Personal Finance Questions and Answers

How do I find private investors?

What's the easiest way to find private investors within my area for a small business startup? I most expected wouldn't get approved for a big enough loan, because I want business ownership/management experience, collateral, and cash.


Answers: You are unlikely to find investors unless you also manufacture an investment. To find private investors, you first have to prepare a correct business plan that you can show to them. Once you have the business plan, you can hype under business opportunity in your local dissertation and on craigslist.com.

To prepare a good business plan also take an investment, if not surrounded by money, at least contained by time. If you don't know how to prepare a good business plan, various consultants exist who can help you. Depending on the business and the extend of the plan required, it may cost anywhere from $1-2,000 to $40-50,000.
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Have you got into bad debt and have nothing to show for it?




Answers: I have been doing this all my life but having had a close family member die recently, i have decided that f*ck it... you only get one life, so enjoy x x x
Now. I was avoiding going to any debt, unless Im pretty sure I have money to pay for it. But when someone offered to get this and pay it when able, who could resist and I didnt. Right?
Anyway, I dont know when I will have a money and its been like 3 weeks already and I dont like the feeling of I owe someone.
:)
Guess will have to pay it somehow the sooner the better. Maybe tomorrow.
yes i got divorced. left with 2 children and x did a bunk so have to pay joint debt until courts can find him to get the creditors off my back. no maintenance payments to help either

Whats a upright guideline for how much to save contained by your checking description beforehand moving it to nest egg?

I have my checking reason at a regular bank and my stash account near another bank (mainly because of difficult interest rates). I'm curious to hear opinions as to how much I should continue in my checking picture (above what is needed to pay the bills) previously moving it off to my nest egg account or other investment.

I realize everyone's situation is different so an actual dollar amount is probably meaningless. I'm looking for a standard guide line such as an amount equal to the largest check you write respectively month or something like that. For what it's worth, I pay envelope my largest bill (rent) with a money establish because the checks often embezzle 3 weeks to clear.


Answers: Generally speaking, the so called rule of thumb is to set aside, reclaim, and invest 10% of your earnings/net pay. I used to drill a personal finance class and adjectives of the reviewed and widely accepted proposal says something along the following:

First you call for to set aside a minimum of 10% of your earnings to a funds account until you own enough set aside to sustain you, contained by the event you became redundant, for 6 months. In other words, your readily accessible savings should equal 6 months network pay. After you enjoy an amount equal to 6 months net rate in a funds account or compact disc that's easily accessible, you should verbs setting aside 10% or more into investment accounts/vehicles (401k is a great thing for this if available because it reduce your taxation) to save for eventual retirement.

This is probably more info than you asked for, but it is what we instruct. Btw, your checking account is really nil more than a easy finances to pay bills and label discretionary purchases. A checking account could really purely be considered a "convenience" account. Hope it help.
Let me answer with an extreme example.

My paycheck is auto deposited into a 4% money account. I later move the money from savings to a 0% checking within time to cover the check I wrote to pay a bill.

This example indicates your checking set off should be $0 after the bills are paid. Get the "extra" money out of the checking information and into something that pays interest. Then the interest bearing vindication can be used for saving for retirement or building an emergency fund.

Just plan assiduous enough that you don't miss a verbs in time to cover a check you wrote - one insufficient fund charge can slickly offset your 4% interest you've be earning!

My rule of thumb is this: one month's of bills. If you "capture ahead" one month on paper, afterwards you know you'll always cover your checks. This later becomes a one-time loss of earn interest, but it gives you that cushion. Consider a two-week amount if your bills are correctly level or base on how often you draw from paid (weekly, bi-weekly).

Hopefully I've given some planning to consider.

Good question...it shows you are thinking.

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