Reginald Chan

Category: Lifestyle

Lifestyle talks about everything about life, business and fun. This is one topic that is related to life and not so much on business nature.

  • How to Stay on Top of Legalities After New Baby Arrives?

    How to Stay on Top of Legalities After New Baby Arrives?

    Welcoming a baby into your family is no laughing matter. You’ll have to consider many things, including the room for the new family member, future expenses, future plans, and so much more. Parents get caught up in these things that they tend to forget that there are many other aspects they need to take care of when a baby arrives in a family. What’s worse is that those things are essential for the baby.

    It might sound odd, but the truth is that there are a lot of legal matters involved once a child is born. Most parents overlook this part of childbirth, and we can’t blame them. It’s exciting bringing a human baby into this world. As parents, it will be your duty to incorporate them into this world, which means handling their legal documents.

    According to the Washington Post, there are 14 important documents that you need to secure for your child. While not mandatory, these legal documents are going to guide your child into becoming a legitimate citizen of the country. As such, you need to manage these early on so that your child won’t have issues with documents in the future.

    Why Staying On Top Of Legalities Is Important

    A lot of people don’t have the drive to settle legal documents, but as parents, you are obligated to help set up your child after he or she arrives. If you don’t have the time to do so, the good news is that companies that organize your legal documents and even digitize them, so they are available for years to come. Managing these legalities early on is important as it helps set up the life of your baby. Unless you outsource the entire process, no one else is going to do this thorough process for your child other than you. However, it’s more than just about legitimizing your child’s identity.

    The Important Documents

    The first document you’ll need to secure is the easiest one to get, which is great. The birth certificate is proof of your child’s birth. This document includes essential information such as the name of the parents, the place of birth, the weight of the baby, and basically just about anything regarding the new family member.

    Most hospitals will help you manage the birth certificate, so this shouldn’t be something you should worry about. Make sure to get this and make numerous copies of you. Once your baby grows up, your child will need this document for various purposes, such as securing government IDs, enrolling in school, and even getting a job.

    Social Security Numbers weren’t gotten until you applied for a job back then. However, times are way different today. The Social Security Administration itself recommends getting your baby their own Social Security Number immediately. This will help you get them health insurance, among other things.

    Your pediatrician will help set up what’s called an immunization record as well. This document details all of the vaccines and shots that your baby has been given. This document is vital as some shots aren’t supposed to be administered multiple times. These are some of the necessities you need to secure. 

    Next up, you’re going to want to consider some optional but highly recommended documents that will help secure your child’s health. These include life insurance packages, health cards, and more. As you can see, there are many documents that you’ll need to secure after your baby arrives. Just how can you manage to stay on top of these legalities?

    How To Manage The Legalities

    First and foremost, you’ll need to plan ahead. You know when your child is going to be born, so you have the time to prepare everything you need for the special day and the hectic ones that come after. For starters, you’ll need to ready your own legal documents. Some of the ones that you need to prepare ahead are your birth certificate, Social Security number, and insurance plan, if there are any. Most of your child’s legal documents will require you to present your as well, so make sure you come equipped with the papers.

    Another thing you’ll need is money. Childbirth is an expensive process, but the fees don’t stop there. You’ll also have to pay for some of the documents and insurance plans too. The good news is that document organizing isn’t as expensive as childbirth. Last but not least –  free up your schedule. You’ll need to have excellent time management skills if you want to finish all documents within a few days or so. You won’t have a lot of time to spend with your child during the days after their birth, but it will all be worth it eventually.

    Most of the documents we’ve stated above are for the safety and security of your child. Giving your child health insurance is near impossible when he or she lacks the necessary documents. If the pandemic has taught us one thing, it is that we all need insurance. As such, it’s a must to have your child’s life, and health secured immediately.

    Once your child grows up and becomes a fully-functioning adult, these documents will help them secure a career for themselves. It basically sets them up for success. Without the right documents, they might not be able to get loans, benefits, and other helpful assets.

    It’s important to make sure that all of the details given for these documents are accurate. The process of revising legal documents takes a lot of time and effort. Way more than the time and effort it would take for you to set these up properly upon your child’s birth. It’s more practical to stay on top of these legalities immediately.

    Last but most importantly, the documents are there to protect your child in the case that something bad happens to you. We can’t predict what happens tomorrow or the day after. Documents such as wills, guardianship, and others will ensure that your child stays protected and prepared in the worst-case scenarios, no matter how unlikely.

  • 3 Ways How Tech Can Save Your Time and Money

    3 Ways How Tech Can Save Your Time and Money

    No one will deny that technologies have become an inseparable part of our daily lives. And perhaps we got used to them so much that we no longer notice how much they affect our usual routine – whether it be work or hobbies. Technologies are created to help and take on the most mundane tasks and automate them so that we can focus on more important matters – such as how to expand our businesses or customer support.

    The perfect example of how useful technology is, is the whole concept of a home office, widely used in pandemic conditions. It allowed so many people to save their job positions or continue running their businesses. Not to mention the amount of time they save you every morning as you don’t need to reach the office to be able to work.

    You may consider to buy an AR Software or install a time tracking app or find something even more convenient to increase your business’ productivity and efficiency, but read more about how technologies save your exhaustible resources:

    Cloud Services

    It is not just about storing data in the cloud, as you can transfer accounting, CRM, warehouse management, and telephony there. Cloud solutions are great for companies with remotely working employees or those who work on a freelance basis. The team gets a set of tools necessary for the work, and the only thing that is needed is a stable internet connection.

    With cloud services, you can manage your business from any device, including your smartphone. You will always be aware of how the company is doing, and you will be able to quickly solve work-related problems no matter whether you are on a business trip or vacation.

    Cloud solutions help you save money on hardware purchases as well. For example, if you are launching a new promo page for an ad campaign, there is no need to spend money on the server. You can easily rent it in the cloud and pay only for the resources that you really need.

    Workflow Automation

    Even the most professional specialists can make an error when dealing with everyday routine and critical tasks, and incorrect or delayed decisions will make your company inefficient. Automated systems based on definite business rules can significantly reduce the possibility of human errors.

    The software can handle data streams, notifications, send emails, post on social media, and more that will free up your most vulnerable resource – your employees’ time and attention to complete critical, creative tasks. Besides, automated workflows that are performed proactively respond to an incoming trigger and ensure a timely response to any request from your customers. It significantly increases customer experience, satisfaction, and loyalty.

    Online Advertising

    Besides contextual, teaser, and banner ads, advertising via social media is rapidly developing. Promoting your products or services online allows you to immediately answer customer questions, give them the necessary information, conduct surveys, votes, and email newsletters.

    The ability to customize ads specifically for your prospective clients is another advantage: you can set up views based on time, geographic location, interests of your target audience, and so on. You can monitor views through statistical services and quickly evaluate the effectiveness of advertising.

    Compared to other advertising types, online advertising costs are much lower due to its various options and an enormous quantity of apps and platforms that you can use for free. Switching to online ads will allow you to focus on the content, reduce its production time, and be more precise with your target audience.

    Conclusion

    It is quite hard to imagine leaving home without your smartphone, let alone a world with no technology at all. Some of it is so integrated into our lives that excluding them would disrupt the flow of usual processes.

    However, don’t be mistaken – while technology is without a doubt very beneficial to both businesses and individuals, sometimes it can be too much, as its influence can be found in almost all spheres of life. Such a significant impact sometimes leads to people feeling like they need digital detox or reduce how much tech they use in general.

    The key is to find the right balance. By avoiding the overuse of technology and letting it take on only those monotonous and time-consuming tasks, you can allocate more time for creativity and increase your business’ productivity and efficiency.

    Examining your business field as well as your working routine will allow you to determine which tech solutions will work best for you. Your employees will benefit by not being overloaded with excessive technologies, and it will also impact total operating costs, in a good way.

  • How To Calculate Your Credit Score

    How To Calculate Your Credit Score

    Whether you are applying for a loan or trying to take out a second mortgage on your house, you will definitely need to know a thing or two about credit score. It might come as a surprise to you that beyond the financial matters, your credit score can have an impact on your career as well. Many companies now look into potential candidates’ credit scores before they can decide whether to offer them a job or not. Furthermore, a poor credit score can be a deal-breaker for a hesitant landlord who will likely refuse to take you on as a tenant, assuming you won’t be able to pay your rent on time.

    In the United States, three main credit bureaus are responsible for issuing credit reports. However, it is not uncommon to find discrepancies between the figures issued by each due to falsified information. It is your responsibility to constantly review your credit score and make sure that your credit information is correct and up to date. To do so, you need to have a clear understanding of the calculation process. To calculate your credit score, you will need information about the below five factors that combine to make up the final figure. So, continue reading on.

    1. Payment History

    Your payment history is perhaps the most important aspect in determining your creditworthiness. This information lets potential lenders understand what kind of a borrower you are and helps them identify the level of risk associated with lending you their money. Creditors consider how many times you defaulted on your payments, how often do you miss a bill’s due date, and the amount of outstanding payment that you currently have. Your late payment information accounts for 35% of your credit score. This should give you an idea about the importance of your payment history and how by doing some simple changes to your payment behavior, you can actually boost your credit score. If you can, always aim to pay your bills once you receive them. More often than not, having a poor credit score is a result of negligence rather than financial capabilities. 

    2. The Amount of Money You Owe

    The amount you owe is a depiction of your current and future financial stance, which is equally as important as your payment history. How much you currently owe to all of your creditors, including credit card companies, car and house insurance, and other outstanding payments, has a huge impact on your credit score. For a high credit score, this figure should be significantly lower than your aggregate income. According to the credit experts at 3creditscores.net, lenders are more willing to loan money to those who prove that they can live within their means, as it makes them seem like financially responsible individuals. On the other hand, accumulating debt left and right and owing thousands of dollars in whichever capacity will make you seem like a high-risk debtor. Lending institutions are profit-generating establishments after all, so unless lending you money can help them make any, you won’t really have a chance. The amount of money owed makes around 30% of your final credit score, which is not a small portion that you can afford to ignore. 

    3. Credit History Length

    If you want to be judged creditworthy, you need a long enough credit history with lots of data for credit bureaus to review and declare you as such. While this might seem counterintuitive, but it is actually true that the more you use your credit, the more likely you are to have a good credit score. Many people think that the best approach to protecting their credit score is to distance themselves from credit altogether and just let it be. However, it is all about being a responsible debtor who can commit to timely payments and full settlements. Credit history length accounts for 15% of your credit score. Although not as big of a portion as the previous two factors, yet it is still worth dedicating the time and effort to make sure you build a long and healthy credit history.

    4. Accounts Diversity 

    Holding a variety of accounts other than the basic personal and savings will increase your creditworthiness. Banks and other lending institutions value clients with diversified accounts more than others who hold standard ones. Home loans, retail, and online shopping credit cards are all types of accounts that creditors like to see and can improve your chances of being judged as creditworthy. However, to make sure you are doing this right, consult professional financial advisors to help you understand the types of accounts you can benefit from and can enhance your credit score at the same time. Achieving proper account diversity will help you improve your credit score through the 10% portion of the total figure.

    5. Most Recent Credit Activity

    The final 10% of the credit score calculator is based on information about your most recent credit activity. Regardless of your reasons, opening new accounts and applying for new loans in a short period will hurt your credit score. Creditors see such ‘frantic’ financial behavior as alarming and one that calls for a harsh creditworthiness assessment. To avoid falling for this typical mistake, try to spread your financial activities and inquiries over a longer period, otherwise, make sure you at least have a good explanation. 

    As explained earlier, it is your responsibility to look into the often unmatching credit scores calculated by different credit bureaus. With the above information, you should now have a clear understanding of how to do that. However, as you probably know, calculating your credit score is only part of the equation. What is more important is how you can improve it and become a favorable debtor that creditors can trust and accept to take on. Improving your credit score is worth taking the time to look for new and creative ways to make it happen. Even if you think you don’t need it today, you should make that a priority because you will definitely need it at some point in the future.

  • Reliable Options That Will Help You Invest Your Money For Your Retirement

    Reliable Options That Will Help You Invest Your Money For Your Retirement

    Saving for retirement should be a top priority for everyone. It doesn’t matter if you’re just starting your first job or you’re about to move away from the workforce; if you have time, you have to make the best out of it. For that reason, most people start looking for profitable investments to grow their retirement portfolios. However, not every kind of investment can be described as smart, and that can only be judged according to your situation. This is why we’re going to go over effective options that will prove to be reliable ways to invest money for your retirement. 

    Retirement Accounts

    First things first, let’s talk about the retirement accounts that will hold your investment returns. You have three options: saving money in the retirement account offered by your employer, opening a self-directed IRA, or saving in a normal investment account. Let’s explore the three options in more detail. 

    1. Employer-Sponsored Plans

    Your employer may offer you more than one option to choose from or they can just offer a default account for all employees. An employer-sponsored plan can be 401(k), 403 (k), HSA, or other plans. These plans can either be traditional or Roth. A traditional plan will allow you to contribute pre-tax money, so you can escape taxes on the money you put into the account, while a Roth plan uses income after taxes, so you can get around taxes when you withdraw from the plan. One of the greatest features of this option is when your employer offers to match your contributions to the plan, which is something you totally have to take advantage of. 

    2. Self-Directed IRAs

    Perhaps the downside of employer-offered plans is that you become restricted by their investment options. Alternatively, you can open a self-directed IRA account. The financial planners on this site explain the advantages of this option, where self-directed IRAs give you more flexibility in diversifying your portfolio beyond the traditional forms of investment. You’ll still be able to invest in the traditional categories, like bonds and stocks, but you’ll have the added advantage of seeking alternative forms of investments as well. 

    3. Investment Account

    While the first two options offer the best deals for retirement investment, they have one significant shortcoming. These kinds of accounts are capped at a certain maximum regarding the money you can save on them monthly and annually. You may not have any issues with this limit if you’ve started early on, with more than 30 years left until your retirement. However, for those who’re looking for ways to catch up on their savings while nearing their retirement, a normal investment account offers them more flexibility. Unfortunately, this option won’t include any tax-advantages. 

    Reliable Investment Options

    With your savings account in place, it’s time to address the question you’ve been wondering about. What should you invest in? Technically speaking, you can invest in any category. Asset classes usually include three categories: stocks, bonds, and cash equivalents. There are also alternative forms of investment. The only factor that will restrict your freedom is the age at which you start saving for retirement, although a good retirement portfolio will usually include all of the previous forms of investment. 

    That being said, here are your options.

    1. Stocks

    Stocks are best for long-term investments; they give you the largest investment returns over the years. However, they’re highly volatile in nature, and that makes them a poor investment choice if you’re looking for a short-term investment. That means that they’re high-risk investments that you should stay away from if you’re nearing retirement, but they’re great if you have more than 30 years ahead of you to save money. A long duration of investment can also overcome the effect of inflation, adding to their investment return vs risk advantage. 

    2. Bonds

    Bonds come somewhere in between stocks and cash equivalents in both the risk factor and the investment returns. They’re not as volatile as stocks, and they’re also secure and stable in their interest accumulation. All of that makes them a safer form of investment. Moreover, you can also find bonds that provide tax-free income. On the other hand, they give less long-term returns compared to stocks. It’s common for people to change their asset allocation as they age, decreasing their investment in stocks and increasing it in bonds. 

    3. Cash Equivalents

    Cash equivalents offer the least returns, but they also come with the least risk of all forms of investment. They have the advantage of being highly liquid, allowing you to withdraw them at any time without penalties. Cash equivalents are usually used for short-term securities, and they include certificates of deposit, treasury bills, corporate commercial paper, and other money-market funds. 

    4. Alternative Investments

    In addition to the primary three investment assets, many people are increasingly seeking alternative investments. These investments can be in the form of private equity, real estate, gold, or other hard assets. Some also invest in artifacts and the like. Although these forms of investment may not be as secure or reliable as the primary three assets, they’re a great option for mitigating the risk that comes with market fluctuations. For instance, you may find the stock market crashing all of a sudden due to a worldwide pandemic. Unless you have an alternative form of investment that adds to your portfolio during such challenging times, you’ll suffer from the aftermath of that crash. 

    However, alternative investments are not available with all retirement accounts. You’ll have to open a self-directed IRA with a passive custodian to have the freedom to invest in any assets you choose. While a self-directed IRA may offer you a certain level of freedom in alternate investing, you’ll still be limited to the products your bank or financial institute sells. To invest in a more controversial way, like cryptocurrency, you’ll need a passive custodian.

    It’s never too early to start saving for retirement, but it’s never too late either. You can always start at any point in your life, although starting early surely gives you the advantage. The whole difference lies in the way you approach retirement investment. For instance, risky investments like stocks are better when you’re in it for the long-term, while more secure kinds of investment can be a smarter option the closer you get to retirement. In short, your options will significantly vary depending on the age you start saving and your estimated retirement age.

  • Building Long-Term Customer Relationships: Lessons from the Casino Industry

    Building Long-Term Customer Relationships: Lessons from the Casino Industry

    Every business should have strategies in place to help it build long-term customer relationships. Customers who repeatedly visit your business, website or any other sales channel are much more valuable over time and can transfer their love for your business to others. Building these relationships is never easy, but there are important lessons to be learned from an industry that has been able to do this over and over again – the casino industry.

    Complimentary Rewards

    A common feature among casino websites is how generous they are with their complimentary gifts. According to several surveys, only about 40% of companies not in the casino industry give customers, leads or other businesses they are building relationships with complimentary gifts.

    From free drinks and meals to hotel rooms, casinos lean heavily into this relationship-building strategy and it is relatively easy to find examples of Australian gambling websites doing this. To get started, think about what your clients and customers want. For customers, gift cards are inexpensive and work really well while for larger clients, you might have to go with something bigger.

    Taking Advantage of Events

    One of the best ways to make customers feel important is to invite them to events. Your repeat customers, especially other businesses, likely have a lot in common, and getting them together for an event makes them feel appreciated and thought about.

    Additionally, you can use your social media as a way of building these relationships by inviting people who share your products on social media to VIP events.

    Demographic Preferences and Segmentation

    Although casino players might look like they have the same needs, that is not always the case. A close look reveals that older players spend about 80% of their budget on gaming and the rest on food while younger generations spend about 30% on gaming and 70% on other activities.

    This means that if you were to come up with a marketing campaign, you would advertise your games to older generations while advertising a full-featured experience for younger generations that focuses less on gaming and more on the activities that surround it.

    The lesson here is that by segmenting your demographics and cross-referencing them with their spending habits, you can find out what they prefer. You can then invest in the products and services they are likely to spend money on. Doing this makes your customers feel catered to which improves their relationship with your business.

    Partner with Other Businesses

    Casinos know that players do more than sit at the table and play. They may need food, drinks or even hotel rooms. They collaborate with other businesses to cut deals to offer additional services to their high-end customers and big spenders. For example, it is common to see casinos cutting deals with travel companies to offer discounts to their best customers.

    To use this strategy, think about what else your top customers and clients need besides your products and services. Then, cut deals with other businesses to offer discounts to your customers and you to do the same for their customers who need your products and services. The casino industry builds strong customer relationships in ways other industries struggle to. The casino industry views relationship-building very differently, and if your business can have a closer look at how it does this, you could end up with valuable lessons that help you build stronger and better customer relationships in your business.

  • Here’s Why Your Office Needs a Coffee Machine

    Here’s Why Your Office Needs a Coffee Machine

    In almost every workplace in the developed world, there is a certain ritual that most employees like to start their days with. The act of drinking coffee before starting work with your coworkers is a time-honored tradition that has been enabling workers to get mentally and physically prepared for a hard day’s work for hundreds of years now. There are also a few ways in which workers have been pushing to make their pre-work coffee ritual as efficient and enjoyable as possible. This article will seek to shed some light on a few concrete reasons why you should work to get a new coffee machine for your office by providing a few key improvements that including one of these simple machines will provide your workplace with. The days of wasting time before work waiting in line for an overpriced cup of coffee are over. Getting a coffee machine at work will improve your overall experience every day, so why not treat yourself? 

    Read on to find out a few other ways that getting a new coffee machine for your work office can drastically improve your quality of life. 

    Convenient

    One of the most appealing parts of having a coffee machine in your office is the potential convenience that having one can offer to you and your coworkers. By having a coffee machine on your worksite, then you will no longer get stuck in the morning rush at your local Starbucks, Tim Hortons, or whatever coffee shop you like to frequent. Depending on your timing there can often be massive line ups which can serve to set your morning back quite a bit, causing you to be late or rushed to begin your shift. By having a coffee machine on site, then you will never again have to wait in line and hope that the people in front of you are fast enough with their orders to get you to work on time with a coffee in hand. By having a coffee machine in your office you will be able to get your day started while also making sure that you have prepared everything necessary for your job, which you cannot do from a line at a coffee shop. 

    Affordable

    Another excellent reason to include a coffee machine in your workspace or office is that it can help to make your morning coffee habit much more affordable. By spending on average a few dollars every morning to buy yourself a nice cup of coffee, you will be spending hundreds or even potentially thousands of dollars a year on your morning coffee routine. By getting a coffee machine for your office, then you will be able to have much more control over how much money you spend daily on coffee and allow you to save at least a few dollars per cup. If you do not want to outright buy a coffee machine for your office then there are other options. Experts at PureBean.com.au recommend renting out a coffee machine for your office temporarily. This will allow you to experience what it is like to have a coffee machine in your office, without committing the long term cash investment required of some more expensive coffee machines. By renting out a machine, then you will also be able to explore different options and see which setup provides you with the best overall cup of coffee. 

    Inviting

    There are few things more inviting than being tired and walking into a room with the smell of fresh coffee brewing. This can help to create a more relaxed environment and allow your office to be less stressful, making you more productive. You may choose to set up a little corner for your coffee setup, which can include things like sugar, coffee cups, milk, and other essentials for your morning cup of joe. Why not make your morning caffeination as enjoyable as possible. 

    Note: If you are looking for the best Breville espresso machine, you don’t have to look far. Click the link to learn more!

    Social aspect

    In almost every single workspace a coffee break is a time when coworkers are able to gather with one another, talk about their work, and recharge with a nice cup of coffee. By having a nice area in your workspace, which is designated for coffee breaks, then you will see a noticeable rise in camaraderie and good spirits among the workers. A great way to set up a coffee station and area is to first get all the necessary components. This could include a coffee maker of whatever size you choose, a small fridge to store milk and cream in, and even a pantry, which you can leave things like sugar and coffee mugs in for storage. If you really want to step it up, then a great addition would be a nice coffee table and some comfortable chairs or couches which your employees could then sit at in order to properly enjoy their coffee break. If you really value your employees and coworkers’ happiness, then you may even consider taking a pool to see which type of coffee everyone prefers, and use that information to purchase coffee for workers with the company’s money. This is a great way to get your workforce to work early and keep them happy throughout the day. 

    Hopefully, this article has been helpful and informative regarding the various reasons why getting a coffee machine for your office can help to improve the quality of your overall experience for you and your coworkers on a daily basis. Whether we like to admit it or not, coffee is an integral part of the routine for most workers, regardless of their occupation. Whether you are a starting construction worker or the CEO of a large corporation, chances are pretty high that you will be starting your day with a cup of coffee. If you or your coworkers have any doubts about the potential benefits of including a small coffee machine in your office, then you should try to get them to read the aforementioned points in this article to help them see how much it will actually benefit you to have a coffee machine on site for all workers to enjoy.