Most Safe Places to Keep Your Money

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savingNow that the stock market is not very certain due to sinking companies, the volatility of the economy, real estate bubble among other factors leading to fluctuation in the value of money, which are the best places to keep the money? You need to keep your money in a place that brings high returns. Such a place should be free from risk or have a very low risk.

If you’re looking to invest your hard-earned money, it can be overwhelming to decide where to put it. If you’re young, you are faced with a lot of challenges in determining where to invest your money and enjoy the profits for decades to come. When saving for retirement, stocks are the best option due to the high rate of return over an extended period. However, for short-term investments, where do you go?

If you are looking for the safest places to put your money, here are the top places you should consider.

Savings Account

Savings accounts are perhaps the most honest and most convenient place to put your money. These accounts are very liquid such that you can get money in or out whenever you want. The specific features defining a savings account include interest rates, account balances and the use of cards. In most cases, banks offer a meager interest that is not enough to keep up with the inflation which is mostly 0.06%. Some banks may let you open an account with as low as $1 which others require anywhere between $50 and $50,000 as minimum operating balance.

Money Markets

Just like savings accounts, money markets are safe and liquid accounts which allows you to store money up to a certain amount, mostly $250,000. A couple of aspects make money markets to be different from savings accounts. In money markets, the interest rate is a bit higher than a savings account. To operate these accounts, the minimum account balance can be anywhere between $1,000 and $25,000. There are a certain number of transactions you can make per month as per regulation.

Certificates of Deposits

A certificate of deposit refers to a fixed term loan that you make to your bank. With CDs, you agree with your bank to keep your money for a specified time, it could be six months, one year or three years, in exchange of an agreed-upon interest rate that is guaranteed when the certificate of interest matures. CDs are insured, and this means you can’t lose your money. The key downside of CDs is that it ties down your money for a specified period. Though it is possible to withdraw it before maturity, you will pay the price for that.

Low-Risk Investments

The downside of low-risk investments is that the interest rate is quite low. But all in all, you don’t want to put all your vital eggs in one basket. Some of the best low-risk investments include; treasury securities – which are loans that you give to the government including treasury bills, treasury notes, and treasury bonds. Treasury bills take weeks to a year to mature. Treasury notes are medium and may take 2 to 10 years to mature while treasury bond is long term and may take up to 30 years to mature with interests paid every six months.

Categories: Business

Ways to Get Investors for Your Business

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fundingWhen you have a viable business idea and you know the amount of funding needed to get you off the ground, the next step is to find investors. Finding investors can be intimidating and a scary route, but its the best path you can follow to achieve success. You have to understand that business plans do not generate business financing. Though there are many kinds of financing options that require a business plan, the truth is that nobody invests in a business plan. Investors need a business plan because it is a document that communicates information, ideas, and projections, but they invest in a company, its products, and people.

When you are in search for the right investor, here are some aspects you must get right.

Realistic Budget

Create a realistic budget that can help you gain traction. Investors see great companies as those with a proven traction and customer delivery. You will need to have a budget to get your first customers. Once you have reached a particular milestone, it’s time to look for investors. As a CEO of your company, you may dedicate up to six months pitching to the right investors. Have a budget on what it will cost you regarding traveling and other expenses.

Use Startup Launch Platforms

investorMany companies have now launched specific platforms that provide research, information, and assistance in all aspects of getting a business began including the best ways to connect with the right investors. These startup guide companies, otherwise known as incubators provide extraordinary opportunities to help many people get connected to the right investors.

Angel Investors

You can find angel investors who are willing to invest in your startup. These angel investors are not only willing to invest in your startup but are also ready to sit on your shoulder to offer you mentorship and a lot of solid advice. They also provide you access to their network of contacts. There are so many online platforms where you can find angel investors who can give you a lot of information on the different types of investments you might seek.

Crowdfunding

There are hundreds of crowdfunding websites and platforms that can help startups grow. These sites provide you access to different types of investors from the general public who are willing to take part in your startup to philanthropists who have an interest in helping others realize their dream. Each crowdfunding platform has their focus and a way of attracting investors. All you need to do is to study them keenly and see which the right one for you is.

Categories: Business

How to survive Paris on a student budget

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study in parisStudents all over the world are rushing to Paris to enjoy the best of what French education offers to the world. Paris is known for being an expensive city, and its prices can be among the highest in the world. You may find yourself spending a lot on flights, accommodation, and hotels. Foods, drinks and other forms of leisure can be a massive killer of money.

To survive in Paris as a student, there are a couple of things you need to get right. Here are some of the stuff you can do to have a reasonably good time in France.

 

Start Saving as Soon as You Arrive

Yes, you read it right. Start saving as soon as you arrive in Paris. Paris has one of the most advanced subway systems in the world. 16 Metro lines connect five RER commuter lines, and this makes every block of the city combined. You can buy paper tickets at any station cheaply and save a little on the go.

 

Buy Paris Museum Pass

While in studying in Paris, you will need to travel around during your free time. One of the best ways to save money is by getting a museum pass. There are so many museum pass attractions that are worth seeing, and you can get tickets a considerable bargain. Since most people visit these museums, you are assured to get huge discounts on certain days.

 

Get a Grant

parisYou need to be frugal and spend your euros wisely as a student. However, you don’t have to tighten your purse too much because there some available financial aid you can use to meet some basic needs. International students studying in France can enjoy hundreds of student grants that can make your life easier.

 

Apply for CAF

CAF stands for Caisse des Allocations Familiales. While in France, rent can be quite expensive. However, if you a real yearlong lease or apply to live in low-income areas as a student, you are safe. If you have your visa validated, then you can ask for assistance through making a declaration about your current financial situation.

In addition to studying, you can work up to 964 hours per year and make extra cash. Once in France, you can work part time for up to 20 hours per week, Some the part-time jobs are spread in areas such as teaching, working in restaurants and working in tourist areas.

Categories: Paris