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What Happens If I Don’t Pay My Bills?

Sure it’s a cliche, but it bears repeating: “There’s too much month at the end of my money. “

Not everyone is a financial wizard and not everyone is independently wealthy. Budgeting is difficult and surprises await those not ready with a three-month cushion of emergency cash.

Of course, some may think, “What’s the worst that could happen if I don’t pay my bills?” The comprehensive answer to that simple question is “Well, it depends. “

It is inconvenient.

When it comes to utilities, shut-offs are the first line of defense against non-payment. Very few people like to do without electricity, natural gas, water, etc. So usually getting them shut off is incentive enough not to get behind.

Taking time off work to be home for re-connections is not only a pain in the neck, it puts a strain on work life too. Gas companies generally will not re-establish service without someone being there, so that they can take necessary safety precautions.

Eventually, the customer will have to talk to someone about failure to pay. Dealing with bill collectors is not only a hassle, it’s embarrassing. Collections agents are doing their job and do not care about the reason why there was a failure to pay.

It costs more.

Almost any company doing business will charge late fees. Whether it is a percentage or a flat rate, it ends up eating into the budget, making the next month tight on money as well.

Utilities will charge you reconnect fees any time they disconnect service. This can be up to half of the average monthly bill, although most charge a flat rate. Since the customer is over a barrel, they have no choice but to pay it or do without, so it is never cheap. This, of course, is …

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Financial Advisor Marketing – How to Avoid Missing the Boat to Affluent Womenville

Financial Advisor Marketing – How to Avoid Missing the Boat to Affluent Womenville

Recently, on a cruise to Cozumel, the crew shared that there are always a few guests who miss the boat after stopping at port. While you may not believe this could happen at every port, the crew assured us it was the truth. Interestingly, the same thing happens with financial advisors who want to work with affluent women. As hard as that is to believe, some financial advisors just don’t realize that they need to approach affluent women differently if they want to get the results they desire.

A dramatic illustration of this are the studies that show that after the death of the first spouse, up to 98 percent of widowed affluent women will fire their financial advisor. Amazing — 98 percent! Why is that? Affluent women need different things from financial advisors than affluent men. The great news is if you take the time to learn a few simple techniques to better serve your female clients, you can be rewarded with an entry into an extremely lucrative niche market.

Ask-learn vs. tell-respond

Top financial advisors take the time to listen and ask questions, understanding that it’s the best way to improve their skills and grow their practices.

Top financial advisors listen to their affluent clients (not the chronic complainers who should be terminated or referred elsewhere) in order to really understand what they need. Top financial advisors also ask questions — in a non-intimidating way — of people who fit their profile of an “ideal” client, centers of influence (COI) who service their niche market, and other successful people they want to emulate.

When starting out as a financial advisor, it’s easy to ask questions because there’s so much we don’t know. But …

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Financial Planning Career – Know the Finance Industry

Starting a career in financial planning will take a lot of hard work and dedication to be successful. A financial planner specializes in the planning aspect of finances, usually finance planners focus on the aspect of personal finance rather than investments and insurance. This is an extremely lucrative career because of the increase in college graduates who need help after graduation forming a budget to pay back loans. A financial planning career requires extensive knowledge in the finance sector, ability to set and help assist in clients sustaining financial goals and helping clients build financial security.

Knowing the finance industry is a must for any financial planning professional. This career requires substantial knowledge in finance because it directly affects an individual’s spending and saving habits. A bachelor’s degree in finance is a very effective way to showcase your knowledge in the field. Having a 4 year degree will allow you to find the necessary experience with jobs and connections with other successful financial planners. This will only add to your credentials when you officially decide to go into a financial planning career. A finance concentration is offered at universities across the country and they will provide you with the necessary knowledge to success as a professional financial planner.

Once your education and experience reflect that of a successful financial planning career then you can start accessing your abilities to further advance your career. It is important that you understand the process of setting financial goals for your client. This includes potential budget concerns and strategizing spending habits for a certain period of time. Your main priority it to ensure that your client will meet all possible financial goals they desire without losing money in the mean time. A financial planning career can become demanding so it important that …

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How to Profit in a Global Recession – By Currency Trading?

I don’t know about you, but I don’t think were done yet. If you watch the talking heads on TV it seems the US Government is riding in on a white horse to save the economy. It sounds like the bank rescue package – all $700 Billion of it – will save the day. I’m certain it’ll help a little. But what if it doesn’t? What if this is just the beginning of something much bigger?

Let me explain.

Right now credit markets are seizing up. You don’t need me to tell you this. Just open any major newspaper in the country. Over the last 2 weeks they’ve done nothing but report on the dire situation companies and individuals are facing.

The best example is recent spikes in LIBOR rates.

LIBOR is the rate that banks charge each other to borrow money. The cost of borrowing money spiked up because banks are desperate for financing. But there’s a problem. Many banks are looking at other institutions with a suspicious eye.

They don’t know who’s going to survive the week, let alone the night.

If you run a bank, you know being able to borrow money is central to your business. What’s happening is just like the great depression. Banks will stop lending to each other. More banks will fail, and that will cause lending to tighten even more.

 It’s a vicious cycle.

These banking problems are starting to spread all over the world. Right now Europe is witnessing the greatest collapse of their financial system in the last century.

Remember Northern Rock? The Bank of England was forced to nationalize that institution after it experienced a run on the bank. Recently Ireland did something unprecedented. Irish citizens were questioning the stability of their banks. As a result, massive …

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Effective Ways to Cut Money Spending

Are you struggling on spending too much money already? Well, if you are one of those, this article is for you. Here are some effective ways to cut money spending:

1. Delay gratification – If you want to cut off too much spending and save instead, you must learn to delay gratification or delay pleasure. Too much pleasure requires too much money spending. Examples of gratifications are spending of unnecessary things, going out with friends during a not so important party, or you try pampering yourself with an expensive whole body spa. These are the most pleasurable things that you can delay just to save more money. If you want to cut money spending, learn to avoid these things. You control yourself and do let those evil delights drive you to do these things.

2. Learn to pack meals – You can always save by learning to pack your own meals. It does not have to be necessarily every day, but you can do this alternately. You can probably do this at least a few times a week, depending on your budget. Aside from the benefit of not spending too much for breakfast, lunch and dinner, you can also get the benefit of eating healthier food. In this way, you are far way surer that you are eating a clean food because you are the one who prepared it.

3. Drop your unnecessary electrical appliances – If you want to cut off too much money spending, it is very important that you consider your electrical appliances at home. Your electrical billings are taking most of your money. It is important that you unplug electronics, phone chargers and other electrical appliances sources. Turn the power off when appliances are not in use. Make sure that you turn off the …

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