Industrial Equipment: 5 Benefits Of Online Auction Sites

If you are planning to buy industrial equipment online, try out online auction sites as they offer a lot of benefits. Nowadays, whether it’s a toothbrush or heavy machinery, we can buy everything online from the comfort of our homes. Given below are some of the main benefits that you can enjoy if you choose to buy your desired machinery at an online auction. Read on to know more.

1. Convenience

Convenience is the number one benefit of using an online auction. It doesn’t matter where you live. All you need to do is place your bid. Since you can search for your desired machinery online, you don’t need to leave your house. You can do your research whenever you have time to find out the required information.

2. 24-hour Access

Another great benefit of online auction sites is that you can place your bid at any time of the day or night. You may think it’s not a big deal, but it’s a great benefit. Timezone won’t be a hurdle in your way, which means you won’t miss out on an opportunity just because you live in a different timezone than the seller.

3. Instant Feedback

Instant feedback is another benefit you can enjoy if you choose to use an auction site. It can be painful to find out if your offer was accepted. If there are a lot of offers, you may have to wait for several days for feedback. If you do your business on the Internet, you can enjoy instant feedback.

4. Budget-Friendly

If you are on a budget, you can save plenty of time and money by using an auction site. Since buying industrial equipment is a huge investment, you have to shop around to make sure you choose the right type of machinery. If you choose to buy online, you won’t have to travel to a lot of shops.

This is a huge benefit, especially if you are going to import the machinery from a far away destination where you can’t go because of your busy schedule.

You can save a good deal of money by reducing your traveling expenses. Now, you don’t need to spend on gas and roadside dinners.

5. Variety

When we buy something, we tend to choose from a variety of that product. This makes it easier for us to get exactly what we want. This is another huge benefit that you can enjoy if you head to an online auction site to buy industrial equipment.

Since online searches don’t take more than a few minutes per day, you can easily find out what you need without spending a whole day. On auction sites, you can choose exactly what your business needs. All you need to do is use the filter feature wisely.

The Takeaway

So, these are 5 benefits of buying your desired industrial machinery at an online auction. Just make sure you choose a reliable online auction and use the filter feature to see the list of relevant machinery only.

The Top Three Benefits of Hiring A Virtual Assistant

Now a day online marketers are growing as well as most of the businessmen and companies are depending on technologies with the help of their Virtual Assistant which outsource the different task of their clients to make their life easier. Since a large number of people are using the internet, the demand for outsourcing individuals are also increasing. Hence, it implies that most of the employer classified their prospect based on their experience and expertise in this industry.

As soon as their business starts to grow, they will soon to have problems with organizing, planning, meeting new clients as well as improving their strategies to promote their products.They will soon in troubles to meet the needs of a person who will ask for their service producing according to it’s demand. By doing the task alone it will consume a lot of time and efforts, can even ruin your time schedule to your kids and wife it will put a gap on your relationship to them because you are being too occupied with your work. So who doesn’t want this things happen to them they come up with a solution to outsource a Virtual Assistant to do the job.

Save Your Time
Offloading worked and time-consuming task, explore new business opportunities while meeting new clients and spend your time with your families.
Indeed, you will have more time with family while your business is growing without a hectic schedule. You give a task, and someone will do it for you. It will save your precious time which you can go for a vacation you always wanted to because you trusted a Virtual Assistant that can do the task for you.

Saves Your Money
Considering your expenses if you are going to hire an employee with a different task and pay them according to their duties. You are even required to pay their benefits for each employee who will work with you. Any accident that will happen to them inside your office you have to pay the cost as one of your obligations as their employer. Daily supervision is needed to be sure that they are doing the task and if you are lack of time to supervise, you would need another person as a supervisor that will look after them. But unfortunately that requires additional money, and you are obliged to pay for that person you hired.
While outsourcing a virtual assistant, they don’t need a contract and even any benefits from you. They will do a similar task as a regular employee can do.

Reduce Operating Cost
Virtual Assistant is cheaper than hiring a regular employee. Aside from that, they are going to work at home, so you don’t have to worries your expenses on renting an office as a workplace, and they can perform different task whether it be researching online or improve investment of your business. You don’t need to do a contact since Virtual Assistant outsourcing will work with you as long as you like them to work.

Developing Authenticity and Effective Leadership

The concept of authenticity has its roots in Greek philosophy: ‘To thine own self be true’. Authenticity has been described as the unobstructed operation of one’s true, or core, self in one’s daily enterprise. However, dangers arise if people assume that their personal values take precedence over other standards. Some assume that this justifies unprofessional behavior, e.g. personal criticism of colleagues rather than simply focusing on the issues. This undermines professionalism and can quickly contribute to a loss of motivation and breakdown of trust.

The assumption that ‘our way is the best way’ is invariably a limiting and potentially damaging viewpoint. In organizations, problems can emerge when systems are inadequate and managers lack the conviction required to surface problems and confront dysfunctional behavior. The success of any organization can then be threatened by leadership failings that include poorly designed systems, resistance to feedback, and inability to anticipate changing requirements. The shortcomings include a lack of personal conviction, which is important when dealing with unacceptable behavior.

Effective leadership builds on four core elements of authenticity. People who are regarded as ‘authentic’ demonstrate higher levels of self-awareness, insight and openness, and the ability to achieve ‘balanced processing’ of information.

Self-Awareness

This involves understanding your unique talents, strengths, sense of purpose, core values, beliefs and desires… are you open to new ideas, and receptive to feedback that helps you maintain and develop this insight?

Balanced Processing of Information

Effectiveness builds on a willingness to consider multiple sides of an issue, including other people’s views. Are you able to recognize that you may not see or appreciate all the issues?

Relational Authenticity

Trust develops when there is openness and truthfulness in close relationships. We can use selective self-disclosure to acknowledge that we’re not perfect. How well do you build trust and appear genuine when working with others?

Authentic Behavior / Action

This involves responding to situations in a way that is appropriate, in the context of your role, whilst respecting your core values. Do you behave (as far as possible) in a way that is consistent with these values? Important themes are explored in Seven Principles for Exceptional Performance.

Authentic Leadership is based on the idea that through increased self-awareness, self-regulation, and positive modelling, authentic leaders foster the development of authenticity in followers. The theory suggest that Authentic Leaders draw on their positive Psychological Capital or ‘PsyCap’ to make clear to others what is required and generate positive energy. They create meaning and a genuine sense of purpose, so that others develop a sense of personal ownership and become ‘stakeholders’ in the activity.

Evidence suggests that exceptional performance also requires additional steps. These include ensuring adequate support/resources are in place, and encouraging discretionary effort by involving people in developing and implementing solutions to problems. Use of 360 degree feedback, coupled with awareness of the Seven Principles for Exceptional Performance, build on the four elements of authenticity and help develop overall effectiveness.

The Investment Mistake Otha Anders Made

In 2015, an elderly Louisiana gentleman cashed in at a nearby bank, a truckload of 55-gallon plastic water jugs of pennies that he had collected over the previous 45 years. After the last penny had been counted, Otha Anders received over $5,130 as the total amount for his pennies. That’s over 510,000 pennies. To the general public, this news probably sounded wonderful, but to every American numismatist who collects and buys coins for fun and profit, Anders lost a lot of money.

According to the News-Star of Monroe, La., Anders referred to each of his pennies was a “God-given incentive reminding me to always be thankful.” In Anders case, however, a “penny saved” may be more than “a penny earned.” Many of those that he cashed in to get instant money, would have been worth more money.

Since Anders began his penny hoarding in 1970, he would have picked up many “wheat” pennies that the Mint struck between 1909 to 1958. Even today, there are still many “wheat” cents in penny rolls and circulating change. When he started saving in 1970, he would have found many wheat cents in great condition. Over the last 45 years, most of each of those pennies would become more valuable than one cent.

According to the “Guide Book of United States Coins 2015” by R.S. Yeoman, wheat cent values ranged from $.10 in “good” condition to several hundred dollars in “almost” uncirculated condition. Also, the guide records a few extremely rare pennies that were worth up to $5,000 in uncirculated conditions. However, it would be impossible to estimate how much the numismatic value of the entire collection might be; each coin would have to have been examined by reputable coin dealers who could have helped him sell his collection, but it’s easy to imagine Anders would have made over $20,000 if he had had the patience to get them evaluated.

In addition to numismatic value, there is a precious metal value for the price of all of the coin’s weight in copper. All American copper coins struck until 1981 contained 95% copper. According to the “InvestmentMine” website, in 2015 the average value of copper was $2.86 per pound. All of Anders’ pennies together weighed over 2,800 pounds. So, if he picked out all of the coins, we’d multiply 2,800 pounds and 2.86 the sum in copper would have been a total of roughly $8,000. However, a conservative estimate of the number of pennies made of copper was 75%, we’d get about $6,000, which is about $900 more than he received.

Although Anders received over $5,100 for his enormous collection, he could have gotten much more if he took the time to get all of them evaluated by a trained numismatist. However, the good news is that if you live in or near Louisiana, you could buy many rolls of pennies from local banks and probably find some of those higher valued wheat cents.

Top 7 Things to Consider Before You Start Investing

Be it investors, potential investors or general public who is looking to start investing, everyone gets excited the minute they have extra cash on their hands and one of the usual plans is to invest it for quick profits. People want to start making their money work for them and that’s a very understandable and rational thought but sure enough one needs to be practical about their finances as well. There is a lot of due diligence and groundwork that goes into understanding the financial markets before one must start investing and it’s for their best as well!

An investment making company will generally help you get started with your investment and offer you end-to-end insights into how to make more money and how to invest money to achieve your financial goals. However, there are a few things you as an investor must consider before approaching any Asset Management Company or getting started on your investment journey.

Here are the top 7 things one should consider before they start investing to make more money:

1. Pay Off Prior Dues

No investment can start without you actually being done paying off your dues and clearing your credit. A clean slate for all your debts is very essential to begin investing stress free and focusing on returns.

2. Create Cash Emergency Fund

Before you start investing it is very important for you to have a separate cash fund prepared just in case of emergencies. There is no questioning the volatility of the market and you can’t really depend on redeeming from market when in dire need. Having an emergency fund lets you start your investment journey with a bit more ease.
3. Create Financial Goals

One of the most important questions often asked is how to invest money and earn quick profits! However, there is much more to investing than just expecting returns. It is equally important to have your financial goals set it place and invest accordingly. Be it buying a dream home, car or saving for retirement, an investment making company will know exactly how to help you get started.

4. Understand Financial Instruments

There are tons of financial instruments in the market which offer numerous benefits. The bigger question often is what you as an investor wish to achieve, quick profit, long term stability, lesser risk or just saving for the future? It’s not tough to make more money with your investments as long as your priorities are already quite clear.

5. Due Diligence on Investment Options

Asset Management Companies have a variety of financial instruments that an investor can pick from and ensure that they make more money. If you want to know how to invest money wisely on the other hand then it is best if you do your due diligence on all the financial products in the market and then make an informed decision to earn quick profits.

6. Research on market trends

How to invest money wisely is indeed a question every investor should be asking themselves or the investment making company who is helping them build a portfolio. Keeping updated about the market, staying on top of news in the world markets and knowing the current business trends makes it easier for the investors to pick their financial instruments for investment.

7. Evaluate your risk bearing capacity

Every individual has their own risk bearing capacities. An investment making company will often ask you the risk level your profile fits in as an investor as it helps them decide where and how to invest money and earn quick profits. How to invest money is often a question answered at the expense of how much risk are you willing to take for the same,

As simple and lucrative investing and making quick profit sounds, the truth is that unless you have a foundation in place and thorough research to build up, your investment portfolio won’t be solid.

Asset Management Companies are there to help investors with their portfolio, right from researching and investing to managing and reinvesting investors’ wealth. If you are new to the world of investing then these pointers will make sure that it doesn’t seem intimidating anymore!

Using Anecdotes in Security Training

The skill of storytelling is one of the most successful methods of conveying a message. Public speakers, teachers, and mentors draw on personal experience to relate to their audiences. Performed with skill and confidence a story can enhance training by making tasks teachable and relatable to the audience. However when the message is misrepresented or poorly delivered with bad storytelling, the messenger becomes the focus as they lose credibility and the good message is obscured.

Storytelling for the purposes of this article does not necessarily mean creating a work of fiction or spinning a tale. The term storytelling is used as an example to assist with creating a logical flow of tasks conducted to complete a function. For example, a bad story teller may say, “protect classified information or else you could be fired or worse.” A good story teller will convey the task of introducing, using, storing, and destroying classified information throughout its lifecycle in a logical sequence. They could do so with such relevance that it is easily applied within the company culture.

The Story Setting

The speaker who speaks with or trains and audience of peers or having similar skill sets, gain almost instant credibility. The same profession, the same topic, and the same faces most often makes it unnecessary to cultivate a relationship from scratch. Everyone already has something in common as they share like interests. This setting can occur in a professional organization or club where everyone has a similar skill set or hobby.

On the other hand, a speaker who discusses topics to an audience of various expertise may have a harder time relating to their audience. For example, a college night school teacher may have an audience of skilled laborers of various disciplines and the only thing they have in common is the text book. In these instances, the speaker relies on their expertise in the subject matter and anecdotes to make the subject material relevant or teachable. It would be ridiculous for this speaker to try to engage in a topic they know nothing about. They will simply lose credibility the first time they misuse an anecdote.

Applying Story Telling to NISPOM

Beyond supporting a common corporate culture, a Facility Security Officer (FSO) could have difficulty conveying a message of protection to those who use classified information for a more specific purpose if they do not discover common ground. While the FSO is an expert at NISPOM, the engineer or practitioner is an expert at how the classified information is used. So what can an FSO do to create common ground and use that common ground to develop training anecdotes?

I’ll use a personal story. A few years ago I was invited to speak at an NCMS local chapter event. I wanted to discuss program protection, but went in heavy on explaining National Industrial Security Program Operating Manual (NISPOM) requirements. The briefing charts I developed just dripped with NISPOM requirements and I used the requirements to demonstrate the application and need form program protection planning. I thought I had a good presentation, but wanted to verify with a colleague.

His assessment was truth, but not what I wanted to hear. His explained that my message was wrong and I risked losing my audience. What I had inadvertently done was assert myself as a NISPOM expert when in reality I should be showcasing my program protection experience. He rightly pointed out that the room would be full of NISPOM experts that could argue any NISPOM topic interpretation to the detriment of my presentation. He further explained that the NISPOM could be our common ground, but the majority of the presentation should reflect my program protection expertise and get buy in on NISPOM interpretation. Thankfully I listened, resulting in a successful presentation and great question and answer sessions.

Establishing Credibility

FSOs are the experts at NISPOM and how to apply the classification management guidance at the cleared contractor facility. Cleared contractor facilities are required to designate a capable person to conduct the duties of the FSO. This can be interpreted as the requirement to pick an existing employee to perform the additional duties as an FSO. It can also be interpreted as the requirement to hire an additional person to conduct full time duties as an FSO.

Appropriate message

The primary purpose of the FSO should establish their credibility with applying NISPOM guidance to the defense contractor facility. In some situations where the FSO is a designated task bestowed upon an existing executive, engineer, or other professional, the FSO may be an expert in the development of a weapon system. They are an expert in the weapons system and may be able to beautifully weave security anecdotes into the fabric of weapon system development. In this situation, it would be a mistake not to showcase the expertise as a system engineer to relay the importance of apply security task to protecting classified information on the specific system. Every attempt should be made to discuss intimate details of performance, cost, and schedule and convey the security message while doing so. Being an expert in security and weapon system development and telling the story accurately using technical language and engineer speak will help fellow weapon system designers better apply security to protect classified and export controlled information.

On the other hand, a non-technical FSO attempting to lecture the engineer on specific details of the unfamiliar task of developing software would not be wise. Any attempt to do so could result in loss of credibility as terms might become misused or tasks communicated in a way to insult the professional. In this case the non-technical FSO could conduct security training and security tasks with the frame of reference that they are the experts at NISPOM guidance and the engineers are the weapon system and development experts. Together as a team they can develop an effective security program to protect classified information.

In the second scenario the FSO can establish credibility as a security expert and create captivating stories using the common ground of working in a cleared defense contractor facility and the facility’s core culture. Where the audience is made up of scientists and engineers, there is no need for an FSO to attempt to discuss areas they are not an expert in. This could unfortunately provide an opportunity for the audience to argue the FSO’s level of understanding of the weapon system outside of the scope of the security discussion.

The art of storytelling should be used in communicating the security message to help make it easily digestible to cleared employees. Storytelling is simply finding and using common ground to establish training or develop a culture in a relatable and logical flow. This is a great skill to practice and develop to help implement security programs to protect classified information.

Doing A Personal Financial Assessment

In order to reach the top of the real estate investing mountain, you’re going to want, and need to utilize all the tools available to you in your financial tool belt. While you can theoretically build a house with just a few tools, the quality of the house can suffer if you don’t have certain specialized tools at your disposal. The same holds true when you’re trying to finance your real estate transactions.

First, a key truth in real estate: You don’t need to have a sterling credit record or access to a ton of cash in order to make a fortune as a real estate investor. But you’ll reach the real estate investing Promised Land much more quickly if you do.

Because your ultimate goal is to create a thick real estate portfolio, and a large residual monthly income that comes in regardless of whether you decide to pull yourself out of bed every morning or you choose to sleep in, you will want to ensure that your finances are in a maximum state of health. That requires you to give your finances an intensive check-up, much like your personal physician would do to ensure that you’re the picture of good health.

Step One: Get in the Right Frame of Mind

The most critical step of analyzing your financial situation lies in realizing that the way you approach money and financial decisions plays a massive role in your ultimate success or failure. If you have a proven track record of shooting yourself in the foot with bad financial decisions, it’s imperative that you do a radical about-face and change your spending habits.

If you waste a ton of money on music downloads, splurge daily on over-priced gourmet coffee, or you are on a first-name basis with the greeter at Walmart, I have a newsflash for you: Your budget has more pork in it than a Congressional spending bill. By cutting much of the waste out of your personal economy, you can generate cash out of thin air that you can use for much better purposes than instant gratification. Instead, you can change your life for the better. But the choice is yours alone to make.

Step Two: Relentlessly Cut Expenses

When you’re done paying bills at the end of the month, do you usually have cash left over, or do you tend to spend everything within a day or two of payday – and then limp through until your next paycheck comes in? Most people spend the lion’s share of their paycheck on bills, food, and other necessities. If they’re lucky, they are able to set a few dollars aside for a rainy day. The difference between those who have control of their finances and those whose financial life is in disarray, is that having control involves taking control, and keeping control. While many people have trouble increasing their income, it is possible to reduce spending. In order to do that, you need to get a handle on your expenses and identify areas of your budget that can be trimmed back. While this isn’t the sexiest topic of conversation, it’s absolutely vital to your ultimate success as a real estate investor. Budgeting for monthly expenditures and spending only what is on your list is one of the most difficult aspects of taking control of your financial life. By eliminating unnecessary expenditures, you’ll reach your goals more quickly. Here are a few ideas to get you started:

Gut the Cable Pig: That’s right; cancel your cable. You’re constantly complaining that there’s nothing good on anyway, right? Instead, talk to your spouse, take a walk, listen to a podcast or read a good investing book.

Cut Your Cell Phone Plan Down to Size: Most people load up on costly and wasteful cell phone package deals. Unlimited texting, mobile web, and massive calling plans are great, but most people don’t use all of their phone’s features. Do you need mobile browsing, or is it just a toy you use to watch YouTube videos when you should be doing something else? Do you need unlimited texting, or can you give your thumbs a rest if it will save you $20 per month?

Go Through Your Credit Card Statement: See if you have any recurring charges each month. Are they items that you need? You may even have some small charges each month that you forgot about signing up for. Eliminate the one’s not needed and keep up on them to make sure you aren’t throwing money out the window.

Stay Out of the Drive-through – Your waistline and your wallet will thank you. These often-daily trips to McDonald’sand other fast food joints are killing your health and your budget, sometimes to the tune of $5-$10 per trip. This goes for coffee as well. Caribou and Starbucks are tempting, but do you really need to stop for a $5 cup of coffee each day, or would you save money by making some at home?

Step Three: Pay off Excessive Debt

Another area that’s probably holding you back is excessive debt. High credit card balances, store charge card balances, and computer payments are a fact of life for millions of us. However, if they’re holding you back financially, they need to go the way of the 8-track tape and join the growing list of things that once had a useful purpose and no longer do. Make extra payments, have a yard sale, or do whatever else it takes to eliminate excessive debt. If you can’t find the cash to pay off some of these accounts, consolidate them, or at least make larger payments. If what’s in your wallet, credit cards, are consuming too much of your cash, it’s time to take control and protect your financial interests. Nobody else will.

Step Four: Check Your Credit Report and Score

What’s your credit history like? Do you have a long track record of consistently paying your bills on time or do you tend to pay a lot of your bills late, if at all? If you are like most people, your on-time bill paying record is somewhere in the middle. The first step in making that determination is to examine your credit report and to find out what your credit score is. Once you know those details, you can get to work improving your credit and positioning your finances to take advantage of real estate opportunities when they present themselves to you. The good news is that you won’t have to spend a small fortune obtaining your credit report. The Federal government, for once, finally had a pro-consumer idea that makes sense. The three major credit reporting agencies, Experian, TransUnion, and Equifax have teamed up with a single website www.annualcreditreport.com that allows you to get your credit report once per year for free. Whether you get all three at the same time, or you stagger them so that you examine a different one every four months, is your choice. The important thing is that you get these reports and see what information is on them. They will have the majority of your credit transactions on them, as well as any charge-offs, late payments, etc., along with your current balances. If you find that your report contains errors, omissions, or fraudulent accounts (accounts listed in your name that were opened by somebody other than you), there is a mechanism in place to correct these entries. Because your ability to borrow money, and the interest rate you’ll pay, hinges upon the accuracy of these reports, it’s in your best interest to ensure that the story your credit report is the truth. While you may not get free credit scores with your free credit reports, it’s still important that you have an accurate understanding of your current credit score as part of a comprehensive examination of your finances. You’re much more than a number, but to a potential lender, numbers are all that matter. If your FICO score is too low, your chances of getting a loan approval are reduced. This knowledge will allow you to act decisively in improving your credit score, and the rate and terms you can demand in all your financial transactions.

Step Five: Increasing your Income

You have two choices in increasing your income: work harder at your job or find an entrepreneurial opportunity that can put you on the path of financial success. Real estate investing is a proven method of creating wealth, residual monthly income, and life-changing opportunity.

Success Secret Formula For Work Online From Home

You can achieve success in working online at home; there’s more you need to do than have a pc and a secure online connection. Bear in mind this startup is different from the typical office environment. You want to make specific alterations on your driving style, program, and sometimes even mindset to guarantee productivity. You will find distinct technical online guides that could enable you to work well. Listed below are just six of these.

1. Have a certain workplace. The workplace is sometimes a spare space anywhere in your home or area in the bedroom. One thing you need to bear in mind is that your office or home office should permit you to work with minimal if any distractions. It needs to be well-lit and so – trained and broad enough to accommodate your additional gadgets. As soon as you’ve identified your office, orient your loved ones about it and ask them not to trudge in if you’re working.

2. Ascertain your operating hours. Even though there are online tasks that ask that you work during specified hours, even a few articles enable you to operate at any given time of your day. Pick the time when you’re productive and be quite disciplined. The same as at a corporate workplace, you aren’t likely to leave your job if you feel like it. Remember, you ought to keep a professional attitude without a maid supervisor or officemates.

3. Set daily goals. Doing this will allow you to determine your priorities and permit you to handle your own time. Write your aims in a diary and see whether you can accomplish them at the end of the working day. Without outlining your common objectives, you appear to be shooting and may accomplish nothing in the long run.

4. Eliminate online distractions. There are lots of them actually –social networking websites, video streaming websites, downloading websites, among several other things. Not only is it slow down your pc, but they’re also able to take a lot of your own time. Consider that, the entire 30 seconds you spend viewing a movie is potentially the same quantity of time that you want to type a single thousand-plus word. And you do not need that substantial reduction, do you? It is not that you’re not permitted to stop by at least one of these websites. It is you need to make decent use of your operating period and be as successful as possible. Bear in mind; there is a suitable time for drama.

5. Take a few breaks. Another extreme trend in getting a work-from-home online task is overworking. That is because labor is right within reach and it’s more straightforward that you spend additional time doing this than relaxing. Working too much isn’t the means to do this since this can burn out you. Rest if you will need to. Take your meal punctually. Consuming coffee breaks. Have a day away.

6. Go out frequently. Ever since your job today requires you, a pc, and a digital community, you want to interact and become connected with individuals. You, for example, go for a movie with your very best buddy or even a slumber party with your previous officemates. Never devote an entire week locked from home; find a means to spend no less than a day someplace.

When these guides can allow you to work well, a lot of your success in working online from home nonetheless is dependent upon your commitment, determination, and patience.

Let Us Help You Spring Clean Your Finances!

Since spring has sprung we are taking every opportunity to open our windows and let the fresh air in. Most of us start cleaning out the garage, clean off the outdoor furniture and pack up our old clothes to donate to charity. Why should spring cleaning end with your home? This is the perfect time to tidy up your personal finances as well. Consider these recommendations to “clean” up your finances.

Contribute to your 401(k). Make sure you contribute enough to your 401(k) to qualify for maximum matching funds. Your employer is willing to give you this free money so don’t leave it on the table.

Open and IRA. If you own your own business or work for a company with no retirement plan, open an IRA. You can get big tax breaks from opening this type of retirement plan. If you don’t know which IRA is right for you, you can search “Types of Retirement Plans” at irs.gov.

Rate check your credit cards. The interest rates on your credit cards can have an impact on your balances and have the potential of adding up over time. If your interest rate is increasing your card balances, it’s time to shop around to find a lower rate. Other items that are options for rate checks are mortgage loans, auto loans and even your checking and savings accounts. For a real feeling of gratification, pay off the balance that costs you the high interest. If you want to zero our your balance by the end of the year, divide the amount owed by 7 and pay that amount every month. Can’t bite off that much every month? Move the balance to another card with an introductory rate and pay it off before the deal runs out. Make sure there are no high transfer fees.

Open a savings account. Follow these three steps when opening your savings account:
1. Set a financial goal and timeline.
2. Decide how much to save each month to help you reach your goal.
3. Setup automatic transfers into your savings plan from your checking account. This way the transfer is done for you and you won’t miss the money.

Review your credit report. Make sure your credit reports are free of mistakes. Remember, you are able to order one free credit report every year from each of the three major credit bureaus. You can get one free of charge from annualcreditreport.com.

Organize or discard old financial documents. Sort through all your bank statements, invoices, bills and other financial records and keep those that are only necessary. Be aware you need to keep tax returns, canceled checks, receipts and any supporting paperwork for your taxes for at least six years. Make sure you don’t just trash your important documents in the trash without shredding them. You don’t want them to be picked up by an identity thief.

Set up automatic bill pay. Spring-cleaning just isn’t about de-cluttering. It’s about making your financial life more efficient. Set up automatic bill pay and link it to your checking account in an effort to eliminate any chance of missing a payment and paying late fees.

Review your budget. Take a close look at your current budget and decide if you need to make any changes.

Pay off as much debt as possible. Spring is a good time to review your outstanding debts and which loans or credit cards you could pay off. If nothing else, develop a stricter payoff plan. Cleaning up your outstanding debt quickly will put you in a much better financial position for the rest of the year.

Record your financial passwords and store all your records in a secure place. Make sure you’re not using the same password for all your financial accounts. Protect yourself against identity theft by protecting your passwords and other financial documents in an online secure vault.

Be a community steward. Try and make a difference in your community. Believe it or not, giving of yourself to others will make you feel a lot wealthier.

Planning For Emergency Financial Situations

Emergency financial situations can happen to anybody and any financial arrangement exercise is not ideal without planning for such occasions. The whole idea of having an emergency fund is to offer a cushion against any unexpected expense.

This will ensure it does not have any negative impact on your financial condition and does not rip off the whole financial security.

There are many circumstances which can cause a financial emergency such as a sudden illness, accident, medical emergencies, emergency house repairs, loss of a job, emergency car repairs and much more.

The major reason for having an emergency fund is very clear because when a person falls into an emergency financial situation, they will have to break their savings or make a compromise to get the needed money.

It’s not rare to find people who just take out their credit card and swipe it for hard cash. Opposing popular opinions, credit cards are the worst way to fund any financial emergency. The fastest way to get thousands of dollars its to get a car title loan it is not a long-term solution but a short-term solution.

In a circumstance where you’ve taken a cash advance with your credit card to get the needed money, the credit card company will charge you a cash advance fee with an interest rate. This is a very costly way to borrow and manage finances for emergency situations.

Therefore, what is the best amount that should be set aside as emergency money? There are diverse opinions on it. Some professional’s experts agree that a minimum of 3-6 months’ worth of monthly income should be set aside for an emergency situation. This amount can differ according to marital status, the size of family and lifestyle.

Everyone must reserve some extra cash in case of emergencies. But, the amount to reserve depends on your income and monthly expenses. The amount that is needed for your emergency fund is open to debate, the minimum amount should be sufficient to cover your expenses for daily living for at least 3 months. It’s also ideal to save for 6 months even though some financial advisers agree on a full year worth of cash.

These funds must be kept aside in an instrument, which is easily available when needed. It could be money in a bank account, hard cash, liquid funds or fixed deposits. This will ensure the fund is always accessible instantly or within a short period when it’s needed.

Where to Keep the Cash

Your situations and what can offer you peace of mind are the factors that can help you determine how cautious you want to be. Keep your emergency fund somewhere that is safe and accessible because you may be required to get the cash in a hurry when an emergency arises. The best option you’ve is to open a money market account or savings account. But, always examine their offer with regards to the interest rate, minimum balance, and other terms.