If you want to speed up your business in 2007, you'll need to fine-tune your business approach and utilise your resources to their full extent. However, like many business owners, you may be reluctant to tie up your capital. So where can you turn to if you're looking to finance major business-related purchases such as commercial vehicles, manufacturing machinery or IT equipment?
The answer is simple: asset finance. Asset finance works in such a way that the money you borrow is secured upon the business assets you acquire. For instance, if you're planning to invest in a fleet of commercial vehicles, the money you borrow for your purchase will be secured solely on those vehicles. This means no other part of your business will be committed to - or at risk from - the deal.
But asset finance has even more to offer: because this type of finance plan is secured on the assets concerned, it's very cost effective. It can, for example, release your business capital and free up your cash flow, allowing you to invest in new opportunities. Asset finance can also improve your return on investment and profit margins, as well as help you make the most of tax-saving allowances. And because many financial institutions can fund up to 100 per cent of the cost of your purchase, you can acquire the assets your business needs without risking your cash reserve.
Asset finance arrangements are also often fast and flexible: repayment can be tailored to match your cash flow, and deposits and repayments can be structured depending on your circumstances. Ultimately, solutions are tailored to suit the particular needs and objectives of your business - so the result is finance that works with - and for - you.
When it comes to expanding your business, a bit of extra capital can make a world of difference. Asset finance has the power to give you just that, enabling you to react quickly to new opportunities and keep ahead of the competition, whilst maintaining a minimum cost to your business. And there's always an expert financial team ready to cater to your unique business needs, so there's no reason to wait. Apply for an asset finance plan today - you can get a quote in minutes, have a decision in a few hours and secure funds within one day!
Get Some Idea About Unsecured Personal Loans
Personal loans can be regarded as a cutting edge financial assistance for people. As far as fulfillment of personal desires is concerned, personal loans work significantly. These loans are of two types; secured and unsecured. This article has discussed about unsecured personal loans.
Unsecured personal loans- the name clearly defines that the requirement of a security is nil in this loan option. Therefore, whether you are a homeowner or non homeowner, it won’t be counted in the loan lending process. Unsecured personal loans permit borrowers to borrow an amount ranging from £5000-£25000. A flexible repayment period, decided in between 5-10 years, is an added advantage of these loans.
A profusion of purposes can be covered up with unsecured personal loans. Let’s have a look at some of the common reasons, for which borrowers opt for unsecured personal loans:
• For investing in real estate
• For buying automobile
• For repaying debts
• For making holiday trip
• For covering wedding expenses and so on.
In a sense, the absence of security is a privilege for borrowers, as it minimizes the risk of lending amount, but due to this reason, lenders provide these loans at a relatively high interest rate. But some alternatives are there, which can be used to lower down the interest rate. To name a few, firstly we can talk about borrowers’ credit score. An outstanding credit score always facilitates borrowers to avail the amount with better rates and terms. Besides, a bit research can help borrowers to make the interest rate pocket friendly.
Having a bad credit score? You need not bother about that. Unsecured personal loans are also available for bad credit borrowers. Whether you have CCJ, IVA, arrears, default or bankruptcy, you can finance your dream with unsecured personal loans.
So, now finance your dream without taking any risk with your property. Avail unsecured personal loans and color your dream as the way you want.
Unsecured personal loans- the name clearly defines that the requirement of a security is nil in this loan option. Therefore, whether you are a homeowner or non homeowner, it won’t be counted in the loan lending process. Unsecured personal loans permit borrowers to borrow an amount ranging from £5000-£25000. A flexible repayment period, decided in between 5-10 years, is an added advantage of these loans.
A profusion of purposes can be covered up with unsecured personal loans. Let’s have a look at some of the common reasons, for which borrowers opt for unsecured personal loans:
• For investing in real estate
• For buying automobile
• For repaying debts
• For making holiday trip
• For covering wedding expenses and so on.
In a sense, the absence of security is a privilege for borrowers, as it minimizes the risk of lending amount, but due to this reason, lenders provide these loans at a relatively high interest rate. But some alternatives are there, which can be used to lower down the interest rate. To name a few, firstly we can talk about borrowers’ credit score. An outstanding credit score always facilitates borrowers to avail the amount with better rates and terms. Besides, a bit research can help borrowers to make the interest rate pocket friendly.
Having a bad credit score? You need not bother about that. Unsecured personal loans are also available for bad credit borrowers. Whether you have CCJ, IVA, arrears, default or bankruptcy, you can finance your dream with unsecured personal loans.
So, now finance your dream without taking any risk with your property. Avail unsecured personal loans and color your dream as the way you want.
Save Money By Shaving Your Bills Painlessly
If you are like most of us, you just let your finances evolve over time. You may have some money earmarked for savings every month, but like most of us, some emergency pops up, and you never save as much as you plan to save. Or you may have gotten that one credit card, just for emergencies, and then used it to pay an insurance deductible or medical bill, and then you just never quite got it paid off. These things are natural, and they almost seem to happen because our system sets us up so these things happen. However you can take a few simple steps to curb your monthly spending, and then try to use this money to improve your whole financial outlook.
First, what are your goals? Do you just want to climb out of debt, or are you saving for the retirement that you dream about? Maybe you would like to help your kids continue their education so they can realize a dream or two. If all of these financial goals, and more, look familiar to you, then take some comfort in the fact that you are hardly alone! Most of us are juggling multiple future plans for our money while still struggling to keep bills paid today.
However before you get too frustrated, take a moment to look at the assets you have now. You probably have more things accumulated than you even realize. Maybe you have more things than you even need, and servicing them is becoming a burden all by itself. If you haven't towed that boat to the lake in several months, maybe it is time to find a buyer. Not only can you get some cash to put towards other things, you can skip the storage and insurance bill. If you really get the urge to go sailing or fishing, you can probably rent a boat a few week-ends a month and find that is is much more convenient and cheaper for you than actually owning your own boat.
Is great-grandma's engagement ring still stashed in a safety deposit box? What if you could find a jewelry dealer who would give you enough money to pay off your credit card debt? And even if you don't have antique, precious jewels laying around, you probably have some unused electronics or clothing that would provide inventory for a large garage sale. I have neighbors who have pocketed $1,000 in one week-end, and also had the satisfaction of cleaning out their garages. They never missed the things they sold, and they felt better about having a bill paid off or some money in the emergency bill account.
Even if you do not have much to sell, you can still trim your bills. Gather your insurance and utility bills, and then start scoping out the competition. I, myself, shaved $50 a month off of my car insurance premium by comparing rates, and the whole process took me less than 5 minutes for initial quotes, and then 10 minutes for a phone application! That $50 a month adds up to $600 a year, and I forced myself to apply that money towards a credit card bill I had generated with an unplanned travel expense. I also found an electricity company that had economical rates, and also gave out frequent flyer miles every time my bill was paid. I saved some money on utilities, and am also working towards earning the points to get my next airplane ticket through a my points!
Of course, I also saved a lot of money by planning my grocery trips better. I am the most guilty one when it comes to stopping off at the supermarket for one little thing, and then returning home with bags of things I bought on impulse. It is certainly not my nature, but I am beginning to take a list to the store and only straying from it if I find an anticipated bargain on something I know I will use. I forced myself to sort out my pantry and realized that I had already purchased duplicate items that needed to be used before they were replaced. It might be fine to stock up on a few cans of soup or tuna. Those items can be healthy and economical snacks or light meals! But I also had three boxes of croutons and many duplicate herb containers. These were hardly stables that would starve my family if we ran out, and so I had to force myself to stay away from these aisles in the grocery store for a few weeks.
I also wasted a lot of money on produce that got spoiled before we ate it, so I am turning my weekly shopping trip into a couple of smaller trips. I buy one head of lettuce and one bunch of bananas, and then I just assume I will return in the middle of the week to replenish staples. Since produce is so expensive, but not something I want my family to do without, wasting it is almost like burning money in the fireplace. I also tend to buy more bags of frozen or canned vegetables, simply because it will not spoil so quickly. I love fresh vegetables, but I just buy a little for a treat that can be replenished when it is gone, instead of trying to buy enough for every meal I could think of planning.
I am sure that better planning at the grocery store saves me, at least $50 a week, if not more. I also tried to limit those trips out for fast food too. I can remember when I could take everybody to their favorite hamburger place for $10. If that were still true, it might almost be a reasonable thing to do whenever we feel like it. However, those bills were edging closer to $30. I could make the same burgers and fries at home, and probably in a healthier way, for the same $10 it used to cost. So now, if we feel the urge to get a burger, we try to eat at home first and then maybe just go out for some ice cream later.
I have outlined some ways that my own family tripped a couple hundred dollars from our monthly budget without really giving anything up. Furthermore, I am using the savings to pay off credit card debt, which will save us more money in the long run. I have earned a good credit score for paying bills promptly and do not have to service high interest. Can you look around your own life and find some ways to save money? If you are like most of us, you really can!
First, what are your goals? Do you just want to climb out of debt, or are you saving for the retirement that you dream about? Maybe you would like to help your kids continue their education so they can realize a dream or two. If all of these financial goals, and more, look familiar to you, then take some comfort in the fact that you are hardly alone! Most of us are juggling multiple future plans for our money while still struggling to keep bills paid today.
However before you get too frustrated, take a moment to look at the assets you have now. You probably have more things accumulated than you even realize. Maybe you have more things than you even need, and servicing them is becoming a burden all by itself. If you haven't towed that boat to the lake in several months, maybe it is time to find a buyer. Not only can you get some cash to put towards other things, you can skip the storage and insurance bill. If you really get the urge to go sailing or fishing, you can probably rent a boat a few week-ends a month and find that is is much more convenient and cheaper for you than actually owning your own boat.
Is great-grandma's engagement ring still stashed in a safety deposit box? What if you could find a jewelry dealer who would give you enough money to pay off your credit card debt? And even if you don't have antique, precious jewels laying around, you probably have some unused electronics or clothing that would provide inventory for a large garage sale. I have neighbors who have pocketed $1,000 in one week-end, and also had the satisfaction of cleaning out their garages. They never missed the things they sold, and they felt better about having a bill paid off or some money in the emergency bill account.
Even if you do not have much to sell, you can still trim your bills. Gather your insurance and utility bills, and then start scoping out the competition. I, myself, shaved $50 a month off of my car insurance premium by comparing rates, and the whole process took me less than 5 minutes for initial quotes, and then 10 minutes for a phone application! That $50 a month adds up to $600 a year, and I forced myself to apply that money towards a credit card bill I had generated with an unplanned travel expense. I also found an electricity company that had economical rates, and also gave out frequent flyer miles every time my bill was paid. I saved some money on utilities, and am also working towards earning the points to get my next airplane ticket through a my points!
Of course, I also saved a lot of money by planning my grocery trips better. I am the most guilty one when it comes to stopping off at the supermarket for one little thing, and then returning home with bags of things I bought on impulse. It is certainly not my nature, but I am beginning to take a list to the store and only straying from it if I find an anticipated bargain on something I know I will use. I forced myself to sort out my pantry and realized that I had already purchased duplicate items that needed to be used before they were replaced. It might be fine to stock up on a few cans of soup or tuna. Those items can be healthy and economical snacks or light meals! But I also had three boxes of croutons and many duplicate herb containers. These were hardly stables that would starve my family if we ran out, and so I had to force myself to stay away from these aisles in the grocery store for a few weeks.
I also wasted a lot of money on produce that got spoiled before we ate it, so I am turning my weekly shopping trip into a couple of smaller trips. I buy one head of lettuce and one bunch of bananas, and then I just assume I will return in the middle of the week to replenish staples. Since produce is so expensive, but not something I want my family to do without, wasting it is almost like burning money in the fireplace. I also tend to buy more bags of frozen or canned vegetables, simply because it will not spoil so quickly. I love fresh vegetables, but I just buy a little for a treat that can be replenished when it is gone, instead of trying to buy enough for every meal I could think of planning.
I am sure that better planning at the grocery store saves me, at least $50 a week, if not more. I also tried to limit those trips out for fast food too. I can remember when I could take everybody to their favorite hamburger place for $10. If that were still true, it might almost be a reasonable thing to do whenever we feel like it. However, those bills were edging closer to $30. I could make the same burgers and fries at home, and probably in a healthier way, for the same $10 it used to cost. So now, if we feel the urge to get a burger, we try to eat at home first and then maybe just go out for some ice cream later.
I have outlined some ways that my own family tripped a couple hundred dollars from our monthly budget without really giving anything up. Furthermore, I am using the savings to pay off credit card debt, which will save us more money in the long run. I have earned a good credit score for paying bills promptly and do not have to service high interest. Can you look around your own life and find some ways to save money? If you are like most of us, you really can!
Think Before you Apply for a Credit Card
If you check your mail, one item that most people are sure to see several times per month is an invitation to apply for a credit card. These offers have inundated us, whether you are a college student, a homemaker, or even a senior citizen. It seems that almost every bank and card company are in stiff competition to see who can offer their services to the most people as possible. However, before you apply for your next credit card it is important to take several things into consideration.
How Many Credit Cards are Enough?
People love to collect items that are associated with wealth and exclusivity; however one item that you shouldn't collect is a credit card. Having more than two or three can exacerbate finance issues usually due to the ease in which a person can borrow beyond their means. For instance, if a person has only two cards each with a limit of $3,000 each, the individual will most likely be able to climb out of a debt hole if both limits are maxed out. However, if you have five, six or more cards with a total limit in the tens of thousands of dollars, it is no longer easy for a person to climb out of this kind of debt hole; in fact it can usually take 5 to 10 years for a person to pay off their debts in many of these cases. And in some cases the only resolution is bankruptcy.
Having Several Credit Cards Can Have a Negative Effect on Your Credit Rating
Some financial experts suggest that having more than three credit cards may be a red flag to many creditors and thus negatively effect your rating. Lenders prefer customers with manageable debt, the more credit cards you have, the more debt you can rack up. Even if you don't use many of them, there is still a possibility that you can always start maxing them out and find yourself in debt.
Use Bank Debit Cards Instead of Credit Cards
There are much more advantageous financial tools available besides credit cards that are just as convenient. Debit cards are very similar to credit cards in that they do not require you to carry large amounts of cash around with you at all times, however they are tied directly to your bank account, which means besides a small yearly or monthly fee, there are no interest payments since you are purchasing items with your own money. Credit cards on the other hand are considered unsecured loans and each purchase you make also requires you to pay interest. This means that a purchase of $20 for a DVD, can end up costing you 50% or even 100% more in the long run after interest charges are added. It is definitely something to think about the next time you would like to purchase an impulse item.
How Many Credit Cards are Enough?
People love to collect items that are associated with wealth and exclusivity; however one item that you shouldn't collect is a credit card. Having more than two or three can exacerbate finance issues usually due to the ease in which a person can borrow beyond their means. For instance, if a person has only two cards each with a limit of $3,000 each, the individual will most likely be able to climb out of a debt hole if both limits are maxed out. However, if you have five, six or more cards with a total limit in the tens of thousands of dollars, it is no longer easy for a person to climb out of this kind of debt hole; in fact it can usually take 5 to 10 years for a person to pay off their debts in many of these cases. And in some cases the only resolution is bankruptcy.
Having Several Credit Cards Can Have a Negative Effect on Your Credit Rating
Some financial experts suggest that having more than three credit cards may be a red flag to many creditors and thus negatively effect your rating. Lenders prefer customers with manageable debt, the more credit cards you have, the more debt you can rack up. Even if you don't use many of them, there is still a possibility that you can always start maxing them out and find yourself in debt.
Use Bank Debit Cards Instead of Credit Cards
There are much more advantageous financial tools available besides credit cards that are just as convenient. Debit cards are very similar to credit cards in that they do not require you to carry large amounts of cash around with you at all times, however they are tied directly to your bank account, which means besides a small yearly or monthly fee, there are no interest payments since you are purchasing items with your own money. Credit cards on the other hand are considered unsecured loans and each purchase you make also requires you to pay interest. This means that a purchase of $20 for a DVD, can end up costing you 50% or even 100% more in the long run after interest charges are added. It is definitely something to think about the next time you would like to purchase an impulse item.
The Power of Passive Income
Think about income as falling into three categories - earned, investment and passive. These are known as income streams. An income stream pays you money on a regular basis.
Earned income usually comes from a job. It's the hours for dollars concept.
Investment income comes from interest on bank accounts, dividends or profits from stocks and bonds.
Passive income is money earned without the minute-to-minute, hour-to-hour and day-to-day time and effort. It can come from such things as royalties, a network marketing override check or income from rental property.
When considering possible passive income, be weary of promises about doing nothing and still making thousands of dollars. Do your homework!
Let's take a look at three ways (of many) to generate passive income.
Network Marketing -- A business opportunity where you distribute a product or service and recruit a team to duplicate what you're doing. As your team grows, the network marketing company pays you a percentage and bonuses based on your team's revenue.
Example of network marketing companies: Arbonne International, Melaleuca, Nikken, Shaklee and many, many more.
It takes time to build a team and develop passive income. Choose your company wisely; network marketing is not get rich quick. It takes time to build a business but once you've built your business, you'll begin enjoying the rewards of passive income.
Internet Affiliate Marketing Programs -- In a nutshell, it's about using one Internet site to drive traffic to another Internet site. You are rewarded with a commission when your referred customer makes a purchase.
Example of an affiliate program: Amazon.com
It takes a large number of referrals to generate substantial passive income, but if you have the Internet traffic it can truly become passive income.
Creative and Intellectual Property - Royalties are paid to you each time someone reads, listens or uses your authored books, music/songs, software, inventions or patents. It takes work to write, develop and/or invent but the benefit of this work can potentially generate passive income for generations.
Example of creative and intellectual property: In the early 1960's songwriter Paul Anka wrote the theme music for Johnny Carson's Tonight Show. Every time that song played, he was paid a royalty.
It is important to do your research. Find an attorney and other professionals who are trained to protect your creative works. There are many legal issues involved with intellectual property but it's certainly worth the time and effort.
Can you see how multiple streams of income, especially passive income, could produce a financially rewarding future? Financial freedom is having your money work for you.
Passive income allows you to leverage your time and money - you can do what you want to do, not what you have to do to bring in an income or additional income.
Earned income usually comes from a job. It's the hours for dollars concept.
Investment income comes from interest on bank accounts, dividends or profits from stocks and bonds.
Passive income is money earned without the minute-to-minute, hour-to-hour and day-to-day time and effort. It can come from such things as royalties, a network marketing override check or income from rental property.
When considering possible passive income, be weary of promises about doing nothing and still making thousands of dollars. Do your homework!
Let's take a look at three ways (of many) to generate passive income.
Network Marketing -- A business opportunity where you distribute a product or service and recruit a team to duplicate what you're doing. As your team grows, the network marketing company pays you a percentage and bonuses based on your team's revenue.
Example of network marketing companies: Arbonne International, Melaleuca, Nikken, Shaklee and many, many more.
It takes time to build a team and develop passive income. Choose your company wisely; network marketing is not get rich quick. It takes time to build a business but once you've built your business, you'll begin enjoying the rewards of passive income.
Internet Affiliate Marketing Programs -- In a nutshell, it's about using one Internet site to drive traffic to another Internet site. You are rewarded with a commission when your referred customer makes a purchase.
Example of an affiliate program: Amazon.com
It takes a large number of referrals to generate substantial passive income, but if you have the Internet traffic it can truly become passive income.
Creative and Intellectual Property - Royalties are paid to you each time someone reads, listens or uses your authored books, music/songs, software, inventions or patents. It takes work to write, develop and/or invent but the benefit of this work can potentially generate passive income for generations.
Example of creative and intellectual property: In the early 1960's songwriter Paul Anka wrote the theme music for Johnny Carson's Tonight Show. Every time that song played, he was paid a royalty.
It is important to do your research. Find an attorney and other professionals who are trained to protect your creative works. There are many legal issues involved with intellectual property but it's certainly worth the time and effort.
Can you see how multiple streams of income, especially passive income, could produce a financially rewarding future? Financial freedom is having your money work for you.
Passive income allows you to leverage your time and money - you can do what you want to do, not what you have to do to bring in an income or additional income.
Enough Of Everything For Everyone - That's Abundance
Let's start with the mind-set of abundance. What does "abundance" mean to you? I'm talking about abundance in all aspects of your life - personal, professional, spiritual and financial. If you sat down with a piece of paper, what would you write about the abundance you're experiencing today? In fact, why don't you do that and then come back and finish reading this article.
Let's explore how an abundant mind-set begins. The human mind is composed of two levels: consciousness and unconsciousness. Both work together to create and mold our thoughts, actions and personality.
Understanding and appreciating the unique function and characteristic of each "part" of the mind is vital to understanding how and why you're allowing (or not allowing) prosperity, abundance and wealth into your life.
Abundance is simply a concept. And, as a concept it begins in your mind and works its way out into your everyday life. You either believe you deserve to live in abundance, or you don't. Understanding the "workings" of your mind means understanding how you function on both an unconscious and conscious level. When you allow it to, your mind will be a tireless and powerful success and wealth-building ally.
Here's the difference between the conscious and unconscious parts of your mind:
The conscious part of your mind is the awareness you have of the world and your personal role in it.
~ The function of the conscious mind is to analyze and rationally tie everything together.
~ It's the tangible link between thought, reality and the action you decide to take.
~ Your opinions, likes and dislikes, judgments, prejudices and realities are filtered through the analytical conscious mind.
The unconscious part of your mind controls at least ninety percent of mental activity.
~ Your unconscious mind is a never-ending source for thoughts and memories.
~ Reality is stored and preserved in the "all-remembering" unconscious mind.
~ Your negative and positive thoughts, feelings, memories, emotions and reactions, bodily functions, stress, illness and health, rational and irrational thinking, decision-making and creativity are found in the powerful unconscious mind.
You're reading this article with the conscious part of your mind; you're absorbing it with the unconscious part. Choosing to believe, disbelieve, use or discard this article is based upon the beliefs you have stored in your unconscious mind. These day-to-day beliefs are based on your thoughts, memories and experiences from childhood through to this very moment.
Let me give you an example:
Are you afraid you'll run out of money? If you are, then somewhere on the unconscious level your belief system is based on lack. This is called "poverty consciousness."
Why is poverty consciousness so negative and financially limiting? Focusing on lack diverts your energy away from the positive aspects of prosperity. Focus on lack long enough and eventually your belief system about money, prosperity and abundance becomes filled negativity.
What can you do? Strive to focus your energy on the positives. Begin by analyzing your beliefs about the value you're placing on your time, energy and money making abilities.
Let's explore how an abundant mind-set begins. The human mind is composed of two levels: consciousness and unconsciousness. Both work together to create and mold our thoughts, actions and personality.
Understanding and appreciating the unique function and characteristic of each "part" of the mind is vital to understanding how and why you're allowing (or not allowing) prosperity, abundance and wealth into your life.
Abundance is simply a concept. And, as a concept it begins in your mind and works its way out into your everyday life. You either believe you deserve to live in abundance, or you don't. Understanding the "workings" of your mind means understanding how you function on both an unconscious and conscious level. When you allow it to, your mind will be a tireless and powerful success and wealth-building ally.
Here's the difference between the conscious and unconscious parts of your mind:
The conscious part of your mind is the awareness you have of the world and your personal role in it.
~ The function of the conscious mind is to analyze and rationally tie everything together.
~ It's the tangible link between thought, reality and the action you decide to take.
~ Your opinions, likes and dislikes, judgments, prejudices and realities are filtered through the analytical conscious mind.
The unconscious part of your mind controls at least ninety percent of mental activity.
~ Your unconscious mind is a never-ending source for thoughts and memories.
~ Reality is stored and preserved in the "all-remembering" unconscious mind.
~ Your negative and positive thoughts, feelings, memories, emotions and reactions, bodily functions, stress, illness and health, rational and irrational thinking, decision-making and creativity are found in the powerful unconscious mind.
You're reading this article with the conscious part of your mind; you're absorbing it with the unconscious part. Choosing to believe, disbelieve, use or discard this article is based upon the beliefs you have stored in your unconscious mind. These day-to-day beliefs are based on your thoughts, memories and experiences from childhood through to this very moment.
Let me give you an example:
Are you afraid you'll run out of money? If you are, then somewhere on the unconscious level your belief system is based on lack. This is called "poverty consciousness."
Why is poverty consciousness so negative and financially limiting? Focusing on lack diverts your energy away from the positive aspects of prosperity. Focus on lack long enough and eventually your belief system about money, prosperity and abundance becomes filled negativity.
What can you do? Strive to focus your energy on the positives. Begin by analyzing your beliefs about the value you're placing on your time, energy and money making abilities.
Wealth Inside Out
Wealthy to me is the ability to live comfortably and know my family will always be taken care of, no matter what. It's the ability to give financially to those causes I feel make our world a better place. And, it's the ability to be financially independent.
On average, many women are uncomfortable discussing money and even more uncomfortable managing money. How often do you hear women say words like rich or wealthy when describing their finances or goals?
Money and self-esteem go hand-in-hand. You can have a million dollars but if you don't feel you're worth a million dollars, you're still not financially independent.
Let me ask you a question and please take a few minutes with pen and paper to answer. Even allow yourself to feel the emotions of your answer:
If you had three million dollars in the bank right now, how would your life be different?
Look carefully at what you wrote. Are there more positives in your answer or negatives? Does wealth feel like a joyous emotion or a burden? In your mind's eye, can you picture yourself with three million dollars or did it seem like a fantasy?
Let's look at one of the emotional aspects women often deal with when striving for financial independence - guilt.
Simply put, women often feel guilty for having and enjoying money. Why? Because there are people, whether we know them or not, who don't have money. Could there be old programs in the mind saying, "Don't be selfish, share with your sister."
Do you know that studies have found that on average, we'll unconsciously allow ourselves to earn only within ten to twenty per cent of what our friends and family earn? Why do you think that is? You're right. It's guilt. It's the fear that we will not be accepted if we have more money than the other important people in our lives.
Guilt and self-esteem go hand-in-hand. The more secure you are within yourself, the more you'll allow yourself to earn and enjoy wealth.
Instead of looking at wealth and money in terms of guilt, how about looking in terms of how we can be of service to others. Can you think of wealthy women role models who are making a difference with their money? How about Oprah Winfrey? Do you think Oprah feels guilty about being a billionaire?
If you had three million dollars in the bank, how would your life be different?
How could life be more comfortable?
How would you feel knowing you'd never have to worry about money?
Which causes could you support?
Isn't it time we concentrate on the positives of our power, especially our financial power? Wealth truly begins on the inside, inside your heart and mind.
On average, many women are uncomfortable discussing money and even more uncomfortable managing money. How often do you hear women say words like rich or wealthy when describing their finances or goals?
Money and self-esteem go hand-in-hand. You can have a million dollars but if you don't feel you're worth a million dollars, you're still not financially independent.
Let me ask you a question and please take a few minutes with pen and paper to answer. Even allow yourself to feel the emotions of your answer:
If you had three million dollars in the bank right now, how would your life be different?
Look carefully at what you wrote. Are there more positives in your answer or negatives? Does wealth feel like a joyous emotion or a burden? In your mind's eye, can you picture yourself with three million dollars or did it seem like a fantasy?
Let's look at one of the emotional aspects women often deal with when striving for financial independence - guilt.
Simply put, women often feel guilty for having and enjoying money. Why? Because there are people, whether we know them or not, who don't have money. Could there be old programs in the mind saying, "Don't be selfish, share with your sister."
Do you know that studies have found that on average, we'll unconsciously allow ourselves to earn only within ten to twenty per cent of what our friends and family earn? Why do you think that is? You're right. It's guilt. It's the fear that we will not be accepted if we have more money than the other important people in our lives.
Guilt and self-esteem go hand-in-hand. The more secure you are within yourself, the more you'll allow yourself to earn and enjoy wealth.
Instead of looking at wealth and money in terms of guilt, how about looking in terms of how we can be of service to others. Can you think of wealthy women role models who are making a difference with their money? How about Oprah Winfrey? Do you think Oprah feels guilty about being a billionaire?
If you had three million dollars in the bank, how would your life be different?
How could life be more comfortable?
How would you feel knowing you'd never have to worry about money?
Which causes could you support?
Isn't it time we concentrate on the positives of our power, especially our financial power? Wealth truly begins on the inside, inside your heart and mind.
Nevada Unclaimed Money Now Totals Over 200 Million
As of September, NV's state treasurer, Kate Marshall confirmed that the state of Nevada is currently holding over $200 million in Nevada unclaimed money that belongs to the 700,000 citizens. And despite recent efforts, after much criticism in 2006, the Nevada unclaimed property program continues to take in more money than it returns.
According the Marshall, the state has increased its unclaimed money returns to 350-700 claims per week. That's nothing to sneeze at, and Nevada's state treasurer is to be commended, but when you consider that at that rate it would take 20-40 years before they'd ever return all claims currently listed, it's nothing to get too excited about, especially when you consider how much more additional money would come in over those 20-40 years!!!
The bottom line is that people can't rely on the Nevada to reunite them with their funds. The citizens have to take action themselves, if they ever want to be sure they're searching thoroughly and exploring all possible sources of NV unclaimed property. The state has no doubt stepped up their efforts, but there's a long way to go, and I think we can all agree that we the people are far more efficient than any government agency will ever be.
The following are the most common types of unclaimed property in Nevada: Stocks, Checking/Savings Accounts, Death Benefits, Vendor Checks, Over-Payments, Certificates of Deposits, Paid-in-full Life Insurance, Uncashed Checks, Unpaid Wages, Money Orders, Credit Balances, Refunds, Dividends, Commissions, Insurance Payments, Gift Certificates, Customer Deposits. If you or anyone you know have ever had any of these, you owe it to yourself to learn the proper way to search for missing money.
Each of the different types of unclaimed cash sources listed above has it's own unique dormancy period. This is the amount of time that must pass before the abandoned money is considered "unclaimed" and turned over to the state. Depending on the type of fund, the dormancy period can be anywhere from 1 to 15 years. This is important to know, because traditional online searches won't show a record unless the dormancy period has passed, and the state has taken control of your money.
Beyond the fact that the dormancy period has to pass before there will be any sort of online record of your money, there's also the matter of how often Nevada updates their unclaimed money listing. Records are not updated daily, so you can be confident in your search if you look and don't find anything one day, and the state just happens to not add your record until the next day, week, month, or year. This is why rule #1 of searching for missing money is to search frequently.
Additionally not all money belonging to Nevada citizens is in the state of Nevada. Some people may have lived in other states before moving to Nevada, while others may have had dealings with out of state entities, even if they didn't know it. For example, many companies have locations in a number of different states, but they are headquartered in just one state. The same goes for insurance carriers. Even if a company has locations in 20 states, including Nevada, if the company they use for employee insurance benefits is located in some other state, Nevada would never have a record of that money.
In addition to the issues raised above, there are countless problems that people often run in to when searching for unclaimed money in Nevada, which make it all the more important you get expert assistance in tracking down your money.
According the Marshall, the state has increased its unclaimed money returns to 350-700 claims per week. That's nothing to sneeze at, and Nevada's state treasurer is to be commended, but when you consider that at that rate it would take 20-40 years before they'd ever return all claims currently listed, it's nothing to get too excited about, especially when you consider how much more additional money would come in over those 20-40 years!!!
The bottom line is that people can't rely on the Nevada to reunite them with their funds. The citizens have to take action themselves, if they ever want to be sure they're searching thoroughly and exploring all possible sources of NV unclaimed property. The state has no doubt stepped up their efforts, but there's a long way to go, and I think we can all agree that we the people are far more efficient than any government agency will ever be.
The following are the most common types of unclaimed property in Nevada: Stocks, Checking/Savings Accounts, Death Benefits, Vendor Checks, Over-Payments, Certificates of Deposits, Paid-in-full Life Insurance, Uncashed Checks, Unpaid Wages, Money Orders, Credit Balances, Refunds, Dividends, Commissions, Insurance Payments, Gift Certificates, Customer Deposits. If you or anyone you know have ever had any of these, you owe it to yourself to learn the proper way to search for missing money.
Each of the different types of unclaimed cash sources listed above has it's own unique dormancy period. This is the amount of time that must pass before the abandoned money is considered "unclaimed" and turned over to the state. Depending on the type of fund, the dormancy period can be anywhere from 1 to 15 years. This is important to know, because traditional online searches won't show a record unless the dormancy period has passed, and the state has taken control of your money.
Beyond the fact that the dormancy period has to pass before there will be any sort of online record of your money, there's also the matter of how often Nevada updates their unclaimed money listing. Records are not updated daily, so you can be confident in your search if you look and don't find anything one day, and the state just happens to not add your record until the next day, week, month, or year. This is why rule #1 of searching for missing money is to search frequently.
Additionally not all money belonging to Nevada citizens is in the state of Nevada. Some people may have lived in other states before moving to Nevada, while others may have had dealings with out of state entities, even if they didn't know it. For example, many companies have locations in a number of different states, but they are headquartered in just one state. The same goes for insurance carriers. Even if a company has locations in 20 states, including Nevada, if the company they use for employee insurance benefits is located in some other state, Nevada would never have a record of that money.
In addition to the issues raised above, there are countless problems that people often run in to when searching for unclaimed money in Nevada, which make it all the more important you get expert assistance in tracking down your money.
9 Secrets To A New Financial You In 2008!
It also doesn't matter that the housing market is still in a slump and gas prices are crazy. Starting today, your focus needs to be on how to make more money and how to manage what you have coming in. Stop reading or listening to all the negative economic news; it does absolutely nothing for your spirit, or your bank account, and will keep you far away from becoming a millionaire.
Before I get into the 9 secrets, I want you to first take a self- assessment test. Ask yourself the following questions:
* Do I have the true DESIRE to become wealthy?
* Am I willing to do whatever it TAKES -legally-to become wealthy?
* Is it more important for me to have a flat screen television with all the latest technology or would I rather be wealthy? ·
* Is it more important for me to spend $5,000 on a vacation or would I rather be wealthy?
There's no secret to becoming wealthy. It's simply a matter of the day-to-day choices you make that determine whether you will become a millionaire. Eventually, you can have the flat screen television and spend $5,000 on a vacation. But, if you have to use your credit cards to get these things, then it means you can't have them right now. Your focus needs to be on investing in assets that create enough cash flow to allow you to buy the luxuries for cash, not on credit. That's what millionaires do.
So, here are the tried-and-true 9 Secrets To A New Financial You In 2008:
1. Make a committed decision to become wealthy. So many people talk about wanting to make more money or get out of debt, yet, they aren't committed enough to make it happen. And it's not a priority. You got to WANT this! Your spouse can't want it for you, nor can you parents. It's all up to YOU. So make the decision right now that you are going to learn how to invest and make your money work for you.
2. Develop a written financial blueprint. Nothing happens without a plan. The written financial blueprint will serve as your roadmap and force you to do something. It's amazing to me how we'll spend more time planning our vacations, yet won't take the time to plan our money. This year, sit down and write out exactly how much you need to earn, and how you are going to invest. Write down everything you want to financially happen in the different stages of your life-retirement, new baby, kids off to college, etc...
3. Put saving money on automatic pilot. Stop torturing yourself by trying to use your willpower to save money every month. Just have 10 percent of your net monthly income automatically taken out of your check and into a savings account every pay period. If your company won't do this, set it up with your local bank or online banker, such as ING Direct, which happens to pay out one of the highest yields on a savings account. And they don't require a minimum to open the account. www.ingdirect.com
4. Think twice before you spend money. Managing your cash flow every month is key. There is no need for you to be a walking billboard for designer clothes, shoes, sunglasses, or jewelry. The celebrities are not your role models; so don't try to emulate them. Do you really need a Beyonce gold cell phone? I don't think so.
5. Lay off the credit. If you can eat it or wear it, don't put it on your credit card. Let's go a step further, don't put anything on your credit cards that you can't pay off in two or three months. If you have a ton of debt right now, focus your energy on paying if off as quickly as possible. Remember, the interest you are paying, could be going toward a piece of investment real estate, that gives you an extra $500-$1,000 in income every month.
6. Make money with your money. It takes money to make money, but you don't need thousands of dollars to get started. Open an account with a mutual fund company that has no-load funds or a discount brokerage firm such as www.sharebuilder .com and start with $50 or $100 and consistently invest that amount every month. Build a diverse portfolio of stocks, mutual funds, bonds and real estate.
7. Earn passive income in your own business. Entrepreneurs are four times more likely to be millionaires than those who are employees. And you don't need to be a CEO of a fortune 500 company. It can be a part-time Internet business, or a catering business. Find something you are passionate about, do some homework and see if it can be a profitable business.
8. Contribute to your employer retirement plan. I read that only 25 percent of employees are contributing to their 401(k), 403 b), or tax deferred retirement accounts. BIG MISTAKE. If you haven't noticed, most companies are doing away with pension plans, so your retirement falls on you. And please don't depend on Social Security. It will not be enough. Put the maximum into your employer plan, especially if they have a matching program. That's Free money!
9. Last, and actually most important; Get mentored by millionaires. You need a coach, an advisor to walk and guide you through this. You can't do it alone. You need to form a good working relationship with someone that has done it and can show you how to do it. There is no need for you to reinvent the wheel, you can learn the mistakes and the strategies that they used to become millionaires and follow them, so that you too can become a millionaire. These are the role models you want to emulate.
Before I get into the 9 secrets, I want you to first take a self- assessment test. Ask yourself the following questions:
* Do I have the true DESIRE to become wealthy?
* Am I willing to do whatever it TAKES -legally-to become wealthy?
* Is it more important for me to have a flat screen television with all the latest technology or would I rather be wealthy? ·
* Is it more important for me to spend $5,000 on a vacation or would I rather be wealthy?
There's no secret to becoming wealthy. It's simply a matter of the day-to-day choices you make that determine whether you will become a millionaire. Eventually, you can have the flat screen television and spend $5,000 on a vacation. But, if you have to use your credit cards to get these things, then it means you can't have them right now. Your focus needs to be on investing in assets that create enough cash flow to allow you to buy the luxuries for cash, not on credit. That's what millionaires do.
So, here are the tried-and-true 9 Secrets To A New Financial You In 2008:
1. Make a committed decision to become wealthy. So many people talk about wanting to make more money or get out of debt, yet, they aren't committed enough to make it happen. And it's not a priority. You got to WANT this! Your spouse can't want it for you, nor can you parents. It's all up to YOU. So make the decision right now that you are going to learn how to invest and make your money work for you.
2. Develop a written financial blueprint. Nothing happens without a plan. The written financial blueprint will serve as your roadmap and force you to do something. It's amazing to me how we'll spend more time planning our vacations, yet won't take the time to plan our money. This year, sit down and write out exactly how much you need to earn, and how you are going to invest. Write down everything you want to financially happen in the different stages of your life-retirement, new baby, kids off to college, etc...
3. Put saving money on automatic pilot. Stop torturing yourself by trying to use your willpower to save money every month. Just have 10 percent of your net monthly income automatically taken out of your check and into a savings account every pay period. If your company won't do this, set it up with your local bank or online banker, such as ING Direct, which happens to pay out one of the highest yields on a savings account. And they don't require a minimum to open the account. www.ingdirect.com
4. Think twice before you spend money. Managing your cash flow every month is key. There is no need for you to be a walking billboard for designer clothes, shoes, sunglasses, or jewelry. The celebrities are not your role models; so don't try to emulate them. Do you really need a Beyonce gold cell phone? I don't think so.
5. Lay off the credit. If you can eat it or wear it, don't put it on your credit card. Let's go a step further, don't put anything on your credit cards that you can't pay off in two or three months. If you have a ton of debt right now, focus your energy on paying if off as quickly as possible. Remember, the interest you are paying, could be going toward a piece of investment real estate, that gives you an extra $500-$1,000 in income every month.
6. Make money with your money. It takes money to make money, but you don't need thousands of dollars to get started. Open an account with a mutual fund company that has no-load funds or a discount brokerage firm such as www.sharebuilder .com and start with $50 or $100 and consistently invest that amount every month. Build a diverse portfolio of stocks, mutual funds, bonds and real estate.
7. Earn passive income in your own business. Entrepreneurs are four times more likely to be millionaires than those who are employees. And you don't need to be a CEO of a fortune 500 company. It can be a part-time Internet business, or a catering business. Find something you are passionate about, do some homework and see if it can be a profitable business.
8. Contribute to your employer retirement plan. I read that only 25 percent of employees are contributing to their 401(k), 403 b), or tax deferred retirement accounts. BIG MISTAKE. If you haven't noticed, most companies are doing away with pension plans, so your retirement falls on you. And please don't depend on Social Security. It will not be enough. Put the maximum into your employer plan, especially if they have a matching program. That's Free money!
9. Last, and actually most important; Get mentored by millionaires. You need a coach, an advisor to walk and guide you through this. You can't do it alone. You need to form a good working relationship with someone that has done it and can show you how to do it. There is no need for you to reinvent the wheel, you can learn the mistakes and the strategies that they used to become millionaires and follow them, so that you too can become a millionaire. These are the role models you want to emulate.
Six Steps To Financial Freedom
Being a member of the International Marketing Group (IMG), I am so blessed to have learned the concepts of financial management at this early stage of my life. I may still be starting out, but at least I've got the fundamentals of financial management correct now.
I've always believed that God wants me to be responsible for my time, treasures and my talents. I have worked hard to manage my time and talents but it is my treasures that I have no idea of managing.
My best friend in high school introduced me to IMG just this year 2007 and I am glad I became a part of the company. My blog schedule for today is on financial management so I want to share with you IMG's 6 steps to Financial Freedom and how it has applied to me:
1.) Increase cash flow
a.) Earn Additional income
b.) Manage expenses
- I have strived to follow the first step by earning both active and passive income through IMG's system. I have also managed to teach part time and at the same time explore the possibilities of earning income online. With regards to the expenses, it is important that I list down all my expenses and work within a budget. That is what I had been doing now for months.
2.) Manage debt
a.) Consolidate Debt
b.) Strive to eliminate debt
- I've managed debt by resorting to lower interest rates. I have availed of balance transfer features. The regular interest charged by credit card companies is 3.5 % per month. But if you avail of balance transfer features by "transferring" your debt to other credit cards then you can avail of 0.99 % interest per month. I have discussed this extensively in my post entitled "Getting out of the credit card debt mess."
3.) Create emergency fund
a.) Save at least six months income
b.) Prepare for emergency expenses
- This is something I have not done yet, but will be planning to do in the months or years to come. Once debt is eliminated I can now start to save at least 6 months income. This is just to ensure that you are liquid enough in case there are some things that must be bought with in cash. This could also be used for emergency expenses.
4.) Ensure proper protection
a.) Protect against loss of income
b.) Protect Family assets
- I have achieved this through availing of insurance. Insurance policies protect loss of income by compensating the person insured and his loved ones if ever the person insured losses the capacity to produce active income because of death or accident. Protecting family assets is also achieved by availing of non-life insurance such as fire insurance etc.
5.) Build long-term asset accumulation
a.) Outpace inflation
b.) Reduce taxation
- This is normally what is known as the "investment" stage. If you are "investing" in something that is less than the inflation rate then you loose in the long run. Always make sure that you are investing above the inflation rate. For some who still does not understand what inflation rate means and how it could affect you I will probably discuss it in a future post. Most experts suggest that if you are in the Philippines you should invest in something that is above 7 % (Even if now the inflation rate is below 2 % +) Currently you cannot put your money in the bank an expect a return of above 7 % since interest for savings is way below 2 % and interest for time deposit accounts is from 3 to 5 %
Clearly, the only way to achieve this is through the stock market, mutual funds investments and other types of investments giving you a return of more than 7 % per annum.
With regards to taxes, remember that the government taxes income, not wealth.
6.) Preserve your estate
a.) Help Reduce estate taxes
b.) Build a family legacy
This is something that I plan to do probably 20 years from now. There are a lot of ways to achieve this. I would probably tackle this in another post since this is a somewhat complicated topic. ]
This is the overview of IMG's financial strategy which I have strived to religiously follow. The steps must be followed sequentially. It is advisable that you should go through them one step at a time. However since I have learned about this just lately, I have managed to invest without first eliminating my debt. I should have eliminated my debt first and investe later. But I believe that it still worked out for my advantage since the year 2005 to 2010 is considered by many experts as "a window of investment opportunities" considering that the stock market is at it's highest and the fundamentals of the Philippine economy are in place. I will discuss more on financial strategies on my future posts.
I've always believed that God wants me to be responsible for my time, treasures and my talents. I have worked hard to manage my time and talents but it is my treasures that I have no idea of managing.
My best friend in high school introduced me to IMG just this year 2007 and I am glad I became a part of the company. My blog schedule for today is on financial management so I want to share with you IMG's 6 steps to Financial Freedom and how it has applied to me:
1.) Increase cash flow
a.) Earn Additional income
b.) Manage expenses
- I have strived to follow the first step by earning both active and passive income through IMG's system. I have also managed to teach part time and at the same time explore the possibilities of earning income online. With regards to the expenses, it is important that I list down all my expenses and work within a budget. That is what I had been doing now for months.
2.) Manage debt
a.) Consolidate Debt
b.) Strive to eliminate debt
- I've managed debt by resorting to lower interest rates. I have availed of balance transfer features. The regular interest charged by credit card companies is 3.5 % per month. But if you avail of balance transfer features by "transferring" your debt to other credit cards then you can avail of 0.99 % interest per month. I have discussed this extensively in my post entitled "Getting out of the credit card debt mess."
3.) Create emergency fund
a.) Save at least six months income
b.) Prepare for emergency expenses
- This is something I have not done yet, but will be planning to do in the months or years to come. Once debt is eliminated I can now start to save at least 6 months income. This is just to ensure that you are liquid enough in case there are some things that must be bought with in cash. This could also be used for emergency expenses.
4.) Ensure proper protection
a.) Protect against loss of income
b.) Protect Family assets
- I have achieved this through availing of insurance. Insurance policies protect loss of income by compensating the person insured and his loved ones if ever the person insured losses the capacity to produce active income because of death or accident. Protecting family assets is also achieved by availing of non-life insurance such as fire insurance etc.
5.) Build long-term asset accumulation
a.) Outpace inflation
b.) Reduce taxation
- This is normally what is known as the "investment" stage. If you are "investing" in something that is less than the inflation rate then you loose in the long run. Always make sure that you are investing above the inflation rate. For some who still does not understand what inflation rate means and how it could affect you I will probably discuss it in a future post. Most experts suggest that if you are in the Philippines you should invest in something that is above 7 % (Even if now the inflation rate is below 2 % +) Currently you cannot put your money in the bank an expect a return of above 7 % since interest for savings is way below 2 % and interest for time deposit accounts is from 3 to 5 %
Clearly, the only way to achieve this is through the stock market, mutual funds investments and other types of investments giving you a return of more than 7 % per annum.
With regards to taxes, remember that the government taxes income, not wealth.
6.) Preserve your estate
a.) Help Reduce estate taxes
b.) Build a family legacy
This is something that I plan to do probably 20 years from now. There are a lot of ways to achieve this. I would probably tackle this in another post since this is a somewhat complicated topic. ]
This is the overview of IMG's financial strategy which I have strived to religiously follow. The steps must be followed sequentially. It is advisable that you should go through them one step at a time. However since I have learned about this just lately, I have managed to invest without first eliminating my debt. I should have eliminated my debt first and investe later. But I believe that it still worked out for my advantage since the year 2005 to 2010 is considered by many experts as "a window of investment opportunities" considering that the stock market is at it's highest and the fundamentals of the Philippine economy are in place. I will discuss more on financial strategies on my future posts.
Subscribe to:
Posts (Atom)
Posts
