Friday, 29 January 2016

5 actors/actresses that are successful entrepreneurs

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Hello readers, I am sure you all are glad today is Friday, time to relax, so today I will be telling you about 5 actors/actresses that are successful entrepreneurs.

Tyra Lynne Banks

She owes a production company called Bankable productions. Today, Tyra is worth $90 million.

Sandra Bullock
She founded a film production company called Fortis Film. She also owns a restaurant as well as a bakery and a florist shop. She is worth $200 million.

Robert De Niro

He owns Tribeca grill in New York. He is also listed as a co-founder of the  Nobu Restaurant. These two restaurants are successful and he is worth $200 million.

Jessica Alba

She started a company "The honest company" with some other individuals in 2012.  The company sells non-toxic household products. Today it is worth $1.7 billion and she is worth $350 million.

Sean John Combs

He is popularly known as P. Diddy. owes a clothing line called Sean John. Today he is worth $735 million.

I feel like eating, I normally do not eat by this time of the night. I will be making an exception tonight Keep checking my blog regularly. Do enjoy the weekend. Cheers!

Thursday, 28 January 2016

Claiming your tax credit (UK)

Hello readers, some individuals are probably not aware that they are entitled to tax credit in the UK. Individuals that are not on a high income can claim tax credit in the UK. There are two types of tax credit which are
1. The Child Tax Credit
2. The Working Tax Credit

-With the Child Tax Credit, you as an individual must be responsible for the welfare of a child  (an individual younger than 16 years)  or a qualifying person (an individual that is older than 16 but younger than 20; the individual must be in school). If you cater to one child, you must be earning below £25,000 per annum, if you have two children, to qualify you must be earning below £35,000 per annum and if you have three children you must be earning below £40,000 per annum

-With the Working Tax Credit, you must either be at least 16 years, have a disability or have at least one child and must be working for a minimum of 16 hours per week, or be older than 24 years and work for a minimum of 30 hours per week or be aged 60 or above and work for a minimum of 16 hours per week. While couples with at least a child must work for 24 hours in total, with one of them working for at least 16 hours a week.

There is no income limit it depends on your situation, however, it most likely you won't qualify for tax credit if your annual income is above £14,000 and you are single with no children. If you are married with no children your annual income should be lower than £19,000 to qualify. Couples with a child must earn below £45,000, with two children must earn below £60,000, with three children must earn below £70,000.

To qualify for any of these tax credits you must be living in the UK. The moment you realise that you might be entitled to tax credits, make a claim immediately because if you are entitled to tax credits for 6 months and you apply for it at the end of the month, you will only get the tax credit for one month, cause it can only be backdated for one month. You will lose the remaining tax credit for the remaining 5 months.

Keep checking my blog regularly, Cheers!

Monday, 25 January 2016

The correlation between determination and financial success

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Okay I just wanted the heading to be catchy. I hope you are good! Yes, you I am talking to you.  The higher your determination the higher the possibility you will become wealthier. There are individuals out there that do not think they can achieve financial success. Maybe they have not had the best of opportunities, its never too late to develop your skills. It is better late than never. I was in the library carrying out a research for you all. When a man started chatting with another man, so I started eavesdropping, lol. They were next to me so I couldn't help but hear their conversation.

The man was narrating his story, he said he left his country for abroad. He was a manager at a company in his country before he travelled.  When he arrived he started to do an odd job, that was the job the person he knew in the country was doing, as such that was what he introduced him to. He said everyday he was sad cause he left his mangerial job for the odd job. But then one day he said to himself I can do better than this, he did a course to improve his skills and eventually got a good job. The person that introduced him to that odd job after 20 years is still doing the same job. 

Define your goals, do not let anyone make you think you are proud because you believe you can go after some jobs and not do some jobs cause my dears that is a myopic way of thinking. It does not mean you are proud it means you believe in yourself. 

I have great determination and that pushes me to keep going. I can remember a day my cousin and I were looking for a place, we walked and walked, lol and we couldn't still find the place. My cousin kept on saying we should give up but I did not give in. We finally went our seperate ways he started his journey back to his place and I kept on looking for the place and wolla I found it, then I called my cousin to come meet me at the place. See, determination and success.

Do not be discouraged by little bumps or pot-holes just keep going. If you stop pursuing your goals you won't achieve it. Thus, if you won't give up on yourself, you can achieve your financial goals. I hope you all executed the task for this month. The task for next month is coming up, so keep checking my blog regularly. I now have a youtube channel, yay! I just wanted to do something for people that prefer listening or watching to actually reading. You know I care about you all. I am definately going to develop the channel. Do subscribe to the Youtube channel

Do enjoy the rest of the week. Cheers!

Thursday, 21 January 2016

How to prevent fraud in business: An Auditor's perspective

Hello readers, so today I decided to write the 3rd part of this article. I will advise you to read part 1 and part 2 before reading this one and yes there is still going to be another part, the last part. There are 3 main qualities associated with fraud which include 
1. The reason why the individual/group wants to commit the fraud.
2. The loop-holes in the system of the business that could make the individual/group to justify their fraudulent act.
3. The ability of the individual/group to justify their fraudulent act.

When internal auditors do a good job it can be very useful at preventing, detecting and mitigating fraud. Prevention and detection are two different actions that can be used to deal with fraud. In order to prevent fraud, thus limit the exposure of the company to fraud, the owner/owners must set the right tone, thus they must deal with fraudulent activites in a strict manner 

An effective and efficient internal control will prevent potential fraudsters from getting tempted, controls can range from screening customers to suppliers and other entities they have business with. Employees must also be trained on how to identify fraudulent activities and an anonymous way of passing the information to the owner/owners of the company must be made known. Employee must also be enlightened about the strict consequences of any fraudulent activity in order to discourage potential fraudsters.

The method through which fraud can be detected must be flexible and reviewed regularly. Fraud can be detected via whistleblowing, thus employees should be encouraged to do so. Employees that have resigned should be interviewed so it can enhance the way fraud can be detected, some auditors will say fraudsters that have been caught and sacked should be interviewed so they can help identify other loopholes so that other possible fraud can be detected. Well, that sounds unrealistic because I do not believe a person that has been sacked will be willing to honour any interview except there is a catch or the person has repented.

The last part will be out soon. Keep checking my blog regularly. Cheers!

Tuesday, 19 January 2016

Two Schools of thought (Business Ethics)

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In a previous article, I gave you a scenario and I told you to ponder on it. Today, I decided to write about it. I told you about a 6 year old boy that was going to make breakfast for his Dad on his birthday. While he was trying to toast bread, he spoilt the toaster he had just purchased for $200. Now a school of thought will say the boy should be scolded since he spoilt the toaster, that he should not have touched the toaster. Another school of thought will say his intention was pure so he should not be scolded but thanked for his effort, however should be told in a very nice manner to seek adult supervision in future.

Well, I agree with the latter. The boy should be thanked, that way you encourage him to keep doing good. He wanted to put a smile on his fathers face. As such, he should be appreciated for it.

P.S Parents do not tell your children they are asking you a stupid question, no question is stupid. If they do not know let them ask and that goes for adults too, if you do not know ask. I overheard a father telling his daughter she just asked a stupid question and he was scolding her for it. Well, I started singing no question is stupid,lol!, I am thinking she will be like 5 years old or so. You undermine a child when you tell them they asking a stupid question, their emotional state forms between the ages of 0 to 7. You need to nuture their confidence at that age.

Keep checking my blog regularly. Cheers!

Thursday, 14 January 2016

Best holiday packages for this summer UK

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Hello readers, the earlier you book for your holiday the better. I have some nice deals for you. Remember cut your clothes according to your size.

Aqua Fantasy Aquapark Hotel &  Spa in Kusadasi, Izmir Area

This deal is available via It is a trip from Manchester to Kusadasi, Izmir Area. It costs £374 per person all inclusive for 7 nights. I told you to start saving (halal) like 6 months before you book for it. It covers your return flight ticket, coach transfer, 1 bedroom (family room) with a view of the garden.

Ibiza Beach Europe

This is another nice deal, it will save you 40% of the usual price. It costs £349 per person for 7 nights. It has a waterfront restaurant as well as nice  beaches. This will include your flight from London. It could be the Gatwick or Luton or the Stansted airport. They will also be travelling from Bristol, Dublin, East Midlands, Liverpool or Manchester. You will get free breakfast and dinner daily. You will be lodging at Iberostar Santa Eulalia Hotel in a double sea view room. It is located in Spain. It is available via

Marriot Al Jadaff

This is another beautiful deal. The hotel, Marriot Al Jadaff which is located in Dubai has both Italian and American restaurants. It has a market place where international cuisines are available for sale. It has an outdoor pool, a luxury spa and a fully equipped gym. It costs £459 for 5 nights on friday the 3rd of June, 2016. Return flight ticket, accomodation and breakfast are inclusive in price. It is a 5 star hotel. It is available via

Preluna Hotel & Spa

This hotel is located on the northeast coast of Malta. It has different restaurants and bars. It has a spa, a wellness centre that has a Jacuzzi. A swimming pool is available both indoor and outdoor. It is located next to a sea which view is beautiful. There is also a skyroom penthouse lounge balcony. It costs £392 per person for 7 nights in June. It is available via Cost of flights and accommodation are all inclusive.

Please, only book for this deal if your bank account is smiling. There are cheaper deals. Keep checking my blog regularly, Cheers!

Tuesday, 12 January 2016

A message for yahoo boys

I watched a video on facebook, apparently I could not watch it to the end cause I was irritated. The woman was telling the police in her country to stop going after their boys for doing yahoo yahoo. To justify the arguments she said it prevents them from stealing from their community. Stealing is wrong whether it is from your community or other communities. So what? They do not have a job so the next thing is to deceive people into giving them money. That brain can be used for better things. It can be used to invent products, thus creating a business, thus creating employment opportunities and thus contributing to the development of your nation. 

Secondly, all this people that go about scammimg other people you create a bad impression about your country and thus discourage potential investors that can contribute to development of your nation from investing in your country. That job issue she was talking about can also be addressed when more investors are attracted to the country. She said they stole some resources from them and they are just taking what they took from them. My dear, the people that took advantage of your country left this world several decades ago. Move on already, let by-gones be by-gones. The people you are going about scamming are people that had nothing to do with what happened to your country in the past, as such you are scamming innocent people.

Lastly, some individuals will go about complaining when something very challenging happens to them. "And whatever of misfortune befalls you, it is because of what your hands have earne. And He pardons much" (al-Shoora 42:30)"  Ask those scammers that you are busy defending, they always get punished for their actions. 

Keep checking my blog regularly. Cheers!

Monday, 11 January 2016

Dealing with foreign exchange risk: Part 2

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Hello readers, today I decided to write about the foreign exchange risk. I dealt with the economic risk associated with foreign exchange in a previous article. I will be dealing with the transaction risk partly today. So Yes, there will be part 3. I will be writing about 3 ways the transaction risk associated with foreign exchange can be mitigated

Leading and Lagging

It will be to the advantage of a business to convert its currency to the one that will be needed if they believe that the currency needed will appreciate against its own currency. That way when the currency appreciates you gain some money. However, there is still a risk that the currency might actually fall. When this action is carried out it is called leading. Lagging on the other hand is for you to wait to the last minute before you exchange the currency if you believe that the needed currency will fall when compared with yours.


This can be used if you have a lot of foreign transactions. That is you buy and sell to the another country. To mitigate the risk while using this method, you use one transaction to cancel the other. For example a South Korean company owes you ₩10,000, however, another South Korean company owes your South Korean subsidiary ₩12,000. Then the ₩12,000 can be used to pay the ₩10,000 owed and the remaining ₩2,000 will be kept. If there are several months between each transactions then it won't be possible to use such method.


This is similar to netting except in this situation you will be using the money from a third party and for your subsidiary to pay of the debt. With this method, you open an account with the foreign currency you will be dealing with. Thus, if you receive £1,000 from one customer and in few days you are to pay another customer £900. Then deposit the £1,000 you have received and pay the customer you owe £900 from it.

So I mentioned earlier that there will be part 3, so do check out for it. Keep checking my blog regularly. Cheers!

Thursday, 7 January 2016

4 Industries to invest in (Indonesia)

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Hello readers, Indonesia is a beautiful city to invest in, with an average GDP annual growth rate of 5.37% from 2000 to 2015. It is ranked 16th in the world on the list of countries by GDP (nominal). Here are the industries to invest in.

Manufacturing Industry
This industry is one of the most important in the industrial sector. The industrial sector contributes mostly to the annual GDP growth rate. The PMI increased from 46.9 in November, 2015 to 47.8 in December.

Mining Industry
This is another industry you should invest in. It also contributes immensely to the annual GDP growth rate of the economy.

Leisure Industry
The leisure industry is also a good one for investment. Thus, you should consider investing in the country. Due to the wealth rise in Indonesia, the purchasing power of customers have increased and they are willing to pay for leisure.

Technological Industry
This industry is booming and it is a good one for investing. It is one of the top five markets in the world for mobile subscribers and others. Thus, you should invest in the economy.

Keep checking my blog regularly. Cheers!

Wednesday, 6 January 2016

Do not read just anything

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I enjoy reading educative articles but I do not open articles that have negative headings. Be careful as to what information you allow into your system. Only articles that promote positivity should be read. It is not everything that you read on the internet that you should swallow in. Some individuals share ridiculous text on facebook. Some individuals put out negative information online, just because someone had typed that ridiculous information does not make it positive. 

I once saw one text on facebook "when people try to stop my bad habit they are just mad because I am fun". What a ridiculous text. No you are not fun, you are crazy, lol. Develop the growth mindset, negative information will not encourage the growth mindset. With this mindset, you will be able to achieve your financial goals. Individuals that have developed the growth mindset believes you are either part of the problem or you are part of the solution and they choose to be part of the solution.

Keep checking my blog regularly, cheers!

Tuesday, 5 January 2016

Dealing with foreign exchange risk; Part1

Hello readers, so 2016 is finally here. I am still excited much, are you still excited? I am sure you have made plans for the year, make sure you adhere to them. Today, I decided to talk about how to minimize the exchange rate risk. I know some of you are into importing and exporting, thus you will be exposed to the risk. When foreign transactions are being carried out by an entity or an individual there is always a probability that the foreign currency that you might be receiving might fall in value when compared to the currency of the country where your business is domiciled. Thus, you end up receiving a lower amount than you expected. 

A way this risk can be mitigated is to trade in only one currency which is the currency of the country in which your business is domiciled. U.S.A only receives and pays out dollar that way they put the conversion risk on the party they are dealing with. You can adopt this method too, thus, you pass the exchange rate risk to the other party.

Another way this risk can be mitigated is to make the goods you are selling in the country you want to sell them (if your business is big). Thus, any business dealing that has to do with the country should be dealt with in that country. I have dealt with the economic risk associated with foreign currencies in this article. Part 2 of this article will deal with transaction risk. It will be provided next week.

Keep checking my blog regularly. Cheers!