PLANNING INCOME AND EXPENSE
EVERY MONTH
By: Safir Senduk
EVERY MONTH
By: Safir Senduk
In my previous article, I said that there are several things to help your finance every month :
1. Plan your income and expense every month
2. Do the plan strictly
3. Have reserves fund
4. Take some insurances
This article will discuss point 1 and 2.
1. Plan your income and expense every month
Starting right now, plan when you will get your salary, how much its amount, and when you will spend your money, what the posts and how much the amount of expenses. The plan called Budget.
In example, you will receive this much on your salary on 27th, then from that amount you will use this much for this expense, that amount for that expense, and so on. So, if you make a budget first, you will detect on the first place whether there will be deficit or not in the middle of the month. If yes, you can revise the budget to avoid deficit.
Composing budget is very easy. If you have already known the amount of average income and expense every month, you could also predict how much income and expense for the next coming months.
Budget function
Many people feels uncomfortable to draw up and have budget. They think budget is the same with restrain their shopping desire.
NO. The function of a budget is to inform if your expense surpass your income or not. If yes, you ocan revise the budget so deficit can be avoided.
But, if you do not have budget, you will be difficult to know if your family expense has surpassed the income. So, if there is deficit at the end of the month, you just realize it at that time, after all has happened.
IMPORTANT
Include saving in your budget. Usually people save their money later, after their money was spent. So, sometimes they cannot save their money because all of their money was spent for shopping.
Thereby, it would be better if saving is not included later but earlier. Therefore, when you draw up a budget, insert saving as one of the posts that you must do earlier, at least after you repay your loan.
2. Do the plan strictly.
A plan is useless if it is not done. In here, plan of income and expense as much as Rp250,000, if you strictly obey and want to do according the budget, at the end of the month the discrepancy between income and expense of your family will be certainly figured out, namely Rp250,000.
Thereby, it would be easier to make another plan froward, because you have already known that every end of the month you surely have discrepancy of Rp250,000, which can be used for another purpose.
However, sometimes people, although have already made up a simple budget, is still unable to meet their budget. If he, i.e. allocated Rp500,000 per month for shopping, the figure could expand to Rp750,000.
This can be prevented with a harder system, namely 'envelope system'. If you have already drawn up a budget, you should allocate the amount right away according to each post. Each post is represented by one envelope. If the money in the envelope is empty, you don't have to try opening the other envelopes, because you have already known that budget for the related post has touched its limit. Envelope system is a little complicated, but perhaps it is the sacrifice that you should doso that you will not experience deficit. The most important, your expense now is more controllable.
Google's goals for its new Chrome Web browser are simple: Make the Web experience faster and, by extension, make more money for Google.
Google's Chrome browser is now officially available as a beta, offering the promise of increased speed, security and usability. During a conference call and Webcast with the press today from the Googleplex in Mountain View, Calif., Google trotted out a line-up of engineers to explain what is new for Web users and what Google hopes to gain with Chrome.
Sundar Pichai, Google's vice president of product management, said the name Chrome itself is indicative of the key value that Google is aiming to provide with the new browser. Chrome is the space where the user interacts with the browser in the traditional Netscape/Mozilla view of browsers. It's an area that Google is aiming to minimize for usability.
Chrome is kind of an ironic name for our product, Pichai said. Our view is that the browser is just a tool for people to interact with applications that they care about so browsers should not be self-important. We wanted to make sure that people were forgetting why they are using a browser.
To that end, Google has introduced something called the OmniBox which integrates the traditional browser address bar with a search box. Ben Goodger who had been the lead engineer on Mozilla's Firefox until January of 2005, explained people have been confused with have both a search box and an address bar. With the OmniBox searches can be conducted directly from the address bar.
Tabs which were a key innovation in Firefox have been innovated further on Google Chrome by putting them on top. Goodger noted that Google thinks of tabs like title bars for web pages and apps. By placing them on top they become more primary and usable. Instead of starting with a blank screen, the default new tab page will show the users most viewed pages and an search boxes for recently used search engines. Google Chrome does not discriminate against other search engines and will enable users to use whatever search engine they choose.
The Incognito window, which is Google Chrome's privacy mode, is also a key feature that Goodger explained was meant to keep stuff off a users computer so sites won't appear in history and cookies aren't saved.
Further improving the web application usage of browsers is a feature called App View which provides a stripped down browser window without navigation buttons. The feature is similar to Mozilla's Prism effort which offers the same approach but with the Firefox web browser.
On the speed side of things Google is employing two key technologies, one new and one borrowed. Apple's WebKit is the core rendering engine for Google's Chrome and according to Google engineers it is substantially faster that Microsoft's Internet Explorer. WebKit is also the same rendering engine used by Google's Android mobile effort as well as Apple's iPhone. Android will also be benefiting from Chrome's new V8 JavaScript engine which is intended to be faster than any other current JavaScript approach.
It's about making the browser faster, since substantially greater usage translates directly into revenues, Google co-founder Larry Page said. So I think there are very direct benefits. You only have 24 hours in the day and we'd like you to do more searches and if the browser runs faster we get more searches.
Page's partner, Google co-founder Sergey Brin, echoed the sentiment and noted that Chrome is consistent with Google broader efforts to improve internet access.
Our business does well if there is lots of internet usage and that's why we work hard on Internet access be it wired or wireless, Brin said. Basically our business does well if people are using the web and the Internet a lot and they are able to use it easily and quickly.
Google also claims that it is improving security as well since it uses a multi-process architecture that renders each tab independently. So if a user has a bad application running in one tab it won't crash or slow down the entire browser.
Google engineer (and former Mozilla staffer) Darren Fischer explained that Chrome also limits the amount of privileges that each tab gets providing a sandbox for applications. With the sandbox application only run in the tab with limited privileges.
Fischer explained that prior to Chrome for a bad guy to get onto your PC all an attacker had to do was to find a bug in the rendering engine.
With Google Chrome they have to find a bug and then find a bug in the sandbox to get out, Fischer said.
Whitehat security researcher Jeremiah Grossman told InternetNews.com that sandboxing is an excellent idea, long overdue by all browser vendors, as it separates the hosting Web from the operating system below.
Grossman does have a few security concerns though among them is the fact that in his view it still needs to be broadly tested.
That tends to be where software security breaks down a lot, Grossman said. I also wonder how many of the generic browser attack techniques such as history stealing, user login detection, and intranet hacking are in the product.
Security research firm Cenzic was also cautiously optimistic about Google Chrome's security posture.
With Chrome, Google has certainly made a concerted effort to keep security in mind and in some cases, it should have better security especially for anti-malware and anti-phishing types of issues, Cenzic Chief Marketing Officer Mandeep Khera told InternetNews.com. However the jury is still out on if it's doing anything for true Web application security issues like XSS and CSRF.
Google co-founder Larry Page however is confident that Google Chrome is a step in the right direction for Internet web browser security.
I do think this process model ,since each process is sandboxed, allows us to reduce the probability of holes and even if there is a hole it can be better contained, Page said. I do think this model provides inherently a much more secure browser. source:www.internetnews.com
It is very easy to get so caught up in the day to day running of our business that we neglect to take the time to look from the outside in to see what we could do to improve our profitability!
Well here are 5 Strategies that could boost your productivity overnight!
They are not rocket science…and you may have even heard some of them before, but they are 5 proven principles that you can review today to help you stay on track regarding the real issues to grow your business from here.
So why don’t you take 15 minutes…make yourself a coffee…and recharge your batteries!
1. Define your Unique Selling Proposition (USP) in one sentence
What is at the heart of your business that makes it unique and attractive for your customers? Summarise your key selling points that make your product or service a ‘must have’ for your clients.
You probably went through this exercise when you first started your business...but have you need to remind yourself regularly why you are doing what you are doing!
New competitors may have emerged and you don't have that same uniqueness that you once had.
Perhaps it's time to reinvent yourself and get that edge over the market once again!
2. Identify Who Your Target Market Is
When you first started your business, you knew exactly who your target market was. Is this market still the same, or have they grown up…or matured in their buying habits.
Has new technology overtaken your ideas?
Just imagine if Video Rental Stores had stubbornly refused to rent DVDs because they were just a Video Store! Your market may have changed, and you may need to reassess who you are trying to reach.
Your original target market have grown older since you began and if you are still promoting your products or service to this same group - their needs may be different!
3. Would you like Fries with That?
McDonalds have made an additional fortune by training every one of their sales force to ask one simple question with every order: ‘Would you like fries with that?’
I went to buy a tube to fix my daughter’s bike puncture the other day, and instead of just selling me a new tube, the smart salesman in the Bike Shop enquired quite genuinely if I had the right tools to fix it.
I didn't - but of course he did...so he cleverly added value to my shopping experience, and added extra profit to his bottom line.
What service or product can you offer to people to make their original purchase with you even more worthwhile?
4. Establish where your clients go before and after they visit you?
If you can determine this, then you can add instant profits to your business.
Just imagine if you owned a Real Estate business. Wouldn’t it make sense to have a Settlement Agent in house? And what about a Mortgage Broker? Or even a Removalist Company?
Perhaps you could rent out a large Furniture Trailer with your company name emblazoned all over it!
Ask yourself the same question and you can start incorporating other services that complement your existing business and watch the profits grow!
5. Ask your existing customers for referrals
If you are providing an excellent product or service, then your biggest fans will be your existing customers.
Why not offer them an incentive to put you in touch with people just like them who would also benefit from your services?
It doesn’t have to be anything really expensive…maybe even just a 10% discount off their next purchase from you.
I referred some friends to a Mortgage Broker a few months ago…and had forgotten all about it…until last week I received 2 movie tickets in the mail thanking me for the gesture.
A $20 investment leaves a nice impression in my mind that will probably make me think of him again when my next friend asks me if I know of a good Mortgage Broker!
Make sure you get Part Two of this article for another 5 Strategies to improve your small business success!
1. Plan your income and expense every month
2. Do the plan strictly
3. Have reserves fund
4. Take some insurances
This article will discuss point 1 and 2.
1. Plan your income and expense every month
Starting right now, plan when you will get your salary, how much its amount, and when you will spend your money, what the posts and how much the amount of expenses. The plan called Budget.
In example, you will receive this much on your salary on 27th, then from that amount you will use this much for this expense, that amount for that expense, and so on. So, if you make a budget first, you will detect on the first place whether there will be deficit or not in the middle of the month. If yes, you can revise the budget to avoid deficit.
Composing budget is very easy. If you have already known the amount of average income and expense every month, you could also predict how much income and expense for the next coming months.
Budget function
Many people feels uncomfortable to draw up and have budget. They think budget is the same with restrain their shopping desire.
NO. The function of a budget is to inform if your expense surpass your income or not. If yes, you ocan revise the budget so deficit can be avoided.
But, if you do not have budget, you will be difficult to know if your family expense has surpassed the income. So, if there is deficit at the end of the month, you just realize it at that time, after all has happened.
IMPORTANT
Include saving in your budget. Usually people save their money later, after their money was spent. So, sometimes they cannot save their money because all of their money was spent for shopping.
Thereby, it would be better if saving is not included later but earlier. Therefore, when you draw up a budget, insert saving as one of the posts that you must do earlier, at least after you repay your loan.
2. Do the plan strictly.
A plan is useless if it is not done. In here, plan of income and expense as much as Rp250,000, if you strictly obey and want to do according the budget, at the end of the month the discrepancy between income and expense of your family will be certainly figured out, namely Rp250,000.
Thereby, it would be easier to make another plan froward, because you have already known that every end of the month you surely have discrepancy of Rp250,000, which can be used for another purpose.
However, sometimes people, although have already made up a simple budget, is still unable to meet their budget. If he, i.e. allocated Rp500,000 per month for shopping, the figure could expand to Rp750,000.
This can be prevented with a harder system, namely 'envelope system'. If you have already drawn up a budget, you should allocate the amount right away according to each post. Each post is represented by one envelope. If the money in the envelope is empty, you don't have to try opening the other envelopes, because you have already known that budget for the related post has touched its limit. Envelope system is a little complicated, but perhaps it is the sacrifice that you should doso that you will not experience deficit. The most important, your expense now is more controllable.
Google: Chrome Browser Will Make Money
Google's goals for its new Chrome Web browser are simple: Make the Web experience faster and, by extension, make more money for Google.
Google's Chrome browser is now officially available as a beta, offering the promise of increased speed, security and usability. During a conference call and Webcast with the press today from the Googleplex in Mountain View, Calif., Google trotted out a line-up of engineers to explain what is new for Web users and what Google hopes to gain with Chrome.
Sundar Pichai, Google's vice president of product management, said the name Chrome itself is indicative of the key value that Google is aiming to provide with the new browser. Chrome is the space where the user interacts with the browser in the traditional Netscape/Mozilla view of browsers. It's an area that Google is aiming to minimize for usability.
Chrome is kind of an ironic name for our product, Pichai said. Our view is that the browser is just a tool for people to interact with applications that they care about so browsers should not be self-important. We wanted to make sure that people were forgetting why they are using a browser.
To that end, Google has introduced something called the OmniBox which integrates the traditional browser address bar with a search box. Ben Goodger who had been the lead engineer on Mozilla's Firefox until January of 2005, explained people have been confused with have both a search box and an address bar. With the OmniBox searches can be conducted directly from the address bar.
Tabs which were a key innovation in Firefox have been innovated further on Google Chrome by putting them on top. Goodger noted that Google thinks of tabs like title bars for web pages and apps. By placing them on top they become more primary and usable. Instead of starting with a blank screen, the default new tab page will show the users most viewed pages and an search boxes for recently used search engines. Google Chrome does not discriminate against other search engines and will enable users to use whatever search engine they choose.
The Incognito window, which is Google Chrome's privacy mode, is also a key feature that Goodger explained was meant to keep stuff off a users computer so sites won't appear in history and cookies aren't saved.
Further improving the web application usage of browsers is a feature called App View which provides a stripped down browser window without navigation buttons. The feature is similar to Mozilla's Prism effort which offers the same approach but with the Firefox web browser.
On the speed side of things Google is employing two key technologies, one new and one borrowed. Apple's WebKit is the core rendering engine for Google's Chrome and according to Google engineers it is substantially faster that Microsoft's Internet Explorer. WebKit is also the same rendering engine used by Google's Android mobile effort as well as Apple's iPhone. Android will also be benefiting from Chrome's new V8 JavaScript engine which is intended to be faster than any other current JavaScript approach.
It's about making the browser faster, since substantially greater usage translates directly into revenues, Google co-founder Larry Page said. So I think there are very direct benefits. You only have 24 hours in the day and we'd like you to do more searches and if the browser runs faster we get more searches.
Page's partner, Google co-founder Sergey Brin, echoed the sentiment and noted that Chrome is consistent with Google broader efforts to improve internet access.
Our business does well if there is lots of internet usage and that's why we work hard on Internet access be it wired or wireless, Brin said. Basically our business does well if people are using the web and the Internet a lot and they are able to use it easily and quickly.
Google also claims that it is improving security as well since it uses a multi-process architecture that renders each tab independently. So if a user has a bad application running in one tab it won't crash or slow down the entire browser.
Google engineer (and former Mozilla staffer) Darren Fischer explained that Chrome also limits the amount of privileges that each tab gets providing a sandbox for applications. With the sandbox application only run in the tab with limited privileges.
Fischer explained that prior to Chrome for a bad guy to get onto your PC all an attacker had to do was to find a bug in the rendering engine.
With Google Chrome they have to find a bug and then find a bug in the sandbox to get out, Fischer said.
Whitehat security researcher Jeremiah Grossman told InternetNews.com that sandboxing is an excellent idea, long overdue by all browser vendors, as it separates the hosting Web from the operating system below.
Grossman does have a few security concerns though among them is the fact that in his view it still needs to be broadly tested.
That tends to be where software security breaks down a lot, Grossman said. I also wonder how many of the generic browser attack techniques such as history stealing, user login detection, and intranet hacking are in the product.
Security research firm Cenzic was also cautiously optimistic about Google Chrome's security posture.
With Chrome, Google has certainly made a concerted effort to keep security in mind and in some cases, it should have better security especially for anti-malware and anti-phishing types of issues, Cenzic Chief Marketing Officer Mandeep Khera told InternetNews.com. However the jury is still out on if it's doing anything for true Web application security issues like XSS and CSRF.
Google co-founder Larry Page however is confident that Google Chrome is a step in the right direction for Internet web browser security.
I do think this process model ,since each process is sandboxed, allows us to reduce the probability of holes and even if there is a hole it can be better contained, Page said. I do think this model provides inherently a much more secure browser. source:www.internetnews.com
5 Strategies That Will Boost Your Business Productivity Today!
It is very easy to get so caught up in the day to day running of our business that we neglect to take the time to look from the outside in to see what we could do to improve our profitability!
Well here are 5 Strategies that could boost your productivity overnight!
They are not rocket science…and you may have even heard some of them before, but they are 5 proven principles that you can review today to help you stay on track regarding the real issues to grow your business from here.
So why don’t you take 15 minutes…make yourself a coffee…and recharge your batteries!
1. Define your Unique Selling Proposition (USP) in one sentence
What is at the heart of your business that makes it unique and attractive for your customers? Summarise your key selling points that make your product or service a ‘must have’ for your clients.
You probably went through this exercise when you first started your business...but have you need to remind yourself regularly why you are doing what you are doing!
New competitors may have emerged and you don't have that same uniqueness that you once had.
Perhaps it's time to reinvent yourself and get that edge over the market once again!
2. Identify Who Your Target Market Is
When you first started your business, you knew exactly who your target market was. Is this market still the same, or have they grown up…or matured in their buying habits.
Has new technology overtaken your ideas?
Just imagine if Video Rental Stores had stubbornly refused to rent DVDs because they were just a Video Store! Your market may have changed, and you may need to reassess who you are trying to reach.
Your original target market have grown older since you began and if you are still promoting your products or service to this same group - their needs may be different!
3. Would you like Fries with That?
McDonalds have made an additional fortune by training every one of their sales force to ask one simple question with every order: ‘Would you like fries with that?’
I went to buy a tube to fix my daughter’s bike puncture the other day, and instead of just selling me a new tube, the smart salesman in the Bike Shop enquired quite genuinely if I had the right tools to fix it.
I didn't - but of course he did...so he cleverly added value to my shopping experience, and added extra profit to his bottom line.
What service or product can you offer to people to make their original purchase with you even more worthwhile?
4. Establish where your clients go before and after they visit you?
If you can determine this, then you can add instant profits to your business.
Just imagine if you owned a Real Estate business. Wouldn’t it make sense to have a Settlement Agent in house? And what about a Mortgage Broker? Or even a Removalist Company?
Perhaps you could rent out a large Furniture Trailer with your company name emblazoned all over it!
Ask yourself the same question and you can start incorporating other services that complement your existing business and watch the profits grow!
5. Ask your existing customers for referrals
If you are providing an excellent product or service, then your biggest fans will be your existing customers.
Why not offer them an incentive to put you in touch with people just like them who would also benefit from your services?
It doesn’t have to be anything really expensive…maybe even just a 10% discount off their next purchase from you.
I referred some friends to a Mortgage Broker a few months ago…and had forgotten all about it…until last week I received 2 movie tickets in the mail thanking me for the gesture.
A $20 investment leaves a nice impression in my mind that will probably make me think of him again when my next friend asks me if I know of a good Mortgage Broker!
Make sure you get Part Two of this article for another 5 Strategies to improve your small business success!
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