The New Target: Auto Finance

By Nigel Aplin | Oct 27, 2014

After several years of being the focus of consumers over-extending themselves, the Canadian mortgage industry can rest a little easier as rating agencies and policy makers may now have a new target: auto finance. Both the Bank of Canada in its recent commentary and Moody’s Investor Services, in a report last week on Canadian banks, singled out auto loans as a possible area of vulnerability.

Auto loans at Canadian banks have been growing at an annual compound rate of 20% or more over the past seven years. Prior to 2007, auto leasing was a very popular vehicle acquisition option for consumers which offered low monthly payments but left auto makers with large inventories of used vehicles coming off leases which averaged between two and four years in duration. Pricing for leases increased significantly and many consumers began opting to purchase their vehicles and finance those purchases with loans which extended beyond the traditional car loan term lengths of three to five years. Auto finance loans which now extend over 72, 84, 96 or even 108 months offer consumers low monthly payments but create risk for lenders.

The Bank of Canada commented last week that “auto sales have reached record highs” as it suggested that the risks associated with household imbalances are edging higher. The Moody’s report looked at the potential exposure of banks which have loaded up their balance sheets with auto loans which have grown from $16.2 billion in 2007 to about $64 billion today. An economic shock like a sharp rise in the unemployment rate could trigger defaults on these loans and the risk to lenders comes from the rapid depreciation of new vehicles, particularly in the period shortly after purchase. Loan balances could exceed vehicle values during these periods and long amortizations of up to eight or nine years mean that loan balances are slow to reduce. Unlike real estate, the value of autos never increases over time.

Canadian consumers who can finance their car loans over long terms and enjoy relatively low monthly payments have also shown a preference for more expensive new vehicles and this only adds to the household imbalances to which the Bank of Canada refers. Canadian banks admit that auto finance is a rapid growth area for their balance sheets but they insist that they are maintaining prudent underwriting standards and that they stress test their portfolios regularly.

7 Ways to Prepare Today for the Next Recession

Is another recession imminent? Prepare your business today, so it will survive, and even thrive, should a recession hit.

July 07, 2014 The Great Recession seems like only yesterday. Yet it was five years ago that trillions of dollars of consumer wealth and millions of jobs were lost. Both sales and cash flow for small-business owners seemed to dry up overnight. It was the worst economic crash since the 1930s. Could it happen again?

The Bureau of Economic Analysis recently released its final estimate of GDP for the first quarter of 2014. It shows a decline of the U.S. economy at an annual rate of 2.9 percent. That’s down from the fourth quarter of 2013, when GDP grew at 2.6 percent. This makes the first quarter of 2014 the worst quarter since the first quarter of 2009 during the Great Recession.

While economists blame the results on the severe weather, could we be headed for another recession? By definition, a recession is two negative GDP growth quarters in a row, and historically, they have come at least once every decade.

Whether the next recession is around the corner or years away, we remember the damage the last one did. How can you prepare and protect your business should another recession hit?

1. Focus on profitability, not growth. Companies need to invest in order to grow their business, but they should only grow profitably. Sacrificing profitability for growth may get a company in trouble with large losses, especially if expected sales lag behind the forecast. Don’t let invested expenses get too far ahead of sales.

2. Stockpile cash. The single reason that all companies go out of business is because they run out of cash. A sign I always hang in my office as a reminder is “It’s Cash Flow, Stupid.” Forget about the sales line on the profit-and-loss statement and instead examine the cash flow statement. Do you have more or less cash at the end of the month? A simple check of your bank statement will give you the answer. Focus on getting paid from customers, extending payments to vendors, keeping stock levels low and inventory turns as high as possible.

3. Draw on the bank credit line. Banks want to give credit to companies that actually use it. Unless your business has six months' worth of cash in the bank, draw on that credit line. The cost of this insurance will be worth the low interest paid.

4. Challenge all business assumptions. Always ask if the business can be done another way. Cockroaches thrive during bad times because they know how to adapt or die. How can the company increase its gross margin? How can it sell to clients at a lower cost? What parts of the business always make a profit, and how can you leverage it? Which are the really profitable customers?

5. Ask customers to substitute your products for higher priced ones. Is your product now the cheap alternative? In a recession, price can trump all. But why wait until then? Find out from customers if your products can replace something similar that they’re paying a lot more for—often it can.

6. Cut costs now even if revenue hasn’t gone down. No owner has ever regretted cutting costs too soon. When deciding which costs to cut, use the “cringe factor.” Ask yourself which checks make you cringe when you write them at the end of the month. Cringing means that you are not getting value out of these expenses and need to either cut them or find another vendor that offers those services.

7. Remember resiliency. Economic cycles come and go. You have been here before and survived. Cheer the good times with parties, awards and trophies. Mourn the bad times for 24 hours, but then let it go. If you place value on action, you’ll have more chances at success.

It's not a matter of if a recession will hit, it's more of a question of when. Get your business ready today, and you can sleep better knowing you are prepared.

Read the Article

Steps to correct errors on you credit bureau

1. Support your case:
Gather receipts, statements and other documents related to your credit account. You may need these to prove your claim.

2. Contact the credit reporting agencies:
Use their form for correcting errors and updating information. Do this for both Equifax Canada and TansUnion Canada.
Before the agencies can make any changes, they first need to check your claim with the creditor that reported teh information.
If the creditor agrees there is an error, the agencies will update your credit report. However, if the lender confirms the information is correct, the agencies will not make any changes.

3. Contact the creditor:
You may be able to speed up the process by contacting the lender yourself about the error. Ask the lender to verify its file and provide the credit reporting agencies with update information.

4. Escalate your case:
Not satisfied with the results of the investigation? Ask to speak with someone at a higher level at the credit reporting agency or the creditor. If the creditor is a federally regulated financial institution, and it will not correct the error, as for information on its compliant-handling process.

5. Add a consumer statement:
If you are still not satisfied, ask the credit reporting agencies to add a consumer statement. This lets you provide details about an item o your report, using up to 100 words and it's free of charge.
Lenders and others who look at your credit report may consider your consumer statement when they make their decisions.

Don't have the time or energy to deal with it, call us, we'd be happy to help 1-888-693-1439

Building, Improving and Securing Credit through safe, secure and affordable solutions

How to Correct Errors and Check for Fraud

Check your credit report at least once a year for errors and signs of identity theft. Think of it as an annual checkup for your financial health!

You have the right to dispute an information on your credit report that you believe is wrong. You can ask the credit reporting agencies to correct errors. it's FREE

Watch out for:
mistakes in your personal information, such as wrong mailing addresses or incorrect date of birth.

errors in credit card and loan accounts, such as a payment you made on time that is shown late.

negative information about your accounts that is still listed after the maximum number of years it is allowed to stay on your report.

Why do errors matter?
They may give lenders the wrong impression. You could be turned down for an application or receive a lower credit score than you should have. Even errors that seem minor, such as a misspelled name or a wrong address, could cause problems when you apply for credit.

What cannot be changed?
You cannot change factual, accurate information related to a credit account. For example, if you missed payments on a loan or a credit card, paying the debt in full or closing the account will not remove the negative history. Negative information will only be removed after a certain amount of time.

Watch out for "credit repair" companies that claim they can eliminate negative information, for a fee, before the date it would normally be removed from your credit report. This is not possible.

Call us today for a FREE credit report consultation at 1-888-693-1439

Building, Improving and Securing Credit through safe, secure and affordable solutions

HOW TO IMPROVE YOUR CREDIT SCORE!

The actual formulas used to calculate credit scores are the property of private companies and are not available to the public. This means it is not possible to know exactly how many points your score will go up or down based on the actions you take.

However, the main factors that are used to calculate your score include:

Payment history
Use of available credit
Length of inquiries
types of credit

Let's discuss PAYMENT HISTORY:

This is the most important factor for your credit score. It shows:
*When you paid your bills
*Late or missed payments
*Debts you did not pay that were written off or sent to a collection agency
*Whether you have declared bankruptcy

Your score will be damaged if you:
*Make late payments - the longer it takes you to make your payment, the worse the impact on your credit report and score will likely be.
Have accounts that are sent to a collection agency
Declare Bankruptcy
Withhold payment due to a dispute and the lender reports your payments as late.

With Certain financial products, any payment you make on time will not be counted and will NOT improve your credit score. However, if you miss payment and your account is sent to a collection agency, this CAN be included and will damage your credit score. These products include:

Chequing and saving accounts
Prepaid cards

Telecommunications accounts, such as mobile phone and internet, are exceptions. Payment you make on time as well as late payments MAY be considered for your credit score.

If you have any questions feel free to PM me or just post your question below.

Tomorrows topic - Use of available credit

Building, Improving and Securing Credit through safe, secure and affordable solutions

How Do Factoring Companies Price Their Agreements?
 
There is a broad range in the factoring industry when it comes to pricing. The pricing set in the
factoring contract, known widely as the MPSA (Master Purchase and Sale Agreement), is dependent on a few aspects of the small business they are factoring.

Here is a general list of considerations the factor bases their pricing decision on:
Size of the company looking to factor.
Industry the company is in
Financial strength of the company
Special considerations
Purpose and use of funds 

Everyday I will right a short description of each consideration.

Size of the company looking to factor. 
This is perhaps the biggest influence on pricing from the factor’s perspective. Simply put, the smaller the factoring line (amount the company is looking to borrow), the higher the cost of factoring. Why? Factors need to see a worthwhile return on investment. Both the small business owner and the factor need to take on business that is profitable and worth the risk.
We recently spoke with a small business owner with nominal sales history that received their first purchase order for $20,000. The fee to cover the cost of this purchase order was $2,000 which is 10%. Looking at it from an outside perspective, you may think that is expensive. Let’s take a closer look. In this case, the cost of goods was $20,000 and the sale price (wholesale) was $28,000 or a 40% margin. The $8,000 profit would be reduced by $2,000 to cover the cost of financing. The companies first major sale would reduce their profit by $2,000, but it would give them the ability to fill the order and make the sale. Ideally, this will turn in to future business and larger orders. This concept and way of thinking was covered in my previous blog on opportunity cost.
As sales increase, the fee for financing will decrease. You have to take what you can get in the beginning until your business is on solid ground and the risk to lending to your business has subsided.

If your business could benefit from some additional capital to take advantage of sales opportunities, we would like to speak with you. Please contact us to discuss your needs 1-888-693-1439.

7 Small Business Loan Myths ... Busted

Getting a small business loan can be complicated, but don't believe everything you hear about the process. Here are seven small business loan myths you should think twice about:

Myth No. 1: Getting a small business loan is the hardest thing you'll ever have to do.

While obtaining a loan for your small business is no easy feat, it doesn't have to be an insurmountable trial. Small business lending experts agree that you can best avoid such trouble by preparing for the challenges that applying for a small business loan may present. While there are challenges, a lot of the frustration around obtaining small business financing can be eased by doing your due diligence.  Be prepared and have all your documents ready to present to lenders.

Myth No. 2: You have to have perfect credit to get a small business loan.

Good news for those who think that bad personal credit means never owning or expanding a business. While low credit scores might have been a non-starter in years past, today's lending environment is actually more open to subpar credit ratings than ever before. While traditional banks may be restrictive when it comes to obtaining credit, there are alternative options.

Alternative lenders tend to base lending decisions on the financial realities of a business rather than the financial history of business owners. Specifically alternative lenders take a close look at business performance, industry type, time in business and cash flow before handing out a loan.

Myth No. 3: The best way to obtain a loan for my business is through a bank.




Think your bank is the best (or only) place to apply for a loan? Think again. Traditional lending institutions have been a mainstay of small business funding for many decades, and still are, in some industries. But they are not the only places (or necessarily the best places) to turn to for a loan.

For business owners looking to borrow a relatively small sum (between $5,000 and $250,000), getting a bank loan is likely to be more trouble than it's worth.   Bank loans may still be a great option for business owners who need to borrow a significant chunk of cash, over a long period, and still get a low interest rate. But make sure you fall under their categories before applying through a bank.

Getting a loan through an alternative lending source is usually much quicker than obtaining a bank loan. With a simple application, some bank statements, photo ID and proof of ownership, business owners can have cash in hand in as little as seven days. 


Myth No. 4: The worst way to obtain a loan for my business is through a bank.

9 Fast Fixes for Your Credit Scores

So you’ve had a few problems getting  the bills paid lately, and you’re wondering what you can do to repair the damage to your credit.

You’ve got plenty of company. Millions of people in Canada have credit blemishes severe enough (and BEACON credit scores under 620) to make obtaining loans and credit cards with reasonable terms difficult.

Or maybe your credit is OK, but you’d like to make it better. After all, the better your credit, the less you pay in interest.

To improve your credit scores, it’s important to know where you stand now. You can get free credit reports once a year, but you typically have to pay to see your BEACON scores.

If your scores are above 760, you’re probably already getting the best rates. If they’re anywhere below that mark, though, they could stand some improvement.

We’d be happy to assess your credit bureau at “NO COST TO YOU” and help you get on the road to
financial recovery.

Here are nine simple steps you can take to a speedy credit recovery.



1. Get a credit card if you don’t have one
Don’t fall for the myth that you have to carry a balance to have good scores. You don’t, and you shouldn’t. But having and using a credit card or two can really build your scores.

If you can’t qualify for a regular credit card, consider a secured credit card, where the issuing bank

2. Add an installment loan to the mix
You’ll get the fastest improvement in your scores if you show you’re responsible with both major kinds of credit: revolving (credit cards) and installment (personal loans, auto and student loans).

If you don’t already have an installment loan on your credit reports, consider adding a small personal loan that you can pay back over time. This is were our Crediplan program can help you build credit and save money at the same time.

3. Pay down your credit cards
Paying off your installment loans can help your scores but typically not as dramatically as paying down — or paying off — revolving accounts such as credit cards.

Lenders like to see a big gap between the amount of credit you’re using and your available credit limits. Keep your balances between 30%-80% utilization,  the lower the Utilization the higher your credit score.

4. Use your cards lightly
Racking up big balances can hurt your scores, regardless of whether you pay your bills in full each month. What’s typically reported to the credit bureaus, and thus calculated into your scores, are the balances reported on your last statements.

If you regularly use more than half your limit on a card, consider making a payment before the statement closing date to reduce the balance that’s reported to the bureaus. Just be sure to make a second payment between the closing date and the due date, so you don’t get reported as late.

5. Check your limits
Your scores might be artificially depressed if your lender is showing a lower limit than you actually have. Most credit card issuers will quickly update this information if you ask.

6. Dust off an old card
The older your credit history, the better. But if you stop using your oldest cards, the issuers may decide to close the accounts or stop updating them to the credit bureaus. The accounts may still appear, but they won’t be given as much weight in the credit-scoring formula as your active accounts.

7. Get some goodwill
If you’ve been a good customer, a lender might agree to simply erase that one late payment from your credit history. You usually have to make the request in writing, and your chances for a “goodwill adjustment” improve the better your record with the company (and the better your credit in general). But it can’t hurt to ask.

A longer-term solution for more-troubled accounts is to ask that they be “re-aged.” If the account is still open, the lender might erase previous delinquencies if you make a series of 12 or so on-time payments.

8. Dispute old negatives
Say that fight with your phone company over an unfair bill a few years ago resulted in a collections account. You can continue protesting that the charge was unjust, or you can try disputing the account with the credit bureaus as “not mine.” The older and smaller a collection account, the more likely the collection agency won’t bother to verify it when the credit bureau investigates your dispute.

9. Blitz significant errors
Your credit scores are calculated based on the information in your credit reports, so certain errors there can really cost you. But not everything that’s reported in your files matters to your scores.

Here’s the stuff that’s usually worth the effort of correcting with the bureaus:

• Late payments, charge-offs, collections or other negative items that aren’t yours.
• Credit limits reported as lower than they actually are.
• Accounts listed as “settled,” “paid derogatory,” “paid charge-off” or anything other than “current” or “paid as agreed” if you paid on time and in full.
• Accounts that are still listed as unpaid that were included in a bankruptcy.
• Negative items older than seven years that should have automatically fallen off your reports.

Get your “FREE” Credit Score Analysis today, call us TODAY 1-888-693-1439 and let’s get you back on the road to financial recovery.

How To Profit From Networking

How To Profit From Networking

Sales are frequently developed through the relationships we have created with other people. Networking functions provide the opportunity to expand our contact list,particularly when we create and nurture quality relationships. It is not enough to visit a networking group, talk to dozens of people and gather as many business cards possible. However, every networking function has tremendous potential for new business leads. Here are five strategies to make networking profitable:

 

1. Choose the right networking group or event. The best results come from attending the appropriate networking events for your particular industry. This should include trade shows, conferences, and associations dedicated to your type of business. For example, if your target market is a Fortune 500 company, it does not make sense to join a group whose primary membership consists of individual business owners. You can also participate in groups where your potential clients meet. A friend of mine helps people

negotiate leases with their landlords. He joined the local franchise association because most franchisors lease their properties.

2. Focus on quality contacts versus quantity. Most people have experienced the person who, while talking to you, keeps his eyes roving around the room, seeking his next victim. This individual is more interested in passing out and collecting business cards than establishing a relationship. My approach is to make between two and five new contacts at each networking meeting I attend. Focus on the quality of the connection and people will become much more trusting of you.

     

3. Make a positive first impression. You have EXACTLY one opportunity to make a great first impression. Factors that influence this initial impact are your handshake, facial expressions, eye contact, interest in the other person and your overall attentiveness. Develop a great handshake, approach people with a natural, genuine smile and make good eye contact. Notice the color of the other person's eyes as you introduce yourself. Listen carefully to their name. If you don't hear them or understand exactly what they say, ask them to repeat it. Many people do not speak clearly or loudly enough and others are very nervous at networking events. Make a powerful impression by asking them what they do before talking about yourself or your business. As I've always stated, "Seek first to understand and then to be understood." Comment on their

business, ask them to elaborate, or have them explain something in more detail. As they continue, make sure you listen intently to what they tell you. Once you have demonstrated interest in someone else, they will - in most cases - become more interested in you. When that occurs, follow the step outline in the next point.

     

4. Be able to clearly state what you do. Develop a ten second introduction as well as a thirty second presentation. The introduction explains what you do and for whom. For example; "I work with boutique retailers to help them increase their sales and profits."

This introduction should encourage the other person to ask for more information. When they do, you recite your thirty second presentation. "Bob Smith of High Profile Clothing wanted a program that would help his sales managers increase their sales. After

working with them for six months we achieved a 21.5 percent increase in sales. Plus, sales of their premium line of ties have doubled in this time frame." As you can see, this gives an example of your work and the typical results you have help your clients

achieve. Each of these introductions needs to be well-rehearsed so you can recite them at any time and under any circumstance. You must be genuine, authentic, and as I recently heard a speaker say, "bone-dry honest."

     

5. Follow up after the event. In my experience, most people drop the ball here. Yet the follow-up is the most important aspect of networking. There are two specific strategies to follow:

First, immediately after the event - typically the next day - you should send a handwritten card to the people you met. Mention something from your conversation and express your interest to keep in contact. Always include a business card in your correspondence.

     

Next, within two weeks, contact that person and arrange to meet for coffee or lunch.  This will give you the opportunity to learn more about their business, the challenges they face, and how you could potentially help them. This is NOT a sales call - it is a relationship building meeting.

Networking does product results. The more people know about you and your business, and the more they trust you, the greater the likelihood they will either work with you or refer someone else to you.

How small business owners can maintain a work/life balance

As a small business owner, you're likely to run low on a few key resources when you first start out.
Funds are one of them, and fortunately cash flow finance can help with that. However, a lack of time is another factor that can bring stress to many a business owner's life.
Even if your business is still in its infancy and you've got your hands full with tasks, there are some measures you can take to strike a good work/life balance and hold onto your sanity.

Set boundaries – and stick to them
Anyone can set deadlines and limits, but sticking to them is easier said than done.
The fluid, flexible nature of start-up businesses can make it difficult to implement strict office hours and schedules, but try to set specific times every day and week when you cut yourself off from work.
Setting these boundaries can also work in your favour as you have a clear deadline to work towards and be more productive and targeted in your efforts.

Delegate and automate as much as you can
You may have handled all or most of your company's work when you started out, but as the business grows and takes on more staff, it's time to share the workload.
Delegate tasks to the people who are most suited to carry them out, while you focus on the core aspects of the business yourself.
Minor administrative tasks such as invoicing and payrolls can also be automated without any human input. There is a range of specialist automation software available, so this could be a wise time-saving investment.

Don't forget to plan for 'me-time'
In the non-stop rush of running a small business, it's important to also pay attention to your personal life.
Use the same systematic approach you use at work to plan for your downtime as well, figuring in after-hours activities and longer projects such as end-of-year vacations.

Stepping up

An excerpt from Stepping Up by John Murphy

Listen carefully to successful people all over the world and they will tell you one thing. Opportunity quietly surrounds you. Information and knowledge are within your reach. Prosperity is silently knocking at your door. Victory mysteriously awaits you. Subtle and elusive as it may seem, there is no scarcity of success. It is available to all of us. The only real problem is how we choose to respond to the unlimited abundance that is ours for the taking. Do we accept it or reject it? Do we allow it or resist it? Do we demand it or dismiss it? Do we take it in or turn it away? Stop and ask yourself: How do you see the world? How do you see yourself in the world? How do you see your relationship with the world? Do you see the opportunity? Do you believe it is yours for the taking? Do you feel worthy of success? Do you feel deserving? Are you asking for it? Are you looking for it? Are you listening for it? Are you open to it? Are you allowing it to manifest in your life and your presence, or have you convinced yourself that you do not qualify for one reason or another? Are you seizing the opportunity to advance yourself and the world in a mutually beneficial way or are you putting it off for another day? Are you expecting success or suspecting it? Are you even aware the choice is up to you? I am fortunate to work with many successful executives, professionals, military leaders, authors, consultants, teachers, parents, coaches and athletes around the world and a term I hear more and more frequently is "Step Up." From North America to China to Brazil to countries all over Europe, the mantra is the same. We need people to step up. We believe in them. We see the potential. We know they can do better. We want to them to succeed. We just need to see them take charge and step up. In other cases, proactive people are advancing themselves without being asked or encouraged. They just do it, often surprising the people around them. They use the ten "take-aways" described in this book to tap into their true potential. This illustrates that we do not need permission to step up. We do not need to be told to do it, or even asked. We can apply these take-aways to our personal and professional lives wherever and whenever we want. The key is to know that we can step up and then to know how! The purpose of this book is to explain how to step up and accelerate success. Why wait? Why not seize the moment? Why not get started immediately? Why make excuses that limit us? Why rationalize our undesirable results and restrict ourselves? This book is not about self-imposed resistance to change. It is about flow. It is about energy. It is about movement and motivation, insight and inspiration. It is about "taking away" lessons learned from the best of the best, people who in many cases overcame tremendous odds to reach levels of performance and prosperity that many only dream of. Take these tips and use them to elevate your life. Use this book and these take-aways to:

- Take ownership and responsibility for your outcomes - Take a good, honest look in the mirror - Take time to reflect on who you are and what you are capable of - Take measure of your current state—the good, the bad and the ugly! - Take advice from wise counsel - Take a chance - Take action - Take another look at your life and your results - Take a knee and give thanks for what you are and what you have

Click here to order Stepping up

Own Your Dreams

An excerpt from

Own Your Dreams

by John Maxwell What is your dream?

How will you achieve it?

The first question may be difficult to answer. You may have many dreams. Yet, there must be one that stands out above all others...one that inspires you, energizes you, and empowers you to do everything you can to achieve it.

The second question is the reason most people never realize their dreams. They have no strategy in place for attaining it, no knowledge of what is needed and must be sometimes sacrificed to have the dream come true.

Will you achieve your dreams in your lifetime?

I'm certain that you desire to. I'm sure you hope you will. But will you actually do it? What odds would you give yourself? One in five? One in a hundred? One in a million? How can you tell whether your chances are good or whether your dream will always remain exactly that—a dream?

Most people have no idea how to achieve their dreams. What they possess is a vague notion that there is something they would like to do someday or someone they would like to become. But they don't know how to get from here to there. If that describes you, then you'll be glad to know that there really is hope.

 

 Change is a process that most people do not like to undertake. Whether it’s a change in jobs, homes, relationships, memberships, etc., in almost all areas people complain about the change process. Instead of embracing the new that is approaching on the horizon, people lament the old that is slipping away. You might think of it as the dawn and the sunset. Both occurrences are beautiful and serve to enhance each other. Yet alone, a lifetime of sunsets would not be the same as a lifetime that experiences both.

Looking at change from a different perspective, it would be a happier and easier process if we looked at what we are gaining rather than what we are losing. Think of it as the yin and the yang of the universe. Without change we would become stagnant. Stagnant water stinks. It is not drinkable, and no one wants to swim in it. Animals avoid it and people do too.

Conversely, living water is water that flows and refreshes itself and its boundaries. It invites us to its shores as we watch and listen to the process. It invigorates us rather than depresses us. Change can be that way too if we allow ourselves to see it from the angle of newness.

Being part of the here and now requires us to embrace change. A change in routine, diet, exercise, or in whatever else has become stagnant in our lives, can change our world. It does not have to be monumental to make a difference in our lives, but we do have to begin the process. It could be as simple as a thirty minute walk during the day that can be the start of further change.

Why not challenge yourself to the change process if you feel you are stuck in a stagnant life? Find a small change to make that is non-threatening at first, and then do it. Like the snowball that gathers speed and size as it rolls downhill, I just bet you will find that everything about change is not negative. And, there is much more of the positive that you will like to explore in this process when you take that first bold step toward gifting yourself with more of life!

Be Your Very Best Always,
Judy Williamson

It's Not Where You Start—It's How You Finish

An excerpt from
Achieve Any Goal
by Brian Tracy  

 

When I was eighteen, I left high school without graduating. My first job was as a dishwasher in the back of a small hotel. From there, I moved on to washing cars and then washing floors with a janitorial service. For the next few years, I drifted and worked at various laboring jobs, earning my living by the sweat of my brow. I worked in sawmills and factories. I worked on farms and ranches. I worked in the tall timber with a chain saw and dug wells when the logging season ended.

I worked as a construction laborer on tall buildings and as a seaman on a Norwegian freighter in the North Atlantic. Often I slept in my car or in cheap rooming houses. When I was twenty-three, I worked as an itinerant farm laborer during the harvest, sleeping on the hay in the farmer's barn and eating with the farmer's family. I was uneducated and unskilled, and at the end of the harvest, I was unemployed once more.

When I could no longer find a laboring job, I got a job in straight commission sales, cold-calling office-to-office and door-to-door. I would often work all day long to make a single sale so that I could pay for my rooming house and have a place to sleep that night. This was not a great start at life.

The Day My Life Changed

Then one day, I took out a piece of paper and wrote down an outrageous goal for myself. It was to earn $1,000 per month in door-to-door and office-to-office selling. I folded up the piece of paper, put it away, and never found it again.

But thirty days later, my entire life had changed. During that time, I discovered a technique for closing sales that tripled my income from the very first day. Meanwhile, the owner of my company sold out to an entrepreneur who had just moved into town. Exactly thirty days after I had written down my goal, the new owner took me aside and offered me $1,000 per month to head up the sales force and teach the other salespeople what I was doing that enabled me to sell so much more than anyone else. I accepted his offer, and from that day forward, my life was never the same.

Within eighteen months, I had moved from that job to another and then to another. I went from personal selling to becoming a sales manager with people selling for me. In a new business, I recruited and built a ninety-five-person sales force. I went literally from worrying about my next meal to walking around with a pocket full of $20 bills.

I began teaching my salespeople how to write out their goals and how to sell more effectively. In almost no time at all, they increased their incomes as much as tenfold. Today, many of them are millionaires and multimillionaires.

Life Goes Up and Down

I have to admit that since those days in my mid-twenties, my life has not been a smooth series of upward steps. It has included many ups and downs, marked by occasional successes and temporary failures. I have traveled, lived, and worked in more than ninety countries, learning French, German, and Spanish along the way and working in twenty-two different fields.

As the result of inexperience and sometimes sheer stupidity, I have spent or lost everything I made and had to start over again—several times. Whenever this happened, I would begin by sitting down with a piece of paper and laying out a new set of goals for myself.

After several years of hit-and-miss goal setting and goal achieving, I finally decided to collect everything I had learned into a single system. By assembling these ideas and strategies in one place, I developed a goal-setting methodology and process, with a beginning, middle, and end, and began to follow it every day.

Within one year, my life had changed once more. In January of that year, I was living in a rented apartment with rented furniture. I was $35,000 in debt and driving a used car that wasn't paid for. By December, I was living in my own $100,000 condominium. I owned a new Mercedes, had paid off all my debts, and had $50,000 in the bank.

Then I really got serious about success. I realized that goal setting was incredibly powerful. I invested hundreds and then thousands of hours reading and researching goal setting and goal achieving, synthesizing the best ideas I could find into a complete process that worked with incredible effectiveness.

Anyone Can Do It

What I found was that these ideas work everywhere, for everyone, in virtually every country, no matter what your education, experience, or background may be when you begin.

Best of all, these ideas have made it possible for me and many thousands of others to take complete control over our lives. The regular and systematic practice of goal setting has taken us from poverty to prosperity, from frustration to fulfillment, from underachievement to success and satisfaction. This system will do the same for you. 

The Power of Attitude

An excerpt from
The Power of Attitude

by Mac Anderson 

In many ways, we're alike; however, one little difference almost always makes a big difference. The little difference is attitude.

William James, over a century ago, said, "The greatest discovery of this generation is that a human being can alter their life by altering their attitude." I believe this with all my heart, and over the years have seen it happen countless times. What most people fail to realize is that your attitude not only impacts your happiness and your success, it also can impact the happiness and success of all the people around you...your family, your friends, and your peers at work. Attitudes truly are contagious, and from time to time we need to ask ourselves..."is mine worth catching?"

There is no way to overstate the importance of a positive attitude in your life. However, no one can underestimate the difficulty in maintaining it. It's not easy, and it's a very personal thing, but it can be done.

The Power of Attitude was written with that in mind. I only can share with you what works for me in developing and maintaining a positive approach to life. My goal is that some of the ideas and stories I'll share will inspire you to live the life of your dreams and to make a positive difference in the lives of others.

It's my hope that this book will be a useful tool in helping you:

• Manage your energy levels
• Keep your soul alive
• Take new paths
• Reduce stress
• Develop the "Human Touch"
• Attack your fears
• Live in awe
• Savor small successes
• Burn brightly without burning out
• Hang on when the storms blow through

An Empty Pickle Jar

A professor stood before his philosophy class and had some items in front of him. When the class began, wordlessly he picked up a very large and empty pickle jar and proceeded to fill it with golf balls.

He then asked the students if the jar was full. They agreed that it was. So the professor then picked up a box of pebbles and poured them into the jar. He shook the jar lightly. The pebbles rolled into the open areas between the golf balls. He then asked the students again if the jar was full. They agreed it was.

The professor next picked up a box of sand and poured it into the jar. Of course, the sand filled up everything else. He asked once more if the jar was full. The students responded with a unanimous "yes."

The professor then produced two glasses of chocolate milk from under the table and poured the entire contents into the jar effectively filling the empty space between the sand.

The students laughed.

The Moral of the Story - The professor waited for the laughter to subside....

"Now," said the professor, "I want you to recognize that this jar represents your life. The golf balls are the important things...your family, your children, your health, your friends, your favorite passions. Things that if everything else was lost and only they remained, your life would still be full."

"The pebbles are the other things that matter like your job, your home, your car."

"The sand is everything else...The small stuff. If you put the sand into the jar first, there is no room for the pebbles or the golf balls. The same goes for life. If you spend all your time and energy on the small stuff, you will never have room for the things that are critical to your happiness."

"Play with your children. Take time to get medical checkups. Take your partner to dinner. Play another 18. There will always be time to clean the house or fix the disposal."

"Take care of the golf balls first, the things that really matter. Set your priorities, the rest is just sand."

This story is a wonderful reminder to focus on what is most important in our lives.

How home closing costs can add up

 Home buyers are often advised to set aside one-to-three per cent of the purchase price of their house for closing costs.  These fees are explained during the home buying process, but it is helpful to ask questions so you fully understand how these costs can affect  your budget.

Legal fees: On average you should budget $600 to $900 for legal fees and an additional $200 to $400 for disbursements, which includes registering the mortgage, completing a tax certificate, and doing a title search on the property.  On top of that you may pay administrative fees for postage, faxing and photocopying.

Shop around. Some law offices specialize in handling mortgage disbursements and offer cheaper rates.  Ask your bank or mortgage broker which law firm they recommend and then call at least 3 other lawyers for quotes.  A few phone calls can save you hundreds of dollars.  I paid $810 for legal fees and disbursements - the next best quote was over $1,000.

Related: Never buy a house without a home inspection

Property tax adjustment: If you buy an existing home, the previous owners have paid property taxes to the City.  On closing, you will be required to reimburse them for the taxes they have prepaid for the year. 

For example if the previous owners paid $2,000 in property taxes for the year and you took possession of their home on June 30, you will be required to pay the owner half the pre-paid taxes, or $1,000.

Interest adjustment Date: Depending on the date chosen by your lender as the interest adjustment (the date the mortgage starts) you may be required to pay interest from the closing date until your interest adjustment date.  The maximum amount would be one month’s interest at the rate of your mortgage.

For example, our mortgage was advanced when we took possession of our home on August 15.  We owed an interest-only payment from the advance date until September 1, which was our interest adjustment date.  Our first full mortgage payment came out on October 1.

While it may sound like you get some reprieve by skipping a monthly mortgage payment, most people want to start eliminating this debt as quickly as possible.

Land Transfer Tax: In general, if you buy land or an interest in land in Ontario, you must pay Ontario's land transfer tax, whether or not the transfer is registered at one of Ontario's land registry office.

Land includes any buildings, buildings to be constructed, and fixtures (such as light fixtures, built-in appliances and cabinetry). The land transfer tax payable is normally based on the amount paid for the land. If you are a first-time homebuyer, you may be eligible for a refund of all or part of the tax.


Calculation of Land Transfer Tax

• 0.5% of the value of the consideration up to and including $55,000,
• 1% of the value of the consideration which exceeds $55,000 up to and including $250,000, and
• 1.5% of the value of the consideration which exceeds $250,000, and
• 2% of the amount by which the value of the consideration exceeds $400,000 for land that contains at least one and not more than two single family residences.
• On July 1, 2010, Ontario introduced a federally administered Harmonized Sales Tax (HST) that applies to most purchases and transactions. The HST applies to newly constructed homes, but does not apply to resale homes. Buyers of new homes will receive a rebate of up to $24,000 regardless of the price of the new home.

Title Insurance: Title insurance does not replace the role of the lawyer. It simply provides an added level of protection for the purchaser(s). Ontario lawyers still must search title and certify the status of title before a title insurance policy can be issued.  For a one-time premium ($150 - $299), the policy protects the purchaser(s) and mortgage lender against losses suffered from matters set out below as well as other matters more specifically outlined in the policy:

• defects that would have been revealed by an up-to-date survey
• survey errors or illegibility of survey
• encroachments (before or after closing)
• contravention of municipal zoning by-laws
• unmarketability of title
• defects in the title
• invalidity or unenforceability of the mortgage on title
• liens
• easements (other than usual easements for utilities, etc.)
• contravention of subdivision, development and other agreements
• priority of certain construction liens
• priority of unregistered easements and rights of way
• fraud or forgery (prior to and after closing)
• solicitor error, omission or fraud
• unpaid property taxes or local improvement charges by a prior owner

Hidden costs can make it difficult to stick to a budget, especially for a first time home buyer.  Be sure to ask your Broker in advance for a detailed description of all your closing costs so they are factored into your overall budget.

Charging the Human Battery

An excerpt from
Charging the Human Battery
by Mac Anderson

The older I get, the more I enjoy Saturday morning. Perhaps it's the quiet solitude that comes with being the first to rise, or maybe it's the unbounded joy of not having to be at work. Either way, the first few hours of a Saturday morning are most enjoyable.

A few weeks ago, I was shuffling toward the garage with a steaming cup of coffee in one hand and the morning paper in the other. What began as a typical Saturday morning turned into one of those lessons that life seems to hand you from time to time. Let me tell you about it:

I turned the dial up into the phone portion of the band on my ham radio in order to listen to a Saturday morning swap net. Along the way, I came across an older sounding chap, with a tremendous signal and a golden voice. You know the kind; he sounded like he should be in the broadcasting business. He was telling whomever he was talking with something about "a thousand marbles." I was intrigued and stopped to listen to what he had to say.

"Well, Tom, it sure sounds like you're busy with your job. I'm sure they pay you well but it's a shame you have to be away from home and your family so much. Hard to believe a young fellow should have to work sixty or seventy hours a week to make ends meet. It's too bad you missed your daughter's dance recital," he continued; "Let me tell you something that has helped me keep my own priorities." And that's when he began to explain his theory of a "thousand marbles."

"You see, I sat down one day and did a little arithmetic. The average person lives about seventy-five years. I know, some live more and some live less, but on average, folks live about seventy-five years.

Now then, I multiplied 75 times 52 and I came up with 3,900, which is the number of Saturdays that the average person has in their entire lifetime. Now, stick with me, Tom, I'm getting to the important part.

It took me until I was fifty-five years old to think about all this in any detail," he went on, "and by that time I had lived through over twenty-eight hundred Saturdays. I got to thinking that if I lived to be seventy-five, I only had about a thousand of them left to enjoy. So I went to a toy store and bought every single marble they had. I ended up having to visit three toy stores to round up 1,000 marbles. I took them home and put them inside a large, clear plastic container right here in the shack next to my gear.

Every Saturday since then, I have taken one marble out and thrown it away. I found that by watching the marbles diminish, I focused more on the really important things in life.

There's nothing like watching your time here on this earth run out to help get your priorities straight.

Now let me tell you one last thing before I sign off with you and take my lovely wife out for breakfast. This morning, I took the very last marble out of the container. I figure that if I make it until next Saturday then I have been given a little extra time. And the one thing we can all use is a little more time.

It was nice to meet you Tom. I hope you spend more time with your family, and I hope to meet you again here on the band. This is a 75 year old man, K9NZQ, clear and going QRT, good morning!"

You could have heard a pin drop on the band when this fellow signed off. I guess he gave us all a lot to think about. I had planned to work on the antenna that morning, and then I was going to meet up with a few hams to work on the next club newsletter.

Instead, I went upstairs and woke my wife up with a kiss. "C'mon honey, I'm taking you and the kids to breakfast."

"What brought this on?" she asked with a smile.

"Oh, nothing special, it's just been a long time since we spent a Saturday together with the kids. And hey, can we stop at a toy store while we're out? I need to buy some marbles."

The most powerful message I've ever heard

An excerpt from
The Strangest Secret
by Earl Nightingale

George Bernard Shaw said, "People are always blaming their circumstances for what they are. I don't believe in circumstances. The people who get on in this world are the people who get up and look for the circumstances they want, and if they can't find them, they make them."

Well, it's pretty apparent, isn't it? And every person who discovered this believed (for a while) that he was the first one to work it out. We become what we think about.

Conversely, the person who has no goal, who doesn't know where he's going, and whose thoughts must therefore be thoughts of confusion, anxiety and worry - his life becomes one of frustration, fear, anxiety and worry. And if he thinks about nothing... he becomes nothing.

How does it work? Why do we become what we think about? Well, I'll tell you how it works, as far as we know. To do this, I want to tell you about a situation that parallels the human mind.

Suppose a farmer has some land, and it's good, fertile land. The land gives the farmer a choice; he may plant in that land whatever he chooses. The land doesn't care. It's up to the farmer to make the decision.

We're comparing the human mind with the land because the mind, like the land, doesn't care what you plant in it. It will return what you plant, but it doesn't care what you plant.

Now, let's say that the farmer has two seeds in his hand- one is a seed of corn, the other is nightshade, a deadly poison. He digs two little holes in the earth and he plants both seeds - one corn, the other nightshade. He covers up the holes, waters and takes care of the land...and what will happen? Invariably, the land will return what was planted.

As it's written in the Bible, "As ye sow, so shall ye reap."

Remember the land doesn't care. It will return poison in just as wonderful abundance as it will corn. So up come the two plants - one corn, one poison.

The human mind is far more fertile, far more incredible and mysterious than the land, but it works the same way. It doesn't care what we plant...success...or failure. A concrete, worthwhile goal...or confusion, misunderstanding, fear, anxiety and so on. But what we plant must return to us.

You see, the human mind is the last great unexplored continent on earth. It contains riches beyond our wildest dreams. It will return anything we want to plant.

Top 10 kitchen renovation tips

By Karen Cole Banack and Melody Duron

From the cabinets to the appliances, find out how to ensure a successful renovation.

Renovating your kitchen will add ease to your lifestyle and value to your home. Here are the 10 most important things to consider when you're updating your kitchen.

1 Use quality materials.
Quality drawer slides and hinges mean cabinet doors will stay closed and drawers won't stick. Stay away from drawers that are stapled together or made of particleboard. For cabinet interiors, wood veneer is more durable than melamine, laminate, MDF or particleboard.

2 Determine cabinet heights.
If you have eight-foot ceilings, choose cabinets that go to the ceiling. They offer more storage, enabling you to use extra wall space for artwork or open shelves. If your ceilings are higher than eight feet, leave 15 to 18 inches above the cabinets.

3 Decide whether to paint or stain.
Though stained-wood cabinetry is forgiving, most finishes date quickly and aren't easily altered. Brush-painted cabinets can lend a unique personality.

4 Select an elegant countertop
White Carrara marble (honed or acid washed and sealed) and stained wood adds elegance and warmth. We also like honed Kirk stone slate, soapstone and Wiarton limestone, and plastic laminate with a wood edge for a sophisticated look.

5 Install an island that works.
Beware of placing a bulky cube in the middle of the room. We like islands that have an open, airy look. Ideally, an island should be unencumbered by appliances, but if you want it to house a dishwasher-sink combo or a cook top, try to maintain the light look of a leggy harvest table.

6 Don't overdo the details.
Design accents such as pediments over stoves and plaster moldings on cabinet fronts can represent decorative excess. Remember that the style of your kitchen should be compatible with the rest of your home.

7 Avoid maintenance nightmares.

Natural surfaces with inherent texture -- slate, terra cotta, brick and tumbled marble -- are more difficult to clean but camouflage the odd crumb. Smooth surfaces in light colours, such as white laminate counters or ceramic floors, are easy to clean but show everything. And as much as we love stainless steel, it's not easy to keep smudge-free.

8 Stick to basic appliances.
Instead of lots of appliances and gadgets, consider selecting a few reliable basics. For example, a commercial-quality stainless-steel range makes an interesting focal point and takes up less space than separate wall ovens and a cook top.

9 Incorporate an adjacent dining room.
A clever design, plus the appropriate lighting and furniture, will let you adapt the room's atmosphere to suit any occasion. Consider a banquette design combined with slip covered chairs for an efficient use of space.

10 Add interest.
Your kitchen should reflect you, not look like a showroom. Before designing the space, search for a piece of unique furniture and use it in your design -- a room full of floor-to-ceiling, wall-to-wall kitchen cabinets looks boring and uninspired.