Comments on: 5 ways to Better Personal Finance Management http://www.voicesemerge.org/5-ways-to-better-personal-finance-management.html Sat, 23 Jan 2010 03:57:21 +0000 hourly 1 http://wordpress.org/?v=3.0 By: ajad_1980 http://www.voicesemerge.org/5-ways-to-better-personal-finance-management.html/comment-page-1#comment-142 ajad_1980 Fri, 22 Jan 2010 21:47:36 +0000 http://www.voicesemerge.org/5-ways-to-better-personal-finance-management.html#comment-142 See if you can get help here http://www.futureaccountant.com/ See if you can get help here

http://www.futureaccountant.com/

]]> By: handsome http://www.voicesemerge.org/5-ways-to-better-personal-finance-management.html/comment-page-1#comment-145 handsome Fri, 22 Jan 2010 16:08:36 +0000 http://www.voicesemerge.org/5-ways-to-better-personal-finance-management.html#comment-145 By: Munch_101 http://www.voicesemerge.org/5-ways-to-better-personal-finance-management.html/comment-page-1#comment-143 Munch_101 Thu, 21 Jan 2010 16:24:16 +0000 http://www.voicesemerge.org/5-ways-to-better-personal-finance-management.html#comment-143 Expenses shouldn't rise proportionately with sales growth because in some businesses certain costs are fixed and aren't affected by sales. However, it is usually desired that most of your costs are variable, that way you can manage your business accordingly and control your costs throughout the business cycle more effectively. Also, expenses won't rise at the same rate as sales because of productivity gains in an economy. This is basically why we can have GDP growth at rates higher than inflation (I'm talking nominal terms which then translates into real GDP growth). If expenses increase at the same rate of sales, that is not necessarily a bad thing. That could mean that management has done a good job of scaling back their fixed costs and are better able to manage the business through downturns. An important measure to look at is what is the return that management is generating relative to the capital levels invested in the business. Expenses shouldn't rise proportionately with sales growth because in some businesses certain costs are fixed and aren't affected by sales. However, it is usually desired that most of your costs are variable, that way you can manage your business accordingly and control your costs throughout the business cycle more effectively. Also, expenses won't rise at the same rate as sales because of productivity gains in an economy. This is basically why we can have GDP growth at rates higher than inflation (I'm talking nominal terms which then translates into real GDP growth). If expenses increase at the same rate of sales, that is not necessarily a bad thing. That could mean that management has done a good job of scaling back their fixed costs and are better able to manage the business through downturns. An important measure to look at is what is the return that management is generating relative to the capital levels invested in the business.

]]> By: Francesca C http://www.voicesemerge.org/5-ways-to-better-personal-finance-management.html/comment-page-1#comment-144 Francesca C Thu, 21 Jan 2010 14:41:18 +0000 http://www.voicesemerge.org/5-ways-to-better-personal-finance-management.html#comment-144 Hi, Owning your own businnes and having multiple streams of income are the way most people become millionaires. It sounds like you have 2 passions 1/working in Finance and 2/ living in Mayfair. Sometimes your passions can not give you your dreams. So if they don't or won't in the timeline you would like...then find other ways to create the wealth you want so you can live your passions. Read online or pick up a book by Robert Kiyosaki, He talks about how to create weath and use multiple streams of income. Example: Income from rental property you buy, returns on stock investments, small network marketing business, and your salary from your employer. The 1st 3 are the most powerful, because they allow you to leverage your time and make money when you are not actually working. I do all 4 and even during this down economy I see growth overall. Growth in 2 of the areas (real estate properties and network marketing), equal in my job and of course right now my stocks not so good. But overall still growth. I wish you the best at both of your dreams. Email me through my profile if you want to chat more. Live Happy, Karen Hi,

Owning your own businnes and having multiple streams of income are the way most people become millionaires.

It sounds like you have 2 passions 1/working in Finance and 2/ living in Mayfair.

Sometimes your passions can not give you your dreams. So if they don't or won't in the timeline you would like…then find other ways to create the wealth you want so you can live your passions.

Read online or pick up a book by Robert Kiyosaki, He talks about how to create weath and use multiple streams of income.

Example: Income from rental property you buy, returns on stock investments, small network marketing business, and your salary from your employer. The 1st 3 are the most powerful, because they allow you to leverage your time and make money when you are not actually working.

I do all 4 and even during this down economy I see growth overall. Growth in 2 of the areas (real estate properties and network marketing), equal in my job and of course right now my stocks not so good. But overall still growth.

I wish you the best at both of your dreams. Email me through my profile if you want to chat more.

Live Happy,
Karen

]]> By: srishti t http://www.voicesemerge.org/5-ways-to-better-personal-finance-management.html/comment-page-1#comment-141 srishti t Wed, 20 Jan 2010 18:18:36 +0000 http://www.voicesemerge.org/5-ways-to-better-personal-finance-management.html#comment-141 the employment scene is really down. get yourself to join a good company, even if the pay is low. all the best the employment scene is really down. get yourself to join a good company, even if the pay is low.

all the best

]]> By: Sander http://www.voicesemerge.org/5-ways-to-better-personal-finance-management.html/comment-page-1#comment-146 Sander Wed, 20 Jan 2010 15:18:56 +0000 http://www.voicesemerge.org/5-ways-to-better-personal-finance-management.html#comment-146 I think it's great that you know that you want a change AND have some inspiration and direction on what you would like to do. As I'm sure you're aware, this sort of career transition will take some strategic planning and some resources. And, no, I don't think you're too old to make such a transition as long as you go into it with your eyes wide open and well-informed. You have at least 20 - 30 more years in your career! :) As a Career Coach, I always encourage my clients who are considering a career transition to do some informational interviews with folks who are in the job or field they want to go into. Many times you can connect with folks via LinkedIn, Facebook, Plaxo, etc. Even if you don't know the person, many people are willing to spend 20 - 30 minutes on the phone or at coffee to talk about themselves and their career. If you get turned down a few times after requesting informational interviews, don't be discouraged. There ARE people out there who want to help others. It's a bonus if you can find people in the accounting field who went into the field later in their career (like you would be doing). Use your friends and family network and ask them for help in finding such a person (or people) that you may be able to chat with. Reaching out on forums like this is a great start! You may find some CFAs who are answering questions that you could contact for an informational interview. If I can answer any other questions about your career transition, please contact me! -Kelly Harrington Career Coach www.kellyharrington.com I think it's great that you know that you want a change AND have some inspiration and direction on what you would like to do. As I'm sure you're aware, this sort of career transition will take some strategic planning and some resources. And, no, I don't think you're too old to make such a transition as long as you go into it with your eyes wide open and well-informed. You have at least 20 – 30 more years in your career! :)

As a Career Coach, I always encourage my clients who are considering a career transition to do some informational interviews with folks who are in the job or field they want to go into. Many times you can connect with folks via LinkedIn, Facebook, Plaxo, etc. Even if you don't know the person, many people are willing to spend 20 – 30 minutes on the phone or at coffee to talk about themselves and their career.

If you get turned down a few times after requesting informational interviews, don't be discouraged. There ARE people out there who want to help others. It's a bonus if you can find people in the accounting field who went into the field later in their career (like you would be doing). Use your friends and family network and ask them for help in finding such a person (or people) that you may be able to chat with.

Reaching out on forums like this is a great start! You may find some CFAs who are answering questions that you could contact for an informational interview.

If I can answer any other questions about your career transition, please contact me!
-Kelly Harrington
Career Coach
http://www.kellyharrington.com

]]> By: Gabry Hyrule http://www.voicesemerge.org/5-ways-to-better-personal-finance-management.html/comment-page-1#comment-147 Gabry Hyrule Wed, 20 Jan 2010 11:26:51 +0000 http://www.voicesemerge.org/5-ways-to-better-personal-finance-management.html#comment-147 By: matjusm http://www.voicesemerge.org/5-ways-to-better-personal-finance-management.html/comment-page-1#comment-140 matjusm Tue, 19 Jan 2010 18:27:18 +0000 http://www.voicesemerge.org/5-ways-to-better-personal-finance-management.html#comment-140 Congratulations on your outstanding admission! A BSc in financial administration gives you great job prospects. Check with the UK advisers and ask about which local firms hire undergrads for part time work. You may get some experience to put on the resume and earn some dough for grad school as well. The financial services sector is rife with opportunity, I'm certain you can make a hook up that will benefit you. Just as an aside: my under grad was BSc in BA and my first masters was an MBA. The folks I was working for at the time footed the entire bill for the MBA! Good luck, knock 'em dead! Congratulations on your outstanding admission!

A BSc in financial administration gives you great job prospects. Check with the UK advisers and ask about which local firms hire undergrads for part time work. You may get some experience to put on the resume and earn some dough for grad school as well. The financial services sector is rife with opportunity, I'm certain you can make a hook up that will benefit you.

Just as an aside: my under grad was BSc in BA and my first masters was an MBA. The folks I was working for at the time footed the entire bill for the MBA!

Good luck, knock 'em dead!

]]> By: wenbin l http://www.voicesemerge.org/5-ways-to-better-personal-finance-management.html/comment-page-1#comment-139 wenbin l Tue, 19 Jan 2010 18:26:34 +0000 http://www.voicesemerge.org/5-ways-to-better-personal-finance-management.html#comment-139 Financial management of restaurants varies depending on the type or restaurant. A fast food restaurant will have different targeted goals than a full service restaurant. If you are looking for targeted numbers for your variable costs such as labor cost, food cost, liquor cost, beer cost, and wine costs you can use a the industry averages of 30%, 31%, 22%, 28%, 35% respectively. If you are looking for a more extensive look at restaurant financials I would suggest checking out the site http://www.foodandbeverageunderground.com where you can get all the food and beverage knowledge to run a restaurant for free. Good luck and cheers! Financial management of restaurants varies depending on the type or restaurant. A fast food restaurant will have different targeted goals than a full service restaurant.

If you are looking for targeted numbers for your variable costs such as labor cost, food cost, liquor cost, beer cost, and wine costs you can use a the industry averages of 30%, 31%, 22%, 28%, 35% respectively.

If you are looking for a more extensive look at restaurant financials I would suggest checking out the site http://www.foodandbeverageunderground.com where you can get all the food and beverage knowledge to run a restaurant for free.

Good luck and cheers!

]]> By: larrylie88 http://www.voicesemerge.org/5-ways-to-better-personal-finance-management.html/comment-page-1#comment-138 larrylie88 Tue, 19 Jan 2010 18:25:31 +0000 http://www.voicesemerge.org/5-ways-to-better-personal-finance-management.html#comment-138 thank you. thank you.

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