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If you find yourself asking where to begin with learning proper finance, start with the definition of personal finance, budgeting. Why the definition of personal finance is budgeting we will outline in the following article, because truly there is no more important lesson as to what proper financial management entails, and what will most directly contribute to your success with your money.

Proper Budgeting is Personal Finance Mastery

There is no need to look beyond budgeting when beginning your journey towards personal finance mastery. Budgeting can be a scary prospect when you have not done so for a long time, the money tale told by your expenses and income can paint a poor picture. But whether you are a millionaire with investments, countless loans, mortgages and stock holdings, or an honest hardworking fellow just beginning your financial journey, budgeting is the key to continued success with your money.

Proper personal finance budgeting allows you to account for what monies you have coming in and what monies you have flowing out of your accounts. Mastery of your finances, no matter your level of income is a matter of using this information to make decisions that increase the money you have coming in each month, and decrease the flow of cash you have leaving your possession. If you choose to achieve this through additional investments, decreasing interest rates with consolidation loans or a job promotion the basics of personal finance budgeting remains the same.

Proper managing of one’s debt, income and expenses is the soul of managing your money and that is why the definition of personal finance is budgeting. There is no need to get more complicated than this, with your credit cards, payday loans, investments and stock options, you will find yourself on a sound financial footing if you keep a detailed budget, follow your money, and ensure that you spend less than you earn each and every month.

To properly budget your personal finances you simply add up your sources of income, account for every penny that you have flowing to you each month, and track every expense. I am not concerned with the exact system you employ as long as you are detailed and know how your money is flowing. Track your loans, and if you have bad credit lenders, know how much you are spending in interest. Track your credit cards and what amount of your payments applies to principle and what cash goes towards interest. Make knowing your finances your business and when you have an accurate picture of the flow of your money, then work to improve your finances.

Most mistakes of personal finance are made because honest, hardworking people have an unclear, or foggy idea of how their money is spent from month to month. With a little attention to the details of your cash flow you will find that there are countless ways to save additional money, and increase your income. Keep a focus on the basics of personal finance and never forget that the definition of personal finance is budgeting. You too can start making a profit today.

Clients who are contemplating purchasing a new or existing franchise in Canada are always asking how financing a franchise works in Canada. The Canadian franchise industry is of course huge and covers almost every type of business in Canada. Certainly the majority of franchises seem to be in the Hospitality and QSR (Quick Service Restaurant) industry, but in actuality every type of business has some sort of franchise model attached to it. The franchise concept is many an entrepreneurs’ answer to the Canadian dream of growth and profits through business ownership and self employment.

It should not come as a surprise to Canadian entrepreneurs that there is no one single option of solution for financing a franchise in Canada. The reality is that a number of possibilities exist, and in some cases you must use a combination of these sources to complete the financing successfully.

The main source of financing in Canada for franchising is a government ‘subsidized’ and ‘guaranteed ‘loan from the Federal government. The program has two names, the CSBFL, and the BIL. These are acronyms for the government’s formal name for the program.

We firmly believe that this is the best program, bar none, for rates, terms, and loan structures in Canada. While the program is available and applicable to all Canadian businesses the majority of businesses in Canada that are franchised fall under this program.

That’s the good news, the less than good news is that in many cases you cannot totally complete your business franchise purchase with this loan financing on it own. Why is that? Simply because the program is structured and has limitations on what can be financed.

What can be financed under this program? The answer is 3 items only-

Equipment
Leaseholds
Real Estate

So if your acquisition of a new franchise involves anything other than these three items additional financing sources are needed. Those additional financing sources tend to come from your own personal resources, other structured term loans, and in some cases a vendor take back from either the franchisee you are buying the existing business from, or potentially the franchisor itself. Don’t focus too much on the latter because in case you haven’t guessed by now, franchisors or master franchisors are interested in selling you a franchise so they can build another franchise unit into their network! They aren’t in the finance business per se.

The benefits of the franchise loan structure of the BIL/CSBFL program are significant. For a starter they carry only a 25% personal liability, and secondly the rates (3% over prime) (In 2010 Canadian primes continues to be very low!) are excellent. Under the spirit of the program the loan finances 90% of your eligible expenses. But don’t think that only a 10% equity or personal investment by yourself is going to get you approved. You should in general be thinking of anywhere between 25%+ as your own personal contribution to the business.

In summary, financing a franchise in Canada is a unique specialty type of financing. You don’t want to do it wrong the first time and endanger your prospects of success by poor planning and mis information. Speak to a trusted business financing advisor who has credibility, experience and background in this area of Canadian business financing. With proper planning and assistance you will be on our way to achieve the Canadian dream of business ownership through the franchise model.

Car finance brokers are the one through which you can obtain your car financing regardless of your position to finance. These brokers offer various solutions for the new and old used cars; hence they provide every other option available to you. The notable thing is each and every broker has a different set of terms and conditions and finding the best finance company, which can pave a way for you from the maze of interest rates is quite complex. Hence, comparing car finance brokers is not an easy job and selecting the one which can sort out the wheat from the chaff is extremely crucial.

You can perfectly utilize the services of a car finance broker in order to receive cheap car loan rates in the market. For this, you need to research for the brokers so that you can get the one which can offer you solutions through poor credit car financing solutions.

When you go for comparing car finance brokers, there are many things, which need to be taken care off while choosing the car financing company. They usually avail the services offered by various lenders. Lenders have their own set of criteria with unique terms and conditions and hence, each loan has a unique set of criteria for financing. When you would like to select it, you need to consider other variables too along with the interest rates that they offer as this will decide your final cost of the loan when you apply for it.

Car Finance broker considers many variables when it comes to your loan such as nominal interest rate, portability of the loan, variations based on the terms of loan, loan approval or other establishment fees, frequency of payments, flexibility in repayment options, any other ongoing fees like account accreditation, existence of redraw options and direct debit options.

A reputable finance broker must clearly explain you the pros and cons of the car finance loan. They should realize that they are in a serious business, and this business should save consumers money not to deceive them for their hard earned money. The brokers must provide such options, which can be flexible enough to suit your ever changing financial condition.

Many a times the financial lenders try to veil their hidden charges behind the low-interest rates, which can be difficult to understand as well as sometimes they can charge high-management fees too. Hence, to avoid such things, you need to understand all the variables and criteria before signing the agreement with the car finance brokers. Hence, select only those which can ease out the difficulty in understanding loan conditions as well as, which can provide you easily managed and flexible loan at a low-interest rate.

There are few other things also which you need to consider along with all these above mentioned terms and conditions. When you select a car finance broker, you must check the lender accreditations because brokers usually access their services, and their accreditations can explain you about the various options available to you along with the quality. Some time, a highly selective lender can provide most lucrative finance products.