sods-law-costing-britons-millions
Sod’s Law Costing Britons Millions
Writen by Simon Ziviani
From being locked out of home on the coldest day of the year to running out of hot water when getting ready for a date, a quarter (24 per cent) have spent at least
it-was-not-that-long-ago
It Was Not That Long Ago
Writen by Lance Winslow
It was not long ago when in 2001 when we had 2 million lay offs. Two million Americans lost their jobs. That is not very bad considering the enormity of the employment base in this country, but it is still too high for my blood. It is a travesty when the greatest nation in the world cannot control its regulatory bureaucracy, which caused those job loses. Sure we can blame it on the guy who lives in a cave in Afghanistan and the international terrorist attacks on the problem of the job issues, but the downward trend was there long before Osama Bin Laden finally downed those buildings he had his heart set on.
Where did all these people find jobs? What will happen in the next business cycle? Well, some of these people will be starting businesses and they will need to get an SBA loan or go to a bank, buy a franchise and of course make a business plan. A couple of good sites for business plan making are;
http://www.businessplanfunding.com
check them out next time you find yourself in the same boat with the other 2 million laid off workers and those who maybe still looking for work, currently stuck in under employed circles. For instance possessing a PhD but working part time retail. Unemployment is now the lowest in three decades, but due to the regulatory bureaucracy causing the next downturn in the business cycle, we are not out of the woods yet and really no kudos can be given just yet. Sure we have some tort reform and some positive signs, but Elliot Spitzer is still on the lose and even the latest polls of business owners in California are predicting a slow down in 2006 and the hiring freezes have already started.
Everyone knows that the stock market leads the economy recovery by 6-9 months, and it did in this last go around and then tested it self went up again. Today there is no clear direction although the economic numbers look good, but mind you that the EURO slipped on the dollar, which means our manufacturers may not be so rosy as we thought for 2006-2008. Our stock market is doing some bouncing around also. Remember that the stock markets are no longer really reality based and are more like a gambling casino than anything. Some day it will no longer have any resemblance of the actual reason for it’s creation, but for now it is a good pre-indicator of things to come and we also know that high fuel prices take their toll on the over all economy. Interest rates are still going up albeit slow and the housing bubble is getting weird too. Anyway we must pay attention, please be thinking here.
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Lance Winslow - Online Think Tank forum board. If you have innovative thoughts and unique perspectives, come think with Lance; www.WorldThinkTank.net/wttbbs/ |
finding-bad-credit-loans
Finding Bad Credit Loans
Writen by Jeff Lakie
Many people within the UK have come to find that they have bad credit and with bad credit come the shocking realization that it is extremely difficult to obtain any type of loan. These same people may feel like they are doomed to a credit less life forever. This could not be further from the truth. There are many ways, any person with bad credit can obtain a loan; you just may not realize which way you should turn. If you have attempted to get a loan through various applications before and have been turned down, you do still have options. These options could be extremely easy if you know just where you should look.
Some of the different types of bad credit loans could include, Title Loans, Pawnbrokers, as well as banks and finance companies. Many people do not realize that you may have equity within your vehicle. A very popular type of loan for those with bad credit is a title loan. These particular types of bad credit loans enable you to make use of a vehicle that you possess the title for and turn it into much needed money. No matter what type of vehicle you own, a truck or a car, if you own the vehicle outright and possess the title you will qualify for this type of loan.
What happens is this, you take your title in, along with your vehicle, they will ensure everything is in working order and offer you an amount. You can both choose to accept it or deny it, if you accept they will give you a loan, and keep your car title. You will still be able to keep your vehicle though; you will be required to make payments on this loan. If you should fail to make payments, the title loan company has the right to take your vehicle and sell it in any manner possible in order to get their money back.
A pawnbroker, is very much similar to a title loan company, they will make a loan to you based on the value of the property you present to them. However, you will not be able to maintain the possession of your property they will keep it. You will have a certain length of time to repay the amount of the loan they have given you. If you fail, and ninety days has passed since the due date, the pawnbroker has the right to make your items available for sale.
Those are not your only options, you may also be able to qualify for a bad credit loan with a finance company or a bank. Many of these types of businesses offer loans specific to those with bad credit. There are several ways you can go about this, by using something of value as collateral or obtaining a co-signer. Anyway you go, by obtaining a bad credit loan you could be well on your way to having better credit and a better quality of life as a result.
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Jeff Lakie is a freelance writer for the Loans Uk website Visit our site today for more great finance articles. |
capitalizing-small-and-medium-businesses-a-new-idea
Capitalizing Small and Medium Businesses; A new idea
Writen by Lance Winslow
Here is an idea to capitalize small businesses using Financial Markets instead of SBA loans and Small Banks. There is a break down in the system. First the process is too bureaucratic since it is supervised by a government agency. Often taking 30 plus days with all the required paperwork. Typically dumb loans are made and better loans are never made due to percieved minority status loan making. Then the SBA, SBDC, Chambers of Commerce and local economic development groups PR the loan and instant success of said business and a year later the loan defaults. And on to some more recruits for PR. Meanwhile many worthy people go without, good candidates jump out of the process due to frustration. Often not applying in the first place since unspoken quotas make things tough to prove self worth of the system for PR releases to promote minority loans. Also even with the 20% guaranteed by the tax payers and SBA many banks are not so interested in little loans because it creates lots of paper work. After all it is nearly the same amount of paper work for one large loan as one little one. And unless the small banks or local division of a larger bank can get maximum PR often they just are not interested. The SBA has a dismal record of bad loans. Although the principle of the endeavor is extremely noble indeed; I propose another competing way to finance small businesses and perhaps in the future medium sized ones too, which could provide the innovations and research needed to take mankind to the next step. By providing competition we will improve the process of the SBA loan guarantee programs. Also catch more first time entrepreneurs or second step business people. The American Dream with a chance to attain the carrot with a little help from the Markets which were originally supposedly created to fund and capitalize the strength of our Capitalistic System in the first place.
Here is the idea, I call it New American Bombs, as we fight for economic prosperity:
THE NEW AMERICAN BOMBS
Offering: Business Opportunity Means Better Success - Notes
Objective: To provide a consistent, reliable and uniform source of small business financing that can be made available for distribution throughout the country. Help American’s achieve their American dream of starting or continuing to develop a small business with financial and business assistance through a coordinated and uniform system of small business loans. These notes will then be packaged and offered to the public and private markets as a bond type-investment.
Description: Uniform non-collateralized small business loan
Amount: Issued in loan amounts of $50,000, $100,000 and $150,000 to the loan recipient. Packaged and offered to the public and private markets as an investment in denominations starting at either $5,000 or $25,000.
Duration: Durations of 5 to 10 years
Yield: Estimated at approximately 150% of the then current conforming GNMA notes
Additional Requirements: Attendance and passing of an approved vendor Certified Small Business Loan course before the processing and approval of a small business loan. This course must be taught in a class room setting and must be no less than 20 hours in duration.
Further Objectives: To provide a secured vehicle that will allow American’s to invest in the future of America. These small business notes (packaged and promoted like the popular GNMA securities) will have a low initial purchase amount and an attractive yield for investors who want to help build the future of America while also receiving an income from their investment. Theses small business loans will be made available through out the country on a uniform, coordinated and equitable basis from non-government lending sources. This vehicle can add an immediate source of needed funds without relying on government programs. Institutions and companies can opt to join in providing funding for these small business loans. This program will lessen the reliance on extremely high interest rate lease and loan-shark type financing many small business owners must currently resort to for funding of their dreams. In addition the small business loan participants will receive hands-on class room instruction on topics of importance and necessity for the operation of a small business to further assist in the survival of their business venture. People, companies and institutions across America can have a simple, patriotic vehicle to help invest in their future and the future of our country.
INVEST IN THE FUTURE OF AMERICA
An emerging markets micro-loan program could also be created in the range of $300 to $5,000 and one for loans of $5,000 to $25,000 for Third World Nations. The Start Small and Finish Big principle. This could fund programs which take storage containers with businesses inside. Micro Industries in Third World Countries could be established along this same format.
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Lance Winslow - Online Think Tank forum board. If you have innovative thoughts and unique perspectives, come think with Lance; www.WorldThinkTank.net/wttbbs/ |
business-banking-professional-advice
Business Banking - Professional Advice
Writen by Joseph Kenny
At the beginning, you will be offered plenty of advice and support to set up your business - enterprise schemes often run seminars and give out free software to help you manage your accounting, for example. Local mentoring schemes can provide a useful way to make contacts with other people who have set up in business and excellent chances to network.
When it comes to tax and accounting, however, you may want to enlist the help of specialists. Particularly if your business has a large turnover or complicated finances, using an accountant can make a world of difference. While some people are put off by the thought of paying fees to accountants, the costs involved can actually be relatively low, and often your tax bill can be significantly reduced. Taking on an accountant may save you money as well as a lot of hard work! Some offer additional services, such as advice and auditing that could help to make your business more profitable.
If you run a business you are legally required to keep records of certain things. For example, if you employ staff you will need to keep PAYE records, and VAT records if you are VAT registered. All businesses must submit a tax return every year - you can now do this online. If you have an annual turnover of over
ideal-candidates-for-internet-banking
Ideal Candidates For Internet Banking
Writen by Frank Owen
Best Candidates For Internet Banking
Internet banking works well for just about anyone, but for some people Internet banking is better suited than for others. If you are someone who has dozens of bills to pay every month, you’ll probably benefit from online banking. Online banking will save you time and money. You can streamline your banking and payment processes with the click of a button and keep track of statements and payments without a huge paper trail. For many this tiny benefit is enough to convert them to Internet banking.
Other idea candidates include those who use financial software programs like Quicken. Most banks allow you to download your check register and statement information right into your financial software program. This makes monthly reconciliation’s go a lot faster and more accurately then if you were doing them by hand.
Internet Banking And Business
Internet banking is also a good idea for anyone that owns their own business or a virtual office. If you fall into this category than chances are you are already online most of the time. Why not spend a few extra minutes checking your bank statements, setting up direct deposit and handling other financial affairs over the Web? You can even set up a business account and manage it from your virtual office when you take advantage of Internet banking. The best news? You’ll probably incur fewer fees when taking advantage of online banking services than if you bank the traditional way. Why not take advantage today?
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Article by Frank Owen, visit his web site on internet banking for more on internet banking http://www.internetbankingfacts.com |
setting-your-financial-priorities
Setting Your Financial Priorities
Writen by Terry Rigg
Whether you know it or not, you are always setting your financial priorities. Some may decide that a new stereo system is more inportant than this month’s electric bill. This may be a little off the wall but it is still setting your priorities.
Anyone wanting to better manage their money would be wise to determine what their financial priorities are and stick to them. Of course, if you see that these priorities will not put food on the table and pay your bills then you will have to rethink your priorities.
Setting your priorities is simple. You just decide what is the most important aspect of your finances and put that item on top. However, if you decide on that stereo over your electric bill, you may find yourself in the dark with no need for a stereo.
There are basic priorities that pertains to everyone. These are simply a matter of survival. Here is a list of the basics:
Water
Food
Shelter
That was a tough one.
What does it take to ensure that our basic needs are met? The main ingredient is a source of income to pay the rent or house payment, pay the utilities, and buy the groceries. This is where you start setting your priorities.
Before you can spend another penny, you have to take care of what you need to survive. Don’t put off the rent or house payment, utilities and don’t skimp on your groceries and necessary health items. If you do you will start experiencing money problems much sooner than you would if you had delayed paying other bills instead.
What’s next? If your source of income happens to come from a job, then I would say your transportation. You have to get back and forth to work so you can afford all of the other stuff. This would include your vehicle payment, gas, insurance and maintenance. If your source of income is not a job then go to the next step.
And Now? Naturally, this would be your other bills. You can even split this category a little further.
First, you have your bills that are secured by property. You should always pay these bills first.
Secondly, your unsecured bills which are probably credit cards.
The reason you should always pay your secured bills first is that it is much more likely that they can take the secured property and probably will unless payment is made. While credit cards companies are notorious for their threats, they very seldom follow through. I’m not saying not to pay them, just that they aren’t as high a priority as your secured bills.
Next would be your savings. I really to hate to list savings as your last priority because having a savings can prevent the use of those dreaded credit cards and help in so many ways. If you have the money to cover all of your other priorities then you should always put savings at the top of the list. However, if you don’t have enough money to cover your bills and expenses then your savings will have to be the first to go.
Just to recap. The below list is an example of what your financial priorities should look like:
1. Groceries and Necessary Health Items
2. Housing (Rent or House Payment)
3. Utilities
4. Transportation
5. Secured Bills
6. Unsecured Bills
7. Savings
Let’s hope that you never get in the position to have to decide which of the above list will have to wait. But if you do, following the above priorities is absolutely necessary to ensure your survival.
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Terry Rigg is the author of Living Within Your Means - The Easy Way http://www.homemoneyhelp.com/ebookadpage.html and editor of the Budget Stretcher web site. Join the thousands of subscribers to The FREE Budget Stretcher Newsletter and get great articles, tips, downloads and a lot of Budget Help by visiting his home page at http://www.homemoneyhelp.com |
payroll-cards-improve-direct-deposit-participation
Payroll Cards Improve Direct Deposit Participation
Writen by James Sayers
It has been estimated that 50 percent to 60 percent of employees paid in the United States participate in a direct deposit service offered by their employers for payroll funds. This is a growing trend as there are many benefits to employers and employees alike. Direct deposit involves a series of steps that culminates in the employee receiving wages electronically into their bank account, whether they are paid on an hourly basis or salaried.
For the staffing industry in particular, this trend poses a significant potential for savings as the volume of payroll checks for external staff is far greater than that of internal staff. For example, a staffing firm with 20 staff members may employ as many as 500 to 1,000 temporary employees per pay period. The costs associated with paying this many employees is on par with much larger organizations outside the staffing industry who, like you, strive to provide superior service at a minimal cost. By providing direct deposit to your employees, you will experience dramatic savings as well as improve relations with your employees by providing this valuable benefit.
Background on the Market
Over the past eight to ten years, we have all had experiences with either pre-paid telephone cards, gift cards or the omnipresent debit cards. These are all convenient ways to store money that can be utilized either by a specific individual or by the person possessing the card. More recently, the concept of payroll cards has been introduced as an alternative way to provide payroll funds to individuals. These cards are a fairly basic concept that may sound familiar. Load an employee’s payroll funds onto a card that can then either be withdrawn from an automated teller machine (ATM) or used to purchase goods and/or services up to the amount associated with the card, just like a debit card. The card, once all funds have been used, can either be re-loaded with funds or discarded. Therefore, instead of an employee receiving a paycheck they receive payroll funds in an account via direct deposit and they are able to retrieve their funds through their payroll card.
The issuance of payroll cards to employees is not completely new. The U.S. government, for example, maintains several contracts among the four branches of the military to provide an efficient, electronic means of distributing funds to service men and women. This is particularly helpful when those employees are overseas or aboard ships where access to banks is limited or non-existent. By providing an electronic means of distributing funds, this eliminates the need for currency, coins, vouchers, money orders, etc.
In addition to the convenience of use, payroll cards offer an added level of security. Typically, the cards use a multilayered integrated chip, which controls access to the funds. The chip is programmed with a user key or personal identification number (PIN). Funds cannot be distributed without the use of the PIN, which only the cardholder knows.
From a much larger perspective, there are about 50 to 60 million people within the U.S. who do not have a traditional bank account. Many of these same individuals do not have credit cards either. We live in a culture that revolves around transactions; transactions that are, by design, quick and convenient. Individuals without a traditional bank account are unable to participate in a large amount of transactions such as general eCommerce, point-of-sale transactions, electronic payment to creditors, etc. Basically, anything where cash is not either accepted or a viable option is simply not available to these individuals. More importantly, individuals who do not possess a bank account are unable to participate in traditional direct deposit offerings.
According to the Federal Reserve Bank of New York, there are approximately 20 million users of these types of cards and that number is expected to increase to more that 49 million by 2008. Obviously, the trend towards a greater level of acceptance is growing. In 2003, these types of cards were used to make $42 billion in transactions. By 2006, more than $72 billion worth of transactions are expected. Experts have indicated that the industry is in the introductory stage of its life cycle, which suggests that there is still substantial growth potential in the near future.
Problems and Solutions
Currently, you may be offering a direct deposit solution for your employees. Direct deposit is a method of payment to your employees which electronically credits their checking or savings account or possibly both. This is a service that you may provide as a benefit to your employees who have been with you for a defined period of time. Even though it may be a benefit to your employees, it also provides a tremendous benefit to your organization. The benefits of such an offering include decreased processing time for payroll, increased security as the funds go directly into an account, reduced fees for stop payment of checks, no lost checks, decreased employee payroll issues, etc. According to the American Payroll Association (APA), these savings equate to approximately $2.00 per contingent employee per pay period.
Many firms have the desire to move towards a greater level of employee participation in direct deposit since the efficiencies are proven and dramatic. The reasons for both employee and employer to find value are obvious. But sometimes just encouraging the idea with your employees is simply not good enough. In many cases, it needs to be a policy of education and commitment to increase participation. However, this is assuming that all of your employees can participate in direct deposit. That may not be the case; take those employees who do not have a checking or savings account, regardless of education or policy, these employees cannot participate.
One new solution for firms desiring to increase employee participation in direct deposit is what is commonly referred to as Payroll cards. A Payroll Card is, in essence, just like direct deposit as funds are electronically deposited into an account that the employee can access. The major differentiator is that payroll cards can accommodate those employees who do not have bank accounts.
Major Benefits of Payroll Cards
For Employees:
- Funds are immediately available in account
- No approval needed; everyone is qualified
- No check cashing fees
- No waiting in lines to cash checks
- PIN protected; which provides added security
- Purchasing power through POS vendors
- No lost checks
- ATM withdrawal
- No need to carry cash on hand
- Funds are FDIC insured
- Transfer funds
- Pay bills online
For Staffing Company Employers:
- Decrease cost of distribution of checks
- Fills gap in direct deposit participation
- Increases efficiency of payroll
- Decreases potential check fraud and lost checks
- Eliminates stop payment fees for lost or stolen checks
- Timely payroll even when employees are away
- Provides major benefit at minimal cost
- Improves employee loyalty
Challenges for the ‘un-banked’ provide opportunities for better service
There are not many categories that you can split your employees into easily; however, one thing is trueeither your employees have a bank account or they do not. Those employees that have a bank account are commonly referred to as ‘banked’ and those that do not have a bank account are referred to as ‘un-banked’ or ’self-banked.’ For banked employees, in most cases, their bank will accept direct deposit of funds. It saves their financial institution money just as it saves your organization money.
Un-banked employees face many obstacles in managing their payroll checks. Simply cashing their checks may induce charges such as check cashing fees from the bank issuing the check or check cashing services. Many banks are now charging a $5 per check cashing fee to non-customers in an effort to decrease their operating costs and minimize teller transactions. The other option is to use a check cashing service, which may charge from two percent to seven percent or more. That translates to $5 to $17 a week for a $250 check. Both of these options are drawing significant fees just for the purpose of turning electronic funds into cash.
While for some this may be something worth paying for, it may be a major penalty to others who desire a different way of managing their money other than carrying cash around. On the employer side of the equation, there are significant costs as well. The cost can be associated with several aspects of administrative duties, including processing time of payroll, lost checks and their associated costs, etc. From the perspective of the employer’s potential savings, there was a study conducted in 1999 by the National Automated Clearing House Association (NACHA), which indicated that an employer would save an average of $48 per year per employee by eliminating the process of generating paper paychecks.
From another perspective, there are many individuals that may have a bank account but may not have a credit card or, if they do possess a credit card it may be so close to the limit that making a transaction is not possible. Among individuals in the U.S. with credit cards, more than 40 percent are within five percent of their credit limit. That means that the credit provided by the card for a transaction has been basically exhausted. The credit card is then working like a debit card since the user must pay down the limit on the card in order to make a transaction. Making larger purchases requires a good credit score. Simply possessing a bank account does not necessarily improve a credit rating.
The credit-challenged need the opportunity to improve their credit scores. Tom Miezejeski, Vice President of Research for The PELORUS Group has indicated, “due to this situation, a possibility exists for a major shift from credit to debit cards. The potential intensifies when one takes into account the recent settlement by Visa
taking-a-look-at-your-finances
Taking a Look at Your Finances
Writen by Martin Lukac
Have you ever sat down and taken a good hard look at your finances?
I’m not just talking balancing the checkbook. I mean every single part of your finances. If you’ve never thought about it before — you should now. Think of it as a way to see where you are and where you are going. You could be surprised.
Start by simply writing down what your financial goals are. Do this without looking at your checkbook or savings accounts. Simply list what is important to you financially. This could be saving for retirement, paying off your debt or even working on a college savings fund for your children.
Now look at you checkbook, savings, budgeting (or lack of) and other financial accounts to see if you are on the right track. See how much debt you have paid off in the last year. If you haven’t been paying more than the minimum payments, you aren’t getting anywhere. You can really see this if you compare this monthly statement to last year’s monthly statement for your credit cards.
Or perhaps you do see that your investment accounts have grown appropriately. But maybe you’ve been putting too much into your children’s college funds and not enough into your retirement savings. Calculate how much you will need at retirement and assess whether or not you are on the right track.
Take the time to sit down and look over all of your insurance policies. Over time, many personal insurance needs change. It may be that you no longer need maternity coverage on your health insurance. Or perhaps you need to increase your term life insurance policy. Look at your homeowner’s insurance to see if you need to increase the personal property coverage or even the coverage amount on the home itself. Having the correct coverage can save you a lot of heartache and money in the case of an emergency or disaster.
Look at the changes in your life. Perhaps you’ve had a child or changed jobs. How do these events affect your money? You may need to change your budget, your savings or your investments.
Make sure that your finances are well protected. Everyone, whether or not they have children, should have a will. Review it regularly and update it as you have children or purchase long-term, big-ticket items.
Review your investments and make sure that they are performing as you need them and expect them to. As you grow older, you need to adjust the diversification of your investments to reflect a more conservative tactic. When reaching retirement, you don’t want to take any unnecessary risks with your money.
You should give your finances a complete checkup once or twice a year. The more you do it, the more you will see. Regular reviews of your finances also reinforce the importance of your goals. You will be less tempted to spend and motivated to save more for those things you want.
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Martin Lukac (http://www.MartinLukac.com), represents http://www.RateEmpire.com and http://www.1AmericanFinancial.com, a finance web-company specializing in real estate/mortgage market. We specialize in daily updates, rate predictions, mortgage rates and more. Find low home loan mortgage interest rates from hundreds of mortgage companies! |
skiptracing-locating-debtors-who-have-skipped-town-with-your-money
Skip-Tracing: Locating Debtors Who Have ‘Skipped’ Town With Your Money
Writen by Steve Austin
Skip tracing is a technique usually employed by debt collection agencies to track down bad debtors looking to evade payment of debt. Hence skip tracing forms an integral part of debt recovery solutions.
Skip tracing can be literally defined as the technique employed to trace and locate persons who have intentionally or non-intentionally vanished without leaving behind a trail. Such an act of absconding can be due to evasion of financial or legal liabilities.
The factors that are critical for skip tracing include the nature of the case pertaining to which the person is to be located, the time elapsed since last recorded location, resources that may be relevant in tracing, and also the most likely whereabouts of the absconding person.
Collection agencies adopt the following techniques for skip tracing:
Past data or information assimilation. Collection agencies try and collect as much relevant information about the person as possible. This includes:
Identity Details
i. Person’s name
ii. Spouse’s name and occupation
iii. Social security number
iv. Date of birth
v. Address details
Occupational Details
i. Educational and occupation certifications
ii. Employment details
Documentation Details
i. Driver’s license
ii. Passport
iii. Credit report from credit bureaus
Verification of existing records.
All the above-acquired information is verified by collection agencies for authenticity and for exploring any further linkups to new information. Collection agencies, then, employ mining techniques such as tracking credit card transactions, insurance inquires, judicial documents, criminal records, notices from revenue departments, etc. Also used in skip tracing are:
Techniques such as making use of Internet search engines, email directories, public records, etc also help collection agencies in skip tracing
Credit bureaus are the best place to locate the absconding debtor as these agencies maintain their demographic information and their credit history.
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Collection Agency Services offers you a wealth of information on how to select the best collection agency for your business. |
