Statistics tell us that about 80 percent of small businesses will go out of business the first year they’re in business. And of those that remain, 80 percent of them will not be in business 5 years from now. With figures like that, it’s easy to see that the failure rate of new businesses is staggering.

Make no mistake… those are alarming statistics!

Yet, even with those incredible numbers, people still quit secure and well-paying jobs or careers, hock everything they have, and take their dreams into the marketplace with little or no planning, and with little or no regard for the harshness and cruelty of what the marketplace can bring without proper planning.

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Most people have heard the cliché, ‘silence is golden.’ If that’s true, how can silence lead to gold, when negotiating?

A business associate told me of a situation she encountered, when suggesting a price for a service provided by her company. Once she gave her prospective customer the price, the prospect didn’t say a word, nothing, nada, for several moments. My associate, feeling uncomfortable, started giving extra services, on top of what had already been offered, to get her prospect back into the mind set of considering her company to do business with. After more time passed, finally the prospect said OK to the offer.

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Property prices invariably escalate with time and this is the prime reason for the concept of home mortgage and second mortgage. In comparison with stocks and shares - and other money investments - property is a much more stabler form of placing your money at a premium. This statement would be very true if you had this kind of money and took the decision to invest it all in properties. Very few are honored with such a gift and the majority of people all around the world resort to borrowing of funds to finance their homes and other property.

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The best way to prevent going into debt is by not going into debt in the first place. Like it is always said, prevention is the best cure. It works both in the health sector as well as the financial one. In order to keep from getting sick, it is best to live your life so you do not get sick in the first place. In your financial world, if you live your life responsibly and within your means, you can enjoy the peace of mind that goes along with it.

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At some point in time you have probably been forced to take out a loan or use a credit card for an unexpected event. Most people have a loan or some form of credit that they have to account for each month, it is important to keep these payments up to date to avoid late charges that may cause you to slip further into debt.

It is wise to look at your finances on a regular basis in order to budget what is coming out and determine if you have sufficient funds to cover these outgoings.

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