How Do I Start A Business?

How Do I Start A Business?

Business Consulting, Finance
Have you ever been watching films like The Social Network and Jobs and were inspired to start your own business? You’ve thought of a great idea but didn’t know where to start? I know I’ve come up with 20 ideas but didn’t follow through with any of them because I didn’t know whether they would be successful or how to go about it. Through reading different websites and different articles, I have come up with what I think would be the most important steps when starting a business. Who knows, you might be the next Mark Zuckerberg or Steve Jobs. Choose a Business Idea Do you have an idea you are passionate about? The first step in any business is to have a great concept. This could stem from an…
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Are Investment Apps Making Investing Easier?

Are Investment Apps Making Investing Easier?

Finance, Investment
Are you new to the investing world and are unsure where to start? It’s a confusing time trying to understand the stock market or what the different is between a mutual fund and a managed fund is. (Believe me, that took a lot of time). With the introduction of apps such as Raiz and Spaceship, investing has become easier to understand and more accessible. These apps can help kick start your career and diversify your portfolio with one click of a button. Even if you have been investing for years and are an expert, these apps can also help you make money. Here are 4 investing applications to help you build your wealth for the future. Raiz Raiz is a micro investing app that allows you to invest small change…
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Shopping or Networking?

Shopping or Networking?

Business Consulting, Finance
At the start of this month ECON Business Solutions ditched the office and went to Dandenong Plaza to talk to the public about our business. This wasn’t an ordinary event, we wanted to educate potential clients about their finances and offer advice to help their current situation. We attracted their attention through gimmicks like our spinning wheel and marketing material. We recommend doing this for all businesses because it was a direct method to talk to our target audience and market our business. Our goal of the event was to create brand awareness for our business and to gain potential clients. We had our credit management department and our brokers ready to give guidance to anyone that needed it. We also provided marketing material such as flyers and a banner…
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4 Things to Look for in a House Inspection

4 Things to Look for in a House Inspection

Real Estate
Buying a house is one of the special things in your life. Going to inspections and looking at the size of your new backyard or the decor of the house can be a wonderful moment, however, when it comes to buying a house there are more things to consider.  Here are 4 things to look for when you buy a house that could save you money.   Look at the house structure. When you buy a house its important to look at the integrity of the property. If you see any holes in the roof or loose wires it could mean spending more money to fix than what you originally thought. It is also important to focus on whether the house suits your needs such as the number of bedrooms…
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Buy Now, Pay Later?

Buy Now, Pay Later?

Credit File Repair, Finance
Within the last decade, new forms of credit lenders have become available for everyone to utilize. People are steering away from credit cards or small personal loans and moving towards alternative lending apps such as Afterpay and Zip Pay. The aim of these apps is to spread the cost of a purchase overtime without having to pay interest. This can be convenient and beneficial; however, they can also be quite problematic when used without caution. Through recent develops in technology, what could be only available through a credit card in the past, can be easily done through your mobile phone. It’s a simple process: Download the app on your phoneCreate an account that includes an email address and mobile numberConfirm you are 18Enter your debit card or bank details After…
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The Process of Removing a Default

The Process of Removing a Default

Credit File Repair, Finance
What Is A Default? A default statement is an amount owed to a creditor that an individual has failed to pay overtime. This statement is recorded in your credit file and can affect your credit score. What Is the Default Listing Process? The process of getting a default is outlined in the Privacy Act 1988. This legislation specifies all the requirements and procedures towards credit such as how the listing is placed. For a default to be listed, the individual must have an overdue payment towards a credit lender.  The lender is then under legal obligation to notify the individual that there is an amount that is owed and unpaid in their agreement. A creditor would then send out Section 6Q and a Section 21D notices of the Privacy Act…
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What Is My Credit Report?

What Is My Credit Report?

Credit File Repair
Our credit file determines our financial future. It is full of the personal and financial information that credit providers use to assess our level of risk. This Information Includes: Our credit history consists of our financial records that includes our previous loans, related businesses, credit cards or varies other payment plans.   If you have made a prior attempt to gain finance, it would be recorded and placed on your credit file to be reviewed by any credit lender. Your credit rating is derived on a scale that determines your level of risk. The higher your credit score, the lower the risk to the lender.                                   Conduct of repayment is the record of how consistent you have been with payments you have been making towards any previous finances. In your credit file,…
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Beginners Guide: Where Should I Invest?

Beginners Guide: Where Should I Invest?

Finance, Investment, Real Estate
"Higher the risk, higher the reward" This is the main thing everyone knows about investment. However, when it comes to investment, it is important to reiterate "Don’t invest more than you are willing to lose" Here is a guide into some of the places where you can invest and what the advantages and disadvantages could be. Savings Account Savings account is a guaranteed way of getting a return on your investment, however, it doesn’t yield a high return. Advantages Having a savings account is low risk, whatever money you put into your account will generate interest overtime.Savings account is one of the most secure ways you can invest in due to the stability of banks and there is little possibility that you would lose the savings account. Disadvantages A savings…
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Do You Know The Basics of Investing?

Do You Know The Basics of Investing?

Investment
This week is World Investment Week! To most people this doesn’t mean anything however, investing is a great way to make money! Let ECON Business Solutions turn you into the next successful investor! What is Investing?   We’ve all heard of the term investment, but what does investing actually mean? Investing is when you put money towards an outside avenue such as stocks, a savings account or property for the intention of gaining a financial return. It can potentially be a gamble because of the unforeseeable factors of the future. It does not guarantee the amount of return you will generate due to the risks it may involve; however, some high-risk investments can yield high profit returns. Why do we Invest? The aim of investing is to gain a financial…
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