Buying a startup could be seen as a risky proposition by some people.

That said how much confidence do you have your startup of choice will get off the ground with flying colors?

By making the right moves and with a little luck, you could position your startup for success in the years to come.

How Good Are Your Money Management Skills?

When giving your startup the best possible chance to succeed, one of the keys of course will be finances.

With that in mind, will you make the right financial decisions to place your startup in good position?

Before starting a company, you want to be as sure as you can that financial issues will not cloud the situation.

For example, what do your finances look like these days?

In the event you are having financial struggles, is starting a company now in your best interests? You may decide it is better to wait further down the road. That is with the hope things will trend better for you financially sooner than later.

Since you want your startup’s performance to be good right out of the gate, what resources can help you measure it?

One option is to turn to a SaaS valuation calculator.

That Software as a Service (SaaS) calculator gives you a better read on the value of your startup. Such information can help you when it comes to making any key decisions tied to your startup.

When looking at your ability to manage money in a startup, you also want to not have a cloud of debt hanging over you.

Such debt can saddle you with trouble now and down the road if not careful.

That debt can be the product of having too many outstanding loans to pay off. It can also be a product of sizable credit card debt you’ve not efficiently addressed.

No matter the reason for the debt you’re carrying, your focus should be on getting it down as soon as possible.

When you look at money management, the hope is you do not see a lot of red flags staring you in the face.

Where Will Your Startup Operate Out of?

One of the big choices facing you when it comes to your startup will be where to operate out of.

Yes, this is a decision that can and likely will have a financial impact on you. As a result, it is important to decide correctly. 

One option would be to rent or buy office space away from your home. This can be even more of a need if you will have employees working under you. The same is true if you will have customers coming to you to buy goods and services.

If you will not have employees and everything in your startup is online, you may opt to work full-time at home. This can be more convenient for you for several reasons. Among them would be no long commutes to and from work and the comfort of being under your own roof. Both can save you money over time.

Think it over and decide what is best for your startup needs.

As you push ahead with a startup, are you confident finances will fall into place?

If you are looking for a top financial advisor, you are most certainly not the only one. As millions of us take stock and re-assess our financial priorities, demand for qualified financial advisor services has skyrocketed. What this means is that finding a financial advisor that is right for you might be harder than ever.

However, there is no need to panic. As this financial advisor guide demonstrates, finding the right advisor for you simply requires a little bit of know-how about the industry. Read on to find out exactly how to find a financial advisor that will help you meet your money goals.

1. Know What You Need

The first and most important step before seeking financial advisor advice is to know exactly what your goals are. There are many different official designations for financial advisors in America. It is important to determine which one is right for you. For example, if you want to grow your investment portfolio, you might want to consult a Certified Fund Specialist (CFS).

Meanwhile, you might be looking for a financial advisor near me who specializes in arranging structured settlements for people in your situation. You can learn more here about how to find a structured settlement advisor who can help you get the outcome you are looking for.

2. Check Those Top Financial Advisor Credentials

When seeking financial advice, always check the credentials. Any worthwhile advisor will have easily furnished credentials and qualifications from an accredited, nationally recognized system. CFP, PFS, CFA, the list goes on.

One reliable way to check this is to head to the National Association of Financial Advisors and search the name of your potential advisor. This should give you a full list of their credentials and experience. If you can’t find these, choose someone else.

3. Understand How They Get Paid

There are two types of financial advisors in this world – those who work for a fee and those who work on commission. Each has its merits, but it is important to know how compensation impacts service. Commission-based advisors are cheaper.

However, they earn commission by pushing financial products, often highly volatile ones, onto customers. This makes some commission-based advisors less trustworthy. Fee-based ones are more expensive but more likely to be actually looking out for your best interests.

4. Ask the Right Questions

When you think you have found the right financial advisor for you, it is time to get down to brass tacks. Do not shy away from asking the questions that you need answers to before you make your choice. Before you hire them, always ask:

  • How do you make money from your services?
  • Are you contractually bound to sell financial products on behalf of another company?
  • How long have you been practicing?
  • Have you ever filed for bankruptcy?
  • Can you provide me with at least two references of current or former customers?
  • Can you walk me through different projections for my financial future?

Make Your Money Work for You

Finding a top financial advisor is essential if you want to make your money more productive. For more tips on making your money work for you and boosting your lifetime wealth, you have come to the right place. Our dedicated Money guides have all of the advice you need to start planning your financial future.

By now, you’ve almost certainly heard of Bitcoin. Around 46 million Americans have now invested in cryptocurrency, making it one of the fastest-growing commodities in recent years. So, how much is Bitcoin worth?

That’s actually quite a complicated question. This article tells you everything you need to know about the value of bitcoin.

The Value of Bitcoin in Dollars

Of course, one way to look at the value of Bitcoin is to examine how much it’s worth in US dollars. As of the 23rd of July 2021, the value of a single Bitcoin was $32,528.13. While this is a lot of money, the value of Bitcoin has actually decreased quite significantly in the last few months.

Months ago, the price of Bitcoin was well over $40,000. One thing that you’ll notice about Bitcoin and other cryptocurrencies is that the value is quite volatile. On any given day, the price can easily increase or decrease by thousands of dollars.

This can be quite scary as a first-time investor, but these kinds of fluctuations tend not to scare Bitcoin veterans.

The value of Bitcoin in dollars is also significant if you want to buy Bitcoin through a site like ByteFederal.

The Value of Bitcoin as an Investment

A lot of the value in Bitcoin comes from its potential as an investment. The price of bitcoin is susceptible to a huge upswing, so it makes sense to see the value in terms of what it could be worth rather than what it’s worth right now.

For this reason, many people see Bitcoin as more valuable when the price is lower than when the price is high. This is because you can buy Bitcoin at a low price and then sell it for a higher price.

This is why many investors will enthusiastically buy Bitcoin as the price goes down. They’re confident that the price will go back up, so cheap Bitcoin has a lot of value to them.

The Value of Bitcoin as Technology

Some believe that Bitcoin will usher in a financial revolution. Some Bitcoin enthusiasts go so far as to believe Bitcoin will revolutionize global finance. Some argue that Bitcoin will eventually replace the global banking system by creating a worldwide, decentralized currency.

People with this view don’t necessarily worry about the price in the short term as they believe Bitcoin will be worth a huge amount of money in the long term. People who believe in Bitcoin to this extent are generally very reluctant to sell their coins.

The Value of Bitcoin Depends on Your Perspective

This article has demonstrated that the value of Bitcoin depends on your perspective. If you’re someone who just wants to spend your coins, the current Bitcoin to the dollar exchange rate is very important.

On the other hand, if you’re a long-term investor, the value is much less clear-cut.

If you want to learn about other Bitcoin-related topics, check out the rest of our blog posts.

Moving for many people is right up there with going to the dentist and having to do their taxes. 

No, moving tends to be a hassle more times than not even if it will lead to better circumstances down the road.

That said what can you do to make your next move a little less taxing?

Use All the Resources Necessary

When you decide a move is needed in your life for one or more reasons, here are a few tips to help you out:

  1. Go over the finances – One of the reasons people tend to move is so that they can save some money. That is on rent or a mortgage, life needs and so on. If you are in a financial pickle now, you may come to the conclusion that moving is in your best interests. You could end up saving money with a move when it comes to what you pay in rent or on a mortgage. Before thinking of moving somewhere, look at the cost of living in the proposed area you’d be relocating to. If you will see sizable savings and are okay with relocating, then a move can make a lot of sense. Also take into account the costs to move and if they will be worth it.
  2. Getting online – Unless you have a set place to move to due to work, taking care of family etc. odds are the web will play a role. So, you can go online and research what is out there. That is when it comes to available homes or apartments/condos, what neighborhoods are like and so on. Once you have found an area to move to and in fact gotten there and settled in, the work is not done. There is always the chance you will have one or more questions when it comes to your new neighbors. If you get their full name, you can always go online and do a little background detective work on them. In doing a free people search online, you may well get some worthwhile info. That is finding out if the person for instance has any criminal record. If they do have such a record, it would depend on the severity of the record to how much concern you should have with it. Also look to social media sites to learn more about neighbors when you have their full names in hand.
  3. Take advantage of surroundings – Finally, odds are you will need to take a deep breath after the move is done with. That said look to acclimate yourself to the new area as you begin to settle in. Not only is meeting some of the neighbors a good thing, you want to learn what your new area has to offer. Getting involved in the local community could prove beneficial to you as time goes by. That is especially true if you have young children with you. By settling in and using the resources around you, it should begin to feel more like home in no time at all.

When moving to a new neighborhood is in your plans, will things go smoothly? 

The New Year is the perfect time for renewed motivation in every aspect of our lives. Whether it’s going running twice a week, stopping smoking or reducing your drinking, January is the month when we are full of good intentions and ready for a new challenge. 

The same applies to our financial lives. Many people start the year with a financial to-do list and goals that they want to achieve. But what are the most popular financial resolutions people are setting this year? Let’s take a look.

  1. Save more

Perhaps unsurprisingly, the most popular financial resolution this year is to save more money. Nearly half (49 percent) of the respondents to a recent Experian study said they wanted to put more money away every month. There are lots of different ways you can do this, from budgeting more effectively to cutting back on unnecessary spending and transferring your existing savings into a high-interest account. 

  1. Improve your credit score

Building a good credit score is one route to affordable and accessible credit. If you’re looking to borrow money, whether it’s a short term loan from a lender like Wonga or a mortgage from the bank, taking steps to improve your credit score will allow you to access the best possible rates. Find out more about the steps you can take to boost your credit score.   

  1. Create a personal budget

31 percent of the respondents to the Experian study said 2020 would be the year when they created a personal budget. Tracking your money and seeing where it goes every month can be a hugely valuable exercise. It can help you reduce your spending in certain areas and assign more of your income to debt repayments and savings.

  1. Pay off a credit card entirely

Are you stuck making the minimum payments on your credit card and unable to clear the balance? This could be the year when all that changes. If you have a credit card debt you’re struggling to clear, a balance transfer credit card, which offers an interest-free period of up to 24 months, could give you the breathing space you need to finally clear that credit card debt. 

  1. Pay your credit card balance in full every month

Have you ever thought about limiting your credit card spending to an amount you can afford to pay off in full every month? Repaying your full balance at the end of the month will help to improve your credit rating and reduce the amount of money you waste in interest payments and fees.

  1. Not open any more credit cards

A positive step that 20 percent of respondents said they wanted to take this year was to not sign up for any more credit cards. The average number of credit card accounts per South African consumer increased from 1.4 to 1.5 over the last year, with an average debt of R16,481. There’s no right number of credit cards, it all depends on how many you can manage responsibly. However, as a very simple rule, the fewer you have, the better!

What are your financial resolutions for the new year? Please share yours with our readers in the comments below.