Strategies for Paying off Student Loans: Best Advice
Student loans. The daunting endgame of college. “You have to spend money to make money.” Yeah, but actually no. Not really. The classic hey you got a degree but you also have “fill-in-the-blank thousand” in debt as well. Regardless of whatever narrative you fall on the idea of paying off student loan debt is a stark one. However there is hope, and you now have the perfect opportunity to put that big brain to use. Still, in case you need help, here are a couple of realistic tips to help pay off one of the world’s most expensive pieces of paper.
The worst part about student loan debt is that it serves many as the first real foray into the real world of adulting. Trust me there will be home loans and car notes aplenty in the coming years. But that does little to mitigate the harsh reality of a 23-year-old staring into the abyssal debtor for the first time and trying to figure out how to pay off student loans.
So make a note – how much debt do you have? What is the term length? And so on. By getting a feel for the boundaries of the space, you can begin to learn the realistic scope of what you are dealing with. Once you have made a legitimate assessment, begin crunching the numbers.
These numbers are the pieces that make it possible and really, this article could end right here. Budget and pay over your minimum, i.e. know how much you have to pay and when, and then pay over that amount, while balancing a modest lifestyle with your current income.
Pay Over Your Minimum
Paying off student loans over your minimum payment works twofold. Not only does it get you closer to your endpoint faster, but it also lowers the interest you owe. So a win-win. While this is seemingly simple it does come with one major downside, with that being the ‘cost of living’ part of the budget shrinking substantially to accommodate the loan. Keep in mind the targeted dates are set for realism, but any amount you can assuage gets you closer to being able to put 100% of your take-home back in your pocket.
Make Financial Sacrifices
There are as many types of people under the sun as there are hues in an evening sky, however just as you must look upward to find the horizon’s full view, you may look to any given individual and know that they find something pleasurable that costs them money. Food, hobbies, family, whatever. Making financial sacrifices is about adhering to the budget and foregoing the smaller luxuries that you may otherwise afford.
Adhere to the Debt Snowball
In circumstances where the debt is varied and spread over multiple loans, it is advised to utilize ‘the Debt Snowball.’ The Debt Snowball is a method that prioritizes paying off the smallest loan first, then the second smallest, then the third smallest, and so on.
It is imperative to still be paying off your minimums on everything else, however, it allows for an easier time mentally budgeting out your finances. Additionally, the Debt Snowball methodology allows for the idea of mental freedom and alleviation as you begin to see all those debts slip away and disappear.
Refinance Your Student Loans
Firstly, this move isn’t always the right choice. Whether the tax is federal or private, whittling it down can be extremely difficult. When looking to refinance you are effectively allowing another interest group to buy your debt. Refinancing is in essence having someone pay off your debt thus giving you new terms of debt to pay off at the new discretion.
It basically comes down to your raw numbers. Are you getting better terms, is your new payment plan agreeable, does it work better with your current lifestyle? Refinancing is an intricate process with lots of odds and ends. Working through it can be worth it, however, in cases where you are making the payments more accessible and realistic.
After this, the predominant ways to work through student debt revolves around ways to allocate and aggregate more money.
Apply Spare Income Toward Payment
Side hustles, raises, and tax returns. These are great ways to get an edge on each and every payment. While they are not blunt in ways of re-working the existing debt and serving to function as a business all their own, they do provide an influx of cash. This additional income can assuage the cost of living. By adding these new sources of revenue to your finances you will increase pay and decrease the time required to pay it off. Furthermore, this method requires two parts:
Generate Spare Income
Allocate Spare Income
Routinely doing these two things will reduce debt for the individual and get you back on track to paying off any remaining debt. This method requires extra effort. At the same time, it also allows for the individual to have recurring revenue methods and other outlets and skills that will remain once the debt has been paid off.
Among all of these listed methods of paying off student loans, it can be useful to employ different methods. Staggering them can help. Sometimes even combining methods of debt reduction can get you to the promised land. Either way, consistent payment over an achievable period is always the most sound advice.
The post Strategies for Paying off Student Loans: Best Advice appeared first on SmallBizTechnology.
What Is Lead Generation Process ?
It takes every blade of grass to make the meadow green. After all, a company is only as good as its qualified leads, and we’d love to have enough of them. I mean, how can these leads materialize out of thin air? By using a technique known as “lead generation.” But what, exactly, is lead generation? As the first and most crucial step in creating a client, we will explain how it is done.
Get ready to learn about the importance of lead generation and process.
What is Lead Generation in Marketing?
Generating leads is the first step in turning potential customers into paying customers by piquing their interest in your product or service. Lead generation involves collecting prospective customers’ contact details (leads) via various means, such as online forums on landing sites.
B2B lead generation is the first step in the sales process for many businesses.
Leads are prospective consumers who have provided contact information to learn more about your business’s offerings via business-to-business marketing. By creating them, B2B companies may better target their marketing efforts and move potential buyers down the sales funnel.
Why is Lead Generation Important?
Every company’s expansion depends on its ability to generate new leads. Focusing on lead quality ensures that your sales teams have access to potential customers that fit your desired customer profile. As a result, conversion-based income rises.
Lead generation is crucial for increasing brand awareness and credibility within your target demographic. A B2B marketing funnel may help you convert casual browsers into serious buyers by guiding them through the stages of the buying process, from awareness to consideration to purchase.
In other words, when it comes time to complete the purchase, they will be more receptive to your sales team’s overtures.
What Does the Lead Generation Process Look Like?
There is more to fixing your issues than just turning to the lead-generating process. It’s structured with an introduction, body, and conclusion. It would help if you did produce not only leads but also make effective use of them. No worries, we’ve got you covered in every way possible.
Identifying a Buyer Persona
It would help if you had a clear picture of your ideal customer before you can begin gathering information for a lead generation campaign. Identifying your ideal customer is the first step in selling a product.
Developing a Lead Generation Medium
Finding your target demographic is the first step in selecting a suitable lead magnet. You may accomplish this goal via the use of several marketing strategies, including but not limited to content, social media, and interactive formats.
Developing a Lead Generation Database
If you don’t know how to follow up on those leads, all you do is pointless. The best way to analyze, sort, and prioritize your leads is to compile all this information in a database.
Qualifying and Scoring Leads
It’s impossible to handle every lead the same. Your leads still need to be qualified and scored, even after you’ve identified your ideal customer. Depending on your situation, you may need to provide more attention to a select few leads. You’ll have more options for reaching out to them this way.
Creating Lead-Ready Channels
To maximize the effectiveness of your marketing initiatives, you must first capture leads via efficient channels. Marketing techniques such as social media (advertising and other lead magnets), landing sites, and so on are all examples of channels to consider.
Invest in an Analytics Engine
You’ll need an analytics engine to keep track of your conversions, so you don’t have to. Identifying the moments in your cycle when you lose the most leads is crucial, even if many of these contacts will not turn into customers.
If you find that a large percentage of your leads are abandoning the sign-up process on your lead form, you may want to try making the form easier to fill out by lowering the number of required fields or adding some interactive elements.
Gaining a large number of leads is beneficial, but only high-quality prospects, who are more likely to become paying customers, should be prioritized.
A lot of legwork is involved in evaluating your quality leads, but the payoff is well worth it. Make sure you foster connections with the high-quality leads you’ve found. They will be your clients in the future.
The post What Is Lead Generation Process ? appeared first on SmallBizTechnology.
Tools Remote Workers Can Use to Collaborate Online
The number of people who work from home tripled between 2019 and 2021, according to a US Census survey. Working remotely has become so popular in recent years, that technology has had to make it easier for workers to stay connected online. As well, companies of all sizes are realizing that remote work can be more efficient than in-person work. But working remotely can also be isolating, and it can be difficult to collaborate with teammates who are not in the same physical space. There are a number of tools that remote workers can use to collaborate online, from video conferencing to project management software.
There are a variety of communication tools available to remote workers that can help facilitate and collaborate online. Some common options for remote, real-time communications include:
- Voice and video conferencing: Platforms like Skype, Zoom, and Google Meet allow users to connect with one another via voice and video calling, making it easy to have face-to-face conversations even when you’re not in the same room. All three can be used on any connected device: laptops, desktops, mobile phones, and tablets.
- Instant messaging: Services like Slack, Google Workspace, Microsoft Teams, and Jabber provide instant messaging capabilities that make it easy to have quick back-and-forth conversations with colleagues.
- Project management software: Asana, Trello, and Basecamp can help teams keep track of tasks, deadlines, and progress on projects. They also typically include features like file sharing and real-time discussion forums that make collaboration easier.
Each of these tools has its own strengths and weaknesses. So it’s important to choose the right platform for your needs. Most of them offer free trial periods. This way you can test them out with your whole team before purchasing subscriptions or license fees.
Tracking Projects and Tasks
There are a few different ways to keep track of projects and tasks when working remotely. The most important thing is to find a system that works for you and your team.
One popular method is using a project management tool like Asana or Trello, both of which work very well to support small business teams. These tools allow you to create projects and tasks, assign them to team members, set due dates, and add notes and attachments. They also have features like calendars and Gantt charts to help you visualize your project timeline.
Best of all, if you use one of the communication tools recommended above, in particular Slack, you can integrate them. So, your team can update tasks right from Slack and vice versa.
Whichever method you choose, the important thing is to find something that works for you and your team. So that everyone is on the same page about what needs to be done and when it’s due.
Assuming your team is already using a calendar tool like Google Calendar, Microsoft Outlook, or Apple Calendar, you can take advantage of some features to help manage everyone’s schedules.
For example, if you need to schedule a meeting with people in different time zones, you can use the “world clock” feature in Google Calendar to see what time it would be in each person’s location to better collaborate online. You can also set up calendar sharing so that everyone on your team can see each other’s schedules and know when someone is available or busy.
If you have recurring meetings or events, you can use the “repeat” function in most calendaring tools to save yourself some time. And finally, if there are certain days or times when no one on your team is available, you can block off those times on your calendar so that people won’t try to schedule something during that time.
Calendly is a scheduling tool that integrates with your calendars, so you can share your calendar with people outside your organization so they can set meetings with you. They offer a free version, so you can try it before you buy. The paid subscriptions allow more users for your company, as well as more functions.
Sharing and Storing Files
There are a variety of ways that remote workers can share and store files online (in the cloud). File-sharing services like Dropbox, OneDrive, and Google Drive are three of the most popular cloud-based file management systems. These services allow users to upload files and share them with others. Another way to share files is to use a collaboration tool like Slack. This tool allows users to share files and communicate with each other in real-time.
If you need to proofread, markup, or sign (non-legal) PDF documents, PDF.Live has an easy-to-use tool to sign PDFs online, or you can edit and convert documents, and then share them via email, chat platform, or through your cloud drive.
In fact, even if you’re not a remote-working small business, getting your documents into the cloud and off hard copies and hard drives is highly recommended. Today’s cloud-based systems are safer than ever, as long as you train your employees to follow best practices for cybersecurity.
If you work remotely, it’s important to have a good set of tools that you can use. This way you can better collaborate online with your team. In this article, we’ve shared some of our favorite tools for remote workers, including Slack, Google Drive, and Zoom. We hope you’ll find these tools helpful in staying connected with your team and getting your work done.
The post Tools Remote Workers Can Use to Collaborate Online appeared first on SmallBizTechnology.
Gift of Networking – Mobilo Smart Business Card
Holiday gifting is a big part of the season checklist. Picking gifts for friends and family more often is not an easy task. A lot of thought goes into the selection of gifts. While you may find this in many tech gift guides, it’s still a gift to surprise your loved ones with. Mobilo smart business card is an NFC and QR code-powered business card. That enables you to share your contact details and other information with a Tap.
Here’s how you can benefit by carrying one Mobilo instead of a stack of business cards:
– A great first impression, you can wow your connections with the swift contact exchange.
– Never run out of Business cards again, all you need is one card
– Stand out from others while networking, be in your connection’s phone with a tap. Never be forgotten again
– Instant follow-ups, you can connect your card to a CRM of your choice, slack, salesforce, google docs, etc(3000+ apps). Your connection’s info gets automatically entered into your CRM system.
You can also benefit from the QR code feature of this card. You can use this card during your online meetings, just hold up your card to the camera for a quick scan. Then, you can share any information you want during the meetings.
With Mobilo, you’re not only giving a smart tech gift but also an environmentally conscious one. Making the switch from paper business cards to Mobilo saves money and trees. Every year 2 million trees are cut to manufacture paper business cards, and 88% of those cards end up in the bin within a week. So, consider yourself helping to save the environment by giving this gift!
Head to the online Mobilo store now and pick from your choice of smart business cards and accessories for your favorite family, friends, or colleagues. Happy Networking!
The post Gift of Networking – Mobilo Smart Business Card appeared first on SmallBizTechnology.