Blog - page 5

Assets versus Liabilities

Darryl Bachmeier Sep 22, 2020 Finance

Assets and liability are considered the two main components of a business. It is also important in an individual’s personal life. Banks always ask for a statement of current assets and liabilities from their clients before providing them a loan. Why is this necessary? That’s because the bank needs a clear idea of your current financial position and check if you are capable enough for paying back the loan with interest in the foreseeable future. So it is of utmost necessity for an individual and also a company to have a clear understanding of what assets and liabilities mean. If you cannot differentiate between the two, then don’t worry. We will explain to you in detail what these are. So, stick with us till the end. What are assets? Let’s start with assets because it is easier to understand. Assets are things that you own, both physical and abstract. As...

How YOLO are You in Risk Tolerance?

Darryl Bachmeier Sep 20, 2020 Finance

You might have heard of YOLO (You Only Live Once) or that mantra of people who are making the most out of their lives. Living in this principle prompts you to do extreme challenges and take risks to attain ultimate happiness and satisfaction in life. Despite most people who regard this as a trend or “too illogical” to do, it can make us think about our risk tolerance. Generally, risk tolerance is our ability to take in uncertainties in life. This entails our level of patience in a waiting game and in making decisions. During waiting, we constantly evaluate as to whether to hold on or let go of something that will impact the way we achieve our long-term goals. The term risk tolerance is mostly associated with investing. It is the measure of how strong can you hold on to an investment for potentially greater gains. Your decision lies...

Relaxation techniques to liberate yourself from stress

Darryl Bachmeier Sep 18, 2020 Stress

What if we told you that there are ways to attain relaxation without emptying your wallets. All these techniques need is your attentiveness and a smartphone and you too can experience what it feels like to be liberated from stress. What is relaxation? Relaxation is the state of being free from any worry, stress, or anxiety. It is a method through which you can attain peace. Relaxation is not just sitting on the sofa and watching Netflix. It is a process of activating the relaxation mechanism of your body so you can reap its benefits. Benefits of Relaxation Relaxation has proven to have a vast number of benefits. Some of them are listed as follows: Lowering heart rate Lowering Blood pressure Relaxing muscles Sustain a normal range of blood sugar levels Increases concentration Elevates mood Reduces the release of stress hormones Reducing fatigue Lowering anger and frustration Reduces anxiety Types...

You’re Asking It Wrong – Questioning Techniques

Darryl Bachmeier Sep 16, 2020 Strategy

Questioning is a part of our life. We often seek answers to the things that we are not familiar with from a young age. Questioning also develops in our work life to get the information that we require to get our job done. Why should you learn these techniques? Questioning techniques are a vital skill to learn. Questioning techniques can help us to direct the sentence into a format to receive the proper answer that we need. It is said that you reap what you sow. If you ask questions the wrong way, you will get the wrong answers. This can complicate the situation, leaving both parties on both ends confused and dissatisfied. Engagement with others is increased via questioning and answering. Questioning techniques can help us articulate the conversation in our desired way in our personal lives, making it more efficient for us to engage others in conversations we...

Why procrastination costs you money

Darryl Bachmeier Sep 14, 2020 Finance

Procrastination is when we delay things that MUST be completed. Yes, some things must wait. For example, you must wait for cooperation, information, permission and etc. However, some things must not be postponed. Procrastination costs you money, more than you think. It is important to understand this issue and to use techniques that will prevent you from wasting your money. Most common reasons when procrastination cost you money There are thousands of examples out there that can tell you why procrastination cost you money. The best thing is to know that every time you postpone something, it can cost you money! We have compiled a list of the most common reasons when and why this happens. You will pay for penalties This can be a very severe reason. You may have forgotten to complete a card payment or to renew your driving license tags. You will have to pay a...

Bank of Mom and Dad

Darryl Bachmeier Sep 12, 2020 Finance

The bank of mom and dad. It’s like divine manna, instant ATM, unlimited loans with minimal to no interest charges. Sounds like an amazing thing, right? Yes if you are the child, but not if you are mom and dad. Wait, aren’t parents responsible for their children? Well sadly, nowadays, many children are growing up more entitled because they were “cradled” by mom and dad longer than what’s healthy. May it be out of love or out of pity, being unable to set the right boundaries in the bank of mom and dad is a recipe for bigger challenges coming. Self-reliance used to be a golden nugget that we learn out of need. However, growing up knowing that there’s always someone you can count on defeats it. And ironically, it’s your parents who forgot to teach you about it. All because the bank of mom and dad became open 24/7....

Coast Through Life with Confidence Through an Emergency Fund

Darryl Bachmeier Sep 10, 2020 Finance

Save up for the rainy day, they say. But now that there are more things we can spend on, it is increasingly challenging to put away those savings in lieu of present comfort. We now have more bills to pay. Our children are more exposed to luxuries than ever before. And it is harder to keep up with this fast-paced world. However, now is also the time that we need to be more prepared for emergencies. As it can easily deplete our resources if we don’t have a buffer for these uncertainties. To those who are overwhelmed by the 3 to 6 months’ emergency fund rule, taking baby steps is the key. The more challenging it is to build it, the better you are at putting value into your efforts. It takes time to see the value of something, and it makes us use it wiser. What is an Emergency...

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