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Month: August 2018

Taking Care of Business At Home – A Personal Finance Checklist

Why would you not consider yourself a business of ONE person? Or your family as a business of 3 or more people? Well that is exactly what you are – “Me Incorporated”, “I Inc”, “We Incorporated”. You truly must consider yourself a small family business. Like any business you have ongoing expenses (mortgage, rent, utilities, groceries), revenue (salary and other income) and major capital expenditures (house, vehicle, vacations, renovations).

Like any good ‘household business’, you need to do some planning. Set out a budget for the year, track your expenditures and retained earnings (savings). Yes, all of this looks, feels and is exactly like a well run business. On My Gosh! Don’t rush out and buy an accounting package to run your household. And no need to take a crash course on accounting or bookkeeping. You can accomplish all your financial tracking and planning requirements with some paper or by using a simple template with your favorite spreadsheet package – Microsoft Excel or even with Open Office.

Just like a well run business, your household budget and tracking your spending is best served using a visible record of events; namely, financial records, bank or check register. It is just like tracking your road trip progress using a map. If you know where you are now, then you will have some idea when you will arrive at your destination. In life, money or finances allows you to get to your personal destinations or dreams. A visible financial roadmap of your ‘Me Incorporated’ finances, mapping your progress, seems logical.

Running your ‘Household Business’, like corporate business, requires a few processes to keep track of your finances:

1) Establish a yearly and monthly household budget. Consider all your expenses – weekly, monthly, quarterly and yearly outlays of money. You will be surprised at the length of this list and all the places you spend your money.

2) Track monthly your actually spending and income against the budget you established in step 1. This will help you see the ‘peaks and valleys’ of spending or seasonality aspect of your expenses. Over time, you will come to know these expense ‘peaks and valleys’ and this will help you maintain a positive cash flow. Bottom line: have money in the bank to pay all your expenses and still have some left over (retained earnings). Your single biggest challenge in running any household (or business) is always having enough money in the bank to pay the bills; especially, the unexpected ones. Having a buffer of savings will help with these ‘peaks’ in expenses.

3) Track all your bank account activity. Track and enter in your Bank or Check Register every deposit, every electronic (ATM, web, PayPal, debit machine) transaction and every analog (check, money order) withdrawal. And reconcile your bank statement every month. Know exactly how much money you have available in your bank account(s).

4) Especially track your spending through credit cards and lines of credit. These are potentially the ‘run away’ expenses. Remember only once …

Why Making More Money Does not Solve Your Money Problems

Many people today are in debt, and it is a very common idea to try to make more money somehow to help solve the problem. The other main strategy people commonly use is to save on expenses (live cheap). Most people never try the third strategy, and that is to spend time on a regular basis to gain control over their cash flow. This is why most people will remain poor, and why YOU have a chance RIGHT NOW to change the direction of your financial life.

You will often hear people blame their weight problem on cookies and cakes, or sometimes you have heard someone blame their poor sports performance on faulty equipment. In both cases, the person has decided to look externally for the cause instead of internally. It makes the person feel OK with themselves even though they DO NOTHING to improve their crappy results. The same is true when it comes money.

Obviously, the cake is not responsible for the weight gain. A person is either in control or not in control. If you surround person with lots of cakes, it is likely to become more obvious that the person has a control problem when it comes to cakes. The same is true with money. When a person with a money control problem has access to lots of money, it becomes more obvious that the person has a control problem with money.

On the other hand, time spent at practice will give a tennis player more ability and control using the equipment. A dollar is the equipment used when it comes to personal finance. If you learn how to use this instrument, you can become wealthy in less than 4 years working at a $ 7.00 an hour job. If you do not learn how to control this instrument, you may make $ 100,000 a year and still actually be poor, or you may even win the lottery and yet find yourself poor just a short time later.

The person that you are is nearly approached to your pattern of behavior. To change patterns of behavior, you often need to change who you are at the core. People who do not whole-heartedly want the change will likely fail in this. It is true for the cake eating weight watcher, it is true for the so-so sports player, and it is true for YOU if you invest your time all day paying attention to someone else's business only to come home and FAIL to spend just one hour a day paying attention to your own financial business.

Let me leave you on this final thought … do not fail to begin because you do not know where to start. Read or listen to quality audios on the subjects of cash flow management, personal finance, investing, small business, and real estate. Find books and audios of mentors you would like to learn from. If you are serious about investing an hour every day to become wealthy, you will …

Three Fundamental Tips On How To Succeed In Business

Do you want to be successful in business? This seems like a silly question to ask. It is like asking a hungry person whether he or she wants food to eat. Who does not want to be successful in business? Let us see some simple tips that can ensure success in your business endeavors.

Open a Bank Account:

Of course, there are various ways of receiving money. People can pay in cash, check, through debit or credit cards, or even through the electronic method. You will need to have a bank account to collect the funds. Therefore, opening a bank account is the first thing you have to do in business. You can start with a simple current account. As your business develops, you can ask for a line of credit from the bank.

Hire a good accountant:

You have done the first step. Now, you need someone to keep track of your billing and payments. There are two ways of doing it. One way is to handle things on your own. The second and more sensible way is to hire an accountant to do the job for you. Naturally, he or she should be adept at preparing financial statements, tax returns, etc. There are software programs to take care of these aspects. A good accountant should be able to manage the software programs as well.

Have a good budget:

Driving a boat in a calm sea is very easy. Anyone can do it. Maneuvering the boat in choppy waters requires tremendous skills. Similarly, every cash management plan may have holes in it. You never know where and how your money starts leaking. At the end of the day, you should have enough money in the bank as savings. You will have to have a neat budget to enable this. Without a budget, it is like driving a car blindfolded. You never know where you will crash.

Bonus Tip: Money Management:

In business, people measure success by the amount of money you earn. Hence, money management becomes the most important aspect of becoming successful in business.

You might be a product manufacturer or a service provider. It does not matter at all. It all boils down to the fact that you have to receive money for the value of your products or services to complete the chain. The challenge on hand is learning how to receive the money and how to grow it when you receive it.


You have seen three simple tricks on how to effectively manage your resources better.…

The Internet Money Pie – It Is Not Too Late to Claim Your Piece

The internet money pie is the only one anyone can bite into and still there will be a lot left for the rest. Indeed, the worldwide economies are slowing down, and here in the US we are not necessarily in a picnic.

After that, the internet money pie is not shrinking at all, on the contrary, it only gets bigger and bigger everyday; however, I am sure you have heard many failed online entrepreneurs say:

Do not waste your time, it is impossible to make money online, there are too many people pursuing the same goal and there is too much competition, get a real job …

It is true, there are many people pursuing their share of the internet money (as I like to call it) and you will find a lot of competition, but also you will find that this pie is growing and growing like foam, because no matter what the economic crisis, everyday we have thousands of new users on pc's, pda's and other web surfing devices. And this will not stop, you can rest assured that the internet money pie is here to stay and will keep on multiplying by the minute.

On the other hand, getting you share of the internet money is not necessarily bound to the realms of e-tail or online marketing these days. Today you can find the most varied ways to fill your plate with a big piece of the internet money pie, all of which you can execute absolutely from your pc, meaning you can make money anywhere.

Just to mention a few examples, besides from affiliate marketing and other online marketing efforts, you can claim your cut of the internet money by forex trading, stock trading, taking surveys and more. The possibilities are simply infinite, but only if you have the will to give it a shot no matter what.

There are some incredible tools and resources for every taste out there, so whether you think your best shot is at forex or stock trading, paid surveys or affiliate marketing, you will find that there are really reliable systems, softwares and other products that will quickly turn you into a near expert within any field, allowing you to start savoring your piece of the internet money pie almost right away.

It is important for you to be well informed and carefully evaluate all the options to make sure they will work for you. Do that and you will surely make a wise choice that will deliver the goods sooner than you think. …

A Business Speaker Discusses the Challenges of Change

Handling any kind of major changes for a group can be difficult, but not for the business speaker. The reactions by many people are not what you might expect and you are introduced to many new problems. This is the time when you need to lessen the possibilities of errors that could come about by looking into a few tips.

Putting forth the assertion of your authority is the first step that you will need to take. While you can still get along with people, they need to be aware of your leadership and respect that level. If there are rules that need to be set forth, then make those rules known to everyone, not just a few. Showing authority will hold your group together, instead of causing chaos.

Also, consider that the time you spend is very valuable and you want to make sure that everything runs smoothly within it. There is less room for errors at this point so everyone must keep to their schedules and meet every deadline. The keynote speaker knows that having a committee run a group will only lead to deformations in the ranks. One person with full authority is the best option to consider for maintaining order with large groups.

Respect is a huge part of being able to have people look up to you. You need to make sure that you are credible to all who work under you so they feel a sense of trust with you. Now this should not be taken as trying to win a popularity contest with those around you. Show your authority by keeping the focus on the goal and doing whatever it takes to achieve that goal.

You can rule as a leader over a group where not everyone is going to like you, but remember what you are trying to do. Control is the key and keeping a good level of it without being too controlling is the best option. Listen to what others have to say and know that you may not have all the answers to their questions. It is okay to not have every answer, but they will respect you for the fact that you took the time to listen to them.

Setting priorities is the basis of everything that you need for your group to stay on task. When you have these straightened out and assigned to those that can complete them, the results are positive. Remind your group that when problems arise, this is not the time to start losing the focus. There may be confusion among many, but remind them of their exact tasks that they need to complete.

While you are the leader among the masses in the group, you will have to deal with those that will not agree with the change. Make a plan to stop the problems before they start by showing your leadership skills and mapping out the changes. With the business speaker you will be able to lead your group to excellence …

How to Be Elegant

Secrets of Self Confidence, Poise and Gracefulness

"To be elegant is first of all to know oneself, and to know oneself well requires a certain amount of reflection and intelligence."

There are two parts of becoming elegant .

The following article speaks about an inner and outer elegance, starting from inner elegance because I believe true elegance starts from within.

Everyone knows somebody who we think is elegant.

She could be a celebrity. That girl who sees to have it all together. The one with all the designer clothes and bags. The soft spoken girl who speaks eloquently.

She could be who you want to be.

We express this hope in many ways. We buy the nicest things, dress our best and carry classy designer goods. Does that mean we are elegant? Not necessarily so.

I've been trying to define the elegant woman for as long as I can remember. Dictionary.com defines an elegant woman is one who is pleasantly graceful and stylish in appearance and manner.

She is so much more.

For me, that woman is (but not limited to), Audrey Hepburn. She moved gracefully, never sloppy, never tired, always bright and sparkly yet pleasantly quiet, thoughtful. She is full of love, graciousness and compassion. She is always on time, works hard at whatever she finds in her hands to do, whether it was coming to the set with all lines memorized or to give a moving speech to thousands with her work at Unicef.

After her vital life, her heart and values ​​were always with her family. She also enjoys fashion and good clothes, but they were never a priority over the feelings of others. She preferred a quiet life but worked hard and saved to provide a comfortable and normal life for her children. When she felt she had enough, she stopped working and relished in her role as a full time mother, only flying in to give an interview and flying out the very next day to return to her home in Switzerland.

Her very elegant essence could not even escape the character she portrayed in movies.

In Breakfast At Tiffany's, the character Holly Golightly was a social climber, who often used men and sometimes get compromised with her value for money and connections. Yet, when Audrey embodied the role, she took it to a reality where it made her audience believe she was simply a lost country farm girl, silly and innocent and very much lost, like dove and caused everyone to have compassion on her character.

She made Holly Golightly a more tasteful character. I was determined to find out the essence of elegance from the wonderful Audrey Hepburn. In my research, I constantly asked, what was "it" that made her so?

It is possible that I have read every book and documentation about her. Who was she? What was she like? In reality, I've stumbled upon a woman with imperfections, insecurities and yet had a resolve made of steel to remain true to …

Money Mastery – Three Easy Steps to Mastering Your Financial Destiny

When I was a kid I was constantly told, "We can not afford that; we can only get this; ask your dad if you can have that; you must save your money for a rainy day; start saving now for retirement." Do not get me wrong, I understand the intent of some of these messages and that they may even hold value for some people but I also have learned that these statements can lead to potential financial paralysis.

By hearing those statements over and over again, I developed what could have been my Money Destiny. That Money Destiny led me to believe I would never have enough money, that I must always save and never spend, and that I was not financially safe. These messages repeated themselves in my mind every time I needed to make a money decision or anytime I thought about money. Soon thereafter I found myself resenting the "mean green" and at times wanting to rebel against it. Thank goodness I realized one day that should I continue down this same Money Destiny road, I was destined to have just enough (not plenty) or none at all for that matter or worry about money constantly, and stay in the middleclass.

When I noticed how I was making decisions that would keep me in the same place and never propel me forward financially, I knew it was time to bust my old patterns, break debilitating money-habits, and create a new money system, a new Money Destiny. Doing this was going to take some mental, emotional, spiritual, and physical work, oh yeah, and financial work as well! It meant I was going to have to stop listening to what I had been told all my years growing up as a child as well as stop playing the "tape recording" of these messages over in my mind. It also meant I was going to have to buck this old system every time it flashed before my eyes! My intention in sharing this article with you is to help you break down your conditioned mindset and build it up with a new one that actually works with you and not against you. This is a mindset that YOU are going to create, nobody else will be creating it for you. Is not that exciting?

So what does mastering money look like? Mastering your money literally boils down to one thing: your mindset. Have you ever noticed that when your bills are paid off for the month and you have some extra "bread" in savings, you are just bouncing around the planet like you are rich (even if you are not)? However, on the contrary, have you noticed that when you do not have enough to make ends meet and you're struggling to figure out where the next dollar will come from to pay your rent or mortgage, you never seem to see the light ? And, have you ever noticed that you actually decided, either consciously or subconsciously, which …

Making Money Sports Betting Requires A Plan

Millions of people the world over bet on sports. Most of them have no idea what they are doing. They bounce from one system to the next hiring for some miracle that will win every time. Or they spend hours looking at stats hoping to find some intuitive edge they can bet. They would be better off flipping a coin, or not betting at all.

Making money betting on sports requires a plan. And that plan should not include reliance upon a betting system that promises you will never lose. Even the best picks lose about 40{4917788a0bd7aa7369c2a945027b4fe6c9853cda4150a24fe1255b18ce3083dc} of the time. Accepting your losses should be part of the plan. The goal is not to never lose, just to win more than you lose.

Winning requires that you pick the winner 53{4917788a0bd7aa7369c2a945027b4fe6c9853cda4150a24fe1255b18ce3083dc} or more of the time. That requires you bet only on games that have at least a 53{4917788a0bd7aa7369c2a945027b4fe6c9853cda4150a24fe1255b18ce3083dc} probability of going your way. In the NFL and NBA, known edges can be found in certain point spread situations. In other sports you must be able to identify motivated teams to bet on in advantageous situations.

However you decide to do it, making money betting on sports requires a plan to be successful. You can not do the impossible, so why waste your bankroll trying when all it really takes is smart betting?

Your plan should be to bet only on games where you either have a known edge, or very good reason to believe an edge is there. The best sports pick is nothing more than a guess that has at least a 40{4917788a0bd7aa7369c2a945027b4fe6c9853cda4150a24fe1255b18ce3083dc} chance of losing. Those guesses are not beyond the average bettor with a plan. …

How to Succeed in Network Marketing Using a Funded Proposal to Make Money Now

If you are a struggling network marketer and tired of losing money using worn out marketing methods like, handing out business cards & flyers, chasing friends & family, cold calling genealogy lists, buying expensive low quality leads or basically dialing for dollars, I'm here to tell you there is a much better way to build your business and make money online now.

How would you like to get paid to prospect even when people do not join your team? This is a concept known as the "Funded Proposal". This is the practice of selling an inexpensive, but helpful retail product that is sold on the front end to offset your advertising costs, and then selling your product, service or "opportunity"

This business model is the most vital part of a network marketing system because it helps even the playing field financially long enough to generate enough momentum and enjoy the fruits of your labor.

Here are five benefits of a funded proposal.

1: The strong sales rate of an information product funds your advertising and investments your cash flow instantly. It's possible to decrease your costs to zero dollars ($ 0) or even make a profit by retailing an inexpensive product information to your leads in the beginning. The importance of this is crucial because 95{4917788a0bd7aa7369c2a945027b4fe6c9853cda4150a24fe1255b18ce3083dc} plus will never join your primary business.

This means you're passing up 95{4917788a0bd7aa7369c2a945027b4fe6c9853cda4150a24fe1255b18ce3083dc} of your possible income by not promoting affiliate products or services to them.

2: It's always easier to sponsor an existing customer than trying to sponsor a complete stranger. Pitching your prospect on your business opportunity the first time you meet is not a good idea. It would be much better to sell an inexpensive information product that will help them.

Why? Because you want to develop a relationship and build trust first. You want to show them how the TOP income earners make money in this industry with legitimate marketing (not flyers & handouts).

3: Position yourself as a leader instead of a peddler like everyone else. To build respect and trust you need to put your prospects needs, wants and desires before your own and offer them more than just another opportunity. You offer solutions, a system, and your help, positioning you as an Alpha leader because that is what an Alpha does.

4: The other huge benefit is you get a chance to pre-train and educate your prospects that may become your future business partners instead of just selling them on hype, which is a very narrow view of the big picture. It is much smarter in the long run to sell them a retail product that will help them to become a better business owner right from the beginning.

5: This is the fastest way to get your newest reps into positive cash flow immediately. By marketing a low cost, rapidly selling retail product in the beginning, it helps fund your advertising campaign and gets your new reps into cash flow as soon as possible, creating momentum …

Small Business Insurance – Who Needs It?

Who Needs Small Business Insurance, Anyway?

You do! Small business insurance is one of the most critical components of planning for your new venture. Whatever your business involves working in a high-risk environment like heavy construction, or a relatively low-risk one such as running an in-house consulting business, you are constantly exposed to the liabilities that can put your business and your future at risk.

Some business owners are required to maintain insurance coverage. Restaurants, hotels, health care facilities … they all have minimal limits that are imposed upon them by their industry, municipal entities, or their landlords. But what about your small business? You may be retired or just starting out, maybe you're considering using your knowledge of antiques or your talent as an artist to start your own shop or gallery. How risky can that possibly be?

Assess the Risks

In today's world, risk management is no longer the exclusive domain of large corporations. Every small business is different, with a unique set of risks. An experienced small business insurance agency can advise you on what your present and future needs may be, and keep you up to date on any Federal, State, or Local regulatory requirements you may be subject to.

A good insurance agent will review your company needs; an excellent one will take the time to visit your company and discuss your requirements with you directly.

Be Prepared!

As your business grows, your small business insurance coverage should grow with you. It's easy to get cooked up in the excitement and activity as success begins to take root, and insurance is the LAST thing on your mind … until you need it. Make sure when you choose an agent, you are getting someone with your best interest in mind, who will continuously monitor where you are and make suggestions when necessary.

Are you taking on employees? Opening another shop or office? Considering additional human resource programs? Taking on additional risk? You may need to look at several types of coverage:

  • Workers' Compensation
  • Contractor's Liability
  • License Bonds, Court Bonds, Performance or Fidelity Bonds
  • Employee Benefit Administration

The Benefits – Because Things happen

The benefit of having good small business insurance is most obvious when the unexpected happens.

Do not be cut off guard … without proper coverage your business liability can extend to your personal life as well. Knowing you have the right coverage up front offers you both peace of mind and security. When and if you have a loss or a setback, you will be able to continue moving forward with confidence, and the tools you need to stay in business!

There is no doubt about it – Insurance can be complicated. There is so much to understand and so many details that it can quickly become overwhelming! The very best option? Find a qualified small business insurance agency you trust – one that is familiar with you, your local community and is responsive within the insurance industry as well. …