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10 worst credit card mistakes

Whether you're in a financial crunch or just lack a second Ferrari, credit card offers landing in your mailbox might look like an answer to a prayer. Don't succumb to temptation, says Cate Williams, vice president of financial literacy for Money Management International in Chicago. "The first thing consumers need to do is walk from their mailbox to their shredder," says Williams. "A new credit card might give you that sparkling feeling for about 24 hours, but as a way to clean up your finances, borrowing money to pay back other money is not a solution." Experts’ advice can steer you away from the top 10 credit card mistakes. 1. Getting too many Bypass the shredder and you could make one of the most common credit card blunders by collecting too many credit cards. "Ask yourself," says Williams, “ ‘Do I need another credit card?' Probably 95 percent of us don't need another one to keep in the sock drawer or in the little metal box in the kitchen." Howard S. Dvorkin, founder Continue Reading

Home-Based Business Is It For Me?

The 1990s were called the "Decade of the Entrepreneur." More people are starting home-based and micro businesses than ever before. People are turning their skills, hobbies and ideas into profitable ventures. This can be a satisfying experience. The endeavor is usually something a person enjoys doing or is very skilled at doing. It allows for flexibility so you can work around your family and work schedules. It also gives you the independence of being your own boss. The words entrepreneur and entrepreneurship come from the French word "entreprende," which means "to undertake." An entrepreneur is someone who organizes, operates and takes the risk in a business venture, expecting to gain a profit. Entrepreneurship refers to the process of planning, organizing and operating a business. A home-based business is not for everyone. For many people it will be a supplemental income source for retirement or extra income for the family. In fact, only 46 percent of home-based and micro business Continue Reading

Small Business Time Management

A great job, wonderful family life and a successful part-time business. Until her employer fired her for poor quality of work and her business clients went elsewhere for better service. This scenario can happen to any part-time business owner. This is not to say working full-time while running a part-time business is impossible but balance and knowledge are key factors in business success. Part-time businesses allow entrepreneurs to "test the waters" and see if the business is viable while still earning a full-time paycheck. But there are many traps to avoid when moonlighting. Learn the 6 keys to avoid part-time business disaster. 6 Keys to Avoid Part-time Business Disaster 1. A Conflict of Interest?: The first question to ask when starting a part-time business is "Does your venture conflict with the interests of your employer?" If your part-time business and employer markets and serves the same industry, there may be a conflict. Examine your hiring package to see if there is a Continue Reading

6 Keys to Avoid Part-time Business Disaster

Jennifer thought she had it all. A great job, wonderful family life and a successful part-time business. Until her employer fired her for poor quality of work and her business clients went elsewhere for better service. This scenario can happen to any part-time business owner. This is not to say working full-time while running a part-time business is impossible but balance and knowledge are key factors in business success. Part-time businesses allow entrepreneurs to "test the waters" and see if the business is viable while still earning a full-time paycheck. But there are many traps to avoid when moonlighting. Learn the 6 keys to avoid part-time business disaster. 6 Keys to Avoid Part-time Business Disaster 1. A Conflict of Interest?: The first question to ask when starting a part-time business is "Does your venture conflict with the interests of your employer?" If your part-time business and employer markets and serves the same industry, there may be a conflict. Examine your hiring Continue Reading

How To Manage Debt And Credit – Banking And Budgeting Guide

Avoiding credit card overload increases your opportunities to save and invest for important goals. 1. Managing Debt and Credit Credit was once defined as "Man's Confidence in Man." But in fact, the definition of credit today is more like "Man's Confidence in Himself." Using credit today means you have confidence in your future ability to pay that debt. Forty years ago, your parents may have paid cash for their homes and their cars, a largely unheard-of event today. If they borrowed money at all, chances are it was from a relative or friend, and not a financial institution. Today debt and instant credit are part of our everyday lives. The convenience of instant credit, however, has taken its toll. Many individuals use credit cards to spend more than they earn, and a few of these people actually build themselves a debt prison from which some never emerge. On the other hand, those who never use credit can be denied a loan or credit when they have a justifiable need or use for it. Using Continue Reading

How to Dig Yourself Out of Debt and Save at the Same Time

Even if you're living paycheck to paycheck, this report will show you how to start paying down debt, build emergency cash reserves, and even set aside money for investing. 1. How to Dig Yourself Out of Debt and Save You're living paycheck to paycheck and it's causing a lot of stress. Bills and credit card payments are eating up most of your income. You know you need to rid yourself of debt and save some cash -- a cushion of three to six months' living expenses to use in case of emergency. And you'd like to begin investing on a regular basis to build some financial security. But how can you get ahead with the bills you already have, not to mention the unexpected ones that seem to crop up automatically whenever you have a little extra cash? Chances are, you find it difficult to do anything because you don't know where to start. Relax. A lot of people are in your situation. What you need to do is face up to the matters at hand and set up a plan of action. The time to do that is right Continue Reading