mestokaplice Finance

How Much Credit Do I Qualify For

When you qualify for a credit card, your bank will determine your credit limit, based upon a number of factors detailed below.

Credit cards offer individuals greater financial flexibility and improved spending power, by providing access to a line of credit on an ongoing basis. The amount of flexibility will, of course, be determined by your credit limit, which is set by the bank issuing your credit card. Credit limits are regularly reviewed, and can be increased or decreased based upon these reviews.

In this article learn more about how credit limits work, and the factors determining how a credit limit is set. This will give you a better idea of how much credit will be extended to you if you qualify for a credit card. Also be sure to explore the range of credit cards available via the Plastiq site.

What is a credit limit?
A credit limit is the maximum amount of money that you have available on yourcredit card account. For example, if your credit card limit is R5,000, you can spend up to R5,000 on credit before you reach the limit set by your bank. When you repay the credit youve used, or a portion thereof, the amount youve settled will be available to you once again.

Thus, if you repay R2,000 of the R5,000 spent, you will have that R2,000 at your disposal once again. If you settle the full amount, youll again have R5,000 worth of credit available to you. This is known as a revolving line of credit.

How will the bank determine my credit limit?
When you qualify for a credit card, your bank will set a specific credit limit for that card. This credit limit is based upon your credit score, which reflects your creditworthiness,the financial risk you pose to the lender, as well as your affordability. Hence, the better your credit score, the more credit youre likely to qualify for.

In order to work out your credit limit, the bank will require access to information pertaining to your income and your expenses. When you submit a credit card application, youll be required to include information relating to your current salary. You may also be asked to detail your monthly expenses.

Can I change my credit limit?
If you wish to reduce your credit limit, simply contact your bank and discuss your requirements with them. If, on the other hand, you wish to increase your credit limit, the bank will need to review your payment behaviour and affordability closely. Credit card holders who settle their balances promptly and maintain a good credit score may have their limits increased at the banks discretion, should they not be over-exposed already. By the same token, credit card users who practice irresponsible spending behaviour may have their limits reduced.

Contact your banks credit card division at any time to discuss your credit limit, or any other questions pertaining your credit card account.

Compare credit cards now and apply today to determine your credit limit.

Five Steps To Planning A Successful Business Exit

A business owners exit is a once-in-a-lifetime transformation. Were not talking about selling a house or a car. This is a complex process that requires the technical expertise of a team of trusted advisors. The key to any successful business exit is planning. It must begin with personal reflection on the part of the owner regarding what he or she wants out of the business exit. Only then can the owner, along with his advisors, design an appropriate exit strategy. The five (5) planning steps outlined in this article are designed to help business owners define their personal goals, understand all the transfer options and work with an advisory team to execute a successful business exit plan.

Step 1: Define the Personal Goals of the Owner

Since personal goals intertwine so closely with the daily existence of a private business owner, it only makes sense to begin with the basic albeit crucial question, What do I want to accomplish with my business exit? The answer seems obvious–make the most money after taxes and fees. Often, however, it isnt this simple. Owners have nourished and raised their businesses from infancy; they typically care a lot about who will take the reigns. Family members might also be involved in the business. Their fate will also be dependent upon what the business owner ultimately decides.

Aside from money, other motives for a business exit can include transfers to family, transfers to employees, transfers to co-owners, partial transfers to gain some liquidity today but still run the companys day-to-day business, or an initial public offering. The decision often comes down to a question of liquidity. A substantial source of liquidity outside the business makes for a much easier choice.

However, more often than not an owners wealth is tied up in the business. The owner must therefore balance his financial and interpersonal goals in order to find the best possible exit strategy. Therefore, an assessment of the range of values for the business is the crucial next step.

Step 2: Understand that a Range of Values Exist for the Business

The value of a privately-held business depends largely upon who buys it. Its not as simple as watching the ticker tape for todays stock price. The type of buyer can impact both the price placed on the shares (or assets) of the business and the tax consequences to the selling owner. Value (net transfer price) is therefore a range concept.

Internal transfers to employees, family, and co-owners provide fewer dollars up front, but allow for greater control of the business, continued income, and flexible timing and tax characterization of payments to the exiting business owner. By contrast, External transfers to other industry players, financial groups, or by initial public offering command more liquidity up front while the owner relinquishes more control over the Company and the timing and tax characterization of payments. A closer examination of the transfer options can help an exiting business owner determine the right balance of money and control over the future of the business.

Step 3: Examine the Options Available for the Transfer of Shares

There are seven (7) primary purchasers of privately-held business stock (or assets). Below are listed the Parties to the Transaction and Types of Transactions Available (samples; not a complete list)

Internal Parties:

Employees – Employee Stock Ownership Plan (ESOP)
Charity – Charitable Remainder Trust
Family- Gifting Program
Co-owners – Leveraged Buyout

External Parties:
Financial Groups – Recapitalization
Industry Buyers – Acquisition (at Synergy Value)
Initial Public Offerings – IPO (at Public Market Value)

Based on the primary goals defined in step one (1), an exiting business owner chooses the party to whom the business will be transferred. That designee, once chosen, will determine the limits or expansion of the Value. At the end of this phase, the process comes full circle as the Value (after taxes and fees) is matched against the owners goals. If the two meet as one, congratulations! A successful business exit strategy has been devised. Now its time to execute.

Step 4: Provide Full Financial Disclosure to the Buyer

This step isnt going to be easy on the business owner. Assembling financial records and presenting them to a buyer/successor is a very time consuming, very personal survey of how the business is run. It can be huge psychological block for many exiting owners. Remember, any savvy buyer (or successor) to a business will need to understand the financial condition of the Company. When an owner fesses up to any creative accounting they may have employed over the years to help build wealth and reduce tax bills, the process goes smoother. Full disclosure is the best path to a seamless process. There is an old saying – if the truth will kill a deal, then there is no deal.

Not only that, but it may reward the owner in the end. Full disclosure is not about passing judgment, but instead affords the buyer (or successor) an opportunity to assess the businesss true profit potential. The astute exiting business owner will recognize this in advance. Why? Because most creative accounting practices depress the profitability of a business. Clear those away and the Buyer will recognize a higher earning power and in turn a higher Value for the Company.

Step 5: Assembling the Advisory TeamĀ  No One Should Go It Alone

Planning and executing a successful business exit strategy is a complex process that requires the technical expertise of a team of trusted advisors. Its not the time to take short cuts or pinch pennies. Time and money should be invested in assembling the right team of advisors; a successful business exit is more than worth it. It should be viewed as an investment in success.

We must understand that business owners are independent self-starters. If they werent, their businesses wouldnt be so successful and we wouldnt be talking to them. But some of their strengths and characteristics can lead many business owners to attempt the do-it-yourself business exit strategy. This can create an unnecessary drain of time and money on both the business owner and their business.

A business owners exit is a once-in-a-lifetime transformation. It is an important milestone that is sure to provide any business owner with one of the most challenging yet satisfying sense of accomplishments.

So remember, planning is the key to any successful business exit because a proactive approach to an Exit Strategy is the only approach to a successful Exit Strategy. If youve come to the end of this discussion, youre already ahead of the game.

John M. Leonetti

Chartered Accountant Jobs – Improve Your Skills And Get Experience

In today’s economy, chartered accountant jobs are fast growing. Due to the fiscal crisis, many companies have initiated hiring freezes. Long time personnel are facing budget cuts, which force them to work for less money. With this entire happening, who is actually doing the work then? The answer rests in chartered jobs. From contractors and freelancers to temporary assistants, work is being outsourced like never before.

Several accounting firms now heavily rely on chartered accountants. Like regular accountants, chartered accounts have extensive industry experience. The only difference is that they work under a mentor for no less than three years. To become a charted accountant, you must have completed a two-year program. This is normally affiliated with postgraduate endeavors.

Chartered accountant jobs have several benefits. These benefits can open the door to a riches of new opportunities. From world travel to global appeal, this is more than just a regular job. The benefits include excellent pay, networking, and professional enhancement. You also learn as you go, which are great for tackling new developments and changes. Your mentor will also guide, advise, and make certain you are taking the right path to success. You could possibly implement your learned skills as well. This position offers job growth, which allows accountants to steadily climb the ladder of success. It’s also perfect for college students looking for an exciting and thriving career.

Chartered accountant jobs are widely available. Because of the their popularity, several people have considered career changes. With a solid foundation, they could possibly earn more revenue. The ability to work with a varied range of clients is also beneficial. This will lead to newer projects and higher visibility. As accountants, these are continuously in demand. From the public to government sectors, chartered accounts tackle several issues. These include tax endeavors, business initiatives and financial investments. With unsurpassed knowledge, accountants deliver viable options and suggestions. They also provide a valuable service to the public. Since accounting jobs are always available, those wishing to enter this field have a good market scope.

From bookkeeping to financial reviews, chartered accountant jobs continue to expand. The need for chartered accountants has risen in the last 5 years. This means more jobs and much more opportunities. In today’s economic climate, this is truly a breath of fresh air. Statistics also show that several college students are taking up accounting. Due to its productive nature, this exciting field can lead to other financial endeavors.

Elements For Retirement Planning – Finding The Answers

iohjvsRetirement is a time inside your life once you should be comfy. How can one make certain that comfort now? The greatest way is to understand all you could about retirement to make certain that you’re ready when the time comes. As a way to get an education, research the hints beneath./p>

If your employer has a retirement plan, then work with it as much as you could. Should you ever have the income to spare, then stick it within your retirement plan. An employer’s retirement plan is a excellent thought since there will be much lower taxes plus the employer may match your savings as well.

Start preparing for your retirement inside your 20s. By sitting down & preparing out your retirement early in life, you could be sure that you’ve saved sufficient to make retirement enjoyable. Saving ten percent of your income each month will help ensure you’ve sufficient earnings to live comfortably.

Lessen the level of revenue that you spend on miscellaneous items throughout the week. Go over your monthly expenditures and cut items that are not crucial. Over a number of decades, these savings really add up.

If your employer offers a retirement plan, invest in it. Many bosses offer a matching plan which increases your savings, so be sure you invest at least up to the matching quantity. Moreover to saving for retirement, a 401k plan will help lower your revenue taxes every year.

Don’t be afraid to ask questions. However, the issue several individuals face today is basically not realizing adequate about their retirement options to make a selection. Ask buddies, family, and coworkers about their retirement plans & your available choices. You will be surprised to study that there is a world of possibilities waiting for you.

Investigation your certain Social Security benefits. Once you retire, Social Security will offer positive aspects around 40 percent of your pre-retirement earnings. In case you go online, you will find a lot of Social Security calculators that will enable you estimate your expected income from Social Security in the course of retirement. This can allow you plan better for the future.

Do not sign up for Social Security the moment you are old sufficient to gather it. If you wait, you can get more in the monthly allowance they give you, which makes being financially comfy feasible. This really is better achieved if you have various sources of earnings.

Rebalance your portfolio on a quarterly basis to minimize risk. In the event you do it more than that, you could fall prey to sector swings. Less typically may cause you to miss quite a few opportunities. Consult with retirement account specialist to figure out the finest allocation plan for your funds.

If you’ve continually wanted to be more politically active in life, though basically never had the time, do so inside your golden years. The 65+ voting group has turned into quite a force, and you could have fun expressing your political opinions. Look online or sign up for a nearby group, & let your voice finally be heard!

Think about downsizing in retirement. When it is just you & your spouse, you no longer want a large home & two vehicle payments. When you downsize, you could reduce your monthly debt which makes it easier to delight in retirement more. Think about an apartment, town home or even a nominal single family home that will adequately meet your desires without breaking the bank.

Have a plan for traveling throughout retirement, or you’re in all probability going to regret it! Traveling is 1 of the most enjoyable methods to spend your time, yet it gets awfully pricey. Have a financial plan that allows you to see the sights you’ve continually wanted, and avoid going overboard. You don’t need to come home to an empty bank account!

Make as many contributions to your 401K as possible. First, as you can imagine, you need to find out if your company offers a 401K plan. If they do, then this ought to be your primary saving concern. Not only will they offer smaller taxes, however they normally match your investments if they meet the needs.

With these easy tips & tricks in mind, now is the best time to get started. Take over your future by planning your retirement right away. These suggestions will ensure that you’re in a position to get all of your ducks in a row, setting up a time in the future once you can just relax.

Zero cost strategies from the experts on 401k Plans. Guidance on Rollovers. An education on Annuities. Comparing Mutual Funds. Planning for retirement Savings Plans to select from and tons of facts on 401k’s.

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