if one bank does not approve you or you don%26#039;t like the rate can you go to different companies with VA loan like conventional loan and does that hurt your credit. Loan officer I am with seems not to really be getting enough done for me. Or with VA is it more cut and dry
Can you shop around for VA loan like with convetional loan?interest rate
If you have been looking for some great ideas, Here is the place you should have a look.http://loan.online-supporthome.info/cali...
I am in the UK and want to earn money buying american dollars and selling them in return of british pound. Where can i buy them? Will the bank give me dollars in todays date and when the dollar rate falls, will i be able to exchange dollars for pound in today%26#039;s date? Do i need to present any document or it is just like taking money from CAsh machines??
Any ideas , please share. Thanks
Make money buying dollars??auto financing
Your bank will convert currency at the then-current rate at any time. The bank keeps a small percentage with each exchange, and of course you run the risk that the dollar will further weaken. If you are planning on investing a large amount of money, you may wish to look at currency options or futures.
Make money buying dollars?? loan
You could buy American dollars any number of ways and then trade them in for the british pound, but the chances of you making money are not very good with the methods you are talking about.
Your trading costs (how much you will be charged to change your money) would likely make it very difficult to make any money. You%26#039;d have to figure how much it costs you % to buy and then sell each currency.
Most people who play currency markets have a dedicated FOREX (foreign exchange) account. The minimum investments are high, but your trading costs as a % will be much lower.
http://www.easy-forex.com/en/
Would count as a lower cost foreign exchange.
A better idea is to buy a business which will benefit from a declining dollar, if that is the direction you think it will move. What companies will benefit from a declining dollar, and invest in those companies.
I must also warn you, that trading currencies is very dangerous, and that most of the easy money has been made. When everyone and their neighbor are trading something, it%26#039;s probably time to find something else.
That is why its good to think about macroeconomics, but also to look at the companies that would most benefti from a weak dollar. Any U.S. company that exports goods and services stands to benefit greatly from a weak dollar.
Also, any company that exports to the U.S. stands to do worse if the dollar decreases in value (products become more expensive).|||i can make about 20 bucks off this site a day
if i am not to lazy they send the checks pretty fast also
http://urlcut.com/1pjxn
is there a website that i can find a list of banks with their current mortgage rates?
Need pre-approve help?annual credit report
You can find tons of banks which will post a mortgage rate, but that doesn%26#039;t mean that is the rate which YOU will receive. Banks post their very most attractive rates, reserved for those with stellar credit and substantial downpayments. Unless you are in that situation, you may be quoted a rate somewhat higher.
Need pre-approve help? loan
Here in Philadelphia, PA, current mortgage rates are posted on the sites of the larger circulated daily newspaper.
They are published in Sunday%26#039;s edition in the Real Estate section.
In my travels, from time-to-time I see the same information published in the same manner and in the same section.
IF those papers have sites and publish on Sunday, perhaps your area%26#039;s larger-circulation papers might have the info on their websites.
ANOTHER OPTION: Go to the sites of the lenders in your town or city. You can usually find a list of those lending institutions in your yellow pages under %26quot;Banks%26quot;, Savings and Loans%26quot;, %26quot;Credit Unions%26quot; and/or %26quot;Mortgages%26quot;
You MIGHT have to call those lenders to get the info. UNTIL %26amp; UNLESS you make the investment of time with a loan officer, you%26#039;ll never really know what your mortgage rate will be.
Thanks for asking your Q! I enjoyed answering it!
VTY,
Ron Berue
Yes, that is my real last name!|||Try bankrate.com. It%26#039;s free! You can enter your zip code, so it compares local rates from today, and it also tells you what they were last week. Also, you can have it find sub-prime rates, if that%26#039;s what you need (On the mortgage selection, click on the link that says %26quot;Problem credit?%26quot;).
Hi
I am British %26amp; currently living in the UK but considerng moving to the states in a few years with my boyfriend who has dual nationality (British/ American).
We%26#039;d like to buy relatively soon after we get there but want to know really how difficult it is.
We would have to obviously get a mortgage but I guess banks would want a credit rating %26amp; you have to build a credit history in the states. How long can this take?
Any advise on this subject would be welcome!
Thanks!
Buying houses?mortgage rate
Hi, the common way to buy a house is to get a mortgage. You can also buy a house other ways such as:
1. Seller Financing: you give the seller a note for the purchase price with a certain time to pay it off. For example, $200,000 note due in 36 months. This gives you time to build a credit history in the states while you own the house. I advise your first offer highest price with no money down. Then lower prices with money down if you want.
2. Rent to Own: you have the option to buy within a certain period of time - this gives you time to build a credit history in the states while you lease with the option to buy.
With the number of houses for sale in this Buyer%26#039;s Market increasing and prices decreasing you can pick up a good deal and seller are more willing to negotiate on terms and accept seller financing and rent to own options.
Buying houses?
loan
You would need a credit rating and a source of income.|||Some mortgage companies offer loans without a SSN. CitiMortgage offers this type of loan, but you would need a 30% down payment and massive assets, just to name a few things.|||What kind of proof do you have from where you live now that you pay on time? if you have receipts? and bring them and have enough for the down payment and closing costs you may be just fine. They care that you will pay the mortgage back! prove that and they should help you out! Good Luck IF you are coming to TX call me we%26#039;ll work on it!
Very interesting news. I read very similar analytical articles on subscription journals- here%26#039;s a good rough guide-
http://english.pravda.ru/business/financ...
It is expected to stabilise in 2-3 years at 1.50 USD: 1.00 鈧瑄ro
%26quot;The greatest benefit of a weaker dollar is for the U.S., which has benefited (and will continue to benefit) from strong exports, Nariman Behravesh says.%26quot;
- U.S. firms find it easier to sell goods in foreign markets.
- U.S. firms find less competitive pressure to keep prices low.
Dr. Nariman Behravesh has 3 reasons for decreasing USD
huge U.S. current account deficit;
Weaker US growth compared to most OECD nations.
Market expectation that Fed on hold %26amp; other central banks will be raising interest rates during next year.
Also the largest energy producers Russia, Iran %26amp; Venezuela are flies in the US%26#039; ointment for demanding payment in 鈧?or 锟n.
I think the prediction is valid.
Assets in USD ?- trade them for Euros.
Your thoughts?
US dollar value will decrease for another 2-3 years?car financing
What can you expect from a nation 9 trillion dollars in debt thanks to horrible economic policies designed to make the upper 1% rich and powerful.
US dollar value will decrease for another 2-3 years? loan
all I can say is that a 50p dollar makes me very smug. Because of that I%26#039;m sticking to the Great British Pound, you can stick your Johnny foreigner Monopoly Money.
RULE BRITANIA!!!!!
From the Guardian, 1998-07-14: %26quot;More than 25 years ago the consultant obstetrician E E Phillipp reported to a symposium on embryo transfer that blood tests on between 200 and 300 women in a town in the south-east of England revealed that 30 per cent of their children could not have been fathered by the men whose blood groups had also been sampled%26quot;.
From the Dallas Morning News 1999-10-31: %26quot;DNA Diagnostics Center ? an industry leader, says 30 percent of the men it tests prove to be misidentified. Similar numbers come from the Texas attorney general%26#039;s office, which enforces child support: About a quarter of the men who disputed paternity in the last year turned out to be right. In Florida, the proportion was one-third%26quot;.
From the Sunday Times 2000-01-23: %26quot;David Hartshorne, spokesman for Cellmark, said that in about one case in seven, the presumed father turns out to be the wrong man%26quot;.
From the Santa Barbara News-Press 2000-02-27: %26quot;For the population as a whole, %26quot;The generic number used by us is 10 percent,%26quot; said Dr. Bradley Popovich, vice president of the American College of Medical Genetics. [15 to 25 % has been determined from blood tests of parents and offspring in Canada and the US.]%26quot;
From The Age 2000-03-26: %26quot;About 3000 paternity tests are carried out a year in Australia. In about 20 per cent of cases the purported father is found to be unrelated to the child. This figure is estimated to be 10 per cent in the general community%26quot;.
From The REPORT Newsmagazine 2000-04-24: %26quot;The rate of wrongful paternity in %26quot;stable monogamous marriages,%26quot; according to the Max Planck Institute in Munich, Germany, ranges from one in 10 with the first child to one in four with the fourth%26quot;.
From the Independent 2000-05-12: %26quot;... biologists Robin Baker and Mark Bellis ... review of paternity studies also suggested frequent infidelity, with extra-pair paternity running between 1.4 per cent and 30 per cent in different communities%26quot;.
From The Globe and Mail 2000-05-20: %26quot;Anecdotal evidence suggests these numbers bear out in Canada as well?. Maxxam Analytics in Guelph, Ont., performs approximately two paternity tests a day. And according to Dr. Wayne Murray, head of the human DNA department, one out of four men who come in pointing a finger at their spouse is not the biological father of the child in question%26quot;.
From the Sunday Times 2000-06-11: %26quot;More than 250,000 tests a year are now conducted in America, and about 15,000 in Britain.... roughly 30% of men taking the tests discover that they are not the fathers of the children they regarded as their own. In the wider community, social scientists say up to 1 in 20 children are not the offspring of the man who believes himself to be their father%26quot;.
From the Observer 2000-09-03: %26quot;One study followed couples waiting for NHS fertility treatment, where the men were %26#039;azoospermic%26#039;, meaning they produced no sperm and were totally infertile. The researchers found that 25 per cent of the women became pregnant before fertility treatment started%26quot;.
From the American Association of Blood Banks - 2001-02-26: %26quot;The overall exclusion rate for 1999 was 28.2% for accredited labs. Exclusion rates for non-accredited US and foreign labs were slightly less at 22.7% and 20.6% respectively%26quot;.
Did you know that 20% of men who think they are fathers are not?credit rating
well you know what they say%26quot;mamas baby papas maybe%26quot;you know this has been going on since the beginning of time--but seriously fellows if you suspect that you are not the father--get a test.
Did you know that 20% of men who think they are fathers are not? loan
Interesting facts - that is why now DNA test are done during child custody hearings. Most states even if you are married testing is done. But lets face it - how many men cheat during marriage and have a child out of wedlock lets see those numbers - I bet it is higher than 20%|||This is probably true and it is really sad to say. I feel that all of these girls that go out and get pregnant and try to trap a boy by telling them that the baby is theirs when in fact it really isn%26#039;t has ruined it for the rest of us that really are honest about who the father is. There have been so many girls that have lied to the fathers of their babies that now we have all these men that run off on the kids that are really theirs.|||OOOOOOOOOOOW Pooooooor Guyz : D|||cheating women give us honest one%26#039;s a bad name.....to all the whores out there.%26quot; CLOSE YOUR LEGS PLEASE%26quot;.
It is quite clear to me that escom is not only holding the goverment to ransombut also the comsumers.
Escom calculations for some expansion projects where in the region of 100mil than 150mil now i believe the figure stands at 300mil and is still climing. The banks down graded the credit rating of escom The regulator allowed only a 14% price increase. Now escom is in a tight squeese.
Escom problem.............simple explained?rate my teacher
The government minister of mineral and energy affairs ( who have since been promoted to vice-prez) enforced a moratorium on Eskom from 1998 to 2004, prohibiting them to build new power stations (against the urgent advice of engineers assesments) while waiting for a tender for a second national power company. This failed dismally, SA now have daily power outages costing the country billions. And still the government will not accept responsibility. In any sane environment Mhlambo Nguka (the ex minister responsible) would have been fired. In the ANC government, she has been promoted to vice-president. Huh? Am I missing something here?
Escom problem.............simple explained? loan
You didnt bring in the Bonuses for the Affirmative Action Directors into your calculations.|||well eskom should fire there finance managers because it looks like they have done a pathetic job!|||I have a theory...
Maybe we%26#039;re being sabotaged. (Anybody ever read %26quot;Economic Hitman%26quot;?). Whoever is 2nd runner up for the 2010 world cup is making sure it doesnt happen. I man if this is going to continue for the nest 7 to 8 years, how are we going to host the World Cup? Provide for thousands of outsiders when they cant provide for us? Imagine watching a match at night, then all of a sudden %26quot;darkness%26quot;! Despite generators being used, not too many establishments have that, they%26#039;ll be missing out on a great opportunity.
At least the one positive thing is that the generator business will be booming. If we lose this one, I will personally stand outside government headquaters laughing my lungs out whilst waving a one way ticket to Perth at them.
*Sorry, I%26#039;m pissed*|||Vango has the facts right!
The other factor is the severe skills shortage. They have not been able to replace the highly skilled and experienced technicians that they have lost over the last decade or so. This means that maintenance schedules have slipped badly - causing a domino effect - with many generating units %26quot;offline for routine mainenance%26quot; at the same time.
You want to receive $12,000 from the bank in 8 years from today. What should be the appropriate rate of investment if you invest $9,000 today?
Thanks for any help
Finanace question?construction loans
The formula *normally* used is:
FV = P * [1 + (r/n)]^(n*t)
or
FV = Pe^(rt)
however, your problem doesn%26#039;t state the number of compoundings per year, so we%26#039;ll assume (n = 1).
Now we have a simplified formula:
FV = P * (1 + r)^t
Where:
FV = Future Value
P = Principal (amount deposited)
r = annual interest rate
t = number of years
Solving the above formula for r, we get:
r = [(FV/P)^(1/t)] - 1, (such that FV/P %26gt;0)
r = [($12,000/$9,000)^(1/8)] - 1
r = [(1.33333)^(1/8)] - 1
r = [1.03615] - 1
r = .036615 or 3.6615%
Let%26#039;s check our work...
First Year:
$9,000.00 + ($9,000.00 * 0.036615) = $9,329.54
Second Year:
$9,329.54 + ($9,329.54 * 0.036615) = $9,671.14
Third Year:
$9,671.14 + ($9,671.14 * 0.036615) = $10025.25
Fourth Year:
$10,025.25 + ($10,025.25 * 0.036615) = $10,392.32
Fifth Year:
$10,392.32 + ($10,392.32 * 0.036615) = $10,772.83
Sixth Year:
$10,772.83 + ($10,772.83 * 0.036615) = $11,167.27
Seventh Year:
$11,167.27 + ($11,167.27 * 0.036615) = $11,572.16
Eighth Year:
$11,572.16 + ($11,572.16 * 0.036615) = $11,995.87
$11,995.87 鈮?$12,000.00 (Difference due to rounding)
Good luck in your studies,
~ Mitch ~
P.S. - If you use the formula for *Continuous* Compounding,
FV = Pe^(rt)
Solving for t:
... Many computations later...
r = 0.03596025... or 3.6%
Checking that answer:
[$9,000 * (2.71828)] ^ (.036 * 8) = $12,003.82
(Difference due to rounding errors).
Finanace question?
loan
it is not that easy, you have to speculate, and gamle to get a high yield or just settle with a low interest safe return as simple as that regards
Regards
Ryan Dior
What are some key things to keep in mind when comparing mortgage loans from one bank to another. Any advice would be great.
For exmaple: intersest rate.....closing vs.no-closing cost etc........
Mortgage Comparison?loans uk
The key things average consumers are worried about are the interest rate, closing costs, type of note (Fixed or Adjustable), and if there is a pre-payment penalty.
No closing costs is a scam that loan officers use to make a deal appear better than it actually is. Any loan officer can offer you a no closing costs loan, but the interest rate will be higher than a loan with closing costs. The reason for this is because loan officers are paid a comission from a bank based on which rate they sell you. Therefore, if a loan officer sells you a higher rate, he will recieve a greater comission check from the bank and pay the closing costs himself.
Here is an example...
Loan with Closing Costs:
- Rate 6.25%
- Closing Costs Associated with the loan; $2000
- Closing Costs borrower pays: $2000
- Loan officer comission on 6.25%: $1200
- Closing Costs Loan Officer Pays: $0
- Loan officer total comission: $1200
Loan without Closing Costs:
- Rate 6.875%
- Closing Costs Associated with loan: $2000
- Closing Costs Consumer Pays: $0
- Loan officer comission on 6.875%: $3500
- Closing Costs Loan Officer Pays: $2000
- Loan officer total comission: $1500
As far as the other items...
Go with a fixed rate note with no pre-payment penalty. The closing costs should never be over $2500 (not including pre-paid expenses)
Mortgage Comparison?
loan
Efficiency of the entire outfit/company. Everyone will tell you up front that they%26#039;ll get it done quickly.
Go with a referral if you can. Our business is almost 100% referral because we give our clients a mortgage experience like none other. We%26#039;re brokers so can offer the same rate as just about everyone else (yes, we%26#039;re stumped here and there)... It%26#039;s all about efficiency, trust and getting it done in the end...
15.During which of the following decades was the U.S. inflation rate highest?
a.1920s
b.1930s
c.1950s
d.1970s
e.1980s
16.Since the end of World War II, the U.S. price level has
a.increased eightfold
b.increased by an average of 10 percent each year
c.increased and decreased with equal regularity, leaving the price level almost constant
d.increased by 50 percent
e.doubled
17.A worker would be hurt least by inflation when the
a.worker anticipates inflation and increases savings at the bank
b.worker is protected by a cost-of-living adjustment clause in an employment contract
c.the price level increases but at a decreasing rate
d.worker is protected by fixed annual increases in wages and benefits it an employment contract
e.government increases the level of social security retirement benefits to correct for the effects of unanticipated inflation
18.Since World War II, the Consumer Price Index has increased by an average of
a.1.4% per year
b.2.1% per year
c.6.4% per year
d.5.6% per year
e.3.9% per year
19.Suppose you received a 3 percent increase in your nominal wage. Over the year, inflation ran about 6 percent. Which of the following is true?
a.Your real wage fell.
b.Your nominal wage fell.
c.Both your nominal and real wages decreased.
d.Although your nominal wage fell, your real wage increased.
e.Both nominal and real wages increased.
20.If the inflation rate is 5 percent and you receive a wage increase of 5 percent,
a.your nominal income declines but your real income increases
b.both your nominal income and your real income increase by 5 percent
c.your nominal income increases but your real income declines
d.both your nominal income and your real income decrease by 5 percent
e.your nominal income increases by 5 percent but your real income is unchanged
21.If the expected inflation rate is 4 percent and the nominal interest rate is 9 percent, the expected real interest rate is
a.13 percent
b.-5 percent
c.9 percent
d.-13 percent
e.5 percent
22.During periods when the inflation rate fluctuates widely,
a.all relative prices increase at the same rate, leaving money prices constant
b.all money prices rise at the same rate, causing relative prices to increase
c.economic efficiency increases because decision makers pay closer attention to changes in money prices
Econmics question?yes loans
d.
e.
b.
d.
a.
e.
b.
c.
1Suppose the reserve requirement is 10 percent. If a bank has $5 million of checkable deposits and actual reserves of $500,000, the bank:
a. can safely lend out $500,000. b. can safely lend out $5 million. c. can safely lend out $50,000 d. cannot safely lend out more money
2A Federal funds rate reduction that is caused by monetary policy will:
a. increase the prime interest rate. b. decrease the size of the monetary multiplier. c. increase the Fed%26#039;s discount rate. d. decrease the prime interest rate.
3Other things equal, if the supply of money is reduced:
a. the demand for money will increase. b. the interest rates will fall. c. bond prices will fall. d. investment spending will increase.
Help with economic homework!! Please?education loans
You really want this to post it twice ok
1) I would go with a.
3)i would go with c
2 im a lttle unsure maybe d
Here%26#039;s an economic reason why I think religion is a bad idea:
Of course I%26#039;m assuming religion as superfluous, which of course isn%26#039;t completely true.
1. Full-time clergy don%26#039;t help the economy in any way, because they don%26#039;t work. They just spend the money that is given to them and make a living off of that. In my books, they must as well count as the unemployed.
2. Theists donate money to the church, now I know some of it goes to charity but the other half goes to upkeep, contruction of churches and the paying full-time clergy. It%26#039;s much better to just donate directly to a charity.
3. The money people donate takes away from people%26#039;s disposable income. The more disposable income you have the more money you save. The more savings people have the the more money is invested into the bank or businesses. This leads us closer to the Golden Rule savings rate (ie. the consumption per efficiency unit of labour is maximized when we reach the Golden Rule savings rate)
Why is religion bad business?interest only loan
The Clergy in my religion are NOT PAID.. they support themselves by WORKING!...
EVERYTHING we have comes from God.. our talents, abilities, skills, .. everything.. and we are to pay 1/10 of our increase as Tithe to show gratitude and to acknowledge where these things come from...
I make more money now than before I started paying Tithing.
Why is religion bad business?
loan
Very interesting and informative thank you but I would disagree with the notion that religion helps people. I think religion delays the progress of mankind.|||Religion is the greatest hustle in the history of mankind.
-To become a successful business person
-To invest in the market to make about 1k and invest that to make about a million
-Invest in the million and own multiple businesses
-Buy and Sell my businesses
-Take the risk and multiply my income by 10x (from the 1st Milion)
-With my 10million (normal rate interest on that is like 600k a year i think) put that in a bank and let that grow
-Hopefully my capitol can grow at the rate of over a half of a million a year steadily (600k a year)
-and in due time i will have multiple millions
(and maybe, MAYBE, i can reach 100mil after like 40 years, %26#039;im not counting on it at all, its just a MAYBE%26#039;)
im not sure if this is feasible because i think that i have an extremely slight case of megalomania.
Are My Goals Delusional?boat loans
Yes, you are megalomanically delusional. Having been one in my younger days, I can only say reality, and the math, hurts:
--To become a successful business person--
Very Possible, although as a megalomanic you may have problems passing business ethics in business school.
But here your plan starts to fall apart, quickly:
---To invest in the market to make about 1k and invest that to make about a million---
Whipping out my handy TI financial calculator: PV= -$1,000 (initial investment/outlay) FV= $1,000,000 (your goal) I%26#039;ll give you say 10 years to still give you time to finish up, nets.... a 99.53% average annual return... thats per year every year for 10 years, straight. I believe I read recently the highest 10 year return on an individual listed stock (out of the thousands of stocks) is about 40% and the average stock returns are expected to be around 8% according to analysts for the next decade, I%26#039;d say your nowhere near your goal in ten years.
--Invest in the million and own multiple businesses ---Invest in the million and own multiple businesses
-Buy and Sell my businesses
-Take the risk and multiply my income by 10x (from the 1st Milion)----
Technically you%26#039;ve already been doing this in the market, but now your swtiching to buying and selling whole businesses... you realize whatever business you buy for a million bucks isn%26#039;t going to be well established. It not like you can flip these things like a house either (or like you used to be able to anyway)... you work and nuture a small business into something. Anything you%26#039;ll be able to buy, someone also wants to get rid of... if its a well run business, there is probably an entrepreneur running it... its his/her passion, dream, %26amp; energy driving the company (of this size). They probably won%26#039;t want to sell if the business is going somewhere. Also, that entrepreurial spirit won%26#039;t exist if they previous owner sells out early to you (especially if its just so you can flip it)... Also, you say you want to make ten times your money and get $10 Million in income... hold on a sec there partner... $1 million in assets * 10 doesn%26#039;t equal $10 Million in income... its $10 Million in assets! Income is the cash the assets kick off, assets kick off closer to zero (for growth stocks) to say 12% for the highest risk bonds and other income securities. (So most likely about say $300-$700,000.00 in income in a conservative well balanced portfolio designed to produce income).
----With my 10million (normal rate interest on that is like 600k a year i think) put that in a bank and let that grow
-Hopefully my capitol can grow at the rate of over a half of a million a year steadily (600k a year)---
Ok first off $10 Million in a bank isn%26#039;t going to grow all that much... especially when you factor in inflation... your purchasing power only gains a percent or two each year... yawnzville. (Think closer to in year x + 1 you have $10,600,000.00 but with the purchasing ability closer to: $10,192,307.69 in year x dollars. Although actually the return you%26#039;ll get today is closer to 4.50% (say in an online savings account) and not 6%. But let%26#039;s not quibble.
---and in due time i will have multiple millions
(and maybe, MAYBE, i can reach 100mil after like 40 years, %26#039;im not counting on it at all, its just a MAYBE%26#039;)---
PV = -1,000 FV= $100,000,000.00 N= 40 I/Y= X
x = 33.35 % annual returns per year for 40 years straight... considering small cap stocks have averaged the highest long term returns at close to only 12% your going to fall way short.
Also, even if you somehow did get to your $100,000,000.00 at say 3% inflation will only buy the equavalent of $30,674,846.63 in todays dollars.
Oh and FYI, if you could get the 12% a year for 40 years on your $1K, you%26#039;d end up with:
PV= -1,000 FV= x N= 40 I/Y = 12%
x= $93,050.97 or $99,906,949.03 short of your dream...
Oh and thats $28,543.24 in today%26#039;s dollars... about the price of a decent new car.
So $1,000.00 + forty years = new car; not world industrial domination.
Sorry to crush those dreams, but better to understand the reality now then be ruined trying to live up to the dream.
Are My Goals Delusional?
loan
You might have a slight case of megalomania as you say. But other people have done as much and more. So why not you?|||You never know... But do keep in mind that you:
a) Need to persevere always;
b) Need to be aware that you must start from the start;
c) Need to really learn and know how to do business;
d) Need to be very lucky;
e) Need to be very clever and probably step on many people.
Do you still want it? Good luck!|||Goals aren%26#039;t enough; you need a plan.|||Yes, its delusional, but wait....... Didn%26#039;t Hillary Clinton makes hundreds of thousands of dollars on the commodity market from money that was lent to her and managed by a professional commodities trader... Yes! That%26#039;s the ticket!
If you%26#039;re not tied with the Clinton%26#039;s political machine then I suggest that a more realistic rate of return for stocks over the long term is around 15% a year.
i want to send some money, i believe the other person has no bank account, i know western union can send it but there exchange rate s $1.92, were can i get better rate? also besides wetern union does anyone know another way? thank you in advance.
Please help, what best and fast way to send money to usa from uk?loan forgiveness
The least expensive way to send money is to airmail cash. It isn%26#039;t as risky as it sounds as long as you wrap the money in something so someone holding the enverlope up to the light can%26#039;t see it contains cash. However, mailing cash isn%26#039;t very fast and paying for express mail (incl UPS, FedEx, etc.) probably may cost as much as sending it via WU.
Please help, what best and fast way to send money to usa from uk? loan
are you gonna send me money???????????????????????????????????... YIPPEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEE
Though banks would not pose life threathening situations to their customers, what about in terms of interest rates, leniency to reschedule loans, service (timely response) and their sole right to blacklist a default paymaster (due to valid reasons) even the Central Bank (Bank Negara) cannot intervene?
The banks in Malaysia enjoy high immunity by the laws in Malaysia and there is not much say given to public.
Are the banks in Malaysia worst than a loan shark (Ah Long)?bridge loan
Yes, there are worst, in exception of the life threatening situation. And there are worst now after they have merged and left with bigger entity. I would prefer now to go to overseas bank who operate locally, like Al-Rajhi or Kuwait Finance House pr Citibank or HSBC rather than a local bank
Are the banks in Malaysia worst than a loan shark (Ah Long)? loan
yup..
bank is quite similar with loan shark.. sometimes even worst because they can blacklist your finantial profile %26amp; stuff..
hi i payed every mounth $231 for my 2006 car for 60 month for %11.9 rate from chase auto ..i am now paying this amount from Feb 2006(21 months till now)i pay this amout regualy i never passes the due date..my dredit score is 702 the question if i called the bank to refinance the auto loan what will be aprox the new percentage rate???? or what percentage rate will redure from %11.9 i am paying now? thanks
My auto loan?no fax loan
You might get a rate between 7.5-8.9%, however it might not be worth it. Since vehicle loans are simple interest, your current loan%26#039;s payments have gone mainly to interest and not the principal balance. If you take out a new 60 month loan, even though you might have a lower rate, you might end up paying more for the car in the long run.
I would go to http://www.bankrate.com click on calculators. From there, you can plug in your original loan figures and see how much interest you have already paid towards your car. Next, plug in the new figures and add that interest to the amount you have already paid. This will give you a clear picture of whether or not refinancing is even a good option. Good luck and I hope this helps.
http://www.theautoevaluator.net/Refinanc...
My auto loan?
loan
If you refinance through chase you%26#039;ll probably get 7.9
You put money in a bank account, earning a real interest of 6%, inflation = 2%, marginal tax rate = 20%. Whats the after tax real interest rate?
A. 4.8%
B. 3.2%
C. 2.8%
D. None of the above
Thanks!!!
Easy macroeconomics question plz?sba loans
The answer shall be A. 4.8%. I did all the calculations...should be correct!!!!
hope this helps
Easy macroeconomics question plz?
loan
I%26#039;ll give you a hint. Inflation is irrelevant when you are dealing with real rates. Real rate implies that it has been adjusted for inflation.
So, you gain 6% on your money and pay 20% of that gain in taxes. Whats left over? 80% of 6% which is....
If my bank is giving me a loan of $21,000, with an interest rate of 8% .. is that good or not? HELP!! you think that car dealers will give me a better rate?
Inexperience on financing.. PLZ HELP!!!!?finance
Check with credit unions and AAA. Either of the two should provide better better rates than 8%.
Inexperience on financing.. PLZ HELP!!!!? loan
just ask the car dealer how much their interest rate is check around for all your options. Some insurance companies also finance.
Want to transfer money between UK HSBC account and Australian St.George bank account. Probably a couple of thousand pounds. Whats the best flat-rate transfer method with best conversion rate?
thanks!
Transferring money from UK to Australia, cheapest method?military loans
First off, cancel your HSBC account and open a good one. I just moved to the US and since %26quot;the worlds local bank%26quot; has branches in both places I thought it would be ideal.............wrong.
The Halifax bank charged less and didn%26#039;t have me messed around by someone whose first language was NOT English or make unreasonable limits.
Any bank should be able to do it with the account number and routing/sort code of the Australian bank. The rate will be fixed at the time and a fixed fee apply
Transferring money from UK to Australia, cheapest method?
loan
western union|||do it through your bank, wire transfer, you can call around, and find out how much it will cost.
According to Federal Reserve banking data (via the St. Louis Fed) released yesterday, %26quot;weekly bank credit of all commercial banks%26quot; hit an all-time record high of $9.49 trillion on March 19, 2008. What%26#039;s even more impressive though is the growth in total bank credit measured as the %26quot;percent change from a year ago%26quot; (see chart above). Compared to the same week a year ago, bank credit in the third week of March (the most recent week available) increased by 12.62%, the largest annual percent increase in bank credit in more than a quarter century!
You would never know from media reports on the %26quot;credit crisis%26quot; (1.81 million Google hits) and %26quot;credit crunch%26quot; (3.61 million Google hits) that total U.S. bank credit is higher in absolute terms than ever in U.S. history, and is growing at the fastest rate in percentage terms since 1979!
http://research.stlouisfed.org/fred2/fre...
http://bp1.blogger.com/_otfwl2zc6Qc/R_OH...
Are we really experiencing a %26quot;Credit Crunch%26quot; or %26quot;Credit Crisis%26quot;?horses for loan
The %26quot;credit crunch%26quot; has been caused by a small percentage of foreclosures in the sub prime market. Loan defaults are up, but are still a small percentage of the total.
This has caused lenders to have trouble selling the %26quot;paper%26quot; that allows them to make loans. Appraisers used to be able to use sales from going back 1 year. That is now 6 months. Also credit scores has to be much higher to qualify.
Any one in real estate should have seen this coming years ago.
Are we really experiencing a %26quot;Credit Crunch%26quot; or %26quot;Credit Crisis%26quot;?
loan
Possible, but the on the ground reality is what counts. A significant number of wage-earning Americans are in significant trouble financially, and those Americans that have lost high or moderately high paying jobs are no longer able to continue any of their consumption. The concept of an ever increasing economic universe is what%26#039;s at fault. Great booms are followed by busts. Smoothing out those busts is the point of Keynsian economics...government purchasing when times are slow and cutbacks when times are not. All this worked well until the world changed. Eventually the world got over the effects of WW2. Suddenly the US wasn%26#039;t the only big producer of goods. Third world countries, with large poor populations and no thoughts of environmental issues could produce %26#039;stuff%26#039; cheaper...not that it sold for that much less than if it was manufactured in the US with union labor, but the profit margin was higher. Couple that with trade policies that are rigged to screw the American worker and we get what we paid for....a world of very rich and a world of poor, very poor and piss poor people with a few shoals of moderately well off folks to create the illusion that %26#039;all is well%26#039;. Basically by sticking it to the American working class, and that 90% of us, the world of banking, credit, trade and taxation have, if not killed the goose that lays the golden eggs, its made the goose one sick puppy...how %26#039;fowl%26#039; is that?
I have a bank card that has a balance of 1,200 the anual interest rate is 26.24 percent anual percentage rate for this period is 36.28 I only get the balance this high around vacation time and then pay it off 200 or 300 at a month. I got a promotional mailing with balance transfer type checks that can be made out to cash at 3.9 percent. Would I be wise to write a check for the total balance of my account and pay off the balance currently at 26.24 then continue to pay off the resulting balace at 3.9 percent? Or just leave it alone and continue to pay it down. This would all be through the same card as I only carry the one.
Wise use of credit?credit cards
I don%26#039;t think that is going to work. Most credit cards will pay off the lower interest rates first. SO you will just end up where you are and include a 3% fee on top of that. If you have another card with a lower APR I would recommend to transfer the balance. There are usually transfer fees so call your other company and say you would like to transfer a balance but you don%26#039;t want to pay a transfer fee. Hopefully they will be helpful and say ok. I was able to do this with one of my cards.
Or you could go the long way around. Transfer the balance to another card. Make sure to do the transfer over the phone and request that there not be a transfer fee. Then you can use one of your 3.9% checks to transfer over back to the account. But there will be a 3% fee more than likely, so be prepared to take that into consideration when you calculate how much you will be saving and how long it will take you to pay off the debt.
If you make the check to cash make sure to pay the account before the check shows up on there. That would probably be the only way you could get the 3.9% because of the paying off of lower interest first.
Wise use of credit?
loan
The lower late would be good, but don%26#039;t close the account. The longer a account is in good standing the better your credit score. Also make sure that you balances is less than half this also increases you credit score.|||You might want to check the checks terms... most cards will not allow you to write a check to paydown their own cards... they are most often designed to get u to transfer from other companies... if there are no term objections to it then go for it... but somehow i doubt that they will give you that lower interest rate, afterall they are making big $$$
I carry a small balance on a credit card with my bank and I can eliminate the interest if I transfer the balance to a competing bank. I have been with my bank for years and they have done nothing for me, but if I move to a new bank just so save some intrest over a few months, does it mean I will have to build a new relationship with the new bank when it comes time to get a mortgage, etc? I am not very good at negotiating lower interest rates etc., so any advice you have is welcome. Thanks!
Does changing banks reflect badly in terms of obtaining credit?exchange rate
I would suggest that if you do open a new lower interest card, do not close the old card. Closing old accounts is bad for your credit because it lowers your average account age. Having one card paid off and one with a small balance, however, is good for you. The old account will help keep your utilization ratio low.
So far as your relationship with the bank, they generally only see %26quot;customer since.%26quot; I%26#039;m not an expert in this particular area, but I would hazard a guess that if you keep the account open but don%26#039;t use it (charge an item once a year or so to keep it %26quot;active%26quot;) it would be just as good for you in that respect as having it be your sole card.
Does changing banks reflect badly in terms of obtaining credit?
loan
Yes! But only because repeated credit searches adversley affect your credit rating. Why not just pay your credit card bill off when you get it? Or just use a debit card instead of a credit card?|||Eliminating high interest credit cards by transferring to a card with a lower rate can help you save a great deal of money, allowing you to regain control of your finances. However, it is important that you understand all of the terms and conditions of your new credit card before committing enrollment. You want to make certain that the card offer is fair and that you are truly going to benefit from it. Featured are tips that will help you choose and use the right credit card for transferring balances.
Pre-determining interest rates
Most balance transfer offers are good for only the first 6-9 months of enrollment. At the conclusion of the introductory rate, the card will convert to a more standard rate, typically between 14-20%. It is important that you determine what the interest rate is going to be once the intro rate is over. If you are not sure what interest rate the card is going to be charging at the conclusion of the intro offer, call the issuer and find out. Read more about it at: http://www.credit-card-gallery.com/artic...
Are you an edge fan if so why do you like him and withwho do you want to him wrestle ? details. 10 points for the best answer and put star if you liked the video please.
http://youtube.com/watch?v=BeIQBP78aT0%26amp;m... - edge wins the world heavyweight championship by cashing it his money in the bank. oh yeah !
http://youtube.com/watch?v=B03fzis5PRs - tribute to the rated r superstar !
this superstar has been ratde R .
The Rated R Superstar Tribute !?credit report
Why I like Edge
- he always gives the fans countless of memories
- when he sphered Jeff Hardy in mid air
-sphered mic Foley threw a flaming table
- ALL of his ladder/TLC matches
- Got 2 love his Rated R gimmick
- him and Christian made me laugh
- Edge has been the best heel since HHH
- He sphered Cena at new years revolution.
- Has worked his @$$ off to get to the top. He didn%26#039;t get into the mainevent right off the bat like cena
- great mic skills and charisma
- currently Edge was %26quot;simply the best on sd%26quot;
and I%26#039;m not watching it until he or taker comes back. Then the Rated R and deadman feud will begin. Hopefully it be for the world title with Batista out of the picture completely
The Rated R Superstar Tribute !?
loan
he is currently the best wrestler in the WWE right now.|||i like edge...he is one of the best in my opinion and it is awful for smackdown tht hes gone|||I like Edge he makes the wwe interesting and I love the videos.|||This was his tribute to himself.
http://youtube.com/watch?v=twfuHpnRbgI|||If you have noticed, the hair on the top of Edge%26#039;s head is starting to get thin. This is from crawling under Vince McMahon%26#039;s desk so much.. that%26#039;s the only way he could get a push.. You see he has a problem, HE SUCKS...
This is where the name Edge head came from.
Ok, I regret getting my auto loan directly from the dealership as opposed to researching other resources, I%26#039;ve learned from my mistakes. My current auto rate is 7.99% and I want to see if I can get even a lower rate elsewhere. I%26#039;ve been checking all the big name institutions such as Bankrate, Bank of America and HSBC, but it all seems like that the best rate they would offer is about 7.20 or so, and that%26#039;s with excellent credit. So I%26#039;m thinking, is it worth it to refinance if the reduction in APR is less than 1%?
Is it worth it for me to refinance my auto loan if I have 7.99% currently?credit score
sure, check with a credit union. you could get a 5.9 rate, they drooped the interest rate yesterday so this is the perfect time.
Is it worth it for me to refinance my auto loan if I have 7.99% currently? loan
There are many auto loan options available today. Today, stiff competition among auto loan financing companies%26lt;!--has made it possible to get a car loan or an auto loan at favorable terms.
http://best-loans.awardspace.com/autoloa...
However, before you sign the paper for financing your favorite set of wheels, do your homework to ensure that you get the best car--%26gt;finance option. You can apply for online car loans on the Internet, or get it from your car dealer.|||According to interest rate search engine RateZip http://www.ratezip.com, Capital One and GE Money Bank both offer rates as low as 5.99% on auto loans, so it may well be worht it to refinance, depending on the term of the loan you are looking for.
Ponzi Schemes are defined as fraudulent, and paying others from other investors money.
What if there was a way to pay investors from actual revenue from a product, and earn more money by charging a fee for withdrawing the money. The fee also goes into paying members. Have a fixed investment maximum so as not to have too high an investor, and a variable payment rate, low enough to sustain, but higher than putting it in a bank.
Profits can come from services, or products sold. Advertising on the site could also count as revenue.
Wouldn%26#039;t you like to get 0.5% daily back from your investments? APY would be more than the bank, but achievable by the revenue from the products....
Can anyone tell me flaws they see with this plan?
Would this work... (inspired by ponzi)?signature loan
I need to have more information about how the investor earns his money. You said that the revenue would come from a product. I%26#039;m not sure what this means.
It would be illegal if, for example, you (1) used investor money to buy an inventory of products, (2) pocketed the money from that sale, (3) used additional investor money to pay off the first investors, (4) and continued to divert funds to yourself, while paying off earlier investors with the funds acquired from later investors.
To see if this is a fraudulent %26quot;ponzi%26quot; scheme, I would need more information about how the revenue is generated and how investors were paid.
I%26#039;d like to have about 100,000 Yen with me when I go to Japan in March. The market rate as of today is .008227. However, if I make the exchange through my bank (Wells Fargo) they will only give me .008584 plus they will charge $8 on top of the 4% rate difference. Is there any way to avoid the $8 charge and/or the 4% rate difference between market and Wells Fargo? I imagine the rates in the airport are even worse.
What is the best way to exchange U.S. dollars for Yen in the U.S.?rate my
Banks always have the best exchange rate. If you don%26#039;t like Well Fargo%26#039;s rate, then ask another big bank.
What is the best way to exchange U.S. dollars for Yen in the U.S.? loan
yes, the airport is worse. why don%26#039;t you buy a little money at the local bank and then when you go to Japan just go to the American Embassy or just the local bank. Sometimes the hotels will allow you to exchange a certain amount. Also they do have ATM machines there too!! so there is a exchange rate ...it will do in a pinch.
If you have any Japanese friends ask them as most of theJapanese or other nationals are looking for a better exchange rate then the banks..its worth asking your friends and relatives if you have any in Japan.|||Go to the local Post Office and get a couple of %26quot;International Postal Money Orders%26quot; they have a $700 (USD) max but you can get more then one. Change enough money at the Airport just to have some til you can get to a Post Office here in Japan. The Post office will charge you $3.45 per Order but they give you the current exchange rate here in Japan. This is the way my family sends me money for Birthdays, Christmas, ect. More info at the link below. (If your not from the U.S check with your countries P.O)
EDIT: I notice you are indeed in the U.S|||3 things to consider:
1. Credit cards are much more widely accepted in Japan than just a few years ago. The exchange rates are generally excellent, though you will want to call your credit card company to ask if they tack a premium on the exchange (this has quietly become more common). I use my AmEx wherever I can in Japan. Visa is second. Cash is the last option.
2. Travelers checks give you a small bump in the exchange rate in Japan (whether airport or bank) . This is because the institution can hold them before redeeming them and can thus time their exchange.
3. Postal money orders are a great option if you are determined to carry 100,000 yen. (www.usps.com) I%26#039;ve found that I don%26#039;t need nearly that ammount these days, but if you are travellng outside one of the major cities it may make you feel more comfortable.
Have a great time.|||Most banks do charge some fee in the form of a percentage to exchange currency (which is how they make a profit off of it), and without question the currecy exchange booths at the airports will give you the worst rates imaginable.
I would suggest taking a small amount of Japanese currency with you to tide you over just for a day or two, and then take your money directly from an ATM. Most post offices in Japan have ATMs that accept foreign cards, and banks with international offices like Citibank will have ATMs you can use (local Japanese banks will often not accept foreign cards). By getting your money directly from the ATM, you usually get the best and most current exchange rates and the fees (if any) are pretty minimal.|||Airport|||I would not worry about it in the US. The rate at the airport in Japan is always better than the rate in the US and it is easy to do at the airport when you arrive. Tokyo, Osaka, and Nagoya airports all have money exchanges that are open when flights arrive from the US (Unless it is very delayed)
The centers of all three branches of the U.S. federal government are in the District. It also serves as the headquarters for the World Bank, the International Monetary Fund, the Organization of American States, the Inter-American Development Bank, and other national and international institutions.
The population of the District of Columbia, as of 2005 United States Census Bureau estimates, is 582,049 persons. The Washington Metropolitan Area has more than five million residents.
As of 2002, the federal government accounts for 27% of Washington, D.C.%26#039;s jobs
According to the Census Bureau, the District%26#039;s daytime population is estimated at 982,853.[21] The influx of over 410,000 workers into Washington on a normal business day comprises a 72% increase of the capital%26#039;s normal population
Washington D.C. crime rates (2005) remain among the highest of U.S. cities, and it was most recently ranked as the 13th most dangerous city in the nation (2005). Washington, D.C.%26#039;s crime rate surpasses the rates of L.A. and New York.
Above are the Facts, Below are my questions/problems with the setup
1. Is it not a bad idea to have the centers of all three branches of the US Govt located in the same area? This made since when DC was designed due to communication needs, but in today%26#039;s communication age there is no need to have all branches of the Govt centrally located, in my opinion this is a disaster waiting to happen, when you throw in the world bank, and all other political/financial interest, its just a matter of time until DC is attacked again.
2. Traffic in DC is INSANE, the WORST in the country, and above tells you why the population of the district more than doubles during work hours. This is because Most of DC is still unlivable to the people who work there because of crime and demographics. They are forced to live outside of DC for safety concerns and commute in daily.
3. DC crime is unreal, when you consider it%26#039;s crime is worse than LA and NY but it has a population of only 500,000, its totally insane, the entire city is a haven for criminals/gangs/drugs.
My proposal:
Do not have every major never center to the US Govt located in the same general area, Wyoming is wide open, use it. Moving each branch to it%26#039;s own separate and sparsely populated area would not only improve the safety of the federal employees but also boost the local economy without overwhelming it like it has done in DC.
The Federal Govt makes up roughly 30% of the jobs in DC, but off those 30% only .02 percent of those jobs are held by residents of DC. My point is that DC will not collapse if the Federal Government pulls out and moves elsewhere, sure it will take a hit, but in so it will also disperse the gangs and criminals and actually make the %26quot;NEW DC%26quot; a livable community that can sustain itself without federal employees and 50% less traffic.
Opinions?
Should Washington DC be moved for security purposes?rate my professor
I%26#039;m not American, so don%26#039;t take me too seriously :D
I dont think that you should move your capital, as you would loose so much of your heritage. Also you will be showing weakness and the %26quot;threats%26quot; will keep coming.
Anyway - it makes no difference where the government is, a couple of miles isnt going to stop an attack.
Should Washington DC be moved for security purposes?
loan
No, we should just reinforce america with border fences and armed forces and technology to keep out all bad people.|||Great question. I too have always wondered if Washington DC was really safe so close to the east coast.|||Maybe.
Congratulations for doing some real thinking.
But... No matter where the government moves, the Democrats will report it to our enemies, or the News Media, which is also some our enemies.
GOOD QUESTION!!!!|||I worry about it sometimes too, but they honestly couldn%26#039;t do much. Though the crime rate for the city is bad, the Capital is pretty safe as far as it goes. It%26#039;s the home of the President. Military could be there in seconds if they needed them.
But I%26#039;m glad that Fort Knox isn%26#039;t there. That would honestly scare me to death.|||no keep it there, i cant wait to watch it getting bombed or shot up on the telly|||While I cannot talk about the World Bank, IMF, and OAS, I do not see how it would make sense to physically move the Federal Government across the US. Can you just imagine the cost of moving government offices, staff, etc.? We have a deficit that makes such spending a frivolous measure. Also the travel involved between one agency to another would be astronomically expensive, even with the advance of email and teleconferencing.
Also, as someone posted previously, terrorists will target wherever they want, whether it%26#039;s DC, or Terre Haute, IN. Al-Qaida is notorious for coordinating several disparate attacks at once---look at 9/11, the embassy bombings in Africa, or the London bombings.
Traffic and crime are bad here, but you can say the same for Atlanta, Philadelphia, or Houston. Those are typical drawbacks for living in any large city/metro area.There are many safe, popular, and attractive areas inside the city.
Washington is atypical in its employment mix, but for the most part, the city%26#039;s people, and most of the federal employees, lead lives as normal as most others elsewhere across the US.
My husband and I bought a house and got a great fixed rate. Shortly after, I wanted to buy a new car and the bank offered us 13% interest. We%26#039;ve financed 4 vehicles with the same bank and got 5.2%. How does that work?
Does buying a house affect your credit?payment calculator
It may help to know what makes up your score before I answer, so here it is:
1. 35% payment history
2. 30% debt : income
3. 15% length of time establishing credit
4. 10% types of accounts
5. 10% inquiries and new accts : established accts
Initially, when you finance a house the note will directly affect #2 which will temporarily bring your score down becuase naturally have more debt than you did before you got the house. It takes anywhere from 6 months to a year for the mortgage to truly reflect on your credit so #1 and #4 would be affected in this case. Your score will go up, but it takes time for the account to report enough to level it off.
Does buying a house affect your credit?
loan
Your debt to income ratio is probably different, and your risk is now higher.|||Buying a house greatly increases your debt to income ratio. Still, going from 5 to 13% seems pretty drastic if you are making all your payments on time. Shop around for a better auto loan, or wait a while longer so the good payment history shows up more.|||Keep searching there are better deals out there, you just have to find them and as long as your credit rating is good you should have NO problem getting one of them, if you buy a used car the financing may be at a little higher rate.
Talk to the head loan officer if you have had no credit problems since the last purchase and see if they can%26#039;t reconsider ? It has and can be negotiated.
If not search elswhere!|||I%26#039;d suggest getting your annual free credit report. This is a new law that passed last year. There may be something on there that is affecting your credit score. How did you pay those car loans? Not all mortgage companies report to the credit bureau. You%26#039;ll see if yours does by getting that report. A mortgage usually makes you a better risk because it shows stability. But as a previous contributor has correctly stated, if you purchased %26quot;too much%26quot; house, your DTI could be too high.|||When was the last time you bought a car? Interest rates have increased in the last 3 years on all types on loans.|||Double check if you credit score has dropped for some other reason.
But no, normally if anything home ownership should improve your credit score. I am guessing that the reason would be that the bank feels you have overextended yourself in your current mortgage so they view you as a higher risk.
now please tell me , how trade is possible without making any money or profit ?
Islamic banks, claiming that they do not deal in interest (but merely conceal it through legal tricks.)
Islamic banks do compensate and charge for the time value of money, thus paying and receiving what is known in economics as interest. Compare Islamic banking to contractum trinius鈥攁 legal trick devised by European bankers and merchants during the Middle Ages, designed to facilitate the borrowing of money at a fixed rate of interest through combining three different contractual agreements .
aren%26#039;t these so called Islamic Banks(following rules of islamic law %26quot;shariah%26quot;) making mockery of islam itself ? making fool of simple muslims ( who deal with them in name of islam) %26amp; making huge profits ?
According to islam: %26quot; banking %26amp; profit making are considered evil, while trading is permitted?credit check
Part of every religion is hypocritical BS .It all superstitious BS.Changing the rules to fit a persons life style is part of removing guilt and still believing you are following the original set of rules
According to islam: %26quot; banking %26amp; profit making are considered evil, while trading is permitted? loan
you don know any thing
intrest is bad see in old times in india there is a group of comunity which do not do any thing and just they sit and suck the blood from the villigers viens
i will not go in detail s but there are many things i want to tell you i don have time know can give youAll true religions have prohibited this. Read the following references from Islam and Bible:
Islam prohibit usury (interest on loan). Quran forbids it. %26#039;Allah has laid His curse on usury and blessed charity to prosper. Allah does not love any ungrateful sinner - (Quran 2 AlBaqara 276)
Apostle of Allah has cursed upon the people involved in this act. %26quot;Narrated Abdullah ibn Mas%26#039;ud: The Apostle of Allah (peace be upon him) cursed the one who accepted usury, the one who paid it, the witness to it, and the one who recorded it%26quot; - (Sunnan of Abu-Dawood 1475)
Narrated Abdullah ibn Hanzalah ; Abdullah ibn Abbas: Allah%26#039;s Messenger (peace be upon him) said, %26quot;A dirham which a man knowingly receives in usury is more serious than thirty-six acts of fornication.%26quot; Ibn Abbas%26#039;s version adds that he said, %26quot;Hell is more fitting for him whose flesh is nourished by what is unlawful.%26quot; Ahmad and Daraqutni transmitted it. Bayhaqi transmitted in Shu%26#039;ab al-Iman on the authority of Ibn Abbas - (Al-Tirmidhi Hadith 854)
Bible also prohibited it many times, for example read the following lines and for more detail you may read King James version.
8 If he has not exacted usury Not taken any increase, but has withdrawn his hand from iniquity and executed true judgment between man and man; -(Bible Ezekiel 18:8)
link|||residual income is much more difficult with traded sheep|||banking and profiting are totally legal
wherever you got that idea your wrong its borrowing that is not permited thats why we arent allowed to lease|||%26quot;usury%26quot;, the practice of lending and charging interest (as it is more commonly called) was also banned by Christians and the Catholic church for 100%26#039;s of years. remember the dark ages? so were Christians %26quot;making a mockery%26quot; of Christianity by effectively charging interest even though it was prohibited, as you so clearly point out?
that%26#039;s why Jewish business men became so wealthy, and in many cases hated by their Christian counterparts...because their religion did not prohibit this core tenet of capitalism.|||It%26#039;s talking about interest and loaning money only to gain profit from it.
Most traders do not trade for a profit, but for a fair deal.
2 silk clothes for 4 leathers (world of warcraft, sorry) or something like this...|||they can do whatever the h e ll they want, but in islam, taking money you haven%26#039;t earned and giving money to others that they haven%26#039;t earned(unless its a gift) is haram..i.e. interest, usury
we shouldnt trade something for something else..instead we should sell that something, and then with that money buy, that something else...why because you can be cheated or you can cheat in this way..say you want a bag of rice, but all you have in 12 oranges..then you should first sell the oranges for money, and with that money buy the bag of rice....by haggling for how many oranges i owe for the bag of rice, i may end up paying less than i should or more than i should..rarely, can the value of an orange be ratioed to a bag of rice so that trading can be fixed...this also means that we shouldnt blow up prices and put them on sale, and use this as a technique to get people to buy things that are not worth their value...neither should you haggle for a tomato that you think is 50cents more than it should be...of course profit is allowed, but you have to work for it, not use tricks to get it...
do you like getting ripped off by college loans, mortgages, retarded taxes and insurance?? fine go ahead..ill keep my money..|||The medieval Christian church also considered interest evil; while understanding that it was necessarily to keep a flow of capital through the economy.
In the medieval case, Christians allowed Jews to carry out this activity, since interest was %26quot;sinful%26quot; and a large part of Christianity%26#039;s early history was anti-semetic....this was fine in the eyes of Church leaders.
There is no one to carry out this role in Islam so they have to devise another way to get lenders the required return on debt.|||what do u mean profit making is evil?
according to islamic sharia, INTEREST is haram(forbidden)
we r not supposed to pay/take interest|||Dude, the words %26quot;Islamic bank%26quot; sounds like %26quot;Islamic wine%26quot; or %26quot;Federal reserve%26quot;, no such thing....just a name to mislead us.|||look i%26#039;ll trade you these four shiny quarters for that dull 50 dollar bill|||you don%26#039;t get it mate
the trading is legalized, cos that way people would cover their cost of making a product, and therefore spend what they earn on neceesities needs and other needs. if u produce a good at 50 dollars u wont sell it at 50 dollars cos u wont make profit out of it.
however, the interest , borrowing money from an institution in other word money trading, creates trouble and it%26#039;s harmful to the individual. people would be in debts, you cant pay the debt on time , the debt increases and so on. it%26#039;s an evil act. the lender is benefiting it from this act, and the borrower is struggling to pay back the rapidly increasing debts.
hope the answer is clear x|||You are completely misinformed. Check these out:
http://search.ft.com/ftArticle?queryText...
http://search.ft.com/ftArticle?queryText...
Basically, Islamic banking and finance are going to save the world economy!|||Banking is not banned by Islam. What is banned by both Islam and Christianity is usury.
Most people believe usury is the lending of money at interest. This belief is totally false. Usury is the practice of lending money at interest for other than profit making ventures.
Simply put, borrowing money to buy your new home that is not rented or used to turn a profit is usury. Borrowing money to buy a home you are going to rent for a profit is NOT usury, even if the interest is exorbitant.
Usury should be banned by all countries. Legal usury has turned Western populations into one of the most indebted, dependent and spoiled lot in known history.
I was thinking of opening an online saving account with IceSave as the interest rate is 6.30 %. How safe is your money here as this bank and ICICI are not signed up to the banking code of practice here in the UK?
What about your money going missing or identity being stolen.
I have the full Macafee suite on the PC to stop spyware and all that but what happens if the money walks, do you get it back?
How safe are online saving accounts?student finance
I cannot speak to the banking in the UK, but here in the US the banking regulations fall under the FDIC. I would not trust a financial institution which is not FDIC insured, at least for basic savings. I would probably take a slightly lower rate and go with an institution you know and trust.
How safe are online saving accounts? loan
check to see the bank is insured and up to what deposit level. Also, make sure that the web site is secure (starts with httpS://), and has a lock icon displayed when you log on. I bank on line in USA and have never lost a penny.
1. The sum of 3 consecutive even integers is 162. Find the integers.
2. Three times the smallest of three consecutive even integers is two more than twice the largest. Find the integers.
3. The sum of three consecutive odd integers is 81. Find the integers
4. A child%26#039;s piggy bank contains 44 coins in quarters and dimes. The coins have a total value of $8.60. Find the number of quarters in the bank.
6. A coin purse contains 25 coins in nickles and dimes. The coins have a total value of $1.65. Find the number of dimes in the purse
7. A sofa costing $320 is sold for $479. Find the markup rate. Round to the nearest %.
8. A digitally recorded compact disc has a selling price of $18.90. The markup rate is 40%. Find the cost of the CD.
9. A markup rate of 25% is used on a computer that has a selling price of $2187.50. Find the cost of the computer.
10. A car stereo system that regularly sells for $425 is on sale for $318.75. Find the discount rate.
Integers and such?credit union
(1.) Let x be the middle integer. Such as:
(x - 1) + (x) + (x + 1) = 162
3x = 162
x = 54, therefore the three numbers are: 53, 54, 55
(2.) Lex 2x be an even number, thus the sequence would be
(2x - 2), (2x), (2x + 2). Now, since three times the smallest number is two more than twice the larger number, we have:
3(2x - 2) + 2 = 2(2x + 2)
(6x - 6) + 2 = 4x + 4
6x - 4 = 4x + 4
6x - 4x = 4 + 4
2x = 8
x = 4
Now, when we plug in this x into the sequence of even numbers above, we get the integers: 6, 8, 10
(3.) Let 2x +1 be an odd number. Thus we have:
[(2x + 1) - 2] + (2x +1) + [(2x + 1) +2) = 81
(2x - 1) + 2x +1 + (2x +3) = 81
2x + 2x + 2x + 3 = 81
6x = 81 - 3
6x = 78
x = 13.
Now, when we plug in x=13 into the original equation, we get the integers: 25 + 27 + 29 = 81
(4.)
(5.)
(6.) To find markup rates, simply find the difference between the original price and the final price. Then, divide this number by the original price:
479 - 320 = 159. Now,
159/320 = 0.496875
Now, multiply by 100 to make it a percent: 49.6875%
Rounding to the nearest percent: 50%
(8.) First, turn 40% into a decimal: 0.40
Now, multiply the selling price by the percent (now a decimal):
18.90 ? (0.40) = 7.56
Now, add this number to the original price:
18.90 + 7.56 = $26.46
(9.) Same thing as (8.) - I%26#039;ll leave it for you as practice.
(10.) Let x be the discount rate. First, subtract:
425 - 318.75 = 106.25
Now, solve for x:
425x = 106.25
x = 0.25
Now, multiply by 100 to get the percent: 25%
Rockwell%26#039;s Thirty-Day Plan
By Llewellyn H. Rockwell, Jr.
When Eastern Europe broke free in 1989, we all realized just how little thought had been given to the transition from socialism to capitalism. Mises had told us the collapse was coming, and we should have been prepared.
As America comes to resemble a command economy, we need a transition plan here too. Yuri Maltsev proposed a %26quot;One-Day Plan%26quot; for the U. S. S. R. We%26#039;re not in that bad a shape (yet), so we could do it in 30 days.
DAY ONE: The federal income tax is abolished and April 15th is declared a national holiday. The 40% reduction in federal revenues is matched by a 40% cut in spending. The budget is still almost twice as big as Jimmy Carter%26#039;s.
DAY TWO: All other federal taxes are abolished, including the corporate income tax, the capital gains tax, the gasoline tax, %26quot;sin%26quot; taxes, excise taxes, etc. Businesses boom, and the few legitimate federal functions are funded with an inexpensive head tax. People who choose not to vote need not pay it. (Note: this was a mainstream view in the 19th century.)
DAY THREE: The federal government sells all its land, freeing up tens of millions of acres for development, mining, farming, forestry, oil drilling, private parks, etc. The government uses the revenue to pay off the national debt and other liabilities.
DAY FOUR: The minimum wage is reduced to zero, creating jobs for ex-federal bureaucrats at their market wage. All pro-union laws and regulations are scrapped. The jobless rate falls dramatically.
DAY FIVE: The Bureau of Labor Statistics, like the rest of the Labor Department, is sent to that big hiring hall in the sky. Without detailed economic statistics, future economic planners will be blind and deaf.
DAY SIX: The Department of Commerce is abolished. Big business has to make its own way in the world, without subsidies and privileges at the expense of its competitors and customers.
DAY SEVEN: The plug is pulled on the Department of Energy. Oil and gas prices plummet.
DAY EIGHT: All regulatory agencies, from the Interstate Commerce Commission to the Federal Trade Commission, are deep-sixed. Competition is legalized.
DAY NINE: HUD is squashed like a bug. There%26#039;s a buiding boom in cheap, private, apartments.
DAY TEN: The interstate highways reopen as private businesses. Road entrepreneurs price travel according to consumer demand. Using modern technology, drivers get bills once a month. Credit risks-and drunks and dangerous drivers- aren%26#039;t allowed on the road. Non-drivers no longer subsidize car owners.
DAY ELEVEN: Government welfare is wiped out. Bums work or starve. The deserving poor find a cornucopia of private services designed to make them independent. Private charity explodes, as the American people, already the most generous in the world, find their incomes almost doubled, thanks to the tax cuts.
DAY TWELVE: The Federal Reserve closes its open-market operations and stops protecting the banking industry from competition. But banks can now engage in all the non-bank financial activities previously forbidden to them. The business cycle, which is caused by monetary expansion through the credit markets, is liquidated.
DAY THIRTEEN: Federal deposit insurance is scrapped. All insured deposits are redeemed from federal assets, which include the personal assets of high-level government employees. The threat of bank runs forces banks to keep 100% reserves for their demand deposits, and prudent reserves on all other accounts. There are no more inherently bankrupt banks propped up by the government, at taxpayer expense, and no more bail outs.
DAY FOURTEEN: The shaky fiat dollar is defined in terms of gold, with the ratio determined by dividing the government%26#039;s gold stock by all existing dollars on that day.
DAY FIFTEEN: The federal government sells National and Dulles airports to the highest bidder, and stops all subsidies to other socialist airports around the country. All constraints on airline prices and service cease. It costs more to fly during peak hours than off-peak, but overall, air travel drops in price.
DAY SIXTEEN: All government regulations that create and sustain cartels are abolished, including those for the post office, telephones, television, radio, and cable TV Prices plummet, and a host of new and unforeseen services becomes available.
DAY SEVENTEEN: Centrally planned agriculture, as imposed by Hoover and Roosevelt, is repealed: there are no more subsidies, payments-in-kind, marketing orders, low-interest loans, etc. Farm prices drop. Entrepreneurial farmers get rich. Welfare farmers go into another line of work. The poor eat like kings.
DAY EIGHTEEN: The Justice Department shutters its anti-trust division. Companies, big and small, are free to merge 鈥?up, down, or sideways. Stockholders can buy any other company, or sell their stock to anyone else. Marginal producers can no longer battle their competitors with bureaucratic weapons.
DAY NINETEEN: The Department of Education flunks the constitutionality test, and is kicked out. Private charities set up remedial reading and writing programs for the former bureaucrats. Federally subsidized sex education and other anti-family programs go out of business. Local school districts become responsive to parents or close, pressured by a fast-growing private school sector (which many more parents can now afford).
DAY TWENTY: All federal monuments are sold, in some cases to non-profit groups based on the Mt. Vernon Ladies Association, which owns and runs George Washington%26#039;s home. The VFW buys the Vietnam memorial. There is much bidding for the Jefferson and Washington monuments. Nobody wants FDR%26#039;s, so it%26#039;s torn down and the land sold to a farmer. (With the federal government cut back to its constitutional size, much of Washington reverts to productive uses like agriculture, as in late 18th century.)
DAY TWENTY-ONE: The computerized financial and political dossier maintained by the government on every American is erased. The public wanders through the federal offices to make sure, in a reprise of the East Berliners%26#039; visits to Stasi headquarters.
DAY TWENTY-TWO: Equal rights are granted to all Americans, even members of non-victim groups. There is no affirmative action, no quotas, no set-asides, no public accommodations laws. Private property and freedom of association are fully restored.
DAY TWENTY-THREE: The EPA is cleaned out, with all %26quot;clean air%26quot; and similar big-government laws repealed. Ten thousand lawyers leap from their balconies. Private property is established in air and water. Americans harmed by pollution are free to sue the polluters, who are no longer protected by the federal government.
DAY TWENTY-FOUR: Americans are given complete freedom of contract, restoring rationality to malpractice and product liability law.
DAY TWENTY-FIVE: Government scrambles for more assets to sell (i.e., the National Zoo, also known as Washington, D.C.) to pay off the liabilities of the privatized Social Security system.
DAY TWENTY-SIX: Porno artists have to earn their own livings, as the National Endowment for the Arts tries to raise its budget through sidewalk painting sales.
DAY TWENTY-SEVEN: Foreign aid is outlawed as unconstitutional, unjust, and un-economic. Foreign politicians have to steal their own money. The World Bank, IMF, and United Nations close their super- luxurious doors.
DAY TWENTY-EIGHT: The American people are given the unrestricted right to keep and bear arms.
DAY TWENTY-NINE: The Defense Department is reoriented towards defense. American troops come home from all around the world. We adopt a policy of armed neutrality, remembering the Founding Fathers%26#039; teaching that we could not have an empire abroad and a constitutional republic at home.
DAY THIRTY: All tariffs, quotas, and trade agreements are put through the shredder. Americans can trade with anyone in the world, without barriers or subsidies. Japanese car prices drop an immediate 25%.
In just 30 exhilarating days, we have established the outlines of free market. Radical? Maybe so. Me, I can%26#039;t wait until Month Two.
__________
Llewellyn H. Rockwell, Jr., is president of the Mises Institute and editor of LewRockwell.com. rockwell@mises.org. This article appeared in The Free Market, March 1991.
30 days Plan to resemble a command economy in 30 days: free market and progress for all?heart rate
Scarey that someone would actually believe in this.
30 days Plan to resemble a command economy in 30 days: free market and progress for all? loan
Sounds like choas to me.|||hi check this link its useful
http://workathomedataentrysites.blogspot...
.|||Day 31: Autocracy is complete as the major corporations now have control of everything. If you%26#039;re very lucky, you have a job, if your somehwat lucky you can get along in serfdom. If, on day one, you had a job at McDonalds at minimum wage and a High School Diploma, maybe you%26#039;ll land on your feet as a slave.|||What is free economy? If it is suitable for USA-UK and other rich countries it is free market and progress for all.
Why these countries are not allowing labour market to be free from their control. We have chirp labour market so it will go to those countries where there is demand for it but the rich countries interprets the words %26quot; free market and progress for all%26#039; in their own way.|||The plan lacks one thing, the removal of current heads of state and immediate election of new popularly elected officials.
I have a home loan that I%26#039;ve made 8 payments on so far. The initial loan amount was for $139,650 at a simple interest rate of 8.5%. The interest accrues on a yearly basis. The bank calculated my monthly payment to be $1,130 / month. Alright, so I%26#039;m getting ready to sell the house and I call up the bank to ask how much I still owe on the house. They tell me $139,400. That%26#039;s only $250 that I%26#039;ve paid off after paying 8 payments of $1,130 (which is $9,040)! I%26#039;ve done this calculation: I = PRT, which gives I = $139,650 * 0.085 * 1 = $11,870.25 of interest this year. $11,870.25 / 12 = $989.19 of interest per month. This should mean I%26#039;m paying $1,130 - $989.19 = $140.81 of principle per month, which is about $1,125 over the course of 8 payments! So why have I only paid $250 towards the principle? What am I missing here?
What%26#039;s wrong with my simple interest calculation for my mortgage?credit counseling
Your payoff will always be higher than what your balance shows. This is because your lender is owed their interest up until the exact day that your loan is paid in full.
Also, the principal amount that goes to your loan every month is not correct, since interest is %26quot;front-end%26quot; loaded, meaning that the majority of your payment is interest for the first half of the loan, until it reverses and you start to pay more towards the principal than interest. If you%26#039;ve only made 8 payments thus far, your principal owed has barely been touched.
Hope this helps!
What%26#039;s wrong with my simple interest calculation for my mortgage?
loan
Ask the bank for a detailed breakdown/statement of your payments and how they were applied: interest, principle, escrow, etc.|||Amortization, you pay all the interest of the loan in the beginning of the loan, so yes its simple interest but its how the interest is amortized in the detailed payment break down also ask for an amortization schedule, also interest accrues daily.|||when they calculate the payoff amount for you they are adding in interest to the anticipated payoff date, so your payoff amount will be higher than your principal balance.|||Silly....they (the lender) will keep adding interest on top of interest on the remaining balance each and every month that the loan balance is not paid off! So each month you are paying off a new balance from the last month....review your Truth in Lending statement that is given to you (by law from lender) or email me so I can run an %26quot;amortization schedule%26quot; of payments for you....you CANNOT utilize a regular calculator for payments unless you have the %26quot;interest payment factor%26quot; formulas to use. email me at: mjmeansbusiness@yahoo.com|||their figures are right, you may not be considering impound taxes, impound ins on monthly basis.
additionally, figure your cancellation costs for prepay on an initial rate first quoted and see if any or all of these have been removed in addition to the interest and not come up with a new figure.
also go to the branch and get a printout of your account monthly, you can do that, and on that statement that you would normally get annually, will show all the disbursements and debits that were charged to your acct.
Don%26#039;t for get late charges, if you paid and it didn%26#039;t get there on time and you were chg-ed for being late and you forgot!|||I read the other answers and I think simplicity may help. A mortgage that is amortized over a period of time while keeping the payment constant requires a greater portion of the payment be applied to interest in the early years of the loan. As the loan nears maturity, a greater portion of the monthly payment will be applied to the outstanding principal.
ZAKAAT (Alms)
Ramadan is the month of giving and benevolence, the Messenger was more benevolent than a falling rain. Muslims are encouraged to emulate the Messenger of Allah (saas), to assess and pay their Zakaat during the month of Ramadan, thus combining the two pillars of Islam at the same time.
Zakaat (alms) is the name of what a believer returns out of his or her wealth to the neediest of Muslims for the sake of the Almighty Allah. It is called Zakaat because the word Zakaat is from Zakaa which means, to increase, purify and bless.
Who Should Give Zakaat
The obligation of Zakaat is mandatory on every Muslim who possesses the minimum Nisaab, whether the person is man, woman, young, old sane or insane. Because the proof of Zakaat in Al-Qur`an and Sunnah is general and does not exclude young or insane. Allah (SWT) stated that: %26quot;Of their goods take alms so that thou mightiest purify and sanctify them...%26quot; (Al-Qur`an, 9: 103)
Imam Ibn Hazim said that every Muslim young or old sane or insane needs to cleanse his or her wealth with Zakaat because of generality of the evidence. Anas bin Malik reported that the Messenger of Allah (saas) said: %26quot;Trade with the money of the orphan, lest it is eaten up by Zakaat.%26quot; (At-Tabraani) In another Hadith `Amru bin Shuaib related from his grandfather that the Messenger of Allah said:
%26quot;Whoever is entrusted with money of an orphan should trade with it and should not leave it sitting to be used up by charity.%26quot; (Tirmidhi)
The point of reference in these reports is that the Messenger (saas) urged the trustee on the estate of people who due to age or other reasons cannot manage their own financial affairs, to invest it in a business that will yield a return and make it grow until they are in a position to do so themselves. For, if proper investment is not made with an ophan%26#039;s inheritance, it will be depleted by charity, thus leaving the orphan with little or nothing.
The Nisaab
The Lawgiver, Allah has prescribed the minimum amount that is obligatory for Zakaat in different ranges of properties, and that minimum amount is known as nisaab. The reason for nisaab is to ensure that no one is forced to give Zakaat out of what he or she does not have, and that no wealth goes without Zakaat. Nisaab is also an insurance against the tyranny of the state to tax the poor and or the neediest as is the case in many countries. Nisaab is a reference point for the average Muslim who is not sure whether he possesses the minimum wealth on which Zakaat is obligatory. The wealthy need not worry about the Nisaab. Zakaat is obligatory on their entire wealth and must be paid out at the end of financial year that they set for their Zakaat.
The Nisaab will not be valid unless it fulfills two conditions:
1) The amount that has reached Nisaab must be the excess or surplus known as %26quot;faadil%26quot; from one%26#039;s essential needs such as food, clothing, housing, vehicles, tools and machinery that is used in business. The essentials for living are exempted from Zakaat.
Although what constitutes nisaab may change from one country to another, the amount that is needed for the basic needs of living in different countries is very similar, because the market place determines the prices, whether it is an official market or a non-official market. In the poorest countries people do without or live below the poverty standard, and that is why many go hungry or without basic essentials.
However, we must realize that Zakaat is an act of worship (ebadah) like Salaat. The element of intention (niyyah) is necessary, and we should not overly rely on state agencies to determine for us the requirements of our religious duty. The so called the %26quot;consumption basket%26quot; (that is poverty level as determined the social security administration which are updated every fiscal year) may not be the same as what Islam considers minimum Nisaab.
In the industrialized countries, the consumption basket may include items that are not necessarily essential, such as entertainment, extra clothing, variety of food, eating in restaurant or eating at home, owning more than one car as opposed to having three cars in the driveway, drinking water as opposed to juices, eating regular food or special %26quot;health%26quot; food. This is why I believe it is essential that we do not lose site of the fact that Zakaat is ebadah of wealth, like salaat and fasting. Non Muslims may consider all the things mentioned above as essentials while Muslims will not. Indeed, no Muslims in good standing will attempt to hide behind the label of consumption basket so as to evade Zakaat.
Nisaab eliminates the possibility of injustice or unfair treatment of the Zakaat payer. To suggest that if we do not follow the rules of International Monetary Fund or the arbitrary figures of social security administration or department of agriculture we will be doing injustice to the Zakaat payer is ludicrous.
2) Nisaab must mature, that is the money is not liable for Zakaat unless it has remained a full year in the possession of a person. This is the understanding of the majority of the scholars. Imam Abu Hanifah (raa) said: %26quot;What should be considered is the existence of nisaab at the beginning and the end of the Zakaat year set by the payer%26quot;. It does not matter if the nisaab money increases or decreases during the calendar year, as we will explain later.
This condition does not include farm produce, for it is due on the day it is harvested. Allah (SWT) stated: %26quot;... But render the dues that are proper on the day that the harvest is gathered...%26quot; (Al-Qur`an, 6: 141) According to Imam Al-`Abadi, (raa) Zakaat money is of two kinds: one that by its nature can not be invested and Zakaat of this category is due on the day of harvest. This includes all the farm produce that is liable for Zakaat. The other is wealth that can be invested in the hope of a good return, like cash, gold or silver, because the opportunity is there that cash in one%26#039;s hand can be invested for a good return. This includes currency investment, merchandise and livestock. Their Zakaat is not due until they have matured in one full year.
The proof of this condition is the Hadith related by Ibn `Umar that the Messenger of Allah (saas) said: %26quot;He who acquires property is not liable for Zakaat on it till a year passes.%26quot; According to Ibn Rushd (raa) this is the understanding of the majority of scholars, including the four rightly guided Khalifahs.
Zakaat Of Salaries
The condition of yearly term maturity applies to the commodities on which the Lawgiver said Zakaat is due, and this includes silver, gold, modern paper currency and livestock. Paper currency is analogous to silver, therefore, it takes the case of silver. There is no Zakaat on salary, earned income from wage earners or professionals or independent contractors until such money matures in a full year. There is no such thing as paying your Zakaat on the day you receive your paycheck. What the wage earner must know is that he or she can purify that money with charity (sadaqah) anytime they cash the paycheck. Allah (SWT) states: %26quot;And in their wealth and possessions (was remembered) the right of the needy, he who asks and he who (for some reason) was prevented (from asking).%26quot; (Al-Qur`an, 51: 19).
We can deduce from the concept of %26quot;yearly maturity%26quot; of wealth on which Zakaat is due as encouraging, among other things, saving on the part of the Zakaat payer, and enhances the chances for eradicating poverty, because if the poor receives his rightful share of Zakaat there will be the possibility that he can take Zakaat money and invest it and become a Zakaat payer instead of recipient. This possibility will be lost if he receives few Zakaat dollars every month. To say that the wage earner just brings his check home and spends everything on necessities and lives from check to check with nothing left over means the person is eligible for Zakaat.
Using farm produce as analogous to salary for Zakaat is wrong analogy. As Imam Al-`Abadi said, these are two different categories of money. $2, 500.00 cash can be invested by the person and expect a good return whereas it will be difficult to invest a bushel of corn. It can be traded as a commodity, which is what it is. This why we must know that analogy has rules that must be followed before it is applied. Certainly the jurists are unanimous that earned income, known as almal al-mustafadah, should either be added to existing money and wait until that amount reaches maturity and then give their Zakaat; or if there is no money on hand the time one possesses this money, he or she should wait one full year before assessing it for Zakaat.
Zakaat is one of the five pillars of Islam and a vital element in the religion of Islam. It is the twin sister of Salaat. In Al-Qur`an, Allah (SWT) stated: %26quot;So establish regular Prayer and give regular Alms; and obey the Messenger; that you may receive mercy.%26quot; (Al-Qur`an, 24: 56) Also, %26quot;...Establish regular Prayer and give regular Alms, and loan to Allah a beautiful loan....%26quot; (Al-Qur`an, 73: 20) %26quot;And they have been commanded no more than this: to worship Allah, offering Him sincere devotion, being true (in faith); to establish regular Prayer and to practice regular charity; and that is the religion right and straight.%26quot; (Al-Qur`an, 98: 5)
In a famous Hadith reported by `Umar Bin Khattab (raa), the Messenger of Allah (saas) responded to Jibreel (as) and said: %26quot;... Islam is to testify that there is no deity but Allah and Muhammad is the Messenger of Allah, to perform the prayer, to pay Zakaat, to observe fasting in Ramadan, and to make pilgrimage to the house of Allah if you are able to do os....%26quot; (Bukhari, Muslim)
There is consensus among Muslim scholars that it is mandatory on every believer who is financially able. Whoever knowingly denies this obligation, while he possesses the minimum amount, would be considered a disbeliever and a renegade from Islam. Whoever is stingy, or tries to cheat, is considered among the wrongdoers. Zakaat is mandatory on four categories of items.
1. Farm produce of seeds and fruits, such as wheat, barley, rice, dates, raisins, cocoa, pistachios, coffee, cashews. Allah (SWT) stated: %26quot;O you who believe, give of the good things which you have (honorably) earned, and of the fruits of the earth which We have produced for you...%26quot; (Al-Qur`an, 2: 267) Also: %26quot;... But render the dues that are proper on the day that the harvest is gathered...%26quot; (Al-Qur`an, 6: 141) Thus, these two verses and many others indicate that Zakaat is due on farm products that reached the minimum amount (nisaab). No farm product is liable for Zakaat unless it is a product that is considered as food and can be stocked or saved naturally without refrigeration. If the produce is perishable fruit, such as grapes, there is no Zakaat. But if one sells them they will pay their Zakaat on the profit earned when it matures.
The nisaab is 612 kilos, which equals 1,346.40 lb. There is no Zakaat on produce that is less than this amount. If the farm produce or crops grow dependant on rainwater, or without any man%26#039;s labor or irrigation, Zakaat due is one-tenth of the total. If it is grown by irrigation, then the Zakaat due is half of one-tenth of the total produce. There is no Zakaat on fruits like apples or oranges or vegetables which are perishable and need refrigeration for long storage, but they should be considered as any income if the profit earned from their sale reaches the amount of Zakaat, then Zakaat should be given.
2. Cattle, including camels, cows, sheep and goats, that are freely graze and are raised for trade and production. For Zakaat to be obligatory, the number must reach the nisaab. The nisaab of camels is five, of cows 30, of sheep and goats, 40. By freely grazing is meant the animal goes out to feed without the owner buying or bringing it feed or hay. If it is not a grazing animal, there is no Zakaat in the stock by itself. The stock will, however, be considered as articles of trade, then will be assessed for Zakaat as articles of trade when the profit earned from their sale reaches the amount by itself or in combination with other articles of the trade.
3. Merchandise and goods of trade and commerce. This includes anything that is obtained for the business of buying and selling: land, animals, food provisions, fabric, cars, spare parts, etc. This inventory is evaluated annually and assessed for Zakaat, whether the value is the same as the amount spent on it, more, or less. The owners of grocery stores, like any other business, must evaluate every item and give their Zakaat. Simple bookkeeping of inventory, orders, cash on hand, and credits, that is non-delinquent loans, will give one a good picture of the zakaatable assets. But if one is unable to account for everything in the store or shop, he should assess it according to his ability until he is sure that his conscience is clear.
There is no Zakaat on what is within one%26#039;s dwelling or property which includes food, drinks, furniture, houses, animals, cars, clothes and shoes. The only exception is gold and silver. There is no Zakaat on assets from rentals or lease, whether they are apartment units, taxi cabs, etc. That is, there is no Zakaat on the apartment units, buses or cars for rental like yellow cabs company or trucks for rental or equipments. But there is Zakaat on the proceeds or incomes from these rental assets if these assets reach the executable amount, either by themselves or in combination with other assets.
Business Activities
Many scholars are of the opinion that any business activity that brings any return to the entrepreneur or investor should be assessed for Zakaat. If the activity has a prescribed nisaab, such as gold, silver or paper currency, that nisaab is applied for Zakaat. But if the business has no declared nisaab, its nisaab is the nisaab of commerce, one reason being that most business activities are considered as commerce and because, in actual fact, it is not factitious business name, such as GM, Apple or GE that is taxed for Zakaat, it is the individual investor. We do not tax cooperations such IBM, Apple, GM or Rajihy Bank but the individual investors, share holders and owners of these corporations.
Indeed, there are enough rules in Zakaat books to cover all types of business activity, be it cash or risk investment. If the business activity is analogous to commerce, it should be assessed the same rate as commerce. To subject the business to a different Zakaat rate of 10%, which is the rate of farm products instead of its correct rate of 2.5%, the rate of commerce, is unfair and unjustified. Besides, there is no proof, even a weak one, to justify this unfair arbitrary taxation. The difference between 2.5% and 10% is high. The Zakaat system is not like a state revenue collection, but Allah%26#039;s `ebadah. However, if a business person decides to give more than 2.5% after deducting all the expenses including depreciation, Allah (SWT) will accept it from him.
4. Gold and silver, whether used for commerce or jewelry. Allah (SWT) states: %26quot;...And there are those who bury gold and silver and spend it not in the way of Allah: announce unto them a most grievous penalty. On the day when heat will be produced out of that (wealth) in the fire of hell, and with it will be branded their foreheads, their flanks and their backs. This is the (treasure) which you buried for yourselves: taste you, then, the (treasures) you buried.%26quot; (Al-Qur`an, 9: 34-35). By hoarding is meant refusal to give it in the path of Allah, which includes Zakaat.
In a hadith reported by Abu Hurairah (raa), the Messenger of Allah (saas) said: %26quot;For the owner or possessor of gold and silver who does not fulfill its obligation, on the Day of Resurrection it will be cast into sheets of fire and be branded on his forehead, side and back. Whenever it cools it is to be repeated for him in a day whose length is the length of fifty thousand years, until the judgement is rendered among the people.%26quot; (Muslim). By its obligation is meant assessing it for Zakaat. In another version: %26quot;No possessor of a treasure who does not give its Zakaat.%26quot;
Zakaat is mandatory in gold and silver, irrespective of its form: in coins, raw or nugget, or jewelry for wearing, or for rent, because of the generality of evidence of Zakaat without any detail. In a report by Abdullah bin `Amr bin `Aas (raa), he related that a woman came to the Messenger of Allah with her daughter. On the daughter%26#039;s wrist were two heavy gold bracelets. The Messenger asked her, %26quot;Do you pay Zakaat on this?%26quot; She replied, %26quot;No.%26quot; The Messenger said: %26quot;Would it please you that Allah will encircle you with two bracelets of fire?%26quot; The reporter commented that she took them off and threw them down in front of the Messenger, and said: %26quot;They are for Allah and his Messenger.%26quot; (Ahmed, Tirmidhi).
The Messenger%26#039;s wife reported that: %26quot;The Messenger entered into my house and saw in my hand a huge ring made of silver, so he asked, `What is this?%26#039; I replied, `I made them to beautify myself for you, O Messenger of Allah.%26#039; He inquired, `Do you give their Zakaat?%26#039; I said, `No,%26#039; or `Allah willing.%26#039; He said: `It will suffice you in the hellfire.%26#039;%26quot; (Abu Dawuud).
Zakaat is due on gold when it reaches the amount of (nisaab), which is 20 Dinaar. According to a hadith, the Messenger said: %26quot;No Zakaat on you is due until it reaches 20 dinaar.%26quot; (Abu Dawud) The Islamic dinaar (currency) is one mithqal, a unit of weight which weighs four and one quarter of a gram. Thus, the nisaab is 85 grams. This is equal to $30.00 US dollars.
Similarly, there is no Zakaat on silver until it reaches five oqiyah, because the Messenger said: %26quot;There is no Zakaat on less then five oqiyah.%26quot; (Muslim/Bukhari) Oqiyah is equal to forty Islamic dirhams. The nisaab is 200 dirhams. One dirham is equivalent to 595 grams. The zakaatable amount in both the gold and silver is a quarter of a tenth only.
Paper Currency
There is Zakaat on modern paper currency because it is equivalent to silver. During the early days of Islam, silver and gold were the currency of exchange minted into dirham for silver and dinaar for gold. Silver, not gold, had a larger circulation. Thus many scholars are of opinion that silver should be the standard for the paper currencies of today because that is more advantageous to the Zakaat payer, as it raises the minimum nisaab whereas gold lowers it. Although both metals are no longer circulated, they are still considered as a security against ever fluctuating paper money.
Silver should be used as a standard to assess Zakaat annually, not paper currency, even if the currency is hard currency like the US dollar, Yen and Deutch Mark or Pound Sterling. Because these currencies are backed by political decisions that may not have anything to do with the economy, the value and strength of this paper money depends largely on all haram usury system of interest rates.
Thus, the Zakaat payer should look up in the local newspaper%26#039;s financial or business section for the price of silver which is currently about $3.82. per ounce. The nisaab, then, is 596 x .04=28.80 ounce multiplied by$3.82= 90.91. therefore. The nisaab is about $100.00, as of December 17, 1991.
The nisaab should be based on the market value of the currency. If the money is hard currency, there will be no problem, but if the money is a non-marketable currency, like most currencies in the third world countries, the nisaab should be based on the black market, which realistically reflects the value of the currency on the money market. In any case, the silver rate should be used to assess the Zakaat.
If the nisaab is determined, the zakaatable amount is 2.5%, or .025 multiplied by the amount. For instance, if the zakaatable amount is $56,000.00 it will be 56,000. x .025 = $1,400.00.
Zakaat is due on gold, silver, and or paper currency, whether it is cash in hand or credit in the hands of borrowers. Zakaat is due on debts or cost of merchandize or rental money. If the borrower is a wealthy person that you know will pay back the debt, the lender (that is Halaal lending free of usury) should include that money in the assessment and give its Zakaat. However, one can delay Zakaat on a loan until he receives payment, then return its Zakaat for the past years that he was unable to assess for Zakaat. If the borrower is poor or is refusing to pay the debt, there will be no Zakaat on the money until the lender receives the money. Then he will assess it for Zakaat of one past due year, but there will be no Zakaat in the years before that.
There is no Zakaat on precious stones such as diamonds, or metals such uranium, regardless of their value. Gold and silver, of course are assessed for Zakaat. However, if a person possesses any of these stones or metals, he should give their Zakaat like any other articles of trade. If a person possesses diamonds or any other precious stones as an edge against inflation or for ornaments, there will no Zakaat on these.
How To Give Zakaat
Zakaat may be assessed and returned in two ways:
a) Make a record of all money earned, either daily or monthly, which has reached the nisaab and remains in the treasury. The Zakaat of that money would be due one year later on the same day the money was earned and reached nisaab. This means every month%26#039;s income must be set aside and assessed for Zakaat and so will be the case for the rest of the months. For instance, the income of January, 1991 will be assessed for Zakaat in January, 1992, and the income of February, 1991 will be assessed for Zakaat in February 1992, etc. This method of assessing Zakaat is very difficult because it entails complete bookkeeping of daily or monthly earnings.
b) The best way is to set a day or a month, preferably Ramadan, for your annual Zakaat return calendar, say Ramadan 1st, 1412. One year later on the same day Ramadan, 1413, your Zakaat is due and payable. Whatever is in the savings is due for Zakaat, regardless of whether all the amount in the savings reaches a year or not. For instance: if you have $20,000.00 in the savings account on the 1st of Ramadan, 1412 and one year later by the 1st of Ramadan, 1413 there is $50, 000.00, your Zakaat will be assessed for $50,000.00, that is: $50.000.00 x .025= $1,250.00. If, on the other hand, by the 1st of Ramadan, 1413 the amount in the savings is $15,000.00, your Zakaat will be for the amount in the savings, that is $15,000.00 x .025= $375.00. This method is the best because it is easy to assess, meets one%26#039;s obligation and relieve one%26#039;s conscience.
The Recipient Of Zakaat
Knowing who qualifies as recipient of Zakaat is an important aspect of Zakaat collection in Islam. Fortunately, Allah (SWT) has been merciful to us in that He Himself spelled out the people eligible to receive Zakaat. In Surah Tawbah He stated:
%26quot;Alms are for the poor and the needy; and those employed to administer (the funds); for those whose hearts have been (recently) reconciled (to truth); for those in bondage and in debt; in the cause of Allah; and for the wayfarer: (thus is it) ordained by Allah, and Allah is full of knowledge and wisdom.%26quot; (Al-Qur`an, 9: 60) In this verse Allah enumerated the people who deserve this divine welfare, and they are as follows:
The poor and the needy. These are individuals, and those under their care, to live on. By the poor and needy is meant the people whose income or salaries, or whatever material goods they have, fall short of the cost of living in a given environment and economy. The poor and the needy should be given what will suffice them and their families for one full year. The needy who want to get married and have no means should be given enough for this purpose, and so, too, the student who needs money for tuition, rent, food, and books. The working poor should be given supplementary Zakaat. But the wealthy, or any person with enough income to live on should not be given Zakaat, even if they asked for it. Instead, they should be warned and admonished for asking for what does not belong to them.
In a hadith reported by Abdullah bin `Umar, the Messenger of Allah (saas) stated: %26quot;A man keeps on asking others for something till he comes on the day of Resurrection without any piece of flesh on his face.%26quot; (Bukhari/Muslim). This hadith indicates a humiliating appearance before Allah (SWT) that awaits a person who asks illegally.
Some said: this hadith implies Allah will punish a person with the very limb, the face, that he used to impress on others to give him their money unlawfully.
In another hadith reported by Abu Hurairah, the Messenger of Allah said: %26quot;Whoever asks people for their money so as to get rich, he is asking for flames of fire. It is up to him to ask for more or less (he should beware).%26quot; (Muslim) This hadith indicates the severity of the punishment, the more one asks the more punishment, the less one asks the less the punishment.
In another hadith, reported by Hakeem bin Hizaam said: I begged the Messenger of Allah and he gave me. I begged again, and he gave me. I begged again and he gave me. He then said: %26quot;This money is green and sweet; he who receives it from people with a cheerful heart, Allah will bless him in it; he who receives it, with an avaricious mind would not be blessed in it. He will be like the person who eats without being satisfied; and the upper hand is better than the lower hand%26quot; (Muslim)
This hadith gave an analogy between money and green, ripened fruit that people love to eat. Thus, it indicates that both are greatly loved but easily finished. For money that is easy come easy go, one must be careful about the punishment that awaits the illegal eater. If a person asks for Zakaat and there are no signs of wealth, and he does not know that he should not ask, or a person who is well and able, who can work, but does not; if these people do not know that it is not permissible for them to ask, it may be given anyway.
In a hadith reported by Ahmed, Abu Dawud, and Nasa%26#039;e, two men came to the Messenger of Allah (saas) and asked for Zakaat. He looked at them closely and found them strong and able, he said, %26quot;If you want I will give you. But you should know that the wealthy or an able person who can work has no share in Zakaat%26quot; (Ahmad)
Those who administer the Zakaat department, assigning people for collecting, bookkeeping, making lists of people eligible for Zakaat, and a financial calendar. These people will receive Zakaat as compensation for their work, even if they are wealthy. This does not include a person who works as an agent for one or two wealthy people to take Zakaat for himself. They should donate their time for Zakaat disbursement and do it with honesty and truthfulness. If they can not, they should be paid or rewarded for their time. In a hadith related by Abu Musa Al-Ashi`ari (raa), the Messenger of Allah said: %26quot;A trustworthy Muslim executor is the one who executes completely what has been entrusted to him of Zakaat money in good faith.%26quot; (Bukhari)
That is, he will give the Zakaat money to any of the eligible recipients of Zakaat. He should carry on the duty voluntarily, but if he can not distribute the money without being paid, the Zakaat payer should pay him for his work. The payment for the service of distributing Zakaat should not come out of Zakaat money.
The new converts to Islam whose hearts we want to harmonize into the fold of Islam, either because their faith is weak or we are afraid of their being harmed, should be given Zakaat to strengthen their Iman or until we no longer fear their harm.
The bonds person who has contracted with his master to buy himself out of bondage deserve Zakaat and should be given enough to pay off their debt to the master and be freed themselves; similarly, Muslim prisoners of war if their freedom is tied to monetary payment, deserve Zakaat sufficient enough to secure their release.
On the other hand, if a pearson accidently killed someone and have no means to pay off the blood money, he should be helped from Zakaat funds.
The people in debt are of two kinds:
(A) The guarantor, who takes the responsibility of someone else%26#039;s debt so as to reconcile the two warring parties, to extinguish the fire of fitnah between them. If the person requests Zakaat money to pay off this debt he should be given it, which will encourage him to continue in this noble cause.
In a hadith reported by Qubaysah Al-Hilaaly (raa), he said I was under debt (hamaalah) and I came to the Messenger (saas) and begged him to help me pay it off. The Messenger told him: %26quot;Wait until we receive charity, so we will command that it be given to you.%26quot; However, the Messenger stated: %26quot;O Qubaysah, begging is not permitted except for one of three categories of people:
A man who has incurred debt (as guarantor to reconcile blood wit) for him begging is permissible till he pays that off, after which he must stop it; a man whose property has been destroyed by calamity which has smitten him; for him begging is permissible till he gets what will support life or will provide him reasonable subsistence; and a man who has been smitten by poverty, the genuineness of which should be confirmed by three knowledgeable members of his people; for him begging is permissible till he gets what will support him, or will provide him subsistence. Besides these three, Qubaysah, begging is forbidden for every other persons, and one who engages in such consumes that which is forbidden.%26quot; (Muslim)
(B) Whoever incurs debt and has no money to pay it back will be given from Zakaat to help pay his debt, whether the amount is large or small; or his creditor should be paid directly on his behalf, so long as it is paid off.
Zakaat can be given in the path of Allah. By this is meant to finance a Jihad effort in the path of Allah, not for Jihad for other reasons. The fighter (mujahid) will be given as salary what will be enough for him. If he needs to buy arms or some other supplies related to the war effort, Zakaat money should be used provided the effort is to raise the banner of Islam.
The wayfarer. This is the traveller who in a strange land runs out of money. He or she deserves Zakaat, enough money to take him back to his country, even if he is wealthy and can find someone to loan him the money. On his part, he should take with him on his trip sufficient money, if he is wealthy, so that he will not need Zakaat. Zakaat money can not be used to pay off other obligations, such as giving Zakaat money to people you are obligated to take care of by law; or Zakaat money can not be used to pay for hotel and food expenses.
It is, however, permissible to give Zakaat to a wife or family member, provided it is not part of their daily living expense money, but is needed to pay off a debt for one%26#039;s wife if she can not pay it. So is the case for one%26#039;s parents if they can not pay their debt.
Zakaat money may be given to members of the family for their expenses if one is not obligated to take care of them financially. The wife can pay off a debt of her husband with Zakaat money, because he may be among the eight eligible recipients and she is not obligated to spend on him as he is on her.
The eight eligible recipients of Zakaat can be denied their right to Zakaat without proof from Al-Qur`an or Sunnah. In a hadith reported by Ibn Mas`ud, his wife Zaynab heard the Messenger of Allah order women to give Zakaat, so she asked the Messenger (saas): %26quot; O Messenger of Allah, you commanded us to give Zakaat, and I have jewelry that I wanted to assess for Zakaat, but my husband Abdullah bin Mas`ud claimed that his son deserves it more than anyone.%26quot; The Messenger replied: Your husband Ibn Mas`ud is right. Your son deserves your charity more than anyone.%26quot; In another hadith reported by Salman bin `Aamir, he said the Messenger of Allah said: %26quot; Charity to the poor is only charity, but charity to the rest of kind is charity and maintenance of relations (sillah).%26quot; (Nisaee)
No loan should be written off as Zakaat because Zakaat is taken and given. Allah (SWT) said: %26quot;Of their goods take alms....%26quot; (Al-Qur`an, 9: 103) And in a Hadith the Messenger has been reported as saying: %26quot;Allah has mandated on you Zakaat to be taken from the wealthy and to be given to the poor.%26quot; Thus, writing off debt is not taken. For instance, If you loan a person money, you can not write off that loan as a Zakaat. However, it could be written off as sadaqah charity. Furthermore, loan, delinquent or not, is considered an absent money, therefore, it should not be transacted in Zakaat. for Zakaat is assessed only in cash in hand. Besides, debt money is valued less than cash in the hand, and using that money for alms is like exchanging good money for bad.
The assessor of alms should try to give his Zakaat to an eligible person, but if he makes a mistake and gives it to an ineligible person it is accepted. In a hadith related by Abu Hurairah, he said the Messenger said:
%26quot;A man expressed his intention to give charity, so he came with his charity and placed it in the hand of an adulteress. In the morning the people were talking and saying charity was given to an adulteress last night. The donor said: O Allah, to thee be the Praise - charity to an adulteress! He then again expressed his intention to give charity, so he went out with it and placed it in the hand of a rich person. In the morning the people were talking and saying charity was given to a rich person. The donor said, O Allah to You be the praise - charity to a rich man! He then expressed his intention to give charity, so he went out with his charity and placed it in the hand of a thief. In the morning the people were talking and saying charity to the thief. So the man said, O Allah to You be the praise (what a misfortune that charity has been given) to the adulteress, the rich and the thief! Then someone came to him and told him your charity has been accepted. As for the adulteress the charity might become the means whereby she might restrain from fornication. The rich man might perhaps learn a lesson and spend from what Allah has given him, and the thief might thereby restrain from committing theft. (Muslim/ Bukhari)
http://www.islamfortoday.com/beliefs.htm
Should we give money to poor ppl?credit repair
The answer is: YES
Please do not mind but I--and many other readers--- would nave preferred a shorter, more concise, question
Thank you for drawing our attention to to the need for giving in charity.
Should we give money to poor ppl?
loan
While I agree with the basis of the concept of CHARITY, I dont need a listing of DOGMA to point out the importance of it. To show charity is to show we are human and have compassion for our fellows. I have on many occasions taken the homeless into my home and helped them to get back on their feet. I dont need a %26quot;HOLIDAY%26quot; to tell me that I have to do it. Sometimes it has take a yrs or more to assist them. Sometimes, they dont want to make the effort to help themselves. Either way I MADE the effort. I dont need an Inman, priest or rabbi to tell me my obligation to my fellow man.
BTW, Only once did they take what was not offered. They took money or property that was not offered freely. I foreited well over $10,000 over the last 20 yrs in cash not to mention the food and lodging. I dont care about that. I have recieved my reward in the one%26#039;s that made it and went on to repay it by helping others. Most of the losses where emotional, very few were materiel.|||Check 1--- Check 2, we already are|||Is there a Reader%26#039;s Digest or %26quot;edited for television%26quot; version of your question? You had me in earnest for about three paragraphs, then my brain started malfunctioning and eventually turned to liquid and ran out of my ears.
Could it be that you weren%26#039;t really asking a question? Could it be that you were, instead, rather forcefully asserting your opinion, and you don%26#039;t give a flying hoot what anybody answers?
Your alleged question: %26quot;Should we be charitable?%26quot;
My brief answer: %26quot;Yes.%26quot;
You might win more converts to your faith (you%26#039;re pretty obviously recruiting, here) if you made the subject more approachable. I like to at least try to be open minded, but, man...|||if you have spare change......why not?............|||Listen don%26#039;t care what your believes our we should help someone if you have the opportunity and have the desire too. We should why not is the better question Jesus was all for it and so should we . Because no matter what anyone says he is the son of GOD whether some will believe it or not .|||I wish I had the time to read your long thesis. Can you just post a website for those who are interested?
From now on, I will neglect all those cut and paste articles. You are getting boring now...can%26#039;t you see?
