Finance

Almost everyone in the world has experienced at least one financial disaster in their lifetime. But what sets the survivors apart is their ability to bounce back.

Of course, bouncing back can take time, patience, and a little creativity. The important thing is not to dwell on your mistakes, but to pick yourself up and start over before you have too much time to think about it. Here are five steps you should take to help you do just that.

Take out a short-term loan

Depending on the circumstances of your particular situation, traditional loans may be hard to get. This is especially true if you’ve just lost your job or if your credit is less-than-perfect.

In these situations, you can turn to companies like Eastern Loans to get you out of a bind. These types of loans can see you through a gap in employment, a medical emergency, or any other sudden change in your finances.

Cut back on expenses

During a financial crisis, you’ll probably find it necessary to cut back on expenses immediately. And these cuts can feel brutal in the beginning, especially if you’re typically a spender. But this will also help you out of a bind, possibly even better than the other solutions.

You might even find you can live on less than you thought. Some examples of budget cuts you can make are to stop eating out, cancel any subscriptions you have, and avoid expensive habits like smoking or drinking.

You’ll probably find out during your budget cuts that you’re spending way too much on a lot of things. Call your cable company and ask them if they have a cheaper plan. Start drinking tap water instead of bottled. The possibilities are endless.

Host a fundraiser

It’s become pretty common for people to ask for help with the emergence of websites like GoFundMe. So you shouldn’t feel ashamed about doing it yourself. The key to making it more than just handouts is to offer something in return, like a party or dinner.

Think of it as a way to spread cheer, gather friends and family, and have some fun. You don’t even have to structure it like a fundraiser if that makes you uncomfortable. Just ask for donations to help pay for the party. But if you can have a sense of humor about the situation, that’s all the better.

Look into a dunk tank rental and let people pay to drop you in the water. Ask your favorite cousin to cook up some barbecue and set up the karaoke machine. The people who love you will be happy to surround you in your time of need.

Learn what sells

Finding extra money may be easier than you realize. For one thing, you probably have a lot of useless items lying around your house that you could sell.

And before you think no one would want your stuff, check out some of the sold listings on Ebay. You’ll probably be surprised to find out that people have sold things as strange as boxes of toilet paper rolls, tumbleweeds, and pine cones for profit.

Get a side job

Selling your old stuff can certainly be considered a “side job” if you do it enough. But aside from that, you can also pick up a buck or two by doing things no one else wants to do. For example, you can earn decent money walking dogs, mowing lawns, or tutoring.

But if you don’t feel up to starting your own business, you can always check with local retailers or temp agencies for seasonal or part-time work that’s flexible with your schedule.

 

These days, the success of a business often hinges on effective marketing. After all, there’s hardly any point in offering any products or services if the target customers remain unaware and oblivious to their existence. And more importantly, the strategies adopted must be as economical as they are effective in delivering their intended results; to keep the company costs low and, as a result, maintain consistently high profits. To this end, here are a few low-budget marketing strategies that everyone should know.

Social media

You’ll be hard-pressed to find anyone without a social media account today. This presents a unique opportunity for many businesses to generate awareness and acquire many potential customers too. Best of all, it’s a cost-effective approach to marketing since it requires no more than a small investment of time in identifying your target market as well as promoting any products and services offered by your company.

Blogs

Blogging websites continue to become increasingly popular not only amongst aspiring writers but established businesses since they serve as a marketing strategy that demands no more than time in generating interesting and relevant content. And if the budget allows, you can monetise existing blog sites, creating more leads that will enhance your company’s presence online and allow you not only to secure your target market but increase it as well.

Website

There’s a reason why plenty of businesses today often have websites: not only does it help create brand awareness, but it also provides potential customers with more information and insight about what the company is all about too. This allows a business to build a relationship with the target market even before securing them, creating both rapport as well as social credibility in the process. Small as this might appear to some, you’ll be surprised at how effective a marketing tool a website can be to any business.

Promotional materials

While the World Wide Web may serve as an endless well of potential consumers to a company, not everything can be accomplished online. As such, it makes sense to augment marketing strategies with promotional materials. From display stands and outdoor banners created with high-tech banner printers to giveaways such as pens, clothing, and other items, the investment made in promotional materials can pay dividends. And by spending time on research, you’ll be surprised at just how inexpensive the investment can be too.

It’s not hard to see why businesses continue to invest in more cost-effective marketing. The methods don’t just fulfil their intended purpose, after all, but they do so without the need for a company to commit a considerable amount of resources. By adopting the marketing strategies mentioned above, not only are you far more likely to maximise your chances of getting the desired results, but you will be able to keep your expenditure at a minimum. And as small as this might appear to some, it can make all the difference especially for companies that have no more than a modest budget to work with.

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To ensure growth, every business in the 21^st century needs to subscribe to general and commercial insurance. Some types of insurance cover may be expensive but the important question to ask is “can I afford not to have insurance?” rather than “can I afford insurance?”

You can protect your business against lawsuits and the loss or damage of data or physical assets with the use of insurance, enabling the growth of your business in the long term.

The cost of business insurance depends on two factors namely:

         The size of payment the insurer may have to make in the event of a claim; and

         The likelihood of the business making an insurance claim.

Here are 3 types of insurance covers available to businesses.

1.       Commercial property insurance: Every business with property needs to have an insurance policy that will cover for damage from varied causes, including protecting the business premises and buildings from certain risks. If you require this type of insurance to cover the needs of your own business, the things you can expect to be covered will include floods, storm damage, lightning and fire, riot protection, and the destruction of property, to name a few.

However, it is important to note that property insurance policies typically do not cover mechanical or electrical breakdown, “wear and tear”, or any policy-specified property deterioration.

2.       Business contents insurance: Machinery, stock, and contents need to be insured separately since property insurance only covers the physical business building. While getting business contents insurance, there is a choice of indemnity insurance or a replacement as new insurance.

Indemnity insurance: This is the type of insurance many working professionals will choose to protect themselves in the event of some type of human error affecting the output of their work. Indemnity insurance deducts the cost of a project that might have gone wrong due to a mistake being made on the part of the person who was hired to complete a particular task.

We can be prepared to undertake any kind of job, but mistakes will always happen at one point in the process, which makes some kind of indemnity insurance all the more vital for a hard-working professional. Businesses can choose a business interruption policy which insures against loss of profit and the higher overheads incurred as a result of a loss.

3.       Cyber insurance

Cyber risk insurance covers the damage or loss of information from IT networks and systems. This insurance is important where reputational damage and regulatory enforcement are concerned.

Cyber risks are covered by first-party insurance cover and third-party insurance cover. The former covers the assets of the business while the latter covers the assets of the customers.

Conclusion

Insurance needs differ from business to business. You could seek advice from regulated insurance brokers or insurance companies in the UK, to find the insurance covers that are suitable for your business. The Financial Conduct Authority (FCA) regulates insurance advisers, brokers, and other insurance intermediaries. A good insurance adviser should have FCA authorisation.

Navigating the complicated world of real estate can be rather difficult if you’re unsure of your needs and wants. It’s important to understand exactly what you will require of a living space and, from there, to parse various listings for at least some of those items.

The Fundamentals

If you’re going to be buying a condo, you need to specifically understand what “condo” entails, conceptually. It is, ultimately, a piece of property that is shared, but nevertheless has individual owners who oversee a particular unit. Oftentimes, there are many amenities and services located in the building itself, to which all residents have access. These typically include, but are not limited to, gyms, pools, tennis courts, and sometimes, entertainment rooms. Because it is “shared” to a certain extent, property managers are called in to maintain the standards of the building’s public areas. In this sense, they offer easy-going lifestyles, compared to the day-to-day of homeowners, who are responsible for just about all of the upkeep on their property.

Location Isn’t Everything

As any good real estate agency will tell you – like the savvy team at CondoHere – locations are prone to many changes, it terms of surrounding demographics and businesses. As soon as a complex of condo developments go into their construction phases, they attract a number of shops. If you’re buying pre-construction, you’re guaranteed to be surrounded by new coffee shops and restaurants mere months after moving in. It’s important, then, to familiarize yourself with the differences between pre-construction and other condos.

Pre-Construction Or Older Buildings

Buying a condo means that you’ll need to decide if you want an older, likely more expensive unit, or a brand-new unit that has yet to be completed, as far as construction goes. There are a few risks involved in going the pre-construction route. For example, you may face a few delays in the developments that are completely out of your control, such that your move-in date changes. At the same time, it is a far cheaper endeavor that doesn’t require an outrageous deposit, given the contingencies of construction.

Never Settle – Get What You Want

The key thing to remember is that less is never more. If what you’re looking for is a sizable unit to live in, then you shouldn’t limit yourself, as far as square footage goes. Once you determine your needs, make sure you attain those, at the very least. In order to achieve your goals, you may be required to hire a real estate agent. If you’re going with pre-construction, it’s important to solicit an agent that specializes in these types of transactions – with these tips and this kind of external help, you’re guaranteed to get the deal of a lifetime

There is no more exciting time in your life than buying your first home. Although it is a big commitment, it marks a major milestone and gives you somewhere to call your own. Whether you plan to move in by yourself or with your partner, it really is a wonderful time.

Of course, as a first-time buyer, you have not been through the whole process before. This can make it all seem a little confusing or overwhelming. If you feel like you need some help in making that first move, read on.

The best tips for first-time buyers in 2018

With so much to think about, it is always worth getting a few tips on how best to approach buying your first home. The below should give you just the helping hand you need:

• Think about location – This first tip actually is for before you buy your new home, but it’s worth factoring in anyway. Be sure to fully consider the location of any home you buy and what amenities it has close by. Also, be sure to check how easy it is to get to your work and any transport links available. All this will make sure you own your first home in an area that is suitable for your needs.

 

• Get to know your neighbors – In fact, it is great to get to know as many people in the local area of your new home as possible. Not only will this help you settle into your house but also help you integrate into the community. It will also mean that there are plenty of people to call on for help or advice if needed.

 

• Choose a home warranty – Ideally, you should try to take out a home warranty as a first-time home owner. These warranties are to cover against the repair or replacement of the major appliances and systems in your home. It is much safer and easier to budget for than suddenly getting a huge bill when your boiler or central heating system fails in the winter months.

 

• Think about your finances – Making sure to really think about your finances when you become a home owner is key. This is especially important for first-time buyers who might not have a lot of savings left in the bank to fall back on. These considerations should start before even buying your home, by asking yourself the question ‘How much home can I afford?’ and using this formula of 28% of your gross income to be sure. Once you are settled into your home, make sure to devise a budget to keep yourself financially stable.

Owning your own home is fantastic

There is no doubt that owning your own home is amazing as a first-time buyer. While there are lots of things to think about, both before and after the move, you will love having your own sanctuary to relax in. Take the time to think about the above tips and you will be able to look forward to a blissfully happy time in your new home.