Good credit management is an important business strategy to maintain cash flow and stable finances. A cornerstone of managing credit is not only making sure an invoice gets paid, but gets paid on time. Before a debt recovery process commences (which may delay payment further and damage a relationship with a customer), it is worthwhile…
Managing money on a student budget can be challenging but it does not have to be burdensome. With the right financial skills and knowledge, you can learn to manage your money more effectively while saving a few extra dollars. Here are three considerations for students: Creating a realistic budget Between paying for basic living expenses…
Joint accounts can be a great financial tool, but they can also be the source of conflict for partnerships. Before setting up a joint account, consider the following pros and cons to ensure you are both experiencing mutual benefits and avoiding unnecessary conflict. Benefits / pros – Joint accounts are great for individuals with shared…
A loan can be great help. It can assist you in achieving your goals faster, such as buying a house, purchasing a new car or getting your business up and running. However, there are many considerations to make before taking on a loan as choosing the wrong loan can cause financial and legal havoc down…
Keeping business records up to date and in order isn’t necessarily a habit that comes naturally to all business owners. With owners needing to be on top of essentials like expenses, cash flow and invoices at all times, having access to real-time information can make all the difference to small business success. Real-time bookkeeping can…
There are many rewards when working for yourself; no boss, freedom to choose your own hours and some lifestyle perks. However, self-employment also means you are responsible for balancing your personal and business funds. Consider the following tips to better manage your personal and professional affairs: Pay yourself It is a good idea to get…
Getting a good loan can save you thousands of dollars in fees and interest, so it is important to shop around for the best deal. There are many considerations when choosing a loan. After you have decided on the amount you need to borrow, the features you need and the time frame to pay it…
Getting your tax refund back is exciting, but as tempting as it is to splurge, consider other ways you can put that money to good use. Consider the following options: Add to an emergency fund If you don’t already have an emergency fund then now is the time to start one. An emergency fund acts…
There are no steadfast rules for saving money. Everyone’s financial situation is different; people earn different amounts, need to save different amounts and have varying expenses. Luckily, the following tips can apply to anyone. Budget Planning ways to cut your expenses and save money is important if you want to save but at the same…
Getting into debt is not usually something you plan for; you may have an emergency fund but sitting down and planning how to pay off debt may not be something you have considered. Read the following strategies for getting out of debt. Plan It’s all well and good to recognise your debt and want to…