It’s a common belief among people achieving responsible use of cash cards is impossible. Although some people find it hard to handle cash cards responsibly and instead opt to use cash, most people use their cash cards responsibly. There are so many reasons why you need to start using cash cards or credit cards instead of using cash. They include:
Protection on no-return items
One of the good things about using cash cards to pay for goods is that in the case of situations like when you are overcharged, your credit card company can help so that you can get refunded. Most stores don’t also allow returns. As a result, in the case of any problem with the product that you have purchased and paid for in cash, you will be out of luck.
However, when you use cash cards, you have the option of filing for dispute. Just because a store or company says “no returns” to an item does not mean that you should pay for it anyway even if it does not work. By paying for such items using cards, you have the right to be refunded back your money when you return the product.
Cards are convenient
Thanks to cash cards, you don’t have to walk around with a lot of cash in your wallet or stopping at every ATM. Cash cards allow you to make purchases anywhere making it a convenient way of making purchases.
Tracking your finances
Your cash card companies will offer you with reports and statements at the end of each month. You will thus be able to track your expenditure and financial habits. These reports can be your best financial arsenals. On the other hand, when you make purchases using cash, it will be very difficult to track your finances.
By using cash cards, you will be able to get rewards for making purchases with the card. Some cash card companies offer points while others offer cash bonuses when you make certain purchases with your card. For example, if you pay for gas using your card.
When you use cash cards, you will be building your credit. By using cash cards responsibly and regularly, you will be increasing your credit score. If you have a high credit score, you will be eligible for bigger purchases, and you can qualify for that mortgage that you have always wanted.…
The economy in today’s world is not the most conducive for succeeding in business. There are so many uncertainties that can cause a company to crash and one main concern is the lack of finances. For any business to develop and expand it needs a healthy cash flow, but sometimes that is just not possible. Without a stable cash flow, companies are forced to get into debt with banks and lenders but now you have another option.
Invoice factoring services
If you are a company that supplies products or a service to other firms or governments you can take an advance on the money owed to you on any invoices by assigning them over to a factoring company. If you want to learn more about factoring companies, continue reading.
How does it work?
When you supply goods to another entity, you may have to wait for a while before you can get the payment. In this time, if you do not have enough cash in your company, you may not be able to take on or complete other projects. But you can get an advance on that invoice ranging from 65 to 98% depending on many factors from companies that provide invoice factoring services.
You will not have to get into any long-term liabilities with financial institutions anymore as it will be money that is owed to you that you are getting. There will be some fees, and you will have to give the factoring firm the debt at a discounted rate.
Why is it better?
Firstly, you will not have to pay huge interest rates to banks or provide any collateral. There are many options include recourse factoring and non-recourse factories that can help you in many ways depending on your situation. However, you are advised to read the fine print before going ahead with any type of factoring.
Which companies can use this service?
This service is not available to all industries, and many services cater to only one or a limited few industries. Some industries that can benefit from this service are construction, healthcare, manufacturing, agriculture, textiles, food and beverage to name a few. Companies that concentrate on trucking factoring will even offer this service to businesses that have fleets of vehicles and even individual truckers so that they can keep their fleet, maintained and running until the payments on deliveries come in. Have a look online, and you can also find a factoring service for your companies needs.…
Most businesses operate under loans at one time or another. Additionally, most struggle to repay back with some even failing to do so due to various financial failures. Therefore, they end up getting bad credit scores. Such a situation will have adverse effects on the business in future until it puts all the efforts to push up the credit score. As much as getting small business loans canada bad credit would be possible from selected lenders; most others will shy off to help. So, below are the various ways to avoid bad credit score as a business.
How businesses should avoid bad credit score
Avoid borrowing where possible
With better planning, some situations do not require one to borrow money for the business. Business merchant loans are easy and fast to acquire without much scrutiny and thus they usually attract most business persons. Only borrow when there is no other option left, and the issue must be resolved. One can also weigh whether the issue at hand is worth borrowing or not.
Lend the business yourself
If you have your savings, it is desirable that you lend the business instead of using lenders who will want a repayment with interest. However, most business people usually prefer the business to run separately from them and thus, they will not want to mix the two matters. However, look at it this way; you are just a lender, who does not need interest during repayment.
Plan to pay loans in time
Once the business has a loan, it is not wise to start other projects which may compromise on the loan repayment plans. Therefore, plan well on how the business will get the agreed amount per month. Without fail on this, the business credit score will remain unaffected. Do not miss to do transfer even with a single day as this can affect the score. Actually, the best way is to automate the procedure through your bank.
Use credit score repair experts
If it has come to the worst, then do not hesitate to use credit score repair experts. They will offer professional negotiations with your lender and start pushing the score back to safe ground. It is a significant risk for business if this score is compromised. Again hinder to the advice these experts will give you, and the credit score will climb back within no time.
The above tips will help any business person to enjoy the best credit score for their business throughout.…
Being in debt is one of the most uncomfortable situations known to man. One way of coping with debts beyond your control is debt management. Statistics shows that majority of those suffering from depression and other stress-related diseases have succumbed due to poor debt management skills. This is where an IVA comes in. If you are asking yourself What is an IVA? No worries, you are at the right place.
What is IVA
On the brighter side, some parameters have been put in place to curb the effects that this monster called debt drags along with it. One of them is the Individual Voluntary Arrangement, commonly known as the IVA. This is a payment plan mostly used in England and Wales, as an option for those trying to ward off the clutching jaws of bankruptcy. What are the tell-tale signs that one is in dire need of IVA?Signs you need IVA for debt management.
When you can save some money aside every month
This is to enable you organize yourself financially and take the next big step towards financial freedom.
When you prefer not to be in direct contact with the debtor
You have an option of seeking advice from your financial adviser on whether to involve your lawyer or deal with them via other media.
When your debts are not from the same source
Individuals, companies, and organizations have different ways of dealing with debtors hence the need for IVA to curb the constant follow-ups from creditors.
When the money owed is extremely huge
Debts beyond this are difficult to handle, and so you must be armed to the teeth with numerous ways of bringing them under control.
When three or less different debts are in your name
Once you discover this, you have to swing to action by looking for the significant ways and means of dealing with the debts.The moment you take full control and charge of your finances and take up full responsibilities over your debts then you are on your way to the much-coveted land flowing
with milk and honey in the financial arena.
These and much more can be used to iron out any financial mess that you find yourself in. The best way to avoid all these is by keeping track of expenditures and avoid spending money unnecessarily. In the case of any bank statements that are unknown to you, consult your most trusted financial adviser and follow their instructions and advice to the letter.…