Getting Into High-Yield Accounts
By financen | September 30, 2011 - 2:31 pm - Posted in Personal Finance

For most people, the future is an abstract concept that lurks somewhere in the peripheral of things. Far too often, your later years aren’t adequately planned for.  It only becomes important once it’s too late. You hear it all the time, yet people still remain hesitant to start saving for their later years. Some say it’s out of a way to put off coming to terms with aging. Others say the money just isn’t there. Either way, it has to be done. There are many investment vehicles out there and high-yield savings accounts are definitely one of the safest and best long-term investment strategies one can take.

You don’t want to put any money in traditional savings accounts or CDs. The interest rates are just too low to ever make a difference. This all came about as a way to help the economy, but it seems to be having the opposite effect. The government wanted to help the country recover from the downturn and get banks lending out money again. So to do this, the Federal Reserve lowered interest rates for these banks to make things easier on them. However, the bar is set so high, it’s really hard to qualify for a loan these days. Companies are having a hard time paying for the costs of running business. Businesses are keeping more of their money in cash for those just-in-case moments.

Interest rates are low for loans, yes, but they’re low for everything else to. That’s why the high-yield market has seen a lot of movement. People want to save, but it seems pointless right now with all of the traditional avenues. Finding a high-yield account is going to be largely up to you. The first thing you have to do is shop around. Not every bank is stuck at the near-zero interest rate. Many banks, usually the smaller ones, devise marketing strategies to get more people. To do this they’ll offer really great interest rates. Look around for the banks with the highest interest rates for savings accounts.

A high-yield savings account is, most often, a basis or pillar of a person’s financial portfolio. You don’t want to use it like a checking account. Instead, have a portion of your paycheck put directly into the account. Make sure that you leave it alone because you want that money to make as much interest as it can. This is a great way to prepare yourself for financial stability when you’re older.

Comments Off on Getting Into High-Yield Accounts
What is Confidential Factoring?
By financen | September 22, 2011 - 1:57 pm - Posted in Personal Finance

Any business owner will tell you that occasional cash shortages are a natural part of the ebb and flow of any company, and not necessarily a sign of a business in serious trouble. Many factors can contribute to these shortages, such as late client payments, end-of-month outgoings such as staff wages and unexpected expenses. Even the best-run company isn’t immune to these issues, but frequent cash shortages can have a knock-on effect that impacts on the ability of your business to trade profitably and develop.

If you find that your business is being hampered by cash shortages, invoice factoring can be an important lifeline, providing you with the cash you need, when you need it, without the need to take out a bank loan. However, in some cases you may prefer not to disclose your financial arrangements to clients and potential investors. In these cases, utilising confidential factoring services could be an ideal solution.

A confidential factoring facility ensures that the invoice factoring service performs all credit management under your business’ name. This service is generally a good choice for larger, more established businesses with a strong balance sheet. Invoice Discounting is the most common form of confidential factoring. In many other ways it is similar to invoice factoring; in which your customer invoices are used as collateral in return for instant capital of around 90% of the value of the invoices. Once the invoices have been collected (usually by the factoring agency under your name) the remaining 10% will also be released to you, minus a small service charge.

There are a number of key benefits to invoice factoring and confidential factoring compared to a bank loan. A good invoice finance company will be able to provide a flexible funding option that increases in line with your turnover, without forcing you to renegotiate your contract. It can also help you to simplify your finances and cut down your overheads, allowing you to plough those resources into other areas of your business.

With all the options available, there’s no reason to allow your business to struggle or stagnate due to cash flow problems, especially in the current challenging economic climate. Get in touch with a reputable, fully accredited invoice finance company to find out more about your options. It could be the best decision you ever make for your enterprise.

Invoice factoring allows you to release cash for your business utilising invoices as collateral. Hitachi Capital is a reputable and leading provider of recruitment finance solutions. Winner of the Factor and Discounter of the Year award at the CreditToday Awards 2011.

Comments Off on What is Confidential Factoring?
Take preventive steps against insurance fraud
By financen | September 7, 2011 - 4:19 pm - Posted in Insurance

In an ideal world, we all want to live happily and don’t want to harm anyone for any reasons. But unfortunately, that’s not the case. Many a times, money becomes the driving motivation behind the thoughts and actions of people around us. When this happens, it opens the door wide open to insurance fraud. In this article, you will come to know about insurance frauds and the bad consequences of it in the auto insurance industry. You will also learn how to deal with it.

In an insurance fraud, there are two types of con men who perpetrates these crimes. The one who force you to hit them so that they can collect the insurance payments and the ones who destroy their vehicles so that they can collect the claim. Fire and theft often happens to be their favorite tool to commit an insurance fraud.

These insurance frauds are hitting the free auto insurance quotes that you find online. The phrase “free auto insurance quote” can be a bit misleading. What they are basically trying to say is that the quotation is absolutely free of cost, but you have to pay the full price for your insurance. The insurance quotes vary from one company to another company, but all of them are going to focus on the following key points.

1) Your age.
2) Your driving record.
3) Your car.
4) Where you live.
5) The economy.

Insurance companies are constantly raising their rates as the cost of the medical care and car repairs are going higher. The insurance rates are also getting higher as the number of claims they pay each year continues to climb. This means every fraudulent payment they make is another drop in the bucket that, when it overflows, is going to send your insurance payments climbing.

You can surely take a stand against all insurance fraudulent activities. Report insurance fraud when you see it, even if its someone whom you better know and is doing it. You can report such frauds to your nearest state insurance investigator and they will handle the rest. Remember, if they’re willing to allow you to pay for their fraudulent insurance claims, they weren’t much of a friend.

Comments Off on Take preventive steps against insurance fraud