Debts are an unfortunate part of life. Unless you come from a particularly rich family and have all the luck in the world, you’re going to have to deal with debts at some point. It might be loans for education, your home or your business. It might be because of credit cards that we’ve lost track of. Or perhaps overdrafts that we dug into a little too far. How much you dug into debt doesn’t matter all that much. What does is taking control and getting back out of it. Below, we take a look at how exactly that might happen. Whether it’s managing or getting your debt forgiven altogether. Or whether it’s rolling up your sleeves and organising your finances like you’ve never organised before.

Student loan

The biggest loan that most of us will carry on our backs is a student loan. Even if you’re not in trouble with your payments, it can weigh heavily over you. How do you take care of it? Do you save to get rid of it now in place of your retirement fund? Do you stick to having it cut out of your wages for years to come? Paying off your student loan can negatively affect your credit rating but that will repair in time. Freeing yourself from it early can let you save for the rest of your life a lot more consistently. Public service loan forgiveness is also available, helping some in getting their student loan shaken off.

Better organisation

The key to paying off their debts quicker for most people means putting a lot more money aside for it. This takes the skill set of managing more money on the side without seeing how much you’re actually putting together. The right usage of online resources can help you manage your finances with all the more precision and mindfulness. For example, online banking allows you to track your spending in real time. That way, you know whether or not you’ve gone over your budget every time you take money from the bank. Similarly, using Google Sheets or Microsoft Excel can help you turn all your earnings and outgoings into an easily tracked sheet. With the right forward planning, you might find yourself shaving off a lot to put towards repaying your debts.

Debt consolidation

Consolidation is a bit of a wary subject for a lot of people. Many don’t really understand how it works and whether or not it will actually benefit them. It’s an important question to ask before jumping at it. Consolidation can, indeed, be the exact wrong move in situations. If you’re worried about multiple credit card debts for example, you won’t want to consolidate. Debt consolidation companies and banks don’t have the upper limit on their interest that credit cards do. However, with other debts, it can be an easy way of making it more manageable if it’s reduced to just owing one company money. Check the interest rates carefully before you agree to anything, however.

Share to Explore !!

Facebook

Digg

Pinterest

Twitter

Reddit

Linkedin

StumbleUpon

Tumblr

Print

email

Yummly

Buffer

Are you thinking of taking out a payday loan? They have a certain reputation, but is it fair? Here are the main pros and cons of this type of loan that you should know about before you take one out.

Pros

Quick Cash

Once your loan application has been approved by the lender, it usually doesn’t take long at all to get the money. They will usually send it within 24 hours, and that’s something you won’t get from many other lenders. The speed of the process is something that lenders like Personal Money Store emphasize most. Many people need money very quickly when they apply for a payday loan. So, the quicker this takes place, the better. No other form of lender can compete with payday lenders in this regard.

Easy Applications

There is nothing complicated about the application process when you borrow from a payday lender. All you have to do is let the company know how much you would like to borrow. They will then tell you what the repayment term will be and what the interest rate is. Contrast this with other forms of borrowing money. When you want to take out a bank loan, for example, you have to take the time out to organize a meeting with them. And the whole process can take a long time.

You Are in Control

You are in complete control of how much you borrow when you take out a payday loan. You can borrow a very small amount of money, which is not usually possible when you borrow from other lenders. And you can also borrow larger amounts when you need to. Many payday lenders will allow you to borrow more in the future once you have proven that you can pay back what you borrow. This level of choice and control is something that persuades many people to use this option.

Cons

High Interest Rates

As long as you know what you’re getting yourself into, this might not be much of a problem for you. But the fact is that payday loans have to charge higher interest rates. That’s how they can afford to do all the positive things outlined above. For many people, this is a worthwhile compromise. But others, it might be too much for them to handle when it comes to repaying the money eventually. It’s important to understand exactly how much you’ll pay back in the future before borrowing.

Some Additional Fees

There are also often additional fees that you will need to pay. You should enquire about this before you borrow the money. It’s always best to know exactly what you are signing up for. It might only be outlined in the small print, and a lot of people don’t even bother to read that. There are also late fees that will start to stack up if you begin to miss your repayment deadlines. It’s important that you don’t miss those deadlines because each missed deadline will make it more expensive for you.

Share to Explore !!

Facebook

Digg

Pinterest

Twitter

Reddit

Linkedin

StumbleUpon

Tumblr

Print

email

Yummly

Buffer

Our finances are our bread and butter, the feature of our lives that makes everything tick. With taxes, cheques, loans, credit and mortgages, the whole thing can become slightly overwhelming. So, just what can you do to help yourself help your money?

The online space is a wonderful tool with many assets. This means there are no shortage of ways to pull your money organisation together, and here are but a few of them.

1. Online and mobile banking

It’s surprising to learn that so many people still aren’t banking online. In fact, in a relatively recent survey, it was revealed that only 51 percent of adults bank online regularly. What about that other 49 percent?!

There are certain stigmas surrounding online banking, and they’re understandable. They are generally believed by the older generations, and most of them are concerned with security risks. And while it’s true that online banking is as safe as you make it, it’s far more beneficial that just using a branch.

You can send and receive payments, check statements and open new bank accounts in minutes. In fact, it takes mere minutes to open a brand new bank account from the comfort of your laptop – I can attest to that. So, if you aren’t banking online or on the go yet, consider it. It could be the solution you need to better organise your money.

2. Receive financial supplies with the click of a mouse

The rise of online shopping and giants like Amazon has made it pretty easy to find a wide range of commodities on the internet. You can now order cheques online, buy bank books and even browse for credit and bank cards, to arrive within days. It sure beats the old-fashioned method of strolling down to your local vault and requesting some documents.

Part of the solution to organised financials is saving time. Just like online banking in point number one, you don’t have to lift a finger with the online space. You can order everything you need and check your bank statement within two minutes, while watching Game of Thrones.

3. Tracking income and expenses with ease

As many self-employed contractors and business owners will attest to, tracking finances is difficult. With the latest news that could see the introduction of a quarterly tax return, it’s never been more important to watch our money.

Luckily, it’s simple to do so. A service such as Google Sheets is a cloud-based spreadsheet creator, that can tot up your daily, weekly and yearly earnings with ease. What’s more, you can access it anywhere that has an internet connection, from the airport to the library.

4. Send invoices quickly and hassle-free

Jumping back into self-employment, businesses around the world will have heard of the dreaded invoice. If you forget to send it, you don’t get paid. It can be a hard document to organise, especially if you’re owed a lot of different amounts of cash. If your business wants to make money, you’ll need to use these documents every week – but how to do so efficiently?

Well, luckily, the internet is here to help. Using an online invoicing tool you can even schedule invoices to go out on certain dates. You could even line up your invoices for the next month, or two months. Additionally, like Google Sheets, many of these systems are cloud-based, so you can update them and send from anywhere.

Hopefully these tips have helped you somewhat. Our money is our most precious commodity, so give it the attention it deserves!

Share to Explore !!

Facebook

Digg

Pinterest

Twitter

Reddit

Linkedin

StumbleUpon

Tumblr

Print

email

Yummly

Buffer

Who said investment is only for the wealthy people? Even a few hundreds of dollars which you don’t need immediately, can help you make good returns. We always plan to save a considerable amount of money for investing in things that can promise us good returns. Money management is indeed a skill or an art which you need to master before taking the plunge. There is no single process to manage your funds and there are indeed a number of considerations which you need to take into account while investing. Irrespective of whether you’re saving for your child’s education or you’re saving for a house, you need an effective plan to keep things in place. If you’re considering investment, here are some smart tips that you can follow in order to stay on the right financial track. Check them out.

1. Don’t pay heed to the financial media: If you earnestly wish to invest your dollars intelligently, you need to ignore the facts which you get to know from the financial media as most of them are meant to deviate you from your goal and make costly blunders. Even when you hear something and that turns to be true, don’t ever get tempted to follow it immediately. Don’t allow the latest trends and media nurture your poor investment habits.

2. Let go of your emotions if you want to make money: The success of an investment is determined by the ability to manage risk and fear. Avoid buying on impulse as that always leads to bad investment decisions. Even if you can’t afford to be an optimist, you should definitely be a realist who evaluates and analyses the statistics and arrives at an objective. Don’t allow your emotions to influence your investment decisions.

3. Predict the trends, don’t follow them: If you have saved some money for investment, the first thing you should realise is that you should try to be different and not follow the herd. As people are influenced by public opinion, it is easier to go by the trends but that won’t be good for your investment career. In today’s market, traders should be of due diligence and if you don’t want to be among the crowd, you should always stay ahead of it.

4. Don’t spend more than what you earn: If you wish to build lot of wealth, all that you require doing is to spend much less than what you are actually earning. This might sound like the most –obvious thing to suggest but majority of the people fail to follow this advice mostly. You might look forward to increasing your income through strategies like getting a raise in your job or trying some passive jobs from home. Adopt all forms of frugality in order to reduce your spending.

Hence, if you’re trying your best to manage your dollars and use them in investment, you can take into account the above mentioned tips. You may also take a look at Banc de Binary in order to know more on appropriate ways of investment.

Share to Explore !!

Facebook

Digg

Pinterest

Twitter

Reddit

Linkedin

StumbleUpon

Tumblr

Print

email

Yummly

Buffer

For your business to carry on running smoothly and growing, it needs to have everyone pulling in the same direction. If this is not happening, then it will limit the success of the business and cause productivity to drop. Employee absenteeism is one of the biggest problems associated with this, and here’s what you should do about it.

Make the Policies Clear

Your business should have clear policies in place to deal with absenteeism. If you want people to follow the rules, they need to know exactly what those rules are. So, hold a team meeting and discuss the rules so that everyone understands what they are. You should also make it clear what happens if those rules are broken by any of the employees.

Allow Absent Employees to Give a Genuine Reason

Before you jump to any rash conclusions about why an employee has been absent, give them a chance to explain. It’s usually the case that people have a perfectly good reason for not turning up for work. It might be related to something that is happening in their private life, for example. You need to be understanding and listen to what they have to say before you take any further action.

Motivate Employees to Come to Work

If you don’t want people to be absent from work, then you should give them more reasons to come. It might be the case that your workplace is demoralised and depressed. This is not the kind of environment that people enjoy working in. So, motivate them or change the way the office functions to increase employees satisfaction. Satisfied employees are absent less than dissatisfied employees.

Investigate Persistent Absenteeism

When an employee is taking lots of time off work, you should investigate what is going on. If your requests for answers are not getting you anywhere, then it might be time to take things further. You could even hire a private detective to help you get to the bottom of the problem if you’re really concerned. This will help to find out what is happening and why it’s happening.

Show That This Has Consequences

After the investigation has been completed, you should act. That means disciplining the person who has been absent without a proper reason. You don’t necessarily have to fire them if this is their first offence. But you should make an example of them by giving them a written warning. And then, if they did the same thing again, they would either be sacked or given a final warning.

Lead by Example

One thing you should do is lead by example. If you are the kind of boss who turns up late and is rarely in the office, then this will encourage employees to try and get away with the same. Of course, you won’t be able to be there all the time, but it’s a good idea to make your presence felt. You can’t expect other people to want to spend time in your office if you don’t enjoy being there.

Share to Explore !!

Facebook

Digg

Pinterest

Twitter

Reddit

Linkedin

StumbleUpon

Tumblr

Print

email

Yummly

Buffer