Five Accounting Tips for Small Businesses

Running your own business may have been a dream of yours for many years, and you want to do everything you can so it doesn’t quickly become a nightmare. Making sure that you can take care of your money in the best way possible is one of the many things to do to keep your business safe, and to give it the foundations to be a success for years to come.

Don’t worry, though: you don’t have to be an accounting pro to look after the financial side of things. Here are some tips you might want to take note of when running your own small business.

Keep Details of Your Daily Expenses

As a business owner, it’s a good idea for you to keep records of the everyday expenses that your company incurs. This is so that instead of calculating these every fortnight for your payroll, you can do this every week or even every day. You can then have a more up-to-date view of your finances each week, and how much you’ll need to budget for the next few.

Select Your Bookkeeping Method

You may feel that you’re in a position to be your brand’s head of accounting to save costs — as well as its head of marketing and sales — but you’ll want to make sure that you aren’t making any errors, either. If you don’t want to hire someone part-time or freelance, then you could use accounting software such as quickbooks payments to let you see the numbers for yourself.

Don’t Let Clients Get Away with Non-Payment

Seeing that you’ve got a decent amount of money in your receivables column will be a good thing for you, but it won’t count if that cash isn’t in your bank account. So don’t let your clients avoid these payments: insist they pay for previous orders before they can have more of your materials or services, for example. This will be crucial in keeping your organization going.

Open a Business Banking Account

It’s a smart idea to separate your business and personal life: this will then let you keep track of your expenses and income so that filing your taxes and other records will be a clean and easy job. This also means that you can get a business credit card and put away cash for your tax withholding.

Make sure you have a look around at your various options before you open an account. Have a look at the savings opportunities, fees, and other elements that may affect your type of business. When you’ve chosen one, check which documents you will need to have at your initial appointment.

Check in on Your Success

Knowing about your brand’s financial statements and processes means you’ll have a better understanding of everything that affects your business’s performance. If you notice any patterns or spikes, for example, you can then make a decision on where to spend your money later on. Keeping an eye on these will let you lead more efficiently.

Would you keep a supercar if somebody gave it to you for free? Probably not!

Maybe as a kid or a teenager, you dreamed about having a supercar. These mighty machines can easily top 200 mph, and even when you are cruising in the city, you know you’ll be in the center of attention. You also probably thought about what would happen if someone would come one day and give this super-expensive vehicle to you. But, even for a millionaire, keeping these cars in tip-top shape is incredibly expensive! Let’s use an extreme example, which are the newest Bugatti models like Chiron or Veyron!

You probably know that racing cars are prepared only for a single race at the time, meaning that after that, they need full maintenance. It’s not much different from Bugatties or any other supercars. For example, after every 2500 miles, you will need to change all four tires, and Bugatti will be happy to help you with that for $33.000. Why is it so expensive, you might ask? The reason is simple – these are special tires that are made for speeds well over 250 mph or 400 km/h! If you plan to test the maximum speed, one thing you should know is that you will burn them after only 15 minutes! Still, there is no chance that it will happen, since you’ll be out of fuel in 12 minutes! That is not all, as, after 10,000 miles, you’ll need to change the wheelset, which is even more expensive at $50,000. No wonder even the rich are taking them for a spin on rare occasions! Even if you are rarely driving and instead play some stunning online games to have fun, you won’t be able to save a lot. Every year you’ll need to pay $21,000 for basic maintanance to keep your supercar in shape. When adding taxes, the average cost per year goes up to $150,000. Still, we are just beginning.

Driving an expensive car also means that you look like a perfect target for thieves. Having car insurance is no brainer, but don’t e surprised when you call local insurance companies, and they tell you that what you are asking is out of their league. When you finally find the company that is willing to make a deal, be prepared to pay at least $2000. That price could be doubled base on the current value of the car, your driving history, your age, and many other factors. In the best-case scenario, you will need to shell out at least $25,000 per year. So even though having a supercar is as entertaining as dirty snapchat accounts, would you still like to have one? There is not much to think about it as you probably can’t afford it! Maybe you could keep it in your garage for a decade and sell it for a few million in a decade, as these machines are rare and get more expensive? It sounds risky, but a potentially brilliant plan!

Automobile Financing – 3 Essential Tips for Budget-Conscious Buyers

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We all aspire to have our own cars. However, very few of us have the financial resources to pay for the full price of the vehicle straight away. And because of the relatively high cost of brand new automobiles, financing is often the only feasible way for those working with modest budgets to achieve their dreams of car ownership.

But don’t be fooled: getting a loan might make it possible to own a car, but it can still put more than a sizable dent in the bank if taken lightly. And by researching and making preparations beforehand, you’ll be able to keep the costs of your car loan down at a reasonable level. To this end, here are some essential tips that all budget-conscious buyers must know about automobile financing.

1. Check reviews on your chosen companies before deciding

One of the most common mistakes that many aspiring car owners make when securing a loan is basing their decision on the word of the company or dealership alone. Instead, it’s good standard practice to check for reviews first before deciding on whether or not to secure services from the chosen automobile financier. After all, doing so beforehand will give you a better idea of the interest rates and other options like the best auto lease deals provided by the company. 

More importantly, taking the time to check a lending tree auto loan review can also shed light on the reliability and trustworthiness of the company too. And this can make all the difference in securing a favorable and hassle-free deal.

2. Opt for shorter-term commitments

There’s no denying the fact that longer loan terms are often cheaper when it comes to the monthly payments. However, you’ll still be paying much more in the long run because of the higher interest rates. As such, it makes sense to try to keep the commitment as short as possible. While the payments that you’ll be making every month may be higher, you’ll keep the interest lower. And as a result, pay a lot less in the process.

3. Put as much money down as you can

Apart from opting for shorter loan terms, you can also prevent being in a situation wherein you owe much more than the chosen vehicle is worth by putting down as much money as you can afford. As tempting as it might be to drive away with your new automobile without spending a penny, you won’t be able to part ways with the vehicle in the event that it’s needed if there’s still a considerable debt on the car left. And a sizable down payment will ensure that this won’t happen.

While many talk in a blasé way about car financing, it can end up costing you more in the long run if left unchecked. And by following these tips, you’ll be able to own your own vehicle without breaking the bank in the process and putting yourself in dire financial straits as a result.

Car Financing 101 – 3 Simple Money-Saving Tips

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If you’re looking to purchase a vehicle, chances are that you’ll need a car loan to make your dreams of automobile ownership come true. And for a good reason: the vast majority of us lack the monetary resources necessary to buy a car outright. But while financing can make it possible for us to drive away with the model that we want, there are a few things that need to be carefully considered first. After all, tackling the task haphazardly can lead to a lot of problems with your loan. And have the opposite effect of the intended purpose of securing automobile financing as a result.

So in the interest of keeping the cost of your loan at a minimum without making any compromises or sacrifices on the desired model, here are money-saving tips that you should be aware of.

1. Credit score awareness is critical in securing a good deal

It might sound a little weird to be aware of your credit score when looking for a car loan, especially when you consider the fact that it’s still possible to secure automobile financing like a City Bank bad credit mortgage. However, it’s much more important than you might think. After all, your credit rating will ultimately determine the interest that you will have to pay on your loan. And by being aware of what your score is, you’ll have a better idea of whether or not you can qualify for the best loans for bad credit.

2. Always try to pay any additional fees in cash

When it comes to car financing, it’s critical always to try and pay additional expenses and miscellaneous fees in cash. From the registrations costs and sales tax to any extras that you decide to buy, doing so can go a long way in keeping the interest rate on your car loan at a minimum. And this can make all the difference, especially for those who can ill-afford to spend more than is necessary for a car.

3. Refinancing your loan is another option worth exploring

It’s not uncommon for first-time buyers to land themselves a bad deal on their car financing. And while this might cause more than just a few headaches, it’s not the end of the world. After all, if you have a good credit score and the vehicle that you purchased isn’t very old, you can opt to refinance the loan on your car similar to how homeowners can refinance their mortgages. And as a result, give yourself another opportunity to choose a financing option with a lower interest rate or commit to a shorter-term contract.

Saving money on a car loan may present some difficulties, but it’s not as complicated as some might think. And with the money-saving tips listed above, not only will you be able to keep the costs of your automobile financing at a reasonably low level, but do so without trouble and headaches in the process as well.

Financial Lingo to Know in 2020

As a new decade approaches, the thoughts of most people turn towards improving their own financial position in life. There are many ways to make use of credit and other investment related tools in order to do this. To begin, it is helpful to know some of the financial terms that are tossed around today and how they apply to each individual seeking a better future when it comes to money.

Important Mortgage Terms

If you have plans of going after the American Dream in the coming year and buying your own home, you will want to know about the following terms related to securing a mortgage.

Annual Percentage Rate

This is will tell you the interest rate you will pay each year over the life of the loan. Keep in mind that the rate can change if you have an adjustable rate mortgage, so you will want to look for those terms spelled out in the contract.

Closing Costs

This is the amount of money that you will need to pay, usually out of pocket, to get the mortgage in the first place. It is important to know what this figure is so that you can better plan out your budget.

Earnest Money

If you are serious about buying a home, you will need to put up some earnest money. You can look at this as a deposit. It will be held by the title company and applied to your closing costs when you have finally secured the mortgage.

Mortgage Insurance

If you are unable to pay a large enough deposit on your home, the mortgage company will usually mandate that you take out an insurance policy. This will usually be added into your monthly payment.

Loans Terms You Should Know

There are going to be times in your life when you need a personal loan in order to achieve your financial goals. In order to get the best possible loan package, you will need to know about the following terms and how they relate to your situation.

Personal Loans

These are typically unsecured loans that you take out when you have an emergency need for cash, such as to pay for medical expenses or needed home improvements.

Bad Credit Installment Loans

If an individual’s credit score is less than desirable, bad credit installment loans may help them secure the cash they need to cover an unexpected emergency that needs to be addressed right away. Note this is recommended only if they do not have enough savings on hand.

Line of Credit

This refers to the amount of cash that you can gain access to in an emergency. It is often attached to the equity that you have in your home.

Credit Terms That You Should Know About

Here are some of the credit related terms you should be aware of in 2020.

Credit Rating

Your credit rating determines how much of a perceived risk you are to creditors. The better your credit rating, the more access you have to lower interest rate loans.

FICO Score

This is a numeric score that tells creditors many things about your past performance in handling credit. Some loans will require a certain FICO score in order to get approved.

Net Worth

Your net worth is the sum of all of your assets, including cash, minus your current liabilities.

Knowing these terms will help you in your efforts to become more financially savvy in the coming decade. It is important to know how to use loans to your advantage and how to stay away from money options that are just not good for you. If you can do these things, then you will be well on your way to increased financial freedom in the coming years.

Top Tips to Help You Get the Right Payment Solution Provider

Organizations typically require payment solutions to make the transaction more comfortable and more convenient. These services are also needed by retailers and any other firm that does business daily. This depends on the company and the payment method they choose to offer their clients. Depending on the industry your company operates in, and how clients pay for goods and services, payment solutions should be accessible and suited to your business needs. If you are looking for a payment solutions provider, you should consider hiring an expert. The following are the advantages of choosing a payment solutions provider:

1. Huge experience

When selecting a payment solutions provider, you should choose one who has sufficient experience in this field. The good news is that most reliable providers have been in operation for over 20 years. They have been providing recurring payment services across the globe. Some have worked with over 3000 businesses across a wide range of industries. This has made some experts more competent and knowledgeable in this area. Once you choose wisely, you will get quality services from experienced staff.

2. Well-trained

If you want to get quality results, you should select a payment solutions provider who is well trained. Most experts are well trained on how to offer different payment solutions to various companies out there. They have all the necessary skills and competence in this area. This can assure you that you will get value for your money.

3. Versatile

Some providers only deal with one industry. If your industry is different from the one they deal with, you might not be able to enjoy their services. However, some providers are various. You will note that it deals with several industries across the board. Some of the sectors include; 24-hour gyms, associations, dance schools, medical and even rental, and leasing. This has made them better than their competitors out there.

4. Great customer service

The right provider of these services usually satisfies the needs of his or her customers.  Customer service should be a top priority. You will note that most customer services typically start the day that you sign the direct debit authority. Once this is done, it will often take care of everything, including the administration that goes with it. This can make you save more money and time in the long run.

5. Good prices

Some payment solutions providers usually like extorting their clients. I’m afraid that’s not right. Ideally, a good provider should charge relatively lower prices. The good news is that some usually charge affordable rates and still offer quality services. This can help you save some money.

There are some full-service payment prices, such as; incorporating billing, call center customer management, and credit control. Such a company is confident that its services are the most comprehensive and cost-efficient solutions for different businesses. They are always ready to serve you. You should consider their services today, and your business will grow.

Here Are the Top Factors That Will Lead to Your Business Success

Having your own successful business is what many people want. It means that you will be working with amazing people and become your boss. However, success in business doesn’t just come easily; you must apply the following principles.

Proper planning 

Having a good business plan for your business is a critical step for business success. Most business lacks adequate accounting and financial planning from the onset. However, it changes along with the ways, but once the direction is set, it’s ideal to come up with a clear strategy about the future of the business to communicate it to the staff, the investors, and the entire world.

Networking 

When planning to venture into a given business, it’s ideal that you make connections with people who are well versed in the current trends. Networking with those people will help you understand how to conduct your business. More connections increase the possibilities of having a successful business.

Innovative business idea

The better the business Idea, the faster the business success, but this does not mean that your business idea must be extraordinary for it to bring success in business. It might be an existing product or service that you have just made some improvements. However, your idea must have a success factor that has demand that should either be solving a problem or satisfying a need. Consequently, these will create a market. 

Dedicated employee

The type of employee in your workplace determines the success of your business. It’s ideally essential to hire competent employees in your industry. Talented employees are likely to be innovative and creative to work with. This will develop your business faster to succeed. For that reason, it’s better to take time when recruiting employees. It’s worth noting that its the workforce of a company that spurs it to success. 

Type of product or service

One of the key contributors to business success is the type and quality of the product or service you are offering to the customers. There are questions that you must ask yourself as a business person; is my product going to satisfy my targeted audience needs. This question will guide you through creating a product that is meant to meet the needs and wants of a targeted audience. 

Customer satisfaction

The sole purpose for you to be in business is to serve customers. Customer is the ultimate king of any business, and their satisfaction determines the success of the company. After-sales customer service makes the customer happy. When customers get their problems solved at any time, the chances of frequenting your business place will be high. No matter the best products you have, they are never sold unless there is a provision of excellent customer service.

The above-listed factors and many others, such as accounting and financial planning, are the main pointers that help small businesses to spur and achieve their growth and success in any field. Every business is unique and special in its style. It is ideally necessary to apply those principals as a strategy of becoming a successful business owner. 

The Top 10 New Cars Coming To Australia This 2020

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As the new decade starts, there are new beginnings with the world of cars in Australia. Expect to see a lot of new metal that you need to consider getting, especially with the country’s new-vehicle market still in decline. 

But wait, before you start searching for car finance options and getting the first thing you see, you need to know what’s best to get first! After all, investing in a car is no joke, and you need to get the bang for your buck. 

Be ahead of the news and read on as I show you the top ten new cars to expect in Australia this 2020.

Top Ten New Cars Coming to Australia

Are you planning to invest in a new car this year? It’s best to start your search now, so keep your eye out on the following models:

1. Ford Escape

This is a huge deal for Ford Australia, as it comes with a plug-in hybrid powertrain. Combining a four-cylinder petrol engine AND an electric motor, expect this car to have the total power output of a whopping 165kW. There may be other local engine options, so watch out for it coming out in the first half of the year.

2. Kia Carnival

The Kia Carnival was strong last year, with the new generation growing even stronger by the time it comes out in the third quarter of 2020. There aren’t any huge details yet but expect it to come at impressive specs for an affordable car. And expect its sales monopoly to grow even further than last year!

3. Mercedes-Benz GLA

This is probably the most popular SUV in the premium category, with a new generation expected to arrive in 2020’s second quarter.

While it’s shorter in left, the new Mercedes-Benz GLA will be bigger in other crucial dimensions, from height to advanced systems for safety and comfort. Can’t expect any less from Mercedes-Benz, of course!

4. Subaru XV and Forester Hybrid

While these two car models aren’t new, they take another step into the new decade with a self-charging Hybrid variant! Known as the e-Boxer, this powertrain will be installed into Subaru’s two famous models, kicking off the company’s electrification era. This makes Subaru’s newer models futuristic, fuel-efficient, and environment-friendly! 

5. Volkswagen T-Roc 

After a few years of delaying, Volkswagen Australia will start entering the small-SUV industry with the T-Roc. This model will have an all-wheel-drive with a 2-liter turbo-petrol four-cylinder engine! 

This is a huge deal for many car enthusiasts, and while you think it’s an expensive choice, they will offer affordable options for the T-Cross SUV, which comes out in May.

6. Hyundai Aura 

Hyundai kicked off 2020 with the Hyundai Aura last January, replacing the Xcent. This is the newer generation of Scent, offering two petrol motors and one diesel engine. There are different speed manuals and AMT units to accommodate all drivers, with whopping power at affordable prices. But expect these prices to come up after its launching!

7. Honda City (New Gen) 

This is actually the fifth generation from Honda City, which is now a C-segment sedan. It has improved on quality, powertrain, and space, making it suitable for small families with comfort and strength in mind. There is now a turbocharged motor I the new Honda City, though you can find petrol and diesel powertrains available as well.

8. Tata Gravitas

Tata Motors offers the Gravitas, which is their flagship SUV coming up this February. It’s the bigger version of its predecessor, the Tata Harrier, but having design updated for a fresher, spacious look. It will have the 2-liter and 4-cylinder diesel engine, but no official announcements on the torque and power figures just yet.

9. Land Rover Defender (New Gen)

This is the all-new Land Rover which is becoming popular all around the world, not just in Australia! Expected to come out by June, it will have a P300 Ingenium petrol engine and in four different trims. Expect it to have complete features such as leather seats, video-driven mirrors, excellent audio system, among more extra driver aids.

10. Audi Q8 

The Audi Q8 was released last January, which is the company’s flagship SUV. The car is powered with a 3-liter TFSI petrol engine, offering around 340bhp. It will also have an eight-speed automatic transmission, AWD system, and an MMI touch response display on the dash and below the air-conditioning system.

Wrapping It Up

There are so many things to feel excited about in the car industry this 2020! I hope that this list of the best new cars coming to Australia helped you out. So don’t wait any longer and begin making the right investments now!

Do you have any questions or want to share your knowledge of upcoming car models? Share it in the comments section below, I would love to hear what you have to think!

How Digital Transformation Companies Support Your Business?

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Every successful company, brand, or entrepreneur needs to work on themselves and their development. In this sense, the digital transformation process is essential. Survival in the market is not guaranteed to any organization or individual who does not embrace new trends and who does not keep up with the times and advances of technology.

More about these changes read on the following source: 

https://www.information-age.com/what-is-digital-transformation-in-business-123477523/.

Implementing new, contemporary solutions in your business may not always be your job. You may know best where the problem with your business is, but you probably don’t know how to solve it. You will conduct a thorough analysis with the help of experts in the field of implementing new solutions. They will help you understand why changes are necessary.

The mission of digital transformation companies is to help you implement new technologies and tools in order to get better business results. Also, they will educate executives and employees to spot, accept, adapt, and get the best out of the changes that take place in their environment.

Digital Transformation Success Factors

 

Sooner or later, all companies that want to keep themselves alive will have to go through the process of digital transformation. It takes time and includes many factors. Primarily, these are resources needed to complete this process. Maybe the technology is rapidly becoming out-of-date, but prices are not dropping at the same speed.

Companies’ owners, executives, and the entire work environment should be ready to welcome the future, as well as all the challenges and benefits it brings. In addition to implementing new technologies, tools, and software, you’ll need someone to work with your employees on accepting changes as inevitable, but beneficial for them and their work performance. 

Importance of Data Science

 

Another factor that is the key to the successful implementation of digital transformation is data. Without it, it is not possible to perform business analysis, identify problems (if any), and find solutions to them. For example, working on the company website can help you with collecting data about your buyers/clients and find out why they are leaving your web page too soon.

Digital transformation is being implemented to make data processing more efficient. The simplest example is converting analog files into digital form. All documents are now stored on internal software. They are available to anyone who needs them at any time. That is just one form of business improvement.

Work on Digital Literacy

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Leaders of the companies need to be digitally literate and understand the importance and benefits of this transformation. That does not imply formal education, but a realistic perception of the current time and trends that are ruling the market.

One of the tasks of these companies is to empower and encourage people to work in new ways. Initially, employees are under the impression that new technology is not helping them. Still, when they embrace the opportunities that new business model offers, they quickly become aware of the benefits that reflect, in greater functionality, and faster and more comfortable work.

It is much easier for younger generations to adapt to new ways of doing business. With older employees, this will be a little harder, but not impossible. Hiring experts from digital transformation companies are required at all levels in the organization, although not everyone needs the same knowledge and skills.

Improving Communication Channels

 

Working on the communication of employees with their superiors, and vice versa, is also one of the tasks of digital transformation experts. Whether using traditional or modern channels of communication, you and your employees have to use them daily. Installing internal communication platforms will allow the rapid flow of information and their generation in one place.

The purpose of hiring a digital transformation company is to provide employees with lectures or practices where they can test the features of new tools and software. Therefore, the goal of this transformation itself was not only to implement new technologies and tools but to include human resources in all these innovations.

Those who have not yet done anything about digital transformation are far behind. Hiring experts in the field can help you to change your existing business models radically. But the maximum involvement of everyone within the organization, affected by these changes, is a must.

How to Expand a Home-based Business to an Office with a Full-time Staff

It’s a popular idea to strike out on your own, start a mini business at home and finally get your freedom. But what if you discover that that’s not enough for you?

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Let’s say that you realize there’s enough potential that you should grow the business to the point where you have staff and work from a rented office – how can you achieve that?

In this article, we provide some pointers for how to upscale your plan to get out of your home office for good. 

Create a New Business Plan

Even if you never actually had a business plan to begin with, it’s never too late to produce one! Creating a business plan isn’t necessarily about the final plan itself. Mostly, it’s about making time for the deep work of business planning. This lets you run through different scenarios to determine how your business can be grown successfully from its current level to something much larger, and in a sustainable manner, too. 

For instance, as a solopreneur, you may have been satisfied with a $65,000 yearly income for the business while maintaining low expenses. However, that won’t be sufficient to expand to an office with a roster of capable staff. Think and plan bigger…

Consider Remote Staff, Initially 

While you probably would prefer to take on full-time staff, it may require several months to get there. Indeed, it may be impossible to do it without a team to perform the essential functions necessary for the business to expand.

Before it’s possible to lease an office for a full-time staff to work from, you may still need workers. In which case, being open to remote staff or freelancers is the next best thing. Not being open to them could hinder your progress. 

Management and Procedures

If you go the route of having either freelancers or remote staff working for you before the office move, then you’ll need to learn how to manage them. If you haven’t been a manager before, then there’s much to learn. Furthermore, managing remote workers or freelancers poses some unique challenges too.

By starting earlier, you can create systems and procedures that work well before making the move. At this point, remote workers can work from the new office or a new local team can be employed. With procedures already set up and tested, the move will go much smoother. 

Get the Finances Right

Accumulating money from profits to fund the office move takes time. It may require longer than you’re willing to wait. 

Companies like Advanced Point Cap provide business cash advances which can be useful in this circumstance to bridge any gap in funding. Availing yourself of these types of facilities prevents your business from getting stuck in neutral unable to lease an office and have a place to meet prospective clients when needed.

While it can seem like a long road to go from a home-based business to an office-based one, many founders have successfully made this transition. It requires some perseverance, but it can be done.

Seven Tips to Get the Most Out of Your Currency Exchange

11.2 million Australian residents made trips overseas in 2018-19 which is more than double compared to overseas trips 10 years earlier.

With a record number of Australians heading overseas every year, knowing how to get our hands on the best currency exchange rate is really important. Here are seven tips to consider to try and get the most out of exchanging currencies before departing overseas.

Shop around

For many of us, when we make a large purchase, we understand the potential financial merits of shopping around. When buying foreign currency, it should be no different. Before heading overseas, consider comparing exchange rates across banks, travel agencies, currency exchange stores as well as online providers. 

Last month the ACCC highlighted that during 2017-18 consumers that used one of the big four banks to exchange AUD to either US Dollars or British Pounds, could have collectively saved $150 million Australian Dollars if they had gone with a cheaper provider. Rod Sims, chair of the ACCC said: “Shopping around could save Australian consumers hundreds of millions of dollars each year.”

When comparing, we can look beyond the base rate and take into account the total cost of our transaction. Carrying out research on all potential costs and fees involved before purchasing foreign currency can be beneficial. A provider that offers the best exchange rate, could charge us additional commission costs or conversion fees. 

Plan ahead

 

The majority of suppliers fail to disclose their total price upfront, and at times as consumers, it can be difficult for us to compare costs. Planning a few weeks or even a couple of months ahead can allow us more time to research all of the options that are available to us.

Tracking the exchange rate regularly can help determine whether foreign currencies are improving or declining against the Australian Dollar. In addition to this, making sure that we don’t leave buying our currency to the last minute can also help us get our head around what it is going to cost and hopefully get a better rate.

Research options

While tracking exchange rates closely can be difficult and time consuming for the ordinary traveller. Comparing rates online across multiple providers can be relatively easy with the right tools.

Websites such as Finder.com.au and The Currency Shop are good places to start when it comes to trying to compare currency exchange rates with one another. It can be worthwhile checking each provider’s site before making a final decision.

In the event of us needing foreign currency exchanged in the final days leading up to our overseas trip, if delivery is an option, it can be worthwhile checking with the provider that the estimated delivery time falls in with our travel schedule. 

Prepaid travel cards

 

Purchasing foreign currency with a prepaid travel card can provide multiple benefits. A prepaid travel card can enable travellers to fix the exchange rate on the day of purchase. Travel cards can also allow tourists to easily track how much they’re spending and can be topped up online when overseas.

Abhishek Sharma from online currency exchange platform ForeignXchange said “Travel cards are a great way to carry money overseas, travellers don’t have to worry about taking out loads of cash on a day-to-day basis and if you start to run out of spending money whilst you are overseas, you can top-up and reload a prepaid travel card anywhere, at any time.” 

Exchanging currency at the airport

 

Airports right across Australia all have one thing in common. Thousands of travellers passing through every day, with limited options on where to eat, drink, shop or buy currency. This extremely captive audience means that there is limited competition amongst retailers.  Leaving a large amount of airport currency exchange providers to get away with relatively weak rates. 

A recent inquiry carried out by the ACCC found that exchanging currency at airport locations is, on the whole, more expensive. Buying 200 US Dollars at an airport location in February of this year could have saved the average consumer 40 Australian Dollars (when compared against a non-airport exchange provider).

Buying foreign currency months or even weeks in advance of a trip can enable travellers to get more money for their exchange. Buying travel money online or in the city can often yield a better exchange rate and give us a better chance of getting more spending money before we head overseas.

Customer reviews

 

Checking out customer reviews and testimonials can be another way to benchmark banks and other providers when it comes to currency exchange services. Tripadvisor, Google reviews and providers own testimonials can be good places to start. 

A 2018 report carried out but Sensis showed that 68% of Australians are likely to read online reviews prior to carrying out a purchase decision. Likeminded travellers can assist the decision process by sharing positive or even negative experiences when it comes to exchanging their hard-earned Australian Dollars into foreign cash.

As consumers, we can take a look at the most recent customer feedback which can help gauge what type of service we can expect.

Friends and Family

 

Finally, talking to our friends about their experiences with exchanging AUD into foreign currencies can be beneficial. They may have had poor experiences with some providers or know where to get the best rates locally. Chances are, speaking with either our colleagues, friends or family members will help to provide us with some indicators or valuable insights based on real-life experiences.

As travellers, we should take into account what suits our needs the best. If it’s convenience we are after, then ordering currency online or purchasing a travel card could be better suited. Or if we like keeping track of how much we are spending or familiarising ourselves with foreign currencies, we can purchase our foreign cash from a physical currency exchange store and get cash in hand before we head overseas.

Why You Need to Automate Your Financial Stability

A lot of people have now reverted to a digital banking platform that uses artificial intelligence to make their financial life a lot more comfortable and convenient. You can easily create a profile, as well as link your bank and credit card accounts in this unified platform. When you depend on software to automate your financial stability, you will have a whole team that aims to use their talents, technology, and tenacity to secure the hard-earned money that you entrusted them with, to protect.

They also make it their mission to reverse debt and stop steep bank fees so that you can enjoy banking refund perks. Their ultimate goal is to help you grow your money and minimize expenses so that you can be on the road to financial wellness and financial freedom. Here are the perks of using AI to manage your finances:

Provides an Easy-to-use Interface 

Automated digital banking platforms provide a simple and highly intuitive dashboard that organizes all your data in one window, so you can always see the big, clear picture. You can easily connect your bank and credit card accounts with just the push of a button under one profile where all your sensitive information remains secure. This platform is straightforward to use; even newbies won’t have a hard time grasping the concepts. 

Leverages Artificial Intelligence to Help

You reap what you sow by relying on artificial intelligence. Fees are instantly identified through AI. With just the press of a button, these fees are renegotiated so you can enjoy banking refund facility and fee discounts automatically. Bank fees are expensive and sometimes unnecessary. The team behind your automated software does its utmost best to ensure you don’t feel the pain from these unreasonable bank charges. 

Provides Security for your Hard-earned Money

You can have the confidence to engage in transactions because a reliable platform provides a secure line that’s protected by top encryption technologies. Your details will always remain confidential. Most of all, you can securely link all your accounts without having to worry about malware and hackers. 

Helps you Manage All of your Debt

Since you can see all your accounts in one dashboard, this helps you keep track of what you owe. Never miss due dates or get confused about your payments with the help of this high intuitive platform. You can even pay your debt on the site. In this interface, you can see what goes where and when. Having the ability to manage with ease minimizes costly mistakes, which allows you to plan your moves better. 

Supports Automated Negotiation with Various Finance Institutions

Your automated platform is comprised of many professionals that have established closed ties with many reputable banking institutions. With this platform at your fingertips, you can confidently and securely manage your transactions. Best of all, you can do these things in the comfort of your own home. There will be no need to waste energy and money to go to your bank. You also don’t need to spend your valuable time waiting to talk to the right people who can help you reduce your fees and overdraft charges. 

Bottom Line

Don’t waste your efforts on archaic methods that no longer work. By supporting the right system, you can leverage technology to give you a more comfortable life. This choice helps you reap what you sow, so you can harvest better gains when the time is right. 

Pennon Partners Shares The Best Budgeting Apps For Getting Your Money Back Under Your Control

Managing your finances is something that everyone should be motivated to control. Everything from budgeting to saving should be considered in your financial strategy to ensure stability. However, the challenge of how to accomplish that often arises as a result. Fortunately, in today’s era of modern technology, we have a variety of mobile apps at our disposal that can be used to help expedite such processes.

While many people have their own unique ways of managing their finances, apps can help you get your finances in order effortlessly. Here are some of the best budgeting apps that will help you eventually get all of your money back under your control.

PocketGuard

PocketGuard is a very unique app that will allow you to gradually sync all of your financial accounts into one convenient location. That means everything from any loans and investments you have to your credit card accounts will all be grouped together. The reason why this app can prove to be very useful is that there are embedded spending limits within the app’s interface. This will give you a deep insight as to where you are spending and is then categorized into different “pockets”.

This app even comes with a nifty “lower your bills” feature that can give you an overview of the number of bills that you can be spending less on without leaving the app. All of these pertinent financial information is encouraged to help you make wiser financial decisions and put more money in your pocket. For further sound financial information, you can feel free to visit Pennon Partners for expert advice.

Goodbudget

Goodbudget, once known as the Easy Envelope Budget Aid, is based on the unique envelope budgeting method. If you are wondering what the envelope budgeting method is, it is a very simple way to pay your bills and save your method. With this method, you will be able to set aside the money that you need for bills while maintaining a personal budget simultaneously on the side.

What the Goodbuget app does is envelope your bank balances while having an expense tracker available for you to use. What makes this even more beneficial for you is that all financial information can be synced through multiple devices such as iPhones and other smartphones. Over the web, you will also have the option of downloading transactions directly onto Excel. The app will then deliver reports to help you change your budget as needed. Most importantly, you will be able to get an idea of how much you are bringing in and how much money is going out.

Mint

Mint is another unique app that features some of the same attributes of the other apps on this list. What makes this app stand out is that it will organize credit card and banking transactions with a trending feature. You will be able to track many aspects of your finances such as your spending, cash flow, and income. You will also be able to see the fluctuations in your net worth based on how the other values trend. You will also be able to set up long term financial goals for you to reach.

Some of the other features on this app include creating a budget, getting tips for reducing fees and setting up bill reminders.

YNAB

YNAB, also known as You Need a Budget, is a popular mobile app that focuses on the most difficult part of budgeting. That being behind on your finances and utilizing the income that you make this month to pay off bills from a month ago. YNAB works in a way to reverse this habit.

One popular feature that you will see with YNAB is the automatic emergency fund. YNAB helps you gradually build an emergency fund automatically so that you will have access to cash when you absolutely need it. This will allow you to move to a place where you have a bit of a cushion within your budget. You will also have one more month’s worth of living expenses based on this system.

This app will also sync your bank accounts, and you won’t have to worry about manual reconciliation or manual entry of your information. Goals for upcoming expenses to help you stay ahead of the game is also another great feature you should take advantage of. With all of the financial responsibilities you may have on your plate, you will probably need expert advice to help you manage it all. Pennon Partners has a great deal of resources for you to use if you need assistance.

Mvelopes

If you want to enhance your experience with a budgeting app, the live support feature that Mvelopes offers may be of interest to you. Mvelopes offers more budgeting capabilities than your average mobile app because you will be able to choose the level of service that you want, and the live support can give you a whole new view of your finances. Live chat support is available on the three plans that are offered, but you will also have access to a personal finance trainer. You will also have monthly sessions with this trainer that you come into contact with.

The three Mvelopes plans go from Basic to Complete, with the latter option featuring customizable plans, financial education, and accountability. It also comes with personalized sessions to check in on your progress and give you valuable insight as you can go.

You should be taking advantage of the apps that are available across all mobile platforms and get control of your money back. Don’t let any distractions get in the way of taking back your financial life, and begin making your life easier by taking a look at some of these apps.

Google is messing with search results and it can be proven

When somebody types in the search term into Google, for example, Jackpot Capital casino download, the person expects to get search results back that are relevant to their search.   In an ideal world, the actual link to the actual downloadable file for the Jackpot Capital casino download should be the first item. But in reality, it will, in a majority of instances, end up within the first 5 – 10 search results.

But what if nothing came back?  If you knew, for a fact, without a single doubt in your mind that there was something in the vast internet world that matched those keywords, and nothing came back, what would you think?

Well, I have found such a search result.  The reason why this is big is that it proves without a single doubt in anybody’s mind that Google had already put into place the ability to selectively not show certain keywords.  Now imagine this, it is the 2020 Presidential Debate, and one of the questions is “Is Hunter Biden’s son being paid $85k per month by a Chinese company when Hunter Biden has no experience, considered a form of bribery?”

Maybe somebody hasn’t been paying attention and has no idea what this question is talking about.  So they type into Google +”Hunter Biden” +China +85k and nothing comes back. Zero, zilch, nada. Would anybody believe that there are no search results?  What would Google say, “Ooops, we have a software issue and we are looking into it.”  

But my test results will prove Google precreated the software code to allow Google at any point, any time to across the board, return zero search results for a valid search query.  In other words, Google has all of the pieces in place to interfere in the 2020 US Presidential election, and videos have been released that show that Google has every intention of using this code.

My personal testing of Google’s search engine

I actually came across this “bug” / “feature” back in June 2019 when I had to write a letter to somebody and I needed to reference a previously published article.  It is now January 30, 2020, and today I have been able to recreate these search results.

For all of these results, I expected at least a page of search results involving news articles.  This is the results I got back.

Search Test 1

Keywords: +child +pornography +Muslim

Expected results: News articles that talked about child pornography involving Muslims.  Since there was a big case involving a child, sexual abuse, and grooming in London, England, I should have gotten back some results.

Google Results: Nothing — “Your search – +child +pornography +muslim – did not match any documents.”

Search Test 2

keywords: +child +pornography +Christian

Google Results: News articles

Search Test 3:

keywords: +child +pornography +Jewish

Google Results: 

“No results found for +child +pornography +jewish.

Results for child pornography Jewish (without punctuation – Learn more):”

Search Test 4:

keywords: child pornography Muslim

Google Results: Nothing

Search Test 5: 

keywords: child pornography Christian

Google results: About 16,300,000 results (0.44 seconds)

Search Test 6: 

keywords: child pornography Jewish

Google Results: About 7,240,000 results (0.48 seconds)

Search Test 7: 

keywords: pornography Muslim

Google Results: About 38,000,000 results (0.34 seconds)

Search Test 8

keywords: pornography Christian

Google Results: About 45,100,000 results (0.43 seconds)

Search Test 9: 

keywords: pornography Jewish

Google Results: About 3,320,000 results (0.59 seconds)

Search Test 10:

For this test I change to the browser Opera and I change to the search engine “duckduckgo”.

keywords: child pornography muslim

Duckduckgo Results: News articles were returned (as expected).  Duckduckgo does not give a total count of results returned.

Search Test 11:

keywords: +child +pornography +muslim

Duckduckgo Results: News articles were returned (as expected).  Duckduckgo does not give a total count of results returned.

Summary

I have just proved without a single doubt in anybody’s mind that Google in manipulating their search research based on the individual whims of the individual programmers at Google.

One, Google has the ability to selectively remove ALL (and I mean 100%, not a single link showing) for search results that it does not politically agree with.  When I searched for +child +pornography +muslim using Chrome and Google, I got zero results back. When I did the same search using the Opera browser and the search engine duckduckgo, I got search results back.

Two, Google has the ability to selectively change a search pattern to increase the chances that negative search results of their “enemy” appear.   When I searched for +child +pornography +Jewish, Google changed my search parameters to just child pornography Jewish. Google did not change the search parameters when I searched for either child pornography Christian or child pornography Muslim.  

So what does this all mean?

It means that Google has the ability already in place, and has had it in place for over 6 months now (at least), to wipe out whole search results with a few keystrokes. 

Would Google implement this for personal political gain? Let’s look at the evidence. Negative search results about Muslims, removed from existence from Google’s results.  Negative search results about Jews, search criteria changed to return the maximum number of negative search results. And it is not standard procedure, because they left the search results for the keywords +child +pornography +Christians alone (returned results, but did not change the search criteria).

So will Google use this programming to affect the 2020 election?  There is a pro-Muslim and anti-Jewish bias written directly into Google software code.  And it is not generic programming, because the Christian test was the control.

Trump moved the US Embassy from Tel Aviv to Jerusalem, Trump set up travel bans from Muslim countries that are heavily involved in terrorism, and Trump is working to seal the US’s borders.  In other words, Trump is not the best friend of the whole Mulsim community. Not to mention the fact that videos have been released where the leaders of Google talk about definitely having plans to interfere in the 2020 election against Trump.  These tests just prove that the software is in place and ready to go.

Is that illegal?  Should it be illegal?  I don’t know.  Is the fact that Google receives money for foreign advertisers affect anything?  Is the fact that Google is an international company and directly getting involved in manipulating, what should be freely available knowledge to the public, affect anything?  Again, I don’t know.

Ways to earn extra money and pay off your debt quicker

Everyone who has debts knows how difficult life can get when you struggle to make ends meet every single month. One of the first things people try doing to pay off debts is reducing their expenses. But the amount of money you can save this way is limited, so there’s no guarantee that this solution will be enough to help you get out of your financial troubles. If you’d rather opt for something more effective, look for ways to earn extra money.

Organise a garage sale

After years of living in one place, our houses can get really cluttered. And in reality, when you take a walk around your house, you’ll realise that you don’t really need many of the things you see there. Organising a garage sale can be a great way to earn some extra cash, and gain additional space as a result. Just look for things you no longer need and check whether they are still in good condition. House appliances, useful gadgets, clothes, and books, selling such items can help you pay off at least a part of your debt. You can also use free online ad posting sites to reach more potential buyers.

Collect scrap metal

Collecting scrap metal is another very popular way of earning extra money. You will probably be able to find at least some things you can scrap around your house, like your old fridge or metal food containers. You can also look for other things to sell, for example, many people leave their unwanted house appliances on the street for others to pick up. Some businesses also have a lot of scrap lying around but no time to deal with it. There’s a chance they’d be willing to let you take it for free, so try looking for such opportunities. And even if you can’t transport everything to a scrap yard on your own, there are companies that can help you. For example, Trans Metal offers scrap metal pick up from your own home.

Look for a part-time job

If your current salary isn’t enough to cover all of your needs, you can try looking for a better paid one. Or at least find a part-time job that will help you improve your financial situation. Especially during holiday seasons, companies may be looking for more employees. But if you’re not able to fit another job into your schedule, you can also look for other opportunities. Many people are looking for a dog walker or someone who will take care of their pets when they go for vacation, so if you’re good with animals, it may be a great way of earning extra money.

Clean houses

Cleaning a house after a renovation can be a very demanding task, that’s why many people prefer to hire someone to do it for them. For others, it’s difficult to find time for cleaning in their busy schedules and want someone to take care of the house for them. So if you’re looking for another source of income, this creates some great opportunities. Of course, at the very beginning, you’ll need to buy at least a few useful tools. Look for good window cleaning tools, effective detergents, and the best shop vac. Buying such things can be expensive, but it’s an investment that will make your job a lot easier.

Use your skills

If you feel that you’re an expert in a specific subject, you can try making money this way and become a private tutor. You can offer online or in-person math, physics, or language classes. But you need to be aware that the amount of money you can earn this way depends on your knowledge and experience. Another way to earn money is by finding freelancing job offers online. You should definitely consider this option if you’re skilled in writing, translating, or graphic design.

There are many ways to earn extra money, so you’ll definitely be able to find something that works in your situation. If you combine extra earnings with reducing your expenses, solving your financial troubles will be a lot easier, and paying off your debts won’t be a problem anymore.

How to Set Personal Financial Goals

Finances play an essential role in managing and maintaining your spending and structuring your lifestyle and living conditions. It is for this reason that you need to set goals regarding your financial security and freedom. Financial goal setting is necessary, whether conducted in the short-term or long-term. Financial goals also incorporate comprehensive strategies for tax reduction, retirement, risk management, and maintaining cash flow.

Periodic financial planning is essential in order to review your goals, update them, and review progress from the previous financial period. When setting financial goals, you should critically evaluate your financial abilities to ensure that they are realistic and achievable. Below are effective ways of financial planning;

Create a Budget

When it comes to creating a budget, the first step is identifying how much money you have access to. From that amount, deduct liabilities like debt to determine your net income. One of the crucial steps in creating a budget is finding out what you need, want, and value most, and managing your expense priorities.

To create an efficient budget system, you might want to integrate all your accounts into one and categorize them. This can also be achieved by going through your previous bills, expenses and financial statements and labeling them by categories. At this point, you should list how much you wish to spend on each category item and compare it with your allocated amount for spending. The money should be at the same level; otherwise, you should adjust your budget accordingly.

Build an Emergency Fund

Emergency funds are important in ensuring your financial stability in case of unforeseen circumstances like unemployment, and serious cash emergencies. The proper way to put together an emergency fund is by having an amount of money automatically deducted from your paycheck and having it deposited in a separate account, or by setting aside the amount during your budgeting process.

An emergency fund should be a priority item when setting financial goals. The amount for the fund should be between three to six times the amount of your living expenses; this helps guarantee cushioning during difficult economic times. Because of its nature in urgency, the fund should be easily and quickly accessible at all times.

Pay off Debt

The first step in securing a debt-free financial statement is identifying and keeping track of how much you owe. This may be in the form of credit card debt, student loans, bank loans, or other personal loans. There are different criteria and methods that can be applied to repaying your debt.

Some strategies to clearing your debt include; paying your debt, starting with the one with the highest interest. This is because costly interest rates make it difficult to achieve your financial goals. Another criterion, debt snowball, would be to pay off your debt from the lowest to highest regardless of the interest rate; this is meant to motivate you to clear the debt. Regardless of which method you prefer to utilize, the goal is to reduce your debt burden and maintain your creditworthiness.

Save for Retirement

Retirement is a critical stage that requires financial planning in advance. When developing retirement strategies, one of the important steps is to determine the cost of your living expenses during retirement. The next step involves subtracting your expected income and contributions to social security, retirement plans, and pension schemes. The value you remain with should be the deficit amount you would need for your retirement portfolio.

One strategy of planning for retirement is to apply for an employer-sponsored retirement plan, where the employer matches your contribution. Another approach is enrolling in an independent retirement arrangement and utilize tools provided by GBTI Bank and other financial institutions. Remember, when planning for retirement, you should adjust to accommodate for increased healthcare expenses.

Investments

Investing extra funds is a beneficial step towards achieving financial growth and stability. An investment can either be a short or long-term venture. Making investments can also be utilized as a tool for meeting other financial goals like retirement and maintaining emergency funds.

The key to securing a healthy investment portfolio is diversifying. You can, for instance, invest in stocks, real estate, and bonds simultaneously. For short term investments, consider investments with a debt nature like fixed deposits, debt mutual funds, and bonds, because there is less chance of losses. Earning additional income from investments fast tracks your financial growth and securing budget deficits.

When setting goals for your financial future, you should consider incorporating other aspects of your life into your financial plans. Strategies resulting from such input includes taking a life insurance plan and health and education policies.

The key to setting goals is planning, keeping consistency in your efforts, and updating them when necessary. Keep track of your finances using books of accounting and online tools and software. Researching the progress of your financial plans and alternative sources of income would further go a long way toward reaching financial security and freedom.

Why take up small business line of credit in Canada

What is business line of credit?

A business line of credit(LOC) is lending money to a business owner with interest as fees. LOC is a dept financing, where owner’s have to pay the money back over time. A line of credit is a revolving form of a loan, but it is different from traditional loan. It is depend from bank to bank, that line of credit will have fixed rate or variable rate of interest.

In line of credit, maximum lending money is decided before, and the owner can borrow any amount of money within its maximum limit. And, the interest will only be applicable on the borrowed money only, which is what line of credit is.  The small business line of credit with Small Business Capital is the most valuable way you can receive funding and not throway major share of your business out of your hands to run the business.

Other than business line of credit there are also other LOCs like Personal Line of Credit, Demand line of Credit etc.

Here, is Why you should take up small business line of credit?

How to get a business line of credit application?

The application processing time for a line of credit is easy but time taking. So, you can’t afford anything wrong in paper work. It is best to prepare every document work before your application get declined. 

Here, are the required document required for approval of Line of Credit application-

  1. You need a business bank account(current account)
  2. You need to submit your business licence, specially required to get business line of credit.
  3. You need to show last two years, business financial statement with self-attested by the owner.
  4. Your bank transaction history or statement  for last three months.
  5.  Your need to submit investment or deposit statement at other institute. 
  6. Government issued ID-proof, this will prove your nationality. 
  7. Income tax return statement

How does business line of credit beneficial than business loan?

In line of credit you don’t need to borrow full amount at a time. You can borrow small amount of money when you need it, and you only have to pay on the borrowed money only. It is beneficial for small business and new business, because you don’t have to borrow large amount of money at once.

Also, you don’t have to apply for multiple business loan every time. So, this saves your time from the complicated process of loan.

You can even start a business with nothing with the help of unsecured LOC. 

Where can I apply for business line of credit in Canada?

In Canada, you can go to any bank having line of credit service. It will be easiest job if you have already have account in that bank, if your don’t have one you need to open first a business bank account. These are some of the popular banks in Canada-

  1. CIBC
  2. TD Bank
  3. RBC
  4. BMO

 

Why take up small business line of credit in Canada?

Line of credit is for business man and specially for small business. Let’s see why 

  • New Option to borrow money

Line of credit is a good option for borrowing money. It is a new evolved form of loan made for benefits of business man. 

If you have line of credit approval, you can borrow any amount of money within limit without much hesitation. Just like Credit card. 

The difference with Credit Card is that Credit Card is available to all the people and the borrow limit is much less. Whereas, line of credit is for those doing business. The limit of money that can be borrowed from line of credit is much more than that of credit card. 

  • Time saver

Once, you done with the paper work and you get approval. You then don’t need to apply again and again like business loan. 

In loan, every time you borrow money you have to give proper document each time for approval. However, in line of credit it is a one time process.

You can borrow money with out wasting much time from bank with the help of line of credit. This can save you time as well as your business. 

Access to fund is much easier in line of credit.

  • Flexibility

You can borrow any amount of money, till the borrow limit any time. Line of credit provides flexibility which is a most important feature of it. 

And, you only need to pay interest on the borrowed money not on the total limit.

In loan, you need to pay for the whole amount. But in line of credit you can take limited amount and pay interest on that only.

  • Security

In business, you can’t say when there will be the need of money. It gets difficult to manage money during that time there is need. If you have line of credit, you can borrow money without hesitation of another loan or borrowing from others. 

This provides security to the business man and promotes business man to take bold decision. You can use this line of credit to grow your business.

In case of emergency, you can use this funds and solve the problem immediately. Thus, this keep a peace of mind for the business owner and its improves the living of the people. 

  • Low rate of interest

The rate of interest is not fixed for everyone, its varies from business to business. Your rate of interest depend on your credit history, your business performance and the bank you are dealing with. Rates of interest can be low as 6% or 10% depends on your business performance and your bank. 

If you can manage to get line of credit at low rates as possible, you can borrow money at very low interest. Also, you need to pay interest on the borrowed money only, so generally the interest is low if you manages to get line of credit at low rates.

The rate of interest is more for the unsecured LOCs.

  • Funding

The start-up growing up, can take the help of the fund raised from the LOCs. There are both secured and unsecured LOCs available. This will help the potential start-ups to grow if the start-up failed to arrange funding. 

However, unsecured line of credit is difficult to get approval. 

Investing Is All About Hit and Trial

China is growing speedily to be the future world power after surpassing the United States and other potential competitors. It has achieved a lot in a little time and its stock market has played a significant role in this establishment. Economic sectors in China have put in their best efforts to attain a sustainable and renowned position. These efforts include non-stop trading. The import and export of goods have helped in expanding the Chinese currency in the world. And that, in turn, has positively affected its value. People have started invested in China with the help of China funds.

Why invest?

Investing in any economy requires courage as it is not easy to risk your money or other assets. Stock-exchange is like a roller-coaster. One minute down, the next minute up. But this slight increase or decrease influences the individual investments on a larger scale and, hence, it is a risky process. Knowing all of it, people still tend to invest frequently in and out of their native stock markets. This is because if they hit bulls’ eyes, the profit is worth the risk. Also, constant investments benefit the currency you are using to buy or sell stocks in one way or another.

Mutual Funds

Mutual funds are the product of the contemporary egalitarian movement. It has not only simplified the processes of the stock exchange but has also made it manageable. It is a vector or a transport through which all of the investors’ assets, involved in linked investments like stocks and bonds, are piled up and collected. Mutual funds make transport feasible as the currency exchange of a specific fund is easier in the home country as well as abroad. It is easier to communicate using mutual funds and the investment is secured. These funds are, conclusively, the investors’ money and assets used to buy certain stocks. Income is generated from the stock exchange and each investor is individually benefitted.

Mutual funds are available in many types and these largely depend upon the type of investment you want to make. Eurodollar, china funds and many other such currencies help the investors to get large profit claims. All of these are controlled by a manager who deals with the buying and selling of stocks when the time is right. After you have invested, the manager awaits the right opportunity and buys a stock. This is mostly done when the rates are low. And then, as the exchange rates alter, the stocks are sold and the profit is distributed among the investors.

Conclusion

Being a part of the world’s leading economy is the ultimate goal of any investor. And to stay in the mainstream, frequent trade is necessary. China, currently, seems to have the potential needed to be the next big deal and, therefore, businessmen, stockholders, and investors are rushing towards it. Nonetheless, it is wise and safe to say that even if China has the caliber of being the best, it somehow collapses in some of the elemental economic exchange.

Will Cryptocurrencies Affect The Gambling Industry?

Cryptocurrency seems to be a buzzword these days. Many people have heard of this term in the media, but a lot of people are still not sure what a cryptocurrency actually is.

Bitcoin is still the most talked-about of them all, even though it was the very first registered cryptocurrency that dates back to 2008.  Now there are many other cryptocurrencies that have joined this recent phenomenon.

 What Is A Cryptocurrency? 

Cryptocurrency is actually a currency that is already being used to pay for goods and services online like regular cash. The difference here is that the currency has no physical form and exists only as a digital entity. These digital transactions work by using a technology called a blockchain. This is software that is present in a network of computers and it manages and records crypto transactions.

Each one is chained together in such a way, that it makes any attempt to tamper with these recordings impossible, thus preventing fraudulent activity. Therefore blockchain technology helps to keep transactions secure. Most people have heard of bitcoin but it is thought that there are more than 2200 different cryptocurrencies that are traded publicly.

The total value of all cryptocurrencies stood at around $246 billion last year. Bitcoins still proved the most popular of the digital currency and were valued at $136 billion. The popularity of this hi-tech currency can be attributed to security. As already mentioned, transactions are more secure than those involving regular cash.

Furthermore, this currency removes the power from the banks allowing a more decentralized control of people’s money and this fact has proved very popular with consumers and traders. It’s hard to tell if these cryptocurrencies are the future, as a currency needs stability to survive. Bitcoin has been anything but stable since being introduced and the value of this cryptocurrency dropped to a record low in 2018.

Some cryptocurrencies can be purchased with U.S dollars whilst others actually need to be brought using a pre-existing cryptocurrency. An app is also needed that has a wallet that can hold your currency and then you need to join a trading exchange.      

Cryptocurrencies and Gambling

The gambling industry always seems to be one step ahead of the rest. It embraces change and reinvents itself when needed.

There will always be gambling in society whether the industry copes with change or not. But the fact that it is quick to spot technological trends like the internet and apply its products to these new creations means that it is more successful than ever before. However, the huge success of online gambling has had winners and losers within the industry itself. The hands-down champion of online gambling is the slot machines.

Revenue in the UK alone was approaching the £2 billion mark from these games. Losers were betting offices and traditional over the counter betting that showed a decline. The gambling industry now has one eye on the ever-evolving cryptocurrency trend, but its response to it is cautious.

 

Should it be embraced like the internet revolution? The problem is that these currencies are far from stable right now. Bitcoin had a period of rapid growth before it tanked in 2018 and governments have stood up and noted that cryptocurrencies are no passing trend.

Therefore, they are likely to face some sort of crackdown or strict regulation that could throttle their development and popularity. However, some sectors of the gambling industry have taken the plunge and welcomed cryptocurrencies.

A major draw to online gambling is the anonymity of the entire experience and bitcoin funded casinos only enhance this further. Of course, you will by law still have to register and get fully age verified at a casino that accepts cryptocurrencies, but payments are more secure and leave no bank trace.

Therefore you will not have to include your bank and card details if you want to deposit and play at one of these establishments. This is an attractive proposition to punters and would make cryptocurrency casinos very popular with the general public across the world.

A cryptocurrency casino would have fewer overheads to pay as expenses such as payments to merchants, transaction costs and licensing fees would be drastically reduced. This could have a knock-on effect on the  ‘house edge’ that casinos have over punters. With fewer overheads to pay, cryptocurrency casinos would be able to give more back to the betting public.

Cryptocurrency casinos are in their infancy but they already offer advantages to both customers and the casino itself. The main effect on the gambling industry from a cryptocurrency perspective would be to increase security and anonymity. These two factors appeal highly to consumers and would likely increase customer numbers.

However, all slots sites, like, Wizard Slots, and other game sites like, 32red etc will need to be modernized to accept cryptocurrency payments. 

An uncertain Future

Although the early signs are positive and prove that cryptocurrencies and gambling are a partnership that would work, government regulation seems to be the main stumbling block to their progress.

Some governments are already considering banning gambling with cryptocurrencies and this trend would drastically reduce the market. Other authorities do not even consider cryptocurrency an official form of legal tender. Even though the future is uncertain due to over-regulation and instability, the gambling industry is ready to cautiously welcome cryptocurrencies.

Some online casinos already accept these as payment without any problems. Now the gambling industry must sit and wait to see whether governments and world authorities follow suit. If this currency is accepted into the mainstream then it will be embraced by all of the gambling industry even though strict regulations will be applied across the globe.

This has already commenced as the EU set up an Anti Money Laundering directive that has cryptocurrencies firmly on its hit list. For the very first time crypto service providers such as virtual-flat exchanges and wallet providers will be under the scrutiny of financial regulatory bodies. Can cryptocurrencies thrive and enhance the gambling industry’s popularity further still? Only time will tell whether the two will be allowed to form a firm partnership.

How to Manage Your Small Business’s Finances

To run a small business, you need to have a few overarching qualities and components. You must have a great idea, exceptional service, and organizational skills. 

However, none of those qualities matter if you can’t manage your finances. Even the best ideas fizzle if the underlying money management isn’t in place.

Here are some helpful pieces of advice from business owners about how to manage your small business finances.

Check Your Credit Score Frequently

 

Establishing credit as a business is paramount to scaling your business in the future. To do this, you have to know what’s happening with your credit score. 

Set aside time to check your credit score regularly. This process will allow you to see how you’re trending, and if there are any outstanding issues to deal with. If you find that you have items on your credit score to dispute, try this to get rid of them and improve your report. 

 

Implement a Money Management System

 

Create a standard procedure for how you deal with the money that comes into your business by implementing a money management system. 

This could be percentage-based, having a set percent allocated to various aspects of your business. You could use a Profit First model that ensures the business owner is always getting paid.  

One of the most sustainable starting points for implementing a money management system is the jar or envelope approach, in which separate accounts are used for the various expenses and investments within a business. This practical approach is an exceptional starting point for new business owners until they find their footing.

Create a Standard Procedure for Billing

 

Invoicing and billing your clients is the only way you’ll get money into your business; it’s one of the most important clerical tasks. However, it tends to get pushed off. A day or two here might not seem like a big deal, but when you add it up over the year, you might find a multiple week span for which you should have had cash flow.

Create set dates and times or practices for invoicing your customers. This could consist of weekly batching or dedicated time on the first day of each month. By putting procedures in place, invoicing becomes a habit, and, by default, you’ll get paid faster.

It’s also wise to set procedures for when someone defaults on their payment. Identify who will be following up, the script to follow, and what measures should be taken from there.

Use Projections and Forecasts

 

Setting projections of what might happen may seem superfluous, but it’s an effective way to plan for high and low seasons. During the first year of the business, this process can be arbitrary and hard to pin down. After that, however, historical data can provide a lot of insights about the future of your business.

For example, preparing for seasonality in your business. If you own a restaurant, your numbers might indicate that the summer and weeks leading up to the holidays are the busiest. January through March is slow. By having this information available, you’ll be able to scale your staffing and food purchases to meet demand and spend or save accordingly.

Monitor Your Expenses

 

Creeping expenses are a silent killer for small businesses. Doing your taxes at the end of the year is not the time to discover that your expenses are out of control. 

Set aside time each month to audit the money that’s going out of the company and why. Make smart cuts on your spending to increase your margins. For example, sometimes it behooves you to have feet on the ground at a satellite office or with a client. However, many meetings could be conducted via video conferencing. 

Look at your expenses and consider how you can cut back and stay frugal without becoming cheap.

Stay Organized and Prepared

 

One of the simplest yet most effective things you can do to manage your money with a small business is to stay organized. That way, when tax season rolls around, you’ll be ready to get the most out of your return.

By practicing these smart money management habits, your small business will thrive.