Newspapers / The Charlotte Post (Charlotte, … / Feb. 6, 1997, edition 1 / Page 8
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8A STRICTLY BUSINESS/The Charlotte Post Thursday, February 6,1997 Take advantage of automatic investment By Omar Dillard SPECIAL TO THE POST We live in an automated world. Computers, electronic transfers, online shopping — you name it, and you can probably press a button to get it. Automation can simplify life, leaving more time for fun. Mutual funds have offered automated services for a long time. Unfortunately, many investors have become so com fortable with the old way that they unknowingly overlook newer, easier ways of doing things. Other investors may not even know that these services exist. Many of these services are free, even from load funds. For example, did you know that most mutual funds will automatically invest for you? That’s paying yourself first and taking advantage of doUar-cost - averaging all at the same time. It’s generally as easy as request ing that the fund automatically withdraw a specified amount from your bank account each month and invest it in the fund of your choice. Payroll deduction is another easy way to invest regularly. You can have money automati cally deducted from your pay- check and electronically trans ferred to your mutual fund. If you receive a monthly Social Security check or another regu lar payment from the federal government, you can have a por tion of that income automatical ly invested in ymm mutual fund. This service is called the Direct Deposit (Government AUobnent) Program. One of the best automatic ser vices for mutual funds is divi dend reinvestment. Having divi dends automatically reinvested in your mutual fund lets you take advantage of one of the best deals in investing, the magic of compounding. These are all ways to automat ically put money into your mutu al fund; you also can withdraw it automatically. Tell your mutual fund how much you want and when you want it. On the speci fied day each month, the fund will withdraw the specified amount and mail you a check. Salon is a real hair-raising enterprise Continued from page 8A are certain incentives for new businesses.” Salon Central has 42 suites, fully stocked with sinks, chairs and other basics for the profes sionals, who must supply their own tools. They pay Jones rent for the space and utilities. Since opening Dec. 16, Salon Central has filled 90 percent of its space, Jones said. “I first saw it in Tulsa, Okla., when I went out to visit. I saw something that looked like it and when I inquired I found another version in Amarillo, Texas, and another in Dallas, Texas,” he said. “I flew out to see both of those. I saw it work ing full bloom out there. There are 13 in the Dallas Metroplex area. They were all filled. I decided it was something I’d like to do, came back and decid ed to do it.” Jones has never been in the beauty culture business. “I am an entrepreneur,” said Jones, retired after 30 years with the state of Michigan. Tve done the restaurant business. “Now Tm doing the beauty busi ness. “The concept caught my inter est as much as the business area. I am just an entrepreneur. When I see an idea that catches my attention, I take a good look at it.” Jones said the salon concept is popular because the suite rentals are reasonable, as much as 30 percent below market rates. Also, he said. Salon Central’s upscale appearance is superior. “It is done up real nice,” Jones said. “Customers like it and stylists like it.” Suites can be from 120 to 500 square feet and each space is fully equipped. “We have all the big equipment...dryers, chairs, sinks,” Jones said. “For one Relieve debt quickly Continued from page 8A debt reduction strategy. A good option is to talk to nonprofit pro fessionals. One such company is the Consumer Credit Counseling Service. It offers financial help fi:ee or low-cost at over 1100 offices nationwide. 'The CCCS negotiates directly with your creditors to devise a debt-payment plan that satisfies everyone, using leverage built upon a longstanding relation ship with the credit industry. Instead of paying each creditor, you pay CCCS and they distrib ute the payments. Find CCCS and similar organizations in the your local phone book listed under Credit and Debt Counseling Services. Avoid bad advice Be aware that there are some bad options for credit counseling. These include so-called credit doctors and repair clinics that offer to clean up your credit report. 'They only do what you can do yourself, and they charge you up to a thousand dollars for their services. A better idea is to get copies of your credit reports from the credit reporting compa nies, Equifax, TRW and 'TransUnion. Late- or missed-payment records stay on your report for as long as seven years. But, you are entitled to add a statement to your report indicating why you ran into trouble. WAKE FOREST UNIVERSITY Babcock Graduate School o/Management CHARLOTTE MBA PROGRAM w ake Forest University offers a new evening MBA program in Charlotte designed for experienced managers. Join us for an Information Session Monday, February 10 • 5:30 - 7:30p.m. (Formal remarks beging at 6:00p.m.) Monday, February 26 • 7:30 - 9:00 a.m. (Formal remarks beging at 7:45 a.m.) One Morrocroft Centre, 6805 Morrison Blvd., Suite 150 Information on our weekend executive program in Winston-Salem will also be available. For more information about Wake Forest’s MBA programs, call (704)365-1717 or contact us at http://unvw. mba. wfa. edu. weekly amount they are ready to do business. They don’t have the normal problem business persons have. They don’t have to worry about a breakdown of facilities or utilities. They just do their work.” It is win-win situation, said Jones, who at 62 was looking for something less taxing than supervising 109 employees at three restaurants. “This business is less labor- intensive,” Jones said. “There are not as many employees. When people own their own business, they take care of their own stuff. My son is my only employee.” Raymond Jones has a finance degree from the University of Michigan. Another son is pastor of Love Works Bible Church at Monroe and Sharon Amity roads. A daughter works for EDS in Michigan. Jones said the key to success in business is perseverance. “You have got to stick to it. If you see an idea and have seen it work one place and you know in your heart you can make it work, then make it work,” he said. “You are going to encounter problems along the way, but you have got to fight through those problems. You have got to believe. Don’t accept “no’ for an 2mswer. Sometimes it’s neces sary to go to five or six banks or get financiers firom other areas of the business community. A lot of things will discourage you, but if you are committed and are willing to acquire necessary knowledge, it can be successful. It takes a lot of research and long hours.” Jones’ idea is so successful, he already planning an expansion. “We are hoping to start our next one in next 60 days,” Jones said. “This one looks like its going to fill up in the first 45 days that we are open. Once we get this one to flowing real good and work out the kinks, we’ll move on to the next one.” The best real estate agents in the area just got better Our superb team of real estate professionals is proud to serve our neighbors. And we’re proud to join the REALTY WORLD© System. Now we belong to one of the largest teal estate organi zations in North America, with thousands of profes sionals working across the U.S. and Canada. We’d like to tell you more about our 40 new programs and services to help home buyers and sellers. Our new REALTY WORLD© team can make all the difference in the world. Call us today. The rigbl agenf makes al! the di^rence intbeivorid.* REALTY world- realty WORLD Lee & Associates 599-3900 Each office indcpcndenily owned and operated. Cl990 Realty World Corporation EquityLin e 1-Year Annual Percentage Rate liiiMiiiSiK Nail it, before we you snou s; K. Our new EquityLine rate is not too good to be true, but it’s too good to last much longer. Which means you should move with all possible speed. You’ll get a 6.99% APR for the first 12 months; no closing costs; and up to $250 rebate for balances transferred from other creditors. You can apply at any First Citizens office Jnf or nail it by phone at 1-888-FC DIRECT (1-888-323-4732), /days a week. Hurry, while we’re still in the mood. BANK Afc>ur financial resource. Just around tlie corner. ■ 1-B8B-FC DIRECT http;//www.firstcitizens.com/i*88 Normal credit approval applies. Property insurance may be required. 6.99% APR is for the first 12 complete billing cycles of the EquityLine Account. After that, the annual percentage rate may vary monthly. Rates will be tied to the Prime Rate quoted in the Wfa/I Street Journal (WSJ) as of the last business day of the previous calendar month. Interest rate will be WSJ Prime plus 2% for EquityLines from $5,000 to $14,999 (10.257o APR as of 1/23/97) and WS) Prime plus 1% for EquityLines from $15,000 to 5100,000 (9.25% APR as of 1/23/97) adjustable monthly ivitfi a maximum 18% APR and a minimum 6.99% APR. Consult a tax advisor for deductibility of interest. I % rebate up to $250 based on balances transferred from other creditors at time of closing. This is a limited time offer. Offer may be withdrawn or changed at any time ivitliouf notice. Completed application must be received before offer withdrawn by Bank or April 15.1997, whichever occurs first. Member FDIC. Equal Housing Lender. isJ
The Charlotte Post (Charlotte, N.C.)
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Feb. 6, 1997, edition 1
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