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I read a press release the other day which points to the fact we need to be very careful with our finances. The subject of the release was home mortgages. A company was announcing the availability of 40 year mortgages for its customers. The stated purpose was to lower the monthly payments to make buying a home more affordable.

Whenever I hear the phrase "more affordable" cheap nike air max 2017 , I put my hand on my wallet because the attempt to empty it will begin any moment. Almostnever is that phrase used in relation to the total cost of financing. It isalways used in reference to the size of the monthly payment, as in this example.

Let's see what it really means. I did the math. A mortgage for a $100,000 home at 6% for 30 years would have a monthly payment of about $600 for principal and interest. You would pay about $216,000 over the life of the loan of which $116 nike air max 2017 australia ,000 would be interest..

A mortgage on that same home for 40 years would be at 6.25%, with a monthly payment of $565. The payments over the life of the loan would total about $271,200 and $171,200 of the total would be interest.

The forty year mortgage has a higher interest rate (usually between.25 and .50 percent) because the lender has his money at risk for a longer time (Lenders are well aware that time is money. You should be as aware).

This higher rate coupled with the extra ten years of the loan nike air max 90 ultra 2.0 flyknit infrared , has the borrower paying 47% more interest, or $55,000 more over the life of the loan. Even with a lower payment that supposedly makes it more affordable to purchase that home. Sounds like a pretty good deal for the lender.

Another problem the borrower faces is building equity much more slowly in the beginning of the loan. The extra interest expense paid for the extended length of the loan prevents equity from building up quickly. All of this for a monthly payment that is only $35 less.

You need to think in terms of overall cost and not just monthly payments. The total cost is what you will give back to your creditors. The focus on the monthly payment takes attention away from the total amount to be repaid. You need to look at this with any indebtedness, car payments nike air max 90 ultra se australia , personal loans, credit cards: figure the total cost, not just what you pay each month.

You'll begin to hear more about these loans I'm sure. Think long and hard before you lengthen your indebtedness. The goal is to become debt free and to do it as fast as possible. Advise your families and friends to do the same.

David Wilding works with indiviuals and groups to help them get rid of debt. For the past ten years he has attempted to change attitudes toward and acceptance of personal debt. Visit his website for more ideas, tools nike air max 90 ultra breathe australia , and strategies to become debt free. What will it cost to buy a franchise?

Depending on which franchise you are interested in, your initial franchise fee could be as little as $1,000 or as much as $100,000. On top of the initial franchise fee nike air max 90 flyknit australia , there are other significant startup fees. So, the total cost of buying and launching a franchise location could run from under $10 thousand, to as much as a million dollars.

What's involved in running a franchise?

Even if you will be able to hire other people, you yourself will need to know how to operate all phases of the business since you may need to train employees or fill in for them when they are absent or if they leave. You will also need to be a good manager and salesperson and keep good records.

Can I avoid market research by buying a franchise?

No. While the franchise company may help with site selection and other details nike air max 90 essential australia , there is no substitute for doing your own research. Be sure you engage a franchise attorney to guide you through the process once you are prepared to franchise from a particular franchisor. Remember, a franchise isn't something you can walk away from easily if it doesn't work out. Therefore before you sign the franchise agreement, make sure you determine how many sales you will have to make to be profitable and whether your territory has the population and the demand to make it likely you can reach that sales figure even if a competitor opens.

Can I sell the franchise?

Some franchises allow you to sell if you can find a buyer, and some don't. The UFOC will tell you what the franchise's regulations are regarding sale or transfer of your contract to anyone else.

Are there any inexpensive home franchises?

Some franchises can be run from home and nike air max 90 vt australia , therefore, may have lower start-up costs since you won't be required to build or rent space. But, most of the low-cost home "business opportunities" are not franchises. They are either multilevel marketing or direct selling opportunities, or package deals that promise to give you everything you need to start a business.

What is the franchise agreement?

The franchise agreement is a contract and document between you nike air max 90 floral print australia , the franchisee, and the franchisor. In this agreement you will find all the details of what the franchisor expects of you and what you should expect on the franchisor. This is one of the most important documents you will ever have to sign and follow. Failure to keep to the rules can mean your license to operate is open for termination. However it also means that if the franchisor has not kept their end of the agreement that you have a fall back should anything go wrong between you, the franchisee and them, the franchisor. Having a solicitor or lawyer look over the agreement to ensure it is fair is a must if you do not understand contract law.There are many advantages to having car insurance. In the case that you get into an auto accident nike air max 90 leather australia , it could cover a majority of the bills. People who have auto insurance pay a monthly fee to get a certain amount of coverage. In the event of an accident, the insurance company pays for the repairs or depending on the policy, pays . Cheap Jerseys Wholesale Cheap Jerseys China Cheap Jerseys China Cheap Jerseys Free Shipping Cheap Jerseys China Cheap Jerseys China Cheap NHL Jerseys From China Cheap NFL Jerseys Wholesale Cheap Replica MLB Jerseys Cheap College Football Jerseys Cheap