Discover the Best Tips for Quick and Easy Money Transfers Abroad

In the modern day there are many different ways people can send money abroad. Obviously it is always good to have a lot of choice; however this can make things more confusing at the same time. A lot of people find it mind-boggling when it comes to deciphering what method of sending international payments is the best. Nevertheless, by the time you have finished reading this article all should be a lot clearer. 

Choose to transact face to face or complete your money transfer online

As mentioned earlier, there are many different ways you can send an international payment. Nevertheless, to narrow down your choices you should decide whether you prefer to transact face to face or complete your money transfer online . There are a lot of benefits to be had via using the internet, however, if you prefer to deal with a person then face to face options are available.

One of the main advantages associated with the internet is the fact that it is a lot more convenient. If you need to transfer money quickly then this is the best way to do so. You can make your money transfer from the comfort of your own home with only a few integral pieces of information – such as your personal information and bank details, as well as the recipient’s details.

Sometimes you may find that better exchange rates are offered online.

If you prefer to deal face to face then make sure that you shop around as exchange rates and fees can vary dramatically. Deal with businesses that you trust and have more than a few branches and most importantly check that the company you chose are registered with the Financial Conduct Authority.

A credible and secure money transfer company

When searching for the best online money transfer company you need to take a lot more into account than the points already mentioned. Finding a good deal is one thing, but you need to make sure that the website is genuine and that the company is credible. After all, the last thing you want is for your money to be lost altogether.

The best way to check the worth of the business is to make sure that they have a substantial level of experience, check how long they have been trading – most companies will say this somewhere on their website. If you have their FCA registration number you can check that they are registered on the FCA.Gov.uk website. 

Finding the best exchange rates for your money transfer

And last but not least, you obviously need to make sure that the company you opt for offers good exchange rates. After all, let’s say you are sending money abroad to pay a maintenance company for work they have done on your holiday home. They charge $500 for their service. It does not matter to them whether your exchange rate is good or not; $500 is what has been agreed. If you look for a good exchange rate you won’t lose too much money. However, if the exchange rate is poor then in reality you are going to end up paying a lot more than $500.

Investing Your Money - Understanding Your Options in the Current Economic Climate

If you have a nest egg that you'd like to keep safe and see grow then you might be forgiven for thinking that your only option is to put that money in a savings account and let the bank grow it for you. While this is fine for smaller amounts of money though, for real investing it is one of the worst and least profitable options available to you. When you invest money with a bank, they will invest the money for you in stocks, shares and properties but they will only give you a tiny fraction of the interest they make meaning that your money could be growing much faster if you had made those same investments yourself. In the current economic climate too, with the banks struggling more and more, those interest rates go down considerably meaning you can end up tying your cash up for years on end and getting less than 1% APR for your troubles.

The benefit of savings accounts for most of us is the simplicity they offer and the security. In theory you should just have to put away your money and then forget about it while it grows and there should be no chance of a bad investment causing you to lose that cash. Unfortunately though with the current climate that's no longer even true and there's no guarantee that a bank isn't going to go bankrupt losing you some or all of that investment. If you are going to stick to savings accounts then - even for smaller amounts of cash - you should divide your money across several banks to protect it.


Better yet though you should look into some of the other options you have for protecting your money. Here we will look at what the best options are for really growing and protecting your money

The Best Protection

If you really want to keep your money safe then an overseas account can be preferable in a number of ways. One of the best forms of overseas account for keeping your money safe is a Swiss Annuity which you pay into in a large lump sum up-front in order to get subsequent smaller payments over the years. This works well to save your money as it will be with a Swiss bank (meaning the economic crisis isn't so much of a factor) and because there won't be a pot of your money sitting somewhere. This is also a form of 'asset protection' meaning that even if you were to go absolutely bankrupt your money would be safe.

Investing Yourself

Another option is to invest your money directly yourself and there are a number of different ways you can do this. For security and peace of mind for instance you can invest in gold, precious materials, wine or paintings which will be generally impervious to fluctuations in the market and the economy. Investing in property is also relatively safe, though it requires a big upfront expense and can be a hassle if you plan to rent it out or just maintain it.

Alternatively you can invest in stocks and shares yourself or with a self-managed super fund (which basically sees you teaming up with other investors). This can yield high rewards but is very high risk - so if you're going to go that route it's wise to use a financial advisor who can talk you through the best decisions.

Author Byline:

John Lowrie resorts to blogging to share his thoughts and opinions with his readers. He works for Payday Angels and likes to keep himself updated with the latest developments in the field of personal finance management. His Twitter ID is j_lowrie.

How to Use Digital Marketing for your Business

It can feel like a big challenge to use digital marketing such as social media and the internet. There are so many developments in technology every day that it might seem intimidating to even know what is out there. The professional world of business and marketing is quite different from that of technology. But we have some great guidelines and advice that will make it much easier and a definite must for you to try it out.

UseSEO

If you want to get lots of hits on your business website then you need search engine optimization, or SEO. Websites that are really successful are those that are found easily on search engines. You need to get your website up onto the listing in one of the first three pages that a search engine gives. If you really want to get the business flowing, then aim to be one of those sites that are in the top five listings. If you use SEO you will be discovered by new customers way quicker and much more easily. Make it your aim to get onto the first page of the results from a search engine. 

Social Media

Facebook is one of the most popular forms of social media in the world today. it has over 500 million users it is used by over one and a half million companies to advertise their services and products. Twitter is another great way to advertise. Over 30 per cent of people using Twitter follow posts from companies and brands. YouTube is also another giant in social media and you can use it to your advantage. You should have social media as a big part of your digital marketing strategy. You can build a big following and increase your number of customers easily. And best of all, most social media is free for you to advertise your business.

Current Web Content

You should keep up to date with your website content, keep it relative and go with popular trends. Customers can get a lot of information about your business and what it offers by visiting your website. Going online to a poorly constructed and uninformative website is not fun and certainly interesting enough to visit again. You want to keep your website content full of useful information and engaging content. 

Smartphones and Tablets

Tablets and smartphones are sky rocketing on the market today. these are now so commonly used for internet and social media and the numbers are expected to grow and grow. Smartphones are used for the internet for business and personal use. Tablets are commonly used for work and leisure too, and are often aimed at people for more personal use. Mobile technologies are great for digital marketing.

Professionals

Use professionals in the field of digital marketing to ensure you get every opportunity out there to advertise your business. You will not need to worry about all the technical jargon and latest digital marketing techniques if you get an expert with the skills and know how to do it for you. This will save you valuable time to invest into running your business. 

Build Networks

You need to be prepared with the ongoing job of retaining your fans online. You will need to be innovative and forward thinking. Create networks and you can work together on digital marketing. This will be beneficial if your business is small and it will help you to expand at a faster rate when you network with other businesses. 

Become Known Online

A great way to become a known force online is to do something different that seperates you from the crowd. Let people know what it is that is different about your business from all the others out there. You should think about this when you are building your digital marketing campaign, what makes you different?

Moral Codes

If you are carrying out a survey or have posters or information you want to share with your clients or colleagues then email is an easy and free way to do this. But you must always remember morals and principles when you are using the internet. Do not share private information that has been given to you by email. The same moral codes apply for business online as they do face to face. Be careful about how you use information regarding your customers. It is essential that you are as upfront and honest online as you are in your business.

It’s All Out There

With the internet you can be in touch with anyone anywhere, and this is possible in a matter of seconds. You should be very aware of this when you put anything up online. If you post something on the internet, then any person in the world can see it. Be careful about giving away too much about the magic behind your business and information on how you do it all. The same is true for images, video clips, comments on social media and articles of any length. Once you hit send, then there it is, and you cannot get it back. 

Keep it Consistent

Once you have got some followers and interest online, then you need to work out ways to keep them interested in your business. You should do this while finding ways to keep your online fan base growing. Once you have a fan you need to keep them. This is not easy and a lot of businesses struggle with this. Use your forms of digital marketing cleverly, keep up to date with your online information.

This content is provided by Pass Certifications. He is a 74-343 Certified Professional. Take the benefit of our N10-005 material and assure your success. Check out our free demo of all certifications Exams.

How to Spend Money Wisely In Online Business

saving and spending (Photo credit: 401(K) 2013)

Understanding how to spend money wisely for the development of your online business is vital to the success of your company. Just as with any business, cash flow is critical and very important. It does not matter if you have the best business model possible. If you squander the funds that you gain as profit from your operation, your success is in jeopardy. 

Before you start operating, you should set specific goals for your online business. Those goals should be supported by clear, complete yet concise company policies. This principle is vital, even if you are operating alone, operating with a few people, or have grown well enough to be considered a medium size business.

If you have not sat down and put the goals and policies for your company, do so before you spend any money on further development. Once that is done, you should make sure you have a plan for putting aside cash savings for at least three months known operating expenses. You should also be saving an equal amount for unexpected costs.

Each month, you should add to cash savings before you pay other expenses of the company. The amount you add should be according to a plan you develop. The sooner you have those savings, the safer the future of your online business will be. Funds available after normal operating expenses and payment into your cash savings plans should only be made if the expenditures for business development meet the following tests.

Does your planned expenditure support your company policies? Are the developmental costs you want to incur going to help your company meet its stated goals? If you can answer yes to both of those questions you can be fairly confident in spending funds for development of your online business for any tax related advice contact Tax helpline.

If you have more than one type of development expense, but not enough funds to do more than one at this time, do not take funds from your savings. Those funds are for normal operation and emergencies. You might put the developmental funds you have available at this time into another stash of cash, until such time as you have the funds to proceed.

If the development you plan can be seen to have an immediate impact on revenue or cash flow, you could consider using a portion of your savings that are for unplanned expenses. Never take funds from those savings meant for future operational expenses.

Tax Deductions in an SMSF: Quick Tips for Contributions and Earnings

One of the most popular reasons to open a Self-Managed Superannuation Fund, or SMSF, is the tax benefits it affords. SMSFs are tax-effective vehicles in part because certain contributions and earnings linked to these smaller super funds receive special before-tax, or "concessional," treatment. Yet, SMSF trustees are warily eyeing the ATO as it sweeps trustee roles for rule-breakers.

In this climate, it's very important to ensure all self-managed super funds comply with the latest regulations. It could mean the difference between a tax rate of 45% instead of 15%. Compliance also frees the SMSF to deduct certain expenses. Let's take a look at the current state of allowable deductions, from life insurance premiums to administrative fees, to discover how the bills can be legally reduced within the framework of a Self-Managed Super Fund.

Rules of Personal Contributions

One way to trigger deductions and maximize retirement savings is by making concessional personal contributions to an SMSF. For self-employed or partially retired workers, personal contributions to an SMSF are deductible on individual returns. Note the cap on how much a worker can contribute in a year. This cap indirectly limits the amount of available deduction.

However, it is possible to exceed the concessional cap—currently set at A$25,000—but doing so means stepping back and paying the government more for "excessive contributions." This would cancel out any deductibility gains and should be avoided.

Of course, it is not possible to claim personal contributions whose sum is greater than the taxable amount. If, for instance, John's income is A$50,000 and he makes A$8,000 in personal contributions to his super fund, how much of his contributions can actually be deducted? A$50,000; deductions do not translate into income 'credits.' In the best-case scenario, the deduction reduces the taxable amount to zero.

Funding Assessable Income

Beyond personal contributions, members can generally deduct those expenses that directly contribute to the fund's assessable income. Normally, a Self-Managed Superannuation Fund incurs some administrative and actuarial costs in the course of sustaining the trust on behalf of the members, and these—including the ATO's levy—are certainly deductible. Some insurance expenses, namely death and disability premiums, may qualify as well.




A lesser-known deduction is the cost of paying out on a life insurance policy if one or more members passes away. This is called the Future Services Benefit Deduction. In some situations, deducting this expense is a smart move that could end up saving the surviving members thousands. It could even prevent them from having to pay taxes on fund earnings for several years.

Earnings from Fund-Held Assets

Tax deductions are also available to offset certain fund expenditures and investments. The most popular deduction depends on the tax-free treatment of earnings from a super pension's assets. Any income or capital gains made on the investments of these assets can be counted against the SMSF's income.

The tax office says over 85% of SMSF deductions in 2010 were based on this rule. It is the main attraction for many retirees who now rely on self-management for maximizing their investments. People who claim these deductions, however, must remember to continue making minimum pension payments every year. It's what qualifies super investment expenses and earnings for tax-deductibility.

This strategy could be profitably deployed by a retired couple, for instance, that wants to combine both taxable and tax-exempt funds into their pension. Read this tax saving through SMSF case study, where SMSF Perth put together a strategy to design a largely tax-free inheritance for their children, while taking advantage of concessional deductions for the taxed money they actually lived on.

Author Bio: Greg Major, Director, Blueprint Wealth:Greg Major, Director of Blueprint Wealth which specialises in Self-Managed Super Funds in Perth, has over fifteen years’ experience in a variety of Financial Services roles within the Banking Sector in Australia. Most recently Executive Vice President with ABN AMRO, Greg has extensive experience across all major wholesale banking and finance fields, including derivatives and risk management, capital markets and structured finance, and balance sheet, liquidity and capital management with experience working across Europe and Asia.

How Important is Your Credit Score After 50?

We've all heard that a credit score can be “built over a lifetime and destroyed overnight.” But once you reach 50 and your long-term financial goals are mostly in order – let's say you have a mortgage, a 401k or an IRA, and a healthy emergency fund – how important does your credit score become?

The answer is that while your credit may not seem as important as it did when you were shopping around for your first mortgage years ago, life's full of surprises and you never know when a good credit score may be necessary after 50. 

Here's a few reasons why it's simply a good idea to maintain a solid credit score after you reach the age of 50...

Unforeseen Financial Emergencies

As most Americans are now aware of in the post-Great Recession era, the bottom can fall out on the economy seemingly overnight. It's safe to say that most of us now have our guard up when it comes to the prospect of a financial emergency, which means preparing for the worst and hoping for the best.

With that in mind, a healthy credit score well into your 50's is a valuable asset for you and your family. Mortgage refinancing, credit advances and loans are all relevant to 50-something consumers, but are hard to get done at any age with a bad credit score.

Basically, it's better to be safe than sorry when it comes to credit.

Existing Debt

50-somethings with existing debt can negotiate better interest rates if their score and credit history is still considered good-to-excellent. This is important to both the individual and their heirs in case they pass away, since assets after a person has passed are distributed to beneficiaries only after their debt has been paid off. If the debt outweighs the estate, beneficiaries aren't saddled with the old debt (unless they're a co-signer on any of these outstanding debts), but they do miss out on an inheritance.

This is all to say that an old debt never dies, but unfortunately we do. (Mordbid, I know.) And to prepare for such a situation is to take action while we still have the income, the assets and – most importantly – the time.

Paying down old debt – especially credit card debt – can take a lot of that precious commodity that we call “time”. One way to expedite this process is by negotiating lower rates with your credit card companies; another is to transfer a sizable portion of that debt to a 0 percent credit card applied to balance transfers. Simply apply for a new, 0 percent card, transfer as much of your existing debt to your new card as you see fit, and start paying it down more vigorously to remove as much of that balance as you can during the allotted 0 percent period.

While both of these options allow someone to pay down their debt at a faster rate, they're essentially reserved for good-to-excellent credit consumers. If you want lower rates, you need a good score, which is why it makes sense to maintain a healthy score well into your 50's and beyond.

The Hassle, and The Guilt

The last reason it's important to maintain solid credit and good-standing accounts is the hassle and the guilt that comes with defaulting and paying late, which are what ultimately drive down your credit scores for good.

The incessant phone calls – which you're legally entitled to stop, by the way, as part of the Fair Debt Collection Practices Act – the scary looking letters (you can stop these, too), and let's face it, the hit to your pride. None of that's worth dealing with at any age, especially when you thought your financial woes were long in your rear view mirror.

Look, it doesn't feel “good” to have bad credit and it certainly doesn't feel good to owe money. Maintaining a good credit score is what you've done all your life, so why let go just because you're unsure of it's worth in 50's and beyond?

No one can tell the future, and it's impossible to say when or how a good credit score could come in handy down the road. But it's best to be prepared if the situation arises; you'll sleep better at night in the meantime knowing you – and your family – will be in good shape in case of a credit or finance-related emergency thanks to your lifelong dedication to paying on time and carrying little to no debt.

This post was written by Jason Bushey. Jason is a personal finance expert and you can find his work daily on www.creditnet.com.