When you look at the different kinds of software for credit unions, you will start to see how the evolution of software has made it easier than ever for credit unions to get on board with online customer service. In order to survive in this competitive financial world, credit unions must learn good online document management skills and become interfaced with the Internet.

1 – Improve Member Access

Credit unions call each of their clients’ “members”. Each person that takes part in a credit union becomes a part owner of it. And, when you have a list of owners to answer to, your customer service better be top notch.

By streamlining document management and allowing members to access information they need on a regular basis, credit unions can significantly improve their level of customer service. A document management system will protect sensitive and confidential information, while still providing members the information they need, when they need it.

2- Improve Cost Effectiveness

Even though credit unions offer superior customer service to conventional banks in many ways, the financial industry is still extremely competitive. The idea of taking up several large rooms in a building for file cabinets of documents that credit union employees have to go through by hand is extremely wasteful.

When a credit union institutes an effective online document management system, it eliminates all of the waste that comes with paper filing. That waste includes the paper, the lost office space, the cost of the cabinets and the hours it takes employees to go through the files. With a streamlined document management system, credit unions can become much more cost effective and stay competitive with the services offered by conventional banks.

3 – Improve Growth Planning

Credit unions are becoming more popular than ever, and the growth of credit unions has spurred a critical need for efficiency and growth planning.

When a credit union has an effective document management system in place, it can plan its growth with more scrutiny. The office space that would have been used for filing cabinets can now be used for more loan officers or other profit centers. With document management on its side, a credit union can grow however it sees fit.

Document management is a crucial part of credit union’s business process. To survive in this competitive financial climate, using innovative online solutions for managing documents will help credit unions provide optimal service to their customers, streamline tedious document management processes and reduce cost and human error by a significant degree. In today’s arms race of innovation, maintaining the status quo will keep you afloat, but being ahead of the game is what will make your business exceptional.

©2012 BUY LIKE BUFFETT. All Rights Reserved.

BUY LIKE BUFFETT - Make Money Investing The Warren Buffett Way

That group is the average consumer . Over the past thirty years, no matter how much money an individual has made  there has been a failure to teach financial management. There are horror stories everyday of middle class people and wealthy celebrities that have declared bankruptcy and lost their entire fortunes because of too much debt. The problem in America is that people are not taught to save money and manage their financial resources properly. We are always taught that we need to make more money but are never taught to curtail our spending. So, the more money that we make, the more things that we buy.

Most people that were hoping to hit the $500 million dollars jackpot a few weeks ago wanted the money because it would allow them to buy everything they wanted. They could buy a bigger house, a better car, expensive jewelry, furniture, newer electronic gadgets, and anything else that their heart desired. We are taught that the only reason that you go to college is to make more money and that you need to make more money so you can spend more money. This is why so many Americans are in dire financial straits. It is time for everyone to learn the principles of financial management. We should start with the younger generation. Financial management should be taught at school, church, home, and other institutions.

The basic rule of finance that needs to be taught to everyone is to Live within their means. Buying on credit is not a necessity and should not become a traditional way of life. Overspending is a major problem for too many people. We need to teach that credit is something to only be used in emergency situations and is not to be relied on. This requires teaching patience and teaching individuals to know the difference between a must have purchase and one that can wait. No matter how bad you may want an iPad, new cell phone, Samsung TV, BMW, or trip to Italy; those are not necessities.

I believe that if people learned proper financial management principles at an earlier age, they would be a lot happier. They would spend less time working to pay off creditors and would have more time to enjoy their lives. They would be able to retire at an earlier age, stop saddling their children with extra debt, and decrease their stress levels.

©2012 BUY LIKE BUFFETT. All Rights Reserved.

BUY LIKE BUFFETT - Make Money Investing The Warren Buffett Way

Hewlett Packard

Hewlett Packard has been one of the biggest laggards since the Dow Jones has had its surge. The technology giant has seen its shares remain stagnant despite the Dow going past 13,000. Hewlett Packard has undergone a number of changes over the past year with the company replacing its CEO and changing its business strategy. It looks like that the turnaround at Hewlett Packard is taking a bit longer than impatient investors expected.

Sony

Sony has seen better day. Sony used to be known for creating cutting edge products from its televisions to its VAIO computers. Well, Sony’s reputation has taken a big hit in recent years. Earnings have plummeted and Sony is awash in red ink. The company is expected to lose more than $2.60 a share this year alone. The only thing that keeps Sony investors in there is the company’s $17 billion dollar cash hoard.

Yahoo

There is still no fundamental reason to invest in Yahoo. The stock may be cheap but it is still a speculative play. Yahoo’s biggest problem is that the company just does not seem to know what it is. The company does not know if it wants to compete in the search engine space or focus all of its energy on the media market. Yahoo is going through a reorganization once again.

Research In Motion

It doesn’t seem that long ago that the Blackberry was a serious threat to the iPhone. Now the two devices are no longer even on the same playing field. The Apple iPhone has become a mainstay in the lifestyle of consumers while the Blackberry has become an afterthought. Research in Motion’s share price shows exactly how much the cell phone maker has fallen.

©2012 BUY LIKE BUFFETT. All Rights Reserved.

BUY LIKE BUFFETT - Make Money Investing The Warren Buffett Way

ETFs can slice up stock indices in several different ways; for instance, there are low volatility ETFs, high-gain ETFs and growth- or value- oriented ETFs. Because ETFs are so versatile yet ultimately inexpensive and uncomplicated, many beginning traders choose them for their first investments.

Of course, there are several things to keep in mind before investing in ETFs. Like any investment, ETF trading takes a certain level of skill, understanding and wisdom if you want to make money. Read on for the five most crucial things you need to know.

1. Buy and Sell the News – Markets change depending on news stories or releases of economic data. You should be aware of the events in the world and buy or sell your ETFs accordingly. For instance, if you invest in oil-related ETFs, look for news stories about Middle East turmoil or rising industrial growth to buy, and look to recessionary trends or new oil field discoveries to sell.

2. Pay Attention to the Details – One common concern for ETF investors is how one ETF may trade in the same industry as another but do better or worse. This occurs because ETFs are weighted differently. Some are geared toward looking at the whole industry, while others focus on high-volatility stocks to increase the chance of high gains. Read everything you can about an ETF before investing.

3. Buy Popular ETFs For Better Prices - The more often an ETF trades, the narrower your bid-ask spread will be and the less money will be taken out of your trading profits. If you truly believe in a particular ETF is worth spending extra money on, then do so, but calculate the bid/ask spread before making the purchase so you can see how much the fund has to rise to be profitable.

4. Consider Bonds in Addition to Stocks – There are as many bond derivative ETFs are there are stock-based funds. Before ETFs, you had to buy bonds one by one, and if a company or municipal organization defaulted, you would lose your entire investment. ETFs allow you to affordably invest in dozens of different bonds at once, so even if one or two default, you will still receive your interest payout from the others. Bonds are considered more conservative and reliable than stocks, making their ETFs correspondingly safer.

5. Understand Taxes and ETFs - ETFs are subject to varying capital gains taxes. For instance, municipal bond ETFs provide tax-free returns, while some commodity ETFs are set up as partnerships between investors, making the tax that much greater. Do your research to figure out your tax liabilities before you buy.

Whether you are a beginning investor with time on your hands or whether you oversee a financial services company and need to improve your talent management process with performance review software by Halogen, implementing ETF trading strategies may be the way to go.

Try it out today!

Image Source: Forbes

©2012 BUY LIKE BUFFETT. All Rights Reserved.

BUY LIKE BUFFETT - Make Money Investing The Warren Buffett Way

Apple (AAPL) recently surged through the $600 price level. This is a development that was completely unexpected to me. I thought Apple was good company with lots of great products but I never thought that the stock would surge like this in the near term. Shares are up $200 over the past three months. The impetus has been the great sales numbers for the iPad, iPhone, and iMac. Apple now has a market share of $560 billion dollars and some analysts are predicting 1 trillion dollars.

Apple has taken down Exxon Mobil (XOM) for the title of the largest publicly owned company in the United States. That is saying something considering the size of Exxon and the fact that the oil conglomerate has held the title for years. The growing size of Apple is a clear sign of the impact that technology has had on the global landscape.

My primary concern about Apple was over the long term growth drivers for the stock. I am always leery of companies that have fantastic growth patterns and that every analyst has a buy rating on. It looks like however that over the short term that Apple has been able to overcome any doubts and has continued to outperform. I will not bet against Apple again as the company has proven to be a stalwart.

What do you think that Apple will do in the coming years? Will the stock keep heading upward or is it due for a pullback?

©2012 BUY LIKE BUFFETT. All Rights Reserved.

BUY LIKE BUFFETT - Make Money Investing The Warren Buffett Way

Source: Goldline.com

You were probably surprised to learn that China outproduces the United States in terms of gold production and by a significant margin. China is quickly climbing the list in terms of both production and storage. The American advantage in gold holdings is substantial with the United States holding almost as much gold as Germany, Italy, and the International Monetary Fund combined.

Gold is closing in on $1,800 an ounce and could take out the $2,000 level. Gold buying has not been sparked by economic uncertainty as the United States economy appears to be improving. The increase in gold buying seems to be coming from the increased investor appetite in metal related exchange traded funds. Gold seems to be becoming a core holding in portfolios with investors owning as much as 10%. Add in the fact that a number of short term traders are holding the metal and you can see why gold ownership is growing.

Even with the high price of gold, fund managers and analysts are expecting higher prices. Gold is not the only metal that is rising rapidly. Silver and copper have also been on a nice multiyear run. Investors looking for access to the metals sector can purchase the physical asset itself, exchange traded funds, individual stocks, or a traditional mutual fund.

Photo by: digitalmoneyworld

©2012 BUY LIKE BUFFETT. All Rights Reserved.

BUY LIKE BUFFETT - Make Money Investing The Warren Buffett Way

Don’t skip the home inspection

Designed to identify serious problems and areas of concern, home inspections are required by most mortgage lenders. Even if your lender doesn’t require a home inspection, it’s well worth the additional cost to avoid unforeseen problems after closing.

Don’t finance any large purchases

Lenders may be wary of individuals and couples who appear to be taking on too much debt at one time. By delaying the purchase of vehicles, boats and other major items until after the mortgage application has been approved, you can increase the chance of snagging a lower interest rate.

Don’t make too many changes

Job changes, switching to self-employed status and frequent changes in place of residence should be avoided in the months leading up to the mortgage application. Sudden changes in financial status, location and income can create questions about your overall reliability and may result in higher interest rates. Even switching banking institutions may raise red flags, so try to remain consistent during the period preceding your mortgage application.

Don’t charge it

By keeping a large available balance on your credit card accounts, you can achieve a better debt-to-credit ratio that can significantly reduce the interest rate mortgage lenders are willing to offer you. Additionally, the added flexibility will prove useful after closing when unexpected expenses are nearly certain to arise.

Don’t overestimate future income

When deciding on a price range for your new home, it is tempting to assume that you will make significantly more money in the future and will be able to afford larger payments at that time. As recent economic events have proven, however, this is not a safe assumption. Making a conservative estimate of financial resources and basing your decision on current income levels rather than projected future income can ensure that you buy the house you can really afford now and in years to come.

Don’t overlook added costs of home ownership

Don’t forget to set aside funds for home repairs, exterior maintenance, insurance and property taxes. While home insurance and property taxes can sometimes be included in the monthly mortgage payment, starting and maintaining a savings fund for household emergencies can save new homeowners a great deal of stress and worry.

Don’t try to go it alone

Finding the right real estate agent can be challenging, but in many cases these knowledgeable experts can provide valuable information on school districts, neighborhoods and general market data that can save you time and money when looking for your new home.

While every home buying process is different, these general rules of thumb will help make your experience less stressful while ensuring that you get the right loan at the right interest rate for your new home.

Photo by: imboiliaria

©2012 BUY LIKE BUFFETT. All Rights Reserved.

BUY LIKE BUFFETT - Make Money Investing The Warren Buffett Way

Time To Sell Stocks

I don’t think that the market is overbought but I do not think that investors should be putting fresh powder to work in this market. The market is not full of the deeply discounted values that existed just a year or two ago. You have to be really selective about what you buy right now since the market run up has been so wide. If you have a big gain in a stock that you have been holding for awhile, now might be the time to trim your position a little bit and take some profits. Remember the old Jim Cramer saying, “bears make money, bulls make money, pigs get slaughtered”.

I am not looking for a big crash like the one in late 2008 and early 2009 but I do expect a pullback. Remember that markets do not always behave rationally. When euphoria is running high, the market has a way of tempering expectations. There are still headwinds in the United States economy. Although unemployment rate is dropping, the labor market is still way below normal levels. The government could also step in and mess up the market rally with excessive deficit reduction and continued squabbling in Washington. Right now however, the economic recovery is taking place and slow to moderate growth should be appreciated.

While I would not run out and dump all of my stocks now, I would not be buying across the board either at the current time.

©2012 BUY LIKE BUFFETT. All Rights Reserved.

BUY LIKE BUFFETT - Make Money Investing The Warren Buffett Way

Before you ever go out looking for a house, you should consider getting pre-approved for a mortgage with a lender. For this part of the process, you may want to shop around between multiple lenders so that you can make sure you will get the best deal. Talk to mortgage lenders if your local area and check on the Internet with online lenders. Once you find a lender to work with, you’ll need to fill out a mortgage application.

On the mortgage application, you will provide basic information like your name, address, employer and income. The lender will also ask for verification of this information. This could come in the form of pay stubs from your employer, bank statements or tax records. Once the lender checks your credit history and verifies that you make enough money, you can be pre-approved for a certain amount of money.

After getting pre-approved, you may wish to hire a real estate agent. When you work with a buyer’s agent, the agent can show you houses that are for sale which meet your criteria. The agent can then take you around to houses that you may be interested in and you can visit them in person. You will not have to pay the agent anything on the front end for this type of service. The agent is paid a commission when the house is sold. The commission is typically split between the buyer’s and seller’s agents.

If you find a house that you like, you’ll then need to make an offer on it. The seller of the house then have the chance to accept or reject the offer. The seller can also make a counteroffer once you’ve made your initial offer. If your offer is accepted, you will enter into a contract to buy the house from the seller. You’ll typically be required to put up some earnest money so that the seller knows you are serious about purchasing. During this phase, a closing date will be set by you and the seller.

Once you have a real estate contract and a closing date, you will then go back to your lender and begin the process of getting the mortgage. Since you have already been pre-approved, this should not take much time. You will let the lender know the amount needed and where the closing will take place. In some cases, the closing will take place at a local title office or with a real estate attorney.

When the closing date arrives, you, the seller and the closing agent will all meet in person. The closing agent will have the appropriate documentation for your mortgage and the real estate contract. You will also have to have some kind of proof that you have a household insurance policy to cover any damage to the property. You will then be required to sign several documents. The seller will sign the closing papers and the deed to the property. This will convey ownership of the property to you once the closing is finalized.

After all of the papers have been signed, you’ll be left with the house and a mortgage. The seller will then be left with the money left over after paying off his own mortgage, if any remained on the house. At that point, you should be able to take possession of the family house and move in. In some cases, the contract may stipulate that the seller still has a little bit of time to move out of the property, but this does not always happen.

©2012 BUY LIKE BUFFETT. All Rights Reserved.

BUY LIKE BUFFETT - Make Money Investing The Warren Buffett Way

In the United Kingdom income and gains tax is charged at a rate of 20 per cent when your UK-based life insurance investment matures or is cashed in by you the policy holder. this tax is taken from the policy before it is paid out. Capital gains are taxed at a maximum of 15% in the United States. Your descendants pay an inheritance tax at a rate of 40% on your life insurance policy if you are over the government regulated threshold. This year the limit for exemption is £325,000, but as of 2007 married couples and registered civil partners can increase the threshold on their estate when the second partner dies to as much as £650,000. If you write your policy ‘in trust’ then the person specified in the policy will not pay inheritance tax on the ‘sum assured’, as the pay-out is omitted from the total estate calculation.

There are a number of different types of policies that are available, including investment policies, which are generally charged at a higher rate but will have a higher maturation amount. These policies although called investment policies should not be regarded as an investment for yourself unless you choose to cash in the policy early in which case you will pay capital gains tax on the amount. With hundreds of policies on the market you should look at comparison sites like MoneySupermarket before you make payments or decide on a policy. With a number of Americans abroad it is essential that they familiarise themselves with laws and financial systems before they agree to policies.

©2012 BUY LIKE BUFFETT. All Rights Reserved.

BUY LIKE BUFFETT - Make Money Investing The Warren Buffett Way