Month: August 2018

TIPS ON HOW TO SURVIVE JOB LOSS

Do not waste time mopping

It is normal to sit back and wonder how you found yourself in this position. It is very tempting to throw a pity party many times, but it is best to remember even as you are there pitying yourself and your situation, time is passing you by. If you had savings which you are consuming, it would soon run out if you do not do something about your situation. It is possible to get used to sitting around doing nothing but wish things were different. It is easier to start looking for a solution immediately than when too much time has passed. You also need to seek additional hints on how to survive joblessness.

Change your lifestyle immediately

If you loved going out for drinks with friends regularly, it is time to cut this to a few times less than you used to. This is because you are now spending but not earning. Meeting up with your friends is a great way to destress and possibly network. The more people know of your dilemma, the more likely you will find a solution. This, of course, depends on the type of company you keep. If you have supportive friends, they will find a way to help you. They may even shoulder the bills until you get on your feet. However, you need to know one can buy you drinks for so long. Do not abuse their hospitality. They may be a great resource when it comes to giving additional hints on how to get back on the job market.

Clear your bills

If you have pending bills, ensure you pay them before you run out of your savings. If it means paying them in advance, even better. Stock on food and possibly fill up your car. This way, when you run out of money, you have food, bills paid and you can move even if you are broke should you get called for an interview.

Start looking for a job immediately

If you have the right skill set and education, it is time to start looking for another job. Even if the job offered does not have the same perks as your previous one, it will tide you over. Do not be too choosy when it comes to the job unless you are confident your finances will be enough to keep you going even as you wait out for a better job opportunity. You do not have to settle for less if you can survive longer without a job. However, if your situation is dire, take what is on offer for survival but keep looking for a job that is worth your skill set.

Business Funding Depending on Your Credit Score

Banks are the first place entrepreneurs visit while thinking about starting an organization. Even though bootstrapping or self-financing should always be considered the first option. When you have your own money, you’re tied to the business. On a later stage, investors consider this a good point. The first step in the loan approval process is checking the credit score of the borrower. When you give your loan application to the lender, it first checks your credit score, and if it’s satisfied with the credit score, then only it proceeds for further processing of your application.

The article published here focuses on how a credit score can affect your business in financial funding. What exactly is a credit score? Why is it calculated?

A credit score is a risk analysis. A credit score is checked to ensure your financial stability. Since it’s so important, consider this:

  • A good credit score means you’ve shown yourself to be a financially responsible individual. It shows you’ve enhanced borrowing capacity, thus increasing your limits. It can fetch you easier approvals of rentals and apartments and even can play a role in finding a good job.
  • The credit score determines your ability to obtain credit; you’ll need a good credit score to qualify for credit cards giving attractive offers.
  • While the history is searched, they’ll be able to find the interest rate which you’re capable of repaying. Getting an insight of the responsibility you can handle.

Banks are the first place entrepreneurs go to while thinking about funding their organization. A traditional bank provides two kinds of financing options – working capital loans and funding. The working capital loan is the loan required to run one complete cycle of revenue-generating operations. Funding from the bank would involve the usual process of sharing the business plan and the valuation details, along with the project report, based on which loan is sanctioned. Published here in our website is the article which includes steps to increase the credit score.

Here are few steps to main a good credit score:

Plan it out: Track the credit records now and then and come up with a plan.

Keep credit cards open: After you pay the debt off, if you consider clearing or closing your credit card, it’s like clearing your history of credit, having a history, whether bad or good, is certainly better than having no history at all. To tackle this measure, leave the account at zero, this improves the credit age you receive, which will certainly benefit you in the days to come.

These are just a few important steps in maintaining good credit score, have more of them published here in the article in our website.