Finance Tips

There are plenty of different car checkup options that are a necessary part of auto care. Everyone needs to make sure that they get an oil change during the steps recommended by the car company. Everyone needs to make sure that they consider an engine overhaul during their engine tune-up. These various tests and tune-ups help to make sure that suspension systems are fine and that fuel systems and charging systems are working as they should.

But what is the purpose of all of these different checkups and tune-ups? Knowing the top reasons for keeping your car checked up and healthy will help you to make car care a part of your regular routine.

Gas Mileage

One of the major reasons for you to keep your car in top shape is gas mileage. Your gas mileage is completely dictated by how well you take care of your vehicle. People who have not gotten the oil changes that they need will find that their gas mileage will drop significantly. The same can be said for those who do not check the air pressure of their tires; both high and low tire pressure can result in poor gas mileage.

General Safety

One of the other reasons for you to keep your car checked out and healthy is general safety. Engine checkups and tune-ups help to make sure that your engine is working as it should, keeping your vehicle from leaving you stranded on the side of the road. The same can be said for checking the battery, and for checking basic needs like power steering and transmission.

Tire pressure also plays a large part in keeping you and your vehicle safe. Those who have poor tire pressure can blow out a tire as they drive causing a dangerous accident that can lead to a crash. Those who keep their tires checked out severely reduce their chances of blowing out a tire.

Car Longevity

Want to keep your car running for as long as possible? Make sure you get it checked out on a regular basis. This checkup will be able to catch a wide variety of problems, ranging from belts to brakes to hoses. The earlier you catch the issues, the lower the amount of damage to the car. The more that you can do to make it easier for your car to run, the more miles you will be able to put on the car over time.

When people think about getting their engine checked out and getting their oil changed they do so because they have been told to. A vast majority of people simply fails to understand why they need to do these various things to their vehicles. Take the time to understand not only what you need to do for your vehicle, but why you need to do it. It will help to justify the money that you spend on taking care of your car.

Finding The Right Franchise

Whether it’s hamburgers, pizza, telecom, coffee, Internet, muffler parts, or seniors’ services, there are Franchise opportunities available to evaluate. There are great Franchise systems, good Franchise systems, and bad Franchise systems. The challenge is to ask the right questions to find the right system that will fit your goals and dreams. The key is to ask the questions – and listen closely to the responses. Only then can you determine if the Franchise opportunity is the right fit for you. So whether it’s food services like burgers or coffee, professional services like telecom or IT, or manual services like cleaning or oil changes, ask the questions and record the answers.

Communications With Existing Franchisees

One of the most important sources of valuable information will be the existing Franchisees. The Franchisor’s system should include available exposure to all of the Franchisees. First of all, in most jurisdictions where Disclosure Documents are required, one of the required disclosures is a full list of all Franchisees, including contact information.

If you get a feel that a Franchisor is discouraging you from communicating with certain Franchisees – well, there’s that alarm bell again.

That’s not to say that all Franchisees will be happy, or that all will be great operators. In fact, most systems have disgruntled or unsuccessful Franchisees. It will be important for you to speak to the top echelon, the middle range people, and the poor performers. The test should be to identify the factors that differentiate the groups. Then determine how you are more like the successful people, and how you are not like the unsuccessful people.

The most important point is that the Franchisor has a system to allow efficient access to all Franchisees. Some Franchisors will provide email questions to send to all Franchisees plus ask you to call your own sample from the complete list. Others will provide for conference calls with several Franchisees. Others will provide for Discovery Days including existing Franchisees. Of course, conference calls and Discovery Days will include ‘favorable’ Franchisees. That doesn’t mean those processes aren’t very helpful – you just have to realize who you’re dealing with.

Other Franchisors will ask you to talk to people in your geographic area. Or people with a similar background. All of these things make sense, but you must ensure that you also have the ability to communicate with any existing Franchisee, and not just the suggested sample. You will be able to judge the Franchisor’s openness through their reactions in this process.

To receive a free copy of an E-Book titled ‘Franchise Opportunity – Making The Right Decision’ by Dennis Schooley, email that request to corp@schooleymitchell.com.

Are you trying to set yourself up on a budget so that your financial life is easier for you to manage? Do you want to know where your money needs to go each month so that you can plan correctly and take care of all your expenses? There are a few different theories when it comes to how to write a budget, but there is only one way to make sure you are not surprised by expenses you do not think about. Here is the correct way to write your budget.

You need to start with all of your expenses. This means you need to get a list of everything from your utility bills, mortgage or rent, car payment, insurance, to your license fees, car registration, oil changes, Christmas spending, birthday spending, and everything else in between. Anything that you spend money on in a years time needs to be included in your budget. If you forget about the quarterly or annual expenses you will be surprised by them and it will throw your budget off.

Next, you need to weigh your expenses against your income. Break any expenses that are not monthly down into monthly expenses to make it easier to work with. Then, you need to add them all up and subtract them from your income. The amount you have left is what you are allowed for savings, entertainment, and other things that are not necessities for your survival.

If you are not happy with the amount that is left over, then it is time to look at your expenses closely and figure out what you can live without. You might have cable television just so you can watch one show a week. Maybe that show is offered on the internet for free. Maybe you barely ever watch your television and that is an expense you can throw out. There are many other needless expenses that are usually in our budgets. Take a close look and eliminate anything that is not necessary for you.

Last, you need to figure out how much you are willing to waste on entertainment each month. This is your nights out, your movie rentals, and other things we do for enjoyment. There are many ways to make cuts here and still have a great time. You also need to figure out how much to save for general savings, vacations, emergencies, and other things you might be saving money for. This is how to write a budget the correct way and make sure you do not leave anything out.

Do you know what the benefits of setting up a household budget are? Do you need a budget to help you control your spending so that you can save for retirement and other things? There are many ways to set up a budget for your household, but if it is done incorrectly you will end up in a bad place. Here is an example budget set up on $5,000 of take home income from the man each month and $1,500 from the woman. We will assume they have 2 children and live in a 3 bedroom medium sized home.

Total income for budget – $5,000 (You should always keep the woman’s income out if there is a possibility that she could become pregnant and if you are 100% sure she cannot, then base your budget off of the top bread winner only)

Monthly Expenses

Mortgage – $800 (taxes and insurance figured into payment_
Car Payments – $350
Car Insurance – $200
Health Insurance – $175
Life Insurance – $40
Utilities – $250
Cable or Satellite Television – $75

Other Expenses

Gas – $100 per week
Groceries – $100 per week
Oil changes – $60 every 2 months
Children’s extras – $100 every 6 months (This includes dance classes, little league baseball, and any other activities your children have to pay for)
License Registration fees – $200 annually
School lunches – $75 per week (1729.66)

Extras and Entertainment

Family Night Entertainment – $200 per month
Clothing – $150 per month
Other entertainment – $200 per month
Spending – $125 per month

Tithing (charity contribution)

10% of income – $500 per month

Savings

Emergency Fund – $129.66 (for car repairs and other emergencies)
Vacation fund – $150 per month
Retirement – $150 per month
Christmas Savings – $100 per month
Savings – $100 per month

This will all add up to $5,000 per month and you still have the womans income of $1,500 that should be used as following:

Extra income – $1,500

Tithing (charity contribution)

10% of income – $150

Savings

Emergency fund – $100
Vacation fund – $200
Retirement – $200
Christmas Savings – $100
Savings – $200

Extra Mortgage Payment Per year – $800 per year

Monthly amount – $67.00

Extras

Spending Money – $483 per month

This leaves you with plenty of cushion to deal with your expenses and have savings for emergencies and other things. There may be other things you need to figure into your budget and when setting up a household budget you need to include everything you have to pay for regardless of what it might be.