4 Real Life Emergencies & How to Survive Them

Things happen, and you need to know how to survive them. The people that laugh the hardest at preparing for unforeseen disasters are usually the ones who fall the hardest when they happen. When you take the time to become ready for anything, then there is very little that can actually surprise you.

Zombie Apocalypse

 

Image via Flickr by Michael R Perry

Where does the zombie apocalypse fall in the list of real life emergencies? It is real enough that the Centers for Disease Control created a website designed to supply the information people will need to survive it. If you find yourself in the middle of the zombie apocalypse, the first thing that the CDC recommends you do is run. Each family should have a survival kit consisting of water, first aid supplies and non-perishable foods. Grab your survival kit and head over to the nearest emergency center where the government will have troops prepared to deal with the emergency.

Lost at Sea

Image via Flickr by astrangelyisolatedplace

People can get lost in a variety of situations, but one situation that is rarely discussed is getting lost at sea. You could be fishing in a charter boat or pleasure sailing and have a storm push you miles away from shore. Being prepared for getting lost at sea begins before you leave your home. When you plan on going out in a boat, always tell at least one responsible person where you are going and when you will be back. If you do not return on time, then that person will have a location to give the authorities to start searching. Whenever you head out on a boat, always take at least three flares, extra water and food. You should also make certain that your boat's radio is in working order before you leave the shore.

Roof Leak

 

Image via Flickr by Lplatebigcheese

A roof leak can sound like an insignificant problem, but it can become very significant if it goes unattended for days and the weather is wet or cold. Not only will the leak damage your ceiling and walls, but it can cause water damage you will not see, which could lead to a mold problem. The first thing to do when the roof starts leaking is try to determine, as closely as possible, where the leak is originating above the ceiling. Then you would poke a hole in the ceiling and capture the leaking water in a bucket. This prevents the water from spreading and potentially causing more damage. The next step is to get the leak fixed immediately. If you do not have the cash to hire a contractor, then use Arizona payday loans to get the money you need to have the repairs done properly.

Armed Robbery

Image via Flickr by Greenville Daily News

Tough financial times can bring out the worst in people, and that means an increase in armed robberies and muggings. If you ever come face to face with an armed assailant, the best course of action is to give the robber what he wants and then call the police afterwards. You can increase your chances of avoiding a robbery by always walking with a friend, avoiding unfamiliar places at night and not carrying large sums of cash with you.

When an emergency occurs, you need to be prepared. It only takes a few moments to be ready for any real life challenge that may face you.

Resources:

http://www.popularmechanics.com/outdoors/survival/stories/4350720

http://www.secretsofsurvival.com/

http://blogs.cdc.gov/publichealthmatters/2011/05/preparedness-101-zombie-apocalypse/

About the Author

Shaun Chatman is a well published author on many authority sites. He lives in Dunedin, FL, and writes mostly about tech, gadgets and finance.

Small Business Predictions 2013

Happy Monday Everyone! 

Well by now the Monday workday is almost over. Fret not though because I have something just interesting enough to help those final work moments of day skip by just a bit faster. It's an infographic that details some predictions on where small businesses are heading in 2013. If you were thinking about making a pivot this year the information below could be a helpful place to start. 

One thing I hate is when economic indicators get misconstrued and mangled such that small businesses are scared to the point of inaction. I'm all for preparing for the worst but as an armchair economist I'm going to continue to encourage people to get out there and use their resources prudently but efficiently because that's how you create and foster an environment of growth. The paradox of thrift is probably one of the best ways to prolong a tough time. So take a look below and figure out how you can allocate what you have going on to make this your best year yet :) 

Where Small Businesses are headed in 2013 infographic

How To Rebuild and Fix Your Credit Score

This article was written by Gary Dek, a personal finance blogger and freelance writer who focuses on investing, budgeting, credit and debt, education and career advice, real estate and mortgages, saving, and car and life insurance at Gajizmo.com. Gary graduated from a top-ranked university with a finance degree and worked in the industry for 3 years before venturing out to start his own internet company.

A good credit score and history not only allows you to secure loans for a business, house, car, or other major purchase requiring credit, it also saves you money on interest rates and insurance. Landlords and potential employers routinely check the credit scores and histories of applicants and a bad score can mean losing out on a job, apartment, or real estate property that you really wanted. It may take a year or more to rebuild or fix a credit score, but it is worth the time and effort when it can mean the difference between spending and saving thousands of dollars in interest payments.

How Credit Scores Are Damaged
Life changing events, like divorce, a death, serious illness, huge medical expenses, or loss of a job often seriously damage credit scores because they all have an impact on your income. Loans that were taken out before the event may be difficult to pay if your financial circumstances change. Even those people who have used credit carefully and have a stellar rating can find their scores dropping into the danger zone if their income is reduced or eliminated by misfortunes out of their control. Some may be forced to file bankruptcy.

Bankruptcy affects your credit score in at least the short run and your credit history for between 7 and 10 years. Chapter 7 Bankruptcy liquidates the debtor’s assets and eliminates legal obligations for debts whether or not they have been paid, whereas Chapter 11 and 13 are reorganizations where the debtor and court develop a plan to reduce some of the existing debt and make payments over a 3 to 5 year period. Alimony, taxes and student loans are not included in bankruptcy liquidations or reorganizations, but still have a negative impact on credit scores. Unpaid debts may remain on credit reports for 7 years after a Chapter 7 filing.

Fixing Credit Scores
There are steps that anyone can take to rebuild good credit and fix the damage that was done in the past, but it does take some time. The first step is to obtain copies of your credit reports from the three major reporting bureaus, Experian, TransUnion, and Equifax. Check the reports for accuracy and make sure that debts that have been paid or discharged through bankruptcy have been removed from all of the reports. A recent study by the Federal Trade Commission found errors on more than one 1 of every 5 credit reports. Contact credit bureaus to report, dispute any inaccuracies in your reports, and be prepared to provide proof.

Open A Bank Account
People with bad credit may have difficulty opening a bank account, but some banks, like Wells Fargo, offer special accounts for those with bad credit or those who do not have a credit history. Online banks often have fewer restrictions for account holders and may provide a good alternative to traditional, brick-and-mortar banks. Credit unions are another option and fees and interest rates for credit unions are usually lower than those of banks (you can compare credit unions vs. banks to decide which better serves your financial needs). You can locate nearby credit unions by visiting the National Credit Union Administration website.

Secured Credit Cards
Not all secured credit cards help to build credit scores since many do not report to credit bureaus. They may also have high interest rates and fees since people applying for a secured card frequently have no other options. With a secured credit card, the account holder makes a cash deposit with the card issuer and the credit limit is the amount, or a percentage of the amount, of the deposit. Monthly statements are issued and must be paid. Payments are not deducted from the deposit unless the account is in default. Make sure your secured credit card company makes regular reports to credit bureaus before completing an application so you can quickly start improving your FICO score and credibility.

Installment Loans
Another way to build or repair your credit is through installment loans, though it takes about a year to have a positive impact. The loans may be secured with cash or property or they may be unsecured loans. Unsecured loans typically require a cosigner with good credit to guarantee repayment of the loan. To ensure that payments are made on time, you can set up automatic payments through your checking account even if it is with a different financial institution.

“Piggy Back” on A Family Member's Good Credit
You can become an authorized user on a friend or family member's credit card. Charges and payments made on the credit card will become part of your credit record. Authorized users are entitled to a card on the account, but if you want to maintain your good relationship, decline the card and let the card holder keep it. As an authorized user, you do not have to be responsible for making payments, but can “piggy back” on the primary user's good credit to improve your credit score and history. The card holder must contact the card issuer to add an authorized user.

Student Loans Repayments
You don’t want to mess with student loans – they have the most stringent laws attached to them and even bankruptcy doesn’t absolve you of payment. Students loans stay on your credit record until they are paid in full. Late payments and missed payments show up in your history and can seriously hurt your credit score. Make paying off student loans a priority since they also have an effect on your debt to income ratio, which is an important consideration for lenders when you apply for mortgages, car loans and other credit. The only way to remove student loans from your credit record is to pay them off.

Prepaid Cards and Debit Cards
Unlike secured credit cards, the cash deposited on a debit or prepaid card is deducted each time you use the card. There are no monthly payments; the card has to be refilled with additional deposits and will be declined if there is no cash in your account. Prepaid cards and debit cards do not report to credit bureaus and cannot help you rebuild credit. These cards are pretty much the same as cash with the convenience of being able to shop online or pay bills by phone. It may be smart to have debit cards available to you in case of emergency, but if you can use your credit card responsibly, process payments through the company to help demonstrate a credit history. This is particularly important for students and young adults.

If you find yourself in trouble with credit for any reason, a reputable credit counselor may be able to negotiate with lenders to lower your interest rates and restructure your payments. The sooner you seek help or start taking action to rectify the issue, the less damage will be done to your credit score in the long term. Fixing and rebuilding credit takes some time, but good credit is necessary for reaching financial goals like a new car, home ownership or retirement.

5 Tips To A Better Elevator Pitch

If you were with me here on the blog yesterday I shared that I was judging an Elevator Pitch Competition at Bay Path College. It was an amazing event and I am really proud of all the contestants that put in a solid effort to get behind that podium and pitch. If you still don’t know what an Elevator Pitch is you should scroll down a bit because I quoted an awesome definition from Dr. Lauren Way of Bay Path College in the post before this one.

Today though I wanted to talk about how important your 90 Second Elevator Pitch is for everyday life. This is not just a skill to have refined but a resource you should have at the ready and it won’t matter where you are: networking events, social events, family events or even professional events. Whenever you meet someone new one of the questions you are probably always going to get asked is “What do you do?” Are you prepared for that answer. If you are a small business or entrepreneur how are you going to possibly create enough impact with that person that they might actually want to continue to engage with you. Which can include buying from you, collaborating with you, or referring to you.

The web and social media make great support tools but you  have to be able to confidently convey your mission, values, and efficacy face to face at some point in the transaction - or at least face to video screen. So here are 5 tips to make your elevator pitch effective, entertaining, and ideally profitable.

1. Practice. Developing a pitch takes work. There is no getting around that. You may know how great you or your products are but you need to be able to tell other people that in a succinct way. Rehearsals, rewrites, and even peer reviews are a great way to sharpen your pitch. Remember most of the time you are going to be talking to your stakeholders and not banks or venture capitalists. So make sure the language you choose is appropriate for the right audience. You should definitely have a few versions so that you can always land right where your listeners are. Practice also means you will have a basic core of information that you know you are constantly giving out each time you present. This makes it easier for people to remember, refer, and talk about you later because it’s the same type of story each time.

2. Identify the pain points your product or services addresses early on. Odds are your audience won’t have a lot of time or even interest if you start droning on about how special or unique your process is - worse off how great it will be for them if they try it. So avoid that by asking about an experience that anyone can relate to, the more uncomfortable and universal the better. Don’t be afraid to ask a few well prepared questions to get a handle on your current landscape. You can get creative here as long as you tie it back to how what you do addresses either the feelings of a situation you described or the problem itself.

3. Identify what makes you unique (read: better than the rest) and positioned as the best solution to those pain points in the second tip. This will also give you the opportunity to expand on the needs you satisfy in your market as well as the scale of that market. You should also be mentioning the types or clients/customers you serve as well as how you bring your solution to market. You have to remember though this pitch isn’t really about you. It’s about getting those around you invested in what you do - dropping emotional and even rational anchors on those listening in.

4. Really avoid filler, buzzwords and truisms. Truisms happen when you get too invested and believe your own marketing and hype. That might work for you but your listener might not consider those things entirely true at all or even share the same point of view - think about the last time you heard a financial advisor speak about something with absolute certainty...Yeah, odds are those were personalized truisms based on some nugget of information that might have been factual at the start but by the time you hear the pitch that information was mutilated and has been taken astray. As for filler and buzzwords they are never good. You want to craft your pitch as though you were talking to a 6 year old. Not because people aren’t smart but because you want to make sure that all of your audience understands you and what you do. All that extra stuff carries a chance of making people feel left out and distracting from your actual message.

5. Calls to action are great and hard unreasonable closes are the opposite of great. When deciding what your calls to action are going to be you really have to think about your goals. Are you looking for referrals, for someone not to throw away your business card, or just information and an introduction. All those things mean you have to build trust in a very short amount of time. Unless you are on the TV show Shark Tank you probably won’t be asking for an instantly massive hard close or sale. Remember you are talking to people and they are the ones who will ultimately decide whether you have proven yourself enough to be engaged with. Be very careful with how you ask someone to take action and if you say you are going to follow up. You better follow up!

I hope these tips help you refine your pitch. Remember no audience is the same. Facts, well positioned questions, and metaphors are always a good thing. You have to practice and you should really focus on being more of a storyteller and less of a knives salesman. I found a great resource from Harvard University that will help you get your pitch off the ground if you are feeling particularly stuck. Here’s the link - It’s kind of an Elevator Pitch Generator and I thought it was pretty neat. If you have any tips or tricks to help develop an elevator pitch I would love to hear about them! 

How Do I Choose New Health Insurance?

I figure it’s been awhile since I did a post about me so I thought I would share my experience with trying to find new health care. I’m going to share some of the things I’m considering while I look for a new plan.

All my tax prep lately has me thinking about my health insurance. It’s also because I have the opportunity to jump plans now probably as well. Anyone else? I should start by saying that I think health insurance is definitely a necessity. The ideas of paying premiums and having access to medical care in case I need it is just a staple of my personal financial plan, it goes in the same bucket as something like car insurance. Also if you live in a state like mine (Massachusetts) they make it a rule that you have to have some form of coverage or you get penalized at tax time.

I thought since I was actually making my way through the process of evaluating whether or not to commit to my current health insurer that I would share the things I’m doing to make sure I sign up for the best plan for me. Mainly because I didn’t utilize anything other than the preventative care stuff and feel like the opportunity costs associated with the premiums I did pay were kind of high.

The first thing I did was look at my health care costs over the last 2-3 years. I wanted to go back a little farther than one year to try to have as much information as possible for my health care technical analysis. Turns out I don’t do too much more than the preventative and annual check ups. Knowing this choosing a plan that might carry a deductible has become an option - with the hopes that my premiums will come down.

Taking a look at my personal situation I can’t say that there are any big life changes that I have coming up in the next year so I won’t have to worry about making sure my plan can accommodate. Over the last few years I haven’t really had the need for prescriptions, as I’ve been lucky enough to not be sick, but making sure there is some kind of support for those is important to me as well.

Being a small business I am also look at organizations that provide group rates to entrepreneurs and small businesses that can provide the coverage I think I’ll need for more competitive rates. I’ve been evaluating plans that have Health Savings Accounts attached to them as another alternative to offsetting higher premiums as well.

Along with just Google searches for major health insurance providers and requesting quotes I have also been using the Massachusetts Health Connector site as both a resource for information and even an aggregator to compare policies. I think it’s a great resource and it’s uncluttered with incentives or sales materials to try to get you into a specific policy. It is specific to Massachusetts residents so if you are out of state it might make sense to try to find a similar resource where you are.

This is about where I am now. I have an idea of what I’m looking to pay in premium and the upper limits of a deductible I am prepared to live with. My goal is to maximize the scope of the coverage for both care and prescriptions. I will hopefully have an update for you soon and as soon as I know what my next plan will be I want to release a more detailed comparison so that you can see the changes I made. Along with the recapturing and reallocating of the currently overpriced premiums I am paying right now.

If you have any tips about landing new health insurance I would love to hear about them! I am definitely open to any extra help I can get :)