A successful financial plan or a plan to address accumulated wealth requires much more than an assembled report or analysis with recommendations. Many times a person that is nearing retirement or has accumulated wealth has a written plan created and then shortly thereafter, finds it to be stored on a shelf or in a drawer and is never really looked at again.As a great contributor to the financial profession, Dave Ramsey, once stated, that financial planning is 20% planning and 80% behavior. There is a lot of truth in this statement as planning not only involves the behavior of the individuals or family doing the planning, but also the advisor who may be engaging them in putting together a financial plan.Financial planning is very much a process and not an event. Planning includes specific goal identification, exploration of individual and family values and purpose, the establishment of a team of trusted advisors, careful construction of a strategy, tactics and selection of tools, implementation, and careful monitoring. Each of these areas requires careful consideration and understanding.Establishing goals and what is Important to you- It can’t be stressed enough how important it is to spend plenty of time in this very first step in the financial planning process. Although this step is standard within the financial planning process, it often requires more emphasis than actually occurs. Ample time needs to be taken in planning to correctly identify goals that are the most important, and assure that accumulated wealth is being aligned with purpose and values in a way that creates fulfillment in the future.Careful selection of your team of advisors – Selecting advisors is like assembling an award winning sports team or business team. Not only should you select advisors of the highest competence, objectivity, and reputation, but also a team of advisors that are willing to communicate with each other and work together. One of the challenges that an individual has in forming a team of advisors, is the disconnect that commonly exists between the financial advisor, CPA, estate planning attorney, business attorney, etc. It is important for success that a team of advisors are willing to communicate with each other and work together on your behalf.Developing the Financial Plan – This step involves construction of a written plan that is coordinated with your team of advisors and involves careful consideration of planning strategies, development of the tactics and careful selection of the tools for each area of your plan. Whether a financial plan involves the design of investment portfolios, a plan to successfully exit a business, an estate plan, legacy plan, or all of these areas in one comprehensive plan, a plan needs to be designed in a way that connects your wealth with your purpose, values and stated goals.Implementation of a financial plan – This step requires teamwork and communication. A detailed action plan needs to be published and followed by you and your family as well as the advisors that are involved. It is recommended that a system is in place that enables you to follow through with the required action steps. The action steps need to be specific and have precise dates for accomplishing them with communication for tracking the status.Monitoring your results – This step often causes a plan to fall apart. Regular monitoring is required, frequent communication is important, but most of all commitment from you and your advisors to follow through and work towards achieving your goals. It’s like running a business, in that having the proper systems in place, discipline and focus becomes vitally important to successful results.This is a short description of a successful financial plan. Although, there are many details that need to be considered, it is important to realize the various steps and how to follow through with these steps to help assure your success.
I’m a big fan of the “80/20 Rule”. Also known as Pareto’s Principle, it states that 80% of an outcome is usually determined by only 20% of the inputs. It holds true for a surprising number and variety of things. For example:* 82.7% of the world GDP comes from the richest 20% of the population (1);* In general, 80% of a company’s profits come from about 20% of its customers;* 20% of church members are typically responsible for roughly 80% of church participation, according to a survey published in .It doesn’t always work out to exactly 80% and 20%, but the principle is usually a good rule of thumb. In fact, the derivation of “rule of thumb” comes from the 80/20 rule: Your thumbs account for 20% of your fingers but do 80% of their work. So the principle is fairly universal.I like the 80/20 rule not just because it helps us understand things, but also because it can help us manage things more effectively. Things like our finances.That’s why we named the tool to measure and manage a household’s finances “The 8020 Worksheet???”. The main part of the worksheet lists the high-impact assets and liabilities, and the cash flow associated with each. Numerous lower impact Financial Planning are captured separately and totaled into a single “Variable Living Expenses” number on the worksheet. This way, you can focus on the few high-impact items that matter most – the ones that determine most of your overall financial situation.80% of your household wealth usually comes from only about 20% of your assetsWhat are some of those high-impact items? For the average U.S. household, two items – real estate and retirement/pension accounts – account for 80.7% of household net worth (2). So these should certainly be areas to focus on for your wealth creation. For example, how can you build equity in your home faster? Pre-paying the mortgage might be an option. And maximizing your contributions to Roth IRAs and matching 401(k) accounts will help build up your retirement account total. What are your other high-impact assets? Are you taking steps to optimize them?The 80/20 rule can be applied to debts, too. Which one can you pay off relatively quickly to free up monthly cash flow? Maybe a car loan or a student loan. Once that’s paid off, you’ll have more monthly cash to help pay off another debt. Sooner than you think, you’ll be able to make good progress on paying off your biggest debts – the ones having the greatest negative impact on your financial progress and Personal Finance.Numerous small expenditures do matter, and they shouldn’t be neglected. That’s good budget management. But identifying and optimizing the few assets and liabilities that determine most of your overall financial success – that’s good Financial Planning.(1) Source: The World Bank.(2) Source: “Wealth is Good, Cash Flow is Better” e-booklet, p.10. Data modeled from Federal Reserve Board 2007 Survey of Consumer Finances and U.S. Bureau of Labor Statistics 2010 Consumer Expenditure Survey.
With many people struggling for money these days, it can be necessary to sell things to get some cash. There are high street shops where you can do this as well as websites and some of the most popular are the cash for gold places, which will buy your precious metals from you and give you money for them. Many people think that this just means jeweler and will sell necklaces, bracelets, rings, earrings and things like that. However, you can take in any sort of metals including boxes, nuggets and coins. If you have some gold and silver coins, then you may have wondered whether it is worth you selling them, but not realized that you could. It can be worth doing some research to find out whether they could be worth some money. There are many places where you could sell them and you need to try to find the place that will offer you the best price. It can take time to do this sort of research and you may find that you need the money quickly and so do not have much time. It is worth taking a look at websites which give you link to a selection of websites that could help you. They will give you an idea of what your gold coins and silver coins are worth and you will be able to decide which is the best. Often they have a section where you can look up the value of your coins and then find out the places where you can sell then and how much you will get. You will find that if you look up the value of your gold coin, the actual gold coin price that you will get, can be very different indeed. The dealers will want to make some profit and will probably not give you the full value of the coin. However, by looking around, you should be able to find a price that you like the look of. If you do not, then you should hold on to the coins and find some other way of making money instead. You may think that it will be better trading it in for metal value, but the coin should be worth more than the metal it is made of because of the history of it. Therefore try to find out the metal value and the coin value and hopefully you will be able to make more than just the value of the gold. Whatever country your coins are from and however old they are, you should be able to get some money for them. Just make sure that you get the most that you can because otherwise you could regret selling them. If you find out later that you could have made more money elsewhere then you will not be happy. Therefore spend a bit of time doing some research and then you will be happy when you sell, knowing that you are getting the best price for your coins.
Small businesses need working capital loan to expand their business or hire additional labor. It is the life blood of any business and is eventually be required for growth and expansion. Before we delve deeper into working capital loans, we must first understand what working capital is.What is Working Capital?You get working capital when you deduct total current assets from current liabilities. Examples of current assets are inventory, short-term investments and cash in bank. Current liabilities include short-term debts, accounts payable and line of credit. When you deduct current assets from current liabilities, you get a clear idea of your business position. To be successful in business, you will need positive working capital. Positive working capital shows that you are able to pay off your current debts. Nobody likes a negative working capital that usually signifies a company’s inability to meet short-term liabilities.Is it important to raise working capital loan?It is important for a small business to understand working capital needs. Eventually, a company requires loan for working capital so that it can set up new targets, expand business or hire new workers. With working capital financing, companies can have options when it comes to raising their capital. They can select from a wide selection of loan options such as; credit card factoring and small business loan applications. Of these, applying for a temporary loan is a wise decision. There are companies that extend loans to small businesses so that they can look forward to expanding their business.While applying for a business capital loan is easy, it is crucial to check for repayment options. You don’t want to fall in a debt trap and so it is important to carefully review a company’s terms and policies before applying for a loan. You should also check whether the company is self-funded or not. Self-funded companies are flexible enough to help businesses raise working capital loan. Where banks and similar establishments fail to offer loans due to strict underwriting rules, it’s only these companies that come forward to help businesses raise working capital.Before applying, make sure that you give good reasons for raising a loan. Moreover, a profitable business will definitely help you secure a loan for your expansion needs. But make sure that the loan repayment terms are flexible. The company should allow businesses to easily repay the loan over a period of time. Once you are assured of repayment terms and other information, you can apply for a loan.
Perfect planning of finances and even execution of planning tips and tricks can get you on the right track as well as relieving you from large amounts of stress. There are several questions that you have to answer to find out if your finances are actually being managed in the right manner. First, are you really getting proper earnings, and are you expending the lot more than you get? Most people usually don’t get paid for their true worth. It is crucial to examine and compare the work that you do as well as the pay you obtain. If you cannot find out growing prospects anytime soon, it’s time to hunt for some other career prospect. Also, in case you’re expending over what you’re earning it’s advisable to cut down on several unnecessary expenditures. That doesn’t mean you’ll have to give up on your chosen lifestyle, just some improvements here and there can be helpful. Also, have you planned your monthly funding? If ever the answer to this question is no, it’s the time you start out expending based on the planned financial budget. In case you don’t know exactly where the money is heading, you’re sure to spend rather more than you earn. Savings is seen as a critical for a much better lifestyle. Thirdly, have you ever relieved all of your credit card bills? The personal credit card debt could be the major barrier to getting on top money wise. Though, simple as well as convenient to use, the overdue payment, does not just have an impact to your credit rating, and also you end up paying substantially more as compared to the value of products. It is a good idea to pay by hard-cash to make sure that we have to not create financial debt or liability. Build a list of extra costs that month attempt to cut down on a couple of next a few months. Have you invested in a saving plan or your retirement plans? On a monthly basis set a fixed amount of money aside as financial savings. Do not wait to pay off the entire monetary expenses and then put aside what is still left as savings, as then you would actually never ever contribute to your savings or your retirement plans. Set around 10% of your total earnings aside toward personal savings as soon as you get your salary. Make use of auto deduct option, which will automatically transfer the total amount to the segregate account. Did you invest in yet another investment plan? After total savings, try to contribute some additional money for a sensible investment plan. A can help you very well towards Financial planning in India Are you making use of the employment perks? Employers offer many additional advantages to the workers which include the medical and dental insurance plan, manageable spending account and so on. Take advantage of these avoiding paying from your own wallet. Have you got the finest insurance plan? It is very important take a look at insurance policies as many spend excessive toward a life insurance policy. Additionally it is essential that you have adequate cover to cover all your dependents and loved ones in the case of unanticipated inability or perhaps passing. Have you prepared a will? If you’ve dependents, regardless of how much you get paid it’s important to have got a while. Ensure that it’s ready and safe. One’s destiny is unstable and being prepared will save the family from disputes.
For those who need a bit of further assistance to enjoy their wedding ceremonies and holidays, More Financial Ltd has come up with some tips to guide the individuals More Financial Ltd.July 2012 – Everyone knows that the wedding ceremonies play an important role in binding two individuals together. It is a fact that a wedding ceremony is one of the most beautiful ceremonies that you ever attend.Everyone tries to look good rather beautiful, and handsome. However, there are some critical conditions that some families face, and for that reason, they are unable to enjoy the happiness of wedding ceremonies. In addition, many people also love to enjoy holidays at their preferred places; however, it is very difficult for someone to arrange a trip for his family on holidays.For all those who want to enjoy to the full at the wedding ceremonies and holidays, More Financial Ltd offers a unique rather an effective way to cope with all such critical conditions. The exclusive wedding and holiday loans of More Financial Ltd makes you feel to be happier than ever.As a matter of the fact, More Financial Ltd presents its regulars to submit an application for a wedding and holiday loan online. A wedding or holiday loan will lend you a hand to revolutionize to enjoy the happiest moments in your life. But, the matter of the fact here is how to get the loan for yourself.Actually, More Financial Ltd centers of attention on the ease of use of the loans to its clientele. It is exceptionally straightforward to submit an application for an online loan with the intention of getting your funds. You have to minimally visit the website of More Financial Ltd, and put in your related details there.The mortgage request is alienated into four parts based on its nature. The initial ingredient includes the loan details. The most important information that you have to submit here is interrelated with the sum of funds, reason of the loan, and the Loan tenure in months. The individual particulars take account of your name, surname, your address, phone number, mobile number, e-mail address and your date of birth.What’s more, your address and the service fine points are incorporated that you have to complete with the intention of completing the request form. If you are done with your wedding or holiday loan application form, you simply have to submit the application. After a few days, the company’s professional staff team will contact you on your provided contact numbers. In this way, you can also get a chance to enjoy with your relatives, friends, colleagues, acquaintances and many others.About More financial Ltd offers its customers with a very effective method to borrow money for a lot of purposes. Those customers who need an extra amount of cash for various, can apply online on the website in order to borrow money from the company. The money is lent for numerous reasons including car, wedding, debt consolidation diminution, holiday, home improvement, and for other purposes. The needy customers can fill up an online form including information of the customer. The customers have to include some important information including the amount of the loan, the reason for the loan, and the time frame for returning the loan. For those who want to apply for an online car, wedding, debt consolidation diminution, holiday, home improvement loan, they can visit for more information.
Money Matters Financial Services Ltd. – One of the fastest growing Financial Company in India, was established in 1997, by Mr. Rajesh Sharma. Money Matters Financial Services Ltd. is a Non Banking Financial Services Company (NBFC) and is categorized as a non-deposit taking systemically important i.e. (ND-SI) NBFC as declared by Reserve Bank of India.Money Matters Financial Services Limited was started in Mumbai with the help of Rajesh Sharma’s determination and gifted core values of excellence, integrity, passion, knowledge and distinctiveness. Rajesh Sharma’s Money Matters has grown up to a whooping net worth ofRs. 750 Crore.Money Matters Financial Services Ltd. provides services in debt syndication, debt placement and financial restructuring. They also provide other services like investment banking and corporate finance advisory, private equity funding and equity broking for high net worth individuals and organization. Money Matters is involved with the projects like Real Estate, Power, Telecom, Hospitality, Retail and Financial Services. With the corporate giant like TATA Group, Birla Group, Reliance ADAG, Adani Group, Jindal group, Future Group, Bharat Forge and DLF.Money Matters Financial Services Ltd. believes in building the long term relation with clients by providing services at their doorsteps.Money Matters Financial Services Ltd. successfully completed QIP placements in 2010 and raised Rs. 445 Crore to meet the funding requirement and capital expenditure for proposed asset financing business to the house products such as bridge Financing, Corporate Loan/ Project Financing structured Product Funding, Pre- IPO Financing etc. to the corporate industries. The house has corporate lending fund of total Rs. 330 crore till Feb, 2012 which is a huge jump in terms of growth. By looking at the above stats and milestones achieved we can say that Money Matters have surpassed all the bars and grown. Credit for this goes to none other than Rajesh Sharma and his fellow associates who dreamt of building Money Matters as one of the most renowned financial firm in India and now they are living their dream!Rajesh Sharma, Chairman and Managing Director, Money Matters Financial Services Ltd. is a Chartered Accountant who brought Money Matters to such a height today that now it’s competing with leading financial firms today.