Home Furniture Selection Tips

The variety of home furniture in the market is so huge that customers are easily confused over what to go for. Furniture size, colour, type and more need to be put into consideration and the room that the furniture would eventually reside in coupled with the residents of the house need to be kept in mind before making your selection.

The first question you would need to ask yourself is whether you have little kids at home. If you do, then it would influence the make of furniture you might go for. Furniture like fabric sofas, and glass coffee tables should be the last option as kids may spill stuff on the sofa that makes it difficult to clean up. Glass furniture are easy to break and may be injurious to kids.

Next, you need to take the size of your home into consideration. If space within your home is a constrain, you would be better of with lighter coloured furniture and furnishings and small to medium sized furniture. However, if space is not an issue and you have spacious rooms, consider darker furniture of good sizes to accommodate residents so that your home does not look too vacant.

Leather sofas and other furniture made from leather are easy to clean but mostly do not come cheap. Alternatives often are PVC furniture or Faux Leather furniture. Solid wood furniture also make a good addition and might come painted in various colours adding to the look and charm of your room.

Armed with the above basics, you can now go for your next furniture shopping and be spoilt for choice. At least, now you know what to avoid and what to buy.

Adventure Travel Planning – How to Budget for Your Dream Experience

For many of us, adventure is what keeps us vibrant. Our experiences are what define us. Testing the limits of what we know as possible or experiencing something truly magnificent reminds us that life is precious. But far too often, that most fantastic of adventures — you know, the once-in-a-lifetime adventure you’d always dreamed of — is just out of reach. Why do you think that is? Why do most of us never go on the one adventure that would change our lives forever? You guessed it — money.

But is money actually the problem? Isn’t the way we spend money the real problem? If you have money to spend on coffee, cable TV, eating at restaurants, a nice car, or on more living area than you really need, then you have enough money to spend on a life-altering adventure experience. It’s your choice. Would you rather take in the view at the top of Mount Aconcagua or drink a soy latte every day? Would you rather raft down the Drangme Chhu River in Bhutan or have an extra room in your house that you never go into? Could you live with trading in your Lexus for a Ford if it meant that you could take that trip to Antarctica you’ve always dreamed about?

So, you see, a lack of money doesn’t stop us from experiencing our dream experiences. It is our messed-up priorities that actually stop us. So if adventure is a priority in your life, it would be worthwhile to do some adventure travel planning:

  • You can start by using a travel expense sheet to estimate travel costs specific to your dream adventure travel experience.
  • You should never go into debt for an adventure travel experience! The purpose of adventure is to enhance your life with positive experiences, not drag you down deeper into a pit of despair. Again — never go into debt for your travels!
  • Once you know how much your dream adventure will cost you, decide when you would like to go by. Knowing when you are going to go will give you an idea of how much you will need to save each month to pay for your expenses.
  • When you know how much you will need to save every month, you will know how much you will need to cut from your monthly expenses. It’s easy when you set your priorities. For instance, let’s say you need to save $200 per month to go to Nepal in two years and you would much rather go to Nepal than waste your time watching television. Well, then reduce or eliminate your cable TV expense to help pay for your Nepal trip. Go through each of your recurring expenses and do the same. Use a budget worksheet to help you think of everything.

Banks Have a Lot of Reasons to Reject Your Small Business Loan

For a small business to grow into a big business, it needs a loan unless it has exceptional sales and profit margins. A small business owner has quite a few places where he/she can go with a loan request. Banks seem to be one of their options on most occasions. What these owners might not realize is that banks have recently developed a reputation for rejecting small business loans. It seems that banks are more interested in financing large businesses due to their benefits. A bank can come up with a variety of reasons to reject loan approval for a small business. Some of the common reasons are as under:

Reasons for Banks to Reject Your Small Business Loan

Credit History

One of the barriers between you and the business loan is credit history. When you go to a bank, they look at your personal as well as business credit reports. Some people are under the impression that their personal credit does not affect their business loans. But that’s not always the case. A majority of banks look into both the types of credits. One of the aspects of credit that matter a lot to the banks is credit history. The length of your credit history can affect your loan approval negatively or positively.

The more information banks have at hand to assess your business’ creditworthiness, the easier it is for them to forward you the loan. However, if your business is new and your credit history is short, banks will be unwilling to forward you the desired loan.

Risky Business

You must be aware of the term high-risk business. In fact, lending institutions have created an entire industry for high-risk businesses to help them with loans, credit card payments, etc. A bank can look at a lot of factors to evaluate your business as a high-risk business. Perhaps you belong to an industry that is high-risk per se. Examples of such businesses are companies selling marijuana-based products, online gambling platforms, and casinos, dating services, blockchain-based services, etc. It is imperative to understand that your business’ activities can also make it a high-risk business.

For example, your business might not be a high-risk business per se, but perhaps you have received too many charge-backs on your shipped orders from your customers. In that case, the bank will see you as a risky investment and might eventually reject your loan application.

Cash Flow

As stated earlier, your credit history matters a lot when a bank is to approve your loan request. While having a short credit history increases your chances of rejection, a long credit history isn’t always a savior too. Any financial incidents on your credit history that do not favor your business can force the bank to reject your application. One of the most important considerations is the cash flow of your business. When you have cash flow issues, you are at risk of receiving a “no” from the bank for your loan.

Your cash flow is a measure for the bank to know how easily you return the loan. If you are tight on cash flow, how will you manage the repayments? However, cash flow is one of the controllable factors for you. Find ways to increase your revenues and lower your expenses. Once you have the right balance, you can approach the bank for a loan.

The Debt

A mistake that small business owners often make is trying out too many places for loans. They will avoid going to the bank first but get loans from several other sources in the meantime. Once you have obtained your business funding from other sources, it makes sense to return it in time. Approaching the bank when you already have a lot of debt to pay is not advisable at all. Do keep in mind that the debt you or your business owes affects your credit score as well. In short, the bank does not even have to investigate to know your debt. An overview of your credit report can tell the story.

The Preparation

Sometimes, your business is doing fine, and your credit score is in good shape as well. However, what’s missing is a solid business plan and proper preparation for loan approval. If you haven’t already figured out, banks require you to present a lot of documents with your loan approval request. Here are only some of the documents you will have to present to the bank to get approval for your loan.

  • Income tax returns
  • Existing loan documents
  • Personal financial documents
  • Affiliations and ownership
  • Business lease documents
  • Financial statements of the business

You have to be exceptionally careful when these documents and presenting them to the bank. Any discrepancies can result in loan rejection.

Concentration of Customers

This one might come as a surprise to some, but a lot of banks consider this aspect of your business seriously. You must not forget that loans are banks’ investments. Businesses that approach the banks are their vehicles to multiply their money in the form of interest. If the bank senses that your business does not have the potential to expand, it can reject your loan request. Think of a mom and pop shop in a small town with a small population. If it only serves the people of that town and has no potential to grow further, a rejection is imminent.

In this particular case, even if the business has considerable profit margins, it relies on its regular customers for that. The bank might see it as a returnable loan but not as an investment opportunity.

Conclusion

The good news is that you have a lot of funding options as a small business owner. Today, banks are only one of the many options for you to fund your bank. You don’t necessarily have to apply for loans when you have crowdfunding platforms actively helping small business with their funding needs. If you are seeking a business loan from a bank, that’s fine. However, if the bank does not approve your request, it should not worry you much.

Online Education – Education In Vogue

Time management is the key to success in today’s fast paced world. How one manages his or her time determines the success quotient and this is the reason why online education id gaining immense popularity. Since online education offers unmatched flexibility and the students and learners can manage time in line with their other priorities, it is becoming a very popular mode of education in almost all parts of the world. The growing popularity of online education has resulted in the establishment of several online educational institutions offering online degree courses and other learning opportunities.

Some people harbored the misconception that the advantages of online education are restricted only for those students and learners who had an established record of past accomplishments. This also led to the belief that online education helps only those who have access to modern means of communication as computer and Internet. However, as the awareness about various modes of online education is increasing the misconceptions related to online education are giving way to more acceptability to online education and training.

Changing perception

It is a talk of the past when people considered online mode of education as a quick way of obtaining a degree or getting good grades. In the past, the reputed educational institutions were not offering online education. However, with the increasing popularity of online education, the majority of institutions offering online courses are well-established institutes and they have a rich experience to provide such education. It is worth mentioning, that a large number of world’s leading educational institutions are offering online education courses on a wide range of subjects.

Growth drivers

Today, most of the accredited online education courses have talented teachers and professors of repute in their respective specialization. This ensures qualitative learning. The students signing up with online education courses, can be assured of guaranteed results. Moreover, online education is more interesting and more competitive when compared to the traditional teaching methodologies.

Employers’ viewpoint

Undoubtedly, many employers were and some of them are still having doubts about the value of online education. However, with change in perception and emerging popularity, a large number of employers have realized their worth. Now the employers consider the online degrees from accredited and well-established online educational institutes of repute. Moreover, the increasing number of people who enroll for online education has changed the employers’ perception and now they readily consider the benefits of online education.

Some research reports point out that technology oriented industries such as, communication, computers, media and marketing have started to accept the candidates having online degree courses from accredited and reputed institutions.