When you are in the game of finance, you need to focus on every bit of energy you are expending. Maximizing the use of your time will directly impact your earning potential. When you aren’t respecting your time, you are lowering your earning potential. As the old saying goes, “Time is money.”

Find ways to make your life more efficient and you will find yourself increasing your earning potential tremendously. Work commute got you losing 30 minutes every day? Start listening to audio tapes or making conference calls on your way to work. The time you spend listening to audio tapes will pay off in increased knowledge that you can apply at the work place. If you decide to make conference calls for work, you can get some of the early morning networking out of the way so that you can get to work tackling the day’s projects all the sooner. At the least, use that time to stay in touch with your loved ones so that you can focus once you arrive at work.

When you are at home, you need to run your house more efficiently, too. Instead of spending valuable time every day driving to a grocery store, have your food delivered to your home. By spending a few minutes, you can set up a recurring order through Peapod. If a recurring order doesn’t sit well with you because you like diversity (it is the spice of life), one-time orders are just as easy to submit. With a fast ordering system, you will be saving hours every week. Rather than walking around in circles in a grocery store, relax in the comfort of your own home or place your orders while on the subway home from work.

Efficiency is incredibly important if you are to be successful in the world of finance. You need to find ways to streamline every system you can, and then you will find success pouring in.

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A high yield bond, also known as a junk bond, is one that has an inferior credit rating when compared to corporate, treasury, or municipal bonds. The greater amount of risk associated with these bonds, however, conversely result in a higher yield than most traditional bonds. The two leading rating agencies S&P and Moody’s rate these bonds lower than BBB and Baa respectively.

There are, however, several advantages to investing in high yield bonds. There are also techniques you can use to lower the risk attached with these bonds. Forming high yield mutual funds will reduce the loss that you will incur in the event that a company defaults. Some of the benefits of these junk bonds are:

Increase Your Income

The yield of junk bonds can actually far surpass those of the traditional government or corporate bonds or even certificates of deposit. There are two main reasons for this. The first is that the high yield bonds are generally considered ‘risky’. This unfortunate risk assessment means that companies with low credit ratings need another hook. This arrives in the form of higher interest rates on the money invested. Thus, in the event that the company does well, you will receive much more money than you invested. The second explanation is that these bonds have very little correlation to the traditional investment market. This way you can still make a profit even if the stock market’s performance declines.

Capital Growth

The advantage with investing in companies with poor credit ratings is that these ratings are not fixed. The improvement of the market, industry, or corporation that you have financed with, can usually affect the credit rating of the company. This means that the credit rating can go up. This would automatically result in the rise in the price of your high yield bond. This is known as capital appreciation. You can observe growth in your capital due to a number of reasons including improved reports, mergers, acquisitions, or other economy-related events.

Insurance

Junk bonds may not be the safest asset to invest in. There are, however, still some ways that companies attempt to take the sting out of any defaults. For instance, it is a much better option to own bonds in a company than to be a shareholder in the same corporation. In the event a corporation is forced to liquidate, bondholders have a better claim to the capital structure of a company than stockholders. This means that they are more likely to receive payment. The discrepancy between the initial investment and the final payment is known as the ‘recovery rate’. The assets of a deteriorating company will be first divided among the bondholders before the shareholders. Even investors who hold bonds with a very low rating are more likely to be reimbursed than the average stockholder.

High yield bonds may be a more volatile investment than more traditional investments, but their considerable income yield may be well worth the risk. Furthermore, there are many ways that you can negate these risks with high interest rates and mutual funds. This ensures that your venture is a little more reliable.

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Although it isn’t due to be introduced until 2016, the flat rate state pension is a major shake up of the retirement benefits system and will have an impact on anyone retiring after that time. It’s therefore important to understand what it means and to carry out a pension review accordingly.

If you’ll be retiring before April 2016 then the changes won’t affect you and you’ll be paid a state pension under the current system. Currently this is £107.45 a week for the basic pension or £142.70 if you get the additional pension based on National Insurance contributions or you get pension credit.

Retirement After April 2016

If you reach state pension age after April 2016 then you’ll receive the flat rate pension rather than the existing one. This involves some major changes as follows:

1. You’ll need to have made National Insurance contributions for at least ten years to qualify for a pension (currently it’s only one year) and this will only get you £41 a week.

2. To get the full state pension you’ll need to make 35 years’ worth of NI contributions (currently you only need 30 years).

3. With 35 years’ NI contributions you’ll receive £144 a week at today’s values. Since state pensions are adjusted for inflation this is likely to be more when the policy comes into effect. The new pension will be adjusted in line with the CPI index or 2.5% each year, whichever is higher.

4. The second state pension, pension credit and other top-up schemes will cease. However, if you’ve already built up an entitlement to a higher pension through second pension or SERPS contributions before 2016 this will be protected but you won’t be able to add to it.

5. You’ll be able to take time out to raise a family and still build up state pension qualifying years, which isn’t currently the case.

6. Eligibility for a pension will be on an individual basis, so married couples will each get their own pension rather than the married couple’s rate that’s paid at present. The other side of this is that a widow without enough qualifying years for a full pension will no longer get a portion of her husband’s pension after he dies.

7. If you’re still in a final salary pension scheme with an employer you’ll end up paying more in NI contributions as the contracting out option will no longer be available.

8. The state pension age will be reviewed every five years starting in 2016. It’s currently planned to increase it to 66 in 2020 and 67 in 2028.

Additional Pensions

Because the changes mean the end of the second state pension if you need to increase your income in retirement you’ll need to look at other means. These changes overlap with the government’s plan to have all employees enrolled in a workplace pension scheme which will give them an additional means of saving for retirement.

Low earners and the self-employed, who may in the past have found it hard to build up enough contributions for a full state pension, will benefit most from these changes.

If you’re on a higher income want to save more for your pension then you’ll need to look at other alternatives outside of National insurance such as starting a private pension plan or a SIPP. If you’re in a pension scheme with an employer you could also look at making additional voluntary contributions (AVCs) to boost the value of your pension pot.

Kay Brown is a writer who has a keen interest in personal finance. With the imminent changes to pensions, she suggests conducting a pension review so that you know the impact that the flat rate pension will have on your retirement.

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1. Your Success Is Determined By Your Effort

The sales industry is heavily based on rewarding the salesperson’s effort with success. A salesperson that does not put in a hundred percent of their effort will sometimes make nothing at all if they are on a commission basis. On the other hand, sales staff that put in all of their time and effort can often make far beyond what their peers are making. Sales positions are not traditional positions even when they are salaried because bonuses and promotions are all merit-based. In many industries a person can become successful simply by showing up and doing their job adequately. Sales is not one of these industries.

2. Relationships Are Everything

In sales positions a good sales team member will need to have a good relationship with their boss, co-workers and clients. While this is true in most positions it is more vital in a sales position because everyone is working together as a team. Those who cannot have good relationships with their clients will not be able to sell as much but they also can’t neglect their relationship with their co-workers. Co-workers can make or break a salesperson’s career by sharing leads and generally making their life easier. Because of the high churn of the sales industry it’s also not uncommon to suddenly find a co-worker becoming a boss and this is where previous relationships will often pay off.

3. It’s Demanding

A sales job is usually not an ordinary 40 hour a week position. Most sales jobs require that the sales person work far beyond a regular work day and many skilled sales professionals will be doing their work and their research out of hours and often at home. Because sales positions are so high pressure and because a sales professional makes as much money as they work for it can be necessary for a sales professional to put in an extensive effort to become successful.

4. Determination Is Required

Sales positions offer a lot of room to grow but only for those who are determined and willing to be constantly pushing to move upwards. Sales is extremely competitive and that means that sales people need to be constantly improving their sales techniques and their numbers. Those who allow themselves to slip may find themselves losing a lot of traction in their professional life.

5. Confidence and Leadership Is Key

Sales is all about people skills and those who do not have the confidence to lead will not find themselves going very far. There are many seminars and programs available to help those who need to develop their personal and professional skills and many sales people will find these opportunities very rewarding. While client sales may be based on confidence, leadership is required to grow and advance in a sales career. A successful sales professional needs to be able to inspire those who work under them to be the best salespeople that they can be.

To check out some options, Randstad offer sales jobs for many companies that cover all interests.

Nicole is a recruitment agent and has been for the past 5 years. She aims to help her clients find jobs and guide them in the right direction. She started writing blogs to share her knowledge to others who are looking for general help and ideas to get them started on their career.

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Falling into debt is a stressful situation for anyone. Due to unforeseen circumstances it can sometimes be an inevitable consequence that we have to come up with an effective debt management plan to combat these perilous financial pitfalls before the situation worsens.

Seeking Help

While we can do our share to cut down on our expenditure, it is not always enough and you should not be afraid to seek outside help should the strain of debt become too much. Seeking expert financial advice from professionals can help to alleviate the strain in ways you had not previously considered.

Planning the Future

Preparing a debt management plan is an essential step on the path to financial recovery and can demonstrate a significant willingness to address your finances for the better, which can go a long way when dealing with your creditors. The peace of mind which comes with the knowledge that you on the way to financial recovery is priceless and can heavily relieve the stress that goes with the heavy burden of repayment obligations.

Every Debt is Different

Each person’s financial situation requires its own personal plan, there is no use seeking generic advice when it may not suit your individual needs. Working with a professional to devise a debt management plan will take into consideration all of your needs and nuances in a way which was previously inaccessible. Putting this plan into action is your responsibility however and can take significant work and effort to ensure that payments are being met. Debt is a serious, crippling threat to anyone’s lifestyle, and one which must be cut out and eliminated as quickly and efficiently as possible. Unfortunately, a debt management plan may mean an increase in your repayment periods, but it is a necessary action when making repayments manageable. There is no point having a shorter repayment period if you are unable to meet these deadlines, which could lead to serious complications down the line.

My Name is – and I have a Problem

Admitting that you might need professional advice to solve your monetary woes is an important first step, with many people choosing to be stubborn to their own detriment. Formulating an effective debt management plan may not have been something you had previously considered, but it is highly unlikely you wanted to be in such a perilous financial situation in the first place.

A non-lending solution from a professional debt management advice agency can be the turning point on your road to getting bank statements back into the black and out of the grisly red. Taking the solo route of attempting to circumvent the road to recovery without professional help can be extremely risky and ultimately damaging to your credit rating.

As the debt management agency will contact your creditors, it can take a major load off your back, as their negotiations will be conducted on your behalf. Of course, the decision is ultimately yours and all avenues should be explored to find the best way for you to resolve your monetary issues – there is no need to feel pressured into agreeing a deal you are not comfortable with. Comfort with a debt management plan is paramount to its success, so be sure to find an agency and a plan that is perfect for you. It is your money and ultimately, your future livelihood you are trusting them with, so be sure to consider all options before committing to anything.

Get them Working for You

Debt can be devastating, so correctly managing your repayments is extremely vital. Having a debt management agency on your side can be advantageous when dealing with creditors, with many choosing a debt management plan in order to receive the additional support and security a specialised debt management company can offer.

Getting your life back on track without the daily worry (and hassle) which debt brings about is an obvious plus point, the sooner your finances are under manageable control the sooner the anxiety will pass. Nobody wants to be in debt, but with the correct management, it is possible to make the transition into a positive bank balance a smooth and painless one. Signing up for the correct debt management plan for your circumstances is but the first foray into a debt-free lifestyle, but once you are out of it, you will never want to look back.

Clint Hazard is a writer whom believes strongly in planning when it comes to your finances. Before committing to a debt management plan, remember to consider all possible options and whether the deal is right for you.

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