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Casual Articles - The Quickest Way to Significantly Increase Your Net Worth
Do you have clients that take up to 60 days to pay their invoices? If you do, you know how tough that can be on new and growing companies. Waiting to get paid for your slow paying invoices can wreck complete havoc on your company’s finances.Most business owners try to address this issue by going to a bank to try and get a business loan. However, banks are notoriously conservative and getting a business
The credit card companies are probably charging somewhere between 12 to 18 percent (forget those slick, short-lived introductory teasers) and the bank loan is probably around 6 percent.
Now, before we go further let me ask you a qu
While going to college is almost a must today, it can be quite expensive and usually leads to a great deal of student loans to deal with. This can be quite a financial burden, and it is important that you start thinking in advance about ways that you can start paying them off. The following are a few tips that can make paying off your student loans much easier and will help you reduce the amount you owe more
Here’s a simple illustration:
Home Value = $350,000 Mortgage balance = $150,000
Investments = 100,000 Credit cards = 20,000
Auto = 45,000 Auto loans = 30,000
Savings = 15,000 Bank loan = 4,000
You Own = $510,000 You Owe = $204,000
Therefore, your net worth would be $306,000.
There are two ways to increase your net worth. You can own more things or you can reduce your debt obligation. This article will focus on reducing your debt first because it is the fastest way to generate more money and, then, buy (own) more things.
In our example, you have $204,000 of debt. If you’re like most people, you pay less attention to the mortgage and car loan balances because you consider them to be rather normal (necessary) to your way of life.
The credit card companies are probably charging somewhere between 12 to 18 percent (forget those slick, short-lived introductory teasers) and the bank loan is probably around 6 percent.
Now, before we go further let me ask you a que
Different people have different needs. Depending on who you are and your circumstances, the best credit card deal for you will vary. I will take you through the things you should be looking for, but for the best current deals I suggest you check Money Savings Expert regularly.Credit cards allow you to spend a certain amount of money at an interest rate that will be charged every month. The spending amo
Auto = 45,000 Auto loans = 30,000
Savings = 15,000 Bank loan = 4,000
You Own = $510,000 You Owe = $204,000
Therefore, your net worth would be $306,000.
There are two ways to increase your net worth. You can own more things or you can reduce your debt obligation. This article will focus on reducing your debt first because it is the fastest way to generate more money and, then, buy (own) more things.
In our example, you have $204,000 of debt. If you’re like most people, you pay less attention to the mortgage and car loan balances because you consider them to be rather normal (necessary) to your way of life.
The credit card companies are probably charging somewhere between 12 to 18 percent (forget those slick, short-lived introductory teasers) and the bank loan is probably around 6 percent.
Now, before we go further let me ask you a qu
Paydex® is a dollar weighted numerical system that was developed by Dun and Bradstreet to track the performance of companies to pay their bills. A higher Paydex® score means that a business or company pays its bills almost always on time and is an indicator of how well they may be counted on to pay their bills in the future. A lower Paydex® score will usually mean that the business has had some trouble paying
Therefore, your net worth would be $306,000.
There are two ways to increase your net worth. You can own more things or you can reduce your debt obligation. This article will focus on reducing your debt first because it is the fastest way to generate more money and, then, buy (own) more things.
In our example, you have $204,000 of debt. If you’re like most people, you pay less attention to the mortgage and car loan balances because you consider them to be rather normal (necessary) to your way of life.
The credit card companies are probably charging somewhere between 12 to 18 percent (forget those slick, short-lived introductory teasers) and the bank loan is probably around 6 percent.
Now, before we go further let me ask you a qu
As the tragedy at the Sago mine in West Virginia unfolded on our televisions and front pages in January of 2006, I’m certain we all wondered how the story could have become such a terrific example of corporate media-relations bungling.Perhaps I was in the minority thinking the bungling was terrific, but I’m in the media relations business – this mess was going to be a terrific teaching tool.How
In our example, you have $204,000 of debt. If you’re like most people, you pay less attention to the mortgage and car loan balances because you consider them to be rather normal (necessary) to your way of life.
The credit card companies are probably charging somewhere between 12 to 18 percent (forget those slick, short-lived introductory teasers) and the bank loan is probably around 6 percent.
Now, before we go further let me ask you a qu
A debt consolidation solution is any method of taking all debts incurred by an individual from various lenders and consolidating them into a single debt. Such a consolidation solution is best for those who are stuck in a vicious cycle of high interest payments. When a substantial portion of income goes towards paying interest, a person is forced to incur more debts to meet routine expenses, which increases de
The credit card companies are probably charging somewhere between 12 to 18 percent (forget those slick, short-lived introductory teasers) and the bank loan is probably around 6 percent.
Now, before we go further let me ask you a question. Which is faster? Create $204,000 (in other words, own more) ... or reduce $204,000 of debt? In both instances, the result is the same because your net worth will have increased by the same amount.
To create $204,000 in 15 years, you would have to invest $6,956.69 each year for 15 years and receive a guaranteed 8 percent rate of return. Where can you find a guaranteed rate of return this high in today’s marketplace? No where!
To reduce $204,000 of debt in 13.5 years, it takes only $100 extra each month. Now, let’s make sure you understand what I just said.
To increase your net worth by $204,000 you must invest almost $7,000 each year for 15 years. You hope and pray you’ll receive no less than 8 percent average every year.
Or... you can come up with only $100 each month to reduce 100% of your debt (to include your mortgage) in only 13.5 years --- guaranteed! Hard to believe isn’t it?
Go ahead and check it out yourself. First, use a compound interest table to compute the investment r
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