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7 mistakes to avoid with buy now, pay later
Finance

7 mistakes to avoid with buy now, pay later

“Buy now, pay later” plans have become very popular among customers who want to pay with credit without having to incur interest rates. Plus, “buy now, pay later” plans are easy to apply for and a convenient way to pay. However, like with any payment method, customers can make certain mistakes regarding “buy now, pay later” that can land them in financial trouble. Here are a few such mistakes that individuals should avoid. 1. Forgetting or missing payments When dealing with loans or debts of any form, keeping track of their payment due dates is extremely important. The same goes for “buy now, pay later” plans. If one forgets to pay before the due date, they must bear late payment fees or penalties. Plus, missing payments will impact their credit score. Moreover, one must be extra careful about the payment deadlines of “buy now, pay later” plans. Unlike most common forms of credit, like loans and credit cards, “buy now, pay later” plans have a weekly or biweekly payment cycle. So, if one is accustomed to checking their outstanding payments every month, they may miss their BNPL payment deadlines. 2. Ignoring the added charges Unlike credit cards, “buy now, pay later” plans do not have interest rates on them.
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6 common annuity mistakes and how to avoid them
Finance

6 common annuity mistakes and how to avoid them

An annuity is an insurance contract issued and distributed by financial institutions. Their objective is to pay out these invested funds to the investor in the form of a fixed income stream in the future. The investor can buy these annuities with a monthly premium or through a lump sum amount. This type of investment is usually done to get income in retirement years. However, here are some common mistakes people make with annuities. Not shopping around One of the biggest problems with purchasing annuities is that not enough people shop around before they commit to buying from one place. Annuities are known to be profitable for brokers because the commission can be as high as 10 percent in some cases, which means that the investor is paying a lot more than what they need to pay. However, there are many annuity shopping services through which one can invest directly, with no broker. Also, variable annuities are available through particular companies. So, one must explore the available options before making a decision. Choosing the wrong annuity There are four basic types of annuities: Fixed dollar amount – This gives an investor a fixed return on the investment, which is pre-decided and agreed upon.
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8 common payroll mistakes to avoid
Finance

8 common payroll mistakes to avoid

Payroll is a finance-related business process that calculates and disburses employee salaries and benefits. To run a business successfully and keep its workforce motivated, companies should prioritize accurate and timely payroll processing. However, payroll management is a complicated task with many layers of guidelines, and it is constantly upgraded based on the company’s needs. Making mistakes in this aspect can not only cost resources and add-on finances to the company but also create a sense of distrust amongst the workforce. Common payroll mistakes to avoid With due diligence, companies can avoid several oversights. Some common errors include the following: Not tracking working and overtime hours It’s important for all businesses to note down the working and overtime hours of the employees not just for calculating payments but also to access productivity and efficiency for long-term business success. These issues are especially prominent when an employee travels for work or must participate in tasks outside the work hours or office premises. It’s best to automate this process using systems like biometrics to simply the payroll management tasks. Sending incorrect W-2s A W-2 is an important payroll document that enlists all crucial information related to the employee’s salaries, their benefits, taxable income, 401k, and other financial details.
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5 mistakes real estate investors should avoid
Finance

5 mistakes real estate investors should avoid

Real estate has always been a popular way to invest money. This is because there’s a constant need for good housing options. Buying a property for investment purposes will give good returns every year. However, one must take a certain level of risk. People should also have enough knowledge about the market to avoid huge losses. One way to succeed is to know the five common mistakes other real estate investors make when investing. Not making a solid plan One should have a well-defined plan before starting the real estate investment journey. Buying a house can be risky without understanding how it will generate gains or income. Since there are different types of real estate properties, people can start by studying each type. For example, a vacation rental, an office, and a home. While one may feel tempted to invest when an attractive deal lands, it is wise to take a step back and think if the investment fits into long-term goals. Always consider how the investment will fare if the market goes down! Skipping research Just like any big purchase, investing in real estate requires research. However, the research here needs to be more thorough. After all, a home is more expensive than a television or a car.
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Top 7 Vanguard index funds to consider buying
Finance

Top 7 Vanguard index funds to consider buying

Many people prefer tried-and-tested, low-risk investment options because these offer protection in the face of economic uncertainties. Index funds are among such investment options, and quite a few of them end up performing better than other types of mutual funds. Vanguard, a giant in the investment management industry, offers a host of index funds that strike the right balance between risks and returns. Here are some of its best index funds to consider buying today: 1. Vanguard S&P 500 This popular index fund is also called the Vanguard 500 Index Fund (VFIAX), and it tracks and invests in stocks that are a part of the S&P 500 index. Basically, the S&P 500 index tracks the stocks of the top 500 companies that are listed on stock exchanges in the country, so there is a good chance of high returns. Also, investing in this fund diversifies the investor portfolio to a great extent, reducing overall risk. The risk further diminishes with this type of investment because it tracks a highly reputed index in the financial market. The Vanguard S&P 500 lends itself well to long-term investment goals, wherein the plan is to let the corpus grow on its own time before reaping its benefits.
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5 mistakes to avoid with a 401(k) plan
Finance

5 mistakes to avoid with a 401(k) plan

A 401(k) plan lets employees set aside a specific sum from their monthly paychecks and invest it in a special retirement savings account. Opting for this plan has several benefits. For example, one can choose from two types of 401(k) accounts (each with unique features) and avoid paying taxes on the money invested. Still, for a 401(k) plan to work effectively, one must steer clear of a few common errors. Not investing enough Individuals should regularly invest money in the 401(k) plan during their employment tenure to enjoy a good return after retirement. Not contributing to the account frequently, contributing a low amount, or not increasing the contribution to this account over time as one’s salary increases are all factors that may affect the plan. Individuals should note that they could invest around $22,500 in the 401(k) in a particular year while increasing the sum by $500 the following year. Those over 50 could put away an additional amount. Some plans enable users to automatically increase their contributions by 1% annually at a date of their choosing, which is highly beneficial. But one should note that the automated annual increase will stop once it touches 10%, or 15% in some cases.
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Foods That Help Manage Hyperkalemia Symptoms

Foods That Help Manage Hyperkalemia Symptoms

Hyperkalemia is a health condition characterized by excessive potassium levels in a person’s bloodstream. Maintaining healthy potassium levels is crucial for optimal health, and one can do this by following a healthy nutritional regime that helps manage hyperkalemia. Hyperkalemia is potentially life-threatening, so prompt treatment is necessary to keep its symptoms at bay. Various healthy foods are proven to help reduce potassium levels, and some of these food items are listed below. Hyperkalemia Hyperkalemia is a medical condition in which the potassium concentration in the blood is too high. The condition can lead to various symptoms, such as muscle weakness, fatigue, tingling sensations, and an irregular heartbeat. The best way to manage hyperkalemia is to make lifestyle changes that help maintain healthy potassium levels in the body. These include reducing salt intake, exercising regularly, and eating a balanced meal with an adequate amount of potassium the body requires. Types of foods to manage hyperkalemia A balanced meal plan low in potassium helps manage hyperkalemia symptoms to a great extent. Four different types of foods that help manage and reduce the risk of developing hyperkalemia are listed below. Vegetables Vegetables are an essential part of a balanced meal plan to manage hyperkalemia.
Multiple Sclerosis – Causes and Early Warning Signs

Multiple Sclerosis – Causes and Early Warning Signs

Multiple sclerosis is an immune-mediated condition. This means that the system that is supposed to keep the body healthy accidentally destroys healthy body parts. Damage to the nerve cells’ protective coatings results in a decline in brain and spinal cord function. MS is a condition that can cause unanticipated symptoms of varying severity. While some MS sufferers report feeling worn out and numb, more severe cases can result in paralysis, visual loss, and impaired brain function. What is multiple sclerosis? Multiple sclerosis is an autoimmune infirmity of the central nervous system. Relapsing multiple sclerosis is the most-common type of MS. It is characterized by episodes of worsening neurological symptoms, or “flares,” followed by periods of partial or complete recovery. The symptoms of MS can vary significantly from person to person and range from mild to severe. The diagnosis of MS is made through a physical exam, imaging tests, and a review of one’s medical history. Treatment of MS usually includes supplements to reduce inflammation and slow disease progression. Other therapies, such as physical and occupational therapy, are also commonly used to manage symptoms and improve the overall quality of life. Causes of multiple sclerosis Understanding the causes of this condition can help patients, and their healthcare providers develop appropriate treatment plans.