the-secret-of-saving-money

The Secret of Saving Money

Writen by Joseph Kenny

Commitment, along with patience, is very essential if you want to save money in a profitable manner. It is essential to save while you can, to avoid panicking in a sudden emergency. Money saved is a security that only adds to your level of confidence and quality of life. There are some basic money saving steps that you could follow, from the beginning, to avoid financial problems in the future.

Set financial goals:

It is important to get a clear idea of your current financial situation, in order to set goals for the future. You should keep reviewing your goals and be flexible. Implement change in the savings pattern whenever required, to successfully meet your pre-set goals.

Savings account:

A number of people do not consider a savings account, as they feel it is not worth it. They feel that the account does not earn an interest and grow. However, a savings account is a good start to the saving habit. Make sure that you put away some of your monthly income into the savings account, regularly. When the amount in your account grows sufficiently, you can either use the money to invest in profitable funds or set it aside for any emergency.

Save the coins:

Whenever you receive coins after making a purchase, do not spend the amount. Instead, put them into a ‘piggy’ bank. Once the home bank is full, you can exchange the coins for bills at the bank and maintain the amount in an emergency backpack. It is good to keep a certain amount of money at home, to meet sudden, unforeseen expenses.

Do not rely on tax returns and bonuses for ‘catching up’

A number of people charge to their credit cards unnecessarily, in anticipation that they can pay the credit card bills with the help of profit distribution or the bonus that they are expecting. They depend on this extra source of income to get themselves out of financial issues. But there is a possibility that the expected bonus may not come your way. This would make it very difficult to pay bills and taxes that are due immediately. You should use your credit cards for purchases only when you are sure that you will be able to pay back the amount, within the time frame specified. Consider the use of cash instead of credit cards.

Save the raise:

If you receive a good raise annually, you should consider signing up for an automatic deposit into your savings account and save wisely. The raise will prove very handy in an emergency.

Save money from rebates:

You sometimes receive checks via the mail that are rebates on the purchases recently made. Since you have already paid for the article, you could save the money in your special account. These extra amounts saved could be invested to earn good returns.

It is very essential to save a percentage of your income for the future. If you have a strong determination and you take small, but disciplined steps over a period of time, saving money will come naturally to you.

llc-limited-liability-companies-what-are-llc-limited-liability-companies

LLC Limited Liability Companies, What are LLC Limited Liability Companies?

Writen by D Morgan

Do you want to know more about LLC Limited Liability Companies? You need to call Swiss Trust Bank Now on 001-784-458-2400 for a more informal discussion.

Limited Liability Companies

An LLC is a business structure that is a hybrid of a partnership and a corporation. Its owners are usually protected from personal liability (similar to a corporation), while the profits and losses are allocated among the owners without taxation of the entity itself (similar to a partnership).

If you have special requirements, Swiss Trust Bank will provide any additional corporate services you may require.

Swiss Trust Bank Private Banking

Account Type Minimum Balance Details

Ordinary $1,000 Free paperless or monthly statement record keeping. Non-interest bearing account. Service Charge of $20 per month if balance falls below $1,000.

Regular $10,000 Free paperless or monthly statement record keeping. 1.5% Interest paid annually. No Interest is paid if balance falls below $10,000. Statements issued monthly only with account activity.

Silver $100,000 Free paperless or monthly statement record keeping. 2.0% Interest paid annually. If balance falls below $100,000, the rate will be reduced accordingly. Statements issued monthly only with account activity.

Gold $1,000,000 Free paperless or monthly statement record keeping. 2.5% Interest paid annually. If balance falls below $1,000,000, the rate will be reduced accordingly. Statements issued monthly only with account activity.

Platinum $10,000,000 Free paperless or monthly statement record keeping. 3.0% Interest paid annually. If balance falls below $10,000,000, the rate will be reduced accordingly. Statements issued monthly only with account activity.

Each bank account is subject to a $350 setup fee and a $100 annual service fee.

Do you want to know more about LLC Limited Liability Companies? You need to call Swiss Trust Bank Now on 001-784-458-2400 for a more informal discussion.

the-five-debt-triggers-for-women

The Five Debt Triggers for Women

Writen by B. Williams

The average American is over $7,100 in debt (not including a mortgage) and three out of five families can’t afford to pay off their credit cards each month.

Still, as a culture we keep spending-on clothing, luxury cars, gourmet meals, electronics, CDs, you name it-and some would surely argue that spending is an integral part of being American (even President Bush asked Americans to keep spending as our patriotic duty after the September 11th attacks).

But for the 17 million Americans who simply can’t control how much they shop (that’s more than one in 20 of us), this spending quickly turns from a pastime into a problem. And it’s a problem that affects, overwhelmingly, women. About 90 percent of shopaholics are female.

It’s a powerful problem because, for women, shopping is not just about getting a new pair of jeans. It’s an emotional experience, tied to feelings of pleasure, power, guilt and entitlement, that can drive an otherwise “together” woman into debt and even bankruptcy.

Following are six of the more common triggers that can start you spiraling downward financially. Being aware of them, and whether they’re happening to you (be honest!), is the first step to regaining, or keeping, your financial security.

1. “I Deserve It.” Using Shopping as a Reward

You’re working hard, spending long days in the office or taking care of the kids, and you deserve something nice. But while a new pair of earrings here and there won’t break the bank, you soon may find yourself wanting more extravagant items to reward your hard work.

Instead of heading to the mall to make yourself feel good after a hard day’s work, reward yourself with something that doesn’t cost much at all: a walk outside, a long bubble bath, listening to music or reading that book you’ve been meaning to get to.

2. Depression, Sadness or Loneliness: “These New Shoes Will Make me Feel Better.”

If you’re unhappy with your life-your work, your relationship, your family-or you’ve just had a fight with your best friend, you may be driven to shop.

Buying something new makes you feel good, but the pleasure is fleeting so you must buy more and more just to feel normal. And you’re able to justify your spending because, after all, you deserve to feel good, don’t you?

This cycle is similar to that of binge eating or gambling-it’s a brief high that takes your mind off the real underlying problem.

Some experts are so convinced that compulsive shopping is a type of mental illness that they’re experimenting with antidepressants to treat the obsession. One Stanford study, led by psychiatrist Lorrin Koran, found that of 24 compulsive shoppers, 60 percent were helped by taking an antidepressant. Said Koran, “It meant they didn’t turn on the shopping channel anymore It meant they could go to the mall and not buy things they didn’t need. It was a tremendous relief.”

But rather than popping a pill, which could exchange one addiction for another, it seems the real solution is to address the reasons why you’re sad, lonely, depressed, etc. in the first place.

3. Fear of Missing Out on a Great Deal: “This skirt was $750 Now it’s Only $350!”

Do you buy things just because they’re on sale, or feel an overwhelming urge to go to your favorite store just in case you might miss a good deal? If so, bargains are a major spending trigger for you. If you go over your budget to buy something you don’t need just because of a markdown, you’re not really saving money.

It’s great to take advantage of specials on useful items you need or those occasional luxuries you were in the market for anyway. But even if those designer shoes you just noticed “used to cost $650 are half off” you’re still spending $325!

4. Recreation: “If I Didn’t go Shopping, I Don’t Know What I’d Do.”

Shopping is a social activity and one that many women (and increasing numbers of men) enjoy. But if you find yourself spending money simply for a lack of something better to do, it’s time to find a new pastime. Try something away from the shopping mall, like taking dance lessons, entertaining friends at home or taking up an outdoor hobby like biking or hiking.

5. Using Credit Cards to Live Beyond Your Means: “I’ll Pay it Off Later.”

Rather than coming up with a monthly budget, many women, especially those in their 20s who’ve just gotten their first real job (and real paychecks), spend indiscriminately and use credit cards to make ends meet at the end of the month.

This is easily rationalized when we know that “even though there’s a big balance on my credit cards, I can just make the minimum monthly payments.”

This will catch up with you fast, though, and soon you’ll have a looming credit balance that could take 10 years or more to pay off. Being aware of your personal spending triggers, and avoiding them, is one of the best ways to take control of your spending. It is worth remembering this principal: if you don’t spend it now, you don’t have to pay for it later!

———————-

Sources
Reader’s Digest March 2005
MSN Money: You Might be a Shopaholic
iVillage: 5 Common Debt Triggers
CNN Money: Are You a Shopaholic?

time-and-money-around-the-world

Time and Money Around The World

Writen by Jim Edwards

One a recent trip overseas I discovered just how useful a currency converter could prove itself, especially when negotiating contracts, hotel rooms, and even paying the restaurant bill.

While traveling this year I’ve converted my money into 4 different currencies and, if you’ve ever traveled abroad, you know you lose money every time you change your money from one currency to another.

In an effort to save my own financial skin, I turned to the Internet to help me figure out the best conversion rates ahead of time and gauge how much cash I’d actually need for each trip.

In the process, I discovered a veritable “buffet” of helpful and just plain cool converters and tools online.

They help you do everything from knowing your buying power abroad to what time to ask for a wake up call halfway around the world.

** Currency Converter **

Log on to http://www.XE.com and you can estimate the exchange of your currency into virtually any of 180 currencies in the world, including: U.S. dollars, Yen, British Pounds, Australian dollars, Euros, and more.

Simply enter the amount of money you want to convert, choose the currency you want to convert from and to, then click the button.

Instantly you’ll know the value of your money in another country based on the latest currency trading value available.

XE.com also offers a good FAQ section that explains how and why currency exchange rates vary along with information about currency markets.

XE.com gets their conversion data from a variety of sources around the world and, according to the site, updates their rates several times per day.

** World Clocks **

Log on to http://www.TimeAndDate.com to find a wealth of tools to help you get a global perspective not only of local times and dates, but also local holidays and the best time to plan meetings.

>From the home page a couple of links rate special attention.

The first, “The World Clock,” allows you to see the local time in most of the world’s capital cities.

You can select “Full World Clock” for an even more comprehensive list of cities and their local times around the world.

I found the World “Meeting Planner” the most useful part of the site for me.

It allows you to put in your current time zone location and then choose up to 3 additional cities around the world.

The site will then give you a list of times that represent the best times to hold a meeting over the net or via phone or teleconference.

You can then log on to the “Calendar” function on the site, select the country, and instantly see if any local holidays will conflict with your meeting or visit.

It even offers a handy little calculator that allows you to calculate the exact number of days, hours and minutes between two dates. I felt a lot older when I discovered that more than 13,000 days passed since the day I was born.

The site even allows you to see a live countdown to New Years day so you can time your champagne consumption accordingly.

© Jim Edwards - All Rights reserved

http://www.thenetreporter.com

banks-internet-and-security-an-example-from-spain

Banks, Internet and Security - An Example From Spain

Writen by Hans Bool

Security is a theme that will preoccupy us for ever. It is the answer to the most important enabler for doing business on the net: TRUST. And banks are (or should be) one of the key suppliers of trust. How the various banks in different countries are dealing with this topic reflect some of the culture behind internet.

A recent incident showed me some striking difference. This is about a bank in the south of Spain, one of the most prominent in the area. And the case is this: For transferring money through the internet the initial amount is set to only 600 euros. Transferring an amount higher than 600 euros is not accepted through the internet application. Obviously this is done to protect the clients. (I thought initially)

So I went to the (Bank) office and they were willing to change this limit for different type of operations: the maximum amount per transaction, the maximum per day and the maximum per month. These kinds of measures are added to the internet application of the bank with the goal to protect the client. It is not hard to think of an example where someone (a hacker) gets access to the banking application and is then able to transfer only 600 euros per transaction.

If I compare this to a number of banks I use in the Netherlands, none of these have a limit to the amount to transfer (not per transaction, per day nor per month). A possible conclusion could be that (assuming that more banks in Spain will use the same mechanism) Spanish clients are less comfortable with internet and require higher security standards.

But there is another difference.

This particular bank (like many others in Spain) uses the best practice security token which is the coordinate card; this is a card with different numbers that are identified by a coordinate - like a cell in spreadsheet (A1, B4) - and the banking application prompts for a random coordinate at the moment of preparing for a transaction.

The best practice in the Netherlands is not this coordinate card but a hardware calculator. This token operates only with your bank pass and your pin code. Obviously this is much safer, but also much more expensive.

In this light it seems more logical that this Spanish bank adds an additional security measure (like the one of limiting the amount to transfer). But this measure is most likely not only for protecting the client, but rather for protecting the banks insufficient security level.

I had to go to the office to fix this problem and this took including waiting time more than half an hour; fifteen minutes for the configuration.

A calculator costs around 70 euros. The distribution will cost twice as much as the distribution of a paper coordinate card. But in the end, these costs are probably lower than attending a client at a desk for changing limits. On an overall productivity level, this will mean a lost of productivity that exceeds the costs of the token and the interaction with the banking agent. Internet is supposed to make life flexible and faster; in both cases the Spanish situation is lagging behind.

To my opinion (and experience)

© 2006 Hans Bool

how-to-get-started-in-investment-properties

How To Get Started In Investment Properties

Writen by Joseph Kenny

One of the best investments that you can be involved in today is that which deals in real estate. Right now, real estate is moving very good and it is a good time to be dealing with it. Much money can be made in real estate transactions and the good news is that you can make a lot of money quickly - if your investments and selling techniques are made wisely. Here are a few things you need to know about getting started in this potentially lucrative field.

Learn About It

Investments of any kind require that you learn about what you are investing your money in. Any other way of investing is only foolish, unless you have some really good financial counselors. But generally, the more you know the better off you will be. This is especially true in real estate, because the investments are large and the losses can be high. You should want to read all you can about it before you make any moves. Not only should you learn about how to choose a property that people will want, you also need to know how to research the local market to know what a property should sell for.

Types Of Property

There are a number of ways that you can get started in real estate. Largely this will be determined by how much money you have to get started with. If you do not have much money, you may want to start with foreclosures, or pre-foreclosures. These properties will be the cheapest, and, because of their value as opposed to their cost to you, could bring some excellent returns. You can buy them at less than market value, fix them up a little, and turn around and sell them at market value - for a good-sized profit.

Other properties involve residential or commercial, large and small. Once again, you need to make sure you know what you are doing before you invest. Learn the secrets to investing that will make it worthwhile, and be able to recognize a bad deal when you see one.

For Sale Or Rent?

When you want to buy property is it so that you can turn around and sell it - or do you intend to rent it out? Residential renters have a great many needs and may disturb your sleep if they need to have something done right away. On the other hand, commercial renters have a tendency to take of small things for themselves just to be able to get back to their business. Renting property out is one way to ensure an income over a long period of time, but will require a percentage of outlay to keep the property up. Commercial property, if in a prime location, however, is always sure to remain in demand.

While the real estate market is hot, there is a possible downside that you need to be aware of. Money that is tied up in real estate, while able to keep its overall value, could be tied up in that property for some time - not all property sells quickly. So you need to be able to figure in things like taxes, interest and other things that will eat at your profits over a period of time.

The market is good and much money can be made in it. It is just waiting for the right investor.

bad-credit-financing-for-you

Bad Credit Financing For You

Writen by Manuel Simao

Are you trying to determine what bad credit finance options that are available to you? You need a new automobile, but you are unsure of who will finance it due to your bad credit?

There is no need to be too concerned about financing if you have bad credit. There are several different financing methods that are available to most people, regardless of their credit history. The interest rates may be higher or they may require a larger down payment, but they may be just what you need to get financing for your purchase.

Financing a Car

If you need a new or used automobile, but you have bad credit, then your best source for financing will most likely be a finance company rather than a bank.

There are some companies that offer people with bad credit financing. The financing usually is dependent upon the vehicle chosen, where you buy the vehicle, and what insurance and driving records that you hold.

There are other things that the finance company will consider as well, including your income, cosignors that you can get for the loan, and any other references that you may be able to provide.

Financing a Home

Real estate financing is a little trickier to find if you have bad credit, but it is in some ways easier to finance due to the collateral being the home.

Some of the big considerations that are looked at when trying to get a mortgage loan with bad credit include income, home or real estate insurance that you have to purchase, how much your down payment is, and any references from past landlords that you may have.

You can find bad credit mortgage financing online, at some real estate companies, and at finance companies. You only have to be willing to look for them.

Other Kinds of Financing

If you need to find financing for other items, like electronics or collectible items, then you may find that this is more difficult.

The reason why it is more difficult to find financing for these smaller items is that they are much harder to repossess and to find buyers for them after they have been repossessed. These reasons make lenders more wary of financing people with bad credit. You may need to consider other ways to get the money to purchase these kinds of times if they are needed.

It may be possible to find a lender that will finance these items, even if you have bad credit. If you are rejected, however, you should ask them if they have some recommendations of where you might get financing.

developing-realistic-financial-assumptions

Developing Realistic Financial Assumptions

Writen by Dave Lavinsky

Many investors skip straight to the financial section of the business plan. It is critical that the assumptions and projections in this section be realistic. Plans that show penetration, operating margin and revenues per employee figures that are poorly reasoned, internally inconsistent or simply unrealistic greatly damage the credibility of the entire business plan. In contrast, sober, well-reasoned financial assumptions and projections communicate operational maturity and credibility.

For instance, if the company is categorized as a networking infrastructure firm, and the business plan projects 80% operating margins, investors will raise a red flag. This is because investors can readily access the operating margins of publicly-traded networking infrastructure firms and find that none have operating margins this high.

As much as possible, the financial assumptions should be based on actual results from your firm or other firms. As the example above indicates, it is fairly easy to look at a public company’s operating margins and use these margins to approximate your own. Likewise, the business plan should base revenue growth on other firms. Many firms find this impossible, since they believe they have a break-through product in their market, and no other company compares. In such a case, base revenue growth on companies in other industries that have had break-through products. If you expect to grow even faster than they did (maybe because of new technologies that those firms weren’t able to employ), you can include more aggressive assumptions in your business plan as long as you explain them in the text.

The financials can either enhance or significantly harm your business plan’s chances of assisting you in the capital-raising process. By doing the research to develop realistic assumptions, based on actual results of your company or other companies, the financials can bolster your firm’s chances of winning investors. As importantly, the more realistic financials will also provide a better roadmap for your company’s success.

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