Monday, December 31, 2012

Forex Arbitrage Trading - Opportunities Which Won't Last Forever

Foreign Exchange traders employ a plethora of strategies in their trading, and Forex arbitrage trading is one. The basic concept is to profit from inefficiencies in the market that are present for only a short period of time. The nature of this kind of trading is complicated, especially for the beginner, and usually requires high levels of leverage to make any serious profit.

Forex arbitrage trading involves trading in at least 3 different currencies, and 3 different currency pair combinations that you can derive from these. You would normally begin with one currency, trade that for a second currency and then that for a third, and eventually buy back the original currency. So, if before you placed a trade you had USD, at the end of all the trades you will again have USD.

Lets look at an example using the pairings EUR/USD, GBP/EUR and USD/GBP. When an inefficiency in the markets is identified, it gives us an opportunity to buy EUR with USD, then buy GBP with EUR and then buy back our original USD with GBP and finish up with more than we started. While these opportunities do come up everyday, they are only ever around for a short time.

We will assume the following buying exchange rates for our example:

EUR/USD: 1.533272
GBP/EUR: 1.3127
USD/GBP: 0.4967956

Now let's go through each trade in our example. We will begin with 0,000 and buy Euros: 500,000 / 1.533272 = 326,100 Euros. We take these Euros and by Pounds: 326100 / 1.3127 = ?248419.28. Lastly we take our pounds and buy back the Dollar: 248419.28 / 0.4967956 = 0043.23. So we have made a profit of .23.

When one of these opportunities to profit from the discrepancies between currencies arises, it is vital that an arbitrage trader executes their trades swiftly. There are literally hundreds of thousands of arbitrage traders around the world waiting to pounce on these opportunities, and when they all place the same currency orders within the same few seconds the markets compensate and the opportunity is gone.

You may be wondering then, how do traders actually identify these opportunities, given that the time frame they are available is so short and the calculations many and intricate. Forex arbitrage trading is made possible because software exists that is able to monitor the markets and make all the calculations. Because arbitrage trading involves taking advantage of an opportunity that is short-lived, you must ensure you have a live up to the second feed of FX rates and a good internet connection.

In our example we were able to make only .23 profit from 3 trades, many times you will find more than 3 trades is required. There is no real limit to the number of currency pairs and trades that can be involved in an equation. To actually make a profit using arbitrage, Forex margin trading strategies are important and you will need to leverage your account very heavily.

For the most part, forex arbitrage trading will generally only be a small part of an experienced traders dealings. For the inexperienced trader, arbitrage trading is not an ideal trading model to start with, and nor is it the best option to make a sustainable income from trading the Forex markets.

Saturday, December 29, 2012

Teacher Interview Questions And Answers

The need for teacher interview questions and answers will arise if you are either applying for the position, or you are hiring. Either way, take a look at certain important questions.

A teacher's job is an important one. There is absolutely no scope for mistake when hiring a teacher for your kids. Whether you are a principal or a parent, you owe it to the kids to have a good, reliable educator. But when do you know that the person you've chosen is the right one? If you can't find the answer to that question, this list of teacher interview questions and answers should help make a difference to you. Let's get started with a few teacher interview questions and sample answers.

Before we really go on, you must bear in mind that the nature of the questions have to be based on the level the teacher is being chosen for. For instance, kindergarten teacher interview questions will be way different than special education teacher interview questions and answers. It is also important that the person getting interviewed must be genuinely interested in this field, or else, you might just get stuck with the wrong person! On to the questions and answers now.

Teacher Interview Questions and Sample Answers

The following questions are good choices as teacher interview questions:

Why did you choose to get into this profession?
This question is the most evident of all questions asked at a teacher interview. Honestly, there is no right or wrong answer for such a question, but it is advisable to steer clear from being politically correct. Most people that get into teaching either have an affinity towards children and do not find more joy in anything other than spending their time in giving these little ones the opportunity to grow, and learn something new every day of their life. Another reason for a lot of people to want to devote their life to the field of teaching is inspiration from an old teacher who left a lasting impression on them, to the extent that they want to get into the same profession.

What are your greatest strengths and weaknesses?
Another question with a very high likelihood of getting asked, this question demands extreme honesty when replied to. Being truthful will be proof of your integrity and add to your credibility, thus adding to your chances of getting the job that you're getting interviewed for. While you may be someone who is ambitious and driven, don't go to the extremes when putting forth your ambitious streak. Also, try not to sound narcissistic. Remember, the fact that you are applying for position of a teacher means you put the children / students before yourself. There is absolutely no place for an inflated ego in a profession like such. At the same time, do not sound overly negative when discussing your weaknesses. That won't really help your cause either.

Tell us about your past achievements.
Again, do not lie! Don't forget, if you have past experience, your new place of employment is well in the position to carry out a background check on your professional records. Fibbing or tampering with records to look like an over-achiever is an absolute NO! Your honesty will be accepted way more than your need to look like a false success. In no way is it being suggested that pride be taken in mediocrity, but you'd much rather be honest and say something that will create a positive impact, rather than a negative one. If you do feel disappointed about not having much to your credit, you could well tell the interviewers that you are looking to change your track record, and that all you need is a chance to prove yourself. This kind of optimism could help you score the job way more than the lies would.

What do you think is the right approach towards discipline?
Obviously, you know that a teacher's position demands being a disciplinarian too. While being friendly and approachable towards your students is always a good idea, it is also important to know where to draw the line. The sanctity of the teacher-student relationship must not be broken. Respect is important, so you must make sure you create a respect worthy image while standing before the students. Another factor to be kept in mind is that at no point can you turn biased. As far as punishments are concerned, corporal punishment is a strict no. All you need is to be stern, not evil. The discipline will follow for sure.

How do you handle criticism?
A good question to ask, finding out if the teacher can handle criticism well is very essential. While the criticism will be mostly professional criticism, it is crucial that the teacher be able to handle being told that his/her method of functioning is not quite suitable and probably needs to undergo a change. Rigidity on the teacher's part in this aspect can hardly be accepted. After all, if the teaching style isn't doing the student's much good, the method demands a change.

The aforesaid was a rough idea of teacher interview questions and answers. Some other questions that would definitely be useful to ask are:
1. Why do you want to work for our school?
2. Are you comfortable with using various kinds of technology as a teaching tool?
3. Would you be able to handle a child who is socially isolated?
4. Why should you get hired when there are other candidates who are equally or better qualified than you are? What sets you apart?
5. How would you communicate with the parents of a difficult student?
6. What are your thoughts on team teaching?
7. Who / What according to you is a successful teacher?
8. How would you handle a student who is constantly late to class?
9. Who or what in life has been your best teacher?
10. Finally, do you have any questions for us?
I'd like to believe that the given set of questions will help you out the next time you're at either end of the interview. So, go ahead and get prepared.

Tuesday, December 25, 2012

Fully Integrated Accounting Software

We all know that keeping our different IT systems in sync with each other can be a constant battle. In particular, the finance or accounting system is the most reliant on information from other systems, whether it be HR, payroll or CRM. Despite this, many organisations are put off by full integration and go through the tedious process of re-keying data from one system to the core accounting platform. However, these methods have many drawbacks compared with true integration that delivers automated updating of information between systems in real-time.

Here are some of the benefits you could be missing out on.

Reduced accounting administration
With a fully integrated accounting system, you can save hundreds of hours spent copying data from one place to another. This isn't the only problem; staff need the discipline to remember to copy data across systems, it also takes a huge amount of time in re-keying, formatting and checking. It makes far more sense to enter the data once and let technology take care of the rest. With modern integration methods there's no need to worry about varying file formats; you can simply use what are known as feeders' to monitor activity in one application and ensure it is replicated in the core accounting software system.

Elimination of accounting errors
If you have a number of different people manually moving data, then it will inevitably result in multiple errors, duplication of records or even lost information. Through integration you can side-step the middle ground' where mistakes occur, making your finance data more up to date and reliable.

Quicker billing
Once your data starts being automatically updated in real-time, you can then prepare invoicing as soon as a product or service has been sold or delivered. Not only can you get the bills out faster, you can also be confident that the figures are accurate. Taking into account all the latest information from every department also means that no sales are overlooked and you bill for everything you sell.

Better credit control
Knowing who owes what and when can be crucial if you want to maximise your cash flow and chase outstanding debtors. By integrating your accounting software with other systems such as CRM or stock, you can create high level reports allowing managers or even account managers to spot customers that may be in trouble or identify those that should be given shorter or longer credit terms. Furthermore, if you use cloud accounting software, you can then access this information wherever you are.

Improved budgeting
If all your departmental managers have up to date information on expenditure then there are no excuses for over-spending. Having budgets that are always current means that both managers and finance professionals can keep a closer eye on purchasing, resulting in improved cash-flow and more effective future planning.

More accurate reporting and informed finance management decisions
An end of month report by its definition is out of date by the time it is compiled. Why not rely on daily reporting that can be created by managers themselves? With fully integrated accounting software, it is now possible to allow department heads and/or budget holders to see summary information, at a glance, on a range of subjects knowing that the facts and figures are based on information that has been gathered in real-time.

The business environment is more fragile than ever, so senior managers want the reassurance of knowing exactly what is happening in the business. By Having the most up to date financial data you can spot a problem with dwindling sales, outstanding debtors, soaring expenses or even a new sales opportunity, and take action before it is too late. This is made even more convenient through the use of online accounting software which can be accessed from anywhere in the world.

Save on IT costs
When older software systems become difficult to extract data from, it may be tempting just to replace them. However, rather than write off the investment, integration tools are capable of monitoring all types of third party applications regardless of the operating systems involved.

Sunday, December 23, 2012

Va Home Loans With Bad Credit: Special Qualifications And Tips

Serving the country as a member of the armed forces comes with many benefits. The 1944 Serviceman's Readjustment Act, which many also know by the term GI Bill, was created to help armed forces veterans to get ahead after their service time has ended. One such benefit offered by the GI Bill is VA home loan assistance. This program allows vets to purchase a home with a low or minimal down payment. The VA will guarantee 25% of the loan instead. Also, those with bad credit are also able to find relief through VA loans.

Gett a VA Loan: Meeting the Qualifications

The benefit of the VA home loan received through the Serviceman's Readjustment Act (GI Bill) is that there is a guarantee from the department of Veteran's Affairs (VA). This guarantee eliminates much of the risk associated with bad credit loans or low down payments. You can get a VA home loan with bad credit. However there are specific criteria that you need to meet as well. These qualifications include the following:

- No history of loan default within the last twelve months. Defaults in the distant past, though considered, can be disregarded if you have proven that you have reformed from your past mistakes.

- No bankruptcies on file in the past two years. Again, a bankruptcy on record will matter, but if you have made changes and allowed at least two years to pass, you can still get a VA home loan.

- Proof of current, gainful employment with a steady and reliable income. You need to display that you have the ability to pay for the home loan you seek.

Disabled Veterans

Armed service veterans who are currently disabled and receiving benefits due to their disability may still qualify for VA home loans with bad credit. This is because there are special additional programs that are offered for disabled vets. By speaking with a VA loan professional, you can see if you are able to get a VA loan with bad credit as a disabled veteran.

Improving Your Credit Score

Among the most important steps to take before applying for VA loans is making changes in your personal financial habits in order to increase the credit score you currently have. Simple steps that you can take in order to achieve this include consolidating debts and setting a clear budget to follow each month. Also, make sure that you have each month's payments clearly marked on your calendar in order to avoid late payments that may make a bad credit score go down even more.

Finding a VA Loan

Qualifying for a VA home loan is a simple procedure for most veterans. Any lender who offers VA sponsored home mortgages can help you with the details. The trick is to do the research to find lenders who offer VA home loans and to apply to each separately.

Many private internet lenders are able to help you get the loan you need and many even specialize in working with borrowers with bad credit. These private lenders can be accessed from the comfort of your own home and many will respond to your request immediately. As a veteran of the armed forces, you represent a very special customer and most private lenders will be happy to work with you to get a VA home loan with bad credit.

Friday, December 21, 2012

Pros and Cons of Unsecured Personal Loans

Unless you're a financial wizard, talking about loans can be pretty confusing. For example, do you understand the differences between secured and unsecured personal loans? Let's start with that basic knowledge before delving into the pros and cons of taking out an unsecured personal loan.

A secured loan is one that is backed by a lien or claim against some type of asset that's in possession of the borrower. These types of loans are most commonly preferred when the borrower's creditworthiness is questionable.

On the other hand, an unsecured personal loan doesn't involve any type of asset or lien. Instead, it's an agreement made between the borrower and the lender based completely on the borrower's promise to repay the loan. One main example of an unsecure loan is a credit card. The borrower's creditworthiness is deemed worthy enough to receive the loan, and then it's up to the borrower to repay the loanor have to deal with some nasty interest fees and buildup.

So what are the pros and cons of taking out an unsecured personal loan? Following are some of the advantages:

When you take out the maximum amount of an unsecured loan, you are then able to pay a lower interest rate.
Unsecured personal loans don't use your property or other assets as collateral. Therefore, if you're unable to repay the loan, you can at least breathe easy that you home and other assets are safe.
Unsecured loans' interest rates are fixed, meaning that you can easily plan for when and how to make the payments that are necessary to repay the loanunlike loans that could involve rising interest rates.
Approval for an unsecured personal loan can happen as quickly as within twenty-four hours. This is particularly advantageous if you need the money right away or are facing an emergency situation.
Many lenders offer borrowers the opportunity to obtain an unsecured personal loan online, which is extremely convenient and quick.

Now it's time for the cons:

Unable to make your loan payments? Then your loan could become defaulted, which means that the lender has the ability to garnish your wages in order to collect payments.
Unfortunately, the time period that you have to repay your loan is typically much shorter with an unsecured loan than it is with a secured loan. Consequently, you can expect your monthly payment to be much higher than it would be with a secured loan.
Typically, interest rates are much higher for unsecured loans than other types of loans. That's because most of the people who take out an unsecured loan don't have good credit.
Finally, unsecured personal loans may be just a tad too easy to getso much so that some borrowers may begin to use these loans as a crutch, getting themselves deeper and deeper into debt .

Now that you have the pros and cons of unsecured personal loans, do you think you'll take one out? Or will you opt to go with another type of loan?

One main example of an unsecure loan is a credit card. These types of loans are most commonly preferred when the borrower's credit worthiness is questionable .

Sunday, December 16, 2012

Invaluable Guidelines On Debt Aid Loans

Debt reduction loans are normally thought-about a close to-last resort in addition to a "financial savior" for those whose time and a focus is preoccupied by the stranglehold of debt. Loans themselves actually must be reserved for emergencies as a supply of buying cash, but actuality regularly tells us otherwise.

There are lots of different kinds of loans out there to us, and the common American takes out 2-5 loans over the course of a lifetime. This demonstrates that loans have, actually, turn out to be an important a part of the fabric of society. The allure of obtaining cash today slightly than saving for a large expense over the course of months or years is very tough to resist.

Loans, nonetheless, are actually not all detrimental, and can be of nice significance when a necessity is deep and affordability is out of reach. Necessities akin to an automotive for fundamental transportation, surgical procedure, dwelling, or roof restore may require dipping past current available resources.

You want a good amount of information to correctly handle a loan. Practicality is imperative when deciding among the many sorts of loans that may be chosen. The ensuing responsibility associated with taking over a mortgage may be one of the vital demanding and worrisome issues of your life.

There some worthwhile tips about debt reduction loans of which most individuals are usually not familiar. Debt relief loans are those prolonged to people to get rid of possibly unnecessary - and undoubtedly worrisome - money owed already owed. With the help that a debt relief loan brings, you may repay all your current loans by borrowing that amount from the debt aid company. That is sometimes referred to as debt consolidation.

There are several interesting elements of debt relief loans.

1. Debt relief loans are supposed for practically all who have debt. There are, nevertheless, pointers to the quantities that can be provided and the kinds of bills that they will address.

2. You don't essentially require an excellent credit score to qualify for a debt aid loan.

3. If you want to pay off your present debts quickly, a debt relief mortgage is without doubt one of the best options for doing so. You'll certainly reside a more peaceable existence by not having large money owed hanging over your head every month.

4. Debt consolidation and debt relief help to mix your debts into one so that there's only one cost it's a must to cope with each month. And the overall cost on that one mortgage will virtually at all times be less than the total of your different money owed combined.

Debt consolidation is the singular most popular solution to work towards changing into debt free. You may turn into financially stable in less time when using debt consolidation.

Tuesday, December 11, 2012

How to Get Out of an Upside Down Auto Loan

Getting upside down on car loan, sometimes also referred as underwater on car loan means your loan exceeds the current value of your vehicle or in other words you owe more on the loan than you could expect to get by car sale or trade-in deal. As you can't pay off the loan with the income from selling the car due to the negative equity in auto loan, so you're stuck with the car and the loan payments.

Of course, nobody likes being upside down on their auto loan whereby the car you want to trade-in is worth K and you still owe k on it. Despite the fact, almost 40% of the Americans end up being upside down on their auto loans.

Following are the reasons which act against the people to gain equity out of their vehicle while turning them upside down on their loan. However, being upside down can only be problematic to those who are looking to trade-in their car while owing on auto loan.

>>Low down payment or no money down A lot of borrowers avoid making down payment thinking of saving their cash on hand, but it ultimately adds on the interest amount.

>>Longer term Getting a car loan for five years or more can also increase your chances of owe more in interest than you will on the car. Thus, even if your payment seems affordable, in the true sense you are paying a lot more in interest.

>>Rolling old car payment to new car loan Some people with an intention to get rid of this situation transfer their old car's remaining balance into a new auto loan. And thus add extra debt on their new auto loan which makes them to increase their monthly payments while being upside down all over again.

>>Higher interest rate: While accepting vehicle loan, it may happen that you are forced to take a higher interest rate either due to bad credit or any other reason which leads to raise your payment to interest more than principle.

>>Paying high for car: This happens especially when you buy an automobile from a private seller without checking the blue book value, and end up paying more on your car. While also when you purchase a car you cannot afford.

How to get out of this situation?

Prepayment: Prepayment could be an excellent way to pay off the loan faster. However, you need to make sure that your current loan does not include any prepayment penalties that could restrict you from paying additional cash. Thus, you can make extra payments each month and can get rid from being upside down.

Refinancing upside down car loan: Car loan refinancing can also be a good option to lower the interest rates while redefining your loan terms such as shortening your term period which can help you from being upside down. However, sometimes lenders does not provide you traditional refinance car loan, in such a case you can opt for a home equity loan which is a type of secured loans and have comparatively lower rates. Getting this loan can help you to pay off your loan quickly without spending extra cash.

Avoiding the situation in future:

# Making the down payment (at least 20%). # Not having loan terms more than 5 years. # Prefer buying a used car as new cars depreciate much faster. # Keep your car loan payment limited to 20% of your income.

Sunday, December 9, 2012

Promoting Your Mortgage Business on Valentines Day

Although I don't normally advocate the traditional loan officer schmoozing of Real Estate Agents using DRS (donuts and rate sheets)...I do happen to like this idea.

On Valentines Day (February 14th) and only on that day...your local Einstein Bros Bagels (TM) in addition to their usually round bagels...makes bagels (by special order) in the shape of hearts. Yes...I did say hearts...it is Valentines Day remember!

Now, I will add a little disclaimer here: Although I don't know for sure, this offer is probably not available at all Einstein locations. So, check it out at your local store. You'll probably need to talk to a manager to get the details. Lastly, you'll need to place an order, as well as, pay in advance for the privilege of getting your hands on these heart-shaped bagels.

The reason I like this idea is that, I can specifically target a local Real Estate Office or two, as well as, a couple of CPAs and Attorneys offices using Valentines Day as my reason. There's no weekly or monthly on-going commitment here...just Valentines Day. All of these offices do have one thing in common...they all provide me a goodly amount of referrals and mortgage business throughout the year.

Since most folks aren't even aware that Einstein's provides this kind of service, this is an excellent way to leave a positive impression and a great way just to say "Thank You." Everyone in that office will take notice. Deliver your heart shaped bagels and a couple of smears (that's Einstein lingo for cream cheeses) on Valentines morning and include a flyer (or even 8 or 10 postcard size cards) with a big red heart that says: "We put our heart in everything we do." Don't forget to place your name, contact information, and company on the flyer or cards.

To get you started...you may down load a sample flyer and postcard from my Website in a zipped file. The documents are in Doc format so you'll need MS Word to open them. You may copy them, edit them, use them and/or, alter or modify them to suit your needs.

Here are a couple of observations about using a Valentines promotion like this: First, plan on going to work early that day. Not only will you need to pick up your goodies early...you'll need to have them delivered when the offices you've picked, open for business (or, as early as possible there after). You may even want to help set-up the little treat to ensure it looks good. Check the opening times of the offices ahead of time and plan your deliveries accordingly.

Second, this won't break your advertising and promotion budget. Remember, you're being extremely selective and you're only delivering your goodies to your very best referral sources and business partners. It may be one office or half a dozen offices...either way, it's an inexpensive and outside of the box (bagel box that is) promotion. Don't miss this great opportunity to promote your mortgage business.

Tuesday, December 4, 2012

Panama Banks Are The Most Secret in the World

Panama was once listed as a "non cooperative tax haven" but the tiny country has worked hard to shed itself of that outcast image. If you are interested in a Panama financial institution, you should educate yourself about the policies, processes, risks and features involved in doing business with a Panama financial institution.

Panama has recently tightened its anti-money laundering laws and has created a banking system that is extremely private and highly competitive, but it is monitored well by the international offshore banking community. Doing business with a bank in Panama is generally hassle free. You can rest assured that your assets are being managed in a reputable and safe banking jurisdiction.

Before the major reforms of the mid 1990s, Panama was home to over 150 offshore banks, but that number has been trimmed to around 80 banks. The remaining banks must adhere to strict banking and privacy regulations while at the same time ensuring that illegal activities are not allowed to happen.

Banks in Panama have many advantages over banks in other offshore jurisdictions. The only type of monies that are taxable in the Republic of Panama are those that are generated outside of the country. If you choose to incorporate your business in Panama, but you decide to conduct your business elsewhere, you can deposit all of your assets and earning into your Panama bank without being responsible for paying local taxes on your money.

Panama banks offer many banking services for the banking client that requires a number of different options for their business. There are three types of accounts that you can get at a Panama bank including; merchant accounts, personal accounts and business accounts.

Non-resident Panama bank customers can have Internet account access set up by the bank's management in order to access any necessary account information and in order to transfer funds to and from your Panama bank. It is also easy to apply for and receive a debit, ATM or credit card from a Panama bank to make access to your money even easier.

The majority of banks in Panama require that their potential customers have an initial minimum deposit which can be as low as 00 USD. Many banks also require that each account must maintain a minimum balance in order to avoid costly fees.

If you decide that a Panama bank is for you, you are able to choose many options. You can open a personal account or you can takes steps to incorporate an IBC or an offshore company. Be prepared to show your personal information and verify your identity by providing a notarized copy of your passport, reference letters and a drivers license or equivalent photo id.

Only you can decide if opening one of the many available accounts at a Panama bank is for you, but you can rest assured that Panama is no longer the place for shady business dealings. The Panama bank system has been cleaned up and offers savvy customers the opportunity to keep their money in a safe account while watching it grow with little tax burden.

Sunday, December 2, 2012

Different Types of Wood Pellet Stoves

Depending on the size and shape of the rooms in your home, you may want to give some thought to the kinds of wood pellet stoves that are available. It is also important to consider where the chimney is in your home. For the most part, any homeowner should be able to replace their existing heating system with wood pellet stoves.If you have a fireplace, you can purchase wood pellet stoves that will fit right in where the grate is. These stoves will also work well in archways, under mantles, or almost any type of recessed cavity in your home. If you have more than one fireplace in your home, or it is an especially large house, you may want to purchase more than one stove. You can even purchase wood pellet stoves that match the color scheme of your rooms. On the other hand, you might even want to purchase a stove that is bright red, and use it as a unique and charming accent piece. Aside from being functional, these stoves are likely to get the attention of any visitors that might see them.You can also purchase wood pellet stoves with other decor issues in mind. If you do not have a fireplace, there are stoves available that have brick facades. This makes wood pellet stoves look just like a real fireplace. Irregardless of whether you want red brick, or some other color, these beautiful stoves are sure to become the centerpiece of any room you put them in. Other than the fact these wood pellet stoves may not be recessed into a wall, they will still look very attractive.Many smaller homes do not have a fireplace, but they still have an intact chimney. For these homes, stand alone wood pellet stoves are perfect. Chances are, if you have furnace installed, you can replace it with these stand alone units. Considering the range of sizes available, you can most likely find wood pellet stoves that will fit in almost any area. Similar to the models that fit inside a pre-existing fireplace, stand alone units also come in a wide array of colors. You may even find wood pellet stoves that come with enough space on top to utilize for cooking foods.Finally, there are wood pellet stoves that include a boiler and central heating unit. These fascinating stoves often look just like a furnace. The big difference is they burn wood pellets, and not expensive oil. If you strongly favor central heating, or like using your heating system to obtain hot water, these types of wood pellet stoves would be ideal for your purposes.Chances are, wood pellet stoves can meet every home heating requirement that you have. From elegant decor to cost saving fuel efficiency, wood pellet stoves offer a number of advantages. In addition, the various styles of wood pellet stoves available on the market virtually guarantee that you will be able to find one that will fit into your home with ease.