Guide to Finance

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Control Your Computer Using

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Most people can afford to devote 10 percent of their net income to installment debt, not including mortgage or rent payments. If you pay out more than 15 percent, you need to cut back; if more than 20 percent, you are headed for serious financial trouble.



Don't accept more credit than you can afford. Unused credit is counted against you when you apply for a loan or other credit. Keep one or two credit cards preferably with low interest rates. Put them in a safe-deposit box or place where you don't have easy access.

When you do make charges, have an index card, or some sort of record of each purchase you make during the month. As you record each purchase, total the amounts. When you get to the amount that is what you can pay off for the month, stop charging. For example, if you charge $300.00 for the month, make sure you can pay $300.00 when the bill comes due. This will give you a good payment record, plus eliminate finance charges and new debt.

Never charge anything under $25.00 unless you are trying to build new credit and improve your credit report. Make sure that you pay it off at the end of the month. Several small purchases can get out of hand where you lose track at the end of the month and can't pay it off. When credit grantors are determining your creditworthiness, they usually estimate your net income at 80 percent of your gross income (before taxes). Your expenses (mortgage, rent, bills, etc.) should not exceed 70 percent of your net income. Variable expenses such as food, gasoline, utilities, and so on, are estimated to be about 20-25 percent of your net income committed to all your expenses. If you exceed this amount you are probably overextended on your credit.

Credit problems are devastating, so you want to make sure that you do everything possible to avoid them. Not all credit problems are the responsibility of the consumer. Lost mail, computer errors, and delays in posting payments are the most common problems blamed on the creditor. If you don't receive your statement, call the creditor and let them know. You should review your statement every month to make sure your payments are credited properly and that there are no erroneous charges.

Unreported address changes, underpayment of a bill, missed payments and exceeding your credit limit will raise red flags to the creditor as well as tarnish your credit report.

If you find that you are beginning to experience financial difficulties, make sure you contact the creditor immediately. By communicating with the creditor, many times they can assist you in reducing the interest, or deferring a payment if the situation appears to be only temporary.

Knowing the ins and outs of credit will help you build your credit and financial portfolio. It also will help you get a game plan and stay focused to eliminate any future problems.
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Customer service is hugely important, and it starts with the sales meeting. You are the expert in your industry and the expert regarding your specific product/service. If you allow the prospect to do all the talking and ask all the questions, you lose the opportunity to show the prospect how well your product will fulfill their needs and solve their problems.

You are not doing your potential customer any favors by allowing them to take control. Also, when you come to the meeting with an agenda you look very professional and organized.

You can have several intentions with your agenda, but the main one should be to get the sale! For me, since I so enjoy my fr'ee consultations, I have to additionally use my agenda to keep me on track so I keep the length of the meeting reasonable.

On your agenda, you should have open-ended questions. These questions do not have a "yes" or "no" or other such specific answer. Examples of open ended questions include:

- What is it you most want?

- Would you please tell me about _______?

- What problem are you currently experiencing with your ______

- How are you currently handling this problem?

- If you could change something about your ________, what would it be?

- How do you think I could help you?

Then, if you want more information or if you sense there is something more to what they have already told you, you can ask:

- Could you please tell me more about that?

- Anything else?

The most important skill you will need to be a great salesperson is LISTENING. The prospect will list for you all their selling points ? all the reasons they need your product. Many people need to be heard. If you really listen, you may get the sale based solely on this ability. Also, you may have heard that you should only talk 20 percent of the time, but I think this depends on your product or service. For coaches and consultants, the prospect often wants to hear us talk ? they are getting fr'ee advice they would otherwise have to pay for! Just do not over-do it.

Here is an example of a basic sales meeting agenda ?

1. Ask open-ended questions that will give you the information you need to sell them your product, and will demonstrate to the prospect that you care about their needs.

2. Tell them just enough about your product or service so they will begin understanding how your product could benefit them ? resist the urge to vomit information on them, and don't talk about yourself! Unless they ask, they usually don't really care about you.

3. Close the sale by putting their needs together with your product. (What I do is demonstrate my coaching by coaching the prospect around the issues they mentioned to me, demonstrating value. I then summarize what we could work on together and how they would benefit, drawing on the needs they already outlined earlier.)

One more question you can ask, if it fits into your agenda, is:

Do you know anyone else who could benefit from my services?

Then you need to ask for the sale!

Copyright (c) 2007 Audrey Burton
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About Author
Both Deborah Mcnaughton & Audrey Burton are contributors for EditorialToday. The above articles have been edited for relevancy and timeliness. All write-ups, reviews, tips and guides published by EditorialToday.com and its partners or affiliates are for informational purposes only. They should not be used for any legal or any other type of advice. We do not endorse any author, contributor, writer or article posted by our team.

Deborah Mcnaughton has sinced written about articles on various topics from Debts Loans, Mortgage and Anti Oxidant. Deborah McNaughton is an author and credit expert. She is founder of Financial Victory Institute, which specializes in financial education. Deborah has programs to train individuals to become credit consultants and teach financial seminars. Visit. Deborah Mcnaughton's top article generates over 33100 views. Bookmark Deborah Mcnaughton to your Favourites.

Audrey Burton has sinced written about articles on various topics from Small Business, Work Life Balance and Credit Loans. Audrey Burton, Small Business Coach, is ?The Tigress?. Get her FR'EE Special Report, ?Closing the Sale is Not Complicated!? and her FR'EE monthly email newsletter at . Audrey Burton's top article generates over 74000 views. Bookmark Audrey Burton to your Favourites.
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