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Keys to a Successful Budget

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Here are some keys to successfully maintaining a budget (no matter if you’re a single or family household):

    • Consistent income. I know this may seem like a ‘duh’ statement but having consistent income flowing into the home will help meet target budget goals. I know there is a huge entrepreneurial boom happening and that’s awesome! I too have started the path of developing my business. However, I am in a season where I still need my 9 to 5. And it’s by choice! No, I’m not afraid to quit my job. Based on my situation, our household needs this full-time job. I’ve been with the company for almost 14 years now and provides great medical benefits for our household. That’s important because of the medical conditions within our household. I understand starting your own business, being a freelancer, or taking a number of contractor jobs as a great way for flexibility and freedom. However, if you continue to find yourself complaining about your financial situation, then its best you find you a more permanent J.O.B!
    • Intentionally
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Benefits Online Bill Pay

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Most banks and credit companies that offer online bill payment make it easier to manage and pay bills to avoid extra fees. Besides paying bills from the convenience of their computer at any time, people can save on stamp costs and the trouble of traveling all the way to a mailbox.

It is not something new to pay bills online since it is done by a vast majority of Americans. However, most of them do it with the use of different websites and providers. So, there is a possibility of missing a payment.

As an alternative, wouldn’t it be better to receive and pay bills via the bank with just one list in one place? Think of how this could simplify matters.

This is just plain and simple. The individual logs in to his bank account, then goes to the online bill pay platform. He chooses the bill provider and keys in the account number corresponding to each bill, then authorizes his bank to send the payment for him.

The bank can send the payments electronically or

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How Stress Affects Wallet

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Positive impacts of stress on your financial wellbeing

  • An anxious mind tends to think about the possible solutions to the looming predicaments. Ergo, when you are stressed with bills in your house, the brain develops a scheme that will provide cheaper alternatives that are cost-cutting, hence more savings. The survival instincts that kick in when worry occupies can be very effective reality checks to your expenditure.
  • Stress gives you the motivation to work harder and earn more money. When you are concerned about your life after retirement, or about how you will provide for your children sufficiently, you become driven and strive to generate more income so as to be financially stable later on in life.

Negative impacts of stress on your financial wellbeing

  • Stress has a negative impact on your physical and mental well-being; the two key components of human productivity and hence ability to earn. The decreasing mental and physical health culminate to taking sick days off, lack of focus and hence reduced efficiency, quantity and quality of output, therefore, hurting your income.
  • Psychological conditions attributed to

Ways Being Overweight Costs Money

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  1. Loss of income

Lost wages are the earnings an employee does not receive from their employer because they missed work or were unable to work for one reason or the other. This is lost time, and since it was unproductive, it cannot be compensated. An overweight person is bound to lose productive time because of absenteeism when seeking medical attention. This is a loss of income that can be directly attributed to being overweight.

  1. Lost earning capacity

Overweight employees suffer short-term disability resulting from the toll of health complications on the immune system and the physical strain on the patient’s anatomy. This subjects you to early retirements, translating to less income in wages and benefits due to the incapacitation. Consequently, if you remain in employment, the productive hours are bound to reduce and a resultant decrease in quality hence hampering your ability to earn income equivalent to your full potential.

  1. Higher cost of products

Manufacturers and designers develop products for the masses so as to benefit from the economies of scale which significantly reduces the cost of the product, enabling more people to afford the product. However, overweight consumers require a

Difference Between Payday and Personal Loans

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DIFFERENTIATING FACTORS

The loan amount also differs when it comes to a comparison between the two. Most banks in the UK do not lend less than 1000 pounds for a 12 month period in case of personal loans.

When it comes to cost comparison, personal ones are considerably cheaper with a maximum APR of 29.9% but one needs to have good and excellent credit. Payday loans can be usually more expensive, but it does not require any strict credit requirement.

When it comes to loan term, personal loans offer around 5 years maximum as the loan tenure. Payday have a shorter term of around two to maybe four weeks that can go upto 12 months.

When it comes to eligibility, personal loans which are offered by credit unions and banks have very strict criteria for eligibility. They generally require borrowers to have a good credit along with a fairly strong financial background. Payday loans seem much more flexible in comparison as lenders only require that the borrowers have a proper and regular source of income for qualifying.

Personal loan lenders are online lenders, banks, peer to peer lenders and credit unions whereas payday

Financing Options For Consumers

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  • Impact on the consumers

Price is a big determinant whether a customer makes a purchase or not. When a lump sum is broken down into installments, then it becomes more palatable. The behavior can be leveraged when you show the monthly financing available alongside the purchase price to show the buyer that he could very well fit the item into his or her budget.

The interest that is charged is also something that many people will think about. There are different terms of payments regarding how often they will make charges. Other things considered are the use of credit cards, flat fees, and so on. It is important to deal with a provider who offers rates that are favorable.

  • Ease

One of the things that the people look out for is how easy it is to make an application. There are options where you have to fill out pages of paperwork and can take many days to complete. Some only require very little information and only some minutes to approve.

This kind of financing is aimed at increasing your sales and therefore the application should not be made complicated. If it takes too

Basic Financial Analytics to Predict the Future

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  1. Predictive Sales Analytics or PSA

What do you think is the most vital aspect of a company? Undoubtedly, the sales revenue comes at the no. 1 spot and this is what decides the future of your company. When you adopt the PSA approach, you can easily predict the sales figure for a certain month. You can get an idea if the sales figure is going to drop for a certain period.

Accordingly, you may revise the strategies for boosting the sales or implementing the new ones to calculate how effective your prediction is. When you get a clear picture of your sales generation, your tensions and panic attacks are much lesser. You can adopt a range of competencies and strategic approaches to know about your clients, plan effectively, and achieve hassle-free workflow.

  1. Product Profitability Analytics or PPA

In this competitive market, you must know when you should exactly make your investments. It can be quite a time consuming to make an estimate of the profit, analyzing the product and its cost distinctly.

In such a situation, PPA or the Product Profitability Analytics comes as the best solution for evaluating the product and

Profit With Diamond Investing

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Let’s now take a moment to talk about how your investments are affected when a company starts to suffer losses. Companies seeking money from investors usually do so when they are in a tight financial spot that requires them to seek financial help. They turn to the general public when looking for that financial assistance. In these types of situations, the investments made are often in the form of shares, investment bonds, or debentures, with the investor receiving a share of profits if the financial tide turns for the company. These investments are a loan of sorts, with the advantage to the company being that they do not need to pay interest. Each investor, or shareholder, receives dividends and profit share that is dependent on the type of contract signed at the time of the investment. In the case of diamond investing, the investor receives a diamond in return for giving money to the company. They do not receive any interest or profits from the company after that transaction, but they are free to sell the diamond for a profit when the value of diamonds on the open market is on the rise.

One of the great

Handle Instant Wealth

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Take some time for cooling off

You need a 6-10 months’ pause to adapt to the money shock and fully understand the limits and the possibilities of the newly found wealth. It’s not uncommon to overestimate it – the fact due to which so many lottery winners fail to prioritize their goals. Certificates of deposit may be a safe way to park the money till you’ll be able to deal with it.

Emergencies first

Think of any emergency situations you have. Having funded them, you need to make sure that you’ve got an emergency fund. Many people already have one, but if you don’t have a dime in savings, that’s what needs your attention first.

Manage debt

At this point you need to act judging from the amount of your newly found wealth. Credit card debt might be your priority, but if it’s going to eat up all the money, don’t clear it up at once. You need to have some money saved for an emergency; otherwise it’s hardly possible to get out of debt. Choose the credit cards and loans with the highest interest rates.

Invest in your future

How

Control Your Bad Money Habits

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Make a Decision

Changing your bad money habits would require you to first make a critical decision in your life whether you want to change your bad money habits or not. You cannot change your bad money habits without first resolving to do so.

Taking charge and controlling your finances will afford you the power to reshape your life positively. Making the resolve in your heart to change your bad money habits is the first step, but it does not end there. What is more important is your decision to stay committed and determined every single day.

How far down have you gone? When it comes to money challenges, one problem that is very peculiar is the fact that the moment you start making financial mistakes, things begin to start piling up quickly. If you leave your financial mistakes for too long without attending to them, things may start going downhill.

How then do you get a clue as to how far down you have gone? Honestly, consider the following questions: Do you make a habit of paying your bills late? Have you pushed aside some basic financial expenses due to insufficient funds? Do