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Common Cash Flow Problems For Small Business (And How You Can Avoid Them)

Many small businesses fail within the first five years of operation and even more fail in the first 10. Up to 80% of those cases involve problems with managing cash flow.

The good news is that you can nix these cash flow problems and keep them from putting your startup out of business with the right financial strategies. Consider the following common cash flow pitfalls and how you can avoid them.

Overspending too soon

Entrepreneurs often use their own money to get their startup up and running. This makes it crucial not to overspend early on. Impulse purchases can easily break your business before it even goes anywhere.

You need to be able to differentiate between vendors and service providers that you need and those you don’t. Make a detailed budget and stick to it at all costs.

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Home Equity Loans Vs. Home Equity Line of Credit

Home equity loans are types of loans in which the borrower uses the equity of a home as collateral. The loan amount is then determined by the actual value of the property, which is in turn determined by an appraiser from the lending institution.

These loans are often used to finance major expenses including home repairs, medical bills, college educations, legal expenses, and pay back auto debt, which currently affects 43% of the entire adult population in the United States.

It’s important to note, however, that there are often extra payments and fees associated with equity loans. Here are some fees that could apply for home equity loans:

  • Appraisal fees
  • Annual or membership fees
  • Originator fees
  • Inactivity fees
  • Title fees
  • Early pay-off fees
  • Closing fees
  • Stamp duties
  • Arrangement fees
  • S...
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3 Money Management Tips For A Digital World

Money management is difficult for many people. As more and more spending happens digitally, it becomes increasingly more difficult to keep track of where your funds are going. There is nothing worse than thinking you have money in your checking account just to discover you have half as much as you expected. The more you utilize credit cards, debit cards, and even digital forms of payment like pay pal, the harder it is to balance your checkbook. Do you even have a checkbook? If that answer was no, this is probably information you need.

Money management used to involve sitting at a table with all your paperwork and receipts, figuring out how much money you should have left and what your budget was...

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Reasons for Selling Fixed Annuities

If you have won a lottery or lawsuit, the payout terms probably have you getting payments over a span of multiple decades. Big lotteries, like the Mega Millions, pay winners one big payment and then follow that with one yearly payment for about 29 years. For that lottery, each yearly payment is about 5% more than the payment that preceded it. These payments are taxed by the Internal Revenue Service the same way income is. If you need money sooner, you can withdraw some of it but there is a penalty. Many people find that they cannot afford to wait for their annuity payments. Many people choose selling fixed annuities rather than getting the payments over time.

This is a big decision. If you are considering selling fixed annuities, you should talk to a trusted financial advisor and go over y...

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