Everyone loves a nice relaxing vacation. Yet, there is nothing worse then coming back home and realizing you have way overspent. Keeping a tight control on your spending during vacation is imperative to getting more out of it. Pretending to not have to worry about money when you are on vacation is just not smart. It will only lead to problems and head aches if you are not completely in control of your money while on vacation.
A vacation by pure definition is supposed to be carefree however if you are not correctly managing your money while on vacation it wont be too relaxing. Worrying about what you can or can not to, or even if you can afford a vacation is stressful. So, the best way to avoid this is by ahead of time putting a plan into action to manage your vacation money.
Keeping control of your money is important so you can make sure everything you want to do while there will be possible. If for instance you overspend the first day you are on vacation then by the last day of vacation you might not have the extra money available for that neat activity your family wants to do.
Once you have come and gone from vacation you really see how important money control is. If you use a credit card on vacation and are not careful as to what you are charging this can lead to some serious problems. If you are unaware as to what you are spending you might end up with a massive bill you can not pay. It might come down to having to sacrifice your next year’s vacation to pay for this year if you are not careful.
Vacations can be wonderful however, if you have no money control while on it, then it can be way more trouble then its worth. If having a peaceful restful vacation is important to you, so should money control while you are enjoying it.
When it comes to who should control the finances for a wedding, it may all come down to who is paying for the wedding to make that decision. One of the biggest decisions about weddings is money. Defining who is going to control the finances is an important decision to make before too much planning is done.
If a couple chooses to have their parents pay for the wedding, they need to be aware that the parents will ultimately be the ones controlling the costs of the wedding. If parents pay for the wedding, remember that all decisions may include them such as what kind of food and drink will be served at the wedding or what type of entertainment they will have and how much they will spend for it and even the location of the wedding may come into play. Parents who have the money to pay for the wedding may want to take over and control the wedding and its costs as well.
The bride and groom may have to try to reach an agreement with their parents to have some level of control, but they may have to do a lot of talking to accomplish that control. If they have parents that want to control everything, they may need to consider paying for the wedding themselves as a couple. This way the control of costs and the wedding is in the couple’s hands and no one else’s.
The wedding should be what the bride and groom want that expresses who they are, not the parents. If it’s a relaxed wedding they want, they should have that. If it’s a grand event they way, they should have that. Bending to please the parents if they have control of the finances is not a good idea.
Compromising is going to be critical here. Unless the bride and groom are going to be satisfied with handling all the financial control of their wedding to the parents, then they should not let their parents pay for the wedding. Maybe the couple can offer to let the parents only pay for a portion of the wedding that they can have control over such as the rehearsal dinner or the flowers.
Remember that who pays for the wedding should be controlling the financial costs. If a couple is looking forward to doing things their way and having the wedding of their dreams, they may want to pay for it so they have all the control. If not, they need to be prepared to let the payee have control.
With the social networking craze continuing to rise on the internet, business owners are quickly learning that the collective voice harnessed by such sites can easily change their financial outcomes. Millions of registered users effectively network every day on various websites, but moods and feelings are not the only things being shared. The ease of information sharing that has now been made available between people is giving a whole new meaning to the term ‘word of mouth’.
You can bet if a person has used a business’s service or purchased their product there will be something said about it on a social networking site. Whether that word is a positive or a negative one can impact the financial market dramatically and suddenly. Having the potential to reach thousands of people within seconds means that customer opinions are contributing to the financial market more than ever. No longer is the public’s general opinion based upon advertisements and personal experience alone- now with just a click of the button there are countless reviews, thoughts, and opinions about any given item available to weigh in on whether someone will become a new customer or not.
What does this mean for investors and businesses? It could very well encourage and promote honesty and sincerity in the way popular new items are marketed and manufactured, with companies quickly facing the wrath of unhappy customers spreading the word if their product fails to meet expectations. For investors it also means a bad decision will be felt almost immediately, but a good one may steadily grow. However, with the lightning fast speeds that information can travel through social sites, it also means that trend spikes are becoming an almost daily occurrence. Today’s hottest item may be tomorrow’s trash- simply depending on who is saying they love it, and who is saying they hate it. This makes for an often uncertain future for many businesses, especially those marketing new products incorporating technology.
The bottom line is that social networking sites, originally created to bring people across the world together, may now be one of the biggest marketing tools and financial predictors available today. It has been said that word of mouth is the best advertiser, and this is exactly case in point on a drastically larger scale than ever before imagined in the modern marketplace. More powerful than billion dollar ad schemes, these websites are helping everyday people shape the financial trends of tomorrow.
In the days of yore, getting a bank loan was much simpler than it is today. It consisted of nothing more than stopping by your local bank branch and asking for money. Today, however, getting a bank loan is much more complicated. In order to get a loan, you’ll need to know what to expect and what is expected of you.
1. Understand Your Finances
Add up all of your monthly income. This includes any wages, child support, alimony, disability benefits, and any other income that you and any other adult in your household has. Then, add up all of your expenses, such as your rent or mortgage payments, utility payments, car loan payments, food expenses, and any other expense your household may have. This will give you a good idea of how much of a loan payment you can afford each month.
2. Know Your Credit
Since your credit history and credit score are some of the most important aspects of getting a bank loan, you should know where you stand before visiting any lenders. There are a number of websites that enable you to gain access to your credit history and credit score. Some of these websites may charge you a nominal fee, but keep in mind that you are entitled to one free credit report each year through AnnualCreditReport.com.
If there are any negative marks on your credit report, such as missed or late payments, contact the creditor, and try to correct the problem. The better your credit score and credit history, the more likely you will qualify for a loan. Also, you’ll be more likely to qualify for a more favorable interest rate.
3. Meet With a Lender
Generally, you should first meet with a representative at your local bank when trying to get a loan. Your own bank will already have a good idea of your finances and how much of a loan you can afford. They might also be more likely to offer you more favorable loan terms as well/ If your current bank turns you down for a loan or you believe you can get more favorable loan terms elsewhere, shop around. There are a number of different lenders out there.
4. Consider Collateral
Offering collateral against a loan may help lenders feel more comfortable offering you a bank loan, especially if you’re trying for your first loan or if you have less than stellar credit. Also, offering collateral can also help you secure a lower interest rate.
5. Complete the Loan Application
Complete every section of the loan application truthfully and completely. Don’t forget to include copies of any necessary supporting documentation, such as pay stubs or other loan payment plans. Incomplete sections on a loan application or missing supporting documentation will almost always cause the loan application process to be denied.
6. Understand Your Loan Terms
If your loan application is accepted, be sure you understand all terms of the loan. Make sure you understand exactly how much you will be paying each month, for instance, as well as any fees and penalties that you might be subject to.
Although it may seem intimidating, getting a bank loan is not always a very difficult process. If you are denied for a loan because of your bad credit or lack of credit, take some time to build up your credit, and try again.
Stocks are still the backbone of many pensions, 401K’s, and personal investment portfolios. Stocks are a way for an individual to invest in a company, or companies (mutual fund), and not have to own the company directly. Stocks have other advantages we will look at which still makes them a great investment.
Certain stocks still offer tax incentives for investors, these are generally stocks that pay dividends. Since these tax breaks are subject to change due to tax laws it makes it hard to nail down the exact benefit each investor would have. Plus, each investor has their own financial situation, but generally speaking dividends classified as “long term” would be given a tax break and not taxed as ordinary income.
You Don’t Need a Lot of Money to Start
If you wanted to invest in a franchise, lets say McDonald’s, you would need hundreds of thousands of dollars to start. Stocks allow you to participate in a companies growth with little investment. You can also diversify and buy a little piece of different companies or you can buy into a mutual fund.
Mutual funds are investment vehicles where a professional manager picks stocks for the fund based on the funds objective. You as an investor can buy into the fund, this way you have diversity and the backing of a professional money manager. Many people find this alternative a great way to be invested in the stock market, but without a lot of the headaches associated with picking stocks.
Better Returns Compared to the Bank
Stock historically have had better returns overall compared to parking your money in a bank. Every investment is subject to economic cycles, but when we talk about investments we must look at the investment with a time frame in mind. Stocks historically return between 6 to 9 percent on average. If you are a more aggressive investor this average goes up.
Investing in individual stocks has always been the foundation for the stock market. Over the years wall street has created a slew of new investment options, many which the average investor can participate in. The thing that makes stocks a great investment is options. If you have a low risk tolerance, then there are stocks you can buy to fit your style. If you are aiming for investments that offer a higher risk, then there are plenty of stocks to choose from. This is the beauty of stocks, you have quite a few options to choose from.
If you are looking for one promise that is guaranteed in life, then you do not have to look very far to find one. The one promise that you are guaranteed in life is death. Even the great financial moguls are unable to escape the clutches of death. Unfortunately, sooner or later death is something that is going to take us all. Including the great financial moguls of the world.
Here are the deaths of some of the great financial moguls:
Steve Jobs was an incredible man who had a passion for technology. He was incredibly influential with how he ran his business and even became incredibly powerful. During his time here on earth, Steve Jobs had amassed over $6 billion. He was even named one of the world’s greatest entrepreneurs.
Steve Jobs had a dedication and passion to his craft that was incredibly difficult to match. One of the things that made Apple an incredibly unique and amazing company was the fact that they offered simplicity. Steve Jobs was a man who believed in the importance of simplicity, and this was one of the things that led him to great financial wealth.
Unfortunately, Steve Jobs died from pancreatic cancer on October 5th, 2011. He had respiratory failure and died with his family at his side.
The legendary film maker Walt Disney died at age 65. Nowadays, the Disney fortune is said to be over $30 billion. During his time on earth, Walt was a man who would not take no for an answer. He is famous for being given many rejections before he finally succeeded with his famous children’s cartoons.
Walt Disney also has his own theme park called Walt Disney World which is purported to be named as an honor of his brother who died. Disney was a man who made children’s classics that will be remembered forever. They are masterpieces that every person who has been a kid has loved. Walt Disney was a smoker of cigarettes throughout his entire life.
Towards the end of his life, the doctors found a tumor in his left lung. By this time it had spread and he had to have his left lung removed. Disney died December 15, 1966.
These were some of the great financial moguls who had died. Even rich people are going to meet their ends. No matter how great a contribution you have made to society, it is important to understand that death does not discriminate.
Tax time can be a stressful time in the lives of small business owners and individuals alike. While the stress from managing your own taxes can get hard to handle, the cost of hiring someone to do it for you can be even more dreadful. There are many different ways to make sure that your tax season is a little more manageable and smooth.
If you’re running a small business, consider employing a bookkeeper. A bookkeeper can not only help with the everyday task of file maintenance and documenting, but they can also help manage your finances and aid in your budgeting, cash flow, and tax management. Having a bookkeeper on staff is not going to cost you as much as an accountant and they will handle other jobs that can take up your valuable time.
Don’t Get Behind
It’s important to stay up to date on your bank account statements and accounting software. If you make an effort to maintain your books so that they are current and accurate, when tax time comes, you won’t have so much work to do.
Keep it Separate
Don’t mix business and personal expenses. Your business expenses and accounts should always remain separate from your personal finances. Mixing these two can cause a lot of confusion at tax time.
You never know what may happen from day to day. Make sure you back up all your files so that if something does happen, you aren’t stranded with nothing to go by. Always back up your computer files each time you update and make copies.
If you don’t create a routine for handling your accounting, it will always get pushed to the back burner. This will cause you to fall behind on updating and organizing, causing tax time to be much more stressful. Set aside 30 minutes or so every day or every week to handle these tasks. Taking the time to do this will save you time and stress in the long run.
Tax time doesn’t have to be a flurry of paper and red tape. If you follow these tips and stay organized throughout the year, you will find that it will be much easier to get things together when the time actually comes to file. Not only will this relieve some of the stress associated with throwing it all together at the last minute, but it will also lessen the chances of making a mistake.