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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 who have basic knowledge of trading. Microaccounts are also a common choice for experts who 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 who 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 who 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.



The Digital Transformation and Benefits of Online Lending


Traditional lending is generally a long and drawn-out process, as most borrowers can relate to. Completing all required documentation and going through approval processes within a financial institution could take weeks or even months. The stringent requirements often leave out small borrowers who don’t have collateral, a good credit score, or the income stream required by these large institutions. As a result, they often ended up going to loan sharks who are not licensed or registered, putting them at risk of predatory interest rates and even harassment.


From Traditional to Digital Lending

Digitalization, or the use of digital technologies to change a business model, has spawned a whole new wave of lending options in recent times. With the exponential growth of financial activities in the digital space, many financial transactions that used to require a visit to a financial institution and submission of pages of documentation are now being conducted over the internet. 

Potential borrowers were able to browse the websites of different financial institutions, compare their rates, and fill in an application form from the comfort of their homes. As the popularity of apps arose, Silicon Valley, and online technology companies in other countries, began developing lending apps that further added to the convenience of a loan application.



Online lending brings several benefits for an individual needing emergency funding or an entrepreneur seeking finance for business expansion.

Increased financial inclusion

While there are still many underbanked and unbanked individuals, the growth of mobile use has allowed these people to go online, download lending apps, and apply for credit. 

Faster processing time

A Federal Reserve Bank survey conducted in 2019 found that 46% of respondents found the waiting period for their credit application too long while only 12% of those who used online lending platforms complained. 

It is not only the application process that is sped up, but also the payment of loan proceeds. In traditional lending, a loan check could go through several signatories before it can be released to the bank account of the borrower. Then the check has to be cleared before the borrower could get the money. With online lending, the loan can be approved as soon as 24 hours and the borrower’s bank account is immediately credited.

Easier comparison across lending companies

With many lending companies accessible through their websites and/or apps, it is so much easier for borrowers to compare interest rates and other information such as fees, penalties, and documentation required. Quick loans that do not require collateral have much higher interest rates than secured loans so comparing across different companies can get one the best terms.

Greater chance of loan approval

There are now licensed and registered online lending companies that cater to the borrowing sector that often has no collateral and poor credit scores. Traditional lending would likely reject these people. However, they have a greater chance of getting a personal loan when applying with an online lending company. It’s important to check that the lending company is duly registered, but there is now an opportunity for this sector to readily borrow online.

As new technologies expand what can be done online, it is also expected that online lending platforms will likewise grow. If we are to go by the current trends and as we see a digital transformation happening in many companies, there is more to look forward to with online lending platforms.



Key Emerging Digital Payment Trends


In recent years, there has been a shift when it comes to the use of digital payments. Reuters highlights how the use of digital wallets and payments has been steadily rising since 2017. Today, these alternative payment options are now being used by billions of consumers from all over the globe. Because of its success, more and more companies have developed a number of alternative options for consumers within these channels.

Increasing adoption of cryptocurrency and digital currency

Cryptocurrency has slowly become part of everyday life. So much so that we even listed cryptocurrency as one of our ‘Hot Stocks to Watch in 2019’. This is promising as there are several reasons why cryptocurrency, particularly Bitcoin, can be a game-changer. Firstly, cryptocurrency appeals to the younger generation while providing greater security. Cryptocurrency can also largely reduce and potentially eliminate any additional transfer costs, leading to savings for consumers. In addition to all of this, they also benefit those in third-world countries who don’t have access to traditional bank accounts. These factors have to a more mainstream acceptance of cryptocurrency. In fact, the Supreme Court has even lifted The Reserve Bank of India’s ban on dealing with cryptocurrency.


The growing popularity of branded credit cards

With the rise of online shopping, customers are turning to credit cards as a popular payment option. A feature on how to build a good credit score by Petal explains how most major retailers often have their own store credit cards, which offer store-wide discounts at the cost of higher interest rates and lower credit limits. While they can promote greater brand loyalty, they offer limited benefits for consumers compared to regular credit cards due to their lack of flexibility. This is because they can only be used in certain locations and with certain brands. On the other hand, being co-branded does away with this problem. If the card is co-branded with Mastercard, Visa, or American Express, it can be more widely used. This is why co-branded credit cards are steadily growing in popularity, drawing in consumers with desirable reward options.


The rise of e-wallets and mobile payment apps

Unlike bulky physical wallets, e-wallets and apps can be electronically stored on your mobile phone making them much more convenient for travel. Entrepreneur summarizes the various benefits of digital wallets, noting how they are rapidly evolving to adapt to the needs and lifestyles of their consumers. Unlike card payments, they allow instantaneous payments online and make it easier to keep track of your spending. They also come with promotions, and cashback rewards, and enable you to avoid expensive transaction fees. One innovative feature of e-wallets is their seamless integration with fitness wearables, such as the Apple Watch and Garmin models that enable you to make payments with these devices as well. Something that users should be aware of is the possibility of cybersecurity threats when it comes to inadequate password protection or poorly encrypted payment channels.

When it comes to keeping yourself updated with the latest digital payment trends, it’s all about being careful with regard to any security threats and hidden fees that accompany these platforms. Being mindful of your spending habits and maintaining your safety and privacy are paramount to the convenience that these cashless methods provide.



How to save money on transferring your funds between countries?



We store our funds in different places, whether it be banks, financial platforms, currency exchanges or stock markets. In today’s age of globalization, we can easily use platforms from other countries. Therefore, we start moving our money between different countries and make frequent international transactions. It generates high transaction fees, which can quickly affect our total gains.

Try online remittance platforms

Bank fees for international payments

First of all, it may be worth to research some remittance platforms. Regular international bank transfers are very expensive compared to other online alternatives. The same applies to receiving the funds, as for example some banks charge you just to get money from an overseas account. It may come in handy if you have bank accounts in few countries and want to move your money between them in a convenient and cheap way.

On average the banks charge their users $10-$25 for international SWIFT transfers. Now, sending let’s say 100 USD and exchanging it into EUR through one of the most popular online payment platforms – PayPal, costs around $4.99. The same transfer through other platform called TransferWise would cost only $1.71. At the same time, Lloyds Bank, which is one of the top British banks, charges around $12 for an international money transfer and an international wire from Australia’s ANZ bank costs around $16. You see that the difference is quite significant.

Which money transfer platform is the best?

But as you can see from our quick example, the prices can vary even between two randomly picked platforms. So, which company is the best to handle your money transfer? Well, there is no direct answer to this question. The final transaction cost depends on many factors, such as the currency, your and your recipient’s location, exchange rates, transfer method.

A good way to find out the final costs and choose platform with the best rates at given moment is to use a compare tool. For example, which specialize in gathering information about various remittance companies, created a neat calculator. All you have to do is type in how much money you need to transfer, in which currency and to what country and the platform will show you how much your transfer costs in all of the available money transfer companies. That way, you can either simply choose the top position, or research the lower entries if you are interested in other features.

Some companies may offer cheap transfers, but they might be very slow. In that case, you can simply sort the list depending on the estimated transaction times. If you are looking for the most trusted service for important payments, click on the safety and customer satisfaction categories.

It’s important to research some reviews and real user experience before giving your money to some company. Google Reviews or TrustPilot seem like the places to go. Learn about the advantages and disadvantages of particular platform.


Watch out for exchange rates

Be careful with “free” transfers

Some transfer companies, as well as banks trick their customers by providing “cheap” transaction fees. In the meantime, they provide unfavorable currency exchange rates. For example, if 1USD is equal to 0.9EUR, they may exchange your dollar for only 0.6EUR, eating that 0.3 as a hidden fee. Try to use currency conversion services, which offer rates the closets to mid-market rates (which are the rates that financial institutions use to trade currencies among themselves).

Try different currency pairs

When talking about transferring funds internationally and exchanging currencies, it’s worth noting that some currencies are cheaper to transfer than others. For example, transferring GBP to EUR might be simply cheaper than sending the same amount in USD. If you own a few currencies you can research some combinations to find the perfect configuration. When talking about these pairs, the next point is also important to have in mind…

Find local services

Some companies specialize in handling money in particular regions or countries. If you look for offers to transfer your funds between specific countries, you may find a great bargain. For example, TransferGo offers transfers between UK and Poland. Their rates in that case are significantly better than any other general remittance platform. There are many other similar examples. Remit2India, as the name indicates has a good connection with India.

To sum up, if you are handling all of your international transfers through your regular bank account, it may be worth checking some online alternatives. The remittance market has grown in recent years and these companies already process millions of transactions each day. If you have at least a few dollars on each transfer, it can add up to bigger amounts in the long term.


Types of Business Investors You Need to Know


Different Types of Business Investors

The idea of being your own boss is so exciting, but the point where this idea seems like crashing is when you think about money to kick-start your startup.

Unless you are born into a millionaire family, or you have served on a higher post for a multinational company, it is difficult to imagine that you would have enough money to see the dawn of your entrepreneurship. That’s why most startups lookout for investors to fulfil their funding requirements.

But finding an investor is also not as easy as you imagine. You will not get an investor just by pitching your idea. Moreover, considering that there are so many types of investors, picking the right one for you is also so confusing.

But you can’t select an investor randomly because your selection of an investor determines whether your venture will be a hit or flop.


Here are some types of investment you need to consider for receiving your funding:

Personal Investors

Personal investors are people close to you, your friends, family members, or anyone in close acquaintances can turn into your personal investor. What can be better than getting a helping hand financially from your acquaintance? Most probably, all the policies and paperwork will be flexible here, but you need to consider a few things.

Personal investors might not be able to lend you a huge amount of money, and involving a personal relationship in the business can be risky. Consult a lawyer and go for detailed documentation of all matters to avoid the creation of any bad blood between you two.


Venture Capitalist

Venture capitalists are people who look out for startups for investment that seem to be promising and have the potential for tremendous growth. Usually, people with a lot of money, banks and other established financial institutes are venture capitalists.

They know their investment can be a risky affair which is why they only invest in startups that have different business pitches and look different from their competitors. So, to approach a venture capitalist, you really need to have a firm idea.

A VC invests in the early stage and remains in the loop throughout the process, unlike private equity – that’s the main difference between venture capital and private equity. The venture capitalist asks for equity in return for the investment and holds a say in the company.


Angel Investors

Angel investors are the most sought-after type of investors in the world of startups because they invest in startups and small businesses for the sake of giving them a boost. Due to their intention of wellness, they usually offer to fund on favourable terms and conditions. They are the best option for those who don’t want to see someone else dominating in their company, like in the case of the venture capitalist.

As you can see that there are diverse types of investors, you will encounter while looking out funding for your business. All these types have their own pros and cons. Make sure you consider all the dimensions before choosing your fighter because – the right selection of investor matters!



How to Put Your Business on Facebook


Procedure to Put Your Business on Facebook

You know by now that Facebook is one of the most active social media platforms. With almost two billion active monthly users, it has great potential to turn into a jackpot platform for your business if you hit it right on point. Now, Facebook is no more an option for your business; it has become a necessity.

Despite the huge buzz surrounding the significance of Facebook, many businesses still consider it merely a fancy marketing tactic. But it is a lot more than that! If you are missing it from your marketing strategies, you are missing out on a big-time potential to capture a wide customer base.

Feeling motivated to land your business in the world of Facebook? Good, we are here to help you! The best thing is that putting your business on Facebook is also not rocket science. Here are given simple steps on how to create a business Facebook page without a personal account. It is just a matter of a few steps, and you will be closer to your customers – much closer.


Create a Page

The first step is to create your business page. Type on the search bar and click on Create a Page written in the top right-hand corner of the page. Once you click it, several options will unfold, including the type of business options, services you are offering and cause, etc.

Select the required option for each category, and in case you think that your business type can be categorized in more than one mentioned option, then select the one through which you want to register your business among customers.


Fill in the Required Information

Once you select your business type, a box opens that requires you to mention the name of your business, your business address, and the category of your business page. These categories are sub-types of your main business category.

After mentioning all the further details, click on ‘Get Started’. You can also check out Facebook’s terms and conditions for running a business page before clicking Get Started because once you click on it, it means that you agree to them no matter what.

Nevertheless, after clicking on ‘Get Started’, you officially get your Business Facebook Page. After that, only a few steps are left.


Set Up a Profile Picture

Next, choose a profile and cover image for your page. Don’t forget that these pictures will be a visual representation of your brand, so you can’t go with random images. Choose the picture wisely, your brand’s logo can become a great profile picture and your products an amazing cover picture.

They will not only be relevant but also give details about your brand personality the moment your customer will land on your page.


Add Details for Users

Now, you already have the basic skeleton of your brand’s Facebook page. But what if your customers need to know more about you and your services? Obviously, merely your profile and cover picture can’t help them. For this, click on Add a Short Description and pitch your brand’s essential features to your customers in max. 155 characters.

Whereas, in the About section, at the top left corner, you can edit the starting date of the business, contact information, and details of other social media accounts if any. If you are running a restaurant business, you might also be able to add specific details like menu and prices.

After doing all this, you are all set to update your first post. And starting from here, you need to have a robust Facebook marketing strategy to ensure that your social media venture writes a success story for your business.



How to turn Money into Gold

Turning money into Gold is pretty simple in this day and age. There are countless ways to buy gold coins and bullion online. However, when doing so, be sure you are buying from a highly rated website. Do your research on where are the best places and what are the best practices. Gold is not all the same, there are gold items that are made of different %’s. Gold comes in coins too and you need to understand what they are and their actual worth.

The most important thing you can take away from this is, do your research! Gold coins are all over. There are old coins that were found from the ruins of sea ships and coins that are produced in modern-day mints. The rarity of a coin, as well as other things, determine the worth of a coin. How much gold is in the coin is another factor, for example. So, coins are not just an investment, but they are more of a collectable as well. This is a fun hobby for some and also a great investment at the same time.

There are some gold coins that are much easier to buy and sell. This is an important aspect that should be understood if you plan to trade a lot of coins. Do your homework and find reputable dealers. Understand what the dealers charge to sell gold coins as well.


The Various Ways

There are many ways to turn your money into gold. We have been speaking about turning your money into physical gold, however, there are other ways as well. You can purchase gold certificates or ETFs (Exchange Traded Funds) for example. These are not the same as the physical gold option but they are essentially trading in your cash for gold.

It really depends on what you are trying to do when turning your money into gold. Are you looking to diversify your portfolio then paper gold such as the certificates and EFT may be what you need? If you are looking to protect yourself and your assets from a falling government or falling money value then you will want the actual gold coins and bullion.

These will need to be stored properly in your safe or bank to ensure you have access to it at all times. Most like to store it in their own safety so that they feel safer and can access it should there be any sort of a crash in the market.

Today you have a couple of options for money. You can use the typical currency issued by banks or you have hard assets like gold. Having all your wealth in currency leaves you vulnerable to attacks. As the governments become unstable or they borrow and make even more debt it makes the value of money very unstable. To help with the stability of wealth, it is important to diversify your funds into assets such as gold.

As with any investment, be sure that you do your homework and research. Ensure you know and understand what it is you want to achieve and how to possibly achieve it. As with any investment, there is some risk. However, without risk, there is no reward.


What to do when another business is interfering with yours?


Steps You Can Take When Another Business Interferes With Your Business

In today’s competitive business market, businesses are vying for lucrative contracts. What happens when another business interferes with your lucrative contract? You may hire a business lawyer and sue them for interfering with economic prospective.

You can sue them for intentional interference with your prospective business advantage if the other business – let’s call it BAD CORP –  disrupts or diverts the business relationship by improper methods which fall outside the boundaries of fair competition.


What are the elements of Intentional Interference With Prospective Economic Advantage?

A cause of action exists for intentional interference with another’s prospective business advantage if the defendant disrupts or diverts the business relationship of another by improper methods which fall outside the boundaries of fair competition.


Existing Prospective Business Relationship

You must show an existing business relationship or the existence of a “prospective business relationship.”


In attempting to prove a prospective business relationship, the “interference with the market” theory is speculative and insufficient as a matter of law.

A podiatrist failed to allege an existing business relationship and, thus, stated no cause of action against the operator of a medical building who induced others not to lease space to the podiatrist.

An expectancy in obtaining a government license to do business was not sufficient because it was not a commercial dealing.


Prospective Business Advantage

You must show a “reasonable expectation of economic advantage which would otherwise have accrued to you. There must have been a “probability of future economic benefit” from a business relationship, which means more than a mere “hope” or “desire.”

It must have been “reasonably probable” that the economic advantage would have been realized but for the interference. If a compelling public policy is at stake, the court may permit a greater degree of speculative advantage.


Injurious Interference

Injurious interference occurs through an intentional disruption or diversion of the business relationship of another. The loss of potential future referrals and contacts was not sufficient to constitute injurious interference.


Wrongful Conduct

You must show that injurious interference did, in fact, occur. As a safeguard against intruding on lawful competition, the act or conduct must be wrongful by some measure beyond the fact of the interference itself. BAD CORP must have engaged in wrongful conduct, separate from the interference itself, that falls outside the boundaries of fair competition.

The conduct must violate a statute or other regulation or a recognized rule of common law or an established standard of a trade or profession. The plaintiff has the burden of pleading and proving that the defendant’s conduct was independently wrongful and not privileged; the defendant no longer has the burden of proving in an affirmative defense that his conduct was privileged.

Wrongful conduct may be the use of unlawful means or means otherwise lawful but without justification. Transactions creating security interests in tort claims are not unlawful per se and not “wrongful” for purposes of the tort of interference with prospective economic advantage.


Knowledge and Intent

Bad CORP must have known of and intended to interfere with another’s prospective business advantage. You must show that the interfering business conduct was designed to disrupt the business relationship. The court may infer the intent to interfere from a defendant’s intentional performance of an act substantially certain to result in interference.


Money Damages

You must show that BAD CORP caused your business to sustain money damages. Damages must not be speculative; there must be a foreseeable harm to the plaintiff caused or to be caused by the interference.