it is important for borrowers to understand more about the issue of car loans. Otherwise, they will apply for whatever they consider the best auto loans for consumers without having adequate, relevant information.

The good news is anybody can learn to identify, apply for, and get the best loans. Before applying for the loan, consumers have to get a few things right first. These include:
a) Identifying the desired car
b) Obtaining a good price/rate for the car
c) Finding the most suitable and affordable way of funding the purchase
So, what should consumers do to get the best loans?

Check Your Credit

No lender will approve the loan application without looking at the borrowers’ credit. It is worth noting that lenders do not look at credit in isolation. They also consider the borrower’s income. Good credit enables borrowers to receive low-interest rates. Bad credit makes you a huge risk; hence, likely to have to pay high-interest rates.

Check Your Spending Power

The borrower’s spending power is also a huge factor here. Failure to consider this will expose you to the possibility of having nothing left after making the monthly payments to meet your other financial obligations. Do not rely on salespeople to educate you on this issue. After all, they are only interested in convincing you to buy the car you have loved.

Plan Long-Term

Do you limit yourself to loans that last a long or short time? How much down payment do you make? You may feel good about the small down payment you made today before looking at the long-term repercussions. Also, stretching the loan to last a few more years might seem good until you realize the higher interest rates will cancel the benefits of your low monthly payments.

An option is to save and pay cash for the car. However, this is not achievable for many people. Thus, an alternative is to pay a down payment of at least 20 percent and repay the rest in a shorter time if you can afford the repayment amounts. If you can afford it, apply for a loan that you can repay in less than five years.

Shop Around

Nothing guarantees you better results than shopping around. Do not settle on the first lender you come across. You never know if the first deal you got is the best until you check with other lenders. The dealership is only one source of the best auto loans. Feel free to check with other lenders. The ones worth applying to include:
a) Credit union
b) Bank
c) Online lender
d) P2P

Avoid Repayment Penalties

Repayment penalties can make your loan much more expensive than you anticipated. Negotiate the loan with the understanding that nothing in life stays the same forever. Your situation could change – for the better or worse. Look for lenders who have lower repayment penalty rates, flexible terms and are more receptive and understanding of the borrowers’ situations.

Lastly, always remember that the auto loan lender is already protected. The lender isn’t doing you any favors. Instead, the lender is providing a service you need, and for which, you are also willing to part with some money. Therefore, find ways of protecting yourself as well as your loved ones. Don’t go for a loan that is likely to jeopardize your loved ones’ financial future.

Visit Business and Leadership for more assistance.

Using Sports to Change Youths’ Lives

As late as 2016, unemployment, poverty, social exclusion, and drug use were among the topmost challenges facing the youth in Europe. A disturbing number of young people were also neither in education nor any form of training. These are pretty much the same problems facing youths in different countries and continents; including the former Soviet Union, parts of Europe, Turkey, and much of Africa. While efforts are being made to ensure youths are educated and employed; talent development should also be an area of focus to help youths cope and rise out of poverty and the evils associated with it. Promotion of sports such as baseball, basketball, and soccer is one the ways to change the lives of youths.

That sports can change lives is evidenced by star players who rose from humble backgrounds to succeed. Though this narrative does not apply to all talented players of different sports, engagement in it can indeed result in social change. Here’s how baseball and other sports can help change the lives of the youth.

An alternative source of fun

Poverty and the problems it brings with it have the ability to drive youth into substance abuse. For many youths, this is a misguided attempt to feel happiness and a sense of freedom, though momentary, from the problems that plague them. Sports are an alternative fun activity that gives the youth something positive to think about and engage in, other than the problems they face. Psychologists also link sports especially endurance sports to the reduction of stress. It also has physical health benefits.
An environment to develop friendships

Sports bring people of different races, tribes, and even social class together. In that field, youth can learn to compete in a friendly manner and see each other in a different light. Dressed in like sets of baseball uniforms, youths are able to see their team members as equals and forget their differences at least for the duration of the games. Over time this becomes the norm. It also presents an opportunity to form strong bonds of friendship and loyalty that might be difficult to cultivate in an environment where everyone is struggling to survive. It promotes acceptance and inclusion and an environment where meaningful discussions and mentorship can also take place more freely.

An opportunity to cultivate discipline, hard work and resilience

All sports including baseball have universal rules that must be followed. They also require one to exert themselves often beyond their comfort zone. As youths engage in sports, they are likely to learn the principles of discipline and hard work. They also build physical and mental strength. Excellence in sports even if it is at a local level with no monetary gains also helps to build confidence and self-esteem among the youth. During a baseball, game players have to deal with losing to the opposing team. They learn to take failure in their stride, learn from it and bounce back stronger. It can foster resilience among the youth. These are qualities they can apply outside the field.

How to help

Individuals, organization, and governments can help change the lives of youths by ensuring that they have access to a safe space to play, shoes to protect their feet, sets of uniforms, and caps and helmets for their heads. By doing this, they can contribute to a healthier, happier youth and provide, even if it is for a few youths; a ticket out of a life of poverty, exclusion, and substance abuse.

Building and Maintaining Homes in Underdeveloped Areas

Housing is one of, if not the biggest issue facing underprivileged populations both in the US/Europe and around the globe.  Finding affordable, sustainable and quality housing for the masses has proven both a difficult and worthwhile challenge to governments, NGO’s and aid agencies around the world.  There are many challenges, such as regulatory red-tape, natural resources and political climates.  Today, however, we are going to talk about a more tangible issue facing us, the actual building and maintaining of homes and buildings.

Home and Builing Construction in Under-Utilized Areas

The U.S. Government has different benefits and designations for under-utilized areas, such as the “Historical Under-Utilized Business Zones”, or “Hub Zones“.  Given that there are many incentives in developing in these areas, it can make financial and regulatory sense to go that route.  However, you will need to make sure you are using contractors that can handle these regulatory requirements and/or are already certified hubzone contractors.  This is covered below when we talk about sourcing contractors for your projects.

“Going Green” with LEED Certification

Another ting to keep an eye on for construction initiatives are the incentives associated with building “Green” buildings.  No, not the color green, but the environmental kind.  “LEED” certification has been used in the US and elsewhere for years to classify and certify buildings that follow green practices, and there are government tax incentives for following them.

It makes sense to follow these practices not just for the short term financial benefit, but also for the longer term maintenance costs.  A green building will likely cost 30% less then a non-green buildings when it comes to energy costs.  When building for underprivileged populations, the energy costs often fall on the owners, so it makes sense to try and reduce this as much as possible.

Low-Income Tenant Tax Incentives

While perhaps obvious to most people undertaking these initiatives, be sure not to leave any money on the table regarding potential tax incentives for providing low-income housing and resources.  Remember, local, city and national governments can all provide tax credits or other incentives for this, so make sure to contact an experience tax professional in your country for the best possible opportunities.

Sourcing Contractors for Building Initiatives

Sourcing contractors can be difficult but there are many tools available to help handle this.  Make sure to include in your RFQs all necessary certifications (both quality and diversity) along with any other governmental regulations that might be necessary.

Be sure to get explicit confirmation surrounds these requirements.  Don’t assume anything.  As we all know, when it comes to red tape, the letter of the law is very stringent, so make sure you have everything in writing, including certificates/etc.

 

 

The Emigrants Life – Moving House and Home to a new country

Let’s face it, life is not perfect. It will never be. And there are some people who are facing life situations much harder than others. This depends directly in the kind of country you’re living, its culture, its politics, its religious views and the average behavior of the inhabitants of that country.

emigrants moving to the USA

Sometimes you’re born in one of these countries while having a higher mindset that tends to go above the standards, most of the time in an intellectual way, sometimes you’re just way more visionary than the rest. And this is the moment where you realize the country you live in will progressively represent a boundary on your personal development and what you do. This is the moment where you start considering emigration, and moving your home (and family) to another country you consider it offers the lifestyle and opportunities you’re looking for.

You just need to have a fairly clear concept of what involves emigrating and the different changes, sometimes drastic, your life will take; which, you will likely not be perfectly comfortable with all of them. This is why we’ll be giving you 5 tips to meditate and think about as a way to prepare yourself for a life changing process.

1. Be open-minded.

Do not attach yourself to your culture, political or religious views. You’re about to see a whole new world where people will have a different ethical pattern. This is something that commonly results uncomfortable for people who migrate to more modern countries than theirs, and they start finding features and beliefs they do not share.

You don’t have to share them, just be aware that you’re in a different environment where that’s perfectly normal. You don’t have to feel uncomfortable or frightened.

2. Be friendly and respectful of others.

Show your new foreign countries acquaintances that you’re someone anyone would enjoy to be with is a key to success. It’s a clean way to earn the acceptance of people with higher education standards and a more open culture, furthermost one of the best personal growth experiences.

3. Be ready to get out of your comfort zone.

In any situation, moving to a new home is going to be difficult, especially when you are in a new country.  You’re in a different world where things will very likely work different. You will be demanded a certain level of preparation in your area of professionalism, as well as a certain level of education and professional ethics you were probably not used to, and you will have to meet the requirements in order to create successful relationships.

4. Economic standards will be different.

One of the most common reasons behind moving to another country is probably the source of income and your overall monthly profit, which is clearly going to be much higher than before. Anyways, remember that life’s price is different from one country to another, and you can’t close your mind into paying the same cost of living you used to pay earlier with a higher salary, but look for a stable relation on profit and expenses.

This is a really important one. The laws you probably overlooked in your former country might be of outermost importance in your new country. So be mindful of overall ethics, transit laws and rule charts in any place you visit.

Resources:

https://www.dhs.gov/how-do-i/move-united-states

French Influence on Households in Developing Nations

A number of developing countries have in one way or the other depended on developed countries for their survival. Interactions between developing and developed countries can be traced back to times before colonization, and then colonization happened. Developed countries have currently assumed “big brother” status in their relationships with the developing world. In the face of looming ecological and economic crisis, a number of international conventions have led to the development of policies and international commitments that have seen developed countries focus on improving certain sectors of life in their developing counterparts.

French Flag
The French Flag (pictured above) – France has left its mark across the globe, and continues to do so in a post-imperialist society.

Foreign Influence after Imperialism

France is one such developed country on a mission to make the world a better place. As a country, it has made several commitments to improving lives in developing countries with the key areas of focus being health, environmental health and climate change related issues as well as poverty reduction. This is achieved through coordination and cooperation of the ministry of economy and finance, the ministry of foreign affairs and the French Development Agency in conjunction with investors from the private sector. The French government has invested a considerable amount of money in donor funding particularly in the education and health care sector. As of the year 2008, France had invested a total of €20 million to enable the fast tracking of multilateral initiatives aimed at improving the education conditions of developing countries. In the same breath, it donated €130 million yearly towards improving accessibility and quality of basic education in developing countries. As a result, the percentage of individuals enrolling in schools for basic education has gone up by sixteen percent in sub Saharan Africa from the year 1996 to the year 2006.

Health Care and Other Influences

The Impact of French on Other Countries
French families and culture have spread influence throughout the globe.

On the health care front, France has been at the fore front of championing for universal health care. This has seen the country advance €2 million to an informal network comprising of South Africa, Senegal, Brazil, France, Indonesia, Thailand and Norway for the purpose of subsidizing health care facilitation and strengthening efforts towards the various social protection needs of the member countries. By so doing, they have enabled developing countries such as Chile, Thailand, Rwanda and Gabon make immense strides in their respective health care sectors. Gabon for example has been empowered to be innovative in their fund raising so as to source funds that can be dedicated to health care of their citizens.

On a smaller and more personal scale, the impact on individual households can also be felt.  Use of modernized equipment like vacuum and steam cleaners and other “appareil entretien maison” (household appliances), has risen in recent decades due to the modernization brought on, at least in part, by French influences.

Economic Impact

While the monies invested in developing countries through donor funding does not necessarily trickle down to the pockets of individuals of the respective countries at the grass root levels, the effects are more wholesome and far reaching from a societal point of view. By enabling access to basic and higher education and improving health care facilities, donor aid by France is improving the lives of members of developing country households. The French influence on households in developing countries thus takes a rather indirect dimension. By providing educational enlightenment and improving the health care services and consequently the health of individuals in developing countries, France through donor aid is investing in a future where developing countries have both the intellectual capacity and manpower to reach their full potential.

Financial Education for Developing Countries

Financial EducationPoor people in third world countries have dreams and visions just like everybody else all over the world. The major difference between these people in developing countries and the ones in developed countries is that the poor ones lack opportunities and resources. Money management is a challenge facing the people in developing countries. It is difficult to make future planning when making ends meet on a daily basis is a struggle in itself. To reduce “outflow”, poor people end up minimizing expenditure and consumption in many ways. popular strategies of controlling the outflows include

  • opening savings accounts for various purposes such as dowry, building houses, health expenses and buying land
  • designating the income resources for specific expenditures
  • purchasing food stocks and any other basic needs in bulk
  • keeping written account of one’s personal expenses

In times of stress, it is normal for poor people to cut back on expenses for clothing and education. The number of meals in a day may even be reduced. Furthermore, the family may move to a cheaper house.

INTRODUCTION OF MICROFINANCE

Even though informal saving continues to be an important part of money management in developing countries, the introduction of microfinance industries is playing a major role. Not only do the microfinance industries offer a wide range of products and services to their clients, they also seek new strategies for becoming even more profitable than they already are. Few of the microfinance industries are currently forming alliances with various financial institutions so as to effectively deliver their services.

Choosing the correct microfinance company to invest in is quite crucial due to the increasing number of services. One needs a lot of skill and information to calculate the costs and the amount required to make repayments. It is the role of the microfinance industries to empower their clients to make strategic choices regarding the use of these financial services which are a benefit to both the client and the company.

OBJECTIVES OF FINANCIAL EDUCATION

The main purpose of financial education is to make people aware of the different concepts of proper money management. It aims at enabling people to be more informed when it comes to making financial decisions on spending and budgeting.

Financial literacy helps people to set realistic financial goals and optimize their options.

Financial education covers a wide scope of topics ranging from managing risks, managing one’s cash flow and building assets.

BENEFITS OF FINANCIAL EDUCATION

In this context of developing countries, financial education is majorly helpful to the poor people who are vulnerable to financial pressures. Additionally it opens up potential employment opportunities for online based financial jobs, such as Xero Waterloo, an online bookkeeping firm.  Financial education, therefore, increases the client’s skill of decision making and further prepares them to cope with their daily lives.

Financial education also helps the clients to choose keenly among the various micro-finance industries being set up. Through this knowledge of the different services available, chances of experiencing business risks are low.

Furthermore, financial education encourages the young people in these developing countries to develop the habit of saving. Through this, they can set up their own businesses and not just rely on the white collar jobs.

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