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4 effective way to manage your debt



effective way to manage your debt

Running a business is not risk-free. No matter what type of business you have or what its size is, you cannot run it without taking a risk. Lending money or asking for a loan is a risk as well.

As a business, you have to take a loan for a lot of things. Similarly, you have to provide services to clients on credit bases. Both of these situations are inevitable.

Taking a loan means you will be in debt, and if you don’t pay it off, it can lead to various consequences.

For instance, the lender can sue you or hire a debt collection agency for recovering their losses. That is why you must manage your business debt. A business with tons of debt won’t survive long in the market. So here are some ways through which you can manage your debt before everything goes south.


Here are some steps you can take for managing your debt.


  1.  Before you act, figure out your situation

It is crucial that you understand your situation, meaning how many debts you owe and to whom? Prioritize the debts if you have multiple debts, and pay them one by one. Understand your budget as well, and figure out ways through which you can pay the debt without punching a hole in the budget. Also, make sure that you do everything in your power to start paying the debts, even if you start small. Otherwise, other companies or lenders can file a lawsuit.

Also, if you don’t pay the taxes or government loans, you run the risk of the government overtaking everything you have which includes your assets and house.

  1.  Increase your sources of revenue

The quickest way to pay off the debt is to get more revenue and cash. To do that, you have to find ways through which you can increase revenue for your business. Here are some ideas:

Offers and discounts: You need quick cash, and the easiest way to do that is by offering discounts or offers. It will appeal to tons of customers, who would pay you cash upfront for these services.

Merchandise: It will require a bit of investment, but consumers love buying merchandise from their favorite brand. Who doesn’t own a Starbucks cup? Right? So, if your target market has a scope for the same, try selling these merchandise goods at a lower price. It might help you get quick cash to start paying off the debt.

Raise prices: It is a bit contradicting from the first point, but if your products have a high demand in the market, this could work. It is a great way to ensure that you get a good profit on your services and pay off the debt. Even a small amount can keep the debt collection firm in your good books, as it assures them that you will pay on time.

Social media: Start promoting your small business more on social media. These platforms can boost your sales and increase revenue which is the point. It is inexpensive as well, you need the right content and consistency for getting traffic through social media.


  1.  Renegotiate terms of loans with bank

A bank wants its money so they would be open to renegotiating the terms. You can talk to the manager for:

  • Either lowering the interest rate, or
  • Increasing the period of repaying the loan. It will give you enough time to figure out a solid plan to pay the debt.
  • In some cases, the bank or lender may even renegotiate the amount and accept a partial payment or lower amount.

Be proactive as the bank or the creditor doesn’t want to lose money, and it will if you go bankrupt. So, if you provide real facts and figures, they might go for any of these terms.


  1. Reduce business expense 

Another way to cut back on budget, and use the reserve to pay off the debt, is to reduce business spending. You can do this by:

  • Leasing a small space or working out of co-working spaces. It is a great way to cut back on rent and maintenance, and if you are not using the whole place, why pay for it?
  • Instead of hiring new employees at a time like this, go for freelancers or consultants. But be vigilant, it can be more expensive if you are not cautious.
  • Ask your vendors for discounts.

When cutting costs, be smart about it. Don’t cut costs from departments that will help your business in the long-term. It can be counter-productive.

Trying these methods is good, but at the same time be realistic. Some businesses don’t survive and don’t go neck-deep in personal and business debt to save one, that cannot be saved.


iOS 14 First public beta is here: First chance to try it



Would you like to download iOS 14 First public beta on your ios devices? Yes, this is the first ios beta update which is recently rolled out with new features, the final version is yet to come.

So finally the ios 14 public beta is available to download now, The iPhone users can download the beta update now. The ios 14 beta update launched with tvOS 14, iPadOS 14, and macOS 11 Big Sur public betas.  Apple launched the ios 14 with lost of new features, the update was formally announced at WWDC 2020.

The members of its developer beta program would be able to try out on their devices. Most of those public betas – iOS 14, iPadOS 14, macOS 11 Big Sur, and tvOS 14 – are available today, though at the time of writing, the watchOS 7 public beta is ‘coming soon,’ according to Apple’s beta site. It’s unclear when it will be available.

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PS5 Release, Price, Games: Frequently Asked Questions



PS5 is all about to launch by end of 2020, This would be one of the best and competitive gaming console announcement of this year. The gamers are quite excited about the upcoming Playstation 5 release and can’t wait to know about the features, price, design and the no. of games to play on PS5.

The internet is full of users queries regarding PS5, So here we come out with the PS5 Faqs and their solutions. Like When PS5 will be available, how much it will be costlier, How it will bet better than PS4 and Xbox One? Why they should buy PS5? and many other PS5 details.

  • What is it? The Sony PS5 is the next-gen PlayStation console.
  • When will it release? “Holiday 2020”, so between October and December 2020.
  • What can I play on it? Loads of games! They include a new Spider-Man entry, a Horizon Zero Dawn sequel, a Demon’s Souls remake, Resident Evil 8 and much more to come.
  • Will PS5 have VR? Oh yes. The next-gen console will be compatible with current PSVR hardware, and there are also rumors of PSVR 2.
  • What will the PS5 cost? TBC. The PS4 and PS4 Pro were both $399 / £349 at launch, but we expect the PS5 will cost somewhat more. Leaks have suggested around the $499 mark.
  • Can I play PS4 games on the PS5? The PS5 will definitely be backwards compatible with “almost all” PS4 games – earlier generations are still to be confirmed. It will launch with support for the majority of the top 100 PS4 games, according to Sony’s Mark Cerny.
  • Will coronavirus delay the PS5 release? Sony has confirmed the PS5 release date is not currently delayed by coronavirus, and reiterated the fact that the PS5 is still on course for a “Holiday 2020” release in its end of year financial report.

PS5 Reason to buy or not to buy

                                                                   Read full article here

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WhatsApp Business hits 50mn users globally, 15mn in India



New Delhi, July 9 (IANS) With the Covid-19 disruptions bringing more businesses online, WhatsApp Business has reached a new milestone of 50 million monthly users globally with almost a third of them being in India, the Facebook-owned platform said on Thursday.

In India, there are more than 15 million monthly WhatsApp Business app users.

The platform on Thursday also introduced new features to start a chat with a business on WhatsApp like starting a chat with a business using QR codes.

Scanning a QR code will open a chat with an optional pre-populated message created by the business to start the conversation, WhatsApp Business said in a blog post.

With the app’s messaging tools, businesses can quickly send information such as their catalog to get the conversation going.

QR codes are available for businesses around the world using the WhatsApp Business app or WhatsApp Business API starting Thursday, the company said.

WhatsApp Business said that more than 40 million people view a business catalog on the platform each month, while more than three million users in India do so each month.

“To make it easier for people to discover products, we’re making catalogs and individual items available to be shared as links on websites, Facebook, Instagram and elsewhere,” said the blog post.

“If people want to share a catalog or item they find with friends or family, they can simply copy the link and send it on WhatsApp or other places as well,” it added.

Additionally, WhatsApp also launched new “Open for Business” sticker packs to help people and businesses stay connected, say thanks and get business done.

WhatsApp which has over 400 million users in India said these sticker packs will be available to all of its more than two billion users worldwide as well as the 50 million users of the WhatsApp Business app.

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