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Author Archives: Glasses or Contacts

The Pro’s and Con’s of Using Your Credit Card for Major Purchase

No matter how sincere you are about cutting your budget, no matter how frugal you become, there will come a time when you have to make a major purchase using money that you don’t have. There is no avoiding it in this current age of financing. We don’t live in a gold-based economy. We live in a credit-based economy. At some point, your good credit will be the difference between failure and success. There are some things you should never be a cheapskate about. Your attempts to save money on things like shoes, mattresses, and technology too often end up being penny wise and pound foolish. As distasteful as you might find the prospect, you are going to have to use a credit card for something, somewhere down the line. Still, there is no denying the downside to credit cards. Here are a few of those pros and cons of using credit cards for major purchases: Con – Interest In almost every situation, borrowing money means paying it back with interest. The typical way to make money by loaning money is to require the borrower to pay back more than they borrowed. If it is a low-risk loan, the interest ...

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Stay On Top of Company Payroll

Your company payroll is most likely the most expensive expenditure your business runs into. Without quality workers, you are not able to thrive, but you also need to keep this cost point in check. You know what hours you need filled, so you do your best to make sure the shifts are covered. However, this doesn’t mean you are not going to run into potential problems along the line. By monitoring your payroll, not just on a bi-weekly or weekly basis but on a real time basis, you are able to avoid expensive problems. With the money you save, you can reinvest it back into the company and help grow the bottom line. Financial Problems without Real Time Payroll Monitoring There are a few different issues you may run into and not even realize it until too late. If you pay hourly employees, you schedule everyone so they receive the desired number of hours they want. You also probably make sure to keep these individuals from hitting the overtime mark. Paying employees time and a half is an expensive additive to your bottomline and, should this happen on a regular basis, can prove costly. While overtime on occasion isn’t avoidable, ...

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Excessive Debt Hurts More Than Your Wallet

We all have good intentions when we open up our first lines of credit or take out those student loans. We’re sure that we will never become one of those people–the people who find themselves mired in five figures worth of debt and only a middling income with which to make ends meet. Unfortunately, what most of us don’t realize is that this type of debt rarely happens quickly. Instead it builds slowly over time–a missed payment here or there, a medical emergency, etc. Finding oneself in extreme debt is uncomfortably common in today’s “buy now, pay later” culture. We are all sure that we will earn more money in the future to pay off whatever it is we’re impulse buying now. For most of us, though, all that happens is that we build up a mountain of debt. A mountain that we can do little more than chip away at a tiny bit at a time. Good Debt Vs. Bad Debt Of course, not all mountainous debts are bad. A mortgage, for example (if you pay your bills on time every month) is considered good debt because it builds equity. A car loan is a less expensive example of ...

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The Pros and Cons of Taking out a Business Line of Credit for Your Small Business

If your business is just getting off the ground or needs a little help handling expenses, a business line of credit might be an appealing financial option. Business lines of credit work similarly to personal credit cards: a lender gives your business a maximum monthly limit and you can draw funds from that amount to pay your expenses. Of course, your company will be expected to pay off this credit debt or pay fees or interest on the loan. The question is, would establishing a business line of credit be the right choice for your business? Consider these pros and cons to determine the best course of action for your company. Pro: Flexibility. Perhaps the clearest advantage of using a business line of credit is that it offers spending flexibility for your business—and in several different ways. First of all, when you can pay expenses with your line of credit, you can cover payments even when you don’t have cash immediately on hand. Secondly, a business line of credit essentially acts as a bank loan where you have access to a large loan amount but don’t necessarily have to spend all of it. Instead, you can just draw money from ...

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A Compressed History of USD Against Gold in the Last 10 Years

The United States Dollar (USD) and gold have been in a close relationship for more than 200 years. The first 100+ years of that relationship was harmonious because the gold standard was in operation and the value of a unit of the dollar was related to a specific amount of gold. In fact, the greenback up until 1933 had the words “Will Pay to the Bearer on Demand” (gold) and some new notes even had the clause up until 1963. From much of 1900 to 1971, people could technically approach a bank in the U.S. to convert their dollars into gold. However, starting from 1971, the USD and gold started a contrastive relationship after the harmonious relationship ended with dissolution of the gold standard. The USD became a fiat currency that was not backed by a physical commodity. More so, its value could be based on the laws of supply and demand. Gold was also forced to adopt floating exchange rates because the fluctuations in the value of the USD often cause the trading price of gold to fluctuate. An inverse relationship begins between gold and USD The USD and gold now operates an inverse relationship in which gains in ...

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