Small Business Archives - Page 32 of 115

Apache is functioning normally

June 12, 2023 by Brett Tams

Looking to learn how to become a sleep consultant? Here’s how you can find pediatric sleep consultant jobs and work from home.

Sleep is important for a baby’s growth and well-being. And, for the parents too!

But many times, parents struggle to help their child get the sleep that they need.

That’s where pediatric sleep consultants come in. They are experts who specialize in helping families with children’s sleep problems so that everyone can get a good night’s sleep. If you enjoy working with kids and want to make a difference in their lives, becoming a sleep coach could be a great new career choice.

Today, I have a helpful interview about how to become a sleep consultant with Jayne Havens. Jayne is a pediatric sleep consultant and founder of the Center for Pediatric Sleep Management (a baby sleep training program that can help you get started with this rewarding career).

Today’s interview on how to become a baby sleep consultant answers questions such as:

What is a sleep consultant?
What does a sleep consultant do?
Why do families need child sleep consultants?
How much does a sleep consultant earn?
How long does it take to be a sleep consultant?
Is there enough room for new sleep consultants?

Today’s in-depth interview will help you get started with learning how to become a certified pediatric sleep consultant and perhaps even introduce you to a new way to make money from home.

You can learn more about how to become a pediatric sleep consultant by downloading a free ebook from Jayne by clicking here.

How To Become a Sleep Consultant

1. Please give us a little background on yourself and how you got started as a sleep consultant.

My journey to becoming a sleep consultant began when my first child was born. He was a really good sleeper as a newborn, but then he hit that classic four month sleep regression that so many babies experience and as a new mother I had no idea what was going on! He went from sleeping through the night to waking every hour on the dot. He wasn’t hungry, a quick pop of the pacifier put him right back to sleep but I was exhausted.

I remember heading to the book store and sitting on the floor surrounded by books about infant sleep. I read everything I could get my hands on as I was motivated to get my baby sleeping again.

After much research, I figured it out. With guidance from books, and support from friends, I sleep trained my son. The experience was life changing.

Teaching my son to fall asleep and back to sleep independently was the best thing I could have done for him and our entire family. He was rested, and I was rested too.

I found it to be such an empowering experience that I decided to help friends. For years it was just a hobby. I would support friends and even friends of friends through the sleep training process. I was good at it, and it felt so nice to help other moms.

Four years later, my daughter was born and thankfully I knew so much more the second time around. I was able to establish healthy sleep habits for her early which was such a relief.

That being said, after four years of staying home with my children, I was itching to get back to work. My husband travels a lot for his job and it felt really impossible to head back to an office job with two young kids at home, so I decided to turn my passion into a career.

I went online, took a sleep consultant certification course and within a few months I got my business up and running. My intention was to have a bit of a side hustle or passion project but my business grew rapidly and within two years I was earning six figures in my business. It was such a blessing because I really was able to grow my business while being the primary caregiver for my children at the same time.

I love that my children are watching me grow a business. We have extra income to take more vacations, make updates to our home, and do all the things that we as a family like to do together.

2. What is a sleep consultant? What does a sleep consultant do?

A sleep consultant supports parents through the process of establishing healthy and independent sleep hygiene for their children.

Depending on the child’s age and the family’s unique circumstances, sometimes this just involves helping the family get into a good routine with naps and feedings during the day, sometimes it’s coaching parents through sleep training, and sometimes it’s supporting parents as they set what I like to call “loving limits” around bedtime with their older children.

A good sleep consultant will meet their clients where they are, and support them to reach their unique goals in a way that feels safe and comfortable for them.

Some sleep consultants will physically go to their clients’ homes and support the family in person, but most sleep consultants support their clients virtually.

At Center for Pediatric Sleep Management, we specifically teach the virtual model of the business. Our students learn how to get onto a discovery call and speak to a prospective client in a way that would make them want to hire you. You will learn how to write a written sleep plan, and coach your clients to achieve their personal goals. The beautiful thing about working as a sleep consultant is that this work can largely be done from your phone or tablet. You can set up FaceTime or Zoom meetings, or phone calls if you prefer. Our day to day support is largely provided via email and text!

3. Why do families need sleep consultants?

Families don’t necessarily need sleep consultants, but the service and support we provide is invaluable.

So many families are struggling to navigate their baby or toddler’s sleep. Their children are up sometimes a dozen times overnight and they lack both the information and support that is necessary to resolve this struggle. There is so much information online, and every single mom-friend is giving different advice.

Sometimes it’s so hard to figure out what to do!

A sleep consultant will look at the family’s unique set of circumstances and provide a plan that is tailored to their needs. Then once a strategy is in place, they will provide a high level of support as parents work to make changes in their home.

This combination of information and support is the perfect recipe for success!

4. How much does a sleep consultant earn?

Some sleep consultants do this work part time and others work full time.

When you work for yourself, the possibilities are endless.

Some graduates of Center for Pediatric Sleep Management make $500-$1,000 each month while doing this on the side of their full-time jobs while others make $15,000 each month or more doing this work full time.

We even have a graduate who earns $40,000 each month from selling online courses to parents who do not want to work 1:1 with a coach. Really anything is possible!

The key to growing a successful sleep consulting business is to take it one day at a time. Set micro-goals for yourself and allow yourself to grow at a pace that is realistic for you. If you keep working on your business and you are committed to your own success, you will achieve your own goals!

5. How long does it take to be a sleep consultant?

Center for Pediatric Sleep Management is a self-paced program and our students have lifetime access to the course curriculum and our Facebook group for students and grads.

The information is delivered via an online platform and the curriculum is a combination of reading and video content.

Everyone finishes their studies on a timeline that works for them, but we estimate the course to be about 50 hours of coursework.

Many of our students complete their training in 4-6 weeks. If you have a busy life and a hectic schedule, no problem. If it takes you longer to complete the course that is entirely ok.

6. How do you qualify as a sleep consultant?

You need no prior education to become a certified sleep consultant. The course curriculum is robust so you must be willing to work hard and learn.

7. Is there a demand for sleep consultants? Is there enough room for new sleep consultants?

Sleep consulting is an up-and-coming field.

Most new parents have never even heard of a sleep consultant so there is lots of room for growth in this field. There will always be way more tired parents than there are sleep consultants, so it’s up to us as sleep consultants to normalize this type of support and show parents why it’s life changing for them to hire a sleep consultant.

Just like with any profession, I don’t believe in an over-saturation of the market. Sure, there may be tons of lawyers, real estate agents, dentists, occupational therapists etc. but if you are good at your job, you can grow a clientele and a successful business.

There is not a finite number of seats at the table of success!

8. How does a sleep consultant find customers?

The secret to growing a successful consulting business is making sure that as many people as possible know that you have a business and how you can serve your target audience.

Some sleep consultants grow an audience on social media, connecting with prospective clients online.

Other sleep consultants really avoid social media and prefer to connect in real life. Pediatricians, occupational therapists, feeding specialists, preschool teachers, daycare directors, family photographers, little gym owners etc. are all great referral sources for sleep consultants.

If you are willing to network with professionals that already support parents in other capacities, you will have no trouble building a client base for your own business!

Once you have supported a handful of families, chances are they will have such a life-changing experience that they will scream your name from the rooftops! Client referrals are the best kind because these new families have already heard first hand how helpful you have been to someone they trust.

9. Do you need a college degree to become a sleep consultant?

No degree necessary!

10. Can you list the steps needed to get started as a sleep consultant?

The first step is to enroll in a sleep consultant certification course. Once you have enrolled, commit to finishing your course. Once you have completed your training and all assignments, the next step will be to get your business up and running.

This can feel daunting and overwhelming, but not to worry as it’s all outlined in the business section of the program. You will take care of some logistical tasks such as forming an LLC, setting up your business bank account and perhaps a website and social media accounts.

More importantly you will start making some connections. Announce to friends and family that you have launched your own sleep consulting business and don’t be afraid to ask people you know to share your business with their circle. Word of mouth is so powerful.

When you land that first client, make sure to take great care of them as you will want them to have a positive experience and share your name with their friends who may also benefit from your support.

11. What other tips do you have to share?

I always like to say, the secret to getting ahead is GETTING STARTED!

There is no sense waiting around as that will only delay your success. When you commit to starting something new, even if it feels a bit scary and outside of your comfort zone, that’s the first step that will be one of many that ultimately leads you in the direction you wish to go.

As entrepreneurs we all fear the unknown. We also fear failure. In order to succeed, you have to be willing to try!

12. Can you tell me more about the sleep consultant business training that you offer? Why did you decide to start a course?

I decided to create my own sleep consultant certification course because I noticed that there were some major gaps in other programs offered at the time.

Some courses only teach one approach, which is an approach that they deem to be the best. The problem with this is that there really is no one size fits all approach to sleep training. The key to success with this process really is meeting families where they are and coaching them through methods that align with their parenting style.

Forcing parents to implement sleep training techniques that don’t feel comfortable for them is the fast track to failure! At CPSM we are fully committed to teaching all sleep training methods and techniques. This best prepares our students for success!

I also noticed upon graduation from a sleep consultant certification course that many students were craving a higher level of mentorship and support than what was being provided through these programs. Students and graduates had questions that were being answered by others who didn’t necessarily have the experience or the qualifications to be giving sound advice. It felt like the blind leading the blind. When I launched my own program I knew I wanted to do it better. I am committed to making sure that my students always feel supported and that they always have answers to their questions.

Lastly CPSM places a very heavy emphasis on business building and entrepreneurship. I recognize that most who decide to become sleep consultants have no prior experience with launching or growing their own small business. This feels very overwhelming and scary to them. We address this head on inside our curriculum by teaching sales, marketing, business growth strategy and mindset work inside the course. Our students come to us as apprehensive and nervous beginners and we turn them into confident experts. It’s the greatest feeling in the world seeing their transformation before my eyes. I hope you will join us!

You can learn more about the course at Center for Pediatric Sleep Management.

Do you want to learn how to become a sleep consultant?

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Source: makingsenseofcents.com

Apache is functioning normally

June 12, 2023 by Brett Tams

It may be known for blues music and catfish farming, but the Magnolia State has plenty to offer when it comes to work and play. Mississippi is home to industries from technology to agriculture, with everything in between.

If you live in the state, you’re likely hoping to find the best banks in Mississippi to fit your checking and savings account needs.

12 Best Banks in Mississippi

Whether you’re looking for a national bank, a regional bank, or a small community bank, there are so many banks in Mississippi, it’s easy to find one that meets all your needs. You may even find the options overwhelming. Here’s a list of some of the best bank accounts in the state to help you narrow it down.

1. BankPlus

Local banks bring benefits like personalized customer service. BankPlus is a local bank with branches and ATMs throughout Mississippi. One downside to BankPlus, though, is its ATM availability. If you need to withdraw cash from your checking account, you’ll have to find a BankPlus ATM to avoid the fee.

Fees:

$6 monthly service fee
$36 overdraft fee

Balance requirements:

$100 minimum opening deposit
No minimum balance requirements

ATMs:

Fee-free at BankPlus ATMs

Interest on balance:

Up to 0.05% APY on savings accounts
Up to 0.55% APY on CDs

Additional perks:

Interactive teller machines connect you with live bank representatives
Up to $1,200 in cell phone protection per year

2. Planters Bank

Planters Bank could be a great option if you’re looking for a bank with physical branches. You’ll find physical locations across Mississippi, as well as in Tennessee and Louisiana.

This bank is better for those who don’t need to regularly make cash deposits and withdrawals while traveling. You’ll have to track down a SUM Network ATM, and even then, Planters charges a $1.50 fee in addition to what the third-party bank charges.

Fees:

No monthly maintenance fees
$36 overdraft fee

Balance requirements:

$50 minimum opening deposit
No minimum balance requirements

ATMs:

Interest on balance:

Up to 2.50% APY on money market accounts

Additional perks:

Robust mobile banking features
Unlimited check writing

3. Chime

Chime is an online and mobile banking solution that has everything you need to manage your accounts in its mobile banking app. You’ll get a fee-free1 checking account and access to a savings account that pays 2.00% APY³. With qualifying direct deposits in place, Chime will spot you in up to $200⁵ on debit card purchases with no overdraft fees.

Fees:

No monthly fees
No fees for overdrafts

Balance requirements:

No minimum opening deposit
No minimum balance required

ATMs:

Fee-free at 60,000+ ATMs nationwide
$2.50 for each out-of-network ATM transaction

Interest on balance:

2.00% APY on savings accounts

Additional perks:

4. Renasant Bank

Renasant Bank is a regional bank based in Tupelo. You’ll find 195 branches in seven states, including throughout Mississippi. There are multiple checking accounts, including a basic account that’s fee-free as long as you enroll in eStatements, have at least one direct deposit a month, or maintain a daily balance of $1,000.

Fees:

$10 monthly fee (waived with requirements)
$36 overdraft fee

Balance requirements:

$50 minimum deposit to open
No minimum balance requirement

ATMs:

Fee-free at 225 Renasant Bank ATMs and ITMs
$3 per out-of-network ATM transaction

Interest on balance:

0.05% APY on savings accounts
Up to 4.46% APY on CDs

Additional perks:

Small business owners have a wide range of checking and loan options
Children’s savings accounts available

5. GO2bank

Another online bank is GO2bank, which offers fee-free cash withdrawals through the Allpoint ATM network. If you need to deposit cash, you can take your free debit card to one of 90,000+ retail partners nationwide.

GO2bank’s checking account is free as long as you receive at least one payroll or government benefits electronic deposit each month.

Fees:

$5 monthly maintenance fee (waived with requirements)
$15 fee for overdrafts

Balance requirements:

No minimum opening deposit
No minimum balance required

ATMs:

Fee-free at Allpoint ATMs nationwide
$3 for each out-of-network ATM withdrawal

Interest on balance:

4.50% APY on savings accounts

Additional perks:

Secured credit card helps you build credit with no credit check required
Up to 7% cash back on gift card purchases

6. Cadence Bank

Cadence Bank began at the back of a hardware store in Verona, Mississippi in 1876. Over the years, Cadence has expanded to a regional bank and now has branches in Mississippi, Alabama, Arkansas, Florida, Georgia, Louisiana, Missouri, Tennessee, Texas, and Illinois.

The My Way checking account waives service fees as long as you maintain a $250 balance, have five debit card purchases monthly or at least one $100+ direct deposit, or are a student under 25.

Fees:

$8 monthly service fee (waived with requirements)
$36 overdraft fee

Balance requirements:

$50 minimum deposit to open
$250 minimum balance required

ATMs:

Fee-free at 400+ Cadence ATMs and ITMs

Interest on balance:

Up to 4.49% APY on CDs

Additional perks:

Special checking account option for seniors 62 and over
Wealth management services available

7. Ally Bank

Online and mobile banking have created an appealing alternative to big banks. Ally Bank gives you a checking account with no monthly maintenance fees and no minimum balance required.

You’ll have everything you need in the mobile app, as well as access to cash at Allpoint ATMs nationwide. But one of Ally’s best features is its competitive rates on savings accounts, CDs, and money market accounts.

Fees:

No monthly maintenance fees
No overdraft fees

Balance requirements:

No minimum deposit to open
No minimum balance requirement

ATMs:

Fee-free at 53,000+ Allpoint ATMs nationwide
Up to $10 in third-party ATM fees reimbursed monthly

Interest on balance:

0.25% APY on checking accounts
3.85% APY on savings accounts
Up to 4.80% APY on CDs
4.15% APY on money market accounts

Additional perks:

Paycheck funds available up to two days early
SpotMe covers you for up to $200 in overdrafts

8. Wells Fargo

National banks bring their own benefits, including a wide range of banking services and a vast branch and ATM network. Wells Fargo is one of the largest banks in the country, and you’ll likely find a bank branch near you.

Wells Fargo has a checking account with no monthly service fees as long as you keep a $500 balance, receive $500 or more in qualifying electronic deposits monthly, or you’re between the ages of 17 and 24. If you’re attending college, you can also enjoy a free checking account by linking your checking account to a Wells Fargo campus card.

Fees:

$10 monthly fee (waived with requirements)
$35 fee for overdrafts

Balance requirements:

$25 opening deposit required
No minimum daily balance

ATMs:

Fee-free at Wells Fargo ATMs nationwide
$2.50 fee for out-of-network transactions

Interest on balance:

Up to 2.51% APY on savings
Up to 4.51% APY on CDs

Additional perks:

$300 for new checking accounts
Earn 20,000 bonus points with the new Wells Fargo VISA

9. Regions Bank

Regions Bank is a regional bank that operates throughout the South, Midwest, and Texas. You’ll find branches and ATMs throughout Mississippi, including DepositSmart ATMs that make it easy to make check and cash deposits.

The Regions Bank LifeGreen eAccess Account is an online and mobile banking option with no monthly maintenance fees as long as you make at least 10 debit or credit card purchases each month.

Fees:

$8 monthly maintenance fee (waived with requirements)
$36 overdraft fee

Balance requirements:

$50 minimum deposit to open
No minimum balance required

ATMs:

Fee-free at Regions Bank ATMs
$3 out-of-network ATM fee

Interest on balance:

0.01% APY on savings accounts
Up to 4.75% APY on CDs
Up to 1.50% APY on money market accounts

Additional perks:

DepositSmart ATMs make it easy to deposit cash and checks
Wealth management services available

10. PriorityOne Bank

For a smaller, community bank, look at PriorityOne Bank, which has 16 locations across Mississippi. PriorityOne offers multiple checking account options, including a basic account with all the mobile banking features you’ll need, as well as unlimited check writing. This account is $7 a month, but you can have the fee waived if you keep at least a $100 daily balance.

Fees:

$7 service fee (waived with requirements)
$35 overdraft fee

Balance requirements:

$50 minimum deposit to open
No minimum balance required

ATMs:

Fee-free at PriorityOne Bank ATMs

Interest on balance:

Up to 0.10% APY on savings accounts
Up to 1.00% APY on CDs
Up to 0.20% APY on money market accounts

Additional perks:

Check Buy-Back program pays for unused check and debit cards from your previous bank
Variety of banking options for small business owners

11. Trustmark National Bank

Another option is Trustmark National Bank, which is headquartered in Jackson. Although Trustmark National Bank qualifies as one of the big banks, it’s confined to the Southeast U.S., with 180 branches, ATMs, and ITMs.

You’ll enjoy a free checking account as long as you make at least 15 debit transactions monthly, receive at least $100 in electronic deposits monthly, or keep an average balance of $1,500. Trustmark National Bank also currently has account options for both students and small business owners.

Fees:

$10 monthly fee (waived with requirements)
$36 fee for overdrafts

Balance requirements:

$50 minimum opening deposit
No minimum daily balance required

ATMs:

Fee-free at Trustmark National Bank ATMs
$2.50 for each non-Trustmark National Bank ATM withdrawal

Interest on balance:

Rates not publicly disclosed

Additional perks:

$50 bonus for opening Trustmark National Bank student checking account
Banking options for small business owners available

12. First State Bank

Another community bank option is First State Bank, which has multiple branches in Waynesboro, as well as in Ellisville, Laurel, Leakesville, Lucedale, Meridian, Quitman, and State Line. There are multiple checking options, but the best checking account if you’re looking for a fee-free option is Kasasa Cash Checking.

Although there’s no opening deposit, you’ll have no monthly fees. Best of all, it’s a rewards checking account. You’ll also earn up to 1.00% APY on your balance.

Fees:

No monthly fees
$37 fee for overdrafts

Balance requirements:

$100 minimum opening deposit
No minimum daily balance required

ATMs:

Fee-free at First State Bank ATMs
Up to $25 in out-of-network ATM fees refunded each cycle

Interest on balance:

Up to 1.00% APY on checking account
Up to 0.25% APY on savings account

Additional perks:

Rewards checking account with no monthly fees
Travel and Leisure Club open to account holders aged 50 and over

How We Determined the Best Banks in Mississippi

Personal preferences can vary widely when it comes to a bank account. For that reason, we looked at a variety of options, including national bank branches in Mississippi and small but powerful local options.

The banks we looked at had as many as six different checking accounts and four different savings accounts. To make a fair comparison, we looked at the simplest checking account at each bank. However, in your search, you may be willing to pay a monthly fee or maintain a high minimum daily balance in exchange for features like high interest rates and cash back rewards checking account options.

We also looked at rates on savings accounts, CDs, and money markets, but if you’re interested in those features, you may want to compare the minimum opening deposit, required balance, and fees that go with those account types.

Finding Your Ideal Checking Account

If you’re shopping for a bank, chances are you want a place to park your paycheck. From there, you can add on the savings accounts and other financial products you want. Here are some things to consider as you’re researching banks in Mississippi.

Big Banks vs. Online Banks

There are benefits to a big bank with physical branches across the country. You’ll typically see a large number of checking options, which means you’re likely to find the best checking account to fit your needs. Having access to cash and in-person customer service while you’re traveling is also a big bonus.

But there are benefits to an online bank account as well. Since a free debit card is a standard feature on both online and traditional bank accounts, mobile banking is often as full-featured as a brick-and-mortar financial institution. If you’re concerned about cash access, many checking accounts now feature partnerships with national ATM networks that let you withdraw cash without paying extra account fees.

Difficult to Meet Fee-Waiver Requirements

Free checking accounts sometimes come with requirements. This may be maintaining a balance every day. That means the monthly fees will kick in if your account ever drops below that minimum.

These days, though, many banks offer an alternative to that balance minimum. The best checking accounts also allow you to waive the fee by receiving a certain number of electronic deposits each month. If your paycheck or government benefits check goes into your account once or twice a month, this should qualify you for fee-free checking.

Access to Mobile Banking Services

What matters in a bank is what you can do through your mobile device. It’s important to not only look for features like bill pay and remote check deposit, but also check to see if an account offers budgeting tools and financial advice services. This is where some banks stand out. Online-only banks and large, corporate banks may have state-of-the-art mobile services, while small banks may struggle to keep up.

When you’re looking for the best checking accounts and savings vehicles, it’s important to consider the features you need, then look for the account that will fill those needs. National banks, regional banks, credit unions, and local banks each have their own benefits. But the best banks in Mississippi are the ones who give you the conveniences you need, whether you’re traveling or staying close to home.

Chime is a financial technology company, not a bank. Banking services and debit card provided by The Bancorp Bank N.A. or Stride Bank, N.A.; Members FDIC. Credit Builder card issued by Stride Bank, N.A.

1. Out-of-network ATM withdrawal fees may apply with Chime except at MoneyPass ATMs in a 7-Eleven, or any Allpoint or Visa Plus Alliance ATM.

3. The Annual Percentage Yield (“APY”) for the Chime Savings Account is variable and may change at any time. The disclosed APY is accurate as of May, 22, 2023. No minimum balance required. Must have $0.01 in savings to earn interest.

5. Chime SpotMe is an optional, no fee service that requires a single deposit of $200 or more in qualifying direct deposits to the Chime Checking Account each at least once every 34 days. All qualifying members will be allowed to overdraw their account up to $20 on debit card purchases and cash withdrawals initially, but may be later eligible for a higher limit of up to $200 or more based on member’s Chime Account history, direct deposit frequency and amount, spending activity and other risk-based factors. Your limit will be displayed to you within the Chime mobile app. You will receive notice of any changes to your limit. Your limit may change at any time, at Chime’s discretion. Although there are no overdraft fees, there may be out-of-network or third party fees associated with ATM transactions. SpotMe won’t cover non-debit card transactions, including ACH transfers, Pay Anyone transfers, or Chime Checkbook transactions. See Terms and Conditions.

Source: crediful.com

Apache is functioning normally

June 11, 2023 by Brett Tams

Let’s learn more about “Triumph Bank Home Loans,” a Tennessee-based community bank that is also one of the larger mortgage lenders in the nation.

At last glance, the company referred to itself as a top-15% lender in the country based on recent HMDA data, with more than a half billion in loan volume annually.

But despite growing larger over the years, their mission remains the same – to provide personalized service and help their customers triumph, whether they’re buying a home or refinancing an existing mortgage.

They say their approach involves less bureaucracy and overhead, which gives them the ability to deliver great rates AND great service. Time to dig into the details.

Triumph Bank Home Loans Fast Facts

Community bank that offers home purchase loans and refinances
Founded in 2006, headquartered in Collierville, Tennessee
Lend in every state other than California and New York
A top-15% mortgage lender in the country based on HMDA data
Have served more than 13,000 families since 2013 (fund $600+ million annually)

As noted, Triumph Bank Home Loans is an FDIC-insured community bank, meaning aside from originating home loans, they also offer savings accounts and small business loans to their customers.

They also operate both a retail and consumer-direct channel for their home loan business, meaning you can apply online and work remotely with a loan originator.

Or visit one of their retail branches in the Memphis or Nashville area to do business in person if you prefer.

They do an almost equal mix of home purchase loans and refinance loans, meaning they could be a good choice for both prospective home buyers or existing owners looking for a better rate and/or cash out.

While they lend everywhere other than California and New York, they seem to do the most business in their home state of Tennessee, along with Georgia, North Carolina, Florida, and Colorado.

About 80% of the loans they originate are conventional, conforming backed by Fannie Mae or Freddie Mac, but they also offer jumbos and government-backed loans as well.

Since 2013, they’ve helped 13,000+ families get a home loan and are a top-15% mortgage lender nationally, funding more than half a billion in loan volume annually.

How to Apply with Triumph Bank Home Loans

You can either call them directly or fill out a free rate quote form on their website
When ready you can apply online via their streamlined digital mortgage process
Their operations team will process, underwrite, and fund your loan in-house
And a dedicated loan officer and support team will be with you every step of the way

Triumph Bank says it offers a simple and fast application process, which can be completed in the palm of your hand via smartphone or on a desktop computer.

They employ the latest cutting-edge technology, but retain the personal touch of a community bank, meaning you get white-glove service from an actual human team along the way.

To get started, you can call them directly, visit their website, or go to a physical branch if one is located near you.

Once at their website, you’ve got the option of requesting a rate quote or simply diving into the application.

I always recommend discussing pricing and products first with a loan officer to ensure they have what you’re looking for, and are competitively-priced.

Assuming they have what you need, you can complete much of the application process electronically, whether it’s eSigning disclosures or uploading documentation.

One plus to using them is the fact that their operations team will process, underwrite, and fund your loan in-house, as opposed to sending your paperwork elsewhere.

This should speed up the process and improve communication and overall efficiency, resulting in a better user experience.

Loan Programs Available at Triumph Bank Home Loans

Home purchase loans
Refinance loans: rate and term, cash out, and streamline
Home construction loans
Renovation loans
Conforming loans
Jumbo loans
FHA loans
VA loans
USDA loans
HELOCs
Fixed-rate and adjustable-rate options available

While you won’t find a product menu on their website, they appear to offer just about any type of home loan you could ask for.

This includes home purchase loans, mortgage refinances, and renovation loans, such as Fannie Mae HomeStyle or the FHA 203k loan program.

Additionally, you can get your hands on a conforming loan backed by Fannie Mae or Freddie Mac, a jumbo loan that exceeds county loan limits, or a government-backed loan, such as a VA or USDA loan.

Their retail bank offers home equity lines of credit (HELOCs) and portfolio mortgages as well, which may or may not be available in all states via the consumer-direct channel.

They appear to lend on all major residential property types and occupancy types, such as a single-family home, condo/townhouse, or multi-unit investment property.

Both fixed-rate and adjustable-rate mortgage options are available, including 30-year and 15-year fixed programs, along with the 5/1 and 7/1 ARM.

Triumph Bank Home Loans Mortgage Rates

While they don’t post their daily mortgage rates online, Triumph Bank Home Loans does say it offers mortgage interest rates below the national average.

Specifically, their 30-year fixed rate for conventional loans was 0.29% lower than the average from the Ellie Mae Origination Insight Report over a 17-month period from 2019 to 2020.

You might also come across their mortgage rates on comparison websites like Bankrate, where they appear to be some of the lowest listed among the many other lenders there.

They seem to charge a $995 loan origination fee, though loans can be structured at no cost using a lender credit as well.

All in all, their mortgage rate pricing seems to be comparable to other online mortgage lenders, and thus cheaper than the big banks and name brand lenders out there.

Triumph Bank Home Loans Reviews

On Zillow, they have a commendable 4.81-star rating out of 5 from about 200 customer reviews, with quite a few mentioning that the interest rate and/or lender fees were lower than anticipated.

At Bankrate, Triumph has a 4.7-star rating from over 100 reviews and 93% of customers would recommend them to others.

Additionally, they’ve got a stellar 4.9-star rating on Google from more than 300 reviews, along with a perfect 5-star rating on Facebook from 50+ reviews.

Lastly, they are an accredited business with the Better Business Bureau (since 2006), and have an ‘A+’ rating based on customer complaint history, which appears to be complaint-free.

In summary, Triumph Bank Home Loans seems to excel in both home purchase lending and mortgage refinancing, so they could be a good fit for new buyers and existing owners.

They also appear to have a very wide range of mortgage options to fit all different loan scenarios, which is a plus if you’re in need of something more unique.

And because all aspects of the loan process are completed in-house, you should be able to close quickly and efficiently.

Triumph Bank Home Loans Pros and Cons

The Good

Offer a digital home loan application process
Can apply for a mortgage without human assistance
Say they offer mortgage rates below the national average
All loan processing, underwriting, and funding is completed in-house
Tons of different loan programs to choose from
Lots of excellent reviews from past customers across all ratings websites
Free mortgage calculators, first-time home buyer toolkit, and learning center on their website

The Maybe Not

Don’t lend in California or New York
Mortgage rates and lender fees aren’t listed on their website

Source: thetruthaboutmortgage.com

Apache is functioning normally

June 11, 2023 by Brett Tams

When it comes to smart money decisions, understanding a ledger balance is key. A ledger balance is an important tool for small business owners and investors that helps track their financial health in real-time. It’s the foundation of any successful budgeting or investing strategy, but how exactly do you calculate your own? In this article, we’ll discuss what a ledger balance is, why it matters and how to calculate yours accurately – so you can make better-informed money decisions!

What’s Ahead:

What is a Ledger Balance?

A ledger balance is a record of all the financial transactions that have taken place in an account. It is used to track and monitor the money coming into and out of an account, such as income, expenses, investments, loans, etc. You can use the ledger balance to determine how much money is available for spending or investing at any given time.

Definition of a Ledger Balance

A ledger balance summarizes all financial activity within an account over a certain period. It shows the total amount owed (debits) versus the total amount received (credits).

Components of a Ledger Balance

The components of a ledger balance include debits and credits from various sources, such as deposits, withdrawals, transfers between accounts, or payments for goods/services. Debits are amounts subtracted from your account, while credits are amounts added.

For example, if you make two payments on your credit card bill totaling $200 each month, your debit would be $400 ($200 x 2). If you also deposit $500 into your checking account during this same period, your credit would be $500 ($500 x 1). Your net ledger balance after these transactions would be +$100 ($500 – 400 = +$100). This means that you now have an extra $100 in your checking account compared to before these transactions took place.

A ledger balance is integral to understanding your financial situation and making smart money decisions. In the next section, we’ll discuss using a ledger balance to help you make informed decisions about your finances.

Benefits of Maintaining a Ledger Balance

Maintaining a ledger balance is essential to the financial organization and record keeping. It can help you keep track of your finances, save time when preparing taxes, and ensure accuracy in all your financial transactions.

Improved Financial Organization

A ledger balance helps you stay organized by tracking all the money in and out of your accounts. You can easily view where each dollar goes and how much you have left to spend or save for future goals. This will give you a better understanding of your overall financial picture so that you can make informed decisions about spending, saving, investing, etc.

Accurate Record Keeping

By maintaining a ledger balance, you can accurately document every transaction made from each account – income or expenses – making it easier to audit if needed. This also allows for more efficient tax preparation since everything is already documented in one place instead of searching multiple documents for the same information.

Easier Tax Preparation

When filing taxes with accurate records on hand, such as those found in a ledger balance, it eliminates any guesswork or potential errors that could occur while manually entering data into forms or spreadsheets used during tax season. This information readily available saves time when filing taxes because there is no need to go back and look up specific details regarding certain transactions throughout the year; they are already recorded within the ledger balance!

By maintaining a detailed ledger balance throughout the year, individuals and small business owners can benefit from improved financial organization, accurate record-keeping practices, and easier tax preparation processes come April 15th. These benefits will help ensure that all finances are properly tracked and documented for future reference and provide an efficient way to file taxes without any guesswork or potential errors.

Maintaining a ledger balance is essential to keeping your finances organized and up-to-date. In the next section, we’ll discuss setting up a ledger balance and tracking your transactions.

The Gist: Maintaining a ledger balance is essential to the financial organization and record keeping. It can help you stay organized, accurately document transactions, and simplify tax preparation: • Improved Financial Organization • Accurate Record Keeping • Easier Tax Preparation. A detailed ledger balance throughout the year provides individuals and small business owners with efficient ways to track finances, ensure accuracy in all their financial transactions, and save time when filing taxes.

How to Calculate Your Ledger Balance

It helps you stay organized and keep accurate records, making tax preparation easier. Knowing how to calculate your ledger balance is essential for small business owners and investors. Here’s what you need to know about calculating your ledger balance:

Step 1: Gather All Relevant Financial Documents

The first step in calculating your ledger balance is gathering all the relevant financial documents related to the account or accounts you want to track. This includes bank statements, credit card bills, investment portfolios, loan agreements, etc. Make sure all these documents are up-to-date so that you have an accurate picture of where you stand financially.

Step 2: Add Up All Debits and Credits

Once you have gathered all the necessary documents, it’s time to add up all debits and credits associated with each account or transaction. A debit is any money taken out of an account, while a credit is any money put into an account (including interest earned). When adding debits and credits for each transaction or account, be sure to include fees and taxes paid on investments, if applicable.

Step 3: Subtract Debits from Credits To Get The Final Amount

After adding debits and credits for each transaction or account, it’s time to subtract them from one another to get the final amount owed or due on each item/account/transaction listed in Step 1 above. For example, if there were $500 worth of debits associated with a particular bank statement, subtracting this number from $1000 worth of credits would give us a total remaining balance due on that particular statement of $500 ($1000 -$500 = $500). Once we do this for every document we gathered in Step 1, our overall ledger balance should be accurately calculated!

Knowing how to calculate your ledger balance can help ensure everything adds up correctly when it comes time to file taxes or make other financial decisions, such as investing in stocks and bonds. Keeping track of income versus expenses will also help small business owners budget accordingly, so they don’t overspend beyond their means.

Once you have gathered all your financial documents, added up the debits and credits, and subtracted them to get the final amount, you will be able to calculate your ledger balance. Next, we’ll look at how to use this information to make intelligent money decisions.

The Gist: Calculating your ledger balance is integral to managing finances. It helps you stay organized and make accurate records for tax preparation, budgeting, and investing decisions. Here are the following steps: 1. Gather all relevant financial documents 2. Add up all debits and credits 3. Subtract debits from credits to get the final amount owed or due

Tips for Maintaining an Accurate Ledger Balance

Maintaining an accurate ledger balance is essential for any individual or business to ensure their financial records are up-to-date and accurate. Here are some tips that can help you stay on top of your finances:

Keep Track of All Transactions Regularly

It’s essential to keep track of all incoming and outgoing transactions to understand where your money is going clearly. This includes recording deposits, withdrawals, transfers, bills paid, etc. Doing this regularly will help you stay organized and prevent errors from slipping through the cracks. Additionally, reviewing these transactions periodically ensures everything adds up correctly.

Double Check Your Math Before Finalizing Entries

When entering numbers into your ledger balance sheet or other financial documents, it’s always best practice to double-check your math before finalizing entries. Even if you think something looks correct at first glance – take the extra time to verify accuracy by running calculations twice just in case you made any mistakes. This will save you time and energy when reconciling accounts or preparing tax returns!

Utilize Automated Accounting Software When Possible

Technology has come a long way in recent years, making tracking finances more manageable! Utilizing automated accounting software such as QuickBooks or Xero can be extremely helpful when managing multiple accounts simultaneously, as they provide real-time updates with each transaction entered into them. Not only does this save time, but it also helps reduce the human error associated with manual entry processes – making it much more efficient overall!

Overall, maintaining an accurate ledger balance is key for anyone looking to manage their finances properly and efficiently over time – whether they’re a small business owner or simply trying to budget better personally. By following these simple tips outlined above (keeping track of all transactions regularly, double checking math, utilizing automated accounting software), individuals should be able to set themselves up for success in no time.

Maintaining an accurate ledger balance is essential for making sound financial decisions. With these tips, you can stay on top of your finances and make smart money moves.

The Gist: Maintaining an accurate ledger balance is essential for any individual or business to keep their financial records up-to-date and accurate. To do this, it’s vital to • Keep track of all transactions regularly • Double check math before finalizing entries • Utilize automated accounting software when possible By following these tips, individuals can set themselves up for success in managing their finances efficiently over time.

The Importance of a Ledger Balance for Small Business Owners and Investors

A ledger balance is integral to managing your finances, especially for small business owners and investors. A ledger balance is the total amount of money combined in all accounts. It’s calculated by subtracting all debits from credits to get the final amount. A clear understanding of your ledger balance can help you make better financial decisions and stay on top of your finances.

Why It Matters for Small Business Owners

For small business owners, having an accurate record of their ledger balance is essential to running their businesses efficiently and effectively. Knowing exactly how much money they have in each account helps them plan for budgeting, taxes, payroll, and other expenses. Additionally, keeping track of their ledgers allows them to quickly identify any discrepancies or errors so they can be addressed immediately before they become more significant problems.

Why It Matters for Investors

Investors also need to keep close tabs on their ledger balances because it gives them insight into how well their investments perform over time. By regularly monitoring changes in their ledgers, investors can determine if certain investments are worth continuing or if adjustments need to be made based on current market conditions or other factors that may affect returns on investment (ROI). This information can then be used as a guide when making future investing decisions.

Overall, a good understanding of one’s ledger balance is critical for small business owners and investors alike, as it provides valuable insights into where funds are coming from and going at any given moment in time. This ultimately leads to more informed decision-making about personal finance management strategies.

A clear understanding of your ledger balance is essential for small business owners and investors alike, as it allows them to make informed decisions about their financial future. Next, we’ll discuss why it matters for small business owners.

The Gist: A clear understanding of your ledger balance is essential for small business owners and investors. It allows them to keep track of all their accounts, quickly identify discrepancies or errors, monitor investments’ changes over time, and make more informed decisions regarding budgeting, taxes, payrolls, and other expenses. Key takeaways include: • Subtracting debits from credits to get the total amount • Monitoring ledgers regularly for any discrepancies or errors • Keeping track of investments’ performance over time • Using ledger information as a guide when making future investing decisions.

FAQs about What Is a Ledger Balance

Can we withdraw money from the ledger balance?

No, you cannot withdraw money from your ledger balance. Ledger balances are a record of the transactions that have occurred in an account and do not represent actual funds available for withdrawal. You must transfer funds to another account or use a payment method such as a debit card or check to access funds.

How long does the ledger balance take to be available?

The availability of a ledger balance depends on the financial institution you are using. Generally, most banks and credit unions will update your account information within 24 hours. However, if you have recently made a deposit or withdrawal from an ATM, it may take up to 3 business days for the transaction to be reflected in your ledger balance. Additionally, suppose you have recently transferred funds between accounts at different institutions. In that case, it could take up to 5 business days for the transfer to be completed and reflected in your ledger balance.

How do I make my ledger balance available?

The best way to make your ledger balance available is to use online accounting software such as QuickBooks or Xero. These programs allow you to easily track and monitor your financial transactions, giving you a real-time view of your current finances. Additionally, they provide helpful features like budgeting tools and automated reminders to help you stay on top of your money management goals. With these services, you’ll be able to quickly access and review your ledger balance whenever needed.

Can I transfer the ledger balance to the bank account?

Yes, you can transfer your ledger balance to a bank account. This is typically done through an online banking platform or app. It’s important to double-check the transaction details before confirming it, as mistakes may be costly and time-consuming to fix. Additionally, there may be fees associated with transferring money from one account to another, so understand those costs beforehand.

Conclusion

It allows you to track your financial activity and make informed decisions about where to invest or how much money to allocate for certain expenses. By understanding the basics of calculating and maintaining a ledger balance, you can ensure that your finances are in order and that you’re making smart money decisions. So take some time today to review your ledger balance and get on the path toward financial success!

Source: moneyunder30.com

Apache is functioning normally

June 11, 2023 by Brett Tams

As many as one in three Americans have criminal records. And since most employers run background checks on potential candidates, these records can be a considerable impediment for those previously convicted of a felony.

In fact, according to the Sentencing Project, more than 60% of formerly incarcerated individuals are unemployed one year after being released

Therefore, starting and running a business may be a suitable way of earning income. Although formerly incarcerated individuals can still face challenges as entrepreneurs, a variety of small-business grants and additional resources can help.

How Much Do You Need?

with Fundera by NerdWallet

Grants for people previously convicted of a felony

Unlike small-business loans, grants provide free funding that doesn’t need to be repaid. Grants can be a particularly good option for formerly incarcerated entrepreneurs who don’t want to take on debt or have trouble qualifying for debt financing.

It’s important to keep in mind that finding and applying for small-business grants is time-consuming and entries are competitive. If you dedicate the necessary time and effort, however, you may be able to access free capital for your business.

Nonprofit and corporate grants

Formerly incarcerated individuals can get business grants from corporations and nonprofit organizations. Some nonprofits even offer second-chance entrepreneurial programs — in other words, training and funding opportunities designed specifically for previously incarcerated people.

Rise Up, Get Started Grant Program

Determination, Incorporated, a nonprofit organization based in Kansas City, Missouri, that helps formerly incarcerated individuals start and grow their own businesses.

Through the organization’s Rise Up, Get Started initiative, business owners can participate in a year-long program where they receive coaching, mentoring and community support. Entrepreneurs will also have assistance writing a business plan and creating a budget.

At the conclusion of the program, participants will have $300 saved for their business — and Determination, Incorporation will award a $750 grant on top of these savings.

The nonprofit organization also runs an in-prison Back to Business workshop, which helps incarcerated individuals develop a business plan so that they can get started quickly upon release.

Georgetown Pivot Program

The Georgetown Pivot Program is a full-time, one-year program designed to help formerly incarcerated individuals develop the skills to succeed in a business and professional environment.

Over the course of the program, participants will attend classes, receive an internship placement and get the opportunity to develop their own business idea. Each participant will present their business idea at the Pivot Pitch Competition for a chance to win startup funding. In 2022, participants were awarded a total of $15,000 in grant money.

To qualify, participants must be 25 years or older with a high school or a GED diploma who were last incarcerated within the past five years. Preference is given to Washington, D.C., residents.

The Transform Business Grant

The Transform Business Grant is open to business owners in systemically oppressed groups, including formerly incarcerated people. In addition to $1,000 microgrant, recipients will also be awarded a customized, year-long business strategy and development program. The next grant cycle runs from July 20-August 20, 2023.

LEAP Virtual Entrepreneurial Academy

LEAP is a nonprofit organization based in Florida that works with previously incarcerated women and helps them as they transition back into society. The LEAP Virtual Entrepreneurial Academy is a program that runs twice per year and teaches business skills to its participants.

Over a three-month period, students attend classes twice per week, and at the conclusion of the program, they pitch a business plan to a panel of entrepreneurs for an opportunity to win cash prizes. Graduates are also eligible to apply for a $1,000 microloan.

To qualify, you must be a formerly incarcerated woman who has access to a computer. LEAP covers all program costs through funding from its sponsors.

Amber Grant

Although not designated exclusively for previously incarcerated individuals, the Amber Grant is another great funding option for women entrepreneurs. The nonprofit organization WomensNet offers several grant opportunities to businesses that are at least 50% women-owned, including the $10,000 monthly Amber Grant and the $25,000 annual Amber Grant.

WomensNet also issues a startup-dedicated grant, a nonprofit-dedicated grant and business category grants. Each month, the organization offers a $10,000 grant to a company in a specific industry — in July, for example, the funding is awarded to an animal services business.

You can apply for all of these grants by submitting one simple application through the Amber Grant website.

NASE Growth Grant

The National Association for the Self-Employed (NASE), provides growth grants of up to $4,000 to small businesses on a quarterly basis. To be eligible for one of these grants, however, you must be a NASE member.

The organization offers several different membership options (which include additional benefits, such as expert advice and product discounts) and does not exclude formerly incarcerated individuals from joining.

Once you become a member, you can apply for a grant through the NASE website. Monthly members, however, will have to wait 90 days before they can apply. For the application, you’ll need to provide a business plan and explain why you need the funds and how you’ll use the money.

Incfile Fresh Start Business Grant

Grant winners will receive Incfile’s Gold plan for free, which includes incorporation services in your state, free registered agent services for a year and a free tax consultation. You’ll also receive a $2,500 grant.

To apply, you must complete an online application, create a two-minute video explaining how entrepreneurship will impact your life and submit a sample business plan. Incfile accepts applications three times per year.

Government grants

Individuals previously convicted of a felony can also get business grants from the federal government, as well as state and local governments. Here are some options to consider:

Grants.gov

Grants.gov is a database of federal small-business grants available to all types of entrepreneurs, including formerly incarcerated individuals. This database offers access to over 1,000 grants administered by 26 government agencies, such as the Department of Energy, Department of State and Department of Transportation.

To apply, you’ll need to register your business using the System Award Management platform and get a unique entity identification number. Once you have your number, you can create an account on Grants.gov to submit your grant applications.

Economic Development Offices

Most states and many cities have economic development offices, which are dedicated to promoting and supporting local businesses. Through your regional office, you’ll likely be able to find information regarding government funding solutions, training programs and tax incentives.

Maine’s Office of Business Development, for example, provides a variety of grant opportunities, including options that finance recreation businesses, local tourism, agriculture and food businesses, among others.

Additional resources for people previously convicted of a felony

Entrepreneurial training programs and other tools can be extremely beneficial for individuals previously convicted of a felony looking to start or grow their businesses — even if they don’t necessarily provide free funding. Finding organizations that focus on helping the formerly incarcerated transition back into society through entrepreneurship can be particularly useful.

Here are some available resources:

Help For Felons

The website HelpForFelons.org provides a wide variety of resources for those who were convicted of felonies, as well as other previously incarcerated individuals. Through the site, you can find job postings, legal information and housing options. You can also access lists of personal and business grants, loans and other forms of financial assistance.

Inmates to Entrepreneurs

Inmates to Entrepreneurs is a nonprofit organization whose mission is to help people with criminal backgrounds launch their own businesses. The organization offers free online and in-person courses to give would-be entrepreneurs the business education they need to get started.

Defy Ventures

Defy Ventures administers several second-chance programs with the goal of helping formerly incarcerated individuals succeed in their new lives and decrease the rate of recidivism. Through Defy Ventures, potential entrepreneurs can participate in an entrepreneur boot camp or a business accelerator. Through these programs, they gain the skills they need to launch and grow a business.

Project ReMADE

Project Remade is an entrepreneurship training program run by Stanford Law School. This program teaches formerly incarcerated individuals basic business skills and introduces them to professionals in the business community.

Between classes, students meet with mentor teams who help them develop a potential business plan. Mentor teams consist of one Stanford Law Student, one Stanford Graduate School of Business student and one Silicon Valley professional.

At the conclusion of the program, entrepreneurs present their business plans before a panel of executives and microdevelopment organizations.

Entre Capital

For entrepreneurs who are still looking for financing, Entre Capital is a community development financial institution (CDFI), specifically devoted to providing capital to second-chance businesses. The organization only funds previously incarcerated individuals, offering them loans to start or expand their operations.

Entre Capital also offers assistance with business planning, budgeting and financial reporting, as well as mentorship resources.

Refoundry

Refoundry is an incubator program based in Brooklyn, New York. Through this program, formerly incarcerated individuals are taught to repurpose reclaimed materials into home furnishings. As they develop these skills, Refoundry mentors also teach participants how to build a resume, succeed in an interview and start their own business.

Small Business Development Centers

Small Business Development Centers (SBDCs) are SBA-sponsored centers that provide free or low-cost training and assistance to new and existing businesses. These centers are typically hosted by local colleges or universities, as well as state economic development agencies. SBDCs often maintain lists of funding opportunities in your area and can help you find and apply for the best options for your needs.

Frequently asked questions

Are there grants for those convicted of felonies to start their own businesses?

Yes. Formerly incarcerated individuals may be able to get startup business grants from the federal government and their state or local government. Some organizations, like the National Association for the Self-Employed, also offer grants for startup businesses.

How do you get a business grant as a formerly incarcerated individual?

As a formerly incarcerated individual, you can search and apply for grants related to your business. These grants may be available from the government, nonprofit organizations or large corporations. Before applying, you should ensure you meet all of the eligibility criteria, such as industry, time in business and specific need for funds.

Are there SBA grants for those convicted of felonies?

The SBA doesn’t usually offer grants directly to any small-business owners. Instead, it grants nonprofits and community organizations that promote and support entrepreneurship. Alternatively, you might consider an SBA loan. Individuals with a felony record are not excluded from applying but will need to provide a completed fingerprint card.

Source: nerdwallet.com

Apache is functioning normally

June 11, 2023 by Brett Tams

What to look for in a business checking account

When you see an advertisement for a “free” business checking account, most of the time it’s not entirely “free.” After all, for these banks to stay in business, they have to make money off of you somehow!

A top priority in our list was to include banks that offered competitive business checking accounts for freelancers, small business owners, entrepreneurs, and growing businesses. Business checking accounts typically won’t provide account holders with an opportunity to earn interest and they’ll charge slightly higher fees, so our list focuses on those banks that keep their fees to a minimum and also highlights some that offer interest.

Even so, it’s important to always read the fine print before signing up for a new checking account. Here are the most important features to consider in a business checking account:

Balance and deposit requirements

Some banks charge a monthly fee if your business checking account’s balance falls below a certain threshold. It’s calculated on an average, by day, so as long as you’re maintaining a certain level of money in the account you should be fine. A bank may also require a minimum initial deposit, which may disqualify you from opening the account if you don’t have the money available.

On the flip side, some banks will actually reward you for having a high balance, much like they do with a personal checking or savings account (typically a higher interest rate). With business checking accounts, you may get a higher interest rate or even a reduction (or elimination) of some fees by carrying a large balance.

If you don’t see anything in the fine print about high-balance bonuses, then contact a service representative to see if they’re willing to give you a break if you agree to keep your balance above a certain amount.

Monthly maintenance fees

Monthly maintenance fees don’t exist with every business checking account. And those that do require a monthly fee may offer account holders an opportunity to waive the fee (typically by maintaining a minimum account balance). On average, these fees are typically $10-$15, but in some cases, they can jump as high as $50.

Before you sign up for a business checking account, confirm if there’s a monthly maintenance fee. If there is, see if there is an option to waive the fee by maintaining a minimum account balance or ask to have the fee waived.

Monthly transaction limits

With a business checking account, most banks will put a limit on the number of transactions you make every month. Seems kind of backward, doesn’t it? With a personal checking account, you’re often encouraged to make unlimited transactions, not limit them.

Limits placed on account transactions also don’t apply to just debit card charges. It usually includes things like deposits (both check and cash), withdrawals, checks written, and payments you make electronically.

Most banks will put a limit of up to 500 transactions, depending on the bank. On average, though, you typically won’t see a limit below 100 transactions per month. Expect the fees to be as high as 50 cents per transaction over the stated limit. That’s like a 25% surcharge on a $2.50 coffee.

It is possible to find unlimited transactions with a business account, but not easily. Some banks may offer an unlimited transactions option for a higher monthly fee, or you could find a bank that doesn’t have a limit on transactions at all. However, you’ll likely have to pay a higher monthly fee if you go that route. Alternatively, you could keep track of your transactions and stay below the allotted amount each month to avoid paying any monthly fee requirements.

What are the benefits of having a business checking account?

1. It keeps your personal and business finances separate

While technically (and legally), you can use a personal bank for your small business, it isn’t recommended.

That’s because mixing the two can make it difficult to track your income and expenses. And if you accidentally pay personal expenses from a business account, those expenses are subject to taxes and can convolute your books.

It’s best to have a separate, business-only bank account where you can do all of your business banking and ensure it’s kept separate from your personal finances.

Read more: How to separate your personal and business finances (and why you should)

2. It can help you manage your cash flow more effectively

Cash flow is the lifeblood of any business. If you can’t manage your cash flow effectively, your business will inevitably fail. That’s why finding the best business checking accounts is so important — so you can keep track of your incoming and outgoing cash. With these checking accounts, you can easily track your expenses and income, which can also help you get a loan for your business, if needed.

3. It can help you build business credit

One of the most important things you can do for your business is build credit. When you have good business credit, you’ll have a better chance of qualifying for a loan or line of credit should you ever need them. It can also help you get better terms on those loans.

One of the best ways to build business credit is to open a business bank account. When you have a business bank account, it shows that you’re a legitimate business and helps build your credit history. If you’re thinking about opening a checking account, make sure you choose a bank that reports to the major credit bureaus, so you can build your business credit history every time you make a deposit.

Read more: How to build and establish business credit

4. It can offer additional perks, such as rewards programs or interest-earning potential

The best business checking accounts will also often offer additional perks that can help your business. For example, some banks offer rewards programs that give you cash back or points for every purchase you make. Others may offer interest-bearing accounts, which can help you earn money on your deposited funds.

What do you need to open a small business checking account?

There are a few requirements you’ll need to open a business checking account, which may (or may not) include:

A business license or incorporation documents – The business account will need to be opened in the name of your business. This is why it’s important to have your business license or incorporation documents handy.
Your Employer Identification Number (EIN) – Your EIN is a nine-digit number that is assigned to a business, also known as a federal identification number.
A government-issued ID – Your driver’s license will typically meet this requirement.

The bottom line

It shouldn’t matter if you’re an established small business or a brand new blog. If you have a business, you’re a business owner. As such, you should find one of the best business checking accounts on the market to keep your personal and professional finances separate.

Every business has different needs, and every bank account offers different services and features to meet those needs. Before you sign up for a business checking account, be sure to do your research. Look for details like fees and transaction limits. See if you can find an account that offers interest or cash back. Consider multiple options to make sure you find the account that best suits your business.

Featured image: Cast Of Thousands/Shutterstock.com

Source: moneyunder30.com

Apache is functioning normally

June 10, 2023 by Brett Tams

This post may contain affiliate links, which helps us to continue providing relevant content and we receive a small commission at no cost to you. As an Amazon Associate, I earn from qualifying purchases. Please read the full disclosure here.

It is no secret that the internet is changing how money is made forever.

This has caused a boom in many businesses and people the ability to make money online, which is a huge benefit for you!

This trend will only continue as technology improves. If it feels daunting to jump onto this new bandwagon right now, don’t worry; we have some tips that can help you double your 10k in the next few weeks or years.

I am going to show you how to double your money so that you can retire early, pay off debt and invest in the stock market.

A lot of people would say this is impossible, but I’m not just showing it–I’m proving it!

We all have said it takes money to make money and while that is true. It is easy to start doubling your money with just $10K.

What if, right now, you decided to double your 10K by the end of the year? Maybe, you want to hit a major goal and make a huge change in only 8 short weeks?

Making money is not a difficult task. Too often, people become impatient and think that they can simply make money without putting in the effort. This is not true.

Cash is a tool and nothing more. Once you understand this concept, you can begin to figure out how to make more money. Additionally, it’s important to appreciate that it takes time to make money – don’t expect to become a millionaire overnight.

Here is a realistic guide to help you work towards that goal.

Be sure to decide which strategic way to double $10k quickly works best for your personality.

The 10K of your dreams seems impossible.

How can I double $10000 fast?

There is no one-size-fits-all answer to this question, as the best way to double your money will vary depending on your individual circumstances and goals. However, some general tips include developing a growth mindset around money, finding ways to make more money, and investing in yourself and your skills.

Keep in mind that $10,000 is not a lot of money to double in a short period of time.

How long does it take to double 10k?

The answer to this question is dependent on a number of factors.

The most important factor is the amount of time it takes for your investments to double.

If you are investing in stocks, you can quickly double 10K with an options contract within 2-3 days. If you are looking at other avenues, it will depend on how you choose to double your money.

Typically, people start seeing results in approximately 4 to 6 months to double 10k.

If your eyes are set on this, then make sure to write down one of the millionaire quotes for motivation.

What to do with 10k?

Now that you’ve earned an extra 10k, you may be wondering what to do with it.

You could save it, spend it, or invest it, but there are a few other things you could do as well.

Here are some ideas on how to make the most of your money and grow it even more.

How can I Double my Money?

There are many ways you can double your money in a short amount of time.

I am passionate about exploring the best ways to make money online. In this article, I will share some tips on how you can double your money relatively quickly. However, please keep in mind that these are general ideas to get you started.

Specifically How to Double 10k Quickly?

If you are serious about how to double your 10k fast, you will need to dedicate time on a regular basis to the tasks needed to reach your ambition. The key is to do it daily in order to keep the momentum of your progress going.

Earning money is a mindset.

To double 10k quickly, learn how to change your mindset about money.

Although doubling $10,000 may seem difficult, it can be done with the right approach.

If you have $10,000 and want to double it within a month or a few months, here are a few realistic strategies to help you reach your goal.

Idea #1 – Swing Trading with Stocks

Swing trading is a technique that allows investors to hold onto stocks for a period of time, typically two to four days. During this time, the trader watches for specific price patterns and buys or sells shares based on their analysis.

One former assistant principal, Teri Ijeoma, changed her life when she left her job as an educator and become an active trader.

Check out: My Personal Trade and Travel Review

This type of trading can be very profitable if done correctly, as it allows the trader to make twice their investment in a short amount of time.

The key is you must learn how to invest in stocks for beginners. This is one step many people overlook when they are focused on doubling their money. Either you will get lucky or you will have a huge loss. Take time and become educated on swing trading stocks.

Related Reading: How Fast Can You Make Money in Stocks?

Idea # 2- Cryptocurrencies

Cryptocurrency is a digital or virtual asset that uses cryptography for secure transactions. Cryptocurrencies are growing in popularity and may become a major part of society. Bitcoin, the first and most well-known cryptocurrency, has seen its value skyrocket in recent years.

Cryptocurrencies are often unstable because they are not regulated by any government or financial institution, and thus their value can change rapidly. However, the potential for reward is high, making cryptocurrency an attractive investment option. Because of this, cryptocurrency investments are often seen as riskier than traditional investments, but also have the potential for greater returns.

Before investing in cryptocurrency, do your research and be sure you understand the risks involved. There are many educational resources available to help you get started.

Idea # 3 – Flip Items for a Profit

Retail arbitrage is a practice where an individual or company purchases a popular product at a discounted price and then resells it for profit at another online retailer. This can be done on marketplaces like Craigslist, eBay, and Facebook Marketplace.

This is a great way to make some extra money on the side. You need some time and a willingness to invest, but if you find the right deals, you can make a good return on your investment.

Many people have great success by flipping items from auctions, free groups, or local goodwill store.

Check Out: Flea Market Flipping

Idea #4 – Resell Products on Amazon FBA

Amazon FBA is a service for independent entrepreneurs who want to start their own e-commerce business. They can offer products on Amazon and work with Amazon directly to fulfill orders, collect payments, and provide customer service. By doing this, they don’t have to worry about the inventory and can focus on other aspects of their business.

This is another avenue for selling your flipping treasures.

There are a few ways to make money through reselling products. You can either find products to sell on Amazon or Ebay, or you can dropship products from a supplier. If you want to find your own products to sell, you’ll need to do some research on what is selling well and what prices are competitive. If you want to dropship, you’ll need to find a supplier and create an account with them.

Idea #5 – Start a Business or Invest in a Franchise Company

Starting a business is not easy. It requires a lot of work and effort, but if you’re willing to put in the time and effort it can be very rewarding.

Starting your own business is one of the most difficult things you can do, but it’s also one of the most rewarding. There are many different businesses you can start that have low overhead costs, so it’s a great way to get started.

Think of the things you enjoy doing or any hobbies you have. Look for business opportunities that line up with your interests. Then, it makes working much easier.

Here are great ways to make money on the side:

It is possible to make more money on your business than you make more money in your current job or career.

Idea # 6 – Real Estate Portfolio

Real estate is a recession-proof business.

There will always be people who need to rent or buy dwellings in boom or bust economic times.

Real estate can be a lucrative investment, but it is not without risk. A lot of people have invested in real estate and lost money, but an investor who does their research and finds a good deal can make a lot of money.

Idea # 7 – Increase Your Income

If you’re not happy with your current income, don’t worry! You can increase it this year.

This is the year that many experts are predicting will see the biggest wage growth in years. So start planning now and you could see a significant increase in your take-home pay.

More than likely, this could be your seed money of $10k to fund the start to doubling your money and making $20k.

Related Reading: How Much Do I Make Per Year?

Idea #8 – Advertise and Gain Clients

If you are a small business owner, then this one is for you. Start advertising as a way to gain more customers.

There are a number of ways to make your services more accessible and appealing to potential clients. One way is to spend money on promotions and advertising. Advertising can be effective in reaching your goals, surpassing your double your money goal of $20,000 in revenue.

There is no doubt that advertising your services will increase the number of customers you have. The more people who know about your business, the more likely they are to use it. And as we all know, the more customers you have, the quicker you earn more money.

It’s a simple equation: More customers equals more money.

Idea # 9 – Invest in Stock Market – ETFs & Index Funds

Investing in the stock market is a process that requires careful consideration and research. Index funds have become an increasingly popular investment option for many investors. ETFs are known as Exchange Traded Funds, which are also a popular investment option.

Both index funds and ETFs provide investors with the ability to invest in a diverse range of stocks, making them ideal for any investor who is looking to diversify their portfolio.

Investing in an index fund is one of the best ways to build wealth over time.

This is probably the slowest way to make money quickly in the stock market, but it comes with less risk.

With a mutual fund, you are essentially investing in many different stocks, which means that you get to choose how much your investments grow each day. This can be a great way to ensure that your money is working for you – and growing – even when you’re not able to actively monitor it yourself.

Just to know, investing in bonds will eventually double your money, but it will take more time as the rate of return is less.

Idea #10 – Start a Mining Farm

Cryptocurrency mining is a process by which new coins are introduced into the market. In order to do this, miners use computers to solve complex mathematical problems in order to receive rewards in the form of new coins. A cryptocurrency mining farm is a way to pool together multiple computers in order to increase the chances of solving these problems and receiving rewards.

Starting a mining farm is a process of investing in cryptocurrency or blockchain technology.

Mining farms can be started with as little as $500, and they are commonly used to mine cryptocurrencies like Bitcoin, Ethereum, and ZCash. Although the process of mining cryptocurrency is not always easy, it can be lucrative for those who invest in the process.

Starting a cryptocurrency mining farm can be lucrative, but it’s important to do your research first. The farm will require a lot of power and will have a rate of return of around 18% (source).

Idea #11 – Share Cash with P2P Loans

Peer-to-peer lending is the act of lending money to borrowers through a P2P lending website. These websites act as an intermediary between lenders and borrowers, and most sites allow you to lend money to a dozen or two applicants. The interest rate you earn on your loan depends on the P2P website you register with, but it typically falls between 3% and 36%.

When considering a P2P loan, it is important to remember that you are entrusting your money to a stranger. Because of this, it is crucial to take the time to review and assess as many applicants as possible in order to find someone who you feel is most likely to pay back their loan.

P2P loans can be arranged without any collateral or credit check.

Idea #12 – Buy Initial Public Offerings

When a company decides to go public, it sells shares of its stock to the public. This is a way for the company to get more money, and it also allows people who invest in the company early on to make a lot of money if the stock prices rise.

The share price of a company can be very volatile when it first goes public. This can lead to significant growth for the company as investors buy and sell shares rapidly. However, this volatility can also lead to losses if the share price falls abruptly.

You must know the underlying stock value before looking at IPOs as a way to double your money. Many current stockholders are required to hold their stocks for a certain number of days after the IPO. Typically, the stock price falls after the hold period expires.

Idea #13 – Make Money with Airbnb

There are a number of ways to make extra money, and renting out a room at Airbnb is one of them. You can also learn how to make money from home by becoming an Airbnb host.

By doing this, you can provide a valuable service to people who are looking for a place to stay, and you can also make some extra money on the side.

Learn how to start hosting with Airbnb today.

Idea #14 – Flip Some Furniture

Flip furniture is very trendy right now. There has been a recent resurgence in popularity for antique and vintage furniture, and people are buying pieces and restoring them themselves. This can be a great way to make additional money without spending a lot of money.

There are a number of ways to quickly turn a profit by flipping furniture.

Spend some time researching the best methods and finding a niche in the market that you can exploit. With a bit of hard work, you can easily double your investment in no time.

When you are looking for furniture to flip, it is important to do your research and become familiar with the different places you can find quality pieces at a low cost. Local antique stores will often have hidden treasures, so be sure to check them out. Additionally, watch for yard sale notices in your area; people are often willing to sell high-quality furniture at a fraction of the price. Finally, estate sales can be a great place to find unique furniture pieces that you can resell for a profit.

There are many ways to sell furniture, but when you are starting out, it is best to use popular platforms like Facebook Marketplace, NextDoor, Craigslist, and others. Once you have more experience, you may want to create a website and online storefront.

This can be a fun and lucrative way to grow your money.

Idea #15 – Pay Off Debt Strategy

This idea of getting out of debt may seem backward, but this is one of the fastest ways to find extra money in your budget.

There is no doubt that paying off your debt is one of the smartest things you can do for your financial future.

Not only does it reduce the amount of interest you are paying each month, but it also frees up more money to save and invest. Additionally, by paying off high-interest debt first, you are essentially making an investment with a very high return rate.

Once your debt is paid off, you can save your first $10000 which you can now use to quickly double to $20000. This will help you achieve your financial goals faster.

Idea #16 – Online Courses & Coaching Programs

Coaching is a huge business – reaching $11 billion in 2022 (source). People are actively searching for coaching and online courses for personal development.

Coaching programs are designed to provide guidance and support for individuals in order to improve their skills, knowledge, or habits. Coaching programs can take the form of one-on-one sessions or group sessions. Some coaching programs are designed for specific topics like career development, personal growth, or relationship issues.

If you don’t want to work one-on-one as a coach, you can create an online course that can be viewed at any time.

If you have passion, you can likely find people that want coaching.

Idea #17 – Buy a Fancy Car and Uber

You could buy a new, luxury car and become an Uber driver. This would allow you to make money while driving people around in your fancy car.

If you’re looking to make some extra money, driving a luxury car for Uber could be a great way to do it. Not only will you make more per trip, but you’ll also get to drive a nicer car. Keep in mind that if you drive full-time, you could easily double your $10,000 investment.

Driving a luxury car for Uber can get you up to 50% more fares. The extra money can be great for those looking to upgrade their lifestyle or simply want to make some extra cash on the side.

If you want to buy a fancy car and use it for Uber, make sure you have the appropriate insurance. This will protect you in case anything happens while driving.

Idea #18 – Learn a New Skill

A new skill can help to increase your income by allowing you to do things that you couldn’t do before. For example, learning how to code can allow you to start a new career in tech or programming.

Additionally, many skills have the potential to double your income quickly if you are able to find a way to use them in high-demand areas.

It is always a good idea to invest in learning new skills.

There are many places where you can learn, including online and in-person courses. The key to success is jumping in with both feet and really dedicating yourself to learning the skill set. Once you have it down, new opportunities for income will be available.

Idea #19 – Work More Overtime

Working overtime is a great way to earn extra money. You can earn up to double-time pay for working more than 8 hours in a day or 40 hours in a week.

Overtime is becoming more common, so be sure to ask your employer if you can work some extra hours.

In order to make $10,000 in one month from overtime, you would need to figure out how many extra hours per work you need to work.

Idea #20 – Some Gambling?

This is the RISKIEST option of all of them. And highly not recommended as a strategic way to double $10k quickly.

Gambling is a way to risk cash in the hopes of making more cash.

While it can be thrilling and exciting, it’s important to remember that gambling is also a form of entertainment that comes with risk. If you’re able to afford it, gambling can be a way to double your money- but be aware that you could also lose everything you put in.

What is the quickest way to double your money?

How to double your money quick is simple. You need to side hustle and start a business.

Also, the stock market is a simple way to double your money with the rule of 72.

Following billionaire morning routines can be helpful in setting up solid habits for success.

How can I double my money in 24 hours?

The answer to this question is simple… Doubling the money in 24 hours is not practical or doable. You might be able to double your money in 24 hours, but it’s also possible that you could lose everything in one day.

Pay attention to scams if you think you can double your money in 24 hours.

You are better off learning how to make 10k a month.

Which investments are the safest and which are the riskiest?

First of all, it depends on your education, experience, and background.

The best way for someone to double their income is by leveraging their time with the right strategies.

Investments that are considered safe are investments that have an average return on investment of about 8-12% per year. Investing in index funds and ETFs typically have a lower risk. Investing in individual stocks is riskier, but they have an average return on investment of about 10-75% per year.

The riskiest option is the idea that you don’t understand how to double your money and you could end up losing more money.

Best Way to Invest 10K

The best way to invest 10,000 is through stocks. Investing in stocks can be risky and make you lose money, but it also has a high potential for gaining value.

As such, this topic needs to be done in more depth to understand how investments in the stock market work. For now, here are some articles to start to understand the returns of stock investing.

Learn all of the ways you can learn how to invest 10k.

You must do your research on companies, know your risk tolerance, understand the volatility of the markets, and be wary of the news.

Which Strategic Ways on How to Double my Money Quickly will you Pick?

You can choose from many classic way and options, but here are a few that we think would be the most effective.

Thankfully, there are many ways to make money online. But when it comes to making a quick buck, which approach should you take?

In this post, we have outlined the 20 popular routes to double your $10k fast. Your retirement plan relies on your investment of 10k.

However, any of these options is a time-consuming process that takes a lot of hard work and dedication. So, you cannot quit halfway through when things get tough.

This is what you want to do in order to be financially secure and take care of all your needs.

Be successful in doubling your 10k by setting a deadline to make it happen.

Then, your next goal will be how to turn 10k into 100k.

Source: moneybliss.org

Apache is functioning normally

June 10, 2023 by Brett Tams

A company’s success can hinge not only on its ability to bring new customers into the business, but also to retain its existing customer base. The following brand and customer loyalty statistics illustrate how important it is for any business marketing strategy to include goals for customer retention. Doing your research while crafting your marketing plan, understanding your target audience, listening to customer feedback, implementing a customer rewards program and exploring customer win-back strategies are all ways to promote customer loyalty to your business.

Customer loyalty statistics

65% of a company’s business comes from existing customers

A majority of a business’s sales are estimated to come from existing customers, according to the Customer Service Institute. And following the Pareto Principle, 80% of a business’s future profits will come from 20% of its customers.

Customers spend 43% more money at brands they’re loyal to

Loyalty program members spend between 12-18% more per year than non-loyalty program members. And 80% of customers are willing to pay more for a better customer experience. If you can gain their loyalty, it’ll quite literally pay for your business: Customers spend 43% more money at brands they’re loyal to.

It costs 5X more to acquire a new customer than it does to retain a returning one

Another reason why investing in brand loyalty is smart for small businesses is that is costs significantly more — 5X — to acquire a new customer than it does to retain an existing one.

Lowering your customer churn rate by 5% can increase your profitability by 75% or more

Churn rate refers to customers who stop transacting with your business. If you can win back just 5% of these previous customers, your business’s profitability can increase by at least 75%, according to data from Hoover’s, a subsidiary of Dun & Bradstreet.

54% of customers would stop using a brand if they had a negative review go unaddressed

Customers want to feel recognized when they have a negative experience. An effective way to boost customer retention is to respond to reviews — both positive and negative — quickly and professionally. The alternative: 54% of customers would stop doing business with a brand if they had a negative review go unaddressed, despite receiving additional communications from the company, such as promotions for their products.

88% of consumers share their negative brand experiences

Of these customers, 59% will share these negative experiences with friends and family, according to a study by Oracle. Why does this matter? The same study found that 77% of consumers trust family members and 75% trust friends over any other source for shopping recommendations.

71% of customers are unlikely to buy from a business that loses their trust

According to data from PricewaterhouseCoopers’ Consumer Intelligence Series Survey on Trust, 71% of consumers would be unlikely to buy from a brand that lost their trust. The same survey found top factors that affect consumers’ trust in a brand include affordability of its products or services, employee treatment, quality and variety of products or services and resolution speed of customer concerns.

68% of customer churn is attributed to company indifference

If customers don’t feel that a business cares about them, 68% would stop transacting with that business.

Separately, 68% of consumers believe a business should tailor its experience based on their tastes and preferences, according to Oracle.

92% of loyal customers ranked price and value for the top reason why they stay loyal to brands

An International Council of Shopping Centers survey found that brand loyalty is driven by price and value for 92% of consumers. Product and quality, and variety and selection were the next most important factors.

69% of consumers say choice of retailer is influenced by where they can earn customer loyalty/rewards program points

If your business doesn’t have a rewards program, consider this a sign to implement one: 69% of consumers say choice of retailer is influenced by where they can earn customer loyalty or rewards program points.

More small-business data from NerdWallet

A version of this article originally appeared on Fundera, a subsidiary of NerdWallet.

Source: nerdwallet.com

Apache is functioning normally

June 10, 2023 by Brett Tams

Don’t get us wrong; we love PayPal.

The OG payment app has been around since 1998 and still manages to offer an excellent jack-of-all-trades experience. You can send money to friends, handle payments as a business, and even earn 5% back on PayPal purchases through certain rewards cards.

But 24 years is a long time to let competitors catch up. And while none have managed to topple the titan, contenders like Venmo, Wise, Payoneer, Zelle, and Cash App have gained serious ground by offering a better experience for certain users. Some let freelancers get paid with fewer fees. Others let you pay your friends overseas in their currency of choice. And one is perfect for sending payments to people who don’t have any payment apps installed (e.g., your parents or grandparents).

So which payment app is best for what? And most importantly, which is best for you?

Let’s investigate the 10 best alternatives to PayPal.

What’s Ahead:

PayPal alternatives overview

Venmo: Best for paying friends
Wise: Best for international transfers and currency conversions
Google Pay: Best for sending money through Gmail
Payoneer: Best for receiving online payments as a freelancer
Square: Best for receiving in-person payments as a freelancer/small business owner
Stripe: Best for receiving online payments as a small business owner
ProPay: Best for receiving offline payments as a freelancer/small business owner
Zelle: Best for sending money to people who don’t use payment apps
Cash App: Best for converting received payments into hard cash
Apple Pay: Best for sending, receiving, and paying at the register for iPhones and Apple Watches

Venmo

Fees for personal use: 3% credit card processing fee
Fees for business use: 9% merchant fee plus 10 cents per transaction; Venmo tax applies to all transactions marked “goods and services”

Venmo is so widespread these days that “Do you have Venmo?” has become the new “Cash is king.”

Even though Venmo is technically a subsidiary of PayPal, the numbers show that the former is now nearly as popular as its big brother. PayPal handled a total of $330 billion in transactions in 2021, while Venmo handled $230 billion — up a staggering 44% from the previous year.

And there’s a reason why so many people use Venmo as their go-to payment app: it’s simple, safe, and reliable. Transfers are free, payments to friends and family are free, and the app even has a built-in “newsfeed” showing who among your friends is paying whom for what. There was even a time when Venmo showed you the precise amounts they were paying for rent, food, and more, but naturally that TMI feature was retired.

While popular, Venmo isn’t perfect. It takes between one and three days to withdraw your Venmo funds to your bank account, or you can pay a 1% instant transfer fee. Plus, if you use it to invoice clients, there’s no “tip” option on their end — they have to manually initiate a separate payment.

There are also a few default settings I’d strongly recommend you change if you download Venmo.

Settings > PIN code and biometric lock. Set a 4-digit PIN so that if someone borrows or steals your phone, they can’t Venmo themselves the maximum $3,000 (happens more often than you’d think).
Settings > Privacy > Private. Unless you really want your entire friends list to see who you’re paying and for what, I see no reason to broadcast this sensitive data. Turn it off.

Pros and cons aside, Venmo is so popular that someone’s bound to ask you to use it. Luckily, once you succumb to peer pressure, you have a rock-solid PayPal alternative waiting for you.

Get Venmo for iOS or Android.

Wise

Fees for personal use: Sending rates from 0.41%; conversion rates from 0.41%
Fees for business use: Same as personal, plus a $31 account setup fee

There are plenty of apps to help you split the cost of a pizza with your buddies, but what about your international friends? Wise, formerly TransferWise, helps with that. You can send money to consumers in 51 countries, with new currencies added on an ongoing basis.

Wise is custom-built for any international payment or money transfer you want to make. I just have to enter how much I want to send in USD, then choose the currency of the receiving party. Right there, it shows how much I’ll pay for a monthly fee. There are bank fees and Wise fees, but they are minimal.

To send $100 USD to Europe using Wise’s personal account, I’d pay $0.16 in bank/debit card fees, plus a $0.96 Wise fee. Compare that to $5 per transaction fee for a personal international bank transfer with PayPal payments. That alone makes this perhaps the best PayPal alternative around.

Wise business members pay a fixed fee of $1.40 to send money. PayPal, in contrast, charges a 1.50% international business payments fee in addition to the standard fee (2.89% and up).

I’ve only been a Wise payment recipient, so I had to check out how paying someone works. It’s pretty simple – well, as simple as paying internationally ever is. You’ll need the email address, full legal name, and mailing address of the person. You’ll also need the International Bank Account Number (IBAN) of the recipient, as well as the type of account it is and the name and address of that bank.

The business side of Wise has some advanced features, including invoicing and compatibility with Stripe. You’ll also pay a one-time $31 fee to set up your account for international banking.

Get Wise for iOS or Android.

Google Pay

Fees for personal use: 9% credit card processing fee
Fees for business use: 9% merchant fee plus $0.30 per transaction for transactions under $3,000. Rate drops to 2.5% for transactions above $3,000; 2.2% for $10,000+; and 1.9% for $100,000+.

Google Pay allows you to send money from your bank account or GoogleWallet through Gmail for free. Just look for the $ symbol when you’re composing an email and input the amount of money you want to send. If you’re like me, you already do most of your communication through Gmail, so this may boost Google Pay to the top of your list.

Signing up for Google Pay is easy if you use your Google account for most of your business interactions. You just have to download the app and add your phone number. Google automatically pulls in all your frequent contacts.

The interface with Google Pay is not all too different from Venmo’s. You just choose a name from your contacts and input the amount you want to pay. You can also add a note.

One feature I like with Google Pay is that you can easily split payments with friends. Just tap on “Split with Friends” from the Pay screen and choose the friends from your contacts. There’s also a Scan QR Code feature that will make it easy to pay a business that accepts Google Pay.

Speaking of business use, Google Pay has the same weakness Venmo does when it comes to paying vendors. You’ll have to figure out the tip and add it to what you’re paying. But these apps are designed to keep things as simple as possible, so that’s one unfortunate by-product.

Get Google Pay for iOS or Android.

Payoneer

Fees for personal use: N/A
Fees for business use: $0 for payments from other Payoneer customers; 3% credit card processing fee; 1% ACH debit fee; marketplace fees (Network, Fiverr, et al) vary by marketplace; 0% to 1% receiving account fee

Payoneer is an online payment system and peer-to-peer payment solution that allows you to transfer money to anyone anywhere in the world, in addition to making purchases. It provides you with a pre-paid Mastercard that you can use anywhere Mastercard is accepted.

As a freelancer, I’m familiar with Payoneer through sites like Upwork. The service is useful, but if you’re not a freelancer, there are better options. Professionally, what I like about it is that you can send payment requests to clients and they can pay you directly through the app.

Payoneer is another great option for freelancers who are crossing international borders with their work. You’ll pay no fees on the money your clients send to you, and if you send money, there are no fees as long as the recipient is a Payoneer member. Otherwise, you’ll pay 3% for a credit card payment and 1% on ACH transfers.

But, chances are, if you’re using Payoneer, you’ve encountered it on one of the many platforms that use it. Upwork is where I’ve seen it, but it’s also a payment option on Fiverr, Wish, and Airbnb, among many others. If you pay for products and services on sites like that, a Payoneer account for personal use could come in handy, but otherwise, it’s mostly for freelancers and small business owners.

Get Payoneer for iOS or Android.

Square

Fees for personal use: N/A
Fees for business use: First card reader is free; 2.6% credit card processing fee plus $0.10 per transaction; 3.5% plus $0.15 fee for payments that are manually keyed in

Not every in-person business operates in a storefront with a cash register. Square helps with that, equipping small business owners and freelancers with a way to easily swipe a card. The reader attaches to a phone or tablet, allowing you to accept payments anywhere.

I made the mistake of not using Square when I had an in-person event where I needed to accept cards a few years ago. I used the PayPal reader because I figured I already had an account so it would be easier. The swiper didn’t work, so I had to manually enter every single credit card. It was a pain.

For the next event, I ordered a Square reader and never looked back. It works every time, which comes in handy when you have a line of customers holding credit cards. Fees vary from 2.6% + $0.10 for swiped cards to 3.5% + $0.15 for manually keyed transactions, so while it might come in handy to be able to swipe your buddy’s credit card to pay you back for dinner, one of the apps built for personal payments will likely be better for that.

But Square isn’t just for taking in-person payments on the go. You can use it as a one-stop shop for all your business’s sales. You can send invoices directly from the dashboard, set up gift cards that you sell directly through their site, and even take sales on your website using their platform.

What I like about Square, though, is that you can see, at a glance, your total daily sales. If you’re regularly collecting money from customers — in person or online — having this easy access to your progress comes in handy.

Is it for personal use? Not really. You could swipe your friends’ cards using the reader, but the fees will cut into whatever you’re taking.

Get Square for iOS or Android.

Stripe

Fees for personal use: N/A
Fees for business use: First card reader is $59; 2.9% credit card processing fee plus $0.30 per transaction; 3.4% plus $0.30 fee for payments that are manually keyed in; 0.8% fee for ACH transfers

Another option geared toward the needs of small businesses is Stripe. The payment platform can be integrated with your online store or used separately by directing customers to pay you there.

Stripe is for business. You could use it to send money to friends, but the fees make it cost-prohibitive. Fees start at 2.9% + $0.30 for each successful card charge. You can also accept international transactions, with an additional 1% fee added to each transaction.

Compared to its direct competitor Square, Stripe has higher fees but better tools for online integration. If you’re swiping customer credit cards in-person, use Square. If you accept most payments online and want to offer options like recurring billing and subscriptions, use Stripe.

I’ve used Stripe to accept payments from clients, and I loved the easy sign-up process. They do require identity verification, but all I had to do was snap a photo of my driver’s license and set up two-factor authentication to start accepting payments.

What I like most about Stripe is the dashboard. When you log in, you can see, at a glance, how much you’ve made today, as well as your financial activity over the past seven days. You can also see any disputes customers have filed on previous charges.

Yes, you can send invoices using Stripe, and that’s how I get paid for what I do. But where Stripe really shines is in its API. You can easily add Stripe to your website to start taking payments, and, in fact, if you use one of the top web hosting services, you probably see Stripe as an option when you’re setting up your e-commerce store.

Stripe also has terminals and mobile payment options. You don’t need a card reader to accept in-person payments — simply hold the card in front of your phone and the camera will capture the information you need. If you regularly take payments on the go, it’s worth considering.

Get Stripe for iOS or Android.

ProPay

Fees for personal use: N/A
Fees for business use: $39.95 signup fee; $39.95 annual renewal fee; 2.60% credit card processing fee; 3.55% fee for payments that are manually keyed in; $0.35 bank transfer fee

ProPay offers payment processing tools for businesses of all kinds. Whether your business is small, on the road, or global, they can work with you.

ProPay is for the business that’s serious about accepting payments on the go. You can swipe cards using the ProPay JAK™ card reader. If you aren’t near your card reader, you can manually input the information. You can also opt to securely save a customer’s payment information to make things go more quickly the next time they buy from you.

One thing I love about ProPay is that it works even if you are offline. I’ve sold items at libraries, book fairs, craft fairs, and even in the parking lot after an event. You aren’t guaranteed to have Wi-Fi or even cellular connectivity at all times, and this app comes in handy for that. The transaction is logged the next time you go online.

For personal payments, this is another app that won’t really help you much. But if you’re a freelancer or work in direct marketing, this is a great app for processing payments.

As for fees, they depend on the type of card being used and the account you have. Rates start at 2.40% for swiped transactions. The complete rate chart is posted here.

Get ProPay for iOS or Android.

Zelle

Fees for personal use: None
Fees for business use: None (though there are no business-specific features)

You may already know Zelle as “the payment app my bank wants me to use.”

That’s because while competitors like PayPal and Vemno were marketing themselves to businesses and individuals respectively, Zelle was chatting up the banks. As a result of all that relationship-building, Zelle now interfaces with over 1,000 banks and banking apps worldwide, making it extremely easy to send and receive money directly through your banking dashboard.

The other benefit of using Zelle is it makes it way easier to send money to people who don’t use payment apps at all. For example, let’s say I wanted to send $200 to my grandparents to help them pay for a new fridge. If I said to them, “Do you have Venmo or Cash App?” they’d probably look at me like I was speaking a foreign language.

I don’t want to stress them out with the prospect of downloading an app (or buying a smartphone), so I’ll just send it via Zelle. They’ll receive an email from Zelle that shows them step-by-step instructions on how to enroll and put the money in their account, no apps required.

The other benefit to Zelle is simplicity. You simply send and receive money with no fees ever. That’s it. There are no newsfeeds, social features, nada. And frankly, the only reason I don’t recommend Zelle over Venmo is because the latter is just more recognizable.

Get Zelle for iOS or Android.

Cash App

Fees for personal use: 3% credit card processing fee; 0.5% to 1.75% instant transfer fee ($0.25 minimum); $2 ATM withdrawal fee with Cash Card
Fees for business use: 2.75% transaction fee

Like Venmo, Cash App is another one of those payment apps that everyone’s heard of, and everyone uses. It’s extremely simple, with a no-frills dashboard and no fees for personal use, and for better or worse it lacks the social features of Venmo.

At first glance, Cash App seems to be the Paris Hilton of payment apps: popular just because it’s popular. There’s no option to tip contractors, not much to appeal to business owners, and until you verify your personal information, you’re capped at sending $1,000 every 30 days.

Pretty soon, Cash App’s initial value proposition — barebones simplicity — may start to feel limiting when you see competitors offering compelling features like bank dashboard integration, currency conversions, and free credit card readers.

Thankfully, Cash App starts making way more sense when you learn about the Cash Card. The Cash Card is a debit card linked to your Cash App balance that lets you withdraw your funds from any ATM for a $2 fee.

That’s a big deal for folks who want their cash instantly, since the alternative is to:

Initiate an instant transfer for a fee ranging from 1% to 3%
Find an in-network ATM, or pay out-of-network ATM fees of ~2.5%

Let’s say you receive a $300 payment and want to convert it into cash. With Cash App, the total fee would be $2 or 0.67%. With another app, you could pay up to 5.5% or $18.33 in fees alone, plus having to wait up to 30 minutes for the “instant” transfer to your bank account.

True to its name, Cash App is the best payment app for converting received payments you receive into cold, hard cash.

Get Cash App for iOS or Android.

Apple Pay

Fees for personal use: 5% instant transfer fee (min. $0.25, max $15)
Fees for business use: No additional fees for merchants (though standard credit card issuer fees may apply)

Apple Pay offers more than just another way to send and receive money from friends. The app will also let you securely store all your credit and debit cards in a neat-looking virtual stack. Then, when you reach the register, you can just pull up the card you want to use, hover your phone near the payment terminal, and wait for payment to clear. No need to fiddle with your wallet or let your card out of your sight!

Apple Pay also works with Apple Watch, so you can simply pull up your card there and hold your wrist over the payment terminal until payment clears, signaled by a gentle tap from your watch.

For online stores and in-app purchases, you’ve probably noticed that Apple Pay isn’t quite as widely accepted as PayPal, but it’s getting there. Apple boasts that as of late 2022, over 85% of U.S.-based retailers accept Apple Pay — even vending machines and taxis.

As you might expect, Apple Pay is a perk reserved for iOS users only. In fact, it’s one of the apps that comes factory-installed on Apple devices. At least Android users like me still get Google Pay.

Get Apple Pay for iOS.

Benefits of online payment apps

First, it can help to take a look at the overall features of online payment apps. Online payment apps make it easy for a business of any size to collect money from customers. Peer-to-peer payment apps make it easy to transfer money to your friends.

Here are some benefits to consider:

Easily pay friends and family members
Transfer funds from your bank account to someone else’s with a few clicks
Set up recurring payments to friends or family members
Avoid carrying cash around with you
Skip the trip to the ATM before you go out with friends
Accept secure payments for products or services on your small business website
Set up a Point Of Sale system in a brick-and-mortar business using a tablet
Accept payments on the go using a card swiper
Provide an alternative to personal checks, which can be risky

Some of these won’t appeal to you, while others will. By looking through all the various features that are available, you can start to narrow down what you’re looking for in a payment app.

Features to look for in a payment app

As you’re researching payment apps, there are some features to consider. You may not even realize you can do some of these things using a payment app until you see one offering it.

Fees. Of course, we’d all love for everything to be fee free, but we know there’s a cost associated with some financial transactions. I look for an app that at least has a “friends” option, letting me send money without fees to people I know personally. Often you’ll have to link up a checking account to do this, though, as credit card-based transfers will typically incur a fee.
Social feeds. This isn’t something I look for, but with peer-to-peer payments, some find social updates valuable. When you pay your buddy for your half of those summer concert tickets, this lets all your other friends know about it.
Security. Yes, the verification process can be a pain with some of these apps, but I like it. It means that the platform takes security very seriously, which boosts my confidence that my financial data is safe with them.
Send to email. Some peer-to-peer payment platforms let you send email to someone else using an email address or information from your contacts list. You can even send money within some email and messenger apps with just a tap on the screen. I found this comes in handy when you’re interacting with someone about upcoming plans. You can submit your share of the funds within the same message string to make sure the other person sees it.
All-in-one functionality. Some apps combine the best of peer-to-peer and online payments, letting you pay using the same app. You’ll need to identify which businesses accept payment that way, but it can be a handy way to manage your budget.
Expand payment options. Businesses face the ongoing issue of keeping things as convenient as possible for customers. The more payment options you can offer, the less likely you’ll lose customers who are limited in how they can pay.
International payments. The internet has opened businesses up to reach out to an international customer base. Being able to accept payments across multiple currencies with minimal fees is a huge bonus if you want to go global.
If your business uses financial software, check for integrations. Being able to import information about your transactions can help you stay on top of things while reducing your own workload.

Summary

The beauty of payment apps is that you don’t have to choose just one. You can have a half dozen installed on your phone, so long as you protect yourself with extra layers of security like PIN codes and biometric logins.

And knowing which payment app to use in which scenarios can save you time, stress, and hundreds on fees.

Source: moneyunder30.com

Apache is functioning normally

June 10, 2023 by Brett Tams

Want to invest in a hot start-up company, join a market-beating private investment fund or back a potential blockbuster movie that could be your ticket to the Forbes Billionaire List? Chances are you can’t unless you’re already quite rich or significant investment expertise. But a recently passed House bill aims to change that by allowing individuals to take a test that could allow them to purchase such private securities.

A financial advisor can help you invest and integrate those holdings into a diversified portfolio. Speak with a financial advisor today.

About the Proposed Legislation

Right now, anyone who wants to purchase an unregistered security, such as shares in a hedge fund or private equity fund, needs to show that they’re what the Securities and Exchange Commission (SEC) considers an “accredited investor.” To qualify, you need a net worth of more than $1 million (not including your home), more than $200,000 a year in income ($300,000 if you’re married) or significant experience as an investment professional. Otherwise, your money is off-limits for private placements and other unregistered offerings.

The Equal Opportunity for All Investors Act of 2023 (H.R. 2797) would instruct the SEC to create an accredited investor certification exam that would allow investors to demonstrate they have the knowledge and understanding required to participate in the private market. The exam would be administered by the Financial Industry Regulatory Authority (FINRA).

“It is my firm belief that the accredited investor definition should not be tied exclusively to wealth,” one of the bill’s sponsors, Rep. Mike Flood, R-Neb., said in a statement. “Instead, we should unlock opportunities for knowledgeable investors that may not come from means.”

These Other Bills Could Impact Accredited Investors

The House recently passed two additional bills that would expand the definition of an accredited investor. Here’s a breakdown of each:

The Accredited Investor Definition Review Act (H.R. 1579) gives the SEC discretion to establish the necessary certifications, designations or credentials investors need to be accredited, and would require the commission to review those definitions every five years.
The Fair Investment Opportunities for Professional Experts Act (H.R. 835) would grant accredited investor status to individuals with certain licenses, or educational or professional backgrounds. “My legislation is about leveling the playing field,” said Rep. Bill Huizenga, R-Mich., sponsor of the investor definition review act. “Whether it’s in Kalamazoo or Portage, Benton Harbor or St. Joe, or Battle Creek or Springfield, investors should be able to support small business startups in their local community across southwest Michigan and around the nation.”

Besides meeting the requirement for net worth, income or professional investing experience, individuals also can qualify as an accredited investor under existing law if they are directors, executive officers or general partners of the company selling the securities or the company that’s the subject of the offering. Clients of a family office that qualifies as an accredited investor may also be considered accredited. And in the case of a private investment fund, someone the SEC defines as a “knowledgeable employee” of the fund may qualify as an accredited investor.

Bottom Line

The SEC restricts the sale of unregistered or private securities because those offerings typically don’t meet the commission’s standards for financial and regulatory disclosures. Instead, participation has been limited to financially sophisticated and wealthy investors with a reduced need for the protection provided by disclosure filings. New legislation that’s been approved in the House of Representatives would establish an exam that investors would need to pass before attaining “accredited” status. Meanwhile, other bills that are working their way through Congress would expand the definition of an accredited investor.

Investing Tips

While investing in unregulated securities can be complicated and risky, figuring out an investment strategy that relies on typical stocks, bonds, mutual funds and ETFs can be confusing, too. A financial advisor can help. Finding a financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to three vetted financial advisors who serve your area, and you can interview your advisor matches at no cost to decide which one is right for you. If you’re ready to find an advisor who can help you achieve your financial goals, get started now.
Diversification is a key investment strategy to understand. Concentrating too much wealth in a few assets can leave your portfolio vulnerable and exposed to heightened volatility. SmartAsset’s asset allocation calculator can help you identify a mix of stocks, bonds and cash that’s suited to the level of risk that you’re willing to assume.

Source: smartasset.com

How To Become a Sleep Consultant

1. Please give us a little background on yourself and how you got started as a sleep consultant.

2. What is a sleep consultant? What does a sleep consultant do?

3. Why do families need sleep consultants?

4. How much does a sleep consultant earn?

5. How long does it take to be a sleep consultant?

6. How do you qualify as a sleep consultant?

7. Is there a demand for sleep consultants? Is there enough room for new sleep consultants?

8. How does a sleep consultant find customers?

9. Do you need a college degree to become a sleep consultant?

10. Can you list the steps needed to get started as a sleep consultant?

11. What other tips do you have to share?

12. Can you tell me more about the sleep consultant business training that you offer? Why did you decide to start a course?

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