Your finances don't have to be a problem and you don't need to be complacent and let your husband do all the finances. You have to know what's going on for your own self-preservation. Money is a subject too easily walked around. It's one of the top two problems in today's marriages. You need to know about your money and finances and even your credit score.
Money is sometimes avoided in hopes that you will find a rich, nice guy, a dream job, an unknown rich relative leaves you a bunch of money or you win a lottery. It's not going to happen. You have to sit down and examine where you are going with your money. Statistics show women born between 1946 and 1964 that have failed to save for retirement will have to work until they are 74. Who will keep you hired until you are 74? Will social security still be in place?
So maybe you did marry Mr. Right, but what if Mr. Right turns into Mr. Wrong but before you find about his subsequent name change, he financially ruins you. My friend Judy got divorced with nothing, not even a credit score. She might as well have been 18 years old again starting over. Her husband even took the shoes off her feet and made her leave. He makes $80,000 a year, she makes $6 an hour and he's suing her for child support. Her life was once picture perfect and she was all taken care of – or she thought. Now she lives on the brink of eviction. She didn't have money to contest the divorce, so he got everything – including his 401k.
Is your 401k starving? Most women have less than $10,000 in theirs. Maybe that's why 87% of the impoverished elderly are women. Most women say they can't afford to put any more into their 401k. Here's the trick. Always contribute to get your employer's 100% match. If they match up to 6%, then you have to get to 6% as soon as possible. The longer you wait, the more free money you are giving away. Then, each year, you need to up your contribution at least 1%. More if you are older. You will adjust to your net pay very quickly and never know the money is gone. Hard to believe, I know.
What to do? Keep your eye on the bottom line. Take baby steps to get there so you don't get overwhelmed, but keep abreast at least once a year where you are heading financially or face the consequences of trying to live on the dwindling social security benefits. Watch the family budget and total money spent. Review your money with your husband at least once a year. It's not a trust thing, just as a curiosity. Make sure your name is on some loans so you will have credit, but if they are on the loans, make sure they are paid. You can keep your financial security intact no matter what your future holds.
About the Author:
Stuart Simpson http://www.401k-review.com
Source: www.isnare.com
Saturday, October 20, 2007
Your Competitors Offer Leasing Finance, you should ask yourself WHY?
The simple answer to this question is that they are offering finance to their customers as a sales, marketing & deal closing tool. It cements their relationships with their customers because leasing finance can usually be offered the same day. The customer is then more likely to return in the future because of the financing is arranged with minimum hassles and no time consuming trips to the bank manager. This type of financing arrangement is known as a "Vendor Program"
Can I Offer Finance to my Customers?
Again, the answer to this question is yes. You can benefit from establishing a relationship / partnership with an appropriate lender and start taking advantage of the sales & marketing opportunities and shortened sales cycle. Your Company, Sales Team and Customers all benefit from a Vendor Program arrangement that can be set up with minimal training and effort on your part.
So now, let us take a look at the benefits in a few more details
Sales Benefits
Finance adds value to your product, by including finance as part of your whole package you make it easier for your customer to buy therefore your sales team will find it easier to close more deals. Deal closing opportunities present themselves via price flexibility, you could discount products & claw back via finance or sell at full price but offer low cost finance. If you have customers who arrange their own finance then you already have the demand for the service, which means that some customers who require finance are probably going elsewhere! Fast finance decisions means that customers are less prone to changes of mind or finding a better deal elsewhere. If you allow others to offer finance facilities you will not be in control of the interest rate & sales could be lost / delayed. Finally, additional Leads can be gained by innovative pricing schemes.
Customer Benefits
You offer, a single point of contact for customers requiring finance for equipment. Quick finance decisions means quick delivery of equipment. Leasing allows customers to upgrade and replace equipment easily with just a simple adjustment in rentals. A near guaranteed acceptance of all finance proposals, start up companies are the more difficult proposals but can be done. Finally there are the tax benefits of leasing, payments are 100% tax deductible, cash and existing credit lines are preserved.
Company Benefits
If you offer finance it presents a barrier to competitors, if it's easy for your customer to keep trading in and trading up with you, your competitors do not get a look-in and as used equipment comes back to the vendor, the second-hand market can be controlled. Vendor maintenance can be made a condition of the leasing, increasing the vendor's profits from maintenance activity. Your company can earn commission on finance deals all for filling in a simple finance proposal form. You can choose whether to earn a commission on any deal because you set the interest rate and best of all any commission earned is 100% profit. Just think what could you do with the commission on finance sales, it could allow you to employ extra salesmen with the profits and generate even higher profits!
If you are NOT offering vendor finance & your competitors are you should ask yourself why Today?
Copyright - Mark Dalton
Eland Business Services Limited
www.ebslfinance.co.uk
About the Author
Mark Dalton is the founder of Eland Business Services Limited. For more information about business finance in the UK please visit www.ebslfinance.co.uk
Can I Offer Finance to my Customers?
Again, the answer to this question is yes. You can benefit from establishing a relationship / partnership with an appropriate lender and start taking advantage of the sales & marketing opportunities and shortened sales cycle. Your Company, Sales Team and Customers all benefit from a Vendor Program arrangement that can be set up with minimal training and effort on your part.
So now, let us take a look at the benefits in a few more details
Sales Benefits
Finance adds value to your product, by including finance as part of your whole package you make it easier for your customer to buy therefore your sales team will find it easier to close more deals. Deal closing opportunities present themselves via price flexibility, you could discount products & claw back via finance or sell at full price but offer low cost finance. If you have customers who arrange their own finance then you already have the demand for the service, which means that some customers who require finance are probably going elsewhere! Fast finance decisions means that customers are less prone to changes of mind or finding a better deal elsewhere. If you allow others to offer finance facilities you will not be in control of the interest rate & sales could be lost / delayed. Finally, additional Leads can be gained by innovative pricing schemes.
Customer Benefits
You offer, a single point of contact for customers requiring finance for equipment. Quick finance decisions means quick delivery of equipment. Leasing allows customers to upgrade and replace equipment easily with just a simple adjustment in rentals. A near guaranteed acceptance of all finance proposals, start up companies are the more difficult proposals but can be done. Finally there are the tax benefits of leasing, payments are 100% tax deductible, cash and existing credit lines are preserved.
Company Benefits
If you offer finance it presents a barrier to competitors, if it's easy for your customer to keep trading in and trading up with you, your competitors do not get a look-in and as used equipment comes back to the vendor, the second-hand market can be controlled. Vendor maintenance can be made a condition of the leasing, increasing the vendor's profits from maintenance activity. Your company can earn commission on finance deals all for filling in a simple finance proposal form. You can choose whether to earn a commission on any deal because you set the interest rate and best of all any commission earned is 100% profit. Just think what could you do with the commission on finance sales, it could allow you to employ extra salesmen with the profits and generate even higher profits!
If you are NOT offering vendor finance & your competitors are you should ask yourself why Today?
Copyright - Mark Dalton
Eland Business Services Limited
www.ebslfinance.co.uk
About the Author
Mark Dalton is the founder of Eland Business Services Limited. For more information about business finance in the UK please visit www.ebslfinance.co.uk
Your Finances
By Terry Rigg
Which category do you fall in?
I have determined that financially, people fall into one of three categories.
1. Family 1 has all the money they need for necessities and more and manage it very well.
2. Family 2 has all the money they need for necessities and more but live payday to payday with ever increasing debt.
3. Family 3 don't have enough money for necessities.
The funny thing about the three families above is that they could have exactly the same income and family size. This is not to say that special circumstances has nothing to do with it, but on the average most people live above their means.
Family 1 has established a workable budget. They don't pay more than they can afford for housing, transportation, utilities, etc. They also have money set aside for long and short term savings. This short term savings provides two things. First, it makes money available when the car breaks down, you need a new washer or any number of unexpected expenses that crop up. Second, it prevents the need to use credit cards for these items. The savings here could be hundreds of dollars. Family 1 planned.
Family 2 is still struggling to establish a budget. In many cases their house payments or rent is much more than they can afford. They don't take the time to evaluate the money that could be saved with little effort. Usually there is no short
term savings, let alone short term. They use credit cards as if they were cash and pay hundreds of dollars in unnessary finance charges and penalities. These people find themselves with financial problems that often leads to bankruptcy. Family
2 either didn't plan or may not know how the handle their finances.
Family 3 has given up on a budget. No matter what they do there isn't enough money to pay for housing and other necessities. They struggle to put food on the table. Most don't qualify for credit cards, which is a good thing. In some cases this
situation is self inflicted and some are due to circumstances.
What is the answer to these problems?
Family 1 - Leave these people alone unless you plan to ask their advice.
Family 2 - These are the people that need to seek help and stand a chance of becoming a family 1 family. The possible solutions include a debt management company like Consumer Credit Counseling Service. They need to establish a budget and stick to it. If their housing and other expenses are too high, then they need to cut back, even if they have to move. They also need to cut up the credit cards and think about consolidating. Depending on how far they are in debt, this could take years.
Family 3 - While their struggle seems useless, there are things that can be done. First, they need to see to it that everything is being done to keep expenses down. The electric bill is a good example. There is federally subsidized housing that only
charges a small fee based on your income. Make sure that they are receiving all federal and state benefits that they are entitled. If they are able, they should seek job training or some other means to make their life a little better.
Which family are you? No matter whether your are family 1, 2 or 3, there is hope. The primary thing that must be done is to educate everyone that learning to managing their finances is absolutely for their peace of mind. With the vast amount of
information on the internet providing help, this is possible.
If you are a family 2 or 3 family, "The Complete Budget and Bill Organizer" http://www.homemoneyhelp.com/BBOonline.html can help.
About the Author
Terry Rigg is the author of Living Within Your Means - The Easy Way http://www.homemoneyhelp.com/ebookadpage.html and editor of The FREE Budget Stretcher Newsletter and Budget Stretcher web site http://www.homemoneyhelp.com. He has 25 years of experience counseling individuals and families concerning their personal finances. Use this email link to get a list of all of Terry's articles by autoresponder at: articlelist@budgetstretcherpremium.com
Which category do you fall in?
I have determined that financially, people fall into one of three categories.
1. Family 1 has all the money they need for necessities and more and manage it very well.
2. Family 2 has all the money they need for necessities and more but live payday to payday with ever increasing debt.
3. Family 3 don't have enough money for necessities.
The funny thing about the three families above is that they could have exactly the same income and family size. This is not to say that special circumstances has nothing to do with it, but on the average most people live above their means.
Family 1 has established a workable budget. They don't pay more than they can afford for housing, transportation, utilities, etc. They also have money set aside for long and short term savings. This short term savings provides two things. First, it makes money available when the car breaks down, you need a new washer or any number of unexpected expenses that crop up. Second, it prevents the need to use credit cards for these items. The savings here could be hundreds of dollars. Family 1 planned.
Family 2 is still struggling to establish a budget. In many cases their house payments or rent is much more than they can afford. They don't take the time to evaluate the money that could be saved with little effort. Usually there is no short
term savings, let alone short term. They use credit cards as if they were cash and pay hundreds of dollars in unnessary finance charges and penalities. These people find themselves with financial problems that often leads to bankruptcy. Family
2 either didn't plan or may not know how the handle their finances.
Family 3 has given up on a budget. No matter what they do there isn't enough money to pay for housing and other necessities. They struggle to put food on the table. Most don't qualify for credit cards, which is a good thing. In some cases this
situation is self inflicted and some are due to circumstances.
What is the answer to these problems?
Family 1 - Leave these people alone unless you plan to ask their advice.
Family 2 - These are the people that need to seek help and stand a chance of becoming a family 1 family. The possible solutions include a debt management company like Consumer Credit Counseling Service. They need to establish a budget and stick to it. If their housing and other expenses are too high, then they need to cut back, even if they have to move. They also need to cut up the credit cards and think about consolidating. Depending on how far they are in debt, this could take years.
Family 3 - While their struggle seems useless, there are things that can be done. First, they need to see to it that everything is being done to keep expenses down. The electric bill is a good example. There is federally subsidized housing that only
charges a small fee based on your income. Make sure that they are receiving all federal and state benefits that they are entitled. If they are able, they should seek job training or some other means to make their life a little better.
Which family are you? No matter whether your are family 1, 2 or 3, there is hope. The primary thing that must be done is to educate everyone that learning to managing their finances is absolutely for their peace of mind. With the vast amount of
information on the internet providing help, this is possible.
If you are a family 2 or 3 family, "The Complete Budget and Bill Organizer" http://www.homemoneyhelp.com/BBOonline.html can help.
About the Author
Terry Rigg is the author of Living Within Your Means - The Easy Way http://www.homemoneyhelp.com/ebookadpage.html and editor of The FREE Budget Stretcher Newsletter and Budget Stretcher web site http://www.homemoneyhelp.com. He has 25 years of experience counseling individuals and families concerning their personal finances. Use this email link to get a list of all of Terry's articles by autoresponder at: articlelist@budgetstretcherpremium.com
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