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How to manage your personal debt?

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manage your Personal debt

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Personal debt, this one term has different meaning to different people. Some people see it as an enabler which helps them in getting what they want and some people see it as a burden on their shoulders which they seem to hate. In reality, it can be both.

What does Personal Debt entails in the current scenario?

Personal Debt nowadays means debt incurred by a person to buy something he fancies or needs and he can borrow it from lenders like banks, people and other institutions. People take the money from such lenders and usually pay an interest (depending on the principal and interest rate agreed upon) on debt incurred. It also includes credit card debt, automobile loans, and house loans. Recently many banks have started to offer personal loans, gold loans and loans for buying electronics items like TVs, laptops and even mobile phones.

How it can be good for you?

Personal debt can be an enabler. You can buy things you need and want and you can pay as per your need. A person can pay in easy EMIs and doesn’t need to spend from his personal savings, instead he can pay it out from his future cash flows. Thus in a way it is a good thing for people who are sure of a fixed income. One can also hypothecate some of his belongings like gold and house and fulfill the immediate needs of cash.

With Individual Voluntary Arrangement you can also manage your unsecured debt. An IVA acts like a legal agreement between you and the creditor which usually lasts for 5 years. During this period you pay only what you can afford to pay outside reasonable living costs. All interest charges freezes to 0% and  creditors cannot demand for additional payment as long as monthly IVA payment is made. Once IVA has completed, all remaining debt will be legally written off.

But what are the downsides?

Now comes the tricky part. Personal debt can be an enabler but it can also be a rat trap for you. Personal Debt has many downsides and if incurred beyond a limit, it can destroy your finances and economic wellbeing and you can get bankrupt. It can be a great cause of worry if your personal debt is huge but why exactly? The truth is: most people’s sole asset (let’s assume that asset is something which gives you income) is their monthly

salary only. And they have lots of liabilities (let’s assume that liabilities take something out of your pocket). But how it affects them? Well haven’t you felt the money crunch? Lots of people complain that their salary lasts for one two weeks and they barely get by for the rest of the week. Many people who complain about having no savings are the people who have higher than average salaries and many of them belong to families where many people earn. Why is that? The simplest logic is their expenditure is much higher than their income. And this creates a problem. Most of the people nowadays have low survival ability i.e. if their salary stops coming in, they will go bankrupt very soon. Such people are living from salary to salary and have meager savings and high debts(mostly credit cards). This is really a dangerous condition.

High personal debt means high negative cashflow. Many payments are needed to be paid at the beginning of each month thus the amount you can save goes down. Also the money you have for your immediate needs goes down which causes more credit card debt. Also the interest rates are usually very high for credit card debts. Just imagine, if anyone buys a car worth 5 lakh with 2 lakh down payment and 3 lakh loan, the car might cost him around 7lakh with interest.

Don’t incur high personal debt!!!

How to manage your Personal Debt?

Hopefully by now you will be interested in managing your personal debt. There are some basic guidelines which might help you in managing your personal debt successfully.

1. Try to buy things with cash – If you don’t use your credit card much, you will find that you are buying things less than usual. Also it is hard to choose between a hand full of cash and an item (try it). Your expenditure will go down and you will find that you also save credit card dues and fees (even if it is a ‘free’ credit card, there is usually a limit beyond which, it is free of annual charges).

2. Use tools in the market – There are many tools, available online, using which you can bring your debt down slowly. These are developed by financial experts and you can check them out. I found one such debt calculator tool which I personally recommend. It is an excellent tool which can actually help and is easy to use.  It is the debt calculator at www.IVA.com

An IVA theoretically is an Individual Voluntary Agreement which can help you in managing your unsecured debt. You can take advantage of the fixed rates of IVA and use them to slowly and securely pay your debt. This scheme can thus help you in getting debt free and also offers you protection from creditors which many other debt reducing plans like Debt Management Plans do not.

To avail the benefits of IVA you need to get your financial condition assessed by an Insolvency Practioner (IP). A fixed rate will be chosen and then you can slowly pay off your debt. Mostly IVAs can help you finish your debt in a short duration of just five years.

 3. Save more – There is no alternative to saving more. If you have enough savings you can weather many disasters and it will increase your survival ability. Also you will feel much less anxiety if you know that you have enough financial resources to survive.

4. Get income generating assets – You should always try to get as much positive cashflow as possible. Invest in schemes, buy shares or real estate (which should get you some income every month) or operate some side business. It will also enable to retire earlier and live a tension free post retirement life.

I hope that this article has encouraged you to think and maybe have given you some ideas to how to manage your personal debt and finances effectively. Please do share your thoughts on the subject, I would be glad to reply to your comments.

I am a software engineer in a prestigious MNC. I am NSE certified derivatives professional and I like to dabble in money making schemes a lot. I like to read, play subway surfer on my tab and I am always connected to internet.

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5 Mistakes to Avoid While Buying Study Tables Online

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Study tables are a necessity in almost every household, office space, public places, etc., where one might just like to relax and read or avidly work on a given project or assignment. Let’s face it, completing tasks within a given deadline is a lot more distracting without a study table present. Sitting for hours on the bed with your laptop on your thighs or reading books casually might lead to back injuries and eyesight complications in the future. Hence it is best to have a proper study table to complete all your tasks and have a comfortable experience. These days, almost all customers have shifted to purchasing study tables online instead of going to stores because it saves a lot of time and money. However, while purchasing furniture online, there are a few mistakes which all buyers must avoid in order to invest correctly and have a commendable consumer experience:-

  1. Ignoring the brand name and price value:– It is really easy to go for furniture which is cheap and the description on the products is very promising. However, do not be fooled by such elevated claims these unknown brands make, because in their mission to sell duplicates of popular brands, they will create a divine image about their product and will rob you off your money. To be on the safe side, it is important to visit sites which are popular and there is good feedback about the purchases made. Try purchasing from brands which have both online stores and shops in the city. Better be safe than sorry.
  2. Impulsive purchasing:- Decisions made on an impulse almost never favour a person’s luck. While purchasing study tables, it is important to consider all possible loopholes that might be associated with it. Take your time to think and make a choice which will complement the area surrounding the study table and also will be durable. Don’t make an investment blunder.
  3. Ignoring the compatibility:– If you want to buy coffee table online or a study table, the surroundings it is going to be placed in must be carefully estimated. For instance, taking proper measurements of the area in which the table will be placed as well as the measurement of the door through which the product will be brought in must be accurate. It is suggested that you find a delivery service which places the table in its right place to avoid future complications.
  4. Not settling the place prior to the arrival of the table:– It is imperative that the necessary documents, books, copies, electronic devices, decor, etc., must be assembled in order prior to the arrival of the study table. That way, a lot of time will be saved and the table will be ready to use sooner. Keep a tab on the return policy from the brand you are ordering your study table from.
  5. Not surfing varieties:- Another major mistake buyers commit is not viewing varieties prior to purchasing a study table. It is more feasible if you surf through the different styles and varieties that these study tables are available in before impulsively investing in one. There are several styles that might suit your preferences like a bed study table, height adjusting table, a study table that can be folded and a light and shade one.

So if you are planning on purchasing a study table or a coffee table online, make sure to avoid these common mistakes to make a sound investment on your purchase and have a pleasant consumer experience.

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The Importance and Usefulness of Medical Posters in Research

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The results of scientific work and research projects in the medical field can be disclosed in a variety of ways. Along with the scientific article and the oral presentation, medical poster presentations are one of the most important and most common communication formats among researchers in the medical field.  The medical poster is a graphic summary of a previous research whose composition consists of a short title; an introduction to the hypothesis: an overview of the experimental approach; the most interesting results, and a discussion about the results obtained. It is also important to include a list of the relevant articles used during  research. And, when there is still room available, it is worth to mention the persons or institutions that have contributed to the work by giving funding or technical assistance.  

Why are medical poster presentations relevant?

Medical posters are an alternative to oral presentations because they offer the opportunity to present research projects or papers that cannot be presented orally for various reasons – for example, if the author resides in a country other than that of the conference venue. Plus, they help to achieve the ultimate goal of all communication in a scientific congress: the transmission of a message by the author and its capture by the audience. This is possible because medical posters allow the attendees to analyze research results at a speed that matches their knowledge and skills, and also because it is easier to remember images – especially if you have time to look at them carefully – than to remember the content of an oral presentation.

In the medical field, posters are a form of communication with great potential because they enable the concise, clear and permanent transmission of their content, without the time restrictions imposed by oral conferences. Medical posters offer the possibility of establishing direct communication with the author(s) of the poster promotes the one-to-one exchange of opinions with a tranquillity that is difficult to achieve in the context of a large-scale conference. E- poster platforms such as https://www.postersessiononline.com/ have virtual galleries where the delegates have access to all the posters and they can interact in the same way they did during the congress, contacting the author, downloading the poster and even starting a discussion in the forum.

On the other hand, an additional advantage of medical posters is that the author does not have to prove his erudition and the presentation does not become a difficult oral examination, which is especially important when research is presented in a language other than mother tongue. It also allows doctors who find it difficult to overcome the pressure of an oral presentation to expose the results of their work.

How is the ideal medical poster?

The design of the poster is important both to attract the interest of people who visit the room where the poster is displayed and to comprehend in a very short time the most relevant aspects of our work. The reading of the poster -and the subsequent understanding of the content should take less than 10 minutes. A poster must be visually attractive and that is why it is important not only to know how to combine colors, letters, images and graphics, but also that it does not contain too much written information: the maximum recommended is 800 words. Therefore, the information should be synthesized so that, in a few minutes, the attendees have a clear idea of the objective and result of the research that they are reading. In this regard, a well-designed medical poster must satisfy the following criteria: Visual appeal, personality, aesthetic balance, clarity in the explanation of ideas, quick understanding of the hierarchy and distribution of the parts, synthesis and rigor.

You also have to take into account the font and size that is used, as some are too complicated to read. Times New Roman, for example, is often used in written texts but is not suitable for a poster as it is difficult to see and read from a distance. The color chosen for our poster is also important. Do not use colours that are too light on a light background or dark colours on a dark background. It is also advisable to avoid loud colours. Another common mistake is to plague the poster with too much information. Don’t forget that the medical poster is not an article in large print. Try to reduce the text and use more graphic resources such as tables, figures or images.

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Karatbars Becomes One of “10 Blockchain Companies To Watch In 2019” according to Forbes

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Stuttgart, June 06, 2019 –   America’s most prominent business magazine Forbes places The Karatbars group around Dr. h.c. Harald Seiz in a new list of the  “10 Blockchain Companies To Watch In 2019“. Joresa Bount’s article presents a “deeper look at the technologies, founders, and companies that are emerging in the industry (…) The teams of these innovative blockchain startups are global, cutting-edge, and typically include early blockchain adopters as founders.”

Ms. Bount asserts that “This list showcases 10 companies working to make blockchain more accessible, prominent and mainstream. (…) Each offers something unique with the potential to disrupt traditional industries as well as gain support from legitimate entities.”

“Based in Germany, Karatbars International GmbH is the developer of KaratGold Coin and a robust gold-linked ecosystem of cross-border blockchain solutions. Their latest product, the IMpulse K1 Smartphone, is the first phone using Voice Over Blockchain Protocol (VOPB). Currently, KaratGold allows consumers to trade or purchase gold on more than 500,000 acceptance points worldwide. With all of the recent talk about Bitcoin versus gold, this company provides the best of both worlds,” the article says.

Karatbars CEO and Founder, Dr. h.c. Harald Seiz states that “the Forbes contribution and inclusion in such a list is a great honor for us. The article shows the full diversity of the blockchain universe – and we are proud to be listed in this series due to our two crypto-currency innovations, including a link to gold, and the blockchain smartphone IMpulse K1.” “Cryptocurrencies and blockchain are on everyone’s lips. But cryptocurrencies are not only relevant as an investment object, the underlying blockchain can revolutionize all our workflows and business processes – even outside of finance. That’s what we and the other nine companies exposed by Forbes are working on every day,” he continues.

“In order to strengthen our marketing activities in this area, we have now entered into a cooperation with the most well-known crypto-influencer, John McAfee. Hardly anyone else covers the market as well – and critically – as he does and so we are pleased about the collaboration on our cryptocurrency KaratGold Coin (KBC),” Seiz tells. “Warning: I work with this company. However, KBC coin is linked to gold in a way that downside is limited, while the upside is unlimited. (…) For me, it is simply a way to protect against the crypto markets’ volatility. I only work for companies I believe in,” McAfee shared on his Twitter.

More Information about Karatbars

Karat-Gold

Karatbars International GmbH was established in 2011 with its main office in Stuttgart. The CEO and founder Dr. h.c. Harald Seiz is active all around the world. He offers a vast number of goods and services around the real value gold and blockchain solutions. In fact, these are the distribution of small gold bars, cash gold – the substitute of conventional currencies – and two cryptocurrencies, the Karatgold Coin and KaratCoinBank Coin. In October 2019 Karatbars the Voice-Over-Blockchain Protocol Smartphone IMpulse K1-Phone will be launched. The device provides highly secure data transmission via blockchain and end-to-end encryption. The company is now the front runner at the market of innovative gold products.  It has more than 600 000 affiliates in more than 120 countries with the annual turnover reaching 100 million euros.

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