International Transfers: How to Safely Send Money Overseas

Every year, six million households in America use money-transfer firms to wire cash to family and friends abroad. Where once there was but one well-known organization you could rely on to help you wire money internationally, today there many. 

This abundance of choices heightens your burden of scrutiny. To help you ease this burden, check out the following suggestions on how to safely send money overseas. 

Matching Methods to Your Needs

The best way for you to send money depends on the amount you need to send, whether it’s a one-time or regular payment, how rapidly the money needs to travel, and who you are sending the money to. 

Other key considerations include the costs to you for sending the cash, the prevailing foreign currency exchange rates, and what happens if something goes wrong with the transaction.

Send Money to Foreign Countries Using a Debit Card

If you need to send money to a friend or relative in Vietnam, you may find it convenient to learn that you are not required to queue up in line at your local money transfer kiosk to do so. According to the folks at Sharemoney.com, for instance, you can send money securely to Vietnam 24 hours per day on their website using your existing bank debit card. 

In this way, you can enjoy competitive exchange rates and lower fees. Your beneficiary can pick up their money at one of many convenient locations or even have it delivered to their door.

Research the Best Ways to Send Money Online

Editors of the online version of Consumer Reports magazine suggest that there is no single money-transfer service that can be identified as having the best deal for all consumers under all circumstances. 

This means that consumers need to do at least some shopping around. Finding the best money-transfer service for you can be complicated. Money transfer kiosks can be found inside supermarkets, convenience stores, pharmacies and inside large big-box retail stores. You can get good information about which one is best for you by researching your options online by checking the World Bank databases.

Sending Larger Amounts

When the amount of money you need to send overseas approaches a level deemed "serious" by banks, it's best to use banks for such transfers. Banks are able to provide you with a reasonable rate of exchange because they are skilled at neutralizing the risks associated with moving money around the globe. 

It is important to be aware that overseas banks may not necessarily enjoy the same level of government guarantees that U.S. banks have. If a foreign bank that you are using to send large sums of money becomes insolvent, you need to know beforehand what your remedies are.

A broad array of options can make selecting an international money-transfer service complicated. For any given amount of money, your best solution will grant you the most favorable exchange rates and charge you the lowest fees. 

To this end, the place that offers you the best value will likely change from day-to-day. Keep that in mind when you need to wire money abroad.

Healthy and Alert: 5 Benefits Coffee Can Offer for Your Well-Being

Are you one of those people who need the smell of coffee to wake you up in the morning and the taste of caffeine to warm your bellies? Is a good cup of coffee enough to rouse you up and start you going? It’s not surprising, because millions of Americans are like you.

Many researchers have proven that coffee is good for you if consumed in moderation (less than 6 cups a day). Aside from the satisfaction you get from its invigorating aroma and distinctive flavor, there are many ways that coffee offer to your health and well-being.

CANCER AND OTHER DISEASES

Recent studies show that those who drink at least 6 cups of coffee on a daily basis have a lower risk of developing cancers like prostate, melanoma, cirrhosis, and breast cancer.

Studies show that a cup of coffee has more antioxidants than a serving of blueberries or orange. Antioxidants help protect cells from oxidation and shields coffee drinkers from diseases like diseases of the heart, type II diabetes, Parkinson’s and many more. Coffee contains minerals like chromium and magnesium, which improve heart health and lowers the risk of infections.

COGNITIVE HEALTH

Drinking coffee can improve memory and brain health. Several studies report that coffee drinkers showed a significantly lower incidence of Alzheimer’s and cognitive decline compared to those who did not drink coffee or drank only small amounts.

One study found that caffeine all by itself may be sufficient to protect against the
development of Alzheimer’s disease. This may be due to caffeine’s antioxidants, which reduce inflammation.

ANTI-DEPRESSION

The caffeine not only stimulates the nervous system but may also function as a mild antidepressant. A research conducted showed that this may be linked to a lower risk of depression and lower incidence of suicide in people who are avid coffee drinkers.

HEADACHES

Research shows that coffee can help relieve migraine symptoms and can even stop it by consuming a cup before the situation occurs. Dilation of the blood vessels leads to vascular headaches. Caffeine constricts blood vessels by acting much like low-dose aspirin thus countering the headaches.

WEIGHT LOSS

Coffee is non-fattening! There are 0 calories in every cup of black coffee. What you will add to your coffee (cream, sugar, caramel) will add to the calorie count. The majority of popular K-Cups from places like 11th Street Coffee aren’t only free of sugar or fat, but they are also calorie free. 

Studies also show that caffeine in our coffee can increase our metabolism by about 8% which actually helps with burning fat, suppressing fat accumulation and body weight gain.

Nothing beats having coffee together with friends and family! Bonding and sharing conversations will relieve our stress and allow us to enjoy life more. We can enjoy many cups of coffee together. 

But if we start getting anxiety and headaches after missing some cups, we may have been drinking too much, we just need to slow down and limit our coffee intake.

CAUTION: Don’t use coffee as a medication for your illnesses, pains or depression. Consult a professional, who can give you the efficient medical support and care that you need.

5 Common Financial Emergencies That Can Appear Without Warning During Retirement

Life often brings surprises and even with planning there are circumstances that occur which can change things dramatically. Such is the case even with retirement. People often plan every aspect of retirement years in advance but there are certain financial emergencies that occur, and if one hasn't planned accordingly the results can be devastating. 

Most people will either cut back or stop working entirely when on retirement, so their income is likely to be less than it was when working full-time. Fortunately, there are ways to minimize impact of these financial emergencies that occur. 

Here are five of the common financial emergencies that occur during retirement and the ways you can protect yourself.

Car Repair

For anyone, a car can bring unexpected emergencies in the form of damage that's not covered by insurance or a bill for unexpected car repair. Many retirees have a heavy reliance on their vehicles. 

You can guard against this emergency possibility making sure you have an adequate emergency fund and keeping your vehicle sufficiently insured.

Medical Emergencies

Medical emergencies are likely to be the single biggest category of emergency expenses that anyone will face while in retirement. Even with Medicare available, the medical issues that tend to arrive in later life are more likely to be ongoing and incurring more expenses than the medical issues we experienced when we were younger. 

The best way to plan against such medical emergencies is to avoid them in the first place by keeping ourselves healthy and in good shape throughout our adult lives. In addition to living a healthy lifestyle, it's important to make adequate insurance coverage a top financial priority as we age.

Damage To Your Home

Many retirees have a primary goal of paying off their home mortgage before entering retirement. While this can be financially beneficial, there are some consequences to keep in mind. The first is that you're not contractually required to have adequate insurance for your home when you no longer have a mortgage. 

The unfortunate result of this is that any significant damage to your home can cause you significant out-of-pocket costs if your insurance coverage is lacking. To plan for this scenario, review your homeowners policy each year and make sure you have enough coverage.

Family Emergencies

Financial emergencies may not only rise between you or your spouse. There may be situations that occur to your children or grandchildren where you feel it is necessary for you to assist. 

You might increase the size of your own emergency fund to address the types of implications these family emergencies bring, or you perhaps even set up a separate fund (one which you may choose not to disclose to your relatives) that you can have when such family emergencies arise.

Death of a Spouse

The death of a spouse can be tragic enough in itself. It can also sometimes trigger financial emergencies, which add on to the already overwhelming sense of emotional loss. 

For example, if you were retired but your spouse was still working, then the loss of income can be significant. To minimize the financial strain when this emergency occurs, make sure each of you have adequate life insurance until you're sure it's no longer needed.

Retirement can be a great part of your life, provided that you plan and save enough, adequately guarding against potential emergencies that can arise in life. These common emergencies can happen to anyone so it's best to be prepared. You never know when you'll have to write a check for a repair or a bill unexpectedly.

Investing in a Restaurant or Cafe: 5 Things to Remember

Restaurant businesses have a tremendous influence on the economy in the United States. Sales are expected to total over $700 billion by the end of 2015, according to the National Restaurant Associations. 

It is very difficult for entrepreneurship success without a detailed business plan and research on the market. There are five things future entrepreneurs and investors should consider before investing in a restaurant or café.

The Market of Restaurant or Café Industry

Potential business owners should perform market research and study the trend of the industry. When performing restaurant market research, include statistics, possible geographical locations, and trends. This information is very important and should be included in business plans for prospective investors and financial institutions.

Type of Funding to Operate Hospitality Business

Entrepreneurs fund restaurants and cafes with their own capital or through angel investments. After an entrepreneur has researched the industry, create a budget that covers startup, overhead, administrative, and operational costs. 

While there are successful restaurants, some businesses fail because of lack of research and budgeting. The budget should include a cost analysis of food items and supplies, such as breads, meats, condiments, plates, and utensils. It should also contain a list of distributors, like Klosterman Baking Company who delivers fresh bread items, for an example.

Restaurant or Café Business Structure

Future restaurant business owners have to decide the structure of establishments, including operations. The restaurant or café may be registered as sole proprietor, Limited Liability Company, or corporation. Most fast food, upscale, and casual dining restaurants hire managers, assistant managers, chefs, waiters, and other employees. The information about the business structure is essential for the business plan and budget.

Latest Restaurant Technology

Today, technology is used in the restaurant industry for customers' convenience, online menu viewing, and online order processing. Approximately 70 percent of consumers in the United States use iPhones and other smartphones to view menus on restaurants' websites. 

Amazingly, 79 percent of consumers said restaurant technology improved convenience experience.

Possible Risk

The possible risk of investing in restaurant or café is losing capital because of mismanagement, inexperience employees, and poor service. A detailed business plan and budget should be created and followed to reduce the risks involved in running any type of company.

If future restaurant entrepreneurs want their businesses to be successful, remember to research the industry, funding alternatives, business structure, technology, and risks. Create a business plan and include marketing strategies and budget. 

Also, remember to select reputable distributors and suppliers who deliver fresh food items and quality products.