Sabtu, 07 Agustus 2010
Google is The Best Bussiness Driver
As a prospective entrepreneur, operating either one web site or several websites, the primary motivation is probably commerce, regardless of product or services rendered. The reality is that while a customer needs a product, they're almost certain to utilize Google as the tool to locate and buy products from the hopeful eCommerce entrepreneur. According to the real time statistical source, Worldometers.net, Google searches average well over 840,000,000 per day. How does one structure a web site, fulfill customer expectations and reap the rewards? This is the key issue facing small business.
Where is the Fit ? : Facebook, Twitter or You Tube ?
In today's internet world, good search engine keyword placement and keyword Meta tags are only part of the solution. Formerly, it was the only solution to getting your product or service noticed on the web. With over 1.7 billion world wide users on the internet, according to an Internet Usage Reporting site, Internet World Stats , the future of eCommerce sales supported by a shopping cart looks rosy.
However, with the proliferation of thousands of sites with shopping carts, conversely, the success of e commerce looks like its own worst enemy for the prospective entrepreneur. Social networks, such as Twitter, Facebook and Linkedin supported to an extent, by YouTube are the reality that must be considered. When blogs are added to the marketing equation, the picture may be more complicated, but still rosy.
However, with the proliferation of thousands of sites with shopping carts, conversely, the success of e commerce looks like its own worst enemy for the prospective entrepreneur. Social networks, such as Twitter, Facebook and Linkedin supported to an extent, by YouTube are the reality that must be considered. When blogs are added to the marketing equation, the picture may be more complicated, but still rosy.
Tips When Using Social Networking Sites for Marketing
For online advertisers and internet marketing specialists looking to capitalize on social media for sales, opt-ins, and long-term success, it might be best to step back and think about how they are going to do so. The following are tips that will help any online marketer approach social network marketing effectively:
Hitting this point of relative popularity is suicide for relationship marketers and internet marketing specialists. For brands and online businesses, no matter how big or small, it is important to be accessible to all followers, and minimizing interference and noise can help social network marketers achieve that. Knowing this, social network marketers should cut out useless followers, prioritize real interaction, and reap the benefits.
Don't Become "Follower-Deaf" on Social Networking Sites
Follower deafness is an social network marketing setback that is exclusive to Twitter. When profiles reach a certain level of popularity, particularly in the amount of people they are following, it becomes difficult for the owners to achieve real two-way communication with any of the people attached to their account.Hitting this point of relative popularity is suicide for relationship marketers and internet marketing specialists. For brands and online businesses, no matter how big or small, it is important to be accessible to all followers, and minimizing interference and noise can help social network marketers achieve that. Knowing this, social network marketers should cut out useless followers, prioritize real interaction, and reap the benefits.
How to Effectively using Social Networking Websites
For online entrepreneurs that are thinking of marketing products through social media, these tips will no-doubt help in achieving success. Social media marketers and internet marketing specialists should avoid becoming a mismatched marketing disaster and apply these tips, tricks, and tactics to reap the rewards that social networking sites can offer smart, innovative, and adaptive marketers:
Social media marketers and internet marketing specialists should use a soft and less aggressive approach to their social network marketing efforts. They should always treat customers as prospects that deserve long-term care and attention. Sales are made through social networking sites, but they are rarely made through pushy marketing efforts and short-term sales tactics
Another value of starting out in social networks is in building hype. Cap'n Crunch was an advertisement three months before it was a product. Why? Because the people behind it understood the importance of marketing on a product's design, direction, and long-term strategy. Online entrepreneurs and internet marketing specialists can basically replicate that type of marketing strategy in a simpler and more inexpensive manner through the use of social networking sites.
Never Be Pushy on Social Networking Sites
Audiences on social networking sites hate spam, even the kind of spam that offers real value. If online entrepreneurs and internet marketing specialists market their products aggressively, particularly through the kind of "buy or die" marketing tactics that commonly pervade internet marketing, they will either be ignored or see nothing but rejection and criticism.Social media marketers and internet marketing specialists should use a soft and less aggressive approach to their social network marketing efforts. They should always treat customers as prospects that deserve long-term care and attention. Sales are made through social networking sites, but they are rarely made through pushy marketing efforts and short-term sales tactics
Create Your Product Specifically for Your Social Media Audience
Some of the biggest and most successful companies test their products with small groups to gain valuable consumer insights before launching. Online entrepreneurs and internet marketing specialists should test the waters with marketing before their products are completely developed. Social networking sites can be used to gather feedback while their products are in development. By doing this, they will be rewarded with much greater social media sales success upon launch.Another value of starting out in social networks is in building hype. Cap'n Crunch was an advertisement three months before it was a product. Why? Because the people behind it understood the importance of marketing on a product's design, direction, and long-term strategy. Online entrepreneurs and internet marketing specialists can basically replicate that type of marketing strategy in a simpler and more inexpensive manner through the use of social networking sites.
Back Your Offerings Up With Real, Constant Social Network Marketing Efforts
More than any other marketing platform, social media requires input in exchange for measurable output. Simply put, if online entrepreneurs and internet marketing specialists want to generate sales, they have to exert real effort. They need to get out there in the trenches and interact with their potential customers, even after they have bought whatever is being offered.Succed in Business : About Sales Generation on Social Networking Websites
From Twitter to Facebook, Friendfeed to Ning, social media websites have popped up in massive quantity. This has rewarded internet marketing specialists and online advertisers with a level of access to large groups of targeted audiences that was once impossible to reach. Now, there are even add-ons, web apps, and software that help online marketers easily establish their presences on social networking sites.
Generally, social networking sites are for branding exercises, traffic generation, and community marketing. Because audiences on such sites are known to have mindsets not suited for direct marketing, social media is rarely used successfully as a sales generation platform. However, there are actually huge sales generation opportunities in social networking sites for specific types of products.
Generally, social networking sites are for branding exercises, traffic generation, and community marketing. Because audiences on such sites are known to have mindsets not suited for direct marketing, social media is rarely used successfully as a sales generation platform. However, there are actually huge sales generation opportunities in social networking sites for specific types of products.
Direct Selling Opportunities on Social Networking Websites
Beneath the mismatched businesses and poor planning often observed among businesses and internet marketing specialists engaged in social network marketing, there is potential to social media. This is particularly true for one type of product: the digital product. Digital products, particularly informational products, are inexpensive, easy to purchase, and profitable not just for their manufacturers, but for their marketers – everything that social media marketing demands.Succed in Business : Differentiate Brand and Product Marketing
Whether the professional is an executive in a mid sized corporation, a small business owner, or entrepreneur looking to grow a small business; it is important to understand one of the fundamental elements of marketing: the difference between brand marketing and product marketing.
Each is different but one cannot exist for a truly successful business without the other. Working together, they form an enviable strength that makes it hard for competitors to duplicate. Companies like McDonalds (I’m Lovin’ It), Dell (It’s a Dell) and Intel (Intel Inside) have done a stellar job using strong brand marketing to propel successful product marketing.
Each is different but one cannot exist for a truly successful business without the other. Working together, they form an enviable strength that makes it hard for competitors to duplicate. Companies like McDonalds (I’m Lovin’ It), Dell (It’s a Dell) and Intel (Intel Inside) have done a stellar job using strong brand marketing to propel successful product marketing.
What is Brand Marketing?
Brand marketing is when advertising a brand name, corporate vision or company image rather than a specific product or industry. To put it another way, brand marketing sells the sizzle instead of the steak. It offers consumers a glimpse into the essence of a company through strong brand awareness such as logos, company mission, and potent corporate slogans or statements. The basic elements of brand marketing include:A Progressive Marketing Strategy
The benefits cannot be stressed enough. If time is taken by small business owners, marketing executives and entrepreneurs to formally develop a marketing strategy and marketing mix, a company’s likelihood to succeed will double. In 90% of small businesses, owners rely on intuition when making critical marketing decisions. This method does not allow the opportunity to think through all the aspects of the business; including critical elements such as products, placement and distribution. A well thought out marketing strategy allows management to define goals and provides a clear path to achievement.
The following represents a very brief overview of the steps needed to put together an effective marketing strategy. Keep in mind that although the business may require more or less elements, these are the basic essentials that need to be addressed in every successful marketing plan.
The following represents a very brief overview of the steps needed to put together an effective marketing strategy. Keep in mind that although the business may require more or less elements, these are the basic essentials that need to be addressed in every successful marketing plan.
Saving Money for College
College tuition is a big expense that many families are not prepared for. Tuition prices typically rise by as much at five percent each year, so it is a good idea to begin an educational savings plan early. Although saving for college can seem overwhelming, there are many college savings plans in place to help parents save over time or grow savings by investing in stocks and bonds.
Almost every state has at least one of these types of plans but they may vary slightly from state to state. While contributions to a 529 plan are not tax deductible, in some states a portion of what is saved can be written off. Disadvantages reported by some contributors are the steep brokerage and annual fees.
If parents wish to choose a Coverdell ESA, they should begin saving early. Maximum contributions to this college savings plan cannot exceed $2000 annually. However, low maintenance fees make these savings plans more popular than most 529 plans.
State Sponsored 529 Saving Plans
A 529 Savings Plan is a state sponsored college savings program with an added advantage of tax benefits. Monies that are contributed to a 529 plan are allowed to grow tax deferred until withdrawal. As long as the money is used toward the tuition of a college education, there are no taxes charged when monies are withdrawn.Almost every state has at least one of these types of plans but they may vary slightly from state to state. While contributions to a 529 plan are not tax deductible, in some states a portion of what is saved can be written off. Disadvantages reported by some contributors are the steep brokerage and annual fees.
Coverdell Education Savings Account
Similar to some 529 saving plans, a Coverdell ESA is an educational savings program that can be used for college. A nice advantage offered by a Coverdell ESA is monies can be withdrawn to fund private elementary or high school.If parents wish to choose a Coverdell ESA, they should begin saving early. Maximum contributions to this college savings plan cannot exceed $2000 annually. However, low maintenance fees make these savings plans more popular than most 529 plans.
Educational Saving Bonds
Educational Savings Bonds are virtually risk-free and offer similar tax advantages as other college saving programs. Because bonds cannot be purchased until the age of twenty-four, bonds need to be purchased in a parent’s name with the child being the beneficiary of the bond. A minimum of $50 is needed to invest and bonds usually mature to full face value after 17 years.Standard Savings Accounts
Many banks and lending institutions offer a variety of savings accounts for children. While most standard savings accounts do not offer any tax advantages, this type of college savings account is valuable in teaching children financial responsibility. When choosing a savings account for a child, look for one that has earns at least 1.5% interest and has no annual maintenance fees. Another advantage of a standard savings account is that any money deposited into it (under $100,000) is insured by the FDIC.Saving Account for a Child's Educational in South Africans
Save money towards a South African child's tertiary education with this initiative by the Department of Education and The Association for Savings and Investment South Africa.
Educational Savings Account
The South African Government rewards citizens who save for a child’s education. The Fundisa Fund is a savings account, which can only be used for a child’s education at a recognized college or university.High Yield Saving Account
This high yield saving account is exceptionally high yielding as the government pays a bonus of 25% per year for the first R2400 invested. The bonus is calculated in October and paid into the account in January.Start at January 2011 : Coalition Government will Scrap Child Trust Fund
The UK's coalition government announced on Monday 24th May that the Child Trust Fund scheme will be gradually reduced over the course of this year. It will then be scrapped completely on the 1st of January 2011 subject to final legislation being put into place. What does this mean to existing/new parents?
Important Tips : Saving Money for Children's Education
Start Saving Early for Children
It typically takes five or six years before a child begins her early education. So parents do have quite a long time frame to start saving. Ideally, do this before the child is even born. A cash savings of only $20 a week invested into a high interest savings account can help the parents save more than $1000 within a year. If the amount is reinvested year after year, it will grow into a sizable sum in 10 years. Make sure this fund is only for the child’s education and avoid using for other household or personal expenses.Open a Child’s Account in a Parent’s Name
Punitive tax rates – 46.5% when the interest income exceeds $420 per year – are applied to investment income earned by children. So avoid investing in the child’s name. Instead, invest in the name of the parent with no or lower income. In fact, a non-working spouse could earn an annual income, including investment income, of $14,000 before paying income tax.Invest in Managed Funds or Trusts
As it take years before a child steps into school, long-term investments like managed funds or trusts are extremely useful to save for children’s education. These investments are professionally managed by experienced fund managers and offer the opportunity to buy a diverse range of listed Australian and International shares. Start with a capital of $1000 and make a commitment to contribute $50 to $100 a month and the returns will snowball over the years.Use School Savings Plans
In Australian, many leading banks and fund specialists like the Australian Scholarship Group (ASG) and Lifeplan also offer school or education saving plans for children. These plans are often tax-effective as the Australian government encourages parents to save for their children’s education. However, proceeds from such plans are only meant for children’s education and cannot be accessed earlier. Those who withdraw funds before they are due often face a penalty.
Good education often equates better job prospects and salary packages. That’s why parents are willing to spend on children’s education. However, they need to start saving for it early and invest it wisely in a parent’s name. They can also invest in managed funds or trusts and use school savings plans to start their kids’ school funds.
Start Investing on a Low Income
Investors don’t need hundreds of thousands of dollars to start investing. In fact, even small income earners can make profits through investments. The key to successful investing lies in discipline and adequate knowledge of the financial and investment market.
So how to start investing on a low income? Check out the following investment guide for people with little money.
There are other advantages of buying units in managed funds as well. The investments are managed by experienced fund managers who diversity the assets across different sectors, reducing the risks involved while ensuring good returns.
So how to start investing on a low income? Check out the following investment guide for people with little money.
Pay off Consumer Debts First
Most investment advisers will highly recommend paying off consumer debts such as car loans, credit cards and overdrafts first. It makes no financial sense for someone to earn 5% of interest in cash investments like a fixed-term deposit when he has to pay 18% on his credit card. As a general rule, make sure consumer debts are less than 15% of take-home salary before starting on any investment scheme.Start Saving Early and Regularly
Everyone should start saving early and regularly to make the best of compounding interest. If a bank account holder re-invests his interest payment each year instead of spending it all, he will earn interest on both the principal amount and the previous year’s interest. Over the course of a few years, the amount will snowball into a sizable figure. And that can be used as a capital to invest in bigger investment schemes. For this reason, children and young working adults should be encouraged to start saving and investing early.Buy Units in Managed Funds
Buying shares for the long term is a good investment strategy. But for those on a low income, buying units in property and share-based managed funds is an ideal option. Try to save an initial $500 to $1000 and buy units in a managed fund. Then make monthly contributions to build up the portfolio. When there is a more substantial amount – $10,000 to $15,000 – consider buying shares directly. However, be sure to do some market research or get professional money advice first.There are other advantages of buying units in managed funds as well. The investments are managed by experienced fund managers who diversity the assets across different sectors, reducing the risks involved while ensuring good returns.
Open a Cash Management Trust
This is another approach to use before investing in the stock market directly. Typically, an initial deposit of $1000 to $5000 will be required. While the money in the cash management trust is waiting to be invested in future shares, it will earn a higher interest rate compared to a standard bank account. Cash management trusts are also very useful for those saving for a home deposit.Easy Way for Parents : Money Management
While generally considered a worthwhile undertaking, having children comes with a big price, quite literally. And without proper preparation and care, managing the costs of raising children is almost impossible. Here are some money management ideas for parents to ease the financial pinch and help ensure the family’s future.
Plan Household Budget
The best way to plan and keep track of family expenses is by planning a household budget. List the family income, expenses for essential items and extras and see if what is earned is more than what is spent and vice versa. If there is more spending than income, make the effort to cut down on expenses and pay off as many debts as possible.Household Finances
Save Your Money at a different stages
People need money management skills at different stages of their lives to accommodate their current lifestyles. The financial needs and wants of a young family can be very different from those of a mature couple or retirees. But one thing is for certain – it's never too late to start saving.
Here's a quick guide on what families and individuals should be considering at various stages of their lives when in comes to money management.
Learn to Budget, Save and Invest From 20 to 30
At this age, most young people are just starting to join the workforce or have worked for a few years. Those who are money smart would have started budgeting, saving and investing for their future. They would also have learned that it's not how much they earn that matters, but how wisely they save and invest.
However, young people who haven't done any of these can begin doing the following when they are still in their 20s.
- Set a reasonable and practical personal or household budget. Review and update it regularly as and when the financial situation changes.
- Put aside a certain amount of money each month in a high interest saving account.
- Young Australians should also contribute more for their superannuation.
- Buy income protection insurance.
- Pay attention to financial news and learn to take financial risks on growth-oriented products such as stocks and shares, and property investments.
Establish a Family and Home From 31 to 45
Many people are either in serious relationships or married with young children at these ages. The focus is invariably shifted towards home ownership and planning for children's future. Not surprisingly, family finances will revolve around boosting the household income, securing good home loans and investing for kids.Here are more money management tips for young families.
- Find ways to move up the corporate ladder to increase earning potential. If a spouse has to stay home to look after the kids, she can consider working from home part time or find a casual job with flexible hours.
- Families planning on buying their first homes should learn about the different home loan options available and make good use of any government incentives available, such as the First Home Owner Grant and the First Home Saver Account in Australia.
- Learn to manage home loans, credit card debts and other household debts effectively.
- Invest and plan for children's education and future. Lead by example. Have good money habits and teach children about money from young.
- Families with young children must also have ample health insurance and income protection insurance.
- Those who can afford it should seriously consider engaging a financial planner to establish long-term financial goals and build family wealth.
Manage Money Wisely
Knowing where money goes can be a tough challenge. But having a plan and doing a budget aren’t difficult. They help get finances checked. Here are money management tips and insights to track wisely where money goes.
The actual income and expenses should be written down. Once these two factors are realistically worked out, result is taken by subtracting the total expenses from the total income, which is a straightforward formula. What is more significant from financial planning perspective is seeing the result: the regular total income coming in and where the money goes (total expenses).
Spending Money Wisely
Here's the question: Is the result from the budget planner the one expected? The budget can show areas where changes in spending can be effected. One suggestion in sorting out expenses is to group into two, essentials and non-essentials.
Spending can be reduced in the non-essentials. If there's money left over, money should be spent wisely. This is where debt management comes into play, that is, to get debt under control. Some options where the "extra" money can be used are increase in credit card repayments or loan, or organizing a deduction for an investment account or separate savings.
More Tips How to Spend Money Wisely
* Avoid buying take away for lunch, take lunch to work
* Consider pre-paid options for personal mobile or cell phone
* Leave credit card at home
* Prepare a shopping list and stick to a limit
Setting Goals
It's difficult to have a budget if there's no plan what to do with the money. Setting goals will lead to what's being worked towards. Goals must be realistic, specific, and motivating enough for time frame to be followed. They can also have some dependencies like commitments and age, among others. Some of these commitments are:
* Getting debt under control
* Saving for a home deposit
* Savings for retirement
* Providing for Unexpected Expenses (to avoid using credit card or a personal loan)
* Other Savings
By using the budget planner, it can be worked out how much money has been left after expenses and how long it will take to get the amount needed, to save for those deposits.
Teaching Children about Money
For families who have children, parents should teach them the basics of money. Here are some tips to help kids:
* Encourage them to save regularly and as much as possible.
* Set an example by managing money well.
* Set up a savings account with a passbook to help them keep track of transactions in terms of deposit, withdrawal and interest they earn.
* Make savings fun by letting the kids choose their own realistic goals
Change being inevitable, it's advisable to revisit budget and goals regularly in order to reflect changes, perhaps twice a year, or when necessary.
The Budget Planner
A budget planner is a valuable tool to manage money. It can be weekly, fortnightly or monthly guide. Once the period has been decided, all the numbers or entries written down are for the same time period. It's also important for partners to agree on what they want to do with money. Therefore, it is good to prepare a budget together.The actual income and expenses should be written down. Once these two factors are realistically worked out, result is taken by subtracting the total expenses from the total income, which is a straightforward formula. What is more significant from financial planning perspective is seeing the result: the regular total income coming in and where the money goes (total expenses).
Spending Money Wisely
Here's the question: Is the result from the budget planner the one expected? The budget can show areas where changes in spending can be effected. One suggestion in sorting out expenses is to group into two, essentials and non-essentials.
Spending can be reduced in the non-essentials. If there's money left over, money should be spent wisely. This is where debt management comes into play, that is, to get debt under control. Some options where the "extra" money can be used are increase in credit card repayments or loan, or organizing a deduction for an investment account or separate savings.
More Tips How to Spend Money Wisely
* Avoid buying take away for lunch, take lunch to work
* Consider pre-paid options for personal mobile or cell phone
* Leave credit card at home
* Prepare a shopping list and stick to a limit
Setting Goals
It's difficult to have a budget if there's no plan what to do with the money. Setting goals will lead to what's being worked towards. Goals must be realistic, specific, and motivating enough for time frame to be followed. They can also have some dependencies like commitments and age, among others. Some of these commitments are:
* Getting debt under control
* Saving for a home deposit
* Savings for retirement
* Providing for Unexpected Expenses (to avoid using credit card or a personal loan)
* Other Savings
By using the budget planner, it can be worked out how much money has been left after expenses and how long it will take to get the amount needed, to save for those deposits.
Teaching Children about Money
For families who have children, parents should teach them the basics of money. Here are some tips to help kids:
* Encourage them to save regularly and as much as possible.
* Set an example by managing money well.
* Set up a savings account with a passbook to help them keep track of transactions in terms of deposit, withdrawal and interest they earn.
* Make savings fun by letting the kids choose their own realistic goals
Change being inevitable, it's advisable to revisit budget and goals regularly in order to reflect changes, perhaps twice a year, or when necessary.
3 Steps to Manage Money with create Budget
Step 1: Calculate your monthly household income.
Monthly income includes:
* What's left of your paycheck AFTER taxes and deductions. Deductions may include insurance and retirement plan contributions, among other things.
* Cash benefits from Social Security payments, temporary assistance for needy families (TANF), and other public assistance programs.
* Additional earnings from alimony payments, a part-time job, or other income sources.
Step 2: Calculate your monthly household expenses.
* An easy way to track expenses without trying to remember what you bought or locating last month's receipts is to keep a spending journal. In the journal, write down every purchase you make or bill you pay for one month. At the end of the month, calculate the total amount you spent. You should organize your spending into two categories:
o Fixed expenses (expenses that you must pay each month), such as rent, car payments, heat, etc.
o Flexible expenses (expenses that change month to month), such as entertainment, clothing, food, etc.
Step 3: Subtract total expenses from total income.
* If you have money left over, consider saving it in a bank account
* If your expenses are greater than your income, you'll need to determine how you can reduce expenses or increase income.
* If you're in debt and can't seem to solve the problem, speak with a Financial Empowerment Center counselor.
Monthly income includes:
* What's left of your paycheck AFTER taxes and deductions. Deductions may include insurance and retirement plan contributions, among other things.
* Cash benefits from Social Security payments, temporary assistance for needy families (TANF), and other public assistance programs.
* Additional earnings from alimony payments, a part-time job, or other income sources.
Step 2: Calculate your monthly household expenses.
* An easy way to track expenses without trying to remember what you bought or locating last month's receipts is to keep a spending journal. In the journal, write down every purchase you make or bill you pay for one month. At the end of the month, calculate the total amount you spent. You should organize your spending into two categories:
o Fixed expenses (expenses that you must pay each month), such as rent, car payments, heat, etc.
o Flexible expenses (expenses that change month to month), such as entertainment, clothing, food, etc.
Step 3: Subtract total expenses from total income.
* If you have money left over, consider saving it in a bank account
* If your expenses are greater than your income, you'll need to determine how you can reduce expenses or increase income.
* If you're in debt and can't seem to solve the problem, speak with a Financial Empowerment Center counselor.
5 Tips to Manage Money with Spending Smart
Here are five tips to help you stretch your dollars and even save them by spending wisely.
1. Make a shopping list and stick to it.
1. Make a shopping list and stick to it.
One of the top reasons why people overspend is because they don't have clear goals to guide them when entering stores. Make a shopping list of only what you need to buy and stick to it.
2.Avoid impulse purchases.
2.Avoid impulse purchases.
When you see something you "must have" that is not on your shopping list, pause for a moment and ask yourself if you really "need" the item. Think over any impulse purchase for at least two days to make sure you can afford it. If it is a purchase that requires a loan agreement, ask for a copy of the terms and conditions to review fully at home before signing anything. Newly released items have big price tags, but prices usually drop as time passes because trends and demand fade. By avoiding impulse purchases, you'll save money - either by not buying the item at all or buying it at a lower cost later on if you find that you really need it.
3. Shop at more than one store.
3. Shop at more than one store.
When you're in a store, you will be tempted to buy an item right there and then, but visit a few different stores to see if you can get a better deal. You may want to try carrying a notebook to jot down the prices to review and compare.
4. Buy quality products if you intend to use items for a long time.
4. Buy quality products if you intend to use items for a long time.
Even though quality products can come with a higher price tag, consider them a smart investment. You're paying a little more for something that will last longer. If you buy a lower quality item, you may need to replace it often - which can cost more than the higher quality item in the long run. Setting aside a little money each month can help you save enough to buy the quality item. If it is an item you think you will use only a few times, see if a friend or family member has it available for you to borrow.
For example, if you are on a softball team and play often, it's best to buy a quality glove versus a lower quality glove that might break apart easily. However, if you know your playing time will be limited, then borrow a glove or buy a cheaper one.
For example, if you are on a softball team and play often, it's best to buy a quality glove versus a lower quality glove that might break apart easily. However, if you know your playing time will be limited, then borrow a glove or buy a cheaper one.
5. Use coupons wisely
Coupons are a great way to save money, whether it's 15¢ off a shampoo you use or $20 off a $100 clothing purchase at your favorite store. The only catch is that you could be spending money on something you don't need just because you have a coupon. Check your shopping list to see if you need the item featured in a coupon before buying something that might break your budget.
How to Manage Finance
Financial Management is Planning, directing, monitoring, organizing, and controlling of the monetary resources of an organization.
1. Planning
Basic management function involving formulation of one or more detailed plans to achieve optimum balance of needs or demands with the available resources.
The planning process (1) identifies the goals or objectives to be achieved, (2) formulates strategies to achieve them, (3) arranges or creates the means required, and (4) implements, directs, and monitors all steps in their proper sequence.
2. Directing
Management function that includes building an effective work climate and creating opportunity for motivation, supervising, scheduling, and disciplining.
3. Monitoring
Supervising activities in progress to ensure they are on-course and on-schedule in meeting the objectives and performance targets.
4. Organizing
a. Arranging several elements into a purposeful sequential or spatial (or both) order or structure.
b. Assembling required resources to attain organizational objectives.
5. Controlling
Management function of (1) establishing benchmarks or standards, (2) comparing actual performance against them, and (3) taking corrective action, if required.
6. Monetary Resources
Economic or productive factor required to accomplish an activity, or as means to undertake an enterprise and achieve desired outcome. Three most basic resources are land, labor, and capital; other resources include energy, entrepreneurship, information, know how, management, and time.
1. Planning
Basic management function involving formulation of one or more detailed plans to achieve optimum balance of needs or demands with the available resources.
The planning process (1) identifies the goals or objectives to be achieved, (2) formulates strategies to achieve them, (3) arranges or creates the means required, and (4) implements, directs, and monitors all steps in their proper sequence.
2. Directing
Management function that includes building an effective work climate and creating opportunity for motivation, supervising, scheduling, and disciplining.
3. Monitoring
Supervising activities in progress to ensure they are on-course and on-schedule in meeting the objectives and performance targets.
4. Organizing
a. Arranging several elements into a purposeful sequential or spatial (or both) order or structure.
b. Assembling required resources to attain organizational objectives.
5. Controlling
Management function of (1) establishing benchmarks or standards, (2) comparing actual performance against them, and (3) taking corrective action, if required.
6. Monetary Resources
Economic or productive factor required to accomplish an activity, or as means to undertake an enterprise and achieve desired outcome. Three most basic resources are land, labor, and capital; other resources include energy, entrepreneurship, information, know how, management, and time.
What is HOT MONEY ?
1. General: Alternative term for discretionary income.
Discretionary income is portion of an entity's income available for saving, or spending on non-essentials. It is what remains after expenses for basics (such as food, clothing, shelter, utilities) and prior commitments (such as school fees and loans) are deducted from the disposable income. Total amount of discretionary income in an economy is a key indicator of the level of possible economic growth and is the target of all commercial advertising.
2. International finance: Extremely volatile short-term capital that moves on a short notice to any country providing better returns. Powerful speculators can quickly pump massive sums into a high-yield economy, giving it an artificial aura of success and propriety. But, on a mere suspicion of a downturn or other negative factor, they can (and do) withdraw it almost overnight causing a near collapse of the country's financial structure.
3. Local finance: Money obtained through illegal means such as drug trafficking. Also called dirty money (money that needs money laundering for it to be used in normal business transactions).
Discretionary income is portion of an entity's income available for saving, or spending on non-essentials. It is what remains after expenses for basics (such as food, clothing, shelter, utilities) and prior commitments (such as school fees and loans) are deducted from the disposable income. Total amount of discretionary income in an economy is a key indicator of the level of possible economic growth and is the target of all commercial advertising.
2. International finance: Extremely volatile short-term capital that moves on a short notice to any country providing better returns. Powerful speculators can quickly pump massive sums into a high-yield economy, giving it an artificial aura of success and propriety. But, on a mere suspicion of a downturn or other negative factor, they can (and do) withdraw it almost overnight causing a near collapse of the country's financial structure.
3. Local finance: Money obtained through illegal means such as drug trafficking. Also called dirty money (money that needs money laundering for it to be used in normal business transactions).
What is INVESTMENT ?
Investment is money committed or property acquired for future income, also trade off between risk and reward while aiming for incremental gain and preservation of the invested amountprincipal. Incontrast, speculation aims at high gain or heavy loss and gambling at out of proportion gain or total loss. Two main classes investment are :
1. Fixed income investment such as bonds, fixed deposits, preference shares.
2. Variable income investment such as business ownership (equities), property ownership. In ecomnomics, investment means creations of capital or goods capable of producing other goods or services. Expenditure on educationhealth is recognized as an investment in human capital, and research and development in intelectual capital. Return on investment (ROI) is a key measure of a firms's performance.
1. Investment Analysis
Examination and assessment of economic and market trends, earnings prospects, earnings ratios, and various other indicators and factors to determine suitable investment strategies.
2. Investment Income
Capital gains, dividends, interest, and rent generated by investment, and not by trading activities. Also called unearned income, investment income is generally taxable.
3. Investment Instruments
Alternative term for financing instrument (document such as a share certificate, promissory note, or bond, used as means to acquire equity capital or loan capital.)
4. Investment Project
Long-term allocation of funds (with or without recourse to the project's sponsor) to carry an investment idea through to its stable-income generation stage. A viable investment project aims at achieving a profitable return that ensures (1) timely payment of interest and principal, (2) attractive return on the invested capital, and (3) positive and consistent cash flows
5. Investment Property
Asset purchased and held primarily for its future appreciation or income, such as collectibles, land, securities, works of art.
6. Investment Recovery
Alternative term for asset recovery (selling off or disposing off obsolete, scrap, surplus, or waste goods or material in a manner that maximizes the return while minimizing the costs and liabilities.)
1. Fixed income investment such as bonds, fixed deposits, preference shares.
2. Variable income investment such as business ownership (equities), property ownership. In ecomnomics, investment means creations of capital or goods capable of producing other goods or services. Expenditure on educationhealth is recognized as an investment in human capital, and research and development in intelectual capital. Return on investment (ROI) is a key measure of a firms's performance.
1. Investment Analysis
Examination and assessment of economic and market trends, earnings prospects, earnings ratios, and various other indicators and factors to determine suitable investment strategies.
2. Investment Income
Capital gains, dividends, interest, and rent generated by investment, and not by trading activities. Also called unearned income, investment income is generally taxable.
3. Investment Instruments
Alternative term for financing instrument (document such as a share certificate, promissory note, or bond, used as means to acquire equity capital or loan capital.)
4. Investment Project
Long-term allocation of funds (with or without recourse to the project's sponsor) to carry an investment idea through to its stable-income generation stage. A viable investment project aims at achieving a profitable return that ensures (1) timely payment of interest and principal, (2) attractive return on the invested capital, and (3) positive and consistent cash flows
5. Investment Property
Asset purchased and held primarily for its future appreciation or income, such as collectibles, land, securities, works of art.
6. Investment Recovery
Alternative term for asset recovery (selling off or disposing off obsolete, scrap, surplus, or waste goods or material in a manner that maximizes the return while minimizing the costs and liabilities.)
What Is MONEY ?
WHAT IS MONEY ?
Anything of value thas serves as generally accepted medium of financial exchange, legal tender for repayment of debt, standard of value, unit of accounting measure, and means to save or store purchasing power. In common usage : cash.
1. Money at Call
Alternative term for loan (such as an overdraft) with or without a fixed maturity date, but which can be recalled anytime (often on a 24 hour notice) by the lender and must be paid in full on the date of demand. Also, the borrower can pay off a demand loan at any time without incurring early payment penalties. Also called call loan or money at call.
2. Money Illusion
Belief that monye (specifically, a currency) represent a constant value.
Curency is tokens used as money in a country. In addition to the metal coins and paper bank notes, modern currency also includes checks drawn on bank accounts, money orders, travelers checks, and will soon include electronic money or digital cash.
3. Money Market Account (MMA)
Special savings-account which pays fluctuating interest rate that, on average, is higher than the interest rate on ordinary savings accounts. However, a certain minium credit balance must be maintained in an MMA , and only a limited number of checks can be written on it in a month although, usually, there is no limit on transfer of funds over the bank's counter or through automated teller machines (ATM). An MMA balance is covered under deposit insurance like an ordinary savings account balance.
4. Money Market Certificate (MMC)
US non-negotiable certificate of deposit (CD) with a minimum denomination of $2,500 and minimum original maturity of seven days, paying an interest rate set by the issuing financial institution.
5. Money Market Instruments
Short-term (Usually one year or less, often used to refer to bonds or loans. opposite of long-term.), high grade (low risk) financial instruments such as bankers' acceptance, certificates of deposit (CDs), commercial paper, and treasury bills.
6. Money Market Investment
Short-term (typical maturity is less than one year), highly liquid government or corporate debt instrument (such as bankers' acceptance, promissory notes, treasury bills) traded in money markets.
7.Money Market Fund (MMF)
Alternative term for money market mutual fund (MMF).
Open ended mutual fund that invests in highly liquid short-term financial instruments (with maturities typically 90 days to less than one year) such as negotiable certificates of deposit (CDs), commercial paper, and treasury bills; and pays money market account (MMA) rates of interest. MMFs differ from other mutual funds in that their market value remains constant at $1 per share, only the interest rate paid by them fluctuates. They also offer check writing privileges, but are not protected under the deposit insurance schemes. Also called money market mutual fund.
8. Money Market Rate
Interest rate on money market instruments.
Annual cost of credit or debt-capital computed as the percentage ratio of interest to the principal. Each bank can determine its own interest rate on loans but, in practice, local rates are about the same from bank to bank. In general, interest rates rise in times of inflation, greater demand for credit, tight money supply, or due to higher reserve requirements for banks. A rise in interest rates for any reason tends to dampen business activity (because credit becomes more expensive) and the stockmarket (because investors can get better returns from bank deposits or newly issued bonds than from buying shares).
Anything of value thas serves as generally accepted medium of financial exchange, legal tender for repayment of debt, standard of value, unit of accounting measure, and means to save or store purchasing power. In common usage : cash.
1. Money at Call
Alternative term for loan (such as an overdraft) with or without a fixed maturity date, but which can be recalled anytime (often on a 24 hour notice) by the lender and must be paid in full on the date of demand. Also, the borrower can pay off a demand loan at any time without incurring early payment penalties. Also called call loan or money at call.
2. Money Illusion
Belief that monye (specifically, a currency) represent a constant value.
Curency is tokens used as money in a country. In addition to the metal coins and paper bank notes, modern currency also includes checks drawn on bank accounts, money orders, travelers checks, and will soon include electronic money or digital cash.
3. Money Market Account (MMA)
Special savings-account which pays fluctuating interest rate that, on average, is higher than the interest rate on ordinary savings accounts. However, a certain minium credit balance must be maintained in an MMA , and only a limited number of checks can be written on it in a month although, usually, there is no limit on transfer of funds over the bank's counter or through automated teller machines (ATM). An MMA balance is covered under deposit insurance like an ordinary savings account balance.
4. Money Market Certificate (MMC)
US non-negotiable certificate of deposit (CD) with a minimum denomination of $2,500 and minimum original maturity of seven days, paying an interest rate set by the issuing financial institution.
5. Money Market Instruments
Short-term (Usually one year or less, often used to refer to bonds or loans. opposite of long-term.), high grade (low risk) financial instruments such as bankers' acceptance, certificates of deposit (CDs), commercial paper, and treasury bills.
6. Money Market Investment
Short-term (typical maturity is less than one year), highly liquid government or corporate debt instrument (such as bankers' acceptance, promissory notes, treasury bills) traded in money markets.
7.Money Market Fund (MMF)
Alternative term for money market mutual fund (MMF).
Open ended mutual fund that invests in highly liquid short-term financial instruments (with maturities typically 90 days to less than one year) such as negotiable certificates of deposit (CDs), commercial paper, and treasury bills; and pays money market account (MMA) rates of interest. MMFs differ from other mutual funds in that their market value remains constant at $1 per share, only the interest rate paid by them fluctuates. They also offer check writing privileges, but are not protected under the deposit insurance schemes. Also called money market mutual fund.
8. Money Market Rate
Interest rate on money market instruments.
Annual cost of credit or debt-capital computed as the percentage ratio of interest to the principal. Each bank can determine its own interest rate on loans but, in practice, local rates are about the same from bank to bank. In general, interest rates rise in times of inflation, greater demand for credit, tight money supply, or due to higher reserve requirements for banks. A rise in interest rates for any reason tends to dampen business activity (because credit becomes more expensive) and the stockmarket (because investors can get better returns from bank deposits or newly issued bonds than from buying shares).
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