PayPant- The Financial Backyard

Receiving a bank deposit is one of the best feelings in the world. But this excitement can easily be cut short when you realize that the deposit is pending. What is a pending deposit? If a deposit is pending can I use the money? Well, no! You cannot use the money until it is cleared and available on your bank balance. If you have a lot of questions concerning pending deposits, this article provides you with answers. It explains pending deposits and covers how to cancel a pending transaction. What Does It Mean If A Deposit Is Pending? If you check your bank balance and see a pending deposit, it means that your bank acknowledges that a transfer of money was made to your account. However, this transfer is in process and under verification from your bank. Once it is verified as "valid" by your bank or a financial institution, it'll be available to you for use. Each time a deposit is made into your account, it goes through a process of verification. If the process of verifica...

Cultivating good money habits is one of the first and crucial steps to financial stability. It can turn your finances around and put you on a path to a better future. If you're ignorant of what good money habits to develop, this article highlights 22 of them. It also provides guidelines on how to cultivate a good money habit. 22 Good Money Habits To Turn Your Finances Around 1. Good Credit Score If you're addicted to the use of credit cards, you can turn things around to your benefit by always paying your bills and credits on time. Doing this gives you access to lower interest rates, better insurance rates, higher credit limits, and better rental options. Hence, keeping a good credit score is one of the good money habits to develop. Here are some ways to maintain and boost your credit score: - Pay off loans before due dates - Do not max out your credit limits - Conduct fact-checks on credit reports - Have a long credit history 2. Savings Plan Develop...

Most financial experts advise that borrowing money to start a business is a bad idea. If you're wondering why this is, this article explains. Launching a new business requires tons of planning. Additionally, you must be confident in the business's ability to generate profits. But regardless of your confidence in the business, taking a startup loan is often advised against. Here are twelve reasons why borrowing money to start a business is a bad idea. This article also provides a guide on how to get a startup loan. 12 Reasons Why Borrowing Money To Start A Business Is A BAD Idea 1. Strict Eligibility Requirements Business loans are not like your typical personal loan. The requirements for qualification are different. Anyone can take out a personal loan within minutes or hours. However, a startup or business loan requires days and weeks for approval. To get approved for a business, here are some of the requirements: A. You must have a detailed business plan. If you...

What's stopping you from starting a side hustle? High startup costs? If so, here are eighteen side hustles with low start-up costs. For most of them, you'll need less than $100. Going on a vacation or buying that dream house or car won't be possible until you have something to boost your income. And if you're waiting to save a huge amount before starting up something, you'll miss out on a lot. To help you out, here are eighteen businesses you can start. They require a low start-up cost but come with good returns. 18 Side Hustles With Low Startup Costs   Sell Digital Products Selling digital products is a very lucrative side hustle to start. It has no inventory costs and when you create a product once, you can sell it repeatedly, which leads to a high profit margin. A digital product can include an online course, eBooks, fonts, documents, apps, illustrations, photography, and any digital format goods. Once you create a product, you can sell it on platforms like Etsy...

"How much should I budget for food?" This is a question most people who plan to stay alone or start a family ask. If you want an answer to it, take your time and read on. There is no generally known stipulated amount to budget for food. It all depends on your income and preference. But if you're confused, and need a guide on the amount to budget or spend on food, this article will help you reach a conclusion. Here's a guide on how much to spend on food and groceries. How Much Should I Budget For Food Factors such as where you live, the costs of food items in your area, your food preference, income, and the number of people you feed determine how much you should budget for food. However, there are theories and rules that help you decide on the exact amount. Here are a few of them. The USDA Food Plan Theory The U.S. Department of Agriculture (USDA) releases a monthly food budget plan to help you estimate how much to spend on food. This plan is divided into four - a thr...

If you're wallowing in debts with no hope in sight, it's normal to entertain the thoughts of selling your car or other type of asset to pay off debt. But the question is, "Is it a good financial decision to sell my car to pay off debt". The answer to this question differs from person to person. This article analyzes your financial situation (every possible financial situation) and provides a "Yes or No" answer. So if you're struggling to make a decision, read on. Should I Sell My Car To Pay Off Debt? Selling your car to pay off debts is a good decision to make if the cash obtained from selling the car is more beneficial than keeping the car. However, before you make the big decision to sell or not to sell your car, there are certain questions you have to answer. Questions To Ask Before Selling Your Car Your answer to the below questions can help you make the right decision on whether to sell your car. 1. How Much Is Your Car Worth? This isn...

You cannot build wealth and achieve your financial goals if you keep wasting money on food, clothes, and travel. Although these expenses are inevitable, there are still ways you can cut down on them in order to leave more room for savings and investment. The expenses you make on groceries, subscriptions, transportation, food, and more may seem insignificant, but when added up, they cost a lot. To help you prevent wasteful spending, this article goes into detail on how to save money. It provides a breakdown of how to stop wasting money on food, clothes, travel, cars, subscriptions, utilities, gym membership, transportation, and more. General Tips On How To Stop Spending Money 1. Create a Budget To avoid spending unnecessarily, make a budget. There are different types of budgeting plans, some of which include zero-based budgeting, 50/30/20 plan, envelope method, no-budget plan, and reverse budgeting plan. - Zero-based Budgeting Plan : This is when you assign a purpose, task, or plan to e...