Info NEX Finance

Finance is not merely about making money. It's about achieving our deep goals

Author: Melissa Johnson

Pay Back Student Loans

  1. Have a Plan. Work out a strategy that will allow you to pay off your debt well before you graduate.
  2. Have a Savings Plan. It might be an advantage for you to either get a part time job to help you or look at other methods of raising passive income. Some methods to raise extra needed cash include setting up a crowdfunding campaign, start an online business or even write some eBooks about something you are passionate about
  3. Double Think about Consolidation. This is the method of pulling all of your existing loans into just one loan. The advantage of this is that you will only have one payment to worry about and you will also probably get a discount from the finance company
  4. Debt Reduction Through Work. There are several things that you could do to help reduce your level of debt, you might like to try your hand at self-publishing on the Kindle platform, you might like to set up some sort of internet venture or one of the quickest ways to make money online these days is to set up a crowdfunding campaign. This is my favorite because it means that you can get money quickly, you
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Can Avoid Bankruptcy

You didn’t plan to get laid off or the insurance company not to pay your claim. That’s not your way; you have always been self-reliant and independent and paid your way. You have been slammed and knocked down, but you know that you will get back on your feet given some time.

There is the stress of constant phone calls from banks and finance companies and the simple lack of money. There is seems to be no way out but to chuck it all in and declare bankruptcy. At least that will get everyone off your back.

Bankruptcy will stop the creditors in their tracks. It will stop them calling and harassing you. It will allow you to re-group and get things back on track. And sometimes there is no other alternative if you debts are too big and too overwhelming.

BUT Bankruptcy is no walk in the park. Bankruptcy is like financial nakedness. You are stripped of all but the bare essentials and made to parade around wearing that burden in public. Bankruptcy sure isn’t for the modest. Your name is put on a public register and remains there for 7 years, You need to hand over to your …

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Effects of Bankruptcy on Credit

Debt Resolution Companies and Your Credit.

Many people try to do whatever they can to avoid bankruptcy, for some people this includes entering into agreements with companies that promise a lower payment by consolidating their debt. These companies come in a variety of flavors. That is a topic for another time though. What many of them will do is enter into an arrangement with you where you make a monthly payment to them, then they either hold the money until they have enough to make an offer on any one particular debt, or they make small monthly payments to all of the creditors at once. The problem is, this doesn’t stop those creditors from negatively reporting to the credit bureaus. It also doesn’t necessarily stop the creditors from suing you in state court, obtaining a judgment, and garnishing your wages. Another problem is that if they do settle, it will show up as settled for less than full amount which hurts your score. On top of that, if you settle, you will likely get a 1099 from the company and likely will have to claim the forgiven amount as income on your taxes. That will either mean you will have …

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Take Control Of Company Insolvency

  1. Get as much information as you can about the process. There are very good insolvency practitioners you can involve in the process to make it easier for you. They can help you with deciding the next best course of action and to know the possible outcomes. Liquidation services can actually go a long way in reducing your stress levels because the experts offer you a better sight of the next path to take.
  2. Remain focused on the future remembering that liquidation and insolvency is not a process that is unique to you. Gone are the days when they carried stigma; the recent recession has made them common. Therefore, the best you can do is to start by putting everything into perspective and work towards a better future.
  3. Take some time out even though liquidation is a process that can be demanding. When you take a little time to breathe, you will find that you are more prepared and positive about the current business situation you are facing. Do some fun activities such as listening to music and dancing, walking the dog or even hitting the gym to take your mind off things for a while. It is a simple way
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Big Fat Greek Deception

The Greek Extend and Pretend Game

Any expert who was looking at the situation from a purely mathematical perspective would have known years ago that the Greek debt is simply not payable. The real mess had been created when loans were being given out to the Greeks. That was the time when debates would have made sense. Around 2009, when the world woke up to the Greek crisis, it was already too late!

Greece,was like a college student who had somehow gained access to multiple credit cards and now had such a huge balance that bankruptcy seemed like the only option. The revenue generated by the Greek government from taxes was not even enough to pay the interest due on the debt! So the Greeks simply did not have the wherewithal to hold on to this debt till eternity even if they wanted to. They were going to default even if they simply made an attempt to pay the interest due on the loans.

Instead of accepting the situation and letting the inevitable happen, the IMF and others came up with an ingenious plan. They would lend the Greeks more money at an outrageous 14% interest rate. The money that …

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Stay Out of Bankruptcy

Some billionaires have risen above others by avoiding payment to contractors and others who have supplied them with goods, such as buildings or vehicles. They moved their money into trust accounts or created off-shore accounts where such was drained off over time. Some also use a spouse or partner to gift money to while their business was operational.

The problem is they have left others to face bankruptcy who they then refused to pay. These are usually the contractors and their sub-contractors that usually involve small family businesses that cannot sustain big losses.

Money is an invention for power and some think that the world owes them so they don’t care who they hurt in their rush for the biggest slice of wealth. So how does the little guy avoid going into bankruptcy.

Years ago this was a problem faced by me when a shift in the economic security of Australia saw an inevitable depression hit my business. It was heightened, however, by a break-down of marriage and three teen-age children dependent on me. The situation was extremely dire as I owed money to many that could not be paid back.

Working my way through it was the first step. …

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Create a Budget

How Can You Create A Budget?

You can create a budget simply by using a paper and pencil or using more sophisticated monthly budget planner tools that come pre installed with templates and a variety of options that help you stay in control of your finances. However, here are some basic tips to create a budget for both individuals as well as business owners.

Make a Vow to Follow Your Budget

Most people tend to create a budget but fail to follow it. Even if you miss your targets the first few times, you must ensure that you start keeping on track. As you practice this, you will realize that budgeting is a useful tool that really helps you to save your money and make informed spending decisions.

Determine How Much You Have and Your Income

You must know exactly how much savings you currently have in each of your accounts along with the interest rate that applies to it. This information is important in determining your net worth and how you should use your capital in the future.

If you work in an industry where your income keeps fluctuating, it may be hard to take a true reflective figure …

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Info of Managing Staff Costs

The importance of staff costs

For many budgetholders people are their biggest cost. Therefore this article sets out to look at some of the issues around people costs.

Issues such as: “What’s the cost per day of my people?” “When should I use agency staff, temps and contractors?” “My workload is seasonal, my staff aren’t. How do I manage?”

How much do my staff cost?

“There are 260 working days in the year, so my team member on a salary of £26,000 costs me £100 a day. Right?”

It’s the obvious answer, but it’s wrong!

A gross salary of £26,000 pa is less than the full cost of employing the team member. The employer also (often) pays employment taxes. In the UK this is Employer’s National Insurance, in 2014 this is 13.8% extra on the gross salary. Then there are the employer’s pension contributions (often 5% to 10% of gross salary in the UK). There are other benefits in kind (company car, private health cover, etc). Not to mention the cost of training, equipment (PC, tools, uniform, desk, etc), and any other employment costs.

All of these can increase the cost by 25% or so, quickly turning the £26,000 into …

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Money Saving for New Parents

  1. Don’t Buy Maternity Clothing
    I’ll elaborate on this one. Of course as a pregnant woman, you’ll need to expand your wardrobe to accommodate the life growing in your tummy. I did purchase a few new items during my pregnancy, but I didn’t buy clothes that were marketed as maternity clothes. They cost a pretty penny, and since pregnancy has stages, you could end up wearing a maternity shirt for 1 or 2 months alone. What I did was purchase clothing from my favourite stores (or thrift shops), but in larger sizes. Aim for sales racks to save extra money. That way, you can still get items at competitive prices, while blending in with the general population. Once baby is out and the weight is down, you can save them for the next baby, donate them, or make adjustments and continue wearing them in your postpartum stage.
  2. Throw a Baby Shower
    There’s no doubt that baby showers are the best way to collect free baby products. If you decide to create a registry, be sure to select items you need, as opposed to what you might like. Don’t be afraid to choose big. A friend of mine surprised us with a
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Save Money As A Single Woman

Entertainment

It’s good to have fun, but you need to save; therefore, it’s wise to cut on movies, drinking, and other activities that take up a lot of money. If you need to have fun, you should always consider cheaper alternatives.

For example, instead of renting a movie from the movie store, you should consider other alternatives that will allow you to watch the same movie for free.

Since friends greatly affect the amount of money that you spend for entertainment, it’s wise to avoid those that are flamboyant.

Dining

One of the major things you need to do is to learn how to cook. Cooking at home is not only cheaper, but it’s also healthier. While it’s tempting for a single woman to buy food at a fast food restaurant, you should not do it.

If you don’t know how to cook your favorite food, you should consider joining a cooking class in your area. You can also join an online class and learn how to cook.

If you have to eat out, you should look out for promotions that are common with restaurants. The restaurants often place coupon codes in magazines, newspapers and on their websites and if …

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