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Category: Finance Business

Finance Business

Initiate Savings with Recurring Deposits

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Recurring deposits are a good starting point for those who wish to create regular savings and also earn good interest on the same. This article looks at the benefits of RD accounts for your financial health.

As a new investor, you are justifiably cautious about spending money on risky investments that might tank. You are always on the lookout for fail-safe options in stocks and bonds, but most market-linked opportunities always come with an underlying element of risk.

It is time to turn to a simple, affordable and quite safe option: the recurring deposit.

Initiate Savings with Recurring Deposits

What is a recurring deposit?

A recurring deposit or RD account is a simpler version of the fixed deposit. In a fixed deposit, you set aside a lump sum amount of money in the account, and it is paid a particular rate of interest throughout the deposit cycle. At the end of the deposit tenure, the money is returned to you with the interest earnings on it.

However, in a recurring deposit, you deposit equated monthly sums towards a larger whole. You can open an RD account if you have a savings account with your bank and a proven source of monthly income (since the deposit is auto-debited from your account every month). It is a more affordable form of investment than the fixed deposit, since you can pay as little as Rs 2,000 per month towards the account.

Leading banks in India offer competitive recurring deposit interest rates. You can check the recurring deposit interest rates being offered for certain tenures, and the minimum deposit amount to be paid monthly, on your bank’s smartphone app or website.

How does it help your finances?

* It encourages you to save. Though each of us would like to save a part of our income every month, it can become difficult to do so when there are several expenses competing for a share of your salary. However, since the RD money is auto-debited from your account every month, no further intervention is needed on your part. Thus, money is automatically saved easily.

* It is affordable and safe. The recurring depositis more affordable than most conventional investment options, with a good payoff. The recurring deposit interest rate remains constant throughout the deposit tenure, irrespective of market rate changes. So, you can calculate the RD appreciation even before you make the investment, by using an online RD calculator. * It is highly liquid.There may come a time when you need money for an emergency. The RD account can be liquidated easily during a financial crisis, and the money is deposited in your account the same day when the bank receives your termination request. However, you are not paid any interest on premature termination of the recurring deposit account. … READ MORE ...

Finance Business

The Career and Successes of Erjon Dobi

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The Career and Successes of Erjon Dobi

Erjon Dobi, born in Durres on March 25, 1992. He has completed studies in the United States for an 8 year period from 2006 to 2014. He studied at the reputable Middlesex School, located in Concord, Massachusetts, and then graduated from the University of Richmond, Richmond, Virginia with an average of 9.5 in Business Administration Degree with a focus on Economics and Finance.

Since he was a student, he was able to demonstrate his skills, becoming one of the students highly honored by the academic staff, as well as by his colleagues. He was a member of the Student Managed Investment Fund, where he has managed, together with the group, a fund of more than 500,000 USD.The funds were invested in the US stock market.

In the course of the management period, the fund increased by 18% as a result of efficient investments. Erjon Dobi was also member of the School’s Economic Team and member of the Student Business Association. In the summer of 2014, Erjon returned to Tirana to start a professional career, as an honored student by professors and the university staff.

After returning to Tirana, now with a rich background, in 2016, Erjon has been appointed as the CEO of Dobi Management Shpk. In 2018,  this company listed assets worth over EUR 11,000,000. In addition to being the CEO of Dobi Management Ltd, Erjon Dobi is also the Financial Manager / Member of the Board of Directors for InfoSoft Office Ltd.

InfoSoft Office, founded in 1996 as part of InfoSoft Group, is specialized in meeting the needs of office materials, stationery products, and printing consumables for every market segment. The company is the leader in the Albanian market with over 20 years of experience, thanks to the professionalism and commitment to provide premium-grade products for a broad customer base.

Moreover, he is also the Special Projects Manager / Board Member of the company Algrafika Ltd. Established in 1999, Algrafika is the largest paper distributor in Albania. The company supplies paper and cardboard with over 300 shippers in the Albanian market, as well as various clients in Greece, Kosovo, Montenegro, Isareal, Macedonia, Etc. Over the years, Algrafika has established strong connections with the world’s largest paper making companies, allowing it to bring innovative products to the market with the best quality-price ratio. Furthermore, Dobi has contributed widely in the process of company growth.

Check out one of the successful investments of the company in the following link:

https://www.youtube.com/watch?v=FcAa0B6Gr50

… READ MORE ...

Finance Business

Individuals Such as Winegrowers, Farmers, Cultivators, and Other Agricultural Professionals Can Apply for Particular Credit Products

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If you need agricultural credit, then you should be aware that many different professional credit brokers are at your disposal. As a case in point, did you know that you can get any farm loans from Sprout Agriculture? Moreover, you ought to be mindful that many different organizations have farm loans available for farmers.

Individuals Such as Winegrowers, Farmers, Cultivators, and Other Agricultural Professionals Can Apply for Particular Credit Products

 

Also, you ought to bear in mind that most often the loan is provided for a set number of years for fixed-rate credit and a more significant number of maximum years for variable-rate loans. Also, you should consider the fact that sometimes a short-term loan of up to six months may be able to advance up to three-quarters of the price of a property to a young farmer. On the other hand, you should keep in mind that the main consequences of loan accumulation are over-indebtedness and the need for a professional and personal recovery plan.

Therefore, you should be careful to make sure you only borrow as much as you need. Unique in the US, there are also some financial cooperatives offering credit and savings solutions oriented exclusively towards projects that involve agricultural aims. Consequently, you should give some thought to the fact that these loans, therefore, fulfill the same role as traditional credit.

Hence, you should also note that there are loan supplements, which can also serve as a replacement for the personal contribution. And in the first figures provided by the lenders, you should also note that it the profile of borrowers using interest-free loans must meet specific sets of criteria. Individuals such as winegrowers, farmers, cultivators, and other agricultural professionals can also apply for credit products that are just for farmers, and these loans are offered under certain conditions.

Moreover, you ought to be conscious that their overall income from their farm will be considered by most banks. In short, a farmer’s business plan must also consider many factors which exist beyond the purely financial aspect. Hence, you need to think about, at the same time, the reality of your agricultural possibilities, your profession, and your psychological and physical limits. Therefore, you might also wish to give some thought to your limits that are both psychological and physical, because you need to have steady nerves if you want to be a self-employed farmer.

First specialized in financial services for the rural world, there are also many farmers’ banks that have become a network of cooperative banks with the aim of helping agricultural businesses. As a case in point, you ought to bear in mind that financial support via landlords is now essential, in the same way, that not all farmers can always own their farms. However, you should consider the fact that farmers face various and varied financial problems. Therefore, you should keep in mind that farmers may suffer from a lack of professional investment, a lack of cash, or a lack of farm buildings. At the same time, you should also understand that all of these issues may cause … READ MORE ...

Finance Business

Four Small Business Accounting Necessities

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Running your own small business can be both incredibly challenging and incredibly rewarding. Often you have to wear a variety of different hats from the CEO to Marketing Director to Accountant.

Four Small Business Accounting Necessities

However, one thing that is incredibly important for any small business to succeed is correct accounting. If you don’t stay on top of your marketing expenses, your debt, and your receivables, your business will inevitably run into trouble. Accounting is one of the necessary chores of all entrepreneurs, but it will help you manage your operations while preventing the IRS from wanting to audit you. To keep your business moving towards profits and away from the tangled mess of a receipt box, you need to get your small business accounting in order with these four tips.

Keep Your Business and Your Personal Accounts Separate

A major mistake often happens to new business owners when they simply combine their business and personal accounts. Instead, it is important to have a dedicated business account. This should include a credit card, checking account, and even a saving account. This will save you time and money when you need to tally your deductibles. It can be difficult getting this organized right when you are beginning, but it will save loads of time and headaches at the end of the year.

Track All of Your Expenses

Another key to keeping track of your small business accounts is to make sure you are diligently tracking every expense. When you go through your expenses, it is wise to organize them by categorizing each expense and labeling it. This will help you keep track of your cash flow while preventing you from missing any possible write-offs for your taxes. When you use your business credit card for your purchases, it will be easier to keep track of expenses. This will prevent you from storing all of your receipts in a shoe box. It will also help you earn cash back or rewards when you pay for all of the different items your business needs. If you need to pay in cash, make sure you keep a digital file of your receipts. It can also be incredibly helpful to use accounting software to keep track of your money.

Make Your Self Audit Monthly

Performing a self-audit can help you keep an eye on your financial health as well as how well your clerical system is working. Audits can be as simple as double checking your books each month to find a delinquent or late account that you still need to collect on to the more complex needs of bigger businesses. When you keep track of your finances monthly, you can evaluate the seasonality of your business as well as your expected business trajectory and growth. It is important to keep track of the numbers both monthly and quarterly to keep an eye on any potential areas for improvement.

Use an Accounting Software Program

Using a business program like QuickBooks allows you to keep track of your expenses … READ MORE ...

Finance Business

Text-To-Give—A Powerful Fundraising Tool for Non-Profits

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Research has shown that ninety percent of the world’s human population can communicate via text messages. Most of these text messages are immediately read as soon as they have been received. Today, the text-to-donate initiative is the easiest way to donate quickly and secure. It allows the church to interact well with donors who can give whatever they have from anywhere in the world. Once an individual has received the church-giving-number, he or she can easily donate directly from their phones. People do not have to be physically attending a church service to make their donations. Text-to-give does not apply to churches alone but also to other non-profit groups.

 

Text-To-Give—A Powerful Fundraising Tool for Non-Profits

How Text-to-Give Works

There are different ways text-to-give works for both donors and non-profits. The first step is to select a reliable software provider. There are various text-to-give platforms worldwide such as a bot framework. You need to ensure that you choose a platform that focuses on what your non-profit needs are. The platform should also be able to keep donor information confidential and secure.

The second step is to get a phone number – The text-to-give provider should be able to give you a working phone line that is unique and tailored to your non-profit organization. This number will be useful since donors will use it to text in their donations. The third step is to promote your non-profit campaign. After linking up your non-profit organization with the text-to-give platform, it’s time to get the donors attention. You have to get the word out using the various communication strategies. Focus your efforts primarily on letting the donors know that they can give through a text message.

For the donors, there are three significant steps involved too. Step one includes messaging a phone number. Once the non-profit’s text-to-donate number is known, a donor sends a message with the amount to donate. For instance, if they need to give $100, then they text “100.”

In the second step, the donor receives a link attached in a confirmation message. The link when clicked redirects the donor to the next level. In the third step, the donor is redirected to a pre-written email. The donor will have to fill a minor form if it is the first time giving, outlining their credit card information. The subsequent donations do not need any form filling. They only have to send the amount and click the confirmation message. Different organizations can benefit from the text-to-give platforms. Some of these include churches and faith-based institutions, colleges and universities, animal rights organizations, international NGOs, K-12, arts and culture, disaster relief, and so forth.

Text-to-Give Best Practices

Help your donors understand the process. Helping your donors go through the process step-by-step gets them excited and motivated. You can use social media posts or live events to explain every step. Promote text to give across multiple channels. This practice will help get your message out very effectively. Accomplish this by employing professional marketing tactics such as promoter T-shirts, … READ MORE ...

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