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Category: FINANCIAL SECTOR MARKETING (Page 1 of 2)

Why Business Owners Should Make Accurate Financial Projections.

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Why Business Owners Should Make Accurate Financial Projections.

Every small business owner wants to make a profit. You invest time and money into your business to earn revenue, but how much cost and income is realistic for a healthy business? Individual financial reports can shed some light, but combining them into a financial projection can put everything into perspective. Today, Cymru Marketing Journal offers some tips and resources to guide you through the process.

First, What Are Financial Projections?

Financial projections forecast your business’s expected expenses and revenue. One-year, or short-term, projections are usually forecast by month. Long-term financial projections usually cover a three-to-five-year timespan.

How Can You Create These Projections?

New small business owners don’t have previous data to use for projections, but researching industry and overall economic trends can provide workable numbers.  Existing companies use data from the past three years. Several different financial reports go into your financial projections.

It’s important to use realistic numbers when creating your forecast. Otherwise, they’re meaningless. Also, you need to invest in accounting software that works for your business and will allow you to cultivate deeper insights without paying a fortune in registration fees.

Projected Expenses

Some monthly expenses are fixed, such as rent and other overhead costs. In some months, you may spend heavily on marketing and inventory purchases, while those costs may be minimal in other months.

Expected Revenue

Many businesses experience predictable busy seasons; lawn care companies are busiest during warm months, while some retail stores make many sales near holidays. Study previous sales numbers or market potential to estimate how many items you’re likely to sell and their attached price tags.

Cash Flow

Expenses sometimes come months before the resulting revenue. Retail stores must order seasonal inventory months before it’s sold. Also, some companies allow clients to purchase on credit with payments due when statements are distributed. Knowing when cash goes out and comes back into your bank account is crucial.

Balance Sheet

This report includes all business assets and liabilities. Inventory, equipment and accounts receivable are examples of assets, while accounts payable and other debts are liabilities. The balance sheet total shows the difference between the values of your assets and liabilities and can be a positive or negative number.

Profit and Loss Statement

This statement uses data from your projected expenses, expected revenue, and cash flow reports to estimate potential profits or losses.

Break-Even Point

Experts understand that it may take some time for new companies to break even. Knowing when your business should become profitable gives you a framework for assessing your business’s viability.

Are Your Accounting Skills Up to Par?

Not every entrepreneur knows about running a business and its finances. However, it’s not too late to learn. Online degree programs provide flexible ways to learn new skills while operating your company. An accounting degree helps develop financial skills, including making realistic predictions. MBA degrees teach more in-depth business acumen. Earning an online degree can help you make better business decisions for a healthier company.

Why Are Accurate Financial Projections Important?

For-profit businesses pay taxes. Most states require annual reports and tax payments; failing to do so may incur fees and penalties. Your business license can even be revoked. Accurate projections allow you to set aside monies to pay these taxes.

In addition, lenders need to see accurate, detailed financial projections as part of your business plan. Making and regularly updating your projections allows you to know and adjust your company’s financial expectations.

What Does Your Forecast Say?

Accurate financial projections provide many benefits to your business. Online degree programs and the right software can provide the know-how and how-to, and the time spent making these projections can make your business stronger. Whether you are starting up or an already established business looking for more exposure, Cymru Marketing Journal is here on hand to take care of all your marketing needs. We will write content and advertise your business to give you added help to generate more leads. We’d love to hear from you.

#Business #BusinessFinance #Cashflow #BalanceSheets #FinancialProjections #ProfitandLossForecast #ProfitandLoss #Accounting

Poverty & Mental Health.

Content:

  • 1. Poverty & Mental Health
  • 2. Mental Health
  • 3. Caring
  • 4. Robbing Peter to Pay Paul
  • 5. Social Experiment
  • 6. Grim Outlook
  • 7. Russian Invasion
  • 8. Depression
  • 9. What is money and how are taxes being spent-
  • 10. Wishful Thinking
  • 11. Suicides
  • 12. Suicidal thoughts
  • 13. The sad truth is people commit suicide because of debt
  • 14. Final Thoughs From The Editor
  • 15. Useful Links – Financial Matters
  • 16. Useful Links – Health Matters

To understand poverty and the consequence of how our monetary system affects mental health, we first have to understand currency and how debt is created. https://marketingagency.cymrumarketing.com/2022/04/09/the-hidden-secrets-of-money/

Mike Maloney – Hidden Secrets of Money.

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Poverty & Mental Health.

1. Poverty & Mental Health are on my mind. So I am reading this article: https://londonlovesbusiness.com/chancellors-family-accused-of-sheltering-a-large-part-of-their-income-from-uk-taxes/

I believe there are rules for one and not for the other? Did you know the federal reserve is owned by closely guarded corporations that get rewarded 6% of the world’s currency? (See Mike Maloney – Hidden Secrets of Money). Thus people who have a high net worth are given incentives to keep the economy wheels churning.

https://www.independent.co.uk/news/uk/politics/rishi-sunak-wife-tax-treasury-b2053923.html

Ms. Murty was quoted as saying…

“I understand and appreciate the British sense of fairness and I do not wish my tax status to be a distraction for my husband or to affect my family, for this reason, I will no longer be claiming the remittance basis for tax. This means I will now pay UK tax on an arising basis on all my worldwide income, including dividends and capital gains, wherever in the world that income arises. I do this because I want to, not because the rules require me to.”

(So my question is why has she never voluntarily paid the taxes before and it is only because her husband and herself are in the spotlight that she has changed her tune)? Imagine how the taxes of all NON-DOM could help the poor?

https://www.itv.com/news/2022-04-08/sunaks-wife-akshata-murty-to-pay-uk-tax-on-foreign-earners

This is comment is typically how one would attempt to save face. So why is it that NON-DOM rules exist, it obviously is to protect the rich?

This is one big game of Monopoly and who can have the most real estate and wealth at the expense of the rest of us.

To think 99% of the population wants to not only survive but live a happy life, why is it that the powers that be want to squeeze every last ounce of happiness out of us?

Nobody wants to struggle to pay bills or worry about where the next meal is going to come from. Yet in reality, it is happening.

https://londonlovesbusiness.com/price-of-milk-butter-and-cheese-are-set-to-soar-amid-rise-in-energy-price-cap-cost-of-living-crisis-and-the-war-in-ukraine/ I joked with my daughter that we could raise chicken and the following day it was announced there is going to be a shortage of eggs.

Mental Health.

2. Mental health Statistics show a growing body of evidence, mainly from high-income countries, that there is a strong socioeconomic gradient in mental health, with people of lower socioeconomic status having a higher likelihood of developing and experiencing mental health problems.

https://www.mentalhealth.org.uk/statistics/mental-health-statistics-poverty

Caring – The powers that be do not care.

3. Caring – People only care if they are directly affected by something or someone. This could be their beliefs in which they would be advocates or for people that they know such as family, friends, and sometimes even co-workers. It is the social connection people have with one another that allows them to show emotion to another person. The only other time people will care is they are on the job and must, i.e. Doctors & Nurses, Firefighters, Care-workers (who are doing good for society as a whole rather than getting personal), or if a person randomly witnesses someone that needs their help like for example if someone was injured or dying. Volunteering is an act of kindness but does not mean necessarily you care about an individual but more so about a cause. https://disabledentrepreneur.uk/category/emotions/ Politicians have to show they care because they would not have a job if they didn’t not only that it would cause a public uproar.

I once did a social experiment to get support from my family for my business and not one person bothered sharing or interacting. I drew the conclusion they did not want me to succeed.

People living below the breadline.

4. (Robbing Peter to Pay Paul).

Around 5.2 million people claimed universal credit as of September 2021, a decrease on the record-high six million recorded at the beginning of the year but still a marked increase compared to pre-Covid levels, which were around three million.

Anti-poverty experts welcomed a £20 weekly increase in payments for those claiming universal credit (UC) and working tax credits, introduced by the government at the start of the lockdown last year.

But the government cut payments back to pre-Covid levels at the beginning of October, despite widespread condemnation. That is a deduction of £80 per month and with everything rising including food and fuel costs how on earth is the government expecting people to survive???

If people were struggling before the increase what makes the government think they are not struggling after the decrease?

How many people are at breaking point or have been driven over the edge?

Does the government care that some people are in sheer distress and do know how to manage their money or know-how to survive? Yet the NON-DOMs of this world can get away without paying taxes. If the NON-DOMs did not hoard money just like the millionaires and billionaires and actually had wage caps the world would be a better place.

Social Experiment.

5. Social Experiment – I am always testing how well my articles do and my social media marketing efforts and thought to do a social experiment to see how well I would compete with a high profile person sharing their posts on LinkedIn, obviously I do not have the same amount of followers as this said individual but looking at his previous posts, for me I did not do too bad, in fact, I did better than some posts his entourage had written in the past.

So I have come to the conclusion I can easily be a social media manager for the posts and articles that this individual churns out but I do not get the same income, anywhere near in fact, to what these people get. I am certainly not going to beg or go cap in hand. I am confident though because I did share a post the powers that be zoned in on me, so they will know who I am talking about. Put it this way, he is very high up the ladder with platinum blonde hair and talks Queen’s English. My point is if I can get this article to be seen, I am open to opportunities to be hired for my services. such as content writing and social media management.

Grim Outlook

6. Grim Outlook – Russia is condemning the west and has threatened food shortages because of all the sanctions including exporting wheat. It is being predicted that we will be like Venezuela where families have had to make grim choices to survive. Venezuela has faced what some consider “the Americas’ greatest single humanitarian crisis.” The nation’s economy and the political structure collapsed even though it possesses the world’s largest known petroleum reserves. More than 5 million people fled the country and an estimated 91 percent of those who remain life in poverty. Nearly a third of all Venezuelans—more than 9 million people— are food insecure or malnourished. https://www.dailymail.co.uk/news/article-5449023/Venezuelans-eat-rats-dogs-economy-nosedives.html

“No matter how hungry I am I will not eat our cat”.

Therefore what is the future outcome for the poor who will have difficulty putting food on the table?

How does the government expect people to survive?

I am concerned for the people that will have serious mental health issues because of the powers that be playing God with people’s lives.

Everyone on this planet is here to survive and to be happy. If you take away people’s happiness then you take away people’s reasons for living.

I read all these online websites, white papers, and jargon about suicide but all it is is black pixels on a white background, all these people that go around stating they are experts would be useless and powerless in talking someone out of suicide. It is all noise, smoke, and mirrors.

P#tin is playing God.

7. Russia’s invasion of Ukraine threatens to spark a global food crisis, as simultaneous disruptions to harvests and global fertilizer production are driving up food prices and sending economic shock waves throughout the world. 

Ukraine still has some 20 million tonnes of wheat and corn left to export from the 2021-22 season that cannot be exported because Russia is blockading ports on the Black Sea and the Sea of Azov, leaving 100 foreign vessels stranded.

https://news.sky.com/story/ukraine-war-why-the-russian-invasion-is-leading-to-global-food-shortages-12572658

Depression.

8. Depression I will be the first to admit it, I suffer from depression and have done so for many years. I have managed it to the best of my abilities, but occasionally I will have my dark days. I will try to keep myself busy and have a dedicated website that I am the Editor of www.disabilityuk.co.uk which forwards to www.disabledentrepreneur.uk

Whilst writing about this I write with a heavy heart, this is NOT how we are supposed to live and this is not how I am supposed to live.

Do the powers that be, forget that we came to the earth with nothing and we will leave with nothing. So why be Greedy?

The powers that be obviously do not have a conscious.

Will the people that have caused all the atrocities to live fruitful lives or will they come back onto this earth to suffer a fate worse than hell? I believe they will come back to earth and suffer. Have they not thought that Karma can send them to earth to suffer in their next life. Yes, I hear you there will be the ones that do not believe in God or life after death, but what if their belief system was wrong and we are spiritual beings in physical bodies and that when we die we turn into energy or we teleport into different dimensions, (Quantum Entanglement) or worse still come back to earth to suffer another 80/90 years?

Do you think it is a coincidence there is only 1% of the richest people on this planet or is it there is 1% of pure evil? This then shows there are 99% of good people are being treated badly and are maybe only on this planet to be given a second chance and do good for the world. I for one would never want to be categorized be part of the 1% wealthy and would never want that sort of wealth, in fact, I am on the opposite side of the spectrum, yes I want my own home, have a nice car, heal my mind, body, and soul so that I can travel the world whilst I am still on this planet, but other than that I just want to live a happy, peaceful and happy life without any worries.

Money vs Currency

9. What is money and how are taxes being spent- I would love to see how the British taxpayer’s money is used and for what. I would only use w#r in defense not to start them. I would stop making money off the back of poor people to suit my own ends. The British public does not get a say in what happens with our country, it is all decided behind closed doors.

If you look at the Oligarch’s bank accounts that have been frozen and the Russian Banks that have their assets seized how is the P#tin W#ar still being funded? One needs to read between the lines to know what I am saying here. What is going to happen if the debt ceiling collapses or our bank accounts get frozen because they can, what then? What is happening with all the frozen currency and bank accounts where has the currency gone?

The power to vote – would you allow uneducated people to run your business, of course, you wouldn’t, so why do you give uneducated a chance to vote that do not understand the first thing about business, economics, or our monetary system?

Brexit – Furthermore, I could not vote because I was in the hospital on the day we were voting to stay or leave the EU, I wonder how many other people never voted that day? My point is that this tells me the voting was not accurate and the final numbers were decided for us.

The world is a very evil place, and although I do say there are many good people in this world, there are the ones that own the federal reserve that wants to destroy you and take away any prosperity. The scammers, the thieves, and the con artists that give you currency in one hand and take it away with the other. The people that lie in wait so that they can reel you in with the loans and credit cards to watch you suffer later. The financer (Mike Maloney) aptly explained the meaning of currency and said if there was only one dollar in existence and you borrowed it where would you get the second dollar from to payback of the first dollar plus interest?

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Wishful Thinking.

10. Wishful Thinking – I wish for this Dictator that caused these atrocities an eye for an eye and a tooth for a tooth” as it is said in the Bible, Book of Exodus 21:23–27. It is not for me to cast judgment but for God to punish people for what they have done wrong in the world that preys on the vulnerable.

I know the outlook looks grim for most of us but we can learn from this and teach people how to survive and find happiness. (If you find my article insightful please share it).

I have been given an opportunity to motivate, empower, teach and spread awareness. If the powers that be can see how well my articles are viewed they should give me a job. I should be rewarded for the good I do and not be punished by the greedy.

I have lived through my own war and have a battlefield of scars and one day when the time is right I will share my story, but for now I want to focus on what is happening in the world today and get people to notice that the world cannot suffer at the hands of the greedy minority. Too many lives are being lost and people are suffering from mental health and grief.

Suicides.

11. Suicides I have a question for the wealthy or the powers that be, or the 1%, if everything they owned suddenly was taken away from them and they found it hard to put food on the table and no matter what they said or did never got better but perhaps worse, how would they handle life?

Would they stand in the mirror every day saying “you can do this”? or would they give up the fight?

Not everyone has a strong mind., not everyone knows how to survive and some try to drown their sorrow in alcohol or take recreational drugs, or someone simply just give up?

12. Suicidal Thoughts.

I will admit I have had suicidal thoughts in the past over different life-changing events, but somehow have found the courage to battle on.

I have never forgotten the people that hurt me, tried to cause hardship, criticize me, or humiliate me. I may have forgiven, but never forgotten.

At one point I felt I was in a war zone of my own. I am here today not because of any support workers or from friends or family because the few that knew what happened in my life have not been there for me. I am only starting to tell my story now and I have learned one thing in my life, never rely on anyone and never tell them all your secrets and be careful who you trust or befriend. I am here because I know I am on a mission, but I do sometimes question my strength.

I am slowly starting to heal. With what is going on with the world I am now thinking that the only thing that is left for me is neuroplasticity, learn it, practice it and teach it. There is too much negativity in the world that suck out all our aspiration and happiness so we need to find a way to conquer and battle on, with positive thoughts. https://disabledentrepreneur.uk/category/neuroplasticity/

13. The Sad Truth & Stories of Suicides Due To Debt.

New research by Money and Mental Health Policy Institute, has found that 2.5million people with mental health problems who fell into debt during a pandemic considered suicide.

https://www.credit-connect.co.uk/news/2-5m-people-with-mental-health-problems-who-fell-into-debt-during-pandemic-considered-suicide/

https://www.huffingtonpost.co.uk/entry/problem-debt-pushing-people-to-consider-suicide-shocking-new-report_uk_5c054239e4b07aec5750f7bd

The sad truth is people commit suicide because of debt.

People who are unhappy, helpless, and scared, cannot cope with the same thing day in and day out and nothing they do to make things better materializes so one day they lose the will to live and the people that suffer after they go are their friends, family, and the cycle continues.

https://www.dailyadvent.com/gb/news/989709f52d5e890ed73969ecdd67f8c1-I-was-suicidal-and-100k-in-debt-after-losing-my-dream-job-on-CBeebies

https://www.business-standard.com/article/pti-stories/debt-ridden-businessman-commits-suicide-113050500228_1.html

https://www.manchestereveningnews.co.uk/news/uk-news/heartache-debt-ridden-dad-who-16625338

https://www.moneysavingexpert.com/team-blog/2019/10/i-ran-up-p1000s-in-debt-while-suffering-from-depression/

https://www.essexlive.news/news/essex-news/speak-up-essex-boys-suicide-2705056

https://www.forbes.com/sites/sergeiklebnikov/2020/06/17/20-year-old-robinhood-customer-dies-by-suicide-after-seeing-a-730000-negative-balance/

https://www.independent.co.uk/life-style/health-and-families/suicide-samaritans-mental-health-anxiety-depression-alcohol-drinking-debts-a9660101.html

https://www.dailymail.co.uk/news/article-2242259/Student-Toby-Thorn-killed-just-8-000-debt-wrote-suicide-note-BANK-letter.html

https://www.birminghammail.co.uk/news/uk-news/dads-suicide-note-revealed-plea-14932579

https://www.thesun.co.uk/money/7091971/crippling-debt-drove-our-sons-to-suicide-but-it-could-have-been-prevented/

Final Thoughts.

14. Final Thoughts From The Editor.

The way I see things is if you want to succeed in this world is one of two things, (1) you either have to rub shoulders with the people that matter and offer value or (2) have something that other people can relate to.

I look at these big agencies and the billionaires that own them yet profiling the CEOs they do not have a large social media gathering which makes me wonder what they did to get where they are today considering I am working at the same speed, probably doing the same job with a larger following than them, minus their payrolls?

I am available for content writing hire and social media management.

Useful Links

15. Finacial Matters.

16. Health Matters.

I was going to put a paywall on this article similar to what a lot of online newspapers are doing as I would love to campaign and speak on behalf of people on low incomes, but cannot afford to do it alone on my own salary. I know the majority of us are all in the same boat and we are all here to survive. I do have an advantage though I have a platform to put my point across and a large network of connections on LinkedIn connected to some very affluential people so my voice will be heard. I just need some support to be able to campaign further. If you do not want to hire me, please use the affiliate links embedded in the site or spare the equivalent of a cup of coffee for £3.00 this will go towards advertising and marketing costs. My next topic of discussion will be “How To Become A Billionaire”.

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#poverty #mentalhealth #depression #debt #hiddensectretsofmoney #mikemaloney #suicide #suicidalthoughts

Hidden Secrets of Money – Mike Maloney.

HIDDEN SECRETS OF MONEY

Michael Maloney is a financial expert, he is the host of the smash-hit video series Hidden Secrets of Money, the author of the bestselling precious metals book Guide to Investing in Gold and Silver.

Mike is one of the world’s most highly regarded investment education companies and a global leader in gold and silver sales.

Mike has traveled the world sharing his knowledge and passion for economics and monetary history with audiences from Silicon Valley to Wall Street, from Hong Kong to Rome.

Mike has researched financial markets, monetary history, and global economics, Mike discovered that the same economic cycles kept repeating over and over throughout history, from ancient times to the modern-day.

Mike is quoted as saying “For 2,400 years as people have lost faith in fiat currencies, they have turned to ‘real money,’ gold and silver,” and “Today the stage is set for a worldwide ‘gold rush’ to the safe haven of precious metals just when supplies of those metals are precariously low. The opportunity for those who position themselves accordingly, ahead of the crowd, is like none we will see again in our lifetimes.”

INVEST IN GOLD AND SILVER, CLICK THE AFFILIATE LINK BELOW TO SIGNUP!

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HIDDEN SECRETS OF MONEY

I have purposely not put these videos in chronological order because you need to watch the first video to get a grasp of what Mike is teaching. Mike teaches us about the money system and what is money and what is currency, yes there is a difference and how the global economy works.

The “Hidden Secrets of Money” videos are easy to understand and the concept of money should be taught in schools. We should all know how money and currency are created and learn about debt ceilings and deficit spending. This is also good for budding economists/financiers contemplating careers in the financial world.

About Mike Maloney.

Mike Maloney is the host of the smash-hit video series, “Hidden Secrets of Money”; former Rich Dad/Poor Dad advisor; author of the best-selling precious metals book.

Final Thoughts From The Editor.

If you see what is happening today with P#tins W#r, with all the sanctions, have you wondered how these people (Oligarchs/P#tin) are trading/living if their bank accounts are frozen?

If you look at the bigger picture w#ar is big business, the production, manufacturing, distribution of artillery, ammunition, staff, and operations, etc. Furthermore, the owners of the Federal Reserve get an annual 6% commission, on our hard-earned sweat and labor, yet no one knows who these people/corporations are because it is a closely guarded secret.

We are pawns in a massive game of monopoly.

We do not know what the future holds, banks have been known to close.

https://marketingagency.cymrumarketing.com/2018/08/03/high-street-banks-closures-7/

What would you do if your bank closed?

I am not an economist, I simply write articles on the financial sector and am an affiliate marketer, affiliated with BullionVault and CashPlus Bank.

“I believe in never keeping all one’s eggs in the same basket”.

“If you found this article useful, please share it with your friends family, and on social media. Let’s help each other build a brighter future”.

“The farther back you can look, the farther likely you will see into the future.”― Winston Churchill

Disclaimer – At Cymru Marketing Journal/UK Website Designers, we are affiliated with BullionVault and CashPlus Bank and may get a commission on each person that buys bullion or sets up a business bank account. If you are a digital marketer or wish to monetize a website/blog/article, just follow the “BuullionVault – Link or “CashPlus Bank Business Account” and start advertising these businesses today.

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Gold, Silver, Platinum Prices & Investments.

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Gold, Silver, Platinum Prices & Investments.

GOLD PRICES have hit a record high, rallying after speculators cut their bullish Comex bets but gold ETFs continued to expand as European stock markets cut earlier gains amid fresh Russian attacks on Ukraine’s capital Kyiv, writes Atsuko Whitehouse at BullionVault.  

The Ukraine w#r coming to the 1-month with no ceasefire or end in sight, gold prices in US Dollar terms rose to $1935 per ounce after dipping below $1920 last Monday morning.   The spot market also rose for Wholesale Bullion for UK and Euro investors, reaching £1465 and €1750 respectively.  

Ukraine has seen their growing shares in issue need an additional 67 tonnes of bullion backing, expanding their aggregate holdings to 1,594 tonnes, the biggest since March 2021.  

Oil prices meantime surged, taking Brent crude 14% higher since Wednesday, as the European Union was reported to be considering a Russian oil embargo this week. US President Joe Biden is due in the region for Nato, Group of 7, and EU summits, aiming to agree more steps against Moscow.  

Aluminum prices jumped 5.1% after Australia announced an immediate ban on alumina exports to Russia. Russia accounts for about 6% of the global supply of aluminum and Australia supplies almost 20% of Russia’s alumina, the key ingredient for producing the industrially useful metal. The price of palladium – of which Russia accounts for 40% of the world’s total mine production.

Buy Gold with BullionVault.

What is the cheapest most efficient way to buy gold?

There are many ways to buy and own gold. Coins and small bars offer a popular but costly way of doing so. The coin’s price is only one element of its total cost. Think about how much money you will get back when you sell.

How BullionVault enables you to buy gold in a cheaper, safer and easier way.

  • You buy gold in 1 gram increments within LBMA approved wholesale bars
  • You pay prices that are closer to the wholesale market price.
  • No VAT or Sales Tax.
  • No delivery costs.
  • Your gold, silver, platinum & palladium is stored in professional vaults you choose where.
  • Professional vaults mean you pay the lowest storage & insurance costs.
  • Buy & sell 24/7 and instantly have funds back in your account ready to be withdrawn.
  • UK users can make their first purchase up to £5k with a debit card.
  • 5* TrustPilot rating & reviews.
  • BullionVault manages $3 billion in client property for over 100,000 users.

BullionVault lets private investors around the world access the professional bullion markets. You can benefit from the lowest costs for buying, selling, and storing gold and silver.

BullionVault is the world’s largest online investment gold service taking care of $3.8 billion for more than 100,000 users. It is part-owned by both GBIT and Augmentum Fintech plc.

Bars are stored in professional-market vaults in Zurich, London, Toronto, Singapore, or New York. You choose where. Because of our size, you benefit from the low storage costs we have negotiated, which always include insurance.

You can sell at any time, without penalty, and your money will be wired the next business day. You can also withdraw your bars.

BullionVault is quick and easy. You could own any quantity of physical gold and silver bullion in about 2 hours.

PRICES.

Silver

Prices for silver, increased by 0.2% to $25.03 per ounce which finds an annual demand of nearly 60% industrial uses.

Platinum

Platinum, finds two-thirds of its worldwide demand from industrial uses led by auto-catalysts, rose 0.2% to $1029 per ounce.   “This renewed safe-haven buying in the form of ETFs and physical investment demand will keep prices elevated so long as the Fed does not drastically hike real rates into positive territory,” said Swiss refining and finance group MKS Pamp in their recently revised 2022 precious metals forecast.  

NOTE FROM THE EDITOR: BullionVault is one of the most trusted businesses on the web, this is because thousands of thoughtful and wealthy people all over the world are turning to gold, silver, platinum, and palladium – and to BullionVault – as a response to currency expansion running out of control. This article is for information purposes only. You need to do your own research and due diligence on investing your money. No Person writing or promoting this article or the owners of this site have acted, directly or indirectly, as a broker, finder, or financial advisor for Purchaser in connection with this article. However, this article has affiliate links and the owner (the affiliate partner and publisher of this site) may receive a commission if the reader decides to register and invest with BullionVault.

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#bullionvault #buygold #buysilver #buypalladium #buyplatinum #investingold #investinsilver #investinpalladium #investinplatinum #investingingold

Vishal Garg, US CEO of Better.com Fires 900 workers.

VISHAL GARG CEO of BETTER.COM

Vishal Garg, US CEO of Better.com makes 900 workers redundant just before Christmas on a Zoom call.

The chief executive of a US mortgage company has drawn criticism after he reportedly fired 900 employees on a Zoom call.

“I come to you with not great news, if you’re on this call, you are part of the unlucky group being laid off. Your employment here is terminated effective immediately. The market has changed … we have to move with it in order to survive. Ultimately it was my decision and I wanted you to hear it from me.”

Firstly the employment laws in the UK differ from the US but here in the UK if you want to make an employee redundant you have to follow strict protocols.

Severance (Redundancy) payments are usually outlined in an employment contract, along with other things, like whether you get paid for unused vacation (holidays) if you leave a company before your contract is up, how much notice a company must give you before they terminate a contract and more.

Unfortunately, the vast majority of Americans do not have an employment contract. In that case, they may not even know if they’re entitled to severance at all, according to Farnaz Kashefi, a California attorney who specializes in labor and employment law.

In the UK notice period includes:

Your notice period during redundancy

This advice applies to England

If you’re made redundant, your job won’t end straight away – you’ll get a paid notice period.

You might get notice pay instead of your notice period – this is called ‘pay in lieu of notice’. Your employer will tell you if they’ll give you pay in lieu of notice.

As long as you work your normal hours in your statutory notice period you’ll get your normal pay. This is as well as any redundancy pay you’re entitled to.

How long your notice period should be

If you’ve worked for your employer for at least a month you’re entitled to statutory notice. This is the minimum notice period your employer can give you.

Your statutory notice depends on how many years you’ve worked for your employer when you’re given notice.

Time with your employerMinimum notice
1 month to 2 years1 week
2 years or more1 week for each full year, up to a maximum of 12 weeks

For example, if you’ve worked for your employer for 5 years and 3 months you get 5 weeks’ notice

Contractual notice

Your contract might say what notice period you’re entitled to. If it does, this is called ‘contractual notice’.

Contractual notice can be longer or the same as statutory notice. It can’t be shorter – you should always get at least your statutory notice.

https://www.citizensadvice.org.uk/work/leaving-a-job/redundancy/redundancy-notice-period/

There is never a good time to lay off staff. But doing it during the holiday season is going to affect people’s mental health more so than any other time of the year. People are making preparations for Christmas so not planning your timing correctly can cause a knock-on effect.

I have just visited the website and did an audit report and perhaps he should have fired his website designers rather than his workforce.

When it comes to SEO one thing you need to bear in mind is to have an exact match searchable keyword or phrase domain name and have a header description to match the keywords in the domain and your keywords need to be consistent throughout your website.

The word ‘BETTER’ is an adjective that describes something as being superior or is an adverb that means something is done to a higher degree or more completely. But the word is used broadly it has no meaning when it comes to targeting mortgages or finance. However, putting two words together with brandable and exact match searchable keywords gives you a better chance of generating traffic.

I am not saying you cannot use brandable names in your business but you also have to have an SEO link wheel of exact match searchable keywords or phrases domain names that can be integrated into blogs or forwarded to pages that mention the keywords. Having the word ‘Better’ does not describe the business of Real Estate, Mortgages, Finance, or Insurance, if anything he should have secured www.bettermortgages.com www.betterinsurance.com. I have noticed that www.betterrealestate.com is forwarded to www.better.com Just because it is drummed into our heads short one-word dot com domain names are valuable they also have to have meaning to drive traffic, such as www.hotels.com www.insurance.com, etc….you catch my drift.

The other thing one has to take into consideration is that one has to have consistent content on a website that is updated regularly, otherwise, a static site will take forever to rank.

Garg, a self-confessed“serial entrepreneur”, said “the decision was really challenging” and stated it was the second time in his career he had made such drastic measures to lay off staff.

“I do not, do not, want to do this. The last time I did this I cried. This time I hope to be stronger,” he said during the call.

One employee said, “They dumped us like trash. We were there since the beginning and worked hard for the company and for our roles,”.

The mortgage lender startup reportedly received a $750m (£564m) cash infusion from investors last week and was recently valued at around $7bn, according to Forbes. The company, which says it uses technology to make homeownership “faster and more efficient”, is backed by Japanese conglomerate Softbank.

So what was the reason for the badly timed layoffs?

Chief Financial Officer Kevin Ryan, said the company had laid off 9% of its employees after the call, according to Forbes. Ryan continued to add “Having to conduct layoffs is gut-wrenching, especially this time of year; however, a fortress balance sheet and a reduced and focused workforce together set us up to play offense going into a radically evolving homeownership market,”.

I am sitting on the fence here but if my company was valued at $7 Billion and I run into financial difficulty, I would sell my assets and shares to keep my workforce going. I certainly would not penalize my staff.

As I say this about every company “a happy customer will tell their friends and family about you but unhappy will tell the world”. With this said, this has made 900 people extremely angry in which they will tell all their friends and family and social media connections which will then go viral and give this company a bad name.

The key is in the timing and if one needs to lay off staff I would not do it all in one go but gradually over a 10-month period avoiding the holiday season (900 workers divided by 10 months is 90 people a month, although one could also do it over 2 or 3 years depending on your financial circumstances.

STATISTICS TO BAD REVIEWS

1. 63% of negative information to include news and blog articles from third parties websites are more likely to be clicked on than positive information, which means that social media algorithms designed to maximize such signals are bound to spread negative information. Source: AdWeek. (2014). Bad News: Negative Headlines Get Much More Attention.

2. 86% of negative reviews stop buyers from wanting to use a business. Source: BrightLocal. (2018). Local Consumer Review Survey. Source: Vendasta. (2019). 50 Important Stats You Need to Know About Online Reviews.

3. It takes roughly 40 positive customer experiences to undo the damage of a single negative review. Source: Inc.com (2010). The Secret Ratio That Proves Why Customer Reviews Are So Important.

Citations: https://blog.brandbastion.com/how-social-media-comments-impact-sales

FINAL THOUGHTS FROM THE EDITOR

Trending US Business News – There is a hot debate should ‘Vishal Garg’ have laid his staff off on a Zoom Call? Well If I were in his shoes I would have sent a letter in the post ahead of the Zoom Call and then apologized and given my reason for my decision face to face on Zoom. I would also have avoided doing it during the holiday season where such devasting news can affect people’s mental health. Furthermore, the risk of bad press and negative feedback could also result in the company losing business due to questionable finances and trustworthiness.

#betterhomes #bettercover #betterinsurance #bettermortgages #betterrealestate #vishalgarg

Banking Awards Shortlist 2021

The Aftti Banking Awards 2021

With only three weeks to go the banking industry is up for its awards The AltFi Awards 2021 honoring the top innovators in financial services and banking.

Hundreds of nominations have been rigorously assessed (while taking into account any biases, where possible), and now a “Afti” has a full list has been compiled of those firms shortlisted for one of the awards.

The full list of winners will be announced on 26 November following a glamourous ceremony in the heart of the City of London.

You can find out more about how to attend here.

Here, though, in full are those shortlisted for the AltFi Awards 2021.

Fintech Of The Year 2021
PensionBee   
Mollie   
Raisin DS
Lender Of The Year 2021
ThinCats   
Silicon Valley Bank   
Just Cashflow
CEO Of The Year 2021
Anne Boden, Starling Bank
Sebastian Siemiatkowski, Klarna
Samantha Seaton, Moneyhub
Bank Of The Year 2021
Starling Bank   
ClearBank   
Cashplus Bank
Fintech App Of The Year 2021
Freetrade   
Snoop 
Tide
Best UX Of The Year 2021
Freetrade   
Monzo   
Moneybox 
Open Banking Provider Of The Year 2021
Accountscore   
Plaid   
TrueLayer
Financial Inclusion 2021
Auxmoney   
Lendwise   
EdAid
Investor Of The Year 2021
Draper Esprit   
Chrysalis Investments   
Augmentum Fintech
Fintech Woman Of The Year 2021
Lisa Jacobs, Funding Circle
Seema Desai, iwoca
Dame Jayne-Anne Gadhia, Snoop
B2B Fintech Of The Year 2021
Thought Machine   
Checkout.com   
Plaid
Crypto Platform Of The Year 2021
Coinbase   
Bitpanda   
Zumo
Consumer Fintech Of The Year 2021
Moneybox   
Habito   
Starling Bank
Advisory Firm Of The Year 2021
Thistle Initiatives   
Adempi   
Stone Mountain Capital 
The One to Watch 2022
Lightyear   
Snoop   
Tred
Diversity and Inclusion Initiative Of The Year 2021
iwoca   
Global Processing Services (GPS)   
PensionBee
Special Industry Contribution Of The Year 2021*AltFi Editor’s Choice 2021*

Note From the Editor.

I am happy to say that a Challenger bank “CASHPLUS” that I have been a loyal customer with since they first started out, became an official bank this year and has been shortlisted for the award Bank of the Year 2021.

**Please note we are not affiliated with “Afti” what so ever and opinions expressed are solely our own.

https://www.altfi.com/article/8499_altfi-awards-2021-the-shortlists-revealed

#banking #challengerbanks #ukbusinessbanking #businessbanking #bankingawards #cashplus #cashplusbank #bankawards2021 #bankingawards 2021 #bankmarketing #marketingbanks

Money Worries & Mental Health

Money Problems and Poor Mental Health.

Money Worries.

It is with no surprise that mental health is affected by financial worries, with an astonishing 9.5 million Brits suffering from mental health issues due to money worries. More than 18 million UK adults worry about money on a daily basis with a third saying their sleep is affected.

Therefore utility companies should not be intimidating and be wolves at the door if your bill payment is a few days late. They need to show compassion and be more understanding rather than harass people. Landlords should also take into consideration a person, personal circumstances before demanding money at short notice, 30 days notice is not adequate time if you have not put into place a surplus amount of money that you can use should the creditor increase their prices by an astronomical amount over the rate of inflation. Just because a property rental price is lower than the average price, says if a tenant did not agree with the prices they would have no option but to pay the average cost or move to an entirely new area. However, if the tenant needs to be in the area for business reasons and they have been a long-term tenant this says that the person has stayed in the area for a reason. Therefore if a landlord deliberately makes s a person get into debt which in turn causes mental health issues, the landlord should then be liable for the ill health of a person.

Some people can manage their money to a certain degree whilst others find it very difficult.

Feeling your financial circumstances are too much to bear, often people try to avoid the problem hoping somehow it will go away, but it never does, and the more you ignore it the worse the situation will become.

It is a well-known fact that people struggling with money have a link to poor mental health.

Below I will address the following categories:

  • What is the definition of poor mental wellbeing?
  • Can poor mental health affect the way you deal with money?
  • What if you feel everything has become too much and very overwhelming?
  • How to return to the drawing board and try and re-budget your finance?
  • Are there organizations I can try to get free debt help?
  • How to Deal with creditors?
  • What should you do if you have been unfairly treated?
  • How to manage your expenditure whilst you’re in the hospital?
  • What Benefits are there you can claim if you have poor mental health?
  • If someone you know is struggling with mental health and financial issues, how to help them?
  • If you cannot manage your money yourself who can help you?
  • Getting extra support for mental health?

What is the definition of poor mental wellbeing?

If you are finding that your mental health is being affected because of your financial circumstances and life is starting to be very overwhelming with sadness, stress, and anxiety, you may be experiencing poor mental well being which you need to contact a health professional like your local GP.

Poor mental wellbeing is when you experience the loss of a loved one (grief) feeling lonely or in despair, having relationship issues, or money worries or your physical health is not so good or you may even have problems at work. Most of the time we know what is causing us to feel low and we need to admit to ourselves that we do have a problem and learn how to deal with it. By simply ignoring the problem or being in denial will only make matters worse.

If you are feeling very low to the extent you may be having suicidal thoughts because of your money worries, you need to talk to a friend, family, neighbour or stranger otherwise call 999 if you are in immediate danger or give the Samaritans a call on 166 123.

Poor mental health can come at any time and last indefinitely unless treated. Your financial circumstance and worries about money can cause a chain reaction of problems not only to your health but to your day-to-day living.

Mental Health issues such as anxiety depression, sadness, stress, and PTSD can happen to the best of us, and remember you are not alone there are other people out there that most probably going through what you are going through.

Can poor mental health affect the way you deal with money?

Poor mental health being can be an onset of events that have caused you to feel, stress, sadness, sorrow, and despair. Your mental health can cause you to have anxieties, stress, depression, lack of motivation.

Some examples of the domino effects that can cause a chain reaction include:

  • Your income has been affected due to redundancies or could have stopped if you can’t work and are awaiting help from Univeral Credit, Housing Benefit, etc, or have to take time off work. It could also be because your child which is full-time education has turned 19 and you are no longer eligible to claim for your child tax credits even though their expenditure has not changed and you still have to feed them clothe them etc. (This is where the pencil pushers in parliament have not thought this through and have never been in this predicament). This is a loss of £400 per month and how is one supposed to live?
  • Your Landlord decides to give you one month’s notice to increase the rent without giving a thought about your financial circumstance. Even comparing the increase to similar rents in the area. So what happens if you do not agree, he/she will serve you notice to quit and where will you go then? He /she could potentially make you homeless and would he/she care of course they would not.
  • I have a saying “do I need it or do I want it”? If money is tight I weigh up would I be able to put off my wanting for another month. Could I live without whatever it is I want for a while until I could afford it? I have wised up to my financial spending about a decade too late. But now I have a better understanding of what is going in and what is going out. Someone with depression might spend their money on things they don’t need just to make themselves feel better and worry about consequences later, this will eventually become a vicious cycle with more unnecessary debt piling up.
  • People with depression may feel anxious or stressed about doing things like facing people, talking on the phone, going out, or opening their bills.

I am fortunate I do all my banking online and have done away with statements and bills coming through my door, everything is electronically done, I would like to think I am contributing to helping save the planet with zero carbon footprint emissions.

Money Navigator Tool

Are you looking for money guidance, but don’t know where to look? Start with Money Navigator, giving you instant help based on your circumstances.

Remember if you can write down all your going in money as well as your going out you will have a clearer picture of what costs cuts you can make.

Sometimes people that have enough money to live on may worry about money worries just in case they have to break into their savings. With rising costs and people in the human hierarchy importance ladder who simply do not give a damn about your mental health, you have to start fighting for survival and researching different options and how to get over your obstacle.

  • Your current situation may make you feel worried, anxious and nervous, or even depressed. You may have no motivation to face people let alone talk to them.
  • Your current situation may make you more stricter with your spending to the extent that you may not want to spend anything at all even though you may have money in the bank you do not want to dig into your life savings. This can cause anxiety and depression.
  • Your current situation may be the difference between putting food on the table because of people that do not care about your financial predicament and if you can actually afford a price increase. Small businesses should be more understanding and make massive increases to the tune of £80 as in the case of my landlord. (He will one day feel my wrath), he claims he has made repairs and has offset annual inspections that he is obliged to do onto the tenant. (I have so much ammunition on him he won’t know what has hot him).
  • Some people such as myself may find it hard to concentrate on making important decisions or concentrate or stay focused and may not take in all the detailed information and may not be able to manage their money properly.
  • Under Stress, people become forgetful and may not remember to do things.

There is an online tool provided by the NHS that can access you mental health especially if you are affected by financial difficulties NHS Money Worries tool. It does not take long to fill out in fact it only takes five minutes, which will then direct you to specific help based on your answers.

What if you feel everything has become too much and very overwhelming?

There is not one person on this planet that feels happy 24/7. Some may have very good days followed by very low days (Bipolar). Everyone feels low from time to time. Being able to identify the root of the problem is the first step to recovery. If one can pinpoint what is causing you to feel low and have your financial forecast in black and white in front of you (one needs to be ruthless with oneself) be as open and honest with your finances, which will pave a path tackling the problem.

If you cannot shake the persistent feeling of anxiety, worry, and depression off, you should seek medical advice from a health professional such as your pharmacist or GP. Sometimes making the first move and asking for help can be difficult and daunting that is why there are organizations that help you on the road to recovery. Mind has devised a tool called Find the Words, which will help you help you devise a plan of action and what you can say in the preparation of having a consultation with your GP, Nurse, or Pharmacist.

When it comes to financial difficulties the sooner you begin admit you have a problem, the sooner you can to tackle the problem and the easier it will be to take control. However it is understandable that some people may not be able to find the strength to deal with financial issues independantly and may find the whole ordeal overwhelming to the degree it may feel even impossible.

How to return to the drawing board and try and re-budget your finance?

  • Write Down in a Book so you can return to it later all your expenses and all your income. You will see at a glance how you can possibly save some money or juggle your money around. This is a perfect opportunity to manage and budget your money. Give yourself a Petty Cash so you can dip into that rather than your savings.
  • Do some research and find organizations that can help you with your finances
  • Reach out to your friends, family, and healthcare professional if the constant worry about money is so overwhelming that you cannot function properly.
  • Nominate someone you can trust to look after your mail for you, going as far as helping you budget and manage your expenses. Sometimes the thought of opening bills or statements is too much to bear.
  • Contact creditors, banks, and utility companies at the first opportunity and explain your circumstances they may put your debt on hold. If you ignore them this will only make matters worse and the problem will not go away by itself, in fact, it may escalate to debt recovery where your initial debt might double with recovery fees. It is best to just get the bull by the horns and confront your creditors before they do.
  • If you start to feel that life is unbearable and you cannot even face going to work, you must go to your GP to explain your ailments and ask to have a sick note. Contact your manager or HR department to let them know you are unwell. Some companies offer extra employee support, which is free and confidential.
  • If you go to your GP or another health professional and explain your problem, not only will your mental state of mind be logged on their system they may be also able to guide you by providing a Debt and Mental Health Evidence Form, which can help make assure creditors take your mental health problems into account. Only if you are in severe debt financial services may want to see written evidence of a mental health issue, but this is something that should only be discussed if you feel the situation has no way out and you are willing to share your personal data with these organizations. This is not mandatory and you will not be asked to provide medical evidence unless it goes to court.
  • If you a shopping addict or feel that buying something to cheer you up is the solution, when in fact it will only make your finances worse, consider doing something that occupies your mind that does not include browsing the internet with the temptation to spend. Go to your local library and borrow some books that you will be inspired by. If you are arty start painting. Do things that will not cost you an arm and a leg. Download some e-books before turning off the internet for a month or so. Give yourself time to re-rejuvenate.

Visit Money and Mental Health Policy Institute website for a list of recommended tools you can use.

How to return to the drawing board and try and re-budget your finance?

Poor mental health may make not allow you to be focused and may hinder the decision you make, thus avoiding making them at all can cause a domino effect with consequences to one’s actions. When you are starting to feel you are able to tackle your problems you need to be assertive, stay focused and correct the problems you may have. Also, try to safeguard yourself from future issues which may arise, by putting a little away each month if at all possible.

Are there organisations I can try to get free debt help?

  • I have been there when I had a nasty surprise when Norton renewed itself automatically approximately two months before the termination of the contract. I went about removing my card details from their system and every other company that I was not comfortable having my card details. This is the same for most online shopping sites and browsers often remember card details to make it easier and smoother to make purchases. If you feel at risk of making impulsive spending decisions you later regret, remove the auto-filled information from your browser settings.
  • Consider cutting up your cards or have just one for essential shopping, but do away with credit cards at your first opportunity. If you are in debt with credit cards the banks and credit card issuers will be happy for you to offer them something rather than nothing at all. This will also save them time chasing you and they will get their money although albeit it may take them a little longer. Offer something that is reasonable and show them your expenditure report.
  • Download this useful tool The Wellness and Recovery Action Plan (WRAP) that was created by Mary Ellen Copeland and others who have lived experience of mental health issues themselves.
  • Also if you have overspent and regret it, you can cancel or return items so you get the money back.

How to Deal with creditors?

If you have had poor mental health for some time it may be a combination of different things that have happened in your life. One of the reasons could be because you don’t have enough money to pay for the basics, such as food and rent or mortgage or you’re unable to pay your debts.

Although there are many places where you can get free financial help and information, only you know if you have enough money coming in or not to cover your bills.

A debt adviser can help to a certain degree and talk through your money worries and find ways for you to manage your debts, but they may not have all the answers. If you have been good at managing your money and all of a sudden someone throws an unexpected spanner in the works such as a rent increase of £150 for arguments sake, this will throw your budget straight out of the window.

Debt Advisers can suggest solutions you may not know about and can help even if you don’t think you have any spare money to deal with your debt.

A lot of people have felt stress when seeking debt advice; you’re not alone and it’s not a sign of weakness.

You can talk to debt advisers online, on the telephone or face-to-face – however, you feel most comfortable.

Get free debt advice here.

How to Deal with Creditors.

You should never be ashamed or embarrassed about talking about mental health to anyone. It is not a sign of weakness and in fact, speaking about is a sure way of finding the right help to dealing with it. Suffering in silence does not help you if you do not tell anyone how you are feeling. There are millions of people just like yourself in similar situations and if you can find the courage to speak out you have made the first steps to recovery.

If you do not tell anyone how you are feeling how are they supposed to know.

Creditors are human after all and even if they have never experienced stress, anxiety, and depression they may in fact know someone that has and they should be sympathetic towards you as long as you explain to them what you are going through.

Write it all down on a piece of paper or type it up, mentioning your mental state of mind, your disabilities and any medical help you may have. Do not leave any stone unturned.

Mention your incomings and outgoings so that they have a clear picture and may give you more time to pay off any arrears or debt you may have.

It is better to offer them something than nothing at all.

They will be happy to accept whatever you can offer them rather than taking you to court, which not only costs money it is a waste of resources that can be better spent elsewhere.

Creditors can be empathic and the definition of a creditor is someone you owe money to, such as a landlord, utility company, car finance company, your bank, building society, or lender (payday loans, store cards, etc).

People often feel talking about mental health that there is a stigma attached and the person you disclose this information to may think you are crazy. Having mental health issues such as anxiety and depression are normal experiences most people go through and experience at some point in their lives, from sitting your exams to having your first interview to feeling your job is not rewarding or you may be having relationship troubles. Everyone has experienced sadness, anxiety, and depression at some point in their lives.

When our parents and loved ones pass away we experience, sadness, grief, and depression.

Talking to their creditors about your poor mental wellbeing makes you a stronger person because you are brave enough to speak about it rather than shutting it out.

You can choose how much information you want to share and how it will be stored and used. You have control over your data.

Most importantly if you are feeling as if things have escalated out of control and you have nowhere to turn, do visit a health professional or GP asap and then contact your creditors in writing or appoint a friend or family member to do it on your behalf. You are not alone there are millions of people in the same boat as you.

Find out more about notice of correction on Mental Health and Money website.

What should you do if you have been unfairly treated?

Most organizations are empathetic providing you do give them the runaround. if you choose to ignore the past due letter and hope the problem will go away by itself you are very much mistaken and you will only infuriate your creditors. The sooner you make contact with them and the sooner you put all your incomings and outgoings on the table and a proposed payment plan the sooner they will give you extended time to pay. Remember they sooner prefer to have something than nothing at all and they certainly do not want to waste their precious time dragging it through courts. They will even cap any interest you may have as long as you make contact with them.

However if after you have disclosed your situation to the lender and they are being ruthless you can put in a letter of complaint and then go to an ombudsman who will act as a mediator. You also have the option of going to citizen advice and get free advice from volunteer solicitors or legal advice pro bono meaning they will not charge you until they win a case similar to (not win no fee).

The most important factor is you have to make contact physically or in writing and if you still feel you are not getting anywhere start pulling ranks so if the bank teller cannot help you ask for the bank manager and if the bank manager refuses to help go to an ombudsman.

In most cases as long as you offer your creditors something they will call off the wolves and will not pass your debt onto a debt collecting agency.

If you want to speak to a creditor in person it is wise to have someone with you as a witness and for moral support but the best way is to put it all in writing and do not leave anything out.

How to manage your expenditure whilst you’re in the hospital?

Sometimes the unexpected can happen so you should have a plan of action for a friend or family member to take over your day-to-day expenses. The best way is to set up a standing order or pay via creditors’ websites manually. Often setting up direct debits is a good idea but with this method, the dates transaction leave your account are fixed, whilst withstanding orders you have more control.

The best plan of action is to appoint someone as power of attorney and have it in writing that should you be unable to sort out your own finances and day-to-day routines like feeding the cat and watering the plants and putting any subscriptions on hold etc.

Obviously you need to be able to have someone you can trust.

However, if you are alone and have no family or friends, you could talk with your bank manager, you will be surprised what people they are in contact with and what resources and organizations they could put you in contact with.

On Rethink’s Mental Health and Money website, there is a full list of options and things you should think about, including how someone can help you pay bills, deal with benefits or talk to your bank or other service providers, such as your mobile phone, gas or electricity provider.

Always plan ahead should something happen like you being admitted into hospital suddenly. This will start a plan of action with the domino effect of the next person being notified to sort out your affairs.

If you are dependant on Government Benefits and Support you must notify the agencies because some benefits you will no longer be entitled to and this will avoid them overpayment, in which you guessed it, you would have to pay it all back. So it is best to let them know as soon as you can or get someone to do it on your behalf.

If you are admitted to hospital for a long stay you should know about the following:

  • If you are getting Disability Living Allowance, Personal Independence Allowance, or Attendance Allowance, your benefit will stop.
  • If someone gets Carer’s Allowance for you, their benefit will stop at the same time.
  • You are able to continue to get Housing Benefit for up to 52 weeks
  • If you are getting Employment and Support Allowance it will continue to be paid but depending on which type you are getting, you may lose some premiums or housing costs
  • Universal Credit will not usually be affected for six months
  • You will need to continue paying your bills. Think about setting up a direct debit so it’s done automatically

If you get benefits, tell the Department of Work and Pensions (DWP) – or the Social Security Agency (SSA) if you are in Northern Ireland.

Tell your local authority if you get Housing Benefits or pay Council Tax because you may qualify for a reduction.

If you don’t tell the agency dealing with your benefits, they may continue paying you and you may end up owing money.

You may need someone to help you do some of these things. Read our guide Getting informal help to manage your money for more information.

Go to the Mental Health and Money website for more help you can get and things you need to do if you are in hospital.

What Benefits are there you can claim if you have poor mental health?

If your mental health condition persists or worsens or another disability is diagnosed, you may be entitled to help with certain benefits.

If you are over 16 and have a diagnosed mental health problem, you may be entitled to a Personal Independence Payment (PIP) if you need help with everyday tasks. This isn’t means-tested, so you may be able to get it whether or not you have an income or savings. However, they will first make you have a long interview and will assess you on the day. With the Coronavirus Pandemic Regulations and Restrictions, these assessments have been put on hold. Do not be disheartened if your claim has been denied, nearly all claims are rejected and it is up to you to appeal their decision.

If you can’t work for an extended length of time because of your illness and you’re not entitled to Statutory Sick Pay (or it has run out), you might be able to claim Employment and Support Allowance or Universal Credit to help replace lost income. If you’re claiming a sickness or disability benefit, you will usually need to have a medical assessment as part of the claim process.

The Mental Health and Money Advice website has a full list of benefits you may be entitled to if you are suffering from mental health issues, or if you are a carer of someone who is struggling.

The charity Turn2us has an online calculator you can use to see what benefits you may be able to claim.

If someone you know is struggling with mental health and financial issues, how to help them?

As a friend or family member, you know the person you are worried about better than most. So you can spot changes in behavior, sometimes before they do, that might send out warning signals.

You may want to make an agreement with them that they let you know if they seem to be becoming unwell. You could make an action plan together, for example, you could look after their credit card or bill payments when they feel unwell or help them make a GP appointment.

Are you worried about someone you know being under too much stress? If so, the Samaritans website has a page on what to look out for if you are concerned that someone you love is harming themselves, having suicidal thoughts, and might be at risk of suicide.

Getting extra support for mental health

Mental health is complex and there can be many symptoms other than feeling low. If you (or someone you care for) needs support with mental health, these organizations can help:

NHS Choices

Rethink

Mind

The Mental Health Foundation

BeGambleAware

https://claimwisely.co.uk/mental-health-compensation-calculator/

https://www.business-live.co.uk/retail-consumer/list-shops-fallen-administration-2020-18177619

FINAL THOUGHTS

When you feel like there is a constant grey cloud following you everywhere you go and no matter what you do and nothing seems to be working in your favour, you must step back and analyze the situation and see how you can tackle the problem or make changes to make your life more bearable.

Sometimes stress, anxiety and depression can make it difficult to see straight, making it difficult to focus and make important decisions.

I have suffered from clinical depression for many years and I find writing down my thoughts and helping others as I am doing now part of my therapy. I have other disabilities which you can read on my other site www.disabledentrepreneur.uk My disabilities are not a burden per se, but a superpower as I can inspire other people that your disabilities do not have to define you and you can adapt around them within your means.

I have learned what to avoid that may trigger my depression and my other disabilities and what can worsen them. I have a controlled environment that is not normal by any standard but it works for me.

The first step to getting help is to talk with your health professional such as your local GP.

It’s easy for someone to say “things will get better” but if they are not walking in your shoes they do not have a clue what you are going through and have no right to give you that advice.

Only you can make the changes and make things happen and for people to say “things will get better” are basically sugar coating the problem.

If you are to your eyeballs in debt no amount of words is going to help you. You need a plan of action and you need people that can help you, rather than people trying to put a band-aid on a gaping wound.

The only way you can get out of debt is to talk to a professional that can help. You can even try to consolidate your debts into one monthly affordable sum. You need to speak with your creditors that you have run into financial difficulties and if you are also suffering from depression you MUST also see a Doctor. To be prepared to make the changes, you must make the first step.

It’s also soul-destroying watching people live in fancy houses driving fancy cars whilst you are struggling to make ends meet.

The constant noise of people bragging how successful they are is all smoke and mirrors and you should not be interacting or viewing this.

If you are connected on Instagram with people and groups living luxury lifestyles, turn off your account or simply do not log in.

For the MPs that dictate to people on low incomes how much support they are prepared to give people to live on, it would be interesting to see if they could live on £98.48 tax credits per week for six months supporting a young adult in full-time education who have no way of supporting themselves.

By my calculations, £98.48 per week based on 40 hours of work is £2.46 per hour, which is less than the living wage. Now if you add other income this could equate to a further £1.65 per hour, which brings a total of £4.11 per hour which is less than the national living wage, and they wonder why people have mental health issues.

So for a small business owner, they would have to further earn more than £164.48 per week to live and make a profit. Which equates to £657.92 per month that a small business owner would need to find just to get by on a low income.

If a small business owner has bills to pay and has a very low income that is struggling to pay its business overheads how does the government expect people to live on £98.48 per week? Even with the extra income, a small business owner makes it only comes to £164.48 per week. How on earth are people supposed to support themselves?

I have a question if a young adult turns 19 years of age, do they eat less the older they are or use less toiletries, electricity, water, etc? My point being if a young adult is still in further education not claiming universal credit and is not working and is disabled should the carer for that young person get penalized £100.00 per week and be given less to live on.

These politicians need their heads banging together and get basic salaries, equating to the National Living Wage of £8.91 per hour and not a penny more. They are not small businesses that often are highly educated CEOs that can command large salaries. Yet MPs are civil servants and you do not need to have a degree to become one all they need is to pay £500 with their application and if they are voted in by the constituents (followers), they then get to train alongside other MPs with starting salaries of £30K which equates to £625 per week or £15,63 per hour based on a 40 hour week.

Yet these MP’s command extortionate wages, bonus’s and expenses that come out of the taxpayers money, rather than helping people that genuinely need help.

I think it is bloody disgusting that politicians dictate how much a person should live on without calculating the cost of food and overheads expecting the average person on a low income to live on basic breadcrumbs that they begrudgingly give out.

They should try to live at least 6 months on those payouts and actually see how the other half live.

How about they swap their swanky homes for a person in a council house for at least 12 months, they would soon be singing a different tune.

Regardless of how much money I personally make and even if I could afford a house like the Real Housewives in Beverly Hills which I am watching on Netflix, I would never buy a house to flaunt my riches and make the less fortunate people feel envious of me. I would however live in a modest house that would not make me look like a privileged snob and I would use my money to help people less fortunate than me. I currently live in privately rented accommodation.

I challenge any politician to live on the income some of the small business owners live on just to be able to interview them 12 months later.

Similar to the film with Eddie Murphy and Dan Ackroyd ‘Trading Places it would be interesting to see a MP live on the money the government payout to small business owners and swap places with them for a year.

I apologize if I offend anyone reading this with my language but some people really are trying to make something of themselves and do not want to get into debt by getting loans/grants and simply need some help financially or help with getting more leads for free.

Some people may be disabled and may not be able to work in a normal working environment and choose self employment as one of their options other than being on the dole for the rest of their lives.

I have not really spoken with any small business owners on the subject but I am sure there are plenty of lone parents out there that support young adults whilst they are in college whilst juggling a small business and decreased revenue because of the ‘Coronavirus Pandemic’.

There Are Many Dr Evil’s In This World, Disguised!

It is society’s fault and a contributing factor that people suffer from depression!

For the landlords that increase your rent and expect you to find the money within a month are just plain greedy and ruthless without empathy, they should increase the rent by the Bank of England Rate of Inflation which is 2.5 %, NOT 14% as in my case.

My landlord said due to the fact his insurance has gone up because of the pandemic and the annual electricity check and extra alarms fitted, he has had to increase the rent by £960 per annum. I also have business insurance and my insurance has NOT gone up. He thinks I am stupid.

I will ride the wave and when I am finished I will create my own tsunami.

Further Reading.

#greedylandlords #mentalhealth #lowselfesteem #anxiety #depression #clinical depression #priceincreasesandmentalhealth #nationalrateofinflation #mentalhealth #moneyworries #moneyprobelms #debt #debtrecovery #reconcilingdebt #debtreconciliation

www.ukbusinessbanking.co.uk

www.ukbusinessbanking.co.uk & www.ukbusinessbanking.com

Banking Directory- Online Banking Magazine – Banking News – Banking Forum – Banking Job Search – Banking Digital Marketing – Banking SEO – Banking Content Writing – Banking Networking.

www.ukbusinessbanking.co.uk & www.ukbusinessbanking.com

Domain Names Awaiting a Financial Investor.

We have decided after some thought that we will launch this site and optimize it to its full potential rather than just mark it for sale. Whilst waiting on an investor we will potentially monetize the site and create a keyword SEO link wheel with exact match searchable marketing keywords which inevitably will be an extra income stream for our business banking marketing services.

We have in the Disclaimer of the site www.ukbusinessbanking.co.uk that we are willing to discuss a business proposition to acquire both domain names and the website or build a new site should the investor have ideas of their own.

“This is a no brainer….any financial institution wanting to capture the exact match searchable keyword phrases would benefit acquiring these domain names to secure global positioning, for the most searched for keywords relating to ‘UK Business Banking’ “.

In the meantime, we will be taking advantage of all the traffic until we find an Investor. As with all our sites, we will start adding posts to help with ranking. This is a slow process and will take time, as we have literally launched this site officially today. We have other keyword non-related sites that are not related to banking but are in the similar process of launching officially in the next few weeks to include solicitors, gas engineers, and makeup retailers directories.

Our main objective other than to find an investor is to offer Business Banking Marketing Services which entail:

  1. Blogging
  2. Social Media Content
  3. Customer Service Demographics
  4. Video Content Campaigns
  5. Strategic Partnerships Networking
  6. Reward Programs
  7. Digital Signage
  8. Community Awareness Initiatives
  9. Outbound Marketing
  10. Inbound Marketing
  11. Advertising
  12. App Design
  13. Branding & Re-branding
  14. SEO Optimisation
  15. Website Design
  16. Chat Bots

**We invite Domain Investors who also own Banking Domain Names to List their Domains on our Domain Marketplace.

#ukbusinessbanking #businessbanking #corporatebusinessbanking #corporatebanking #commercialbanking

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