December 2018 - WiseDollar

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How to Get out of Debt in five easy Steps

December 18, 2018 Wise Dollar Debt, Financial Independence No comments

In the world of economic crisis, it?s very hard to ensure your financial stability. Even after having the best education from the top tier university, there is no guarantee you will get the perfect job with a decent salary. Majority of the people tends to borrow money from other people to find an instant solution to their economic crisis. But eventually to get into the trouble of heavy financial debt. This is where things begin to get worse. Unless you know the proper way to repay your loans, chances are very high you will never become financially stable. In today?s article, we will explore five easy steps which will help you to overcome such problems.

List all your debts

People don?t really understand the importance of proper planning when it comes to debts repayment. Firstly, you need to list all your debts. Based on the interest rate and owed amount you need to prioritize the payment. Try to clear out the small debts at the initial stage so that you can focus on the bigger amounts. However, if you can manage to clear out the big debts, it will be an added advantage for you. Once you start to repay the loans based on the priority order, things will become easier for you.

Cut down the unnecessary cost

Human beings love to lead their life with luxury. If you start to track your spending, you will be surprised to see the amount of money you spend every month on unnecessary things. When you are in heavy debt, you need to cut down the unnecessary expenditure to repay your loans. Even a small increment to your monthly savings holds the power to lower down your debt burden. If necessary, compromise your living standard to save some extra cash.

Create an alternative source of income

Why do people fall into debt trouble? The answer is really simple. Majority of us tends to rely on a single source of income. It?s very hard to finance multiple sectors in your life based on a single revenue source. Try to find an alternative source of income, if necessary get involved in the CFD trading profession. If necessary start working overtime so that you can use the extra money to clear your debts. Things will not be easy at the initial stage but if you start working hard in an organized way, it won?t take much time to clear your debts.

Focus on One debt

It?s very normal to have multiple debts in your life.Most people try to repay all the debts on a small installment. But this process requires a huge time and eventually, you have to pay more interest. The smart people always focus on one debt and repay other debts on small installment. But following this simple process, they end up by paying less interest since debts are cleared out in an orderly manner. Make sure you have the debt list in your hand so that you know which debt is causing you to pay more interest. Those who manage to follow debt repayment plan strictly are most likely to get out of debt without paying heavy interest.

Avoid taking loans to repay debts

Taking loans to repay debts is one of the major cause for which people fails to get out of the debt cycle. You are just circling the money and prolonging your problems. Try to avoid getting into new debts at any cost. If the necessary file for an extension and find other means to increase your monthly earnings. Never plan your debt repayment process based on themoney which you don?t have in your pocket.

Once you are free from debts, make sure you start building up your savings account. No one knows about the future. It?s always better to have some financial backup to support your loved ones in times of need.

Four amazing ways to pay off the Debt

December 18, 2018 Wise Dollar Debt No comments

People always think paying off the debt is the most difficult task in the world. But if you look at the large organizations, you will be surprised to see they are continuously taking loans from the banks to expand their business. Does this mean they are also suffering in the same way as you do now? People usually take loans only to solve their emergency financial problems. So the moment you get into debts is the very moment you take extra burden in your head. But those who are smart know the proper way to pay off the debt within the stipulated time. Today we will give you four amazing tips which will help you to pay off the debt in due time.

Compromise your life standard

Though it mind sounds a little bit weird works in real life. For instance, you might be attending the office via taxi cab. Just do some basic calculation and you will be surprised to see the amount of money which you can save by using the public transport system (bus, train etc.). Saving a small amount of money on your daily activities usually, result in huge savings at the end of the month. Use that money to pay a certain portion of the debt. By the statement ?compromise your life standard? we are refereeing to standard optimization in our daily spending. Be smart and spend your money according to your need to pay off the debt in due time. Most importantly it will help you not loan more money from other people.

Diversify your source of income

Leading your life based on a single income source is extremely risky. Most of the time people ends up by taking a loan to maintain harmony in their life. But they don?t realize the simple fact, paying off the debt is a very complex process and requires perfect planning. Once you are in debt, you will understand the importance of multiple sources of income. For this very reason, many people in Australia tend to use the Forex demo account to learn to trade. Trading can be a great alternative source of income and it can help you to pay off the debt. If necessary you can also look for other part-time jobs to earn some extra money. Be prepare to work hard when you are in debt. Try to repay the loan as early as possible since it will help you to make your life much better. Once you are out of the debt, make sure you save some money from your monthly earnings so that you can deal with emergency situations without taking loans.

Seek help from your family

Family tie is the most important thing a person can have in life. If you find yourself in heavy debt, don?t borrow money on interest. Try to share your problems with your family and you will definitely get a good solution. Never hesitate to share your personal problems with your loved ones. Always remember, family members are not like the banks. They will always try to help you in different ways so that you can get rid of such debt problems. You might think your family members will not be able to help you but you are absolutely wrong. They might not be able to help you financially but the guidelines they will give is worth of the effort.

Don?t miss any installment

People often think missing an installment in loan repayment is not a big issue. But if you consider the long-term consequence, you will understand this is one of the major cause for which many people fails to get rid of their debt in their lifetime. Try to pay your installment right at the time and if possible clear the payment prior to the scheduled date.Without following the organized plan, it will not be possible to solve the debt issue within a short period of time.

Avoiding the Fines: Are You Compliant with These 8 PCI DSS Rules?

December 18, 2018 Wise Dollar Asset Protection No comments

When you run a business that accepts card payments, you?re almost definitely going to be covered by PCI DSS requirements. PCI DSS stands for Payment Card Industry Data Security Standards and to put it simply, these are the legal requirements you have to fulfil when processing card transactions.

These requirements are created to protect you and your customers from card fraud. Take a look through our list to be sure you?re following the mall. Failure to do so can leave you open to a lawsuit and uncovered by insurance if fraud does occur.

1. Maintain a Firewall

A firewall must be used to prevent unauthorised access to your systems from outside of your network. The firewall should be properly enabled and updated so it only allows what you want to pass through it.

2. Use of Anti-Virus and Anti-Malware Programs

Anti-virus and anti-malware seem like obvious things to have, yet there are still people and businesses who use inadequate coverage. It?s best to go with the most reputable brands, regardless of cost. The programs should be configured to work with your systems in the best way too, and of course they should be updated regularly. Remember to actually use these programs and scan regularly too.

3. Change All Default Settings

Never keep default accounts or passwords on your system.Change or delete every one of these before setting up your network. Some programs may come with default settings which can be exploited, be wary of this and set up all software thoroughly.

4. Use of Secure Digital Storage

Any data which is stored must be done so in a secure manner.This means even if you are taking credit card payments over the phone instead of online, you can?t just jot the details down on a notepad. Everything should be inputted through your system, which should use various forms of hashing and encryption to store it all securely.

5. Maintaining a Secure, Updated System

Your entire network should also be updated regularly. Any software which isn?t updated with the latest patches could be vulnerable as an entry point for attackers. Stay safe and stay up to date.

6. Restriction of Access to Data

Access to the sensitive data you hold should be restricted and given only when truly needed. Using a system which logs access and uses identifiers to see who accessed the data is a great way to spot unauthorised usage. Only allowing access when the account in question needs it is also a great idea.

7. Restricting Physical Access to Devices

Online security is one thing, but you still need to think about offline too. It?s no good if somebody can just walk into your server room and swipe your raw data to try and figure out at home. Keep your data servers in a physically safe location, under lock and key where access is restricted.

8. Security Testing

Regular testing can alert you to vulnerabilities in your system before they become a serious problem. Take advantage of this and test often. Use qualified personnel and be sure to have a good network administrator around to spot weaknesses.

How Freelancers Can Take Advantage Of The Gig Economy By Thinking out of the Box

December 5, 2018 Wise Dollar Financial Independence No comments

There is an increasing number of people turning to gig work as an addition to their regular 9 to 5; people who just want?to change their career or provide some?work/life balance to their lives. Where can you find such gigs though? Thinking out of the box helps a lot.

Designers, software programmers, writers and online marketers can all benefit from the array of jobs that growing industries have to offer, especially those that are online-focused, such as the online gaming?industry has to offer.?The gig economy has become a normal source of income for many freelancers. Positions can be short term?or temporary, but many can also be extended and continued indefinitely, providing regular work for months?or even years.

Benefits, budgeting and taxes

Working a gig allows you to work on many projects at the same time. It doesn?t tie you down and can often offer you a more flexible work schedule. The gig economy can open up opportunities?you hadn?t even considered, as an article from Entrepreneur.com explains. For instance, as a developer, you might be tasked with writing or testing a piece of code on a client?s website, which might lead to more work including user experience or developing new features.

Source – Pexels

It’s always important to maintain a sensible budget so you understand what kind of income you need just to get by and to keep an eye on your goals. Be realistic about the amount of money you?ll need every month because you’ll?be responsible for deducting your own taxes. An accountant will suggest you set aside at least 30% of your income for your taxes as well as health insurance and pension contributions.

Freelance work available from online gaming

Online gaming companies are always looking for software developers and designers to improve their programs and website functionality.? Sometimes, such positions are full time, but it isn’t?just the bigger companies that require these skills. Quite often, smaller gaming websites also need to maintain a fresh approach?with a site providing?more advanced frameworks and more attractive user experiences. In those cases, it’s not unusual for them to offer hourly pay for part-time or contract work.

Jobs can include building a casino website complete with admin panel to managing the day to day technical performance of a?website. There are also design jobs?like logo creation or graphics and illustration roles as well as the more usual game designing and software development tasks. These are games such as jackpot slots, card games and roulette, as you can see in the information available?from CasinoGames.ca, a casino review and comparison website.?Just think of the sheer amount of games that online casinos need to develop annually to keep their offering as new and glossy as possible.

Working the gig economy can help you get experience from these smaller freelance jobs which might mean one day supporting the big online gaming developers like NetEnt, Evolution or Microgaming who literally pour millions of dollars into their products. There are plenty of job boards you can look at to find a paying gig or freelance work. Upwork, Freelancer and Bark are just a few of the sites where regular freelance jobs are posted for freelancers to apply to.

>Source – Pexels

The gig economy can cover almost every industry, while it won?t get you a job directing shuttles at NASA, it will cover nearly all traditional trades?as well as creative industries. The downside to working a gig means job security isn?t great, but it does help you to build up multiple clients and as you complete more gigs and freelance assignments, using the skills you love, you’ll build up a client database that can help keep you in as much or as little work as you want.

Home Sweet Home: 5 Ways to Furnish Your Humble Abode Without Breaking the Bank

December 4, 2018 Wise Dollar Saving No comments

If you?ve bought a new home or you?re moving into a new apartment, you may need new furniture and soft furnishings. It can be exciting to make a space all your own but unfortunately, it can come with a high price tag. Unless you take specific steps to contain costs, you can easily spend several thousand dollars. Here are some ways to avoid using up all your savings.

Take out a loan for necessities

Debt doesn?t have to be a bad thing if you manage it properly. If you don?t have a lot of money, you shouldn?t take out a loan for extravagant items. However, getting a good bed and mattress may be necessary if you?re sleeping on one that?s hurting your back. If you need a computer desk so you can work from home and make extra income, a small loan is a good idea. Sites like westernshamrock.com can provide you with more details on this type of financing.

Check out thrift and consignment shops

Goodwill, the Salvation Army, and other thrift stores can have some gems. You can often get high-quality items at low prices. However, you may need to visit a few locations before you find the items you love but you will save a lot of money. You should still keep your budget in mind, so you don?t buy a bunch of useless items simply because they are cheap. Keep an open mind since you don?t know what you?ll find. Be prepared to repurpose items and use a little creativity to make everything work.

Buy second-hand items directly from their owners

Many small towns or large neighborhoods have Facebook groups in which people post items they have for sale. Ask around and find out if there is one for your area. People who are moving or looking for quick cash tend to let items go for a very low price. Many of the pieces may be in excellent condition. You?ll probably have to move the items yourself so try to get a good deal on freighting or ask a friend with a truck for help.

Keep an eye on big box stores

Buying new items doesn?t always have to be expensive. You?ll need to constantly be on the lookout for sales or sign up for emails from retailers. Gift cards or discount codes can help to reduce the price of furniture even further. If you don?t need your furnishings immediately, you can also wait for big sale days like Black Friday or Labor Day when you are sure to get discounts.

Seek out online deals

Shopping online gives you access to a wider range of products and prices. It?s, therefore, easier to find exactly what you want when it comes to fabrics, colors, and finishes. Of course, you won?t be able to physically test out your new furniture so you should pay attention to customer reviews. Be sure to take shipping costs into consideration to ensure you are really getting a deal.

Many people get caught off guard by how much it costs to make a house truly livable. It?s best to start saving as early as possible but if you?re on a budget, you can still make your home beautiful and reflective of your personality. Just follow the suggestions above.

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