Managing Your Finances Can Be Hard: Here’s How To Do It Right

June 11, 2021

Managing your finances does not mean making your ends meet. Also, it does not mean being good at math but controlling the movement of your money from your accounts. With good financial skills, life can be much easier even when you are not earning much. With good management, you will improve your credit score and avoid money issues that arise between paychecks.

In most cases, when managing your finances, you have to be conscious of your spending. You don’t have to assume everything when spending your money. For instance, you can’t consider affording something when you can’t buy it in cash without affecting your regular budget. Here are some approved ways you can manage your money better.

Contribute to Your Savings Regularly

Most people usually fail in the savings part. For this reason, we have put it as the first point, to emphasize its effectiveness in managing your finances. It is important to start depositing money into your savings account at least every end month to create healthy financial habits. You can choose one of the best savings accounts to deposit part of your income for future needs. If you find it hard to deposit the money, you can schedule part of your income to be deposited in your savings account directly. For students, it can be especially hard to set up a student budget guide but not altogether impossible. In most cases, you should set a percentage of your payment for the savings rather than saving what remains from your spending.

Limit the Credit Card Purchases

Most individuals who use credit cards are bad spenders. After running out of cash, they will turn to credit cards without considering if they can comfortably pay the credit. They will end up paying for something, even when they did not have it in their budget. If you want to manage your finances well, you should resist the urge to use credit cards, especially for purchases you cannot buy in cash. For instance, you should not use your credit cards to take someone out for dinner or buy things you do not urgently need.

Save Up for Bigger Purchases

Delaying purchases can help you greatly in managing your finances. It is important to put off larger purchases and save money for them, rather than buying them immediately, which affects your finances. Deal with the essential first, and then give yourself time to evaluate if you need the bigger purchase. When you find the item necessary, start saving for it and only buy it when comfortable enough with the finances. When you save, you avoid hurting your budget with huge purchases. It also prevents you from paying interest if you had picked the item on credit. Saving without skipping obligations and bills also enables you to avoid the consequences of missed or late payments.

Do Not Commit Yourself to New recurring Monthly Bills

If you are currently paying a mortgage, you might also be paying for electricity, water, and other monthly bills and loans. Even when your salary or status qualifies for another loan, you should not take it unless you reduce some of your monthly bills to cater for the new addition. You should not add another expenditure to your salary as this will mean having an extra strain on your income. Most banks base their loans on salaries. They might give you a loan until the last penny if you like, but this won’t be a good idea for your finances. Ensure you have bills and loans you can comfortably service and have something for your savings account.

Create a Budget

Failing to come up with a good budget for your income is a step that leads to a financial crisis. You won’t manage your finances well without a good budget. To create an effective budget, come up with your expenses versus your budget and stick with making purchases. Not only should you come up with a reasonable budget, but have one that will add value to your life. Remember that savings should also be part of your monthly budget. Lastly, try as much to avoid spending on things not on your budget.

Track Your Spending

After creating your budget, you should track and keep notes on how you spend your money. It would be best to track the spending versus the budget to see the overspending areas and their reasons. You can create a folder on your computer to save your receipts while also coming up with a template showing your income and budget versus the expenditure. When you do this, you will see yourself keeping track of your finances.

When starting the above procedures, some might seem hard to implement, while others become impossible. However, it would be best not to give up. With time, you will find everything becoming manageable. The more you manage your finances, the more you will limit spending while increasing savings.

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Getting Your Finances in Order Before Retirement

June 11, 2021

As your golden years are approaching, you’ll want to make sure your finances are in order. This will ensure you can make the most of your time of rest and relaxation without pinching the pennies. While everyone’s relationship with money is different, there are a few essential steps you can take to make your retirement as comfortable as possible.

Top Up Your Pension

Depending on how many years you have before retiring, you may want to top up your pension if it’s not quite where you want it to be. Make sure you know exactly how much you have and spend some time tracking down any lost pensions. You may even decide to switch providers to suit your needs. Wealthify offers an easy way to bring all your pensions together, giving you better visibility and easier access – check it out today.

Create a Budget

Now that you know how much you have to work with, it’s time to plan how you’re going to use that money wisely. While you don’t need to keep an incredibly strict budget, you should calculate expected monthly costs. It’s okay if some years use more of your funds than others, but you should be aiming for balance in the end. For example, if you decide to travel extensively at the beginning of your retirement, you may need to live more simply for a few years after to make sure you don’t deplete your pension pot too quickly.

Play it Safe

If your retirement is approaching soon, you might be tempted to try and boost your funds if you haven’t saved as consistently as you’d planned. But it’s important not to risk your savings at this stage, as you could end up having very little to live on. High-risk investments may hold the promise of incredible rewards, but remember you stand to lose everything you’ve worked for. Hold onto what you have and look into low-risk ways of increasing your bank balance.

Take Care of Debts

The last thing you want is debts eating into your pension fund when you’re retired. But clearing debts is easier said than done. If retiring completely debt-free isn’t on the cards for you, make sure you’ve negotiated the best repayment plan for you and pay close attention to interest rates. However, if you do have any spare cash in your savings account, it might be worth clearing a few debts if you can’t manage all of them.

Consult a Professional

If you’re struggling with organising your finances before retirement, whether that’s because you haven’t saved enough or have a lot of debts, an advisor can help you plan the best course of action. They can not only help you to make wise investment choices, but can help you to plan and budget so that your money goes further. If you already have holidays planned, make sure you let them know so that they have a complete picture of your outgoings. It’s never too late to ask for help, so if everything is happening last minute, that’s all the more reason to reach out.

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The Gamification of Trading Apps and the Case for Regulation

June 11, 2021

The stock market headlines of late have been dominated by the newly nicknamed “too the moon” surges in the share prices of Gamestop, BlackBerry, AMC, Nokia, and Bed Bath & Beyond, amongst others. But what is behind this phenomenon and what might the implications be for the Securities and Exchange Commission (SEC) and other government regulators?

“David v Goliath”

What ostensibly started out as an attempt to “democratize” equities investments snowballed into a “David v Goliath” affair as professionals who had placed bets on a stock to fall were suddenly forced to buy the stock to cover their losses when the price rallied.

These “meme investors” using many mobile-friendly applications such as Robinhood and WallStreetBets have flocked to buy stocks that professionals such as Wall Street hedge funds were shorting, or betting against. Buyers of the stocks—typically younger retail investors using online trading platforms—have fanned their enthusiasm for their unusual positions on social media platforms such as Reddit, TikTok, YouTube, Discord, and Telegram.

Amateur Investors + Stimulus Checks + User-Friendly Apps

The founder of a large US-focused, technology biased, large capitalization, long-short equity fund, Dan Niles, qualified the new-comers as, “Traders armed with stimulus checks. They can organize more easily on things like WallStreetBets, they can work from home, and there’s no-cost trading,” he said.

By not charging an upfront fee, many online platforms are making investing more affordable and easier for everyone, and what is more, they have found a way to make it enjoyable. Many user-interfaces have a videogame feel to them, with graphically stimulating visuals and social-media-like interactions.

Lawyer Sean Burstyn, speaking at a panel discussion hosted by Thomson Reuters, argued that this kind of gamification is emotionally manipulative and might encourage reckless behavior: “There are psychologists behind all of these tools, they’re made to be addictive. It’s no different than any social media sites that we spend a little bit more time on than we want,” he said.

Meanwhile, a new battleground in the “war” is already being drawn as the Securities and Exchange Commission (SEC) prepares a report addressing the issues raised by the GameStop episode, and chairman Gary Gensler has said that there may be a need for new rules for brokerage apps that turn stock trading into a game or contest, reported the New York Times.

Paul McCurdy, also speaking at the Thomson Reuters debate, referring to the David and Goliath effect, speculated on further legislative and regulatory involvement: “It’ll be interesting to see if one of the 50 states weigh in on it and come up with whatever they are going to regulate,” he said.

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7 Highly Recommended Ways to Encourage Personal Growth and Development in the Workplace

June 11, 2021

Sometimes when you’ve been doing the same job for a long time, it can be hard to feel like you are growing. Both personally and professionally it is easy to get stuck in a rut. This article aims to give you six highly recommended ways to encourage personal growth in the workplace.

Make a Detailed Plan

The first thing you need to do if you want to develop as a person is to make a plan. Without a good plan for how you want to grow and in what way, it will be hard to monitor your progress. As mentioned on learnerbly.com/personal-development-plan-template, sometimes all you need is a good plan to make your dreams a reality. If you are looking to stimulate some personal growth in the workplace, make sure you get yourself a good personal development plan.

Become a Key Part of Your Network

To paraphrase an old saying, you are only as good as the people you are closest to. Although this is meant to apply to your social circle, it applies to the workplace as well. Take part in your company’s networking events and make sure to check in on people whilst you are at work. Building up these relationships will naturally let you grow as a person and help show your colleagues how invested in the company you are. This shouldn’t be too difficult of a task, you’re basically just making better friends at work!

Find a Mentor

This one is a little more involved but goes hand in hand with your development plan. Try to find someone who wants to help you, but who is perhaps outside of your management line. Your boss is sort of a natural mentor, but you should have someone who you don’t work for mentoring you. Share with them your development plan and they can be an impartial judge on your progress. Find someone who makes you feel comfortable and that you respect. Having a mentor is a great way to encourage personal growth in the workplace.

Take Regular Exercise

This might not seem like an obvious way to develop as a person but taking regular exercise will help you in many ways. Exercise can help you destress and make you more focused, which should make your time at work more enjoyable. It will also give you more energy over time and mean that you’ll be less tired whilst at work. Exercise can also help you sleep and is a great way to take your mind off other things. This will help you become a better person in general and help your growth in the workplace.

Eat Healthily

For similar reasons to taking regular exercise, eating healthy is going to give you many benefits at work. As well as remaining energized, with the right diet you and just feel better in general. Constantly going from sugar-high to sugar-crash is going to make your work erratic. As a bonus, your colleagues may notice that you are eating well and subconsciously think of you as a person who takes care of yourself. This promotes the idea of responsibility and may make you more appealing for promotions. Eating healthy will make you feel and work better.

Ask to Take on More Responsibilities

One of the best ways to encourage personal growth is to take it into your own hands. Asking to do more things, learn new skills on the job, take on bigger responsibilities will make you develop in your work life. Showing that you want more responsibilities at work shows that you want to move up the ladder.

If you want to grow as a worker but reject offers of work that require you to have more responsibility, your bosses are going to assume that you don’t want it. Try not to be taken advantage of or you might end up doing multiple people’s jobs, but express interest in taking more on, where appropriate.

You Got to Keep Growing

Working at a company for a long time can be great. Being able to build strong relationships with your coworkers and having loyalty to the company is a good feeling. Sometimes, you can get stuck in a bit of a rut with no clear way forward.

To encourage your constant personal growth and development you should; make a plan, become a key part of your network, find a mentor, take regular exercise, eat healthily and ask for more responsibilities. If you can manage to do these things then you can be sure you’re on the right path for your workplace growth and development.

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5 Reasons Why Guest Posting Is Valuable For Local Businesses

June 11, 2021

One of the main goals of every small business is to make a profit. As a result, businesses tend to implement various online marketing strategies such as local SEO. But do you know that there are other effective unconventional approaches such as guest posting?

Guest posting allows you to win your targeted audience’s trust, contribute to other blogs, as well as spread your brand’s image. Although it requires much effort and time, guest posting offers several benefits both for you and your local business.

In this article, we will be sharing five (5) reasons why guest posting is valuable for your local business.

1. Adds to your authority

When you include guest posting in your marketing campaign, it helps add to your blog’s authority in your chosen niche. Even though becoming an authority in a particular niche can be pretty tricky and require a lot of time, guest posting service effectively speeds up the process. Even more, it helps to boost your site’s credibility by leveraging other well-established blogs.

That said, by consistently posting on other blogs, readers start to become familiar with your blog, and as a result, they begin viewing your site as an authority in that field. What’s more, once your site becomes an authority, it gives you the capacity to compete with bigger and more established brands, leading to more patronage by local buyers. The simple reason is that you become a reliable and trustworthy authority closer to potential clients.

2. Drives More Traffic

One of the important reasons why guest posting is important for your local business is that it helps to send top-quality traffic to your blog or website. It achieves this by building your brand’s influence through your unique content on the various platforms you guest blog.

It is important to note that the quality of traffic you get depends on your guest post’s websites, as most guest posting sites allow you to include a link to your blog or site.

3. Increases Your Social Media Network

Another importance of guest posting for your local business is that it helps to boost not only your post’s activities such as comments, likes, and shares but also increase your followership.

When you contribute to other blogs, it makes them vouch for you hence makes you look reliable and reasonable before your followers. More so, you can also include links to your various social media handles for easy access. This helps you win more audience.

4. Networking Opportunities with other local businesses

This is one great way of connecting with other local businesses, leading to better partnerships. When you guest post, it increases your chances of sealing deals with other companies hence increasing the growth of your business.

It is worthy of note that global businesses are also looking for local companies to partner with. As a result, guest posting allows you to be noticed by such companies, thanks to the awareness and credibility generated.

5. Improved visibility for your Business

Even though guest posting increases your authority and influence in your chosen niche, it does not stop there as it also helps boost your SEO strategies.

Even more, when you have top-quality backlinks from blogs that have built authority, it translates to a better ranking for your local business website. As you may also know, people tend to click on top ranking sites hence increasing your site’s traffic and conversion rate.

Conclusion

All in all, guest posting plays a critical role in the growth of your local business. It does not only help you build authority and increase your online presence or benefits your local business to develop profitable partnerships and increase your social media interactions.

If you are looking for ways to improve your local business, you can use our guest post outreach service for a guaranteed increase in lead and sales.

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6 Tips For Easy Investing In Gold In 2021

June 10, 2021

The gold market has existed for years, and it has always been pretty stable. It does not fluctuate as much as other assets do, and it doesn’t take much of an economic shock to cause gold to go up or down. Gold also has a high liquidity premium, which means that a certain percentage of gold is bought and sold regularly, but not all of it. So gold, like a stock, is an asset that can give you a return. A share, however, has a much more volatile value with the potential to lose a lot of money. At the same time, a stock’s value can increase considerably. However, a gold coin has a value that is unlikely to fluctuate much, and the value is stable. That gives gold its appeal.

Why Invest In Gold?

Gold has many benefits, but one of the most common is that gold has always been one of the most popular investments over the past four-and-a-half millennia. Gold was one of the first commodities to be traded and was instrumental in financing the development of the Roman Empire. Gold is a non-fiat investment option. The value of gold is not guaranteed by a government or an agency, and banks or other financial institutions do not back it. It is, however, a prevalent option for investing. You might be wondering how to invest in physical gold so that you can increase the value of your wealth. Well, with a gold certificate, you have the option to trade in your gold and receive cash from the bank. But you still have the choice to hold onto the physical gold as an investment. Nevertheless, it would help if you looked at gold as a way to preserve your wealth rather than as a method to increase it. It will protect you from fluctuations of currency and political crisis.

Benefits Of Gold Over Other Investment Choices?

Throughout the years, many have relied on gold as a reliable investment. It helps diversify your portfolio and can be conveniently stored in a place other than your home, such as in your safe deposit box. In addition, gold’s value does not fluctuate with the stock market because it is a non-correlated asset.

Reasons To Invest In This Precious Metal

There is money in gold: A key promise of money is that it can be held over time as a store of value. Fiat currencies cannot fulfill this promise as well as gold. Gold has stood the test of time compared with all other assets and will continue to do so in the future.
It’s a non-esoteric asset: Gold is an actual item that you can touch and feel and see. This tangible asset has a distinct advantage over other asset classes in that it cannot be hacked or deleted by another person.
Has no middleman risk: You are not reliant on a middle or counterparty to access or trade your gold. You might need to use services in some instances, but for the most part, you are protected by the fact that you can physically keep the gold and trade it whenever you want to.
It is confidential: Compared to other investments, you can choose to keep your purchase anonymous. While you will still need to pay the correct taxes for legal reasons, no one needs to know that you own this asset.
Easy to maintain and hold: When you compare gold with real estate, there is virtually no sot in maintenance and storage. Even if you decide to store it in a special vault, the fees are often low.
No special knowledge is required: you can buy gold from a registered seller and ensure you have the real deal. Verifying the authenticity of the document can also be done simply. Unlike stocks, you won’t have to keep up to date with financial markets or learn how to trade.
Defends against politics: Governments tend to pursue enforcement more aggressively to raise revenue in economic and financial crises. For instance, they could stop you from withdrawing your own money in a run on the banks. Gold is more immune to these kinds of actions.
A hedge against stock market losses: It is a historical fact that the price of gold increases whenever the stock market crashes.

Tips On Buying Gold

Having established the benefits of buying gold as an asset, you should know how to invest in it.

1. You Must Have Direct Ownership

If you cannot hold your gold, you don’t own the gold. That is an old saying when buying this metal, but it can keep your investment safe. Therefore, in choosing a gold storage company, you need to make sure that you are the owner of the gold and that your gold can never be pledged, hedged, or leased by the company.

2. Consider Futures

Gold futures are one of the most specific commodities you can trade. Buying and selling them is an easy way to trade gold without having to do anything too complicated. Trading gold futures comes with a lot of options, but there are two main ones:

Bullion (physical metal).
Contract (paper contract).

Both can be purchased with a long-term investment strategy, but the futures contracts are also suitable for day trading.

3. Build Up Liquidity

Gold investment is both a means of accumulating savings over time as well as an insurance policy. However, this is not a vehicle for trading. Make sure that instead, you purchase the gold and then put it aside for times of crises. By keeping it in liquid assets, you will be in a far better position to trade it when the time comes.

4. Use Savings To Buy It

As you will be buying gold as a store of value and a hedge against uncertainty, you will need to buy it with existing cash. If you take out credit to purchase it, it will not belong until you have paid back the credit. Moreover, you will end up paying more when you factor in the interest that comes with credit.

5. Buy A Mixture

If you want to maximize your gold investments, you should purchase a mixture of gold assets. This can range from bullion bars to gold coins or jewelry. The idea is to have smaller amounts nearby when needed.

6. Stay Within The Law

Buying small denominations allows you to remain anonymous and not reveal your personal information, which is a fully legal process. Even more security and privacy are provided by buying small amounts at a time. Nevertheless, once you purchase more significant amounts, you will often need to declare your reasons and pay any relevant taxes.

Gold is a popular investment due to its scarcity, durability, and beauty. Unfortunately, many people are not aware of the gold market, and new investors lack knowledge on the subject. Knowing about gold investing’s fundamentals will help you take advantage of its benefits.

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Colbeck Capital Management Takes A Brief Look at the History of Tax Reform

June 10, 2021

When Benjamin Franklin said that nothing was certain in life but death and taxes, he was clearly correct. Taxes are a certainty almost wherever you live but particularly in the United States. From tossing tea into Boston Harbor to corporations sheltering billions in offshore accounts to avoid paying their share, America’s history with tax reform is as fascinating as it is tenuous.

An exploration of the complicated history of tax reform in the U.S. can give us a better understanding of how and where we find ourselves with taxation today.

Regressive Taxation and Social Justice

The origin story for taxation in the U.S. begins in the first century of the nation’s existence. During this period, the federal government relied on high tariffs, public land sales and sales taxes. One critical component of modern taxation was notably absent. Income taxes were not introduced until the Civil War, and at a rate of just 3%.

While Abraham Lincoln was a beloved leader, his position as the first president to impose a Federal Income Tax was significant throughout the country. Lincoln and Congress agreed to tax incomes that exceeded $800 annually.

Pervasive taxes would become normalized during this period in American life. Some of the most popular products that experienced heavy taxes included tobacco, rum and sugar. Citizens were required to keep an exhaustive and extensive list of their property and possession to satisfy new taxation requirements. This new and overbearing tax obligation would lead to the rise of William Jennings Bryan as a tax crusader.

Bryan stood up against income taxes in the late 1890s, objecting largely to excise taxes that targeted the poor. He made the argument that taxation at existing levels and requirements was akin to imprisonment. While his stance achieved popularity, Bryan fell short in his objective to implement a progressive income tax. The Supreme Court struck down Bryan’s efforts in 1895, silencing the matter for nearly two decades.

Mark Twain said of taxation in 1906, “I don’t know of a single foreign product that enters this country untaxed… except the answer to prayer.”

Taxes, Vietnam, and Inflation

As the years went by, the likelihood addressing gaps and inequities in taxation lessened. Progressive and conservative parties agreed that taxes were a hard sale to the American people. This became further exacerbated by America’s participation in both World War I and World War II. The U.S. would watch the marginal tax rate soar as high as 94% to fund wartime efforts, leading to more than 90% of the labor force submitting tax returns.

While taxes continued to rise, they retained a baseline level of support as personal income also increased. This net positive momentum came to an end in the 1970s by way of inflated oil prices, the inflated dollar, and the war in Vietnam. To make matters worse, Congress had been slowly but steadily grinding away the tax base, implementing loopholes that would give rise to a world of tax shelters.

The situation deteriorated so drastically that U.S. vacation spots began offering tax shelter seminars as part of vacation packages. Alan Murray, historian and editor for the Wall Street Journal, said of this phenomenon, “Skiers could drop by the seminars, fix a cocktail and watch a videotape telling them how to make tax shelter investments.”

As mass inflation careened out of control in the mid-to-late 1980s, more Americans were living below the poverty line. Simultaneously, the wealthiest earners in the country with annual incomes exceeding $250,000 paid less than 5% on their income taxes.

Ronald Reagan and Tax Reform

New Jersey Senator Bill Bradley and Merrill Lynch CEO Donald Regan united to champion the Tax Reform Act of 1986. As described on Colbeck Capital Management‘s Medium blog, the typically liberal-minded Bradley’s partnership with Regan’s conservative leaning policies made for an unlikely pairing.

Bradley had previously played professional basketball in the NBA. During that time, he was one of the highest-paid rookies in the league, earning him the nickname Dollar Bill. At the start of his rookie season, Bradley had an unforgettable experience when his attorney asked him, “How much do you want to pay in taxes?”

The question burst open the world of tax loopholes and evasion to Bradley, and he knew he wanted to do something about it. At the same time, Donald Regan established himself as a Wall Street companion and an anti-establishment conservative. Regan had wanted to take down the nation’s tax code for decades, an idea only popularized by the wolfish lobbyists blacking out the halls of Congress with their contributions.

Regan and Bradley approached a receptive President Ronald Reagan with what they termed BBLR, Broad Base, Low Rates. They had crafted a plan to cut the top tax rates down to 30% or potentially even lower. President Reagan liked the idea after experiencing high taxes during his career as a high-earning actor. He had famously declined work that would have raised his tax bracket, saying, “What good would it have done me?”

To accommodate the lower tax rates of BBLR, Reagan would have to go after deductions. Deductions for IRA deposits, charity, mortgage interest, auto loans and credit cards were seemingly gone with the scrawl of a pen. Loopholes were closed,deductions had vanished, but top-level earners were paying less than ever before.

The positive benefits promised by the BBLR model did not last long despite being lauded as one of the most ambitious tax reform efforts in the history of the nation. The attempt wasn’t ignored by international audiences as countries including Ireland and Canada were quick to follow suit.

What’s To Come?

It is highly unlikely that the United States can ever return to the BBLR model that Reagan originally popularized. The issue largely is that taxes comfortably shielded the welfare state from the eyes of everyday taxpayers. As it turns out, taxpayers would rather pay for welfare through hidden taxes than through the issuance of a benefit check.

As new discussions develop surrounding welfare and the government’s role, how the tax system reacts and adjusts will be fascinating to observe. One thing we do know for sure is that death and taxes will continue to plague us.

For more information on Colbeck Capital view them on Topio.

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How Cryptocurrency Can Help Nonprofits and Investors Thrive in the ‘New Normal’

June 10, 2021

By Thomas Cauley

A decade ago nonprofit leaders were talking about the ways donors could change the world through social media. Today we’re talking about cryptocurrency.

The COVID-19 pandemic accelerated the world’s digital revolution. Advancements in interconnectivity, virtual education, and even currency exchange occurred at a blistering rate. This included, of course, the not-so-new digital legal tender, cryptocurrency

Over the past year, the crypto space has surged with few signs of slowing down. Its adoption and normalization has led philanthropic organizations to evaluate its role in achieving their mission, while donors who hold crypto have resoundingly answered this question posed by The Giving Block: “Would you rather donate to the IRS or to your favorite cause?”

And even though many organizations, including my own, Operation Smile, are accepting crypto donations, it is startling that cryptocurrency has not been widely adopted by the philanthropic sector more broadly. In 2019, Davide Menegald, Chief Operating Officer at Helperbit, noted on Giving Tuesday that “… cryptocurrency donations only represent some 1-5% of the used payment method for charitable donations.”

Cryptocurrency is a solution that nonprofit organizations cannot afford to miss. Operating a philanthropic enterprise in today’s world demands versatility. And for many nonprofits, this starts by staying attuned to the pulse of crypto and the ways it is revolutionizing the financial industry.

Cryptocurrency is a solution that nonprofit organizations cannot afford to miss. Operating a philanthropic enterprise in today’s world demands versatility.

For Operation Smile, accepting tax-deductible crypto donations is a natural step for our organization. For nearly 40 years Operation Smile has partnered with generous individuals, families, corporations, foundations, countries, and ministries of health who were early adopters of the importance of global health care, safe surgery, and the impact a smile creates. Extending this invitation to make a global impact on our friends in the crypto community builds on our shared legacy of taking bold steps to make the world a better place.

Alongside forward-thinking crypto investors who believe in redesigning a better system, we can ensure that those suffering around the world from lack of safe, well-timed surgery will benefit from sustainable solutions in their community. Ones that address their needs on their terms.

There is no doubt that the cryptocurrency market can be volatile. Yet, the potential to increase crypto-adoption paired with tax-benefits reaped by both philanthropic organizations and the donor community creates a win-win scenario for all.

Not only is the donation tax deductible, but the IRS’s classification of cryptocurrency as property means that a crypto donation to a nonprofit could help to offset capital gains.

Consider this example from Steptoe – If a donor purchased crypto currency in 2019 for $5,000 and were to sell at $25,000, they would have to pay capital gains up to “… $4,760 in addition to federal income taxes.” If they were to donate it, however, “the taxpayer generally would not owe any capital gains tax as a result of the donation. Second, in the right circumstances, the taxpayer could receive a charitable contribution deduction that could reduce their federal income tax liability by up to $9,250. Together with the capital gains tax savings, that is over $14,000 in tax savings.”

A more simplified explanation comes from our partner, The Giving Block: “When you donate crypto to a registered charity, you do not recognize capital gains from the donation and can deduct it on your taxes. In other words, donating your crypto can often reduce your tax burden.”

Do not miss the opportunistic solution that is crypto. Whether nonprofit organization or crypto investor, our work together deals in the realm of people, and it is precisely their lives that are at stake.

At the onset of the coronavirus outbreak, those previously suffering were the ones who were hit the hardest and no doubt will continue to feel the effects of the pandemic for years to come. The myriad list of needs continues to grow while the backlog of services for those incapacitated by health risks before COVID-19 has created an impetus for us to act unlike any scenario in our history.

The potential partnership between crypto investors and nonprofits will go a long way toward filling this void. Building mutually beneficial relationships will help us to change the world and ourselves for the better.

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About the Author

Thomas Cauley is a nonprofit leader with over a decade of experience in the philanthropic sector. Working with organizations ranging from grassroots startups to globally recognized nonprofits, he has helped to raise over 80 million in global funding. He currently serves as the Director of Development at Operation Smile, overseeing major philanthropic funding throughout the southeastern United States. He joined the crypto community in 2017 and has been an active contributor, keeping his finger on the pulse of its development, ever since.

Looking for Car Insurance? Here Are 6 Tips To Help You Make Smart Decisions

June 9, 2021

Having car insurance is a crucial part of being a responsible vehicle owner. That said, it’s also essential to make sure you have the right type of car insurance for your needs.

If you’ve never bought car insurance before, navigating the market can be tricky. Here are some steps you can take to help you make a smart decision when choosing your car insurance.

1. Decide the Type of Car Insurance You Need

Car insurance is an umbrella term that covers a number of different types of coverage. While each company offers its own unique coverage types and variation, some common options include auto liability, medical payments, collision, and personal injury coverage. Depending on your requirements, you may want to purchase one or more of these options.

Auto liability coverage is the ‘basic’ car insurance coverage you can buy and is a legal requirement in most states in the United States. The other options listed are additional coverage options, which you may need depending on the status of your car and personal preferences. For example, if you are currently paying off a loan on your car, there’s a strong likelihood that the insurer will require that you carry both collision and comprehensive coverage, in addition to the aforementioned auto insurance.

2. Check State-Specific Requirements

While nearly all states in the country require vehicle owners to carry car insurance, laws differ by state. If you need help with your state’s specific requirements, consider checking a car insurance buyers guide tailored to your state for help. It’s also highly encouraged to consult with a specialised lawyer like David Bryant Law to make sure you have all the correct information. Some states will require that drivers not only carry auto liability insurance but personal injury protection as well, so you’ll need to confirm you’re carrying the insurance required of you by law.

3. Decide on the Policy Limit

Your car insurance policy limit is, essentially, the maximum amount of money your insurer will have to pay out in the event of a claim being filed. Each state has a minimum requirement of the amount of car insurance you need to carry. However, it’s usually recommended that you carry more insurance if possible, as you’ll usually need to pay more money than the minimum coverage out of pocket should you need to replace your car or pay for another person’s medical fees.

4. Decide on an Insurance Company

When buying sr22 insurance south carolina, it’s essential to take the time to research the various insurance companies you have to choose from. Ideally, you want a company that not only offers the most beneficial policy you also want an insurance company that is financially strong and will be able to pay out any claims you submit. Additionally, you should have an idea of how your insurance company will use your credit score and whether there is an available alternative that doesn’t take your credit score into consideration.

5. Check for Discounts

Your insurance company may offer discounts for car insurance if you are judged to be lower risk. Some reasons that you may be considered to be lower risk include:

Your age–older drivers are considered lower risk than teens and other new drivers
Your marital status – married drivers are deemed to be lower risk than unmarried ones
You have a long record of driving safely
You have taken and completed a driver training course

Additionally, if you have anti-theft precautions, you may be able to avail of insurance discounts as well. Make sure to check with your insurance company or agent to check if there are any options for lower costs you are eligible for.

6. Make Sure You Have All the Information You Need

Shopping for car insurance requires you to have a lot of insurance easily accessible, including:

An estimated distance you will be commuting daily, as well as a projection of how many miles you will be driving each year
Your current auto insurance costs, both yearly and monthly (if you have any), as well as a copy of any existing car insurance policies you currently have

Additionally, you’ll need to have driver’s license information for all eligible drivers in your household, as well as vehicle identification numbers for all the cars you own.

Other information your insurance company will require includes demographic and lifestyle information, like your age, marital status, claims records, driving history, and more. Having all of this information easily on hand will make the purchasing process significantly easier.

Speak to your insurance agent to get an idea of what documents and information you should have on hand, so you can get everything collected and ready for you to start buying car insurance.

When buying car insurance, you should also discuss ways to lower insurance costs with your agent, including bundling your coverage in with other insurances such as home insurance. Once you’ve researched all your options thoroughly and are confident that you’re choosing the right policy and provider for your needs, you can take the final step and make the purchase.

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End of Life Plan: A Guide to Easing The Burden for Your Loved Ones

June 9, 2021

Death is a normal stage of everyone’s life but not an easy topic to discuss for most individuals.

However, putting your end of life plan in place comes with several benefits. It eases the burden of setting your finances and materials in order and eliminates the guesswork in trying to build your legacy.

What is End of Life Planning?

End-of-life planning entails putting all your preferences and interests into a book so that when you breathe your last, your loved ones have a clear picture of what to do next.

It may be a challenging process, but it relieves your loved ones of the burden of figuring out everything when they’re in grief.

Losing kin often leaves the bereaved confused, angry, and broken. It’s not the best time to make perfect decisions, but they will have to think a way through their grief if you don’t lay the plans now. That’s why you need to plan your end of life, especially if you’re struggling with a terminal illness.

However, it isn’t limited to those facing a severe diagnosis exclusively. Anyone, regardless of age and health status, with preferences of what type of legacy to leave behind can consider putting the plan. Having an end-of-life planning will ensure that all your desires, interests, and choices are clear to your loved ones.

Why is End of Life Planning Important?

Putting an end-of-life plan will ensure that the world remembers you for what you desire and ease your family’s burden. Dealing with the insurance companies, figuring out financial assets, and active subscriptions can be unwanted surprises when your family and friends are struggling to come to terms with your demise or incapacitation.

Leaving a comprehensive end-of-life plan means you have established all the decisions. They only remain with implementation, which probably, won’t be too exhausting.

Checklists for End-of-Life Planning

Planning for end-of-life is one of the best ways to extend your love and care to the people that matter to you. Here is a list of the items to include in your end of life planning.

Documents Check

Last will
A living will and trust
Tissue/ Organ Donor designation
Health Care Proxy, Durable POA for Finances, Durable Medical POA, Healthcare POA, plus all other Power of Attorney (POA) documents
Domestic Partnership Agreement (where applicable)

Assets and Liabilities Checklist

Savings accounts and plans
Investment accounts
Online accounts
Pension and retirement benefits
Outstanding loans
Credit cards
Insurance policies
Real estate mortgages
Checking and bank accounts

List of contacts and their locations

Your close friends
Business contacts
Beneficiaries of your Annuity, Life Insurance, IRA, and other benefits
People in your will
Social and religious acquaintances

Funeral Preferences

You may also want to indicate what you would like to happen after you breathe your last. You can include information on issues like:

Cremation or burial
Whether you need a memorial or funeral service
Your preferred funeral home director
Where to place your remains
Preferences on pallbearers, viewing, obituary, eulogy, readings, music, and funeral home
Whether you want the family to donate to charities in your name
The kind of service you want
Military service

Dealing with grief is a painful process, and giving your loved ones peace of mind at such a time is the best gift you can offer to them. Planning your end-of-life is one of the best ways to ensure that they have little to worry about in your absence.

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