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Freight factoring – How it works, its benefits, and more
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Freight factoring – How it works, its benefits, and more

Freight factoring, also known as transportation or trucking factoring, allows trucking companies to get immediate cash flow and avoid delayed payments on outstanding invoices. The standard waiting period to get full payouts in a trucking business is between 40 and 50 days, which can be easily avoided by freight factoring. Read on to learn more about how it works, its benefits, some dos and don’ts, and more. How freight factoring works In the transportation industry, getting paid immediately is not a standard. Trucking companies have to wait months to clear invoices, making it challenging for their businesses to survive. Freight factoring allows trucking companies to submit invoices for same-day processing and get immediate funds. This helps both the freight factoring company and the trucking company. The factoring company receives a service fee for “fronting” the money to the trucking company, whereas the latter gets access to the funds instead of a long waiting period. Benefits of freight factoring Here is how freight factoring benefits trucking companies: 1. Offers cash flow The major benefit of factoring is cash flow. Trucking companies that need to wait an extended period to get payments for the load they ran don’t have to do so, as factoring allows easy and quick access to cash. The transportation industry runs on the challenge of a lack of cash flow, and most companies are at the mercy of slow-paying clients. But with freight factoring, there is an influx of working capital that allows the companies to run their businesses more efficiently. 2. Improves customer relationship Collecting client payments is time-consuming and puts the owner-operator in a spot when the client refuses to pay on time. This may create a sense of awkwardness between the trucking company and the client. By partnering with a factoring company, the owner-operator does not have to worry about invoice payments.
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7 mistakes to avoid while using debit cards
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7 mistakes to avoid while using debit cards

Debit cards are quick and easy to use; just a swipe of the card and a transaction is done within seconds. There is no need to write checks and head to the bank to deposit them. But as convenient as a debit card might be, it can cost more than a pretty penny if not used correctly. To ensure one doesn’t lose their money, here are some common mistakes to avoid while using debit cards. Forgetting to keep an eye on the balance Most debit cards are directly connected to one’s bank account. Unlike credit cards that do not deduct any money from one’s account for every transaction, debit cards do. This is quite different from credit cards, where the monthly bills are paid all at once, and there are limits to the transactions that can be done. Since there are no bills to be paid for debit cards, the limits on the transaction are as much money one has in their account. Many people end up forgetting to check their account balance after every transaction. To avoid this mistake, always keep a close eye on the account balance while swiping the debit card during every transaction. Writing the PIN on the debit card or carrying it in the wallet This may seem quite an obvious mistake, but it is surprising how common it is. Sometimes, people end up writing the PIN on the card itself. Or they note it down on paper and carry it in their wallet. The idea behind doing this is to avoid forgetting the PIN. While one may always have the PIN in hand whenever they need, it will also be accessible to others. In case the card gets stolen or is found by someone else, they will easily have access to the bank account through the PIN.
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Top 7 buy now, pay later apps for phones
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Top 7 buy now, pay later apps for phones

With cashless payments becoming popular alternatives to paper money, new online banking features have emerged to make such transactions even more convenient. The “buy now, pay later” option is one such feature, wherein one can buy a product at present and choose to pay for it flexibly. Also, the payment option is interest-free, and the loan is usually approved quickly. Here are some good buy now, pay later apps for phones one can consider. Klarna Klarna Bank AB, or simply Klarna, is headquartered in Sweden and has many different payment plans for users, including monthly financing options and a pay-in-four plan. Their goal is to make online payments safe and easy for all. The loan approval process is quite simple – the company undertakes a soft credit check, investigating the borrower’s repayment history. Depending on whether the customer chooses the “pay-in-four” or a monthly financing option, the amount is either split into four parts or monthly installments. There is also a “pay-in-30” option, wherein one has to repay the full amount within 30 days. The pay-in-four and pay-in-30 plans do not charge any interest, but if a customer is more than ten days late in paying the installment, the late fee is $7. Zip This app has a “pay-in-four” payment strategy, wherein the total amount is split into four equal installments. The customer pays the first installment while checking out, and the rest of them are paid every two weeks. The company performs a soft credit check on customers; it also uses machine learning to pass loans, though it doesn’t divulge the exact process. There is an installment fee of $1 for those enrolling in the pay-in-four plan, so the total installment fee comes to around $4 per order. But this may even go up to over $7 sometimes. PayPal One of the most common online payment gateways, PayPal has pay-in-four and monthly payment options.
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10 common mistakes to avoid while writing a will
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10 common mistakes to avoid while writing a will

A will is a legal document that ensures the probate assets of an individual are distributed as per their wishes after their death. Having a will in place, irrespective of the asset value, is important because it resolves any administrative issues and minimizes the risk of conflicts among the recipients of the assets. There are certain guidelines for writing a will and a slip-up here can lead to expensive legal complications, disputes, and delays.  Common mistakes to avoid while writing a will Not signing the will This may seem like a minor detail, but not signing a will correctly can invalidate its legality. One must have at least two witnesses at the time of signing a will, and their signatures must also be included in the document. A will duly signed by witnesses often bears more credibility in the court and usually is never violated. Only mentioning property A will is not just about dispensing property. There are several other assets that one needs to factor in while writing a will. For example, life insurance, pension, bank account, shares, mutual funds, or even artifacts or timeless art pieces. All of these come under estate planning, and mentioning the beneficiaries, as well as even alternate beneficiaries and alternative executors, is crucial. This is especially important in case either of them meets with an untimely death before the individual. It’s best to consult a professional estate planner or attorney in this regard so as not to overlook any critical details. Forgetting to include residuary provision A will should include all of one’s assets, but in many cases, people tend to forget smaller investments or personal belongings. These overlooked assets are known as “residuary.” It’s best to include a residuary clause in the will just to be safe and ensure anything left out also finds a home.
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11 ways to get auto loan approval with a low credit score
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11 ways to get auto loan approval with a low credit score

Financial advisors always emphasize good credit scores because it is the only way to secure a loan, including an auto loan. But sometimes, people with already poor credit scores may need to take out auto loans urgently and might find it difficult to improve their scores immediately. But the good news is that with certain strategies in place, it is possible to have one’s auto loan approved even with a low credit score. Here are a few ways to get auto loan approval with a low credit score: 1. Get a person to co-sign the loan When a person co-signs an auto loan, they promise to repay it if the borrower cannot. If the co-signer has a good credit score, there are good chances of lenders approving the auto loan request. 2. Provide proof of being capable of repaying the auto loan If a person has had a recent salary hike or promotion, they may be in a better position to repay their loans than before. Similarly, any additional sources of income that have emerged recently can also help the borrower repay an auto loan more comfortably. So, in such situations, borrowers should inform lenders about any increase in their income levels or supplementary sources of income so that lenders become more confident about the borrower’s ability to repay the auto loan. 3. Try to improve one’s credit score within a few months If one can afford to wait a few months before applying for an auto loan, they should actively take steps to improve their credit scores. For example, one can avoid delaying credit card payments or improving credit utilization scores. Although one’s credit score may not be boosted considerably, even a small jump can increase one’s chances of getting an auto loan approved. 4. Look for a co-borrower A co-borrower with a good credit score can also increase the probability of one’s auto loan getting passed.
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8 mistakes to avoid when applying for a home loan
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8 mistakes to avoid when applying for a home loan

There’s something oddly satisfying about owning a place one can return to at the end of the day, and this feeling drives people to set out to buy a home. But buying a home is a major financial decision, so one needs to plan it well in advance. Home loans are effective ways to arrange money for this purpose without facing a financial crunch. However, when taking home loans, one should avoid some common mistakes. Maintaining a poor credit score Credit scores are basically a reflection of how punctually a person has been repaying their debts, primarily credit card bills. If one repeatedly delays credit card payments, their credit score will likely fall with time. Lenders feel borrowers with low credit scores will not repay the amount, making them more likely to reject such loan requests. So, maintaining one’s credit score is essential to get a home loan approved. One should track their billing cycles closely and consistently pay off debts on time. It is also important to avoid having a high credit utilization rate, which indicates how much of one’s available credit one ends up using every month. High credit utilization can also adversely affect an individual’s chances of securing a home loan. Changing jobs too frequently If a borrower switches jobs very frequently, lenders may be reluctant to approve their home loan because they see such behavior as a sign of financial instability. That’s why many lending agencies require borrowers to have been employed at an organization for at least 12 to 18 months at the time of home loan application. So, before taking a home loan, one should be steady at a job for at least a year and avoid changing jobs too often. Not reading documents before signing Signing documents directly without going through them first is a big mistake.
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8 costly mistakes people make with buy now, pay later plans
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8 costly mistakes people make with buy now, pay later plans

Buy now, pay later, or BNPL financing is a relatively recent but increasingly popular payment method. It allows people to purchase anything they want while a BNPL-partnered company pays for it, and the consumer can later pay back the amount in installments. BNPL differs from credit card payments because it does not have interest or credit checks, and the repayment can be made within a few weeks. Mistakes people make with BNPL While BNPL sounds like an excellent payment option on paper, it has many pitfalls, especially if one makes the following mistakes while dealing with it: 1. Ignoring the fine print Signing up for a BNPL plan without thoroughly reading the fine print is a grave mistake. Even though there may be no interest, missing BNPL payments can incur late fees and hurt one’s credit score. So, one should read the BNPL plan carefully and understand all the implications, including what happens if one faces problems during purchases, how often the payments are due, how the plan operates, and any penalties. 2. Not learning about the potential pitfalls Many issues may crop up while making purchases, and one should know the next action plan while signing up for BNPL. For example, it’s important to know how one’s BNPL company handles purchase protection in case one makes an online payment using their service and the parcel never shows up. One can dispute the charges with a credit card, but with BNPL, it might be different. So it’s important to understand how a company retrieves money in cases of such issues. 3. Using BNPL for making reckless purchases Anything that involves borrowing money from a third party comes with a certain level of risk. BNPL is not a substitute for overextending one’s finances and buying things impulsively without calculating how one will comfortably pay back the price promptly.
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6 tips to determine the best mutual funds to invest in
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6 tips to determine the best mutual funds to invest in

A mutual fund is a type of investment in which the funds of several investors are pooled together to make an investment product. An investment in a group of assets is made to reach the investment goal of the funds. There are many different types of mutual funds in the market, and it is vital to know how to identify the best mutual fund to invest in to make profits. Here are some tips: 1. Identify profile type Before one invests, one of the first things to know is the goals of the investment. Identify them. Ask questions like, “Is this for long-term investment?” or “Is this a fund to pay for some immediate goals or a retirement plan? These questions will help one identify and understand personal investment goals. Apart from the objective, another thing to consider is one’s personal risk tolerance and appetite. What does this mean? Individuals should factor in whether they are willing to invest in a volatile market or whether they need some kind of safety net. If they are conservative investors, they could go for medium-risk and medium-return-on-investments. So, determining one’s risk profile carefully is vital, as that will help determine the kind of returns one can expect in the coming months and years. 2. Check type of funds Many different types of mutual funds are available, and knowing the difference between them will help individuals identify which one they want to associate themselves with. Here are some of the popular types to explore: Large-cap funds These funds are known to invest in large, widely held companies with over 10 billion dollars or more in market capitalization. Small-cap funds The market capitalization of this type of investment is between $300 million and $2 billion. Growth funds These funds primarily invest in rapidly growing companies, and their primary objective remains capital appreciation.
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Key information about form W-2 one should know
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Key information about form W-2 one should know

To understand and correctly file taxes, individuals must understand the importance and requirements of the W-2 form. It is a critical document that shows important information about the income one has earned, the amount of taxes withheld, and benefits. This form is more of a legal requirement than simply a record. For employers and employees to take care of their taxes and wages correctly, it is critical to understand the form better. Overview W-2 or the Wage and Tax Statement form must be sent to each employee by the employer. The IRS should also be sent a copy of this form at the end of each year. The form has records and details of an employee’s annual wages and the taxes withheld from their paychecks. W-2 employees receive their paychecks with the taxes deducted by their employer. The employer needs to submit that information to the government employee. The W-2 form reflects a person’s income and taxes paid during that annual year. The form has three sections, each with its details and requirements. On the left side, the form includes the taxpayer’s personal information. The right side of the form contains information about the individual’s earnings and tax information. On the bottom of the form is the local and state tax information. Eligibility Individuals who have worked for a company or an employer in the last year and earned $600 are eligible for a W-2 form. Employers are required by law to send the form to all their employees. Individuals who work as independent freelancers, contractors, or other self-employed workers are bound to receive a Form 1099 in its stead. Application process Employers can make the W-2 form available online or send a copy to their employees offline. Employees can also ask the IRS if they need a second copy of a previous form or details of previously filed tax.
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7 common annuity mistakes and how to avoid them
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7 common annuity mistakes and how to avoid them

Annuities offer one of the more stable and reliable guaranteed income options in a person’s post-retirement phase. Annuities come with several benefits, such as monetary assurance for self and family, an income source immune to recession, and others. The positivity around annuity can be negatively affected when people who wish to apply for it make certain mistakes during or after the application process. So, identifying and avoiding these mistakes is imperative. Choosing the wrong insurance/annuity provider An annuity is of 5 types. For example, fixed dollar amounts, variable, guaranteed minimum withdrawal benefits, and inflation-adjusted are the types of annuities. Each type of annuity comes with its own set of pros and cons. Financial advisors recommend that people go for certain annuities based on their personal requirements and financial position. Choosing the “wrong” kind of annuity can prevent users from getting the full scope of benefits of the scheme. Apart from the type of annuity, the insurance company in question must be checked before people sign up for annuity plans with them. One must research the credibility and popularity of annuity providers. After the research phase, people need to select the insurance companies that are among the most reputed ones. Not understanding how an annuity works Knowing the metaphorical ABCs of any investment option is critical for people looking to sign up for it. So, suppose someone wishes to purchase a life insurance policy. In that case, they need to check aspects of the service, such as the maturity period, coverage costs, premiums payable across the insurance coverage phase, and so on. For annuities, people need to analyze the fees and costs involved in the process. Along with those, potential subscribers of these plans must also check how the payout will be calculated and ultimately delivered. Not naming a beneficiary As alluded to earlier, the benefits of annuities do not end with the person who purchases the plan.
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10 best laundry detergents and their features
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10 best laundry detergents and their features

Detergents are available in multiple forms, such as pods, powder, and liquids, and choosing the best one can be tough. In addition to daily wear clothing and regular laundry items, you could have some garments that require specialized products for effective cleaning. Some members of your family might have sensitive skin and need mild chemical-free products. So here is a list of the best detergents that can make your laundry task hassle-free.  Gain Laundry Detergent Among the list of laundry detergents that are known for their fragrance is Gain Laundry Detergent. The liquid not only cleans your clothes but also gives them a delicate fragrance that can last for up to 6 weeks or until the garment is worn. This detergent can be used in all washing machines, including highly efficient ones. The detergent also has Oxi Boost, a combination of surfactants, enzymes, and pre-treaters that aid in eliminating stains and odors that could be two weeks old. Moreover, this product is available in multiple sizes to cater to the needs of every household. Persil ProClean Laundry Detergent Among the laundry detergents that excel in stain removal is Persil Proclean. This concentrated liquid offers deep cleaning and has stain-fighting enzymes. It has an active scent boost that eliminates the toughest of stains and odors so that your clothes have a fresh feel. This detergent has exceptional performance in all washing machines and provides effective cleaning at all water temperatures. The clean rinse formula and low suds ensure that white clothes stay white and bright clothes stay bright. Kirkland Laundry Detergent If you are looking for laundry detergents that are easy on your pocket, then choosing this Kirkland laundry detergent will be the best. The detergent offers a great combination of performance and cost-effectiveness. It has an ultra-clean formulation which enables it to travel deep in the fabrics to eliminate odor and stains.
Things to know about chronic kidney disease
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Things to know about chronic kidney disease

Chronic kidney disease   occurs when there is a gradual failure of kidney function due to illnesses, genetics, etc. The kidneys’ main role is to filter waste matter and flush out excess bodily fluids, but advanced kidney failure causes fluids, electrolytes, and waste to build up in the body. Various factors must be understood to manage the condition, including the causes, symptoms, prevention tips, and more. Read on to learn more about chronic kidney disease. Causes of chronic kidney disease The main causes of chronic kidney disease are as follows: Diabetes When the body’s sugar levels are too high and become unmanageable, bodily organs stop functioning as normal. The first to be affected are the kidneys, leading to diabetes, which, in turn, affects the nerves, eyes, and heart.   High blood pressure This is when blood pressure against the walls of the blood vessels increases, and can lead to chronic kidney disease, heart attacks, and strokes. Hence, chronic kidney disease can also be caused by uncontrolled high blood pressure.   Genetics Chronic kidney disease can also be passed down through the genes. Therefore if someone in your close family has the condition, it is likely to be passed down to you.   Autoimmune disease Lupus nephritis is an autoimmune disease that causes swelling of the small blood vessels, which are responsible for flushing waste out of the kidneys.  Birth disorder Sometimes, certain malfunctions of the kidneys develop in the mother’s womb and can cause infections and kidney damage later on in the person’s life.   Other causes Kidney stones or tumors can cause kidney damage or failure if not treated in time.  Glomerulonephritis It is a group of diseases that can cause inflammation in the filtering segments of the kidneys. This disorder is one of the most common types of kidney disease. Vesicoureteral reflux This is a condition that causes urine to back up into the kidneys.
Have these 14 foods to manage macular degeneration
Health

Have these 14 foods to manage macular degeneration

Macular degeneration is an eye condition that causes changes in the macula, leading to vision loss. Though there is no cure for this condition, following an eye-healthy meal plan is important in managing complications like vision loss. A nutritional regime for age-related macular degeneration should include healthy amounts of vitamins, minerals, and other nutrients. Some foods that contain eye-healthy vitamins that help manage symptoms of macular degeneration are listed below. Macular degeneration Age-related macular degeneration is a primary cause of vision loss among people aged 55 years and above. The condition refers to the deterioration of the central part of the retina called the macula. Symptoms include blurry vision, blind spots, difficulty recognizing faces, visual distortions, and more. Studies indicate that nearly 20 million people in the country live with some form of age-related macular degeneration. This condition occurs in two forms- the dry and the wet form. The dry type occurs when the macula gets thinner with age. This condition gradually progresses over the years. The dry form can advance into the wet type when abnormal blood vessels develop in the back of the eye and harm the macula. The wet type of AMD usually accelerates vision loss. Leafy green veggies Dark-green, leafy vegetables are rich in beta-carotene and carotenoids such as lutein and zeaxanthin. Including leafy vegetables such as spinach, kale, and collard greens in your meal plan can increase the pigment density in the macula and potentially slow down age-related macular degeneration (AMD). Also, keep up a healthy intake of cruciferous vegetables such as cauliflower, broccoli, and cabbage, all excellent sources of essential vitamins. Colorful vegetables Colorful vegetables such as carrots, red and yellow pepper, pumpkin, and tomato contain carotenoids that contain essential vitamins for the eyes, such as lutein and zeaxanthin. To manage macular degeneration, include all these colorful and eye-healthy veggies on your plate.