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You Can Laugh at Money Worries - If You Gain These 7 Simple Skills

Posted June 11th, 2010 by SiteAdmin

Written by Bruce Hokin

Personal finance and business finance are based on the same principles - only the scale is different. Let's see how business control their finances and apply it to your finances with 7 simple skills.

Skill #1. Learn Where Your Money Goes (Business controls its spending)

This skill is a very easy one to master, all it needs a little discipline. Just get a little diary, keep it with at all times and enter each spending transaction into it for a whole month. Do not leave anything out. Every coffee bought while you were out, every bought work lunch, every magazine and every item of clothing. Look at it and see where your funds are really going. Then think what you could have done without. If it was a work-day Starbuck's Coffee (say $5) - that's worth $1,000 per year! What you could you do with that? That's a short resort holiday or you could put it aside for emergencies.

Once you have the months' spending list, then group the items into categories. You could use Food, Clothing, Transport, Rent/House Payments, Medical and Car Payments etc.....Read more »

Create your own Anti-Emergency Fund™

Posted May 20th, 2010 by SiteAdmin

Written by Cindy S. Morus

Do unexpected car repairs, quarterly insurance payments or those darned property taxes find you hard pressed to squeeze one more dollar out of an already stretched monthly budget? Or do you usually end up reaching for the plastic in your wallet to make up the difference? Those inevitable expenses can put less stress on your bank balance -- and your mind -- if you learn to expect them and save in advance.

Too often, irregular occurring expenses get left out of our financial equation. Our income stretches to cover the regular monthly expenses and the remainder trickles away toward little things like the morning espresso or lunches out or a dozen other daily splurges. We choose not to think about the brakes that are getting spongy or the plumbing that's beginning to make strange noises. And we end up riding a financial roller coaster, never knowing when the next crisis will throw us for a loop.....Read more »

Identity Theft: How to Protect Yourself

Posted April 5th, 2010 by SiteAdmin

Written by Chemain Evans

Identity theft encompasses a wide range of deception, from a stolen credit card used to charge purchases to an existing account, to stolen information used to impersonate the victim, open new accounts (even ones for utilities), and rack up thousands of dollars in debt.

With over 500,000 new cases each year (and some say upwards of 900,000), identity theft is one of the fasting growing crimes in America. In many states it isn't even illegal, or hardly punishable if it is. Often the perpetrator goes uncaught and unpunished. Worse still is that it takes on average 12 months for the victim to realize he is a victim and by then it may nearly impossible to climb back out of the black hole of damaged credit, costing hundreds of hours and hundreds of dollars to try to fix it.

Sadly, since much of this goes unpunished, companies often write off the bad debt and then charge you and me higher interest rates and fees to cover their losses. So we all are indirect victims of identity theft. The more vigilant we become, the better off we will all be.....Read more »

Taxes, Taxes, Taxes: Who Really Pays The Most?

Posted March 29th, 2010 by SiteAdmin

Written by David Berky

Each April our thoughts turn to the coming of spring and the coming of the tax man.

I hear a lot of people complaining about taxes at this time of year. Not just that they have to do their taxes and spend hours pouring over old records and trying to figure out indecipherable forms, but also musings and opinions about taxes in general.

I often hear the opinion expressed that businesses, property owners and "rich people" do not pay their fair share of taxes. And I agree. I agree that they don't pay their "fair share" as defined in most people's minds. But I also think that in certain circumstances, these businesses and people shouldn't have to pay any taxes.

That may sound a bit radical for many people reading this, but allow me to explain my reasoning.

First, why are we taxing businesses on their profits?....Read more »

Debt Reduction Companies - What to Watch Out For

Posted March 22nd, 2010 by SiteAdmin

Written by David Berky

Question:

I have recently heard of agency out there that will reduce your debt by 70%, just by them somehow talking to them [your creditors]? Do you know anything about this method? Is it legit? I have even heard it on my local radio station and they talk like it is totally legit. - Kevin

Answer:

It really depends on what they mean by "reduce your debt by 70%" and most likely it is "up to 70%" and not all customers can get a 70% debt reduction.

What could this mean?....Read more »

How to Rapidly Eliminate Debt

Posted January 18th, 2010 by AlanTutt

Here is a formula for quickly getting out of debt that I've seen from a couple of different sources.  It takes a little discipline to follow to the end, but it's well worthwhile.  Just imagine not having to pay out all that interest every month!  How much more could you afford to do if you didn't have to pay interest any more?....Read more »

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