Students! Manage your finance

Young boys and girls are reckless all the time and mostly during their teenage. In fact, it is the age to feel free and enjoy freedom without many barriers. Responsibility, discipline and punctuality are some of the words that are not fully understood by them. They take everything for granted and see life as it comes. Actually, there is absolutely nothing wrong about it since it’s the right thing to do. On the other hand developing a money management system will really help in the years to come. Parents and other caring elders should take initiative for teaching money management for kids. This helps to build a sense of responsibility and make them deal financial matters properly.

Importance of money management

It is imperative for every student to become matured enough for handling financial situations. Knowing their priorities, cutting down unwanted expenses and taking caring of savings are very crucial. This proves to be much useful in later years of life when financial dealings will be in a broader spectrum. So start to own and maintain a savings account at the earliest.

Next helpful tip is to create a spending structure and strictly stick on to it. It is good to make sure that you don’t spend much compared to the money at hand. Never go for unwanted shopping because it will only make you lose money. Window shopping is a better option though.

Furthermore, if you are a student and would like to make some profit, try your luck at share trading. But it’s very important that you know the details before plunging in. For that, you can take reliable advices from experienced elders. They will clear your queries and give a better idea regarding the prospects of share market.

Try to attend meetings and seminars on money saving by eminent personalities. You can check the daily newspapers to get more information about the time and venue of such programs. This will help you in getting so many valuable and proven methods for maintaining a good financial status.

Adding to that, inquire and confirm which bank offers the best interest rate for savings account. Starting your account in a reliable bank with better interest rates will be really beneficial.

So it’s never late if you have not started to think about savings and its numerous advantages. In fact, money management for kids and students is a must. It is essential to lead a good life without financial insecurities.


Management and finances within the health industry

Understanding the concepts in finance and accounting is needed in every levels of management. It does not matter if you possess finance acumen or not, it is highly useful to know the tools of accounting, its concepts and techniques to equip yourself with decision-making relating to finance and accounting. In this context, knowledge of finance for non financial managers is gaining significance.

How do courses on finance for non-financial mangers help the business?

  • Non-Finance managers undergoing courses on financial concepts can integrate financial policies while implementing decision making and budgeting. With the knowledge of concepts and terms, they could conduct the analysis of financial reports and statements like balance sheets and profit and loss statements. It will facilitate the non-financial managers to check the financial feasibility.
  • It also enables them to understand the cash flow statements to determine the status of the business, calculate the cost of business activities and controlling the day-to-day financial requirements.
  • Another benefit of undergoing courses on finance helps the non-financial managers to control and supervise the budgets deployed in different departments. Often, budgeting is a tedious process and demands the understanding of finance and accounting concepts and principles. Courses on finance help those mangers who are not involved with finance to understand the fundamental principles employed in budgeting. Ultimately, it aids in quick decision-making process.
  • Courses on finance are intended to develop superior managerial skills among non-financial managers. Some companies insist the employees on gaining the knowledge on accounting and finance concepts. They can later put in to practice while analyzing the financial statements.
  • Since finance is the lifeblood of a business, gaining knowledge about the financial principles and methods will be an added qualification for non-financial mana113gers.
  • Non-financial managers need to undergo crash courses to know about the various concepts like financial decision-making models, profit and cash flows, financial planning and budgeting.
  • Courses on finance allow the non-financial managers to understand and make decisions on the financial matters in time.
  • It helps in improving the productivity and expertise of the managers.

Finance for non financial managers facilitates easy decision-making process that involves financial matters. The courses may vary depending on the institution that offers the facility. However, the basic purpose of any such course is to impart knowledge in analyzing the financial reports like balance sheets and profit and loss accounts.

Healthcare industry as it relates to finance

The Health care industry has become highly dynamic with the onset of modern technology and the surfacing of information science. The changes seen are quick and drastic. At the same time the policy changes have made the operations more complex. The health care industry has a variety of issues in the changing environment. To make the conditions worse, healthcare costs are rising day by day, and the medical reimbursements dwindling. The issues faced by the hospital CEOs, are more often than not financial. The issues concerning reimbursements, bad debt losses, Medicare, Medicaid, etc are also alarming. The situation is finance for non financial managers.

To manage finances you have to take decisions which are sound, lenders like Simple payday offer loans to those within this industry, however they are more expensive as designed to be a short term fix. The decisions can be based on the financial indicators, which are tools in the hands of the managers.

The financial indicators generally consulted before making managerial decisions are:

Financial capability indicator

This is the ability to raise finance on its own to replace assets and technology and meet the growing demands in the service sector.

Liquidity ease

This is the ability to meet cash requirements within a specific time.

Capital sufficiency

This is the ability to meet long-term financial demands, and perform the maintenance of the long-term assets.


This is seen as the ability to provide the best services in the industry, at the minimum cost.

Human resource efficiency

This is the ability to provide the best human resources, and ways to manage their practices.

These financial indicators when put into use gave the best results in terms of profits, utilization of the optimum capacity, and reduction in borrowings with time.

The reasons that necessitate the establishment of such sound methods include the reluctance on the part of the clinicians to involve themselves in the financial management practices, budgeting, costing and cost management. Most Healthcare organizations are with the non-profit sector. The government or the non-profit sector is not keen on preventing loss-making systems and to give incentives to the efficient systems. If such checks are present, they will curb the occurrence of such problems henceforth.

Health care organizations, when they employ financial recording methods, are faced with objections when it comes to budgeting and raising funds. The FASB has issued Accounting Standards updates to make accounting work more simplified and easy to infer from.

The lack of knowledge, and the implementation of efficient accounting methods, are causes for the bad financial health of the Health care organizations. Finance for non financial managers will help solve such problems.

The increasing demand on the Monaco housing market

Real Estate in Monaco is decidedly one of the world’s top invested urban markets, holding especial interest with the worlds wealthy. A Demand for homes in Monaco is presently rife with the world’s most affluent. Notwithstanding, The Principality of Monaco has shown incredible resilience against increasing demand; and retains a competitive advantage globally.

The rich and famous flock here like flies on pop

The tiny micro-state offers among the world’s most desirable standards of living. The rich and famous find the temperate Mediterranean climate, impressive scenery, and diverse recreation amenities particularly enviable.

Lifestyle is a key factor for permanent relocation, or obtaining a vacation destination in Monaco.

Monaco’s residential sector

Monaco received particular attention with the emergence of the global economic crisis. Impelled by the war on terror and increased international tensions, private wealth had become increasingly important. A combination of factors encouraged the global wealthy to find sanctuary in the City-state of Monaco, stimulating a new influx of e-commerce money and business retirees – especially from British business people and entrepreneurs. The website Simple Payday recently reporting that Philip Green lost a small fortune in the Mote Carlo casino.

Monaco is a key beneficiary in the recent re-emergence of interests in resort and retreat property, showing continual increase of price in residential markets as demand for homes from the world’s ultra wealthy abide.

This provides a compelling reason for investment in itself.

You’ll need to be wealthy to live here

According to Savills World Research, Monaco has the highest concentration of ultra-high net worth personages in the world and stands out as being the sixth most important destination for the Elite’s direct real estate holdings.

By value, Monaco is in league with major world cities such as Moscow, New York and London.

Furthermore, The number of the Elite exceeded almost 200,000 in 2013, with a collective wealth of almost $27.8 trillion.

According to Wealth X, This is estimated to reach approximately $40 trillion by the year 2020.

A large distribution of wealth is rested in real estate in Monaco – particularly European Wealth that totals 31% of the overall wealth.

Who’s buying in Monaco

The prime markets of Real Estate in Monaco attract a diversity of investors, including Eastern Europeans, the British, Belgian, Italian Swiss, Russians, and The French.

The Principality continues through efforts of land reclamation and urban restructuring to maintain it’s competitive foothold in the market. An upswing of progressive urban development promises to preserve Monaco’s attraction as a destination for the world’s Elite.

It is safe to say that Monaco is expected to continue to be a major player in real estate’s global prime arena.

Reasons people move here

2% of the worlds luxury real estate can be found in Monaco. And being that it is the second smallest country in the world that is simply amazing! It also makes you wonder why so many of the worlds richest people choose to live here being that it is so small. What is it about Monaco that attracts so many people with money? Well the reasons go far beyond the gorgeous weather and unbelievable lifestyle.

Tax Benefits

This is probably the number one reasons so many celebrities and other wealthy business people opt to make the move to Monaco. Doing so can reduce the amount of taxes they have to other countries. When you are a resident of Monaco you do not have to pay taxes on your worldwide income.

Some countries believe Monaco residents should pay taxes if the majority of their income originated there. But Monaco doesn’t agree with that. It doesn’t matter where your income originates from you can avoid paying taxes on it altogether when you live in Monaco.

The Luxury Real Estate

Listen, there is no denying the fact Monaco is beautiful and they have some of the best luxury real estate in the entire world. Investors from all over the world are attracted to the properties in this area. The homes can be best described as extravagant and palatial. People with money simply love it. If the tax benefits aren’t a big enough reason to move to Monaco I assure the luxury real estate is.

Its A Safe Place To Live

Monaco is considered one of the safest places in the world to live.Their police force is actually famous for being so efficient. That’s not something you hear everyday. Add that to a low crime rate and you have yourself a safe place to call home. With so much going on in the world its actually nice to know there are still places like this. Those looking to move their wealth to Monaco should know it will be in safe hands and very well protected.

Its Great For Business

If you are a businessman, or woman, and you need easy access to certain industry hotspots Monaco is where you want to be. It is close to both France and Italy. It is also only 30 minutes away from Nice airport. Living in Monaco makes it very easy to get to and from major European cities.

Rising interest rates on loans

loans3One of the first reactions to rising rates is to cap the increasing interest rate on an affected loan. This is where a fixed interest rate can be beneficial, particularly if the rates are expected to keep increasing. The fixed rate stays the same for the life of the loan, unchanging regardless of what the market or indexes do in the future. Thus costs become stable. To take advantage of this option, the original adjustable rate loan will need to be refinanced to a fixed rate loan. The challenge for the borrower is to find a lender who will take over the old loan and replace it with a new fixed one. Applicants can be turned down if the loan looks too risky versus the applicant’s ability to pay.

As a practical solution to a rising interest rate, a borrower can just pay off the existing loan. This of course assumes the borrower has cash to make such a lump sum payment. If so, the loan commitment is eliminated completely. However, this approach can also incur additional costs if there is some kind of penalty for prepayment ahead of the loan schedule.

Just because an interest rate may be rising doesn’t mean it will stay that way. Depending on the index used to base the rate on, a rate that is increasing this year could fall the next year. A borrower needs to make a judgment call to determine if an index-based rising rate will become cheaper in the future. Sometimes the best option may be to do nothing and accept the temporary cost increase. However, with rate changes based on terms such as staggered increases, the logic of riding out the increase doesn’t apply so much since the cost for the rest of the loan life will be more expensive than before.

On the savings side, a rising interest rate is a good thing unless your savings are locked up into a fixed rate. This most commonly occurs with certificates of deposit. If your CDs are locked into a low rate, and the market rate rises significantly higher, it may be beneficial to take the liquidation penalty and close out the old CD to lock in a higher rate with a new CD.

And if you are considering a 5-3-1 commercial loan with the security of federal backing, beware of early payment.


The 5-3-1 penalty is required on loans of 15 years or longer that are guaranteed by the Small Business Administration under its loan program known as “7(a).”

A business that takes out a 5-3-1 loan is free to repay the balance at any time, but if it voluntarily repays more than 25 percent of the principal within the first three years, it is penalized a percentage of the repayment amount.

For prepayments in the first year after receiving the loan, the penalty is 5 percent; in the second year, 3 percent; and in the third year, 1 percent. There is no penalty after three years.

The clock starts ticking when the first funds from the loan are disbursed–not when the loan is approved.

The SBA requires the 5-3-1 penalty for two reasons. First, 7(a) loans are intended to help build successful businesses in the long term, not to provide short-term cash infusions. Second, the penalty ensures that lenders will make enough of a profit on 7(a) loans that they will continue to write them.

Business debts

Consider legal consequences

Consult with an attorney if the business debt is for a large amount, say $25,000 or more. The attorney can determine if you or the business is ultimately liable for the debt. Provide the attorney with a copy of the credit card or loan agreement, including any collateral. The lawyer should also advise you about measures you may be forced to take if the lender files a lawsuit. Depending on the severity of the debt you could be forced to file for personal or business bankruptcy if the lender files a lawsuit.

loans2.pngWhat will you gamble?

Create a strategy for negotiating the debt based on the liability. Settle the account for the full amount owed if you are personally liable and put up collateral such as your house or other real estate. Further info on pay day loans and personal loans can be found here Offer to pay the full amount in instalments to avoid foreclosure. Or take a hard stance with the lender if you are a risk taker. Tell the lender you’ll settle for say, 60 percent of the balance in a lump sum, and that you would rather face foreclosure than pay more. This is obviously a risky negotiating tactic that should be tried only with the guidance of your attorney. You could be forced into bankruptcy if the lender calls your bluff.

Are you an LLC?

Take a different position if your business was formed as a limited liability company and is solely responsible for the debt. Under this scenario the lender cannot come after you personally for the debt but can file a lawsuit against the LLC. If you are personally protected by the LLC, negotiate with the lender by offering only what the company can afford to pay. Review the LLC’s current financial situation with an accountant to determine how much you should offer. The lender may be willing to settle the debt for pennies on the dollar if it is an old debt. No matter the age, you should try settling for less than the full amount due if you have no personal liability,

What’s involved with corporate debt recovery?

Bad debt represents non-collectable customer accounts. It is otherwise known as doubtful debt. A company must reduce bad debt levels to improve working capital ratios. Working capital measures short-term liquidity and equals current assets minus current liabilities.

A firm must recover, or collect, corporate bad debt to improve profitability indicators, such as return on equity and gross margin. Return on equity equals net income over total revenue. Gross margin equals sales minus the cost of goods sold divided by total revenue.

To record debt recovery, an accountant debits the allowance for doubtful accounts and credits the cash account. In accounting parlance, debiting an asset account, such as cash or inventories, means increasing its balance.

An accountant reports bad debt expense in the statement of profit and loss, also referred to as the statement of income. He reports the recovery of bad debt in the balance sheet.