Monthly Archives: August 2008

Speed dating franchise opportunities

There are always some success stories when people involve in the business of franchising. There is this romantic story about Phil Seth and Nikki Hance who share their franchise success story. They were in love for sometime and suddenly their love took a twist and they had to get married to someone else. After a few years when they were in their forties, they suddenly met each other and suddenly found they were single again after many years of marriage and with 6 children between them. They soon realized this fact that meeting compatible people was not as simple at it was when they were younger. Now they discovered something new and that’s speed dating.

Phil 46 and Nikki 42, met through national dating company when the music stops 2 years ago at a speed dating event and have been in love ever since then. Love is still in the air for the people over 40’s. But it’s a love story with a twist as Nikki and Phil recently came back to when the music stops to buy the Hertfordshire/Buckinghamshire franchise.

According to Phil, such kind of Franchise Opportunities bring people together after a long time when they will never meet either because of geographical differences, domestic issues or a lack of a opportunity. He never believed that speed dating can find a soul mate. They are also a great way of getting out, having some fun and meeting new people. Speed dating has definitely worked for Phil because he was able to find his partner Nikki.

Nikki said that she has other friends in similar situations like hers and they find it so hard to get time for them after taking care of the family and children. If they are able to go out and meet some new people, it is often difficult to find the right person. Nikki went to the speed dating events with a friend and it was quite nerve wracking for her. She had a lot of fun and now she found her love Phil through speed dating.

The potential of UK franchise opportunities, especially speed dating is so great that Niki and Phil decided to open a dating franchise of their own. They started sending invitations to people and organizing dinner parties, singles party nights, walks and other organized events especially for the singles and the couples. They also offered elite personal introductions services for those looking for a more personalized service and online dating.

Niki and Phil are excited about being able to bring people together in this busy life. They were able to make people meet in the same way as they met before. Dating events have really worked well for Nikki and Phil and now they would like to help others meet their potential future partners.

Out of all the UK Franchise Opportunities, Nikki and Phil researched this market very carefully and realized it was growing at a steady rate as marriages and long term partnerships were breaking too fast. Looking at the Franchise Opportunities, finding venues is relatively easy and a good event can generate hundreds of pounds a night in profits.

Save your money on balance transfer

Credit card industry shows a boom period between November through February. This is the time when almost every credit card company will give variety of offers to attract large number of consumers. They will do endless marketing to target the new customers, besides trying to keep their existing customers on the roll.

The balance transfer option seems to be on the high during this period. You can easily get a check that offers 0% interest. If this is not available, you always have the option to transfer your balance at a decent interest rate between 3.99% to 6% and no balance transfer fees incurred. You may get a good deal from the various options depending upon what you have decided to do.

Let’s show an example to explain how this balance transfer sounds to be beneficial. If you were to use a balance transfer check with 3.99% interest and a fee of 3% of your total amount to pay off a credit card or loan with 11% interest rate, you are always going to save more money if the borrowed amount is higher. With the lower interest rate on the balance transfer, your monthly payments will mostly go towards the principal amount since the interest rate is much lower than the previous loan at highest interest rate. Make sure that you don’t default on your payments otherwise you will end up falling into the same situation you were in.

Balance transfer checks can be easily available to the consumers at low or no interest rates. Once you have got the balance transfer check deposited into your checking account, you can easily pay all your other debts that are costing you more money just in highest interest rates.

Sometimes, these balance transfer checks seem to be more helpful for people who are able to take care of their existing debts and use the amount of money saved towards other investment or plan a major purchase.

Other good deals that you can get from the low or no interest balance transfer check is the buy now, pay later holiday package. Who does not love to go out for a vacation?? Deposit the balance transfer check into your checking account and you can easily use that money to finance your holiday package. If you are getting a zero percent interest rate, then you cannot ask for anything better, otherwise you would have done the same purchase by your credit card at higher interest rate. By putting the balance transfer check into your checking account, you are not only saving your money on interests, but you get additional time to pay back. This means that you are not putting too much strain on your wallet.

Another good use of a balance transfer check is to utilize the money towards home improvement. Deposit the balance transfer check into your checking account and then use the money to renovate or repair your home.

Just keep in mind that the balance transfer scheme will work perfectly in your case if you are making the monthly payments on time. The moment you default in your payments, you won’t be able to avail the 0 % or low interest rate on the balance transfer. You not only lose this good opportunity but your repayments will add up with highest interest rates and fees.

Avoid some common debt reduction mistakes

Try to stick to the following plan if you are trying to get out of debt and at the same time stay away from it.

It is important that you should not deal with all kinds of debts at the same time. Focus on those debts that need immediate attention while rest of the debts can wait for some time. Once you know which debt needs the immediate attention, put all your energy and extra income towards it and paying off that particular item. The advantage of concentrating on one particular debt will reap the psychological rewards and you will see progress.

Do not cancel your credit cards if it has some balance on it. Try to pay off the outstanding balance in full before you go ahead and cancel it. In case, if you close the account before paying the full balance, they will not see you as their existing customer and hence, can forward your account to some outside collection agencies. You might fall under adverse circumstances.

While you are formulating your debt reduction plan, it is important that you don’t build in unrealistic expectations. Create a realistic plan. If you have been used to a strict budgeting, you will have to give some time to change your behaviors, attitudes and habits and see results.

Don’t put your hands on to your emergency funds to take care of other things. You might have kept that fund separate for some other unexpected situation. If you use those funds towards repaying your debts, you will have nothing left in case any unavoidable emergency arises.

It is not good to discuss your plans of action with everyone. You will always hear from different people having different opinions. Even if you discuss with some close people, make sure that you are careful about whom to listen. You are the one person who can best understand your situation. In my case, I tried to follow Dave Ramsey’s snowball method and started paying the smallest debts first to the largest balance. There are people who pay off those debts first that have the highest interest rates. And there are still a few who use a combination of these two methods. Whichever plan you adopt, be faithful to yourself and understand your plan of actions. Don’t mess up things by making rash decisions.

Don’t give your checking / saving account access to the credit card companies. While most companies are reputed, but you might find a company making unauthorized debits from your account and doing illegal business. It is better to be safe and make online payments provided by your bank or write a paper check.

Do not use a second mortgage to consolidate automobile or credit card debt. If you are considering to sign up with any debt reduction company, make sure that you have gone through the fine prints and understood it thoroughly. I have seen so many people who shift their debts from credit card to mortgage, but because of their reckless spending habits, they end up with mortgage debt and additional credit card debts. And you definitely do not want to risk your home just because of some unsecured credit card debts.

Don’t make any major purchases while you are trying to be debt free. You can reward yourself happily when you are completely debt free. It does not make sense that you have paid off two different accounts and now you are looking to buy a television set that could have waited for some more time. Reward yourself when you are completely debt free.

Don’t fall into arguments with your family members. They are the ones who will stay with you for the rest of your life. Monetary problems are temporary and you don’t want to ruin your personal relations just because of some financial problems.

I have been in debts and I have given my best while I was on my way of coming out of it. These were some of the important things I kept in mind. I thought it will be a good idea to bring these points in front of you so that you can also share it with others.