How to Handle a Financial Emergency: 5 Possible Options

Half of all Americans experience a financial emergency every year. You may be among them.

A financial emergency can range from an unexpected medical bill to an expensive car repair to a leaking roof. There isn’t a specific amount that constitutes a financial emergency either.

An unexpected expense that one person can cover easily may leave someone else financially destitute. We’ll explore five options to help you deal with a financial crisis.

1. Review Your Income And Expenses

This may seem obvious, but too many people skip this step and panic. This is not the time to make emotional decisions. Don’t underestimate the problem, but don’t overestimate it either.

Make a list of every expense you have. Include regular expenses like your rent or mortgage payment, utilities, cell phone, internet, and car payments.

Remember to include recurring expenses, even if you don’t pay them monthly. For example, you may pay your car insurance every six months. Figure out what that is per month.

Then, add up your monthly income and see what’s left over to cover at least part of that unexpected expense.

2. Reduce Expenses to Address a Financial Emergency

Look at the list you just made and see if you can cut anywhere temporarily. Can you live without cable for a month or two? Can you reduce your electric bill at all by opening a window instead of running the air conditioning?

If you’re paying a lot for car insurance, shop around for a better rate. An hour or two on the phone could cut your premium in half.

3. Negotiate Your Bills

Don’t stop with your car insurance. Get on the phone with your creditors and explain the situation. In some cases, you might be able to defer a payment or two to free up the money to cover your unexpected expense.

79 million Americans have medical expenses they can’t pay for. If a sudden medical problem has left you with a huge bill, contact the provider immediately. The provider may help you set up a payment plan that won’t bankrupt you.

4. Increase Your Income

Consider taking on a second job temporarily to bring in more money. If you have the equipment, you might earn a little extra mowing lawns. If you’re good with numbers, you could make money doing taxes or helping a startup with its business plan.

57 million Americans work freelance jobs. If you can use what you have now, you might be able to cover your financial emergency with a freelance job or two.

5. Take Out a Loan

Taking on debt to address a financial crisis isn’t ideal, but it may be your only option. If you can put that sudden expense on a credit card, you can buy yourself time to pay it off. Ask your credit card company for a lower rate, too.

If you own your home and your credit is good, you might consider a home equity loan. Talk with your bank about your options.

You can also find short-term loans to deal with the financial crisis you face. Just be careful to work with a reputable company. Check out the feedback from other customers like these Rightway Funding Yelp reviews.

Start Building an Emergency Fund

Once you’ve dealt with your current financial emergency, make a plan to build up a rainy-day fund. Save a portion of your income every month until you have enough to cover your expenses for at least three months.

Check out our blog for more articles about personal finance issues.

7 Small Business Tips To Help You Grow In 2020

2020 has been a whirlwind of a year that has resulted in over 100,000 small businesses going out of business. We do not want to see that happen to you!

We have put together 6 essential small business tips to keep your business strong and growing in these uncertain times. So, before you waste another second…Let’s get started!

1. Know Your Customer Base

Do you want your product or service to sell, sell, sell? If so, it is time to get to know your customers like never before. Even the greatest product can struggle to find its footing if it does not translate to the consumer.

Do your research about the area by researching demographics, trends, competing businesses, etc. Feedback is your best friend…no matter how brutally honest it might be! Give your customers a platform to give you honest feedback so that you can adapt to their needs and preferences.

2. Utilize Social Media

Facebook alone has over 2.5 billion uses, and if you include other venues such as Instagram, Twitter, or TikTok those numbers only get higher. Engaging content on your social media accounts keeps regular customers up to date and attracts potential consumers.

Stay on top of comments and conversations among your guests. Look for what is working and what could use improvement. Don’t forget to post content regularly to keep engagement high.

3. Networking

Networking is small business 101, however, in the social media age face to face interactions are becoming limited. Face to face connections can generate a sense of trust and friendship with those who you wish to do business with.

Build relationships with other local small businesses in your community niche. Find ways to help benefit each other so that in the long run everyone succeeds. If there is ever a networking opportunity or convention near you take it!

4. Customer Service is Crucial

Feedback happens immediately with online review apps and social media. If a customer feels that they have had a less than ideal experience with your business they will let the internet know.

Negative reviews and bad community feedback can crush a small business. Keep your employee’s customer-focused above all else. Encourage regular meetings to discuss how to improve customer experience.

5. Time Is Money

89% of employees waste time…your time. Time theft is an ethical issue that doesn’t get addressed as much as it should in the small business community. Creating a culture among your staff that promotes a desire to give their best is important for you as a business owner.

Consider utilizing a time clock app to promote accountability within the staff without feeling like you are overbearing. At the end of the day work needs to be done efficiently and with money on the mind. If you find that your labor is high consider reworking schedules to eliminate excessive people on the clock during slow hours.

6. Bank Appropriately

Private banks for small businesses is the best route when it comes to managing the financials of your business. With private banks, you have a direct line on assistance. Additionally, you will be valued as private banks offer very personal banking experiences.

7. The Best Small Business Tips

These 7 small business tips can make all the difference is the sustainability of your business. Keep focused on the goal during these hard times and you will succeed!

We want to connect with you even further! If you are ready to learn more about all things finance check out the rest of our page today.

What Are the Pros and Cons of Buying Gold Coins?

Buying gold has been a traditional way to invest money for years. It’s an easy way to see your investment whether you keep it at home, in a bank vault, or in a storage facility.

But today, investing in the stock market is more common. Why is that? What are the advantages and downsides of investing in gold?

Keep reading for a full breakdown of the pros and cons of buying gold.

Pros:

If you’re never bought gold before, you may be surprised to know the number of benefits that come along with investing in it. Here are four of them.

Simplicity

If you’ve ever looked into investing in the stock market, you know how confusing it can be. There is so much stock to choose from, and people make careers off of trying to help you invest in the right choice. Contrarily, investing in gold is straightforward.

You can buy gold from dealers across the country, in the form of coins, bullion bars, or jewelry. You can then store it in a deposit box in the bank. As you accumulate more gold, you can use more boxes, adding layers of protection.

Although you do need to pay attention to how the price of gold is doing, you won’t need to check the stock market 3x a day. Gold presents a simple and easy to understand option when compared with stock.

Gold Is a Safe Investment

If the idea of investing in the stock market seems too uncertain, know that gold is a reliable investment. The price of gold is always rising, and while fluctuations may occur, they generally go back up.

There is also less of a relationship between how the economy is doing and the price of gold. Oftentimes, as the economy plummets, people choose to invest in gold. This further increases its value.

If you’re the slow but steady kind of investor, investing in gold could be a wise decision.

Lower Rates of Inflation

One economic reality is that the value of the money in our bank accounts slowly decreases. For example, the average price of a new house in 1990 was $150,000. Then 20 years later in 2010, it was $220,000.

On the other hand, if you look at the value of gold over a period of years, it generally remains the same. In fact, the rise in the price of gold is greater than the increasing inflation rates.

Gold maintains its purchasing power over time while the dollar loses it.

Protection Against Market Turbulence

If your investments are in bonds, stocks, and mutual funds, a market crash could devastate your portfolio. Most people cannot predict when these events will occur, as outside influences are the causes.

Yet physical investments provide you with security against these sorts of fluctuations. By investing your money in gold, you are providing yourself with a safety net. This can help protect you against a future market crash or global recession.

The world is experiencing another severe economic slump on account of COVID-19. If you’re ready to be protected against the uncertainties of the global stock market, it might be a good idea to buy gold today.

Cons:

Although there are more benefits to buying gold than negatives, you should still be aware of a few potential downsides. Let’s take a look at three of them.

Liquidity

Gold can be a great investment for the long-term. Yet in the short-term, it can be more difficult to see results.

When you buy gold, you buy it from a dealer. This means that you are paying more than what the market price is at the moment. Selling gold and getting a return on your investment requires the same thing. Dealers often pay less than the market price as they view the purchase as a commission.

If you’re in a hurry to sell gold, you may have to accept the fact that you’ll make less in return than the market rate. For this reason, don’t put all of your investments into gold. Around 10-20% can be a good place to start.

Slow Gains During Periods of Market Stability

One of the pitfalls of the stock market is unpredictability. You can suddenly lose a lot of money if the market crashes. Yet as the potential for reward increases with risk, you can also make a lot of profit.

Gold is a stable investment but doesn’t offer the option of immediate gain that the stock market does. When investors feel the current economic climate is stable, they will buy gold. This can drive down the value of it.

This doesn’t mean you’ll lose money over a 10 or 20 year period. But it does mean that you won’t get the huge profit you can sometimes expect with other investments.

Subject to Politics

Whenever you invest in something, the political situation of the world can impact it. This is also the case with gold.

In some regions of the world, gold mining is a lucrative process. If there is political turbulence in that region, it can then affect the price of gold.

There can also be fears that a government or national bank will sell its gold supply, which can lead some people to believe the price of gold will plummet.

But it’s important to remember that price fluctuations are present regardless of which investment form you choose. Keep in mind that changes in the value of gold are temporary. As history has demonstrated, the prices always even out and continue to grow higher.

Be Aware of the Pros and Cons When Buying Gold

If you’re looking at buying gold, understanding these pros and cons can help you decide if it’s a sound investment to make. Remember that buying gold may not yield you results in the short-term, but it’s a safe investment that will steadily increase with time.

Do you think it’s a good idea to buy gold? Let us know!

Check out some of our other articles to learn more about finance and investment.

Is It Better to Let Your LLC Be Taxed as a C-Corp?

LLCs are a relatively new phenomenon in the U.S. They carry with them several advantages, not the least of which is the way they are taxed. Under certain conditions, however, it may be beneficial for an LLC to be taxed as a C-Corp. This depends primarily on the business as well as how it gets capital.

The IRS will not allow an LLC to be treated as a C-Corp unless its status is changed to a C-Corp, but it can file its taxes as a C-Corp. CPA firms can help to accomplish this filing, but this article will give you some general guidelines.

Taxing an LLC as a C-Corp

A company and its owners can save money on their taxes by filing as a C-Corp instead of as a partnership or a sole proprietorship. A single-owner LLC does this by filing a Schedule C. In the case of a multi-owner LLC, this is done by the business using Form 1065, and each owner filing a Schedule K-1.

There are several conditions under which a firm can be taxed as a corporation, but owners should make sure their CPA is aware of the limitations. It is also essential to understand that this is applicable for tax purposes only.

Reasons to Choose C-Corp Taxation

Many pension funds invest in venture capital. The trouble with an LLC being taxed as a C-Corp is that members of LLCs are employees of the firm, which is not allowed under IRS regulations. If the goal of the LLC is to raise capital funds, it should reform as a C-Corp.

Even an LLC that is taxed as a partnership should be a C-Corp since members are partners in the firm. For this, the partners will receive a K-1, not a W2. Making these changes can take time, depending on how complex the business is.

Owners of a C-Corp don’t have many of the limitations of an LLC that is filing taxes as a C-Corp, but it can be worth the trouble of becoming a C-Corp in certain circumstances. Again, a CPA would be the best resource to help a taxpayer make that determination.

Making Things Simple

The good news in all this is that if the owner(s) of an LLC decide that they want to be taxed as a C-Corp, all that needs to be done is to file a Form 8832. This will allow an LLC to be taxed as a C-Corp. If you are an employee of a C-Corp, the IRS will consider you an employee and an owner. This will allow you to treat any compensation received as a wage instead of a dividend. This keeps the government from taxing the payer twice, as both an employee and an owner.

Any reasonable business owner is always looking for ways to make more money and cut the amount they pay in taxes. If the pros of becoming a C-Corp outweigh the problems involved in changing their business structure (besides the hassles of becoming a C-Corp), it might be worth the trouble to become a C-Corp, if only for tax purposes.

Again, the best person to help you determine whether it is in your best interests to change from being an LLC, as opposed to a C-Corp, is a CPA. Consulting with a CPA costs money, of course, but the advice they give to deal with the intricacies these business structures will be worth the money in both the short and long run. It’s money well spent.

Finding a Trustworthy Mortgage Broker in Vancouver British Columbia

Searching for the right home can be both exacting and exhausting. Tons of possible options showing their pros and cons and leaving you with what seems an impossible decision to make! Despite all the hesitation to choose between homes, you will have to overcome maybe the hardest part.

In this situation, you will need the right person to carry out the hardest part of the job.

The middleman who will broker mortgage loans on your behalf is called a mortgage broker. To find a reliable mortgage professional, you will have to do some research to discover some of the main qualities a good broker possesses.

The mortgage broker’s responsibilities are thorough research and gathering proper information. Click on the following link to find more on this topic https://www.businessinsider.com/personal-finance/mortgage-broker.

 

Benefits of having a mortgage broker

You might ask yourself what advantages do I have of paying someone to do the job I can. Although it seems like an easy job to do, you should ask yourself how much you know about the mortgage jargon. This article will guide you through the process of deciding whether or not you need a professional for the job.

 

You will probably spend more money on your own

The process of researching and doing all the jobs on your own may potentially leave you with higher costs and dissatisfying results. Finding the loan that you are dreaming of is definitely a task professional can do. Read more here.

 

Saving time

Do you have the time to learn everything you need? Saving time is a great reason to hire someone and be able to spend your day on something else. And if you do have the time, you will have to research for months to get in contact with various lenders. Some of the lenders work exclusively with brokers and loan officers, therefore leaving you at a dead-end street.

 

A better choice than loan officers 

While a loan officer, who works in a bank, can give you programs that are solely coming from one institution, a mortgage broker works on your behalf and has a broader network of possibilities.

Loan officers can drag you for an extended period because they work with many clients at the same time. A broker mainly works with fewer clients and gets paid off when the deal is closed. This means more dedication and faster work done.

If you happen to live in Canada, you will enjoy a wide variety of options for professionals in this field. You will find honest, fast, and professional advice at mortgage brokers Vancouver BC, Burnaby, Surrey, Delta, etc. 

 

Deciding your price cap 

Last but not least. If you find the right middleman for you, consider making a list of your financial information. Data like employment documentation, income, credit report, and assets will help the broker find potential lenders.

Whether you are looking for refinancing for doing your home renovation or are a first-time homebuyer, focusing on professionals will give you a sense of security. Make sure you do your research and find the person who will be your consultant, agent, and broker all in one. This way, you can set your goals and start working to achieve them. Click on the link for more https://www.ratehub.ca/blog/pros-and-cons-and-using-a-mortgage-broker/.

 

Diverse market 

Knowing your options and possibilities is a crucial part of the entire process of buying a new home. Professional broker Is following the market changes and pays close attention to lenders and their options. Diversity of lenders and loans and flexibility of your budget profile is one of the top advantages when working with a mortgage broker.

 

Gathering information

That said, you will need to focus on finding the person who has wide access to good lenders. Online browsing can help you gather the information you need. Asking for recommendations and references from close people will surely make an impact on your final decision. Read more here

An experienced broker works on different grounds and estimates the most suitable loan for you. Finding the perfect home may cost you a few bucks more. The ideal broker can lower your rates and fees by finding a lender willing to offer you the best mortgage.

How to Sell Gold and Silver: A Look At Silver and Gold Prices in Today’s Market

Want to find out today’s silver and gold prices?

Gold and silver are among the best investments because they beat out most other options. Gold even beats bitcoin, despite market experts predicting bitcoin’s success. While they are great long-term investments, it’s still a bad idea to hold on to an investment for too long.

It also applies to silver as they’re near identical in qualities as investment options. The moment the current gold price reaches a good value, it’s a good idea to sell them to get the most out of your investment. How do you go about selling your gold and silver, though?

Read on to learn how you can sell your gold and silver. Use these tips to trade them in for other precious metals today.

Is Your Gold a Bullion or a Collectible?

Knowing if your gold is bullion or a collectible product helps you get a fair price for your trade.

Bullion is the bulk form of the metal. Most buyers measure bullions by weight to know the price of a chunk of metal. This means that if you have a heavier and bigger chunk, you can sell it for more.

Bullions also come in different forms. The most popular form is the bar that you see vary in size and length. This is what investors use as a basis for the price of gold and silver in the market.

They also come in a raw coin form. These are the coins that have a higher value than any collectible coin around thanks to the history behind it. Among these coins are the American Eagle and Buffalo coins, and the Australian Kookaburra coins.

Collectibles are, by their name, gold and silver pieces that people collect as a hobby or for other reasons. As you have guessed, most people collect them as investments, as well. These are more popular than bullions because it’s easier to get a hold of them.

Coins are among the collectibles that people have access to. What sets them apart from bullion coins is that they are much rarer. Since most collectible coins are common, these rarer coins are the only way you can make a profit from your investment.

Know Your Gold

Knowing your gold and silver also helps you know how much it’s worth. This means knowing the basic background of your gold. This includes knowing whether your metals are private or sovereign mints.

Sovereign mints are one that the government recognized as legal tender somewhere in history. These are more valuable now as a result of their historical value. Most buyers will set a high bid price for any sovereign mints.

Private mints are the opposite of sovereign ones. They have no value in the market beyond the metals that they contain. They can have a higher value if the producer made a limited number of these mints.

Only avid collectors can find more value in these mints. If you find one interested in your mints, keep them as a potential buyer if prices surge.

Your metal being in a bar or coin form also matters. Bars often sell for more because it has more gold or silver content in them.

Coins are only better than bars in certain situations. If the buyer is looking for coins to complete his collection, or if they can only afford gold or silver worth a specific value.

Know the Right Time to Sell Based on Silver and Gold Prices

Knowing when to sell is trickier than you think. You never know if the next spike in prices will be higher than now. This often happens to most investors when they see that the prices are the highest they can be.

Next thing they know, it’s only a week after they sell their stock that the prices are even higher. This is a good reason for you to wait even if gold prices are the highest they’ve ever been.

A good way to predict their rise or fall in price is to look at their history in the market. Gold has had a history of having more downs than ups. When their prices spike, though, it’s high enough to encourage people to sell their stock.

When it comes to silver, their prices are consistent. There are only some times where it dips below the average. It goes higher than the average more often than it goes below, though.

Their prices continue to rise, though, despite their dips. It’s a good reason to look for their averages before you think of selling your stock.

Find a Buyer You Can Trust

If you’re not into looking at the prices yourself, it’s a good idea to have a partner you can trust. This can even be your buyer if you trust them to give you a fair price. You can find one such partner by knowing what you need to look for.

You will want a buyer with experience in stocks and long-standing investments. One that has in-depth knowledge about the gold and silver prices is what you want in a buyer.

You also want to involve yourself with legitimate buyers. While it won’t give you any issues in the beginning, illegitimate buyers can cause inconveniences to you along the line.

How Your Portfolio Looks After Selling Your Gold and Silver

Will your portfolio look good after you sell your stock? A good and clean portfolio full of promising investments is a sign of a good investor. Having an empty portfolio means that you’re not increasing your net worth.

Expanding your portfolio is the best way to have increasing investments. This means that even if you sell your stock in gold and silver, you will still have growing investments.

Learn How You Can Sell Your Silver and Gold for Maximum Profit Today

If you want to know how to sell your gold and silver stock, you must know when and how to sell. Use this guide to help you succeed in your investments! Check the gold prices and sell your stock like a professional today!

Want to learn how to sell gold? Check out our other market guides to learn more about selling and buying gold or silver today!

5 Basics That’ll Set You off on Your Path to Financial Freedom

Stress levels vary from person to person. Surprisingly, money can be a popular source of it. However, it doesn’t have to be.

With a little creativity and determination, you can make a money plan that works well for you.

Here are 5 basic principles that will set you on a path to achieving financial freedom.

1. Make a Budget

Making a budget is one of the best ways to achieve financial freedom because it guarantees that you know where every dollar goes.

It also creates a sense of predictability and consistency (something very much desired in these pandemic times).

With a budget, you decide where your earnings go. This helps you to have confidence in your purchasing decisions because you already budgeted for it.

Cultivating a plan that works helps you to meet monthly bill payments.

If you end up not breaking even, a written budget plan shows you this in advance. This gives you time to create other income streams (such as a yard sale) in enough time.

2. Make Wise Choices

Often, society puts on the pressure that you must have the latest and greatest whether it’s a shiny new car or new designer purse.

While new things are great, make sure your purchases are setting yourself up for financial freedom.

Credit cards and payday loans come with extremely high compounding interest-rates and keeping you from getting what you want long-term.

If you need to finance a necessary purchase, infinite banking is a much better strategy than traditional financing.

3. Plan for Emergencies

Having an emergency fund is key to keeping your budget on track. Large and sudden expenses can interrupt your cash flow and destroy your budget.

However, with proper planning, you can help set yourself up for less stress.

When building up an emergency fund, it is always better to overestimate than underestimate. Make sure you save up the amount you need so you can stay financially free.

4. Use Your Current Resources

There are lots of ways to enhance your cash flow potential. For example, if you have a phone overflowing with quality pictures, then stock photography can be a great source of passive income.

If you have items that you don’t need or use, then you can easily sell them online.

5. Be Creative

Creativity is key to being financially free. When you learn to be creative, you don’t just accept an obstacle. Rather, you funny unique way around it.

Having problem-solving skills can help you find a way around roadblocks to your budget and help you to be more innovative in your financial planning.

Achieving Financial Freedom

Achieving financial freedom is a challenge, but aren’t all the best things? Just like a marathon runner, keep persevering for the long-term.

Make sure to use consider these tips for your financial strategy. Financial freedom is worth the effort.

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High-interest Rate Savings Accounts

Shopping for commodities, paying education fees, arranging household necessities, or buying luxury items; you need money to buy anything at all. Having a constant and regular stream of income is a necessity more than wishful thinking these days. The uncertainty of the job market, rising inflation rates, and an economic slump will all affect your expenditure budgets. As an individual, either as a retired employee or as a house leader, you’ll want to put your money securely in an investment account that assures you a regular monthly income. Many banks and financial institutions offer monthly profit rates for the contemporary savings accounts, CD’s (Certificates of Deposits), and money market accounts. A typical US bank offers merely a 0.05% on a Savings account with no checkbook or other facilities. That’s just $5 of profit per annum for you on every $1,000 of your investment with the bank. The Special Fixed-rate or so-called “high yield” bank accounts on average offer you a cumulative profit rate of up to 1.30%. That translates to a mere $13 for every $1,000 investment, Good luck with that!

The banks and financial institutes make money with investors’ cash deposits, as recently as in April 2020; banks in the US reported a profit rate of up to 32%. What’s in that for you as an investor if you’re getting an effective rate of 1.30% only? The very concepts of traditional banking investments and money market accounts are obsolete now. The Fintech firms investing in high performing industries thus earning much more profits than traditional banks are the best alternatives for you as an investor. One of such modernly equipped platform for your investments is einvestment. The Fintech firm einvestment doesn’t only have a portfolio of great investments like Artificial intelligence, Cryptocurrency, and Eco-Friendly green investments but also pays high yield monthly profits to the investors too.

Einvestment last month’s profit rates reached to 3.97%, and that’s the monthly profit rate for you disbursed every month. The annual compound rate of profits for einvestment currently stands at 30% (on average). The most significant feature of profit returns with einvestment is its monthly disbursement of profits. The average highest yield on investments reached a whopping 9.71% on a monthly basis. So how does einvestment get such high profits? The answer to the question is a two-part equation. The first part comes with a highly dedicated and skilled team of einvestment. That is led by the industry leaders like Peter Derksen (Head of Division with 21 years of experience) and Jakub Novak (Lead Portfolio Manager with 17 years of experience). Financial management is all about risk management; a skillful and experienced team like ours can manage such a diversified investment portfolio. The second part of the equation comes from the fact of choosing the right stocks i.e. the high performing industries that are going to perform well in the near future. At a glance, take a look at the portfolio mix of the einvestment that includes high performing tech-based industries such as Artificial intelligence, Live Streaming, Cryptocurrency, and robotics and automation. If that’s not enough for you, then take a close look at the extra high yield investment options here. These high-risk, high-yield investments have recently returned profit rates of up to 14.13% as recently as in April, 2020.

Einvestment is part of the Gulliver group of companies based in Lisbon, Portugal since 2015. The Gulliver group is a proud sponsor and partner of one of the leading football clubs in Lisbon; the Sporting Club Portugal. The group has also been an active donor to the world charities throughout these years. Einvestment is a licensed and regulated firm in George Town, Cayman Islands since 2018. To serve you conveniently we have a regional headquarters in Lisbon, Portugal for all our EU customers. We welcome both individual and corporate investors from all around the world, but due to a current policy change, we are not accepting the US-based customers for the time being. We have a simple 05 steps online, paperless, and convenient account opening process that you can start here.

Are brick and mortar casinos likely to go extinct in the next 20 years?

The human race has been experiencing a period of great and very profound flux over the last few decades, and it is mainly down to something that we like to call the Internet. It can be very easy to forget how young the Internet actually is, because it really has completely changed the way we lead our lives. Just take the casino industry, for instance, which has grown exponentially because of the possibility of a phone casino

In fact, there are way more people gambling online these days compared to in brick and mortar casinos, and some analysts actually predict that brick and mortar casinos could go completely extinct in the next 20 years. There are various angles on this debate to be had, however, so read ahead for a lowdown.  

Yes: The online casino industry is becoming too big 

One thing that really is difficult to deny is the fact that the online casino industry is becoming well and truly gargantuan, and it really would not be a surprise if it eventually swallowed its land-based cousin. Just think about the amount of online slots on the market these days alone, it’s crazy! 

And with the increase in things like live casino gamblers are increasingly able to get the hands on gambling experience from home, something that could spell the end of brick and mortar casinos. 

No: You still cannot beat the feeling of entering a brick and mortar casino 

For all the technological advances in the field of online casino it is still incredibly hard to beat the feeling of entering a genuine brick and mortar casino, especially ones in gambling hot spots such as Macau, Las Vegas or Monte Carlo. Casinos have always been incredibly decadent places, and it is pretty much impossible to replicate this atmosphere in its entirety online. 

In fact, many online casinos actually end up looking quite tacky in the modern world, so we don’t think gamblers will ever stop craving the class and sophistication of a proper land-based casino. 

Yes: VR technology could change everything 

The thing about technology, however, is we never know what is possible until it happens, and this has been a recurring theme throughout human existence. Take VR technology, for instance, something that could blow the casino market wide open. The premise of this is that gamblers can enter a virtual reality that can be modelled after any casino in the world, or even a fully customizable original design. 

With this level of control it is difficult to imagine people ever going to a brick and mortar casino based in true reality again, isn’t it? However, virtual reality technology still isn’t anywhere near being this good on a commercial scale, and that is the main thing that is holding it back at the moment. Many top gambling analysts do predict that virtual reality casinos will be so good in 20 years that there won’t be many land based casinos left.

Estate Planning 101: What Should Be in Your Estate Plan?

Did you know that only 18% of Americans above 55 years have the right legacy plan essentials?

Contrary to common belief, estate planning goes beyond having a will. It would be best if you had a durable power of attorney and a healthcare directive. These essentials will ensure that your wishes will be granted upon your demise.

Estate planning isn’t a reserve for the tycoons. If you’re above 18 years, you’re a potential candidate for estate planning.

So, what should you have in your estate plan? Here is a guide on estate planning 101 that will give you adequate headway as you consider your planning your estate.

1. Durable Power of Attorney

A durable power of attorney is an indispensable part of real estate planning. A power of attorney ensures that you have an agent who will make decisions when incapacitated through illness or death.

Without a power of attorney, the court has the mandate to decide how to handle your assets, which might not be how you’d have wished to have your assets distributed.

The durable power of attorney is a real estate planning document that gives your agent the authority to make financial transactions, legal, and real estate decisions as if they were you.

The POA can be on a single person who will handle everything. You can also designate the POA to different individuals for various situations.

It would be best to designate trusted persons such as your older children, spouse, or siblings to be the power of attorney. Ensure that your ideal choice is a money-savvy individual who will follow your wishes to the letter. More importantly, consider backup POA as your first choice might be unwilling or unable to act.

2. Wills or Trusts

If you are part of the 68% of the Americans without a will, you’re missing one of the most crucial estates planning documents.

A will indicates how you’d want your property to be divided once you die. It further includes the appointment of a guardian, who will look after your minor children and other dependents, including pets.

Trusts almost play the same role as a will. However, a trust is somehow private as it doesn’t go through the court proceeding before it’s executed. A will goes through probate, making it a public record.

Trusts and wills need to be consistent in how you have bequeathed the assets outside your will. For instance, naming one beneficiary on an insurance policy that is out of the will and bequeathing the same to a second person in the will can prompt a will contest. Your will and trust shouldn’t be a cause of family conflict.

3. Letter of Intent

In estate planning 101, a letter of intent is among the most crucial things you can’t afford to ignore.

A letter of intent refers to a letter that you leave to your will’s executor to provide an overview of your wishes on the distribution of your assets after you die. The letter of intent also has relevant details that you’d want to be relayed during your funeral.

It would be essential to note that a letter of intent is necessary, but it’s not legally binding. As such, it shouldn’t replace a trust or a will. If anything, the letter of intent adds a personal touch to the whole process as you’ll have written it.

In a letter of intent, you’re not limited to what to include. Besides logistical wishes on asset division, you can write other emotional issues that you wish to communicate to your loved ones. You might want to emphasize the values you want them to have even after your demise.

4. Beneficiary Designations

Several of your assets can pass to your dependents, even if they are not indicated on the will. It would be best to have beneficiary designations, especially on assets that aren’t on the will. For instance, your insurance plans need a beneficiary and a contingent beneficiary since they will pass outside your will.

When planning your collection and other tangible assets, consider all your financial accounts. You need to have your beneficiary designations always updated. In case of a beneficiary’s death, remarriage, or divorce, update the designations as necessary.

You can have more than one name as beneficiaries depending on how you want to split your assets. The good thing about non-retirement accounts is that you’ll only name the person you wish to inherit the money on the transfer of death form.

A beneficiary designation is among the estate planning 101 people often forget as the financial accounts involved aren’t within a will.

5. A Living Will

When planning an estate, a living will should be a priority. A living will refer to a legal document that communicates to others what you’d prefer about end-of-life treatment. It outlines the medication procedures you would want if you’re incapacitated to the point that you can’t communicate.

A living will is different from the typical last will. The former is enacted when you’re still alive but in a terminal state or unconscious and unable to voice your medical wishes. The thought of a living will is chilling, yet it is considered crucial.

In your living will, you need to reflect on some medical scenarios;

  • What are your thoughts on donating some of your body organs after you die?

  • What are the pain management procedures or drugs you’re comfortable with?

  • Would you be comfortable with feeding tubes if incapacitated?

  • Are you pro ‘Do Not Intubate’ or ‘Do Not Resuscitate?’

  • What would you prefer if you can’t breathe independently?

Answering some of these questions will help establish a living will. A living will and the healthcare power of attorney are essential estates planning documents that will ease family conflicts over your care if you become critically ill.

Estate Planning 101 Gives You an Ideal Headway When Planning an Estate

The right estate planning guide is vital for anyone conscious about the future of their family. Planning an estate goes beyond deciding on property division upon your demise. Estate planning 101 delves deeper into estate planning documentation and the necessary preparation before you die.

Our blog focuses on personal finance. Explore further for practical tips and money advice for your small business or personal finances.

Bitcoin Terms You Must Know

Bitcoin is among the most popular cryptocurrencies in today’s modern and digital generation. It allows you to earn money in a simple manner. If you are a beginner in the bitcoin market, you must know the commonly used terms to understand the system. With this, you can learn the process and improve your bitcoin trading.

The following are some common terms in bitcoin:

  • Blockchain

Bitcoin transactions are registered in a public ledger. This public record is known as a blockchain. It has all the transactions made using bitcoin. Blockchain technology works with a global network of computers.

  • Mining

Blockchain can be monitored every 10 minutes to approve transactions. It is a process held through bitcoin mining. Bitcoin mining is conducted with a computer for doing mathematical calculations to check the transaction’s authenticity and confirm it. Miners receive bitcoins for the block of transactions they verify.

  • Block 

Block is part of the blockchain. It records recent transactions and verifies them every 10 minutes in the mining process. Blocks develop a blockchain. The written records can’t be changed.

  • Decentralization

You often hear that bitcoin is a decentralized currency. Thus, no organization or government hold the bitcoin network. Bitcoin works according to peer to peer protocol. There is no need for banks and organizations because users can directly communicate with each other.

  • Private Key

In bitcoin trading, the private key serves as your password. With it, you can spend your bitcoin in your wallet with a cryptographic signature. Take note that your private key must not be revealed to any individual.

  • Cryptography

It is the act or process of deciphering and making codes. Cryptography is Bitcoin’s foundation. Bitcoin transactions are also anonymous. Cryptography is a process wherein information is sent through encrypted format. Aside from making the transaction anonymous, it also ensures security. This technology is used in bitcoin addresses and blockchain hash functions.

  • Cold Storage

You can safely store bitcoins in a secure offline environment using a bitcoin private key. You can store bitcoin in cold storage in different ways like in paper wallet, USB drive, physical bitcoins, and another storage medium. It is the reverse of hot storage wherein you need to connect to the web for transactions.

  • Distributed Ledger

It is a system that records information that is distributed on different devices. For example, blockchain is a distributed ledger that is made to record the bitcoin transactions.

  • Public Key

It is the address wherein you can receive digital currencies. It is a combination of letters and numbers.

If you are familiar with the common terms used in bitcoin, you can learn more about bitcoin. With that, you can develop efficient strategies to improve your profits.

Improving your bitcoin profits with reliable software

If you want to earn more with your bitcoin investment, you can prefer for a reliable software like the Q profit System. It is easy to use and allows you to experience financial freedom. It comes with a powerful algorithm that can analyze and scan markets with improved speed and accuracy.

Bitcoin software like bitcoin revolution also uses enhanced technology to deliver you accurate trading. It has advanced technology and programming for a profitable bitcoin transaction. You can have easy access to bitcoin in your different devices, including mobile, computer, tablets, and more. Even more important, you can also get excellent customer support. If you have concerns about your bitcoin trading, you can always reach out with their customer service team.

Powerful software like bitcoin revolution can offer you with easy process. The first thing is you need to register. Then, you can fund your trading account. You can now enjoy the benefits of your bitcoin trading.

Virtual currency changes after the birth of Bitcoin

Bitcoin emerged during the global financial crisis. The essay, written by a person named Satoshi Naka moto, inspired the vision of Bitcoin.

The value per bitcoin started from almost zero. But now it has risen to about $6,400. To summarize the paper, Bitcoin makes it possible to directly trade with each other directly through financial institutions without using pure peer-to-peer electronic money.

Bitcoin is operated through a distributed ledger system known as a block chain.

For the first few years of its birth, Bitcoin was not widely known to the general public, only to the attention of some enthusiasts and criminals who were looking for a means of money laundering.

When the price of 1 bitcoin exceeded 1,000 dollars about 113,000 yen for the first time in 2013, people at financial institutions began to pay attention.

The initial idea of Bitcoin was to make payment easier, but many experts say that it is mainly used as a means for storing value and also as a speculative means because of its volatility. The US Securities and Exchange Commission SEC is currently considering whether to approve a listing application for Bitcoin ETF, a listed investment trust that includes Bitcoin as an investment target. If the SEC accepts the application, Bitcoin will be part of the existing financial system that it was trying to avoid.

Bitcoin uses a technology called block chain, and builds a network with an unspecified number of participants to maintain and manage information for all participants, thereby creating availability and fragmentation resistance without system interruption. In addition, since the information written on the block chain cannot be basically rewritten, the block chain has been drawing attention in recent years as a technology suitable for storing information that is difficult to falsify. These technologies allow Bitcoin to exchange value on the Internet without the intermediary of trustworthy third parties such as financial institutions. After the paper was published, the development team gathered under Satoshi Naka moto to start the development of Bitcoin. Bitcoin mining started in January 2009, and the first block (Genesis block) was generated. Initially, Bitcoin had no property value and could not be exchanged for goods or services.

Virtual currencies such as Bitcoin were used without any legal basis; the Japanese government said that virtual currencies have the same value as currency. It was noticed that you admitted. In Japan, crypto currency exchange companies are obliged to register with the Financial Services Agency, and regulations such as money laundering prevention and user protection such as asset segregation will be established. Use immediate-edge.co for more details.

An example of the Bitcoin ecosystem

The Bitcoin ecosystem refers to all industries and services that surround Bitcoin. Below, you will introduce representative businesses and services related to Bitcoin.

The editorial department introduces the outline of Bitcoin in 5 points in an easy-to-understand manner. You also introduce recommended exchanges and sales outlets where you can buy Bitcoin, so please take a look.

Currently, Bitcoin has a strong aspect as a target for speculation. Looking at the world as a whole, virtual currencies such as Bitcoin are: Although it is being used in various fields, it has not yet reached the stage where it penetrates the economy. Mega banks will be overwhelmed by taking a bite out of Bitcoin with the possibility of becoming huge in the future. In addition, cooperating with bitcoin players such as coin bases and bit flyers for megabanks will lead to technical cooperation in utilization of block chain mentioned above, and will be described below. Although Bitcoin has the potential to turn over the conventional concept of money, many people are worried that there is no issuer administrator and that price fluctuations with respect to fiat currency are large.

You can use crypto assets virtual currency such as Bitcoin BTC to collect the price of shopping and goods/services. Payment costs using crypto assets virtual currency are becoming widespread, such as the introduction of Bitcoin BTC payments at major electronics retailers because payment costs are lower than with credit cards and do not require more complicated procedures than bank transfers. Block chain is a technology born as a distributed database that realizes Bitcoin.

The absent economy such as the derivative market will change to virtual currency

The market size of Bitcoin is 50 trillion yen. The actual market size of the economy is 3000 trillion yen. And 17K is the economy that has no reality. An irrelevant economy is secured by a country or company. However, that country and company will disappear if the missile falls. However, the block chain will not disappear even if the missile falls. You believe that the price of virtual currency will still rise in the long run as the assets of the economic zone, which has no reality, will be changed to virtual currency.

Further technological innovation of virtual currency advances

Also, we cannot overlook that technological innovation of virtual currency and block chain will progress further. If payment chains such as plasma for Ethereum and Lightning Network for Bitcoin are advanced, it will be possible to realize micropayments for various purposes. Trading becomes even faster. Then, new payment technology will spread overwhelmingly. Whether it’s managed by the nation or managed by the block chain, when people feel safe both, they will use the block chain. This will increase the investment in the mechanism, and it will be a cycle that it will be easier to develop and use. In that case, the virtual currency market will increase 10 times, 100 times, and 1,000 times. Five years later, block chain technology-based currencies will be circulated in the general public and can be used in supermarkets and convenience stores. Ten years later, there are no major powers such as the United States and foreign country. Btc News Trader is best bitcoin software.

What will happen to the concept of the nation in the future?

You think large-scale nations will start to be dismantled, and small-scale nations will be born. In your personal opinion, you think the United States and other countries will not survive at least in their current form after 10 years. Currently, in terms of block chain crypto currencies, the United States and other countries are in regulation. A state with vested interests is in regulation. Therefore, the people of these countries will become more difficult to move in the future. On the other hand, foreign countries are stimulating evaluating virtual currencies and block chains more and more.

The existing centralized system, which is managed by the country, is not very stable in the event of an emergency and there is a high possibility that data will be lost, so it is not safe. On the other hand, countries that use block chain, which has an overwhelmingly high safety mechanism, will be able to gain credibility. Suppose that a small country uses a system that is tamper-proof and fairly secured, rather than any tamper-proof system created by the government.

Where then would the world capitalists want to deposit their assets?

You will choose a country that employs block chain. Capitalists are the ones who want to get the most out of this trend. Because if you have a lot of money and you don’t have to spend your current international financial capital, you do. I think that speed is faster than you expected.

In 2017, the exchanges in other countries showed great excitement as it was called the first year of virtual currency. For example, Bitcoin, which is a hot topic right now, has the momentum to reach the bubble sphere, and has created a virtual currency boom around the world. It was in 2009 that the first block of bitcoin was born when 10,000 yen was over 100 million yen. This is the de facto start of virtual currency. Bitcoin will rapidly increase its value thereafter. The current Bitcoin rate is over 700,000 yen for 1 BTC, just over 7 years after the first transaction. Even if the rate at the time of the first transaction was 1 BTC = 1 yen about 1 cent, it would have been a surprising increase of 700,000 times or more. If you buy Bitcoin for investment, don’t get it out of your living expenses, but don’t worry if you don’t. By the way, looking at the price movement from the beginning, it has risen considerably.

The World’s Newest Adults: Everything You Need to Know About Gen Z’s Financial Situation

Gen Zers are the newest adults. Their ages range from 5 to 25 years old, making them born between 1997 and 2015. Gen Z is unique because they were raised with technology and are savvier and more intelligent in many ways than their predecessors, including Millennials.

But what about their financial situation? Only 24% of Gen Zers are financially independent by the age of 22. But there could also be a few reasons why — Gen Zers are still supported by parents at this young age, many are in college, and more.

So, what all do we know about Gen Z’s financial situation?

How Gen Z Compares With Other Generations

Gen Z is different from other generations for many reasons. They’re not only well-versed in technology but they rely on it. This means that Gen Z may not know traditional financial tasks, such as writing a check.

Visited Their Bank

The Federal Reserve states in 2017, half of U.S. adults with a bank account used their phones to access their accounts. And this trend has likely increased throughout the years.

But do Gen Zers visit their actual bank location? While they likely have been to their bank location, they don’t visit the physical bank building as much as Boomers, Gen Xers, and even Millennials. That’s because you can do most banking functions online or on the banking mobile app.

Written a Check

Checks are becoming archaic. This is why many Gen Zers don’t write checks, especially compared to Boomers.

Applied for a Credit Card

Gen Zers are still young and may not have a sound financial situation or even the need to apply for a credit card. All other generations have credit cards and use them regularly. Gen Zers are also smart; they see the financial mistakes that Millennials made and may be hesitant to sign up for a credit card.

Contributed to a Retirement Savings Account

Gen Zers are young and retirement is likely far from their minds. While most Boomers already reached this retirement age, Gen X is right around the corner from retiring. Even Millennials are taking retirement seriously and have contributed to their retirement wealth.

How Does Gen Z Handle Their Finances?

While Gen Z may not be as experienced in certain financial tasks as other generations, they do have many advantages over their older counterparts. Does that mean Gen Z handles their finances better?

First, Gen Z is likely in less debt than others. That’s mainly because Gen Zers are still young and less experienced in many areas of life. For example, Gen Z only owns 2% of the housing market, so many 20-something-year-olds aren’t paying off a mortgage.

However, many Gen Zers are still in school and hold student loan debt. Their debt will likely increase in the next coming years.

Is Gen Zers Receiving Financial Support?

One of the reasons why Gen Z has a more stable financial situation than Millennials is they’re receiving financial support, specifically from their parents.

Most Gen Zers are just starting out in the working world or are going to college. They can’t afford to cover their housing, groceries, and more.

This is the perfect time for Gen Zers to find ways to make money and save for the future. If you’re not sure where to start, take a look at some of these Grant Wydeven finance tips.

Does Gen Z Strain Their Budget?

It’s easy to get out with friends when you can’t afford it or buy a new phone that’s way out of your budget. Millennials had the bad stereotype of spending outside of their means. Is Gen Z following this same path?

Surprisingly, most Gen Zers don’t spend what they can’t afford. They likely watched the same mistakes that Millennials made and learned from them. They may also try and lower their spending as much as they can.

However, there are Gen Zers who make the same mistakes as Millennials. They may take those extra funds out of their savings or will put them on a credit card.

Financial Misconceptions That Gen Z Is Taught

One of the reasons why Gen Z may not be financially successful is some misconceptions that we’re taught. For example, a Gen Zer may have been told they’re too young to save for retirement.

Here are some other examples of financial myths.

Having Multiple Credit Cards Is Bad

As stated previously, most Gen Zers don’t have a credit card or even applied for one. They may not think they need one or they may have even told holding multiple credit cards is bad.

While collecting debt on multiple credit cards can be bad for your credit score, holding multiple credit cards won’t badly impact your credit score (though signing up for one may reduce your credit score). Actually, actively using your credit cards is good for your credit card.

You Need to Carry a Balance on Your Credit Card at All Times

Ideally, everyone should pay off the entirety of their credit card. If you carry below 30% of your credit card balance, it won’t dramatically affect your credit score. But all cardholders should aim to pay off the entirety of their credit card balance.

This is a common myth passed down from generations, including Gen Z. Fortunately, more education and better credit card practices are reducing these myths.

There’s No Need to Invest in Retirement at a Young Age

The younger you invest in retirement, the more financially successful you will be in life — especially when those retirement years roll around. Even if Gen Z only adds a little bit of money to a retirement savings account, they can experience some serious wealth once they reach retirement age.

Does Gen Z Have a Good Financial Situation?

We often wonder about the financial situation of younger people. But what about Gen Z? Gen Z saw the mistakes that Millennials made and are more educated in the ways of finances. Since Gen Z is young, they’re supported by their parents and don’t carry as much debt.

However, Gen Z was taught some common financial myths such as they’re too young to save for retirement. It does seem that many Gen Zers aren’t believing these myths and are putting financial health as a priority.

Do you want to read some more finance information and tips? Continue reading our blog!

How Long Does It Take to Get a Personal Loan? A Simple Guide

Have you been wondering, “How long does it take to get a personal loan?” If so, you’ve come to the right place. The answer to this question is complicated since there are so many variables involved, but there are some steps you can take to get an answer you want.

Keep reading for a guide on taking out personal loans!

Investigate Different Lenders

When you’re looking into personal loans, it’s important to cast a wide net. In other words, don’t do business with the first lender you find. Spend some time shopping around for other options so you can make comparisons.

You can go the bricks and mortar route by using a bank or credit union. The advantage of doing that is that you’ll speak with an actual person and may be able to negotiate a better result. But if you have a need for speed, online lenders should be able to come through more quickly.

There is one other way to expedite the loan approval process: get pre-qualified. In many instances, you can submit a prequalification application, and if all goes well, you’ll have a higher chance of securing the actual loan.

Look at the Interest Rates

Not all loans will come with the same interest rates. The numbers will vary according to your finances as well as your sense of urgency. If you need a loan quickly, you’ll probably be socked with a higher interest rate.

How strong your credit score is will impact your loan’s interest rate, and your employment status can affect it, too. The moral of the story is that it’s important to keep your credit score in good standing so you’ll be able to snag the best deal possible.

Know Your Stats

When you begin the process of seeking a loan, you can move things along at a faster clip if you’re prepared. This means you should have a copy of your credit report (and know your credit score).

If you know that your credit score isn’t at its best or your employment status is shaky, you might want to ask a trusted friend or family member to serve as a cosigner. This can enable you to score a better loan.

How Long Does It Take To Get a Personal Loan?

Ultimately, there’s not a definitive answer to this question — but there is a general timeline you can expect. Once the approval process is underway, you could have your loan in as little as a day or up to a week later.

When in doubt, ask the experts for help. The professionals at bonsaifinance.com can work with you to handle your financial needs and make sure the loan process goes smoothly.

The Bottom Line

So, how long does it take to get a personal loan? If your credit is in good shape and you’ve done your research, the approval process can move swiftly. All you have to do is get started!

When you’re ready to learn additional financial tips, check back for more great articles!

Taking Out Installment Loans Online to Finance a Business

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There are several loan options that you might probably consider when you need funds for a business. For most people, online installment loans are an excellent choice because they are not only easy to apply but also have a beneficial repayment structure. 

Borrowers can use online installment loans like GoodCheddar for starting a business, covering daily operation expenses, branching out, or investing in other business opportunities. If you want to obtain quick business financing, this type of loan is for you. 

Definition of Online Installment Loans

Most people have probably taken out an installment loan in their adult life. Aside from business financing, this type of credit is used to buy a house, purchase a vehicle, pay for college education, and other stuff. 

If you’re borrowing a sum of cash with a repayment that you can fulfill in installments over a specified length of time, it’s called an installment loan. The loan’s term can run up to several months or years, depending on the agreement between the lender and the borrower. 

Each installment payment goes toward paying a part of the principal (a sum of cash you’ve taken out) and its corresponding interest (an amount imposed by the lender to the borrower for using his/her assets). The borrower may also have to pay for additional fees, such as an origination fee for the application and service expenses. 

For instance, you apply for a $20,000 loan with an interest rate of 12 percent and an origination fee of 3 percent. Then, you have to pay this loan in installments along with its interest and additional fees in the course of 4 years. 

Since the loan has a 3 percent origination fee, the sum of cash you’ll get from the $20,000 loan will be $19,400. It’s because most lenders deduct the origination fee from the principal loan amount. 

A 4-year loan is equal to 48 months of repaying the principal and interest. You need to make a payment amounting to $466 each month to the lender. When the loan’s term expires, your total payment will be $22,400. 

Repayment Terms of Installment Loans

To understand the different repayment terms of online installment loans, they are divided into three categories, namely: short-, medium-, and long-term installment loans. 

Short-term installment loans can last up to 6 months and 2 years. In most cases, short-term installment loans have what many lenders call a set, one-time fee, instead of interest. 

Medium-term installment loans can run in the course of 2 years or 5 years, depending on the contract agreed between the borrower and the lender. 

Long-term installment loans have higher loan amounts and longer repayment terms that can last up to 6 or 30 years, depending on the contract agreed between the borrower and the lender. 

Short-term and medium-term installment loans are great options if your business is just setting off the ground. They come with only a few risks, and you can repay them easily compared to long-term installment loans. 

It’s impossible to determine what financial problems would happen in the course of a pretty long year when you take out an installment loan with a longer repayment term. So, better safe than sorry, especially if you’re starting your journey in business. 

Specific Purposes of Getting Installment Loans for Business Financing

Owning a business can incur different types of expenses and liabilities that you need funds for. If you need business financing, it’s a good idea to obtain an online installment loan. Here are some of the specific purposes of taking out this type of loan to finance your business. 

Fill Up the Inventory

An installment loan can be a great source of funds for the purchase of inventory. For example, if you need to buy inventory in large quantities to save money, you can cover the expenses using this type of loan. 

Pay for Day-to-Day Operation Expenses

An online installment loan is a great business loan option to pay for daily business operation expenses, such as rent, payroll, and overhead expenses. Getting an installment loan will help you significantly when you’re short on funds to run your business.

Debt Refinancing

If your business is burdened with a significant amount of debts, you can use an installment loan to refinance your business’s financial liabilities. Ensure that your business has the potential for growth before getting a loan for debt refinancing to ensure that you can repay what you owe in due time while still bringing in profits. 

Branch Out or Acquire a New Business

If you think that your business is doing great, you can opt to expand it to reach more potential customers. You can also purchase a new business for more profits. To achieve these goals, you can borrow money from an online installment lender for that purpose. 

Takeaway

Installment loans are excellent alternatives when you need business financing. This type of loan has business-specific purposes, such as purchasing inventory, paying for operational expenses, refinancing debts, branching out, and acquiring new business. 

5 Questions to Ask Yourself Before Investing in Cryptocurrency

So, you want to invest in cryptocurrency? Plenty of great reasons exist to invest in this new form of currency.  Other points may make you want to stay away. For some investors, it is a great idea, but others may want to stay out of the fray. Which category do you fall in? That depends on several factors.

To determine whether investing in cryptocurrency is right for you, ask yourself a few basic questions. Answering them will help determine how good a fit cryptocurrency investing is for you and your particular financial management and investing style. Here are 5 questions to ask yourself before investing in cryptocurrency.

1. Do I understand what cryptocurrency Is? 

The first question to ask yourself is if you have (or can obtain) a basic understanding of what cryptocurrency is. If you can’t wrap your head around that, it doesn’t make sense to invest. You may not understand everything a company like Procter & Gamble does before you buy its stock but at least you have a basic understanding that they are a multinational conglomerate that produces and sells a variety of tangible goods and services. You don’t need to know anything about surfactants but you should know that they are used in their business.

If you are starting from square one, it helps to know cryptocurrency is a secure digital currency that is not issued or controlled by any central entity (like a central bank).  Iit is created with blockchain technology that keeps a public ledger of transactions that is, in turn, kept on a network of computers. If you already know this or are interested in learning more, cryptocurrency investing may be for you. If this all sounds like Greek to you, maybe put your money elsewhere.

2. Do I have the resources to learn more about cryptocurrency? 

If you have or are ready to acquire a basic understanding of cryptocurrency and are interested in investing in this product, the next step is to dive in deep and learn as much as you can. You need to learn about the different categories of cryptocurrency, the different individual cryptocurrencies, the exchanges where they are traded, and how to use those exchanges. To do this, two different resources will prove very helpful and informative. Your options are investing time or finding a knowledgeable person to help you.

If you have the time and the wherewithal to dig down deep into how cryptocurrency investing works, by all means, do it. The nice part about investing in such a new market is that there is not yet much institutional knowledge to keep you at a disadvantage. If you are willing to put in the work, you can know just as much, if not more, than the experts in the field. If time is not a resource you have or are willing to invest, the other option is finding an expert who can help advise you. This is not as easy as walking into your favorite investment firm’s local branch and asking them to invest for you. Experts in this field are still few and far between so finding one may prove too difficult for your location and circumstances.

3. Do I have the resources to invest in trading? 

Cove Markets notes that day trading is one increasingly popular path to getting involved with cryptocurrencies. As the article explains, “Day trading is the process of speculating on financial products and assets over the span of a single day.” The cryptocurrency market, which is known for its wild price swings on a seemingly minute-by-minute basis lends itself very well to this type of trading. When you can dedicate the time and focus it takes to do day trading right, plenty of opportunities to make huge profits arise. It is also likely some trial and error will be involved so you should have the capital to invest so you can weather some losses as you learn how to do it.

Day trading is not for the faint of heart. This is an immersive, hands-on trading activity in which you will have to be fully engaged to conduct properly. If you are willing to put in the time and money, it is probably the best way to go about investing in cryptocurrency. If you can’t dedicate what you need to do in order to be successful, daytrading in cryptocurrencies is probably not something in which you want to immerse yourself.  

4. Do I truly believe in cryptocurrency? 

In an ideal world, you should be passionate about your investments. You should believe in each company and think that, in the right circumstances, the company or the asset could take off and explode. This is the core of investing. It is playing a hunch that something you like and really believe in will catch on and others will start believing in it, too. This is what earns people long-term money when investing.

If you think cryptocurrency is the future of money and that fiat currency will soon be a thing of the past, then you should absolutely consider investing in this currency. If you think this whole concept is just a flash in the pan or the latest investing fad that will soon be replaced by something else, it may not be for you. This is not to say that if you do think it’s a fad you can’t make some money while it’s booming but chances are you will be far more interested and involved if you are passionate and truly believe in cryptocurrency’s potential.

5. How risk tolerant/averse am I? 

Now we get to the real question. You may understand everything there is to know about cryptocurrency. You may have the time and resources to get the best advice and day trade all day long. You may love cryptocurrency and believe that is the future of money around the world. But, the biggest question you need to ask yourself is, how risk-tolerant (or risk-averse) am I? This is what, in the end, will truly determine if investing in cryptocurrency is right for you. For every overnight teenage millionaire in the world of cryptocurrency investing, there are just as many if not more cautionary tales of investors who lost their shirts.

A recent three-month period perfectly illustrates the rewards and risks of cryptocurrency. Bitcoin was trading at the time at just under $6,000. Over the course of a few weeks, the price rose to just under $20,000. Great, right? Well, in just a few more weeks, the price had dropped all the way back down to just under $7,000. If you got in around $6,000, that was amazing! If you sold at the right time, the profit was incredible. If you bought in near the peak though, within a few weeks you may have been completely wiped out. That’s the rollercoaster of cryptocurrency investing for you.

Conclusion 

There are many good reasons to invest in cryptocurrency and probably just as many good reasons not to do so. For the right person, it can be a great opportunity. If you are interested in seeing if this kind of investing is right for you, ask yourself these 5 questions to help make your decision.

Why More Students Should Choose a Degree in Economics

If you are interested in keeping up to date with current events from around the world and love anything to do with business and finance, it might be a good idea to look into enrolling in an economics degree course in order to pursue a career in this field. There are numerous career options on offer for economics graduates, many of which are very lucrative and interesting. Economics might appear to be all about money, but it’s actually a very human-centered subject. It can be defined as the study of how people allocate and utilize financial resources on both an individual and a group basis. Because of this, the economics programs available to study can vary greatly.

What is Economics?

So, what exactly is economics? This social science covers a broad range of issues that tend to influence the financial decisions that we make. Economics explores how both individuals and organizations use, produce, consume, and distribute the goods and services of the world. Knowledge of money alone is not enough; a good economics degree will also examine several other areas including politics, psychology, sociology, law, history, geography, and more.

What to Expect from an Economics Degree

Whether you’re starting out studying economics as a freshman or want to get a Master’s degree in Applied Economics, it’s always good to know what to expect from an economics degree program like the one at https://appliedeconomics.bc.edu/. Economics degree programs offer students a wide range of seminars, lectures, written assignments, reports, projects, and sometimes even exams in order to ensure a broad and deep understanding of the subject. A bachelor of science in economics tends to focus heavily on statistics and math and will require students to have a very solid grasp of mathematical principles.

Reputation

One of the main reasons to consider studying for a degree in economics is the reputation of this subject. It’s a very well-respected degree that will certainly be noticed by both professors and future employers, whether you decide to go straight into the workforce or want to further your education even more. You can also often combine an economics major with several other well-respected subjects such as computer science, law, engineering, politics, and languages.

Career Prospects

A degree in economics will open up doors for you when it comes to several different career prospects. One of the best things about economics is that it can be applied to a huge range of different industries and fields, so there’ll never be a shortage of things that you can do with this degree. You might find yourself providing advice to politicians or lawmakers, or working for a bank or other large financial institution. Economists often also work closely alongside businesses as risk analysts, or you might take an interest in economic reporting and journalism. The options truly are endless when it comes to a career in economics, so it’s an ideal choice if you’re interested in math and money but not 100% sure of what you’d like to do – it leaves plenty of options open.

Economics is a well-respected, interesting degree with plenty to offer for those who study it.

A Simple Guide to Health Insurance Deductibles

Health insurance is confusing for many people. Most people think they understand it, but they really don’t.

About 74% of Americans say they know what health insurance deductibles are. Yet, only 51% were able to correctly define what they are. Only 4% of Americans understand all of the terminology related to health insurance.

That lack of understanding can be costly and leave you underinsured when you need coverage the most. Read on to find out how health insurance deductibles work.

What Is Deductible in Health Insurance?

You may have seen the term deductible in other insurance policies like your home or auto coverage. What does deductible mean? It refers to the amount of money you pay out of pocket for health care services before your insurance pays its share.

For example, if you have a health insurance policy that has a $5000 deductible, you’ll pay out of pocket for medical care up until the $5000. Once you reach that mark, then insurance will cover the rest of your health care costs.

There are some exceptions to this rule. Some policies only make you pay a co-pay for doctor’s visits or you don’t pay anything at all for preventative lab work.

This is why it’s so important to understand your health insurance policy before you sign up.

Premiums and Co-Pays

You pay a monthly amount for your health insurance, and you might be wondering why you have to pay more for your health care. Your monthly cost is your premium.

Your co-pay, or copayment, is what you pay at your doctor’s office. This could be a flat dollar amount or a percentage of your bill. Some insurance plans will have a combination of the two.

You might pay $20 for doctor’s visits, $40 for specialists, and 20% for hospital stays. Again, you may have to meet your deductible before these payments kick in, which would leave you responsible for the full bill.

Shopping for Health Insurance

When you shop for insurance, you’ll find that most plans that have a low deductible have a high monthly premium. Plans that have a low monthly premium usually have a higher deductible to meet.

With the low monthly payment/high premium plans, you have to be prepared to pay a lot of money out of pocket if you’re in an accident or need to visit the hospital.

You want to make sure that you know what type of insurance you need. You can then look for sites that give you premium estimates as to how much you’ll pay every month.

For instance, if you need Medigap insurance in Alabama, you can check out a site like MedicareWire that lists the premium payments for different carriers.

As you shop for insurance, you need to look at the entire cost of health care, not only the premiums.

How Do Health Insurance Deductibles Work?

Health insurance policies have so many terms and conditions that it’s easy to get confused. When you shop for health insurance, look at the health insurance deductibles, premiums, and co-pays.

That will help you find an insurance plan that fits your needs that won’t leave you financially broke. For more financial insights, head over to the home page of this site for the latest articles.

Great Tips to Start Making More Money This Year

There is always a good time to be trying to make more money, and this is even more of a focus these days because of the fact that the economic future of the country is so uncertain. That’s why you need to make sure you do as much as possible to improve the process right now, and it is something that will play a huge part in this process moving forward. 

You need to take steps to try to make sure you are as financially sound and secure as possible, and this means looking for some of the best ways of being able to improve your cash in the right sort of way. You have to put measures in place that will help you to make additional money, and this is something you need to think about right now.

Find Work Online

Make sure you take the time to get online and try to find as many different opportunities for work as possible. There are so many ideas you can use to improve and help you make additional money, and these are avenues that you should be looking to explore. There are a lot of things that you need to work on as much as possible, and things like blogging, completing surveys, and publishing ebooks are some of the best ways of being able to make money on the internet that can be used to supplement your income. 

Invest in Cryptocurrencies

If you are feeling bold and you have done the right amount of research, there are a lot of things that you’re going to need to think about when it comes to cryptocurrencies. Making the best possible changes to help you improve your financial situation is so important. Now, you need to make sure you focus on cryptocurrency investment, and think about what you can do to achieve this as much as possible. Make sure you do as much as possible to make the most of this right now, and there are a lot of elements that play a part in this right now. 

Generate Passive Income

One of the best and least intrusive ways of being able to make additional money is to generate some passive income. Now, there are a lot of things that you can do to try to make the most of this, and it is important to ensure that there are plenty of things that you can do to help generate the right sort of income. Check out this guide on CIT Bank Savings Accounts that you can use to grow your savings, but also try to look at things like monetizing a blog in order to help bring in passive income as well. 

As you can see, these are just a few of the key ideas you can use to help you when it comes to trying to make more money. It is so important to find great ways of doing this right now, and you should be looking to try to get this right as much as you can. Make sure you do what it takes to improve things right now, and these are some of the best ways of being able to make additional money on the side.