Author Archives: morgan

Best Credit Card Processing Companies to Help You Build Your Business

If you have your own business of selling things or services, you might want to simply consider accepting the payment through the credit card. That is because this kind of payment method is quite beneficial for many people who own a credit card. That means there will be more customers that you can get because you are accepting the payment through the credit card. Unfortunately, there are not many people who can get the best credit card processing companies because they do not know where to start. For those who have the same problem, there are some simple tips that you need to know when you are choosing the company for this kind of need.

For the start, it will be better for you to choose a company that already has their own application. This one is because most of the things want to be done on the smartphone that many of those people have. Therefore, if the company has an application that they can install on their smartphone, they will feel happier for this one. The second tip is making sure that the company offers you the simple user interface. This one is an option actually, because you will not need to worry if you are great with technology. However, for the technophobe, getting some help from the simple user interface from the application will be a great help.

The last but not least, you need to make sure that they can accept the payment from many different currencies. This one is one of the most important ones, especially if your business is selling the products or services around the world. That is because some of those people might want to pay with their own currencies. That is why this last tip is something that you really need to consider.

Debt Stacking How to Manage Money

Do you have a plan in trying to eliminate your debt? Are you tired of making the minimum payments on each outstanding balance and never being able to make any progress?I want to go through what debt stack is and how to manage money and get rid your debt as fast and reasonably as possible. Something that is more interesting is you can follow the debt stacking formula to help create the retirement you’ve always hoped for!

What is Debt Stacking?

I have discussed this in one of my previous post but I think this is worth another look. Debt stacking is an easy principle of eliminating all debts in a triangle type formula. It is a proven theory and it can be easy plus you can get rid of your debt two or three times more quickly then you may have thought possible.

HERE’S WHAT TO DO:

STEP 1: Create a list of all of your current debt. Put each amount in order from the lowest amount to the largest.

STEP 2: Set up an emergency fund in a savings account. The lowest amount you should have is $1,000. You just never know if or when you may need it.

STEP 3: Always make the minimum payments every single month that is required on all of your debt until the first one is paid off.

NOTE: If you usually pay extra on one or more of your balances each month, apply that extra amount to first item (of the lowest balance) on your list. (for example if you pay $200 extra each month on item number 3 switch that amount, regardless of interest to the lowest balance)

STEP 4: Once the lowest debt has been paid, use that money against the next lowest balance (the second one) on your list. This will help speed up the amount of time it will take to pay off the second balance.

STEP 5: Repeat that same process to the next debt or until all have been eliminated. Remember you are not spending any more money and it will accelerate the process.
REMEMBER: For this to work effectively you must not create any new debt.

Let’s look at a typical example:
TYPE: AMOUNT: REQUIRED MONTHLY INTEREST RATE:
PAYMENT:

Credit Card $7,500 $150 16%

Car Loan $10,800 $350 8.5%

Student Loan $14,600 $365 7.25%

Mortgage $139,000 $940 7%

TOTALS $171,900 $1,805 —–

If you only made the minimum required payments:

It would take 32 years to be completely out of debt.

In those 32 years you would have paid $205,485 in INTEREST for a total of $377,385.

If you apply the Debt Stacking Formula:

It would take just 12 years to pay off that same debt.

In those 12 years you would have paid just $86,343 in interest for a total of $205,485.

It may seem too good to be true but this is an easy process that works. You are not making any changes to your monthly payments, just a different approach. Every situation is different but debt stacking can work for anyone.
How Debt Stacking would help with retirement:

Once all of your debt has been eliminated, take the same total minimum required monthly payment of $1,805 and invest it. Do that each month for the next 20 years. You would have been paying that amount for another 20 years anyway. If its invested at 8% you will have $1,179,533 in 20 years. Nothing in your lifestyle has changed.

Basically debt stacking will dramatically reduce the amount of time it will take to pay off your debt and it will also reduce the total amount of interest you will pay AND it will help create the nest egg you have always wanted. That sounds pretty great doesn’t it?

When it comes to paying off debt you don’t always see results. It’s hard to stay focused and maintain hope when those large balances don’t seem to disappear until the last few years. The key is to pay as little interest as possible so you will have more of your money in your bank account down the road. I hope this post helped you understand debt stack and taught you a little more about how to manage money.

Until next time,

How to Get Finance Homework Help

In its core, finance explores the ways in which business entities, individuals and organisations utilises the resources over time. The study of money and the management of assets has been the focus of finance. Maximisation of shareholders wealth has the main focus of the financial manager. Decisions relating to investments, dividends and financing has been taken by the financial manager. Finance home work help provided by the online sites worth its salt. Though there are plenty of experts who provide online help for various topics in finance. It is quiet important to find the right guide who can lead the students properly.

The basic areas of finance is the time value of Money, bond valuation, stock valuation, dividend policy, capital structure, risk & return, cost of capital and capital budgeting.

The time value of the money is also processed in Finance. At the time of investment “The bird in the hand principle” is of much importance. One dollar in hand today is certain but one dollar which can be received tomorrow is less certain. This is the risk strategies in finance. Even with the consumption preferences, the preference level for the immediate consumption is stronger than the delayed consumption. As the saying goes “The promise of a bigger pizza next week counts less for a starving man.”

Though homework help with finance is quiet complex, there are many experts who work round the clock to serve the needs of the students.

The whole responsibility of managing the general accounting function, the internal control procedures, and the pay-out systems is in the hand of the finance and accounting manager. So, the students of finance and management need to put intensive care in learning the basics of finance.

This is Kate Vinslet having more interest to discuss about Homework help always.

How to Manage Money Eliminate Debt Step by Step

Is there a way to manage money and eliminate debt step by step? Perhaps if there were a absolute way we would all be doing it every day, week and month of the year. However, I have found several steps that can help and if you attempt to follow each as closely as you can you should be one step closer to eliminating your personal debt. You can begin tomorrow and it can change your life.

Step Number 1: Assess your current financial situation.

Are you currently in the red or black? Do you use your credit card to manage your money and daily expenses? This may be a definite indication that you are in a state of financial trouble. There is a free tool at my blog that may help quantify your current situation.

The Second Step: Analyze your spending habits.

Look at your weekly and monthly spending habits. Do you find that many of your purchases don’t need to be made? When discussing spending, there really is no ‘grey’ area. Some things we all need to purchase and there are items that we don’t. You might have to re-learn how to manage money if you discover that half of the cash you spend is on eating out, entertainment, fancy clothes, alcohol etc. Try this next step.

Step Number 3: Budget.

I’m pretty sure I’ve mentioned this once or twice on my blog but creating a budget is without a doubt the most key step to make. A simple way to begin to budget is to sift through your credit card bill and create list that lists what you MUST HAVE and what you DON’T NEED. This will only take a a bit of time but it will show you how to manage money in a very easy way. If you want, try to go through a few months of bills. The 1st thing you will probably discover that you could chop those bills by 50%! From here on in, when it comes to buying things in the future you will know exactly what purchases get the ‘green’ light for necessary spending and what gets ‘red’ flagged. Just like that you have created a basic budget.

Step Number 4: Eliminate those ‘Red Flagged’ purchases.

Step 4 will take the most determination, dedication and will power from you. The key of how to manage money is to understand where the money is going and why. You don’t need the finest fashions, or that expensive bottle of wine, football tickets or the newest pair of shoes if you are already having difficulty with your finances. The only things you really need are a roof over your head and 3 square meals. Make an effort to live a very modest lifestyle for a month and you will surely be shocked with how much cash you will save.

The Fifth Step: Find a low or no cost credit card.

You may have to search around to different companies but this is a very important step to take. The key to this is if you carry a balance or if you always pay it off each month. If you do have a an amount that carries over you need to find a credit card with a low interest rate. It is almost impossible to pay a balance if they charge you 18% interest or higher. That amount adds up fast. If you are lucky enough that you can make the payments, find a credit card with low or no fees. In my opinion you should eliminate your credit card altogether and only use it for emergencies.

Step Number 6: Consolidate your debts.

Plan this step carefully. The positive side is that debt consolidation offers the opportunity to lower your monthly payments, save on interest and may even help you get out of debt faster. But there are downsides that should be taken into consideration like not finding out the root of why you are in debt and stopping those tendencies that got you into debt to begin with. You may end up paying more in the long run with debt consolidation if you don’t change your habits.

There is another free calculator on my blog that can show you how to manage money through debt consolidation.

The Seventh Step: Seek financial advice.

This is straight to the point. You can’ know all of the things you need to about debt and the ways to eliminate it. These steps will help but it is still wise to seek face to face advice from a professional.

Step Number 8: Fix your credit.

Having bad credit is, well, bad. There are plenty of huge purchases you are going to make in the future and you must have a quality credit score to do so. Be sure to check your credit at your financial institution or even find out online with a company like Equifax. The sooner your credit is fixed the better.

Is there a way to manage money and eliminate debt step by step? I truly believe that if you take these 8 steps you will have the right tools to eliminate your debt. Good luck and I look forward to any success stories that you may have!

How to Manage Debt More Effectively

There are many people in today’s society that do not know how to manage their debt effectively. Because of this they are over run with debt repayments and can never seem to get on top of their finances. I want to show you how you can manage your debt more effectively so that you can begin on the road towards becoming rich.

Debt is a problem that is extremely prevalent in today’s society. Almost everyone knows someone who is overrun by extreme debt, and it is likely that you have some sort of debt that you could manage more effectively.

Debt is a complicated matter because often dealing with debt is an emotional problem, not just financial. If the way we managed our finances was purely logical then we wouldn’t be in debt in the first place. When managing debt we have to take our emotions into account. Often people are unable to follow a plan because emotionally it offers no reward.

The advice many financial planners give to people who are in a lot of debt is to consolidate their high interest debt into a low interest loan (such as a home loan). That way they only have one repayment to make and they can slowly but surely pay of their debt. The problem is they don’t take emotions into account. These people then find they have a cleared credit card and will go out and spend money on their credit card, putting them in even more debt than before.

Another problem people have with reducing their debt is that they are constantly trying to reduce their means by living frugally. The more debt they have the more frugal they try to live. This does not offer any emotion reward either as life is extremely tough as you are trying to pay off debt. Even once all of the debt is paid off people still do not find themselves rich.

A more effective way to manage debt is to focus on cashflow instead of of the figure of the debt. Your goal should be to get rich by increasing your means, and to pay off debt at the same time. This offers the best emotional reward, and it is financially logical. It is just a little more creativity and intelligence than the methods most financial planners recommend.

The goal is to generate enough passive income (income that you don’t have to work for) to pay for the interest on your debt, and to pay off your debt over time. Most people focus on putting a lot of money onto their debt to pay it off quickly. I am suggesting that you minimise the cashflow impact your debt has. Do what you can to lower the interest rates you have to pay on your loan, then lower your monthly repayments by paying just the interest (or the interest plus a little extra). Let me just state in the moment that I am not a financial advisor and I am not telling you that you should do this, I am just educating you of a method you might like to use. Always seek financial advise before choosing how to manage your debt.

Now you can use the extra money you would have used to pay off debt to invest in an asset that generates passive income. I like to invest in positive cashflow real estate. It offers the advantages of leveraging the banks money, and you get both capital appreciation and rental income. Now you can use the passive income to offset the interest repayments on your loan. The goal is to get your passive income to equal your interest repayments, plus a little extra.

Once you achieve this you can then forget about your debt, as your asset will be paying it off for you. This offers maximum emotional reward as you don’t have to live below your means, and you are building wealth. Eventually your asset would have paid off your debt completely and instead of being left with nothing, you now have an asset that continues to generate you income each and every month. You have increased your means and you now have increased you skill set so you can continue to invest and get richer and richer. Now doesn’t that sound like a more effective way to manage your debt?

Your next step towards becoming rich is to increase your financial IQ through education. By educating yourself in the area of finances you will be able to get a greater return on investment and you will be able to earn more with less work and less risk. Does that sound good to you?

How To Manage Finances While At College

Entering college must have been the dream of your life. When you were living with your parents, you might have often seen them worried about different things. You might have also noticed one thing that nearly all the worries would be related to money. Now that you have left home and stepped into college, the dilemma is a lot similar. The only difference is that it’s not your parents in the picture now, it is you. Your parents might be wealthy enough to run an IT business and gain security certification or security training for it, but when you are at college, you are pretty much on your own. Now that you are the one who has to make ends meet, here are some tips to follow.

The most successful option is to have a part-time job. Many students go to the college in the morning and work at different places when they are off from college. Many colleges might also offer you on-campus jobs. These jobs are really helpful because they offer to pay your tuition fee, your food plans or even your books expenditures. Another highly sought after option is to work at small dine-ins. Choose any job that suits your money requirements and your study schedule.

Setting up a proper budget is the key. Make an estimate of your total monthly expenses. Consider your utilities, insurance, bills, food, gas, etc. Grab a pen and a paper and start writing down the exact amount you are going to allot to your preferences. Make sure you write down the exact amount. Also, make sure that you do not spend more than that in any case. Be strict and stay disciplined about your budget.

Also set up an emergency fund. Life is uncertain and you never know when anything wrong might happen to your money schedule. In order to save it from any disturbance while you are unwell, set up an emergency fund, and make sure you do not take out money from it unless it is truly an emergency. A savings account is another step in maintaining your budget. Turn to the bank that suits your situation and your financial needs. A lot of banks offer college students different savings account with feasible benefits and interest rates.

Saving is what it is all about. Save money on every little thing that you buy. When you shop for utilities, go for wholesale rates, and opt for better buys. Similarly, you do not need to buy extra expensive clothes or shoes. Go for what is moderate in price and still good to appear. You can also save money on food. Instead of dining out regularly, eat at home. When you are going out with your friends, take special care in spending. If you think you cannot afford to head out, dare to say no.

The time you spend at college might be the best time of your life. Many people might complain of having limited money, but they cannot deny that despite being less fortunate with money, they still happen to enjoy. Enjoy your life at college but keep the saving spirit fresh within you.

8 Tips to Take Control of Your Finances

How to manage your finances is one of the important components of having a good life. Whether you have a smaller income or a better one, you will truly save yourself from a lot of worries and trouble if you know how to manage your finances well.

(1) Set priorities carefully plan your finances. Know your wants and your needs. Do not be confused with what you need and what you want. If you want to make big purchases like getting a home or a car, careful planning will be your key to make it a little easier.

(2) Make a budget. It is always helpful to make a guide on your spending for the next few months. Having a plan on spending is very much helpful for you to see how much you can afford to spend in a month. Make a list when you go to the grocery or when you go shopping and keep reminding yourself to stick to the list. Sticking to your budget today is definitely one good way of being free from financial worries later.

(3) Do not spend more than what you earn. Do not splurge on spending with your credit card if it is not clear where you will get payment for it the next month. Thinking about spending a lot today hoping you will get a job the next month is a no-no.

(4) Manage your debts. Pay your credit card promptly and do not go over your credit limit. Late payments and maxing out your credit cards will cost you expensively. When credit card companies are giving you lower interest rates, you might end up having to pay for higher fees. Late payments and overspending will likely stain your credit report in the end as well. Knowing how to manage your debts is indeed one huge step in learning how to manage your finances.

(5) Save. Make it a habit to save and include savings on your budget. Allot a percentage of your income as your savings. Having a good amount of savings regularly always helps you face your future with confidence and will save you from a lot of financial worries.

(6) Be informed. If you are borrowing money, making investments, or renting anything, always be informed with interest rates and the terms and conditions. When dealing financial transactions, it is always wise to read the fine prints. This way you will save yourself from financial troubles later on.

(7) If you want to invest your money, be wise. Know your market, know the feasibility and success rate of your investment. Especially these days where the economy is down, you also have to be careful where to invest your money. Find and study the opportunities with lower risks.

(8) Think your way out of debts and overspending. Indeed, it may be difficult for some to overcome the habit of overspending and splurging on many things in life. If you are facing the same situation, try to train the power of your mind to manage your thoughts on spending. Resist the urge to do unplanned spending by waiting for a day or two. In the end you might find out you don’t exactly need it.

If you want to live a good life, know how to manage your finances as this comprise a big part of being happy and worry-free in life.

How to Manage Your Money

Do you want to learn how to manage my money better? In my article I will be discussing 7 important tips which will help you in managing your finance properly.

First keep in mind that what is your income, if you are spending more than you earn it means you are not managing your finance properly. Listed below are 7 important tips through which you can manage your finance properly:

  1. You can make budget on monthly basis which will help you to spend according to your need.
  2. Another important step is to constantly check your bank statements or review your bank statements and try to consider getting rid of your debt as quick as you can.
  3. Make a life style which fits according to your financial limits .It includes your standard of living, your clothing etc. You must avoid showing your self more than what you actually are.
  4. The most important aspect which has to be considered by you is to save money for tomorrow. You can start saving with a penny. This saving can help you in different type of situations.
  5. You can manage your debt on regular basis by paying or clearing your debts on monthly basis and try to avoid the excess use of credit card as it will only increase your debts and will further increase your financial problems in the days to come.
  6. Try to earn some additional income apart from your regular income. Doing some kind of part time job is the option you must consider.
  7. Try to make as much as deposits to the banks, as banks are offering high interest rate on savings. It will assure you that you are managing your finance properly and efficiently.

Managing Finances in a Relationship

Most breakups in a relationship are caused by financial disagreements. From a dating couple to married ones if money issues are not well agreed on, there could be looming trouble. At my pre-marital counseling class, I got a chance to hear different views on how couples manage their finances and realized that it is not a matter of how much money couples have but how they agree on the use of the money.

One of the couples shared their way of dealing with money and this impressed me; they pooled together all their income and sat down each month end to jot down their monthly budget. Each person got some pocket money for personal use thus it did not matter how much one contributed to the pool. But of course this can only work if both parties are open about their income.

Currently with more women being empowered, some couples have found themselves in a relationship where the woman earns more than the man. This can cause a strain on the relationship especially if the woman looks down upon the man or if the man is in denial that he is earning less. It is therefore important that a couple accepts each other as they are and plan for their income as a couple rather than compete on who earns more.

Couples can open a joint account, invest in insurance for the family, buy property, buy shares in the stock market and enjoy the power of pooling funds together.

In case of further problems, couples can also get a financial advisor or a successful couple to emulate.

False Sense of Financial Security

You are currently living the ‘American Dream’. Right now you are blissfully married, you have two kids, a dog, the nice home with a white picket fence, you drive an SUV and a station wagon and you are in debt. Your story is just like millions of other people out there. Okay, so your story isn’t exactly as I just described but its pretty similar. In fact the debt part is probably the only absolute truth. You are able to make all of your minimum monthly bills and are making ends meet – or so it seems. You’ve been drawn into the false sense of financial security and assume that you know how to manage money. The reality is you may be in too much debt. I’ve created a list of ten warning signs indicating that you might be in over your head.

  1. You have little to no savings
  2. You are only able to make the minimum payment on your credit cards and other bills
  3. You have been denied credit
  4. You use cash advances from your credit cards to pay other bills like heat and hydro
  5. Once in a while you’re late with your bill payments
  6. You keep buying things with your credit card adding to the balance
  7. You don’t even know how far in debt you are
  8. Your bank accounts are overdrawn and once in a while you bounce checks
  9. You have one or more credit cards that are close to the limit or are maxed out
  10. You have been secretive to family and friends about your debt and over spending

Does one or all of these statements sound like you? Even if just one of those is true you might be in some sort of financial trouble and may need to learn how to manage money all over again. The good part is you can. The bad part is you need to start taking control of your finances ASAP. The longer you wait, the worse the problem will get. Finances are something that can’t be ignored or forgotten about.

STEP 1: Now is the time to create a check list and go through it. Sift through these ten things and find out the parts that correspond with your life.

STEP 2: Find a way to correct those problems. You have no savings? Start creating your emergency fund. Add $25 a week or any amount that is possible to increase that balance to $1000. You keep adding to your credit card balance? Start buying things with cash and start making larger payments to your credit card. The list goes on and on but you have to fix those problems.

STEP 3: Set goals and start making them into reality. Next week isn’t the best time to begin making goals. Start today – better yet, start right now. Don’t set your goals too high, create financial goals that are able to achieve like cutting your hydro bill by 5% or 10% or save some cash by quitting smoking. Small steps are key to goal setting and learning how to manage money.

Being lured into a false sense of financial security is easy if you don’t know the signs of serious financial problems. If you have gone through this list and have found any matches it might be time to start fixing those problems before your security becomes a huge issue. Understanding how to manage money can be simple and everyone is able to make it happen.