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5 signs you are inching towards a debt trap and how to get out of it



debt trap

For many of us, especially the salaried class, debt is unavoidable. With instant loan apps such as Cashe, Kreditbee, taking personal loans anytime and anywhere has become easy. While being in debt or loan is not a good thing, some kinds of loans or debts are necessary for certain situations and are classified as good debts. A personal loan taken from Kreditbee or any mobile loan application or bank to buy a laptop for your business, student loan for your child, home loan are generally considered as good debt as it helps you generate money and build net worth over time. The problem starts when you avail any form of loan to purchase a depreciating asset, such as for buying a car, on clothes, as it is considered a sign of you falling into a debt trap. 

Let’s understand the signs which indicate you are in the pre-debt-trap period and how you can get ahold of your expenses:

  1. Paying only the interest component on credit card bills: Most people only pay the interest component of their total outstanding credit card bill or personal loan bill of Cashe and let the whole bill roll over for the next month. This is usually the first sign that indicates you are falling into a debt trap because if you keep on doing this, interest on the bill, which is usually on the higher side, will continue to accumulate, and you would not be able to pay off your debt even in ages. 
  2. Taking a new loan to pay off the earlier debts: Availing a loan from Cashe, Kreditbee, or from other instant loan apps or doing balance transfer from one credit card, unless these activities are aimed at helping you increase your net worth, are a clear sign of you falling into a debt trap.
  3. Paying more than 50% of your income on EMIs: Whether it was a splurge you did during the festive season by availing loan from Cashe, or you mindlessly spent a huge chunk of your earnings on useless items only to be left with huge EMI obligations, if more than half of your net income is going towards paying off EMIs, it is a sign of debt trap you are into. 
  4. Meeting regular expenses with your savings fund: You must have saved money for your child’s education, retirement fund, emergency, unexpected medical expenses, and if you have to take out money from either of these funds to meet your regular home chores expenses, it is clear your expenses are mounting over your income. 
  5. Borrowing money to meet regular expenses: If you have to borrow money from your family and friends to meet your regular monthly expenditures, it is a clear and cut sign that you are falling into a debt trap. 

Simply put, a bad trap is a situation in which you can’t repay the loan due to high-interest rates, limited financial resources, and multiple EMI payments on kreditbee. On the other hand, if you gain a thorough understanding of the debt you are in, you will be able to get out or break free from this trap and be able to live a financially stable life. Here is how you can do so:

  • Prioritize debt: If you have taken short and long-term loans, then first clear off the loans that are most costly in terms of interest rates, overhead costs, and fees.
  • Track your expenses: If you do not have the habit of saving money, start by keeping track of your expenses. Meanwhile, reduce your spending on non-essential items such as movies, luxury purchases, and leisure tips. You can also save money by carpooling or consuming home-cooked meals instead of ordering takeout. If you have extra time left after office hours, take on a side job to supplement your income. All of this may seem like an added pressure but remember it is only temporary until you are back on track. 
  • Ask your bank or financial institution to increase your loan term: If you have a long-term loan such as a Home loan, you can ask your bank to extend your loan term. This will raise your interest rate, but it will lower your monthly obligation of paying EMI & give you more time to repay or pay off your debts. Learn to negotiate the interest rate with your bank if you have a long-standing partnership with them.
  • Clear your outstanding dues in one go: You might think that clearing credit card bills in parts will help you save money for other things, but this is where you are wrong. For example, if you pay 90% of your total credit card bill, the bank will charge interest on the total amount in the next billing cycle and not just on the outstanding 10%. Hence, it is advised you must clear all your outstanding amounts in one go rather than paying the minimum amount due every month. 
  • Take insurance: This might seem like an additional expense, but taking adequate cover against death, disease, disability, and damages protects you against unforeseen events and ensures your family is protected against unexpected expenses. 
  • Avoid loan settlements: When you are financially strained and can’t seem to repay your debts on time, your lender may offer you an option to do a loan settlement option. It involves paying only the principal amount, and the bank will consider your loan “settled”. Remember, the loan settlement will get the recovery agents off your back, but the settlement will reflect on your credit report that can make future borrowings very difficult. 
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Marketing strategies work in such a way that we as a consumer get enticed by words such as ‘offers’, ‘discounts’, ‘easy EMIs’, ‘no cost EMI’. This is not to say that such offers do nothing; for a person who urgently needs, for example, a laptop for their business will find these offers or personal loan from Cashe, Kreditbee, and other such instant loan apps quite helpful as it is helping them build their net worth while allowing them to pay off dues in a staggered manner. One has to draw the line between compulsive spending and being mindful of their finances. While you may have fallen into the debt trap, the aforementioned tips will help you get out of it as well. Simple tips such as paying off your outstanding credit in one go and not taking out money from an emergency fund will ensure you do not fall into the debt trap ever.

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Corporate Video Production – why worry have us




Corporate Video Production

There are many reasons for this, here are a few most important ones: Need Professionals for Corporate Video Production By having a strong corporate video production, you can get a wide range of corporate video solutions designed for your products or brands to entice your clients and customers.

Best Team Members to have

 But Shoot at Sight is the only best corporate video Dubai Company that works in its best way to produce the best and most unique corporate video. Make Your Corporate Video Dubai Famous Having a corporate video in Dubai as your partner on your way to success, you can have maximum attention from all your customers.

 You must be thinking that why it`s important to have the best corporate video Dubai company for your corporate video production, right? Corporate video Dubai is blessed with amazing writers, advertisers, and many other professionals who work together to have or produce the best corporate video in Dubai.

Educate through Corporate Video

Therefore, Shoot at Sight is the perfect corporate video Dubai for creative corporate video production as it has the best professionals just for this purpose. Contact Shoot at Sight the Best Corporate Video Dubai for unique and best corporate videos. 

As you know, the main purpose of creating a corporate video is to educate your audience about the brands or services we offer to all our clients or clients. So, we know that your time is invaluable, so please help us to create the best corporate video for Dubai in a short time.

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Professional in Working 

 Corporate Video Dubai is best in its work. Are you looking for it? Corporate Video production companies play a vital role in your business progress. Corporate Video Engaging and Creative Short to See but Entertaining As today, everyone is busy so we would create short and full of entertainment corporate video Dubai. 

Corporate video Dubai will present your brand in such an amazing way that customers and clients will have no other option than to accept your offers. With the help of corporate video Dubai, you can easily let the audience know about the story of your brand or service. 

Videos full of Creativity

We create the best and most creative corporate videos for all our customers. Corporate video is considered an important factor in driving any business. Shoot At Site’s Best Video Production Dubai Company will help you in every situation. You just have to believe in us and tell us your vision and thoughts. 

Always there for you All

Shoot At Sight’s Best Video Production Dubai Company will help you in every situation. You just have to believe in us and tell us your vision and thoughts. Unique Corporate Video Dubai Production If you don’t have a strong Corporate Video Dubai to promote your brand, the same is true for your company. we




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6 Core Functions Your Small Business Should be Outsourcing Today



6 Core Functions Your Small Business Should be Outsourcing Today

Currently, more than a third of small firms outsource at least a portion of their operations. And even more intend to investigate this option in 2022.

As a small business, outsourcing helps you to get more done and delegate key activities and processes to specialists without having to significantly expand your full-time crew. It allows you to keep costs under control, increase production, and focus on the elements of your business that you enjoy and excel at.

This concept may be used in a variety of business situations. Here are some of the most important aspects to examine.

1. Computer Technology (IT)

About 53% of organizations outsource at least some of their IT services, with another 26% planning to do so in the near future. Using outside vendors or cloud solutions to manage your IT functions makes you more flexible as a company and gives flexibility as your firm expands, in addition to cost savings.

Always plan ahead and try to have an entrepreneurial mindset. The task of an entrepreneur is not simple; it takes thought and strategy.

2. Finance/Accounting

Despite the fact that payroll is the most widely outsourced service, 60% of small firms still manage it in-house. It has been proven that delegating this duty to experts or using payroll software can reduce expenses and improve compliance. Companies who outsource payroll save 18% compared to those that do it in-house.

In addition, the IRS estimates that 40 percent of small firms pay $845 in fines each year for late or inaccurate filings and payments. Sales tax can be just as taxing. According to Aberdeen Research Group, small businesses spend 24 days each year manually maintaining sales tax compliance, which costs roughly $22,000. Payroll services can assist you in meeting obligations such as pay stubs and state and local income tax withholdings. If you face an audit, your costs will quadruple. Online services and automated software can help you mitigate this danger while also saving you money in the long term.

3. People

Three out of four small enterprises in the United States claim that hiring freelancers gives them a competitive advantage. One-third of Americans increasingly prefer to freelance, contract, or consult, indicating that skilled labor is plentiful. Companies who hire freelance and contract workers receive access to talent they couldn’t otherwise afford. Virtual assistants are also in high demand, with economical administrative professionals only a click away. Outsourcing allows your company to adjust staffing levels in response to seasonality or project demands. To prevent IRS inspection and possible penalties, make sure to follow protocol for properly classifying workers.

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4. Promotion

When it comes time to grow your business, an outside marketing firm can help. They can handle ad design, content generation, and social media posting so you may focus on your company’s internal operations. Furthermore, these organizations are typically staffed with specialists who can help you generate novel ideas and practical strategies that you would not have had access to otherwise.

For small businesses, ecommerce and social selling have made internet marketing, web storefronts, and social media more important than ever. However, having full-time PR, social media, and site design tasks in-house is neither financially practical nor the greatest use of resources for most companies. According to a survey, small company owners spend around 33 hours each week on marketing. A large percentage of this group (76%) said they don’t have enough time in the day to get everything done.

5. Logistics

Outsourcing logistics allows retailers to concentrate on selling and merchandising. Having third-party companies manage fulfillment, warehousing, and shipping reduces overall costs while also improving customer service. These service providers are industry professionals. As a result, they can respond faster and scale to meet demand than you can.

Which fulfillment, warehouse, and delivery activity providers you select is highly dependent on the size of your company and the products you offer. Let us know which applications or integrations you use and why they work (or don’t) for you in the comments.

6. Customer service

You can outsource your customer care strategy to an outside call center or chat service for organizations that deal with clients primarily online or over the phone. To do so, you must first establish protocols and ensure that the company that will be interacting directly with your clients receives clear instructions.

Having trained or dedicated customer care staff isn’t always a practical choice for smaller businesses. This frequently implies that office workers or salespeople are responsible for this duty, spending their time between acquiring new customers and maintaining existing ones. Outsourcing to a contact center might provide you with the additional labor you need to manage consumer calls.

Companies should understand the advantages of outsourcing individual projects or sectors of their organization to improve productivity and overall efficiency.

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Choosing your business location: our advice



business location

Are you starting your business? Wondering how to choose your business location?

Where you are going to set up your business will greatly influence its development. To ensure the growth of your business, you must set up your activity in a place conducive to its success. It is therefore important to carefully study the criteria relating to location, cost, and facilities when choosing your business location.

To help you in your search Vacation Rentals for Remote Work, here are 4 tips and things to consider when choosing the best location for your business.

  1. What are your business needs?

This first question is essential. Depending on the sector of activity of your company, your location needs will change significantly. You could consider shared offices in city centers as well as more spacious premises in the regions. You must therefore start by establishing a list of essential criteria for the development of your business.

Depending on your activity, you might need:

  • Storage spaces
  • Accessibility for deliveries
  • Quiet offices
  • A busy area

Meeting or conference spaces

Many other criteria can be taken into account. The key is to identify which ones will meet your business needs. After clarifying your business needs, the next step is to consider the needs of your customers and employees.

Needs of your customers

The good development of your company obviously requires its customers. Most of the time, you have to choose your business location based on its visibility, to attract new customers. Your workplace must therefore be strategically targeted according to your clientele and their needs.

If you are a merchant, it is interesting to choose shopping centers or busy streets to guarantee more visits and notoriety. Your customers will travel to certain specific sectors to find what they are looking for. Plus, your competitors are probably there. Place yourself according to them!

Conducting market research will help you learn more about your customer base, as well as your competitors. In addition, the neighborhood with other companies in sectors complementary to yours could be conducive to the development of your company. You could create new partnerships, make yourself known and attract more customers!

Needs of your employees

A growing company needs to recruit labor to support its growth. One of the first selection criteria is therefore your need in terms of manpower. Where is the skilled labor you will need?

For example, you are creating an interior design agency. But you decide to settle in an area more than an hour from the city. In this context, there is little chance of finding sufficient qualified professionals. In addition, you will not have the necessary visibility and accessibility with your target customers.

The following aspects must therefore be considered when choosing your business location:

  • Does the region have qualified professionals in your field?
  • Would the workplace be within a reasonable distance for your employees?
  • Is the site easily accessible (parking, transport, etc.)?

In addition, you must consider the attractiveness of the location you choose. You get significant benefits for your employees if the workplace is close to:

  • Restaurants
  • grocery stores
  • Daycare centers
  • Housing
  • Parks
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Once these first aspects have been clarified, you can identify the precise geographical area where you are going to set up your business.

  1. Geographical location

To start, think big. Think province, city, neighborhood … and ask yourself which area would be most conducive to your growth. You may choose to locate near your competition to attract more customers, but perhaps not next door.

The address of your location speaks for you. Installing a digital marketing agency in the industrial areas of Montreal does not have the same impact as having its address in the city center or in the Old Port. Although costs vary by location, location influences your business image.

Once you have clarified these points. You can focus on the practical aspects of the areas you are targeting such as:

  • Proximity to public transport (metro, bus, shared bikes, etc.)
  • Nearby parking
  • Accessibility for people with reduced mobility

Keep a list of several location choices for your business, then you can evaluate the possibilities based on market prices and your resources.

  1. Cost

Remote Worker vacation rentalsRent is a significant part of your business expenses. The cost of your rent must be adapted to the potential and the financial capacities of your company . Choosing your business location involves finding a balance between desires and possibilities.

In addition to the basic cost of rent, you must consider the hidden and extra costs that would not be mentioned in your lease such as:

  • Cleaning fee
  • Hospitality or security costs
  • Parking costs
  • Additional charges

Also, remember to find out about business taxes to add to your installation costs. The total cost of your rent includes all these aspects, so avoid surprises!

  1. The building

Finally, the building infrastructure must meet your needs. You must therefore inspect the entire building to ensure that it corresponds perfectly, or almost, to your search before signing a lease.

Some buildings can hide certain disadvantages. When it comes to choosing your business location, you want to find a place that’s as comfortable as it is practical. For example, consider checking whether:

  • Heating is working
  • There is air conditioning
  • The insulation is well done 

The size must also be adapted to the potential expansion of your business. Moving several times in a few years is undesirable and can be expensive. Building efficiency is also important. There must be all the necessary facilities for the operation of your business. Especially:

  • Internet and telecommunications installations in general
  • Conference rooms
  • A reception or/or a waiting room
  • The needs and wishes of your employees

Depending on your abilities, you could afford certain extras that will increase the quality of life at work for your employees. Some offices have extras such as:

  • Food
  • Terrace
  • Restrooms

You now have the various selection criteria to choose the ideal location for your business. So, start your research and propel your business in the best conditions with a location of choice!

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