October 24th, 2014 · blog
A lot of businesses get into trouble with cash flow. Even when they make a profit during the year, they have issues at certain points of the year where the cash flow isn’t sufficient to sustain the business. That leaves the business owner in the difficult predicament where they either have to choose which bills they can afford to postpone paying or with looking for a loan to carry them through until their receivables come in. Either of those two options can cost a business more in late fees or interest, hurting the future profits of the business.
So, the key is to try to smooth out the cash flow. That can be done by changing the way your business handles either accounts payable or accounts receivable and sometimes both. This excellent infographic offers some opportunities to address issues on either side of your cash flow. The ones that I plan on focusing on for my business are payment terms. By addressing the terms that I offer to my clients, I think I can speed up payment and improve my cash flow in a significant manner.
Regardless of the type of business you have, you should be able to find at least a few tips that can improve your cash flow. Give it a look, improve your cash flow and let us know which areas you think can help your business’ cash flow in the comments below.
Everyone wants to be a millionaire and while many of us work hard to get where we are today, there are many would look for a easy route to big money. Fortunately, there are ways to get to lots of money quickly but they involve plenty of risk that could see you lose it all. Here are some of my favourite high risk ventures for making money.
Whether it is sports betting, poker or casino games such as Blackjack or roulette everyone is aware of how much can be made from gambling. Take for instance UK resident John O., who is a member of online bingo site https://www.butlersbingo.com/, John turned a 30p spin on the online slot game The Dark Knight into more than £5.8m!
For each massive success there are plenty of people who lose all of their bankroll with one false move. For example, in soccer, English Premier League leaders Chelsea were beaten by lowly Aston Villa last weekend. Upsets like these can cost people looking to make big money from gambling in a way. Others lose it by foolishly chasing losses, but for a patient person with good bankroll management skills as well as an ability to pick winners or win at poker, then there is certainly a chance of winning big by gambling.
The buying and selling of stocks, options and currencies as well as futures within the same business day is covered by the blanket term of day trading. This form of trading has, with the advent of electronic trading, become increasingly easier for individuals to trade rather than it being the preserve of financial firms and professionals. [Read more →]
We all like to have activities that are fun and entertaining, yet dont have to be a drain on our wallet at the same time. Here are just a few ways to have fun without ending up out of pocket.
There’s no need to join a gym and pay expensive membership fees to get fit and active. Walking is an activity that costs nothing and can be done from your own doorstep, wherever you live. It doesn’t have to be something that is reserved for weekend countryside rambles either. You can build up your fitness gradually by getting off a stop or too early on the way to and from work if you take public transport, or parking further away from the office if you drive your own car. Walking for pleasure is a great way of doing exercise, but it’s also an activity that will help you clear your head of the day-to-day stresses and you’ll get to know your local area better too.
If you want entertainment on tap, all you need to do is join your local library. There’s enough reading material to go at to last you a lifetime and, as long as you return the books in time, it’s free! Don’t just plump for fiction – expand your knowledge of the world by reading some history books and some biographies too.
You don’t have to spend a lot of money to ear healthily. By refusing to buy ready meals and instead cooking meals from scratch with seasonal ingredients, you’ll not only end up saving money, but you’ll also develop new skills in the kitchen. You’ll see that cooking can be a pleasure, not a chore and it can be a great frugal hobby.
Revisit some board games
We all have board games that sit in a cupboard and don’t get to see the light of day except at Christmas. Introduce a games night in your household and enjoy the fun of the whole family playing together. If you don’t have many board games, invest in a pack of playing cards and you’ll have endless entertainment out of it! [Read more →]
September 30th, 2013 · Guest Post
When you’re getting started as a business, it’s usually the case that money is tight. Young businesses are keen to get the most from the funds they have available as they make crucial decisions which will have a bearing on their future success. The nuances of each business and each industry are never quite the same, but there is always one constant factor, and that is money. Here, we take a look at several financial tips for new small businesses.
Don’t miss out on government schemes
Small businesses and start ups are usually viewed quite favourably by governments as they try to encourage growth. Particularly in the current economic climate, there can be help available for new businesses should they know where to look.
It can be tough to secure funding in the early stages and governments usually recognise this. It’s often the case that there is a scheme being run by the government to help small businesses with tough matters like this. Businesses looking for a helping hand should be sure to take full advantage of any schemes set up to work in their favour.
Stay ahead with taxes
With so many things to take care of with a fledging business, tax might not be very high up on your list of priorities, but this shouldn’t be the case. The taxes you pay as a small business should be quite fair and it is your moral duty to keep up with them. [Read more →]
There are a lot of situations that rely upon how good or bad your credit rating is. Whether or not you are granted a car loan or mortgage will depend upon the credit rating you have and even renting a home or getting a phone contract might involve a peek at your credit score.
That’s not to say that it isn’t possible to do any of these things with a poor credit rating, but it will certainly be more difficult. This makes turning your bad credit rating around an important exercise – but how can you do it?
Open a savings account
A good way to establish a good credit rating is to open a savings account. Set up a standing order from your regular current account on the day of the month you get paid and use this second account to pay utility bills and other regular payments. By putting aside a little more than you need into it every month you will build up a nice little nest egg.
Use a credit card
Regularly using and paying off a credit card will go a long way to building up a positive credit rating too. Shops often offer their own credit cards and even using these can help boost your credit rating but they often carry a high interest rate which can make them a risk.
Whilst credit rating improvements can help your financial situation it is important to select the right credit card as charges and interest varies widely.
Pay all your bills on time
Another step that will help is paying all your bills on time. Standing orders and direct debits are an effective way of managing this; just make sure they are set up at the right time of the month so that there are funds available to cover the costs.
Whilst carrying out the above steps, such as using a credit card, it is vital not to overstretch yourself. Keep a close eye on your incoming money and how it relates to your outgoing costs and make sure you don’t sign yourself up for too much. A good credit rating will help you in the future, but it’s important you don’t damage your current financial situation in the quest to improve your score.
- Post In Association With Aquacard -
Tags: Credit Cards