Proper financial management – most coveted by millions and millions of consumers all over the globe. Faced with this tough economy, it is harder than ever to handle your finances well. But the great news is that establishing a solid financial plan for your future has become more affordable and attainable. There are a lot of online personal finance tools that are offered to individuals for free to help them manage their finances better. These are effective instruments to become financially stable while saving yourself from getting into debt trouble.In today’s modern time, tracking every single detail is quite hard and even more difficult when money is the issue. Thus, getting help from online personal finance tools sounds very beneficial. In addition, these tools come free and very handy. Calculating your cash inflow and outflow can be easily done in the comfort of your home facing the computer.Personal finance is a method of following your finances in a more streamlined manner. Since listing down on a paper every detail of your expenditures does not function well any longer, a personal finance device found online gives a far bigger and better assistance.The following are some of the best online personal finance tools from budgeting to checking one’s credit score that are offered to individuals for free:For Money Budgeting1.) Mint.com·Mint.com is one of the most popular and well-loved free online personal finance tools by the people. With over 8,000 financial company connections worldwide, this online means offers a wide variety of understandable and easy to use tools.·Once you have registered an account, you get 100% access of your whole finances such as your credit cards, grocery bills, loans and other personal expenses.·It offers a very detailed tracking program about everything that goes on with your finances from – the things you spend your money on, how much monthly savings you have as well as your investment’s performance.·Automatic alerts are also given to you through a text message or an e-mail especially when you are on the brink of reaching your card’s credit limit or if you have too little money deposited in your bank account.·In addition to these services, this online tool can also show you budgeting charts and spread sheets that teaches you how to budget in every expense category.2.) Wesabe·Wesabe.com is a website that provides strong financial management instruments while at the same time having that social networking appeal since it offers an active forum for clients who seek support and give encouragement to each other in order to reach their respective monetary goals.·Since it is more hands-on website as compared to Mint, you have the choice of putting your bank or credit card statements on your own. Since this is not done automatically, you safeguard your identity as well as important details such as your account numbers and passwords better.For Financial Planning3.) Buxfer·A more basic and less updated free online personal finance tool found in the web, it is best for people who are looking for fuss-free financial planning instruments.·However, what makes it stand out among other online financial planning device is its user-friendly interface. Buxfer is equipped with a step-by-step how to guide, easy to understand instructions as well as fast account set up.For Investment Tracking4.) Social Picks·SocialPicks.com is a business based online company that focuses more on tracking a person’s investments. It provides an independent service wherein you can easily gain access of your asset’s performance while at the same time allowing you to make comparisons with other investors. Financial advice is also provided to help you market your investment better.For Credit Score Checking5.) CreditKarma.com·Functions just like your credit score bureau company, this website offers you an updated status of your credit score. Also, advice is given on how you can improve your rating as well as tips on how you can repair a rating with glitches.·The only main difference is that you need not give out your credit card details. All you have to type in is your name, address and SSS (Social Security Number).Online personal finance tools are great devices in keeping yourself up to date with your finances current status while at the same time giving you help to make financial planning more effective without the scare of getting scammed.
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Business Loans In Canada: Financing Solutions Via Alternative Finance & Traditional Funding
Business loans and finance for a business just may have gotten good again? The pursuit of credit and funding of cash flow solutions for your business often seems like an eternal challenge, even in the best of times, let alone any industry or economic crisis. Let’s dig in.
Since the 2008 financial crisis there’s been a lot of change in finance options from lenders for corporate loans. Canadian business owners and financial managers have excess from everything from peer-to-peer company loans, varied alternative finance solutions, as well of course as the traditional financing offered by Canadian chartered banks.
Those online business loans referenced above are popular and arose out of the merchant cash advance programs in the United States. Loans are based on a percentage of your annual sales, typically in the 15-20% range. The loans are certainly expensive but are viewed as easy to obtain by many small businesses, including retailers who sell on a cash or credit card basis.
Depending on your firm’s circumstances and your ability to truly understand the different choices available to firms searching for SME COMMERCIAL FINANCE options. Those small to medium sized companies ( the definition of ‘ small business ‘ certainly varies as to what is small – often defined as businesses with less than 500 employees! )
How then do we create our road map for external financing techniques and solutions? A simpler way to look at it is to categorize these different financing options under:
Debt / Loans
Asset Based Financing
Alternative Hybrid type solutions
Many top experts maintain that the alternative financing solutions currently available to your firm, in fact are on par with Canadian chartered bank financing when it comes to a full spectrum of funding. The alternative lender is typically a private commercial finance company with a niche in one of the various asset finance areas
If there is one significant trend that’s ‘ sticking ‘it’s Asset Based Finance. The ability of firms to obtain funding via assets such as accounts receivable, inventory and fixed assets with no major emphasis on balance sheet structure and profits and cash flow ( those three elements drive bank financing approval in no small measure ) is the key to success in ABL ( Asset Based Lending ).
Factoring, aka ‘ Receivable Finance ‘ is the other huge driver in trade finance in Canada. In some cases, it’s the only way for firms to be able to sell and finance clients in other geographies/countries.
The rise of ‘ online finance ‘ also can’t be diminished. Whether it’s accessing ‘ crowdfunding’ or sourcing working capital term loans, the technological pace continues at what seems a feverish pace. One only has to read a business daily such as the Globe & Mail or Financial Post to understand the challenge of small business accessing business capital.
Business owners/financial mgrs often find their company at a ‘ turning point ‘ in their history – that time when financing is needed or opportunities and risks can’t be taken. While putting or getting new equity in the business is often impossible, the reality is that the majority of businesses with SME commercial finance needs aren’t, shall we say, ‘ suited’ to this type of funding and capital raising. Business loan interest rates vary with non-traditional financing but offer more flexibility and ease of access to capital.
We’re also the first to remind clients that they should not forget govt solutions in business capital. Two of the best programs are the GovernmentSmall Business Loan Canada (maximum availability = $ 1,000,000.00) as well as the SR&ED program which allows business owners to recapture R&D capital costs. Sred credits can also be financed once they are filed.
Those latter two finance alternatives are often very well suited to business start up loans. We should not forget that asset finance, often called ‘ ABL ‘ by those Bay Street guys, can even be used as a loan to buy a business.
If you’re looking to get the right balance of liquidity and risk coupled with the flexibility to grow your business seek out and speak to a trusted, credible and experienced Canadian business financing advisor with a track record of business finance success who can assist you with your funding needs.