How To Set Up A Quick & Easily Emergency Fund

A simple little plan to start your financial journey

How to avoid a little mistake before setting up your emergency fund.

Setting up an emergency fund is really a simple process, but before you get started there is something you need to do first. And that is to make up your mind and be serious about it. Decide what this emergency fund is for. Every money account you have should have a purpose to do something.

What is the purpose of your emergency fund? Could it be a plan for your mortgage or rent payments/ a quick trip out of town due to a family emergency or an order for a town evacuation/ auto repairs or an unexpected relative shows up at your door unannounced, you get the picture.

Making up you mind and being serious will give you purpose of why you need this set up.

How to create cash on demand to fund your account?

If you are serious about saving, then I am going to show you a few tips to get you going. All of this can be done within 30 days of course, there are many ways to save money but you may have a problem because you have so many options.

The first and foremost way is to save from your income. Decide how much you need to save for that emergency, for example: let say that your car has been acting up on you but the problem is not serious yet. But once that problem exposed itself, it will cost you in the neighborhood of $500 for repairs.

That is how much you need to plan for that emergency. So decide how much you can save a pay period or monthly to reach that goal. If saving from your income is not an option right now, try this for size.

Have a yard sell or use E-bay to sell unwanted items, try pawning items you no longer want, call your creditors and advise them you are experiencing unexpected circumstances and that you need to skip a payment without any penalty.

Try reducing some of your household expenses, challenge yourself to clip $100 in grocery coupons and use them on your next grocery trip and put the $100 savings in your emergency fund.

Try carpooling for a month, with the high cost of gas today you should do pretty very well. Start a pocket change jar and at the end of each day, just empty all your change there. If you do this for a year, you will be well surprise of what you have accumulated.

Where to park your emergency fund

This money is design to be liquid, in other words you have easy access to it, whenever you need it. I do not recommence Certificate of Deposit right now because it will tie up your money, if you cash out early there is a penalty for early withdraw. Stay way from Stock, Bond or any investment with risk or that will tie up your money.

This emergency fund need to be place in a high interest saving account without monthly fees. This account is not design to make you money or use later for investments. It is a emergency fund and only that, for you and your family.

You may open up a money market account, there are many good companies out there doing a fantastic job managing your money, however; these money market funds are not guaranteed by the FDIC. You may also check with your own bank.

How much to save

One problem savers have is knowing how much to save, this is one reason why they never get started. I am going to make it easy for you to set a goal so that you can get started now.

First determine what your total mortgage payment or rent payment are. Now multiply it by three months, okay take your auto payment if you have one and multiply it by three. Add everything up and that is your minimum target goal to start with.

Why did I select your house and auto payments? Well, you need a place to live and a car to drive to get back and forth to work. If you lost your job, this will help you buy some time until you find other employment, it also slows down a possible foreclosure / eviction or repossession. This method is a minimum to get you started and once you secure these funds, you can start on other needed household expenses.

The best time to set up an emergency fund

The best time is before there is a crisis, so lets put a few coals on the fire now and put together a back up plan so that you will be ready. Use the above example concerning your house and car to start.

Are you covered on your job for short and long term disability? or do you have a individual policy? If not, talk to a insurance agent about covering 60 to 70 percent of your income. Check with your current auto/homeowners carrier first. There may be a discount for multiplies policies.

Are you a member of Triple AAA Auto Club/Allstate or your gas card program? I have been a member of Triple AAA for 12 years and I do get my money’s worth. Look into these programs.

Do you have a friend or family member who works for the airline? Do they have buddy passes that are available to you? Check this out, it could save you hundreds of dollars.

Is your credit report coughing up blood? Fine, then instead of feeling sorry for it, let do something about it. How about repairing it, start repairing it now so that if and when you need it, you would have prepared yourself if a emergency arise.

A bad credit report will cause you to pay very high interest resulting in hundred of dollars in additional payments, if you are purchasing a house, car or other high ticket items.

If you are just getting by on your income, consider a part-time job until you reach your emergency fund goal or other projects. Make additional money by starting your own business, you know the one you been thinking about for the pass five years. Now is a good time to start.

Do not max out your credit cards, pay them down, put them in a secure place. This will be your emergency line of credit. Do not use your line of credit to  buy groceries, internet purchases, furniture or going out to eat. I suggest you take a class in money management if you have a problem in this area.

Remember, our only goal here is to established a emergency fund and put together a emergency back up plan.

You now have the fundamentals to get started, you can implement this program in less then 30 days. You are the only one holding you back.

I just share with you what you need to do first, what purpose for the emergency fund, where to park it, how much you need to get started and a back up plan. There you have it, make up your mind and get started now.

Copyright 2007 – Bobby Johnson – All Rights Reserved. You have my permission to published, broadcast or distributed this article as long as it’s not modify in any way.

Significantly Increase Your Cash Profits By Using This Strategic Marketing Tip Sheet

 

How many people do you see per day? This tip sheet will give you an arsenal of people who you can market your flyers, postcards, direct mail and newsletters. This is no different from any other business except you practically have no overhead. In order for any business to survive they MUST have customers.I am going to be the first to tell you, if you don’t have customers, you will not have any business coming in, point blank! No cash flow. So if you want to be successful in your business, use the ideals here to jump start your business. Don’t let this great marketing plan sit on the shelf.

If you been having financial problems, need to increase your sales or need a incredible explosion lead generating list, well this is your ticket.

No one needs to know how you’re generating business but you. You now have the secret to success.

Here are ideals niches you can use to advance your promotion. Give your marketing material to the list below.

1. Friends, neighbors, people walking in the park.

2. PTA meeting.

3. Church meeting, pastors, deacons, church members; other churches.

4. Your hair stylist, person who details your car.

5. Best friends.

6. Business contacts.

7. Take some with you to the restaurant.

8. Parents of your baby- sitter, parents of your children friends.

9. Mail to out of town relatives/friends.

10. Place batches in high traffic areas: Malls, supermarkets, laundromats and

pass out in parking lots with permission. Bowling alleys.

11. Acquaintances, waiting on bus line.

12. Place in shoppers/newspapers.

13. Mail to a list of businesses in the yellow pages or a list to residents in the white pages.

14. Your auto mechanic, carpet cleaner, landscaper.

15. Have your friends and relatives pass them along to people they know. (Then take them out to dinner)

16. If you own a business, mail to your customer list or rent a mailing list.

17. At your next seminar.

18. Don’t throw away your junk mail, instead sent them your letters.

19. Collect business cards and send them your letters.

20. Real estate agents, homeowners, car buyers; apartment renters.

I just giving you a never ending supply of hungry prospects who need your information. You never have to ask yourself who can I send or pass a letter, postcard, flyer or newsletter to again. All you need to do is come back to your source of ideals and there you will find thousands of names, your unlimited source of profit.

Decide how much your monthly budget will be if you use mail and a print shop. Don’t mail to every list, pick about 3 or 4 sources to distribute your marketing material. Pick from the above list. You are now in control of your destiny.

You can distribute your marketing material anywhere in the world you see fit, you have no territory boundaries. This is the only marketing plan you need, do not make this hard. Just prepare your material, print and distribute, that’s all there is to it.

The more you distribute to your niche market, the greater your return. You could easily fund your retirement or make enough for that down payment on a home.  It’s now time to create a wonderful and exciting life for yourself, have fun.

Do You Make These 22 Mistakes With Your Personal Finances?

If you are worried about your financial future, you do have reasons to be concern. There are people in this world who put in over 20 years of working for someone else and cannot write a check for $5000 when they retire. You have been plague with high interest rates, consumer debt, credit cards, adjustable and interest only mortgage loans without any thoughts for the future.

I have outline 21 mistakes we make that is bringing disaster to our finances and our future. Look at the list below, if you fall into one of these situation, seek help now to fix it. Some of these mistake you can fix yourself, others you may need the help of a financial professional.

Mistake 1. Cash advances from your credit cards to pay bills and making just the minimum payment every month.

Mistake 2. Paying your bills after the due date, accumulating late fees. Your creditors loves you for this. It increases their yield.

Mistake 3. Refinancing your home to consolidate your debt just to find yourself back in debt again.

Mistake 4. Borrowing against your tax refund in the form of a (RAL) Rapid Refund Loan. This is highway robbery.

Mistake 5. Borrowing from your credit cards to pay another.

Mistake 6. You frequently borrow from friends and family, swearing you will pay them back and never do. You might be closing this door forever.

Mistake 7. You are one pay check away from being broke or homeless.

Mistake 8. Suffering from the something for nothing disease. You want to benefit without putting anything in.

Mistake 9. Taking disposals income spending it frivolously, playing the lottery or gambling, instead of investing it.

Mistake 10. Married couple working, both qualify to purchase more house, one lost a job or got sick, no savings and now both are facing foreclosure and contemplating bankruptcy.

Mistake 11. Not having a savings at all and writing bounce checks.

Mistake 12. Involved in get rich quick scheme. Giving money to investors without conducting a back ground check on the individual or company.

Mistake 13. Never establishing an emergency fund.

Mistake 14. You consolidate your bills into one payment and go out to apply for more credit.

Mistake 15. Not reviewing your credit report every six to twelve months.

Mistake 16. You frequently pawn your jewelry, DVD‘s, electronics, car title and use those payday advance loans.

Mistake 17.  Not having a financial plan or speaking to a financial advisor.

Mistake 18.  No tax planning to maximize tax deductions.

Mistake 19.  Not trying to increase your knowledge base to increase your wealth.

Mistake 20.  No life insurance planning or protection (life, health, auto, home and disability).

Mistake 21.  Not starting your business that you been thinking about for years.

Mistake 22. Having a negative attitude and being around negative people.

Now that I have outline these mistakes to you, make a plan within the next 30 days to see how you will correct them. Do not allow your personal finances to explode to a point that you could lose everything you have.

Discover The Little Know Simple Secrets On How You Can Make Money Blogging For Profits

Learn how you can hit the ground running with your blogging machine

How would you like to get a steady stream of new visitors to link to your blog page? How would you like to get paid by them while visiting? Well, you can but first let me explain The are two major types of business models that online marketers use to make money blogging.

The first and most general way to turn a blog into a profit making machine is to sell advertising to different companies and brands who want to reach that blog’s readers.

The next kind of money making blog is one that helps a single brand improve its image by creating positive links between the blog and the product in the mind of consumers. Both kinds of blogs can make a lot of money, especially if the creator has a keen mind for marketing.

If you are going to deliver blogging posts with the goal of selling advertising, there are two basic ways that you can go about recruiting sponsors who want to put ads on your site; you can let someone else do all of the legwork, or you can do the work yourself and keep all of the revenue. Within the first group, many online marketers make money blogging by selling space through Google’s AdSense program.

The advantages of this program are several, as it requires very little effort on the part of the blogger or webmaster to begin raking in profits. However, most people discover that they make less money through this method than they had hoped that their blog would earn.

Advertising directly to companies who want to put banner ads or sponsored links on your blog can take quite a bit of time, but it is often fairly profitable. If you have a lot of contacts in industries that are related to the topic of your blog, you may want to try to go this route.

Online blog users who have a strong background in sales and are experienced at pitching proposals can make quite a bit of money by renting blog space to interested companies.

The most serious problem with this model is that you often have to build quite a sizable readership before you can attract advertisers, which can mean that you have to do several months of work before you start to make money blogging.

As blogging becomes a more and more lucrative business, a lot of well know companies are considering how they can get into the money making picture. One way that companies are capitalizing on the blog society is by having blogs that provide a kind of friendly face for their corporation.

Often, a company will employ an well know skill blogger to create a weblog designed specifically to appeal to that company’s customers list and to create positive associations with the brand in consumers’ minds.

More than one writer who never even dreamed that he or she could make money blogging has been approached by a company and offered quite a pretty penny for this kind of engagement.

This world is a gold mine for the motivate person who want to start an online blogging business. There are many ways to get going, you might decide to do Joint Venture marketing whereby you will promote other products belonging to other advertisers.

 Danny Warner provides excellent information on this topic, check him out: Click Here! 

You can create membership sites, allowing your visitors to pay a monthly fee for new products that will allow them to sell to their customer list.

Turn your blog into a E-book, if your blog provides outstanding content, you may have a heavy demand for your topic. Turning your e-book into a pdf., adding a link to your click bank account could provide tremendous profits for you.

How You Can Quick and Easily Raise Your Credit Score by 150 Points

Use this simple technique to improve your credit rating fast

 

How would you like to give your credit rating a financial upgrade? Well, now you can. I am going to share with you a simple little strategy that will increase your credit score from 150 to 200 points. But first, let me tell you the mistakes you need to avoid before you get started.

If you been watching TV and saw a commercial selling cars, furniture or rent to own equipment telling you that you can re-build your credit by coming on down and sign up for their product, don’t do it that way. That is the most expensive way to re-build your credit, not to mention being tied into a two to four year agreement.

A quick way to rebuild your credit is by signing up for two to four credit card. These credit cards are design for people who currently have bad credit. They come with a credit limit between $300 to $500. That’s all you need to put this plan into action.

You are not going to purchase any furniture, movie tickets or buy groceries with your credit cards. The purpose of these cards is to re-build your credit re-rating. Here is a list of the cards I recommend that will make this plan work.

1. Orchard Bank 2. New Millennium Bank 3. HSBC Secured MasterCard 4. Capital One

Some may require a security deposit. Request an application, complete it and mail it back to the credit card company. About a month later you should have your card. Now the easy way to do this is to go by the gas station and pump gas in your car.

Look! You were going to pump gas anyway and to do it, you needed cash. So rather than use cash now, put that money into an envelope for later. Pump whatever amount you where going to pump and pay with your credit card. When your invoice comes three to four weeks later, take the money from the envelope and pay your bill. That’s it.

Use the same method with all your cards. You will see a tremendous improvement with your credit. And since you are cleaning up your credit, use other methods to remove the negatives from your credit report.

There are a few credit cards that I do not recommend. Once your credit starts to improve, your mailbox will be filled with all kinds of pre-approved credit card offers. If you are still trying to increase your score and want to apply to these offers, here is what to look for that will damage your credit again. Take out the Terms and Conditions, look where the annual fees are mention. If you see where the credit card company is requiring a participation fee, WARNING! you will be back in debt before you can come out. Don’t sign up for these cards.

If your credit limit is $300 on one of your cards and you have a annual fee of $60 and a participation fee of $72.00, you are already in the hold $132 with a available balance of $168. Some companies take the annual fee and the participation fee up front when you activate your card.

Once your credit starts improving you will see less of the annual fee. Use the method I showed you. It’s less complicated, easily to implement and a whole lot cheaper.

Never pay a process fee for a card. All you are doing is paying someone commission for mailing you a application. You can apply yourself and save your money.

 To learn how to become debt free in 3 to 5 years, go to: Click Here!

How To Avoid Five Business Credit Mistakes

 

Lets face it, you want to grow your business but realize you are at a stand still and you need additional line of credit, new vehicles, bigger building & new equipment. So you decided to build your business credit in order to grow your company.

You should grow your business but I want to point out five things you need to beware of before taking your first step. Otherwise, you may grow weary if things don’t go right.

First. Contrary to popular opinion, a bank is not going to extend a significant amount of credit to your business if your personal credit is damage. I know you have been told that you can get business credit without a personal guarantee.

That may be true with trade credit, but if your business is new to business credit, trying to acquire a Visa or Master credit cards without a personal guarantee is going to be difficult.

If your company is not producing several million dollars in sales a year and have 25 – 50 or more employees; yes! your credit will be check.

You will need to clean up your personal credit before applying for a Visa or Master business credit card. (note: who is going to grant you $35,000 in business credit without checking you out first?)

 Second. If you are planning to incorporate your business, make sure you set up your structure properly. If you set up a corporation just to acquire business credit, you may have a problem with the taxing authorities. You need to operate your business like a real money producing company.

Third. Some companies will want to check your Dun and Bradstreet profile, if this is a requirement, you will need to set this up. If you already have a Dun and Bradstreet profile, review your business credit just like you would your personal credit report before applying for credit.

Four. Before you go out and apply for a business loan and you have not establish a business credit profile, you are not going to get the loan, however; there are other sources you can tap into. Friends, family, home equity, sale un-wanted items, partnership and advertise for capital just to name a few.

 Tip: Once you have your personal credit in shape, you are going to be flooded with all kinds of credit cards offers. You can apply for these cards with a credit limited from $1,000 to $7,500.If you qualify for $7,500 on three cards, that’s $22,500 without a business plan. Sound great! ( I though you would like that tip. )

Five. Keep your personal credit and your business credit separated. Do not deposit personal funds into your business account. If you do, it shows additional revenue into your business account and therefore, you will need to write a statement indicating where the additional fund came from in case you are audit.   To learn more: Click Here!

Welcome To My Financial Blog.

Have you ever wondered why some people seem to have a knack for making money, starting a business or making smart financial decisions? It’s because they equip themselves with knowledge.

In this blog, I want to do the same for you. I want to equip you with information that will allow you to make smart money decisions. You and I will share ways to make more money, repair credit and start businesses that will provide you with income streams.

We will talk about the dos and don’t of investing, the danger signals in real estate and how to properly market your business. I have included some good links that will provide you with more detail on your quest.

Let’s face it, if you desire to improve your financial situation, that in itself will not work. You will have to act on your desire to be a winner. And to do that will require knowledge and taking action.

It wasn’t a mistake coming to this blog. The real facts about your finances will be reveal to you in the coming blogs. Together, we will avoid the pitfalls that await us. I welcome your comments and suggestions.

Let us discover the true hidden wealth in the marketplace.

Hello Wealth Builders: