Financial and Tax Wisdoms

We live in times when everyone is under cash flow pressure. Banks try to help people who are struggling to make their payments through debt counseling and debt consolidation. They look at all your debt and make suggestions around consolidating it all into one facility. The purpose of this is to improve your cash flow, with a consolidated payment coming from your account monthly.

This is achieved by two things, a better rate and a longer term to pay.

 However, the individual could find it difficult to evaluate the bank’s suggestion against all the factors that impact on a person’s debt. Business Optimizer’s debt consolidation tool allows business owners to play around with all the variables.

Each loan has its own term, installment and interest rate. By combining all the business owner’s credit facilities, it provides a consolidated rate of the average interest rate being paid.

Business owners can use this tool to negotiate debt consolidation with the bank and negotiate an interest rate below their current average.

It is important to negotiate flexibility into your consolidated debt. When your financial position improves, you can start paying of extra. The tool will also show you the advantages of doing this. Banks make their money by making the term as long as possible and keeping the rate as high as possible.

Debt consolidation is not only for those who are in trouble. Business owners can also use it to get a better rate on properties or assets that are being paid off.

Debt in its own is not a bad thing; it depends on how you use it. Your debt must work for you; you must not work for your debt!

Business Optimizer will make all their software tools available to all Inspiringwomen newsletter subscribers at no cost for a limited period of 30 days. This enables them to sample the software and complete the risk analysis tool. Go to www.businessoptimizer.co.za