Points To Consider While Selecting A Credit Card

March 02, 2014  //  Posted by: Financial advisor  //  Category: Financial Manangement

Credit CardAlmost every bank and financial institution offers credit cards to its clients these days; these cards allow you to make purchases of consumer goods as well as services on credit. In fact, making purchases with credit cards is the most common form of payment nowadays and this has already led to a direct increase in the level of consumerism. With the increased use of credit cards, different types of credit cards have made their foray into the market and therefore if you are planning to get a new credit card it is important that you understand which the best for you is.

Selecting a credit card

• First, it is important for you to know about the different kinds of credit cards available. While the most common type of credit card is the one offered by banks, there are retail store credit cards and entertainment and travel cards as well. You will have to understand which kind of credit card will suit your need the best and decide accordingly.

• You will have to also determine how you plan to use the credit card. If at times you run short of money and are unable to pay the entire credit card bills and would want to pay only the minimum amount then you can opt for a credit card with low interest rate.

• While choosing a credit card it is also very important to verify the Annual Percentage Rate (APR), balance transfer, cash advances and periodic rate of purchase. Compare the APR with monthly rate schemes and see whether it is worth choosing or not.

• See whether a credit card offers grace period or interest free period or not and also check out whether the card can be grouped with cash advance plans or not.

• Check whether the payment scheme or plan suits you or not.

What is enterprise investment scheme?

May 02, 2013  //  Posted by: Financial advisor  //  Category: Financial Manangement

enterprise investment schemeMany companies that have an actually good impact and go by the values and concerns of the government are provided with the offer of having enterprise investment schemes. These schemes are basically a specialized investment scheme for people willing to invest on such companies. Many of these companies are new to the market and do not get much investments. Most investors are not sure of the progress of that company. But the company needs investment and the functioning of the company is imperative to the government. Thus investors are lured to invest in such companies via the enterprise investment scheme which provide the investors to escape a large portion of their taxes.

There are quite a few companies that have been granted the enterprise investment scheme. These are granted on the basis of incentives they provide. Such as a company that provides with functioning parts for renewable heat through biomass or some such eco friendly method. This company is then granted with EIS tax reliefs for its investors and makes it more lucrative for them to invest in such a company.

Keeping Your Holiday Spending Under Control

January 05, 2013  //  Posted by: Financial advisor  //  Category: Financial Manangement

Financial tips, personal financeThe holidays are around the corner again and it’s time to celebrate and have a wonderful time with family and friends. It’s also the time when we buy gifts, decorations foods, and plan for vacations. All these need a lot of financial planning and one needs to keep the holiday expenditure under control so that they don’t exceed your financial limits. Make a budget plan before you start shopping. You need to categorize every kind of list and gift items accordingly and see how much you need to buy.

Then check your budget and start adding or cutting down on the number of items or on the type of items you’re buying. If you’re on a tight budget this year, you can even make some handmade craft like cards, gift-baskets, home décor items and give them to your loved ones. It’ll be a more personalized gesture which would hold a very meaningful significance.

Control your budget during financial crisis

October 22, 2012  //  Posted by: Financial advisor  //  Category: Financial Manangement

Budgeting during economic crisis, financial managementIn these times of financial disturbance, it is very important that you take care of your money. Being a spendthrift during a time of financial crisis is not a very good idea. Therefore, you should follow a few steps in order to make sure that your money stays with you. First of all, it is important that you feed your savings account regularly. Treat it as a debtor who has to be paid every month.

There are a lot of expenses that you could simply do without. Cooking your meals at home, taking frequent walks, taking the bus instead of the cab are some of the things you need to do so that every penny is saved. You should also check your bank accounts from time to time. All the transactions in the bank pass books should be updated and thoroughly scrutinized so that you know where your money is going and from where it is coming.

Money management tips for businessman

October 12, 2012  //  Posted by: Financial advisor  //  Category: Financial Manangement

Tips to save money, money managementMoney management is a very important aspect for doing well in any kind of business. Whatever be the scale of your business, you have to be able to manage your money in order to succeed. Saving your money is very important and for that, you should try to stay away from the money.

You do not have to carry your money all the time with you. This will help you not spend money out of your budget. It will be effective if you consider the savings account as a place that owes you money. It is all about conditioning and if you can train your brain in that manner, you will be able to save a good amount every month. Try to stay away from the credit card debts. They have a very high rate of interest and it is simply not worth it when you are trying to save your money.

Easier ways to prepare your balance sheet

September 05, 2012  //  Posted by: Financial advisor  //  Category: Financial Manangement

 balance sheet, cash flow statementIn order to get a cash flow statement prepared in the proper fashion, it is important that you learn how to go about it in the proper way. The first step will be the addition of the section that would deal with the net income and the others section that would deal with the net depreciation. You have to make consideration of the increase or decrease in the assets or the liabilities that may have taken place in the period of two years.

This should be clear in the balance sheet. There will be a negative effect on the overall state of the cash balance if there is in an increase in the accounts receivable even though, overall it is a goof thing. That cannot be counted as a cash flow which is positive. While preparing the statement of cash flow in the second portion, you will have to make sure that you include all the long term investments with all the fixed assets or the improvements of the office bui8lding of the plant.

How to educate your children about money?

August 11, 2012  //  Posted by: Financial advisor  //  Category: Financial Manangement

Tips to educate children about money, value of moneyMoney is one of the most important aspects of our lives and it is essential that you understand the proper value of it. It is for the purpose of earning money that most of us work hard and money is a very indispensible factor that dominates the entirety of our lives and so its avryu important that we do not waste it unnecessarily.

While most of the grownups are well aware of the value of their hard earned money, it is also very essential to make the children understand the proper value that money holds in our lives. If you want to educate your children about the value of money in our lives then it is likely that you take an approach that they will find interesting so that it motivates them to adhere to it. You can do this by telling them the stories which have the moral of not wasting money.

Money management for household

August 01, 2012  //  Posted by: Financial advisor  //  Category: Financial Manangement

Money management tips, financial tipsAt the end of every month you might be feeling that you should have planned your monthly expenses in advance to avoid extra spending. This is a good idea but most of us never get around doing it. That is why start planning at the beginning of the year. Your annual budget will help you determine your monthly expenses. Keeping money for rents, insurance, personal needs, groceries, bills and also for dining out and for fun – all this might seem overwhelming but if you break it down and categorize, then that might not be that difficult.

First of all, find out how much you need to spend on your groceries and rent. Once that is fixed, make a maximum budget for your bills. Then make a list of the items which you will need immediately. Once all this is covered plan out how much money is to be spent on each family member. Keep a little extra just in case. Always save money in your bank or through your investments each month. Once all this is done, you can make a budget for your outings, dining out and other outdoor expenses. Have fun, but within limits.

Managing foreign financial asset

May 19, 2012  //  Posted by: Financial advisor  //  Category: Financial Manangement

Manage foreign financial asset, financial assetCorporations that are involved in doing business with many countries have their profits influenced by the rates of the foreign exchange. Revenue is received by this company by the operations held in the foreign countries with the currency that is local to that country. However, at the time of stating the earnings and publishing the statements of the finances, it will be done in the currency of the country of the company.

If a company of the United States makes affairs in other country, the fund of the profit will show lesser dollars if the revenues of that foreign country is decreased. The companies should hedge with the contractors of future. One has to offset the currency of the foreign country or the revenue that is expected with forwards or futures in order to manage the risks of the foreign exchange. Another effective way of managing the risk of foreign exchange is the buying of swaps.

Managing federal grants

May 18, 2012  //  Posted by: Financial advisor  //  Category: Financial Manangement

Manage frederal grants, federal grantsFederal grant is a sort of financial support given by the government to a particular individual to help him carry out a public cause, stimulation or support permitted and authorized by the law. It is actually a sort of loan which is granted to the individual to further a cause which has a public interest in general. But as is the case with all forms of loan, management of the money is very important and managing federal grants is also a skill that is necessary for those who receive it.

The management of federal grants requiring managing the total expenditures of the grant amount apart from the proper documentation and reporting. Federal grants management also involve the proper way to increase the efficiency of the funds in hand. As these grants are provided by the government, an important part of managing these sort of grants is to handle the audits and also ease its impact.