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6 money saving benefits of using the money transfer apps while travelling

Travel is one of the most fulfilling experiences a person can have. Thanks to modern conveniences such as low-cost transcontinental flights, house-sharing and ridesharing apps, and online travel sites, getting out and experiencing the world is easier today than it has ever been before. That technology also extends to managing our finances when we’re abroad, from moving money at the drop of a hat to sharing costs with friends. Here are a few ways that a money transfer app can help you get the most bang for your travel buck.

1. Before you Leave

Concerned about keeping your bank account details safe while you’re abroad? You can open a credit or debit account specifically dedicated to your trip and then use your transfer app to add funds to it as needed, without having to pull out the card for your primary account if your spending money is starting to get low.

2. At the Airport

You can often save money by traveling in a group of friends or family and booking things like flights together. Money transfer apps make it quick and easy for everyone in the group to pool their money for plane tickets, hotel rooms, and even tours and group activities at your destination.

3. Exchanging currency

One place where travelers tend to lose the most money is at the currency exchange. These places charge a fee to change your cash into local currency; for example, American dollars for British pounds. But in addition to a hefty fee, these places tend to inflate exchange rates in their favor. Fortunately, the credit card is now basically internationally ubiquitous, so travelers don’t need cash as much as they once did. By dedicating a specific account to your travel fees and using an app to transfer money to those accounts, you can limit your cash to a small emergency fund (say, enough for a cab ride and one night in a hostel) and avoid those extra costs.

4. Avoid ATM fees

Many banks charge a foreign transaction fee for any ATM outside of their network, and an additional fee for international ATMs. On top of that, there is often a fee from the bank servicing that ATM. These can stack up quickly, so it’s best to avoid them altogether by using a credit card and an app.

5. Accommodating changes

Spontaneous adventures are one of the best parts of a great travel experience, and a quick and easy way to transfer money can help you fund those crazy last-minute decisions so that you can enjoy the moment without worrying about money.

6. Emergencies

In the event of an unexpected illness, airport closure, or other sudden problem with your trip that results in an unexpected expense, money transfer apps make it so your family members back home can send you emergency money with the touch of a button, avoiding yet more foreign transaction fees and money order fees.
There’s no question that travel is awesome, and modern conveniences make it more accessible than ever before. With these tips, you can guarantee yourself a fun-filled, economical trip, and leave the financial stress at home.

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Expanding Live Casino Formats is Key to Online Gaming’s Future

When we think of examples of digital disruption, online casinos are an interesting case study. One would think that they are a perfect example of the type of digital solution that would disrupt an entire industry. While online casinos and digital sports betting platforms have been successful – hugely successful – it’s not as if they have stopped people going to casinos; Vegas is still booming and people love a day out at the racetrack. Put simply, physical gaming properties do not look like going the same way as Blockbuster Video or many high street bookstore chains.

Yet, the arrival of live casino in the middle of this decade was expected to be a turning point. The idea that you could stream real live dealers to your PC or smartphone was – is – revolutionary. The amount of work that has gone into building huge studios to deliver these games is extraordinary, with the likes of Playtech, NetEnt Live, Evolution Gaming and Yggdrasil investing millions in places like Latvia, Estonia and Romania.

Live dealer has replicated casinos’ offerings

Live dealer has been a success, of course. If you check out some of the top places to play live casino games in the UK, you will find incredible gaming options. For example, live roulette will use several HD camera streams, providing different angles and close-ups, replicating all the sights and sounds of a real casino. The same goes for the likes of blackjack, baccarat and poker. While the cameras are important, console technology, i.e. the ability to place those bets in real time, is one of the key elements to bring that immersive experience into existence.

Online casinos and real casinos aren’t really in direct competition with each other. Indeed, often there is some overlap with ownership, especially in the quickly expanding US market, which has been buoyed by the recent Supreme Court ruling on legal sports betting. However, there is arguably a way that online casinos can really start to chip away at the market share of real casinos – by offering something truly different.

You see, online casinos have spent most of the 21st century believing that the key to success is realism, i.e. trying to replicate what you would find at a real casino. That has, of course, been successful. Yet, one might argue that the future might be about creating a sense of ‘unreality’. That means moving a way from offering what a casino can offer and giving players what a casino can’t offer.

Casino gaming world will expand with VR

We are already starting to see some evidence of this with Monopoly Live from Evolution Gaming, which is part wheel of fortune casino games and part interactive board game. The success of this game will push the likes of Playtech and NetEnt to look at even more creative ideas to bring to their live dealer platforms. The possibilities are limitless, with casino developers able to use VR to create fantasy worlds and skill games. Indeed, expect some tie-ins with the world of eSports and the idea of skins betting.

In the end, online casinos would still remain successful, even if they stood still in terms of new technologies. They don’t need to replace real casinos, but it might simply be the case that they will one day. That’s probably a long way off, but you can make a certain bet – something rare in any casino – that the tipping point will come when online casinos offer something completely different to their land-based counterparts.

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The 3 most common shopping traps – and how to avoid them

Whether online or in store, shopping traps can fool almost anyone. They’re designed to trick shoppers into spending more money than they need or want to. Luckily, they can be avoided — you just need to know how to spot them.

To help, we examine the three main tricks of the trade.

Online offers

Online shopping appeals to many of us for choice, ease and convenience. No wonder internet sales account for almost 20 per cent of all retail purchases. But web retailers have their tricks to make sure you spend more than you may have intended to.

A lot of retailers offer free delivery, provided you spend over a certain amount. It’s often tempting to add a few more things to your basket to make sure you hit this limit, but is it as cost-effective as you think? Have a look at the original shipping cost. Is it lower than the extra you’re going to spend to avoid it?

If so, you may want to stick to your initial spending plan.

Supermarket layouts

Supermarket shopping is fraught with temptation. From the moment you enter the store, you have to run a gauntlet of traps that retailers use to relieve you of as much of your money as they can.

Layout is one of the key areas that retailers focus on. For example, pricier items are usually placed at eye level, so you are more likely to choose them, rather than the less expensive items further down or higher up.

Likewise, common essentials — like dairy and meat — are typically located at the back of the shop, so visitors have to travel through the rest of the supermarket to reach them. And probably pick more things up along the way. Especially if they’re hungry or thirsty.

The solution? Make a list and don’t stray from it. Making a list helps you stick to your budget and should be one of your key strategies in keeping an eye on your finances. And don’t shop on an empty stomach!

Till treats 

Many of us have been tempted by the checkout till treats when we’re queuing up to pay or have been harangued by our children to buy them.

Sweets, chocolate and drinks can be just what we need at the end of a supermarket shop, but they aren’t essential items. These last-minute purchases could put you at least £2 over your budget each week. That adds up to a fair amount over a year.

If you’re a supermarket snacker, take some nuts or other nibbles with you to eat whilst you shop, so when you reach the checkout, you won’t be tempted. And if you have the kids with you, you can placate them with a brought-from-home treat pulled from the bag just before you reach the checkout.

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Online Savings Accounts — The Right Choice for Your Emergency Fund

A 2018 study conducted by the Federal Reserve Board concluded that 40% of Americans are unable to cover an emergency expense of $400 without having to sell something or borrow money.

This perspective is extremely troubling as it means four in every ten people in the US will experience a financial crisis should they get laid off, have car trouble, or need to undergo medical treatment.

$400 may not sound like much, but that is until you need them and can’t get them.

So, how do you avoid getting in such an unfortunate situation?

The Solution to Unpredicted Expenses — Emergency Funds

What are emergency funds?

In a nutshell, that is money you have set aside to only use in times of dire need due to unexpected circumstances.

When are emergency funds necessary?

  • Sudden unemployment
  • Car breakdown
  • Health problems
  • House repair
  • Major appliance breakdown
  • Paying for damage inflicted on someone else’s property
  • Unexpected travel
  • Loss of a relative

The list goes on.

It is true you can’t predict when trouble will come your way, but surely you can be prepared when it does. Setting up an emergency fund in an online savings account is your safest bet. Why? Because with spiking interest rates on credit cards reaching an all-time high of 17.73%, getting into further debt is not something you want to do. But putting money aside is.

Your financial security depends on you having the best online savings account possible. Why not a regular one, a time deposit, or an investment account, you might ask? Because the money you invest in online savings accounts is more liquid, and you can easily acquire the funds at short notice.

What to Look for in a Savings Account

When you want to find the best online savings account for your emergency fund, you need to look for conditions, such as:

  • High Annual Percentage Yield (APY)

It shows how much your money could earn in a year. Unlike simple interest rates where you earn the same amount of interest each month, APY includes compound interest. Therefore, the higher the APY, the faster your money grows. Why? With compounding, the interest is earned on the money you put into the account, as well as on the interest you receive over time. This is why differences of as little as 0.09% in APY can have a big impact on how quickly your account grows.

  • No (or bearable) minimum deposit requirement

Some banks impose restrictions on the deposits they accept, so beware of those and whether the thresholds are bearable given your financial capabilities.

  • Easy to set up online

You can open the account from the comfort of your own home without having to set foot outside, waiting in line, and wasting precious time. And should you need further assistance, you always have a customer service representative at your disposal.

  • Lower fees

Online banks don’t have the overhead cost that brick-and-mortar ones have, so you get to enjoy higher rates and lower operational fees.

  • Good reviews

Look for reviews with substance that explain the actual benefits of having an online savings account with the bank you are interested in. Good reviews are ones that give an insight into investor experience of the services provided.

How Much Should You Put Away?

By now, you know why you need an online savings account and how to recognize a good one. The natural question of how much should you put away in your emergency fund arises. Best practices dictate you need to put away anywhere between one and six months of total living expenses with one month being the bare minimum. As this is not the same for each person, you need to carefully calculate your expenses.

You can take a different approach and decide on a set sum you want to set aside, but that is more difficult to plan and overall not recommended.

For reference, according to a 2017 Statista report, 31% of men and 20% of women in the US have more than $10,000 in their saving accounts. That, however, does not mean you should start with such sums if they are outside your capabilities. No minimum deposit restriction on your online saving account means you can start with smaller amounts.

Get Saving!

It may seem daunting if you are now starting to think about setting up an emergency fund but the sooner you begin, the sooner you will start gaining financial stability.

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5 Reasons It’s Important to Screen New Employees

Your employees are the heart and soul of your company, and you’re going to need them if you want to grow a successful business. When you have good employees, you’ll be able to boost your profits and dazzle your customers or clients. Conversely, bad employees will hamper the workflow and efficiency of your workflow, and they could even drive away sales.

It’s important that you always screen new employees during the hiring process. Employment screening can help you weed out bad employees before they every join your company. Here are 5 key benefits to pre-employment screening.

1.      To Protect Your Employees

Arguably the most important thing about an employment screening is that you can find out whether or not a prospective employee has a criminal record. There might be some legal histories that aren’t concerning or relevant, like traffic violations (unless you’re running a transportation service). If there’s a smaller offence that concerns you, you could ask the prospective employee about it. Their response could give you more context about that event and the job candidate’s behavior.

If a prospective employee has a history of violent crimes, you should move on to a different candidate. You don’t want a violent offender in the workplace—your employees may find out and feel uncomfortable, or, in the worst-case scenario, that person commits violence against your employees. That would be harmful to your business and could cause others to question your judgment.

2.      To Protect Your Customers

Employment screening will also help protect your customers or clients. This is especially relevant for any kind of customer service or hospitality-based workplace, like independent retail stores or restaurants. If your employees have a lengthy criminal history, there’s always the chance that they’ll repeat their prior behavior while they’re on the job.

Every employer fears having an employee who lashes out or acts inappropriately towards customers, or who behaves unprofessionally while customers are around. That kind of behavior may cause you to give a refund to the customer, and you might permanently lose their business.

3.      To Protect Your Business Finances

When you run an employment screening on a job candidate, you can also run a credit check for new hires. A credit check will give you the candidate’s credit score.

A credit check is unnecessary for most of your employees, but you might want to run a credit check on candidates who are vying for a major financial position within your company that involves saving or investing, like accounting or business development. It’s important for those candidates to be fiscally responsible; if they don’t have a handle on their own finances, how can you trust them to be with your company’s finances?

A credit check might also be important if you’re hiring for any business that’s involved in financial planning. If you’re trying to hire true financial experts, you’ll only want to hire candidates who have good credit scores.

4.      To Defend Against Competition

In local markets where competition is fierce, it’s not unheard of for a competing business to have one of its employees apply for a job at a competitor. These “spies” can infiltrate your workplace and steal valuable information from you. Sometimes, these employees will go by a fake name, and other times they’ll just pretend they’re not currently employed.

Employment screenings can root out these competitors. First, a background check can reveal whether or not someone is using a fake identity. Second, a background check may reveal any companies that a job candidate has reported working at. Employment screenings are an easy way to weed out dirty schemes by competitors.

5.      To Make Sure They’re Qualified

As previously mentioned, you can use an employment screening to make sure that a candidate has actually worked where they say they’ve worked. Your business could suffer huge productivity and money leaks if you hire an underqualified person who has lied about their prior work experience. Employment screenings will help you verify the validity of the work experience your job candidate has listed on their resume.

Cross check the results of the employment screening with a networking site like LinkedIn. Although the background check may reveal that your candidate does truly have the work experience they claim, they should also be connected with very colleagues that would be willing to vouch for their abilities.

As you can see, a pre-employment screening can protect your employees and your company’s profits. Be sure to make it a standard part of your hiring process.

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