Getting Insurance or Opening a Bank Account: Which Is a Wiser Choice?

/in /by

StrategyDriven Practices for Professionals Article | Getting Insurance or Opening a Bank Account: Which Is a Wiser Choice?Life can be unpredictable. One day we are healthy, then we’re in a hospital bed the next day. Getting sick, losing your job, or coping with the death of a loved one can be some of the most stressful moments of a person’s life. These situations not only take a toll on your physical and emotional health but also your finances.

That is why we need to prepare for anything that can happen in a snap of a finger. To become secured financially, especially for dire emergencies, you can avail yourself of life insurance with investment in the Philippines. It can mean an additional expense, but it won’t be in the long run. It can be one of the best investments you can ever make for yourself or a loved one.

Saving vs. investing money

A lot of people do not realize the difference between saving and investing. On the one hand, both put your money into good use. The former means you are keeping your wealth for future emergencies. Meanwhile, the latter means you are placing your money in a safe place where it is supposed to grow.

From here, we can already see the difference between the two. You can open a bank account and put your money there as part of your savings. It is easy to access in case of financial emergencies. You can save and save and make it grow over the years.

On the other hand, investing means using your cash into something that has excellent return rates. It can be a risk but can also be worth it, especially if its value doubles or triples over the years and have no money problems in the future. Investing means a lot of things: it can be a real estate property, bonds, stocks, or insurance policies.

Is getting insurance worth it?

You might have encountered an insurance agent encouraging you to get a policy. You might want to hear them out and consider the possible benefits it can give you.

Getting insurance means you pay only the premiums without tax. In other words, there is no tax involved when you pay for your insurance premiums. You have to pay it diligently on the specific periods. It’s like savings accounts, only that most insurance policies offer other benefits, especially in emergencies.

As long as you don’t lay your hands on your insurance payments, then you are good to go. You can choose to withdraw your insurance amount after the premium payment periods are already done. On the other hand, you can let it sit until it becomes mature. Your loved ones will also be secured in case something happens to you (such as an accident or a terminal illness).

When you do decide to get insurance, make sure to check whether you can pay for it religiously. Also, you check the other benefits you can get when availing of a particular insurance policy. It can be an additional expense at first, but you will realize its real value as long as you complete the premium payments in a given period.

6 Tips for Setting up Conference Call Using Video

/in /by

StrategyDriven Practices For Professionals Article | 6 Tips for Setting up Conference Call Using VideoIn today’s global business environment one skill you must have is the expertise of setting up a conference call using video. This is usually to have a meeting with colleagues, clients or business partners that are in a different state or country. Video conferencing gives you an affordable way to do so, which saves your company a lot of time and money.

Unfortunately, many conference call meetings end up being a waste of time for all participants due to poor planning, inadequate technology or user error when setting up the call. Some people have come to hate conference calls because of poor meeting coordination, technical glitches and lack of participation from colleagues. It is a common occurrence for example that participants get distracted from the meeting and nothing gets accomplished.

Successful video conferencing meetings are very possible if you take the time to prepare for the meeting. Keep reading for six important tips that will make you an expert at setting up conference call using video.

1. Always Test Your Equipment and Connections

At least a day before the meeting you should test your equipment and network connections to ensure that they are in proper working order. Testing a day in advance will give you enough time to replace any faulty equipment and get failed connections fixed. Testing out your equipment also gives you the confidence to operate the technology during the actual conference meeting.

Some of the things to look out for while testing includes making sure lighting in the conference room is adequate. Also, be sure that everyone sitting in the meeting room will be visible on the conference screens. Cameras and microphones should be well placed around the room such that all participants can be seen and heard.

Also, ensure that you set up your conference equipment and connections around half an hour before the meeting. If the meeting starts at 9 am that is not the time to start connecting the call and switching on your speakers. Doing this beforehand will help the meeting start on time.

2. Have a Meeting Facilitator to Guide the Meeting

The facilitator is usually the organizer of the meeting. Send out an agenda and any documentation prior to the meeting to allow participants to prepare adequately for the meeting.

During the meeting, the facilitator should limit side discussions amongst participants and should check that everyone is fully engaged and contributing to the discussions. Any irrelevant debates should be quickly cut off to ensure that the meeting is concise and ends on time with all items on the agenda covered.

When sending out the meeting invitations provide backup connection options if the main conference line goes down. Alternative connection options for the meeting include phone dial-in codes and conference calling on apps such as Skype, WhatsApp, and Zoom.

3. Make Use Of Visual Presentation Aids Through Screen Sharing

Visual presentation aids used during the conference call will prevent the participants from getting bored by the discussions. The meeting facilitator can share their laptop screen with those in the meeting. This means that the document or presentation on the facilitator’s screen will be seen on the conference room’s screen as well as the laptops of remote participants.

The facilitator can also make changes to any documents as discussions take place. When screen sharing remember to disable any notifications from email or chat applications. Use the best screen sharing software to make the meeting go smoothly.

4. Have Protocol for All Participants

At the beginning of your meeting go over meeting protocol so that the conference call runs smoothly. For example, you may request remote speakers to turn off their microphones except while speaking. This reduces disruptions from background noise.

Additionally, all participants should turn on their cameras and ensure they are visible by everyone else in the conference. To prevent people from speaking over each other, the facilitator should ask participants to give visual cues before speaking and he or she may select the people allowed to speak.

5. Record the Call

It is important to record the call for record-keeping purposes. Recorded calls will be useful for participants that were absent from the meeting but need to know what was discussed.

If participants know the call is being recorded it allows them to be fully engaged in the meeting without having to worry about taking proper notes or minutes.

6. Be Aware Of Yourself and Your Surroundings If Calling in From a Remote Location

Participants dialing into a video conference meeting from remote locations have their own set of tips to follow. First of all, you should confirm that your video conferencing equipment works properly and test it before the conference call.

If you have a modern laptop it should come with a camera and inbuilt speakers and microphones. In this case, all you will need for the conference call is your laptop and perhaps a pair of earphones for better sound quality.

When taking part in a conference call from a remote location ensure you choose a place with little background noise. Be aware of your environment and what other people at the conference will see. For example, taking part in a call from a disorganized office will reflect badly on you.

Keep in mind that all your actions can be seen by other participants so behave appropriately and dress appropriately. Avoid having bright lights behind you as these will make it hard to see you.

Have Successful Results When Setting Up Conference Call Using Video

In order to have a productive conference call, it is necessary for you to prepare for the meeting. Send out the agenda well in advance when setting up conference call.

Allow participants to get ready for the meeting and be sure to test out your conference call technology before the meeting. Remember that you should always be professional and practice good communication skills.

For more tips and advice, check out more articles right here on our blog.

Ways to Manage Your Debt despite Its Size

/in /by

Debt is a financial obligation of the debtor to pay the lender their principal amount back. Depending upon the size of the amount, repayment can take months as well as years, and throughout this time, one needs to manage their money to meet their ends and debts properly. If not, it may result in adding more debts, and the cycle of debt will continue to gain momentum. It’s important to have an accurate plan to repay the debt. Small debts are easy to manage, but large debts require huge amounts to be paid, and it can create an impact on the overall financial stability of the borrower. Getting out of debt demands determination and an overall change in habits and lifestyles that either got you into debt or are simply extravagant – using multiple credit cards, for instance. Cutting off expenses and increasing income is one way to see it. The more the income, the sooner the debt is cleared. Even though the debt may be higher, yet with regular installments and consistency, it can be achieved and made to disappear.

StrategyDriven Practices for Professionals Article | Ways to Manage Your Debt despite Its Size

Confront

The first step is to identify the problem. Make a list of all the debts you have and calculate the amount. Measure the amount of debt and make a list of whatever small debts you might have. This will set the mark for your goals and help you to see your financial picture.

Snow-ball method

Debts are of various kinds, but it’s the most significant debts that break our financial cane. Once you know the debts you have to pay, start by paying the monthly required installment for each one of your debt except the smallest one. Pay as much as you can for that. The idea is to clear the small debts first and then eventually move on to the next smallest in the line. Reach out for some iva help to battle the debt fiasco if you are incapable of dealing with the situation on your own.

No overdue

Pay bills on time and don’t be late. Overdue can cause unnecessary reduction of your income which can come in useful for your debts.

Budget system

Create a budget and thoroughly research how much needs to be spent and how much income is there. This way you won’t have to bother about your bills and your life can go on in an organized manner. Be consistent in it and don’t deviate.

StrategyDriven Practices for Professionals Article | Ways to Manage Your Debt despite Its Size

Side Job

Getting a second job can always be beneficial. Start by searching for a second job that fits your time profile with a decent salary. Various jobs available on the market will take the load off your back and give you a sense of financial sensibility.

Refrain

The activities that had you in debt must not be repeated. It will keep on adding the debt, making it much harder to reduce it. Cut your habits loose.

Emergency fund

Anything can occur at any second. You need to be prepared for it. Create an emergency fund that you will need in case there is an emergency like to pay medical bills or house repair. You don’t want to run from pillar to post when that thing happens. It’s always wise to have a damage control plan.

Reduce your expenses

You don’t have to live your life on a minimum, but you can choose to live it with more discipline. There’s always an alternative for anything you buy if it’s expensive. You have the option to reduce your interest on credit cards but prefer not using them at all. If you’re buying something, use cash. Slash your restaurant bills and cook at home, cancel the Netflix and enjoy the internet. You can exercise at home. The money you save by trimming your expenses can be used in a more productive way and at the same time will ease your nerves.

Revisit

Think of ways to accelerate your income. It can be cashing on investments or selling the stuff you don’t need, garage sales or teaching a skill that you have. The options are numerous. Be persistent in your schedule and reframe accordingly.

Conclusion

Debts are destined to be cleared, but with higher debts, the process takes a little longer than usual. To have a clear image of one’s income and expenses as well as identifying ways to trim the expenses and increasing the income can surely act as a savior in terms of debt repayments.

What Is Bad Credit and How Can It Affect You?

/in /by

StrategyDriven Practices for Professionals | What Is Bad Credit and How Can It Affect You?

Dealing with money issues is something most American adults are quite familiar with. While most people are adamant about living on a budget and spending within their means, there are financial situations that can derail these good financial habits. Having a bad credit score is something nearly 68 million Americans have to deal with.

Your credit score is a way for lenders to see how much risk is associated with lending you money or approving you for a line of credit. The lower your credit score is, the harder it will be to get the financial tools needed to prosper. Read below to find out more about how bad credit can affect your life.

Getting Car or Home Loans Can Be Difficult With Bad Credit

For most adults, buying a home or car is something they view as a priority. Getting approved for the loans needed to make these purchases can be difficult if you have less than stellar credit. While you may be able to get approved for a loan to purchase a home or car with bad credit, these loans will have a higher interest rate. This means you will be paying back a lot more to the lender due to your high credit risk.

Taking the time to look at your credit report before applying for a loan is a great idea. By doing this, you can see if there are inaccuracies that need to be addressed. If you see errors on your credit report, using a tool such as DisputeBee is vital. With the help of this program, you can automate the credit report dispute process. Having errors removed from your credit report allows you to improve your score. The better your credit score is, the easier it will be to get a great loan to use for the purchase of a home or vehicle.

People With Bad Credit May Pay Higher Car Insurance Premiums

Some people think that bad credit only affects their ability to get approved for loans or credit cards, but this is far from the truth. When you go out in search of insurance for your home or car, companies that provide these policies will consider a number of factors before providing you with a quote. Often times, an insurance company will check your credit score.

If your credit score is on the low-end of the spectrum, you may have to pay a higher premium as a result. Instead of having to pay more for credit and insurance, you need to find a way to fix the problems on your credit report. Doing things like paying down your credit card/loan balances and remove inaccuracies can help to improve your credit score in a relatively short amount of time. Seeking out the help of a credit repair professional can help you develop a plan of attack. These professionals will be able to give you sound advice on what needs to be done to get your credit score back on track.

Problems Renting a Home or Apartment

Another problem that you may face if you have a low credit score is renting a nice home or apartment. Most landlords will put a potential tenant through the paces before approving their application. This process generally involves checking your credit score. If your credit score is low, it may give a landlord the impression that you will not pay your rent on time. This is why fixing the issues on your credit report is so important.

Now is the Time to Take Action

As you can see, having a low credit score can affect various parts of your life. Instead of waiting to take action, you need to find and fix the issues on your credit report immediately. The time and effort invested in improving your credit score will be worth it in the long run.

When Small Things Get Big and Big Things Get Small

/in /by

StrategyDriven Practices for Professionals Article | When Small Things Get Big and Big Things Get SmallThere are things in our lives that seem big, but they are really temporary or minor problems. The small things get big when we focus too much attention on them. When we make small things big, we can overlook the big things that become the elephant in the room that we are not seeing. If we take care of the small things as they come up, we are better able to cope with the big stuff.

Traffic moving slowly, someone not lending a hand when we think they should, children too distracted to listen; these are the small temporary problems. We can chew these things in our minds over and over until they are always/never pronouncements in our minds. The small things mull around in our minds until they seem overwhelming. Take the magnifying glass off of the problem, see it as smaller and farther away, and see the change in your perspective as the starting place for solving the problem. The words we use to describe the problem in our minds often magnify the problem. Look at the examples and see if you can change the sentence to something you would have control over.

“He never takes out the trash.”

“She always complains.”

“The kids never pick up their toys.”

“He never helps in the kitchen.”

“She’s always busy.”

“He never wants to do his homework.”

Problem statements can easily get cemented in our minds. They roll around over and over. They are a constant problem. When our minds are full of these small things, we don’t have room for the big things that are really important, so we make the big things small and ignore them. The big things are a) building sustainable relationships and b) creating healthy habits. Make a list of things you can do to begin focusing on the big things that have a long-lasting impact on your life and the lives of the important people around you.

  • Spend family time together.
  • Exercise or take a walk.
  • Take time to relax and have fun.
  • Listen attentively and notice when problems arise.
  • Have fun cooking a healthy meal with a friend.

I enjoy spending family time with my daughter, who is my good friend, while we are sharing recipes and cooking a favorite meal together. She lives 2700 miles from me, but our homes come together through Facetime. We enjoy our cooking time together so much that we both got an Alexa Show for Christmas. These are precious moments – the big stuff – where we each share our family moments. There are times when I realize I just spent two hours on the phone with my daughter, but we are building important relationships and as a bonus creating delicious nutritious meals.

We can flip the switch on our perceptions, pay attention to the things we have control over, and understand that others will see things differently. Pay attention to statements that include, “always” or “never.” Most things are not that absolute. More often we are speaking from our own perceptions magnifying the situation with absolutes. We can’t control other people, but we do have control over our perceptions and reactions.

Get help if the big or small things feel overwhelming. Don’t wait until a crisis takes over your life. Reach out to a professional counselor or Certified Life Coach if you need help to flip the switch on your perspective, so you can see the small things for what they are, and manage the big things in your life.

As a Creative Entrepreneur, you want to focus on the big stuff, being healthy and creating sustainable relationships. You need relationships to build your customer base, and you need to be vibrant and healthy so you will have the energy to provide your product or service.

About the Author

Nancy J. Miller, M.S., Career Counselor/Certified Life Coach bringing joyful perspectives and life changing attitudes to the lives I touch.

Contact Nancy to learn more about her Coaching Package, Find Success as a Creative Entrepreneur.