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There are many reasons why a business, whether old or new, may need to borrow. They may need liquid cash to make it through seasonally slow periods, or they may be getting so much business that they need to purchase extra inventory in order to keep up with demand. They may want to relocate, or purchase a second location.
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Forty Under 40 Mover and Shaker awards are presented each year to a select group of individuals who have demonstrated both significant community involvement and business excellence. Forty awards may seem like a lot, but so many distinguished professionals from the area are nominated by their colleagues each year, that being selected as one of the final honorees is a great accomplishment. This year I had the honor of receiving one of these awards.
Teaching our children how to budget money today is very different than it was 30 years ago. When I was little, my mom put cash on the kitchen table and separated it into simplified piles: one pile for the house payment, one for the electric and cable bills, one for food, one to save, and then one final pile for what was leftover. This would be the pile we could use for a special activity like going to the movies or maybe a new pair of sneakers we wanted. It was easy to see and understand. We were always told cash was king!
Are you looking to buy a car? Are you getting confused by all of the shorthand vocabulary being thrown around, and all the fine print? You aren’t alone.
I often answer questions about many of these tricky details so I thought maybe it was a good time to spell things out.
I’m always out and about in public and often get recognized as “the face” of Rhinebeck Bank’s weekly talk show, “Wake Up with Rhinebeck Bank.” The show features community leaders, business owners, and heads of local non-profits, while sharing information that educates the public about our local area and banking.
Once we get past the, “HEY! You’re the person on that show” moment they usually want to learn more about the Bank. The one thing people always want to know is: Why should I bank at Rhinebeck Bank? Here’s what I tell them:
When searching common interview questions, one that often appears is the question “What motivates you”? Articles suggest be honest but keep your audience in mind. That’s good advice because you are on an interview, often making a first impression and ultimately (probably) want the job for which you are interviewing. Some suggested answers are “I am motivated by… the desire to meet a deadline, mentoring others, learning new things”. These are acceptable answers, but don’t really say much. You need to be able to drill down to the real motivation behind the superficial answers.
Everyone struggles with saving money and budgeting to their lifestyles. It is important to know that anyone can successfully get back on track and become financially stable. This may not come easy to some, but there are several tips and tricks you can utilize that will help you start saving money today!
First I would like to start by discussing some of the basics that some of us are already aware of, or have heard before. These are essential to understanding your personal finances.
The recent passing of the tax reform bill has caused an incredible amount of scrutiny and opinion towards the effects it will have on home ownership. It is during times like these that we need to examine the facts of the new plan, and then reflect on the main benefit of home ownership and the reasons we buy a home.
Let’s start with the facts. In relation to real estate lending and home ownership, there are three main changes to the tax plan to consider:
When January 1st comes around each year, most people try to think of at least one thing they want to improve in the coming year. For many, the resolution is about their health, whether it’s to lose weight, eat healthier, exercise more, or maybe even quit smoking. Experts say that one of the best ways to achieve your New Year’s goals is to start small. Breaking your goals into manageable milestones helps to build the desired habit and eventually that habit becomes a way of life. These milestones also act as small achievements, helping you stay motivated.
We are often asked about GAP insurance: what is it, what does it cover, do I need it? GAP insurance is a product that covers you for the difference between what your insurance company may pay the bank in the event of a total loss and the balance you owe the bank on a car loan. For example, if you owe the bank $20,000.00 and you total your car, if the insurance company pays $17,000.00 based on the retail value of your car, you are “upside down” by $3,000.00. Even if you pay your deductible of $500.00, you still need to pay $2,500.00 for the deficiency or the “GAP” between what the insurance company has agreed to pay and what you owe. Scenarios like this are quite common these days and in many cases, we see deficiency amounts much higher due to people financing for longer terms, as well as the depreciation of vehicles, etc.
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