Borrowing from Family and Friends

Many people go through unstable periods when they’re setting up a new business or are facing steep completion from rivals. A burst of cash that’s well spent can help stabilize your company if the money is invested into the right areas, and many businesses owners choose to borrow money from family and friends rather that loan companies. There are some problems you can face should you choose to borrow money this way. Fallouts If you don’t spend the money you’ve borrowed in the right way, you may have friends of family members asking for a date when they’ll be paid back. If you’re unable to give them the money back your relationship may never be the same. Interference Having a friend or family member lend you money can mean they...

When to consider a Payday Loan?

It’s true that payday loans can get you out of a sticky situation fast. That said, they can also get you into an even stickier situation, so when is it okay to consider getting a payday loan? Well, let’s first understand what a payday loan actually is. It’s a short term loan agreement. So to clarify that’s short-term not long term! This means that paying it back as soon as possible is going to make it a reasonable option for somebody with a short term need for funds. If you need a long-term loan you must avoid this at all costs. Otherwise interest rates will build up quickly, so too will the deadlines for repayment. Only commit to a payday loan if you need to borrow money for several days...

Invoicing – Why you need to act fast

When you’re providing services like photography, copywriting, design, consulting, programming or marketing, it’s important to get your invoice over to the customer fast. We’re not saying you have to invoice them before the work has started or when the work is ongoing, but you’ll be surprised to know that many freelancers leave it quite late, causing problems in the long run. Most businesses will have their own way of approving invoices and one process may involve several people before it’s approved and finally paid, especially if there is a finance department. This is why you should always send an invoice when the work is complete and approved, so waste no time in getting it over. The sooner they have it, the sooner the money will be in your bank account....

Waiting for your business to really kick off

When you have a start up businesses, you have to be patient to wait for the money and regular clientele to come in. This period can make or break a company before it even gets started, and if you don’t have enough savings to put into marketing your business, you could find yourself having to go back to fulltime work, leaving your dreams to fade and die. That doesn’t have to happen if you’re careful though, and it’s important to make sure you invest small amounts to start with. Do the marketing on the cheap,  use your own time to reach out to prospetive customers, rather than paying for expensive advertisers and web marketers. If you start off slowly you’ll stand a better chance of surviving and being a success...

How safe is Apple Pay?

Apple pay seems dodgy doesn’t it? You simply touch your mobile phone to a card machine and boom, your payment is successful. It’s changed the game, and it’s probably going to be the future. That said, as it’s only very recently been rolled out, people are doubting how safe it really is. With the amount of geeky techno hackers around, would it be very easy for someone to spend your money if they found your phone? Well, in short the answer is yes. If you don’t have a secure phone pin, they may be able to get in and use your phone to buy a product or service. That said, they can do that with your bank card, so it’s just a case of cancelling your accounts should you lose...