Category Archives: Loans & Finance

While you might be aware of how to slash costs and get paid faster, what about cash flow? Managing cash is undoubtedly an inevitable problem. It can be a challenge for even the most seasoned business owners. Therefore, there is no doubt that understanding and managing cash inflows and outflows is crucial to a company’s financial stability. The complexity of the cash flow problem stems from the misconception that positive cash flow – when more cash comes in than goes out – generates profit. Extra cash in the bank means the company has enough cash, right? Not always. There may be money in the bank, but some of it is probably going towards salaries, rent, bills and so on, which means that this money is not a net profit. If you don’t make the necessary payments, the cash flow can be negative. When more money leaves the organization than comes in, positive and negative cash flow affect all businesses. There is no way around it. However, there are strategies to manage cash flow to maximize profitability. Here are some intelligent ways to do it.

 

#1. Create a Cash Flow Forecast

How Can SMEs Improve Their Cash Flow? - Invoice Bazaar Blog

It’s important to forecast your company’s cash flow. That helps reduce uncertainty by anticipating ups and downs in cash flow and reflects business cycles. If you ever have a low or negative cash balance, you could be in trouble. Be careful when making predictions. Start with the amount of cash in hand. Then list the expected payments for each month, such as salaries, profits, rent, marketing, inventory purchases, loan repayments, tax obligations, new equipment purchases, etc. Then list the expected income for each month, such as customer payments, investment income and grants. Finally, deduct the costs from each month’s that income. To improve cash flow, review your spending plan and, if necessary, break down large purchases into smaller parts. Then compare your actual cash flow with your forecast.

 

#2. Reduce Overheads

Evaluate your current overhead costs and see where you can reduce them. Try to use your money efficiently and reduce waste. What expenses can you do without? When renewing insurance, etc., look around for the best rates and don’t renew without researching them first. Strategies may also include tax cuts, managing employee overtime, and better management and compliance. If possible, negotiate with suppliers to get a better price or contract—budget for estimating and controlling costs.

 

#3 Inventory Management

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Regular inventory checks save money and time. Establish and maintain optimal inventory levels. Too much inventory can lead to extra storage costs, possible destruction and loss of money. Too little stock can lead to lost sales and business interruption. To maximize cash flow, try to implement a system for ordering inventory on time.

 

#4 Debt Management

Good debt management eliminates bad debts, ensures healthy cash flow and helps you get payments faster. It also enables you to maintain strong customer relationships. Debt management strategies include:

  • Setting credit limits
  • Invoicing before or immediately after services are rendered
  • Short payment terms
  • Collecting interest on late payments
  • Offering small discounts for early or partial payment, and
  • Checking the creditworthiness of customers.

Ensure your terms are clearly stated in all contracts and invoices to customers, and make it easy for them to pay using electronic payment options.

 

#5 Raise Pricing

Many businesses are afraid to raise prices because they fear it will lead to lower sales. Prices should be reviewed annually. Experiment with different prices until you find the perfect amount. How much are customers willing to pay? You can’t know unless you take the chance to change. When introducing price increases, keep an eye on your key performance indicators to see what effect the price changes will have on your business.

 

Need help with business and cash management in the surgical field? Schedule a free consultation with the experts at Anaesthetic & Medical Billing Services. They’ll work with you to develop an action plan to improve your company’s bottom line.

 

 

A few years ago, most people’s life plan consisted of a relatively common and uniform project: Study until you get a degree, start a family, and keep a good job until retirement age. Simple, safe, quite comfortable and predictable. And most of us would often ask ourselves: what should I study? In which company do I apply? What additional incentives can I apply for? The space for uncertainties or innovative thinking was minimal, if not nil, and was limited to making proposals (and crossing your fingers) with one or two improvements to the work environment or the company’s products and services for which you worked.

Fortunately, times and people have changed synergistically and based on that; the tendency to undertake has taken hold. It’s no longer rare to get someone to look favourably upon exploiting your own small business ideas. In other words, now it has become very rare to find someone who wants to stick to the traditional plan and leave the idea of ​​starting their own business to others. Even those who combine both visions to obtain an intermediate version with the best of both life plans. For these people, the predominant questions are others: What do I invest in? What business ideas pay off the most in the shortest time? How much money do I need to invest? Let’s check it out!

Personal trainer

Is life fitness your thing? Are you happy sweating and moving your body? Then becoming a personal trainer is ideal for you. This idea to start your small business is perfect for you if your willingness to help others and your voice of command is combined with a certification. A growing trend is quite popular in all sports disciplines that are also marketed very well on Social Networks and can lead to other related businesses, such as healthy meals and healthy eating and life coaching.

Local Delivery Services

Yes, the big courier and package delivery companies are still there, and they are not going anywhere. However, nothing better than a private motorcycle, car or bicycle to deliver packages locally, quickly and efficiently, and at a lower price. Every day more people add their personal means of transport to help avoid the bureaucracy and slightly more expensive rates that use a more recognized courier and delivery services.

So, the image of a person in shorts uniforms delivering packages no longer dominates the market. And it makes sense. The field of work has expanded thanks to many others’ entrepreneurship, and thus, other small entrepreneurs do not have their own home delivery service. The individual needs lunch or a pair of shoes to be brought to him because they’re stranded somewhere. There you fit perfectly. If you also add the services an application, then your business opportunity goes to the fixed. Make yourself known and start pedalling.

Food Trucks

In Latin America, the big business of preparing and shipping fast food from a truck has been part of the picture forever. However, new trends and market demands add differentiating elements that you can use to introduce your own successful business idea and make it extremely profitable. Do you prefer sweets rather than fast food? A waffle and cupcake food truck is perfect for running too! In any case, investing in a food truck does require a little more investment, study, preparation and compliance with laws and regulations. Among them, you must specify the point where you will put your truck, the demand for similar businesses at that point, and the permits related to the handling and sale of food.

Manager 

Many people who keep office hours or are dedicated to their own ventures lack the time necessary to do personal errands such as going to the bank, taking clothes to taking clothes from the dry cleaner, buying food for the week, etc. In some Latin American countries, taking care of these tasks is called an agency and whoever executes it is called a Manager. It is usually an occupation that leaves good money since the services can include everything from going to Notaries to picking up movie tickets and the like. Having an agency that places a manager at third parties’ services is an idea for a small business that promises to emerge in the coming years.

Personal Shopper

This is the most stylish and elegant name for Personal Shopper. A personal shopper is generally in charge of choosing, purchasing and delivering clothing and footwear for special events. However, some hire services to take care of the entire wardrobe, without obeying a special occasion. More than an investment, what you really need to become an excellent personal shopper and make your business successful is to have a good eye and sensitivity to choose the best clothes and shoes for your clients, and take care of details related to finances who entrust you with their wardrobe. Start with your friends, and get them to spread the word. Then you can open your own blog or website and share tips related to your niche. If you are persistent and dedicated, you will soon be hiring and training others to make your small business idea a trustworthy personal brand.

On the other hand, the Internet has given way to a whole new range of jobs that began to exist only a couple of decades ago and have emerged a lot in recent years. What is unique about this line of employment is that they do not require the employee and even the employer to satisfy the demand for services, and most importantly: Each one in itself represents a successful small business idea to manage from the comfort of your home.

Now that you have decided which industry you want to start a business in, you can begin the journey of becoming an entrepreneur! Check out the second part of this article here!

Does the idea of ​​starting your own business appeal to you, or are you thinking of expanding the one you already have? Do you need ideas to start your own business? In other words, what are the most profitable small businesses today? Which ones can you start with a small budget?

It is important to emphasize that starting a business is not the end of the road and that you’ll still need to work hard to make sure it grows and remains healthy. And this is achieved with recurring investments! A business without investments tends to be stranded and does not advance.

All small businesses follow a simple law: “You need to invest money to make money.” So once you start your business, don’t forget to plan investments that will strengthen it, and you must consider getting external funds to do so. If you’re looking for a personal loan to kick start your small business in Toronto, talk to the experts at DLC Estate Mortgages INC.! Whether you’re looking to apply for a short-term or long-term loan, they provide one of the best loan solutions and reliable advice. 

If you’re looking for small business ideas, here is a rather impressive list of the latest trends in small business ideas. Hopefully, they inspire you and help you take the necessary actions to transform them into your new reality. This list of ideas for small businesses does not follow a particular order, although it is organized by two main types of entrepreneurship: Traditional and Online. Check it out and be surprised by businesses’ trends requiring little investment and always have room for another value proposition.

Local Tourism

Tourism has also evolved in terms of tastes and demands. Thus, from the so-called extreme tourism or adventure tourism to cultural tourism or experiential immersion, the strong point is to get accommodation at various hotel sites. How do you become a tourist guide then, and how do you make it a very profitable small business idea? Simple: Design several packages and offer close and real experiences for people interested in getting in touch with your immediate environment’s unique opportunities. You can even provide one of the rooms in your own home to accommodate your clients and include typical breakfasts to offer a full immersion experience. With the potential for word of mouth and recommendation, your business can flourish! 

Likewise, you can use an online marketplace application and make contacts and alliances with interpreters, restaurants, inns, iconic places according to their interests (you can collect that information from a form). You can make a name for yourself with everything long-term business potential. Get creative! Design immersion tour packages for seniors with religious interests, adventurers with a thirst for extreme experiences, animal lovers, etc. And speaking of animal lovers…

Canine Hotels (and Other Related Services)

Many people shy away from going on a trip, even for short periods, because they don’t have someone to take care of their pets while they are away. This small business idea itself lacks innovation. However, it has picked up in recent times because traditional hotels or kennels are often expensive. You can start by housing one or two animals in your house for a few weekends and then include other services such as hairdressing, morning walks, and even accompanying pets for international trips. They are ideal for small businesses settled in the same pet services niche that yield good money, and whose investment is relatively low and whose ROI is usually practically immediate. 

Online Tutor

Education has always held a place of honour in all societies. Children will always need someone to clarify their doubts, and they will surely feel more comfortable from home, in a controlled and safe environment where they can use other tools. If you have the ability and skill to teach online, this small business idea is for you. Topics and topics can range from simple to complex, and creating an interactive platform with exciting programs can be quite an adventure that also pays good dividends.

Translator 

Although Google and other similar companies offer instant online translations, the truth is that translators have the sensibility and knowledge of the world that automated translation tools lack. Creating an online business that brings together translators willing to provide humane solutions to translation problems is an excellent idea for a small business that promises high demand.

Small Business Ideas That Create Big Profits

Entrepreneurship ceased to be a taboo word and concept widely related to risks and uncertainty, misfortune and bankruptcy. However, to ensure that your investment has the best results, the search for small businesses’ ideas must initially resonate with your essence, potential and talents. That simple action will leave you big profits and better experiences. If you have other small business ideas that have a real chance of turning into significant gains, share them here. You can always learn and start with suggestions. If you’re looking for more small business ideas, make sure you check the first part of this article!

Currently, there are many tools that technology offers to simplify the work of both accountants and companies, but few are as useful and have as many functions as accounting software. It is indisputable that accounting is essential to keep a business afloat if it is organised and provides the necessary information at a certain time. Still, sometimes it can seem tedious and be synonymous with a lot of paperwork.

Fortunately, some mechanisms allow you to digitise and maintain all the information collected in a single system, avoiding the clutter of papers and minimising human error. These new systems help the accountant organise everything related to their clients’ accounting and allow companies to obtain important information without having to have 24 hours of the accounting profession, as long as every detail, transaction and operation carried out by the entity is entered. If you want to discover more about accounting software and how they will change the course of your company for the better, do not stop reading this article!

 

What’s Accounting Software?

It is a computerised program that enables the compilation of all the financial information of a company in an integrated system that, generally, handles the basic accounting principles to operate under a valid source and within the legal frameworks.

The accounting software stores organise and simplify each historical transaction carried out by an entity, which can include important information such as sales, purchases, inventory, accounts receivable, among others. Likewise, it is capable of issuing reports, balance sheets, financial statements, statistics and any other accounting data that is useful for the company.

In summary, it can be said that the main objectives of this software are:

  • Monitoring of the daily operations of the company;
  • Process improvement, time reduction and maintenance of centralised information management;
  • Timely data in real-time;
  • Simplification of financial information.

It is also necessary to highlight that in Chile, specific laws regulate the obligation to issue documents electronically, such as billing and dispatch guides, gradually including other elements. By this, entering the world of these programs will be indispensable in a few more years.

 

Importance of An Accounting Software

Automation is increasingly important in the business world, not only because of technological modernity but also because of the significant time savings generated by this advance. Previously, keeping accounts for a company or person was exhausting, mainly due to the amount of paperwork and time involved in the operation. How many times have you missed an invoice or an expense report? How many times have you been faced with cluttered piles of information? This scenario has happened to all accountants at some point, and it’s not pretty. Fortunately, systematisation has greatly diminished this problem.

The possibility of entering data periodically in the same database means a gigantic advance in the world of accounting. Likewise, along with saving time, this advance means reducing the margins of error, since an accounting system increases the precision of results, the fulfilment of objectives and the analysis of accounting information for any decision making that may be crucial for the growth of the company.

Having everything organised and grouped in a single system increases your ability to react to certain situations that could determine the future of the business, allowing you to know in time about a problem or complication that represents the line between its development or its involution.

In this way, accounting software makes it possible to improve the management of any operation, department or process that at first glance seems to be going well, but which is not the case. These solutions are even capable of tracing a whole set of actions to determine the cost of a product or service, including the invoices related to its production or purchase, the agents involved and any other calculation required to know the result.

Another of the great advantages of these platforms is that there is no limit to the number of companies you enter regardless of whether there are 10, 20 or how many customers you want. All the information is segmented into accounts for each of them. Additionally, thanks to its multi-user function, you can assign roles to third parties to enter without accessing your private information. Making your work lighter and more efficient is as simple as relying on an online accounting system. If you already do, we invite you to tell us your experience so that many other accountants know first-hand how good it is to have a specialised platform.

Finally, if you want to know more about how accounting software works and which one is ideal for your job, either as an independent accountant when running a small business, keeping a tight grip on your finances is critical to success. Contact SJB Bookkeeping in Hampton Park to get started!

There’s a whole lot of reasons why financial institutions do not approve a loan application. The reasons for this are considered strategic and confidential, but knowing the most common causes is easier to find out why your loan has not been approved. Below is a list of reasons why you may not have your loan approved:

Incorrect or Outdated Data

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Many people provide incorrect and outdated data at the time of the request. To find out if this was your case, evaluate if there was an error concerning your income information, home address or even bank details. You must provide your own aligned and updated information, as the institutions perform an analysis of your order and will undoubtedly identify this data inconsistency. Never use third party data to apply for a loan application.

Failed to Pay Previous Debts

A negative CPF is synonymous with having a bad name, a poor reputation, which means you have a debt that you have failed to pay. If you are restricted when you apply for the loan, your application will likely have more difficulties to be approved by the banks until it settles the pending issues. “But, my name is clear, and I can’t get a loan anyway.” That’s because the negative CPF is not the only reason that can cause the refusal. 

Payment History

This is one of the main points that financial institutions consider when deciding whether to approve the application and determine the interest rate and limit. The better your payment history, the more likely you will be approved and receive the best interest rate. If you have a history of overdue accounts or negotiating debts, you may be subject to credit disapproval even if you are no longer in arrears.

Payment Capacity

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You must have and prove your ability to pay the loan amount requested. Ideally, the value of each installment of the loan does not exceed 15% of your gain to maintain your financial health. The greater your ability to pay, the greater the chance that your application will be approved, and the loan amount will also be higher.

Loan Amount

If your debts exceed 30% of your monthly income, there’s a greater chance that the institution will grant you a loan. When it comes to long-term loans, the bank’s options of not releasing the credit increase too; that’s because there will be a greater chance that things get out of control!   

Profile

Your employment relationship and marital status are also factors that can influence when applying for a loan. For this reason, public sector workers, who have greater job stability, tend to find it easier to ask a bank for credit, in the case of so-called ‘payroll loans.’

Economic Crisis

When the country’s economy is going badly, banks may decide to grant a smaller number of loans due to the pessimistic scenario. That’s because the institutions seek to reduce the level of risk they can take. If the expectation of default becomes higher due to an estimate of an increase in the unemployment rate, fewer customers will be able to access credit.

Score

The term ‘score’ has become increasingly known among Brazilians, mainly for the work done in recent years by credit bureaus. The word refers to a statistical score given to consumers, which is based on market data to know the chances of default in the coming months. For example, a consumer may have a very high score, but his income commitment is also very high. That can result in the application being denied, as the loan portion would not fit into your budget. It is worth remembering that not all financial institutions use the same score data when assessing whether to make the loan or not.

Analyze Your Financial Situation

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Before seeking a loan, consider whether you really need the money and how it will be used. If it’s not an emergency, it’s best to save until you get the capital. Knowing your financial situation is key to determining how much money you spend each month and where you spend it. Knowing the total of your mandatory expenses (such as a mortgage, schools, supermarket, etc.), you can calculate with an estimate of the fee that you can assimilate. Also, analyze how much you spend on leisure and if you can reduce these costs. Try to leave a margin for the unforeseen. 

There are always unexpected expenses, so it is advisable to leave a monthly margin when that time comes. It does not matter if this margin is minimal since unforeseen events do not occur every day. This analysis is not easy, but you can find free applications that can help.

If you’re reading this, then the chances are that you need financing to either buy a car, make reforms, get married, or pay for your studies. The point is that whatever the reason for which you need money, you should keep in mind the following recommendations. Knowing these recommendations will help you choose more wisely and avoid wrong choices. Need a loan in Toronto? Get in touch with DLC Estate Mortgages INC today! Backed by a decade of experience in the mortgage universe, they’ll guide you through your loan processes and help you determine if now is the right time for you to refinance!

Whether it’s a financial emergency or getting out of a growing debt load, a personal loan can help in a broad range of ways. It’s the fastest way to get usable cash without having to hold valuable collateral. However, a personal loan is one of the most expensive forms of lending because no assets or banks will back it up. If not managed properly, a personal loan can do more harm than good. As a wise borrower, you should keep these ten elements in mind before applying for a personal loan.

Take a Closer Look at Your Finances

This advice applies not only to personal loans but to all types of borrowing. You should consider your current and future financial situation before taking out a loan. A personal loan may seem like the perfect solution for your financial emergency, but if it is not managed carefully, it can disrupt your finances. 

An EMI calculator is useful for this purpose. Simply enter the amount of your loan and the interest rate to find out the EMI you have to pay each month. Prepare a budget to find out your monthly expenses and savings. You need to ask yourself if the new EMI can fit into your monthly budget.

Is My Credit Score Good Enough?

Before you start applying for a personal loan, it’s crucial to know your credit rating to make sure you are eligible. Since assets do not secure a personal loan, credit criteria can be even stricter.

Unlike secured loans, where the value of your collateral becomes a fundamental factor in determining your credibility, a credit score is considered the most critical factor in personal loans. Your credit score shows your credibility as a borrower and helps the banks decide how much risk you represent for them. People with a good credit score are likely to obtain loans at a more competitive interest rate.

Ensure Your Loan Purpose Is Allowed

While personal loans are open and can be used for several purposes, not all lenders allow your loan to be used for just anything. For example, you may not be able to use your loan funds for expenses related to high school education or your business. Check with your lender to make sure that you can use your funds for whatever you need.

Determine the Amount Wisely

It’s never recommended to borrow more than you need. Analyse the purpose for which you need the loan and then calculate how much you will need. The bank may be willing to give you a more significant amount if they find that you’re more creditworthy. However, it is not advisable to exaggerate the amount. A more considerable amount means more debt and higher interest payments. So borrow only as much as you need.

What Are the Different Alternatives?

As mentioned earlier, the interest rate on personal loans is higher than the interest rate on loans secured by assets such as gold, property, a vehicle or anything else. The gold loan or complementary real estate loan can be attractive alternatives to personal loans at comparatively lower rates. 

The interest rate on personal loans can range from 16% to 24%. But if you opt for a supplementary home loan (if you have an outstanding home loan), you can get lower interest rates starting from 9.50%. You should explore the possibilities of secured loans if you are willing to give a property as collateral. 

Think About the Worst Case Scenario

Before signing on the dotted line, you should think about the impact it would have on your financial situation if you could not afford to pay your EMI on time. Defaulting on a loan not only results in an accumulation of debt on your head, but it also has a direct impact on your credit rating. A single missed payment can lower your credit rating, and a complete default would wreak havoc. It is, therefore, advisable to think about your future finances and act accordingly.

Have a Thorough Look at the Fine Print

Although banks are required to disclose all significant fees, you still need to read between the lines to see how this works best for you. There are several things to consider here, such as processing fees, the length of the loan, cancellation or foreclosure fees. These hidden fees, if not taken into account at the beginning, can catch you off guard later on. So read the terms and conditions; don’t rely on bank officials for full details. Do your research and make a wise choice.

Verify Your Details

Before hitting on “Submit”, check your request. Missing even minimal details could result in rejection. If a lender cannot verify your data, they will not be able to offer you a loan.

Should I Get a Personal Loan?

If you have a budget, a personal loan can be a smart way to finance a project or consolidate debt. Although a personal loan is not free – you’ll pay interest in addition to the principal – staggering payments could allow you to take a vacation or renovate your kitchen when you might not otherwise have the opportunity.

Before applying for a personal loan, ask yourself if your budget allows you to make regular monthly payments and if you are willing to spread them out over several years. Be sure to look for a reasonable interest rate and use a personal loan calculator to get an idea of how much you would pay each month. Need a personal loan for your business in Melbourne? Kingsley Finance is worth considering! They offer tailored personal loans to give your business the boost it needs to flourish.

Having fun and purchasing a home are two phrases that are rarely used in the same sentence. Buying a home is a major investment, and the process of securing a mortgage and negotiating a price is complicated. Most buyers are unaware of the confusing steps that are involved but don’t worry.

Step 1: Assess your finances

This step determines the buyer’s ability to afford a home. The buyer may want to consult a financial adviser as to the strategy he or she may employ in paying for a home. Assessing your finances is important, especially if the buyer has a troublesome credit history and other financial obligations. The buyer must also reach a compromise between payment capability and desired property.

Getting a letter of pre-approval shows the seller that you are serious about buying a home. This certificate assures the seller that you have have enough money to buy their property. Securing a Pre-Approved certificate would range from a few days to a few weeks, depending on the status of the request. It’s worth the trouble of waiting, especially if it increases your ability to reach a fair compromise on price.

Step 2: Survey the Market

With the explosion of information, it becomes more exciting to search for possible properties. Newspapers, advertisements, referrals, brochures, and even the internet all give the buyer more choices and better options. Buyers should take full advantage of this information glut to facilitate his or her decision regarding a house. Remember, real-estate agents search for new homes daily. Use this knowledge to find your “dream home.”

Step 3: Learn from Others

If the buyer is a first-timer, he or she does not have to make the common mistakes first-timers commit. He or she should contact people who have been in the same circumstance and learn from their experience.

Step 4: Find a Suitable Agent

Considered as one of the most underestimated yet important aspects of home buying. Most buyers end up with an agent by sheer accident. It would do well for the buyer to do research and contact an agent whose strategy and skills fit the buyer’s needs. Buying or selling a house is a thrilling experience. But connected to this is a stressing and overwhelming job. This calls for an excellent real estate agent.

Verifying the real estate agent’s license is very helpful. It pays to be very cautious because this involves the property! This includes their state license in selling a property. Ask for the previous homes sold for a client.

Develop good chemistry with your agent. An agent understands what is important to you when searching for a property, and when negotiating with the seller. The agent should be able to tell their client the true worth of the property. Meet with your agent frequently so they can keep you up to date about new properties. A skillful agent can save the buyer a great deal of trouble and is instrumental in a successful sale.

Ask friends and family who they have used in the past, and ask them if they would use the same agent again in future transactions. Trusting your agent will save the buyer from a great deal of grief later.

Step 5: Close the deal

A great deal of discussion and paperwork is in involved in closing a deal. However, if the preceding steps were accomplished well, this step will be taken care of. Here, the buyer and the seller come to terms with the financial details, paperwork, and other details vital to the sale. By properly planning and educating yourself, you will now be the proud owner of your dream home!

House shopping can be stressful, but implementing these tips can remove some of the roadblocks on your path to finding your dream home. How can you use these tips to make your search smoother? Ready to start your journey to your new home? Sunland Capital Mortgage has over 20-years experience helping people find a home they love. Contact them today to learn more!

For most people, buying a car usually makes more financial sense than leasing. However – if a lease turns out to be right for you, then you should be aware of the advantages it offers versus buying a car.

Lower Monthly Payments

Leasing a car usually results in monthly payments that are 30% – 60% lower versus buying a car. This allows you to drive a vehicle that you may not usually be able to afford, and this is perhaps the most significant advantage that leasing offers.

Substantial Flexibility

You can return the vehicle at the end of the contract period or you can buy it or extend the contract. Of course, you could also select a new car.

No Hassles with Used Cars

When your lease is over, you simply return the car to the leasing company. No more hassles trying to sell a used car – and the value of the vehicle at the end of the lease is not your problem. There are some cases where leasing companies overestimate the value of the car, which results in a lower lease payment for you and a loss for the leasing company.

No Repair Costs, Low Maintenance

If you follow my advice and only rent for 36 months or less, then the manufacturer’s bumper-to-bumper warranty generally covers you for the full term of your rental. You’ll never have to worry about significant repair costs, and in some cases, manufacturers also offer free maintenance for the first two years.

Drive The Newest Cars

Leasing allows you to drive a new car every 2 or 3 years, allowing you to benefit from the latest technological advances and safety features.

Tax Benefits

If you intend to use the car for your business, you can generally write off the entire lease payment as a tax deduction. And even if you don’t own a business, most states only tax you on the “use” portion of your lease, which means you don’t have to pay tax on the full price of the vehicle. This can save you a few hundred dollars compared to buying a car and paying taxes on the total amount.

A Greater Choice Of Vehicles

When you rent a car, you don’t have to worry about its reliability or quality because you only drive it for 2 or 3 years. Most cars will have no problems during that time, which allows you to choose vehicles that you won’t necessarily buy.

Ideal If You Are Accident-Prone

If you buy a car and destroy it, the insurance will pay for the damage, but when you sell the vehicle, you will suffer the consequences because of its “reduced value”. People are not willing to pay the same price for a damaged car. With leasing, if you destroy the car, insurance will still take care of it, but the diminished value is the leasing company’s problem, not yours.

Less Money Up Front

Many cars can be leased without a down payment (although there is always an up-front fee that can usually be built into the monthly payment). When you buy a car, you typically have to make a 20% down payment to get a decent car loan rate.

No Resale Risk

The leasing provider generally assumes the residual value risk in standard operating leases, which means that the lessor is responsible for remarketing the vehicle at the end of the lease. It is sufficient to return the car.

Includes GAP Coverage

Most rental contracts include free additional insurance, which will protect you in case of theft or destruction of the car during the term of the contract.

The rate of leasing vehicles has grown steadily over the last couple of years. Approximately 30% of new cars are leased. This is due to lower costs at the pump, which decreases your cost to own, and affordable monthly lease payments, which allows you to get more for your money.

Whether you opt for a larger car or a car with premium features, you are among those buyers who realize the benefits of leasing in today’s market. Be assured that leasing a vehicle almost guarantees you a lower monthly payment. Explore your options to make the best decision for you, your finances, and your car. Contact DLC Estate Mortgages INC today! With more than ten years of experience in mortgage services, they will guide you through the car-buying adventure and help you determine if now is the right time for you to refinance!

If you want to start a small business, but are having a hard time narrowing your list down to a single, successful business idea for your small town, don’t worry. We’ve got your back. We’ve also come up with the most promising potential small business ideas for you (thank us later!).

Coffee Shop and Bar

When you think of your neighbourhood coffee shop and bar, you might not think of the same establishment. But if your town is small enough, and clientele scarce, merging these two business ideas might be just what the mayor ordered.

Pet Grooming and Boarding

Pet Businesses are a $60 billion industry in the United States, so it just plain makes sense that a small town has at least one pet grooming or boarding facility or a combination of the two to tap into the potential. If you plan your business well, you can become the one-stop-shop for all things furry. And that translates to big profits.

Clothing Boutique

One of the primary amenities that small towns tend to lack is decent shopping. And we don’t just mean a large shopping mall. Often, those living in smaller cities and communities have to drive significant mileage just for basic clothing necessities. That’s why starting a clothing boutique will not only put you on the map but will make you a popular destination for most residents in the vicinity. You’ll pretty much be the mall substitute for all things teen-related. Just make sure to stay up-to-date on the latest trends. But they’ll let you know if you don’t!

Bakery

From your morning coffee to your kid’s birthday cake, neighbourhood bakeries can fill a vast number of potential small-town needs. Though owning and operating a bakery is hard work, if it’s your life-long dream to produce pastries for the masses, it’s a business idea that can be incredibly rewarding.

Food Truck

Opening up a taco or food truck might not have been first on your list of ideas for a successful small-town business. But depending on the location of your town, the seasonality of its residents, and the weather, starting a food truck business can be an excellent investment.

Restaurant

Every town, big or small, needs (and deserves) a few good restaurants. Your local pizza castle won’t suffice for all occasions and events. But much like owning a bakery, opening a restaurant is not something to go into half-heartedly. You need to be passionate and have the drive, and obsession of both a great entrepreneur and a chef (or at least a hard-core foodie). If you have that drive and experience, being a restaurateur can be a successful endeavour and a great business for a small town.

Organic & Healthy Food

There is one trend that has been sweeping the country for the better part of two decades: healthy food. Though what is considered healthy food has shifted and changed frequently over this period, the general concept of eating healthier to live longer and look your best is not going anywhere. Small town business idea, large town business idea, a health food store is a good idea wherever you reside.

Home Improvement

Are you the one all your friends call when their sink is clogged, or their roof is leaking? Are you looking to start your own business but not thrilled about having a brick-and-mortar location? A home improvement business might be just the small-town business idea you’re looking for.

Hair Salon/Barber Shop

Even Rapunzel needed a trim now and them. It’s one service that regardless of your age most people need a few (if not a few dozen) times a year. If you’re currently calculating the average number of women in your town and multiplying it by three, thinking that is the amount of business you will drum up yearly, you’re thinking too narrowly. Opening your own hair salon or beauty salon as a variety of additional services that go far beyond haircuts. Think colouring, nails, and makeup, just to name a few. And remember, men tend to get their hair cut at least once a month. And, if you’re covering up that grey, every six weeks sounds about right. Just make sure you have a solid business plan before opening up your small-town shop.

Need Help to Start Your Business?

Regardless of the business idea you choose for your small town, proper planning is essential to the success of the business. And since being a small business owner is both a major lifestyle and time commitment, make sure your choice is one you see, bringing you both profit and joy for the foreseeable future. Need a business loan to start your small business? Contact Kingsley Finance today! They offer unrivalled financing services to a wide range of commercial clients throughout Melbourne, Adelaide and Sydney.

Debt consolidation is one of the options people consider to address their outstanding debts. Combining all your credit cards and other debts into a single new loan can help you get on the path to becoming debt-free. One loan means a single debt payment to contend with every month, not a half dozen or more due at different times. Making one payment each month helps to streamline your debt repayment process and makes it less likely that you’ll forget a bill.

A good debt consolidation loan will also be issued at a lower interest rate than what you’re currently paying on other outstanding debts, too. This helps to eliminate the challenge many borrowers have with minimum payments on their credit cards, as paying the bare minimum each month does little to chip away at the card’s overall balance. The new loan’s lower interest rate reduces the interest expenses accrued on the outstanding debt over time, which decreases the rate at which the principal is building up.

When considering debt consolidation, one issue to worry about is how any new loan will affect your credit. Requesting a debt consolidation loan and taking on additional debt will almost certainly affect the way credit-reporting agencies view overall credit worthiness. The loan itself, and how you put it to use, can have an impact on your credit as well. This article looks at the impact debt consolidation loans can have on your financial situation to help determine whether a debt consolidation loan hurts or helps your credit.

The Debt Consolidation Loan Application

If you decide to obtain a debt consolidation loan, the first thing you’ll have to do is apply for one. When you do so, the lender will likely initiate a hard credit inquiry. A hard credit inquiry is a formal review of your credit rating. Each credit inquiry that’s performed can cause a slight decrease in your overall credit score, and multiple inquiries on your credit, or multiple loan rejections, can lower your credit score significantly.

If you’re concerned about the effects that applying for a debt consolidation loan may have on your credit, you can consider non-traditional lenders, too. Most peer-to-peer (P2P) platforms, which link prospective borrowers with private investors who are willing to lend them funds, don’t execute hard credit inquiries prior to issuing debt consolidation loans.

Making the Loan Payment

A debt consolidation loan will streamline the process for managing your debt. After combining all your old debts into the new loan, you’ll just have one payment to track and worry about each month. However, it’s still a payment, and you still have to make it. If you’re late on your debt consolidation loan payment, it could hurt your credit rating.

However, when considering debt consolidation, it’s important to note that payment history works both ways when it comes to credit. If you do consistently pay your debt consolidation loan on time, it can help improve a weak or average credit score. Many borrowers find that they become more consistent about making payments after consolidating their debts into a single loan, too. If you’re confident in your ability to repay a new loan and need something to help simplify all your monthly credit card payments, then a debt consolidation loan might be a good option for you and your situation.

Debt Consolidation Limits

Debt consolidation may be a good option to consolidate your credit card and store credit debts. However, what about debts such as student, automobile, and medical loans? In some cases, those debts may be substantial and extremely difficult to consolidate. If you have significant debt that you cannot roll into the loan with your credit cards, there’s a chance that debt consolidation will only have a modest impact on your credit.

If you have high levels of debt that cannot be consolidated, it may make sense to choose options other than debt consolidation. In some cases, borrowers can deal with debt more effectively by selecting a debt management option better suited to their situation. For example, many lenders have programs available to help borrowers consolidate complex student loans.

The Final Word

Debt consolidation is just a tool to manage your outstanding debt more effectively; it cannot solve your financial problems. If you don’t address the underlying reasons why you ended up in debt in the first place, whether counterproductive spending habits, living beyond your means, or having no budget, you could end up in a worse situation than when you started, and with worse credit, too. All borrowers have to be prepared to change some financial habits when they decide to address all their outstanding debts.

Before you decide to take out a debt consolidation loan, you should talk to a trusted financial advisor like Grange Finance Pty Ltd, who will analyze your debt situation and help you make the best decisions about how to deal with all your outstanding debts without destroying your credit rating in the process.

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