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Home Buying vs Renting – Which is Better?  

Buying a home is a big financial decision as it requires substantial investment. You need to find the right home to suit your specific needs, look for the best lender, go through the various processes to get the loan, plan your finances, and bear the repayment burden throughout the tenure, etc. However, all these hassles would be worth it when you get the ownership of your home and you can have your own space. 

On the other hand, living on rent may seem to be an easier option as the rent would be much more affordable than repaying the EMIs. However, as your family grows, you may find it challenging to live in a small space. So, if you are wondering if home buying is better than renting or vice-versa, knowing the pros and cons of both can help you make an informed decision. 

Advantages of buying a new home

One of the most obvious and significant advantages of buying a new home is that you can enjoy a sense of stability and security knowing that you own the place and you can live there with your family for as long as you want. Also, buying a home means that you have a significant asset for yourself, and it guarantees your child a secured future. 

Today, getting the funds for buying your dream is easier than ever before. There are many lenders in India that are willing to offer housing loan at competitive interest rates. Also, many lenders offer customised home loan solutions to suit your specific needs. This means you need not deplete your years of hard-earned savings at once. Instead, you can avail of the loan and repay it in smaller instalments over a period of 15-30 years. 

Buying a home in a metropolitan city like Bangalore would give you the chance to get an additional income as you can rent it out. Generally, there is a great demand for homes on rent in a popular location. So, you can easily find a tenant. Also, being a homeowner give you the flexibility to liquidate the asset any time you want and earn a decent profit. 

Another significant benefit of buying a new home is that you need not avoid paying rent every month. With home loans in Bangalore readily available at affordable interest rates, you can pay the EMIs and get the home ownership at the end of loan tenure. 

Drawbacks of buying a home

The property rates in metro cities like Bangalore can be quite high. This means you would need a big investment and getting a home loan. Not to mention, you have to bear the repayment burden for a long period till the end of loan tenure. When you apply for a home loan, you may have to incur other costs like registration fees, stamp duty, building maintenance charges, etc, all these can add to the overall home purchase cost. 

Advantages of renting a home

Even if you are living in a metropolis like Bangalore, you can easily find a good home in your preferred location with affordable rent. Also, if you share the home with others, the rent would be significantly lower than paying the home loan EMI. 

If you are in a profession that requires you to move to a different city often, or if you want to temporarily shift to a new city, renting a home would be a much better option. 

Drawbacks of renting a home

One of the biggest cons of renting a home in a metro city is that you may have to compromise on your living standards because of lack of a big space and freedom. 

Final Word

So, renting and buying a home has both pros and cons. Assess your financial situation and long-term goals before making a decision. 

 

 

 

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FeaturedFinance

Become Familiar with What Equity Release Is?

Equity release is a type of lifelong mortgage that is backed by your house and allows people over 55 to access money that is locked up in their homes. The worth of your property less any secured debts put on it is the definition of equity. This is the amount of money you can take out of your account to help you financially in the future. The money can then be used for whatever you want, with no constraints imposed by the lender. Debt consolidation is the most prevalent and practical rationale for releasing equity. This would entail paying off any mortgages, loans, or credit cards that have become tough to manage. Once these loans are paid off, they reduce your monthly expenses and provide you with more spare income to enjoy. Other reasons for releasing equity include purchasing a new automobile, making home upgrades, going on vacation, or simply improving your lifestyle.

So, what is the process of equity release?

These plans give you a tax-free lump amount or an income that you may utilise to supplement your retirement income. Because the plan has no set period, it will last for the remainder of your or your partner’s life. The lender will place a first legal charge on the property, ensuring that they are paid first when the house is sold. If there is any money left over, it is distributed to your dependents as specified in your Will, if you have one. Equity release is a type of mortgage that does not need monthly payments. As a result, because these mortgage programmes do not need monthly payments, they have no impact on your outgoings at a time when only the bare minimum is necessary. Have you ever considered what are the equity release interest rates ? On January 11, 2022, the average equity release interest rate was around 4%. The amount of interest you pay on a lifetime mortgage is determined by the length of the loan and the kind of plan you pick.

A lifelong mortgage and a home reversion scheme are two types of equity release programmes available:

The most popular choice has proven to be lifetime mortgages. In actuality, lifetime mortgages are a type of loan for retirees that accrues interest and is added to the sum each year. The amount to be reimbursed at the end of the day is determined by the length of the scheme and the property’s final sale value. The homeowner sells a piece of their home in the Home Reversion plan. The home reversion firm will thereafter retain a portion or all of the property’s ownership. When the house is ultimately sold, the reversion firm keeps this portion. As a result, the children will receive a guaranteed inheritance.

It can assist you in understanding both the advantages and disadvantages of Equity Release. Consider the following: –

Pros

  • You have the option to live in your home for the rest of your life.
  • There are no payments to be paid every month.
  • Only when the last living applicant dies, the property is sold, or the applicant enters long-term care is the debt refunded.
  • You can never owe more than the property is worth since there are no negative equity guarantees.

Cons

  • It’s possible that releasing equity will affect your eligibility for means-tested programmes.
  • As debt accrues, the decline in equity may make it difficult to sell or downsize your house.
  • The amount that may be left to your beneficiaries decreases as interest accrues.
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FeaturedFinance

Investing is silver bullion coins or bars

For year precious metals have been held as alternatives to stocks, bonds and other traditional investments. When the economy is not doing well, central banks resort to printing more money this devalues fiat currencies and raise inflation which is why people hedge their bets with precious metals like silver and gold. 

When a precious metals investor decides to “get physical,” he or she often begins with a silver purchase, even before getting to gold. The low price of entry (relative to other precious metals) makes a physical investment in silver possible even with a very small amount of capital. And with a first investment in physical silver, a popular choice is, of course, the silver bullion coin. 

When an investor decides to buy physical bullion, he might consider silver before gold. This is because of the low price of silver which makes it a low entry level investment. You can buy silver for a very small amount of money. Silver is often popular as a first investment in precious metal. 

A lot of investor love silver because it retains its value in difficult time it also serves to protect their wealth from inflation. This way investors can be sure that they have a currency that cannot be inflated or deflated by continuous money printing or falling interest rates. There are a number of ways to invest in silver:

Bullion Coins or bullion bars

Investors buy physical silver like coins or silver bullion coins because of the emotional satisfaction they get from having something that is more tangible because you have physical possession of the metal. When the price of silver rises you can sell silver bullion and make a good profit. When buying silver you have to be aware of the spot-price so that you know that you are buying it at a fair price the same is true for when you sell silver you need to know what the current spot price of silver at that point. You might not get the exact price for your used silver bullion especially when you are selling to a dealer because other costs are factored into what you’ll get offered.  

You might think that the only difference between silver bullion coins and silver bullion bars is their appearance and weight. That is not the only difference. These two forms of silver bullion products differ also in their purpose. Silver bullion coins have a legal tender value making them currency in their respective country of origin. Bars on the other hand aren’t classified as such and are therefore only valued for the silver content. It’s easier to sell silver coins during crisis than it is to sell silver bullion bars. 

Some investors may have bought numismatic silver coins. These are different from silver bullion coins. They have no legal tender hence no guarantee that they may be used as currency one day. Numismatic coins are valued for their rarity and their uniqueness. Of course the amount of silver is important but unlike bullion coins, numismatic silver coins aren’t made with the finest silver. However, they are known to trade over the silver spot price. Whatever type of silver product you may have, make sure you trust the dealer to offer a fair price.

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Featured

The Importance of Book Keeping In Any Business 

Financial mismanagement is one of the leading reasons for a majority of businesses being shut down. No matter how well you try to organize it since you have a paucity of expertise in the field of finance and economics, you will prove to be the bull in the China shop, causing more damage than that which can be sustained. 

The best way of bookkeeping is to hire a CPA. The best team of expert CPAs is with the pacific accounting group. They are dedicated to serving the financial interests of their clients. They give top priority to the success of their clients, which is why they are always available to the help and assistance of their clients. 

They never discriminate among the clients based on the size of the business and their clients are much more than just a number to them. Their team will perform many tasks for you like tax filing, drawing up the financial reports, tax planning, assurance services, representation and defence, financial planning, assurance services, overseeing financial functions, etc. 

Reasons to pay attention to bookkeeping

One of the main functions of bookkeeping is to help in preparing a budget for the business. besides that, it is also functional in preparing for the tax returns and keeping the business organized. It is unavoidable for the success of any business and no business can neglect it to stay afloat. If you want to keep a check on your finances, then you too must practice it. 

Here is a list of reasons why bookkeeping is essential for your business:

1. Helps in budgeting accurately – 

Maintaining a budget becomes very easy with bookkeeping. When the income and the expenses are organized properly, then the process of reviewing the financial resources and cost becomes very easy. 

2. Stay prepared for the taxes – 

Even though it is very annoying, all the businesses are required to file the taxes at the end of each year. If you have the bookkeeping properly checked, then you will have all the relevant information in the tax season. This will keep all the tension at a bay. 

You will be able to predict the outcome when the HMRC will demand a financial statement of the business only if you have bookkeeping in check. 

3. Maintain organized records – 

If you wait till the last minute for the crucial information to be gathered and the important tasks to be executed, then you will end goofing up with a lot of crucial pieces of information. More errors are likely to happen when you are in a rush to meet the deadlines. 

Bookkeeping will save you from the trouble of running amok. 

4. Easy to set targets and meet them – 

Keeping the books maintained will give you a clear perception of the trajectory of the business and where is it expected to be going. Poor financial records impede the growth of the businesses because they blur the vision of the business owners. 

Conclusion

Bookkeeping is one of those traits, which will help your business in the long run. It is always suggested for the businesses to maintain proper books regularly. 

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Money-back Review: Scammed by a Forex Broker? Learn How to Get Help

You must know about the most reliable solutions to increase the chances of recovering your lost funds. Getting scammed online is nothing new but speaking on an individual level, it can be quite detrimental to your mental and emotional health. It’s worth mentioning that the online trading industry has been growing exponentially. The rapid expansion has invited thousands of scammers and fraudsters to target innocent traders. If you’ve been scammed on the internet in the name of online trading, read this Money-back review to the end. It’s easy finding your lost money when the right company is right by your side.

You must never assume that your lost funds will remain lost. This is because Money-back ensures the recovery of your funds through maximum effort and resourceful technologies. Here’s what to know.

Honest and Upfront Attitude

There’s nothing wrong with selecting an online company to help you recover your funds. However, do you know that most companies on the internet claiming to be true and legitimate are often scammers trying to lure you for a second time? Well, this has happened in the past and resulted in huge losses. When people lost their money to strangers on the internet due to scams, they tend to seek the support of just about any company that promises them a return. On the other hand, this isn’t something that Money-back does. Whether you’ve been scammed by a forex broker or some other fraud, Money-back will be upfront with you.

There’s always a risk that your lost funds might not recover even after the maximum effort by the recovery services provider. While Money-back tries its best, it can still lead to a dead-end. It will depend on the scammers’ skills and tactics that they used to steal your money from you. While the company will do its best, it will also let you know that your funds might not be recoverable at a certain stage.

Safe and Secure Payment Channels

This is something that makes this company an extremely reliable business. It’s difficult trusting another company with your information after getting scammed, let alone offer online payment once again. However, you should know that Money-back is entirely safe and secure. The company doesn’t utilize any illicit payment processing procedures or methods. Similarly, the company is compliant with all types of rules, regulations, and policies set forth by the regulatory authorities for online financial services providers. This is evidence of the legitimacy and authenticity of Money-back on the internet. When you don’t engage with a legitimate online company, it could result in legal penalties.

Money-back shows verified regulations and registration right on the official website. You can also contact dependable customer support based on your inquiries to learn more about the company’s services. You will find all the useful information you need to check for authenticity and lawful activities of Money-back right on its official website.

Pocket-Friendly Pricing Strategies

I know that trusting someone with your money through the internet once again after getting scammed by a forex broker can be tough. However, you won’t experience any issues similar to the forex withdrawal problems that you encountered on the scam online trading websites. Money-back keeps all things transparent involving its customers and legal authorities. While customer information is kept confidential for legal purposes, all other information is shared to give clients like you peace of mind.

The best part about dealing with this company to recover your lost funds is that you won’t have to pay high fees. Yes, it’s entirely true! You won’t have to give away a huge portion of your hard-earned and recovered savings to the company for finding it. Money-back knows how precious your money is to you.

Conclusion

Is there anything you can do to help the company find your money faster? Well, you should discuss your options with the professionals at Money-back. Call customer support and choose money recovery services if you’ve been scammed online.

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How to Send Legitimate Text Messaging Using 10DLC Approval

The 10DLC or 10-Digit Long Code is a standard phone number with ten digits – hence the name. Mobile carriers created it as an Application-to-Person (A2P) messaging channel to facilitate sending text messages at higher volumes.

With the growing use cases for mass messaging and marketing, 10DLC phone numbers became the standard for A2P messaging across businesses in the US. Unlike other complex and costly channels, 10DLC is comparably cost-effective and efficient.

Prior to creating the 10DLC, companies had to use short codes, toll-free long codes, and local long codes. However, these came with limitations, making them impractical for many organizations.

For instance, short codes were expensive to use. Meanwhile, toll-free long codes were limited in their ability to dispatch multiple messages and could send only up to a few thousand SMS daily. Similar to toll-free long codes, local long codes’ capacity to send messages was also capped at a certain number – only one message per second. Also, local long codes were explicitly intended for Person-to-Person (P2P) messaging and had compliance problems when adopted into A2P text messaging.

10DLC addresses the issues associated with P2P and other A2P messaging options. It also comes with additional benefits like reduced phishing and spam messages, improved deliverability and compliance, and usability in multiple communication channels.

If businesses want to harness 10DLC, they can rely on approved providers like TeleMessage. This company is a verified Campaign Service Provider (CSP) for A2P messaging. It can help brands follow the necessary procedures like registering their business and campaigns with the third-party organization, The Campaign Registry (TCR). Completing the registration process means that the sent messages are verified, and their sender is known.

TeleMessage also provides other solutions like mobile archiving. Its products capture and retain mobile content, including text messages, WhatsApp, WeChat, and even call archiving to ensure compliance with data protection regulations.

To learn more, see this infographic from TeleMessage that talks about sending legitimate SMS messages via 10DLC approval.

10DLC
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Featured

Money Tracking The Most Effective Budgeting Strategy

For people who’ve frustrated with trying different software for creating monthly expense report or budget report but nevertheless unsatisfied, try online budgeting tool because these tools provides wonderful benefits and and pretty innovative.

Because of advancement in technology like ATM’s, automatic withdrawals and charge cards etc. Noisy . days in households every transaction ended with cash when the money finished you cannot waste your hard earned money. Online budgeting tool also uses same process. During this budgeting tool an inexpensive is made the decision as well as on that basis money is managed online.

The traditional budgeting method was slow since it analyzes your spending a year money, but today’s method examined prior to the purchase. The sooner method notifys you that you will get wrong along with the modern method keeps you within the direction to be able to manage your extra spending.

Managing Your Finances Can Be Hard: Here's How To Do It Right - The World  Financial Review

In online budgeting tool you’ll be able to handle multiple accounts in a single and furthermore it enables you to definitely certainly set an inexpensive. The lovliest part relating to this equipment can it be provides updated data entire month. These budgeting tools perform on multiple platforms because these days open-source is disbursing faster.

You may also access your hard earned money everywhere anytime without internet too. Therefore if you’re traveling or busy inside a couple of work your financial budget plan will not effect using this.

Crucial part in finance budgeting is awareness, you have to aware constantly with regards to your spending. With your budgeting tools you needn’t to possess collect all of the receipts information. The net budgeting tool itself produce a graphical report inside the month finish. Online budgeting program may also be helpful you remain mindful of you about overspending to be able to manage the borrowed funds budget. This equipment provides weekly alerts with regards to your spending in addition to help help help remind you with regards to your spending.

Why Everyone Can Benefit from Having a Budget - The World Financial Review

By setting your financial budget options are within your limit, then when you’ve planned your financial budget according to your demands you are able to handle your financial budget within the decent manner. This expense tracking program will certainly minimize your extra spending.

The entire point is basically that you track that you simply waste your hard earned money laptop or computer must. So the primary point is the fact don’t pressurize to invest less if you do not want but invest wisely.

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