What is the best way to send money overseas?

The global nature of the world now means that most people have family or friends living overseas. Even if this is a temporary arrangement, such as a child studying abroad for a year, it means that finding a secure way to get money to them is key. The problem for many though is the sheer amount of choice out there when it comes to international money transfer. From bank transfer to e-payment apps and beyond, there are lots of different methods that you could choose.

Which is the best way to send money overseas?

Online money transfer providers

The safest and most secure way to send money abroad is via professional online money transfer companies. These reputable and simple-to-use foreign exchange companies allow you to make international payments with no fuss. To really make the most of this method though, it is vital to conduct a comparison of international money transfer providers. This will mean that you get the best exchange rate to use on the money transfer when you do it.

Why are online money transfer providers so amazing?

If you are new to using these kinds of online solutions to make international payments, then here are a few reasons why they are so popular:


  • Security one major plus point with using this method is the superb security and safety they offer. When you transfer money in this way, you can have full peace of mind that your personal details and cash are safe. The most reputable companies will keep client funds in a segregated account for added safety.


  • Lower fees for virtually all of the FX companies that you can use to send money abroad, the fees you will pay are much lower. This means that it is cheaper for you to send money, and more of what you do send reaches the recipient. Compared to other methods, such as bank transfer or e-payment apps, this is a real bonus.


  • Easy to use transferring money via an international money provider is easy to do and can be done by anyone. As long as you have a PC and an internet connection, you are good to go! Making the transfer is very simple and usually just involves selecting some options from drop-down boxes on-screen.


  • Better exchange rates one of the big reasons that people use online FX companies is that they usually offer better exchange rates than banks or apps. As with the fees, this means that more of the money you send is there when converted into the foreign currency the other end. If you take the time to compare the various transfer providers to find out the best exchange rate on the day, you can really reap the benefits.

Transfer money online to anywhere in the world

If you want the flexibility to safely transfer money to anywhere in the world with the best exchange rates on the day, then online international money transfer providers are the best choice. There are many to choose from now, so you should have no trouble in finding the perfect one to use.



Starting a business when you are in debt

We all know this is the age of the entrepreneur. There are new business startups going live every week, and the digital economy has provided unprecedented opportunities. That’s all positive news, but this could equally be described as the age of easy credit and escalating debt. Credit card debt, student loans, store cards – most of us have a little personal debt. And some of us have a lot. The question is how does personal debt affect your aspirations towards starting up in business on your own? Let’s find out.

What is your starting point?

The fact that you are asking the question at all suggests that you probably have debt that runs to four or five figures – or maybe more. How serious a problem your debt might be for your new business aspirations depends on how much you owe, whether you are currently making the payments OK and how much income and savings you currently have.

In other words, to find out more about the debt management solutions you might need to put in place, you really need to sit down with a professional who does this for a living. They will be able to take you through different options such as refinancing, debt management plans and IVAs.

A business needs money

Whatever people say about low barriers to entry and start up costs being reduced in the digital age, any business still needs some funding to get it off the ground. There are more options open than there have ever been, and your personal debt can be a deciding factor in choosing the most appropriate source.

A business loan from a bank is the most common and simple solution for raising funds. Of course, they will look closely at your personal credit history, and if your credit rating is poor, they will probably show you the door.

There are other fish in the sea – some lenders specialize in dealing with poor credit ratings, as there are many, many people in the same boat. Naturally enough, they take a risk-based approach, meaning that if they are taking a chance on you, they want something back in terms of higher interest rates.

Alternative funding

In many cases, alternative funding options work better when your credit score is less than perfect. These include crowdfunding, peer to peer lending, working with angel investors or even seeking help and backing from family and friends.

The key to making a success of any of these is to treat each option with the same level of professionalism, in terms of creating your business plan and demonstrating why this is a sound investment. Angel investors are no fools, so if you treat every option, even your family, with the same attitude, you can’t go wrong.

Potential stumbling blocks

The other point to keep in mind is any impact that solving your personal finances might have on your ability to launch a business. A debt management plan or even an IVA is fine, for example, but if you opt for a debt relief order or you file for bankruptcy, it will affect your ability to establish or direct a company.


Can You Start a Business with No Savings?

There are literally tens of thousands of people on any given day who are considering starting their own business because they are sick and tired of working dead-end jobs with no prospect of ever making enough money to invest in the future. Retirement may be a long way down the road, but at this rate, they feel trapped in a life where they live from paycheck to paycheck just trying to make ends meet. These are the people who know that the only way up is to find a way out and many are motivated to make their own way out of this financial bind. So then, can you start a business with no savings? The answer isn’t quite as cut and dry as you might think. However, yes you can under certain circumstances. Here’s some of what you need to know.

There Are Legal Fees to Consider

The first thing you need to know is that if you are going to start a business, you will most likely need to get an occupational license, register your business as the kind of company you want to run (i.e. Sole Proprietorship, LLC, etc.) and then you may need business insurance. Depending on exactly what it is you intend to do, insurance may be a requirement. Each state has different requirements and fees and then there are county and municipal fees which may be payable upon starting a new business. Do you have enough to cover these fees? If you have no savings, the answer is probably not. Even so, there are ways to work around that.

Begin With a Solid Business Plan

Since you will need funding of some sort, the first step to take when starting your own business is to draft a solid business plan. Whether you are seeking financial backers or something like unsecured business loans from Lending Express, any financier will want to see how you intend to make the money to pay them back. Even loans are considered an investment in the future of your company, so you must learn to write a business plan that shows how you intend to organize your company and how you can then realize a profit great enough to pay back any loans while making a profit sizeable enough to stay in business.

How Much Investment Capital Will You Need?

One thing you might seriously want to consider is that old cliché, “Don’t quit your day job just yet.” Bear in mind that besides the startup costs you will encounter, you must keep a roof over your head and food on the table. While you very well may be in a dead-end job with nowhere to go, it pays the bills while you work towards building wealth. Perhaps you could start out slowly on a part-time, work-from-home basis in the beginning. Yes, it will be hard work, but you can keep the bills paid, if nothing else, while you launch your company. Once you have a solid foothold, it’s time to give notice. Remember that other cliché as well – ‘don’t burn your bridges before you cross them’. If you quit your job prematurely, the door may be closed for re-entry.

If you have established any kind of credit and are able to procure an unsecured business loan, then yes, you can start a business with no savings. The going may be rough, especially if you are no longer employed, but it can be done. Will it be easy? That’s up to you and the effort you put into it but be aware that at the end of the day, you are your own boss and you can determine your future. Your own business is not a dead end job and that’s the bottom line.

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