factoring-cash-flow-solution-for-the-21st-century

Factoring: Cash Flow Solution For the 21st Century

Writen by Eric P. Barnes

CASH FLOW IS KING!

Cash flow, the “energy” moving in and out of your business, is the most critical item on any business priority list. Without cash, the business can’t pay its bills, expand, or even remain in operation.

Most entrepreneurs know what I mean. What business doesn’t experience a cash low crunch when the need to expand - to invest in growth - is hampered by the 30, 60, or 90-day cycles inherent in the accounts receivable loop? Doesn’t it drive you a bit crazy when those 30 to 60 day “loans” to your customers keep your own money out of your hands?

What if you were able to get cash for those invoices immediately?

THE FACTORING SOLUTION

The answer could be factoring, the most powerful non-debt solution to cash flow problems available to business today.

Factoring does for wholesale companies (selling to other companies, institutions or governments) what Visa

top-ten-reasons-for-invoice-factoring

Top Ten Reasons for Invoice Factoring

Writen by Afra AmirSanjari

Here is our top 10 list as to why you should consider factoring as your funding solution:

1. CASH IN AS LITTLE AS 24 HOURS
Factoring provides you with the ability to meet your CASH FLOW NEEDS IMMEDIATELY!

2. NO DEBT CREATED
Loans require collateral limited by your hard assets. Factoring is NOT a loan, so there is no debt to repay. A factoring company purchases your invoices at a discount. This enhances the financial ratios often used to determine your credit worthiness in obtaining other types of financing. Your balance sheet is more attractive and your financial position is strengthened.

3. HIGH ADVANCE RATE
Our participating factors provide Higher Advance Rates which means you factor fewer invoices to meet your cash flow needs, which also means YOU WILL SAVE MONEY!

4. NO FINANCIAL STATEMENTS REQUIRED
In many cases, no business or personal financial statements or tax returns requested. Clean personal credit is not required.

5. PROFESSIONAL COLLECTIONS
Factors handle collections in a professional manner. Factors are not collection agencies. They understand the importance of business relationships and treat each debtor as though it is your best customer. Factoring companies SPEED the collection of invoices and reduce your collection cost. You can eliminate the overhead cost associated with having someone internally handling collections.

6. INVOICE PROCESSING
You can greatly reduce your cost of processing invoices because factors handle much of the work.

7. ENHANCE YOUR CREDIT
Once you begin factoring, the increased cash flow will provide the liquidity to pay your venders on time. Making timely payments to vendors positively affects your credit rating and allows you to obtain credit from other vendors and financial institutions.

8. INCREASED PRODUCTIVITY
Business owners often spend more than half of their time on duties they do not find productive, such as collections, administration, bookkeeping, warding off creditors and searching for additional capital. Factoring helps eliminate this wasted time.

9. REDUCE ACCOUNTING COST
You will receive information regarding outstanding and paid accounts on a daily, weekly, and monthly basis.

10. NO LOSS OF BUSINESS EQUITY
Ownership percentages remain unchanged with a factoring arrangement (unlike considering bringing in new partners with capital).

More benefits of factoring:

Meet seasonal demand
Improve creditworthiness
Regulate cashflow
Take early pay discounts
Meet payroll
Cash available - on demand
Your credit line grows with your business
No other collateral needed
No tax returns, audits or financials needed
No debt created
Minimal paperwork
Invoices are paid faster
Focus on business growth
Credit screening
No geographical limits
Detailed management reports
Volume discounts
Credit monitoring

the-benefits-of-banking

The Benefits of Banking

Writen by Joseph Kenny

Do you have a bank account? If you do then you are one of the billions of individuals that do. If you do not have a bank account, you are missing out on the many benefits of banking.

The benefits of banking, there are many who wonder exactly what they are. If you are interested in opening up a bank account with a finical institution, but you have yet to do so, you may be wondering what the benefit of banking are. There are an unlimited number of banking benefits. To determine how you can benefit from having a bank account, it is important to examine your needs.

Bank accounts are often obtained because they allow you to have money. If you are employed, it is likely that you will receive a paycheck. There are many financial institutions that you will charge you a fee each time you go to cash in your paycheck. This fee is typically assessed to those individuals who do not have a bank account. While the fee may not seem like a large amount of money at the time, the fees can easily add up. By opening up a savings account or a checking account, you will not be subject to these fees.

Having a bank account often means having a safe place to store your money. If you do not have a bank account, it is likely that you are carrying around large amounts of cash. It is advised, no matter where you live, that you do not carry large amounts of cash with you or keep large amounts of cash in your home. In the event that your money becomes lost or stolen, you will be unable to have that money replaced. A bank account provides you with a safe place to store your money. It also provides you with easy access to your money, either with checks or a debit card.

The elimination of check chasing fees and the security of a bank account are just a few of the many benefits of banking. You may also find that having a bank account will improve your chances of being able to obtain a loan. If you are in need of a personal loan, automobile loan, student loan, or mortgage, you have a higher chance of being approved if you are already the customer a bank. This is because many banks are more likely to do business with their existing customers.

In addition to being approved for a loan with your bank, having a bank account can improve your chances of obtaining financing elsewhere. Before financing is granted, the lender in question will examine your ability to pay. If you have a savings account or a checking account, the balance of those accounts will be taken into consideration. The more money you have in your account, the more likely it is that you will be approved for financing.

If do not already have an account with a bank, it is advised that you at least consider opening one. You should be able to obtain free information from a number of local financial institutions. This information may provide insight into all of the ways that you can benefit from opening up a bank account.

improving-credit-score-through-a-bad-credit-auto-loan

Improving Credit Score Through A Bad Credit Auto Loan

Writen by Nand Kishore Sahu

In past your loan applications have been rejected, because of your bad credit score. A bad credit score can happen because of various reasons like default in repayments of previous loans or a county court judgment going against you. The good news for people with bad credit score is that they can improve their credit score by taking a bad credit auto loan. Since a bad credit auto loan is a collateral loan there are good chances of approval with some exploration and efforts.

A bad credit auto loan is a loan provided to consumers with poor credit history. As the lender is at high risk, the interest charged and other fees are higher when compared with other auto loans. Apart from that, there is lot of sweating out to be done to get a bad credit auto loan. The credit rules of financing companies are a bit stricter in case of a bad credit auto loan. Loan seekers need to go through a lot of formalities before they are given a loan.

People looking for a bad credit auto loan will do well, if they are in a position to make high downpayment. A high down payment will decrease the amount required to be financed, in addition it will also make a good impression in the minds of lenders about your financial position. As the monthly installment will be low it will help you manage your finances better, in turn improving your credit ratings.

There are various options available while going for a bad credit auto loan. There are many car dealership companies who can offer you a good auto loan although at a high cost. One can also directly approach financing institution like banks for a loan. But the most advisable way is to search for various options through internet. It not only saves your time and effort but also prevents you from falling in marketing gimmicks of the financing companies. You can reach to number of companies online through their websites and ask for quotes. The idea is to let different institutions compete against each other to offer you a bad credit auto loan at an affordable price. Once you are through with your decision you can seal the deal online by making an online application.

accountability-in-trading

Accountability In Trading

Writen by Harvey Walsh

I recently heard from a trader who told me he has been having problems with discipline in his day trading. He knows how to trade, he knows the setups he needs to be looking for in the charts, when to enter, and when to exit. His trouble is in having the discipline to wait for only those setups and not to take half baked trades in the meantime.

This is a very common problem for traders, I imagine everyone goes through it at some stage in their career. In working with student traders over the years, I have noticed a phenomenon that I think explains one of the reasons for this lack of discipline. When I watch student traders trade, they tend to sit very patiently and explain to me what they are seeing on the chart in front of them. When they see a valid setup come along, they can quite happily tell me what the setup is and how they plan to trade it, and subsequently they will execute the trade accordingly. When the same student is trading alone, they start taking all sorts of off-plan trades, setups that aren’t really setups at all. It seems that the difference when trading alone, is that the trader suddenly has no accountability. If they have someone looking over their shoulder keeping them in check, everything is fine. They know that if they take an off-plan trade then they will have to explain to me why they did so when it all goes horribly wrong. Trading at home alone, the trader is accountable only to themself, and they are probably not going to give themself the same hard time I would if they didn’t follow their trading plan to the letter!

So it seems that one of the benefits of trading for a living, that independence from the boss, can actually be a hindrance at times. Short of hiring a manager to stand watch over them, what can a trader do to overcome this lack of accountability in their trading? One method I recommend is to give a running commentary out loud throughout the trading session, as if talking to a mentor. Explain what you are seeing on the chart, where you think a trade is setting up and why, how you will enter, how you will manage the trade, and where you will be exiting wherever the price subsequently goes. When talking out loud you use a different part of the brain than when simply thinking to yourself, and that can have surprising consequences; it’s easy to talk yourself into a trade that you want to take even though you know it’s not quite right, but talk through it out loud and you’ll hear yourself making excuses and quickly see the error you are about to commit. I know talking to yourself sounds a little odd, but it really works.

Another option for making yourself more accountable for your trades is to join a chat room. There are loads of them about, plenty of free ones as well as some paid ones which call trades in real time (I wouldn’t recommend those by the way, they are often run by people front running their own calls). If you find a decent room and commit yourself to calling your trades in real time, knowing that you will have to explain to the room exactly why you just took that really stupid trade will really make you think twice about taking it in the first place.

These are two simple ways of making yourself more accountable for your trades and therefore enforcing more discipline. There are many more interesting ways of increasing discipline as a personal skill, and I hope this article will have given you some ideas to start developing your own methods.

automate-your-payments-for-an-easier-life

Automate Your Payments For An Easier Life

Writen by Sara Dowling

Did you know that if you automate your payments you could be spending Sunday nights at the cinema with the children rather than sitting at the kitchen table with your calculator trying to balance your cheque book? Well, if you didn’t, the following are three great (free!) ways in which to automate your payments and make your life so much easier:
The Standing Order
All creditors now allow you to make a monthly standing order payment to repay their debt. In fact, most creditors prefer this method as they’re fairly sure they’ll get their money on time (although it is not a guaranteed form of payment - standing orders, like cheques, can “bounce”).
The upsides of a standing order repayment scheme are: (i) you know the payment will be made on time (thereby avoiding any late payment fees); (ii) the monthly amount is fixed, so its easy to budget for; (iii) after a while you don’t notice the money going out of your account, so when you’ve finished repaying the debt, just transfer the standing order to your savings account.
Although payments via standing order doesn’t mean that you reduce the number of creditors that you have, your bank should let you set up as many standing orders as you want (provided you have the money to pay for them). Doing this will make the day-to-day running of your account(s) so much easier.
The Direct Debit
The direct debit is the payment method of choice for creditors. As with the standing order, the direct debit is an automated payment from your bank account. However, unlike the standing order, a direct debit is not really for a fixed amount each month (although, in most cases, practically speaking, the amount is fixed at the same sum). Instead, a direct debt mandate (the authorisation you give to your creditor to take money out of your account) says that the creditor can take as much as they want. For this reason, you should be careful before giving a creditor a direct debit mandate - make sure both of you (i) know the day the money is going to come out of your account; and (ii) as much as possible, know the amount to come out of your account.
Not really ideal for all payments, the direct debit is, however, really useful for utilities bills. Just keep in mind that with the standing order you are the one sending the money to your creditor, whereas with the direct debit your creditor is asking your bank to pay them (so it’s a little like giving someone a blank cheque!).
Online Banking
Becoming very popular is to open an account with a bank that lets you do all your banking and bill payments via the internet. Internet banking is a great way to stay ahead of your bill payments and finances without having to leave the comfort of your home or office. Having said that, do make sure that you check to see if your bank is going to charge you for processing transactions via the Internet - as some do - before going ahead and doing it.
And finally
As you can see, if you give some thought to automating your finances you could find that you have lots of spare time to spend doing more enjoyable things - like a night out with the family!

the-definition-of-asset-management

The Definition Of Asset Management

Writen by Robert Michael

Many of you have probably heard the term “asset management” Before, but you may not have an idea of what it really is. Asset management is a broad term. It can be defined as a process that guides the gaining of assets, along with their use and disposal in order to make the most of the assets and their potential throughout the life of the assets. While doing this, it also manages and maintains any costs and risks associated with the assets. It is not something you can buy, but rather a discipline you must follow in order to maintain your assets.

Asset Management can be used for a variety of things. Most use asset management to keep track of their cash or “liquid assets.” Banking institutions are considered a form of asset management (savings accounts, CD’s, mutual funds, money market accounts, etc.) along with investments. Another example of assets: businesses often have a product to sell. These products are considered assets. The right asset management system can be utilized to make the product more readily available, easier to produce, cheaper to ship to customers, etc.

Asset Management Resource:

Tracking and insuring the product is also a way of asset managagemant. The product is an asset to the business and essential for its survival and for financial stability. So, maintaining and managing this product is of the up most importance.

There is another type of asset that many people do not think of when they think of the term “asset management.” This asset has to do with public and shared assets such as: the building and maintaining of streets, highways, water treatment facilities, sewage, electricity, natural gas, clean air, etc. All of these are assets that everyone on this earth needs. Usually, your city or local government uses asset management to maintain the cost of these assets.

They also use it to produce some of these assets more effectively and in a more cost efficient manner. Natural resources such as: water, electricity, and natural gas are managed so that they can be renewed constantly and thus available inexpensively.

Asset Management Resource:

There are many different means of asset management. It often depends on what type of asset is involved. There are companies and software products available to assist in asset management. Whatever method you choose, there are many similar things that your asset manager system should entail:

1. Optimize asset use and manage all maintenance efforts involved by making assets as accurate, reliable, and efficient as possible.

2. Reducing the demand for new assets and thus save money by using demand management techniques and maintaining current assets.

3. Uses a form of asset tracking: knowing where the asset is at all times, how much the asset is worth, and how much the asset cost you to begin with. It should also incorporate this throughout the entire life of the asset.

4. Always tries to achieve greater value for money through evaluating the asset options: the cost of maintaining, producing, the use of it, etc.

5. Always provides a report on the value of the assets, along with any costs involved in maintaining the assets.

Hopefully you now have a better understanding of the many forms of asset management. There are so many different things that can be defined as assets, thus there are so many different means of asset management. Now that you understand it a bit, you can decide what your assets are and how you can maintain them better in order for them to be more advantageous for you!

the-anatomy-of-a-check

The Anatomy of a Check

Writen by Joseph Kenny

As you sit at your coffee table each month, writing check after to check to pay off various bills, do you ever stop to think why a check looks the way it does? What are all those numbers for? Why do I have to write out the amount in words? Why am I writing a check when I can have this amount automatically deducted from my account? That last question you’ll have to answer yourself. But if you’d like to know a little bit more about checks and how they work, read on.

Here’s a little guided tour of your personal check. Start at the upper left corner. There you’ll possibly see a cute monogram or logo, something you selected to personalize your checks. Moving clockwise you’ll see your name, address, and optional information including your phone number, driver’s license number, or social security number. Scanning further to your right, above the “Date” line, you’ll see a tiny set of numbers that should look something like “9-5678/1234″. This fractional number identifies your banking institution. Next to that, in the upper right hand corner of the check, is a number four digit number. This is your check number, it’s there to help you to keep track of all the checks your write.

Moving on, just below the check number is the dollars box, where you write the numeric amount of the check. To the left of that is the “Pay to the order of” line, where you’ll fill in the name of the lucky person or institution who will receive your hard-earned cash. Below that line you’ll find the amount line, where you fill in the amount of your check in words. Directly below that is the name of your bank and possibly its address. To the right of the amount line, you’ll probably notice a little padlock icon. This is a reference to security features built into the check to help your bank prevent or identify fraudulent activities. There are more details about these features in small print on the back of the check.

Directly below the amount line and padlock icon, you’ll notice either a small blank area or a personal message of your choosing. This is called the “over signature area”. Below that is a line where you sign your name, making your check official and allowing the payee to cash it. To the left of the signature line is a “for” or “memo” line, where you can write a brief explanation of what the funds are to be used for (e.g., May electric bill, September cable, etc.).

Underneath the “memo’ line, you’ll see a bunch of funny looking numbers. They look that way for a reason. The printing of those numbers is done by a process called magnetic ink character recognition (MICR). These important numbers are printed so they can be recognized by devices called reader/sorters that help expedite check processing. The first nine digits represent your bank’s routing number. It always starts with 0, 1, 2 or 3. To the right of that, you’ll find two more sets of MICR numbers, set in different orders depending on the check. One of the digit sets will be your checking account number, the other will be your check number (the same as the number in the top right corner of the check). Flip the check over, and you’ll see a line for the payee to endorse the check and that verbiage about the safety features built into the check that we talked about earlier. If you hold the back of the check up at an angle, in the right light you might see a watermarkanother built in security feature.

That’s pretty much it! Now you know why a check looks the way it does. So the next time you’re busy paying bills, you’ll be more enlightened about that little piece of paper that is oh-so-good at draining your bank account. That counts for something, right?

refinancing-debt-consolidation-mortgage-top-3-benefits

Refinancing, Debt Consolidation Mortgage - Top 3 Benefits

Writen by Ben Ehinger

Have you been thinking about refinancing your mortgage to consolidate some of your debts? A refinancing, debt consolidation mortgage, has become a very popular way to bundle all of a person’s payments and debts into one easy payment each month. This type of a loan has some great benefits

The top 3 benefits of refinancing your mortgage to consolidate your debts

Benefit #1 - You will only have one payment each month

It is generally easier for most people to make one payment each month instead of 5-8 different payments. It is easier to remember one due date and deal with one statement in the mail each month. When you refinance your mortgage to payoff other debts such as credit cards, auto loans, personal loan, old collection accounts, or any other debts, you are creating a system to only make one payment a month on all of these bills.

Benefit #2 - You can usually save thousands of dollars by refinancing

When you refinance your mortgage you will generally have a lower rate than the average credit card and personal loan. This will allow you to save money since; when you consolidate your debts into your mortgage you end up paying these debts at a lower interest rate. This can literally save you thousands of dollars on the back end of these debts.

Benefit #3 - You will no longer have these debts on your credit report

Refinancing to consolidate debts will completely eliminate the debts that you roll into your mortgage. This can drastically reduce your monthly payment and in the process clean up your credit report. Once you clean up your credit report by consolidating your debts your credit score will raise. Then, you can get a lower rate on new credit cards, loans, and even on your next refinance.

Now that you know the top 3 benefits to refinancing your home to consolidate your high interest debts, you have only one choice to make. Which lender has the right program for you? I recommend doing an online comparison quote to see what is out there, and don’t forget to shop around.

rethink-the-way-you-calculate-your-retirement-number

Rethink the Way You Calculate Your Retirement Number

Writen by Martin Lukac

You may just pick a number and set that as your retirement number, but make sure that it is accurate.

You are facing either living on too tight a budget or outliving your money if you choose wrong. It is a vital decision that you need to make.

Financial experts and institutions are preaching the necessity of finding the right retirement strategy. No longer are retirees simply moving all their money into CDs — retirement investment has changed.

Most traditional retirement plans rely on certain assumptions. It is assumed that at retirement the retiree will begin withdrawing a fixed amount of the savings, adjusting for inflation each year. The withdrawal may be a percentage of the portfolio or a fixed dollar amount. For example, when interest rates were last really high, many people simply lived off of the interest on their CDs.

Most advisors say that these assumptions are no longer effective. Partly because it was also assumed that employers or the government provided pension funds to retirees. However, those days have passed. With the increased lifespan of Americans and the disappearance of the pension system, many retirees are looking at outliving their resources.

Experts agree that most retirees should only withdraw 4% to 5% of their investment accounts each year. But there are those that say that 3% is a much safer number.

There are two things to remember when preparing for your own future retirement. One, Americans underestimate how long they will live in retirement. Two, many Americans overestimate the returns they will see on their investments.

If you are married and 65, you have a one in four chance of one of you living another 32 years. That is one-third of your life on retirement income.

Why are financial experts so gloom and doom about retirement? Because it is one of the most essential things you will ever save for. And it also requires quite a bit of knowledge. There are assets, investments, tax efficient methods and many other issues to be concerned with.

So many people simply assume that $1 million is the ideal retirement amount to have. It’s not a bad thing to want to save $1 million in your lifetime. But not everyone will fit this number. Some people need far less and some need far more. You have to look at your situation — your mortgage, your medical needs and your cost of living.

What can you do right now? Start saving for retirement. No matter how old you are, you should sit down and figure out what you will need in retirement. Make this your goal.

And educate yourself. There are so many different methods, reasonings and advice columns to follow. Remember that your retirement is based on your goals and objectives, no one else’s. It isn’t a cookie cutter situation.

Saving for retirement should be on every person’s mind. Especially if you are narrowing in on 30. The longer you wait, the more you will have to sacrifice, now and in the future. If you need help deciphering all of the numbers, get it. Don’t be ashamed to ask others for financial advice. It shows that you are wise and taking control of your future. Believe me, it will pay off in the end.

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