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Lisa C. Townes

How Does Digit Make Money?

Last Updated on September 20, 2023 By Lisa C. Townes Leave a Comment

In a dynamic business environment, where uncertainties are prevalent, FinTech Industry has surely made a huge impact. FinTech has almost overtaken the traditional financial methods of generating revenues. After the financial crisis of 2008 and during the pandemic, the business industry was revolutionized by FinTech. It introduced unique and different ways of generating revenues.

Digit has also taken its noticeable place in the FinTech industry as a budgeting app. The services of Digit to its users involve: how to save money, budget their funds, investment, and pay off debt. Digit has proven to provide a user-friendly, valuable, and innovative platform for saving, investing, and understanding financial outlooks.

This blog post elaborates on how Digit makes money and how it sustains itself as a company. What is Digit?

How Does Digit Make Money?

This app has transformed financial management and provided budgetary solutions to its users. Moreover, Digit has made money through interchange fees, withdrawal fees, subscription fees, and interest from the fund through its user’s bank account. Digit also avails its consumers of savings and retirement accounts that give them a clear financial roadmap.

Digit is one of the top-notch FinTech companies and a leading neo-banking platform, founded in 2013. It had almost 600,000 million paying members, and later on, Digit got acquired by Oportun. This FinTech Company is currently a well-renowned leading personal and stand-alone platform in the US.

Their impeccable image and increasing popularity raised a lot of questions. Concerns like how does this app benefit its users or how does Digit make money?

Subscription

Digit’s main income stream is its subscription service to the viewers. It offers a premium subscription service to its customers and gives access to additional features and benefits. Subscribers can access savings bonuses and unlimited financial coaching by plainly paying a monthly fee. This subscription model allows Digit to generate a consistent stream of recurring revenue. However, it also attains customers’ trust, as providing enhanced services increases the number of dedicated users.

Interest Income

Digit is responsible for securing the confidential matters and sources of its users. It is the ultimate reason why Digit holds users’ savings in trusted FDIC-insured partner banks. The user base of Digit is purely on trust and security. They do not take the confidentiality of their consumers lightly and for granted. This stream of income is based on interest generated through the partnership. These banks pay Digit interest on the funds deposited by the user. Digit generates revenue by retaining a portion of this interest as income. The revenue earned through this interest is directly through the user deposits. This stream of income significantly contributes to Digit’s overall revenue.

Referral Partnerships

Digit has established partnership with various FinTech companies, financial institutes, and service providers. Recently, in Nov 2021, Oportun announced an agreement to acquire Digit. Oportun is also known as a well-renowned FinTech Company. Together they aim to diversify revenue growth and expand their addressable market. These partners offer complementary services, including credit cards, loans, and insurance. This collaboration expanded the horizon of the company. When any Digit users sign-up or interact with partner services through the Digit platform, Digit earns referral fees. Digit also generates indirect income from the recognition and monetization it gets through various collaborations.

Data Insights and Analytics

Like every FinTech company, Digit collects and analyzes massive amounts of data concerning its users’ financial habits and goals. Digit is also strictly concerned about maintaining privacy and security standards for its customers. Similar to every digital financial platform, Digit leverages this anonymized data to obtain valuable insights and trends. These valuable insights are utilized to enhance the services, optimize user experiences, and even inform strategic partnerships.

Most businesses are interested in understanding consumer behaviors and find these insights valuable. A digit may generate revenue by selling aggregated and anonymized data insights to these financial institutions or other businesses.

Licensed Technology

Digit allows other companies and businesses to utilize its technology and infrastructure. It indicates that Digit enhances the usage and services across different industries and businesses. Digit earns revenue by licensing its technology, allowing it to expand beyond its platform and explore new markets. This process is a White-label solution, and it also assists Digit in amplifying its brand name.

Updates on Digit

Another leading FinTech company Oportun announced a definitive agreement to acquire Digit on Nov 16, 2021. The board of directors of both companies agreed on the proposed acquisition. The Oportun’s vision was to expand its artificial intelligence and digital capabilities through a neo-banking platform like Digit. They acquired Digit for approximately $212.9 million, which comprises $98.5 in equity and $114.4 million in cash.

End Note

Digit’s revenue model encompasses a variety of streams that sustain its operations while delivering a seamless and valuable experience to its users. In addition to its direct-to-consumer offerings, it also offers white-label solutions.

The Digit subscription, interest income from user deposits, referral partnerships, data insights, and white-label solutions all contribute to the company’s financial success. Digit ensured stability and growth by diversifying its revenue streams and generating valuable customer relationships.

Digit is determined to provide innovative financial solutions to its ever-expanding user base. As Digit evolves and expands, it will likely explore new avenues to generate revenue while maintaining its commitment to helping individuals achieve their financial goals.

lisa
Lisa C. Townes

Lisa is a passionate travelers. She spends 3 months every year visiting different places worldwide. She has visited almost every famous place in the world. She herself is an affiliate blogger

Filed Under: Investment & Money

Nicole Junkermann and Lynn Good: The Powerful Ladies in Business Era

Last Updated on September 16, 2023 By Lisa C. Townes Leave a Comment

Gone are the days when people thought the business world belonged to men. Now, women are also shining bright in the business industry in different fields. Women have emerged as exceptional leaders and negotiators, making it to the top. Nicole Junkermann and Lynn Good are among the most powerful ladies in the business era who have proved their business acumen by reaching heights of success.

The story of these powerful businesswomen is inspirational and makes you realize the sky’s the limit!

Let’s tell you everything about Nicole Junkermann and Lynn Good, including how they succeeded as female entrepreneurs.

Who is Nicole Junkermann?

Nicole Junkermann, widely known as inversion Nicole Junkermann is a billionaire German businesswoman. She is the founder and CEO of NJF Group, a holding company for her investments in multiple businesses like technology and media.

Nicole Junkermann was born in Darmstadt, Germany, on April 27, 1980. She received her economics education at the University of Cologne and later moved to the US to obtain an MBA from Harvard Business School.

Junkermann is also a philanthropist, helping many other emerging businesses transform their dreams into reality. She participates in the Entrepreneurs Organization and supports struggling entrepreneurs to help them succeed. She is also an investor in companies JobTeaser, BioNTech, and Winamax.

Nicole Junkermann

Nicole Junkermann Net Worth

Nicole Junkermann has a net worth of $1.5 billion as of 2023. Her cautious investments in many emerging businesses have contributed to her incredible net worth. Junkermann is among the finest female business entrepreneurs who focus on empowering other businesses while increasing their net worth.

Nicole Junkermann Investments

Trusting in her abilities, Nicole Junkermann has always taken a calculated risk that has paid well for her. To everyone’s surprise, she made bold investments in game-changing ventures that eventually gained soaring success.

She started her career as an investment banker for Salvator Partners and JPMorgan Chase. This enabled her to understand the strategic skills required as an investor. Later Junkermann followed her interest in media and technology and co-founded the media investment firm Winamax. She also endeavored into sports investments, including the London-based soccer team Crystal Palace.

After investing in other companies, Junkermann founded NJF Holdings, which invests in early-stage media and technology companies. NJF has invested in numerous sports, healthcare, and education industries. The company also supports health, education, and environment-related programs.

How did Nicole Junkermann become Successful?

Nicole belonged to a business family that enabled her to learn the intricacies of the business world quite early on. As a young girl, her father took her to meetings, where she learned to interact with people. She also understood the practical and inspirational side of business. She realized how a successful business requires passion, flare, and creativity, but you also need the right strategies to make your business successful.

Junkermann did not hesitate to apply what she learned and made smart investment choices throughout her career. Her biggest accomplishments include being the CEO of the NJF company and General Motors. She has also been a part of the board of directors of numerous companies, including AXA Group, Breast Cancer Research Foundation, the Mount Sinai Health System, Sportsman Media Group, Zapp360, and Threatscape.

Nicole Junkermann’s Future

Nicole Junkermann is not only a successful businesswoman in her present, but her business insights are sure to keep her at the top of her game. Her career looks promising, with various investments booming and bringing in significant revenue.

Junkermann continues to inspire and impact the lives of hundreds and thousands of entrepreneurs globally with their dedication to facilitating new businesses.

Another amazing name on the global landscape is Lynn Good, who has made her name in the industry through her excellent leadership skills. Let’s tell you about her too.

Who is Lynn Good?

Lynn Good is the CEO, president, and Chair of Duke Energy, one of the US’s largest electric power holding companies; Duke Energy is a Fortune 500 company.

Good was born in Ohio on April 18, 1959, and received her BS in System Analysis and Accounting from Miami University. She later attended the College of William and Mary in Virginia in 1983 to get her Master’s in Business Administration.

She has also been associated with numerous communities and charities, such as the Arts and Science Council of Charlotte, the United Way, and the YMCA.

Lynn Good

Lynn Good Net Worth

Lynn Good has a net worth of $47 million as of 2023.

Her net worth is attributed to her approximately $3 million salary as the President, CEO, and Chair of Duke Energy. At the same time, she owns over 20,000 units of Duke Energy Stocks worth more than $25 million.

Lynn Good Career

Good started her career at Arthur Andersen after receiving her MBA and embarked on the journey of success. Besides being a part of Arthur Andersen, she also worked for various other firms, including Deloitte and later TXU, where she was the Chief Financial Officer.

She joined Duke Energy in 2003 as the Chief Financial Officer and the Senior Vice President, where she looked over the company’s investments and financial strategy. Good started making waves in the technology world when Duke Energy promoted her to President and CEO in 2013; she became the first woman to lead the company.

How did Lynn Good become Successful?

Good started focusing on deep aspects of making Duke Energy stand out by moving towards cleaner energy sources, strengthening customer relationships, and exploring new markets. She proved herself a wonderful leader by ensuring representation and inclusion within the company, positively impacting the company’s success.

Lynn Good Future

While Lynn Good is at the peak of her career, there is no stopping. She looks forward to making Duke Energy the US’s largest electric power holding company without compromising on ethical grounds. She seems happy with her place at Duke Energy, and we expect to see her in this role for some time now.

The Bottom Line

Nicole Junkermann and Lynn Good are two incredible women in the business era, making a name for themselves in male-oriented segments. Junkermann is an investor and CEO of her media and tech investment company, whereas Lynn Good is the President, CEO, and Chair of the Fortune 500 company Duke Energy. Both women are serving to their best capacity and empowering others on their way. They contribute to different charities and have been exemplary leaders. Nicole Junkermann and Lynn Good are an inspiration for the women of today to take charge of what they want to do and conquer the world.

lisa
Lisa C. Townes

Lisa is a passionate travelers. She spends 3 months every year visiting different places worldwide. She has visited almost every famous place in the world. She herself is an affiliate blogger

Filed Under: Career

How Does a Non-Profit Make Money?

Last Updated on September 6, 2023 By Lisa C. Townes Leave a Comment

In the dynamic business environment, the fundamental law of survival is generating revenue and sustaining a higher competitive position. Let’s face it, generating revenue or making money plays a vital role in proceeding with the current financial uncertainty and frustrating situations of the world. It brings resolutions in companies or organizations and provides the potential to grow, and create better opportunities. What about those foundations or mediums who helped the ones crushed by this hustle of the financial race? Those NPOs, who are not driven by profit, how do they stand a chance of attaining any competitive position? How do non-profits make money? It is an intriguing question and a vast one too. Let’s explore the methods and ways through which non-profit makes money.

What is a Non-Profit Organization?

Non-profit businesses are known by terms, such as NPO, 501(c) (3) organizations, non-business entities, or not-for-profit. The term Non-profit means charitable or not conducted primarily to make a profit. These foundations focused on serving the public interest and social, cultural, or environmental mission rather than generating profit or revenue for owners or shareholders. Non-profit organizations are focused on providing charitable benefits to the community. For this purpose, any income generated through multiple means is reinvested back into the organization rather than being distributed among the owners.

These organizations receive tax exemptions from the government, which greatly affects their expenses chart. But there is no denying the fact that a strong monetary circle is crucial for anything to function in the market. Having a well-structured financing system is something that holds the presence of any organization, including non-profit organizations.

How does a Non-Profit Make Money?

Have you ever wondered how non-profit organizations manage to finance their operations? This intriguing query sparked a lot of questions regarding the financial aspect of non-profits. These fascinating entities operate with a purpose beyond making a profit then, how do they make money? The answer is quite simple non-profits do make money. However, the revenue is reinvested within the organization to assist other operations. Here are some common practices for generating income sources for non-profit organizations.

In-Kind Donations and Federal Grants

Non-profits are bound to perpetually operate for the sole purpose of fulfilling their aim. They sustain that level by generating diversifying revenue streams. Federal grants also cover a large portion of the non-profit’s income. Mostly the projects that align with the initiatives of government priorities and agencies are accessed with federal grants. To get access to these grants, the NPOs must fulfill the eligibility criteria to secure government funding. Grants can be obtained from various sources, including government agencies, private foundations, corporate foundations, and community funds.

One of these significant income tactics is donations from individuals, corporations, and foundations. These recurring contributions majorly rely on the common interest grounds of people or organizations, which encourage them to support the cause. These entities provide financial support to non-profits whose missions align with their objectives.

Fundraising Events

Non-profits are fully aware that relying solely on donations can be risky. It leaves them in a vulnerable financial state. Relying on donor contributions in the fluctuating economy can be awful for the organization. Therefore, non-profits actively seek out alternative sources of income to support their mission. Fundraising is one of the most pivotal income sources for non-profits. This gives them wide reorganization and awareness in society.

This stream of income gallows non-profits to engage with their supporters. There is no one specific method of fundraising, it can be done through charity galas, auctions, benefit concerts, charity runs, and crowdfunding campaigns. Through ticket sales, sponsorships, and donations collected during these events, non-profits can raise funds while fostering community engagement.

Membership Fees and Services

There are some contradictory thoughts about the program fees of non-profit organizations. Mostly the membership fees are considered to be associated with membership-based organizations. This fee is also related to trade associations and professional societies. Non-profit organizations charge membership fees, especially if it’s an educational workshop or training session.

These training sessions are mostly for professionals of some specific field, students, and social awareness on some problems. The fees of these programs are quite less and affordable, yet enough for non-profits to cover their operational costs and help them contribute to their revenue generation. Specific programs offer monthly and annual contributions for some beneficial services, networking opportunities, and educational resources.

Social Enterprises

Non-profits use social enterprises to serve the organization’s cause and generate commercial profit. The purpose of these enterprises is associated with the collateral cause of some social or environmental interest and mission. Any activity linked with the people’s benefit and connects with the core value of the non-profit organization is a guaranteed income source. It creates a win-win situation on a national level. Non-profits can generate revenue through these enterprises while leaving a powerful impact on society.

Investment

Any simple investment does not hurt and paybacks in a better way. The core purpose of income generation in the NPOs system is reinvesting it in the collateral cause that supports the organization’s mission. The revenue generated through multiple means is invested in endowments or strategic investments. These endowments are quite effective in the long term and create more exposure to financial resources. This investment gives back in terms of supporting the NPO’s operations and projects over time.

Make Money

Partnerships and Sponsorship

In the business world, one thing that creates an enormous difference in the profile of any organization is networking. Let it be any non-profit organization creating strategic partnerships with corporations and businesses that generates more ways to spread the organization’s name. The sponsorships form an image of a socially responsible company for businesses and non-profits to get recognition and revenue. These partnerships can involve financial contributions, in-kind donations, or joint marketing campaigns.

Financial Management

Risk forecasting and a well-articulated budgetary plan go a long way. Since non-profits rely on corporate funding, government, and for-profit contributions, having a clear and realistic financial goal helps generate more income. Non-profit organizations must carefully manage their finances to ensure long-term sustainability. It involves budgeting, financial planning, monitoring expenses, and maintaining transparency and accountability in financial reporting.

How Do Non-Profits Work?

The non-profits can be of various types, depending upon what they stand for. They can be associated with any specific cause, such as charities, advocacy groups, foundations, welfare, and religious organizations. Whatever their vision might be, most of the functioning of these platforms are similar. Here is the general way through which non-profits operate:

Mission and Vision

The prime core and the goal are what make a non-profit organization. Some targets have a persistent belief system and work towards it. Every non-profit has a specific mission and vision that defines its existence and reflects its purpose and long-term goals. This mission and vision represent the future goals for the organization and work as a roadmap to guide them in decision-making processes and future endorsements.

Zero Ownership

Unlike for profit organizations, non-profits typically are governed by a board of directors or trustees. These organizations do not have any owners or shareholders. The directors are directly responsible for overseeing the organization’s operations, ensuring compliance with laws and regulations, and making strategic decisions. It is also directly related to the revenue generation factor of these non-profit organizations.

Revenue Sources

Non-profits operate on realistic finance approaches when it comes to generating income sources. They rely on a combination of funding sources to sustain their work. These sources may include corporate donations, grants from foundations and government agencies, partnerships, fundraising events, and membership fees.

Volunteers and Staff

There is no hard and fast rule for the non-profits to only rely on the volunteer’s work. Like directors or trustees, they have a few permanent/ temporary employees based on salary. This paid staff comes in handy when it is related to training and assisting the countries. They manage day-to-day operations, fundraising efforts, and program execution. But in most non-profit systems, the organization heavily relies on the support of volunteers who dedicate their time and expertise to help further the organization’s mission.

Assessments

Any annual or monthly evaluation comes in handy when a company wants to assess its progress. Non-profit organizations also work on the same strategies as they ensure the accountability of the work and its impact. They track and evaluate the outcomes and effectiveness of their programs to ensure they are making a meaningful difference. This data not only helps with internal decision-making but also strengthens accountability and transparency. It filters downs any task, strategies, and functions that no longer serve any valuable purpose.

The Bottom Line

Non-profit organizations do not rely on a singular income stream. They generate a multitude of income streams to sustain their vision. The diversification of their revenue streams enables them to invest more in a better income stream. The most general and common ways through which any non-profit makes money is through seeking federal grants/grants, offering fee or membership-based services, establishing social enterprises, organizing fundraising events, forging corporate partnerships, implementing membership programs, and leveraging endowments and investment.

The non-profits earn money only to reinvest within the organization to empower their cause through financial sustainability and pursuing meaningful causes. They have the potential to create an expressive, positive, and valuable impact on society. Financial management can help better understand the pivotal importance of their cause and long-term viability.

lisa
Lisa C. Townes

Lisa is a passionate travelers. She spends 3 months every year visiting different places worldwide. She has visited almost every famous place in the world. She herself is an affiliate blogger

Filed Under: Investment & Money

How Hard is CFA Level 1

Last Updated on September 5, 2023 By Lisa C. Townes Leave a Comment

CFA is a widely recognized investment management designation globally. Numerous finance enthusiasts worldwide enroll in CFA to be a part of the charter and excel in their field of interest. But it is not everyone’s piece of cake. CFA is a challenging exam; only a small percentage of people pass all levels. However, when starting, the most common question is, “How hard is CFA level 1?”

Some people believe it is the hardest, but statistics show that most people pass level 1 tests compared to levels 2 and 3.

So, let’s tell you the CFA level 1 summary and how difficult is it to pass it.

What is CFA?

The CFA® (Chartered Financial Analyst®) charter is a postgraduate designation certifying the competence of financial analysts. The CFA institute comprises over 167,000 professionals and societies globally.

Universities, programs, and regulators recognize this certification in more than 30 countries and territories. It enables the candidates to connect with their peers around the world and get better job opportunities.

Levels of the CFA Exam

The CFA exam constitutes three levels (level 1, level 2, and level 3) that test your knowledge of different skills and tools. These tests are the key metric for evaluating your financial analyst competency. Most people take around 4 to 5 years to pass all three levels.

The program is basically a self-study program with a generalist approach to valuation, investment analysis, and portfolio management. We will discuss the CFA exam level 1 course content later in this article.

How Hard is CFA Level 1?

Some candidates believe level 1 is the hardest, while others say it is the easiest step of the ladder; the exam gets harder in level 2 and level 3.

The average overall pass rate for all three CFA levels is only 11%. Around 10-20% of candidates do not appear for the exam due to anxiety and cold feet.

Statistics from 1963 to February 2023 showed a 41% average Level 1 pass rate. However, the passing rate dropped to 38% in February 2023.

So, it would not be wrong to say that CFA is setting the bar high with even tougher question papers now due to increasing competition.

Course Content for CFA Level I

The CFA exam tests the candidates on the following skills and subjects:

  • Alternative Investments
  • Corporate Finance
  • Derivative Investments
  • Economics
  • Equity Investments
  • Ethical And Professional Standards
  • Financial Reporting And Analysis
  • Fixed Income
  • Portfolio Management And Wealth Planning
  • Quantitative Methods

Equity investments, financial reporting and analysis, ethical and professional standards, and fixed income are the most heavily weighted sections in the Level 1 exam. So, giving a little extra preparation time to these CFA level 1 notes topics is always safe.

CFA Exam Criteria

If you are looking forward to taking the CFA exam soon, you must meet the criteria set by the CFA institution. You must have:

  • A bachelor’s degree from a recognized institution OR be a final year student completing the degree within 11 months
  • 4,000 hours of work experience related to investment decision-making process completed in a minimum of 36 months
  • A valid passport
Preparing the exam

When Can You Take the CFA Exam?

The CFA institute conducts the exams in June, but you can also take the Level 1 exam in December. You cannot retake an exam at least 6 months after the first attempt. Many students give up after failing their first attempt to avoid waiting for a long time and investing 300 hours of study again.

Also, did you know CFA Institute provides a free mock exam CFA level 1 for candidates? If you did not, now you know about it!

How much time does the Level 1 Exam Take?

CFA exams typically take 4 to 6 hours, and the Level 1 exam is around 4.5 hours, split into two 135–minute sections (with an optional break). Candidates must complete 180 questions during the period.

The exam is split into as follows:

  • First session (135 minutes): 90 multiple-choice questions on financial statement analysis, quantitative methods, ethics & professional standards, and economics.
  • Second session (135 minutes): 90 multiple-choice questions on corporate issuers, fixed income, equity, derivatives, portfolio management, and alternative investments.

The test uses two question formats:

  • Sentence completion with three choices
  • Questions with three choices

The questions might include terms like ‘most accurate,’ ‘most appropriate,’ ‘most likely,’ ‘best described,’ ‘least appropriate,’ ‘least likely,’ ‘least accurate,’ or ‘least appropriate.’ But you will not see ‘except,’ ‘true,’ or ‘false’ in the questions.

Candidates must not spend more than 90 seconds on each question to ensure they are able to complete the test. Also, answer all questions as the exam carries no negative marking.

CFA Level 1 Exam Passing Criteria

The CFA institute does not openly share a MPS (minimum passing score), but research shows it is between 60 and 70 percent.

Candidates do not receive a detailed marking card indicating their score in every subject. Instead, the result reads ‘Pass’ or ‘Did not pass’ depending on the MPS. However, candidates receive a summary of their performance in each topic to help them prepare better for the next attempt.

The score of each topic is expressed as:

  • Less than 50 percent
  • 50 – 70 percent
  • More than 70 percent

To pass the exam, candidates can only score less than 50% in one or two of the topics (least weighted). You must aim toward gaining more than 70% in all topics.

Now that you know how hard is to CFA level 1 and the minimum passing score, let us give you a few tips on passing CFA on the first attempt.

How to Pass the CFA Level 1 Exam?

Create a Study Plan

While you might think it is the obvious part of preparing for a tough exam life CFA, many people forget this step and opt for an ‘as much as possible’ approach. However, a CFA requires you to create a proper study plan, allocating specific time to every aspect of exam preparation. You must create your study plans 6 to 9 before appearing for the Level 1 exam.

Know the Material

The course content for the CFA exam comes from the CFA institute’s curriculum. You can find all the study material on their official website to prepare CFA level 1 notes. It must be your primary resource to prepare for the exam, followed by others for additional help.

Give at least 300 Hours to Exam Prep

Candidates who have prepared and passed CFA have one thing in common: they prepared for at least 300 hours before appearing for Level 1. Divide the time into 90–120 hours for reading and coursework, 120–150 hours to answer practice questions, and 60 hours for practicing CFA level 1 mock exam.

Prepare According to Topic Weightage

As you know, some topics have a higher weightage in the CFA Level 1 exam than others, so it is best to give them more time. It will allow you to prepare for these topics better and boost your chances of scoring less than 70%.

Focus more on Concepts

It is no secret that the CFA exam is all about numbers, but you can only ace these calculations if your concepts are crystal clear. Before jumping to calculations and mock exams CFA level 1 right away, take your time to understand the concepts. Familiarizing yourself with the underlying ideas is essential to scoring well.

Befriend your Calculator

Your calculator is the most important tool in the examination hall, and you must know how to use it adequately. CFA institute allows candidates to use Texas Instruments BA II Plus/Plus Professional and Hewlett Packard 12C and special edition calculators. If you are not adept at using yours, it can harm your score.

Enroll in a Preparation Course

Enrolling in a CFA preparation course can help you prepare better and pass your exam on the first attempt. The institutes have years of experience that allow them to provide strategies and tips to perform better in the exam.

Tips for the Exam Day

  • Dress comfortably
  • Check your calculator 
  • Sleep well
  • Drink plenty of water
  • Be confident 
  • Keep an eye on the watch to not miss questions

What if I Fail the CFA Level 1 Exam?

Though you must prepare to pass the exam in the first attempt, over 50% of the students fail in the CFA level 1 exam. And if you do not pass it in the first attempt, gear up and get ready for the second attempt.

  • Design a stricter schedule with more study time
  • Analyze your performance and focus on weak areas
  • Give at least 300 hours if you did not do it in the first attempt
  • Fix your weaker concepts 
  • Practice CFA level 1 mock exams more
  • Enroll in a CFA preparation course to understand your weaknesses better

The Bottom Line

CFA is a widely recognized investment management designation globally, and thousands of finance enthusiasts take CFA exams every year. As a beginner, most people wonder how hard the CFA level 1 exam. CFA level 1 is considered the toughest; Statistics from 1963 to February 2023 showed a 41% average Level 1 pass rate. However, the CFA level 1 summary shows the passing rate dropped to 38% in February 2023. Candidates who have passed CFA level 1 suggest studying at least 300 hours, focusing more on highly weighted topics, and enrolling in a CFA exam preparation institute.

lisa
Lisa C. Townes

Lisa is a passionate travelers. She spends 3 months every year visiting different places worldwide. She has visited almost every famous place in the world. She herself is an affiliate blogger

Filed Under: Accounting & Taxation

How Does Chime Make Money?

Last Updated on September 5, 2023 By Lisa C. Townes Leave a Comment

Let’s admit it, dealing with essential tasks in the comfort of home is convenient. The traditional banking system is a way to go for people looking for a reliable and trustworthy banking experience. There are a multitude of digital platforms, but only a few are trustworthy and feasible.

In the realm of business and the era where digital banking is revolutionizing, Chime has emerged as a prominent financial disruptor. Chime stands out to be a prominent player in the digital banking industry. It’s a traditional banking deal breaker, providing its user with a seamless, no-cost banking experience.

Let’s shed light on the rise of Chime and illuminate the facts that make Chime stand out and how this FinTech Company sustains itself.

A Closer Look to Chime

Chime is a FinTech business based on the premise that basic banking services should be feasible, easy, and free. It’s called a neo-bank or challenger bank and does not act as a bank or financial institute. It provides financial services to its users while associating with the banks for the transaction. It’s an app that generates revenue by taking out a portion of the transaction fees.

Founded2013
User (2022)14.5 million
HeadquartersSan Francisco

Chime is determined to change the way people think about banking. Its user-friendly and easy accessibility makes it the go-to platform for GenZ and millennials.

Insights

Before we dive into understanding the revenue model of Chime, let’s see how it all started. This financial disruptor was founded in 2013 by Chris Britt and Ryan King. Their vision of reinventing the traditional banking experience became a reality.

The company initially started as a mobile app focused on providing users with real-time notifications of their transactions.

Over time, Chime expanded its offerings to include a full suite of banking services, such as checking accounts, savings accounts, and debit cards.

Which Bank Does Chime Use?

Chime values the security of its customers and thrives in providing a secure transaction experience to users. Chime only partnered with two leading banks. There is misleading information that Chime is a bank itself. It is crucial to clarify that Chime is not a bank. This FinTech Company is associated with banks to provide online banking services on behalf of banks.

Chime handles the transaction procedures of its users through the following banks:

  • The Bancorp Bank
  • Stride Bank

It’s the most suitable choice for customers who are looking to maximize their saving account interest or those who don’t deposit cash often.

What makes Chime Stand out?

Chime has the flexibility to create a win-win situation for themselves and their users. It puts its user in a condition where they can save money while spending it. Stick to us and know-how.

Whenever you use a Chime Visa Debit card to make any purchase or transaction, chime rounds up your transacted amount. This rounded-up amount gets delivered to your saving account. Users can easily avail of this service by accessing the Automatic savings features on their Chime account.

Another attractive and beneficial service that Chime provides is introducing a system where unnecessary charges are cut out. Chime generates a way to eliminate those expenses and turn them into a favorable situation. It creates a system that makes a cost-effective transaction for its users.

Chime will free you from these extra fees such as:

  • Overdraft Fees
  • International fees
  • Non-sufficient Funds (NSF) Fee
  • Transfer Fee
  • Monthly Fees

Now you know why it’s favored by GenZs. Chime gives services to its users in the comfort of their homes, with no additional charges, and all at the palm of their hand.

Services and Benefits by Chime

When Chime claims that it is a user-friendly platform, they mean it. They do that by offering a checking account with zero monthly fee and easy access through a mobile banking option. You can access your cash with over 60,000 fee-free ATMs. Let’s have a look at the account options that Chime presents:

  • Checking Account
  • Credit Builder
  • Saving Accounts

Moreover, there are other benefits Chime gives to its users. Benefits that most users don’t get to enjoy from your traditional banking experience. The following are the benefits of associating with Chime:

  • There are absolutely no monthly fees or charges
  • You can get access to a free Debit card
  • Free Overdraft without any excess charges
  • You get paid early
  • It gives high-yield savings accounts
  • Securely send and receive money

You can expect more benefits as Chime continues to evolve and expand its offerings. It will be fascinating to witness how its revenue model adapts to new trends and challenges in the financial landscape. Read further to know how Chime makes Money and its revenue streams.

How Chime Makes Money?

We have discovered that Chime barely charges its users, which sets it apart from traditional banks. This fact must have got you thinking: how does Chime make money if it’s providing every service for free?

Your quest for the answer is about to be filled as we are discussing some indirect tactics through which Chime earns revenue. Let’s put a stoplight on the methods through which Chime makes money.

Interchange Fee

Chime have made electronic payment system easy for its consumers to use. Moreover, through this easy option Chime have introduced their own Chime cards. Every time you use a Chime card to pay your bills, Chime gets a portion of that payment. It is known as an interchange fee. When you make a purchase using Chime Visa Debit Card, it collects the amount from the merchant to further process your payment. A certain portion of this interchange fee is paid to Chime.

Although individual transactions may seem insignificant, the high volume of Chime users translates into a substantial revenue stream.

Premium Services

In addition to its free banking services, Chime offers a premium membership called Chime Plus. The members of Chime Plus gain access to extra features, such as:

  • Early direct deposit.
  • Higher transaction limits.
  • International transaction capabilities.

The subscription fees contribute to Chime’s revenue, especially as the user base for these premium services continues to grow.

SpotMe Option

As the name suggests, Chime saves its customers in their time of need. Have you ever find yourself short on cash? Chime got you. For eligible users, it gives an optional overdraft protection service called SpotMe.

With SpotMe, customers can make debit card purchases even if they have insufficient funds.

When a customer uses this service, Chime covers the transaction, but it may result in a negative balance. Chime charges a fee to the customer when they repay the negative balance, generating revenue in the process.

Interest on Deposits

Chime offers a savings account feature called Chime Savings Account. This account allows users to earn interest on their deposits. Chime earns revenue by investing these deposits and earning interest on the funds.

Although the interest rates may not be as high as those offered by traditional banks, Chime’s ability to generate revenue from this source cannot be overlooked.

Partnership with Banks

Chime has maintained a partnership with two banks, The Bancorp Bank and Stride Bank. These partnerships not only enable Chime to provide secure transaction services but also helps Chime in generating revenue.

These partnerships enable Chime to access the infrastructure and regulatory frameworks required to offer banking services. In return, Chime shares a portion of the revenue generated from customer transactions with its partner banks.

End Note

Chime has earned the title of being the disruptor of the traditional banking system. This FinTech Company has earned this title by revolutionizing the banking industry and introducing new revenue generation strategies. These strategies revolve around interchange fees, overdraft protection, interest on deposits, partnerships with organizations or banks, and premium services. By leveraging these revenue streams, Chime established itself as a sustainable and profitable FinTech company. This forum is also determined to provide a seamless and fee-free banking experience.

lisa
Lisa C. Townes

Lisa is a passionate travelers. She spends 3 months every year visiting different places worldwide. She has visited almost every famous place in the world. She herself is an affiliate blogger

Filed Under: Investment & Money

What is the Purpose of a Master Budget?

Last Updated on September 3, 2023 By Lisa C. Townes Leave a Comment

Have you ever wondered how companies keep track of their production and strategic goals throughout the year? Well, one handy tool they use is called a master budget.

A Master budget is a formalized budgeting project that includes all of a company’s financial activities within a specific timeline. It serves as a fundamental tool for financial planning, forecasting, and evaluating future performance.

The master budget merges smaller components, like sales management, production, and personnel expenses, into a cohesive plan. Not only has it ensured proper coordination of operations but also efficient resource utilization.

In this blog, we will delve into understanding the significance of a master budget and how it empowers businesses to make informed decisions regarding their future endeavors.

What is a Master Budget?

A master budget is also called a static budget. It is an all-encompassing projection that outlines a company’s financial activities. This budget is composed of planning considerations for over a year or a period. It’s a comprehensive financial plan which acts as a fundamental tool for monitoring financial activities, forecasting, preparing sales budgets, and evaluating future performance.

Let me break this down for you in a simple way: a master budget is a compass, a roadmap for any organization. This roadmap consists of various interconnected budgets, including sales, capital budget, production, and personnel expenses. These low-level budgets are further consolidated into a cohesive plan. Through this master budget, companies can achieve an effective allocation of funds, financial forecasting, operations research, and optimal resource utilization.

Master Budget works as a compass and a guiding light for business management. This powerful tool provides a preliminary framework for short-term projections and helps to anticipate future resources. However, it’s pivotal to understand that the budgeting process directly influences the operational performance of the entire firm. Therefore, it must be dealt with and structured with care and attention.

Let’s jump toward understanding the purpose of a master budget and its impact on driving business success.

Main Purpose: Why is a Master Budget Important?

The master budget creates an effective financial plan that plays a vital role in short-term planning and achieving the set benchmark. A well-articulated master budget provides a peek into what the company expects to achieve over a year and what realistic targets to set.

Here are some purposes for creating a master budget for an organization.

Performance Evaluation

A meticulously designed master budget gives the team a rough guideline to follow in their performance expectations. By having a rough guideline for performance expectations, management can monitor progress, create effective management accounting, identify areas of improvement, and take necessary corrective actions. This proactive approach fosters a culture of continuous improvement and keeps the organization on track toward its long-term goals.

In the realm of business, a master budget sets financial targets, plans revenue and expenses, allocates resources, and facilitates decision-making in the organization. A meticulously designed master budget enables businesses to navigate the complexities of the market to make an informed decision.

Revenue and Expenses Forecasting

A well-structured master or static budget works as a primary document in financial forecasting and cash or sales budget. Master Budget gives an insight into budgets, evaluating market trends, and customer behavior. It renders guidelines to the management in estimating sales volumes and revenue and cost budgeting. This cohesive budget gives a roadmap to identify and categorize operations costs. It also provides a way to determine cost drivers and cost centers.

Long-term Vision: Setting Financial Goals and Objectives

A master budget acts as a vital tool for organizations to navigate their successful financial journey. This helps organizations align with their financial objectives and provide the best value for their needs in the business world. The master budget assists in establishing the organization’s mission and vision.

Conversely, this translates vision into financial targets which are understandable and easy to manipulate for the management. It provides the executives and the leaders to constitute the best possible investment ideas and forecasting for what generates the most revenue.

Moreover, the master budget gets the goals of the organization in alignment. It eventually becomes easy to interpret for the team and to make them understand their benchmarks. Master budget starts aligning financial goals with strategic objectives. This feature increases the overall productivity of the organization. Eventually, this ensures consistency across departments and teams within the organization.

Assists in making an informed decision

The core benefit of the master budget is its ability to provide financial forecasting, risk management, and to give a framework for operations within the organization. Management of any organization can make an informed decision when they have forecasting revenues and expenses. It gives them a guideline for making decisions such as when to invest, where to invest, how to optimize the operations within an organization, and which project to prioritize first. A well-structured master plan not only helps the organization in saving resources but also minimizes the wastage of resources.

If we were to decide what is the most realistic, reliable, and proven budget for any organization in the long term, it would be the master budget. The steps or requirements before creating a master budget depend upon the type of firm. For instance, a master budget for a manufacturing firm would be different from the master budget of an educational institute. Master budget’s primary function in a manufacturing firm would be to enhance the product manufacturing quality and create better scope of product variety.

Here we give a general view of how you can constitute a master plan for your organization.

Critical Components of Master Budget

When we discuss the Master or Static budget, we’re referring to a comprehensive financial plan that outlines the anticipated revenues, administrative activities, expenses, and profits over a specified period.

The leading purpose of this master budget is to keep the entire team on board. With this planning budget, management gains a crystal clear understanding of their objectives and tasks well in advance.

It acts as a compass, guiding the organization toward achieving these objectives and helping them in evaluating their progress. Moreover, it serves as a powerful hiding framework that gives basics and blueprints for achieving financial goals. Here are some important components of the master budget.

Sales Budget

The sales budget gives insight and forecasts of the expected sales within a year. This budget is a cluster of two leading budgets: The Product and direct material budget.

Cash Budget

The cash budget minimizes the chances of cash shortage and records the inflow and outflow of cash within the organization. It includes cash disbursements, cash receipts, and cash balances.

Production Budget

This budget is a project that indicates the need for new product development processes and services a business might need within the period. The core purpose of this budget is to manage the inventory tracking system, determine production costs, and achieve sales targets. This budget utilizes sales forecasting, inventory control, production capacities, and product efficiency to evaluate the manufacturing needs of the organization.

Who needs a budget?

The clear-cut answer to that question would be: any company that wishes to stay stable in the business industry needs to have a master budget. A well-articulated financial plan and effective business expansion are a must-have to survive and succeed in a dynamic business environment.

A master or static budget ensures effective resource allocation, cohesive low-level budgets, and investments in the future, but how does that help the company? What is the purpose of a master budget?

Having a master budget gives a roadmap to the company, which leads toward resource allocation and financial planning. It provides the basis for evaluating the future performance of the company. So, to answer that question, the master budget is the spinal cord of any successful company or organization. Embracing the power of the master budget is an essential step toward ensuring financial stability and long-term success.

Conclusion

The master or static budget has the potential to become a valuable and powerful tool for management, which can assist management in shaping the future of their firm proactively. It works like a compass and a roadmap for achieving their future financial goals. A master budget can enable the organization to attain effective resource allocation and help in short-term planning. However, its impact cannot be underestimated, as a carefully prepared budget sets the stage for operational success in the business world.

Crafting a well-designed master budget is vital for achieving financial success in your business. By understanding the importance of a comprehensive financial plan, management can lay a strong foundation for effective financial management and strategic decision-making. Tap into the power of a master budget and unleash growth, prosperity, and potential for your organization.

lisa
Lisa C. Townes

Lisa is a passionate travelers. She spends 3 months every year visiting different places worldwide. She has visited almost every famous place in the world. She herself is an affiliate blogger

Filed Under: Banking & Finance

How does Debthunch Make Money?

Last Updated on August 25, 2023 By Lisa C. Townes Leave a Comment

Welcome to the evolved world of money management, where debt consolidations, personal loans, and extension of credit are not a big deal. Did you get yourself in a financial pickle? Or are you among those 40 million Americans bound with debt for a year? Your worries stop here, as one of the best platforms is here to save you. Debthunch is a family-owned licensed debt consolidation forum that provides debt relief solutions for the people. Let’s talk more about this platform which has the potential to save you from financial crises and debts.

What Type of Company is Debthunch?

Debthunch is a leading financial service company that offers various debt relief solutions to individuals struggling with financial distress and overwhelming debts. It is a family-based company serving for 18 years in the market. Their specialties are assisting with debt consolidations, debt settlements, personal loans, and credit counseling. Besides their remarkable services, debthunch makes money through different means such as partnerships with creditors, service fees, and data analytics. While Debthunch offers various debt relief solutions, it is momentous to thoroughly research and understand the legitimacy of any company before utilizing its services.

Debthunch has helped countless individuals overcome their financial distress by negotiating debt settlements on their behalf. This strategy has resulted in significantly reduced debt amounts and more manageable payments.

Debthunch prides itself on exceptional customer service, with a knowledgeable and supportive team available to answer any questions and provide guidance throughout the debt relief process.

What is Debt Consolidation?

It’s easier to understand this term when explained with an example. Let’s suppose you have unclear credit card bills, some unpaid personal loans, and some bills you have been delaying paying for quite some time. This entire process sounds wholly hectic. It is where the option of debt consolidation comes in. This term consolidation means to combine into one body, and similar to the meaning, your bills will be combined and paid. There are a few practical ways through which you can consolidate your debts. You can either do it on your own by availing of a personal loan from a bank or get it done through a debt consolidation company like debthunch.

Risks of Debt Consolidation

Get personal loans from banks if you want to handle your debt disputes on your own. It can directly affect your credit score, and you might not be able to apply for another loan shortly. Although, this effect would be temporary if you maintain your credit score before acquiring another one. Debthunch can help you save your credit score for the future and handle the risks associated with debt loans on its own.

How is Debthunch Linked to Debt Consolidation?

At first, the debt consolidation process seems a bit complicated and requires professional assistance. Although, there is a better alternative way to deal with this issue. Debthunch Platform is a licensed, trustworthy, and experienced consultant who knows which methods or type of consolidation works for you. The best possible platform for this process is debthunch. It has been providing its remarkable debt consolidation services to its consumers at affordable service charges. Debthunch expertise is in offering debt consolidation solutions for business loans, personal loans, credit cards, medical bills, lines of credit, and private and student loans.

How does Debthunch Make Money?

This debt-consolidating company focuses on providing a quality service to its consumers and generating revenue through multiple streams. Debthunch makes money in various ways, such as through charging its consumers and negotiating with creditors.

Consultation Fee

The prime and initial phase of the debt consolidation process is the assessment step. First, you need to have an introductory meeting with the team of debthunch. The purpose of this meeting is to evaluate your financial situation. Debthunch’s team charges the users for their consultation. That is the most fundamental way through which debthunch makes money. They review your outstanding debts, income, and expenses.

Customized Debt Relief Plan

Beforehand the team needs some amount from you to work on your customized debt relief plan. After the consultation meeting and evaluation of your financial situation, a team of debthunch creates multiple suitable debt relief plans for you. Debthunch also makes money through this process, though they claim to be completely transparent with their terms and fee. Still, there are always some hidden fees that the customer cannot refuse to pay. Any customized plan that the customer opts for requires some advance amount. This payment becomes an extra source of income for debthunch.

Monthly Payments

Accessing the facilities from debthunch is convenient but not cost-effective. Their quality service comes with expensive monthly charges. After your final decision regarding the program you choose, an efficient team of debthunch will create your escrow account. This medium will be responsible for further assessments and payments. Debthunch makes money through these monthly fees but also uses it to negotiate with your creditors.

Generating Leads via Advertising Channels

Advertisement is the backbone of debthunch, and it gives more exposure to the company in different marketplaces. This strategy brings potential clients and increases the credibility of the company. Debthunch makes money by providing effective debt relief solutions to its customers. Debthunch also makes money through selling leads to other debt relief agencies that might cater to clients not suitable for their services. Their lead generation strategy involves collaboration with financial bloggers, websites, and other media channels. It helps debthunch reach a broader audience.

The Impact of Collateral Data on Business Success

It also collaborates and indirectly works with financial institutes, investors, and researchers. Debthunch makes money by providing valuable data to these institutes. They utilize financial data to derive valuable insights into consumer debt behavior. This data is beneficial to monetize financial insights, generate industry reports, and analyze trends.

Is Debthunch Legitimate?

The legitimacy of any debt relief company is a critical aspect to consider when seeking its services. Consider different facets before deciding to associate with debthunch. The following points can define the trustworthiness of the company:

  • Relevant accreditations and certifications
  • Customer reviews
  • Testimonials
  • Is it accredited by the American Fair Credit Council (AFCC) and the International Association of Professional Debt Arbitrators (IAPDA)?
  • What are the ethical standards of debthunch?
  • How debthunch makes money? What are their means of income?

It is wise to research the company’s credibility beforehand. Check the consumer’s reviews and complete terms of use before deciding to approach them.

Disclaimer: This blog is for informational purposes only and does not constitute legal or financial advice.

End Note

Debthunch served for 18 years and has an exceptional experience in debt consolidations. It has helped countless clients with its effective debt relief program. Debthunch makes money through service fees, monthly payments, providing customized debt relief plans, and potential partnerships with creditors. You can judge a company’s credibility through their customer reviews and ethical work standards. Although, it is advised to evaluate all the aspects before choosing debthunch for your debt relief program.

lisa
Lisa C. Townes

Lisa is a passionate travelers. She spends 3 months every year visiting different places worldwide. She has visited almost every famous place in the world. She herself is an affiliate blogger

Filed Under: Investment & Money

How Do ETFs Make Money?

Last Updated on August 25, 2023 By Lisa C. Townes Leave a Comment

We live in a fast-paced world where need and demand constantly clash. It generates a desperate need to have some passive income source. In that situation, stocks, bonds, joint ventures, shares, and mutual funds are the first thing that pops into everyone’s head. However, it’s not feasible to understand how the platforms that provide these services work and whether should you invest in any company’s share.

However, it becomes hard to understand where to invest and why? Another question that bugs most of us is if the earned profit is given to us, then how do these platforms generate their revenue?

Today, we are hoping to reveal the secrets of one of these platforms and learn how they generate revenue. Our target for this purpose is ETFs (Exchange-Traded Funds). If you were ever interested in investing, you may have come across Exchange-Traded Funds (ETFs). Among different types of investment methods, this platform has gained popularity due to its simplicity and potential for diversification. But have you ever wondered how ETFs make money? Take a trip with us as we explore the different ways ETFs generate income and get an insight into their profitability.

A Closer Look at ETFs

Let’s quickly unravel what Exchange Traded Funds are. ETFs are known as pooled investment security and funds. These are fixated on a specific index sector. These are similar to individual stocks that can be sold, bought, and purchased from the stock exchange.

They aim to track the performance of a sector-specific index, real estate, commodity, or any assets such as the Russell 3000 or S&P 500 (stock market index). These funds are utilized by investors who are looking to gain exposure to a diversified portfolio of assets.

ETFs provide its investors and APs (Authorized participants) low expense ratios, fewer broker commissions, and stocks, enabling them to create better master budgets without binding them to purchase every single one of them individually. That is why it’s also commonly called the bucket of assets.

Types of ETFs

ETFs mainly offer types of funds such as physical funds- purely to track down some indexes, stocks, or assets to get a detailed view of the underlying market and the Synthetic EFTs. These Synthetic EFTs give exposure to a benchmark and coordination in management.

Here are some of the most common ETFs availed by a multitude of investors:

  • Sector and Industry ETFs
  • Currency ETFs
  • Stock Index ETFs
  • Commodity ETFs
  • Inverse Or short ETFs

In-Depth Overlook – How do EFTs Make Money?

ETFs, like any investment platform, come with expenses. The primary fee associated with ETFs is the expense ratio. The revenue generated is primarily through transaction Costs and the fund’s performance.

Securities Lending

Some ETFs generate revenue through securities lending. ETFs unleash the extra potential through securities lending. This process involves lending temporary loans- their underlying assets to other market players, such as institutional investors or hedge funds. In return for this loan, the borrower pays a certain fee to the ETF. This securities lending revenue contributes to the overall return generated by the ETF, improving its profitability.

ETFs Game of Shares

The creation and redemption of shares are one of the unique features of ETFs. Authorized Participants (APs), typically large institutional investors, play a crucial role in this process. APs work directly with the ETF issuer to create new shares or redeem existing ones. When creating new shares, APs contribute a basket of assets that matches the composition of the underlying index. In return, they receive newly created ETF shares. Similarly, when redeeming shares, APs return ETF shares to the issuer in exchange for the underlying assets.

This creation and redemption process helps ensure the ETF’s share price is accurate. It tracks down the net asset value (NAV) of its underlying assets. It also enables liquidity and helps keep the ETF’s market price in line with its intrinsic value.

Underlying Hold of Funds

Another prime source of income for ETFs is through the underlying holding of funds and interest through the bonds. These dividends and interests are the results of held assets such as stocks and bonds. ETFs receive dividends from the stocks they own and a generous amount of interest from the bonds in their portfolio.

Later on, this income from dividends and interest is passed on to ETF investors or APs. These are typically in the form of dividends. The variations and distribution of dividend payments depend upon the type of ETF. This dividend distribution is commonly based on monthly, quarterly, and annually-based terms.

In the end, the investors get to decide how they want to receive the dividends back either they can reinvest these dividends back into the ETFs, or they may receive it through cash. These two income generation panels have the potential to impact long-term investment growth and improve productivity in an organization.

Operating Expense Ratio

Every investor on the ETFs platform is required to maintain a portfolio that enables them to get to APs level or attain some extra discounts. It is also the amount investors pay to hold the funds. ETFs offer a quick beta service for eligible investors. This beta costs a bit, and this fee is charged to cover the operating costs.

This operating cost involves providing services, such as portfolio management, administration, legal, and marketing fees. These fees are called the expense ratio. It is also known to be the annual management fee. It’s the primary fee associated with ETFs. You must be thinking, if it’s a cost of availing some services, then why is it called Expense Ratio?

The expense ratio is expressed as a percentage of the fund’s total assets under management (AUM). Here is an example to elaborate more on the expense ratio and its rate. If the ETF has an expense ratio of 0.70 %, the investor pays $7 in fees for every $1,000 invested. Later on, the expense ratio is deducted from the ETF’s assets, reducing the fund’s overall returns.

Take Away

ETFs generate money through well-structured mechanisms. This mechanism includes expense ratios, profitability ratios, securities lending, and interest income. These multitudes of revenue sources indirectly influence the diversification and liquidity of ETF services. This level of diversity makes ETFs an attractive investment option for many potential investors. Investors can make the best out of this investment platform through careful consideration while investing.

ETFs make it clear for its investors to make a well-informed decision. They can do it through crucial evaluation of the expense ratio and considering the potential risks associated with securities lending.

lisa
Lisa C. Townes

Lisa is a passionate travelers. She spends 3 months every year visiting different places worldwide. She has visited almost every famous place in the world. She herself is an affiliate blogger

Filed Under: Investment & Money

How does Steve will do it Make Money?

Last Updated on August 21, 2023 By Lisa C. Townes Leave a Comment

Money is the most influential and imperative factor in today’s world. It revolves around every aspect of life, and its significance cannot be denied. Multiple factors are associated with money, such as your freedom, life choices, and the ability to adopt any lifestyle.

The marketplace is filled with multiple business ideas and methods of generating revenue. Every single business or person in this era is focused on creating more and more ways of generating money. To better understand the methods through which people make money online, we will discuss one of the progressing and famous revenue generation methods in the marketplace.

Today our target is a famous and top-ranked YouTube channel- Stevewilldoit. With its remarkable fame, it generated revenue in millions. This fact makes us wonder how Steve will do it makes money. Tag along with us to unravel the revenue generation secret of this platform.

What is “Steve Will Do It?”

Stevewilldoit is famously known as the fastest-growing YouTube channel owned by an American guy named Stephen Deleonardis. Stephen Deleonardis began his journey on social media platforms like Instagram and YouTube. He is notorious for showing off his wealth, from private jets to exotic cars and luxury watches to giving away hundred and thousands of dollars. Steve’s personal life is also intriguing and currently living a luxurious lifestyle.

Let’s have a look at some Tidbits about Stephen Deleonardis:

Original NameStephen Deleonardis
Famous ForSteveWillDoIt
GenderMale
Current ResidentLos Angeles, California, USA
ReligionChristianity
Date of BirthAugust 26, 1998
Annual Income$1.5 Million
ProfessionYoutuber, Content Creator
Social media influencer
Siblings2
Income SourcesReal estate, crypto casino, gambling
Rumble, The SteveWillDoit Show

How Does Steve Will Do It Make Money?

This famous icon does not depend on a single means of income. Stevewilldoit makes money through top NFT marketplaces, YouTube channels, pre-IPO companies, and gambling. Let us get a sneak peek of how Stevewilldoit makes money through various revenue streams.

Instagram

His journey started in 2017 on Instagram through fun pranks and challenges, multiple stories, and updates. His fan base was mediocre and now has turned into 3.7 million followers. Early on, the engagement was consistent throughout his Instagram journey and now skyrocketed after his YouTube ban drama. Steve started earning a handsome amount through social media initially in his career. Even you can also become an influence and make money with instagram with clickbank.

NELK

Initially, his journey towards fame started when he became one of the founders of the NELK foundation and YouTube channel. This channel was famous for its thrilling content, challenges, obstructive pranks, and dares. The NELK platform is a Canadian American YouTube channel that generated tons of revenue for Steve and its other members. Their vlogs got millions of views, and the content led to the extreme growth of their channel.

Gambling

Influencers and Twitch users continue creating more streams of income once they manage to generate a singular revenue stream. Steve will do it, is not limited to its YouTube traffic and content. It has another effective source through gambling. Steve will do it is famously known by the name Steve will send it on Twitch. The owner of this channel, Stephen Deleonardis, had other ways of increasing his net worth. He became a pro at gambling and started earning millions through a well-renowned platform, Stake.

Online Store

Steve will do it store includes his merch for his fan base. Steve will do it makes money through his online digital store, which offers a wide range of products like Steve will do it hoodies, backpacks, mugs, pillows, cases, T-shirts, Tank Tops, Caps, and Posters. Steve’s moderate source of income is through his digital products and famous online store.

Events and Meetups

Since his enormous popularity got him a status of high stardom, this also became a prime source of income for him. Stevewilldoit gets invited to multiple events by different companies to either promote their product or initialize a new product line. His appearance gives hype to their product, and Steve will do it to get paid just for his performance and appearance. Steve makes money through meetups, webinars, events, and promotions.

Rumble

After a huge setback from the YouTube ban, Steve will do it and make an entrance on Rumble. He currently reached 598K followers on Rumble. Steve will do it and start making money on this community-based subscription platform, his popularity due to other social media forms helped him in earning quick followers on Rumble.

NFTs and Crypto

Steve will do it and makes money through crypto trading, investing in digital assets, bitcoin, Ethereum, and NFTs. Though his statement details are not pretty clear yet, there is confirmation that he has generated a vigorous source of income through crypto. Steve will do it, along with his NELK partner released his NFTs which made him around $23 million in cash. His Meta card NFT is estimated to be sold for 0.75 ETH. It generated around $2,300 per unit.

What made Steve will do it so Famous?

Among thousands of content creators, what made Stephen so famous was that he competed with a successful Youtuber like Mr. Bean. Mostly the content resonated with the audience and became an enormous entertainment due to its daring pranks and trilling videos. His charismatic personality and engaging content like audacious pranks and collaborations helped him build his channel. Steve will do it made its name in social media and digital entrepreneurship by fabricating a substantial following and turning his passion into a profitable business. His entertaining content resonated with audiences, leading to a rapid increase in followers and subscribers.

Why was Steve Banned?

According to Stephen, his channel got deleted for having the gambling website stake.com. He stated in a podcast that one of his last videos on YouTube involved gambling through an immense online gambling website, Stake. He said that he had Stake.com in there. Content creators are allowed to say that I’m playing on Stake but cannot mention Stake.com on their screen.

He mentioned the URL while playing, and his editor forgot to blur it while posting the video. It violated YouTube’s policy and terms of service. That minute mistake cost him a well-running channel with almost 4.12 million subscribers.

In a Nutshell

Steve will do it is living the dream life of the Gen Z generation. From flashy cars to vast investment mediums, Steve will do it make money through multiple streams. These type of influencers works on one single matrix-breaking strategy investment. They create one firm and a potent income generation stream and utilize it to buy assets through various platforms.

Steve will do it make money through its social media platforms, buying crypto, investing while avoiding major risks in cryptocurrency, selling his NFTs, gambling, physical products, and events. Despite his ban on YouTube, he managed to opt for other various revenue generation methods. This energetic content creator seems to have a non-stop stream of income. The best part about it all is he does it through doing what he loves, creating thrilling and entertaining content.

lisa
Lisa C. Townes

Lisa is a passionate travelers. She spends 3 months every year visiting different places worldwide. She has visited almost every famous place in the world. She herself is an affiliate blogger

Filed Under: Investment & Money

Top 10 Iron Ore Producing Countries in World

Last Updated on October 6, 2021 By Lisa C. Townes Leave a Comment

Although it is a widely distributed metal, only 49 countries, with about 150 deposits produce different types of iron ore. Iron is soft, malleable and ductile, and easily magnetized at ordinary temperatures. Pure iron melts at about 1535°C and boils at 2750°C.

According to recent statistics, total deposits in the world are 300,000 million metric tons. Here is the list of Iron Ore production by country.

Top 10 Iron Ore Producing Countries

Iron Ore Production Countries
• China
• Russia
• Australia
• India
• Brazil
• Ukraine
• US
• South Africa
• Canada
Total 2017 Production in Million MT
• 340
• 60
• 545
• 120
• 280
• 39
• 29
• 39
• 29

1: China Iron Ore Production

Due to China’s Iron Ore consumption at a mass level; China is not self-sufficient therefore China imports iron ore; it’s Ranking first in the world.

The largest amount of deposits occur within Manchuria and Anshan deposits. While the Yangtze Valley and southwest of Beijing are important for deposits.

China possesses more than 10,000 million metric tons reserves. It mined 520 million tons. High-grade magnetite and Haematite, iron ore deposits are widely scattered in China.

2: Russian Federation Iron Ore Production

Russia possesses huge deposits and ranks second in the world. Russia has a huge quantity of iron due to its physiography and huge capital.

Deposited are although distributed throughout Russia, but mostly found in the Ural Mountains, Eastern Siberia, and Southern region of Moscow are most important.

Russia produced 105 million, metric tons and ranked fifth in iron ore production in the world.

3: Australia Iron Ore Production

Australia stands among those countries, which have large reserves and produce high amounts of iron ore. Due to small local consumption, it exports large quantities. Japan is the largest importer of Australian iron.

Western Australian region provides in bulk. While old iron +mines of Middle Back, Iron-Knob and Iron Monoarich are valuable, iron reserves in Southern Australia.

4: India Iron Ore Production

India has more than 21,000 million reserves, which are high-quality hematite and magnetite in grade. India ranks at number four in the list of iron ore production by country.

Iron ore mines in India are producing at a huge level and having relatively low prices.

It is widely distributed in the country; nearly 90% of national output is contributed by the states of Goa, Madhya Pradesh, Orissa, Bihar, Karnataka, Maharashtra, Andhra Pradesh, and by mines in Rajasthan.

5: Brazil Iron Ore Production

Brazil has the largest reserves in the world. Brazil is the biggest country in South America Continent; it has a huge area and a lot of forest and rivers.

Itabira and Carajas iron ore mines having high-grade reserves. Brazil exports large amounts, U.S.A. is the largest destination of Brazilian iron ore.

Brazil production in recent years crossed 300 million metric tons. Brazil’s 75% reserves are located in the Quadrilateral Zone of Minas Gerais.

6: Ukraine Iron Ore Production

Within the Commonwealth of Independent States (CIS), Ukraine is very important, it possesses large reserves and is the 6th largest producer.

The Kryvyi Rih is the largest producing region in Ukraine. In the CIS region, Kazakhstan is also an important producer and possesses large reserves.

Only 73 million metric iron ore production.

7: US Iron Ore Production

The United States is an important iron ore producer in the world, and ranked 7th in the world. The U.S.A. is not self-sufficient in needs, it imports iron from Brazil and Australia.

Deposits of. The U.S.A. is distributed in northeastern Pennsylvania, Southeastern Alabama, Birmingham, and Tennessee state, the western Rocky Mountain region, and the Lake Superior region.

U.S.A iron ore mining crosses 54 million tons.

8: South Africa Iron Ore Production

South Africa is one of the outstanding countries and ranks 8th in the list of countries by iron ore production in the world. The South African iron ore mining industry produced Brazil and India. The South African industry supplies the domestic market’s full demand, and the remaining volumes are benefited and exported.

In South Africa, the Transvaal ore region possesses large high-grade reserves and here more than 65% of the country is mined South Africa exports large quantities in the world market.

It possesses more than 10 billion metric tons reserves South Africa mined 40 million metric tons.

9: Canada Iron Ore Production

One of the important producers and possesses large quantities of iron ore mining in Canada as well as reserves.

In Canada, deposits are concentrated around the Lake Superior region in Ontario Province. Québec-Labrador and Newfoundland also possess high-grade reserves.

10: Sweden Iron Ore Production

Sweden is the largest iron ore producer in Western Europe. Sweden possesses the best quality deposits in the world and is an important exporting country in the world.

The Kiruna Sweden and Malmberget iron ore mines produce in bulk. It produces, with the mines in Sweden; a very high grade of magnetite ore and earns sizeable revenue through the exports.

Other Important Countries

Above mentioned list of producing countries and Mauritania are some exporting countries. While Japan; China, Korea, the U.K., Italy, Poland, France, Germany, and Pakistan are importing countries.

lisa
Lisa C. Townes

Lisa is a passionate travelers. She spends 3 months every year visiting different places worldwide. She has visited almost every famous place in the world. She herself is an affiliate blogger

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