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Exchange Rates in the Forex Market

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International exchange rates display how much one currency can be exchange for another. These exchange rates can be floating, where their value can fluctuate depending on a variety of factors. They can also be pegged or fixed to another currency, where they move alongside the currency on which they are pegged.

Floating vs. Fixed Exchange Rates

One can determine the currency prices in two ways: floating rate or a fixed rate.

A Floating Rate

A floating rate is determined by the open market through supply and demand via the global currency markets. Thus, if the demand for the currency is high, its value will increase. And if the demand is low, this will drive the currency price lower.

Several technical and fundamental factors will play into what the markets perceive is the fair exchange rate and alter their supply and demand accordingly.

A Fixed Rate

Meanwhile, a fixed or pegged currency rate is determined by the government through the central bank. The rate is set against another major world currency, like the US dollar, the euro, or yen.

To maintain the exchange rate, the government will buy and sell its own currency against the currency to which it has been pegged. Among the countries that peg their currencies to the greenback are the US dollar and Saudi Arabia.

Factors that Affect Exchange Rates

As we have mentioned, floating rates are determined by the forces of supply and demand. For instance, if the demand for the US dollar by the Europeans go high, the supply and demand relationship will show an increase in the price of the US dollar relative to the euro.

There are also numerous geopolitical and economic announcements that influence the exchange rates between two nations. A few of those include the interest rate changes, unemployment rate, inflation data, gross domestic products, manufacturing report, and commodities.

The short-term moves in a floating currency exchange rate regime reflect the rumors, speculations, disasters, and daily supply and demand dynamics for the currency.

Extreme short-term moves can compel the country’s central bank to intervene even in a floating environment. As such, although major global currencies are considered to be floating, central banks and governments may step in if the country’s currency becomes too high or too low.

A currency that is too high or too low could influence the nation’s economy adversely. It would also affect trade and the ability to pay debts. The government or central bank will also attempt to implement measures to move their currency to a better price.

Macroeconomic Factors

More macroeconomic factors impact exchange rates. According to the law of one price, the price of a good in one country should be equal to its price in another. This is called the purchasing price parity, or PPP.

If the price gets out of range, the interest rates in a country will also move. Of course, what happens in the real world doesn’t always follow economic theories because of various interfering factors.

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Best HMS Victory Model – 5 Best Options

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Best HMS Victory Model

HMS victory is the name of Nelson’s Flagship. He was killed in this flagship at Trafalgar. The battle of Trafalgar is amongst the famous battles in history. It was fought between English and French-Spanish fleets a few miles south-east of Cadizon on 21st October 1805.

This ship is one of the few ships that reached us in a perfectly preserved state. It began in 1759 and was launched in 1765. During this time, the ship was subjected to various rebuildings before arriving at Trafalgar. This beautiful ship model is based on the original British plans.

5 Best HMS Victory Models

Here in this article, we have listed some of the most popular and quality HMS victory model kits. So, continue reading this article until the end to explore some of the best HMS victory models.

1.   De Agostini HMS Victory Model Kit

This exquisite model contains almost all the features of an original ship. HMS victory will send you all the parts you need to model this iconic ship, including; sails, flags, crew members, and armament. In addition to that, the packing also contains a booklet highlighting a detailed stepwise procedure to build your model. The booklet explains all the modeling techniques described through taken photographs.

Even if you are new to the art of marine modeling, these straightforward instructions will help ease your task and will make it possible for you to create a replica that does justice to Nelson’s flagship. 

Key Features

  • Some of the notable features of this product are listed below.
  • Hardwood planking over hardwood ribs
  • Detailed representation of all ropes and spars
  • A couple of cupids that support the royal coat surmounted with the royal crown.
  • A figurehead containing the inscription
  • Optional Visible interior using which you can build a complete hull 

2.   Revell HMS Victory Scale Model (1/225)

Revell is known for offering high-quality kits characterized by faithful representations featuring all essential details and premium quality workmanship. In addition to that, the descriptions also provide meaningful information on the historical significance of the original. Technology enthusiasts will find the models of their interest at Revell.

Revell’s similar product is the victory scale model (1/225) is their beautifully detailed and bridge. Its detailed hull replicates the original cravings along the sides, stern, and bow of the ship. In addition to that, the 1: 225 scale model includes mounted guns, railing, and ladders, lanterns, lifeboats, four anchors, detailed masts with mastheads.

3.   Revell of Germany HMS Victory Kit

Revell is known for making models for all ages. Uncomplicated kits are the prime choice for pre-school age boys. Junior Kits have been specifically designed to cater to the needs of children. 

Using this model, kids can get their first experiences in model making and improve their fine motor skills. These creative activities also strengthen the self-confidence of little boys.  

The kit features single-piece masts, structured deck, sails, cannons, full decals, and lifeboats. The ship is comfortable to put together and can be taken apart if needed. It is robust and can withstand collisions.

4.   Heller HMS Victory Kit

The Heller model is the HMS three-decker-vessel that was involved in the Trafalgar battle. It is the Royal Navy’s fifth vessel of the same name. This kit comes with 2300 parts, one decal sheet, flags, two spools of thread, and an instruction manual. It is a 1/100 scale kit.

5.   Airfix Vintage Classics HMS Victory Model Boat Kit

This classic plastic model will give you nostalgic models. The box features original paintings by an impressive range of artists. Airfix has produced plenty of traditional models since the 1950s. Many of these models are quite challenging for today’s modelers; however, that’s a different part of this brilliant hobby’s fun.

With plenty of “only produced by Airfix” models to come, the excitement is building. While buying this kit, you will have to buy the paint separately.

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4 Accounting Tips For Startups

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As a startup, managing money is highly important to the success of your company. Any type of business venture requires a smart focus on its financial health, but especially a startup where you need every last cent to help your idea succeed.

Perhaps your focus is more on the details of how to make your startup work in terms of managing your team and less on accounting. These four tips will help you succeed in the area of money as well.

1.   Streamline your bookkeeping

Let’s face it, gone are the days of paper bookkeeping. For one, it’s a waste of paper and not good for the environment, and two, it’s an outdated and time-consuming way to keep track of your company’s finances. Even a spreadsheet on your computer is something better left in the past. Instead, consider using small business accounting software that provides you with an easy-to-manage format to keep track of your money. You can also easily access current financial data with this software, making it a much better and more accurate way to take care of your money. These easy-to-update sites and apps make bookkeeping so much easier than in times past, and when it comes to your startup’s accounting, it’s worth it.

  1. Save and build up your cash reserve

Rainy days happen, as 2020 taught us. For a company to succeed through the hard times, it’s a wise idea to save up a cash reserve. Professionals will often suggest a few months’ worth of expenses saved up so you can continue to operate should unexpected circumstances occur. It’s wise to think of the longevity of your startup and putting away some money can help you think ahead. In 2020, when businesses were forced to close and shut down because of social-distancing and shelter-in-place orders, many companies ended up shutting their doors for good because they didn’t have this cash reserve. Take notes from the year Coronavirus showed up and play it safe.

3.   Hire a professional

Running a company, fulfilling your tasks, and making sure to increase profit as a small business can be challenging. Add accounting into the mix and you can find yourself overwhelmed and unable to successfully manage your team and company. Instead, consider how hiring an accounting manager or even working with a local firm can help you streamline things in the company. This way, they stay on top of the money while you stay on top of making sure the business succeeds. Of course, take your time to make sure you’re hiring someone who is going to handle the money well and who has the expertise to manage your money effectively, so you can save and avoid any financial downfalls.

4.   Stay true to your budget

As a startup, you will want to be careful with how you spend your money. Your first step is to create a budget. How much do you need to pay your team? What does your office rental cost? Do you have coworking events to keep spirits high? These events should go in your budget as well. Factor in everything from office supplies to even your own salary, and once the budget is created, make sure that the company sticks to it. While every budget should have some wiggle room, you don’t want those extra expenses to be too high. Save money for any financial emergencies that could come up in the future—as mentioned in tip #2.

The Bottom Line

You know the saying, “Money makes the world go round,” and when it comes to startups, it couldn’t be more true. To ensure your success, you’re going to want to be more careful with how money is spent than almost any other factor. When you expertly plan for solid financial health, you’ll sleep easier, knowing your company and it’s money are going exactly where you want them to.

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4 Ways To Take Control Of Your Finances

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For many of us, 2020 was difficult in terms of finances. Whether you lost your job or lost some gig work that resulted in a lower monthly income, you may be hoping for a better outcome in 2021. While there may be some external factors that have impacted your financial life, there are a few ways that you can take control of your finances in the new year.

To make this year a financially abundant one, consider these following tips that can have you back in the game in no time.

1.   Have you considered working with a professional?

It could be that 2020 reminded you to be more prepared for the unexpected. Perhaps, you want to start thinking about your future or that of your family or pet. Preparing for the future can be a very important way to stay in control of your finances. It’s easy to spend when you have the money.

When you work with a financial professional to invest or set aside savings for the future or a specific fund, you can be confident you’re making a wise decision that your future self will thank you for. From their expertise to financial advisor software and insider knowledge, a financial professional can help you put your money somewhere safe for rainy days.

2.   Have you set goals?

Do you have a lot that you want to achieve but these goals require money? It could be a vacation in the Maldives or perhaps you want to invest in a home. Whatever the end-goal may be, having it in your sights can help you to control your finances better. It helps to remember these goals every time you want to spend your money on things or experiences you don’t really need or may not even be interested in. Take time to map out how you’re going to reach these specific goals and keep them in mind.

3.   Do you have a budget?

One of the most important ways to control your income and finances is to make a budget. When you don’t have a clear idea of how much you make on a monthly basis and what your major expenses are, it can be easy to spend, spend, and spend. Before you know it, you find yourself lacking when it’s time to pay the big bills.

Make a budget. Include the set bills you have to pay every month and the basic necessities you need. If you have money left over, allow some “wiggle money” for entertainment and fun, but then commit to not spending over that amount. If that means cutting back on eating out or going out on the town, it could be a worthwhile investment in order to reach the goals you have set.

4.   Where do you “throw-away” money?

Along the same lines of budgeting your money, consider where you spend money that you don’t need to. We don’t often think about where all our money goes, but before we know it, our bank account is looking a little low.

Do you often stop at gas stations or pharmacies to pick up last-minute items you need? These stores are often considerably more expensive than your local grocery store. What about new clothes that you won’t actually wear or don’t need? It may be difficult but being honest with yourself about where you spend money and where you can cut back can be highly beneficial to your future and to living a more financially stable life.

Final Thoughts

If you want this year to be a great year in terms of finances, it could be time for you to take the reins and control where you spend your money and how you can make it grow. Whether you work with a financial professional to invest your money or you simply take stock of your budget and goals, making financial moves can be highly beneficial for this year and for your future.

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3 Ways Short-term Rental Regulations Vary by Cities

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3 Ways Short-term Rental Regulations Vary by Cities

Over the years, the short-term rental business has become a profitable undertaking for homeowners to make money. These short–term rentals are an affordable and stylish form of accommodation for tourists visiting different cities. The short-term rental has grown popular over the years despite the numerous complaints from citizens. The temporary accommodation has been associated with more neighborhood traffic, noise disturbance, and citizens fear they cause inadequate housing. This is because homeowners tend to prefer short-term rental business.

Many cities have put in practice laws and regulations to govern the industry to discourage these short-term rentals’ growth. Non-compliance leads to the homeowners paying hefty fines. These regulations vary from city to city and change from time to time. Below are some of the ways in which short-term rental laws differ from city to city.

Short-term Rental Prohibition

Some cities banned these businesses completely. San Diego is one such city. Santa Barbara describes them as ‘hotels,’ which can only operate in designated zones and after all the approvals are present. In New York City, any residential house must only be used for “permanent resident use.” Therefore, the said property must be occupied by the same person for over 31 days consecutively. It is a violation to give accommodation to paying customers for less than 30days. However, it is not illegal to rent a room in the city as long as you occupy the same home and at the same time with the paying guests, and all parts of the house are available to the guest. The doors should not have locks to enable the guests to have unrestricted access to all rooms. Failure to follow the guidelines can result in a penalty of $1000-$5000 for first-time offenders in New York City. Washington DC imposes a fine of $500-$6000.

A Limited Number of Short-term Rentals in a Location

There are stricter rules in large cities, such as limiting the number of temporary accommodations in a given zone. New Orleans completely forbids short-term rentals in the French Quarter for less than 60 days, with the exemption of some areas. The city works with Airbnb and enforcement officers to help track down complaints and violations. San Luis, California, uses zoning laws to reduce short-term rentals. Short-term rentals must be not on the same block and must be at least 200 feet away from each other. Isle of Palms limits the number of occupants.

Multiple Dwelling Laws (MDL)

New York City’s restrictions are one of the toughest. The Multiple Dwelling Law only allows rentals of not more than 31 days in Class A buildings with more than three families living independently only in the presence of a permanent resident. Some cities allow short-term rentals as long as they have a city permit and pay all the applicable taxes and fees. Examples of such cities are Palm Desert and St. Helena in California and Maui County, Hawaii. In Chicago, short-term and vacation rentals must obtain business permits. In Boston, apart from having licenses, the premises should not have any income-restricted units. In Seattle, the hosts must register as both a business and a short-term rental. The states of Florida, Georgia, Maine, Vermont, Delaware, and Pennsylvania forbids short-term rentals.
Short-term rentals can give cities extra income in terms of revenues. There are about 100 short-term rentals that are uniquely distributed over 1500 towns and counties at the moment in America. Short-term rentals have also increased tourist activities. For example, the City of Brevard case has approved the rentals with the hope of attracting tourists. However, some landlords are evicting their tenants to make their premises permanent, temporary accommodation for guests. The result is that major cities are now facing a shortage of affordable housing and a rent increment.

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Questions to Ask When Deciding on a Vehicle for a Teenager

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Questions to Ask When Deciding on a Vehicle for a Teenager

Before you even begin to think about buying a car for a teenage driver, there are some things you should ask. If your child is old enough to understand, ask the questions, and decide based on the answers. Too many parents think that they can choose a car on the spot without any questions asked. This rarely works out well and usually leads to disappointment with a car purchase.

Of course, you want your teenager to have an enjoyable time driving, so don’t be too concerned with their age. But there are several questions to ask when choosing a car for a teenager? 

How much will the Car cost? 

The price will obviously be a major factor in your decision when it comes to buying a vehicle. Make sure you get an accurate figure before you start negotiating. A car salesperson may be willing to give a model, but the final cost could vary slightly. For this reason, it’s always a good idea to ask.

Who will drive the car?

Teenagers are different from adult drivers in many ways, and they should not be expected to make driving decisions. Always ask who will be driving the car. Make sure they understand not to share the car with their friends.

What kind of gas mileage does the car get?

You’ll probably want to choose a car that gets good gas mileage. Most teenagers do not plan on driving very far, so they shouldn’t be expected to cause a high mileage car. The best kind is probably a mid-level vehicle that gets average gas mileage.

What kind of security system is in the car?

You might not think about this, but a sound reliable security system can protect you and your loved ones. If you have teenage children, consider asking these questions to make sure the car you choose has this kind of system.

How much does insurance cost?

Insurance is a major expense that affects all aspects of your life. If you’re planning to buy a car for a teenager, you need to know what insurance costs. Teenagers tend to get into more accidents than older people, which raises their insurance premiums. It’s best to choose a car that has less coverage or one with a lower insurance premium.

Who will be driving the car?

This one might seem obvious, but it’s something many young drivers don’t think about. Young drivers, especially those who are just starting, should choose a reserved car only for them. Give teenagers responsibility for other people’s cars, like riding around in it while they’re not in it or driving it during homework nights. These are just a few questions to ask when choosing a car for a teenager?

Can teenagers drive their parent’s car?

Believe it or not, many teenagers are interested in moving their parents’ cars. However, this can pose some problems for the parents. Before letting your teenager drive the car, make sure they are safe enough to drive it.

Are the seats a proper fit for a teenager?

Many cars have higher and lower seats that can be hard for younger children to sit in. It’s best to choose a car with an appropriate fit. A convertible may be too high, but an SUV may be too low. Make sure to ask any questions you have about the fit of the car.

Is the car safe?

Safety is a big concern for parents, especially when it comes to driving their teenagers. If your teenager has friends who go, ask them to let you move with them. Some cars have safety features that can be activated during your rides, such as automatic seatbelts and stability control.

There are plenty more to be aware of before allowing your child to travel. If you are thinking about buying a car for a teenager, make sure you research each model, safety features, and any other aspects of the vehicle. When you keep these things in mind, you won’t have to worry about your teenager’s car safe while you’re driving around with them!

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