Category:  Personal Finance

Personal finance covers managing your money. That can be saving and investing. Personal finance includes budgeting, investments, insurance, mortgages, retirement planning, banking, etc. In other words, it is an entire industry that provides financial services to people and advises them about financial and investment possibilities.

Traders-Paradise gives you comprehensive articles on all these matters. We’re covering all mentioned above but our team stepped forward. Here you can find very useful articles about loans, personal loans, pay-day loans, and why some are better than others.

Traders-Paradise provides you, our reader, full and detailed guides on how to apply for loans, how to improve your bad credit score, how to get out a loan even with a bad credit score.

Here you’ll find all about the process of applying, what documents are required, both for online lenders and traditional banks. So, you can be prepared in advance.

Tredares-Paradise team that has experts in different fields, will guide you, with their articles, trough the personal finance issues and help you to solve them.

We are giving you a key to keep your personal finances on the right track. You’ll learn how to obtain skills that can help you in your personal success or your business success. These articles are all about that but with a concrete explanation of personal money management. How to do that, why to do that, how beneficial it is.

  • Where to look for startup funding: the Silicon Valley or funds of Europe?

    Where to look for startup funding: the Silicon Valley or funds of Europe?

    2 min read

    Where to look for startup funding

    When you have an idea about business it is always a question where to look for startup funding. Of course, if you are not an heir to family wealth.   

    One of the most difficult hurdles meeting any ambitious European startup is how to choose the right VC firm. Someone to support your next funding circle. According to Dealroom and LocalGlobe’s report, it is better to seek the vicinity of the home. The report reveals that smaller funds always show more interest in your development.

    “Smart founders understand that you want investors who are not absentee landlords and can sit down and meet you,” said LocalGlobe cofounder Saul Klein.

    This report from Dealroom and LocalGlobe validated and examined 257 of the Series A arrangements. 

    The most unexpected conclusion is that European venture capital companies supported all 257 of the Series A arrangements between 2014 and 2018. Despite alleged increasing interest in Europe, US companies didn’t support a single one.

     

     

    But this sound somehow logical. When you are at an early stage of fundraising, the first thing you would do is to look around the neighborhood. 

    That is the reason why some of Europe’s most prosperous startups are in small towns, not in capitals.

    According to the report, the initial stage investment market in Europe is in strong form. The total number of Series A rounds rose from 40 to 73 between during the past 4 years. Their total value increased from $332m to $731m.

    Where to look for startup funding

    The well-known fact is the major startup hubs are in Berlin, London or Paris. But colonies of these activities are also Munich or Milan. Tel Aviv in Israel is also an extremely welcoming place for domestic startups. Speaking about Europe, have you ever heard that some of the most successful startups are in small towns like Montpellier in France, or Oulu in Finland? 

    This is data from the research company PitchBook.

    Traders-Paradise introduces some of the top cities for startups that are not capitals.

    Okay, we mentioned Tel Aviv with 1,900 startups.

    Barcelona in Spain has 474, Munich in Germany 331, the next is Milan in Italy with 238 startups closed deals. These cities are followed by Cambridge, Hamburg, Manchester, Glasgow, Gothenburg, Cardiff, Rotterdam, etc.

    In small towns, you can find a wide specter of companies that raising money. For example, Espoo in Finland supported a mobile phone company HMD Global, the MariaDB, a database management company also. Or the other example, Leuven in Belgium, supported Parkwind, a builder of offshore wind farms.

    How to find investors for your startup?

    You can call the nearest university with an entrepreneurial program. They usually have a powerful web of investors. Just ask them if they want to give you some advice about resources. The other source can be AngelList.

    Social networks can be useful sources to locate angel investors. Just look for investors in your niche. We highlight AngelList because it classifies investors by area or business.

    However, the best way is to get linked with the other founders in your neighborhood, to say that. Meet other people. Ask for guidance, give information, talk about the difficulties that every entrepreneur meets.

    And you will see, the things will roll on. So, when you ask where to look for startup funding, just look around you.

  • Planning When You Are Insolvent

    Planning When You Are Insolvent

    2 min read

    How to reduce costs and improve credit score

    You don’t have enough cash, right? And you don’t know how to reduce costs.  Well, it’s more likely you don’t have a plan. First of all, try not to spend more than you earn. If you do, you would prevent the growing credit card debts and you would not have broken credit score. So, what to do when you have all of this? Honestly, you are not a lonely case. Don’t worry, you still have the chance to reach your financial intentions. 

    All you have to do is to take several steps. So, let’s start. We don’t need all this stress surrounding us.

    Neglect the 10% savings rule. This isn’t time for it. Forget it.

    Puting10% of your salary into your savings account is a tricky part if you’re surviving paycheck to paycheck. You cannot save a cent. So, wait with that. So, the first step is to balance your budget.

    Further, how to reduce costs…

    Ask for bill extensions. It is often allowed. Talk to your landlord if you are worried to save a roof over your head. But consider the other possibilities to decrease your bills. For example, maybe you don’t need all the services your mobile provider is giving, or you may spend less money on electricity bills, and so on.

    If your biggest worry is eviction from your apartment, talk to your landlord, but, also, see if you can get increases on any other expenses to free up money for keeping a roof over your head.

    Let’s see what else you can do.

    Analysis of your credit card payments. What? Do you want to tell you are using that for minimum payments? Well, you are on the right path to disaster. You will ruin your credit score! Don’t even try to avoid credit card payments. That will make your debts even worse.

    Rather make the highest payment you can support. 

    Decrease spending in other fields and stay focused on your debt. Yes, you may think are not saving money while you are increasing credit cards payments. But, honestly, you do. In this way, you will be able to save up to 30% per year in interest rate. For example, if you manage to pay $2,000 added this year, you will pay almost $600 ahead. It can be on-month-rate and you are on a good way to avoid eviction.

    Moreover, prioritize your bills. Check what you have to pay as first and make a plan based on your paydays. If you already have some late bills, talk to representatives from bill company. Be honest with them and say you are going on a more stringent budget. Just tell them how much you can pay per month and don’t promise you will pay more with the next paycheck. What if some other costs arise? What are you going to do? So, just be honest.

    Review your spending in the last month. Make a list of different categories or use online banking or some app for that. Call your credit card company or companies and try to reduce the interest rate. Negotiate!  

    How to reduce costs else?

    Try to reduce your expenses. Actually, you have to do so. Check your fridge! Is there rotten food? Of course, you have to shop for less fresh food. Make a menu for one week, for example, and stick with it. The big result will come with small steps. Cut back on coffee, invite friends to your home, instead to see them in restaurants. Eating out is expensive anyway. You will not need that for a while.

    Give your budget a one-month chance. Make notes every day, use the app on your mobile or some software on your computer. Follow the spending of every cent. And you will see where you need to adjust your spending. Decide where to cut. Oh, yes! Don’t try to exclude supermarkets, utilities, and rent. You have to buy food, you must have a place to live and you need electricity and other utilities. Just reduce the light (you are not living in the surgery room, for God’s sake), and start to cook.

    And try to find more income.

     

  • Financial Matters Before Getting Married

    Financial Matters Before Getting Married

    Financial matters before getting married
    Talk to your partner about the personal finances, financial goals even before getting married
    By Guy Avtalyon

    Financial matters before getting married are always a risky topic. Getting married isn’t as simple as it seems. Yes, you love each other, but some financial issues must come to the table before you put rings on the fingers. Talking about future finances can lead to the break of your relationship but you have to have one thing in your mind: When poverty comes to the door, love might fly out the window. That’s why you must have a clear situation before getting married. You must consider some questions with your partner. 

    Financial matters very often can give you the right picture of future life. What if you are not compatible with that field?

    First of all, you must have at least a basic idea about your partner’s financial goals for the future. Has your partner any idea to change the job? Does your partner plan savings and how? Where you will be after 20 years? Compare the answers with your personal financial goals. 

    What is your most important financial intention?

    The financial intentions can run the range from paying off all debts to buying a house. Maybe your partner is planning some several-months traveling to the far East to find itself or to purchase the car. What is about you? Can you place yourself in that image? So, you have to discuss some financial matters before getting married.

    Financial matters before getting married: Is your partner a saver like you are?

    It’s necessary to have a sense of how your partner manages money. Are you similar or two different worlds? Don’t avoid talking about this. What if you are raised from your childhood to put aside for example 10% of your earnings as savings and your partner is more willing to live largely, spending today no matter what will come tomorrow? If you don’t open this question you may find yourself disappointed and frustrated later in your life. 

    What are your priorities for spending money on?

    You must discuss this before getting married. Your priority may be buying home and save for that, but your partner’s priority could be traveling every year to some exotic place. Nothing is wrong with that. The main point is to understand each other and find where you can or cannot support your partner’s financial goals and respect that. Understanding a partner’s financial goals is a good base for the future.

    Is it crucial for you to have what your friends have?

    Financial issues before getting married can be inspired by other people’s habits. Maybe you want something that others already do or have. So, take care. You must set your own financial goals, not copy others. Do you really need those high-tech gadgets your friend already has? Does your partner plan to travel with its friends or with you or both? How will you share the costs?

    How much your partner earns?

    Some surveys showed that 4 in 10 couples don’t know how big their partner’s income is. Why is important to know about your partner’s salary? Because of future financial plans. For example, your partner’s salary is $2.000 per month but plans to purchase a house worth $300,000 in the next several months. Is he/she serious? To be sure your partner has realistic expectations about finances, you have to discuss financial matters before getting married.

    How stable are you in your profession?

    Any conversation about the future should involve some issues about job security. Maybe your partner is considering changing the profession. maybe wants to continue the education. You have to be prepared for similar occasions. Some survey showed that 42% of millennials want to leave their jobs in the next two years. If your partner is one of them that will influence your finances. 

    Do you or your partner favor financially independent?

    If you want to move in together money is a big issue. Will you share your funds? Maybe you want to share a part of it? Will you open a joint account? The other study revealed that almost 1/3 millennials prefer to keep their money separated from the partner’s account. Among Gen X-ers it is the case with 11% and among Baby Boomers 13%. You have to talk about this.

    A healthy relationship is based, besides love, honesty, respect to each other’s desires, understanding the differences. When it comes to money, spending habits can be crucial for the quality of together life.

    As we said at the beginning of this article: When poverty comes to the door, love might fly out the window. So, discuss financial matters before getting married.

  • How to Make a Fortune Working From Home

    How to Make a Fortune Working From Home

    Make a fortune working from home
    How can anyone make a fortune working from home?

    By Guy Avtalyon

    I know you will ask how is possible to make a fortune working from home.
    I also have a question for you.
    Have you ever heard about Jack Cornes? His engineering insane idea into a home robotics start-up showed not insane but as profitably and brilliant.

    Jack Cornes is an entrepreneur. His first business was selling vegetables from his grandmother’s garden. He was 8 at that time. When he was 14 online clothes retail was his next successful business with international shipping. Jack founded a successful online clothes retail. Now he is in his 20s and he started with schoolmate Harry Smith, a new business startup, and launched HausBots. They started their robot business in Smith’s garage in Birmingham.

    Jack Cornes said about those days:

    “Harry is a self-proclaimed mad inventor. His parents asked him to paint the living room, which he found completely boring, so he let his mind wander and came up with a better solution.”

    Climbing painting robots

    Make a fortune working from home

    Their aim is to produce robots for the construction industry and for home use. Their first result is a painting robot. They are expecting to begin commercial trials in the next several months, actually, they want that in the next four months.

    This guy raised £210,000 to realized his idea about home-helping robots. His startup HausBots develops climbing robots to automate the painting of walls.

    Cornes likes being an entrepreneur. 

    “It is flipping tough, but I was never very good at being a cog in someone else’s machine. It is great to have some autonomy and it is amazing to be building something that wasn’t here before we started,” he said.  

    As a measure of how this project is interesting: currently, Cornes’ robots are beta testing. A large number of customers and companies are included. The companies specialized in painting outdoors, like walls of warehouses, for example, are very interested in his product. Cornes is expecting to start sells soon. 

    How to make a fortune working from home as plan No1

    And he is just as many Generation Z members that more than any time before are interested to start their own businesses. A lot of them want to make a fortune working from home. The benefits of this approach are numerous. They don’t have to pay high rents for a place to work, the working time is flexible, and moreover, they are working for their own ideas.

    According to some research young people are caught with this growth of startups. It becomes a trend among them. 

    Approximately 51% of the people between 14 and 25 age answered that they would like to start their own business. Many of them already are running some, revealed a survey ordered by the Entrepreneurs Network and VC firm Octopus Group. Also, this goal is more popular in a group of 22 to 25 years old people. Almost 60% of them said they would like to run their own business. 

    Tips to work from home

    If you don’t have a strong back, you have to start from your home. The majority never find some financial support and have to work different jobs to raise the funds and be able to finance the ideas they have. Also, they have to cut other expenses, so the best solution is to start working from home.   

    Listen, I am pretty sure they will. They will make a fortune working from home.

    The idea of freedom and being your own boss is powerful, and at the same time, the most popular. Having a passion is a great fuel. Desire to make success also.  If you want to start to make a fortune working from home it is wise to build a network of people who you think are doing excellent things. That will help you a lot.

    Some inspirational ideas you may find in our tutorial HERE

  • Why Zero Bond Yields Happen

    Why Zero Bond Yields Happen

    Why Zero Bond Yields Happen
    Bond yields in high-level markets are declining for the last 20 years. What is happening with negative or zero bond yield?

    By Guy Avtalyon

    Zero bond interest rates mean that the yields of the bonds are 0%. This indicates a monetary policy that aims to stimulate the economy but is approaching its short term limits as the short term interest rates can’t be negative. This situation indicates that monetary-policy makers and markets see increased deflationary pressure on the currency of the country.

    This leads to long term bonds’ interest rates to be negative. For example, in Germany the ten-year bond yield is negative, it is minus 0.02 percent. Actually, $13 trillion worth of bonds is giving negative rates. This interest rate will be accruing nominal losses to investors until 2030.

    In Japan, low-interest rates on a bond are predicted to stay zero or negative even longer. The 10-year bond yields in the US are a bit above 1% and the UK about 2.4%. Both countries suggest a minimum or no tendency of raises in the near future.

    Moreover, bond yields in high-level markets are decreasing for the last 20 years which was unbelievable just 2 decades ago.

    Why zero bond yields happen now?

    The financial crisis in 2008 loan growth shifted negative and continued to be depressed for a long time. It happened because households and companies had too much debt and they wanted to pay down debt. They wanted to have no debts even when the central banks started cutting the interest rates closer and closer to 0%.

    The same case was seen in Japan in the 1990s during the Lost Decade.

    Bonds interest rates are market prices, meaning they are a measure of the supply and demand of bonds. The demand is driven by a desire for low-risk assets. And bonds are a less risky asset than stocks because they offer fixed payments for an exactly fixed time. The bondholders will take something even if the country or company that issued bonds experience the crash. The interesting thing about bonds is that the riskier bond is, the pay-out is higher because investors are compensated for accepting the higher risk.

    Today, the bonds are less risky than ever. The investors are buying bonds with lower yields. Low-risk assets are exceptionally good-looking when markets are unpredictable or uncertain. For example, today in the US you have investors worry that a recession caused by a trade war with China could crash the stock markets. 

    That’s why even negative bond yield rates are more desirable than the other choices.

    Moreover, pension funds usually are buying bonds, no matter how high or low is the rate. Either from prudency of fund managers or the regulation. For instance, German pension funds hold bonds more than other assets because they can invest only 35% in risky securities.

    How does this impact your investments?

    Well, it depends on what is your outlook as an investor, meaning are you, borrower or saver. That will determine your benefit from zero bond yield.

    Low rates can be very bad for retirees. They more often hold more bonds. Retirement investment expenses have grown amazingly costly. Baby boomers may have profited from economic increase and growing stock markets. But their retirement is much more costly also. Anyway, savers and pensioners are punished when the nominal value of their investment falls.

    Actually, everyone will get a lower return on investments, or be forced to take more risk to generate a higher return. 

    If stock prices decline that will cause more economic instability. On the other hand, a lower cost of capital can boost investment and push more growth. That will be the benefit of everyone. And this possibility is the driver behind the policy of cutting interest rates by central banks.

    Why a zero bond yield is bad? 

    If the price is zero, savers will accumulate less and get less return on prior savings.

    Imagine this deal as an example of zero bond yields. You borrowed to some company $1,000 today and it will return $900 or $1,000 with no interest rate to you in a decade.
    What?
    This is exactly what is happening with negative or zero bond yield. That is not how it should work. You have to make a profit when you put your money in the market or the bank.

    Nicholas Colas, the co-founder of DataTrek, explained: “Bonds are supposed to pay the owner of capital something to pry the money out of their hands.”

    But, some really wise investors have invested almost $15 trillion in government bonds that offer negative interest rates, per a report of Deutsche Bank. That is approximately a quarter of the overall bond market.
    Negative interest rates of long term bonds in a situation of the zero-bound interest rates allow politicians to give more promises waiting the day when interest rates return to rational levels, and taxes rise to pay for it all.

  • Where To Find Investors For Startups

    Where To Find Investors For Startups

    Where To Find Investors For Your Startups
    An old story tells that almost all important brands begun as startups. Is it really true?

    By Gorica Gligorijevic

    Startups and corporate venture capital are yet underestimated and discredited category. The entrepreneurs are broadly seen as capricious and attached with dishonest strings. In some people’s minds, startups take the money and have protection from a powerful partner.

    Is it true in real life? 

    Some researches show that corporates are becoming more skilled at working with startups. It is a kind of out-sourcing. The fact is, big companies invested more than $50 billion last year into startups. The year before their investment was about $36 billion.

    It’s similar to Europe. You can read about very powerful companies like Bosh or Daimler that investing in innovative startups. The point is to stay in the game and it is easier to financially support some small startup than to develop the whole new section inside the corporation.

    Many big companies began as startups

    For example, Lyft is one of those startups, also Monzo, Bolt, etc. You just have to look at the giant’s investment portfolios.

    But, it isn’t the main subject. It is good to have such big corporations ready to invest in venture capital. The problem is if you are an entrepreneur, which company is ready to invest in your business, what is their interest, how to contact them. If you want to invest in Europe you will need some valuable information. So, Traders-Paradise recommends Dealroom, where you can find fantastic data.

    We will present you with the list of three but with the promise that we will update.

    Robert Bosch Venture Capital

    Its headquarters are in Stuttgart, Germany. As the sub-organization of Robert Bosch, it is normal that engineering technology is their focus. Its investments in AutoAI, Actility, Movidius, etc are well-known. With offices in Stuttgart, Frankfurt (both Germany) and Tel Aviv, Shanghai, and Sunnyvale in California, US we can say it covers almost all continents. 

    The company says about itself:

    “With offices in Europe, Silicon Valley, China, and Israel, we are working with Deep-tech companies worldwide. Having our investment sweet spot at an early stage we are also looking into later-stage companies, as well as seed-stage in selected cases. We prefer to syndicate our investments with existing or new investors in the company and can take the lead, co-lead or follow as necessary. Beyond the financial commitment, startups receive access to our vast network and support in commercial collaborations. Up to EUR 15m per company for 5-25%, Equity Position and 100% Commitment”

    When they are investing in startups and venture capital their focus is on AI/Deep Learning, IoT, Distributed Ledgers, Analytics, Next Generation Computer Architecture, AR / VR, Mobility Solutions, Autonomous Driving, as we found on their website.

    Novartis Ventures is one of the startups

    Their headquarters are in Basel, Switzerland and they operate as sub-organization of Novartis, a multinational pharmaceutical company also based in Basel. They already have been invested in Nabriva Therapeutics, Proteus Digital Health, Galera Therapeutics, etc. 

    The essence of their investment strategy we found on their website: 

    “Our primary focus is on the development of novel therapeutics and platforms. In our investments, we look for unmet needs and clinical impact, novel proprietary science, and understanding of the mechanism, management, and board experience and capital efficiency in the program. Foster innovation, drive significant patient benefit and generate superior returns by creating and investing in innovative life science companies. NVF is stage agnostic, engaging in investments from seed- to later-stage life sciences companies across Biotechnology/Biopharma. NVF manages over $800m in committed capital and more than 40 portfolio companies across North America, Europe, Israel, and Asia/Pacific. We invest in North America, Europe, Israel, and Asia/Pacific with approximately USD 800 million under management in committed capital and more than 40 portfolio companies. We continue our strategy of making larger focused investments and anticipate total investments up to USD 30 million per company over its life. We make equity investments in Biotechnology/Biopharma life sciences companies. NVF is stage agnostic and engages in seed investments as well as later-stage investments. We typically lead or co-lead an investment and play an active role on company boards.”

    So, you can see that health is their focus while investing in startups.

    Swisscom Ventures 

    With headquarters in Zurich, Switzerland operates as a sub-organization of Swisscom. Their business focus is on communications. Since now, they have already invested in startups like SimpliVity, Symetis, Quantenna Communications.

    What they say about their investment strategy Traders-Paradise found on their official website:

    “We are investing in Swiss and global technologies to foster digital transformation. More than 40,000 new companies are set up in Switzerland every year. We look in particular at the Swiss high-tech companies and University Spin-offs as they are fundamental contributors to the economic growth and innovation of Switzerland. We are typically leading or co-leading financing rounds from the early beginning and also take board seats. As a strategic investor, we offer entrepreneurs to access a broad range of portfolio services in addition to financial support. Those comprise the use of Swisscom’s technical infrastructure but also access to market channels and key experts in the lines of Business.”

    They say about their investment focus:

    “Artificial Intelligence – Digital applications utilizing artificial intelligence technologies and that are deployable across various industry sectors including data-driven internet services

    Cybersecurity – Advanced applications and tools to protect the integrity of networks, programs and data from attack, damage or unauthorized access

    Telecom and IT Infrastructure – Next-generation IT and cloud technologies that constitute the backbone and underlying enabler to the digital transformation comprising software, hardware, and services”

    How to start up your own bussines

    Just take a look at the list of supported startups and you will see how good is to have the strong arms behind you when starting your own business. Sometimes it looks really hard to find an investor to give life to your good idea. But, did you try? How many contacts you have? On how many doors were you knocked?

    Just don’t sit in your room and don’t cry how nobody understands you.

    Take the initiative. Be proactive! And have confidence in your abilities. Who never try, never knows. Try! And the door will open to you. Find an investor!

    Traders-Paradise will update the valuable information of this kind.

     

  • Boost Earning Potential – How To Do It?

    Boost Earning Potential – How To Do It?

    Earning Potential - The Ways To Boost It
    How to boost your earning potential? Here are several ways how to do that.

    By Guy Avtalyon

    Yes, earning potential is the highest salary for some professions. Are you ready for that? How to reach it? Why they won’t pay me that? Am I an stupid idiot who doesn’t deserve it? I am dying on my job, why I don’t have the biggest salary? 

    S**t happens. 

    No, that is the wrong answer.

    The truth is that you don’t know how to boost your earning potential.

    Well, you are not stupid but you never have thought about salary in this way. Your earning potential scenario was something like this: When I finish school I’ll find a job, and after many years of hardworking, I’ll make some progress and become the part of the management and my bosses will pay me more. 

    Good scenario indeed. Do you have the biggest salary in your company or you are still struggling and you are living paycheck-to-paycheck? Are you waiting for the next payment? Do you have a second job? Part-time one? Another full-time engagement? 

    And are you waiting for the Friday eve to get drunk? 

    But your life doesn’t have to look like that. You deserve the better.

    You’re living paycheck-to-paycheck.

    Maybe, but just maybe, you have some savings. It is more likely that you are looking for ways to earn more. Do you want to boost your earnings? Of course, you want. I know that. So, where is the problem? 

    Oh, sorry! You know only one way to boost the earnings. There is the key. What if I tell you there are so many ways to do so? 

    Spending infinite hours every day in trying to survive isn’t the only way. 

    To be clear I am not one of the believers in the Law of Attraction. That’s BS.

    But I truly believe that if you want something, really want, nothing will stop you to achieve that.  

    Also, I know it isn’t enough. If you only have the wish and do nothing, nothing will happen.

    How to boost your earning potential?

    First of all, do you really know your real earning potential?

    I can bet the majority don’t know. You have to utilize your skills where they are valued most. 

    A Google search using the words “earning potential’ will give you plenty of opportunities and ways as a result. Some of them are very stupid and impossible to realize, trust me. 

    If you want to boost your earning potential the first thing you have to do is to figure out what is your skills. What is the field where you are the best, where you are feeling comfortable and have control of the major situations that can arise? Okay, you understand the point.  

    Let’s say you have a job. But the salary is the same almost all the time. Years and years with no progress. Can you be familiar with this? You are of my kind, honestly.

    Let me ask you something. 

    How to ask for a raise?

    Why not?

    It should be a normal thing. But you must have some arguments in your hands. As a must, you have to check how much others are paid for the same job in some other company and compare it with your case. When you find they are paid better, tell that to your boss and point to your advantage, how your work and engagement provide better results to the company. Tell your boss that you are outstanding in your field but underpaid. Well, you have to be reasonable and understand that the rise in your salary will not come overnight. Bosses and companies have their own financial plans. Show that you understand that because you really can. In most similar cases, the answer will be positive. 

    But to repeat, you must have arguments, the wish isn’t enough. Arguments mean that you are truly aware of your qualities. Moreover, you have them and you showed them numerous times. So, ask for a raise to boost your earning potential.

    If your boss disagrees with you, you have two other choices. One is to stay at your current job and wait for the other opportunity, and the other is to start finding a better-paid job in some other company. Sometimes big companies have internal job ads. Stay tuned, ask around and you will find something. A friend of mine is a high positioned manager thanks to an attitude like this.

    Explore new opportunities for earning potential

    Recently I read some surveys. Very interesting thing. That survey exposes that your salary may grow even 20% if you change your job. Changing a job is a great opportunity. Along with your salary raise, you will also have a chance to do what you do best.

    Switch your job!

    Yes, you might be more occupied but you will be paid better. The new job and new position will lead you to the promotion of your abilities. 

    Dear, you are just one step away to boost your earning potential. Do it!

    If nothing helps, start a side job. It can be anything from your own business to the stock market. There are so many ways to make money outside of your current job. 

    The most important is to step away from self-pity. There is no time for wallowing in sentiment. 

    This is the only life you have one and it has no repetition.

  • Getting a Personal Loan

    Getting a Personal Loan

    Getting a Personal Loan
    How is possible to get a personal loan even with a bad credit score

    By Guy Avtalyon

    A personal loan is a good choice if you need funds for a particular purpose. But you have to consider many factors when deciding the variety of loan that suits you. You can use a personal loan to decrease debt, repay unpredictable payments, make home repairs, and more.

    How to get a personal loan?

    Personal loans allow low-interest rates for people with good credit. They are usually smaller loan products than other kinds of loans. We have to say, they aren’t undoubtedly the best choice for everyone.

    Before getting a personal loan, you have to consider several important things.

    The first thing you are asking yourself is: How much money can you get?

    Well, loan sum varies from lender to lender.  Usually, you can expect between $1,500 and $100,000.  That depends on your creditworthiness. This means that the lender will estimate your ability to pay them back before they decide to lend you money.

    How does a personal loan work?

    You will get a fixed sum and have to pay it back with interest in monthly parts until you pay back the whole amount.

    That can be after 12 to 84 months. After you pay back all, your account will be closed and you, if there is a need, can apply for the new one.

    Nevertheless, before you apply for any loan it’s crucial to consider why you require the money. Depending on that, you may choose the variety of loan that’s most suitable for your financial situation.

    What are the types of personal loans?

    You see, there are two types of personal loans: secured and unsecured.

    Unsecured loans are not backed by collateral which means that the bank determines are you qualified to get the loan. The lender will estimate your financial history. If you don’t pass for some unsecured loan maybe you’ll find the lenders who want to offer secured options.

    Secured loans are backed by collateral. Collateral is a savings account or CD. Why this is called a secured loan? Because if you are not able to pay on time, the lender can require your asset as payment for the loan. Your asset, a savings account or CD is the guarantee that the lender will get its payment.

    Where you can get a personal loan

    In the first place, it is a bank. But you must know they are not the only place where you can get a personal loan. There are other lenders too. For example, online lenders, consumer finance companies, or credit unions are places where you can acquire a loan.

    The one thing is important, you have to be qualified applicants.

    Also, you can take a risk and contact some online lenders. There are plenty of them. But you must be careful. It’s true you can get a personal loan very quickly from them. But some of them are not legit and often they are scammers. Check them first. 

    As we said previously, personal loans can give the money you need, but they are not, at the same time, the best choice for everyone. Sometimes, a credit card could be a better alternative.

    But be careful with this too. If you take a balance transfer card and you are not able to pay off your balance, you may catch an enormous amount in interest charges.

    For homeowners, there is a home equity loan. This kind of loan will give the aid you need. Usually,  it is a larger loan sum at low rates. You should be aware, you are giving your house as collateral for these kinds of loans. If you fail to pay, your lender has the right to use your house as payment for debt for the loan.

    How personal loan may impact the credit score?

    When you demand a loan, the lender will count your credit as an element of the application process. This is recognized as a hard inquiry. It will regularly reduce your credit scores by a few points.

    On the other hand, the lenders that you previously had an account with will just review your credit. This is identified as a soft inquiry and will not affect your credit score.

    It is obvious where to ask as first.

    Interest rates and fees

    Interest rates and fees can create a big distinction in how much you will pay to the end. Here are several circumstances to consider.

    Interest rates typically vary from around 5% to 36%. That depends on the lender and your credit. Meaning, if you have good credit, the interest rate will be lower. But, you will pay more interest if your loan is long-term

    Some lenders will charge you a fee to cover the expense of processing the loan. That is origination fees. It can be from 1% to 6% of the loan sum depending on lenders’ rules.

    Some lenders will charge you a fee if you pay off your loan early. What? Yes, if you pay off early the lenders will lose the full interest that they would have earned in established agreement.

    You have to know all of this or you must be informed by your lender about all the circumstances before signing anything.

    A personal loan may be a good solution when you need extra money for a particular intent. But there are many circumstances to consider. You have to decide what sort of credit is best for your condition.

    You must feel comfortable.  Also, you must find the payments like the one you can afford and not feel captured. Measure twice, cut once.