Mistakes You Need to Avoid When Applying for a Car Loan

January 14, 2021

Although owning a car was considered a sign of wealth around fifty years ago, it is now pretty much a necessity. You cannot be expected to run errands, pick up your kids from school, and reach work on time by depending solely on public transportation. Unfortunately, while cars have become commonplace, buying one, even if it is used from a place like Carzaty KSA, is still a hefty investment, and most people cannot purchase a vehicle on the spot using only their savings. That is why many people resort to taking out a loan to cover the cost of their new vehicle. However, jumping headfirst and committing to an auto loan when you do not have all the details is a huge pitfall you might encounter when looking for financing options. Having an international driving permit should also be a deciding factor.

To make a more informed decision, here are some mistakes you should avoid when applying for an auto loan.

Having a Bad Credit Score

No, we are not judging you for your past financial decisions, but you cannot expect creditors to grant your loan request if you have a bad credit score. Your credit score is a metric that lenders use to decide your creditworthiness or basically how much you are to be trusted with money. As you can guess, the lower your score is, the fewer options you will find when applying for a loan. Most financial agencies have several ranges your credit score can fall within. For example, FICO, the most well-known score brand adopted by the majority of lenders, has 4 ranges: excellent, very good, good, fair, and bad. If the creditor you are choosing uses this rating system, then a credit score of 670 or above should be sufficient. To stay on the safe side, make sure to check the system the creditor you are dealing with adopts, as there might be some slight differences that may put you in another category altogether. We also recommend that you pay any late credit card or loan installments to boost your score.

Choosing a Long-Term Deal

Before you submit your application, you need to ask around about the payment options you can get. Just like any other low interest personal loan, an auto loan can be either short-term or long-term, which is why extending your loan may be tempting. We get it; when you are struggling to make ends meet, a long-term contract might seem like a good idea. However, you know what they say, “hindsight is 20/20”! So, take it from the millions of people who have taken out long-term loans before; the small monthly installments are not worth it. The longer your payment period is, the bigger the overall cost is going to be, regardless of how competitive the interest rate you are getting seems at first. So, stick with three-year loans if possible, and avoid five to seven-year ones.

Not Caring About Interest Rate Types

A 4% variable interest rate? It does not get better than this, right? Well, not exactly. Interest rate varieties can be a bit tricky to understand and you may end up making a huge mistake and costing yourself a lot of unnecessary expenses if you are not careful. Generally speaking, there are two types of interest rates you can find: fixed and variable. As the name suggests, fixed interest does not change throughout your payment period as opposed to the variable rates that are subject to economic fluctuations. If the economic situation is especially turbulent, the annual percentage rate (APR) you will have to cover may skyrocket suddenly, causing you to miss your installments and drown in debts. This is why we recommend choosing a loan with fixed interest; at least, you will be aware of what you are getting yourself into!

Settling for the First Creditor you Can Find

Being in a hurry to get your loan will certainly not help you find the greatest deal on the market. Often, applicants become too desperate to get their loans right away, which makes them end up with sketchy lenders. So, take a deep breath, do your research, and curate a shortlist of the best creditors on the market. Then, take a look at their fixed interest rates and compare them. This way, you can ensure that you are not settling for less than the best!

Taking out a loan may just be the push you need to purchase the car of your dreams. Nonetheless, you must stay prudent throughout the whole process to avoid the mistakes we have mentioned. In addition to the pitfalls on our list, we recommend that you opt for a conventional lender instead of a dealership that offers financing options, seeing that the latter may oblige you to get extra insurance or coverage as part of the agreement.

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The Rise of Mobile Apps

January 14, 2021

For all the negative press of the last few years surrounding mobile phone usage and potential addiction theories, nobody can say that our phones haven’t been a godsend through the isolated and locked down periods of 2020. They’ve helped stave away boredom, kept us in contact with one another and mobile technology like the NHS Track & Trace app has done its part in helping keep us safe.

Where the latter is concerned, the Track & Trace app is just one of many mobile apps that millions of us have been reliant on during the period. In the wider picture, the rise of mobile apps has been astronomical, to the point they are now an everyday staple of many peoples’ lives – and their rise doesn’t seem to be slowing down any time soon.

But what is it that has made mobile apps a fundamental, almost essential, part of our everyday lives?

The ultimate convenience

If you actually take a moment to think about it, the technology we take for granted is absolutely remarkable. We have never lived in more of a culture of convenience, and the mobile apps that we use are the building blocks of that culture.

It’s really not so long ago that ordering food from your local takeaway meant ringing them up, chatting to your friends online meant hogging the house computer whilst on MSN Messenger, or listening to music meant a long wait while your newest purchase downloaded. All three of those things mentioned are tech-powered tools of convenience in themselves, but the rise of mobile apps has allowed us to gather all those separate entities in one place – our phones – and interact and complete actions with each of them instantly.

Communication, social media, e-commerce, music, food orders, health and fitness, navigation, finances, utilities – all of those resources and just about any other you can think of are now accessible in a flash. Through mobile apps, the world has truly arrived at our fingertips, providing us with the ultimate convenience, regardless of whether you think that’s for better or for worse.

Pushing engagement and sales

Download virtually any app these days and one of the first things you’ll be asked when interacting with it is whether you’d like to enable push notifications. Push notifications enable apps to communicate with you via text notifications. These notifications can be anything along the lines of new chat message alerts, promotions and offers relating to the service or a simple reminder to check in.

Push notifications can be tailored to the user, and this additional personalisation makes them an extremely useful marketing tool for the businesses behind the apps that want us to engage and interact with their product regularly or more often, as well as boosting customer retention and acquisition.

Again, it might not be something all of us like the sound of (in which case you can disable them) but push notifications have worked to enhance the appeal of mobile apps to their users.

The COVID companion

As mentioned in the introduction, where would we be without phones during this extensive and stressful lockdown period? On one side, people may argue that the COVID-19 pandemic has only served to make us even more reliant on our phones, but even the most vehement anti-mobilers would have to admit that mobiles, and mobile apps, have served as a necessary evil during the last 10 or so months.

For the average phone user, mobile apps have not only enabled us to remain in regular contact with our nearest and dearest during lockdown conditions, but also allowed us to maintain some semblance of normal life alongside. Want to order some food? No problem. Need to do a quick bit of banking? Not to worry, it’s right in front of you. Want to send a distant loved one a gift? Just head onto Parcel2Go and sort it out.

The aforementioned convenience factor has made our phones the perfect COVID companion, and the reliance we’ve developed for certain apps and features is likely to have an impactful legacy going forward.

Future prospects

While the COVID period has only further grown the importance of mobile apps in our lives, they were already a technology that was growing exponentially beforehand – and the future of mobile apps was and is extremely bright regardless of the pandemic.

There’s so much to come from mobile apps in the near future. Think 5G enhancement, smarter enhanced learning and AI driven apps, improved beacon technology, more VR based tech and plenty, plenty more. Because of that, mobile apps are not only here to stay, but set to become and even bigger part of our lives in the next few years.

It’s tough to say exactly where the world of mobile apps will take us in the future, although we can say they will become an even bigger part of our lives than they currently are. What’s undeniable is that their rise to their current point today has been nothing short of spectacular – and that remarkable level of growth is set to continue for some time yet.

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Who is Buying Rhodium? Why is Rhodium so Valuable?

January 14, 2021

If you’re looking into investing in precious metals, you might have noticed one asset priced higher than the others. That asset is rhodium, and it is often considered the most expensive precious metal out there.

In this post, we’re going to break down why rhodium is valuable and who is even investing in it anyway.

Why is Rhodium Valuable?

For one, rhodium is an incredibly rare precious metal. The asset is actually extracted from platinum, which in itself is a rare metal. That just makes rhodium even rarer. It’s a tiny market in comparison to the others, with most of it (85%, in fact) coming from South Africa alone.

South Africa is one of two places in the world that can mine platinum. That market is already affected by even slight changes there. Rhodium is the same way but affected even more. Consider if a mine shuts down or South Africa has a bad relationship with, say, the United States. Knowing that there are very few places to find it otherwise, rhodium’s price might rise significantly.

Rhodium is also considered a very pretty metal to many. Very rarely is it pressed into jewelry, but the few pieces that exist are quite expensive. Jewelry made of this metal is often quite shiny, which marketers can manipulate in photos and other ways to make it more appealing.

What is Rhodium Used For?

Similar to platinum and palladium, rhodium is often used in automobiles. More specifically, it’s used in the catalytic converters of cars, which help reduce nitrogen emissions. While that’s the metal’s most popular use case, rhodium is also used to toughen glass and to produce acids in chemistry.

However, because the metal is so rare, auto manufactures are considering moving to more palladium-based converters. This could raise or lower the asset’s price. For one, it will become used even less, dropping its price and making it more available to buyers. But, if more buyers invest in rhodium due to accessibility, it will become more expensive again.

Pros and Cons of Investing in Rhodium

As mentioned, rhodium is an expensive asset. Most investors appreciate that the metal is constantly in the thousand range. It almost never drops into the hundreds. Of course, that doesn’t make rhodium much of an accessible asset, but those who can afford it will buy-in.

Also, rhodium’s use in automotives makes it a safe investment. After all, the car industry isn’t going to disappear randomly. Investors know that the metal will be in use for a long time.

That said, rhodium’s rarity makes it a volatile asset. Some investors will like this. After all, they can profit largely in the short-term. New investors might want to be wary, however. If they’re not paying attention, that volatility can ruin them.

While rhodium might be hard to discover, investors will appreciate that it’s relatively easy to buy. You can buy rhodium physically in terms of bars or coins, or even buy rhodium online. Of course, the asset is quite expensive, so it’s only reasonable to invest in a significant amount. Investors can even purchase bars made of other metals as well since a pure rhodium bar is so pricy.

With all of this talk of price, it’s pretty easy to know who is buying rhodium. Investors with a ton of money to throw around are doing so. Those who want to buy expensive jewelry for their friends and family are as well. Automotive companies buy the metal in bulk, so they’re also investing in it.

Rhodium is certainly a target investment for many. If you can afford it, certainly try to diversify. Otherwise, stick with other, safer assets for now.

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Chu Agency Can Be the Best Partner For Any Business

January 14, 2021

marketing strategy Concept. Chart with keywords and icons. The meeting at the white office table

Getting a good marketing partner is essential for any company to stay ahead of its competitors and for getting more loyalty from its customers. This is where a company like Chu can be the perfect companion for any company that has already started or would like to start but doesn’t know how.

However, Chu establishes that they want to be completely different from other marketing companies that exist out there. Rather than selling a service with an indirect and cold interaction with the customers, the people at Chu want to become actively involved with the company that it partners with. They feel the passion to take any triumph as theirs, and of course to share the defeats in case they happen.

Marketing with Chu

Creating a good marketing campaign must be done with many pillars in place. Many companies that are dedicated to marketing make the mistake of treating every component of its campaigns as a separate entity rather than a unit that is part of a larger system. For this reason, every campaign developed by Chu will have the following steps:

Research
Brand positioning
Strategy
Advertising
Analysis and decisions based on results

Research is exactly what it sounds. The people at Chu Agency limited – http://chu.agency/ will conduct a detailed research of the market, and identify the places at which the client company can enter the market. Later, when talking about brand positioning, this refers to the task of positioning the brand in question in the place that was identified during the research stage.

However, none of these tasks can be properly made without a good strategy behind it. After all, it is essential to have a road map that can guide the actions that the company will take as every milestone is achieved.

Advertising is another key aspect where Chu can deliver good results to all its customers. They can put good ads in all kinds of media. They can be social networks, offline media, and in general any place where Chu and its client agree that putting an ad there can lead to good results.

Finally, Chu will also monitor the results of this campaign. It will ensure that it is performing well, and it will suggest and implement the necessary corrections if necessary. The marketing and advertising experts who work at Chu are some of the best in the field, meaning that clients can in general expect to enjoy great results.

Web design and creative department of Chu Agency limited

Nowadays it is essential to create visually attractive and appealing content. After all, even the best product or service around the world will not be so attractive or successful if it fails in being surrounded with good-looking content. For this reason, Chu has a well staffed artistic department. Specialists of many disciplines work here, including illustrators, art directors, web-designers, designers, creative directors, and more.

They can work in several different visual elements. For example, it is possible to create video clips, static images, brand books and even websites from scratch. This means that even if a company doesn’t have a website yet, they can still get the services from Chu for starting their new fantastic website from scratch.

Overall, Chu can be the best and most reliable partner for companies of all sizes and start-ups. They can take care of the branding, visual elements and even the website itself of it. This allows the client to concentrate solely on his or her new fantastic idea, while resting assured that Chu Agency will take care of the rest.

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Profiting From the Swings in Crypto Value

January 13, 2021

Volatility in cryptocurrency markets is a big part of the ecosystem as a whole but if you can predict when the swings are coming there is a lot of money to be made. If you’re new to trading cryptocurrencies this article will help you understand some of the ways you can make money from trading the different available coins in the market at this time.

If you are an absolute beginner there are some great guides on cryptocurrency margin trading out there but here you will just find a brief description of where the money is to be made.

There is no easy way to make consistent profits but there are certainly ways to improve your probability of profiting from market swings.

Profit from the news

The news is a great way to get a feel for what is about to happen in the cryptocurrency market as it is a great indicator of what the mass sentiment is about to shift towards. The trick with trading the news is to get in ahead of the curve. Get your news early and frequently by using leading crypto outlets as they tend to be the places where the news is entering the market at the fastest pace.

When trading the news the trick is to read the unbiased news stories and then try to figure out what they mean for the price of an underlying asset.

For example if news comes out that the CEO of Morgan Stanley is behind Bitcoin it may be a good idea to adjust your view of what may happen in the BTC market as if Morgan Stanley is behind it then it is likely that more bulls will be entering the market and the price will go up.

There are great ways to make money on Alt Coins by trading the news that comes out about them as the smaller companies that have already done an ICO are constantly growing and getting smaller and as a result there is a constant flow of news on them to trade.

Profit from Technical Analysis

Technical analysis is a surefire way to make sure you protect your gains and minimise your losses when trading. Technicals can also be a great way to time the market and figure out if you should be buying or short selling.

A very simple way you can use technical analysis is to input a Simple Moving Average and overlay it on the chart. If the Simple Moving Average line is above the value of the instrument it is a good time to buy the instrument. If the Simple Moving Average line is above the value of the instrument it is a good time to sell the instrument. Therefore we can say that as the instrument value crosses over the Simple Moving Average line it is a signal to buy the instrument and the opposite is true when the value crosses under the line.

This is a very simple example of one technical indicator but if you study technical indicators you will find a wide variety of different instruments that can indicate whether the instrument is a good buy or sell option at that given point in time.

Technicals should always be used when trading, no matter what your strategy is because it will make sure you are not only doing the right thing but doing it at the right time.

Profit from Sentiment

Gauging the sentiment of the market is a great way to profit from changing views and opinions of what is happening in the marketplace. Companies like Investing.com offer the ability to see what percentage of the traders on the platform are buying and what percentage are selling. The same is true for a number of other websites out there that allow traders and investors to indicate if they are bearish or bullish on an instrument. It’s wise to get an indication of what the numbers of people that are trading in one direction is so choose a website with a very large user base when gauging the sentiment.

As a general rule it’s wise to run in the direction of the crowd to avoid getting trampled. Think of it like surfing a wave, it’s impossible to go against a wave on a surfboard and as a result you should always be surfing in the direction the wave is going. That is how markets work. If the volume of buy orders is bigger than the volume of sell orders a wave will form in one direction, up. The bigger the volume the bigger the wave.

So run in the same direction as everyone else is running and you’re probably running in the right way.

Profiting from cryptocurrency trading

Of the methods above it is advisable to combine them into one cohesive strategy that allows you not only benefit from the news and general market sentiment but also time your entry and exit into the market using advanced technical analysis.

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Why are so many manufacturers switching from Intel CPUs to ARM chips for their enterprise servers?

January 12, 2021

When Apple first introduced its first product line sporting self-produced processors, it unsurprisingly prompted a wave of excitement from the tech community. These trailblazing ARM-based chips have set new performance level standards with maximized, never-before-seen energy efficiency that outranks competing models by a landslide.

However, Apple isn’t the only tech giant making the switch from Intel CPUs to ARM processors. As more and more manufacturers gradually discover the benefits of ARM, industry experts have reported a gradual shift away from incorporating x86 Intel processors into servers such as these.

That’s not to say that Intel’s CPUs aren’t as reliable as ARM processors. Intel claimed its title as the face of the CPU world year-after-year due to its unwavering dedication to providing peak performance above all else. For the most part, this attention to detail pays off. Today, Intel CPUs are still considered powerhouses for laptops and desktop PCs.

Despite that simple fact, manufacturers are still looking to ARM chips as the bright future of processor architecture for several reasons. Looking for answers? Read on for more insight.

Power efficiency

ARM’s main claim to superiority in the power efficiency department. The ARM architecture is based on RISC, or Reduced Instruction Set Computing, while the architecture of Intel’s x86 is based on CISC, or Complex Instruction Set Computing. As the name suggests, RISC is less complicated than CISC—the latter requiring more power and more transistors to carry out its more complex instructions.

However, ARM dedicated its undying attention to producing low-power CPUs and boosting their performance levels by improving its micro-architecture design. By developing their processors in this way, ARM has managed to generate energy-efficient CPUs while still claiming impressive performance levels.

Affordability

The low price point of ARM CPUs is undeniably appealing for any business, regardless of industry or top priorities. Unlike Intel’s chips, ARM CPUs require fewer transistors due to their power efficiency. Without as many transistors, ARM chips are cheaper to manufacture, leading to a lower retail cost, making it more affordable to purchase and implement.

Despite popular misconceptions, the purchase point is not the only way ARM chips save businesses money. Servers run around the clock, drawing power and needing maintenance. Due to ARM chips’ energy efficiency, companies can allocate resources wisely and avoid expending copious amounts of energy to cool and maintain their data centers.

Custom cores

Unlike Intel, which markets its chips to consumers, relying on their “Intel Inside” branding to attract consumers, ARM doesn’t produce its chips in-house. Instead, ARM CPU designs are licensed and then marketed at manufacturers. With this business model, manufacturers can purchase any licensing plan that works best for their purposes and design an original chip.

ARM does produce plans for ready-to-go CPUs, but clients can license the architecture set and develop a custom core based on the instructions. However, that option is expensive due to the difficulty in engineering a custom core. Usually, ARM’s clients will choose a standard CPU design, mixing and matching CPU cores, third-party GPUs, and other components to create a processor that uniquely fits their needs. ARM’s distinctive business model accounts for the many different ARM processors’ varieties and their unique functionality.

The bottom line

While ARM processors still have years of development ahead to prove their performance and efficiency, ARM chips’ incredible potential to become the premier CPU option. Experts project the ARM chip to slowly take the tech world by storm, leaving many to wonder how other prominent manufacturers will compete.

As a manufacturer, deciding whether Intel or ARM is best for your server development is up to your specific needs. Still, with ARM leading the charge to create an energy-efficient alternative to your typical robust CPU chip, it’s worth keeping your eyes peeled for product evolutions as ARM innovates and develops their unique processors.

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Should you Invest in the UK Property Sector?

January 12, 2021

There was a point in 2020 when many informed voices were speaking despairingly about the state of the UK housing market. The market went on to defy many of the grimmest predictions, and enjoy a fairly respectable year – thanks in part to measures put in place by the Chancellor to stimulate demand, including a stamp duty holiday.

So, is this going to persist into 2021? How should investors behave, and what factors are going to affect the state of things?

Recent Expert Predictions

Saunderson House is home to many of the most reputable experts in wealth management London has to offer. They cite the instruction to work from home as depressing the demand for office space, at least in the short term. They also acknowledge that the picture is grimmer than it was twelve months earlier. However, they also state that: “property remains an income-generating asset class, as the majority of the return for an investor comes from rental payments by an asset’s tenants.”

Why Should you Invest?

There are many reasons that, despite the recession, now is a good time to invest. The lack of supply is driving demand up, meaning that homes are selling faster and prices are rising. According to Savills’ five-year forecast, the price of the average UK home is set to grow by 15% by 2024. Interest rates are at a historic low of 0.1%, and SDLT is reduced until March.

What about Brexit?

It wasn’t so long ago that Brexit was being discussed constantly – but it’s taken something of a backseat compared to the impact of the virus. With the EU and the UK having agreed an eleventh-hour trade agreement, it’s unlikely that the impact of the departure will even register, when compared to the impact of the pandemic. Should Brexit cause a noticeable uptick in unemployment, we should see the growth in house prices slow down – but this is difficult to foresee.

Investment Tips

If you’re intent on investing in property in the UK, then you’ll need to first do your homework. You’re taking a financial risk, and perhaps a significant one – and it’s your responsibility to ensure that it’s fully researched.

Make sure that you’ve accounted for every fee, including those of solicitors, estate agents, surveyors, and the land registry. From March, Stamp Duty may be a concern one again – so make sure that you’ve factored that in when forming your investment strategy.

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Can Restructuring Solutions Revive Covid-19 Hit Businesses?

January 12, 2021

By Julian Pitts

As distressed businesses embark on the mammoth task of surviving during the coronavirus pandemic, it is evident that there are no safe havens across the globe. The economic challenges posed to businesses of all sizes are unavoidable due to the likes of Covid-19 trading restrictions and the closure of non-essential businesses. As businesses review their options, hold tight to company reserves, and adapt their services to continue operations during the lockdown, economic uncertainty clouds doubt around the future of businesses already experiencing struggles.

If you are searching for ways to revive your company during the coronavirus pandemic, assessing the scope of the pressure absorbed by your business can help determine the routes available to you. If your business is asset rich, yet cash poor, company administration may offer an exit out of difficulty. If creditors are showing aggression due to unmanageable debt levels, turning to a Company Voluntary Arrangement (CVA) can help remedy the situation. If your business requires a temporary income stream to stimulate company growth, seeking commercial finance may prove worthwhile.

As governing powers across the world extend emergency financial aid to viable businesses feeling the brunt of the pandemic, sectors such as hospitality, travel and events are being forced to close shop or operate at minimum capacity. Turning to government support, such as the Bounce Back Loan Scheme to cushion your business against the financial blow may provide enough support to withstand the impact of reduced consumer demand. The likes of a Time to Pay arrangement with HMRC may also give you the breathing space you require to restructure company finances and raise funds to fulfil your tax liabilities.

How can I fast-track company rescue during Covid-19?

If your business is in the centre of a time-sensitive predicament, enduring the repercussions could result in the rapid deterioration of your company. By seeking refuge through the likes of a Fast Track Company Voluntary Arrangement, you can rapidly shelter your business from creditor pressure and the serious threat of legal action. Failure to revise business operations could result in irreparable damage to your company, leading to restructuring options to be closed off to your business. If your company is forced into compulsory liquidation, this is the final straw before it is removed from the Companies House register.

A Fast Track CVA is essentially a CVA compressed into a tighter timeframe, allowing for a faster recovery to be made, such as throughout the coronavirus pandemic. The process lasts as little as six weeks, throughout which creditors will be contacted with a proposal to restructure payments into affordable instalments. The payment plan can only be enforced following agreement from 75 per cent of creditors by value, lasting between 3-5 years. By providing your business with this safety net, you can minimise losses for creditors and keep track of your company finances.

If a Fast Track CVA is recommended by a licensed insolvency practitioner, this will be formally proposed to creditors after seeking approval from shareholders. Once the draft CVA has been submitted to the Court, a meeting will be held with company shareholders and creditors. If successful, you will pay one monthly instalment into a Trust account managed by your appointed licensed insolvency practitioner. The insolvency practitioner will forward the agreed contributions to each creditor.

Once the CVA has been approved, no legal action can be taken against your business and any existing action will also be frozen. If you default on your CVA, your business will no longer be protected from creditor action.

As the coronavirus pandemic continues to rock trade across the world, selected businesses, such as supermarkets, e-commerce platforms and food delivery services are breaking records. Using a restructuring solution can help revive the financial condition of your business and help cope with trading uncertainty.

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About the Author

Julian Pitts, Regional Managing Partner at Fast Track CVA is a long-time player in the sector of insolvency and business recovery. He is highly experienced in developing innovative solutions for financially distressed SMEs, skilled in protecting livelihoods and giving ailing businesses a fighting chance of survival, including during the coronavirus pandemic.

MBA Finance: Academic-to-Employment Guide

January 12, 2021

It is no wonder that every state is dealing with financial issues. Most leading firms and institutions are taking advantage of employees who can serve as a finance analyst or manager to secure their finances for future events. Nowadays, many organizations are setting up different industries all over the field. An MBA finance can manage the finances required for the management and make well-informed decisions. Also, many new trends are entering the business and finance sectors in recent times. For this reason, a large group of students is opting for an MBA with a specialization in finance worldwide.

MBA finance is a master’s in business administration degree that covers different aspects of finance studies. A master’s degree in MBA finance is the most suitable career choice for individuals with strong mathematics, finance, and economics skills. It allows you to create a balance between mathematics and management theory, driving your career towards a c-suite in the finance department. Do you desire to secure a stable and well-paying job? Then an MBA in finance is the right career path for you.

Is it confusing you whether or not to pursue the master’s degree because of your full-time job or other life commitments? In this case, earning an online MBA degree can help you advance your career while maintaining the balance between work and family. Online program gives flexibility to these students to learn with the comfort of their home. There is no compromise in the quality of education in the online program in comparison with on-campus ones.

Prerequisites For Admission In MBA Finance

After completing the undergraduate studies, there are some requirements necessary to pursue a master’s degree. Some common prerequisites for the MBA Finance program are:

A bachelor’s degree from a regionally recognized university
Letters of recommendation and statement of purpose
An English proficiency test such as TOFEL
GRE or GMAT score

Most of the MBA programs have set a benchmark for the GPA. Generally, the eligibility criteria in MBA programs with a specialization in finance ranges between 3.0 to 3.25. Some of the universities do not charge this criterion for students who express more passion and enthusiasm.

Also, it is mandatory to have work experience in the related field. Students failing to meet this requirement might not get the same preference as the ones with job experience. However, the admission team can consider internships. Students can submit references with their application as it will help them to distinguish themselves from other applicants.

Courses In MBA Program

After choosing a finance specialization in your MBA program, the next step is to search for courses. Considering that each university offers a different set of subjects, students should choose their electives according to their interests.

Here is a brief description of some of the most common courses in the program:

Applied Financial Management

The financial management subject involves the study of various financial operations in a business. It may include managing cash flow, planning of finances, and valuation on liabilities. Students might learn some case studies in this course to understand real-life scenarios.

Investment Analysis

Creating and managing portfolios are the main focus of this course. Students will get to study the concepts of risk vs. return, common shares, diversification strategies, and many more topics.

Investment Banking

This course has four core areas: trade, management of assets, financial markets, and advisory. Other topics, such as merging, form strategy, and design, will also be a part of this course.

Financial Statement

In this course, students learn how to analyze the data of the financial statement for any firm. The topics, such as bond ratings, loan requests, and accounting data, come under this course.

International Finance

Within this course, students study the international financial markets. Students will explore topics such as cryptocurrencies, foreign investments, and global liquidity. In addition to it, the course covers a variety of rules and regulations necessary for foreign investment.

Corporate Finance

This course helps students to gain extensive knowledge about how the system in which financial experts work. They will learn the tools, concepts, and applications to analyze financial data. Students may also understand how to make financial decisions such as valuation, cash flow, capital assets, and much more.

Job Roles for MBA Finance Graduates

There is a wide range of employment options in various organizations that an MBA in finance can prepare you for:

Financial Advisor

A financial advisor’s responsibility is to help their clients with the planning of finances in the future. They give their clients advice about where to invest their money. They also provide information about the popular products in the market to put the finance to fair use.

Financial Manager

The role of a financial manager is to look over all the financial analysts and assist them. Creating financial records, strategizing the organization’s finance, and educating finance team members are the primary responsibilities. Also, they act as a link between the finance team and members of other business departments.

Chief Financial Officer (CFO)

CFOs are responsible for overseeing all the financial activities in the organization. CFOs manage the departments related to taxation, investment, accounts payable or receivable, and pricing decisions. A Chief Financial Officer’s average salary ranges from 98,700 USD to 298,000 USD in the United States.

Corporate Controller

The role of a Corporate Controller involves overseeing both financial and accounting operations in the firm. The Corporate Controller is responsible for monitor budgeting, invoicing, payroll processing, and accounts payable. They are also responsible for establishing and implementing financial policies.

Management Consultant

Management Consultants either establish their own business or work for third-party consultant companies. They conduct extensive research or gather data for their client. Management Consultants try different hypotheses to understand what works best for their client business.

Conclusion

Pursuing a masters’ degree in MBA finance opens a gate to several job opportunities. Apart from academic knowledge, many business schools provide career counseling facilities, internships and organize job recruitment events. It allows you to build a strong network with the professionals to grow in this field. The critical point is to maintain focus and absorb as much knowledge as possible.

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Payday Loans in the US, a Look at the State of the Industry

January 11, 2021

Payday loans are short-term loans that are typically small in amount. In the United States, payday loans go by many names, including payroll loans, cash advance loans, and salary loans. They have been around since the Civil War, but really gained popularity in the 1990s.

In the 1990s and early 2000s, the payday loan market in the US grew from less than 500 stores to over 22,000. The industry exploded and was valued at $46 billion.

The Payday Loan Industry Today

Today, payday loans are legal in 27 states. Nine additional states allow some form of payday loans under set regulations. Payday loans are illegal in the remaining fourteen states including the District of Columbia.

The payday loan market in the US has been declining since around 2010. Currently, in 2020, the industry is valued at around $11.2 billion. Still, nearly 12 million Americans will take out a payday loan each year. Payday loans are more common with urban populations than rural populations according to studies. Additionally, a large percentage of the population taking out payday loans are military members.

The average payday loan amount taken out by Americans is $375. But the legal loan amount max varies from state to state. Some states have a limit of $50,000, such as Oregon. Other states’ limits are as low as $300, like Montana. And still, some states, like Utah, have no limit.

The reason for this variance is because the payday loan industry is regulated both federally and locally in the United States.

The Consumer Financial Protection Bureau (CFPB) oversees payday loan regulations nationally. Both the CFPB and the Truth and Lending Act help to regulate payday loan lenders.

The Truth and Lending Act states:

The borrower must be advised of the cost of the loan;
The lender must inform the customer of the commission amount;
The lender must disclose the annual percentage rate (APR- the cost of the credit on a yearly basis);
The payday lender must detail all the terms of the loan in writing before the loan is authorized by the customer.

The CFPB works to make sure that federal rules are enforced consistently across the United States.

In addition to national oversight, payday lenders are also regulated by their state laws. As mentioned, payday lending is not legal in all 50 states.

There are restrictive states, in which payday lending is illegal or the rules are so unfavorable to lenders that loans no longer take place. Hybrid states, in which there are rules regarding rates, payback periods, and loans per borrower; so lending still occurs but is moderated. And permissive states where lenders have more freedom and flexibility.

Examples of Payday Markets in Four States

California

In California, there are strict rules regulating payday loans and lenders. The loan amount max is $300. The contract terms for a loan cannot exceed 31 days and terms cannot be rolled over to new or extended contracts. The APR cap is 460% while the finance charge cap is 15% of the amount advanced (or the total loan amount).

Illinois

Illinois is a bit less restrictive than California. The max amount a lender can loan is $1000 or 25% of the borrower’s gross income. The contract terms of the loan cannot exceed 120 days. APRs are capped at 404% and finance charges are capped at 15.5% per $100. Additionally, borrowers are restricted to one loan at a time.

Nevada

Nevada is considered to be one of the least regulative when it comes to payday loans. The max amount cap is set at 25% of the borrower’s gross monthly income. The loan contract terms cannot exceed 35 days. There is currently no limit on APRs, but when it comes to real APR the cap is 625%. Also, there is no restriction on the number of loans allowed at a single time.

Montana

On the other hand, Montana is quite restrictive. The max loan amount is only $300 and the contract terms cannot exceed 31 days. The APR cap for small loans is 36%. The finance charge cap is even smaller at 1.39% for $100 for two weeks. Criminal actions against borrowers are also prohibited.

For the most part, states that allow payday lending have attempted to cap loan rates and set terms regarding contract length. There are also state laws and American laws that prohibit criminal action against borrowers.

The State of Payday Loan Lending In The US

Despite these regulations, and some states finding payday lending illegal, consumers still turn to payday loans as a convenient way to get cash fast. This is especially true in times of emergency. The payday loan market in the United States seems to fulfill a real need, access to short-term loans when they are in a bind.

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