nanny with kids

Advantages and Disadvantages of Hiring a Nanny

Parents with great nannies swear by them. They do not want to rely on a relative or with the hassle of daily drop-offs and pickups at a center. Some platforms such as greataupair can help you get the right nanny who suits your needs.

But like everything in life, there are disadvantages that go with seemingly really good things. It’s up to you to weigh the pros and cons and decide which holds more value. Let’s start with the advantages first.

Advantages of Having a Nanny

Convenience

Mornings can be quite stressful as you need to wake up, prepare your kids, cook, and get ready for work. Fortunately, if you have a nanny, your baby will stay in your home and can nap and eat on his or her own schedule. Moreover, the surroundings are familiar to your baby.

One-on-One Care

baby careMost parents say that it is comforting to know that their kids do not have to view others for attention, as it is the case in a daycare center. When you hire a nanny, you can be assured that your baby will get custom care each day. Think of it: when you put your child in a daycare, your child may not be the first to be attended to when he or she cries or wants something.

Flexibility

You will find it easier to schedule with your nanny than with a daycare facility that closes at a particular time every day. Thus, when hiring a nanny, you should discuss in advance how to handle the last-minute changes. In this way, you will know how much room your nanny has in her schedule, and the nanny knows the pay rate for overtime.

Disadvantages of Having a Nanny

The truth is that nanny care is unsupervised. That explains why you need someone you can trust, and you will have start hustling if your current nanny suddenly leaves. These are some of the disadvantages.

No Backup Options

In most cases, your nanny can leave you without notice or with short notice. Fortunately, you can minimize such disruption by specifying in the contract how much notice the nanny should give. A month is customary, and that offers you ample time to search for a replacement.

Less Social Interaction for the Child

It is important to think about the social life of your child. A daycare facility puts children in everyday contact with their peers. However, home care does not. You can avoid this by signing up your child for classes and encourage the nanny to take her on routine outings.

High Costs

Do you know that nanny care is one of the most expensive forms of childcare? You can pay less for the live-in arrangement. If you have a good nanny in your locality, you will need to sweeten the deal with some perks like the use of a car or gym membership.

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house

Factors To Consider When Buying A Home

Buying a home is a dream of many individuals. It comes with many advantages such as giving you peace of mind and saving you some money in the long run. You also get the freedom to modify or customize your home to fit your needs, tastes, and preferences. However, the process of purchasing your home can be a bit challenging. There are many factors, which you need to consider if you want to get the best possible deal. A few of the main ones have been highlighted below.

Main considerations to make

FinancesFinances

You will need to have a way of financing your purchase. There are many options for financing, the main ones being from personal savings or through a mortgage. You must ensure that you have all the finances ready before you begin the purchasing process. That means that if you are to use a mortgage, ensure that the financial institution has already approved your loan request and the finances are ready to be accessed. Remember to budget for every financial aspect of the purchase process so as not to run short on finance.

Location

Next step would be to determine the location where you would like to live. This will help you narrow down on where your search for the house to buy. A good location should be where you will have easy access to public amenities and services such as hospitals and schools. Proximity to your place of work can also come as an added advantage as it will reduce your commuting costs. Another main consideration in terms of location is security. Ensure that you pick a safe neighborhood to have peace of mind.

Type and size of house

houseThe design and size of a house should also be considered. Your family size, the age of children and such factors may also influence your choice. For example, an apartment house would be a better fit for a bachelor whereas a bungalow will fit a family with young children. You can also factor in the material used in the construction of the house. It will determine the aesthetics of the house as well as the maintenance cost and frequency, which pile up on the overall cost of owning a home.

Neighborhood

Make sure that you find out more about the type of neighbors around the house you can potentially buy. If for example, the demography consists of young people who will keep you awake every night with their loud parties and crazy behaviors, you might consider continuing your search for a house.

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graphic

How To Finance Your Small Business

Financing a small business or a startup company is usually one of the main challenges encountered by entrepreneurs. It can determine the success of the business. There are a couple of options to go with, all of them varying in terms of difficulty of acquisition. There are factors which can influence your choices of finance, such as urgency, the amount required, and terms of repayment among many others. The most popular options are highlighted below.

Small business funding options

Bank loansloans

This is commonly the most attractive option for most entrepreneurs. You can approach a bank and set up a meeting to request for the loan. To qualify for the loan, you will be required to fill in an application and work out a payment plan. Depending on the bank, you may also be required to have some form of collateral or security for the loan. For some banks, the business itself can work as security for the loan, especially for businesses that are not startups. You will also be charged some interest on the loan, which is how the bank profits by giving you the loan. To access the loan money, that is if you are awarded the loan, might take some time ranging from a couple of days to a few weeks.

Self-finance

Another option would be to finance your business using your assets. You can do a calculation of all the assets you have such as your vehicles, real estate, or savings among others, to see what you can spare to invest in your small business. This method of finance has the advantage of not having any interests charged. You also get to retain full ownership and control of your business, which is crucial when it comes to business decision making.

Product presale financing

sellThere is also the option of selling products before launching your business, as a way of sourcing funds. This is what is known as product presale financing. The only drawback for this is that the goods have to be fully developed for it to work. You must have complete confidence in the product to ensure that it will not affect your brand and your future sales.

Venture capitalists

You can get a venture capitalist to invest in your business and help you grow. For this method to work, you must meet all the stringent requirements that they usually have. You must also be ready to offer a certain percentage of the initial investment as returns. Offering some equity of your business might also work.

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