If you’re the owner of a growing business, then you’ve probably considered credit card processing solutions to manage your payments.  Before you take the plunge, consider the following tips before signing up with a credit card processing company.

Research, Research, Research!

When doing research on any credit card processing company, you’ll come across several options for you to chose from.  Don’t go with the first company that pops up on the first page of your search results.  Google them.  Bing them.  Check the BBB ratings in their state and check sites like Ripoffreport.com to check for complaints.  A good way to check for sketchy behavior is to add the term “scam” to your search term:  “Company name + scam” and this usually brings up results that tell you whether the company is involved in questionable activities.

Full Price Is For Suckers

Once you’ve created a short list after completing your research, compare the fees for each company.  This goes for anything you pay for in life.  You always want to make sure that you’re getting the best deal possible.  For this reason, you’ve got to keep in mind that everything is negotiable.

Everything Is Negotiable

Trust me, there are no fees set in stone.  Well, except the PCI and statement fees.  Still, never pay full price.  Full price is for suckers.  Talk them down on each fee listed in the contract because many business years never ask and as such they don’t receive the discounts they deserve.

Have you researched credit card companies?  What criteria did you use to select your processor?

Most people have a period of time in their lives that their credit is not perfect. Those with bad credit know that it is very difficult to live without access to credit. Fortunately, it is possible to get a loan with bad credit. Of course, interest rates are higher for those with bad credit because they pose more of a risk to the lender. The more responsibly they handle credit, though, the higher their credit scores will be. Following these tips will help someone with bad credit get a loan and begin to establish a better credit rating.

1. Consider a payday loan.
Payday loans are short-term loans that are made strictly based on your ability to repay the loan. Because credit reports are generally not checked and positive accounts are not reported to the credit bureau, applying for a payday loan does not have any affect on your credit score unless you fail to repay the loan. Payday loans are useful when quick cash is needed for unexpected situations. The requirements include a steady source of income and a checking account.

2. Work with a broker.
If you are trying to get a mortgage or home improvement loan with bad credit, a broker may be able to match you with a lender that does bad credit loans. Mortgage brokers have relationships with a variety of mortgage lenders and banks and are able to successfully help borrowers with good and bad credit scores get loans that meet their needs. Because brokers have access to the credit terms of many lenders they are able to provide guidance to borrowers who have bad credit.

3. Get a cosigner.
A cosigner is a family member, friend or other acquaintance who has good credit. The cosigner agrees to take responsibility for the loan if you do not make the payments. Because you are listed as a borrower on the loan with the cosigner, timely payments will improve your credit score. A better credit score will make it easier for you to obtain credit without a cosigner.

4. Offer collateral.
Collateral is property that you already own that is used to secure a new loan. Homes are the most common form of collateral. Consumers sometimes use their personal automobile as collateral for personal loans. New companies frequently offer equipment as collateral for business loans. Collateral gives the lender confidence that the loan will be repaid.

5. Apply for a bad credit loan.
There are lenders who only work with people with bad credit. Companies such as Badcreditloans.com match people with bad credit who need loans with lenders who are willing to ignore past credit problems. These lenders do not request credit reports but they may report positive accounts to the credit bureaus.

6. Increase your credit score.
Higher credit scores make qualifying for loans easier. Credit scores are affected by collection accounts, available credit and debt to credit ratio. If you have several bills that are overdue, paying them off will increase your available credit and increase your score. Paying all outstanding debts may increase your credit score enough for you to qualify for an unsecured loan.

What tips do you have for someone needing to rebuild their credit?  Have you overcome bad credit?  Share your strategies in the comment area!

On Monday, May 7^th, FOX Business Network’s Liz Claman will interview legendary billionaire and Berkshire Hathaway CEO Warren Buffett, Berkshire Hathaway Vice Chairman Charles Munger and Microsoft Chairman Bill Gates in an exclusive sit-down (9:30 AM/ET) following the Berkshire Hathaway shareholder meeting this weekend. Claman is no stranger to Buffett, having interviewed him countless times throughout the course of her career. Below, she shares some insight on what she’s learned from spending time with Buffett over the years.

How can women can become educated investors?

Educating women investors is really no different from educating any motivated investor. You have to read, study, and become knowledgeable.  One of the best ways to do that is to study how smart, successful investors, like Warren Buffett. Buffett thinks in terms of buying great companies that have a ‘moat’ of competitiveness around them.  Are they the best or at least top 2 in what they do? Are they run by passionate managers? These are the questions he asks.

Does Warren Buffett invest in women specifically?

Warren Buffett doesn’t care who’s running a great company. It could be a man, woman or alien from Mars but if it’s run well and he sees major opportunity for growth, he’ll buy it.   You could argue that simply by buying businesses run by women, such as Pampered Chef or Business Wire (run by Cathy Baron Tamraz), he’s encouraging many women entrepreneurs to dream.  They should study those companies, see what the CEOs did right and did well, and then copy it with their own twist and personality.  And Buffett always stresses that if you follow your passion, success will follow you.

Can you share a lesson you’ve learned from spending time with Warren Buffett?

Learn how to communicate. This helps us not only in saving, but in all aspects of our lives!  It shocks a lot of people to know that Buffett was incredibly shy and lacked all confidence even through his twenties.  He finally forced himself to take the Dale Carnegie course, “How to Win Friends and Influence People” because he realized the only way he’d be truly successful in life— even with his natural ability to allocate financial assets— was if he could communicate to potential investors.  It took him quite some time to get up the courage to finally enroll in the course but it’s the only document he has framed and up on the wall in his inner office. Not his diplomas, not any awards, just the “Warren Buffett successfully completed Dale Carnegie’s course.”  There’s something very poignant to me about that.

A summer vacation in Europe is the trip of a lifetime for many people, but one that they fear is out of reach due to the cost. Europe isn’t always the cheapest place to travel and with everyone’s budget belts being tightened summer holidays are often one of the first things to go. This doesn’t have to be the case though! If you are a savvy traveler and put some effort in you can save on everything from accommodation and food, to entrance fees and transportation costs. Use any, or all, of these money saving tips when planning your next vacation in Europe and you’re sure to have a memorable holiday at half the price!

• The first trick is to choose your dates carefully. Traveling outside of peak season will save you money on almost every aspect of your trip. Peak season in Europe is generally from May-August. As well as saving money, traveling off season also means less crowds and friendlier locals – a win all around.

• When booking your flights be flexible with dates. Flying in the middle of the week can be much cheaper than the weekend – simple supply and demand. Many flight booking websites, such as Travelocity.com have a search option that allows you to indicate that you are flexible with your dates. This allows them to display flight prices 3 days on either side of your selected dates, allowing you to see how much they fluctuate within only a few hours.

• Accommodation is likely to be the biggest expense after your flights. Week long and weekend holiday are a popular accommodation option in Europe and can be much cheaper than the traditional hotel. Visit www.sykescottages.co.uk to view a great selection of holiday cottages throughout the UK and Ireland.

• Eating out at restaurants 3 meals a day for a week or more can get expensive, tiresome, and isn’t great for the waistline. Staying in self-catering accommodation allows you to cook your own meals and pack up snacks to bring along on days out – a big money saver and a life saver if you are traveling with children.

• Watch out for unexpected extra charges! If you grab a coffee or sandwich at a street side cafe they may charge you extra to eat on the premises. Likewise, if they bring bread or bottled water to your table at a restaurant check to make sure you aren’t being charged extra for the privilege. There’s nothing worse than being charged for something you didn’t want!

• Decide where you would like to visit in advance and check their website to see if they offer an advanced ticket deal. Not only will this save you money but also often lets you skip the line-up.

• Last but not least, use what God gave you and walk, walk, walk! There is nothing cheaper than free and that’s what your legs are! If you must get further than your legs can carry you, consider using local public transportation like subways and buses. Taxis are always going to be the most expensive option and anything that is targeted towards tourists is likely to be a rip-off. Before you leave in a taxi double check about the fare so you aren’t shocked at the end.

All set?  If you fear that money will be an issue, do your research.  The money saved will go a long way in buying you a sweet souvenir!

It’s Saturday evening and I’m catching up with one of my college friends, updating each other on what’s new in our lives. Of course, the subject of pregnancy comes up and I know that since we are in our 30s with no kids, I brought it up.  Hey, it was inevitable.  She is one of my oldest and dearest friends and we think a lot alike.  Very career driven while trying to plan our lives in order to control the outcome.  We hate surprises.   Since she is starting a new job, tone of her concerns is about having a child right now.  New Job + Woman /= Good impression- for some women.

Timing

When is the right time?  After we’re established?  When we’re mid-career?  How long do we and should we take off once we have the baby?  We chatted about this and I just kept thinking that men don’t have to think about this crap!  They don’t have to think about timing when having a baby because they aren’t the default providers for childcare when a new baby enters the picture.

Career Impact

I don’t know about the rest of you, but I think about these things, A LOT.  Though, less than I used to because I’ve let go of the need to control every major life event.  If we got pregnant right now, I’d be fine with it.  I am fully licensed in my field and what you’d call mid-career management.  But I keep wondering about the on-ramp after we have kids.  Will I want to return to work?  Am I going to have trouble finding a position commensurate with my experience if I take longer than 2 months off?  I still think about these things.

Will having a baby now affect my ability to get promoted and move forward in my career?  Would my employer fire me once they find out I am expecting?  Or will I be pushed out if I start to have complications that require time off?

Fertility Concerns + Talking To Pregnant Friends

Given that we have some fertility concerns, finding health insurance or paying for it out of pocket is also an issue for me.  Either way we’ll do it but I would really rather find health insurance that will cover the treatments since complications can mean more than 1 round at $15k each.  That said, as we go through more testing (that is covered by health insurance), it’s become increasingly difficult to talk to newly pregnant friends about their impending bundle of joy.  While I am truly happy for them, seeing them move on to this new stage in life admittedly makes me sad.  Sulky tear-filled eyes after we talk – sad.  Those of you in the infertility community may understand where I am coming from with this.

This is pretty new for me and while I try not to think about it, I do realize that it is hard to engage pregnant friends.  Once they have the baby, I’m there, but while pregnant? Not so much.  Call me selfish, and I think it’s obvious why I may feel like this but it is what it is.  It’s something that I have to work on as we move towards parenthood.  Now I’m not curled up in the fetal position crying in the dark, but ya know, it’s a difficult process.

I’ve asked my readers in the past, Journey To Motherhood: How Did You Know You Were Ready To Become A Mother?  That was more-so related to knowing within yourself as a woman, that you’re ready.  I’m there now.  I am at the point where I crave wanting to be a mom.  So that’s not my issue.   But what I do want to know:  how did you know within the context of the right timing and your career?  Did you have any of the same fears or concerns?

Did you jump in and decide to worry about how you’d feel and orchestrate your return to the workplace later?  Or was it carefully planned?  Right now, I am somewhere in the middle.  Sick of planning but addicted to a planned and orchestrated outcome.  *sigh*  The older I get, the more I realize that there is never really is a “right time”.

Block access
Mice and rats can fit through surprisingly small gaps, so make sure you don’t leave them any entry
points. Check around gas, electricity and water pipes and make sure all doors and windows fit securely.

Fill holes
If you do find any odd holes that could provide a way in for vermin, fill them with wire wool and
expanding foam, which you’ll find at a DIY shop. Also ask about guards for your drainpipes to stop rats
climbing up.

Don’t feed rodents
Store food in airtight containers and never leave crumbs or scraps out as they make tempting bait.
Surprisingly, chocolate is popular with mice, so don’t leave anything sweet out.

Watch your hygiene
Remove rubbish at the end of each day, and take it out to a bin well away from the house. Don’t leave
food debris around the garden, and avoid composting fish, meat or bread as they attract vermin. Wipe
up any spills, clean under your worktops and don’t leave crumbs on the floor.

Keep an eye out for signs that rodents are present
No-one wants to think about rats and mice wandering around your house, but it’s important that you
watch out for signs that they’ve visited. Any new holes should be investigated, along with damage
to skirting boards and carpets that may be caused by gnawing. You might also hear footprints, find
droppings or even see the vermin themselves, particularly late at night.

DIY treatments
If you suspect you have vermin, block nearby holes with newspaper and then check 24 hours later to
see if it’s been disturbed. Use traps or poison – which should be kept out of the reach of children or
family pets – to control the problem.

Call in the professionals
Contact your local council’s environmental health department, or call out an exterminator who can
assess the problem and then lay traps. If left untreated, rats and mice can spread disease and cause
damage to your property, so it’s important that you act quickly.

This article was provided by John Lewis Insurance which offers a range of insurance services selected by the John Lewis Partnership. These include car, life, travel, wedding, event, pet, building and contents insurance products.

Many of you have several last minute questions with the looming tax deadline on April 17th.  Sandra Smith from Fox Business was gracious enough to tackle them for us while giving us a few things to think about!  If you have more questions, feel free to drop me a line in the comments or on Twitter!

The tax code is constantly changing. The biggest change to be aware of this year is that the deadline is April 17. Better get to work quickly! A couple of things worth noting for this year- Federal income-tax bracket limits are higher. For a married couple filing jointly, the 25% bracket will start at $70,700, up from $69,000 and for people filing as single filers, the 25% bracket will start at $35,350, up from $34,500. 

Beyond IRAs, claim all eligible deductions from last year. Don’t forget about charitable contributions; go through your checking account and credit card accounts to check for anything you gave to church or for other donations. Heavy medical expenses are an overlooked deduction- if your health expenditures went up last year, you can deduct the amount by which your total medical care expenses for the year exceeded 7.5 percent of your adjusted gross income.

And, believe it or not, you can take deductions for eligible gambling losses. Losses from horse races, casinos and other legal wagers can be deducted just as gambling winnings are fully taxable and must be reported.

First, promise yourself that you will be more organized next year. Second, you are doing yourself a disservice if you can’t produce the receipts since most taxpayers tend to understate their deductions when they guess. Also remember that the rules require that you be able to produce your receipts if the IRS asks. If you can’t find them by tax day, you likely won’t be able to fund them for the IRS. So consider taking the standard deduction this year.

You have options. You can request to pay in installments by filling out form 9465, Installment Agreement Request. It will cost you a fee ranging from $43 to $105 plus interest, but the payment won’t be delinquent.

You can ask the IRS for more time by submitting form 4868. Six-month extensions are granted automatically. Filing an extension will allow you to avoid penalties.

If you owe taxes, you still have to pay by April 17. Filing an extension is just to get your filing in. If you have had a life change such as having a baby or starting a new job, that might be reason to see a professional tax preparer. And, keep in mind, H&R Block and TurboTax offer free advice to customers online or over the phone.

I’m sure many of you are thinking crap, crap crap!  Or if you’ve been uber organized then you’re feeling a sigh of relief!  Whatever it is, I hope this was helpful!  We’ll be continuing this question and answer series with Fox Business so if you have questions, let me know in the comments or on Twitter.

Have you evaluated your financial situation lately? If you have money in investment and  saving accounts, it might be time to get out the calculator to see where you stand financially. If you do not know where you are, you can’t possibly know where you’re going.

Procrastination always leads to financial trouble later in life.  Addressing your financial issues now can make the difference in how you live in the future. There is more to a money health check than knowing how much you have in your accounts. You also need to know where your money goes and how you might be wasting it on things that don’t help you reach your intended financial goals.

Where do you start?  Track expenses.

This not only involves major expenses but minor expenses as well. Major expenses are easy to track. You can easily track your mortgage, utilities, car payments, insurance, credit card and loan payments through monthly bills and receipts.

If after tracking your expenses, you find that you’re living close to the edge, then performing your own internal financial audit is in order.  Things change and you may need to adjust the amounts.  For example, if your car payment is too high, you may need to purchase a cheaper one or refinance the loan.  The same goes for car insurance or homeowners insurance, cable and phone bills.

Of course, the first thing you should consider is your credit card debt. If you are accruing more debt each month rather than paying it off, you will regret it later. In short, stop it.  Don’t use credit unless you are in an absolute emergency.

For most people, tracking daily expenses is harder than regularly monitoring monthly bills. Many things eat into your cash flow, including ATM fees, daily sodas and coffee outside of the home and the cost of dining out. A $2 coffee three times a day adds up to almost $200 a month. That money could go into one of your saving accounts.

That Nasty Word – Budget

No one likes to live on a budget, but for most people it is the wisest thing to do. If you do have to purchase items while you are away from home, budget for them. For example, you may have to take coffee and lunch with you when you leave the house.

If you spend money on in-home entertainment and full-package cell phone services, you may be able to trim some of that back to set aside more money.

The Main Purpose of the Financial Evaluation

This financial checkup, should be done annually and allows you to put more money in your pocket now while making sure the money you do save is going into the right places. During this evaluation, you should also be looking at your investments. You may need to adjust these every year so you have the allocations of money in the right places.

You may also discover that the amount you are investing will not get you to your goals as you had hoped and that you need to start investing even more.

Don’t make the assumption that this assessment of your finances is unimportant if you don’t have a high income. It is important. In fact, it is even more important because every dollar is crucial to your financial well-being.

It determines how much you can put into your saving accounts. If you make enough money so that you don’t have to budget your spending, it’s still important to redistribute your investments.

This was a guest post.

Chances are, if you’re reading this blog, you know about emergency funds and savings accounts. But do you know the differences between the two and when to use them?  Life’s curve balls don’t always come wrapped in neatly identifiable boxes.  So there are times when expenses arise which force us to dip into the piggy bank.  But do we dip into the savings or the emergency fund?  Both?  What’s the difference?

Let’s start out by defining specific uses:

Emergency Fund: Usually consists of unplanned expenses, the ones that pop up with no warning such as unexpected bills, deaths, job loss, illness, unexpected life circumstances and appliance repairs/replacements. I hate to mention it again but since the recession is upon us it is imperative that you have at least 3-6 months saved as any combination of the above is likely to create the perfect storm in your financial life. You’ll be able to sleep easier at night knowing that should any or a combination of the above happen, you’ll be covered in the majority of cases.

Savings Account: This is typically where you save for a specific goal such as down payment on a car or home, childcare expenses, appliances, furniture, educational expenses, investments and hobbies. Obviously, these are planned expenses and not haphazard emergencies. We typically save to meet a certain goal that has been planned for some time. This prevents us from spending money we don’t have through the use of credit cards and increases discipline once the stated goal has been achieved.

The Grey Area This is an area I found myself going back and forth on with my husband because many of these are debatable. We listed the following as being in the grey area: traffic tickets, car getting towed, unexpected tax bill, prolonged medical expenses, legal fees and debt reduction. I’m sure there are more so feel free to list yours in the comments. All of these are debatable which is why they are in the grey area. Still, it makes sense to address these issues before they happen and decide which account should be used to cover these expenses. None of these are planned, but they aren’t dire emergencies either.

Questions to ask your self:

• Which account would you use to pay the junk yard to get your car back?
• What about that unexpected tax bill with April 15th around the corner?
• Legal fees to defend that reckless driving charge?

What about debt reduction? Some believe you should use savings to knock down debt, others believe you can use your emergency fund while some believe in working to pay down debt. I struggle with using my emergency fund to pay down debt because when you know what hits the fan, my bills need to be paid and I would rather pay the minimum in a pinch than give up security. That said I think it wise to create a “when sh*t hits the fan fund” so you’ll be covered and not have to dip into your savings or emergency fund.

What are your grey areas?

This article was originally published on Apr 10, 2008  and updated on March 28, 2012.