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To save up money for the future, you probably opened up one or more savings accounts at banks you trust. But have you noticed that your money isn't growing as much as you would like it to while it sits in those accounts? They probably are not earning much money in interest, so the amount that you have saved likely has not changed much since you put the money in the account. This can be frustrating and disheartening, and it can create quite a bit of fear about the future, especially with coronavirus lockdowns and restrictions and rising costs.
The good news is you can do something about this. Putting your money in the bank is not the only way to make it grow. Instead, you can invest in assets that will appreciate in value over time. That way, you can build your wealth, and if you ever need more cash on hand for any reason, you can sell the assets you invested in and get the money that you need.
What are some of the top assets that you should consider investing in? HotForex has created this infographic to illustrate some of the options that are available. Keep reading to learn a bit about them.
Asset #1: Gold
When it comes to assets that you can invest in to grow your wealth, you probably think of real estate, right? A lot of people do. Unfortunately, many people these days can't afford to buy real estate because they might not be earning enough, they might not have enough money saved for a down payment, or the home prices in their area might be too high. But, again, there's no need to get discouraged because there are other assets, such as gold, that can be much more affordable but still give you a great return on your investment.
Gold is an awesome hedge against inflation, so even if the value of your currency drops, the value of your gold may remain stable or increase, thereby supporting you and your wealth goals. So, definitely consider buying some gold when you are ready.
Asset #2: Commodities
Another way to hedge against inflation is by investing in commodities. According to HotForex, industrial metals and oil have done well since COVID-19 restrictions were eased around the world in the recent past, so when you look at how their values have changed, you may realize that they have increased in value and price. If you invest in them now, you might be able to reap the benefits of their value continuing to increase in the years to come.
Some of the commodities that you might want to consider investing in include oil, palladium, copper, and silver. Going with materials that are in high demand across a variety of industries is a good way to ensure you will be making a sound decision and a financially responsible move.
Asset #3: Forex
Finally, there's the forex market. If you have never heard of it, it's basically a market in which you trade currency pairs to make a profit, much like you would trade shares of stocks on the stock market.
To succeed in the world of forex trading, be sure to get a good quality trading platform, like the MT4 for PC download. That way, you can gain access to valuable tools and stay on top of every trade with ease to increase your earnings.
(Disclaimer: This article is contributed and contains some commercial links)
By- Blogger Indifi
EMI is known as equated monthly installments. It is a fixed payment made by the borrower each month to repay the loan amount. The EMI is divided into two loan components. One is the principal amount, and the second is the interest amount. Whether you are applying for a personal loan, business loan, home loan, car loan, or education loan, EMIs are easy to calculate using the EMI loan calculator.
Three parameters based on which EMI calculator works:
- Loan amount.
- Repayment tenure.
- Rate of interest (offered by the lender).
Factors that affect the Loan EMIs
Above, we have discussed the main parameters on which loan EMI is based. Here are the factors that affect the EMIs.
Changes in the loan interest rate: There are three loan interest rates -- fixed, floating, and hybrid.
When an interest rate offered on a loan is fixed, in that scenario, there are no changes in the EMIs.
A floating interest rate is linked to the marginal cost of the fund-based lending rate and can change the loan EMIs. As the rate is flexible, it keeps changing per the repo rate.
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If you have taken the loan on a hybrid interest rate, the interest rate is fixed only for a particular tenure. After that, it is on MCLR to decide the interest rate, and based on the determined interest rate, the EMI changes.
Tenure: When you opt for a loan transfer from one lender to another, there may be a possibility of change in the loan tenure. It will also bring changes in the EMI calculations. If the tenure increases, it will decrease the EMI. In case the tenure is reduced, EMI will increase.
Sample loan chart of a business company Image source: wikimedia commons
The loan amount of repayment is also a reason that affects a loan's EMI. If you make a loan prepayment, it reduces the outstanding principal amount, based on which the EMI amount or tenure is changed.
Benefits of using an online EMI calculator:
- Find out exact EMIs to be paid monthly for any loan.
- Saves time.
- Get a detailed overview of loans applied using the amortization schedule.
- Plan your monthly finances well in advance.
You can set multiple schedules and loan tenures. After a detailed schedule comparison, choose the one that suits well with your financial requirements.
Significance of loan amortization schedule in EMI calculator
A loan amortization schedule data shows the EMI break-ups. It shows how much EMI you need to pay for interest and what you will pay as the principal amount. It is one of the most significant advantages of using the EMI calculator. The EMIs that you pay as principal will keep reducing the loan's principal amount. It will also result in decreasing the interest amount. You will get to know all these things when you use the EMI loan calculator frequently. The amortization schedule is one of the essential features of an EMI loan calculator that helps design the proper prepayment schedule.
The different types of EMI calculators
Home loan EMI calculator
Home loans are one of the most popular and common loans applied for in India. It has a long tenure and a sizable principal amount. Whenever you apply for a home loan, it is essential to do all the EMI calculations in advance. There are various home loan EMI calculators available online with every home loan provider. All that is required to calculate the EMI is the loan amount, tenure, and interest rate. Using a home loan EMI calculator can help you easily plan your finances.
Business loan EMI calculator
Like home loans, business loans also come with a massive principal amount and longer tenures. So, using the business loan online EMI calculator is a smart way to calculate the business loan EMIs. Requirements are the essential loan details, such as repayment tenure, interest rate, and the loan amount. Online, equated monthly installment is automatically calculated at the lender's website.
Personal loan EMI Calculator
Personal loans are multipurpose. It is the reason they are considered as the most applied loan to meet immediate financial requirements. For choosing the right loan amount, you must use the personal loan EMI calculator. It will help you to choose the best interest rate loan offer and tenure. Try to go with the shorter term to pay less interest on the principal amount.
Sample of External Loan amounts Image source: wikimedia commons
Education loan EMI calculator
Education costs increase each year and can cause financial strains on a family. If you are planning to send your child overseas for higher education by applying for an education loan, at that time, the EMI calculator proves to be the best online financial tool. It will help you to decide the right EMI amount where your daily expenses remain unaffected.
Simple interest loan EMI calculator
An EMI calculator is used to calculate the simple interest applicable on the loan amount for a specified tenure. It is one of the most accessible financial tools. All that is required is tenure, a simple interest rate, and the borrowed amount. After that, click on 'calculate' to know the exact EMI to be paid.
Loan against property EMI calculator
If you have any residential or commercial property registered in your name, you can apply for a loan against the property. It is a kind of secured loan, where the property is kept as collateral. To understand how EMI works under this loan scheme, use the loan against the property EMI calculator.
Overall, EMI loan calculators are one of the best financial tools to compare varied loan offers. It provides a clear picture of the total cost of the loan and respective EMIs to be paid monthly. Online EMI calculators are available on every lender's website; whether you are applying for a business loan online, home loan, car loan, personal loan, or any other loan, using the online EMI calculator can help. Just with a click of a mouse, you can keep control of your financial life.
The online EMI loan calculator has been programmed with the formula based on the loan applied. There is no need to worry about the accuracy of the result. All that you are required to share for the calculator to do its job accurately is the right amount, tenure, and interest rate offered by the lender.
Disclaimer: (This article is sponsored and include some commercial links)
The aromatic and simple vanilla is actually quite an exotic flavour. It comes with its own history, and is perhaps one of the best discoveries. Vanilla is grown from a unique species of orchid that is native to South America. It was used by the Mayans and Aztecs in a drink that they mixed with cacao, the precursor to chocolate. It arrived in Europe after South America was conquered.
Vanilla did not attract much patronage immediately. It began rather humbly. Queen Elizabeth I was the first person to taste vanilla flavouring and took to its mild but pleasant taste. Prior to this, it was not well received. Since it is pollinated only by the native Melipona bee, Europeans were unable to study it and grow it themselves.
Vanilla beans hanging off a vine at a plantation in Idukki, Kerala Image source: wikimedia commons
One day, a young slave boy Edmond Albius developed what is now practiced as hand pollination. A stick is used to pry the male and female parts of the flower apart, and with a gentle flick of the thumb, it is pollinated. The bulb swells up immediately if the fertilisation is successful. If the process involves any extra force, the entire effort is in vain. The vanilla flowers remain open only for a day, and fall to the ground if not pollinated.
When the Europeans discovered this, vanilla was grown widely. Once the long vanilla bean grows to the required length, it is dried and fermented. This is when the vanilla aroma begins to develop. Vanilla became a much-loved flavour in European food, and today is the most used ingredient in baking.
Vanilla beans being cured and dried Image source: wikimedia commons
Since the production of vanilla is expensive and so laborious, scientists have discovered an alternative. They make a synthetic compound that has the same chain structure as vanilla, called vanillin, which can be created from petrochemicals, lignin, eugenol, and even the anal secretions of beavers. This synthetic vanillin smells and tastes the same as real vanilla and is much cheaper.
Despite protests from activists, vanillin is widely used in the food industry to ease consumer demands. The real vanilla bean takes an entire year to grow and ferment enough to be used as flavouring, and at that rate, it is impossible to meet the global demand.
Keywords: Vannila, Vannilin, Synthetic flavouring, Europe, South America
The pandemic brought about a global boom of entrepreneurship in 2020. Thousands of small businesses launched in the UK last year, and many were very successful. Some businesses started as passion projects, while others aimed to fill a hole in the pandemic market. Services and products, like at-home workouts, popped up all over social media from new and exciting businesses. The pandemic left many Brits financially unstable and scared for the future of their career. Launching their own business gave them something to focus on again and a small amount of income.
The Financial Times reported that the number of registered companies in the UK increased by 30% in 2020. As the world returns to normal, it will be interesting to see how these new businesses approach the post-pandemic world.
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If you have just set up a new business, here are some essential marketing tips to get the ball rolling:
Exploit social media
Social media is one of the most effective marketing platforms available. You can connect with a global audience for free and market your product or service to them. Post consistently and use high-quality imaging to catch your audience's attention. Engage with potential customers by replying to direct messages, comments, shares and likes. Use a few platforms to maximise your exposure and create a strong brand identity.
You can connect with a global audience for free and market your product or service to them. | Photo by Alexander Shatov on Unsplash
Network as much as you can
Networking is a vital part of business, and you can do it on and offline. Use sites like LinkedIn to connect with fellow entrepreneurs and those in different industries. Reach out to them directly and ask about their company or role. You might be surprised by how much you can learn from one conversation. Once in-person events return, you should look to make the most out of meeting people in your industry. You might find brands to collaborate with or a mentor to learn from. Make sure to hand out your business cards at the event so people can get in touch with you in the future.
Networking is a vital part of business, and you can do it on and offline. | Photo by Chris Montgomery on Unsplash
Create a blog
You need to be an expert in your industry. Create a blog and share your journey of learning to be a business owner. You can share your expertise and why you started the company, which other entrepreneurs can read and learn from. Your knowledge and experience might be extremely helpful for those just starting out. Use a range of marketing techniques to launch your business into the next phase.
Use a range of marketing techniques to launch your business into the next phase. | Photo by Sincerely Media on Unsplash
(Disclaimer: This article is sponsored and include some commercial links)