A business plan is an important part of starting a business because it will force you to take a look and really think about what you want to do with the business both in the immediate future and a few years down the
road. It is a document you should always refer to and continue to update to ensure your business is on the right track to reaching its goals. Once a goal is reached, you should change it to reflect a new one. By learning how to write a business plan, you'll be a step ahead, because most banks and other sources of business capital want to see one. There are many business plan templates available online to help with writing a business plan.
Your business plan should be written in basic layman's terms, easy to understand, and very thorough. Here's what you need to include in your business plan:
Business Name: First and foremost, you want to include your business name. This should be a clear indication of what your business will be doing and easy for people to remember.
Mission Statement: Offer a mission statement for your business. This will tell potential investors and consumers what your business is about and what you hope to accomplish with your business.
Business Vision: What will your business look like a year from now? Five years from now? 10 years from now? Consider where you want to your business to go in the future because this will help you develop a plan for how to get there.
Goals and Objectives: What do you want your business to accomplish? How will you determine whether or not your goals have been accomplished? The more detail here, the better the plan. Figure out what you want to do and what you will use to measure how you got there. For instance, if you want to sell $100,000 in merchandise—your objective could be to get enough customers to reach your goal.
Any Branding Ideas: Consider anything you've thought about for logos, color schemes and slogans. Noting these ideas here will make it easier for you to remember them and conduct necessary copyright research before you move forward with these designs.
Market Research: Consider your current competition and customer need for your business. Do you have an angle other businesses do not? This will help you determine how likely you will be able to succeed. If there are 75
competing businesses in your area, it may be a good idea to alter the business idea or location of the business.
Financial Plan: Consider the money you have on hand and where it needs to be spent. Determine the money you'll need to get into business, the amount of money you'll need to stay in business should your projections not be correct, and how much profit you could potentially make.
Plan of Action: Plan what you're going to do for advertising, marketing, and even business failure. The more you think about and determine how you're going to handle in the beginning, the better off your business will be when it's up and running.
Wednesday, 22 December 2010
How to Turn Your Business Card into Your Ultimate Marketing Tool
Your business card is a pint-sized marketing tool that packs a big punch. The first impression that a prospective client will have of your company will often be through a business card. Handing out business cards is a
fast, easy, and personal way to promote your company. Maximize the effectiveness of your business card with these seven tips:
1. Make sure your business card is worth keeping. Low quality and unprofessional cards are the first to be trashed. Pull out your business card and ensure that it conforms to the following standards. First, a business card must 3.5" by 2." Anything larger will not fit in wallets or business card holders. The card itself must give the impression of professionalism. A card that is flimsy, has perforated edges, is boring, or has ink that smudges will convey an unprofessional image. A good business card is made of high quality paper, includes an image of the company logo, and is printed in an easy to read font. Finally, a business card must include every means possible to contact you, including your phone, email, fax, voice mail, and website.
2. Give your card away with a two to three sentence "commercial." As you hand a potential client your card, introduce yourself and your company. Explain what your company does and how it can benefit the client. An effective "commercial" will make someone want to keep your card handy.
3. Never give away just one card. Always give a potential client at least two cards, preferably more. Ask them to pass on your card to anyone they feel may be in need of your service or product. In return, ask for extras of their card to hand out. They'll be more likely to promote you if they know that you will be returning the favor.
4. Attach your card to everything. Staple it to flyers and brochures that your company distributes. Include an extra copy in correspondence. Hand out your card with other marketing items with your contact information printed on them such as: pens, notepads, or mouse pads. Your best or most sought-after clients should have dozens of your cards around the office.
5. Create an electronic version of your business card. Make the electronic version of your card the signature for your email account and your e-card will automatically be attached to the end of every email message you
write.
6. Magnetize your card. If your target audience includes homeowners or renters, design a magnet that they will want to put on their fridge. Include the most important of your contact information. Increase the likelihood of your card's permanent attachment to a fridge by adding other important information such as a mini-calendar or a kitchen weights and measurement chart. A photo frame magnet with your contact information that fits around a school sized picture will also be more likely to kept rather than tossed.
7. Give out your business card again after the service is complete or the product has been delivered. Ask your clients to recommend your company to someone else they know that may need the same service. The most powerful incentive for a client to choose a company is the recommendation of a satisfied customer. Once again, remember to give more than one card.By implementing these seven tips, you will create a huge impact through your littlest marketing tool.
fast, easy, and personal way to promote your company. Maximize the effectiveness of your business card with these seven tips:
1. Make sure your business card is worth keeping. Low quality and unprofessional cards are the first to be trashed. Pull out your business card and ensure that it conforms to the following standards. First, a business card must 3.5" by 2." Anything larger will not fit in wallets or business card holders. The card itself must give the impression of professionalism. A card that is flimsy, has perforated edges, is boring, or has ink that smudges will convey an unprofessional image. A good business card is made of high quality paper, includes an image of the company logo, and is printed in an easy to read font. Finally, a business card must include every means possible to contact you, including your phone, email, fax, voice mail, and website.
2. Give your card away with a two to three sentence "commercial." As you hand a potential client your card, introduce yourself and your company. Explain what your company does and how it can benefit the client. An effective "commercial" will make someone want to keep your card handy.
3. Never give away just one card. Always give a potential client at least two cards, preferably more. Ask them to pass on your card to anyone they feel may be in need of your service or product. In return, ask for extras of their card to hand out. They'll be more likely to promote you if they know that you will be returning the favor.
4. Attach your card to everything. Staple it to flyers and brochures that your company distributes. Include an extra copy in correspondence. Hand out your card with other marketing items with your contact information printed on them such as: pens, notepads, or mouse pads. Your best or most sought-after clients should have dozens of your cards around the office.
5. Create an electronic version of your business card. Make the electronic version of your card the signature for your email account and your e-card will automatically be attached to the end of every email message you
write.
6. Magnetize your card. If your target audience includes homeowners or renters, design a magnet that they will want to put on their fridge. Include the most important of your contact information. Increase the likelihood of your card's permanent attachment to a fridge by adding other important information such as a mini-calendar or a kitchen weights and measurement chart. A photo frame magnet with your contact information that fits around a school sized picture will also be more likely to kept rather than tossed.
7. Give out your business card again after the service is complete or the product has been delivered. Ask your clients to recommend your company to someone else they know that may need the same service. The most powerful incentive for a client to choose a company is the recommendation of a satisfied customer. Once again, remember to give more than one card.By implementing these seven tips, you will create a huge impact through your littlest marketing tool.
10 Tips to Making Your Business Card a Great Marketing Tool
Are you having problems with your current business card that fails to impress potential clients? Or maybe you are not getting the increased business that your card is supposed to provide for you. Then you should improve
your business card to make it into a great marketing tool.
The business card is more than just a piece of paper to pass our names & numbers. It represents an opportunity to become an impressive marketing tool. Our business cards should be unique & distinctive so as to be a memorable conversation piece for consumers.
Below are 10 tips to making your business cards function as a 'fresh' advertising billboard for your businesses.
* Ensure basic information on your card is complete as in your name, profession, office address, contact numbers & fax numbers. Providing your email address & your web site's address will give it more appeal to consumers.
* Offer special discounts & promotions on your business card.
* Place your business card in all your correspondence.
* Make your business card an appointment card to achieve dual functionality.
* Give your business card to everyone you meet be it store clerks, gas station attendants, toll booth operators and etc to get maximum exposure of your business.
* Make your business card a mini billboard to advertise your service or business product.
* Your business card can also be a fridge magnet. Spend a little more money on it and you have a better chance of having your business card on a potential client's fridge instead of simply stacked away with other cards.
* A professionally designed logo will reflect the true identity of your business and also make your business card more identifiable even at a single glance.
* Your business or services unique selling proposition (USP) should be highlighted on the back of your card. Some good examples of USP are:
1. Head & Shoulders: "You get rid of dandruff",
2. Olay: "You get younger-looking skin", &
3. Red Bull: "You get stimulation of body and mind".
* Shape your card relative to your business so your card can become a conversation piece. Limit the uniqueness so your card will not be difficult to fit into places where business cards are stored or else it will risk a chance of getting misplaced thus probably forgotten.
Our business cards do not have to lay dormant in somebody's wallet or drawer. Instead, it can play an active & powerful role to promote you, your business, & your services. Create your business card & follow the tips mentioned above to let it generate for you increased profits to your business. Your business card is your smallest, efficient, & most effective advertising billboard! - http://abassteroffice.blogspot.com
your business card to make it into a great marketing tool.
The business card is more than just a piece of paper to pass our names & numbers. It represents an opportunity to become an impressive marketing tool. Our business cards should be unique & distinctive so as to be a memorable conversation piece for consumers.
Below are 10 tips to making your business cards function as a 'fresh' advertising billboard for your businesses.
* Ensure basic information on your card is complete as in your name, profession, office address, contact numbers & fax numbers. Providing your email address & your web site's address will give it more appeal to consumers.
* Offer special discounts & promotions on your business card.
* Place your business card in all your correspondence.
* Make your business card an appointment card to achieve dual functionality.
* Give your business card to everyone you meet be it store clerks, gas station attendants, toll booth operators and etc to get maximum exposure of your business.
* Make your business card a mini billboard to advertise your service or business product.
* Your business card can also be a fridge magnet. Spend a little more money on it and you have a better chance of having your business card on a potential client's fridge instead of simply stacked away with other cards.
* A professionally designed logo will reflect the true identity of your business and also make your business card more identifiable even at a single glance.
* Your business or services unique selling proposition (USP) should be highlighted on the back of your card. Some good examples of USP are:
1. Head & Shoulders: "You get rid of dandruff",
2. Olay: "You get younger-looking skin", &
3. Red Bull: "You get stimulation of body and mind".
* Shape your card relative to your business so your card can become a conversation piece. Limit the uniqueness so your card will not be difficult to fit into places where business cards are stored or else it will risk a chance of getting misplaced thus probably forgotten.
Our business cards do not have to lay dormant in somebody's wallet or drawer. Instead, it can play an active & powerful role to promote you, your business, & your services. Create your business card & follow the tips mentioned above to let it generate for you increased profits to your business. Your business card is your smallest, efficient, & most effective advertising billboard! - http://abassteroffice.blogspot.com
10 Tips on How to Create a Great Business Card
It is quite simple to create a great business card. There a variety of different computer programs available that allow people to make business cards. Here are ten tips on how to create a great business card.
1. Use a catchy sentence that people will remember. You want your business name and what you do to remembered. You want people to remember your business card so make sure it has a catchy sentence.
2. Use a picture that matches what your company is about. You want a picture on your business card that people will remember. You can make something that is easy to remember. For example, someone who has a teddy bear gift basket business can use a picture of a teddy bear in order to have people remember the company.
3. Make sure the text is large enough to read. You want the text and pictures be large enough to see. You want the text to be easy to read. Don't use fancy text on the business card. Keep the text style simple so that people can clearly read the text without trouble.
4. If you are printing the business cards on a regular print instead of being professionally printed then make sure to get some business card paper. You can get luxury business card paper at any office supply store. They have a variety of luxury paper designed for business cards.
5. Make sure to include all of your contact information on the business card such as your telephone number and mailing address. If your company has a website then make sure to remember to put the website address on the business card. If you have a e-mail address then make sure to list the e-mail address on the business too.
6. Put your job title on the business card too. Make sure to let people know by your business card what it is that you do and how to get in contact with you. Business cards are a great for advertising.
7. Double check your business card for any spelling errors along with any other errors. This is important so that your business card will look professional. Have a friend look at the business card before you have it printed. Other people can point out mistakes that we often don't catch.
8. Don't clutter your business card. You don't want your business card to be overloaded with information. You want to keep your business card simple and straight to the point about what services or products that
your company can provide. You can have a list of what services or product that your company can do, but just keep it simple.
9. Make sure that your business isn't boring. People enjoy business cards that are interesting and memorable. You want your future clients to be impressed with your business card enough to want your service or product in the future.
10. Make sure that your business is full color. You want your business card to catch attention and color catches attention. Make sure that your business card has light toned colors so it isn't overwhelming to the reader.
1. Use a catchy sentence that people will remember. You want your business name and what you do to remembered. You want people to remember your business card so make sure it has a catchy sentence.
2. Use a picture that matches what your company is about. You want a picture on your business card that people will remember. You can make something that is easy to remember. For example, someone who has a teddy bear gift basket business can use a picture of a teddy bear in order to have people remember the company.
3. Make sure the text is large enough to read. You want the text and pictures be large enough to see. You want the text to be easy to read. Don't use fancy text on the business card. Keep the text style simple so that people can clearly read the text without trouble.
4. If you are printing the business cards on a regular print instead of being professionally printed then make sure to get some business card paper. You can get luxury business card paper at any office supply store. They have a variety of luxury paper designed for business cards.
5. Make sure to include all of your contact information on the business card such as your telephone number and mailing address. If your company has a website then make sure to remember to put the website address on the business card. If you have a e-mail address then make sure to list the e-mail address on the business too.
6. Put your job title on the business card too. Make sure to let people know by your business card what it is that you do and how to get in contact with you. Business cards are a great for advertising.
7. Double check your business card for any spelling errors along with any other errors. This is important so that your business card will look professional. Have a friend look at the business card before you have it printed. Other people can point out mistakes that we often don't catch.
8. Don't clutter your business card. You don't want your business card to be overloaded with information. You want to keep your business card simple and straight to the point about what services or products that
your company can provide. You can have a list of what services or product that your company can do, but just keep it simple.
9. Make sure that your business isn't boring. People enjoy business cards that are interesting and memorable. You want your future clients to be impressed with your business card enough to want your service or product in the future.
10. Make sure that your business is full color. You want your business card to catch attention and color catches attention. Make sure that your business card has light toned colors so it isn't overwhelming to the reader.
How to Make Business Cards for Free
Business cards are a great way to promote yourself and/or your company that you own or work for. Part of running a profitable business includes keeping the overhead costs down while getting your name and company name
out to prospective clients. Knowing how to make business cards for free is an economical and easy option.
You can very easily make your own business cards for free by checking out the websites highlighted below. Choose your favorite business card design, add the details and you will have cost effective business cards that are representative of you and cost virtually nothing except for the ink and paper.
Business Card Land
Here you will find a website where you can make business cards for free and there are many creative designs offered. Examples of the printable business card choices are: Modern Sparkle, Long Grass, Floral One, Batik, Simple Sans, Simple Serif, Geo Corners and Eclipse. The business card maker is flash based so making your own business cards can be done easily on Mac and PC.
Print Free
When learning how to make business cards, it is often wise to choose a simple, clean design. The site offers options to make business cards that are very simple but efficient enough to get your information and company information out to the prospective client. Making your own business cards on the website include design options such as printing with lines or without lines and the color options are: black, red, green, blue and mixed colors. This website also has a lot of other make your own business related items such as calendars, office forms and printable signs.
Free Business Card Templates
Here you will find a website that offers a variety of make your own business card styles in categories such as: accounting, antique, beauty and cosmetic, bakery, car and accessories, computer and internet, coffee and tea, catering, electric and electronic, florist, hardware, motorcycle, optical and eyewear, pets and accessories, real estate, stationary and office equipment and travel and leisure. Making business cards is easy on this site because within these categories, the amount of choices is substantial.
Free Printable Business Cards
Learning how to make business cards for free is incredibly easy when you have 230 business cards that you can download and print yourself. The business cards designs are tremendous and the site is very easy to navigate.
Some examples of the business cards that you can make are: personal business cards, feminine business cards, photo business cards, funny business cards, nature business cards, abstract design business cards plus many more business card designs.
Apollos Templates
This site has wonderful make your own business card choices with many options to pick from such as: ability to add your own logo, adding custom text to the business card, changing color of title, change color of body text and replicate changes to the entire sheet. Although the website has many options to choose from to make your business card personalized to your own style, the site is easy to navigate and options are easy to understand.
Giving yourself the opportunity to make business cards for free is a wise choice economically for a business owner, plus business cards are a must have to carry with you in the event that a business opportunity arises.
Sources:
www.freeprintablebusinesscards.net
www.printfree.com
www.businesscardland.com
www.free-business-card-templates.com
www.apollostemplates.com
out to prospective clients. Knowing how to make business cards for free is an economical and easy option.
You can very easily make your own business cards for free by checking out the websites highlighted below. Choose your favorite business card design, add the details and you will have cost effective business cards that are representative of you and cost virtually nothing except for the ink and paper.
Business Card Land
Here you will find a website where you can make business cards for free and there are many creative designs offered. Examples of the printable business card choices are: Modern Sparkle, Long Grass, Floral One, Batik, Simple Sans, Simple Serif, Geo Corners and Eclipse. The business card maker is flash based so making your own business cards can be done easily on Mac and PC.
Print Free
When learning how to make business cards, it is often wise to choose a simple, clean design. The site offers options to make business cards that are very simple but efficient enough to get your information and company information out to the prospective client. Making your own business cards on the website include design options such as printing with lines or without lines and the color options are: black, red, green, blue and mixed colors. This website also has a lot of other make your own business related items such as calendars, office forms and printable signs.
Free Business Card Templates
Here you will find a website that offers a variety of make your own business card styles in categories such as: accounting, antique, beauty and cosmetic, bakery, car and accessories, computer and internet, coffee and tea, catering, electric and electronic, florist, hardware, motorcycle, optical and eyewear, pets and accessories, real estate, stationary and office equipment and travel and leisure. Making business cards is easy on this site because within these categories, the amount of choices is substantial.
Free Printable Business Cards
Learning how to make business cards for free is incredibly easy when you have 230 business cards that you can download and print yourself. The business cards designs are tremendous and the site is very easy to navigate.
Some examples of the business cards that you can make are: personal business cards, feminine business cards, photo business cards, funny business cards, nature business cards, abstract design business cards plus many more business card designs.
Apollos Templates
This site has wonderful make your own business card choices with many options to pick from such as: ability to add your own logo, adding custom text to the business card, changing color of title, change color of body text and replicate changes to the entire sheet. Although the website has many options to choose from to make your business card personalized to your own style, the site is easy to navigate and options are easy to understand.
Giving yourself the opportunity to make business cards for free is a wise choice economically for a business owner, plus business cards are a must have to carry with you in the event that a business opportunity arises.
Sources:
www.freeprintablebusinesscards.net
www.printfree.com
www.businesscardland.com
www.free-business-card-templates.com
www.apollostemplates.com
Make Business Cards on Your Computer
Make your own business cards with an existing logo
I've made business cards about every way you can except scribbling my number on a piece of paper! Actually, I've done that too, but it wasn't business. One of the first business cards I made for myself was on Microsoft Publisher. They have some nice templates for business cards, and I even liked one of their logos. On Publisher you can just open the template, type in the information where indicated, replace visuals, put your cursor on corners of things and pull them out to make them bigger or push them back to make them smaller. You can change the colors and then change them back again if you want. They have color schemes you can choose from with a whole palette of coordinating colors, or you can create your own. It really is fun to play around and see what you can come up with. (And I'm just going to dangle that preposition"with," so there.)
Print cards on your home printer
I kept a supply of the Avery business card perforated sheets that Publisher works with, and whenever I ran out of cards I would just print out a sheet and pull the cards apart. I found Avery had a slightly more expensive business card product that separated into cleaner edges. I bought them in ivory or cream rather than stark white, so the cards would look more "Printed." Well,I outgrew those when I started seeing the logo I was using showing up everywhere, on yard signs, powerpoint presentations and other stuff.
Design your own logo for your business cards
For my next business cards, I designed my own logo, just by using a certain type font, and putting two of the letters in a different color from the others. I added bars of color behind the company name, and inserted a background I found somewhere, recolorized and distorted a little. Suddenly, I had an all new original logo and business card. I created this one on Adobe Illustrator, with a little help from Adobe Photoshop. But, except for colorizing the background in Photoshop, and squeezing the letters of the text together in Illustrator, it could have been designed in Microsoft Publisher too.
Send your business cards to an online printer
This time though, I decided to graduate to an online printer instead of printing the cards myself. I was always getting emails from VistaPrint offering incredibly low rates, and sometimes even free business cards. So they walked me through uploading my design, nd I spent a little extra on a glossy finish. Woohoo, I thought they looked great. (see pictures.)
Business cards for Imaginary businesses
But back to Publisher. Just for fun, I made some imaginary business cards on Publisher and uploaded them here to show how easy it is. I've also done brochures with Publisher. It's when I try to have them professionally printed that I run into problems with Publisher. The color settings were not right for professional printing, and the type can't be manipulated very well. (Of course new versions of Publisher may have all the problems ironed out. I was using the 2002 version.)
Make business cards in Adobe Illustrator
Since then, in my business, I've mostly done business cards in Illustrator, and had them printed online at VistaPrint and saved my clients some money. I've had the matching folders and and brochures printed on VistaPrint, and other online printers too. I've also paid professional designers to design logos and business cards for some "high image" clients. It just depends on the budget they have, and the business they're in. Sometimes it's something simple I can do myself, sometimes it takes a "real" designer, sometimes I can find a design I really like online. You can find lots of gorgeous designs for a realtor, for example, but not for a vending machine company.
Use business card templates online
A new way to make professional looking cards in a hurry is to use predesigned cards on Vista Print. They have photos to choose from, and color schemes. A friend who was starting her own home staging business needed cards fast. We found a design on VistaPrint's site that we loved, and I adapted it for her, changing the fonts, etc. The result is very professional and expensive looking. To think it was all done on the computer, ordered on the computer, paid for on the computer, and the cards were delivered in a few days is absolutely amazing.
Business cards back in the day
Years ago when I started in advertising, getting new "corporate identity" materials was a very big deal for clients. You had meetings to discuss mission and "feel", you hired a designer to create a logo, then a layout artist came up with the layout for each piece: the business card, the letterhead, the presentation folders, the brochures, etc. Some designs required original photography which was very expensive and time consuming. Then we would send the text out to a type house and wait for the type to be set and come back. Then a paste-up artist would put it all together according to the layout: the logo, the picture, the text. Off it would go to the printer, and then we would wait for the proof to come back. If there were mistakes, then we would have to wait for a corrected proof. Finally, when everything was signed off on, the proof would go back to the printer and we would wait for the finished product. That's why nobody ever wanted to change their business cards, much less the logo on their trucks. The time line could be as much as two months.
Now that everything is digital, you can change it all in a week on your computer. Sometimes in 3 days!
I'm about ready to redesign my logo again. But what about the 1000 blue business cards I have left? Guess I could use them to wallpaper the office.
It won't be hard to tell which business cards here are for imaginary businesses. Leave me a comment and tell me which ones you think they are.
If you want to read more from this author, click on my picture and visit my titles.
I've made business cards about every way you can except scribbling my number on a piece of paper! Actually, I've done that too, but it wasn't business. One of the first business cards I made for myself was on Microsoft Publisher. They have some nice templates for business cards, and I even liked one of their logos. On Publisher you can just open the template, type in the information where indicated, replace visuals, put your cursor on corners of things and pull them out to make them bigger or push them back to make them smaller. You can change the colors and then change them back again if you want. They have color schemes you can choose from with a whole palette of coordinating colors, or you can create your own. It really is fun to play around and see what you can come up with. (And I'm just going to dangle that preposition"with," so there.)
Print cards on your home printer
I kept a supply of the Avery business card perforated sheets that Publisher works with, and whenever I ran out of cards I would just print out a sheet and pull the cards apart. I found Avery had a slightly more expensive business card product that separated into cleaner edges. I bought them in ivory or cream rather than stark white, so the cards would look more "Printed." Well,I outgrew those when I started seeing the logo I was using showing up everywhere, on yard signs, powerpoint presentations and other stuff.
Design your own logo for your business cards
For my next business cards, I designed my own logo, just by using a certain type font, and putting two of the letters in a different color from the others. I added bars of color behind the company name, and inserted a background I found somewhere, recolorized and distorted a little. Suddenly, I had an all new original logo and business card. I created this one on Adobe Illustrator, with a little help from Adobe Photoshop. But, except for colorizing the background in Photoshop, and squeezing the letters of the text together in Illustrator, it could have been designed in Microsoft Publisher too.
Send your business cards to an online printer
This time though, I decided to graduate to an online printer instead of printing the cards myself. I was always getting emails from VistaPrint offering incredibly low rates, and sometimes even free business cards. So they walked me through uploading my design, nd I spent a little extra on a glossy finish. Woohoo, I thought they looked great. (see pictures.)
Business cards for Imaginary businesses
But back to Publisher. Just for fun, I made some imaginary business cards on Publisher and uploaded them here to show how easy it is. I've also done brochures with Publisher. It's when I try to have them professionally printed that I run into problems with Publisher. The color settings were not right for professional printing, and the type can't be manipulated very well. (Of course new versions of Publisher may have all the problems ironed out. I was using the 2002 version.)
Make business cards in Adobe Illustrator
Since then, in my business, I've mostly done business cards in Illustrator, and had them printed online at VistaPrint and saved my clients some money. I've had the matching folders and and brochures printed on VistaPrint, and other online printers too. I've also paid professional designers to design logos and business cards for some "high image" clients. It just depends on the budget they have, and the business they're in. Sometimes it's something simple I can do myself, sometimes it takes a "real" designer, sometimes I can find a design I really like online. You can find lots of gorgeous designs for a realtor, for example, but not for a vending machine company.
Use business card templates online
A new way to make professional looking cards in a hurry is to use predesigned cards on Vista Print. They have photos to choose from, and color schemes. A friend who was starting her own home staging business needed cards fast. We found a design on VistaPrint's site that we loved, and I adapted it for her, changing the fonts, etc. The result is very professional and expensive looking. To think it was all done on the computer, ordered on the computer, paid for on the computer, and the cards were delivered in a few days is absolutely amazing.
Business cards back in the day
Years ago when I started in advertising, getting new "corporate identity" materials was a very big deal for clients. You had meetings to discuss mission and "feel", you hired a designer to create a logo, then a layout artist came up with the layout for each piece: the business card, the letterhead, the presentation folders, the brochures, etc. Some designs required original photography which was very expensive and time consuming. Then we would send the text out to a type house and wait for the type to be set and come back. Then a paste-up artist would put it all together according to the layout: the logo, the picture, the text. Off it would go to the printer, and then we would wait for the proof to come back. If there were mistakes, then we would have to wait for a corrected proof. Finally, when everything was signed off on, the proof would go back to the printer and we would wait for the finished product. That's why nobody ever wanted to change their business cards, much less the logo on their trucks. The time line could be as much as two months.
Now that everything is digital, you can change it all in a week on your computer. Sometimes in 3 days!
I'm about ready to redesign my logo again. But what about the 1000 blue business cards I have left? Guess I could use them to wallpaper the office.
It won't be hard to tell which business cards here are for imaginary businesses. Leave me a comment and tell me which ones you think they are.
If you want to read more from this author, click on my picture and visit my titles.
Business Card Guide
I read once a long time ago that all you really need to get started in business is a good idea and a great business card, and I've found that's pretty much still true today.
But not all business cards are created equal. A bad business card is more of a liability than an asset, but a great business card is worth ten times what you pay for
it.
Wondering if your business card is an asset -- or a liability? Read on for a checklist of the elements of a great business card.
A great business card:
1. Has your contact information. Sounds basic enough, but some folks actually forget to include their NAMES on their business cards! Your name, your business name, phone number, email address, web URL, and address (either physical or mailing) are all necessary. Anything less diminishes your credibility.
2. Has your core marketing message (not your tag line). A tag line is a positioning statement (such as "Have it your way!") that doesn't necessarily tell what you do, but positions you against your competitors. Your marketing message is probably very close to your elevator speech, and describes the outcome of your work as well as your ideal client (what you do and for whom).
3. Is readable. Print that is too small means your card is unreadable. But small print isn't the only issue; I've seen "arty" business cards that make no sense in terms of layout and copy, so unless you ARE Pablo Picasso, make your card easy to read and not a visual challenge.
4. Looks professional, not like a craft project. For example, unless there is a legitimate reason to hand-letter your business cards (such as you are ten years old, or your business is all about hand-lettering) or do anything else that is "crafty," don't. Not only is it probably a waste of your time, it looks both juvenile and terminally unprofessional.
5. Is visually arresting, although consistent with your overall design concept. Photos are great on business cards, because they are visually arresting, help people recognize you, and because your face (in a photo) is
an implied guarantee, especially for big-ticket items (now you know why most real estate agents have their photos on their business cards).
6. Is the right size. Anything that doesn't fit into a standard card holder is the wrong size. It can be a little short, or a little thick, but never too wide or too tall.
7. Uses both the front and back. Have you ever noticed that when we get a card or a letter, the first thing we do is look at the back? I guess we all want to see what's behind Door #2. Take advantage of that behavior by including more information on the back of your card, such as a Top 10 list or a special offer.
8. Has a secondary use. You card can invite, inform, inspire, or amuse if it includes a special offer, an invitation, an appointment confirmation, tips, calendar, inspirational quote, or Top 10 list.
9. Is given away -- over and over again! Please don't be stingy with your business cards. While you should not force your cards on people who don't want them, you do not need to "qualify" each recipient of your business card. Remember: Just because someone isn't a prospect now doesn't mean that they might not pass on your card to someone who is a good prospect for you.
10. Doubles as a nametag at networking events. Just slip it into one of those plastic holders and clip it on to your lapel for an instant nametag. Not only will it be a great conversation starter, but you'll find people will remember you better.
But not all business cards are created equal. A bad business card is more of a liability than an asset, but a great business card is worth ten times what you pay for
it.
Wondering if your business card is an asset -- or a liability? Read on for a checklist of the elements of a great business card.
A great business card:
1. Has your contact information. Sounds basic enough, but some folks actually forget to include their NAMES on their business cards! Your name, your business name, phone number, email address, web URL, and address (either physical or mailing) are all necessary. Anything less diminishes your credibility.
2. Has your core marketing message (not your tag line). A tag line is a positioning statement (such as "Have it your way!") that doesn't necessarily tell what you do, but positions you against your competitors. Your marketing message is probably very close to your elevator speech, and describes the outcome of your work as well as your ideal client (what you do and for whom).
3. Is readable. Print that is too small means your card is unreadable. But small print isn't the only issue; I've seen "arty" business cards that make no sense in terms of layout and copy, so unless you ARE Pablo Picasso, make your card easy to read and not a visual challenge.
4. Looks professional, not like a craft project. For example, unless there is a legitimate reason to hand-letter your business cards (such as you are ten years old, or your business is all about hand-lettering) or do anything else that is "crafty," don't. Not only is it probably a waste of your time, it looks both juvenile and terminally unprofessional.
5. Is visually arresting, although consistent with your overall design concept. Photos are great on business cards, because they are visually arresting, help people recognize you, and because your face (in a photo) is
an implied guarantee, especially for big-ticket items (now you know why most real estate agents have their photos on their business cards).
6. Is the right size. Anything that doesn't fit into a standard card holder is the wrong size. It can be a little short, or a little thick, but never too wide or too tall.
7. Uses both the front and back. Have you ever noticed that when we get a card or a letter, the first thing we do is look at the back? I guess we all want to see what's behind Door #2. Take advantage of that behavior by including more information on the back of your card, such as a Top 10 list or a special offer.
8. Has a secondary use. You card can invite, inform, inspire, or amuse if it includes a special offer, an invitation, an appointment confirmation, tips, calendar, inspirational quote, or Top 10 list.
9. Is given away -- over and over again! Please don't be stingy with your business cards. While you should not force your cards on people who don't want them, you do not need to "qualify" each recipient of your business card. Remember: Just because someone isn't a prospect now doesn't mean that they might not pass on your card to someone who is a good prospect for you.
10. Doubles as a nametag at networking events. Just slip it into one of those plastic holders and clip it on to your lapel for an instant nametag. Not only will it be a great conversation starter, but you'll find people will remember you better.
Craft for Profit: The Power of Promo Items
Regardless of the type of business you're in, the major hurdle you have to leap is the memory one. You have to find a way of keeping your name in the mind of customers and potential customers, without actually being
in their face.
In the corporate world, there's the whole mini-calender, printed pen, bumper-sticker route. But we're crafters. We want our give-aways to be just as pleasing and personal as the crafts we sell.
Basically, this means preparing some quality promo items that tie in - tightly - with the products you make.
The Basics of a Promo Item
There are a few things that every single promo item must have or do, and they're really easy to remember:
1. Contain your phone number or website URL.
2. Contain your name or business name.
3. Look personal and match your product theme.
4. Cost very little and be super quick to make.
Consider these the four laws of the promo item if you like. There are dozens of ways of incorporating those laws into the item itself.
Promo Item Ideas
Since promo items are something we're going to literally give away, they can't eat into our crafting profits. The second they do that, they've become something much more than a promo item; they're akin to gifting.
In its basic form, the promo item should seem like a gift to the recipient. It should be useful or so pleasing that your customer can't help but smile when they see the little "bonus". You should be able to make a batch of the items (we'll call a batch a full dozen for this article) in under an hour. And you shouldn't have to worry about how many pennies you've thrown into the materials you've used, either.
With those keys in mind, the sky's the limit in what you can do. You'll want to really think about the ideas you like best, and consider ways of using them so that they incorporate your particular craft. Also pay attention to what other crafters are giving as promo items. When you find something that you just ooooh over, you know that you've got inspiration.
Business Cards - The basic business card contains all the information we could possibly need to fulfill our promo item laws. On its own, though, a business card is pretty ... well, corporate. Think about ways that you
can spruce the card up with your crafty creativity, though. If you sell crochet items, consider making a small little border for the card or laminate the card with a crochet motif as decoration. Pattern writers could print a short, easy pattern on the back of their business card. Make dolls or stuffed animals? Why not try printing a sheet of business cards on printable fabric, and using the card as a "patch" on a small doll's clothes?
Sachets - Whether you sew, crochet, or knit, you can create a sachet in no time at all. Try making a simple envelope or pocket sachet and sticking a piece of felt inside that contains a drop or two of essential oil. These will then softly scent the items you're sending, and you can include a little card attached to the sachet that has your business details as well as "refill instructions". The chances of that card getting thrown away are pretty low because it has instructions on it.
Useful Tie-Ins - These kinds of items are as endless and varied as the types of crafts we do, but the basic idea is that the promo item itself supports whatever it is that you sell. Many crochet and knit pattern writers whip up a bunch of stitch markers that can be given away with the patterns they sell. Someone who designs clothing for kids could include belt-loop charms or if they design for babies, a pacifier keeper. A woman I know who sells roving (the material that yarn is spun from) made a killing by letting it be known that she included handcrafted drop-spindles with her orders. The spindles didn't cost her much time or money to make, but added tons of value to the people purchasing her wares.
How to Use Promo Items
It's all fine and good to have a bunch of neat little extras to give away, but what do you actually do with them to prevent them gathering dust on a shelf?
There are numerous ways to use your promo items. If you are selling at a craft fair, try keeping a small basket of your selected promo items out front. Invite browsers and customers alike to go ahead and grab one. Even if they're not buying today, that little item might keep you in mind long enough to draw them back to your products later on.
Another, more obvious way is to include promo items with your sold products. Whether you ship or sell in person, the addition of the bonus can really make a customer's day. It says "Thank you!" in a way that words alone can't touch.
When you offer items that are useful, like the drop spindles, show off how useful they are. This will only work when you sell in person at a shop or a craft fair, but it makes a huge impact when you use it. Instead of
kicking back wondering how long it will be before the next customer comes along, get out in front and draw a few eyes by showing what can be done with your craft. The demonstration will bring curious lookers who will turn into customers - many of whom wouldn't have considered visiting your booth until they saw you showing off your work.
Basically, try to make the giving of a promo item feel as personal as the item itself. It's that caring touch to our crafts that help us sell them in the first place, and the extra thought of a bonus really drives the "I care" bit home.
in their face.
In the corporate world, there's the whole mini-calender, printed pen, bumper-sticker route. But we're crafters. We want our give-aways to be just as pleasing and personal as the crafts we sell.
Basically, this means preparing some quality promo items that tie in - tightly - with the products you make.
The Basics of a Promo Item
There are a few things that every single promo item must have or do, and they're really easy to remember:
1. Contain your phone number or website URL.
2. Contain your name or business name.
3. Look personal and match your product theme.
4. Cost very little and be super quick to make.
Consider these the four laws of the promo item if you like. There are dozens of ways of incorporating those laws into the item itself.
Promo Item Ideas
Since promo items are something we're going to literally give away, they can't eat into our crafting profits. The second they do that, they've become something much more than a promo item; they're akin to gifting.
In its basic form, the promo item should seem like a gift to the recipient. It should be useful or so pleasing that your customer can't help but smile when they see the little "bonus". You should be able to make a batch of the items (we'll call a batch a full dozen for this article) in under an hour. And you shouldn't have to worry about how many pennies you've thrown into the materials you've used, either.
With those keys in mind, the sky's the limit in what you can do. You'll want to really think about the ideas you like best, and consider ways of using them so that they incorporate your particular craft. Also pay attention to what other crafters are giving as promo items. When you find something that you just ooooh over, you know that you've got inspiration.
Business Cards - The basic business card contains all the information we could possibly need to fulfill our promo item laws. On its own, though, a business card is pretty ... well, corporate. Think about ways that you
can spruce the card up with your crafty creativity, though. If you sell crochet items, consider making a small little border for the card or laminate the card with a crochet motif as decoration. Pattern writers could print a short, easy pattern on the back of their business card. Make dolls or stuffed animals? Why not try printing a sheet of business cards on printable fabric, and using the card as a "patch" on a small doll's clothes?
Sachets - Whether you sew, crochet, or knit, you can create a sachet in no time at all. Try making a simple envelope or pocket sachet and sticking a piece of felt inside that contains a drop or two of essential oil. These will then softly scent the items you're sending, and you can include a little card attached to the sachet that has your business details as well as "refill instructions". The chances of that card getting thrown away are pretty low because it has instructions on it.
Useful Tie-Ins - These kinds of items are as endless and varied as the types of crafts we do, but the basic idea is that the promo item itself supports whatever it is that you sell. Many crochet and knit pattern writers whip up a bunch of stitch markers that can be given away with the patterns they sell. Someone who designs clothing for kids could include belt-loop charms or if they design for babies, a pacifier keeper. A woman I know who sells roving (the material that yarn is spun from) made a killing by letting it be known that she included handcrafted drop-spindles with her orders. The spindles didn't cost her much time or money to make, but added tons of value to the people purchasing her wares.
How to Use Promo Items
It's all fine and good to have a bunch of neat little extras to give away, but what do you actually do with them to prevent them gathering dust on a shelf?
There are numerous ways to use your promo items. If you are selling at a craft fair, try keeping a small basket of your selected promo items out front. Invite browsers and customers alike to go ahead and grab one. Even if they're not buying today, that little item might keep you in mind long enough to draw them back to your products later on.
Another, more obvious way is to include promo items with your sold products. Whether you ship or sell in person, the addition of the bonus can really make a customer's day. It says "Thank you!" in a way that words alone can't touch.
When you offer items that are useful, like the drop spindles, show off how useful they are. This will only work when you sell in person at a shop or a craft fair, but it makes a huge impact when you use it. Instead of
kicking back wondering how long it will be before the next customer comes along, get out in front and draw a few eyes by showing what can be done with your craft. The demonstration will bring curious lookers who will turn into customers - many of whom wouldn't have considered visiting your booth until they saw you showing off your work.
Basically, try to make the giving of a promo item feel as personal as the item itself. It's that caring touch to our crafts that help us sell them in the first place, and the extra thought of a bonus really drives the "I care" bit home.
The Power of Your Business Card
Sure, everyone needs business cards. But why not make your business card do double or triple the work of an average business card?
Here are 4 proven ways to supercharge your business card into a powerful business tool.
1.Use the back of the card to include sales info. Good marketers know that customers need to be reminded at every opportunity how your product or service will help them. Even though business cards are small, you can still include some information on the back of the card that will remind customers how you are unique, better, and valuable. You could include a short bullet list of features and benefits. You could display some stats and figures, mention awards your product has won, or list a brief testimonial or two. Just a little bit of extra sales information can make a big difference in building relationships and encouraging sales.
2.Use the back of the card as an appointment card. Dr.'s and dentists do this frequently. But other businesses can use the same concept. Sales people of all kinds, realtors, consultants, professionals and more can use the back of their business cards as an appointment card. This is a good idea for several reasons. First of all, it increases the likelihood that a prospect will keep your card close by - at least until you have the appointment. Second, it gives you a reason to give customers more than one business card. The more cards they have the more likely they are to always have one handy when they need it. This is especially important if they are referring you to a friend or relative. They may have an extra card of yours laying around that they can give to someone.
3.Use the back of the card as a map to your store. Maps are important for people who are new to the area, or people who aren't familiar with your part of town. Also, with just a mailing address listed on the front of the card many people don't know exactly where you are. A map will clear that up and again help increase the chances of them hanging on to your card
4.Place a 12-month calendar on the back of your card. This is a very clever technique that is sure to have people keeping your card handy at all times. Believe it or not a 12-month calendar fits nicely on the back of
a standard size business card. I remember when I got my first card that had a calendar on the back of it. It was from an insurance salesman and I literally kept it by my desk at all times. I found it to be much quicker to glance at this card than to thumb through a wall calendar or even to visit Outlook. Each time I picked up the card I remembered who had given it to me. This practice is applicable to any business and in any industry.
Using even one of these 4 tips will greatly enhance the impact that you business card will have. With just a little creative you can turn your business card from a necessary evil, to a powerful tool.
Here are 4 proven ways to supercharge your business card into a powerful business tool.
1.Use the back of the card to include sales info. Good marketers know that customers need to be reminded at every opportunity how your product or service will help them. Even though business cards are small, you can still include some information on the back of the card that will remind customers how you are unique, better, and valuable. You could include a short bullet list of features and benefits. You could display some stats and figures, mention awards your product has won, or list a brief testimonial or two. Just a little bit of extra sales information can make a big difference in building relationships and encouraging sales.
2.Use the back of the card as an appointment card. Dr.'s and dentists do this frequently. But other businesses can use the same concept. Sales people of all kinds, realtors, consultants, professionals and more can use the back of their business cards as an appointment card. This is a good idea for several reasons. First of all, it increases the likelihood that a prospect will keep your card close by - at least until you have the appointment. Second, it gives you a reason to give customers more than one business card. The more cards they have the more likely they are to always have one handy when they need it. This is especially important if they are referring you to a friend or relative. They may have an extra card of yours laying around that they can give to someone.
3.Use the back of the card as a map to your store. Maps are important for people who are new to the area, or people who aren't familiar with your part of town. Also, with just a mailing address listed on the front of the card many people don't know exactly where you are. A map will clear that up and again help increase the chances of them hanging on to your card
4.Place a 12-month calendar on the back of your card. This is a very clever technique that is sure to have people keeping your card handy at all times. Believe it or not a 12-month calendar fits nicely on the back of
a standard size business card. I remember when I got my first card that had a calendar on the back of it. It was from an insurance salesman and I literally kept it by my desk at all times. I found it to be much quicker to glance at this card than to thumb through a wall calendar or even to visit Outlook. Each time I picked up the card I remembered who had given it to me. This practice is applicable to any business and in any industry.
Using even one of these 4 tips will greatly enhance the impact that you business card will have. With just a little creative you can turn your business card from a necessary evil, to a powerful tool.
Tips to Consider when Choosing a Business Credit Card
So it's come to a time when you think a business credit card would be very beneficial to keeping the cash flow consistent and helping track purchases rather than collecting the endless trail of grocery store or
Walmart receipts for small purchases.
This really is a big decision. Many needs can be the same with businesses but then some are not. You need to ask:
What do I need the credit card to do for my business?
How much credit does my business really need?
How much can I afford to charge and reasonably pay back the next month?
Will the owner be the only one using the card or will employees be using it?
Which expenses will I'll be paying with it?
Will I use it for recurring monthly payments?
Does the business get a better deal on pricing if they pay upfront for inventory? If a payment is made before delivery will the business be able to pay off the receipt of goods within 30 days? Paying before finance charges are applied might be necessary to get the benefit of paying for the shipment early.
It's the same idea for other bills you might decide to pay off earlier every month. You could negotiate better terms when buying reoccurs monthly or your business buys 2 months in advance to get a better price and a break on monthly shipping.
The question of whether employees will use the card is a good one because some credit card companies have special promotions at times to accommodate that business need. If employees have their own cards you will be able to track spending a little closer. There are options with some business cards that protect owners from misuse by employees. Owners also have the ability to put spending limits on employee cards. Your company will also have the protection that comes with the card against fraud, against faulty goods as well as service that wasn't satisfactory.
Do you expect there will be enough travel miles to warrant getting a card that offers rewards like free flight fares or nights at a hotel? The perks like these are offered to be more attractive in getting the business community on line with a particular credit card. Some cards even offer free gas when the card is used for traveling by car.
By asking all the questions mentioned your company has a better chance at choosing the best credit card for it's needs. And we saved the best for last. Consider what is the best interest rate you can get? Is a
lower interest rate more attractive than other savings or perks you might be able to get with your card?
More incentive to sit and reason this choice with all benefits considered. Wishing you great growth and many returns with your business.
Walmart receipts for small purchases.
This really is a big decision. Many needs can be the same with businesses but then some are not. You need to ask:
What do I need the credit card to do for my business?
How much credit does my business really need?
How much can I afford to charge and reasonably pay back the next month?
Will the owner be the only one using the card or will employees be using it?
Which expenses will I'll be paying with it?
Will I use it for recurring monthly payments?
Does the business get a better deal on pricing if they pay upfront for inventory? If a payment is made before delivery will the business be able to pay off the receipt of goods within 30 days? Paying before finance charges are applied might be necessary to get the benefit of paying for the shipment early.
It's the same idea for other bills you might decide to pay off earlier every month. You could negotiate better terms when buying reoccurs monthly or your business buys 2 months in advance to get a better price and a break on monthly shipping.
The question of whether employees will use the card is a good one because some credit card companies have special promotions at times to accommodate that business need. If employees have their own cards you will be able to track spending a little closer. There are options with some business cards that protect owners from misuse by employees. Owners also have the ability to put spending limits on employee cards. Your company will also have the protection that comes with the card against fraud, against faulty goods as well as service that wasn't satisfactory.
Do you expect there will be enough travel miles to warrant getting a card that offers rewards like free flight fares or nights at a hotel? The perks like these are offered to be more attractive in getting the business community on line with a particular credit card. Some cards even offer free gas when the card is used for traveling by car.
By asking all the questions mentioned your company has a better chance at choosing the best credit card for it's needs. And we saved the best for last. Consider what is the best interest rate you can get? Is a
lower interest rate more attractive than other savings or perks you might be able to get with your card?
More incentive to sit and reason this choice with all benefits considered. Wishing you great growth and many returns with your business.
Benefits of a Small Business Credit Card
When you have your own small business, benefits are important. One of tools that you can use to grow your small business is a small business credit card. There are several benefits to having a small business credit
card:
Build your business credit history
Even businesses have credit histories. It can be important for you to build a good credit history, as it will allow you to take advantages of other opportunities to expand your business. Before you can expand with a small business loan, you need to have an established business credit history.
Higher spending limits
A small business credit card comes with higher spending limits than a personal credit card. This means that you have the available capital to get what you need, when you need it. And it can be easier than getting approved for a loan from a bank. Just make sure that you carefully consider large charges to your small business credit card.
Earn rewards and perks
Many small business credit cards come with rewards and perks that you can use to further build your business. Earn travel, business equipment and gifts. These are all things that cost money -- and you can earn them for free!
Protection for your small business
Credit cards offer extra protection. You can get things like traveler's insurance and rental cars through your credit card. Additionally, all credit cards, including small business credit cards, come with fraud protection. This will protect you better than a debit card.
Legitimacy
A small business credit card can add legitimacy to your company. It shows that you are a serious business, with separate accounting practices. Additionally, a small business credit card can simplify accounting by eliminating cash and checks. A built-in record of your business transactions is standard. Just make sure that you keep your small business credit card for your business only.
Enforce company spending limits
This can be very important. You can get additional cards for trusted employees, and you can set the limits. You can choose limits for the whole company, or choose limits for certain trips or individuals. You can be more
in control, and everything is tracked.
It is important to remember that you need to be as responsible with your small business credit card as you are with a personal credit card. Don't let things get out of hand. If you use a small business credit wisely, it becomes an asset.
card:
Build your business credit history
Even businesses have credit histories. It can be important for you to build a good credit history, as it will allow you to take advantages of other opportunities to expand your business. Before you can expand with a small business loan, you need to have an established business credit history.
Higher spending limits
A small business credit card comes with higher spending limits than a personal credit card. This means that you have the available capital to get what you need, when you need it. And it can be easier than getting approved for a loan from a bank. Just make sure that you carefully consider large charges to your small business credit card.
Earn rewards and perks
Many small business credit cards come with rewards and perks that you can use to further build your business. Earn travel, business equipment and gifts. These are all things that cost money -- and you can earn them for free!
Protection for your small business
Credit cards offer extra protection. You can get things like traveler's insurance and rental cars through your credit card. Additionally, all credit cards, including small business credit cards, come with fraud protection. This will protect you better than a debit card.
Legitimacy
A small business credit card can add legitimacy to your company. It shows that you are a serious business, with separate accounting practices. Additionally, a small business credit card can simplify accounting by eliminating cash and checks. A built-in record of your business transactions is standard. Just make sure that you keep your small business credit card for your business only.
Enforce company spending limits
This can be very important. You can get additional cards for trusted employees, and you can set the limits. You can choose limits for the whole company, or choose limits for certain trips or individuals. You can be more
in control, and everything is tracked.
It is important to remember that you need to be as responsible with your small business credit card as you are with a personal credit card. Don't let things get out of hand. If you use a small business credit wisely, it becomes an asset.
Advantages of Using a Business Credit Card
Congratulations! Careful planning and stout determination have transformed your ideas into reality. Your new business is proof that the American dream still exists. Small business ownership, though, is not for the faint
of heart. Juggling all the daily responsibilities that come with entrepreneurship can be overwhelming. Managing your time wisely should be a top priority.
A business credit card offers the advantage of saving you precious time and reducing stress. Some credit card companies even offer a card with 60 days of no interest (instead of the usual 30 days) when you charge new purchases on your card. And with a business credit card, you will usually be able to obtain a larger line of credit than if you applied for just a personal credit card.
Every business needs supplies and services. All these transactions can quickly become the small business owner’s arch nemesis if not handled correctly. Carrying cash is burdensome and unnecessarily leaves you at risk for theft. Writing checks generates a checkbook that needs to be balanced more frequently (and a big headache when it doesn’t add up at the end of the month).
Using a business credit card makes it easy to purchase business items. Only one check is written each month—instead of the usual twenty or more. Going a step further, perhaps clicking suits your style; credit card payments can be made via an online checking account. Online credit card statements can even be integrated into your accounting software.
Often times, a small business owner isn’t the only one making purchases. Are invoices and expense reports from employees piling up on your desk? Business credit cards end the paper pile-up and organize employee spending. An online account can monitor each employee’s credit card usage on a daily basis.
Last, but not least, using a business credit card has its perks. Discounts on airfare and merchandise are available, and varies with the card. Some cards offer savings through a point system, while others offer cash
rebates. Choose from a cash back plan where you earn a specified amount each time you make purchases with your card (usually 2% of the total spent).
In a nutshell, business credit cards help businesses to operate more efficiently while offering great incentives. With so many cards that have no annual fee and low APR rates, what are you waiting for? Charging instead of using cash or checks is the right choice for a growing business like yours.
of heart. Juggling all the daily responsibilities that come with entrepreneurship can be overwhelming. Managing your time wisely should be a top priority.
A business credit card offers the advantage of saving you precious time and reducing stress. Some credit card companies even offer a card with 60 days of no interest (instead of the usual 30 days) when you charge new purchases on your card. And with a business credit card, you will usually be able to obtain a larger line of credit than if you applied for just a personal credit card.
Every business needs supplies and services. All these transactions can quickly become the small business owner’s arch nemesis if not handled correctly. Carrying cash is burdensome and unnecessarily leaves you at risk for theft. Writing checks generates a checkbook that needs to be balanced more frequently (and a big headache when it doesn’t add up at the end of the month).
Using a business credit card makes it easy to purchase business items. Only one check is written each month—instead of the usual twenty or more. Going a step further, perhaps clicking suits your style; credit card payments can be made via an online checking account. Online credit card statements can even be integrated into your accounting software.
Often times, a small business owner isn’t the only one making purchases. Are invoices and expense reports from employees piling up on your desk? Business credit cards end the paper pile-up and organize employee spending. An online account can monitor each employee’s credit card usage on a daily basis.
Last, but not least, using a business credit card has its perks. Discounts on airfare and merchandise are available, and varies with the card. Some cards offer savings through a point system, while others offer cash
rebates. Choose from a cash back plan where you earn a specified amount each time you make purchases with your card (usually 2% of the total spent).
In a nutshell, business credit cards help businesses to operate more efficiently while offering great incentives. With so many cards that have no annual fee and low APR rates, what are you waiting for? Charging instead of using cash or checks is the right choice for a growing business like yours.
Citi Professional Credit Card Review
If you are looking for a new credit card for your business, then you should check out the Citi Professional Credit Card. This card has no annual fee, and no interest on balance transfers for one year. The Citi
Professional Credit Card has a variable 12.49 percent interest rate on any credit card transactions. Unfortunately there is no period with a low introductory interest rate. The good news is the benefits of the Citi Professional Credit Card when it comes to rewards are very good though. These include enough "ThankYou Points" credited to your account after your first transaction for a $100 gift card.
The total points you receive after your first transaction is 10,000 "ThankYou Points". This means that every "ThankYou Point" is worth one cent. This is good news for you if your business credit card is used for purchasing a lot of meals, gas, or car rentals. Why would that be beneficial to Citi Professional Credit Card Owners? It is because for each of these categories you receive three "ThankYou Points" for every dollar spent. This means in effect that you are earning 3 percent back on ever transaction you make with the Citi Professional Credit Card in these categories. Not a bad benefit for spending money just like you would with cash. Of course if you spent cash you wouldn't get the three percent back like you do with the City Professional Credit Card.
The "ThankYou Points" are not the only benefit of signing up for a City Professional Credit Card for your business. You will also get managment tools online that will help you categorize your expenses for when tax time comes around. This allows you to categorize and total the expenses in each category. The City Professional Credit Card also includes several benefits for you when you travel. You get travel accident insurance, travel and emergency insurance and Auto Rental insurance when using your Citi Professional Credit Card.
For those of you that are looking to save money on prescriptions, as a City Professional Credit Card holder you will also receive a prescription discount card. This discount card will give
you anywhere from ten to sixty percent off your prescription costs at participating retailers.
Some things you should be aware of with the Citi Professional Credit Card though is that if you fail to make your payments on time, the 0% APR for your balance transfers may not remain in effect as a result of the late payment. There is also a fee that the City Professional Credit Card holder will have to pay for their initial balance transfer. As always, reward credit cards are only a good investment if you pay off the balance of credit card transactions on a monthly basis. Otherwise the interest you pay on balances outweighs the benefits of the rewards.
Overall as a business owner, the Citi Professional Credit Card is a card that is worth applying for. Why not go ahead and enjoy that free $100 gift card after your first purchase, 3% back on purchases in many categories, and other benefits when paying expenses with your Citi Professional Credit Card instead of carrying cash.
Professional Credit Card has a variable 12.49 percent interest rate on any credit card transactions. Unfortunately there is no period with a low introductory interest rate. The good news is the benefits of the Citi Professional Credit Card when it comes to rewards are very good though. These include enough "ThankYou Points" credited to your account after your first transaction for a $100 gift card.
The total points you receive after your first transaction is 10,000 "ThankYou Points". This means that every "ThankYou Point" is worth one cent. This is good news for you if your business credit card is used for purchasing a lot of meals, gas, or car rentals. Why would that be beneficial to Citi Professional Credit Card Owners? It is because for each of these categories you receive three "ThankYou Points" for every dollar spent. This means in effect that you are earning 3 percent back on ever transaction you make with the Citi Professional Credit Card in these categories. Not a bad benefit for spending money just like you would with cash. Of course if you spent cash you wouldn't get the three percent back like you do with the City Professional Credit Card.
The "ThankYou Points" are not the only benefit of signing up for a City Professional Credit Card for your business. You will also get managment tools online that will help you categorize your expenses for when tax time comes around. This allows you to categorize and total the expenses in each category. The City Professional Credit Card also includes several benefits for you when you travel. You get travel accident insurance, travel and emergency insurance and Auto Rental insurance when using your Citi Professional Credit Card.
For those of you that are looking to save money on prescriptions, as a City Professional Credit Card holder you will also receive a prescription discount card. This discount card will give
you anywhere from ten to sixty percent off your prescription costs at participating retailers.
Some things you should be aware of with the Citi Professional Credit Card though is that if you fail to make your payments on time, the 0% APR for your balance transfers may not remain in effect as a result of the late payment. There is also a fee that the City Professional Credit Card holder will have to pay for their initial balance transfer. As always, reward credit cards are only a good investment if you pay off the balance of credit card transactions on a monthly basis. Otherwise the interest you pay on balances outweighs the benefits of the rewards.
Overall as a business owner, the Citi Professional Credit Card is a card that is worth applying for. Why not go ahead and enjoy that free $100 gift card after your first purchase, 3% back on purchases in many categories, and other benefits when paying expenses with your Citi Professional Credit Card instead of carrying cash.
Small Business Credit Cards: An Overview
In today's growing credit card industry, there are scores of options from which to choose. Do you go with low interest rates or awesome reward points? Do you bother with annual
fees or weigh the benefits? Small business credit cards are even more numerous and diverse than personal cards, and choosing the perfect one for your company can take some time.
I've compiled an overview of cards from various financial institutions to aid in your decision. You can compare interest rates with reward points and annual fees.
Chase Bank
1. Chase Platinum Visa Business Card
Interest Rate: 0% APR for 12 months; a variable APR thereafter starting as low as 11.24%
Annual Fee: None
Rewards: None
Benefits: Up to $1,000,000 Travel Accident Insurance, Auto Rental Collision Damage Waiver, Up to $3,000 Lost Luggage Insurance, Zero Liability On Unauthorized Purchases.
2. Chase Visa Platinum Business Card with Free Cash Rewards
Interest Rate: 0% for up to 12 months; variable thereafter starting at 13.24%
Annual Fee: None
Reward: Earn cash back with each purchase; earn 1,000 reward points after making first purchase.
Benefits: Up to $1,000,000 Travel Accident Insurance, Travel and Emergency Assistance, Purchase Security and Extended Protection.
3. Chase Continental Business Card
Interest Rate: 6.99% fixed APR for up to 6 months; 16.24% thereafter
Annual Fee: $75.00
Rewards: 10,000 OnePass®Bonus Miles after your first purchase, Double Miles at Continental.
Benefits: MasterCard Global Service, Up to $3,000 Lost Luggage Insurance, MasterRental® Insurance Coverage.
4. GM Business Card
Interest Rate: A variable APR, 13.24%
Annual Fee: None
Rewards: Earning points toward a new GM vehicle; cash back from paying at the pump.
Benefits: Master RoadAssist® Roadside Coverage, Travel Services Medical Protection, Emergency Cash and Card Replacement.
5. Marriot Rewards Business Card
Interest Rate: 3.9% fixed APR for up to 6 months; a variable 17.24% thereafter.
Annual Fee: Waived first year; $30.00 thereafter
Rewards: Earning Marriot reward points for free travel.
Benefits: Trip Delay Reimbursement, Up to $3,000 Lost Luggage Insurance, Auto Rental Collision Damage Waiver.
For More Information: www.chase.com
Bank Of America
1. Power Rewards Platinum Visa Business Card
Interest Rate: Prime plus 6.99%
Annual Fee: None
Rewards: Up to 2% cash back, gift certificates, travel rewards, and merchandise; 1,000 bonus points after first purchase
2. Platinum Visa Business Card
Interest Rate: Prime plus either 6.99% or 9.99%
Annual Fee: None
Rewards: None
3. US Airways Visa Business Card
Interest Rate: Prime plus 9.99%
Annual Fee: $75.00; $15.00 each for extra cardholders
Rewards: 1 mile for every dollar spent in purchases, double miles on purchases from US Airways, and 15,000 bonus miles after first purchase.
4. Alaska Airlines Visa Business Card
Interest Rate: Prime plus 9.99%
Annual Fee: $50.00; $25.00 each for extra cardholders
Rewards: 1 mile for every dollar spent in purchases, Double miles on purchases from Alaska orHorizon Airlines, 10,000 bonus miles after first purchase.
Benefits of all BOA Business Cards: Credit limit up to $25,000, savings and discounts on business purchases, Overdraft Protection for linked business checking accounts.
For More Information: www.bankofamerica.com
Wells Fargo
1. Wells Fargo Business Platinum Card
Interest Rate: Prime + 4% to Prime + 14%
Annual Fee: None
Rewards: None
Benefits: Wells Fargo Protect Program, Travel Insurance, Auto Rental Insurance
2. Wells Fargo Business Secure Card
Interest Rate: Prime + 9.9%
Annual Fee: $50.00
Rewards: None
Benefits: Wells Fargo Protect Program, Travel Insurance, Auto Rental Insurance
3. Wells Fargo Corporate Card
Interest Rate: Prime + 2.8% up to Prime + 9.8%
Annual Fee: $10.00/each for 6-50 cards; None for 51+ cards
Rewards: Wells Fargo Protect Program, Travel Insurance, Auto Rental Insurance, Master Coverage
NOTE: This is for large corporations, and business owners must order at least 6 cards to apply
For More Information: www.wellsfargo.com
fees or weigh the benefits? Small business credit cards are even more numerous and diverse than personal cards, and choosing the perfect one for your company can take some time.
I've compiled an overview of cards from various financial institutions to aid in your decision. You can compare interest rates with reward points and annual fees.
Chase Bank
1. Chase Platinum Visa Business Card
Interest Rate: 0% APR for 12 months; a variable APR thereafter starting as low as 11.24%
Annual Fee: None
Rewards: None
Benefits: Up to $1,000,000 Travel Accident Insurance, Auto Rental Collision Damage Waiver, Up to $3,000 Lost Luggage Insurance, Zero Liability On Unauthorized Purchases.
2. Chase Visa Platinum Business Card with Free Cash Rewards
Interest Rate: 0% for up to 12 months; variable thereafter starting at 13.24%
Annual Fee: None
Reward: Earn cash back with each purchase; earn 1,000 reward points after making first purchase.
Benefits: Up to $1,000,000 Travel Accident Insurance, Travel and Emergency Assistance, Purchase Security and Extended Protection.
3. Chase Continental Business Card
Interest Rate: 6.99% fixed APR for up to 6 months; 16.24% thereafter
Annual Fee: $75.00
Rewards: 10,000 OnePass®Bonus Miles after your first purchase, Double Miles at Continental.
Benefits: MasterCard Global Service, Up to $3,000 Lost Luggage Insurance, MasterRental® Insurance Coverage.
4. GM Business Card
Interest Rate: A variable APR, 13.24%
Annual Fee: None
Rewards: Earning points toward a new GM vehicle; cash back from paying at the pump.
Benefits: Master RoadAssist® Roadside Coverage, Travel Services Medical Protection, Emergency Cash and Card Replacement.
5. Marriot Rewards Business Card
Interest Rate: 3.9% fixed APR for up to 6 months; a variable 17.24% thereafter.
Annual Fee: Waived first year; $30.00 thereafter
Rewards: Earning Marriot reward points for free travel.
Benefits: Trip Delay Reimbursement, Up to $3,000 Lost Luggage Insurance, Auto Rental Collision Damage Waiver.
For More Information: www.chase.com
Bank Of America
1. Power Rewards Platinum Visa Business Card
Interest Rate: Prime plus 6.99%
Annual Fee: None
Rewards: Up to 2% cash back, gift certificates, travel rewards, and merchandise; 1,000 bonus points after first purchase
2. Platinum Visa Business Card
Interest Rate: Prime plus either 6.99% or 9.99%
Annual Fee: None
Rewards: None
3. US Airways Visa Business Card
Interest Rate: Prime plus 9.99%
Annual Fee: $75.00; $15.00 each for extra cardholders
Rewards: 1 mile for every dollar spent in purchases, double miles on purchases from US Airways, and 15,000 bonus miles after first purchase.
4. Alaska Airlines Visa Business Card
Interest Rate: Prime plus 9.99%
Annual Fee: $50.00; $25.00 each for extra cardholders
Rewards: 1 mile for every dollar spent in purchases, Double miles on purchases from Alaska orHorizon Airlines, 10,000 bonus miles after first purchase.
Benefits of all BOA Business Cards: Credit limit up to $25,000, savings and discounts on business purchases, Overdraft Protection for linked business checking accounts.
For More Information: www.bankofamerica.com
Wells Fargo
1. Wells Fargo Business Platinum Card
Interest Rate: Prime + 4% to Prime + 14%
Annual Fee: None
Rewards: None
Benefits: Wells Fargo Protect Program, Travel Insurance, Auto Rental Insurance
2. Wells Fargo Business Secure Card
Interest Rate: Prime + 9.9%
Annual Fee: $50.00
Rewards: None
Benefits: Wells Fargo Protect Program, Travel Insurance, Auto Rental Insurance
3. Wells Fargo Corporate Card
Interest Rate: Prime + 2.8% up to Prime + 9.8%
Annual Fee: $10.00/each for 6-50 cards; None for 51+ cards
Rewards: Wells Fargo Protect Program, Travel Insurance, Auto Rental Insurance, Master Coverage
NOTE: This is for large corporations, and business owners must order at least 6 cards to apply
For More Information: www.wellsfargo.com
Top Five Credit Card Websites
Finding the right credit card for which to apply is a daunting task. Calling various companies, searching their websites, and ardently comparing fees and interest rates can take forever,
and let's face it: we have better things to do. But short of picking the first one you happen upon, what else is there to be done?
I have found the answer: Credit Card Offer Websites. These businesses make money each time a consumer fills out an application through their website. It costs nothing for you to use this service, and you can find offers from multiple companies all in one place. Using these websites, you can search for the type of card you want, or just search them and compare.
1. www.Credit-Card-Surplus.com - "If We Don't Have The Credit Card You're Looking For, It Probably Doesn't Exist"
This website is my favorite offer site because it is extremely well-laid-out. They feature cards from Chase, Bank of America, American Express, Discover, Citi, Bank One, Advanta and Orchard. And not only can you search by the type of card - such as airline rewards or student cards - but also by features. If are looking for cards that have low interest rates, no annual fees, high credit limits, or for bad credit, then you can run that search via this site. They also have scores of articles about finding the right credit card, credit card trends and ways to help consumers build their credit scores.
2. www.creditcards.com - "#1 Rated Site To Search, Compare and Apply For Credit Cards"
This is my second favorite site because they allow consumers to easily compare credit cards with other offers. They also have applications for pre-paid debit cards and credit card specials. CreditCards.com features cards from Chase, Bank of America, HSBC, Citi, American Express, Discover, First Premier Bank, and Advanta. They have an article center where you can research credit card trends as well as a section for news about credit cards. Especially informative is their Frequently Asked Questions section about applying for credit cards online.
3. www.CreditLand.com - "Tell Us Who You Are, and We'll Help You Find The Right Card"
This site would be wonderful if it weren't so hard on the eyes. Flashy colors, varying fonts and imbedded images make this site difficult to navigate and understand. They have a lot of information, and they've
tried to cram it all on their home page, which makes perusing the site a little overwhelming. Still, they have some excellent information, and one of the largest selections of credit cards I've ever seen. They have great resources about how to improve bad credit and how to establish non-existant credit. They also boast efficient customer service - if you call, they will help.
4. www.CreditCardGuide.com - "The Leading Source of Credit Cards Online"
I don't know about the leading source, but this site does have quite a bit of information. The main divisions for CreditCardGuide are good credit, poor credit, and student cards. They also have offers for airline cards, automobile cards, business cards, gas rebate cards and cash reward cards. They give full, immediate details about the APR's, annual fees, grace periods and rewards, as well as additional benefits of each card. They also have instant online approval offers, which give the consumer an answer with a few minutes, directly from their website.
5. www.MyCardChoices.com - "Find The Credit Card That Fits You Perfectly"
As with CreditLand.com, this site is a little hard on the eyes. The colors were a poor choice and the links are difficult to navigate. However, this site also has unique offers that you won't find anywhere else, such as environmental and cause-related cards, entertainment cards, sports cards and recreational cards. The site itself is owned my MBNA, which has now joined with Bank of America, and they only offer Visa & Mastercard offers.
and let's face it: we have better things to do. But short of picking the first one you happen upon, what else is there to be done?
I have found the answer: Credit Card Offer Websites. These businesses make money each time a consumer fills out an application through their website. It costs nothing for you to use this service, and you can find offers from multiple companies all in one place. Using these websites, you can search for the type of card you want, or just search them and compare.
1. www.Credit-Card-Surplus.com - "If We Don't Have The Credit Card You're Looking For, It Probably Doesn't Exist"
This website is my favorite offer site because it is extremely well-laid-out. They feature cards from Chase, Bank of America, American Express, Discover, Citi, Bank One, Advanta and Orchard. And not only can you search by the type of card - such as airline rewards or student cards - but also by features. If are looking for cards that have low interest rates, no annual fees, high credit limits, or for bad credit, then you can run that search via this site. They also have scores of articles about finding the right credit card, credit card trends and ways to help consumers build their credit scores.
2. www.creditcards.com - "#1 Rated Site To Search, Compare and Apply For Credit Cards"
This is my second favorite site because they allow consumers to easily compare credit cards with other offers. They also have applications for pre-paid debit cards and credit card specials. CreditCards.com features cards from Chase, Bank of America, HSBC, Citi, American Express, Discover, First Premier Bank, and Advanta. They have an article center where you can research credit card trends as well as a section for news about credit cards. Especially informative is their Frequently Asked Questions section about applying for credit cards online.
3. www.CreditLand.com - "Tell Us Who You Are, and We'll Help You Find The Right Card"
This site would be wonderful if it weren't so hard on the eyes. Flashy colors, varying fonts and imbedded images make this site difficult to navigate and understand. They have a lot of information, and they've
tried to cram it all on their home page, which makes perusing the site a little overwhelming. Still, they have some excellent information, and one of the largest selections of credit cards I've ever seen. They have great resources about how to improve bad credit and how to establish non-existant credit. They also boast efficient customer service - if you call, they will help.
4. www.CreditCardGuide.com - "The Leading Source of Credit Cards Online"
I don't know about the leading source, but this site does have quite a bit of information. The main divisions for CreditCardGuide are good credit, poor credit, and student cards. They also have offers for airline cards, automobile cards, business cards, gas rebate cards and cash reward cards. They give full, immediate details about the APR's, annual fees, grace periods and rewards, as well as additional benefits of each card. They also have instant online approval offers, which give the consumer an answer with a few minutes, directly from their website.
5. www.MyCardChoices.com - "Find The Credit Card That Fits You Perfectly"
As with CreditLand.com, this site is a little hard on the eyes. The colors were a poor choice and the links are difficult to navigate. However, this site also has unique offers that you won't find anywhere else, such as environmental and cause-related cards, entertainment cards, sports cards and recreational cards. The site itself is owned my MBNA, which has now joined with Bank of America, and they only offer Visa & Mastercard offers.
Consumer Tips for Avoiding Hidden Credit Card Fees
From the time most of us were teens, we probably had a credit card or two. Credit cards and charge cards were a fantastic way of getting what we needed now while paying for it later.
Unfortunately as most of us are discovering, credit cards are full of hidden fees. According to the National Retail Federation (NRF), hidden credit card fees are costing Americans over $400 a year. These fees come on
top of all that interest charges as well, which lately have been slowly creeping upwards if you haven't been paying attention.
While it's against federal law for credit card companies to impose hidden fees, there is no law compelling the credit companies to explain surcharges in easy to understand terms, hence the terms "hidden fees." These fees are usually explained in teeny tiny print on the backs of your statements, on the credit application itself, or buried in the credit card junk mail these companies send to you on a regular basis. It isn't until you use the card that these hidden fees come into play.
Avoiding those hidden fees means reading the fine print and keeping an eye out for these common credit card tactics:
The late payment fee
Credit card companies mean business when the payment due date comes around. Banks and credit card companies can charge as much as $39 for a late fee, and might even penalize delinquent accounts by raising the interest rate to as high as 28%. To avoid late fees and higher interest rates, pay early or set up an automatic payment plan through your bank.
Consumers who prefer mailing their payments should allow for plenty of time. Even though you may have timed your payment to arrive on the actual due date, don't assume that the credit card company will process it that day. Although it's "on time" for credit reporting purposes, some card companies delay processing payments for day or so, entitling them to a late fee. Remember to keep an eye on those due dates, which can change monthly.
The cash advance fee
Using your credit card to charge a purchase is one thing; advancing cash off the card is like taking out a very expensive loan. Not only will the loan be charged at a higher rate of interest from the moment of the
withdrawal, you will also be charged a balance transfer fee. If you've advanced the funds from an ATM, expect to pay a transfer fee to both your credit card company and the bank that owned the ATM. If the funds were advanced using one of the checks so thoughtfully provided by the credit company, expect to pay handling fees that can run as high as $75 per transaction.
The over-your-limit fee
It's happened to all of us; we've miscalculated our spending for the day and went over our limit by a couple of bucks. As a courtesy to its clients, credit card companies will usually pay an over-the-limit charge and then assess the account $39 for going over the credit limit. If the charge exceeds their comfort level, they may reject it instead and still charge you $39.
The pay-it-by phone fee
Just in the past year, I've noticed that making payments by phone are no longer free when using a credit or debit card. Utility companies, medical facilities, insurance companies, and even credit card companies charge a $15-$35 "handling fee" when processing a card payment by phone. Some companies will charge even a higher fee if the payment was due that day. Mailing those payments early or setting up an automatic deduction payment plan is the way to avoid these hidden fees.
The penalty-for-not-using-your-card fee
If you don't use your cards except for a "once every few years" emergency, you may be subject to a small fee every 6 months to a year or so to keep the account active. These fees range from $15-$50 and can be avoided by using the card for a small purchase several times a year.
The "Gotcha! We're-invoking-the-universal-default-clause" fee
Hidden deep within the fine print of many credit card agreements is a universal default clause that's a real "gotcha!" for unwary consumers. This clause allows a company to raise your interest rates if your credit score is lowered for any reason, such as a late payment to another credit card company or if you've over extended yourself on other loans, including a home mortgage. With the universal default clause, a consumer can find his low rate interest cards being bumped up to double digit interest, even if he's never been late with a single payment. What's particularly unfair with this clause, is that the higher interest doesn't just apply to new purchases, but the entire balance including the stuff you charged when the rates were still down around 3.9%.
So how do you get around these fees? Setting up an automatic payment schedule with your bank is one way to guarantee that your payments will always be on time. Reading the fine print that comes with your statement or in
a separate mailing is another way of keeping yourself informed of changes to your creditor's policy.
With credit card interest rates on the rise, consumers have to be more vigilant than ever in managing their credit card debt. For consumers who are just not that pulled together, it's best to stop charging altogether and pay off the credit cards completely while the interest rates are still low.
Unfortunately as most of us are discovering, credit cards are full of hidden fees. According to the National Retail Federation (NRF), hidden credit card fees are costing Americans over $400 a year. These fees come on
top of all that interest charges as well, which lately have been slowly creeping upwards if you haven't been paying attention.
While it's against federal law for credit card companies to impose hidden fees, there is no law compelling the credit companies to explain surcharges in easy to understand terms, hence the terms "hidden fees." These fees are usually explained in teeny tiny print on the backs of your statements, on the credit application itself, or buried in the credit card junk mail these companies send to you on a regular basis. It isn't until you use the card that these hidden fees come into play.
Avoiding those hidden fees means reading the fine print and keeping an eye out for these common credit card tactics:
The late payment fee
Credit card companies mean business when the payment due date comes around. Banks and credit card companies can charge as much as $39 for a late fee, and might even penalize delinquent accounts by raising the interest rate to as high as 28%. To avoid late fees and higher interest rates, pay early or set up an automatic payment plan through your bank.
Consumers who prefer mailing their payments should allow for plenty of time. Even though you may have timed your payment to arrive on the actual due date, don't assume that the credit card company will process it that day. Although it's "on time" for credit reporting purposes, some card companies delay processing payments for day or so, entitling them to a late fee. Remember to keep an eye on those due dates, which can change monthly.
The cash advance fee
Using your credit card to charge a purchase is one thing; advancing cash off the card is like taking out a very expensive loan. Not only will the loan be charged at a higher rate of interest from the moment of the
withdrawal, you will also be charged a balance transfer fee. If you've advanced the funds from an ATM, expect to pay a transfer fee to both your credit card company and the bank that owned the ATM. If the funds were advanced using one of the checks so thoughtfully provided by the credit company, expect to pay handling fees that can run as high as $75 per transaction.
The over-your-limit fee
It's happened to all of us; we've miscalculated our spending for the day and went over our limit by a couple of bucks. As a courtesy to its clients, credit card companies will usually pay an over-the-limit charge and then assess the account $39 for going over the credit limit. If the charge exceeds their comfort level, they may reject it instead and still charge you $39.
The pay-it-by phone fee
Just in the past year, I've noticed that making payments by phone are no longer free when using a credit or debit card. Utility companies, medical facilities, insurance companies, and even credit card companies charge a $15-$35 "handling fee" when processing a card payment by phone. Some companies will charge even a higher fee if the payment was due that day. Mailing those payments early or setting up an automatic deduction payment plan is the way to avoid these hidden fees.
The penalty-for-not-using-your-card fee
If you don't use your cards except for a "once every few years" emergency, you may be subject to a small fee every 6 months to a year or so to keep the account active. These fees range from $15-$50 and can be avoided by using the card for a small purchase several times a year.
The "Gotcha! We're-invoking-the-universal-default-clause" fee
Hidden deep within the fine print of many credit card agreements is a universal default clause that's a real "gotcha!" for unwary consumers. This clause allows a company to raise your interest rates if your credit score is lowered for any reason, such as a late payment to another credit card company or if you've over extended yourself on other loans, including a home mortgage. With the universal default clause, a consumer can find his low rate interest cards being bumped up to double digit interest, even if he's never been late with a single payment. What's particularly unfair with this clause, is that the higher interest doesn't just apply to new purchases, but the entire balance including the stuff you charged when the rates were still down around 3.9%.
So how do you get around these fees? Setting up an automatic payment schedule with your bank is one way to guarantee that your payments will always be on time. Reading the fine print that comes with your statement or in
a separate mailing is another way of keeping yourself informed of changes to your creditor's policy.
With credit card interest rates on the rise, consumers have to be more vigilant than ever in managing their credit card debt. For consumers who are just not that pulled together, it's best to stop charging altogether and pay off the credit cards completely while the interest rates are still low.
How to Avoid ATM Fees: New Cheap Rules for the 21st Century
I recently wrote, Cheap Rules for the 21st Century, and Things I will not do to Save Money, where I listed my rules for being cheap as well as my list of things I would not do to save money. In addition to these rules,
I have a list of items I would never pay for. I am presenting this list in alphabetical order. I have already presented my ways to acquire Aprons without paying for them. Next on my list of things you should not pay for are ATM Fees.
ATM users have grown accustomed to the numerous fees they have to pay to access their own money. I do not feel this is something we need to get used to. Here are my tips for avoiding ATM Fees.
Carry Cash: People do not carry cash anymore because they have become convinced that if they are robbed that they can cancel their ATM cards and not lose anything. I say that if you are robbed, you want something you can give the robber so they do not accost you and take you to the debit machine to withdraw cash. You want to be near them for as little time as possible. Another reason people do not carry cash is because ATM cards are easy and convenient to use. That may be true, but carrying cash makes you more aware that you are spending money, and so you spend less.
Use your bank's ATM: If you bank locally, you need to use the ATM machines associated with your bank. Your bank will thank you by not charging ATM fees for your transaction.
Get cash back from the grocery and drug store. When I want cash from my non-local bank accounts, I combine my withdrawal with a trip to the grocery or drug store. Even when I do not need anything from the store, I purchase a tin of breath mints. Why breath mints? Because I am very likely to use them and it is still cheaper than paying bank fees.
Find supermarkets in your area with ATMs that do not charge fees or charge very low fees. Some supermarkets have ATM machines that do not charge the customer (at least for a certain group of cards). For those cards they do, charge a fee for, the charge is low, usually around $1.00. In my area, Publix stores have these ATMs.
When you do use the ATM machine, get enough cash for several days. There will just be some times when you need cash now, and the ATM that charges fees are your only choice. If you are going to pay an ATM fee, make it
worth your while. Take enough money for several days so you do not find yourself at the ATM again the next day.
I have a list of items I would never pay for. I am presenting this list in alphabetical order. I have already presented my ways to acquire Aprons without paying for them. Next on my list of things you should not pay for are ATM Fees.
ATM users have grown accustomed to the numerous fees they have to pay to access their own money. I do not feel this is something we need to get used to. Here are my tips for avoiding ATM Fees.
Carry Cash: People do not carry cash anymore because they have become convinced that if they are robbed that they can cancel their ATM cards and not lose anything. I say that if you are robbed, you want something you can give the robber so they do not accost you and take you to the debit machine to withdraw cash. You want to be near them for as little time as possible. Another reason people do not carry cash is because ATM cards are easy and convenient to use. That may be true, but carrying cash makes you more aware that you are spending money, and so you spend less.
Use your bank's ATM: If you bank locally, you need to use the ATM machines associated with your bank. Your bank will thank you by not charging ATM fees for your transaction.
Get cash back from the grocery and drug store. When I want cash from my non-local bank accounts, I combine my withdrawal with a trip to the grocery or drug store. Even when I do not need anything from the store, I purchase a tin of breath mints. Why breath mints? Because I am very likely to use them and it is still cheaper than paying bank fees.
Find supermarkets in your area with ATMs that do not charge fees or charge very low fees. Some supermarkets have ATM machines that do not charge the customer (at least for a certain group of cards). For those cards they do, charge a fee for, the charge is low, usually around $1.00. In my area, Publix stores have these ATMs.
When you do use the ATM machine, get enough cash for several days. There will just be some times when you need cash now, and the ATM that charges fees are your only choice. If you are going to pay an ATM fee, make it
worth your while. Take enough money for several days so you do not find yourself at the ATM again the next day.
Save Money on Personal and Business Bank Checks by Buying Them 50% Off Regular Prices
Many of us write bank checks to do our daily business. If you're like me, you prefer writing checks to carrying cash. For me, I like to be able to see where every penny went and bank checks help me to do that.
Between bank fees and the cost of bank checks, the cost adds up over time. Many bank customers are paying anywhere from $5.00-$15.00 in bank fees alone. Bank checks cost anywhere from $15.00-$20.00 per box, and
that's if you don't get the overpriced, fancy bank checks.
At our local bank I was paying $15.00 for one standard box of plain, simple bank checks. As a member of my local Sam's Club I received a mailing advertising Sam's Club bank check printing services. I was amazed at the price of $10.70 for two standard boxes of bank checks. This low price included free shipping and a choice of three rather standard bank check patterns. That is a cost of $5.35 per box, a savings of $9.65 on each box.
You do have to be a Sam's Club member to purchase bank checks at this price. If you are a business owner, a basic membership is $35.00 annually. If you are not a business owner, the cost is $40.00 annually.
You don't have to live near a Sam's Club to take advantage of their services. On-line sign-up is available as well as shopping at their website ( www.samsclub.com ). It's free to browse the site and learn about member benefits, but only members can make purchases.
The initial bank check order can be done over the phone or in person. You can order refills over the phone, in store, or by mail order. It does take one to two weeks to receive your bank checks, a bit slower than some other sources. But for the savings, it is well worth the wait.
The bank checks are the same quality as the bank checks your local bank's check printing service by mail provides. You may also order checkbook covers, address labels and other stationary. Personally, I think these products are not as good of a deal as the bank checks are.
Costco also offers a bank check printing service for it's members. I am less familiar with their services, since we don't have Costcos in our part of the country. On Costco's website ( www.costco.com
) standard personal bank checks are $9.15 for two standard boxes, including shipping. If you have a Costco executive membership, the price for two boxes of bank checks is $7.32 shipped.
Costco basic membership is $50.00 annually, Costco executive membership is $100.00 annually. Like Sam's Club, if you wish to shop at Costco and don't live near a store you can sign up and shop on-line.
A word about the more expensive "designer" bank checks. It's easy to be suckered in by the cute designs that are more attractive and more "you" than the standard, plain, cheaper designs. Maybe for some people it makes writing out their monthly bills more pleasurable, seeing the face of Mickey Mouse on their checks. Remember, that the people you are writing the bank check to don't care if the bank check is cute or not. What they care about is the bank check being for the correct amount, to the correct person and not bouncing. Don't fall for the hype of designer checks they are a huge waste of money.
Especially be wary of the ads for a "free" box of bank checks. This "free" box of bank checks is often not free. You are often required to buy a box of bank checks at a greatly inflated price. Even if you're not required to buy additional boxes of bank checks, take a close look at the rate for your replacement box of bank checks. You will often find that the prices for a fancy box of bank checks makes the standard bank cost of $10.00-$20.00 per box look cheap by comparison.
Many people think that their bank requires them to buy bank checks from directly through the bank. I know I believed this for years because I thought that was a condition of my free checking account. Most of the time, this is not a requirement. And if it is a requirement at your bank, you might consider looking for a bank that provides better service.
It always pays to shop around for the best bank. Some offer free checking accounts and others charge $9.00-$15.00 per month for a checking account. Some banks automatically sign you up for a high priced checking
account. I have found that they don't always volunteer their free checking account programs, you have to ask them about it. Also be sure you are earning a competitive interest rate on your savings accounts and certificates of deposit. At some banks even your checking accounts can earn interest. Shop around for your bank like you would shop around for any other product. Do your homework and make comparisons to find the best deal.
Remember, every penny saved adds up in the big picture. We don't often think of comparison shopping for buying bank checks or even choosing your bank. Through habit, or mistaken beliefs that we a required to purchase our bank checks through the bank, we end up overpaying greatly. Often we use the same overpriced bank for years, just out of habit. If you've never shopped around for a better bank, you owe it to yourself to do so. You may be very surprised at how much money you can save and even how much you can earn in interest.
Now, I'm not saying that you should join a shopping club just to buy bank checks. Personally, we find that Sam's Club more than pays for itself on general purchases. Not everything sold in warehouse stores is in huge, unusable quantities. Many regular, or slightly larger, quantities are available for grocery and household items.
The secret to effective warehouse shopping is to know what your regular Wal-Mart or local grocery store charges and compare it to the Sam's Club or Costco prices. You need to be able to do the math. Sometimes you are cheaper buying multiple smaller sizes rather than one large shopping club sized product. Not everything is cheaper at a warehouse store, some items are even more expensive. Sometimes you do save more by buying in bulk and sometimes you don't. Remember when buying food items in bulk, that you can properly store or freeze many items and use them as needed.
We find that when Sam's Club is cheaper than the local grocery, they are significantly cheaper. There are also many unusual, hard to find items that are available at warehouse stores as well as good values on regular food items. For example, we find that our local Sam's Club has better prices and better quality meat than most of our local grocers. But in turn, we find that for canned goods we save money buying smaller cans in the store brand of our local grocer.
Warehouse stores can also be very tempting places to overspend. This is pretty much an area where every family has to evaluate their shopping needs, budget and ability to discipline their shopping habits.
If you are a member of a warehouse shopping club, be sure to look into the other areas in which they offer savings and discounts. Sometimes these savings are significant and a good deal, other times they are not.
Remember it's always free to ask and check on their rates.
To name just a few examples of savings, discounts and perks from warehouse shopping clubs such as Sam's Club or Costco:
-Travel discounts on hotels, rental cars, airfare, cruises, resorts, etc...
-Discounts on medication, medical and dental care
-Many business services such as printing and mailing services.
So if you choose to join a warehouse shopping club, remember to take full advantage of all the ways they can save you money. Remember, you've already paid for it in your membership, so you might as well use it. Be sure to check out their great prices on bank checks.
Between bank fees and the cost of bank checks, the cost adds up over time. Many bank customers are paying anywhere from $5.00-$15.00 in bank fees alone. Bank checks cost anywhere from $15.00-$20.00 per box, and
that's if you don't get the overpriced, fancy bank checks.
At our local bank I was paying $15.00 for one standard box of plain, simple bank checks. As a member of my local Sam's Club I received a mailing advertising Sam's Club bank check printing services. I was amazed at the price of $10.70 for two standard boxes of bank checks. This low price included free shipping and a choice of three rather standard bank check patterns. That is a cost of $5.35 per box, a savings of $9.65 on each box.
You do have to be a Sam's Club member to purchase bank checks at this price. If you are a business owner, a basic membership is $35.00 annually. If you are not a business owner, the cost is $40.00 annually.
You don't have to live near a Sam's Club to take advantage of their services. On-line sign-up is available as well as shopping at their website ( www.samsclub.com ). It's free to browse the site and learn about member benefits, but only members can make purchases.
The initial bank check order can be done over the phone or in person. You can order refills over the phone, in store, or by mail order. It does take one to two weeks to receive your bank checks, a bit slower than some other sources. But for the savings, it is well worth the wait.
The bank checks are the same quality as the bank checks your local bank's check printing service by mail provides. You may also order checkbook covers, address labels and other stationary. Personally, I think these products are not as good of a deal as the bank checks are.
Costco also offers a bank check printing service for it's members. I am less familiar with their services, since we don't have Costcos in our part of the country. On Costco's website ( www.costco.com
) standard personal bank checks are $9.15 for two standard boxes, including shipping. If you have a Costco executive membership, the price for two boxes of bank checks is $7.32 shipped.
Costco basic membership is $50.00 annually, Costco executive membership is $100.00 annually. Like Sam's Club, if you wish to shop at Costco and don't live near a store you can sign up and shop on-line.
A word about the more expensive "designer" bank checks. It's easy to be suckered in by the cute designs that are more attractive and more "you" than the standard, plain, cheaper designs. Maybe for some people it makes writing out their monthly bills more pleasurable, seeing the face of Mickey Mouse on their checks. Remember, that the people you are writing the bank check to don't care if the bank check is cute or not. What they care about is the bank check being for the correct amount, to the correct person and not bouncing. Don't fall for the hype of designer checks they are a huge waste of money.
Especially be wary of the ads for a "free" box of bank checks. This "free" box of bank checks is often not free. You are often required to buy a box of bank checks at a greatly inflated price. Even if you're not required to buy additional boxes of bank checks, take a close look at the rate for your replacement box of bank checks. You will often find that the prices for a fancy box of bank checks makes the standard bank cost of $10.00-$20.00 per box look cheap by comparison.
Many people think that their bank requires them to buy bank checks from directly through the bank. I know I believed this for years because I thought that was a condition of my free checking account. Most of the time, this is not a requirement. And if it is a requirement at your bank, you might consider looking for a bank that provides better service.
It always pays to shop around for the best bank. Some offer free checking accounts and others charge $9.00-$15.00 per month for a checking account. Some banks automatically sign you up for a high priced checking
account. I have found that they don't always volunteer their free checking account programs, you have to ask them about it. Also be sure you are earning a competitive interest rate on your savings accounts and certificates of deposit. At some banks even your checking accounts can earn interest. Shop around for your bank like you would shop around for any other product. Do your homework and make comparisons to find the best deal.
Remember, every penny saved adds up in the big picture. We don't often think of comparison shopping for buying bank checks or even choosing your bank. Through habit, or mistaken beliefs that we a required to purchase our bank checks through the bank, we end up overpaying greatly. Often we use the same overpriced bank for years, just out of habit. If you've never shopped around for a better bank, you owe it to yourself to do so. You may be very surprised at how much money you can save and even how much you can earn in interest.
Now, I'm not saying that you should join a shopping club just to buy bank checks. Personally, we find that Sam's Club more than pays for itself on general purchases. Not everything sold in warehouse stores is in huge, unusable quantities. Many regular, or slightly larger, quantities are available for grocery and household items.
The secret to effective warehouse shopping is to know what your regular Wal-Mart or local grocery store charges and compare it to the Sam's Club or Costco prices. You need to be able to do the math. Sometimes you are cheaper buying multiple smaller sizes rather than one large shopping club sized product. Not everything is cheaper at a warehouse store, some items are even more expensive. Sometimes you do save more by buying in bulk and sometimes you don't. Remember when buying food items in bulk, that you can properly store or freeze many items and use them as needed.
We find that when Sam's Club is cheaper than the local grocery, they are significantly cheaper. There are also many unusual, hard to find items that are available at warehouse stores as well as good values on regular food items. For example, we find that our local Sam's Club has better prices and better quality meat than most of our local grocers. But in turn, we find that for canned goods we save money buying smaller cans in the store brand of our local grocer.
Warehouse stores can also be very tempting places to overspend. This is pretty much an area where every family has to evaluate their shopping needs, budget and ability to discipline their shopping habits.
If you are a member of a warehouse shopping club, be sure to look into the other areas in which they offer savings and discounts. Sometimes these savings are significant and a good deal, other times they are not.
Remember it's always free to ask and check on their rates.
To name just a few examples of savings, discounts and perks from warehouse shopping clubs such as Sam's Club or Costco:
-Travel discounts on hotels, rental cars, airfare, cruises, resorts, etc...
-Discounts on medication, medical and dental care
-Many business services such as printing and mailing services.
So if you choose to join a warehouse shopping club, remember to take full advantage of all the ways they can save you money. Remember, you've already paid for it in your membership, so you might as well use it. Be sure to check out their great prices on bank checks.
Frugal Tips: 50 Ways to Save Money
A dollar doesn’t seem like much money these days. But wouldn’t it be nice to have an extra 365 bucks in your pocket? If you were able to save just one dollar every day for a year, that’s exactly what
you would have. Here are 50 tips that will show you ways to save one dollar (or more).
1. Instead of buying a soda pop from the machine or convenience at your lunch break, stock up on a 12-pack from the grocery store.
2. Don’t do snack size munchies. Buy full-size packages of potato chips, pretzels, and cookies and distribute them into your own baggies.
3. Read your local newspaper online, rather than purchasing one at the newsstand. Like to physically flip the pages? Purchase a subscription and save.
4. Same thing with magazines. Subscriptions will save you a bundle. Or borrow for free from your local library.
5. Quit smoking! Not only will you save the money you would normally spend on cigarettes, your health care costs will also decrease.
6. Stop buying those lottery tickets. Have you actually won anything big, ever?
7. Purchase deliciously aromatic, fresh ground coffee at the grocery store and make yourself a cup to go in the morning. Drive right past Starbucks.
8. Brown bag your lunch once or twice a week.
9. Make sure your tires are properly inflated. You’ll get better gas mileage and save moola.
10. Use your bank’s ATM so that you don’t get hit with fees.
11. Pay bills online so you don’t have to buy stamps.
12. Call long distance using your cell phone during free night or weekend hours.
13. Pay bills on time to avoid late fees.
14. Wait a while after the premier and catch the movie at the $3 cinema. Skip the popcorn!
15. Alternately, rent a video instead of catching a flick at the theater.
16. Or borrow movies from the library or friends for free and make homemade snacks!
17. Make sure doors and windows in your home are properly sealed to keep cooled or heated air from escaping.
18. Clip and use grocery store coupons.
19. Check the local coupons that come in the mail for services and products such as car washes and pizza deliveries.
20. When your doctor writes you a prescription, ask that a lower-priced generic be allowed, if
available.
21. For long-term medication, consider mail-order prescriptions which are generally purchased in 3-month increments for about the same as a one or two month supply.
22. Cancel premium cable TV channels. (They play the same movies over and over anyway!)
23. Or, make note of which channels your family watches most. Consider cutting down to barebones basic cable, or cancelling the service altogether.
24. Have friends or family over for a nice dinner at home rather than eating out. Hint that next time you go to their place!
25. Eat one vegetarian meal each week.
26. Make popcorn to munch in front of the TV. Pop it up in a hot air popper, in a brown lunch bag in the microwave, or the old fashioned way, on the stove with a little oil (don’t forget to put a lid on the pan!). The kids will be fascinated.
27. Map your errands to save on gas.
28. Trek to run errands that are within walking distance. Great for saving gas and boosting your health!
29. Install fluorescent lights. Not only do they use less energy, they also last longer than traditional bulbs.
30. Lower the temperature on your hot water heater to a safe 110 to 120 degrees.
31. Dry a load of laundry on the clothesline.
32. Bake from scratch. Homemade is cheaper and tastes so much better than store bought.
33. Use less shampoo, dish soap, hand soap, etc. than you think you need. You can always add more and chances are you are using too much. Oh, and don’t bother “rinsing and repeating!”
34. Shop at dollar stores for everything from snacks to greeting cards to household items.
35. Be a good driver. Tickets mean fines and higher insurance, not to mention possible injuries!
36. Raise your insurance deductible and lower your premium.
37. Shop at thrift and consignment stores for clothing for the whole family. You’ll be amazed at your great finds! And if you can’t get past the idea that the items are used, consider all the other people
who have tried on that department store outfit before you bought it.
38. Change air filters every month. Your heater or air conditioner won’t have to work as hard to do the job.
39. Use cloth towels and napkins instead of paper ones.
40. Start a small garden growing something your family loves. Even apartment dwellers can have container gardens. Enjoy fresh produce for a fraction of the supermarket cost and take pleasure in a new hobby!
41. Just don’t have the time or energy to garden? Find a farmer’s market and support local growers while you save cash.
42. Rotate your tires and they’ll last longer.
43. Change your oil regularly and you’ll be rewarded with a long-lived engine.
44. Empty your trunk of any non-necessities and get better gas mileage.
45. Watch for free entertainment events put on by city agencies, churches, and schools. Take the whole family!
46. Have a wee one? Try using cloth diapers half of the time.
47. Stock up on great deals, but only buy what you’ll actually use. Nobody needs 57 cans of chicken noodle soup on hand.
48. Check out bakery outlet stores for great deals on breads, snacks, and more.
49. Don’t window shop. If you aren’t tempted, you won’t spend.
50. Vinegar and baking soda have hundreds of uses. Vinegar can be used for everything from fabric softener to soap scum remover to dishwasher additive. Baking soda will clean the microwave, freshen the fridge, even scour the sink.
Try a few, a bunch, or all of these tips and before you know it you’ll have a dent in your debt, a wad in your wallet, and dough in your dowry!
you would have. Here are 50 tips that will show you ways to save one dollar (or more).
1. Instead of buying a soda pop from the machine or convenience at your lunch break, stock up on a 12-pack from the grocery store.
2. Don’t do snack size munchies. Buy full-size packages of potato chips, pretzels, and cookies and distribute them into your own baggies.
3. Read your local newspaper online, rather than purchasing one at the newsstand. Like to physically flip the pages? Purchase a subscription and save.
4. Same thing with magazines. Subscriptions will save you a bundle. Or borrow for free from your local library.
5. Quit smoking! Not only will you save the money you would normally spend on cigarettes, your health care costs will also decrease.
6. Stop buying those lottery tickets. Have you actually won anything big, ever?
7. Purchase deliciously aromatic, fresh ground coffee at the grocery store and make yourself a cup to go in the morning. Drive right past Starbucks.
8. Brown bag your lunch once or twice a week.
9. Make sure your tires are properly inflated. You’ll get better gas mileage and save moola.
10. Use your bank’s ATM so that you don’t get hit with fees.
11. Pay bills online so you don’t have to buy stamps.
12. Call long distance using your cell phone during free night or weekend hours.
13. Pay bills on time to avoid late fees.
14. Wait a while after the premier and catch the movie at the $3 cinema. Skip the popcorn!
15. Alternately, rent a video instead of catching a flick at the theater.
16. Or borrow movies from the library or friends for free and make homemade snacks!
17. Make sure doors and windows in your home are properly sealed to keep cooled or heated air from escaping.
18. Clip and use grocery store coupons.
19. Check the local coupons that come in the mail for services and products such as car washes and pizza deliveries.
20. When your doctor writes you a prescription, ask that a lower-priced generic be allowed, if
available.
21. For long-term medication, consider mail-order prescriptions which are generally purchased in 3-month increments for about the same as a one or two month supply.
22. Cancel premium cable TV channels. (They play the same movies over and over anyway!)
23. Or, make note of which channels your family watches most. Consider cutting down to barebones basic cable, or cancelling the service altogether.
24. Have friends or family over for a nice dinner at home rather than eating out. Hint that next time you go to their place!
25. Eat one vegetarian meal each week.
26. Make popcorn to munch in front of the TV. Pop it up in a hot air popper, in a brown lunch bag in the microwave, or the old fashioned way, on the stove with a little oil (don’t forget to put a lid on the pan!). The kids will be fascinated.
27. Map your errands to save on gas.
28. Trek to run errands that are within walking distance. Great for saving gas and boosting your health!
29. Install fluorescent lights. Not only do they use less energy, they also last longer than traditional bulbs.
30. Lower the temperature on your hot water heater to a safe 110 to 120 degrees.
31. Dry a load of laundry on the clothesline.
32. Bake from scratch. Homemade is cheaper and tastes so much better than store bought.
33. Use less shampoo, dish soap, hand soap, etc. than you think you need. You can always add more and chances are you are using too much. Oh, and don’t bother “rinsing and repeating!”
34. Shop at dollar stores for everything from snacks to greeting cards to household items.
35. Be a good driver. Tickets mean fines and higher insurance, not to mention possible injuries!
36. Raise your insurance deductible and lower your premium.
37. Shop at thrift and consignment stores for clothing for the whole family. You’ll be amazed at your great finds! And if you can’t get past the idea that the items are used, consider all the other people
who have tried on that department store outfit before you bought it.
38. Change air filters every month. Your heater or air conditioner won’t have to work as hard to do the job.
39. Use cloth towels and napkins instead of paper ones.
40. Start a small garden growing something your family loves. Even apartment dwellers can have container gardens. Enjoy fresh produce for a fraction of the supermarket cost and take pleasure in a new hobby!
41. Just don’t have the time or energy to garden? Find a farmer’s market and support local growers while you save cash.
42. Rotate your tires and they’ll last longer.
43. Change your oil regularly and you’ll be rewarded with a long-lived engine.
44. Empty your trunk of any non-necessities and get better gas mileage.
45. Watch for free entertainment events put on by city agencies, churches, and schools. Take the whole family!
46. Have a wee one? Try using cloth diapers half of the time.
47. Stock up on great deals, but only buy what you’ll actually use. Nobody needs 57 cans of chicken noodle soup on hand.
48. Check out bakery outlet stores for great deals on breads, snacks, and more.
49. Don’t window shop. If you aren’t tempted, you won’t spend.
50. Vinegar and baking soda have hundreds of uses. Vinegar can be used for everything from fabric softener to soap scum remover to dishwasher additive. Baking soda will clean the microwave, freshen the fridge, even scour the sink.
Try a few, a bunch, or all of these tips and before you know it you’ll have a dent in your debt, a wad in your wallet, and dough in your dowry!
Save on Bank Fees
Do you pay your bank too much? The chances are that you do. Most banks charge extra fees for everything from processing your check to stop-payments and overdraft protection, not to mention overdraft charges themselves.
Since banks make money on your money, there's no reason to pay them for the privilege of you using it. Here's how to minimize those bank fees.
Don't write checks when you don't have to. Keep cash (and a tight fist) for as many purchases as you can, except for bills that would be less expensive to pay through the mail. This means you may have to work on your self-discipline so that you won't spend cash for things you hadn't intended to.
Many banks pay interest on checking as well as savings accounts, but they require that you keep a minimum balance of several hundred dollars. If you can possibly qualify, look for an interest bearing account. It sure won't make you rich, but it will at least help offset the other costs of banking.
Never buy checks through your banking establishment. They tack an extra charge to cover their expense (and then some) of ordering and handling. Do it yourself for free; there are several trustworthy companies that print checks for up to 75% less, and if you want to hop around, you can take advantage of "first time" deals for quite some time before running out of companies! You don't have to do that to save substantially over what your bank is charging, though.
As a general rule, smaller banks have lower (and fewer) fees. Check out any banks in your area that are owned locally. Be aware that they usually pay lower interest rates for savings, too. There's no law that says you have to have a savings account at the same bank where you have a checking account. Savings and loan associations are on the lower end when it comes to fees and charges, too.
Bank savings accounts are poor investment places. Almost anything will give you better interest rates. They are convenient because it's fast and easy to deposit and withdraw money from most accounts, unless you have
a few thousand dollars they want to keep. Higher interest accounts usually take more time to withdraw money from, as well as requiring higher balances.
If you're a senior citizen, make sure you get all you're entitled to. Ask about senior discounts like checking accounts with no fees.
Bank by phone or internet whenever you can, instead of going to the bank - and save gas, wear and tear on your vehicle as well as time. Have your check electronically deposited if possible. You can keep an eye on your account online for most banks and keep your checkbook balance up to date, which can minimize the chances of overdraw checks or other mistakes.
Credit Unions usually have lower overall rates and higher interest on savings, so if you qualify for one, join up.
Shop for these services the same way you'd shop for anything else - take your time, comparison shop and read the fine print. Ask questions and expect satisfactory answers. If you don't get them, ask again, or go to the next bank. You have a right to make the decision. It's your money, remember?
Since banks make money on your money, there's no reason to pay them for the privilege of you using it. Here's how to minimize those bank fees.
Don't write checks when you don't have to. Keep cash (and a tight fist) for as many purchases as you can, except for bills that would be less expensive to pay through the mail. This means you may have to work on your self-discipline so that you won't spend cash for things you hadn't intended to.
Many banks pay interest on checking as well as savings accounts, but they require that you keep a minimum balance of several hundred dollars. If you can possibly qualify, look for an interest bearing account. It sure won't make you rich, but it will at least help offset the other costs of banking.
Never buy checks through your banking establishment. They tack an extra charge to cover their expense (and then some) of ordering and handling. Do it yourself for free; there are several trustworthy companies that print checks for up to 75% less, and if you want to hop around, you can take advantage of "first time" deals for quite some time before running out of companies! You don't have to do that to save substantially over what your bank is charging, though.
As a general rule, smaller banks have lower (and fewer) fees. Check out any banks in your area that are owned locally. Be aware that they usually pay lower interest rates for savings, too. There's no law that says you have to have a savings account at the same bank where you have a checking account. Savings and loan associations are on the lower end when it comes to fees and charges, too.
Bank savings accounts are poor investment places. Almost anything will give you better interest rates. They are convenient because it's fast and easy to deposit and withdraw money from most accounts, unless you have
a few thousand dollars they want to keep. Higher interest accounts usually take more time to withdraw money from, as well as requiring higher balances.
If you're a senior citizen, make sure you get all you're entitled to. Ask about senior discounts like checking accounts with no fees.
Bank by phone or internet whenever you can, instead of going to the bank - and save gas, wear and tear on your vehicle as well as time. Have your check electronically deposited if possible. You can keep an eye on your account online for most banks and keep your checkbook balance up to date, which can minimize the chances of overdraw checks or other mistakes.
Credit Unions usually have lower overall rates and higher interest on savings, so if you qualify for one, join up.
Shop for these services the same way you'd shop for anything else - take your time, comparison shop and read the fine print. Ask questions and expect satisfactory answers. If you don't get them, ask again, or go to the next bank. You have a right to make the decision. It's your money, remember?
How to Control Charges to Your Bank Account
A bank account is a safe, efficient, and convenient way to handle your money. But there are various types of charges associated with some accounts. When you understand the charges and what causes them, you can determine
how to avoid or control the charges and thereby save a considerable amount of money over time.
Evaluate Your Options Before Opening an Account
Banks generally offer different types of checking accounts, some of which are adapted to accommodate the needs of different groups of customers. So the first step in controlling bank charges is to evaluate your own situation. You should think about what you need from your checking account, investigate and compare the different types of checking accounts offered, and choose the option that is most advantageous for you. By selecting the right account, you can avoid some of the charges.
Many banks offer free checking accounts; that is, accounts with no maintenance fee and no minimum balance requirement. Some banks may offer free checking accounts for certain groups of customers, such as students or people 50 or 55 years of age or older. In some cases the bank may offer a checking account without charges as long as the customer has other products with the bank, such as a credit card, savings account, certificate of deposit, mortgage loan, or other type of loan.
You can look for information on the banks' websites, where they show a comparison of the different types of checking accounts, the requirements for opening them, and the charges associated with each type of account. You can also visit the bank and talk to an account executive to inquire about the possibilities available and ask for guidance.
Types of Charges
Some of the most common charges to a checking account are the monthly service charge, the charge for printing checks, charges based on the number of checks drawn, charges for use of an automatic teller machine (ATM), charges for overdrafts, charges for checks returned due to insufficient funds, and charges for placing stop-payment orders.
Monthly Service Charge or Maintenance Charge
This is a monthly fee the bank charges for having the account. In some types of accounts this charge depends on maintaining a minimum balance. As long as the balance in your account during the month stays above the
minimum amount, there is no fee.
In some cases the maintenance charge is based on the balance in your checking account or the total of the balance in your checking account plus the balances in other bank products, such as savings accounts, certificates of deposit, money market instruments, and individual retirement accounts (IRAs).
It is important to understand the conditions that apply in the case of a checking account with no maintenance charges. There could be a limit on the number of checks you can write each month, or you may have to maintain a minimum balance in the account, as mentioned above. Another requirement for a free or low-cost checking account could be that you must have direct deposit of your paycheck. In any case, direct deposit can be convenient once you have an account set up. It is an automatic and safe way to receive your pay, without having to go to the bank to deposit or cash a paycheck.
Based on the foregoing, there are generally two ways to avoid the monthly service or maintenance charge: choose a type of account that doesn't charge a monthly fee, or maintain a sufficient balance in your account so you are not charged the fee.
Charge for Printing Checks
When you open an account and ask for checks, the bank will charge your account a fee for printing the checks. Normally there is a minimum quantity of checks that you can request. The bank could offer different types of checks, for example with different designs, with or without a stub that remains in your checkbook for noting the check data, and checks with carbon copy. Checks with special designs or the other options generally cost more than standard checks.
You could avoid this charge if you are going to pay all your bills on line, withdraw the cash you need from the ATM, and really don't need to write checks. But you should consider your own circumstances and the convenience of having the option to write a check if you need to.
Charge for the Checks You Write
In addition to the monthly service or maintenance fee, or in some cases instead of this fee, the bank could charge your account for each check you write, or could charge you for each check over a certain number of checks per month.
You can avoid or minimize this charge by paying your bills on line instead of writing checks and sending them by mail. This assumes that the account you open allows you to manage your account online with a bill paying
facility.
Charge for Using an ATM
Normally the bank allows its customers to use the bank's own ATMs without a charge. But there could be a charge when you use other banks' ATMs. In that case, the other bank could also charge a fee for using their ATMs. Although these charges do not represent a significant amount for each transaction, they can add up over time when you use ATMs frequently, so it is important to control them.
The best way to avoid this charge is to use only your own bank's ATMs. This is not always possible when you are somewhere else and need to withdraw cash from an ATM that does not belong to your bank. ATMs exist in order to provide this convenience. But with a little planning, you can take out the cash you will need from your own bank's ATMs, or inside the bank itself, and thereby avoid this charge. If you are traveling, you should weigh the risk of carrying cash against the charge you incur when you take cash out of ATMs as you need it.
Charges for Insufficient Funds
When you write a check and there are not sufficient funds in your account to cover the check, the bank will not honor the check and will also charge you a fee. This fee can be quite high and is charged for each insufficient funds check you write.
The way to avoid this charge is to keep your account reconciled and up-to-date with all debits and credits, including deposits and other credits, all the checks you have written, and all the bank charges. When you manage your account online, you can see the accounting balance and the available balance at all times. If you manage your account using the register in your checkbook, it is important to note all entries. For example, you should note the date, payee, and amount of the check in your checkbook register as soon as you write the check itself, note your deposits as soon as you make them, and you should note the bank charges and any other credits when you receive your statement and reconcile your account balance. This way you can be confident that the amount recorded in your checkbook register is up-to-date so you will know the balance you have available and can avoid writing checks with insufficient funds.
Another possibility, for the times when you could potentially write a check without sufficient funds in your account, is to contract overdraft protection, which is in effect a line of credit with the bank that is
activated when you write a check for more than the balance in your account. Normally, interest is charged, and possibly a fee or commission for the overdraft protection, so it is important to understand the conditions before contracting it. But in any event, the costs involved with an overdraft line of credit could be lower than the charges for insufficient funds checks, and overdraft protection can protect you from the adverse consequences in your payment history and therefore in your credit for checks that are returned due to insufficient funds.
Charge for Rejected Deposits
When you deposit a check in your account and the check is rejected by the bank on which it was drawn, your bank could charge you a fee for the rejected deposit.
When you are receiving payment from someone you don't know, or when you have doubts about a check, it is preferable to ask for a bank draft or certified check, not only to avoid a charge for a rejected deposit, but also to ensure that you receive your payment.
Charge for Stop Payment Orders
When you write a check and send it, or hand it over to the payee, and subsequently find that you want to stop the payment, due to breach or non-fulfillment on the part of the payee of the conditions under which you issue the check, or when you lose a check and want to ensure that no one cashes it, you can place a stop order on the check. The bank generally charges a fee for this service.
By taking care of your checkbook, always keeping it in a safe place, and noting all the checks you write, you can avoid the need to request a stop payment order for a lost check. It may be more difficult to avoid the need to issue a stop payment order for breach or non-fulfillment on the part of the payee, but in this case it is better to incur the cost of issuing the stop payment order and not lose the amount of the check.
Charge for Telephone Inquiries
The bank may charge you when you call to inquire about your balance or to confirm that a deposit or check has been processed. You can avoid this charge by using the online banking option, where you can see your balance and the up-to-date activity in your account.
Checking Accounts that Pay Interest
There are checking accounts that pay interest on the balance maintained in the account. The interest you earn could offset some or all of the charges to your account, and could even generate additional income. It is
important to consider all the conditions as a whole in order to determine whether an account that pays interest is to your advantage, taking into account any special requirements this type of account may involve. For example, for a checking account that pays interest, it may be necessary to maintain a minimum balance in your account. If the charges for dropping below the minimum balance are higher than the interest you could earn, considering the average balance you can maintain in your account, this may not always be the best option.
how to avoid or control the charges and thereby save a considerable amount of money over time.
Evaluate Your Options Before Opening an Account
Banks generally offer different types of checking accounts, some of which are adapted to accommodate the needs of different groups of customers. So the first step in controlling bank charges is to evaluate your own situation. You should think about what you need from your checking account, investigate and compare the different types of checking accounts offered, and choose the option that is most advantageous for you. By selecting the right account, you can avoid some of the charges.
Many banks offer free checking accounts; that is, accounts with no maintenance fee and no minimum balance requirement. Some banks may offer free checking accounts for certain groups of customers, such as students or people 50 or 55 years of age or older. In some cases the bank may offer a checking account without charges as long as the customer has other products with the bank, such as a credit card, savings account, certificate of deposit, mortgage loan, or other type of loan.
You can look for information on the banks' websites, where they show a comparison of the different types of checking accounts, the requirements for opening them, and the charges associated with each type of account. You can also visit the bank and talk to an account executive to inquire about the possibilities available and ask for guidance.
Types of Charges
Some of the most common charges to a checking account are the monthly service charge, the charge for printing checks, charges based on the number of checks drawn, charges for use of an automatic teller machine (ATM), charges for overdrafts, charges for checks returned due to insufficient funds, and charges for placing stop-payment orders.
Monthly Service Charge or Maintenance Charge
This is a monthly fee the bank charges for having the account. In some types of accounts this charge depends on maintaining a minimum balance. As long as the balance in your account during the month stays above the
minimum amount, there is no fee.
In some cases the maintenance charge is based on the balance in your checking account or the total of the balance in your checking account plus the balances in other bank products, such as savings accounts, certificates of deposit, money market instruments, and individual retirement accounts (IRAs).
It is important to understand the conditions that apply in the case of a checking account with no maintenance charges. There could be a limit on the number of checks you can write each month, or you may have to maintain a minimum balance in the account, as mentioned above. Another requirement for a free or low-cost checking account could be that you must have direct deposit of your paycheck. In any case, direct deposit can be convenient once you have an account set up. It is an automatic and safe way to receive your pay, without having to go to the bank to deposit or cash a paycheck.
Based on the foregoing, there are generally two ways to avoid the monthly service or maintenance charge: choose a type of account that doesn't charge a monthly fee, or maintain a sufficient balance in your account so you are not charged the fee.
Charge for Printing Checks
When you open an account and ask for checks, the bank will charge your account a fee for printing the checks. Normally there is a minimum quantity of checks that you can request. The bank could offer different types of checks, for example with different designs, with or without a stub that remains in your checkbook for noting the check data, and checks with carbon copy. Checks with special designs or the other options generally cost more than standard checks.
You could avoid this charge if you are going to pay all your bills on line, withdraw the cash you need from the ATM, and really don't need to write checks. But you should consider your own circumstances and the convenience of having the option to write a check if you need to.
Charge for the Checks You Write
In addition to the monthly service or maintenance fee, or in some cases instead of this fee, the bank could charge your account for each check you write, or could charge you for each check over a certain number of checks per month.
You can avoid or minimize this charge by paying your bills on line instead of writing checks and sending them by mail. This assumes that the account you open allows you to manage your account online with a bill paying
facility.
Charge for Using an ATM
Normally the bank allows its customers to use the bank's own ATMs without a charge. But there could be a charge when you use other banks' ATMs. In that case, the other bank could also charge a fee for using their ATMs. Although these charges do not represent a significant amount for each transaction, they can add up over time when you use ATMs frequently, so it is important to control them.
The best way to avoid this charge is to use only your own bank's ATMs. This is not always possible when you are somewhere else and need to withdraw cash from an ATM that does not belong to your bank. ATMs exist in order to provide this convenience. But with a little planning, you can take out the cash you will need from your own bank's ATMs, or inside the bank itself, and thereby avoid this charge. If you are traveling, you should weigh the risk of carrying cash against the charge you incur when you take cash out of ATMs as you need it.
Charges for Insufficient Funds
When you write a check and there are not sufficient funds in your account to cover the check, the bank will not honor the check and will also charge you a fee. This fee can be quite high and is charged for each insufficient funds check you write.
The way to avoid this charge is to keep your account reconciled and up-to-date with all debits and credits, including deposits and other credits, all the checks you have written, and all the bank charges. When you manage your account online, you can see the accounting balance and the available balance at all times. If you manage your account using the register in your checkbook, it is important to note all entries. For example, you should note the date, payee, and amount of the check in your checkbook register as soon as you write the check itself, note your deposits as soon as you make them, and you should note the bank charges and any other credits when you receive your statement and reconcile your account balance. This way you can be confident that the amount recorded in your checkbook register is up-to-date so you will know the balance you have available and can avoid writing checks with insufficient funds.
Another possibility, for the times when you could potentially write a check without sufficient funds in your account, is to contract overdraft protection, which is in effect a line of credit with the bank that is
activated when you write a check for more than the balance in your account. Normally, interest is charged, and possibly a fee or commission for the overdraft protection, so it is important to understand the conditions before contracting it. But in any event, the costs involved with an overdraft line of credit could be lower than the charges for insufficient funds checks, and overdraft protection can protect you from the adverse consequences in your payment history and therefore in your credit for checks that are returned due to insufficient funds.
Charge for Rejected Deposits
When you deposit a check in your account and the check is rejected by the bank on which it was drawn, your bank could charge you a fee for the rejected deposit.
When you are receiving payment from someone you don't know, or when you have doubts about a check, it is preferable to ask for a bank draft or certified check, not only to avoid a charge for a rejected deposit, but also to ensure that you receive your payment.
Charge for Stop Payment Orders
When you write a check and send it, or hand it over to the payee, and subsequently find that you want to stop the payment, due to breach or non-fulfillment on the part of the payee of the conditions under which you issue the check, or when you lose a check and want to ensure that no one cashes it, you can place a stop order on the check. The bank generally charges a fee for this service.
By taking care of your checkbook, always keeping it in a safe place, and noting all the checks you write, you can avoid the need to request a stop payment order for a lost check. It may be more difficult to avoid the need to issue a stop payment order for breach or non-fulfillment on the part of the payee, but in this case it is better to incur the cost of issuing the stop payment order and not lose the amount of the check.
Charge for Telephone Inquiries
The bank may charge you when you call to inquire about your balance or to confirm that a deposit or check has been processed. You can avoid this charge by using the online banking option, where you can see your balance and the up-to-date activity in your account.
Checking Accounts that Pay Interest
There are checking accounts that pay interest on the balance maintained in the account. The interest you earn could offset some or all of the charges to your account, and could even generate additional income. It is
important to consider all the conditions as a whole in order to determine whether an account that pays interest is to your advantage, taking into account any special requirements this type of account may involve. For example, for a checking account that pays interest, it may be necessary to maintain a minimum balance in your account. If the charges for dropping below the minimum balance are higher than the interest you could earn, considering the average balance you can maintain in your account, this may not always be the best option.
Opening an American Bank Account
Opening an American bank account is not difficult. It is more time consuming than anything. To properly open an account, there are a number of items you need to have available. Each financial institution (bank) has its
own requirements for opening an account. Call ahead to find out exactly what each needs. Overall, there are some basic items you need. You need to have the following items available upon request. In all cases, valid means current. The bank may ask for any of the following when opening a bank account:
· A valid official photograph identification. Usually, this is a driver's license. This way the bank representative can be certain you are who you say you are. It needs to contain your name, address, and have an expiration date on it.
· Valid Driver's License. Once again, this is from the country you are coming from. It must contain your photograph, address, and date of birth. It must also be current as of the date you plan on opening your bank account.
· A current passport from the country you are coming from. This should contain a photograph, also. The passport cannot be expired at the time you are opening your new bank account. Some banks will accept your passport and not require another form of photo identification. Once again, ask first.
· A valid credit card. A valid credit card is any legitimate credit card with your name. It must have an expiration date that is current at the time of your opening the new bank account. Major credit cards accepted worldwide include VISA, MasterCard, and American Express. Check with your potential bank to be certain they accept yours. Some banks accept American Express, some do not. All will accept VISA and MasterCard.
· A valid bankcard. A bankcard is also known as a cash card or debit card. It would be from the bank of your originating country. It must have your name on it, along with an expiration date. It must be current as of the date of your opening the new bank account.
· Date of birth. Your date of birth will be needed to further prove you are who you claim to be. Having your Birth Certificate available can prove this.
· Your mother's maiden name. This is needed, usually, for security purposes. This information will be put onto your account. Only the bank employees and you will know this information, hopefully. When you
have a question on your account, this is one of the 'secret questions' the bank will ask. They use this to ascertain that you are really you.
· Utility bills, phone bills, other bills. These bills are used sometimes to proof your address. You need to have a current address to open an American bank account. This applies to all banks. It is recommended to take at least one utility or phone bill with you, just in case.
· Social Security card. If your country has a social security card, bring it. This is another form of identification used as proof of who you claim to be. If you do not have one, ask the bank what other forms of identification are acceptable.
Prior to visiting your preferred bank, place all the needed information in an envelope. This makes it available easily and conveniently.
In short, as mentioned above, American banks differ in their requirements for opening an account. Some only require a passport. Others require credit card, passport, and a fee. Ask for literature, or speak to a bank representative to have your questions answered.
own requirements for opening an account. Call ahead to find out exactly what each needs. Overall, there are some basic items you need. You need to have the following items available upon request. In all cases, valid means current. The bank may ask for any of the following when opening a bank account:
· A valid official photograph identification. Usually, this is a driver's license. This way the bank representative can be certain you are who you say you are. It needs to contain your name, address, and have an expiration date on it.
· Valid Driver's License. Once again, this is from the country you are coming from. It must contain your photograph, address, and date of birth. It must also be current as of the date you plan on opening your bank account.
· A current passport from the country you are coming from. This should contain a photograph, also. The passport cannot be expired at the time you are opening your new bank account. Some banks will accept your passport and not require another form of photo identification. Once again, ask first.
· A valid credit card. A valid credit card is any legitimate credit card with your name. It must have an expiration date that is current at the time of your opening the new bank account. Major credit cards accepted worldwide include VISA, MasterCard, and American Express. Check with your potential bank to be certain they accept yours. Some banks accept American Express, some do not. All will accept VISA and MasterCard.
· A valid bankcard. A bankcard is also known as a cash card or debit card. It would be from the bank of your originating country. It must have your name on it, along with an expiration date. It must be current as of the date of your opening the new bank account.
· Date of birth. Your date of birth will be needed to further prove you are who you claim to be. Having your Birth Certificate available can prove this.
· Your mother's maiden name. This is needed, usually, for security purposes. This information will be put onto your account. Only the bank employees and you will know this information, hopefully. When you
have a question on your account, this is one of the 'secret questions' the bank will ask. They use this to ascertain that you are really you.
· Utility bills, phone bills, other bills. These bills are used sometimes to proof your address. You need to have a current address to open an American bank account. This applies to all banks. It is recommended to take at least one utility or phone bill with you, just in case.
· Social Security card. If your country has a social security card, bring it. This is another form of identification used as proof of who you claim to be. If you do not have one, ask the bank what other forms of identification are acceptable.
Prior to visiting your preferred bank, place all the needed information in an envelope. This makes it available easily and conveniently.
In short, as mentioned above, American banks differ in their requirements for opening an account. Some only require a passport. Others require credit card, passport, and a fee. Ask for literature, or speak to a bank representative to have your questions answered.
Sunday, 19 December 2010
The TARP Bailout: What Are Its Benefits?
In October of 2008, President Bush signed a piece of legislature designed to address the nation's mortgage crisis. The Troubled Asset Relief Program, commonly known as the TARP bailout, enabled the American government to buy assets and equity from financial institutions. It was theorized that the American government would strengthen its financial sector with what was expected to be an investment of $356 billion. As of October 2010, the American government has regained almost $320 billion of its investment, with an estimated outstanding cost of around $30 billion. Companies like GMC, American Express, AIG, Bank of America, and Citigroup have repaid the US Treasury's stake in their organization.
There are a variety of types of assets that the United States government can purchase through the TARP bailout. These include a wide variety of residential and commercial mortgages. One of the only stipulations of the legislation is that the purchase of the "troubled asset" must promote financial market stability. As such, banks and other financial institutions can unload certain assets to the government and improve their liquidity, stabilize their balance sheets, and prevent further drastic financial losses.
Companies that participated in the program were relatively autonomous and unaccountable for their plans for the money received from the United States government. As such, a number of potential fraud cases came to light when it was discovered that some companies were misusing or misappropriating the funds. As of January 2010, there were 86 criminal and civil investigations into companies and individuals responsible for the money in question.
As of October 2010, new information has been made available that shows the TARP bailout has actually gained $25 billion in profits. Two-thirds of the total funds borrowed to banks and other organizations have been fully paid back. While the American public may have been against the program when it was first introduced, it appears to have been financially wise in the long run. This 8 percent return on investment is much greater than the 3 percent return on treasury bonds during the same period. The taxpayers' money will come back with gains in a comparatively short period of time.
Those against the TARP bailout program claim that the American government may have avoided financial collapse but has not fixed any of the underlying problems that brought us to that near-disaster in the first place. The foundations of the financial crisis still have not been addressed so that we can be sure not to make the same mistakes again. However, an 8 percent return in two years is an impressive figure and one that deserves discussion.
Many politicians that supported the TARP bailout were highly criticized and even suffered loss of jobs and reputation. Many taxpayers blamed big banks and big business for the near-collapse in the first place, even though politicians took most of the heat. In the end it doesn't help to say "I told you so," but supporters of the program must feel justified in at least a little satisfaction.
Curious about potential TARP bailout benefits? For a comprehensive review of this complex matter, read on at: http://www.internettollfree.com.
Article Source: http://EzineArticles.com/?expert=Anna_Woodward
There are a variety of types of assets that the United States government can purchase through the TARP bailout. These include a wide variety of residential and commercial mortgages. One of the only stipulations of the legislation is that the purchase of the "troubled asset" must promote financial market stability. As such, banks and other financial institutions can unload certain assets to the government and improve their liquidity, stabilize their balance sheets, and prevent further drastic financial losses.
Companies that participated in the program were relatively autonomous and unaccountable for their plans for the money received from the United States government. As such, a number of potential fraud cases came to light when it was discovered that some companies were misusing or misappropriating the funds. As of January 2010, there were 86 criminal and civil investigations into companies and individuals responsible for the money in question.
As of October 2010, new information has been made available that shows the TARP bailout has actually gained $25 billion in profits. Two-thirds of the total funds borrowed to banks and other organizations have been fully paid back. While the American public may have been against the program when it was first introduced, it appears to have been financially wise in the long run. This 8 percent return on investment is much greater than the 3 percent return on treasury bonds during the same period. The taxpayers' money will come back with gains in a comparatively short period of time.
Those against the TARP bailout program claim that the American government may have avoided financial collapse but has not fixed any of the underlying problems that brought us to that near-disaster in the first place. The foundations of the financial crisis still have not been addressed so that we can be sure not to make the same mistakes again. However, an 8 percent return in two years is an impressive figure and one that deserves discussion.
Many politicians that supported the TARP bailout were highly criticized and even suffered loss of jobs and reputation. Many taxpayers blamed big banks and big business for the near-collapse in the first place, even though politicians took most of the heat. In the end it doesn't help to say "I told you so," but supporters of the program must feel justified in at least a little satisfaction.
Curious about potential TARP bailout benefits? For a comprehensive review of this complex matter, read on at: http://www.internettollfree.com.
Article Source: http://EzineArticles.com/?expert=Anna_Woodward
The Benefits You Can Expect From The Open Market Option
Although may people will enjoy a relatively good life during their employment days, problems might start cropping up once you are retired. With pension shortfalls in many countries in Europe, there is a need for people to pursue other options to ensure that they obtain a respectable annuity rate. This is why the open market option is essential.
With the open market option, a person approaching retirement has the option to shop around for different options to convert the pension amount into an annuity. This allows one to gain more from the pension rather than depend on the default amount offered by their pension provider. So the main importance of this option is to determine whether a person gets good value pension or not.
The option was introduced in the UK with the finance act 1978. As a pension holder, you are supposed to use before you get any benefits from your regular provider. This applies both for regular and lump sum income.
With different insurance companies offering different annuity rates as they compete with each other, one can choose any offer that suits him. Normally using the open market option, people have been able to increase the amounts received with up to twenty five percent or more than what their ordinary pension provider offers.
Another advantage with this option is that you are not obligated to take a particular annuity type. In most cases, people opt for fixed annuity or conventional annuity which provides a consistent income all through their retirement. With the open market option, one can also opt for annuities with an investment risk. Such annuities boost a persons chance of receiving a higher income. However, due to the unpredictability of investments, the annuities might not go so well. This can leave a person with lesser income than the targeted amount.
One also has access to annuities linked to the medical circumstances one is under. These impaired or enhanced life annuities are normally designed to pay a higher rate to someone who might not live as long as the retirees with perfect health. This means that the retiree has certain conditions such as heart conditions, diabetes and certain types of cancer.
So, how should one go about it? Although most people believe that sticking with the company that was in charge of their pension during employment is the best option, this is not always the case. To get a better rate, you have to carry out some kind of research. This should start with your current provider. You should then use the information to gauge what others are offering. Remember, there are different factors to consider with each offer including the percentage increase for impaired or enhanced annuity.
Although the open market option presents many advantages to the consumer, most people ignore it. Pension providers might also discourage you from taking this route. However, you should know it is your legal right, so you should explore it before taking the rate offered. Remember, once you have bought the annuity, there is no going back. You cannot change the provider or type of annuity so choose wisely.
Retirement Solutions provide independent advice on the open market option to find you the best annuity rates. We can also give advice on the best annuities.
Article Source: http://EzineArticles.com/?expert=Wilhelmina_Thomas
With the open market option, a person approaching retirement has the option to shop around for different options to convert the pension amount into an annuity. This allows one to gain more from the pension rather than depend on the default amount offered by their pension provider. So the main importance of this option is to determine whether a person gets good value pension or not.
The option was introduced in the UK with the finance act 1978. As a pension holder, you are supposed to use before you get any benefits from your regular provider. This applies both for regular and lump sum income.
With different insurance companies offering different annuity rates as they compete with each other, one can choose any offer that suits him. Normally using the open market option, people have been able to increase the amounts received with up to twenty five percent or more than what their ordinary pension provider offers.
Another advantage with this option is that you are not obligated to take a particular annuity type. In most cases, people opt for fixed annuity or conventional annuity which provides a consistent income all through their retirement. With the open market option, one can also opt for annuities with an investment risk. Such annuities boost a persons chance of receiving a higher income. However, due to the unpredictability of investments, the annuities might not go so well. This can leave a person with lesser income than the targeted amount.
One also has access to annuities linked to the medical circumstances one is under. These impaired or enhanced life annuities are normally designed to pay a higher rate to someone who might not live as long as the retirees with perfect health. This means that the retiree has certain conditions such as heart conditions, diabetes and certain types of cancer.
So, how should one go about it? Although most people believe that sticking with the company that was in charge of their pension during employment is the best option, this is not always the case. To get a better rate, you have to carry out some kind of research. This should start with your current provider. You should then use the information to gauge what others are offering. Remember, there are different factors to consider with each offer including the percentage increase for impaired or enhanced annuity.
Although the open market option presents many advantages to the consumer, most people ignore it. Pension providers might also discourage you from taking this route. However, you should know it is your legal right, so you should explore it before taking the rate offered. Remember, once you have bought the annuity, there is no going back. You cannot change the provider or type of annuity so choose wisely.
Retirement Solutions provide independent advice on the open market option to find you the best annuity rates. We can also give advice on the best annuities.
Article Source: http://EzineArticles.com/?expert=Wilhelmina_Thomas
7 Ways to Create Multiple Streams of Income
Make right choices: I want to share some of my experiences with you not to impress or woe you, but to impress upon you that dreams do still come true. Especially, if you are having the right dreams at the moment. When I was in the university, I often dream about self-reliance. As a result, I tried to blend my academic field towards independence. However, two years after my graduation, I studied Network Administration. This time, with a new dream in mind, which was to become a network administrator or an information analyst. I jumped into the job market, got one in an IT firm, only to dump it six months later when I realized that I had taken the wrong track. Thus the spirit of not having to rely on monthly pay hunted me more than ever. Then, I concluded that there is nothing wrong in obeying ones' thirst. So I proceeded to pursue my initial dreams about earning residual income through creating multiple income streams rather than relying on employer's salary that can hardly make one wealthy.
Take responsibility of your dreams: Becoming wealthy is every man's dream, but its achievement belong to only the determined few who could take up in their hands, the responsibility of realizing their dreams. Wealth for pure wealth sake, can be perceived as greed and that's one of the most negative repugnant factor to the chicken-hearted. Therefore, stand your ground and be sure to defend your dreams and realize them. You are where you are today as a result of your dreams. Your dreams are your choices, therefore, dream big, believe and achieve!
Find Your Passion: Be in tune with the opportunities you are passionate about. Your chances of making it in life becomes too high when you have the right dreams you are very passionate about. Ensure they are big enough. Remember the experience I shared with you at the beginning. I have so much passion about independence, owning my responsibilities, fulfilling my dreams and earning multiple passive income streams. Today I am out of the net of financial bankruptcy.
Focus: This is one major trap for many. Get stocked to your dream. So many have missed it when at the point their friend or parent help them locate a job. Remember jobs cannot make you wealthy. They can only provide you with daily bread. Robert Kiyosaki in his Rich dad poor dad said your employers cannot make you rich, they can only make you poor. And I maintain that residual income is not achieved through jobs.
Motivation: Define your motivators and work by them. A person's degree of success in anything he/she does, depends on the amount of continual effort and determination the person puts in. Whether you want to achieve overall career success or small business success, you must have a burning desire for whatever it is you want to achieve. And unless you're fuelled by passion, it's too easy to experience overwhelming lose of focus and just plainly give up.
Take the first simple step: It is certain that goals are nothing without action. Write your success goals down. Make them specific, measurable and realistic. Carry them about in your purse or wallet. Write down positive affirmations for your goals and glue them on the wall beside your bed, by your living room and at strategic spots where your eyes can always catch them. Some people no matter their level of intelligence and academic status find it very hard to take the first step. So by your positive affirmations the yoke can be broken.
Fulfilling your dreams and earning multiple streams of income: Having taken the six steps above, your next step should now be to develop the right achiever's motivated mindset. Unless you change your mind set with a burning desire to climb to the topmost of the financial freedom ladder. Nevertheless, when you are presented with an opportunity where many other people are having the same opportunity with you, do not pass it over, especially opportunities that appeal to your dreams. Ensure you read articles that can develop your mindset with ideas and experiences of what other people who succeeded did to excel. Uphold a resolved determination to achieve your dream in the shortest possible time bearing in mind that an unfilled dream is like an aborted baby. Then take responsibility for the choices you've made in life.
Article by Georgeline Ukwuoma
To learn more information on how to come out from financial hardship visit http://createyourownfinancialindependence.blogspot.com
Article Source: http://EzineArticles.com/?expert=Georgeline_Ukwuoma
Take responsibility of your dreams: Becoming wealthy is every man's dream, but its achievement belong to only the determined few who could take up in their hands, the responsibility of realizing their dreams. Wealth for pure wealth sake, can be perceived as greed and that's one of the most negative repugnant factor to the chicken-hearted. Therefore, stand your ground and be sure to defend your dreams and realize them. You are where you are today as a result of your dreams. Your dreams are your choices, therefore, dream big, believe and achieve!
Find Your Passion: Be in tune with the opportunities you are passionate about. Your chances of making it in life becomes too high when you have the right dreams you are very passionate about. Ensure they are big enough. Remember the experience I shared with you at the beginning. I have so much passion about independence, owning my responsibilities, fulfilling my dreams and earning multiple passive income streams. Today I am out of the net of financial bankruptcy.
Focus: This is one major trap for many. Get stocked to your dream. So many have missed it when at the point their friend or parent help them locate a job. Remember jobs cannot make you wealthy. They can only provide you with daily bread. Robert Kiyosaki in his Rich dad poor dad said your employers cannot make you rich, they can only make you poor. And I maintain that residual income is not achieved through jobs.
Motivation: Define your motivators and work by them. A person's degree of success in anything he/she does, depends on the amount of continual effort and determination the person puts in. Whether you want to achieve overall career success or small business success, you must have a burning desire for whatever it is you want to achieve. And unless you're fuelled by passion, it's too easy to experience overwhelming lose of focus and just plainly give up.
Take the first simple step: It is certain that goals are nothing without action. Write your success goals down. Make them specific, measurable and realistic. Carry them about in your purse or wallet. Write down positive affirmations for your goals and glue them on the wall beside your bed, by your living room and at strategic spots where your eyes can always catch them. Some people no matter their level of intelligence and academic status find it very hard to take the first step. So by your positive affirmations the yoke can be broken.
Fulfilling your dreams and earning multiple streams of income: Having taken the six steps above, your next step should now be to develop the right achiever's motivated mindset. Unless you change your mind set with a burning desire to climb to the topmost of the financial freedom ladder. Nevertheless, when you are presented with an opportunity where many other people are having the same opportunity with you, do not pass it over, especially opportunities that appeal to your dreams. Ensure you read articles that can develop your mindset with ideas and experiences of what other people who succeeded did to excel. Uphold a resolved determination to achieve your dream in the shortest possible time bearing in mind that an unfilled dream is like an aborted baby. Then take responsibility for the choices you've made in life.
Article by Georgeline Ukwuoma
To learn more information on how to come out from financial hardship visit http://createyourownfinancialindependence.blogspot.com
Article Source: http://EzineArticles.com/?expert=Georgeline_Ukwuoma
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