Online Finance Software to Manage Your Finance

Maintaining your personal finance is not a piece of cake. It usually takes a lot of time to find out all your incomes and expenses. You will definitely take a lot of time to gather your bank statements and other details like credit card statements, mortgage details etc. So, the old method of making your own budget using a pencil and paper is actually very difficult and next to impossible in today’s fast moving world.

What should you do then? But there is a way out. The modern method of financial planning utilizes the online tools to make a budget for you. There are a number of tools that are available both online and offline. You can easily choose from any one of the many finance tools that area variable today.

The perfect tool that suites you needs have to be chosen by you should be depending on your needs. All that you have do when you use a person finance tool is to provide the tool with all the required financial details like your bank account statements, credit card statements, bank loan details and other similar information. The advanced tools these days help you manage your personal finance very easily. There are many tools that even provide advanced facilities like tax calculation and net worth statements.

You can now easily use a finance tool to manage your personal finance budget. Compared to the pen and pencil method that was used earlier, the personal finance software helps you manage your finance tool effectively. So start using your finance software to manage your tool.

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An Online Finance Degree Can Open Doors To A New Career

Earning an online finance degree from an online university, college or business school can open up many opportunities to work in the field of finance. There are the typical levels or degree programs available in finance as in many online college degrees. Associates degree is the basic degree level all the way to an MBA (Masters of Business Administration) or Doctorate. The online finance degree offers additional benefits to students and college faculty in regards to flexibility of scheduling and course instruction.

An Associate’s Degree is the basic level of achievement in almost any degree program online and will typically take about 2 years to complete. The Associate’s degree might be satisfactory for entry level employment at credit unions and banks, or possible smaller accounting firms.

A Bachelor’s Degree is the next level and is usually referred to as a “four year degree” as it should take approximately 4 years to complete. The Bachelor’s Degree is much more widely accepted when seeking employment in the field of finance and the opportunities for employment are much broader with a Bachelors Degree. Banking, large accounting firms, investment firms and financial planning companies might typically be looking to hire graduates of a four year Bachelor’s Degree program. A finance degree can also prepare a student for further degree programs such as an online marketing degree or any number of other online college degrees.

The Master’s Degree is where the best job offers reside and an MBA is the ultimate Master’s degree when it comes to an online finance degree. A Master’s Degree holder is eligible for just about any job in the finance field right out of college. Businesses look at graduates holding Master’s Degrees or MBA’s as having the right education and training to step right into an upper-level job.

Some of the different specialties within finance are:

Credit Analyst
Investment Banker
Financial Planner
Financial Advisor
Finance Officer
Loan officer
Many of these career choices are obviously in the banking and investment sector but many large corporations and companies require a finance officer or an upper level manager with a finance background to help maintain the assets of the company.

An Online Finance Degree also offers the flexibility of online college degree programs in that students are often able to continue their current employment while attending college. This flexibility is what makes online degree programs so attractive to potential students who are already employed in their chosen field or who have other family and work obligations.

Earning an Online Finance Degree is definitely a big step forward if you are working in the finance field or want to begin a career in the field of finance. Getting your finance degree online will allow you some flexibility to work at your own pace in order to achieve the level of education and career advancement you desire.

What if you just can’t seem to get ahead in life?

I know how hard it can be when your stuck between a rock and a hard place. You want to go back to school so you can get a better job, a better life. But how do go to school when you have a job that you need to pay the bills? There is a way!

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November Is Financial Literacy Month

Most of us only think of literacy in relation to reading. This month is meant to bring awareness to the term Financial Literacy and what it means to everyone. It doesn’t mean understanding how to look at your bank statement, but rather looking at your entire financial plan and understanding how it fits your stage of life.

For example, when was the last time you reviewed your life insurance policies? Or perhaps you or your partner don’t have an active policy. Or do you know if you have one?

Life Insurance is not the one trick pony of the past, there are now many choices in how you structure it. From Term Life which allows you to choose the coverage period, to Whole Life which provides a lifetime of protection to Critical Illness. Unfortunately, our health is sometimes seriously affected and Critical Illness provides coverage to protect our families from the financial burden of our illness.

If you are at a point where you don’t want to think about end of life, think about beginnings. It’s time to start your own chapter in the form of home ownership. You’ve done your research, found your new haven and negotiated your mortgage. Before you sign the papers, understand how to protect your investment.

Should you decide to add children to your equation, you hope they will move onto postsecondary education. Planning early can provide the financial education they need before they incur the debt which could come with it.

Each stage of life brings an opportunity to review your current financial standing and adjust for the future. It can be hard to know all your options and sometimes even harder to see the forest for the trees when reviewing your own assets. If you’d like some help, we’re here.

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Control Your Finances The Easy Way

Too much month at the end of the money? Many people are faced with the problem of running out of money before their next payday. This is usually because they don’t take the time to organize their incomings and outgoings and end up wondering what happened to their money. There are solutions to help you control your finances which have helped me over the years and now I want to share them with you so you can learn to control your finances the easy way.

MAKE A LIST OF YOUR MONTHLY BILLS

Monthly bills consist of things such as rent, electric, water, council tax and gas. These are bills that are usually the same amount every month. Make a list of all the bills you pay every month along with how much you are paying for each one. Now add up the figures so you know how much you are paying each month in total. If a bill ranges between two amounts then write down the higher amount. For example if you pay between £50 and £70 for electricity then write down £70. You can find the amounts by reading through your bills or bank statements.

Some Electric and Gas companies give you the option of paying a single monthly payment. This way they can monitor how much gas or electricity you are using and adjust your monthly payment accordingly. It is good if you take this option so you only need to add the extra money when they increase or decrease the direct debit. The companies don’t mind you going into debt with your gas in the winter as your payments will reduce the debt in the summer months if you don’t use your heating.

SET UP DIRECT DEBITS

Direct debits allow companies to take the money direct from your account when the bill is due. Once you know how much you need to pay on bills each month you can leave that amount in your account or transfer the full amount to another account if you want to use a separate one for bills. Companies will inform you of any increases so you can adjust the amount you pay. If possible choose the same day for the payment to come out if you are paid monthly, or the nearest day, which is useful if you have all your outgoings coming out of the same account.

Note: these companies can only take out what has been authorised so you don’t have to worry about extra money being paid out. There are also times when they may take the payments 2-3 days earlier because of the direct debit date falling on a weekend or a bank holiday so make sure your money is in your account in advance. Call the companies you pay to set up direct debits. You can actually save money with the direct debit method as you get offered discounts.

MULTIPLE BANK ACCOUNTS

Your bank allows you to open multiple current or checking accounts which you can use for various purposes such as spending and bills. Use one of your accounts for your monthly bills and set up your direct debits to come out of this account. Transfer the total amount of money you need to pay bills into this account once a month and you’ll know that the bills are sorted for the month. I would recommend that you add extra money onto the total so you don’t have to worry about going overdrawn. It may also be a good idea to have a small overdraft on the account in case you need it.

You can also use an account for your general spending needs such as groceries and fuel. I recommend you have your salary transferred into this account – so after transferring the bill money everything left is yours to spend. You can also use this account as a savings account by letting your money stay in there and spending only what you need. Anything left over by Payday can be classed as savings.

If you prefer you can have a separate savings account where you can transfer a set monthly amount or have it done automatically via a standing order. Or you can manually transfer anything left over from last month. It is always recommend having some money saved in case you need it. You never know when there is going to be an emergency or a situation where you need extra money. You could choose an amount you can comfortably save and consider it a monthly bill.

SET SPENDING BUDGETS

Sometimes we can be too reckless with money. Imagine walking into the store with the children in tow and they start adding things to the basket. Imagine seeing something on offer and grabbing as many as you can or picking up something you didn’t really need but it was a bargain. After putting money aside for the bills it is recommend you set yourself a spending budget. For example you may only have £400 left for the month so you could limit yourself to £100 spending per week. Make sure you have the things you really need before you start spending and use the leftover for treats.

You can save money by focusing on the most important purchases for the week and buying certain things in bulk. Buying a six pack of baked beans might be cheaper than buying six separate cans. If you like to drink buy a few cans to drink at home and cut down your time in pubs and bars. If you use public transport try buying a travel pass to save money on paying fares separately. Try taking a packed lunch to work. Basically, if you don’t really need it then don’t buy it.

PAYING DEBTS

The longer you have a credit card or loan debt the more interest you pay. If you have debts then there are ways to keep them under control and save money.

If you have more than one credit card then consider a balance transfer. By transferring all your credit card balances onto one credit card you can get a lower interest rate and a lower monthly payment which will make it easier and faster to pay off.
Use any savings to pay towards the debt. This will save you money on interest payments and reduce the debt faster. If you have extra money then try and clear the smaller debts off first to get rid of them so you have extra money for the bigger debts.
Consider a consolidation loan from the bank. You can borrow enough to pay off all your other debts and just pay one set monthly payment by direct debit. By reducing the number of debt payments to one loan payment you can end up with extra money each month.
If you can’t get a loan then consider an Individual Voluntary Arrangement (IVA). This allows the interest to be frozen on all your unsecured debts and you pay a set monthly amount as much as you can afford for five years. This doesn’t apply to secured loans such as car finance.

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Benefits of Credit Card Machines for Business

Other than credit card machines, technology has produced many notable effects, including the credit card machine. In the 21st century, people open themselves up to technology from the very center of their being. It has the added benefit of leading to an increase in the use of credit and debit cards. Additionally, the coronavirus’ arrival has also contributed to the increased use of contactless transactions. EMV cards are replacing magistrate premium cards. EMV chip cards give you the ability to make contactless payments. The merchants must have advanced payment terminals to accept such payments.

Credit and debit cards are used almost exclusively in today’s business world. To take your business to the next level, you must associate it with a credit card machine. The processing and payment services you need for online sales include a merchant processor that provides you with an online payment gateway. There will always be online modes that people will prefer to use, regardless of the volume of transactions. As a result, you have to use an advanced piece of equipment, such as a credit card machine, in tandem with your business.

Advantages:

Just because we’re living in the 21st century, it’s impossible to conceive of life without modern technology. A large number of businessmen prefer to stick to established business models. However, sometimes you have to alter your plans according to the current situation. This means that you need to be one step ahead of everyone else in the business. You will lose customers otherwise. An establishment that gets access to a credit card machine will enjoy countless benefits. Listed the benefits; so, don’t miss the following:

Obtain Legal Recognition for Your Company:

Accepting card payments using digital payment terminals is a legitimate business practice, so it should help your company a lot. The card brand name will be printed on the POS, and thus the customers will have no problem noticing it. This logo will be featured on the same online marketplace as well. The greater the number of customers from outside the country, the more money you’ll make.

Increase Your Profitability:

To accept various forms of payment, like credit cards, Google Pay, Apple Pay, and more, use a credit card machine at your business. Creating a positive impression on your customers is quite simple, but it also keeps your customers loyal. A credit card machine, thus granting flexibility in the ecosystem of online payment, provides customers with many payment options, thus allowing them to pay bills in various ways.

How to stay ahead of the competition:

Many businessmen have not yet fully embraced digital equipment, making small-business models in the early stages of transition. To accept online payments, your business equipment must be upgraded. If customers are no longer carrying cash, you can outpace your competitors. Research has shown that when customers use their cards to make a purchase, they spend more. Additionally, because you will make a substantial profit from accepting card payments, it’s highly recommended that you do so.

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Super Visa Insurance Monthly Pay North York

Note: SV is Super Visa

What is a Canadian Super Visa?

It is a Visa for parents or grandparents. It is a temporary resident permit that allows parents and grandparents to stay for up to 2 years in Canada per visit. Issued for parents and grandparents of citizens or permanent residents in Canada. It has validity for up to 10 years. A regular multiple-entry visa is also valid for up to 10 years, but only allows stays of up to 6 months per visit.

What is the processing time of a Super Visa?

The approximate processing time of a SV is short and takes almost 8 weeks. There are also specific requirements that one must meet before applying for a SV.

What Are The Mandatory Requirements To Apply for This Visa?

The govt of Canada has laid down some mandatory rules for parents and grandparents to apply for a SV. Those rules are,
1) Proof of their relationship with the child or grandchild who must be a Canadian citizen or a permanent resident.
2) A copy of the child’s or grandchild’s birth certificate.
3) A proof of medical examination document.
4) An official document naming the applicant as the parent.
5) A satisfactory evidence of a private medical insurance from a Canadian insurance company valid for one year from the date of entry.

Can The Parents Or Grandparents Work With A Super Visa?

No, the parents or grandparents are not permitted to work as their visa has the same restrictions as a visit visa holder.

What is a SV Insurance?

With the above information provided, now we know to whom a SV is issued and who apply for a SV. Not only the parents and grandparents require a SV, but also a medical insurance before entering Canada. The medical insurance should be no less than CAD $100,000 in coverage for health care, hospitalization and repatriation. This step is mandatory for the SV applicants.

SV applicants have to submit a proof of purchasing a medical insurance from a private insurance company.

There are a lot of medical insurance companies in Canada and North York has also got the best ones. People can go for SV insurance monthly pay North York. This facility of monthly pay gives a convenience of paying insurance charges monthly. This facility of monthly pay gives a convenience of paying insurance charges monthly.

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Setrega – A Global Analytical Regulatory Platform

Setrega is the Global Regulatory Analytical Platform which provides a comprehensive solution to the financial institutions for complying with one or more Regulatory Authorities. Through highly customizable and end-to-end automation, Setrega helps clients to configure Reporting Data, Reporting API, Connecting/Integrating Settings, Report Generation Requirements, Report Validation Requirements, Report Submission Mode and Feedback Management. As a Global Regulatory Analytical Platform, Setrega is designed to integrate with any financial services firms to receive regulatory data and process them to regulatory reports in specific formats with minimum customization effort.

Currently, all financial institutions are facing problems with dynamic changes in regulatory requirements, implementation risks associated with regulatory reporting and managing regulatory report error handling. All financial institutions are forced to adapt to these challenges and continuously seek for solutions which are cost-effective and accurate, with real-time feedback management. Sensiple’s Setrega fits into this emerging environment by supporting multiple Regulatory Authorities with an end-to-end automated solution.

Regulation Complied Preconfigured – ESMA – MIFIR/MiFID II, Monetary Authority of Singapore (MAS), Superintendencia Financiera de Colombia (SFC) etc.,
Significant benefits of the Global Regulatory Analytical Platform are,

Automation Capability

Financial Institutions gets the advantage of preparing and submitting regulatory reports without manual effort.

Comply with new Regulations without risk

Setrega provides flexible data source configuration, API mapping and reporting format changes with minimum customization in product level which ensures relief from regulatory and compliance risks for the financial institutions working in various regions.

Scalability

Depending on the Institutions type like Buy Side/ Sell Side/venues, Setrega is scalable in terms of increasing number of connections, the humongous volume of data, more number of reports and formats, increased number of submission modes and regulatory authorities.

Transparency

Handling a large volume of data gives challenges in managing data to auditing; Setrega makes it more accessible by allowing the clients to have full control over data by powerful data transparency method.

Dashboard

Setrega act as a one-stop shop for all regulatory reporting for financial institutions. A vastly informative dashboard in Setrega provides all historical, current and scheduled regulatory reports and its internal & external statuses in graphical and tabular representations.

Regional Coverage

Financial firms who run their business across the globe get benefited from Setrega as one solution solves all the regulatory and compliance needs. It is successfully verified with major regulatory frameworks like MiFID II and NFA (National Futures Association) and regulatory authorities like SEC and SFC.

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Handle Your Finances With Care

It takes years to gather a handsome amount of money, and if it is not handled properly, your most prized possession would soon escape from your hands like sand. This is the reason why people go for financial planning. It gives you a great sense of satisfaction when you know that your money is in safe hands and is being handled with utmost care.

However, not many people are aware of the process involved in financial planning. Based on your financial position, it is very important to go ahead with personal planning because if you don’t start planning well in advance, then you might face several challenges in the future.

Financial advisors suggest all individuals follow these six basic key principles for financial planning.

• Analyse your current financial status: To be able to plan for future you should first be very confident about your current financial position. Make a checklist of all the assets and liabilities and your income and expenditure. Having this information at hand, you would be in a clear position to understand how you can achieve your financial goals. Your total financial worth would help you to determine the ways to accomplish your set goals, which include paying for your children’s education, buying a new property or being ready for any financial emergency like the loss of a job.

• Chalk out your financial goals: In order to accumulate wealth, a lot of planning has to be done in order to achieve the desired goals. Setting goals would give you an urge to go ahead to achieve it. Your list of financial goals should be very specific, which would show that they are crystal clear in your mind.

• Plan for alternatives: You cannot expect your planning to go as per your wish, so you should always have a plan B at hand. After listing down your goals you plan for alternatives as well.

• Analyse the alternative options: You should ponder upon the feasibility of the alternative ways taking into account your social, personal and economic condition at present. The liquidity of your assets also matters in this regard.

• Creation and execution of your financial plan of action: Once you have planned about your alternative options and have analysed its feasibility, it is time for you to put these plans into action.

• Review your plan: Since financial planning is very dynamic process it is subject to change at any moment. So, it is always advisable to keep reviewing your plans every now and then.

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The Security Intelligence in The Financial Services

Security intelligence is the data related to safeguarding an organization from any outside and inside threats along with the processes, and policies developed to accumulate and evaluate the information.

It can also be referred to as the actual collection, standardization, and analysis of the data created by users, applications, and structures that influence the IT security and risk position of a business.

On a daily basis, information flows in organizations for the senior management to make smart decisions. The various stakeholders (employees, customers, contractors) are interfaced through various technologies.

However, the technological infrastructure can also result in serious security issues. The probable areas of intrusion are unlimited. Security experts and business leaders are trying to find an answer to the question – Is it feasible to have a robust security in an increasingly interfaced environment?

Though the answer is yes, it needs a radical transformation in processes and practices encompassing the financial services sector. The focus is not only on IT. Robust security facilitates a positive customer experience.

Cybercrime and Profitability

Financial institutions are at great risk since they are perceived to be an easy target for cybercriminals. According to a survey by IBM, “Financial markets, insurance, computer and professional services together account for over 40% of all security incidents worldwide.”

The losses, pertaining to cybercrime in other sectors could be due to industrial intelligence and fraud related to intellectual property, but in banking, online fraud is a possibility.

Any fraud related to the intellectual property and industrial intelligence could lead to reduced shareholder value, shut down of the business and net financial losses. These are the issues impacting the global financial sector, not only because the main reasons are not identified or the disruption to the customer is immediate, but also because they can result in a significant loss of money.

As per Andrew Haldane, Financial Stability Director at the Bank of England, “Cyber-risk has become a more pressing concern than economic depression and the Eurozone crisis, as it is a rapidly rising area of risk with potentially systemic implications”.

Comprehending the seriousness of the security risk is only a beginning. Financial institutions must establish an in-depth security intelligence strategy that would enable the financial institutions to have an insight into the perceived threats.

Financial institutions leverage top-notch analytics to get an understanding of:

The types of attacks that are occurring.
The probable source of the attacks.
The technology used by the cyber criminals.
Weak spots that could be exploited in the future.

Michael Davison, Banking and Financial Markets, IBM, stated,” There’s not another single issue that unites the interests of so many people at senior levels of banks. It unites technology, the CFO, security and compliance functions. But cybersecurity is also mission critical for people running lines of business and who are running P&Ls. So quite rightly it sits on the Board agenda. But there’s still work to do to educate Boards about the urgency of an effective response to the rapidly changing environment.”

Financial institutions must implement the following practices to get the balance between the required innovation and the related risk:

Establish a risk-conscious culture

An organizational transformation with an emphasis on zero tolerance towards a security failure must be established.
An initiative encompassing the organizational hierarchy to execute smart analytics and automated response competencies is needed to identify and resolve issues.

Safeguard the Working Environment

The functions in distinct devices must be examined by a centralized authority and the wide array of information in an institution must be categorized, tagged with its risk profile and circulated to the concerned personnel.

Security Design

The greatest problem with the IT systems and the unnecessary costs is from executing services initially and looking at security afterwards. Security has to be a part of the application from the first phase of design.

Ensure A Safe Environment

If the system is secure, security personnel can monitor every program that’s functioning; ensure it is ongoing and operating at optimal level.

Manage the Network

Organizations that route approved data through controlled entry points will be in a better position to identify and separate the malware.

Cloud Based Security

To prosper in a cloud scenario, organizations should possess the technology to operate in a secluded environment and track probable issues.

Involve Vendors

An organization’s security strategy must also involve its vendors and efforts must be made to establish the best practices among the vendors.

Financial firms have been a major target for malware attacks. Several aspects are impacting the financial sector. The direct connection between the breach of several personally identifiable information (PII) to the profitability has not been lost on the global financial stakeholders. This has led to the implementation of several global security projects.

A hazardous type of malware for online financial transactions is “Man-in-the-Browser” intrusions. It happens when a malicious program affects an internet browser. The program adjusts activities conducted by the user and in some instances, can initiate actions independently. It could lead to online stealing.

Financial institutions that can transform radically at a fundamental level, the way they function would be safeguarded.

The aim of enterprise security could initially emphasis on IT structures, it must be extended from the technology personnel & their systems to each individual within the organization, and all the stakeholders conducting business with it.

Financial firms must comprehend the data that they have, which must be made available to the system, where they can compare and develop a real understanding of the actual threats and contingencies that may compromise the business.

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Tips On How To Spend Your Windfall Income

As individuals, especially workers we sometimes get windfall incomes in forms of bonuses, profit shares, etc. However, a lot of the time the temptation is to spend the money on acquiring a new car, new clothes, shoes, new phones, among other things. While acquiring these things in themselves is not a bad idea, it is wiser to use windfall incomes for things that will have long term positive impart on our lives especially because we do not have a full grabs of what tomorrow will bring.

For workers just starting off or in mid level careers, it is really important not to squander windfall incomes on non-essentials.

Many years ago during the mid 2000s, when the banking and telecommunication really became big industries, many banks and telecommunication companies paid bonuses and profit shares to their staff on a yearly basis. Most new staff and mid level staff squandered their money on buying cars, renting new apartments in high brow areas and changing their wardrobes almost every 3 months. Nite clubs were packed every Friday night with each person almost trying to out do the other in terms money spent.

Today, the story is different. The global economy is almost comatose. Banks are no longer giving huge bonuses, neither are telecommunication companies doing any better. The oil industry is in shambles. Every industry is operating lean.

Windfall incomes will not come all the time as the economic realities have now shown us. So if you are fortunate to get a bonus or profit share that amounts to something reasonable, here are a few tips on how to spend wisely:

1) Invest in real estate: As much as this sounds like really over flogged, it is a wise counsel. A businessman once said, “the only Estate that is Real is Real Estate”. Real estate is big business. There is a huge demand for rental apartments especially mini flats and 2 bedroom flats. There are several real estate companies offering instalments payment options for those interested in buying land. You can invest your windfall income in buying a half plot or full plot of land. I will advice you buy from a real estate company rather than directly from the community especially if you do not have funds for immediate development.

The simple reason is that the real estate company usually would have sorted out community settlement issues with the land owners and so you can be rest assured that you land is at least secure from land grabbers. Also, by buying from a real estate company, you will benefit from quick capital appreciation of your investment and rapid development of the locations since there will be several people also buying and developing their property in that location. Another advantage of investing in real estate is that after developing the property, you can put it up for rent if you do not wish to reside in that location and use the rental income to pay for your rent in your desired location.

2) Invest in a part-time business: If you already have a business that you can run part- time alongside your full-time job, you should invest your windfall income in that business. You can buy the needed equipments or register for a training programme that will increase your expertise in that business area. If you do not already have business idea, you may want to consider doing some research to see what part-time business to invest in.

3) Invest in education: You can invest your windfall income in further education that will boost your profile and give you a better chance at a higher paying role in your industry or another industry entirely. You an also invest in the education of your loved ones like your spouse, children or siblings (if you have this responsibility thrust on you)

4) Invest in Marriage: Yes! you read me right.

This is for those who believe in marriage. If you have a partner and your really desire to spend the rest of your life with the person, then invest your windfall income towards settling down. You can start making down payments for some critical items on your list. Marriage is an investment in your lifetime happiness.

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