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Payday loans help to avoid paying Astronomical Credit card fees
Have you checked your credit card bills lately? I hope that you are not like me and not pay much attention to your statements. You see, I became a little negligent in that respect, and have been paying for it without realising just how much it was costing me. Credit card fees can be astronomical, especially if you do not make more than the minimum payments each month. You get lulled into a false sense of security, though, because you think youre making headway with regard to your payments. If you take a closer look at your credit card statements, however, you will realise that your minimum payments are probably only covering the finance charges that the credit card company applies to each statement.
The only way you can really benefit from using your credit card is to pay off your entire balance as soon as you can. Small minimum payments will only keep you in debt for an extended period of time. But what will you do if you do not have the money to pay off the whole balance? You might try looking for someone who has the spare cash to lend you. That is not a very viable option at the moment, though, as most everyone is experiencing tight financial situations.
A payday loan is a much better option, as it allows you to get hold of cash quickly, without personal strings attached. It is basically a business situation, wherein you borrow money and you pay it back with charges applied. So how do you get this money and get rid of astronomical credit card fees for good?
Go online and look for a payday loan provider. There are countless payday loan providers offering their services all throughout Australia today. All that is left for you to do is to find one that you think will suit your needs and preferences in the best possible way. This might prove to be daunting at first, due to the number of choices that you will find. One way to make it easier on yourself is to ask for recommendations from friends and family who might have had experience with payday loan providers before. Alternatively, you can look through blogs and forums for similar information. Whatever you decide to do, just make sure that you compare and contrast the options available to you before you sign on the dotted line, so to speak.
Once you have chosen the payday loan provider that you want to deal with, you only have to fill out the application form that is to be found on their web site. To make the whole process even faster and easier, make sure that you are at least 18 years old, you are a citizen or a resident of Australia, you have a current bank account , you have a regular source of income. Before you know it in 24 hours or so you will have the money to pay off your credit card in full, which is directly deposited in your bank account
How a Financier Reads a Business Plan and Tips for Writing a Business Plan
This article explains the importance of a business plan when seeking help from a financier. In addition it provides useful tips for writing a business plan.
A business plan has four main purposes.
1. To establish the viability of your business
2. To document your objectives and forecasts for the business
3. To benchmark and measure progress
4. To communicate your plans to outsiders such as a financier
There are two types of financier, the lender and the investor that you may approach or who may be interested in your company venture.
The Lender i.e. a bank will be looking to see how you propose to handle potential risks that your company may encounter. Their main concern is regarding the security of the repayments for the money they have loaned you, and will therefore want to ensure that you will be managing the companys risk wisely. As well as checking your credit rating a bank manager may ask you a number of questions in an interview which you will need to be able to answer, such as:
Why do you need the amount requested?
What will you do with it?
How do you know its enough?
How much less can the company survive on?
What other sources of finance do you have or who else are you borrowing from?
How are you going to pay it back?
What collateral or guarantee do you have?
You need to ensure that these questions are already answered in your business plan as it is much harder to change the managers mind in your interview with them. The bank will look for collateral and cash flow within your plan.
Make sure you are not afraid to ask for the exact amount required, because if they lend you an amount that is not enough to get the business going and you need to ask the bank for more money, they may question how well you have planned your financial requirements. This could make them sceptical about lending you more.
Professional Investors accept risk, although they will try to limit their exposure to it. The questions they may be asking themselves while reading your business plan are:
How much can I make? They are usually looking to make around 30-50% annual compound growth on their investment
How much can I lose? What is the risk of losing their investment?
How can I get my money back or out of the company?
Who else is investing it this company?
So now you know why it is important to have a business plan when seeking investment from a financier, the article will give some useful tips for what to include in the business plan. The business plan should summarise the following points:
The overall objectives of your company.
Who your clients will be and their current buying behaviour.
Who your suppliers are and how much bargaining power they have.
Who your competitors are and how you will differentiate yourself from them.
Who are the key personnel and what their core skills are.
How the business will operate, including the assets needed to run it.
How much finance is required; and contingencies should sales fail to meet the forecasted level.
To conclude, business plans are very useful for raising finance for a business. Even if you are lucky enough to be in a situation where you do not need to raise capital, preparing a plan will help focus your thoughts, check your calculations, help you monitor results and enable better communication of your ideas.