Financial Information

Believe it or not something like Asset Management is actually very important for a business and this doesn’t matter if your business is small or large although it is of course more beneficial to a bigger company.

So why do you think companies are in need of something like this? Well it really does help save on money in the long run. There are many people that will simply just take a small stroll around the office and see if things are looking a bit old, this is not enough. It can be very useful as you can take a look and find out that things are not in need of replacing for another 6-12 months. This is where Asset management comes into it as there are many pieces of software out there that will tell you when exactly you will need to replace bought items in the company.

Loads of information is given out to you on one database and each bit of information is just as important as the last which is why asset tracking is so important.

The system well actually tell you quite a lot of things like when you purchased the asset and whether or not you have things like insurance on it!

It really can help you out as you can have a look and see just how old the office computers are and you may be surprised to see that you do not have to upgrade them at all and if one of the machines has broken you may be able to claim it back on the warranty which is also shown on the database!

Do you really need all of this? Well believe it or not if you are in charge of a business it is actually a legal requirement for the balance sheet and having some form of asset inventory saves you the trouble of dong it manually in a frantic rush at the end of a financial year.

If you want to do it manually you can do but you will certainly have problems when it comes to fixed asset accounting if you are a larger company.

Economic downturns are never much fun, but as Adam Smith observed centuries ago, these cycles of paucity and plenty are a fact of life. Though no one can say for sure when this most recent slump will reverse, there are at least sure ways of saving your money in the meantime. Here are some penny-preserving ideas tailored to our 21st-century lives:

1. Plenty of people are in the habit of cutting out paper coupons, but even though many of us do some of our shopping online now, not as many of us seem to have learned to coupon-hunt on the Internet. Sites such as CouponCabin.com, CouponMountain.com, and DealofDay.com list thousands of current offers at merchants all across the Web.

2. Use price-comparison websites like Pricegrabber.com, Shopping.com, Google Product Search, and mySimon.com to find the best deals online.

3. When you’re out at a store, send a text message to 46645 (Google’s text number) and enter the letter “f” and then the name of the item you’re looking at. Google will reply with a text message quoting its online prices. To compare prices at stores near you, go to ShopLocal.com.

4. If you don’t already belong to one, consider joining a warehouse club such as Costco or Sam’s Club and buying in bulk. This can be especially helpful if you have a large family.

5. Buy generic instead of brand-name products. A lot of the difference is often in the marketing hype and not the products, anyway.

6. Withdraw your money from surcharge-free ATMs, which can be located on AllpointNetwork.com and MoneyPass.com.

7. Buy locally-raised food at farmer’s markets or stores that sell local produce. Prices there are often lower since the food doesn’t have to be transported far.

8. Shop at dollar stores. You shouldn’t have a hard time finding them since they’ve been popping up all over the place in the recent past.

9. Purchase discount prescription drugs from online pharmacies. You’ll often end up paying well under half as much for the generic pills stocked by these discount prescription drug stores than you would for the same brand-name medicines at brick-and-mortar pharmacies.

10. If your car is seven years old or older and/or worth less than $2,500, consider dropping comprehensive and collision from your insurance.  Your deductible may be closing in on the value of your vehicle anyway, in which case a major collision would send your car to the junk yard and you to the dealership.

11. Keep cell-phone expenses under control. Kids today love to send text messages, so save yourself from unexpectedly high bills by paying the flat monthly fee for unlimited text messaging.

12. Use online classifieds to buy used items. Sites like CraigsList.org and Kijiji.com are excellent resources for finding everything you need, from pre-owned furniture to baby gear. By buying from locals, you can save on shipping costs too.

13. Go to matinees. The matinee showing is frequently more reasonably-priced than peak-time showings.

14. Install Power Planners (see www.energycsi.com/energysmart) to lower the energy consumption of your electrical appliances.

15. For your next date, plan a romantic picnic instead of going to a pricey restaurant. Pack a blanket and a cooler full of your favorite foods and you’ve got yourself a low-cost rendezvous. Add some color with a bottle of wine.

16. Instead of paying for software, look for (legal) free software from websites like Download.com and SourceForge.net. Depending on how you use a given type of software, the free alternatives will often be just as good as the commercial versions.

17. If anyone in your house is a student, get the Student Price Card from SPCLive.com. It’s only $8.50 and it will get the holder 10% to 15% off in scores of participating stores.

18. Control your thermostat. Using a programmable thermostat to adjust the temperature will save energy when you’re sleeping and away. Prices range from $30 to $120, but you’ll reduce your bill by 10% to 20%.

19. Consider leaving your health club. More economical options may include a gym at your work, in your building or community, or at a nearby parks and rec. center.

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The recession hasn’t exactly been a keen investor’s best friend. 

With the Fed introducing legislation based on quantitative easing (which means that interest rates will plummet to historic lows) and the markets performing shaky at best, many of the savviest investors are opting to pull out their money before incurring any more losses.  However, it’s important to note that even in the current economic climate, smart investments can still be made with less risk involved.  The key to protecting your hard-earned money while earning a tidy profit is not how much you invest; rather, it’s where you put your money in the first place.  Consider these alternative investment options to keep your money right where it belongs – in your pocket!

Indexed CDs have become increasingly attractive to savvy investors over the years, and it’s not because it offers protection against principal loss; indexed CDs are one of the most effective investment options in the face of inflation, which the Fed predicts will drastically increase over the next decade.  Lock in your interest rate now and ensure that your CD lasts for no longer than five years, as the recovering economy will do a long-term locked-in CD more harm than good.  Financial experts typically recommend locking your money in an indexed CD for no longer than eighteen months.  Before investing, be sure to research which CDs offer the best rates over an eighteen-month period; a great resource can be found at www.bargaineering.com. 

If an indexed CD isn’t your cup of tea, then try the indexed annuity out for size.  Once the bane of investment advisors everywhere, indexed annuities are quickly becoming one of the preferred investment options for baby boomers reaching retirement.  An indexed annuity is simply a contract with an insurance company that guarantees a minimum interest payment; an additional benefit is that your indexed annuity (which is linked to the stock market) can generate even more cash flow if your stocks do well.  Indexed annuities offer a great investment opportunity for those looking to protect their money while dabbling in the unstable world of Wall Street.

Like with many investment schemes, however, make sure you understand the minute details before leaping into indexed annuities.  Don’t lock your money in one for more than ten years, as you run the risk of making little more than the interest rate, even with inflation.  Be sure that your insurer will honor the promoted interest rate for the entire length of the annuity, as many insurance companies fail to advertise which interest rates are permanent and which are merely promotional.  Be sure to involve your investment advisor in any considerations regarding indexed annuities, as he or she can point out esoteric details that may have first escaped your notice.

Not all investments retain an all-or-nothing mentality; in fact, you’ll find that many investments are tried-and-true methods for generating a tidy sum of money that can go towards retirement.  These alternative investments will go a long way towards protecting your money while still generating a surprising amount of cash flow straight into your savings.

Authored by Kenneth Himmler, Sr.