Government grants for small scale industries

October 23, 2012  //  Posted by: cooldude  //  Category: Personal Finance

Government grants, small scale industriesThe small scale industries are usually short of the required capital and hence the US government has come up with different business grants to help out the aspiring entrepreneurs so that they get ample opportunity to blossom and operate in full bloom. The government grants for the small scale industries are actually geared to promote the avenue of self-employment, especially in the rural areas & alleviate the menace of unemployment on the process.

There are varied organizations across US that provide for the government grants meant for small scale businesses. If you too are a small scale entrepreneur aspiring to make it big with your new endeavor, look around your community for such grants from the government. It’s best if you can contact with your regional city office as they can inform you about the right platform to seek for the government loans.

Essentials that go into your balance sheet

September 26, 2012  //  Posted by: cooldude  //  Category: Personal Finance

Mantain balance sheet, balance sheetA balance sheet is a very important thing that you should take care of properly. Any discrepancy or problem in the balance sheet is expected to give you a lot of problems during audit of your business finance. The income you incur is a very important thing and each of the sources of the income and the all the income, doesn’t matter however small it is, should be properly mentioned.

The same is the thing with the expenditure. All the minute expenses should be noted down carefully in the balance sheet. Any miss out of the expenses from the balance sheet will give you problem during audit. Take care of these things properly. Maintaining a proper balance sheet is essential if you want to steer clear of all the unwanted legal and financial contingencies. Any haphazard noted down of the facts may cause a lot of problem at the end of the finance year.

Preparing a profit and loss account

September 21, 2012  //  Posted by: cooldude  //  Category: Personal Finance

 profit and loss account, financial tipsOne of the most important items in the profit and loss account is the salaries. If there is any payment of salary to the partners or the proprietors it has to be separately shown because it requires special treatment when you are assessing income tax. When the accounts of wages are included, it has to be treated as indirect expense.

It is taken in the account of profit and loss. The accounts of rents go to the indirect expenses as well. Therefore, these accounts are debited in the accounts of profit and loss. The taxes and the rates are levied by the authorities for emitting public expenditure. It also goes in the indirect expenses and so is put in the debit side. The loan interests, the overdrafts are all payable by the organization. It will be an indirect expense as well. The commissions are made to appoint for affecting the sales. This goes in the debt side considerer as a silly expense.

Lawsuit Financing companies – Who are they?

August 27, 2012  //  Posted by: cooldude  //  Category: Personal Finance

Lawsuit Financing companies, financeYou may be wondering what lawsuit financing companies are. Well to describe it briefly they are companies who provide lawyers, attorneys and beneficiaries along with custom finance, appeal finance and estate finance. They can be separate companies or sometimes the experienced lawyers and attorneys themselves create lawsuit financing companies. The main advantage of a lawsuit financing company is that if you pay monthly fees then your case will be solved more quickly than the others.

There are certain other fees too such as the flat fee, recurring fee which varies according to the case. Once you have the fees the lawyers of the lawsuit financing company will take care of the case until it is solved and they will also scrutinize all the paper works that have been submitted. Normally all the monetary settlements are done after the case has been solved so that it gives the client a confidence as to contact them whenever he faces a problem.

An overview about litigation finance

August 15, 2012  //  Posted by: cooldude  //  Category: Personal Finance

litigation finance, financial tipsLawsuits and court fights cost a good amount to the individual facing the case. Continuous funding is necessary for carrying out the details of a lawsuit. In litigation cases, financing is done by many litigation financing companies as an investment on the share of the settlement instead as a loan to the individual. The financers evaluate the worthiness of the agreement, chances of winning a fairs share in the litigation settlement through good lawyers. An individual can reach a reputed litigation finance firm through the lawyer they hire for the litigation lawsuit.

Different litigation financer charge different initial fees to the client. An agreement is signed between the company and the individual clearly stating that the payment will be done to the company if and only if the client wins. The payment is often non-recourse in nature. This amount given as litigation finance takes care of the lawyer charges, court fees and other expenditures involved in the procedure

Why is Yahoo Finance so popular?

July 24, 2012  //  Posted by: cooldude  //  Category: Online Marketing, Personal Finance

Yahoo Finance , finance optionThere are good reasons behind the popularity of yahoo finance. The most common reason would be that apart from a few services that may require a certain fee, most of the tools and the accessibility is completely free in yahoo finance. If you set your own account, you will receive personalized updates with your logging in. therefore, you will be informed al about companies and stocks as soon as you log in. the indexes of the market are updated quite frequently.

The home page is very helpful but there are some other useful pages as well. You will get some very helpful pages on opinion and news, Investing, personal finance and portfolios. Then there are ample information on stocks, mutual funds, options, ETFs, currencies and industries. There are converters, articles, calculators and everything that you may need. Then the website offers information on insurance, loans, taxes, real estate, retirement, income and family and also industry news.

Tips for maintaining good credit profile

June 16, 2012  //  Posted by: cooldude  //  Category: Personal Finance

Tips to maintain good credit profile, credit scoresIt is really essential to maintain a good credit profile. Here are some tips which can help you to maintain a good record. Firstly, use your credit card in a responsible way so that you can abide by the rules and regulations of the credit card agreement. Ensure that you regularly pay your credit card installments and pay it fully each month. You should not forget it like the careless card holders and thus you can also prevent the interest rates from ballooning up. Avoid using dual credit card accounts as this can lead to debts and you can lose your good credit card history. Using two accounts can lead you to various problems. So it is safe to use a single credit card account.

Use your card only when it is necessary. You should manage and control your expenditure always. You must take a credit card transaction bill after you use it. By doing this you can keep a track of your expenditure and also check that your transactions are alright. You can also control your expenditure. If any problem occurs then you can write letters to the credit card company and also show the bills of your transactions.

PPI reclaim: are you eligible for it?

June 10, 2012  //  Posted by: cooldude  //  Category: Personal Finance

Tips to reclaim PPI, PPI claimManaging finances is getting even more difficult these days with the economy crisis that is being faced in most parts of the world. People are looking for ways to save money and get compensations wherever possible. PPI claim is something which people did not pay much heed to before, but with the present economy situation, people are trying to save money from wherever possible.

PPI stands for Payment Protection Insurance, and as the term indicates, this is a kind of insurance which helps you when you cannot clear certain loans on time. PPI is not valid for mortgages or credit card debts. Even overdrafts can be covered with the use of PPI. There are quite a few terms and conditions that one needs to go through and understand before opting for a PPI. This is an optional thing which can be taken if you think you require it. Eligibility also gets clear by reading the terms of getting and claiming the PPI.

Reduce banking fees with simple guideline

June 05, 2012  //  Posted by: cooldude  //  Category: Personal Finance

Reduce banking fees, bankingWe like to use banks to our advantage but every time we tend to pay on banking service fees, and no one likes that, so there are ways by which you tend to make some savings, but first be clear on the terms and the services that you get from a bank, then decide on the minimum balance figures and the least drop and then only you can make some savings. First try out the Credit Unions, they are Non-profit seeking organizations that benefit their members with easy loan options and high interest on savings account, though the admission procedures are tough and more over ATMs’ are quite few. If Credit Unions’ is not an option then there are other options too.

With other banks there are two kinds of checking account options one with low balance and restricted transaction numbers and cost on transactions or the other being high balance with unlimited transactions and no cost charges and interest rates low and high accordingly. With often fluctuations, the former seems better. Consolidations of accounts are a good tip too.