Category: Financial Literacy and Money

Your Credit Report Tells Your Life Story

Two of the focuses of my blog are Financial Literacy and Money. Building and maintaining a strong credit rating can significantly affect one’s financial health and open certain doors and opportunities. The opposite is also true. The following contributed post is thus entitled; Your Credit Report Tells Your Life Story.

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Over 65% of job applicants admit to embellishing the truth on their resumés. LIttle white lies here and there and optimistic descriptions of their tasks can move your profile from being at the bottom of the list to the top on the recruiter’s desk. If there’s one thing that most adults spend a lot of time improving, it’s their professional profile. So it’s surprising that less than half of the population care about their credit score. Indeed, almost 30% don’t know their credit score and don’t really see how it can affect their everyday lives. The most common interaction with the credit score is to check whether or not you are eligible for a specific loan or credit card agreement. Consequently, it appears crucial to draw a parallel with your professional profile. Indeed, in the same way than your resume can influence your career; your credit score can equally affect your financial situation. More importantly, you can manage what your credit score reveals about you.

Credit score breakdown

It’s a number, but it says a lot about finance management
The scale of the score for your credit report goes from 300 to 850 – although you can find specific credit card scoring systems that start at 250 and runs to 900. Ultimately, while it’s fair to say that a number might be meaningless at first, you need to understand what it means. Potential lenders and employers can ask to see your score and make an informed decision to trust you or not based on the data available. Ultimately, a score in the highest part of the scale, 781 to 850 implies you’re responsible with your money. While a score in the lowest range of the scale, 300 to 600 can put lenders and some employers off, as it shows you’re not managing your finances.

Mistakes remain visible for long
Unfortunately, lenders don’t only check your credit score, but your full report. The report is the equivalent of your financial resume. It shows all the major decisions you’ve made and can highlight some of your issues with debts or the law for several years. However, you can clear up your report gradually. If you’re worried about the time it takes to remove judgment from credit report information; you might need to get in touch with a legal expert to find out more. More judgment items are removed after 7 years from the date the lawsuit was filed, but there are exceptions. Additionally, some credit bureaus and creditors might choose not to report or mention all negative items.

People look at your finances, not your social privileges
Ultimately, there is an essential element that your credit score encourages. While a resume can suffer from stereotypes based on the education you’ve received or your race, a credit score is, as you know, only a number. The report might highlight your financial strategy and preferences, but more importantly, it showcases your priorities and the time you invest in finance management. Where discrimination is still present in the workplace, credit reports focuses on facts. Being only a number saves you from unfair preconceptions.

The bottom line, for many newcomers to the finance world, is that your credit report is not an enemy you should fight. It’s an opportunity for self-improvement – when the score is low – and for unbiased achievements. Your credit report might shut some doors but, in the grand scheme of things, it helps you to access opportunities that social, racial and gender discriminations would have made more difficult to reach.

Invest In Crypto The Right Way

Three focuses of my blog are Financial Literacy and Money, Business/Entrepreneurship and STEM (Science, Technology, Engineering and Mathematics) . Cryptocurrencies are a new technology that are impacting global markets in terms of conducting business transactions and serving as investments themselves. The following contributed post is thus entitled, Invest In Crypto The Right Way.

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If you are keen to make whatever money you can in whatever way you can, you’re probably thinking about cryptocurrency at least some of the time. This relatively new kind of currency is all the rage at the moment, and as such it has been developing something of a spike in many of its markets as well. The truth is that if you want to get in crypto trading, now is a good time to start – or at least a better time than next week or next year. But you need to know what you are doing first to make sure that you are actually going to get it right, and that is what we are going to look at today. Here are some of the things you should consider if you are to invest in cryptos in the right way.

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Choose Your Wallet

First of all, you will want to think about getting hold of a wallet which you can store your crypto coin in. A lot of newcomers find this part of the process particularly bewildering, but the truth is that it is not that hard to wrap your head around once you get going with it. There are a few different kinds of wallets, but the most secure ones are those which allow you to use two-factor authentication to gain access to them. By utilising and making the most of this kind of security, you can be sure that your wallet is going to be perfectly safe, which will help if you have any anxiety about getting started with the crypto world. Then it’s just a matter of choosing a wallet that seems good for you personally. It’s a good idea to go for one that gains you interest for BTC, so that you can make even more of your coin.

Buy Your Coin

Then you will need to go out and buy the coin that you want to buy. There are now several ways to do this. The best and safest is to go and find a crypto ATM, which are now cropping up in many major cities around the globe. With these machines, you merely purchase crypto with cash or card as you would anything else, and have the coin deposited into your wallet straight away – owing to the usual checks. Or you can consider using an online exchange which set you up with someone who you buy from via bank transfer. In either case, you can be sure that these are two of the safest ways to get hold of your crypto coin.

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Get Trading

In order to really make the most of your crypto, you need to make sure that you are trading it in the right way. The easiest way to do this is to use an approved app which does the actual trading for you, as this way you can be sure that you are going to be able to get it right. Or you can do the research, and make those decisions yourself – which can be less safe, but is much more satisfying when you get it right.

Don’t Hire Your First Employee Until You’ve Considered The Following

Some of the key focuses of my blog are Financial Literacy and Money, and both Business and Entrepreneurship. A major key for any entrepreneur is properly hiring and managing new staff – two aspects that can cause any business to crash if not done correctly. This contributed post is thus entitled; Don’t Hire Your First Employee Until You’ve Considered The Following.

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One of the biggest steps that most entrepreneurs need to take is hiring their first member of staff. It’s an exciting time when it is time to consider hiring an employee, as it means that the company is going in the right direction and growing steadily. However, it does come with a few implications as well, such as being a huge expense. If a company owner mistimes hiring an employee, then it could cost their business thousands at a time when it can’t really afford it.

So, as you can see, it is essential that you do your homework and make sure your business is in the right position to bring on a new member. To help you out, here are a few things that you need to consider before you do start looking for your first employee.

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Think About The Cost

Firstly, it’s necessary to think about the cost that will come with hiring a new member of staff. Once you do hire someone, you will need to start paying them a wage which will obviously be one of your company’s biggest expenses. It’s worth reviewing your budget to make sure that your company is making as much as you think and that you will definitely be able to cover this expense.

Think About How You Word Your Job Description

Before you start reviewing applicants for your newly open position, you will need to draft up a job description. After all, if you don’t advertise the fact that you are hiring, how will anyone know that they can apply to work for you? When you are writing the job description and ideal candidate specification, it is important to take care that you mention all the tasks and responsibilities that will come with the job. The more detail there is, then the more chance that only those with the right qualifications and experience will apply. If the job description is too vague, then you might get some unsuitable applicants, and sifting through these will only waste your time.

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Employee Or Contractor?

Before you do set out on employing a full-time employee, it’s worth asking yourself if it makes more sense to find a contractor instead. Even though contractors and freelancers are often more expensive to pay than full-time employees, you will benefit from the fact that you don’t have to provide them with any financial benefits. For instance, you will need to give any full-time employees paid vacation and sick days as well as help them with pension contributions. This isn’t the case with contractors as they aren’t entitled to these kinds of benefits. So, even though they may charge you slightly more than average, you will actually end up saving a lot of money thanks to their lack of entitlements.

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Reassess Your Workplace

It’s always a good idea to reassess your company’s base as well. It needs to be safe for people to work in or else you might end up needing to hire the likes of Richard Vadnal to represent you in the event that you are taken to court by an employee who injured themselves in the workplace. Even though you might think that an office is a safe environment in which to work, there are still some hazards and risks that you might need to be aware of. For instance, you need to carry out a regular fire drill with any employees you hire so that everyone is aware of how to act in the event of a fire. Make sure the office space is also kept clean and tidy so that there are no trip hazards on the floor. Furniture should be ergonomic so that employees aren’t at risk from developing repetitive strain injury (RSI).

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Look For Good Insurance

Once you have some employed staff on your team, you will need to get all the relevant insurance. This is so that you are covered in the events of any accidents and injuries that occur in the workplace. The insurance should pay out to cover any compensation claims so that it doesn’t have to come out of your business’s pockets. Not only that, though, but the insurance will also cover any claims from clients if they are unhappy with the quality of work carried out by your employees.

Set Up Payroll

In order to pay your full-time employees, you should set up a payroll system. This makes it much easier to sort out your workers’ tax payments as well as figuring out their insurance contributions. It can be quite tricky to set up this kind of system, especially if you have no experience in doing so. Some entrepreneurs like to outsource this to a HR professional to get them up and running, while others prefer to hire a HR team member as one of their first new recruits so that they can set up payments ready for all incoming new team members.

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Draft Up A Contract

Before you do welcome someone new onto your team, you need to make sure that there is a contract between the two of you. This is essential as it will set out exactly what is expected from all parties. For instance, it should include the agreed wage as well as employee’s scope of work. The contract should also explain how the contract can be legally terminated by each party.

Keep Records Of Everyone

Once your first employee starts working for you, it is important that you keep records of everything. These can then be used as evidence in the event of any disputes or arguments between the two of you. It’s also necessary to keep complete documents of employees’ hours, sick days and anything at all that is relevant to their position. Keep these documents safe as you never know when you might need to use them in the future.

Hopefully, considering all the points above will make it easier for you to figure out whether now is really the right time to hire your first ever employee. Good luck with growing your company!

What’s Stopping You From Seeing The Big Picture?

Some of the key focuses of my blog are Financial Literacy and Money, and both Business and Entrepreneurship. Depending on what kind of business you’re starting, a major key is eventually working on the business as opposed to working in it as described in “The E-Myth” by Michael E. Gerber. This contributed post is thus entitled; What’s Stopping You From Seeing The Big Picture?

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The devil is in the details when it comes to your work but getting stuck in those details while trying to run a business can make you oblivious to the big picture. Without a little distance and perspective, it can be much harder to notice the biggest obstacles, the best potential strategies, and the solutions your team needs. How do you get the perspective you need when you’re constantly in the trenches with the rest of the team?

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No time at all
You have to make the time to work on your business, not just in it. Everyone has multiple responsibilities and a need to be able to juggle them. Being able to prioritize both your workload and your time can be crucial. Learn how to structure your workday, breaking it down into blocks of time that you can assign to multiple tasks. This way, you can find the time every day to take on the most crucial and urgent managerial or admin tasks while still leaving time free to strategize.

All the admin
If you’re taking care of all that administrative work yourself, you might never be able to find that time in the first place, however. There are a few steps to cut back on how much you have to deal with yourself. You can automate, using accounting, payroll, and HR software to take out the man hours necessary to keep all your systems up to date. For elements that need a human touch, like answering the phone, you might want to consider a virtual assistant, too.

Tech troubles
More and more businesses are relying more heavily on tech. They can help us unlock magnitudes more productivity, but the more we rely on them, the more our success becomes tied to them. If you’re spending a significant part of your working day solving tech issues, then managed IT services might be what you need. Not only can you use them to identify and solve problems much more quickly, but they could improve or build a network that makes you tech even more versatile and valuable.

Unempowered employees
If your team isn’t empowered to make their own decisions or work proactively, then a lot of your time is going to be spent babysitting them. This isn’t always necessarily their fault, but a result of a company culture that doesn’t encourage employees to be more engaged. You can change that by getting them more informed and involved in the overall objectives.

Not enough insight
Taking a bird’s eye view of the business can help you identify workflow issues and potential improvements to communication and cooperation. If you want to implement any strategy, however, you need to know how it looks on the ground, as well as the challenges your team faces. For that reason, you need to put an effective employee feedback loop in place.

Getting that perspective is crucial for a business owner but you should never forget what it’s like to work with the rest of the team, too. Their perspective can be just as helpful as yours.

Financial Decisions That’ll Help You Down The Line

Two of the focuses of my blog are Financial Literacy and Money. Our everyday behaviors and decisions impact our where we end up financially in the future. The following contributed post is thus entitled; Financial Decisions That’ll Help You Down The Line.

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When it comes to your personal finances, you need to think beyond your current situation. It’s essential to cover your basic costs, but you need to do so in a well-calculated manner so as to ensure that you’ve got savings for the future. In this article, we’ll discuss that point along with other helpful pieces of financial advice. If you want to protect your money then here are some financial decisions you could make right now to help you further down the line.

Investing some of your earnings.
The first financial decision you could make to help yourself down the line is to invest some of your earnings. This is something you should do on a continuous basis if you want to increase your wealth; it’ll bring you additional forms of income on top of your existing salary. And there are plenty of different investment routes you can take as a beginner. You might want to do some research on getting started in the property market. With the correct guidance and management advice, you could start buying properties to lease them out (that’d bring you a nice monthly income). You could even buy properties to fix them up and sell them at an increased value.

Of course, there are plenty of other ways to invest your earnings, too. Getting involved with trading can be very profitable if you do your research and learn how to monitor market trends carefully. You might want to consider spread betting over traditional trading methods. Earning tax-free profits is just one of many reasons to trade this way. Investing wisely is the type of financial decision that could really help you down the line. You’ll be able to start building up some savings for the future.

Creating an emergency fund.
Another financial decision that will help you down the line is creating an emergency fund. We all face unexpected costs at different points in life, so it’s important to have a backup plan in place for just such occasions. Your budget can only account for regular and predictable expenses, but you should also set aside a little bit of money on a regular basis for emergency costs. For instance, your house might need repairs after a natural disaster, or you might need emergency financial support if you leave one job and start searching for another. Creating a backup fund now could really help you further down the line. You don’t want to dip into your bank account for emergency costs and find yourself low on funds for necessities.

Spending your money sensibly.
This final suggestion is possibly the most important. If you want to improve your financial future then you should simply improve your financial present. By making a proper budget, you’ll be able to start tracking your expenditures accurately and making smarter decisions with your money. Calculate the cost of your essentials, and figure out how much income you need to devote to those necessary expenses. If you barely have any remaining funds then you could start reducing your basic costs in smart ways. For instance, you could save money on groceries by using coupons and start using price comparison sites to search for better deals from energy providers. You could reduce your monthly expenses if you did a little research. And it’ll benefit you in the future if you have more money to set aside for your savings.

Managing Money Matters

Some of the key focuses of my blog are: Financial Literacy, Money, Business and Entrepreneurship. A key aspect of any successful business is the effective money management. The following contributed post is thus entitled; Managing Money Matters.

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Money makes the world go round, does it not? We all rely on money so heavily, that the slightest change in our circumstances leads us to panic to say the least. But that’s just referring to our personal lives. When business comes into it, the need for money is greater. Without money, progression needed to survive in the business world can’t be achieved, and the chance of the business failing altogether becomes all too real. So, we want to show you the money matters that needed to be managed the most, and how they can ensure that your company will thrive for years to come. Have a read on to find out more!

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Your Employees Money

Start messing with your employees money, and it isn’t going to end well for you. To help you understand what we mean, let’s paint a picture. Your employees rely on the fact that you’re going to pay them exactly what they’re owed, when they’re owed it. So many companies fail on this, or pay the wrong amount. It’s not understood by management how much this can impact an employee’s life! So, before you start making error after error, think about how you can manage it more effectively. Paystub is just one of the websites that you can use to generate paychecks, allowing you to cross reference the amount that should be paid, as well as your employees. If you feel as though the burden of running payroll is too high, and that’s why you’re possibly making mistakes, then think about hiring an in house accountant. You’re so much more likely to be able to manage money effectively rather than letting it all weigh on your shoulders.

Your Investment Money

When you start getting to the point where you’re earning enough money, you need to think about having investment money. Managing investment money isn’t the easiest game to play, because you’ve got just as much chance of losing money as you do making money. So, in terms of your investment money, think about getting a broker to do the dirty work for you. You need someone who is going to be able to make expertly informed decisions for your company and the money that it is using. If you do do your investments the right way, the money that you could potentially earn from it will be more than you could image! Good investment ideas are ones such as stocks, virtual currency, and property, but it is all about finding which one works for your company.

Your Pension Money

When you have so much money coming in, the last thing that you might be thinking of is your pension. But like the people that you employ, you should seriously start investing into your pension. You can also hire companies to help get the job done for you so that you’re saving in the right pay, and securing your future for you and your family. Even if your retirement is years away, it’s best to put aside now, as you never truly know what is going to happen to your company!

Business Leaders – Are You Wasting Time?

Some of the key focuses of my blog are: Financial Literacy, Money, Business and Entrepreneurship. A key aspect of any successful business is the efficient use of time. The following contributed post is thus titled; Business Leaders – Are You Wasting Time?

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Wasting time is the number one ‘no-no’ when it comes to anything to do with business life. We hear that ‘time is money,’ and that’s no accident. Any business leader, at least those successful the world over, will have mastered the art of effectively using their time. Honing your own personal schedule is all very well and good, but when looking at the larger picture, your business may be telling you something else entirely. If your business is wasting time, even in small ways, its inefficiency can build and build in its aggregate form.

It might take time to inspect and fully make effective, but a business concerned with improving its growth and optimizing it’s process will need to cut out the fat sooner or later. Here are the places you might look first:

Payroll

Your payroll department is often the last thing you’ll establish when you’re starting to grow your firm. This is because a certain amount of employees may not warrant a dedicated specialist to come in and handle these hours, it might be that the manager or the owner takes care of this. This task is unlikely going to be the only one undertaken by the person responsible in this case. While you must always dedicated the correct amount of time to this task lest you make mistakes that can cost the satisfaction of the employee you have impeded, you can always implement time-saving options to help you deliver your duties well.

For example, using a service to create a paystub can help you organize dedicated formatting efforts for your payroll, both calculating and providing proof of income and charges to your employees routinely and with predictable formatting. This can be very helpful if dealing with a team of variant roles and variant hours worked, as templates can be saved and you can adjust via hours, salary or any other payment criteria your business has setup. Payroll can often be the most intense and important consideration to get right, so taking out any human error and providing a uniform formatting option of proof can help the person responsible take care of this task appropriately each time.

Dead Weight

None of us enjoy having dead weight on our time. This is perhaps one of the easiest ways to reduce total staff motivation, waste money on salaries and have to conduct time and money into the cleanup that a faulty staff member will need to cover them. This means that inspecting your staff routinely to ensure they’re working hard as per reasonable standards, that they are paying attention to your policies and security/safety protocols, as well as ensuring they care about the end result of their work can help you identify anyone who isn’t pulling their weight, or who is willfully neglecting it. In certain industries such as hospitality and retail, this can be quite a common occurrence. With a skilled, reasonable and rational eye, you can decide to conduct training efforts, motivate that person further, or let that person go.

With these two simple tips, you can cut plenty of wasted time from your schedule, and the larger flow of your business.

Wonderful Changes That are Going to Improve Your Business Today

Some of the key focuses of my blog are: Financial Literacy, Money, Business and Entrepreneurship. Starting a business can be very challenging. Business owners constantly need to think about how grow and evolve their businesses in order to survive in constantly changing market conditions. The following contributed post is thus entitled; Wonderful Changes That are Going to Improve Your Business Today.

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It is really important to make sure you understand what is involved in the process of improving your business long-term. There are a lot of things that can play a role in taking the business to the next level, and you need to look at what you can do to improve. These days the business world is so competitive, and there are a lot of issues that can play a role in holding your business back, and you must think carefully about this.

Running a modern brand requires a lot of work and nurture these days, so you need to be careful and think hard about things. What can you do as a business owner to try to elevate your company above the competition and achieve success? Entrepreneurs so often focus on what they ARE doing and not what they SHOULD be doing. These are some of the excellent ways of improving your brand today.

Reinvent Yourself

Reinventing your business is absolutely essential in this day and age. It is something that needs to happen in order to help keep the company fresh, exciting, and ahead of the times. This is absolutely essential if you are looking at ways of bringing yourself more success. The company should be fresh, fun, and exciting, and this is an excellent way of achieving that. It’s also clear that business extension starts with reinvention, and this is something you have to make sure you put into practice.

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Get Closer to Your Customers

It is also so important in 2018 to try to get closer to your customers as much as you possibly can. They are the lifeblood of any company, and you can’t afford to be losing them to your rivals by not prioritizing them. So, the best thing to do here is to make sure you improve the way you approach your customers. As a business, you need to use things like UserIQ in order to try to get closer to your customers as well as getting a better handle on your management too.

Always be Financially Stable

A business can only achieve success if it has financial stability, and this is something that you need to focus on achieving as a company. That means you need to be sensible with what you are spending and how you are spending, and it also means you need to look at how you can become more financially stable as a business. This sometimes means recruiting investors or getting crowdfunding to help you take the business forward as well. Always having financial security will go a long way toward helping you remain a successful and stable business.

If you can follow some of the ideas in this post, you will be armed with some of the tools needed to make sure you are improving your business where you can. This is something you need to make sure you look at moving forward. Make changes that are going to improve and enhance your brand long-term, and understand what makes this so important.

Business Extension Starts With Reinvention

Some of the key focuses of my blog are: Financial Literacy, Money, Business and Entrepreneurship. A key to effectively doing business in today’s world is continuing to evolve in changing environments and readily addressing emerging challenges – in some instances re-branding. The following contributed post is entitled; Business Extension Starts With Reinvention.

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If you want your business to grow and expand then you need to be brave enough to reinvent it. Obviously, this doesn’t mean you should start from scratch. It just means that you shouldn’t cling to an old business plan if it isn’t relevant in today’s market. Too many companies fall into a steady decline because they’re unable to adapt to a changing industry and changing consumers. Your business needs to return to the drawing board and take some risks if it wants to push itself forwards. Business extension starts with reinvention, so this advice might help you with that.

Take a better approach to online marketing.
You might already have an online marketing strategy, but the internet is always evolving. And, as mentioned in the introduction, your business needs to adapt if it wants to keep up with the changing world. But you shouldn’t be a sheep. Following in the footsteps of your rivals isn’t going to help you increase your client base. Why would your target market choose you if you’re just offering the same thing as every other business? You need an online marketing strategy that helps you to stand out.

SEO is important, but climbing to the top of search engines will only help you to increase traffic (potentially). The real secret to expanding your business’ client base is to turn website visitors into paying customers. If you struggle to turn traffic into sales then you might want to seek help from a conversion rate optimisation agency. If you can understand what customers like to see on business websites then you’ll stand a better chance of reeling them in. It might involve completely overhauling your existing website, but (as is the theme of this article) business extension starts with reinvention.

Make some new investments.
If you’re often hesitant to make any new investments in your business then you’re going to quickly fall behind the competition. You need to take some risks that could push your business in the right direction because the risk of doing nothing is that the market will quickly lose interest in you (and that’s the wrong direction). Invest in new employees to give your business fresh ideas; invest in a new branch to help target markets in new locations; invest in better resources so that you can speed up the work process. You need to spend money to make money, as stereotypical as that is to say. Even if you fail, you learn from every mistake you make. You can only create a successful business by learning which routes to take and which routes not to take.

Be more creative with your customer service.
This isn’t to say that your customer service is bad, but forming a unique relationship with your clients might help you to stand out from the crowd. The better your customer service, the better your reviews will be, and this will help you to build a reputation that increases your client base. More importantly, you’ll be able to secure long-term clients if you treat each customer well. You could make an impact by giving away vouchers and freebies to customers as a way of showing them that they matter to your company. You could even start a referral scheme to try to encourage word-of-mouth marketing; that would definitely help to expand your business quickly.

5 Ways You Didn’t Know Your Credit Rating Would Affect Your Life

Two of the focuses of my blog are Financial Literacy and Money. Building and maintaining a strong credit rating can significantly affect one’s financial health and open certain doors and opportunities. The opposite is also true. The following contributed post is entitled; 5 Ways You Didn’t Know Your Credit Rating Would Affect Your Life.

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Ah, credit rating. You have probably heard the term in financial circles when dealing with mortgage applications and cars, but your credit rating can have a huge impact on your life – even when you didn’t realise it. Most people don’t tend to concern themselves with their credit rating – particularly young adults, who believe that a credit rating is something for homeowners and richy rich people to worry about.

Credit can have an effect on the way that you do everything. If you choose to go back to school, for example, you may need a finance loan to help you to pay for your living expenses. If your credit isn’t great, you could find yourself instead turned down for mainstream finance and turning towards loans for bad credit instead. This is a good way to start building your credit from the poor to the good, but it’s not always that simple for everyone. So, with all of that in mind, how DOES your credit rating affect your life?

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Buying Property
It’s an obvious one, but you will find it very difficult to be approved for a mortgage if you have debt on your credit file. You need to clear the debt on the file to start improving your credit rating, otherwise you could find yourself with a very high interest mortgage instead of one you can actually afford.

Owning A Business
If you are aiming to own a small business, credit can really affect your ability to ensure that your business can stay afloat. You may not be the sort of business that needs external funding to start with, but that doesn’t mean that you won’t need it later. Personal bad credit can affect your business credit.

Getting A Phone
No one can live without a smartphone these days, well, you could but it’s not the norm anymore. The thing is, electrical items like this are never usually bought outright; they’re bought on finance. If you don’t have the right credit rating, you can be turned away from getting that contract.

Utility Bills
You need to access water, electricity and gas. If your credit rating is poor, there is a chance that you could be put onto special metres for your payments because the companies would see you as not being trusted enough to pay those bills on time. These metres are often higher in cost to run. Good credit can save you cash every month.

Property Interest Rates
The amount of interest that you can secure on your mortgage is directly linked to your credit rating. So, we mentioned earlier about having trouble buying a property, but if you manage to secure finance, your credit rating can push that interest rate right up.

The key to your credit rating is to work out how to pay off the debts that you owe and gently start improving the rating that you have. Once you start to do this, you can rebuild your credit with a bad credit loan and make efficient payments to prove you can do it.