Home Blog Page 30

Vanquis: 3 Common Myths About Credit Cards, Busted

By
Shelby Grey
-

A good credit score can help consumers with many financial roles, and in particular, offers higher rates of approval and better interest rates on loans and credit cards. However, many credit builders wind up adopting certain credit practices based on popular myths about credit card usage, rather than reality. Here are 3 well-known credit card myths that should be debunked before deciding to apply for a credit card. 
Myth 1: Shutting Down a Credit Card is a Terrible Move

Most people are hesitant to close their credit card because they are afraid of their utilisation rate and credit line plummeting. These two factors undoubtedly have a significant impact on one’s credit score, but there may be times when a cardholder needs to cancel their credit card. The truth of the matter: It is not always a bad idea to permanently close a credit card — in fact, some situations may necessitate it. A credit card service provider that charges an annual rate, and is no longer being used, may be too expensive to maintain. However, the impact is variable, and there is a way to mitigate it. It is important to maintain an older line of credit, as well as a mix of credit types and a good utilisation rate. If the credit card under consideration isn’t someone’s only card, oldest card, or holding revolving debt (which would need to be transferred to a different card), it won’t have as much of an impact if it’s closed. Myth 2: Using the Minimum Monthly Balance is Fine in a Case of Financial Pressure

There is a widespread belief that in times of financial hardship, paying the due minimum monthly balance is acceptable. As appealing as it may sound, doing so will only result in large bills, which is one of the primary causes of high interest rates. The truth of the matter: When debts are owed to a credit service provider, regardless of financial situation, it’s best to deposit the maximum amount possible for each statement. According to experts, credit users who pay their bills on time save between 10% and 30% on interest rates each year. When there is an unsettled debt, many financial factors tend to resurface in the human mind, and this condition rarely allows for breathing space for that individual. So, regardless of the financial burden, paying off credit card bills as soon as possible is the best course of action to avoid future debt. Myth 3: Applying for a credit card has a negative impact on credit score

While applying for a credit card does have an immediate, minor negative impact on credit score, over time it’s possible that a new card will actually improve the cardholder’s credit. The truth of the matter: A credit card’s recommended utilisation ratio is at least 30% of total credit. If someone has two credit cards with a combined limit of £1,000, the minimum amount of cash that should be in both accounts is £300. For someone who already has credit card debts higher than 40% of their credit limit, adding to the total credit limit is one way to improve their credit utilisation rate.
Conclusion

Credit cards are an important part of financial life, but it is not without myths. Knowing about these myths gives people an advantage over others when applying for new credit cards and using them to their maximum effect.

Citibank UK: 5 Reasons to Begin Your Wealth Journey with Citigold Wealth Management

By
Shelby Grey
-

Creating a diversified portfolio that includes strategic investments in globally emerging or developed markets, ETFs, equities, etc., can supplement your financial journey. After all, wealth means more than just simple savings waiting to be matured.  With Citigold Wealth Management, the services go beyond providing only traditional banking. They offer a suite of thoughtfully curated wealth management, premier banking services and a dedicated team of wealth advisors to complement your wealth-building journey. With the holistic and tailored approach, you can manage your finances and securities flexibly and smartly without any hassle and achieve your investment objectives.   

 Reasons to Apply for Citigold Wealth Management Investing to build your wealth may sound easy but finding the right opportunities that help minimise risks and get potential returns can be tricky. Well-thought out financial decisions can potentially inflate your wealth. If you run on a busy schedule, keeping track of global markets and securities can be difficult. With Citigold’s services, rest assured that managing your wealth will be convenient.  With a wide suite of flexible services and benefits, Citigold Wealth Management aims to help you monitor your wealth goals effortlessly. 

Read below to know more about why you should apply for Citigold Wealth Management services: 

  • Diversify Your Portfolio 

A diversified portfolio that includes smart investments can enhance your financial journey. With Citigold’s multi-currency investment solutions, you can make your choices aligned to your financial requirements. Additionally, Citigold helps you invest online through various sophisticated digital tools. 

  • Advisory  

Citigold offers a personalised wealth management approach, so you can tailor your wealth journey as per your life goals. With Citi’s flexible solutions and a team of specialists you can get assistance in streamlining your investment portfolio.  

  • Dedicated Relationship Manager 

A dedicated Relationship Manager is assigned to you who will guide and assist you in planning your financial strategy. They can help you when you have any queries regarding wealth-building opportunities, products, and more. 

  • Market Tips and Insights

Mega trends in various sectors have the potential to impact global markets across the world. Being up-to-date with every such news, may yield desired outcomes. As a Citigold Wealth Management client, you will receive a regular selection of reports and market updates, specially compiled by our Citi analyst team.

  • Exciting Privileges 

 To make life wholesome from all aspects, Citigold offers you a host of exciting global lifestyle privileges and benefits. Enjoy the promotions on luxury brands, once-in-a-lifetime experiences at iconic destinations, and more.
Conclusion

With Citigold’s comprehensive range of services, creating a diversified portfolio can be easy, and managing wealth can be effortless. Visit the Citigold website to know more about the features and apply for a Citigold account to efficiently manage your wealth.  Disclaimer The content reflects the view of the author of the article and does not necessarily reflect the views of Citi or its employees. Please read the products and offers on Citi UK website for accuracy or completeness of the information presented in the article.

The Importance of Choosing a Good Solo 401k Provider

By
Shelby Grey
-

Perhaps you’ve recently taken the leap and started a solo venture. Or maybe you’ve been self-employed for years, but never gave much thought to your retirement plan. Whatever the case may be, if you operate a single-member business, you should strongly consider starting a Solo 401k retirement plan.

In this article, we will outline the benefits of a Solo 401k plan and what to look for in a plan provider.

Why Should I Start a Solo 401k Retirement Plan?

There’s no telling what the future holds, but effective retirement planning is crucial to being prepared for your later years. A Solo 401k plan is the best option available for self-employed individuals for the following reasons:

  • Contributions. If you are self-employed, you are seen as two distinct people within your company, at least as far as contributions to your retirement plan are concerned. As an employee, you can contribute as much as $19,500 every year to your plan. Additionally, as an employer you can contribute up to $37,500 every year. All told, you can invest up to $57,000 per year toward your plan.
  • Taxes. It’s always good to have options. With a Solo 401k plan, you are afforded options when it comes to how your contributions are taxed. The “Roth” Solo 401k option enables you to contribute after-tax dollars to your fund. This means that when you are ready to start making withdrawals in your retirement, you will not need to pay any further taxes on the money. However, you also have the option to make “Traditional” contributions to your retirement fund. These are essentially the opposite of “Roth” contributions, as your money is taxed as you make withdrawals, not as you make contributions.
  • Loans. It goes without saying, but being out on your own in business is hard work. You don’t have a big company backing you if a tragedy should occur or if something goes wrong. For this reason, a Solo 401k enables you to take out loans of up to $50,000 when needed.

Solo 401k Providers

At this point, you may be convinced that a Solo 401k is the perfect plan for you. But how do you pick between all of the available Solo 401k providers? While you may have needs which are specific to your business and industry, some general things you’ll want to look for in a provider include:

  • Transparent Fees and Costs. Search for a plan provider who doesn’t impose extra fees and costs to manage your retirement fund. You have enough expenses in your life, you shouldn’t have to pay extra for your retirement plan.
  • Excellent Customer Service. When you have questions, your provider should be able to provide answers. Additionally, you’ll likely want to work with a provider who can service your questions through phone, email, and chat options.
  • Intuitive Plan Management. If you need to make changes or modify your plan, you shouldn’t have to spend hours navigating the platform. It should be easy to find what you need, make the changes you want, and move on.

Rave reviews for new Paul Furlong book on power of corporate storytelling

By
Shelby Grey
-

Global brand leaders have rushed to praise ‘Rule the World’ – which reveals the true impact of the power of storytelling in business  

There’s nothing more powerful in business than the ability to tell a compelling story. That’s the cornerstone of the widely-lauded new work titled: Rule The World: Master the Power of Storytelling to Inspire, Influence and Succeed.  

Written by award-winning producer and seminar leader Paul Furlong, the book illustrates that the most inspirational leaders, most influential marketers, and the greatest salespeople all thrive due to their use of fascinating stories.  

Containing memorable anecdotes, relatable examples, and step-by-step advice, Rule the World functions as a comprehensive guide for individuals and businesses to develop passion and skills for storytelling that can lead to true success.  

Furlong, who has shared insights on storytelling via seminars, training programs, podcasts and publications (including Entrepreneur), has drawn on his own diverse career experiences to create the book – having worked in film and TV, sales and marketing, and in a corporate role as Creative Director at Opus Media.  

A Royal Television Society (RTS) award holder, Furlong has collaborated with broadcasters including the BBC, ITV and Channel 4. He is a member of Producers Alliance for Cinema and Television (PACT) and founder/board member at the Producer’s Collective, having also worked with a wide array of world-renowned corporate clients such as Subway, Formula1, Cadent, LFC and The National Lottery.  

Furlong’s latest venture, Rule the World, is already receiving reviews from global business leaders.  

Graham Weihmiller, Chairman & CEO of BNI said: “Rule the World is a brilliant revelation for business leaders and communicators. Most people and organisations struggle to fully connect with their audience. But with great examples and brilliant advice, Paul shows how to resonate, engage and connect with your audience by crafting well told stories.  

“Your messaging, and ultimately your results, will improve many times over by reading this book.” 

Robert Skrob, CEO of Be Unleavable, added: “Storytelling is the most effective way to persuade anyone. Rule the World is filled with storytelling insights with prompts that invite you to think and communicate using effective stories.  

“The detailed analysis of the many story aspects is unique to this work and would be helpful to anyone growing a vibrant tribe of customers.”  

Roger S. H. Schulman, BAFTA-winning and Oscar-nominated screenwriter of Shrek, also praised the work, stating: “Paul understands the power of storytelling and how to use it to maximise business messaging.”  

Rule the World, published by Fisher King Publishing, is available through Amazon, Kindle, W.H. Smith, Waterstones and all other good bookstores.  

Copies can be purchased online in print and digital versions. 

Digital Energy Revolution changes the game for business energy customers

By
John Richardson
-

The new platform allowing people to access better energy deals without paying commission

Bournemouth UK, Tuesday 5th October 2021All good innovation is born from necessity and Digital Energy Revolution’s (DER) new energy platform is very necessary in a time of eye-watering wholesale price rises.  

UK electricity costs reached £277 per megawatt hour on Sept 8, 2021, a 560% increase compared with a year ago [source Bloomberg]. Natural gas prices have also surged, with a 247% increase within the last 9 months.  DER’s new platform – which functions as a tool for accessing the very best business energy deals – could not be better timed.  

The objective is simple: DER is here to disrupt the energy market with technology to allow businesses to cut out the comparison site and energy broker middle-men; accessing energy prices directly from suppliers without added commission.   

Research presented to the UK Energy Ombudsman has shown that UK businesses are collectively paying a whopping £2 billion a year in commission to energy middle-men. The real kicker is that many businesses are not even aware that they are paying these fees while using an energy broker or comparison site, or if they are aware, they believe it to be an insignificant amount.    

The average commission added by middlemen for a business energy contract is £500 per contract year (or 9% of total energy spend). This commission is added directly onto the bills of the business concerned, who are unwittingly paying the middleman commission, every time they pay a bill.  

DER director Callum Pengelly explained: “Savvy business owners know that if they use a middle-man to arrange their business energy contract, commission will be added to their kWh unit rates to pay for the service, what most people are shocked to find out is the amount added to their unit rates. 

“That’s why every man and his dog from every corner of the world is ringing you up offering you a free energy switching service!” DER is changing things by pushing back in favour of UK businesses, offering a transparent and commission-free direct line with significantly cheaper kWh rates.  

By removing broker commission entirely for customers, DER guarantees the lowest prices on the market. Pengelly stated:

“We’re all energy people here, many of us have spent our entire careers in energy, so we are thrilled to be offering UK businesses a fairer, more transparent and cost effective way to interact with the energy markets.   

“We’re the only people in the marketplace brave enough to offer a money back guarantee, because we know our prices can’t be beaten by anyone.”  

Rather than adding commission into the customer’s unit rates for the use of their service, DER charges a business a one-off flat fee of £99 plus VAT, regardless of whether the business agrees a 1,2,3,4 or 5 year contract, or spends £200 or £5,000 a month.   

Not only does this approach make DER the best-priced business energy comparison site in the UK, but it also puts the user business firmly in the driving seat.  With DER, businesses are customers – not just commission cows.   

SOURCE

British Businessman Takes on Global Online Shopping Giants

By
John Richardson
-

A British tech entrepreneur has issued a warning to global online shopping giants Amazon and eBay as he launches a site that threatens to transform sales opportunities for small businesses. 

Tej Randeva has warned the ‘big boys’ of the e-commerce industry that he plans to shake things up with the launch of Add to Cart, a revolutionary new shopping platform that throws a lifeline to independent businesses in their time of need. 

Tej, who is based in Cardiff, believes in his business so much that he has committed £250,000 of his own money into setting up the site and all of the online marketing support that will be provided. 

“Add to Cart is going to disrupt the e-commerce industry and I want the likes of Amazon and eBay to watch out. It is time for us to look out for small businesses after so many were hit so badly by COVID over the last couple of years, including my own online hire services site. 

“Independent online business owners struggle to generate orders online in such a competitive, vast and fast-moving industry. Many are experts at their trade, but don’t know how to manage their own online marketing and drive traffic to their sites. Or, they don’t have the hundreds and thousands of pounds needed to plough into online marketing, SEO and pay-per-click campaigns to generate orders. 

“I decided to use my tech background and my online software development team to create something that would help these small businesses to thrive without having the crippling upfront costs associated with online marketing campaigns or any other barriers to their success,” he added. 

www.addtocart.co.uk allows small business owners to register on their site for free and even sync their current online shops with existing platforms like Shopify with the Add to Cart system. Then, all they have to do is sit back and allow the Add to Cart team to work their magic. 

Anyone who registers will benefit from Add to Cart’s online presence and social media marketing campaigning free of charge and they will be ranking on major search engines such as Google and Bing within 24 hours. Add to Cart will charge 10% of every sale, so business owners are only paying when they are getting successful orders. The company already has more than 100 businesses registered and 80,000 products listed on its site. 

Tej Randeva, who also runs the UK’s leading price comparison site for hire services, anythingforhire.com, added: “Not only are our members getting all of their online marketing support up front and free of charge, we also make sure they have access to the data from their customers, so they can grow their own marketing campaigns and continue to communicate with customers in the long term.”

SOURCE

OnlyFans search engine Hubite evolves into fully-fledged platform to keep user community thriving

By
John Richardson
-

Browsing hub rolls out new features inspired by – and designed for – content creators  Leading OnlyFans search engine Hubite is evolving into a multifaceted platform – with the website undergoing a big redesign in a bid to support content creators.  

Starting life as a browsing hub for OnlyFans accounts, Hubite is now shifting focus towards interactivity and community; with the new platform emulating social media channels such as Instagram.   

Hubite says the revamp coincides with a momentous shift within the sector. Bigger content creation budgets are now being made available on a wider, more regular basis – enticing and enabling people to produce new material in different ways on advanced platforms.  

Co-founder of Hubite Sergio explains: “As the creator economy grows, our product has evolved constantly in order to attend to the needs of this community.  

“It’s amazing to see how willing they are to collaborate to create a safe space, because they are usually rejected by the mainstream media, banks and even worker’s regulations.” 

Thousands of content creators sought refuge on Hubite after OnlyFans announced a ban on explicit content in September, followed by a drastic u-turn. The changing climate has inspired Hubite to push into new territory – expanding from a leading OnlyFans search engine into an all-encompassing platform designed for the content creator community.  

View the new-look Hubite platform online. 

Read more about what’s happening across the content creator community via the Hubite blog.  

SOURCE

Samuel Freshfields Is Looking to Expand with New Office Location in Asia

By
Shelby Grey
-

The firm decided to relocate the Secondary Investment Division for a broader market access

Samuel Freshfields, a next generation investment company that aims to give its clients access to a broad range of financial instruments, promoting the highest standards of integrity, responsibility, and competence to produce a highly personalized counseling process, is pleased to announce that the recently created Secondary Investment Division will be relocated inside mainland China. The move is designed to simplify bureaucracy and enhance access potential to Asia’s biggest market opportunities.

Samuel Freshfields has recently restructured its team of private equity secondary investment experts into a fully developed department and has even appointed one of the Members of the Board, Mr. Charles Chan, to spearhead the Secondary Investment Division. The department is already operational and the firm has adopted the idea of enlarging its physical infrastructure in Asia by appointing a new office location in which the new division can reside and function from.

“Currently, as we have already engaged in 3 separate new projects within China’s huge market, we are located in the company’s Head Quarters. Due to our hand-on approach and round-the-clock analysis of industry data, we have considered that a physical expansion of office infrastructure into mainland China will address some of our most important needs when conducting our activity,” stated Mr. Chan, Member of the Board of Directors and Head of the Secondary Investment Division.

Samuel Freshfields considers Shanghai as the most suitable location, due to the city’s status of one of the world’s financial hubs and the internationally inclined policies that govern its markets.

Mr. Gordon Suen, Executive Vice President and Portfolio Manager for Real Return Strategies, says: “We will most likely decide that we want Shanghai to host one of our offices, however, as we all have come to realize, particularly within the last decade, China is developing at an incredible rate and we want to make sure we consider all probable scenarios regarding future developments that we might be able to capitalize on, for our international database of clients, before we officially decide.”

The new office location will be announced officially by the firm within the next short space of time.

About Samuel Freshfields Samuel Freshfields is a next generation investment company that aims to give its clients access to a broad range of financial instruments and markets as well as professional advice to maximize returns. Samuel Freshfields’ investment advisory and brokerage services are multidisciplinary, allowing the company to devise custom strategies and deliver exceptional results for our clients. The company’s major goal has been to work hand-in-hand with clients to meet their investment needs. While many financial firms push one-size-fits-all products, Samuel Freshfields strives to coordinate the fundamental disciplines of the company’s dividend-growth philosophy with the unique needs of our clients regarding the growth, use and preservation of their wealth.

Just 3% of FinTechs in the Nordics have female engineering leads

By
Shelby Grey
-

The latest diversity report from FinTech recruitment company Storm2, has found that female representation in Nordic FinTech engineering teams stands at 11%, below the global average of 17%. 

With a focus on FinTech companies in the Nordics, Storm2 examined the current state of gender diversity in engineering. The report highlights that there is still work to be done and aims to “educate, spark discussion, and inspire change.”

Angela Ward, VP of Europe at Storm2, said: “The Nordics are world leaders when it comes to gender parity in many areas of society, but this has not filtered through to the FinTech sector. We hope that by sharing our research on why this is still a problem, in even the most progressive of regions, and offering actionable advice on how to turn the dial on the problem, we can create a more diverse, inclusive and more profitable FinTech ecosystem.”

Storm2 is a specialist FinTech recruitment firm that focuses solely on finding candidates with the skills needed to build and scale a successful FinTech company. 

Innovative key custody service Redkey.app set for international expansion after securing further finance

By
John Richardson
-

The safe, secure and simple key storage company has appointed a new CEO after fresh round of investor funding 


Redkey.app – the 24/7 key safekeeping service – is set for international expansion after securing further funding. 
The Barcelona-based app – which allows users to anonymously store emergency keys in a secure place and request drop-off 24/7 – has received another thumbs-up from investors. 


An injection of €300,000 is now being used to diversify the brand into new cities and accelerate app performance. 


Redkey.app is described as an “innovative key safe logistics solution”, operating the first specialised technology platform of its kind. Designed for domestic and personal use (homes, vehicles, business premises), the app has already proven a huge success in Catalonia – with plans to roll out the service domestically and further abroad. 


New CEO to lead key management service through 2021 


With Redkey.app, emergency keys are stored in security cabinets under permanent surveillance. Whenever keys are needed, users simply tap the app and a driver will deliver them at any time, day or night. 
Users are assigned a unique and encrypted security code for each key (the app never asks for names) and subscriptions are completely free. 


Encrypted code technology means owners can also authorise keys to be sent to anyone they may want to access the property or vehicle – such as friends or family members. 


Astrid Camprubí has been appointed to the board of directors to lead the company into the next chapter, equipping the company with the skills it needs in business development, devising strategies and the design of scalable models. 


Camprubí stated: “Redkey.app lets you control your house/space, without the need to be physically present, so we provide you with confidence and a personal service. 


“This new capital injection will be used to develop and optimise the service, the integration and the UX and will enable us to begin our expansion into new capitals.”


Redkey.app: A visionary idea for changing times 
Redkey.app was founded in 2021 by five visionaries in Javier Durán, Joan Castells, Ernest Quingles, Eduardo Conde and Ramón Barguñó. 


Since launch, the company has made a strong commitment to in-house talent, enabling it to have control over security and foster the engagement of that talent. 


The unique and pioneering nature of this project has enticed investors specialising in Technology and Smart Cities – with more money now being dedicated to the platform for further development.

 
Learn more about Redkey.app by visiting the official website. 

SOURCE

1...293031...61Page 30 of 61
© ASB.org.uk | All Rights Reserved