Emblix: Blog Emblix: Blog https://www.emblix.org/blog/ Copyright by Emblix en Emblix Fri, 18 Jun 2021 10:21:44 -0400 What Does Business Insurance Not Cover? One of the things that complicates many aspects of life is exceptions. This is as true in Business Insurance as it is in a broad spectrum of categories, including relationships, warranties, and civil rights. While it is wonderful to have Business Insurance available to protect your company, it is critical to identify the precise areas of risk that remain uncovered by your policies.

A  knowledgeable insurance advisor will be able to provide you with this information while discussing the specific advantages of particular Business Insurance policies you may need. Because insurance advisors do not work for a single insurance company, they can offer you a wide range of options, making your best interests their top priority.

The Benefits of Knowing What Your Business Insurance Does Not Cover

Once you understand your business’s vulnerabilities, you may be able to purchase additional insurance policies for specific high-risk areas or to prepare to handle unprotected events by setting aside funds to pay for damages out-of-pocket.

Alternatively, you may anticipate taking out loans in the unlikely event that such situations arise, or you may simply decide that you will just live with the small measure of risk involved. Whatever steps you take, it is helpful to know possible risks upfront so that you will not be blindsided.

How do insurance companies decide which types of Business Insurance to offer?

Insurance companies, like your own business, weigh the products and services they offer in terms of their bottom line since they must make a profit to continue functioning. Therefore, the greater the risk that they will have to pay claims on a particular type of insurance, the higher your premium will be.

So, if your business has a high risk of personal injury claims (e.g. if you own a construction company or a factory with dangerous machinery), you will pay more for liability coverage than a management consulting firm. On the other hand, if your business is located in a high-crime section of town, your Commercial Property Insurance may be more costly.

Insurance companies base their Business Insurance policies on tables and algorithms that give them a fair idea of how much risk they will be taking by insuring your company for different types of damage or loss. Usually, if you are willing to pay the cost, you can get just about any kind of Business Insurance you’re looking for. Interestingly, extremely rare occurrences, like falling meteors, are usually already covered by your ordinary Commercial Property Insurance.

What Business Insurance Does Not Cover

Among the losses uncovered by your Business Insurance are:

Damages caused by certain natural disasters, such as floods and earthquakes. While you likely can make a successful claim for damage caused by a burst water pipe or heavy snow, you will probably not be able to recoup losses if a river adjacent to your business overflows, unless you have purchased a separate Flood Insurance policy.

Damages to other people’s property stored at your business.

In most cases, other people’s property that is on your premises will not be covered by ordinary Business Insurance. Such property may include leased equipment, property of your customers or clients, and other people’s property that is stored off premises under your supervision.

While companies you have leased from may require you to insure their machines or appliances separately, it may be up to your discretion to purchase supplemental insurance to cover customers’ property placed in your care.

Intentional Acts of Misconduct.

If you have engaged in malfeasance, your Business Insurance will not cover you. Professional Liability Insurance provides coverage for negligence, not criminal behavior. In the same vein, your Business Insurance will not pay claims based on the deliberate destruction of your client’s property by one of your employees.

The same is true if it can be proven that you destroyed your own property and then put in an insurance claim. In such cases, in addition to not being reimbursed, you will likely be charged insurance fraud.

Besides destruction of property, other deliberate forms of illegal behavior -- such as hacking into IT systems of competitors or engaging in discriminatory hiring practices -- are never covered by Business Insurance. There is no legitimate insurance company that will provide coverage for illegal activity.

Rioting and Looting

While some Commercial Property Insurance policies explicitly disallow coverage for civil unrest, and others may allow coverage but have very high deductibles, most standard policies do cover damage that results from civil commotion and vandalism, as well as damage caused by police or other first responders. It is important to discuss specific aspects of your policies with a capable insurance advisor in order to be aware of exactly what type of coverage you have before you ever have to grapple with a catastrophe.

COVID-19

Although Business Interruption Insurance is often part of Commercial Property Insurance, physical damage to insured property (e.g. by fire) is typically the basis of such claims. Because coronavirus, though deadly and disruptive, has not destroyed property, insurance companies have been turning down claims that businesses have become “inoperable” due to the effects of the virus. As a matter of fact, after the SARS outbreak in 2003, when hotels in Hong Kong received millions of dollars from their insurance companies, many U.S. insurance companies made specific coverage exemptions for “viruses.” In spite of federal and state aid, many businesses are suffering to keep their businesses afloat or have already lost them. The refusal of insurance companies to pay for coverage during the pandemic is a controversial issue that will probably be addressed legislatively or in the courts.

The Takeaway

Since the whole point of having insurance is being proactive, do yourself a favor and engage now in understanding what your Business Insurance policies are likely to pay and not pay if you have a serious problem. Discussing your insurance needs with an experienced insurance advisor is the best place to start.

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guide https://www.emblix.org/blog/what-does-business-insurance-not-cover/ https://www.emblix.org/blog/what-does-business-insurance-not-cover/ Editor Wed, 09 Jun 2021 10:11:54 -0400
How Digital Marketing for Your Business Could Be the Difference Between Success and Failure As the world becomes more digital each year, the importance of digital marketing is at an all-time high. Gone are the days of advertising your business in the local newspaper. Now, your reach has to extend to social media and other online outlets.

To secure the future of your business, you need a well-thought-out digital marketing budget that will help increase your return on investment. Having a lot of money and knowing where to invest it are two different things. If you don’t allocate your funds properly, your business will suffer.

Why Do You Need a Budget?

For a startup, it can be easy to rest on your laurels and calculate your income in your head. But once you reach the point of generating more revenue, it is vital to account for your income and expenses. Otherwise, how would you know if your business is, in fact, profitable?

If your business is not at the stage of hiring an account management team, consider one of the numerous accounting software programs available to you. These apps will give you the numbers that you need to know to keep your business on track.

Budgets are a crucial factor in making the right decisions for your business. Most first-year companies have some debt obligation, whether it be a business loan or a personal loan. In these situations, you don’t get to retain all of your year-end income. Account for the debt that you have to pay off.

Without an account management system, you may forget about these expenses and end up in more debt due to miscalculation. Loan companies aren’t going to play nice if you don’t uphold your end of the bargain. This situation is the downfall of many startup businesses.

As we’ll get into in our next section, a budget also helps you track the success rate of your investments. Naturally, you want to be earning more money than you put into a marketing campaign. Even if you bring in some new customers from an ad campaign, you won’t see a dime in profit if you go over budget.

Types of Marketing and Their Costs

Digital marketing is the lifeblood of your business, especially if you run a global company. Fortunately, reaching millions of people with a marketing campaign has never been easier.

With the booming popularity of social media and the internet in general, you need to take advantage of platforms that will help grow your business.

SEO

Search Engine Optimization is the most organic way to introduce your company to customers around the world. If you have a knack for content creation, this marketing tool could cost you nothing. The goal is to generate content that answers the questions of your target customer base while incorporating keywords that will help you rank high on search engines like Google and Yahoo.

If you need assistance with ranking high on SEO, there are thousands of copywriters who work freelance.

Email Marketing

Always be reaching out to potential customers through email. This method is the easiest way to connect directly with your audience base. Several programs help you track the success of an email campaign, like MailChimp and Campaign Monitor.

The costs of these apps vary but are usually relatively cheap.

PPC Ads

Pay-per-click ads work precisely how their name suggests. You only pay when someone clicks the link you’re promoting. You’ll be able to list your website link at the top of topical search queries in your industry. Better yet, you set your budget for the campaign beforehand. Once your ad reaches your set budget, the campaign will end, so you never overspend.

As you can see, most of these marketing types are relatively inexpensive. The key is to make the most out of them to increase your return on investment. Other affordable marketing tactics include social media marketing, affiliate ads, and online press releases.

Find the one that works best for you!

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guide https://www.emblix.org/blog/how-digital-marketing-for-your-business-could-be-the-difference-between-success-and-failure/ https://www.emblix.org/blog/how-digital-marketing-for-your-business-could-be-the-difference-between-success-and-failure/ Editor Wed, 28 Apr 2021 23:04:38 -0400
How To Prepare For Retirement With Precious Metal IRA Some people hate the idea of retiring. They love the thrill of challenging work, and they’d miss the camaraderie and daily structure. We get it. But still, it’s important to think about saving for retirement, even if you’re not planning to retire soon. At a minimum, you’ll need savings to cover basic expenses like food and housing. If you want any kind of retirement lifestyle, you’ll need to plan for it with extra savings.

The traditional retirement plan is to save money for an amount that will sustain you over the course of your retirement. This retirement amount is known as your retirement target. A common rule is to calculate how much you can spend in retirement without running out of money and divide that amount by 4, never less, or it would be impossible to reach. This means that if you can afford to spend $60,000 per year in retirement, you will need a reserve of $1.2 million.

Retirement is a big chunk of time in the future.  We think about it but never act on it.  The truth is, you need to take the first step to retirement today by setting up an IRA account.   An IRA (Individual Retirement Account) is an investment account that you can open on your own.  

There are two types of IRAs you can open:

  • Traditional IRA
  • You don’t have to be a billionaire to take advantage of gold investments. A traditional IRA can be a great tool to help diversify your portfolio, especially in today’s volatile financial market.

A traditional IRA is an account that allows your money to grow tax-free until you withdraw it. One of the great benefits of investing in gold is that you can avoid paying capital gains tax on your investment. By investing in a traditional IRA, you don’t have to pay the taxes you normally would on investing in gold.

The investment decision of choosing how you will save for retirement is a complex one. There are many factors to consider, including your personal risk tolerance, the size of the investment, your time horizon, the size of the account, and the current state of the economy. Here’s a little secret that no investment advisor will tell you: in general, it’s a bad idea to invest your retirement savings in precious metals. This isn’t to say that precious metals are bad investments, but for the average person, they simply aren’t the best. For individuals with a high-risk tolerance, they can be a great way to protect against inflation and a declining dollar.

But before you consider investing in precious metals, you should consider all your options.

In order to open an IRA account, you require three things:

    1. income
    2. a bank account
    3. a Tax Identification Number (TIN)
  • Roth IRA

A Roth IRA is an individual retirement account that is described as a “personal savings plan that uses after-tax money to save for retirement." What makes this account so unique is that all of the money you put into the account is not taxed when you take it out.

Since the Roth IRA uses after-tax money to save for retirement, the rules for contributions are different than those of a traditional IRA or a 401(k). And because of that, there is a limit on how much you can contribute to a Roth IRA each year. In 2018, you can put up to $5,500 into your Roth IRA if you are under the age of 50.

Much of the value of a Roth IRA is in the future: the longer you have the account, the more your money can grow. But that’s not the only benefit. A Roth IRA can provide an additional retirement income stream in retirement. Specifically, you can withdraw your contributions at any time without penalty. Meanwhile, if you make your contributions before the end of the year, they can grow in your Roth over the next five years—without taxes.

The Roth IRA is considered the best retirement investment by many experts and has a few advantages that make it a smart choice for investors. The Roth IRA will give you more flexibility than most retirement accounts since you’re not required to start withdrawing money from it when you reach a certain age. Unlike a traditional IRA, you can make contributions well beyond the age of 70-1/2, so you can keep as much money invested as possible.

You can start with a traditional IRA and later convert to a Roth IRA. The IRA stands for the Individual Retirement Account. It is a financial plan that makes it possible for people to save money for their retirement.  The IRA is a tax-advantaged investment vehicle where the investors have the opportunity to save and invest their money in different investment options.  The investors can withdraw the amount anytime before the age of 59 without paying any penalty tax. The investors are allowed to transform the account into a Roth IRA without paying any tax to the Internal Revenue Service.

You can invest in a precious metals IRA but beware of scammy companies that tout high returns. If you’re looking to invest in a precious metals IRA, you’ve likely come across companies that tout high-interest rates to get your attention. Many of these same companies also offer high-priced or complex investments that can end up costing you a fortune in the long run.

Retiring is all about freedom, but planning for it can sometimes feel like a prison sentence. How much money will I need to retire? Where can I get it? Will my savings be enough after I retire? These are all common questions posed by investors just like you. By investing in precious metal IRAs, you can not only add a hedge against inflation and protect your savings, but you can also diversify your portfolio. And, before you can say hands off my 401(k),¡± this plan allows you to roll over existing retirement accounts.

If you’re wondering what a precious metal IRA is or how it works, then you’re not alone. So far, only a few people know about this investment opportunity. A precious metal IRA is a Self-Directed IRA that allows you to invest in physical precious metals, like gold and silver. It’s a great way to diversify your retirement portfolio and take advantage of opportunities in the current market.

No matter what your age, now is a good time to start preparing for retirement. If you are in your 50’s and 60’s, the best way to prepare is to invest in precious metals.  It’s easy to open a precious metal IRA, and any qualified individual can contribute to it.

Instead of sticking your money in a savings account, or placing your trust in a mutual fund, or starting buying individual stocks, you might be tempted to consider precious metal IRA. Although you can use precious metal IRAs to invest in gold, silver, or other precious metals, it should be noted that you cannot use precious metal IRAs to invest in an actual physical metal. Instead, it is the underlying assets that are stored away in a depository, and if you decide to liquidate your investment, you might have to pay a withdrawal fee. If that isn’t something you are interested in, then it is important to note that there are certain precious metal IRAs that are backed by a full physical metal.

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guide https://www.emblix.org/blog/how-to-prepare-for-retirement-with-precious-metal-ira/ https://www.emblix.org/blog/how-to-prepare-for-retirement-with-precious-metal-ira/ Editor Tue, 27 Apr 2021 02:31:44 -0400
Mistakes to Avoid When Making Global Payments (KW)

When making global payments, it is important to pay attention to the currency exchange. Currency exchanges make a big difference in determining the amount of money your company will spend or receive, and keeping an eye on the factors that influence them is an important part of conducting business internationally.

When you make mistakes with international transactions, there are often severe consequences. These may be as simple as losing money in the exchange, but it could be as complex as fines and soured business relationships. To that end, you should keep the following in mind as you conduct your business to prevent problems and save yourself money.

Don’t Make Lots of Small Transactions

Every single transaction your business makes must be recorded, detailed and accounted for. For accounting purposes, the fewer of these there are, the better. And, for international transactions, the benefits only increase as you don’t have to worry about exchange rates nearly as often.

Don’t Ignore Current Exchange Rates

Speaking of exchange rates, these are the most critical part of any international currency exchange. Depending on the current market conditions, your money may be worth substantially more or less than the currency you are exchanging. Even relatively small differences can lead to large profit losses, which makes your timing an essential consideration.

Don’t Forget to Choose Your Timing

The timing of your transactions must be considered to best suit your expectations. For some companies, this means agreeing to a certain exchange rate at the beginning of the contract when conditions are favourable for both parties. It is also pertinent to consider regional holidays, which may impact the speed of the transaction.

Don’t Neglect the Details

There is a lot of fine print that comes with international transactions, and each of them can have a profound impact on the cost of the business. From incorrect account details to overlooked transaction fees, every part of the transaction should be scrutinized. Having a business currency exchange on your side during the transaction gives you access to experts in the field who can scrutinize and approve the documents based on best practices and your interests.

This includes the proper identification of your recipient. If the account information is incorrect and the money is transferred incorrectly, it can quickly become a costly mistake. Verifying the account details before the transaction occurs is a great way to prevent these kinds of clerical mistakes.

Don’t Forget to Work with a Business Currency Exchange

Remember, when it comes to making global payments, the best way to ensure a good transaction is to use a business currency exchange service. These services make it easy to choose your timing for all your international transactions.

But, there is also no need to choose the first company you find. it is important to shop around for the company with the best exchange rates. And don’t forget to actually like doing business with them, as they often prove to be valuable assets for both large and small businesses.

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guide https://www.emblix.org/blog/mistakes-to-avoid-when-making-global-payments-kw/ https://www.emblix.org/blog/mistakes-to-avoid-when-making-global-payments-kw/ Editor Sat, 17 Apr 2021 11:18:32 -0400
What Happens in a Canadian Bankruptcy?

The world seems to revolve around money. In our current day and age, at least. It is, therefore, essential to remain financially literate and ensure you are keeping track of your finances. Unfortunately, that is often more difficult to do than to say.

For most Canadians, debt is just a part of our daily lives. Some of us have more than others, while others may have more equity. For some, though, their debt has become unmanageable. They struggle to keep their head up as bills continue to pile on and debtors are constantly trying to get in contact with them. Depending on the amount of debt, they may be faced with very difficult decisions.

One of the most difficult decisions anyone can make is the decision to file for bankruptcy. Luckily, you cannot actually do this process on your own, so it will be done with the help of a Licensed Insolvency Trustee (LIT). Let’s look at how the process begins.

How to Begin Filing for Bankruptcy

The first step in filing for bankruptcy is a consultation with a LIT. Indeed, you must either prove that you tried to work with two LITs or get the services of one of them before you can proceed with your bankruptcy filing. This helps to ensure that people do not take advantage of the system. It further helps prevent people who may be able to use consumer debt proposals or debt settlement programs from making hasty decisions.

Responsibilities During the Bankruptcy

According to the Government of Canada, there are several responsibilities you must undertake to file for bankruptcy, including:

  • disclose to the LIT information about all of your assets (property) and liabilities (debts)
  • advise the LIT of any property that was sold or transferred (disposed of) in the past few years
  • surrender all your credit cards to the LIT
  • attend the first meeting of creditors (if a meeting is requested)
  • attend two counselling sessions
  • advise the LIT in writing of any address changes
  • if required, attend an examination at the Office of the Superintendent of Bankruptcy
  • assist the LIT as needed in administering your estate

After the Filing

Once you and your LIT have filed your bankruptcy claim with the Office of the Superintendent of Bankruptcy (OSB), several actions will occur:

  • Your wages will stop being garnished
  • You will stop making payments to your creditors
  • All lawsuits against you from creditors will cease

These preliminary actions are of great benefit to you, but they do come with certain drawbacks. The process of bankruptcy is not without consequences, as your assets will then be sold by your LIT. Any proceeds from these sales will be held as payment to your creditors, who will be notified.

Additionally, you will have to attend two financial counselling sessions. These will help you gain a better understanding of your financial situation and teach you the skills of financial literacy. They are a mandatory requirement of your bankruptcy claim.

To learn more about your options for obtaining financial freedom and bankruptcy, contact Reynolds and Associates. They have the information you need to make an informed decision about your finances, and can provide you with practical advice.

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guide https://www.emblix.org/blog/what-happens-in-a-canadian-bankruptcy/ https://www.emblix.org/blog/what-happens-in-a-canadian-bankruptcy/ Editor Tue, 15 Dec 2020 02:00:26 -0500
Ant Group Shows the Influence of Ecommerce with Largest-Ever IPO While most companies are facing a financial crisis in this COVID-19 era, Ant Group, the highest-valued FinTech company of the world, hardly seems to slow down due to the pandemic. The affiliate company of the Alibaba Group in China has created history by making the biggest share sale ever.

On Monday, 26 October, Jack Ma’s Ant Group made the biggest IPO in history when it priced its listing to two popular exchanges, namely the Hong Kong Stock Exchange and the Shanghai Star Market. The price per share was 80 Hong Kong dollars ($10.32) on the former, and at 68.8 yuan ($10.26) on the latter, as per the regulatory filings released on that day.

As the news surfaces, Ant Group with this huge share sale is a big win not only for this Chinese tech company but also for the entire stock market of the country. Ant Group is reportedly gearing up for hitting an IPO record of $34 billion; the company will be given a value of more than $310 billion.

The previous highest IPO record was held by Aramco, a Saudi state oil company, in which it had raised $29.4 billion when it took its shares on the Riyadh exchange in December 2019.

Beijing believes that Ant group’s decision of selling 1.67 billion shares in both the exchanges will be beneficial in the near future as it will attract the institutional investors it has been courting for a long time.

The Ant Group IPO indicates how online payments are influencing and changing the ways of doing eCommerce in China.

Influential Tech Giant

Ant Group is a financial tech company affiliated with Alibaba, the Chinese eCommerce group. In 2014, Alibaba went public on the New York Stock Exchange, which was also a world-record making IPO. Following the success Ma had with Alibaba, Ant Group has become to be among the world’s most powerful tech companies. Due to the profit earned from the share sale, Ma now has complete control over Ant.

Ant has established a strong presence in almost all aspects of Chinese financial life, starting from micro-savings products and investments accounts to credit score, insurance sectors, and even various dating profiles.

As reported in regulatory filings in September, the company’s payments application, Alipay had gained 731 million active users every month, having a total reach of 1.3 billion users worldwide. This payment platform managed 118 trillion yuan in payments in a period of 12 months since June. Currently, according to Ant, Alipay is reportedly processing over $17 trillion in digital payments linked to China, as estimated for this period.

The company declared that it has earned about 43% increase in revenue to 118.2 billion yuan in the nine-month period till September. The gross profit gained for the period increased by 74% to 69.5 billion yuan.

Senior geotechnology analysts at Eurasia Group, Xiaomeng Lu, opined that Ant is expected to receive good benefits from the latest economic development plans of the Chinese government. He believes that Ant is considered as a “national technology champion”, marked by its investments in AI and blockchain, which according to him are the priorities for Xi Jinping, Chinese President.

Lu further noted that Ant Group faces tough competition within the country from the rival company, Tencent. Besides, potential regulatory pressure coming from other countries like the United States might limit Ant’s opportunities of growing or expanding abroad.

Coming back to the listed documents associated with Alipay, we can see that it has branched out from its initial services as an escrow between online buyers and sellers. Ant claims that Alipay now has over 80 million active merchants each month.

Ant further said that it aims at creating the required platform and infrastructure to provide full support to the service industry’s digital transformation. This flexibility means that firms have the power to expand their models in a horizontal line to efficiently add new offerings and services for their target markets that are already at scale.

As far as other stakes are concerned, Ant also has non-controlling interests in the popular Indian payment app, Paytm. As seen at the end of the previous year, Ant Group and SoftBank, a Japanese multinational conglomerate, together with a group of investors, is reported to invest $1 billion in Paytm, which is accelerating the growth of the Indian digital payments sector. This is expected to be as huge as $1 trillion by 2023.

Future Developments

Ant’s efforts are seen in the development of the Chinese ecosystem. Ant extends loans in CreditTech, which is further backed by 100 FI (Financial Institution) partners. The company declares that 98% of these FI partners are securitized or underwritten. Reports say that for the 6 months through 30 June 2020, CreditTech was responsible for 39.4% of sales.

On the other hand, InvestmentTech, the largest Chinese online investment platform, contributed about 16% of the total revenue. In its filings, Ant notes that it uses AI (artificial intelligence) for matching investors with the required financial products defending on risk profiles. Looking at the success of InsureTech in the 6 months ending in June, it covers health, life, property, and casualty with 4.1 trillion RMB, and represented 16% of sales in the said period.

Such growths are a clear indication that the pandemic has not made any negative impact on the development of the company. The core merchant services and digital payments business was set at a little over a third of revenues, and rose 13% to reach 26 trillion RMB. while InvestmentTech surged 55%, CreditTech saw a rise of 60%.

Considering the recent trends, Ant said that beyond June, Alipay digital payment app MAUs received an increase in its revenue from 711 million till June 30 to 731 million till September 30, which is a profit of 2.8%. Additionally, the consolidated revenues through the nine-month period ending in September were shot up 43% to 118 trillion RMB recently.

Final Words

Highlighting on the question of where the money is flowing, Ma’s Ant Group declared that it would use nearly 10% of the proceeds it got from the Hong Kong listing and would focus on digitizing the service industry, which is the company’s vision. Further, it will allocate 40% to expand and develop all its cross-border efforts.

The good news is about 60% of customers feel that digital options like the new forms of POS and alternative credit options, such as BNPL (‘buy now, pay later’), has greater influence on the how and where they shop. Touchless payments and well-developed eCommerce checkout systems are gaining popularity in this COVID-19 crisis, a period when cash payments are avoided to prevent the transmission of the deadly virus.

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guide https://www.emblix.org/blog/ant-group-shows-the-influence-of-ecommerce-with-largest-ever-ipo/ https://www.emblix.org/blog/ant-group-shows-the-influence-of-ecommerce-with-largest-ever-ipo/ Editor Thu, 19 Nov 2020 08:06:32 -0500
Why can't startup businesses easily get financing from banks? Are you wondering why the banks reject the application of startup loans. If yes then this article has got you covered with the details. You will not agree more that it is very hard for small businesses to find commercial loans for the business startup. New businesses are not given loans because banks find it a risky venture. You might not agree that business starts off risky but there are certain things which lenders expect from the borrower and that is why it is considered a risky process. Let's dig into the factors .

Owning Assets for start up business loans

You need to keep in mind that banks expect a borrower to have a capital which the business assets that can be used for creating services or products. These are the assets which can later be converted into cash or making a repayment of loan. And sadly new businesses are already starting from scratch and that is why they do not own such assets. This is also possibly true for service based businesses as they are just starting out and you do not have much to offer apart from the services or manual labour. Moreover, banks find it hard to trust new startups because they are not able to have a track record. Banks expect a borrower to have a track record or the capacity which shows that their startup will be able to generate enough money. But sadly such a proof is not available for a person who is just starting out from the scratch.

Good credit for start up business loans

Lastly, a bank expects a borrower to own a good character which has to do with a good credit rating. If you have been paying your credit on time means then it will work in your favour because it is a prerequisite. Poor ratings will surely turn the banks much more quickly.

Further, the bank will not give you a loan if you lack experience. Banks have their trust issues and that is why they will deny start up business loans to someone who has not even had a year of experience in working professionally. Apart from the experience, the bank also sees that if borrowers own management skills, if you do not have an experienced management team to handle your finances then they will surely turn you down .

Lack of customer base

Another reason for which other businesses cannot easily get finance have to do with the lack of a customer base. This might seem illogical but you cannot get financed until you have a customer base. You might argue that customers based begin to expand once the business gets established and that's why you need start up business loans for. But contrary to his logic the bank expects and demands that you get creative and have a customer base in advance .

For all the above reasons mentioned it is hard to get start up business loans. But you can still try  your best to craft a business plan carefully which could answer the question which banks might question or object to. You should have every plan of your business so that they can rely and trust on your startup.

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guide https://www.emblix.org/blog/why-cant-startup-businesses-easily-get-financing-from-banks/ https://www.emblix.org/blog/why-cant-startup-businesses-easily-get-financing-from-banks/ Editor Mon, 09 Nov 2020 09:25:40 -0500
Can Bankruptcy Help Prevent My Car From Being Repossessed?

According to The Washington Post; "A record 7 million Americans are 3 months behind on their car payments" - February 2019. That title says it all. In other words, if you are filing bankruptcy and have missed your car payments, but you still want to keep your car, you are not alone.

The Credit Union Journal has a recent article in the May 2019 edition titled; "In avoiding subprime auto loans, are Credit Unions shunning their roots?" It turns out that car loan defaults are once again at historic highs. This is a nationwide problem for lenders, and not just locally here in Ventura County or Los Angeles County.

There are legal remedies you can deploy to stop your car from being repossessed. Many consumers do not realize that under both Chapter 7 and Chapter 13 Bankruptcy Law you can temporarily prevent car repossession by your lender. This is because during bankruptcy proceedings the court issues an "Automatic Stay" prohibiting and preventing the lender from repossessing your car. The lender can ask the court remove the 'automatic stay' and if the court agrees, the lender may take possession of the car anyway, but this temporary stay may be all you need to get the lender's attention to work with you and your attorney on a modified repayment plan.

The best way to deal with this situation is to be in contact with your car lender, and it's best to do that through a bankruptcy attorney, it holds more weight. It also stops the lender from trying to bully you. Your attorney can renegotiate the terms and help you set up a new payment structure thus, allowing you to keep your automobile in a bankruptcy.

Consider if you will that lenders don't really want to repossess cars, they are not in the automotive business, they are in the lending business, they just want to be paid, as per the original agreement. If they realize that isn't going to happen, they will weigh their options and consider what's best for them. Perhaps, a reduced interest rate, reduced balance, or renegotiated terms are better for the lender than a repossessed used car with low resell market value due to wear and tear and depreciation. Face it lenders do not want to lose any more money than they absolutely have to.

Another important point you must remember; the 'automatic bankruptcy stay' is only temporary, and if you haven't been making timely payments, once your case is closed you can expect the lender to demand return of the car or they will repossess it. Also keep in mind that the stay is only good during the bankruptcy proceedings which for Chapter 7 lasts about 3 months or so.

What's the Best Way to Prevent Car Repossession During Bankruptcy Court Proceedings?

  • Make the payments
  • Make up missed payment
  • Come up with a repayment plan, ask court to approve it
  • Stay in contact with the lender through your attorney
  • Ask for some help perhaps paying interest only for a couple of payments
  • Renegotiate the Car Loan
  • Ask court if you can buy your car back for its fair market value (Redeeming Your Car under Chapter 7 Bankruptcy Law).
  • Ask your bankruptcy attorney about 'cramdown' strategies in Chapter 13 bankruptcy
What Can You Do If Your Car Is Repossessed Before the Bankruptcy Filing Date?

Ask your bankruptcy attorney to help you come up with a repayment plan so the lender can get the missed payments. If this has happened to you, and if your car has already been repossessed, do not delay. Call your bankruptcy attorney now! That's probably the best advice of all.

Summing it all up!

You need to know your rights and understand the motivations of your lender. You need a good solid bankruptcy lawyer who works for you, one who has dealt with the local lenders here in Ventura and LA County. An attorney who gets it and has decades of experience. With the right strategy, you'll be able to keep your car, prevent humiliation, and prevent loss of your transportation. After all, we live in California and you need a car.

Lance Winslow has launched a new series of eBooks on the Mobile Detailing Business. Lance Winslow is a retired Founder of a The Detail Guys, a Nationwide Franchise Chain, and now runs the Online Think Tank; http://www.worldthinktank.net.

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guide https://www.emblix.org/blog/can-bankruptcy-help-prevent-my-car-from-being-repossessed/ https://www.emblix.org/blog/can-bankruptcy-help-prevent-my-car-from-being-repossessed/ Editor Fri, 16 Oct 2020 04:45:12 -0400
6 Most Common Mistakes That New Bitcoin Traders Make

Are you thinking of getting started in the world of crypto trading? If so, make sure you avoid the most common mistakes. You will be better than most of crypto traders by avoiding these mistakes. The interesting thing is that almost every trader makes these mistakes without even realizing it. Without further ado, let's check out those common mistakes. Read on to find out more.

1. Emotional decision making

Beginners tend to trade emotionally. But the thing is that trading has nothing to do with your emotions. As a matter of fact, if you make decisions based on your emotions, you will be heading on the road failure.

2. Buying high and selling low

Another common mistake that beginners make is buying high and selling low. You don't want to get greedy while doing this business. What you need to do is buy low and sell high. This is the only way to make a profit trading Bitcoin.

3. Selling at once

Due to the two mistakes mentioned above, beginners purchase or sell their Bitcoins at once rather than buy and sell them gradually in small quantities. If you ask an experienced trader, they will ask you to sell 20% of your Bitcoin post 50% profit. But the problem is that new traders are too gready to sell. Therefore, they don't have the money to purchase dips. Some of them sell all of their Bitcoins at once.

4. Buying wrong currencies

New commerce purchase cryptocurrencies that make tons of promises using big words. But they don't know that these currencies don't provide any technical innovations, such as Litecoin, NEO, Tron and EOS, to name a few. The problem is that they are quite centralized blockchains. Therefore you may want to avoid them.

5. Putting your eggs in too many baskets

Because of the previous mistake, beginners tend to invest in a lot of cryptocurrencies. This is not a good idea as it can make it difficult for you to earn profits. Ideally, you may want to invest in 3 to 4 coins. In the world of cryptocurrency, you cannot afford to put all your eggs in tons of baskets.

6. Putting all eggs in one basket

Another common mistake is to put all your eggs in the same basket. Ideally, you must have a well-diversified portfolio. Apart from this, you may not want to deposit all your cryptocurrencies in the same wallet or exchange. What you need to do is make use of a minimum of three wallets. This will help you protect your investment.

Long story short, these are just some of the most common mistakes new cryptocurrency traders make. If you follow these steps, you will be less likely to make these mistakes. As a result, your investment will be safe and you will be more likely to make a profit rather than suffer a loss. Hopefully, these tips will help you get started as a new trader and make a lot of profit.

Do you want to buy or sell Bitcoin? If so, we suggest that you check out Bitcoin Trucker for more information.

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guide https://www.emblix.org/blog/6-most-common-mistakes-that-new-bitcoin-traders-make/ https://www.emblix.org/blog/6-most-common-mistakes-that-new-bitcoin-traders-make/ Editor Fri, 16 Oct 2020 04:41:31 -0400
2020 Study Reveals What Medicare Supplement Insurance Plans Seniors Buy Seniors turning 65 face a rather daunting task, picking a Medicare insurance plan that suits their present needs and budget. What makes the decision harder is the fact that the choice may need to meet their future needs as well. Predicting the future which could easily be 20 years is never easy.

Making the process even harder is that at the end of 2019, Medicare changed the rules. The most popular Medicare Supplement plan choice, Plan F, would no longer be available to future new enrollees.

For years, many insurance agents tried to simplify the decision for consumers by letting them know that Plan F, or the High Deductible Plan F version, were clearly the most popular choice.

That's why the first analysis of Medicare Supplement insurance buying patterns can be helpful. For the sake of clarity, Medicare Supplement is often referred to as Medigap.

One of the key advantages of a Medigap policy is the ability to use any medical professional who accepts Medicare. Medicare Advantage plans offer many attractive benefits - often a low or no-cost option is what stands out on television ads. That said, these plans may have specified providers and other limitations that make comparisons vitally important.

The first analysis of new 2020 Medicare enrollees selecting Medicare Supplement found that Medigap Plan G was the overwhelming choice. Some 66 percent of individuals chose this option. Plan N was the second most-popular plan choice with 18 percent of new applicants.

According to the American Association for Medicare Supplement Insurance, which published the findings, Medigap Plans A & B were selected by two (2) percent of new enrollees. The balance allocated their choices to other available plans. Massachusetts, Minnesota, and Wisconsin, have a different set of standardized plans, through a federal waiver.

Two valuable resources can help seniors find the best Medicare Supplement plan options. The first is a report showing the lowest as well as the highest cost. The Medicare Plan G Price Index lists rates for men and women turning 65 and reports prices for major cities across the country.

Rates can differ significantly. Often virtually identical coverage can cost twice as much. Furthermore, no one insurance company always had the lowest cost and likewise no insurer consistently had the highest cost.

The second resource is an online directory listing local Medicare insurance agents by Zip Code. The directory is free to use and completely private allowing consumers to see agent information without having to enter any personal information. Many of the agents can offer advise on all Medicare options including Medicare Advantage, Medigap as well as Medicare drug plan options.

Established in 2000, the American Association for Medicare Supplement Insurance is an advocacy and informational organization that strives to create heightened awareness for the many Medicare insurance planning options and supports insurance professionals who market Medicare insurance.

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guide https://www.emblix.org/blog/2020-study-reveals-what-medicare-supplement-insurance-plans-seniors-buy/ https://www.emblix.org/blog/2020-study-reveals-what-medicare-supplement-insurance-plans-seniors-buy/ Editor Sun, 04 Oct 2020 04:46:31 -0400
How to Increase Efficiency in an Accountancy Practice Through Technology Efficiency improvement has significant benefits to you and your practice. For example, improving the time it takes to do a job from 25 hours to 15 hours will significantly improve your bottom line. It will also allow you to have a much more manageable and controllable business. A business that works efficiently is less likely to make mistakes and be a lot less stressful for everyone, including the clients. Archimedia Accounts are Accountants In Nottingham who utilise technology to help run their accountancy practice like clockwork.

Yes, that’s right, the group that benefits the most from you having great systems and automation is the clients! Not because you can reduce their fee, don’t do this! But because you are less likely to make mistakes, less likely to waste their time on something that should be systemised, and it means you can spend your extra time serving them on things they really value rather than things that should be automated.

In order to test this theory think about buying a car from a second hand car dealership. If you went to a small family business you would get great customer service from someone who is probably the owner. He/she would make you feel welcome, talk to you about your day, and you would get served very well. Arnold Clark on the other hand will present you with a big bearded man who treats you questionably. Though all this is true, I personally would buy a car from Arnold Clark, simply because the time it takes them to give me 4 cars to test drive and then choose my perfect car is 5 times less than the family business! They have great systems. I recently bough one from Arnold Clark and I asked the sales man how much paper work he would have to do after a gave him my debit card, he said “5 minutes, it was 2 hours at my last job”.

It seems hard to increase efficiency, but there are some tried and tested ways of doing it.

1. Technology

a. Invoice collection software

This is a no-brainer now, you should be using Receipt Bank, Hubdoc, or something similar. You are actually under-serving clients if you aren’t. Have you ever tried to scan invoices to someone, it is annoying! Giving clients the ability to simply take a picture of an invoice or forward it on as they get them is beautiful.

Use the “invoice fetch” feature in Receipt Bank, it saves clients logging in to websites that don’t email them invoices.

b. Xero/Quickbooks

Again it goes without saying that you should have nearly all clients on cloud accounting software. If you don’t then make it a project and simply get it done.

c. Other software

You should have software automation in Proposals, Practice Management Software, and Project Management e.g. Trello.

2. Automation

There are a number of ways of increasing automation in your practice. We recommend using the app called Zapier. It works by connecting all your existing apps so that you can ensure the entire workflow is connected through all the apps. For example, getting a new lead through your website adds this to your CRM (customer relationship management software) automatically, and then this sends an email automatically to the potential client letting them know that you are here, care about them and you could even send a video so there is a face behind the company.

Talk to other firms to find out how they are automating Payroll software, to the Practice Manager, to Expenses (e.g. Expensify and Tripcatcher), to Cash flow forecasting (e.g. fluidity or fathom), to payments (e.g. GoCardless).

An Accountant is quickly becoming the central board of Advise for clients, including technology and automation. Introducing these into your own firm means that you have the authority to do the same in your client’s businesses. Don’t be afraid to make this move, the more you automate the more future-proof your practice will be.

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guide https://www.emblix.org/blog/how-to-increase-efficiency-in-an-accountancy-practice-through-technology/ https://www.emblix.org/blog/how-to-increase-efficiency-in-an-accountancy-practice-through-technology/ Editor Thu, 17 Sep 2020 09:55:53 -0400
Investments That Will Make Your Life 100x Easier When You Are a New Parent

So, you’re pregnant… congratulations!

No doubt the news filled you with immense joy and excitement, which was then followed shortly by an equal dose of fear, uncertainty and terror.

When you’ve asked your friends for advice and tips, chances are that they’ll have told you the same thing: ‘nothing can prepare you’. Wow, helpful!

While it’s certainly true that nothing can prepare you (sorry!), it’s also true that there are lots of handy tips, tools, and products that can make life at least a little bit easier. Okay, a LOT easier.

Here are some investments that every new parent should look into:

Amazon Prime:

Amazon Prime is a life-line for new parents. The main feature of Prime is that it offers next-day delivery along with free delivery. This in turn means that you can have anything you need within 24 hours. And that’s game changing.

Have you run out of nappies? Amazon Prime. Need a bib? Amazon Prime. Bed broken? Amazon Prime!

What you may not realize is that many times you will be too busy to leave the house. At all. For days. As such, you either order-in, or you don’t get the thing you need!

And as a great added bonus, Amazon Prime also gives you access to Amazon Movies, which means you’ll be able to bring up a bunch of great programs to keep your toddler subdued while you do other things.

Hands-Free Kit for your cell phone:

A hands-free kit is another incredibly useful tool for parents. Because not only will you be stuck in the house or your apartment a lot of the time, but you’ll also be unable to use your hands a lot of the time.

That means you won’t be able to speak with friends or with your electrician. Unless you have a hands-free kit that is! In which case, you’ll be able to much more easily stay in touch with others without having to put baby down.

Co-Sleeper:

A co-sleeper is a cot that has one removable or collapsible side. The idea is that this will allow you to push it next to your bed, so that your baby is lying with you and you can put your arm around them should you so wish. However, they also aren’t actually in your bed, meaning you can’t roll on top of them!

This may or may not suit your parenting style as some parents prefer not to sleep with their children. But if you’re happy to sleep in the same room, then a co-sleeper can reduce stress and give you fewer disturbed nights!

Baby Monitor:

Okay, so this isn’t exactly news – you likely know you need a baby monitor! But the question is, “What kind?” If you get a baby monitor with a camera, it can work wonders when it comes to putting your mind at rest.

Some parents feel it is invading the baby’s privacy, but again this comes down to parenting styles. You can even get monitors that log heart-rate, though this can lead to some scary moments if the device ever malfunctions!

Another feature that is very useful is to have soothing sounds and music. Many parents say these can work wonders when it comes to helping their children get to sleep – as can VOIP so that you can speak to your baby and soothe them from afar. Consider your options!

Front Carrier:

A front pouch for your baby makes a lot of sense when they are still very young. A newly-born child should be kept as close to the mother as possible a lot of the time – almost as though they were still in the womb.

A front carrier helps them to feel calmer and happier. It also allows you to free up your hands and actually get things done!

Conclusions:

Some of these items may seem expensive, but they are well worth their cost many times over and are very good investments. Sometimes they may save the day for you, and other times they might just bring peace of mind. How do you put a cost on that?

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guide https://www.emblix.org/blog/investments-that-will-make-your-life-100x-easier-when-you-are-a-new-parent/ https://www.emblix.org/blog/investments-that-will-make-your-life-100x-easier-when-you-are-a-new-parent/ Editor Wed, 29 Jul 2020 05:02:32 -0400
How to Eliminate Money Arguments in Your Marriage

Marital arguments about money have been going on since the invention of money. While all arguments can take their toll, disagreements over finances can be particularly distressing. Studies show that money issues are among the leading causes of divorce! This is a worthwhile subject to get under control. Not only will your finances improve, but your marriage will strengthen, too.

These steps can keep money arguments to a minimum:

1. Agree on a budget

Many couples don’t have a budget, but a budget is useful for everyone, even billionaires. If you can both agree on a spending plan, many potential arguments can be avoided. After all, if someone is outspending the budget, it’s difficult to argue about fault.

It’s practically impossible to get a budget right on the first attempt. Good budgets evolve over a few months. It will take some tinkering to get it right. Be patient and make the necessary adjustments as you go along.

Use the information you already have. Pull out old bills and use some real numbers. Remember to consider expenses that occur less frequently than once a month. New tires, home repairs, and medical expenses are just a few ideas.

2. Be completely open

Many couples are exactly sure how much money their spouse is making. Many more spouses are in the dark about their partner’s debt and credit history. It’s not always easy, but a full financial disclosure can prevent many disagreements.

Knowing each other’s financial status will make it easier to agree on a financial plan.

This includes being honest about all spending. More than a few women hide clothing and shoe purchases from their spouse in the back of the closet. More than a few men buy tools on a regular basis and sneak them into the garage. Be honest.

3. Set financial goals together

If you’re both working toward the same things, it will bring you closer together. Partnership and marriage go hand in hand. Sharing a vision is an effective way of limiting arguments.

Sit down together and dream big about the future. Then decide how that looks financially. What plans will you have to make? How will you accomplish them? Set a deadline and get busy.

4. Deal with discrepancies in pay

In most cases, one spouse has a greater salary than the other. Splitting the bills 50:50 might be fair in one context, but it can also create resentment. One option is to pay the bills relative to the salaries. So, if one person is making $100k, and the other is making $50k, the bills would be split 2/3 and 1/3.

5. Deal with discrepancies in expenses and debt

If one spouse has child support payments to make or a large amount of student loan debt, the other might want to consider making adjustments for this when dealing with the bills. Partners help each other out. If you want to share in the windfalls, it’s only fair to share with the less agreeable things, too.

6. Handle disagreements in a healthy manner

Disagreements will occur, no matter how good the intentions. It’s important to keep the discussion centered on behaviors and not people. Disagreements can be handled in a healthy manner, which might be a good thing for your health! There’s a difference between, “This purchase wasn’t within our budget” and “You ruined our budget.”

When a disagreement occurs, find a solution that will prevent a reoccurrence.

Conclusion:

Minimizing money-related arguments is a great way to strengthen a marriage. It’s also a great way to get your finances under control. Many of the steps involved will encourage healthy finances. Protect your marriage and do what’s necessary to eliminate money arguments.

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guide https://www.emblix.org/blog/how-to-eliminate-money-arguments-in-your-marriage/ https://www.emblix.org/blog/how-to-eliminate-money-arguments-in-your-marriage/ Editor Tue, 28 Jul 2020 09:12:24 -0400
9 Steps to Removing Credit Report Errors

Checking your credit reports on an annual basis can be a great idea. A study done by the Federal Trade Commission found that 25% of all consumers have an error on their credit report that negatively impacts their credit score. There’s a good chance that your reports have one or more errors.

The study also showed that 80% of those that challenge items on their credit report are able to get at least some of the negative information altered or removed. That’s great news!

Follow this process to get these errors corrected:

1. Get copies of your credit report from the three major bureaus.

You can get a free copy of each report each year from AnnualCreditReport.com. If you’ve recently been rejected for credit, you’re also entitled to a free copy of the report containing the derogatory information.

2. Get your official credit scores.

It would be a shame to do all this work and not know how much of an effect your efforts had on the metric that matters the most.

3. Find and record all the errors that are harming your credit score.

Some people decide to simply challenge all the negative information, whether it’s accurate or not.

4. Write a dispute.

Your dispute can be very simple. Provide enough information that the credit bureau can identify you and the item you’re disputing. In general, it’s most effective to declare that you were never late or that the account isn’t yours.

5. Mail your disputes and request a return receipt.

The credit bureau is on the clock from the time they receive your complaint. If they can’t complete their investigation within 30 days, they basically have to make the changes you requested. Include only one dispute per letter.

The credit bureaus would love for you to file your dispute online. It saves them money and helps to automate the process. Receiving your letter is much more cumbersome for them. So send your complaints via snail-mail.

6. Watch the calendar.

Their response should be postmarked within 30 days of receiving your letters.

7. Evaluate the responses you receive back.

It’s likely that some of your disputes will be found in your favor. It’s also likely that some will not. One credit bureau has been known to simply give you what you want without investigating at all!

8. Continue disputing all the negative items.

At the end of the day, the credit bureaus exist to make money. They make money by selling credit reports, not by dealing with consumers. Your disputes cost them money. With a little diligence, you’re likely to get your way, so be persistent.

Consumers have historically done well when suing the credit bureaus. It’s difficult for them to truly verify the information in your credit reports. If you’re not satisfied with the results, consider filing a claim in small claims court. Credit bureaus get fined $1,000 per infraction. You’ll likely settle out of court and get your credit report cleaned up.

9. Stay organized.

Maintain records of all your correspondence. Make copies and keep those copies filed in an organized manner. Be sure to keep track of dates.

Conclusion:

Fixing the errors on your credit reports is simple, but it does take time. It’s important to check your reports every year. The cost of credit reporting errors can be staggering, as they can dramatically increase your interest rates on any loans you receive.

Request your credit reports today and spend the time to examine them carefully. Consider making it a part of your annual financial housekeeping.

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guide https://www.emblix.org/blog/9-steps-to-removing-credit-report-errors/ https://www.emblix.org/blog/9-steps-to-removing-credit-report-errors/ Editor Wed, 22 Jul 2020 04:45:25 -0400
7 Important Financial Actions for Widows and Widowers

The loss of a spouse is challenging emotionally and financially. Death is an uncomfortable subject and few of us have prepared sufficiently to deal with the aftermath. However, if you find yourself in this situation, there are steps you can take to minimize the negative financial aspects.

When a spouse passes away, women are often in a more challenging situation than men are. On the average, women earn less, save less, and start investing much later in life.

Consider these steps after the loss of a spouse:

1. Acquire multiple copies of the death certificate.

You’ll find that you can’t have too many copies. It’s necessary to send a copy to the Social Security Administration, credit card companies, insurance companies, and many other financial institutions. The death certificate is necessary to verify your spouse’s death.

A death certificate is also necessary to change or remove names from accounts. This can also include changing beneficiaries.

Fifteen copies should be sufficient.

2. Contact the necessary professionals first.

Ideally, you’ll speak with a tax accountant and an estate-planning attorney before taking any significant action. These experts are knowledgeable on the financial ramifications of your situation. Before receiving an insurance payout or taking any other major financial step, speak with an expert.

Avoid taking the advice of well-meaning friends and family. Unless you know someone that works in an applicable field, their advice isn’t likely to be your best course of action.

3. Update your will.

It’s likely that your spouse was the primary beneficiary of your will. Updating your will is necessary for other reasons. In most states, your will becomes invalid when your spouse dies. This means the state will determine how your assets are distributed until a new will is created.

4. Contact the social security administration.

You are probably eligible for a death benefit and a survivor’s benefit. This can be a huge help with funeral expenses.

5. Ensure that you’re paying your bills on time.

It’s common during times of grief and stress to ignore day-to-day activities. Remember to take care of yourself and pay your bills on time. The additional stress of late fees and phone calls from creditors is the last thing you want or need.

6. Collect all insurance policies and contact the companies.

This includes life insurance, automobile insurance, any insurance provided by your spouse’s employer, mortgage insurance, and any other insurance.

In some cases, you’ll receive a benefit. In others, you may receive a refund when you cancel a policy that has become unnecessary. There are instances where you may keep a policy, but wish to change the beneficiaries.

7. Contact the Department of Veteran’s Affairs if your spouse was in the military.

There are funds available for funeral expenses. It’s also possible to receive monthly payments if your spouse was receiving disability benefits.

Conclusion:

These are just a few of the necessary steps to secure your finances if your spouse passes away. It’s very important to work with the appropriate financial experts.

Most importantly, speak with your spouse before this circumstance occurs. Discuss how these financial issues will be handled and get your papers in order. Take the initiative to get organized beforehand.

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guide https://www.emblix.org/blog/7-important-financial-actions-for-widows-and-widowers/ https://www.emblix.org/blog/7-important-financial-actions-for-widows-and-widowers/ Editor Mon, 29 Jun 2020 04:53:52 -0400
COVID-19 Personal Finances Effects in Canada Could Be Harsh Despite Government Help

Effects of COVID-19 on Canadians' personal finances could be severe. But now might be opportune to make tough decisions to reset crucial lifestyle choices that led to massive debt build-up since the Great Recession.

The federal government stepped up and is providing relief to workers and businesses to cushion the impact of job and income losses. Banks are deferring loans and mortgage payments. And some landlords deferred rent. These positive moves will help many people and businesses, but Canadians' starting financial situation is fragile.

COVID-19 Could Push Folks to Bankruptcy

In January 2019, almost half of Canadians surveyed said they were $200 away from bankruptcy. Besides, 45 per cent of those surveyed said they would need to go deeper into debt to pay their living and family expenses. And in a recent survey, more than one million Canadians said they were on the verge of bankruptcy.

Canadians are among the most indebted people in the developed world. The compound annual growth rate (CAGR) of household debt to disposable income (after tax income) ratio prior to the Great Recession (2007) to quarter three 2019 was 2% - rising from $1.45 to $1.77 debt to $1.00 income. For every one dollar of after tax income, the average household owed $1.45 and $1.77. Meanwhile, Americans reduced average household debt over the same period, from $1.38 to $1.02 debt to $1.00 income.

The CAGR of average Canadian household spending between 2009 and 2017, the latest figures available from Statistics Canada, was 2.1%. Housing and transportation's CAGR was 3% each during that time. In both periods, housing, taxes, transportation, and food accounted for 64% of total spending. Heath care expenses remained at 3% going from $2,000 to $2,500 over the same period.

Per capita household income rose by a CAGR of 2.5% between 2007 and 2016, about the same as inflation.

The debt service ratio, debt as a percentage of disposable income, is more realistic to assess the probability of debt repayment. American's ratio fell from 13% in 2007 to 10% at the end of 2019. Canadians' ratio in 2019 remained at 2007 record high level of 14.9%.

Conclusion

I pray you find these guides helpful to navigate today's unprecedented situation:

  1. Prepare a budget for the next three to six months. Understand that a budget is not a constraining tool, but a freeing device. It's your best estimate of likely expenses in a future period to meet particular goals. You control it. It must never control you. If you are married, you and your spouse need to be on the same page to benefit.
  2. Remember, deferred loan repayments will be due in a few months, so include repayments in your budget and try to set aside those funds.
  3. If workable, pay down your high cost consumer debts.
  4. If you have an emergency or capital fund, do not use it unless you apply the affordability index.
  5. Don't be afraid to seek help from your church or trusted advisers.
Listen to genuine experts, stay home if viable and practice physical distancing. Jesus' blood covers His followers, but He gave us common sense to make wise choices. Meanwhile, let us continue to follow the golden rule and do to others what we would like them do to us.

I am grateful to those on the front lines keeping us safe. Now that we know who are essential in our society, I pray we will respect and compensate them well, now and when we get past this stage.

Stay safe!

Michel A. Bell is author of six books including Business Simplified, speaker, adjunct professor of business administration at Briercrest College and seminary, and founder and president of Managing God's Money, a mission devoted to providing free Christian financial and biblical stewardship advice. For information, visit https://managinggodsmoney.com.

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guide https://www.emblix.org/blog/covid-19-personal-finances-effects-in-canada-could-be-harsh-despite-government-help/ https://www.emblix.org/blog/covid-19-personal-finances-effects-in-canada-could-be-harsh-despite-government-help/ Editor Mon, 29 Jun 2020 04:42:06 -0400
6 Tips For Success As A Trader

If you are new to options trading, you are on the right page. In this article, we are going to share with you 6 tips that will help you be successful as a trader. With these tips on your mind, you can avoid common mistakes and follow the right strategies in order to get closer to your success. Without further ado, let's check out those simple tips.

1. Don't invest too much

If you want to be successful as a trader, you don't want to put all your money at risk. One day you will retire and you will need plenty of money to lead a good life. Therefore, you may want to invest your money conservatively.

Although you can use the money you have saved for a day trade from time to time, always try to be on the safe side. In other words, you should not spend the money that you cannot afford to lose.

2. Be patient

Another sign of a successful trader is that they don't trade on a daily basis. So, what you need to do is grab the opportunities that can meet your criteria. it is not a good idea to grab every opportunity that you can find. You don't want to go against your own judgment just because there is an opportunity available. You must have a solid plan in place and always be patient.

3. Be disciplined

You must have a solid trading plan in place, and you should do nothing against it. If you are trading yourself, you don't want to adopt impulsive behavior. You don't want to be greedy as it can cost you a lot of money. If you think you can get rich in a single day, you are making a grave mistake. You must always be disciplined.

4. Don't be afraid to grab an opportunity

Often, new traders tend to be overwhelmed in the beginning. They are too afraid to grab the opportunities that show up in their way. But you don't need to worry as long as you are disciplined and have a solid plan to follow. So, you don't need to be afraid of pushing the button. If you are patient and disciplined, you will surely achieve the success you desire.

5. Don't take a lot of risk

As I said earlier, it's not a good idea to invest too much capital in a single trade. This will not only put you at greater risk, but it will also cause you to miss out on a lot of opportunities down the road. Therefore, you should only spend 10% of the amount of money you have set aside for trading. This will help you be on the safe side.

6. Learn from Experience

Traders suffer from losses on a daily basis due to their grave mistakes. So, what you need to do is learn from others, and follow a rule-based strategy. Apart from this, you should always try to be yourself and never try to cross the line.

Long story short, if you want to be successful as an options trader, we suggest that you follow these steps. This will help you be on the safe side and avoid the common mistakes that can make you suffer a loss during this journey.

If you are looking for the best options trading system, we suggest that give a go to OptionsGeek today. They offer great services.

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guide https://www.emblix.org/blog/6-tips-for-success-as-a-trader/ https://www.emblix.org/blog/6-tips-for-success-as-a-trader/ Editor Tue, 16 Jun 2020 04:38:53 -0400
What Are Bounce Trader and Intraday Traders And Their Strategies

Among the substantial reasons that Forex currency trading has such a broad appeal is that the existence of various trading styles and approaches which may be implemented. Those traders searching for quick moves can accommodate scalping strategies. Most Forex traders put trades that have moderate-size intraday durations that permit the currency pair to undergo an assortment. Currency trading may also contain the objective of trading for earnings. This objective is featured in taking trades and can be a dominant approach of vital hedge funds and associations. But make trades will also be feasible for the ordinary retail trader.

The start trader must research a number of these strategies and styles by making trading setups that use a blend of technical indicators and chart patterns to pinpoint requirements for trade.

As we could see, there's no single style of gambling, nor anybody specialized index or methodology, that'll be adequate. Successful trading of currency is a combo of essential expertise, technological strategies, and expertise in pattern recognition. When there are many avenues to success as soon as you opt for a specific style, you will find setups that have proven effective for every procedure. Let us discuss each individual with a few examples of the application. The purchase price of those styles doesn't reflect any defect. Each of the features is valid to be used in currency trading.

Bounce Trader

The rebound trader waits for costs to input into ranges. The price may be coming with an uptrend or a downtrend. However, there are very likely to be emptied along the road. The bounce trader will Pick a way to trade and wait for the collapse of this cost to penetrate support or resistance. The price may close above resistance or support but then move to drop back again.

A trader is on the lookout for a 15+ pip transfer variant. These indexes are lined up and offer high assurance that the installation for your trade is fair. The setup aligned itself to many bounces from the top and underside deals. Significant to notice in the structure is that the convergence of the top channel line using the large Bollinger ring. The scope is roughly 40 pips. This usually means the trade must save slippage and trade-off at the bottom or top.

Intraday Trader

Even the intraday trader has much more patience and wishes to go to get a more substantial movement compared to the frequent aim of 15 pips. It requires investing off more extended periods like the 30-minute along with 4-hour graphs. Even the intraday trader is searching for a broader range of 60 pips or longer to find a trade, somewhat close to resistance or support. This trade demands a"sniper" mind-set to await the right design.

Click Here to learn how to make money online trading foreign currencies.

By the way, do you want to learn more about Trading Styles and Strategies? If so, go to my website and obtain my FREE guide: https://www.makemoneyonlinehappy.com

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guide https://www.emblix.org/blog/what-are-bounce-trader-and-intraday-traders-and-their-strategies/ https://www.emblix.org/blog/what-are-bounce-trader-and-intraday-traders-and-their-strategies/ Editor Thu, 11 Jun 2020 04:43:12 -0400
The Ugly Truth About Investment Loyalty I've been a Manchester City fan since 1970. I chose to support them as all my friends were either Leeds United or Manchester United fans, and Manchester City were an attractive footballing alternative who were having a bit of success at the time, winning the league and the FA Cup in consecutive years. However, just as I formed my allegiance to them their success dried up and apart from a couple of cup runs they remained relatively unsuccessful until 2011. You know what it's like though - once you've made your choice of team it's incumbent upon you to stick with them through thick and thin. After all that's what supporting a football team is all about; you make your choice, and for better or worse you remain loyal to them whatever happens.

Just imagine though if I'd been prepared to switch my support between different teams over the years based on their performance, rather than simply sticking with Manchester City? Had I for example, switched to a blend of Liverpool and Leeds Utd in the 70's, Liverpool and Everton or Arsenal in the 80's and Manchester Utd and Arsenal in the 90's and noughties before reverting to Manchester City, I would have enjoyed way more success as a result. Between them they were either first or second in the league every year throughout that period, winning numerous cups long the way too.

And it would have been quite possible to chose those clubs based on their results, coupled with a bit of football nouse. Indeed, the pundits have only failed to predict all the top teams in a couple of the last 40 plus years, most recently when Leicester surprised everyone by winning the league in 2016. In virtually all other seasons the top three or four teams have been easily identifiable by those with the experience and expertise to pick them out.

Now, being a football supporter is an entirely emotive decision, which is why we tend to stay loyal to one particular club. So why do many of us behave like football fans when it comes to choosing Fund Managers to look after our investments? That shouldn't be an emotive decision at all, yet far too often we hold off moving our money when results are not going the way they should and there are better alternatives available.

Now, I do understand that everyone can go through a bit of a lean period, and sometimes it is better to give your incumbent the benefit of the doubt for a time. Clearly that is not always the case, as the recent fall from grace of the one time darling of the investment world, Neil Woodford, is a timely reminder.

So when it comes to your money surely the key is to make evidence backed, emotion free informed decisions about switching, and on a regular basis? Of course, not all of us have the time or the expertise to do this which is why many of us chose an adviser to do it for us.

Choosing an adviser wisely is clearly important, as they will of course charge for this service, but it is not all about the cost; it's about value for money. Look for an adviser with a dedicated investment department, with full time, daily focus on the investment performance of their panel funds. Get them to give you testimonials from satisfied customers along with the number and scoring of verified reviews they've had from clients, and ask them about their recent investment performance. They should also be prepared to back up their claims about investment success with hard facts which clearly demonstrate they are indeed followers of the latest winners and not blindly loyal, or just plain lazy.

And choosing winners works whether you're a fan of active or passive funds, so this sort of support can work whatever your investment philosophy. Check out the following link for more information https://www.ellisbates.com/individuals/investments/

Of course, being a Manchester City fan is now much more enjoyable than it was 30 years ago, but one thing I have learnt in the past 50 years is that I can't and won't take their recent success for granted and I know it won't last for ever. I am enjoying it whilst it does though!

Ellis Bates Financial Advisers are independent financial advisers with offices across the United Kingdom. They specialise in active investment management of over £1 billion of assets on behalf of clients, who have given them a 4.9/5.00 score with Trustist.

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guide https://www.emblix.org/blog/the-ugly-truth-about-investment-loyalty/ https://www.emblix.org/blog/the-ugly-truth-about-investment-loyalty/ Editor Sun, 17 May 2020 04:39:37 -0400
5 Steps To Improve Your Credit

Whether, you are focused on, becoming, as prepared as possible, to purchase a home, of your own, or, you are concerned about any aspect, of maximizing your personal credit, in a personally, beneficial way, it's important and essential, as well as wise, to pay keen attention, to credit - related issues, and to take, every possible step, to maximize your comfort zone, and proceed throughout life, in a far less stressful way! Having been involved in finance, and financial planning for decades, as well as a Real Estate Licensed Salesperson, in the State of New York, for approximately 15 years, I believe, most people, might benefit from, knowing, understanding, using, and taking advantage of these 5 steps, to improve your credit - worthiness. With that in mind, this article will attempt to, briefly, consider, examine, review, and discuss, why this is an important consideration, for each of us.

1. Obtain a copy of your Credit Report: You are entitled to, once - per - year, receive a copy of your Credit Report, from one of the 3 major bureaus. Look at more, than merely, the rating number, but, also examine and consider, the factors and considerations, involved! Review this document, carefully, and inspect for any errors, etc.

2. Correct errors: Proactively, proceed, and correct all errors! You can do so, by yourself, or use, one of the major companies, which specialize in addressing and correcting these!

3. Pay down your debts: Begin, paying - down, your debts and obligations. Prioritizing, paying off, those with the highest interest rates, first, and, you will reduce your monthly obligations, easing your financial life, while enhancing your personal credit! Lending institutions, etc, weigh your existing debt, when making decisions, about granting future loans, including mortgages, etc.

4. Avoid new debts: When paying off your existing bills, avoid making the mistake of acquiring any new debt! Avoid taking out new credit cards, because of any considerations. Many make the mistake of acquiring new ones, because a special rate, etc, is offered. Remember, the goal, must be, proceeding with a better, financial plan!

5. Check again, after about 6 months: Fixing this, takes time, effort, commitment, and personal discipline! It should be a step - by - step, process, and, if done properly, effectively, and thoroughly, you should begin to see improvements. After about 6 months, check again!

Make your life, easier, and more comfortable, by paying keen attention, to the best way, to improve your personal finances, etc! Will you commit to this process, and action plan?

Richard has owned businesses, been a COO, CEO, Director of Development, consultant, professionally run events, consulted to thousands, conducted personal development, and financial planning seminars, for 4 decades, and a RE Licensed Salesperson, for a decade+. Rich has written three books and thousands of articles. Website: http://PortWashingtonLongIslandHouses.com and LIKE the Facebook page for real estate: http://facebook.com/PortWashRE

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guide https://www.emblix.org/blog/5-steps-to-improve-your-credit/ https://www.emblix.org/blog/5-steps-to-improve-your-credit/ Editor Sat, 16 May 2020 04:40:14 -0400