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Manage Your Money Flow

Managing your money flow is the second step of building your financial house. It is like building the frame that the rest of the home will be built around.

The concept of managing your money flow is basically making sure that your inflow of cash is less than your outflow of cash. This process is called budgeting. When you create and follow a budget, you are living within your current means and you will avoid accumulating new debt.

When you take the time to create and follow a budget, you begin to see where your money goes each month. Armed with that knowledge you can cut back on some of those wasteful spending habits and free up money to start moving towards your goals.

Managing Your Money Flow Will Help You Reach Your Financial Goals

When you follow a budget, you can allocate money to reaching your financial goals. Maybe you want to save for things like retirement or a down payment on a house. Perhaps you want to start saving money to start that business you’ve been dreaming of. When you follow a budget, you have a plan to get where you want to go. When you have a goal and plan to reach that goal, your chances of getting there are exponentially increased.

Managing Your Money Flow Will Prepare You for Future Wealth

If you are always running out of money with your current income, chances are that you will have the same problem even if you earn more. Statistically, the more money you earn, the more money you’ll spend. This is called Parkinson’s Law. If you do not learn to manage what you have now, earning more money will not solve the problem.

Don’t be fooled by appearances. Many of those high income earners are broke. All of their income is going to pay for their big mortgage, the credit card bills, and the car loans. They are just broke at a different level.

Managing Your Money Flow Will Teach You Discipline

Wealthy people understand the importance of managing their money. They exercise self-discipline and they save up for purchases and earn interest on their savings while they do it. Broke people tend to go for instant gratification and buy things on credit. Often, whatever they buy ends up costing them twice as much by the time they finish paying for the credit card bill.

In the long run, saving up for purchases will actually allow you to buy twice as much stuff compared to buying with credit.

Alternatively, you could have the same amount of stuff, plus build up a big investment account on the side with all the money you save by not paying interest on debt.

Managing Your Money Flow: Conclusion

Over the years of working in the financial industry I have actually met a lot of low income earners that had higher net worths than many doctors and lawyers. This is simply because they managed their money well and allocated a portion each …

Make Money Online – 7 Strategies to Help You Make Money Online and Work From Home

On January 1, 2010 A Google search for “Make Money Online” showed a whopping 11 million results! There are so many confusing options that it is hard to decide which option to choose. What is more, “Make Money Online” is synonymous with scams. The Internet is full of Get Rich Quick Scams and Make Money Online Scams.

In fact it is very difficult to find legitimate ways to work from home and make money online. However, if it was really impossible to make money online then popular websites like Facebook, MySpace, Twitter, Google, etc. would not be making millions of dollars on the internet. Are they not “Making Money Online?” Is it necessary to be a geek if you got to make money online? What exactly does it take to become a successful Internet entrepreneur even if you are not a software engineer?

Throughout the ages we have seen how the poor wish that they had more money to enjoy their lives, and how the rich wish that they had more time and better health to enjoy their lives. Some people genuinely need more money. Some people desire to work from home and spend more time with their family. Some people, whether they desire more money or not, are so caught up in making a living that they forget how to live. Whatever it is, the truth is that most of us often wish to have more money and more free time. What would make it possible to get the best of both the worlds? Anyone who wants to have lots of money, lots of free time, lots of fun, better health, more happiness, more freedom, more success, and more control over their lives should pause and reflect, “Is it really possible to have all of them together or is that a pipe dream”? Contrary to what some ancient philosophers might have said, in this new age of the Internet it is indeed possible to live this dream and you will soon discover how easy it is to make your dreams come true!

Have you ever thought what you will do when you have lots of money and lots of free time at your disposal? Have you ever visualized a new, exciting lifestyle which gives you the freedom to live the life that you love and do all that you have ever wanted to do – be your own boss, live life on your own terms, travel around the world, buy a luxurious car, finance your college education, step into your own house, spend more quality time with your family and friends, take care of a loved one, take your family on a holiday, pursue your hobbies, devote yourself to a cause, or buy that expensive gift for someone special? What will you do when you have an abundance of money, time, freedom, and control over your life?

Hard work pays, but sometimes people who work too hard often have a hard time enjoying their health, life, and money. The …

Unsecured Personal Loan For Tenant – Borrow Funds Without Offering Assets

It is absolutely true that if you have an asset like home or a property, your chances of getting a good financial aid increases. But unfortunately, not every citizen is blessed with this kind of provision and hence, availing an immediate help of funds which can get quite troublesome for all such borrowers. However, our finance market is certainly not prepared to bear such a loop hole and for this reason only, the beneficial plan of unsecured personal loan for tenant has been introduced for the benefit of the populace. This loan is smartly customized with simple terms and conditions so that all those borrowers who have already faced a lot of problems in finding a good financial assistance can easily opt for this solution without any hassles. Here, if you are also stuck with a major economic problem of paying your huge medical bills or are compelled to bear the expense of an unavoidable business trip, then go for this loan facility and improve your economic status.

With unsecured personal loans for tenant, the absence of home or property is no more a hurdle in obtaining efficient financial services. Any interested applicator can easily apply for these loans without offering any sort of security against the loan demand. Moreover, as the loan amount you retrieve is completely free from the clutches of the borrower. Here, it may not be wrong to state that unsecured personal loan for tenant opens a wide area of ​​opportunities for you and let you have a convenient life that is totally free from the burden of economic problems.

Now when the very beneficial financial assistance of unsecured personal loan for tenant is broadly available in the finance market, all tenants and non homeowners can stay assured of receiving quick monetary help whenever they need. These loans are intelligently crafted to meet any sudden or unplanned expense as its approval procedure is much more fast and easy to execute than any other loan plan. All private deputies, council tenants, people living with their parents and friends are eligible for this loan plan. However, it is mandatory for all borrowers to fulfill certain eligibility criteria, which basically claims that an applicable should be above 18 years of age and must posses a regular source of income. In addition to this, the requirement of having an active bank account is also compulsory.

The entire range of unsecured personal loan for tenant [http://www.unsecuredloanfortenant.co.uk/unsecured-personal-loan-for-tenant.html] is also open for all bad credit borrowers. Here, if you have also maintained a bad credit history so far and now wondering for a decent financial help then immediately consider the option of this loan scheme. You simply have to contact an online lender or a good finance company that is offering this loan through online services. You can also get in touch with competent finance consultancies, which in turn will give you the list of most reliable lenders and suitable loan deals from the marketplace. Therefore, do not let any other financial need …

Converting Manual Bookkeeping to a Computerized System

If converting a manual bookkeeping system to a computerized system, the conversion will take a bit more time than just starting fresh because it needs to be sure the new system starts with information that matches the current books. The process for entering the initial data varies depending on the software chosen. To ensure that properly convert bookkeeping system, use the information that comes with the software; read through the manual, review the startup suggestions made to set up the system, and pick the methods that best match the style of operating.

The best time to convert is at the end of an accounting period. That way, don’t have to do a lot of extra work adding transactions that already occurred during a period. For example, if it decided to computerize the accounting system on March 15, it has to add all the transactions that occurred between March 1 and March 15 into the new system. It’s just easier to wait until April 1 to get started even if the software is bought on March 15. While converting to a computerized accounting system at the end of a month, the best time to do it is at the end of a calendar or fiscal year. Otherwise, we have to input data for all the months of the year that have passed.

Whenever you decide to start the computerized bookkeeping, use the data from the trial balance that used to close the books at the end of most recent accounting period. In the computerized system, enter the balances for each of the accounts in the trial balance. Asset, liability, and equity accounts should have carry-over balances, but Income and Expense accounts should have zero balances.

Of course, if starting a new business, it won’t have a previous trial balance. Then just enter any balances that might have in the cash accounts, any assets of the business may own as it starts up, and any liabilities that the business may already owe relating to startup expenses. Also add any contributions from owners that were made to get the business started in the Equity accounts.

After entering all the appropriate data, run a series of financial reports, such as an income statement and balance sheet, to be sure the data is entered and formatted the way liked. It’s a lot easier to change formatting when the system isn’t chock-full of data.

Need to be sure that entered the right numbers, so verify that the new accounting system’s financial reports match what was created manually. If the numbers are different, now’s the time to figure out why. Otherwise the reports done at the end of the accounting period will be wrong. If the numbers don’t match, don’t assume the only place an error could be is in the data entered. It may found that the error is in the reports developed manually. Of course, check the entries first, but if the income statement and balance sheet still don’t look right, double-check the trial balances …

Personal Loans 'Becoming More Expensive'

Consumers may find cheap UK loans are harder to come by, reports an industry expert.

Pointing towards research carried out by Moneyfacts, Michelle Slade, analyst for the personal finance publication, revealed that interest rates on unsecured personal loans have surged over the course of the last 12 months. It was claimed that loans are currently an average of 4.6 per cent more expensive than they were in the same month in 2007.

However, it is possible that those looking to take out loans of smaller amounts could be coming under more pressure. Moneyfacts revealed that in March of last year the cheapest rate available on a UK personal loan of 1,000 pounds stand at 14.4 per cent. In the space of 12 months, however, this has risen by 4.6 per cent to 18.9 per cent. Meanwhile, consumers borrowing 2,000 pounds will now pay an average of 17.9 per cent interest, up by 3.9 per cent from a year ago. Furthermore, it was indicated that the highest rate charged on loans of between 1,000 pounds and 2,999 pounds is at 27.9 per cent.

Ms Slade said: "Anyone looking to take out a loan in 2008 is going to find themselves faced with having to shell out more by way of monthly repayments than they would have done over the last couple of years. concentrating on getting money in the door and becoming more expensive and selective when lending money out. "

Loans for higher amounts were also shown to be more expensive, with the typical rate of interest on borrowing 20,000 pounds and 15,000 pounds going up by 1.2 and 1.3 per cent points respectively in the last 12 months. Such personal loans now attract interest of 8.1 and 8.2 per cent.

It was also disclosed that money lenders are continuously taking steps to tighten their borrowing criteria, with the vast majority (97 per cent) of loans on the market now having typical rates or a personal pricing policy. This, it was reported, will see people with "less than perfect" credit scores either refracted a loan or forced to borrow at a more expensive rate.

"With the effects of the credit crunch continuing to bite, it seems likely that rates for all types of borrowing will continue to increase," the Moneyfacts expert pointed out. However, she stated that secured loans may be incrementally taken out by homeowners to supplement their spending as the availability of 100 per cent loan-to-value mortgages diminishes and 125 per cent products are no longer accessible. After this, rates on UK secured loans have also been rising, with Picture Financial and Alliance & Leicester among those which have drawn such products in recent months.

As such, those looking to take out a cheap loan to help supplement their spending may be advised to act immediately. By selecting a loan it is possible that borrowers can meet numerous demands on their spending and be left with a single low-rate repayment to make. However before doing so, it is …

Business Analyst in Insurance Domain

The right balance of information and technical know how is needed for a Business Analyst to successfully complete his job in any sector. This dictum applies to the Insurance sector as well. A Business Analyst should be well versed with the information that is needed for any Insurance professional to work in the Insurance domain. Since he has to analyze the processes and then help in the development of essential software for the projects in the Insurance sector, he needs to have both – the information required of an Insurance professional and the technical knowledge required for the establishment of software designed for this sector.

Insurance as is known is generally divided into three major divisions: Life Insurance (dealing with safeguarding life and the risk of mortality and critical illnesses), General Insurance (dealing with the risk of damage to immovable property, motor, cargo, marine, household, and fire insurance), health insurance (dealing with risk of illness and disease, and thus covers reimbursements, medical claims, operation of panel doctors, cashless hospitalization, co payment etc.) The level of knowledge and range required is different in each stream and hence a Business Analyst has to have a certain demonstrable understanding of the workings of the particular streams in the sector and also desirably, adequate level of experience in the sector.

Functional Knowledge of Insurance applications is also essential, like new business, channel management, policy serving, claims management, underwriting, reinsurance and finance. Along with knowledge of the business processes of the particular client company, a brief and thorough understanding of the requirements given by the regulatory authority of the Insurance industry is also mandatory. The terminology is varied for the Insurance sector, with changes even within the sector, for the different streams of the sector. Knowledge of these unique terminologies will help the Business Analyst to understand the client who is the end user's expectations and he will be able to draft them better into requirements efficiently.

Once functional requirements are known, the technical knowhow is also essential for any good Business Analyst to communicate to his software developer's team about the client user's expectations from the project. The Business Analyst should be aware of the basic MS Office tools such as MS Word, MS PowerPoint, MS Excel, MS Access, and MS Project.) These help in collating data and presenting it in proper format. Then knowledge of relational databases is also important for understanding the technicalities of Querying and Support. Basic programming languages ​​that are used by software developers should also be known to the Business Analyst so that he can understand the developer's problems or point of view. These programming languages ​​could be ASP, Dot Net, JAVA, J2EE, XNL, HTML etc. In addition to these, knowledge and experience in insurance business applications, content management systems, portals, data warehousing tools can give any Business Analyst that extra edge over others standing next to him.

Thus, it's quite clear that a Business Analyst in the Insurance domain needs to know both sides of the coin – …

What Rich People Know and Desperately Want to Keep Secret

It is natural to hide one’s source of success. The tendency to make the source secret is even high(er) when it comes to money-making. That is why the rich would not like to disclose their financial-success secret. But the good news is that there is revelation of the whole secret in this text entitled “What Rich People Know and Desperately Want to Keep Secret”.

Brian Sher, the author of this text was born in South Africa, and moved to Australia in high school. Sher obtained a degree in Marketing from the University of New South Wales.

His subsequent business travels overseas aroused his interest in consultancy, and after spending two years in Los Angeles, he returned to Australia and formed his own company, specialising in marketing and business-growth strategies.

Working with businesses, one of his major clients offered to partner him in a new venture – Vision Publishing. Under Sher’s direction, Vision Publishing experienced phenomenal growth. His extensive network and strong reputation as one of Australia’s most-dynamic and exciting marketers made him an active and sought-after business coach.

According to the author, most people dream of being rich; they imagine what it would be like to have more money than they know what to do with. Sher adds that for a brief moment, they leave their reality by playing ‘make-believe’. He says for most people, this is as far as they will ever get with this dream, and they will quickly snap back to inaction, for fear of stretching their boundaries too far.

Sher submits that a relative few people set off on a different journey, a journey so challenging and demanding, yet so exciting that it brings new life and new meaning. He adds that in the end, unfortunately, many of these dreams are also shattered as a result of not knowing what rich people know.

This author thus shares with you in this book, the basic but powerful principles of success and takes you on a journey towards personal and financial riches. Sher reveals what the world’s richest people know that everyone else does not know, and offers you tips for enriching your life and enhancing your bottom line. According to him, businesses and people succeed because they do the basics well, and in most cases, not because of luck, clever finance, extreme technology, or running ahead of the pack.

This book has six parts of 44 chapters. Part one generically focuses on the basics of success, and contains four chapters. Chapter one is based on what riches are and what rich people do. Sher says almost everyone you meet wants to be rich momentarily. He educates that the truth, however, is that being truly rich in life is not just about having more money.

Sher expatiates that being truly rich in life means having many other things more important than money, such as more fulfilling and rewarding relationships, good friends, a satisfying career, etc.

On how the rich people make all their money, the author reveals that …

Secrets That You Should Know Before You Open A New Business From Home

Doing business is not every ones cup of tea. There are things you need to know before you open a new business from home. When things are done methodically then success is imminent. Well, mild hiccups are about to crop up and you can tide them over smoothly. Some things you need to know before you open a new business from home are:

* Select a product or niche you are comfortable with. This should have been your passion or profession.

* Learn thoroughly about the market before you open a new business from home. Once your buyer is ready then get in touch with your local administrators. You do not want to get into any legal issues right?

* If you are single and operating from your home then there is no permit required to open a new business from home. Still it is better to contact your local office for advice on permits and clearances. If you are starting a marketing business then your sales people may walk in and out of your concessions. Call your country's clerk office or local chamber of commerce to get information on the proper board or commission to contact for zoning laws.

* Contact your lender for any funds if need be to open your new business from home.

* Also know about federal tax laws to open a new business from home.

* If it is a product you are supplying then line up your suppliers and get them to make a commitment for purchase. Once that is done then getting finance is easy.

* If your business is ob web designing or Internet marketing then all you need to do is make an attractive website with search engine optimization. This will enable your website to appear on the first page on major search engines. Moreover you can also earn through Goggle pay per click program and Goggle AdSense.

* When you open your new business from home you can opt to use your social security number as the federal ID number for your business. However, if you want to present a more professional image, you can get a separate employer identification number (even if you do not have employees). You will need to file Form SS-4 with the Internal Revenue Service.

* If you wish to sell on E-bay or Craig's List your stuff get sold very easily and you can earn a cool amount of minimum $ 15,000 every once in a while just by selling your used stuff. Craig List is very efficient and things get sold like hot cakes out there. Go check it for yourself. …

Home Loans in the UK

Owning a home is the most important dream of any person. It is one of the basic necessities of life as stated by Maslow in his 'Theory of Hierarchy of Needs'. People generally desire to have a home which not only gives them shelter, but also should be the expression of their artistic tastes, and an object of pride. Owning a home is a matter of spending of life's savings. For some- related to the high e-learning group, it is not a problem; but for others arranging financing for their dream home is a very critical decision, they ever take in their life. To enable people to realize there dream, financial institutions and banks offer home loans to people.

Home loans play a very important role in the lives of UK nationals. Every year there are borrowings worth billions of pounds by the UK nationals for home loans. Now days, home loans have become a necessary part of life as it is not essential that one has the necessary amount of money to finance his immediate requirement for purchasing home. One can avail home loans, after signing a document with a financial institution on a specified amount of money to go with the purchase with that borrowed money. Lenders and financial institutions keep the house or any other residential property as collateral. In the UK, home loans are offered by innumerable financial institutions at various APR. The amount of loan approved usually depends on the income and assets of the borrower and his capacity to pay back the loan.

In the UK, home loans offered are of two types:

Fixed rate home loan

Variable rate home loan

Fixed rate home loans are offered to borrowers at a prefixed rate of interest for a specified time period. In case of upward fluctuations in interest rates in the market, customers enjoy the benefit of not paying any extra sum money on the increased rate of interest. Variable rate home loans, on the other hand are left to the mercy of lenders and government regulations. In case of upward trend, the borrowers have to tighten their budget.

With the ever increasing competition in the market, more and more financial institutions are offering home loans at lower APR along with customer oriented services. All companies claim to be the leading loan and other financial services provider with the best service. In order to tap the growing market companies and lending institutions are coming up with more innovative products to cater to the requirements of all the customers. With the advent of internet, the services offered have become more fast and efficient. Now one can compare the best rate offered in the market at the click of the mouse.

The complications in home owner loans fall when borrower defaults in the payment of the monthly installment. In many cases, it has been seen that lenders start charging more interest rate than the standard rate. Wise borrowers, in such situation, switch over to a new lender …

Using Google Docs to Create a Personal Finance Budget

Having a personal finance budget is essential- there’s no question about that. You need it. If you haven’t got

one, create one today; there’s no time to waste. Many of us do have a budget we use regularly. Some use programs like Quicken or MS Money; others use online programs like Mvelopes, Mint, or YNAB. The downside is that many of these programs offer too much and take the simplicity out of budgeting, not to mention the fact that they often cost money.

Why Using Google Docs Is Your Best Option

Google spreadsheets can give you the simplicity, customization, and affordability that you’re looking for in your budget. Following are a list of reasons why Google docs is your best option:

1. Customizable: Your budget can be as complex or as simple as you’d like. Knowing just a couple of simple formulas can help you create a system that is just as helpful as any top-notch program on the market. You can format the look how you want it- colors, sizes, structure, and format. Because all of us have different tastes, this is one of the best features that Google Docs offers.

2. Simple: Have you ever used budgeting software and couldn’t figure out how to do the simplest things? You’re excited after reading the back of the box when purchasing the software, but as soon you get home and get it installed on your computer, you can’t figure out how to use it. You can make your spreadsheet with Google Docs simple and easy to use.

3. Access From Anywhere: If you go on vacation and don’t bring your laptop, you can’t keep up on your budget. And that can be a huge problem, because receipts get lost, spending gets forgotten about, and subsequently budgets become inaccurate and useless. Google Docs is hosted on Google’s servers; therefore, you can access it from anywhere!…