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Friday, January 5, 2024

My Money, My Choices

My Money, My Choices is a community-based program, so those participating in the program will help family, friends, and coworkers get smarter about money
If you don’t have a plan that includes money set aside for the future, how do you deal with the crap that life throws at you?At any point the ground beneath your feet can begin to shake.It doesn't matter how much you know, if you aren't using what you know, you aren't financially literate.Well take a look at yourself in a fresh light.If you can't save because you're living on a very low income, you're right, you don't have any money to save.There are about 7,496 ways you can spend money rather than saving.


Here’s how each My Money, My Choices community will be set up.
You can define your community however you like but I define a community as any group with similar interests.
Once you've gathered your community together, have each person enrol at mymoneymychoices.com.  .....
My Money, My Choices is about having perspective, setting priorities and making choices that take you closer to achieving what you want in your life.

tags:My money,My Choices,

Sunday, November 5, 2023

Business plan restaurant

Business plan restaurant:You can easily use this sample as inspiration and create your own plan, complete with financial tables and graphs. You’ll also be able to:

Save time with linked financial tables (the formulas are built in, 
        so you don’t have to do the calculations!)
Benefit from tons of help, advice, and resources.
Present your plan with confidence, with automatic charts and
        graphs corresponding to your financial data.
Work on your plan anywhere, on any computer.

Every restaurant can benefit from a high-quality business plan. Use our professional business plan templates to improve your restaurant's business plan.
These, and hundreds more sample business plans, are included in LivePlan. For only $19.95/month, it's the fastest way to create a business plan for your business. Learn more about business planning software.

tags:business plan restaurant,

Saturday, October 28, 2023

How to calculate finance charges ?


The first thing to understand is that there are two basic parts to a loan. The first issue is called the principal. This is the amount of money that is borrowed.

 The lender wants to make a profit for his services (lending you the money) and this is called interest. There are many types of interest from simple to variable.

 This article will examine simple interest calculations.

In simple interest deals, the amount of the interest (expressed as a percentage) does not change over the life of the loan. This is often called flat rate or fixed interest.

The simple interest formula is as follows:

Interest = Principal × Rate × Time

Interest is the total amount of interest paid.

Principal is the amount lent or borrowed.

Rate is the percentage of the principal charged as interest each year.

To do your math, the rate must be expressed as a decimal, so percentages must be divided by 100. For example, if the rate is 18%, then use 18/100 or 0.18 in the formula.

Time is the time in years of the loan.

The simple interest formula is often abbreviated:

I = P R T

Simple interest math problems can be used for borrowing or for lending. The same formulas are used in both cases.

When money is borrowed, the total amount to be paid back equals the principal borrowed plus the interest charge:

Total repayments = principal + interest

Usually the money is paid back in regular installments, either monthly or weekly. To calculate the regular payment amount, you divide the total amount to be repaid by the number of months (or weeks) of the loan.

To convert the loan period, 'T', from years to months, you multiply it by 12. To convert 'T' to weeks, you multiply by 52, since there are 52 weeks in a year.

Here is an example problem to illustrate how this works.

Example:

A single mother purchases a used car by obtaining a simple interest loan. The car costs $1500, and the interest rate that she is being charged on the loan is 12%. 


The car loan is to be paid back in weekly installments over a period of 2 years. 

Here is how you answer these questions:

1. What is the amount of interest paid over the 2 years?

2. What is the total amount to be paid back?

3. What is the weekly payment amount?

You were given: principal: 'P' = $1500, interest rate: 'R' = 12% = 0.12, repayment time: 'T' = 2 years.

Step 1: Find the amount of interest paid.

Interest: 'I' = PRT

= 1500 × 0.12 × 2

= $360

Step 2: Find the total amount to be paid back.

Total repayments = principal + interest

= $1500 + $360

= $1860

Step 3: Calculate the weekly payment amount.

Weekly payment amount = total repayments divided by loan period, T, in weeks. In this case, $1860 divided by 104 weeks equals $17.88 per week.

Calculating simple finance charges is easy once you have done some practice with the formulas.


MORE>>>>

How to calculate finance charges ?,alculating simple finance charges is easy,Simple interest math problems can be used

Germany is considering a new gas procurement package

 Germany is considering a new gas procurement package....

Germany Is Considering Investing in Another Major Russian Gas Importer

The German government is prepared to take a stake in a second domestic natural gas supplier in order to contain an escalating energy crisis, which has already prompted discussions about the potential nationalization of energy behemoth Uniper SE.


Capital injection could be part of a rescue package for EnBW's VNG.

According to people familiar with the situation, a rescue package for VNG AG, the troubled gas importing subsidiary of German utility EnBW AG, could include a capital injection that would give the government a minority stake in the company.

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All about benchmark lending


Benchmark is a term by which we mean a set of standards used for evaluating the level of quality or performance. It cab be drawn from companies own experience or from the other companies experience. While by benchmark lending we refer to the interest rate that banks have to pay when they borrow money. Now you will be thinking that does a bank also borrow money from other in the form of loan? The answer would definitely be yes, banks also borrow money. 
The bank has to keep some amount of money as a reserve.

But sometimes it happens that they don’t borrow money over a short period of time, say one night, and then they don’t have reserves left, for this they have to borrow money on a certain interest rate. Due to this reason, banks and mortgage companies tries to find people who are in need of a loan and then provide them loan, so banks can earn money from that loan given to customer by taking interest.
It can be valuable business to the bankers and mortgage companies who are providing loan, when there are lots of customers in the market.The bank is when borrowing money, it also has to pay some interest, that interest rate is called benchmark rate.

It is the lowest interest rate which the investor accepts for a non treasury investment. It is also known as base interest rate.
But the interest rate fluctuates, when there are a wide variety of pressures from surrounding. This rate is usually set by the Federal Reserve in the United States.

 But most people use the interest rate which is set by the Central banks.
The benchmark rates are usually used by banks and other lenders, so could determine the interest rates for their financial products, like credit cards, car loan, and home loans. The bank also uses the benchmark rate to determine the prime rate. Prime rate is the lowest interest rate which the banks offer to their customers.
This prime rate is popular in Canada for benchmark lending. It is made to help people to recover from predatory lending.....


tags:the bank,benchmark lending,rate,