bookmark_borderFinding a Suitable Pharmacy Loan

Create a Suitable Due Diligence/Business Plan and Budget

As with any large financial decision you will make, it is extremely important that you work out your budget. You should look at your overall financial position, before you start seeking finance and this means:

  • Establishing a suitable due diligence/business plan;
  • Establishing a suitable budget, whereby you prepare a list of all your assets as well as your expenses and out-goings. You can do this by using a Budget Planner calculator; and
  • Calculating how much you may be able to borrow by using a Borrowing Power calculator.

Arrange for Pre-Approved Pharmacy Loan

You should arrange for pre-approved pharmacy loan as it will give you the peace of mind knowing that:

  • You will have the upper hand when negotiating the sale price of the pharmacy practice with the vendor, real estate agent, etc.
  • You will have a clear picture of what the affordability and borrowing limits are;
  • Your loan request has already been pre-approved by the lender/credit provider; and
  • You will know the conditions of your pre-approval.

bookmark_borderChoosing Credit Card Carefully

Always report any fraudulent charges that you notice on your cards as soon as possible. By doing this, you can help your card company catch the thief who is making these unauthorized charges. This will also allow you to be sure that you aren’t responsible for the charges they made. Any charges that you did not make need to be reported to your company with a phone call or a high priority email.

In order to maintain a solid score, always pay your balances by the due date. Paying late can rack up expensive fees, and hurt your score. Setting up an automatic payment schedule with your card company or bank can save you time and money.

In order to keep a good rating, be sure to pay your bills on time. Avoid interest charges by picking a card that has a grace period. Then you can pay the entire balance that is due each month. If you cannot pay the full amount, pick a card that has the lowest interest rate available.

If you have any cards that you have not used in the past six months, then it would probably be a good idea to close out those accounts. If a thief gets his hands on them, you may not notice for a while, because you are not likely to go looking at the balance to those cards.

When signing card receipts in stores, don’t leave blank spaces. If the receipt includes a tip line and you aren’t leaving a tip, draw a line in the tip space. If you do not you take the chance of an employee writing in an amount themselves. When your monthly statement arrives, compare the charges with your receipts to ensure that everything matches.

Be aware that there are credit card scams out there as well. Many of those predatory companies prey on people that have less than stellar credit. Some fraudulent companies for example will offer credit cards for a fee. When you send in the money, they send you applications to fill out instead of a new credit card.

Don’t open too many credit card accounts. A single person only needs two or three in his or her name, in order to get a good credit established. More credit cards than this, could actually do more damage than good to your score. Also, having multiple accounts is harder to keep track of and harder to remember to pay on time.

Make sure you save your statements. Before you file them away, pay close attention to what is on them as well. If you see a charge that shouldn’t be on there, dispute the charge. All credit card companies have dispute procedures in place to assist you with fraudulent charges that may occur.

If you pay your credit card bill with a check each month, make sure you send that check out as soon as you get your bill so that you avoid any finance charges or late payment fees. This is good practice and will help you create a good payment history too.

It is easy to underestimate how much you owe on your credit card if you use it frequently at restaurants and grocery stores. This is because those charges can take longer to appear on your credit card statement, and so you think you have spent less than you actually have. This can lead to you spending more money since you will have the perception that your balance is actually lower than it is.

Never transfer your credit card numbers via a fax. Faxes are sometimes not picked up as soon as they are received, which gives many people ample opportunity to get at the information. Any random person with access to these areas could steal your identity. This will create a ton of problems.

Be careful when you are signing up with secured credit card companies because a lot of them charge high fees in exchange for issuing you a card. If you have to get this type of card, then you should shop around to make sure that you are paying the lowest fees.

Check with your credit card company to see if they will reduce the annual percentage rate on your card, particularly if you have solid credit. In many cases, they’ll be more than willing to oblige. Any reduction in interest rate can really add up to huge savings for you in the long run.

How do you feel now? Are you still scared? If so, it is time to continue your credit education. If that fear has passed, pat yourself on the back. You have educated and prepared yourself in a responsible manner.

bookmark_borderGive the Gift of Financial Literacy

A healthy savings habit is the gift that keeps on giving. All of life’s major money milestones – whether it’s for a down payment, starting a new business, or a long period of unemployment- require having cash in the bank. For your children, the feeling of being able to tackle challenges like these without parental support is both extremely liberating and a memory they will pass onto future generations. Although everyone’s situation is different, a good rule of thumb for those starting out is to put 10% of total income toward long-term goals (like retirement) and 10% toward short-term goals (like the emergency fund or a house down payment.) To help ensure success, we recommend having these savings deductions automatically withdrawn from a paycheck into separate accounts each month. We find that it’s much easier to not spend if you don’t see the money. And for those who’re receiving holiday bonuses for the first time, save at least 50% for the future. We promise that this practice will have you remembering the holidays in a positive light for years down the road.

Every year on TV we see the Grinch who tries to ruin Christmas. But for twenty-somethings, he’s going by a different name this year – debt. As a parent you’ve known for a while that there’s no such things as free money, but this is a new concept for young adults. Tour guides don’t discuss loan repayment strategies on the campus tour and credit card companies don’t emphasize their high interest rates while they tempt kids with free t-shirts on the Quad. Credit cards are one of the best ways to help establish good credit. They can also come with great perks, travel benefits and discounts. But, all of these “benefits” are only helpful if these cards are used responsibly. If you’re comfortable, help your child open their first credit card, but discuss with them the importance of paying it off in full each month. Show them how incredibly high the interest rates are on these cards – higher than the return any investment or savings account will ever earn them. We recommend starting with a low credit limit ($500 or less) for the first year or so while they grow accustomed to paying off the card each month. If your student was one of those kids that picked up one of those free t-shirt/credit card combos, but doesn’t remember what happened to either, it also would be a good idea to check out their credit report. This report will give you the details on the card, as well as help you monitor for fraud or identity theft. Although there are many online sites that will show you your credit report, there’s only one site, annualcreditreport.com, that’s authorized by the federal government to show your credit reports from all three reporting agencies each year.

bookmark_borderAdvantages of Collecting Rent Online

Controls management costs

Collecting rent online reduces property management expenses. This allows you to cut down on operation costs, and lets property management fees remain low, which is definitely an advantage for property owners.

Improves customer service

Instead of collecting and processing paper checks, your team can spend more time focusing on their marketing efforts and improving the relations with the residents.

Lessens past due accounts

Since there are different online payment options – such as PaypPal, eCheck and credit card – there will be a considerable reduction in late payments. In addition, mobile alerts that remind the residents that the rent is due, or when the due date is drawing near, usually prompts an immediate payment when your system is mobile device optimized.

Adds more security

Paying rent online gets rid of the risks involved with cash payments. Moreover, your insurance company is more likely to reduce your coverage when you do not maintain cash on-site.

Makes dispute resolutions easier and makes an audit track

Online rent payments generate a digital paper trail. If ever a resident claims that he/she paid online, you can check the system at once to confirm or refute the claim. With a fully incorporated property management software package, you can update owner statements, evaluate late fees and automatically trail split payments. The processing of rent payments and owner disbursements are more secure since sensitive personal info is never compromised. Your accounting group can just click to get a snapshot of those who have or have not paid to allow well-informed financial resolutions.

bookmark_borderAbout Payment Gateway and Credit Card Processing

While the whole process of swiping the card takes not more than a few seconds, there are quite a few factors which affect the money transfer process. So choosing a proper processor is a must to make the complete process secure and fast. It should also be hassle free without any hidden charges or any other fees. Payment processing speed and security could be a deal breaker with the customer if it is not up to the mark. Accepting credit card is not enough, you should also look for a merchant account services. A few payment processing companies have a high merchant account rate but provide mediocre merchant services.

A proper Credit Card processor provides support to every aspect of your business starting from merchant account processing by providing you with merchant processing account. The processing of credit cards and debit cards with a fast response from both the front-end and backend is the key to a proper business merchant processing. The charges may vary according to the payment gateway, but you can find yourself relieved of the hassles you otherwise had to take. They take care of the details of cards along many devices like mobile device, POS, etc., and verify the data according the card holders name. The transfer request is sent almost immediately for crediting the same amount to the merchant’s account.

These companies are already developing their commitment towards the security of transfers. Even the small businesses are relying more on the cashless transaction, thus the small business merchant support is also being provided by many such processors. They accept credit card payments and process them taking utmost care to provide security and speed.

To assure the merchant of the security and speed of the processing, the companies are engaging their efforts in making the payment gateway more encrypted. Thus any chances of forgery or hacking are obliterated. With the latest 128-bit SSL algorithm, only the merchant and customer have the right to know the required part of the transaction, I. e. PIN number or identification number on the part of customer and another PIN number for the merchant. This classified information provide the base of the secure mode of payment.

bookmark_borderGeneral Oversight On Loans

You must remember that there are people out there who are ready to fund business loan with you if you have a good credit score of 720 and up, a decent business plan and a stable income. What you must find out is if the business loans suit your business. There are multiple loan options in today’s market to finance your business. From the traditional lenders such as banks to alternate lenders such as angel funding, entrepreneurs are truly spoil for choice. Based on different types of requirements such as time period, size of business, interest rates etc. you are sure to find your perfect lender.

Again through the traditional lending option such as bank, you have more control of your business as compared to the alternate lending options such as venture capitalists and angel funding. Normally banks are interested only to the loan that you repay them back with the agreed interest. But venture capitalists or angle investors agree to pay the loan in share of profits, decision making and ownership of your business. Again getting loans from the banks can be cumbersome and lengthy. They not only verify your credentials and your business before granting you a loan but also look into your credit score, your credit history, your financial strength and other details, which frankly speaking takes quite a time as compared to angel funding or investors. They provide you loan in a greater amount based on your business plan and opportunity your business throws up in the future. They are more concerned about the profits your business is poised to bring in for them. There are also early repayment options without penalty in some loans, Bank loans provide tax benefits to the borrowers because the percentage that is used to repay loans from the profits are done away with. Traditional lenders have a competitive lower interest rates then others putting them on the top list of options for people looking for funding. Banks do have a long list of qualifications that one must qualify for a business loan and again they may not fund 100% of your business. Now that’s some headache!

Normally the risk of loss is borne by the company which is an altogether separate entity when the loan is lent to a corporate entity. If the business fails normally the Normally the personal collateral are not attached but then some banks may attach your personal assets as means of collateral in order to secure their loans that they have lent out.

bookmark_borderLawsuit Loans

How a lawsuit loan works is that the applicants apply for it and if their applications are approved, then, they are sent the money the same day via overnight mail express. This is after they sign a contract with the lending company to pay back the amount of the loan along with compounded interest when they get their compensation from the defendants in the case.

There is no credit check which is required by the lending companies from the applicants for lawsuit loans. This is because the companies consider it to be both irrelevant as well as a waste of time as it does not help in the process of application for a lawsuit loan, instead it hurts it! There are many people who may get rejected because of a bad credit history and the company concerned may therefore lose potential customers with whom it could have been able to earn revenues!

If any of these individuals lose their lawsuit and are therefore unable to secure the recompense which they thought was their right, then they would be freed from all contractual obligations with the lending company. This means that they would no longer be required to pay any amount of money back to the company against the loan amount which they borrowed from it; the amount due from them would automatically become nil according to the terms and conditions of the lawsuit loan contract.

bookmark_borderEstablishing an Emergency Fund

Well, the truth is it can happen to any one of us so we have to get prepared. The second concern will be addressed in this discussion. Don’t underestimate your ability to save because in reality, you can start today to build a fund.

Experience being the great teacher that it is put a focus on setting aside money while you are employed for the proverbial “rainy day”. The recommendation is three months of fixed and variable expenses if:

  • You are single with a second source of income
  • You are married and both of you work with a similar income or
  • You are married and only one spouse works but you have a second source of income (income property for example)

What is a second source of income?

  • Alimony (if it is significant I.e. not just a few hundred dollars)
  • You are the beneficiary of a large trust fund
  • You consider yourself “financially well off” I.e. you have substantial investment income and/or other income coming in each month

If the above scenarios don’t apply then use six months as your emergency fund gauge.

Here are some things you can do to establish your emergency fund:

  1. Use a budgeting tool to figure out what your fixed and variable expenses are.
  2. Once you have a good handle on your expenses then determine if you need to multiply by 3 or 6 based on the information I discussed above.
  3. Open a separate account for your fund. Don’t mingle these funds with your day to day checking account, etc. I recommend using a tool like SaveDaily for this account because you can link it to your checking or savings account. You can have as little as $1.00 deducted and invested in your emergency account.
  4. Use systematic investing to build up your emergency account. It works like your 401(k). Again, taking a disciplined approach by having money automatically invested at different times during the month from your checking or money market account is a great way to start..
  5. Be disciplined and vigilant. Think of your emergency fund as untouchable except for those true emergencies like losing a job and/or unexpected healthcare expenses.

bookmark_borderReasons To Choose Credit Unions

Better Interest for Cards

According to information from the NCUA, last year’s average credit card interest rate was 12.85 percent at banks, versus 11.56 percent for credit cards issued from credit unions. This isn’t a huge difference, but less is always better when it comes to interest rates. Union cards also tended to have lower fees and fewer in general.

Easier to borrow

There is no need to await your loan status on tenterhooks since lending decisions are normally made locally, which means quicker turn-around time and more flexibility than loans with large corporations. Some can also offer signature loans to members who have good credit and standing.

Less chance of failure

Banks, insured by the Federal Deposit Insurance Corporation fail much more frequently than their counterparts. 44 FDIC insured institutions failed in 2011. That’s not to say credit unions have no chance of failing-9 NCUA insured institutions failed in the same year. However, there is much less chance of this happening since they are generally smaller and not as focused on profit. This means that they will loan less frequently and accept fewer risks

Lower loan rates

More often than not; these lending institutions can offer their customers lower loan rates. Last year, the National Credit Union Administration released information that confirmed that the average rate on a 36-month loan was about 2.85 percent. Compare that rate to an average 5.59 percent at banks, which is nearly twice the amount.

Run by customers

You can have confidence doing business with your credit union. Why, you ask? Because each member is also a partial owner, meaning they also have a stake in the success of the union. It is also managed and staffed by its customers on a volunteer basis. As a member, you even have the option to run for a seat on your union’s board of directors, which is not feasible at a bank.

bookmark_borderMoney and Inflation

Inflation is crafty in his theft. He doesn’t take all the power of your money at once; he bleeds it slowly and steadily, counting on a general naiveté of money, banking, and financial markets to prevent the call for his head. Inflation hides his theft in a snowstorm of official-looking reports and statistics.

Inflation is egalitarian in his theft. Whether a man has 10 dollars or 10 million dollars, he’ll take six cents out of each dollar this year. He taxes each man in direct proportion to the amount of money he holds.

In distributing that money, however, inflation is the lowest type of thief. He takes the 60 cents from the poor man and the 600,000 dollars from the rich man and gives it all to the rich man less a few pennies for administrative expenses. Even when the rich man pays the wages of the poor man, inflation has again stolen a little of its value by the time poor man gets his hands on it.

Who is inflation and where did he come from? In times gone by, inflation was born on a printing press and in the counting houses of kings. Today, with just a stroke of a pen and the clicking of a computer keyboard in a central bank he springs to life.

In simplest terms, inflation is too much money chasing too few goods. In more technical terms, inflation is the result of a total money supply that has become undocked from the total goods and services produced. He owes his entire existence to money masters who have convinced themselves that the process of moving money from hand to hand and around the world is too messy to happen without their meddling.

Who are these money masters? They are lonely, twisted practitioners of the dismal science of economics, confident in their ability to succeed in a task which is beyond the capability of any group of men. With religious fervor they hold tight to their beliefs despite thousands of years of failure, and each quarter proudly proclaim, “this time, we got it right.”

But, it is only by chance that they actually make a correct decision. You see, to truly succeed, they must divine what every man, woman, child, business, corporation, investor, fund, speculator, government, nation, group, and natural force will do today, tomorrow, next week, and on into the future. By its very definition this is an impossible task, but prognostication is only part of the job.

Once the money masters compile their assumptions about assumptions, they must attempt to guide their ship down a narrow channel bounded on one side by confidence in the money they create and destroy, and on the other side by investments they have made in the infamously ravenous governments of the world. Any errors in navigation will take months to detect and years to correct.

If the money masters of the central bank create money faster than the rate of growth of domestic production, prices for goods and services will rise and that money will flow to other nations to buy their less expensive goods. Deluged with a surplus of that currency, foreign monetary exchanges discount it, which inflates the prices of foreign goods in terms of that currency.

The impossible task of predicting how many computers will be sold, how many houses will be built, and how fruitful the farmer’s field will be is further complicated by a government that spends more than it takes in. If the government issues more bonds than the money masters predicted, the central bank has to purchase those excess bonds to protect its previous investments. The supposedly omniscient money masters have to create more money than they intended to pay for them.

If the poor man gets a raise next year, he may, again, be able to afford the goods he could earlier this year. If not, his standard of living is continually decreased. Meanwhile, the government spends the newly-created money with wealthier corporations and individuals, giving them the benefit of using the money before prices become inflated.