Month: November 2011

Get creative with fruit and vegetables

Are you interested in a way for the children and grandchildren to earn pocket money and for you to save on your fruit and vegetable bill? One enterprising parent persuaded his children to develop a vegetable garden and to swap surplus produce with others in the neighbourhood.  The family worked out how much they paid each month, on average, for their fruit and vegetables. They told the children that 50% of the cost saving would be given to them as extra pocket money. The result? Within six months the children were receiving an additional $35 per month and within 12 months they were receiving, on average, an additional $50 per

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Save those coins

Often we can greatly assist our financial goals by saving those seemingly insignificant $1 and $2 coins.  A financial planner recently conducted a survey using his five-member family as a ‘test case’. He found that many of the odd $1 and $2 coins he placed in the car seat console, in the ashtray, on the fridge or his desk were often “borrowed” by the kids and never returned.  Over a month this amounted to $21, together with $8 in silver coins. The planner recommends purchasing a piggy bank to make sure your coins do accumulate and don’t get “borrowed”.  You could be amazed at what it amounts to over 12

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Insurance can be a wonderful investment

Every year I moan about the cost of my insurance.  However, the other day I was driving to the funeral of a long-time friend.  He was only 46 and had left behind his wife and two children.  Fortunately, he was well insured and left his family with a sum approaching $1m.  This will never be enough to compensate for the loss of a husband and father, but I could not help but think about what a wonderful investment it had been.  After the funeral, curiosity got the better of me so I worked out that he had invested via life insurance premiums about $22,000 and got back $1m – that’s

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Buy/Sell Agreement

A buy/sell agreement runs alongside a partnership/shareholders agreement.

It is put in place to protect the partners and shareholders of a business and states that should a partner or shareholder leave the business for any reason the remaining partners/shareholders must buy the exiting partner’s shares for the rightful market value.

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Buy/Sell Agreement

A Key Person can be an owner, a shareholder, or an employee.

This means that a Key Person can be any one person, that should they be unable to work, would result in a decline in profit and/or value of the business.

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