In These Financial Times You Need Tight FISTAL Policy 12 Nov 2009 by Sean Teahan in Founders Blog

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A TIME TO SOW... A TIME TO REAP.

Like most things in life fiscal policy is all about balance - A time to sow and a time to reap. Problem is we've been doing far too much reaping in the last 10 years.

THE REIGN OF THE TIGHT ARTIST

Welcome to the era of the Tight Fist. They reign supreme. They've saved their money instead of spending for the last 10 years. They're the ones you see gleefully inspecting properties at the thought of getting a bargain while everyone else looks on in broke confusion.

THE CUNNING OR THE CAUTIOUS - WHAT 'MONEY PERSONALITY' ARE YOU?

No one seems to realise how innate our attitude to money is. Dealing with money did not just start in the 20th century. As soon as we humans started walking on two legs we started to trade. It wasn't money as we know it today - sometimes it was salt, sometimes valuable stones but the principals were the same. Even among those very firs... Read More »

What makes Cash Doctors different? 22 Jun 2009 by Sean Teahan in Founders Blog

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In answering this I don?t want to talk about our customer service.  Cash Doctors is obsessed with customer service ? we all know that.  

Instead I want to talk about business philosophies.  Thousands of books have been written on it.  So surely the perfect business management model is out there, right?   

Well if there was one perfect way, they wouldn?t have needed to write thousands of books on it would they?

Thing is, there is no one perfect way. The real world is too dynamic and variable.  

After all, things change.  The world changes. Your staff changes.  Your customers change. Your product changes.  Public perception of you  changes.  Your industry changes.  Technology changes. Global financial crises change everything....  

For us guys trying to grow a business this is scary.  I mean it?s terrifying.  You want to be able to produce perfectly accurate forecasts.  Beautiful rising graphs....not rising to... Read More »

Credit Cards - Do You Have The Self Discipline? 21 May 2009 by Sean Teahan in Getting Ahead Blog

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I had a bit of a shock a couple of days ago.

My girlfriend saw an unopened statement from my credit card when she was having a bit of a de-clutter and just put it on the side for me to see.

Now I paid my credit card off and cut it up in September last year from the proceeds of selling my house in the UK, so it was a surprise to see a statement. Surprise turned to horror when I saw a balance of $21,000 on it!

Now, fortunately, I then noticed the statement date was July last year. I (unsurprisingly) regularly check all my statements online and keep the unopened posted statements for the sake of good order. I quickly hopped online and checked that, yes, my account was dormant.

But it led me to think about credit cards and the credit card culture.

There was a huge furore in the UK in October 2003, when Matt Barrett, the Chief Executive of Britain?s largest credit card provider, Barclaycard, admitted steering clear of credit cards because they were ?too expensive? and that he actively ?advised his children against using them?.

You see, in principle, ... Read More »

New Payday Loan Laws Will Give Greater Comfort to Borrowers 06 May 2009 by Sean Teahan in Founders Blog

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Last week, the Minister for Superannuation and Corporate Law, Nick Sherry released a draft of the new legislation designed to increase responsible lending to Australian consumers.

What does it all actually mean for customers?

Well, firstly, lenders have to be licensed by ASIC and to get a licence, they need to observe ?responsible lending? guidelines. This should give you extra peace of mind, as only lenders who ARE doing a good job will be licensed, reducing the risk of the unknown. Unlicensed lenders will, by definition, be criminal - so avoid them!

Lenders will give you lots more information up front, allowing you make a truly informed decision and there'll be none of those hidden fees and charges. Also, if you're not happy with the loan, all loan companies will have to be a member of an External Dispute Resolution Scheme to help sort out any disagreements.

You'll need to provide lenders with slightly more information than you do now before getting a loan - including why you want the loan; any other credit you have; and if you a... Read More »