Yes. I have a sponsor child. Do I write to him? Not as often as I should. Do I pray for him? Not as often as I should. Do I consider his plight against the backdrop of my own western materialism, never having need for anything?

Sponsor children can become like fashion accessories for the western family. "We have three!" you may boast to your friends as you scour their refrigerator door. It gives us a sense of "We're doing the world a favour here." That $40 a month may mean you miss out on a couple of extra latte's each week but you won't need to question whether dinner will be served tonight.

I have this picture on my wall at home. It's there for a number of reasons but the main one is to remind me that I'm blessed. More than that though, it reminds me that I have an obligation. An obligation to remember that this little life could have been mine, or worse - the life of my child. If that were me I would've desperately wanted someone to reach out and help me - not just take a photo of my plight to sell to some newspaper.

Kevin Carter picked up a Pullitzer prize for photojournalism in 1994. Read his story here...

Posted by Stuart at 6:40 AM | Permalink

Is personal finance an issue that can be taught or do you just pick it up along the journey of life? The 'school-of-hard-knocks" is where many seem to sharpen their teeth on fiscal matters but is that the right playground for our society to be maintaining?

I've just read another article Back to personal-finance basics on a school system hoping to influence young students in money matters. I'm bouyed by the optimism but I struggle with the pressures that you can't teach kids that will inevitably inch their way into their lives.

For instance, here's a big one: Will they teach them that staying together in a relationship and working hard at it to make it successful makes better financial sense that separating years down the track? What about those ridiculous purchasing terms of "Pay nothing now - 4 years interest free" - how do you teach kids when they're mates all have the latest Plasma that delayed gratification is a better deal?

I'm all for education, but education taught as theory only seems to me to be the biggest waste of time. You would never train a doctor purely from manuals and tutorials. They need experience with the tools of their trade - bodies and scalpels. The same needs to happen with teaching kids about personal financial skills. They need to somehow deal with the pressures of this world in a simulated environment that's as close to real as possible.

Where can this happen? Where it should happen - in the home.

Posted by Stuart at 6:24 AM | Permalink

Why would smokers need to pay higher premiums than other drivers? I'm not condoning the practise of smoking by any stretch of the imagination, however, I am intrigued to the reasons this would be a risk factor in the premia calculations.

Do car insurance companies expect that smokers might instantly die of lung cancer at the wheel, careering off into oncoming traffic? Is this a regular occurrence? Do they have data that states 1in 5 drivers who smoke will cause a major accident as they inadvertently suffocate while driving?

I can understand why they assess young drivers as a greater risk. I understand why they assess drivers who've had previous motor vehicle accidents as risky. But I just don't get this. Next they'll be increasing your premiums because you have a Plasma TV in your north facing living room.

Hang on! I've just worked it out. Maybe, while they're smoking they accidentally drop their cigarettes in their car and they end up burning the whole vehicle. Probably more risk there....

Read this funny little article.

Posted by Stuart at 7:05 AM | Permalink | Comments (1)

There was the one about "...losing control of the car as the driver swerved to hit his mother-in-law" and other assorted goodies that fall into the category of "Are-these-people-for-real?" insurance claims.

Here's one: Churchill Home Insurance has had a claim for "...a roast chicken burning a hole in a kitchen carpet." After working in the hospitality industry for nearly a decade, I thought I'd seen most bizarre acts of cooking ingenuity. However, this one takes the cake (pardon the pun!).

How is that you make a chicken roast on the carpet? Do you rub it's legs together like an Indian trying to get a spark from two bits of wood? Is there some electro-magnetic energy source that allows one to bake a whole chook on the shag pile?

I've often wondered why people put carpet in the kitchen in the first place. Mind you, it seems quite reasonable a proposition if you can cook off it - doesn't it? You just need to beware that you don't leave the chicken on the carpet for too long.

Posted by Stuart at 7:17 AM | Permalink

If you've ever been one of those husbands that expects the 'little woman' to get a job rather than just wasting their time watching Oprah, this may be the home-based business for your family.

Deborah McNaughton started a home-based business for mums so they didn't have to palm off the rug-rats while treading the "we-need-some-extra-cash-if-we're-ever-going-to-take-a-family-holiday" path. The idea is based around the party-plan concept (it's a definite winner already) where women can design, create and pay by credit card for their own piece of custom-made jewellery.

DITY beads, the name behind the enterprise, have a seemingly different scope on selling their merchandise. Whereas most party plans take a product to the consumer DITY beads has the consumers designing their own pieces of jewellery and then they're handcrafted by other stay-at-home mums earning money for their time.

I'm just a little concerned! With all this new jewellery will they think they're too glamorous to do the cleaning?

Read the article...

Posted by Stuart at 6:45 AM | Permalink

Apparently, yes! That is if you have a steady job and income. If you're a bum who has seasonal employment and changes residences more than you change your pasty Target underwear, you're probably okay. It may become harder to get another credit card once they've revoked your allowance on the one you've just sky-highed, but at least you won't be sued.

It seems then that credit cards are only for the poor and destitute, or at least those who are willing to run when the bailiff knocks on the door.

Read this article from CreditorWeb.

Posted by Stuart at 7:20 AM | Permalink

I'm into frugal...I actually get it! But I always assumed frugal was for those on a budget not those that had a budget the size of a small nation.

I've just read Reuter's interview with IKEA founder Ingvar Kamprad who happens to be the fourth richest person in the world. He takes pride in driving a 15 year old Volvo (I'm amazed he takes pride in driving a Volvo period) and flying the world economy class.

For the record, I am impressed with his leadership example as he lives out what he expects from his employees at IKEA. However, if I had $28billion to my name I'm not sure I would be trying to save for a rainy day. Maybe that's why I don't have $28billion at my disposal?

Posted by Stuart at 7:02 AM | Permalink

While everybody has a belief system (Christian, Islam, Catholic, Buddhist, atheist, agnostic etc) this hasn't always translated into their dealings with money. Many investors, especially those who hold nominal beliefs, would argue that the two, Money and Beliefs, are not congruent and should be dealt with at arm's length.

If you believe that gambling is a bad thing you may not venture to a casino but you may invest in Aristocrat Leisure because it's share price keeps booming. You may not believe in promiscuous lifestyles but it doesn't seem to rate a bleep on the radar when purchasing those Ansell stock options. Or does it? Can our belief structures begin to dictate our investment portfolios and still make solid returns?

Todd Larsen, quoted in this article Investors bet on their faith says,

Investors are finding that they don't have to sacrifice returns to invest with religious values in mind. Some faith-based funds have consistently outperformed the broader market, and performance between screened and unscreened funds is competitive

Could it be possible that what you stand for can actually stand up to the investments that go against your values?

Posted by Stuart at 7:45 AM | Permalink | Comments (1)

Have plastic - will shop! Tired of seeing those credit card statements roll in each month and find that you're kicking yourself for some of the purchases you made on that list. Then there's the usual discussion with your spouse concerning the relevance of such transactions like "I don't remember ordering anything from Danoz this month?", "A Mars bar, you put a Mars bar on the card?"

They say hindsight is the greatest teacher you just don't want to have to use it at the end of every month. So, rub some ointment into those bruises, lift your head up from the ground and let's apply some strategy to next month's purchases.

1. Stop and think. Unless you pay your bill in full each month, never use a credit card to pay for anything you can eat or wear.
2. Avoid using credit cards to buy nonessentials, like an iPod or a TV set. If that's what you really want, show some personal discipline and restraint. Save the money to buy it.
3. Get rid of all your cards but one. Hopefully, that will be the one you've had the longest, as history plays an important factor in the credit-scoring process. Now make it hard to use. Remove it from your wallet and keep it in an inconvenient but safe place.
4. Don't take cash from your credit-card account. The interest rate for cash advances is much higher than for purchases, the cash-advance fee is ridiculous and there is no grace period on cash advances. You start paying interest right away. Worse, you cannot begin to repay the cash advance until all of the lower-interest purchases are paid. If you carry a balance, that could take many years.
5. Do you really think credit-card companies are interested in giving you something for nothing? No way. Throw away all offers that come in your billing statement. Don't even read them, and you'll avoid temptation.
6. Read your monthly statements carefully. Look for hidden charges, such as credit insurance, administrative costs and mysterious fees. Question everything and ask that these weird obligations be reversed.
7. Don't pay for theft insurance on your credit card. You don't need it. If your card is stolen, you're liable for only $50 at most, anyway. And forget disability insurance. It will make your debt worse if it ever kicks in. Sure, you won't have to make payments for a season, but the interest continues to accrue, so the debt will just pile on.
8. Always use the envelope provided in your statement when mailing your payment. It contains the most current mailing address, and it has bar-coded information that will speed it through the processing system.
9. Last (and possibly most important), pay off your credit-card balance each month. You'll avoid frittering away thousands of dollars in interest and fees every year.

The source for these tips is Mary Hunt, Everyday Cheapskate.

Posted by Stuart at 6:50 AM | Permalink

Perhaps! In fact most investors claim that 23% take the financial advice from friends and family, 26% from traditional financial advisers and accountants and 20% from online resources according to this article. Sure, if your kids are still in nappies, or they struggle to manage a car then allowing them to influence your financial decisions could be costly - perhaps bordering on stupid! However, if your child is old enough with enough investing nowse under their belt - why wouldn't you?

Still, the cry for more online resources for investors increases. However, if the desire for online advice and resources becomes too great it will impinge on one of the other two sources of financial influence - and it won't be the family and friends!

Maybe the days for traditional financial advisers and accountants are numbered. People will always tend to rely on those closest to them to influence their decisions and that usually isn't the professional number-crunchers.

Posted by Stuart at 7:21 AM | Permalink | Comments (1)

[You need to read this with one of those foreign female sales voices ringing in your head. Imagine the Barbie Tour Guide in Toy Story]
Are you sitting down? Good. This will work much better if you just stay right where you are. Actually, do you have a more comfortable chair in the house? You have a Lazy-boy. Fantastic. Could you perhaps move over and take a seat on your Lazy-boy? Great. Comfortable? Okay...we're on our way.

Welcome to the new PAS2000. PAS stands for Prosperity Automated System which is what I would like to demonstrate for you now. The benefits of PAS are obvious. You'll never need to work another day in your whole entire life. That's right, not one single day.

As you sit and enjoy the latest DVD's on your new Plasma TV you'll thank your lucky stars that you decided to invest in your own personal PAS. While you rest or play, PAS is working hard to bring you all the riches you ever dreamt about. Turn it on once, then sit back and enjoy the rewards.

What's more, we include a 21-day satisfaction guarantee. That's right, if your not wealthy within 21 days we'll give you your money back, and you still get to keep the free steak knives.

A Cure For The Home Based Business Blues

Posted by Stuart at 7:25 AM | Permalink

I've just finished reading this article titled Learn To Be Wisely Frugal But Selectively Extravagant! which discusses the merits of living like a pauper while earning an income of the rich and famous.

The author of the article bases their opinion on the assessment of economic cost to the detriment of enjoying the one, and may I remind you - only - life, you'll ever have.

If Warren Buffet, who happens to be the second richest man in the world - ahead of 6 1/2 billion other souls - is still making decisions based on the economic cost to his vast fortune then I pity the poor guy. I think I might actually be richer than he is!

Posted by Stuart at 7:15 AM | Permalink

It can't be too hard to save money, surely? It must be though as credit becomes more and more rampant and those financial gurus seem more and more concerned with our lack of saving habits.

I have a few friends who struggle with saving and are using the tax system as a saving mechanism. They happily allow their employers to deduct extra tax from their wages with the hope of being able to claim it all back once they submit their annual return. They brag to me about their supposed 'windfall' not realising that they were allowing the government to borrow their money free-of-charge for the past 12 months.

On the other hand though they now have this pool of money available to them which they probably would have struggled to save during the course of the year. Which begs the question, why is it so hard to save money? And, is forced savings a key to helping these people get ahead with their finances?

Posted by Stuart at 7:19 AM | Permalink

Very rarely does a TV advert catch my imagination but one from Real Insurance slipped under the radar of complacency and pricked my ears to attention.They were offering....wait for it....a cash bonus paid back to you if you didn't claim.

The whole deal can be found at Real Insurance's website. Apparently, if you don't claim for 3 years you become entitled to receive 10% of your premiums paid back to you. What a great concept?

Sure, insurers have been offering discounts for yearsbut I've never seen them pay cash back to the customer. My only question is do they still charge the same premium's over that period or do lack of claims also reduce the risk thereby reducing the premium amount?

Posted by Stuart at 7:04 AM | Permalink

Sprite coined the phrase in their marketing campaign in 2001 starring the NBA's Grant Hill and seemingly it's been the reality for a generation, or two.

We base image as the number one advertisement of who we are and what we mean to society. If you're making a lot of money it's unlikely that you're still driving that Datsun 120Y you had when you started out at college or university. Datsun 120Y's scream "Poverty-stricken-teenager-that-can-hardly-afford-the-fuel." This is not a great image if you're a real estate agent or financial planner trying to woo your next client.

So, is "Image" everything? Could I honestly look at my last 5 purchases and say they had nothing to do with forming and reiterating who I think I am?

As a youth pastor I love working with teenagers. This age group are like sheep when it comes to image. Us older guys, on the other hand, are so much more mature and no longer succumb to peer-pressure. We don't care if people don't approve of our ruggedly rusty golf sets, or our family car that's been bruised and battered and it's only a month off the showroom floor. Maybe the teenagers are just a bit more honest about it.

The problem with image, other than what psychologists will tell you, is that it costs a lot of moolah to remain loyal to a pre-defined image. Even 'gothics' who lounge around town centres in their hideous black garb have dolled out small fortunes to dress that way.

I went shopping with my wife to Target (pronounced Tar-sjay) last week and she picked out - yes, my wife is my image consultant - a new pair of torn denim pants and a very cool new T-shirt. I asked a couple of teens to try and estimate the cost of my new outfit to which they unanimously decided the pants would have been no less than $75 and the T around $20 - 25.

I took great delight in sharing with them the true cost: Jeans - $9.90, T - $3.80. Not bad for an almost $100-looking outfit.

Yes. Image is (almost) everything but to obey your thirst for this narcistic appetite you don't have to take out a mortgage.

Posted by Stuart at 3:25 PM | Permalink

Have you been missing something lately...like an aunt or an uncle, a second-cousin twice removed? Perhaps you didn't know that they were missing at all. Worse still, even though they've been found to have died recently you can't remember them even being born.

Don't let that stop you when that unsolicited letter from some charlatan attorney reaches your mailbox. It may be carrying the good news that an unknown relative has an unclaimed inheritance waiting for you to pick up just by filling in the form and attaching a cheque for $30. This of course is the essential admin fee for processing the necessary searches just to make sure that the dead aunt was really part of your family.

While many countries hold unclaimed assets in trust funds available to those who can present proof of their entitlement it is rare that they hold large amounts.

Unscrupulous white-collar criminals know this but when sending out their bulk mail. They'll come across an unclaimed inheritance and then mail out a letter to all families who bear the same last name. The chances of you being the actual recipient are incredibly small but if you pay the $30 you'll have peace of mind that it wasn't.

How do you cover yourself from this type of fraud? Firstly, check with other family members as to the possibility of long-lost relative. If there was an Aunt who ended up living as a hermit on some remote island then your chances have increased. Unfortunately, so has the rest of the family's.

Secondly, attorney's that preside over wills and estates do not charge the beneficiaries for their services. Their income is derived from the person creating the will.

While $30 may not seem a big deal and if you lost it for that "peace-of-mind" it may actually appear as an investment. But remember these charlatans are ripping you off and should be held accountable for their fraudulent acts.

Posted by Stuart at 6:57 AM | Permalink

What is happiness? The most ambiguous question posed in the universe apart from "What is love?" is often associated with this question regarding money and whether the more you have the happier you will be. Well, can it? Is happiness for sale? Is there a store at the local shopping centre that trades happiness for some of your hard-earned cash?

Wikipedia define happiness as;

Happiness, pleasure or joy is the emotional state of being happy. The definition of happiness is one of the greatest philosophical quandaries. Proposed definitions include freedom from want and distress, consciousness of the good order of things, assurance of one's place in the universe or society, inner peace, and so forth...

The first proposal in Wikipedia's definition regards this very question, "...freedom from want and distress..." So, if money can free you from want then surely it must be able to buy you happiness! Right?

Financial freedom is the state most people chase. The ability to pay your own way with everything without ever having to check the credit card statement in fear and trepidation.

It's why we set up pension funds, play the lottery, spend more time working than we do playing with our kids. We hope to one day be independent of a boss, of a budget, of any constraint that could limit our desire to be happy. To spend whenever we had the inclination.

Okay. This is just frivoluous spontaneity. It bursts onto the screens of our life for a short time and as quick as it came it goes. That's a shallow expectation of happiness. I want happiness that survives time. Can money buy that?

If money can buy happiness, how much would I need and how much happy would it make me? I earnt a couple more dollars this month on my Adsense account but it wasn't even a blip on the happiness radar. So how much would I need?

John Silveira's article "Money can buy happiness" says this...

How much do the experts say is enough? In a study conducted by Andrew Oswald and Jonathan Gardner at the University of Warwick, in Coventry, England, they discovered about 1.5 million tax-free American dollars moved most people into the top 2% on the happiness scale. Their study also revealed that, at the low end of the scale, each $75,000 moves one between 1/10 and 3/10 standard deviations (which is a measure of how statistical data is spread out) up the “happiness” scale.

I know John has a lot of statistical evidence showing that perhaps money CAN buy you happiness but for me the jury's still out. I know a lot of people who earn less than A$20K per year who are happier than some with dual incomes earning A$100K per annum.

I think it has more to do with contentment and self-identity than it does with the amount of money you have or earn. If you're striving to have more money and know that you're not making it this will lead to all sorts of anxiety issues which will deprive you of happiness.

Maybe learning to be content and set achievable goals for our money is a key to happiness?

Posted by Stuart at 11:23 AM | Permalink | Comments (1)

What is your reaction when you read about ‘a portfolio of shares’, ‘a bull market’ or ‘diversifying risk’? Do you just see hieroglyphics and run for the hills?

Many find the thought of investing in shares a daunting task but if broken down into bite-size lumps of information, it is easier than you think.

The first bite-size lump to digest is the big question – “am I ready?” Tackling this question will set you on the road to financial freedom.

You need to determine if you have the spare cash to make investments in shares. The easiest way to do this is to make sure you have your financial ducks in a row. You can see just how straight this row is by drawing up mini financial statements – a personal balance sheet and cash flow statement (see tables).

A balance sheet gives you a snap shot of what you own and what you owe. A cash flow statement is a budget, showing what goes in and out.

These calculations will determine how much money you have available to invest. It is prudent advice to only consider investing in shares once you have paid off all your short-term debt. It makes no sense to borrow money to buy shares.

By looking at the first table, you can see the assets are listed in the order of liquidity. Depending on how liquid an asset is determines how quickly you can convert it to cash. Your property investment, for example, is not very liquid. You can convert it to cash but it won’t be as quick and as easy as drawing money out of your bank account.

Liabilities are amounts of money that you owe to someone else. Interest is charged on these outstanding accounts and eventually, you have to pay them back.

After doing all this, you end up with your net worth or net asset value. Growing your assets and shrinking your liabilities will take you one step closer to financial freedom.

The second table will determine how financially healthy you are and can answer your “show me the money” question.

Another step closer to financial freedom is making sure that what comes in is more than what goes out.

Once the financial ducks are in a row and you have worked out that you have money to invest, the spotlight turns to you, the investor and your plan of action.

Your appetite for risk plays a big part in deciding what shares you want to invest in and how much you want to allocate to each. Going for the conservative approach may appeal to someone with retirement around the corner while a spring chicken may prefer a portfolio of shares with a sprinkling of risk.

Consider job security and a reliable income. Someone with a generous salary and self-employed businessman and a pensioner all view the stock market differently.

Your plan of action must always include being in control of your finances. Keeping a constant finger on the pulse and budgeting on a daily basis helps keep you on top of your game.

Set your sights on financial goals and jot down what you would like to achieve. Shares are the long-term tools you are going to use to reach financial freedom. The aim is to build your wealth slowly and spend it wisely.

Source: MoneyWeb - Gaylyn Wingate-Pearse

Posted by Stuart at 7:11 AM | Permalink

If you can save money on anything, insurance would have to be at the top of the list. If you don't have it - you'll find you probably needed it. If you do - you'll probably never use it. For most consumers insurance is money that could be better spent elsewhere so if you can save in this area you're doing you budget a huge favour.

This article outlined 4 great ways to save some more on your car insurance premiums.

1. Install a Car Alarm A car alarm is a great theft deterrent. While it may not work in all situations (if a professional thief is going to steal your car then they're going to steal it) it will deter many would be thieves. Here in Australia, a car immobiliser is also required.
2. Take more training In research studies it has been shown that most drivers believe that they're "Above-Average" drivers. Which goes to show that we're probably all pretty useless when we get behind the wheel. Advanced driving courses are a great way to show car insurers that you're serious about your driving which will go a long way to reducing your premiums.
3. Shop around Insurance for any item is a competitive industry which is great for the consumer. Take the time to get a few quotes from different companies before accepting the first quote you get.
4. Purchase online In a bid to reduce admin fees, most insurance companies offer cheaper premiums for signing up on-line. It's quicker, less hassle and can save you a few dollars.

Posted by Stuart at 6:48 AM | Permalink

Could it actually be healthy for you to own your own home? Apparently so according to this US News article.

It makes sense though doesn't it? If you were able to make all the decisions yourself what a difference it would make on your well being. You would be able to take more pride in the home in which you live, adding to and changing the landscape, removing walls that no longer worked in your home and even painting the kids bedrooms the colours they wanted rather than what you're landlord wanted.

We rented for the first 8 years of marriage in 5 different houses and it wasn't until we built and moved into our own home that life looked a little more stable. We planted a garden (you can see it here) and we started to take more pride in the home we lived in.

Homeownership is by far the best thing we've ever done and it's showing up in research studies that it is a good thing for society.

Posted by Stuart at 6:59 AM | Permalink

Setting up a budgeting worksheet isn't a hard chore. In fact, if you like using spreadsheets it can actually become quite enjoyable.

The beauty of a budgeting worksheet is that you can see all your numbers at a quick glance in an easy to read format. It's instantly editable so changes can be made on the run and will save considerably on white-out. And perhaps the best feature, is that you can always keep a history of your transactions (depending on your hard-drive space).

I'm a fan of MS Excel - my apologies for those who have issues with Microsoft - because I find its powerful calculations are easy to manipulate to help me better understand my finances. It doesn't really matter though which spreadsheeting package you use so long as you are able to calculate your amounts effectively.

There are commercial budgeting worksheets available but if you want to create your own its a simple process.

I've found that when creating a budgeting worksheet the best way to start is with a set up like this;

1. Firstly, place your pay dates along the top (shown from A1 to G1). These can be weekly, fortnightly or monthly or any period that you normally work from.
2. Then list out each income source and the amounts you receive from them. For irregular payments such as Christmas bonuses etc set up a row sepcifically for this and maybe name it "Other Income".
Your next task is to identify all your expense areas whether they're irregular or not. Set up two columns for each pay period (as shown below);



The first column called "Bdgt" is the portion of your income that each expense area will be assigned. The total of this column should never exceed the income you receive for that period.

The second column "Used" shows a negative amount and is a record of what has been spent from that period. The beauty of this system is that it will always give you a running balance.



3. This column is where this system stands out. It is just a simple SUM(B13:G13) formula which picks up the totals of every expended amount and subtracts it from the total of each budgeted amount. It then shows how much you should have available in each expense area.

   

   For example, you will notice that each income period $25 has been going into the electricity account. Your electricity bill is charged every 60 days so you need to accumulate these funds for when the bill arrives. This account is now showing a total of $75 held.
   



4. Finally, you need to total that last column so that you can reconcile it with your bank account.

   

   This amount should always equal your bank account precisely. If it is then you're doing well.If it doesn't then you know you've missed some source of income or some expenses haven't been included in the "Used" column yet.
   

Posted by Stuart at 6:51 AM | Permalink

Finding a replica Louis Vuitton is as easy as finding nits in a school playground, perhaps easier. But finding the real deal is a harder prospect - especially when they all claim to be the real deal.

Louis Vuitton anything has value. Whether it be a wallet, a purse, handbag or travel bags, if it carries the insignia of LV it gives the person carrying it the priceless commodity of ego. The fashion statement of carting your precious items around is instantly, and internationally, recognizable.

But counterfeiting items such as a Louis Vuittion purse or wallet is becoming an industry in itself. authorities closed a factory operating out of Guangzhou, China which was making, and selling, replica Louis Vuitton items. Who were they selling them to? Foreigners of course. Tourists who were looking to buy quality accessories at a cheap price.

Some of this material was researched from the Happygrrls website.

Posted by Stuart at 12:50 PM | Permalink

Xango LLC is a company that has been going for the past 3 years selling health supplement mangosteen juice under the brand name, Xango. The Utah based company has had various accolades inlcuding this one but has also come under fire from critics as well.

However, it depends who you read as this article spells out why critics are so vocal;

It is not in the best interest of the pharmaceutical companies to let this information be known that natural remedies, such as the Mangosteen juice may aid and assist in the prevention of "killer diseases".

The business is based on the network marketing or multi-level marketing (MLM) system which is the method that has been employed by Amway, Herbalife and others for many years now. It's a fair system that can reap good rewards so long as it's viewed like any business that hard work is one of the main factors. For more info on MLM's read one of my earlier posts.

Xango bases it's profit share on 50% for the company and 50% for distributors. The compensation plan goes into more detail for distributor earnings which are derived from "legs" within your distributorship. The interesting thing with a mangosteen distributorship is that you can only be paid to a maximum 9 legs. Most other MLM's pay for any and all legs.

To get started it should only cost you US$35 as a once-off distributor fee and you can also buy your first case of 4 bottles for US$100.

Posted by Stuart at 7:00 AM | Permalink

If you're after a rewards program for your credit card then choosing one that offers frequent flyer miles may be your best bet. However, if it's the only reason you're getting a credit card then you're making a big mistake.

If you're good with handling your money and can manage it well then adding a rewards program like frequent flyer miles to your credit card can work for you. Each dollar you spend accrues flyer miles and can be redeemed on available air routes across the country or internationally. If you use your card well, paying it back within the interest-free period and not buying spontaneously, you will accrue your frequent flyer miles quite cheaply.

However, if you're spending habits are erratic and uncontrolled and you're hoping to get cheap flights throughout purchasing on credit you will be sadly mistaken. The costs for this type of spending habit are incredible.

If I want to redeem my frequent flyer points on a flight from Perth (Australia) to Los Angeles (USA) it will cost me 120,000 points. The same flight would only cost me A$2563 if I purchased them today. Now considering that each point would cost me $1 of credit card purchases (may be less with increased transactions) it calculates to be more than $46 for every $1 spent.

A local bank here in Australia is also offering other rewards instead of frequent flyer miles. These are even worse. One of the rewards you can trade your points in for is a men's Philips HQ6707 Philishave electric shaver. These retail in Australia for $159 but would cost you 16,250 reward points. The trade off to accrue these points is $1.50 of credit card purchases for every 1 point. Calculate this and you'll find that you need A$153 for every $1 of spending.

You also need to understand that these cards usually charge an extra annual fee to participate in the reward program and the interest rates charged on these cards are usually 16-18%pa.

The verdict: If you're good with your money these are a great benefit but if you're struggling to manage your money already stay away from them or at least get a low interest credit card.

Posted by Stuart at 9:26 AM | Permalink

It seems that every bank is now offering a low interest credit card as part of its financial marketing agenda these days. The rush to compete has come with some extraordinary benefits for consumers with local bank Bankwest offering a low 8.99% and the Commonwealth bank weighing in with their first bite of the market offering 10.99%.

It's good for consumers who have reluctantly accepted the higher interest rates in the past due to the lack of options in the credit card market. It allows the customer to use the card for all banking facilities including EFTPOS while retaining the usual payback period of between 40-55 days.

It illustrates that banks, after repeated denial, can offer much lower interest on credit cards. Who knows, we may even see the competition heat up even more that we will also enjoy frequent flyer points or other reward systems as part of their marketing plan.

Posted by Stuart at 7:06 AM | Permalink

They say that giving is far better than receiving. Obviously the proverbial "they" never received much or they would have noticed that receiving outshines giving a million to one. And when it comes to receiving wedding gifts not even Christmas can hold a candle up to it.

This is the fun part of getting married. It works by going to your favourite store and creating a list (or registry) of all the things you wouldn't mind having adorn your new love nest. You'll need a toaster, kettle, clock, bed linen - maybe a couple of clocks - and perhaps 3 toasters all exactly the same. If people would only just stick to the list!

There seem to be a few variations on wedding gift registries these days. One option is to ignore the registry idea altogether and ask people to give money for . Another option is a Honeymoon Registry with the idea of having our honeymoon purchased by your guests.

The most important thing to remember though is that 66% of people who are invited to your wedding will buy you a gift. So make sure you have a list of people who you know won't attend your wedding and 2 out of 3 will buy you a gift. Works a treat!

Posted by Stuart at 6:36 AM | Permalink

Now it's time to get down to business and consider the most important part of the wedding - food! I'll be honest...it's usually the only reason I go to some weddings because you know the food's going to be good.

Alas, we all know that catering for a wedding is no easy chore and it certainly doesn't happen without a lot of planning and forethought. There are more choices these days however, and with choice comes a cost/benefit analysis. Which option will have the most impact, with the least amount of headaches for the cheapest price?

Read on...

Here are your three choices;

1. DIY Catering

   
   IMPACT:
   STRESS-FREE:
   PRICE:

   DIY Catering can be a great option if it's done well. The main hassle is making sure that you don't make it too hard or involved on the day. Your biggest headaches are going to come from heating and refrigerating the food and also from preparation on the day and serving it.

   It's becoming quite common for couples just to offer an afternoon or morning tea (depending on when the wedding occurs) with just nibblies and drinks. This is quite easy to do and can save you a heap of money. The only challenge with this is to make sure you have enough people serving the food and drinks on the day.
   



2. Contracted Catering

   
   IMPACT:
   STRESS-FREE:
   PRICE:

   Contracted catering takes much stress out of the occassion by allowing a catering business to oversee all aspects of the food and drinks. It's their responsibility to supply the equipment needed to cater and also to ensure enough waitering staff are on hand during the reception.

   It may end up being more expensive to take this route than the third option but it is possible to still keep it fairly less expensive.
   



3. Restaurant or Function Cen