Are you a dental professional or healthcare provider in need of working capital? The simple solution could be accounts receivable factoring.

Until recently, individual doctors, dentists and physician groups could easily go to their local bank and get all the working capital they needed.  But, while banks still loan money for that purpose, getting a loan or line of credit can be an uphill battle.

The ‘credit crunch’ has caused a major tightening in underwriting parameters at banks nationwide.  banks typically require a minimum credit score of 685, the practice must have a track record of profitability, and start-ups are excluded. Businesses who would have easily qualified for a line of credit six months ago are getting turned down.

The main problems with a bank loan are: it creates debt on which you pay long term interest at high rates, a low credit score locks you out of qualifying, and it often requires a personal guarantee and additional collateral.

Factoring is an excellent means of acquiring needed cash flow.  Medical receivables factoring is the business of buying third-party accounts receivable at a discount so as to make a profit from collecting them. There are very positive differences between bank loans and factoring.

• Factoring is not a loan. It is an off-balance sheet transaction so the factoring fees are a deductible expense.
• Personal guarantees aren’t required, as they are for a bank loan.
• Funds can be received within a week of applying, provided all documents are received in good order.
• With factoring, additional collateral is not required to be pledged.
• Funding is only limited by the company’s pool of receivables, as opposed to bank financing, which usually loans a maximum amount.
• The credit of the business or its owners is not of major importance to the factoring company.
With factoring, funding is limited only by the amount of third party receivables the professional has on its books.

Third party receivables are those amounts due from insurance companies like Blue Cross and government programs such as Medicare and Medicaid.  With medical invoice factoring, the healthcare provider submits a batch of invoices to the factoring company and receives an advance at a rate that is determined by the contract.

The advance rate is typically 75% - 85% of the estimated net collectible value of the invoices.  The remaining amount (the reserve) is remitted back to the provider upon collection, less the factoring fee.

Are you a healthcare provider or dental professional in need of an infusion of working capital? Referring the best resources for medical receivables factoring is just one of the many money management strategies I provide to my clients to insure they achieve their financial goals and build wealth for their long-term financial freedom.

If you would like a consultation regarding your practice or business contact Sandra Simmons at 727-448-1011 or email me at info@MoneyMgmtSolutions.com . Or visit my website at  www.MoneyMgmtSolutions.com.

If these actions weren’t so downright dangerous, they might be humorous. Are you making these mistakes with your hard-earned cash?

1. They never figure out how much money they actually need each week to do better than just pay their bills. They don’t have a budget set up.

The correct definition of a BUDGET is: the calculation of the amount of money needed for an area [organization or household] to function and achieve its purpose. If you are satisfied to just  pay your bills, and you don’t pay yourself first into some type of savings plan, you will make other people wealthy and you will stay poor.

Every supplier you pay is in business to make a profit. You should run your business and your household the same way: like a business that is expected to make a profit. The income target must include a profit or the enterprise will go broke and fail.

2. They don’t work out ways to make more money than they currently need, and then do whatever it takes to execute the plan.

By UNDER estimating the amount of money needed to do better than just break even, they typically set their income target too low and lose money by living on credit instead of going into action to raise their income. Anyone can find ways to make more money; it is often the “willingness to do whatever it takes” that is the problem.

There are two classes of wealthy people. The large majority of wealthy people are working all the time. They have a purpose they are pursuing, and it isn’t money. Money is a sub-product they expect from their work. Their goals and purposes are the driving force in their lives.

The small minority is often called the “Idle Rich” and they are bored to death. They have seen it all, and done it all twice over and there is no thrill left in life. Think about it. If you had done everything you dreamed of and owned everything you could possible want, and were spending your days sitting by the pool in some swank hotel nursing a beverage with a little umbrella in it, would you wish you had some productive work to do? I’d bet my next few paychecks you would.

3. They habitually spend more money than they make.

Using money to buy the “appearance” of having more money than you actually have is a dangerous activity. I call this type of spender a Gratification Groupie. This can catch up with you quickly and eventually drown you in debt. This causes constant worry about money and makes for lots of sleepless nights. Money truly cannot buy happiness. But doing something productive and worthwhile and knowing you are appreciated for it can make you feel like a million bucks.

Most truly wealthy people are not interested in appearing to be wealthy, they are too busy having fun helping others in life and making more money as a result of that. Rich people always pay themselves first, have cash stashed in several places, are always interested in being productive and expect their productivity to produce more income. They don’t worry about money, and they sleep well at night.

4. They don’t figure out what they need to buy in the future and then set aside a little money each week so they can pay cash for the purchase later.

Buying something with a credit card that you can’t pay off when the statement arrives is committing your future earnings to the credit card company. You are then working for the credit card company as an economic slave.

The correct way to buy things, especially big ticket items, is to set aside a little each week till you have the cash to pay for the item, and then go out and negotiate a big cash discount. The guy with the CASH IS KING!

I recently did this when I bought my current car. I found the exact car I wanted. It was 2 years old, had 21,000 miles on it and was still under warranty. The dealer wanted $29,500 for the car. I got it for $17,500 and got an extended warranty thrown in on the deal. Don’t buy new cars. The second the front tires move off the dealer’s lot onto the street, it becomes a “used car” and loses about 25% of its value.

5. They buy products and services based on WANT rather than on NEED.

Buying decisions should be based on how your purchase of the product or service can help you produce additional income for you. Honestly, do you want the latest cell phone that offers text messaging and email retrieval because your friends have one, or do you need it to be more efficient because you are out of the office traveling to close the next business deal?

6. They don’t put money into a long-term savings plan so they have it for use later in life.

If you are relying on other peoples’ future production to pay you Social Security payments so you can retire, that is really taking a gamble.

Despite the fact the government says the cost of living is going up 3 – 3.5% a year, the truth is that it is going up 8 – 12% a year. You have to make that much more income just to stay even. Why does the government say it is only 3 – 3.5%? Unfortunately for the senior citizens, it’s because they government has to raise Social Security payments each year by the cost of living increase they quote. The Social Security system is already bankrupt and those living on Social Security are headed in that direction by going in the hole 5 – 9% every year. Are YOU planning on retiring on Social Security payments alone?

7. They never develop multiple sources of income. If one source dries up they are in trouble financially.

The old saying “don’t put all your eggs into one basket” holds true today, especially for income sources. Look for products or services that you can add, or business ventures you can get involved in that are ethical, and have a great chance of producing a consistent income. The best type of income is “residual income” where you create something that continues to generate income for you while you are off doing other things.  For example if you wrote a book and sold it on the internet as a download where potential customers could buy it 24 hours a day around the world.

8. They get stressed out about how little interest their bank pays on savings accounts while they are getting killed with much higher interest debt by carrying balances on their credit cards.

If you have substantial credit debt, you are better off using excess cash to reduce the debt and stop the high interest payments instead of trying to earn interest from the bank. As you pay off your debt, you should also keep enough cash on hand to cover a few months of living expenses and the unexpected emergency.

Once the debt is gone, or will be soon, then start investing the excess money where you can get real growth. I use a Certified Financial Planner to invest my money for me so I don’t have to do all the research and trading actions. I let the expert do what he does best while I am busy making more income.

Now don’t get me wrong, I think investing in real estate is great if it provides more cash flow in than what you have to pay out. The truth is that any real estate is a liability as long as you have to make payments on it. Only when it is paid off does it become a true asset.

9. They worry about “the economy” in general.

I’m amazed that people are actually more worried about “the economy” than they are about their business or household failing financially. They worry about what the media is reporting about “the economy” which is something they can’t control, while never looking at how they are can affect the economy of their own business or household, which is something they CAN control.

A rise in unemployment is no reason to worry. Small business creation of new jobs far outweighed the loss of jobs in big corporations, according to the latest ADP report. A failing bank is no reason to panic. Banks get bailouts from the FDIC and other investors. No one is standing by to bail out your failing business or household. That is entirely up to you. So stash some cash in a safe, in a bank, or better yet, a tax deferred retirement plan, and sleep well at night while the bad news about “the economy” rages around you.

10. They expect to survive financially without taking full responsibility for controlling their financial future.

There is a very simple solution to money problems. Cut expenses, increase your income, and correctly manage what income you do get. It’s not only about how much money you make, it’s what you do with your money that determines your financial condition.

Correct money management is something educational institutions don’t teach. People get false information and bad advice about how to handle money. Then they make these silly mistakes, get into trouble, try to solve the problem using credit, create more trouble, and then go looking for debt relief.

Fortunately there is a proven, inexpensive, easy-to-install, easy-to-learn, easy-to-use money management software system that can reverse all the money management mistakes a person has made in the past, and keeps them from making those same mistakes in the future. It is an old-school system that your great grandparents used before the days of credit cards. Very wealthy people know and use this system today.

Sandra Simmons, President of Money Management Solutions, Inc. specializes in helping business owners and individuals manage their money to achieve financial freedom. For more information about her system, claim your complimentary copy of the Money Control Solutions Guide.

© 2008 Sandra S. Simmons. All Rights Reserved.

I collect the credit card offers that land in my mailbox. You might think that is nuts, but I am always researching the latest come-on that my clients may be tricked into applying for, especially if they are looking for some debt relief.

Here is the latest one, no names mentioned. Just glance quickly at the overall message and get a sense of what you think they are offering. And then answer this question.

Is this offer a trick or treat?

It is designed to look like a spectacular long term 0% interest offer. Most people actively engaged in money management and seeking debt relief automatically assume they can get this 0% deal on a balance transfer from another high interest card.

But look again, read the fine print like I always do, and here is what the offer is really saying.

The 0% is NOT for balances transferred, but is for PURCHASES made on the card which adds to your debt. The interest rate on the balance transfer is 8.99% compounded daily, plus a hefty 3% charge for transferring the balance.

Read even further and you learn that the new debt you are carrying at 0% interest (the new purchases) must be paid off first, before they will apply any portion of the payment to the balance transfer at 8.99%. And of course, they always apply your payment to any finance charges first before applying what is left to reducing the principal. No debt relief there!

My opinion is that this is another cleverly worded offer, presented in a way that makes it appear that you are getting a great interest free, long-term loan. Just another trick to hook the consumer who didn’t bother to understand what is clearly stated in the credit card offer when you read what is actually there.

Successful money management includes understanding the correct actions to take with your money. Educate yourself by reading the fine print on all documents that concern your money so you clearly understand what they mean before taking action.

Sandra Simmons, President of Money Management Solutions, has years of experience helping business owners and individuals manage their money to achieve financial freedom. Claim your FREE Debt Reduction Solutions Guide

© 2008 Sandra S. Simmons. All Rights Reserved.

Okay, so you are in debt and your creditors are screaming. How do you handle it and get debt relief without having a nervous breakdown? The best practice is to use a simple debt relief solution tool called Dateline Paying.Dateline paying is a simple method of paying oldest bills first, based on the due date. The dateline tells you how far back in time your past due bills go. And yes, credit card debt should be treated just like any other past due bill. There are a few simple steps to this strategy that anyone can do.

1 – Make a list of all your past due bills and credit card debt. Use a report from your accounting program or a spreadsheet of some kind so you can sort them by due date. Be sure and put in a bill for more than the minimum payment for each credit card or line of credit.Make the credit card bill for the amount you want to try to pay over the few weeks before the payment is actually due. For example, if your minimum payment is running at $400, put a bill in for $600.2 – At the end of each business week, carve off 15% of the income to use to pay past due bills and debt.Use the remaining 85% to pay current operating expenses to keep the doors open, the lights on and the telephone ringing to get in more income. Be sure and use some of the 85% for promoting your products and services to keep customers buying, and set a bit aside as a cushion to handle emergencies.

3 – Use the 15% to pay the debt by dateline – oldest bills first.

Always use a portion of it to pay suppliers and part to pay credit card debt.

4 - Pay a bit against credit card debt each week using on-line paying.

Why? Because you stop the daily interest compounding on the amount that you paid. This can save you a lot of money in unnecessary interest charges over time. It also keeps you from being late on your payments and avoiding the late payment charges. In addition, it eliminates the scrambling to come up with a big chunk of cash to pay the credit debt on the week the statement says the payment is due.

5 – Pay past due bills from suppliers – oldest bill first.

The only exception is a supplier who refuses to ship more product that you need in order to produce more income, or one who is threatening legal action. Those are dangerous situations that must be handled immediately.

6 – Work out how to raise your income so that you have an increasing amount of money to use to work this debt relief solution strategy.

Systematically working at paying both ends of the dateline, 15% to past due bills and 85% to current operating expenses, gradually moves the dateline forward to present time until you are current on your bills and out of debt.

You can easily see this dateline paying strategy working for you if you make a graph of the total debt you owe and plot the figure each week so you can see the amount of debt coming down. Not only does it help you confront the debt you created, it validates the actions you are taking to get that situation handled.

Sandra Simmons, President of Money Management Solutions has years of experience helping business owners and individuals manage their money to achieve financial freedom. Claim your FREE REPORT “7 Fatal Money Management Mistakes Business Owners Make”

© 2008 Sandra S. Simmons. All Rights Reserved.

Here is a way to get rid of the IRS and never have to file another income tax return; or corporate return for that matter! Every dime you earn would be in your paycheck; no taxes withheld. It’s within your power to make it happen!

There is a tax bill before Congress right now that would abolish the IRS and get rid of income taxes, corporate taxes, death taxes, estate taxes, etc. It is called the FairTax Act and I am here to tell you it is not only fair, it would solve our country’s economic problems overnight. Here’s a snapshot of how it works.

First I do want to say that The FairTax is resisted by a vocal minority precisely because it will do what it claims in eliminating the IRS, the more than $300 billion in tax return filing costs, and the corruption of the current system. Make no mistake, that adjustment will be hard for tax lawyers, special interest groups, lobbyists who make millions from our current tax system and those in Congress who see the current tax code as a way to get your campaign contributions to buy your votes.

What is the FairTax?

The FairTax is a retail consumption tax that is charged when you buy something new. It is a transparent tax. That means that the tax will be on your receipt in plain English so you can see it.

Right now you are paying those taxes when you buy something, but they are hidden in the cost of the item by all of the goods and services that go into making that item from raw materials to packaged product. Those are called embedded taxes because they are hidden from your view. Under the FairTax Act, you would be paying the same price for a loaf of bread but the loaf would have a lower shelf price and the tax would be added at the cash register and printed on your receipt.

Is the FairTax actually fair?

Yes, the FairTax is fair. In fact, it is really much fairer than the current income tax. You can control how much tax you pay simply by deciding what items you are going to buy.

Wealthy people spend more money on more expensive items than other individuals. The FairTax taxes them on these purchases. Tourists and illegal aliens, who pay no taxes now, would be paying their fair share every time they buy something. Someone who deals in cash and never reports it on an income tax return would now pay taxes on their income when they spend it at the cash register.

And yes, the government would still get as much tax revenue as they do now, but it would cost us a lot less to run the government. In addition your Congressional Representatives who spend millions of your tax dollars to buy the votes of special interest groups by voting for insane programs, like studying the mating habits of wooly wingas, would stop. (A wooly winga is a made up name for an animal in case you were wondering.)

The FairTax would have a positive effect on the U.S. economy.

With the penalty for working harder and producing more removed, American businesses will experience a new era of economic growth and business expansion. Hidden taxes are history, Americans are able to save more, and businesses invest more. The FairTax, as proposed, would bring U.S. companies back home as it would no longer be an advantage to have U.S. companies in foreign countries hiring workers for low wages that Americans should be doing here at home for a fair wage. In addition, other international investors will want to invest here to avoid taxes on income in their own countries, which would further spur the growth of our own economy.

The FairTax would have a positive effect on wages and prices.

Americans who produce goods and earn wages are currently required to pay significant tax and compliance costs under the current federal income tax. These taxes and costs both reduce after-tax wages and profits and are then passed on to the consumers of those goods and services in the form of price increases.

When the FairTax removes income, capital gains, payroll, and estate and gift taxes, the pre-FairTax prices of these goods and services will fall. The removal of these hidden taxes may also allow wages to rise. Exactly how much prices will fall and wages will rise depends on market forces. For example, in a profession with many jobs and too few to fill them, wages will likely increase more than in fields where there are too many employees and not enough jobs.

Workers would bring home what they earn.

It would put more money in the pockets of every U.S citizen by eliminating the income tax. There would be no deductions from what you earn to pay federal taxes, Social Security or Medicare. If you earned $100 you would get paid $100. Business would no longer be burdened with paying additional taxes on employee wages for Social Security/Medicare.

The FairTax has a positive effect on Social Security/Medicare.

Under the FairTax Act there would be plenty of money available for both these programs. Like all federal spending programs, Social Security would operate exactly as it does today, except that its funds come from a broad, progressive sales tax, rather than a narrow, regressive payroll tax.

Employers would continue to report the wages they pay to each employee to the Social Security Administration simply for the determination of benefits. The move to a reformed Social Security system is eased while ensuring there is sufficient funding to continue promised benefits.

In the meantime, Social Security/Medicare funds are no longer triple-taxed like they are under the current tax system: 1) when payroll taxes are initially withheld; 2) when those withheld payroll taxes are counted as part of the taxable base for income tax purposes; and 3) when the promised benefits are finally received.

The FairTax protects low-income and lower-middle-income families and individuals.

Under the FairTax Plan, poor people pay no net FairTax at all up to the poverty level! Every household receives a monthly prebate check that is equal to the FairTax paid on essential goods and services [groceries and medicine], and all wage earners are no longer subject to the most burdensome tax of all, the payroll tax.

The FairTax protects senior citizens.

Seniors do very well under the FairTax. Low-income seniors are much better off under the FairTax than under the current income tax system. Some people incorrectly believe that people who live exclusively on Social Security pay no taxes. They may not know it, but they are paying hidden corporate income taxes and employer payroll taxes whenever they buy anything. Under the FairTax, seniors pay $0.23 out of every dollar they choose to spend on new goods and services. Plus, seniors, like everyone else, receive the monthly prebate check, in advance of purchases, for taxes paid on the cost of necessities.

Yes, The FairTax CAN really be passed into law!

Do you have the right to vote in this country? Passing the original 16th Amendment and the income tax wasn’t easy, and repealing the income tax and the 16th Amendment won’t be easy either. That is why the FairTax has undertaken to build a grassroots movement and grassroots alliances to support the effort. But this will only happen when the American people rally behind the effort, throw off the yoke, and demand that their congressional representatives correct 90 years of wrongs done by the income tax.

What you can do RIGHT NOW to make sure this bill gets passed.

First, go to the website www.FairTax.org and sign the petition to let Congress and the President know that you want this bill passed into law.

Second, while you are on the website, look at the congressional scorecard to see whether your state congressional representatives support this bill. If they don’t, write them a letter and tell them that you think they should vote for it and that you will be watching this scorecard to see how they stand come election time.

Third, buy The FairTax Book: Saying Goodbye to the Income Tax and the IRS by Neal Boortz and Congressman John Linder. Read it so you understand what this bill actually says. The book is easy to understand. Then give it to a friend to read and ask them to pass it on.

Fourth, if you hear anyone, especially a politician, saying that the FairTax Bill will hurt the poor, or help the rich, or hurt senior citizens, then politely tell them that they either (A) have not read the FairTax Bill and understood it, or (B) they are intentionally misleading the public, so they must have a personal vested financial interest in keeping the current tax code in place.

Fifth, pass this article on to everyone you know and encourage them to join the grassroots movement to get this bill passed into law. Remember, our politicians serve us, we don’t serve them.

Sandra Simmons, President of Money Management Solutions, specializes in helping business owners and individuals manage their money to acheive financial freedom. Claim your FREE Report “7 Fatal Money Management Mistakes Business Owners Make (And How to Avoid Them)”

© 2008 Sandra S. Simmons. All Rights Reserved.

It’s tax season AGAIN, and you should be looking for those tax deductions that can legally lower you tax bill.

Here are some of the typical deductions that you want to make sure your tax preparer knows about so you get the write-off.

2007 Mileage Deductions

Business Mileage 48.5-cents per mile
Charitable Work Mileage 14-cents per mile
Medical & Moving Mileage 20-cents per mile

Dependent Education Expenses

There are two tax credits available to help you offset the costs of higher education by reducing the amount of your income tax. They are the Hope Credit and the Lifetime Learning Credit, also referred to as education credits.

To learn about these credits, who can claim them, what expenses qualify, and more, visit the website www.irs.gov and in the search bar type in either “child education expenses” or Publication 970.”

For dependents in daycare through middle school, deductible expenses do not include tuition. However, after-school care expenses and a few other types of expenses are deductible. Ask your tax preparer for advice and be prepared to supply the name, address and federal tax ID number or social security number of the care provider.

For each dependent, your tax preparer will need the child’s full name, date of birth and social security number.

Schedule A Itemized Deductions

If your itemized deductions exceed your standard deduction, then you are allowed to take the greater of the two. Here are the standard deductions for 2007.

$5,350 – Single or Married filing Separately
$10,700 – Married filing jointly or qualified widow(er)
$7,850 – Head of Household

Here is a partial list of Schedule A deductions – for details visit the website www.irs.gov and in the search bar type in “schedule A” and look at the instruction form:

1. Mileage (not claimed as business mileage on another form)
2. Medical expenses
3. Charitable Contributions (there are new record keeping rules that apply for cash donations)
4. Mortgage Insurance premiums for contracts issued after December 31, 2006 (this is NEW!)
5. Mortgage Interest & Points
6. Real Estate Property Taxes (on residences not used for business or rental)
7. Sales tax you paid on retail purchases
8. Investment interest on money borrowed for a property held for investment
9. Job expenses you paid as an employee (if you are not filing Form 2106)
10. Tax preparation fees paid to a professional

Schedule E Deductions for Rental Properties

If you own rental properties then the income and deductions go on Schedule E.

Here is a partial list of Schedule E deductions you can take on rental properties - for details visit the website www.irs.gov and in the search bar type in “schedule E.”

1. Advertising
2. Auto & Travel
3. Cleaning & Maintenance
4. Commissions
5. Legal & Other Professional Fees
6. Management Fees
7. Mortgage Interest
8. Other Interest
9. Repairs
10. Supplies
11. Property Taxes
12. Utilities

While we must pay some taxes, it’s smart to use a professional tax preparer and be sure you are getting the maximum allowable deductions to reduce your tax bill.

Sandra Simmons, President of Money Management Solutions, Inc. specializes in helping people manage their money to achieve financial freedom. Claim your FREE Report 7 Fatal Money Management Mistakes Business Owners Make (And How to Avoid Them)

© 2008 Sandra S. Simmons. All Rights Reserved.

 Transcript of Money Management Software Video Demonstration

Welcome to the Demonstration of the Money Management Solutions Business Edition software program.

Congratulations! You made a good decision when you decided to explore this program.

When it comes to money, cash flow can be a frustrating subject.

This program is a simple tool to help business owners and executives get relief from the frustrations of managing their company’s cash flow.

The average business owner gets frustrated trying to figure out how to control cash flow to achieve 4 basic goals.

1 - Increase the company’s income,

2 - Have enough money to pay all the bills on time and get out of debt

3 - Expand the company without going into debt,

4 – Make higher profits to pay themselves more money.

Using the Money Management Solutions program, achieving these goals IS possible!

This program works as a companion to your existing accounting system to manage your future cash flow. Standard accounting programs record your cash flow from the past.

This financial planning program works as a companion to your accounting program, and looks toward the future. Financial Planning occurs BEFORE the money comes in and BEFORE it is spent.

This is a simple program that helps you take control of your cash flow and predict your financial future.

There are 5 modules in the program; a module is a part of something that is combined with other parts to form a larger system or thing.

Let’s take a look at some of the features in these modules

Find out how much you are really spending. This determines your budget.

Find out how much money you are really making to pay the company’s expenses.

Discover for yourself why you are ahead or BEHIND in paying your bills. Learn the actions you can take to improve this situation.
Find out how much money you actually have to use to do financial planning each week, and learn the secret of always having more cash on hand than bills you owe.

Find out how much you really owe in bills and other debts. You can easily download your bills from QuickBooks®, and past due bills are easily seen by the due date box turning red

Deciding which bills you want to pay is easy. Click the box by the item you want to pay; the program automatically enters the payment. And you get a warning if you are overspending this week’s financial planning portion for bills.

This program teaches you the secrets of how to make your money make MORE money for you.

Learn the secrets to not overspend your budget.

Have money set aside in the bank for later.
 
Have money to increase sales through promotion activities.

Be able to pay ALL your bills and not miss any, and have plenty of money in savings accounts.

Can this program help you create extra money? Absolutely!

Print simple reports right from the program to help make your financial planning decisions fast, easy and profitable.

This program is easy to learn. There is a series of training videos built right into the program  that trains you to use it in less than an hour. And the program is easy to use. There are navigator buttons for working in each module of the program. Or you can use another special feature in the program: an interactive financial planning flowchart that walks you step by step through the planning actions in sequence. And, it has interactive buttons that can be used to go directly to the proper screen to do that step.

Learn the 7 simple steps to always have enough cash flow so you never have to be frustrated about money again.

This program is an investment in your financial survival. Buy it, use it, and you will be well on your way to achieving YOUR financial goals.

Learn more at http://www.moneymgmtsolutions.com

© 2007 Sandra S. Simmons. All Rights Reserved.

Click here to see our Money Management Software Demonstration Video

http://www.moneymgmtsolutions.com/popup_video.html

It is a fact that small business money management has always been an area that has been neglected to some degree by the small business owner, because he is obviously primarily concerned with trying to create his business in the first place.

If you’re like most business owners, you’re frustrated with seemingly working harder every year, just to keep up with paying the bills, and never gaining the security of having a cushion of cash to deal with emergencies, or the freedom to buy the things you want. After all, you probably got into being a business owner for the freedom it provides, but not for the financial instability that unfortunately often comes with it.

One thing that small business owners are not aware of is that it’s not how much you make, it’s what you do with it that determines your financial condition. If the subject of small business financial management is tackled properly, you can leverage the power of your business in a way that your business can really take off. You will find that the most successful business owners are also very intelligent in this area of small business financial management.

It may be surprising to you that small business money management is NOT done with accounting software. Accounting software only looks back into the past, recording what has been made and spent after the fact. Accounting systems cannot tell you how to manage your money to your best advantage. They only tell you, after the fact, if you did well or made mistakes.

This means the agreed-upon financial system that we rely on to help us, only has the ability to tell us what happened in the past - not how to handle our money in the future to fix money management mistakes and get better results. This puts the company or individual in a position of being controlled by the money - always making financial decisions based only on how much money is left in the bank.

Small business money management means looking toward the FUTURE and actually planning out and controlling the flow of money that comes in and goes out of a business to the best advantage of the business.

Ideally, you should be using your money in such a way that it helps you to make even more money. Many common financial management actions tend to keep companies cash poor and in a dangerous financial condition. There is a science to controlling the flow of money to create wealth. Very rich people know this science.

There is only one money management software program on the market that teaches you this science. The revolutionary new Money Management Solutions Money Management Software makes using this science to control your money very simple. It is simple and easy to implement in any business.

Small Business Money Management software should help you increase profits and build wealth. Using this unique small business financial management system, a business owner can pay their bills on time and get out of debt, expand their business without going into debt, make higher profits, put away cash savings, have money for emergencies, and pay themselves more money. Who doesn’t want that, right?

Sandra Simmons, President of Money Management Solutions, Inc. specializes in helping people manage their money to achieve financial freedom. Claim your FREE Report 7 Fatal Money Management Mistakes Business Owners Make (And How to Avoid Them)

© 2007 Sandra S. Simmons. All Rights Reserved.

Do you feel like every dime you make gets sucked into a black hole to pay bills and leaves you asking yourself, “Where did all the money go?” Want to know an age old secret?

You have to make the money before you can spend it!

How do you do that? It’s called INCOME PLANNING. Here are some steps you can do every week to make more money.

RESEARCH YOUR MARKET – First, find out what products or services your customers want and then provide that. One way to find out what they want is to look over your sales receipts, and find out what product is selling the best. Ask the customers 1) why they bought the item, and 2) what they expected it to do for them. Now use what they said in your advertising to promote that product.

PROMOTE TO YOUR MARKET – There is an art to promoting something so that it will be responded to by your customers. Promotion does not necessarily mean offering a discount. It’s more important to find out why a customer wants or needs what you have to offer, and what they will base their buying decision on. Price may not be as important as fast delivery and dependable service.

Find inexpensive, but effective ways to promote. Collect business cards from potential customers, and send them a personal letter letting them know how your products/services can benefit them. It is one of the least expensive, most personal promotional actions you can do. A series of postcards mailed at regular intervals to current and potential customers can also be very effective.

Another great way to get new business is to ask your satisfied customers for referrals. You can make it fun for your customers to participate by creating a referral game they can play, where they get something in return for a certain number of referrals who buy. Let your customers help you out. They really do want you to do well in your business.

SELL AND DELIVER - Selling is easier when you are genuinely interested in your customers and want to help them. ASK you customers what they need and want. Then it becomes much easier to sell them that product or service. For example, a family of 4 who wants a van to cart the kids and their equipment around to sports activities is going to walk off in disgust if the salesperson is showing them 2-door sports models, despite the fact that the sports car is a good deal.

Once you’ve sold the product or service, fast, courteous, professional delivery is key to customer satisfaction. This is especially important if you are in a service business. Delivering what you promised, when you promised it, can mean repeat business and referrals for new business.

PREVENT THE WASTE OF RESOURCES - For every dollar you agree to spend in your business, ask how it is going to bring $5 or more worth of income back into your business. Carve out a percentage of the income every week to fund a promotional budget and then figure out the most effective ways to reach your customers within the budget. It is no laughing matter when the income you worked hard to earn gets wasted on things that do not give you a return on your investment.

REPEAT SUCCESSFUL PROMOTIONAL ACTIONS – Look back at when you were last making the most sales. Find out what your successful actions were at the time and do those actions again.

Focus your time, energy, and creative thinking power on planning how to get the money in. That gets the CASH FLOWing in the right direction and puts your attention back on servicing your customers and you will enjoy your business even more.

Sandra Simmons, President of Money Management Solutions, Inc. specializes in helping people manage their money to achieve financial freedom. Claim your FREE Report 7 Fatal Money Management Mistakes Business Owners Make (And How to Avoid Them)

© 2007 Sandra S. Simmons. All Rights Reserved.

Need a debt consolidation program? You are not alone. Here are 5 tips on reducing debt that you can do right now.

1 – Knock Off Using Credit

If you haven’t done this one, then this is the place to start. Put the credit cards and line-of-credit checks under lock and key, and operate as if you don’t have them at all. Figure out how to make more income and pay cash instead. This is the single most effective action you can take to start your debt consolidation program.

2 – Never Commit to Spending More Than Your Income

When you pay for an item with credit because you don’t have the cash, you are committing your future income to pay the credit company. Then you experience economic slavery. Ask yourself if you just want the item or if you really need it to increase your production of income. If you need it, figure out how to make the cash to pay for it over a short period of time, instead of buying on credit. Find ways to increase your income and use it to pay both current expenses and pay off credit debt.

3 – Always Pay More than the Minimum Payment Required

Your debt consolidation program will be most effective if you carve out a minimum of 10% to 15% of your income. Use this money to reduce debt. Set a target of paying 3 to 5 times the minimum monthly payment on every credit card. Set aside some of the payment money every week until the statements arrive. It’s always easier to save small amounts over 4 weeks than to pay a big bill all at once.

Your debt consolidation strategy should include paying more on the highest interest rate card. Combine that with paying off low balance cards as fast as possible. As you pay off a card, use the money you were paying on that card against the highest interest rate cards. Don’t cancel a card, as this lowers your credit score. Just keep the card locked away and don’t use it.

4 - Never Pay Late or Spend Over Your Limit

Do not destroy your debt consolidation strategy by getting hit with late payment or over-limit fees of $25 to $39 on which you’ll pay interest. Plus, if you pay over 30 days late, that black mark stays on your credit record for 7 years – a harsh penalty to pay.

Recently a Vice President of a U.S. bank stated that last year over 24 Billion dollars was paid out in interest, late fees and over-limit fees on credit cards. Do you think the credit card company really minds if you pay late or go over your limit? If they didn’t want you to spend over the limit they could have declined the charge, right?

5 – Cut Back on Expenses

Reducing debt requires as much cash as possible, as fast as possible. Look closely at where your income is being spent and cut back on any expenses that do not contribute to the production of more income. Before you spend, figure out how much money that purchase is going to bring back in to you, your family or your business.

TIP: If you are a business owner, always promote your business to everyone – don’t cut back on that activity.

Correctly managing the money in a business or household to ensure its survival takes more than a debt consolidation program, but this is a great place to start. There are other steps that you can take to increase income, pay bills on time, have cash reserves for emergencies, increase profits and pay yourself more money. Who doesn’t want that, right?

Sandra Simmons, President of Money Management Solutions, Inc. specializes in helping people manage their money to achieve financial freedom. Claim your FREE Report 7 Fatal Money Management Mistakes Business Owners Make (And How to Avoid Them)

© 2007 Sandra S. Simmons. All Rights Reserved.

Most business owners have a terrific, on-going, love-hate relationship with their accounting system or its software. The reason for this, in my opinion, is that accounting systems actually have a dangerous little betrayal mechanism built into them that is secretly masked as something that is “supposed to help you.”

What is this betrayal? Accounting systems cannot tell you how to manage your money to your best advantage. They only tell you, after the fact, if you did well or made mistakes. This means the agreed-upon financial system that we rely on to help us, only has the ability to tell us what happened in the past - not how to handle our money in the future to fix money management mistakes and get better results.

You might think the subject of accounting seems complicated and mysterious. Accounting is simply recording what occurred after money came into a company or a household. It keeps track of how much money came in and where that money was spent; pure mathematics, no thinking involved.

Any standard accounting system is actually a look back into the past. It tells you how much was made or lost, and how much money is currently owed. While this is important to know, it can put the company or individual in a position of being controlled by the money - always making financial decisions based only on how much money is left in the bank.

On the other hand, financial planning is done by looking toward the future. Planning occurs BEFORE the money comes in and BEFORE it is spent. This puts the company or individual in control of the money. If you can control the money, then you can control your financial future.

Planning how to get in more income and implementing those plans is essential for everyone. Nothing stays stable for very long. It either goes up or goes down. Income is at the mercy of this natural law. An individual or company has to continue to push income up, while cost of living increases, rising prices and taxes eat away at income growth.

To be profitable and create wealth, reducing expenses so you are operating within your income is sometimes necessary. But, be careful to makes sure you don’t cut expenses in areas where it would reduce your ability to produce income. Careful spending on items that bring more money back in than was spent is the goal for responsible financial planning.

Many business owners make the mistake of cutting back on marketing and promotion when that is the only way they will get in a constant flow of new and repeat customers. Using existing cash and resources in a way that prevents waste and generates more income is vital. All of these actions require planning before doing. That is operating in the future. Thinking is definitely required.

Where did all the money go? Your accounting system tells you that.

How much money will be coming in? How can it best be used to increase the long term survival potential of a household, company and the individuals in the group? The answers to these questions require frequent, consistent, and careful financial planning and money management.

Sandra Simmons, President of Money Mangement Solutions, specializes in helping business owners and idividuals manage their money to achieve financial freedom. Claim your FREE Report 7 Fatal Money Management Mistakes (And How to Avoid Them)

© 2007 Sandra S. Simmons. All Rights Reserved.

Credit cards are an alluring trap invented by our modern financial system.

Buying something using a credit card is not bad, IF you have the income to pay the credit card balance in full when the statement arrives, plus all your other bills.

But buying with a credit card because you don’t actually have the money, is simply committing your future earnings to the credit company under the threat of a bad credit rating. That is financial slavery.

Over the past few years, financial experts have helped a lot of people to get out of the credit card trap with debt reduction programs. Helping people do this is not looked on favorably by the credit companies; they lose all that profitable interest. They take counter measures to hook more people back in by offering 0% percent interest for some period of time.

Are they really giving you 0% interest? Only if you can pay off the debt before the time frame is up. What they are counting on is you NOT having the ability to pay it off.

What happens if you can’t pay? Have you ever read the fine print on their “Terms and Conditions” agreement? Most agreements have an attractive interest rate in large print; 9.99% to 12.99% is typical. But, many rates are variable, meaning it is the “attractive” rate PLUS the “prime rate” which is what the banks are charging the credit company. This can add a whopping 6 – 9% on top of that attractive interest rate.

Read further and you’ll see the rest of the trap. If you miss a payment or are late, they have the right to increase the interest rate to well over 30%. PLUS, they get to add an additional $25 – 39 late fee. On a $1,000 balance, that is $52 - 66 in monthly interest and fees you must pay before you ever get to pay the first dollar of the price of the item you charged.

What else do the credit card companies have in their arsenal of weapons to make sure they make money from you? First is that enticing “minimum payment” they offer which is mostly interest, and keeps you paying for whatever you bought for about 20 years. Second, they are now using invitations to get cash back from retailers or earn airline miles for every dollar you spend.

Who pays for that? You do. The credit companies charge the stores for the cash they give you back, and the stores raise the price you pay. Credit card companies pay a tiny amount up front for each airline mile that they “give” you for every $1 you spend. On January 1, 2007 in an NBC TV news interview, the president of a major airline stated that it costs the airline industry $10 to fly you somewhere when you have earned 25,000 air miles to take a flight.

Who actually benefits financially if you charge up your credit cards to earn a “free” flight? It does not take a genius to see that trap dressed up to look like a big benefit to you.

Sandra Simmons, President of Money Mangement Solutions, specializes in helping business owners and idividuals manage their money to achieve financial freedom. Claim your FREE Report 7 Fatal Money Management Mistakes (And How to Avoid Them)

© 2007 Sandra S. Simmons. All Rights Reserved.