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While ideally you should be paid for doing an internship, the reality is sometimes an unpaid internship offers a rare chance to gain valuable experience and get your foot in the door. Whatever your reasons for doing an unpaid internship, you'll want to have a plan for getting through it without upending your finances. We look at how you can plan ahead, strategies for managing your money, and how you could earn money on the side.

Planning ahead

Do a budget for your entire internship, and factor in things like commuting costs and lunch expenses. Also account for rent, food, groceries, and other personal expenses. Plan for your costs ahead of time so you're not caught out without money to cover your expenses during your internship. For example, if you’re working at an agency in Chicago, make sure you do your research on that area’s rent prices before finalizing your budget.

Having done a budget projection, you can work out whether you need to save more money ahead of time. If you do, start cutting out discretionary things like daily coffees, eating out, and luxuries.

Claimable expenses

Check-in with the business about any claimable expenses. For example, the company might be happy to cover your lunch and commuting expenses. This can be helpful if you're traveling quite a distance to your internship.

Perks

Research whether you'll have access to free gyms, fitness classes, and other freebies during your internship. This might mean you can suspend your own gym membership and save more money in other areas of your personal life.

Work clothes

Research the dress code at the company and consider whether you might need to add a few items to your wardrobe. Presentation is important, but suits and workwear can be expensive, so look online and in second-hand stores for good quality used items if you're on a tight budget.

Travel and accommodation

If the internship location is near where you're currently living, then it'll be easy to stay where you are. However, if you need to travel to another city or state/territory, make sure your travel plans and accommodation are taken care of ahead of time. These are the biggest expenses, so be prepared ahead of time. Staying with relatives and friends is the cheapest option, but you might need to find a hostel, homestay, or apartment for your internship. Look on Airbnb and other accommodation sites to get the best possible deal.

Tips for managing money

Look for creative ways to save more before and during your internship.

• Transport: If you need to take the bus or train, work out whether monthly passes are cheaper than buying daily tickets. Explore options like cycling, ridesharing, and walking more to keep your costs down.
• Lunches: Eating out five days a week for lunch could set you back $50, $100, or more. Consider bringing your own lunch or researching cheap eateries nearby. However, don't turn down work lunches as they can be a great opportunity to network and make valuable industry contacts.
• Tax: Get professional advice on whether some of your internship expenses could be tax-deductible.
• Groceries: Make a point of buying your groceries on special, seeking out discounts, and using coupons wherever available.

Earning additional money

It's not uncommon for students to keep working part-time while doing an internship. You could partly finance your internship with a part-time job, grants, and/or help from family and friends.

Working part-time while doing an unpaid internship

It's a good idea to try negotiating your working hours so you can manage a part-time job at the same time. If you're already working, this might be the only way to make time for an unpaid internship. If you're not working, avoiding peak-hour traffic times is a bonus and can make your daily commute less stressful.

If you can't be flexible about your internship hours, look for different ways to generate extra income on the side. Part-time jobs like childminding, tutoring, and pet-sitting come with flexible work hours.

Grants and financial aid

Research organizations, foundations, and government bodies that provide grants to students doing unpaid internships. They might provide you with some much-needed funding if you satisfy their criteria. For example, some foundations might be looking to help out students who are interested in conservation and the environment.

Similarly, you could consider financial aid. This could mean taking on more debt though, so be mindful about how much debt you'll be incurring. If your internship counts towards an academic credit, your university might be more likely to have scholarships or financial aid to help you out.

Family and friends

Consider whether family and friends are willing to loan money or make a donation to help you take advantage of an internship opportunity. If you can demonstrate how the internship could help you secure a graduate opportunity or let you get started in your career, your loved ones might be more than happy to help out.

An unpaid internship could pave the way to valuable experience and a job after uni, but you should plan your finances carefully and budget expenses ahead of time. Look for ways to save more money during your internship, and consider how you might be able to finance it with things like grants and working part-time. With careful planning and a bit of creativity, you could pursue an unpaid internship without breaking the bank.

It goes without saying that when you hire a credit card payment processor for your business you must look beyond the initial price that you have to pay. Especially if you are a small business owner and your business volume is low, you must you must look at the services provided apart from the payment structures so that you are sure that it matches with your specific business needs.

• Ideally, all credit card processors who are also referred to as merchant account providers will help you to facilitate such credit card transactions and in turn will charge a fee from you for their services.
• You must also remember that, every time a consumer pays you for a purchase using either a credit or debit card, you being the seller will have to pay this specific fee to the credit card processing company.

There are different types of fees that the credit card processing companies may charge you and all these fees will take a lot out of your bottom line. According to The Nilson Report, a payment industry newsletter, it is pointed out thatsuch credit card processing fees can range anywhere from 2.09 to 2.33 percent. This is actually the weighted average processing fee charged by all card issuing companies including:

• Visa
• Mastercard
• Discover and
• American Express.

Therefore, when you hire such a company you must consider all these costs carefully so that you do not end up paying more than what you gain from making a sale. This is all the more essential for you to consider if you know that you have a customer base in which most of them use their credit and debit cards to make the payments. Why? This is because all these costs may seem very little initially when considering an individual purchase but when taken together, it can really add up to a huge amount and very quickly.

Choosing the right rate

Fortunately, you have specific and useful ways in which you can save a lot on credit card processing fee costs. Consider the pricing model of the company as different payment processing companies will charge you differently.

Therefore, there is no reason to believe that the convenient and flexible pricing model followed by Nadapayments will be followed by all such companies.

• Some payment processing companies may charge you at a flat rate as well as a percentage of the sale made
• While a few others may only charge you as a percentage of the sale.

Typically, it is best to choose a credit card payment processing company that charges at a flatrate fee plus a percentage of the sale. This pricing model is extremely beneficial for a small business that sells bigticket items as compared to those that sell lowerpriced items. This is because splitting over a percentage of your sale with the payment processor may prove better for your business in the long run.

Consider a few things

It goes without saying that you will need to do extensive research on the credit card processing companies when you choose one for your small business.

• While doing so, you must also keep in mind to ask for a sample bill. This will give you a clear idea about how much you will be spending each month in paying fees to them for their services.
• In addition to the fees for their services, you must also consider whether or not hiring their services will be cost effective for your business. Mind you, you will also have to purchase or rent a few gadgets that are essential for credit card and debit card processing.

However, not all credit card processing companies will charge you for these. There are a few that will offer such equipment for free. Looking for such companies will save you from such upfront fee or monthly rental fee for using their equipment.

Difference in processing

The processing process can be different for different types of purchases which will vary the price for such services. For example, the credit card processing process for in-person purchase of an item may be different and cheaper from a purchase that involves mobile credit card transactions.

Therefore, you must first decide what type of credit card transaction you will follow for your business in order to keep your fees under control.Typically, the type of payments you process will depend on a few factors but the most important factor is the type of business you run, whether it is e-commerce or a brick and mortar type of sale.

Ideally, you should opt for a credit card processor that will accept payments made through:

• All major credit cards
• Debit cards
• Prepaid cards and
• Gift cards.

In addition to that the credit card processor must also accept payments through different digital wallet payment methods such as:

• Apple Pay
• Samsung Payand
• Google Pay.

Your processing system must allow your customers in your physical store to insert and swipe cards or tap on their smartphones to make a payment.

On the other hand, if you run any ecommerce business the payment processing solution must work on desktop as well as mobile devices both.

As for the B2B companies the most popular form of payment accepted is ACH electronic bank transfers, according to the Federal Reserve Payment Study.

The cheapest car processor

If you are looking for a cheapest credit card processor for your business, you will have to compare different such companies. However, you must remember that cheapest credit card processors may not always be the most costeffective option for your small business.

If you earn less than $2,500 per month it is best to work through credit payment facilitators or any mobile credit card processor. If it is more than $3,000 per month, you can work with Independent Sales Organizations, ISO or Merchant Service Providers, MSP.

If you work through these payment facilitators they will surely charge a higher percentage as compared to the other rates but you will save on the long run as there are no other fees such as setup fees, annual PCI compliance fees and others.

Financial planning provides a direction, purpose and meaning to your life in terms of financial decisions. The importance of financial planning can be figured out by the importance clients associate to this form of decision making. Financial planning differs in context from one individual to another. It is not only about finances on how you need to achieve your wishes, but it means the cost you might be spending to arrive at those objectives. In hindsight you need to plan for your goals, otherwise it would be really difficult on your part to achieve them.
Financial process is basically the process on the amount of money you earn, spend and invest. Once you plan your finances, you allot money in a manner helping you to achieve your goals.

The benefits of financial planning

• A sense of direction to your goals and dreams are provided- Financial planning helps you to figure out what are your goals and how you can go on to achieve them. The impact on how the goals related to your finance and life is mentioned 
• By financial planning you are able to manage inflation. You take stock of the price of various items and even activities. In short you are able to plan out your budget in a better way
• By adopting financial planning you are disciplined in the manner you use money. There is no need to be spending on unnecessary things as a habit of saving culminates
• By managing your finances you are able to plan for the future. A sense of visibility is obtained in relation to the finances of the future. You are aware on the returns of investment expected that is going to help you achieve your goals.
• Last but the most important fact is financial planning assures you have complete peace of mind

How financial planning is related to every aspect of finance

• Income – Once you have a regular income, you tend to manage your income better. You need to be aware on how much amount of money you earn from income, salary and dividends. This clearly helps you to figure out the amount of money you are earning and whether it is going to help you achieve your objectives. Eventually you can outline whether you have a choice or a no choice at all.
• Expenses- when you spent money on basic needs, unnecessary spending plummets and a habit of saving develops. Once you are planning your finances you keep an eye on your expenses. In case if we are going overboard in a particular month, then also we are aware on how much to cut so as to make it up in the coming months. The spending pattern varies with our lifestyle and changes of life. Clearly you are able to outline the income requirements and the changes you need to be make accordingly
• Savings- In a financial plan you go on to record income along with expenses. By doing so you are aware of the savings. By financial planning you are aware on the amount of money you need so as to achieve your objectives. Just you need to formulate a budget and figure out whether you are sticking within limits or overspending. This is going to help you understand your spending patterns and how much you need to save so as to achieve your goals
• Investments- By a financial planning you will be in a position to figure out the right type of investment planning calculator for future. This is going to be dependent upon your goals and risk profile. A top quality financial planning is going to pay a lot of attention to investment diversification along with asset portfolio. By doing so you are able to achieve a balanced portfolio at all times.

To sum it up there are a lot of changes that can take place in your life. You might be getting married, or very well end up losing your job or even death of some member in your family is a possibility. All of them are money decisions that go on to have a reasonable impact on the standard of your living. The evolution of such status leads to a positive or negative impact on your finances.

Do you take care of your credit file? You might have heard about your credit file, or you may not have a clue what it is. Your credit file is important. It’s essentially a footprint of your financial connections and movements. You should take time to consider it, as it could put you in good stead in the future.

Here are three big reasons you shouldn’t neglect that credit file:

#1 – You WILL need it one day and it is FREE

Some people think you only need to care about your credit file if you are planning on buying a house. In actual fact, it is not just house buying that you need a credit file for. Any bank account, personal loan, rent contract, or sometimes even employment contracts, require a credit check. The credit check will tell the person how responsible you are with money. You will need this at some point in your life, so it is best to keep it maintained as early as possible. It costs you nothing to do this.

So, bear in mind that you should always pay bills on time, try not to hit an unauthorised overdraft, and keep credit card debts to a minimum (always pay back in full on time each month!) This will help build a picture of your credit spending for when you need it in the future. Even having a mobile phone contract that is paid in full each month will show on your credit file and will help you. Finder.com suggests putting a utility account in your name. If you live with someone who has all of the household utility accounts in their name, see if you can transfer one of them into your name. Additionally, if you don't want a credit card, a personal overdraft could be an option as this also shows on your credit file. This small step can help build a better credit picture for you.

#2 It is an important part of personal financial admin

So you may be thinking that you don’t need to worry about your credit file because you live at home with your parents, you don’t need any credit, car finance, or anything similar. Your credit file is effectively blank. BUT – this is bad too. Having no credit file means you have no proof that you know how to manage your money. When it does come to the time that you want to move out, you have no credit file to help prove you can be responsible.

It is important to think of a credit file as personal admin and financial maintenance.

Like other day-to-day administration tasks, you should factor money management into your mind set. Instant loans provider Wonga set up a blog post explaining the details of a credit report in more detail, which we suggest you take a look at. You can also visit their Money Academy for more free help and advice to effectively manage your money. This should be a priority for you, even if you have no immediate financial plans. Wonga explains how important a credit file is to your financial future. Their useful blog explains how a credit file maps out your past financial choices to any potential lender, and so you should not dismiss it as being unnecessary. Working on your credit file little and often is the key.

#3 It helps with Identity Theft 

If a fraudster makes a credit application in your name, the lender will check your credit report before making a decision. This leaves a mark on your file that you can see. Having a credit file that you can check often is a good way of identifying whether you are an identity theft victim. See a name you don’t recognise? Report it!

Financial requirements can come up at any time, and it is essential that you are prepared to face them effectively. One of the biggest support systems that you can have is your savings. After all, you have saved the money as protection against rainy days only, but what if the amount available with you is insufficient. If you are an ICICI Bank Credit Cardholder, you can apply for ICICI Loan on Credit Cards. Under this facility, ICICI Bank allows its customers with an option to apply for an instant loan for their necessary requirements and make the repayments through easy EMIs.

More about ICICI Loan on Credit Cards

Being a premier banking and lending institution, ICICI Bank offers multiple types of Credit Cards for its customers. Depending on their Credit Score, repayment history and spending pattern, the bank offers instant pre-approved loan against certain ICICI Credit Cards. As the name suggests, these are instant loans which do not require any documentation and disbursals are made on an instant basis.

Following are the important features of ICICI Loan on Credit Card: - 

• Customers can avail maximum amounts of up to Rs. 10 Lakh as an instant loan on Card. 
• Maximum repayment tenor of up to 60 months is available against this facility.
• Attractive interest rates, which are much lower than the APR on Credit Card. 
• Minimal documentation and no need for any post-dated cheques.
• No need for any collateral or guarantor.
• Loan amount transferred directly to the customer account through NEFT or RTGS.
• The option of receiving the loan amount through Demand Draft is also available. 
• Pre-approved offers keep on changing depending on the credit profile of the customer. 
• Applications are approved and processed within 30 working days for online transfers. 
• Demand Draft payment disbursals can take up to 11 days.

Types of ICICI Loan on Credit Card

Different customers have different needs. Therefore ICICI Bank offers different types of Instant Loans to its Credit Card customers.

Personal Loan

You can avail an instant Personal Loan of up to Rs. 10 Lakhs against your ICICI Credit Card for any major financial requirement of yours. It is an instant loan with minimal documentation and quick processing. Money borrowed could be used for any purpose. The repayments have to be paid separately from the Credit Card bill, as a new loan account is created. Maximum repayment tenor available is 60 months.

EMI on Call

With this facility, you can convert any purchase transaction above Rs. 3,000/- into easy EMIs with repayment tenor extending up to 12 months. When you opt for this facility, the entire purchase amount is converted into EMIs, and limit up to the said amount is blocked on your Credit Card. Every month, EMI will be added to your Credit Card bill and should be paid along with. The interest rate applicable on EMI on Call is lower than what is charged against the Credit Card.

Balance Transfer

You can transfer your outstanding dues on another bank’s Credit Card to ICICI Bank and enjoy the benefits of lower interest rates. Maximum repayment tenor available under this facility is 6 months, and no documentation is required.

Instant EMI

Instant EMI is suitable for those customers who like to make purchases online. With this facility, you can convert any online transaction into easy EMIs with repayment tenor extending up to 24 months. The interest rate applicable starts from 13 percent per annum, which is much lower than the APR against the Credit Cards, which can go up to 42 percent. No documentation is required to avail this facility, and ICICI Bank does not charge any processing fees against this facility.

How to apply for ICICI Loan on Credit Card

The application process for availing the facility of an instant pre-approved loan against ICICI Credit Cards is straightforward and can be completed through multiple channels. Following is the application process:

Personal Loan

You can apply for a Personal Loan against your ICICI Credit Card through net banking, mobile app, or customer care helpline.

• Log-on to your ICICI net banking account with your username and password.
• Browse to the Credit Card section and select your credit card against which you wish to avail this facility.
• Now, select the option for an Instant Loan against Credit Card.
• If you are eligible for a pre-approved loan offer, you will be able to see the amount and other details here. 
• Now proceed ahead with the application process by selecting the amount, interest rate, repayment tenor, and preferred mode of payment.
• Check the details and give your confirmation. 
• Follow the on-screen prompts to complete the process.
• You will receive a confirmation message and mail from the bank on disbursal of the amount along with other loan details.
• If you are not eligible, there will be a message displayed on the screen regarding the same. You can still call the customer care center and make inquiries.

EMI on Call

You can avail this facility through net banking, mobile app, or through the customer care helpline.
Steps to apply:

• Log-on to your ICICI net banking account with your username and password.
• Browse to the Credit Card section. 
• Now, select the option for “Convert to EMI.”
• You will now be able to see different transactions which qualify for this option.
• Now, select the transaction and repayment tenor as per your choice and click on confirm.
• You will see a confirmation message on your screen. 
• Alternatively, you can call the ICICI Bank Customer Care help desk for assistance as well. 

Instant EMI

You can avail the facility of Instant EMI by using your ICICI Card for making payment online. There you will be able to see an option to convert the amount into EMI. Just follow the on-screen prompts and select the repayment tenor to avail this facility.
With multiple benefits on offer, ICICI Loan on Credit Cards, allows you to enjoy a superior user experience along with the regular benefits of plastic cards.