Trading and Storing Bitcoins - The Risks and Ways to Safeguard Them

The cryptocurrency market has been on a bullish run for quite some time now, with several cryptocurrencies hitting all time highs and breaking several resistance zones. At the time of writing this article, Bitcoin has surpassed 60,000 US Dollars, a 1200% increase from the 5,000 US Dollars range that it was trading at this time last year.


bitcoins


Despite the security and immutability of the blockchain ledger which cryptocurrency transactions are conducted upon, bitcoins aren’t exactly 100% safe and they do not guarantee financial success. 


Risks Associated with Trading Bitcoins


Highlighted below are few risks associated with trading and storing Bitcoins:


  • They are volatile: Sudden market sentiment by power brokers or world events can lead to a sharp change in market price which can go in either direction. A move in the opposite direction which the trader is in can lead to partial or total loss of assets.

  • Wallet hacks: Just like normal currency, Bitcoins are stored in digital wallets. These wallets are hosted by a provider who is trusted with the safety of these assets. Users are expected to implement security protocols on their end too but things could go wrong on either end. In this eventuality, assets can be lost.

  • They are unregulated: Bitcoins and other cryptocurrencies are at the moment, not regulated by any central bank or government. They exist in a decentralized marketplace, with no issuer or authority body. This means that nobody can be held responsible for anything that happens to the cryptocurrency. 

Although the above look scary, there are several financial pieces of advice available online that can help you manage your assets the right way. 


How to Safeguard Your Bitcoins


This article is focused on highlighting risks and also showing you ways to secure your bitcoins. A few of them are outlined below:


  • Use Multi-Signature Wallet: Also called a multisig wallet, this kind of wallet is good for storing bitcoins for a long time. The security measure implemented here is to require the digital signature of more than one authorized user to be able to access the wallet. Getting the signature of one might be easy for hackers but it will definitely be difficult to get all in order to hack the wallet. 

  • Use Unique Authentication Method: The phone number, email address and password you use for creating and accessing your wallet should be different from the one you use for your other daily tasks. This is so that if they get hacked during your daily activities, the one you use for your wallet would remain safe. 

  • Use a Secure Network: Public Wi-Fis are unsecure and are notorious for having the highest rate of man-in-the-middle attacks. Cyber attackers stay on these networks to snoop through network data as they run through to the Internet, in order to steal sensitive user data. This may include but are not limited to financial data, social security number, personal accounts, etc. When trading or performing financial transactions, it is better to use mobile data or home Wi-Fi for added security.

Conclusion


Because bitcoins transactions are conducted on a highly secure network doesn’t make their wallets impenetrable by hackers. Securing your bitcoins with multi signature wallets, 2FA, secure networks are only some of the many ways to keep your financial assets safe.

When Is Bankruptcy the Best Answer for Your Debt Problems?

There are a variety of reasons why you might be in a significant amount of debt. Perhaps you lost your employment, accrued large medical bills, or made some poor financial decisions.


Bankruptcy

When your revenue is insufficient to meet your debt obligations on a monthly basis, bankruptcy is always the first choice that comes to mind.

Take a Look at the Following Facets of Bankruptcy

1.    The advantages of declaring bankruptcy. Filing for bankruptcy has some real advantages.

      You won't have to give up your house or car.

      If you declare bankruptcy on your own as an individual, your spouse's assets are not affected, and your pension is covered.

     You can also apply for credit and maintain a bank account.

2.    Some things that aren’t protected by bankruptcy. There may be certain assets that won’t be safeguarded if you declare bankruptcy.

     Any secured debt, such as a home loan, is not covered, for example. Bankruptcy does not automatically result in the loss of your home. You must, however, continue to make your monthly mortgage payments.

     Alimony and child support aren't forgiven by bankruptcy, and you're also liable for paying off your student loans in most cases.

Consider These Alternatives To Declaring Bankruptcy

1.    Talk to the creditors and try to come to an agreement. You should try to hammer out a payment agreement with your creditors. They may be willing to lower your interest rates or change your monthly payments so you can afford them.

     You may also choose to extend the term of any loans you have, which will lower your monthly payments and allow you more time to pay them off.

2.    Consolidate your debts by taking out a loan. A debt consolidation loan combines many smaller debts into a single larger loan at a lower interest rate than the other debts.

     The monthly contributions would then be far lower than the sum of the individual debts.

3.    Get a credit counseling session. Credit counseling will assist you in analyzing your income and spending patterns in order to identify the source of your financial problems. Despite the fact that these organizations do not lend money, they will assist you in determining how to allocate your funds to your creditors and pay off your debts.

Is Bankruptcy the Best Option for You?

It's a huge step to declare bankruptcy. You may want to consider one or more of the non-bankruptcy options instead of filing for bankruptcy. However, there are times when you will be unable to fulfill all of your monthly commitments, and you may continue to fall deeper into debt with each passing month.

How To Figure Out if Bankruptcy Is Your Best Option

1.    Consider all of your choices carefully. If you have any doubts about filing bankruptcy, don't make a hasty decision.

     There's no going back once you've decided to file for bankruptcy. Bankruptcy would have a long-term effect on you and your credit.

2.    Seek legal counsel. If you're certain that bankruptcy is your only choice, talk to a lawyer, financial advisor, or other financial professional to learn more about the various forms of bankruptcy.

Since each situation is unique, bankruptcy is not the best option for everyone. It isn't a magic bullet that can solve all of your financial problems. With that in mind, filing for bankruptcy may be the best choice for you. After weighing all the factors you should now be able to decide if it's the best option for your specific circumstances.

Benefits Of Using PayPal

With the great accent on online methods and digital marketing in a world with no boundaries, easy payment modes for goods and services purchased have become the need of the hour. This is where PayPal has risen to become the home of one of the largest online payments processors after it went into partnership with E bay. While E bay has had to contend with competition and has mostly been overshadowed by Amazon and others' likes, PayPal has gone from strength to strength to become the preferred and accepted form of payments with all online merchants. 


paypal


PayPal is the most used provider of third-party payments for individuals, shoppers, freelancers, and businesses. It is being used by millions of customers who require goods or services from the thousands of retailers who use PayPal as their platform for payments. Consumers are becoming more aware and smarter in their use of the internet for shopping. It enables them to connect to retailers worldwide from the comfort of their own homes or even on the move. Most of them use PayPal to make payments as it is easy to access and has gained a reputation for trust, speed, and reliability. 


Setting up a PayPal account is one of the easiest things to do, and all that it requires is a valid e-mail address. This is one of its most significant benefits of using PayPal. It is also equally easy to link that account to bank accounts and credit cards. This allows for funding and withdrawals and does away with any complications while carrying out online transactions. Business and personal transactions are permitted in a manner that is convenient and safe. It has become a part of internet marketing very much.


PayPal allows you to transfer funds to any number of accounts without any extra charges, and personal transactions attract no fees or costs. You can transfer funds to another PayPal user without being charged any fees. Recipients do have to pay for this, a charge that is relatively modest and mostly acceptable. If you think of avoiding PayPal charges, you should pay as a friend or family or opt to be paid less.


When people transact online, they are always concerned about their accounts' security and other financial details. Here is where the security that PayPal has is unprecedented. Even though there are millions of transactions and payments every day, you will never hear any complaints about their accounts being compromised. Your online purchases and money transactions are assured of high-end security. 


PayPal is straightforward to use and makes it easy to transfer money from your account in it to any of your bank accounts. It only requires you to click on the mouse, and your money will get transferred from one account to another. You can also ask for this to be done automatically once you receive payments from others to whom you have provided any services or goods. It may take a few days, but you are saved all the effort and time to track the payments and ensure that they reach you. 


It is also possible to make payments using your credit card or send and transfer money through an e-mail address.  This does away with the need to verify accounts, enter bank details and other security needs, and often make trial deposits, which serve to validate accounts. 


Opening a PayPal account will require you to provide credit card details and bank accounts that you want to use for payments that you make online. PayPal does verify these details through trial deposits and charges, and once these are done, it is not necessary for you to ever disclose credit card information. The payment is made by PayPal and charged to your credit card privately, without any online merchant involvement. This ensures that your account data is always safe from hackers or others with nefarious intent. 


It is possible to set up many credit cards, debit cards, and bank accounts with your PayPal account, and this allows you to make payments through PayPal, which will then look into all your sources to find the required funds for the transaction you have entered into. PayPal also makes it easy for you to send money anywhere globally, and this money transfer is instant. The earlier association of PayPal with E bay has allowed easy participation in the auctions conducted regularly by this e-tailer. Buyers are protected, and complaints are resolved through a reliable process. 


One of the most significant benefits of using PayPal is that its services are free. It does not ask for any processing fees or membership fees or levies any service charges. Many retailers offer discounts for payments made through PayPal, which allows PayPal account holders to save money while shopping. All that you need is the promo codes from the web page you are shopping on. 


Give PayPal a try if you have not used it before, and you will never regret having opened that account.

An introduction to the Forex Broker eToro

 eToro is a global phenomenon and it’s one of the best trading platforms all around the world. Counting with 111 million users in more than 140 countries, the name eToro has become an institution in the Forex trading world. 


forex trading


Designed with the idea of smoothening the road to new traders, the platform offers loads of features that beginners will find particularly useful, as well as abundant information that will make it easier to start trading. But the platform is also useful for experienced traders, with very intuitive management and clear options.


While many different assets can be traded on eToro (commodities, cryptocurrencies, and CFDs), Forex trading, which is the exchange of foreign currencies, is one of the most popular. 


What is Forex Trading?


Currency trading, which is commonly known as Forex or FX trading, is one of the most active markets all around the world. Trading currency means buying and selling different types of money, like US dollars, pounds, or euros. This is necessary to keep international commerce flowing and also for tourism and traveling.


Technology has made able to millions of traders operate in the Forex trading marketplace live, following the latest trends and being creative in their investments.


In fact, a platform like eToro allows trades to get started in the world of currency exchange just using a small initial capital. This, in particular, makes eToro very attractive for beginners in Forex trading.


As a matter of fact, in eToro beginner traders will find a lot of interesting information to start trading in the Forex market and heighten their chances to make a profit, therefore reducing their risk of losing their money. eToro is committed to help and educate new traders to perform well in the trading world.


Risk in Forex trading


The main risk of Forex trading comes from the volatility of the currencies you may be dealing with. While this is where opportunities come from, it also represents a risk.


Another risk factor is leverage. This tool used well can enhance profits, but it also comes with a high level of risk, meaning that losses can be higher than the initial deposit amount.


Forex Broker eToro: an introduction


eToro is one of the favorite trading platforms chosen by millions of traders all around the world. Here is an interesting eToro review that will prove the benefits this platform offers to newer and expert forex traders. 


Some of the benefits of using eToro to operate in the Forex trading market are low deposit needed to get started, potential high profits, small fees, and low costs, freedom in terms of location since all is done online.


If you’re wondering how to get started with eToro, don’t worry. Keep reading below and become one of the many users that have been initiated into the Forex trading operations, with the potential of making profits.


How to start using eToro?


Registering on the eToro trading platform is very easy and takes just a few minutes to go through the required steps. Once you’re registered you can make your first deposit and start using the many features that the eToro trading platform offers.


First of all, sign up in eToro. It only takes a minute to complete the required information in order to create a new account.

Next, you are required to verify your account. This offers safety to your account and protects your interests.


Then, it’s time to make your first deposit using one of the many options that eToro makes available to their traders. This step is also really easy!


Finally, there is nothing more to do, but start trading!

New Dental Plans Is Great For Teeth Health And Dental Care

 Over the past few years, Lake Mary Dental has expanded and added more dental services to their existing family plan offerings. Many residents and families have been thrilled with the many benefits and extras that are available to them, from free cleaning in between dental visits to free dental cleanings every single year. With the new coverage package, many long-term patients and other staff at Lake Mary Dental can celebrate an old-fashioned love story that truly played out right in front of their very eyes. Just as the wedding bells began to ring, wedding bells have now taken the place of routine dental drills.


Dental Insurance


Dental insurance is usually purchased by families before any kids come into the picture, but a new policy will be made available to children within the next year. Since dental services can be costly in today's economy, some parents may choose to wait until their children are older to get some insurance, but now's the perfect time to get some dental plans started.


dental insurance


lake mary dental care is something that all kids should receive as early as possible, even if it is only for the first few years of their life. As children grow older, they will begin to visit their dentists on a routine basis, and most kids will find themselves getting cavities and having root canals every year. Even if your child is already old enough to get dental plans through a family plan, there is still a lot of money saved on routine care and preventive services. Not to mention that children who are covered by dental plans are far less likely to develop cavities or get their teeth pulled.


With the new policy, dental care for children is offered at the same rates that you would expect to pay at an adult dentist's office. This means that if your child has a cavity or needs to have his or her tooth pulled, the cost will be no different than you would pay at a normal dentist. The new plans will allow you to take advantage of the same discounts on dental services as adults and use any savings for other medical emergencies as well.


Lake Mary Dental's new dental plan is one of the best policies out there. In fact, many people have chosen to purchase it, especially those who live close to the city. While some may feel the policy doesn't cover all of their needs, others will find that the dental services offered are very high quality and the coverage levels are high enough to keep them happy and healthy without a lot of stress.


Dental Plan


If you are interested in joining the dental plan, you will first need to schedule an appointment. To schedule an appointment, you will need to call the Lake Mary Dental offices listed above and speak to a representative who will be able to answer any questions you may have about the new dental plan. You can also call the Florida Department of Financial Services for an application that you can fill out, which will be used to determine if you qualify for this special policy. Once you submit the application, you will be able to book an appointment with a dentist that is within your zip code for a free consultation to discuss the benefits that are included with the new coverage plan.


You should be able to get the information you need to see whether or not you are eligible for this new policy after you have submitted the application. Depending on what the policy offers, you may be able to pay a flat fee or monthly fee for a limited amount of time. However, there is usually a waiting period before the waiting period expires, so if you know when that is, you can use that time to find a dentist within your area that is just right for you.


Once you get your dental plan, you will be happy that you did everything you could to get a plan for yourself and the one you want for your family. There are so many benefits that are included with this coverage and you will be able to take advantage of these benefits without a lot of stress and worry.

What is a Wax Liquidizer?

 What makes a Wax liquidizer different from other liquidizers? What ingredients do they use? How does Vape Juice work?


The truth of the matter is that Vaping is one of the fastest-growing trends in the USA and it's a popular product too. What makes Vape Juice special however, is that the Vapors produced by the Vape Juice maker contains no chemical additives or any other harmful elements at all.


Most vaporizers today also contain their own organic chemicals for producing vapor but the real beauty about this product is that it doesn't. So what ingredients are used in a Wax liquidizer? Well, you can get a Vape Juice maker that contains all kinds of different ingredients like fruit extracts, fruit juices, sugar, fruit butters, and of course, propylene glycol.


Wax Liquidizer

Propylene Glycol is actually a cheap preservative that has been found to cause allergic reactions in people who are allergic to them. Since propylene glycol has no taste, it is difficult for most people to even use them as it's not as popular as other ingredients.


Propylene Glycol is usually mixed with fruit juice to produce an organic tasting vapor. But what it lacks in taste, it makes up for in concentration as well as in potency.


Propylene Glycol is commonly found in some of the cheapest and least expensive types of vaporizer available today. A lot of these products do not have very good reviews and are very low end and not very effective. What makes these products so bad is that they do not provide much in terms of cleaning. This can lead to a buildup of residue which makes a vapor very difficult to inhale without coughing.


A Vaper Juice maker uses no chemicals and instead uses fruit juices, butters, and sugars to create a very effective product. It provides a rich flavor and it also doesn't contain any of the unwanted ingredients that are usually found in cheap Vapors.


The Vaper Liquidizer is more than just an affordable way to create a vapor. You can save a ton of money on your Vaper Juice by using a Vaper Juice maker over a cheaper one.


A quality product should also provide you with easy cleaning so that you can keep your own product fresh and clean. This will make your experience with the product more enjoyable.


Many of the better quality waxes today can also be used on other types of vaporizers. So if you're looking to make a very potent vapor then one of the better brands will work well for you.


These products range in price from $50 to hundreds of dollars. If you're just trying to make a basic vapor then you may want to try out one of the cheaper brands.


If you want to be able to use this product with other types of products then it would probably be best to stick to the cheaper brands. This will give you a chance to try the product out before spending the money on the top brands.


While the higher-priced products may be better than the cheaper products, it isn't really worth spending a fortune on one of these quality products. You can find a Vaper Juice maker to suit your needs and taste.


With a vaporizer you can produce a very effective product that does not involve any chemicals and is very easy to use. You won't need to worry about having to use too much oil to get a good amount of vapor or even wasting any of it.


This quality vaporizer has been around for a long time and it is still making people happy today. If you're looking for a vaporizer with a higher quality then you may want to look for one of the top-rated brands. There are many people that love them but there are also some people who don't.


The only good thing about a good vaporizer is that it allows you to create a quality product in your home. You can find something that meets your needs and tastes perfectly.

7 Best Ways To Save Money From Salary

Saving your money from salary is more difficult than making money.

If you're making $1000 a day but you're not saving your money then there is no importance of that money.

Well, if you understand how to save money from your salary, you can easily achieve your financial goals no matter how hard they are.

In fact, this post will show you exactly how to save money from your salary.

Save Money From Salary

Let's have a quick look at what are the ways to save money from your salary:

  • Keep a track of your finances
  • Pay off your debts first, if you have any debt
  • Keep Tracking Your Expenses Every Month
  • Cut Down Your Extra Expenses as much as you can
  • Save Your Money While Shopping
  • Switch to an online savings account
  • Set direct deposit or Use Automatic Savings App to save automatically

1. Keep a track of your finances

Since you have a consistent fixed income, it is very important to manage and save your money, one of the important things is to keep a track of your finances.

The biggest mistake people do is they just don't care about their financial situation, buy anything that they want and not try to save some extra money.

The most efficient way to keep a track of your finances is to make your budget list and spending list.

While making a budget list try to write the most necessary expenses first and least important in the end. In this way, you'll actually realize what are the important expenses for you.

Well to find out whether you have invested in the right expenses or not, make a list of the expenses that you have spent in a month. To find out your monthly expenses, you can use your past credit card bills or bank statements.

All right, find out which important things you have really done and what unnecessary things you have bought or did.

2. Pay off your debts first, if you have any debt

Before saving money from your monthly salary, you have to pay off your debt quickly.

If you will not pay off your debt, your more than half income will be wasted in paying off your debt. And in this way, you will keep taking new debt just to pay off the previous one.

To pay off your debt, one of the most important things is to say no to more debt. It doesn't matter whether you have owed a high-interest debt or low-interest debt, both are bad for financial life. A low-interest debt also takes a large amount of your income to pay off that debt.

I know it sounds obvious, but it is not. What most people do is just take another debt to pay off the previous one. And if you do this, you will never get out of the debt.

But, the problem becomes more difficult when you have a low income. In this case, it is very important to make a proper strategy to pay off your debt.

Well, I have recently published a post on how to pay off your debt with low income

3. Keep Tracking Your Expenses Every Month

Your expenses play a major role while saving your money. It is very important to keep tracking your spending.

How can you keep tracking your expenses?

Well, you can easily do that by making a budget list, you can easily do that in google sheets or use the traditional way of writing lists with the help of paper and pen.

But, how can you know what you have spent?

To know what you have spent, you can use your past month's credit card bills or bank statements, or you can also see your purchase on any app if you use a savings app.

It is not about for a month or two, it's about every month. It is important to make your expenses list and keep tracking your expenses every month.

Sometimes, you'll see that there are more expenses while sometimes expenses go very high. Whenever the expenses fall down, try to save more money on that month.

And, when expenses go high, you must know what those expenses are and why they occur.

If you analyze your expenses in this manner, it will become easier for you to cut down your extra expenses.

That's our next tip.....

4. Cut Down Your Extra Expenses as much as you can

After tracking your expenses, the next important thing to cut down your extra expenses.

Having extra expenses is normal but the problem is to find those expenses. Because if you are spending your money on those expenses, it means you want to do it. And in this case, you'll not find that extra expense.

Those extra expenses can be anything like Entertainment expenses, your any addiction, any non using services.

If you use different online services like Netflix or any app services, sometimes you set automatic payments for a long time. If you're using private vehicles for traveling, try to use public vehicles as they are more cheap.

The best way to know what your extra expenses is to make your spending list. To find out your monthly expenses, look at your past credit bills and bank payments. Now, have a look at your past payment and find out your extra expense.

Try to avoid that expense and invest that money or put it into a savings account.

5. Save Your Money While Shopping

Of course, all of you want to save your money while shopping.

But, the question is how can you do that?

If you shop offline, you can buy groceries, clothes, and other products in the large stock when you find a good amount of discount and offers for later use.

Well, if you shop online, you have a great chance to save your money. It is very important to save your money while shopping online.

How can you do that?

Use the best cashback apps that help you to save money while shopping online. You can use the wikibuy app and honey chrome extension for saving your money.

For grocery shopping, you can use Shopkick, it helps you to save money while shopping for groceries.

Other than giving the best coupon code, it also helps to track the price of any product. When you will view any product in the wikibuy app, it keeps tracking the price of that product and let you know whenever the price of that product will fall down.

On the other hand, Honey is a chrome extension that provides coupon codes in just one click. It is very useful when you want a coupon code very fast while shopping online.

There is also one more app that is Ibotta which helps you to save money even after shopping. Just scan your shopping receipt and it will automatically add money to your account.

6. Switch to an online savings account

Easy to access is not only the reason to switch to an online savings account.

There are more other benefits like you get higher interest for your savings whenever you'll save money in your savings accounts. You can keep your savings without paying monthly fees for it.

Apart from these, there is one more benefit of switching to an online savings account, you can automate your direct deposits or withdrawal from your checking account to your savings account.

Well, this is something that you'll learn in the next tip.

7. Set direct deposit or Use Automatic Savings App to save automatically

It is very difficult to save money from yourself.

How good it will be if you can save your money automatically?

Well, you can do that. You can set direct deposits or withdrawals from your checking account to savings account to save money automatically. You'll have to set the amount and frequency ( exactly how many times you want to transfer your money from checking account to savings account).

These automatic savings can help you to save for future retirements, achieve your future goals, or build emergency funds.

If you don't want to do this, you can also try the some online apps. It automatically rounds-up your money to save your money automatically.

Whenever you will purchase anything from your credit cards and transfer that money into your acorns core account.

Other than saving your money automatically, it also helps to save your money while shopping online. Its found money feature helps to save your money whenever you'll shop with their partner stores.

Bottom Line For Saving Money From Your Monthly Salary

Here you have 7 best ways to save money from your monthly salary.

In short: if you want to save money from your monthly salary, keep tracking your finances, cut down your extra expenses, and use cashback apps to save extra money while shopping online.

Now I would like to know something from you:

Which tips are you going to try?

Are you going to use cashback apps while shopping online?

Or maybe you'll try an online savings account.

Either way, let me know your opinion in the comments section below.

About the writer: Anshul Kahar is a Founder of Acetechdollar which is a personal finance blog. He is a college student who loves to gain knowledge about finance. He loves to gain and share the knowledge of stocks, personal finance, loans, and debt which he shares with its audience with the help of his blog.

How to be Prepared Financially for the Next Pandemic

 Looking to be financially secure for the next pandemic? 

Today, I have a great article from Neiko Johnson on how to be financially prepared for the next pandemic. Neiko and his wife paid off $240,000 of debt in 27 months. They share their finance knowledge and debt-free journey on their blog Secret to Finance. The primary focus of their blog talks about budgeting, paying off debt, money tips, building generational wealth, and increasing income with side hustles.

In today’s society, money issues have been the norm and it happens to people in every income bracket.

It is important to understand what areas of your financial plan to focus on to be financially prepared for the next pandemic. You want to be proactive and not reactive when it comes to your money and life.

First off, personal finance is 80% behavior and only 20% head knowledge. This simply means that it is critical to understand the basic principles of finance, butit is even more important to understand how to execute those principles.

Use the 3 tips below to find the right steps to take to reach financial security and live with an ease of mind when it comes to your money.

1. Get on a budget

If you are not already on a monthly budget, this is the best time to get started. Getting on a budget is one of the most important things you need to do to be prepared financially.

A budget is not putting you on a spending restriction. It is simply allowing you to control where and how you spend your money. Certainly, some people view a budget as pointless, butit is key to your overall financial success.

Follow these easy 5 steps to create your monthly budget:

1. Calculate your after-tax income

2. Calculate your monthly expenses

3. Choose a budgeting plan

4. Write it out and commit to it (your spouse too! if applicable)

5. Reconcile and revise as needed

Your income is your quickest way to build wealth. Getting on a budget takes time and energy, however, having one will be beneficial in the long run. Ultimately, knowing where you spend your money may seem like a boring task, but it helps you move towards your financial goals.

Of course, there are a lot of different budgeting methods out there. Butwhat is important is to choose the best one that works for you.

We use the zero-based budgeting method. It helps us stay motivated and focused on what is important in our budget.

2. Get out of debt and stay out of debt

Getting out of debt is one of the most important parts of building financial security. But, to take it even further, staying out of debt is the gamechanger. My wife and I focused on sacrificing our lifestyle to make progress paying off debt

Debt is anything owed to someone else, including student and car loans, medical bills, and credit cards. One thing to remember, being in debt will slow down your progress to building wealth. In other words, as the great Warren Buffett said, “if you take debt out of the equation, it would almost be impossible to go broke.”

3. Build an emergency fund

Having a financial plan is important but building an emergency fund is one thing everyone must do immediately. You should establish an emergency fund before paying off debt. The perfect time to build an emergency fund is before the emergency happens.

It is not if an emergency will happen, it is when. We all go through things in life and we must plan accordingly for the unexpected. I suggest starting with a smaller emergency fund of 1-2 months of monthly expenses until you are out of debt. Out of debt means, all debt paid off not including your house.

After that, increase your emergency fund to 3-6 months of monthly expenses. Build a bigger emergency fund if you do not have a secure job.Above all, think of your emergency fund as a safety net.

Final Words – how to create financial security

In conclusion, being financially prepared for the next pandemic starts with making sure your finances are in order. It is not too late to get started on your financial plan. It will take hard work, but it is not impossible.

Set your financial goals and go execute them. Start with focusing on your budget, getting out of debt, and building an emergency fund.

You are now ready to get financially prepared for the next pandemic. You got this!

How Do Accountants Add Value To A Business?

 If you are wondering how accountants boost value to any business then this article has got you covered. You will not agree more that adding value to the business is vital for business accountants and it is equally a struggle. There can be no one definite answer for what an accountant can do for business because there are just several things. Business owners have different needs but one thing is clear that accountants work towards maximizing the returns. One thing to note here is that advisers and accounts share the same role because a good accountant has to be a good adviser.  Now let’s see below how accounting firms add value to any business. 


accounting


Accounting Firms Ensures Hassle-Free Compliance

One of the best things which an accounting firm is capable of giving is hassle-free compliance. You will not agree more than how hard it is to comply with the business legal obligations. It can not only be a painful process but also distracting. So a reputable accounting firm is vital for alleviating the misery as they can take over the hassle. Further, they will take care of Bookkeeping, tax planning, BAS/IAS preparation, Income tax preparation and lodgement, timeliness and ASIC annual reporting

Accounting Firms Help With Growth  

A good accounting firm will also boost the growth of any business. Wondering how so? By defining the company’s goal. This definition is vital for achievement. If you thinking that how the accounting firms achieve this then they simply working on increasing the profits by improving several processes. They further create a fined tuned business plan and secure investment. One of the best thing which any business need is the proper decision making. A wrong decision can break any business.  So, to avoid such a result, good accounting firms prepares a reliable financial report which in turn aids the decision-making process.

Long Term

Accounting firms help businesses see the game in the long term. Business is not about the short term gain. It is the long term process. So accounting firms create a long-range business plan, maintain the plan, ensure asset protection, and assist with the trade sale. The working of accounting firms in all these key areas means that business is secured for the long term. 

Support Provided By Accounting Firms

Another vital thing that accounting firms provide great support. If you are wondering that what are some key areas where accounting firms provide help in then they help in returning the calls together with the emails promptly. Accounting firms own a great team where there are people with diverse skills. These firms are pro in handling the latest technology thus can provide the optimum solution.  To get such support from accountants it is vital for the business owners to get along well with them. The businesses have to value this relation by being completely honest and transparent. Business owners and accounting firms share the same value and thus they should work for mutual support. 

Why Invoice Finance Is Considered Important For Startup Companies


If you are about to start up a new business or a company, then it is for sure that you are very enthusiastic and full of energy for this journey. But it is not a matter of just one day, that you wake up one fine morning, and voila! you got yourself a brand new company.

Though many of us might wish it worked like that, but it does not! Starting a new company is full of provocations and hurdles. The first question that will come to your mind when you wish to start a new company is, How will I finance my company's startup?

startup companies

It can be very tough for a start-up company to get a loan traditionally through banks. 

Due to the huge risk factor related to a new business startup, banks do not usually give out loans to new businesses.

So what can you do in a situation like this? Are you looking for a loan that will not drown you into further debts? Then you must get a loan that is termed as, "invoice financing."

Now you might be thinking:

What Is Invoice Finance?

Invoice financing is a solution for businesses to get loans and fulfill their financing needs for their new business startup. Businesses choose invoice finance online because it is one of the most flexible loan solutions to take care of all the costs that will be incurred during the start-up of your business.

Why Invoice Finance Is Considered Important For Startup Companies?

Now let us take a look at the reason, why Invoice Finance online plays a significant role in startup companies. 

The principal speculation of why it is the most suitable selection is that invoice financing will see the receivables of your account as assets to be traded. It means that you will earn the profit from that at that specific moment. You will not have to wait for a long time for the consumers to make the payments against their invoices.

Why You Should Choose Invoice Finance For The Start-Up Of Your New Business?

Now you might be wondering, how choosing invoice finance online will benefit you and your start-up business. Well, let us tell you this known fact that invoice finance is great for any kind of B2B business.

Now let us take a look at what advantages you will receive if you choose invoice finance online:

1. There is no hidden or complicated stuff over here; everything related to invoice finance is simple. You just have to fill up a small application. Now, all that you got to do is to wait for your submitted application to get approved. 
2. You can continue your business normally. You can continue to provide goods and services to your consumers.
3. Now the next step is to, create copies of your outstanding invoices. 
4. Now you have to submit these copies of outstanding invoices along with the other relevant documents of your business.
5. Then the factoring company will check all the documentation, and then they will send you the money just within a few hours!
6. You can repeat this cycle as many times as you desire!

Why Is It Important To Use An Accounting Firm For A Long-Standing Business?

There are many services like management consulting, assurance services, or even tax management that accounting firms have to offer. There are even more services that are being offered by some accounting firms. Many people don't understand and realize the importance of an accounting firm for a long-standing business. They play a vital and huge role in a business in the long run. Firms offer a variety of advantages such as fulfilling customers' needs, profit, and value along with free services. If you were surfing the internet for this reason then this article has got you covered. This article will guide you through the importance to use an accounting firm for a long-standing business. 

Accounting firm

Accounting Firms Generate Financial Statements By Your Records

When business is concerned, it is important for a person to know all the profits even including the tiniest loss. The income statement is responsible for the very same reason. They provide you valuable information about the profits and loss in a precise form. Moreover, the balance sheet helps you to see a clear picture of your business. It provides information related to a financial position if your business. Due to this reason, one is able to analyze all its strong points along with few flaws. If a person opts for accounting firms, then he can totally rely on them and count on them.

Accounting Firms Help In Evaluating The Performance Of The Business

The results of the operations and the financial position of business are purely reflected by financial records. To be precise, they help you to keep track of your business financially. They help you keep track of possible debt, expenses, and gross margin. At the same time, they will also help you to compare your previous data with the current data which will help your business progress further. It will also help you in allocating your budget accordingly.

Accounting Firms Ensures Statutory Compliance

Without any doubt laws and regulations can be confusing sometimes as it differs from state to state. But at the same time, one can ease the whole confusion by proper processes and accounting systems. The accounting firm would confirm that the liabilities such as VAT, pension funds, sales tax, and income tax are properly addressed.

Accounting Firms Help To Create Future Projections And Budget 

Budgeting can be a huge issue when dealing with businesses. With the help of accounting firms, one can sort out any problems that are related to budgeting. Financial records play a vital role when it comes to business. The business projections and trends basically depend on historical financial data. Due to this reason, it can turn out to be much more profitable.

Accounting Firms Help In Filing Financial Statements

When business is concerned, financial statements are backed up by accounting firms. Entities that are listed require file along with stock exchanges. These financial statements are very important Without any doubt, one would suffer a lot if he had not opted for accounting firms. Accounting firms provide great benefits and ease up the whole process.