Credit card debt is a major social problem in some Western countries. To rid yourself of credit card debt, it is best to recognize the problem as both a social and individual problem.If you are overburdened with credit card debt, or are in danger of becoming so, it is very easy to see it purely as an individual problem, one from which you may be suffering both physically and mentally. Worry and stress can be silent marauders into your physical and mental well being. Debt can undoubtedly cause both worry and stress, not just to the debtor, but their immediate families too.Why Should You Care About The Social Causes of Credit Card Debt?If you wish to overcome your credit card debt problem, you will benefit from removing some of the social influences. They are a major influence on the way you react, think and behave. Remove the social influences, and you take a big stride in your journey to eliminate your debt.I do not, of course, mean remove the root causes of credit card debt. You cannot do that. What I am referring to is to prevent the social influences from penetrating you and taking over your life. As an individual, you have the right to resist social influences where they are harmful. The liberal, unfettered use of credit cards is an influence you will benefit from resisting.Just by being fully aware of the social influences, you have made an important step. You will more likely be on your guard, and by asserting your individuality, you are more likely to overcome or prevent the credit card debt problem.What Are The Social Causes Of Credit Card Debt?You could spend years analyzing the credit card debt problem. Here are just a few of the influences at work in the society around you:1. Credit card interest rates are high, therefore the profits can be high. Banks and other credit card issuers are after their slice of that big money, including from you. They can therefore justify big marketing budgets to get your money. I deliberately do not say “get your business”. You will resist better if you think “they are after my money.”2. It is very easy to get credit cards, multiple credit cards in fact. Issuers of credit cards make it easy for you, if you have had no debt problems in the past. If they seem to take it lightly, it is understandable that their customers do too. But remember, they take the risk factors into account when setting interest rates. That’s why they are so high.3. Your friends, neighbours and work colleagues will probably all have multiple credit cards, talk about them and flash them around from time to time. That can all influence your own attitude to credit card debt. 4. Depending on what country you are in, yours may be a “have now, pay later” society. Immediate gratification can take precedence over common sense. If everyone else is doing it, it surely must be right? Wrong. Especially if the interest rates are too high.5. You see other people buy new furniture, go on exotic vacations, or go out to expensive restaurants all the time. Even if you never know if they are doing so on credit card, you may want the same. But you do not have the immediate cash, so what do you do? Jump on the credit card train? That is what your society may be pushing you towards.How To Resist the Social Pressures To Succumb To Credit Card DebtDue to the overwhelming pressures of the credit card society, it can be quite a difficult task, initially, to change your own attitudes. But by asserting your individuality, you can steadily eliminate the social conditioning. It is really a matter of how you think in certain situations. You are in charge of the way you think, so all you need to do is what is natural. Not what everyone else seems to be doing around you, but what is natural to you as an individual. Think to protect yourself, assert yourself, and to look after your financial well being.Here are a few ideas to help you:1. Whatever type of loan you may apply for, you are after just one product, money. Different types of loans are marketed as separate products, in different packages, but to you, they should all be one: money. The money, once you have it, is all the same quality. A dollar is a dollar, a pound is a pound, a euro is a euro. Having engrained that upon yourself, knowing you are just after this single product, you need only look at price. Credit card debt is very, very expensive. The interest takes money from you, and reduces your assets. If you need a loan, you want the lowest possible interest rate, one that does not unnecessarily leech your assets.2. A credit card should only be used as a convenience to pay if you have no cash on you, knowing that you can pay off the balance before interest charges kick in. Many cards have an interest free period. Never use credit cards as a loan beyond that free period. Others do, but you have no need to. You can eliminate that idea altogether. You are creating a new habit that will enhance your financial situation, and resisting an old common habit that would ultimately damage your finances.3. Plan all your borrowing. Sit down and write down what you absolutely must buy over the next year, and add what you would like to buy. Total the cost. Write down a budget for each month, making sure you have listed all your regular expenses that are fixed and unavoidable, and those over which there is some flexibility. Compare that total with your income. If you have a surplus, then you can think about those extra purchases you had in mind. If not, don’t think any more about them. You cannot afford them, and cannot afford to borrow.If you have a planned surplus, then maybe you can get those things you wanted. If you can afford all of them, and there are quite a few items on your list, then forget about getting a loan. Be patient, resist the have now pay later syndrome. You can save interest and buy a bonus item with that later if you really must. You are in a great position to pay cash. Prioritize the things you want to buy, and note their cost, and then work out a plan by which you buy one item at a time spread throughout the year. Why pay the banks credit, when you can pay cash? You will save not just the interest but maybe get cash discounts. Cash gives you control. With credit you are subservient.If, on the other hand, there are just one or two more expensive items you want to buy, it is time to compare options and test your resolve. If you save your surplus each month, consider how long it will take to have enough for item 1 and maybe item 2. Are they really urgent? Probably not. Maybe you can save for one after 4 months and 2 after 9 months. That way you are getting into the habit of saving, and living off cash. Cash is king. Your finances will start to look good over time, and you’ll start to feel proud of yourself. You will feel in control.Remember too that by saving, if an emergency comes up, you may have the cash at hand instead of reaching for that expensive credit card.You really cannot wait and save? That is a pity, but now check out all the loan sources suitable for your intended purchases. Get the best plan, the best interest rates, and apply, with the intention of using that loan just for what it is intended, and to pay it off within the time scale of the spending plan. In the example one year. Stick to that discipline, and your credit is still under your control. And, you have avoided reliance on expensive credit cards.4. Remind yourself every day that you are only going to use your credit card when you have no cash on you, as a convenience, and you will repay it before interest starts to accrue.5. Also remind yourself every day that sometimes it is good, or even necessary, to be that bit different, and to resist social pressures. Imagine all the credit card lemmings heading towards the precipice, while you relax in your counting house, counting out your money. Real money; your assets. Anyway, it’s great sometimes to be different, it really does make you feel good about yourself.6. Never, ever feel you have to buy something just because a neighbour or friend has been boasting about theirs. Envy and jealousy are viruses that minimize your individuality, and can, in this case, damage your finances.Resisting the pressures of the credit card society will be a lot easier once you have set your mind to it, and started to feel the benefits. Enjoy the process, and you will be a cash convert for the rest of your affluent life.
Moving over to the other side of the balance sheet, we find the sources of financing for the firm’s assets, that is, liabilities and stockholders’ equity. Current liabilities are always listed first. These liabilities generally comes from the normal routine of daily business activities. As their name implies, they are short-term liabilities that will be paid from current assets. They generally include such items as accounts payable, which most often arise from credit purchases of inventory and supplies, and from accruals, which are liabilities that have grown with the passage of time but have not yet been paid. Examples of accruals include wages earned by employees but not yet paid and interest that has accrued on loans.
Long-term debt is debt that has a maturity date somewhere off in the future – usually a year or more – and that will not be paid from current assets. It will often be re-financed through additional long-term borrowing or paid by liquidating specific assets. For example, the firm might establish a special fund into which they make periodic deposits in order to retire the debt when it matures. If a firm has long-term debt, specific information regarding interest rates, maturity dates and pledged assets (if any) will be disclosed in the notes to the financial statements which accompany the financial statements.
There are two ways in which the owners’ equity in a company (corporate or otherwise) can be increased: through a direct contribution of assets to the company and through the company’s earnings. In a proprietorship, there is only one owner and only one owner’s equity account, Joan Doe – Capital. Both her contribution of assets to the company and the company’s earnings that she has not withdrawn for personal use are combined in the capital account. Looking at the capital account for a proprietor you cannot tell how much of the capital comes from her contribution of assets and how much comes from the firm’s earnings that have not been withdrawn.
In a partnership, there is a separate account for each owner, although on the financial statement these individual accounts will probably be combined into one. Large accounting and law firms might have dozens or even hundreds of partners. Accounting for corporations is more complicated because their financing is more complicated. Common stock is the basic ownership unit of a corporation. It carries with it all the basic rights of ownership: the right to vote in elections for membership on the board of directors, the right to residual profits, the right to residual assets in the event the corporation is liquidated and also the inalienable right to suffer losses.
Preferred stock is an interesting animal; it is neither fish nor fowl. That is, it is not a liability, nor does it represent ownership rights in the usual sense of the word. It’s a bit of a hybrid. Generally, a preferred stockholder has neither the protection the law accords holders of debt nor the rights held by common stockholders. Yet it has elements of both. In a worst-case scenario when a corporation has to declare bankruptcy and liquidate, preferred stockholders’ claims to the assets will come after the debt holders but before the common stockholders. Also, while preferred stock dividends are not guaranteed, preferred stockholders will receive dividends before common stockholders. Thus, preferred stockholders are in a preferred position when it comes to the distribution of dividends and assets.
It is thoroughly advisable for everyone who owns their own home to get home insurance to ensure that they are protected should something unfortunate happen to their property. Most people who look into getting home insurance realise that there are a number of factors that influence their policy value and the types of policy that they can actually get. However, very few of those people actually realise that one such factor is in fact an individual’s credit history. It can, in fact, seriously affect your homeowner insurance rate.Home insurance owner bad credit actually affects the application process and ultimately the policy that you are actually offered. An underwriter at the home insurance company you choose to apply with will check on your credit score by performing a credit check. This has been a standard process for years because it helps to determine final homeowner insurance rates. Your credit score effectively determines whether you are offered a policy because it can place you in a high, medium or low risk category. This may sound complicated but, when fully explained, it is actually very simple.An underwriter will run your credit information through a computerized program after inputting your details. The computer will then return an insurance score based on a sliding scale and will also determine your homeowner insurance rate if your application is successful. The insurance score will tell the individual underwriter how likely you are to make a claim on your home insurance. Those with a high-risk insurance score will either be offered a more expensive homeowner insurance rate or will have their application declined, whereas those with a low-risk score will have a low home insurance rate and will certainly be accepted. In other words, you pay extra if you are more likely to claim. Therefore, home insurance owner bad credit can cost your far more in terms of high premiums than good credit ever would.Home insurance companies have to stay competitive, and that is the reasoning behind using credit scoring to determine homeowner insurance rates. By penalizing those customers that do claim, they are keeping their prices low for everyone else. As the risk determines the cost, some customers will inevitably have problems getting home insurance at all. However, there are home insurance companies that specialize in home insurance owner bad credit cases so there are still options available.Some countries do not employ this method of assessment to determine homeowner insurance rates. The UK is a prime example. They go purely on address rather than owner. This method works for them, just as credit and insurance scoring works in the United States. It largely relies on the financial regulation boards of the country. However, whichever method is employed, home insurance is open to all and can give peace of mind that neglecting to take home insurance cannot.
There a several things that you can do to get cheap home insurance rates. I’ll share just a few in this article.1. Raise your deductible and you’ll get cheap home insurance.For those who don’t know what a deductible is, it is the amount you’re bound to pay if you make a claim before an insurer pays according to your policy terms. For homeowners insurance policies, your deductibles will normally start from $250. Increasing your deductible from $250 to $500, for example, might save you up to 12%. Raising it further to $1000 may get 24% discount. Check with your agent how much you’ll save as there is no fixed discount rate for all insurers.2. If it makes sense, buy more than one policy from the same insurer. This will also result in cheap home insurance.Many insurers will give discounts anywhere between 5% to 15% if you buy more than one policy from them. However, this does not make sense in every situation because the sum of savings made by buying certain policies from different insurers may far outweigh whatever discounts you may get. Therefore, take some time out to check thoroughly.3. Insure your house, not the land and you raise your chances of getting cheap home insurance.You insure your home to get coverage from perils that could make you lose it. All such perils do not take away the land on which your home is built. Make sure you deduct the value of your land from the cost of your home whenever you apply for a home owners insurance policy. If you fail to do this you’ll be buying much more insurance than you really need. This means higher unnecessary premiums.4. You’ll get cheap home insurance rates if your home is better secured.Dead-bolt locks and burglar alarms could get you discounts of around 5 percent. Some insurers take it even further and offer between 15 and 20 percent discounts if you get special fire and security devices that ring at a police station, fire station or any monitoring facility. Such systems have to be recommended by the insurer for you to qualify for such discounts. The funny thing, though, is that although such devices will reduce your homeowners insurance premiums, they are by no means cheap.5. Get quotes from insurance quotes sites and you’ll surely get cheap home insurance.You will save a lot of dollars by visiting at least three home insurance quotes sites. Visiting a minimum of three quotes sites increase the chances that you’d obtain more quotes.And, you should understand that because the likelihood of receiving cheap home insurance quotes is related to the range of quotes you get, the more insurance companies you obtain quotes from, the better your chances. Obtaining your insurance quotes online will definitely help you save much if you sacrifice just 15 minutes to ask for quotes from a minimum of 3 insurance quotes sites.
In the current economic situation there are numerous ways in which one could regroup and try again to find a job on the less than favorable job market today. One of the ways in which you could become well endowed with a job is by enlisting and producing a bookkeeping certification. These can be acquired as a result of passing a test at the end of a preparation period. There are online classes, there are courses done by schools and can be attempted by anyone, granted that they have a minimum degree, have finished their college and can cover the cost of the preparation period.
It is very important to note that the accounting schools will prepare one for many different possible jobs but generally accounting, primary and intermediate degrees can be had faster than most other certifications. The advantage to the individual is that they will be capable of faster and more reliable acquiring of the know-how that will permit them to take on these jobs without any more issues. The truth is that accounting degrees can end up paying a lot of money and the basic jobs in the industry can be quite easy to find.
There are also diverse methods to make sure that one will be promoted fast and easy and he more capable one shows himself/herself to be, the faster they will advance in the chain of the business. There are many other account practice jobs and internships can be pursued while preparing for the job and most people will be on the right track with this in no time.
In terms of finding out if you have what it takes to get the job done and get to the end of it properly, you should always take into consideration what the job requires. Most of the times you will find out that it is a question of having a natural inclination towards numbers and also for working with high volumes of data, most of time times interfacing to it by digital means.
The accounting job can also be found as an outsourced type of job and it requires a bit of planning and a bit of enterprise skills in finding out the outlets that allow you to get in touch with potential clients. But, if you’re not interested in the accounting practice for the job opportunities you will be happy to know that it can also help you in keeping your own business books and in becoming less dependent on an external accountant for your own freelancing or business.
No matter why you are looking for to improve your accounting skills or to get them certified, the accounting training program can definitely transform you into a more self sufficient accountant, capable of managing your own finances and of knowing how to deal with a wide range of financial situations. Ultimately, the need for a clear cut financial record and for keeping a tighter noose over your expenditures is what will allow you to save money and to get more profitable.