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What Determines How Much Mortgage You Can Borrow?

How Much Mortgage You Can Borrow

Mortgages are a great way to finance your new home if you don’t have enough capital to pay in full, which is the case for the large majority of the US population. But when you apply for a mortgage, it’s best to determine how much money you can borrow before you go and start looking for home that you may not be able to afford. When you go about the housing market with a rough idea of your budget and what type of mortgage you can afford, it will be much easier to narrow down your options and pick your next home.

Your Debt to Income Ratio

One of the main factors that go into how much mortgage buyers can borrow is their debt to income ratio. Also known as DTI, this is a measurement that lenders use to determine and ensure that you’ll be able to cover all the loan costs moving forward.

When measuring DTI, lenders consider all existing debt and the new debt that comes along with the mortgage. In the large majority of cases, the lender will consider your student loans, car loans, and other payments before adding in the mortgage costs.

From there, lenders will easily see how much you can afford in monthly payments.

DTI ratio is calculated by dividing your total monthly debt by your income. So, for example, if you earn $8000 per month and have a monthly debt of $800 per month, your DTI ratio will be 10%. When you have a low DTI ratio, you will generally be approved for higher mortgages and monthly payments.

The Downpayment

While specific government programs don’t require a downpayment before getting a loan, such as the Veteran Affairs loan and others, most mortgages will require a downpayment beforehand.

The cost of the downpayment? It depends on the type of loan you’re applying for. If you apply for a Federal Housing Administration loan, the downpayment is around 3.5% of the sales price, but it can go as high as 20% of the sales price with other loans and programs.

Typically, buyers pay between 2%-5% of the total sales cost for housing loans. Keep in mind that this doesn’t include closing fees, which are required when purchasing a home. The higher your downpayment, the more likely you are to get favorable interest rates.

For example, if you pay a 20% downpayment, you get a much lower interest rate than if you were to pay a 5% downpayment.

Credit Score

Credit scores are based on one’s payment history, types of credit you have, new credit applications, and how long you’ve had credit. This is one of the most important factors lenders consider when determining how much mortgage one can borrow.

When lenders check your credit report, they pay close attention to your credit score. If you have a low credit score, you may still apply for a loan but expect higher fees and overall higher mortgage payments. If you have a high credit score, it will be much easier to secure a loan with lower monthly fees.

Before you apply for a mortgage, we highly recommend checking out your credit profile first. And if you find you have a low credit score, it’s best to take measures to increase it.

You can increase your credit score by paying off your debts, paying your bills on time, or you can make a significant payment on existing debts. All of these things can improve your credit score and allow you to secure a more desirable mortgage.

Conclusion

Keep in mind that lenders don’t look at all these factors in a vacuum. While they focus on specific factors when determining the loan you can afford, they will always look at the bigger picture and consider all of these things.

Experts like Breezeful recommend that first-time homebuyers have no existing debt, have a good credit score, and have 3-6 months’ worth of expenses saved up in their bank account before applying for a mortgage. This can help you secure much better rates and even qualify you for higher loans so you can get the home of your dreams.

A Job Well Done – 6 Ways to Show Your Staff How Much You Appreciate Them

Job Well Done

A business couldn’t survive without great employees, so it is essential to show your team how much they mean to you.

It is natural for employees to work harder and enjoy their job if they feel valued. A successful business is one where the whole company pulls together as one big happy team and is steered forward by a boss who recognizes their efforts.

If your employees need some rewards, here are 6 ways to show your staff how much you appreciate them.

A Great Christmas Party

The festive season is a time for fun and celebration, and this should spill into the workplace.

After a year of hard work, why not throw a Christmas party for your employees? Use an online platform for events organization to make the whole planning process as easy as (pumpkin) pie.

Christmas parties are a time for employees to let their hair down and indulge in some team building. Ensure that you are generous and book a venue with delicious food, an open bar, and a throbbing dance floor.

Fun Days

Everyone needs a break from work, so now and again, you could down tools and arrange a fun day for the company. You could host a bbq, sports day, or go to a bowling alley on a Friday afternoon with your staff and let everyone have some fun.

Bonuses

Most of us work to live and don’t live to work, so why not reward them with a monetary gift. When your company has had a particularly good financial year, share the success with your staff and give them a cash bonus in their next paycheck.

Time Off

Even when employees enjoy their work, they still find it nice to have some time off to spend with friends and family.

You could consider offering your team time-in-lieu when they have gone over and beyond the call of duty or when the workload is quiet.

Tell Them

Often the best way to let your staff know that you appreciate them is to tell them. Most people like to be complimented on their work and will continue to do an excellent job to keep you happy when they know their efforts are recognized. Nothing disheartens a team more than when they work their fingers to the bone, and senior staff give no positive feedback in return. A team who feels under appreciated will soon lower their work standards, increase their absences or leave the company altogether.

Feed Them

They say the way to a man’s heart is through his stomach, which is probably true of employees too! Satisfy your hungry workers by treating them to a buffet lunch of sandwiches, cakes, and hot savories or order in a selection of pizzas. If it is a success, you could make it a weekly or monthly event for your staff to look forward to.

There are many ways to show your staff that you care and keep them motivated, so ensure you try some of them if you want your business to stay successful.

Recurring Separatist Agitations in Africa: Exploring Renegotiation and Dissolution as Possible Way Out

Africa

By Olusegun Akinfenwa

There are 54 countries in Africa, and at least 25 have experienced active separatist conflict. The crises have become commonplace, resulting in the division and fragmentation of some of these countries, such as Eritrea from Ethiopia and South Sudan from Sudan. There are also many yet undivided ones but highly polarised along religious and ethnic lines with recurring and widespread agitations that have crippled their socio-economic developments.

March 21, 1990 marked the end of colonial rule on African soil after South Africa formerly relinquished control over Namibia. Over three decades of independence from western rulers, the continent seems to be in conditions worse than the days of colonialists due to incessant unrests.

Nigeria is one of the countries that has grappled with secession-related crises since its independence from Britain in 1960. This was the genesis of the bloody civil war between the separatist Biafra Army led by Odumegwu Ojukwu and the federal military government. The war lasted from 1967 to 1970 and led to 500,000 to 2 million deaths.

From 1961 to 1991, Eretria was at loggerheads with Ethiopia in the struggle for an independent nation. Before it finally gained freedom in 1991, the war claimed the lives of thousands of Eretria soldiers. Even after the bloody separation, the two countries still renewed their enmity, which escalated during the 1998-2000 border control fight, leaving each with devastating effects.

Many political analysts have attempted to substantiate the underlying factors causing and fuelling these recurring conflicts.  Identified major culprits include the forceful amalgamation of regions with different social and political ideologies by foreign colonial governments, poor political structures, and greed by many past and present African leaders.

Most amalgamations of countries in Africa were not done in the interest of the indigenous people, who clearly had no say in the merger. Some view them as a mere act of economic gain and colonial convenience for western powers.

For instance, the 1914 amalgamation of Nigeria was said to have occurred because the British colonizers desired a contiguous colonial territory extending from the arid Sahel to the Atlantic Coast. Northern Nigeria was revenue-challenged while the southern part boasts of sufficient revenue that exceeded its administrative costs. Because administrative-wise, it favoured the colonizers to have one coherent colony instead of two, the prosperous south was, therefore, joined with the disadvantaged north so the former could subsidise the latter.

This marked the start of distrust and rancour between the two regions with distinct ideological differences. The north is a Muslim-dominated region and the main centre of the Islamic empire, the Sokoto Caliphate. Northerner’s socio-political leanings and solidarity were toward the Middle East and the wider Islamic world. On the other hand, the south is more diverse, and its major socio-political influences are inherent in Western and traditional African values. So, looking at the two jurisdictions’ contrasting backgrounds, merging them together in the first place was clearly not in the best interest of the indigenous peoples, and it may be a mirage expecting them to unite truly. This is because neither of the two sides has ever genuinely demonstrated the willingness to relinquish its long-held ideologies and beliefs.

For instance, the north still practices sharia law, and their administration of this Islamic governing system has been found to exhibit many flaws, such as discrimination and human rights abuses and convicting people, including minors, for blasphemy. To date, the conflict-torn north still benefits massively from the mineral resources-rich and more economically viable south.

In Cameroon, there remains no love lost between the and English-speaking and the French-speaking regions since the 1961 amalgamation, and the age-long distrust has prompted the call for an independent nation by the Anglophone region.

The year-long power tussle between the Tigray region and the central government has claimed about 10,000 lives in Ethiopia and caused over 230 massacres. It has led to the country’s worst famine in decades. While the root cause reeks more of a supremacy fight between the central authority and a regional government, it is now tilting towards another separatist conflict as more Tigrayans now favour and clamour for an independent nation of their own.

The lopsidedness in the political structure in most countries makes some regions lord it over the others. Since the unification of French Cameroun and British Southern Cameroon, only the Francophone speaking leaders have ruled the country. The English-speaking regions are therefore less represented, and many of the central government’s policies are said to be unfavourable to them.

Nigeria’s major revenue is derived from crude oil from the south-south Niger Delta region. But the same region suffers impoverishment and degradation from decades of oil spills and gas flaring that leave their waters and the entire ecosystem in a mess and affect fishing activities, which is the indigenous people’s primary source of income. In contrast, most of the oil blocks there are owned by influential individuals from the northern part of the country due to the highly politicised economic structure.

These persisting sheer inequalities are largely responsible for the recurring clamours for self-determination. Given the human and economic costs resulting from these conflicts, peaceful dissolution through referendum should perhaps be explored. Sadly, most African leaders seem adamant in upholding their long-held on-negotiability stance. In Nigeria, for instance, there is no provision for a referendum in the constitution. Despite the series of amendment the constitution has undergone, there has always been a dubious omission of such provision.

Obviously, the state of affairs across the continent favours the politicians who amass wealth for their unborn generations from the rots and are bent on maintaining the status quo. They have created laws and environments that daily widens the disparity between them and the masses and seem to have weaponized illiteracy and poverty to keep the general public suppressed. It is unimaginable that Nigeria, the world’s poverty capital, runs one of the most expensive bureaucracies globally, especially at the legislative and executive arms of government at the federal, state, and local government levels.

It is difficult to ascertain the exact human and economic costs of armed conflicts in Africa due to many underestimated and unreported cases. However, given the conflict trends in the past few decades, the continent has suffered enough deaths, forceful displacements, and other humanitarian crises that should prompt African leaders re-strategize their approach to governance.

The volatile situation has plunged Africa into a growing devastating refugee crisis, with many displaced persons seeking refuge outside the continent. Europe, for instance, is one of the continents that has recently recorded a surge in asylum-seeing Africans. Some of these migrants access Europe through unconventional and dangerous routes, including boat rides through the Mediterranean Sea. They endanger their lives and risk it all with the hope of someday securing permanent residence in countries, such as the settlement status in the United Kingdom and green card in the United States. In the past seven years, over 20,000 migrant deaths have been recorded at sea. Despite that, more Africans are still willing to explore the route just to flee the hardship at home.

Obviously, many African countries are sitting on gun powder, as no entity can progress with such a high level of recurring crises. The underlying causes must be tackled headlong. The continued discountenance of the masses’ feelings and views regarding their nationhood could be tantamount to postponing the doomsday, as no amount of peace talks can be fruitful without equity and respect for human rights. It is high time African leaders amended their law books to truly reflect equitable political representation, resource control, and, most importantly, rights to self-determination. This will allow people to reassess or renegotiate their nationhood and employ peaceful dissolution in the event that co-existing brings more problems than opportunities.

About the Author

Olusegun Akinfenwa writes for Manchester Immigration Lawyer. A law firm based in the United Kingdom and offering immigration advice services globally, including the Republic of Ireland citizenship and immigration process.

Innovation, Inclusion, and Integrity: The Themes of DC Fintech Week 2021

Fintech

From the Capitol Beltway to Across the Globe

The fifth annual DC Fintech Week begins on October 18th, 2021. After two summers of civil rights protest, economic unrest, and uncertainty for our economic and at times democratic futures, the conference feels more prescient than ever. Last year’s Fintech Week was the first to be held entirely remotely and the response was palpable. With an international reach and thousands across the world tuning in, the conference typically built for experts within the fields of fintech and financial regulation was attended by students and self-taught investors as well. The reception of last year’s event wasn’t lost on the Institute for Financial Markets which said, “Following a phenomenal turnout last year and a truly global reach DC Fintech Week 2021 will again be primarily held virtually. This enables our unique international fintech policy event to connect with tens of thousands of fintech leaders beyond the beltway on a global scale.”  Although initially the conference was held remotely due to distancing regulations brought on by the COVID-19 pandemic, with any luck the influx of attendees will ensure that DC Fintech Week stays remote for years to come. To further emphasize their commitment to disseminating information on a global scale, the center announced “Attendance is provided free of charge. Our aim is to elevate the public’s understanding, and discourse, by democratizing the ideas and thoughts driving industry and policymakers.” None of this is a surprise coming from a conference founded by Dr. Chris Brummer, whose commitment to equal access information and equality of opportunity has formed the bedrock of his career. The themes for the conference this year have been listed as “Innovation, Inclusion, and Integrity,” which are also three terms that could easily sum up Dr. Brummer’s entire career.

Fintech Week: Financial Equalizer

Fintech week reflects Professor Brummer’s many considerable policy interests.  Considerable emphasis has often lay on shortcomings in policy across a number of dimensions. One focal point has been diversity.  Dr. Brummer knows all too well the deficits in representation within academia, leadership, and financial regulation itself. His study for Brookings, “What do the data reveal about (the absence of Black) financial regulators?” has highlighted that representation has always been a problem with the supervision of financial institutions, and charts deficits present since the New Deal.

Innovation, another theme of this year’s Fintech Week, is also Dr. Brummer’s specialty. He is a professor and faculty director of Georgetown’s Institute of International Economic Law and has dedicated his career to keeping up with new frontiers in fintech and financial regulation.  He hosts the podcast Fintech Beat in which he interviews experts and insiders in financial technology to explore “the intersection of policy, finance, and tech” for the benefit of potential investors and enthusiasts alike. He has had the distinction of serving on President Joe Biden’s transition team and was just added to Fannie Mae’s board of directors in February of 2021.

The final conference them of Integrity reflects the forum’s longstanding engagement with financial stability and soundness. With the rise of the digital economy, new threats have emerged, from ransomware to illicit finance.  Fintech Week has long addressed them since its founding five years ago, and regularly hosts discussions from law enforcement and the Treasury Department.

Banks for the People

DC Fintech Week 2021 will follow what was in some ways its kick off event—Georgetown’s  first ever CDFI Technology Summit held in June. Part of the long work of closing the racial wealth gap involves solving problems relating to how easily and effectively people in ethnic minorities can access financial institutions; having a loan accepted or denied can mean the difference between being able to start a small business or not. CDFI’s or Community Development Financial Institutions along with MDI’s or Minority Depository Institutions are built around solving these problems. Just like green energy initiatives or mixed income housing developments, CDFI’s and MDI’s are institutions that can be aided through well-designed policy that incentivizes their practice. By virtue of whom the institutions serve and what they can offer long-term, they justify themselves. As Dr. Brummer puts it in his announcement of the summit, “The gatherings will be central to conversations on racial empowerment and racial equity—and informing the capital’s conversation on financial technology more generally.”

The Central Bank’s Bank

As for the upcoming week’s theme of innovation, look no further than this year’s partner for the conference, the Bank for International Settlements (BIS). International banking has always been synonymous in the cultural mainstream with illegality; offshore dealings, tax-free bank accounts, and now cryptocurrencies have created a narrative of criminal mystique. The BIS, however, is the focal point for countering such trends, and as an international organization seeks to reward institutions whose goals involve global financial stability. The world has changed dramatically since the BIS was established in 1930, but its core tenants have proved more necessary for economic integrity than ever. By fostering communication between central banks around the world, organizations like BIS, just like Fintech Week itself, can inform better policymaking, information sharing and decisionmaking as authorities around the world grapple with a new digital economy.

A Year of Big Changes

A good turnout—and attention is always a safe bet with the conference. With each passing year fintech, which used to be the domain of hedge fund managers through labor saving applications, is quickly becoming a quintessential part of day-to-day life. Between the Gamestop boom and the subsequent rise of a meme-stock movement and many other events that toe the lines of economics and policy, there’s plenty to talk about in terms of innovation in 2021. Although no official itinerary is available just yet, it can be assured that meme stocks, gameification, and NFTs will be hot-botton topics this Fintech Week.

Despite almost two years of pandemic-powered economic downturn, the world of fintech is looking brighter all the time. While blockchain based technology has caused no small share of headaches for those who’ve made a career out of financial regulation, there’s no doubt that it among other new trends is poised to transform many parts of the financial ecosystem. And the Fintech Week conference offers everyday people the opportunity to get an advanced course in the field in just a week. All this and more are reasons to tune in when the 5th annual Fintech Week begins on October 18th, 2021.

To learn more about Dr. Chris Brummer’s research, click here. Listen to The Fintech Beat on Apple Podcasts or Spotify.

How To Completely Financially Recover After A Bad Road Accident

Financial Recovery

If you’ve been in an accident, you know that the recovery process will be much more difficult than just recovering physically. You’ll worry about medical expenses and how to financially recover from a bad road accident. But what do you need to know?  Since most motor vehicle accidents happen on the road, usually there are witnesses who saw the collision take place. This type of evidence is very valuable to have on hand when going up against insurance companies during settlement negotiations/court cases which determines the fault of the parties involved and order appropriate compensation.

Injuries sustained from a road accident can be very serious. In fact, the Centers for Disease Control and Prevention (CDC) has reported that motor vehicle accidents are among the leading causes of death in the United States. The CDC also reports that there were almost 5 million emergency department visits in 2011 alone due to injuries from a car crash. An alarming statistic is that more than 10 percent of those emergency room visits ended up being fatal, compared with only 3 percent from gun violence and 1.4% from natural disasters during the same year.

In order to help you recover financially after your accident, it would be good to understand how personal injury claims work as well as who typically pays for injuries sustained from an automobile collision. Usually, injured victims can recover damages from either their own insurance company or the other driver’s insurer.

Who Pays for Injuries Sustained in a Road Accident?

Who pays for injuries is something that varies depending on where you live and who was at fault for the accident. If you were injured as a result of an accident caused by another person, then it would be possible to hold them accountable for your personal injury claim. Here are some important tips to help you financially recover from a terrible road accident.

Save All Documentation Relating to Your Accident

It is critical for you to keep all records and documentation of the accident, including any medical treatment you received following your car accident. You should also make sure to save all repair or replacement bills for your vehicle if it was involved in the collision. Although the other driver’s insurer will pay for damages relating directly to your injuries, they are not required to pay for damage that occurred to your vehicle during the accident.

Undergo Appropriate Medical Treatment

This action is an important step in order to recover financially because you can only get compensation if you were hurt due to another person’s actions. Therefore, if you do not seek appropriate medical attention after an injury resulting from a road accident, you are severely limiting your chances of getting the compensation you need.

Find a Good Personal Injury Attorney

the next tip to help you financially recover from a road accident is to find an experienced personal injury lawyer in your area. If you live in Missouri, it is important for you to consult with a personal injury lawyer in St Louis to start filing your claim. If you’ve been in a car accident and someone else was responsible for it, then this type of legal professional can advocate on your behalf when negotiating with insurance companies about damages that were done during the collision. A good personal injury attorney will fight for all the money owed to you which includes payment for medical expenses, lost income, pain & suffering, and future lost wages. 

Negotiate with Insurance Companies

The next step would be to receive an offer from the insurance company that represents the person who caused your accident. This is called subrogation, which means that their insurer has now taken on their role in terms of negotiating compensation for injuries sustained due to another’s negligence. However, you are not required to accept this offer if you believe it does not compensate fully for your current and future damages. If you decline they may make one more offer or give up trying to settle with you altogether.  However, do keep in mind that there are time limits when negotiating a settlement with them so be sure to act quickly before they stop taking your claim seriously or pulling out altogether even if it seems low.

File a Personal Injury Claim

If you and the other driver’s insurer cannot come to an agreement, then it is time to file a personal injury claim and demand your damages be paid in full for what you deserve after your accident. However, since most people do not know how much their injuries are worth, there is no way to tell if this will result in the compensation that was promised or end up with you getting even less. To help avoid such situations, always try negotiating first before filing a personal injury claim as well as requesting estimates from medical professionals when they give them so you know exactly how much money you should be owed after your road accident.

Filing

Receive Your Settlement Money

Finally, after you have received your settlement money for your accident, it is up to you to use the funds properly in order to recover financially. If you are injured, then chances are that you have big medical expenses which need paying for right now. Therefore, save the remainder of the money only if there is anything leftover but do not spend it on unnecessary things or frivolous living expenses just because you can easily afford them now. 

Just continue with whatever financial plan was in place before your car collision and make sure any extra money is kept safe so one day you will be able to pay off all medical bills and get back some form of quality of life again after your injury. Make sure every cent goes to a good cause and you will eventually start to feel better about your situation. This is how to completely financially recover after a bad road accident, but do remember to ask questions and be thorough during the entire process so that you end up happy with the outcome in the end.

The Art of War as a Business Strategy

War as a Business Strategy

By David De Cremer

Competition and rivalry are considered a key aspect for effective, innovative and growing businesses to emerge. As Bill gates noted: “Whether it’s Google or Apple or free software, we’ve got some fantastic competitors and it keeps us on our toes.” In a way no one questions the need to have a competitive mindset when being in business. By having competition between companies, we believe that innovation will prosper and hence customers will benefit. For any company with a strong focus on customers, competition is thus a necessity in the business strategy that they adopt.

But, despite the many benefits that people see in business competition, the competitive aspect itself also can bring pressure and unintended negative consequences. As the former Australian tennis player, Rod Laver, once said: “The time your game is most vulnerable is when you’re ahead. Never let up.” Indeed, a negative consequence of competition is that it can put a lot of pressure on business executives and their companies. People may ruminate more about what could go wrong and how it would affect their future business developments, especially so when the company is leading or ahead of the pack. One such example of a business executive who worries a lot about surviving in an era of business competition is Huawei’s founder Ren Zhengfei (De Cremer, 2019). Huawei, founded in 1987 in Shenzhen, rose to the global leading spot in 2012 when it surpassed Ericsson, and since then experienced what it meant to transform from being a follower to becoming a leader in the industry (Tao, De Cremer, & 2017).

It is well-known that Huawei’s founder is very much aware of the fact that his company may die one day. He is so much aware of this outcome that he is occupied continuously with the question whether Huawei will survive. A famous story is that in times of crisis Ren Zhengfei will, without surprise, say that the fear of not surviving keeps him awake at night. But, even when times go well, Ren Zhengfei will still think about whether Huawei will survive. Survival as such has become an important part of the company’s DNA and this desire is always there, underlying every action and decision. For Huawei, competition has become fierce in the last few years, especially so since the US has portrayed the company as the poster child of the Chinese government. As a result, the company is directly impacted by the trade war that’s going on between the US and China as was illustrated by the decision in 2018 by Canada to arrest – because of a provisional US extradition request – Ren Zhengfei’s daughter, Meng Wanzhou. According to the US, in her role as CFO of the company, she violated US sanctions rules against Iran by letting Huawei do business with Skycom Tech – a company alleged to work closely with Iranian telecom firms.

According to the US, in her role as CFO of the company, she violated US sanctions rules against Iran by letting Huawei do business with Skycom Tech – a company alleged to work closely with Iranian telecom firms.

Given these events, it then also came as a surprise to many that Ren Zhengfei in a recent speech where he explained the need for the company to keep expanding outside China, uttered that Huawei still had much to learn from the US in terms of science and technology (Yujie, 2021). For many observers, the message was somewhat hard to believe, because isn’t the US the nation putting the most pressure on the company and constraining its abilities to do business at a global scale? So, why would he be so positive about the US. It’s war, there’s competition, why then show behaviours that indicate the company looks up to the US? These observations identify an interesting point to address, which is what war and competition actually means to the one leading the company that is under attack. Indeed, as it seems Ren Zhengfei has a specific connotation to what war entails and how competition and cooperation relate to each other.

First of all, it’s no secret that Ren Zhengfei always had a positive attitude towards Western knowledge in general and management insights that came from the US more specifically. In an interview with CNN, Ren already expressed his warm feelings towards the US when he noted that he likes how frank Americans are. Their ability of not being afraid to ask any question they want made him a fan of the US at an already young age. Even today, he stressed, he still considers the US a great nation. In several of those interviews, he has repeatedly said that he really gets US culture and really likes their take on how to manage a company. In fact, it is somewhat of a running joke that Huawei is actually a US-made company, because most of their strategy, leadership and management systems including human capital management originated from collaborations with US companies like IBM, Hay Group, PWC, Mercer Consulting and Accenture.

Second, and maybe most importantly, Ren Zhengfei, being somewhat of a philosopher, clearly read Sun Tzu’s master piece “The Art of War” very well. In this book, Sun Tzu outlines his view on military strategy and thinking and identifies the important principle that one should always be military prepared to maintain peace and social order. Looking at how Ren Zhengfei approaches the current war with the US, his focus is also clearly on being ready for the fight, but nevertheless trying to avoid it.

Huawei is indeed ready for the fight. The company has a strong belief that they can remain the biggest in the world. In fact, they believe that even if the US does not allow them to do business, they have many other customers to serve who want their products. Ren Zhengfei endorsed this point of view by stating that “the world cannot leave us because we are more advanced”. In line with this believe, it has been noted that Huawei has doubled its efforts in new business areas such as cloud services and smart cars (Chiu, 2021), whereas at the same time establishing many strategic partnerships with the major telecom players in Southeast Asia (De Cremer, 2020) and Africa (Nyabiage, 2021). So, Huawei does not seem to be too impressed by the US, exhibits confidence, and especially seems prepared to pick up the fight for survival.

Huawei does not seem to be too impressed by the US, exhibits confidence, and especially seems prepared to pick up the fight for survival.

At the same time, however, Huawei has clearly adopted the thinking of the “School of the Military”, which advocates being ready for the fight, to demonstrate your readiness, but have the goal to maintain harmony and peace. This thinking has been made popular by Sun Tzu’s book “The Art of the War”, in which one important wisdom is that “The greatest victory is that which requires no battle.” So, what is clear in the attitude and actions of Ren Zhengfei is that he’s prepared to continue fighting, but that he will avoid engaging or initiating the fight. In fact, he has recently noted that Huawei technologies must remain open and continue to grow in international markets. And, in that process of continuous striving for growth and openness, Huawei stresses the importance of learning from the US. According to Ren, the fact that the US is constraining Huawei in its growth, should not blind them to still recognize them as a teacher and learn how they work. If we don’t we will only isolate ourselves, he noted. Such open and welcoming approach to what many consider the enemy again fits well with Sun Tzu’s thinking, and especially so with the principle that “To know your enemy, you must become your enemy.”

It’s a common trait of wise leaders that when the “heat is on” and war seems eminent, the primary concern should be on preparing for a fight, but with the intention for the fight never to happen. Don’t show weakness (prepare), but don’t act as an aggressor (do not fight), seems to be the way to motivate Huawei’s workforce to keep going and at the same time being innovative in making the company grow. In times of crisis, leaders have an important responsibility to ensure that the company reduces uncertainty – and promoting confidence is one way – while at the same time always being on the look-out for opportunities that can remove the crisis element . As such, the main lesson from Sun Tzu – in light of Huawei’s current strategy – is that today’s leaders may need a sense of confidence combined with an agile and open mindset more than ever.

About the Author

David De Cremer

David De Cremer is a Provost’s chair and professor in management and organizations at NUS Business School, National University of Singapore. He is the founder and director of the Center on AI Technology for Humankind at NUS Business school. Before moving to NUS, he was the KPMG endowed chaired professor in management studies and current honorary fellow at Judge Business School, University of Cambridge. He is named one of the World’s top 30 management gurus and speakers in 2020 by the organization GlobalGurus, one of the “2021 Thinkers50 Radar list of 30 next generation business thinkers” (an annual ranking that the Financial Times deemed the “Oscars of Management Thinking”) and included in the World Top 2% of scientists (published in 2020). His latest book is “Leadership by algorithm: Who leads and who follows in the AI era?”

References

Top Steps to Becoming a Successful Financial Manager

Financial Management

Are you looking for the easy steps to becoming a thriving financial manager? If so, you have landed at the right place today! Here will share the basics and golden keys that will help you achieve your goals. 

So, don’t rush the process and keep reading. Well, becoming a financial manager is the most challenging professional track. The reason behind this is the pretty specialized nature of the sphere. It also starts from Creating and executing business plans, handling staff, monitoring cash flow, and playing along with the deals and salaries. 

Did you know what comes after your degree and professionalism? Well, it is all about the tools you utilize and makes everything flawless. Here we are pitching the things over the Salary Calculator – a crucial weapon for any financial manager. Below are the detailed steps that you should learn. Read on!

Understanding the Steps to Become a Successful Financial Manager

Now, it is time to jump into the section where success steps up into the world of the financial sphere. Today, we don’t want you to rush the process or go for any stretchy conversation. So, let’s dig deeper into each point and grab the level that you want to attain. Take a look!

First Learn Your Responsibilities as a Financial Manager

So, you have to learn what tasks and duties will be given to you when you jump into this field. These responsibilities typically include:

  • Making and performing business plans
  • Offering financial data
  • Controlling cash progress
  • Operating budgets
  • Handling staff
  • Creating financial projections & reports
  • Recounting financial transactions

If you notice, all the things revolve beyond cash and flow. It is very important to figure out what kind of duties you will perform. So that you can demand a better salary package. The manual calculation for the salary may have some uncertainty, simply use the salary calculator that calculates your salary in different ranges.

Know the Licensing & Certifications

Once in the sphere, financial managers should continually improve their skills via acknowledged licensing & certifications. Bear in mind that it will help in making rapid progress more possible. Getting a reliable public accountant’s credential is the most apparent symbol of this sphere. By making improvements to your skills you can get a good amount for your salary. You can estimate how much salary will be offered to you depending on your licensing & certification. Consider the salary calculator to do the instant salary calculations.

Develop Contacts & Keep Tracking

Did you know that experience is as valuable as formal training in starting a financial management career? Well, the answer is a big yes! It is a specialized field that revolves around investment management. Here, your hires have typically held some other jobs. Now, as a financial manager, you have to keep tracking their salaries and your income. And it needs to be accurately done. It might be a bit confusing sometimes for you to calculate how much you have earned. But no worries, you can easily calculate the salary instantly with the free assistance of an online salary calculator. Following this step can open many doors for you. And the ultimate step would be to develop the relationships needed.

Takeaway!

The profession of a financial manager revolves around some challenging responsibilities. However, these duties demand accuracy. If you are not appropriately performing your duties, it might be possible for the owner of your place to cut down your salary. You can estimate your salary based on how much money you have earned by using a free online salary calculator. We hope that the steps we mentioned in this post will help you know the mistakes you may make in the management process. Best of luck with your career!

U.S. Money Reserve Reviews the Benefits of Gold in the Internet Age

Gold in the Digital Age

Though we access our money and complete financial transactions every day, using physical cash has become less common as our modern financial system increases its reliance on digital technologies and the internet. This shift has enabled quicker and broader access to funds and platforms on and through which to spend, but such technology also has downsides. To increase awareness of this issue, U.S. Money Reserve highlights some potential issues that may result from dependence on digital finance technologies.

The Growing Lack of Reliance on Physical Money

Since the introduction of digital transactions, physical currency has become less utilized for larger transactions. The usage of digital transactions has expanded along with the emergence of cloud-based technologies and online banking, which allow individuals to remotely access funds and credit lines. In a 2019 poll conducted by U.S. Bank, about 3 in 10 adults say they make no cash purchases in an average week, and those who do carry cash tend to carry less than $50 at a time.

In lieu of cash, consumers have turned to digital means of payment for goods and services. Credit and debit cards, for example, have become primary connections to account holders’ funds. While many may think of these cards as equivalent to paper currency, this is simply not accurate. Credit and debit cards rely on energy grids and communication infrastructures to function. If a power or network disruption occurs, these cards could be rendered temporarily useless. The same thing can happen to ATMs. Though they can provide ready access to physical currency and personal funds, they require power and network access to function, so they may not always be available should something happen beyond an individual’s control.

A Major Issue with Digital Finances

Digital fund access can be both a benefit and a hinderance to personal finances. It can provide flexibility and accessibility, enabling commerce when electricity and infrastructure are reliable, but it only takes one major outage to separate millions of people from access to their funds. In the event of a natural disaster, for example, access to currency and payment options may be critical—but without power, that access may become temporarily limited or even nonexistent.

Digital financial systems have also been targeted by malicious third parties in ways that physical currency cannot be. This is increasingly true as cryptocurrencies and other new digital assets become more prevalent. In the hands of a competent hacker, digital asset systems become potential weaknesses in the overall financial system.

The Rise of Internet-Based Financial Crime

More than just cryptocurrencies are at risk of malicious internet activity. Scams designed to convince (or trick) individuals into disclosing personal information and thus providing access to their digital funds are becoming increasingly common. Though many of these attempts are fruitless, it only takes one successful attack to permanently drain the funds from a victim’s bank account or run up a massive credit card balance. Not only can this severely set back a person’s financial prospects, but it can also permanently hinder their ability to make payments and gain new lines of credit.

Benefits of Gold in a Digital Age

Unlike digital assets, gold’s physicality is readily apparent. Gold’s tangible nature provides its owners with immediate access regardless of the time of day or day of the week.

Gold can also be secured by means unavailable to digital assets. Digital currencies may rely on cryptography that can make them vulnerable to potential cyberattacks. Conversely, gold can be secured in a safe or other physical enclosure. This can lend peace of mind to the owner, and that assurance has helped gold receive increased attention as a viable store of wealth in an otherwise digital age.

About U.S. Money Reserve, America’s Gold Authority®


U.S. Money Reserve is one of the nation’s largest private distributors of government-issued gold, silver, platinum, and palladium products.

Founded in 2001, U.S. Money Reserve has grown into one of the world’s largest private distributors of U.S. and foreign government-issued gold, silver, platinum, and palladium legal-tender products. Hundreds of thousands of clients across the country rely on U.S. Money Reserve to diversify their assets with physical precious metals, primarily in the form of legal-tender gold and silver coins.

U.S. Money Reserve’s uniquely trained team includes coin research and numismatic professionals equipped with the market knowledge to find products for precious metals buyers at every level. U.S. Money Reserve goes above the industry standard to provide superior customer service, with the goal of establishing a long-term relationship with each and every one of its customers. U.S. Money Reserve is based in Austin, Texas. Like them on Facebook, connect on LinkedIn, and follow on Twitter.

How to Get Preapproved for a Mortgage

Realtor

Preapproval is the first procedure you should look into when planning to apply for a mortgage. It is a process wherein a mortgage company assesses your capabilities to qualify for one. The mortgage lenders will thoroughly look into how much you really can afford and determine how much money you are qualified to borrow to acquire a home. This process will include checking your assets, income, credit scores, and history.

It is everyone’s dream to have their own home, a place where they can have a sense of ownership. Thus, if you really aim to have one, you should really work on some important things to get preapproved for a mortgage. To further assist you, here are some tips that you should consider. 

1. Do not focus on one lender

Wherever you live, there are probably lots of mortgage companies in the vicinity. You’ll surely have a lot of options to choose from. The trick is, do not limit yourself in focusing on one lender, do your research and explore until you can make a list of choices. 

Better yet, hire a mortgage broker to ensure that you have great and reasonable deals. It’s a good move to hire a broker, regardless of what country you’re in. That’s because they know the local laws and the people who can help you get the property you want. Let’s say you’re buying a home in Canada. Mortgage brokers in the area, like Spear Mortgage, already have a network of lenders, and they can lead you to those that can offer the most agreeable terms. 

2. Check your credit score

Credit scores play a vital role when planning to apply for a mortgage. It is one of every company’s main basis to assess if you do qualify for one. Thus, before you apply for a mortgage, make sure that you have checked your credit score and ensure that it is good enough to be qualified. Most likely, a score of at least 620 is the most ideal to be able to qualify for better rates. If you can manage to go higher than that, the better options you can acquire. 

3. Organize your credit history

Another important factor is your credit history. Make sure to prepare all the files that include copies of your credit reports so you can still have time to double-check if there are any errors or disputes in your file. This is very important as a single issue found on your credit history might cause a problem for your application. Do this as early as possible so you can still work out with your creditors if there are issues on your file. 

4. Prepare the necessary and other required files

Aside from your credit history files, there are other essential information to prepare. This includes income information, financial information, and of course, your personal information. This information will be asked frequently during your application. Thus, it’s very important that you have them with you always. Here are the following files and information to be prepared: Socia Security Number, Employment Details, Current Addresses, Bank and Investment Account Information, and your Proof of Income. 

Final Words

You will really need to follow and undergo a certain process to get preapproved, but it’s all for your own benefit. This process will truly help you reach a mortgage company that’s best for you and fits your capabilities. 

Ways to Save Money on Your Mortgage

Mortgage

It is a truth universally acknowledged, that unfortunately house prices are rising. And it looks like they will continue to rise for the foreseeable future, so is the predicament we’re in. With this in mind, knowing a few moves in order to gain a bigger mortgage. If you’re thinking about buying a home, there are things you can do to convince your bank or lender that you deserve more borrowing power. Read on to see our strategies for getting a bigger mortgage. 

Show any additional income

If you have any proof of additional income, it can go a long way to getting you a bigger loan, since you are proving you can repay them. But before you go storming into the boss’s office for a raise or to quit for a higher paying job, calm down. These tactics can be helpful, but if you don’t fancy that, there are other things that are considered additional income. 

You can show proof of interest or dividends from investments, income from rental properties, alimony or child support, social security income and money earned from a part-time job or a side business. These are all considered reliable income; however, the latter comes with the stipulation that you have to have earned enough from your job or side business for over the past two years. Just make sure to give all this information to your mortgage broker Brisbane in the most organized manner possible.

Pay off any debt

Any debt clogging up your account will hinder the size of the loan you’re looking for. When you apply for a mortgage, a lender will look at your debt-to-income (or DTI) ratio, which is the percentage of your monthly income that you are dedicating to your minimum monthly debt payments. A DTI ratio of less than 36 per cent is usually considered ideal but some lenders are comfortable with going higher. Without debt, lenders will be more comfortable lending you, knowing that you can repay and that you haven’t got other loan priorities.

Credit card debt or an installment loan getting paid off can make a big difference in your DTI figure. If you have the money handy it can be a quick and easy way to increase how much of a mortgage you qualify for. If you can’t pay it all off in one go, you can reduce it with a balance transfer card or you can refinance an auto loan to lower your payments. There is also the option of consolidating your debt into an installment loan. 

Raise your credit score

A slightly larger loan can be obtained with a lower interest rate, and you can get a lower interest rate by getting a higher credit score – but only to a certain extent. 

There are a number of ways to raise your credit score. Check your credit reports and stay on top of your payments. Avoid applying for new accounts if you can. These can all help you in raising your credit score. There are also self-reporting mobile apps you can take advantage of like Experian Boost and UltraFICO. You should add accounts with positive payment history to the app, boosting your score.

Put down at least 20 per cent

Most banks and lenders will add private mortgage insurance (or PMI) to your loan, which you can bypass to get a bigger loan with a large enough down payment. PMI protects the lender if you stop paying your loan. 

So, if you’re applying for a home loan like a DBS Housing Loan and your down payment is over 20 per cent of the house’s price, the PMI will be waived and you won’t need to pay it. Without at least 20 per cent in down payment, the PMI will become part of your monthly costs and will decrease the size of the loan available to you. If you have the cash after your 20 per cent, you can pay a little more to your lender to lower the rate of your interest which will help with monthly repayments.

Add a co-borrower

One thing that can go a long way to convincing a lender that you deserve a bigger loan is a co-borrower. A co-borrower with strong credit and a steady income will reassure the lender that there are various incomes contributing to the mortgage and therefore a backup if something were to fall through. You and your co-borrower’s income will increase the total income that a lender can use to qualify you for a loan. 

Co-borrowers can be spouses, domestic partners, friends, or relatives, but they should all be warned it is not just a name on a piece of paper, but a financial agreement. It is for people of both parties to get their name on a property and to agree that they will share the responsibilities of paying back the loan.

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