How Credit Card Finance Charges are Calculated
The finance charge for your credit cards is usually determined by the amount of your outstanding balance on your card account and the current APR (Annual Percentage Rate) you are being charged. Card issuers tend to use one of three ways to determine your charges. The outcome of theses various formulas is not the same; so it pays to know the differences literally. is the dollar amount you pay to use credit. The amount depends in part on your outstanding balance and the APR.Credit card companies use one of several methods to calculate the outstanding balance. The method can make a big difference in the finance charge you’ll pay. Your outstanding balance may be calculated using the adjusted balance, previous balance (sometimes referred to as two-cycle), or the average daily balance as the reference point. Check your card agreements terms if new purchases and/or cash advances are also included or excluded as this varies from provider to provider.The average daily balance is the most common calculation method for interest and or finance charge rates. Everyday in the billing period, your balance is updated with any credits or refunds. With some credit card issuers, any new purchases are also added. When the end of the billing cycle comes around, daily balances are added and divided by the number of days in the billing cycle to arrive at the “average daily balance.”The adjusted balance method is the most beneficial method for cardholders. Credits received during the current billing cycle are deducted from the balance at the end of the previous billing cycle. Purchases and/or cash advances made during the billing cycle are not reflected in the total. Basically, if you pay your bill before the end of the billing cycle you don’t get stuck with finance charges.With the previous or two-cycle balance method, the average daily balance is figured from two billing cycles rather than a single one. As a consequence, this increases the finance charges one must pay normally. There usually is no grace period included with this method and if the bill is not paid in full the interest may be made retroactive back to the original purchase date.It is also important to note that many credit cards also carry a minimum finance charge. Regardless if your calculated finance charge is lower, you will still be required to pay this charge. However, if no purchases or cash advances have been made during the duration of the billing cycle, generally you will not be assessed and charges. Nevertheless it is generally wiser to check the particular card in question’s terms of service and fee schedule.
Fashion Photography Tips For Success
We see them all over the place; in television advertisements, in magazines, and on the runway. They are the beautiful men and women who strut their stuff while showing off the latest styles from the hottest fashion designers. These are the fashion models of today and tomorrow, and the subject of high fashion photography. It is through photography that these models and fashionable clothing are brought to the public. Therefore, these photographs must be taken with a certain level of precision and a special attention to color, style, and lighting composition. Learning a few key fashion photography tips will help to make this possible.High fashion photographers such as Mario Testino and Eva Mueller may not be as famous as the models they shoot, but they are actually sought out more than their model counterparts by fashion magazines and designers. While the dream of huge paychecks and hobnobbing with the rich and famous might appeal to the aspiring fashion photographer, it is not easy to become successful in fashion and model photography. For every one talented young photographer who makes it big, there are hundreds are left dreaming about the moment their photo will be chosen.Here are a few fashion photography tips for anyone interested in getting started in the field of fashion photography. The first thing you must do is study your subject. As with any field, you can never learn enough. Read as many fashion magazines you can possibly get your hands on. There are a number of fantastic books on the subjects of fashion and model photography available. They can be purchased cheaply online at sites like Amazon.com or even cheaper if you get them used on eBay. You will also need a good camera, a tripod, and a lighting system. One of the more often overlooked fashion photography tips, is to ensure that you always have plenty of film and extra batteries available.One of the most important fashion photography tips to focus on is having a portfolio. You need to start assembling a portfolio of your work and you need to keep this portfolio handy at all times. You never know when you will have the opportunity to show your work off to someone in the fashion world. Sharp, vibrant images on a 4 x 5″ transparency will best show off your work, so focus on them when putting your fashion photography portfolio together. If any of your work has already been published regardless of whether it was a local magazine, newspaper or contest, add a tear sheet (literally a sheet you torn out of the magazine) is a great addition to a portfolio. You should have a minimum of 20 photographs in your portfolio and showcasing different styles.In this day of the internet, it is wise to display your fashion photography talent online as well. Setup a simple website displaying your work and submit your digital photos to online contests. Also, submit them to online fashion gallery websites. This will help tremendously with getting your work seen and showcasing your talent around the world. Probably the most important of all the fashion photography tips is to get your photographs seen by as many people as possible. There is no better way of doing this than by putting them online.Remember that most fashion magazine editors are looking for your personality in the photographs that you take. Each fashion photographer will captures the essence of a fashion design and model differently. Most importantly, if this is your dream, do not give up, ever! Keep learning the latest high fashion photography tips and keep working to get your photographs on the cover of my next hot fashion magazine.
The Three P’s of Project Management
Project Managers are People Managers. Many of us have heard this over the years, but is that it? Are we nothing more than people managers? I will agree that we are responsible for managing people and that this is a portion of the PM (Project Manager) role. I ask that we take a moment to look at a couple of facts. Many PM’s get certification from the PMI (Project Management Institute) which is ISO (International Organization for Standardization) recognized certification. Additionally, one could also receive a Masters Degree in Project Management. With that in mind, are PM’s really nothing more than people managers? Is there really a perception that PM’s do nothing more than manage people? Is people management the most important function of a PM?In this article I want to present the three P’s of project management. The three P’s are to take into account the elements and structure of project management. As most of us know, there are five project management process groups and nine knowledge areas (please refer to the PMBOK guide for clarification). I can assure you that there is more than people management when it comes to the process groups and knowledge areas. On the other hand, without people and without people management projects can not be accomplished. So people management is important but without the other two P’s will a project be successful? Let me present the three P’s of Project Management and follow them with a review.1) People Management
2) Process Management and
3) Performance ManagementPeople Management is essential in regards to project management. It takes the leadership of the project manager to guide a team towards working together in symmetry to accomplish the objectives of a project. I feel that cooperation and collaboration are a couple of key ingredients when it comes to people management. Without cooperation and/or collaboration by the team or an individual on the team, a project can end up in jeopardy.How do you build a team that fosters collaboration and cooperation? I have found that the best decisions are made by a team not an individual. Early on in a project I bring the team together to discuss the objectives of the project. Then to engage the subject matter experts and the IT resources in a discussion that elicits the best decisions. I ask questions and encourage the team to do the same. Next we look at making a decision. I follow this up by looking for options or alternatives by asking if there is a better way. The information presented here leads to new and better decisions. New decisions are based on new information, get the team to to collaborate and cooperate and the best decisions will be made. The best information will be presented and individuals will be contributors.It is common for any team to go through forming, norming, storming and conforming in order to grow. The PM expects this and is prepared to manage it accordingly so the team performs. It is persuasive assertiveness that, when used effectively, leads the team in overcoming differences and strives for project success.To this point we have only discussed people management, and frankly, teams can be organized for all sorts of reasons and the team leader can use the information above to leverage the team. Is people management another term for project management?Process Management is equally important to People Management. Without either of these, the ability to provide a successful project outcome is severely diminished. To improve the outcome of a project the PM utilizes sound and repeatable processes that lead to a successful project implementation. PM’s use their knowledge, skills and effectiveness to incorporate the project management process groups and knowledge areas. If the project management process groups and knowledge areas are not effectively managed along with the team there will be project chaos. If your project is in chaos or total chaos, what areas of project management are not being effectively involved in your project? Do you need to look far?I feel that without the utilization of a project management process that projects will wander and drift like a message in a bottle, no charted course and an unknown destination. I have felt the pains of projects without process. They struggled with technology implementations, cost over-runs and the project scope in constant flux. The end result, failure.I found that a similar team managed the next version of an application with a project management process in place, the results were outstanding. There was a solid scope document that provided the necessary information for user acceptance testing. There were five change requests made that went through the change control procedure, four were approved. The plan target date was not only achieved, but the work was completed ahead of schedule. Being ahead of schedule meant cost savings thus the project was completed under budget. All of this was achieved and there were no product defects.Could this have been accomplished with people skills alone? Would you be able to create project symmetry without a project management process? I feel you already know the answers to these questions.Finally there is Performance Management. For the most part, this category falls under process management for all intensive purposes. I like to breakout performance management and look at it from a different perspective. The purpose of performance management is to answer the question … How is you project coming along? When that is asked it should be able to be address the triple constraints. Is the project on schedule? Is it within budget? Will it meet the project scope? By measuring the triple constraints, a PM can track the actual progress of a project and make adjustments based on this information. Performance management holds the team accountable and keeps the senior team informed.Let’s take a moment to look back at earlier questions. Are project managers nothing more than people managers? Is people management the most important function of a PM? My response to this is that project managers must balance both people and process management. One without the other will not provide the optimum outcome.Special Note: I want to convey that I am not overlooking Quality. Quality falls under the knowledge areas which is referred to in the earlier process writings. I hope to go into greater detail on this topic in a future article. In addition, I am not overlooking problem management. I feel that problem management falls under people management since problems are found by people and decisions are made by people.With everything that has been presented here, it is important to keep in mind that Project Managers bring so much more to the success of a project than their ability to manage people. The three P’s of project management, (people, process and performance management) take into account much of the criteria needed for successful project management. As project managers, we are trained, skilled and experienced in this field. If projects are going well we know we are doing the right things. If projects are not going well, reflect on this and take action to correct its course. How well are your projects being managed?