Five reasons why you should start saving when you are young

Saving is necessary to enjoy a healthy domestic economy . Think coldly: if you spend all the money you pay, you are just a payroll of indigence. To prevent this from happening, you should save at least 20% of your monthly income . Despite this, many people postpone the decision to start saving.

With phrases like “Today I can not, I’ll start next month”; “This month no, better when a new year starts” or “It’s still early, I’ll do it after 40” , they postpone indefinitely the decision to start saving . The consequence is that they never save .

In our opinion, the best time to start saving is when you are young and you generate your first income. The expenses of a twentysomething are much lower than those of a parent with a mortgage , so that this early age is perfect to start generating personal assets.

Why should you start saving when you are young?

These are some of the advantages enjoyed by people who start saving when they are young:

  1. They benefit from the power of compound interest.

As we have already explained on numerous occasions, compound interest is your ally when you invest. Thanks to him you will be able to see your money grow while you reinvest the profits that you are getting . And there is a fundamental factor for this process to work: time. The sooner you start, the greater the benefits you get.

  1. They do not need to borrow.

Young savers do not need to pay in installments the purchase of a new smartphone. Nor do they need to ask for a loan to buy a car . In addition, they can travel without using the credit card and have easier access to a mortgage. The savings gives them a plus of security that allows them to live without needing to borrow money.

  1. They can undertake with greater guarantees.

A person who is in his thirties with some savings can afford to start a business with more guarantees than someone who does not have a single euro in the current account. Saving is the safety net that allows the entrepreneur to make decisions with a view to the long term, and not worried about the need to generate income from minute one.

  1. They live more relaxed.

Someone who manages to save 300 euros a month periodically since he is 20 years old, even without having invested a single euro (which would have been an error), when he reaches forty he will have a very important security mattress . This will allow you to live without frights or fears.

An expensive repair at home, the renovation of the car or the children’s university will not be a problem for them.

  1. They can achieve financial freedom.

A person achieves financial freedom when he does not need to work to cover his daily expenses . This can be achieved through passive income or through savings. In both cases, it will be much easier to get for a person who starts saving and investing when young.

These are just some of the many reasons why you should start saving now if you are young. Or at least to inculcate the habit of saving your children if you have already seen thirty past the rearview mirror. Do not leave for tomorrow and get the batteries today.

Student life: what is good, what is bad and what is expensive

Image result for student lifeStudent life brings with it costs that can not be avoided. However, he has many tips and advice to make the financial situation more pleasant and easier to manage.

There are also many factors that will determine the cost of your studies: the choice of university, the books you will need to buy, housing, transport, etc. All of this, of course, adds to the cost of a healthy student life: outings, trips, activities, etc. Although it may seem difficult to manage, do not worry. Developing a structured budget could help you organize your spending well and spend the money wisely. A good budget will allow you, in short, to have a rich student life both academically and socially.

The budget

Budgeting should be one of your priorities before the beginning of each academic year. It will not be nice, but it will guide you throughout the year to remain responsible and to enjoy a healthy student life.

  • Make a written budget: Write a list of all possible expenses you may have. Include food, entertainment and, if you live outside your home, the cost of the return trip. When you go to see the list of expenses, you’ll be a little scared at first. But, believe it, it’s better to be surprised now than when that happens.
  • Identify your financial habits: Everyone manages their money differently. Be honest with yourself and try to identify your personality type. If you prefer public transportation to get to school, then plan a little more money for the “transportation” category. If, on the contrary, you like outings with friends, give a larger sum to the “amusements” category.
  • Add it all up: Once the list is fine, add up the expenses and compare them to your income, savings and student loans.
  • Review It : It’s important to make sure your expenses do not exceed your income. If this is the case, then review your priorities and find out where it is possible to make cuts. By making the decision beforehand, this will allow you to be safe, psychological and financial throughout the year.

Be organized

Being organized is a quality that will be useful to you not only during your studies, but in your life in general.

  • Keep an eye on your budget: If you have a budget, do not forget to follow it. Having a budget is a good thing, but if you are not overseeing your expenses and going beyond your limits, then the budget is not going to help. Keep your receipts and write down all your expenses.
  • Organize your business well: In order to stay organized, buy a binder in which you will insert all invoices and receipts. Also, if you benefit from financial aid or student loans, it is important to organize the papers so as not to get lost. Separate your binder into different categories: receipts, official papers, etc. So you will not be lost when you need it.
  • Have a bank account (check and savings): It is important to have a bank account. Even more important is having a checking account and a savings account. This way, you will be able to see what your expenses are and what your savings are. Also, this would allow you to keep your money in your savings account and transfer only the amount of money you need at the beginning of each month. This will save you from spending all of a sudden.
  • Anticipate the unpredictable: Your budget may already be tight enough. On the other hand, it is always advisable to put some money aside for an emergency or an unforeseen event. You never know when your car may need repairs or, if ever, a travel opportunity at a cheap price is offered to you.

Earn money and spend it wisely

Studies must be your number one priority. However, having a part-time job to pay for your books and outings is always an asset. In addition, it is never bad to have some extra money.

  • Find a job: Studies will take a lot of your time. On the other hand, a part-time job, even a few hours a week, could make your financial situation easier. Many students are forced to work throughout the year in order to pay their tuition fees. Take inspiration from them and try to insert a few hours of work into your schedule.
  • Avoid the University: Try to find alternatives instead of buying your school books at full price. Go for websites or look for someone who sells his old books. Ask friends if they know someone who has already taken the same course in the past. Finally, buy your office items (pen, pencil, etc.) in stores offering discounts. Quite often, the prices in your university bookstore are doubled.
  • Avoid the car: If you do not need a car at school, do not take it. A car is a big expense even if you rarely use it. The parking price alone is a big expense in your budget. Opt for public transportation instead.
    • If you ever have a vehicle, it would be possible to use it as collateral for a loan
  • Choose wisely your activities / outings: As a student, you are often exposed to a lot of activities. Make sure you make the right choices. He is very fond of spending all his money on night outings with friends. Pay attention and respect your budget.
  • Take advantage of student discounts: Many places around your campus offer student discounts. It may not be a huge help, but it can do the trick. Ask the Student Help Desk at your university for a list of places that provide this type of discount. This way, you will be able to plan your outings in advance, which will save you some money.
  • Scholarships: Apply for all possible scholarships. Your school must have a large list of scholarships. Why not benefit then? It does not matter whether the amount is small or big. A scholarship is a financial aid that no one should refuse.
  • Desires vs. Needs: Learn to distinguish between your desires and your real needs. Being a student does not mean bathing in luxury. So, by resisting your temptations and your desires, you make sure you have a healthier and more stable financial situation in the long run.

Student life is filled with stress and there are financial responsibilities. So your money should be your priority. You do not want to worry about your financial problems during the mid-term or during the final exams. By being organized and having a budget, you avoid this kind of stress and, in fact, take another step towards success.

Oktoberfest: The best beer tents at the Oktoberfest

From September 22 to October 7, there is again a state of emergency in Munich. Over 6 million visitors from home and abroad storm the beer tents at the Oktoberfest. But unfortunately most non-Munich people stumble aimlessly into the next best of the 14 big and 15 small marquees. If you want to know which tent it pays off for you to stand patiently and hopefully in costume, here are some decision-making aids to the most beautiful beer tents at the Oktoberfest.

Oktoberfest: The best beer tents at the Oktoberfest

Hackerbräu Marquee

It is not only because of the playful little clouds that hang from the blue tent ceiling called “the sky of Bavaria”. Everyone wants to go there, because the Hacker-Pschorr beer is super-tasty and the audience remained young to young. Party mood with Oktoberfest hits until curfew.

Schottenhammel

It is the oldest of the Wiesn marquees, but the audience is young. In this tradition-rich tent, the Munich mayor taps the first Oktoberfest beer a year. Without the famous call: “O’zapft is!” Beer is not allowed in any other tent. Spaten-Bräu is served here, a rather light beer for the Munich Oktoberfest, but please do not underestimate it! This is where the youth of Munich and many students meet. “Oans, zwoa, three, g’suffa” – and go on the party.

Hofbräu tent

The largest, wildest and most international tent on the Oktoberfest. Here the bear rages from the first to the last moment of every Oktoberfest day. Many Australians in carnival scraps, which they think are dirndls or lederhosen. Anyone who does not bother with traditional style-style derailments or various comasers can easily make international ties here. The only tent that pampers its audience from morning to night with Oktoberfest hits and oldies like “Who … is Alice?”, Which encourage you to join in the bellowing. Nowhere else do you see so many measure-on-ex-stemmers. The Hofbräu beer is one of the strongest at the Oktoberfest.

Augustiner-Festhalle

This is Munich’s most popular beer and yet it is a rather traditional tent, with an old-Bavarian-rustic ambience. Here you can still find the traditional Oktoberfest feeling and meet many Munich. In Augustiner you can also take grandpa and grandma. Here is celebrated across generations. The beer is freshly tapped from the traditional wooden barrels. A special taste experience!

Bräurosl

In the yellow-blue ambience, mixed audiences feel at ease, the “Gay Sunday” on the first Oktoberfest Sunday is very popular.

Käfer Wiesn tavern / Marstall / Kufler’s wine tent

Here celebrates the Munich chic and the money nobility. No entrance without reservation. Since you can only times to take a breath in front of the entrance to see maybe a celebrity scurry past or grab an autograph from a Bayern player in front of the stables.

So you do not run out of money on the Oktoberfest – the small loan from Nora Helmer

The beer measure costs in all beer tents at the Oktoberfest meanwhile already around the 11.50 Euro and at one it remains known rarely. Hendl, Obazda, roast pork, Steckerlfisch and Co are in the beer tents at the Oktoberfest very expensive, but once a year you treat yourself. Everything tastes delicious and homemade. Guaranteed a culinary delight, if you eat, before you have drunk too much beer.

At Nora Helmer, you can apply for small loans online and get approved in seconds – with no paperwork and no salary requirements. After only 24 hours, you can freely dispose of the money and enjoy the atmosphere, beer and Bavarian delicacies in the beer tents at the Oktoberfest.

8 reasons to request a loan with RapiCredit

Related imageGetting out of an emergency financial situation was never as easy as now with the help of RapiCredit.

Who in a country like ours have not delayed the payment of the payroll? That is to say, what Colombian can say that he has never been short, finishing the fortnight or the month? Very, very few could be said.

For that reason, many have to go to ask for extra help to solve a certain situation and of course, when it comes to silver, skimping on finding out the best alternative is not enough.

RapiCredit emerges as an ideal alternative to solve an emergency economic situation . RapiCredit is a free, short-term online lending platform that is easy and safe to use.

It is free so those who request it decide how much money they need and the period of time to pay it. This is a service that works through a digital platform, without the need for physical procedures, therefore its service is flexible and fast.

If this is your case and you are considering requesting a short-term loan, here are 8 reasons why your first choice when making it is undoubtedly RapiCredit.

1. Free: Request your credit is free.

2. Comfort: Disbursement directly into your bank account.

3. Ease: You do not have to fill out long forms or give guarantees.

4. Web service: No rows, no paper forms or inattentive employees.

5. Transparency: RapiCredit shows the costs of your loan before you start the process of your application.

6. Speed: You will have your money in your bank account in less than one business day (depending on your information and the bank you use).

7. Availability: You can have the service every day, at any time and from anywhere.

8. Privacy: Your friends and family do not have to know about your needs.>

Know the cash flow to manage a small business – Immediate loans

Know the cash flow to manage a small business

 Knowing the cash flow to run a small business is the most important, especially when it is just beginning. One of the most important things you can do for your business is to do a cash flow analysis in your finances. So … Why is cash flow analysis so important? Cash flow analysis simply means observing the inflow of money and the flow of money from your company. By having a detailed analysis of all your financial transactions, you will know exactly how much money should be in the bank.

If you do not track your cash flow, you run the risk of being taken advantage of. Employees could steal supplies and you would not know. The prices of the merchandise could increase without your knowledge and this would really affect your budget. For example, if your employee is paid 20% more than the industry average, you may end up unbalancing your company. While this is a generous action, it is not sustainable when you are just starting a business. This discrepancy undoubtedly ends up hurting your cash flow and your ability to successfully finance your small business.

Common mistakes made by small business owners

  • When small business owners do not feel they have the experience to manage their finances, they let their accountant do everything. This blind trust could generate problems of fraud or theft. If your small business finances are handled by an accountant, re-verify everything they do. It is not necessary to be a tax guru to see if something does not look good.
  • When small business owners do not keep physical copies and records. You must keep copies of everything in a safe place for future reference and insurance. If you do not keep copies of your tax returns, you may ignore the money you owe. This is the reason why the state tax collector can impose a levy on your business that could seriously damage your chances of obtaining a loan.
  • When small business owners try to approach payroll by themselves. Payroll will be the biggest expense of any business. Payroll also carries a high potential for tax errors. Investing in someone to manage the payroll will be worth it.
  • When small business owners extend credit to customers. If you give credit to your customers, you run the risk of not paying what they owe. Also, providing a service or product before payment hurts your cash flow because you rely on that payment to manage your business. In case it is a small company of a person, you can apply for the loans without a salary receipt, which will help you to have fresh capital.
  • When the owners of small businesses assume the automatic transformation of the inventory in cash. When you buy a new machine or order a new merchandise, it does not instantly turn into profits. Many small business owners mistakenly overestimate how soon the products will be sold or will soon see an increase in sales.
  • When small business owners, especially new immigrants, incorrectly report their taxes. Because you do not want to pay a lot in taxes, you may be tempted to report fewer profits or report excess losses. This is a bad idea because it will affect your chances of obtaining external financing and could cause you problems with the state tax collector. It is better to work with a tax specialist to minimize your tax liability.

Tips to manage cash flow

Some tips that could help you better manage your company’s cash flow can be cited as follows:

  • Begin with the creation of a profit and loss statement. Simply verify the status of your company’s account. In a spreadsheet or with your accountant, document all financial transactions, including rents, utilities, payroll, supplies, interest on loans/credits, insurance and sales. Keep copies of all these invoices.
  • Keep all your documentation organized, such as invoices, tax returns, receipts, etc. The first thing the lender’s request is the documentation. It often happens that many small business owners do not know their monthly sales average and would have to look for it.
  • Always save some of your winnings. Do not reinvest everything, because you will need emergency funds. We recommend reservations that can support all your expenses for at least six months. You may need more protection if your commercial industry depends on the season.
  • Companies that provide accounting and auditing services are a great ally when a cash flow analysis is required. These companies aim to help small business owners make better financial decisions and even advise them to get the right loans to help their business prosper.