Thursday, March 12, 2009

Helpful Financial Advice Online

How can you be healthy financially? Do you have any definite ideas? Here I am trying to share my thoughts with you.

1) Make a habit of saving - If you want to stay financially healthy then you must have this habit. How little and how much you can save it’s not matter too much but the important aspect is your saving habit. So try to save as much as you can from your total earning for future.

2) Know the difference between “need” and “want” - We must have the basic knowledge of the difference between the two word need and want. Food, water, cloth, shelter is your need whereas entertainment goods like a latest mobile or car are your want.

3) Live within your limit - You should know your limit of earning and expenses should also be within that range. If expense outgoes income then you are going to be in a downfall. So know your means of living in better ways to make your financial position healthy.

4) Make budget for new financial year - A better plan always make your goal successful. You must have a pre plan to be successful in your life. In the same way your financial healthiness depends on a better budget. So when a new financial year starts make a budget for the year and maintain your lifestyle according to that.

5) Be careful at the time of taking a loan - Most of us need to take loan sometime in our life. You must be careful about the repayment plan and the interest rate on that loan. Do some market survey about the interest rate before taking a loan. This kind of small but important decision can change your life.

6) Get relief from Debt - Some of us have already ruined up their financial position. Huge amount of debt already there with them. From this kind of position how can they come out? The answer is simple, pay out debt. But again the question may be asked that how can they pay when they don’t have enough amount to pay! In this position they can opt for the services of Debt Consolidation or Debt Settlement. But you need to take professional advice before taking any crucial decision.

7) Try to earn more - Before everything the most important advice may be earn as much as you can. Your huge earning can solve all of your problems. Never waste your time idly, try to invest your every moment in thinking of earning more and more.

If you do have further suggestions regarding financial healthiness please share with us as your comment. I will really appreciate your suggestions.

The right franchise can smoothen the business start up process

If you are thinking to start up your own business, you have to make a very important decision in choosing the right franchise. You will be able to overcome some of the stress and guess if you have chosen the right franchise. Most of the reputable franchisor will make you go through a rigorous screening process before they authorize you with the franchise opportunities. The process will become smoother if you know the franchisor and this will help in moving forward together with confidence.

If you have some land that can be offered to the franchisor, you will get some significant advantages in starting your business from the scratch. It is a good idea to get some franchise consulting before starting this business.

With a successful franchisor, you will be able to purchase a proven business model, rather than having to give your own time and build one. When you make your own product, there is a lot of testing of the product involved, tweaking and revising. The process is a lot smoothened after the franchisor has sold you the product.

When you deal with the franchisor, you will be ensured of getting quality products, job descriptions and training programs. If you start your own business, you will have to develop these things first by sacrificing the time left for your family, recreation and sleep.
You will get a lot of ongoing support, mentoring and training from the franchisor. Even though you are just the beginner, you will have great products with quality service that might be the biggest gain for you.

The franchisor will do the marketing and brand recognition for your business. If you are independent business owner, you are solely responsible to design, build and pay for these items.

The franchisor will purchase the products at the cheapest rates, providing some benefits to you. If you have your own business, cutting deals on small amounts of product, supplies can be an unforgiving bunch.

Franchising is closely regulated, thereby making the track records easier to access along with quality standards, and to solve problems should they arise.

Franchise business is good for someone who wants to start a business but you should be aware of the following disadvantages.

You will have to pay a fee for purchasing the franchise package. The fee keeps getting higher if you are dealing with a successful franchisor with lucrative products. In most cases, you will have to bear the monthly royalties and fees.

The franchisor will determine and limit the size of your territory, and control your expansion.

For most parts, you will be fully controlled by the franchisor’s methods, timelines and processes. Although purebred free-spirited entrepreneurs might eventually find franchise controls a bit stifling and want to move on, the franchise model offers an attractive option to get into business.