Business & Finance

Biz tips: Tis the Season… Are You Ready?

Updated 3 days ago

Tis the season… are you ready?
Prepare NOW for holiday shoppers!

Deb Neuman has some tips:

1. Review inventory and pricing
2. Update website – make it EASY
3. Develop SM strategy
4. Plan sales/promos
5. Prepare your crew (service is KEY!)

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Finance is Fun: Start Saving For Next Christmas Now

Updated 4 days ago

Marion Syverson was here for this week’s Finance is Fun, to talk about saving for next Christmas.

A little more than 8 weeks until Christmas 2014 and I’m suggesting you start saving NOW for Christmas 2015?! Am I crazy? No. I’m a planner.

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Consumer Contact: Work-at-Home Schemes

Updated 5 days ago

Most work-at-home schemes are just that: schemes. Russ Van Arsdale was in the studio Monday talking to Joy about how to avoid being taken by these ploys in this week’s Consumer Contact segment.

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Finance Is Fun: The 6 Stages of Retirement

Updated 2 weeks ago

Marion Syversen was in for Finance is Fun telling us about the 6 stages of retirement.

Retirement is a time that many plan for but like many seasons of life, we don’t know what awaits us until we get there. In your planning here are the six stages that might be part of your retirement years.

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Finance Is Fun: Tips for Tackling Debt Before The Holidays

Updated 3 weeks ago

Marion Syversen was on the Noon Show for this week’s Finance is Fun to give tips for tackling your debt before the holiday season begins.

There is no ideal time to get a grip on your finances, though there will be a wonderful freedom when it is tackled. It seems that there is always some need, some reason to keep going in the using credit direction. But if you are fed up, if you committed, NOW is a great time to turn a new leaf.

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Consumer Contact: Home Rental Scams

Updated 3 weeks ago

Russ Van Arsdale was in the studio Monday for this week’s Consumer Contact, speaking to Joy about choosing a rental property, and things to look for to make sure you aren’t being scammed.

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Biz Tips: Upcoming Business Workshops

Updated 3 weeks ago

Deb Neuman talks about some upcoming business workshops.

Eastern Maine Development Corporation

Series: Marketing Pathways for Business Success
Marketing tips to grow your business!
October 16 – 5:30 – 7:30
~Digital Marketing: Nov 13th
~Creating an Extraordinary Brand: Dec 11
~Pulling it all Together: Jan 14
emdc.org
Maine Centers for Women, Work & Community

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“Incubator Without Walls” Business Development Course

Updated 4 weeks ago

James Macomber from Maine Stream Finance, was in to talk about some new programs and classes that can help you if you are thinking about or just starting a new business.

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Biz Tips: Disaster Preparedness

Updated 1 month ago

Deb Neuman was here for Biz Tips talking about September being Disaster Preparedness Month and what that means for your business.

There are some helpful resources online that you can get information of how to be prepared for a disaster at ready.gov and maine.gov/mema/prepare

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Consumer Contact: Electricity Providers

Updated 1 month ago

Russ Van Arsdale was in the studio Monday for this week’s Consumer Contact, speaking to Joy about choosing the right electricity provider, and things to look for to make sure you are making the right decision.

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Finance is Fun: Teaching Teens About Money

Updated 1 month ago

Marion Syversen was in for this week’s Finance is Fun talking about teaching teens about money.

The Federal Reserve is an excellent source of free or low cost information for kids and adults. The information here is from a small portion of their material available through www.federalreserveeducation.org

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Finance is Fun: The Simple IRA

Updated 2 months ago

Marion Syversen was in for this week’s Finance is Fun to let us know what a Simple IRA is.
SIMPLE IRA – SIMPLE plan is an abbreviation for Savings Incentive Match Plan for Employees available to employers with less than one hundred and it may be a great way for your business to provide benefits to your people.
 
What is it? – A SIMPLE IRA is one of many IRA’s available. It’s specific purpose is as a less expensive option than 401(k)s and 403(b)s. The SIMPLE plan is comprised of a company agreement (a plan document) and then employee accounts that those eligible employees manage and control. SIMPLE plans can be opened through financial institutions, with an advisor, through mutual fund companies, etc. Should you choose to use an advisor that person assists with required forms and notifications.
 
Who can use it? –Any business with 100 or less employees. Employees must have earned at least $5,000 in compensation during any 2 years before  the calendar year and expect to receive at least $5,000 during the current calendar year. It’s not really complicated but there are conditions (as this is only a brief overview, please speak with a financial professional for guidance on your specific circumstances).
 
What’s it cost? – If you use mutual-fund direct plans with which I am familiar setting up the plan has no cost. Each participating employee has annual fees on the account, in my experience from $10 to $50. Then there are mutual fund costs. The only cost to the employer is the match. Remember the SIMPLE plan is an abbreviation for Savings Incentive Match Planfor Employees. The employer must choose annually to either match 2% on each eligible employee’s compensation- regardless if they contribute to the account OR employers may match the elective deferrals of those eligible employees dollar-for-dollar up to 3% of compensation.
 
What’s the benefit? – For example, ithe employer chooses the dollar-for-dollar match, foran eligible participating employee who makes $20,000 a year, the employer’s contribution is $600. Compared to the costs of other benefits you may find that a SIMPLE IRA is a very good value for your quality employees.
 
SIMPLE Plans can be open January 1st through October 1st  if you don’t have a plan and think this would be a good fit for your business, you need to act soon as the last quarter of the year is a blackout for opening a plan.
 
 
 
 
Citations:

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Finance Is Fun: Credit Reports

Updated 2 months ago

Marion Syversen was here for this week’s Finance is Fun to talk about credit reports, and what key things you should know about them.

Credit report - A credit report is a history of you and your money. It contains your name, address, work history and Social Security number. It also has a history of ‘public information’ such as bankruptcies, liens and ‘wage attachments.’ There are three agencies which publish credit reports and they sometimes differ in what is included in each one. They may have mistakes and errors. This is why reviewing credit reports is important.

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Biz Tips: Startup Bangor

Updated 2 months ago

Ever had an idea for a business and didn’t know how to bring it to reality?

Deb Neuman talks about StartUp weekend coming to Bangor where ideas will become reality!

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Finance is Fun: Your Money Personality

Updated 2 months ago

Marion Syversen was in for this week’s Finance is Fun explaining what someone’s money personality is.

Everyone has emotions that are usually bound up in their money. It tends to be a mix between what we learned as kids and our proclivities, our personality quirks and traits. No one is perfectly balanced so the goal is to be a sane as possible inside our unique composition.

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Consumer Contact: Gone Phishing

Updated 2 months ago

 

David Leach of the Maine Bureau of Consumer Credit Protection was in the studio with Russ Van Arsdale on Monday for this week’s Consumer Contact segment. They were speaking to Joy about a new anti-scam guide being released by the bureau. The guide is called “Gone Phishing” and it gives tips on avoiding all manner of scams and protecting your credit.

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Finance is Fun: Family and Money

Updated 2 months ago

Marion Syversen was on the Noon news for this week’s Finance is Fun with some tips about family and money.

Whether you are helping an adult child, or standing in the gap when someone you love has a sudden financial difficulty, lending money to family or friends can change things between you. Here are some ideas for ways to maneuver these tricky waters.

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Biz Tips: Back to “Business School”

Updated 2 months ago

Time flies and as another school year approaches Deb Neuman doesn’t want any more time to go by if you are thinking about starting or growing a business.

Here are a few classes and events you should know about.

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Finance is Fun: Estate Planning

Updated 2 months ago

Marion Syversen was in for this week’s Finance is Fun talking about estate planning.

Please plan - Making a plan for your family for how to pass on your earthly possessions after death is a pretty intense topic. People avoid it. If you won’t face things and make a plan you leave your grieving family to sort things out, to argue over sentimental items as it reminds them of you and time spent with you, to cause such discord that relationships may be permanently altered. All because you couldn’t face this task. You have spent your life loving you family. So I know I can count on you make thorough preparations for this most difficult time and not leave them without your loving guidance.

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Consumer Contact: Flooded Vehicle Resale

Updated 2 months ago

Russ Van Arsdale was in the studio on Monday for this week’s Consumer Contact. This time, he spoke to Joy about the precautionary measures you can take when looking at used cars, especially due to all of the recent flash flooding.

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