3 Tips for Creating a Realistic Business Budget

Are you developing a startup company and struggling with how to set up a budget that is realistic? Setting up a realistic budget and merchant account is absolutely imperative to running a successful, long-lasting business and should not be overlooked. Most importantly, you must learn how to adequately spend your new company’s money before you plan on generating money. Knowing what money needs to go where is a fundamental necessity. Drafting a simple budget plan and creating a merchant account with the help of an accountant will allow you to set up your company’s spending habits, the needs of the company, and predict potential issues as well as track your spending. Follow these simple steps to set up the foundation for a successful business.

A Budget Is a Necessity

Image via Flickr by 401(k) 2013

The first step to setting up a budget is to understand the importance of one. Where does the company need to spend money? How much money goes in each category? How much must you generate in order to pay the bills for your business? All items must be accounted for to prepare not only for budget growth but to stay on top of bills and expenses. Here are some great examples of what your business needs to budget for:

  • Total cost for your startup company.
  • How much it will cost to operate your company effectively.
  • Necessary labor, products, and resources.
  • Anticipated profits and expenses.

Utilize the Zero-Based Budgeting Approach

Zero-based budgeting is a great way to budget for the next fiscal year with regard to your business objectives. What are the goals of your business? This process involves budgeting in a way that all expenses are warranted and that you will start the next year from the “ground up.” Zero-based budgeting begins with asking yourself what your main objectives are for the business in the next year, such as increasing sales. If this is the case, you must adjust the budget based on the growth that you want to occur during the next fiscal year.

Cut Unnecessary Costs

If you are unsure if you can pay the next bill and your budget is out of balance, experts suggest that it may be time for your business to cut costs that are deemed unnecessary. It is not in the best interests of your business to add new expenses to the budget until the money spent and money earned are properly accounted for and balanced. Giving yourself room for potential pitfalls is a wonderful way to stay out of hot water.

Budgeting does not have to be overly difficult or scary. All you need to do is follow a few simple steps and you will be set to create a budget for your business. These essential steps will assist you in growing your company’s worth, ensure success, and avoid any potential money blunders in the future. With the help of an accountant to keep your budget on track, you will be well on your way to creating a wonderful business.



FHA Loans: What You Need to Know

First time homeowners would be foolish to think the journey ends when they sign their names on the dotted line. The next step, if they haven’t done so already, is get their investment insured against fires, water damage, and all matters that can be declared “acts of God.” The financial burden these place on the owners could sour their victory.

The Federal Housing Administration (FHA) is one organization started in 1934 to help low income individuals obtain a mortgage. FHA offers government-backed housing loans that protect lenders against default. This makes the loans act more as mortgage insurance.

Aside from having financial challenges, there are other factors that go into applying and gaining an FHA loan. The borrower’s employment history, for starters, must show they have worked for the same employer for the past two years. They must also have a valid Social Security, legal citizenship, and above the age of 18. And, that’s just the beginning.

Down Payment

The minimum down payment for an FHA loan is 3.5%. This percentage can be gifted from donor, retroactively making it zero down. This is an advantage when trying to purchase houses in Colorado Springs or another emerging market.

Borrowers can apply for rate and term refinances by getting a Loan-to-Value (LTV). LTVs are distributed according to certified appraisals that can cost the owner from $250 to $750. The property value from the appraisal will be divided against the loan value leaving you with an LTV percentage.

Insurance Premiums

An FHA loan is essentially a form of mortgage insurance. A borrower will have to pay a Mortgage Insurance Premium (MIP). There are two kinds of MIPs: upfront premium and annual premium.

The upfront MIP is 1.75% of the loan and paid upon application. An annual premium varies based on the loan term (15 to 30 years) and can range from .45-1.05%. Those with a 15 year mortgage may have to pay a higher interest rate while less than 15 may have lower rate. That number is also adjusted based on the amount of money borrowed.

Credit Score

Buyers with low credit scores can still get an FHA. If that credit score is within the range of 500-580, then the borrower must pay an upfront charge of 10%.

Low credit borrowers must also have no more than 1 late payment per year. An applicant must also have no bankruptcies, foreclosures, or tax liens within 3 years.

Limits & Loans          

All FHA loans, regardless of credit score, have a maximum borrowing ceiling of $729,750. And, that’s only an estimate based on the cost area and the number of units owned.

203k renovation loans are reserved for houses in need of major repairs to their plumbing or climate control. The payout is set according to the cost of repairs in a detailed LTV appraisal. A streamlined version is issued to properties that require cosmetic repairs to the interior (kitchens, bathrooms) and exterior (siding, roofing, decks and patios). The streamlined borrowing ceiling is $35,000.

Cash-out refinances are also available under FHA for any owner who has built up equity in their property.


How To Transition The Kids Back To A School Schedule

If you are like me then you are ready to get some of your time back.

Right now there is no mommy quiet time.

I miss sitting on the couch at 11 pm with a glass of wine after yelling lights out and playing my 888sports bonuses.

No more teenagers up until 2 am!

Unfortunately getting our children back to a schedule when they have been so rowdy all summer can be a handful.

Start Out Lightly

In other words, don’t let them know last minute that their schedule is changing.

Despite all of the training that we put into them they are still not the adults, we are.

We know there schedules better than they ever will and need to stay on top of them.

Slowly integrating a stricter schedule as school approaches will allow them to gradually get used to the time changes of when they need to get up and be in bed.

During the summer I am like most parents and do not strictly enforce a bedtime.

As the summer quickly reaches its end I start to enforce a fun and lenient bedtime slowly.

Changing the time closer each day to what there normal school scheduled bedtime will be.

At first, we get some grumbles but I just remind them that I have been nice in letting them stay up later and if they want to push their luck then we can start the new schedule in full force the next time I hear a complaint.

This quickly ends the discussion for at least that night.

Have Them Help You To Go School Shopping

For many of our children, they are overly concerned about how they are going to look when they return to school and see their friends.

Having them join you when shopping for clothes and supplies will help them to re-establish the mindset of being in school.

When you get home from shopping have them set up their outfits for the first week in there closet or model the outfits for the rest of the family.

Prepare There Backpacks

What will they be bringing with them?

How will they organize their backpack?

How will their binder be organized?

How will they decorate their book covers?

Have them take the wrappers off of there new school products and organize them.

Have them help you plan out there lunches for the week

Are they going to bringing a lunch or having a school lunch?

Schools provide a list of available lunch options and your children can decide what days they would like to bring a lunch or beg dad for lunch money.

If the family decides that the kids will be bringing a lunch allowing them to help decide, within reason, what will be in there lunch will get them excited for the new school year.

How Well Do You Know Your Broker?

Before you start trading, you must first get a reputable broker to carry out your trades for you. A broker is generally a person or a firm that controls your trading account. Besides controlling the account, a broker also quotes the current prices for you and sends all trades into the market. If you do not have a broker to do the trades for you, you would find it very difficult to carry out some tasks. One such firm that makes trading easy is Rakuten Brokers form Rakuten securities.

Brokers are divided into 3 main categories.

  • ECN (Electronic Communications Network) Brokers

ECN brokers use communication networks to match trading orders in order to give you the best prices in the market at that particular time. They are the eyes of what goes on both sides of the market. They will receive different prices from many institutions in the market and then compare them before giving you the best quotes.

An ECN broker makes his money through a commission added on the spread from a provider with the best quote. Let’s take an example. If the provider gives the broker 0.5pips on AUD/USD, the broker then adds his own spread of something like 0.4pips. This means that the trader dealing with an ECD broker will get a 0.7pips spread on AUD/USD. The 0.4pips is the commission the ECN broker earns. This is the only way they are supposed to make their commissions.

  • Market Marker Brokers

These are brokers that control the trading market all by themselves. What this means is they set their own bids and prices. You can even say they have the trading market on the palms of their hands. They will not bother to send any trades out in the market and will do as they please. They dictate how the market will go and basically without them, the trading market would be almost dead. Also referred to as the dealing desk brokers, they are a force to reckon with.

  • STP (Straight Through Processing) Brokers

These are a cross between Market Markers and ECN brokers. In most cases STP brokers display their own prices and quotes which reflect the quotes from the interbank. They will choose either to trade in- house like Market Markers or send the trades into the market like ECN brokers. They choose to send the more successful traders into the market and keep the losing one’s close by. Whichever way they choose to, they make profits.

When they send their trades into the market, the STP broker make their commission or spread without incurring any losses. Losing clients lose a large amount of their capital over time. The STP broker knows this and that is one of the reasons they keep the losers in-house. The brokers know that eventually, they will gain from the continued loses. They also make sure that they trade against the losing trades so they can continue making profits.

  • Is there a bad broker?

The STP may sound like a bad broker but in actual fact, the only bad broker is one that changes trades and conditions in the market to deliberately make a trader lose. Some unscrupulous brokers are known to make traders lose all or part of their capital. Every one of the categories listed above has its fair share of fraudsters.

  • Conclusion

To make sure that you are dealing with the right broker, make sure that they are regulated by the correct state governing bodies. Also carry out enough research to find out whether they are what they claim to be. This you can do by reading reviews about their firms and visiting their websites. Read and confirm about all the services they offer, check if they have a working and effective customer support system and that they have your best interest at heart.

Ask any questions about Rakuten brokers by vising the Rakuten securities website and learn the importance of knowing your broker well before you start trading.


Your Financial Horizons: Are ULIPs Risky Investments?

To provide a short answer to the question posed in the title, ulips can be risky investments if you want them to be (more on that soon). However, if you’re the type of person who prefers to take things with a little bit less variance, the policy can be adjusted accordingly. To shed some light on the issue, we’re going to reveal 4 most common types of investments, arranged in the appropriate categories of risk:

  1. High-risk, high-reward

Do you like to live your life on the edge, enjoying every bit of adrenaline rush you can experience? If this is the case, high-risk, high-reward type of ulips is bound to be a good fit for you and your needs. With this insurance, the investment goes toward stocks and equities that are of high risk. On the flipside, should things go well, these yield the highest rewards in general. All in all, this option is only suitable if you like to gamble a bit, and it’s certainly not for the faint of heart.

  1. Medium risk, low-medium reward

Compared to the investment plan listed above, this option is slightly less risky; however, some of the risk is still there. In concrete terms, the investment goes toward government securities, corporate bonds, fixed-income securities, etc. As can be expected, the reward you can expect is correlated to the amount of risk involved. So, if you don’t mind a little bit of a gamble and if you’re prepared to accept a reward of lesser value in return, this option is worth thinking about.

  1. Low risk, low reward

If you don’t have an appetite for risk, you don’t have to partake in risky activities. If this applies to you, consider low risk, low reward investments. Typically, these are cash and bank deposits, market funds, etc. If you choose to go in this direction, it’s worth pointing out that the principal amount is protected. All the while, the very same amount gradually keeps gaining appreciation. It goes without saying that if the risk is low, the reward cannot be any higher, as these things are always proportional to one another.

  1. Balanced

This option can also be described as medium risk, medium reward, and is sort of the middle ground variant you can try if none of the other alternatives seem appealing to you. Most of the people seem to choose this option because it’s stable and relatively predictable, while still giving a reward of reasonable value. This can be achieved by distributing the investment between multiple stocks and equities, thus dividing the risk. Also, some investments have a fixed interest, so you can count on getting at least something out of it.


As you can see, ulips can be risky investments if you want them to be. If you don’t want to have anything to do with variance and risk, there are low-risk options available, but obviously, the reward will be on the lower side as well. Since every person’s needs and circumstances are different, only you can be the judge which one of these options will be the right fit for you.

About AEGON Life

A joint venture between AEGON – world’s leading financial services and Bennett, Coleman & Company – India’s leading media house, AEGON Life Insurance launched its pan-India operations in July 2008. Armed with a vision to be the most recommended new age life insurance Company, AEGON Life adopts the power of global expertise by leveraging digital platforms to bring transparent solutions, and to prioritize customer needs. Our financial planning and investment solutions include term life insurance plans, pension plans, unit-linked insurance plans (ULIPs), health insurance plans, child education plans, and more.

Four Small Business Tweaks That Can Yield Big Rewards

Regardless of the size of the business, any manager wants to improve profitability and this can be possible without making expensive investments or overhauling your current system. Whether you run a small fashion boutique on a popular e-commerce selling platform like Shopify or own a major corporation with multiple branches around the world, managing a business comes with daunting challenges that will require you to think quickly and strategically.

Sometimes, making small adjustments to your present operations can yield big rewards. Pay attention to these four seemingly minor details in your business, and you may just make significant savings and boost profitability.

Promote Your Brand Online

Internet technology has ushered in an exciting new era where a significant portion of interactions between businesses and clients takes place online. This interaction can range from raising awareness via online ads to after-sales support through email exchange.

The bottom line is that a lot of people spend their time online. In fact, in 2015, it was reported that there are 3.2 billion internet users in the world, according to the International Telecommunication Union.

Business owners should tap into the significant potential of the internet. If you haven’t already, you need to set up social media pages for your business so it becomes easily accessible to your customers.

Online marketing is often more cost-effective than traditional marketing is, plus compared to traditional ads like print ads, online campaigns are easier to track and manage. Case in point, many email marketing platforms let you determine how many times your email promotions were opened and how many of those opened emails converted to clicks.

Conduct Regular Team-Building Activities

Businesses around the world are facing a serious employment-engagement crisis. According to a 2015 survey by Gallup, only 13 percent of employees report being engaged or enthusiastic and committed to the organization they work in.

Low employee engagement can have devastating effects on your business, like decreased productivity, job dissatisfaction, and high turnover. One solution to this is to have team-building programs in place. By conducting team-building activities, you can improve employee morale, establish rapport, and promote a culture of unity and teamwork.

If you have the time and manpower, you can have an in-house team assigned to create and implement various programs to promote employee engagement. On the other hand, you can also opt to hire an external human resource firm that offers team-building programs. Either way, the important thing is you identify what goals you want to achieve with the activity and come up with the most effective strategies to achieve them.

Invest in the Right People

Business magnate, best-selling author, and philanthropist Richard Branson wisely said, “Take care of your employees and your employees will take care of your business.” You will not be able to effectively take care of your workers if you do not hire the right people in the first place.

When you hire the right people, you are investing your hard-earned capital on a workforce that is willing to stay with you for the long term. On the other hand, if you cut corners and hire unqualified candidates, you may end up with an inefficient team or disloyal employees who have a high risk of leaving your company even if you haven’t maximized the training and resources you invested on them.

There are a number of ways to make sure that you get the right people. One is to fine-tune your hiring process by making job descriptions as specific as possible. Identify the tasks you need to get done, and match them up with the appropriate core skills.

Second, make sure you have screening procedures that will gauge an employee’s competence and qualification. Depending on the nature of the job, these can range from basic drug tests to complex psychological interviews.

Make Immediate Special Offers during Sales

Make cross-selling and upselling a language of your sales team. Upselling happens when customers are encouraged to purchase a product that is comparable to and more valuable than the one that they were previously interested in. An example would be a car salesman promoting a newer car model with more sophisticated features to a shopper showing interest in an older car.

Meanwhile, cross-selling involves promoting a product that will complement the item that the customer is planning to purchase, like offering phone cases and accessories to someone purchasing a new mobile phone.

These two sales strategies offer mutual benefits for you and the customer. The trick is to find a way to seamlessly integrate them into your current sales funnel. For instance, if you run an online store, you can implement this strategy by making special upsell or cross-sell offers before the checkout process.

For brick-and-mortar stores, staff should undergo comprehensive training not just to improve their knowledge of your different products and services but also their understanding of customer behavior and needs.

Photo URL: https://www.pexels.com/photo/two-person-shaking-each-others-hands-872957/


Escaping the Paycheck to Paycheck Cycle

Nobody wants to live paycheck to paycheck, yet so many people are struggling to make ends meet. It’s hard to escape the cycle of having just enough funds to get by and not enough to build your savings. While you might have enough to pay for rent this month, not having any savings can get you in a bad situation fast if something goes wrong.

Escaping the paycheck to paycheck cycle isn’t always easy, especially if you don’t know where to start. It’s impossible to save if you barely have enough money as it, so how do you break this habit. If you don’t make a change soon, you’re going to hit a wall and run out of money eventually. It’s not about stretching your paycheck just long enough to make your next payment. It’s about learning new financial habits that free you from this cycle altogether. This guide will discuss real steps to take today to break up with your bad money habits.

Image via Unsplash

Step 1: Create a Savings Plan

Before you do anything, create a savings plan. No matter how old or young you are, you need to save. In theory, you should have enough money in your savings to cover a few months of living expenses. This is a best-case scenario and isn’t realistic for your first big milestone. However, you should aim to save at least $500 in a separate savings account.

This money isn’t for your next vacation or the latest gaming system. It’s for emergencies. It’s in case you lose your job suddenly, your car breaks down, or something else unexpected happens. When an emergency occurs and you don’t have a savings account, you’re left using credit cards or loans to cover these costs which only digs you further into debt.

To keep yourself in check, set up automatic payments every time you get paid and allocate some funds into your savings account. It doesn’t have to be a lot at first, just start with what you can. If possible, don’t get a debit card for this account so you aren’t tempted to spend the money on other things. Saving is your ticket out of living paycheck to paycheck.

Step 2: Commit to Cash

Let’s face it: spending with cards is easy. It’s all too easy to swipe your credit card for lunch every day or drinks at the bar. It’s a lot harder to part with cash. When you’re relying on your credit cards and debit cards for spending, you’re disconnected from the process. You don’t realize just how much you’re spending until the money is already long gone.

Create a cash budget and stick to it. First, list out your bills every month. These are things you must pay like rent, transportation, utilities, etc. Then, only use cash for everything else. If you go out for lunch, pay cash. If you buy something new, pay only in cash. This forces you to really pay attention to how much money you’re parting from every month. Freeing yourself from cards also means you need to free yourself from payday loans. If you don’t have the money in cash, you don’t have the money at all.

Image via Unsplash

Step 3: Find Extra Income

If you’re unable to stretch your paycheck into your savings, you aren’t bringing in enough income. This isn’t an easy time to work your way up in the job market. It’s competitive out there, and it makes sense to struggle from time to time. That doesn’t mean you can’t bring in more sources of income on your own outside of your 9-5 job.

The gig market is in full swing in 2018, and there’s no excuse not to have a side hustle today. You can start your own business if you have the expertise to offer through freelancing or consulting. Starting this kind of freelance job is as easy as setting up your own website and prospecting clients.

If you don’t have the time to commit to freelancing, you still have options. Platforms like TaskRabbit let you complete tasks for others in your community for a rate. If you have a car, you can drive with Uber or deliver food with Postmates. You can make money in your free time if you’re willing to put in the extra work.

Step 4: Downsize Your Expenses

You should always try to live below means, especially if you’re struggling to make ends meet. While you don’t have to sacrifice everything in your life, you do need to cut costs when you can. Look carefully at what you pay for every month. Are you devoting 70% of your income towards rent? Consider downsizing to a smaller place once your lease ends or getting a roommate to split costs. Are you spending a ton on your phone bill? Look into pay-as-you-go plans to stop overspending.

Even learning to downsize for a few months to a year can be just what you need to get your money back on track. If you’re not sure where to begin, do a money reset. This means halting all unnecessary spending for at least a week to reevaluate your outgoing money. Eat through the rest of your kitchen before going shopping for groceries. Skip expensive weekend activities and look for free events in your city. You might realize it’s easier than you thought to cut costs.

Earn Your Life Back

Living paycheck to paycheck is hardly living at all. Not knowing if you’ll be able to make ends meet from one month to the next is exhausting. You owe it to yourself to get your finances back in order so you can start moving forward. Is living below your means so hard if it means you’ll have more financial freedom a year from now? Can you use cash for a few weeks to cut your spending? These small things make a big difference in your financial wellness, and your bank account will thank you.


4 Things to Know Before Ever Getting a Loan

Every single year, millions and millions of americans rely on loans to do everything from a buy home, to consolidate debt, to get cars and so much more. Loans are appealing for the fact that they can provide you with a lot of capital quickly, that you wouldn’t have had access to otherwise.

However, while they are helpful, loans are a large source of the over $13 trillion dollars that Americans have in household debt. As a result, you need to be smart when going for loans, as if you’re not, you could potentially find yourself in a lot of financial trouble. This article will go over four things you need to be aware of before getting a loan.

Ask a Lot of Questions and Do Your Research

Of course, the first thing to do is do your research. You need to know the ins and outs of the lending world and with so many options, you need to educate yourself about them, to decide which one works best for your situation. You need to be sure to read and ask lots of questions before you ever take a loan.

The last thing you want to do is enter into a multi-thousand dollar loan without knowing what to expect. Your research can consist of talking to friends, family and lenders, but the internet is also full of great resources to help you fully understand a loan before securing one.

Know How Much It Will Really Cost You

When you get a loan for $10,000, you need to be aware that you simply won’t repay the $10,000 and be free, in most cases. Over time, your loan will cost more and you need to be ready for that. Sure, the interest rate is a good indication of how much you will spend overall, but it isn’t the only thing to consider.

Many lenders will attach hidden fees or other costs to their loans, that you might not expect. If you do not account for these when getting a loan, the deal you get might not end up being as good as you thought it was. These can include an origination fee, a late payment fee, a prepayment penalty and more.

Know How Much You Need and How Much You Can Afford

Before ever meeting with a lender, you need to be sure to figure out what size of a loan you need. While it can be tempting to secure a loan that is larger than you need (especially if you can get a low interest rate), that will just end with you paying back more than you needed to in the long run.

In addition to that, you need to calculate how much of a payment you can afford each month. Budgeting effectively will help to figure this out. Once you are locked in a loan, you are locked in, so ensure you will be able to afford it throughout the lifetime of the loan.

Be Aware Of Your Credit Situation

Your credit will have a huge impact on not only how large of a loan you will be able to get, but also the interest rate you will be able to get. The higher your score, and cleaner your credit report is, the lower your interest rate will likely be.

So instead of applying for loans willy nilly, you should be sure to check your score and report to make sure everything is in good standing. It could save you a ton of money in the long run and checking your credit doesn’t take very long at all.

In conclusion, if you know all of things we covered in this article, you will be ready to go out there and secure a loan.


Secured or Unsecured: Do You Know Which Loan Type You can Quality for?

Personal loans may seem complicated, but they don’t really have to be. Generally, they fall into one of the two categories; either secured or unsecured. The main difference between them is that with secured loans, something you own is taken as security that protects the lender in a non-payment scenario. But what else is there to know about these two predominant types of loans?

Secured loans offer the least risk to lenders

Due to this, they are also easier to qualify for, even if you don’t exactly have a shining credit score. However, if you do decide to take one, you’re going to be asked to offer something of value that can be used as non-payment security. For example, a suitable asset you can offer is real estate deed, which the lender will hold until the point of you repaying the debt.

If you don’t repay your secured loan, the lender can sell the item of value. That way, they can recuperate the losses. Typically, the item of value is an extra vehicle your own, your house, etc.

Are you seeking lower interest rates? Then secured loans are a great option to consider!

Even though the interest rates of secured loans are generally on the lower side, it’s important to keep in mind that they are mostly meant for larger purchases (like paying for a new house). People can easily end up paying them back for decades to come, and in some cases, even for the remainder of their lives. Therefore, even though the interest is lower per se, it could easily reach a grand total that’s higher than all the other options in the long run.

If you’re not comfortable risking an item of value, unsecured loans may be right for you

On the flipside, don’t be surprised if you won’t be able to get approved just like that; a stellar credit score is needed. It’s quite simple to understand why that is – basically, the lender is trying to manage the risk as efficiently as possible, meaning that the lower the applicant’s credit score, the riskier it gets to do business with them.

Interest rates are another aspect where this shows, as they will generally be on the higher side – much higher in comparison. Unsecured loans are also known for their not-as-favorable terms.

Unsecured loans usually involve smaller amounts of money

As a general rule of thumb, they are under $5000, and people tend to use them to pay for their studies, a personal vehicle, to renovate their homes, make small repairs, etc. There is another reason for this; the less money there is at stake, the less risk the lender is subjected to, so it’s easy to see why lenders are not often willing to approve more than the said amount as a loan. In other words, that number didn’t come out of the blue.

What to do if you don’t own anything of value and your credit score is not exactly something to write home about?

Not owning anything of value makes you ineligible for a secured loan, and a less than stellar credit score will make it harder for you to get approved for an unsecured loan. This can be a tricky situation to find yourself in, but luckily, there is an answer.

Without making it too complicated, basically, you need to find someone with a better credit score to cosign the loan. That way, should things go sideways and you find yourself unable to make payments, the cosigner would be held responsible.

Understandably, this option is not ideal, since it puts a lot of pressure on the cosigner. Therefore, you should always exhaust your other options prior to getting them involved (even if they are your close friends or relatives).

The consequences of not being able to make your payments on time

Since you’re already familiar with their main differences, let’s take a look at their similarities. If you allow yourself to get sloppy with your payments and don’t make them on time, the consequences are going to be visible not only on your credit score, but in your repayment history as well.

Again, don’t take these matters lightly, because being 30 days late with your payment can dramatically lower your credit score. If your payment is 150 days late, expect to be reported to the credit bureau.

If this was a secured loan, you can very well kiss your collateral items goodbye. You don’t want things to come to this point, as debt collectors can get involved, you can get sued, and all sorts of other unpleasant complications can take place. Therefore, it’s best to have some sort of steady income so you’ll be able to make your payments on time with zero problems.

What’s the final verdict?

Quite frankly, there isn’t any. It all depends on your unique circumstances and the situation you’re in.

The conventional wisdom dictates that you should only get a loan if you can’t raise the funds needed in any other way, and that you should only get a secured loan if you have money coming in on a regular basis. Alternatively, being prepared to lose the collateral item is another way to deal with it, but surely, it’s not what anyone would recommend.

It’s also a good idea to do some research on the lender you’re interested in working with. Are they reliable when it comes to fulfilling their part of the deal? Are their terms reasonable? Learning what other people have to say about them will also help you make a better decision. In order to check out the ratings, reviews, and additional details, visit loanreviewhq.com for more information and helpful tips or simply do it the good old way by firing up a search engine of your choice and sifting through the search results manually.


Being able to manage your monthly payments comes down to how well you can handle your personal finances. Can you resist the temptation to go on a spending spree and only treat yourself to something nice when you can afford it? Whether you choose a secured or an unsecured loan, these are the qualities you’re going to need in order to prevent things from going out of hand.


How to Choose an Online Forex Broker That Suits Your Needs

Being a forex trader can offer an exciting and opulent lifestyle, but it takes a lot of patience, knowledge and hard work to arrive there.  This market place is one of the biggest, most liquid in the world with a daily turnover that surpasses $5 trillion and being a part of it can sometimes be extremely challenging. The key is to always make the right choices and understand your needs, to embrace your individuality and to master the art of forex trading in your own way.

The importance of choosing the right forex brokerage company

Your success in trading depends on the online forex broker you choose, because that will be your ‘work place’. With a never-ending list of forex trading companies that claim to be the best in the industry, this step can turn into an extremely difficult task, but it is crucial and you need to pick wisely. Keep in mind that knowledge is power! The more you read about how forex trading works, about the trading instruments, platforms, products – the more your success rate increases. Try to understand what you need, what type of trader you are and then search for brokers that offer exactly what you want. During your research process you can visit reviews websites written by experts, like dailyinvestnews.com, which can give you trustworthy information about all types of forex brokerage companies and can save you a lot of time.

What a good online forex broker should offer

There is no universal recipe for what it takes to be a good forex broker, but there are certainly some ground rules which can be taken into consideration. First of all, they need to be regulated by one or more regulatory bodies, because this means your capital is safe. There are so many ads that pop out of nowhere, so many forex brokers that look professional but there is more than the eye meets. You can make a wrong choice, pick a fraudulent company and lose all of your funds without even getting the chance to trade. Make sure you check all of their policies, terms, conditions and legal documentation before going any further.

The next rule is related to everything the broker offers, which should feel like it’s tailored exactly to your needs. For example, the trading platform is your portal to the markets, therefore, you need to make sure it is easy to use; it has all the instruments you need and that trades can be entered and exited with ease.

Check if the broker offers multiple account types, with reasonable minimum deposit demands, good leverage, margin and spreads. For example, royalcapitalpro.com is a professional online forex broker which offers a variety of account types for both beginners and experienced traders. Apart from the platform and account types, see if the list of products is what you want and if the customer support service is at your disposal at any time. The market never sleeps and a good broker should offer assistance whenever you need it, may it be via telephone or e-mail.

We mentioned above that in the forex world knowledge is power and we weren’t bluffing. A good forex broker will always try to provide educational materials to its traders regarding the grounds of trading, strategies and all kinds of materials that can improve and shape trading skills. Equally important are the global events which can have a huge impact on your trades. It’s essential to choose a forex broker who provides an Economic Calendar updated on a daily basis, and maybe an additional news blog or news alert option.


To sum up, everything comes down to one thing: choosing the right forex broker. Once you find it and leave all worries of losing your money to a scam, the broker will make all the efforts to provide everything it takes for you to succeed and you will focus solely on achieving your goals. It seems like a lot of work and a major headache, doesn’t it? But believe us, it’s absolutely worth it!