Planning For Emergency Financial Situations

Emergency financial situations can happen to anybody and any financial arrangement exercise is not ideal without planning for such occasions. The whole idea of having an emergency fund is to offer a cushion against any unexpected expense.

This will ensure it does not have any negative impact on your financial condition and does not rip off the whole financial security.

There are many circumstances which can cause a financial emergency such as a sudden illness, accident, medical emergencies, emergency house repairs, loss of a job, emergency car repairs and much more.

The major reason for having an emergency fund is very clear because when a person falls into an emergency financial situation, they will have to break their savings or make a compromise to get the needed money.

It’s not rare to find people who just take out their credit card and swipe it for hard cash. Opposing popular opinions, credit cards are the worst way to fund any financial emergency. The fastest way to get thousands of dollars its to get a car title loan it is not a long-term solution but a short-term solution.

In a circumstance where you’ve taken a cash advance with your credit card to get the needed money, the credit card company will charge you a cash advance fee with an interest rate. This is a very costly way to borrow and manage finances for emergency situations.

Therefore, what is the best amount that should be set aside as emergency money? There are diverse opinions on it. Some professional’s experts agree that a minimum of 3-6 months’ worth of monthly income should be set aside for an emergency situation. This amount can differ according to marital status, the size of family and lifestyle.

Everyone must reserve some extra cash in case of emergencies. But, the amount to reserve depends on your income and monthly expenses. The amount that is needed for your emergency fund is open to debate, the minimum amount should be sufficient to cover your expenses for daily living for at least 3 months. It’s also ideal to save for 6 months even though some financial advisers agree on a full year worth of cash.

These funds must be kept aside in an instrument, which is easily available when needed. It could be money in a bank account, hard cash, liquid funds or fixed deposits. This will ensure the fund is always accessible instantly or within a short period when it’s needed.

Where to Keep the Cash

Your situations and what can offer you peace of mind are the factors that can help you determine how cautious you want to be. Keep your emergency fund somewhere that is safe and accessible because you may be required to get the cash in a hurry when an emergency arises. The best option you’ve is to open a money market account or savings account. But, always examine their offer with regards to the interest rate, minimum balance, and other terms.

Distracted Driving Is a Bigger Problem Than We Thought

The numbers do not lie: 37,150 people in the US died due to distracted driving in 2017. But, sadly that is not the worst part of the news. Researchers are finding that there is no single cause to preventing distracted driving.

This means that there is no direct route to a solution resulting in more and more deaths. Right now, the only thing proven to work is to spread awareness about distracted driving.

Another thing that experts are deciding to try is how to make smartphone connectivity to cars to take less attention. Almost every new car on the market makes it easy to connect your phone to your car.

You are able to stream music, map directions, and in some cases even order food, coffee, etc. This is taking many drivers’ attention away from the road, in drivers aged 17 to 22 spend at least 12% of their time behind the wheel messing with their smart phones. Any percentage of time on your phone behind the wheel is too much time directed away from the road.

Both Apple and Android have their own extensions for cars. At one point Apple demanded more of customers’ attention than the Android version when entering directions and getting from one place to another. But, when it came to texting Android was by far more of a distraction. However, both must make a change to reduce the threat of distracted driving.

With all of the new tech in cars, come inward facing cameras. Some people are not okay with that for privacy reasons which is understandable as to a degree, it is a basic right, in most peoples’ eyes. However, these cameras may help develop self-driving cars with the data it collects. Additionally, it may be our answer to solving the distracted driving epidemic.

The data the cameras collected from crashes and everyday driving habits can be analyzed by experts to determine how to make the new technology in vehicles less cognitively demanding or even develop an algorithm to prevent inappropriate use while the vehicle is in motion.

But, how much privacy are consumers really willing to give up? How much of their data are companies entitled to? Right now, there is not much regulation, but it is probably coming soon as new cars will soon all have this technology.

There must be some type of compromise because when this data is used appropriately, breakthroughs can happen. For example, a lot of the tracking built into these cars can prevent crimes. A lot of the data provided can solve the mystery of crashes, including distracted driving crashes and provoke ideas on how to prevent them. The results can save money on auto insurance, medical bills, and most importantly lives which are priceless.

Why Your Business Needs an Online Marketing Strategy

Whether you own a local brick and mortar business or an online company, you’ll want to use the Internet to promote your products and services. The online community is a vast goldmine of potential consumers who log in each day to search for every good and service you could imagine. If you have a product or service, there’s a market for it online. Tapping into that world-wide reservoir of customers is a must if you want your business to not only succeed, but thrive. While word of mouth and certain offline advertising can be great revenue generators for your business, it is important that you implement an online marketing strategy and get it working for you and your business.

Just like any other task involved in the promotion of a business, you’ll need to come up with a solid, effective online marketing strategy, to ensure the best possible outcome – in this case, boosting your customer base, and therefore your business revenue. This doesn’t need to be rocket science, you just need to outline the steps you are going to take to promote your business online.

Promoting Your Business

The most important goal in an online marketing strategy is getting consumers to view your webpage; they can’t buy what they can’t see. This isn’t something that can be left to chance, as there are literally millions of websites online for customers to browse. You’ll need to find a way to direct these consumers to your website, via any number of effective tactics, such as search engines, email marketing, pay per click advertising, social media etc. That way, any time an online consumer is looking for something you provide, you’ll have a that much more of a chance of being their primary choice. Whatever your product or service, you want your business to be known as the market leader. The main factor to ensure in promoting your business is that you’re targeting the right market; if you sell antiques, don’t target a dog training market. While that is an extreme example, the principal still applies.

Where to Promote Your Business

There are many places where you can implement your online marketing strategy; from social media to local business directories, you’ll find that the sky is the limit. All that’s needed is finding the right market and you’re set.

Search Engine Optimisation (SEO)-One of the most common ways to get your site on the first page of major search engine results is through SEO. Find keywords that people are typing in online and target your website around these. Search Engine Optimisation is a very profitable strategy and should be used by most business owners.

Social Media – Social networking sites like Facebook, Twitter and Google+ offer extensive opportunities for online marketing. These sites have millions of members who visit their pages daily; having your business listed on here would guarantee consumer traffic to your website. Just remember though, social media is about engaging and not selling, so make sure that you build up a relationship with your potential market when you start using social media.

Advertisements – Banners are viewed daily across the web; find websites in your particular niche and place your ads within these pages. This is an under utilised tactic that can be very profitable for your business if you engage with the right audience.

Blogging – Blogging on a website like blogger.com is an extremely effective means of marketing your business, especially within niche related blogs. For instance, if you’re a cake baker and you write a daily blog describing a new type of cake you baked, or about a design you created, and show pictures within that site, not only are you going to generate a following of people wanting to learn how to do this themselves, you’ll gain a steady base of customers dying to have their next big day celebrated with a cake from you. Blogging not only establishes your name in the world of cakes, it can also provide you a following as a leader in your market.

Why Your Business Needs an Online Marketing Strategy

The above are just a few examples of where you can promote your website and what you can base your online marketing strategy around.

It doesn’t matter if you’ve been in the same location for 50 years; if you’re looking to generate greater exposure, and thereby greater revenue for your business, there is no better place to do so than online. And if you’re looking to market online, you’ll need to find an effective online marketing strategy to ensure your online success.

Remember, this doesn’t need to be complicated. Find out where your market is, and look to tap into a couple of these avenues. You don’t need to do every aspect of online marketing. Set a strategy where you are going to get the quickest return on investment. Remember to revisit your strategy every 3-6 months and adapt as necessary.