Archive for the ‘Financial Planning info’ Category
Accepting the request of the customer and give credit, may be a way to increase our sales and create or maintain a business relationship with that customer. However, accepting the credit can be significant problems of liquidity, or the risk that the client does not pay on the agreed date or even not get us to pay.
In the case of large companies, they have a credit and collections department that allows them to efficiently manage credit and collections thereof. But in the case of small companies or businesses, the decision to give credit to a customer is not something we can leave it to intuition, but is a decision that we should assess it.
Let’s look at some tips you should take before deciding to give credit to a customer:
- First must assess whether we are able to extend credit. If, for example, recently we have started our company and we are short of cash, may not be very convenient to sell even to credit.
- The second is to assess the customer who requests a loan, which includes evaluating your time to market, his business experience, credit history, your ability to pay, etc. Information can be accessed through government agencies, credit bureaus, suppliers of the customer, and the same customer.
- Is necessary to assess either the client, however, the depth of the assessment will depend on the confidence we have in the client and the amount of credit. For example, for a single sale of a few bucks, not worth spending so much time and money investigating the customer.
- If after making our assessment we are still not very convinced of the client’s ability to pay, we must bear in mind that there is always the possibility of requesting some kind of warranty.
- Once we agree to give credit to a customer, you must specify clearly the conditions of the loan and, if possible, you should sign a contract that also includes debt and deadlines, including penalties for late payments.
- We avoid possible credit sales, and if at some point we do not have enough liquidity to extend credit to accept, we must be frank and kindly notify the customer that the problem you ask us.
Finally, a council relates to the granting of credit is to have a program or software that allows us to store information and customer history, and includes detailed records of customer behavior to credit, for example, how were slow pay, how often fell behind in payments, etc.
So that we can better manage our credit and collections, and, above all, we have information that will help us better assess our clients when we subsequently requested a new loan.
The growth of liquidity that has the micro finance industry (MFI) in the country, especially in larger institutions such as municipal savings and credit (CMAC), emerges as the stock market can be an efficient alternative for future funding.
It is proven that micro finance offers significant business opportunities with financial sustainability, which may accrue in the medium term, increased funding in the Bolas de Valor’s de Lima (BVL) and actively participates in the stock market.
Participate in the stock market and listing on the Lima stock exchange, are excellent showcases with Peruvian MFIs to strengthen multilateral organizations to international credit and aid global. Are letters as the only leaders who serve the economy segment is growing every day, becoming the Peruvian economic dynamism support. We refer to small and medium enterprises (SMEs) already exceed the country, 3.6 million units of production and trade, including the MSE (Micro and small enterprises).
The legal framework is given and financial transparency as well. Only question that decision-making by the various directories to enter the fascinating world market. We know that the Lima Stock Exchange has become for many companies in a very effective tool for funding.
A possible involvement of the microfinance industry in the LSE would be the synergy of two bastions of social development: Firstly, more funding for the IMF and the other hand, greater inclusion, under the micro finance industry promotes business formalization and social inclusion. That is, more profitable with better social impact.
List on the bag, means to acquire shares in various companies. That is, a micro finance institution becomes a shareholder of a corporate enterprise that in the long run, will mean greater capital for MFIs. But it also would allow corporate organizations to participate financially in the micro finance business, perfect partnership to achieve objectives that go hand in hand with business competitiveness, development of corporate governance, adequate internal controls, and management efficiency and increased funding for specific projects.
Are precisely those institutional investors who will also develop knowledge and technology transfers that would benefit MFIs listed on the LSE? Examples are taking place in the world that is increasingly globalized. Only the most competitive MFIs survive the changes brought about by the globalization process and one of those changes, it is precisely the participation of the micro finance industry in the stock market. Only a matter of time, nothing more. Faced with global changes, the organization to move faster, with time and vision, will withstand the changes in the IMF. Do not forget that in other countries, microfinance institutions are turning to the stock market to finance its operations and Peru is no exception.
While it is true that lending rates, the rates charged by banks for loans to customers, has no major changes to the debtor, there are institutions that offer a lower rate, so the recommendation is that a restructuring of the debt if the difference between institutional and other larger than two percent, said program director BA in Economics from Institute Technological Autonomy De Mexico (Item), Germaine Vargas.
“If, for example, hired 25-year mortgage and the bank will charge you a rate of 16% per annum for the valuable you decide to pay off your debts and mortgages with other banks because the interest will fall down more than half a percentage point,” said the scholar.
Scotia bank HSBC, for example, is some entities that have lower interest rates mortgage loans, with the aim to gain a larger market share.
If you are thinking about starting a restructuring of your debt, it is best to pay the full debt you have in credit card and start the process of restructuring the mortgage debt, he said.
“If before it paid 8500 pesos per month for your home and going for 20 years at the time of the restructuring will give you freedom in your earning potential when 7.5 A00 reduce that monthly payment. It can also consider implementing other credit or finance a car,” Item said the teacher in it.
Another aspect to consider is that you consider what your financial future, i.e., you do not say goodbye to your job and you will have a solid economic future to handle the renegotiation of credit, said Rojas.
If you are looking for debt restructuring in this credit card options offered by banks to customers, according to data from the National Commission for the Protection and Defense of Financial Service Users (Conduce).
A few days to begin preparing a budget before shopping for purposes such as shopping for the end of the year. Of that percentage of residents who already have a cost estimate, 42% make a special budget for each person on your list, and 36% make their purchases based on a predetermined number, a detailed survey of 7 and 10 to 1050 adults living in the United States in July.
Consumers who are struggling to control their cost of prizes for this year, is a prepaid gift card as a way to stay within their financial means, therefore, 64% of respondents agreed to spend one of these cards can help them stay in the budget for now.
“Gift cards make it easier to follow a financial plan when giving to family and friends, gifts that will be greeted by 85%. From the consumers will appreciate a gift card from a recognized brand to buy something that is really want and need. Actually, 65% of respondents chose to receive a branded card not present ‘not important’ as a scarf or cologne, “said a regional executive director of Consumer Products in Latin America and the Caribbean Visa, Vicente Echeveste.
The survey also revealed that 42% of consumers still have the bottom of the cabinet which he received a Christmas gift last year and have not even opened, while 38% said they had returned at least one gift received in 2009 and 28% admitted that he gave to others at least one of the gifts you received last Christmas season.
Prices gifts that do not really want to be very high, considering that 24% of respondents felt that the value of the goods does not want to and not used can be 50-100 dollars, and 12% feel that their gifts are worth more than $ 100.
Why many people have bad habits with money. In a way I’ll advise on the basis of techniques or tools that I gave good results. The idea is that you begin to choose among those options that best suit your needs and even create your own financial plan.
Why have financial problems?
Not to the point of talking at the level of the national economy, but rather trying to take as the axis focus to the subject or the person holding the money, we can say that A or key facto in this process is you. Robert Kiosk mentioned in many of his books that people are accustomed to bad money management. At this point I strongly agree with him. But the key question is: What factors contribute to our financial ignorance?
The answer is simple: financial education they gave us.
Until today I have not seen in schools and universities to touch issues about money management and personal finance. No topics such as taxes, banking. Issues that we deal with almost 80% of our lives. In other words, they are forgetting an important education 80%.