Frugaling

Save more, live well, give generously

  • Home
  • Start Here
  • Popular
    • Archives
  • Recommended
  • Contact
  • Save Money
    • Lifestyle Downgrade
    • Save Money with Mindfulness
    • Save at Starbucks
    • Psychological Trick To Reduce Your Online Shopping
    • Best Freebies
  • Minimalism
    • 8 TED Talks To Become A Minimalist
    • We Rent This Life
    • Everything Must Go
    • Lifestyle Downgrade
    • The Purchase Paradox: Wanting, Until You Own It
    • Nothing In My Pockets
  • Social Justice
    • Destroy The 40-Hour Workweek
    • Too Poor To Protest: Income Inequality
    • The New Rich: How $250k A Year Became Middle Class
    • Hunter Gatherers vs. 21st Century Desk-sitters
  • Make Money
    • Make $10k in 10 Months
    • Monetize Your Blog
    • Side Hustle for Serious Cash
  • Loans
    • 5 Rules To Follow Before Accepting Student Loans
    • Would You Marry Me?
    • Should I Have a Credit Card If I’m In Debt?
    • $50k in Scholarships in 70 Minutes

Archives for January 2021

How To Find A Reliable Service Provider For Currency Exchange

By Frugaling Leave a Comment

Share This:

When I started my life as a digital nomad, I did not realize I would be staying in one place for so long! Nevertheless, I got a good amount of traveling in before the world shut down, all the while building an international business.

If that sounds more grand than a freelance career should, that may just mean you’re not thinking globally. The concept of a digital nomad is not just someone who works remotely from wherever in the world they want to. Rather, it is someone whose business opportunities are not limited by location. You can be a digital nomad simply sitting at home, doing jobs in different states, countries, and continents.

One of the challenges I quickly discovered was how expensive it was to get paid. Getting paid locally is naturally very easy and affordable. However, when you are getting paid in other currencies, you have to pay transfer fees while settling for an exchange rate that is always weighted in the bank’s favor.

Fortunately, because so many people around the world are now getting paid in foreign currencies, savvy entrepreneurs have founded money transfer companies that serve people just like them.

To help you find the currency transfer company that best suits you, let’s take a look at exactly why currency transfer is so expensive and what you should seek in a money transfer company.

Why is foreign exchange expensive through banks?

It is well-established that banks are dinosaurs in the financial sector. They have been around for centuries, and have little incentive to change the way they operate. They are so enmeshed with their country’s economy that it is in everyone’s interests that they succeed.

It’s no surprise then that their foreign exchange offerings tend to be no different than they were twenty years ago when currency exchange was far less common. Banks charge relatively high fees on currency transfers, often charging you multiple times. They may charge the sender and the recipient, a fixed fee and a percentage of the sum, and hidden fees in an unfavorable exchange rate.

Anyone who has received a foreign payment through their bank knows just how much was skimmed off the value they expected to receive. And since banks are not offering good modern solutions, it is best to look elsewhere for foreign exchange products.

What do currency transfer providers offer?

Modern currency exchange companies offer low, transparent fees along with quick and seamless transfers. One of the biggest in the world, WorldFirst, based on this review, only charges a tiny percentage off the interbank exchange rate. Without any other fees, you still get a better exchange rate than you would from the bank.

Money transfer providers also offer a whole range of products for people who want to be a little more savvy with their earnings. When dealing with foreign currency, you have the opportunity to use exchange rates to increase your income. Transfer providers may offer hedging and futures options that help you do just that.

Find the best currency transfer provider in the US

While WorldFirst is one of the foremost transfer providers in the world, it is available everywhere but the US. The same is true of a number of other of the big currency exchange providers. US banking is particularly behind many other countries, and because different states have different regulations, even those companies that serve the US may not serve every state.

So, how do you go about finding the best currency transfer provider in the US?

There are a number of good options available in the US, such as Currencies Direct and MoneyCorp. Your first priority when comparing these companies should be cost. Look for the fees they charge – are they fixed or a percentage of the sum? Do they promise no hidden fees in the exchange rate? Your income will be seriously impacted by these charges.

Next you should take a look at how practical they are for your purposes. Find out how long a transfer takes. The last thing you want is cash flow issues when you need to pay the bills.

Furthermore, check what their minimum transfer is. As a freelancer, my rates can fluctuate wildly, especially when crisis hits (as it has multiple times over the past year). A company that requires a minimum $1,000 transfer may be perfect for me on a regular month, but when times are particularly tough, I still need to be able to transfer the few hundred dollars I have earned.

Only once you have seen to the basics should you start looking at added features like hedging and futures. Ultimately, you can make good money through savvy currency exchange, but that should never come at the expense of your daily needs.

Is it worth it to be a digital nomad?

This might seem like a lot of work just to get paid. Is it really worth it to find work around the world rather than sticking to the US?

The simple answer is: yes. Aside from the benefits of working remotely, you expand your options tremendously. There is always business available somewhere, even in the worst of times.

With money transfer companies it is not all that difficult in any case. Once you have found the right one for you and are used to the functionality and features, you will get into a rhythm quickly, with your full earnings in your bank account when you need it.

Filed Under: Money

First-Time Landlord: Know Your Rights to Protect Yourself from Bad Tenants

By Frugaling Leave a Comment

Share This:

Knowing your rights is one of the things which can never be too overemphasized. It not only protects you but also guides you in your conduct with people, tenants and co property owners generally. The knowledge of your rights in the real estate world saves you money, stress and even time in the long run as you are able to avoid unnecessary troubles.

Here are some tips you really need to know to protect yourself and your real estate business.

Understand the local laws

Make sure you understand the landlord laws in your area as there are going to be certain things that you must do when you become a landlord, so you aren’t breaching a tenant’s rights. Know what is expected from you and your tenant and strive to meet up with that.

Write everything down

In the beginning, it may seem like you do need all the formalities of a paper, but I can assure you that you will need it. Get as much paperwork as needed and ensure that you and your tenant sign the tenancy agreement. List out every little terms and condition you have both agreed on and go over them again. Are pets allowed? Do you take care of all damages? Can they use all facilities? These are some of the questions you should answer.

Buy a good insurance cover

When you have tenants, your building can now be regarded as a business. Treat it as such. Get good insurance that will help you cover liability when required. You can never be too sure what will come later. With good protection, you secure your business.

Do your research

As much as you can, ensure you research your tenant. Request for a reference and do a tenant reference check. Do not ignore the red flags, as you might have to deal with it later. Check for the credit ard scores, bankruptcy and other necessities.

Communicate clearly with your tenant

Do not leave anything unsaid to your tenants and treat issues immediately. To avoid future arguments and bad blood, reach out to talk things out and clear the air before it escalates. A good lawyer or a letting agent can serve as a liaison to further manage things between yourself and your tenant.

Becoming someone’s landlord for the first time might seem daunting; however, with the right research and proper practices in place, you will soon find yourself getting into the swing of things easily. Take the time to communicate with your tenants and letting agents for maximum success.

Filed Under: Money

Follow

  • Facebook
  • Google+
  • Pinterest
  • RSS
  • Twitter

Subscribe

Best Of

  • Was Albert Einstein A Minimalist?
    Was Albert Einstein A Minimalist?
  • 5 Tricks To Save Money At Starbucks (Updated)
    5 Tricks To Save Money At Starbucks (Updated)
  • I have $37,718.68 in debt. Would you marry me?
    I have $37,718.68 in debt. Would you marry me?
  • The New Rich: How $250k A Year Became Middle Class
    The New Rich: How $250k A Year Became Middle Class
  • Do I Regret Deleting My Facebook?
    Do I Regret Deleting My Facebook?
  • My Low-Income Lifestyle
    My Low-Income Lifestyle

Recent Posts

  • How to Eat Healthy on a Budget
  • How To Live Stream Your Art
  • 5 Fun Summer Activities on a Budget
  • How to Pay Off Medical Debt
  • 5 Ways to Save Money Before a New Baby

Search

Archives

  • June 2023 (1)
  • May 2023 (2)
  • January 2023 (1)
  • March 2022 (3)
  • February 2022 (2)
  • November 2021 (1)
  • October 2021 (2)
  • August 2021 (4)
  • July 2021 (5)
  • June 2021 (3)
  • May 2021 (2)
  • January 2021 (2)
  • December 2020 (2)
  • October 2020 (2)
  • September 2020 (1)
  • August 2020 (3)
  • June 2020 (1)
  • May 2020 (2)
  • April 2020 (1)
  • February 2020 (2)
  • January 2020 (1)
  • December 2019 (1)
  • November 2019 (5)
  • September 2019 (4)
  • August 2019 (1)
  • June 2019 (1)
  • May 2019 (1)
  • April 2019 (1)
  • March 2019 (3)
  • February 2019 (1)
  • January 2019 (3)
  • December 2018 (1)
  • September 2018 (2)
  • July 2018 (1)
  • June 2018 (2)
  • May 2018 (1)
  • April 2018 (5)
  • March 2018 (6)
  • February 2018 (4)
  • January 2018 (1)
  • December 2017 (10)
  • November 2017 (3)
  • July 2017 (2)
  • June 2017 (5)
  • May 2017 (2)
  • April 2017 (8)
  • March 2017 (4)
  • February 2017 (3)
  • January 2017 (2)
  • December 2016 (2)
  • November 2016 (4)
  • October 2016 (2)
  • September 2016 (1)
  • August 2016 (4)
  • July 2016 (1)
  • June 2016 (3)
  • May 2016 (3)
  • April 2016 (4)
  • March 2016 (5)
  • February 2016 (2)
  • January 2016 (2)
  • December 2015 (3)
  • November 2015 (5)
  • October 2015 (5)
  • September 2015 (4)
  • August 2015 (6)
  • July 2015 (8)
  • June 2015 (6)
  • May 2015 (14)
  • April 2015 (14)
  • March 2015 (13)
  • February 2015 (12)
  • January 2015 (15)
  • December 2014 (10)
  • November 2014 (5)
  • October 2014 (6)
  • September 2014 (7)
  • August 2014 (12)
  • July 2014 (11)
  • June 2014 (12)
  • May 2014 (16)
  • April 2014 (13)
  • March 2014 (13)
  • February 2014 (9)
  • January 2014 (20)
  • December 2013 (9)
  • November 2013 (18)
  • October 2013 (15)
  • September 2013 (11)
  • August 2013 (11)
  • July 2013 (27)
  • June 2013 (18)
  • May 2013 (16)

Best Of

  • Was Albert Einstein A Minimalist?
  • 5 Tricks To Save Money At Starbucks (Updated)
  • I have $37,718.68 in debt. Would you marry me?

Recent Posts

  • How to Eat Healthy on a Budget
  • How To Live Stream Your Art
  • 5 Fun Summer Activities on a Budget

Follow

  • Facebook
  • Google+
  • RSS
  • Twitter

Copyright © 2025 · Modern Studio Pro Theme on Genesis Framework · WordPress · Log in