Finance Archives - Page 2 of 23

Investments To Consider When You Have One Million Dollars

January 24, 2022 by admin

A million dollars is a considerable amount of money, and if you are looking to invest this amount, there are various options available to you. You will need to consider all the options carefully and ensure you select the one you are most comfortable with and offers the least risk. When investing your money, you need to be aware that you can lose some or all of it, depending on the risk of the investment you take.

Below are some options that you may want to consider using your million dollars to invest in that offer decent returns and get your money working for you.

Investing In Property

You can decide to put your million dollars into property, and you can buy a house with your money and keep it as an investment. If you wanted, you could rent the property out to receive a monthly income from it, which can also help safeguard your investment. The property will require maintenance, and you can use the rent money you get to pay for the house’s upkeep. Keeping the house in excellent condition will help it retain and hopefully increase its value. You can see excellent returns on your investment.

Investing In Gold

Since the global pandemic, the price of gold has reached record highs, and it is an attractive investment for many people. A million dollars will get you around 12kg of gold, which is a sizeable investment. However, you will also need to consider where you will store your gold, and most options have some cost involved. When you buy from a reputable Brisbane gold bullion dealer, you can often keep your purchase with the gold dealer at a monthly cost. You can also store your investment in a safety deposit box which also has costs involved. If you decide to store your investment in your home, you will need a secure safe and suitable insurance policy to safeguard your investment. To find gold bullion dealer near, head over to Google and do a quick search.

Investing In Stocks & Shares

You can consider investing your million dollars in the stock market, but you will need to know what you are doing to keep it safe, or use the services of a reputable broker. Depending on the stocks you invest in, the stock market can be highly volatile, and there is a high chance you can lose your money in part or all of it. As such, you will want to invest in various stocks instead of putting all your eggs in one basket.

Investing In Cryptocurrency

You can also consider investing your million dollars in cryptocurrency, but this can be a highly volatile market. The price of the various cryptocurrencies is prone to big swings up and down. If you decide to invest in cryptocurrency, you may want to consider adding various ones to your investment portfolio, which is a much safer option.

If you are looking to safeguard your investment, it is often best to diversify it and spread it in different options. Having all your eggs in one basket can be devastating when your investment collapses, and you can lose everything.

4 Common Hurdles to Overcome in Global Ecommerce

July 19, 2021 by admin

Accompanying the rise in popularity of online shopping are increasing global ecommerce opportunities. Shoppers can get the latest and greatest products with just a few clicks, even if their favorite store is literally an ocean away. Brands can also pursue an omni-channel approach—offering physical stores and online-only options for shoppers near and far. It’s an exciting time for the industry.

But global ecommerce, while rewarding, is not effortless. It requires handling more moving parts to facilitate smooth, secure international sales. Here are four common global ecommerce hurdles entrepreneurs will have to overcome to be competitive in a worldwide market.

Payment

Accepting payment on an international scale is a multi-faceted challenge. How can customers pay? How does payment preference vary by location? How can you ensure secure payment regardless of endpoint device or location?

The first step is understanding the needs and wants of your target market. As CPC Strategy writes, consumers prefer different payment methods depending on what they’re accustomed to using. While over half of shoppers in Japan prefer to pay with a credit card online, 70 percent of shoppers in Germany would choose Bank Wire Transfer or Direct Debit as a payment method. Failing to offer the best payment method to customers could cause them to abandon their carts and shop elsewhere.

Global ecommerce payment innovation has progressed in leaps and bounds, and cloud based ecommerce solutions have allowed online stores to expand their range of payment options without sacrificing security. The Payment Card Industry Data Security Standard (PCI DSS) becomes even more important when you’re crossing borders.

Language

To sell to an international customer base, you’ll have to speak their language and a quick auto translation will do more harm than good. Take this cautionary tale courtesy of Business News Daily: When KFC opened in Beijing in the 1980s, its slogan “finger-lickin’ good” translated to “eat your fingers off.”

In addition to accurately translating your online store’s offerings, including the home page, product descriptions and your contact information; you’ll have to implement customer service channels capable of handling inquiries in different languages and time zones. Simple, accurate translation often starts with your platform itself. For example, several of Shopify’s themes come translation ready—all your team has to do is select the language.

Legalities

What may be legal to sell in your country may be illegal in another. Before you offer any products worldwide, do your due diligence—especially if you sell sensitive products. For example, some countries have strict rules regarding disclosure on nutritional labels. It’s your job to know your industry and how it relates to local laws so your ecommerce store does not accidentally land itself in hot water by violating them.

Logistics

Logistics like shipping are especially important when it comes to online sales. When a shipment arrives and is cleared by customs, a logistics company driver must then upload items they need delivering and take them to designated pickup stations or delivery addresses. Online stores must set forth a firm shipping and delivery policy so customers know exactly what to expect. According to Ecommerce Guide, here are the staples of a solid policy that aims to prevent misunderstandings and costly mistakes:

–Expected delivery timeframe (so international buyers know when to expect packages)

–Cost (while cost may be higher for global shipping, it’s better to be honest up front)

–Special shipping promotions and conditions (free after a threshold, discounted, etc.)

Global ecommerce is on track to grow immensely in the coming months and years. As you set your sights on seamless international sales, face these hurdles head on to figure out the best solution for your customers and your bottom line.

4 Home Businesses You Can Start (Even If You Have Small Children)

April 6, 2021 by admin

Being a stay-at-home parent is a full-time job – one that pays in memories and time spent with your children. Sometimes this isn’t enough for families who would like to make a little extra income to spend on a vacation or fun experiences together.

Fortunately, we live in the beautiful age of remote work and technology, perfect for stay-at-home parents who want to start a small (or large) business right from the comfort of their home.

From a little bit of work to some major dedication, these are four home businesses parents can start, even if they have small children running through the house.

Network Marketing

You’ve heard of companies like MaryKay, Pampered Chef, and Premier Designs Jewelry. You’ve probably even been invited to a home party where you can buy items from these companies.

If you have a large social network and a knack for meeting new people and selling items, then you may want to consider getting into a network marketing company. You’ll have a mentor to help you establish your business and even have the opportunity to build your own empire and mentor other sellers.

Print-on-Demand

If you’re an artist or graphic designer who would love to see your art printed on items like mugs, notebooks, t-shirts, and phone cases, then you may want to look into print-on-demand business models.

This model allows you to create your design at home, advertise it on a product through a website, social media, or however you see fit, and a print-on-demand company produces the product and ships it to your customer.

The beauty of this business is that you never have to keep inventory! All you have to do is design and promote!

Craft Seller

Do you have an area in your house with all of your crafting supplies? Maybe you just bought a Cricut and ran out of things to make for your house but still have an itch to keep crafting.

Consider selling your craft products like home décor, jewelry, candles, and whatever else you can craft at home. As you unwind and relax making your crafts, you can also make some extra income from your hobby.

If you want to get really serious about your craft business and find the most effective way to sell your products, conducting some retail market research is beneficial and will help you enhance your business plan.

Affiliate Marketing

Are you a creative writer or enjoy creating social media content? Then you may want to become an affiliate marketer!

When you have a blog or large following on social media, you can reach out to brands and products that you want to advertise to your followers in exchange for a commission for each sale you make from your audience.

It does take some time to build an audience and create content, but the payoff is amazing when it’s done right, and you work with the right brands and products.

The Best Ways to Increase your Credit

January 16, 2021 by admin

Credit is one of the trickiest facets of the modern world. It is the cause of much pain, anxiety, and stress. If you have been struggling with debt and have a bad credit score, you aren’t out of luck. There are many ways to raise your credit and work towards financial health. It is important to keep this goal in mind if you currently have a bad score. Some of the methods to raise your credit may seem counterintuitive. Credit is the process of showing you are good to borrow money. When you prove you are trustworthy with funds, you’ll have the opportunity to raise your score and improve your overall financial standing.

Join a Credit Union

If you have an in at a credit union, you should most definitely utilize this ability. While it may scare you to apply for a credit card, if you have the chance to get a credit union credit card, it can really help you improve your score. Not only do credit unions have better interest rates, they do not punish you for paying what you owe back early. Credit unions are much more manageable when it comes to borrowing. If you have the opportunity to raise your credit score using a credit union, you should take advantage of it. Just make sure to pay everything off immediately and your score will go up in time.

Consolidate your Debt

Another way to increase your score and get rid of money you owe is to consolidate debt. When you owe multiple creditors money, putting these into one place will give you a monthly payment you can handle. This is vital because you want to get a hold on what you owe and stick to the payments, but it is crucial to pay more than the minimum. Working with a debt consolidator will help you understand what you should pay before you consolidate what you owe and how much you need to pay every month to get this off your back. There are many debt consolidation options. If you owe multiple entities money, take the next step by consolidating it and giving yourself a chance to pay debt back.

Lease a Car

If your credit isn’t great but you can be approved for a car lease, it might be a good way to increase your score and kill two birds with one stone. When you need a car but can’t afford to buy a new one, leasing is an option if you get approved. This applies to people who have a good score but want to increase it. When you have the ability to lease a car, you should make payments on time and never pay the minimum if you can avoid it. Always pay off what you can and you’ll watch your credit score go up. When you are able to get approved for loans, you will have the chance to use it to your advantage.

Save Save Save

When you are trying to bring up your credit score, it is important to have money in the bank. You won’t be able to pay off debts if you don’t have a solid foundation to pull from. It’s so crucial to keep up with payments and always avoid the minimum. However, this is very difficult if you don’t have some money to use. Living paycheck to paycheck makes it nearly impossible to get rid of debt. That’s why it is so important to save money. Don’t give in to the impulse to make yourself feel better in the moment. It won’t help anything. Every time you want to spend money on something you don’t need, just think that it will help you get out from under your debt and raise your credit score that much faster.

Getting rid of debt and raising your credit score is not often easy. It can sometimes feel impossible. The most important thing is that you have money saved up and more coming in. Then you will be able to look towards the future and utilize your money to pay off debts and increase your credit score by taking on new ones as you can. It’s a complicated modern world when it comes to credit, but you can do this. You can get out of the hole that is a low credit score.

Managing the Family Budget

December 15, 2020 by admin

All parents need to organize the family’s finances, and sticking to a budget can be tricky. There are always some unforeseen expenses, whether it’s that the kids need something for school or you need emergency home repairs. While you can’t avoid these bumps in the road, sticking to the budget the best you can for the rest of the time is what will help you feel a little less concerned about your finances. Below are a few tips if you’re trying to figure out your family’s budget and how you can save even more.

Save for Christmas

As the holidays are just around the corner, it seems like they’re worth a mention, especially as this can be one of the most expensive times of the year for people. Getting involved in the festivities is part of the fun around Christmas, but if you are trying to stick to a budget seeing the funds deplete from your bank account is only stressful. To make things a bit easier and to allow you to enjoy the jolly season, open a separate saving account for Christmas or whichever holiday you celebrate, and put in a little bit each month from the start of the year. You could also do this for your family’s summer vacations too.

Meal Plan

Life is very busy, especially if you’re trying to balance a career with raising a family. Sometimes it feels as though you don’t get a moment to yourself, which is why a lot of people might end up going to the grocery store and picking up random things for dinner while they’re in a rush, or ordering take out. To avoid wasting food and to help you stick to your budget, take the time to plan your family meals before you go grocery shopping and only buy the items on your list. This will also help you to keep your family eating balanced meals throughout the week.

Use Coupons

If you’re trying to make some cutbacks on your spending but aren’t sure where you can, think about finding some coupons or taking advantage of discounts at the stores you like. They’re easy to find online and could end up saving you a lot of money; some even offer cashback promotions, which is even better. You can even make more money if you use this RobinHood gift card and invest.

Sell Old Stuff

Do you have things lying around in the house that are in good condition but you never use? Things like kids’ toys that are no longer played with clothes, electronic devices, etc. If you want to make some extra cash to help with your family saving plan, consider selling some of your unwanted possessions online. It’ll also help you declutter your home, so it’s a win/win situation.

Life can get expensive very quickly, and when you have a family to support, this only adds to the financial pressures. However, using some of these simple tips could help you manage the family budget a little easier and hopefully help you save up for the big things in life.