There are numerous reasons why someone might need a personal loan. It could be because the person needs to consolidate debt (pay for high interest loan, for example), cover unexpected expenses (get a surgery, for example), make a major purchase (buy a car, for example). No matter what the purpose of personal loan is, it is very important that an individual should understand how personal loans works.
Getting a personal loan can be a big decision because you will be using the money for unproductive things in most cases (not investing, for example), therefore, you should do a research and find a lender that has low interest rate, does not charge high services fees, has flexible repayment term, does not charge for clearing loan before the loan term, etc.
You also need to check the eligibility criteria and the process involved. Some of the eligibility criteria includes, your debt to income ratio, credit score, income status, collateral, etc.

Making a budget is very important for everyone, not just certain segment of the society or certain group of people. Making a budget means you know much money you can spend and how much money you can save or invest. If you want to save money, invest money, pay off your debt, avoid getting into debt, buy assets, enjoy your life, you should start making your budget. If you are a student, it is very likely that you have limited income (either through a part time work or allowances you receive), it is also very likely that you have a loan (student loan). If you create your monthly budget, you will be able to manage your income properly, you might even have spare money to pay off your loan. However, while making your budget you need to as much realistic as possible. You should not be carried away to set budget for non essential items, or try to set higher amount for saving which might not be possible considering the money you earn.

Financial stability means...

• You have money for emergencies, for example, you encounter an accident and you have money to pay your hospital bills.
  
• You have multiple income sources and if one income source stops, you will still have income to pay your bills.
  
• You have passive income source and even if you lose your active income, money is regularly coming.
  

• In order to become financially stable you will have to do the following things:
  
• Save money in emergency funds. You can save 4-12 months of your monthly requirements, i.e. f you need $1000 in a month to pay your bills, you need $4000-$12000 in your emergency funds.
  
• Buy life insurance, health insurance, auto insurance, home insurance, etc. When you are insured, you will get coverage for accidents, losses and damages.
  
• Build investment portfolios. If you have invested in the market, you will have assets that can help you make money passively.
  

If you have $100-$200 you can buy 10K-20K stocks from a couple of companies, buy equity in a few business, or even buy real estate property and start generating passive income. However, if you do not have that kind of money, and you want to invest, you will have to invest regularly.

Regular investment means you invest every month, and you increase your investment every year. For example, you can start investing $100 very month, and every year you can increase your investment for $10-$20 dollar.

In order to invest regularly, you need to deduct 10-20 percent from your earnings and put it in stocks, ETF, Mutual Funds etc. Just like regular saving, you also need to invest regularly. If your earning is limited, you can allocate a small percentage for investment and saving at the same time. For example, you can save 10 percent of your income and invest 10 percent of your income.

1. Diversification: Stock indices provide exposure to a diverse portfolio of stocks, effectively reducing the risk associated with investing in individual stocks.
2. Liquidity: Stock indices are characterized by high liquidity, facilitating seamless buying and selling on major stock exchanges.
3. Accessibility: Stock indices offer individual investors a convenient means of entering the market without the need to invest in individual stocks.
4. Lower Transaction Costs: Trading stock indices typically incurs lower transaction costs compared to trading individual stocks.
5. Performance Tracking: Stock indices serve as benchmarks for monitoring overall market performance, simplifying the task of tracking portfolio performance.
6. Reduced Volatility: Stock indices generally exhibit less volatility than individual stocks, making them an attractive option for risk-averse investors.

If you have student loan, a house loan, a business loan, a car loan, a personal, and a credit card loan at the same time you have multiple loans. If your monthly loan repayment is just 10 percent of your monthly income, I think it is fine. However, if you are supposed to pay more than 40 percent of your income as a loan repayment, you are in real financial trouble. If you are in this situation, how do you begin repaying all of these loans if you do not earn enough to cover your monthly loan repayment?

First, you need to cut your other expenses drastically, even if that means to cut your expenses on essentials. The point is you need to have as much money as you need to pay your loan.

Secondly, you should start paying higher interest loan. In other words, you need to start paying loan with 10 percent interest first compared to the loan that has only 8 percent interest.

They say new life begins at 40. By the time you reach 40, you will already have a stable career, you already have a family, and you are somewhat settled. If you are still under 40 years of age, what are your financial goals before you reach 40 years of age?

Here are my financial goals before I become 40.

• Live a debt free life (zero debt)
  
• Have a saving that would be enough for emergency needs
  
• Eighty percent of total income comes from passive sources
  
• Have equity on a few companies
  
• Have investment in stock market, crypto market, and real estate
  
• Own a few businesses
  

If you are selling a product for $10 and your profit margin is 20 percent, you will make $2 from each sales. If you sold 100 products, your revenue will be $1000 and net profit will be $200. Reaching 100 sales is a milestone because this will show you whether you will be successful or not. How long it took to make that sales is also an important point to consider.

In order to generate first 100 sales, you will have to follow the following strategies.

Your product should appear high on the search results for at least 3 different keywords. This will happen when you use 3-4 different keywords in the title, tags and description.

Your product should receive  a lot of internal traffic as well as external traffic. You will have to market your product internally as well as externally.

Your need to focus on getting more positive reviews. Reviews help to generate sales, having more positive reviews means more sales.

Experts often compare Ethereum and Cardano because they are almost similar. Currently, ETH is world’s second biggest crypto coin and ADA is 8th by market cap. By market cap, ETH is almost 10 times bigger than ADA. In order to surpass Ethereum Market Cap, Cardano will have to gain value by 823 percent and trade at $4. Is that actually possible?

Ethereum has more constrained infrastructure, therefore, it has high operating cost, higher energy consumption and slow transaction speed. Cardano offers the solutions to the issues of Ethereum, however, Cardano development has not very sluggish.

Cardano’s proof-of-stake ouroboros consensus algorithm has better adaptability compared to Ethereums’ proof-of-work blockchian.
After the Alonzo upgrade, Cardano has become compatiablemwith smart contracts, therefore, it is often hailed as Ethereum killer. Soon, it s expected to introduce Vasil hard fork. This upgrade is expected to make Cardano more scalable and boost performance.
But at the moment, reaching its previous all time high of $3.09 is still a far cry.

If you are thinking about starting a business but lack of funds is stopping you, here is how you can build a business without any investment.

Affiliate Marketing:  Instead of just dropping links on facebook and Twitter, you need to use better strategy, such as making videos of products and posting videos on tiktok and youtube.

Dropshipping: You can use Fcebook marketplace to sell your products and outsource your products from Aliexpress, Etsy, even Amazon.

Print-On-Demand: If you managed to create products that go trending, you will be able to build 6 figures business through print-on-demand method.

Digital Products: You can use platforms like Koji r Creative Fabrica to sell your digital products without any upfront fees.

If you ask me among these business ideas that do not require any investment what is the best business model? The answer is Affiliate Marketing. You need professional skills for dropshipping, print-on-demand and digital products, but affiliate marketing requires you only to be a good marketer.