Finance Book

Life is tough. It’s not tough for some of us; it’s tough for all of us. So, for those of you who spend a lot time boo-hooing about your financial status, you no longer have a reason. Join the crowd of well-wishers, and do something about your situation.

There are those of you who are low income and have a difficult time buying food and getting to work with our over-priced gas. There are folks who call themselves middle income, but are actually poor, because their income is clouded with heavy debt; yes I said they are poor, because they disguise credit for money, and live way above their means. Then there are the high-income individuals; some are fake, some are real, and some are struggling just to keep their head above water with debt. The fake ones partake in all sorts of unsavory activities to appear middle or upper middle class, the real ones work hard, make good money, pay their bills, save for a rainy day, and invest for retirement. Those struggling to keep their head above water are similar to the so-called middle income who are deep in debt, the upper income fakes are much deeper in depth, and in a matter of time, all their finances will sink with them.

There are many reasons why some of us are financially poor; some of us live deep in debt, and some just waste a lot of money, but are not deep in debt. The real middle income and upper middle income people with low debt do well understanding how to budget money and stay out of debt. Some of us have terrible challenges such as; jobs going to China and the prison system (yes, companies are moving into the prisons for .25 cents an hour labor), loosing homes to the mortgage crises, and loosing jobs to collapsed mortgage companies. I really don’t need to talk
about the gas crises, but I will say it continues to get worse. The price of gas has crept up faster than any time in our recorded history, and the trend doesn’t seem to be reversing soon.

None of us deserves the current state of finances our government and corporate policies has place upon us. How do we find answers to our toughest financial problems to circumvent the current state of U.S. financial affairs?

The answer is simple; it is in the financial advice of many of the webs personal finance sites.

By: Lois Center-Shabazz

There are many stories of identity theft coming in the media. Most of these stories are focused on individuals whose identities are stolen. However, no one seems to be interested in understanding the impact of identity theft on small businesses.

Surveys have shown that one in sixteen businesses is attacked by identity thieves.

Most of the small business owners are interested in developing their business and making profit. In the process, they tend to neglect the security aspect. This is more likely in case of newly started businesses. Many established businesses also do not have a plan to react to such theft.

It is important to understand how identity thieves can harm the security of your business.

1. The thieves can get access to your company’s checking accounts as well as business credit cards and take away the money.

2. Some smart thieves can open a new checking account and obtain credit in the name of your business. This credit can be a big risk to your business.

3. The employee information or client information of your business is also at risk. Theft of such information may lead to serious consequences. Such information may be sold to other thieves, and it will increase the risk tremendously. If the identity details and other personal information of the customers are stolen, customers may sue the business for damages.

4. There may be some other risks to your business. Someone may change the name of your business or address of your business to capture important incoming letters. It may result in large unauthorized purchases, difficulties in credit ratings and damage business credibility in gentle. If it is your personal business, your entire financial life is in danger.

5. There is a new law introduced recently – Fair and Accurate Credit Transactions Act (FACTA) which deals with the security of identities of customers and employees of all businesses. If any business is negligent about securing this information, it can be liable and can be prosecuted for heavy penalties.

Identity theft is no more a civil matter. Businesses can be prosecuted for criminal charges if they are negligent in securing the information of their clients or employees.

By: Chintamani Abhyankar