Business Finance Articles

Your First Financial Choice....

Blog

5 Problems Freelancers Face While Working With Clients Across Borders

Last Updated on By Leave a Comment

Freelancing is a perfect way to be your own boss with nobody dictating you around and telling you what to do. There are more than a billion freelancers in the world today, which indicates that this is the field to be in.

Changing economic situations and the COVID-19 pandemic pushed many youngsters to become freelancers. The field has been popular for quite some time now, but the pandemic forced all of humanity to stay indoors. During this time, millions of people lost their jobs and livelihoods; in this case, freelancing platforms proved to be a great option to earn.

The best thing about freelancing is that you don’t have to go anywhere and can carry out work from the comfort of your house. This is enough to entice people to become a freelancer. Many people with stable jobs also freelance part-time for some extra cash.

Freelancing is exceptionally fruitful; however, a few concerning issues arise when working with clients from different parts of the world. International clients prefer hiring freelancers from other countries because the exchange rates are comparatively much more economical for them.

Having clients from across the border is a wonderful feeling because you are essentially getting a decent amount of money, but this awesomeness comes with a few limitations. Let’s look at what are some of the problems faced by freelancers with international clients.

men working on computer

1. Language Barrier

The biggest problem that arises while working with clients from other parts of the world is the language barrier. Clients speak a different language, and some of them are not as fluent in English as others.

Sometimes this causes a lot of problems because understanding what the other person wants becomes difficult. Due to this issue, it sometimes takes a considerable amount of time to be clear about everything. This also develops a sense of irritation among both parties and the chances of losing the business increase.

What a freelancer should do in this situation is to ask all the questions as simply as possible. The skill of understanding what a client wants develops over time and with experience. So, hang in there.

2. Communication Gap

The communication gap is another factor that creates problems for the freelancer and the client. In a physical setting or a job environment, the person asking us to do a task is near us and can guide us if they want things to be a certain way.

With the language barrier already in play, not being at the same place brings out the communication gap. This results in more revisions and consumes a good chunk of time that might affect the task completion for other clients.

When the freelancer thinks they are all done and submit their work, the client informs them about the things that need to be done differently, and they might have to start working on the project all over again.

The best thing to do is gather all the minute details about the project before working on it to avoid future mishaps.

3. Payment Issues

One of the biggest problems is getting paid as a freelancer. Freelancers begin their careers with freelancing platforms such as Upwork and Fiverr. Once they are experienced enough and have gained stable clients, they try to take up the clients personally out of the freelancing platforms.

The thing about freelance platforms is that they charge a fee for bringing the clients and freelancers together. This fee depends upon the payment you are receiving, and as the payments grow, the fees increase as well. People don’t want that and move outside of the platforms. This creates payment issues because of the country differences.

4. Tax Issues

Taxes are not fun, but they are essential. In addition to your country’s taxes, there might be tax implications of the country your client is from.

You have to figure out all the taxes before getting your hopes high and later get disappointed. We suggest you get some professional advice regarding the taxation process and begin your projects with foreign clients.

5. Time Difference

Time is another concern for freelancers. Clients from across the borders have different time zones than freelancers, which can be a major inconvenience. Because of this reason, the responses can get delayed and limit your work. Getting a quick response for something important related to the task will become a hassle because of the time zones.

The same goes for the client; they will have to wait a long time if they want to get in touch with you regarding a few chances.

If you want to work with foreign clients, you either have to adjust to the different time zones by changing your working hours or communicate everything before starting the projects together.

Although there are a few complications in the freelancing world with all its advantages, you can ignore the issues. You can work around the problems and solve them, not get too flustered, and be patient.

A helpful Guide to Car Insurance in Texas

Last Updated on By Leave a Comment

In 2020, Texas saw 1.50 deaths per hundred million miles by vehicles. That was a noticeable increase from 2019, when the number stood at 1.26. It is also increased in 2021. Texas is an at-fault state, which means that the financial responsibility of the damages falls upon you if you are responsible. In case of car accidents, you have to show that you can pay for any damage. Therefore, having auto insurance with a minimum amount of coverage is a necessity.

If you are looking to buy car insurance in Texas, it is advisable to know some details regarding car insurance. It will ensure that you find the best coverage and are protected during emergencies.

What are the insurance requirements in Texas?

The law of Texas requires you to have a minimum coverage of at least 30,000 USD per injured person and a total of 60,000 USD per accident. The primary coverage usually covers the medical bills and property damage costs in case of an accident. For property damage, the amount is 25,000 USD.

Types of Coverage

There are eight different types of car insurance coverages in the state of Texas:

  1. Liability coverage – it pays for the other driver’s car. It also covers their medical bills and expenses.
  2. Collision coverage – it covers the cost of repairs or replacement of your vehicle after an accident.
  3. Underinsured Motorist coverage – it is helpful if you are hit by someone who does not have insurance.
  4. Towing coverage – If your car is towed and is severely damaged, towing coverage will cover that.
  5. Medical payments coverage – it would pay your medical bills, even if you were driving someone else’s vehicle.
  6. PIP coverage – it covers medical bills along with lost wages and related costs.
  7. Rental reimbursement – it comes into play when you need a rental car after yours has been stolen.
  8. Comprehensive coverage – takes care of all costs if your vehicle is vandalized or damaged by natural causes like floods or fire.

Things to check before buying an insurance

Take the liability factor into consideration

It is better to go with a type of coverage that is more than the official minimum amount. Cars can be costly, along with the healthcare treatment often necessary after a crash. If the other car driver sues you for all the additional costs incurred by them, you can rely on your coverage to pay the extra money.

Always compare the policies

Comparing the prices and policies will give some idea of your insurer in Texas. You should check the policy period, premium, financial rating, consumer complaint index, available discounts, and coverage limits. You could also ask them to provide you with a policy disclosure, which they are bound to do by the laws of Texas.

Pay attention to the deductibles

In insurance terms, the deductible is the amount of money you have to pay before the insurance company starts paying. It could either be a percentage or a specific dollar amount. If your deductibles are higher, your premiums will be higher too. One way of deciding the right deductible is determining how much you can pay after an accident.

Check if the insurer has a license

Auto insurance companies in Texas must obtain a license from the Texas Department of Insurance. Therefore, ask your company whether they are licensed and whether or not it is updated. 

Thus, be informed while buying car insurance in Texas. You never know when you might need one. Having proper and comprehensive coverage will ensure that you are taken care of financially in the best way.

6 Tools to Manage Remote Employees

Last Updated on By Leave a Comment

In the past year and a half, remote working has seen drastic changes. Companies from all over the world indulged in working remotely because of the COVID pandemic. Now when things are getting back to normal, companies still want their employees to work remotely because of all the benefits. 

Working from home is better for most people. Companies save a ton of money because they cut back on electricity bills, food, transport, etc. However, the biggest challenge concerning remote work is the management of employees. 

Employers have to find ways to enable effective communication among employees, figure out if they are wasting their time, pay them their salaries on time, and many other challenges. 

Here is a list of tools that can help manage remote employees efficiently. 

Working from home

1. Video Conferencing Tools

Offices in physical settings carry out daily meetings or one on one conversations. With remote work, communication is a big challenge. Video conferencing tools like zoom are excellent software for the employer, explaining the tasks to employees, or monitoring their progress. 

With Video software, you can have one-on-one or group meetings every day before work to ensure productivity and enthusiasm among workers. Most of these tools are easy to use as they can be downloaded on devices or can be used online. 

2. Business Communication Platforms

There are a ton of communication-based platforms that have proven to be quite helpful for remote work. The main purpose of this software is to bring the remote workers on one page and ease the communication to a great extent.  

You can register your company on any of these platforms and add your employees to it. You can create project-based groups with your employees or stay connected to them on private chats. As an employer, you will have the option to keep an eye on what your workers are doing or talking about on most of the software. 

You can connect multiple tools and software such as Google Drive etc., to have everything in one place. The pricing options of these platforms differ according to the size of your business or preference. They always offer a free plan if you don’t want to pay. 

3. Payroll Management Tools

These tools are essential for keeping payments under check. If you have difficulties maintaining the payment schedules for your employees, then payroll management tools will surely help you out.

You can set payment reminders on these tools, maintain invoices, and even set automated payments that you just have to schedule one day. There are a lot more options to make things easier as an employer. You can manage the payroll for remote teams using these tools effectively. 

4. List-Making Tools 

You can find some fantastic list-making tools that you can use for your work projects. You can create different boards on the platform for multiple tasks at a time. You can assign the project to a team or assign a task within the project to a single employee. 

This software makes monitoring projects a lot easier because you can keep an eye on which projects are completed or how many are under the process. You can set deadlines and completion dates to keep track of everything. 

5. Project-Management Tools

Project management tools allow you to assign tasks and add due dates to each project. You can find quality software with just a few searches on the internet. If you have mainstream projects that need too much detailing, project management tools are a great option. These tools let you keep an eye on more organized and streamlined projects with ease and make things more accessible for you as an employee.

You may find some software difficult to work with, but you can understand things a little better once you are on board with things. There are free and paid plans for most of these platforms. You can use the free plan to get used to everything, and when you are familiar with the tool, you can get the paid version. 

6. File Sharing Tools

One of the most challenging tasks of working remotely is file-sharing. Every company runs on projects, and every project has some files to be shared. You will find a lot of high-quality and fantastic file-sharing tools that are quick and easy to use. 

Most of the platforms allow the files to be shared with a group of people or with a single person. You can send files to anyone in the world even if they don’t have the said software. These tools give you an option in which you can create links with which the other person can download the files easily. Using these tools will provide more swiftness to your day-to-day tasks.

There are many other valuable tools for remote working companies. You just have to know your requirements before buying a tool or software. Working remotely made us all realize that going to the office might not be as good as we think it is; you can complete the work and carry out the meetings from the comfort of your home as well. 

These tools are just a medium to make things a little more efficient and smooth as the people you are working with are not beside you. Using these tools is a great way to make the distance disappear virtually. 

STEM Survival – 6 Tips for Future STEM Majors

Last Updated on By Leave a Comment

STEM pathways are some of the most challenging options you can select for schooling. However, they’re also among the most rewarding. While it takes a lot of hard work to make it in a STEM field, we promise it’s worth it, and today we’re sharing some tips to help make things a little easier for you.

Seek Tutoring

The first thing to do is seek guidance from someone who has already followed the path you’re pursuing. At a high school level, this is best done by engaging the services of the best VCE tutors Melbourne has to offer. They’ll be able to assist you with any concepts you don’t understand and with a tutor on your side, you can achieve the grades you need to get into your preferred higher education course. The key is that you have to be willing to put in the work too.

Go to Seminars and Conferences

Another great way to make the pathway to your career flow smoothly is to attend seminars and conferences. Hearing from experts who’ve achieved the goals that you’re aiming for is both educational and motivational. In some cases, they can even count as course credits.

You never know when an extra point or two toward your schooling will come in handy, and because you’re learning about something you’re interested in, you should have no trouble engaging with the lecture.

Take the Advanced Course

Speaking of course credits, if your school offers them, advanced courses are a great way to further your learning and prepare yourself for the future. You’ll most likely need to sit an exam to get into these types of courses, but both your tutor and your mentor can help you prepare. Though it will take more work, the extra knowledge you gain will be invaluable.

Get Hands-on

If advanced courses aren’t offered at your school or don’t fit in with your already busy schedule, you could also consider getting hands-on with a school-funded club or community initiative. As society focuses on increasing interest in STEM pathways, more extracurricular options are appearing, and they can be greatly beneficial for your future career.

These offerings are also a great option for those who choose to take advanced courses, but it is important to be mindful of your workload and only join a club or program if you have the time and energy to do so.

Attend a Summer Program

Many school districts now offer camps or mini-courses over the summer break, and if it is possible for you to join one, you can get a competitive edge in your desired industry.

Get a Mentor

Finding a mentor in your desired field is a powerful way to get ahead. As they’re already working in the career you aspire to have, they can provide a whole host of tips and tricks that can help you get where you want to be.

A mentor can also introduce you to people who could provide great learning resources or opportunities that you may not have otherwise been able to access. For these and other advantages, it’s certainly worth looking into.

Finally, it is important to remember that you have chosen one of the most challenging pathways available to students. While this certainly shouldn’t dissuade you from following your dreams, it should be kept front of mind so you can show yourself compassion when you feel like you’re lacking. All skills take time to grow, and you’re still young. Make sure you’re drinking enough water, getting enough sleep, and not being too hard on yourself. You’ve got this.

How COVID Pandemic Has Changed Business Markets

Last Updated on By Leave a Comment

Covid-19 has been a driving force of change in this world. Everything from our daily routine to how we lived our lives changed due to the pandemic that took over the world. Covid-19, better known as coronavirus, came into our lives only over a year ago, but it certainly changed the course of the world in this short span.

Every sector globally came into the fire of Covid-19. The education sector suffered because millions of students were forced to stay at home, the health sector almost collapsed with all the corona cases, and the entertainment industry saw a downfall. 

One industry that suffered the most because of the extensive lockdowns was the business sector. Business markets faced many challenges, starting from maintaining a customer base to running a business because of the pandemic. 

On one hand, physical businesses suffered a great deal, while on the other, online businesses thrived more than they ever did in the past. Online business revenue rose to $26.7 trillion, which is much more than it used to be. Because of the lockdown, people were not allowed to get out of their houses, which is why the answer to every problem was online shopping. 

Let’s dive deeper into how COVID has changed the business markets of the world.

calculating

1. Online Buying and Selling

Online shopping has been around for quite some time now, but since the COVID-19 pandemic hit the world hard, it grew in significant numbers. People shifted their businesses online where people could order anything they wanted to from the comfort of their homes.

The need for stepping out of the house became a thing of the past. The people who head out to buy the smallest things now pick up their mobile devices to order what they want. This change brought a lot of differences to the business market, and companies finally realized the potential of online business.

Different tools were used to monitor this change in the consumer’s shopping habits. If you run an online business, you also must’ve used tools to scale your business. These tools helped put the change into perspective and made it evident that this shift would not happen anytime soon.

2. Remote Working

Companies could simply not succumb to the global lockdowns; if they did, they wouldn’t be in business in the future. Big brands that couldn’t handle the change and pressure closed down at the beginning of the pandemic with no hopes of returning to business.

Most of the businesses in the world, either product-based or service-based, shifted to remote work. Product-based business markets suffered a little more than service-based because the production phase came under the bus because of the pandemic. Certain services also saw a dark phase because they couldn’t be continued online at least until the companies came up with solutions.

Nevertheless, remote working became the new norm and proved to be quite productive. Many firms realized that the business they run could efficiently be conducted from home, and even after the lockdown was over, they decided to stay remote.

Remote working gained popularity in the past year, with most people enjoying the comfort of their houses. Although getting used to the digital front was a challenge to some people, they soon got a hold of it and began their work.

Remote hiring also became a thing where business owners hired employees for work from home. Businesses also saw the remote benefits work brought them, and they started advocating for it with all their hearts.

3. The Rise of Digital Marketing

As everything shifted online, businesses faced the challenge of virtual competition. The companies already working online now had to face the challenge of other companies trying to take over. It was a race, and everybody wanted to be at the top in order to attract the consumer.

Business markets relied heavily on digital marketing to bring them to the forefront. Digital marketing services became the center of attraction, and their services were more in demand than anything else. Businesses understood how online marketing works and tried to incorporate the techniques to achieve the exposure they require to have a stable customer base.

From SEO to SMM, every marketing technique was applied to bring business to the online companies. COVID-19 is a big reason why digital marketing found such widespread popularity. Although it has always been crucial, the corona pandemic made people understand its importance.

4. Increased Popularity of DTC Businesses

DTC (Direct to Consumer) businesses saw great popularity because there was no need for physical shops and stores to sell the products. Consumers could directly approach the brands online and order the required products.

DTC businesses saw drastic growth over the past year, and people also realized how easy it is just to order the stuff online. These brands built strong customer relations, and now even after things are getting back to normal, their popularity remains the same.

Wrapping Up

These were some of the many changes that occurred in the business markets due to the pandemic. The times have been hard for everyone, but companies who quickly adapted to the shift thrive in this environment while others suffer greatly.

Why do Forex Brokers need to follow KYC and AML requirements?

Last Updated on By Leave a Comment

The Forex market belongs to spheres with the highest trading volumes, while the daily turnover of FX is $7 billion. Traders all over the world buy and sell assets here. Moreover, retail traders can quickly enter the market with the help of brokerage companies.  

As such, the number of Forex prime brokers is rapidly growing every year. Meanwhile, the vast majority of countries have a string of demands for new brokerage companies. Some of them are mandatory, while others differ from country to country. Anyway, newer brokerages are free to get licenses in a wide variety of jurisdictions.

For instance, KYC and AML are some of the essential demands. Every regulated broker needs to operate following the Know Your Customer and Anti-Money Laundering standards.

Benefits of trading in a Simulator

The basics of KYC and AML

When it comes to the Forex regulations, KYC and AML requirements are considered among the core demands. Let’s take a more in-depth look at these policies and learn why they are crucial for every brokerage company. 

KYC is the acronym for “Know Your Customer”. It means that every trader or investor who learns how to start a Forex business must pass the verification procedure. The results serve as proof that a person works in the financial market under their own identity. Such a process also prevents traders from breaking laws (for example, registered traders can’t hide their profit from tax withholding. Moreover, brokerages may block accounts of investors who are suspected of fraud, are subject to sanctions, etc. 

AML is short for “Anti-Money Laundering”, and these requirements are tied to the Know Your Customer procedure. There are a specific set of actions to prevent money laundering obtained by illegal means.

When a new trader or investor joins the trading platforms, managers analyze the AML list to understand whether a person is related to criminal activities, financial fraud, and other types of lawbreaking. This is why a regulated brokerage company may block a newer user to prevent possible violations and protect other registered traders. 

How do AML and KYC regulations affect the account creation process?

All White Label Forex solutions users understand such demands as one huge pitfall to signing up on a brokers’ website. However, this is wildly speculative. The Forex market is related to highly competitive spheres where brokerages provide exceptional services for newer and retail traders. That’s why account creation must be one of the strong points of the Forex broker.

Brokerages integrate the latest KYC and AML solutions to speed up the sign-up process and make it straightforward. New users need to fill in the personal data, add ID photos and get feedback in a couple of minutes. If some problems appear, applicants may contact the customer support specialists and clarify all details. 

Among other things, turnkey FX solutions implemented by a broker remove possible hurdles, making the account creation process faster and more convenient for all who enter the market. 

May FX brokers not stick to KYC and AML laws?

Following strict rules is an essential part of starting a cryptocurrency exchange or Forex business. May business founders lead another way? In theory, a brokerage company may welcome all traders and investors with no ID check. How can this choice affect the FX broker in the near future? 

  • Most jurisdictions have adopted specific rules to prevent possible irregularities. Brokerages that don’t stick to KYC and AML requirements cannot get any category of the Forex license. 
  • If brokers don’t meet the Know Your Customer and Anti-Money Laundering demands, they operate illegally. In this case, some sanctions from financial authorities are possible. The state officials may block the website and make it impossible to create new accounts. 
  • In addition to the states’ power, traders prefer to work with reliable platforms. This is why licenses play a vital role, assuring applicants that their rights are well protected.  
  • Financial fraud is dangerous for any broker. If a company ignores KYC and AML laws, it may end up with a string of limitations, prohibitions and sanctions related to the lawbreaking. 
  • Sometimes, brokers partner with other platforms or IB brokers. The rejection of KYC and AML requirements makes cooperation impossible.
  • Working with reliable payment providers and liquidity aggregators may be unacceptable. Brokers without licenses mostly cooperate with providers, which credibility leaves much to be desired.

As for now, these demands are unavoidable for brokers who want to succeed in the Forex market. 

How can Forex brokerage meet the KYC and AML requirements?

When business founders are going to create a crypto exchange or Forex broker, they can pave one the following paths:

  • Run a Forex company from scratch solely. This is the way for business owners with years of experience in the FX field. In this case, there is a ready-made team of developers, accountants, lawyers and other specialists. Further, the broker needs to ask for the help of the leading KYC provider, which makes the verification easy. 
  • Get the turnkey Forex broker. This way requires applying to a trustworthy and experienced company that will help to perform all essential steps. In the end, business founders get a ready-made company that complies with Know Your Customer and Anti-Money Laundering demands. 
  • Try the White Label trading platform. This way is one of the other most popular among newcomers in the FX sphere. They need to ask for cooperation with a reliable brokerage. White Label solutions cut expenses and use the broker’s license.

How to File for GST Return in India?

Last Updated on By Leave a Comment

Are you a business owner or a Taxpayer? Either of these, I hope you know that you need to declare the income you receive from carrying out business transactions in your GST return.

If you are still a little puzzled, I will explain. A GST return is a document that contains all of the details of your sales, purchases, a tax that has been collected on sales, and tax paid on purchases. Once that is done, you need to file your GST returns and pay the resulting tax liability that you owe the government.

What is TDS?

TDS – Tax deducted at source is when a person is liable to make payments to any other person, and deducts tax at source, and transfers the balance to the deductee. This TDS will be remitted to the State’s government. Now everyone does not need to pay TDS, but a few. Let’s find out who that is along with what is TDS.

Who Needs to File a GST Return?

  1. Amendments.
  2. Auto-drafted Returns.
  3. Tax Notice.
  4. Regular Businesses.
  5. Businesses registered under the Composition Scheme.
  6. Other types of business owners and dealers.

If you are one of these, you are wondering how to file GST returns. Well, no worries. This article will show you how to do it step by step and have you covered.

How to File GST Return?

Every taxpayer, from manufacturers and suppliers to dealers and consumers, is required to file a tax return with the GST department each year. Filing tax returns has become more streamlined under the new GST regime. GST returns can be filed online utilizing Goods and Service Tax Network (GSTN) software or apps, which will auto-populate the details on each GSTR form.

Here are the steps you need to follow

Step 1: Go to the GST portal (www.gst.gov.in).

Step 2: Based on your state code and PAN number, a 15-digit GST identity number will be given.

Step 3: Submit invoices to the GST gateway or software. Each invoice will be assigned an invoice reference number.

Step 4: Following the submission of bills, the outward return, inward return, and cumulative monthly return must be filed online. If there are any problems, you can repair them and resubmit the returns.

Step 5: On or before the 10th of the next month, file the outward supply returns in GSTR-1 form via the information part of the GST Common Portal (GSTN).

Step 6: The recipient will get details of outward supplies given by the supplier in GSTR-2A.

Step 7: The recipient must verify, authenticate, and alter the specifics of outbound supplies, as well as file credit or debit note details.

Step 8: In the GSTR-2 form, the recipient must include details about inward supplies of taxable goods and services.

Step 9: The provider can approve or reject the recipient’s adjustments to the details of inbound supply in GSTR-1A.

There are different types of GST returns, and you need to know which category you belong to, in order to finish this process with ease, and perfectly.

GSTR – 1

  • Who is it for?

A registered taxable supplier must file information on outbound supplies of taxable goods and services as they occur.

  • When do you Pay?
  • Monthly

GSTR – 2

  • Who is it for?

In order to obtain the input tax credit, registered taxable recipients must file information of inbound supplies of taxable goods and services.

  • When do you pay?
  • Monthly

GSTR – 3

  • Who is it for?

A registered taxable person must make a monthly return based on the finalization of details of outward and inward supplies, as well as the payment of tax.

  • When do you pay?
  • Monthly

GSTR – 4

  • Who is it for?

The composition supplier files this return.

  • When do you pay?
  • Quarterly

GSTR – 5

  • Who is it for?

It is for a non-resident taxable person.

  • When do you pay?
  • Monthly

GSTR – 6

  • Who is it for?

This return is for the input service distributor.

  • When do you pay?
  • Monthly

GSTR – 7

  • Who is it for?

The return is for authorities that carry out tax deductions at the source.

  • When do you pay?
  • Monthly

GSTR – 8

  • Who is it for?

The e-commerce operator or tax collector must file information on the supplies made and the amount of tax collected.

  • When do you pay?
  • Monthly

GSTR – 9

  • Who is it for?

Every registered taxable person is required to file an annual return.

  • When do you pay?
  • Annual

GSTR – 10

  • Who is it for?

Taxable individuals whose registration has been terminated or relinquished must file a final return.

  • When do you pay?
  • After the cancellation of the GST.

GSTR – 11

  • Who is it for?

The person with the UIN who is demanding a refund must enter details of inward supply.

  • When do you pay?
  • Monthly

Conclusion

Well, there are penalties when you do not file GST returns, and this article would have covered all aspects of how to do that from the comfort of your home. Moreover, you can even check the status of your GST returns online through the portal. So, you might not want to miss out on the specific dates to file your returns.

Post-Pandemic Windfall: Why You Should Invest in Rental Properties

Last Updated on By Leave a Comment

When it comes to investing, the first thing that comes to the mind of most people is stocks. For decades, people have invested in stocks and made (and lost) a significant amount of money. Though any type of investment comes with risks, there are other ways to invest your money than just stocks. The real estate industry is another popular sector to which investors tend to entrust their money: and with a real-estate boom on the rise as the COVID, pandemic begins to wane, with good reason.

Here are three reasons why you should consider investing in real estate, specifically rental properties.

insurance in property

#1: Rental Properties are Extremely Profitable, Generating Loads of Passive Income

Rental properties are either residential (homes) or commercial (businesses) properties that are leased or rented over a certain period of time. Another popular type of rental property is a vacation rental, in which tenants rent for a shorter period of time than they would for residential property (typically less than six months). Whichever type of rental property you choose to invest in, doing your research and ensuring that you take the proper steps to make your property a success will greatly increase your chances of gaining a secondary income from your investment. This secondary income can allow you to purchase more rental properties, all while diversifying your investment portfolio and building your wealth.

The proper steps to take to ensure that your rental property will be successful depends on the type of property you choose to invest in. However, for any type of property, where it’s located is probably the most important factor determining whether or not your property will turn a profit. No matter what type of rental property you invest in, you’ll want to make sure that it’s located in a fairly accessible place that is seeing or is projected to see economic growth. People tend to want to rent places that have access to a variety of things, whether it’s recreation, entertainment, and good schools (for families) or high traffic areas (for businesses).

#2: You Have the Option of Hiring a Property Manager

Becoming the owner of rental property means that you’re the landlord— whether it’s a residential property or a commercial— and all of the responsibilities of a landlord fall on your shoulders. This can be particularly challenging, especially if you have a full-time job or if your property isn’t located in the same city as your primary residence. Fortunately, you can hire a property manager to do all of the grunt work for you. This will give you more time to focus on other matters, whether it’s your primary job, family, or other endeavors. Just make sure you hire a property manager that you trust because their work is still a reflection of you.

If you choose to remain the property manager, just keep in mind that it’s important to be responsive to your tenants, whether they’re a family renting a residential home or business professionals renting an office space on commercial property. Proper communication skills are one of the keys to being a successful landlord, and you’ll want to gain a reputation for being a good landlord if you want to invest in more rental properties.

#3: It’s Easy to Get Started.

Even though the real estate market is currently seeing lower prices on all types of properties, it can still be pretty expensive to get started investing in rental properties. Fortunately, there are companies that offer rental property loans to help first-time and seasoned investors get started with and expand their real estate portfolios. Keep in mind that some lenders may require more information than others, so do your research when looking to partner with the right lending company. Every investor’s goals are different, so choose a lender that will help you reach yours.

Like with any investment, it’ll take some time to see a profit. Just be patient and trust that your research and hard work will pay off, allowing you to become a successful real estate investor.

Looking For Easy Extra Income? 7 Ways to Earn Money With A Pick-Up Truck

Last Updated on By Leave a Comment

When it comes to working vehicles, there are none more reliable than a pickup truck. With powerful engines, flatbeds, and the ability to tow heavy trailers and machinery, pickup trucks are the go-to vehicle to get any job done. Pickup trucks are one of the versatile vehicles on the road today, and with a little hard work, they can help you make tons of money.

The following are all business ideas that you can start immediately, as soon as you acquire a truck: for side hustles, you may want to consider renting one instead of purchasing one, especially if your budget is tight at first. Whether you are looking to make some extra with a side hustle or start a new career, here are the best ways you can start making money with your pickup truck today.

Junk Hauling Service

You’d be surprised how much money people are willing to pay to get their old furniture and belongings out of their house. Take away everything from mattresses, desks, filing cabinets, and more. All you need to do is load up the truck, drop it off at your local dump, and you can make a nice chunk of change while offering a helpful service.

Construction Work

One of the obvious ways to make money with a pickup truck is by working in construction. Pickup trucks are the perfect vehicles to carry heavy tools, equipment, and materials. Consider starting your own construction company or looking up odd jobs on online service websites like craigslist.

Moving Service

Professional moving companies can be expensive, and many people aren’t willing to pay such high prices, especially if they are just moving down the street or across the city. Using your pickup truck, you can provide affordable moving service to your friends or family that are looking to relocate. With a pickup truck, you can fit almost everything in the back of the bed so you can make fewer trips between houses.

Delivery Service

More and more people are shopping online, and according to the Bureau of Labor Statistics, delivery drivers are in high demand. Luckily, a pickup truck can serve as the perfect delivery vehicle. Consider delivering furniture, appliances, packages, and food. You can even sign up to work with major companies like Amazon and use your own truck. Since trucks have a ton of storage space, you can hold more deliveries than the average vehicle and essentially make more money.

Landscaping Company

Another great way to make some consistent cash flow with a pickup truck is to start a landscaping business. Like construction, you’ll have enough room and torque to carry heavy tools, lawnmowers, and materials. An easy way to break into the landscaping industry is to offer easy services like mulching beds, cleaning up leaves, and planting flowers.

Towing Services

Sometimes people rent trailers or boats for the day but don’t have the right vehicle to tow them with. Using your pickup truck, you can offer your services as an easy way to make some extra cash.

Snow Plowing

Trucks are known for both their versatility and durability. Why not use that to your advantage? If you live in an area that gets heavy snowfall in the winter, consider buying a plow and starting a snow removal service. People are willing to pay top dollar not to have to shovel their driveways. The best part is you will only have to work once it snows, and you can make a full week’s paycheck in one day.

Resell Items

A creative way to earn some money on the side is reselling used items. Use your pickup truck and drive around to different yard sales and look for the best deals. Using a pickup truck allows you to buy more items and larger things people can’t carry in a regular car. You can then easily fix them up and sell them for a profit on eBay, craigslist, or the Facebook marketplace.

Start Making Money Today

There is nothing like earning a little cash on the side to push your way towards financial freedom. There are plenty of lucrative ways to use your pickup truck today.

Construction Site Hygiene: How to Do It Right

Last Updated on By Leave a Comment

“Construction site hygiene” – this phrase might evoke the image of workers covered in cement dust whilst wearing their hard hats and washing their hands at the end of a busy day. However, there’s more to construction site hygiene than just the washing of one’s hands.

Construction site workers must adhere to enhanced hygiene practices, especially with the reality of COVID-19 now part of the new normal. Maintaining the health and safety of construction workers should be the priority of contractors or leaders during the pandemic crisis to minimize the risk of infections on worksites. By encouraging the proper practice of hygiene on-site, you benefit from fewer sick days and more productive workers.

From installing a porta potty to holding frequent health and safety seminars, construction project leaders must take the hygiene of their workers seriously.

how to improve safety on construction site

Hygiene Practices: Important Part of Worksite Safety

At construction sites, hygiene practices are important parts of any workplace safety procedures. Workers do face the following hazards:

  • Poisonous plants
  • Infectious animals
  • Mold/fungi
  • Bacteria
  • Bloodborne pathogens

Frequent hand washing and other hygiene protocols keep workers from contracting diseases through cross-contamination. According to The National Institute for Occupational Safety and Health (NIOSH), over 13 million workers in the US are exposed to airborne chemicals and harmful liquid substances that can easily enter the bloodstream through abrasion or cut or easily absorbed through the skin.

The Occupational Safety and Health Organization recommends employers provide washing facilities for workers who are handling harmful substances, such as herbicides, coatings, and paint. While towelettes and hand sanitizers can help clean hands, they are not enough to clean hands. Soap and water remain the most reliable option when it comes to hand washing.

There are cases when showers are required, especially when workers must remove their personal protective equipment (PPE). As per OSHA, employers must make shower facilities, towels, and soaps accessible to all workers.

Since construction workers face risks beyond physical injuries, it’s important for employers to protect their teams by implementing easy and effective hygiene solutions.

How To Maintain Sanitation At Your Construction Site

Provide Them With Enough Water

Construction work is often intensive, which is why workers are prone to dehydration. Keep your employees hydrated by providing them with adequate drinking water. The containers should be fitted with a tight cap, clearly marked, and equipped with a tap. It helps to supply clean containers for disposing of used cups and storing unused cups.

If you want to reduce your carbon footprint, consider providing your workers with environmentally friendly disposal cups. Also, make sure to label all outlets and containers so that workers will know which water can be used for drinking, washing, or cooking.

Provide Showers

Shower facilities let your workers clean themselves after dealing with harmful construction materials or before they go home.

To address their showering needs, look for companies that offer shower trailers that you can customize according to the preferences of your employees. These trailers often come with water tanks for hot and cold water and are ideal for construction sites that don’t have running water. Just provide the team with body soap, hand soap, paper towels, and hand cloths.

If there are both male and female employees working on-site, provide separate shower trailers for them.

Make sure to place the shower stalls near the worksite for the convenience and comfort of your workers.

Set Up Portable Toilets

Clean, safe, and well-placed toilets should be a priority when it comes to construction site sanitation. Standard urinals and portable toilers are cost-effective ways to meet the restroom needs of your workers. For increased efficiency and comfort, choose portable toilets with cooling and heating amenities.

The number of portable toilets needed on-site will depend on the number of workers reporting to you. According to OSHA, employers must provide at least one toilet in an area with 20 or fewer workers.

Set Up Changing Rooms

If your employees wear PPE or any protective clothing, supply changing rooms. Ask your shower stall provider if they provide changing rooms or if they can tailor the trailer with a room. You can also ask for another trailer to serve as your workers’ changing rooms.

Provide An Area for Hand Washing

Lastly, don’t forget to install handwashing stations close to the construction site. These stations ensure that your workers will always wash their hands, which is a must especially for workers who deal with hazardous waste disposal.

Sanitizing and handwashing stations are equipped with soap, water, and paper towels. These may also include alcohol, sanitizers, and antiseptic that eliminate germs 100 percent.

Construction workers face risks beyond physical injuries. By promoting hygiene in the workplace, you can help decrease contamination while keeping your workers happy and healthy.