In the simple interest calculation method, the interest is calculated on the original principal.In the compound interest calculation method, interest is calculated on top of the previous interest.daily count Depending on the number of times it is calculated annually, there may be a lot of difference.The power of compounding can quickly grow your savings (or […]
What is interest?
When you borrow money, you usually pay “interest”.When you deposit money in a savings bank deposit account or checking account, the bank pays you “interest”. Point Interest is the cost of money over a period of time.If you borrow, you have to pay interest. If you lend, you have to pay interest.The interest rate is […]
Interest calculation (yearly, monthly, daily)
Interest rate period when calculating interest You need to know the frequency of interest calculation and the payment schedule.The interest period is usually expressed as an interest rate for one year, but some also express it in other terms.Interest calculation frequency is daily, monthly It means how long the interest is calculated every year.The payment […]
Why do you need an emergency fund?
Life doesn’t always turn out the way you want it to. Accidents natural disasters; job losses; Problems such as health problems often strike unexpectedly.In times like these, emergency spending can help us. Key points What is emergency spending? The reason for having an emergency fund Unexpected expenses – from medical bills to important home repairs. […]
How to Manage Personal Finances During a Recession?
While managing your personal finances is important in normal times, managing your personal finances during a downturn is vitally important. One of the best ways to get through these economic downturns is to be prepared. If you manage your finances well and save money during good times, it will be easier to get through these situations. So saving […]
The Importance of Customer Feedback in Business
Customer feedback is a valuable tool for any business. Whether it’s positive or negative, customer feedback can provide valuable insight into how well your business is doing and how you can improve it. Customer feedback can be used to measure customer satisfaction, identify customer needs and concerns, and even inform decisions about product design and […]
The Pros and Cons of Starting a Franchise Business
Starting a business can be an incredibly rewarding and exciting experience. For many entrepreneurs, franchising provides a unique opportunity to start their own business while also benefiting from the support of a larger organization. The pros and cons of starting a franchise business so you can decide if franchising is the right choice for you. […]
Habits that will save your money
It’s true that planning your spending and sticking to it is difficult. You can try to take some time to make this habit. But when it becomes a habit, you will start to feel the benefits of financial security from this practice. Here are 8 habits that will help you manage your spending and savings. […]
What should you do when you lose your job?
Losing a job can be one of the worst things that can happen to you. Especially when you lose your job through no fault of your own. But at the same time, job loss can also be considered a good opportunity to reevaluate your career and life goals. If you lose your job, you will […]
Top 10 Business Ideas for 2023
The future of business is ever-evolving, and staying ahead of the curve is essential for any entrepreneur looking to make a mark in the world. With the new year quickly approaching, it’s time to start planning for the future. From leveraging emerging technologies to tapping into the gig economy. 1) Virtual Reality Virtual reality (VR) […]