E-commerce is gaining momentum and has come a long way to become an integral part of our way of life in 2018. So exactly how crucial is e-commerce from the perspective of your business? As we browse through huffingtonpost.in, we have access to certain important reports and statistics from comScore that reveal the fact that the online sales reached $38 billion in 2011’s first quarter which was supposed to be a 12 percent jump from 2010’s first quarter. Moreover, by 2011’s third quarter, sales had already leaped to $48 billion. On Cyber Monday way back in 2011, online shoppers had actually spent $1.25 billion, which was a record-breaking statistic. Annual e-commerce sales were actually expected to reach $278.9 billion. However, e-commerce sales actually, accounted for 9.1% of the total sales in the United States in the third quarter of the year 2018. Even though e-commerce has gained traction over the years, many e-commerce businesses are languishing due to the immense burden of debts.
However, entrepreneurs need to realize the fact that debt is not necessarily evil and that there are numerous ways of utilizing debt to your advantage. But one thing is for sure and that is if you end up accumulating excessive debts, it could become pretty overwhelming. You need to manage all your finances carefully if you wish to seamlessly eliminate your business debts. An e-commerce business owner has several bills and expenses to keep him perpetually stressed such as paying employees’ salaries on time, paying off all bills generated by suppliers, as well as, business partners, other utility bills to let the online business run smoothly without any hitches. Your business debts and bills are primarily your responsibility and you need to tackle them to the best of your ability. You may visit
Nationaldebtrelief.com for professional assistance and perfect debt relief solutions.
Minimizing your e-commerce business and personal debts would help you to stay afloat and you could cut down all previous reckless spending habits to get a grip over the financial situation. However, a smart and instantaneous way of managing your existing debts and keeping them under control is using one of the effective debt management tools or apps. No longer would you require fighting and struggling hard to manage your ever-increasing debts. Now all you need to do is inputting your data relating to the debts into your smartphone and effectively manage them there. Let us explore some of the most popular debt management tools that every e-commerce business owner must consider using.
Debt Book (Android)
Debt book is supposed to be an app just right for both borrowers and also, lenders. It helps you in tracking and updating your debts all in a ‘Master Book’ that would be displaying your precise lend or borrow amount, the exact amount that has been collected or paid and the exact amount that remains to be paid off or collected. This fabulous app provides you with an option of viewing the important data in the form of a statistical chart so that there is a much better visual representation of what your present debt scenario actually looks like. The best thing about Debt Book is that if both you the borrower and your lender are using this app, you could easily communicate with each other and send messages using the app. This is a great way of communicating with each other and staying right on top of all your existing debts.
My Debts (Android)
My Debts is supposed to be an interesting app that would be focusing on financial management and debt organization. The app incorporates an apt visual representation of both expenses and revenues. You could make a side by side comparison that allows you to effectively keep track of all aspects of your present money situation. My Debts is an amazing app that could constantly monitor and keep track of practically all your bills along with your pending debts.
ReadyForZero: Pay Off Debt (Android)
The purpose of ReadyforZero is to meticulously keep track of all your current debts. An extra feature would be helping you in keeping constant track of the credit score. The popular Android app comes up with smart graphs showing how you are progressing in the management of your debts. It would be helping you in focusing diligently on your most urgent debt or target account that needs to be paid off and given top priority. You may chalk out a personalized debt payoff plan for effectively organizing your debts and bringing all your debts under control. The app ensures that you are getting personalized alerts and recommendations depending on your specific debt situation and your unique requirements. ReadyforZero is a brilliant app that sends payments alerts consistently and promptly and it makes sure that you are never missing out any payments. This cutting-edge application is great for ensuring bank-level encryption technology for making sure that your information remains secure and safe since you having the liberty to connect the app directly with your specific bank account and some other applications.
Debt Free Calculator (iOS)
Debt Free Calculator demonstrate all your existing debts, the precise rate amount, the exact payoff amount along with an effective payoff table just right for the purpose of staying on top of debts. Debt Free Calculator provides you with a fantastic debt schedule demonstrating three side by side columns of information regarding your total interest, accurate debt balance, and demonstrating clearly the precise amount already paid back. It is known to have an effective graph of all this important information. It concentrates chiefly on the Snowball Method of paying down your debts, but you may consider opting out and going with an effective strategy of your own.
Debts Monitor on iOS
This is another app that uses the Snowball method. It will always give you the latest status of your debt, let you keep track of every debt-related transactions and send notifications for upcoming due dates. It also comes with Loan, Mortgage, and Debt calculators.
You also get a breakdown for each debt listing the principal, interest, and remaining balance for every individual debt. You can figure out how much interest you will end up paying and also a payoff date when you will be completely debt free. With close tracking and excellent features, this app is a must-have.
Conclusion
These competent debt management apps are having options for everyone. E-commerce business owners must take a close look and determine which would be working best for them. You could customize the apps according to your unique requirements. Do not forget to opt for a regular credit check if you wish to monitor how your effective debt management would be enhancing your credit.
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