Donald Turner

Should You Consider Work Abroad

January 2, 2013 by Donald Turner

It is no secret that the economy in the United States has been lagging quite a bit over the past few years. Job growth, though better than it was in much of 2008 and 2009, is still very anemic. Many people who had six-figure incomes before the latest recession are still struggling to get back on their feet. Those who struggled before the economic downturn are especially vulnerable. What can be done in such a sluggish economy to get ahead? While many people would not consider it an option, working abroad may be just what a person or family needs to get ahead.

The United States Department of State estimates that about 6.3 million American citizens are currently living and working in other countries around the world. The majority of these people live in developed regions like Canada and the Western European nations, but the number of Americans moving to Asia has increased greatly in recent years. And over 160 countries have Americans living among the locals.

Benefits of Working Abroad

One of the major benefits of living abroad is the international experience that ex-pats can bring to an organization. Recent studies have shown that those with international experience are better at solving problems and thinking outside of the box. These attributes are highly sought in many corporate structures. Those who live abroad can also become better managers because of their expanded understanding of how the world works. Expats can cater to those who live in other countries and expand business opportunities within an organization. Promotions are more likely for those who have international experience and show an aptitude for creativity.

Cultural Experiences

Another major benefit of living abroad is the cultural experience that it can provide for individuals or families. Rather than taking a weekend trip to the Fayette County Historical Society, an ex-pat can take his or her children on an excursion to the Louvre. Children who live abroad are more likely to learn about their adopted culture and become useful for global companies in the future. The benefit of working abroad can cross generations in this way.

Learning a New Language

The world is getting smaller because of the internet and the ease of travel. Many organizations have a high demand for [Read more…] about Should You Consider Work Abroad

Your Credit Score During Unemployment

November 19, 2012 by Donald Turner

Your credit score

is one of the most important factors that lenders look at when deciding whether or not they will extend credit to you. Therefore, it is important that you try to maintain a credit score that is as high as possible. But with unemployment remaining at all-time highs around the nation, many are worried about what will happen to their credit score if they lose their job. But there are ways to maintain your current credit score and even improve it while you’re looking for a job.

Losing Your Job Doesn’t Affect Your Credit Score

There are a few different factors that affect your credit score: your payment history, amounts owed, length of credit history, and type of credit used. While creditors may consider your current income or employment history in their credit granting process, being unemployed will not, in itself lower your credit score. This is because your income level or current occupation doesn’t come into play when credit bureaus calculate your score. Rather, it is what you do with your credit, whether you are working or not, that will be important.

Making Your Payments on Time is Important

Being late on your payments will be reported on your credit file and therefore cause your score to go down. As such, you should strive to continue to make your monthly payments on time even if you lose your job. And this is precisely why you need an emergency fund of 3 to 6 months expenses. This way you can continue to make your payments while you look for a job. If you find that your current income doesn’t allow you to make all of your payments, contact your creditors to try and work out a solution. In some cases, they will agree to modify your monthly payments, reduce your interest rate, or even allow you to make your payment later than the regular due date.

One thing to avoid above all is having accounts canceled for non-payment and sent to collections. Even if you do pay off the bad debt after it’s been sent to a collections agency, the derogatory information will remain on your file for seven years.

Avoid Using too Much of Your Credit

When you’re unemployed, it may be tempting to use credit cards to make more of your purchases, thinking that you will be able to pay off the debt later on when you start working again. Even if this is true, this can have a negative effect on your credit score.

One of the factors involved [Read more…] about Your Credit Score During Unemployment

10 Things You Need to Know Before Starting a Home Business

October 23, 2012 by Donald Turner

Starting a home business can seem like a great idea. It’s your chance to ditch those painful 9 to 5 working hours and to do something that you’re passionate about. Without the proper planning and preparation, however, your home business can easily turn into a money-sucking disaster of a project. So, roll up your sleeves and do your research before making the big leap. To get you started, we’ve provided this helpful list of ten things to know before you start your home business venture.

Ten Things to Know Before You Start Your Home Business

1. What You’ll Be Peddling

Unless what you’re offering falls under the category of products or services, you don’t have a true home business. So really think about what you will be offering with your business. Products are tangible things that a person is able to physically possess for a fee. Services are intangible like babysitting, dog walking, or lawn care, and maintenance. By knowing what category you fall under, you’ll get your business off to the right start, be able to define it more clearly, pinpoint a client base, and market to the right people!

2. Start-Up Costs

Most home businesses actually lose money in their first year. Sure, you might be one of the lucky few who turns a profit, but that’s not very likely. Be prepared to do some spending as you get started, and know where those start-up costs are going to come from ahead of time. You will likely need some kind of financing to get things off the ground unless you’ve got savings you can dip into. You’ll probably have to pay for things like office supplies, website design, marketing, and more. [Read more…] about 10 Things You Need to Know Before Starting a Home Business