Wednesday, November 29, 2023
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How to Handle Volatility?


Everything in life is unpredictable. You can’t quite be sure of anything, can you? That’s just how things were. If predictions were real, by now, we could see billionaires everywhere. Just like that, the stock market also has volatility. Here, you would have to be careful about how things work.

So, here we go – let’s learn what to do when the stock market is volatile.


Tips to Handle Volatility

a) Your Financial Goal is Always Plan A

That is the most important thing for you to remember. If you look at the VIX chart for the previous nine years, you will notice that it has been on a downward trend. However, in the interim, there have been at least 8-10 occasions where volatility has surged significantly.

The main concept is to stick to your long-term financial plan. This strategy is geared towards your long-term objectives and has some built-in safeguards to deal with volatility. The systematic investment plan (SIP), for example, is intended to capitalize on market volatility.

Since SIPs are the foundation of your financial strategy, they are critical to ensuring that the power of compounding works in your favour. If you look at the performance of SIPs over the last nine years, they would have significantly exceeded the index since they have taken advantage of market volatility.

Even if you find the best-performing trading platform in India, when you don’t stick to your financial goal, it is all just moving in a directionless form.


b) Futures and Options Can Benefit You

Futures and options are viewed by many investors as a low-margin alternative to cash market trading. They are, in fact, superb risk management products. These derivative products should be used most effectively in volatile markets.

For example, if you are long on equities in a volatile market, you can use futures to lock in profits while still benefiting from roll premiums. Second, you can utilize put options to hedge your risk, as well as beta hedging with index futures to mitigate portfolio risk. If you are wholly willing to be a little more daring and aggressive, volatility tactics such as straddles and strangles can help you make the most of tumultuous markets. In unpredictable times, you truly have a lot of options.

c) Go Far and Beyond with Diversification

Understand that there is no Best trading platform or one-suits-all solution. So, expansion is the only way.

When markets are volatile, how do you manage your asset mix? During volatile times, certain assets do not exhibit the same degree of volatility as equities. When equities indexes are turbulent, debt markets, for example, tend to be more stable. As a result, debt in your portfolio brings stability and the promise of consistent income.

Similarly, gold typically gains from macroeconomic volatility. In these turbulent times, increasing your exposure to gold through gold ETFs can be beneficial. The moral of the story after all is to keep your asset mix diverse in order to fight volatility.

d) Stay Strong on that Emergency Fund

Your emergency cash savings act as a financial buffer during difficult times or when unforeseen needs arise. The conventional wisdom states that you need to keep three to six months’ worth of money on hand to meet any immediate requirements that may occur.

Consider increasing that to six-to-nine months or longer if you are experiencing economic hardship or the nature of your profession. It will give you more financial flexibility to assist you in getting through difficult times.

e) Financial Professionals Can Help

To assist you feel confident that you are on track toward your financial goals, an experienced financial professional can assess your current plan or lead you through the process of building one.

Even if you are currently satisfied with your plan and investment portfolio, the economic landscape might change quickly. A financial professional can help you review your situation and change your plan as needed to protect or safeguard your financial position or take advantage of new market opportunities.

f) Don’t Run

In general, the answer is no (with some exceptions). Market volatility decreases, and prices rise over time. Maintaining a long-term plan through bad circumstances can also allow you to buy more stock when it is on sale. If you need the value of your assets fairly quickly or income to live on (for example, if you’re a retiree), it may be better to rotate out of stocks and into more conservative investments when volatility occurs.

g) Know Your Risks

Your investment approach is heavily influenced by the level of risks that you are willing to take. You will wish to from time to time.

h) Rebalance

Because market volatility can produce abrupt changes in investment prices, your asset allocation may deviate from your desired divisions following periods of intense fluctuation in either direction.

During these periods, you should rebalance your portfolio to bring it back in line with your investing goals and the level of risk you prefer. When you rebalance, sell some of the asset class that has grown to take up a larger portion of your portfolio than you’d like, and use the proceeds to acquire more of the asset class that has shrunk. When your allocation deviates by 5% or more from your original target mix, it’s time to rebalance.

You should also rebalance if an asset class has a divergence of more than 20%. For example, if you want emerging market equities to account for 10% of your portfolio but discover that they account for 8% or 12% following a significant market move, you may want to adjust your holdings.


Final Note

You could never know what is in store for you – so be ready for it all. This guide could help you know what exactly to do when the market is volatile.


How to Get a Credit Card for an LLC? The Complete Guide


As a business owner, having a credit card for your LLC (Limited Liability Company) can be a convenient way to manage your business expenses and build credit for your company. However, getting a credit card for your LLC can be a bit more complex than getting a personal credit card.

Why do you Need a Credit Card for your LLC?

A credit card can be a necessary tool for LLCs for the following reasons:

Separating Business and Personal Finances

LLCs are separate legal entities, which means that they have finances that are distinct from the owner’s personal finances. Using a credit card specifically for business expenses makes it easier to keep track of business expenses and prevents the commingling of personal and business finances, which is essential for tax purposes and financial record-keeping.

Cash Flow Management

A credit card can help LLCs manage their cash flow effectively. For instance, if an LLC needs to purchase inventory or equipment but does not have the cash on hand to make the purchase, a credit card can provide a revolving line of credit that allows the business to pay for these expenses over time.

Rewards & Cashback

Many credit cards offer rewards programs and cash-back incentives that can benefit the LLC. These rewards may include points, miles, or cashback for purchases made with the card. This can be particularly useful for LLCs that make regular purchases for their business.


Steps to Get a Credit Card for an LLC

Let us check out the steps to get a credit card for your LLC.

Obtain an EIN (Employer Identification Number)

The first step in getting a credit card for your LLC is to obtain an EIN from the Internal Revenue Service (IRS). An EIN is a unique identifier assigned to your LLC for tax purposes. You can apply for an EIN online through the IRS website. You will need to provide information such as your LLC’s legal name, mailing address, and the names and Social Security numbers of the LLC’s owners.

Open a Business Bank Account

Once you have your EIN, the next step is to open a separate bank account for your LLC. This will help you keep your personal and business finances separate, which is important for legal and tax purposes. You will need to provide your EIN, business registration documents, and personal identification to open a business bank account.

Build Business Credit

To qualify for a credit card for your LLC, you will need to establish a credit history for your business. You can do this by paying bills on time, maintaining a positive bank account balance, and applying for credit lines or loans. Building business credit can take time, but it is an important step in getting a credit card for your LLC.

Research Credit Card Options

Once your LLC has established a credit history, it’s time to start researching credit card options. Look for cards that are suitable for your LLC’s needs and credit history. Some credit cards offer rewards or benefits that match your preferences and needs, such as cashback, points, miles, travel insurance, purchase protection, or extended warranties

Apply for a Business Credit Card

Once you have determined which business credit card is best for your LLC, visit the website of the credit card issuer and fill out an application. Provide accurate and complete information about your LLC, such as your business name, EIN, address, and income. Wait for the credit card issuer to review and approve your application.

Use the Credit Card Responsibly

Once your LLC has been approved for a credit card, use it responsibly and make timely payments to avoid accumulating debt and damaging your LLC’s credit score. It’s important to keep your personal and business finances separate to avoid confusion and ensure that your LLC is properly protected.


Tips to Choose a Credit Card for an LLC

Selecting a credit card for a Limited Liability Company (LLC) can be a critical decision that can have significant financial and operational implications for the business. Here are some tips to help an LLC select a credit card that suits its needs:

Determine the Primary Use of the Card

The first step in selecting a credit card for an LLC is to determine the primary use of the card. This will depend on the nature of the LLC’s business and the types of expenses it incurs. For example, an LLC that makes frequent purchases of travel or office supplies may benefit from a credit card that offers travel or office supply rewards.

Consider the Interest Rates and Fees

It’s important to consider the interest rates and fees associated with the credit card. Some cards may offer rewards and benefits but come with high annual fees or interest rates. An LLC should choose a card that offers competitive interest rates and fees. Just as the LLC annual fees by state differ, high credit card interest rates and fees could be a burden in certain instances.

As the cost and fees of forming an LLC differ from state to state,

Review the Rewards Program

If the LLC plans to use the credit card for regular business expenses, it’s important to review the rewards program carefully. Some credit cards offer cashback on purchases, while others offer points or miles. An LLC should choose a rewards program that aligns with its business goals and offers the most significant benefits for its spending patterns.

Check the Credit Limit

It’s important to check the credit limit on the card to ensure that it is sufficient to cover the LLC’s expenses. An LLC should choose a credit card with a limit that is high enough to accommodate its regular spending but not so high that it puts the business at risk of overspending.

Evaluate the Customer Support

A credit card issuer with responsive customer support can be a valuable asset for an LLC. The card issuer should have a strong reputation for providing timely and effective customer support in case of any issues or concerns.

Check for Additional Benefits

Check for Additional Benefits
Some credit cards offer additional benefits that can be useful for an LLC. For example, some cards offer rental car insurance or travel accident insurance. An LLC should choose a card that offers benefits that are relevant to its business operations.

By evaluating these factors, an LLC can choose a credit card that is a valuable tool for managing its finances and supporting its business operations.


Final Thoughts

Getting a credit card for your LLC requires a bit of legwork, but it can be a valuable tool for managing your business finances and building credit for your company. Selecting a credit card for an LLC requires careful consideration of the card’s interest rates, fees, rewards program, credit limit, customer support, and additional benefits. By following the steps outlined in this article, you can get a credit card for your LLC and help your business grow.

Having a credit card can be an essential tool for LLCs, as it provides benefits such as building credit, separating personal and business finances, managing cash flow, convenience, and liability protection.



Factors That May Affect International Shipping Rates in Your Business

All shipping services are essential in the eCommerce industry since there are no other ways to deliver products to clients. While you may claim that consumers can pick up the products, this jeopardizes both parties’ confidentiality and safety. Furthermore, it is inconvenient for the clients, and with the current gas price, travelling across the country to pick up your goods would be prohibitively costly.

Shipping expenses are rising for businesses all across the globe. Rising delivery prices, particularly international freight charges, may be difficult for merchants and customers.

The cost of delivering items impacts every level of the supply chain. Hence price hikes to account for higher shipping costs are typical.

Many firms see high shipping costs as the most significant contributor to product prices and inflation. To ship products across borders as cheaply as possible, you must first understand why shipping prices are rising in the first place.


Package Price

A package value, often known as the Customs value, is the content value of a shipment that substantially impacts the price you are paid for shipping in eCommerce. Sellers that ship high-value items must insure their parcels, which raises the delivery cost.

In addition, the total monetary worth of all products in your shipment determines the import duty the recipient must pay. As a result, you should contact the postal service or the customs office to confirm that you are not shipping high-end merchandise.

Antiques, art artefacts, expensive rugs, porcelain, crystals, and record collections are examples of high-value things. You may come across a courier service that does not handle high-value products since they are prone to theft, loss, or damage.


Tariffs or taxes

A tariff is a levy levied by a particular country on an imported commodity at the border. Taxes help governments collect money while also protecting local manufacturers. This situation may impact your company if you develop your brand internationally.

Tariffs and taxes, in addition to the accessibility of most domestic products, play an important factor in why most customers purchase locally-made commodities. When you ship internationally, you must pay a fee before the shipment reaches its destination.

When shipping to a different destination country where you do not have a free trade agreement (FTA) to avoid customs and fees, unlike when sending to the United States, although there is little you can do about it, you may select a shipping company such as that provides cheaper shipping costs to compensate for foreign duties.


Fuel Prices

Fuel prices have soared for various reasons, including the war between Ukraine and Russia. These factors have an impact on you as a vendor as well.

If you’re wondering how fuel prices impact shipping charges, remember that, depending on the type of shipping service, gasoline costs may account for up to 60% of total shipment expenses. Worldwide fuel costs have already surpassed $100 per barrel for international shipping, significantly impacting shipping operations.

To maintain service standards, a shipping courier, whether international or domestic, must pay these expenses, which implies that the size of the package must also grow. If the UPS global shipping rate is also impacted, it is best to prepare for the worst to discover strategies to lessen the issue.


Dimensions and weight of the package

While larger goods tend to cost more, some organizations assess products by weight and parcel dimensions since certain items are transported in large boxes while being smaller in size for the shipment. Most couriers utilize this pricing strategy to optimize the space within the shipment container.

To save money on overseas shipping, ensure the package boxes have enough capacity to hold the contents; otherwise, you’ll have to pay extra. However, you may save money using shipping materials such as courier bags and Kraft envelopes for smaller products.


Distance between shipping and delivery

Shipping prices are also affected by the distance between the vendor and the customer. If the destination is closer to the branch, shipping costs will be lower, including UPS international shipping rates. However, the shipping charge will be greater if the location is farther away.

The computation begins at the package pickup point, usually the branch location, and ends at the recipient’s address.


Shipping Providers

Your shipping decision is the essential element influencing international shipping charges. Express shipping, such as priority mail international and priority mail express international, is more costly than regular or economy shipping since the arrival time is shorter.

Because the selected shipping service influences the delivery prices of the overseas cargo, following the best shipping strategy will help you locate the best shipping choice. For example, many businesses do not impose extra fees during the holiday season. However, delays are to be anticipated due to the high amount of products shipping around this period. As a result, the buyer may still need to choose the more costly shipping option, international priority, for the products to arrive on time.

A shipment schedule can prevent instances like these and relieve your clients’ financial hardship. You or your client do not need to choose the expedited delivery option since you specify exactly when you will send the products.


Shipping Security

Shipping problems are not commonplace in the shipping and delivery sector. However, the likelihood of their occurrence remains high. As a result, you must take all precautionary measures available to guarantee that nothing occurs to the items.

Aside from working with an overseas shipping firm, you may use shipment protection as a backup plan in case anything unexpected occurs. It will not refund your money but build trust between you and the consumer.

Build trust with your consumers since it will benefit your firm. Even the most respectable business and well-proven marketing plan have areas for improvement, so anticipate the buyer to be dissatisfied at times, despite the seller’s best efforts and earnest intentions. When you create trust, most consumers will overlook a mistake.

It may seem daunting with the costs, procedure, and everything else in between, but executing the correct approach will help you thrive in international shipping.



Tips to Help You Avoid Student Debt

As the cost of higher education continues to rise, many students find themselves struggling to pay for college. According to the College Board, the average cost of tuition and fees for the 2020-2021 academic year was $37,650 at private colleges, $10,560 for state residents at public colleges, and $27,020 for out-of-state students at public colleges.

The high cost of education often results in students taking out loans to pay for their college education, leading to significant student debt.

However, student debt can have long-lasting negative effects on a person’s financial health, including limiting their ability to buy a home, start a business, or save for retirement. Therefore, it is essential to take steps to avoid student debt as much as possible.

In this article, we will discuss practical tips to help you avoid student debt. Whether you are in high school, about to start college, or already enrolled, these tips can help you minimize your debt burden and set you on the path to financial stability. Let’s dive in!


Start with a plan

Before starting college, it’s essential to have a plan in place to avoid taking on excessive student debt. Here are some tips to help you get started:

  1. Research the cost of education: Research the cost of attending the colleges you are interested in, including tuition, fees, and living expenses. This information will help you create a realistic budget for your college years.
  2. Determine the funding options: Explore all your funding options, including scholarships, grants, work-study programs, and federal student loans. Be sure to fill out the Free Application for Federal Student Aid (FAFSA) to determine your eligibility for financial aid.
  3. Create a budget: Once you know how much college will cost and how much funding you have available, create a budget that accounts for all your expenses. This includes tuition, fees, textbooks, housing, food, transportation, and personal expenses.


Save money before college

Saving money before college can help reduce your reliance on student loans. We have some tips that can aid you in saving money.

  1. Work and save money during high school: Consider getting a part-time job during high school to save money for college. Every dollar you save is one less dollar you’ll need to borrow.
  2. Look for scholarships: Apply for as many scholarships as possible. Many scholarships are available based on academic merit, extracurricular activities, and other criteria. The cheap essay writing service offers a scholarship essay writing service to help you increase your chances of winning scholarships.
  3. Attend community college or trade school: Consider attending a community college or trade school for your first two years of college. These institutions often have lower tuition and fees, and credits earned can transfer to a four-year college or university.


Make smart decisions during college

To decrease your college expenses, it’s advised to make intelligent decisions while in college. To make the most of your college experience, consider the following suggestions:

  1. Choose an affordable college: Consider attending a public college or university or an in-state private college to save money on tuition and fees.
  2. Live off-campus: Living off-campus can be cheaper than living in a dormitory. Consider sharing an apartment with roommates to reduce your living expenses.
  3. Work part-time: Consider getting a part-time job during college to help cover your expenses. Be sure to balance your work and academic responsibilities.


Minimize expenses while in college

To reduce your overall college expenses, it’s a good idea to cut down on your spending while in college. Check out these saving tips:

  1. Buy used textbooks: Buy used textbooks or rent them instead of buying new ones. You can also look for digital versions of textbooks to save money.
  2. Use student discounts: Many businesses offer discounts to students. Always ask if a student discount is available before making a purchase. 
  3. Avoid unnecessary expenses: Be mindful of your spending and avoid unnecessary expenses, such as eating out or buying expensive clothing.


Stay in communication with your lender.

To effectively handle your student loans, it’s crucial to maintain regular communication with your lender. Here are some suggestions to assist you in managing your student loans:

  1. Know your loan terms: Understand the terms and conditions of your student loans, including the interest rate, repayment period, and repayment options.
  2. Stay in touch with your lender: Keep your lender informed of any changes in your contact information or financial situation. If you’re having trouble making payments, contact your lender to discuss your options.
  3. Consider loan consolidation: Consolidating your student loans can simplify your payments and may lower your interest rate. However, be aware that consolidation can extend your repayment period, which may result in you paying more interest over time.


Final words

In conclusion, taking steps to avoid student debt can have a significant impact on your financial future. By implementing the tips discussed in this article, you can minimize your reliance on student loans and reduce your overall college costs.

By being proactive and mindful of your finances, you can set yourself up for a more stable financial future and focus on achieving your academic and professional goals.



How to Find Homeowners Insurance by Address


Homeowners insurance (HOI) is an important part of owning property. Coverage may help you cover losses from thieves or help you get reimbursed for medical bills if you happen to slip and fall. Therefore, it’s important to know what HOI is, how it works, and how to find out information about policies in your area.

Thankfully, it’s not hard to find information about homeowners when you use an address lookup tool. Additionally, you can reach out to members of your community or look for more information. We’ll show you the fastest ways below.


What Is Homeowners Insurance?

Homeowners insurance (HOI) is a type of insurance that’s available for people who own homes or properties. Typically, it’s a single-premium insurance plan that covers property insurance and liability.

Depending on the insurance policy, damage from pets or severe weather may also be included in an HOI plan. Understanding what HOI is and how it works may help you determine the cost in your area.


How Much Does HOI Cost?

The price of HOI varies depending on where you live, the size of the home, and the type of coverage available. Another factor is how much it costs to rebuild a home if it becomes ruined by damage like fire.

HOI may also vary based on special provisions like an insurance for war, floods, and severe weather. Insurance for damage caused by pets will also raise the premium.


Does Everyone Have HOI?

No, some homeowners may not have homeowners insurance. Legally, residents aren’t required by law to insure their homes, so there may be cases where people don’t have a policy.

That said, most companies that provide mortgages require homeowners to enrol in insurance plans to prevent a loss of capital if something happens. Additionally, mortgage insurance is also available for similar purposes.


How to Find Information About Homeowners Insurance?

Information about someone’s homeowner’s insurance is not always available in the public record, so you’ll have to contact them if you want to file a claim.

While it’s hard to find information about a specific HOI policy, it’s possible to estimate the cost of HOI or what policy types are available in an area with a public records search tool.


How to Find Information About HOI Policies in Your Area?

When it comes to public record search tools, you want to use the best possible tool. So, you’ll want databases that include accurate information that’s current or within at least one year. This is where comes into play, which is our favourite address lookup tool.

Information’s website has an address lookup tool that allows you to find information about an address. When you enter an address into the tool, you can learn about who lives there, estimations on the value of the home, and much more. Therefore, you can deduce some information about potential HOI policies and their cost in your area.

What’s more? It reveals additional information about properties.

You can find the following information about an address when you run a search with

  • Owners of the home
  • Past owners of the home
  • Sex offender status of residents
  • Criminal records of residents
  • Court records of residents
  • Liens on the home
  • Purchase records

You may find some or all of this information when you look into an address.


How to Find HOI Policies Online?

Another way to find details about an HOI policy is online. It’s possible to Google policy providers in your area to learn about potential insurance plans.

Calling the company or visiting their website will provide you with the specific details you’re looking for. Online forums and other resources on Google will also help you find information about HOI in your area.


Find Information About Homeowners Insurance Today

Homeowners’ insurance is an integral part of owning a home. Without coverage, you’re liable for stolen goods, property damage, and other expenses like damage from severe weather. Therefore, it’s important to consider the options you have available in your area to find the best homeowners insurance that fits your needs.

To help you narrow down your search, public record search tools like will help you find common policy information in your area.



Understanding Freight Accounting and its Benefits


As a shipping company owner, freight accounting helps you keep track of the costs of sending goods from one place to another.

You can sometimes send a product from a warehouse where it’s made to the company’s warehouse that sells the product. You can also send the product from a manufacturing company to a store or directly to the customer.

Regardless of how you send your products, paying close attention to freight accounting is vital as it will help you know about all the costs involved. Freight accounting will also help you know how your business is doing.

freight accounting infographic showing shipping box on belt


How freight accounting is important to your business

Freight accounting breaks down the amount of money your business spends shipping and receiving different products.

Some of your company’s freight costs may be negotiable or changeable, which could help you save money, while others are fixed, and there is nothing you can do about it. Your accounting team needs to track freight costs accurately to find these areas.

If you have a full picture of how and where you spend money, it’s easier to develop ways to improve efficiency and cut costs.

Knowing the health of your business also gives you peace of mind as you know what you need to do to keep your business operational.


Freight accounting best practices

If you have a shipping company such as and freight accounting is a significant part of your business, there are several things you should do to have a great time and save your company as much money as possible. Some of these things include:

Have a separate shipping account

To avoid mixing things up, you should set up a separate shipping account that is easy to access and manage. You put in all the costs of sending goods to customers or other businesses here.

Play by the law

Also, it’s crucial to ensure that your company’s shipping and accounting practices align with all laws, such as tax and environmental laws. A good rule of thumb is to ensure that your business:

  • Keeps accurate records of your money.
  • Sends all the necessary paperwork to the government.
  • Obtains any relevant permits.
  • Maintains records in a safe place.
  • Checks the records often.
  • Implements controls to safeguard data.
  • Stays up to date on all the rules in your city, state, and country


Prepare your accounts once a month

Cash flow statements, forecasts, and income statements should be made often, ideally at least once a month.

The reason for this is that as a logistics company, you have a lot of transactions, and it’s important to stay on top of them to keep the company’s finances in order and reduce risk.
Having up-to-date accounts will help you make better decisions and ensure you always have up-to-date information about how your business is doing.

Count your earnings only when the product reaches the customer.

You should only count money as income once all of the conditions in your contract with the customer have been met.

The contract will say what the shipping or transportation company needs to do to meet its obligations.

The related revenue should be counted either over time or at a certain point, depending on when control of the good or service is given to the intended recipient and what it is.

For example, a cruise ship should record revenue over time as the customer gets and uses the service.

A delivery company should count revenue when the customer receives the goods.


Follow the International Financial Reporting Standards (IFRS)

The International Accounting Standards Board puts out IFRS, which are accounting rules you should follow in your business.

The organization guides companies in making and sharing their financial statements in a way that is true, fair, and comparable to how other organizations worldwide do the same.

The standards are based on principles that provide a global framework that many see as the best way to do things.

The IFRS is critical for logistics and transportation companies because many work internationally and do business across borders.

A common set of accounting standards also makes it easier for investors to understand a company’s financial statements and spot investment opportunities.


Follow the laws in your area

As mentioned above, logistics companies should follow not only IFRS but also any local rules important to their business and how it works.

Logistics and transportation companies often work in more than one country. Because of this, you must know the laws in all the countries where you operate and the laws in the country where you file the annual reports.


Make use of modern accounting software.

Many businesses still use outdated accounting software that can’t meet their needs in the modern business world.

Companies are dealing with a growing amount of data that needs to be processed, recorded, and analyzed correctly so that it can be helpful to anyone who might use it.

Outdated accounting systems can only handle small amounts of data, making it hard to make good decisions and save time.

Newer accounting software that runs in the cloud has many valuable features, such as AI and business intelligence.

These more advanced systems can automate manual tasks, help people work together, and connect to other business systems to make them more efficient.

Cloud-based systems can benefit any logistics company dealing with a wide range of transactions and many moving parts.

While there are many companies you can get software programs from, each company is unique to the other.

A good rule of thumb is to take your time to research and find a reputable company with the software you are after. Working with a company specializing in software programs for shipping and logistics companies will even be better.

Besides the cost, support is another vital factor to consider when buying software. You want to get your software from a company you are sure will support you should there be a problem.

The last thing you want is to want to handle the accounting tasks, yet you can’t use the software because it’s faulty, and you can’t access the necessary support.
A good rule of thumb is to work with a company providing 24-hour support on its programs.



Alternatives to short-term loans


Short-term loans come in a range of forms, with one of the most popular being payday loans. They are a quick and easy way to get cash when you need it and can be helpful when faced with an unprecedented expense or emergency.

However, these loans can come with high interest rates and fees, making them a costly option for many people. Below, we will explore some alternatives to short-term loans that may be more affordable and less risky so you can still benefit from funds when you need them.

stock image for alternatives to short-term loans


What are short-term loans?

Before we dive into finding out what some of the most popular alternatives to short-term loans are, it helps to get to know more about these loans themselves. Short-term loans refer to a type of loan that is typically repaid within a short period of time, usually between a few weeks to a few months.

These loans are designed to provide borrowers with immediate access to funds to cover unexpected expenses or emergencies, for example, a broken boiler or an urgent car repair. Short-term loans often come with higher interest rates and fees compared to traditional loans, as they are considered a higher risk due to the shorter repayment period.

They can be obtained from a variety of lenders, including banks, credit unions, and online lenders, and can be used for a range of purposes. It’s important that borrowers think carefully about the repayment period that their chosen lender requires so that they can decide whether they are able to afford the loan.


Who can benefit?

So, who can benefit from these types of loans? Short-term loans can be helpful to a wide range of individuals who are in need of immediate funds to cover unexpected expenses or emergencies. This may include individuals who have experienced a sudden job loss, unexpected medical bills, or a car breakdown.

Small business owners who need quick cash flow to cover payroll, inventory, or other expenses can also benefit from short-term loans. Additionally, those with poor credit scores who may not qualify for traditional loans may find short-term loans to be a viable option as the approval requirements tend to be more lenient.

However, it’s important to note that while short-term loans can provide immediate relief, they often come with higher interest rates and fees, so as we mentioned previously, borrowers should carefully consider their ability to repay the loan before taking on any debt.


Credit Cards

The first alternative that could be helpful is credit cards. They offer a revolving line of credit, which means you can borrow money as you need it up to a certain limit that you can set yourself.

Many credit cards also offer 0% introductory interest rates, which can be a great way to save money on interest charges. However, it’s important to be aware that credit card interest rates can be quite high, so paying off your balance in full each month is important to avoid accruing interest and damaging your credit score.


Personal Loans

The first alternative that could be helpful is credit cards. They offer a revolving line of credit, which means you can borrow money as you need it up to a certain limit that you can set yourself. Many credit cards also offer 0% introductory interest rates, which can be a great way to save money on interest charges.

However, it’s important to be aware that credit card interest rates can be quite high, so paying off your balance in full each month is important to avoid accruing interest and damaging your credit score.


Credit Union Loans

The first alternative that could be helpful is credit cards. They offer a revolving line of credit, which means you can borrow money as you need it up to a certain limit that you can set yourself. Many credit cards also offer 0% introductory interest rates, which can be a great way to save money on interest charges.

However, it’s important to be aware that credit card interest rates can be quite high, so paying off your balance in full each month is important to avoid accruing interest and damaging your credit score.


Government Assistance Programs

Government assistance programs can also be an alternative to short-term loans. These programs may provide financial assistance to people in need, such as low-income families or those facing a financial crisis.

Examples of government assistance programs include the Supplemental Nutrition Assistance Program (SNAP), Temporary Assistance for Needy Families (TANF), and the Low-Income Home Energy Assistance Program (LIHEAP).


Peer-to-Peer lending

Peer-to-peer lending may be able to help if you’re trying to avoid a payday loan. With peer-to-peer lending, borrowers can get a loan from individual investors rather than a bank or other traditional lender.

Peer-to-peer lending platforms, such as Lending Club and Prosper, can connect borrowers with investors who are willing to lend money at lower interest rates than traditional lenders. However, it’s important to note that peer-to-peer lending may not be available to people with bad credit.

While short-term loans can be a quick and easy way to get cash when you need it, they can come with high interest rates and fees. Alternatives to short-term loans, such as credit cards, personal loans, credit union loans, government assistance programs, and peer-to-peer lending, can be more affordable and less risky.

It’s important to consider all your options before taking out a short-term loan and be aware of the terms, fees, and interest rates associated with each alternative.


Choosing a finance option for you

Choosing the right finance option can be a crucial decision that can impact your financial health and overall well-being. When considering different finance options such as credit cards, peer-to-peer lending, and credit unions, there are several factors to consider. Start by assessing your financial needs and goals, and then research each option’s interest rates, fees, and eligibility requirements.

Consider your credit score and whether you are likely to qualify for each option. Additionally, think about how quickly you need the funds and whether you prefer the flexibility of revolving credit, like a credit card, or a fixed-term loan. It’s also important to read the fine print and understand the repayment terms and any potential penalties or fees for late payments or early repayment.



Investing in Second Citizenship


A Lucrative Investment You Should Consider in 2023

Second citizenship refers to being a citizen of more than one country. The dual citizen shares the rights and responsibilities of both countries and is regarded as a national citizen in more than one country under the laws of those countries.

Having a second passport nowadays is the new life insurance policy. The safety, freedom, and stability of the second country are priceless when it comes to the abrupt abandonment of the home country and relocating to a new one. Such circumstances can include civil unrest, political and economic instability, or in the worst-case scenario, a war.

But is dual citizenship worth the investment? Definitely! Many entrepreneurs and wealthy business people started investing in dual citizenship to take advantage of the multiple benefits it provides. They are always seeking prosperous ways to secure their future and expand their business apertures globally.

In this article, we’ll give you reasons why a second passport is your and your family’s getaway to a better future.


Citizenship by Investment Programs

What are CBIs or Citizenship by Investment Programs? These are programs that facilitate the process of obtaining dual citizenship in return for a certain investment from a foreign investor. The programs help families to acquire alternative citizenship and enjoy the rights of a second country as their home.

Those on these programs invest in the economy of the host country and must uphold the customs and laws of the country. They then have rights such as being able to own property and vote.

CBI programs offer citizenship through legal conduct, and it’s a faster process compared to the traditional immigration process.


How Dual Citizenship Opens the Doors?

Visa-Free Traveling

Owning a second passport opens the doors to multiple opportunities, including visa-free travel to more than a hundred countries. For instance, the St. Lucian citizenship by investment programs secures dual passports for foreign investors. St. Lucian passports allow citizens to travel without a visa or with a visa on arrival to more than 140 countries, including Singapore, the UK, Israel, Hong Kong, and the Schengen Zone.

St. Lucia offers a globally respected CBI program and has rolled out an e-payment platform to facilitate the virtual application process. The processing time was cut to 56 days after the platform was implemented, and the country has also updated the “qualifying dependent” category to include co-dependents in all investment options.


Lifestyle Benefits


The various lifestyle benefits open up new life horizons and allow dual citizens to experience the world from a whole new perspective. Besides adopting a new lifestyle, a second passport will also allow you to meet new people, explore different areas, learn about new and exciting cultures, and travel the world.

Additionally, it’s a secure option for relocating safely to another location and a sense of pride knowing you own a piece of paper that enables you to work and live in another country.


Global Mobility

One of the main reasons people invest in alternative citizenship is freedom of movement. Global mobility enables them to travel abroad and form business partnerships, purchase property, and enter a particular country without going through the visa-acquirement process.

Global mobility is priceless to business people who want to save time, money, energy, and resources on acquiring visas for travelling.


Business Opportunities

If you want to do business abroad and save money on visa application fees, consider investing in St. Kitts and Nevis or St. Lucia.

St. Kitts and Nevis’ passport ranks 25th globally, while St. Lucian is 31st. These Caribbean passports are very powerful and enable applicants to travel freely between countries.

The passport is valid for ten years after it has been obtained.


Tax Management

Dual citizenship eases the tax burdens and allows for a better tax optimization process. For example, the Caribbean countries have zero taxes on capital gains, inheritance, and wealth acquired overseas. These profits are not subject to taxes, so investors can manage their wealth more effectively.


Asset Protection

Banking options in countries of dual citizenship strictly implement services for preserving investors’ assets and protecting their wealth. They offer a variety of protection tools like offshore trusts, offshore banks, and specialized bonds for maximizing wealth and protecting assets.


Best CBI Programs

According to a survey, the best citizenship programs in the last four years are:

  • For 2023, St. Kitts and Nevis was chosen as the best CBI Program;
  • In 2022, Dominica took the trophy home;
  • 2021 was in favour of St. Lucia;
  • Grenada took first place in 2020;


The Perks of Caribbean Citizenship

The perks of Caribbean citizenship include:

  • Fast application process – the applicants can receive their passports within 60 days;
  • Remote application – no need to visit the country where you’ll obtain citizenship; the program will process the citizenship even when the applicant is in the home country;
  • Obtain citizenship for the whole family;
  • Minimal investments, starting from $100,000;
  • Various investment options;
  • Visa-free traveling; Dominica’s passport enables dual citizens to enter 127 countries without a visa or with a visa on arrival; Grenada allows entrance to 131 countries, and St. Kitts and Nevis to 156 countries;
  • The Vanuatu passport can be obtained for the main applicant and co-dependent applicants like parents, grandparents, or a spouse; You can obtain the Vanuatu passport within a month – it’s the fastest route to get alternative citizenship.

Fun fact – St. Kitts and Nevis’ program is the oldest in the world. It’s considered the great-grandfather to the rest of the programs that were established later on.



The requirements are different in each country, and every applicant must fulfil them to become part of the program and eventually obtain a second passport. For instance, some programs require the applicants to provide a document as proof of good health and undergo medical examinations, and others don’t.

The common requirements for all programs are:

  • Invest in one of the investment options – includes real estate, national funds, enterprise projects, and government bonds;
  • Have a clean criminal record;
  • Provide a legal document of the source of the investment;

Check the specific requirements for the country you’ll apply to make sure you fulfil them all!


You Should Consider Dual Citizenship

You should consider investing in dual citizenship if you want to improve your lifestyle and secure a plan B. A passport has been an invaluable document ever since the Biblical ages, and it represented a “safe passage” document that allowed people to cross borders and travel between regions.

Nowadays, passports have great advantages, especially if you’re a dual citizen and have the doors opened in many countries.

Before you decide to apply for a second passport, make sure you contact an authorized agency that works in the industry and can help you secure dual citizenship.



What to Do When Living Paycheck to Paycheck


63% of Americans live paycheck to paycheck, and the cost of living is quickly outpacing wage growth. There are a few reasons people find themselves in this situation, but poor budgeting and overspending are the most common. In this article, we’ll look at what you can do to save money if you’re living paycheck to paycheck.


1. Take a look at your biggest expenses first

The things that cost you the most will make the biggest impact on your overall financial health. Typically, these are your fixed expenses like rent, mortgages, car payments, and student loans. Many people make the mistake of cutting small expenses like Netflix subscriptions or take-out coffee when they’re trying to save money. While every little bit counts, these changes won’t make much difference unless you first cut out your major expenses.

Some of these (such as student loans) can’t be reduced, but others (like your rent) can be controlled. For example, if your rent is $1,800 per month and you’re only making $3,000 per month, 60% of your income goes towards housing. If you can find a way to reduce your rent by even $100 per month, that will give you an extra $1,200 per year to work with.


2. Downsize your biggest amenities

Once you identify your biggest expenses, it’s time to look at your lifestyle and see where you can cut back. If you’re overspending on rent, that’s probably the best place to start. Moving to a place that’s a few hundred dollars cheaper can make a huge difference in your monthly budget.

If you have a car payment, consider selling your car and buying a cheaper one (or no car). Public transportation, walking, or biking can save you a lot of money each month. And if you work from home, you could even Uber whenever you need to go somewhere. A few other areas where you might be able to cut back are eating out, drinking, and travelling. If you’re spending a lot of money in these areas, see if you can reduce your spending or find cheaper alternatives.


3. Make a budget and stick to it

One of the best ways to take control of your finances is to create a budget, which is a plan that allocates your income towards different expenses. If you aren’t good at money management, you can use a budgeting app like Albert to help you track your spending and stay on track. You can also use a simple Excel spreadsheet to create your budget. A few best practices to keep in mind when creating a budget include:

Make sure your income and expenses match up: If your expenses are more than your income, you’ll need to find a way to reduce your spending.

Automate your bills and savings: This will help ensure you’re always paying your bills on time and saving money each month. Give yourself some wiggle room: It’s important to be realistic when budgeting, so make sure you allow yourself some flexibility.


4. Create a plan for your debts

If you’re struggling to make ends meet because of high-interest debt, it is important to create a plan to pay it off as quickly as possible. There are a few different ways to do this, but the most effective is the debt snowball method.

This involves paying off your debts from smallest to largest while making minimum payments on your other debts. As you pay off each debt, you’ll have more money to put towards your next debt and eventually be debt-free.


5. Don’t sacrifice what makes you happy

There’s no point in compromising your quality of life just to save a few extra dollars. If there are things that make you happy, find ways to keep them in your budget. For example, if you love going out to eat, try cooking at home more often and only eating out a few times per month. Or, if you enjoy travelling, look for cheaper destinations or ways to save money on travel costs.

The key is to find a reasonable balance between your happiness and your financial goals, and the reality is that cutting out your five-dollar coffee won’t make much of a difference if you’re overspending in other areas.


6. Put money aside for investing

Apps like Acorns and Robinhood make it easy to start investing with just a few dollars. If you’re unsure where to start, plenty of resources online can help you begin. Investing is important because it allows you to grow your money without doing anything. Over time, your investments will compound, and you’ll be able to achieve financial freedom slowly but surely.


7. Live below your means

This may seem obvious, but it’s worth repeating: if you want to save money, you need to spend less than you make. One way to do this is to figure out your monthly take-home pay, and then create a budget that doesn’t exceed that number. This will force you to find ways to cut back on your spending.

Another way to live below your means is to list your non-negotiable expenses and find ways to save money in other areas. For example, if you have a gym membership that you use regularly, it might not make sense to cancel it. If your gym membership costs $100 per month, you could consider opting for a more budget-friendly option.


8. Find other ways to make more money

If you’re struggling to make ends meet, it might be time to find ways to increase your income. There are a few different ways to do this, such as:

  • Asking for a raise at work
  • Getting a second job or side hustle
  • Selling items you no longer need
  • Refinancing your debt to get a lower interest rate
  • Freelancing work


9. Prepare for emergencies and upcoming bills

If an unforeseen expense comes up, you could use loans from My Canada Pay in a pinch, but it’s always best to have an emergency fund to cover unexpected costs. You should also make sure you’re prepared for upcoming bills by setting money aside each month. This way, you won’t have to worry about how you’ll pay your bills if something unexpected comes up.



If you’re like most Americans, putting money aside for the future can be tough, but it’s important to remember that you’re not alone in this struggle. By following the tips in this guide, you can make headway on your financial goals and be on your way to a more secure future.



Cent Vs Micro Account: Which One Is Better?


When you start trading, your broker will likely ask whether you want a cent account or a micro account. If you are a beginner, chances are that you will give your broker a strange look. What are the differences – and does it matter which type of account you choose?

The fact is that it does matter. Depending on your level of experience, the wrong account may just bring you losses. This may be a result of investing more than you can afford, or even missing out on investments that you could have done.

To make sure that you are investing like a professional, here is some information about cent and micro accounts that you will want to know.


Defining the Cent Account

As the name may suggest, the cent account allows you to trade small amounts of currencies, with the standard lot being at around 0.001%. With this type of account, it does not matter how small your deposit is. Some forex brokers don’t even set a limit; it can be $0, for all it’s worth. That being said, you will need at least a few cents to start trading.

The main issue is that these types of accounts are very small – and, therefore, are not provided by many brokers. This is relatively expectable, as most brokers keep their focus on profit. The more money you make, the better. When you only earn a few cents a time, it is not too rewarding.

Still, the couple of cents that you earn would be much more advantageous than what you’d earn if you had a demo account. You can earn a significant amount of profit, but it would take a long time to do so, along with a lot of dedication.

The main goal of a cent account is to help you get used to the real market without risking too much of your money. You can test out a couple of strategies and figure out your trading style while setting aside your fear of loss.


Defining the Micro Account

Micro accounts trade more than a cent account but less than a standard account (another common option offered by forex brokers). The micro account trades about 1/100 of the lot of a standard account. In other words, you trade only about $1,000 per transaction, which is why it got the name “micro.”

This type of account uses micro lots for trading, which is why you won’t need to make too big of a deposit. Usually, it starts for less than $50, and the rest of the profit is brought by leverage. When compared to the standard account, which usually requires a $500-$1,000 deposit, the amounts are rather small. It’s a good option for those that are serious about trading but don’t have the confidence to commit to a standard account. 

The problem is that while you earn more profit than cent accounts, it is still relatively small. This is why micro accounts are mostly recommended before you upgrade to the standard version. 

However, it does help give you a better feel of the real market. The risk is still relatively low, making it a good option for novices that have basic knowledge of trading. Micro accounts are also a common choice for experts that wish to test out new trading strategies. This way, they can work their theories without putting too much of your money in danger.

Each micro account may have different fine details, from one broker to another. This is why you may want to ask them for the exact features before you sign up.


Differences between the Cent and Micro Accounts

The differences between cent and micro accounts are not that many, but they are rather significant. Here are the main areas where they are different:

Trading Volume

The cent account has a trading volume of 100 units, regardless of the base currency that you use. On the other hand, micro accounts go as high as $1,000 units in the base currency. This makes the latter a better option for those who are more experienced in the trading process.


The lots in both accounts are similar but hold different trading volumes. For the cent account, 100 units are called 1-cent lots. As expected, trading volumes or micro accounts are 1,000 units per one micro lot. Therefore, the Forex Cent lot is the equivalent of 10% of a Micro lot.

What Do These Differences Mean?

Forex trading comes with several risks. To minimize the risks while maximizing your profits, forex brokers with “Micro” or “Cent” types of accounts will choose the best type for your needs. Your forex experience will also be taken into account when they do that.

To make the trading risks as low as possible, the micro account reduces the minimum trading lot, whereas the cent account makes use of the account currency. When the minimum trading size of a micro account is turned into a trading lot, it can reach much lower in comparison to a micro account.

As such, cent accounts come at lower risks when compared to micro accounts while not needing a high deposit. If you are a beginner in the trading industry, a cent account may be the better choice for you. This allows you to browse through the market and exchange forex currencies without putting too much money at risk.

On the other hand, micro accounts give you a better chance for profit. This is because the micro account holds more power, the earnings being more significant. This is why micro accounts represent the better choice for traders that already know the market and want to take a better chance at a profit.

The Bottom Line

Both accounts are a good option for beginner brokers that are still learning their way around the real market. That being said, cent accounts bring less financial risk, whereas micro accounts bring more potential profit. It’s up to you to choose which one works best for you.



What Are The 7 Components Of Effective Financial Planning?

When it comes to financial planning, it’s important to consider all aspects of your current and future financial well-being. This means not just looking at immediate goals and expenses but also considering long-term plans and investments.

When it comes to managing your money, whether you are an individual or a business, it is always important to speak to a qualified financial planner, and you can visit to find one in your area.

In the meantime, here are the seven critical components of effective financial planning to set you up for a wealthier and more comfortable future:

Setting Clear Goals

Without clear goals, it’s easy to get sidetracked and spend money on unnecessary things rather than investing in your long-term goals. In addition, having specific targets in mind helps you measure your progress and make adjustments as needed.

When setting goals, it’s important to be realistic and ambitious – aiming too high can lead to frustration, but setting low expectations can limit your potential. It’s also helpful to break down larger goals into smaller, achievable steps you can work towards over time.

By setting clear financial goals and creating a plan to reach them, you’ll be able to take control of your finances and work towards a bright future.


Identifying Potential Risks

When it comes to our finances, we often want to focus on the positive aspects – investments that are performing well, steady income, and meeting our goals. However, it’s just as important to consider potential risks to plan for future uncertainties.

This could include the loss of a job, unexpected medical expenses, or changes in the economy like the current official cash rate determined by the Reserve Bank of Australia.

By identifying and planning for these potential risks, we can minimise their impact and ensure financial stability for the long term. This may involve building an emergency savings fund, diversifying investments, or purchasing insurance policies.

While it’s never fun to think about negative scenarios, taking the time to identify potential risks is a vital component of effective financial planning.


Creating a Budget and Tracking Expenses

It’s easy to lose track of where your money is going, particularly when faced with a plethora of expenses, both necessary and frivolous. That’s why creating a budget and tracking expenses is such a crucial part of financial planning.

By setting goals and determining what you can realistically afford to spend, you can ensure that your spending aligns with your overall financial objectives. And by consistently monitoring your expenses, you can identify patterns and adjust as needed to stay on track.

So don’t underestimate the importance of budgeting and expense tracking in any effective financial plan.


Determining Insurance Needs

Before determining how much to invest or save, it’s crucial to ensure that your assets and loved ones are protected in unexpected circumstances. This includes evaluating needs for life, disability, health, and property insurance.

These types of coverage can help provide security and peace of mind, knowing that you and your family will be taken care of in unfortunate situations. It’s also important to periodically reassess your insurance needs as they may change over time.


Planning for Taxes

One mistake and you could end up owing thousands to the government, putting a major strain on your finances. That’s why it’s crucial to plan for taxes as part of your overall financial strategy.

This means ensuring that you have enough set aside to cover any tax payments, taking advantage of any deductions or credits available to you, and staying on top of any changes in tax laws that could affect your financial situation. By taking taxes into account in your planning process, you can save yourself stress and money in the long run.

So don’t forget to factor in taxes when creating your financial plan – it could make all the difference.


Developing a Retirement Strategy

Without a solid retirement strategy, you may be unable to sustain your desired lifestyle after leaving the workforce. When you consider only one in five Australians will have enough superannuation to fund a comfortable retirement, this becomes extremely important.

The earlier you start planning for retirement and contributing to a retirement fund, the more time your money has to grow through investments and compound interest.

It’s important to continually reassess and adjust your retirement strategy, taking into account changes in income, expenses, and the market. Working with a financial advisor can help ensure that you have enough money saved to maintain your desired standard of living during retirement.


Managing Investment Portfolios

By carefully selecting and monitoring various investments, individuals and businesses can grow their wealth and ensure long-term financial security. However, managing an investment portfolio is not a simple task. It requires knowledge of various investment options, the ability to monitor and adjust positions constantly, and a clear understanding of personal financial goals.

Seeking the assistance of a professional financial advisor or investment manager can help in this process. Still, ultimately individuals must take responsibility for actively managing their portfolios. Neglecting this critical component of financial planning can have significant negative consequences for both short-term and long-term financial success.

By taking the time to address each of these areas, you can ensure that you have a solid foundation for achieving both short and long-term financial success. And remember – don’t be afraid to seek guidance from a financial advisor or planner if necessary. They can provide valuable expertise and support in navigating these sometimes overwhelming tasks. Ultimately, actively engaging in comprehensive financial planning can alleviate stress and lead to increased peace of mind about your financial future.



How to Hire an Accountant for Your Startup Business


As a new business owner, you want to focus on running and growing your company. You may have thought about hiring a full-time or a part-time accountant as a solution depending on your workload. An accountant could be the only person who will ease off the financial paperwork that is taking too much of your time. This post looks at why you should hire an accountant, how to hire and how much it costs.

Why Should You Hire an Accountant?

Small businesses also need an accounting professional. Below are reasons why you need an accountant as a small business owner.

Perfect Financial Records and Financial Statements

A professional accountant will ensure that your financial records and statements are in order. As a business owner, you will be able to get a snapshot of all the necessary financial information whenever you need it. This information will help you in doing an analysis of your business and assist you in sticking to your plans to grow the enterprise.

Keeping Up With Laws On Taxation and Saving Tax

A certified public accountant will ensure that your business complies with the latest tax laws. An accountant will also ensure that you get tax write-offs when you file your taxes and assist with tax planning.


How to Hire an Accounting Professional

It is crucial for you to find a person with the financial knowledge that matches your business and how it operates. Taxation and financial needs for various companies are different. For instance, a sole proprietorship business setup without employees is different from a business with employees. Below are things to consider when hiring an accountant:

  • Make a list of the services you would like the accountant to handle
  • Network and consult with business owners to find out the accounting firms or accountants they chose to work with and why. For example, you can choose to work with an accounting firm such as Pherrus Financial for business taxation compliance services.
  • Create a list of questions to ask a prospective accountant or an accounting firm, then make an appointment. There are some accountants or firms that offer free consultations.
  • Issues to discuss during the hiring process include fees for tasks such as payroll, financial statements, financial reporting, first tax filing and all tax-related charges.
  • During the interview, ask for recommendations for accounting software.


The Cost of Hiring an Accountant

Costs will be different depending on the accounting service that you need. The amount of money you’ll pay will also depend on the qualifications of the accountant and their experience.

Costs for a CPA with a college degree without experience will differ from a certified professional with five years of experience. If you wish to work with an accounting firm, you will pay between $100 to $250 an hour. A self-employed accountant working as a subcontractor will cost you $40 an hour.


As a startup business, you don’t want to hire an accountant who will be available during the tax season only. This type of accountant leaves you without a solution for other areas, such as tax advice and payroll.

You need to ensure that your accountant will be available throughout the year. Ensure that your CPA will solve other business challenges in addition to record statements and taxes. Most startup owners utilize an accountant’s services such as discussing:

  • Business Planning
  • Financial Management
  • Operating Costs
  • Tax Laws
  • Tax Preparation
  • Recording transactions

Your accountant should not only deliver the tax return but also talk to you about all the above.

An Understanding of Your Industry and Business

While you seek professional candidates who know all aspects of accounting, look for someone with the right background for your business. The ideal accountant is familiar with the operations of your specific business. They should have experience working with similar businesses in your industry and understand the operating procedure and costs associated with managing your business.

Additionally, you should hire a professional with experience working with companies at a similar stage as your business. With this kind of experience, the accountant knows the challenges and opportunities ahead, so they will not be caught off guard as the business grows.



Hiring an accountant for your startup is a wise decision. You will have more time to concentrate on growing your business. You don’t have to be an expert in bookkeeping and taxes to run a business, but you can find someone who is certified to help you out. If you have not hired an accountant yet, start by following the steps above and grow your business.



Top Strategies to Get Past a Cash Flow Crisis


Top Strategies to Get Past a Cash Flow Crisis

As a small business owner, you like to feel optimistic. You have a good plan and implement it, believing that your business will only grow. The problem is that about 6 out of 10 businesses are still struggling with cash flow at the beginning of their road. Unless they find a way to overcome the crisis, they risk going into bankruptcy way too soon.

But what can you do when you reach such an impasse? How do you gather enough money to pay for the company expenses, while maintaining some profit? Here are some tricks to bring yourself back up when you are in such a crisis.

cash falling down on floor in a glass

1. Adjust Your Business Plan

When you have a cash flow problem at the very beginning of your career, there may be an issue with your business plan. Perhaps you overestimated how much your demand will be, and therefore, made unnecessary purchases. Or maybe you are focusing on an area that is not very profitable, ignoring the one that brings promise. Review your business plan and check whether any adjustments are due or not.

2. Offer More Payment Options

Clients like it when you make payments easy for them. You may want to take only cash or debit card payments, but considering other options may be helpful. For example, you should offer online or credit card payments as an alternative. Digital wallets such as PayPal are also popular.

Few companies use cryptocurrencies, but if you work for investors, you may want to make it easy for them. For instance, setting up a Guarda TRX wallet or something similar may prove helpful.

3. Offer Incentive for Early Payments

Very often, cash flow issues appear when your clients do not make their payments on time. One way to prevent a recurring cash flow issue is to offer incentives to the people who make early invoice payments.

This may be something as simple as a discount. If your clients are expected to pay within the next 30 days, make sure they have a reason to deliver the money faster. Similarly, you can penalize late payments, which can give them even more of an incentive.

4. Increase Your Prices

Prices are rising everywhere to keep up with inflation. If you are suddenly facing a cash flow crisis and have no idea where it came from, perhaps you should consider increasing the prices.

That being said, make sure your clients know why you did it. You should also ensure the prices remain within reasonable limits. If you make them too high compared to your competition, it may end up backfiring on you.

5. Sell Unnecessary Assets

Perhaps you have duplicate tangible assets that you never really use, such as a second car that you use for sales. You may even have a patent or trademark that you are not using but are still paying for. If this is your case, you should consider selling them. The measure may be temporary, but it can still be helpful.

6. Send Your Invoices Early

To survive a cash flow crisis, you need to accelerate your receivables. Sending the invoices early can help prompt this action. Once your clients receive the invoices, they will be more likely to pay them and get them done.

If you send them at the end of the month, it might take longer to receive the payment. So, to get your money, send your invoice as soon as possible.

7. Get a Loan

The last thing you may want during a cash flow is to attract even more debt, but sometimes, it may save you. Consider getting a cash advance on your credit card or a business loan. If the problem is temporary, the next month’s cash flow can help you cover the debt. If it’s a recurring problem, you may want to avoid getting such financing, as it can make things worse.

8. Make an Inventory Check

When going through cash flow problems, you may want to make an inventory check. If your goods are not moving, you should not keep on putting your resources there. Consider selling them in bulk or at a discount.

Everyone loves a good deal, and you will solve your cash flow problem as the products get sold. Once you are done selling the items, consider reevaluating the prices or removing them from the line altogether.

9. Leverage Happy Customers

To get past a cash flow issue, you need more customers. Use your past clients for that, and put up a referral program. For instance, if they bring buying customers your way, they can get credit or a discount for the next purchase. It’s a win-win for both of you, as it costs them nothing to recommend your products to someone else.

The Bottom Line

Cash flow issues can appear in any business, big or small. It’s important to take a look at the cause so that you may come up with a solution. Sometimes, a change in strategy may be enough.



How to manage your finances to increase your income?


In today’s challenging economy, more and more people are looking for ways to boost their earnings. So if you’re looking for ways to increase your income know that you’re not alone.
One of the best ways to do this is by managing your finances in a strategic way.

There are several things you can do to improve your financial situation and increase your income. In this article, we will discuss some of the most effective methods for doing just that.

So let’s begin exploring the ways now.plant growing with coins


What is money management?

Money management is all about budgeting, investing, saving, and spending wisely in order to reduce anxiety and build confidence in your financial goals. You can do research or get professional advice to help you create a plan that works for you.

Many people reach their financial independence due to creating some passive income. It can be done by various options from investing in crypto to trading forex.
To carry out the last one check the lowest spread forex broker to pick up a reliable brokerage company.

But before getting some results you have to take control of your financial sphere.
Let’s look at some ways to manage your finances and increase your profits with time.


Create a personal realistic budget

Creating a budget that works with your lifestyle and spending habits is important for money management. Don’t set yourself up for failure by creating a budget based on drastic changes, such as never eating out when you currently order takeout four times a week. A realistic budget will encourage better money-management habits, such as cooking at home more often.


Build up your savings

Creating an emergency fund is a great way to be prepared for unexpected events. Even small contributions can help you avoid risky situations and keep your finances in order. Having this type of fund can help you avoid borrowing money at high interest rates or falling behind on your bills. If you are already struggling to make ends meet, an emergency fund can give you the peace of mind and financial security you need to get through tough times.


Start an investment strategy

Even if you don’t have a lot of money to invest, small contributions to investment accounts can help you make your money work harder for you. Over time, the money you invest can start to earn more money through interest and dividends.


Track Your Spendings

If you’re not aware of where your money is going each month, there is a good chance that your personal spending habits need some improvement. Managing money effectively starts with knowing how much you’re spending on things like dining out and entertainment.


Train your financial mindset

Managing your money in a more positive way could include keeping sight of your goals, taking a solution-oriented approach, and focusing on the things you can control – like repayment of debts and spending habits.



To wrap it up, there are lots of things to consider when it comes to money management but the most important thing is to get started. Use these tips as a guide to help you create a budget, save money, and make smarter financial decisions.



Steps to Accept Credit Card Payments In-Store and Online


With the rapid changes in the payment ecosystem over the last few years, business owners need to adapt quickly to the new payment systems to provide a seamless service to customers.

Among the various payment methods today, credit card payment has emerged as the most preferred payment option that customers use to shop offline and online.

Once the business owner decides if he wants to use a merchant account, a payment service provider, or an app, he can open a credit card processing account and set up a payment system. Here is how a merchant can accept credit card payments in-store and online.

lady using credit card online


Steps to Accept In-Store Credit Card Payment

Customers may make in-store credit card payments at a restaurant, in shopping stores, or at other points of sale. To accept credit card payments at physical sale points, a business owner requires the following equipment and services:

  • Payment processor: A payment processor is a vendor who processes credit card payment transactions done by a customer. Small business owners can use the services of a payment processor, and large business owners can opt for a merchant account. A merchant account is more suitable for business owners doing a high-risk business or having many transactions daily.
  • Point-of-sale system: A point-of-sale system is a combination of hardware and software computing and physical tools that facilitate a payment transaction. A merchant must purchase hardware like mobile card readers, fixed card readers, barcode scanners, etc., and pay a monthly fee for software like sales, inventory, and tax monitors.
  • Payment terminals: Payment terminals are devices that process credit card transactions.

Now that you know the services and equipment required to accept credit card payments let us see the steps in the in-store payment process.

Step 1: Determining the payment processing needs: The first step for merchants is to determine payment processing needs. They need to decide if they will accept online, in-store, mobile, etc.; the payment can be one-time, recurring, or subscription-based. It will help the merchants understand the features they need in th
eir payment system.

Step 2: Choosing a payment processor: The merchant’s payment processor must be compatible with other software like the point-of-sale system. It reduces the scope of errors by eliminating the need for manual entries in the payment processor. The merchant’s point-of-sale system may have an in-built payment processor for convenience.

Step 3: Opening a credit card processing account: A small business can choose a credit card processing service which is a payment service provider. However, if the merchant has large-scale operations, he will require a merchant account.

Step 4: Setting up the payment software: After the merchant selects the payment processor and has an active account, he needs to learn to use the software. The software depends on whether the credit card payment processor is integrated into the point-of-sale system or the merchant uses tools provided by the card-providing service.

Step 5: Setting up the hardware: The merchant would require card readers to accept in-store credit card payments. The card readers come in various forms, like a small dongle that the merchant can sync with his smartphone or a complete POS system.

Step 6: Testing the system: Once the set-up is complete, the business owner should test the system before opening it to customers. It ensures smooth processing when the merchant is dealing with customers. To test the system, the merchant can process a small transaction and get his amount refunded.


Steps to Accept Online Credit Card Payment

Financial transactions made over the internet are called online credit card payments. The online credit card payment system functions in a pattern similar to in-store payments. In the online credit card payment system, the payment processor transfers the payment information, and the customer’s credit card company and the bank accept or reject the transaction.

The merchant receives the money in his account within one or two working days in the online payment system. The steps to accept online credit card payments are as follows:

Step 1: Setting up an online store: The merchant must first set up an online store where customers can shop for various products.

Step 2: Setting up a check-out process: Once the merchant has created an online store, he needs to set up a check-out process to make the payment process simple for the customers. For this, the check-out process should be mobile-friendly.

Step 3: Setting up the online payment services: After this, the merchant needs to integrate an online payment processing solution to give more options to the customers to make a payment and speed up the payment process.

The merchants should ensure that the customer data is secure while accepting online and offline payments. By setting up an effective credit card payment system, the merchant can offer better services and a better shopping experience for the customers.



Benefits of Virtual Accounting Services


2 persons working calculator and some papers

Virtual accounting services have been in high demand, especially after the COVID-19 pandemic disrupted business operations. In conventional accounting, you employ an internal accountant and provide them with a workspace. In addition to a salary, you have to cater for additional costs like health insurance. 

As the advantages appear to outweigh the expenses, many businesses are attempting to operate entirely virtually. However, many small organizations still accept the concept of a virtual accountant at a slower rate. Here are some of the benefits of virtual accounting services:

Simplify Tax Calculations

Issues with taxes can be challenging and time-consuming. Only a seasoned company should handle your tax records. For an additional price, some online bookkeeping firms will also offer tax preparation. To provide clients with detailed reports on a predetermined timetable, most virtual accounting firms have set protocols. Additionally, you’ll likely get notifications about any outstanding issues that need to be resolved.


Cost Effective

Most virtual accounting platforms impose a set rate for their services. You save money by forgoing standard accounting expenses like hiring fees, paid sick time, payroll taxes, and employee perks. Small firms with tight financial restrictions that cannot employ a full-time accountant for the company can choose virtual accounting.


Organized and Up-to-Date Books

Maintaining accurate books is essential for any business owner, but it can be a time-consuming and tedious task. This is where virtual accounting services can be of assistance. Virtual accounting services can take care of all your bookkeeping needs, including tracking income and expenses, preparing financial statements, and more.

Another benefit of virtual accounting services is that they can help you stay organized and on top of your finances. With everything in one place, you can easily see where your money is going and track your progress towards financial goals. This can help you make informed decisions about where to allocate your resources and make adjustments as needed. If you’re looking for a way to save time and simplify your financial life, virtual accounting services may be the perfect solution.


Increased Efficiency

With the help of cloud storage technology, virtual accounting companies may maintain digital copies of their client’s records. In addition, it will help them manage their work effectively and efficiently. It is essential to seek the services of an experienced virtual accounting company such as Geekbooks for assistance in growing your business.


Improved Data Security

You can have the assurance you require regarding your critical financial data by working with virtual accounting services. Your financial information will be safe since your data will be saved on the cloud, so you won’t lose your data in the case of a natural disaster or cyber attack. Cloud accounting systems with the highest level of dependability have Secure Sockets Layer (SSL) certification.


Effective for Managing Large Business

Virtual accounting offers customizable services and can connect with the current department to offer services and support. It is helpful for large businesses that need assistance but does not want to pay accounting professionals. A virtual accountant can respond swiftly to increased job volume, and you can immediately scale up if your business expands quickly or requires additional help, all without incurring overhead costs.



Financial information is now stored online thanks to cloud-based software in advanced virtual accounting services. This gives you access from various devices, and your virtual accountant can complete the work according to a schedule that fits your company’s timelines.

Virtual accounting services have many advantages over hiring an in-house accountant. Due to improved internet services, cyber security, cloud computing, and communications tools, more businesses will undoubtedly adopt virtual accounting. As a business owner, your survival ability depends on raising output, sales, and efficiency while lowering expenses.



The Complete Guide for Forex Trading in Malaysia


Foreign exchange is taking over the trading world all over the globe. It is all you hear about on the news, TV, and the internet! The great thing about forex trading is that you can do it from the comfort of your home, and you can invest or trade currencies anywhere and everywhere. If you want to berdagang forex (trade forex) in Malaysia, there is nothing stopping you. You might want to familiarise yourself with how things are carried out there, but once you have come to grips with the rules and regulations, you can get started.


The Regulation of Forex in Malaysia

Forex trading is regulated by many commissions, bodies, agencies, and institutions – they are all responsible for setting regulations. Forex trading cannot occur unless you are trading with licensed international Islamic banks, investment banks, commercial banks, or Islamic banks. The central bank of Malaysia is ‘Bank Negara Malaysia’ – its main objective is to issue currencies. Other responsibilities include the regulation of Malaysia’s financial institutions, monetary policy, and credit system. Bank Negara also acts as an advisor and banker to the Malaysian government. Under the guidance of Bank Negra, the Financial Accreditation Agency (also known as the FAA) was established. The FAA was introduced as an attempt to spearhead the certification and standardization efforts for the financial service industry and develop better learning standards.

The ‘Security Commission manages the regulation of businesses in association with securities’ (also known as the SC). This body has many responsibilities, including the supervision of exchanges, approval of corporate bond issues, the regulation of any acquisitions and mergers of companies, central depositories, and the regulation of any matters that have relevance or relation to future contracts and securities. 

Regarding the ascertainment of Islamic Law, the ‘Shariah Advisory Council’ (also known as the SAC) has full authority. The SAC allows Islamic banking businesses, Islamic financial businesses, takaful businesses, and any other businesses that are based on the Shariah principles to be run under Islamic law whilst being both regulated and supervised by Bank Negra Malaysia.


Forex Trading Laws in Malaysia

It is extremely important to first understand any trading laws before you begin to attempt to trade forex. There are around three laws that are of the utmost importance to understand.

The securities and commission act of 1993 – allows for the securities commission Malaysia to regulate any businesses dealing in security, as well as license any of these businesses. The money changing act of 1998 – along with licensing, this act provides the regulation of any matters relating to money changing as well as the regulation of any money-changing business. 

If you are attempting to buy or sell any foreign currency in Malaysia, the money changing act ensures that you are not only licensed under this act but also under the exchange control act of 1953. 

The exchange control act of 1953 – is an act that imposes restrictions on any forex dealing, regardless of whether the dealings are occurring amongst residents or non-residents. 

Though there aren’t any restrictions for non-residents when wishing to invest in Malaysia, this is dependent on whether the non-resident is choosing to purchase certain assets such as securities and land property.


How To Start Trading in Malaysia

When beginning to trade forex in Malaysia, you should use an approved broker or institution – you will also want to ensure you have maintained an Islamic account. To do this, you need to ensure that the broker or agent that you choose has been deemed as being Shariah compliant. Be careful when doing your research on brokers – there are many reviews online by other users, which can make this process a lot easier. Income that is gained from forex can be taxed as income tax; however, the exception is any forex capital gains – these remain exempt.



Help With QR Code Scanning Problems

9 Reasons Why Your QR Code Is Not Working

QR codes have become a critical tool for transactions as they are one of the most convenient methods of accepting cash for the goods and services sold by a business. Therefore, if QR codes are not set up properly, they can result in a loss of business because consumers could walk over to the competition.

In this article, we will look at the various reasons why your QR code payment might not be working and what you could do to fix it!

QR code


1. Quality of the QR Code

Ensure that the QR code is sharp and not blurry because it affects the scannability of the code. Ensure that you have a high-quality QR code before you use it for scanning by consumers because if it is not, consumers may not be able to make a payment.

2. Never Invert Colors

Choosing design over efficiency is a strict no. What good is a code if it does not work? A QR code should have a white background with a black foreground; if someone decides to invert that color, it may become non-functional. So, as a word of advice, always choose functionality over design choices for QR codes.

3. Size

The minimum functional size for a QR code is 2×2 inches. It is a standard format and anything smaller than that could make it extremely difficult to scan. A consumer might miss the code due to its tiny size. It is especially true for QR codes printed in newspapers because their tiny size makes it harder to notice amongst all the other information.

4. Paying Attention to the Contrast

Always stick to a lighter background with a stronger foreground when trying to design a QR code matching the style and theme of your business. Contrast plays a major role in determining how easy it is to scan the code, and if not done right, it might render the code non-functional. As a tip, remember to keep the foreground 40% darker than the background for the most efficient contrast.

5. QR Code Placement

Do not place the QR code where it is hard to reach or at a level that is difficult for a consumer to scan. Even if you did everything right technically, you would still end up with a QR code that functions but won’t work for the business. Therefore, whenever you place a QR code ensure that the code is placed at eye level and large enough to make it noticeable. Also, it is best to place it where the surface is less reflective to ensure that light does not interfere with the scanning of the code.

6. Prevent Information Overload

Keep in mind the purpose of the QR code. Do you want to promote a URL or create one exclusively for payments? The best QR codes are the ones that are neat and are not overloaded with information as that can interfere with the functioning of the code.

7. Expired Code

Never use a poor-quality QR code generator that could lead to expired QR codes. The best way to figure out if your QR code has expired is to test it regularly.

8. Broken Links

It is the same as having a 404 error for your website. Prevent broken links in your QR code to ensure the best possible user experience.

9. Customizing the QR Code

While customizing the QR code is good for brand recall, you should not overdo it. Stick to simple customization options such as your brand’s logo, color, and fonts, but ensure that the QR is easily scannable if you do not want to lose out on the purpose of the code that it is designed to solve.

Properly functioning QR codes are crucial for electronic payment to go through; therefore, you must always keep these points in mind when creating one for your business. It will help in creating and deploying an effective QR code that works as expected and helps customers quickly transact or get the information they need.



Types Of E-Commerce According To Your Business Model

Every internet retailer has a unique business plan. Many people make money by getting website visits. It might be challenging to choose an e-commerce business plan, especially for newcomers with negligible field experience.

For your e-commerce business to succeed and generate consistent revenues, choosing the right model is crucial. You must ask yourself these questions, how to know what payment to choose to accept online, and what business model should I select? When preparing for an online business, many people skip directly to the specifics and forget that everything depends on the products you intend to sell and the model you choose for disposing of your inventory. 

Here in this article, we will discuss which e-commerce model is best for your business.


How to identify an e-commerce business model?

An e-commerce business model describes how your online store is conceptually organized to reach customers and increase sales. Business-to-Government (B2G), Business-to-Business (B2B), Business-to-Consumer (B2C), Consumer-to-Consumer (C2C), Consumer-to-Business (C2B), and Business-to-Business-to-Consumer (B2B2C) are the six primary categories of e-commerce business models.

You need to identify two things before choosing the best e-commerce model for your company:

  • Decide your target audience.
  • Create your e-commerce business strategy. 

This will specify how you will draw clients and how they might interact with your offerings. Decide on your distribution structure by considering what would be most effective for your e-commerce enterprise.


Identify your selling product or service

This is the core business operation of your online strategy. The appeal of online business is that virtually anything can be sold. But it’s usually a smart idea, to begin with, a limited selection of goods. Clothing and shoes are examples of tangible goods that you may sell in your business. You can also offer digital goods, such as ebooks or services.

Let’s look at the categories of items currently available online and how to reach their market.


Physical Goods

This is the product that e-commerce stores sell the most. The most popular physical goods are often those that need to be packaged, shipped, and delivered.

But how do you choose which goods to market?

Determine your areas of passion. If you enjoy driving or love cars, try selling car parts or accessories.  Do you adore reading? Why not open a bookshop online? Thanks to online commerce, you have the ideal opportunity to turn your passion into a successful business.

Find the opportunity gaps by analyzing the niche you have picked. This addresses all the underserved facets of the sector. Analyze the target clients’ issues in a similar manner.


Digital goods

Next, investigate keywords related to the item you want to sell. You can then plan your stock management and orders by determining the level of demand for your product.

A buyer may order a wide variety of things online. Are you a graphic artist, content writer, or web designer? You may build an online store for digital goods. For such stores, copyright violations and piracy pose a severe problem. The FAQ and Legal sections, which address the method of product distribution and the status of your items’ copyrights, are also crucial requirements.



Why not build a website to sell these services online if you have a team of competent carpenters, house cleaners, or expert hair stylists who offer to visit the customer’s home? By adding thorough FAQ and Legal sections that explain what you are doing and what the clients might anticipate, you can significantly boost the demand for your services.


Six different E-commerce Business Models

E-commerce supports several models since it is a global phenomenon. The benefit of online shopping is that you may select one or more business models.


Business to Business model

Setting up a B2B strategy is your best option if the nature of your goods or services is focused on satisfying the demands of enterprises. Reaching out and networking are more critical components of this technique. Large advertising budgets are of little use.

Convincing established firms that your products/services are an excellent fit for their processes will be your biggest obstacle.

If you ensure the integrity of your goods and services, this business model has the benefit that orders are often substantial in size, and repeat business is highly common. Media Lounge serves as a superb illustration of this model.


Business to Consumer

This is the approach you should take if your goods or services are primarily geared at people. The prospective consumer sees your website and evaluates if your offering may help them with their problems.

After looking around the shop, the consumer can opt to order anything. Portugal Footwear is an illustration of a prosperous Business to Consumer model.


Consumer to Consumer model

This model is unique to E-commerce. This is mostly a result of the overwhelming demand on websites like Craigslist, OLX, and eBay.

Users of these sites can rent, buy, sell, and exchange goods and services. The platforms earn a small fee from each transaction. This company concept is intricate and has to be operated with great care. A lot of platforms have collapsed, usually because of legal problems.


Consumer to Business model

Another excellent idea that has gained popularity is the customer-to-business (C2B) business model, which is mostly owing to websites that cater to independent contractors. Freelancers in the C2B industry do tasks given to them by customers. These clients tend to be businesses, whereas the freelancers are frequently individuals. Consider C2B as a sole proprietorship that caters to larger enterprises, to put it simply.

This business strategy includes reverse auction websites, freelancing markets, and affiliate marketing. Again, the legal complications in this paradigm necessitate planning.


Business to Government model

A company advertises its products to government organizations as part of a business strategy known as business to government. You will need to submit bids for government contracts if you decide to use this e-commerce business model. Governments frequently post requests for proposals, and e-commerce companies must subsequently submit bids for those projects. 

Most of the time, a government organization wouldn’t visit your e-commerce website to make a purchase. Nevertheless, depending on their requirements, some local government entities may be an exception to the norm.


Business to Business to Consumer model

B2B2C e-commerce is described as when a firm sells goods to another business, which then sells those goods to consumers online.

This kind of e-commerce business strategy involves three partners. If you decide to follow it, for instance, you will need to join another company before you can sell that company’s items and pay the partner a commission on every sale.

Owners of e-commerce businesses select this business strategy mostly for gaining new clients. This occurs because, despite the fact that customers are already aware of the partner’s items, they are unable to buy from them online owing to restrictions like geography and expensive delivery charges, among other things.

Therefore, this e-commerce business strategy is most suited for new e-store proprietors who wish to increase their clientele.



Top 7 Factors That Determine the Interest Rate of Your Mortgage Loan

Buying a property requires a considerable outlay of funds. Many buyers take a property mortgage loan to finance their property. You have to repay the borrowed amount and the interest on the loan in equal monthly instalments.

The interest rates determine your EMI and also your overall interest burden. Most borrowers focus on getting the best rate for a mortgage, but do you know what factors determine mortgage loan interest rates? Read on to find out more.


7 Factors That Determine Your Mortgage Loan Interest Rate

There are many aspects to a loan, and interest is one of the crucial ones. The below-mentioned factors determine your mortgage rates:

1. Current MCLR

The marginal Cost of Funds based Lending Rate (MCLR) is the minimum rate at which the lender can offer you a loan. The MCLR further depends on factors like the operating cost, cost of funds, Cash Reserve Ratio (CRR), and tenor premium.

The MCLR is reset annually, and banks review the rates they charge borrowers annually based on the change in the MCLR. So whether it is an existing loan or a new loan, it is linked to MCLR and may increase or decrease as per changes in it.


2. Fixed Or Floating Rate

Your property mortgage rate also depends on whether it is a fixed, floating, or a combination of both.

Floating rates change as per changes made by the Reserve Bank of India. Your EMIs may go up or down depending on the changes announced by the RBI. Fixed-rate loans do not change throughout the loan tenure.

You can also choose a combination of fixed and floating rates, where the rates remain constant for some time and may change after that.


3. Loan-to-Value (LTV) Ratio

LTV ratio is the proportion of the property value you can take out for a loan. Most lenders have an upper limit fixed for the LTV ratio; you can choose to borrow a lower amount by making a larger down payment.

If your LTV ratio is high, you tend to get a higher interest rate on your loan as the lender is undertaking a bigger credit risk.


4. Credit Score

Your credit score is another factor that influences the mortgage rate. If you have a good credit rating, it shows you are a responsible borrower who is less likely to default, and this reduces the credit risk for the lender.

Lenders prefer applicants with a healthy credit history and are willing to offer them loans at lower rates. If you want the best mortgage loans, you should focus on improving your credit rating before applying for a loan.


5. Employment Details

When lenders assess the loan application, they consider the applicant’s employment records before they sanction a loan.

If you have a stable job and are employed with the same organization for a considerable period, you are considered a low-risk applicant. The lenders are willing to sanction loans to such candidates at lower rates.

Chartered accountants and doctors are considered low-risk in the self-employed category.


6. Loan Tenure

Interest rates also depend on the loan tenure. Property mortgage loan interest rate is lower for loans with a shorter term.

Though the EMI burden may be higher compared to the longer-term loan, the interest rate charged by the lender is lower.


7. Property Location

As the loan is for the property you intend to buy, its location also impacts the mortgage rates.

Properties in localities with good amenities are well-connected and have higher resale values. These properties would be expensive, but lenders would offer loans for them at lower rates.

The converse is also true. Properties in not-so-sought-after localities are less expensive, but lenders would give loans to them at higher interest. Lenders find properties with a higher resale value less risky than properties that may be difficult to sell or might not appreciate much. So they will charge higher rates for them.



If you want the best home mortgage loans, you should research well and choose a lender after careful comparison. Loans run for a long duration; the decision to take a loan today will have long-term consequences for you, so choose a reputed and reliable lender.

The above factors are the most crucial when it comes to mortgage rates. Some of these factors are beyond your control, but others you can control.



Fulfil Your Dreams By Getting An Instant Personal Loan

Instant Personal Loan Stock Picture

Remember that gadget you always wanted to buy? Or, the destination wedding you want? If you do not have enough funds to realise your dreams, worry not! You can fulfil them through a personal loan.

You can get the required funds with an instant personal loan from to fulfil your dreams or meet emergencies. Access funds on the same day as the loan application, provided you meet the eligibility criteria.


Features and Benefits of Instant Personal Loans

Here are the features of an instant personal loan to understand it better.

Digital Loans
These loans are available online. Unlike traditional loans, you can apply for instant personal loans online using smart devices. You can apply for these loans via an instant loan mobile app within a few minutes.

For example, loan apps of leading lending institutions, like the Fullerton India InstaLoan App (available only for salaried borrowers), can provide the funds shortly after the final loan approval. Also, you can keep tracking your loan application via such instant loan mobile applications.

Easy Repayment
Instant personal loans can be repaid in convenient monthly instalments. Lending institutions allow you to repay personal loans for 12-60 months. Keep the tenure longer if you want to pay a small amount as EMI.

If you can afford a larger EMI, you can repay the loan faster by choosing a shorter tenure. Use a personal loan calculator available online to calculate your personal loan EMI. It is a useful tool provided by lending institutions to help borrowers calculate their monthly EMIs.

Multipurpose Loans
Instant personal loans are multipurpose loans. Borrowers are free to use the loan amount the way they want to. It is unlike a home loan where the fund usage is specified.

Minimal requirement of Documents
You can get approval for your instant personal loan without providing documents in physical form. You can upload scanned copies of required documents in the app, and the lending institution can process your documents in real time. The required documents are mentioned below here in the post.

Fast Disbursal
Personal loans are attractive due to their fast disbursal. If you are eligible for a loan, disbursing it to your bank account is very quick, providing that your documentation is in order, and passes the lender’s verification checks.


Easy Eligibility Criteria for Instant Personal Loans

Instant personal loans are the most transparent and easily available loans in the financial market. To meet the increasing demands, reputed lending institutions like Fullerton India make the eligibility criteria for instant personal loans easy. Here are some of the basic personal loan eligibility criteria:

  • The loan applicant should be a resident Indian.
  • The age of the applicant should be between 21 years (at the time of loan application) and less than 65 years (at the time of loan maturity).
  • The applicant should be a salaried person, self-employed, or an entrepreneur.
  • The applicant’s minimum monthly income should be Rs 25,000 (for Mumbai or Delhi residents), and Rs 20,000 for others. To avoid loan rejection, the borrower should ensure that their current EMIs do not exceed 50% of their income. Applicants can also use a personal loan eligibility calculator to get an estimate of the maximum amount they may be able to borrow and apply for an amount within this limit.
  • Salaried applicants must have a minimum work experience of 1 year with at least 6 months in the current organisation.
  • You should have good credit history and a CIBIL score of 750 or more. A high credit score can be maintained by timely repayment of EMIs and credit card bills on time and in full.
  • Depending on the lending institution’s eligibility criteria, they can check for other crucial aspects for instant loan approval.

The loan amount sanctioned by the lending institution depends on various factors like the applicant’s age, credit history, nature of employment or business, employer, and others. Apply online in the comfort of your home.

What makes Fullerton InstaLoan special from others:

– Your loan amount can go as high as Rs. 25 lakhs with Fullerton India.
– Hassle-free documentation
– Completely digital process
– Dynamic tracking status
– Quick disbursal and sanction of loan

Required Documents

  • PAN
  •  Address Proof (residence and employment)
  • Passport-size Photos
  • Income Proof (for self-employed)
  • Salary slips for the last three months (for salaried)
  • Current Bank Statements (for the last six months)
  • ITR/Form 16

Instant Personal Loan Application Process

Salaried applicants can complete the loan process instantly in just four steps after installing the Fullerton India InstaLoan mobile application from the Play Store or the App Store.

  • Step 1: Create your account.
  • Step 2: Fill in your details and upload scanned copies of the required documents.
  • Step 3: Check your eligibility. Just after applying, the app will show your eligibility for your personal loan.
  • Step 4: Apply for an instant personal loan. If your application is deemed eligible, the lender’s representative will connect with you.

Download the InstaLoan App today and see your dreams turn into reality.


How do I keep track of income when self-employed

Keeping records of your income when self-employed can be difficult. It’s not just about the money you make either, but your business expenses and all of this needs to be monitored to help you keep the info you need for HM Revenue and Customs (HMRC) when it’s time to file your self-assessment tax return as a self-employed person by January 31st.

So, how do you keep track of your income whilst working in self-employment? Let’s find out below.

self employed woman

Deciding on your accounting method

Your accounting period is the same each year in the UK – from April 6th through to April 5th. The 2021-2022 tax year runs from April 6th 2021 to April 5th 2022, for example.

But that’s all that remains the same in accounting. How you choose to keep your business records for accounting is really up to you. So let’s look at the options.


Traditional accounting

Traditional accounting is simply where you record all income and expenses based on when you were given the invoices or bills. Regardless of whether you are yet to receive payments or pay the outstanding bill yourself.

For example, you might have an outstanding bill from a supplier that was given to you on March 18th 2022, but they don’t want payment until April 18th 2022. Of course, you won’t be paying them until the next tax year, but you would still include the payments in this tax year in traditional accounting because you’re concerned with when the bill was given, not when it’s due.

Cash basis accounting

Cash basis accounting is where you record all income and expenses only when the bill has been paid or the money has been received. This is typically used by self-employed individuals and most small businesses earning less than £150,000 per year, as it means you pay less tax in the accounting period as you won’t need to pay income tax on business income that hasn’t been received yet.


What records do I need to keep?

Regardless of your accounting method, you’ll still need to keep similar records. Some will be needed for your self-assessment tax return, and others simply if HMRC launches an investigation into your business income.

Keeping inadequate business records can lead to hefty fines of up to £3000, so it’s in your best interest to brush up on your record-keeping and know what exactly you need to keep. A spokesperson from the Darlington Office of Auditox Accountancy said that 80% of self-employed people who came to them after they had started their business rather than before required almost double the workload to get back on track and so ended up costing them more in the long run.

Here’s everything you’ll need to keep records of:

  • all sales and income
  • all business expenses
  • VAT records (if you’re VAT registered, not everybody is because not everybody needs to be)
  • personal income (recording where you’ve put your own personal funds into your business, too)
  • PAYE records (if you have employees)

If you’re using the traditional accounting method, you’ll also need:

  • Info about money owed but not received
  • Invoices received but not yet paid
  • Value of stock at the end of the accounting period
  • Year-end bank account balance
  • Personal investment
  • Business money used for personal use


Why is keeping records important?

Keeping accurate records is vital. It will help you fill in your self-assessment tax return but also helps HMRC work out how much income tax you will have to pay and the national insurance contributions you’ll have to make.

Without accurate records, you won’t be able to show every business expense and appropriate accounting records for HMRC to work out the taxable income you’ll pay tax on. You can read more here about bookkeeping.

Because you’re running your own business as a sole trader, you can claim business expenses, tax relief on pension contributions, and other benefits available to you that qualify you for some reduction in the amount of income tax you’ll pay that tax year. That’s because you haven’t taken home every penny of your income like you would do if you were employed by someone else, because some of your money has gone back into the business. HMRC needs to know about all of this.

By keeping accurate records and receipts of your business income and expenses, HMRC will be able to tell you how much tax you actually owe.


Business expenses

Below is a list of business expenses you’ll need to keep:

  • Travel and accommodation
  • Legal and financial costs
  • Marketing costs
  • Clothing expenses
  • Utilities
  • Subscriptions

Basically, if you have to spend money as part of your business, you should record that.


How long should I keep records?

As a small business or self-employed individual, you’ll need to keep all of your basic records for five years after the January 31st deadline.

That means all receipts, records, invoices, expenses, etc, for the 2021-2022 tax year (which is due by January 31st, 2023) will need to be kept until January 31st, 2028. This is a legal requirement and is non-negotiable.


What evidence do I need to keep?

For those five years, you simply need to keep all evidence of your business income and expenses. Evidence would include:

  • receipts for goods and stocks
  • bank statements from your business bank account (showing all account payments and income)
  • cheque book stubs
  • sales invoices (including own invoices you’ve sent out)
  • physical receipts of cash payments
  • paying in slips etc.

All of this information should show the date and information about the services that your business has paid for or your business has been paid for.


How to store this evidence

Ideally, self-employed people will store all of their record-keeping electronically, as this makes it much easier to send over to HMRC should they require it. Keeping physical copies isn’t always practical, and can result in loss or damage, which could see you receiving a hefty fine.

As Making Tax Digital is due to take full effect in April 2023, sole traders must get used to using tax software to store all their info for filing their tax returns.

Certain tax software will allow you to take pictures of physical receipts instead too, which just streamlines your record-keeping and makes everything easier.


Final thoughts

So long as you record everything (electronically if possible), choose the accounting method that works for you, and keep accurate records of all expenses and income relating to your business for 5 years after the January 31st deadline of the tax year the records relate to, then recording your income whilst self-employed is easy enough.

Then simply use the information you’ve kept to tell HMRC via the self-assessment tax return, and you can be sure that you’re meeting all legal requirements! It really is as easy as that.



How to Make Money Using Free Apps


Several apps can help you earn a side income. From banking to making purchases, we use smartphones for many chores. So why not use it to earn a little money as well? You won’t get rich, but this money may come in handy here and there.

We’ve listed a few of these apps below:

Worthy Bonds

Worthy Bonds lets you invest as little as $10 (or $1,000 if you feel like it) and gain 5% in fixed interest. The company creates and trades U.S. Securities and Exchange Commission-qualified bonds that help fuel small businesses while offering a 5% yield to you – with no fees and with access to your funds at any time. These bonds have a 36-month term.

Through the app, you can schedule how much and how often you want to purchase bonds, and the company can round up your everyday purchases to the next whole number and automatically invest this leftover change in a $10 bond. Bonds have a 36-month term but can be cashed out at any time without being penalized. The company has sold $150 million in bonds, and its 100,000 consumers have made $5.1 million in interest.

Users can also enjoy special deals from insurance to leisure and exclusive access to financial education resources.



If you’re a shutterbug constantly taking photos, you could leverage Foap to sell these pictures. Foap is a social media advertising platform that lets you upload your photo collection and sell it to well-known brands. Alternatively, you can also go on missions that require specific tasks and earn at least $50. One photo can be sold as often as you like, and every time you sell a photo on Foap, you get 50% of the commission. Foap also distributes your content through partners, such as Getty Images.

Foap lets you cash out your earnings through PayPal.



Gigwalk pays you to perform small tasks based on where you are located. Download the app and find a gig near you. Each listing includes the payment, a short description of the gig and the location. Most of the gigs are typically from retail stores looking for brand audits or feedback on products and product displays, but online gigs like website testing and surveys are also listed.

Occasionally, a business may ask a screener question, and once you’re accepted, you’ll be notified and provided with instructions. Once you’ve completed the task, there may be follow-up questions for you to answer. The app is linked to PayPal for payments.


Field Agent

Audits, research, mystery shopping, and product trials are some of the jobs that can be found on Field Agent. Once you’ve reserved a job, complete it within the time frame and make sure to follow instructions carefully in order to be paid. Jobs generally pay in the range of $3 and $20. Before you graduate to paying jobs, you have to complete ticket jobs. Jobs posted are generally on a first-come-first-served basis, so it’s best to check the app often for any new jobs. The company said it had paid more than $20 million to its agents.


Inbox Dollars

Inbox Dollars pays you for taking surveys, reading emails, completing offers, playing games or shopping online. It has a simple, easy-to-navigate user interface, and the company is transparent about how much you can earn by completing tasks. However, you can only cash out once you have $30 in your Inbox Dollars account, and a $3 processing fee is deducted from your withdrawal amount. The company also offers a $5 sign-up bonus. If you do not use the app for 10 days, your account is automatically deactivated.

Since 2000, the company has paid more than $57 million in cash rewards to its members.



Have an unused space in your home like a shed or basement? You can rent it on Neighbor and earn passive income. As a host, you decide who stores, what they store, and how they access the space. Neighbour runs a verification check and provides a $2 million host guarantee as well as a $25,000 renter guarantee. The peer-to-peer platform claims that it saves renters 50% on average, compared to self-storage and is 14 times safer than storing at a self-storage facility. Hosts are protected from unfair liability, receive guaranteed payouts, and don’t pay to use the platform.



How To Hire for Accountants in 2022


Hiring is the most demanding part of any business. Yet, it is also the crucial one. Therefore, the hiring process should be designed to uncover the perfect fit for your company.

It’s important to understand that hiring the right person will enhance your workflow and create better results for you and your team.

In this article, we’ll share some tips on hiring accountants in 2022. From understanding what skills are needed to interviewing candidates, we have answered all of your questions here:

Conduct a thorough job analysis

Before you even start your search, you must know what you’re looking for. The job analysis is a vital part of the hiring process. It can help you find the perfect person more quickly by clearly outlining what skills, qualifications, and experience are needed for each position.

Job analysis is a process by which the recruiters first collect the information about a job and then analyze it. The goal is to know what you have to look for. At the end of the job analysis process, you get a job description and specification.

Some methods to effectively conduct job analysis are as under:

  • Observation: you observe individuals performing a similar/same job somewhere and note their duties and tasks.
  • Interview: you interview individuals performing a similar/same job somewhere and ask about their responsibilities.
  • Questionnaires: you roll out questionnaire forms including the questions about their responsibilities to individuals performing a similar/same job somewhere.


Once you have chosen the job analysis methods, you can follow the following steps to conduct it thoroughly.

Step 1: Plan the job analysis

At this stage, you set the objectives of your job analysis process. As an HR person, you also involve the top management to ensure everyone’s on the same page.

Step 2: Introduce the job analysis

At this stage, you set the methodology for the job analysis. First, you have to choose either to observe or interview. You can also have a blend of multiple methods. Then, you need to communicate the preferred method(s) with the people involved.

Step 3: conduct the job analysis

At this stage, you perform the methods mentioned earlier. First, you compile the gathered data and then review it.

Step 4: create job descriptions and specifications

By utilizing the collected data in the previous step, you draft the job specifications and descriptions. The involved persons and top management then review this initial draft. At last, you finalize a job description and specification to be rolled out for the hiring process.

Step 5: maintain and update job descriptions and specifications

Creating a job description and specification is not the end. In this age of disruptive technologies, you need to keep them up-to-date as per the new changes. Hence, you must revise the job description and specifications continuously.

Once done with the job analysis process, you will have its product at hand—job description and specification.

This job description would highlight the need for accounting skills as well as expertise in managing a team or providing financial assistance.

Knowing precisely what you want before you start interviewing candidates will save both time and money—and help you find the best candidate.


Start your recruiting process

For hire image

After a thorough job analysis, you know exactly what you are looking for. Hence, now is the time to start your hunt for the right candidate. How do you find them? There are three common ways:

Internet Recruiting

The age of the internet has made it easier for employers to reach potential candidates. With the help of the internet, you can use the following ways to attract potential hires for application.

  • E-recruiting: You use internet recruiting tools, such as blogs, websites, or Twitter, to post your job description and specification.
  • Online job boards: There are special online job boards that facilitate the interaction of employers and their potential employees. The websites such as Indeed, Monster, LinkedIn, etc., allow you to post your job description and specification.
  • Employer website: You can also have a ‘hiring’ page on your website dedicated to this purpose. A good website will lure not only active job seekers but also passive job seekers.


Internal Recruiting

Employers can also find potential hires from sources within their organization. Some of them are as under:

  • Employee-focused recruiting: you get suggestions from your current employees about the right accountant to hire.
  • Current-employee referrals: if the employees know the right accountant among their acquaintances, family, and friends, they refer it to the employer.
  • Re-recruiting former employees: if you had previously excluded a good accountant from their position, possibly because you were downsizing, you could now recall them for the vacant position.


External Recruiting

Another source to find potential hires is external recruiting. Some of its ways are as under:

  • Media: Media sources include newspapers, television, magazine, billboards, digital ads, videos, webinars, and more.
  • Employment Agencies: you can take the help of an employment agency within your region. They function to connect employers and employees.
  • Job Fairs: you can either organize a job fair yourself or participate in one. Oftentimes, organizations put their stalls at job fairs and conduct walk-in interviews of the potential candidates there.


Conduct an accounting test

After the potential hires have applied for the position, you must take them to the next significant step—testing their technical knowledge. The first condition of the right person is that they must have a thorough understanding of accounting.

To assess it, you must conduct a test. It can be online or on-site. If you go with the online testing option, we recommend TestGorilla’s accounting test. It is a predesigned test by accounting experts, so you don’t need to worry about creating a new one from scratch.

It assesses a candidate’s knowledge of the accounting process, terminologies, debit/credit calculations, the creation of financial statements, and more. Simply put, it would assess all of the necessary accounting skills of a candidate. 

Or, you can also go with the on-site testing option. However, it would be costly. You will have to set up an examination hall, purchase examination stationery, hire invigilators and checkers. 

Before all of it, you will have to design the test first. In a nutshell, the onsite testing option will cost you both money and time.


Design a perfect interview

The interview should be designed to get to know the candidate’s technical accounting knowledge, work ethic, communication skills, and other essential qualities.

It’s essential to ask specific questions about what they’ve done in the past that are relevant to your position. The questions you ask should relate to the job you’re hiring for. Make sure you pay attention to their body language as well as how they answer your questions.

Here are some examples of good questions:

  • What is your accounting background?
  • Which inventory valuation method should the businesses use: LIFO, FIFO, or weighted average?
  • What is the Operating Profit Ratio?
  • Describe one time when you could improve efficiency at a previous job.


The right interview environment

If you want to find a great accountant, the interview environment is the key. In order to have a successful interview, it’s essential to understand some of the qualities of a good accountant. One way to start would be by looking for an accountant with a positive attitude.

In addition, you should also look for someone who is dependable and reliable, as these skills will make them a better fit for your business.

The best way to assess these qualities is through an interview setting where both parties feel comfortable talking with each other.

If you’re hiring remotely over the phone or via video chat, make sure you speak up and articulate what you need from them.

When you’re looking for an accountant, it’s important to understand what skills and abilities are needed. For example, if you’re looking for someone who specializes in auditing your company’s records and tracking numbers, you’re going to need a candidate who is detail-oriented and detail-driven.

To find such a candidate, you’ll want to make sure they have the following skills:

  • They can work on their own with minimal supervision
  • They ask questions when they don’t know something
  • They can follow directions well
  • They stay calm under pressure
  • They have good multitasking skills


Wrapping up

As your company grows and your accounting needs change, you’ll have to be prepared to hire a new accountant. But new skills and technologies will create a whole new set of challenges as you look for new talent.

Fortunately, there are some steps you can take today that will help ensure that your search for the perfect accountant is successful.

In this article, we’ve covered the key steps to hiring an accountant in 2022, including conducting a thorough job analysis, conducting an accounting test, designing a perfect interview, and preparing questions before the interview. 

Now it’s time to put these steps into action and find the best accountant for your business.



4 Ways Small Businesses Can Save Money by Hiring an Accountant


As a small business owner, there is no doubt you are very mindful of the money being spent. Small businesses don’t always have a lot of excess cash flow, and expenses need to make sense for the company. Trying to save the company money could be one of the reasons why you’ve been doing your own bookkeeping up until this point, rather than hiring an accountant. However, did you know that doing your bookkeeping could be costing you more money than actually hiring a professional?

Here we’ll take a look at four ways in which a company can save money and benefit by hiring a small business accountant. It may surprise you just how useful an accountant can be.


Reduce the Errors Being Made

Unless you are a trained professional, there are bound to be errors in your bookkeeping. Even seemingly small errors can end up costing the company money, and they add up over time. By hiring a professional account, you’ll reduce the errors being made, making sure that expenses and profits are carefully tracked and recorded.

Besides accurately tracking everything, this will also give you a more complete picture of your business. You can see where the money is being spent, trends that are happening and potential areas in which you can start to cut costs.


An Accountant Knows the Tax Laws and Regulations

There are also plenty of tax laws, regulations and even loopholes that business owners should be aware of and take advantage of, but again, unless you are a trained professional, you won’t know these essentials. An accountant will make sure everything is on the up and up, and if there are any places for tax savings or breaks, they will find them. If you’re looking for a small business accountant, check out


Never Incur a Tax Penalty Again

How many times have you filed your taxes late because, let’s face it, it’s a lot of work? Unfortunately, filing late means you incur tax penalties and this is an added cost. Rather than face these penalties yearly, hire an accountant to make sure you file by the deadline.


They Can Help You to Plan for the Future

Then there is the fact that an accountant can offer valuable advice and insight for the future of your business. Perhaps you are thinking of expanding into new markets in the future, maybe you want to invest in new assets and equipment, or even purchase additional office or warehouse space? An accountant can help you to make those financial plans and set targets and goals you can follow. Careful planning means you won’t make costly mistakes.

If you’re on the fence about hiring a small business accountant, the facts are very clear; not only will they take a load of responsibility and work off your shoulders, but they can also help your company to save money in many different ways. It just makes smart business and financial sense to hire one.