During this and age where people call for rather complex principles to be normalized, one that is missed out is friends giving friends advice on finances. When one suffers a breakup, their friends run to their side and offer advice. Why not on finances? Here’s how to become a caring friend to one who suffers from bad financial decisions. Steve Sorense Embezzlement.
Some finance experts believe that money shouldn’t be a subject one must keep a secret. Of course, for purposes of decency, talks regarding money should be approached with caution. Encourage friends to make a budget and stick to it. Acknowledge challenges that come with it and avoid downplaying one’s financial struggles. Be empathetic and sincere when offering financial advice. Steve Sorensen Embezzlement.
Individuals who offer advice and do it in a kind and gentle way are usually the ones being listened to. Choose words wisely and practice patience. Your friend may not get things right the first time. Stick with them through the process. Once the budgeting hurdle is done with, encourage them to save and invest. Offer to help them start bank accounts dedicated for emergency funds, savings, and investments. Steve Sorensen Embezzlement.
Others may go beyond offering financial advice to friends and start investing on behalf of their friends. This practice isn’t exactly the best and is often discouraged by financial experts. Investing another person’s money and applying one’s own strategy can be tricky and opens a whole new world of problems. Stick to offering advice and helping friends build better financial habits that would encourage them to eventually get started on investing. Steve Sorensen Embezzlement.
Modern-day scams have become one of the biggest banes of people everywhere. Scam artists have utilized more sophisticated methods as people have become more aware of their modus.
For business owners and investors, it’s imperative that they know how to keep an eye out for investment scams, since a single one may have been crippling to an investor’s or business’ finances. Steve Sorensen embezzlement.
First off, investors need to understand that whenever they attempt to raise capital through loans or other means, a certain risk is involved. From endorsements to branding brochures, there are many ways businesses can raise funding. Steve Sorensen embezzlement.
However, not all solicitations are legitimate.
While regulators are going after scams and the people behind these scams, investors need to be doubly careful to whom they give money to. A complete understanding of the investment and a good deal of research is, of course, one of the most sure-fire ways to spot a scam. Offers that carry with them “guaranteed profits” should raise red flags. Steve Sorensen embezzlement.
As with anything in investing, possessing the virtue of patience goes a long, long way. Without it, eagerness may take over, and mistakes may be made; mistakes such as getting involved in a fraudulent transaction. Steve Sorensen embezzlement.
The pandemic has disrupted the livelihood of millions and has affected the finances of many. Side hustles have become a way for many to recover from the crisis. More than the income, these projects have helped people find something to look forward to despite all the challenges. Here are some ideas one can try. Steve Sorensen Embezzlement.
Even if shelter-in-place directives have been lifted in various places, many people are choosing to limit their outside activity to stay safe. The lack of social gatherings have given people the time to learn new skills. Because of this, online tutorials have become a good way for people to earn. From reading classes for kids to basic baking lessons and even to teaching the elderly how to use computer programs, many people are sharing their expertise to earn while helping others. Steve Sorensen Embezzlement.
Make a profit out of a hobby
Some people are so good at their passion projects that they deserve to earn from it. Whether it’s a craft or an artwork, many people are choosing to support their friends in their passion projects. In the process, these “hobbyists” also gain new fans of their own. These days turning to creativity is a way to cope with the situation. . Steve Sorensen Embezzlement.
Start a food business
People will always need food. During the, quarantine many have had the time to hone their cooking and baking skills. They might have also perfected a recipe that they think is good enough to sell. Since March, many people have starting food businesses that have turned into profitable ventures. Steve Sorensen Embezzlement.
As the COVID-19 pandemic rolled on, questions about job security and financial stability arose due to the nature of the virus. Unexpected unemployment and salary cuts could be causing individuals to feel anxious about their financial standing. Here are a few things to remember to manage your credit well. Steve Sorensen Embezzlement.
In a crisis as unpredictable as COVID-19, it would be helpful to review one’s current financial state. Monitor finances by going through all bank accounts, savings, payroll, and even investments. Estimate how far savings and emergency funds can go in the event of unemployment. The key to rising from financial anxiety is facing the truth about your wealth. Determine which parts of the usual expenditures should be cut. Steve Sorensen Embezzlement.
Take the reins by being proactive and planning. Global crises give rise to scams and identity theft. Make it a point to protect your identity by looking through your credit report. This would allow you to place a credit alert on your accounts to prevent fraudulent activities. Steve Sorensen Embezzlement.
Revisit the idea of withdrawing too much cash during a global crisis. When a large amount of cash sits at home, it is not ensured by the federal government. Also, the money withdrawn from bank accounts will not yield any interest and would only be in danger of being spent. The risk of being stolen at home exists as well. Only have access to enough cash. For all other expenses such as utility bills, food and groceries, and auto loans, and more, opt for cashless transactions. Steve Sorensen Embezzlement.