Your Business - Who Are You?

A business is more than the sum of its parts and a set of processes. Rather a good business should have a mission statement, a personality, vision, drive and responsibility. You should be looking to bring value to an area, to improve the world and you should feel passionately about all that. If you do, then you will have a much better time getting other people to feel passionately about what you do as well and as a result your business will be far more likely to soar.

Whatever your business does, it should be aiming to improve the world in some small way. If you are in logistics then you will be making it easier for people to get things to where they need to be. If you are a green grocers then you should be contributing your delicious fruits and vegetables and you should care about quality, taste and value.

If you see your businesses cynically, then you will find it doesn't stand out among the crowd, and that your message is mixed and confusing. At the same time you'll find that you never grow and develop in any exciting way and rather continue to chug along. You won't innovate and eventually you'll die out.

So think then, when you are asked what your business does - how are you going to answer? Don't just describe how you make money, but rather think what is at the core of your business? What is important to your organization? And what sets you apart from all the others?

Everything You Wanted to Know About Credit Cards

Today, credit cards are the most popular things owned by an individual. A credit card would basically allow the holder to purchase products and services without paying up any cash.

Not all can buy everything that they need or desire. This is where credit cards come to our rescue. As the name suggests, the purchase is on a credit basis. This is basically an agreement between the bank or the card issuing company and the user. This agreement gives you access to instant money that you can use up immediately. The repayment terms such as the interest and the set up charges differ from one bank to another. Hence, you will need to check these up before you accept a credit card from any of the lending organizations.

There are a number of benefits associated with such cards. One of the main advantages is that a credit card offers convenience and flexibility. You won't have to carry hard cash every time you shop. You can simply swipe your card and the payment will be made instantly.

There are a couple of points that you need to bear in mind before you get yourself, a credit card. Firstly, these cards can be used for purchasing just about any commodity - be it apparels, furniture or even an expensive item such as jewelry. Secondly, you will always need to check the monthly statements provided by your lender. This offers a great overview of your expenditure. Once you understand this, you can actually save money the next time you go shopping.

Want to Apply for a Credit Card? Check a Few Facts

The introduction of credit cards and the secret of rising demands for possessing them, reside solely into satisfying the will of humans to buy anything anytime.

Why go for?

The credit card society has been the foundation of "buy now, pay later" social system that has its own pros and cons. We would not delve ourselves into them though. With the possession of a credit card you no longer have to bother yourself with the hassle of cutting short your shopping adventure. You are entitled to making purchases with almost anything you wish to desire while you are travelling. It also helps you out perfectly well under emergency situations. These advantages entice a lot of people and have helped in making a fairly large number of people turn to using credit-cards.

You can always apply for a credit card in-person, but with the advent of the internet age, nowadays applying on online is well-possible. Few things that you need to check before applying for a card online:

1) The ability to compare is a big key in your hand. So take proper advantage to ensure doing your worthy diligence.

2) Make sure about the information available to prevent a time-out of your application while you are at the middle of applying online. Some employment proof, some identification, income information and a record of your residence.

Excellent Suggestion That Can Spur Your Investment Services Business Growth

By Aaron Slot

There is no way you can run a successful investment consulting business without giving it your full effort. You started your investment consulting company because you wanted to make money doing something you loved, but without determination and drive, your business will not be able to succeed. Here are some ways for you to maintain your perseverance so your company can expand and make a profit.

The website for your investment consulting company needs to look professional and eye-catching. Lots of colors and a polished look are much more appealing to customers than a plain or shoddy website.

Accountability is very important in investment consulting business. That is why it is a good idea to have specific people assigned to specific tasks so that you always know who is doing what. If something happens, you will know who is responsible.

When it comes recruiting staff members, you should prefer to choose individuals, rather than investment firms. Going with the individual services can offer a personalized touch to your investment consulting company, helping you succeed the desired investment consulting business goals with ease.

To make your investment consulting business one that is a great success, you have to have a strategic business plan in place. This will allow things to be more stable even during the hard times. During the good times you can be pleased with yourself that you thought ahead in the first place.

Methods To Develop And Manage An Investment Services Business Empire

By Aaron Slot

If you invest some time and money into establishing a lucrative investment consulting business of your own, you will be able to make some extra funds while taking enjoyment from your work. There are many important things to consider before you begin, but so long as you have a well-done outline for your business and plans to grow, you will be the proud owner of a profitable business before long. Read these pointers and guidelines below and watch your business blossom.

While hiring new members of your staff, see that they are fitting into the work culture of your investment firm. Their skill sets and their years of experience can't really reflect their entire capability and so don't go by the book and hire only those who have worked in corporate environment. Try out fresh young capable people ready to mould themselves to your investment consulting company's needs.

You've all seen those 'Letters to the Editor" in your local paper. A simple and effective method to expanding your investment consulting business and building brand exposure is to respond! It's free, it's easy and it's efficient. You've just reached the entire subscription base to your local paper.

You have to go with a prudent approach in connection to running your investment consulting business. You must have ample cash resources to help you in any difficult condition. You can end up getting a rough deal from a few consumers, so you have to have cash with you all the time.

Accepting Credit Cards: Merchant Status For Your BusinesS

A lot of people nowadays, prefer the convenience of purchasing through credit cards. In the United States, nearly 1 in every 3 consumer purchases are paid through credit. It is crucial therefore for companies to readily accept credit payments to avoid losing sales. 

No matter what type of dealing you run, whether it is a small shop, online store or mail order business, having a credit card service for customers will surely come in handy towards your business’ growth. However, one cannot just accept credit card payments in an instant. In fact, one has to apply to a number of banks for a merchant status to be able to do this. But once your merchant status is established, then your business will be good to go.

How Does Merchant Status Work?

Your company must first partner with one or a few banks to be able to accept credit payments. Before doing so, you must apply to these banks to achieve the merchant status. These banks will work with you to transfer money paid through credit by customers within a day or two of the sale. They will also be responsible for collecting the money from the customer, and in return, your company will pay them a usual commission, ranging from 1.5 percent to 5 percent for each transaction. Other fees may include monthly support and equipment rentals.

Discover The Best Way To Use Some Money Management Strategies

By Kolby Brient

With the state of the economy it is important to understand some money management methods and why cashflow management is important for investment trend following. In order to be able to sustain monetary stability you have to understand this is depth. Even just one mistake can lead you astray, so utilise these suggestions to your advantage.

The very first thing you'll want to do is always make sure to pay yourself, regardless of if it is 20 bucks a week, it can allow you save for something you need to get yourself. This is often a step that gets missed, typically thanks to the fact that most individuals have get comfortable with living week to week with their pay checks, nevertheless it is extraordinarily crucial. You must set up a goal to hit, and stick to it. The next aspect you have got to pay attention to is your credit report.

The few numbers that involve your credit history are really imperative, particularly in the present day's economic crisis. So as to get a good job, a house, or a good rate on insurance, you have to have a respectable credit score. A credit history defines what type of person you are to owners and other companies. You'll be wanting to keep your credit history between 650 and 700. That may show you're a responsible person who can keep up with payments and that knows how to utilise your money wisely.

What Is a Credit Card Statement?

A credit card statement is the piece of paper you receive after a credit billing cycle has lapsed. It is often sent once a month and contains a run-down of the purchases you have made with your card within a particular billing cycle. Apart from the purchases, it may also contain other items, such as the amount that you need to pay, interests incurred, cash advances made, previous balances, previous payments made and so on.

Understanding Your Credit Statement

It is your responsibility as a card holder to know and comprehend everything that is written on your credit statement. The billing report can vary from one company to another, but the same terms are often used. Below are some of the important elements that you should understand in your monthly billing statement:

• New charges - Also written as "purchases," by some issuers, the New Charges section of the statement contains information about the purchases you have made within a particular cycle. It is here where you will find your total payables for the particular month.
• Account summary - This includes your account number, your total credit limit, and your available credit limit. This is also where you can find the statement date in which the bill has been issued.
• Payment summary - This part contains information about the required minimum payment that you need to make if you cannot pay the full amount of your used credit. You can also find here the previous payment you have made as well as your due date of repayment for that particular cycle.

The Best Chase Credit Card For Every Pocket and Lifestyle

Modern life has a dependence on credit cards that makes it practically impossible to turn our backs on those small cards of plastic. Between buying at bargain prices and booking flights over the Internet, it has become a necessity. The challenge is selecting the right card for your needs, but when looking for the very best, Chase credit cards are the superior option.

Chase Bank has the widest variety of credit cards, with almost as many packages to suit the specific needs of every walk of life and every pocket. The card deals also offer some very low interest rates, helping to keep their customers as wide of financial trouble as possible.

But finding the right Chase credit card is made easier by the category system they use, with just 3 key demographics served: general consumer, students and retirees. Each category has a range of cards that can fit any specific situation.

1. Cards for General Consumers

The best Chase credit cards for general consumers are those that give affordable access to products and services. There are 3 key cards to choose from: the Freedom Card, the Platinum Card and the Sapphire Card. These cards are available to consumers on the basis of their income and previous history.

As with most banks and financial institutions, first-time applicants are granted only a small credit limit, since their spending pattern is not yet known. A low interest rate is always preferred, and with the Freedom Card cardholders can avail of an introductory offer of 0% APR and no annual fee. There is also $50 free credit available on purchases.

The Platinum Card is for intermediate cardholders, who have a good history of making payments. So, purchases are interest-free as long as payments are regular and on time.

The Sapphire Chase credit card, meanwhile, is for the experienced cardholder. After the first purchase, 10,000 points on the rewards scheme are automatically credited the cardholder.

2. Cards for Students

Students find a vital use for their credit cards since they do not always have cash available to buy food, for example. A credit card allows them to remain stocked up, and provides a way to pay utility bills too. The best Chase card for students comes with an introductory offer of 0% APR and no annual fee.

They typically come at a low interest rate, and the rewards system is based on what are known as Karma points. They are earned whenever a purchase is made, and can be shared on Facebook. With them, certain items can be bought at a discount, like DVDs and selected electronic gadgets.

To help students avoid the credit trap, these cards are available at relatively low credit limits, while advice is on hand, online and over the phone, to help students properly manage their Chase credit cards.

3. Cards for Retirees

In most cases, retirees have either no source of income or a very limited one. Retirement may be designed for rest and relaxation, but retirees want to do things and go places too. That is why the best Chase credit card for the senior citizens is the Senior Rewards Platinum card.

As is expected, 0% APR is available as an introductory offer, as well as no annual fee. And with the card available at low interest rates, holders can feel free to use the card as much as possible. There are also discounts available from service, hospitality and retail providers.

So, with a Chase credit card dedicated to the needs of the senior citizen, the opportunity to travel and enjoy life again is at their doorstep.

Sarah Dinkins is a financial advisor who writes about Guaranteed Unsecured Credit Cards and 100% Guaranteed Bad Credit Loans

By Sarah Dinkins

Accept Credit Cards - A Must For Your Business!

Irrespective of the trade you are indulged in, accepting credit card payments has emerged as an absolute necessity for every merchant, whether big or small. Accepting plastic cash payments not only reduces the unwanted business overheads, but also improves the cash flow considerably. By imbibing in the ability to accept and process these alternate modes of payment, a merchant can enjoy a number of advantages for his business. Read below to discover some of the major reasons why your business unit must accept the plastic cash payments.

- Easy and convenient:

By accepting such payments, a merchant imparts convenience to his clients to make their payments by their preferred payment mode. By providing this additional level of convenience, a trader can actually build a strong professional image and prove to his clients that his enterprise is a serious one.

- Benefits of impulsive buying:

Many times customers hold back from buying a product/service because they don't have money at their disposal at that particular moment. However, if a customer is provided with the opportunity to pay later for the products he buys now, then he buys much more than he would have otherwise. These payments actually promote impulsive buying and help businesses harness higher profits.

6 Elements of Successful Investing

Success in investing requires both persistence and trust. Despite a history of occasional recessions and drops in the stock market, the overlying trend is upwards.

Applying answers to the basic questions of what, when, where, why, how and who will enable you to grow your retirement account safely or to build your everyday investment portfolio without fear of losing all your money.

"Who" is you, or your family. If you take control of your future, your financial future, like you do driving a car, you can take your finances ahead just like driving a car forward. Sure you may have to change lanes, stop at red lights for a while, maybe even change models but you can get to your destination and reach your goals.

"Why" is simple. If you are to protect and grow your retirement account or regular investment account safely and profitably you need to take some action to ensure your money or someone else's money is safely invested and will grow. If your money doesn't grow it slowly shrinks in value as inflation makes each dollar worth less tomorrow than it does today. And just keeping even with inflation means you are not really building or enhancing your financial future or your ability to enjoy retirement without wondering how you are going to pay your bills.

"When" is about when are you going to take action. If our last recession scared you and you have your money "safely tucked away" so you don't lose more than you already did you are probably losing unless you are monitoring with an investment software program that tells you when to get back into the markets after a downturn, any downturn.

How Stock Inquiry Rating Is Processed

Before shelling out a great part of your retirement savings to buy stocks, it's very important that you know precisely what type of investment are stocks investments. Stock investment is actually buying a small unit of possession from a company. The stocks you bought from such company will provide you certain benefits like voting rights and then receiving profits every time the company distributes profits to its stockholders. The quantity of profit share you are to receive is reliant upon the amount of stocks you have purchased from such company.

One of the finest features of stock ownership is the undeniable fact that you as a shareholder of the company are entirely free of any culpability however if the company loses a court action and pay a big amount then you must prepare for the worst since such occurrences regularly lead rendering your stocks worthless.

The very good news is you can still prevent such unpleasant eventuality from taking place; all you have got to do is to employ the experience of a stock research provider or a stockbroker, whichever you like the objective of your hiring them still is the same and that is to supply you with effective fiscal advice on how to reduce the risk of your stock investments and to enhance your prospects of gaining.

Before implementing any money strategies, it's critical to conduct fundamental analysing. This research is accomplished by a stock research supplier. The fundamental research involves the process of inspecting the basic of the fundamental money level of the company or the business which you are eyeing in buying some stocks. The analysis should also include investigation of key proportions of a business in order to identify its financial health so supplying you with the idea of the value of its stocks.

Visa Vs MasterCard - Which is the Best?

The two leading credit card companies in the world today are the competitors Visa and MasterCard. They both operate along very similar lines. While Visa can claim to have almost a billion cards issued, MasterCard has over twenty five thousand banks issuing its cards and it is difficult to find any difference in the number of locations worldwide that accept the cards, which is now estimated at over twenty million.

In fact, as far as most consumers are concerned, there is no real difference between the two. They are both very widely accepted in over one hundred and fifty countries and it is very rare to find a location that will accept one but not the other.

However, neither Visa nor MasterCard actually issue any credit cards themselves. They are both simply methods of payment. They rely on banks in various countries to issue credit cards that utilise these payment methods. Therefore, the interest rates, rewards, annual fees, and all other charges are issued by your bank and when you pay your bill you are paying it to the bank or institution that issued your card and not Visa or MasterCard.

How Visa and MasterCard make their money is by charging the retailer for using their payment method. So the truth of the matter is that a Visa issued by say the Bank of Scotland will have very little to do with a Visa issued by other banks and may in fact by more similar to the Bank of Scotland's MasterCard.

How Credit Card Debt Settlements Can Save Money and Hassle

The problem with making good use of credit cards is that, more often than not, they end up creating a crippling debt. With as many as 5 credit cards owned by the average US cardholder, debts can run to as high as $50,000. The best solution in such cases is a credit card debt settlement program.

The challenge of repaying any form of debt is pretty tricky, but clearing existing card debt can be a significant accomplishment in its own right. If the total debt is around $50,000, then removing it makes a huge difference, but there is little doubt that some help is required.

Of course, as with all financial issues, there are terms and conditions to look out for. Choosing the right debt settlement scheme is vital if the true benefits that come with lifting credit card debt are to be enjoyed. But what factors need to be considered?

Understanding How Debt Settlement Works

The principles of clearing outstanding balances via credit card debt settlement are based on compromise. When a credit card company realizes the total debt will never be repaid, they are willing to agree to a settlement program to recover a certain percentage of the money owed.

For example, after some negotiation, the issuer and the cardholder may agree a 50% rate, which means that only half of the money owed is repaid. A $50,000 debt, therefore, falls to $25,000. So, by clearing existing card debt through the program, some serious savings can be made.

Things You Can Do to Wreck Your Credit

Getting a good credit score is vital to your financial success. But a common misconception is that paying your bills on time is enough to create an excellent credit rating. Even if you never pay your bills late, there are still plenty of things you can do to wreck your credit standing. What follows are three common financial misconceptions and why believing them can seriously handicap many aspects of your future.

1. It doesn't hurt anybody to charge up your existing credit cards close to or over the granted credit limit. Some people do not realize just how much of a part their utilization of existing credit plays in their financial standing. If you have a $1,000 credit card and owe more than $500 on it, this will wreck your credit rating. The damage escalates the higher your debt gets in comparison to the credit limits lenders have extended to you. If a card gets over the limit, you have significantly damaged your credit score and risk being denied accounts or issued unfavorable interest rates. The good news is that your credit rating will bounce back once your payments reduce the account balances.


2. It is fine to apply for "instant credit" whenever you feel like it. Most department stores and even smaller retailers offer a discount on merchandise when customers apply for a new account or "instant credit." But every time you apply for a new account, the lender will take a look at your credit report. This review is posted on your credit file as an "inquiry." Too many inquiries can not only wreck your credit standing, but also cause some lenders to outright deny your account request. Credit scoring software deems too many applications as a potential sign of financial trouble. Inquiries remain on your report for 2 years; the damage to your rating is reduced after about 6 to 12 months.

How to Remove Late Payments on Your Credit Report

With these tough economic times so many people fall into the category of having late payments on their credit report. Late payments on your credit report can be very damaging to your credit score. It is important to understand how lenders view people with them on their credit reports. The lenders see the them as a major problem and as that person can not pay their bills on time or that person will eventually not pay them at all. When trying to buy a home, most lenders will not lend money for a home if you have more than one late payment, especially a mortgage late payment, on your credit report. Many times credit card companies, banks and auto loan lenders will only approve your loan with a very high interest rate. Over a lifetime you could pay $200,000 or more in interest as apposed to someone who has none on their credit report and has an excellent credit score.

Are you wondering "Can you get these late payments on your credit report off?" The great news is yes, you can get them off your credit report. Of course you could let them ride for years until they fall off your credit. Unfortunately, the credit bureaus don't always do their job and remove items like they should. It is important to take action immediately and get them removed. Trying to get the late payments on your credit report removed by calling the credit bureaus can be a significant waste of time. The credit bureaus will just give you the run around and then tell you that you can dispute the items. In addition to that phone calls don't always get tracked where as mailing in the dispute does.

In order to remove late payments on your credit report your have a couple of options. Number one, you could do it yourself or number two, you could let a creditable credit restoration company with an A+ rating with the Better Business Bureau assist you in the process. With so many companies how do you know which credit restoration company is best for you. First, you want a company that is out there working hard for your dollar and delivering on the services they promise. Some companies offer "low cost monthly options" but it usually ends up costing you more money in the long run because the company disputes only one item at a time.

The Big Three - Visa Vs MasterCard Vs American American Express

How many times have you looked at a magazine or commercial offering you a Visa, MasterCard, or American Express (AMEX) credit card? At that time, did you stop to think about which one was the best choice? If so, here are some things to remember when deciding on a Visa, MasterCard, or American Express charge card.

1. What Visa, MasterCard, and American Express All Have in Common

All three major credit card companies offer unique credit cards. Some of their cards offer rewards or special discounts on purchases. Also, some of them will let you customize your charge card's appearance.

Depending on how much your credit limit is with the companies, you can use them for cash advances. You can also transfer the balance of one card to another with these companies when trying to save money and quickly pay off a balance. However, you may be charged a balance transfer fee.

2. Where Visa and MasterCard are Better Than American Express

Visa and MasterCard are more widely accepted than American Express. With them being widely accepted, they are more widely offered. Though there are banks that offer American Express cards, more banks will give you a Visa or MasterCard charge card.

3. Where American Express is Better

Though American Express credit cards (in comparison to Visa and MasterCard) seek to attract middle class citizens, they offer more business oriented benefits. AMEX, in most cases, does not have a bank as its middle man. As American Express can issue its cards directly to customers, the company can more easily address its customers' questions and problems. This lack of needing a bank's aid also enables AMEX to directly communicate its offers and service updates to its users.

AMEX is a better card for businesses as it offer great reward perks for business traveling purchases. The company has its own customer service line available 24 hours for scheduling trips. The company also offers double reward points for setting up your trip through its website as a member of the company's reward program.

Basic Tips For Getting Business Loans Approved

By Alyssa Riggs

Getting enough money to for expansion, improvements, and various other project is never easy. One of options you have for raising the funds will be to apply for canadian business loans. The application involves a lot of preparation since lenders do not just let anyone borrow from them. Lenders want know that you will be able to repay them.

Borrowing money involves filling out an application. You will be asked to provide information about the state of your affairs. Then, these information must be supported by documentation. Gather your financial statements and prepare for presentation. Do not convince the lender by exaggerating the numbers since they will be double checking this anyway.

Most people will focus on showing how they will be able to make the payments. However, there is really no guarantee that your plans will succeed. Even if you are very good at what you do, various factors in the market can be causes for failure. Lenders will want to know what you will do when the worst happens.

You also have to take a look at the state of your finances. The most important thing to be done is to make a convincing presentation that your company can repay the funds yo have borrowed. Other assets that can be used as collateral weigh in on your favor. Having an alternative source of income is considered a plus.

How to Get a Rate Reduction on Your Credit Card

The interest rates on credit cards can add up quickly, taking away hundreds of dollars or more annually. Getting lower interest rates or rate reductions on your credits cards can help you save money for other expenses that you face.

Unfortunately, too many people let their interest rates stay at levels that are higher than what they can actually get. Here are just a few tips on getting proper rate reductions so you can keep more of your money.

Credit Score 

Before you can ask for rate reductions on your credit cards, the first thing you have to do is evaluate your current credit standing. This process starts by looking up your credit score. You will want to know your credit score first to see where you stand and if any past issues are still affecting your credit. By cleaning up any past problems, you will have more leverage to get lower interest rates.

Calculate Your Current Interest Rates 

Take all of your current credit card statements and look at the APR (Annualized Percentage Rate). If you are having difficulty finding the APR, call your credit card company and ask what it is. Once you know what the interest rates are, you now have a baseline to work with your credit card company.

Shop Around for a Lower Rate 

If you are in good standing with your credit card company, take a few moments to go to their website and see what rates they are offering new customers. It's quite possible that you'll find that new customers are being offered noticeably lower rates. If that is the case, call up your credit card company and ask for the lower rate. If you are in good standing, you will more than likely get the lower rate applied to your next monthly bill.

Where To Find Real Estate Listings

It should not be difficult finding Fort St John real estate listings, as long as you know where to look. The first step you need to take is no doubt searching the web. There are plenty of companies that are willing to help you find the type ofpropertyyou're looking for, so don't hesitate to ask for their help.

Research is no doubt the first and most important step to take in such an undertaking. When you're looking to rent or buy, then do invest time in browsing the net and all the companies that offer you details of this kind. Researching the matter efficiently will ensure you are aware of all your options and you make the right decision.

Apart from all the properties that are available, you will be given also details that concern pricing as well as steps you need to take before you rent or buy. In general, all the insight you'll be given, will assist your search and final decision and it will be made a lot easier. If you're thinking of moving abroad, then you will manage to get help regarding this big move as well on these kind of sites.

Although you might think that it is going to be a difficult procedure, finding a property through such websites is extremely easy. You need to do nothing more than search the city, property type and price range you are aiming for. A series of results appears and you just scroll through them, making note of the ones that could work for you.

Types of Bonds to Invest in Financial Markets

Are you new to the Indian stock market and feel lost at the mere mention of financial terms such as shares, debentures, stocks, bonds, equities, etc.? To begin with, you need to know the different types of investments. There are basically three different kinds of investments:

1. Short term investments: These types of investments are done for a couple of weeks to a couple of months. They are made based on breaking news or on charts of technical analysis.

2. Mid-term investments: These types of investments are made for a couple of months which may even last for a couple of years. They are made based on the analysis of quarterly financial results or fundamental analysis.

3. Long term investment: These types of investments are made for longer durations of time lasting for a couple of years; for e.g. 3-5-10 years, etc. They are made after thoroughly analysing the fundamentals of the company and its prospects of future growth. These types of investments are generally free from the daily volatility (up-and-down) of markets and their share price.

There are many different ways to invest money; which are different from each other, depending on their risk factor and the amount of returns that they provide. The common ways by which you can invest your money include: 

• Bonds 

• Debentures 

• Stocks 

• Mutual Funds 

• Futures 

• Gold 

• Real Estate 

• Forex

Do You Have a Debt Management Strategy?

Ensuring you have a documented process to collect your overdue accounts is fundamental to any business, large or small. If you don't, then you run the risk of quickly losing control of your Accounts Receivables.

There are a number of common denominators as to why business owners struggle with asking their customers for payment themselves:

- How do I approach them? 

- How will they react? 

- Will it affect the relationship? 

- Will they respect me in the morning?

The most important thing to remember - you have provided a product or service to the customer & they have not paid you within the agreed terms. You, as the creditor have every right to ask for payment. Sounds simple enough, doesn't it?

How Do I Approach My Clients for Payment?

For accounts that have just fallen overdue, the ideal solution is to call them, simply because there is a better than average chance you will hear the most commonly used excuse "Oh I don't have your invoice - can you send it to me again, please?"

Second Rule for Money: Live Debt Free

In an earlier post I wrote that the first rule for money is to save. Saving money will always increase your wealth and provide you with the means to take advantage of opportunities or overcome emergencies that you can be sure will arise during your lifetime.

For many people the biggest obstacle to saving money is excessive debt. Personally, I see debt as a dream killer. One of the many problems with debt is that many people fail to consider the interest and monthly payments associated with debt. The amount of money borrowed is not the amount that you will actually pay and you will reduce your income each month to repay that debt.

Here is a simple example of the effect that interest has on the price of an item. If you purchase an item for $100 on credit with a 10% interest rate over one year, the actual cost of the purchase is $110. Therefore, you have just increased the price of the item you purchased by 10%. The result is that you pay too much for the convenience of not paying for it today.

Think about taking an item to the cashier to pay for it and you are told that the price is 10% higher than what is on the tag. You would not be happy and most likely would not purchase the item. However, each time that you purchase something on credit you have increased the price of that item by the amount of interest you will pay. If the interest rate is high and you make minimum payments, you could even double the cost of your purchase. Ask yourself when you make a purchase on credit if you would pay ten or even twenty percent more for that item.

The second thing that people don't think about is the monthly payments that are associated with debt. The fact is that your cash flow will be reduced each month until your purchase is paid in full. It doesn't take many purchases until you no longer have enough cash to pay your debts and living expenses. I like to think that I get to keep the money I work for instead of sending it off to some credit company. I also like to know that there is enough cash available to take care of important things in life such as food, vacations and emergencies.