Run The Money
Follow Run The Money

A Comprehensive Guideline That Will Help You Manage Your Money

  • July 20, 2021

There is more to becoming financially stable than amassing great wealth. That's why you need to learn the money language and ways through which you can manage your finances, creating room for wealth growth. Many people are struggling with debts and overwhelming budgets due to poor money management techniques. Detailed below are guidelines that, when followed, will equip you with elementary financial management skills.

Track Your Expenses

Tracking your monthly bills is the first step to money management. You can never manage your finances without understanding where your income goes. There is a tendency for households to look for credit companies for loans without understanding how they'll use them. Unnecessary credit lowers your creditworthiness while impairing your future financial freedom. Statistics show that most people apply for loans to handle and take care of expenses. Looking for a loan for necessary and justifiable spending is crucial, hence the need to scrutinize Maxlend to affirm the lender's reliability.

Through exploring your expenses, you will manage to cut off unnecessary expenses. For instance, if you have a monthly subscription that you no longer use, it would be best if it's cut off. The beauty of managing your expenses is distinguishing what expense is justifiable and which one to dispense with.

Track Your Income

After tracking all your expenses, you should consider examining your monthly income. The income you generate services your expenses. How well does your income service your expenses? Comparing your income to your monthly expenses helps you understand whether you generate enough income to meet your expenditure. Financial management demands spending less than your earnings. Your earnings must service your expenses, support your saving plan and retirement policy. Therefore, scrutinize whether your income is enough to save for emergencies, retire, and meet monthly bills.

A study shows that many people are unable to service a $1,000 emergency without overstretching their financial reach. The best way to harmonize your income and expenses is revisiting your budget, hence cutting down on some expenses. Alternatively, you can establish a side hustle to help you fill your financial gaps.

Embrace Budgeting

Budgeting is the prerequisite to managing your finances appropriately. Nonetheless, most people don't understand how requisite a budget is to financial liberation. There is a misconception among the populations that budgeting entails tracking down one's expenditure. There is more to budgeting than designating fractions of your income to household expenditures.

Budgeting will, then, help you make and implement major financial decisions. A budget instills the art of responsibility and a healthy spending trend that loathes impulse spending and buying. When budgeting, ensure to incorporate your monthly, savings, and future needs.

Looking for Money Saving Channels

Keenness must be employed when buying products and services to identify ways to cut costs without jeopardizing quality. Therefore, exercise due diligence when procuring services and products, which helps you compare prices. For instance, when buying an auto insurance policy, you should consider scrutinizing coverage from different companies to identify the most affordable without depriving quality. Additionally, you can look for discounts, cashback offers, coupons, and other money-saving techniques and channels. You can save or use the money you save for other household development needs.

Examine to Manage Your Credit Life

Managing your finances demands improving your creditworthiness. Therefore, examine your credit score and report. Your credit card account usage and payment pinpoint how reliable you are credit-wise. Therefore, take time to examine ways to advance your credit score, and one is avoiding unnecessary credits. Improving your creditworthiness requires an upfront understanding of your debts. Therefore, examine pending debts and loans, including student loans.

The art of tracking your income, expenses and creating a budget enables you to manage your money effectively. Nonetheless, it would help if you diversified your household income generating techniques through saving and investing. Additionally, plan for your future financial freedom.


Read more

3 Types Of Debt You Can Avoid

  • July 20, 2021

 

Debt is a part of life for some of the most affluent people in the world. Debt is essentially a given in the economy. Financial markets deal in debt all the time and major companies that we know, such as Uber and even Tesla have debt ranging in the billions. This is often why some people also think that debt in their own lives is simply something they should accept. Yet, there are some types of debt that everyone can avoid and never come into contact with at all. Let's explore three types of debt that you may think are commonplace, but you don’t actually have to ever take on.

Mortgage debt

This is something many of us believe right? Mortgage debt is just a given when buying a new house. Of course, this is something the lending market wants us to believe. Mortgages were designed to help everyone get onto the housing ladder, but they only became mainstream about 30-40 years ago. Many people simply saved up for a home until they could afford one outright. Since when did this become a pastime? You don’t have to take out a mortgage on your home if you can wait to buy it yourself. This does mean you will have less financial firepower in the short term, but if you have a stable job, discipline to save and can manage to rent an apartment for a couple of years, then you shouldn’t fear buying a home without a mortgage.

Student debt

Did you know that student debt in the United States is now the second-largest debt pile in the country? That’s right, it's $1.7 trillion, outstripping credit card debt and even car loans. This has meant that for many students, they are up to the necks in debt that they are trying to pay off while also, trying to save for a house, pay rent, enjoy life by going on holiday, etc. One person by the name of Eli Munc found a way to avoid student debt as he entered into the marketing industry without a college degree. He believed that the marketing industry is so fluid and always changing, that the college curriculum would not be able to keep up and thus, provide him with skills that may not match his particular job. 

Car loans

Car loans should be a thing of the past but here we are, people still believe they need to take out a loan to buy a car. The leasing market is far more advanced, as you can rent a car for 6-12 months and then either update your contract and continue on with the car dealer or just call it quits and end it. Not to mention, electric cars can now be leased so if you install a recharge station at home, you pay a few dollars for the energy and a few hundred dollars a month for the car itself. The savings are potentially huge.

These are just some of the ways you can avoid the most common forms of debt. You don’t have to get into a debt hole and just accept it. Think outside the box and form your path towards your purchases.

Read more

The Financial Pros & Cons Of Buying Things In Installments

  • July 20, 2021

 

What does it mean if you buy things in installments?

Instead of buying something all in one go, you break it up into smaller payments. This is typically on a monthly basis, though you can also get some installment plans that pay every three months, six months; whatever. The point is that you don't pay the full price for a product right away, it is paid over a longer period. 

The question is, should you pay for everything in installments? Right away, you can see some benefits to paying for things over a longer period instead of all in one go. Well, the short answer is that you shouldn't pay for everything in installments! It simply isn't a wise financial decision as there are some disadvantages of doing it. With that being said, certain purchases are better when you split them up. 

Today, you'll see the financial pros and cons of installment payments, so you can start understanding when it's a good idea to use this method, and when you should just pay in full. 

Pro: Easier to factor into your budget

A huge advantage of paying in installments is that you can factor them into your budget with ease. Instead of dealing with a huge chunk of cash leaving your account in an instant, you will have smaller chunks leaving periodically. You can then look at how much you have to pay and make adjustments to your budget as you see fit. In a lot of cases, it is easier for you to afford a purchase like this. Losing lots of money in one go can make your budget fall through the ceiling and come crashing down. You don't have enough money in your account for a few months until things start getting back to normal. 

Con: Can sometimes be more expensive

Depending on how you pay for the product, it can be more expensive to use installments instead of buying it all in one go. This is because some finance methods will charge interest rates and additional fees that set your purchase at more than its original price. Typically, this happens when you take out a loan for the purchase, though other finance methods can also work. It really does depend on how you are purchasing the product and where you're purchasing it from. Some websites will let you split the payments across a few months with no interest fees at all. Just be aware that you can sometimes pay more for something just by option for this approach. 

Pro: Helps you buy expensive essential items

Another financial benefit of installment payments is that it lets you buy things that would otherwise be too expensive for you to purchase. More to the point, you can buy essential things that you need in life. Two examples of this are houses and cars! Head to a mortgage broker and you will be able to get a loan that basically lets you pay for a house in small chunks every month for many years. This makes housing more accessible as most of us can't fork out hundreds of thousands of dollars all in one go!

The same goes for cars - another expensive purchase that we deem essential. Some of us can't afford to spend a few thousand dollars in one go for a car, yet we need one to transport our family around. Nowadays, places like Bokan Auto Center offer car finance options that let you pay in installments. Again, you have access to something that you wouldn't be able to afford if you bought it all in one go. 

Con: Can be bad for your credit score

As a financially responsible adult, your credit score should always be at the back of your mind. A credit score is crucial as it deems if you are creditworthy and tells companies how responsible you are with your money. You need a good one to be approved for mortgages and loans, but companies also check it when you are applying for subscription services. For instance, if you are getting a new smartphone, the provider will want to check your credit score to be sure you are capable of paying the bill every month. 

The problem with installment payments is that they can be bad for your credit score. However, there's a big caveat here, this is only the case in certain scenarios. Failing to make payments on time will give your credit score a hit, but having lots of installment payments for different things also harms it. It shows you're taking too much credit and have lots of debts to clear, which will make your score suffer. Nevertheless, it's not all doom and gloom, as the final point explains. 

Pro: Can be good for your credit score!

Yes, paying in installments can be beneficial for your credit score when you do things correctly. For instance, you need to make your payments on time every single time. Don't miss payments and it shows credit companies that you are capable of paying things on time and can be trusted. 

Similarly, don't pay for too many things using this method. Avoid financing too many purchases with loans to reduce the amount of credit you borrow. This prevents your score from being negatively impacted and ensures that you get the benefits from paying for things on time every month instead. 

Conclusion: When should you buy things in installments?

In summary, installment payments can be good and bad - it depends on the situation. Generally, paying for things in full will be the best approach to making purchases. The best time to utilize installments is when you are buying something very expensive and it will have a huge financial impact if all the money left your account in one go. Houses, cars, appliances, educational courses, and even home repairs are all great examples of where splitting the payments makes sense. 

Finally, be cautious about how many things you finance in one go. Ideally, it is better to pay one off before adding others, so you protect your credit score. 

Read more

  • July 19, 2021

Not everyone has the same opportunities in life. It isn't uncommon for people to end up going in a completely different direction than they planned. For example, you may have spent your youth dreaming of becoming a successful defense attorney, only to end up looking for gigs as a self-employed handyman. A noble job, but far from the most exciting. But it's never too late for a career change, and following your passion is always possible.

Not all careers with a high salary and more responsibilities than usual require a degree-level education. Most require further education but stop short at higher attendance at a university for a prolonged period. These jobs usually revolve around support for specific sectors such as medical, legal, and technical. For example, many nursing careers don't require a degree, and some healthcare jobs require vocational training rather than a degree.

Some examples include:

  • Non-Doctorate Health Care
  • Paralegal Careers
  • IT and Technical Support
  • Nutritionists 
  • Emergency Services

Not all healthcare workers are doctors, and the health system relies on an army of trained staff. Similarly, the legal profession requires a vast amount of specialized support teams who aid in case preparation and administration. The IT sector comprises highly talented and dedicated personnel across network administration and cybersecurity. Still, tech support is a great starting career with plenty of advancement opportunities. Fitness professionals such as nutritionists can find plenty of employment in today's health-aware world. A passion for helping people is a requirement of working for emergency services.

Non-Doctorate Health Care

The medical profession is indeed filled with highly educated and dedicated individuals. Many study at college and university as well as a medical school for their chosen field. However, you don't need to earn a degree to find a significant career in the medical field. In fact, numerous positions don't require a doctorate, such as dental hygiene, radiology, and hearing specialists.

For example, similar to what audiologists treat but not quite the same, hearing instrument specialists (HIS) provide healthcare for the ears. Specifically, HISs are trained in hearing assessments and the design and fittings of hearing devices. In addition, they can perform various tests to decide what hearing aids you need, and fit and program them. For the most part, you become a HIS with diplomas, training, and licensing, but you may not require a degree education. 

Paralegal Careers

Everyone knows what a lawyer is and what they do, but you may not be aware of the army of trained and skilled individuals around them. As a paralegal, you can land a job at a reputable law firm and assist with all manner of legal procedures. This includes discovery, administration, case preparation, and investigation. Liaising with clients and preparing for cases is also a large part of the job. Therefore establishing trust is essential.

Landing a job as a paralegal usually doesn't require a university education degree, but higher education is needed.  College vocational courses are sufficient for most paralegal roles, and you will study for around 2 to 3 years. However, paralegal jobs are incredibly stressful, and burnout is common. Additionally, the work is challenging with high stakes should you make a mistake. Therefore accurate and prudent work is vital.

IT and Technical Support

IT and technical support have never been more critical in today's world of computers, computer systems, and interconnected devices. The sector covers a wide range of careers. However, all but the most challenging can be landed without degree-level education. IT support is a demanding job, but most people are more technical than they are aware of, especially the younger generation that has grown up with modern devices. Devices such as the internet, smartphones, and tablets.

But IT doesn't only extend to computers, phones, and laptops. You can land a very lucrative job as a network administrator with the proper training or knowledge. These skills can then be applied to other sectors such as process automation and cybersecurity. Suppose you are already knowledgeable in IT systems. In that case, you can apply for IT jobs, as the industry is more forgiving than others when it comes to employment. For some roles, you need only to demonstrate your skills. 

Nutritionists

More than ever, people are more aware of the problems associated with poor diet and exercise. As such, owing in part to the web, nutrition and exercise are becoming more common. In response, people are beginning to eat healthier by reducing calorie intake, reducing harmful sugars, and staying away from trans fats. Suppose you have a passion for advising people on how to eat better and heal the body. In that case, you could have a promising career as a nutritionist. 

As a nutritionist, you are legally allowed to advise people on the dangers of unhealthy eating and how they can eat healthier. You can also use scientifically backed evidence to formulate health plans for clients. It is possible to become a nutritionist without a degree. However, you cannot be registered with any medical boards. Additional education is required for this. You can legally call yourself a nutritionist and begin a business as long as you do not claim to be medically trained or act as such.

Emergency Services

One of the noblest things you can do is dedicate your life in service to others, such as with emergency services. Most emergency services require extensive training. However, for most roles within them, no formal education is required. This means that you can apply for emergency service roles without a degree-level education. This is because most services will provide all the training you need for your career.

Almost all emergency services provide training, and you usually either don't have to pay or will pay at a discounted rate. In fact, some services will pay you as you train, as is the case with paramedics in the UK. Also, firefighters and police are both excellent professions for which you need no formal education. And the roles within vary. Both also require administration, IT personnel, call handlers, and on-call medical staff to support the emergency services infrastructure as a whole.

Read more

When You Decide To Buy A House Remember This

  • July 19, 2021

When You Decide To Buy A House Remember This

It takes a lot of time and energy to buy a house, from seeing the dream house, meeting with mortgage brokers, signing the paperwork to moving in. The simplified process of buying a house follows below, it is easy to manage and will assist you to make the best decisions. 

Read more

Loan Calculators & Everything to Know About an Unsecured Consumer Loan

  • July 18, 2021

 

Ever heard of an unsecured loan? If not, this article will share some important insight about this and how it can help you in achieving your life's goals. The term “unsecured loan” may sound daunting, but it is not. The reason it is known as this is that, unlike other loans that anyone is trying to borrow, this does not require any collateral. It is also known as a “signature loan”.

Within the context of financial borrowing and lending, “collateral” refers to a type of protection against a borrower’s amount, in cases where they cannot pay back the loan. It can be anything from a car to your property mortgage. 

The approval of an unsecured loan is usually done through creditworthiness. If you have good credit, chances are you will have a better chance of securing an unsecured loan. These can be anything from credit cards to student loans and personal loans.

An Unsecured Loan - How It Works

In most cases, the terms of the agreement will include a receipt and approval thereof. The borrower's credit score will determine whether their loan is approved or not. If you do decide to borrow this specific type of loan, you must be sure your credit score is up to mark. 

This is however not a restricted term. In some cases, borrowers will allow lenders to borrow money even if their credit scores are low. It involves taking on a legal obligation to fulfil the terms and conditions, in the case where they fail to repay the interest rate or any unforeseen debt.

Due to the higher rates of return of an unsecured loan, the lender cannot claim any property or collateral, so the interest rate makes up for that. If in extreme circumstances repaying the loan is not possible, it may be taken to court for decision. 

Different types of Unsecured Loans

A loan of this type can include anything from a credit card to a personal or student loan and they can be set on specific terms or a revolving basis. If it is a revolving type, it would most likely have a credit limit that can be spent, repaid, and spent again.

An example of this type of credit is a credit card. In contrast to a term loan, the borrower will repay the money borrowed in installments agreed upon by both parties, and usually, the full amount should be repaid at the end of the term. 

Other examples of unsecured borrowed money are a consolidated loan or a loan from a bank, both based on unsecured terms.

Peer to Peer Lending

This is a type of relatively new form of lending that has taken precedence over the past few decades and allows people to borrow money directly from other individuals. Thus, it removes the need for a middle man or a financial institution: https://www.investopedia.com/terms/p/peer-to-peer-lending.asp this form of lending is also known as “crowdlending” or “social lending”. 

In recent years, however, the unsecured option has increased in demand because of its convenience. 

Payday Loans

There are some alternative lenders that individuals can also tap into, these are the payday loans options. There are also the alternatives of payday lenders which offer alternatives such as cash advances. These are different types of loans that are also not secured by any collateral, however, do seek other ways of securing their payments to borrowers.

This can be in the form of an automatic withdrawal or a post-dated check. To pay back the loan the automatic withdrawals would be deducted from the borrowers checking accounts. 

When considering how to calculate the loan you borrow you can use a tool such as a personal loan calculator available from specific all-inclusive websites that have cost comparisons from different lenders, for example, the forbrukslån.no - billigste which is one of the portals that offers various options from Norway’s brokers and some of the largest banks so you can compare the costs involved and decide on the best deals available. 

These resources can give you information regarding the loan amount you want to borrow as well as the period in which you can pay it back. The breakdown will give you the monthly amount you need to pay back based on your age and other relevant information. 

The important thing here is to compare the numbers from several different establishments, as the chances of only applying to one bank will dilute your borrowed funds and if you do not get approved, you may miss out on some of the better options available to you. 

What To Know When Comparing Different Lenders

You have decided to borrow from different lenders but have no idea how to go about doing this. First and foremost, ding your homework for such an important aspect will take some time, as there may be some back-and-forth communication, to get the right information, involved. There are a few important things to consider, we look at some of these below.

Find Lenders that do not necessarily have hard credit inquiries when offering loans.

Sometimes, with most financial institutions and agencies, there may be a hard line of credit enquiries once a credit report is analysed. Applying for financing when your credit score is not up to par, may hurt your overall score even more. This result can reflect on your report sometimes up to 3 years. It may hinder you from getting pre-approval for any money you borrow for that time limit. 

Finding out the rate and terms of the loan in advance is a good idea. The best way to do this is via a comparison tool. The only basic information you may need to provide for the most part is your “ellevesifret” social security number if you are in Norway.

3 should be the minimum

When looking around, make sure you get a quote from at least 3 different vendors. Because there is an assortment of so many different services out there, it can be difficult to choose only one, which is why having 3 should help you narrow down your search. There are also different aspects to consider, for instance, repayment deadlines, fees, terms, interest rates, and more. 

If you can get more, even better. If choosing from online banks, they often may have better qualifying chances and lower rates, however, check that the overheads are just as minimal as well.

Compare like for like

Always choose those services that are the nearest in similarity with one another. Do not compare, for instance, choose those that are offering monthly payments over a set number of months or years and compare them with the same time frames.  Also, you can check if all 3 are offering a fixed-term loan or some other kind as mentioned above. there is no point in comparing different types with different offerings, as you will not be able to choose the right one.

Besides this, make sure you read the fine print on all the paperwork you are given. Even if it means taking it home and looking through it properly. Comparing these types of loans, the right way will save you a lot of time and hassles, and comparison websites are one of the best places to start looking. Always make sure you ask the service all the questions you need to, to help clarify things, before signing on that dotted line. 

Read more

Is Acre Gold Legit? – A Look at Your Investment Options

  • July 16, 2021

Gold is perhaps the best and most popular precious metal available. It is used for a lot of things including as a form of investment. It also has relevant uses in the jewelry-making industry, in medicine, in construction as well as in making electronics. 

It is a very valuable commodity and it provides a way of amassing as well as preserving wealth. Investing in gold is typically less of a risk as it is a safe long-term investment. It has a strong economic value and may serve as insurance against inflation, depreciation and other market forces. You can see its various uses here.

To invest in it, you have to buy and store it or you trade with it. You may buy it as a physical asset via bullions, bars, or coins. You may also trade in futures or purchase shares of funds that trade and replicate its price.

As an investor, you should consider the options that are available in your market. You should also consider the best type of investment that is relevant to your circumstances. Added to this, consider the kind of professional advice that the investment type you choose will require.

A Look into Gold Investment Options

Deciding the best method of investment to use involve reviewing the various investment vehicles available. Each one has different returns, risk levels, liquidity characteristics as well as fees. Below are the various options with which you can invest in gold.

Physical Gold

This is also referred to as bullion. These are bars of gold and may include coins. It can also be purchased via jewelry. Bullion bars come in various sizes that range from one quarter-ounce to a brick of 400-ounce. 

Coins are usually the option for a lot of new investors. Most buyers often stick to the widely circulated ones for maximum liquidity.

Buying these physical assets is the most exciting but equally the most challenging way of investing in the commodity. This is because you have to find ways of storing as well as selling them. Also, appraising jewelry can be complicated even when over time, it has accumulated value. 

Funds and Exchange-Traded Funds (ETFs)

Investing in gold mutual funds and ETFs can offer you exposure to its long-term stability. It also offers you better liquidity and diversification than the physical commodity or individual stocks.

Different types of funds are available. While certain ones are passively managed and track the price of bullions and industry trends, some are actively managed. Actively managed funds typically aim to beat the returns of the passively managed ones but they often come at higher fees.

Keep in mind that with mutual funds, you are not buying actual gold but papers. These are backed up by futures and options agreements or equity of mining companies. This type of investment is great for investors that are interested in low-cost entry into the market and desire more liquidity.

Furthermore, the value of funds and ETFs generally do not match up with gold’s market price. They rise and fall quicker due to a variety of factors making them carry much higher risks than the physical commodity. You may learn more about ETFs here https://www.thebalance.com/gold-etf-what-you-need-to-know-1214748

Mining Stocks

Another option to invest in this precious metal is to buy the stock of a mining company. This is much more straightforward but also has inherent risks. The shares of the company may not necessarily correlate with the market price of the commodity. It will also be based on the performance of the company.

Although you have control over the company you invest in, if they fail, there is no security of possessing the physical metal. However, you have an asset you can aim to sell at any given time.

Futures

These are contracts to buy or sell gold at some future date. This contract is what is traded on the exchange. Futures are more liquid than the physical commodity and there are no management fees. However, a trade fee is charged for each contract.

Bear in mind that trading in futures carries huge risks. It is therefore not suitable for inexperienced investors as you might even lose more than your initial investment.

Companies That Enable You to Invest In Gold

Different companies offer all the services above. One of these companies is Acre Gold. These types of companies aim to make investing in precious metals affordable and easy.

Acre Gold is relatively a new entrant when it comes to the industry. As such investors can be skeptical and want to know if the company is legit. You can read this Acre Gold review to get an answer to this.

Conclusion

Precious metals like gold do not only provide a way to make money, it helps investors to hedge their funds against inflation. There are several ways you can invest in this commodity and different companies like Acre Gold provide services to help with this.

What you want to be sure of is that the company you are dealing with is legit. To know this, you have to do your research, ask around and read third-party reviews.

Read more

Types of Carsharing Services

  • July 15, 2021

Most large and busy cities worldwide are adopting car sharing services due to their numerous benefits. Many entrepreneurs are adopting the trend. An example is a car sharing Phoenix. Due to its individuality and flexibility, different types of people use car sharing services every day. They include:

Multitaskers

These types of users have so many errands to run and want to avoid public transportation. They may need to shop, pick up the children from school, visit relatives, and pick up clothes from the dry cleaner. Car sharing offers a lot of flexibility in doing all the activities.

Business people

Car sharing offers them easier and cheaper options of traveling from one city to another. These types of users can arrive at meetings on time using their suitable preferred vehicle.

Urbanites

Mainly includes young women and men who don't want to own a car. Ownership comes with its costs, and many millennials are saving up, or they don't want to own a car. They may either use bicycles, car sharing services, or public transportation according to their needs.

Weekenders

Mostly, trips into the city are reduced, and parking can be difficult on the weekend. Car sharing services allow you and your friends to select a small-sized type of car that can fit into any parking space.

Tourists

Car sharing provides a great alternative for people touring a new city or town. Additionally, they can key in the coordinates to the car's computer and arrive at various destinations without getting lost.

The two types of car sharing services are traditional, where the company owns the cars. The second is P2P (Peer-Peer car-sharing), where one rents the vehicle from lenders and private car owners. Examples of traditional car sharing services are:

Examples of P2P car share:

  • Getaround
  • Turo

Each car sharing service has its benefits and drawbacks. Generally, the Zipcar is more available in more cities as it has been on the market for the longest time, since 2000. Additionally, it’s available in many airports and offers a variety of vehicles to select from. Turo offers lower weekly and daily rates compared to other car sharing services.

Moreover, one must consider availability. Companies with few cars will frustrate customers, while those with many cars will have higher costs passed to users and less utilization. Car sharing companies must find a balance between service and commercial demands. Several other factors have hindered the growth of car sharing. They are;

Geographical coverage

To increase the user base, companies must be willing to support the growth by increasing the coverage. Car sharing users want to maximize in a bigger geographical area. P2P car owners may also decide to expand into other cities to satisfy the demand.

The apps and websites

The technology supporting car sharing must be reliable and accurate. Customers don't want to order a car being shown on the map, but it is not there in reality. Companies and peer organizations should be willing to invest in IT experts as well.

Access to support

Additionally, companies must be willing to invest in training qualified personnel to help in support services. No customer on a 2-hour journey wants to get stuck on the road for 30 minutes waiting on the phone to report some car damage.

Demand

People tend to demand car sharing services of similar types at the same type. The demand for these services varies depending on the time of the year, month or day. For example, during holidays, rush hours, and school runs.

For entrepreneurs willing to venture into this type of business, there are many opportunities in this business field. Also, one may decide to rent their car out to enjoy a passive income.

Read more

Why You Need To Be Organized When Running A Business

  • July 15, 2021

Why You Need To Be Organized When Running A Business

When you run your own business there is a lot to think about and organize in order for it to run smoothly. Keeping on top of all these aspects will certainly help so that you are not overwhelmed and stressed by trying to complete everything at once. When you first set up your business, if you can have as many processes all set up and ready to go, this will help you in the long run. 

Read more

5 Best Financial Choices in Your Life

  • July 15, 2021

5 Best Financial Choices in Your Life

Everyone wants to make the best decisions. You may not always know what those are, but you must do your research and choose what will benefit you long-term. In this blog post, you will find some of the most important financial choices you can make in your life. 

You don't have to be an expert on money or finances to learn from these tips - they're written for anyone who wants more security!

Read more
>