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Depending on how you utilize it, the internet can be a source of distraction that takes your focus off your work and lowers your productivity or it can be a beneficial tool with invaluable resources to grow yourself and achieve your potential. It’s all up to you.

Some people go on the internet and lose themselves in what are essentially a waste of time while others exploit the rich resources that come with internet connectivity for personal and professional growth. So what are the productive ways to spend time on the internet?

Get inspired

Don’t fret if due to financial or logistical reasons you may not be able to attend all the speaking events by your role model. The internet has your back.

These days you can find YouTube videos of pretty much every speech ever made since the invention of the video camera. So instead of watching cat videos you can watch motivational speeches that give you the impetus to overcome your limits.

There are also podcasts and TED talks which you can listen to and get inspired not to mention blogs and online magazines that offer pertinent advice and inspiring tips.

Get a job

The days when you had to look for classifieds in the dailies for suitable job openings are long gone. The internet is ridden with numerous job sites that send alerts whenever a company with a position that needs your skills and qualifications has an opening.

Better yet, making an application is easy so much that you can draft and send a Walmart Job Application within a few minutes. It doesn’t end there; the internet itself has created new job opportunities that never existed in the decades gone by like social media market, virtual assistant and web developer.

Learn new skills

The internet has revolutionized the way we learn and access information. Now with the click of a button you can have all the information you need.

Instead of wasting your time online, you can productively spend your time on sites like Coursera and Udemy which have well-structured courses on several subjects and acquire new knowledge. You can also learn about computer science and artificial intelligence.

There are also sites that teach you how most items are made and how they work and those that equip you with DIY skills so you can handle your own crafts and repairs. Earn money

There are several legitimate ways you can earn money online. The amount of money you earn though depends on the effort you put in and the skills you have.

The first way you can earn money online is by being an online tutor at those platforms that seek to teach people new skills. As you may guess, this requires you to have some level of expertise on certain topics.

The second way is to provide a service to those who need it. You can be a virtual assistant and remotely help organizations and individuals get more organized or you can write for your blog and monetize it or for other people and get paid for your articles. You can also develop websites and create mobile applications for those who need them. It depends with the skills you have.

The post 5 Ways to Productively Spend your Time on the Internet appeared first on Entrepreneurship Life.

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When leasing a car for business purposes, it’s important to know what you’re getting into and the pitfalls you need to avoid. Here are five common mistakes people make when leasing a car, and how you can avoid them.

Putting too much money down on the car

It might be tempting to put down a large payment up front, so you can take advantage of lower monthly payments for the rest of the lease. But if the worst happens and you get into an accident, you likely won’t have your down payment refunded. This can leave you not only without a car, but also out of pocket. Don’t go with the first dealer you find, either – use a lease broker such as ICL to help you find the best deal.

Not having gap insurance

Gap insurance is essential when leasing a car, and you should find out from the dealer when you negotiate a lease whether it is included. If not, you will need to arrange it yourself. Gap insurance protects you if you have to make a claim – your regular insurance will only pay out what the car is worth at the time. If the car has depreciated in value this can be less than your lease is worth, meaning you will lose out. Have a look at our article to find out how you can help combat car depreciation.

Underestimating mileage

When you arrange to lease a car, you will be asked to estimate your annual mileage. Be honest with the dealer about this as it can end up more expensive to underestimate – if you go over the mileage limit you will be charged for the excess. Find out how much the per mile excess rate is before you sign, and make sure you don’t go over the limit you agree to.

Not taking care of the car

Normal wear is expected but you should also take good care of the car, keep it clean and have any damage fixed or you’ll be charged a fee at the end of the lease. Find out when you meet the dealer what is considered normal wear, and what the cleaning and damage charges are like so that you don’t end up with a huge bill. There are many good tips online for what to do if you find your wear and tear charge seems too high.

Focusing on the monthly payment

Have a budget in mind and make sure you keep to it – but be aware that there are other charges and things you will have to cover over the course of the lease, like repairs and maintenance. If you lease the car for a longer period of time, this will reduce the monthly payment – however, this also means that warranties on the car will often expire. Not only that, but with the pace of technology continuing as it is, you may miss out on certain improvements and updates.

The post 5 Common Mistakes to Avoid when Leasing a Business Car appeared first on Entrepreneurship Life.

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Operating a small-scale business? Are you planning to close it down because of current debts? Well, according to the latest studies it has been found that around 49% small-scale business owners find it extremely difficult to manage with their present debts. Due to the debt you owe in the market, it is not a wise decision to close down your business.

Let’s find out how to reduce your market debts without closing the business.

There are certain models of business where debt is essential for the growth and expansion, but too much looming debt can actually cripple down your business.

Mark out the debt amount you have in the market

When you are trapped in debt, the very first thing that you need to do is to find out the tools that you have in your hand before you can actually start finding a way out. Ignoring the debt amount is not a wise decision because it will eventually lead you to nowhere.

Identify the total amount of debt you have from your bookkeeper and develop a monthly budget. This will help you determine the amount of cash you can actually manage for repaying off the present debt amount. Some of the common debt reduction strategies are given below:

  • Setting a specific goal for your income in order to pay off your debt amount is essential. This even works better if it is tied to a specific source of the income stream.
  • Again, the percentage method is also a better option where you can dedicate a certain percentage of your overall business profit for paying off your extra debt amount.
  • Make an expenditure plan where you will include only the daily essentials. This way you can set up voluntary austerities till you completely pay off your debt amount in the market.

No matter whatever type of small business loan you have, using the strategies given above can help you in repaying the amount within a certain period of time. But the strategy can prove to be effective only if your finances are dialed in. If you are not able to stick to a particular budget or the cash flow of your business is variable, then it is highly possible that at the end of the month you may end up generating more amount of depth.

Negotiation Get into negotiation with vendors

Is it possible to extend the terms for your payment on the outstanding invoices? On the other hand, is it possible to negotiate for a higher discount for early payment of new purchases?

Renegotiate the amount of loan in the market

When you cannot repay the loan amount to your lender, it implies a significant loss on their part. Sending loan collection agents is no doubt a huge loss for the money lenders. So, you can always expect that they will be flexible and help you in negotiating the loan terms. Talk with them about the late fees, renegotiating the interest rate as well as re-structure in the payment options. Further, a copy of hardship letter will help you in negotiating with your creditors.

Repaying the loan amount to your lender within the agreed time frame is always the best policy. But even if you fail to do so, you should pick up the calls and reply to the emails for negotiating the loan terms. Remember, negotiating the loan terms will simply help you in getting a better credit score.

Automate the payment for your debt amount

This is one of the best ways of repaying the debt in time. Link the debt repayment option with your salary account so that every month when you receive your salary, the amount will be automatically deducted first. This method of repayment will ensure that your debt amount is cleared off within a short period of time. Saving cash is quite difficult owing to a number of reasons. Having the debts paid off in the initial days of the month will ensure that you are free from the burden for the remaining month.

What is Debt consolidation?

Debt consolidation is one of the best policies to pay your current rates in the market. Here, you can take a huge loan to repay of the small loans. The rate of interest is quite low. This can even help you with your monthly finances because you will no longer have to pay so many lenders along with the high-interest rate. You will only have to pay a single repayment amount to the debt consolidation company. Thus, this will help you to reduce the debt amount to a certain extent. But remember, approaching a debt consolidation company means you will have to keep a certain amount of collateral ready to get the amount according to your need. This may even add up to uncomfortable risk.

Read the other blogs to know more about debt consolidation companies and how they work to help their clients.

The post How can you Reduce Debt in Small Businesses? – A Perfect Guide for all Entrepreneurs appeared first on Entrepreneurship Life.

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With cell phones, computers and email, you may find it strange when someone asks you to fax something to them. Faxing may seem like an antiquated form of communication, but many companies are still using fax technology to keep their records safe and secure.

That doesn’t mean everything about the fax machine is positive though. There are both advantages and disadvantages of fax technology today that make it both reliable and somewhat old-fashioned.

The Advantages

You’re probably more used to answering emails than dealing with fax machines, but faxes are still used by many companies and employees. While email is certainly more convenient, there are several advantages that make faxing a preferred method of communication.

Reliability

Emails require your recipient to have the right software or technical knowledge to open any document you send. That’s never a problem with a fax machine though. All you need is the machine and a recipient fax number.

Fax machines are therefore easy to use, not to mention much more secure. Faxes do not have viruses like emails and won’t have potential programming malfunctions like computers. Mail won’t get lost like it does when you send it manually either.

Faxes are simply sent to the right number as soon as you enter the information.

Security

Computers and emails can be hacked, with the documents you send intercepted. If you’d like your office to be secure, a fax machine is the safest form of communication you can have. There’s no risk in receiving a fax either, unlike if you get an email which might contain a virus.

On top of that, no harmful software can damage your files. At the same time, you receive proof that your document has been sent. This means that you have evidence that your document has gotten to where it needs to go right away.

If you’re part of an industry where it’s important that documents are received immediately, fax machines are invaluable.

Convenient Method

As mentioned, when you send a fax, your recipient gets it immediately. While emails do move quickly, they can take time if the file is large. It’s also much easier to send physical documents when you’re using a fax machine – you just insert it into the machine and enter a number.

Emails, on the other hand, need to be scanned, uploaded and sent to the right person. With a fax, you’ll save some money transferring physical documents too.

Instead of sending the document yourself, a fax machine provides you with a quick and cost-effective method of document transmission.

Ease of Use

Since fax machines have been used in offices for decades now, most people know how to use them. Even if you don’t know how though, they’re easy to operate and you won’t spend too much time trying to figure it out.

The Disadvantages

The fax will never be obsolete due to all the advantages that accompany this piece of technology. However, there are still some real disadvantages to relying on fax technology. Like any other piece of technology, it has its problems.

Technology Failure

If you depend too much on your fax machine and it fails for some reason, you’ll have some problems finding a new way to operate. You can’t fully rely on any one piece of technology, including the fax machine.

Security Questions

Fax machines are very secure, since they cannot be hacked like emails can. However, that doesn’t mean that they’re completely safe. Information thieves know how to pull data from old fax machines or discarded printing cartridges.

This means that when you submit a document, there’s still a possibility that someone could access your data, or the data of your customers. People can also see all of the faxes sent if they physically pass by the fax machine.

In other words, having your fax machine in the copy room of your office means that anyone passing by can see it.

Required Maintenance

Fax machines need maintenance. This means that you need paper, ink, toner and other equipment for you to be able to transmit your faxes. Make sure that you have a checklist to remember everything you need if you want your fax machine to keep working.

Landline Phone Number

You can’t use a fax machine unless you have an actual landline phone. This is less common these days, as everyone uses cell phones. However, you have to have an actual landline if you want to use a fax machine.

Of course, you can also fax your documents online with the many online services available now, so you’re not necessarily unable to fax if you don’t have a landline.

Less Convenient

Faxes are convenient in terms of speed, but they also cannot be reached easily. If you’re out of the office and you need to send a document, you can’t send a fax until you return. You also cannot multitask with a fax machine.

It’s not possible to send and receive a fax at the same time or send multiple faxes at once. This means that when sending to more than one people, you have to send multiple faxes.

Conclusion

There are many companies that continue to use fax machines even with the age of cellphones and emails. It’s not uncommon, considering the ease of use, security and convenience of a fax machine; yet, there are serious disadvantages too.

Faxes are less convenient in some ways and require you to maintain them. With both advantages and disadvantages to using a fax machine, you may or may not want one for your office. However, faxing online is also a possibility, so you might want to consider that too.

The post Advantages and Disadvantages of Fax Technology Today appeared first on Entrepreneurship Life.

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Depending on how you utilize it, the internet can be a source of distraction that takes your focus off your work and lowers your productivity or it can be a beneficial tool with invaluable resources to grow yourself and achieve your potential. It’s all up to you.

Some people go on the internet and lose themselves in what are essentially a waste of time while others exploit the rich resources that come with internet connectivity for personal and professional growth. So what are the productive ways to spend time on the internet?

Get inspired

Don’t fret if due to financial or logistical reasons you may not be able to attend all the speaking events by your role model. The internet has your back.

These days you can find YouTube videos of pretty much every speech ever made since the invention of the video camera. So instead of watching cat videos you can watch motivational speeches that give you the impetus to overcome your limits.

There are also podcasts and TED talks which you can listen to and get inspired not to mention blogs and online magazines that offer pertinent advice and inspiring tips.

Get a job

The days when you had to look for classifieds in the dailies for suitable job openings are long gone. The internet is ridden with numerous job sites that send alerts whenever a company with a position that needs your skills and qualifications has an opening.

Better yet, making an application is easy so much that you can draft and send a Walmart Job Application within a few minutes. It doesn’t end there; the internet itself has created new job opportunities that never existed in the decades gone by like social media market, virtual assistant and web developer.

Learn new skills

The internet has revolutionized the way we learn and access information. Now with the click of a button you can have all the information you need.

Instead of wasting your time online, you can productively spend your time on sites like Coursera and Udemy which have well-structured courses on several subjects and acquire new knowledge. You can also learn about computer science and artificial intelligence.

There are also sites that teach you how most items are made and how they work and those that equip you with DIY skills so you can handle your own crafts and repairs. Earn money

There are several legitimate ways you can earn money online. The amount of money you earn though depends on the effort you put in and the skills you have.

The first way you can earn money online is by being an online tutor at those platforms that seek to teach people new skills. As you may guess, this requires you to have some level of expertise on certain topics.

The second way is to provide a service to those who need it. You can be a virtual assistant and remotely help organizations and individuals get more organized or you can write for your blog and monetize it or for other people and get paid for your articles. You can also develop websites and create mobile applications for those who need them. It depends with the skills you have.

The post 5 Ways to Productivity Spend your Time on the Internet appeared first on Entrepreneurship Life.

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Many entrepreneurs do not know what to do with themselves once their small business is up and running. With so much focus on launching the company and navigating those challenging early days, it can be hard to know what to do once you have steadied the ship. First, it is important to give yourself and those that have helped you a pat on the back and take a second to admire your work. After this, you will want to take steps to grow the company so that you can earn more money and take the business to the next level. Here are a few ways that you can do this.

Streamline

Running a small business can be incredibly chaotic,and any entrepreneur knows that the 9 to 5 shift does not exist. One of the best ways to grow your company is to identify ways that you can streamline the operation and reduce your workload. When you can do this, you can spend your time focusing on the big picture and identifying how you can improve. One way is to use various tools, apps and systems that can make day to day tasks much easier, like a Paystub maker which can quickly generate accurate paystubs for workers.

Improve Customer Experience

Many companies make the classic mistake of neglecting customer experience once they find success. People like to feel that they are dealing with people and not a corporation, so make sure that customers get the best possible experience when they use your company. Include hand-written thank you notes, be friendly and address them by name and consider reward programs for loyal customers – retention is key!

Obtain Feedback

In a similar vein, ask your customers for feedback so that you can make adjustments and improve. “The customer is always right” is an important adage and one that remains true. Customer surveys are a great way to identify where you can improve and also find gaps in the market.

Ramp Up Marketing

Marketing is essential to get off the ground, but it is also vital for growth and boosting brand awareness and reputation. Now that you have more money coming in, consider reinvesting this in bigger internet marketing campaigns. The top companies have a strong online presence and are easy to find online.Make sure that you are highly visible to make your brand a big player in the industry.

Add a Product/Service

Take a careful look at your business, the competition,and the industry to see if you are missing a trick. Often, there are gaps in the market just waiting to be filled so think about what the consumer needs and what you are currently offering them. Adding a product/service is a great way to grow a company and stay ahead of the competition.

Growing a small company is an exciting period, but it is also a difficult challenge and one that is not often considered when starting out. With self-examination, streamlining and extra effort in certain areas, you can take your business to the next level and find even more success.

The post Secrets To Growing a Small Business appeared first on Entrepreneurship Life.

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iTunes is a program that is widely used by owners of Apple technology. The majority has the iPhone and uses the app on this smartphone. But a much smaller number of users have iOS on their computer, making it difficult to synchronize data between devices and the program in general because a lot of people has the Windows operating system.

That’s why Microsoft promised to release iTunes in the Windows Store in the Microsoft Build conference. As it was reported, Apple had to launch a version of the iTunes online app store to Windows store, which is the official Windows store.

Now it finally happened. You can download iTunes on your personal computer and enjoy the music. Media player functionality does not differ from the version proposed by Apple for Windows users to download from their website. But the output in the Windows Store means the accessibility of iTunes for devices with lightweight operating system Windows 10, which will soon turn into a special S mode.

Microsoft has confirmed that Windows 10 will be added to the S Mode. This was announced by Joe Belfiore on his own Twitter page.

“We use Windows 10’s as an option for schools or companies who need a version for simple problems, but with good performance. Next year 10S will be the mode for existing versions, not a separate collection. So… I think it’s perfectly normal/okay that we haven’t announced it separately”, – said Joe Belfiore. He is responsible for Microsoft Windows and the browser Edge.

It is known that the new regime offers the user features of Windows 10 S without system reinstallation. Its key feature is the restriction on installing apps from third-party sources. You can download them exclusively from a branded Microsoft store.

In the case when the user attempts to install the application via a file extension .exe, the system will issue a warning error.

Also, you can not change search engine. You can use only Bing, or manually open the search and enter a query.

Mode S Mode is designed primarily for low-powered PCs from which users expect a stable operation.

S Mode will be available on Windows 10 Home, Windows 10 or Windows 10 Pro Enterprise after installing the next major update. Upgrade PC S Mode for Windows 10 will be free, regardless of the version.

The real reason for Windows 10’s rejection was the confusion among users who were not able to find the optimal OS edition.

Producers, in any case, will not impose S-mode to the users. The license for Windows 10 with activated Mode S will be cheaper and, that’s why it can appear on cheap laptops.

If someone is not satisfied with the S Mode in the Windows 10 Home he can disable it for free. It is expected that only the transition from Windows 10 Pro from S Mode to the full professional version will be paid. The cost of this upgrade will be about $50. This will be relevant only for corporate laptops, and ordinary users do not need to worry.

It is unknown why Microsoft decided to introduce new rules. The team needs time to develop (Windows 10 S is based on Windows 10 Pro and S-mode should work in the home version of the system), or a Corporation wants to observe the success of the 10 S in its present form.

There is also the possibility that Microsoft, having the opportunity to cooperate with Apple, wants to be with a company-billionaire on the same level. That is why Microsoft wants to do everything possible to improve their OS and gain more users favor.

In any case, users will only win, because most are the Windows operating system users and will now be able to combine its use with iTunes.

The post iTunes for Windows appeared first on Entrepreneurship Life.

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Every day is not all sunshine and daisies. All of us have our ups and downs. The reasons could be complex or simple. It could be nothing or everything. When you can take a break from your routine, then well done, because that break will be your chance to recover. But most of us cannot afford a break when we choose to. We need troubleshooting methods for ourselves when we have our bad days and when they extend into our work lives as bad work days.

1. Accept it because when happy days are ours to keep, even our glum days are ours. Accepting it is the first step for a sooner recovery from a bad mood. It is not wrong to get glum. It is very much a natural phenomenon and happens to every living being on earth. Accept it, understand yourself, try to find a solution to the cause of the bad mood (if you are sure of the cause) and this will actually induce high intensity focus and thinking which is a really good thing.

2. Compartmentalization. Learn to sort different parts of your life like home, friends, family, friends, hobbies into separate compartments. So, even after a bad work day, you can leave that at work, go out of your workplace, relax or have a crazy night out. You can then process the day’s events after that tiny but much needed break.

3. The Venting Session. Call your best friend or the person you want to and rant, grumble and get it all out of your system. Don’t carry it over or keep the session too long. Moan for some time and then forget it or solve it and get yourself happier.

4. If the reason for the bad work day is some work related stress, try analyzing it, evaluate it and how it is supposed to have an impact on you. List out the pros and cons, get some advice if you need or some opinions. If the number of disadvantages seems higher, get a plan straightened to work this stress causing idea to your advantage and loosen yourself.

5. Get out. Walk under the sun, get some ice cream or fries. Take a walk around the park or window shop in the nearby mall. Get coffee, have an hour’s gossip with your besties, listen to music, watch a comedy show, call home, pet animals or have a conversation with a kid. This will have your dopamine levels increasing, getting your mood back to happy and smiling.

6. Have a conversation with your boss, talk to your coworkers in a polite manner. Make sure to avoid any kind of tiff or argument. Remember to be the bigger person. Think twice before you say something out loud or take any action. Do not mix personal and professional lives together.

Nothing remains for the permanent future. So, even the bad days will change to happy days. Remember to ensure you are caring for yourself including the factor of resting when you are ill. Rest assured, you can grab your work and just enjoy every moment of it.

The post How to Reset a Bad Work Day appeared first on Entrepreneurship Life.

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Every business will have the hunger to grow and it is through an infusion of cash that you can help the company move towards a positive path. When you think of kickstarting your own business, you have to take resort to business loans as they seem to be the best way to finance the growth and the other associated expenses. However, while there are installment loans like Northcash installment loans, there are few factors that a business owner should keep in mind before applying for such loans.

It isn’t a complex or a complicated process to apply for a business loan but if you prepare in a better way, this will guarantee chances of success. If you follow the right steps and opt for a lender who focuses on SMEs, you can simplify the process of business funding. There are several lenders who offer easy access to the best loan for a business. Here are few things that an entrepreneur can keep in mind.

  • Choose factoring

Factoring is nothing but a method of finance where the company sells off the receivables on a discount in order to receive upfront cash. This is often used by the companies which have poor credit score or by entrepreneurs who are apparel manufacturers who have to fill up orders way before they get paid from their customers. But the only thing is that this is one of the costliest ways of funding your business. If you have to pay a 2% fee to obtain funds 30 days before time, this is equal to an annual interest rate of around 24%. Economic dilemma has forced the companies to take a look at alternative financing options.

  • Get a loan from the bank

Although it is a fact that lending standards have gotten stricter yet it is also true at the same time that banks like Bank of America and JP Morgan Chase have set aside additional funds for lending to small businesses. So why wouldn’t you think of applying to them?

  • Raid your 401(k)

Are you someone who is unemployed but who is thinking of starting your own business? Have you accumulated enough funds in your 401(k) account over the years of your employment? With the tax code provisions, you may tap into this account without having to pay a dime in the form of a penalty fee. In case you follow the right steps, it is simple enough but the process is legally complex and hence you will require someone with experience. One thing to keep in mind is that you’re using your retirement funds and if things don’t go as planned, you will lose your business and your nest egg.

  • Borrow money from your future earnings

Are you ambitious, young and you’re eager to make a bet on the future earnings? There are many eminent people who are trying their best to raise money in this manner. You can offer a certain percentage of your future lifetime earnings via an online marketplace and exchange it for upfront cash. By swapping 5% of your future lifetime earnings for $60,000, you can get money.

Therefore, now that you’re eager to set up your own business, you should take into account the above mentioned factors through which you can help finance your business in the best possible way.

The post Kickstart your Business by being Aware of the Finance Options appeared first on Entrepreneurship Life.

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Investors are often deterred from the right investment choices because they hear many opinions from different individuals. However, such opinions are mostly formed on half-baked truth and are based on a foundation of myths. The sad news is that these myths are popularised to such a large degree that they have almost become the truth.

There are certain myths surrounding SIPs (Systematic Investment Plans) as well. While experts and advisors try their best to do away with such notions, these myths still persist.

What you will be reading further is an attempt to debunk these myths and bring SIP closer to the facts:

Myth #1: SIP Investments Are Short-Term Investments

This is the most common myth surrounding SIP investments, especially when it comes to SIPs in equity funds. People are quite cynical about investing a regular sum in a mutual fund SIP, especially in equities. The myth is that equity investments are for short-term and debt investments are for long term.

The Reality:

The reality is vice versa. Debt products generate good returns in favourable or high interest rate cycles. However, equities provide opportunities to generate wealth in up cycles and buy cheaper in down cycles. Investing through SIP for long-term actually does a good job of cost averaging.

Thus, make sure to run your SIP investment for the long term to take advantage of the market volatility.

Myth #2: SIP Is Only for Small Investments

SIP investments mean investing small sums regularly. However, it does not infer that SIP is for small investors only.

The Reality:

In general, SIP investment means- regular, disciplined, and long-term investment done with the help of an autopilot mode. It is meantto provide an opportunity for all – investors with limited as well as high savings.

Whether you are a High Net-worth Individual (HNI) or a small investor,whether you invest Rs 1,000 a month or Rs 10,000 a month, rupee cost averaging works alike for everyone.

Myth 3: SIP Returns on An Absolute Basis Are Low

Many investors ignore the XIRR (Internal Rate of Return) of their investments and only look at absolute returns. Generally, in a short-term SIP, the absolute return may look lower than the XIRR or CAGR (Compounded Annualised Growth Rate) returns.

The Reality:

XIRR a better way of looking at your investment returns, when you are comparing it across other asset class yields. Remember that in a SIP investment, an entire lump sum is not invested in one go. Investments through the SIP mode are made at various points in time.Since there are no one point-to-point annualised returns, the returns are better captured using XIRR (taking into account the varying times of investment).

Myth#4: If You Agree On A Particular SIP Amount Every Month, You Cannot Change It

Another common myth about SIP investments is that once you commit to investing a particular amount, you cannot change it. People believe that if they change the amount, they would be penalised. This is untrue.

The Reality:

If you decide to invest Rs 1,500 a month through a SIP and want to change it to Rs 1,000 or Rs 3,000 next month, you have the total flexibility to do so. There is no penalty or charges levied for the same.

Myth#5: There Is Penalty Levied If SIP Is Stopped In Between

The Reality:

You can continue or stop a mutual fund SIP at your own convenience. There is no penalty or charges for stopping your SIP investment. You only need to provide a duly signed written request for the same.

Conclusion:

People have different opinions when investments are considered, especially SIP investments. However, it is necessary to examine the degree of truth in it before the myths are accepted as facts.

SIPs have been suffering the blow in the hands of the myths, worrying investors about the rumours that are floating. Instead, know the truth, and let your rational mind to shift from myths to facts. The unearthed facts should bring you a step closer to investing in SIP.

So, know your long terms goals, understand your risk profile and get set with your SIP investments!

The post Beware of these Myths about SIP Investing appeared first on Entrepreneurship Life.

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