Category: Business
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Benefits of NBFC Business Loans
Being a small-business owner, you have been putting your whole-hearted efforts to make your business venture a success. You have been working long hours, traveling for client meetings to different cities, staying away from home for days on stretch and also investing all your personal savings and assets to take your business to new heights. Now that you have put your business on the path to growth, it suddenly dawns on you that you have not been able to pay adequate attention to your financials. Now when there is a significant opportunity in front of you in the form of a brilliant idea, which will change the future course of your business, you find that you do not have necessary funds to put that into practice. You feel anguished and frustrated, but that is not going to serve any purpose. So rather than ruing your ill-luck, its better you start looking at other options that you must explore, to meet your financial requirements. One of the most obvious options is availing an Unsecured Small Business Loan. What is an Unsecured Small Business Loan? Business Loans that are available to small business owners for their desired purpose without any requirement of collateral are called Unsecured Small Business Loans. These loans are extended by all financial institutions in India, private sector as well as public sector. You are free to utilize the loan amount for any purpose you may deem suitable including the purchase of machinery, upgradation of infrastructure, renovation of office premises etc. There are two types of unsecured business loans in the market NBFC business loans and Bank business loans. The repayment of these loans is to be made in monthly EMIs. Advantages of Small Business Loans Small business loans offer a flexible source of funding for you to meet your urgent financial requirements. There are various advantages provided by small business loans such as: - No dilution in ownership : When you take a small business loan from a financial institution, you need not provide any collateral and are free to utilize the money in any way you want for your business purpose. The lender does not have anything to do with the way you have spent the money, as long as you repay your EMIs on time. This ensures that the ownership of business stays with you and is not diluted. This is a better option compared to other sources as venture capital or personal borrowing, where you must give up a part of your ownership of your business in lieu of money. Taxation Benefits : Small business loans are to be repaid in monthly installments, which comprise principal component and interest component. The interest that you pay on loan is allowed as an expense, and you can claim tax benefits against the same. This, in turn, reduces your tax burden, and the loan in effect costs less in practicality. No other source of funding offers this option. No Collateral required : If you do not have any collateral to be hypothecated with the financial institution, then unsecured business loans are your only option. This is an ideal situation for new businesses or start-ups who have a great idea but do not have any collateral to be mortgaged. If required by the lender, you can get a guarantor on board. Lower Interest Rates : Unsecured small business loans have a more moderate rate of interest as compared to various other sources of finance such as credit cards or private money lenders. Lower interest rates mean lower EMIs which translate into a lesser burden on your finances. In some cases, the government also offers subsidies on unsecured business loans to help small business owners have easy access to credit at lower interest rates. No stress on working capital : When you are able to avail an unsecured business loan, you get spare money at your disposal, which can help you in getting better deals from your suppliers and vendors. Moreover, this ensures that you need not withdraw money from your working capital and thus you can meet your daily expenses conveniently. Also, as the EMIs are to be paid on a monthly basis only, you do not have to put pressure on your cash cycle by withdrawing huge sums together. Flexibility in Repayment : some NBFC business loans come with the option for EMI holiday or flexible repayment options, where you only need to pay interest on the loan as your EMI for a specified period, in the beginning, this way your EMI payments, in the beginning, is reduced and you get time to manage your financial position. The principal amount for this mortarium period is adjusted over the remaining period of the loan. Unsecured small business loans offer a lot of benefits for you. But you must conduct proper research and analysis before you take a final decision regarding the loan. Read Also : Top 5 Types Of Startup Business Loans Major Financial Problems That Can Affect A New Business 7 Big Myths About Small Business Growth
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5 Reasons to Use Magento for Your Next Ecommerce Website
Magento is a hugely popular platform for creating online stores and e-commerce sites. There are many reasons for this popularity including being a fast scalable platform that is also responsive and mobile-friendly. While still being easy to optimize for SEO. If you need help, there is a large community of developers constantly working on improving the platform. There are also helpful agencies like Bing Digital Magento Agency. Along with, a variety of extensions, plugins, and add-ons to completely customize your store and user experience. 5 Reasons to Use Magento for Your Next Ecommerce Website: 1. Flexible and Scalable With Multiple Store Management : Magento has been created with an open modular architecture. It optimizes web pages for faster delivery and has accelerated server response times. It also has efficient backend operations and boosted database flexibility to handle traffic surges. What this means is Magento can grow with your business. When you first build your store, you can start with one module hosting a small number of products. As you add modules, you can grow your store into thousands of products. This allows unparalleled flexibility. You can also manage multiple stores through one convenient administrative panel. If your store takes off, and you get a lot of traffic the speed improvements will help keep your site up and running. 2. SEO Friendly : Site speed is an important SEO ranking factor. The improved performance of Magento will keep your site running fast and optimized for speed. This software is also helpful in optimizing page traffic, indexing, landing pages, and avoiding duplicate content issues. There are also some great Magento SEO plugins available such as SEO Suite Ultimate which helps with things like meta-tags and rich snippets. And advanced SEO Suite which helps with canonical URLs and things like pagination and indexing. 3. Large Community of Developers There is a large community of Magento developers. There are several very active Magento forums where people help each other and share ideas. Reddit also has a very active Magento community as do many programming websites. There is no shortage of Facebook groups. If you use Magento, you can be sure that there is an active group of developers working on the platform and available to help you if you need to hire someone. 4. Marketing and Shopping Cart Options : There are quite a few tools and plugins available to help with your marketing efforts. Whether you’re trying to create coupons, a multi-tier pricing system, or landing pages there is a Magento solution for you. There are also many shopping cart solutions that enable you to customize the purchasing process. 5. Mobile Friendly The growth of mobile is outpacing desktop use. You want your online store to be mobile-friendly. Fortunately, it’s easy to create a responsive website with Magento. There are many tools that will help make your website mobile-friendly. It’s also possible to have a mobile shopping platform that easily integrates into your existing web store. This platform is really an all-in-one solution for building e-commerce stores. Read Also : Best SEO Tools For Ranking The Website Would Your E-commerce Website Pass The Cybersecurity Test? Here Are 3 Things You Could Be Doing Wrong
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Balancing the Books with Outsourcing – Virtual Receptionists
In this modern age of ever-increasing use of electronic forms of communication, there is no wonder that many kinds of businesses are constantly looking for ways to keep up with their competition. Indeed, accountancy firms looking to improve the way they handle incoming calls to their offices will probably consider contacting a provider of virtual reception services. Of course, busy owners of an accounting company who need to ensure all their calls are answered in a professional and courteous manner at all times would be wise to search for websites providing insight into the benefits of virtual phone answering solutions. By looking at websites that tell you the benefits of hiring a virtual assistant, overworked accountants who wish to find a solution to their current issue regarding office reception service should be able to find out more about why using a virtual office assistant service is a good idea. Needless to say, accounting firms with aspirations of becoming a leader in their industry will need to make sure they are able to retain their clients by providing a phone call answering service with very high standards. Providers of professional virtual phone answering an email response services that are thinking of branching out into the accountancy sector will need to make sure they hire the right people for this kind of work. Skill Set : As there are suppliers of virtual office receptionists who have people from a variety of backgrounds in their employment, it should not be too difficult for an accounting firm to find a virtual office assistant with the right skill set for their organization. Indeed, by taking our time when looking for a telephone answering service for our accounting business, we should be able to avoid ending up with a virtual assistant that is not suitable for the tasks they are given. Of course, highly-qualified virtual office assistants with a background in bookkeeping or other accounting competencies will be able to deal with related enquires by existing or potential clients so much more competently than those with little or no experience in this field. Some of the tasks undertaken by a receptionist working in the accounting industry include: Managing all incoming invoices Inputting Accounts Payable data into the accounts system Making sure key bills are paid on time Answering telephone calls from clients and colleagues Managing email accounts for client communications Multiple Offices : Accountancy firms that have done exceptionally well since their inception may have got to the stage where they have offices in a number of places including different parts of the country where they are based. Australian accounting firms in Sydney who happen to have a number of offices in the CBD would be wise to get in touch with a provider of virtual assistant services in order to be able to provide a focal point for all their incoming calls. Indeed, by reducing the number of different telephone numbers we have for our business, we should be able to increase the control we have over our company practices. Bosses of an accounting company that have managed to secure the services of a professional virtual office assistant provider are bound to discover the benefits of such a smart business move. Moreover, busy accountants who do need to visit their various office locations throughout the city will appreciate having a virtual receptionist to handle all incoming calls whilst they navigate through congested traffic during peak hour times. Of course, accounting firms who are able to function much better by employing the services of a virtual secretary will be able to focus more on the other important aspects of their business. Read Also : 4 Reasons Your Home Business Needs A Virtual Receptionist An Introduction To Voice Over IP (VoIP)
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5 Must-Have Long-Term Goals for A Secure Future
Most of us would agree that it’s vital to set goals and make plans to achieve them. People do it all the time. For instance: Goal: ‘Lose 5kg’ Plan: ‘Eat less and exercise more’ But financial goals, which are the life-changing goals of all, are often put on the back burner. Retiring early, setting up a business, or building an investment portfolio worth millions can all seem a bit too hard. You should prepare long-term goals that can help you to achieve your objectives. However, it's not! With a bit of understanding and help, financial goals can be set, plans can be put into place, and the desired nest egg can be achieved. Here are a few long-term goals worth setting: 1. Having an Emergency Fund for The Rainy Days : Life can bring economic uncertainty to many, and even for the financially secure, life happens, in the form of domestic catastrophes, medical bills, and other unplanned expenses. Therefore, it’s vital to have an emergency fund that can offer peace of mind and financial relief in such untoward situations. As a general rule, it’s good to have an emergency fund that would cover three to six months of your living expenses. So, calculate and know how much you need and set aside a certain amount from your paycheck every month. Over the years, this fund will grow, which you can use in case of an unexpected event, or when you are in financial strain. 2. Ditching Debts and Dues for Good : Being in debt can be a stressful experience for anyone, and no matter what your circumstance is, if you have a loan, you are obligated to pay it back. Even if you have life-altering experiences like getting into an accident, losing your job, or increased expenses due to having a child. Hence, repaying the outstanding debt and clearing of all dues is important, especially to know where you stand with respect to money matters. A simple way to clear your debts is to develop a budget that tracks your income and expenses. This will help know whether you have money left over, called the surplus. The goal is to increase the surplus and use it to pay down your debt. 3. Building Your Retirement Fund : Although retirement may feel like a million years away, it doesn’t matter - now is the time to plan for your retirement. Investing and saving is a critical part of leading a financially independent life post-retirement. The good news is, investing even a small amount each month will pay off later in life. Along these lines, decide what you will need during your golden years - expenses like healthcare, household costs, and additional leisure expenses. Once you know your needs, find a suitable retirement plan which can cater to those. Put simply, save, invest, and ensure yourself as a fallback option for your future. 4. Funding Your Child’s Higher Education : Your child’s dreams can become a reality when you support him or her, emotionally and financially. Quality education should be on your and your child’s wish list. Setting up an investment plan that can help with the higher education of your child is a good idea. To do so, find a reliable child education plan that can help you create a substantial corpus for your child’s education and future needs. 5. Expanding Assets for Your Family : Other than making arrangements for expenses, it is essential to create a secure base of wealth for your loved ones so that you can support them and maintain the lifestyle you have now. Investment in unit-linked insurance plans (ULIPs)is a good way to achieve financial growth as well as protect your family’s future in your absence. ULIPs enable you to make significant returns with a relatively low investment every month, while also offering insurance protection to you. Other benefits of unit-linked insurance plans are: Flexibility to choose your fund option- equity, debt or balanced Encourages goal-based saving for child education, retirement etc. The top-up facility gives the flexibility to change your premium amount You can opt for riders like Critical Illness and Accidental Death benefit You get ULIP tax benefits under Section 80C and Section 80D It’s never too late to get started. Pick one or all the financial goals listed above and start setting yourself up for your secure future. Read Also : Getting Your Personal Finances In Order With A Proper Budget Strategy These Small Changes Will Change Your Finances For The Better
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What Do You Need To Change Car Rims?
If you’re a regular car user, changing your car rims is something that you might only do if they either get scratched by a pavement, or they get completely worn out. For car enthusiasts though, this is a completely different story. Car lovers are known to tweak certain things about their cars just to make things look, sound or even feel better. Most of them do it as a hobby and are even prepared to spend top dollar in their quest to alter or improve the condition of their cars. If you think that this is a hobby that you could easily take to, then one of the parts of your car that could be easier, to begin with, is your car rims. For those that are completely clueless about cars, a rim is the cylindrical outer edge of a wheel that supports and holds the tire to it. They are definitely among the most noticeable parts of a car. For any true car enthusiast, having a set of rims that complement the car’s aesthetic appeal is very important. You might choose to have them off-the-shelf or get customized diamond-cut alloys. In fact, you can opt to design and personalize your own from scratch thanks to modern-day technology. Wheels vary in size and style, and this can adversely affect the type of car rims. Bigger wheels are considered sportier and are ranked higher, but they also come with their fair share of cons. Be ready to experience a change in fuel consumption, steering performance, speedometer reading, and quick tire wear if this is what you’d like to go for. A good rim is one that fits well in the tire. As it rotates around the tire nods, the contact that occurs produces friction that helps the wheel turn. You don’t want to have a set that interferes with your wheel turns, so it is advisable to seek help from a rim professional before purchasing any set. This will ensure that you get the most worthy set for your car. When it comes to types of rims, the steel rims are more affordable and are usually covered by a hubcap to make them more appealing. They are also heavier than other rim materials. The aluminum rims are stylish and durable, while the carbon-fibered ones are newer, durable and light-weighted. This helps a lot in the conservation of fuel. Simple steps to guide you when replacing your car rims: Installing new rims isn’t hard, but it requires careful execution and the right set of tools to make sure it’s done correctly. Be sure to follow these simple steps to guide you when replacing your car rims at home. 1. Select and buy New Rims The whole rim replacement process begins by purchasing a new set. You can do this by visiting various local auto parts dealers in your area. You can also opt to check online from a well-known shop that offers stylish yet durable rims. You’ll also have to give a bit of thought into the color. Red rims tend to provide a more personalized look while chrome rims give your car a nice and noticeable shine. Black rims tend to be more popular within the younger generation as it gives the vehicle a darker curbside appeal. Don’t forget to check the weight of the rim as this affects your vehicle’s overall performance. Also, be sure to match your new rims to your current tires. The diameters of the new and old set should be equal. You’ll also need to check whether the bolt patterns and bore circle diameter are similar in order to perfectly fit. Collision might occur if the rims aren’t fitting. 2. Make sure the Vehicle is Stable. Ensure you have a flat and level spot to park. For automatic cars, be sure that the car is in the park and the emergency brake is secured. We don’t want the car to accidentally roll forward or backward. Instances where the vehicle rolls are very common. This is especially when you end up rushing the process without paying much attention. This often happens to people who are removing a wheel for the very first time. You can use a piece of wood, a rock, brick or any other firm item that is a few inches high to support the wheel. 3. Lift the car and Remove the Wheel You’ll need to start off by removing the hubcap using a screwdriver. Similar to changing a tire, look for notches or grooves under the car where you can safely place the car jack. Take the car jack and use it to slowly raise the wheel until a bit of the weight has been taken off the wheel. Slightly raising prevents the whole wheel from turning as you loosen up the nuts. Apply force while removing the lug nuts as they’re usually tightened up pretty good. Before you loosen the nuts all the way, pump the jack and completely lift the wheel off the ground, but do not overly suspend it in the air. Then, use a socket wrench to turn the nuts counterclockwise. Make sure not to lose the bolts as they will be used with the new rims. Remove the wheel and lay it flat on the ground. 4. Remove the Old Rim Let the air out of the tire because it’s harder to remove the rim with all of it still in there as it will require more effort and take more time. Insert a tire lever on various points of the wheel; be careful not to damage the tube. Once done, go ahead and pry the old rim off the tire. You can also apply oil around the edges of the rim to make it easier for it to pop out. Make sure to do it evenly so as to prevent the rim from bending. Cheaper rims tend to bend easily and this makes them unable to be re-used once damaged. 5. Attach the New Rim Be sure to remove any dust from the side tubes and tires by using a wire brush. This will provide a clean and even mounting surface. After attaching the new rim, re-inflate the tire by using an air compressor. Carefully place the tire back on the hub and align the rim with the car’s wheel bolts. You can use your hands to screw in the nuts before you pick up the torque wrench. It is important to note that each vehicle has different torque specifications that are set by the manufacturer. So before you purchase one, make sure you look for one that is compatible with your car. They are a bit pricey and if you want a quality wrench you might have to spend close to $100. The car jack is used to apply a specific force to a bolt and prevent over-tightening. They make sure the wheel nuts are neither too tight nor too loose. These torque wrenches come in four styles; dual beam, bending beam, digital beam, and the click style. For the clicker, you’ll hear a click sound from the wrench once the required torque is attained. After you’re done be sure to reset the wrench to zero. This will help keep it calibrated for longer, but in case you happen to damage it, you can get it repaired by taking it to your nearest auto dealer shop. 6. Carefully Lower the Car to the Ground After you’re sure that everything is well in place, slowly lower the car to the ground until the tires have taken back the vehicle’s weight. Afterward, proceed to gently remove the jack. Once done, attach the hubcap and repeat these steps on the rest of the wheels. When all the rims have been replaced, you’ll need to check the alignment of each wheel. You can do this through a test drive to be sure that the rims won’t pop off. Try and keep a low speed as you do so. In case the vehicle isn’t stable, you can go to your nearest shop and have a professional fix the issue. For all automobiles, the right set of rims is important. This is because they contribute towards whether your ride will be smooth or rough. Comfort and durability come first for many drivers. As you might have seen from the outlined steps, replacing an old rim isn’t necessarily difficult. Yes, it might take time, but the final result will be worth it. Be careful not to damage the rims or puncture your tires during the whole process as this will end up costing you, instead of saving your coins. If you still feel like you can’t manage the rim change on your own, remember, asking for help is always an option. Don’t hesitate to ask for assistance from people who are more familiar with such situations. It’s better to have it done well and ensure the durability of the car rims. Cars can say a lot about their owners. What does your car say about you? Read Also : Useful Tips About Mobile Car Detailing To Avoid Any Costly Maintenance And Repair Issues Washing Your Car: 7 Dos And Don’ts
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Why You Need Classic Car Insurance?
Do you have an old or classic car you would want to insure? When we mean old, we are not talking about 5 or ten years old cars; we are talking about cars made before 1998. If you have such type of car and plan to ensure them to keep their value, there are certain things you need to know. Find out whether your car qualify for classic car insurance Generally, normal car insurance doesn’t have provisions for insuring a classic car. If you need to insure your classic car, may have to take another car insurance policy. For an insurance company like American Insurance to consider you and your car for classic car insurance, there are certain criteria you need to meet. The car must not be your main vehicle. You must have another car you drive more frequently. You should also have a valid driver’s license and secured structure you store your vehicle. Obviously, the car should not be more than 25 years old. If your car is older than 20 years since it was manufactured, you are no longer dealing with a classic car but an antique one. How is the insurance amount determined? Again, your normal car insurance provides coverage up to the actual value of the car. But for classic car insurance, the insurance amount is determined by you and the company. This determination is based on the valuation of the car by research carried out by an underwriter, a professional appraisal, or a classic car valuation guide. What a typical classic car insurance policy covers As stated earlier, a classic car insurance policy differs from the traditional car insurance policy. Apart from providing cover for damage to the car, there are other benefits you can gain from a classic car insurance policy as outlined below. If your personal items are stolen or vandalized, you will be reimbursed If your car is due for the car show but breaks down, the company can offer to pay for your expenses Emergency travel expenses Lost key return Emergency lockout services Roadside assistance Emergency flatbed towing Some companies like American Insurance can cover all of the items listed above while some other classic car insurance companies may provide cover for some. When selecting the best classic car insurance package, it’s important to consider what their policy covers and what it doesn’t cover. That way, you will be able to determine whether the policy is right for you and your car. Difference between normal car insurance and classic car insurance There is obviously a significant difference between your normal insurance policy and a classic car insurance policy. Let’s find out some of those differences. Depreciation or appreciation Your normal car loses value as it gains mileage. But a classic car may appreciate in value, especially when it has been properly maintained. However, your antique car starts depreciating once it has been insured. Based on this reasoning, you are going to receive a lower amount of indemnity if your antique car is totaled (completely damaged) in an accident. Mileage restrictions In classic car insurance, there are certain restrictions placed on the number of times you drive your classic car. However, a normal car insurance policy doesn’t have any mileage restrictions. Lower premiums Classic car insurance premiums of insurance companies like American Insurance are significantly lower than normal car insurance premiums. Sometimes, they may even be lower by 45%, although this depends on other factors as well. Conclusion Owning a classic or antique car is certainly a great investment of your money and time. However, ensuring such a car shouldn’t be much of a hassle for you. There are policies you can take to effectively give protection to your classic car. The above information will be helpful to you when looking for the most ideal option when taking up a classic car insurance policy. Read Also : 7 Reasons Why Teenagers Pay Extra For Car Insurance Tips For Reducing Car Insurance Costs
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7 Reasons Why Teenagers Pay Extra For Car Insurance
Car insurance for teenagers is more expensive than experienced drivers. Teenagers, who are at a very young and vulnerable stage of life, often lack any formal driving experience. They learn the skills of driving in this age and polish it with practice. The motor vehicle associations understand the susceptibility of their age and therefore the cost of car insurance for teenagers is higher. In order to understand this concept in detail, we have laid down 7 reasons that “why teenagers pay extra for car insurance”: No Proven Track Record of Driving The insurance companies consider the driving history of the applicant before issuing insurance premiums. In the case of teenagers, there is no proven track record of driving. Since they are at the beginner’s stage of learning, there is no evidence to support their expertise on the road. The risk factor stays high in this case. In general, the people who have proven driving track record without any mention of traffic violations and accidents in their names can avail significant discounts on their car insurance policies. The insurance companies need some statistical proof to make a judgment about the driving skills of applicants- which is not possible in the case of teenagers. Therefore, they cannot assume whether the teenage driver is a safe or reckless driver. In order to cover their risk, they raise the cost of car insurance for teenagers to ensure some safety measures. However, at the age of 19, the insurance plan becomes affordable as you already have 1-2 years driving experience by this time. You can get car insurance here for 19 years olds. Lack of Experience It takes time in learning a skill and achieving expertise in it. Learning to drive certainly takes more time and effort as we face different situations every day on the road. The young drivers need to dedicate a lot of practice hours to polish their skills before they can take their own vehicle independently on the road. The amount of time spent behind the wheel is a considerable factor in enhancing the driving abilities of young drivers. In the case of teenagers, their lack of experience can put them to test while facing real-life driving situations. Their reaction time may be slower than an experienced driver which is much needed when you are in actual driving practice. It is often seen that the young drivers get into a panic very easily when they face unusual situations on the roads. There are research studies to support the fact that most of the accidents that involve youngsters are due to their delay in reaction to the situations that prevail. Emotional Distraction Young people often get stuck with emotional issues. Their vulnerable age often brings out the “rebellious” attitude which may result in anger, sadness, extreme happiness, excitement, overreaction, anxiety, etc. They have very less understanding of dealing with their own emotions which may cause serious troubles while driving. For example- despite many public advertisements, youngsters use their mobile phones while driving. The overconfidence can lead to the accident-prone situation very easily. Youngsters often pool their vehicles and go for diving expeditions. Mutual talking and discussions while driving can distract their attention from the road. It is also common for youngsters to appreciate unusual sights on the road and get diverted from their driving spree. Insurance companies take these facts into account and use substantial proofs to put forth their risk level before issuing car insurance to teenagers. Increased Tendency Towards Speed and Racing There is no denial of the fact that teenagers love formula races and speed games. When they sit behind the steering, they get tempted to race with the cars on their track. Sometimes they have their own bunch of friends racing while driving. The scientific studies have reported that teenagers are easily aggravated by smoking, drugs and alcoholic tendencies. Under the influence of these factors, they may be instigated to adopt risky behaviors while driving. The understanding of the risks and their implications can be attained only with age and experience. The insurance companies state that the lower rates of premiums for the experienced drivers are supported by the statistics that prove that they are less prone to accidents as compared to teenage drivers. The Risk of the Insurance Companies The teenage drivers are at a higher state of financial risks for the insurance companies. The higher the probability of being at risk of accidents raises the probability of higher expenditure of the insurance companies. Therefore, in an attempt to cover the risks associated with the young drivers, they raise the cost of the policy. The Statistical Proofs We have already discussed various factors that may cause teenagers to become riskier while driving. It should be mentioned that our studies are based on statistical findings from various reports. These reports emphasize the high probability of teenage drivers being involved in road accidents. The data has been collected by the years of research that bring the car insurance firms at a higher edge of risk. The Make and Model of the Vehicle We often get to hear that the teenagers are gifted their “favorite vehicle” on their birthday or any other occasions. Although this practice is popular in rich and affluent families, these days even the middle-class segment has roped into the trend. Thanks to the easy loaning facilities! However, parents often forget about the risk associated with allowing teenagers to drive new and expensive cars with high-speed parameters. The insurance companies charge more from their clients who want to purchase insurance of a premium car for their teenager ward. The reason is clearly stated- higher speed parameters of the vehicle are directly proportional to the high financial risk factor of insurance companies. Conclusion Teenagers pay extra for car insurance due to the high amount of risk associated with their age and the levels of maturity. There are facts to support the rash driving incidents leading to fatal accidents in many cases that involve teenagers. Therefore, the higher rates of insurance are just a precautionary measure by the insurance companies. They intend to ensure that the applicant, as well as the company, must be fully prepared to deal with the possible risky outcomes due to driving errors. Higher is the risk of the insurance company, higher is the cost of the premium. Read Also : Tips For Reducing Car Insurance Costs Tips To Lower Your Insurance Costs
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What are the types of debt that can be discharged in bankruptcy?
When it comes to unmanageable debts, it is common to think for a bankruptcy to avoid further issues. The law gives us the opportunity to discharge our debts through bankruptcy in order to recover our financial status. In this article, we are going to talk about the types of debt that can be discharged in bankruptcy. Some of the debts cannot be discharged, but they can be restructured to allow you to pay them easily. Others can be completely eliminated, which will give you the opportunity to keep most of your belongings, rather than selling them to pay off. How does it work? There are two main types of bankruptcy that can be found in Chapter 7 and 13. “Chapter 7 allows you to clean a great variety of debts in a short period of time, while the later Chapter is used to keep your assets in touch.” says Bankruptcy Lawyer Boca Raton With some cases, you’ll have to sell some of your property to pay off creditors. However, if you don’t own much property, you might be qualified as a “no asset” case, which would save you a lot of headaches. Debts that can be forgiven by Chapter 7 include the following: Personal loans Medical Bills Credit card debt Utility bills Repossession deficiency balances Auto accident claims Lease debts Student loans Attorney fees Civil court judgments. With Chapter 13, you can reorganize and consolidate your payments to prevent having any penalties. This way, you can pay most of your debt in a period of three to five years. Upon completion of the repayment plan, you will be discharged by most of the debts that remain. This Chapter is suitable for individuals who wish to keep their assets and those whose income is too high to classify for Chapter 7. To apply for Chapter 13, you must have a solid source of income and enough money left to add them towards your new payment plan. Debts cleaned by Chapter 13: Unsecured Debts Medical Bills Personal Loans Credit card debt utility bills lawsuit judgments income tax obligations The chances are that you’re going to repay some of the amounts through the repayment plan, but the remaining will be discharged. 1. Secured Debts : This chapter allows you to remove debts such as a second mortgage through lien stripping. This way, it will be marked as a non-priority unsecured debt It is important to check all of your debts whether they can be split up. For example, you can split your car loan into two parts - secured & unsecured. Obviously, the secured portion must be paid, while the other one will disappear after the repayment plan is completed. Debts discharged ONLY by chapter 13 Debts accumulated through a property settlement agreement in a divorce Retirement account loans Fines & Penalties owed to the government Condominium Fees Debts from previous bankruptcy that were denied for discharge Debts from malicious damage to a property What Bankruptcy can’t discharge Of course, you can’t discharge all debts using these two Chapters. By using the first one, you will still have to repay the debts after discharge. While using the second, the debts will remain after the repayment plan is completed. Furthermore, if you’d like to keep your personal belongings such as a house or a car, you can’t omit payments Non-dischargeable debts: Debts accumulated due to a personal injury caused by driving under the influence. Student loans Fines and penalties for violating laws Child & Family support Income tax debts within the past three years. If your creditor is against your request to discharge the following debts, they might be classified as non-dischargeable. Debts from willingly causing an injury to a person or property Debts owed due to a divorce settlement Debts due to fraudulent activity Credit purchases for luxury goods within the last two months. Bankruptcy will surely not solve your financial problems, but it will ease your situation, allowing you to make timely payments and recover quickly. Read Also : Debunking 7 Notorious Bankruptcy Myths Major Financial Problems That Can Affect A New Business What Are The Benefits Associated With Crowdfunding For Businesses?
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What Is Uninsured Motorist Coverage?
You may have wondered what your Uninsured Motorist Coverage actually entailed on your car insurance policy as a Tennessee driver. You may not have known, but insurance companies estimate that almost 15% of drivers are operating without insurance. If you are struck by an uninsured motorist, there is no way for you to recover money for damages, injuries, or pain and suffering that resulted from the accident. Therefore, many insurance companies — and a growing list of states — make Uninsured Motorist Coverage mandatory in their policies. This way, you are protected in the event that you are in an accident with an uninsured driver. What does my Uninsured Motorist Policy Cover? The specifics of your uninsured motorist policy will vary from company to company, but in the most general terms, you and your passengers are covered for bodily injury, property damage, lost wages, or pain and suffering. Additionally, the policy-holder will be covered in the event of a hit-and-run, where it is impossible to determine who the driver was, let alone if they were insured or not. Note that your uninsured motorist policy is not the same as an UNDERINSURED motorist policy, which will cover the difference between your injuries and the maximum of the other person’s policy. Bodily Injury Coverage If you or your passengers suffer personal injuries in an accident with an uninsured motorist, your policy will cover medical bills, lost wages, as well as pain and suffering. Without this policy, being struck by an uninsured motorist would shoulder each individual with the burden of a lack of coverage that was out of their control. Bodily and emotional suffering are often hard to quantify in a car accident, and therefore makes a personal injury lawyer indispensable to claim what is rightfully owed. If you or your passengers have suffered bodily or emotional injury as the result of a wreck with an uninsured motorist, it is suggested you consult with a personal injury lawyer in Knoxville, TN. Property Damage Coverage Property damage is easier to quantify than personal injury because it will reflect the values of repairs or replacements. Even though this is the case, there are still many nuances that you must navigate to ensure you get the proper reimbursement for your situation. Consulting with an attorney is the best way to ensure that your situation is fully rectified with your insurance company and that you or your passengers will feel fairly compensated for your accident with an uninsured driver. It was not your fault that the other driver was uninsured, and it should not be your financial burden. Am I required to have Uninsured Motorist Coverage in Tennessee? Yes, you are required to have an uninsured motorist clause on your insurance policy in Tennessee. Hopefully, you will never be required to use this coverage, but in the event that you must, you can rest easy knowing that you are properly covered even though the other driver was fully uninsured. A growing number of states legally require each insured driver to have this additional coverage, and Tennessee is one of these states. Read Also : Along For The Ride: Passenger Rights In-Vehicle Accidents There Is A Pothole Problem In America – How To Protect Your Car From Damage? Feature image source: theandrewagency.com
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HybridBlock: Why Binance Is Investing In Crypto-Fiat Trading
Binance is currently known as one of the largest cryptocurrency exchange firms in the world. Changpeng Zhao heads the company, and he recently unveiled that the company will be focusing on a shift to trade cryptocurrencies for fiat money. According to Zhao, this move would make it possible for investors to perform an increased number in trading volume, an increased number of participants in the market, higher liquidity, and more speculators. He said that it would also boost the trading industry, and more people will be drawn to the world of cryptocurrency which will bring positive effects to the industry. Changpeng Zhao’s idea was lauded by financial experts around the world, saying that his plans for the future of cryptocurrency exchange are one of the most plausible given the factors that affect the market today. Zhao has been a veteran in the financial industry, and he previously established several companies; one of them is Fusion Systems which was founded in 2005 and presently headquartered in Shanghai. It became his stepping stone to know more about trading and how the financial world works. As cryptocurrency started to develop and to draw in more investors, Zhao decided to learn more about this new mechanism in the financial industry. He chose to join Blockchain.info in 2013 to develop his skills in dealing with cryptocurrencies, and he successfully learned new tips and tricks on how to become successful by trading cryptocurrencies. He, later on, founded several other companies that relied on blockchain technology, and in 2017, he decided to establish Binance. Initially establishing the company’s headquarters in China, Changpeng Zhao decided to move it in Japan after the government started pressuring him. He later opened offices in Taiwan, while at the same time looking at how his company grew tremendously. In 2018, Zhao expressed his idea of moving his company to Malta after he received several warning letters from the government of Japan and Taiwan. They are telling him that his company is not registered, and there can be legal consequences if he did not abide by the country’s financial rules and regulations. Despite these warnings, Binance continues to grow, and in 2018, it managed to gain a market capitalization worth more than $1.3 billion. It is more successful than traditional banks, and Zhao stated that the future is bright for their company as he sees that cryptocurrency will further increase in value. Changpeng Zhao stated that after his company completed its transfer to Malta, he will enable their users to convert the digital tokens that they have in their wallets into various fiat currencies. He also added that Malta is one of the few countries on Earth that are supportive of cryptocurrency traders, just like him. He wanted to transfer his operations in Malta because he said that there would be fewer legal problems in the small European island state. The government of Malta is working hard to persuade cryptocurrency giants to transfer their operations to the tiny Mediterranean Island. Malta wants to become known as the Blockchain Island, and they are developing new legislation that would encourage cryptocurrency traders to transfer their operations. One of the most important advantages of the idea proposed by Zhao would be the generation of new cryptocurrency traders and the balance to the world economy that it would bring. If the participants in the market increased, it would signal a rise in the demand for more cryptocurrencies, and it would transform the whole industry into one that could easily surpass traditional companies that are not keeping up with technology. Zhao wants to change how the world looks at the global economy, and he stated that his idea could become a reality. According to Zhao, fiat money is one of the best materials to be traded for cryptocurrency because it has a designated value given by the government. He is optimistic about the effects of his decision on the future of trading, and he believes that more people will become aware of its advantages. He continues to inspire a lot of people because of his perseverance to create new mechanisms that would innovate the financial sector. The experts who are working with the largest financial companies are saying that Binance have really shaken up the competition in the industry, and they are hoping for more people like Changpeng Zhao to come out and increase the competition in the sector. Read more about Changpeng Zhao and Binance at the HybridBlock Blog. Read Also : Hiring A Blockchain Developer 5 Awesome Facts About CryptoCurrency What Should Be There In An ICO Whitepaper? Expert Take
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How to become a sub-broker?
To become a reputed and successful entrepreneur, it takes hard work. In India, the opportunities for launching new businesses are umpteen, but the competition is fierce. There is no magic mantra that can help one company find success within record time. It requires dedication, perseverance, and knowledge. Sub-brokers are entrepreneurs with immense potential for making a profit. They are not trading members of stock exchanges, but they can act on the behalf of one. They can also assist business owners and new investors to buy or sell securities through registered trade members. The opportunities of a sub-broker business are plenty. If you have a fair idea of the share market and its products, it is going to be a rewarding business for you. In fact, it is a rewarding profession for novices as well. Anyone with the aptitude for share trading and the will to learn about the share market should be able to master the necessary skills of a sub-broker. What are the necessary qualifications of a sub-broker? The qualifying criteria remain more or less constant across the country for sub-brokers. Here’s a list of the edibility requirement for joining the elites – The person should have a graduate degree. Any subject should do, but the aptitude for share trading is a must. The applicant should have passed their 10+2 examinations at the least. They should know about the financial markets of the country. They should either have the qualification that gives them the knowledge of it or previous experience that gives them the insight of the share markets. He or she should also be able to manage basic financial transactions. They should have the latest information on the economic, socioeconomic, political and environmental scenario in the country. That is because every change in the scenario impacts the share market. They should know how to operate computers. The applicant must also be able to learn specific trading and monitoring software necessary for the process. Nothing can replace good communication skill for sub-brokers. They should be able to convince and comfort their clients during and after investment. It is a highly competitive niche and reliable skills of communication can give you an edge over your competitors. They should be good at management. You must remember that every business is about great management. Nothing can take the place of management when it boils down to man, market, and money. The aspiring sub-broker should clear the basic NISM modules on mutual funds, equities, F&O, and commodities. These regulations ensure that all sub-broking work should follow the completion of these modules. How to find a stockbroker to work with? Next, it is time for the sub-broker to find a broker as a partner. It is the most crucial step towards setting up the sub-broking business and you need to keep a few things in mind before you go down this path – i. Pick a good broker Finding a good stockbroker does not mean looking for one with a lucrative office or higher profit share. The broker you should look for should be reputed in the market, should be trustworthy and active. Make a list of the priority values you want to see in your stockbroker. Consult with your friends, family and fellow sub-brokers during the selection process. Check the broker’s profile before you go into business with him or her. ii. You should be ready for the full-time commitment Being a sub-broker is not a part-time hobby. It is a business and a full-time commitment. You will almost never be off the clock. Even when you will be away from your desk, you will be receiving updates on your mobile phones. Staying connected 24/7/365 will ensure that you will always be ready when a big business opportunity knocks on your door. iii. You need to be more than the average sub-broker Clients expect a lot more than the usual assistance and dealing. It is a competitive market, and you need to cater to your clients’ needs for market advice, investment aide, and product selection. Every client now deals in multiple products like mutual funds, currency, equities, and securities. It has become the responsibility of the sub-broker to advise them on the selection of products to avail the best investment opportunity at the time. What are the finishing touches of becoming a fine sub-broker? Get your own client database Becoming a good sub-broker takes a lot of practice and time. It is important to have databases of people, who are likely to become your clients soon. It is possibly the only profession where cold calls are still valuable and useful. The first stage of the database may consist of your family, friends, ex-colleagues and social media contacts only, but you need to start working on that data. You will have to go through multiple rounds of meetings with your clients, explain the prospects, your business USP and their chances of making profits in the long run. Build your network Finding a reliable sub-broker is a challenge for many regular share market clients. You need to fill that gap and become the sub-broker they can trust. So, do not push sales from the first round of calling and meeting. Ask for references once you establish a relationship with the client. Attend networking meetings. They might be a tad bit cliché, but they are always effective in getting new leads for the new sub-broker. Yes, you should expect to find them the moment you step in. It will take some time for others to warm up to you and for you to notice the new opportunities in the market. Keep yourself updated Lastly, no great sub-broker can remain great without regular brush-up of their market knowledge. So, go ahead, install some of the best market update applications, follow rewarding share trading blogs and follow the news on the changes in the financial policies of the country that can affect the market. To offer your clients a little more than the next sub-broker is offering, stay updated with the international market news as well. The ups and downs of the global market always influence the prices in the Indian share market. Read Also : How To Choose The Best Broker For You How Real Estate Factors Into Business Decisions
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Retail Tips for Success Post Brexit
As the UK’s divorce from the EU grows closer there are still many questions that need to be answered. The impact of Brexit on companies who retail both domestically and overseas is still uncertain as politicians attempt to thrash out the finer details. Whilst some businesses are sitting tight, waiting to see what transpires, there are others who are trying to take a more proactive approach by looking for solutions and even advantages. And it is with this in mind that we offer some retail tips for success post Brexit. Consider the Customers: No matter what the outcomes of Brexit are, perhaps the most important thing for retailers to do is to consider their customers – let’s face it if customers walk away in their droves, then little else matters. Post Brexit customers will still be looking for value and they will still be looking for a great service. Maintaining this is paramount to the ongoing success of any retail operation, but what does it involve? There needs to be an equilibrium between the three involved parties; the supplier, the retailer and the customer. If price outstrips value, then the customer is likely to look elsewhere. Retailers may need to re-examine their relationship with suppliers should Brexit bring about cost increases. Focus on Retail Spaces: In order to meet the challenges that Brexit poses and to exploit the opportunities it brings, a new focus on retail spaces may be required. The high street is now notoriously difficult to navigate for retailers and so optimizing the return on investment is vital. Increased agility may be the answer and to achieve this the expertise of a real estate advisory service such as GVA Worldwide may be the most effective solution. If retailers are looking for a prime urban location, for example, the help of a team that has intimate knowledge of the environment could prove to be pivotal. This is particularly relevant if companies are looking for retail space in the EU. Employ First Class Logistics: It would be naive to think that e-commerce will not be a key feature of a post-Brexit retail world and that capitalizing on it will be a necessary factor for success. And as customers come to expect more and more, a first-class logistics service will be required – one that can operate just as well across borders as it can in the UK. Retail companies need to use logistic providers that can offer a fast, quality service to anywhere in the world and who are safe and reliable – world markets will become even more important in a post Brexit business climate. Protect Your Staff: Many companies who are based in the UK employ staff from the EU and protecting them will help ensure success after Brexit. Staff comes second only to customers when it comes to the retail business and making sure that they are safe and secure should be high on the agenda. Consulting immigration lawyers may be one way of protecting your staff and therefore your business. In the short term it is unlikely that there will be any great changes post-Brexit, but looking to the medium and long-term is what retail companies need to do for ongoing success. Read More: Top tips for making business purchases. Money Borrowers, A Profitable Business. Major financial problems that can affect new business.
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