Short-Term Financing Tips

Series Summary

Don't be broke at the end of every pay period. Many people's paychecks are spent before they even get to the bank. More than half of America's work force is spending more than they make. And the problem is, they aren't blowing it all on foie gras and designer shoes, yet they feel like they can never get ahead. Aside from trying to convince their boss to double their salary, is there a solution to the exhausting psychological effects of barely scraping by, month after month, year after year? Tracking your expenses and creating a personal financial budget is a great place to start. In this series of free online videos get expert advice on creating a budget for personal finances. Once people figure out where the money's going it will be easier to get spending under control. Learn how to divide your spending into distinctive categories, like housing, utilities, food, medical expenses, transportation and more. Once you've defined what type of spender you are, you can analyze cash flow, and create and maintain a budget and stick to it. While none of these free videos will help you earn more, the advice they offer should help you spend your money more wisely.

Video Transcript

"This is financial adviser Patrick Munro talking about how short term financing works. Normally if someone has a project that requires financial intervention on behalf of a financial institution, such as building a house or starting a business or whatever the case may be, they set a time line for the financing. There short term, mid term, and long term financing. Today we are talking about short term financing and what that is, is where you work with a financial institution and set up a short term, either thirty days, sixty days, perhaps ninety days or even six months to a year and the financial institution will advance you money for the project which has an end in sight, which would be the completion of the project. At that time permanent financing would come in to take away the temporary financing and you'd have a long term relationship with that asset. It's always short term financing that comes first in a project and it is very key in the area of wealth management to have access to those funds. This is Patrick Munro talking about the benefits of short term financing."