Month : April 2012

Book Reviews

Should I Buy This Book? Review: The Automatic Millionaire

The Automatic Millionaire I tend to be very short when I talk, so that’s how I’m planning to make my book reviews. They’re going to be short and sweet and to the point. I’m not here to sell it to you, I’m just here to tell you if it should be added to your personal finance arsenal.

The bases of The Automatic Millionaire is to automatically deduct money either from your paycheck or from your bank account.

The book covers making automatic:

  • Retirement
  • Savings
  • Emergency Fund
  • Mortgage Payment
  • Getting Out of Debt
  • Tithing

The Negative

The only thing I didn’t like about the book was the beginning of the chapter on mortgages. The author really tries to sell you on homeownership being better than renting. He doesn’t bring in all of the factors that affect the total you pay for a house. He leaves out the fact you have to pay taxes, insurance, and maintenance. Those factors can lead to a lot of extra expense.

I do believe homeownership is great but only for the intangibles of a house, for example: Stability, Freedom, etc. I wouldn’t buy a house and think of it as an investment.

The Positive

It does a great job selling you on making everything automatic and I would recommend all of the steps given to do that. It tells you each step to take to become an automatic millionaire. I believe that it’s a lot easier to save when you don’t have to think about it all of the time. This book gets that point across and tells you how. It also does a great job of guiding you to get out of debt. Pretty much the whole book is a positive and it really motivates you to save money in one way or another.

Would I buy it?

Absolutely, and I did. This is a book you should own to help build your foundation of personal finance knowledge.

Buy It

I’m putting the new and used links up because I prefer to buy used to save money, so I thought I’d pass it on.

The Automatic Millionaire New

The Automatic Millionaire Used

P.S. Some of the links in this post I earn a little bit of money from, in order to pay my bills. But I promise to never to intentionally lead you to a bad company and to never let the money affect my opinion.

Have you read The Automatic Millionaire? How did you like the book?

Guest Post

Business Cash Flow Problems: Have You Considered Factoring?

It isn’t only individual consumers who are experiencing money problems at the moment as a great number of UK businesses are also dealing with an interruption in cash flow. Altogether too many businesses have invoices sitting on the books which have gone unpaid and this is a real problem when it comes to having enough money on hand for day to day operations.

The latest news from the BoE isn’t good as the UK has been plunged into a double-dip recession, even if ever so slightly. Unfortunately, a recession by any other name is still a recession and businesses are suffering the consequences of it just as individual workers are. What’s to be done about it? Actually, there are several avenues a viable business can explore but first it needs to be determined if, indeed, a business is viable.

If it is simply a matter of collecting on unpaid debts, then it probably is. At this point, factoring may be a great solution as it solves several problems at once. Basically, factoring is ‘borrowing’ money against the books (unpaid debts owed a company) and placing those debts in the hands of the lender or the lender’s agent. Now it is no longer the responsibility of your accounting department to waste precious hours trying to collect as that becomes the job of the factoring agent.

Keep in mind that factoring isn’t an option for all companies so it is imperative to seek reputable professional guidance. There may be other options available such as asset finance but an experienced business recovery organization should have the potential to find the best solution for your company at the current moment. Don’t sit back and wait to go bust when help is out there. You may be ‘cash poor’ at the moment, but that doesn’t mean you need to call it quits.

Bio: Real Business Recovery is a team of highly skilled and motivated professionals who are registered with R3 and will always seek to advise the best business recovery solution or solutions for your company.

This is a guest post

Guest Post

Freelancers of Today are the Bill Gates of Tomorrow

Times are tough everywhere, but some places have been hit harder than others. Jobs have been cut, wages frozen and businesses are winding up by the day. For some this may mean financial ruin but for those with a ‘can do’ attitude and a set of skills, it is possible to take an idea to heights never before imagined. Just look at the where Bill Gates is today and to think it all began with a concept and a garage.

The point is, don’t get discouraged if you have been made redundant because of cuts in the company you have been working for these past several years. Their loss can be turned around to your gain. After all, you have a set of skills, a good mind and a motivating drive – survival! However, don’t let that be the limit of your ambition. You may have an immediate goal of finding work as a freelancer, but set long term goals as well.

Too many workers from both the public and the private sector begin to despair when they have been to interview after interview without finding a new job. Despair can be your ultimate downfall and remember; it doesn’t take much to set your sights on higher grounds. If you are tired of answering to someone else’s rules and know that it was your expertise and insights that kept a company going, use that to your advantage.

Freelancers of today really can be the Steve Jobs and Bill Gates of tomorrow. It takes having a vision, motivation to succeed and some good old fashioned hard work. There are no promises that your business will be an overnight success, but with the proper attitude, sound business principals and a good accountant, you can make your mark in the world of commerce by taking the first step as a freelancer.

Bio: The Nixon Williams team of specialist contractor accountants offer comprehensive accountancy services to freelancers, contractors and interim managers throughout the UK. 

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Guest Post

When You Are at the End of Your Financial Rope

Being in debt is no laughing matter. It seems the bills just keep piling in and some people are left with nothing. Is there something that can be done? In some cases there is. However in others there is not much left to work with. Debt Free Me offers people who are ravished with debt advice and solutions to their problems. Depending on how far in debt you’ve sunk, there may be options open to you. Some people have no choice but to turn to bankruptcy or IVAs. The key is figuring out which group you fall into.

When should you contact debtfreeme? You should contact them the moment you feel you need advice on which route to take where your financial affairs are concerned. If you debt is piling up and you have no idea what you are going to do then this is the perfect time to act. Many people find themselves feeling more like crawling under a rock than dealing with their debt. This is perfectly natural but it is certainly not the answer. Taking care of your debts whilst they are still somewhat manageable is the most proactive step you can take.

A lot of people find themselves too embarrassed to seek the guidance of a skilled professional debt consultant. No one should ever feel that way as they are surely not alone. There are millions of people out there who cannot pay their bills and as a result have fallen into severe debt. Whilst one person may think his/her debt is overwhelming, there is more than likely someone else out there who’s circumstances are even worse. Make a move in the right direction before you’ve reached the point of no return. It’s never a good idea to wait until it is too late to seek a solid plan where your unpaid debt is concerned.

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Guest Post

Office Space: Flexible Terms

Many businesses looking for new office space want flexible terms for a number of reasons. Sometimes they are in the midst of having new buildings constructed and simply need a place to carry on operations in the interim whilst other times they are not sure how much space will be needed. Other businesses want to know if they are located in the right area of the city before committing to long-term leases and then there are others yet that aren’t quite sure exactly what they are looking for.

Official Space has a number of offices not only in London but throughout the UK and no matter where you are looking to locate, there is an office that is perfect for your needs. Some offices are let on short-term leases while other landlords require a commitment for at least one year. There are so many types of leases available that it is even possible to find an assortment of offices which can be rented month to month.

One of the prime areas to rent an office is in London, of course, since it is the centre of commerce for a huge number of businesses, private and public. Whether a business is domestic or an international firm looking for Central London office space, it is easy to fit a business with an office because of the wide selection available.

Although a good number of businesses are looking for flexible leases in case their business should flourish, necessitating expansion, an equal number are hesitant to commit to longer terms because of the uncertainty in the market at any given time. In any case, this should never be a problem since there are literally hundreds, if not thousands, of offices available on flexible terms.

This is a guest post