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Can You Get Rich With Online Currency Trading?

Many people would love to find a way to get rich. Since life is so hectic, prices so high and salaries so small, there's no wonder so many of us dream about finding their financial freedom online.

Online currency trading is one of the activities that promise relatively high earnings with minimum investments. However, this idea can easily trick you into spending way more than you can afford. This is why you need to approach this activity with wisdom, and inform yourself well before investing in any currency.

First of all, you have to know that online currency trading has a good potential to be profitable. Nonetheless, it is also an extremely high risk activity. This means you can lose a fortune before even realizing it. Even expert forex traders have their ups and downs, because this kind of investment relies also on luck, not only on wisdom, skills and experience. This is why it is highly unpredictable.

As a matter of fact, you should always expect you may lose, so invest only what you can afford. Never borrow any money to use it for buying currencies online. If you stay within your reasonable limits, you won't risk to lose your home and your other assets.

Getting rich is a dream for many, but there are very few individuals who manage to reach this level of wealth. You can try your hand at online forex trading, because it can bring you a good return on your investment. However, you need to learn how to do it the smart way. You need a very good trading software, so that you can set your limits under which it should automatically perform certain transactions.

You also need to keep an eye on international news headlines, because they dictate the evolution of the exchange rate of various currency pairs. A major earthquake might determine important currency rate fluctuations, so you can easily lose a small fortune, if you don't take immediate action.

All these being said, you should also be aware that even experienced forex trading brokers can be wrong. We live in an unpredictable world, so we are taking a very high risk when we bet on currencies and their exchange rates.

A split second can reshape everything, messing up the markets and the investors. If you are on the wrong side of the gate, you are going to lose. Nobody can guarantee you the success, although it is not impossible to achieve.

In conclusion, you can make money with online currency trading, but you shouldn't expect to get rich overnight. Moreover, you should always be cautious and limit your damage as soon as you realize you've made a wrong move.

You should also invest in your education and in a good online trading platform, as these are the two essential tools you can't do without. Forex trading has nothing to do with throwing mud at a wall, hoping some would stick. It is a serious business, so it should be treated as such.

If you think you can't be expert yourself, it's better to join and copy best traders on social platform like eToro.

Rock Solid Tips For Avoiding Personal Bankrupcy

Personal bankruptcy can always be an option for people that have had items, like vehicles, repossessed by the IRS. Filing for personal bankruptcy may be the only option available to you; even though, it can be very hard on your credit rating. Pay attention to what this article is teaching you about bankruptcies and their pitfalls.

After filing for bankruptcy, check your credit report to make sure that it was reported the way that it should have been. You want to make sure that any debts that were part of your bankruptcy are now labeled "BK" so creditors know you no longer owe that money.

Do not try to get clever by paying your taxes via credit card before you declare bankruptcy in an effort to dodge your tax burden. Most states do not look at this debt as chargeable, and you could end up owing money to the IRS. Remember that if you can discharge the tax you can discharge the debt. There isn't any reason to use a credit card to pay the tax bill since the bill can be discharged anyway.

A critical tip for anyone considering a personal bankruptcy filing, is to make sure not to wait too long to seek relief. Delaying a bankruptcy filing can result in potentially devastating events , including home foreclosure, wage garnishments, and bank levies. By making a timely decision to file, it is possible to maximize your future financial options. Getting a clean start faster than you may have thought possible.

When you file for bankruptcy you limit your options for many future loan options. Many banks do not forgive bankruptcy and it shows on your credit report for 10 years. Think twice before making the decision to file for bankruptcy. You might want to defer your bills for a couple of months, instead of hurting your credit for 10 years.

If you have had to file for bankruptcy, you should assess the reasons why to make sure that you do not end up in that situation again. For example, if it was for paying too many bills late, you can set up automatic payments so you will not have that problem in the future.

If you've considered the pros and cons involved with choosing bankruptcy, and you feel that this is the only option you have left, be sure to consider all the personal bankruptcy laws. Don't just sit back for the ride; be sure to work together with your bankruptcy lawyer South Jordan so that you can get the best outcome possible.

Know the difference between Chapters 7 and 13 bankruptcies. Chapter 7 will wipe your debts clean, meaning you will not owe what you file against. Chapter 13 requires you to agree to repay your debts. These debts need to be repaid within three to five years of the filing date.

Personal bankruptcy is always an option. But, because of the effect it has on one's credit, it shouldn't be the first choice. Staying informed about how to handle this situation can save a lot of headache and allow someone to keep their valuables.

Tips On How To Get Cheap Term Life Insurance Rates

How can you get the cheapest term life insurance rates? If you are on a tight budget, and you cannot go beyond it, then you should seriously think about getting the lowest quotes for your life insurance policy. There are a few things that you can do to minimize your costs without compromising the quality of insurance product and service provided by your insurer. So, think about these tips on how to get lower term life insurance quotes that match your budget and needs.

Do Something to Reduce Your Premium

Insurers take into account a number of factors when they calculate your insurance premium. These include your age during the time of application, health condition, lifestyle and occupation. Naturally, a vegan and healthy office worker is expected to get a much cheaper premium, as compared to a construction worker in his 50s. If you are also a smoker, then you might as well forget about your hopes of getting a cheaper quote for your premium. This bad habit does not make you look good to insurers, considering how you are predisposed to a number of ailments in the future.

Although you can never turn back time and make yourself younger, you can try losing the bad habit or going for a less risky job. If you can work your way around improving on these aspects of your life, then you may be offered with reasonable rates for the life insurance policy you are looking to buy.

Get Professional Advice

Sometimes, all it takes is the help of a professional to lead you towards the best rates applicable to your situation. Perhaps, you have a less-than-perfect health history, or you are not exactly within the age bracket that insurance companies qualify to get cheap rates. However, if you ask an expert for advice or get some help with finding an insurance company offering a good deal, then you may snag an affordable rate suitable to your budget.

In fact, you may also consider the possibility of consulting brokers instead of going straight to an insurance company. In most cases, brokers can provide you with a better access to cheap insurance rates. They can offer you with a few options, and you can make your own decision after looking at the rates and additional products involved.

So, if you are still struggling with finding affordable life insurance rates, you may want to apply these tips to get massive savings on your premium.

How To Control Your Finances And Not Vice Versa!

Isn't it time that you take control of your finances? Being in total control of your finances is critical to your continued success and well being. With this free financial planning software , you can get the most for your money, establish sound financial goals and keep your money matters under control.

If you are not ready to sell, don't. If you're getting good money from a certain stock, leave it alone for a period of time. Consider any stocks that aren't performing well, and think about moving them around instead.

The majority of new products include a 90-day, or even 1-year, warranty, as it is; if the item is apt to malfunction, it will likely do so during that same time frame. Businesses makes a killing on extended warranties, and they don't provide good value.

When you are married, the spouse that has the better credit should apply in their name. If you're suffering from bad credit, building it can be done by getting a card that you can pay on time. When both of you get your credit score to a good level, then you're in a position to get new loans but make sure to spread out your debt in an even way.

Your car is a very important purchase that you have to make during your life. Compare different options and go to different dealers to find the best price for your new vehicle. Look online if you're not happy with the prices you find in your general area.

Make sure to save for a rainy day by creating a savings account for emergencies. You can either save for something specific, like your child's college education, or pay off debt with the extra money.

Use a flexible spending account. Flexible spending accounts are perfect for people with medical deductibles, daycare expenses and who purchase over-the-counter medication. These types of accounts allow you the ability to set aside money before taxes to pay for these expenses. However, it is best to consult a tax professional first, as there are usually various stipulations involved.

By knowing how much possessions are worth, it can prevent valuable possessions from being thrown out. It's also important to check on the value items you might not have bought that you are considering getting rid of. Sometimes an ugly vase may be a collectible to someone else. A quick Internet search can give you some information about the value of certain items.

If someone would like to make a purchase but the cost is too high to buy immediately, it might be possible to involve his or her family. When the purchase is for something the whole household can enjoy, like a new television, try convincing everyone to donate towards the purchase.

Financial issues are always a risk, even for people who carefully plan and manage their money. You should find out now what fees and penalties you will face for late or missed payments, so you can prepare for the worst. Before signing a long, one year lease, read the fine print.

To eliminate the most debt quickly, pay off credit card debt first. You may think the best way to pay debts is to pay them evenly, but the higher ones should be paid off first. This can save you a lot more after a while. Many economists expect credit card interest rates to continue climbing in the near future, so this step is critical.

Being the boss of your finances is a very important thing. You can improve your financial situation by following the helpful tips in this article. You should have the ability to control your finances, reach any financial goals you have set and budget your money.

The Basics Of Forex Trading

Forex trading encompasses the various facets of trading in foreign currencies though decentralized financial markets. Nowadays there are various companies specializing in foreign currency trading that offer the facilities of currency analysis, best option based on a person's risk appetite and most importantly the luxury of trading by using simple online tools.

The foreign exchange market analyses and formulates the relative values of different currencies. This market is the biggest and the most liquid of financial markets in the world. Forex trading, however, does contain some risk as it is a volatile market with random fluctuations. Therefore it is important to learn the basics of the market before entering this domain.

Entities that indulge in forex trading include governments, large banks, financial institutions, corporations as well as currency speculators. Forex trading has increased manifold over the past decade especially due to the growing importance of foreign currency as an asset class and a rise in the assets pertaining to pension funds and hedge funds.

Foreign exchange is an Over the Counter market where brokers and traders interact directly with each other; there is no clearing house or a central exchange. The major difference between a stock market and the forex market is that the latter is divided into segments based on access rights.

At the very top of the forex, market hierarchy is the inter-bank market, where the difference between the bid and ask prices are sharply demarcated and unknown to the external entities.

The Unique Features Of A Foreign Exchange Market Are As Follows:

* High levels of liquidity due to high trading volumes
* Spread out across the geographies
* 24/7 operations except on weekends
* A large variety of parameters that control the rates
* Low-profit margins as compared to other trading tools and fixed income tools
* The role of leverage to enhance potential profits based on size of accounts

Is day trading worth it with a CFD provider?

CFD (CFDs) is the acronym for Contract for Differences, which essentially is a contract between a buyer and a seller that stipulates conditions to the effect that the seller is liable to pay the buyer the difference between the present value of an asset and the value at the time of contract creation.

If the difference is negative the buyer pays the seller instead. In a nut shell, CFD trading is actually a process of derivative trading that allows traders and investors to take full advantage of the rise and fall in prices of the underlying asset class and are used as tools for speculating in those underlying market segments. In short CFD trading on currencies is basically the same as general forex trading.

It is therefore highly recommended that you take the time to understand the various nuances of the financial market place and the medium with which you are going to trade before taking a plunge into forex trading. You must try and analyse the forex market, which is a very complex market place using tools such as the International Parity Conditions, Balance of Payment Model or the Asset Market Model. However, none of them provide complete and competent answers to rate fluctuations and volatility.

A Beginner's Guide To Finding The Ideal Business Advisory Service

This article will provide information on how to locate the ideal business advisory service for your specific business. Running a business may seem simple in theory, but the practical management of a company can be far more challenging. In addition to seeing to the everyday task management, there are numerous items to be handled, such as human resources, business planning and customer service to name a few. In order to maintain a successful business and ensure that your business progresses efficiently, it is necessary to have a strong strategic company plan in place. While it is possible to draft this strategy independently, it is recommended that professionals be used to help review the issue from different perspectives.

1. Review Testimonials

Due to the popularity of the internet, many companies and agencies will promote their services using online resources. Not only is this beneficial in locating several agencies simultaneously for consideration, but it also allows you to compare the agencies from the comfort of your home without contacting the companies. The first step to choosing the ideal business advisory service is to peruse their websites to determine professionalism and review testimonials to identify the level of customer service. Many official websites will present with official testimonials discussing the quality of the service; however, some of these may be dishonest completed by the agents themselves misrepresenting the agency. To avoid misrepresentation, it is recommended that you review testimonials from third-party review websites in conjunction with the official testimonials. This will provide varied perspectives regarding the reputation of the agency.

2. Experience And Skill

While hiring newly qualified, inexperienced business advisory agents is not discouraged, it is not encouraged if you are a larger corporation. To determine the company's level of experience and skill, it is recommended that you review the portfolio during consultation. The portfolio is a summary of previous projects and will assist in identifying the type of projects this agency focuses on; for example, are their clients primarily in the advertising industry or the distribution channels field? It is essential that the experience and skill are relevant to your company in order for the agents to effectively meet your needs. Asking questions about the portfolio is recommended.

3. The Cost

Cost is a primary concern for the majority of individuals and should be considered from the beginning. Before hiring a business advisory service, it is recommended that you consider your company budget and determine the amount you will comfortably be able to spend on this service. During consultation with the agency, you should keep this amount in mind and obtain detailed quotes instead of general estimations. Detailed quotes will provide clarification on all items included in the overall amount and will help determine whether or not the service is affordable.

You Can Get Good Advice And Tips About Lawyers Below

So you need some legal representation do you? Dealing with lawyers can be quite the nightmare if you have never done it before. Often times, you may not even understand what they are saying. However, if you use the tips in the following article you can learn how to effectively communicate with your lawyer.

You need to know and learn more about a good personal injury attorneys Las Vegas. Once you find one you are set, but how do you do this. You need to ask friends and family about who they would use. Ask people that you work with if they have any suggestions? With these two or three sources you should be able to find a good lawyer.

You may find that your friends, family, and coworkers can provide a wealth of information when it comes to finding a lawyer who can best fit your needs. Ask around and see what experiences people have had with particular lawyers, or if they have any advice for you based on their circumstances.

A good tip to remember if you're thinking about hiring a lawyer is to take your time and make your search thorough. You shouldn't impulsively hire a lawyer just because you need one right away. There are so many lawyers out there, that you need to be selective to get the best one for you.

Check online to find out what sort of fees are typical for your legal issues. This will help you avoid being scammed down the road. Choose a lawyer who has a good track record and a great deal of experience to ensure that they don't overcharge you for their own time-wasting mistakes.

It is important that the lawyer you hire is one who is experienced on the field you need help with. For instance, if you need a lawyer for a divorce, it would not be wise to hire a lawyer specializing in taxes. When you hire a lawyer familiar with the problem, you need help with, you have a better chance of positive results.

Don't assume that a specialist lawyer is more expensive than a general practitioner. While a specialist might indeed have a higher hourly rate, they might charge you for less overall hours. A specialist will not need to spend as much time learning and researching laws regarding a case that a general practitioner would.

If you meet with a potential lawyer, and he or she states that they will absolutely win your case, thinking about looking elsewhere. There are no guarantees in life, no matter how clear cut a case seems. A good lawyer knows this, and as such, will not make promises they can't keep.

You should wait a while after you meet an attorney before deciding whether or not to hire them. After the first meeting, call a few times to see how long it takes for them to get back to you. If it is not an acceptable time, you should hire someone else.

Make sure you thoroughly research your choice of lawyers. Do not be lazy and settle for the first one that you find. Obtain advice and recommendations from your friends, especially if they are familiar or working in the legal field. Do not hesitate to do background checks and obtain recommendations from the ones you are considering. The more work you put into finding a good lawyer, the better results you will obtain.

When interviewing lawyers, don't just speak to them over the phone. Actually go into their offices and spend a bit of time talking face to face. You can gather a lot of information about someone based on their demeanor. Pay attention to small things. Does the attorney meet your eyes when he is talking to you? Does he smile and seem friendly or is he very closed off? All of these things will have an impact on whether or not you eventually hire the lawyer.

When choosing a lawyer, Google his name to see what information turns up online. Many times you will see complaints about a particular lawyer from previous clients. Similarly, you can perhaps see other cases he's been involved in and the results. Combine the lawyer's name with the city to minimize the chances of getting an unrelated result.

When shopping for the right lawyer, ask plenty of questions. Write down your concerns and legal issues before you meet with him. You want to assess whether he knows what to do for you, and you also want to see how professional he sounds. This should be done face to face.

Settle on the amount of time and money you wish to invest in procuring a lawyer. Any lost income for time off work should also be calculated. You need to put in the work and do research on all the costs that a lawyer will have on your budget. Spending thousands is unnecessary if you can find a way to spend less.

Often times, lawyers can seem like they come from another planet. It can be difficult to express your intentions to them and to understand what they are telling you. If you use the advice mentioned in the article above, you will learn how to better communicate with your lawyer which will make both of your lives much easier.

Are Penny Stocks Right For You?

Many people know that the stock market is a good way to invest, and increase, their money. However, playing the stock market is always a risk, and it certainly helps to know what you are doing. For those wishing to make a small initial investment, the term penny stocks may come up, more than once. You may have heard that penny stocks are a great way to start small, and work your way up to being big. But how do you know they are right for you? How do you find out how to buy penny stocks? How do you know if you want to invest your money in these penny stocks?

Just because someone suggests you buy penny stocks, it doesn't mean you have to take their advice. In fact, before you invest in anything it is always a good idea to get some information on your own, first. Find out about the type of stock that is being suggested, and then look more closely at the specific company that you are considering investing in. Do your own research instead of just following someone elses advice. After all, it is your money not theirs. Your money means more to you than to anyone else, so it is only a good idea to look into your own investments instead of just letting someone else do all the work.

How do you know if they are right for you, if you want to invest in penny stocks? The first step is in finding out more about what penny stocks are. Some brokers make penny stocks sound very safe, as if they always bring in large returns, as if they are totally great. Perhaps none of this is true. Penny stocks are high-risk investments, and there is some potential for investors to enjoy large returns, but there is also some potential for losing ones entire investment. That is what a high-risk investment is a risk. You could lose it all, but you could gain as well.

Because penny stocks are not traded through the large stock exchanges, many do not even know about the existence of penny stocks. Penny stocks are shares in small companies and are not as liquid as other stocks, meaning that fewer shares are traded. Penny stocks are traded infrequently, and this is why some investors fear getting stuck with penny stocks that cannot be sold.

How do you know if penny stocks are right for you? Do your homework, do your research. Look closely at the penny stocks you want to buy, and learn more about buying and selling this type of stock. Your broker is required to give you certain paperwork and information on penny stocks, before you ever put your money into them. Look over this information carefully before making your decision.

If you like the risk, if you like the gamble, if you like the potential, then penny stocks may be the right investment for you. Find out all you can about penny stocks, or any investment, before you throw any money that way. When you make an informed and educated decision, there is a smaller chance that you will regret your decision later on.

Get On Your Feet And Deal With Your Personal Injury!

When you suffer from a personal injury, you may not be thinking about the law. Instead, you may be focused on how to get better. While that is fine, you should also understand how personal injury law works so you are well prepared for what is to come. This article will give you the important facts of personal injury law.

Never forget to include any lost income or wages into your personal injury lawsuit. This means how much time you spent away from work, unpaid or paid at a lower rate, due to injury (mental or physical), not having transportation, etc. If you paid money out of your pocket or took a school loan out, you can be compensated for this as well if you miss classes or have to drop out due to your injury.

Make sure that you hire an attorney that specializes in personal injury law. There are lawyers out there who practice several types of law. It is in your best interest to find one who only practices this type of law. It will increase your chances of success since your attorney will know exactly what he is doing.

Having a law firm that specializes in and have personal injury lawyers Albuquerque. Having attorneys that specialize in personal injury and are well known in town is a plus.

Finding the best attorneys in town is really not that hard. Asking others if they know of someone is a plus. Also going thru the internet and doing a search in Google for personal injury and looking who is ranked at the top of the SERPs and have a 5 star rating is another way to find a great lawyer.

If you are contacted by an insurance company that claims it needs to take a statement for their investigations, refuse to say anything to them. The best thing to do in this situation is to give them the name of your attorney and tell them to call him if they have any questions or concerns.

Consider how big a firm is prior to making a decision. If the stakes are high, you may want the resources of a larger firm. But, if your matter requires more personal attention, a smaller, more affordable firm may be a better choice.

You should find a good personal injury lawyer, meet with them and explore your different options. This approach can lower your stress levels associated with the case and help avoid costs like court fees.

Contact your local state bar and ask whether they have any referral services with relevant recommendations. Of course, you still need to spend a few moments researching any referral that you receive. Check the recommendation's background and qualifications prior to establishing contacts. This is a great way to find reputable professionals in the industry.

Watch what you say. This is especially true at the site of the injury. You have no obligation to tell people who you think is at fault. You also do not need to provide more information than legally required. Making any statements on the scene of the injury may lead to more complications as your case progresses.

As the start of this piece mentioned, the law may be furthest thing from your mind when you suffer a personal injury. You do need to focus on it though, seeing as it will be a major part of your life in the weeks, months, and perhaps years to come. The above piece provided you with helpful advice to help you better prepare for your dealings with personal injury law.

Know What's Covered Before You Buy Car Insurance

Before you can buy auto insurance, you need to know about whats covered in the policy. By knowing this, you can save on your car premium.

Do you need Collision?

If you have a higher priced car, this coverage will help pay for car repairs even if it was your fault.

Your Deductible

The lower the deductible is, the higher your premium will be. This is the amount that you will pay out of your pocket in the case of an accident. Higher deductible amounts will decrease the amount you pay for your auto insurance.

You Dont Need Comprehensive Coverage, do you?

This type of coverage will provide repairs for damages that are not related to collisions. It will cover theft, natural cause damage, vandalism and other losses.

Paying more deductible if you have an accident can significantly save you premium money. This is best for older cars and not newer ones.

Do You Need Liability Coverage

This is an important coverage of your auto insurance policy in the case of damaging property or causing physical injuries. You need the maximum coverage on this so you dont lose anything youve worked hard for.

epending on how much you own, you can decrease on this coverage but keep only enough to cover the most important things.

Covering Medical Expenses

Your insurance policy will cover expenses when someone is injured during an accident. Youre also covered if someone else in another car is injured. The only time to skip this is if you have medical coverage through another option.

If you dont have any insurance coverage for medical, keep this in your insurance policy. You can save by leaving it out but make sure youre covered elsewhere.

Getting the Best Rates from the Best Insurance Company

There are many companies who believe theyre the biggest company with the best coverage plans at the lowest prices but you need to know exactly what the company is like. You need to do research and see exactly how they treat policy holders. Learn how the claims are processed and if your claims are processed on time.

So, where does this Information Come From?

There should be an insurance department in the state you live in, since all states have one. Take a look on their website and review complaints against the insurance companies. You can get information such as how many people have filed complaints and more information to compare them with other insurance companies competing for your business.

Whether your state has an insurance department or not, you can still get information from other locations regarding a companys performance and reliability.

A site like is a good place to start to see what other insurance buyers have experienced with any given insurance company. Youll see there is information on the ratings of the company given by users and buyers, reviews from real buyers leaving information on what theyve seen and experienced.

Click on this link to find out where to get the cheapest car insurance.

The Advantages Of Hiring The Top Accountants In London

If you do not take the time to properly manage your personal finances, it is all too easy to quickly find yourself in hot water. The more that you know about managing your money, the more easily you will be able to achieve your goals, whatever they may be. In many cases, you can gain an advantage by hiring one of the top accountants in London.

No matter what your personal situation may be, you can benefit from the attention of an experienced accountant. For example, if you hope to start your own business, there are many financial matters that you will need to attend to. A good accounting firm can help you get things set up properly so that you are able to track all of the information that you need.

Even if you do not have any entrepreneurial dreams, you may still need help getting a handle on your finances. If you have difficulty balancing your checkbook, or if you find it difficult to plan ahead, then you will need someone who can share their expertise with you to help you get your finances in order.

For example, have you started to plan for your retirement? Do you know how much you will need in the future so that you can retire comfortably? If you are like many people, you may not have given much thought to these matters. However, the sooner that you begin to save, the better.

Even if you can only put aside a small amount, the magic of compound interest will help this sum begin to grow. By putting away as much as you can afford, you can accumulate a sizable nest egg by the time that you are ready to start thinking about retirement.

Finding a way to save money can be a real challenge, especially for people who have a lot of obligations. A good accountant can help you track all of your spending so that you can find some areas where you can cut back and save money. He can also help you come up with a plan of action that you can follow to make saving easier.

For example, you can set up a direct deposit with your bank so that a certain percentage of each paycheck is automatically deposited in a savings account. This way, you do not have to remember to transfer the money yourself. This strategy is just one of the many ways that you can make saving money a part of your regular routine.

A good accountant can also be extremely valuable when it is time to pay your taxes. If you just do them on your own, you might be missing out on some effective ways to keep your tax bill to a minimum. Hire an experienced tax accountant so that you do not end up paying more than you really have to.

These are just a few of the reasons why it is so important to hire one of the best accountants in London. Doing so makes it much easier to get a handle on your personal finances.

Choosing What Company To Invest In Penny Stock Market

If you are to invest in the penny stock market, there are a number of factors that you have to consider before you should truly proceed with such a decision. Unless you have learned enough about the tricks of the trade in penny stock, it would be unwise for you to invest right away in this kind of venture knowing for a fact that you only have limited knowledge in this aspect.

One can actually learn a lot from investing in the penny stock. Yes, there could be some slight intricacies that come with it. However, they are still learnable and should be something that you can also gain significant knowledge from. For instance, before you invest, consider which company you will be investing in. After all, that is the primary and the first rule when it comes to penny stock market investment.

Know your basis before investing in a company:

Before you invest in a certain company, it is important that you check the companys background first. That should be the first thing that you have to consider. It has been noted that the Securities and Exchange Commission has found a number of companies acting on shady operations which are doing some unacceptable irregularities. These irregularities are enough reason for you to re-consider first before you invest in these companies.

One of the unacceptable irregularities that you have to take note here is their transparency and their honesty in declaring their earnings to their investors. You as an investor should be more thorough and more scrutinizing as their reported earnings to the investors. These shady firms are the very reason why penny stock market may be considered to be problematic by some investors.

Investing in such a shady company would surely put you in a difficult situation especially if you decide to liquidate your shared invested in that company. This is what a pink sheet market scenario basically looks like. That is why if you change your mind and rather decide to invest in a small-cap company, it is best that you should be able to check first whether such company has strictly complied with the SEC requirements and regulations.

It is of this reason that you should be weary when investing in a pink sheet market. This is primarily because they have lax regulation when it comes to matters concerning regulation and proper guidelines. Thus, assessing the companys position should allow you to better decide which to invest in.

Tax Strategies For The Self-employed

Self-employment offers a wide variety of pros and cons depending on the sector. In the case of tax returns, the pros outweigh the cons. All in all, one still has to pay his or her fair share of governmental tax. The trick is to find ways of minimizing tax debt on a personal basis while still maximizing the benefits. The legislature has created several opportunities that could help the self-employed achieve this.

In order to make the most of such opportunities, start by maintaining good records. Most self-employed individuals run SMEs (Small and Medium Enterprises). As a result, outsourcing professional accounting services is difficult due to the high charges involved. This does not mean such individuals cannot exercise good record keeping. Start by setting up a valid filing system. Once you receive any tax relevant document, immediately file it in place. Do this diligently all year round, and the result will be a well-set record system.

There is a wide variety of tax software available that offer e-filing. Renowned software such as TurboTax and other leading tax tools can go a long way in helping you maintain good records. Depending on your business, make a detailed comparison of TurboTax features before actually choosing a specific version. Pick one that fits your tax needs and offers proper record keeping features. There are several versions available, but most self-employed will want to use TurboTax Home & Business. This allows them to file the necessary Schedule C to report self-employment income.

Along with a proper filing system, always bear in mind the fact that expenses linked to the business are vital. Always keep records of any and all business expenses incurred, no matter how minute they may seem. A good way to manage petty cash is by making diary entries of all daily expenses. Equally imperative is a checking account specifically used to pay out huge costs. I cases where credit cards are used for payments, keep records. This helps you keep track of card payment so as to request for accurate interest deductions.

One aspect of self-employment tax returns that most people never consider is office space. It is always deductible. Tax laws allow for allowances based on office space, be it at a business location or at home. Specifically, the square footage used up, all recent improvements done, as well as, machinery bought for the sole purpose of office operations, are to be considered when filing tax returns.

Other likely factors to be considered include childcare, legitimate hiring of staff and a proper retirement plan. Childcare is always deductible whether or not one operates from the office. In the case of employing family members, go about it legitimately and offer them the relevant benefits such as college funding or healthcare. Lastly, set up a valid retirement plan. Not only will it help you save up for the future, but also lower your tax liability.

How Accountants In Watford Will Help You Budget And Plan For The Future

One of the most important aspects of making your finances work for you is having a strategy and a plan. You must be able to accomplish this without putting yourself in danger of unnecessary debt. Your plan should include several short and long-term income goals. Your goal will help to give you a set direction when dealing with a monthly budget. The accountants in Watford will help you achieve these goals. In the meantime, the following strategies will help you get started.

Set Realistic Goals

One of the main problems people have is simply dreaming about a good future. Without taking the proper action now, you are leaving yourself open to an uncertain future. Your future goals are what must be used to drive forth your monthly budget in the here and now. One of the most important aspects you can start doing today is creating a hidden emergency fund. This money will be available in the event of an emergency. By having an emergency cash funds available it takes away the need to use high-interest loans and credit cards.

Keep Your Goals Centered

While it may sound like common sense it is important to leave reminders of your financial goals in life. This helps to avoid careless spending on items that are not a necessity. Simple reminders like sticky notes, daily text alerts, even a change jar on the countertop will help you realize the need to save money for the future. You will begin to think of your personal finances first and what you need to accomplish by setting these reminders.

Make Your Finacial Goals Personal

Think about what your family needs? Think about what you will need in the future? Talk to the accountants in Watford about what financial goals they believe are important. However, your goals need to relate directly to you and your family. While future goals are important it is also necessary to budget for daily needs as well. Your accountant will be able to help you prioritize your future financial goals as well as your daily living expenses. For example, while saving up for a new car is an excellent goal. If you do not have the need for a new car in the near future, your money would be better spent getting saved up in an emergency cash fund. An accountant will be able to help you determine how much of your cash can be used for savings and the best type of accounts for it.

It is important to discuss how your plans are working with your accountant throughout the year. You simply cannot set a plan in motion and not check in on it occasionally. Your accountant will hep you measure your success and continually monitor the situation for the best results. It is best to keep a personal timeline to ensure you are on track with your financial goals. Once you have completed a financial goal, do not stop. Talk with your accountant about setting up a more ambitious goal. There are many reasons why it is important to save money, so there is a large pool of goals available. Remember though it is important to keep any long-term debt out of your equation.

If you are looking for a way to make your first million dollars, it is time to start setting those goals today. However, on your way to a million, it is necessary to set up those small goals as well. One of the biggest ways people lose money is by having to pay those monthly credit card bills Start by sealing the majority of your cards away and stop with any type of frivolous shopping. Once this has been done you can begin setting up realistic goals and a proper monthly budget. As you see your goals being made, it will help you to carry on and stay on track. While it may be hard to maintain a daily budget, over time it will become ingrained in your daily life. You will see how your hard work pays off in the many financial rewards. Your first step is to set up several short and long-term goals today. Once you have those figured out, talk to a Watford accountant about realizing them.

The Solution To Your Money Problems

What can you do to get out of the money rut once and for all? The truth is that the way money is designed, you will never have enough of it. You see, the characteristic of money is scarcity. If it is scarce, then it is valuable. Though it is hard to get out of the money rut, with the little that you are making, you can have a great time. How?

You cannot live without spending money. However, if you do not have strict discipline, you will always be short of money. Here are a few things that you can do:

  • Learn to keep a record of what you want to spend your money on. This will help you escape issues such as impulse buying. You also have to monitor and know how much income you've got in a month. Have it clearly noted down. Take note of all expenses, big or small. This step is simply emphasizing the fact that you cannot spend what you do not have.
  • List down your expenditures however big or small they could be. The list includes all the outright bills such as electricity, insurance premiums and mechanical costs of your car. Those expenses you occasionally incur such as watching a movie at the theatre or that cup of coffee you have with colleagues after work should also feature in your list. Having a thoroughly done expense list will enable you identify where that money you never have an account of goes.
  • Once you know the amount of money coming in and going out, you are ready to work out a budget that is affordable to you. Carefully examine your expenses list to figure out which item should be reduced or eliminated. If you are keen enough you will notice something that is not worth being an expense to you.
  • Utility bills are a part of your expense list. Have a look at your home appliances. You can seal your windows and doors to cut heating and cooling costs. Ask for the installation of the latest water heating technology for your home. Do not use the dishwasher or the washing machine for a few items.
  • Discard your old appliances and go for modern appliances that have the Energy Star label and you will never regret it at all. Think the cost is too high? How about you look at it in terms of it as an investment that will save you money for the coming ten years.
  • Consider replacing your old roof with a new one. Improve your insulation to reduce utility costs. Such investments could be costly but will save much money in future.

It takes courage to invest in new technologies such as heating systems because they tend to be more expensive than old ones. However, it is worth it when you realize how much you can save in the end and get on top of your private financial planning.

Frequently Asked Questions About Truck Acident Lawyers

When searching for truck accident lawyers its best if you take some basic information and join it with common sense to see whether your attorney is able to manage your lawsuit to get you what you deserve. Here are three things that you need to look for when considering an attorney to manage a trucking accident case for you.

Where Do Truck Accident Attorneys Spend Their Money and Where Does the Money Go?

Some law firms spend thousands upon thousands of dollars on advertisements attempting to get the greatest number of people to their law firm. Now there is not anything particularly wrong with this until you discover that more cash is spent by the law firm on this promotion than they do locating all useful info for their client's cases and getting the correct research.

Another issue is that some law firms will try to take on too many cases and will thus spend less time on every case that comes in. You want to ensure that you simply go so that you can be represented by them to their full potential with a law firm that does not take on an intense case load.

Truck Accident Attorneys Must Have Trucking Industry Knowledge

Make no error truck accident lawyers need to have an intimate understanding of the trucking industry will likely have the ability to prosecute your case a lot more effectively than an attorney who has little to no experience with it. Why?

The trucking industry is extremely specialized. The laws change annually and there are certain standards and practices that truckers and trucking companies must abide by. The biggest of which is rest time for the drivers (which is mandated by state and national laws). So in order to tell whether or not a trucker or trucking company has broken those laws but make it seem as though they haven't takes a lawyer who has an eye for details and is capable to do the math, which can only be comprehended by those who really take the time to comprehend the business.

Truck Accident Lawyers Have To Know the Difference in Laws

Another large part of your case is seeing whether or not and/or the motorist the trucking company should be blamed additionally need to do with national and state laws. You see while intrastate drivers will be more impacted by state laws, interstate motorists are definitely going to be changed by state and national laws. This can have an important consequence on your case and your attorney needs to understand the difference between the two.

Great truck injury lawyers must have an understanding of these three things to be able to present you in the strongest way possible and get what's rightfully yours. Get into contact with the truck accident attorneys at: to help out with your case.

Pay The Lowest Price Possible For Your Homeowners Insurance With These Tips

Over the past couple of years the cost of getting a homeowners insurance has increased drastically. While you could easily obtain one for about $300 or $400 per year in the past, you need to spend at least $600 to obtain the same kind of insurance now.

That is the reason why it is more important now, than ever before, to make use of the following tips to lower the cost of your homeowners insurance:

Tip #1: Compare Costs If you want to obtain the most affordable home insurance quotes you can get, comparing offers provided by different insurance companies is crucial. Years ago, the only reliable way to get that done was by visiting your local insurance agencies, or by calling them. But, these days, insurance quote comparison sites let you do the job quickly and easily.

To start receiving insurance quotes from top insurers, all you need to do is visit a good comparison website and then fill up and submit a simple questionnaire that requires a few details from you regarding your house and insurance requirements. Certain websites even let you enter deductible amount and qualified discounts before presenting quotes.

By comparing deals from different insurance providers and switching your company to a cheaper one, you can save as much as $500 per month on premium!

Tip #2: Raise Deductible Raising your deductible amount is one of the easiest and smartest ways to lower your premium. By increasing your deductible to $500 from the standard $100, you can save as high as 15 percent on premium. By raising the same to $1000, $2500, or $5000, you can save nearly 24 percent, 30 percent or 37 percent, respectively.

Tip #3: Be Loyal Purchasing all your insurance policies from only one company ensures you more than just the convenience of having to deal with a single agent and company. When you prove your loyalty to your insurer, you can usually avail between 5 and 15 percent discount.

Tip #4: Tighten Safety Most homeowners insurance providers easily give you a premium discount of 5 percent to 20 percent if you install safety features in your house. Security systems, fire extinguishers, window locks, fire alarm systems, security lightings, security doors, smoke detectors are all well and good.

Tip #5: Avail Discounts Make sure that you know what discounts you qualify for before purchasing your policy. In case you are 55 or older, you may be eligible for obtaining a senior discount of 4 percent to 10 percent. If you do not smoke, some insurers can give you a discount of as high as 10 percent. There are many other kinds of discounts insurers provide, too. For instance, if you work as a fire fighter or security personnel, you may be eligible for additional discount.

Note that, in addition to the above tips, there are many others you can rely on to successfully lower the cost of your homeowners insurance policy. However, in most cases, the above tips should be enough to greatly help you.

What To Expect When Applying For A Construction Loan

mortgage broker

When someone has an interest in building a house or fixing up a new one, obtaining the finances to have the project done properly becomes a major concern. If a new home construction project is going to be done or if major renovations are in the works, a construction loan can be a great way to get the money needed to do the work done quickly and properly. There are several tasks that need to be completed before the loan is awarded.

Before someone applies for a loan, they should have blueprints made out showing exactly what the new home is proposed to look like or what the remodeling project will entail. This information can be obtained from the builder the applicant intends on using to do the work. Before they can be awarded a loan, the blueprints will be assessed along with any monetary estimates given to the applicant by the builder.

If the project is not comparable with the amount of the home improvement loans the company has available to borrow, it may not be approved. The amount of the loan should cover the repair, but it should not be substantially more than the amount of the work being done. The home should be used as a primary dwelling or summer home and not for a quick turnaround in the real estate market, or the loan may be denied.

Financial stability is a must when applying for a construction loan. The applicant will need to have a good credit score to obtain the funds needed. In most cases, loan companies will look at the top three credit score corporations, Experian, Trans Union, and Equifax. From these credit scores the middle score will be used to determine if a loan will be awarded.

If there is a co-applicant, the process is done for each person. The lower of the middle scores will be used to make a decision. The score will need to be 680 or above for remodeling loans covering $1,000,000 or less. For projects costing more than $1,000,000 to remodel or build, a score of 700 or 720 will need to be met to get a loan.

Many loan services require the applicant has had steady employment at the same company for at least two years. Any debt the applicant owes will also be taken into consideration. Monthly debt amounts should not be in excess of 45% of the amount of pay made each month.

While applying for construction loans can be nerve-wracking, most people find if they have a solid income and low debt, they will be approved. As long as the home will be used for their residence, and the credit score of the applicant is in the right range, they will soon be able to build or remodel their dream home.

The Value Of Credit Card Insurance Cover

There are two specific cases when you could benefit from credit card insurance cover:

1. Credit Card Theft

In the event that your credit card is stolen and used to purchase goods, you can call your credit provider and inform them of the loss of the card as well as the transactions that were not made by you. It is important to report the theft or loss of your credit card as soon as possible. You may also need to report the theft to your local police station and provide your credit card company with a case number.

The credit card will immediately be cancelled and any transactions performed after the loss or theft will be removed from your transaction history. This means that you will not be liable to repay these amounts. This type of insurance is normally a fixed part of your credit card agreement. However, you may need to select this option when applying for the credit card or take out additional insurance to ensure that you are covered.

This insurance can also provide you with cover in the event of identity theft. However, you will need to provide proof that you are a victim of identity theft.

2. A Payment Protection Insurance Plan

In the event that you lose your income, your credit card insurance cover will make payments on your behalf for a specified period of time or until you are able to afford the repayments. Loss of income could be due to an injury, loss of employment or death.

It is important to read the terms and conditions of this type of insurance policy carefully. Some insurance policies will not provide you with this type of cover if you were fired or if you resigned from your job. In addition, they may not provide cover for some types of employment. For example, free lance workers, consultants and commission earners who do not receive a regular salary or wage may not be eligible for cover. Check out for more information about how to claim back your mis-sold payment protection onsurance.

The financial institution or credit card provider in-house should offer loss of income credit card insurance. Alternatively, you can find an external insurance provider that offers all types of credit card insurance.

If you opt for an in-house insurance policy, the premium will be deducted from your credit card on a monthly basis. You will need to make monthly payment arrangements if you are using and external insurance provider.

14 Creative Financing Methods for Startups

For entrepreneurs with a lot of money saved up, the only obstacle to starting a business is coming up with a viable idea. But many aspiring business owners have the opposite problem — the idea is there, but the capital isn't.

Clearing the startup financing hurdle is made even more difficult by the fact that brand-new entrepreneurs are often turned down for business loans. Traditional bank loans have always been tough to secure, and although loans funded by the Small Business Administration are typically more accessible, it's getting more competitive: The SBA's biggest lending program, the 7(a) program, recently maxed out its funds, and was on hold until July 28 after Congress raised the lending limit, ABC News reported. While business owners are in the clear for now, the growing number of SBA loan applicants means there's a good chance of the program reaching its limits again.

So what's a would-be small business owner to do? There are plenty of other options to help you fund your new venture. Here are 14 options beyond bank loans for financing your startup.

Online lending. Recently, online lending services such as OnDeck and Kabbage have become a popular alternative to traditional business loans. Online lenders have the advantage of speed: An application takes only up to an hour to complete, and a decision and the accompanying fundscan be issued within days. In contrast, the traditional loan process can take weeks, or even months, to complete.Because of this, former U.S. Treasury Secretary Larry Summers said at the 2015 Lend It conference that he expects online lenders to eventually reach more than 70 percent of small businesses.

Factoring/invoice advances. Don't want to take out a loan? Services like factoring and invoice advancing may help ease growing pains for small businesses. Through this process, a service provider will front you the money on invoices that have been billed out, which you then pay back once the customer has settled its bill. Eyal Shinar, CEO of small business cash flow management company Fundbox, says these advances allow companies to close the pay gap between billed work and payments to suppliers and contractees.

"By closing the pay gap, companies can accept new projects more quickly," Shinar told Business News Daily. "Our goal is to help business owners grow their businesses and hire new workers by ensuring steady cash flow."

Product presales. Selling your products before they launch is an often-overlooked and highly effective way to raise the money needed for financing your business. Entrepreneur Priska Diaz was able to raise $50,000 for her company Bittylab with a presale of her Bare air-free baby bottles. The money Diaz was able to raise helped her pay for inventory, and also helped to open some doors in retail and learn about her website's visitors. Though Diaz was able to benefit greatly from this means of financing, there were still some difficulties to overcome.

"The biggest challenge was in coordinating the inventory delivery times from our supplier so that we could start fulfilling orders," Diaz said. "Another challenge was forecasting the number of units we were going to presell, resulting in a shortage. We've now passed the presale stage and sold more than originally anticipated, resulting in back orders."

Friends and family. If you have a friend or relative with some spare cash, you have another potential way to finance your business. Borrowing from friends and family presents an interesting alternative to traditional forms of financing, and can have some unique advantages, including low- or no-interest payments and avoiding the hassles of bank contracts.

Debra Doran, managing partner of the Seattle branch of financial consulting firm CTC Consulting | Harris myCFO, recommended open, frequent communication with potential friend and family lenders to avoid damaging relationships.

"Having a well-thought-out game plan will increase the odds of family members and friends agreeing to be your financial partners," Doran said. "Business success is not assured, but by professionally approaching your family and friends to support your efforts, and communicating frequently on the progress of the business, the chances of maintaining good relationships are significantly higher."

Side business. New business owners can try "double-dipping" as a means of funding their startup. Entrepreneur Alex Genadinik used his revenue from tours he organized on to launch, which builds mobile apps for planning and starting a business. After receiving donations for some of the free hikes he led, Genadinik began to charge for events, where he marketed his new site to hikers.

"I tried everything else before that, including monetizing with ads and becoming an affiliate reseller for outdoor gear, but it didn't quite work," Genadinik said. "This allowed me to work on my project without the distraction of looking for investors."

Home equity loan. For homeowners who have equity —the home's value minus what you owe —a home equity loan is a great option for financing a small business. These loans generally offer interest rates that are both flexible and lower than traditional commercial rates.

"Home equity loans are very cheap, rate-wise," said Al Engel, executive vice president of consumer lending at Valley National Bank. "It is a low-cost form of borrowing that is very controllable by the entrepreneur as far as when he pays funds and redraws funds. The flexibility is tremendous. The risk is, you are putting your home on the line. If the business fails, or you fail to maintain the terms and conditions of the home equity loan or line, you risk foreclosure."

Selling assets. Sometimes, you may have a financing method and not even realize it at first. That was the case for entrepreneur Hamid Saify, who was able to fund his opinion-sharing community, ChoicePunch, by selling a car he had wanted to pass along to his children. Though it was a tough decision, Saify was able to make $30,000 from the sale of the car. That money, in turn, went toward some very important aspects of the fledgling startup.

"I used some of that money to help with the last payments to our design and development contractors," Saify said. "The rest I put into our account and used to help support marketing during our beta launch months."

Credit cards. Business credit cards are among the most readily available ways to finance a startup, and can be a quick way to get your business up and running.

"One of the few advantages is that the minimum payment on a credit card is very low," said Ken Nickel, senior vice president of community lending at Valley National Bank. "If you are a new business who is just starting out and you don't have a lot of money coming in, or you don't have a ton of expenses, you can put it on a credit card and pay the minimum payment."

However, there are some serious drawbacks to consider before using plastic to fund your startup, Nickel said. If a new business gets started and then has trouble making the payments, the interest rates and costs on the cards can build very quickly, and carrying that debt can be detrimental to a business owner's credit.

Angel investors. Those looking to finance their business can always look to an angel —an angel investor, that is. Angel investors have helped to start up many prominent companies, including Google, Yahoo and Costco. This alternative form of investing generally occurs in a company's early stages of growth, with investors expecting a 20 to 25 percent return on their investment.

"The principal advantage of an angel investor is generally that you have a friendlier atmosphere and a quicker decision-making circumstance for a smaller amount of [money]," said Mark DiSalvo, CEO of private equity fund provider Semaphore. "You are likely to get an investor who has strategic experience, so they can provide tactical benefit to the company they are investing in."

Venture capitalists. For small businesses that are beyond the startup phase and already have revenues coming in, a venture capital investment may be appropriate. Fast-growth companies with an exit strategy already in place can gain up to tens of millions of dollars that can be used to invest, network and grow their company quickly.

Brian Haughey, assistant professor of finance and director of the investment center at Marist College, said that because venture capitalists focus on specific industries, they can generally offer advice to the entrepreneur on whether the product is going to fly or what they need to do to bring it to market. However, venture capitalists have a short leash when it comes to company loyalty and often look to recover their investment within a three- to five-year time window.

"They have to make a return and usually have a five-year time horizon," Haughey said. "If you have a product that is taking longer than that to get to market, then venture-capital investors may not be very interested in you."

Winning a contest. Sometimes, businesses can benefit from a bit of luck. That was the case for Roberto Torres and Luis Montanez, who funded a portion of their startup costs for apparel company Black & Denim with winnings from a business-plan competition.

"We utilized the funds to purchase manufacturing equipment that allowed us to scale our products and meet demand," the owners said. "This advantage gave us the opportunity to increase our production and get into bigger players like Stein Mart and Walt Disney World. The competition also gave us access to business experts that asked us the tough questions while allowing us to retain our equity —a perk that would have been very difficult to obtain otherwise."

Renting out your home. Cutting out liabilities is another creative way for new business owners to fund their startups. For Fay Johnson, founder and editor of deliberateLIFE magazine, that meant renting out her apartment. Johnson was able to do this by placing her San Francisco apartment on Airbnb and renting it out for anywhere between five nights and a month at a time. The decision has been successful for Johnson, who has used the money raised to fund the costs of the first few issues of her magazine. Though the move has allowed Johnson to finance her startup, it has not come without its share of headaches, including tight time restraints.

"As an entrepreneur, time is one of your most valuable resources," Johnson said. "When renting, I have to keep in mind that I need to clean and reclean the apartment, and since I work from home, I also have to find a place to work during those days."

Crowdfunding. Crowdfunding on websites like Kickstarter and Indiegogo can give a big boost to the financing aspirations of small businesses. These sites allow businesses to pool small investments from a number of investors instead of forcing companies to look for a single investment. Many sites allow companies to raise money in exchange for rewards or products. Others have an equity-based model in which businesses give up a bit of their share.

Before choosing a crowdfunding platform, be sure to read all the fine print and know what you're getting into. Certain sites require businesses to raise their full stated goal in order to keep any money raised on the platform. Other sites will allow companies to keep any money they raise. Additionally, sites can claim a percentage of any money raised on the site. Sites often also charge a payment-processing fee for money raised.

Grants. If your business focuses on a scientific or research-oriented field, grants from the government may be able to help fund your company. The SBA offers grants through the Small Business Innovation Research (SBIR) and the Small Business Technology Transfer (STTR) programs. Grant recipients are required to meet federal research and development goals, and to have a high potential for commercialization.

Shinar said there are not many downsides to a truly no-strings-attached grant. However, you should carefully read the fine print because grants may require that you give up part of the IT or other intellectual property, Shinar noted. Grants also can be time-consuming, and depending on the sector, the ratio of time expenditure to the odds of payout may be too high. Nonetheless, if your company could be eligible, it is wise to review the options.

Precautions and next steps

While the plethora of lending options may make it easier than ever to get started, responsible business owners should ask themselves how much financial assistance they really need. Companies that receive more income than they truly need should be prudent in how it is used. Shinar urged such companies to make — and stick to — a disciplined budget.

"It's hard to go back later and try to exert fiscal discipline," Shinar said. "It's better to start from the beginning with good corporate governance."

Companies that have received a large cash infusion may benefit from bringing in an experienced partner or board member to help ensure accountability, Shinar added.

As an alternative, bootstrapping your company — building it with existing resources and earned revenue — offers companies a low-risk way to test out their product. If you and your partners are able to work toward creating a functional product in your spare time, you may be able to begin to sell that product with minimal or no cash.

"The advantage of bootstrapping is that you stay the boss," Shinar said. "More importantly, you get relatively quick validation from the market about whether you have a good business plan. Bootstrapping helps imbue a company with operational discipline."

Owners who bootstrap retain exclusive control over their company for a longer time, allowing them to better influence its culture and goals. As your company grows, funds can be put directly back into enhancing the business, rather than into servicing your loans. In addition, they avoid less-than-favorable conditions and terms that might be imposed by lenders or additional partners.

If you bootstrap, however, be prepared and open-minded about moving to the next step. If you remain without external funding for too long, you may be unable to take advantage of market opportunities. Moreover, you risk creating a business that has failed to integrate more experienced minds.

"At a certain point, you need smart partners around the table, and those partners are commonly investors," Shinar said. "If you want to grow really fast, you probably need outside sources of capital. And if you are only bootstrapping, you are missing some of the advantages of corporate governance. You may also miss some lifestyle advantage — you can go on bootstrapping for years without making money. So taking on debt may actually mean that your company can move forward."

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