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Jason Obrien

How to Choose the Best Bad Credit Loan Company

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If you’re looking for a bad credit loan, many lenders offer loans to people with bad credit, but not all of them are created equal. Some companies are much better than others when helping borrowers with poor credit scores. Here are a few tips for choosing the best bad credit loan company:

Eligibility Requirements

Loans for bad credit can be hard to come by. It can be even more difficult to find a loan company willing to work with you if you have bad credit. That’s why it’s important to know the eligibility requirements of each loan company before you apply. You can narrow down your options and choose the best company for your needs.

Each loan company has different eligibility requirements, so it’s important to do your research before applying. However, some common requirements include a minimum credit score, proof of income, and a down payment.

If you meet all of the requirements, you’re likely to be approved for the loan. If you don’t, then you may need to look elsewhere. Loans for bad credit are out there, but you have to be willing to do your research to find the right one for you.

using ATM card

Interest Rates and Fees

Most companies will charge higher interest rates and fees for borrowers with bad credit, as these loans are considered to be high risk. However, some companies are better than others when charging high-interest rates and fees. If you’re looking for a bad credit loan, compare each company’s interest rates and fees. You can use a loan calculator to compare the total cost of each loan; the lower the interest rate and fees, the better.

Reputation

When it comes to bad credit loans, there are many companies that claim to offer the best loans for people with bad credit. That’s why it’s important to do your research and only choose a company that has a good reputation.

The best way to find out about a company’s reputation is to read online reviews. See what other people have said about their experience with the company. If you see many positive reviews, that’s a good sign that the company is reputable and worth doing business with. On the other hand, if you see many negative reviews, you should avoid that company.

Repayment Terms

You want to make sure that you can afford the monthly payments and that the loan term is reasonable. Another thing to consider is the fees and interest rates. Some bad credit loan companies charge higher fees and interest rates than others.

You want to make sure that you understand all of the fees before agreeing to anything. Finally, you want to make sure that the company is reputable and that you can trust them with your personal information.

There are many scams out there, so you want to be sure that you are dealing with a legitimate company. By doing your research and taking your time, you can find the best bad credit loan company for your needs.

Bad credit loans can be a lifesaver when you’re in a financial bind, but it’s important to research and choose the right company for you. Compare rates, read reviews, and ask questions until you feel confident about your decision.

Eight Valuable Skills You Need as a Construction Contractor

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Are you considering a job in the construction industry? The industry is known for high job satisfaction, and for being tailored toward those looking to make lifelong careers for themselves. However, before taking advantage of the opportunities the construction industry provides, there are some essential skills you’ll need under your belt to score jobs (in addition to licenses and certifications which will differ wildly depending on where you live). To get you started, here are eight valuable skills you need as a construction contractor:

female construction manager

1. Hand-Eye Coordination and Dexterity

Having an excellent grasp over your limbs, and your ability to use them with finesse and precision is key to being a successful construction contractor. Hand-eye coordination helps prevent mistakes, ensures precision, and helps prevent accidents on the job site. Without a strong grasp of how to properly line up a nail and hammer, after all, you’ll be having a hard time getting by day to day on a construction job site. 

2. Knowledge of Power Tools

For the majority of construction workers, some type of power tool or advanced-level tool is needed to complete their tasks. If you’re not already familiar with these tools, studying up on them and getting practicing for the exam before and looking for work is crucial. The more knowledge you have in this area, the better, as these tools can help you perform a job to the best of your ability (a quality that will help you retain excellent, well-paying jobs).

3. Excellent Reading and Math Skills

People often forget just how much math and reading are involved in construction contracting. Physical strength and the ability to work long hours will not matter if you do not understand how to properly carry out instructions. Those instructions will often have measurements and other specifications that will require a strong grasp of both math and reading skills to execute, so if you’re lacking in this area, you’ll need to do some extra studying before going to get your certifications.

4. Memorization Talent

There are always a lot of tasks that need to be carried out on construction sites at any given time. When you’re given tasks and instructions, your ability to remember them without needing constant reminders and additional instruction is key to keeping the job going smoothly. There’s no way to get on your manager’s nerves faster than slowing operations down due to a bad memory, or a lack of dedication to keeping your instructions firmly in the front of your mind, after all.

5. Communication Skills

Teamwork is one of the most important skills you can bring to the construction site, and communication skills will be crucial for you to work with a team. Knowing how to take and give out information and instructions adequately will help you climb the ladder in the industry effectively as well. Whether it’s verbal or written, knowing how to communicate in a professional, efficient, and clearly-stated manner is a must for any professional construction worker.

6. Drone Flight Abilities

Drone technology is becoming more and more integrated into construction workers’ day-to-day tasks. Especially on large, commercial construction sites, drones allow you to see your site from useful, previously unavailable angles. This additional information can help keep the job going smoothly and will improve the quality of the project overall. If you already know how to pilot a drone, the skill can be used to help you gain jobs in the construction industry, where even seasoned workers might not have had the time to develop this newly-in-demand skill.

7. Problem Solving and Critical Thinking Skills

Instructions that you’ll be following on a construction site will not always be detailed in a step-by-step, 100% set out for you manner. When you are between moments where you can talk to a manager, having the problem-solving and critical thinking skills needed to keep work moving is crucial. Many unplanned problems and issues will arise during each contract you take on as well, so strong critical thinking and problem-solving skills will ensure you’re able to overcome them effectively.

8. Physical Strength and Endurance

Even if you have a skill set that includes all of the other qualities above, it can be difficult to work effectively as a construction contractor without physical strength and endurance. While there are jobs that can be done by those who are not blessed in this area, the majority of construction contractors will need to exert themselves in a fairly intense manner on a near-daily basis to do their jobs.

Your Future Career Awaits You

With these eight skills under your belt, you’ll be a dream hire for many construction industry employers. Even if you cannot manage each of these eight skills, having even half of them will ensure you’re highly employable. With the right grit and determination, you can kickstart your career in construction by the end of 2020.

Top 5 Questions Retired Folks Should Ask Themselves Prior to Starting a Second Career as a Freelance Writer

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Like millions of other hard-working Americans who’ve been toiling in the workforce for decades, you’re probably looking forward to that day you turn 62 and can finally retire. You’re not just retiring from your long-time job, mind you, but from the exhausting rat race. Now you can relax and enjoy the fruits of your labor. You can travel!

But despite the best intentions, too many people were so busy working and raising families that they forgot to save enough money for retirement. When this happens, you’re usually looking at two choices. Either stay at your old job (until they politely ask you to leave) or find another job altogether. While neither of these options feels appealing to you, there is one fully legitimate financial option for making up for a less than stellar retirement account.

It’s called a reverse mortgage. If you’ve owned your family home for decades and have religiously paid your monthly mortgage payments, a reverse mortgage will allow you to tap into all that equity you’ve been building up for years.

You can take your proceeds in one lump sum, or you can take monthly disbursements. The best part is you never need to pay another mortgage payment again. You can see how much you’ll be able to qualify for by using a reverse mortgage calculator: https://reverse.mortgage/calculator.

But what if you haven’t lived in your home for very long or have been living in an apartment? While getting another full or part-time job outside the home is a non-starter, you might want to take a look at freelance writing.

It turns out that many retired people who have a knack for putting words, sentences, and paragraphs together are not only turning to freelance writing as a part-time and even full-time gig, they are making good money from it. What’s more, they can do it from anywhere in the world. 

If you’ve been dreaming of becoming a freelance writer, your retirement years could be the perfect time to begin. If you happen to be new to freelance life, however, you might have a whole bunch of questions about how professional writing works. Here are the top 5 questions you need to ask yourself before you type your first word. 

Am I a Good Enough Writer?

Whether or not you are a good enough writer to get paid for your words is the most “common question” newbie freelance writers ask. The answer is said to lie in improvement. In other words, as long as you are willing to learn and improve your craft, there’s no reason why you can’t expect to be a professional.

Even Hemingway (a one-time freelance reporter) wasn’t born a great writer, and neither were you. You just have to be willing to learn.

What Kinds of Jobs Should I go After?

You should plan on writing whatever you like. That said, if you’re new to the writing game, you might want to stick to topics you’re knowledgeable about. If you were a construction project manager in a previous career, you might want to write about building and design topics for a while.

Sooner than later, you will want to learn how to write about new topics. Eventually, you should possess the talent to write about anything, no matter how dull. The trick is making a mundane object, such as a teabag, appear interesting with your words.

How Often Will I Be Writing?

If you plan on being a serious writer in retirement, you can expect to write every day. Full stop. Writing is a craft that must be learned. You only get better with practice. Even if you haven’t been handed an assignment, you should be developing your own story ideas.

The best idea is to get up in the morning, sit down at your laptop with a cup of coffee, and “put in the word count.” 

How do I get Noticed?

When you’re a newbie, you will all too often feel that nobody is giving your work a chance, much less paying attention to it. But there are online tools out there to help you gain much-needed visibility.

For instance, you can start a WordPress blog or a Medium account and write free content on a daily basis. After a time, your work will be good enough that you will gain a decent-sized following. You can share your content via social media links like Facebook and Twitter.

But keep in mind, you’re in this to make money. That means writing for free will eventually become just one of the tools in your freelance writer’s toolbox for marketing yourself and your writing.

Set up a profile and take advantage of online platforms like LinkedIn to show off your talents and land paying gigs. If you’re planning on writing fiction, you can take advantage of Amazon’s Kindle Direct Publishing Platform. You can even make a lot of money writing erotica if you so choose. Which begs the question.

How Much Money Will I Make?

Making money

In a word, it depends. A few factors come into play such as how much experience you have, the kind of writing you are doing, plus the amount of time (and energy) you’re willing to put into it.

Experts say that when you’re just starting out, you will want to consider freelance writing as a way to supplement your retirement account. However, as you progress and get more experience under your belt, you will begin to see lucrative paydays. This is especially true if you expand your talents to writing journalism, nonfiction, and fiction.

You might make small amounts with each publication, but by the end of the month, those small amounts add up to a very nice payday. What’s more, you can write from any destination in the world, be it a sandy beach in Tulum, or at a coffeehouse in Istanbul. 

Top 4 Mortgage Options For Veterans

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Buying a home is a significant chapter in anyone’s life. The whole process can bring both excitement and stress, even to service members and their families. But members of the military may face unique challenges that can make securing a mortgage loan difficult. Luckily, this feature will explore various options for veterans.

Primarily, VA loans were made for veterans, servicemen, and surviving spouses. But there are other loans such as FHA, USDA, and conventional loans for retired soldiers to check out for their property financing needs. They’re included here as alternatives in case VA mortgage loans don’t fit into the situation of one service personnel applicant. You can inquire at reputable lenders similar to SecurityAmericaMortgage.com for more information and to see what type of home loan’s a perfect fit for your situation.

Mortgage Loans Available For Veterans

Are you a United States (U.S.) service personnel? Or do you happen to be a partner of a loved one that’s currently serving in the military? Continue reading below to learn more about the possible mortgage options that are available for veterans.

VA Loans

If there’s a mortgage option specifically for those in the military service, it’s VA loans. It’s one of the benefits of serving in the military. VA loans are both available for veterans and active military service personnel if they qualify and meet a number of requirements set by the loan. Surviving spouses and national security employees can also apply for the VA loan.

VA Loans

VA loans are available through a program established by the U.S. Department of Veterans Affairs. VA loans allow veterans to buy homes with little down payment or none and a competitive interest rate. They can do so without any private mortgage insurance too.

There are different types of VA loans:

Cash-Out Refinance Loans

Cash-out refinances loan is a type of VA loan that allows applicants to borrow against equity. They can use the money to improve homes, pay off debt, and fund education. It opens a new mortgage for a more significant amount and converts home equity into cash.

Home Purchase Loans

This loan assists a veteran in purchasing a home with a lower interest rate. It doesn’t require mortgage insurance or a down payment.

Interest Rate Reduction Refinance Loan

Known also as a VA streamline refinance loan, it offers a lower interest rate through refinancing an existing loan with a fixed-rate term. Holders can also turn a formerly adjustable-rate mortgage loan interest into a fixed-rate agreement.

Native American Direct Loan

A loan applicable to eligible Native American veterans allows them access to funding for the construction, purchase, or to make home improvements in homes sitting on federal trust land.

While VA loans are designed for veterans, there are other types of mortgage loans available to them if they decide to look for alternatives. The following are other mortgage loans that veterans can turn to.

FHA Mortgage Loan

Another reason to choose FHA loans over other options is that they are similar to VA mortgages supported by the government (particularly the Federal Housing Administration) and have lower interest rates. And like VA loans, they don’t allow penalties even if you could pay off the loan earlier.

FHA Streamline Refinance

This type of mortgage loan includes the FHA Streamline Refinance alternative. It works by helping qualified borrowers pay monthly mortgage payments by lowering the interest rates. It’s a quick and simplified process that sometimes allows borrowers to skip appraisal before closing.

If you want to apply for FHA Streamline Refinance, here are the advantages you can expect from this loan:

  • It’s a chance to refinance despite owing more than the value of your home, which is also known as an underwater mortgage. The amount you receive is based on the outstanding balance, so you can still use streamline refinance even if your home value has declined.
    • You can lower your monthly payment. FHA has strict guidelines that borrowers must follow to secure a loan. One of them is that you can’t extend the loan to 12 years. The interest rate must also be reduced when extending the loan to lower payment. But one exception to the rule is if your mortgage is originally an adjustable-rate mortgage.
    • You can avoid a home appraisal. While an assessment is a way to determine the fair market value, FHA Streamline Refinance doesn’t need it because the loan amount is determined by what you own and not the current home value.
    • Credit checking and paperwork are limited. There are two types of Streamline Refinances. The first is credit qualifying – which requires you to submit income documentation for the lender to check. The second is non-credit qualifying, where the lender checks your credit score.

USDA Loans

If you prefer a loan type that doesn’t require you to put down money first, you can opt to apply for a USDA mortgage loan instead. Like VA, it’s also backed by the US government via the Department of Agriculture and has lower interest rates. The following are some basic rules that apply to government mortgages:

  • The loan shouldn’t be used to purchase investment property;
  • Occupancy is required; and
  • It’s required to have a demonstration of need.

Nevertheless, USDA isn’t for everybody.

The loan type has limitations on household earnings and income caps. The property for purchase must also be in an approved rural location. You’d be happy to know that areas approved by the USDA can be found in most places across the country.

To see if a property is in an eligible area, you can head to the official USDA website and click on the program links. Choose the Property Eligibility Program link. Selecting the Rural Development Program will direct you to the property eligibility screen for your preferred Rural Development program.

Understand that the maximum loan amount might be lower than the loan limits of the VA mortgage though. Yet USDA loans are still a worthwhile option you should look into.

Conventional Loan

Conventional Loans

There’s a conventional loan type that is similar to VA mortgages. It’s a mortgage loan that isn’t known to many veterans but one they can turn to for property purchases.

While it’s not officially a part of the VA loan program, it’s meant to function similarly to a VA loan. An excellent example of this home loan is a military members’ credit union home loan. You don’t have to put up a down payment with this loan. It has a fixed interest rate, and the lender pays private mortgage insurance.

The state doesn’t get involved with the Navy Federal Loan even if the features are available through the VA mortgage loan. A veteran applicant doesn’t use the VA mortgage entitlement. They can still apply for a loan with similar features and terms to the VA loan.

Conclusion

Veterans have a few alternatives to VA loans that they can explore. Different people have different needs and situations, making these options ideal for them. Those who want to apply for a mortgage must understand each loan type before proceeding. It’ll help them choose the best option for them while saving time and money.

Crypto Wallet vs Exchange: Which is the Better Option?

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What is the difference between an exchange and a crypto wallet? Is differentiating the two a challenge? Let’s find out!

Many are the people who are worried about storing their cryptos after buying or mining them. If you are wondering which one to select between a crypto wallet and exchange, we have the answer for you. Crypto wallets are designed to help users safely store and access their coins. On the other hand, exchanges are designed to help make buying and selling cryptos easy. 

So, here is a closer look at crypto wallet vs exchange to help you make the big decision. 

What is a Cryptocurrency Wallet? 

This is a software or hardware that allows users to store their digital assets, such as cryptos and non-fungible tokens (NFTs). The wallets come with private keys or master passwords that provide users with access to their coins. If you lose the private keys, it means that the coins are lost. 

With the private keys, you can also check your balance, receive, and send your crypto coins. The wallet also comes with a public key, which serves as the main address. This means that if someone wants to send you some coins, what you provide is the public address/keys. 

How To Safely Store Your Bitcoin? – Everything That You Need To Know About

The Main Types of Crypto Wallets

Crypto wallets are many and are designed to serve different purposes. To establish the best wallet for your coins, here are the main categories that you need to know about: 

  • Hardware wallets: Also referred to as cold wallets, hardware wallets are designed to store cryptos completely offline or away from the internet. They are considered the most secure options for storing cryptos. 
  • Paper wallet: Information about your private and public keys is printed on paper and then stored safely. To use this wallet, you must have internet access.
  • Online wallet/ hot wallets: With this type of wallet, the private keys are stored in an online application. Because they are always online, the risk of hacking is very high and you should enable 2-factor authentication for enhanced security.

What is a Crypto Exchange?

You can liken a crypto exchange to a stockbroker. It is a service that offers users tools to buy or sell their digital assets. They also provide advanced features and charge users low transaction charges. 

Some good examples of exchanges include Coinbase and Kraken. The exchanges are also referred to as centralized exchanges (CEX), which means that they are private. When you use the exchanges, you have to create an account that also serves as a wallet for the crypto coins you buy. It is the exchanges that control the private keys and not you.

Decentralized exchanges (DEX) are peer-to-peer platforms that allow users to interact without central management the way it happens with centralized exchanges (CEX). As a result, users are in full control over their private keys. There is total anonymity when using CEX. 

One of the top decentralized exchanges is HiCoins. With only a few coins, you are able to exchange your coins for hi Dollars at a very small fee. Here are some of the main factors to consider when selecting an exchange:  

  • Should support the most popular coins. 
  • Affordable transaction fees. 
  • Multiple withdrawal options. 
  • Top-notch security. 
  • Should have a high trading volume. This is very important for those looking forward to trading cryptos. 

Crypto Wallet vs Exchange: Which One Should You Use?

If you plan to buy and sell your coins, there is no need to keep them in a crypto wallet. An exchange will be a better option. However, storing the coins in exchange is highly risky, and it is a good idea to move them to your crypto wallet after trading.

Get Hi Wallet and Start Earning hi Dollars

hi has simplified the process of buying and trading hi Dollars, offering multiple options for all clients. You can opt to swap hi Dollars on DEX or via CEX and receive the targeted coins through hi wallet. hi wallet is the simplest model to use. All that you need to do is install the hi app, create an account and verify it.

Top 6 SAFe® Certification to Pursue in 2022

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Implementing agile, especially in a large organization can be a tricky job. However, SAFe® is such a framework that has been a savior in these scenarios, leaving the maximum space for the growth of an individual to the entire organization. Thus, whether you’re starting up your career or are a seasoned employee, there are always options for you to get better and heavy you’re resume. And if you’re an ambition-hungry individual, this article’s here to help you out. Here are the top 6 SAFe® Certifications that’ll help boost your career in 2022.

Impact Recorders Saves Time And Money

SAFe® Agilist 5.0 Certification

There’s hardly a better certification that can help you in incorporating Agile unto yourself than this one. Not only does it prepare you to strive in the market, but also opens up plenty of employment opportunities in the IT and business sectors. Take charge of your career and business with this SAFe® Agilist Certification.

SAFe® for Teams

This is a beginner course, but if you’re just starting in the world of Agile, this certification will fix you right up in a SAFe® environment. If you want to become an attractive hire for companies implementing SAFe®, or if your current organization has turned to this route, the SAFe® for Teams can help you become a prized employee.

SAFe® POPM Certification

Another extremely attractive beginner SAFe® certification, the SAFe® POPM certification is ideal for you if you’re aiming at filling the Product Manager/ Owner positions. You can not only become a prized employee for the organization but also help in actively steering it in successful SAFe® implementation and ascertain its future for success.

SAFe® Advanced Scrum Master

Although this certification is ideal for the ones who have already entered the field in a SAFe® environment. If you’re starting up you can always begin with the SAFe® Scrum Master certification and then scale up. For anyone who wants to have an in-depth understanding of the SAFe® environment and become a core individual in the ecosystem, this certification is what you need. 

Implementing SAFe®

Optimum for today’s change leaders, Implementing SAFe® is also a certification best for seasoned SAFe® employees. But if you want to help instill business agility into your enterprise, and help bring about transformation and growth from the very peak, this is just the certification for you. This course will help enlighten you and provide in-depth training and education on every layer of SAFe® transformation in an organization.

Agile Software Engineering

If you want to focus and help boost the technical aspect of agility in your enterprise, the Agile Software Engineering certification will help you here. Another advanced level of certification, this course focuses on building software engineers into Agile engineers who help in the consistent delivery of value and in supporting the technical infrastructure in a company.

SAFe® can open up plenty of opportunities for anyone who wants to take it. Assess your current position in the industry and evaluate which of these top SAFe® certifications can be the most helpful to you.

Good luck!

Buying A Solar Charge Controller? Look for These 5 Features

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We are living in an era where more and more private and commercial establishments are resorting to solar energy to meet their energy requirements. And if you are also planning to switch to solar power, you know solar charge controllers are an integral part of the solar power system.

The main role of solar charge controllers is to regulate battery power entering the battery banks from the solar panel. It prevents deep cycle batteries from overcharging during the day and prevents the battery from running out at night.

Additionally, solar charge controllers are now a necessary element in the solar setup, as they provide an extra safety net for your appliances by controlling overheating issues. So, if you want to help the environment and fulfill your energy experiments while ensuring maximum safety, a solar charge controller can offer you the best of both worlds.

However, choosing a solar charge controller can be complicated, especially for those who are not aware of the technicalities of solar power setups. Thus, this article is here to help you out!

Solar Panels on the Roof

5 Features to Consider While Buying Solar Charge Controllers

1. Technology Type

Solar charge controllers come in two kinds of technologies: PWM and MPPT solar charge controllers.

Pulse Width Modulation Solar Controller (PMW): This type of solar charge controller works by creating a direct connection between the solar panel and battery bank, thereby modifying the current according to charging requirements.

Maximum Power Point Tracking (MPPT): This type of solar charge controller works when the voltage from the photovoltaic module diminishes with a corresponding increase in current. The solar charge then adjusts it according to the requirement.

The only difference between the two technologies is efficiency and commonality. While MPPT is a relatively new and highly efficient technology, PMW has been in the market for quite a while. Ergo, it’s tried and tested.

2. Wattage of the Solar Panels

Solar charge controllers can be picked according to your energy requirements. If you are looking to operate appliances such as air conditioners, you can pick a solar panel with a capacity ranging between 330-350 Watts.

3. Suitability

Solar charge controllers can be chosen as per requirement and suitability. If you are installing a solar power system for a commercial establishment that has greater energy requirements, you can go for an MPPT solar charge controller.

At the same time, you can go for PMW technology if you have basic requirements like that of a household.

4. Efficiency

Efficiency is an important factor, regardless of the appliance you are looking for. Efficiency depends on the type of technology and the product quality. MPPT solar charge controllers are relatively more efficient than PMW technology. However, PMW solar charge controllers are efficient as well, given that the energy requirement is light.

5. LCD Display

LCD displays are much more convenient as they make monitoring easy. You can monitor load, voltage, battery capacity, and a lot more depending on the product you choose. Solar charge controllers with LCD are a lot safer as they can warn you about various issues.

A solar charge controller safeguards your appliances and property by regulating the battery charge – regardless of the type. You can buy the right solar charge controller depending on the features listed above and your budget.

However, no matter which solar charge controller you choose, ensure that you buy them from renowned and trustworthy brands, such as Luminous. Luminous has been a leading brand when it comes to inverters, inverter batteries, solar charge controllers, and other solar products.

Things to Keep In Mind When Choosing Your Next Forex Broker

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New regulations are coming out around the world on forex trading. Because of this, traders are always looking for new brokers. For example, in the United States, you can only have a 1:30 leveraged account. That is why many traders in the country decide to go with an offshore broker.

Many traders in the United States, for example, preferred to go to Australia because the leverage is much higher there. For example, Blueberry Market was a preferred broker for a long time. However, regulations are now changing in Australia, so people are looking to move again.

While the main thing when choosing a broker is to stay in profit, you want one that you can trust with your money. It would be highly unfortunate if you were to invest all of that time choosing a broker, only to lose it all to a scam. Do you want to know how to avoid forex broker scams? Payback has a nice brief on things you need to be on the lookout for. Read on to find out how to avoid them in the first place by choosing the right broker.

choosing forex broker

Maintaining a Profit

One of the main criteria for selecting a broker is always being in the money. To be profitable in forex trading, you need to have low spreads. Spreads mean that the selling and buying prices at any given period of the traded currency need to be very close to each other, so the price doesn’t get out of that range by a lot for you to make profits. The recommended spread should not be more than 1 pip. A 1 pip spread across the range of currencies traded on the platform will be preferable.

Low Commissions

You need to be very wary of the commission your broker is charging you. What is your broker deducting you every time you put in a trade? Remember, whether you profit from the trade or you lose the trade, your broker stands to make a profit. For example, something near $0.07 for every 0.02 lot size is a fair brokerage amount.

Some brokers offer free trading. i.e., they will not charge any platform-related brokerage for your trades. It sounds very good on paper, but there is a catch. The platforms that give you free brokerage tend to have very large spreads. Their spreads might go all the way up to 5 pips, and you end up losing a lot more in every trade.

The Preferred Trading Marketplace

Most people that trade in Forex also like to trade in indices or cryptocurrencies. The broker that you choose needs to be able to perform all the types of trading that you are interested in. For example, you like to trade in Dogecoin. You can also like to trade the US 30 index, and the main forex currency pair that you trade is the USD: GBP. If your broker does not let you trade in all three, you should look elsewhere.

Put the Broker to the Test!

Before you finalize on a broker, be sure to test them out. Almost every legitimate broker out there will allow you to create a demo account. Once you open a demo account, you can see the spreads in detail as well as the commissions. Don’t just go by the spreads and commissions displayed in the sales pitch. Monitor every currency pair and make a few trades over the next few days to see if there are any hidden charges.

One of the most important things to test out is their customer service. You will surely have some questions about the platform during trading. Contact their customer support and see what response time they have. Also, see how they deal with your follow-up questions. The one thing you can’t test with a demo account is whether you can easily withdraw your funds. Do a Google search to see what customers’ experiences have been with the platform.

Finally, a fine point you need to keep in mind is the contract and position size that your broker offers. It will be clear as soon as you start using the demo account.

Keep all of these points in mind as you look at different brokers. Take your time with the demo account tests. It is better to spend a few weeks choosing the right broker than to spend a few months trying to recuperate from trading losses.

Why Small Business Owners Need Financial Advisors

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Often, small business owners are reluctant to seek professional financial services from experts. The reason may be that their income is still too low to afford such services.

However, the truth is that you don’t need an in-house expert who might inflate your salary expenses. On the contrary, you can work with a financial officer from a managed service company to provide an expert opinion concerning the economic wellbeing of your small business.

There are various services that you can get from financial advisors in the United States (US). A financial advisor in Phoenix or in your state can help you manage your finances well, understand the tax system in your city, or develop clear and attainable financial goals for your small business.

If you’re wondering why you should hire a financial advisor for your business, here are some fundamental reasons for you:

Expert Budgeting

A financial advisor is an individual who can critically assess the financial strength of your small business. They can also help you develop a budget that’s proportional to your small business, whether it’s a sole proprietorship, partnership, limited liability company, corporation, or cooperative.

To ensure continuity and growth for your small business, you need to understand the principles and strategies of managing revenues and expenses in your daily operations. In addition, you need to keep track of your normal ebbs and flows, budget and anticipate unexpected events, and forecast your ideal future business.

A reputable financial advisor can provide you with the necessary education during your budgeting process. Moreover, they can tell you the appropriate initial budget you can work with from your financial accounts.

Expert Budgeting

On top of that, a financial advisor can keep track of how your budget is performing. From the prevailing situations in the execution of your budget, you can also receive suggestions on necessary amendments that you can make to your budget in order to accommodate unexpected events. A budget is tentative and not permanent. It can change along the way.

Ensure that your financial advisor is actively involved from day one of your budgeting process. Let them work hand in hand with your accountants and business attorney to guarantee a viable budget for your business.

Advice On Employee Retention

Every business is guaranteed success with the right employees. Besides, competent and qualified workers are somehow challenging to get. The competition for outstanding employees in the market is escalating at an alarming rate. As a result, you need the wisdom of a financial advisor to keep your workers satisfied and loyal to your business.

Making your employees happy will require more than their monthly salary to sustain their loyalty. Even if your business isn’t as big as your competitors’, you can excel in making your employees comfortable in your enterprise.

Thus, you need a financial advisor to give you suggestions on employee compensation according to their qualifications. An employee would be at peace if their academic qualifications were considered when determining their salary.

In addition, your employees need to be given benefit plans and insurance policies covering their health or education for their children. Your financial advisor can also suggest that you provide a unique insurance policy to your key staff members.

Moreover, you can enhance your perks such as paid leave days, remote working schemes, and flexible working schedules. Having done that, you’re likely to improve the output of your employees.

Drafting Retirement Plans

There are several retirement plans that your business can adopt for your employees. Thus, by partnering with an expert financial advisor, you can draft a strategy that aligns with your business goals and objectives as a business owner. Moreover, as your business grows, you may consider making better retirement plans for your employees.

Your employees can’t work all their lives because their retirement age will catch up with you. This is a critical time for them. What their retirement package will look like can be a matter of great concern to your employees.

On the other hand, if they foresee hope in their retirement while working for your business, they’re likely to dedicate a lifetime to working for you. However, if their retirement future seems to hang in the balance, they might look for better working environments. It would be a significant loss to have employees leave when it’s possible to offer a good retirement benefit.

Depending on the kind of retirement plan you have for your employees, they can plan for their future effectively. However, a financial advisor should guide the whole process to ensure that there’s a balance between your expenditure and revenues.

Planning Business Succession

After leading your business for some time, the time will come when you’re ready to exit the leadership of your business. You may leave the work of overseeing your business to your son or daughter and take a back seat.

In such a case, it would be prudent to plan the succession of your business early to ensure a seamless transfer of leadership. Grooming your would-be successor is essential if you want to ensure business continuity.

In such a scenario, a financial advisor comes in handy to draft a plan for you. It’s not a quick procedure, and it could take you a few years to develop a succession plan. However, your advisor can help you identify a suitable successor among your children and get them ready to take charge in the future.

Your financial advisor, together with a lawyer, can also establish a purchase agreement if your successor would like to sell the business in the future. In addition, they can also conduct a business valuation with an accountant.

Thus, a financial advisor should be the central person who pulls all the parties involved together and spearheads your succession plan according to your vision and goals.

people working together at an office

To Leverage Expertise

In most cases, business owners lack financial expertise where financial matters are concerned. As a result, making sound financial decisions might be a challenge. To take control of your business finances, you can hire an expert financial advisor to help you save time and avoid expensive financial mistakes.

On the other hand, if you make critical financial decisions without the necessary knowledge, you indeed deny your business the advantage of expertise.

If you run into a complex financial dilemma, it’s the work of your financial advisor to look into your business financial position and offer a feasible solution to your woes. For example, an experienced financial advisor may recommend that you develop accounting processes that can monitor your expenses.

Having a small business means exercising a high level of caution to avoid possible errors that can result in bankruptcy. You can bypass stages that have limited other firms by having a financial advisor.

Procuring Business Loans

There are many reasons why you’ll need a business loan. A financial advisor will look at the interest rate attached, the time given to repay the loan, your business’s revenues, and other unseen costs.

For instance, your business could be getting a lot of orders for your products. However, you may be straining the available production resources to ensure that you meet the market demand. In such a case, you’ll need to acquire more resources, like machinery, that boost your production capacity. You’ll also need to build additional warehouses or manufacturing centers.

In addition, you might need a loan to expand your business market reach. It might be in the form of creating business branches in other regions after your brand has grown. Under the two given scenarios that warrant a loan, it’d be the work of your financial advisor to guide you to the best loans for your business.

In addition, when repaying your loans, your financial advisor can recommend renegotiation of a loan repayment policy for the wellbeing of your business. For instance, if your company has positively picked up after expansion adjustments, you can pay bigger premiums to finish loan repayment quickly and avoid paying significant interest.

On the contrary, if your business is experiencing a challenge after taking a loan, you can renegotiate the terms of repaying your loans to ensure that you don’t direct all your revenues to settle your debts. It’ll ensure that your business remains afloat as you clear your loan.

Advise On Tax Obligations

To operate a business, you need to be aware that you must surrender taxes to the local authorities. A financial advisor will ensure that your business is compliant with the tax system in your state or country. In addition, they’ll ensure that you file the right amount to protect your business from penalties due to under remittance of tax dues.

If you want to open new branches, a financial advisor will give you good advice on where you can consider investing: a place where the tax system is favorable for your business.

Final Thoughts

Financial diligence for your business is a matter you have to take seriously. As a result, it becomes imperative to hire a financial advisor, especially for business owners with no financial background. Such a step comes with many benefits, as outlined in this article. For more information, you can search and read materials online.

Year-End Accounting: 7 Things To Know

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The end of the year is a time when most organizations close their books. Despite being critical to every business, preparing a year-end account can be an intimidating process.

However, this article will show you 7 essential pieces of information that’ll help you take control of your year-end accounting process and prepare you for the new year.

Hiring Tax Accountant Services Is Critical

While your in-house accounting department can do your year-end accounting, you can be assured of a more effective outcome when engaging with tax accountant services. Hiring accounting professionals will free up your time, allowing you to perform other relevant tasks.

The valuable insights these professionals offer can also help guide your business plans and enable you to make more strategic financial decisions. Additionally, having a fresh eye to audit your taxes can help you gain an objective view of your performance. Therefore, you can proactively streamline your systems to maximize profits.

End of the year certificate

Your Financial Statements Are Crucial

Financial records play a significant role during the compilation and analysis of year-end statements. Your financial statements can be regarded as your business’ lifeline. They give you a synopsis of your financial state by revealing your past and current finances.

Through your statements, you can also forecast a financial future for your business. Critical financial statements include your income statement, cash flow statement, and balance sheet. To have proper year-end accounting, you should ensure these statements are well prepared and readily available for each of your financial activities across the year.

Past Due Invoices Are Still Relevant

When preparing your year-end account, you should try to retrieve outstanding debts that your customers owe your business. Doing this might be challenging when past invoices are not available. However, having them handy lets you discover debtors after a brief cursory search.

With a simple invoice reminder, you can get some customers to settle their bills. However, others may require more effort to yield to your demands. The goal here is to ensure you don’t leave your money in the pockets of customers who have received your services. Getting your money back will help your accounting process be more comprehensive and further increase your financial strength for the new fiscal year. 

Your Business Receipts Should Be Well Organized

If you’ve not given much attention to your business receipts, you may need to think twice regarding this, because receipts are essential business documents and must be tidied up for the new year. Having disorganized receipts puts you at risk of inaccurate records.

Moreover, bad records increase the chances of making errors on necessary documentation, such as business tax returns. Organizing your receipts saves you from making costly accounting mistakes. You may pay for things twice when you have no payment record or exclude such expenses from your account.

A way to organize your receipts is by sorting them according to the expenses they represent. You can also have your receipts in folders or stored on digital devices.

Budget And Outcome Comparison Is Essential

Business budgets help keep financial expenses in order. Aside from assisting you in allocating resources, a budget aligns your investments to expected outcomes. Comparing your budget with your outcome is essential while preparing a year-end account. When you compare your budget at the end of the previous year to the results you’ve achieved at the end of this year, you can tell how well you’ve fared.

More so, such a comparison will help you spot areas you spend more money in than planned and those you spent less. You can use this information as a guide while preparing your accounts for the coming year. This way, you can apportion resources more to tasks and operations appropriately.

Balance Sheets

An Inventory Of Your Assets Will Be Needed

As you end the year, it’s necessary to count the available materials and supplies accurately. This proves helpful in several ways.

First, it enables you to have correct records of business materials and supplies. Secondly, you can note the supplies you will need to make for the next year and materials you need to get off your shelves/store.

If you run an inventory-based business, ensure you complete an inventory check as the year ends. Compare the total inventory on hand to your balance sheets. By doing so, you can make adjustments to any misalignments and have your records straight.

Accounts Reconciliation Help You Maintain Balance

Accounts reconciliation forms a significant aspect of your year-end accounting. Ensure your accounting records tally with your bank accounts. To make this reconciliation, compare your bank statements to your accounting records. Ideally, both records should match, but if you observe a discrepancy, then you need to do some inspection and inquiry. You should locate the origin of the mismatch and guarantee the records are equally balanced.

Conclusion

Having a well-prepared year-end account is a significant business outcome. However, the process doesn’t always come easy. Nevertheless, by focusing on the essentials, you can achieve desirable results. The tips recommended in this article will enhance efficiency and save you time and effort without compromising accuracy in preparing your year-end accounting.