Month : October 2015

Business

Why Should You Get Quick Merchant Cash Advance for Your Business?

No matter how big or small your business is, you can sense the need of emergency fund at any point of time. However, business owners often find it very difficult to get a source from where they can avail the fund required for their business and most of time they become helpless.

A merchant fund advance can be the best option one should opt for in such a situation, as it allows a business owner to access cash in quick time. However, the most important thing about the merchant fund is that it is easy to obtain and there will be no need to submit the report of your financial health or credit history. In this article, you will have a closer insight into the concept of merchant fund and you will be able to know how it helps your business to grow.

Why You Should Prefer Merchant Fund

If you have found your business capital much lower than what you need to run your business operation quickly and do not want to follow strict terms and conditions of a traditional business loan, then you should prefer merchant fund that will allow you to access instant cash in a friendly way. Here are some notable advantages of merchant cash advance.

  • There is no need to submit a stellar credit history
  • It is cash-flow-friendly
  • You will not have to write checks, as the remittances are automatic
  • You can avoid fixed monthly payment in tough times and there will be no set maturity date in the process
  • It is easy and faster than availing a traditional loan

How Merchant Cash Advance Can Help Your Business

If you are trying to avail fund to set up a new business or developing your existing one, the option of incurring merchant fund will definitely help you in achieving your target. Here are the situations, where merchant fund can help you a lot.

Buying Equipments

You may need to buy or replace several types of equipment such as computers, telephones, machinery or vehicles to keep your business operational. However, if you do not have sufficient fund to purchase important equipment, you can apply for a merchant fund advance for instant cash flow with friendly terms and conditions.

Covering Payroll of Your Employees

It is not possible for your business to make a profit in every month of a year or you may find that your customers have not made credit payments cleared yet. However, whatever the condition is, you still have to pay your employees, otherwise, you may find them less productive.

In such a situation, you can opt for a plan from merchant fund that will help you in covering payroll for your employees.

Help to Promote Your Business Efficiently

In order to expand your business and your customer base, you will have to promote your business efficiently, which is an expensive process. However, by taking the advantage of business fund advance, you can cover all the costs of advertising conveniently.

Meeting Tax Obligations

If you are running a business, you will have to be well aware of the taxation process. No matter whether your business is making profit or loss, you will have to pay tax at the end of the year. However, if you have not prepared any plan for tax yet, then you should approach for merchant fund that can help you in meeting the tax obligations and avoiding penalties.

However, a merchant fund advance is not a type of traditional loan. In this process, the fund provider deducts a certain amount of cash from future debit and credit card sales of your business with discount.

Author Bio – Jonathan Rodrigo is a financial advisor, working for a reputed financial institution. Apart from this profession, the author independently writes blogs on capital management including merchant cash advance.

Employment

How to Ask for a Raise in a Tough Economy

When the economy seems to be stalled, and many businesses are struggling to simply keep their doors open, asking for a raise can feel greedy, unfair — or even feel like a bad career move.

The truth is, though, that most businesses are interested in keeping their best employees on board and happy, and if that means adding a little extra to their paychecks, then they will find a way; however many managers won’t offer a raise “just because” or before your annual review. That means you have to advocate for yourself, and ask for what you deserve. Before you rush into your boss’ office and demand more money, keep these tips in mind. 

Do Your Research

When there is more month than money on a regular basis, it’s easy to believe that you are underpaid. Do some research before you ask for a raise. What are people in similar positions in your industry earning? Do they have the same level of experience and education? Someone with a masters degree in human resource management, for example, is probably going to earn more than someone who only holds a bachelor’s degree.

At the same time, just because the average salary for your job is a few thousand dollars per year more than what you earn doesn’t mean that you’re automatically entitled to that amount. The size and financial condition of your employer, and where you live can make a big difference. Someone working in midtown Manhattan, for example, is probably going to earn more than someone doing a similar job in rural Maine. If you determine that your salary is lower than average, though, you have one piece of the puzzle for requesting a raise.

Make a Case

First of all, you need to have a solid track record of performance before you can ask for a raise. In general, you should be in your position for at least a year before you start requesting more money.

However, simply showing up isn’t enough to warrant a salary increase. Be prepared to present solid evidence that you deserve more money. Create a document that highlights your achievements and shows how you’ve met — and exceeded — your boss’s expectations. You need to remind your boss of the value that you bring to the organization, and what she stands to lose if you take your talents elsewhere.

Ask at the Right Time

If your company has recently announced a round of cost-cutting measures, it’s not the best time to go looking for more money. Before you schedule your appointment, assess your company’s financial position. If you aren’t sure of your company’s financial position, proceed with caution; if you make a reasonable request and have the evidence to back it up, your boss is likely to understand your request even if she can’t comply.

Prepare to Negotiate

There’s always a chance that your boss will decline to give you a raise, even if the company can afford it. Instead of scurrying back to your desk embarrassed, ask your boss for a plan that will help you earn an increase. For example, she may suggest that earning a management masters degree will improve your prospects.

And if you can’t get your boss to pay you more money, see if you can negotiate other benefits in place of a bigger paycheck. If your company can’t afford to pay you more, perhaps you can work from home a few days a week or take an extra week’s vacation this year. If you are valuable to the company, your employer is likely to make concessions to keep you on board.

During times of economic uncertainty, asking for a raise might feel unwise — some would argue that you should be grateful to have a job, no matter how much it pays; however, it is not unreasonable to expect to be paid what you’re worth, and sometimes you need to ask for that.

About the Author: Career expert Julie Bernson writes about work, money and career development for a number of publications. She holds a Master’s in Human Resources and teaches undergraduate classes at her local community college.

Image provided by Stefano Valle from Flickr’s Creative Commons http://www.flickr.com/photos/switch75/6516529571/sizes/m/in/photostream/

Money Management

Make Your Money Work For You

sleep pick

In order to get out of the cycle of being financially poor, you need to make your money work for you instead of you working for it. One of the ways to do this is by having your money earn interest instead of just sitting in your bank account like a mooch on your couch. You want to make sure as much of your money is working as possible.

Checking Account

One of the best things you can do is to make your main account earn interest. There are several places you can use to make this happen.

If you go to CheckingFinder.com you can compare different high interest checking accounts that can pay up to 4-5%. There are requirements though, like you have to use your debit card 10-12 times a month and setup a direct deposit among other things. Also, the high interest usually only applies up to a balance of $20,000…if you have that much.

I will be doing this for sure when I live without roommates. Currently I’m with Bank of America, as well are my roommates, and it’s free to transfer between accounts. I transfer several times a month to a couple of different people so this is a convenience that keeps me there at the moment. But when I’m gone, I’m going the route of high interest checking. Another benefit is ATM fees are usually refunded at the end of each month, so it’s free to withdrawal from any ATM.

Savings Account

You could use the high interest checking to hold your savings but there’s no way to separate your savings from your regular money if you keep it all in one account. If you think you can then by all means do it but for those that want to separate the two I’d open up a high interest savings account. These days the interest is only 1-2%. There’s not that much difference between companies so be sure to find one that fits your needs.

I use and recommend ING for savings. It has a competitive interest rate and no fee, but what keeps me there is the ability to open multiple subaccounts and name them different things. It makes saving for goals so much easier.

Investment Account

One of the best investment vehicles is an employer 401k. Most companies that offer this as a benefit will match up to a certain percent of your income that you put in. For instance, I put in 6% of my income and my employer matches up to 4% completely and half of the next 2%. So if my pay check is $1,000, I put $60 in and my employer will put in $50. That’s $50 of free money. There’s no easier way to maximize your money. If you’re not at least putting in as much as your employer match you are missing out on free money.

If you don’t make your money work for you no one’s going to do it for you. Take charge of your life and make a change for the better.

How do you make your money work for you?

Frugality

How Far Do You Go To Be Frugal?

coffee

I was reading this article on Readers Digest about the lengths some people go to be frugal. I’m pretty frugal if I do say so myself, but I don’t do half the things those people do. I just tend to choose the cheaper alternative to something like Netflix to going out to the movies. If something is frugal but it makes me feel weird (in a bad way) I definitely wouldn’t do it. Doing the thing in this part of the article would make me feel weird for sure.

For instance, before interviewing several dozen cheapskates, I had no idea that there are legions of people who keep an empty McDonald’s coffee cup in the car. That way, they can run in and get a “refill” anytime they spy a golden arch.
Janet Hinz has a dad who’s one of them. An ethics professor in Whitefish Bay, Wisconsin, Hinz uses him as an example with her students: Yes, she posits, McDonald’s does offer free refills, but for life? And how about people who go to the pizza parlor and empty the red pepper flakes into a napkin to take home (another trait of Papa Hinz), along with most of the rest of the napkins? Is that ethical? Do you ever take an extra napkin, or two, or 20? she asks her students. Where do you draw the line?

It’s just hard to believe that some people go to these lengths to be frugal. I just want to know what the thought process is when you do those things. I’d imagine it something like this “What’s one cup of coffee. They sell millions of them.” And I could agree with them but if everyone thought like that then they wouldn’t be selling coffee anymore. I think it’s stealing but I can understand being able to justify it.

I’ll admit I used to sneak into movies with friends when I was younger. My thought process was “I’m not actually taking anything and if i didn’t sneak in I probably wouldn’t go to the movie anyway.” Was it wrong? Of course, but I could justify to myself so it wasn’t wrong to me. I would never do it now since I’m more aware of the consequences.

Have you ever done anything over the top to be frugal?

Passion

We Do Not Think About This Enough

Through life we make choices that define us. We make these choices based on our experiences and where we are in life.

If we’re not selfish, we think about how our choices will effect our loved ones. If we are selfish then we’ll think about how the choices affect us.

For 99.9% of the decisions we make in life don’t ever take in the fact that we are going to die.

Now here me out before you say I’m being a downer.

I’m not talking about being scared of death, far from it.

I’m talking about acknowledging that we aren’t here forever and living a fulfilling life is more important than living a life full of things we think we have to do.

The big example I like to bring up is work.

Is it necessary to work a job all day away from your family? You may say yes but is it really?

What is more important, spending time away from your family so that you can buy them a big house with a big TV and a bunch of video games? Or a modest house with more time spent together as a family?

If you remember that one day you won’t be there to make money for your family to have all of the finer things in life, then maybe we can change our attitude about how we make choices.

Set a date when you are going to die. I’m going to die in 50 years, so that’s how long I have to accomplish everything I’ve ever wanted to do.

Am I going to waste 35 of my most fruitful years in a job I don’t want to wake up for?

No!

I can go through life waking up in the morning, having some coffee and maybe reading the paper, head to work, come back home, eat dinner, watch TV, go to sleep.

It is possible to do that. But do you want to look back over your life and wish that you made a different decision in life and changed up your routine everyday?

Habit and routine have an unbelievable power to waste and destroy.

~Henri de Lubac

Is it possible to do that? Is it possible not to work all day? Hell yea.

Is it easy to get to that point? No! But it is possible and it doesn’t take a lifetime to learn.

All it takes is for you to always remember that you won’t be here one day. So what are you doing today to ensure that you have no regrets when you’re on your death bed?

Make life count, you only have one!

Do you think having death on your mind would affect your decisions in life?