Money Questions and Answers

Four Ways Small Business Owners Talk Themselves Out Of Success

I’ve been reading “The Art of War” the new book by Steven Pressfield, and it is incredible. As a writer, it has made a huge impact in my life. If you are a writer, artist, or small business owner, you need to read this book. And, if you are thinking about becoming one of those or have always wanted to become a small business owner, you should definitely check out this book. It is that good!

The book talks about resistance. What keeps us from doing the things that we were meant to do? Did you always want to write the great American novel? Have you always wanted to start your own business? It is resistance keeping you from your goals. Pressfield goes into great depths in this quick and easy read about how resistance holds us down. You can achieve small business owner success.

Here are four ways that small business owners success is stifled by the resistance that we perceive and the resistance that we place on ourselves. Don’t be a victim to resistance! You can use “The Art of War” by Steven Pressfield to be a small business owners success.

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Small Business Owners Success We Talk Ourselves Out Of

Let Our Family Talk Us Out Of It

You cannot take no for an answer if you want to be a small business owner. Gary Vaynerchuk told me in my interview with him that you are most likely not made into an entrepreneur. You are born to be one. You cannot let your family hold you back. They love you. They are worried.

But, you cannot let them stop you from exerting your God given talent. You were born to be a small business owner. Your family may be the resistance that Pressfield is talking about. Don’t give in!

Not Show Up Every Day

Are you a professional or an amateur? That’s the heart of Steven Pressfield’s book, “The Art of War”. You have the show up to work every day to be a professional. Whether you are a writer, artist, small business owner, or other creative people, you have to put in the hard work. You have to show up. You have to try. You can’t wait until tomorrow. That’s the essence of beating resistance.

How Macro Economic Issues Affect Middle Class Americans

by Hank Coleman

The stock market is humming along lately, but this is of course despite a few recent macro level economic hiccups. Thanks to the federal government and the shutdown the economy has continued to remain sluggish.

According to a report recently released by Standard & Poor’s, the government shutdown cost the United States $24 billion in lost production and growth. It took out $24 billion from the U.S. economy over the 16 day shutdown.

My Interview With Frank Trotter, President of Everbank Direct

In this episode of the Money Q&A podcast, “Your Money: Your Choices”, I interview Frank Trotter, the President of Everbank Direct, and we talk about how macro economic issues affect everyday middle class Americans. Should you be concerned about quantitative easing or other Federal Reserve policies?

How do those decisions in Washington DC affect the rest of us? Will we ever see the return of a savings account that earns 4% annual rate of return or more. These questions and more are what I ask Frank Trotter of Everbank Direct. It is a great conversation about the economy and how large macro issues touch us all.

I asked Mr. Trotter about where quantitative easing comes into play. Is the average American concerned about quantitative easing? Should they be concerned about it?

“Well I think it’s interesting,” said Trotter. “You know Steve Forbes, when he gives talks sometimes says, ‘if you have a chatty neighbor on an airline and you want him to shut up, just say I’d like to talk about monetary policy’. And, I think it’s a really difficult topic, from a technical standpoint, to understand. So, I don’t know if people actually have a context even to understand it. We’re [Everbank Direct] concerned about it. Maybe it’ll work. Maybe it’ll be the dream scenario. It’s going to get us through, but it could be a disaster.”

Want to hear more about what Mr. Trotter had to say? Be sure to check out the rest of the podcast episode on iTunes.

Taking The Mystery Out Of A Car Insurance Claim In 5 Steps

by Hank Coleman

People tend to take their car insurance for granted until it comes time to file a car insurance claim. At this point, drivers need the mystery behind the claims process to be unveiled quickly.

People often feel nervous and uncomfortable making claims because they do not know exactly what the whole thing entails. Some parts of the process can vary depending on the state, the nature of your accident, and the company.

Taking The Mystery Out Of A Car Insurance Claim

However, by familiarizing yourself with the typical experience of the average insured motorist, you can ensure that the process goes smoothly and that you will get the most out of the policy for which you have been paying. Whether you have to file a car insurance claim while holding onto your SR-22 insurance or your standard premium policy, the following 5 steps will demystify the claim process for you.

Get All the Relevant Information

It is extremely likely that you will be filing a car insurance claim because you have been involved in an accident with another vehicle. In order to have the data necessary to file a claim, you must be sure that you collect the license plate number of all cars involved in addition to the other driver’s insurance information. It is also wise to get phone numbers from the other drivers in case additional information is needed.

Make the Situation Cut and Dry

It is important to gather contact information for any witnesses and collect the information necessary to have access to any police reports that may be made concerning the accident. It is likely that the insurance company will ask for such information in order to verify which driver was actually at fault before they will make any payouts on any subsequent claims that are being filed. The party at fault can have a major bearing on the dollar amount that your insurance adjuster is willing to sign off in regard to your car insurance claim.

Should You Have a Money Rule to Give to Charity?

by Hank Coleman

Do you give money to charity? You’re not alone. In fact, the National Philanthropic Trust and the Center on Philanthropy at Indiana University found that 88% of all American households give to charity. And, the average annual gift to charity is over $2,200 per family. We are a nation of givers. Giving is an important step in our own personal finance journey. There is a reason why Dave Ramsey includes it in his last baby step of his popular book, The Total Money Makeover. Author Mary Hunt also lists giving as a money rule. It is one of seven in her book, 7 Money Rules for Life: How to Take Control of Your Financial Future. Should You Have A Money … Read more

Tips To Selling Your House Quickly When You Need The Cash

by Guest Contributor

The following is a guest post on Money Q&A. Would you like to write the next one? If you would like to write an article for Money Q&A, please visit our Guest Posting Guidelines page.

If you are considering selling your house quickly and you need a quick sale on the open market, there are a two things that will attract potential cash buyers to your sale, appearance and pricing.

If a cash buyer is looking for a good deal on a property, be it for investment or for their own residential home; usually there first priority is getting the price right, and finding a bargain. If you can price your property effectively and undercut other properties in your area, you are well on your way to getting the cash sale that you desperately need.

If you don’t want to give out huge discounts on your property in order to sell it, there are other ways you can entice buyers with pricing. How about agreeing to pay their legal fees for them? Or gifting them surveyor costs? Anything that you do to make your price more attractive will surely send buyers flocking to your property sale.

Selling Your House Quickly When You Need Cash

Realistic Pricing Matters

Getting the valuation right on your home in the first instance is crucial when you need a fast house sale. Overvaluing your home will just set you back further, and increase the time it takes to sell – if you are desperate to get the cash out of your property, any delays could be vital and may cause you to get into further trouble with your bank which may lead to repossession procedures.

To get a reasonable accurate valuation of your property, the best place to start is to look at recent sales in your area. There are various tools online such as NetHousePrices, and Zoopla that can give you this information for free. Once you have this, you can average the sale prices out, and come up with a valuation for your home. If you are looking to sell quickly, it may be an idea to consider discounting a further 5-10% from this figure in order to attract cash buyers to your property listing. Remember, cash buyers can buy in as little as 7 days, whereby a regular mortgage purchase will take over 1 month.

Things To Remember When Setting Up Your Business

by Guest Contributor

The job market in the UK is improving but more and more people are choosing to set up their own businesses, both creating jobs and helping with the recovery of the economy. Coming up with a feasible business idea and strategy is the hard part, and once you have decide what you want to achieve you can set about doing all the necessary paperwork and sorting out the logistics of setting up your company. There are a few important things to remember when setting up your business. Some of the main ones are listed below.

Business Bank Account

You should consider opening a business bank account from the very start. If you are setting up as a limited company or a partnership you are required by law to have a separate account for your business finances. If you are setting up as a sole trader or self-employed there is no legal requirement to have a separate business bank account, but it can be useful if you want to keep track of your incomings and outgoings quickly and easily, and for tax purposes.

The government is very keen to encourage start ups and new businesses and has made sure there is a provision in high street banks for those wanting to set up their own business. Most big name high street banks have specific accounts designed especially for start up businesses.

Business insurance

You should look to take out relevant insurances to your business from the offset. Seek advice to find out exactly what you need to be covered for. If you are going to be employing one or more members of staff you are legally required to have employers’ liability insurance. This covers you in case anyone working for you falls ill or is injured as a result of their job. The other big thing to remember when setting up your business is public liability insurance.

This is important for any businesses that are visited by customers, contractors or visit other companies. The insurance protects you should an accident occur that injures a third party or their property on your premises, or if you cause any damage whilst on theirs. You can find out more about liability insurance online or by speaking to a business insurance provider.