10 New Business Mistakes that Can Get You Into Trouble
Thinking of starting your own business? Are you self-motivated in such a way that you’ll put in the long hours necessary to succeed? If so, you may have what it takes to prevent new business mistakes from becoming a bad habit.
Unfortunately, some individuals have the misconception that becoming financially independent can be accomplished in a short period of time. Well, I suppose its possible, but for most, they quickly learn the business facts of life.
Operating your own business can be very rewarding such as being your own boss, but there are a number of things that you have to comply with if you want to stay in business. The primary one is paying the various taxesthat are required.
This is one area where a new business owner needs to consult an experienced, qualified accountant before setting up a business entity. A lot depends on the type of business and how to structure it so that overall taxes can be minimized.
In my state, a few years ago, the LLC designation was added to the state level types of organizations. Practically every new View full post…
Each month, when all of those dreaded statements come in for your charges to those plastic cards in your wallet, your card issuer usually lets you know that you don’t need to payoff the balance. “Just pay this minimum payment”, they tell you, and before you know it, you have a high outstanding balance. Now you begin to wonder how to get rid of credit card debt.
Unfortunately, now it’s not so easy. For some individuals, there may have been a good reason why they only paid the minimum payment each month. Problems such as unforeseen medical cost, or the family car passed away, or even loss of a job.
But for many others, it was just poor cash management. They didn’t have View full post…
Does Having Bad Credit Mean You Can’t Refinance Your Mortgage?
There are a few programs available, such as the Federal Housing Authority (FHA) and the Home Affordable Refinance Program (HARP) that have options for individuals with bad credit. These programs are not based on your credit score, and they don’t even require a credit check.
Another organization, the U.S Department of Veterans Affairs (VA), offers mortgage refinancing to individuals who have bad credit. These are done through various lenders who determine their own requirements, and will vary by the lender.
Some of the statistics from August 2017 bear this out. Ellie Mae View full post…
Posted: October 20, 2017 Under: Mortgages By: Gust Lenglet
Most of us have asked ourselves that question on numerous occasions, sometimes in disbelief. We never dreamed that it would be possible, until we look at our credit card balances that have been slowly increasing. Would living on a budget prevent that?
Usually, overspending is not a conscious effort. It could start with something as simple as meeting friends on the way to work for a latte. Your cash is spent so you just charge the drink, no big deal.
A couple of times during the week, the same friends suggest that you have dinner with them. You are shocked when the credit card bill arrives and you add up those unplanned charges that total $320.00.
You didn’t realize how easy it was to overspend without being aware of it. Now how do you tell your friends that you can’t View full post…
Posted: August 11, 2017 Under: Budgeting By: Gust Lenglet
3 Reasons Why You Should Be Using Money Management Software
We’ve found that many individuals have financial problems due to a lack of understanding in the best way to manage their money. Quite often, they make mistakes that prove to be quite costly, especially when it involves an increase in debt. Money management software can be a big help in many cases.
There are several reasons that these individuals get into financial distress.
Some don’t know how to control their spending due to credit card mis-use. They see items they want and charge it to a credit card. Before too long, the credit cards are maxed out and just paying the minimum balance is very difficult.
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