Things You Need to Know Before Applying for a LOAN

What-you-need-to-know-before-applying-for-a-bank-loan by Pulse NG
The starting point for every individual is to ascertain if a loan is absolutely necessary. Technically anyone with an income, whether through a salaried job or through a business, qualifies for loans. Loans can be used for many purposes, which include buying a house, buying a car, consumer appliances, refurbishing a house, marriage, education, health issues among many others. Understanding what loan options are available and what lenders need from you, will make it easier to get the money you need. Before starting the process it is important to know the following. Be clear on what you need the loan
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Ways To Source for Business Capital

financial-services-in-Nigeria-money-naira by MyNaijaNaira
Entrepreneurs often have amazing business ideas, but they put them on hold for lack of capital. They assume their business will never get far off the ground unless they have major funding backing them. Figuring out how and who to raise money from will save you time and yield better results. If your idea and plan of execution are not well thought out from the beginning, no amount of money can turn it into a winner. Do you have a great idea but very little money? Do not let that stop you. Here's an overview of typical sources of financing
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Money Management Practices That Ruin Businesses

Woman counting money by Pulse.
Entrepreneurs start their business with an idea and lots of energy, however as the business gets very engaging, they start to unconsciously develop bad financial habits and to be successful as an entrepreneur, good money management practice is crucial. Here are some of those habits and how you can break them; 1. Not keeping financial records How do run your business if there are no records available for checks and balances? Some business owners think they can keep track of expenses and incomes in their head but that's impossible. It can never be accurate and will only lead to business
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10 Reasons You Should Have Multiple Sources Of Income

Man Counting Naira Money by Premium Times.
Having multiple income sources do not mean having 2 or 3 jobs but creating passive or semi-passive income sources using your active income source (income from your job). 1. One income source can never solve our numerous but necessary expenses averagely millionaires have multiple sources of income. 2. Your work can now be outsource to cheaper person even if it is in another country. 3. Most jobs will soon be replaced by technology. 4. It frees you from worries of not having enough at end of the month. 5. Inflation is going higher and salary is almost at a fix
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Financial Mistakes That Could Crash Your Marriage

Frustrated young couple about money by Shutterstock.
Financial mistakes could be disastrous for your marriage and should be avoided at all cost and if you’re about tying the knot this info is timely for you. Love is ideal for a home but for a long-lasting relationship between man and wife, all your ‘money-matters’ need to be handled upfront and delicately at that. Merging of accounts While this is a sweet gesture, it might also be the fastest route to a divorce. In the spirit of love and to prove their trust in their spouse, some people make the mistake of forming a joint account. What a lot
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Reasons Why Your Savings Are Not Growing

1000 Naira notes Money by Punch.
For quite a while now you’ve been saving money yet each time you check your account balance nothing seems to be happening. Here are the reasons why you’re be stuck in your present financial situation. You don’t have goals A lot of people just save because saving is a thing in the business world. They have no actual plan or goals they want to meet. If you set yourself goals (short term and long term); you’ll find yourself enthusiastically doing so much more. What are your money goals? How much do you need to save every month in order to
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Why Hating The Rich Is Keeping You Poor

Rich versus poor
It has been proved that those that hate rich people are very likely to remain poor. How do you know if you hate rich people? If you find yourself laughing at a rich guy having to suffer, you may be suffering from an unconscious belief that is likely sabotaging your success. In fact, hating the rich might be making your poor. If you agree with any of the following beliefs, you might be hurting your chances of becoming wealthy yourself. i) Rich people are greedy ii) Money corrupts people. iii) People get rich by taking advantage of others. iv) Good
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Don’t Wreck Your Retirement: The Entrepreneur’s Guide to Personal Finances

Retirement savings age timeline by CNN Money.
Founders have to set themselves up for personal finance success irrespective of their business's performance. A risk-averse entrepreneur is as much of an absurdity as a tightrope walker who’s afraid of heights. Economist Richard Cantillon is credited with having coined the word "entrepreneur," which literally means "bearer of risk." And that makes sense: In fact, entrepreneurs actually thrive on uncertainty. They have to be scrappy and resourceful to effectively grow and scale their businesses; and that outlook has a trickle-down effect. While it’s extremely common for new startups to burn more money than they make, it's important for founders to
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Tips On How To Remain Poor

Man on sweater with empty wallet by Naujienos.
1. Never wake up early. Keep stretching and turning in bed until you get too hungry to continue dozing. If there are no bed bugs, why hurry to get up? 2. Never plan how to spend your money. Whenever you get money, start spending it right away and when it's finished, you try to count and recall how you spent it. 3. Don't think of saving until you have real big money. How can you save when you earn so little? Those telling you to save are not sympathetic to your burning needs. 4. Don't engage in activities usually reserved
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What Type Of Salary Do You Earn?

Money – Salary in Naira.
What Is Your Salary?  We all know Salary, is a specific amount of money that an employee is paid for work done. But we are not interested in the amount but the type of salary in this context. The Big Question Is Which Type Do You Earn? Onion Salary: You grab it, you open it and you cry. Storm Salary: You don’t know when it’s coming or going. Menstrual Salary: It comes once a month and lasts only four days. Magic Salary: You touch it and it disappears. Amnesia Salary: You can’t remember what you spent it on. Time Traveling
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