Unfortunately, saving money just sounds hard to do, and it sounds like punishment rather than reward. The key however, in turning that perception around is to be able to visualize the rewards gained by saving. Sure, we all know that if we pay more than the minimum payment on a credit card bill, for example, then we’ll pay off the balance sooner … blah, blah, blah. Sometimes, however, “knowing that”, and visualizing the end results are the difference between “knowing it” and “GETTING IT!”.

Let’s take a clear example. Let’s say you only have one credit card. The balance on it is $3900 with a high annual rate of 23.24% and a current monthly minimum payment amount of $115.

If you pay the minimum each month, you’ll have this balance paid off by April, 2014 – 4 1/2 years from now.

If you pay $320/month instead of $115/month, you’ll have this balance paid off by November, 2010 – a little more than a year from now.

That’s a significant difference. Sure, it may be tough to squeeze the extra $205/month into an already tight, tight budget, but if you can manage it, it will be well worth it.

If you have multiple credit cards, it can be difficult to know which ones you should pay off first – and how much extra to apply to each. I recommend using a spreadsheet calculator that handles all the math for you. I use Vertex’s free debt reduction spreadsheet. It comes with versions for both Excel and OpenOffice in the same download. (Also worth noting, the spreadsheet has no macros and no installation involved. Just straightforward math calculations).

This calculator lets you try out different debt reduction strategies, including the debt snowball effect (paying the lowest balance first) and the debt avalanche effect (highest interest first). All you do is enter the debt info (balance, rate, minimum payment) for each creditor, decide how much extra you can squeeze out of your budget each month, and then choose one of the reduction strategies to see which is best for you. If you use this calculator, make sure you enter the current date into the Balance Date cell at the top of the worksheet, or the dates will be skewed.

Here’s a screenshot as an example.

Now it’s time to extend the “vision”. Go download another of Vertex’s spreadsheet calculators – this time, the Simple Savings Interest Calculator. Let’s say you’ve finished paying off your debts, and now you have that extra $200/month with no bills to apply it to. What would happen if you were to put that $200/month into a savings plan? Here’s a sample output using the calculator of what would happen after 10 years using one example scenario.

$29 THOUSAND DOLLARS! Wow. Kinda leaves me speechless.

Ok, I’m not speechless for long. You see, it’s not that we don’t KNOW these things. It’s just that until we really SEE IT in black and white, right there in front of us, can we really GET IT.

I encourage you to download some of Vertex’s calculators and play around with different scenarios. They have tons of spreadsheets to choose from, so there should be some there for everyone’s personal situation. They are free, easy, work well, and can be real eye-openers.

So before you read another article or blog post on how to make more money online, I recommend you find ways to save money first. It may seem like punishment at first, but if you really SEE IT laid out in front of you, you can see the rewards as well.

© Donna for DazzlinDonna, 2009. | Permalink | No comment | Add to del.icio.us
Post tags: bank account, Online Post You want
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There are probably just as many opinions about what constitutes good website design as there are people on the internet. There are, however, a number of factors that have been proven to make or break a website. If your website is guilty of just a few, it can have a dramatic impact on your business. Fortunately, most of them are relatively easy to correct, but in many cases, the right choice is often contrary to popular opinion because of peoples’ misunderstanding of the internet.

Spend some time studying these six common website design mistakes and see how many you’re guilty of. Then, invest the time to correct them and you’ll find that your website begins to perform better almost immediately.

Not testing on multiple browsers

You probably use Internet Explorer, like most people do, but a significant portion of your website visitors may be using another browser, such as Firefox, Safari, Chrome or Opera. Also, your visitors may have a variety different screen resolution and graphics capabilities. This means a website that displays perfectly on your computer may not on another computer, which is why it’s so important that you test your website to ensure that it displays and functions properly in most major browsers.

Using splash pages or flash intros

When a visitor arrives, they shouldn’t have to click anything to enter your website. Splash pages can turn an otherwise amazing website into a poor website faster than you can click the back button, and flash intros are even worse. Both of these things came about from arrogant designers who decided that showcasing their ability to use a particular piece of software was more important than providing what their visitors were looking for, and unfortunately the phenomenon became fairly common.

The argument in their favor is often something along the lines of ‘Our flash intro gives us a chance to present a mini commercial to each and every website visitor.’ This argument is flawed though, because by the time that they have arrived on your website, they are looking for specific information – not your commercial. Forcing it on them will only encourage them to leave, usually moving on to your next competitor.

Not breaking text into manageable chunks

It’s said that the best way to eat an elephant is one bite at a time. The same logic applies for presenting website copy. Staring at a computer monitor is difficult work for the human eye, and digesting large portions of text can be tough for even the most focused visitor. You can overcome these challenges by breaking your text into smaller, manageable chunks, utilizing headings, subheadings, lists and images. You should also keep the width of your text within a reasonable limit. The longer it is, the more difficult it will be for your visitors to read.

Omitting contact information

A surprising number of companies fail to provide any way to contact them on their website other than through a contact form. This falls into the same category as those annoying automated phone menus. Sure, you’ll save some time and money since you won’t have to talk to all those bothersome people who want to talk to you, but you’re forgetting something important. Those ‘bothersome’ people are actually potential clients who want to buy what you’re selling!

You may filter out some riff raff when you don’t provide your contact information, but you’ll also turn away a lot of potential business. People want that warm, fuzzy feeling that comes from knowing that they’re dealing with a real-life company rather than some fictional Nigerian prince who is willing to transfer his fortune to their bank account. They are looking for a stable company that they can trust and if they know that they can pick up the phone and reach someone, or even stop by your office if they are nearby, you will have a rock-solid foundation.

Putting branding before the user

There is no question that branding is an important, if not critical aspect of marketing, but some companies take it too far, causing a negative impact. I would generally agree that the title tag on your home page should contain your company name, but that shouldn’t continue throughout your entire website. Aside from diluting your search engine optimization campaign, having your company name in the title tag of your internal pages will make them less attractive to potential visitors when presented with a list of search results. Think about it like this; if someone searches for ‘blue plutonium widgets,’ do you think they will be more likely to click on a listing in the search results with the title ‘Blue Plutonium Widgets – $9.99′ or one with the title ‘Acme Widget Company?’

Omitting pricing information

The outdated mentality of only revealing pricing information to prospects on the phone or face to face seems to have made its way onto the Internet. While there are valid reasons to justify the practice, it is counterproductive to your business. When people use the Internet to find information, they expect to find that information without having to call someone. Does this mean that some of your competitors may learn what your prices are? Certainly, but they can get that information even if you don’t make it available online by posing as a potential client. Not all companies can list their prices; for example, while we have a number of standardized prices available, a lot of the marketing work that we do is developed on a case by case basis. Most companies, however, can.

© Donna for DazzlinDonna, 2008. | Permalink | 2 comments | Add to del.icio.us
Post tags: Acme Widget Company, bank account, Internet Explorer, Jeremy Knauff, prince, search engine, search engine optimization campaign, search results, WildFire Marketing Group
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A new payment network, called Revolution Money, is poised to take PayPal’s place. I personally have never had a problem with PayPal but because they are not a bank, and can’t be regulated like one, the possibility of them freezing your account is very real, and has caused many people to get very upset over the years. They can put a hold on your money for up to 6 months while they investigate what they think might be fraudulent activity.

Some very important people got together to try to give us all a better option, and they just might be able to pull it off. The people behind Revolution Money are Ted Leonsis (Vice-chairman of AOL and owner of Washington Capitals), Steve Case (co-founder of AOL), David Goldman (former vice-chairman of J.P. Morgan), Russell E. Hogg (former President and CEO of Mastercard), David Pottruck (Chairman, Eos Airlines and Former CEO of Charles Schwab), Frank Raines (Former Chairman & CEO of Fannie Mae), Larry Summers (Former Secretary of Treasury and Former President of Harvard University), Jason Hogg (Founder, President and CEO of Revolution Money) and Patrick Graf (Co-Founder and CTO of Revolution Money). That’s an impressive array of people.

The good thing is that Revolution Money is administered by an actual bank (First Bank & Trust in Brookings, South Dakota), and is FDIC-insured, along with your Revolution Money Exchange Account. In addition, unlike PayPal, you can send and receive money to and from other Revolution Money Exchange members with no service charges at all.

The only way that Revolution Money can replace PayPal, however, is for it to get lots of people to sign up. So, to help achieve that, from now until April 15th, everyone who signs up (for free) will automatically get $25 placed into their account. It’s true and it’s real. I tried it. I signed up, and within minutes, $25 was ready and waiting for me.

If you want to be able to use a more secure payment system than PayPal, and you want no charges for doing so, AND YOU WANT $25, all you have to do is click on the button below and go sign up. You will have to give them both your social security number and your bank’s routing and account number, so that your Revolution Money account can be attached to your bank account (just like PayPal does). But don’t worry, it isn’t a scam, and it is safe.

I have a feeling this is going to revolutionize the online payment model.

© Donna for DazzlinDonna, 2008. | Permalink | 7 comments | Add to del.icio.us
Post tags: actual bank, AOL, bank, bank account, Brookings, CEO, Chairman, Chairman & CEO, Charles Schwab, Co-Founder, Co-Founder and CTO, David Goldman, David Pottruck, Eos Airlines, Fannie Mae, FDIC, First Bank & Trust, Founder, Frank Raines, Harvard University, J.P. Morgan, Jason Hogg, Larry Summers, Mastercard, online payment model, owner, Patrick Graf, payment network, payment system, PayPal, President, President and CEO, revolution money, Revolution Money Exchange, Russell E. Hogg, Secretary of Treasury, Secretary of Treasury and Former President, South Dakota, Steve Case, Ted Leonsis, Vice-chairman, Washington Capitals
This feed is for personal non-commercial use only. If you are not reading this in your news aggregator/reader or on DazzlinDonna, then the site you are looking at is probably infringing upon my copyright.

1. Use Free or Open Source Software as often as possible. I’m moving more and more towards eliminating any software that I have to pay for, and the open source movement is making that easier to do now.
2. Freecycle. Freecycling is a grass-roots movement of people giving (and getting) stuff for free in their local communities. This is a great way to get used office equipment, desks, and many other home-office related items without having to pay for them. (It’s also a great way to get rid of things you don’t need anymore, but that’s not really related to this post).
3. Barter / Exchange Services within your community (either online or offline). I know many people that I can call upon to help with various tasks in exchange for my services. Even though my time can be scarce, I’d much rather find some time to help someone if it means I don’t have to pay for something I need. Sure, time is money, but it doesn’t deplete my bank account.
4. Garage sales, Goodwill stores and flea markets carry a lot of junk, but the occasional gem can be found there as well. Things like file cabinets can be picked up for next to nothing, and are completely serviceable.

These are just a few ways that you can help your home based business succeed, not by working harder, or bringing in more income, but by spending less.

© Donna for DazzlinDonna, 2007. | Permalink | One comment | Add to del.icio.us
Post tags: bank account, cut costs, free software, freecycling, home office, office equipment, open source software
This feed is for personal non-commercial use only. If you are not reading this in your news aggregator/reader or on DazzlinDonna, then the site you are looking at is probably infringing upon my copyright.