Among the most popular loan products in banking, personal loans quickly became popular after the global credit crunch of 2020. Borrowers now can take out a personal loan for any number of different reasons, but most commonly, borrowers are opting for a personal loan to consolidate credit card debt into one loan with a much lower interest rate. This is a great way to improve your credit score, and many lenders are willing to work with you. Personal loan rates vary from lender to lender, and it is … [Read more...]
Things You Should Avoid if You Get a Personal Loan
Hey! You have cash now on your bank account thanks to that personal loan you took. Now you can start your own business, take care of your payroll or even get the supplies you need for the company, right? Wrong. Business and personal loans are not the same, even though you'll get them and have free range to use them. A personal loan is meant for... well, personal things like better education or to improve your home. And they have collateral specific to you as a person, the stuff you own. … [Read more...]
Money Matters: Raising a Financially Literate Child
One of the best gifts you can give your children is financial literacy. This holds true whether you live paycheck to paycheck or have more than enough to give everything they could want and need. Many people who are well into adulthood do not understand the basics of budgeting, credit and financial management, and this can cause them serious problems. Your child benefits far more from learning how to handle money than from being given everything they ask for. Teach Yourself If you … [Read more...]
Mompreneur Special: Why Is Working Capital Important
Did you know lack of capital is the second most common cause of small business failure? About 29 percent of small businesses fail because they run out of money! As a business owner, you're certainly taking every measure to give your enterprise the best chance of succeeding. This involves ensuring you have adequate working capital at all times. If you've never come across this term, you're probably asking, �Why is working capital important?� Well, it could be the one thing that keeps yo … [Read more...]
A Step by Step Guide to Framing Financial Strategy For Your Business
The financial structure of a business is what gives a business direction. It dictates whether a business can spend on a certain asset, how much it can spend, and also how much profit it can bring in. Needless to say, the integrity of this structure has to be intact for a business to succeed long-term. This process of maintaining a sound business financial structure is known as financial health. However, the mistake that most people make is generalizing this term and ignoring specific details … [Read more...]
3 Essential Financial Tips for Startup Restaurants
There aren't a lot of things that are more satisfying and rewarding than running a successful restaurant. After all, not only are they potentially lucrative business endeavors to pursue, but they also offer plenty of room for creativity. But don't be fooled: getting the desired results in these types of ventures is by no means an easy task, especially when you consider how competitive the industry is as well as the fact that there are no guarantees in the food and service business. But even … [Read more...]
Personal Finance – Budgeting Cheat Sheet
For many people, managing finances is difficult. Many have debt such as student loans or car payments they need to satisfy, which can easily leave a burden when it comes to managing with daily expenses. Earnest student loan refinancing can be a great option for you if you�re looking to save money with a lower interest rate, monthly payment, or both. The best way to effectively manage your money is to rely on a good budgeting cheat sheet. Here are some tips that can help. After going throug … [Read more...]
Teaching Kids Personal Finance From A Young Age
Teaching children about financial literacy inevitably falls on the parents' shoulders in many cases. While some schools are now offering small lessons covering personal finance topics, many are not. The ability to properly manage spending, to regularly save money and to otherwise manage funds intelligently is essential for lifelong financial security. Without structured lessons about personal finance, children often learn about money by watching how their parents manage the family's funds. This … [Read more...]
