Category Archives: Personal Finance

10 tips to be a successful leader at work

As a successful leader, if you meet all management functions on a computer, you must know it’s essential to have the ability to know your people. It doesn’t matter if you have a business or finance job. Here are some tips on how to be a successful leader which apply to most jobs.

Learn to delegate

As a leader, it’s your responsibility to know who will be the best choice for a particular task. To understand this, you must be attentive to the potential and limitations of each of your team members. A detailed analysis and a keen sense of observation are required. Delegating things to bring out the best of the person should help propel the team to success.

Lead by example

Each time you give a speech or advise to a member of the team to work in a certain way, or follow rules of work, you must ensure that you yourself preach by example first. You cannot expect team members come to the office on time if you yourself are late. Your teammates respect you more if they see that you are consistent with what you say and do. This strengthens a healthy relationship with your employees.

Learn how to motivate the team

As a successful leader, you must know how to bring the team up when there is a difficult task ahead or when the team has faced a setback. It is you who must intensify the focus on the task and boost the morale of all team members to motivate them. This requires a thorough knowledge of the team members and the ability to see the best of each.

Give constructive feedback

A member of your team may disappoint on occasion. Rather than simply pointing out all their flaws, learn to give feedback in a constructive way. This not only helps a person to correct his mistake, but also motivates them not to repeat it. It will help keep team morale high too.

Learn how to keep the team together

When you have a number of people who work with you as a team, there may be some clashes of ego or personal problems between them. It is your responsibility to find ways to keep the team in harmony and respect. You must understand each and every order to have no conflict within the team. Try the equal treatment to strengthen and move forward.

Take responsibility for your mistakes

The fact that you are the leader does not mean you’re perfect. There will be many occasions when you could be led to commit an error in judgment or you could make the wrong decision. Assume responsibility for your error. This attitude will seep and inspire each and every member of the team to follow your example. It would also be a display of great strength of character on your part.

Learn to communicate better

As a leader, it is extremely important that your point gets across clearly. Whether you’re addressing the team or a particular individual, you must be clear about your goals and objectives. In addition you should work on your body language. You must also learn how to be firm without being rude or offensive. Learning to give constructive feedback is essential in your leadership position.

Emotional balance

For you to be a successful leader, it is essential that you stay in balance. Do not let the success of a project go to your head and do not let a setback go to your heart. Only when you are in balance as a person, you will be able to do justice to your team and give them the kind of guidance they need.

Leave your ego aside

If you want to be a successful leader, then you must work in dealing with your ego. Being in power can corrupt you and you have to be very aware of the changes involved. Always remember that you are not perfect. If you have no ego problem, then team members also learn from you and will try to imitate your qualities.

Request feedback from your teammates

To keep constantly improving as a leader, you must be open to feedback from your peers. Keep an open mind to criticism and suggestions. This will help you get a more objective view of reality and will generate creative ideas as to how you can be more effective as a leader. Also, this would make the team members realize that their voices are being heard.

Credit Card Arbitrage: Look before You Leap

Many enthusiastic ad shrewd investors seem to have made good profits by utilizing the attractive offers of the credit card companies. However, credit card arbitrage may offer easy money; it must be used only when you are sure of the pros and cons.

All of us like to make some quick bucks or save some extra money and hence get drawn to methods that seem like an easy way to accumulate wealth. However, as is often said, nothing comes free in this world and it is unlikely that you will be able to make a lot of money without any efforts. This includes things like credit card arbitrage that promises fund at almost a zero cost, but before you jump at the extremely tempting offer, it’s important to understand what it means and how it works. Failing to do this will not only erode your profits, but in fact cost you much more than you can imagine affording.

Well, there are many people who make profit using credit card arbitrage and hence feel that this is a good way to get funds at low or no cost at all and make good profits. But is it really so? For a lot of people this may just mean a road to accumulate more debt and that too at a pretty expensive rate. You may not just end up paying through your nose, but also hurt your credit score badly. Therefore, make sure you understand carefully what you are getting into when you opt for this route to earn some quick profit.

How does it work?

The credit card arbitrage process is aimed at getting profits by using the low cost cash advance or balance transfer funds for investments in an option that gives good returns over and above any costs that you may incur. As arbitrage involves making a profit from the price differential of buying and selling an investment, to achieve a successful credit card arbitrage you will have to invest the money in an option that gives a return at substantially higher rates of interest that what you will be paying for. Therefore, you must find out some option that pays a considerable high interest rate so that you can invest the money into it during your initial offer period and when that expires, you can withdraw the money and repay the credit card debt and keep the rest balance as your profit.

Sounds great, doesn’t it? Well, yes, but the situation is quite hypothetical, especially in today’s economic world. Though people favoring this method feel that this provides capital at very nominal costs, finding reliable investment options that are likely to offer returns higher than credit card charges are not so common these days. Well, if the borrower does get a chance to pay back on time and make a profit, then it will be beneficial as he can boost his credit score also.  However, this can be a big gamble and can prove very risky. Let us take a look at some of the dangers associated with this method.

Online Loan Risks Worth Taking – Take a look

Low credit or more popularly referred to as bad credit is often the most undesirable state to be in when you are faced with an emergency and are looking for loans. Had it been some 20 years back, getting a loan was almost impossible with a bad credit score. However, in the current time there are a lot of lenders who have come up to cover the gap which was created with none of the banks operating in the space. However, this leads to another question- How to select the ones which are reputed and best suited to our requirements and the financial situation.

Working out the terms of the loan

It goes without saying that if you have bad credit, taking a loan which calls for the lower monthly installment will be the best situation to be in. However, at times one has to compromise with the loan terms offered by the lenders. Loans with bad credit are generally the high risk loans where the pressure on the borrowers is of paying a higher amount in the form of interests while the lenders are skeptical about the fact whether the borrowers will be able to pay the amount or not.

So with the bad credit short term loans like the payday loans it always, makes a lot of sense to accept their terms and conditions only when you can make the repayment on time and understand the merits and demerits of the loan.

  • Immediate access to money

One of the biggest factors associated with these loans is the approval rates on them. There are hardly any lenders who deny the loan request for the payday loans. With no collateral and a bad credit getting a sure shot approval always attracts customers towards this loan. However, all is not that great. There are considerations which need to be taken.

The amount of money one can get under these loans is extremely low and can extend for up to $2000. These loans can be granted within hours of submitting the application and are best suited in case of emergencies where one needs small amounts of money from

However, the real game begins when it comes to the repayment of these loans. Based on the paycheck, these loans carry an interest rate as high as 30% for the period of 14-30days. For an amount of $1500 an individual will need to pay a sum of $1950 with the interest and the fees. This means that they will be left with little money to deal with their monthly expenses. This in the grip of payday loans is often seen taking multiple of these loans.

  • Person 2 Person (P2P) Loans

There are loan sites which connect the borrowers to the lenders directly. Borrowers put their loan taking criteria which if the lenders agree; the two parties contact each other and go ahead with the loan proceedings. These loans are extremely high risk for the lenders as there is less chance of them getting any respite if the borrowers default.


  • Cosigner Loans

A third option is a cosigner loan, which is arguably the most affordable option when seeking a personal loan with bad credit. The interest rate is kept low by a cosigner, who guarantees the monthly repayments will be made without fail. This means the degree of risk a lender faces is effectively removed, and because of this a low interest rate is charged.

In case of the bad credit loans with a co-signer, the risk of the lenders is reduced to the minimum. The lenders usually agree for a lower interest rate and this means a lower monthly repayment for the borrowers much to their satisfaction. In case of defaults, lenders have all the right to put the cosigners into a tight spot by forcing them into the repayment of the loans which the actual borrowers failed to do.

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