Friday, January 27, 2006

Organizing Your Finances: - Show Me MY Money: What You're Worth or * net * Worth

Janet L. Hall

Organizing Your Finances:
- Show Me MY Money: What You're Worth or * net * Worth
by: Janet L. Hall

Benjamin Franklin once said, * Time is money *. I think he wanted one to
add up how much time they spent on a particular task or job and how much
money they might have been wasting.

I do an exercise with my clients to help them discover what their per minute
worth is to enable them to see how much money they might be losing because
they are disorganized. Such as, if you are doing a non-income producing
activity for 15 minutes, you can see how your money is being spent!

It's a very simple calculation.

Your Per Minute Worth Calculation

Yearly income divided by 52 weeks = weekly income
Weekly Income divided by 40 hours (or total hours you work per week) =
hourly income
Hourly income divided by 60 = Your Per Minute Worth

Before you begin to OverHall and Balance your financial area, you need to
find out your net worth, and your spending habits. This will help assist
you later with your budget, payoffs, or long-term savings. It will also
help in guiding you with such things as your protection, investment, income
tax, retirement, and estate planning.

Your total net worth is your total assets (what you own or already have
saved) minus your total liabilities (what you owe out). I'm not going to
tell you this is as easy as figuring out your per minute worth because it's
not! It will take time and a commitment from you to determine your net
worth.

TIP: I have found the best time to do this exercise is when you are paying
your bills. At that time you usually have the information needed to help you
calculate your net worth. So, if it usually takes you an hour to pay your
bills, tack on at least an extra hour this month for this exercise. For your
convenience, print out and use the net worth form below. You will be
writing in your totals for each line. For instance, if you have two savings
accounts, total your balances first and then write in the total next to
Savings Account.

ASSETS
Cash Reserve Totals-

Certificates of Deposit:
Checking Account:
Credit Union Account:
Money Market Account:
Savings Account:

Investment Totals-

401(k):
Bonds:
Mutual Funds:
Stocks:

Personal Totals-

Art:
Boat:
Car(s):
Furnishings:
Jewelry:
Other:

Real Estate Totals-

Home:
Second Home/Vacation Home:
Other Real Estate:

TOTAL ASSETS: $

LIABILITIES

Short-term Debt Totals-

Credit Card Balances:
Current Bills Owed:
Loans w erms of six years or less:
Taxes:

Long-term Debt Totals-

Loans w erms of seven years or more:
Mortgage(s):

TOTAL LIBILITIES: $

Congratulations! You did it! * Drum roll * Please!
TOTAL ASSETS: $
- (minus) TOTAL LIABILITIES: $
YOUR TOTAL NET WORTH = $

Now see if your net worth falls under A., B., or C. below, and see how you
can begin to bring some balance back to this area of your life.

A. If your total net worth is half or less of your annual income or you have
a negative number you need to REALLY * OverHall * and Balance your financial
area!

~~ Pay off some/all debt
~~ Cut back on spending
~~ Stop charging
~~ Start a savings plan

B. If your total net worth is more than half your annual income but less
than a few years' income you need to * OverHall * and Balance your financial
area.

~~ If you're 40 or under and own a home, you're okay for now
~~ If you're 40 or over and you don't own a home:
`` Cut back on spending
`` Stop charging
`` Reduce debt
`` Increase your savings
`` Buy a home before retiring

C. If your total net worth is more than a few years' of your annual income,
CONGRATULATIONS! Keep doing what you've been doing!

Listed below are some questions to ask yourself now that you know and can
see what your net worth equals.

1. Do you have enough cash reserves to meet your needs?

2. Do you have enough protection to provide money for unforeseen emergencies
(we talked about this last issue)?

3. Do you have enough fixed assets (usually long-term; bonds are an example)
to provide or produce additional income?

4. Do you have enough equity assets (short or long-term; real estate and
stocks are examples) for growth and income?

To answer those questions, you need to know what your family and your needs
and goals are and then plan how you are going to meet them.

Quick Tips to INCREASE Your Assets:

1. Maximize your 401(k) contribution
2. Start investing
3. Get automatic deduction/deposit from paycheck to savings each pay period.

Quick Tips to DECREASE Your Liabilities:

Credit Cards
1. If you have to use a credit card, use only one major card
2. Pay more than the minimum payment on the credit card with the highest
interest rate
3. Stop charging to the highest interest rate credit card
4. Get rid of department store credit cards
5. Don't apply for anymore credit cards

Mortgage(s)
1. Pay a little extra each month towards the PRINCIPAL of your mortgage
payment
2. Drop your PMI (Private Mortgage Insurance) when your home equity exceeds
20% of your home's value (talk to your mortgage lender)
3. Refinance mortgage at a lower interest rate
4. Refinance mortgage at a lower interest rate AND finance for 15 or 20
years instead of the usual 30 years.
5. Pay half your monthly mortgage payment every two weeks (talk to your
lender)

Smiles, not Piles,
Janet L. Hall

The Organizing Wizard, Janet L. Hall, is a Professional
Organizer, Speaker, and Author. She is the owner of
OverHall Consulting, and Organizing By Phone. Subscribe to
her FREE organizing newsletter at
http://www.overhall.com/newsletter.htm or visit
her web site at http://www.overhall.com

Copyright 2000 by OverHall Consulting
P.O. Box 263, Port Republic, MD 20676
All Rights Reserved. Permission is granted to reproduce, copy, or distribute so long as this copyright notice and full information about contacting the author is attached.

About the Author

The Organizing Wizard, Janet L. Hall, is a Professional
Organizer, Speaker, and Author. She is the owner of
OverHall Consulting, and Organizing By Phone. Subscribe to
her FREE organizing newsletter at
http://www.overhall.com/newsletter.htm or visit
her web site at http://www.overhall.com

Dobler Consulting Inc
2339 Warwick Dr
Oldsmar
FL 34677
United States



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Organize Your Finances - Thinking Outside The (Shoe) Box

Leo J Quinn Jr


If you're like most people, your personal financial records are most probably kept in less than "Good Accounting Practices" standards.

For example, stashing old ATM receipts and hanging on to a stub showing what you paid for a pack of mints two years ago (cash, of course), might be filed with your paycheck stubs, credit card statements – paid and unpaid alike – as well as a few tax forms, a stray paper clip and a penny.

Anything from an old shoebox to a toolbox would do you for this method of personal financial tracking but you can do better than that.

Not to worry. Here's how:

1) Plan for a few hours of "alone time" with your financial records. This is a dandy time to pack the kids off to the mall, put up a pot of excellent coffee and a little snack (preferably chocolate), as a treat when you're done.

2) Supply yourself with ample space, such as a large dining room table. Make sure you have enough organizing supplies close at hand: sticky notes, file folders, a tub to hold them with hanging file folders, large envelopes, a check file, ring binder/s and a three-hole punch if you like, an open stacking file, and an organizer/sorter. A trash can by your side is a must.

3) Get everything from everyplace – shoe boxes, check files, file folders, etc.

4) While enjoying your cup of coffee, make a game plan. Decide what you're going to put where: e.g., checks and statements go in a specific file for checks and statements, credit card statements can be unfolded and placed in a file folder, etc.

5) Start sorting on the table. Checks go here, ATM receipts go there, paycheck stubs go over there, paid bills go on the other side, etc. until all the "stuff" is divided into neatly organized piles. Use sticky notes to mark what-goes-where on the table to avoid confusion.

6) Put all the "paid" items away first. Be ruthless – it's perfectly okay to toss the receipt for those mints from two years ago.

7) Put the rest of the inactive items in the envelopes, file folders, check files or other storage devices as are interesting, functional, and readily available from your local office supply store.

8) Have another cup of coffee and tackle the active, or open, items. Decide what you're going to pay and when. If you have an open stacking file, you will find one with four compartments (one for each week of the month), very handy for this purpose.

9) Balance your checkbook. Now.

10) Enjoy your chocolate after putting everything away where it belongs and, oh, by the way, check the calendar for when you'll be doing this again next month.

Of course, next month this will all be done much faster.

I highly recommend using technology to make this much easier and faster. Programs like Quicken and Microsoft Money will help. Really any spreadsheet program will do.

Have a category for each life area you spend money. Once a week or month take your receipts, checkbook records and scribbled notes and record where you spent ALL your money....every penny. One of my students was shocked to find out he was spending $75 per month on orange juice!

Legend has it that the Rockefeller boys kept track of all their spending and they turned out alright.

This time next year you'll wish you started today.


About the Author

Leo J. Quinn, Jr. owner of www.LeoQuinn.com is a financial educator from the Albany, NY area. For over eight years he has been helping thousands of people get control of their finances and get out of debt in a fraction of the normal time. He has a special offer for readers of this newsletter at http://www.1shoppingcart.com/app/adtrack.asp?AdID=132551

 

Dobler Consulting Inc
2339 Warwick Dr
Oldsmar
FL 34677
United States



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Wednesday, January 25, 2006

Online Surveys Financed My First Website!

Jason Glicken

Online surveys alone financed my first web site. Getting paid to take these online surveys is a win-win situation. Large companies want your opinion on their products and services and they are willing to pay you for it. These online surveys give them good insight into their target market, people like you, so they win. You win by getting paid for your time.

It all started about 5 months ago when I had finally decided I wanted to start my own online business. I have a full time job, a stay at home wife, and a 15 month old baby boy. I had no extra money, as you can imagine, and didn't want to risk my hard earned salary without knowing if this venture would work. With no idea on how to go about starting an online business and with no startup capital, I did what all web surfers do; I surfed, and I surfed, and I surfed.

During the course of my research I ran across some ads for taking online surveys and getting paid for it. I was skeptical at first, but when I researched the companies that offered online surveys I found a few that were for real. So I signed up with 3 of the sites.

Once you sign up you fill out some easy questionnaires about yourself so the survey company can match you with one of their clients looking for your demographic profile (e.g. age, sex, where you live, what you do, etc…). Easy enough, still free, I filled out my profiles and that was it, they let me know that they would contact me when a survey that fit my profile was available.

Without skipping a beat I went back to my research. It was becoming more and more evident that I would need to learn a lot more before starting my own internet business. I decided that for any business venture you should be as prepared as possible. And I still had no extra money to even give it a try. I was still in my hunting and gathering phase.

Then one night while surfing the net, I got an email telling me that a $10 survey was waiting for me. Great! I logged into my account at the survey site and clicked the link to start the survey. It took me about 20 minutes. This particular survey company pays directly to your PayPal account (it took a couple weeks to see the money, but I did see it.)

I was hooked. Over the next several months I received more surveys. There are times when you don't qualify for a survey. This could even happen a couple times in a row. Don't worry they will keep sending them and you will qualify for a lot of them.

About 4 weeks ago I decided I knew enough about web sites, web site hosting, web site promotion, newsletters, and most of the basics of starting my own site. So I logged into my PayPal and found $32 (all from surveys), and logged into my other 2 survey sites, $20 dollars in one account and $45 in the other. I had my startup money!

Taking these surveys enabled me to start my own business online using only the money I made online. No out of pocket money was needed to set up my site, get my domain name and start a hosting plan. In reality this is more than enough money to start a website backed business. I used only my PayPal money to set up my web site, and not all of it. Yesterday, I deposited $40 of survey money into my checking account and then transferred it to my PayPal account. I now have a little war chest for financing my online business.

Online survey companies (the real ones) don't charge you to join, don't spam you when you do (I only get invitations from them, nothing else), and pay you when your done. It can take up to 4 weeks to get paid (sometimes less sometimes more). For me this was not a problem since I was not yet knowledgeable enough to start my web site.

I still spend most of my time surfing and learning but I also understand the concept and dangers of procrastination. I did take my time getting started based solely on financial reasons, now that I have the money to get started that is exactly what I am doing, getting started!

I want you all to know that making money online is a reality. Surveys will make you money, I still take them as soon as they hit my inbox, but you will not be able to quit your day job. If you don't give up and hang in there you can start your own web business without touching any offline money. If you don't want to start a business then buy yourself or someone a gift with the money you earn. It truly is easy money!

By: Jason Glicken

About The Author

Jason Glicken - Editor - The Affiliate Journal
Copyright 2005 - All Rights Reserved.

Create start up capital completing FREE surveys online.
http://www.theaffiliatejournal.com/sparechange.php
Better to be a doer than a dreamer…

jglicken@theaffiliatejournal.com

Dobler Consulting Inc
2339 Warwick Dr
Oldsmar
FL 34677
United States



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Tuesday, January 24, 2006

New York Refinance - Refinancing in New York

Carrie Reeder

If you are looking to refinance in New York, it helps to get the facts before you begin the refinancing process. If you have an existing high interest mortgage, refinancing now could be the best choice for you. You can choose to refinance with cash out to make home improvements or to consolidate bills, or to simply refinance your existing mortgage to a lower interest rate that will save you a lot of money over time. New York real estate is always a booming business. Mortgage lenders in New York and throughout the country are competing for your business. You can get quotes from several lenders with one quick online application. Online lenders are offering the same great terms as traditional lenders and will give you the professional service and attention that you expect.

New York lenders will give you expert advice and superior customer service when you apply for a refinancing loan. If your existing mortgage has a high interest rate, refinancing now could dramatically lower your monthly payments. New York is a diverse state that offers rural living and a bustling city atmosphere. Owning a home in New York is an excellent investment. Real estate values rise continually and the current low interest rates make it easier than ever to refinance your New York home. Mortgage lenders online normally provide mortgage loans all states, including New York. When you apply online for a refinancing loan, you can get multiple quotes from one simple application and you will be contacted within hours by lenders that provide loans in your area. You do not need perfect credit to refinance your mortgage. There are many subprime lenders through online mortgage companies. You can even be pre-approved for a loan from an online lender.

Refinancing your New York home could be the best decision you can possibly make if you want to help secure your financial future. Extremely low interest rates and low monthly payments will give you more freedom to save for college, make home repairs, or simply live life the fullest extent possible. New York lenders are offering previously unheard of terms for refinancing loans. Contact a lender in your area or complete a short online application. You loan could be approved very quickly and you could begin saving money immediately. Mortgage lenders who service the New York area are anxious to help you realize your financial dreams. Get rid of your high interest mortgage and start paying less money on mortgage payments each month. Online nationwide mortgage lenders can provide loans to all areas of the country and can give you low rates on refinancing your home.

To view our list of recommended online nationwide mortgage lenders who service
New York visit this page:
Recommended New York &
Nationwide Online Mortgage Lenders
.

About the Author

Carrie Reeder is the owner of ABC Loan
Guide
, an information website with articles and the latest news about
various types of loans.

Dobler Consulting Inc
2339 Warwick Dr
Oldsmar
FL 34677
United States



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Sunday, January 22, 2006

New Website Launched for Consumer Finance and Education

Lisa Lambert


Credit Card Management Services, Inc. is a fully licensed 501(c)(3), non-profit, credit counseling agency whose mission is to provide compassionate, professional debt management counseling and education in an ethical manner with efficient, timely and problem-solving client support.

Since 1996, CCMS has helped thousands of consumers gain financial stability through credit counseling, personal finance education and debt management solutions. Located in West Palm Beach, CCMS provides our services to consumers in over 40 states. CCMS prides itself in being a customer-service oriented, education-driven agency.

CCMS offers credit counseling, budget analysis and personal finance education to all consumers that seek our assistance. Consumers that contact CCMS are directed to one of our certified credit counselors who review their unique financial situation. During this initial counseling session a credit counselor will review a client's current outstanding financial obligations, both secured and unsecured, as well as their monthly budget. Our counselors carefully analyze and assess the client's financial situation and recommend a course of action that helps them meet their financial needs.

CCMS provides debt management plans to those clients that show significant need. The debt management plan, in most cases, allows consumers to reduce their monthly payments and interest rates while giving them a fresh start on paying off delinquent accounts. When combined with effective credit counseling, a debt management plan can provide consumers with the tools to become and - more importantly- stay debt free.

CCMS believes that a proactive approach to education and counseling is the best approach. In addition to providing credit and budgeting counseling on an individual basis, CCMS also participates in local housing fairs, credit seminars and similar events to help promote financial awareness. CCMS offers free, on-site budgeting, personal finance and credit seminars to local schools, community development corporations and community groups in the South Florida area.

Please visit the website at http://www.debthelper.com

Lisa was hired by CCMS in February, 2003 as a customer service representative. She learned very quickly and was a big part of the renaissance of that department through hard work and dedication. Lisa was selected for the Counseling Department in the summer of 2003 and in January, 2004 was promoted to her current position as Counseling Manager.

As a counselor, Lisa quickly became a leader and advocate for her clients. As manager, she has organized the department to provide maximum coverage and a new system where 94% of incoming calls to the Counseling Department are answered by a live person. Lisa also played a huge roll in the design and feel of our website.

Despite her many assignments and projects, Lisa always has time to work with her current clients. She received many complementary client testimonials concerning the professional handling of the debt management program, but more importantly praising Lisa's caring, personal and caring touch.

Copyright 2004 Credit Card Management Services, Inc.

llambert@debthelper.com

Dobler Consulting Inc
2339 Warwick Dr
Oldsmar
FL 34677
United States



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