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August 21, 2017

Money Making Tips for Stay-at-Home Moms

home mom moneyWhen you’re a parent, expensive situations can come out of nowhere! Whether it’s an unexpected medical bill, an important field trip, school supplies, or a seemingly endless supply of diapers, sometimes there’s simply not enough money to cover everything. As a stay-at-home mom, the pressure of financial strain might make you feel as if you have to go straight back into full-time employment, but that’s not always the case. In this article, we’ll discuss some of the ways you can add to the household coffers.

Online surveys

One of the most straightforward ways of making a little extra additional cash is to complete online surveys. Although payouts per survey aren’t huge, over time, consistent survey completion can yield a tidy sum.

Get paid when you shop online

Believe it or not, there are companies that pay you to shop online! Using affiliate links to your favorite stores, you can earn money every time you make a transaction. A percentage of your purchase will be paid back to you; usually you will need to hit a milestone (generally in $5 or $10 increments), and payouts are given as store vouchers or PayPal credits. A convenient way to earn whilst enjoying a little retail therapy!

Transcription

If you have a decent typing speed, reliable internet access, and a good pair of headphones, you could make money from transcription! Online platforms connect freelance transcriptionists with companies looking to have usually short excerpts transcribed. It’s important to note that payments are usually made per hour of audio transcribed, rather the time it takes you to complete the task, so only go into transcription if you can type fast enough to make the task worthwhile. However, if you have the skills, it’s a great way to bring home some extra cash!

Sell old stuff online

Do you have old clothes, shoes, accessories, toys, or gym equipment lying around the house, never used? It’s time to let them go, and earn some money while you’re at it! Selling platforms such as eBay make it straightforward to unburden yourself from the things that are taking up precious room. Simply snap some photos, add a dazzling description, then wait for the bidders to snap up your items.

Start an Etsy store

If you have a creative flair and wish to sell your own products, it’s easy to set up a store on Etsy. Advertise your store across your existing social media, involve friends and family, and create a buzz around your designs. With good word-of-mouth and online reviews, you’ll be making money in no time!

Childminding

If you enjoy looking after children, consider setting up your own childminding business. This may involve gaining some additional qualifications, but your investment can return a significant income once you get going. It will also allow you to keep spending time with your own children while you work.

Cash loans

We all experience times when money is tight; sometimes the best way to go about resolving a temporary cash flow problem is to take out a cash loan. It’s now more straightforward than ever to take out online loans, so do not be afraid to consider it as a solution to your money worries.

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August 20, 2017

5 Advantages of Choosing Term Insurance Online

life needs insuranceThe Internet has revolutionized modern lifestyles. You may use various online facilities like booking cabs, flights, movie tickets, and grocery shopping. Several individuals also find their life partners online.

The primary reason for the increasing popularity of the Internet is its convenience. This same convenience is also available if you choose to avail of an insurance policy online. Here are five advantages of opting for insurance policies online.

1. Lower costs

When you avail of a term insurance plan online, you eliminate the need for agents and brokers. This reduces the expense for the insurance company. In addition, the entire online procedure is paperless, which further reduces the cost for the insurer. These costs savings are beneficial in reducing the premium you pay for purchasing the insurance plan.

2. Informed decisions

Online platforms allow you to compare different types of life insurance policies offered by various insurers. You may compare the terms and conditions, premium amount, and other features of the policies. Furthermore, you may refer to the reviews and comments given by past users. This allows you to make an informed decision while acquiring insurance coverage.

3. Automated services

An online platform not only expedites the process but also enables efficient and quick servicing. You may easily download product brochures, procure estimates from various insurance companies, pay the renewal premiums, and track your payments online. This ensures you do not have to depend on anybody and the entire procedure is quick and hassle-free.

4. Efficient online assistance

Most insurance companies offer live chat assistance to help you understand more about the different policies. You may also call their helpline numbers to resolve your queries and clarify all your doubts. Once you have made your decision, you may either choose to complete the procedure online or request a meeting. The insurance company will send a representative to help you complete the procedure.

5. Customization

These days, several insurance companies offer customized products to suit the distinct requirements of individual buyers. When you opt to apply for a term plan online, you may compare different offerings and choose the plan that suits your preferences. You may also pay the premium online on a monthly, quarterly, bi-annually, or an annual basis as per your financial situation.

Availing of an insurance policy online is a cost-efficient and quick option. Insurance companies understand the benefits of this distribution channel and offer special products covering different types of insurance policies. By opting for the online platform, you may avail of the best term insurance plan in India from the comfort of your home or office.

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August 8, 2017

Things to Consider Before Buying a Life Insurance

comprehensive life policiesLife is unpredictable!

Although we are all aware of this, very few people actually think about the uncertainty of life and take practical measures to protect their loved ones, in case their life unexpectedly comes to an end.

Such wise people usually buy a comprehensive insurance policy to secure their family’s financial future.

Have you decided to be among those who are always prepared for the uncertain future?

Buy a life insurance!

What to Consider Before Buying a Life Insurance?

Searching and buying the right insurance policy can become a daunting task. But, not when you know what things to consider while weighing different insurance policies at hand. To help you do that, here we are highlighting some of the key factors that need to be considered when it comes to buying a life insurance:

• Make Sure That the Company Is Reliable

The foremost thing to consider before you decide to buy insurance is the reliability of the company you are buying from. Ask around for references and always go for the company that enjoys a good reputation. You can also check the company’s social media page to read reviews. This is important because frauds by insurance companies are highly common. Often, buyers find out about the hidden terms and conditions with regard to charges and coverage after buying the insurance.

Therefore, to prevent yourself from becoming a victim of an insurance scam, make sure you do a detailed research and seek references and reviews before choosing an insurance company. The task is quite tedious, but it is worth making the effort.

• Assess Your Needs

One of the many benefits of finding a reliable company is that the insurance agent can really help you in evaluating and assessing your needs and then choosing an insurance policy accordingly, to cover all your specific needs. The process entails evaluating factors such as the number of dependants, family wealth and assets, and whether the family will be able to pay off any remaining debts and bear the cost of funeral services or not?

Your answers to all these questions will help decide what things are more important for you and how much coverage you really need. For example, for some people the most important thing is to make sure their children’s education does not get negatively affected in any scenario and they want it to be covered by the insurance policy. On the other hand, there are people who do not want their family to pay for their burial services.

• Compare Different Policies

Decide your needs based on what things are important for you. For example, if you only want to make sure that your family receives money to pay for your funeral, ask different companies for quotes for funeral insurance. But, if you want multiple factors to be covered, look for a comprehensive life insurance policy.

Also, never settle for the first company you come across. Always compare different aspects of various insurance policies to make sure you find the best or you will end up regretting it later. In addition to your needs, your financial status also plays an important role in choosing a life insurance policy.

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July 26, 2017

Save Tax with Mutual Funds: 5 ELSS TO Help You in Tax Saving

save your taxEquity-linked saving schemes, or ELSS, are essentially close ended mutual fund schemes that offer tax benefits under the section 80C of the Income Tax Act, which means that you can reduce your tax liability. Such funds do not have any restriction on number of shares issued. They are diversified thereby allocating capital in a variety of assets in a way that reduces exposure to risk thereby mitigating loss schemes offered through mutual funds.

The unique feature of this scheme is that one can avail a maximum deduction of Rs. 1.5 lakh invested into these funds from his/her income during a financial year. This in turn, would help in saving tax of up to Rs. 46,350/- (if one falls in the highest income slab) during a financial year. ELSS also offers greater liquidity as the lock in period in these funds is only 3 years in comparison to PPF which has lock in period of 15 years. Further, by choosing for the ‘Dividend Payout’ option in the ELSS, investors can receive tax free dividends from their investment prior to the maturity of the scheme. Thus, these funds are efficient tax saving investments with the least lock in period and a superior performance track record.

This is a hugely underappreciated advantage of investing in an equity-linked saving schemes. Many prefer instruments such as Public Provident Fund, life insurance policies that are comparatively long term instruments where the primary goal of investing is either safeguarding your loved ones after you are no more or in the case of PPF whereby the idea to save for retirement.

While one can look at ELSS purely from a tax saving perspective of saving taxes, they can also serve as investments towards long term goals. The equity element in ELSS allows investors to systematically create wealth in the long run.

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July 17, 2017

8 Common Misconceptions About Setting Up a Merchant Account

merchant account set upWhen you run your own business, staying in touch with the times isn’t just a good idea. It’s a necessity if you’re serious about succeeding. This is especially the case when it comes to the payment options you offer your customers. Cash and checks are becoming less and less common by the day. In fact, many consumers don’t even carry them anymore. They simply assume they’ll be able to use their credit or debit card wherever their day happens to take them.
In other words, you need a merchant account if you want to stay relevant. If you’re not willing or able to offer your customers the convenience they’re looking for, you can bet your competitors will be. The good news is getting a merchant account isn’t nearly as complicated or difficult as you may think it is. Let’s go over a few of the most commonly held misconceptions about the process and address the truth behind each one.

1. Merchant accounts are too difficult for certain types of businesses to get.

Back in the early 2000’s, ecommerce was a relatively new concept. Not only were consumers not yet used to doing the bulk of their shopping online, but the entities in charge of granting merchant accounts weren’t sure what to make of it either. It didn’t exactly help that the only real way to set up a merchant account was to go through a traditional brick and mortar bank. There were certainly a lot of hoops to jump through if you were in ecommerce or ran any other business that could be considered high risk.

These days, that’s no longer the case. To begin with, there are lots of different merchant account providers to choose from when you’re ready to open yours. Many of these specialize in setting up accounts for small businesses or ecommerce companies.

Also, the requirements attached to the process are relatively easy to satisfy. For instance, registering your business as a sole proprietorship instead of incorporating is a great option for self-employed service providers. Modern business bank accounts can be obtained with little hassle and at a very low cost. Even registering a business name is pretty simple and inexpensive. You don’t need much else to qualify for a merchant account here in 2017!

2. You can’t get a merchant account if your business is a start-up.

Traditionally speaking, a bank sees a start-up business similarly to the way they’d see a person with no credit history. Although there’s no tangible reason to think that business isn’t a good risk, there’s no positive track record to definitively prove it is one either. In the past, this made getting a merchant account notoriously difficult if your business was still just getting started.

Today, people are more entrepreneurial than ever and many merchant account providers recognize this is a chance to connect with an emerging market. Some of those providers actually specialize in working with smaller, newer, or independent entities. They pride themselves on their ability to provide personalized service, strong client relationships, and unique solutions designed to help start-ups succeed.

3. The application process is always difficult and confusing.

In actuality, the application process could be difficult if the criteria attached to your unique business are very complicated. However, in most cases and for most businesses, the application process itself really isn’t that daunting or complicated. The key to success lies in making sure you select the right service provider.

A good merchant account provider that’s right for your business will pride itself on simplifying the application process for its would-be clients. Many allow you to begin the process online by entering basic information about your business via a web form. They then use what you’ve told them to prepare the correct documents for you. All you need to do is read them, sign them, and return them along with anything else you’re asked to send (i.e. a void check).

4. Merchant accounts are expensive, both to set up and to maintain.

Here we have another myth rooted in a distant past when ecommerce businesses still weren’t understood or accepted as a valid concepts. This meant they were almost always considered high risk ventures by default and high risk often also means high cost.

These days, all sorts of people are in business for themselves and the fees associated with having a merchant account often reflect that. Many account providers provide options that don’t call for set-up charges or continuing monthly fees. Instead, you pay a small fee each time you actually process an associated transaction – perfect for very small businesses or sole proprietors that only process credit card transactions occasionally.

In other words, there are options out there that were designed with your business and budget in mind. You no longer have to be a big corporation or a large company doing lots of volume when it comes to credit cards to benefit from having a merchant account.

5. It takes forever to receive funds attached to a credit card transaction.

Back in the day, it wasn’t uncommon for credit card processing agencies to deliver a merchant’s deposits once a week or even once every other week. The perceived risk attached to a given transaction was a lot higher then. Holding onto funds a little longer gave that processing company a bigger buffer against possibilities like chargebacks, fraud, or merchants that closed their accounts while still owing service fees.

The more common credit cards, debit cards, and the like become as payment options, the lower the perceived risk of such transactions. Here in a day and age that finds most consumers using credit or debit cards to complete their everyday transactions, processing companies are often on a daily (or near daily) deposit schedule. Depending on where you bank and who you work with as far as credit processing, you’ll probably see funds hit your account within 48-72 hours of the original transaction.

If you choose the right merchant account provider, you’ll have some choice as to when and how often you receive your deposits though. Most business owners do prefer to receive daily deposits, but if you actually prefer weekly deposits instead, that can be arranged.

6. Establishing PCI compliance is also difficult and expensive.

If you’re exploring the possibility of opening a merchant account, you may already be familiar with the concept of PCI (Payment Card Industry) compliance. The term refers to the standard every merchant needs to meet in regards to data security if they’re going to accept credit cards as payment options.

The cost and effort required to continuously meet that standard can be complicated or costly… for some businesses. For others, this is hardly the case. For instance, you’d expect a really big retail company like Macy’s or Wal-Mart to have more different tech requirements to meet than an independently owned dress boutique across town. You’d also be right to expect that. What is often super involved for a large business is usually pretty simple for a small one.
Again, your choice in merchant account providers can really help you here. Look for companies that go out of their way to educate clients about how to achieve PCI compliance and make the process simple. Many are happy to provide individual clients with additional help or advice if needed or desired as well.

7. Processing rates are the only factors that are important.

Ask a business owner that still isn’t accepting credit or debit cards as payment why they do things that way and they’ll probably tell you they don’t want to waste money on processing fees. They assume they’re being smart and saving while money is actually walking right out the door in the form of dropped sales and lost business. It’s not uncommon for such business owners to assume processing rates are all that matter when it comes to a given merchant account option.

As you would when opening any other kind of financial account, it’s important to look at the big picture which includes monthly minimums (if there are any), possible cancellation fees, and setup fees. Sometimes additional fees are charged for online access or changes made to your account as well, so make sure you’re looking at your final tally when evaluating options.

8. One merchant service provider is as good as another.

Just as there are lots of different ways to price merchant services attached to an account, there are lots of different providers out there. Some will be better fits for you than others. Some specialize in working with specific types of merchants like non-profits or businesses in a certain industry. Some focus on customer service as a selling point while others may offer clients free equipment, flexible rates, or other incentives.

Just take the time to carefully evaluate each of your options from top to bottom. No matter what business you’re in or what your needs are, there’s a merchant account provider that’s just right for you. Explore the possibilities today!

MobiusPay specializes in high-risk merchant activation, domestic and international processing. MobiusPay helps online businesses with payment processing, high risk merchant accounts, chargeback & fraud prevention, online check ACH processing and with maintaining PCI compliance. Please visit https://mobiuspay.com/ to learn more.

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