How to Avoid Paying High Interest on Your Credit Card

Are you anxious whenever you receive your monthly credit card statement? The interest rate imposed could be bolstering your credit card payable significantly. This should not surprise you. Through the years, high rates imposed on plastic cards have always been blamed for consumers’ uncontrollable credit card indebtedness.
You should be aware, though, that you could always avoid paying high interest on your credit card. You could never possibly force your credit card company to impose lower rates. But you could control your spending so you would not incur the fees.

Have you considered not using your plastic card at all? You would not be charged with high interest payment if you do not incur any card balance. However, if you rely on the convenience of using the product (especially on online transactions) you may not have to dispose your card. You could still avoid paying high interest fees. Here are some other ways.

Do not use your card for making hefty and highly expensive purchases if you do not intend to repay the amount right away. Experts always advise consumers to settle their monthly credit card bills in full so that no amount would be left in the balance and no interest payment would be required further. Control your spending. Buy only those items that you could afford to pay in full.

It is always tempting to settle just the minimum required payment each month. In reality, it is not advisable. If you want to avoid paying high interest rates, you would not settle your credit card bill partially. Paying in full may hurt in the pocket but in the long run it is much more practical and logical. Long-term costs of maintaining credit card balance could be staggering. Remember that interest rates imposed are often in double digits. Think about how much money you are charged for interest payment each month.

Know your credit card balance statement cut-off. On or after that cut-off date, the credit card company imposes interest charges and other fees. If you could settle your credit card purchases before that date, you would not be charged for any interest or fee at all. This is strategic although it may require great discipline and more monitoring. To do so, record each card transaction you make. Get the total amount before the cut-off date and immediately settle it.

It could be advisable to set a lower credit card spending limit so you could resist the temptation to overspend. Always be mindful of your card purchases. Lastly, do not make delayed payments as doing so would make you incur more charges from penalties.

Credit cards could be helpful and convenient especially if you are fond of online shopping and cashless physical transactions. However, be always mindful of the high interest rates and fees imposed by credit card firms. If you could avoid incurring high interest payments on your cards, you could be sure you would be spared from possible credit card troubles in the future.

Andrew has been working in the credit industry for several years. He has spent most of his time helping people to consolidate credit cards and refinance their debts.

5 Tips to Move Up the Property Ladder

Property can be a profitable and solid investment, but no investment, no matter how safe, makes you the best return without you managing it. One way to manage your property investment and improve your return is to move up the property ladder. Whether you have a designated investment property portfolio, or you simply want to improve the prospects of the investment you’ve made in your residential home, following are five tips to help you make that move successfully:


1. Renovator’s delight

Often a real estate agent’s euphemism for ‘the place is a mess’ looking for a property which needs some renovation can in fact help you move up the property ladder, and a renovator’s delight is not the backwards step it may first appear to be.

When you purchase a property which needs some renovation, you have a good chance to increase the property’s value. This means you can either obtain a higher price than you paid when you sell the property to make a fairly quick profit, or you can stay in the property and build or access the equity for further improvements or to fund other family expenses.

Always remember that a renovator’s delight is going to cost you a lot of money before it can start making you any money, so to ensure this really is a step up the property ladder, you will need to have a sufficiently stable financial base to work from.

2. Don’t move

This may seem like contrary advice since you want to move up the ladder, but this doesn’t always require a physical move. Actually moving house costs a lot of money, not only in the costs of moving trucks, boxes and days off work, but also in bank fees, legal fees and home transfer costs. Therefore, the best way to move up the property ladder may be to advance in the property market by making very calculated and carefully researched moves, rather than regular moves just to see some perceived advancement.

3. Choose an up and coming area

You can also make a strong move up the property ladder by buying in an upcoming area. It is accepted knowledge that location is everything when it comes to the value of a property and if you can buy in a neighbourhood which is turning over, and is near the city or the sea you’ll be able to get in at the old prices, and enjoy the revamp to the new look, and more highly valued, suburb.

4. Know the market

Just as not moving can actually help you improve your position on the property ladder, so too can knowing the right move to make in the current market. For example, in a seller’s market there will be a high demand for property, and more people buying that there are people selling. This is great when you need to sell your existing house, but not so great when it comes to buying your next house on the way up the ladder. Therefore, if you are moving up the property ladder in a seller’s market make sure you negotiate with the people buying your house that the sale is subject to you finding and closing the sale on your new house.

In a buyer’s market there are more properties on the market than there are people buying and this means that you should be able pick up a new property at a bargain price as many sellers will be having trouble shifting their homes. Unfortunately you’ll be one of those sellers too, so again, make sure you sign the contract on your new house subject to you selling your old one.

5. Get the best price for your old property

Being able to successfully move up the rungs of the property ladder takes great financial means and security and some of the best financial backing you can have is from your previous property. The more you can sell your old property for, the better placed you will be to move onto your next successful venture. This means taking the time and making the effort to fix up your old home to make it as appealing as possible to potential buyers. Making minor investments in the garden, a new coat of paint or updated flooring can mean you are in a strong position to move to the next rung.

Alban has been writing articles on real estate for the last 3 years.When he is not blogging, he offers tips on personal loans.

Five Simple Ways to Reduce Your Household Spending

When money gets tight just about everybody starts looking for ways to save some of it. If there’s no increase in household income, finding ways to cut back is in order. This likely will mean changing several different spending habits.

Cutting back

There are a lot of extravagances that can be eliminated during hard times. All family members should take a careful look at some of the expenses they incur. Here are five examples of ways for a family to cut expenses.

1. Energy efficiency – Turn the thermostat back 10-15 degrees for up to eight hours a day, usually when no one is home. This can save up to 10 percent on the annual heating bill. In addition, install CFL light bulbs throughout the house which also use less electricity while providing the same amount of light. CFLs also last longer, meaning replacements are bought less often.

2. Avoid paying full price – Look for clearance deals before or after certain holidays. Plan ahead for what will be needed and avoid spur-of-the-moment shopping decisions which almost always result in paying full price. Look for off-season deals when considering travel. Hotels and airlines frequently offer discounted rates during off-season or even just before or after peak tourist season. During slow times, resorts often offer special deals that may include additional amenities.

3. At the grocery – Clip coupons from the local newspaper for items that are frequently used by the family. If the coupons can be matched up with sale items, the savings are even bigger. Have meal plans in mind when shopping for groceries and stick to the items that are needed for these meals. Purchase items that can be used to make lunches for work rather than buying out every day.

4. Maintain equipment – Don’t skip regular maintenance updates on vehicles. Replacing an engine because the oil wasn’t changed when it should have been is a lot more expensive than the oil change. Keeping the engine tuned and the tires properly inflated can increase gas mileage.

5. Make cuts – Go to the local library to borrow books, movies or CDs instead of buying them or renting them from a store. Stop paying a monthly gym fee and find ways to exercise at home. That local library may have workout videos to borrow or at the very least fitness magazines. Some cable providers offer free exercise videos on demand. Instead of buying premium coffee on the way to work, buy regular. The savings will quickly add up over time

There are opportunities nearly every day for a family to save money but most of them won’t really negatively impact how the family operates. Saving money will open up other opportunities. It might require a change of some habits but will be well worth it to gain financial freedom.

This is a guest article from Christina Lloyd, who has managed to decrease her household spending using these simple tips. She writes for a website about education grants that offers helpful advice on grants for disabled students and sources of financial aid for all students.

How to Get a Better Credit Score?

Many people don’t know what their credit score is until it impacts their ability to get a good interest rate on a loan. Some employers also look at the credit rating of prospective new hires. Boosting a credit score into the 760 range, which is good, is not as impossible as it may seem at first.

Tips on boosting credit scores

Whether a credit rating has been lowered through a few missed payments when money was tight or someone wants to raise it in order to get the best terms on a loan, a good score is attainable through a little work.

Pay down balances – It might seem simple, but paying down account balances is one of the best ways to improve credit scores. About one third of the rating is based on the amount that is owed on an account compared to the available limit. Try to keep the amount owed to less than 30 percent of the available credit. If necessary, pay more on the cards with higher balances to get them lower.

Own different types of credit – Credit bureaus will take into account seeing that someone can manage a variety of types of credit. This means credit cards, store cards and payments such as a mortgage or car loan.

Keep accounts open – Once an account is paid off it may seem like the right thing to do to close it so the temptation is not there. This can negatively impact credit scores, though. The longer an account is open with no late payments the better it appears to credit adjustors.

Avoid applying for new credit – Every time someone applies for a new credit account, an inquiry is added to their report which often causes their score to drop a little bit. A new account raises questions because there is no track record as to how it will be managed.

Be cautious with use – Even if the monthly bills are paid on time, running up high balances can lower credit ratings. If more than one credit card is owned it is be better to spread the balances out among them.

Correct errors – Get a copy of the credit report and review it for any possible errors. If any are found, work to get them corrected immediately. This can include late payments listed that did not occur or account limits being reduced when they shouldn’t have been. Documentation likely will be needed to successfully challenge these errors.

Pay on time – The most important way to improve credit rating is to pay bills on time. If paying on time hasn’t been done on a regular basis start doing it as soon as possible.

A poor credit rating isn’t developed overnight and boosting it won’t happen that fast either. Getting started is the important thing. A person’s credit score can impact many aspects of their life and achieving the best rating possible will help improve their financial situation in the long run.

Guest author Christina Lloyd writes for a school grants website, which has advice on all types of free grants, including grants for American Indians and other minority groups.

4 Tips for Exploding your Internet Marketing Business Now

There are a number of different types of businesses that you could run on the internet and make a profit off of. 

You can easily find information on all these businesses to include those that sell physical products, those that market information and those that offer services to other business. There are also auction businesses or click businesses and a lot more.

Here is a list of those that can be the most profitable in my estimation;

1.       Affiliate Marketing – this is by far the easiest type of online business to run. You can have your business without a product or a website.

All you need to do is promote the affiliate link to make sales for the company and get your commission checks.

2.      Service Marketing – there are a number of services you can sell online to include web development, graphic design and even writing services.

These are some of the services that are in high demand online these days. And you don’t need a website to market yourself you can use websites such as Get A Freelancer or Elance.

3.      Product Marketing – this doesn’t mean a physical product. It can mean an eBook or other type information product that you can sell to consumers or wholesalers who can then resell it.

These are very profitable since there are no shipping costs involved and you have no stock to replenish.

4.      Selling Advertising – If you have a website that has a lot of traffic you can sell advertising space on your website. Apart from that you can also have AdSense ads placed on your website.

With this method though you have to continually be driving traffic to your website to ensure that you are getting the sales that will be your income.

How To Make Money Recycling Cell Phones

Author: Hunter Crowell

Cell phones are quickly becoming an environmental problem, old and broken phones are discarded and thrown away that contain very hazardous materials that could harm our health and even the environment. In line with this there has been a new and rising business today. Buying and selling of old and damaged cell phones. A trend continues today as the average U.S. consumer replaces their cell phone every 18 months. Americans retire an estimated 130 million cell phones each year, only a fraction of which are reused or recycled. which means there is an accumulation of unused and old cell phones in garbage dump sites and land fills.

Awareness to the hazardous contents of these cell phones is now very widespread that is why conservation of the environment and the recycling of these waste products are now on the rise. Businesses around these products are also on the rise, as many companies today are willing to buy your old cell phones, even those that are already damaged and broken. They clear up all the info in your cell phones and fix it all up then repackage and sell them again. Cell phones that were unable to be refurbished are dismantled and recycled for some metals that are found in them namely, Gold and Silver from circuit boards, copper wiring from phone chargers, nickel, iron, cadmium and lead from battery packs and plastics form cases and phone accessories.

You too can start out and make money from this growing industry. Start out with an old or used cell phone collection drive. Or buy them from your neighbors and friends for a cheap price and sell them to the companies that recycle them. Many websites are now popping up to buy your cell phones, use these programs to earn extra money. Many of these programs even send out free shipping envelopes so you could send them your cell phones at absolutely free of charge. This is the type of business that can be both profitable and good for the environment.

Another option is to invest in various recycling bins that can be placed at various locations across your town or city. Some locations would be in malls, colleges and universities. Downtown locations close to a large population of office workers could also be a prime location for cell phone recycling bins. Once these bins are in place a marketing campaign educating people about the benefits of recycling their cell phones would help get people using them. Partnering with a charity could also help attract users, you could give a percentages of the profits to the charity.
Article Source: http://www.articlesbase.com/business-opportunities-articles/how-to-make-money-recycling-cell-phones-364936.html
About the Author

Hunter Crowell is a researcher, avid money maker, and creator of Cell Phone Recycling Business, a web page setup to help recyclers earn cash. http://www.make-money-explained.info/cellphonerecycling.html

Doctor's Salary—How Much Does A Doctor Get Paid?

Author: kimberly valerio

If people were to be honest about it, we could easily see how many of us wonder how much their doctor gets paid, especially after they shell out hundreds of dollars for a session with them. Now, not all doctors get paid as in a salary format—they take fees from their clients—but still the meaning is the same. When doctors work with bigger organizations, they do get their salaries, while those in private practice seek fees. Whatever be the case, we know that the figure is stupendous. So, what does a normal doctor's salary or, rather, doctor's income look like?

The typical doctor's earnings depend on the kind of specialization they are in. If the doctor deals with a more sophisticated part of the body or bodily system, then they make more money. But, even a general physician, which most people consider is the easiest of all doctor professions, makes a significant amount of money.

The general physician, who is usually called as a family doctor, may earn in the vicinity of $150,000 a year. On the distaff side, there's the doctor who deals with something more sophisticated—the cancer specialist, also known as oncologist. Understandably, the oncologist makes a huge income, which is around $270,000 a year. You could consider that these are the lowest and highest doctor's salaries. All other doctors make somewhere within this range.

Doctors who dispense internal medicine earn somewhat higher than the family doctor, around $160,000. An endocrinologist, who looks into hormonal problems, earns a little higher than this too, around $170,000. Next in line is a neurologist who earns about $200,000. However, there are many other kinds of doctors who earn somewhere around these ballpark figures.

Then there are doctors who look at specific types of people. A doctor specializing in children's ailments, i.e. a pediatrician would earn around $165,000 a year, while a gynecologist could earn around $175,000. This is also the usual salary of a doctor who deals with geriatric problems. Rheumatologists also fall in the same line.

Some specialized doctors make better incomes than these. A pulmonary specialist, i.e. a doctor who deals with lung and respiratory problems earns around $220,000.

However, these doctor's salaries are mostly indicative figure and not specific. There are many factors that can influence a doctor's salary. The time that a doctor puts in working is an important factor. The figures mentioned here assume that the doctor works for 80 hours a week. For a doctor who is into private practice, the number of hours put in won't really matter. What becomes more important there is the number of patients that the doctor is able to attend to in a day.

The doctor's qualification and experience are also of significance. If the doctor has better qualifications and has been working for a long number of years, people trust them more and they can also demand better payment from their patients. In some cases, the methods that the doctor uses also influence their salary. For instance, an eye doctor who uses traditional methods of eye surgery will make lesser money than a doctor who uses new laser techniques for painless treatment.
Article Source: http://www.articlesbase.com/business-opportunities-articles/doctor039s-salaryhow-much-does-a-doctor-get-paid-1923112.html
About the Author

Oliver Kwok is the author of http://www.nurse-practitioner-programs.net and also writes about Nurse Practitioner Programs

Selling Blood is Big Business

Author: Flor Ayag

RED GOLD! As the nickname implies, this is one highly valued substance. It is a precious fluid, a crucial natural resource that has been compared not only to gold but also to oil and coal. However, red gold is not mined from veins in the rocks with drills and dynamite. It is mined from the veins of people by much subtler means.

Please, my little girl needs blood, implores a billboard that looms over a busy avenue in New York City. Other advertisements urge: If you’re a donor, you’re the type this world can’t live without. Your blood counts. Lend an arm.

People who want to help others evidently do get the message. They line up in droves, worldwide. No doubt most of them, as well as the people collecting the blood and the people transfusing the blood, sincerely want to help the afflicted and believe that they are doing so.

But after blood is donated and before it is transfused, it passes through more hands and undergoes more procedures than most of us realize. Like gold, blood inspires greed. It may be sold at a profit and then resold at a larger profit. Some people fight over the rights to collect blood, they sell it at exorbitant prices, they make fortunes from it, and they even smuggle it from one country to another. The world over, selling blood is big business.

In the United States, donors were once paid outright for their blood. But in 1971 British author Richard Titmuss charged that by thus luring the poor and sick to donate blood for the sake of a few dollars, the American system was unsafe. He also argued that it was immoral for people to profit from giving their blood to help others. His attack prompted an end to the paying of whole-blood donors in the United States (although the system still thrives in some lands). Yet, that did not make the blood market any less profitable. Why?

How Blood Remained Profitable

In the 1940’s, scientists began to separate blood into its components. The process, now called fractionation, makes blood an even more lucrative business. How? Well, consider: When dismantled and its parts sold, a late-model car may be worth up to five times its value when intact. Similarly, blood is worth much more when it is divided up and its components are sold separately.

Plasma, which makes up about half of the blood’s total volume, is an especially profitable blood component. Since plasma has none of the cellular blood parts—red cells, white cells, and platelets—it can be dried and stored. Furthermore, a donor is allowed to give whole blood only five times a year, but he can give plasma up to twice a week by undergoing plasmapheresis. In this process, whole blood is extracted, the plasma separated, and then the cellular components are reinfused into the donor.

The United States still allows donors to be paid for their plasma. Moreover, that country permits donors to give about four times more plasma annually than the World Health Organization recommends! Little wonder, then, that the United States collects over 60 percent of the world’s plasma supply. All that plasma in itself is worth about $450 million, but it fetches much more on the market because plasma too can be separated into various ingredients. Worldwide, plasma is the basis for a $2,000,000,000-a-year industry!

Japan, according to the newspaper Mainichi Shimbun, consumes about a third of the world’s plasma. That country imports 96 percent of this blood component, most of it from the United States. Critics within Japan have called that country the vampire of the world, and the Japanese Health and Welfare Ministry has tried to clamp down on the trade, saying that it is unreasonable to profit from blood. In fact, the Ministry charges that medical institutions in Japan make some $200,000,000 in profits each year from just one plasma component, albumin.

The Federal Republic of Germany consumes more blood products than the rest of Europe combined, more per person than any country in the world. The book Zum Beispiel Blut (For Instance, Blood) says of blood products: Over half is imported, mainly from the U.S.A., but also from the Third World. In any case from the poor, who want to improve their income by donating plasma. Some of these poor people sell so much of their blood that they die from blood loss.

Many commercial plasma-centers are strategically located in low-income areas or along the borders of poorer countries. They draw the impoverished and the derelicts, who are all too willing to trade plasma for money and have ample reason to give more than they should or to conceal any illnesses they might harbor. Such plasma traffic has arisen in 25 countries around the world. As soon as it is stopped in one country, it springs up in another. Bribery of officials as well as smuggling is not uncommon.

Profit in the Nonprofit Realm

But nonprofit blood banks have also come under harsh criticism lately. In 1986 reporter Andrea Rock charged in Money magazine that a unit of blood costs the blood banks $57.50 to collect from donors, that it costs the hospitals $88.00 to buy it from the blood banks, and that it costs patients from $375 to $600 to receive it in a transfusion.

Has the situation changed since then? In September 1989 reporter Gilbert M. Gaul of The Philadelphia Inquirer wrote a series of newspaper articles on the U.S. blood-banking system. After a yearlong investigation, he reported that some blood banks beg people to donate blood and then turn around and sell as much as half of that blood to other blood centers, at a considerable profit. Gaul estimated that blood banks trade about a million pints [half a million liters] of blood every year in this way, in a shadowy $50,000,000-a-year market that functions somewhat like a stock exchange.

A key difference, though: This blood exchange is not monitored by the government. No one can measure the exact extent of it, let alone regulate its prices. And many blood donors know nothing about it. People are being fooled, one retired blood banker told The Philadelphia Inquirer. Nobody is telling them that their blood is going to us. They would be furious if they knew about it. A Red Cross official put it succinctly: Blood bankers have for years fooled the American public.

In the United States alone, blood banks collect some 13.5 million pints [6.5 million L] of blood every year, and they sell over 30 million units of blood products for about a thousand million dollars. This is a tremendous amount of money. Blood banks don’t use the term profit. They prefer the phrase excesses over expenses. The Red Cross, for instance, made $300 million in excesses over expenses from 1980 to 1987.

The blood banks protest that they are nonprofit organizations. They claim that unlike big corporations on Wall Street, their money does not go to stockholders. But if the Red Cross did have shareholders, it would be ranked among the most profitable corporations in the United States, such as General Motors. And blood-bank officials do have handsome salaries. Of officials in 62 blood banks surveyed by The Philadelphia Inquirer, 25 percent made over $100,000 a year. Some made more than twice that much.

Blood bankers also claim that they do not sell the blood they collect—they only charge processing fees. One blood banker retorts to that claim: It drives me crazy when the Red Cross says it doesn’t sell blood. That’s like the supermarket saying they’re only charging you for the carton, not the milk.
Article Source: http://www.articlesbase.com/business-opportunities-articles/selling-blood-is-big-business-713104.html
About the Author

Would you like to get free Hollywood sexy actress wallpaper and Beautifull Picture in around the world.

How To Make Money Taking Pictures

Author: Hunter Crowell

When you first get a digital camera, the excitement is something akin to when you saw your first printed photograph. Right there in your hands, a little piece of time destined for immortality. The better Digital cameras have a lot over the film cameras, too - if you have a preview window, you're able to instantly see the quality of your shot. No more wasted money on prints that you know will end up in the trash.

The good news is that your passion can earn you a bit of extra money - you can put all your practice and the goodies you've spent on to work for you. From magazines to stock photography sites to postcard printers, there are a lot of people out there willing to pay you for your hobby. All you have to do is make sure you know how to sell - and make sure you're sending in quality photos. Magazines should be the main place you try to get your photos sold to, because they will pay you the highest rates and are the most likely to buy from a freelance or hobbyist photographer.

To begin selling to magazines, hit your grocery store and pick up 3-5 magazines that you enjoy the look of. Then, sit down and really study the photos that they include with their articles. Pinpoint the style of photography that the magazine uses most often - and honestly decide whether your style matches that, or if you could easily match it.

When you have found a magazine that fits well with your photography, send a few samples of your photography (make sure to keep originals or digital copies on your computer!) and a self-addressed stamped envelope (SASE) to the photo editor. Then, sit back and wait ... do not send those same photos to another magazine until you've heard back from the first. It's tempting, but if the first magazine accepts them, you'll have a whole mess of trouble to deal with.

Another option is to work with a stock photography company (or two). There are currently several very successful stock photography websites online that allow photographers to sign up for free and upload their photos for sell. If this is the option you choose, make sure that your photos are the highest resolution possible, and consider creating several resolutions. Your work will have serious competition, so also be sure that you're showcasing the most creative work you have. Finally, seriously consider the keywords you use. Stock photo websites work off of keywords - potential customers will search for a concept, a phrase, or a type of photo and you want to pull up in relevant results.
Article Source: http://www.articlesbase.com/business-opportunities-articles/how-to-make-money-taking-pictures-263824.html
About the Author

Hunter Crowell is a researcher, avid money maker, and creator of How To Make Money With Your Digital Camera, a web page setup to help digital camera owners. http://www.make-money-explained.info/digitalcamera.html

Shipbuilding Industry in India

Author: Charanya Krishnan

SHIPBUILDING INDUSTRY IN INDIA – AN OVERVEIW

- by Charanya Krishnan

Background:
Shipbuilding (encompassing shipyards, the marine equipment manufacturers and a large number of service and knowledge providers) is an important and strategic industry in a number of countries around the world. This importance stems from the fact a nation's need to manufacture and repair its own Navy and vessels that support its primary industries.
This paper presents a brief overview of the shipbuilding industry in India and the possible challenges and opportunities that Indian companies could enjoy in the future.

The Uniqueness of Shipbuilding sector:

§ The shipbuilding industry has its own distinctive feature as compared to other industries in the country. It is unique in a way that it has to sell first and construct later, unlike the auto industry or others, where one manufactures first and sells later.
§ Further shipyards get orders only if they are credible (deliver quality ships on time) and it can be credible only after successfully executing consistently under international competition.
§ Further, subjoined, it has to be globally competitive against the best yards in the world. Unfortunately, the shipyards are faced with very stiff taxes, tariff, duties, and financing charges as compared to foreign yards.
§ The deliverables of the sector involves long gestation periods and requires high cost finances over a long period.

Global Scenario:

Globally shipbuilding is a USD 20 billion industry. The global shipbuilidng order book recorded a 29% CAGR over the period of 2003 – 06. An upward trend has been witnessed in the world order book as a percentage of worldfleet indicating a strong demand outlook.

Fortunes of shipping and shipbuilding industries seem to be linked to each other or at least move in tandem. For nearly three decades in the post World War II era, both the industries were dominated by European nations and United States. Historically, shipbuilding industry suffered from the absence of global rules and a tendency of over-investment due to the fact that shipyards offer a wide range of technologies, employ a significant number of workers and generate foreign currency income (as the shipbuilding market is dollar-based and a global one).

However, high labour costs in the yards of Europe and USA, one of the major determinants in this cost competitive industry, has led to a gradual shift of the center of shipbuilding to these Asian nations over the last two decades.

Today shipbuilding has become an attractive industry for developing nations. Japan used shipbuilding in the 1950s and 1960s to rebuild its industrial structure, Korea made shipbuilding a strategic industry in the 1970s and China is now in the process to repeat these models with large state-supported investments in this industry.

The tidal shift in shipbuilding activities, from Europe to Asia, has opened up huge opportunities for Indian yards, and both public and private ship-builders are capitalizing on them

Indian Scenario:

With global shipping industry pitching for an unprecedented demand for new shipbuilding , a
window of opportunity which was not available earlier, has been created for the Indian shipbuilding industry.

The Indian shipbuilding industry had always been dogged by low capacity, poor productivity and lack of modernisation. Thanks to the gradual shift of shipbuilding from Europe to Asia, today contrary to expectations the Indian Shipbuilidng order books stand at 1.3 million DWT. This has been possible on account of the shipbuilding boom and both foreign/Indian Shipping Companies are coming forward to place new building orders on Indian Yards. This has enabled the industry's order books to grow from Rs 1500 crs in 2002 to Rs 14,000 crs (roughly 3060 m $) in 2006


The Indian shipbuilding industry is on a high growth trajectory and is expected to grow at a compounded growth of 30%. Though India has not yet become a significant player in the global shipbuilding business, it has gained a strong foothold in the niche offshore segment.

India's share in the world market has gone from an insignificant low of 0.1% in the beginning of 10th Plan to 1.3% in 2006. Hence from an an inward looking industry dependent on government orders, the Indian shipbuilding industry is emerging as internationally competitive export led industry.

Nevertheless, the industry is still in its nascent stage and dependent on government support for subsidy. The industry is expected to become self sufficient in 10 years time and will no longer require subsidy thereafter. It is clear from the above that India can grow in the shipbuilding sector
in a healthy manner if shipbuilding is recognized as a strategic industry and if it can enjoy simple taxation policies with a fully empowered regulating body for quick decision-making .

Tracking India's performance:

India has 23 shipyards, of which 7 are under administrative control of the central government, 2 with state governments, and the rest in the private sector.

The current shipbuilding capacity of India is only 2,81,000 DWT, which is quite undersized according to global shipbuilding standards, and inadequate given the country's requirements. A comparison of productivity shows that while China may be well ahead of India in total ship building, it's productivity is almost the same as India and this is one area that India can take a lead on the strength of its IT industry and setting up new modern shipyards.

Country Completions M DWT Employees Productivity DWT Person
Japan (2004) 23.2 80,000 290
Korea (2004) 23 71,800 320
China (2004) 8.8 158,000 56
India (2006) 0.6 12,000 50

Comparing India and China:

A comparison of productivity between India and china shows that while China may be well ahead of India in total ship building, it's productivity is almost the same as India and this is one area that India can take a lead on the strength of its IT industry and setting up new modern shipyards.

China India
Shipbuilding & Repair Yards 492 28
Manufacture of Equipment 148 Not Known
No of Employees 2,87,702 (total industry) 12,000
Orderbook 40 m DWT 1.3m DWT
Global share 19 - 20% 1%

China has been gaining almost 2% of the world's share every year. India has a lot of catching up to do.

The growth of Chinese shipbuilding industry is now becoming a threat to almost all major shipbuilding nations as China is planning to become the leading shipbuilding nation with an aim to corner more than 30% global share by 2015. India is probably the only country that will be able to match the Chinese prices with its relatively low labour costs and industrial base for manufacture of equipment.

The fact however remains that India's contribution is tending towards being a significant component in the global shipbuilding industry and that we need to get our act together to use this very promising window of opportunity. With the exponential growth in the number of ships calling on Indian ports, providing ship-repair facilities is becoming an increasingly attractive opportunity. Not only does ship-repair and building activity help generate substantial local jobs, it also builds the capacity of local industry.

Stakeholders in Indian Shipbuilding sector:

Government:
§ FDI: the government has permitted 100% FDI in shipbuilding and ship repair activity
§ Investments: the government has proposed to invest INR 71.95 billion in the shipbuilding industry, towards the modernization of infrastructure and development of a research design base
§ XI plan outlay:
Name of shipyards/schemes Government Budgetary Support (INR million) Internal and External Budgetary Support Total
Cochin Shipyards 400 5,500 5900
Setting up of two International size Shipyards 15,000 15,000 30,000
R&D schemes in Shipbuilding 2,018 NA 2,018
Conducing Studies 190 NA 190
Total 20,608 23,520 44,128
Private Players:
Indian corporates and shipyards plan to invest over 170 billion INR over the next 5-7 years that has the potential to take india's share to over 3% to 5% of global shipbuilding.
Indian business is convinced that India has a major comparative advantage in ship-building that has been masked all these years by an inefficient public sector notorious for high costs and time overruns. The labour cost per worker in India is estimated at $1,192 per year, against $10,743 and $21,317 per worker in leading shipbuilding countries like South Korea and Singapore. Apart from skilled welders and fitters, India has world-class naval engineers and architects. These, along with top-class management,
can make India a global power.

Watching the Indian Shipbuilding Market:
Key players:

Key issues and challenges:


The Indian Government has been trying various promotional and subsidy measures since the 70's which managed to keep the industry alive at a time when the global industry was passing through a deep recession after the boom of the 70's which, the country missed due to lack of industrial growth.

The shipbuilding industry is now witnessing a growth phase after a gap of almost 25 years. This is an opportunity for India to revive its shipping industry and bring it at par with the rest of the world.
It is essential for India to put together strategies, which could lead to optimal and effective contribution towards the global shipbuilding industry. Infact the time is just ripe for India to carve a niche in this sector. However in order to achieve this objective, it would be imperative to address concern areas which could be detrimental to the future progress of the sector:

Procedure governing subsidy support: with Indian shipyards suffering systemic and scale disadvantages, the policy of GOI to extend subsidy support to Indian shipbuilders enabled them to effectively compete in the global market. However, after expiry of the subsidy scheme, even as its renewal is under construction, there is a need to ensure that that prescriptive procedures governing eligibility to receive subsidy are removed. These include necessity to win an order through international bidding or certification from the ship owner that the bid process had been followed before selecting the Indian shipyard, which effectively ensure that the benefits of the subsidy scheme are not realized by the private ship-owners as most of their ship building orders are through negotiations

Deficient infrastructure: Indian yards lack the capability to build large and modern ships. Presently, the Cochin shipyard is the only one that has the capability to build large and modern ships. While the government has provided subsidies to shipyards but it has to ensure that the benefits reach the private players as well

Disadvantages accruing from small scale of operations: the shipbuilding sector in China and South Korea have received government fiscal and policy support, enabling them to develop scale as well as a cluster of ancillaries. These advantages of scale are not available to Indian shipbuilding industry, which imports most of its input materials and is therefore unable to leverage advantages offered by bulk purchases and Just in Time supplies. As a result there is significant cost disadvantages on account of import dependence which eat into low labor cost advantages of Indian shipbuilders.

Lack of ship design and limited investment in R&D: Indian players need to work hard to meet the international players in ship automation and technology

Benchmarking it to international standards: The Indian shipbuilders must focus on benchmarking their own processes to international standards to improve the efficiency, delivery time, price and quality, which will in turn, will enhance the competitiveness of the shipbuilding sector. Measures such as performance incentives, PPP models, etc could be introduced to improve efficiency.

Supporting the growth of ancillary industries: Ancillaries need to develop along with the shipbuilding industry as they are the key competitive differentiator for establishing/relocating shipbuilding and shiprepair facilities. A cluster development approach for building ancillary capacity could be adopted.

Training and human skills issues: Development of training programs in various academies to produce high quality talent should be prime focus

No tariff protection from imports

Multiple clearances: As the industry Is dynamic and cyclical in nature these clearances result in procedural delays and hampers augmentation of capacity

(a) Presently there is no supervisory Authority/Apex body

(b) High customs and excise Duty on capital investment: The government levies 35% duty on all capital equipments such as cranes, plasma cutting machines, and other material handling equipment purchased for running a shipyard

(c) Duty on sale of ships to Indian Shipping Companies: The materials and parts imported for building ships are exempted from payment of custom duties but these ships once built are treated as imported ships and a custom duty of 5.0% is levied on them

(d) Onerous Tax Structure: Indian shipyards are subject to 19 different taxes/ duties. These taxes cumulatively put Indian shipyards at a disadvantage and diminish their cost competitive as compared to the international players

Growth Enablers:

The growth in overall trade, increase in offshore drilling activity, and demand from the naval force and coastal guards are the key growth drivers for the Indian shipbuilding industry.

Leveraging labor cost advantage: In India, labor cost per worker per year of USD 1,192 is very low, when compared with USD 10,743 and USD 21,317 in South Korea and Singapore respectively

Offshore segment: As the proven oil and gas reserves are likely to meet the global energy requirements only till 2030, there is increased exploration and production (E&P) activity, particularly in the offshore segment. This is expected to drive the demand for OSVs.



Indian shipyards have carved a niche in the construction of OSVs. Approximately 70.0 % of Bharti's and ABG's order book is directed towards the oil and gas sector. Globally India has one of the largest OSV order books. Industry leaders, Korea and Japan have limited OSV capacity, resulting in a shift towards India

Replacement Demand:
40% of the Indian owned fleet is more than 20 years old and Indian owners will need to spend about $ 4 billion to replace these in the next 5 years.
The International Maritime Organization (IMO) has mandated the phasing out of all single hull vessels by 2010. Single hull tankers constitute 15.8% of the total vessels

SWOT Analysis:

Recommendations:

§ Dedicated SEZ for integrated and clustered development of Shipbuilding sector in India.
§ Encourage Design capability and R&D through fiscal benefits as given to R&D investment in pharmaceutical sector.
§ Exemption of Service Tax on Shipbuilding and Ship Repair.
§ Constitution of an apex body to regulate the working of the sector.

Conclusion:

Worldwide the shipyards are full and the world is turning to India to meet its requirements. After all, China and India have the skills and cheap steel to make the best and cheapest ships.

The successful shipbuilding industrial development of Japan, Korea and China has not happened by chance but by a carefully crafted policy where the government has provided the core administrative guidance and support. Such an integrated policy initiative would be required for the revitalisation of the Indian ship repair industry as well so that conditions are created for the Indian firms to become technological leaders instead of followers, through promoting competition, cooperation and even acquisition and Joint Ventures with leading foreign yards.


Article Source: http://www.articlesbase.com/business-opportunities-articles/shipbuilding-industry-in-india-377611.html
About the Author

The author Ms Charanya Krishnan is an Economist by profession

Recession Proof Business Opportunities, Top 3 Small Business Ideas

Author: Byron Walker

Have you noticed how much you hear the "R" word lately? There certainly isn't a shortage of news reports on negative financial news out there. As the threat of an U.S. recession continues to grow, you need to ask yourself a question:

"Would you struggle through an economical recession or would you thrive in it?"

There are several products and services that do well in recessionary times. Even as people cut back on expenses and frivolous items, there will still be some products and services that will do well in recessionary times. In fact some will actually thrive in a recession.

- Online Businesses

Online businesses are simple and inexpensive to start up and can be very profitable if done right. It is estimated that U.S. online spending will increase 17% in 2008. This double digit growth is expected to continue for many years as consumers become increasingly comfortable purchasing online and enjoy the conveniences and cost savings of not driving to the mall. Almost every aspect of starting an online business can be outsourced and with almost no overhead, profits tend to be much higher then a high risk retail store.

- Credit and Debt Management

As more American's lose their jobs to downsizing and lose their homes to foreclosures, credit ratings and debt levels are directly affected. Marketing these services is ideal but doing the actual credit repair or debt collections/negotiations can be rather difficult. By finding the right business model within these industries you can have a product in high demand.

- Healthcare

Despite a lagging economy, people will continue to need healthcare. As the baby boomer generation continues to age, so does the need for services in this industry. By finding a profitable niche in this industry you are assured to see increased demand over the next 30 years.

There are many opportunities for entrepreneurs during a recession and we have just touched upon what to look for. The secret to your success is "finding the right business model" to explore.

You could just as easily start a new business in any of the 3 above categories and be dragged down by a business that requires all of your time, doesn't have the profit margins needed or has high start up costs & high risks.

Don't make the mistake of starting a flawed business. Play particular attention to the type of business model you get into when looking at the above 3 industries.
Article Source: http://www.articlesbase.com/business-opportunities-articles/recession-proof-business-opportunities-top-3-small-business-ideas-466917.html
About the Author

Learn the "Top 10 Requirements" for the perfect business model and more about the best recession roof businesses by visiting Byron Walker's website at:

http://www.ultimateresultsnow.com/top10

15 Tips on How to Become a Successful Manager

Author: monique_barb

These 15 useful tips you help you become one of the most successful managers in the world :

1. Try to learn as much as possible about the people you are working with (needs, family lives, hobbies etc)

2. Keep smiling! Be positive (you can transfer your energy to the others)

3. Have short informal conversation with your employees! (use their first names - it is very important).

4. Be patient and listen to them (encourage them to say more, keep eye-contact and focused attention).

5. Shape your speech according to their expectation and interests.

6. Give a good stroke! (say something nice when you meet them).

7. Don't give orders! Ask questions!

8. Praise people any time for their achievements (they will love it)

9. Have the same behavior and attitude with everybody around you.

10. Identify the sources of conflicts and try to solve them in time.

11. Do not criticize, do not blame do not complain.

12. Show strong determination and try to motivate the others.

13. Don't be moody! Be well-balanced and good-tempered all the time.

14. Don't say "NO!" (replace it with "What if")

15. Don't forget that smart people find solutions to solve the problem, all the others give explanations and make excuses.
These 15 useful tips you help you become one of the most successful managers in the world :

1. Try to learn as much as possible about the people you are working with (needs, family lives, hobbies etc)

2. Keep smiling! Be positive (you can transfer your energy to the others)

3. Have short informal conversation with your employees! (use their first names - it is very important).
Article Source: http://www.articlesbase.com/business-ideas-articles/15-tips-on-how-to-become-a-successful-manager-563159.html
About the Author

Monique Barb also writes for FamousWhy Famous Articles

Some Tips on Starting Your Own Nursery School

Author: Sarah Clark

If you have a background in teaching and love children, you may be thinking of starting your own nursery school. Before you just jump in, there are some things to consider first.

For one thing, we do mention having a background in teaching because a nursery school is supposed to be different than a daycare facility.

Parents typically expect the activities at a nursery school to be a bit more structured and to accomplish some learning for their child while he or she is there.

While a daycare centre may allow children to simply play freely for the most part and may offer some reading or other activities, a nursery school should have a very focused list of activities for the children so that they are actually learning some basic concepts when it comes to maths, science, reading, and so on.

Obviously it's important to comply with all legal requirements, so you need to be sure you understand exactly what is required of you to legally run your facility.

How many children are you allowed to have in ratio to the adults? How many need to know basic first aid? The list of requirements might be extensive, so contact your local council and ask about how you can find out the exact requirements for you to run a nursery school.

You may need a substantial amount of money as an initial investment. Parents expect their nursery school to provide toys, teaching aids, materials for artwork, and some even provide lunches and snacks as well.

You will also need to hire some staff, have someone clean the classrooms on a regular basis, and so on. It's not a cheap business to start!

Of course once you do start a nursery school you'll need customers. It helps if you have a customer base even before you open up, so you may need to consult with a marketing company on how to make marketing materials, construct a website, and so on.

You can do this on your own but it is a lot of work to get going, and if you don't have a background in marketing it can be difficult to actually sell your service no matter what you're offering your customers.

Starting and running a nursery school can be a difficult endeavor but a few years down the road when you're successful, you'll see that it was definitely worth it!
Article Source: http://www.articlesbase.com/business-ideas-articles/some-tips-on-starting-your-own-nursery-school-421449.html
About the Author

Sarah Clark is a freelance author. Her work appears on many websites, including Click Nursery Schools which has detailed information on hundreds of UK nursery schools and kindergartens.

10 Businesses You Can Start for $500 or Less!

Author: Carol Denbow

Long time statistics have shown that 9 out of 10 new businesses fail in their first year. Lack of planning and financial ruin is one of the most common causes. Starting small is a way to insure minimal risk in new business. The founder of Dell computers was a college dropout on a shoe-string budget who started his business out of his garage. One in three computers sold today is a Dell.

The following is a list of just some of the businesses you can start for $500 or less.

1. Housekeeping – Requirements/ household cleaners, mop, broom, vacuum, towels, bucket, business cards – approximate cost $150. Molly Maids is a multi-million dollar business started with a broom, a mop, and quality and reliable service. I can guarantee you that the CEO of Molly Maids doesn't clean houses any longer.

2. Gardening or landscaping – Requirements/ mower, edger, blower, rake, shovel, clippers, business cards – approximate cost $450. Some education won't hurt you here, but even without it, how much money did you make mowing the neighbors yard when you were young?

3. Internet sales – Requirements/ computer – approximate cost $500. It's likely you already have a computer at home so this just might be the cheapest and easiest business to start. It has been estimated that by the year 2020, nearly all retail purchases will be done over the World Wide Web. Getting on the bandwagon now may set you up for a prosperous internet business in the near future. Look into working with "drop ship" companies to avoid up front expense and storage fees.

4. Mobile food service – Requirements/ business cards – approximate cost $30. With a half hour lunch break, employees at many companies have little time to leave work and order lunch. Providing a morning menu for lunchtime delivery can be helpful to these people and provide a good source of income for you. Your job? Call in the order, pick it up, and deliver it; for a fee of course. Delivering 15 lunches to one company at $3 to $5 profit apiece can add up quick. Or how about a hot dog cart at special events?

5. Pool service – Requirements/ pool cleaning supplies, start-up chemicals, brush, net, hose, business cards – Approximate cost $400. States with warmer climates have many homes with swimming pools needing weekly care. Service to numerous homes in the same area can net you a small fortune. Business cards on the door or mailbox lets the homeowner know you are available. It may take some time to get a solid clientele, but be patient; established pool service routes can be very valuable if and when you decide to call it quits.

6. Consulting service – Requirements/ know-how, business cards – Approximate cost $30. What do you know that might be of monetary value to others? Sell your smarts!

7. Delivery service – Requirements/ the car, scooter, or bicycle you may already have/ business cards – Approximate cost $30. A great business within large city limits. Corporations, small businesses, restaurants, etc. may be in need of delivery services. Whether it is paper documents, payrolls, food, or other items, delivery services can be a steady and profitable business.

8. Painter – Requirements/ brushes, rollers, edger's, towels, tarps, business cards – Approximate cost $200. Visit local hardware stores to let them know you are available for work and will purchase paint through their stores. Their referrals may keep you busy for months at a time.

9. Handyman – Requirements/ basic tools, business cards – Approximate cost $500. Depending on they type of jobs you acquire in this business, a contractors license may eventually be required. Check with your local and state government offices to determine at what point you will need one.

10. Daycare – Requirements/ toys, educational materials, bedding, a safe and clean home, love – Approximate cost $300. This business requires patience and child care experience. If you care for more than three children at one time, it's likely you will be required to be licensed. Check with your local and state government offices for restrictions and requirements.

Most of these business start-up ideas will require an additional two items you likely already have; an automobile and a telephone. But otherwise, they are super simple and easy to start new businesses suitable for nearly anyone wanting to become self-employed.

The key to having a successful business is to do what you would enjoy doing anyway. Make a list of the things you like to do and follow that with an extended list of ways to make money in a related business. Be creative with your business idea, there are many more options available for you than you probably realize!

Article Source: http://www.articlesbase.com/business-ideas-articles/10-businesses-you-can-start-for-500-or-less-379681.html
About the Author

Carol Denbow is a business start-up expert and the author of three books including, Are You Ready to Be Your Own Boss? (2006). To learn more about this book and how to start and grow a successful business visit http://www.BooksByDenbow.Weebly.com

Do I Have to Have Auto Insurance?

Author: shanemolliwan

If you live in California, state law requires you to prove that you can be responsible financially for any accident that you might be involved in, whether you caused it or not. Most people prove this financial viability by purchasing a policy from a company that offers autoinsurance. In California, you must carry a set amount of liability coverage with your policy, but the amounts for other parts of the policy can vary.

Some people will tell you that autoinsurance is required in California, but this is not exactly true. You do have the option of putting down a $35,000 cash deposit with the Department of Motor Vehicles. However, if that money is used to cover the expenses of an accident, then a new deposit will be required before you may legally operate your vehicle on California roadways again.

So for all intents and purposes, even though technically one could drive without having autoinsurance, the best way to protect yourself from lawsuits, bankruptcy, and/or losing your license is to carry at least the minimum liability amount on an autoinsurance policy. Your insurancecompany will be able to explain to you why it might be better in your situation to carry more than the minimum and will be able to quote you rates depending upon the type of coverage that you choose.

Unless you have an extra $35,000 just sitting around that you have no better use for than to let it sit in the coffers of the Department of Motor Vehicles, autoinsurance is undoubtedly the wiser choice. If the DMV has been notified that your policy has been cancelled, and a replacement policy is not submitted within 45 days, your vehicle registration will be suspended. The same is true if your insurance information is not submitted to the DMV within 30 days of the initial registration or transfer of the vehicle. In addition to the vehicle registration suspension, you can be cited and have your vehicle impounded.

There are those who will try to tell you that you are not legally bound to have autoinsurance in the state of California. Although this is technically true, you can see why failing to purchase auto coverage from an insurancecompany is just a bad idea. Besides having your vehicle impounded, receiving a citation, and having your vehicle's registration suspended, you could be held financially liable for any accidents that you cause and, without insurance, that liability can send you into bankruptcy or worse. None of that is worth it when you can purchase adequate insurance on the cheap.
Article Source: http://www.articlesbase.com/personal-finance-articles/do-i-have-to-have-auto-insurance-5449867.html
About the Author

Get an INSTANT free quote. CHEAP Insurance auto insurance company offers personal auto, commercial, trailer, cycle, watercraft, home, and renter policies. With access to hundreds of Insurance Companies, we can find the right insurance to fit your budget. Make your insurance purchase online at http://www.cheapinsurance.com/ over the phone at 916.485.6969 (or toll-free 800.486.1866), or visit us at 8928 Volunteer Lane, Suite 210, Sacramento, CA.

Holiday Bills are Piling Up – Are Cash Loans the Answer?

Author: patty

If you live paycheck to paycheck, chances are you'll be putting most of your holiday expenses on your credit card. But, what happens when the bills come in and your paycheck doesn't get any larger? When you are faced with mounting consumer debt, the only way to relieve the stress over your finances for true peace of mind is to get out of the red and into the black. Taking out cash loans is an expensive answer to the problem, but it's one of the most effective ways to catch up to yourself when you need cash fast.

What are Cash Loans?

Short-term cash loans, such as payday loans, are a quick and easy way to get your hands on extra cash when you need it the most. In most cases, borrowers need to pay the money back on their next payday, which is why they're considered "short-term" loans. Therefore, it's important to take out only what you need and to spend the money only where you need it. Though it's tempting to spend this money frivolously, it should be used to cover bills or other expenses in an effort to balance your budget.

What are Your Loan Options?

There are different types of cash loans that are available to help you with your finances. Under the payday loan umbrella there are car title loans and installment loans, for example. If you are living paycheck to paycheck, installment loans are probably the most reasonable option because they allow you to make smaller payments over a longer period of time. The lender you choose can help you figure out which loan option is right for you based on your needs and most importantly your budget.

Are Cash Loans the Answer?

Short-term cash loans aren't the answer to everyone's financial problems. In fact, you will need to carefully consider how payday loans fit into your budget before signing on the dotted line. If you find a loan option that fits your needs then the extra cash could be the difference between bounced checks, overdue credit card payments, and expensive late fees. So, if you are faced with holiday bills that keep growing, think about cash loans and the way they can relieve your money-related stress.
Article Source: http://www.articlesbase.com/personal-finance-articles/holiday-bills-are-piling-up-are-cash-loans-the-answer-5450305.html

How to Make Yourself Richer

Author: Ifeanyi Enoch Onuoha

Every one of us is born rich due to the abilities, gifts, genius and capabilities inherent in us but being richer demands you respond to your ability by taking responsibility of your life. Like it or not, everyone has financial problem one time or the other. If you truly want to make yourself richer, happier and impact lives better then you must solve problems. Identifying and solving problem is a means to make more money, build influence and enrich lives positively.

Every era has its own unique set of financial challenges. And each situation requires a different strategy to tackle it. Before going to school, graduating and getting a good job was ok to solve financial problems. Today a college degree and a job are no longer enough to be on top of things. Our generation faces a new set of financial challenge that dies not just demand hard work but smart work. Effectiveness is no longer the word but greatness.

It's time to think outside the box, have a good vision and think big. Enlighten your financial IQ, inspire your entrepreneurial faculty by empowering yourself and being in business for yourself. Come out with mind blowing and earth shaking ideas that will revolutionize the system and put cool money in your account. There opportunity in adversity, even bad times can make you richer. Our economy is suffering but you don't have to suffer. You can make things better by facing the problem now and be part of the solution.   Financial education is the panacea to our challenging economic problems. Truly, education replaces fear. With the right financial education and planning you can ride out the turbulence of what is happening in our financial world today and through it you can become rider by finding ways to solve the problems. Education is having proper information and applying the knowledge to produce better result. With the paper financial education and preparation, you can increase your financial IQ and ride the rough waters to become richer than poorer.
 The criterion to excel and be richer in this day and age is the leadership ability and the power to solve problems. It is no longer time to spend money on quantity but on quality. Even when I was having financial difficulties, I go for the best not the less. Yes, they have thought you to live below your means to save money but I tell you it is time to get very rich by overcoming the challenges of life through expending your means enjoying higher life investing and making more wisely.

Leverage is what you need to be richer. Leverage is the ability to do more with less and it can come in many forms. Think and confess positively. Brain power is the ultimate leverage; please, activate your brain power, billionaire prestige and abundance prosperity mentally. Synergy is the sagacity that you need to lead cities. Use partnership to make things easier, you can't do it alone.
 Increasing your financial education makes it easier for you to be richer. Once you have the education, experience and understand the power of leverage, responsibility, expandability, creativity and predictability, life will be better – sure it did for me. Reduce your fear and fuel your courage. Have vision and fight the good fight and all things will fall in pleasant places for you to sit pretty and enjoy your richer state.
Article Source: http://www.articlesbase.com/personal-finance-articles/how-to-make-yourself-richer-5450024.html
About the Author

Ifeanyi Enoch Onuoha is a motivational/inspirational writer & speaker. He's a leader, higherlife coach, President at Higherlife International www.facebook.com/higherlifeinternational and Chaplain at International Christians Corp & Chaplaincy (ICCC). He has a soon to be released book.

5 Qualities That Can Make You A Millionaire

Author: LAKHVIR

The Millionaire Mind is written by Thomas J. Stanley, the #1 New York Times best-selling author. In this book the author reveals the success secrets of those people who became millionaire in one generation.
This book will teach you how to become a millionaire? The author interviewed more than one thousand millionaires and asked each of them about 277 questions.


With the data he collected from interviews he wrote this book to show you-


• How some people become millionaire?
• What success factors made them wealthy?
• What are their spouse like and how did they choose them?
• How do they run their household expenses?
• How much do they invest in stock market and in other investments?
• Do they become millionaire by playing lottery?
• At what age do they buy their first home?


Here Is A Sketch Of A Typical Millionaire In His Own Voice


1. I am Fifty-Four year old. I have been married to the same women for more than 25 years.
2. Only 2% of us have never been married.
3. On average we have net worth of approx. $ 4.3 million. Our total annual income is $ 436,000.
4. Any member of our family has never spent more than $ 41,000 for automobile.
5. 61% of us never received any inheritance.
6. We own our homes. We have little or no mortgage. We tend to buy homes when others are selling.
7. About 12 years ago we purchased our current home for an average price of $435,000. On average the home currently worth $1 million.
8. We live in homes that were constructed 40 years ago.
9. The majority of us have not changed our home in the past ten years.
10. 32% of us are business owners. 16% are senior corporate executives, 10% are attorney, 9% are physicians and 30% are other professional.
11. We are all well educated. 90% of us are college graduates.
12. On average, we go on vacations once every two year overseas.
13. We love our chosen work and we are not workaholics but we work hard and we try to be effective and more productive to maximize the returns of our efforts.
14. We do spend time to plan for saving and investing our money. We also consult with advisors.
15. We believe the best things in life are free like attending your children's sport events or school meetings or going for walk with your family.


What Are The Five Qualities That Can Make You A Millionaire?


1. Integrity - Being honest with others and yourself
2. Discipline - Applying self control
3. Social-skills - Getting along with people
4. A supportive spouse
5. Hard Work - More than most people do

Keep this list in your wallet and read it twice daily. In this book, the author does a good job of documenting the facts with figures and tables to explain exactly what the average millionaire look like.
The author explains that these millionaires do not have superior intelligence, they are well educated but they were not the best in their school or college, they were told that they are not smart enough to succeed but still by following some rules they became financially successful.
Even if they were not best in their school or college, they knew that the education is the most important factor to enhance their abilities.


What Do Most Millionaires Have In Common?

They have courage.
They take well calculated financial risks that produce higher returns.
They are not gamblers; they recognize the opportunities and grab them with both hands.
They don't want to work for other people.
They take calculated risks and start their own business according to the demand of market.
They are of mind set that it is risky not to be self employed.
They work harder than others and believe in themselves. They are not afraid of short-term failures.
They are well organized; they prepare and plan to succeed.


Final Thoughts On This Book

I would recommend this book to anyone looking to improve his financial life and to manage the money effectively. This book covers everything from choosing spouse to raising children and from buying homes to other investments. If your goal is to become a millionaire, then this book is for you.
For More Information and to Read a Best-seller Book only in 10 minutes. Please Visit
 http://www.readtoawake.com/
Article Source: http://www.articlesbase.com/personal-finance-articles/5-qualities-that-can-make-you-a-millionaire-5452399.html
About the Author

Hello Friends,
First of all, let me tell you about myself before I tell you what I am offering you. I love reading books. I like to share with others what I learn from books so I have started a blog where I publish short summaries of Best-selling books on the subjects of Sales, Business, Leadership, Stock Investing, Real estate, Goal setting and Success strategies.
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Familiarise yourself with various life insurance products

Author: Amit.Kumar

Life insurance products are the perks of applying for a life insurance. These products can be invested or can be cash valued according to our wishes. Thus, they provide an attractive offer to any individual. The cash sum is made due in case of the death of the applicant and is paid to the spouse and children if any.
It is always important that before investing on an insurance policy, one goes through the different Life insurance products that available with it. These products are always handy for the holder of the policy. The savings made through these life insurance products can be saved for other investments such as education, property and so on. These benefits make life insurance products an added benefit to these policies. An added advantage of these products is that the applicant has total control over when and where to invest them. These products may also be surrendered in return for cash value depending upon the financial condition of the investor. Thus, many people prefer to let the cash value increase over many years while also keeping the insurance in case of death. If the death of the person occurs, the cash value is due. However, if the death of the investor does not occur, then the policy can be frozen and the cash value is gotten along with the policy. With the increase in internet usage in our daily lives, it has now become much easier to apply for these policies. These days one can easily Apply life insurance online by sitting comfortably between the walls of your homes. The following are the steps to be carefully given heed to apply online life insurance:

1) If you need information regarding policies, you can easily consult the internet and find out valuable information about the different types of health and life insurance companies. Reputed companies would provide offers with lesser premiums and better tax benefits. Moreover, these companies are also customer friendly and are transparent in their schemes. They would not cheat you due to their reputation and the cutthroat competition in the insurance sector. On the other hand, less reputed companies might provide you with cheaper options on the outside, but there would in all probability, be a hidden cost that the customer would not know of. These companies could cheat you and ruin your hard earned money.

2) After following the above step, one must get all the online life insurance quotes available online which would be of use to them. These life quotes are readily available online but it would be much harder to find them manually by consulting numerous insurance agents and brokers.

3) Decide upon a policy thoroughly by going through the quotes. It must be carefully noted that one must never go through this step in a hurry. One must think over properly before deciding upon an insurance scheme.

4) Apply online through the forms available online. These forms must be filled honestly as any anomalies would be taken extremely seriously and could lead to the termination of the scheme.

Mediclaim comparison sites are now available online to compare the advantages and disadvantages provided by different mediclaim insurance policies. These sites compare different quotes and suggest which of them would be better for you and your family. Such facilities of mediclaim comparison are available online through different sites. These have helped us in choosing which policy would be the best for us. However, it is always suggested that one must consult their financial advisors.
Article Source: http://www.articlesbase.com/personal-finance-articles/familiarise-yourself-with-various-life-insurance-products-5454520.html
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Mediclaim comparison sites are now made available online for the benefit of the consumers. These sites help us decide which mediclaim policy would be considered best for our family given the financial condition. Along with mediclaim, we can also apply life insurance online through the company website.

Preparing for Retirement: Should You Sell Your Annuity?

Author: patty

Most Americans work their whole lives with one common goal in mind: retirement. This period in your life, often referred to as the "golden years," is the time to kick back and enjoy the fruits of your labor. If you're lucky, you will have invested wisely over the years so you have enough saved to live comfortably for the rest of your life. However, it's possible that no matter how safely you chose your investments your retirement plan will no longer fit your needs when it comes time to stop actively working. For example, if you have an annuity that you no longer need or want then you can sell it for a lump sum to better fit your new retirement plan. Here is more information about how this option could work for you.

Annuities are a type of investment in which your money is used to earn equity that is ultimately paid out as a source of retirement income. For most people, buying an annuity is a great idea when they start investing, but life is full of twists and turns that can easily throw their retirement plans off track. So, when your annuity reaches its maturity date and the payments start coming in, what happens if they no longer meet your financial needs? Or, what if you don't want such a structured approach to your retirement funds anymore? Either way, there are companies that will give you cash for an annuity which allows you to re-plan your finances based on your new needs.

Some people don't wait to sell their annuity because they like the security of their monthly checks. If you want to preserve this sense of security then selling annuities might not be in your best interest. If, on the other hand, your investment strategy changes, you don't want to wait for future payments to plan a trip or make a big purchase, or you just need help paying off your bills, contact a buyer to learn more about your options. Whether you decide that a guaranteed monthly paycheck or a lump sum of cash is in your best interest, make sure your retirement years are financially safe and secure so your golden years shine.
Article Source: http://www.articlesbase.com/personal-finance-articles/preparing-for-retirement-should-you-sell-your-annuity-5456573.html
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