Cash flow management is a key component in business operations, and should involve more than just a focus on the lag between the time you have to pay your suppliers and employees and the time you collect from your customers. A good strategic plan involves: 1) good relationships with lenders; 2) maintaining good vendor relations; and 3) communicating payment term expectations with customers up front.
Teenagers and twenty-somethings may not realize it, but every time you enter a new phase of your life as young adults — such as starting college — you’re also venturing into a new world of money management. Here are ways to be prepared.
As a young adult, you start taking more responsibility for handling money and choosing how you want to save or use it. But how much do you really know about managing your finances. This simple quiz from the FDIC will test your knowledge on basic financial matters.
Do you want to find ways to stretch your money, so it goes farther and is there when you really need it? Here are some suggestions from STAR Bank and the FDIC for knowing how much money you have, how much you need for expenditures, and how to reach your goals by cutting back on what you spend.
As a teen, you’re beginning to make some grown-up decisions about how to save and spend your money. That’s why learning the right ways to manage money…right from the start…is important. Here are some suggestions, from STAR Bank and the FDIC, to get you started making smart financial decisions early that will make a big impact over adulthood.
If they are old enough to ride a bike, they are old enough to start learning financial lessons that will last a lifetime.
The best financial lessons are part of everyday experience. Look for opportunities to talk about money, read books aloud and play games that center around spending money wisely. Be open and honest when you discuss your financial experiences—good or bad.
STAR Bank is proud to partner with Junior Achievement of Northern Indiana and the American Bankers Association in taking an active role to help teach children how to establish and maintain healthy financial habits.
Benjamin Franklin’s famous quote “Nothing ventured, nothing gained” has been the mantra of many great leaders, touting the importance of taking risks in order to advance in life. Certainly, there is a level of risk involved in running a business or investing in real estate, but fortunately there are risk mitigating tools at our disposal. One of these resources is property and casualty insurance.
In 1789, Benjamin Franklin once wrote in a letter to Jean-Baptiste Leroy, and later re-printed in The Works of Benjamin Franklin in 1817, “In this world nothing can be said to be certain, except death and taxes”. Even though we would be hard-pressed to find truer words spoken, many people fail to financially prepare for the inevitable.