Money Minute: Tuesday 10 December

You may or may not have heard the phrase “pay yourself first” before. But, what does it mean? Simply put, paying yourself first means you set aside a portion of your income to save, and then you put that amount into savings before paying your bills or buying groceries. For many people, saving money seems like an impossible feat. After you’ve paid the rent or mortgage, the car payment, the utilities, put gas in the car and bought groceries, there just isn’t anything left over to save at the end of the month. The problem is, with your budget upside down like this, there never will be.

Tired of being harassed by debt collectors? Knowing your rights under the Fair Debt Collection Practices Act (FDCPA) can help keep you from being intimidated. Realize that debt collectors are actually trained to try to intimidate you. They know that if they can get you into an emotional state where you are operating out of fear or anger, you will lose the negotiating game. Follow these steps on how to not be intimidated when confronted by debt collectors.

The single most important tool to get out of debit is a budget. Many people rebel against the thought of creating a budget. It seems so restrictive. After all, we earn our money; shouldn’t we be able to decide how to spend it? Actually, instead of being restrictive, making a budget is actually the most efficient way to decide how, where, when and how much of your money to spend. When you create a budget, you tell your money what to do instead of wondering at the end of the month (or year) where it all went.

A placement agent is a financial firm who act as an intermediary in the world of fundraising. Sometimes it is an individual but more often a firm who assists entrepreneurs, private companies, or institutional investors who are willing and capable of investing a private equity fund.

Debt can hit you suddenly, or it can creep up on you almost unnoticed over a long period of time. Simply stated, we get into debt when we spend more than we earn – for whatever reason. We usually tell ourselves we’ll pay it off, we’ll get caught up, everything will work out. Then suddenly we find we are in over our heads and can’t see a way out. Do you know the 3 major reasons people get into debt in the first place? If not, you may actually be surprised to find out what they are.

Negotiating with debt collectors can be challenging. But, you may be surprised at how willing they are to negotiate. Don’t pass up this opportunity to get more favorable terms. If you are ready to make a lump sum payment and get rid of a bill once and for all, you are in the position of power in the negotiating process So, take the upper hand and get the best deal you possibly can. Here are three tips to help you.

Those who are struggling with debt may need immediate and sound financial support. Fortunately, there are many credit repair companies that can help them through debt settlement programs intended for getting them to steadily repay their debt to creditors.

If you’re struggling with multiple debts it can be difficult to keep a clear focus on which ones to pay first. Some debts are much more important than others though and need to be prioritized – which are they?

As anyone who runs a business will know, collecting the money owed is easily one of the most challenging aspects of administration. One of the things you realise after going into business is that clients will always get away with what they can. The majority, of course, will pay up faithfully and on time every time, but there is always a percentage who will–for whatever reason–drag the chain when it comes to payment.

If you’ve been battling lately with trying to track down overdue payments for invoices, you’ll understand how frustrating it can be. In a world that runs on the assumption that services you provide will be rewarded with prompt payment, the reality of the situation is that businesses and sole traders are often left short by clients who for whatever reason refuse to pay in a timely fashion.

There’s nothing more frustrating than being taken advantage of in business. When you provide goods and services, you expect clients to pay up accordingly, but so often you encounter that frustratingly vague, flaky client who seems to fall off the face of the planet just as soon as your invoice is received. In terms of getting your money in full and on time, there are several actions you can take, from preemptive measures like previously-agreed-upon dates to more proactive methods like enlisting the help of a debt collection agency.

When it comes to running a business, there are a whole host of things it seems you need to be thinking of all the time, whether it’s how to handling your marketing requirements, how to develop your business in new and exciting ways or the more mundane and annoying tasks of trying to decide whether to refer that delinquent client on to the debt recovery services. It can feel like you’re juggling too many balls at once, so here are 4 ways in which you can take some of the stress out of your week as a business owner….