Author Archive
3 Ways To Save For A Rainy Day
February 1, 2011 | 
Author People are generally pretty good at saving for specific items or experiences. Say, for example, you want to save enough money for a down-payment on a house. You put certain strategies into action, cut back on certain other expenses and slowly build your way up to that figure you had been aiming for. Sure, it takes time and effort and a few missed dinners at fancy restaurants, but the tangible reward at the end, coupled with the defined amount of money you’re shooting for, make the process one that most people can manage sooner or later. Saving for unspecified events or that looming ‘rainy day’ we all fear, is another thing entirely. While people know they should save for a rainy day, they’re generally far more preoccupied with splashing out and having fun in the sun, so to speak. While it’s not fun to think about, the feeling of security that comes from knowing you have funds in reserve for unplanned events like house or car repairs, illness or that terrifying moment when your computer hard drive gives up the ghost is something that we all should aim for. Your accountant or financial advisor can help you find more individually-catered saving solutions, but here are three tips to get you started and help you get that rainy day fund up, up and away!
Posted in money, saving money | 
Tags: accountant, rainy day, save money, saving money tips | 
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5 Tips on Saving on Utilities Around the Home
Sometimes we may be saving money when we don’t think we are, and other times we may think we are being frugal and it is actually costing us a lot more money. Many appliances especially some of the larger power consuming products like washing machines, and other white goods in our homes have radically changed. Other engineering elements in our home have also improved greatly, and continue to change rapidly, and therefore we need to stay informed to have the correct logic for us to be able to make money saving decisions. Our utilities cover 3 main areas, gas, water and electricity. Here are 5 tips to saving on your utilities around your home…
- Newer appliances. Back in the day it might have been appropriate to keep older appliances for longer periods of time. Do you have friends or family who have the same oven and kettle for the past 20 years? And they believe they are being frugal. The reality is older appliances consume much larger amounts of power than their modern counterparts. You will use enormous amounts of power with an older oven than a modern convection oven for example. The amount of extra power you use in a year might be more than the cost of a new oven. This is a very good example of where people are spending way more while they THINK they are being frugal.
Posted in saving money | Tags: appliances, dishwashers, Refrigerators, saving electricity bill tips, saving money tips, Washing Machines | No Comments »
5 Advantages of Buying Second Hand Cars Privately
There are reasons why second hand car dealers have a bad reputation – because too many people have been burnt in the past. With all of the modern day facilities available to us, from being able to uncover truths in car history and car service, we can ensure a good purchase when we are buying privately. Here are some of the advantages of buying a second hand car privately.
- Price. This must be the single most reason why anyone would want to buy a second hand car privately. You will always find the price of privately sold cars considerably cheaper than that of a dealer. The reasons are very simple. The private seller is not running a business out to make profits. The private seller does not have all the other expenses such as staff, workshop, warranties and utilities. These are considerable costs to any professional car sales company. Are those extra costs costing you way too much when you purchase your vehicle.
- Variety. The fact is that most used car sales companies only have certain types of cars. Most of them will have cars for the larger market. If you are looking for particular car types and if you are interested in buying modified cars, you will find much more variety and range available in the private market.
How to Keep Efficient Records
Over the last few years the jobs of accountants have become a little easier as the Taxation Office has allowed self assessing tax returns. Whilst this has meant easier and faster processing, there has also become a greater need to keep accurate records.
Taxpayers need to be able to prove how the figures on their tax return were calculated and, if necessary, provide documentation proving their case.
What this means of course is that every taxpayer needs to pay careful attention to their tax return and to maintain proper records in the event of a query from the Taxation Office. Without proper written evidence you may have your claim disallowed and end up having to pay extra tax.
Here are some pointers on keeping efficient records:
Posted in budgeting | Tags: accountants, accounting firms, corporate records, tax accountants, tax agent | No Comments »
Playing to your strengths when investing and borrowing
It’s an interesting reflection on human nature that while most borrowers are careful and wary during the initial borrowing process, many seem to lose track during the period of their loans, and instead of being an asset and a help, the loan becomes a problem. Even short term loans, which are usually smaller loans requiring less maintenance, can become issues. One of the most common problems is that when borrowing people lack the knowledge base and skills to effectively administer their loans.
Is Filing for Bankruptcy the Best Solution for Small Businesses?
Filing for bankruptcy is something that no small business owner aspires to and, as the declaration of bankruptcy is irrevocable, it should really only be a last resort for small businesses. It is recommended that small businesses seek sound advice regarding their options for liquidation, including voluntary liquidation. But, when a small business is in trouble, an owner cannot help but wonder: Will filing for bankruptcy put an end to my financial problems?
A common understanding of bankruptcy is the state of financial insolvency in an individual or business. When a person is not able to reach a formal or informal agreement to repay debts owed to creditors, one of the options available is to proceed with declaring bankruptcy.
Best Ideas For Financial Services And Accounting Training
The starting point for any financial services and accounting training is finding a good business school. Having done this you are assuring yourself a solid foundation in finance and in business. Well trained finance professionals are essential, as accounting is the backbone to every business within the private, public and government sectors. It is therefore crucial you receive the best financial services and accounting training that will equip you with the right skills and knowledge to help you be successful in the business world.
Training Essentials
Any training you undertake needs to help you understand the basic accounting fundamentals. By gaining knowledge in accounting theory and practice you will go on to learn how data is used within organisations for maximum financial benefit. This information will lead you to understand the vital job that you will play in any business and will highlight the importance of a well delivered and informative course.
All good business people will be proficient in accounting and financial matters as it infiltrates all elements of an organisation. Your training needs to be progressive as the business world is forever changing and also needs to be relevant on a global level. Accounting training should cover all facets of business within both large and small companies. A good accountant or employee within financial services is crucial to the function of any business and the quality of training you receive will be reflected in everything you do within your career.
Basic training in accounting will lead to good management skills and help you advance within a company. You will find that through good accounting and financial services training you will become a better business person and a valuable member of staff.
Staying in the safety zone with your car loan
A car loan can be a true dead weight, if it’s not managed correctly. In most cases where car loans are problems, there are a few avoidable issues which can be managed in advance. The risk is a bruised credit rating, if things go wrong, so it’s a good idea to make sure you’ve got yourself well positioned before taking on the commitments.
Car loan number crunching
With a car loan, you may be looking at a large total outlay over time. All good lenders will advise you to keep a safety margin in your budget. Any loan which is too close to your budget limit when you add up your expenses is too expensive.
The budget limit is when you’re paying more than about 60- 70% of your income as a total outlay per month. You must have spare money available, with any kind of loan. If the loan takes you over this threshold, you may have problems.
Remember also: