25. June 2016 · Comments Off on Saving Your Money: Insanity Vs Sanity – The Step You Must Take to Change Financial Outcomes · Categories: Finance

Getting your financial house in order is always a good idea. If that is your goal, you have a lot of company! The challenge of any financial resolution is to break an old habit, start a new one or both. Failing to change your habits means you will be financially insane.

There has never been a better time to get financially organized, create a rainy day fund, and take control of your money. It may sound challenging, and you may know from past experience that habits are hard to break or create. One thing is certain: the definition of insanity is doing the same thing over and over and expecting different results. Sanity means changing your behavior and doing things differently, so you will get different results-the ones you want.

However, there’s one single thing you can do that will help you create good financial habits, improve your money management and save more. That one thing? Tracking.

Why? Because tracking works the way our minds and our behaviors work. First, we use our imagination to create a plan. Next we build goals and steps to our plan. Finally, we watch the implementation of our plans or, in other words, we track our steps toward our goals.

Almost all financial gurus agree that tracking is critical to financial organization, saving, and sound money management. Evidently, even banks understood the value of tracking because the only thing they gave away was a checkbook register. In fact, tracking is critical to making any improvements at all. Golfers track to improve scores; dieters track to monitor weight loss. Tracking is a small change that leads to better outcomes.

Simply put, tracking is the cause and effect of your money in real time: where your money comes from and where it goes. Only with that knowledge can you begin to improve your ability to save and reach your financial goals. The good news is that tracking is a small manageable step, and all behaviors are changed with small steps.

So what happened to this old-school, commonsense approach of tracking? Banking technology happened! The use of debit and credit cards coupled with electronic banking has derailed the old-school approach of personal money management that was based on tracking. Banks have convinced their customers that there’s no longer a need to track. You can get your balance with the click of a mouse, at any ATM, or over the phone. The question is: Is the balance correct? It rarely is correct due to a variety of reasons, and as you may have learned, “real-time banking” doesn’t always occur in real time. One major problem is that bank balances tend to reflect “false positives.” A “false positive” occurs when you’ve spent money that hasn’t yet been taken from your account. For example, if you pay a $100 electric bill at the utility’s site, your bank account balance is overstated by that $100 until the electric company removes the money from your account, so you’re led to believe you have more money than you do… unless of course, you’re accurately tracking your money.

The market realizes that consumers want to have more control over their personal finances, and many possible solutions are trying to fix this hole. There are many ways to track: the old-fashioned checkbook register, a spreadsheet, or a simple notebook. There are also plenty of apps available to help you track your money. And there is a new hand-held electronic checkbook which lets you track all of your accounts.

Ideally, you must know your bank balance or credit card balance before you make a purchase. The only way to know that is to track, for yourself, what you have spent and how much is in your account. Whatever method you choose, you will quickly learn that the easy step of tracking will help you alter your spending behaviors, so you can begin saving more money.

As you begin to track your purchases, you will begin to feel a sense of control over your finances-money sanity. Also, you will have the information you need to begin to effectively budget your money and save for a rainy day fund-money sanity. By taking the small step of tracking where and what you spend, you are taking the necessary step to creating the most important good money habit-the habit that will help you achieve your goal of improving your money management and gain financial control and money sanity.

19. June 2016 · Comments Off on Managing Finances Is Key To Successful Business · Categories: Finance

Good financial management is key to running a successful business. The company needs to be on top of its accounts to ensure they are not spending money they don’t have, and to keep an eye on specific areas that are costing them money so that any problems, potential or realized, can be rectified. Bookkeeping is a way of recording the transactions of a business, and accounting is the overall analysis of the company’s performance.

Every single transaction the business makes should be recorded in a cash book, however seemingly insignificant the amount. Problems can and will occur where records are inaccurate or entirely missing. Businesses need to be able to account for every single penny that passes through their hands, both for their own benefit and that of the law – a yearly government audit will soon highlight any irregularities and the company could be heavily penalized. Cash should be forecasted on a weekly and monthly basis, to help the company set a realistic budget that they should stick to. If they record projected spending/earnings, it is becomes easier to see the areas which aren’t performing up to standard, and to target the reasons why. Business need to plan for any short or long term cash requirements for their various growth projects, rather than planning for the profit figures they hope to achieve.

Deposit accounts can be used by businesses to gain interest over a set amount of time on money that is not needed for the day to day running of a business. For example, a business could put away a lump sum for a year, and gain a higher rate of interest on it than they would in a regular account. There are restrictions on a deposit account, however, such as withdrawal conditions, which will be set when the money is deposited. This means money can only be taken from the account as specified intervals, so this could be risk if the money is likely to be needed in any emergency situations. However, they are seen as a fairly safe place to keep money, as interest rates are often guaranteed not to fluctuate over the duration of the deposit.

Trade finance is the another form of lending other than the traditional banking facilities offered, whereby trade financers will help fund the payments need to pay suppliers for their raw materials, finished goods, etc. Trade finance is considered a cheaper method of lending than typical overdrafts/loans, as the interest rate (payback) is lower than that of the banks. On top of this, it can be notoriously difficult to persuade banks to increase overdraft amounts, which can really leave a business struggling if they have no other way to raise the necessary capital to fund their project. Often business will receive large, potentially very lucrative orders, which on completion will generate a large profit; however they struggle to raise the initial money to be able to actually complete the order, which is where trade financers can step in to help, providing the initial funds needed without demanding an extortionate amount for the profits in return.

13. June 2016 · Comments Off on Cheap Car Insurance – How to Reduce the Cost of Owning a Car · Categories: Car Insurance

Car insurance is insurance that is purchased for cars, trucks, motorcycles and other vehicles. The primary aim of a car insurance is to provide financial protection against any physical damage and/or injury to people that may be caused due to a traffic collision and also against liabilities that might arise from them. It is mandatory for cars and it adds up to the cost of owning a car. So it has now become a necessity to get a cheap insurance especially when the cost of owning a car has been on the rise.

Cheap Insurance is something that many insurance companies might boast of. But it is a known fact that not all insurance companies are the same. With loads of companies willing to provide you with cheap car insurance, the first step would be to collect insurance quotes from as many insurance companies as possible. Compare the quotes along with the claim procedures and the conditions of the insurance companies before you decide on the company who is going to provide you with cheap car insurance.

The cost of your car insurance is determined by the type of car you drive. Cars that are prone to theft and certain makes and models cost more to insure. If you are looking for cheap insurance, then be wary about the car model you have. Safer cars will help you get cheap insurance. If safety equipment and anti theft device are fitted on to your car, the chances of theft is reduced and this can help you in getting them cheap. Make sure that the company is wary of the fact that you have safety equipment on your car to strike a good deal for cheap insurance. The deductible amount is the amount that you will pay first out of a claim. This has direct impact on the cost of your policy. To get a cheap deal you can increase the deductible provided you are confident of your driving and are prepared to take the risk. If you are having a relationship with an insurance company, you can bargain for good discounts and thereby landing up with a good deal. The companies do offer good discounts for multiple policies. The internet is a great resource to find an online broker who is giving out good discounts. Above all, drive carefully – How you drive also determines the cost of your car insurance. Cheap car insurance is easier for a safe driver as there are good safe driver discounts that are on offer from the insurance companies.

If you are looking for cheap car insurance, then be prepared to spend some time for it. Get comparable quotes from various companies and analyze them before you make up your mind. The tips mentioned above will help you get the best deals from the top insurance companies, so just go ahead and start looking out for the best cheap insurance for your car.

05. June 2016 · Comments Off on The 5 W’s of Marketplace Health Insurance · Categories: Health Insurance

Knowledge based on the 5W’s of marketplace health insurance should serve as a reliable foundation for understanding and choosing coverage which meets the qualifications of the Obama health plan. The 5W’s stand for what, why, who, when and where.

What is marketplace health insurance?

Marketplace health insurance is coverage obtained through one of the governmental health insurance exchanges which provides a minimum standard of benefits known as the essential health benefits as specified by the Patient Protection and Affordable Care Act, referred to by many as ObamaCare. The plans are sold by private insurance companies and generally are HMO and PPO plans. Each plan has a metal designation of bronze, silver, gold, or platinum, depending upon services covered and the actuarial value of the plan. Marketplace health insurance plans cannot deny coverage or charge a higher premium for pre-existing illnesses. They cover some preventive care services.

Why purchase marketplace insurance?

The answer to this question rests in Affordable-Care-Act subsidies, also known as premium tax credits, and whether or not you qualify. Eligibility for Affordable-Care-Act subsidies is based on annual household income provided that income is at least 133% but less than 400% of the federal poverty level beginning in 2014. The premium tax credit calculation is based on a provision of the Affordable Care Act that no American should spend more than 9.5% of household income on medical insurance premiums. Given that provision, Obama-health-plan insurance could be purchased outside of the marketplace from a broker or insurance company. The dollar amount of the annual premium in excess of that allowed under the Affordable Care Act for a given income level could then be claimed as an end-of-the-year deduction during income tax filing. If the coverage is obtained through a health insurance marketplace however, the credit can be applied to the monthly premium of any Obama-healthcare-plan selected, resulting in a lowering of the monthly premium of the plan.

Who is eligible to purchase marketplace insurance?

Marketplace health insurance through the federal or one of the state insurance exchanges is for individuals and families less than 65 years of age or small businesses with 50 or fewer employees. Eligibility includes United States citizenship and/or legal residence. Additionally, one must not be incarcerated.

When does having medical insurance become mandatory, when can I enroll, and when does the penalty for not having insurance take effect?

January 1, 2014 is the date that most United States citizens and legal residents must have medical insurance coverage or suffer a tax penalty of $95 per adult, $47 per child, or 1% of the annual household income (whichever is greater) if one is uninsured as of January 1, 2014 and coverage has not been obtained by February 15, 2014. Open enrollment will extend until the end of March 2014. If you have a qualifying life-changing event however, such as marriage, relocation to another state, loss of job-based insurance or expiration of COBRA coverage, marketplace insurance can be obtained as an exception at times after the closure of the open-enrollment season in March 2014 and in subsequent years.

Where can I purchase marketplace insurance?

If you reside in a state whose health exchanges operated by the federal government you will need to purchase through that exchange. Alternatively, marketplace health insurance can be purchased through a private health insurance exchange if it has contractual authority granted by the federal government to enroll Obama health plan applicants. As of December 1, 2013, residents of the District of Columbia and states with state operated insurance exchanges must obtain marketplace medical insurance through the state exchanges. Those states are Those states are California, Colorado, Connecticut, Hawaii, Idaho, Kentucky, Maryland, Massachusetts, Minnesota, Nevada, New Mexico, New York, Oregon, Rhode Island, Vermont, and Washington.

FionaJewelry.com is a great wholesale China jewelry dealer that keeps offering new fashion trend in the global fashion market.