3 Questions To Ask About Remittances and Your Finances

Have you ever sent money to someone via a wire service or electronic payment? If so, you have made a remittance. In many cases, migrant workers make remittances when they send money to their families in their home countries. Workers transfer billions of dollars internationally each year to their loved ones. 

Global remittances in 2019 reached a high of US $554 billion, but they fell in 2020 due to the COVID-19 pandemic, which reduced work hours or eliminated job opportunities altogether. Nonetheless, with large disaspora populations living in the United States, remittance levels still contribute significantly to a number of foreign economies. Governments make remittances to one another to import goods.

Remittances are also frequently made within the country, such as money transfers between parents and children or friends as well as online or electronic payments to merchants and contractors. 

A number of specialized companies meet the needs of this financial niche, which has developed into a significant economic factor. Moving from the larger picture to focus on your personal finances, remittances could play a role in your future. Here are three important questions to ask.

How can you use remittance services when managing your own finances?

When setting up a personal budget, you need to know how much money you have coming in each month, each quarter, and each year, and compare that to expected expenses. You also need to put aside funds for emergencies. 

These are the basics of budgeting, but every family’s situation is unique. Perhaps you are supporting a child or other relative in the United States or abroad. By using remittance services, you can quickly and easily transfer money at very low costs.



You can also easily make and even schedule electronic payments for many expenses, including household utility and telephone bills, internet services, and delivery services. Electronic transfers let you pay all your bills without leaving home. Service providers keep electronic records, so it is easy for you to keep a close eye on your transfer.

Are remittance services good investments?

The industry of money transfers or remittances is sizeable, and providers compete with one another. Transfer methods have advanced in the last few years so that remittances are faster and less expensive than ever before. 

Remittance services have good investment potential. To determine the best options for investment, consider specific factors, including: 

• Global reach
• Technological capabilities
• Innovative services
• Nature and speed of growth

This is an evolving, mercurial industry. You must stay informed about trends. Digital remittances companies offer specialized services at lower rates than traditional banks, especially for international transfers, and they are driving development in this sector. 

Patterns seem to show this industry will be growing and changing for some time, making it a potentially worthwhile choice for informed investors.

What role will remittances play in the future of the global economy?

Remittances are an important factor in the economies of developing countries. On an individual basis, remittances directly help individuals and families. They fund life’s basic necessities such as food, but they also pay for improved quality of life by opening up access to education and health care.



Globally, international remittances boost national economies. They help smaller and developing economies grow and deepen by supporting the needs of one family at a time. Altogether, small remittances sent to individual families add up to significant amounts. This influx of capital helps stabilize developing countries, thereby strengthening the overall economic outlook for the planet.

While remittances may not initially seem to affect you personally, they in fact play a large role in the overall global economy. Remittances often refer to international money transfers, but domestic transfers are also a large part of this financial niche. Remittances affect your life daily, whether you choose to pay bills electronically or understand the value of a stable global economic system.

4 Tips for Deciding Where to Move After Retirement

Retirement is an occasion to be celebrated after a life of hard work, planning, and saving. With so many options worldwide, the idea of searching for the best place can be overwhelming. 

While most people stay in their current homes, others decide to relocate. Deciding where to live after retirement should involve a thoughtful process instead of just picking a favorite childhood vacation spot. Below are four things to consider when choosing a retirement home

Cost of living

Choose a city with an affordable cost of living; when you choose a retirement home, your cost of living will play a significant role in your day to day life. Find a city with an affordable cost of living that suits your lifestyle and budget. You should also ensure that housing cost is within your financial means. Do not just consider luxury homes without checking your budget.

Safety and Security

Always consider the safety and security of the area; as you grow older, safety should be your number one priority. Take a look at the economic data and crime statistics of the cities you are considering moving to and choose somewhere you can feel safe. 

Crime varies from place to place, and some towns may not have available crime statistical data online. It would be best if you considered turning to the local police or the local people for answers. This will give you specific information making your decision ultimately more straightforward.

The healthcare services and amenities

Choose a city with available healthcare services; before moving to a new town, always consider the availability and quality of the healthcare system. Ensure that there are hospitals and available medical emergency services nearby in case you are in dire need. 

Talk to the local people and do some research, inquire about hospital wait time, emergency response time, and local pharmacies. It would be best if you chose a city that will make you feel taken care of.

Weather and climate

Consider the climate of the area; weather should be factored in when selecting a retirement hometown. You will spend your retirement years in the weather of your choice. Whether you want to move to a warm climate area in a small beach town or a cold winter town in the south, it is yours. 

Most times, retirees move to a warm-climate area to avoid the risks that cold weather pauses on their health. The real hustle of scooping snow from surfaces or the threat of slipping and falling on ice is less manageable for aging people.

When considering your final retirement home, you should ensure to explore all your options and find all the factors named above. Discuss with your friends, family, and independent advisors about this next chapter of your life. This will help with emotional preparation if you decide to move out of your current city. Acquaint yourself with the new area you are considering moving to.

5 Business Ideas for the Natural-Born Salesperson

If you are a natural-born salesperson, you have a particular set of skills that help you succeed in almost everything. For you, navigating the grand space of your many interests is key in the process of finding your entrepreneurial liberation. This list, while not exhaustive, is designed to get your wheels turning about what you'd like to make of yourself with the skills that you have. Let's talk about five business ideas that pair well with the natural-born salesperson

Become a business owner.

Use your skills as a salesperson to start your own business. The supplements industry is booming right now; according to research, the global dietary supplement market size was approximately 123.23 billion in 2019, and this number is only going up as people from across the globe become more educated and interested in their health and well-being. 

Leverage the growing demand by starting your own supplements business and use a dependable, high-quality supplements manufacturer to create, develop, and package the best supplements for you to sell either online or in a brick-and-mortar shop.

Superior Supplements Manufacturing is a private label manufacturer, creating and developing the highest quality supplements (including CBD, pet supplements, and vitamins that target anxiety relief, weight loss, immune support, and more) in the form of capsules, gummies, powders, and others. 

Superior Supplements Manufacturing also offers label design, which saves you time and money by not having to hire a designer. Especially if you're a new business owner, you'll appreciate the turnkey experience that Superior Supplements Manufacturing offers.

Try out promoting or influencing.

Night club promotions is an exciting and fast-paced career where you can throw parties for your friends and get paid! Similarly, influencers are self-starters that serve as ambassadors for themselves and other brands. For starters, you should have a strong following on social media. 

Then, if you have a knack for promoting, see if a nightclub or brand will pay you to help boost their attendance or notoriety. As an influencer, it's probable that your activity online is being scouted by company marketers. They would love to partner with you to sell their products and brand name. 

Generally, promoters begin in this business by first promoting regular nights at established night clubs, then by working an agreement with an owner to have an exclusive night. Some successful influencers eventually receive the backing to start their own venues.

Think about antique dealing.

If you are a salesperson with a low-maintenance mindset, you can start this business in your garage with minimal inventory! Start part-time and build this business while tending to detail. Stick to buying items that you are confident that you can flip quickly for a good mark-up. Also, avoid getting stuck with slow-moving inventory. To experience success, develop stand-alone expertise in a specialty, and build a loyal customer base.

Startup your own bartending service.

Start by researching private bartending courses at the local community college or adult learning center, get a safety certificate if your state requires it, and then you’re ready to go into business. 

Normally the client will provide the alcohol and the glasses, but you might need to bring a few mixing tools or even a service cart if you want to impress. Demand for this service will run strongest on the weekends, making it a great part-time gig! Initially, you can check out liquidation sites to build up your inventory and industry connections.

Become a freelance writer.

In these modern times of social distancing and shutdowns, remote work opportunities are a godsend. Freelancing presents an opportunity for you to sell your skills and yourself. Today, there are still some freelance writing opportunities at traditional publications, but the big opportunity is online in content marketing. 

Business and consumer-centric websites are equally rushing to post more content related to their business space, draw traffic from search engines, and position themselves in the minds of likely customers. Some companies will require that you have expertise in their industry to write for them, but others will consider paying you to write articles, as long as they are well researched and well-written.

Be a sales trainer.

While there are all kinds of training that corporations will pay for, we are focusing on sales training because the demand is so extensive. It is a significant role, even for small businesses. If you don’t have great contacts at larger companies, it would be wise for you to target smaller firms, such as those with sales forces of five to 25 people. 

Small enough so that everyone isn’t trying to compete for their business, but large enough that they are likely to be willing to pay for your service.

4 Saving Tips to Help You Afford All of the Luxuries You Want in Life

Save Money

Everyone enjoys indulging themselves now and then. However, if you're the type of person who wants all the best that life has to offer, then you're going to need an enhanced savings plan. Without a doubt, saving money on any level is good, but it takes some extra effort to always have the money available to use when you want to truly enjoy yourself. 

To help enhance your lifestyle, here are four savings tips to help you afford all of the luxuries you want in life.

Do-it-Yourself

A four-dollar cup of coffee isn't going to break the bank. However, a four-dollar cup of coffee every single morning for an entire year just might. Not including taxes, you'd spend almost $1,500 on coffee. That's a large chunk of change that could make for quite the luxurious purchase. 

Therefore, rather than gulping your money down, it makes sense to buy your own coffee gear so that you can make coffee exactly how you like it for a fraction of the cost. Even if you go all out and buy the best equipment, the cost of making your own coffee will quickly be recouped.

Think Ahead

If you're going to save a lot of money, you've got to have goals to shoot for. Sure, essentials like a retirement account and emergency fund are nice, but it's also important to have some fun goals to save for to help hold your interest. Make sure you know what you’re aiming for and have all the information you need to get there. 

Perhaps you're saving for a luxury yacht from somewhere like Naples Nantucket Yacht Group. Maybe you are looking to install a new indoor pool. Whatever you aim for, be sure to keep it front and center to help maintain your motivation.

Remove the Distractions

There are plenty of things in life that, while nice to have, aren't the ultimate in luxury. Therefore, it's important to look over your expenses and determine what you can eliminate to help you save money for those things that are truly worthwhile. 

Try to consider how much value you get out of things like monthly subscriptions, entertainment packages, and other ongoing costs to determine if they're worth keeping around. If they don't add value to your life, then it's time to kick those costs to the curb.

Flex Your Money Muscles

Cash that's sitting in a safe in the basement of your home isn't doing you any good. While it may be protected from loss, it's not doing any work to help you earn and save more money. 

That's why it's important to ensure that every cent possible is in some type of interest-bearing account to help grow your wealth. As you continue to earn money, this passive income becomes like a snowball rolling downhill, allowing you to achieve your savings goals more quickly.

When you're chasing after your savings goals, it can be easy to become distracted. Especially when you see people around you spending money on frivolous things, it can be tempting for you to spend money on those same frivolous things. By staying focused on what truly matters, though, you'll be able to avoid these temptations and be rewarded with a luxurious lifestyle that puts those around you to shame.

Legalities to Consider When Leaving an Inheritance to Minor Children in Your Will

If you are thinking of leaving bequests to minor children in your last will and testament, you should keep several things in mind. If the children receive an inheritance while they are still under the legal age of adulthood, gifts of value like money, investment shares, or anything of significant worth may be held in trust until they become adults. 

Here are considerations that may impact a child’s inheritance.

Child Custody

Children of divorced parents may be experienced with shared parenting, which means both parents oversee the financial interests of their kids. If an inheritance is left under the supervision of one parent or the other, it needs to be designated that way. 

Otherwise, either or both parents may try to gain control of the inheritance and possibly misuse it before the children reach legal adulthood.

Trusteeship

You can designate another relative or someone outside the family to serve as trustee of the children’s inheritance until they are old enough as stipulated in the bequest to receive the gift as an adult. However, the trustee should give consent and understand the terms of the bequest before you add that person to your Will. 

Considerations for any person to serve as trustee include that person’s age, health, and other responsibilities. For example, if the trustee is in the military before the kids reach legal age, could the trustee be serving overseas in a role that would make it difficult to return to the U.S. if needed?

Specific Designations

If you bequeath financial gifts to minor children without strings or guidance, the money can be used for anything when the kids grow up and receive the inheritance. If you want them to use the funds for college, travel, a car, or another specific expense, that should be clearly spelled out in your Will. 

If the gift is to be used for college, will the children receive it as soon as they enroll in college classes, when they successfully earn passing grades for a semester of courses, or when they receive a college degree?

Legal Questions

As you can see, leaving an inheritance for underage children can be challenging. It is important to be sure that your bequest is clearly explained and that the person you want to care for the gift until the children grow up is capable of doing so. Consult a trust attorney for help with arranging this type of inheritance so there will be no problems later.

Plan your bequests ahead of time by considering the details. Consult a legal authority who can help you make adequate arrangements for leaving minor children an inheritance.

5 Things You Should Do for Your Home This Summer

Summer is almost upon the world, which means it's time to ensure that your home is ready for the higher temperatures. Even if this summer may have fewer get-togethers where you live because of quarantining measures, that's no excuse to not keep your home properly taken care of.

After all, if you ignore simple maintenance tasks, you may wind up with bigger problems down the road. There are, of course, countless things you'll want to check in on before temperatures start to rise, but here are five of the most important things to do for your home this summer.

1. Tune-up your air conditioner.

If you're planning on spending time indoors to stay cool, you're definitely going to want to make sure that your HVAC system works. Many times, people wait until it's too late to get an appointment scheduled to have their HVAC serviced and wind up suffering through several days of hot, humid weather inside and out thanks to the rush of people trying to get appointments. 

Get ahead of the spike in demand and schedule your HVAC appointment now to make sure your AC's ready to go when the days get hotter.

2. Safeguard your pool.

If you're planning on swimming this summer, you'll want to make sure to perform a variety of maintenance tasks, from checking the levels of chlorine and other chemicals to cleaning out any debris that may be in there after last season. One of the most important aspects of any pool is the accessories that help keep it safe, especially if you have pets or young children at home. 

If you don't have the proper kind of pool fencing or cover, a pool fence company can help you fix your problem and create a safer outdoor space for all. Sadly, swimming pool deaths are common during summer months, so make sure to invest in a fence that keeps your backyard safe this summer.

3. Inspect your roof and your home's exterior.

The winter weather can cause all kinds of problems for your home's exterior. From damaging the roof due to heavy snow or hail to cracks in your home's siding, it's always a good idea to do a perimeter check of your house each spring or during the start of summer. 

Having this routine can help you catch problems before they become much irreparable, allowing you to nip them in the bud—rather than having to deal with a full-on roofing replacement (or worse!) later on.

4. Clean all windows and screens.

Cleaning your windows is a good idea since it keeps your house looking nice and lets you see the outdoors much better. Summer is a time when many animals come out and flowers begin to bloom, and you don't want to be looking outside through a smudged or dirty window.

If you've got window screens, you'll want to clear them of leaves, cobwebs, or any other detritus, too, since they can obstruct your view or aggravate your allergies if blown indoors when your windows are open on warm days.

5. Inspect your outdoor plumbing.

If you've got a hose spigot and plan on gardening, make sure to test it out to make sure no pipes froze and cracked over the winter. Getting this taken care of sooner than later can be especially important if you use your hose to fill up your pool or water your lawn with a sprinkler. 

Again, nobody wants to be stuck waiting for an appointment with a service professional when the weather truly gets hot, so do yourself a favor and double-check that everything is in good working order ahead of time.