In Australia, there is currently $1.1 billion worth of unclaimed money. Unclaimed money usually eventuates as a result of people moving often or moving internationally, and some people simply forget or do not realise they have money to claim. According to ASIC, there is over $80 million in lost life insurance money, $617 million in…
The ability to be smart with your finances in order to make more money is not always easy. We live in a society where we are encouraged to consume, and we often end up making poor choices as consumers that see us buying things we do not need and ending up with less money. Follow…
Credit scores are an impact factor in determining an individual’s credit worthiness. When an individual applies for a loan, such as a mortgage or car loan, a credit provider will use a credit score to help them decide whether to lend the money, the amount to lend and the interest rate. An individual’s credit score…
Ultimately, every investor is different. However, when looking to invest in any startup company, there are a number of boxes you will need to check regardless of who decides to invest in you. You need to know the market. How big is the market? How populated is the market? Is your product or idea doing…
Although, some business owners may be apprehensive at the thought of increasing prices, it is an inevitable and necessary part of business survival. While most customers may not be thrilled by the announcement of a price rise, there are ways to approach a price raise for a more favourable reaction. Here are the best tactics…
Business fraud is a significant and growing issue for small business owners. Although fraud is not completely unavoidable, there are ways businesses can protect their private and confidential information. Here are five tips to help secure your business information:– IT security. Using effective IT measures, as well as ensuring websites are secure and safe for…
Financial ratios are useful tools for business owners to monitor, analyse and improve their business performance. A financial ratio contains one or more financial figures and is expressed as a ratio, rate or percentage. Financial ratios are used to measure profitability, cash flow and liquidity, risk and return, and stock turnover and sales. Here are…
It may seem obvious that business growth can only occur when there is money available for reinvestment. However, many businesses do not consider this when budgeting and planning their long-term finances. One of the biggest impediments to growth is access to finances that will fuel the investments that are needed to support growth. Therefore, it…
An overwhelming majority of people will face debt at some point in their life. Uncontrolled debt can easily snowball and severely impact an individual’s lifestyle and financial freedom. Fortunately, debt is manageable and is often contingent upon an individual’s motivation to get rid of debt fast. Tackling debt is often a process of managing expenses…
Individuals with high debts can see bankruptcy as a solution to their problems. However, being declared bankrupt has some serious long-term consequences and should be seen as a last resort. A personal insolvency agreement (PIA) is a formal way to deal with unmanageable debt without having to declare bankruptcy. It provides a flexible way for…