The Advantages of Saving Money

The ability to save for all the things you need will put you in a much better financial situation in the long-term. It will mean you pay less for whatever you are buying and places you in a less stressful situation. Mind you some borrowers just don’t care that they are in debt as long as they are able to pay it back.

The crunch comes when there is a job loss or some health issue arises and there is no money in the kitty to pay the bills.

A person who has set up their finances properly will factor in these types of emergencies in making their financial plan.

Saving money is a no-brainer; here are the five main reasons for not borrowing.

1 NO DEBT

Borrowing money for the things you need or want puts you in debt. It means that you are indebted to someone else. Sooner or later it all has to be paid back along with the interest. The debt is not going away until it is paid off so there is no point in burying your head in the sand if you are indebted to your creditors. Creditors have every right to expect repayment of their money whether they are the bank or other lending institution or a family member.

2 COST OF BORROWING

There is a cost attached to borrowing money and that cost is interest which is sometimes referred to as “Dead Money.” Paying interest on the stuff you buy on credit adds to the cost of the item. The habit of purchasing goods on credit adds up to a massive amount over the course of your lifetime. That interest money could have been used to build a nest egg. Commercial debt is the worst type of credit spending because the item which has been bought on credit loses its value as time goes by. Another name for commercial debt is dumb debt.

3 READY MONEY FOR EMERGENCIES

Emergencies crop up from time to time. The car breaks down, the washing machine needs repairing, you suffer a tooth ache and need to go to the dentist, you need a new pair of spectacles. There could be anyone for a number of reasons for financial emergency. If you have money set aside for these then you can tend to these emergencies without worrying about whether you have the money to pay for them. Every responsible person has an emergency fund on hand to cushion them against financial shocks which can occur from time to time.

4 A NEST EGG FOR THE FUTURE

Saving money means you are able to build up a nest egg for the future. If you are a responsible person you will have a retirement scheme of some kind where a portion of your pay goes into the fund. In New Zealand it is called Kiwisaver. I can not stress enough how important it is to be enrolled in Kiwisaver if you are from New Zealand. The government incentives make this scheme a no-brainer. Your country will have its own scheme with it’s benefits.

5 TAKE ADVANTAGE OF SPECIALS

If you have no money then you will not be able to take advantage of specials. That does not mean you should spend money on something for no other reason than it is special. Your own common sense and self-control should be employed here.

6 A DOLLAR SAVED IS A DOLLAR MADE

There is a saying that a dollar saved is a dollar made. The truth is a dollar saved is better than a dollar made because you do not pay tax on a dollar saved which is not the case when you make a dollar. Every dollar which you save can be working hard for you in whatever investment you place it in.

A competent money manager will not have any room in their vocabulary for such words as debt, credit, credit card, loan, lay-by, or hire purchase. In fact these are all dirty words to the person who wants to get financially ahead.

Having said all of this, there can be times when borrowing money can be worthwhile.

But…

And it is very big but.

You have to be absolutely sure that the payoff is worth your while.

Take a student loan for example; You need to be absolutely sure that the type of job which the course qualifications assist you with is something that you really want to do, otherwise the whole course will be a waste of time and money.

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Everything You Should Know When Buying a Phone System for Your Business

If you’re running your business, it is essential to focus on the right telephones this time. There are different things you have to consider when selecting a telephone system, and you should link up with the best telephone consultants. Several businesses need the best telephone system to ensure proper flow of communication and organization. Organizations are looking for ways they can spice up their customer service is every day.

It is hard to keep up with the latest technology, so you need to consult with the best phone system companies so you can get adequate advice. It is vital to be responsive when running a company so your customers can stay loyal to your brand. Most of the customers want the issue solved in a short time, which is why you should always focus on your customer service experience. There are different things small companies are trying to figure out, especially the type of phone system is ideal for the organization.

Most of the telephone system companies offer a variety of services; it is easy to get everything you need in one place. Having a telephone system is essential for customers will know they can reach you any time of the day, and you can assist them immediately. Before choosing a telephone system, it is essential to ask whether the company has worked with similar companies in the industry.

The telephone system company will have to do research on your customers so they can identify a system that works for your organization. It is essential to talk with the company so you can discuss the type of marketing strategies and end goals at the end of the day. Having a telephone system will save you a lot of money and time since you spend less on your marketing strategies.

It is essential to focus on the telephone system that is easy to operate and check whether you get training services from the company. Several organizations are looking for ways they can reach out to their customers 24/7, so they prefer a telephone system that will be available throughout the day. If you’re not going to be in the office on time you have to make sure you pick a phone system that is automated so customers will never lack response when they call.

You have to know whether you are considering a landline or voice-over-internet-protocol. Although several businesses are still using traditional business landlines, it is common for people to consider the VoIP phone systems since they are upgraded. The VoIP Phone system usually uses the internet to connect, and multiple companies profiled this system because it is affordable and easy-to-use.

Every phone system has different features, so it is essential to know how it will affect communication in the business. Most of the features you get from the phone systems include screening calls voicemail to text and voicemail services. You have to do your research to know the leading company in your country that provides excellent point systems. Most of the companies have a budget when purchasing a phone system, so it is important to talk to the dealer to know your options.

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