Your Product Listings are Protected From Other Sellers

Protecting your product listings from unscrupulous sellers is one of the biggest reasons why the brand registry is almost a necessary part of becoming an Amazon seller. When you’ve qualified for the brand registry, you have complete control over your products’ marketing and if someone else tries to use your logo or slogan on their listing, you can get it removed. Your listings are the only ones that can use the brands that you’ve put on the registry.

For example, if a seller tries to sell a generic phone charging cable by including the Apple logo on their listing, even to say it’s compatible with Apple products, their listing will be in violation of the brand registry regulations and Amazon will remove it. Your listings will always have priority for the brands you register, which means someone can’t pawn off an inferior product as something that comes from your brand, thereby devaluing your brand.

Your Revenue May Increase

The entire point of selling on Amazon is to make money, but when there are dozens of fraudulent listings trying to sell a similar product to yours at extremely low prices, it’s almost impossible to compete, even if your product is far superior to the cheap ones. The brand registry removes these fraudulent listings so you don’t have to try to show potential customers that your product is the original and worth what you’re charging for it.

The fewer low-cost fraudulent sellers you have to compete with, the more customers you’ll get and the more revenue you’ll earn. Of course, you’ll still have competitors, but they will be legitimate competitors and not those who are just trying to use your brand to sell an inferior product. While not all sellers may instantly see a bump in revenue when they first get on the brand registry, most will experience a steady increase over time.

You Can Improve Your Brand Awareness

The brand registry allows participants to use Amazon’s Sponsored Brands, an additional form of ad placement that allows you to promote up to three products using your brand name and logo. These ads appear at the top of a visitor’s search results above Sponsored Products. So, when a visitor searches for a product that’s similar to one of your promoted products, your Sponsored Brands ads will appear beside their results. 

These ads have shown to improve brand awareness because they show up multiple times in a search, giving customers several opportunities to click on them. Your brand is automatically placed ahead of similar products that aren’t on the brand registry. 

Conclusion

Enrolling in Amazon’s brand registry is really the only way to protect your brand and products from becoming devalued by fraudulent sellers. Not only that, but you’ll have less competition from sellers who sell inferior products and you’ll increase your brand’s visibility as well. There are really no downsides to participating in this Amazon seller feature.

The post <strong>Benefits of Joining Amazon’s Brand Registry for Sellers</strong> appeared first on MyVenturePad.com.

Investing in web analytics tools is one of the most fruitful investments that a company can make. Not only does it provide you with detailed reports of your current strategy, but it also helps you make improvements for the future. 

Using these analytics results as a base, you can save a lot of money you are spending unnecessarily on the paid advertisement and drive your efforts and money in the direction that brings more traffic and sales.

This article will comprehensively explain the ways to make money using advanced analytics.

Let’s begin!

What is Advanced Analytics?

Advanced analytics is a systematic analysis of web page data and content using a variety of automated tools and techniques. 

Implementing advanced analytics in your business helps your marketing strategy by understanding what your customers like and what factors drive them to your business or wooing them away from your brand.

It can help you plan future strategies and campaigns with confidence and precision.

There are majorly four kinds of advanced analytics:

• Descriptive Analytics
• Diagnostics Analytics
• Predictive Analytics
• Prescriptive Analytics

Why is Advanced Analytics Important?

Advanced web analytics not only helps in improving your customer experience but also improves your sales margin and profits.

Here are the top reasons why you should opt for advanced web analytics:

• Web analytics helps you know your visitors better and enhance their user experience.
• It lets you identify your best-performing page and your top traffic-driving content so that you can focus more on such content.
• It helps enhance your search engine optimization strategy to rank higher on the search engine results page.
• Analyzing your website helps your track top referrals and create strategies to gain more of them.
• It helps you easily track your ecommerce metric and valuable insights to utilize for increasing your sales margins.
• You can also track your traffic sources and emphasize more on the ones that are getting you more visitors.
• Web analytics tracks the links to whom you are referring and provides a detailed report of your top-mentioned links. Further, you can analyze those websites and connect with them for partnerships.

Top Ways to Make Money Using Advanced Analytics

Here are the best methods to adopt to generate more profits using advanced analytics:

1- Research and Analyze What Keywords Are Turning into Conversions

Set up marketing goals with your analytic tool and then identify the mechanism they apply to identify the search terms driving more conversions. This will help you in conducting your search engine optimization and pay-per-click.

Once you know what category keywords are working for you, it becomes smoother to observe your site visitors. You can identify the best-performing keywords and replace or eliminate the less-performing search terms from your PPC campaigns and other marketing strategies.

This will help you save a lot of bucks without extra ad spending and maximize your conversion rate, further resulting in prospect sales.

2- Analyze How Landing Pages Are Converting

All your web pages might not perform equally well for visitors. There are different conversion rates for different sets of web pages.

By examining landing page performances with advanced analytics software like Finteza, you can track conversions by channels, ads and keywords. It is easy to create sales funnels and find weak spots in your sales funnel to increase conversions.

The more authentic and valuable your content on each page, the more the chances of getting backlinks and customer conversions, increasing your credibility among visitors.

3- Identify the Missing Long-Tail

Implementing advanced analytics to your site provides you with the highest traffic-driving page and the lowest traffic-generating page.

Your idea of analyzing various web pages should be that a large number of audiences from your highest-performing page should also match the lowest-performing page. If that’s not the case, then you are missing an opportunity.

As a business owner, you should be grabbing all the profitable opportunities possible, and applying the long-tail concept through analyzing the numbers will help you do so.

4- Evaluate Latent Conversions

A latent conversion occurs when your visitors are directed to your website via pay-per-click, leave your site, and then come back later via another source, such as paid click, bookmark, or organic clicks and then convert to leads and customers.

This conversion analysis can adversely affect your PPC campaign because the conversion does not provide credit to your pay-per-click. If you are acquiring organic clicks that turn into conversion and not paid clicks, you are wasting your ad spending in the wrong direction.

Additionally, latent conversion evaluation lets you know that if your visitors convert into substantial leads through PPC and bring in more revenue, you can invest more in the same direction and maximize your ROI.

5- Compare Traffic Analysis

Automated web analytic tools allow you to conduct a detailed comparative analysis of your and your competitors’ traffic and sources.

By entering your competitor’s URL in the search bar, you can easily monitor your site’s traffic against your competitors. You can track what tactics they are adopting to draw traffic and where they are acquiring backlinks from.

Focus on the traffic of the highest-earning competitors and spend your time, effort, and money only on them. Merge and implement their techniques with yours to grow faster, increase your online reach and escalate your profit margins.

Final Thoughts

There are plenty of money-making tactics available for your business using advanced analytics. I have listed the top ideas that you can implement in your marketing strategy to maximize your profit margins and minimize your ad spending.

Web analytics tools use metrics such as bounce rates, visitor session time, the number of clicks, total traffic, referral resources, and traffic sources to measure your company’s present performance. This helps you improve your strategy and predict future business contingencies.

The post <strong>WordPress Blogs: How to Make Money Using Advanced Analytics</strong> appeared first on MyVenturePad.com.

Understanding eCommerce Conversion Rate

When talking about eCommerce, the term ‘conversion’ typically refers to the fulfillment of a purchase made through your online shop’s website.

eCommerce conversion rate refers to the percentage of site visitors who make a purchase. To get an accurate starting point with eCommerce CRO, know how to calculate the conversion rate first. A more precise formula can be used for this: conversion rate = (conversions/ total visitors) * 100%

So, if you get 1,000 people to visit your online store, but only 50 of them end up buying something, your conversion rate is 5% (50/1,000).

It may be called the ‘transaction rate’ or the ‘order rate’ in some analytics programs, but they’re the same in meaning.

Conversion rates are affected by a number of different aspects, but one of the most important is the understanding that customers have of your products.

When looking through your products online, customers can’t physically touch, feel, or check your items. Your chances of generating sales will improve proportionately by educating potential customers on the essential qualities and advantages of the products you sell.

9 Ways To Get Started With eCommerce CRO

Now that you have knowledge about CRO, it’s time to put what you’ve learned into practice by building and improving conversion strategies. Follow these steps to get started:

1. Analyze Conversion Funnels

How do visitors get where they need to go on your site in order to make a purchase? Where do their journeys lead them? 

Analyzing the customer’s journey through the conversion funnel is the first step in optimizing the conversion rate. You may learn how many people visit your site and go on to take some sort of action, like exploring a product and adding it to their cart, by analyzing traffic patterns. It’s also important to learn why visitors are leaving your site and which specific page elements are causing this. The data provided here will allow you to make educated choices about your CRO.

2. Have Powerful Calls-To-Action (CTAs). Calls-to-action in online stores are essential to achieving the primary goal of any online marketer, which is to boost conversion. Everything you put into your online store—from the layout to the user experience to the advertising—will be for nothing if you don’t have a clear and obvious CTA to encourage purchases.

Once the visitor completes the desired action (in this case, making a purchase), the CTA is successful. Many different CTAs are used by modern marketers.

Remember that size, color, clarity, and placement are all important factors for crafting effective calls-to-action.

3. Provide Simple Navigation. Keeping the homepage’s design as simple as possible is essential. It’s important not to flood visitors with too much clutter, both in the form of text and visuals. Instead, stick to the brand’s intended tone and message by using a clean, attractive design.

If you aren’t sure what to highlight, it’s usually preferable to choose either your bestselling or most successful products or categories, like new arrivals or current promotions.

4. Increase The Speed Of Your Website. Page speed has a significant impact on user satisfaction. Longer load times can reduce conversion rates. You may consult with an expert to audit the current speed of your site and offer advice on how to improve it.
5. Leverage Customer Testimonials. In order to have confidence in a product’s suitability and make an educated buying decision, users must have access to reviews written by other customers. The majority of customers refer to reviews for guidance when deciding whether or not to purchase. They’re particularly interested in two aspects of reviews: the average rating and the quantity of ratings used to calculate the average. Make sure that you display both of them for each product.
6. Use High-Quality Product Images. The disadvantage of online buying is that you can’t touch or try on the items before you buy them. In order to provide the buyer with a clear idea of what they’re getting, it’s ideal to display high-quality images or videos. Product pages that feature high-quality images and videos are more likely to result in a sale because they enable customers to picture themselves more easily using the items offered.
7. Make Your Site Mobile Responsive.  It’s not enough to simply build a responsive site; you must also guarantee that it displays perfectly across a variety of screen sizes, including desktop, mobile, and tablet. A mobile-responsive website is one that’s intended to provide a good user experience across a variety of devices without compromising design. The design and functionality of mobile devices is always evolving, so even if you get it now, your mobile-friendly website might not be sufficient in the future. You should be good as long as you keep testing, keep adjusting when necessary, and keep your mobile users in mind.
8. Know Your Customers. One core concept you can always advocate for is getting to know your consumers and clients. They’re the key players, the source of the data you need to advance. Keep their needs in mind at all times, find out as much as you can about their needs and questions, and then provide solutions that’ll help them in any way.
9. Track Strategies With A/B Testing. When trying to increase your website’s conversion rate, A/B testing new features is essential. After you’ve figured out what needs fixing, you can use CRO testing tools to see how various solutions stack up against one another. Using this method, it’ll be less of a hassle to determine which strategies are more successful in terms of conversion.

Conclusion 

It takes a lot of work to create a great online shopping business that has a high conversion rate. However, one of the most essential aspects to focus on is simplifying the complexities of your products. The eCommerce conversion rate optimization strategies that have been discussed in this article should ensure that your customers will have no trouble understanding your items, how they work, and why they should buy them.

After everything is said and done, you’ll be able to make the most of your leads and take your sales to the next level.

The post Conversion Rate Optimization (CRO) For eCommerce: How To Get Started appeared first on MyVenturePad.com.

Today, in this article, we’ll be looking at some quintessential money-making applications that will prove colossally conducive to you if you’re bent on making money from the comforts of your home. Some idle time and determination on your part are all it takes! 

So, without further ado, let’s look at some quintessential applications that are endorsed by millions – nobody shies away from some free cash!

1. VidMate Cash – Watch & Download Videos to Print Cash!

VidMate Cash certainly takes the lead if we talk about the top-most highly-grossing money-making applications. Available for all people based in India and Indonesia, VidMate cash allows its users to seamlessly watch videos, ads, and other stuff to fill their pockets with money! Yes, it’s that easy!

VidMate Cash is an absolutely free application that allows you to reap astronomical rewards without any real work on your part. 

Here’s what the VidMate Cash app will be paying you for:

• Installing applications
• Watching & downloading videos
• Completing tasks
• Referring the application to your friends

What’s more, upon signing up, you get an amazing signup bonus. On the other hand, referring the application to your friends will give you a bonus of ₹5. Furthermore, there isn’t a huge minimum withdrawal limit either – it’s just ₹5.

The makers of their ingenious application even go so far as calling VidMate Cash the best money-earning app – that’s how outstanding the application is.

Intrigued already? Watch ads and earn money through the VidMate Cash app now! 

With VidMate Cash, you get coins to perform different tasks – watching videos, watching ads, etc. – Later, you can convert these coins to cash and withdraw the amount into your account. 

VidMate Cash prides itself in its astronomical library of free movies and videos to choose from 1,000+ sites. What’s more, you can even download these movies and stream them offline on your mobile phones. Additionally, if it’s some pop music your ears are craving, you can even download music in a lossless format through this smart application.

Thinking of how to download VidMate Cash? Head over to their official website – vidmatecash.com – and download the APK now to get instant rewards! 

2. ClipClaps – My HAHAHAs Are Worth a Lot!

Have you always been a free spirit by heart? Do you find things usually a lot funnier than other people? Well, what if we told you that there’s a way you turn to convert your giggles into money? This isn’t dream stuff – what we said is as real as it gets!

ClipClaps furnishes an immense library in front of you that’s loaded with funny clips. Watch these funny clips, laugh, and earn money – that’s how basic yet rewarding this is!

Wondering how it works? First, you can download the app (available on both Android and iOS devices) and create a free account. You’ll then be presented with a myriad of funny clips that you need to watch until the time runs out, and that’s pretty much it!

The cherry on top, you can even upload your share of funny videos to watch other users benefit from them! The more videos you watch, the more your coin collection thickens. Later, you can convert these coins to cash!

3. Honeygain – Share your WiFi

Here comes another money-making application that demands no work from you! You can earn around $20 to $300 just by sharing your WiFi GBs with Honeygain. Make sure your phone is equipped with healthy WiFi with a swift speed. That’s it – leave your phone and earn money! This application is available on Android, Windows, and Mac devices. Download it now!

Ending Thoughts

If you’ve found a money-making application that resonates at the same frequency as yours, get it now and know what it feels like to have multiple sources of income. Our suggestion, go for VidMate Cash; you won’t be disappointed! Say hello to passive income – you deserve it!

The post Make Money Sitting Home – The Top 3 Must-Have Apps to Make Cash appeared first on MyVenturePad.com.

Dogecoin is a decentralised cryptocurrency in which a network of nodes, rather than a single party, maintains the digital ledger.

As a result, there is no central authority to disseminate cryptocurrency worldwide. As a result, the distribution of currencies has been designed to be decentralised.

Dogecoin Mining: An Overview

The protocol issues and releases Dogecoin in a pre-programmed manner. The miners are the recipients of the new mine Dogecoins. These crucial network players are the ones who mine and get rewarded with cryptocurrency in exchange.

The term mining is derived from removing valuable metals from the ground, as they too must be mined at a cost in terms of work and energy.

While Dogecoin miners pay fees and expend energy, they are not the consequence of delving into the ground pursuing precious metals.

The energy used to mine Dogecoin goes into dedicated computer machines, which power processors in a global competition to solve cryptographic riddles for a fee.

How to Mine Dogecoin?

How to get Dogecoin for free? The donation of computing power, also known as hashpower, to the Dogecoin network is required to contribute to Dogecoin mining. Miners with access to computer processing power can participate in mining because Dogecoin is an open, permissionless system like Bitcoin.

It was feasible to mine Dogecoin using home CPU and GPU computer gear in the early days of the cryptocurrency. However, because of Dogecoin’s recent popularity, the network receives an increasing amount of hash power, making mining more challenging.

Dogecoin can no longer be mined effectively with a computer processing unit (CPU). To give relevant hashpower to the network, at least a powerful graphic card unit (GPU) or, better still, an application-specific integrated (ASIC) mining computer is required.

Step-by-Step Guide

You must take the following fundamental steps:

Step 1: Buy Hardware to Mine Dogecoin

Purchase mining hardware or determine whether your CPU/GPU is capable of mining. You’ll need ASIC computers designed for script-based mining to mine Dogecoin profitably.

Official producers or resellers can sell them to you. It’s not uncommon to run into supply constraints.

Step 2: Install Server and Update Drives

Download and install the appropriate software (CPU, GPU, or ASIC) required to run the ASIC or CPU/GPU miners and any necessary GPU driver updates.

Step 3: Join a Mining Pool to Mine Dogecoin

Create an account with a compatible mining pool. The top five Dogecoin mining pools may be found here.

Step 4: Connect your Device with the Pool

To mine Dogecoin, you must first create an account with a mining pool and then use that account to link your mining machines to one of the mining pool’s servers.

Many tutorial videos on achieving this with ASIC machines or GPU/CPU. Many sites provide GPU and ASIC examples.

Step 5: Create a Dogecoin Wallet

You must register your payout address with your pool account to get any revenue from block rewards. If you haven’t already downloaded and set up your Dogecoin wallet, now is the time to do so.

Step 6: Start Mine Dogecoin

After set up, your mining pool’s account settings will monitor your hash rate, revenue, and payment. Most mining pools provide a dashboard or even an app to keep track of your mining operations.

How does Dogecoin Mining Work?

Dogecoin’s blockchain uses the same technology as other cryptocurrencies to add new blocks to its decentralised ledger and find consensus among network users.

This technique, known as “Proof-of-Work” (PoW), entails “mining,” in which individuals or organisations compete for the opportunity to add new blocks containing pending transactions to the blockchain ledger by employing specialised computer equipment.

Miners use their machines to try to construct a fixed-length code known as a “hash” with a value equal to or lower than the “target hash” of the new block.

Dogecoin Mining Hardware

DOGE mining can be done with three different types of hardware:

• CPU: Even today, your computer’s central processing unit may be an option, but it is not encouraged because it can damage your computer by overheating it.
• GPU: A graphics processing unit can mine Dogecoin since it is more powerful than a CPU.
• ASIC: A computer machine designed particularly to produce hashes is known as an application-specific integrated circuit. ASICs are significantly more powerful and, predictably, more expensive than GPUs.

Dogecoin Mining Software

You’ll need to get the software with your hardware once you’ve decided on it. Here are some of the most popular software solutions right now:

• CPU: Mine Dogecoin by Pooler
• GPU: EasyMiner is ideal for novices, CudaMiner is optimised for Nvidia GPUs, and CGminer works with all GPUs.
• ASIC: ASIC miners can also use CGminer and EasyMiner; however, most ASIC miners use MultiMiner.

Dogecoin Wallets

A dogecoin wallet is required for mining and serves as a secure storage location for any dogecoin rewards earned. A public key address for transmitting and receiving DOGE and a private key to access it makes up a crypto wallet. Types of wallets are listed below:

• Online: Anyone interested in mining dogecoin for pleasure can utilise an online wallet.
• Hardware: These are said to be the safest way to store cryptocurrency. These are offline crypto storage devices that look like USB sticks.
• Software: These are stored locally on your computer or mobile device rather than on the internet, making them more secure. You can utilise third-party software wallets or download the original dogecoin wallet.

Conclusion

“How to mine Dogecoin” is a common Google search phrase as more individuals look for a quick way to get DOGE without buying it on a cryptocurrency exchange.

The word “crypto mining” may sound daunting, but put your chisel, pickaxe, and shovel away because your computer is the only thing working here.

You’ll need a powerful GPU to mine cryptocurrency. Is it possible to mine cryptocurrency with outdated hardware? Yes, in the majority of circumstances, unless you selflessly desire to give your resources to the DOGE network despite operating at a loss, you’ll get paid little.

The post How to Mine Dogecoin- Earn free DOGE with your Laptop? appeared first on MyVenturePad.com.

Dealing with these expenses is easy when you have a steady flow of income. However, you may face certain financial issues when you move out of the workforce. To deal with the financial necessities, most individuals opt for suitable savings policies for their retirement savings. 

Retirement saving plans can be quite helpful for your golden years. With a decent plan for your retirement, you will not have to worry about the different expenses. You can use a retirement savings calculator to plan your investments. You can also improve your retirement savings by following a few simple steps. 

Tips for Improving Your Retirement Savings

Here are some tips you must follow to improve your retirement savings:

1. Begin early: Most individuals are under the mindset that their retirement ages are far away, and they have plenty of time to start saving. However, as you grow up, your responsibilities will grow with you. Along with this, you may not have enough to build a sizable retirement corpus for yourself. Therefore, starting early is one of the most important things you can do for your retirement. 

Beginning your savings early will also give you time to grow your savings with the help of compounding. With the power of compounding, you get to earn interest on interest. In addition, the power of compounding can help you maximise your returns when you hold the investment for a long tenure. 

2. Increase the saving amount gradually: As you keep excelling at your work, your annual income will grow. With the growth in your income, you may get access to more funds. At the same time, it is easy to spend all your additional income on the things you want. However, with an increase in your income, you must also increase your savings amount. 

When you gradually increase your amount that you are saving, you will achieve your retirement amount early. This way, you can grow your savings fast and retire early. First, however, you must ensure the increase in your savings amount doesn’t disrupt your daily financial requirements. 

3. Take calculated risks: While taking risks can be detrimental to your savings corpus, not taking risks may hold you back from earning substantial profits. Therefore, you can protect your savings and grow your savings by taking calculated risks. Calculated risks involve increasing your allocation to certain asset classes. You need to conduct thorough research into the equity and debt assets or opt for a good financial advisor for making the correct choices. 
4. Clear out the junk: You may have made certain investments in the past that aren’t performing well to match your requirements. You must liquidate your holdings and allocate the funds in better options if you own such investments. Cleaning out underperforming investments is important, as you get to allocate the funds in better-performing investments and earn suitable returns through these investments. 
5. Purchase suitable insurance plans: Opting for insurance is quite important, as you get to protect your loved ones when you’re not around anymore. With a suitable insurance plan, your loved ones will stay protected. Certain insurers also offer assured savings insurance plans. With a savings plan, you get to protect your loved ones and build wealth for your future simultaneously. Savings policies can also help you build for your retirement.

There are several types of savings policies in the market. Insurers like Tata AIA offer monthly savings plans to help customers save as per their requirements. In addition, you get additional features with plans like the Tata AIA life insurance policy. For instance, you can avail of a loan against the policy to deal with financial emergencies. 

Conclusion 

Planning for retirement can be a bit difficult since you’re planning for your unpredictable future. However, you can follow a few simple tips like beginning early, opting for suitable insurance plans, taking calculated risks, etc., to build a suitable retirement plan for yourself. 

The post Tips to Improve Your Retirement Savings appeared first on MyVenturePad.com.

It would be best if you began with an assessment of your financial situation, future financial goals, expected retirement age, and the ideal retirement corpus to sustain your current lifestyle. After that, you should research various available investment avenues and select the ones that align with your retirement plan. You should choose from many investment options that are available so you have a portfolio for your retirement financial planning. 

One of the investment options that you can select is a guaranteed savings plan; this plan offers you a guaranteed income after your retirement. Furthermore, the plan also provides you with life insurance cover, thereby safeguarding your family against uncertain events in the future. Thus it combines life insurance with guaranteed returns. 

Tata AIA Life Insurance offers some smart savings insurance plans to help you with your retirement planning. These plans are flexible as either an endowment or guaranteed payouts at predetermined percentages of the annualized premium as regular income. The plans also offer additional benefits to women policyholders.

It is advisable to design your investment portfolio per your risk appetite, expected returns, and retirement financial plan. A wide selection of investment instruments to build your portfolio is available, some of which have been discussed below:

1. Insurance Plans 

The investment portfolio for your retirement financial plan must contain a term insurance policy or an endowment insurance policy to safeguard yourself and your family in case of any unfortunate event. As these plans carry income tax benefits along with life insurance, you must include one in your portfolio. In addition, pension plans have the option of additional riders, such as waiver of premium, which you must consider to maximize benefits under the plan.

2. Unit-Linked Insurance Plan (ULIP) 

A Unit Linked Insurance Plan, or ULIP, is a product that offers you the benefits of insurance as well as investment. By investing in a ULIP, you can receive the benefits of a life insurance cover and investment in the fund/s of your choice. A ULIP provides considerable balance to any retirement financial plan. 

3. Equity Mutual Funds 

You can adhere to a systematic savings plan to invest in equity mutual funds; these funds invest in equity shares in the market. However, since the value of equity shares is susceptible to sudden and drastic change based on the movement of the share prices in the market, you should ensure that only a small percentage of your portfolio is constituted by equity mutual funds. 

4. Debt Mutual Funds

A relatively safe mode of investment for your after retirement plans is debt mutual funds. These funds invest in debt-based instruments and government-issued bonds, which carry a fixed interest rate and are almost entirely risk-free. Including debt mutual funds in your portfolio reduces the overall risk and uncertainty of your investment. 

5. Balanced Mutual Funds 

You can also opt for balanced mutual funds to channelise the funds from your savings plan. Balanced mutual funds invest your funds in a combination of equity-based and debt-based instruments, thereby ensuring that you benefit from high returns from the former and the certain and low-risk returns from the latter. 

Conclusion 

You look forward to living your retirement years free from financial worries. To achieve financial freedom after you stop working, you should tailor your savings plan and your retirement financial plan into an investment portfolio comprising insurance plans, ULIPs, equity-based mutual funds, debt-based mutual funds, and balanced mutual funds. A well-balanced and flexible portfolio ensures income and wealth to help you live at your current standard even if you have said goodbye to the workplace.

The post Planning For Your Retirement? Here’s What Your Portfolio Should Contain appeared first on MyVenturePad.com.

How Much Should You Have in Your Emergency Fund?

The answer is: “It depends.” If you’re only intending to use it for surprise expenses, like plumbing trouble and furnace repairs, then you should aspire to have $1000 to $3000 set aside in a savings account. These emergency savings should help you cover small to moderate problems without disrupting your monthly budget. 

If you’re hoping to protect yourself from bigger problems, like losing your job, then you should aspire to have been three to six months’ worth of income stashed away in a savings account. This can help you supplement any loss of income for several months and keep you financially afloat while you take on a recovery plan. Consider how emergency savings helped households manage everyday expenses throughout the pandemic. This amount of savings may sound too high until you’re in a situation when you need to rely on it.

Some other factors should determine the size of your savings goals, like whether this is a household fund or a personal fund and whether you have other safety nets in place (for example, insurance). 

What If You Don’t Have Enough?

You might not have enough to cover an emergency with the savings in your fund. So, what can you do if something goes wrong? If you are far from your credit limit, you could put the expense on your credit card or personal line of credit. Another alternative is that you could apply online for a personal loan and use the borrowed funds to help you manage the costs. You could resolve the emergency quickly and then manage the repayments later on. 

How Can You Boost Your Savings?

You don’t want to be vulnerable to any emergencies, so you should fill up your fund as quickly as possible. You can accomplish this in two ways: you can increase your income, or you can shrink your budgetary expenses to boost your savings in a short amount of time. 

How can you increase your income? You could take on a second job or a side-hustle. You could ask your boss for a raise. Or you could sell second-hand items online and then put all of the profits into the emergency fund. 

How can you shrink your budgetary expenses? Here are some options that you could try:

• Use coupons, discount codes and cash-back apps when shopping in person
• Use browser extensions and coupon apps when shopping online 
• Cancel unnecessary subscriptions and memberships
• Order less takeout and restaurant food
• Prepare coffee at home
• Call creditors to negotiate the cost of services 
• Workout at home instead of at a gym or studio
• Walk or take public transit instead of calling a taxi or rideshare service
• Pay all of your bills on time to avoid late fees

Make sure that you have enough money sitting in your emergency fund. That way, when something goes wrong, you’ll be confident that you can handle it. 

The post Do You Have Enough Savings in Your Emergency Fund? appeared first on MyVenturePad.com.

So, it is essential to know how to manage it when it comes to your money. Through this article, we will guide you on the intricacies of managing money. Once you get the hang of it, you’ll notice that not only you’re able to save money, but you’re able to fund your business more. So, here are some techniques you should consider adding to your business model:

Have a Record System

Numbers on paper probably may mean nothing to you. However, you need to ensure every data has a proper heading and subheading and needs to be a part of your records. So, all the money that comes in and goes out of your business needs to be documented. Not only are you bookkeeping, but you’re also keeping a record for yourself. It helps you compare figures when you sit to budget. Suppose you learn that your suppliers are charging you more than you should be paying. So, next time you go to get supplies, consider changing the vendor or going for a discount. Don’t let different elements of your business steal money from you. 

Top Up Your Skills

You can start a business at any age. However, as you manage your business, consider topping up your educational credits. Luckily, with added flexibility and self-paced learning, online education gives you a broader and global perspective on various subjects. Similarly, if you already have a bachelors degree under your belt, consider going for an online MBA in finance to hone your skills. The reason being, while you’re learning the ropes, you’re exposing yourself to experiences and insights that can help your business. Your knowledge and skills will help you take care of your money better. So, while you’re working on your money, don’t forget to work on yourself. 

Check Your Credit

You can’t go on managing a business without knowing where your credit score stands. Simultaneously, it wouldn’t make sense if you’re working a business without paying all the necessary taxes. Credit scores are important because they help you when you need to apply for a loan or need investors to look in your direction. However, always ensure you take out a loan to pay back and don’t splurge your finances. Also, when it comes to filing your taxes, make sure you do those on time. 

Keep Your Personal and Business Accounts Separate

You’ve heard never mix personal life with business, and it validates for your money too. Don’t ever mix your accounts and think you’ll know how to manage your money. As a business, pooling money together makes it difficult to keep tabs on how much you need to use and how much needs to go in saving. When there is no distinction between your finances, the chances of you going bankrupt are high. After all, you may end up using all the money you kept for your company.

Save Where You Can

You may think this makes you miserly, but that’s not true. Saving money is fundamental for your business. It allows you to accumulate all your savings and funnel them onto other aspects of your business. When it comes to saving, you can do it in numerous ways. Start by buying power-saving bulbs and switches. Turn off the lighting of any room that you’re not using; you can try investing in solar power at some point as well. They may be slightly expensive, but they’re an essential investment in the long run. You can even consider ordering items in bulk instead of smaller orders. As a result, you will notice that you save immensely, and then you can decide what you want with those savings. Either invest them ahead or put them in savings. 

Consider Renting Properties

As an entrepreneur, there may be a possibility that you have a warehouse or an office space you’re not using. So, why hold on to them? The office space can also become shared spaces. You can invite other startups or individual business owners to rent your property. Not only is this an investment, but this is also a great way to make money on the side. This money can create your emergency fund, and you can use it to increase employee benefits. 

Listen To Experts

Fortunately for you, numerous people have thriving businesses up and running. What’s even better is that these experts are willing to share their secrets in the form of podcasts, books, or even interviews. You should try and get into the habit of listening to them. You never know what you might learn. Suppose you understand that they made the same rookie mistakes you did as a business owner. Maybe they have tricks up their sleeves to help you save money. No matter what it is, it would help if you looked into it. So don’t discredit expert advice; instead, pay attention to them. 

Set Goals

You can’t sit on your money and leave it in your accounts; if you wish to keep your business model pushing forward, set goals for yourself. They help you decide on how your money will get used. Short-term goals such as a better product may require less money than a long-term goal such as expansion. It will help you divide your money better. It will also inform you how much money you should earn to fulfill long-term goals and what alternative revenue sources can help you achieve this. Goals also suggest what your immediate source of income should be and what incomes need to go into saving.

Find a Mentor

You may need a mentor at any point in your life. Mentors are professionals who have been leading the game for a long time. They can guide you on how you can be a better business owner and how you can save your money for future investments. Mentors also help you pick where you went wrong with your business model. So the next time you decide to take up a project or cut a deal, you know what you need to do.

Wrap Up

Suppose you want to have good money management skills. You need to pay attention to what you’re doing with your money. It means keep lucrative records of all critical data entries and make sure you note where a large chunk of your money is going. You also need to keep an eye on your credit score and never let it sleep. It would help if you worked as much as your business model to allot time for yourself and learn new skills to help you with your money. Ensure your accounts and your business funds never mix. Finally, cut back on your expenditure, ask mentors for help, and use professionals to guide you.

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Using Equity Release

This was recently explored by Key Advice who researched how people were planning on boosting their retirement income. The research revealed that only 2 in 5 were happy with their expected retirement income but just 30% would consider using property wealth in retirement. Equity release involves obtaining money that is tied up in the house while still living there while making interest payments.

Property Wealth Considerations

Equity release can be beneficial because it can allow you to access a significant amount of money without having to downsize or make any serious changes to your life, but it is also important to note that it is not for everyone and there will be risks attached. So, why aren’t people using property wealth to fund their retirement?

Inheritance 

The research revealed that 16% of homeowners want to leave their house to their family with equity release affecting the amount that they will inherit. It is important to note that the type of equity release plan you sign up for will have a big impact on the inheritance you will leave behind, so you should always speak with an equity release specialist to work out the best solution for your needs.

Borrowing Money 

Another reasons is that some people are worried about borrowing money in retirement. 15% of people said that this was why they were not using property wealth to fund retirement, but you must also consider what the alternative is with downsizing being the most common option at 42%. Additionally, drawdown equity release plans can help to keep interest payments down as you only release money as and when you need it.

Potentially Missing Out

Will Hale, CEO of Key Services, explains how people could be missing out by not considering using property wealth:

“With people retiring this year owning homes worth an average of £388,900 and total property wealth of £142 billion there clearly is a lot of wealth that could be used in retirement. Many will not need to use their home as part of retirement planning, but it is worrying if people are not taking property wealth into consideration due to a lack of awareness of the options available to them or as a result of myths or misconceptions about products.”

It is important to think ahead when it comes to retirement and property wealth could be a great way to boost your retirement income. 

The post What Are the Reasons for People Not Using Property Wealth in Retirement? appeared first on MyVenturePad.com.