How Not to Get Blindsided by Easy Money and Manage Your Finances Better 76

How Not to Get Blindsided by Easy Money and Manage Your Finances Better

Various lines of credit are available to businesses and individuals, including quick funding options.

There are many inherent problems with easy financing, including high interest-related charges, hidden fees and commissions, pre-payment penalties, and possible harm to your credit score. However, these need to be weighed up against applications for bank loans, and the difficulty of being approved by Main Street financial institutions. Banks and credit unions require significant paperwork from clients vis-à-vis credit scores, business income, tax forms, and other bureaucratic red tape.

The application process for a bank loan is typically conducted at a brick and mortar institution.

Unfortunately, banks and their loan officers are rather limited in terms of what they can offer clients. They promote their own products and services, which means that they do not shop around for the lowest interest rates on loans. Since loan officers get paid commissions on the loans they write, it is in their best interest to get you to sign up, even if it’s not in your best interest. And the operative word is interest – the more the better, for banks – not for you.

How Do You Benefit from Quick Funding?

Quick funding with loans and lines of credit is beneficial, and potentially harmful at the same time. With banks, you can expect significant delays in processing applications. The qualifying criteria for bank loans are also more stringent than they are for short-term lenders, installment loan providers and the like.

Fortunately, it is possible to conduct quick and easy analysis to determine the pros and cons of quick funding versus traditional bank loans. Loan providers and loan aggregator services who work in the best interests of their clients will often provide tips on what you should be looking for when applying for quick loans.

One of the premier loan aggregator services, SmallBusinessLoansAustralia, recommends the following for clients:

Never indebt yourself if you don’t know whether you can repay the loan.

Features and Benefits of Merchant Cash Advance

This is often overlooked when people apply for quick funding via lines of credit from non-bank lenders, bank lenders, or other credit providers. The only thing worse than debt is more debt. That’s certainly not something that you want to bank on when you are facing a mountain of financial uncertainty.

With quick funding options, you can rest assured that the interest rates are significantly higher on things like payday loans and installment loans than they are with traditional bank loans.

Avoid long-term repayment of high-interest debt.

This is a no-brainer since you certainly don’t want to be paying high interest on the principal for a long period of time. The longer your high-interest loan continues, the more interest you are paying and the less you have available to pay down the principal.

There’s also something known as the opportunity cost of high-interest debt. The money that you’re losing on interest repayments could be put to better use in a savings account, or repaying the principal.

Don’t borrow money to grow money.

This one needs further explanation. Many people see quick funding options as the equivalent of venture capital, or seed capital. High interest-rate loans are definitely not the way to go since you will be needing to generate significantly higher ROI just to cover the cost of the loan in the first place.

A business in its infancy stages needs access to low-cost capital. You want to check with banks and other FinTech providers that are fully licensed and regulated at lower interest rates for growth-related purposes. If possible, try to use personal savings, or investors to grow a business.

Avoid business suffocation with high-interest loans.

There is no doubt that businesses need capital to grease the proverbial wheels and run daily operations. However, businesses that are trying to get off the ground cannot be weighed down by high levels of debt. You should always try to lighten the load on your business by making it as easy as possible to operate. Low-interest loans and affordable repayments are preferred.

These tips will help you to make the right decision when choosing between short-term lenders, banks, and credit unions. It is always a good idea to minimize your financial burden through careful selection. Always read the fine print (terms and conditions), avoid high interest, long-term debt repayments, and use comparative analysis to pick the best loan provider.

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The Importance of Exercise to Your Professional Success 4

The Importance of Exercise to Your Professional Success

In today’s world, most jobs are demanding both physically and mentally. Competition is not always based on the best resume, education, or experience. Having the upper hand in your profession is most likely linked to your ability to think quickly, act appropriately, and carry out difficult duties with the utmost quality.

You need to be able to bring something new, different, and maybe even better to the table. So, how can you get the edge? How can you maximize your professional potential and output?

Believe it or not, the answer to that question might be found outside the workplace. It may be what you do when you are not at work that makes the difference in your work. What is it? EXERCISE, that’s what!

Replace Some Screen Time or Other Time Wasters.

Everyone needs to take a break from the workday. Television, gaming, social media, and video-viewing are what we often go to for this.

Try replacing some of your downtime with exercise, or trying exercising while you are in front of the screen. Exercising instead of sitting will not only help relieve some stress from your day but also help release some built up tension so you can actually rest better at night, helping you be better prepared for the next work day.

Exercising a few hours before bedtime elevates your body temperature. When your body temperature returns to normal, your brain and body are ready to sleep.

Exercise Sharpens Your Thinking.

It is a fact that as we age, our cognitive abilities decline.

While researchers may not have found the cure for dementia-related disorders, they do know that exercise helps delay onset or slow down its progression. Exercising during the years of 25 – 45 can boost the brain chemicals that prevent shrinking of the brain. It has also been shown to create new brain cells and increase proteins found in the brain that help keep thinking skills sharp.

Exercise Reduces Sick Time.

Exercise improves general health functioning and helps build your immunity to illnesses.

It has also been shown to increase our ability to think and work under stress, rather than giving in to the stress and being more susceptible to illness.

This keeps you reporting to work on a regular basis, and taking less sick days. The more you are at work, the more productive you are, and the more your employer values you.

Working Out Increases Your Stamina.

Long work days can leave you drained and listless. If you know you are facing long meetings, strenuous work sessions, or overtime for increased production demands, you can prepare to meet these challenges head-on.

As you exercise, over time your stamina will be able to withstand longer and more strenuous workouts. It also translates into helping you stay sharp during those long, arduous workdays.

Yes, How You Look Does Count.

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While it may never be mentioned, your appearance is noticed by employers, co-workers, interviewers, etc. You do not necessarily need to look like a buff bodybuilder, but having a svelte, strong appearance is a benefit.

Other’s first perception of you is of great importance. Think about interviewing prospective employees. Honestly consider the impact of their first impression on their employment outlook. Healthy looking is definitely a check in the “yes” column.

Energy levels are also higher when you are exercising regularly, and your energy is part of how you are perceived overall. When you start to feel better about yourself, you begin to present a more positive image to your coworkers.

It Boosts Your Confidence.

When you have conquered a goal in your exercise plan, like being able to run an entire mile instead of having to stop and walk some, you know you have accomplished something. You are on your way to bigger and better goals.

There may have been times along the way that you felt like that milestone would never come, but here it is. You feel proud and motivated to keep working toward your next goal. You see the fruits of your labor. You are energized and begin to feel better about yourself overall.

You begin to feel a sense of accomplishment that does not leave when you exit the gym doors. You carry that as a boost in your confidence as you go into work.

Bring the Habits of Exercise to Work.

What else do you learn through exercise? Goal setting, resilience, perseverance, learning new things, taking chances, organizing and managing your time, just to name a few. These are great skills to boost your performance at work, too.

You begin to realize that you can take what you have learned through setting up and sticking with an exercise plan to the workplace. You can use all these skills in your career. As you do, you will become more confident and thus, more effective in your daily tasks.

All of these are learned by starting, committing to, and following through with a fitness plan, and can become more of a life plan.

If you are looking for a job, being physically fit might not get you the job, but it will definitely help your chances. Your first impression is incredibly important, so do not brush off exercise and fitness lightly.

Exercise has so many benefits like sharpening thinking, building stamina, increasing energy, reducing negative effects of stress, building immunity, and boosting self-confidence. This can really help you in your professional success.

The benefits extend beyond your exercise time.

They stay with you day in and day out. If you are not currently exercising regularly, just start today, doing something small. Some sit-ups in front of the television, taking the stairs instead of the elevator, cleaning up your diet, or increasing your walking pace as you move around the office are good ways to get started. You will feel the benefits, even with these small steps.