Online Credit Card Processing: The Minefield

Looking to find merchant services for your business?. This is often one of the most troublesome not to mention expensive aspects of getting your business up and running. Many of the leading merchant service companies charge hundreds of pounds setup and over 5% per transaction. And thats dependent on them approving your application.

There then many smaller company's that will do your online credit card processing. This is another minefield in itself since the choice is huge and in most cases you would never have heard of them. The best advice is to take a recommendation from friend or business colleague. My advice is the following.

Advantage Processors.com is a leading provider for the best possible rates for, Credit Card Processing and Merchant Account services is a leading provider for low-cost online internet credit card processing merchant accounts for both Low Risk and High Risk merchants.

Understanding Credit Report Basics

Your know what i mean if you've applied for a credit card, loanand been refused due to your credit report. This report is on file and is known as your personal credit report. Available to all financial providers, it is full of data and information on YOU, where you live, how you pay your bills, and whether you've been sued, arrested, or filed for bankruptcy.

Consumer reporting agencies then sell the information in your report to all types of creditors, insurers, employers, and other businesses who have or claim to have a legitimate need for it. This report and the information it contains is then used to evaluate financial product applications.

Having a good credit report now means it will be easier for you to get loans and lower interest rates when you need them. Lower interest rates usually translate into smaller monthly payments and thousands of dollars saved on your most important financial matters. To the financial institutions, employers, and insurers, having a BAD credit report means you are untrustworthy, unable to pay your bills, and just overall considered a financial "deadbeat". The fact is, sometimes in life bad things happen to good people, and our way of life should not have to suffer for 7 to 10 years because of it.

Spending Wisely at Christmas

Talk to any financial advisor and they'll tell you one of their busiest times of the year is the first 2 weeks of January, the time that the first credit card and charge card bills start to land on doorsteps and people realize the financial extent of thier Christmas giving and Christmas cheering. On average people spend 2 and half times a months salary on gifts, decorations and celebrations. Its the time of year that gift deals can be found and the most luxurious gifts are bought. Last year one of my clients told me how he bought a new dishwasher for each of his 3 sisters!, just because he saw a great deal and felt in a good mood. He spent the rest of the year paying off this credit card debt.

So my pre Christmas shopping advice, before it gets out of hand, is to think before you buy, go and compare prices on dishwashers if thats what your going to buy, think before you pull out the plastic because you will spend a long time regretting it.

The internet is full of shopping comparison sites so its worth spending some time researching before spending that hard earned cash.

Spending Wisely at Christmas

Talk to any financial advisor and they'll tell you one of their busiest times of the year is the first 2 weeks of January, the time that the first credit card and charge card bills start to land on doorsteps and people realize the financial extent of thier Christmas giving and Christmas cheering.  On average people spend 2 and half times a months salary on gifts, decorations and celebrations. Its the time of year that gift deals can be found and the most luxurious gifts are bought.  Last year one of my clients told me how he bought a new dishwasher for each of his 3 sisters!, just because he saw a great deal and felt in a good mood.  He spent the rest of the year paying off this credit card debt.

So my pre Christmas shopping advice, before it gets out of hand, is to think before you buy, go and compare prices on dishwashers if thats what your going to buy, think before you pull out the plastic because you will spend a long time regretting it.

The internet is full of shopping comparison sites so its worth spending some time researching before spending that hard earned cash.


Merry Christmas!

Organise Cashflow with Pay Day Loans

A good way to get cash quick is to take a loan backed by your wage cheque, something the industry calls Pay Day Loans. If your paycheck is late or if you need cash before your cheque is going to clear then this is a great way to release funds.


Most Pay Day Loan companies do not require credit cheques and often offer the service free of charge. Better than taking an actual loan, this system is a quick solution for a short term cash flow problem. Online payday loans and cash advances offer emergency cash until your next payday. It shouldn't matter what the money is for, quick, easy online check cashing service can provide the assistance you've been looking for.

Always ensure your long term cash flow is strong by maintaining a good monthly budgeting system, these loans are only ideal for short term problems.

Buying Gold Online

A new web service has recently launched for investors, where you can buy gold online, it is very different to most internet investment services. Sign up for an account and you can buy real physical gold at about a tenth of the cost associated with typical managed services, almost all of which deal only in intangible assets.

BullionVault.com is a revolutionary new way for individuals to buy and sell gold bullion online, in a selection international vaults - in London, New York or Switzerland. Gold has doubled in value over the past 5 years (though had a dip recently), as the world economy strains under the excessive printing of dollars, and other currencies. The gold you buy is always held in high-security Brinks vaults.

All client holdings are reconciled every day and published online. Gold is bought and sold using a live Market Order Board, trading at narrow spreads around real-time world spot gold market prices. You can buy and sell gold at your price, and get a bargain in the process.

Climb Your Way Out of Debt with Blogsvertise

If you write a blog, or have thought about it, or simply have something to say, then this service could be a nice pocket money earner for you.

www.blogvertise.com is an online content matching service for blog owners to earn money by placing targerted ads on thier site.

You may not pay off your mortgage but you could earn a few extra few pounds / dollars for those luxury items you shouldnt really buy!  By receiving all your payments via paypal its a convenient way to build an account of money to buy household / lifestyle items off eBay.

Its not just a cheap web service, its a very useful channel of income.

Save money on Pet Insurance

Many people I know have told me that the first cost saving item they action to reduce monthly expenditure is to cancel their pet insurance.  Often this is a policy that goes unused and at upto $50 per month can make quite a dent into the home budget.

Well, whilst I always support cost saving measures to balance the home budget there are some that may be a little too eager to save the bucks.  A pet is a member of the family and aside from the emotional loss if the worst occurs there is also the replacement cost.

My advice is always the same, and is the same with every insurance policy. Shop around. Many companies offer discounts for new pet policies.  Try MoreThan and then speak to your current insurance company and see what they will do to keep your business.

Remember a pet is for life, and a life is worth insuring.

Be well.

Mortgages at 5 times earnings

The British Banks are today beginning to offer customers mortgages at 5 times earnings.  Whilst this is an attempt to maintain growth in the housing sector (or more likely to prevent a crash) this is an option to be taken with care.

With property prices at record and rising levels it is becoming more and more difficult for UK citizens to get that foot on the property ladder.  The traditional 3 x salary is simply not enough to even cover the deposit in many situations.  This new offering allows more and more people to get that mortgage and self-saddle with debt.

The increasing trend for Interest Only Mortgages means people will at the end of the mortgage term need to find the entire capital to pay off the investment.  They and the government need to prevent a property slump at any cost to avoid thousand of people finding themselves in negative equity.  The solution... increase the problem and let later goverments deal with the fall out.

Take care if selecting this type of mortgage, it may be nice now, but you may regret it in the future.

UK ID Cards on their way....

According to the British Government, the planned ID cards will help reduce the £1.7billion identity fraud bill that costs Britain every year

Tony Blair today talked about a significant relaunch of the Government's crime strategy, including his passionate support for the controversial ID cards due to launch any year now.

The cards will include fingerprints, a digital facial and eye (iris) scan and could also be used to include personal information. The government is promising new measures to counter terrorism, organised crime, and anti-social behaviour.

Apply For Loads of Credit Cards...NO !

Applying for too many credit cards could risk your credit rating

It doesn't need a degree in mathematics. There are over 70 million credit cards in circulation in the UK with less than 35 million adults qualified to have a UK credit card. So, as an average, we each have over 2 credit cards in our wallet or purse. So long as you can repay your credit card debt, you may well be thinking that there's no danger. But the truth is slightly more alarming: over 2 million Britons risk damaging their credit rating be repeating applying for credit cards.

Applying for too many credit cards could risk your credit rating Despite the fact that, as an average, we each have over 2 credit cards, a report recently published by moneysupermarket found that 10 million credit card application have actually been refused by UK credit card issuers. While there many be any number of reasons why the UK credit card issuers declines to issue you with a credit card, three out of every four of us who have had a credit application declined will immediately apply for another credit card. Of these, 27% of all applications will be refused the second time.

While you may take some comfort from the fact that quite a large majority of us who have had a credit card application declined will be successful with our second application, the fact remains that each time we make a credit card application in the UK a record of that application is kept by UK credit rating agencies and these continued attempts to apply for a credit card are recorded as part of our credit rating. As a result, if we then want to apply for a loan or home mortgage, we may well find that our loan application or home mortgage application is refused because we have a bad credit rating.

And the reason why we have a bad credit rating has nothing to do with our ability to repay our loans and debts, but has everything to do with the fact that we keep applying for credit cards that are then turned down by the UK credit card issuer.

So, if your credit rating is a concern to you, and it should be, you should make sure that you do not keep making repeated applications for UK credit cards. Indeed, another double-whammy found in the moneysupermarket.com report was that only 17% of all credit applications approved on a second or third application had the same APR as the initial credit card application.
So, not only are you running the risk of damaging your chances of obtaining cheap loans and home mortgages in the future, but your immediate prospects of obtaining a credit card with the same APR as you had originally hoped to get are very likely going to be hurt if you continue to make repeat UK credit card applications.

Make Money : Buy to Let

It's 10 years exactly since funds were released on completion of the UKs first buy to let mortgage. We thought we'd use the anniversary as an opportunity to take stock and look at what has been a phenomenal success story for many a contractor who had harboured ambitions of becoming a property tycoon.

Traditionally those exit plans revolved almost exclusively around the equity markets and it was relatively rare for a contractor to own property other than the roof over his or her own head. It had not always been so however and until the 1970's there had been a vibrant private landlord sector in this country, largely made up of ordinary middle income investors.

With these new mortgage products, novice rental investors could raise finance to fund multiple purchases. The deposits required and interest rates paid were now far lower and by avoiding commercial funding, investors also side-stepped many of the hefty arrangement fees that the banks had previously been able to charge.

The Millionaire Contractor

Those who were quick to realise the potential of this readily available source of cheap finance snapped up property before prices soared and these original clients have been joined by massed ranks who have continued to prosper as fresh opportunities have arisen. Often the initial deposit on the first purchase has been raised by releasing capital from the existing home at low cost via a remortgage. Over the years we have helped numerous contractor clients become millionaires, some from a very low starting level of wealth. The majority of these millionaire landlords have stopped contracting to concentrate solely on what has become a business in its own right. Others continue to contract but very much on their own terms.

The key to successful investing


The key to investing is invariably to buy at a discount, in an up and coming area and to add initial value if at all possible by modernising. Rental yields must be comfortably in excess of mortgage repayments to avoid eating into profits but as ever more competitive mortgage rates come onto the market it is relatively easy to ensure that you can keep ahead of the game in this respect.

Many investors also take advantage of fixed rate schemes to secure their repayments ahead of expected interest rate hikes and unlike residential property ownership, which has not enjoyed tax breaks since the demise of MIRAS in the 1980s, the taxman is uncharacteristically generous in allowing you to offset these interest payments against your income tax on rentals.



The future for the rental market

Demographics point to a profitable long-term future for the buy to let investor. Massive immigration from Eastern Europe, changing lifestyles and an ageing population have all been instrumental in ensuring that the expected slowdown in property price inflation has not happened. The Nationwide Building Society index of house prices is showing an annual rate of growth at 8.2% which equates to a rise of £13000 in the value of the average house over the past 12 months. The rise in prices is ,in itself, powering the rental market as first time buyers accept that they must rent for longer whilst saving for the deposit on their new home.

Its therefore highly probable that the next potential Millionaire investor is already hatching his or her plans for a profitable future in buy to let.

Charitable Giving will Save you Tax

Millions of us give money to charity each year, but many do so haphazardly. We might fork out a couple of quid for a copy of The Big Issue or fling a few coppers in a collecting tin, but as National Giving Week kicks off on Monday, charities are urging us to donate more regularly in ways that allow them to squeeze every penny from our pledges.

One of the easiest ways to make a donation stretch further is to tick the Gift Aid box every time you give money. The Gift Aid scheme allows charities to reclaim the basic-rate tax on the money that you donate. For every pound you give, charities can recoup an additional 28p. Even better, the charity undertakes to do all the paperwork to claim back money from the taxman.

But it is not only charities that can benefit from tax breaks. Higher-rate taxpayers can also claim tax relief on donations made to charity. Alternatively, they can indicate on their self-assessment forms that they would like the tax refund to go directly to charity as a Gift Aid payment.

But there are limits to the taxman's largesse. Revenue & Customs insists that those who claim Gift Aid or tax back have paid sufficient UK tax to cover the tax relief.

Workers can also boost donations by giving money through their pay packets. The payroll-giving scheme allows employers to deduct charitable donations from workers' pay before tax is deducted.

A gift of £100 costs a basic-rate taxpayer only £78 and a higher-rate taxpayer £60. Employees can decide which charity or charities to give to, as long as they are registered in the UK. The normal minimum donation is £1 a week. About 600,000 employees donate in this way via 7,800 company schemes.

Another easy way to boost charity coffers while minimising the impact on your wallet is to give shares. If you have a tiny holding of shares that would be uneconomical to sell, you can donate them to Share- Gift. This charity bundles them together with other people's unwanted shares and sells them on the stock market. Since its launch in 1996 ShareGift has given £10 million to 1,200 UK charities.

Shares held in certificated form can be posted to Share- Gift, 5 Lower Grosvenor Place, London SW1W 0EJ.

While many of us give money during our lifetime, charities rely most heavily on legacies left in wills. About 70 per cent of us plan to leave something to charity in our wills, according to recent research, but less than one in ten of those who died last year with a will actually did so. Despite this, charitable organisations received a total of £1.6 billion from legacy donations last year. Jonathan Parris, director of Remember A Charity, says: "Legacies are the largest single source of voluntary income to UK charities."

The main benefit of leaving a legacy is that you can donate money that you might not have access to in your lifetime when your wealth is tied up in property and possessions.

Medical charities traditionally benefit most from legacy donations, as people show their gratitude for life-saving treatment, care or support. Cancer Research UK uses its £130 million annual legacy income, the biggest in the UK, to fund half its research budget.

However, thousands of other smaller charities in the country rely just as heavily on charitable wills. A £100,000 legacy to a local Ramblers Association allowed the group to open a long-distance walking trail in Devon last March, in honour of its benefactor.

Giving money to charity in your will is another handy way to sidestep the taxman. If your total estate is worth more than £285,000, your estate will have to pay tax at 40 per cent on everything over this inheritance tax threshold, unless you leave the excess cash to charity, a political party or an institution such as a hospital or museum. Leave £295,000 to your children and they will have to pay £4,000 in tax on the £10,000 over the threshold. Donate the £10,000 to a charity and it gets to keep the whole amount.

If you decide to remember a charity in your will, the first thing to do is to check that the group you had in mind has charitable status and is registered in the UK. You can do this on the Charity Commission's website at www.charity-commission.gov.uk.

Legacies can also end up in the wrong hands if the name on your will is incorrect. If a generous benefactor leaves £5,000 to Cancer Research UK, the money may never reach the charity if he or she failed to include "UK" in the title. Instead, it will be assumed that the benefactor intended the money to be split between several charities specialising in cancer research.

Emergency Pay Day Loans

Everything You Need to Know About Payday Loans

If your considering a payday loan then read on before you sign on the dotted line?

This is your Payday Loans Quick Guide, Payday loans often called advance loans, check advance loans, or deferred deposit loans, pay day loans come with an unusually very high interest rate and are quite often very expensive. Payday loans should always only be your last resort if you need to borrow money in an emergency. But, if you need money to meet a short-term cash need, a payday loan may be just be what you need.

Payday Loans are often secured against a personal check to the lender for the amount (sometimes including the interest) that you want to borrow. You will get the amount of the secured check less the fee and then the fee is calculated on the total amount that is borrowed. If you then need to extend the Payday Loan for a longer period, you will need to be prepared to pay additional fees for each extension period.

Like all Lenders, the institutions that offer payday loans are required by law to disclose the full and potential costs that may be involved in the loan. You MUST pay extra close attention to the finance charges and the APR (annual percentage rate). Ensure sure you shop around to get various offers and then choose the best deal that suits your own needs, and if the interest rates are extortionately high, you should first negotiate and then try to only borrow the minimum amount you need and make every effort to repay it as quick as possible.

Houses - To Buy or Not to Buy

Its a big problem today in the UK where people are saddled with incredible debt and enveloped by the illusion of the investment lifeline they hold in their property.

Recent studies have shown the unaturally high mortgages held by many young home owners is set to cripple them long term. Convinced that the best route to go is own a home at any cost for the asset can only grow in value, could actually be wrong.

With house prices at record highs, many first time buyers can only afford teh fashionable 'interest-only-repayment' plan. Meaning after 30 years of struggle to pay an average £1200 per month + insurances and bills, there will still be 100% of the initial capital to be repayed.

This will be fine if prices continue to rise, such that there is enough equity to pay the final repayment and leave enough for a comfortable retirement. The reality though is different as many experts foresee a significant correction in the coming decade, a correction that could wipe as much as 50% off todays levels.

The advice is to begin to re-think, buying is cultural phenomenan linited to the UK, its is not necessary to take such risks. Better ans safer returns can be found in bonds and isa's. Its worth speaking to your financial advisor before saddling yourself with a lifetimes debt.

Britain expects Interest rate increases

NEWS ITEM:

INTEREST rates will be in the spotlight this week amid expectations that the Bank of England will soon be hiking them for the second time this year.

The European Central Bank is set to raise its key interest rate from 3% to 3.25% on Thursday.

Amid conflicting data, including a downward revision to second-quarter gross domestic product and figures showing a record fall in credit-card lending in August, most analysts expect the Bank's monetary policy committee (MPC) to leave Bank rate on hold at 4.75% this week and to hike next month.

But the "shadow" MPC, which meets under the auspices of the Institute of Economic Affairs, says there is no reason for the Bank to delay. The results of its meeting, released today, show a 6-3 vote in favour of an immediate rise.

The shadow MPC voted for a hike ahead of the Bank's August meeting, when Bank rate was raised from 4.5% to 4.75%. It had favoured unchanged rates for every meeting before that since August last year, when it anticipated the cut in rates that month.

The six shadow MPC members who voted for a rise at the latest meeting cite strong growth in the M4 money-supply measure, rising house prices, consumer strength, above-target inflation and rising equity markets.

The latest business trends survey from accountants BDO Stoy Hayward suggests inflation expectations have risen in both the manufacturing and service sectors, strengthening the case for a rate hike.

"A rate rise is increasingly likely," said Peter Hemington, a BDO Stoy Hayward partner. "The majority of economic indicators this month have pointed to a rise in November and the business trends report suggests that the economy could absorb this."

5 Tips for Starting a Home Business

5 TIPS for Home-Based Business Entrepreneurs

Have you ever heard that only a small part (5%) of 'all' Home-Based Business entrepreneurs achieve success?

Do an online research on your favorite Search Engine and you will understand what I mean.

In this article I'm going to show you the KEY to Home-Based Business entrepreneurs success; you'll find out what makes an entrepreneur succesful in the home-based business field.

Below are 5 TIPS for Home-Based Business Entrepreneurs:

1. It's their mindset that brings success

Serious entrepreneurs have 'programmed' their mind to succeed no matter what. They don't lack focus on their home-based business and let nobody stop their plans in achieving what they want.

They know what they want and they have the DESIRE to succeed. If you don't know exactly what you want when it comes your home-based business, think about it again and re-consider your plans, what you want to achieve, a get-rick-quick or a profitable, long term business.

2. It's their start-up plan that brings success

Smart entrepreneurs know that it takes time to set-up and grow a profitable home-based business. They plan to succeed. They have a start-up plan that might fail but they never give up and start again with a better plan.

Serious entrepreneurs know that it takes discipline and time to build a strong and solid home-based business, which delivers ongoing income through many years to come.

3. It's their initial RESEARCH that brings success

Smart and serious entrepreneurs know the importance of market research. They know that in order, for a home-based business to succeed, they have to research their target market (their potential customers) and study their competitors.

Research your target market and study your competitors in order to have a long-term, profitable home-based business.

Know what your customers want and give it to them. Keep an eye on your competitors, study their offer(s) and make sure you come up with a better deal than them.

4. It's their marketing strategy that brings success

Study each successful entrepreneur in your marketing field and you'll notice how they market online / offline.

Each of them have their own 'unique' marketing strategy but they use the same basic principles.

Don't re-invent the wheel. Use the main marketing concepts that are proven to work but try to improve and adjust them to your own situation. Make them work for your home-based business. Make your offer better and unique than your competitiors if you want to WIN in this business, or simply quit (I know that's no what you really want!)

5. It's their investment that brings success

Smart entrepreneurs know that the KEY is to work SMART, not hard. If you don't have the required skills to develop a NEW marketing tactic for your home-based business why not hire a consultant who knows his stuff?

If you have 'enough' money why not invest in someone who can help you grow your home-based business and give me something to work at too?

What is more valuable to you, your time or your money?

A serious entrepreneur is ready to invest (both time and money). He knows that he will build a long-term successful business for him and the one he loves (friends, family, children, etc.)

The final (or first?) STEP you need to take in order to succeed is to act (take ACTION!). Yes, put into practice what I have told you above (the 5 TIPS for Home-Based Business Entrepreneurs) and you'll succeed, no matter what. Trust me!

10 Essential Tips for Entrepreneurs

10 Essential Tips for Starting Entrepreneurs - Ignore these at your Peril!

1. Do What You LOVE: If you've chosen your business because you read that this niche was the next hot one, or because your favorite uncle (or your best friend) thinks you'd be well-suited for this business, you may as well pack up now and save yourself some time and money. If you don't love what you do, it will show...potential customers will know it and will go elsewhere. Is it possible to be successful anyway? Sure -- but it won't be easy and it won't be fun...and isn't that why you want to be in business for yourself anyway?

Instead, choose what you love. You'll know what that is when you find yourself being incredibly productive, forgetting the time passing by, and not being able to wait to get up in the morning to do more! At Solo-E we call that being juiced...but whether you call it being in the flow, or the zone, or whatever, FIND IT!

2. WRITE DOWN Your Business Plan: As a small or solo business owner, you still need a business plan. Even if you aren't getting a loan! Would you invest thousands of dollars of your own money buying stock in a company that didn't have a written prospectus? (I hope not!) Then why would you spend thousands of dollars AND hours of your precious time on a business that doesn't have a written plan?

Write your plan, get it critiqued by professionals, and most important, BE READY TO CHANGE IT. This may seem counterintuitive...why bother writing it down if it's just going to change? Because writing it down makes it more clear...and helps you get to the next stage of learning and planning and revising. It's critical--67% of businesses that failed had no written business plan. Want to play the odds?

3. Multiply Your Expected Startup Costs by Two--or Maybe Three: When I started my business, an honors MBA grad with 15 years of solid business experience behind me, I figured I was smart enough to estimate my startup costs accurately. I knew all the things I needed and made conservative estimates and I was still WRONG! That's right, I was still off by a factor of almost three. Don't make this mistake! One of the biggest reasons small businesses fail is because of lack of capital. Give yourself the best possible start by saving or acquiring sufficient startup funds NOW. Before you start!

4. Make Your Market Niche as Small as Possible: Again, this is counterintuitive--shouldn't you try to appeal to as many people as possible? The paradox is that the more you try to appeal to EVERYONE, the less you will appeal to ANYONE. Let's say you are selling your house...would you rather list it with the agent who operates in 14 counties, sells both commercial and residential real estate, and sells everything from cottages to estates? Or would you pick the agent who specializes in your community, selling only houses in a well-defined price range that she knows extremely well? Ruthlessly define your niche, make it as small as possible, and stay true to it. You'll thank me later!

5. Do Marketing Your Way: The temptation is to choose all the marketing methods that the competition uses. To stay with tried-and-true marketing channels. To place advertisements that you know nothing about creating, or make cold calls that give you heartburn. Why? Because (all together now) "that's how it's always been done."

It's difficult to stand out among your competitors when you are doing the same kind of marketing! So instead, look to your strengths. What do you like to do? What are you good at? Then choose three marketing methods that play to those strengths. If you need ideas, check out 136 Ways to Market Your Solo Business, another article at www.Solo-E.com.

6. Remember the Most Important Ingredient in Your Business--YOU: Business-owner: know thyself. Spend some time learning about who you are and how you are unique. Then let that uniqueness shine through in your marketing, in how you run your business, in everything you do. Don't hide your quirks--celebrate them!

Customers go to small and solo businesses primarily because they are looking for a personalized experience. They want a relationship with you as the owner of your business. If you try to come off as who you think they want, they'll smell right through that and not come back. Be who you are, and trust that who YOU are is going to be attractive to the right people.

7. Build Your Business by Building Relationships: Being a small or solo business owner isn't about sitting in the corner alone. Actually it can be--and that isolation is what drives many out of business and back into a "job". Build relationships to survive! Start with your colleagues--others you know who are at the same stage of business as you, or are farther along and willing to mentor you.

Next, build relationships with potential customers. Ask them what they want! Then create products and services based on their input and come back and show them what you have done. Get feedback, tweak, and maybe make your first sale. Stay in touch with your customers even after they leave you.

Last but not least, build relationships with your competitors. You might be able to do this right at the beginning, simply by asking them for their advice. Surprisingly, many ARE willing to share their secrets if you just ask. Later on, build cross-referral relationships, co-marketing alliances, and other relationships that are win-win for you, your competitors, and your customers.

8. Don't Accept a Customer Just For the Money: This is probably the hardest advice for new business owners to apply. Especially when there is a job, a project, a potential client, just outside your niche, that could keep your business solvent for the next six months. Don't do it! Taking on a client outside your niche inevitably results in frustration for you, dissatisfaction on the part of the client, and in the end, usually costs you more than you make. Ask any successful business owner and they'll tell you this is true!

9.. Don't Do Everything Yourself: It's so tempting to fall into the self-deception that "it's cheaper for me to do it myself." IT"S NOT! If you aren't good at something, for instance bookkeeping, it will probably take you 2-3 times as long--time you could be spending doing things that are essential for you to be doing personally, like writing your business plan or deciding your marketing strategy. Put sufficient capital into your business upfront so you CAN hire help right from the start. Your business will get off to a quicker start because you aren't distracted by time-consuming tasks that drain your energy.

10. Assemble Your Support Team: Start with the people who will help you do the things you aren't good at. Some examples: bookkeeper, marketing writer, web designer. Then add the people who give you professional business advice: a lawyer, an accountant, a business coach. Finally, include the people who support you personally: your family, friends, and colleagues.

Don't forget to be part of other's support teams, too. Share your expertise at Solo-E, start a networking group where business owners support each other, share a referral with a colleague. Solo Entrepreneurs supporting other Solo Entrepreneurs is what will make us all successful!

Business Plans for a New Business

Need a Business Plan

Ok... so you've finally reached that stage in the development of your home business to get started. You've done the research, you have a game plan and you're ready to go except for one small detail... you need money. Whether it comes from a loan or from investors it doesn't matter but you need a good dose of seed money to put all your hard work and planning into action. However, regardless of who hears your money pitch before they give you a dime they will want see your business plan.

Business Plan - What Is It?

A good way to think of a business plan is that's it's a document that provide answers to the type of questions anyone who may provide financing would like to know about your home business. You will not get outside funding without one, because the people giving you the funding will insist on one because it helps them to know that you've thought through what you're proposing to do. A business plan says to them... "I've considered this from every angle, and here's what I've come up with".

Business Plan - What Does It Include?

What is your product or service? This is the first question every business plan should answer. You must explain in the clear, concise language what in the world you plan to produce or what service you plan to provide. You will also want to include why you've chosen this particular product or service.

Who are Your Customers? After you've explained your product or service, the next step is to identify who you plan to sell your product or service too and why. The demographics (age, sex, language, country, state or city, income, etc.) You need to clearly identify your customers in order to properly target your advertising, packaging, pricing, et.

What Makes You Different? You need to identify the "primary factors" that will make your business different than other businesses you'll be competing with. What niche are you filling that they are not or what do you plan to do to fill a particular void in the market that you've identified?

What are Your Expenses? Your start-up expenses include any equipment that you need before you can get up-and-running, while your day-to-day expenses are staff costs and supplies.

Need a Business Plan

Avoid Christmas Debt

WHY IS DEBT A PROBLEM AT CHRISTMAS?

Christmas puts a great strain on the family budget. There is enormous pressure on everyone to spend a lot on presents and entertaining. It is particularly difficult if you have children who want the latest and most expensive toy because they have seen it on the television and "everyone else has got one ".

National Debtline experiences a huge increase in the number of calls it receives in January, February and March when people start to feel the effects of having missed payments on essential bills to fund the festive season. This factsheet outlines some of the pitfalls of Christmas and how to avoid them.

Visit www.RemoveDebt.org for more advice

PLANNING AHEAD

• Draw up a personal budget to work out how much you have to pay out on all your essentials and make sure you have these covered. Our self help information pack "Dealing with your debts" shows how to do this.
• Make sure all your priority bills are being paid, e.g. mortgage/rent, gas, electricity, water, council tax and housekeeping.
• If you can decide how much you can afford to spend at Christmas in advance and stick to it, you are less likely to skip payments on essential bills which will need catching up with in the New Year.
• Try and spread payments for presents over as long a time as possible, so lump sums don't have to be paid all at once.
• Try to avoid expensive credit offers in shops, no matter how tempting they may seem.

Visit www.RemoveDebt.org for more advice

Care with Credit Card Charges

Many credit card firms have increased their interest rates in the last three months. Interest rates are the charges we have to pay for failing to meet the minimum monthly payment on credit cards.

The list of UK credit card companies that have increased some of their charges includes not only American Express and Barclaycard, but also most of the UK's biggest banks, such as the Halifax, HSBC, NatWest and Lloyds TSB, plus a host of other major card issuers.

In March, the Competition Commission imposed rules to stop store card customers being overcharged. Most of the country's debt mountain is due to the accumulation of mortgage borrowing which has risen sharply, in line with house prices.

The British Bankers Association reported recently that borrowing on credit cards had fallen for the fourth month in a row, the first time there has been such a decline. It attributed this partly to borrowers being more cautious. But it might also be due to the continuing switch of spending from credit cards to debit cards.

Saving for your Childrens Education

Savings bonds are an effective way to save for children's college costs

Parents preparing for a newborn have to make many preparations for their new arrival. They need to get the crib and nursery ready, make sure they have plenty of clothes and diapers on hand, and some forward-thinking parents are even setting up a college funding plan for their newborn.

While this may seem extreme, the fact is that it is never too early to start thinking about a child's educational future. College costs have consistently climbed in the last 10 years, and there is little reason to expect the trend will level off in the near future. In fact, economists estimate that collegiate expenses will climb at a rate of five percent annually; meaning that by the year 2022, a year at a private college, including tuition, room and board could cost $69,940.

As startling as this figure is, the earlier parents start saving for these costs, the easier affording college will be.

One reliable way to save money for a child's education is through an Education and Savings Bond. These bonds, called series EE and I Bonds, not only allow parents to earn interest on their investment, but enables qualifying parents to exclude the interest income from their taxes when the bond is redeemed.

To make the most of this program, parents must fulfill several criteria:

Parent's Eligibility: The parent must be 24 years or older, and the bond must be in the name of either or both of the parents, not in the child's name. (However, the child can be named as a beneficiary.) If the qualifying parent is married, they must file a joint tax return.

Eligible Institutions: Most post-secondary institutions such as colleges, universities and vocational schools must meet certain federal assistance standards. (As a general rule, institutions that qualify for the guaranteed student loan program will also qualify for the bond program.)

Qualified expenses: Only expenses such as tuition and lab fees are eligible under the program. Books, room and board and other living expenses do not qualify.

For parents starting a college education fund for their children, Education and Savings Bonds could be an effective way to start.

Prioritising Debts - Who First?

Often the most challenging place to start whenyou get some spare money and need to pay some creditors.

In general use this 7 point rule to repay your debts in the following order:

1. Debts owed to people that will hurt you, as obvious as this may sound.
2. High interest rate debts. These will usually be 'rolling credit' debts, such as credit and store cards.
3. Personal loans from finance companies, perhaps for a car, for example.
4. Personal loans from banks and high street lenders.
5. Second mortgages. Though these are secured, they are often at high rates of interest.
6. Loans from friends and family members.
7. Your mortgage.

What Credit Score Really Means.

Credit score can affect everything from whether you qualify for a mortgage to whether an employer hires you, but have you ever made a plan to consciously improve your score? If not, it can be costing you dearly.

"When it comes to mortgages, auto lending and credit cards, the higher your score, the lower the interest rate you're going to pay," says Barry Paperno, manager of customer service for credit-scoring company Fair Isaac, which created the widely used FICO credit score. So the time and effort it takes to improve your credit score could save you hundreds of thousands of dollars over the course of your lifetime.

Loans and scores

For most people, a mortgage loan is where they'll reap the greatest rewards from an improved credit score.

"For the past two or three years, mortgages have been the lowest in 30 or 40 years, but that doesn't apply to everybody," says Janette E. Jones, mortgage consultant for American Home Mortgage in Bethesda, Md. "That applies to people who have excellent credit. Someone who has excellent credit can actually get a fixed-rate loan for 5.5%. However, for people who have less-than-excellent credit -- and I would say that's anything below 650 (on the FICO scale of 300 to 850) -- they're looking at an interest rate that's 1% higher, at the bare minimum."

Paul Clitheroe - Part 3

Here is part 3 : Managing your Money

Paul Clitheroe - Part 2

Part 2 : Managing Debt.

Paul Clitheroe - Part 1

Renowned Financial Adviser Paul Clitheroe gives you advices on how to build your personal finance.

This is only a short clip but i'll post some more to build the series

Free Debt Advice

If you live in the UK and have credit problems check out this not-for profit website that links you to the guys that can help.

Consolidation Loans Explained

Beware of 'Informal debt consolidation'

The are several organisations that advertise in the National newspapers that pose as "specialists" advising that if you owe over around £8,000 or more, they "can reduce your debts without the need to borrow". Theses "specialists" will offer services and assistance; but beware! Most of these "specialists" are intermediaries with no relevant qualifications and their advice could prove costly and inadequate.

Particular care should be taken when considering any propositions which promote 'debt consolidation' or ' debtor-creditor arrangements ', sometimes with consultancy agreements stipulating fees which people are expected to guarantee.

The UK Insolvency Helpline's panel of professional advisers are qualified, regulated and accountable. The average person can rely on our advice when considering personal obligations under the 1986 Insolvency Act and any restructuring of businesses. A "specialist" solely registered under the Consumer Credit Act as a Debt Counsellor need not be qualified, and is not registered or accountable under the relevant insolvency legislation. If in doubt please contact us for advice.

Intruder Alarm Systems & Lower Insurance

Its a known fact that if you invest in a certified intruder alarm system your insurance company will offer you a reduced insurance premium.  Whilst it means paying money up front you'll save in the long term. Often discounts upto 15% can be negotiated with your insurance broker.

Get a range of quotes before you install and first speak to your insurers to see if they demand a specific brand or level of security.

Searching your local business directory for a home security quotation is the best place to start.

Debt for Private Education

The UK Observer newspaper reports parents are going into massive debt to ensure their children have a good education.

This is a difficult quandry, for debt is the cancer of the modern world, though educating our children is often seen as the sweet cure to future maladies.  If there is one thing worth enduring debt for, its giving your children a good start in life.

Ensure the school you want to send them is actually as good as it claims, many just play of their historic results, as oppose to recent stats.

Also check other costs if you go this route: uniform, books, trips... these are often big hidden costs at private schools....

Parents who have not got their first choice of state school for their children or are worried that their local schools are just not up to scratch often feel they have little choice but to send their children to private schools - even if that means pushing themselves to the limit financially. The news that more and more parents are getting into debt to pay school fees is a sign of the lengths some families will go to for their children's education.

http://observer.guardian.co.uk/cash/story/0,,1874113,00.html

Credit Card Fees

April 2006 The Office of Fair Trading (OFT) made a recommendation that credit card companies reduce their credit card penalty fees to a maximum of 12 pounds. This is now filtering through to the High Street (excuse the pun)

After wrangling and reluctance most UK credit card companies agreed to reduce their penalty fees albeit sometimes in graduated fashion.

The OFT announced last week that all credit card suppliers now have indeed agreed to fully reduce their credit card default fees, the majority by at least a half. This is good news for all.

Consumers are still faced with credit card penalty fees for late payments and unauthorised overdrafts. Even though the fees have been reduced to a maximum of £12, this is still a considerable amount to be charged.

So you still need to try and avoid these pitfalls by following simple rules and guidelines outlined by your specific CC company. Nothing is a replacement or a solution for responsible spending.

Help to Pay a Mortgage

Many people I know are having problems with their mortgage payements.  Its a growing problem and one thats far from going away.

I always tell them there are many ways to get help to pay a mortgage, which dont mean more debt or fear of retribution !

Firstly the best place to start is the mortgage lender themselves, any insurance policies you may have and the Department for Work & Pensions (DWP) can also give you advice on your rights.

Mortgage lenders often offer types of 'Rescue Scheme' whereby they buy back your home or part of it. As a result of this you become a tenant or part tenant.  This is often the best solution if you cant see strong improvements in your financial incomes. It is worth asking your mortgage lender if they operate this scheme, especially if you want to remain in the property and have very little or no money to offer.

Always always check that for the first port of call you have claimed under any mortgage protection insurance you may have. If you do not understand your terms and conditions of insurance get some good advice from an accountant or bank advisor

You may be able to claim extra benefits from the Department for Work & Pensions (DWP) to improve and raise your current income levels if it is thought to be low. These can include Working Tax Credit, Income Support top-up etc; depending on your situation you may qualify for disability benefits based on personal circumstances for yourself, partner or children.

Contact the DWP or Welfare Rights for advice.

For short term fixes, a very good option is to take in a 'lodger' or a 'tenant' may be a possible short/long term solution, however if you are claiming any state benefits then you would need to check how this may affect your entitlement to your existing benefit either by contacting the DWP or your local advice service.

Most importantly, dont panic, and dont leave it until the bailiffs arrive !

Dealing With Debt - The Smart Way

Dealing With Debt - Debt Problems

Credit is assuming a larger role in the life of the average person. Living beyond your means was once considered sinful; now it is a common way to spend anticipated future earnings. This can be good or bad, depending on the individual situation. Certainly, credit is a good idea for the high priced capital items, such as cars, or household appliances; because of the length of time it would take to save and buy such items, buying on credit is a sensible way to be able to enjoy the goods now, and pay later.

Assessing Your Financial Situation - Debt Problems

In this fast moving world, we sometimes lose track of certain parts of our lives. Personal finances are often complicated; with increasing pressure on time available, many people let this aspect of their lives slide. In fact, it is probably one of the most neglected areas. It is too easy to adopt an attitude of "spend, spend, spend…" until the money runs out. However, this policy eventually turns sour, and something needs to be done. As stressed earlier, the sooner you recognise that there is a problem, the better. The next step is to do something about it....

Come back as we delve deeper into debt problems in this bi-weekly advice blog

Unfair British Inheritance Tax

According to a recent study British people think inheritance tax (IHT) is unfair. Three-quarters of those surveyed said the tax was unfair, while just 8% thought it was fair. The tax is paid at 40% on the value of estates beyond the £285,000 threshold and the government is predicted to raise £3.6bn this year from IHT.

One in 10 people estimate the value of their estate, including their property and other assets such as savings and investments, jewellery and cars, at between £300,000 and £500,000. This puts them firmly above the threshold, according to insurer Friends Provident.

Almost a quarter of the 3,200 people surveyed believed their wealth could be between £100,000 and £300,000, potentially leaving their estate open to tax. Tax experts Grant Thornton predict that 3.6m estates will have to pay IHT by 2009.

People continue to be confused by inheritance tax rules, with only 39% aware that the current threshold is £285,000 and just over a quarter aware that estates over this value will be taxed at 40%.

Similarly, 39% of people know that gifts or transfers to family and friends made at least seven years before the benefactor dies will not be liable for tax. But only 28% realise that people can give up to £3,000 each year tax-free. A small minority, 6%, have started moving their assets onto their nearest and dearest.

Holiday Currency

Courtesy of www.qck.com


It is "well worth" changing leftover foreign currency back into sterling following a trip abroad, according to Kevin McAdam, head of travel services at the Post Office.

New research by the Post Office indicates that 33 million holidaymakers hoard leftover spending money at home, rather than visiting a currency exchange bureau on their return.

Figures also show that despite the Post Office indicating the "quick and easy" way in which money can be exchanged, one in five people still hold onto £50 or more in foreign notes.

More money is being brought back than ever too, with Britons returning with an average sum of £27.78 – 63 per cent more than in 2004, the Post Office suggests.

"It's easy to stash your leftover foreign notes and coins in a drawer when you get home from your travels and forget about it," said Mr McAdam.

"But with one in five of us claiming to bring back £50 or more, it's shocking to discover that so much money is being wasted."

"It's quick and easy to change your currency back and well worth it considering how much people are now bringing home. The best buy-back deals can be found at independent high-street providers offering zero per cent commission," he added.

A report last month by the Post Office showed that Britons prefer to use money when they are abroad, rather than credit cards.

Supermarket Car Insurance

Sainsbury's Bank is offering motorists the opportunity to assess their car finance costs by providing a new free guide. The bank states that the annual cost of running a car, including petrol, car insurance and road tax, has increased by around 7.2 per cent.

Offering drivers an insight into ways they could reduce car finance costs, the guide shows that a number of savings could be made.  Taking into account running costs, as well as interest paid on personal loans taken out for vehicle purchases, the average annual cost of motoring is £2,202, the banks indicates.

Richard Clark, car insurance manager at Sainsbury's Bank, says: "The cost of motoring has been rising steadily but you can keep this in check." "For example, shopping around for car insurance and your fuel could make a real difference to your motoring bill at the end of the year." "However, it is not only the costs associated with running a car that motorists need to tackle but also the price they pay for them," he adds.

Mr Clark also indicates that the UK could save a collective £512 million by haggling over the cost of a car in the first place. Alliance & Leicester revealed yesterday that nearly half of all people who borrow money to buy a car could be getting a better deal.

Loan Sharks

If you want to remove debt, there are some people to be very wary of.  LOAN SHARKS

You may be dealing with a loan shark if:

* the salesman is pestering you or is particularly pushy
* the interest rate is significantly higher than other loan lenders
* the company is reluctant to show you the loan terms and conditions
* you are asked to tie yourself into a long-term contract

If you are in doubt as to a lender's credentials, it's a good idea to check this out. You can find out whether a financial services firm is regulated on the Financial Services Authority (FSA) website.

Or visit this remove debt help site that i found for a good source of registered companies that can help.

Debt in the UK

So debt is spiralling out of control in the UK... should we be surprised ?

Anyone who lives in London and tries to keep their head above water already knows this. The trials and tribulations of earning a decent wage and yet still coming up short each month is a real pressure and stress.

There is just too much to buy, there are too many messages telling us what we should have to keep our lives respectable in this modern age of technologcial and style advance.

But then there is always the trusted credit cards that offer endless lines of credit, and when those run out, you can apply for another one, transfer the balance and get 0% for 6 months... and so the merry go round spirals untill you need to take advantage of the many debt consolidation firms out there !!!

Ah, where will it end? the important thing is not to get in debt in the first place, live within your means and within your needs.

Check out www.removedebt.org for some great free ideas on how not toget into debt or for debt removal

In the meantime. Check back here weekly for hints and tips provided by a selection of experts. It wont cost you a penny and may help you long term !

Make Money On A Home Based Business

Have you ever thought about starting a home based business in order to make money? A lot of people have, but where do you start with this? The questions about home based businesses and how they make money for you are unending. You need to take care to take the first step when you are thinking about doing this. Most people miss this completely and thus they end up losing all their money on a business that goes nowhere.

Making Money By Writing A Home Based Business Plan All right, the business plan for a home-based business may not sound like making money but it works. Far from what you may believe, it is not that hard to write a business plan. This isn’t one you need to show off to anyone. You may not need it to show to the bank for funding. What this business plan will do is describe what your ideal home-based business will look like and how it will make money for you. You can’t reach a goal if you don’t have it set in the first place.

Write out your ideas of what your future will be like. In the end, what do you want to do? To you want to work in your pajamas in the morning with kids watching TV and you sitting at the computer typing away? Do you want products that you make by hand for each customer? Do you want to stock up on wholesale products and sell retail? The Next Step To Making Money With a Home Based Business Your next step is to take the next step. That might sound redundant but look at your business plan.

Your plan needs steps to get to where you want to be. Write out these steps, and then take the first one on the list. Once you have the steps written down, it’s easier to get to where you want to go. Just follow the steps. Need help? Ask! Join a business forum and ask someone you trust to look it over. Read everything you can get your hands on about home businesses and how they work. Taking That Dramatic First Step Toward Making Money with a Home Based Business

Once you have the plan, the steps and know what to do, what makes you resist? Perhaps you fear failure or maybe you even fear actually succeeding? Forget for a moment all about failure or anything else. Look at your first step. Concentrate on it. What is it exactly? Think about how you would do it. Picture in your mind the first step and how exactly to go about it. Spend an entire day thinking about that first step and where you will do it and how it will be done. Then, when you are ready, do that first step and don’t stop until it’s done. Whatever it is, once it is done; look at your accomplishment.

Reward yourself with a treat for getting it accomplished. It was the first step to your goal; making money with your own home based business. You’ve earned it!