Ready to test your knowledge? You’ll have ten multiple choice questions to answer. Click on each question to reveal the question and multiple choice answers. After you’ve completed answering all ten questions, click “Grade Me!” at the end of the quiz to see how you did.

Understanding Employee Benefits

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Consumer Privacy

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Banking Basics

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Ready to test your knowledge? You’ll have ten multiple choice questions to answer. Click on each question to reveal the question and multiple choice answers. After you’ve completed answering all ten questions, click “Grade Me!” at the end of the quiz to see how you did.

Reducing Your Spending

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Understanding Your Paycheck

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Ready to test your knowledge? You’ll have ten multiple choice questions to answer. Click on each question to reveal the question and multiple choice answers. After you’ve completed answering all ten questions, click “Grade Me!” at the end of the quiz to see how you did.

Loan Basics

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Managing Debt

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Budgeting Basics

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Direct marketing is still effective. The hype and effectiveness of online contact get the most buzz, but it simply can’t replace directly reaching out to customers and prospects with phone calls and mail. One big advantage direct marketing has is how it allows you to target your customers with great accuracy, making it a very cost-effective method of advertising. Introduction to Direct Marketing Direct marketing is any unsolicited contact that you make with prospects or existing customers to makes sales, generate interest or simply raise awareness of your products or services. The most common methods include direct mail, handouts, and telemarketing. Some advertisers include direct response mobile marketing, print ads, free-standing inserts, television and radio in the list too. Many businesses still use direct marketing to grow their customer base, and as their major source of sales. To give you an idea whether it can help your advertising efforts, here is an overview of the basic components of direct marketing. Database Marketing Database marketing involves selling to customers or potential customers based on significant data profiles. Having a great deal of information on your targets makes it easier, and cheaper, to sell to them. Another advantage is that you might have specific information about what they are interested in, what their needs and concerns are. Over time, you have accumulated helpful data about that can be used effectively in your direct marketing efforts. Among these include: When you effectively use database marketing, you can sort and filter your customers for specific types of mailings and contact. You can also build data profiles of customers that buy from you and then use those profiles to identify sales prospects that share the profile’s characteristics. It is essential that you keep your list up to date, cleaning it out by removing those individuals that are no longer active and by making appropriate changes to phone numbers and addresses. A list that is out of date is virtually useless because you waste money sending misdirected offers. Direct Mail Direct mail is the most common form of contact. Detractors often refer to it as junk mail, but that name does it a great disservice. It works well for B2B and B2C marketing with the right content and research. Most mailings include a letter and inserts, like brochures about the product, order forms and often a prepaid envelope. A complete package like this gets far more response that a simple letter. Even a quality letter and set of enclosures will not get a good response if your email list is not high caliber. Your database is the first place to start. Alternatively, check with reputable companies that offer mailing lists. The Direct Marketing Association, or DMA, is a good place to check for sources of lists. Telemarketing Though telemarketers are sometimes considered verbal spam, they can be a highly effective tool for your business. Speaking directly to prospects offers several advantages, including: As a business owner, you can use telemarketing in B2B contacts with great effectiveness. It has far less stigma in business than it does at home. You can use telemarketing in several ways: Legal Issues and Best Practices Unsolicited contact with people and businesses and using their contact and personal information is subject to legal and regulatory considerations. For example, if a contact opts out from receiving unsolicited phone calls or direct mail, it is unlawful to contact them this way again. The Direct Marketing Association offers a wealth of resources around legal considerations for direct marketing. Direct marketing is an effective tool for many small businesses. It is a way to contact your prospects and customer base, gain information and get sales.

Direct Marketing Basics

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Budgets are a tricky subject for a lot of us. On the one hand, they can be difficult to follow, especially if you set a budget that’s too strict. But on the other hand, they really are the only practical way to get control over your spending to make sure you’re using your money the way you want to. These three key steps will go a long way in helping you develop a practical, workable budget:
  1. Keep track of how you save and spend.
    One of the best and easiest ways to track your spending is by using a software program. With just a few clicks, you can review everything you’ve earned and spent. The more you use the program and the more transactions you enter, the more updated information you’ll have at your fingertips to review later. Of course, if you prefer to track your spending manually, there’s nothing wrong with saving receipts and writing down your spending and savings on paper.

  2. Write down your savings goals.
    Once you’ve started tracking how much you spend and how much you’re saving, it’s time to figure out your financial goals.


    • Do you want to buy a home in X number of years?
    • Do you want to own a new car by the end of the year?
    • Are there home improvements you’d like to have done soon?
    • Do you want to set money aside each month for you children’s education?
    • Are you putting enough money into retirement investments?
    While you’re thinking about your goals, you should also factor in unexpected expenses that could come up. Create an emergency fund for things like a major medical issue or unexpected car problems.
  3. Compare your spending to your goals.

    4. It’s a good idea to monitor your budget on a monthly basis. If you have a spouse or significant other, work on this step together. Are you on track with the financial goals you’ve established? Do you need to make more cuts? Were things purchased that were not budgeted for?
Sitting down to discuss your spending habits and goals is the best way to keep your budget top-of-mind. You may find that your budget can use some adjustment — it may be too stringent in one area and not strict enough in another. It’s helpful to talk about modifying the budget where needed and committing to making it work. Taking control of your finances to create a budget may seem a little intimidating at first, but by taking things one step at a time, you’ll start to eliminate financial worries and have more enjoyment in your life.

How to Create a Useful Budget

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