Remote Deposit Capture (RDC) has been referred to as the most important development the US banking industry has seen in years.  This is a service that allows users to scan checks, transmit the scanned images and/or ACH data to a financial institution for posting and clearing.  The service definitely affords busy professionals the convenience of handling depository needs.

Shopping around has been made easy with wed sites like Amazon.com and Bizrate.com.  These resourceful websites not only keep busy professionals away from the hustle and bustle in stores and shopping centers, but they also serve as a resource for providing consumers with product reviews and guides.  At a glance, viewers can determine who is selling the product they need for the best bargain.  This is a great way to let technology work to our advantage.

Apps have become the new buzz word.  Downloading money saving applications on your smart phone is a great way to find out of product and travel deals, as well as, maintain your wealth.  Consumers can save as much as 90% by purchasing daily deals offered Groupon and Living Social.  Android users can also download coupon applications like GeoQpons to obtain local coupons daily.

We should run our personal finances like we run our successful businesses…Let technology work for you.  One way to ensure that bills are paid on time is to “Outlook them”.  Most currently use the scheduling component of Microsoft Outlook for appointments and events, but including reminders of the due dates for bills can assist with avoiding late payments and fees.  Outlook offers a feature which allows users to make appointments private and viewable by the user.

The capabilities of Smart phones have made leaps and bounds over recent years.  Users have the ability to input reminders for billing due dates on their calendars, receive notifications from creditors and financial institutions, make check deposits, and perform credit card merchant processing through smart phone devices.  These are only a few useful ways to take control of finances and let techonology work for you.  Researching the capabilities of your device or contacting your mobile service provider can help you save time and money.

1. Alimony/Child Support
   If you receive steady payments as part of a divorce settlement or for child support, you can also include this as part of your gross income. Just remember that lenders will want to see a copy of your divorce/court settlement verifying the amount of the payments.
2. Bank Statements
   In order to qualify you for a loan, most lenders will also ask you for copies of your bank statements. Ideally, they’d like to see a steady history of savings–or at the very least, that you’re not bouncing checks every month.
3. Credit Report
   Virtually every lender will want to see a copy of your credit report as part of the loan application process. The report lists all of your long-term debts, as well as your payment history. In general, they will require you to pay for the credit report (approximately $50), but if you have a recent copy, they may accept that instead.
4. Dividends & Investments
   Lenders will usually consider long-term investment dividends, as well as your investment portfolio, when evaluating your income.
5. Paycheck Stubs
   Remember that lenders are most interested in your average income. Not only will they want to see this month’s paycheck, but also how much you’ve been making for the past two years. Steady employment is also more attractive to lenders, so if you’ve been hopping from job to job, be prepared to discuss the reasons why.
6. Tax Records
   It’s always a good idea to save copies of your tax returns, especially if you’re self-employed. If you own your own business, it’s important to note that lenders generally consider your income as the amount you paid taxes on–not the gross income of the business.

A crucial step in starting your search for a new home is having a clear idea of your financial situation. By getting a handle on your income, expenses and debts, you’ll have a much better idea of what you can afford and how much you’ll need to borrow.