Private health insurance rises to hit on April 1

Given the increasing medical cost, every Australian is required to have health insurance. This insurance policy and the coverage it offers can provide several benefits to the insured and the insured’s family.

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Health insurance

The importance of having health insurance is undisputed. It includes several aspects of medical treatment and other expenses such as medicines and food supplements which can otherwise eat into savings. This insurance also provides tax benefits.

The most obvious benefit of health insurance is that it protects you financially during illness or accidents. It protects your savings from getting depleted for your hospitalisation and other medical treatments. Medical emergencies can get very expensive and they are unpredictable. So with rising medical costs, quality treatment this type of insurance is extremely helpful.

Accidents and sickness can lead to a rapid loss of savings. With an insurance policy, depending on the inclusions, a majority of costs are covered. Hence, this reduces the amount spent out of pocket by the person insured.

Quality treatment is also another benefit of having health insurance coverage. Most insurance companies directly settle bills with the hospital, which is also known as cashless treatment. In such types of policies, there is a network of hospitals where the insured can get treated. This makes quality medical treatment available for the insured without the hassle of paying for treatment expenses.

If you’re one of many Australians these days that have a sedentary lifestyle, then it’s a smart idea if you apply for health insurance. Keep in mind that working sedentarily has a higher chance for lifestyle-related diseases such as cardiac problems, diabetes and more. To protect the family from such shocks, it is best to buy a health insurance policy.

Yes, there are truly many benefits of buying a health insurance policy. However, there are some other health insurance information that you should check.

Read this: https://www.perthnow.com.au/lifestyle/personal-finance/private-health-insurance-rises-to-hit-on-april-1-ng-a6b4b1be5d2119030e0ff6c17acbc968

5 Reasons to Invest in an Income Property

Are you looking for ways to invest your money? Investing in income property has been a popular choice for many investors here in Western Australia. Many are interested in entering this market. Indeed, it is a smart business move, but unfortunately, this is not for everybody.

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Income property

When investing in income property, or any kind of real estate investment, you should understand that there are many challenges that go along with it. You need to have proper preparations because otherwise, you might suffer the negative consequences.

First, you need to get your finances in order. Investing in real property is a complicated matter. It is not just simply purchasing a house and lot as it can be riskier. With an income property, you never know exactly how your tenants will treat the property and how much work will need to be completed throughout the year. For that reason, it’s extremely important to have financial stability and a low-interest loan.

Once you’ve got your finances in order, the next step you should do is to study the market. Of all the markets, the real property market is one of the most malleable and it can change in the blink of an eye. Thus, it’s difficult to predict when it will go up again unless you’re thoroughly immersed in the market.

If you’ve already purchased your property and be its landlord, it’s your responsibility to collect rent, keep the books, file taxes, screen tenants, handle maintenance, work out the insurance plans, write the contracts, and more – these tasks are not easy so you need to be ready. Learn how to do such tasks or otherwise, you’ll experience lots of troubles in the future.

Owning an income property is very rewarding. If you know what to do, you’ll get so many good benefits. What are these benefits? Read this to know the answer: https://www.thebalancesmb.com/investing-in-income-property-2124810

Trouble with debt

Did you just hit the brick wall? Have you run out of money and have no available credit and everything seems maxed out? Well, you’re not alone!

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Debt

There are many people here in Western Australia who are suffering from debt. They have no easy way to increase your income, and there are still bills due this month. Their cable has been disconnected, and the power is next. They’re out of money and you’ve got bills to pay.

What is a debt crisis? It’s a situation when you, your business, or your country owes more than you can pay off in loans. However, a country has a major advantage over you – it can print its money. However, the best way for you to get out of debt is to sometimes to focus on the past. To look back and note what mistakes you made and the decisions that led you here. But now is not the time to contemplate the past. Now is the time for action!

Nobody likes to be buried in debt – all the mad creditors, the phone calls, and the utility company you need to take notice of what you have are all such a pain. This is truly a desperate situation and you need cash to solve this. In some cases, you need to sell what you currently have in order to pay for your debt. It won’t be pretty and it will likely be painful, but desperate times calls for desperate measures.

In addition, you also need to evaluate exactly who you owe money to, and how much you owe them. We’ll need this information later in your recovery. Once you’ve done this, the next step is to protect your income. Keep in mind that you should not allow your monthly bills, including your credit card, exceed your income.

For more on this topic, check out this blog post: https://www.moneysmart.gov.au/managing-your-money/managing-debts/trouble-with-debt

Perth house prices still in decline, CoreLogic data for October shows

You probably have heard from your friends or have read a few articles about the benefits of property investing and how it can reap you lots of profit. Perhaps, these things have encouraged you to purchase a new property and hopefully earn lots of money from it.

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The decrease in property prices

However, your purchase is only one single step to become a property investor. Many people want to invest in real estate. Few put forth the time or effort to learn what they need to invest successfully. First, you need to know whether or not real estate investing is right for you. Then, you should know the basics.

Real estate investing offers attractive benefits, including cash flow, appreciation, diversification, tax deductions, and competitive returns. It’s truly a worthwhile long-term investment.

There are many advantages to investing in real property, but the most popular is cash flow. One of the biggest reasons why people love to invest in property is income in the form of rentals, gearing, etc. However, cash flow doesn’t always mean positive. Positive cash flow means there’s money left over after paying expenses. Negative cash flow means there are more expenses than income.

Another advantage of real estate investing is appreciation. This means that the property you bought today will more likely to increase in value over time. Appreciation is a potential added benefit of real estate investing, but there’s no guarantee it will happen.

Market fluctuations or shifts in local economics can disrupt the local supply and demand. That changes the value of a property. This is especially true to Perth’s real estate market.

Today, Perth’s house price slump continues and this frustrates many property investors holding out for a long-awaited recovery. This hurts a lot of investors who have been waiting for many years and are now ready to sell their properties.

Read more about this Perth’s property issue right here: https://www.perthnow.com.au/business/housing-market/perth-house-prices-still-in-decline-corelogic-data-for-october-shows-ng-b881369948z

This is what it (really) takes to create a successful blog

A decade ago, many people roll their eyes when they hear someone telling them that he blogs for a living. But nowadays, you can name some family members or friends who get a paycheck for sitting on the internet all day and writing.

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Blogging

There are a number of reasons why people blog. Blogging has quickly become one of the most popular ways of communicating and spreading information. Today, you can find millions of blogs online and standing out and getting noticed is a tough challenge especially for new, inexperienced bloggers.

Blogging is also a great way to express yourself and share your passion. If you want your voice to get heard about your thoughts, feelings, and ideas, you can create your own blog for it. You can use your blog to connect and network with other people who share the same passions, whether your passion is business, personal finance, cooking, politics, photography, or marketing.

If you want to support a case, blogging can also be a smart way. Especially nowadays that more and more people spend a lot of their times online, garnering support and spreading awareness can be easier. Whether it’s a political, environmental or social cause, a blog is a great way to build awareness and garner support.

Blogging for business has now become a popular trend not only for large corporations but for small and medium-sized businesses in Perth as well. Businesses create blogs primarily to expand their online presence, connect with potential customers, promote their brand in a positive conversation, and even generate online revenue.

If you love writing and you feel that you’re good at it, you can actually promote your self by using your blog as your online portfolio. This way you can showcase your writing skill and experience and get the attention of industry insiders and earn you recognition as an authoritative source and thought-leader.

However, before you achieve all these things we’ve discussed, you first need to know what it takes to create a successful blog. Read this post to know how to do it: https://www.flyingsolo.com.au/working-smarter/professional-development/this-is-what-it-really-takes-to-create-a-successful-blog

ANZ email scam could allow criminals to steal your entire life savings

Email is an excellent communication tool used by businesses and private professionals. It is used by companies in informing you about their products and services. It is also used by people as a fast, convenient way to communicate.

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Email scam

On the other hand, email can also be used to deliver unwanted material. Frequently, it is used by people to deliver annoying and at worst, malicious materials which may cause considerable harm not only to your computer or mobile device but your personal privacy.

Some malicious emails are in the form of a spam or junk email. In fact, the vast majority of email sent on a daily basis these days are unsolicited junk mails. The most common example is advertising, which commonly includes pornography, dating, advertising, or gambling. There are also other forms of spam emails that offer you something that could make you get rich quickly. Keep in mind that if it’s too good to be true, then it’s a hoax.

There are a number of ways criminals can obtain your email address and it is important for you to know them so that you’ll know how to stay away from those. Criminals often use automated software to generate addresses. Or, they entice people to enter their details on fraudulent websites or invite them to click through to fraudulent websites posing as spam email cancellation services. Some criminals buy email lists from spammers.

Spotting spam emails should not be difficult. First and obvious sign of spam is when you don’t know who the sender is. If the sender is not in your contact list, you should already start wondering. In addition, if it contains misspellings like (for example ‘p0rn’ with a zero) designed to fool spam filters, it must be spam. And just like we’ve mentioned earlier, if it makes an offer that seems too good to be true, then you should get rid f it.

A simple email scam may not sound alarming but it is dangerous that it may steal your entire life savings. For more on email scams, check this out: https://finance.nine.com.au/personal-finance/anz-email-scam/2d6c6162-c085-49bd-b99e-fc683a6999f7

Bus company fined after treating drivers as contractors instead of employees

Once you hire your first employees, you already can call yourself as an “employer”. However, as an employer, you have some responsibilities to your employees, and to all future employees, relating to compensation. These responsibilities are codified under federal, state, and local laws.

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Employees

One of your obligations as an employer is to keep your employees safe. You must provide all workers with a safe, healthy place in which to work, under the provisions of the. This law applies to all employers. You need to ensure that your workplace is safe and clean so that it will not be a danger to your employees’ health. If your employees are under 18 years old, you have responsibilities to keep them safe – this is based on child labour laws.

Another responsibility is to treat your employees fairly. Treating employees fairly in the workplace is not just a moral responsibility. It is also necessary to ensure maximum company productivity and in the long-run, growth and success. When an employee is treated unfairly, it results in decreased employee morale.

You also must pay your employee his final paycheck as soon as possible when he leaves or terminated. It should be no longer than 30 days after termination (some states require more prompt payment).

More importantly, you should pay your employees properly. They spend time and effort working for your company so it is vital for you to pay them at least the minimum wage, depending on your employee’s skills and amount of working time (unless the employee receives tips or is somehow not subject to minimum wage.) If the employee is exempt and he or she is paid below a specific amount, you must pay that exempt employee overtime.

Employees who work for you for regular hours should not be treated as contractors. Rather, they should be treated as regular employees. Otherwise, you will be fined just like what happened to a bus company doing such.

Read the full story: https://www.watoday.com.au/business/workplace/bus-company-fined-after-treating-drivers-as-contractors-instead-of-employees-20190806-p52ead.html

Employing Staff

We can all agree that running a business is never an easy task. You may be able to operate your small business on your own for a short period of time, but as it grows you will need some help from other people. Hence, you’ll need to employ staff.

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Employing staff

But before bringing just anyone on board, you need to understand that extra manpower entails a whole new string of legal obligations, liabilities, expenses and paperwork. More importantly, you need to take it seriously as hiring other people to your business can make or break your business.

When looking for new employees, it is also important for you to be prepared. You need to prepare yourself well for the interviews and ensure you have done your homework. This means finding a list of questions for people to answer and asking each applicant the same question. Depending on the answer to each question, you should be able to analyse the applicants and compare between each one.

Trusting your instincts is a big NO when it comes to hiring new employees. Keep in mind that it is possible for someone who has criminal records and without valuable skills to hide in a uniform or job title. Do background checks. Normally, this search consists of confirmation of prior employment claims, determination of worker’s compensation claims and criminal and incarceration records, drug tests, credit history and driving record. You may also check their references and ask some relevant tough questions as this can be a good indication of how they perform under pressure.

Whatever position your business has to fill, it is important to pick the best and most qualified applicant – not only in terms of their skills but also in terms of their personality and character.

To learn more about how to properly employ staff to your business, read this: https://www.smallbusiness.wa.gov.au/business-advice/employing-staff

How to turn your great idea into a cash-boosting business success

Small businesses don’t have to be small forever. Same is true to your business. Many giant corporations began small, at homes or even garages, grew rapidly to become large, multi-national corporations.

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Business idea

One of the most important factors in building a healthy, growing office is having good cash flow management. It is not complicated and is well worth the effort because it can help you avoid financial stumbles.

Running out of cash is the most common reason why companies go out of business. This does not always mean that sales or profits were problematic. Instead, the business simply did not have enough cash in its operating account to pay its employees and other vendor bills.

Typically, the reason why many small businesses fail because the entrepreneur fails to pay attention to the business’ cash, instead they are so focused on sales growth or profitability. The reason that if the business has sales, it also has to have cash. Unfortunately, this is wrong.

As a business owner, you need to look for ways on how to increase your cash flow. However, you need to change your practices to focus more on profit. First, you need to change your operating procedures. While reducing expenses, you have to generate more sales. And to increase sales, try cross-selling by offering new services or goods that complement your current offerings. On the flip side, try auditing your administrative functions to trim expenses.

For any small business, innovation is also another key to your success. Keep in mind that customers are always looking for higher quality products at the right price, which is what you should be innovative with what you are offering, whether it’s a product or service. Innovation attracts more customers and eases the marketing process.

Generally, the best way to earn more and grow your business is about having smart ideas. Continue reading at https://www.perthnow.com.au/lifestyle/personal-finance/how-to-turn-your-great-idea-into-a-cash-boosting-business-success-ng-9c49fdce819322afe6a168322d195bee

Lock your phone in a safe: How the world’s most productive people avoid digital distractions

At almost every business conference here in Western Australia these days, digital distractions and their impact is a recent hot topic of discussion. Undoubtedly, it has affected several workplaces and how many small businesses and large corporation operates.

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Digital distractions

Workplace productivity is an essential recipe for your business growth and success. You will always want to maximise the return of labour and maximise waster hours. In many ways, technological advances have aided that pursuit, but they have also complicated an age-old problem. As the manager or business owner, it is your responsibility to combat productivity losses caused by disruptions and distractions.

Technology is not our enemy. However, according to certain studies, more than 30% of workers (especially in millennials) use their smartphones for personal activities up to two hours per working day. Overall, 69 per cent of full-time employees reports being distracted (and technology such as social media is one of the major culprits).

To fight against technological distractions, one effective solution is to develop proactive strategies and guidelines that give employees the chance to use technology effectively and without unnecessary distractions. Of course, we can’t totally ban technology and choose traditional practices with pen and paper. Hence, we should know how to control our employees by setting guidelines.

When they get bored, many employees resort to technology such as mobile games and social media as a distraction. This usually happens when they lack motivation at work. So, they’re more likely to pick up their phone and play a game or scroll through their Facebook newsfeed. You can counteract this by rewarding productivity.

One smart way to boost your employee’s motivation and capture their focus is by creating contests, competitions and challenges.

Learn how productive people avoid digital attractions and teach their ideas to your employees by reading this nice article from Smart Company: https://www.smartcompany.com.au/people-human-resources/productivity/how-to-avoid-digital-distractions/