students during graduation ceremony

Reasons Why Getting Financial Aid Is Important

It is now a common practice for students to apply for financial aid to help them pursue their education and career. Things can be a bit challenging at first, especially the fact that applying for student financial aid is never easy. There are qualifications to meet and files to present, and it does not include the long and exhausting process. As a result, many parents turn to finance agencies that offer loans either for business or personal matters.

dollar bills

However, applying for student financial aid proves to offer more advantages for students than having to apply for general loans. Problems arise when most parents assume that both have similar qualities, and they prefer the general debts instead of the ones with designated educational purposes. Thus, this article discusses the reasons why students need to apply for financial aid.

College Funding

The latest surveys state that half the students who are eligible to receive the money do not even try to apply. Indeed, it becomes a problem, but the best scenario that can happen is that those who prefer not to apply have financially-stable parents. As a result, millions of dollars in college funding is available for claims. In other words, by applying for the funding, one will be part of the students who receive a portion of the money, and they can use it to pursue their education. Remember that college tuition has been going up so high lately, and receiving the portion is undoubtedly worth the efforts.

Growing Financial Needs

people counting coinsIt is safe to state that parents need to prepare at least thousands of dollar if their children intend to enroll in university. Not only does the money go to the tuition paid each semester, but also goes to the students’ daily needs. Food, transportation, electricity bills, and college books are some examples. Thus, getting loans will surely lighten such loads. Students may feel that their parents can handle all the financial matters, but parents can encourage their kids to take part in that government program.

Future Preparations

Preparing things ahead is always wise and advisable, especially when it comes to education. Please note that the college cost can be more than one hundred and fifty thousand dollars for the next four years. Although it is still a prediction, it is never wrong to prepare things years before.…

business stamp

Checklist for Singapore Company Registration

In Singapore, around 77,379 business entities were legally registered in 2014 alone according to a report by the Department of Statistics Singapore. While these numbers are impressive and are continuing to grow, you must familiarize yourself with the requirements of starting up a company in Singapore. That said, to complete a successful company registration process in Singapore, there are some requirements you should meet.

Ready? Well, this Singapore company registration checklist should help you understand the process of forming a company in Singapore successfully.

Proposed Company Name for Approval

First and foremost, you should submit the name of the company you intend to start for support by the ACRA (Accounting and Corporate Regulatory Authority). This is the body mandated to oversee the regulation of companies as well as facilitating their development. Also, ACRA can impose fines or issue court summons to companies defaulting the ongoing compliance requirements.

Directors

In Singapore, it’s a must your company has a minimum of one resident director. This director can be a citizen of Singapore or a permanent resident. Alternatively, this individual could be a dependent pass holder or hold an employment pass. However, the law requires them to be 18 years of age or older, doesn’t have any past criminal record and is not bankrupt.

In addition to this, directors can’t hold any shares with the company. He/she is just appointed in compliance with the requirements of the Singapore Companies Act. Also, the company can have as many as possible local and foreign directors.

Shareholders

certificate of shareholdersThis is also one of the primary requirements when you want to incorporate. Shareholders can either be local or foreign corporate bodies or individuals. You are limited to a minimum of 1 and a maximum of 50 shareholders.

After incorporation, shares can now be transferred to shareholders. If your company manages to rope in at least 20 shareholders, it can now be considered as an EPC (Expert Private Company). The best part is that 100% foreign shareholding is legal.

Company Secretary

After incorporation, you have a maximum of 6 months to appoint a qualified individual as the company’s secretary. Also, the company secretary must be residing in Singapore and must not either be a director or a shareholder.

Paid-up Capital

A minimum of S$1 is paid up during the incorporation process and can be of any currency or tangible/intangible asset such as shares. Also, this minimum capital can be increased at any time.

Registered Address

Just like any other nation in this digital age, in Singapore, you also need to register a business address for your company. This local address can either be commercial or residential, but not a post office box. However, if you’re a foreigner, you’re not allowed to self-register, although seeking the services of a registered agent is allowed

Register for General Sales Tax (GST)

You may need to register for Goods and Services tax if your company’s normal turnover is above SGD1 million/year for local supplies only. There are favorable tax exemptions and incentives such as:

  • No taxes on dividends or capital gains.
  • On your first annual profits of S$300,000, you’ll pay not more than 8.5% tax and 17% after that.

To sum it up, the above checklist gives you an overview of the critical requirements of Singapore company registration. Getting to know the criteria will help you prepare ahead, thus minimizing the unexpected risks you may later encounter.…

Checklist for Singapore Company Registration

In Singapore, around 77,379 business entities were legally registered in 2014 alone according to a report by the Department of Statistics Singapore. While these numbers are impressive and are continuing to grow, you must familiarize yourself with the requirements of starting up a company in Singapore. That said, to complete a successful company registration process in Singapore, there are some requirements you should meet.

Ready? Well, this Singapore company registration checklist should help you understand the process of forming a company in Singapore successfully.

Proposed Company Name for Approval

First and foremost, you should submit the name of the company you intend to start for support by the ACRA (Accounting and Corporate Regulatory Authority). This is the body mandated to oversee the regulation of companies as well as facilitating their development. Also, ACRA can impose fines or issue court summons to companies defaulting the ongoing compliance requirements.

Directors

In Singapore, it’s a must your company has a minimum of one resident director. This director can be a citizen of Singapore or a permanent resident. Alternatively, this individual could be a dependent pass holder or hold an employment pass. However, the law requires them to be 18 years of age or older, doesn’t have any past criminal record and is not bankrupt.

In addition to this, directors can’t hold any shares with the company. He/she is just appointed in compliance with the requirements of the Singapore Companies Act. Also, the company can have as many as possible local and foreign directors.

Shareholders

This is also one of the primary requirements when you want to incorporate in Singapore. Shareholders can either be local or foreign corporate bodies or individuals. You are limited to a minimum of 1 and a maximum of 50 shareholders.

After incorporation, shares can now be transferred to shareholders. If your company manages to rope in at least 20 shareholders, it can now be considered as an EPC (Expert Private Company). The best part is that 100% foreign shareholding is legal.

Company Secretary

After incorporation, you have a maximum of 6 months to appoint a qualified individual as the company’s secretary. Also, the company secretary must be residing in Singapore and must not either be a director or a shareholder.

Paid-up Capital

A minimum of S$1 is paid up during the incorporation process and can be of any currency or tangible/intangible asset such as shares. Also, this minimum capital can be increased at any time.

Registered Address

Just like any other nation in this digital age, in Singapore, you also need to register a business address for your company. This local address can either be commercial or residential, but not a post office box. However, if you’re a foreigner, you’re not allowed to self-register, although seeking the services of a registered agent is allowed

Register for General Sales Tax (GST)

You may need to register for Goods and Services tax if your company’s normal turnover is above SGD1 million/year for local supplies only. There are favorable tax exemptions and incentives such as:

  • No taxes on dividends or capital gains.
  • On your first annual profits of S$300,000, you’ll pay not more than 8.5% tax and 17% after that.

To sum it up, the above checklist gives you an overview of the critical requirements of Singapore company registration. Getting to know the criteria will help you prepare ahead, thus minimizing the unexpected risks you may later encounter.…

loan

How You Can Pay Back Your Business Loan Fast

Financial challenges are also common in most businesses. You may lack money to buy your stock, carry out some marketing campaigns or even expand. There is no need to worry because there is a wide variety of financial options you can exhaust. You can approach individual financiers who will assess several things in your business before deciding to finance you.

Banks and other lending institutions also offer loans which can be of help to your business. They have their lending terms which you should follow. Online lending platforms have become many over the recent years, and you should also make good use of them. Some offer quick payday loans while others long term loans.

You can get pikalaina heti from some of these sites. All you need to do is confirm your eligibility. Something common with most lenders is that they will require you to repay your loan after a certain period, failure to which you might get blacklisted, and you will not be able to access one.

There are credit bureaus that monitor the repaymentloan habits of individuals and businesses. Late repayments can affect your credit score if you are not careful. Some lenders can seize some of your property if not careful. As a business, there are several things you should do to make sure your loan is repaid fast. They include:

Avoid Over Borrowing

Borrowing more than you can pay may give you a difficult time when it comes to repaying your business loan. The revenue you generate cannot be enough to service your mortgage if you borrow excessively. You should first identify your needs before acquiring that business loan. Understanding your needs will help you choose the right amount.

Set Your Priorities Right

Some people will borrow just for the sake of borrowing or for entertainment purposes. Recovering the money to use in repaying that loan can be difficult if you are doing it for entertainment purpose. You should use that money in a good investment with high returns. This will help you repay your loan fast.

Plan

You should plan your finances if you want to pay back yourloan loans fast. After borrowing that money, come up with a good budget that will ensure every penny is accounted for as required. This is vital in helping you to moderate your spending. You will have the amount needed to pay back your loan at the end of the day.…

a working lady

Three Ways to Avoid Work Burnout

Today’s work environment has become more competitive than ever. Besides competing with another firm of the same field, a worker needs to race against work automation. Consequently, people tend to overwork and experience work burnout.

Such stress may not seem like a big deal when it appears for the first time. However, in the long term, the burnout will begin to ruin your life. Those who leave the condition untreated are known to develop depression and even suicidal thought. Therefore, it is essential for you to avoid work burnout at all cost. Here are three suggestions for you.

Be Open to Your Supervisor

a man on a deskYou may think that keeping quiet when you stress out indicates that you are strong enough to work under pressure. Nevertheless, your productivity may get affected if you continue to hold up such a condition. Moreover, do not underestimate the intensity of your position. People often compare their jobs with others, and they always think that they can accept more burden than they have already had.

You should understand the weight of your profession. Engineers, doctors, and accountants are three examples of jobs that are prone to work burnout. Engineers are often given tight deadlines for their projects. Doctors deal with life-or-death situations. And working on r&d tax credits is one example of many stressful tasks that an accountant has to do.

You must be open to your supervisor about your psychological condition so that he/she can devise a solution for you. Moreover, it is their job to monitor the workload given to you.

Leave Your Job on Your Desk

a depressed manThe development of information technology has its drawbacks to human’s health, one of which is the disappearing line between personal and professional lives. Although some projects may require you to work outside of your working hours, you still need to control it. You deserve quality time for yourself, and the inability to do so will cost you your wellness.

Once you get home, you must explore things that are not related to work. Get yourself to join a fitness club so that you can exercise while surrounded by people. If you only want to stay at home, then you should make it special. Scented candles, cozy music, and a warm blanket will be your best weapons to get rid of your stress.

Join the Company’s Outing

The company’s outing session is designed for all the workers to get to know each other outside of the working environment. Maintaining a good social relationship with other workers is also an excellent way to avoid work-related stress. If you are familiar with others, you will be less likely to hold grudges and feel anxious when you work with them. Besides, even if you want to keep your distance from your colleagues, you can still train yourself to adjust with them by joining the outing session because you can observe their personalities there.…

currency

Reasons Why You Should Use a Digital Wallet

Many people have not used digital wallets yet, but they are aware of them. A digital wallet is a safe method of keeping digital currencies. Some of the most common digital wallets include Apple Pay, Google Pay, and Samsung Pay among others. Digital payment options are becoming diverse as they keep growing over time. It is not just a fad for the tech-savvy. If you are skeptical about using the digital wallet, here is a list of reasons as to why it is better to use it as compared to cash or cards.

It is Safe

digital moneyWhen making payments using the digital wallet, the card number is not shared with the merchant. This is what most individuals are afraid of. However, there is no need to worry because once you make the payments, the card is protected by a changing technology known as tokenization. Therefore, even if your phone gets lost or its stolen, you have the pass code, and there is the option to wipe it clean. Unfortunately, you can’t say this about your regular wallet.

It is Fast

It does not matter whether you are shopping online or in physical stores. The digital wallet is a faster mode of payment as compared to other options. Unlike the conventional methods of payment where things can be a bit slow at the counter because of incidences like the misplacement of a purse, with digital wallets, it is different. You only need to hold your phone and watch up to the terminal, and that is it. In addition to this, when making online payments, the digital wallet enables you to skip past the long forms. You only need your fingerprint to confirm the purchase, and you will have your item on the way.

It is Rewarding

This mode of payment is more than digital and credit cards. You can also add loyalty cards and insurance cards among other cards among others. Therefore, you will never miss an opportunity to earn points at the stores you love. Another merit is that with Apple Pay and Google Pay, you will earn DuGood points and things make things twice as better.

Enhances Organization

bitcoinDigital wallets enable you to carry all your cards in one place without the need of you carrying them. Therefore, this is not only safe, but it is convenient. It also keeps you organized because you know where all your essential cards are and misplacing them is not easy.

Easy Splitting

Sometimes, you may be hanging out with your friends or family over a meal or drinks. Splitting of the bills can be a challenge when making cash payments. However, with digital wallets, this is not the case. Splitting becomes easy because you can quickly pay your bills. Recent Apple updates have enabled users to split their bills using iMessage.…

bitcoin

The Merits of Using Digital Currency

Unless you are living under a rock, you have probably heard about the success of digital currency. The most popular one is bitcoin. It has a strong market performance, and many institutions are now accepting the cryptocurrency as a form of payment. By December 2016, it had crossed $2700 in writing. This was a significant improvement in its performance because it was previously valued below $ 1000. There are other digital currencies like alt coins that have also shown a remarkable increase in value over the years. To prevent fraud, bitcoin is based on the blockchain technology which is a distributed database that supports digital currencies. The transactions are recorded and decentralized through computers around the world. Below are some of the benefits of using digital money.

Low Transaction Fees

young ladyIt is expensive to use credit cards because sometimes the charges can be very high. The costs are high, especially when using one for international purposes. Therefore individuals feel the pinch of using them because the interest charged on them could vary from two to five percent. Instead of paying some amount in transaction fees, consider using digital currency. This is because it is cheaper to make transactions using bitcoin and other digital currencies as compared to using credit cards. Sometimes, the transactions are free of charge.

No Inflation

Inflation is a big problem in third world countries. Central banks often inflate their currencies so that they can keep their heads above the water. Even in the United States, some contend that the inflation rate is higher on so many products and services as compared to the Consumer Price Index. However, with digital currencies, there is no inflation. This is because the quantity limits are controlled as well as the algorithms in the system.

No Charge-backs

moneyThe use of digital currency eliminates the fraud that comes with from charge-backs. Customers may purchase a product and use it, only for them to ask for a refund from their credit companies due to a falsified reason. Businesses will categorize such costs as the cost of doing business. When using bitcoin, there are no charge-backs. Once you receive the transaction from a customer, the sale is complete. You can, however, refund where you deem that to be the right decision for your business.

Fast Transactions

It is faster to process transactions using digital currencies as compared to other forms of payment. The transactions take just a few minutes although due to the high usage of bitcoin, there has been a noticeable slowdown.…