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Future proofing your finance isn’t an easy task. What plans can serve you in the long term? Will these plans help you in the short term as well? That is why it’s necessary to find to think in the long run than in the short term so as to predict risks. It’s not just money that you should consider, but time as well to secure your company’s best interest.
Converge on what you can do best
It is essential to know your shortcomings as a person and focus instead on what you’re good at. In the 1990s, the tech industry saw a boom which led to venture capitalists investing without prior knowledge. The result? These ventures turned out to be a dud even when the industry was growing.
In the modern landscape, there are many avenues for investment. Options such as P2P lending are growing at tremendous rates, leading to companies such as Lending Club and Prosper to do well in the market. Their success came as a result of doing what they do best while focussing on what separated them from the rest.
Health saving accounts
Just like real estate, investing in your health savings will not only help you in the betterment of your health in the future but also give you the best outcome when it comes to taxes.
There are many small businesses that are in need of new equipment to deliver on the products that they sell, be it to maximise the quality or the quantity. These small businesses are also usually in need of new office spaces or a better location to facilitate growth.
This is why drawing out a loan must be seen as an investment as you cannot expand without adequate financing.
Many people are wary of investing in the stock market, be it for the company or the individual. But investing in stocks, in the long run, has only paid off. This is why an opportunity such as this cannot be left unnoticed. You don’t have to invest heavily, a very tiny portion of your savings would do. Do not invest all your money at once. Invest in small amounts over a span of time.
Before opting for the stock market, make sure to consult or hire a financial advisor since they’ll have a better idea about the current market and possibly single out mutual funds that are just right for you.
Another safe bet, as discussed previously, is real estate. You do not have to buy physical land in order to invest in real estate. A better option to invest in is real estate notes. This is, of course, a risky move, but with the right choices, you can benefit enormously.
Investing money is not everyone’s cup of tea. However, it is one of the best ways to get some money in return. There is always less chance of losing your money in investing. You will always get some amount in return. So, what are the best places where you can invest your money in today’s world? Here are some few tips on where you can invest your money at
Investing in Stock Markets is an obvious point you will read, and that is because it is one of the best options. Investing in Stock Markets has historically paid off for people. However, there are still many people who think that it is too big a risk to invest in it. The primary thing that you need to realise is that you don’t have to invest all your money into it together. Instead, invest little sums of money over time. You can also get help from some investment services which help you in investing. One of the best examples of investment services is Betterment. Betterment is an online investment company based in New York. It is a registered investment advisor and a broker-dealer.
Real Estate might not really be the way to go. Real Estate involves more risk compared to Stock-Markets. It also consists of a lot more stress, because nobody is really cut out to be a landlord. A right way here would be investing into real estate notes. How do real estate notes work? You look for a person who is investing in real estate hugely. The person will invest in a pool of areas, and you will invest money into his project. Then, he would be the person managing the estates, and he would be paying you a dividend or interest off that money.
Invest in Yourself
The best place to invest your money without having any risks involved is yourself. You can always work on some of your hobbies or interests which could potentially earn you some money. For example reading. You can start a library, and that will get you some money, and you can read how much ever you want. This way you are doing what you like do to and also you can earn money from it. All it requires is an investment in the beginning, in the library and the books. Also, the constant investment it would need is updating the books.
These are the many ways you where you can invest money and you can keep earning too. Keep investing!
Lack of funding is always the major reason for businesses failing very early. According to a recent study, almost 94% of the businesses fail due to less money or funding. Money is the base for every business. It is a competitive world out there and you need money to survive. So if you are looking to start a business, you need to consider options on how you can raise funds. Here are some things that would help.
Bootstrapping, also known as self-funding, is an effective way of financing for your startup. It would be hard for a new entrepreneur to get investors on board. It will be difficult to get people to pitch in money into your business without showing some traction and a plan for potential success. You can always use your savings or turn to your friends or family to contribute money which you can pay back later. It is also better with people you know, as then the interest rates would be flexible and those people will not be that hard on you.
Crowdfunding is one of the newer ways of raising funds for a particular business. The best thing about Crowdfunding is that, not only is it a great way to raise funds, but it also serves as a great marketing tool for your business. It is a great way to establish interest among buyers for your product. How crowdfunding works is; You put up your product or business idea on a crowdfunding platform. You describe your product, how it works, explain your business goals, how much funding you require and for what reasons. The consumers can then decide if they want to donate money for the business depending on their interests. Kickstarter is one of the famous Crowdfunding platforms in the US.
Angel Investors are individuals who have a huge amount of money with them and they invest in upcoming startups that have potential to grow into a successful business. They also provide mentoring services and assist young entrepreneurs in their decisions regarding the business. They invest a particular amount of money for a certain equity or stake in a company. It depends on the valuation of the company.
Incubators and Accelerators
Other sources of funding include Incubators and Accelerators. They are more or less similar to each other although they have some fundamental differences. Incubators are governmentally funded, take no equity, provide services like management training and office spaces. Accelerators generally take equity, are not governmentally funded. Incubators focus more on the nurturing of the business, as well as the entrepreneur and guides the business in every step of the way. Accelerators on the other hand, helps the business take a giant leap, and focuses on faster ways of making money and making the business successful.
Why do many kids go away from home for college? Because they want to be independent. However, many people tend to mess up their independence. Most people, especially students can mess up and lose all of their money by being reckless with it. So, here are some things you can do to get through college without losing any money and racking up unpayable debt.
Make and stick to a budget
Make a budget. Make sure you stick to it too. Having an adequate plan to spend your money is very important because most people tend to lose money when they are not careful enough. So you have to be careful not to get reckless and lose all the money that you have.
Save every once in a while
You should learn to save the money you have. Not up to a point where you are going to starve yourself because you want to save You can spend for basic necessities but don’t spend on unecessary things like ice cream 3 times a day, or chocolates early in the morning. You will be independent and you will have money on you as well. That does not mean that you spend it without any regard of the future.
Take advantage of student concessions
One of the major perks of being a student, in terms of expenditure is that you get concessions for almost everything that you buy. It is a selling technique of companies where they attract students with these options. Since, students are always large in number, they will get more number and the money they make.
Try not to borrow
Always try not to borrow money. Even if you have to, make sure that you take only a little amount. When you borrow, the money that you keep with yourself and the amount that you have to pay keeps on increasing with the interest rates. So, you need to keep mind that whenever you are borrowing you should pay it back as soon as possible. Racking up debts is not a pretty scene and it is definitely not an enjoyable situation to be in.
Stay safe from fraud
Many people tend to exploit students because they don’t know much about anything. You should be aware of things like this. There have been many cases where students have fallen prey for frauds like this. Also, if you live in a place where you are sharing your living space with someone else make sure that other people don’t have access to your room, your money, your cards, etc.
These are some of the things you need to keep in mind when you are in college. However, these are not only applicable when you are in college, but are also applicable all your life.
A credit score is a three digit number that tells someone how likely you are to repay a debt or a loan. Banks and lenders decide on whether they should give you the money or not based on your credit score. So it’s good to have a high credit score. However, it is not that easy to increase your credit score. It won’t increase over night. Here are some steps to increase your credit score.
Watch out for your credit card balances
You should keep a watch on your credit card balance and how you spend. Your credit score depends on how much credit you have vs how much you are using. The percentage should be low for a good credit score. So, when your balance is less, you should spend accordingly, this is not just for the sake of saving your balance, but to also keep a good ratio.
Eliminate credit card balances
John Ulzheimer, a nationally recognized credit expert said, “A good way to improve your credit score is to eliminate nuisance balances”. Those are the small balances you have on a number of credit cards. One of the major things that your score considers is just how many of your cards have balances. Hence, spending some amount in one card and something some amount in another account instead of using the same card, can hurt your score. The solution to it is by paying off all the small balances you have.
Pay up on time
The biggest point in a good credit score is monthly on-time payments. If you are bad at paying up your debts or paying them on time, it has a chance to bring your score down. This normally happens when you buy something which is worth a lot, like a vehicle, or a home. You have to make sure that you will be able to pay it every month and make sure you don’t miss out on the payments.
Don’t try to remove your debt history
It is a common misconception that having old debts in your credit report is bad. The minute some people are done paying up their debts, they immediately try to remove it from their credit report. Negative items are obviously bad for your credit score and most of them will be removed from your report after seven years. Good debt, on the other hand is beneficial for your credit score. Good debt means the debt that you have handled well and paid off. They might have a huge hand in increasing your credit score.
These are some of the things that would help in increasing your credit score. Keep in mind that it is not a fast process. It is a gradual one. You can keep these in mind while handling your credit score.