Changes to a widely used credit score may make it more likely for consumers struggling with low scores to obtain loans. Fair Isaac Corporation's newest FICO® credit scoring model will change certain aspects of how it computes the information on an individual's credit report. The changes come in the wake of discussions with lenders and regulators [...]
Do you picture yourself owning a new home, starting a business, or retiring comfortably? These are a few of the financial goals that may be important to you, and each comes with a price tag attached. That's where financial planning comes in. Financial planning is a process that can help you reach your goals by evaluating [...]
Even before your children can count, they already know something about money: it's what you have to give the ice cream man to get a cone, or put in the slot to ride the rocket ship at the grocery store. So, as soon as your children begin to handle money, start teaching them how to handle [...]
What is maximizing business cash flow? In the beginning stages of a business, cash is often the most important factor for ensuring success. It is vital, therefore, for businesses to predict and control cash properly. Most businesses begin to manage cash by constructing cash flow statements and other forecasting tools. Cash flow is a measurement of [...]
Excerpt from the May 2008 Mackey Advisors Newsletter Take care of your business and your business will take care of you. Obvious? Of course. Sounds like common sense. But this simple concept is not always easy to practice and here’s why: Putting the business first often means putting you, the business owner, last. I was advising [...]
Just like your vehicle your finances need continual maintenance. Wouldn't it be wonderful if there was a simple checklist out there to help keep you on track with your financial maintenance? Well, now there is!! Below is a simple and easy to use "My Money Checklist" with Daily, Weekly, Monthly, Quarterly, Annual, Two & Five Year [...]
Reliable financial statements are a CEO’s friend because they give you critical data on how the business is doing. Whether you use QuickBooks or other accounting software, the way your accounts are set up and the way you record transactions can have an impact on your ability to manage your business. Here are some tips for [...]
For the 2011 tax year there are two notable changes of interest to the small business owner. They are the Endow Kentucky Tax Credit[i] and the Kentucky Small Business Investment Credit. [ii] The Endow Credit is aimed to encourage donations to community endowment funds in the bluegrass state. An individual or business may take a 20% [...]
Springtime is as good of a time to clean up your finances, as well as your home and yard. One piece that often gets overlooked even after extensive financial and investment planning, is your credit report and score. These are important pieces of your financial picture that can benefit from occasional monitoring. You are entitled to [...]