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.

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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.

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When your business needs office space, you need to consider a lot of things. The decisions you make here are going to affect your finances in the long run. One of the problems here is that you may not know exactly how many things you need to consider here.

The first thing you should do is check your finances. You need to see how much capital you have immediately available. You should work out how much profit you’re looking to make in the next few months. You should review your company’s credit score to assess your suitability for a business loan. All of these things will be integral to the decision you make.

Here are the things you need to think about when you’re deciding to make a move to a new office.

Do you need office space?

Let’s say you’re a startup company and you’re all currently working from home. Obviously, the dream here is to have a nice office space for yourself eventually. Having your own office for your own company is such a thrill. It;s easy to see why people are so eager to get office space. But you need to think about this decision carefully. Do you really need the office space? It can cost quite a bit of money, especially if you’re in urban business areas. It may be smarter for you to continue to use your virtual office setup while you save even more money for your business.

Maybe you’ve already got a company in an office. Why are you considering a new office? If your company has hit a sweet spot of profit recently and you’re just buying a new office to splash cash, think twice. Don’t go making frivolous purchases! You should really only be moving office if there is a specific problem with your new one. If you’re expanding too fast and have employees sharing desks, then it’s time to move.

Where should you get your office space?

It’s not just about the office itself. The location of the office is extremely important to consider. Let’s say you’re looking for office space in prestigious business areas like London and New York City. This is a smart decision, in most aspects. But offices in these areas can have quite a hefty price tag. You should consider what profit you stand to make with this move and weigh that against this cost.

Of course, you may not want to go for a slightly cheaper office in a much less desirable location. You may end up in a lease contract that has you stuck in that office for longer than you’d want. In other words, be careful when it comes to compromise. You don’t want to get yourself stuck in one place and, as a result, missing opportunities for offices in really prestigious places. Added prestige make it much easier to get business going with potential clients!

Should you buy or rent?

With cost in mind, you should also work out if you’re going to buy the space or rent it. On the buying side, it may be much better for you to be the landlord of your office space than some other party. You also won’t fall victim to egregious rental rate increases. Some specialized equipment may require you to own the property, too.

Of course, if you don’t have the available capital, then you’ll have to rent. That, or just keep saving money! Work out what your business can afford and what it deserves. Strike as close a balance of the two as possible.

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Getting retailers to stock your product is notoriously difficult. The development process is often long. The money that you need to risk is high. And often the terms you end up with aren’t much to write home about.

It can be brutal for smaller players. But, as with most business operations, there’s a process than can improve your chances.

Have A Plan

Before you start out even developing a product, it’s a good idea to have a plan. In that plan, you want to map out all the usual financial metrics that will tell you how many units you’ll have to sell to make a healthy profit.

But you also want to include all those stores that you plan to approach. For many products, it’s necessary to sell a large number of units to break even. So this may influence the type of retailer you approach. If you’re looking to market a new health food product, you might want to plan to pitch to chains of newsagents.

Just make sure that your product complements their current advertising persona. It wouldn’t make sense for you to advertise health food in a fish and chip shop, for example.

Be Direct When Pitching

Getting time with retailers is difficult. Like other resources, their time is finite. They want to know immediately why they should stock your product and how it is priced.

All they care about is whether your product will improve their business’s bottom line and you have to make sure that it does.

Adapt To Their Systems

One common stumbling block in the way of getting a product into the stores is using the right systems. Often smaller companies are prevented from retailing because they haven’t completed a GS1 application.

Fortunately, there are plenty of barcode solutions out there that allow you to quickly and cheaply register. Having a barcode ready to go with your product will make it more attractive. It’s just one less thing for the retailer to have to think about.

Understand The Needs Of The Retailer

It might be the case that your product is amazing for the consumer. But is it amazing for the retailer too? Retailers want products that will sell reliably. If your product is something quite quirky and different, they may be reluctant to take it on.

This is where doing your research can help. Find out whether any of your competitors has stocked their products with other retailers. Then find retailers with similar characteristics. It’s likely that they will look at your product favourably if their competitors offer your competitor’s product.

Don’t Give Up

Too many entrepreneurs think that the only way to success is to land one big contract with a big retailer. However, this is rarely what happens, even for the most successful products.

Rather businesses start off small, using independent local stores to get their product off the ground. Then follows a long, drawn-out process that involves a lot of setbacks and rejection. Often, it’s only after many years and tremendous effort that products find their way into the big retailers. But if you stick it, the rewards are there for the taking.

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When you see the stock market in movies, it looks easy. It looks like nothing but fun and quick cash (and sometimes illegal substances). And, for sure, the real stock market can offer those things. But the films you’ve been watching often leave out the unsexy details. One of those unsexy details is capital gains tax.

Many people have heard the term capital gains tax. Many know what it is but don’t think it applies to stocks. Well, they do! Here’s a quick rundown of what you need to know about these taxes on your stock sales.

Capital gains tax: a quick explanation

A capital asset is something you own that you use outside of business. The money you’ve sunk into the initial price and subsequent costs are combined and called the basis. When you sell a capital asset, you either make a gain or a loss. If the price at which you sell the capital asset is more than the basis, then you’ve made a profit. And in the government’s book, that means you’ve made a taxable capital gain. The capital gain minus the basis is the total profit. That value is what is going to be taxed via a capital gains tax. When filing your taxes, you need to get yourself a Schedule D (form 1040).

So this applies to stocks?

Yes. Capital assets include land, vehicles, real estate and securities, among other things. Securities include bonds and stocks. If you own stock for personal investment purposes, then it’s a capital asset. The profit you make from the sale of a stock can be taxed by your national revenue agency. So if you want to work out the total money you’re going to pocket after an exchange, you need to calculate capital gains tax.

Are there different types of gains?

There are indeed. There are what we call long-term gains and short-term gains. Short-term gains are the taxable profits you made from the sale of stock you held for less than a year. They don’t benefit from any special tax rate. The value, minus the basis, is usually taxed depending on your income. Long-term gains are the taxable profits you made from the sale of a stock that you held for over a year. The tax rates on these are much cheaper. In fact, if your ordinary income tax is less than 15%, there’s a chance you’ll pay no capital gains tax at all.

Keeping a record

When it comes time to file your taxes, you need to have everything in order. You’re not going to be taxed for every single stock; that’s unreasonable and will hurt the IRS’s calculator fingers. What you need to do throughout the year is work with your stock broker to record all of your gains and losses. These should be arranged into short-term and long-term. Oddly enough, this is when you find out whether or not you actually made a short-term gain or loss in the long run. If all your short-term losses outweigh all your short-term gains, then you’ve made a short-term loss. Whatever the result, put the calculation on Schedule D when you’re filing your taxes.

A loss isn’t a total loss

Revenue agencies aren’t completely heartless. Keep a record of your losses. You can use these losses to offset any future capital gains tax you incur!

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