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7 Ways To Consolidate Debt And Improve Credit Score

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StrategyDriven Practices for Professionals Article |Consolidate Debt|7 Ways To Consolidate Debt And Improve Credit ScorePaying off loans is a tedious process and can be challenging to keep track of. It can help to move all the payments you need to make to one convenient place. That is where debt consolidation comes in. It is about merging credit and loan balances into one large loan. Not only does it help you lower the interest you owe but helps you save money on making regular payments. Once you make enough payments on time, you can even improve your credit score.

A credit score is an essential indicator that informs all loaning and crediting bodies how you handle money. A high credit score means you’re good at making repayments and don’t overspend. So, ensuring you keep a high credit score is pivotal.

Here are some ways you can consolidate debt, improve your credit score and supercharge your finances:

1. Get a Debt Consolidation Loan

A debt consolidation loan is a personal loan that you take to pay off your consolidating debt. You get these loans as secured or unsecured personal loans. While secure loans are easier to get, you often need to put in your car, savings, or even your house as collateral. This may not be a good idea if you’re already in financial straits.

On the other hand, unsecured loans rest on your credit score. While qualifying for one is more challenging, you save yourself from setting up collateral. Fortunately for you, there are services for securing the best unsecured debt consolidation loans online that allow you to choose your loan options flexibly. Once you create an account, you can pick the amount and payment option suitable for you and get funds right away. These services give you the margin to pay back with no early repayment penalties and options to pay according to your income bracket.

2. Use a Debt Management Program

Debt management programs help you create a monthly payment program that reduces interest rates on credit cards and allows you to pay off debt quickly. After analyzing your financial status, most credit counseling agencies can help you make a proper debt management plan.

Since interest plays a role in debt, one of the advantages of opting for a debt management program is a massive reduction in your interest rate, keeping it below 8%. Since these programs are not loans, you can withdraw from them at any time. You get counseling, educational resources, and a proper plan for a minimal fee. Once the payment rolls in, your credit score starts to improve.

3. Go For Credit Card Balance Transfers

If you have a good credit score but you’re struggling to pay the debt, you can use your score to your advantage. A form of consolidation is transferring multiple credit card balances to one card with no interest rate. Your credit card company will provide you with the option to transfer the balance with a payment period of no interest. You get substantial time to pay off the principal amount without worrying about accumulating more. The only catch is you need to make all the payments on time.

4. Consider Peer To Peer Loans

Peer-to-peer loans are personal loans that allow you to get loans with no middlemen such as banks involved. You directly get funds from the borrower, whom you can easily find online and send in an application. The borrower will assign a risk level to your application and allow investors to see your financial profile.

Generally, it’s easier to get investors when you have a medium to low-risk profile. Once the borrower arranges funds for you, they get sent your way online. The added competition between borrowers allows you to choose with whom you want to work at a lower interest rate.

5. Be Strategic About Paying Credit Card Bills

It’s a good idea to utilize your credit cards properly to improve your credit score. Credit cards come with a limit, and no matter how high you’ve set yours, use only 25% of it. Going even lower will only boost your credit score faster if you can go even lower.

When you use your card, you accumulate a small bill with minimal interest that you can pay off right away. This means that when credit bureaus evaluate your financial habits based on your credit balance, you get a high score. The goal is to always keep your balance low and reap the benefits of a high credit score.

5. Review All Credit Report Errors

Credit report errors can decrease your score, which is why you need to review the report once you get it. Most credit bureaus provide you with a free transcript that you can study, picking on where you are marked wrong. If you’ve made a payment on time but don’t see it reflected in your records, dispute the error.

Other errors include using outdated information on your history that is not usable or mixing someone’s credit activity with yours. Don’t let these errors slide since they can negatively impact your credit score. Instead, take the time to file a report and add it to your credit score. The earlier you file, the better your chances of getting reviewed and approved, leading to a fixed overall balance.

6. Look Into Authorized Usership

You have the option of becoming an authorized user for credit cards that your friends and family have. This can give you access to positive payment history and a high credit score. You don’t even have to use their card or their bank account number – you simply share their payment history.

If you’re looking for a way to fix your credit score and have a thin credit file that needs minimal fixing, you may have found your saving grace. But if you’re under staggering loans, you shouldn’t entertain this idea and seek more concrete solutions.

Final Thoughts

Paying back your loans can be a debilitating process. Debts can get messy with time. The high-interest rates and lack of time put you in a difficult position. Still, investigate consolidating debt and finding ways to improve your credit score to put yourself in the best possible situation.

Therefore, options like consolidation loans, management programs, balance transfer, and personal loans can help you bridge the gap between payments. Improving your credit score can get tricky, but all it takes is an effort on your part to keep a low balance and a consistent payment history. Make sure you take small but concrete steps towards financial freedom, and you’ll be there before you know it.

How to Win in Business By Playing Your Best Golf

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StrategyDriven Marketing and Sales Article |Playing Golf|How to Win in Business By Playing Your Best GolfGolf has always been synonymous with business networking, mastering team-building skills and for developing working relationships. In the words of the late Arnold Palmer, one of the world’s greatest golfers, “success in golf depends less on strength of body than upon strength of mind and character”.

As well as getting to know potential clients and employees, some of golf’s most valuable lessons apply equally well in a business setting for leaders and employees alike. In a relaxed setting, golf has evolved as an opportune sport to evaluate vital qualities prized by business investors, colleague and potential clients, such as:

  • personal drive
  • management skills
  • leadership abilities
  • problem-solving capabilities, and
  • effective communication.

Golf also appeals to businesses as it lends itself well as a team-building tool, showcasing a player’s determination and commitment to a task in hand. When playing golf, you must also take into consideration investing in a quality golf club bag for better storage of your golf equipment.

But, if you’re not a pro and have been invited to or are hosting a golf event, here are some top tips on how to raise your game.

Forget about theories

There are countless tricks and theories online that promise to help you gain the edge in a golf match, from giving your opponents their putts early in the round so they haven’t been able to practice short putting when the pressure’s on, or walking ahead of your opponent so they feel like they’re behind all day. But, the issue with these nuggets of wisdom is that they can distract you from the real focus of the game, putting you further behind. If your goal is to win, you can’t put your efforts towards doing that if you’re spending all day trying to trick the system.

Know your weaknesses

You may or may not know the people you’ll be playing with, but you certainly know where your own strengths and weaknesses lie, so focus on these first of all. You don’t want to try overcoming your weaknesses while you’re playing against someone else, so take the time to perfect your skills and hone in on those elements of the game that tend to trip you up.

Instructional videos are a great way to do this, but also practicing your swing at home is also hugely beneficial. Carry out different drills and swing positions to perfect your short game and correct any weaknesses that will improve your performance when you’re up against it.

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Do your research

There are countless great locations for golfing, but you can give yourself an advantage if you know the course you’re playing on. That might mean agreeing to a course you play regularly (or at least more than your opponents) or reading online course reviews before you visit so you can identify any tricky shots or strategies that others have found effective. You will gain an advantage that provides you with more confidence when you’re playing and helps you prepare mentally for the upcoming shots you’ll be faced with.

Play point by point

Instead of playing a more traditional stroke scoring game, switch up the rules and award points to the person who cups a given hole in the fewest number of strokes. Match play encourages stronger, more exciting shots but it also means that hitting 12+ on a hole won’t completely destroy your round like it would in stroke play, since strokes don’t roll over from hole to hole. It’s still possible that if one of your opponents is a stronger player, they’ll continue to count overall strokes, but being able to secure the match play will still give you plenty of smug satisfaction and is guaranteed to leave the others feeling defeated.

Get aligned

A common mistake that many amateurs make is improper alignment, which can affect your performance on the course. You might think you need to align your feet towards the target or get your shoulders parallel to it, but the correct way to align your shots is to assess your target from behind the ball for the best perspective of the hole so you can aim effectively.

Also, before you make your stance, set the clubface behind the ball and align it towards your target. This should be your focus before you get into stance and paying attention to this can really improve your shots.

Focus on your grip

A more experienced player will always have a fundamentally solid grip and you might be surprised just how much grip can affect your ability to make better shots. Grip the club with your gloved hand and focus on the placement in the fingers between the first knuckle and your palm. Apply your ungloved hand to wrap comfortably around the handle, moving your thumb and index fingers of both hands to form two Vs which should point towards the right side of your chest or right shoulder.

In summary

Golf can be as relaxed or competitive as you want it to be, but when you get a group of colleagues and companies together, there’s bound to be a fair bit of competition among you all. If you’re keen to come out on top at the end of your golfing day, wherever you choose to book it, the best way is to practice, be prepared and do your research when it comes to the course itself. But above all, enjoy yourself and focus on the job in hand.

Why Your Business Will Benefit from Hiring an Accounting Firm

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StrategyDriven Managing Your People Article |Team Building Tips|Team Building Tips and Tricks for ManagersIf you are running a business, then chances are you constantly have a number of different things on your mind, one of which is likely going to worry about how you can keep up with your growth upon expansion. If you currently find yourself querying such a thing, then there are resources you can look at and learn from, but the fact is, the answer that is best for you will be different to what is best for other businesses. One reasonably universal step forward, though, is to hire an accounting firm.

As you grow, so too do the number of people you pay, your income and your overall outgoings, and with that, so too will your tax obligations change. Keeping up with these is very hard to do while running the rest of your business, hence why an accounting firm is an important asset. This article will dive into a bit more detail about why having such a firm on your side is useful.

Are You Looking to Buy an Accounting Firm?

Of course, it may be that you already know the value of an accounting firm and are currently looking out for one. If this is the case, then it is recommended that you head over to Poe Group Advisors, which buys and sells accounting firms. These will be able to listen to you and understand what your business does before making suitable recommendations.

The Benefits

So, what are the benefits of such a purchase?

You Will Save Yourself Time

It is recommended that different elements of your business are outsourced to other people because if you get too bogged down in the likes of legal, technology and, in this instance, accounting, you aren’t going to have any time to actually run your business. You want to be working on what it is that makes you unique and can generate income, not piling through pages upon pages of accounting in order to get to grips with the process and what you owe.

You Will Be Paying Employees in the Best Way

A good business is nothing without good employees and as such, it is important that you are paying them a fair wage, on time and in a way that benefits you and them equally. An accounting firm is going to be a lot more versed in working out the best way that you can pay your employees, as it is not always as simple as just handing over a paycheck. There are some complications that can present themselves along the way and as such, you will need an accountant to pre-empt these and pay your employees accordingly. The most common methods are either by salary or dividend.

You Will Get Access to Pieces of Accounting Software

There is a lot of good accounting software out there that can make inputting numbers and keeping on top of everything a lot easier. By hiring an accounting firm, you are going to get access to this software and also be able to work with someone who knows how to properly use it.

Team Building Tips and Tricks for Managers

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StrategyDriven Managing Your People Article |Team Building Tips|Team Building Tips and Tricks for ManagersThe modern world is all about collaboration and teamwork. Without it, companies wouldn’t be as successful. After all, almost every great product in history was created by a team – not an individual.

At the moment, you might have 10, 100, or even 500 hundred employees. Whatever your exact number is, it’s important to focus on team building. This is because it:

  • Creates stronger co-worker relationships
  • Boosts morale
  • Enables better communication and collaboration

On top of all this, team building also helps to unlock potential leaders for your company – which is something else to bear in mind.

With the introduction covered, let’s now take a look at some team-building tips and tricks that all managers need to know.

Use Virtual Team Building Games

Unless you’ve been living on a faraway planet for the past few years, you’ll be aware that the workplace has gone virtual. Now, millions of employees have adopted hybrid schedules where they work between the office and home – it’s been a long time coming.

Of course, this means that teams are now using laptops, tablets, and smartphones to do their work and communicate together.

This is great for team building, as it means you and your teams have an opportunity to play virtual team-building games together when you’re not in the same place. A good example is the name that price game, which is perfect for boosting morale and allowing employees to have a good time.

Friday is usually the best day for virtual team-building games, as it’s the end of the week and everybody is looking forward to relaxing at the weekend.

Provide Your Teams with Goals

Whether you have one or multiple teams working under you, it’s important to provide them with goals. This will give them a clear direction moving forward and ultimately create greater focus and teamwork.

Teams should be briefed with goals at the beginning of each new month. Plenty of encouragement and incentives should be given to your teams, too. For example, there could be pay bonuses or extra time off for the early completion of tasks.
Plus, you should also encourage teams to set their own goals.

Use Microsoft Teams

As mentioned above, the modern workplace has gone virtual.

Now, it’s all about using internet-based tools to get work done and communicate. One of the best tools for this is Microsoft Teams.

Microsoft Teams allows teams to hold video conferences with each other as well as send chat messages. Altogether, it’s the perfect platform for team building, especially when employees don’t see each other face-to-face.

Request Feedback

Sometimes, the best way to gain an in-depth understanding of what your teams want is through feedback.

Every month (or bi-monthly), you should hold meetings with your individual teams to discuss feedback in detail. For example, you might discover that your teams want more tools to use in the office, such as better computers.

Lastly, Get Social

It’s essential that employees don’t exclusively spend time together in the office. In addition to this, they should spend a little time together outside of work in social settings. This is because it enables employees to blow off some steam and have fun together in a less serious environment. Example locations include bars and restaurants.

Also, you should make it a rule that employees can’t discuss work when you’re socializing together! Moving forward, this will create stronger team bonds.

The Best Ways To Give Your Office A Facelift

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StrategyDriven Managing Your Business Article |Give your office a facelift|The Best Ways To Give Your Office A FaceliftGiving your office a facelift can sound like a difficult job. There’s a lot of square footage to work with, and you also want to try and maintain that professional quality that’s expected from the modern workplace. How are you supposed to redesign under these conditions?

Well, you’ve still got a lot of freedom to do what you want with your office here! And while you’ve already made a lot of alterations to your office in the past couple years, there’s still a lot more you can do to make your office the place you really want to be. Let’s go through some examples of the best ways to ensure this below.

Combine Your Styles

Do you like the white, minimalist aesthetic? Maybe a little bit, but certainly not in the abundance you see in modern workplaces! So break the mold here and pick a different style or two to complement this look within your office.

Get some mid-century furniture in, use Scandi wall decor techniques, and make sure there’s a pop of color or two to help break up the monotone background you’ve always hated walking into work to.

Avoid Light Overexposure

The more light in your office, the worse it’s going to look! Yes, you need to see what you’re doing, and there’s going to be some health and safety regulations you’ll have to follow as well, but that doesn’t mean you need overhead, fluorescent lighting. You can turn these fixtures off, save yourself a whole lot of money on the literal overhead, and use softer lights instead.

For example, opening up blinds and clearing the windows to let the sun in. But when it goes down for the day, using desk lamps or standing lamps or even RGB strips instead will make your office look a lot more inviting. This kind of lighting is a lot more comfortable on the perception, and certainly won’t hurt your eyes!

Make it Last

The more you can do now to maintain a shiny and sleek quality to your workplace, no matter how vintage or mid-century you’ve designed it to be, the less work you’ll have to do later. And this means you can work under the comfort that your office design is going to last for a long time, and you’ll always enjoy coming into work to see it.

So, what can you do to keep your office always looking clean and tidy? It’s in the little things. For example, if you’ve got wooden frames hanging on the wall, get them waxed and sealed, and make sure any signs you hang are covered with 651 vinyl. Similarly, you can layer hardwood, lino, and carpet with further carpets and easily switch these in and out when they wear away. Look around your workspace and see where other small touches can be made.

Giving your office a facelift just takes a bit of inspiration! Make a difference in your workspace using tips like the ones above for ideas.