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How To Pay For Udemy Courses In Nigeria

E-learning has greatly improved the education system globally. It is flexible, accessible, less expensive, and convenient for all students, tech enthusiasts, and business owners, for those seeking how to make money as a freelancer and individuals generally.There are so many e-learning platforms like Udemy, Coursera, LinkedIn Learning, Skillshare, Edx, Khan Academy, and so many others. Udemy has proven to be one of the largest e-learning and teaching platforms that offers over 213,000 courses, by over 60,000 instructors to over 62 million students. You can find various kinds of courses from different niches. Ranging from technology, business, finance & accounting, marketing, entrepreneurship, arts, music, design, health & fitness, to personal development. You can find almost every niche on Udemy, to help sharpen your skills and boost your career. As a new learner on Udemy, there are some key things you may need to do to make your learning experience easy and smooth. We are going to break them down:Create a Udemy AccountOnce you get to the website, create an account with your e-mail to enable you to have access to all the courses.Select a CourseSearch for various course options that align with your interests and career goals, then choose a course by going through - Written reviews- Number of students who have rated the course - The course content - Instructor’s Bio - Number of students enrolled in the course.- You could also check if the course offers a preview to have an idea of the quality of content and teaching style.These will give you an insight into the best course to go for that aligns with your interests and goals.Check for Discounts and CouponsUdemy often runs promotions that can help you save on course fees, the following tips and strategies can help make your learning easier and also affordable.- Always check Udemy’s website and social media pages for discounts during Black Friday or Cyber Monday sales. - Check your wishlist regularly to receive notifications when your wishlist courses go on sale.- Make sure you sign up for Udemy’s Newsletter to receive exclusive discount codes and notifications about upcoming sales.- You could also take advantage of the exclusive introductory offers for new learners.- Look out for groups or communities on various platforms like Telegram and WhatsApp channel where Udemy free courses are bought on coupon by the group Admin and they share the links to their members to enroll for free.You may need to make a one-time payment to the Admin to have access to numerous in-demand courses without limitations.Udemy Free Courses- Udemy offers over 10,000 short free courses for new learners and professionals seeking to learn new skills. The free courses have their pros and cons.Free coursesPaid CoursesOffers online video contentOffers online video contentNo room for asking questions.You can ask questions and get a response.You can’t send a direct message to the instructor.You can send a direct message to the instructor.No certificate of completion at the end of the Course.You’ll get a Certificate of completion at the end of the courseTo get the best out of Udemy courses and your learning journey, you will have to enroll in paid courses.General Payment Methods on UdemyUdemy supports a variety of payment methods which depend on your device, location, and what country you registered your Udemy account. - Udemy accepts most international debit and credit cards like Visa and MasterCard and many other prepaid credit cards.- Paypal is another supported method of payment for Udemy courses. It is an online financial platform where you can securely send and receive money and also conduct various financial transactions. You can learn more about how to create a PayPal account in Nigeria for a more comprehensive guide.Methods of Payments On Udemy Using Virtual CardsIf you have been experiencing challenges on how to pay for Udemy courses in Nigeria.Now, here is the thing, there have been Udemy payment issues in Nigeria as a result of the restrictions placed by the Central Bank of Nigeria on naira cards, which has made international transactions very difficult. This situation has left many Nigerian learners to search for alternative methods and solutions on how to pay for Udemy courses online.Use the following step-by-step guides on how to pay for Udemy courses in Nigeria with various virtual cardsWhat are Virtual Cards?A virtual Card is a digital form of payment card for making payments against purchases made through mobile apps or online without the need to carry physical cards or cash. Virtual cards work exactly like your physical bank cards. The difference is that they live in your digital wallet on your phone, instead of your physical wallet. The following Virtual cards can be used to make Udemy Payments online from Nigeria:Pay4me- Download the pay4me App from the Google Play Store or IOS App Store.- Register on the App with your e-mail address and a password to create an account.- Click on the “payments” option, choose “other payments”, and select the currency you wish to pay with.- Provide your full name and the specific course link you wish to enroll in. - Select your transition speed - whether you want it processed immediately or within a specific time frame.- Choose your preferred payment method which could be through a direct bank transfer, credit card, or USSD.Please note that to get the best out of it, your course purchase has to exceed the amount the course costs. Evertry- Visit the Udemy Website, go to the course page search for the courses you are interested in, and click on “Add To Cart”- You will be directed to the Checkout page, which will feature the various payment methods available to you. Click on “Proceed To Check Out” to initiate the payment process automatically.- Choose a Credit/Debit card as your preferred option.- Fill in your virtual card details; name, card number, expiry date, and CVV. - Review your payment details, confirm your transactions and your payment will be automatically processed.- Your card will be charged, and you will get an email from Udemy that gives you automatic access to your newly purchased course. Payday Payday is a Fintech startup that provides a means for Africans within and outside the continent to send and receive money.- Download the app and sign up- Register on the app with your name, e-mail address, and password. - Verify your email. - An OTP will be sent to your e-mail address, copy and paste the 6-digit code and click on “Continue”- Configure your unique 4-digit PIN code and complete your verification process which may take a couple of hours.- Fund your card and use the information provided to make payments on UdemyCardify - Download the App from the Google store or IOS App store- Create an Account- Verify your account- Input all your details on the App- Verify your BVN- Turn on your Two-Factor Authentication.- Click on the card button to create a card- Click on “Create Card” on the card page, then select your wallet to make a payment.- Once your Payment is successful, click on “Continue” to see your new virtual card.- Fund your wallet with your naira from your bank account and then use it to fund your card- Visit the Udemy website, and proceed to make payments for the courses you wish to take. BitnobBitnob is a financial technology money transfer app that helps users send and receive money within African countries and internationally. - Download your Bitnob App from Apple or Google Store- Verify your account- Fund your wallet and create a new virtual card.- You’ll be requested to complete your KYC- Know Your Customer- Customize and personalize your card. Enter your transaction PIN.- Proceed to the Udemy website to make payment for your courses.ConclusionPlease also note that there could be so many other reasons why you are unable to make payments for your Udemy courses which may not be as a result of Naira restrictions. You can follow these methods to troubleshoot your payment failures:- Clear your browser's cache and try again.- Try using the Incognito mode. Navigate to your menu (the three dots) at the top right corner of your browser and select “New Incognito window”- Ensure you enter the correct details for your payment method and make sure your card is not expired.- Your bank may also be experiencing unknown technical issues.With the use of virtual dollar cards, you can make payments online without difficulty and be able to access all the valuable resources you need to achieve your learning goals on Udemy.

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7 Ways to Generate Revenues to Fund Your Business Ideas in 2024

"Eureka!" exclaimed a guy on a bus, facing his friend. "I just got a brilliant startup business idea," he shared with his companion. After the exclamation and detailed explanation, a graveyard silence and mournful look took over their faces; the beautiful idea just gave up the ghost.This was a discussion between two friends in transit about an idea that could have significantly improved their livelihood, but it died on the bus. Why, you ask? The short-lived idea met its demise due to a lack of startup capital.A startup without adequate capital is akin to having no idea at all. Just as the saying goes, "Money answers all things," the same holds for your startup idea. The alarming rate at which startup businesses perish prematurely, especially within their first year, calls for an investigation. Discovering the antidote for this cancer that has been responsible for these sudden deaths is highly imperative. Your idea may be an e-commerce business, a SaaS business, or a tech innovation.Are you eager to learn the best ways to secure the necessary funds to fuel your startup business? Join us as we unveil strategies to tap into funds you never knew you had.7 Ways to Generate Revenue for Your Startup BusinessWe understand that you're on the edge of your seat, eyes glued to your computers, eagerly awaiting information on how and where to get the money to fund your startup business ideas. Not to worry, let's get started!#1. Develop a Convincing Business PlanFailure to plan is a giant stride towards failing. Your startup business plan is your documented vision, serving as the manual that guides your mission to avoid being a grounded entrepreneur.A well-structured startup business plan is the key to all the other strategies we'll discuss later. The major industries you see today are the products of well-structured business plans. Writing a startup business plan may require hiring an expert, or you can take your time to put one together yourself.A well-structured and detailed startup business plan can win anybody's heart and get you the funding you need to bring your startup business to life. Also, note that banks rarely provide loans to startups without achievable plans.It emphasizes the importance of having a structured, detailed, and achievable startup business plan to conquer the startup funding challenge.#2. Save Up!The greatest mishap you can encounter when starting your business can be self-inflicted. Remember, you're the first beneficiary of your preparedness, in case you didn't save. One key thing you must do is save up.You are the only one who understands the value of your dreams; let this spur you to save. Saving up showcases your determination and can influence people around you to help. Funding your startup business provides a positive drive, instilling a sense of belonging and a refusal to quit in the face of trials.Successful business owners often sacrifice sleep to safeguard their hard-earned investments. The influence of self-savings could be the fund your startup business needs to break its limits, so save up to preserve that dream business of yours.Ensure that you save more money as you earn. One of the major ways to earn more money is to try some online earning platforms. Another major way is online stock investment, so as you begin to get your returns, you can invest them in your startup.#3. CrowdfundingWondering how some startups secure a ridiculously high amount of money before or just after starting? Most of them raise funds from people who believe in their dreams through crowdfunding.Essentially, crowdfunding involves pitching to people with money to spare. Many individuals donate small amounts, creating a pool from which you can draw. In most cases, there's no need to report back to them.To secure crowdfunding, ensure you have a workable startup business plan. Another secret is to align your startup business with one of the Sustainable Development Goals, making your crowdfunding pitch more appealing.The only challenge you might face is competing proposals with similar ideas, emphasizing the need for a well-structured and convincing proposal.#4. Business Incubators and AcceleratorsAccessing funds for your startup has never been easier than through business accelerators and incubators. Business accelerators help fast-track your business, while incubators nurture it.You gain access to free mentoring from investors, and networking becomes more accessible. The only challenge here may be your dedication. If you can commit unwaveringly to your startup business, you can be confident that it will thrive.#5. Presale AdvertisementsThis fundraising model is familiar, as some big brands like Apple and Samsung have adopted it. They advertise their new product, and people make orders before the official launch. This method helps establish trust with prospective clients, allowing you to display what you intend to offer. If you are convincing enough, be ready to secure the funds needed for your startup business.#6. Contests and CompetitionsEvery day, numerous business pitch competitions arise. All you need to do is present and discuss your startup business plan. Meeting the judges' demands can lead to winning funds.Competitions such as the Tony Elumelu Foundation Competition and various 2024 tech hackathons require your startup business to address a societal need, indicating a market for your product. A well-structured business plan can secure funds through this avenue.#7. Note: Loans are Never Your Option to Start UpYou might wonder why loans were not mentioned. Sourcing funds through bank loans is not advisable for starting a business. Most banks will only entertain pleadings if you meet deadlines, and loan interest rates can be overwhelming.We strongly advise against considering any form of loan as a capital source for your startup business.Bottom line Your startup ideas can come alive. All you need to do is create a compelling startup business plan and choose from the stated options. Be diligent, as diligence is another form of capital. Then you can breathe life into that dying startup business idea of yours.Frequently Asked Questions About How to Fund Your Business Ideas in 2024Getting funds for your startup ideas will make you confused. It is normal if you have questions to clarify your doubts and confusion. Here are a few of the popular queries about raising funds for your business ideas in 2024:Can You Get Funding With Just an Idea?Yes, you can get funding with just your startup idea. Angel investors are some of those who can pick up interest in your ideas. You can also get startup businesses funded by participating in pitch competitions and other government programs.What kind of idea can I seek funding to start?You can seek funding for any kind of business. Once your idea is marketable and profitable, you can be certain that you’ll get funding. Your ideas may revolve around tech business, e-commerce business, or SaaS business, ensure that your idea is solving a consumer pain point. With this, you can be sure to get funds for your startup.Which incubator Programs can I apply for as a startup?There are more than 1000 incubator programs you can get yourself into. An incubator/venture capitalist who has a standing history of birthing so many businesses is Y Combinator. There are many others; you may need to search for all of them yourself and make a choice of the one that best suits you.

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What is Capital Budgeting? How Does Capital Budgeting Work?

Capital budgeting serves as a crucial tool for both businesses and investors, facilitating the evaluation of when invested funds, along with accrued interest, will be recouped. Essentially, it gauges the profitability potential of any desired investment endeavor.Consider the case of an eCommerce business owner contemplating an investment in a mobile app. Before committing wholeheartedly, it's imperative to conduct a thorough assessment of potential cash inflows and outflows.Only through this process can make decisions on whether to proceed with the investment or to preserve capital for alternative purposes. A strategic approach to capital budgeting will enhance decision-making and also contribute to an efficient resource allocation to optimize returns on investment.Importance of Capital Budgeting for New BusinessesThe resulting importance of engaging in detailed capital budgeting cannot be overemphasized. Notwithstanding, if you are still not clear on the purpose of capital budgeting, the importance of capital budgeting is discussed below:- Resource Allocation: Capital budgeting helps allocate financial resources efficiently. It ensures that funds are directed toward projects or investments that align with organizational goals and yield the highest returns.- Long-Term Planning: Capital budgeting enables organizations to plan for the long term by evaluating investments with extended time horizons. It supports strategic decision-making regarding projects that have lasting impacts on the business.- Risk Management: Through comprehensive analysis, capital budgeting assists in identifying and managing risks associated with investment projects. This proactive approach minimizes the chances of financial loss.- Profitability Assessment: Capital budgeting measures the potential profitability of investment opportunities. This evaluation is crucial for making informed decisions and selecting projects that contribute positively to the bottom line.- Optimal Capital Structure: It aids in determining the optimal capital structure by assessing the mix of equity and debt. This ensures a balance that minimizes the cost of capital and maximizes shareholder returns.- Competitive Advantage: Organizations that effectively utilize capital budgeting gain a competitive advantage. By investing in projects that enhance efficiency or introduce innovative products, they position themselves for long-term success.- Alignment with Goals: Capital budgeting ensures that investment decisions align with the overall objectives of the organization. This alignment is crucial for maintaining a cohesive and strategic approach to business development.- Enhanced Decision-Making: The systematic evaluation process in capital budgeting enhances decision-making. It provides decision-makers with quantitative data and insights, reducing uncertainty and promoting well-informed choices.- Stakeholder Confidence: Transparent and well-thought-out capital budgeting processes allow you to gain confidence in stakeholders, including investors, creditors, and employees. This confidence is vital for attracting investment and fostering positive relationships.- Cash Flow Management: Capital budgeting involves forecasting cash inflows and outflows, aiding in effective cash flow management. This is critical for maintaining liquidity and meeting financial obligations.- Acquisition DCF: Values a target company based on its future cash flows, factoring in synergies and potential restructuring.- Project Expansion DCF: Evaluate the viability of expanding an existing project by analyzing the incremental cash flows and potential risks.- Merger DCF: Assesses the value creation potential of a merger by considering the combined entity's future cash flows and operational synergies.- Project nature: Long-term projects with steady cash flows favor NPV, while short-term projects with immediate returns may benefit from the payback period.- Risk tolerance: IRR can be sensitive to changes in assumptions, making NPV a safer bet for risk-averse companies.- Investment horizon: For long-term investments, considering future cash flows becomes crucial, making NPV and DCF techniques preferable.- Project complexity: Highly uncertain projects with flexible options benefit from ROV, while those with uneven cash flows might need MIRR.- Financial model: Mergers and acquisitions require specialized DCF techniques, while project expansions can leverage a modified NPV approach.- Data availability: ROV and some DCF techniques rely on estimates and assumptions; to ensure sufficient data exists for accurate analysis.Final WordsCapital budgeting is not just about numbers dancing on paper. It is centered on making informed judgments that will reposition/position your investment for success.If you can equip yourself with the knowledge shared about the tools discussed here, you will succeed. Most importantly, you’ll see your company blossom.Remember, capital budgeting is an ongoing journey, not a one-time destination. Regularly revisit your decisions, embrace new information, and adapt your strategies as needed.Embrace the power of diverse methods, from the simplicity of the payback period to the sophisticated intricacies of ROV and DCF techniques.So, go forth and conquer the world of capital budgeting! Remember, the future belongs to those who invest wisely, and the tools to build that future are now at your fingertips.Frequently Asked Questions About Capital BudgetingGetting it right from the start may seem impossible for a new investor who is looking to start a new venture. It is no gainsaying that a lot of questions will be bothering your mind about the important process you must engage in Capital Budgeting.Here are a few of the questions you may have in your mind:Does Capital Budgeting Influence Your Investment Decision?Yes, it can influence it. The aim of deploying capital budgeting is to decide whether to go ahead with a proposed business venture or not. And if executed meticulously, then you can be sure to make the right call.What is the Best Capital Budgeting Technique?NPV is said to be the best Capital Budgeting Method. NPV approach is the most intuitive and exact valuation approach to capital budgeting problems.Will Inflation Affect Capital Budgeting?Yes, inflation will affect the capital budget. Rising costs due to inflation will likely lead the firm to cut back on investments, squeeze its inventory and accounts receivable, and potentially take on more short-term debt, which could widen the spread between short and long-term interest rates.Are There Specific Business Investments That Need Capital Budgeting?Be it online investments, eCommerce business, selling digital products, software business, or any other tech business, you will need to do your capital budgeting if you don’t want to run your business blindly.

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How To Pay For Udemy Courses In Nigeria

E-learning has greatly improved the education system globally. It is flexible, accessible, less expensive, and convenient for all students, tech enthusiasts, and business owners, for those seeking how to make money as a freelancer and individuals generally.There are so many e-learning platforms like Udemy, Coursera, LinkedIn Learning, Skillshare, Edx, Khan Academy, and so many others. Udemy has proven to be one of the largest e-learning and teaching platforms that offers over 213,000 courses, by over 60,000 instructors to over 62 million students. You can find various kinds of courses from different niches. Ranging from technology, business, finance & accounting, marketing, entrepreneurship, arts, music, design, health & fitness, to personal development. You can find almost every niche on Udemy, to help sharpen your skills and boost your career. As a new learner on Udemy, there are some key things you may need to do to make your learning experience easy and smooth. We are going to break them down:Create a Udemy AccountOnce you get to the website, create an account with your e-mail to enable you to have access to all the courses.Select a CourseSearch for various course options that align with your interests and career goals, then choose a course by going through - Written reviews- Number of students who have rated the course - The course content - Instructor’s Bio - Number of students enrolled in the course.- You could also check if the course offers a preview to have an idea of the quality of content and teaching style.These will give you an insight into the best course to go for that aligns with your interests and goals.Check for Discounts and CouponsUdemy often runs promotions that can help you save on course fees, the following tips and strategies can help make your learning easier and also affordable.- Always check Udemy’s website and social media pages for discounts during Black Friday or Cyber Monday sales. - Check your wishlist regularly to receive notifications when your wishlist courses go on sale.- Make sure you sign up for Udemy’s Newsletter to receive exclusive discount codes and notifications about upcoming sales.- You could also take advantage of the exclusive introductory offers for new learners.- Look out for groups or communities on various platforms like Telegram and WhatsApp channel where Udemy free courses are bought on coupon by the group Admin and they share the links to their members to enroll for free.You may need to make a one-time payment to the Admin to have access to numerous in-demand courses without limitations.Udemy Free Courses- Udemy offers over 10,000 short free courses for new learners and professionals seeking to learn new skills. The free courses have their pros and cons.Free coursesPaid CoursesOffers online video contentOffers online video contentNo room for asking questions.You can ask questions and get a response.You can’t send a direct message to the instructor.You can send a direct message to the instructor.No certificate of completion at the end of the Course.You’ll get a Certificate of completion at the end of the courseTo get the best out of Udemy courses and your learning journey, you will have to enroll in paid courses.General Payment Methods on UdemyUdemy supports a variety of payment methods which depend on your device, location, and what country you registered your Udemy account. - Udemy accepts most international debit and credit cards like Visa and MasterCard and many other prepaid credit cards.- Paypal is another supported method of payment for Udemy courses. It is an online financial platform where you can securely send and receive money and also conduct various financial transactions. You can learn more about how to create a PayPal account in Nigeria for a more comprehensive guide.Methods of Payments On Udemy Using Virtual CardsIf you have been experiencing challenges on how to pay for Udemy courses in Nigeria.Now, here is the thing, there have been Udemy payment issues in Nigeria as a result of the restrictions placed by the Central Bank of Nigeria on naira cards, which has made international transactions very difficult. This situation has left many Nigerian learners to search for alternative methods and solutions on how to pay for Udemy courses online.Use the following step-by-step guides on how to pay for Udemy courses in Nigeria with various virtual cardsWhat are Virtual Cards?A virtual Card is a digital form of payment card for making payments against purchases made through mobile apps or online without the need to carry physical cards or cash. Virtual cards work exactly like your physical bank cards. The difference is that they live in your digital wallet on your phone, instead of your physical wallet. The following Virtual cards can be used to make Udemy Payments online from Nigeria:Pay4me- Download the pay4me App from the Google Play Store or IOS App Store.- Register on the App with your e-mail address and a password to create an account.- Click on the “payments” option, choose “other payments”, and select the currency you wish to pay with.- Provide your full name and the specific course link you wish to enroll in. - Select your transition speed - whether you want it processed immediately or within a specific time frame.- Choose your preferred payment method which could be through a direct bank transfer, credit card, or USSD.Please note that to get the best out of it, your course purchase has to exceed the amount the course costs. Evertry- Visit the Udemy Website, go to the course page search for the courses you are interested in, and click on “Add To Cart”- You will be directed to the Checkout page, which will feature the various payment methods available to you. Click on “Proceed To Check Out” to initiate the payment process automatically.- Choose a Credit/Debit card as your preferred option.- Fill in your virtual card details; name, card number, expiry date, and CVV. - Review your payment details, confirm your transactions and your payment will be automatically processed.- Your card will be charged, and you will get an email from Udemy that gives you automatic access to your newly purchased course. Payday Payday is a Fintech startup that provides a means for Africans within and outside the continent to send and receive money.- Download the app and sign up- Register on the app with your name, e-mail address, and password. - Verify your email. - An OTP will be sent to your e-mail address, copy and paste the 6-digit code and click on “Continue”- Configure your unique 4-digit PIN code and complete your verification process which may take a couple of hours.- Fund your card and use the information provided to make payments on UdemyCardify - Download the App from the Google store or IOS App store- Create an Account- Verify your account- Input all your details on the App- Verify your BVN- Turn on your Two-Factor Authentication.- Click on the card button to create a card- Click on “Create Card” on the card page, then select your wallet to make a payment.- Once your Payment is successful, click on “Continue” to see your new virtual card.- Fund your wallet with your naira from your bank account and then use it to fund your card- Visit the Udemy website, and proceed to make payments for the courses you wish to take. BitnobBitnob is a financial technology money transfer app that helps users send and receive money within African countries and internationally. - Download your Bitnob App from Apple or Google Store- Verify your account- Fund your wallet and create a new virtual card.- You’ll be requested to complete your KYC- Know Your Customer- Customize and personalize your card. Enter your transaction PIN.- Proceed to the Udemy website to make payment for your courses.ConclusionPlease also note that there could be so many other reasons why you are unable to make payments for your Udemy courses which may not be as a result of Naira restrictions. You can follow these methods to troubleshoot your payment failures:- Clear your browser's cache and try again.- Try using the Incognito mode. Navigate to your menu (the three dots) at the top right corner of your browser and select “New Incognito window”- Ensure you enter the correct details for your payment method and make sure your card is not expired.- Your bank may also be experiencing unknown technical issues.With the use of virtual dollar cards, you can make payments online without difficulty and be able to access all the valuable resources you need to achieve your learning goals on Udemy.

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Have you ever dreamt of generating an income from the comfort of your home, without the constraints you get with the 9-5 traditional job? Perhaps you're a student who is in search of financial independence, or maybe someone looking for a flexible side hustle, with substantial pay, to fit your busy schedule.The good news is that this digital age has unlocked a plethora of opportunities to make money online without investment. You don't have to learn or make any investment (and if you love to invest, you can learn how to invest in stocks online, cryptocurrency), you just have to know the how and here is where we come in. In this blog, I will be unveiling the secrets to how to make money online from home without investment.5 Ways to Make Money Online Without Investment in 2024The internet has grown in popularity over time, however, there have been several short-lived ways to make money. In this section, you will be learning the hack on how you can make money online without investment this year.Amidst several ways, our top picks are:- Learning a skill- Freelancing- Virtual Assistance- Content Creation- DropshippingInvest in Yourself: Learn a SkillWhile the purpose of this article is to show you ways you can make money online without investment, the best way to increase your earning potential is by investing in yourself.Since the global lockdown during the COVID-19 pandemic, the online market space has vastly increased. That has directly called for a tremendous increase in the skills needed by firms across the globe. Learning any of these can positively transform your finances. Some of these skills areProgrammingProgramming skills (software dev, data science, cyber security, etc) are highly sought after. You can learn these skills from online resources like freecodecamp or YouTube.BloggingAnother skill you can learn and master in a relatively short time is writing as a blogger. You can learn writing for free on HubSpot, among others and specialise in any niche of interest. You can then consider honing your skills for various online gigs like content creation, copywriting, or even editing.DesigningNow, if you know you have an eye for aesthetics and usability, then this is your way to financial freedom. You can learn the fundamentals of graphic design, web design, or user interface/user experience (UI/UX) on platforms like Udemy, Alison, etc.Whether you’re interested in learning programming, writing, designing, digital marketing or any other field, the hack to making money from it is gaining mastery. For instance, if you are learning writing, you can hone your skills in SEO and gain mastery at it instead of writing across several niches. Take advantage of several online resources across different platforms, stay curious, and continuously strive to improve your skills so as to succeed in the online marketplace.FreelancingIf you are looking for how to make money online without investment, FAST, then freelancing is one of your best bets. Freelancing is simply when you offer your skills and services to clients (those in need of it) online and receive money for it. With freelancing, you can easily make money from what you love to do, such as writing, data entry, graphic design and more. That being said, your skills must be marketable because you will be the one securing clients.As a writer, you can source for clients across several platforms like Upwork, Fiverr and even social media platforms like X(formerly Twitter).Become a Virtual Assistant: Assist RemotelyVirtual Assistant (VA) is another great option to make money online without investment. VA is a means for making money online for free, unlike others where you will have to learn a core skill. This is particularly true for individuals with good planning and organizational skills. In recent years, a lot of organizations and even entrepreneurs have searched for someone who can assist them in managing their schedules and responsibilities in exchange for payment.As a virtual assistant, you are expected to handle administrative tasks, and sometimes marketing, technical, sales, and other tasks for the client. You can find virtual assistant roles advertised on LinkedIn, social media, or even dedicated virtual assistant websites.Aside from using freelancing platforms, you need to set up a payment method, especially if you are not in the same country as your client. You easily set up an account on Paypal which allows you to receive payment across the world. For Nigerians, you can read about how you receive and send money.Content Creation: Create and MonetizeAccording to Datareportal, a “typical internet user spends almost 2 1⁄2 hours each day using social media platforms…”. The Gold mine in that report is the huge number of hours everyone on the globe spends online in a day, and this is where your audience lies.As a content creator, your job is to produce interesting, informative, innovative, and relatable content. You then reach your audience using TikTok, Instagram, YouTube, and other mediums. Its is important that you also recognize the audience you are targeting to determine the platforms on which you can most effectively reach them.You can be a content creator and also make money through sponsorships, advertisements, paid partnerships, and more. A perfect way you can make money online without investment.DropshippingYou will need a skill to earn from all three methods mentioned above. Even as a virtual assistant, you’ll still learn time management. But if you need an answer to "how to make money online for beginners without investment”, knowing that you do not have any skill, then gather here and read about drop shipping.What then is Dropshipping? It is a type of eCommerce business where you sell products without having to carry any inventory (i.e. have any product in stock). See it as a middleman who connects a buyer to a seller.For instance, if you know a person who makes a salad, you can get an order from a customer who wants salad and give the order to the seller who then makes it and delivers it to the customer in your name. Just like Amazon, AliExpress, etc.You can start your own online business with little to no money with dropshipping. Just by connecting people who have a product to buyers who need it, you can make money online without investment.What is the fastest way to make money online without investment?There are ways you can make money online without investment, some of which are covered above. What you must also know is that the fastest possible way to make money online fast without investment won't likely be building a long-term sustainable income stream. However, here are a couple of options that can generate a quick return:- Freelancing with a skill you already have, although you will need to use a freelancing platform to get a client from.- If you are a “people person”, you can start creating content online on YouTube and social media platforms. Once you hit a threshold of followers, you can monetize your page.- Lastly, you can take online surveys for mobile applications and websites to make money online.ConclusionVoilà! You are now well equipped on how to make money online without investment. Remember that building a sustainable online income may not need any investment and often takes time and effort.It is also important that you choose an area that aligns with your interests and/or skills, as this will help reduce the stress of dabbling into something beyond your league. Also be prepared to dedicate time and effort to learning and growing, no matter the league you dabble into. By combining the right approach and consistent work, you can unlock the potential to make money online without investment.A piece of unsolicited advice. Now that you are going to be earning from home, you might want to learn about personal budgeting and zero-based budgeting. You can start budgeting your money to invest in gold, real estate and mutual funds online.If you are new to the world of investment, you can read what online investment is and find the best online stock broker.Frequently Asked QuestionsCan I earn money by typing online?Typing online cuts across several niches such as blogging as a writer, writing scripts for content creators, data entry and several other things. You can simply create an account on any of the freelancing platforms mentioned above to meet with clients who are ready to give out typing jobs. So, yes! You can make money online without investment through typing.How do you make money by watching ads?The amount of money you make from watching Ads online is subject to the amount the platform you are using offers. Most platforms offer between $0.50 to $3.0 per video you watch. They also have different minimum amounts you can withdraw, some $10 and some raise their bar higher.As an add-on, most of these platforms also allow you to make money online without investment by doing other things, like taking surveys, answering questionnaires, and more!How to Make Money on TikTok in 2024?Social media like TikTok, Twitter, Facebook, etc, are platforms you can use to make money online without investment. On TikTok, you can do a lot to earn money for free, such as participating in affiliate marketing by promoting other people’s products on your page.When you grow your followers to a large extent, you can get different promotional deals and even become a brand ambassador. You can read more about how you can make money online without investment on TikTok here.

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How to Invest in Mutual Funds Online

Have you ever dreamt of building long-term wealth and thought of having an investment as part of your personal budget but overwhelmed by complex financial jargon? Mutual funds offer an easy fix, pooling your money with others to invest in a diverse range of assets. For instance, if you are an affiliate marketer who wants to reinvest some of the earnings rather than just saving it in a bank, then you can diversify by investing in mutual funds.Navigating the online investment platforms can seem daunting but fear not! This article will walk you through the steps of investing in mutual funds online, empowering you to take the wheel of your financial future.What are Mutual Funds?Imagine you're running a successful online earning platform. You connect freelancers with clients, offering a diverse range of skills and services. Each freelancer brings a unique talent to the table, contributing to the overall success of the platform.Mutual funds operate on a similar principle, but instead of freelancers, they pool money from numerous investors.Mutual funds are investment vehicles that pool money from multiple investors and invest it in a variety of assets. The mutual funds are often managed by fund managers, who are highly qualified professionals. While investing in mutual funds, investors can choose from a variety of funds, each with its own gaol of investment, how much risk the investment has and potential return. This means you choose what suits you best.Now narrowing it down to mutual funds online. Online investment platforms have made mutual funds accessible to us all. Anyone with a computer, a tablet, or even a smartphone can now buy mutual funds. All you have to do is know where and how to buy them.Where to Buy Mutual Funds Online?Just like creating a well-balanced budget is crucial for the financial health of your e-commerce business, selecting the right platform for your online mutual fund investments is essential.Here are the three major ways that you can buy mutual funds online:1. Buy Mutual Funds Directly From The Mutual Fund ProviderSome mutual fund companies allow you to directly invest through their official website. This is often a good option if you have a certain fund in mind to buy. Learn more about AMC's direct online investment here.2. Buy Mutual Funds From Investment CompaniesFor broader investment options, consider investment companies like the Vanguard Group. They allow using an in-house account to buy and sell mutual funds and exchange-traded funds from various firms.3. Buy Mutual Funds On Online BrokeragesUnlike other options mentioned above, online brokerages are essentially financial institutions that provide a digital platform for you to buy and sell various investment products, including mutual funds online, stocks, bonds, and even options.The benefit of using online brokerages is that it allows you to tailor your portfolio to your level of risk tolerance and specific goalsHow to Set Up an Online Mutual Fund AccountLet us now start looking into how you can purchase your first online mutual fund, and that starts with knowing how you can set up an account. When you are setting up an account via any of the means of investing in mutual funds online, you must follow the instructions as stated. Fill out all the required information and submit it on the site of the fund house.In most cases, you will be asked to provide your bank account details to transfer the funds for your initial investment and, if you like, to be used as the source for monthly purchases of additional mutual fund shares.You will also, in most cases, have to specify whether you want your fund dividends to be automatically reinvested back into the fund or transferred into your account.Be also aware that when setting up an account, it will, on average, take 10 to 20 minutes. However, the processing of the application and getting your account funded usually takes one to three days, depending on the platform you choose.Executing an Online Mutual Fund Trade: A Walk in the Park (Almost)!Imagine you've found the perfect mutual fund for your goals. Now, you must understand how to buy those shares.You will first log in to your chosen platform (brokerage or fund provider). Navigate to the "trade" or "invest" section, and search for your chosen fund using its ticker symbol or name. Once you find it, you'll see details like the current price and minimum investment.Now, the fun part is deciding how much to invest! You can either specify a dollar amount or the number of shares you want to buy. Review your order carefully, double-checking the fund details and amount. That's it! Your order is placed, and you're on your way to becoming a mutual fund investor.Remember, these are just the general steps, specific interfaces might differ slightly between platforms. Always refer to your chosen platform's guide for detailed instructions.How Can You Invest In Mutual Funds Online?Having understood the two crucial parts to investing in Mutual Funds online, the platforms to use and how to trade, the what is left is pretty simple. Think of it like online shopping - find the mutual fund, decide how much to invest, and hit "buy."When handling this mutual fund online, it can occur in two ways, either via the website or the mobile app.1. By Creating an Account on an Official Website (AMC Website)As explained before, you can find mutual funds on each category of every Asset Management Companies (AMC) official website. All required of you is just to follow the instructions provided on the website site and fill in all the required information, and submit it.To begin investing, you'll also need to complete the Know Your Customer (KYC) process. This involves the firm requesting and verifying certain numbers and documents from you.2. Through a Mobile ApplicationAside from registering and investing through the AMC website, you can also invest through mobile applications. This is quicker, hassle-free and more direct. Through the mobile application, you can do almost everything you do either onsite or on the website.It allows you to view your account statements, buy or sell units and even check other relevant details about your portfolio. Some applications even allow you to invest in various funds offered by different fund houses.ConclusionYou're well on your way to unlocking the exciting world of online mutual fund investing. You are now armed with the knowledge of mutual funds, online investment platforms, and the step-by-step process.Remember, this journey is a marathon, not a sprint. Take your time, research thoroughly, and prioritize your long-term financial goals. By following these steps and consistently investing, you'll be amazed at how those initial seeds of investment can blossom into a thriving financial future!While mutual funds online offer a fantastic path to long-term wealth building, you might also be curious about passively generating income in the short term. You can read on how to start investing in gold or even make money online without any investment.

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The 15 Best Ways to Save in 2024

The Best Ways to SaveAfter I completed my first degree in Microbiology, I was posted to Edo State, Nigeria, for National Youth Service. Honestly, I was excited to travel to another part of Nigeria. I was also excited because, for the first time, I would be earning as a graduate. My monthly remuneration would be 19,800 Nigerian Naira or $14. I was expected to live, give, and save from this stipend. Oh, I recall having to trek to my place of primary assignment a few times because I had to reserve money for my other running expenses. I could barely save, but I had to try. Soon after, adulting began to hit hard. I began to understand that financial success is beyond academic prowess. I had to learn how to earn enough and save regardless!Anyone who wants to have something to fall back on or build with when opportunities arise must save consistently. Adulthood in this economy is not for the weak!In this article, we will discuss the 15 best ways to save in 2024. We will learn simple and creative ways to ensure that our financial futures are not compromised by the state of the economy. Follow me.The Top 15 Saving Strategies in 2024BudgetingUser Interface of YNAB AppUndoubtedly, the habit of saving starts with creating a budget. By creating a budget, you can gain a clear understanding of your income, which will then inform your expenses and savings. Budgeting helps you to identify areas where you can reduce your spending and allocate more towards your savings goals, whether it be paying off debt or saving for a major purchase. Additionally, budgeting promotes accountability and discipline, which helps you stay on track with your financial goals. If you want to save in 2024 regardless, start by creating a budget. Check out different types of budgeting here.Automate Your SavingsAutomate Your SavingsThis is undeniably one of the best ways to save in 2024, and here's why: life can get hectic, and sometimes, our best intentions to save can get lost in the shuffle of daily expenses and distractions. By setting up automatic transfers from your checking account to your savings account, you're essentially removing the temptation to spend that money elsewhere. It's like paying yourself first before your other expenses have a chance to chip away at your savings goals. Also, automating your savings ensures consistency as you will save the same amount regularly without having to remember to do it manually each time. It is a simple yet powerful strategy that can significantly improve your financial well-being.Cancel SubscriptionsCanceling Subscriptions on an iPhoneSubscriptions have a sneaky way of accumulating, and those seemingly small monthly fees can add up to a substantial chunk of your budget. Canceling subscriptions is really about reassessing your priorities and redirecting funds to areas that align more closely with your financial goals. For example, think about the multiple streaming services you might be subscribed to. Sure, each service may only cost a few dollars a month. But when you're juggling multiple platforms, it quickly becomes a significant expense. For instance, canceling one streaming service that costs $10 per month can save you $120 annually. Multiply that by a couple of services, and you've got a noteworthy sum that could be better allocated elsewhere. There are also those gym memberships we tend to forget about. If you're paying for a gym you rarely visit, consider redirecting that money to home workout equipment or outdoor activities. You'll be surprised how much you can save while still staying fit and healthy. In summary, cancelling subscriptions is a simple yet impactful step towards achieving financial freedom in the ever-evolving landscape of personal finance.Prepare your mealsBatch CookingIf you want to save some money, cooking at home is an excellent option. Eating out can quickly lead to an empty wallet while preparing meals at home tends to be more cost-effective. Besides, home-cooked meals are often healthier since you have more control over the ingredients and cooking methods. To save better in 2024, try planning out your meals in advance, buying groceries in bulk and batch cooking.Practice Delayed GratificationShopping SpreeIn today's fast-paced world, where everything is available at the click of a button, developing the habit of delaying gratification can have a profound impact on your financial well-being. It is essential to differentiate between your needs and wants before making a purchase. You could take 24 hours to reflect before making an unplanned purchase. This pause can help you evaluate whether the purchase is necessary or something that can be put off. Often, the desire to buy subsides over time, and you may find that you can save a considerable amount of money by avoiding impulsive purchases.Smart ShoppingSmart ShoppingWhen you're planning to make a significant purchase, take some time to research and compare market prices. Don't settle on the first offer you come across. The first price is usually a false price! Look for discounts and promotions to ensure that you get the best possible value for your money. Additionally, consider purchasing thrift items instead of brand-new ones, as they can often be significantly cheaper and still in great condition. Making these few adjustments can help you save a lot of money in the long run.Tracking Your ExpensesExpense IQ Expense TrackerImagine going on a 10-hour road trip without Google Maps. You could end up lost or waste time, fuel and money. Similarly, without tracking your expenses, you are essentially navigating your financial journey blindly. By meticulously recording your purchases, you gain invaluable insight into your spending habits. This clarity allows you to identify areas where you can cut back or make more mindful choices. It's like shining a light on your finances, revealing opportunities to save that may have otherwise gone unnoticed. Plus, with the plethora of budgeting apps and tools available today, tracking expenses has never been more convenient. So, if you're serious about saving money in 2024, consider tracking your expenses a priority.Paying Off DebtsDebt RepaymentWhen you carry debt, you're not just paying back what you borrowed; you're also shelling out extra money in the form of interest. High-interest debts, like credit card balances or personal loans, can eat away at your finances, leaving you with less money to save or invest in the long run. By prioritizing debt repayment, you're essentially saving yourself from paying unnecessary interest fees, freeing up more of your income for future savings goals. Plus, once you're debt-free, you can redirect those payments towards building your emergency fund, investing for retirement, or achieving other financial milestones. So, while it may not seem as flashy as investing in the stock market or saving for a dream vacation, paying off debts is a solid foundation for building a healthier financial future.Negotiate Your BillsAfrican Mother Negotiating in an Open MarketAfrican mothers are experts in negotiation. It worked in their time, and it still works! Many open market sellers and service providers, such as internet providers and insurance companies, are often willing to offer discounts or incentives to retain customers.By taking the initiative to negotiate, you can potentially lower your bills and free up more money to put towards your savings goals. It's a simple yet effective way to make your hard-earned money last in today's economy.InvestInvest by Austin DieselUnlike traditional savings accounts, which typically offer low interest rates that struggle to keep pace with inflation, investing allows your money to work harder for you. By spreading your funds across a range of diverse assets like stocks, bonds, real estate, and commodities, you can reduce risk and increase your chances of earning higher returns in the long run.What's more, investing has never been more accessible or cost-effective, thanks to advancements in technology. You can start with small amounts and gradually build your investment portfolio over time.However, it's crucial to educate yourself, seek professional advice, and stay up-to-date on market trends before making any investment decisions. This way, you can make informed choices that align with your risk appetite and financial goals.Building an Emergency FundEmergency FundBuilding an emergency fund is like creating a financial safety net for unexpected expenses or crises that life may throw your way. It involves setting aside a specific amount of money in a readily accessible account, typically equivalent to three to six months' worth of living expenses. Unlike regular savings, which are often earmarked for specific goals or purchases, an emergency fund is reserved exclusively for unforeseen circumstances, providing peace of mind and financial stability during challenging times. You can start by setting a realistic goal for your fund, aiming for at least three to six months' worth of living expenses. Then, commit to consistently saving a portion of your income each month until you reach that target. Small, regular contributions can add up over time to provide peace of mind when you need it most.Maximizing Employee BenefitsEmployee BenefitsMaximizing employee benefits isn't just about understanding what's offered; it's about strategically leveraging those offerings to optimize your financial well-being in 2024 and beyond. Companies commonly provide employees with benefits such as healthcare coverage, retirement plans and professional development opportunities. With the changing landscape of employment and evolving market trends, companies typically modify their benefit packages to stay competitive. By staying informed about these changes, you can take advantage of new offerings or negotiate for better terms that could result in cost savings or enhanced coverage.Reviewing Your Banking OptionsReviewing Your Banking OptionsHave you ever gone through your bank statement only to find ridiculous fees, such as bogus SMS charges, unexplained money losses, coupled with really small interest? If this is true for you, you may need to change banks! In order to maximize your savings, it's important to periodically review your banking options. By so doing, you can minimize fees, maximize interest earnings and take advantage of promotions or incentives offered by banking options that align with your financial goals.Getting a Side HustleGetting a Side HustleYes, yes, I know getting a good job may be tough, not to talk of a side hustle. But really, it is possible! Think of your main income as the stream that covers your essential expenses and meets your financial obligations. Then, think of your side hustle as the stream that allows you to save more and enjoy your life. Whether it is a small business, freelancing, tutoring or selling services online, investing your spare time in a side hustle not only diversifies your income but could be the key to substantial savings in this economy. If you can get one, please do!Jump on a Savings Challenge52-Week Money ChallengeJumping on a savings challenge is a great way to save in 2024 because it adds an element of fun and motivation to your saving journey. For instance, you could jump on the "52-Week Money Challenge," where you save a specific amount each week corresponding to the week number (e.g., $1 in week 1, $2 in week 2, and so on). By the end of the year, assuming you are faithful to the process, you'll have saved $1,378. If you are struggling to save, particularly due to unaccountability, you should jump on a savings challenge!Will You Save Better?Saving is not an easy task, but it is necessary for a brighter future. We cannot continue to blame the economy for our failure to save. In fact, the economy should be the driving force behind relentless savings.While it is unlikely that you will apply all the best 15 ways to save in 2024, you should apply some. When all is said and done, will you save more in 2024?

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The Top 10 Free Expense TrackersIn this article, we will discuss about the top 10 free expense trackers in 2024. Follow me.Have you ever tried to fetch water into a leaking bucket? I have. It was an utter waste of time and water. Earning without tracking your expenses is like fetching water into a leaking bucket. The water eventually wastes! Similarly, your income eventually wastes if you don’t track your expenses. The first sign that you are ready to manage your income effectively is expense tracking. Expense tracking is the meticulous practice of studying and recording how you spend your money, so as to inform your future expenses and savings. It is the next financial step to take after making a budget. Just like budgeting, expense tracking in 2024 has become easier due to applications called expense trackers. These apps provide ingenious methods of computing, monitoring and curtailing expenses. Although some expense trackers are specifically designed for expense tracking, some personal finance apps or budgeting apps double as expense trackers too.Now, since these apps provide much financial value, many of them are not free to use. However, after extensive research and comparison of many expense trackers, this article reveals the top 10 free expense trackers in 2024. All 10 apps have paid versions; however, they offer premium expense tracking even in their free versions. Let us dive in!The 10 Free Expense TrackersPocketGuardUser Interface of PocketGuardPocketGuard is an all-in-one finance management tool that offers expense tracking, budgeting, bill monitoring, savings goals and personalized financial insights.You can access most of its features without purchasing a premium subscription or making in-app purchases. However, if you require additional functionality, such as automated bill tracking, custom categories, priority assistance, and an ad-free experience, you may need to pay a monthly subscription.PocketGuard automates the process of tracking expenses by securely syncing with your bank accounts, credit cards and other financial institutions. This eliminates the need for you to manually document your transactions, so you can always have an accurate and up-to-date view of your financial transactions.However, in comparison to other expense-tracking applications, PocketGuard offers fewer customization options. Also, some customers say the premium features are a bit pricey.PocketGuard is available for download on both iOS and Android devices at no charge. It has a 3.7 Google Play rating and a 4.6 Apple Store rating.GoodbudgetUser Interface of GoodbudgetGoodbudget is a simple yet powerful budgeting app that digitizes the “old-but-gold” concept of envelope budgeting. With Goodbudget, you create virtual envelopes for various spending categories, allocate funds accordingly, and only spend money from each envelope as needed.You can track your expenses, make budgets, envelope balances, set savings goals, sync across devices and even share your envelopes with family members.Goodbudget has a paid version known as Goodbudget Plus, which offers additional benefits, such as an unlimited number of virtual envelopes, automatic syncing with financial accounts, an ad-free experience, priority support and more detailed financial reports. However, its free version is very capable of routine expense tracking and budgeting.One of Goodbudget's drawbacks is that the free version does not allow you to connect your bank accounts, so you would have to manually enter your transactions on-the-go. Also, if you compare the app's user interface to other expense-tracking applications, it is a bit outdated.Goodbudget is available for download on both iOS and Android devices at no charge. The app has a 4.4 rating on Google Play and a 4.6 rating on AppStore.Wally Expense TrackerUser Interface of Wally Expense TrackerWally is an intuitive and highly secure personal finance app that offers features for expense tracking, budgeting, goal setting and financial insights.At its core, Wally simplifies expense tracking by allowing you to manually input transactions or scan your receipts using your phone. Then, it automatically categorizes your expenses and provides basic visual financial reports, which helps you know where your money is going and identify expenses to cut back. In addition to expense tracking, Wally offers sophisticated budgeting tools that can help you set and track your spending limits for different expense categories.Wally also allows you to set savings goals for major purchases or specific goals. You can even track your progress towards these goals and receive insights on how to achieve them much faster.It has a premium version, Wally Gold, which automatically syncs bank accounts, allows for custom expense categories, and provides advanced reports, priority support and an ad-free experience. However, while you cannot enjoy automatic syncing and whatnot on its free version, your expenses are still properly tracked.Wally is available for download on both iOS and Android devices. The app has a 4.2 rating on the Apple Store and a 2.2 rating on the Google Play Store.Buxfer Expense TrackerFeatures of Buxfer Expense TrackerBuxfer is a personal finance management app that offers a range of features to help you track expenses, budget, manage debt and plan for the future. The app has an intuitive interface, tight security and customizable options.Buxfer simplifies expense tracking by allowing you to manually enter your transactions or automatically sync your financial accounts, including bank accounts, credit cards, and investment accounts, such that you can view all your financial transactions at a glance and understand your spending habits.It offers robust budgeting tools that allow you to set spending limits for different categories, track your progress and receive alerts when you approach your budget limits. Buxfer even provides you with tools for managing debt and setting up repayment plans.You would also receive basic reports on income, expenses, assets, liabilities, and net worth to help you make informed decisions about your finances and plan for your bright future.While the free version of Buxfer offers expense tracking, budgeting and debt management tools, Buxfer Plus, its paid version, provides additional features like automatic bank syncing to unlimited accounts, advanced budgeting tools, enhanced reporting and priority support.Buxfer is available for download on both iOS and Android devices. It has a 3.5 Google PlayStore rating and a 4.2 rating on the Apple Store.Honeydue Expense TrackerUser Interface of Honeydue Expense TrackerCouples looking to manage their finances jointly may opt for Honeydue, an intuitive finance app that helps partners track their expenses, make budgets together, set savings goals, repay their debts and stay informed about each other's financial activities.Honeydue allows couples to connect their bank, credit card, and other financial accounts to it for free. This allows both couples to view their joint financial activities in one place, giving them a clear picture of their combined spending habits and financial responsibilities. Honeydue also has features for managing shared expenses, tracking their debts, splitting costs and settling payments seamlessly. It categorizes expenses and flags any disparities or odd expenses by either partner. Financially irresponsible partners are exposed! Lol.While the free version of Honeydue includes essential features like expense tracking, bill reminders, shared lists, and communication, the paid version, Honeydue Plus, provides additional benefits such as custom categories, advanced bill reminders, transaction search, enhanced security, and priority support.Honeydue is available for download on both iOS and Android devices. It has a 3.5 Google PlayStore rating and a 4.5 rating on the Apple Store.Expense IQUser Interface of Expense IQExpense IQ is a user-friendly and all-in-one financial solution for expense tracking, budgeting, debt management and financial analysis. It allows you to manually input your transactions, categorize your expenses and monitor your spending habits over time.Its stand-out feature is its robust budgeting feature. With Expense IQ, you can make personalized budgets for your different expense categories. The app would send you notifications when you are approaching or exceed your budget limits, thereby promoting wise spending.Expense IQ also offers comprehensive debt management features, so you can input and track your debts, such as loans and credit card balances, and set up efficient repayment plans.It also has a paid version known as Expense IQ Premium. While the free version of Expense IQ offers essential features for expense tracking, budgeting, and debt management, Expense IQ Premium provides additional benefits such as automatic transaction importing, advanced budgeting tools, enhanced debt management features, detailed reports and analytics and priority support.Expense IQ has a 4.2 Google Play rating. For some reason, it is not available on the Apple Store.SpendeeUser Interface of Spendee Expense TrackerSpendee is a user-friendly personal finance app that helps people manage their money efficiently. It has various tools for expense tracking, budgeting and financial analysis, making it easier for users to take control of their finances.With the free version of Spendee, you can input your transactions manually and see all your expenses in one place. You also can use the app's budgeting and savings goals tools to plan your finances effectively. Spendee ensures that all your sensitive information is protected with encryption and security measures, so you can trust the app.If you want more advanced features, Spendee Premium offers automatic bank syncing to unlimited accounts, advanced budgeting tools, enhanced financial reports and analytics and priority support. Spendee is available for download on both iOS and Android devices. Spendee has a 4.1 rating on Google PlayStore and a 4.7 rating on the Apple Store.Toshl FinanceUser Interface of Toshl FinanceToshl Finance is a personal finance app that helps you track your expenses, set budgets and analyze your finances. It is user-friendly and offers both manual input of transactions and automatic syncing of bank accounts and credit cards to help you curb their spending and save money. Additionally, Toshl Finance provides features like bill reminders, currency conversion, financial insights, goal-setting tools, analytics and visualizations to motivate you to achieve your financial goals.While the free version offers essential features for tracking expenses and basic budgeting, the paid version, Toshl Pro, provides additional benefits like unlimited budgets and categories, advanced budgeting tools, enhanced reporting and insights, and priority support. However, this version is relatively expensive.Toshl Finance is available for download on both iOS and Android devices. Toshl Finance has really good ratings on both Google PlayStore (4.4) and Apple Store (4.7).ExpensifyUser Interface of ExpensifyExpensify is a comprehensive expense management tool that simplifies the hassle of managing expenses, particularly for businesses and individuals who need to track their spending, organize receipts and streamline expense reporting. At its core, Expensify is all about tracking expenses efficiently. Whether it's a takeout, business trip or office supplies, you can effortlessly record their expenses by snapping photos of receipts or manually entering your transaction details.But Expensify goes beyond expense tracking. It has a slew of features that simplify expense management, such as categorizing expenses, tagging them with relevant information, and assigning them to specific projects or clients.Expensify also has features designed specifically for businesses and organizations, such as corporate credit card reconciliation and integration with popular accounting software like QuickBooks and Xero. It also simplifies the reimbursement process for employees by offering direct deposit reimbursement.While the free version of Expensify offers expense tracking and premium reporting features, Expensify Premium provides additional benefits such as automatic receipt scanning, advanced reporting, unlimited integrations, policy enforcement, and priority support. Notable drawbacks of Expensify include its complex interface and multiple limitations in the free version.Expensify is available for download on both iOS and Android devices. It has high ratings on both Google Play (4.2) and Apple Store (4.7). Zoho ExpenseUser Interface of Zoho ExpenseZoho Expense is a user-friendly expense tracking and management software designed to simplify the process of managing business expenses. It has a comprehensive suite of tools that streamline expense reporting, automate reimbursement workflows and provide valuable insights into company spending.One of the key features of Zoho Expense is its seamless integration with other Zoho applications, such as Zoho Books and Zoho CRM. This integration allows you to sync expense data with other business processes, such as accounting and customer relationship management, creating a cohesive and efficient workflow across the organization.In addition to expense tracking, Zoho Expense provides powerful analytics and reporting tools that you can use to identify cost-saving opportunities, optimize budgets and make informed financial decisions in your business.The free version of Zoho Expense offers basic expense tracking and reporting features. However, Zoho Expense Premium provides additional benefits such as automatic expense capture, advanced reporting, enhanced integration options, policy enforcement features and priority user support.Zoho Expense is available for download on both iOS and Android devices. It has high ratings on both Google Play (4.6) and Apple Store (4.8). Are You Ready to Take Control?It may seem tough to choose the most appropriate expense tracker for you. However, you can start by carefully considering your financial needs and inclinations to determine if you need a simple and intuitive expense tracker or a comprehensive finance app. This article reveals the simple and complex expense trackers. Then, from among your preferred category, try one app first. If it does not suit you, try another. Rest assured, regardless of your preference, your answer is likely among these ten.

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How to Make a Budget Using Google SheetsI am certain that if making a budget were unnecessary for maximizing income, many of us would care less about it. Even now, though many people are aware that budgeting is necessary to make the most of their finances, they refuse to, especially for small amounts of money. So, I congratulate you for taking the bold step to read this article. It could be the beginning of a smoother sail in your finances!Making a budget can be a daunting task especially if you are using pen and paper. However, with the advent of relevant tools and budgeting apps, budgeting has been made easy for the layman. Google Sheets is an online spreadsheet by Google used for creating, editing, and collaborating on spreadsheets online. Unlike the traditional Microsoft Excel, which has to be used by a single user per time, Google Sheets can be used via the Internet by multiple users at a time.Just like Microsoft Excel, Google Sheets can be used to create automated tables and charts using common mathematical formulas. This feature is very useful, particularly in making budgets, which typically require lots of basic mathematics.This article provides a step-by-step guide on making a budget using Google Sheets. It is friendly for “dummies.” Let’s plunge in!Two Methods of Making a Budget Using Google SheetsThere are two primary methods for making a budget using Google Sheets:- Making a Budget Without a Google Sheets Budget Template: You could make a budget from scratch and tailor it to your personal needs while still including the fundamental aspects of a budget, such as income and expenses.- Making a Budget With a Google Sheets Budget Template: You could make a budget by using a Google Sheets budget template, such as the Monthly Budget Template or the Annual Budget Template. You simply need to edit the placeholder values in the template for your own use.Making a Budget Without a Google Sheets Budget TemplateIf you choose to make a budget on Google Sheets from scratch, here are some important steps to take:Step 1: Setup Your SpreadsheetSet Up Your Spreadsheet- In the case that you have not, download the Google Sheets application from Google Play or App Store. - Launch Google Sheets and sign up using your email address and password. If you have already signed up, sign in instead.- Click on the plus icon to create a new spreadsheet.- Title your spreadsheet appropriately, using a specific name such as “April 2024 Budget.”- Create the appropriate column headers for important elements of your budget, such as:- Column 1: Expense Categories- Column 2: Planned Expenses (Currency)- Column 3: Actual Expenses (Currency)- Column 4: Income Categories- Column 5: Amount Earned (Currency)Step 2: Categorize Your Income and ExpensesCategorize Your Income & Expenses- Classify all your income and expenses. That is, group your income by source and your expenses by type. For example, if you were a new wife who worked 2 jobs and got an allowance from your husband, you could classify your income as Salary from Job 1, Salary from Job 2 and Honey’s Allowance. On the other hand, you could categorize your expenses into Housing, Transportation, Debt Repayment, Feeding, Utility Bills, Entertainment, etc. - In column 1 for Expense Categories, write all your categories of expenses.- In column 4 for Income Categories, write all your types of income. This categorization will help you organize your finances and track where your money is going each month.Step 3: Write Your Projected Income & ExpensesWrite Your Projected Income & Expenses- Fill out column 5 for Amount Earned (Currency) with the expected amounts of money you will earn per income category.- Fill out column 2 for Planned Expenses (Currency) with the estimated amount of money you will spend per expense category. It is important to be both realistic and conservative when estimating your expenses to avoid overspending. To get a more accurate estimate of your monthly expenses, you can review your previous bank statements and consider your typical spending habits. Step 4: Calculate Your Budget TotalsCalculate Your Budget TotalsWith your income and expenses recorded, the next step is to calculate your budget totals. - Sum your total estimated expenses at the bottom of the Planned Expenses column using the sum function =SUM(B2:B8).- Also, sum the total estimated income at the bottom of the Amount Earned column using the sum function =SUM(E2:E8).- Subtract your total estimated expenses from your total estimated income to determine your disposable income and savings for the month. Ideally, you should have more income than expenses, as this is the first goal of budgeting. But if your expenses exceed your income, you should reevaluate your spending habits and cut back on your expenses.Step 5: Track Your ExpensesTrack Your ExpensesUpdate the spreadsheet with your actual expenses as they occur throughout the month under the Actual Expenses (Currency) column.For added convenience, you can also sync your budgeting apps or banking tools with your budget spreadsheet.Step 6: Review Your BudgetIf you review your budget regularly, such as monthly or quarterly, you will discover patterns of spending and opportunities to save better. Easy peasy, right? Making a Budget With a Google Sheets Budget Template Now, let’s learn about the second method of budgeting using Google Sheets.Making your budget with a Google Sheets Budget Template is simple since you only need to appropriately update the placeholder values. However, it may seem challenging if you edit the cells in the spreadsheet incorrectly. For example, in a Google Budget template, you should not alter cells that are not highlighted or that include formulas. Also, if you need extra rows, you must copy existing rows in the sheet rather than simply adding new rows; otherwise, the automated functions will not cover the erroneously added rows.All of this may sound like jargon, but it is quite simple to use. If you can follow these crucial steps and carefully read the instructions and prompts in your spreadsheet, you can use it.Step 1: Set Up Your SpreadsheetSet Up Your Spreadsheet- In the case that you have not, download Google Sheets from Google Play or App Store. - Launch Google Sheets and sign up using your email address and password. If you have already signed up, sign in instead.- If you are using a phone, click the plus icon and select, “New Template.” Then, choose the “Monthly Budget Template.” If you are using a laptop, simply choose the “Monthly Budget Template” from the Google Sheet Template Gallery.- Title your spreadsheet appropriately, using a title such as “Sample Budget.”Step 2: Customize the Summary Sheet Customize the Summary Sheet The Google Monthly Budget Template spreadsheet contains two sheets: the summary and the transactions sheet. We will first customize the summary sheet. On the summary sheet,- First, change the starting balance (cell L8), sample home expense (cell D31) and sample paycheck (cell J29) to zero.- Next, customize the expenses column according to your expenditure. For example, you may change Personal (cell B33) to Wardrobe.- If you have more expense categories, copy the last row at the bottom (row 41), replicate it for as many rows as you need, and rename the categories accordingly.Step 3: Edit the Transactions Spreadsheet Edit the Transactions Spreadsheet- Open the transactions sheet. You will find sample expenses and income values. Simply delete the values only.- You may add more rows at the bottom of the sheet since the default transactions sheet contains only 31 rows.- If you added more categories to your expense categories on the summary sheet, you need to confirm that all the categories reflect on the transactions sheet:- Highlight the first cell under Category under Expenses (E5) and right-click.- If all your added categories reflect, skip to step 5. If not, please do not skip.- Under the Data Menu, select, “Data Validation.”- Select, “Value contains one from range”- Click on “Select the data range”- Change the last two numbers in the data range to match the last two numbers of the cell of the last expense category on your Summary spreadsheet.- Select, “Done”.- Confirm that all your categories are reflected in the transactions spreadsheet.Step 4: Write Your Planned Expenses and Planned Income in the Summary SheetWrite Your Planned Expenses and Planned Income in the Summary SheetRecord your planned expenses and planned income in the appropriate columns on your summary sheet. Of course, your total expenses should be reviewed if it is higher than your total planned income.Step 5: Log in All Your Transactions on the Transactions SheetLog in All Your Transactions on the Transactions SheetWhen you log in your actual expenses on the transaction sheet and categorize them appropriately, it reflects automatically on the summary sheet. It is important to log in your expenses on the go for accurate documentation of your expenses. Also, a quick glance at your updated summary sheet reveals what quick adjustments you can make to your budget.Step 6: Track Your Expenses Throughout the MonthTrack Your Expenses Throughout the MonthOn the summary sheet, you will find a clear overview of your:- Starting balance- Ending balance- Planned expenses- Actual expenses- Planned income- Actual incomeYou can use this information to improve your spending habits, reduce your expenses, and grow your savings and investments.Will You Try Budgeting Using Google Sheets?You've now learnt how to use Google Sheets to create budgets, both with and without templates. Will you try it out? If yes, which method will you use?

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The 7 Best Budgeting Apps: Pros & Cons

The Use of Budgeting AppsToday, we will discuss about the 7 best budgeting apps, but before we kick off, let me share an adage which necessitates this article.My elementary school teachers regularly said an adage which is now ingrained in my consciousness. The saying goes, “If you fail to plan, you plan to fail.” How true! Nobody plans to struggle to pay bills after working a 9-to-5 for a month, but it happens, especially when people do not plan.Managing finances can be a daunting task, but it is critical because unplanned finances lead to a poor quality of life. On the other hand, planned finances could make an average income earner seem well-to-do. Anyone who will thrive must live within a budget.We live in the digital age, where budget management has been made easy by technology. Now, budget management can change from strenuous brain activity to a “one-swipe-away” kind of activity. With the advent of budgeting apps, you can conveniently set financial goals, track your expenses and stay within a budget. Now, you probably want to know what budgeting app to use for a seamless budgeting experience, especially if you have zero-to-little knowledge about budget management.In this review, we will delve into the 7 best budgeting apps worldwide. From user interface to features, we will explore what makes each app unique and how it can help you take control of your finances.The 7 Best Budgeting AppsYNAB (You Need a Budget)User Interface of YNAB Budgeting AppThe YNAB app takes a proactive approach to budgeting, emphasizing the importance of allocating every dollar. It allows users to allocate funds to specific categories, such as groceries, bills and entertainment, thereby promoting mindful spending. YNAB also provides educational resources and live workshops to help users master budgeting.Why Does YNAB Rank Among the Top 7 Apps for Budgeting?- YNAB emphasizes the importance of maximizing every dollar earned and living on the previous month's income.- It provides valuable educational resources to help users grow in financial literacy.- It provides robust community support through forums and social media channels which fosters accountability and motivation.The Drawbacks of the YNAB Budgeting App- Its complimentary learning curve may be steep for new users.- It requires a subscription fee which might put off budget-conscious people, although many users argue that the benefits outweigh the cost.PocketGuardUser Interface of PocketGuard Budgeting AppPocketGuard simplifies budgeting by providing an overview of users' finances in one place. It categorizes expenses, tracks bills, and assists users in identifying opportunities to save. One distinguishing feature is its ability to analyze recurrent expenses and recommend potential savings, making it an excellent choice for anyone looking to improve their spending habits.Why Does PocketGuard Rank Among the Top 7 Apps for Budgeting?- PocketGuard simplifies budgeting by categorizing expenses, tracking bills, and identifying opportunities for saving.- Its "In My Pocket" feature calculates how much disposable income users have after deducting their bills and savings.- Users can set customizable spending limits and receive notifications to stay on track.The Drawbacks of PocketGuard Budgeting App- The free version has significant limitations compared to the premium subscription, including the inability to track cash transactions or link investment accounts.- Some users have reported technical glitches such as duplicate transactions.GoodbudgetUser Interface of Goodbudget Budgeting AppGoodbudget uses an envelope budgeting system, which allows users to allocate their money to virtual envelopes for different spending categories. It raises awareness about spending habits and encourages users to prioritize their financial goals. While its manual input may turn off some users, its emphasis on mindful spending is commendable.Why Does Goodbudget Rank Among the Top 7 Apps for Budgeting?- Goodbudget’s envelope budgeting system allows users to allocate their money to different spending categories and track their expenditures accordingly.- Its sync feature encourages accountability and shared budgeting among family members or housemates.The Drawbacks of Goodbudget Budgeting App- The free version has limitations on the number of envelopes and accounts, which may be insufficient for users with complex financial situations.- Some users find the interface outdated compared to other budgeting apps because it has fewer modern features.Personal CapitalUser Interface of Personal Capital Budgeting AppPersonal Capital integrates budgeting tools with investment management, catering to users to customers who want to attain long-term financial goals. In addition to creating budgets and tracking expenses, it provides investment advice, retirement planning and net worth tracking. While designed for investors, its budgeting capabilities are user-friendly and robust.Why Does Personal Capital Rank Among the Top 7 Apps for Budgeting?- Personal Capital offers robust portfolio analysis and fee optimization solutions.- It provides a full picture of your net worth by aggregating all your financial accounts and assets.- It also offers personalized financial advice and access to certified financial planners.The Drawbacks of the Personal Capital Budgeting App- The budgeting features are not as comprehensive as those offered by dedicated budgeting apps like Mint or YNAB.- Some users may find its interface overwhelming due to many features and data.EveryDollarUser Interface of EveryDollar Budgeting AppEveryDollar, like YNAB, uses a zero-based budgeting strategy in which each dollar is assigned a specific purpose. It allows users to create custom budgets, track expenses and monitor their progress towards their financial goals. Why Does EveryDollar Rank Among the Top 7 Apps for Budgeting?- EveryDollar uses a zero-based budgeting approach which encourages mindful spending.- It has a relatively simple and intuitive user interface.- Subscribers gain access to additional features such as bank account syncing and priority customer support.The Drawbacks of EveryDollar Budgeting App- The free version lacks significant features available to premium subscribers, limiting functionality for some users.- Automatic transaction syncing is only available for subscribers with a paid subscription, which may put off budget-conscious individuals.WallyUser Interface of Wally Budgeting AppWally offers a minimalist yet effective approach to budgeting, with features such as expense tracking and receipt scanning. Its user-friendly design allows for a hassle-free budgeting experience. Wally also supports multiple currencies, making it ideal for international users.Why Does Wally Rank Among the Top 7 Apps for Budgeting?- Wally’s minimalist interface makes it easy to input expenses and track spending habits on the go.- Users can take photos of receipts for easy expense logging, thereby eliminating the need for manual data entry.- Wally supports multiple currencies which is attractive to international clients.- Wally provides insights into spending patterns through visualizations and reports.The Drawbacks of the Wally Budgeting App- Wally has limited budgeting features compared to other apps. For instance, there is no feature for setting savings goals or tracking debt.- Some users have reported occasional bugs or crashes, especially after software updates.HoneydueUser Interface of HoneyDue Budgeting AppHoneydue, the “lovers’ budgeting app,'' is designed for couples to manage their finances jointly and stay updated about each other's financial activities. It fosters transparency and communication around money matters, helping couples work towards common financial goals.Why Does Honeydue Rank Among the Top 7 Apps for Budgeting?- Honeydue allows partners to manage their finances and set financial goals together.- It facilitates communication between partners by providing real-time spending reports and bill reminders.- Users also appreciate the privacy features that allow them to hide specific transactions from their partners.The Drawbacks of the Honeydue Budgeting App- Some users find its interface complex and overwhelming, especially when managing multiple accounts and transactions.- Honeydue's limited integration with financial institutions outside of the United States of America limits its value to international couples.Mint: The Best, or Not?User Interface of Mint Budgeting AppAt the moment, Mint seems to be people’s favorite budgeting app because of its user-friendly interface and comprehensive features. With Mint, all of your financial information—bank accounts, credit cards, loans and investments—are conveniently consolidated in one location. Mint presents customizable budgeting tools which allow users to set financial goals and receive alerts when they exceed their spending limits. It also sends bill reminders.If you are familiar with budgeting apps, you may have wondered why Mint did not come up until now. Well, here is why. According to its owner, Mint will shut down on March 23, 2024, and will be absorbed by Credit Karma. Although Mint is the current favorite budgeting app, it may not exist in a bit. Hence, it is not among the 7 best budgeting apps in our books.Ready to Choose Your Budgeting App?Each of the top 7 budgeting apps caters to different people with different needs. When choosing a budgeting app, you need to carefully consider important factors, such as the subscription cost, the security, and the user interface.This review subtly reveals that not all budgeting apps offer significant value without subscriptions. Some budgeting apps do not automatically sync user’s financial accounts. Some budgeting apps do not have user-friendly interfaces, which can be especially annoying on mobile view. Also, not all budgeting apps have military-grade security, such as 256-bit and multi-factor authentication. So, among the best, choose wisely and choose early. Remember, “if you fail to plan, you plan to fail.”

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How to Budget Money Using the 50/30/20 Rule

Budgeting is paramount when it comes to managing your finances. Basically, it's about planning your income, expenses, and savings. Without a budget, you're likely to spend your money without any real plan, and you won't be able to keep track of where it's all going. This can lead to a lot of expenses that you might not even be aware of, which can really mess up your finances and leave you in debt. That's why budgeting is key to keeping your finances stable and secure.In this article, we will discuss how to budget your money using a simple yet powerful technique known as the 50/30/20 rule. Immerse yourself into this article, as we journey towards your financial freedom. Ready, set, go!What is the 50/30/20 Rule?Imagine your income as a mouth-watering cake that consists of three flavors: red velvet, chocolate, and vanilla. Let's say you absolutely love the red velvet flavor, so it makes up half of your cake. The chocolate flavor is your next favorite, so it makes up 30% of your cake. Vanilla is not your favorite, but your mother likes it. So, to make her happy, one-fifth of your cake is vanilla flavor.When your cake arrives, you cut it into neat portions, each with its respective flavor, to enjoy every bite to the fullest. The red velvet flavor portion of your cake represents 50% of your income. The chocolate flavor portion of your cake represents 30% of your income. Finally, the vanilla flavor portion of your cake represents 20% of your income. This cake analogy represents the 50/30/20 rule.The 50/30/20 rule, also known as the "balanced money formula," suggests allocating 50% of your after-tax income to needs, 30% to wants, and 20% to savings and debt repayments.The 50/30/20 rule is often attributed to Senator Elizabeth Warren and her daughter, Amelia Warren Tyagi, who elucidated the rule in their book, "All Your Worth: The Ultimate Lifetime Money Plan.” However, it is worth noting that while they popularized this rule, its principles have been advocated by various financial experts before their book was published.Brief Digression into Other Budgeting RulesYou may not be familiar with other budgeting rules. Here is a quick rundown of a few other budgeting rules besides the 50/30/20 rule.- Zero-Based Budgeting: In this method, every dollar of your income is assigned a specific purpose, such as expenses, savings, or debt repayment. The goal is to "zero out" your budget so that your income minus your expenses equals zero. It requires meticulous tracking and planning but can be very effective in controlling spending and maximizing savings.- Envelope System: This is a cash-based budgeting method where you allocate a certain amount of cash to different categories, such as groceries, entertainment, transportation, and place each amount in separate envelopes. Once an envelope is empty, you stop spending in that category for the month. It's a tangible way to stick to your budget and avoid overspending.- Percentage-Based Budgeting: Similar to the 50/30/20 rule, this method involves allocating percentages of your income to different categories, but the ratios may vary based on your priorities and financial goals. For example, you might allocate 25% to housing, 15% to transportation, 10% to savings, and so on.- Pay Yourself First: This strategy involves prioritizing savings by setting aside a portion of your income as soon as you receive it, before paying any bills or expenses. This ensures that savings become a non-negotiable part of your budget and helps you build wealth over time.- Bi-Weekly Budgeting: Instead of budgeting on a monthly basis, some people prefer to manage their finances based on their bi-weekly paychecks. This can help align your budget more closely with your actual cash flow and make it easier to track expenses throughout the month.The 50/30/20 Rule ExplainedAlright, let us dive back into the heart of this article. We're going to take a closer look at the 50/30/20 rule and really break down how to allocate your resources.How to Budget Using the 50-30-20 Rule50% Allocation to Needs“Needs” refer to the essential requirements for day-to-day survival, such as air, water, food, sleep, clothing, shelter, income, and so on. According to Maslow's hierarchy of needs, people must first satisfy their basic physiological needs, such as food, clothing, and shelter, before they can fulfill their self-actualization needs, such as morality, purpose, and acceptance. This is largely true because only a person who is physically healthy can resist the immoral temptation of theft or seek to fulfill destiny.Needs vary from person to person, based on various factors, such as age, location, and health status. For instance, a pregnant woman may require monthly hospital visits as a necessity, while a healthy man in his prime may not need to visit a hospital for months.The 50/30/20 rule recommends that half of your income after taxes should cover your monthly needs. If 50% of your income cannot meet your needs, it may be a sign that your current phase of life requires more money than you are making.30% Allocation to Wants"Wants" refer to the things we desire or crave but do not need for survival. They are the extras, the cherry on top of life's sundae. Wants to encompass a wide range of goods, services, experiences, and indulgences that bring us pleasure, entertainment, or convenience. These can include dining out at fancy restaurants, splurging on designer clothes, treating ourselves to luxurious vacations, or enjoying entertainment like movies or video games. Wants to enhance our quality of life and make it more enjoyable, but they're not essential for our survival or well-being.Although wants may appear to be lavish expenses, they can actually overlap with your needs category by including any desired upgrades to your basic necessities. However, the 50/30/20 rule suggests that these upgrades remain within the confines of 30% of your income.For example, a black lady doctor may need to purchase a “work-wig” because she cannot make time to constantly manipulate her hair into pretty weaves. She may upgrade her need by planning to buy a 10” Vietnam raw donor bone straight wig, instead of a 10” China human hair blend wig. However, if this 10” Vietnam raw donor bone straight wig is 5 times her 30% allocation for wants, she may need to purchase the China 10” human hair blend wig instead or pay in installments for a 10” Vietnam raw donor bone straight wig.20% Allocation to Savings & Debt RepaymentSavings are like a financial safety net, a stash of money that you set aside for the future. It is the portion of your income that you don't spend right away but keep aside for emergencies, big purchases, or long-term goals. Savings can come in different forms, like putting money into a savings account, investing in stocks or bonds, or contributing to a retirement fund. Whether it's for unexpected expenses, a dream vacation, or building a nest egg for the future, savings give you peace of mind and financial security. Saving is also important for debt repayment. It would be inconsiderate to lavish money on your wants, such as a 10” Vietnam raw donor bone straight wig, yet ignore the repayment of a business loan you took from LAPO Microfinance Bank.Anyone who earns should save. Even children should be taught to save, so they do not grow to be irresponsible adults. The 50/30/20 rule teaches you to save 20% of your income to secure your financial future and repay your debts.Hypothetical Application of the 50/30/20 RuleHypothetical Application of the 50-30-20 RuleSuppose you are a young Muslim guy who earns 150,000 Nigerian Naira (NGN) per month. Well, this is not a lot of money in relation to the United States Dollar, but Master’s Degree Holders in Nigeria earn this, so let's work with it.Dividing your income according to the 50/30/20 rule, we have the following:- 50% of your income is 75,000 NGN.- 30% of your income is 45,000 NGN.- 20% of your income is 30,000 NGN.Your needs are:- Housing: 20,000 NGN- Transportation: 25,000 NGN- Feeding: 25,000 NGN- Total: 75,000 NGNThis makes up exactly 50% of your income. However, if your needs slightly exceed 75,000 NGN, it would be reasonable as the 50/30/20 rule is not cast in stone.Your wants are:- A clean haircut: 1,000 NGN- A fake Apple earpiece: 2,000 NGN- Parent’s allowance: 10,000 NGN- Fiancee’s allowance: 10,000 NGN- Restaurant Date: 7,000 NGN- Total: 30,000 NGNThis makes 20% of your income, as opposed to 30%. As a wise chap, you can save the extra 10% for unforeseen circumstances in Nigeria.Your savings:- Savings account: N45,000This makes 20% of your income, as opposed to 30%, which is applaudable.Pros of the 50/30/20 RuleHere are some perks of following the rules for budgeting:- Simplified Budgeting: The 50/30/20 rule is a user-friendly way of budgeting that is easy to comprehend, making it ideal for beginners.- Spending Flexibility: It allows you to have some flexibility in spending by differentiating between needs and wants, so you can enjoy spending on things you love without feeling too restricted.- Focus on Savings: By setting aside 20% of your income for savings and/or debt repayment, this rule promotes financial responsibility and encourages you to develop a habit of saving over time.- Debt Reduction: Prioritizing a portion of your income towards debt repayment can speed up your journey to becoming debt-free, providing financial freedom in the long run.Cons of the 50/30/20 RuleThe 50/30/20 rule is a popular budgeting method, but it may not be suitable for everyone's financial situation and goals. Here are three cons of this rule:- Not One Size Fits All: The 50/30/20 rule is a general framework, and it may not work for people with high living expenses or significant debt.- Limited Focus on Important Financial Goals: The rule does not consider other vital financial goals such as retirement savings, emergency funds, or investing, which may require more than the allocated 20% for savings.- Limited Focus on Long-Term Wealth Building: While the rule promotes saving, it may not emphasize investing for long-term wealth accumulation, which is crucial for achieving financial independence and retirement security.Ready to Budget Using the 50/30/20 Rule?Since we all are in various places and phases financially, some of us may need to adjust the 50/30/20 rule to align with our specific financial priorities and goals. The aim of the 50/30/20 rule is to help you budget your money better towards financial freedom, not to stifle you. We have now come to the end of this article! I hope you can now apply the 50/30/20 rule correctly. Towards financial freedom, we move!

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Have you ever felt like you're missing out on the latest trend? Maybe you keep hearing whispers about people investing in cryptocurrency at the office dining room or see headlines about Bitcoin soaring in value. You're curious, but the world of crypto seems complex and intimidating. You're not alone!This blog post is your friendly guide to navigating the exciting, but sometimes overwhelming, world of cryptocurrency investment. We'll break down the basics, from choosing the right crypto to securely storing your digital assets, so you can confidently join the conversation and decide if crypto is right for your investment portfolio.What is Cryptocurrency?Before you learn how to invest in cryptocurrency, it is very important to know what cryptocurrency is. Cryptocurrency, or crypto, is a digital currency, meaning it doesn't have a physical form but runs on a virtual network. The cryptocurrency is built on blockchain technology which ensures that all transactions are securely processed and recorded.Cryptocurrencies are digital assets that can be bought and sold but unlike stocks, investing in cryptocurrency does not entitle you to legal ownership of a company. Rather, you are investing in a digital asset that you hope will increase in value.Crypto has two major distinctions when compared to other forms of currencies. One, cryptocurrency is decentralized which means that it is not owned, backed or regulated by any government or corporation. Second, cryptocurrency can be transferred without using a third-party financial institution like Bank. By contrast, bank account connections are required for well-known peer-to-peer payment systems like Zelle, PayPal, or Venmo to function.Compared to ways of investment such as investing in mutual funds and gold that are more stable, crypto is highly volatile. So, you should ensure you read this article till the end to get a head start when investing in cryptocurrency.How to Invest in Cryptocurrency?Now that you've grasped what cryptocurrency is, you can explore how you can start investing in cryptocurrency. In simple terms, you need to know how to buy cryptocurrency online and how to trade cryptocurrency online. The most popular place to purchase crypto is cryptocurrency exchanges.How to Buy Crypto Online?Cryptocurrency exchanges are like a marketplace where you can buy and sell cryptocurrencies. There are many to choose from with popular ones being Coinbase, KuCoin, Binance, Bybit, etc. These exchanges allow you to buy crypto like Bitcoin, and Ethereum using a debit card. You can also buy any amount of these currencies just like when you buy a piece of land on a hectare of land.Things get a little trickier for other cryptocurrencies, sometimes called "altcoins." Alternative coin, also called Altcoin refers to any cryptocurrency that's not Bitcoin. Think of Bitcoin as the original king of the crypto castle, and altcoins are all the other contenders for the throne. Examples are Solana, Dogecoin and the popular BNB.To buy these, you'll often need to use Bitcoin or Ethereum first because you can't usually buy them directly with fiat currency (regular paper money like USD or NGN). But that may change in the future.Where to Buy Crypto Besides Exchanges?Exchanges make money by charging fees for conducting transactions, but there is another way you can buy cryptocurrency online. You use the peer-to-peer method where you can buy directly from other people who are looking to sell cryptocurrencies.If you're entirely new to cryptocurrency, it's best to stick with the exchange for now because peer-to-peer can be slower and a bit risky. Exchanges are a safer and easier way to get started. Another option, which is gradually coming to the limelight, is the Bitcoin ATM. According to Statistica, there are 34,000 Bitcoin ATMs all over the world as of January 2024. You can use a Bitcoin ATM to purchase Bitcoin and send it to your wallet (where you keep your cryptocurrency).Where to Keep your Cryptocurrency?Now that you’ve understood how to buy cryptocurrency and where to buy it from, the next thing is to know how you keep your cryptocurrency, in a wallet, a cryptocurrency wallet. This wallet isn't the physical wallet you keep at the back of your pocket but an electronic store that holds your private keys, keeping your crypto safe and accessibleThere are two types of cryptocurrency wallets, the software and the hardware wallet. There is the Software wallets this is often used for active trading because they are easily accessible. The hardware wallet, on the other hand, is a physical device, like a USB. It is more secure which is why people often used it to hold currencies that are rare to find or to keep a coin for a long time.What are the Risks and Benefits of Investing in Cryptocurrency?Aside from earning money online without investment, every form of investment you’d make has varying degrees of risk and reward. Cryptocurrency isn’t an exception as it comes with its unique pros and cons.What are the Risks of Investing in Cryptocurrency?Cryptocurrency prices are known for their wild swings, meaning you could see your investment skyrocket one day and plummet the next. This volatility can be exciting, but it also carries a high risk of losing money.On top of that, not all cryptocurrencies or platforms are created equal, and some are more vulnerable to hacks or even outright fraud. When it comes to investing in cryptocurrency, it is “buyer beware”, so do your research and invest cautiously.What are the Benefits of Investing in Cryptocurrency?One of the beauties of investing in cryptocurrency is that it breaks away from traditional financial systems, allowing users more control over their funds and global access anytime. They boast the potential for faster transfers and lower fees compared to banks, especially for international transactions.And most importantly, cryptocurrencies have the potential for high returns, which is actually why most people choose them over normal banking methods.ConclusionInvesting in cryptocurrency can be both fascinating and intimidating for beginners. However, unlike traditional investment options, cryptocurrency is a highly volatile market fraught with inherent risks. While you make your decision on how you want to start your crypto journey, don’t get caught up in the hype and rush into decisions. Take time to conduct thorough research. Explore different cryptocurrencies, understand the underlying technology, and carefully evaluate the reputation of various trading platforms.Lastly, if you are a business owner, either e-commerce or a startup in any sector, you can also incorporate cryptocurrency as an opportunity to expand your customer base and cater to a tech-savvy demographic.

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How to Invest in Real Estate Online

Traditionally, investing in real estate meant hefty down payments and hands-on management. Investors get more intimate with their assets and have a deeper understanding of the investments themselves. The rise of technology has, however, translated the conservativeness of investing in real estate into online platforms.In this article, you'll learn the possibility of investing in real estate online while maintaining the benefits of your assets. You can invest if you're a passive investor seeking hands-off returns. And through other options, you can enjoy a more active role in selecting properties and managing investments. You will explore options like REITs, crowdfunding platforms, and others. You will also see how you can find the right fit for your financial goals and risk tolerance.What Investing in Real Estate Online is?Now, let's dive into investing in real estate online. Investing in real estate online is the participation in the real estate market without directly having a property yourself. It also saves you the hurdle of moving from one property to the other in search of a good investment. Basically, all you have to do is first look out for a platform where you can buy a property. Then you select the plan/property you are interested in and invest.Investing in real estate online can be seen as when you eat a sumptuous cake without actually baking it. All you did was to help a baker find the ingredients that are used in making a cake. The baker then gets the ingredients, bakes the cake and you get to eat it.The ingredients you help the baker select imply the process of you choosing your platforms and properties of choice. The person who bakes the cake represents the platform of your choice that actually manages the properties. In the end, you get to have a bite of the cake without any hands-on effort. You can also get rewards from the properties you bought without having any hands-on experience with them. That is what investing in real estate online is about.You can also compare this to the shift in the Gold industry. The conventional way of getting is to buy and store it, but now, you can also invest in gold online.How to Invest in Real Estate OnlineNow that you understand what investing in real estate online is, and you are already interested (aside from those who enjoy the physical experience that comes with moving from one property to the other). The next step is deciding how you’d like to go about it and that is what the next section is about.There are several ways you can invest in real estate online and one of the popular methods is real estate crowdfunding, among others that will be mentioned as well.Real Estate CrowdfundingIn traditional real estate investment, there is the Real Estate Investment Group (REIGs) which can be compared to crowdfunding. Real estate crowdfunding is a medium that allows multiple investors to pool their money together to invest in a property or property. It is like mutual funds for real estate. Real estate crowdfunding is a perfect investment plan for you if you have a full-time job or you are actively involved in something else and you would like to make some extra money from real estate. Crowdfunding comes with a low initial capital which makes them ideal for even beginners, unlike the traditional real estate investment. Some of the recognised platforms for crowdfunding are CrowdStreet, RealtyMogul and Fundrise.Real Estate Investment Funds (REITs)Investing in real estate through real estate investment funds is also another way to invest in real estate online. REITs are more like companies that directly own income-producing real estate such as apartments, office spaces, warehouses and even shopping malls.REITs allow you to invest little with small amounts unlike how you will invest when you purchase a whole property. You can also spread your investment across several properties, thereby reducing your investment risk across locations and property types.Similar to how you invest in stocks, you trade REITs on public stock exchanges, or sometimes non-traded private REITs.Other Online Investment MethodsBesides crowdfunding and REITs, there are several other methods through which you can invest in real estate online. Just as there is house flipping in the traditional investment in real estate, there is also an online version called Micro-flipping. This is where you buy a “not-too-good” property from a distressed seller and sell it without paying for any fix.The last option, although there might be more as new methods are emerging, will be the fractional real estate investment. This is made possible by using blockchain technology in real estate. You can now use online platforms like Lofty to purchase digital tokens. This implies that you can invest in real estate with as little as you have, ranging between $50 - $100.What is The Best Way to Invest in Real Estate Online?After all has been said, the big question is about what best way you can invest in real estate online. Several ways have been mentioned above and they all depend on several factors such as the type of property you want to invest in, the amount you can invest, etc.For instance, you should not consider using the fractional investment method when you don’t know how to invest in cryptocurrency. As mentioned above, real estate crowdfunding is more suitable for the working class. For REITs, it can provide you with a more steady income and it is also easy to sell.ConclusionThe world is increasingly becoming an online village and the real estate sector isn’t left behind. In this digital era, you no longer need to make a down payment or have the burden of property inspection and management before you can invest in real estate. Right from the comfort of your home, you can invest in real estate with several options to select from.Whether you are a busy professional looking to invest through REITs or you have little cash to invest through crowdfunding or fractional investment, the online space has several means you can explore. Just remember that you have to carefully do your research and have a clear understanding of your financial goals in alignment with your budget.