After implementing these ideas, you should see profits rise over time, and that’s always a good thing.

Focus On Organization

Being organized is essential to operating a successful moving company. If you aren’t organized, it will be impossible to boost productivity and efficiency. Disorganization leads to chaos and loss of income. If you need a quote from a reliable and proven moving company, you can get a moving estimate here.

Being organized in the moving business has several benefits. First, you won’t waste time and money running around inefficiently between moving jobs.

For example, you should use mapping software to organize and time your moving schedule to ensure they are done in a way that decreases your fuel costs.

Always try to have moved in the same part of town on the same day. If you can do two or three small moves in a day, it’s important to have them in the same area if possible. This can really save you time and money!

Use Different Types Of Marketing

Many types of marketing can be effective for a moving company. First, make sure you have a well-designed, mobile-friendly website. Most people don’t use computers for Google searches these days.

Your website also should feature a simple call-to-action, such as a contact form on every page. Other effective marketing methods include writing blogs about moving tips and hints, and social media ad buys on Facebook, Instagram, and LinkedIn.

It’s also important to interact with customers and prospects on social media. So every time you do a move, post something about it on Facebook. Make sure you do a great job because people can leave reviews or complaints online.

If you have great reviews on social media, you will get more clients, so always focus on doing the best job with fantastic customer service.

Whatever advertising you use, it’s important to respond to leads right away. Many people need to move quickly. They will want a response within minutes or an hour, not a day or two.

Many small moving companies with a few employees often say they can’t follow up with leads as quickly as they want.  It may help your company to use an hourly remote administrative assistant to follow up with marketing leads and schedule new moves.

Don’t Try To Do Too Much

When you’re starting your business, it’s tempting to try to do every kind of move that comes your way. But it’s often better to focus on a moving niche until it’s mastered, then, add other specialty services.

The easiest and most affordable moves for a new company are in-town relocations. Relocation within the city is usually less than 50 miles roundtrip, so you can do more of these in a week than longer moves.

You also don’t need as much equipment or cash reserves for in-town moves. After you learn the ropes of running a moving company with local relocations, you can start doing intrastate or cross-country moves.

Optimize Every Job

Experienced movers understand that families often mean well, but they aren’t professional movers, and their estimates about how much stuff they have often aren’t accurate.

One way to get an idea of the size of a move is to have a sales consultant provide the customer with an in-home or virtual estimate of their belongings. This gives you an exact idea of how much equipment and staff will be required for that job and gives them an accurate pricing estimate.

When you know what the job needs, you won’t commit staff or vehicles to a job that isn’t needed. So, you can deploy those resources to other jobs, increasing your profits.

Train Your Employees

We all have probably run into grumpy movers from time to time. While moving heavy furniture is hard work, there’s never an excuse to be unfriendly to the customer.

It’s especially important with a moving company to train your movers to treat customers well. They should be friendly and always keep the customer’s needs in mind.

If you train your workers to always be polite and friendly to customers, you’ll have more fans raving about your service on social media.

Have Cash Reserves

Like many businesses, the moving industry is seasonal. For example, more families tend to move in summer than winter. When the cold weather comes, your business may slow down.

That’s why it’s important to have cash in savings to tide you over during lean months. It’s possible that December and January could be slow, but things will pick up in the spring.

Rent Out Part Of Your Business Space

After you get your moving business rolling, let’s say you lease an office and small warehouse, but you don’t use all of that space yet. So instead of it sitting empty, consider leasing the space out to another small company.

Many small companies only need a few offices or a fraction of a warehouse. And you can boost your profits when you lease your extra space if you toss in some freebies, such as Wi-Fi, a coffee machine, copiers, and printers.

Get an even bigger edge by renting your space to a company that complements your moving business. For example, perhaps you can sublet the extra office in the back to an interior designer or a relocation professional.

It can help you attract more business if your moving company is a one-stop-shop for a relocating family. The more you can do for them will help decrease their moving stress.

The moving industry is competitive, and companies that aren’t organized and optimized will lose business. But the tips outlined here will help your company make more money and get more jobs, so you’re poised for future growth.

Hopefully, you can use our profitability tips to grow your moving business into a countrywide moving juggernaut!

The post How To Make More Money With Your Moving Company  appeared first on Along the Boards.

A lot of people around the world constantly worry about money. The truth is that money is one of the major reasons why people lose sleep. Other reasons include work, relationships, and much more.

If you want to sleep better at night and work toward your personal definition of financial bliss, there are a couple of things you can follow.

So, how can a person achieve financial bliss in 5 years? Is it possible? The answer is yes.

Everything starts out with a plan. You also need to have a desire for something more in your life. Aside from that, you’ll require a bit of persistence and commitment along the way.

What Are Financial Goals?

For those who don’t know, financial goals are spending targets, investments, or savings you wish to achieve over a period. Typically, the stage of life you are in determines what kind of goals you want to achieve.

For instance, if you are still in college, it might be a simple short-term goal such as saving for a car or saving for custom LED lights (elstarled.com).

Meanwhile, an individual with a growing family will have a long-term goal of purchasing a house. Other well-known financial goals for this stage of life include saving for retirement and saving for the college education of their kid.

Completely Get Rid of Your Debt

One of the biggest benefits of this goal is that any person can do this. It does not matter what your wealth level or income is.

Furthermore, it is almost a requirement that you get rid of your debt if you want to get the most out of your finances.

A couple of people around the world debate about debt. Some people say it’s bad, while other people say it is good.

Well, you should keep in mind that all debt is bad debt at some point in your life. That is why you need to get rid of debt. This includes your home’s mortgage.

While the purpose of your debt might be noble at first, it can be a huge drag on your income as time passes by.

There are a lot of reasons why you should get rid of your debt. This includes:

• It will free your mind of the stress and worry that comes with it.
• It will make it easier for you to quit a job you do not like.
• It will get rid of the asterisk from your finances.
• It will leave you with more money for investing and savings.
• You will have complete control over your income.

Save an Emergency Fund

This should be one of your main priorities. The minimum standard for an emergency fund is 3 months of liquidity. It’s better to have 6 months or more.

This is a moderate amount to help you manage an unexpected expense. However, how much you save greatly varies on your expenses, income, whether or not you own a house, and much more.

Keep in mind that emergency funds are vital in a fragile job market. You can usually use emergency funds to pay your mortgage, hospital bills, surprise car repair, and a range of other unexpected problems.

Knowing DIY tips on how to save for an emergency fund can be extremely helpful.

Improve Your Income by Developing Skills

This does not mean you should go back to college for an extra degree. It may mean you should take on extra responsibility or training at your current job.

It may also mean finding a mentor that can offer feedback and tips. It may mean taking a class at the public library, networking in your profession, attending workshops and conferences, working a part-time job, and anything that can get you more knowledge and contacts.

Small steps can result in large payoffs down the line.

Start a Business

It can be difficult to start a business. However, it can be extremely fulfilling as well. Every person out there wants to be a boss.

If you start a business, you’ll have to create a business plan, prepare the capital, and stick to a monthly budget within your means.

Keep in mind that starting a business is meant to make more money, not spend your own.

Live on Less Than You Earn

A lot of people probably suggest this tip. However, it’s well worth repeating it here because it is one of the most important things you can do to achieve financial bliss.

If you live on less than you earn, you’ll always have a lot of money. It does not matter what you do. You should live on less than you earn.

If you do, you will have a lot of money for paying off debt, investments, and savings.

Stop Your Addiction

This might not be a financial goal. However, it’s an obstacle that will stand in the way of all your financial goals. It does not matter what they are.

Keep in mind that addiction to anything can be a parasite to your finances.

If you think that you might have an addiction to things, make it your financial goal to stop that addiction.

Your life will be a lot better if you end your addiction.

When you’re planning to get rid of your items, don’t forget to always bring hand sanitizer with you.

Conclusion

Reaching a point of financial bliss has nothing to do with magic or luck. It is just a matter of setting excellent financial goals and achieving them.

It does not matter if you do it slowly. The important thing is that you’ve got financial goals.

Once you establish these goals in your life and make them part of your habits, achieving financial bliss can be extremely easy. You won’t even notice that you’re doing it already.

The post How to Set Yourself Towards Financial Bliss – 2023 Guide appeared first on Along the Boards.

It is exciting news in the sense that you will receive more Euros for your Pounds at the current rates than what you could get a year ago. On the flip side, you will get fewer pounds when converted from Euros. That’s what caused the nightmare of football fans even worse, with them seemingly paying a fine for wanting to support their teams live! In situations like this, you realise how great it would have been if the UK were still an EU nation. As the reality is different, the focus should be on finding a solution to mitigate all these currency conversion fiascos. Opening a Euro Bank account with debit cards certainly offers a good one.

Euro bank account with debit cards

As popular perception may dictate, a euro bank account with debit cards is similar to any traditional bank account. It’s the banks that operate slightly differently. They primarily focus on the online experience, offer revolutionary services, and hold multiple currencies like pounds and euros in one account. In short, they are like any standard bank account, except that you can store Euros just like a native. Many traditional and challenger banks and some other Fintech financial institutions now offer UK citizens to have this account. Many of them also provide it with a debit card or two. With a euro bank account, you can hold, send, and receive money directly in Euros without converting them into Pounds. Likewise, you can pay, withdraw, and make online transactions in Euros just like a local with your linked debit cards, without spending a dime in fees.

Why should you have such accounts?

Even before Brexit, the UK customers and businesses used to pay and receive money in both Pounds and Euros. That was the nature of the economy anyways. So, what changed? Why should you have a Euro bank account now? Well, the reasons are plentiful. Due to Brexit, Great Britain is no longer a part of the European Central Bank. It means the banks in the UK are now foreign to them, leading to multiple steps of additional paperwork for financial transactions. It not only crepes up the processing times but also makes the process expensive. Inevitably, the banks and FX conversion organisations can’t help but charge a high mark-up for each conversion. The fee structure is pretty much shady as always, anyways. As a euro bank account will not need you to convert your Euros, in the first place, you can skip this entire procedure in one shot!

If you are a freelancer, shopper, small business owner, or even a globetrotting football fan, you can benefit greatly from having a euro bank account with debit cards. Aside from the savings in currency conversations, the debit card will allow you to withdraw money in the EU without paying any fees. You can do the same in the UK by choosing Pounds as your preferred currency. Digital payments are never an issue either, with some providers offering the chance to set up direct debits right in the app. A similarly convenient user experience applies to every time you want to send or receive money across the borders. Not to mention the features such as geo-blocking, personal budgeting, expenditure limits, etc., that you can expect to be available in the same app. So, whether you are travelling the world or need to manage your money globally, this may be the one-stop solution for your needs.

Be thoughtful while choosing your euro bank

With the Fintech entrepreneurs leading the charge for convenient banking experience, some traditional banks are now also following suits. It means more options for the consumers, with the chance of getting more competitive rates and advanced features. As sometimes quality comes at a price, it is probably best to put some thinking into choosing the bank to open your Euro account. Are they reliable? Do they have a clearly explained fee structure? How many currencies can you hold in one account? Is there a fee for using a euro debit card? What about the annual fees for the debit cards? How feature-rich and convenient are their online services? Do they provide live notification for every transaction? Asking all these one by one would lead you to the best provider for a euro bank account with debit cards. To get more information, please visit finecobank.co.uk. As there are also banks that merge trading accounts with a regular multi-currency account, make sure you look into that. You may even discover a Fintech treasure to solve all your worries related to managing finances.

Final words

Like most things in financial matters, your circumstances and personal goals are the things that will decide whether you need a euro bank account with or without debit cards. But it is always good to have convenient options at hand, significantly when it can also save you some money. As we head slowly and steadily toward a genuinely cosmopolitan world, at least in the webspace, having a multi-currency account can make a huge difference. There won’t be any hassle to shop from European retailers. You won’t have to put up with a similar financial loss that the football fans suffered, either.

The post Euro Bank Account With Debit Cards: Save Yourself Some Money And Efforts appeared first on Along the Boards.

Payday loans are easy to obtain by providing proof of identity, bank account information, and proof of income. Most borrowers can get cash in just minutes, and some lenders even offer them online. The problem comes when they become caught in a never-ending cycle of payday loans by continuously rolling them over by taking out new loans to cover the payment for the original one.

To use payday loans wisely and not become caught up in this financial nightmare, take these tips into account.

Save Payday Loans for Emergencies

Payday loans shouldn’t be used because you want the latest iPhone or anything else except for a true emergency, like a vehicle breakdown that leaves you without another way to get to work. It’s important to take the time to consider whether it’s an emergency necessity or a non-emergency to make the best choice, taking a payday loan out only when it’s truly needed.

Take Out the Loan for the Smallest Amount Possible

Many payday customers take out a loan for the maximum amount that’s offered. Some lenders may allow that loan to be paid back over multiple installments rather than just one, but that’s a huge financial risk. Borrow only the minimum amount you need for the emergency. While it may be tempting to borrow a little more just in case, it’s a quick way to get in over your head and end up in a financial mess.

Never Get Into the Cycle Of Continuous Payday Loans

If you don’t pay the loan off when it’s due, instead of taking another one out to cover it, the fees and interest will quickly add up to such an exorbitant amount there’s a good chance you won’t be able to pay it back. When the APR is calculated with all the fees incurred, the rates can be 500% or even more, something that can do a lot of damage to anyone’s budget, and ultimately their credit score too. It’s a must to pay the loan back as quickly as you can unless you relish getting yourself into a hole you can’t dig out of.

Budget For Emergencies

After paying off your payday loan, sit down and create a budget that will allow you to save for emergencies. After all, the interest and fees you just paid could have gone into an account that can prevent the need in the first place. If you truly don’t have anything left in your paycheck that allows you to save, consider taking a part-time job. It’s important to have at least a cushion in your bank account, and ideally, three months of income saved.

Benefits of Payday Loan

If you are wondering what are the advantages of taking the Payday loan, we prepared a list of some crucial ones in order to help you make the decision of conducting this procedure if you need to.

You have the opportunity to receive money immediately

No matter whether you are applying through an online service or in person, the necessary information and personal details are just the most important ones. As you see, there are two methods available for you if you decide to try with this Payday loan option and get an automatic transfer of money. Also, the forms you need to fulfill are very easy. After you finish with the applying procedure, you will get approval in a few minutes. Best of all, you can receive the money immediately, on the same day you presented the forms. Sometimes, if you are lucky, you will get money within the hour. All of this makes a payday loan the perfect opportunity to receive money very fast and use it for whatever you need.

The loan process is very convenient

One of the best advantages of the loan procedure is that you do not even have to book the appointment and wait for your meeting. That means, there is no need to contact your bank’s loan assistant or to provide some personal information. As we said in the previous paragraph, you have even an online option if you do not want to go in person to finish the procedure. Best of all, you do not have to follow traditional loan rules that dictate how you spend your money. That means if you get a mortgage to pay for a house, or, on the other hand, if you get a loan to buy a car – you are not obligated to use the money for that. In other words, you can use your money the way you want because payday loans now do not have strict and limited rules for their use. Even if you take a car loan, you can use it to pay your bills and debts, for some other payments, credits, or any other thing.

You are getting the assurance of Confidentiality

When it comes to a Payday loan, people are very skeptical because they are afraid of some potential fraud or scams.  More precisely, they are afraid to provide their personal information and details to a payday lender. They are often wondering whether this is a safe option which is a normal thing for all the procedures where money gets involved. We have good news for you. This is an absolutely safe method and you as well as your personal information will be protected and remain confidential.

You need to know that it is not legal that your lenders share your personal details with someone else and use them against your knowledge and without your approval. This counts even for marketing purposes. In short, you do not have to stress about this and be free to use this Payday loan option if you need to.

The post How to Use Payday Loans Wisely appeared first on Along the Boards.

As an investor, we know that time is significant. An ounce of a ticking second is a ton of delay to the growth of your company’s success. To save time, money, and effort, knowing what should be done consecutively is a necessity. On top of that, you should get more information and whatnots are highly suggested to avoid any possible delays.

In this segment, we will give you a heads up on how long an E2 visa application lasts so that you can manage your time very well.

The Process

Before you get approved for special access, you will face a long and tedious process. Here is the step-by-step process that you need to follow.

Startup your business – this special access is intended to grant business owners or skilled workers to enter the United States of America. If you don’t have one, then there will be no point in applying for this visa type.

Gather documents – make sure to gather all the requirements needed to avoid any delay in your application’s approval.

Send your documents – you can send your documents to a consulate or directly to the United States Citizenship and Immigration Services (USCIS).

Finalize documents – here, and all your documents will be screened to see if you lack anything.

Submit Application – Once you submit it to the consulate or the USCIS, you have to wait for their response. You can monitor it with your immigrant attorney.

Prepare for Interview – you can do this with the help of an immigrant attorney. Listen very well to what the legal adviser will say to speed up getting approval for your visa application.

Attend an interview and receive a decision – After the Interview, the visa officer will immediately inform you of the decision if you got approved or denied the visa application.

E2 Visa Validity Period

It is a general fact that an E2 Visa lasts for three to five years, depending on the country you will be getting. But how will you know how long it will be for your country? Here, we have searched the validity period for your country to spare you from a tedious search.

E2 visas are valid for sixty months and can be restored with two-year extensions as long as you keep the necessary qualifications. As it stands, there are no limits on the number of attachments you can take.

Commonly, there are two ways to apply for an expansion of standing. The first track is to a new visa admitted (one-year periods) each time you (treaty alien) reenter the U.S. Depending on your travel schedule, this may not be convenient or manageable. The following way is to file for a continuation of stay if you do not plan on traveling out of the U.S. before the termination of your visa.

E2 visa continuations are granted in supplements of 2 years. To apply for a continuation of stay, you must present:

• Form I-129, Petition for Non-immigrant Worker
• Form I-539, Application to Extend or Change Non-immigrant Status
• I-94 Form Copy Arrival/Departure document
• Original Copy  Form I-797, Notice of Action (if status was previously extended or approved)
• Copy of passport plus E2 visa
• Employer letter demonstrating why the extension is required
• Copies of individual and business tax returns (prior 60 months) plus salary tax returns

It’s important to point out that if you file the extension before your I-94 expires, you can still work for 240 days pending the ruling. If, on the other hand, you apply after the termination, you can stay only 40 days pending the verdict.

You’ll be required to stop operating and leave the U.S if you don’t obtain a response in those 40 days.

Conclusion

Securing access to a particular country for business purposes is crucial, especially for that business person who has a dire need to expand or invest in the United States of America. To smoothly enter and exit the premises of the country, you should follow all necessary steps needed.

In that sense, knowing how long you can stay in the United States of America can help you plan out your business strategies very well. Also, it can help you grow your business further in the timeline parallel to the length of stay granted along with the visa.

The post How Long Does an E2 Visa Last appeared first on Along the Boards.

That’s why you need to know what separation pay is and whether you’re entitled to it.

Separation Pay

Separation pay s commonly referred to as redundancy pay. It is a payment made to an employee when the job they do is no longer available. There are many reasons why a job may become extinct, these include a downturn in profits, an increase in automated processes, or even a company restructuring.

Whatever the reason, if the company tells you that your services will no longer be required and you haven’t done anything wrong, you’ll be entitled to separation pay.

This pay is on top of your final wage. Your wages will be calculated in the normal fashion, according to what hours you have worked or your salary. Separation pay is on top of this.

By law, you’re entitled to be paid the equivalent of one month’s pay for every year you’ve worked with the company. It should be noted that this is a minimum amount. You may be entitled to more, depending on your contract.

You should note that you are not eligible for separation pay if you have worked for a company for less than one year. In addition, employers with less than 15 employees do not have to offer a severance package.

It’s also possible that your separation pay will be forfeited if your employer offers a different position with the same terms of employment and you reject it.

Finally, if you’re older than 45 and have worked for your employer for at least two years, you’ll be entitled to an extra week’s worth of pay.

Don’t forget, you’re not entitled to separation pay if you quit, it’s only when the employer needs to let you go.

What To Do If Notified Of A Job Loss

The first step is to speak to dedicated employment lawyers Melbourne like jhel.com.au. They will assess your contract for you and confirm the separation pay you should be receiving.

They can also ensure that due process is followed, you need to be given notice and you must be entitled to attend interviews and other meetings during that period to help you locate a new job.

You should also evaluate the reasons why you are being terminated. A business cannot end your contract on the basis that restructuring has made your job obsolete, then employ someone else in a very similar role.

If you suspect that this is the case then the employment lawyers will help you assess the situation, gather the appropriate evidence, and deal with your employer for you. If they have terminated you unfairly you’ll be entitled to additional compensation.

The purpose of separation pay is to help you continue living and paying bills while you locate a new job. A company can only eliminate your job because the role is no longer needed. Any other reason could get the business in trouble and gain you a compensatory payment.

Providing the reason for terminating your contract is not disciplinary related, you are automatically entitled to separation pay. This should be paid, with a full breakdown of what is being paid, at the same time as your final wage.

Any employer that doesn’t follow the proper procedure will be in breach of contract, even if the termination is fair. Again, it’s worth discussing it all with an employment lawyer to ensure you are receiving everything you’re entitled to.

What To Do If You Think There Has Been Foul Play

It’s a fact of business that employees need to be laid off. Providing this is done for the right reasons and due process is followed, there is little an employee can do about it.

However, you should read your employee manual and familiarize yourself with the redundancy procedure. Your employer must follow this procedure, if they don’t they are in breach of contract and you can claim for unfair dismissal.

Equally, if an employer takes someone else on to do your role or a very similar role, they are likely to be in breach of contract. The simple truth is they have got rid of you to save money.

The most important part of this process is speaking to an employment lawyer who specializes in helping employees. They’ll be able to verify if everything is above board and what steps you should take next. It’s essential you get expert advice before querying any payment or offer.

It is possible to negotiate your final separation figure, the employer can agree to pay you more.

Moving On

When you’ve worked for a business for an extended period of time a redundancy, or separation payment, can seem like a large sum of money. You’ll usually get the entire sum within 7 days of your last working day. This figure will include your normal monthly wage, any holiday accrued, and other benefits according to your contract. The separation pay can be included in the same payment or done separately. However, it must be paid within the designated timescale, as per your contract.

At this point, the key is to calculate your monthly expenses and work out how long the money will last. You don’t know how long it will take you to find a new job. The time to splurge or invest your separation funds is after you’ve secured and started your new job.

You should also consider minimizing your expenses wherever possible, this will help your funds to go further.

Getting Help

Finally, you should be aware that being made redundant has a serious emotional impact. You need to talk to a family member, friend, or professional. This will prevent the feelings from being bottled up, potentially resulting in depression.

Getting help and support is not a sign of weakness, it’s about doing what’s best for you and your future.

The post How To Decide If You’re Entitled To Separation Pay appeared first on Along the Boards.

Finding financial security doesn’t just happen overnight, no matter what some Hollywood movies might wrongfully make you believe. In fact, achieving real financial security is a process that, for some, may take most of their lives. So, the sooner you start investing in building a comfortable financial plan for the future, the sooner you’ll achieve it.

Feeling financially secure means more than having just the right amount of money to pay for all your expenses monthly and live a decent life. Financial security also means knowing that in case of an emergency, you are prepared and know that you can achieve all your life goals without allowing money problems to stop you.

Ready to find out how to build financial security for the future? Keep reading below!

1. Start with getting better at budgeting

First things first, if you want to get better at managing your money, you need to have a clear idea of where your money goes every month. Plus, if you don’t know where you are now, financially speaking, it’s difficult to have a clear path to follow going forward.

So, the very first step in getting control over your finances is to start tracking your earning and spending. By doing so, you’ll learn your spending habits and find the areas that you need to improve.

How do you create a budget? Well, it’s not that difficult to create and stick to a budget these days, especially since there are plenty of apps for that.
Download a budgeting app and use it to track your financial situation. Add your monthly net income and then separate your expenses into categories such as debt, utility bills, food, clothes, education, etc. Most budgeting apps allow you to split your costs into such categories and determine a certain amount of money you want to pay for each category.

What’s more, most of these apps also offer the ability to sync your bank accounts, allowing you to collect income and consumer spending data right into the app.

Budgeting tip: Have you ever heard of the 50/30/20 budgeting rule? If not, let us tell you what it means: you spend 50% of your income on your needs (living expenses, utility bills, debt, etc.), 30% of your income on your wants (clothes, trips, gadgets), and 20% of your income for savings.

2. Optimize your expenses

Once you have a clear idea of what your monthly budget, income, and expenses look like, it’s time to work on those areas that need improvement.

Are you spending too much money on things that aren’t really that necessary? Or maybe you’re not saving enough? Figure out the exact mistakes you make in your spending habits and fix them so that you don’t waste money on things you could live without. These mistakes might be holding you back from achieving your long-term goal of finding financial stability.

3. Set financial goals

Like it or not, “I want to be rich” isn’t a good enough financial goal. We all want to be rich, but you need to be a bit more specific with what “rich” means to you. What’s more, you need to have a clear idea of what steps you have on the way before you can consider yourself rich. Without defining your financial goals, you won’t know what you want to achieve and what path to follow.

Defining your financial goal is the fun part of achieving financial stability. The work that follows is the difficult part of this process. Yet, this part is particularly important as it will keep you motivated to attain financial security.

So, what do you want to achieve with your finances? Want to pay off debt? Want to be able to afford to buy your own home? Or maybe you want to save a nice amount of money for your retirement? No matter what you want your finances to look like in the future, make sure you have a clear idea of the goals you want to accomplish.

4. View savings deposits as bills

Saving on a regular basis can be really challenging, especially when you’re already struggling with paycheck to paycheck living. However, saving is a major step in building a secure financial future for yourself.

Your savings account can be your safety net in case something happens, and you need a huge amount of money overnight. What’s more, your savings can also help you grab an opportunity when it arises because you’ll afford it. Say, for example, that you stumble upon a great property deal. If you have enough money in your savings account, you can grab that opportunity immediately.

So, taking saving money really seriously. So seriously that you see monthly savings deposits as bills that you must pay every month.

5. Plan for the unplanned

Another important step in building a secure financial future for you and your family is to plan for the unplanned. As the experts from SmarterLoans explain, “Unfortunately, unplanned things like injuries, accidents, or even death can happen to all of us. And the best way to make sure such events don’t make you go bankrupt is to be financially prepared for them.”

Did you know that, statistically, we’re all one serious injury apart from going bankrupt? Well, that’s true, and if you want to have a secure financial future, you need to be prepared if anything happens. How to be prepared? Get yourself an injury and disability insurance.

What’s more, if you have a spouse and kids, particularly if you are the only breadwinner in the house, you should also get life insurance to financially protect your family in case you die unexpectedly.

Plus, if you own a home, you should also get homeowner’s insurance to protect your asset in case of a fire or a natural disaster that may wreak your property.

6. Increase your net worth

As obvious as it may sound, it’s worth mentioning because even if you may just not realize it right now, you may be able to increase your net income. Earning more money is and will always be the quickest and most straightforward way to achieve financial security.

How do you increase your net worth? There are various ways from getting a side hustle to starting your own business from your hobby, asking for a promotion, or simply changing your job for a better paid one. Another way to increase your net worth is by selling your life insurance for a cash payout through wwwharborlifesettlements.com, which can help support your family and pay for living expenses.

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However, being disciplined when it comes to how these funds are deployed is key to make sure they end up serving the purpose they originally had.

If you are a business owner and you are not familiar with the term working capital, you can visit caminofinancial.com to learn why it is important and how the right financing can keep your business afloat and make it grow.

In this regard, establishing goals and monitoring the progress made toward them periodically is an important task that small business owners have to incorporate into their routine to make sure the business gets a return on the investments it makes.

In the following article, we will discuss how to set new goals for businesses who have already been granted a small business loan to assist business owners in keeping things on track.

Managing cash adequately is a key element for the success of a small biz

A recent survey from business mentoring network SCORE found that nearly 82% of the small businesses that fail in the United States do so as a result of poor cash management.

Cash management refers to the task of overseeing the business’ cash inflows and outflows to make sure there are enough resources to cover for essential expenditures and for any investments that are required for the business to advance.

What is the money for?

Small business loans can be used for a wide variety of purposes such as buying more inventory, expanding the physical premises of a store, or investing in fixed assets required by the operation.

SCORE’s findings, which came from a survey applied to 1,000 early-stage businesses in the United States, found that most small business owners used the funds to buy equipment, inventory, or to pay for marketing expenses.

Since equipment investments are not necessarily going to generate positive cash flows immediately, business owners must be prepared to cover the installment payments associated with the loan regardless of whether the business is generating money out of the investment already or not.

For that reason, the purpose of the loan remains the most important aspect to keep in mind when deciding if such a financing instrument is the right choice to grow the business at the moment.

The importance of establishing key milestones and deadlines

Whatever the purpose of the loan is, business owners must keep track of how these resources are deployed by those responsible to execute the projects to assure that the desired outcome will be achieved.

To accomplish this task, setting milestones and deadlines for the team in charge of overseeing the use of these funds is one way in which small business owners can keep track of their progress.

These milestones and deadlines should be both feasible and challenging at the same time, as this helps in establishing an equilibrium between advancing toward the goal promptly while leaving enough headroom for the team to care for the quality of the outcome as well.

Appointing the right leaders and responsible parties

If there is a team or a department in charge of deploying the funds from a small business loan, the manager should tell them that they will be accountable for how the money is used and how that contributes to achieving the company’s goals.

This helps in aligning the interest of both parties involved – the business owner and the leader of the project – while positive reinforcements and incentives can also be used to further encourage the team leader in using the funds wisely.

An example of this would be to grant a bonus to the team leader or to those involved in the project if certain milestones are achieved – i.e. a percentage of growth in sales, or a certain amount of money saved as a result of the project.

Monitoring progress periodically

Small business loans generate a borrowing cost for the firm and that is the main reason why managers should oversee how the funds coming from this source are deployed.

Certain tools can help in this endeavor, as is the case of cash flow projections and budgets, along with performance metrics depending on the business nature and the purpose of the loan itself.

For example, if a company has taken a small business loan to expand its salesforce the manager can establish sales quotas for the new team as a way to measure their productivity.

The success of this team should help generate the cash flow needed to cover the cost of borrowing the loan.

Adjust the course when needed

The benefit of progressively tracking how small business loans are used within the organization is the possibility of adjusting the course if the situation demands it.

It is way more cost-effective to change things at an early stage before any more funds are used than finding out things didn’t work out as expected way down the line.

Meeting directly with the responsible parties tasked to oversee how the funds are deployed and monitoring them through a set of unbiased indicators should help in quickly identifying any deviations from the forecasted outcome, which would allow the owner to jump in and make changes before it is too late.

Final word

Small business loans are financing instruments that can be used to grow and expand a firm’s operational capacity but the fact that they generate an additional expense for the business demands the attention of the owner/manager to make sure the money is used appropriately.

Setting milestones, deadlines, and appointing responsible parties are some of the recommendations that we have outlined above to make sure the money obtained from these loans is used as intended and in a way that ends up delivering the expected outcome.

Are small business loans a convenient way to finance your business needs now?

How would you make sure the funds obtained are deployed adequately?

If you are looking to grow your business, then a small business loan is a great opportunity to make it happen. If you’ve gotten this far without outer financing means that you have what it takes to run and administrate a small company. Now think of the possibilities you can grab if you access more capital. Find the best financing for your business and achieve those goals.

The post How to Set New Goals for Your Business After Receiving a Business Loan? appeared first on Along the Boards.

Will it take a long time to fix my credit score?

There are very few quick solutions to a low credit score. That’s because your credit history is built up over time and takes into account every payment that you make. It also factors in when those payments were due, so late bill payments will start to have a negative impact on your credit score. Those late payments will affect your credit score for years, but ignoring them will not make the problem go away. There are some faster ways to give your credit score a positive boost.

Registering to Vote

When you register to vote in the US, your credit score can get a very quick and natural positive boost. Ensure that all of the details on your voter registration form are correct (a mistake in your address will have the opposite effect). However, by registering to vote, you are declaring those facts to the US government, and that means your credit score will already be a more reliable reflection of you.

Checking for Errors

It’s easy to find out your credit score, and it’s something that you should do several times a year. That’s because it’s very easy for finance companies to make mistakes, and those mistakes could cost you your credit rating. If you’ve spent years building up a high credit score and an error undoes all of that hard work, you need to know about it. Always request an analysis of your credit score and go over it carefully to make sure that everything is correct.

Start Paying Your Bills on Time

It’s not a fast solution, but simply paying more attention to your bills can go a long way to improving your credit score. Of course, when money is tight, paying those bills on time can be very challenging. It used to be difficult to get a loan to pay off those bills if you already have a low credit score, but that’s all changing. Now, online loans are safer and more popular than ever, and you can apply on sites like Cashlady to get loans for bad credit score resolution. When you can pay your bills on time, your credit score will always start to show signs of improvement.

Check for Credit Links

Sometimes, your credit score is linked to someone else’s. That could be your husband, wife, or even a family member, but if they have a bad credit score, then you could have debt collectors knocking at your door when you think that your credit score is perfectly fine. Always make sure that you know who’s connected and linked to your credit score, and take the necessary steps to unlink them if they are harming your chances of getting a new credit card or business loan.

Manage your Money

Take your time to build it up slowly. It can take patience, but it’s very rewarding to see your credit rating go up every year. Even if money is very tight, you can always manage it more effectively and safely, and in ways that will not only boost your credit score but also allow you to start saving. Never underestimate the amazing feeling of having emergency money in the bank, especially as you watch your credit score grow. There are online tools and resources that will allow you to take more control of your budget, no matter how low that budget might be. This article by Lifehack highlights the best apps for money management. The more that you think about your spending, the more likely that you will be able to pay off what you owe.

Paying off Debts

You might have to take out a loan to do it, but paying off your existing debts is one of the best and fastest ways to improve your credit score. Look at all of your debts and if they seem overwhelming, consider looking at debt consolidation loans. These will allow you to bundle all of our debts into one, and although they at first make your credit score drop, they can quickly improve that score as long as you make your repayments on time. This type of debt process is very useful because it means all of your debts are in one place, so there’s less chance of forgetting to make a repayment.

Have some Debt

It might seem like the opposite of what you want, but having some debts might actually improve your credit score! That’s because credit history needs to see activity, and if you’ve never taken out a loan, then potential lenders will have less of an idea of how well you’ll pay one back. They will want to see evidence that you can pay back what you borrow and pay it back on time. So the fewer financial records you have, the lower your credit score can be. Start by taking out small loans to start building up your credit history, and your credit score will quickly grow.

You have plenty of options to consider if your current credit score is lower than you’d like. Look through and research all of those options, and fixing your credit score might be easier to achieve than you think. It can take time, but there’s nothing quite like the security of knowing that your credit score isn’t going to set off an alarm every time you walk into a bank.

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Thankfully, there are ways for you to tackle your financial problems and eliminate them entirely. It is important that you work on getting rid of balances as soon as possible so that you can experience financial freedom. Financial freedom enables you to put money away for other, more important things and prevents having to deal with creditors and loan sharks who are constantly hounding you down for what is due. If you are having a real problem with managing money, it is important to associate with a financial adviser who can help you out further.

Refinance

Refinancing simply means that you will work on each balance to extend its term length and get a better interest rate. One of the most problematic issues that many people face involves the high interest rates associated with the debts they have. You may be paying more in interest the longer that your balance is active, which simply gives more money to your creditors than you would like. Unfortunately, a lot of what you pay towards the balance is going to go towards interest rather than any leftover principal. This simply extends how much you spend over the course of the account’s life. If you have older student loans, refinancing them is a smart idea because you can get a lower interest rate with a company like Earnest, as well as an extended term. This brings down your payments each month so that they are a lot more affordable for you and your family.

Consolidate

Consolidation refers to lumping all of your balances onto one account. For example, you might currently have five credit card accounts out with a balance on every one of them. Paying all five bills each month has become confusing and you’ve missed a few because you either forgot or didn’t have the money. Now, you are saddled with late fees, high interest rates and a never-ending pile of bills that constantly come in the mail. Consolidation often involves taking out a personal loan or low-interest, high-balance credit card and lumping all of your debts onto just one simple payment. In doing so, you are making bill paying less confusing and you will find that it is actually cheaper for you to make one payment a month rather than four, five, six or more. In order to consolidate properly, you need to find an account, like a personal loan, that has a low rate and offers you the money necessary to pay off all of the other companies and lenders.

Create a Savings Account

Creating a savings account doesn’t necessarily help to pay off debts at first, but the account can help when it comes to preventing more from piling up. Emergencies happen and they often occur when we least expect them. Your car breaks down, your fridge stops working or your plumbing pipes burst randomly one morning. If you don’t have any cash in savings, you’re left having to pay for any and all of these things on your own. Unfortunately, this is when it’s likely that you’ll pay using a credit card, further putting you in debt. To prevent this from happening, you should work on building a savings account that can be used during emergency situations. Aim to save up at least $1,000, which provides you with a relatively large sum if you need quick access to cash. Automating your savings takes the guesswork out of doing this yourself, since you’ll be able to have money put into the account each week automatically.

Establish a Budget

One reason so many people are in so much debt is because they overspend. In fact, you might be overspending without even being aware of it. You might eat out a lot more than you cook at home, you belong to subscription and streaming services that aren’t necessarily needed or you spend a lot on the weekends when out with the family. All of these things can prevent you from saving up in the way that you want. Likewise, by spending too much each day, you’re less likely to have extra cash available to pay off existing debts. It is important that you establish a budget for yourself. Take your income to debt ratio into consideration and then decide how much you can or want to spend after paying all of your bills.

Work with Creditors

Creditors and collections agencies all have a bad name but in reality, they’re simply doing their jobs. These are normal, everyday people who are tasked with collecting money from individuals who owe larger companies and corporations. Likewise, these companies and corporations want to get paid, so they will sometimes settle for a smaller amount in terms of owed balance just because it guarantees some type of short-term reimbursement. If you’re struggling to pay your monthly bills and are finding that you’re consistently late and dealing with overwhelming fees, you need to speak with the collection’s agents. Tell them that you’re having a hard time and they will typically work with you to come up with a repayment solution that works both for you and for their company. You may find that they reduce debts, take away late fees or waiver entire balances in order to help you out. If you’re not getting anywhere, a financial adviser can help and will work with these creditors for you so that you don’t have to worry about doing all of the work on your own.

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