Do-It-Yourself Financial Planning

Tips for DIY Financial Planning from Business Network Long Distance.

The fight for financial freedom isn’t fair. No matter what kind of spin you try to put on it, the path to comfortable living seems either impossible or too long to attempt. Many people these days are spending copious amounts of money going to see professional financial planners for advice on how to get their money situation under control. But let’s be honest, while a financial planner can show you how to prioritize your spending and how to go about consolidating your debt, surely there must be a way to plan your finances that doesn’t cost you visits to a professional?  This article has been written to open some people’s eyes to the fact that it is possible to properly plan your finances from the comfort of your own home.

The main aim when planning your finances is to make everything as simple as possible. There is nothing worse than sinking so far into depression that you can’t see a way out. Whether you are in debt and looking to get out of it of if you are simply looking for a way to keep a little more spending money aside each month, the simpler you make your planning the better the result you will get. From the beginning, you need to be realistic. I’ll start with the example of a single income situation, firstly you need to calculate what your net pay is per month. If you’re self employed or not on a regular pay, always calculate the worst-case-scenario, what is the lowest you might get paid. Then go through your monthly bills and write down the ones that are a fixed amount. Do the same for all other bills but use the worst-case-scenario again, what is your estimation of the most that those bills might be. Add everything up and subtract it from your net income total.

Next onto the incidental expenses you might run into on a monthly basis. These might include petrol, car upkeep, public transport fares, food etc. make a list of all the little expenses you might need money for in a month. Even things that you’re not sure you might need to buy. Don’t add general spending money to the list, be specific. Always add more to the totals if you’re not sure as you can fine tune it later. Again, subtract your total from the money left over from your bills. Don’t worry if you’ve gone into the negative figures here, we can fix it.

Once you’ve got your expenses total in front of you, obviously any money that is left over is your profit for the month. In the event that you have nothing left or have gone into the minus figures, the next step is to minimize your expenses. Pretty straight forward, huh? Any incidental expenses that you might not need, remove them. And any expenses you know you will have, like food and petrol for example, really get down to the lowest spend on them. How much do you really need to spend on them? Your aim should be to save at least $50 per month after spending money. All that extra builds up and gives you a nice petty cash at the end of a few months!

If you are in a multiple-income situation, the same process applies. You need to start building up that petty cash tin. There will always be unexpected expenses, everyone knows that. In truth, the basis of comfortable living is really the knowledge that you can afford to pay for something unexpected.

To finish, all of this can be done on a piece of paper if you want to invest a little time, or you can lay it all out on an Excel spreadsheet. The way that saves the most time is to use a Financial Planning software program, you enter the numbers and the program gives you an automatic monthly planner. Whatever way you choose to go, always remember to keep it as simple as possible. When you’re following a plan, the pressure on you will decrease. What more could there be to comfortable living?

Remember you can always save money on your long distance bill by contacting Business Network Long Distance.

Putting the Customer First

The key is putting customers first. All successful business revolves around this belief and acts accordingly. To that end, we at Business Network Long Distance follow all Federal Communications Commission (FCC) guidelines and regulations, especially when protecting our clients.

To ensure our customers are getting the best service we follow the rules that the FCC has put into place.  Specifically, several regulations regarding phone switching from one provider to another The Telecommunications Act and FCC regulations hold corporations accountable for the actions of their employees. This includes telemarketers.

To legally switch service between providers, the new company must perform one of the following:

·         Verify oral authorizations through an independent third party.

·         Provide and obtain written authorization from the consumer; or

·         Provide a toll- free number for clients to call confirming the switch.

Third party verification is required to ascertain certain personal information including verification data. It is also required to verify that you are authorized to make such financial decisions. This is especially critical in a business environment where multiple lines and the company’s organization are concerned. Confirmation is needed to ensure that you with to change providers and that you understand that you are authorizing a company change, not simply upgrading an existing service or consolidating a bill. This question protects consumers from possibly misleading information. Former and current provider information is necessary to complete the switch.

A letter of Agency “LOA” may be written or electronically sent. It is used to confirm a consumer’s desire to change companies. Like the telemarketer verification information detailed above, it requires some personal billing information. The Letter, though, authorizes the new provider to act as the Agent of change in switching your long distance service. It may not be part of promotional materials or advertisements (except incentive checks, under certain circumstances). It is important that the LOA, as a legal document, detail and explain all local, local toll, and long distance providers being switched or affiliated.

The final method of authorization is to establish and use one or more toll- free numbers for electronic confirmation. The lines must be dedicated to that purpose. Calling the line connects the consumer to a live or automated voice unit that will record the required information detailed above for verification purposes. Calls which authorize a provider switch must be placed from the telephone line(s) in question.

These safeguards have been put in place by the FCC to protect consumers from illegal practices. All companies operating within the law follow these regulations.

For quality long distance you can trust contact Business Network Long Distance.

Searching for your Next Investment Property?

Are you a business owner that looks for property investments?  Then we have some tips for you!

Finding a bargain investment property on paper is only half of the process of property investment. The other half of real estate investing is going down to the property to examine the real estate investment property physically for defects either in terms of the construction and legal title and other liens that can be on the property. You do not want to spend lots of legal costs later to undo the bad lemon you bought into. This article will highlight five possible things to consider when searching for your next investment property.

Firstly, unless you find a property that is really run down and you want to tear it down to its foundations, you want to look out for properties that might have potential electrical and water piping problems. The reason why this is critical is that, wiring and water piping is usually hidden behind walls and other furniture fixtures and repairing them can be a very costly affair since you have to hack into the walls and run the piping and wiring if the problem is very serious. If you are new to property investing try to bring a electrical engineer along with you when you are doing some property inspection.

Secondly, foundation problems are usually harder to spot. When walking around the property, look for cracks appearing at the side of the house and the foundation that goes into the ground. Look for large unusual holes found at the side of the property and cracks on the exterior paint of the building. You might want to bring a civil engineer and a contractor along to figure out how much it would cost to fix the property if you suspect the repairs involved will be substantial. You can also bring them along to give a “grim estimate” to the house owner and bring down the cost of the property.

Thirdly, roofing problems can be a persistent nightmare to you and your potential tenant if you are purchasing the real estate for tenancy purposes. When inspecting the house, look around the ceiling near the windows and around the edges of the walls to look for new paint or yellow spots or cracks with water in them. Most sellers would be smart enough to eliminate the water bubbles after a heavy rain when trying to sell the property, but it is always important to figure out if there is a major leaking roof which might cost you are lot into repairing it. Use this defect to negotiate the price of the property further if you are interested in the property.

Fourthly, another reason why the investment property in question might be a bargain might be because there are legal problems associated with it. Common ones include, multiple owners that cannot agree whether to sell or not. Litigation here would be futile and you should avoid such property once you learn about it.

Another problem might be a lack of clean title. Did you know that the seller can be selling you only the building without the land or maybe there are existing tax liens on your property or some other liens that can prevent you from getting good title to the property? Spending some time chatting with a reliable real estate attorney to learn about common real estate problems in your area can save you lots of legal problems later.

Fifthly, bankruptcy of your seller or one of the part owners of your real estate may depending on the legal proceedings of your state affect your ability to transfer title quickly. Most states make it a requirement that the receiver of the bankrupt has to agree so pay careful attention to the bankruptcy legislation of your state. That being said, sometimes the banks are willing to sell you at a bargain so as to recover the bad debts quickly so do your homework before purchasing such an investment property.

In conclusion, these five pointers can be used as a starting point for you to evaluate your property investment. Spend some time to think rationally about the properties that you have seen and see if they have any of the above flaws and consider if you want to continue purchasing them and whether the costs that you may incur in fixing them will justify the discount of the property to the market value. Above all, take massive action today and pursue your property investment dreams.

These pointers and tips brought to you by Business Network Long Distance, your trusted business partner.

Productivity Loss

A business cannot compete if it does no stay on top of new technology.  If it fails to stay up to date, it will fall behind the pack.  Advancements in telecommunication has revolutionized human existence, because of it many companies have attempted to go wireless.  The idea of course is to gain an edge or at least stay even with the competition, but this has not been the experience for many who have chosen this path. For them, it’s been more like going backward instead of forward.

By going wireless many companies find that the mobile device becomes a constant in meetings, office conversations, etc.  When the cell phone should be put away and used for personal time, it becomes an excuse since it is also their business line.  This opens up games and all other applications to be used on company time on the company phone, however passed off by a walker-by as a business duty. 

Loss of productivity becomes one of the largest issues with a wireless company.  The company also sees a loss of funds because of the expense cell phones charge as well as if the employee has their phone lost or stolen.  Finally, with all the information that is now stored on the cell phone because it is the business phone as well, if anyone does steal the phone, information loss can be a security threat to the entire company.

The aims and objectives of going wireless are to make the company simpler when instead it makes for a more complicated model of communication within the company. 

If you are concerned about the price of you landline contact Business Network Long Distance to save money on your long distance bill. 

Quality Excellence Program

Business Network Long Distance employees are sought out and hired for their concern for excellence and the need to satisfy our customer base. We care about our customer’s needs and their security.  There are no corners cut when it comes to the quality assurance process we implement for every customer we provide with our services. Every sale we make is triple checked to ensure that all standards were met throughout the entire five step quality process.

The five step quality process we use here at Business Network Long Distance is a practice we have perfected over the years. Step one of the process is to record and review one hundred percent of the calls that are made by our sales representatives for maximum quality assurance. Step two is to use a live third party verification company to confirm that our customers wish to use our service after a customer decides that they would like to take advantage of what we offer. Step three is to immediately call the customer back to validate the sale and that they were in fact the person who authenticated the change. Step four is another layer of protection for our customers where we will actually place a forty-eight hour hold on any changes to ensure that the customer does not change their mind, but if they wish to do so they can cancel before the sale gets processed. The fifth and final step is for an automatic review and then a manual review to guarantee that the sales representative did their job properly and that all five steps of the quality process we in fact followed.

Here at Business Network Long Distance we have a training regimen that every new employee will have to endure before they will have the privilege of being considered a Business Network Long Distance employee. Our staff takes pride in the service that we are providing and the close working relationship we enjoy fosters an environment that makes it a delight to show up to work each and every day. It is our hope that each and every customer we encounter is thoroughly satisfied with our service. 

Automatic Extension Requests For Businesses

Some Tax tips from Business Network Long Distance, your trusted business partner.

The internal revenue service has recently been taking steps to cut down on clutter and streamline the tax filing process. Now they’ve simplified business tax return extensions.

Automatic Extension Requests For Businesses

In past years, some businesses had to go through a lot of paperwork to file request for extensions to file annual business tax returns. This included filing partial extension forms such as forms 8800, 8736, 7004 and 2758. I get a headache just thinking about it. Apparently, IRS agents got one as well and have decided to do something about.

The internal revenue service has announced it is doing away with all the different forms for filing requests for an extension to file business tax returns. Now, all businesses can use one form to get an automatic six month extension. Form 7004 is the document you will need. It is entitled Application for Automatic 6 Month Extension to File Certain Business Income Tax, Information and Other Returns. Okay, so the IRS hasn’t figured out short titles. This is still a positive step in reducing the morass of forms typically required to get extensions.

To use Form 7004 for your 2005 tax filings, you must file it by the date the tax return filing is due. You are then automatically given a six month extension to file the return. Importantly, the extension is only for the filing of the return, not the payment of any tax due. If you owe tax, you still have to the amount due by the original filing period. Failure to do so will lead to penalties and interest being applied to the amount you owe when you finally get around to taking care of the tax returns.

End of the World?

One is tempted to predict the end of the world coming soon. I don’t know about hell freezing over, but the actions taking by the IRS in the last calendar year are the stuff of myth. First, the IRS went to bat for the victims of Hurricane Katrina, even issuing detailed instructions on how to claim their losses on past tax returns to get refunds to help them out. Second, the IRS actually raised the mileage allowance in the middle of the year to give business travelers a larger deduction because the IRS felt gas prices were to high. Now, the IRS is eliminating unnecessary and frustrating procedures to make tax filings simpler. The end must be near.

Stay smart with your money by saving on your long distance bill with Business Network Long Distance. 

Home Based Business Owner Tips for Success

1) Attitude--

One very important factor in running a business is your attitude towards it. You should treat your business like a business.

This is very important whether you work your business full-time, or part-time. A very close friend of mine, who is also a colleague, is a mother of 4 who works her home business around her family. In this case, she has put her family first, and at the same time, still been able to develop her business.She works part-time, but she has a full-time attitude. To put it another way, if you have a lacking attitude, you'll have a lacking income. However, if you have a business attitude, you'll have a business income.

Keeping your attitude in mind while running your business is one of the first steps to ensuring your success.

Being successful working part-time on your business, or working full-time, is more than achievable. However in saying that, it is highly unlikely that working in your "spare time" will achieve you success.

2) The Environment In Which You Work--

Keeping with the attitude principles discussed above, it is necessary to remember that while you are working from home, you should make sure that you have a space to call your own; your own "business at home" office, free from distractions.

Keep the theme going with a comfortable office chair, and a well laid-out and organized desk. Stationery supplies will also be of assistance, so be sure to include the following in your "home office":

- Pens
- Highlighter
- Hole Punch
- Stapler
- Sticky Tape
- Note Book(s)
- A system which will enable you to easily and efficiently store your physical files and documents.
- Ring Binders
- Manila Folders

Do you have a fast internet connection? If not, consider the use of a broadband internet connection. Anything you do will take a certain amount of time, and your time is a very valuable asset. Faster internet means you will have more time for other things.

3) Schedule--

Dividing up your spare time between your business, your family, or your "significant others" will require a carefully planned schedule. Just like office hours in which you would work, when you allocate time for work, make sure that you work during this time. Equally important is to make sure you have time for other commitments - time with your family, exercising, education, and leisure time are all equally important factors in your life. Its also a good idea to keep in mind why you are doing what you are doing. For example, if you are starting your home business to spend more time with your family, you don't want your work time consuming valuable family time.

With a home business, the only "boss" you have is yourself and your schedule. Lets say for instance that you are working during your allocated work time, and you have unexpected visitors, or people calling you. You have to make a choice; are you really committed to running your own business? Are you committed to business success? Your choices in these types of situations will govern whether or not you have a "business attitude", or a "hobby attitude".

However, you may need to adjust the way you make your choices. This is especially true in a family environment. In this instance, it may be necessary to discuss with your partner and/or children an agreed period of time which is classed as business time, in which you will not be interrupted. It may also help to print or write down this schedule and place it somewhere prominent so as to inform all family members of your work schedule.

4) Describing Your Business--

Make sure that when asked about your business, you are able to describe it concisely; a strong and powerful one or two sentence about your business that someone can repeat easily about describing your business to others. A company slogan or "tag line" can also be invaluable for promoting your business; take the time to create a unique and memorable tag line or slogan.

5) Knowledge Of Your Services Or Products--

You now have your product and your service in which you sell, whether or not you actually use your product or service you sell, it is a wise decision to make sure that your knowledge of your product or service is intimate and well-founded. For instance, if you sell ebooks, then ensure you know the content and the value in which it holds; if you sell software, ensure that you know how it works, "inside and out". In doing so, your reputation will develop as someone who provides quality information about a product or service, and because of this knowledge, you yourself can become a preferred supplier.

However, it may not always be practical to use certain products (as an example, a man may choose to sell wedding dresses), in which case the seller wouldn't be a product or service user, though in saying that, the seller can still have extensive knowledge of the product or services benefits and features.

6) Administration--

It is essential to implement good record keeping practices.

This can include tasks such as consulting a tax adviser who can advise you on the best and most optimal way to set up and store your financial records, as well as which records need to be kept. In addition, your adviser could also recommend record keeping systems which can help you in achieving a more efficient and simpler means of organizing this aspect of your business.

You may also be told advice on the most effective arrangements and set ups for your banking necessities. In doing so, you will most likely be advised to seek out separate bank accounts for your business.

If you use various logins, passwords, and usernames, it would be a wise decision to keep track and store this various information.

The tools and methods in which you track these are varied; from a simple paper notebook to free and commercial software.

7) Protection For Your Computer--

Your computer houses all your important business data, and is also the lifeline of your business dealings. In saying this, it is vital that you protect your computer.

Pieces of software such as virus scanners, personal firewalls, anti-spyware and adware, and even an email scanner, should all be implemented to help with the protection of your computer.

8) Obtaining A Domain Name--

For any home-based, online business, it is more than just essential to have a domain name for your business, it is vital. There are many domain registrar companies out there. Take your pick.

9) Processing Of Your Payments--

Any online business will need to the ability to accept payments. Payment processors such as Paypal, 2Checkout, and Clickbank, all offer multiple ways to accept payment, including the ability to accept credit card payments online.

As an online business just starting out, this is the most effective, efficient, and economical way to get started in accepting online payments. As your business starts to grow and develop, it may be necessary to look into obtaining your own merchant account for transactions.

Also, it may be worth while taking into account other forms of currency online, such as eGold.

10) Email Accounts--

The more professional and trusted your online home business appears, the more likely your customers are going to do business with you. One of the most easiest and simplest ways to do this, is to use an associated email account. After obtaining your own domain, it is possible to create your very own associated email account.


We want you and your business to be successful here at Business Network Long Distance.  Contact us today to save money on your long distance bill so that you have more money for the other necessities.