OLBlog

For many years now media publicity was pie-in-the-sky for advisors aspiring to “influencer” status. The goal was to attract attention and ultimately fill their prospect pipeline.

Often times, being a media angle required a certain amount of charisma and the ability to spout market commentary. It’s different now in that there are more opportunities. These days, while publicity is still sought after, it’s running a distant second to being an online influencer.

“These days, publicity is running a distant second to being an online influencer.”

Any financial expert willing to invest time and effort into developing and sharing their wisdom can work towards their vision of becoming an online financial influencer – and you can choose whatever niche suits you.

Since advisor podcasting happens online, it has many advantages versus having to show up at a local broadcast studio or meet at the stock-exchange for an interview. Here are 10 benefits that will either introduce the idea of starting your own advisor podcast – or will confirm that if you’ve been thinking about it, now may be the time to start.

TEN BENEFITS OF PODCASTING

1. Instant, Deep Credibility That Resonates With Your Ideal Audience

How do you achieve instant credibility? Financial Advisor credentials no longer work, there are too many. A good website helps. A podcast really drives it home. And you end up talking about the challenges and mindsets your best clients exhibit so your podcast is likely to resonate with and attract more ideal clients.

2. Top-Of-Mind Awareness Without Constantly Interrupting Your Audience

Podcasts are inviting and uncommon in the financial advisor community. They are also easy and fun to produce, so you are more likely to be a consistent sharer. This bodes well for top-of-mind-awareness.

3. More Referrals Than Ever Before; From Clients, Prospects, & COIs

Have you ever considered why you don’t get more referrals? Is it because you sound like every other advisor? Clients and COIs want to be proud to refer you – it makes them look good to their network. Make them proud, start your advisor podcast.

4. Significantly Increases Your Search Engine Results With Original Content

I wouldn’t bank on search engine results filling your pipeline, but it’s well worth noting that the best search engine rankings come from organic content delivered in varied media. After 12-18 months of producing original content, you’ll start becoming a search engine force locally. Don’t forget to define your meta-info when posting to your podcast blog.

5. Daily Expansion Of Your Digital Network – Even While You Sleep

When someone “likes” or “shares” your content online it’s huge – it immediately shows’ up on your 1st-degree network’s feed/page. Remember the old Faberge Shampoo commercial? And they told two friends, and so on, and so on. Do your self a favor, search for “best times to share social updates” to see when most of your connections are paying attention and on what channels. That will boost your chances of network expansion.

6. Enhances Focus On What You Do Best & How You Create Value

When you start producing content, it becomes a broad focus. You can’t help but be challenged to find new topics; challenges clients need to know more about. It not only drives your podcasts but you become acutely aware when you are surfing the Internet of having conversations with investors and peers. Some of the most inspiring podcasts may come to you from entirely different industries. One of my advisor clients listens to personal productivity podcasts and gets lots of great ideas for his podcasts. It’s also a very good idea to focus on lists. People love lists. You should know too. It’s an easier way to develop content for you then writing concepts and paragraphs.

7. Attracts Clients Who You Enjoy Working With Most

Podcasts make it easier for your target audience to “get” you. They can experience your personality, your style, and your professionalism all in a matter of minutes. It’s a fantastic way to get to know you. Ideally, your advisor podcast will attract people who you enjoy working with because they get you and better understand your value having listened to you.

8. Positions You As The Trusted Expert (Advisor)

Most advisors don’t have their own advisor podcast. It helps you stand out, and when you speak, it positions you as an expert – a trusted advisor. The more in tune you podcast is with your audience, the better. The more you share and speak to your own ideas the better.  Your value will resonate with your audience.

9. Significantly Reduces Your Marketing Costs & Increases ROI

Podcasting can be inexpensive. Promoting it takes some time, but that can easily be handled in house. There are free podcast blog tools. Your only potential larger cost is getting your graphics right – don’t cheap out on this – it will really separate you from a lot of peer financial podcasters.

10. It’s Fun.

Success! You landed your first job right out of college. You chose to start working right away instead of traveling. Your hard work has paid off by you securing your first step on the career ladder, now it is the time to make smart financial choices. 
A survival guide can help you stay on track when looking for your job. Landing a good job is only part of being able to build wealth and being successful. It is just as important to manage your money well and start saving to make it work for you. Even if you are not making a lot of money, these habits can set you down the path to building wealth and being successful.

5 Financial Habits to Start With Your First Job

1. Save for Retirement

The first thing you should do is save for retirement. If your company offers a matching contribution, then contribute up to that percentage to take full advantage of the match. If you are out of debt, you can work up to saving between ten and fifteen percent of your income for retirement. The earlier you start, the lower the percentage you need to contribute because your money will begin earning interest and increasing your retirement savings. You will eventually reach a point where the interest is greater than your annual contributions.

2. Budget

Although this may seem like an obvious step, it is one thing that many people struggle. Creating the habit of planning your spending and sticking to your budget will help you do more with the money that you earn. You can make a significant amount of money and still end up in debt or with little to show for it, or you may not make as much as you thought you would. Learning to budget is the key to building your wealth and taking control of your finances. If you do not know how to plan, find budgeting software and take classes about budgeting. The YNAB company offers a variety of free training classes you can take to help you get control of your budget. Your church or bank may also offer budgeting classes.  

3. Set Goals and Create a Plan

It helps to have a clear cut plan when it comes to building wealth and as you go throughout your life. Take the time to set financial goals each year. A part of this process should be learning about the next step so that you are ready. Read books about finances, subscribe to magazines, and attend classes so that when it is time to take the next step in your plan you are ready. 

4. Avoid Debt

Once you land your first job, stop using your credit cards. Limit the amount of debt that you take on from here on out. Other than buying a car or buying a home, you should try to pay cash for everything else that you need. If you currently have credit card debt, personal loans or student loans work out a plan that will help you to pay off your debt more quickly. Your budget will help you to reach these goals. Take a minute to add up how much you owe in debt payments each month and then determine what you could do with the money if you were not in debt.

5. Give Back

Whether it is money or time, make it a priority to find a way to give back to your community or the world in general. There are so many people struggling throughout the world, and you have the opportunity to make a difference. If you establish the habit when you are young, it will be easier to continue to help as you get older and busier. The volunteer opportunities may be simple like volunteering for a day or two each year at your local food pantry or more extensive like doing volunteer tourism. No matter what you choose, be sure to research to make sure that the money or time that you donate is doing the good you want it to.

When unexpected costs arise, and one has no savings to respond, it may seem attractive to borrow a payday loan. In the United States, that mechanism offers quick cash and are very easy to get for people who have a job.

However, a payday loan is the most costly way to get money borrowed. For example; If you take out a loan of this type to buy a new car battery and you can not repay it on time, you could end up paying more in charges than you paid for the same battery.


Before you take that route, try to understand why you should avoid this type of loan and learn more about the alternatives offered.

HIGH PRICE

Payday loans are small and short-term loans that are easily obtained because the lender rarely checks the borrower's credit. You write a check for the amount you want plus the charge the lender charges or give the lender permission to automatically withdraw money from your bank account after you receive your next paycheck.

The accusations that these banks charge are high, typically 15 dollars for every 100 dollar that is borrowed. When the agreed date arrives, you can let the lender cover the loan, or the debt can be extended, dilating the payment in exchange for more charges.

Here's the problem: High costs charged by lenders raise the effective interest rate to an extreme level. A fee of 15 dollars to borrow $ 100 may seem like an interest rate of 15%. In fact, due to the short term of the loan, it is equivalent to an annual rate of 390% - more than 10 times the typical rate for a cash advance of a credit card, which is a costly option.

ALTERNATIVES FOR PAYMENT DAY LOANS

There are many and better options that payday loans - in addition to others that can be worse. The following strategies are some alternatives for going through a financial emergency.

Personal Loans: Unsecured loans - or "personal loans" - from banks and credit associations are preferable to those with access to this class of lenders. These typically come with a fixed interest rate and require the borrower to repay the debt with a fixed monthly repayment program. Financial companies offer similar products, called installment loans.

"Traditional term loans are the best alternative to payday loans for consumers because they offer a clear path to get rid of your debts through equal monthly payments that are manageable," says Karen Klugh, a spokeswoman for the American Association Of Financial Services, an industrial group.

Term loans also offer you much more time to pay off debt. This funding usually allows you to borrow more money at a considerably lower cost than payday loans.

Paycheck Advance: Ask your employer for a prepayment of your salary, which usually does not cost you anything. Some companies also offer low-cost loans to workers who are going through a crisis. If you have been a good employee for several years, this can be an excellent choice.

Indulgence of Accounts: Look for non-interest-bearing creditors, such as utilities or cable-television companies, and find out if they accept late payments. Use whatever money you have left for not paying those bills, for your needs in case of an emergency. People who already have outstanding loans can ask for modifications to their debts to help them increase more money flow.

Short Term Advancement Account: Some banks and credit associations offer short term cash advances as an alternative to the payday loan. While the costs are not so high, they can still be quite expensive. By law, credit associations can not charge more than 28% of the annual percentage rate on small loans at short installments so they may be more reasonable than banks.

Church-backed loans: Some churches now offer members who are faced with small financial crisis loans at quite low rates. Find out if your parish or temple offers small loans for emergencies.

IN CONCLUSION

If your only option is to borrow, a personal or term loan is preferable to many of the other options, although a good credit history is needed. Those with a poor track record should consider all other alternatives before choosing the payday loan and risk falling into a vicious circle of debt.

________________________________

This article was written primarily for US consumers to aid in their personal financial decisions. It may be that some advice or statements do not apply to readers in other countries.

Can money buy happiness? Money can't buy happiness, but it can make your misery a little more comfortable. Will becoming rich make you happy? How does a person’s amount of wealth affect their general well-being? Studies say it's true to some extent—but chances are you aren't getting the most bang for your buck.

These are some of the questions that Dr. Ryan T. Howell tried to find out.

An assistant professor of psychology at the San Francisco State University, he conducted a study to know the role of finances and consumption in people’s happiness and general quality of life.

Below are five facts that his research discovered after analyzing thousands of participants in the Personality and Well-Being Lab at the university.

1. Credit card debt is an enemy of happiness.

There’s joy in buying something we like. However, that happiness is short-lived if the purchase would later put us in debt.

According to Dr. Howell, the financial stress of having unpaid credit card debts will always overpower the momentary enjoyment of experiencing retail therapy.

Thus, if you want to become happier, it’s a good idea to focus on paying all your credit card debts first.

2. Spending on others creates happiness.

People who spend a portion of their income towards charities and buying gifts for loved ones have a happier disposition than those who don’t.

Indeed, money can buy happiness, but only if you spend it on other people.

Several studies have also arrived at the same conclusion. One of them is Michael Norton, who conducted a social experiment, whose results he shared in this TED Talk.

3. Happy people invest on experiential purchases.

Happy people spend more on meaningful life experiences than buying stuff that has no other purpose but to satisfy their desire of owning it.

For example, enrolling in a dance class with your spouse would make both of you happier than buying a flat screen TV because you only want to impress your neighbors or friends with it.

Dr. Howell notes that buying stuff that will help create meaningful experiences with your loved ones are also good. As such, purchasing that television so you can have movie bonding sessions with your spouse is acceptable.

4. Never buy something just to impress others.

A lot of people make unnecessary purchases because they have this weird expectation that it will impress their friends and consequently, get compliments for it; and thus making them feel good.

This mindset of your putting your happiness in the hands of others often leads to disappointment because people don’t always react the way we want or expect them to.

The research shows that those who are true to themselves and draw their happiness internally have a better disposition in life than those who expect happiness to come externally.

5. Tangible goals make saving money easier.

When asked, people say that it feels good when they’re able to save money. So why can’t more people save? Because spending money also feels good.

Thus, Dr. Howell advises that if you want to have a stronger motivation to save, you need to set a clear financial goal. This way, you can visualize that future purchase to fight off the temptation of an impulsive purchase.

For example, let’s say that you want to save money for a one-week family beach vacation.

When you’re tempted to buy a pair of shoes because it’s on SALE, imagine buying plane tickets instead. Then imagine your whole family having fun at the beach. The craving to buy those shoes on impulse can quickly go away.

Final Thoughts

Becoming rich cannot guarantee happiness. However, practicing good financial habits, learning the proper mindset about wealth, and spending your money on the right things can help you find long-lasting joy and contentment in life.

If you have little capital and a good project, do not despair, there are ways to get financing for your company, and in this article, we will explain how to finance your project. 

These are the five best way to get funding for a small business.

1. The different funding resources:

• Savings: An entrepreneur who needs money to invest must start by looking at their own personal resources. If you do not trust your idea, how will others trust you?
• Family, Friends, and Fools: those who know you better and someone very reliable can give you a good part of the money you need.
• Crowdfunding: The Internet allows you to finance your project thanks to a large number of small contributions on specific platforms.
• Bank credit: there is not much availability of credit, but banks continue to lend to promising projects. You can also count on ICO lines.
• Venture Capital: so-called Business Angels and Venture capital companies have been much less affected by the crisis than banks, are an excellent resource for reliable and very professional projects.

And do not forget that to ask them to invest in your project, it is essential to have a business plan ready.

2. Start when you already have a client:

Why put to spend money on rents, tools, salaries and services when you have not yet got a customer? If you had clear your project and prepared your business plan, you can go looking for clients before formally setting up the company. This way, you can use your first sales to take part in the initial investment.

3. Look for alternative solutions to the investment:

Renting can come out more expensive than buying, but it has a big advantage: you do not have to invest and do not need financing: you are paying month to month while using the object of the rent. If things go wrong, or if you no longer need this tool, stop borrowing it and stop having an expense.

What seems obvious for a local (few new businesses start spending $ 300,000 to buy a real estate asset), should also be considered for any investment of significant value (tools, technology, furniture, transport elements). Apparently, it must be ensured in each case that rent is a viable option, that prices are acceptable and contract duration commitments do not bind us for more than desirable.

Although we pay more than we would be paying off and paying interest, it has the immense advantage of allowing us to prove our concept. If it works, with proven results it will be much easier to get the financing that will enable us to buy and let the rentals.
Also read: Funding a Business: How to Get Startup Money

4. Charge everything in cash

Apparently, if we need funding for our project, leaving a payment deadline to our clients forces us to ask for more money to finance the others. That's not counting the risk of unpaid bills. That is why it is very advisable to work in cash, although in some sectors is not so easy. Remember that there is only one thing worse than not having a customer, and it is working and invoicing and then not charging.

5. Look for cheaper alternatives

At first, you are tempted to buy only new materials and tools, however, in many cases, there are second-hand equipment, much cheaper and can serve us correctly. For example, if we are going to build a restaurant, we may want to buy new furniture (tables, chairs, etc.), but inside the kitchen, we could install the equipment of another restaurant in good condition but second hand. In times of crisis and unfortunately with many bankruptcies in all sectors, there are opportunities to take advantage of.

We hope these tips will be useful to future entrepreneurs. 

Recommended reading list:

• 10 Financial Tips for Startup Entrepreneurs
• 5 Financial Mistakes Small Businesses Make
• 8 Steps To Getting A Business Loan For Startup
• How To Create a Business Plan in Just 2 Minutes
• How to Quit Your Job and Start Your Business in 90 Days
• Choosing the right place before financing your project

Sometimes you may need to borrow money from a bank to fund your business. When you are applying for a loan, you have understood the terms of the loan of the bank. Borrowing money from a bank can be helpful for companies, but you shouldn't take it for personal needs. 

First try to get money from other sources, or create a long term plan to start your business. Then try applying for a bank loan.

1) Try to finance as much as possible with own resources

The first person who has to be convinced of the profitability of your idea is you, and if you don't invest the money available to finance your project, it is logical for the bank to wonder why it would have to have more trust in the company than the entrepreneur himself.

To avoid the conditions associated with credits, a good option is to resort to the so-called "Love Money," which is sometimes also known as 3F (Family, Friends, and Fools: family, Friends and Fools). The more money you have raised for your project, the more you will prove to the bank that you are not the only one who is risking it.

2) Be and be professional at all times

The second capital aspect is to be professional. The image is critical. An interview with the bank is prepared, presenting itself informally would take unnecessary risk. It is necessary to review key aspects of the project and to be clear who will be the customers, the reason that will decide to choose our product or service, what will be the competition, estimated sales, and all financial aspects in detail (Investment, profitability, treasury).

All banks ask for a business plan (also called a plan of activities). This document is important: it must be professional and very well synthesize the implications of the investment. It has to have an excellent presentation, captivate the attention of the reader and not be a small set of raw data. Likewise, it is fundamental that the entrepreneur has it well understood and knows how to explain to the banker.

The image, as we have said, is fundamental, and typically showing a professional image is only achieved by being professional and working the details.

3) Do not try to finance long-term needs with short-term credit policies

The entrepreneurs have to be very transparent about their financing needs, and not fall into the error of funding the long-term with short-term tools. Unfortunately for Europe, this has happened a lot during the years before the crisis, and this imbalance made the companies in a situation of extreme fragility. As soon as the bank did not renew the policies in the short term, they were already drowned and could not cope with their commitments.

If you have a project of a planned duration of X years, you have to adjust the financing to this duration, with a repayment of the debt in different installments, depending on the benefits expected to generate the investment.

4) Carefully review the clauses

The bank always wants to protect itself, and basically has two ways to do it: either charging too expensive for the risk you are taking is worth it, or putting clauses that will allow you to limit the risk.

To assess how expensive a loan is, it is not enough to value the interest rate (even if it is the primary criterion). You need to consider looking at other aspects, such as commissions or other services that the bank may want us to hire.

The clauses that allow the bank to reduce its risk also have to be analyzed with a magnifying glass, and especially the consequences that would derive from execution by the bank of the guarantees offered.

5) Apply for credit to several banks

The bank should be considered as a supplier as anyone, but as it has the power to decide whether or not to accept your product, and under what conditions, sometimes you believe too much that "ask for credit" and you end up thinking by mistake that you do a favor.

The reality is that there is competition between banks and not working exclusively with one. The bank has to know that you have other sources of financing and that if you do not like their conditions, you can go to see another.

Any loan you ask, however small, you have to call at least half a dozen banks. It is even possible to put into competition agencies of the same financial institution since they often have different policies and objectives.

Get your personalized professional business plan.

You probably have heard or seen in social networks and news the word crowdfunding, although, perhaps, you don't yet know its correct meaning. Crowdfunding means micromanaging or corporate financing, i.e. it happens when a different number of people contribute an economical amount to finance a project.

Crowdfunding has its origins in the first Open Source projects when developers unselfishly offered their creations and works for others to use. A resounding success that caused these developers to start soliciting donations to get on with their jobs. It was this relationship between creators (who did not have enough economic freedom to continue their work) and users (who were interested in new creative and innovative projects) from where crowdfunding came about.

Definition of the concept of crowdfunding

Crowdfunding is the corporate financing through the Internet. It is cooperation, carried out by a group of people to get money (or other resources), joining efforts and initiatives of other individuals or organizations. It is also known as "mass outsourcing" or "voluntary subcontracting" (both concepts are unknown to most).

The immediate antecedent to crowdfunding is with the donations or even the patronage that was practiced centuries ago. The term continues to renew now with social networks, online communities, and micropayment technologies.

Nowadays, crowding has extended this form of corporate financing to other plots. Creative projects (recordings, book editions), solidarity projects, business startups, shops, etc. which has given rise to multiple online platforms. In the search for crowdfunding, that offers their "space" for the inclusion of these projects, which indicate the type of initiative, the time during which contributions can be made, the total amount needed to finish it, etc.

There are also "rewards," as a gift to the people who contribute money to the project: an acoustic concert at home, a dedicated photograph, etc. Something about the idea that you could carry out and reward that disinterested help.

Last year, projects worth $62 million were funded in Spain through crowdfunding, which is 114% more than in 2015. So we can say that this corporate financing (made up of individual contributions, mostly) is the future for many ideas and projects to see the light, whether in the cultural sphere or in the small business or business.

The use of crowdfunding

If you are thinking about setting up a business and do not have enough money you have several options: 

• Ask for a loan to your bank,
• Win the lottery
• Publish your project on a financing platform. 

Crowdfunding or collective financing, is a form of investment to carry out a project through private donations, companies or investors.

In return for these gifts, small rewards are often offered that are related to the project being funded. In this way, it can be merchandising of the product, an appearance on the creator's web or the anticipated access to the product itself.

In fact, the more creative and attractive the rewards are for your patrons, the more likely you are to be able to help fund the project.

But how does crowdfunding work? 

The platforms specialized in this subject are the point of convergence between the investors and the promoters of the project. In this sense, the most normal are to establish a period of one to three months to get the money.


At this point, there are two modes: the "all or nothing," and the "everything counts." In the first case, if you do not receive the total amount of funding you have established, the co-financiers do not contribute the money, since you have not got the desired financing, and your project will not be carried out. Of course, some platforms let you promote your idea again with a new crowdfunding campaign, even though the first one has failed.

Education begins at home, and the teachings of parents touch every aspect of people's daily lives, especially those that relate to money.

All parents want to leave the best legacy to their children, from their relationship with other people to instilling pastimes such as cinema, reading, a liking for the local football team, including religious teachings and, of course, financial institutions.

So when it comes to passing those 'pills' of wisdom to future generations, those permanent lessons we learned from parents are those that are fixed at the top of mind of people.

The Business Insider portal focused on talking to different types of parents, who had children of different ages, about the importance of good practices against money in the education of their children, beliefs that they will inherit from their parents and. Which they wish to pass on to future generations.

In this way, he gathered the different appraisals in 8 great lessons on the use of money and we tell you below.

"Debts take away your freedom."

If you set to limit your expenses, then you will have more freedom. Shares take away your freedom, so it is best to avoid them whenever you can. And if you borrow, be smart and get the deal that is most favorable.

"Do not spend what you do not have."

Having too many credit cards with such high-interest rates can generate a black hole in your finances if you end up overdue. Not to mention that paying off your card balance can take many years.

"The Importance of Working on Your Money"

Working hard to earn your own income is perhaps the best way to understand how difficult it is to get something and give it its fair value.

"It's not the big expenses but the small ones that can affect you."

Often people pay more attention to higher costs such as those in which they have to economize more. For example, on a holiday they are more set on paying cheap tickets and hotel, lower a little on food, but do not look at the smaller or 'ant' expenses that end up damaging the budget. Then, they spend more on going to the aquarium or the zoo, buying a change of clothes that they saw in a warehouse or taking travel reminders to all acquaintances.

"You can make money in two ways."

In one of the answers, one person remembered that his grandfather owned a hair salon, which he handled for most of his life. During his working life, he achieved sales of about 500 thousand dollars, using only that income. "He told me," You can make money in two ways: with your muscles or with your brain."
Also read: 10 Money Mistakes Wealthy People Don't Make

"Budget at a relatively early age"

Parents give their children a sum for their relatively generous support by giving them a lot of emphasis on the discretionary use they should be paid, for example, for expenses such as movies, costumes, fuel, or birthday gifts. But for other items, such as books, sports outfits, parents are the ones who bear the cost. "We knew that the funds we gave them were insufficient to enable them to live a great life; If they wanted more then they should work for it. That teaches them the value of money, in an environment where kids drive expensive cars to go to high school. They learned to budget and make their decisions . Now that they have grown up, they are benefiting from that lesson, "says the testimony of parents.

"Define what you want or what you need."

You have to learn the difference between 'wanting' or 'needing.' If you need it, then you can include it in the budget, but if you want it or want it, then you must have enough money to buy it, either because you saved it somewhere.
Also read: Money Is A Tool, So Stop Treating It As The Goal

Do not mess with what others do or have

If you have an individual income, distribute it according to your possibilities. There is no need to look at what others have or gain, that destroys their happiness. If your budget is limited, live within your means. Make a budget and set up a savings plan and implement it. Wealth builds step by step.

Do you have a great business idea? Before getting the financing, you have to "do your homework." We tell you how. If you were the investor what information would you research before you invest? Learn the three essential factors to consider when mentors making their investment decisions for you.  

Many entrepreneurs feel the urge to go out and look for capital as soon as they come up with an excellent idea or at the first sign of growing their business. However, you must first believe in your company before asking others to believe in it. It sounds obvious, but it does not happen overnight.

Then you should try to "sell" the idea of your product and its potential consumers. Research and market tests. Get figures. Investors are drawn to entrepreneurs who can say to themselves, "If I spend $ X, I can get $ Y of profit." If you can express yourself and also show growth figures for your company, you will find people who want to participate in your business. 

In the entrepreneurial world, there is a terror statistic: 9 out of 10 startups are going to fail. That is the hard truth, so, first of all, you must prepare yourself to fail a couple of times. Be sure to "hold back," keep an open mind and do the right research before approaching an investor.

Here are some useful steps:

1. Prepare the information

You can not control all the metrics and results of your company when you are just picking up the flight and, most importantly, you still can not guarantee a profit. But there are some factors that you can control, and you must have a strict control and follow them. You should have them ready by hand before you go out and look for financing.

Use the digital tools, from a focus group or invite your friends and family to try your product to make an examination of your ideal market. Piece by piece, you can go arming a business plan.

This data will give you the credibility to test prospective investors who understand the past, present, and future of your business.

2. Not everything works for everyone 

There are many places where a startup can look for investments, but that does not mean that it is a simple process.

You need to know in advance who you want to approach. Research the history and portfolio of each investment portfolio to find the perfect partner for your business. It is essential that you know who you are going to talk to before you meet with a potential investor. Not only that, you know why this firm or person could be the perfect complement to your business.

It is also good to have references from your network of contacts, someone who can validate the quality of your person, equipment, and product and can speak well of your company to the investor.

3. The right place at the right time

The most important part of the preparation before looking for financing is knowing why your product or service will work. The big reason many startups fail is that they are at the wrong time in the wrong place. Many novice entrepreneurs refuse to test their ideas and investigate their market, primarily to measure the real "hunger" (demand) that their potential customers might have for their offer. 

If you do not do your homework to find out what the real possibilities of your product are, then do not waste your time on an investor. 

Financial freedom is directly related to our economic well-being, to the balance of our finances and to successful businesses. But how to achieve all that? Is there a magic formula? If you want to get financial freedom, this is the essential guide for you.

What is financial freedom?

The concept of Financial Freedom is when you have the option to stop working and pay the expenses regardless of the lifestyle you take. According to the concept, it is possible not to work, to have money and at the same time to pay the expenses of every day.

That's right, having financial freedom can choose to work or not. Not as it usually happens that the only way left is to have a job that allows a decent life. In any case, you can also work even when there is the option of no longer do so.

To a significant part, financial freedom is obtained when you do things for pleasure and not for obligation. That is, people can work on what they like most and not be in a job that they dislike, but that has a good pay.

Those who seek to reach this point are those who want to enjoy more of their time and recreational activities or to help them to have better training.

In theory, achieving that status is possible, it's not just for rich or lucky people who win lottery raffles.

Several ways can lead a person to achieve financial freedom, for some is to set up their own business, others to save money to retire at age 30, or also, there are those who take good care of their money and live without debts.

But for each person the solution is different.

How to get financial freedom?

So if your motivation to acquire money, success and prosperity come from an unproductive source, such as fear, anger or the need to prove what you are worth, money will never bring you happiness, and you will have a mind conditioned to lack.

There is a process that you will have to follow carefully to get financial freedom. It is essential for you to be successful financially. 

How do you achieve financial independence?

This process consists of 5 steps that are essential:

1. Reduce the size of its expenses:

Reduce unnecessary expenses. Avoid spending on needs that are not important at this time, stop them. To increase your income, you must first make the proper management of what you already have and in the best way. Start a budget proposal and commit yourself to it strictly. Get rid of all unnecessary debts. Sell your car that makes you spend too much and buy another less consumable.

2. Increase your financial IQ:

Inquire about money and how it actually works. This type of education is not taught in schools. Go to the library and bookstores and then find books that are dedicated to strengthening wealth and prosperity principles (such as Think and Grow Rich, The Secrets of a Millionaire Mind, Rich Father, Poor Father, Increase Your Intelligence Financial, etc.). Once you get a better understanding of how money actually works, you will make more educated decisions as do the wealthy. The increase in your financial IQ will get you the most, Money that you will be able to retain and even grow. Learn your money to work hard for you.

3. Increase your income:

Now that you have cut all unnecessary and unimportant expenses and you have the financial education gained, it is time to increase your income. Work a few extra hours or find another part-time job. This process will add another source of income to your household. Save this extra income and put it in a case called new business. This will prepare you for the next step.

4. Use a Leverage Effect:

Use force to put a turbo on your income. The passive income is the income you earn will stop without your direct and constant supervision. Your primary income will be used to pay your living expenses and expenses related to your household. Your part-time extra income can be used to invest in a business that will give you a passive income. Examples of passive income: Stocks, bonds, annuities, network marketing income, real estate investment, etc.

5. Have a Plan of Action:

You must incorporate the above steps into a realistic action plan. And be professional in establishing self-discipline for yourself. This plan must be dated and signed by you and if possible by your spouse. Most people fail because they do not have a real plan and do not have the discipline to follow up on a decision.

The 5 steps listed above are the basics you need to adhere to go to financial freedom. However, these steps are simple and clear, they are recognized by the most fortunate men in the world. So simplify things and things will be simpler for you.

Money is useless if you don't use it wisely. By using it adequately, it can help you to build a small cottage at the bottom of your garden. Money is just a tool to live a happy, fulfilled life. 


So you have to see money as a tool. And that's what it is because, in the end, it only serves to put two people in agreement to carry out an exchange. In fact, what is important is not the money but the perceived value of what you buy it. Why?

"Use the money to achieve things in life. Don't let money use you."

Almost everything they teach us about money focuses on spending it and saving it. Parents, teachers and even personal finance books talk about saving money to keep it, increase it and control it. Saving money involves looking for ways to generate more to create a bigger mattress. We are taught that this is the great goal.

In contrast, spending money is described as budgeting or making cuts. They even tell us that we should create habits so that spending is something painful, like shredding credit cards and carrying only cash. We should not feel good about spending money.

Since I have memory, this is how I defined those two concepts: saving is good, and spending is bad.

But at one point I made a subtle change in my way of thinking. What if we start to treat money as a tool? Tools should be used. They are not meant to be stored on a shelf and filled with dust. Instead of thinking regarding saving and spending money, I started thinking about using it.

Let's say we have decided, for example, that it is time to travel with family. We save money, and the trip fits perfectly with our plans. When it comes time to use that money, there is no need to feel guilty. Instead, we are using a tool that helps us get something we value: time with our family.

This change of mind is subtle, but it does transform our feelings about saving and spending. We no longer need to think in terms like good and bad, positive or negative. We focus on the outcome of our actions.

Money is meant to be used, to be on the move. Circulate from us to other people and then back to us. Even when we save money, we are just storing it for later use. If we use money today, we are not wasting it or wasting it. We are using the best tool available to get results.

My experience suggests that this small change transforms our way of feeling and talking about spending. Of course, the change does not give us permission to throw away the budget or ignore our plans. However, it clearly delineates the negative emotions that have taught us to feel about spending money.

We do not feel bad when we use a hammer to nail a nail. We should not feel bad when we use the money to fulfill our plans and goals. 

The Bank of England (BoE) has, as expected, maintained on Thursday its key rate at 0.25%, a historically low level which it is set since August, but there was a vote for a rise.

The monetary policy committee (CPM) of the British central bank has again said it is willing to tolerate inflation a little higher than the target level of 2% while recalling that there are limits to this tolerance, According to the minutes of its March meeting published Thursday.

But for Kristin Forbes, the data are taken into account in establishing a monetary policy "have evolved to justify an immediate increase in the policy rate." She cited, in particular, the rapid acceleration of inflation on the one hand and the fact that "the weakness of the activity expected since the referendum (which saw the British vote in June for an exit from the 'European Union, Ed) did not materialize.'

For her, "there is less reason to tolerate inflation above its target for an extended period, even if monetary policy must remain agile."

While Ms. Forbes was the only one to vote for a 25-basis-point increase, others of the nine MPC members, whose numbers and names were, as usual, not disclosed. "Noted that relatively little positive news on business prospects or inflation would be needed to make them take into account that a faster reduction in monetary support could be justified," according to these minutes.

The BoE warned Thursday that inflation should accelerate above 2% in the coming months and peak at around 2.75% in early 2018.

No member had called for a rate hike since Ian McCafferty in January 2016, and the latest split on rates within the CPM dates back to last July when Gertjan Vlieghe called for a decline.

At the same time, the CPM unanimously opted to maintain the total amount of its government bond buyback program at GBP 435 billion (approximately CAD $ 715 billion) and bond repurchases Companies to 10 billion pounds.

Fundraising events are a straightforward and fun way to get extra money. They are usually organized to raise funds for a certain cause or organization. There are many excellent ideas for fundraising, as well as more modern and innovative ideas. 

Get ideas for your next fundraiser from this top 10 list.

Sale of cakes

Pastry sales are one of the most popular ways to raise funds. Many people have wonderful memories of the sales of school cakes. Ask several people to donate a variety of baked goods, such as cakes and cookies, which will then be sold.

Raffles

Raffles are an effective way to raise money. You can raffle some small prizes or a huge one. No matter what you choose to raffle, make sure the prize is something people want and so be willing to buy a ticket for the raffle. Generally, the ticket winnings can cover the cost of the prize and leave money left over for the cause.

Competition

Organizing some type of game is a fun way to raise funds. Can be a contest of singing, dancing, beauty or any kind of game you like. Sells tickets to the audience and offers some type of prize to the winner of the competition.

Sale of parking space/garage

Making a garage sale can raise funds and help people decongest their lives and their homes. Encourage those involved in your organization to gather all the things they do not want or need (including clothing, household items, or toys) and organize a garage sale.

Handicraft Fair

If many talented people in your organization enjoy making crafts, host a craft fair to raise funds. If there are not enough people to make different crafts, limit it to something easier like home cards. Everyone can do it, and it will be easy to sell.

Carnival

Carnivals are an excellent source of fun and entertainment. Place a host of different activities that you would find at a fair and charge entrance. It offers baked goods, food and beverages for sale. This is a profitable way to raise money when you expect great assistance.

Car wash

A car wash is another excellent idea to raise funds. It is also very simple and requires no more than what the name implies. Provide plenty of soap and water, and offer quick self-washed people. If you can, provide extra services like vacuuming and waxing at a minimal additional cost.

Calendars

Calendars are relatively easy and inexpensive to do with modern computer technology. Use your organization, company, school or cause as a source of inspiration, and take a different photo for each month of the year. Sell the calendars at a reasonable price. Calendars are useful and are liked by many people.

Collecting Coins

Collecting coins asks people to donate the coins they have there. They can also give any change or lose money they may have. Coin collecting is a good way to raise funds because it does not make people feel that you are asking for much but gives them the freedom to give as much as they want.

Fundraising company

You might consider using the services of a fundraising company. Through a fundraising company, you could offer items such as magazines, cookie dough, candy and many other items available for purchase. Fundraising companies often provide incentives and rewards to top sellers.

Saving money as a young man can give you many benefits. You can use that money to pay for your high school or college, buy something special, you can save it up to being an adult and use it to pay for insurance or make a down payment on a car or your first home. 
However, saving is not easy. You must resist the temptation to spend it, and you must also take responsibility for your actions, which is no easy task.
We know the importance of money savings, and as it's not easy maybe it needs a personal finance help for young adults.  

Saving money differs significantly in your 20s and 30s, so here are 17 financial tips for young adults. These seventeen tips divided into four part. With the four steps, you can save a lot of money and achieve your goal. 

1. Creating a Saving System
2. Reduce your expenses
3. Make extra money
4. Keep track of your money

Building a Saving System

1. Think about what you want to do with the money. 

One reason why many people don't achieve their economic goals or can not save money is that they don't know what they want to do with it. Do you want to save to pay for college, buy your laptop or a car? Deciding what you want to do with your money is the first step to saving money!

If you have difficulty determining what you want to do, check with the people who know you best. They could be your parents and your close friends. Thinking of other individuals who know you very well can help you get rid of your thoughts and reawaken your dreams and goals.

"Financial tips for young adults: Savings money aren't only for old age people." Tweet

2. Choose a savings goal. 

When you know what you want to do with your savings, you can determine how much you will save each week or month, depending on when you receive your allowance, your salary, or any other source of income.

A good rule of thumb is to save $ 1 for every $ 3 you earn. Saving a third of your income might seem like a lot, but it's the only way to save a considerable amount. Saving a third or 30% of all money you receive is one of the best savings strategies out there. Once you start doing it, it will become a habit!

Also, consider how much money you want to have and when. This will help you determine how much you have to save every week or every month. If you want to have $ 100 in a year and receive a weekly allowance of $ 5, saving $ 2 each week will help you reach that goal.
Also read: How to Save Money by Appreciating What You Have

3. Open a bank account. 

Getting a bank account is a major step in becoming more mature and responsible. Also, having a bank account can foster healthy savings habits.

If you are under 18, it is likely that your parents have to appear on the account. A joint account is a form in which many banks offer accounts for minors. Both the names of your parents and yours will be issued in the account for legal purposes and financial obligations. This may seem like a disadvantage, but it can also make it hard to spend your money when you want to do it since your parents can quickly discover what you spend it for.

Look for banks that have the charges and minimum balance requirements. Many banks have an option for "young savers," who charge a minimum monthly maintenance fee.

Keep in mind that in some countries, banks can only offer custody accounts. These accounts are investment instruments that restrict children's access to the account and their funds (usually until they turn 18 or 21, depending on the country). 
If this is the only option you have with your bank, try to find another bank that offers a standard savings account or wait to be a little older.
If for some reason you do not want to open a bank account, put your money in a locked container and give the key to your parents or just ask them to keep the money for you.
Also read: How To Multiply Your Money Every Year

4. Save all extra money. 

If you get extra money for festivities or your birthday, always keep at least half. Some families even give their children college savings bonds or saved money to save them in the long run. Put that money in the bank, not your piggy bank.

5. Keep the change! 

Put everything on the lunch money or whatever you have in a glass jar or a piggy bank and use it from time to time. You'll be surprised how much you can save without even trying hard!

6. Negotiate with your parents. 

Ask your parents if they can give you "equivalent" money to your savings to motivate you to develop good saving habits. Let's say you save $ 40 a month and deposit it into a savings account. You can ask your parents if they could give you money equivalent to your savings and add another $ 40. This will make you a greater incentive to save. Your parents may or may not agree with this idea, but they may be more willing to do so if you are going to save for something they consider important, such as your education.

"Money savings: Budgeting is a great way to increase your money a little further." Tweet

Part 2: Reduce your expenses

1. Take with you as little money as possible. 

Do not carry much cash in your wallet and try not always to take your debit card. This way, you will not have the need to spend money on unnecessary items or take impulsive decisions when you are in a store. 

2. Save before you spend. 

Whenever you receive money (either a gift, a monthly allowance or a salary), immediately take the amount you want to save and save it. This will ensure that you do not spend the money you want to save. The best part is that once you have saved your savings, you can spend the rest! After all, it is important to enjoy life and live a little.

3. Spend your money on important things. 

You can spend your money on one element: your future. You must feel good when you spend money if it is an investment for your future and, especially, your future capacity to generate income. For example, you save to pay for education if you plan to enter a university. If you plan to become a singer, spend your money on singing lessons. Spend your money on proper clothing if you get an office job. It is perfectly acceptable to spend money to stand out and in turn make more money over time.
Also read: How To Invest Money Wisely For Beginners

4. Give a value to the money.

Understand what the value of money is and what it is worth. Remember that most of the time (except gifts), you get money for something you do. When you work, you are exchanging your time for money. You must decide if what you want is just as valuable as the time you needed to earn the money you will buy it with.

For example, if you make $ 10 per hour on a part-time job and you want to purchase a video game that costs $ 50, you will have to work five full hours (and a little more if you have to pay taxes) to generate enough money to buy the game. Do you think it's worth it? Also, can you buy that game and balance the other needs that you need to satiate with that money, like saving 1/3 or paying the gasoline of your car? Every time you spend money, this represents compensation. You must think carefully about what you value and make decisions accordingly.

5. Stay focused on what you want. 

Stay concentrated on the prize and exactly what you plan to do with your money saved. Draw or print an image of what you want and stick it in your piggy bank or your savings jar, or even on your debit card. This will keep you inspired.

Part 3. Make extra money

1. Offer some service to your neighbors or friends in the community. 

It is clear that one of the key aspects of saving is having the money you want to save. One way to save more is to earn more! 
In summer, start a business in which you offer to mow a lawn and in winter one in which you remove the snow. You can even sweep the leaves for your neighbors during the fall. It charges different amounts depending on the amount of work you must do and the size of the garden. You can promote your services by making flyers and sticking them on the posts, and ask your neighbors to place them in their doors. 
Also read: Six-step to starting your own business

Give your friends or neighbors pet care, services. Pets need a lot of attention, and most owners would prefer to have their pets handled by a responsible child or teens, rather than sending them to a kennel. 
Caring for your neighbors' house when they are away on vacation. Caring for your pets, water your plants and pick up your mail. This is an excellent way to be a good neighbor and also earn some extra money.

2. Sells stuff. 

Make a cake sale in your neighborhood or open a lemonade stand during the summer. Bring your used video games to a local game store or take your used clothes in good condition to a thrift store. If you have experience buying and selling things on the Internet, consider selling old stamps, electronic devices or collectibles through websites such as BuySell, OLX or even Facebook. Organizes garage sales a couple of times a year. 
There are many great ways to earn a little extra money by offering a product for sale or by trading your old things for money. Be creative to achieve your savings goals!
Also read: I Can't Quit The Job I Hate Because Of My Financial Situation

3. Get a part-time job. 

Having to work to get money will teach you what your value is. If you are very young and the law still does not allow you to have a job, you could look for the old classic job for children: distribute newspapers in your locality! While it may seem old-fashioned, handing out papers will not only give you some extra money, it also has other advantages: you'll spend a lot of time away from home, and you'll be able to listen to music while you "work."

Part 4. Keep track of your money

1. Keep track of your income. 

Developing a budget and adhering to it is only possible if you know how much money you have. Determine and keep track of the amount of money you receive from different sources (e.g., allowances, gifts, payments, money for caring for a child, etc.).
If you have a bank account, keeping track of the money you have is very easy. In general, bank statements can be accessed online, or you can go to a branch of the bank to consult them. Printing it and saving it in a filing cabinet is a useful practice that allows you to develop an organization system related to the administration of your life. This will be very helpful in the future when you have to calculate your taxes or maintain control of your mortgage.

There are also apps for smartphones that make it easy to deposit money right into your account. Now many banks allow customers to take pictures of the checks with their smartphone and transfer the money to their bank accounts.

2. Keep track of your expenses. 

Keep receipts or keep a box that shows all the purchases you made, including food. Put the date, the item you bought and the amount you spent. This way, you will know what you spent your money on.
There are also applications designed to control personal finances (like Wally) that you can download to your smartphone and use to record your expenses. Wally even allows you to take pictures of receipts that are then calculated in the application. This is an excellent way to learn about your drinking habits.
Also read: 7 Tips on How to Choose the Right Career for You

3. Take note of anything unusual. 

Keep a check on everything that does not fit your everyday habits of saving and consumption. For example, you may have made a substantial purchase, such as a computer or an iPod, perhaps you paid the initial fee for a car or made the first payment for college tuition. Keeping track of the times when you do something unusual (even if you planned or needed it) will help you to know exactly what your financial situation is, which is important, especially at times when your balance is lower Which you normally have.

Keeping your record in order and being well informed will also help you to detect any errors or problems that may exist in your financial situation. You may have noticed that you are always missing $ 5 each week (first talk to your annoying siblings!) Or that you spend too much on fast food every week when you go to the mall. When you know what happens, you can reassess and determine how to re-adopt your savings goals.