“When I was young, people lived from paycheck to paycheck. Today, it seems like they live from credit card payment to credit card payment.”

Robert Kiyosaki

(WASHINGTON, D.C. – February 5, 2023) – Secured credit cards are becoming increasingly popular as a way to build or rebuild credit. But what exactly is a secured card and what are the pros and cons of using one?

One of the biggest pros of a secured card is that it can help you build or rebuild your credit score. Secured cards require a security deposit, which acts as collateral for the card issuer in case you default on payments. This makes them less risky for issuers than unsecured cards, so they are more likely to approve people with bad or no credit. And if you use your secured card responsibly by making payments on time and keeping your balance low, this will help improve your credit score over time.

Another pro of secured cards is that they often come with lower interest rates than unsecured cards. This makes them an attractive option for people who want to avoid high interest rates but still need access to credit.

On the other hand, there are some drawbacks to using a secured card. One of these is that most secured cards have annual fees, which can add up over time and make it harder to pay off your balance each month. Additionally, many secured cards do not offer rewards programs like cash back or points, so you will not be able to take advantage of those benefits either.

Finally, another con is that some secured cards have low spending limits compared to unsecured cards. This means you may not be able to make large purchases with your card or may have trouble paying off larger balances each month without incurring additional fees or interest charges.

While there are both pros and cons associated with using a secured credit card, it can be an effective way for people with bad or no credit history to build their score over time if used responsibly.

“Pleasure in the job puts perfection in the work.”

— Aristotle

(WASHINGTON, D.C. – February 2, 2023) – The gig economy has been on the rise for some time, offering those who have been laid off from corporate jobs a FRESH START and new opportunities. While self-employment in the gig economy can prove to be highly rewarding, it is important to be aware of the potential pitfalls that come with taking this route. This article will discuss pros and cons of the gig economy, as well as examine strategies for success; and discuss how to best leverage transferrable skills from a corporate job into the gig economy.

SELF-EMPLOYMENT IN THE GIG ECONOMY

At its core, self-employment in the gig economy offers a unique degree of freedom and flexibility that is hard to match in more traditional work environments. With no upper management or bureaucracy to answer to, those who are self-employed get to set their own hours and determine their own working arrangements. This could include deciding when one works as well as which projects they want to pursue; thus giving individuals great control over their time and economic lives.

ONLINE PRESENCE

On top of this, good earnings may be possible depending on how successful freelancers are able to market themselves. One way to market is to build an online presence. By building an online presence through efficient networking practices with other professionals and creating good quality materials, freelancing can prove extremely viable in terms of financial sustainability.

DRAWBACKS TO THE GIG ECONOMY

However there are also several drawbacks worth noting before committing fully to making a go at it on one’s own terms. For starters, leaving the comfort and security of full-time employment means that each month is not guaranteed money. Freelance income tends to fluctuate widely meaning one needs an emergency fund just in case business dries up suddenly. Additionally many freelancers find themselves overwhelmed by all of the administrative tasks associated with establishing oneself as a self-employed entrepreneur such as accounting & juggling multiple projects.

SEEK PROFESSIONAL ASSISTANCE

In order for those transitioning from corporate life into freelance gigs to succeed, they should seek out mentors who are already established in the field they are looking towards entering with the aim of learning best practices from more experienced colleagues. This can make all of the difference when it comes to setting up your own business properly and navigating unique circumstances that come along with any type of venture (such as networking tips and finding clients). Additionally leveraging transferrable skills from your previous profession into your new ventures will help you hit the ground running much quicker than if you were starting anew. Search for situations where past knowledge may apply even if seemingly unrelated at first glance, such as customer service experience for digital marketing.

There are both pros & cons when it comes to transitioning into self-employment from the corporate work environment – those considering such an arrangement must weigh these factors carefully before proceeding otherwise discouragement due to lack of preparation may ensue. However by leveraging previously accrued skillsets & seeking mentorship, success is achievable!

“Whenever we talk about the future, we look at it in terms of generations rather than quarters.”

-Michael van der Post

(WASHINGTON, D.C. – January 27, 2023) – Doing business with family members can be a tricky endeavor and should not be taken lightly. On the one hand, working with people who share your values and goals can create a strong bond of trust, understanding and collaboration. On the other hand, when money is involved, relationships can become strained as people feel like their personal interests may suddenly take precedence over familial ties.

POSTIVES

The positives of doing business with family are numerous. For starters, you can trust the other party to have similar values to yours since you come from a common background and heritage. This understanding is invaluable when it comes to running a successful venture because it allows both parties to function in such a way that they are effectively anticipating each other’s needs and expectations before they arise. Additionally, family members often have different skillsets, so there is potential for synergy if these areas of expertise are harnessed correctly. By delegating certain tasks to those who are best suited for them, everyone can move forward together towards a shared goal while utilizing resources more efficiently.

DRAWBACKS

However there are also several potential drawbacks when it comes to conducting business with family members. While having an understanding of one another’s values may create trust between those involved in the venture, it potentially leads to a lack of professionalism which could result in trouble down the line if not addressed properly at the outset. Additionally, conflicts may arise if either party feels that their interests or contributions are not being recognized or valued sufficiently – this is especially true if different generations within the same family are involved in the venture as generational perspectives on how business should be conducted may differ significantly from one another.

Doing business with family members can be both rewarding and challenging depending on how well all parties approach their relationship going into it. Set clear boundaries early on, about how decision making will work within the enterprise. This will ensure that everyone has an equitable share of responsibility for outcomes.