6 statistics about employee compensation and benefits you should know

If you are a business owner then before devising an employee compensation plan you need to keep certain things in mind so that all the company employees remain satisfied with the job offer. This article covers the 6 aspects which are deemed as beneficial for the employees.

Benefits of pay in employee compensation

As being an authority you must know that what appeals largely to the workers. You must know that they would not appreciate an increase in a pay rate to that extent but they will highly love the additional perks and benefits in the comparison. In the true sense of the word, these employees need freedom and the additional packages and other add on can grant them that. The additional perks make them happier than you think. So whoever devises the employee compensation plan one must keep in mind the importance of this statistic for increasing the satisfaction level. At the end of the day, the happiness of the employee is all that matters. After all, they are responsible for boosting the productivity of the company. For 90 % of the employee, enjoyment comes before.

Importance of work balance

60% of women enjoy the balance in work life so during the recruiting process the hirer can highlight the aspects and elements which contribute to this balance. Even 48% of the men appreciate the work-life balance so there is a high chance of satisfaction if employees are recruited on this basis.

Perks in employee compensation

57% of new job seekers love the perks offered. If you will be offering additional benefits along with the salary package as part of the employee compensation then there are high chances that you will land up hiring competent people. The top tier talent will be attracted to this employee compensation and thus the productivity of your company will receive a boost. Such a perk will ensure that the employee owns a sense of ownership while remaining loyal.

Transparent Salary in employee compensation

If you want to build the trust level with the employees then you must be extremely clear and transparent about the employee compensation. many organizations are not at all comfortable regarding this matter and thus they fail to build up that trust level.you should never hide the information from the employees but instead, become as transparent in employee compensation as possible so that there remains no room for false hope.

Men get 24.1% Higher Pay

One may know that on average men earn 24.1% more than women. If this is the case in your organization too then you got to fix this air of inequality.

Employee compensation should be fair

This is one of the most shocking yet appreciable facts that about 67 % of the employee in the US is not willing to work in a place where inequality exists. Many don't apply or even leave early due to this unfair attitude of several organizations. Thus this clause must must never be present in employee compensation strategy.

Tips on Taking Your Freelance Career to the Next Level

As a freelancer there comes a time when your level of success takes you beyond what you can reasonably cope with on your own and you need to take your freelance business to the next level.

But it’s important to do it right and if you are ready to expand your business there are a lot of things to consider – firstly if it’s right for you as it can be a big leap from the freedom of only being responsible for yourself, to having staff potentially.

We asked our friends from Crunch, a company that works with freelancers a lot, and they gave us a few things to consider when you are planning to take your freelance career up a notch:

1. Business branding

You need to look at your branding if you want to grow, particularly if you currently operate under personal branding. It’s important that your branding is flexible and can adapt with your growing business and can retain your expertise and authority.

2. Make sure your website is ready

Many freelancers set up simple websites when they start out with personal profiles but if you are planning to expand then your website needs to be up to scratch and also able to flex and change with your business. It needs to be professional and have the option to add in new services, products and staff pages as required.

3. Assess your products and services

You need to look at the products and services which you offer and see where you can grow and where the gaps are. Check your pricing levels and packages offerings to see where you can make improvements and add in extra opportunities for your clients.

4. Talk to your customers

Talk to your customers to find out what they think of your services and if there are any services which they’d like in addition so that you can grow your business alongside your current clients. Look for services which you can offer in partnership, even if it means partnering up with another business to offer them – it’s all a way to grow your business. If you are a designer and your clients request photography then plan to partner with a photographer, for example.

5. Take on staff

If you have got to the point where your level of work exceeds your capability then you may need to take on staff. This might mean staff to help with client work, or it might mean staff to handle other aspects of the business such as an accountant, or an admin assistant, to free up your time to work on the business aspects.

6. Continuous learning and development

As your business starts to grow you will find yourself facing new challenges which will require new skills such as dealing with staff or handling larger contracts and tenders, so you will need to grow your skill base.

As a business owner continuous learning and development should be part of your remit anyway but at this particular turning point in your freelance business it becomes more important than ever to keep your skills updated regularly.

7. Increase your marketing

If your company is growing then you need to up your marketing along with it to ensure it accurately reflects your new offerings, new staff and new approach in order to attract more of the business you need.

8. Improve your expert positioning

As your business starts to grow more and more people will be turning to you for your expertise so make sure you are positioning yourself and your business as leading the way in your industry area. You can position yourself by writing authoritative thought leadership articles, white papers and by giving talks at industry events, among other activities. Being recognised as a leader in your field will go a long way to take your freelance career up a gear.

9. Boost your networking efforts

Boosting your networking efforts goes hand in hand with upping your marketing and becoming a recognised expert. By networking more on a broad scale you will be able to make more and more people aware of what you do and the new services you will be offering so will hopefully meet some new clients that way.

And by networking within your own industry you will become aware of more and more opportunities to promote your business and your expertise at relevant industry events and exhibitions.

Taking your freelance career to the next level might seem scary and going back in the world of working in a team and having colleague and bosses however, it might also be the very ambition you have been working towards.

Growing your freelance career to become your own business with employees and a broad range of services and products is an incredibly exciting time and if you follow all o of the tips outlined here it will help you carve your own path to success.

Ways to Earn Extra Income During a Financial Hardship

Life is much like riding a roller coaster with many ups and downs. Because of this, many people who don't have a budget in place, and live paycheck to paycheck, often experience a severe financial hardship that can be difficult to survive. The good news is that there are many ways to bring in additional money to help ease your financial woes.

Take Out a Loan

During an emergency, if you need access to funds immediately, you can reach out to a family member and ask to borrow money for a few weeks. If this is not something available to you, then you can apply for personal installment loans. In many cases, even if your credit isn't at the preferred level to lenders, these types of loans are easier to acquire.

Sell Things You No Longer Need

A fast way to put some money into your pocket is to sell things you no longer want or need. Check around in your attic, basement or garage and see what you have stored away. If you've resided at the place residence for more than a few years, chances are pretty good, that you have things that others will want to buy. You can have a yard sale or you can take advantage of the computer age and post pictures with a description online at sites such as Craigslist, eBay or the Facebook Marketplace.

Use Your Skills

Most people have acquired skills that they can use to earn additional income. Maybe you enjoy working on cars or you're able to fix just about anything around the house, like a handyman. There's an abundance of public need for services such as lawn care, babysitting and tutoring. You can also check online and apply to do things like take surveys or write for blogs. While they won't make you rich, they will supplement your income and help pull you over the hurdle.

Pay Your Bills on Time

Yes paying your bills on time saves you money, and surprisingly in more ways than you might imagine. When you pay them on time you don't incur a late fee and with some companies that can add up to hundreds over the course of a single year. Beyond the late fees, late payments can cause your credit score to take a hit. Suddenly, you are no longer on the "A" list for lenders so you pay more for things like a mortgage or a car loan and insurance. A low credit score can even prevent you from getting hired at a new company.

Trim the Fat

Every household has areas that need improving. When you find yourself in a tough financial time, trimming the waste can help you make it through. For instance, if you dine out or order take-out at least once a week, cut it back to once or twice a month. The same applies to buying coffee on the way to the office and eating lunch out.

Additionally, start paying close attention to your monthly bills, more specifically your cable bill. This is an excellent starting place for removing wasted money. Instead of paying for many extra channels, half of which you don't ever watch, remove them, and go to basic service until you free up monies to live more comfortably.

Most people will have a period of time in their lives where money is tight. Luckily, when these pitfalls occur there are ways to increase your income and continue to enjoy a comfortable life.

Common Financial Worries Families Face

As you grow older, you start to learn that there are many responsibilities as an adult. With those responsibilities tends to come concerns and worries. It could be anything as small as what you’re going to do on the weekend to something more significant like the future of your family.

One worry that is quite common for many families relates to their finances. At one point or another, you’ve probably caught yourself worrying about your financial situation. Money tends to be one of, if not the top concern for many.

What about finances that make families so concerned? Take a look at some of the common financial worries families face.

Unexpected Expenses

The unexpected is something that can make even the strongest person worry, especially when it comes to finances. Even if you have an emergency fund and are prepared for any expense thrown your way, you’re likely to be still somewhat concerned over if you can or cannot afford it.

A 2017 study from Bankrate found that 24 percent of Americans have no emergency fund set up in case of unexpected expenses. However, only 31 percent say they have enough of a cushion to cover six months of expenses.

Preparing for unexpected expenses can be tricky. For starters, you may need that money right at this moment. However, if you don’t set aside an emergency fund, if the time comes that you do have unexpected expenses, it could throw you deep into debt.

Healthcare and Insurance Costs

A significant financial worry involves your healthcare coverage and insurance policies. Paying for coverage that you either rarely use or hope to not use at all can be frustrating. There are likely many other things that you could use the money for.

When it comes to things like life insurance, for many families it is a necessity that they budget for. Even though they know the expense is coming every month, they may still worry about if they can afford the coverage. If you’re in this situation, there are things you can do to help reduce the cost of your premiums. If you’re looking at getting insurance, shop around and get quotes to find an affordable policy.

Losing an Income

Losing an income can be catastrophic for many families, especially if it is your only source of an income. If you lost your job and didn’t have that income anymore, would you be able to continue with your lifestyle?

The concern of losing an income is a reality for many. However, it is one that could be prevented by that emergency fund mentioned before. Another way to protect yourself against this is by getting the right insurance to help cover expenses.

Paying Off Debt

Another big worry for many is debt. At one point or another in life, you’ve likely come face to face with debt. It could be big or small. Either way though, you're bound to worry about it.

Debt puts a kink in many families plans. It can prevent you from doing something you love or even getting a mortgage for your first home. Trying to pay off debt as quickly as possible is a big worry.

Hands On Investing with P2P Lending

There are many different attitudes investors have towards the type of investments they make and how they manage them. Some investors do not have the time or skill to manage their own investments so they use investment advisors. This can include everything from a highly paid investment advisor to a simple low cost mutual fund. This approach is by far the most common and serves to make investing easy enough that anyone can do it.

Of course, there is also the small segment of the investing population who prefer to actively manage their money. While this can be risky, these people believe that they can equal or exceed the returns provided by advisors and institutions. In addition, many of them enjoy the challenge and effort required to find and manage great investments. There are a lot of different ways to invest money and people who can find certain options may be able to do very well.

One popular way to invest that is very attractive to the hands-on investor is peer to peer lending. Peer to peer loans are rapidly becoming the most popular way for consumers to get personal loans to pay off credit cards, pay medical expenses, make improvements to their home or get money for virtually anything. In the past, banks were the only place to go for these loans. Now, the peer to peer lending industry provides an alternative. What makes them different is that the money to fund the loans does not come from large institutions. Thousands of investors provide a small amount of money each, and when it is pulled together they have millions of dollars to loan.

The investors deposit a small amount on money with the lending platform (a website like Lending Club). They can then choose which loans that their money will fund with lending club investing. This is the hands-on part. The investor can view information from each borrower’s application and decide which loans are the best investment for them. Loans vary by risk of default and interest rate so an investor must first decide how much of a risk taker they are. For example, some who wants to make a lot of money may invest in higher interest rate but riskier loans. They may have more loans that are not paid back but the higher interest rates will probably give their portfolio a higher return.

Once an investor has decided on the type of borrower they want to lend to, then they will pick specific loans. This is done by looking at the information on the application and the borrowers credit information that the platform has researched and provided. One key piece of data is the borrower’s credit score. Also, it is good to look at how much debt they have, what their income is and if they have made all of their payments on time in the past. There is a lot of information to analyze and the investors who do it well can make money.

If you are looking for a relatively safe but hands-on investment, then peer to peer lending may be right for you. There are many websites that offer this service but they are usually pretty much the same. So, set up your account today and you can be investing tomorrow!

A look at the human psyche when creating formulas for successful Financial Market Trading

Any financial market trader knows how vital a trading formula is. According to one of Wilkins Finance’s top financial advisor, every trader should have guidelines on how to go about placing trades and closing them. After, all that is what a trading formula is all about. It is also referred to as a trading strategy.

As a trader, you will have to have a way of knowing when the time to place a particular trade is ripe and also know when it is time to close the trade. This what trading entails. It is not just clicking buy and sell buttons haphazardly. No! There has to be a reason for placing and closing of every order.

Most traders dwell too much on when to place an order and forget that they should also concentrate on when to close the order. Closing an order at the wrong time will result in reduced profits and, at times, even losses.

Let us look at an example. Assume that you place a buy on the EUR/USD at 1.34567 and the market moves up to 1.34723. You decide to close the order at that level only to realise that the markets are still moving up and the bullish trend seems to be strong. You will have lost the opportunity to make more profits. If you would have made your market analysis well, then you would have waited for the trend to give signals of changing to bearish. Only then you would have exited the market, thus maximising your profits.

However, you should also not ignore any signal indicating a change in the market conditions. Assuming that you ignore such a signal, the market trend will change and your profits will end up being losses.

When coming up with your trading formula, you will have to put all this into consideration plus many other factors. We are going to discuss the process of creating a formula for successful financial market trading and the psychology behind it.

Steps of creating a formula for successful financial trading

First, you will have to choose the markets that you want to trade. It will help you to come up with a formula that is best suited to the market. Remember that all markets do not behave in the same manner. Forex markets are different from stock markets, derivative markets or cryptocurrency markets. Some markets are more liquid than others. Also, some markets are more volatile than others. For the volatile markets, they have larger daily ranges compare to those which are not very volatile. Therefore, volatile markets would be better for short-term to intraday trading while the less volatile markets would suit those traders who want to do long-term trading.

With, the market, you should go ahead and choose the specific assets you aspire to trade. For example, if you decided to trade the stock markets, you should choose the particular stocks that you want to trade. If it is the Forex markets, you should choose select currency pairs and mostly the most traded currency pairs. Whichever market you decided to trade, pick a few assets that you want to trade.

Next, find a way of getting the trading signals. If you want to automate your trading process, then the trading robot will be responsible for creating and executing the trading signals. But if you are trading manually, you will have to choose the specific indicators to use or enrol with a Trading Signal service provider to provide you with the signals.

You should ensure that the indicators that you choose will give you both entry points and exit points. The same applies to the signals that you receive from your signal service provider. Since you might not be in front of the computer all through, you should place stop levels at the exit point given.

With all the above, you will be good to go. But remember to test the strategy on a demo account for a period of time to analyse its results (whether it is making losses or profits). On the demo account, you will be able to see if the strategy is profitable or not. If not, do not tire of changing it until you come up with a profitable trading strategy.

How Does Indexation Impact Tax Charged on Gains from Debt Mutual Funds?

When you invest, you aim to maximize your returns. However, inflation eats into your actual returns. Additionally, when you exit your investments, you need to pay capital gains tax. Fortunately, the government offers a solution for this, which is known as the indexation benefit.

The basic reasoning for indexation benefit is to ensure you pay tax only on your returns after being adjusted for inflation. This allows you to pay 20% capital gains tax after taking advantage of indexation benefit.

Indexation plays a pivotal role in taxation when it comes to debt mutual fund investments. You may wonder what indexation is. In simple terms, it considers the rate of inflation when you calculate your returns on investments. Indexation results in a significant impact on your actual returns earned when you exit your investments in debt funds. Through indexation, your investment price is adjusted for inflation for the purpose of determining your tax liability when you exit. Indexation offers you several benefits because of the inflation adjustment.

Benefit of indexation

The indexed cost of your investment in debt mutual funds is based on the ratio of the inflation index at the time when you exit your investment. Therefore, a higher value means a reduction in your tax liability. During the long-term, the rising inflation adds up to the purchase cost of your debt funds. On a cumulative basis, it may result in the reduction of your taxable returns when you redeem your investment.

In case of smaller returns over a longer period, your entire returns on investments may be eaten up due to rising inflation. It is likely that in such a situation, you may not have to pay any taxes. It is beneficial because if most of your returns are erased due to inflation, paying taxes is not logical. Furthermore, the returns are only notional and not real due to the rising inflation.

Working of indexation

Indexation takes into account the date on which you invested your funds and the rate of inflation since then. When you apply the indexation benefit, your purchase cost increases. As a result, your profits at the time of exit reduce thereby reducing your tax liability.

Indexation and debt funds

Mutual fund investments are liable either to short-term or long-term capital gains tax. When you opt for tax-saving investments, long-term is defined as at least three years. Therefore, when you stay invested for at least three years, you will be liable to pay long-term capital gains tax. The current applicable rate is 20% post-indexation benefit.

For applicability of indexation, the formula is:

Original investment cost X Cost of Inflation Index (CII) at the time of exit/CII at the time of purchase

Let us understand this further with an example.

Assume that you invested INR 20,000 in tax-saving investments in May 2010. Further, assume that you redeemed your investment in June 2013 to earn INR 40,000. Therefore, your long-term capital gains before indexation are INR 20,000. However, your entire returns are not liable to tax because you remained invested for a period exceeding three years. You are allowed to avail of the indexation benefit, which reduces your long-term capital gains tax.

The indexed returns will be (20000*220)/167, which is equal to INR 26347 (CII was 167 in 2010-11and 220 in 2013-14).

Therefore, your taxable profits = 40000 – 26347 = INR 13653, which is a reduction of INR 6347 (20000 – 13653).

Until recently, the indexation base year was 1981, which is now modified to 2001. Therefore, if you invested before April 1, 1981, your profits may be calculated based on 1981 fair value. However, all investments after April 1 2017 will use 2001 as the base year to calculate the fair value.

In addition to earning profits, investments aim to determine how to save tax. One way is to use the indexation benefits on your long-term investments. You may also choose to pay taxes without taking the indexation benefit at a pre-specified tax rate.

You may choose from several mutual fund schemes. However, you may not have the experience or expertise to compare different schemes. In such a situation, you may consider using the ARQ investment engine, the core feature of Angel Wealth’s mobile application.

One major differentiation of ARQ from other available options is that all the recommendations originate through machines without any human bias or intervention. Based on your personal requirements and risk appetite, ARQ offers investment options that only deliver better returns but also help you know how to save tax.

Download the Angel Wealth app today and enjoy smart and quick investment tips.

The 3 Costliest Banking Mistakes Entrepreneurs Must Avoid

Poor money management is one of the biggest reasons why new entrepreneurs fail. And key to successful money management is the relationship you build with your bank. If you still consider the bank as simply a place to store and borrow money, then you’re missing a huge opportunity to access resources that will empower your small business.

To make the most out of what your bank has to offer, make sure to avoid the following most expensive banking mistakes small businesses commonly make.

1. Mingling personal and business finances

It’s not enough that you have a separate personal and corporate bank account. You also have to be diligent about making sure transactions are made using the right account. Business expenses must only be charged through your business credit cards and checking accounts, without exceptions. And should there be a need to move money between your personal and business accounts, then such transfers must be properly explained and documented.

A clean and clear separation between your business and personal finances allows you to:

● Establish a more efficient tax return process, allowing you to easily see and access tax benefits and cut accounting costs

● Manage your business account better by establishing separate accounts for categories such as tax, revenue, payroll, and so on, as needed

● Make business audits easier

● Obtain a clearer understanding of your business’s financial standing, which equips you with the information you need to evaluate and drive profitability for your company

2. Failing to maximize services that lead to healthy cash flow

While profit may be an easy measure of business success, it’s cash flow that will keep your business up and running. But managing cash flow is known to be one of the toughest and most daunting tasks entrepreneurs face. It is thus important for your business to take advantage of the right financial tools and expertise from your bank that are designed to boost cash flow and address cash flow challenges.

Take advantage of cash management services from your bank, that help you manage incoming and outgoing cash. For instance, end-to-end global disbursements and receivables services can simplify your domestic and foreign payments and collections so you can enjoy lower operating costs and improve business efficiency.

Other examples of banking services that help you manage good cash flow are:

● Payment and account solutions that streamline local and foreign currency transactions

● Global corporate credit cards that help you effectively control your working capital, from goods and services cost to travel and entertainment

● Global payables solutions that allow quick and easy electronic and paper-based payments from local and international customers

● Virtual accounts, cheque management, and paper and electronic collections for managing receivables, so you can quickly turn them into cash

● Other solutions that protect you from financial shortfalls: business loans, guarantees and standby letters of credit, and import and export finance

3. Neglecting to invest in building a relationship with your business bank

There is no “one service fits all” option when it comes to banking. What may work for another business may be irrelevant for yours. And even if it worked for you last time, it doesn’t mean it will continue to be effective at all times. That’s why it’s imperative that you communicate your needs and goals to your bank, as they have the capacity to come up with the exact solutions according to your situation at the moment.

When you start to view your bank as an integral part of your business’s ecosystem, they can deliver more personalized and extra-value support such as:

● Connecting you with contacts, clients, partners and potential investors that are part of their vast local and international network

● Identifying useful tools and products that may not be easily available to ordinary clients

● Referring you to external solutions and experts to address even non-financial challenges you may have

● Offering easier and faster processes, thanks to their familiarity with your business requirements

The best business bank you can find for your small venture can be your growth partner. Your bankers can help you unlock solutions to your biggest challenges, and provide you the support you need as you work toward achieving your business goals.

When it Comes to Your Finances, Doing Nothing is the Worst Thing You Can Do

If you’re currently dealing with a troubling financial situation, you need to think carefully about what you should do next. The one thing that you should definitely not do is nothing at all. If you allow bad situations to develop at their own pace without intervening, you will live to regret it. Here’s why you should never do nothing when the situation concerns your personal finances.

Inaction Comes From Complacency and Overconfidence

The first thing to note is that people’s inaction so often comes because they are complacent about the situation they find themselves in and they don’t feel that anything too bad could possibly happen to them and their finances. If only that were true. To put it simply, your overconfidence and complacency will cost you if you take things too far and become too relaxed about serious situations.

Bad Situations Tend to Get Worse When Nothing is Done

When you do nothing in a situation regarding your finances, you will find that bad situations tend to get worse. This is the golden rule that you should always assume is true for you and your situation. You can’t just close your eyes and hope things will get better. Maybe 5% of the time issues will resolve themselves. But in the vast majority of cases, real action is required.

There Are Plenty of Ways to Get Yourself Out of Financial Trouble if You’re Willing to Act

There are so many things out there that you can do in order to get yourself and your finances back on track. That’s what it’s most important to recognise and realise. You don't have to remain trapped in the negative situation you find yourself in. It’s all about acting when the time is right for you to do so. Places like debtconsolidation.co can help you with consolidation. And you might even be able to get the debt reduced if you talk to your creditors.

Talk to People if You’re Unsure of the Next Step

Independent debt advice is out there waiting to be taken advantage of, and that’s what you need to do. If you’re willing to be aware enough to reach out and ask for the help you need, without your pride ever stopping you from doing that, you will get yourself back on the right path sooner rather than later.

Don’t Expect Something to Arrive Out of Nothing

There is never going to be a situation in which you can expect something to magically emerge that will solve all your problems for you. If you want to learn how to be more realistic and practical in life, head to theemotionmachine.com/a-realistic-approach-to-thinking. It might give you the advice you need to start taking action and stop waiting for things to simply resolve themselves for you.

Your finances are precious and you need to be looking after them properly at all times. If you just allow things to become problematic and you don’t do anything to put those situation right, you’re only going to land yourself in even more trouble before long.

3 Financial Hazards To Avoid in 2018

With the new year comes (to borrow a parlance from Star Wars) a new hope. We hope for improvements in our jobs or careers. We hope for new levels of success and prosperity for our businesses. We hope for new accomplishments and achievements for our kids. New memories and milestones in our relationships. Most of all we hold out the hope that this will be the year when we finally right the ship in terms of our finances. This will be the year when all the bad habits of old will be cast aside and in instead 2018 will be a new era for financial responsibility. It will be an era marked by sage investments, sound and well informed fiscal choices and the curbing of some of our more reckless urges.

These goals are all very noble but be sure to steer clear of some of the financial hazards that could offset, or even completely derail your good habits in 2018…

New Year’s Eve

You may scoff, but after the traditional spendathon that is Christmas, do you really need to make it a one-two-punch with a pricey (and inevitably underwhelming New Year’s Eve). Restaurants, bars and clubs hike up their prices (sometimes so that they can pay their employees extra for their hard work but mostly just because they can) and some of us over compensate for this in some less than helpful ways. Loading up on booze before hitting the town is never a good idea. Not only will your tipsy state make your relationship with money more laissez faire, you’re more susceptible to trips, slips, falls and other wintry hazards which could injure you in ways that prevent you from earning money to recover from your festive spending. You may want to spend your New Year’s Day talking to a professional like Scott Gottlieb personal injury lawyer… but they’d probably much rather be with their families. Be money smart by limiting your activities (and your alcohol intake) this year.

Post-Christmas Sales

Seriously. You’ve just had Christmas. What more could you possibly want? The seasonal appetite for spending has been stoked beyond the normal spike created by Christmas with such manufactured occasions as Black Friday and Cyber Monday. You really don’t want another excuse to wreak havoc with your carefully planned finances do you?

Over-bullish investments

If your finances have made significant gains in the previous year, you may start 2018 with a buoyed sense of confidence. This is great, just try not to get too bullish with your investments. Many markets are in a strange state of flux at the moment especially with a whole lot of new regulations set to hit the financial services industry in 2018. Just look at the recent spike and slump in the value of Bitcoin and you’ll see what I mean. Keep your investments conservative and spread over a diverse portfolio until the markets see some hints at stability. You may not reap huge dividends but you’ll be insulated against risks. And risks can hurt you more than gains can help you in the long term.

Financial Habits That Everyone Should Adopt In 2018

Financial responsibility should be a priority at all times. Still, January 1 signals the start of a new chapter and is the perfect time to embrace improved habits for greater long-term stability.

It doesn’t take too long to adopt new habits. In fact, getting a head start now could put you well on the way to achieving greatness by the time 2018 arrives. Let’s take a closer look at some of those most rewarding ideas.

#1. Make Money Work Harder

It’s a sad reality, but most people don’t earn nearly as much money as they’d like to. Therefore, supplementing your career earnings with external revenue is key. The realm of investments can be a volatile one, but also has the potential to be very rewarding. Overhaul your strategies in 2018 to see your personal wealth grow at a quicker rate than any bank account. In turn, both the immediate and long-term financial situations will look better than ever.

#2. Make Money Last Longer

As well as growing your capital, you should look to get more bang for your buck. After working so hard to earn cash, allowing it to leave your pocket any quicker than it should would be nothing short of disastrous. Services like couponmom.com enable you to reduce weekly shopping bills. Similarly, comparing everything from car insurance to cell phone provider helps too. Reduce overheads without sacrificing your enjoyment, and you’ll notice the difference in no time.

#3. Stop Wasting Things

There’s nothing quite as frustrating as losing money. Unfortunately, most people are far more brazen with their assets. Simple ideas like upcycling clothes or selling unwanted goods will boost your financial health. Likewise, buying used items, ranging from cars to fancy dress outfits, can promote a better bank balance. One way or another, giving them the same level of attention as cold hard cash is essential.

#4. Borrow Money In A Responsible Manner

It’s very common to take on debt in this life. This could come from buying a home or car on finance. Alternatively, you may have fallen behind on payments due to unforeseen circumstances. There’s nothing wrong with borrowing money, but you must do so in the most efficient manner. Even with short-term lending, visiting best.creditcard can have a telling impact on interest rates and payments. If taking extra care here promotes greater financial stability, it has to be worthwhile.

#5. Monitor Things

Organizational skills and financial control bring many benefits. Managing payments ensures that you escape needless charges while allowing you to maintain a budget. Better still, you can easily pinpoint areas where you require cutbacks. If nothing else, it removes the element of surprise which often causes major problems for personal finances. Besides, being prepared for the worst also means any work bonuses or extra funds become far more rewarding.

Embrace those habits over the coming weeks, and 2018 should present a healthy boost to your financial situation. Regardless of your background, this is something that will surely make next year feel better than ever.

3 Ways To Get The Most Out Of Your Money

Looking to make that extra cash?

There are many ways out there for you to make more out of your money, so why not give it a try? We’re going to look over a few of the ways you can make money without working, and just investing. Usually, you wouldn’t look for this kind of opportunity if you have a tight budget, as it may take quite a large start-up investment. So be prepared to fork out some of your savings if you want to get your income started.

The way investing usually works is, the more you can put into it, the more you can get out of it; which is what we’re going to go over below, so look out for the method that would suit you and your budget the most.

Real estate

It’s quite common for people to invest in real estate, as there is money to be made with it. Real estate would definitely be one of the most expensive options you can pick when it comes to investing, but the more you can put into it, the more you can get from it; so take your time and pick the best place for you! There are many factors to consider when it comes to renting out a building (check over at http://www.yourfinanceformulas.com/2017/10/home-zone-how-will-you-buy-yours.html), as it doesn’t always have to be for residential use, nor does it have to be used for one singular tenant. Some landlords have their buildings turned into apartments, which in turn could generate more revenue with two tenants paying a percentage of the full price. You also need to make sure that the area is right for what you want to use it for, which can really affect the income you get. Typically, the nicer the area, the more you’ll have to pay for the building, that said, you should be asking for more from the tenants in return.

Commodities

Commodity trading can vary a lot in price, as you’re not really buying a fixed product. If you visit https://commodity.com/, you’ll see that you can invest in a great many things and many of which can come at either a cheap or expensive price. With commodity trading, it’s very important to do your research into what you’re buying, as you want to make sure you can make back what you spent on it, and some. You need to look into the demand of what you’re buying, and sustainability of it, otherwise you could end up out of pocket. For example, if you invest in Bitcoin, you want to know if the value of it is likely to rise, and you need to make sure that you’re not gambling blindly. Just like real estate, the more you put in, the more you can make in return, so pick wisely.

Shares

Just like commodity trading, you really need to do your market research. You’re not necessarily investing in a product as such, but a business as a whole. When you buy a share of a business, you technically become one of the owners, and you are liable for that percentage of the business. If the worth of the business increases, your share also increases, and the same as if the business decreases in worth. So make sure you know about the business’s activities, and learn where you’re putting your money.

Graduating Debt Free: Can It Really Be Done?

It's a very modern Catch 22. We recognise the value of a degree - not just for what it can do for our future career prospects and personal development but also for the value of learning in itself - but the crippling costs of tuition fees and independent living are excluding many people, especially those from less privileged backgrounds, even as targets are set to try and increase the diversity of university populations. But is it possible to gain an education without emerging crippled by debt? We take a look…

Finding Scholarships

Scholarships and bursaries are the surest route to take of the majority or all of your tuition costs - but how do you know where to start? What’s available to you is highly specific and depends on the course you study, the institution you choose to study at, your personal circumstances, interests and abilities. Start by taking a look at a scholarships portal or contact universities you are interested in to scope out what’s available. Start your search early, as many schemes will have strict application deadlines. As your credentials and predicted grades will change over time, check regularly for new schemes you may become eligible for. It may also be worth checking in with charitable foundations that support education, particularly if you have a religious affiliation.

Employer-Sponsored Subjects

If you are interested in certain subjects where there is a big demand for knowledgeable graduates, such as engineering or business management, you may be able to find courses partly or wholly sponsored by the employer. Imagine- a tuition-fee free degree! They usually come with a condition of employment attached as well, solving the dilemma of finding that first graduate level job. Many will include practical modules working in the business which gives a solid practical experience. But you may have to be flexible on exactly what you study and specialise in. Graduating with no debt, earning a higher than average graduate salary is certainly worth looking at a change of subject for!

Working life as a student

Depending on your course of study, you may be able to combine working and earning a salary with your other commitments. A wide range of subjects offer the option to take the course part-time, leaving time for work as well. If you’re already in a job, there are complementary degree options from postgraduate business qualifications to a policing program designed for actively serving police officers - so learning can fit around the job. Many students choose to study full time and then work in part time jobs that fit around their study too- but this is a choice that needs to be carefully managed as it can lead quickly to burnout.

Whichever route you choose, studying without being saddled with debt is difficult- but not impossible. If you’re committed, a little flexible in your choice of degree and just after the quickest route into a well paying graduate job, with a little research and hard work it’s possible to get that mortar board without a loan statement attached.

10 Financial Services You May Not Know You Need

When it comes to your finances, it’s safe to say that you usually know what you’re doing. Most of us know how much money we earn, and roughly how much our bills come to each month - even if it’s just because we tend to know what we have left to spend each month. Either way, it’s relatively easy to know where you’re at with your money without being a financial expert.

But if we were to take that idea one step further, and say that you’re generally incredible with your cash and you even have systems in place to make sure you do stay on top of things, you may consider yourself to be a bit of a financial pro. So much so that you don’t really need much help with how you handle things. But if that’s how you think, you’re more than likely wrong. Because most of us may require some kind of financial service without really knowing it.

Sometimes, the financial services we need are things that we could implement now just to make life much easier, and sometimes they’re going to be things for the future. And sometimes, they’re even things that could come in handy, despite never really knowing that we may need them. So, if you want to make your financial life even more efficient, here are the financial services you should consider taking on board.

An Accountant

When it comes to accountants, you’ll often find that people are all for them, or they’d rather do without. Even if you tend to fall in the latter camp, it may do you some good to realize that actually, an accountant is going to make your life much easier. When it comes to filing your tax return, it may take you hours and hours to do each year. Whereas hiring an accountant could be quicker and most-cost effective for you, as you can get on with other things as they do it.

A Financial Advisor

Next up, you may also want to consider taking on some financial advice. Again, this isn’t going to be for everybody, but it could prove invaluable to you. You may think that you know what you’re doing with your money, savings, and investments, but you may not be getting the most out of your money. With a skilled financial advisor, you’ll be able to maximize your savings and ensure that you’re getting the best return.

An Assistant

If you’re self-employed, you may also want to think about taking on an assistant. Because it doesn’t make a lot of sense for you to be spending all of your time working on your financials when you have other work to be doing. So, it will often pay for you to hire an assistant to handle, chase, track, and manage your finances for you, freeing you up to get on with your work.

Specialist Finance

Lots of people will require different kinds of finances in life, you’ve probably had a loan or mortgage in the past. But what about specialist finance? From working with a bail bond company to a business investor, you may not know it now, but they could be essential for your future. Because you may not always have access to the money you need for specific ventures.

Realtor

Then, there’s also a realtor to think about. And before you say that technically they’re not a financial service, they are there to help you sell your house and they want to help you make as much money as possible. There are many benefits of working with a real estate agent, but their expertise is always one of them. Not only will they help to maximize your properties worth, but they can also manage any rental property you own which can make it more efficient for you.

Insurance Broker

Next, there’s also an insurance broker. This is going to be a particular service you should take advantage of if you have lots of different insurance needs. From health to home to business to car, and more, you may find that having an insurance broker to handle the policies for you means that you can get them cheaper overall.

Specialist Dealer

Again, we have another service here that isn’t quite a financial service as such, but it’s there to make you money - so we’re going with it. And it’s the service of a specialist dealer. Should you be interested in collecting things like art or jewelry, you may wish to sell certain pieces at some stage, and this is where the specialist will come in. As they will have the expertise and connections that will allow you to get the most money for your sale.

International Bank Account

From here, it’s the on to the idea of your international financial affairs. Because if you work overseas, or have some international interests, then you may find that you won’t be getting the most out of your money by constantly transferring between currencies. So, you may want to work with an international bank for this exact reason. With an international account, you won’t have to keep losing funds when exchange rates are poor.

Cryptocurrency Advisor

With talk of international transactions, it then leads us nicely to the idea of cryptocurrency - which is taking the world by storm. It’s proving essential for international transfers due to the lack of fees. But, if you want to get involved with cryptocurrency, and you have no idea what you’re doing, or you just don’t have the time, you may want to consider working with a cryptocurrency advisor.

Financial Software

Finally, you may also want to consider taking up the use of financial software. Staying on track with your finances is only easy if you’re organized and you stick at it. But we don’t always have the time to do this ourselves. And while you may not want to hire someone as point three suggested, you may choose to work with a software service instead. This could streamline your financial life and make it so much easier to manage.

3 Tips To Get Through Tax Return Season

Filing your tax return is boring, thankless task that takes up valuable time. However, it does not need to be so painful. Here are some helpful tips for getting your tax return done.

Records

You should be keeping records of everything. You need to know the exact amount of income you have had over the year as well as any business expenses. These can be stored in a spreadsheet for ease of access and backed up to prevent data loss. If you keep these records up to date throughout the year, then when it comes down to file your tax return you are prepared and know exactly what your finances have been throughout the year. You can use something like Google Sheets to automatically tall various columns and sums together so that you have even less work to do. If you look on the Internet or through Microsoft Office, then you will be able to find templates for tracking and monitoring all your incomings and outgoings. This will be helpful in your daily life and not just when filing your tax forms.

Use Automatic Generation

There are a lot of free online calculator services available on the internet which can automatically do parts of your tax return for you. If you have employees, then one example is getting your W2 forms automatically completed. This needs to be sent to your employees each year, and it breaks down their annual wages and tax payments. If you have other people’s tax to worry about, then something like this can save you a lot of time. Plenty of these kinds of sites make the W2 form 2017 printable, so you do not need to worry about making it fit to a certain page size. There are other sites that can automatically tally up your income similar to what is done through a spreadsheet as mentioned above, but they can go into more detail and provide the exact information that you need. Doing a bit of research could end up saving you a lot of time.

Start Early

There is nothing worse than having a deadline loom over you and for you to not have enough time to complete your forms. If you start early, then you will not get into a situation where you need to rush through them in the last few days. This will help to prevent any mistakes and errors when submitting your tax return and it will make the entire process far less stressful. If you start early, then you can set aside an hour a week to work through it and by the time the deadline comes around you will have finished ages ago. Taking this approach is especially effective if you often struggle with understanding and remember what needs to be done when filing your tax. This is because it allows time to seek advice and work your way through all of the requirements. Starting early can save you a headache and make the entire process far less annoying.

What You Can Buy with Frequent Flyers Points

Have a lot of frequent flyer points but don’t know what to do with them? If the answer is yes, you have come to the right place. In this article, we will discuss the things that you can buy with frequent flyer points.

Booking a Flight

One of the most obvious ways in which you can use your miles is by booking a flight. It is recommended that you use these points for an expensive long distance flight, instead of a quick local flight that you can otherwise afford to pay for. It is recommended that you book it as early as possible, in order to get the best value for your points. If you aren’t sure how the point system works, it is recommended that you check out Pointsbank to increase your knowledge.

Use Them to Get an Upgrade

Another great way in which you can utilise your points is by using it to get an upgrade to business or first class. However, before you take any decision, it is recommended that you study airline alliances, so that you can make an informed decision. 

Add a Destination

You can enjoy a free stopover and visit that one city or country that you always wanted to go to. Most airlines allow you to do this, but again, it is a good idea to do your homework first. 

Use It as a Gift 

You can use these points to gift someone a free trip. Such gifts are always special, as it gives a new graduate the chance to explore the world, or newlyweds the chance to add a new destination to their honeymoon itinerary. You can also send other presents like flowers, by purchasing it from the airline’s website in lieu of your points. This is not recommended but it’s still an option you can consider.

Shop with Miles

A lot of people don’t believe in using your miles for merchandise, but there is no harm in checking it out. This is suitable for people who can’t take a trip and are getting near to the expiry date of the points. It’s better to buy something than waste your points.

Donate Your Miles to Charity

If you won’t be using your points, you can donate them to charity or welfare services such as Make-a-Wish - they help sick kids to travel to a place of their choice. 

Use as Employee Perks 

Another option is to use these miles as employee perks or rewards. 

What Not to Do with Your Frequent Flyer Points

Here is what you shouldn’t do with your frequent flyer points:

• Using them for auctions.

• Using these miles for hotel stays. 

• Using them for club lounge access.

• Using it for cheap flights. 

• Letting them expire.

• Waste them on fuel surcharges. 

So, there you have it. These are some of the things that you can buy with your frequent flyer points.

All-In-One Finances For The Busy & Bored

For a very long time, money has sat at the very heart of human society. Driving people to do great things, enabling businesses to create their goods, and even putting people into space, this resource is incredibly important. Of course, though, this doesn’t make it any easier to manage. Most people struggle with this part of their life the most, and it can feel very overwhelming when you’re in trouble. So, to help you to avoid this situation, this post will be exploring the idea of putting everything in one place and someone else’s hands.

The Improvements You’ll See

To begin, it’s a good idea to think about the sort of improvements you could get from this sort of action. Not a lot of people realize how much of a difference their money management can make in their life. Below, you will find examples of some of the biggest benefits.

Time: Keeping your finances in order can eat up loads of your precious spare time. This leads a lot of people into ignoring their money, leaving it to be solved another day. By putting your money into someone else’s hands, you will remove both of these problems, while also improving other areas.

Stress: Most people’s biggest financial concern is uncertainty. If you don’t understand money fully, it can be hard to keep it safe and secure, and a lot of people will find this incredibly stressful. To avoid this sort of problem, giving someone else the power will take loads off your mind.

Success: Of course, more than anything else, having a professional in charge will also improve your chances of success in the world of money. Your decisions will be made by someone in the know, reducing the risk that the wrong ones will be made, while also keeping you up to date with everything important.

Avoiding Issues: When people are left in charge of their own finances, there are loads of little things which can go wrong. By having someone else in control, overspending, borrowing, and investing mistakes will be a thing of the past. You won’t even have to do any learning.

Achieving The Dream

Getting this sort of relief in your life is just a matter of doing some research. Companies like efpgeelong.com.au can handle almost every aspect of your money, from your very first home to the pension you survive on when you’re older. Along with this, support from your bank can be very helpful, as it will usually be free. Of course, though, you’ll need to do plenty of research before you can choose the option you go for, using blogs and forums to give you a hand.

Hopefully, this post will inspire you to start taking more of your financial work out of your hands. A lot of people ignore this sort of support, choosing to handle everything on their own. Of course, though, it doesn’t have to be this way. Instead, you just need to find the right tools to help you out, along with putting your trust in someone else.

Handling the 3 big Spenders in Life

Unless you are thinking big business and making major investments for tens of thousands on a weekly basis, chances are that the main big spendings in your life are going to be the same as most other people’s. No one wants a to have a budget wedding in a rundown venue with dirty drapes and a shortage of food and drinks. Everyone would prefer to have that moment remembered in their heads as a very ceremonious and special moment. Another thing no one really wants to cheap out on is a house. Getting a mortgage is something most people are going to go through at one point in their lives and when spending a large sum of money, a relatively small sum does not make that much difference. Then there is the one that is purely dependant on your personal needs and wants. a car. Nearly anyone can go and buy a car without much issue, but a lot of those people would rather get either a nice, comfortable, spacious car for the whole family. Alternatively a sleek modern sports car which is sure to turn heads. No matter which of these you are thinking of investing in first, chances are you will want to be money-wise, not letting your hard earned money go to waste for no reason. Let us look at some of the ways in which you can cut costs and not make silly typical mistakes on the 3 spenders.

The House

If you are the average joe, with a decently paying job but nothing out of the ordinary which would have you flying to Vegas every other week, you probably would like a house which does is nothing to scoff at, but it’s no villa in the Hollywood hills. Probably something cosy, relatively spacious with a good connection to the city. Even then, it will probably cost you more than a pretty penny. Now there is no need to hurry with this, presumably you will not be buying more than 1 house for yourself so let’s make this one count. Before actually laying down the cash or taking out that loan from somewhere like this personal lending site or a bank, you should be researching the trends in property prices. Be this in the city or town you live in, or somewhere else which would be a great place for your dream home. Paying attention to the prices of properties fluctuating gives you a great opportunity to buy at a moment where everything is considerably cheaper. This just opens the door to a better start from the get-go, putting you in a better position than most buyers in your situation.

Before buying, check out the house thoroughly. Make sure to pay attention to everything, don't fall for the usual tricks of the estate agent where they “only have time during the day”. Make sure to thoroughly explore the house during the day, and the night. See if the sun really does rise in front of your bedroom window, see if the house isn't dark and gloomy but well lit and spacious during the day. At night, see if nothing suddenly looks considerably worse. Do the ceilings not feel strangely low? Does the paint used for the walls not look discoloured when it is dark? If so, it may lead to extra fees from your side, repainting everything usually not only takes time but also drills a hole in your pocket due to the sheer amount of paint needed to cover everything. Calculate the real cost of buying the house, all the fees that come with the house might as well just be added onto the price tag in the first place. Carefully look over the walls, for any cracks, deformations or weird “bumps” which are often caused by moisture and damp air in the house. Damp spots on walls, in corners and wherever else are usually a big concern as they tend to house mould. Removing mould in itself is a huge order and cannot really be done through regular home means, needing the involvement of a third party and paid professionals. And yes, it is most definitely worth getting rid of mould, not only does it look unsightly, it also poses a plethora of health risks to you, your partner and potential future children. If you want to read more about things to keep in mind when buying a house, look no further than this comprehensive guide.

The start of the beginning of your new life

As aforementioned, no one wants to have a shoddy two-bit wedding where you are too ashamed of the venue to even invite guests to it. Another thing no one wants is to put all their life savings into the wedding alone. There are some smart ways to cut costs on a wedding without necessarily needing to lower its overall quality. When booking a venue, make sure to look how much the prices differ out of season. Hiring a venue is almost always considerably cheaper outside of summer, booking in advance also helps to lower the price-tag quite a bit. If you want to go through with hiring a photographer for the occasion, then consider hiring them only for crucial moments of rather than the whole day. Think about what you need and don't need from the leftovers, if you have an overabundant amount of tablecloths which you will probably never use afterwards, sell them online. Got some questionable presents which you know have literally no use and will just clutter up the house? Get rid of those too. This not only frees up space in your new house, but allows you to make back a decent chunk of the money with not much effort. Once again there are many other ways of going about this, there are some more listed here if you want to keep investigating.

Family transport or car of your dreams?

Cars are a common enough commodity in the world that there is almost an overabundance of chances to save on them. If you know where to look that is. There are lots of choices when it comes to savings accounts for cars, or loans and just about anything you can think of. Websites like Money Saving Experts, Money Supermarket or Which?, are a great starting point for seeing how much money you’re going to have to work with, or how much you are willing to get a loan for. This allows you to start looking within a more specific price range rather than at the overwhelming amount of cars on the market. Go for a car that fits your needs, are you after a car that is good for city use? Does it have to be very fuel efficient or Eco-friendly? Cars with better fuel consumption obviously save you more money in the long run and also tend to last longer. Petrol cars are also usually cheaper than diesel ones, much like manual cars being cheaper than automatic ones. The running trend being able to buy for cheaper during specific times carries over from the housing and wedding scenario. Try to avoid weekends near the start of the month as they are usually packed to the brim with people who just got paid and want to finally make the jump. Sellers often take advantage of that and bump up the prices a bit knowing it’s easier to convince very excited people to buy rather than calm and composed ones.