Getting Out Of Debt » Personal Finance

How To Make Money From Unused Office Space

GettingOutOfDebt — Fri, 05 Mar 2010 02:25:06 +0000

There are a lot of businesses who are not using up all the office space they have available to them which can be a waste of money. If you have any unused space in your office you can actually make some money from this. Sometimes small businesses need somewhere to house a desk and chair etc but find renting an office just too expensive. That is why sharing office space with other businesses has become so popular.

You can make use of the unoccupied space in your office and make some money from it at the same time. But you must be careful to price your office space appropriately. Renting out your office space has to be an attractive option for others. A small business will want to get a better price for renting space from you than what they would pay elsewhere for an entire office.

By providing other facilities such as the use of office equipment like photocopiers, fax machines or printers, you can charge a little extra. The use of phone lines and internet will have to be charged extra too. The best way to do this is to charge the smaller business for the calls they make etc.

Some thought will also have to go into where the person who rents space from you is situated. It would not be appropriate for you to situate them right in the middle of your staff as they will want to have some privacy to run their own business. You will want to make sure that everyone in the office is happy with the arrangements.

You will also have to make sure that your office can adequately cope with the provision of toilet and tea and coffee making facilities. So before you decide to go ahead with renting out space you should consider these things first.

No matter what business you have, office space for your admin work is essential. Depending on what part of the world you live in, this could be easier said than done. If you live in the Midlands of the United Kingdom, for example, you could look for office space nottingham.

The boring stuff – This article is user submitted and does not reflect the views of this website. This article is educational only and should not be taken as financial advice. To learn more about this topic, please follow the links provided by author the in the article. Links that introduce interesting products to you should be considered advertisements. Some of these links may be of a commercial nature and clicking on them may generate a financial benefit to this website.

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Technorati Tags: office, office space, Offices, rent office space

4 Good Quality Printers For The Office

Advantages of Christian Debt Counseling

GettingOutOfDebt — Fri, 12 Feb 2010 11:53:37 +0000

Christian debt counseling services are offered by various companies that claim to apply Christian principles in advising consumers and in negotiating with creditors. It would indeed be very helpful for the borrower because having a substantial amount of debt is not only about the financial burden but also carries with it some degree of shame and guilt. Christian debt counseling may help in relieving the stress but it is also important to make sure that the company that you are dealing with is really what it claims itself to be. A check with the Better Business Bureau may still be in order to avoid becoming the victim of fraudsters claiming to be Christians.

Christian debt counseling services may help a lot in reducing your monthly payments, bringing down your interest rates, and eliminating any late penalty charges and over -the-limit fees if they are indeed above board. They would be capable of transacting with the creditors for the reduction of interest rates and your monthly payments. They may also negotiate with the finance companies for the elimination of penalties that they usually apply when you are over-the-limit or when you are late in your payments.

A trained credit counselor of the Christian debt counseling company will examine the history of the borrower’s budget, payments and debt. The counselor will develop a repayment schedule that ensures that the monthly payments are affordable for the borrower. And for those with several loans carrying high interest rates, the service provider will look for a consolidation loan that will replace all of these debts. The consolidation loan may either be unsecured or secured but the secured type has the benefit of having a lower interest rate and should be used if the borrower owns a property, such as a home, that can be used as collateral. However, the potential problem is that the borrower may lose his or her home in case of a default, although this would be unlikely if proper debt management practices are followed.

The Christian debt counseling company may also negotiate for a debt settlement if the amount of outstanding debt is substantial. The decrease in the amount to be paid may be as large as 60 percent for service providers that are well-experienced and for certain situations. This is a well-known strategy for settling debt because of the large amount of savings that the debtor can enjoy and because the process of becoming debt-free will also be faster. The creditors will usually agree to the huge discount if they know that the consumer is in a position to legitimately file for bankruptcy. For information on this topic visit http://thedebtanalyst.com.

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Technorati Tags: best debt reduction, credit card reduction, debt reduction, eliminate debt, reduce credit card debt

Debt Reduction Worksheet – A Tool for Getting Out of Debt

GettingOutOfDebt — Fri, 12 Feb 2010 11:40:14 +0000

A debt reduction worksheet can assist consumers when they are striving to get out of debt and once again be in control of their finances. It is a good idea to put this worksheet in a place where you can easily look at it so that you can easily make changes to it and check your progress as against your plan to decrease your debts.

If you want to create your own kind of debt reduction worksheet or debt reduction spreadsheet if you will, a good place to begin is by indicating the total amount of money that is coming in after the payment of taxes. You will then list your various expenses in a column right next to your net income and these will include utilities bills, mortgage payments, fuel expenses, insurance premiums, school fees, grocery expenses, Internet costs, day-care costs, telephone bills, cable television charges, restaurant expenses and others. And in an adjacent column, you will input the payments that you make for various debts, such as auto loans, personal loans, payday loans, store cards, credit cards and other debts. Obtaining the total amounts for your debt payments and your total expenses will give you a clearer picture about the seriousness of your financial situation. You can easily see that you are in serious trouble if your total expenses are larger than your net income.

After creating your initial debt reduction worksheet, it may be advisable to check the various things that you have in your home. Maybe, you have a gigantic TV set, a luxury automobile or other assets that may even have been partially responsible for the situation that you are now in. It may be time to sell your luxury car and buy a less expensive model, or to sell your television set and get a cheaper one. By selling several of your assets, you may be able to substantially reduce your monthly debt payments and this will make it much easier for you to get out of debt. Think of the interest payments that you will be able to save if you start selling these unnecessary items.

Another way to reduce the total debt repayments indicated on your debt reduction worksheet is to contact your creditors and request for a reduction of charges. Make sure that you inform them about your present financial dilemma and petition for a reduction in the different charges, such as penalties and interests. You can also attempt to obtain debt consolidation loan that will drastically bring down the amount of interest for your loans. You may also need to find other sources of income to increase your capacity to repay the loans. For more interesting tidbits such as these stop by http://TheDebtAnalyst.com

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Technorati Tags: debt reduction spreadsheet, debt reduction worksheet, do it yourself debt reduction

Techniques for Reducing Credit Card Debt

GettingOutOfDebt — Fri, 12 Feb 2010 11:39:53 +0000

Credit card debt is a common problem that plagues many people. This is often thought of as a trap and that it is very hard to escape from it because of the interest and penalty charges that accumulate month after month. In addition to the increasing amount to be paid, the credit card company also reports late payments to the credit rating agencies, thereby reducing the borrower’s credit score. This in turn will make it harder for the debtor to obtain other kinds of loans that often have lower interest rates. Thus, here are some techniques for reducing credit card debt that will serve as aids in your struggle to escape this debt trap.

When reducing credit card debt, the first step is to determine exactly the amount that you owe the creditors. You will need to gather all of your credit cards and list them down, including the interest rates and the outstanding balances. Get the sum of the balances and you will know how much you owe. Then, you can contact the various credit card companies to ask for a reduction in the interest rates. Your credit score will strongly influence your creditor’s decision on whether to consent to your request but there are other factors and it would not hurt to try. If you are successful, ask for a written confirmation of the lowered interest rate and then make the necessary adjustments in your list.

As the next process in reducing credit card debt, you will then create a budget where you will strive to minimize certain expenses. Target unnecessary expenses but you may want to gradually bring down your expenses on these particular items because it will be easier to adjust your lifestyle bit by bit. With more money left as a result of the cut backs, you can decide on how to pay off the credit card debt. The usual strategy is to focus on the card with the highest interest rate while paying the minimum amounts for the others. This will continue until the first card is entirely paid off and you move on to the card with second highest interest rate and so on until all cards are paid off.

The next step in reducing credit card debt is to refrain from using the cards unless it is necessary. However, do not cancel them because this will lower your credit score. Remember to check on your progress from time to time and to assure yourself that it takes perseverance and patience to escape the debt trap. For non profit credit card consolidation stop by thedebtanalyst.com

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Technorati Tags: best debt reduction, credit card reduction, debt reduction, eliminate debt, reduce credit card debt

Find The Right Asset Manager

GettingOutOfDebt — Fri, 12 Feb 2010 11:37:29 +0000

You can work all you would like but with the high costs of living and the rising prices, your savings may not be enough to last you until your retirement. to have a secure future, you want to manage your money right and make sure that the money will earn by itself. Sadly, asset management is not something that most people are particularly robust in. In fact, folks today are frequently in difficulty due to credit card debts. Only a few know the way to save their hard-earned money and but even they don’t know a way to make their money grow.

Asset management is something that is frequently done by folks who are already gurus in money trade. They’re the ones who know when to invest and where to invest so that your money will last for a long while. There are companies that specifically provide these kinds of services to people especially to big companies who seek to grow their money. Asset management companies regularly deal with people who have amassed lots of money but do not know what to do with it. For a pro fee or sometimes for a percentage of commission, they will invest your money in property, in stocks and in bonds.

The general public [, however ,] aren’t happy with the idea of other people handling their finances. In fact, some will not even let others know that they have amassed such a fortune. But keeping the money in banks won’t make it grow. It’ll only stay stagnant and rendered valueless in time because of rising inflation rates. When you actually focus on the task, you will find someone who can manage your money honestly. These are some recommendations on how to find that person.

Ask for referrals.

The best way to look for folks who you can have faith in is to ask folks you trust to refer people whom they trust. That way, you can be sure that who you are hiring has been in a way established by folk whose judgment you respect.

A good person to talk to for this is maybe your parents or in laws who have probably employed people years back to control their retirement funds. You may also ask folk whose portfolio you admire. Even your boss in the office can be an excellent source of information.

Diversify

An alternate way to make sure that your money is well-taken cared of is to spread the money to two asset management people. Don’t put all your financial eggs in one basket. This way, you can be sure that if one will have a problem, the other will still be there as an insurance.

Research

But do not depend on referrals and opinions of folks. Even the best judge of characters will also screw up. Before hiring the person, look him over and do some background check on him. Research on his employment history and if feasible talk to his prior bosses and also present ones. Invite him for dinner or set up a meeting with him. That way, you can talk to him or her. Here you will be able to determine if you instinctively like the person. Sometimes the tummy feel is also important.

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Technorati Tags: asset management, asset management company, asset management fund, asset management software, asset management tool, asset manager, digital asset management, global asset management

Credit Management Services Can Be a Life-Saver

Six Ways to Save Money Very Easily

GettingOutOfDebt — Fri, 12 Feb 2010 11:37:07 +0000

Start saving today

Financial experts today recommend having at least six months of living expenses squirreled away in a savings account to help you cope with an unexpected change in your financial situation. However, if you already have to pinch pennies just to make ends meet, coming up with amount might sound impossible. It takes time and discipline, but it’s certainly possible. Consider some of following tips to help get you started.

Coupons, coupons, coupons

For years, coupon-clipping moms were mocked in the media for their penny-pinching ways. Today, though, the media have come flocking back, asking for their money saving tips! You too can take a page from their books and start saving money with the coupons that you find online or in local publications. Remember the golden rule of clipping coupons – only clip them for stuff you’ll actually use. Saving $ 10 on a case of baby food isn’t a great deal if you don’t have any children!

Switch to home brew

You’ve probably heard this one before — trading the Starbucks habit for a home-brewed cup of Joe — but for some reason, it’s a budgetary step that few people are willing to take. Try it this way. A cup of coffee at Starbucks can run up to $ 4, which adds up to over $ 1,000 a year if you drink 5 cups a week. Home brewed coffee, or brewing at the office, costs only a fraction of that, which puts more money in your pocket.

Take advantage of free events

Just because you’re on a budget doesn’t mean you have to cut all of the fun out of your life. Plenty of museums, colleges, and other organizations offer free events that are open to the public, including everything from art gallery openings to free cake-tastings to book readings. Check your local newspaper or community website to find out more about free events in your area.

Split an entrée

When you go out to eat, opt to share an entrée with your dining companion instead of ordering separate dishes. The posrtions served by most restaurants are enough to feed two people well, saving money and cutting calories.

Round down at the bank

Some banks offer a service that rounds deposits down to the nearest dollar and re-routes the remaining change into a separate checking account. Say if you were to deposit a check for $ 85.12 into a qualified account, your bank would put $ 85 into checking and the remainder of $ .12 into your savings account. Even if your bank doesn’t offer this service, you can follow this practice yourself by dividing your checks into separate checking and saving amounts.

Right-size your service bills

When was the last time you looked at your monthly cell phone bill? Have you checked since you opened the account? If you haven’t, it’s time to take a peek – you could be overpaying for a plan that includes more minutes than you need. Take a critical look at your cable and interent bills as well. If you’re already paying for premium services you don’t need, cut them and put the extra funds towards savings.

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Technorati Tags: Financial experts, save money, savings account, unexpected change

Look After Your Car And Save Money

Know The Best Trading Strategy

GettingOutOfDebt — Sat, 30 Jan 2010 05:55:20 +0000

How Important Is Trade Entry?

Before I teach you the best trading strategy I’m going to share with you the worst trading strategy of all time. There are a million and one strategies that can be applied to all aspects of trading. I’m going to share with you what I consider to be one of the worst if you consider yourself as a trader, as part of the trading rules.

You must be wondering why I would want to spend time illustrating the worst trading strategy around. It’s simple. By showing you how it works (or, in this case, doesn’t work), I hope to show you clearly what not to do while encouraging you to do the exact opposite.

To Average Down is to throw your money right down the drain and most possibly the worst trading strategy of all time

Too bad, for the beginner, averaging down seems quite logical but it is fundamentally flawed. Many people have become stuck in its claws and have lost substantial amounts of money because of its apparent logic. Do not be one of them!

Averaging down is the process of buying more and more units of a falling stock in a desperate attempt to recoup your losses and reduce your effective buy price. When you look at it closely, it’s really just throwing good money after bad.

The mental state behind this type of strategy is denial. People believe they can reduce their initial entry price by continuing to buy more as the stock’s price falls away. It’s the modus operandi of distressed traders, traders in a panic. As a strategy it is hardly ever effective. To make matters worst, you’ll magnify your losses if the stock keeps dropping.

Please understand, just because it’s cheap now does not mean it’s not going to get any cheaper.

Here’s how this strategy works in action. Let’s say you bought 2,000 shares at . Step one, don’t have an initial stop in place. Step two, watch the price fall to and do nothing. Here comes the stupidity of this strategy – step three, buy another 2,000 units at to lower the average cost per unit already purchased. Your average cost per unit would now be .

It gets even worse. Price may fall even further and the novice trader will again buy more units to reduce the effective average cost per unit. The effect is such that he buys more and more into a stock that’s losing his money.

Now, try to imagine this strategy being applied to a portfolio of stocks. What ends up happening is that all your trading capital is allocated to the worse performing stocks in the portfolio. The result is, at best, a disastrous underperformance versus the market.

If a trader averages down and he is using margin, then you can only imagine this would magnify those losses even further. The effects can be devastating. So, hear me now: never average down.

The best trading strategy works the exact opposite. To maximise profits you should put your money into compounding successful stocks. That’s trading risk management.

Absorb some lessons from admired trader Marty Schwartz and take heed of his advice: “I’m more concerned about controlling the downside. Learn to take the losses. The most important thing about making money is not to let your losses get out of hand.” The best trading strategy recognizes that if you control the downside with comprehensive money management then profits will be yours soon enough in the long run.

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Technorati Tags: Trading, trading risk management, trading rules

Currency Exchange vs Stocks: Which Is Better?

GettingOutOfDebt — Sat, 30 Jan 2010 05:55:18 +0000

Many traders are now taking a look at foreign exchange vs stocks, wondering if it may be worth making a move or at least accelerating their range so that they begin to trade both. Even successful investors should think about expanding and traders who are fighting may benefit significantly from making the switch. Here we compare foreign exchange vs stocks and consider some of the advantages of currency trading.

Two Way Market

When you’re trading stocks, you are limited to purchasing a stock that you think will rise and then selling it. Foreign exchange is always an exchange: in order to buy one currency you should concurrently sell another. You cannot buy US dollars with US dollars. So you are often dealing in a currency pair, and this means that you can open a trade in either direction. As with stocks you can buy the pair (actually, buy the base currency) if you think that the value of the base currency relative to the quote currency will rise, but you can also do it the other way around. That is, you can start by selling the pair (selling the base currency to buy the quote currency) if you suspect that its worth will fall.

Trading Hours

Trading opens on Monday morning in Australia (Sun. evening US time) and does not close until Fri. afternoon in the States. So forex is a twenty-four hour market, five days a week. This can be advantageous for anybody who wants to trade outside of standard business hours in their own country. While hopeful stock trading is difficult if you can’t access the internet during the day, you can always trade in currency in the evening.

Smaller Account Balance And Higher Leverage

currency exchange brokers will routinely permit leverage of 200:1 or more, so you can control a much bigger position with a smaller account balance. This also gives foreign exchange brokers a chance to allow traders to start with a lower investment. While a regular currency exchange account often carries a minimum investment of $10,000 or more like a stock broker account, it is possible to open a mini currency exchange account with only a few hundred bucks. So traders can get started for a very low investment.

The forex market is getting so much airtime that it is worth looking into for all retail stock traders. Open up a demo currency trading account so that you can test out your systems on the currency market without risk and look into forex vs stocks for yourself.

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Technorati Tags: finance, forex, forex trading, Investing, money, stocks, traders

Top Stock Market Tips And Guidelines

GettingOutOfDebt — Sat, 30 Jan 2010 05:55:17 +0000

Free Trading Seminar: The Rule of "V"

Two well known traders discuss entry and exit points and stock market tips are discussed. They also answer a question about how to find good momentum trades.

David: We have been asked a question concerning entry points. ‘Every entry I make, the trade seems to go against me. I’ve tried every indicator known to man and different timeframes. I’ve tried other people’s systems and they don’t work either.’

Stuart: It’s fairly often not the entry that’s at fault. Often it’s the exit that’s at fault. We may be using an inappropriate exit and not allowing the conditions that got us into the trade work their magic and do what we want them to do for us in the trade.

Maybe the entry is too complicated and perhaps they were changing it or shifting it because it was too complicated. Ditch the indicators. They’ll work for some people and that’s fine. My personal opinion is to ditch them because they don’t provide much for me. Keep things simple for profitable trading, and it may be worth looking at the exits more than the entries.

David: Next question: out of the thousands of stocks that are out there, how do I pick a few that have moved with a chance of high probability each day every day without scrolling through each one.

Stuart: You’ve got to know a way to narrow them down. I remember this when I started out. There are two thousand stocks on the ASX and I only want four or five to get going. How do I narrow it down to four or five? I think the easiest way, and one of the best stock market tips, is to get software that allows you to input you own entry criteria, the conditions you want to see in stocks. Software and PCs now does it within minutes or seconds and presents you with a small list for you to then assess yourself each chart by itself.

What you need is a software which allows you not just to bring up the chart, but to go through data, perform calculations and identify your own criteria.

David: If you do not have access to charting software, come up with a trading method that is calculated, based on some data you might find in newspapers. Some newspapers will mark which stocks are making new six month highs or fifty-two week highs. That might be a way to thin the thousands of stocks to a few. But get yourself a charting package.

Stuart and I use Metastock, but there are plenty out there, and start with that.

For the next question is how to find good momentum trades.

Stuart: Find stocks that are already in well established trends. I do that all the time. I just buy things that have gone through that period of consolidation and have now started to move up. Look for higher peaks, higher troughs, sitting above their medium term moving average whether it be 30, 50, 60 day moving average and showing the capacity and the potential to keep moving higher. With a fifty week high, clearly this stock has an upside, because with a fifty two week high there must be great demand for this stock. This is the simple way of doing that.

David: The next question is about entry and exits – what is a good stop? For entry, have a methodology to identify what’s going up. Exit points – choose an appropriate one. For good stops, you can use percentage, ATR or technical and the lowest low.

Look out for appropriate entry and exit points and buy some software to sort out the best stocks to buy. These are the best stock market tips for any beginner trader.

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3. Trading the FX market.
4. A penny stock list.

Technorati Tags: business, finance, Trading, trading and profit

Manage Your Money In The Coming Year

GettingOutOfDebt — Sat, 30 Jan 2010 05:55:16 +0000

Are you one of the millions of people around the world who make New Year’s resolutions? Most of us do, even if we don’t give it a name, e.g. “next year I am going to…”, “next year I will…” or “things will be different next year”.A great and productive new years resolution for you is to want to manage your money through better financial planning.

If you really want to change your situation, you have to take action, as this will not get done if you just sit around wishing it to happen.Even though you might have the best intentions at heart, your situation will not just change, you have to do something about it!

Making a commitment to getting qualified advice and establishing an effective financial plan – one that is perfect for your situation – will be one of the most important decisions you will ever make. It will affect your current and future lifestyle, and that of your family.

Financial Planning Advisers

Once you have made the commitment to better managing your money for the New Year, your first action step is to identify a good financial planner. Getting good advice is vital. Don’t rely on your bank staff, brother or neighbour to give you informed, impartial advice. Seek out an independent, qualified adviser who has a proven track record – don’t be afraid to ask them for references.

They will:
Have a wide understanding of the tax, estate law and investments involved
* Be able to coordinate with other professionals, e.g. accountant, lawyer, insurance agent
* Have the correct accreditation, and be a member of the appropriate association
* Be up to date with current laws and regulations
Be trustworthy, and treat you and your ideas with respect

Invest In Your Future

Don’t look for a bargain-basement solution. Treat your New Year financial planning goal as an investment.Look for the best consultant you can afford, as a good consultant will make sure you have a plan to meet your goals, and correctly manage your finances. You get what you pay for. So choose the best that you can afford.

Your consultant will need to examine your current financial situation, figure out what you may need in the future, and devise a strategy to meet your goals, e.g. home or investment property purchase, children’s education, retirement.

Establishing a time horizon, a timeline for meeting your objectives, is one of the easy to understand techniques that is often employed by good financial planners. Being able to visualise and plot your progress is very rewarding.

It is not required for you to be rich in order to obtain advice from a professional planner. In fact the simpler your current situation, and goals, the more flexibility you will have and the easier it will be to ensure managing your money for the New Year will successful.

Some interesting stuff -
1. A credit repair Book.
2. Start an eBay business.
3. Trading the FX market.
4. A penny stock list.

Technorati Tags: look after your finances, manage your finances, manage your money, new year's resolution