50 Plus Finance

Sunday, December 2, 2012

Review Of Discover More Card – 18 Month 0% APR On Balance Transfers

The Discover More Card – 18 Month Promotional Balance Transfer offer is a great time-limited promotion only for new sign-ups in the US. For those of you who want to consolidate your high-interest credit card debts or store card debts and want to stop paying any interest on them, listen up. Australian readers can get 15 months balance transfer here https://www.hsbc.com.au/1/2/personal/credit-cards/balance-transfers

0% introductory APR on all your purchases. You will also enjoy the benefit of having a 0% introductory APR on all your purchases for 6 months, after that you will have to pay the regular APR, which is between 10.99% – 20.99%, depending on your credit score. Remember that even though you’re in an introductory period and your APR is 0%, you should still make all your payments on time.

Earn 5% Cashback Bonus in rotating categories. Unlike many other 0% balance transfer cards, this card offers you cash rewards when you make purchases with it. It can help you save a lot of money by giving you 5% cash back in rotating categories such as gas, travel, restaurants, etc, which change throughout the year. Important note: You must enroll for each 5% program every quarter! If you spend more than the specified amount for each 5% program, the excess will automatically earn up to 1% cash back.

Receive up to 1% unlimited cash back on all other purchases. You will receive an unlimited 1% rebate on all the rest of your purchases, but only once your total annual purchases exceed $3000. Purchases that are part of your first $3000 earn 0.25% rebate. Keep in mind that warehouse purchases or 5% category purchases do not count towards your total annual purchases.

Some of My Favorite Things About this Card

Redeem Cashback Bonus for gift cards, merchandise, or cold hard cashin the form of a direct deposit to your bank account or a credit to your Discover card account in $50 increments, starting at $50.
Get up to double Cashback Bonus. You can earn up to double Cashback Bonus when redeeming your rebates for gift certificates from participating retailers. To give you some examples, a $40 rebate can be redeemed for a $80 Carnival Cruise or $80 Celebrity Cruises gift card or instant eCertificate; a $40 rebate can be redeemed for a $100 certificate from Hyatt Hotels & Resorts; a $20 rebate can be exchanged for a $40 Samsonite gift card!
Rebates don’t expire. Your rebates never expire unless your credit card account is inactive for more than 36 months.
Earn rewards for paying your monthly household bills with your card. Set up automatic recurring payments for your cable, cell phone, insurance, internet etc on your Discover Card, and you earn Cashback Bonus with every bill you pay!
Travel insurance. This credit card can also be very useful for your travels since it provides up to $500,000 in travel accident insurance, as well as car rental insurance and many fraud and security protection services.
$0 Fraud Liability Guarantee. If there are any unauthorized transactions on your Discover card, you won’t have to pay a single cent for it!

My Least Favorite Things About This Card

Only receive 1% cash back if you spend more than $3,000 a year. You only start earning the 1% rebate on all your purchases after you spend more than $3,000 during the year. So if you’re not planning on spending so much money, you will get a smaller amount in cash back percentage.

This Discover More Card – 18 Month Promotional Balance Transfer is, without a doubt, the best rewards card in the US that offers the longest period (18 months) of 0% intro APR on balance transfers. This is a promotional card offer that is only for NEW sign-ups who apply. For those who want to consolidate their high-interest credit card debts or store card debts, you should take advantage of this offer because it means you don’t have to pay any more interest on your existing card balance, and have up to 18 months to repay it all – interest free! Not only will it save you tons of money, you will also become debt-free faster.

The Discover More Card – 18 Month Promotional Balance Transfer is also a rewards card, giving you cash back whenever you make purchases or pay bills with this card. This lets you save even more money. With no annual fee, you have even more savings, and have a lot to gain from having this card.

This is not a permanent card offering, so don’t miss it if you want to take advantage of the 18-month 0% balance transfer deal. Apply online for the Discover More Card – 18 Month Promotional Balance Transfer, and you’ll get a response within 60 seconds. Also be aware you must have a credit rating of "Excellent" to be approved for this offer.

Apply Now for the Discover® More Card - 18 Month Promotional Balance Transfer

How an IVA Can Help With Debt Problems

Wipe our Debt (Photo credit: Images_of_Money)

An IVA is a scheme that allows you to clear unsecured debts which you can no longer afford to repay. It doesn't apply to secured loan or any hire purchase loans, which can often be lessened by returning the original asset.

An IVA helps you to find your way out of your problem debts by allowing you to repay a single affordable amount each month, with an agreement that after a fixed period of time, which is usually 60 months / five years, any remaining debts will then be written off.

No matter who you’re in debt with, finding the right debt solution for you means you may never need to communicate with your creditors directly. It can be done for you and look to negotiate repayments based on your affordability, depending on which debt solution you choose. This removes the hassle of having to do this with multiple creditors.

The scheme was created by the Insolvency Act of 1986, which was designed to help both people and businesses avoid the threat of bankruptcy when their debts become unmanageable. The IVA scheme has been used by thousands of people in recent years, who have successfully used them to deal with their mounting and problem debts and become free from debt at the end of the five year period.

How is an IVA managed?

An IVA expert will manage the process for you. Insolvency practitioners (such as those found here: https://freshstartltd.com/) will deal with all of your creditors and negotiate a deal. When the IVA plan is in place, you won't be hassled by your creditors anymore, which can be a real relief to those who have struggled with demand letters and phone calls. Instead, you repay a fixed sum via your insolvency practitioner each month and it's an amount that you can afford. The IVA practitioner deals with the paperwork and your creditors, which takes the administration away from you.

Other benefits of the IVA scheme

As well as making sure that your unsecured debts are fully cleared and written off in five years, the IVA scheme is designed to protect you from legal action and also prevent you from needing to become bankrupt. It also protects your assets, which means that you won't have to sell your home, which can be the case with bankruptcy. The IVA is a legal agreement, which means that your creditors have to act by its terms as do you. The IVA will pick up all of your different unsecured debts, even if a number of your creditors don't agree with the terms of the proposal. Only 75% of them have to agree with the proposed repayment scheme and the IVA practitioner, who is managing your IVA arrangements, will organise this for you.

Is the scheme for me?

It's vital to get IVA help advice before entering into any financial arrangement, as the IVA scheme isn't suitable for everyone and circumstances must be discussed on an individual basis before making a decision whether to enter into the scheme.

For example, you must be able to commit to meeting the agreed and affordable monthly payment, every month for five years, or the scheme will fail and bankruptcy will generally be the final stage. A debt advisor can look at your individual circumstances and provide you with advice that is right for you and work together to find a solution. There is always a way out of debt, be it via the IVA scheme or another route such as bankruptcy. The first step is to speak to the experts and find out which solutions are available to you. Don't delay - take the first step to dealing with your debt worries and get your life back on track.

Written by Jamie for more info see Iva help & advice.

Saturday, December 1, 2012

How to Make Money as a Chef?

Chefs in training in Paris, France (2005). (Photo credit: Wikipedia)

The competition in the food industry is very tough. If you have exceptional cooking skills, training, and education, you can become a chef. Instead of applying for a chef or cook position at a local hotel and restaurant, you should consider becoming self-employed.

With an independent career, you will need to work hard and you should have the right attitude. It is an added advantage if you were able to finish a degree at a respectable culinary school. You need to have the passion, love, and interest for food. Aside from this, you should be willing to commit yourself in your profession. Keep in mind that becoming a chef and making money from it takes time. Part of being a successful chef is about experimentation and discovery. Chefs must be willing to learn new things and try something new.

To make money as a chef, you can become a freelance caterer. Many people these days prefer to hire caterers instead of preparing their own foods. As a freelance caterer, you can cook for private parties, wedding receptions, showers, business meetings, corporate events, and many others.

When it comes to promoting your business, it is very easy. Word of mouth is the fastest way to create a buzz about your catering business. If you can cook great tasting foods, you will be highly recommended by your clients. Even guests to the events you've catered to can also hire you.

To succeed as a chef and make money from it, you should know how to address dietary concerns like vegetarianism or those with diabetes. Be sure to keep in touch with clients that are well-to-do. These people are too busy to cook on their own.

The money that you can make as chef will usually depend on the establishment where you work. If you think that you can’t make it as a self-employed chef, you can try landing a job at local restaurant, hotel, or any other food related establishment. You can earn more money as a head chef or cook at a five-star hotel or restaurant.

If you decide to become an employed cook, you must be prepared to start with entry-level positions. You will have to slowly work your way up by showing your skills as a great cook. This will take time, and as you go up the ladder of success, your salary will also increase.

As mentioned earlier, earning money as a chef can be hard. You will need to prove your skills and knowledge to customers. It would be impossible to make money overnight but once your target market finds out what you’re capable of, you will surely succeed.

Start early and enroll at a culinary school. Very few chefs succeed without proper education and training. You should invest time, effort, and money to become a chef. Find the path that works for you. It is a personal decision to become self-employed or become part of an establishment. Now that you know some of the options, you can take your pick!

Author Bio- Focus Management are a food recruitment agency, which has supplied this post. They have a very strong presence with retailers and food-service organizations in delivering highly skilled candidates for recruitment.

Financial Tips for Women

infant (Photo credit: soupboy)

Pregnancy is the most important period in women’s life. For many women, especially single, expenses for babies are overwhelming. It doesn't mean that pregnancy will lead you to financial problems. As to avoid these problems, you need some financial tips.

Financial tips for women:

Employed pregnant women have the right to 52 weeks of paid leave. This furlough consists of 26 weeks of ordinary maternity leave and 26 weeks of additional maternity leave. Your employer must create necessary conditions for your health, including special care and attitude.
There are different special programs for pregnant women. Department of Health can help you with pregnancy and post-pregnancy problems. Women, Infants and Children (WIC) program provides aid with food, consulting about healthy food, and medical services for women, infants and children.
You should create an emergency fund. Baby before birth requires great expenses for nutrition, baby buggy, cot…and after requires more. Try to save part of salary for baby in the future or unexpected costs. Planning your budget will help you in this situation.
Don’t be crazy in purchases. Pregnant women usually waste much money for buying not necessary things. You should analyze what is really important for your baby. Car seats, baby carriages are useful unlike too expensive branded pajamas.
Insurance help financially, caring for your safety. You can get a health insurance or accident insurance, and it will prevent you from unexpected expenses.
Women can buy many diapers and wipes. You need them in large quantities. Sometimes, baby store offer free diapers for frequent diaper customers.
You can get special online loans at WomensPersonalFinance.net for pregnant women. If you need money quickly for emergencies you can use payday loans, which are efficient, has short-terms, online access and easy applications.
There are a lot of charitable organizations in the United States that help pregnant women. These organizations will give you food, clothing, different baby’s things and just money in emergency cases. Crisis pregnancy centers provide necessary objects for babies during your pregnancy, too. They even help pregnant women to find parents to their babies for adoption.
Meeting with other pregnant women is very useful. It gives you information about pregnant rights or special programs. They can be your friends and good sources of information, sharing experience.
Don’t buy clothes and shoes beforehand. Children grow very quickly.
Try to save money for university, if you have possibility. Time passes quickly and you don’t observe how your child gets to first base, goes to the school and college. Think about baby’s future.

Future parents should remember that pregnancy is a very complicated process, which demand special care. It will cost you a lot of money, before and after. But it's worth it. Children are our happiness and future support.

5 Different Alternatives to Venture Capital

When newly opened companies or unproven businesses seek funds for capital investment. They turn to venture capital, a financial capital which is a private equity that furnishes money for their project. The idea is for a venture capitalist to provide the money so that the company can work on their product or new invention. In return, the venture capitalist becomes a part-owner of the company. Since most venture capitalists have business experience and can see the high potentials of the company, they will exhaust all their means to establish it and make sure that they get the most for their investment.

Aside from venture capitalism, there are also other alternatives for companies to produce funds. Here are 5 of the most common forms of seed funding, or seed money, an investment form where companies –usually new and small ones—who cannot secure a loan from a bank find ways to collect funds in exchange for part-ownership from the investors.

1. Crowd Funding.

Most recently recognized by a United States legislation, the JOBS Act, Crowd Funding—also known as equity crowd funding, crowd financing, or hyper funding—pertains to individuals who network and raise funds usually through the Internet to support a variety of projects like political campaigns, new research, relief operations, company funding, and others.

Small individuals can invest small amounts on equities sold by a company.

2. Angel Funding.

Also called business angel or informal investors, an Angel investor is a wealthy individual who takes risks on products or researches from new or small companies with potentially successful outcome in exchange for equity or exchangeable debt.

Angel groups or networks are organized individual investors who share funds for small businesses.

3. Friends and Family Funding.

Borrowing from friends and family can be the easiest and the riskiest way to produce funds. Some may lend money without an interest while most will probably expect one. The result, however, can either be favorable or unfavorable, and relationships can be damaged along the way. It is best to have legal agreements so everyone is assured of investment returns whatever happens.

4. Bootstrapping.

This can come from the owner’s own savings or credit card to avoid paying interests and penalties. This may require a lot of frugality and cost cutting ability (without compromising the quality) since the money at risk comes solely from the business owner.

5. Capital Sources.

Borrowers and lenders conduct business without the conventional agents or agencies. They do not own part of the business but can give useful advice.

Author Bio:

Olive Smith is marketing lead at SmallBusinessAngels.com.au, who provides venture capital to hundreds of entrepreneurs with loans for small business from startup to expansion.

Friday, November 30, 2012

The Basics of Small Business Loans

A loan is a very simple thing when you get down to it. You get some money and you agree to pay it back with interest. It doesn't matter if your business is a success or a failure, all the risk is on your shoulders alone.

In business, we take it for granted that risk is just a part of life. When borrowing money for your business a lender may not lend you money if they think they are not going to be paid back. The risk of not getting paid back calls for the lender to ask for a bit of security like a mortgage on the business owners house, so if they don't keep up on the payments they can take and sell the house to cover the loan.

If you weigh the risk of borrowing the money to the risk of selling a part of your company to investors, the business owner would rather borrow the money and take the risk alone. The business man is confident that they will be a success and they do not want to share that success will investors.

Some of the basics of a small business loan:

The Promissory Note

When borrowing money you’re going to have to sign a paper that states you promise to pay back your loan plus interest. It also states how and when payments are to be made. This document is called a "promissory note".

Putting the loan in writing is a good idea whether you’re loaning the money to your brother in law or borrowing from a commercial lender. A handshake just doesn't cut it anymore.

Forms of Repayment

Lump sum repayment. You agree to pay principal and interest in one lump sum at the time agreed upon. Under this plan there would only be one payment for the loan and the agreement would be settled. This form of repayment can contribute to your business saving money and not having to worry about making monthly payments.

Periodic interest and lump sum repayment of principal. You agree, for example, to pay interest only for two years and then interest and principal at the end of the third year. With this type of loan plan, often called a "balloon" loan because of the big payment at the end.

Periodic payments of principal and interest. You agree, for example, to repay one-fourth of the principal each year for four years, plus interest at the end of each year.

Amortized payments. You agree, for example, to make equal monthly payments so that principal and interest are fully paid in five years. Under this plan, you'd consult an amortization table in a book, on computer software, or on the Internet to figure out how much must be paid each month for five years to fully pay off a loan plus the interest. The table would say you'd have to pay a fixed amount each month. Each of your payments would consist of both principal and interest. At the beginning of the repayment period, the interest portion of each payment would be large; at the end, it would be small.

Amortized payments with a balloon. You agree, for example, to make equal monthly payments based on a five-year amortization schedule, but to pay off the remaining principal at the end of the third year.

Prepayment penalties

When you borrow money, it’s possible to pay off the principal faster than called for in the promissory note, since this stops the accruing of interest. In other words, if you have a three-year loan but are able to pay it off by the end of year two, you don't want to pay interest for year three. By law, some states always allow such early repayment, and you pay interest only for the time you have the use of the borrowed money.

But in other states, the law allows a lender to charge a penalty (amounting to a portion of the future interest) when a borrower reduces the balance or pays back a loan sooner. It seems unfair to have to pay anything for the use of borrowed money except interest for the time the principal is actually in your hands. Make sure any promissory note you sign says you can prepay any or the entire principal without penalty.

Cosigners and guarantors

If you don’t have sufficient collateral for a loan, the lender can ask for other methods to guarantee that the loan will be prepaid. One is having someone cosign or guarantee the loan. That means the lender will have two people rather than one to collect from if you don't make your payments. Be sure to explain to whoever cosigns or guarantees the promissory note, that they are risking their personal assets if you don't repay it.

Some lender wants the spouse to cosign the promissory note. If your spouse signs, not only are your personal assets at risk, but also all assets that the two of you jointly own like a house or a bank account. Also, if your spouse has a job, his or her earnings will be subject to garnishment if the lender sues and gets a judgment against the two of you because the loan isn't repaid as promised.

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Sunday, December 2, 2012