Home > Author Archives: Glasses or Contacts (page 2)

Author Archives: Glasses or Contacts

How Much Do You Know About Life Insurance Policies?

Earning, saving, and investing your money is an ongoing process that you engage in every day to build your financial security. But have you also taken steps to protect the legacy you are leaving behind? When a tragedy occurs, your family would be hit with massive expenses and the loss of your income right when they are emotionally at their weakest and most vulnerable. What will happen to your carefully constructed financial plan if you don’t have life insurance? Most financially savvy people know they need life insurance, and they know that procrastinating on this decision could put their loved ones in a devastating situation. But people still put off buying insurance often because they don’t feel confident in their knowledge of the products, and that lack of knowledge makes them feel uncomfortable with the process. If this situation is the case for you, take the time now to learn more about life insurance. You’ll feel much more in control during the buying process if you are better informed. Start by understanding the difference between term and whole life policies. Term insurance is less expensive, and you can cancel at any time, but when you cancel, you’ll have no cash ...

Read More »

How to Bootstrap Your First Business

Bootstrapping is an increasingly common way of running a business. It’s about starting your first business without the traditional war chest your parents would have had. But there are a few rules to bootstrapping your first business that you have to follow if you’re going to make a success of this. Don’t Bootstrap What You Don’t Know When you don’t know what you’re doing you can employ an expert to fill in the gaps. When you’re bootstrapping you don’t have this luxury so you need to understand your niche. Stick to an area you know so you can barter services and do much of the work yourself. This will limit the amount you have to spend. Make Your Team Work for Equity You don’t have the cash to employ anyone so you need to use something else to attract people to your cause. The way to bootstrap a business is to offer equity instead of cash. It means that you have to sacrifice a portion of your company and its profits, but if it fails you know you haven’t invested a lot of money for no good reason. It works both ways. And it also makes your team feel like ...

Read More »

Dealing with the Student Life – How to Save Money

When you are a student, you are often going to find yourself struggling with financial problems, but if you are very careful with the way you are managing your budget, you can easily make it through each month without any other debts rather than your student loan and a responsible financial behaviour. What should you do in order to ensure that at the end of the month you will be able to afford whatever you need? Saving some money for a night out with your friends suddenly becomes a little bit complicated when you don’t know how to deal with being independent. Be careful with monthly spending and keep a clear record on what you are spending money on and it should be fine. Here are some more tips to help you save money while being a student: Step one: the student loan Dealing with the student loan is one of the things that will stop you from saving money. This is the reason why it is recommended to learn more about bill consolidation and other financial services that could help you handle your money. When you need to handle all the taxes, loans and debts all by yourself you ...

Read More »

4 Ways to Improve Business Cash Flow

Cash flow is the money moving in and out of your business over the course of a month. It flows in when customers buy your products or hire your services, and it flows out when you pay business expenses, like covering rent and utilities, compensating employees, or paying taxes. When you first start a business, it’s initially difficult to get it off the ground because cash outflow from overheads usually exceeds cash inflow from sales. Consequently, your business will need some working capital from a business loan or a line of credit to cover any shortfalls. However, once you’ve acquired a certain number of customers, you’ll no longer have to endure a modest sales volume. At that point, once you’ve tipped the scale and earn more than you spend, it’s essential to consistently work on improving your available cash flow. Why Cash Flow Matters When businesses fail, it’s often because of negative cash flow. With inadequate cash reserves, it’s impossible to cover operating expenses. Collapse is inevitable when you run out of money. In credit-based businesses, negative cash flow can place a business at a disadvantage as soon as they launch. In the freight trucking business, for example, customers usually ...

Read More »

Planning for a Successful Retirement

Planning for retirement is something that should begin before one is even out of college, but that isn’t what usually happens. Don’t worry, no matter where you are in your career it is never too late to plan a successful retirement or even learn how to retire early. Assessment The first step in planning for a successful retirement is assessing where you are financially. Take stock of your existing income, debt, savings, investments, and assets. Include all debt, even if you think some of it won’t be relevant during your retirement. If you have student loans, credit card debt, or a mortgage, these need to be factored in. Not just because they could eventually take part of your budget when you retire but also because they limit the amount of money you have available to invest in your retirement. Savings, investments, and assets are pretty straightforward for most people but also include things like life insurance policies in this category. Depending on the type of policy you have, it may be accruing cash value that could be more wisely invested in a different financial product. Debt One of the most important things you can do before you reach retirement is ...

Read More »