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Image Source When you first begin a business, there is an inevitable stage where you invest some of your personal money into the enterprise. If you are opening up a large-scale business, you will usually be using some of your personal money as seed capital. You take a share of the ownership in exchange for control on the board of directors, for example. However, the line is usually clear between your personal financial stake and what the business owns and owes. It keeps things nice and simple. For those running a lifestyle business, the...

Photo Credit Financial independence is something that so many people strive for all their lives. However, sometimes it can feel like you are running on a treadmill, working hard but never getting to where you want to go. Ultimately, it is never something you are going to achieve overnight, but instead you need to put in a great deal of hard work and effort over a sustained period of time. It all depends how much you really want to achieve this goal and the sacrifices you are willing to make in order to get there. Rather than just using...

Image Source Insurance companies can help cover those unexpected emergency life costs. However, more often than not, the insurance companies get the better end of the deal by asking more money from us than they ever end up paying out. Fortunately, it is possible to play the insurance providers at their own game. Here are few ways that you can stop being ripped off by insurance companies and start taking back control. Make use of multi-policy discounts Some insurance providers will provide multiple policies for a discounted price. For...

In his book Habits of Highly Effective People, Stephen Covey argues that it is our personal habits that make us or break us. The book created quite a stir because it suggested that at the bottom of everything we are as people – and everything we achieve in the world – our daily habits, not our intelligence, is what makes us successful. The question, therefore, is what are the habits of people who are rich and how can we emulate them? It turns out that the most important thing is doing the right thing consistently. Good habits...

With growing awareness about the benefits of a health insurance policy, the Indian insurance market has consistently grown. With expansion, the market now caters to many senior citizens who are looking for the right plan for their age and health. Young individuals are also looking for convenient options for a medical insurance policy for their parents. Factors to consider before purchasing a senior citizen health insurance plan Sum Insured: With increasing age, the cost of treatment increases due to chances of contracting age-related...

Being a parent is a huge drain on the finances. It is something all couples know and prepare for before they have a child and they both know quite well that as soon as you have have a baby the monetary outgoings go through the roof. It is a sacrifice most are willing to make because the joy received is huge. You’ll make countless memories and raise a family, so of course it is worth it tenfold. Some experts have predicted each child costs over a hundred thousand by the time they have reached adulthood, and even then they can continue...

A mobile phone is meant to make your life easier, and more convenient, but did you know it can also save you money if you use it in the right way? That’s right, there are a number of ways that your smartphone can not only make it simple to connect with family, friends, and work-related contacts, but it can also help to cut back on your expenses. Let’s take a closer look. For the Frequent Traveller If you are a frequent traveller to international destinations then you are well aware of how expensive those quick phone calls home can...

As an earning adult, you should think about the future and secure yourself financially for emergencies. Any income that is not spent is saved or invested, but it is up to you to decide on what and how much. The trick is to find the balance between saving and investing. The Indian government encourages money investments by giving tax benefits. So, you can find many options of tax saving investments waiting for you when you start earning. The Difference Between Accumulating and Investing Most of the Indians primarily save their income,...

All business owners should try their best to provide accurate accounting information to the IRS. If they fail to do that, they run the risk of undergoing an investigation. When that happens, people often have to spend a lot of time and money putting things right. Also, the tax man is almost guaranteed to say you owe them more than you paid. In the worst of circumstances, you could face criminal charges. That is especially the case if you’re a sole trader rather than benefiting from the protections of a limited company. As there seems...

It should be easy to save money during the winter months. As the mercury plummets and the snow accumulates, we naturally stay indoors. By staying inside to Netflix and chill, we avoid the financial temptations of patio drinks, window shopping, and weekend trips to neighboring cities. Contrary to popular belief, our hibernating ways don’t always help us. The frosty season ends up being an expensive time of year for many Americans. The cost of heating our homes, fixing our furnaces, and installing winter tires to our cars can add up,...