I think you can also become finance experts as long you want to learn. Some people may prefer to study at finance degree or take finance short course, workshop  Unfortunately, you must pay it expensive.

If you have no money you can still learn about finance:

1. Reading

There are lot information about finance at book. You can read some finance famous book that are writen by Suze Orman, David Bach, Benjamin Graham, and others. The book contain some useful information and tips.

You can also learn at internet. There are lot finance blog and website. You can also interractive with the author. Ask something that you do not. Perhaps you do not undestand with the article.

There are some thesis and dissertation in in univeristy. You can read it to add your finance expertness.

2. Build a finace blog

Blog is not only a vehicle to make money but also a social media. Post few finance article to the blog. You will get repsonse from other people who has same mind like you.

Visit other blog and read their article. You can comment to the blog post. 

3. Ask to the expert

You can meet the expert. Most expert have blog or website. You can ask anything about finance to the expert. You can meet the expert at the facebook or facebook fan. Learn from those site.

It is better if you can meet the expert directly. However, it is not easy to meet the expert because they must be very busy. They may have appointment to the client. If you have friend, neighbor, and coleague who also finance expert, you can ask them. They may kind to teach you about finance.

4. Take the certificate

You can take the finance expert certificate. There are some certificate such as Certified Financial Planner, Certified Financial and others. Find the information from the organization that publish the certificate.

Before taking the certificate, you have to learn the finance lesson. You can read the previous year test.

5. Work for finance company

Apply the jobs at the finance company. You can get some knowledge at the finance company. The manager may guide your duty. You can practice the finance knowledge that you have read at book and blog.

Proper tax planning is the basic duty of every person, which should be carried out religiously. Basically, there are three steps in the tax planning exercise. You need not consult an Income Tax Practitioner or a Chartered Accountant for this. In fact, you can do it yourself.

 These three steps are:

1) Calculate your taxable income for the Financial Year (from April 1 to March 31) from all sources such as salary, pension, interest etc.

2) Calculate tax payable on Annual Taxable Income using a simple tax rate table, given on the next page.

3) After you have calculated the amount of your tax liability, you have two options to choose from:

a) Pay your tax (no tax planning is required)

b) Minimize your tax through Prudent Tax Planning

Most people should and do choose the latter option. For this, you have to compare the advantages of the various tax saving schemes and depending on your age, life stage, tax slab and personal preferences, decide on the right allocation of investments and plans which shall reduce your tax liability to zero or Minimum possible. You may consult your Financial Planner for this.

The following rates are applicable for calculating tax liability for the FY ending on March 31, 2013. 

For a resident male individuals below 60 years of age (born after April 1, 1952) and HUFs

Consult the govt website for current details

Tax Free Incomes

The following incomes are completely exempt from income tax without any upper limit.

1) Interest on PPF/GPF/EPF.

2) Interest on GOI tax free bonds.

3) Dividends on Shares and Mutual Funds.

4) Any capital receipt from life insurance policies ie sums received either on death of the insured or on maturity of life insurance plans. However, in case of life insurance policies issued after March 31, 2004, exemption on maturity payment u/s 10(10D) is available only if the premium paid in any year does not exceed 20 % of the sum assured.

5) Interest on savings bank account in a post office.

6) Long term capital gain on sale of shares and equity mutual funds if the security transaction is paid/imposed on such transactions.

Dividend income

Dividend income from companies/ equity -oriented Mutual Funds is completely exempt in the hands of investors. Dividend is also tax-free in the hands of investors in case of debt- oriented Mutual Fund schemes.

Gift tax

Gift tax was abolished with effect from October 1, 1998. The gifts are no longer taxable in the hands of donor or donee. However, with effect from September 1, 2004, any gift received by an individual or HUF will be included in taxable income, provided the amount of gift exceeds Rs 50,000.

Financially these, can be the hardest years, because not only does the course cost a lot of money, but the amount of things that your child is going to need to be able to live on their own is even higher. While a lot of parents do have the funds to be able to do this, this certainly isn’t the case for all, and you should never feel as though you have to pay for them. By the time they go to do their degree, they are adults, and this means that they should be paying for themselves by this point. You should encourage them to get a job while they’re at University, and you could even help them to look in the local papers and on the internet to see where students are being given jobs. 

With regards to getting ready to move, they probably won’t have any idea about what to you. You should help them to make a list a few months before they go of everything that they think they’re going to need, and this means that there is plenty of time to buy things and add things to the list if there is anything that you find you forgot about. Going to buy their things for their new home is exciting for them, as it is the first chance that they will ever have had to be able to decorate a place exactly the way that they like it. Provide them with support, but don’t try to force them into buying things that they don’t like, because this really does have to be their decision.

While they’re there, try to keep in regular contact. By this, I mean perhaps a couple of text messages per day and a phone call each week to see how they are. Although you probably won’t be able to give them much advice about their work, you could talk to them about it so that you at least know about what they’re getting up to. Make sure that you ask about their social life as well, but don’t feel bad if they don’t want to give you too many details! 

Two types of bankruptcy

There are two alternatives under the Bankruptcy code. First is the liquidation or straight bankruptcy under Chapter 7 of the Code. In spite of its benefits, it will be included on your credit report within a decade. Second is the repayment plan for individuals under Chapter 13 of the Code. It is the desirable alternative for people who want to keep their assets. But, it also requires the applicant to repay the large amount of debt. However, it will only remain in record 3 years shorter than liquidation bankruptcy under Chapter 7.

Counseling requisite

Before you can file for bankruptcy, it is imperative to seek the so-called, “consumer credit counseling”. You must choose an institution recognized by U.S. Trustee. Counseling must be done 180 days before you file the bankruptcy case so that you will learn about various options related to bankruptcy proceedings.

Automatic stay

Upon the filing of your bankruptcy case, your creditor can no longer contact you regarding your debts due to the effectivity of the “automatic stay” clause. If the creditor will go against this clause, they may be liable for damages, attorney’s fee and other analogous penalties. Therefore, it is important that your creditors are referred to your lawyer.

341 Meeting

Section 341 of the Bankruptcy code requires the meeting of all creditors affected by your bankruptcy case. It is vital that you list all your debts and discuss it with your lawyer before you attend the 341 meeting. Your lawyer can also orient you with the possible questions during the meeting.

Discharge Notice

Your creditors should challenge your petition to discharge the debts you owed them within 60 days after the 341 meeting. Otherwise, the debt/s you petitioned under chapter 7 shall be discharged. If you filed the bankruptcy case under chapter 13, you shall receive a notification of discharge in less than 60 days. Provided, you abide with the following requirements: 1) you have made the final payment and 2) your trustee guaranteed that you have accomplished and followed the approved payment plan. As a result of the discharge notice under chapter 7 and 13, you will no longer be required by your creditors to pay the debts you owed them.

It is important to seek the help of a Bankruptcy lawyer because your debts will be discharged depending upon the provisions of the Bankruptcy Code, the merits of your case and the creditors’ evidence that will warrant the dismissal of your petition.

Two types of bankruptcy

There are two alternatives under the Bankruptcy code. First is the liquidation or straight bankruptcy under Chapter 7 of the Code. In spite of its benefits, it will be included on your credit report within a decade. Second is the repayment plan for individuals under Chapter 13 of the Code. It is the desirable alternative for people who want to keep their assets. But, it also requires the applicant to repay the large amount of debt. However, it will only remain in record 3 years shorter than liquidation bankruptcy under Chapter 7.

Counseling requisite

Before you can file for bankruptcy, it is imperative to seek the so-called, “consumer credit counseling”. You must choose an institution recognized by U.S. Trustee. Counseling must be done 180 days before you file the bankruptcy case so that you will learn about various options related to bankruptcy proceedings.

Automatic stay

Upon the filing of your bankruptcy case, your creditor can no longer contact you regarding your debts due to the effectivity of the “automatic stay” clause. If the creditor will go against this clause, they may be liable for damages, attorney’s fee and other analogous penalties. Therefore, it is important that your creditors are referred to your lawyer.

341 Meeting

Section 341 of the Bankruptcy code requires the meeting of all creditors affected by your bankruptcy case. It is vital that you list all your debts and discuss it with your lawyer before you attend the 341 meeting. Your lawyer can also orient you with the possible questions during the meeting.

Discharge Notice

Your creditors should challenge your petition to discharge the debts you owed them within 60 days after the 341 meeting. Otherwise, the debt/s you petitioned under chapter 7 shall be discharged. If you filed the bankruptcy case under chapter 13, you shall receive a notification of discharge in less than 60 days. Provided, you abide with the following requirements: 1) you have made the final payment and 2) your trustee guaranteed that you have accomplished and followed the approved payment plan. As a result of the discharge notice under chapter 7 and 13, you will no longer be required by your creditors to pay the debts you owed them.

It is important to seek the help of a Bankruptcy lawyer because your debts will be discharged depending upon the provisions of the Bankruptcy Code, the merits of your case and the creditors’ evidence that will warrant the dismissal of your petition.

Part of Title 11 of the United States Code (the Bankruptcy Code) on a shelf at a law library in San Francisco. Photographed by user Coolcaesar on March 14, 2009. (Photo credit: Wikipedia)

I have reviewed two other books of Dave Cornford, and I enjoyed them immensely. This book is no different, the first part in a new series he is developing, Cornford uses his financial knowledge to weave relevant, moving tales of people from all walks of life and wallet size and tells their stories; how the financial meltdown and recession affected them, their lives, their beliefs and their families. I have read the three stories contained in this edition before, and after reading them again, I find I like them even more. I enjoy a read that is different and thought provoking, and this book fits the bill. Curl up and have a read, I dare you not to turn your thermostat down or run around the house switching off sockets after reading, to save those all important pennies. 

Rachel Dove, Kindle Book Review 

Film and Animation finance in Canada. What producer/project owner wouldn’t agree that it’s a ‘ mad world ‘ when it comes to financing a project. That’s exact where Canadian film tax credits enter from stage left – they play a key component in our overall financing strategy. Let’s examine that a bit.

It’s rarely a perfect world, but when on exists in film financing it’s a case of equity investors making a reasonable (or great?!) return on their original investment, and those mezzanine and gap type folks also achieving a solid return on principal and interest.

Does that always happen? Of course it doesnt. Sometimes things go awry or a final component to the film financing success puzzle is required. Quite often  that  final component consists of  Canadian film tax credits, as well as those same credits that apply to the digital animation world – the newest and probably fastest rising kid on the block .

So how can the film tax credit and the financing of same become the OSCAR of film finance? We’re still waiting for the day when the film industry acknowledges an award for most creative use of a film tax credit – we do know though there are a lot of nominees out there.

When it comes to film and animation (and television) finance in Canada the tax credit is known as a ‘ soft dollar ‘component of your financing package. Canada current has one of the most robust and easily accessible film/animation tax credits environments in the world, and is widely recognized for that.

Simply speaking anywhere from 30-50% of your overall budget can in fact be recovered by the tax credit. And the financing of those tax credits can play a starring role in your project. Why? Because they can cash flow the actual project itself, they can play a key role in the return on equity in your project, and finally, those dollars could in fact be used to help bankroll your next project. Talk about a triple whammy.

So how in fact to tax credits accomplish those key goals for the producer.? It’s not as complicated as you think, they are not refundable government monies that come from the government jurisdictions that you chose to film, produce, and post produce in.   When your  tax credit certificate is accepted based on your budget and spend criteria  that credit becomes cash for your project – and it can be monetized as you spend or at the end of the project.

So you can choose to simply wait to get your cheque from the government (it’s a combined federal and provincial amount) after your ‘ spend ‘ is verified and audited.

In the U.S. and elsewhere it’s a battlefield out there when it comes to ongoing availability of tax credit film incentives.  However, in Canada there’s a sense of  ‘ business as usual ‘ normalcy when it comes to film tax credits for movies, TV, and animation projects .

Want to examine  next steps ?Its all about discussing your overall financing plan and budget  with a Canadian film tax financing expert in conjunction with your tax credit budget which is usually prepared by a qualified film tax credit accountant , thereby maximizing your return in any one of the Canadian provinces .

So yes, its a ‘ mad world ‘ when it comes to film finance – use your Canadian film tax credits to assist you in your overall plan of equity, debt, print  and advertising, and gap financing . You just might find the Oscar goes to film tax credits for best supporting role. Speak to a trusted, credible and experienced Canadian business financing advisor when it comes to film finance.

As the economy appears to have narrowly avoided falling back into recession despite a shock drop in manufacturing output in the first months of 2012, the Bank of England held back from giving the fragile recovery an extra boost. In February, a surprise 1 percent dive in manufacturing output showed that the economy was still on shaky platform after a series of more upbeat business surveys had indicated that a modest recovery was on track. However, the unpredictable market and government measures will determine whether Britain will lapse back into recession or will be able to avoid it in future. <br/><br/>

Two consecutive quarters of falling GDP would be a blow for Chancellor George Osborne who defended his tough austerity plan which aimed at erasing a huge deficit in last month’s budget. In addition, he Bank’s Monetary Policy Committee (MPC) left the total of its asset purchases at 325 billion pounds and kept interest rates at their record low of 0.5 percent, a move that had been unanimously expected by analysts. Since the end of 2011, when many were extremely concerned about an economic meltdown in the euro zone, the short-term outlook has improved. For UK, it seems like a recession may be avoided this year.

Economists suggested that this year, there is no need for bank to expand its quantitative easing programme, and the recent output figures did little to change that view. The Bank along with the government forecasts that lower inflation will bring relief to some extent to consumers and allow more consumption. <br/><br/>

However, a recent hike in oil prices and rising food costs due to lack of rain in parts of England raised fears that inflation which was 3.4 percent in February, will not fall towards the Bank’s 2 percent expectation as fast as policymakers expect. So, economists suggest Britain should return to growth in the first three months of 2012 as the wider measure of industrial output grew in February, thanks to increased energy production. The dominant services sector has also supporting it by been improving. Need funds apply with <a href=”http://www.loansnoguarantor.co.uk/”>loans with no guarantor</a> and get cash with simple terms and conditions. <br/><br/>

According to a data, there is an encouraging sign that some consumers are confident enough to spend more. New car registrations rose by 1.8 percent in March and the domestic demand for new cars is showing signs of recovery. However, the government predicts growth of just 0.8 percent this year which is only a fraction more than in 2011.

Secy. Daniels and Gov. Glynn, 1914 (LOC) (Photo credit: The Library of Congress)

Ladies and gentlemen,

Who wants money? 

Who wants wealth? 

Yes, that is exactly what I want to share with you today. I feel very privilege to stand before you to talk further on the ABC of Wealth Creation because this is my passion. Let us do this together, A stands for Accumulation, B for Better Monitoring and Managing Wealth and C for Creation. These three processes of wealth creation are Simple yet Powerful. I repeat, these steps are Simple and Powerful - They can move mountains.

To illustrate my points further, please allow me to use the following examples on this Powerful Secret Bullets:-

To begin with, aassuming Daniel has a monthly sole income of 5k. He spends all his income to acquire the lifestyle he wants, leaving ZERO balance in his bank accounts at the end of each month. He will stay status quo forever, Right? As we are all know that the sun does not shine every day. What will happen to Daniel on a raining day? Do you think he is going to survive the same lifestyle if he lost his only source of income? Definitely no, right?

Let me give you another Scenario. Assuming that everything is the same except that this time Daniel leads a simpler lifestyle. He spares 2k per month for his savings. For simplicity, we further assume that he places all of his savings in the Fixed Deposit with Financial Institution earning an interest of 3% per annum. At the end of the month, his saving will grows with the interest earned. Are you following me so far?

Be mindful that we are living in high inflationary regime, who does not agree? What do you think would be the realistic inflation figure in our country? Let say 5% per annum, is it fine with you guys? With the interest rate of 3% Daniel earned from the Fixed Deposit, the inflation will eat into Daniel’s saving. This is because the interest is not sufficient to cover the inflation. Do you follow? As a result, Daniel’s wealth is losing out 2% per annum in the real sense. In short, Daniel may think he is a saver. In fact, he is a sucker and a loser. You must realize this vicious point.

No doubts his Wealth/ Net worth is still growing in number over times. But his REAL return will be in the negative of 2%. Every RM 100 he saved after a year will become RM 98 in real term. In other word, he is poorer by RM 2 because he is only able to buy RM 98 worth of goods compared to RM 100 worth a year ago.

Do you think it is wise for him to do so? But don’t get me wrong that I am anti saving in the form of Fixed Deposit. You may do so for emergency purpose or for a short term tenure. Here, I just want you to realize that you are not doing yourself a deserving favour because you have not benefitted anything.

That was the 2nd scenario. Lastly, let me take you through the third scenario. Assuming everything is the same as Scenario II. But this time instead of saving in the form of FD, Daniel decided to invest his monthly saving of 2k which earns him an average return of  9% per annum. Daniel may be a bumiputra like Hj Hashim who could invest in ASB which yield between 9% to 12% interest!!

Even with the inflation rate of 5%, Daniel’s wealth still grows by 4% per annum in the real sense. By doing so, he is growing his wealth both in absolute amount and intrinsic value. Am I being understood here? In short, Daniel managed to grow his wealth by positive 4% after netting off the inflation of 5%

By now, who does not agree with me that we need to take positive action to hedge our money against inflation no matter what? No doubt, investment does not guarantee that you will enhance your wealth. Nothing in this world is ever certain except taxes and death. Another thing which is also certain: if you don’t do anything, you will sure get nothing. 

In summary, we need to acquire the skills, aptitude and know how on how to invest our money wisely.We must generate the return that far exceeds or at least is sufficient to cover the inflation rate.

Stay tune and I will share with you more of wealth management in my next few speeches.  

Thank you.