What do you need to start a bitcoin investment?

• A bitcoin exchange – You can find a centralized exchange or a peer-to-peer exchange.
• Personal identification documents – If you’re buying bitcoins through a broker, they may not need to get any financial details since the broker will most likely have it on file.
• Your bank account’s information
• Internet connection on your mobile or computer that is both safe and dependable

Steps to follow

1. Participate in a Cryptocurrency Exchange

You must choose an exchange to start buying bitcoin. There appears to be no formal “Bitcoin” corporation since Bitcoin is an open software technology, however, there are several platforms that accept Bitcoin transactions. Find a good exchange that provides you with all the trading facilities.

2. Open a bitcoin account

Now, you have to register with the exchange. There a small verification process is done. It doesn’t take much of your time. After registration, a bitcoin account will be opened. This is the account from where you will trade.

3. Purchase a Bitcoin Wallet

You should have a bitcoin wallet where you store your security pins or keys. Those keys are the only access to your bitcoin holdings. You can buy a wallet online. Otherwise, some exchanges provide wallets for their users. Whatever you choose, try to have a cold wallet that doesn’t require an internet connection to be safe from scams.

4. Connect a Bank Account with Your Wallet

For transactions, you must link your bitcoin account to a savings account. And then, you have to transfer some funds like fiat money to your bitcoin wallet.

4. Buy the Bitcoin

After you’ve linked it to a direct deposit, you’ll need to keep an eye on bitcoin pricing and make informed decisions. You can buy bitcoin in two ways. One is called a market order while the other one is a limit order.

How to follow the performance of bitcoin investments?

Following your purchase of bitcoin, you can engage in day trade with your coins, which is manipulating the market cryptocurrencies with some other Bitcoin owners via a cryptocurrency exchange. Keep the bitcoins for perhaps a long time if there is a chance for a price hike. Make online purchases with your bitcoins.

What should your initial investment be?

To start investing in cryptocurrency, find the best crypto site for you. Remember, investors always say to just invest less than 5% of all your life savings in crypto trading because risks are involved here. Also, make a diversified portfolio with bitcoin and cryptocurrencies and also with some stocks and gold. Taking into consideration, you won’t waste more than 9.5 percent to 11% of your investment portfolio on crypto coins.

Is it for you?

Bitcoin is a dangerous investment, so consider your objectives and approach carefully before making a decision. Although Bitcoin’s price has risen considerably over time, not everyone who has purchased it has reaped the benefits. Because cryptocurrency markets are so unpredictable, finding the “perfect time” to purchase or sell is practically impossible – the price could surge moments after you sell or fall seconds after you buy.

Discover more on how to make investments if you’re unfamiliar with them. If you do decide to buy bitcoin, you’ll have to make certain technical and logistical decisions.

Bitcoins are digital assets that also are usually created using blockchain, an encrypted computer networking technology that allows them to be exchanged without the need for a centralized power like a bank. Cryptocurrency is traded on major exchanges, but they are not regulated in the same way that shares and other conventional investment products are.

Various cryptocurrencies are routinely developed for specific purposes. Bitcoins, for instance, were designed to be a payment system. Other cryptocurrencies, like Ethereum, are utilized for more complicated transactions.

Peer-to-peer programs allow you to buy bitcoins immediately from other Cryptocurrency owners, just like you would on Craigslist. When buying Bitcoin from individuals, exercise extreme caution.

Conclusion

So, if you’re considering purchasing Bitcoin or another cryptocurrency, consider the risks you may face and the advantages they can give you. In this aspect, application can give you a secure investment experience.

The post How Should You Invest In Bitcoins? appeared first on Web Updates Daily.

In this context, the borders of the banking sector are changing, so much so that “the historical security model of recent years must be reviewed to take these new elements into account”, insists the Skills Forum, which brings together experts in security systems. Information (ISS) and business continuity (CA) of the financial center.

“The multiplication of customer journeys backed by digital technology exposes customers to more phishing. Once the victims are infected, malware collects their personal or banking data. These may be exploited for the purposes of resale or financial fraud,” recall the authors of the Skills Forum report.

500% increase in mobile attacks Proofpoint found that smartphone attacks increased by 500% in 2021. Another study by Jamf notes that one in 10 mobile phone users fall victim to a phishing attack!

This explosion confirms that cybercriminals exploit this change in behavior to steal sensitive data. A greater volume of sensitive data exchange (for example, supporting documents sent as attachments for a loan or life insurance application) or even the use of mobile banking applications increase the attack surface for individuals.

But a document incorporating malicious code could also infect an adviser’s terminal, then spread to the establishment’s IS. To respond to all of these challenges and threats, new concepts have emerged, including that of “  Zero-Trust  ”.

Identity and Access Management (IAM) is the crucial security brick among the pillars of Zero Trust. Any access to a resource must be secure, dynamically controlled, monitored and supervised in real-time.

The entire financial sector must now think even more seriously about the response it can provide to cyber threats, transforming the way of considering customer relations, the relationship with institutions and the level of trust placed in the information system.

Also Read: Zero Trust Securing Communication Between Workloads In The Cloud

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For this reason, technological solutions focused on improving productivity and accelerating workflows have been among the most demanded in recent years, especially in the latter. And RPA has been one of them since systems such as ERPs fall short when addressing specific procedures, such as those of “accounts payable”, one of the processes that consume the most time and with a high chance of error rate.

Manual accounts payable processes are not only tedious, but they are also quite chaotic, especially the validation part: fewer and fewer paper invoices arrive at companies, but those that arrive must be digitized to be later processed. Next, the information must be classified and sent to the different control centers that the company has to proceed with after payment. This simple procedure can take days and weeks since employees must do each step manually and, in addition, combine this work with other tasks of the department. This can lead to failures and even “lose” some bills, with additional expenses.

RPA In Finance Higher Productivity In Less Time

RPA solves a large part of the problem that we explained to you before. How? With end-to-end automation of financial processes, that is, from start to finish, you can:

• Digitize the important values ​​of the paper files utilizing OCR and extract the key information of the invoices: The invoice arrives in digital format to the system that, thanks to the data reading, makes the first screening, returning those that are missing some field predefined as “mandatory” (CIF, VAT percentage, date of issue, etc.).
• Import the information in folders and direct it to the corresponding departments: With data extraction, invoices are classified according to parameters: by order of arrival, by expiration date, by amount, by type of company, etc.
• Once this is done, it is sent to the corresponding area, which will receive all this information collected in a document for final validation by the employee.
• Monitor folders so that processing is automatically activated when a new invoice is detected so that the flow begins again.
• Please verify the information entered in the databases, cross it, facilitate the management of resolutions, and avoid the blocking or loss of invoices.

And this is only one process since with RPA, and you will be able to automate financial operations of the entire area, obtaining numerous advantages, including:

• Integration with other systems and functions: RPA is a technological solution perfectly compatible with any application you have already implemented in your company. From blockchain, ERP, CRM and even own programs. RPA works in conjunction with these tools.
• It eliminates almost 100% manual errors: Automation allows you to stop making manual errors, that is, failures that occur because the task is repetitive and tedious. This also means a risk reduction since sensitive data is handled in the financial area and capital.
• Increased security: With the automation of financial processes, the traceability and integrity of the data is guaranteed. Exceptions can be established when vulnerabilities are detected, which require manual and human action, thanks to hybrid robots.
• Time and cost savings: Financial processes require a lot of execution time by the work team, reducing productivity. Minimizing this execution time with software robots is possible, increasing the number of tasks performed at a lower cost.
• Financial and accounting regulatory compliance: The finance department is one of the most sensitive regulations. Some regulations change depending on the country of origin or destination and deadlines and legal updates. Sofbots allow the standardization of information, guaranteeing regulatory compliance.
• Analyze the information and extract knowledge: Due to the liberation of the time dedicated to doing tedious and repetitive tasks, the staff can begin to carry out functions of more excellent value such as financial analysis, economic projections, market studies, reports, etc. In short, observe and evaluate the data to extract knowledge from them.

Digitization continues to accelerate our day to day while changing it. Everything is in full swing with processes, people, and even the way of understanding the markets. RPA technology has come to stay, with more and more businesses committed to combining technology and humans in their teams.

The post Automation Of Financial Processes With RPA appeared first on Web Updates Daily.

Your income

Housing loan EMIs can reduce your monthly budget by 30-40%. That’s why your monthly income is a deciding factor in selecting a loan amount and tenure. A longer tenure means lower EMI payments, while a shorter tenure means you will pay bigger EMIs.
Here, you can use a home loan EMI calculator to decide on a monthly instalment you can comfortably pay. If you have an income where you can set aside a sizeable amount for repaying the loan every month, you can choose a short tenure. This way, you’ll be debt-free early.
Alternatively, if you want to reduce your monthly debt burden, opt for a long-term loan. However, in the longer term, the total amount spent on interests will be high.

Rate of interest

The interest rate on long-term loans can be lower since they are typically spaced out over 5-30 years. Whereas for short-term loans, lenders may charge higher interest rates to compensate for the smaller tenure.
Using a home loan calculator, compare between different loan terms and interest rates. This, in turn, will help you figure out and compare the total cost and EMIs of your short and long-term loan options.

Down payment amount

Since housing loans typically cover 75-90% of your property’s total value, you pay the remaining 10-25% as a down payment. If you have adequate funds in your kitty to make a larger down payment, your EMIs decrease significantly. Here, you can choose a shorter tenure to quickly close your home loan. Similarly, you can opt for a longer tenure to conveniently shell out smaller EMIs and repay the loan.

Property mortgage

Since home finance is a secured offering, your property stays mortgaged with the lender till you repay the total amount. Hence, the longer the tenure, the longer your property remains mortgaged. In comparison, a short loan tenure allows faster debt repayment so that you can release the mortgaged property early.

Conclusion

To sum up, the longer you take to repay your loan, the higher will be the interest payable. If you want smaller instalments and aren’t concerned about paying a higher interest amount, the long term option suits you. In contrast, if you wish to get debt-free early repaying a high-interest loan, then the short term is ideal for you.

Thus, both long-term and short-term loans have their own sets of advantages and disadvantages. Your choice should depend on your repayment capability and financial fitness. Consider the abovementioned factors and compare home loan interest rates from multiple lenders before selecting a loan tenure.

The post What is Best for You? – Short-Term or Long-Term Home Loan appeared first on Web Updates Daily.

Accounting, today, is more important than ever because all your stakeholders have your financial data available with a click on their computer. Businesses pay close attention to maintaining their accounting books and preparing their financial statements to be authentic and impressive. However, even in small companies, you often need qualified accountants to help you out. Not everyone is skilled enough to prepare accounts with the standardized procedure. And if the accounting gets messed up, there are significantly fewer chances for your company to prosper or grow.

Today, many firms hire professional accountants as permanent workers. Some outsource them to manage their book-keeping and prepare their records. It is when students who wish to prosper in the field polish their skills and improve their networking. An MBA with accounting concentration will help them excel in financial accounting, auditing, and taxation courses. These courses will help them develop critical thinking skills, which will deem useful in making optimum business decisions.

Better Inventory Stock

Most businesses looking for further expansion are dealing with stock-on-hand. It can be pretty challenging to keep up with the inventory. However, with proper inventory records in your accounting books, you can easily manage refilling before it runs out. You would know what’s going to waste and what your company is selling the most, and you can also count leftover items and the ones you need to add. The work becomes even easier with the help of accounting software which can make warehouse management a piece of cake and keep you updated about your stock.

Content Investors

Gaining your shareholder’s trust should be your primary concern, especially if you are interested in expanding your business. Their investment will help you generate capital which will help you grow by investing further and buying more assets. Investors, however, keep a close eye on the company’s accounting books. If the records prove that the company is profitable enough, they will only give their money to help it prosper. A similar situation arises when it comes to financial institutions. They too only allow your company loans when they see good profits. Hence, accounting is essential to help you grow your business.

Satisfied Customers

Accounting is not only inter-company transactions with suppliers and organizations; it also heavily impacts customer satisfaction. For example, suppose you send out incorrect and incomplete invoices. In that case, there is a higher chance that you will not manage your account receivables. Sending out erred statements can confuse the customers, and they may not pay you on time. Instead, it will lead them to question your credibility and professionalism. Accounting also enables you to track due dates on invoices and add or subtract discounts for your customers accordingly. As a result, you will know your competition and attract more customers with discounts on early payments to improve your account receivables. 

Informed Decision Making

Critical thinking is essential in ensuring the efficiency of businesses. It is prompt in decision-making so that you don’t miss out on business opportunities around you. To make informed and well-versed decisions, you should have a good grip on your financial management and accounting. With its help, you can prepare budgets and plan the funding for your expansion programs. Your company’s goal has to have a cost, and unless you know how much it is, you can’t decide. Updated and strategic accounting practices can help you think critically. Accounting will help you analyze historical financial records and present current projections to see the safest investment or loaning option available to you.

Also Read: How To Choose The Best Accounting Consulting Programs For Your Business

Improved Cash Flows

Starting up a new business and not maintaining cash flows is a common mistake many small businesses make. Even if they don’t look as essential as other financial statements, they are the primary source of your information about the cash-in-hand you have left to spend. Businesses are prone to fall in an emergency where it is not easy to liquidate their assets promptly, and cash flows are required. It is also a contributing factor in improving investors’ confidence in your business. Keeping a proper check on your accounting activity will help you determine the cash to expect from customers. What you need to pay for your cash flow management and sales forecasting will assist you in gaining the trust of your shareholders and investors by allowing them to examine your company’s present status.

Smart Marketing

Marketing has always been an essential aspect of business plans. Still, in today’s world, where every business is a rival to another, entrepreneurs are looking for new and innovative ways to differentiate their products. One of the most valuable ways to do this is by using SMART marketing – specific, measurable, achievable, realistic, and time-specific. This type of marketing will help you spread awareness about your business by following the latest trends. As all business units are linked, so are marketing and accounting; hence, you will need a sturdy budget to construct an efficient marketing plan. You must update your accounts, and you should have a budget to know how much you can spend and stay SMART.

Conclusion

Growing a business is not an easy task, and neither does it happen within a day. Instead, it requires long-term planning and risky decision-making. Excellent and effective accounting helps your business stay up-to-date with its financial situation and choose opportunities accordingly.

The post How Can Accounting Help You In Growing Your Business? appeared first on Web Updates Daily.

List of Coronavirus Emergency Loans

Some of the coronavirus emergency loans include:

Nav

Nav through a small business grant contest is giving grants to a small business that tells a story of opportunity and preservation when facing an ongoing challenge.

Chamber of Commerce of the US

The Chamber of Commerce of the US came up with an initiative called Save Small Business Fund to offer grants of up to $5,000 to employers throughout the country.

Facebook

Facebook is offering Grants totaling $100 million will be distributed to 30,000 small companies.

Main Street Lending Program

This supports mid-sized and small businesses that were doing well before coronavirus by offering them loans payable in 4 years.

Local and State Coronavirus Small Business Assistance

States have come up with ways to assist small businesses in their areas. The states are:

Colorado

Businesses that were hit hard by the coronavirus are eligible for cash grants from the Denver Small Emergency Relief program.

Utah

Small businesses are qualified to get up to $20,000 in loans for zero-interest payments that can be delayed for up to 12 months if you use the Utah Leads Together Small Business Bridge Loan program.

California

SMEs are liable for loans with no interest via the SA, Emergency Loan Program. Micro Enterprises and companies that are in charge of providing jobs are eligible for emergency microloans.

Illinois

Small companies in Chicago can qualify for loans of up to $50,000 with a five-year repayment period via the Chicago Small Business Resiliency Fund. Your revenue before coronavirus will be the determining factor of the amount of loan you can qualify for.

Louisiana

Organizations in Louisiana will apply for credits up to $100,000 with no interest and no installments for the initial half year through the Louisiana Loan Portfolio Guarantee Program.

New Hampshire

Small businesses can get funding from the Manchester Small Business Recovery Loan Fund. They can get loans of up to $25,000 with 2%interest rates.

New Mexico

Businesses can get loans that are repayable in 2 to 4 years with 3% to 10% interest rates from the New Mexico Recovery Fund.

Oklahoma

Little organizations are qualified for zero-interest advances of up to $100,000.

New York

NY, City Small Business Continuity Fund offers 0% attributes up to $75,000 to little organizations to counterbalance deals misfortunes.

Pennsylvania

Small businesses can access loans of up to $100,000 with a three-year repayment period and zero interest rate.

New Jersey

Nonprofits and small companies in New Jersey can qualify for up to $100,000 in funding that can be deferred for a year.

Washington

The Washington SME Emergency Grant Program offers small start-ups up to $10,000 in loans.

North Carolina

Little organizations will get 0% premium advances up to $50,000 without any installments for the initial half year.

Minnesota

Little associations in Minnesota can apply for 0% advances of up to $35,000 through the SME Emergency Loan Program, which has a five-year reimbursement plan.

Kentucky

The Economic and Community Development Initiative of Kentucky will provide up to $3,000 in incentive funds to small businesses.

Florida

The Florida SME Emergency Bridge Loan Program Presents $50,000 in credits to little associations affected by coronavirus. The loans function as a stopgap measure before the company can secure alternative financing.

Connecticut

The state of Connecticut has a program that offers zero-interest advances up to $75 000 or three months of working interest.

Small businesses have benefited from the coronavirus emergency loan through being eligible for loan forgiveness, zero interest rates on the loan, and flexible repayment periods.

According to Lantern Credit, ‘Small business grants allow you to do these things and more. Because grants don’t have to be repaid, businesses can use them to invest in a company’s growth and profitability.’ Grants for small business from Lantern by SoFi have helped the business open new locations, add new product lines and hire new staff.

The post Coronavirus Emergency Loans and Benefits for Small Business appeared first on Web Updates Daily.

Money View emerged as one of the top rate private personal finance companies in India. Money View personal loans are fast, highly secured, and the entire loan application process is executed in a hassle-free manner.

Features and Benefits of Money View Personal Loans

Money view personal loans are jam-packed with potential benefits and features. This would ensure the process of obtaining a personal loan in a secured way.

• Checking eligibility requirements: It would take approximately two minutes to carry out the process of loan eligibility. This requires submission of essential details thereby averting the problems of executing complicated computations to determine how much loan amount the applicant is eligible for.
• Loan Amount: It is up to the applicants to decide the volume of loan amount required. However, individuals could apply for loan amounts between Rs. 10, 000 and Rs. 5 lakhs. Money view would mention the eligibility status and applicants do have the liberty to pick a loan amount.
• Flexible Repayment Tenure: The money view empowers individuals to decide their repayment tenure. The repayment tenure of personal loans may exceed up to sixty months.
• 24-Hour Disbursal: The entire loan amount is credited to your bank account within twenty-four hours of the loan approval process. This helps save the issues of carrying out multiple calls and sending emails to keep track of disbursement status.
• Lower Rate of Interest: Budget-friendly rates of interest are offered at 1.33% per month by taking into consideration the financial constraints of an applicant.
• Paperless Documentation: The whole process including documentation and repayment is executed in digital format. As a result, you need not even think about the submission of photocopies of relevant documents and multiple trips to banks.
• Offering Loans on Lower Credit Score: Money view had recently launched an internal credit score model that rates creditworthiness based on data points. You could obtain a personal loan at a lower credit score. However, applicants must have secured a CIBIL score of 650 or an Experian score of 750.

Steps involved to obtain a loan from Money view

• Complete the entire loan application form and upload it to the official website of Money view. It is budget-friendly and caters to the financial requirements of an individual. The interest rate starts from 1.33% per month and the loan processing charges are around 2% to 8%.
• In the case of the Money view, part payments are not allowed and the availability of full prepayment after a period of three EMI’s.
• No extra charges are levied in addition to the interest amount for the duration between loan cancellation and loan disbursement. Even processing fees could be retained.

Eligibility Requirements for Money view Personal Loans

Money view sticks to a broad eligibility criterion to make sure that each applicant could obtain a personal loan online in a hassle-free manner.

• Salaried professionals must earn a monthly income of Rs. 20, 000 and the credit score should range between 1-299. The place of residence could be anywhere.
• Self-employed individuals should earn a monthly income of Rs. 25, 000 and a CIBIL score must be more than 650 with an Experian score of 750.

In addition to the above-mentioned, applicants must be aged between 21 years and 57 years. The monthly income should be directly credited to the applicant’s bank account.

Documents Required While Applying for Money View Paperless Online Loan

Unlike other banks and similar financing companies who request lengthy documentation while applying for a loan. A major highlight concerning the Money view is that you could experience a complete paperless documentation process.

• ID Proof: Government-issued identity proof that mentions the date of birth in the format dd/mm/yyyy is accepted.
• Address Proof:— An authentic and 100% valid document displaying existing address pin code could be submitted as proof of address while applying for a loan. It could be an aadhar card, ration card, or utility bills such as electricity, water, voter’s ID, bank statement/passbook.
• Income Proof: Salaried professionals must hold bank statements of the previous three months in PDF format. It mentions salary credits or previous three month’s salary slips will do. Self-employed individuals should submit the previous three month’s bank statements in PDF format. Or income tax returns of the previous two years will be more than enough.
• Also Read: Secure Your User Accounts With Two-Factor Authentication

Ways to Avoid Rejection of Personal Loan at Money View

• Lower Monthly Income:

At Money View, salaried professionals should earn a monthly income of Rs. 13, 500 and Rs. 25, 000 for self-employed individuals. Apart from that, there are additional conditions attached to the income. You have to make sure that you comply with those requirements.

• Additional Financial Commitments:

The online loan application might get rejected if you have multiple lines of credit. Moreover, a major part of your monthly income is spent on clearing outstanding dues or EMI’s. It consists of home loans, car loans, and credit cards.

• Poor Credit Score:

CIBIL score determines the creditworthiness of an applicant. Money view approves personal loans for those individuals who have secured a minimum CIBIL score of 650.

• Submission of Incorrect Documents:

Accurate documents are mandatory to be considered eligible for the loan. Even though documents demanded by Money view are low, they require accurate and authentic ones.

Conclusion

Money view is a reliable online personal loan portal that offers flexible repayment tenure. Unlike other private finance companies, Money view offers personal loans to both salaried professionals and self-employed individuals at an attractive rate of interest.

The post Top Rated Personal Loan Private Finance Companies in India appeared first on Web Updates Daily.

Establish a Budget

Unsurprisingly, you can never know where your business is heading until you understand its current position. And this is where budgeting comes into play. It discloses revenue, costs, income, and expenses, helping you determine how much money is slipping through the cracks. For instance, you might witness a travel expense whereas employees haven’t been anywhere since the global lockdown. In addition to tracking spending, it puts all information in one place, helping you make better decisions.

So, why not kickstart this year with a competent annual budget? Besides number-crunching skills, you have to be financially savvy to prepare budgets. You can hire a professional accountant, but a better deal would be to invest in yourself. Hence, consider pursuing an online masters in accounting and acquaint yourself with auditing, taxation, and accounting standards. It would help you differentiate between variable and fixed costs while predicting one-time expenditures.  

Moreover, you will learn to combine income sources to account for incomes in your budget. Pulling all this information together will let you generate a budget and determine the overall business profitability. While the company benefits from your expertise, higher education can open doors for professional development. 

Pay Off the Debts

No matter how much capital you invest, every business seeks out external financing to keep the operations running. Besides increasing business liabilities, interest payments consume a massive chunk of profits, which you can utilize for more productive uses. Thus, if you have taken any loans, it is time to pay them and make your company debt-free.
From equipment financing to credit line – list all your debts from the highest interest rate to the lowest. If you any additional funds, try to get some discount and make extra payments to settle the debt. Otherwise, opt for debt refinancing. You can consolidate all your debts – the line of credit, bank loan, credit to secure a lower interest rate.

Create a Reserve Fund

Although analysts predict business risks, they can’t eliminate them once in for all. After all, you never know when a debtor defaults, interest rates decrease, or the market lands into crisis. Suppose you don’t want these external factors to impact business profitability, set aside some money for unexpected expenses. You can create a cash reserves fund to cover financial difficulties that a business might face in the future. It should have enough money to cover at least 12 months of business expenses without revenue generation.
Any idea how to create this reserve fund? Depending on your company size, you can set aside a small chunk of your profits. For instance, if 10% goes to shareholders and 10% for repayments, use 5% for your reserve funds. Nevertheless, if the risk exposure is high, divide the fund into categories. You can allocate some money for market risk to seek financial help when interest rates are high.
Likewise, add some to currency risk to avoid changes in the material costs due to exchange rate fluctuations. In addition to sustaining a financial position, it would give peace of mind since you have a resource to draw in when things don’t go according to the plans.

Account for Inflation

Believe it or not, but nothing could damage your financial goals more than inflation. You might be planning to increase prices by 3%, whereas 5% inflation hits the economy. This increase in price levels will hurt businesses, decreasing demand and profitability. Therefore, you must account for inflation to minimize its impact. Firstly, adjust price levels without comprising on competitiveness. If the inflation rate is 4%, you can increase prices by 5% or 6%.
Secondly, improve your cash flow to ease the financial pressure. You can follow-up on invoices, use electronic payments, or offer early-bird discounts for quick gains. It would improve liquidity while helping you deal with inflation-associated costs.

Explore Investment Options

Undoubtedly, thinking of investments in today’s uncertain market seems like a challenge in itself. But isn’t this what entrepreneurs do, take risks? If you wish to expand your income sources, start exploring potential investment options now. You can crawl into the stock market for stable trading and enjoy moderate returns with minimal risk. Otherwise, explore financial securities or instruments to enjoy higher returns with higher risk.

However, no matter how lucrative it seems, don’t make the mistake of investing all your money in one stock or instrument. If one company goes bankrupt, you could lose all your money. Therefore, use your analytical skills and diversify the investment portfolios. 

Final Thoughts

Usually, people set unrealistic goals far outside the bounds of what they can achieve and position themselves for failure. Financial plans have to be something you can realistically pull off in your current situations. It could be something as small as overcoming a liquidity crisis or something big as paying off accumulated debts. You have to keep taking consistent steps throughout the year and jump on the path to success.

Also Read: Cloud Computing Benefits To Your IT Budget

The post Steps to Setting Your 2021 Financial Goals appeared first on Web Updates Daily.

Unlimited access to the most coveted luxuries one could think of – dinners on yachts, island vacations in the Caribbean’s, golfing on the most verdant of links, personalized concierge services for all your conveniences – all this and many more domestic and international privileges accompany high-end premium credit card memberships.

Some banks also extend credit against credit cards when a customer is in urgent need of cash. After a look at your pre-approved credit limit, the loan is credited to your account and is paid with interest on a monthly EMI basis. 

The interest rate is a little different from that levied normally, so the total money to be paid back might vary (for instance, calculate credit EMI via the credit card EMI calculator on a normal car loan, and a loan against your credit card to check which one’s better). 

But like always, the top echelon has always been an exclusive club. While some premium credit cards are only approachable via invites, a majority of banks offer premium credit card plans do so contingent on steep eligibility criteria.  

More often than not, the criteria are almost similar. The only thing that varies the most from card to card is the annual income or income tax return filed by the applicant.  

But sometimes, one can find other differences too, such as a higher minimum age set by the bank keeping in mind the repayment capabilities of applicants.  

Also Read: Main Benefits Of Human Resources Software

HSBC Bank

HSBC Bank has been in the game long enough to be regarded as one of the best in the business. This international bank has two credit cards working in the premium segment in the country, namely, the HSBC Premier Master Card, and the HSBC Advance Visa Platinum Credit Card. 

Premier Master Card

The Premier Master Card offers a variety of benefits and privileges but is available only to those who maintain a Premier Account at HSBC. One or more of the following criteria has to be fulfilled:

1. A quarterly Total Relationship Balance of Rs.40,00,000, or
2. A mortgage disbursal of Rs.1,15,00,000 or more, or,
3. Have an account with a monthly salary of Rs.3,00,000 or more under the HSBC Corporate Employee Programme

Advance Visa Platinum Card

The Advance Platinum Card is offered to HSBC Advance customers, defined by the following parameters:

1. A quarterly maintained Total Relationship Balance of no less than Rs.5,00,000 in a mix of savings, current or Demat format, or through HSBC India life insurance policy, or
2. 30,00,000 worth of mortgage relationship, or,
3. An HSBC Corporate Employee Programme account with a monthly credit of Rs.50,000

Visa Cashback Card

The Visa Cashback Credit Card is a shopping and lifestyle credit card, primarily with exciting reward points and vouchers. An Amazon welcome voucher is followed by discounts on subsequent spends on Swiggy and Amazon, with 1.5% cashback on all online expenditure. 

It comes with a small membership fee of Rs. 750, which is waived off if the annual expenditure breaches the Rs. 1,00,000 mark. 

Indian residents between the ages of 18 to 65, residing in either Delhi, Bangaluru, Noida, Pune, Chennai, Hyderabad, Gurugram or Mumbai, earning a total of Rs.4,00,000 annually are eligible candidates for this card. 

Axis Bank

Axis Bank is considered one of the best private banks in the country. They have a large penetration in the market and add freshness with their products and style. 

Vistara Infinite and Signature Credit Cards

Launched in partnership with Vistara Airlines, these two credit cards are targeted towards frequent fliers and offer benefits like complimentary business and economy class tickets annually and membership to Club Vistara. 

Any resident of India between the ages of 18 and 70, with an annual income of Rs.6,00,000 and above is eligible to apply for these two cards. 

Signature Credit Card and SELECT Credit Card

These cards are a rung above the Vistara cards and offer both flying and shopping benefits with lounge visits and reward points on domestic and international spending. 

These cards can be availed by resident (a non-resident for the SELECT Card only) Indians between 18 years and 70 years of age, with annual earnings of Rs.9,00,000 or more. 

MAGNUS Credit Card

At the top of the lot is the Magnus. Residents of India with an annual income of Rs.18,00,000 can apply for this high-end credit card membership which entails promises of elevated comfort and privileges, food vouchers and prestigious club memberships, reduced interest rates on loans, and lows a discounted mark-up fee on international transactions, among other things. 

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ICICI Bank

The ICICI Bank Emralde Credit Card membership entails opulence of the most sublime kind. The target group for this card is persons earning a minimum of Rs.3,00,000 a month, or Rs.36,00,000 per annum, or those having filed an Income Tax Return of Rs.30,00,000 or above.
The privileges and benefits are many, including complimentary golfing rounds, spa visits and birthday celebration vouchers at one of the best hotel chains.

HDFC Bank

HDFC Bank has a wide variety of premium credit cards for its multi-hued clientele. Their cards specialize in business benefits, shopping benefits, travel privileges, and other categories as well. 

Regalia Credit Card

This card is loaded with a free Zomato Pro membership for a year, 12 complimentary visits to domestic airport lounges, and six visits to international airport lounges, other than rewards points on expenditure. 

The card is open to salaried Indian nationals (21-60 years) earning more than Rs.70,000 a month, and self-employed persons (21-65 years) having filed an income tax return of more than Rs.8.4 lacs in the previous year. 

Diners Club Privilege Card

Ranked at the top of many lists is the HDFC Diners Club Privilege Card. This is a total package, arriving with complimentary memberships to Amazon Prime, Zomato Gold and Make My Trip Double Black. It allows the holder international and domestic golfing rounds and concierge services. 

To apply, a salaried Indian national must earn more than Rs.70,000 a month, and self-employed Indian national must have an ITR of more than Rs.8.4 lacs. 

InterMiles HDFC Bank Diners Club Credit Card

Aimed for frequent fliers, this card boasts of an InterMiles Gold membership which offers flight booking discounts and bonus InterMiles on spends above a stipulated amount, and unlimited access to domestic lounges all over the world. 

To be able to enjoy these benefits, an Indian national must either earn a salary of more than Rs.1,75,000 a month or file an ITR of more than Rs.21 lakhs per annum if self-employed. 

Conclusion

Our list breaking down what it takes to be eligible for some of the best premium credit card in India ends here, but don’t worry if you couldn’t find the right card here. Many banks do not list their eligibility criteria explicitly on their sites. 

One can always contact the bank for the same. Other than that, one must have some crucial documents in place before applying for a credit card. Namely, the PAN Card or Form 60, Aadhar Card, and a previous credit card statement, if applicable.

The post Criteria For Being Eligible For A Premium Credit Card: Simplified! appeared first on Web Updates Daily.

There are several ways you can reduce your debt:

• It’s possible to reduce the outstanding principal amount;
• It’s possible to lower the interest rate;
• The payback term can be extended.

When choosing the most appropriate variant, it’s necessary to consider such factors as the initial monthly payment, the type of credit, the term of the loan. It’s also necessary to take into account how much money you are able to pay right after the settlement. It’s clear that it’s rather difficult and intricate to figure out by yourself what is the best way out. The experts of DebtQuestUSA know everything about successful debt reduction. They are experienced enough to consider all the factors and pick up the most efficient solution to meet your needs.

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Common Types of Debt Reduction

Depending on your needs, you can experience the following types of debt relief:

Bankruptcy

It’s the most critical method. The experts of DebtQuestUSA offer it only to those clients who have no chances of repaying the loan. This procedure is rather complicated and may take several months. It’s of prime importance to consider the laws of the area you live in while they differ from state to state;

Creating a debt management plan.

Very often, people are trapped with debts because they have the wrong payment schedule. A debt management plan is an ideal solution for clients who have unsecured loans. There is one important thing you should take into account. When it comes to credit cards, you are to close your account until you fully complete the plan. It means you can’t take another credit while you are paying in accordance with the plan;

Debt Settlement.

It’s one of the most challenging and overwhelming ways of debt reduction. You should experience it only as a last resort. The process may last years. If you choose this variant, you should stop paying all your debts. But instead, you are to accumulate money on your account. The creditors are supposed to accept lump-sums from you. If you choose this method, you should be ready for constant discomfort and collectors’ calls;

Consolidation

This variant becomes more and more popular. Smaller loans are organized into a large one. Your task is to repay only it. The main advantages are lower interest rates and a convenient payment schedule.

No matter, what variant you choose. The specialists of DebtQuestUSA provide you with detailed and comprehensive information about each option.

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The post Debt Reduction Service: An Effective Way to Get Quit your Debts appeared first on Web Updates Daily.