Managing the cash flow of consulting company can be very complicated.On one hand you have your consultant and employees who need to be paid every week or every other week. On the other hand, you have customers who usually pay their invoices on net 30 to net 60 day terms. Obviously, it is the responsibility of the consulting company to cover all expenses while waiting for the customers to pay. And unless the consulting company has to cash reserve or has access to a line of credit, this situation can lead to working capital problems.
One way to solve this problem is to ask customers to pay sooner. However, this requires customer cooperation. And ultimately, this strategy places your cash flow at the mercy of your customers. For many, a better alternative is to finance their invoices using invoice factoring.
Invoice factoring solves this problem by shortening the time period between invoicing the client and collecting the revenues for the invoice. Your customers dont need to pay sooner though .Rather,a factoring company advances funds against your accounts receivables and holds your invoices as collateral.
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You’re a new parent, you’re looking for a name for you new son. What better idea than to carry on the family name than to name your son after you. So little Johnny Jr. is born and you live a life of blissful pride as you watch your namesake grow and mature. “What a beautiful and enduring legacy we have created, right dear?” WRONG!
The problem is the credit reporting bureaus are extremely automated and if a name that is very similar and has other similar characteristics, such as a common address, their credit information is very easily mixed up and blended together.
So the problem is also when either Jr. or Sr. goes to the bank to get a loan and the loan officer is mentioning vehicle repossessions, charge off accounts, and other very damaging lines of credit, much to the dismay of the person who is applying for the loan, they exclaim to the loan officer, “That’s impossible! Those were my [dads/sons] accounts! How can they possibly be on my credit?”
The problem is because of the automation in the credit industry, it is very easy for similar names to be mixed in with similar credit reports, usually damaging one or the other’s credit history. Unfortunately,
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Do you have a concern over your job? Are you worried that you may end up with some expensive medical bills in the future? Always being prepared is one of the best things that you can do. It is important that you prepare yourself financially for any situation that may arise. Having an emergency savings account is one of the best things that you can do in order to protect yourself from debt. There are several different accounts you can choose from in order to invest your money wisely.
An online savings account typically comes with higher interest rates than what you can find with your local bank. The best online banks will be able to provide you with 24/7 access with low or no monthly fees. ING Direct is one of the best online banks to work with as they offer Orange Savings Accounts. These accounts pay a higher interest rate and they are incredibly easy to use. ING Direct also offers a number of different account options that you can choose from, making it easy to manage all of your money with one bank.
Similar to an online savings account, the best rates are traditionally found online.
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As a longtime cheapskate, and a new cheapskate mom, I have often been bemused by the amount of money people spend to prove to their spouses and children just how much they love them.
No time is this more true than on February 14 of each year, when love advertising goes into overdrive to convince consumers that true love is measured by wallet thickness.
For a family on a budget, the prospect of childrens parties at school, gifts or mementos from parents to kids, and the all-important Valentines gift between spouses can make you wish that the calendar could just skip from January to March.
Fortunately, making this year the most memorable Valentines Day yet for your family can cost next to nothing. Here are some cheap Valentines Day ideas that will leave your wallet untouched and your family delighted:
The yearly Valentine exchange in the primary school classroom is an important part of American childhood. In many classrooms, students are asked to give a Valentine to everyone in class, which means your child is on the hook for anywhere from 20 to 30 cards.
1.
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That’s the good news. Now, the bad news. Wymar has a pretty restrictive field of membership. Credit Unions are allowed to restrict who can join to certain organizations, geographies, places of workship, or other criteria. Wymar membership is open to:
- Employees of BASF Corporation who work in Geismar, Louisiana and members of their immediate family
- Employees of this credit union and members of their immediate family
- Un-remarried spouses of persons who died while within the field of membership of this credit union
- Persons retired as pensioners or annuitants from BASF Corporation
- Organizations of such persons
Not all credit unions are this restrictive. Last week, I reviewed Fredercia Federal Credit and they allow anyone to join.
If you do quality, the credit union looks financially strong. Wymar FCU was established in 1958 and operates one branch in Geismer, LA. The credit union has a low Texas Ratio ( learn more about the Texas Ratio) of 4.71% versus the national average of 10.34% (the lower the Texas Ratio the better). Wymar holds $67.66 million in assets.
Wymar is NCUA insured, the credit union equivalent of FDIC insurance.
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— Phoebe Santo @ 6:15 pm — 
February 10, 2012