General

How to Set Financial Goals

A financial goal is something you should strive for when managing your finances. It could involve earning money, spending it, or even preserving it. Make a list of your financial goals before you can develop a budget. When you know exactly what you’re trying to achieve, working towards that objective is easy.

We make a lot of daily decisions based on money. We can gain control and increase our confidence in our decisions by setting goals. The personal, overall objectives you set for how you’ll save and spend money are your financial goals. They could be goals you have for the future. In either case, setting goals in advance can frequently make achieving them simpler.

Several examples of financial goals are:

• Repayment of debt
• Retirement savings
• Creating a reserve for emergencies
• Purchasing a home
• Spending less on a trip
• Launching a business
• A sense of financial security

Why having a budget is important –

Having financial objectives can help you create your future by influencing the choices you make today. For instance, your objective is to pay off a sizable credit card account. You might reduce your takeaway intake and utilise the money you save to make further payments. Without setting that objective, you’re more likely to carry on with your current spending habits while your debt grows.

A sensible financial goal objective should be –

• Achievable – Set your future goals using your current and anticipated income. To get what you desire, don’t rely on winning the lottery.
• Specific – An aim that is explicit and unambiguous is “to pay for 50% of my child’s tuition at a public university,” not “to get affluent.” your goal should be specific to your need.
• Measurable – Decide when you want to achieve your objective, such as when you want to retire or when you want to buy a new house.

The Top 10 Financial Objectives That Everybody Should Set –

• Maintain a Healthy Emergency Fund
• Get Debt Free – Permanently
• Plan An Early Retirement Plan
• Create several sources of income
• Have Enough Insurance to Cover Emergencies, But Not Too Much
• End Any Addiction to Stuff You May Have to Be Able to Live on Less Than You Earn Make a Plan to Work at Something You Love
• Develop the Habit of Sharing Your Success
• Make a plan to leave your finances in order after your passing

How to Make Financial Goals –

• Put them on paper – When you write down your goals on paper, something amazing occurs. You’re also more likely to succeed in achieving them.
• Make them particular – specify the exact financial goal you want to achieve and plan that accordingly. It will clear your vision and guide you to accomplish that in a better way.
• Give them a measurement – Choose an amount now that you can measure to see if you achieved the aim or not. You decide to pay $15,000 toward your debt after taking a look at your spending plan and debt. That is a measurable objective.
• Set a deadline for yourself – If your objectives aren’t time-sensitive, it will be difficult to accomplish them you must set a timetable for yourself that is both reasonable and demanding.
• Ensure that these are your objectives – Make sure your financial objectives are the greatest option for you when you set them. In other words, you shouldn’t take out a second mortgage simply because all of your friends are doing it for newly renovated kitchens. Put on your blinders, concentrate on your lane, and run the race in your direction.

Your life will alter as a result of achieving your financial goals. Every money will go further if you are intentional with how you spend it. As a result, you can accomplish more of what you want to do and make plans for your future activities. Set some goals if you want to accomplish more than what you previously believed is possible. Decide on the future you desire, then work out what has to be done to bring it about

Block Chain Technology

As the world has entered into a new era after pandemic the people are also now sustaining and entering into a new phase of storing their financial values. Though paper money has carried its own value but now is the age of the digital currency. There is a paradigm shift in medium of exchange currency which is neither associated with any government nor with any physical forms of coins and currency. This has become a medium of exchange which is generated, stored and transferred electronically. People have started investing in these digital currencies as they are safe. These have now become more popular.

Introduction

Crypto currency is a secret or private currency like Bitcoin, Dogecoin, Ripple, Ethrum etc. These are maintained in a public ledger that involves many computers and people which is known as person to person network or peer to peer network. A revolutionary technology takes care of the whole network which is called the Block Chain Technology. All the transactions made in the crypto currencies are actually recorded in the blocks. Number of blocks together is interconnected in a form of chain. All the transactions made are transparent so any misleading or fraudulent activities are easily detected. All calculations are done so accurate that it becomes one of the safest ways of the transactions. The process of such transactions made or validating the same is called Mining and the people involved in the process of development are called Miners.

Recordkeeping technique for cryptocurrency i.e. Bitcoin is actually known as Block chain Technology. It is a type of database that collects information and store in computers. The data are set in a tabular form so that searching and filtering of any specific data can be done easily. This database can be accessed by multiple users. The purpose is to record and distribute the information but restricts the use to edit the same. This system started in 1991 and was introduced by Stuart Haber and W. Scott Stornetta. But the real world application was with the introduction of Bitcoin in 2009.

The block chain collects information in groups and these are called Blocks. These have limited storage capacity, so if one block is transcribed with the information automatically it forms another block.

How does it work?

The chain contains a lot of information. Every block contains a cryptographic hash of the previous block. This hash is generated for every transaction and is basically a string of numbers and letters. The input of letters and numbers is encrypted to a fixed length of output. This hash does not only depend on the transaction but also depends on the previous blocks. Hence, a minor change in the transaction creates a new hash that affects the whole system. This helps to prevent any fraudulent activities and can easily be detected hence proving it as a secure option.
The block chains are spread in many computers and are called Nodes. These nodes approve the transactions by the hash created which are encrypted in blocks. The nodes frame the infrastructure and store, spread and preserve the block chain which automatically updates itself in every 10 minutes.

Usage of Blockchain

Crypto currency: It acts as a special type of database for Bitcoin that stores all the transaction. The currency options are spread in the computer networks which gives an autonomy to operate without any Central authority. All monetary transactions stored in the blocks. This way the risk is minimised and processing & transactions fees are also eliminated.

Banking & Financial institutions: These have an advantage on Banking & Financial institutions. It has achieved the most through the integrating block chains that helps to complete a transaction in only 10 minutes. Possibility of Point exchange has become much easier between the banks and institution.

Healthcare sector: This sector uses this technology to secure the patients’ medical record. Private Key can also be used to secure the patient’s privacy.

Supply Chain: It can also be used by supply chain industry to keep the record of their purchases to verify the products authenticity.

Voting system: Fraud and manipulation of votes can be prevented as its protocols save the transparency of the voting system.

Decentralised Finance (DeFi): Block chain has enabled the usage of the network by anyone. It has enabled Decentralized Finance (DeFi) services for the crypto currency and its uses in industry. It has provided many globally accessible services in spot trading, lending and borrowing, savings and yield products, market prediction, Asset exchange and swap and stable coins etc.

Block Chain Games: Even to make it more accessible and to increase the number of users, free block chain games have been introduced where players can trade their in-game assets and access is granted to them to earn rewards in form of crypto-currency.

Advantages

• Transparency is maintained in every transaction
• It is secure & privately managed.
• Accuracy can be easily improved.
• It has minimised the cost reduction as no third party verification is required.

Disadvantages

• Due to high speed it can carry only limited transactions.
• It has been used in many illegal activities.

Conclusion

Block chain is in its sprouting stage and has a lot of scope for evolution in the future. Many trends are still undiscovered but it can surely revolutionize the entire world and rise to become the one stop solution to secure the trust in finance and global trade. In recent times, it has surely proven to be the fuel for innovations and many developments.

Verifying Credentials: the necessity of your business

In today’s era an interview is the entrance to employment for any organisation. A detailed resume is provided by the candidates to project their personal details and credentials. The words and information delivery are always impressive. But what about the authenticity behind that remarkable presentation?

According to kin observers, 30-40% of mentioned information in resumes or in portfolios are fake. Even 10 % of the provided data is not trustworthy. Then at that point, incorporating such a system or any individuals may cause potholes. Fake credentials are a big concern nowadays that is why many companies and organizations rely on background verification (BGV). Especially digital hiring process has become riskier in terms of providing truthful information.

What are the possible frauds

1. Fake Identity –
   Digitization makes life easier. At the same time it has some adverse effects also, as fake id can be created with the help of new technology. One can’t differentiate between original and fake documents with naked eyes.
2. Fake Information
   It is very easy to give fake and alluring information verbally to misguide. Impressive communication skills with false information can become fishy. Hence supporting documentation with credentials is required for verification.
3. Concealing the truth
   Anyone can tell a falsehood to establish their deceptive image which is alluring, to acquire their intentions. It’s crucial that the lies told by the person do not harm you in this situation, but shows how deceitful they are.

Background verification can be

1. Background Check –
   The third-party organisation ensures through investigation the reliability and veracity of all the information provided to you. The material screened may include a person’s or an industry’s track record, fake information, or other potentially dangerous information. You can identify future danger factors thanks to the background investigation.
2. Checking Criminal Record
   The conduct histories of the workers are pivotal for guaranteeing the security of the workspace and other representatives. It is vital to examine any occurrences of work environment savagery, sexual badgering, and charges of careless civic conduct.
3. Previous Company Record
   These documents or references support the validation of their professional background and provide insight of their behaviour. Any aberrant behaviour they have is displayed, which an employer or an organisation would specifically wish to avoid, will be brought to light.
4. Address and Nationality Proof
   This is the era of start-ups. There have been cases where the market newcomers founded their own company with false address details and documents. There are some people who disclose their true address and nationality for selfish and destructive intentions. But with the help of latest technology and by using the specified address, the manager can verify the correspondence’s validity. The foundational details provided by the employees can now be verified thanks to technology. If these details are not checked, the company’s data is at risk. As a result, before enlisting or handling deals, one should be certain of these facts.
5. Social Media
   In today’s era, an individual or any firm are connected to social media platforms. The continuous exposure point can become the studied element to understand anyone. That social media profile gives you an idea about the person’s whereabouts and character, which may be unsuitable for you or your organisation.

Conclusion

The background check procedure eliminates negligent hiring risks. Your work is made easier by the numerous third-party background verification companies that exist. Your business objectives will benefit from the trustworthy traits. One can choose varieties of ways to make anyone fool, these are calculative. It adds as a layer of protection form any harm to you and your organisation.

IT professionals – Tips to balance your Health and work-life

A majority of professionals struggle to balance their lives, to manage a healthy lifestyle along with a busy work schedule is a constant concern. The question always is how to manage a healthy life and balance work life?

After the pandemic, companies’ enrollment was at the top. The newly placed students had the chance to enter into an altogether different atmosphere, the aura of the organizations they got placed overtly mesmerized them. They now have a life where they are capable. Whereas many employees still have the option of working from home.

Overseeing proficient life and confronting challenges amid adjusting to work is over-whelming for both, the new employees and the experienced ones. They find themselves resorting to meditation once a week or yoga and wellness programs. Having a well-balanced work-life isn’t like coming to and returning from work on time. In a broader viewpoint, it is about prioritizing things as per their significance. One may see work-life adjustment as the approach to preserve a break even within the work hours. But it’s not!

In India, there were almost 200 million people with a mental disease in 2017. During the pandemic, the number increased exponentially. 56 percent of IT professionals, as we can see, are reported having musculoskeletal issues. 40 percent were obese, 54 percent experienced despair, anxiety and insomnia and 22 percent had recently been diagnosed with hypertension. With this, extra work pressure is complimentary.

As long as you are working, balancing the responsibilities of your professional and personal lives will probably be a constant struggle. But you can find the work-life balance that works best for you by setting boundaries and taking care of yourself. On the off chance that you’re investing most of your time working, your work and your domestic life could be adversely influenced.

5 Points to Achieve Work-life Balance:

1. Break Between Work

   The human brain must occasionally energize if it is to be productive. Decide on a break time and give your work a break. It will aid in mental renewal for you.

2. Plan out Everything

   Create a schedule based on your top priorities. You’ll layout your plan errands all through your break time. A great arrangement for your daily tasks or whole life will assist you in dodge perplexity.

3. Choose Healthy Lifestyle

   What you have on your plate prepares your brain and body to deal with challenges. Your daily energy demands are met by proper, healthy meals, which prevent weariness. Your capacity for productive work and clear thinking may suffer when you’re weary.

4. Choose your enthusiastic hobby

   What is your consistently exciting hobby? Find out the answer and try to put it into action as soon as possible. Your hobby is the best option for rejuvenating oneself.

5. Social Detox

   Yes, avoiding social media makes you feel a lot better and gives you some space to contemplate the present. You can choose any time slot during the day or the week to turn off your internet.

Conclusion

Your health is entirely in your hands. Maintaining a healthy balance between your personal and professional lives by adhering to your daily schedule is important. As you consistently stick to your routine, discipline develops. Any person can avoid or at the very least reduce their level of work-life stress.

10 Reasons to use Foss Technology

Fossgen is a leading IT solution company based on FOSS technology development. We are an innovative designer and developer who serve for betterment and the software is customized to accomplish client requirements using different open source platforms.

FOSS technology is introduced for free and customized software that can be modified according to user requirements. FOSS technology is free software known as Open Source Software that provides interesting tools for the creation of software and knowledge efficiently. It is accepted for free sharing, exchange of software, and knowledge as a practical instrument for development. FOSS technology is freely licensed that allows modifications, use, and copying of the software to encourage and improve the software design.

We prefer open-source platforms like sunbird and beckn systems. Sunbird is Digital Public Good (DPG) community to supports open source projects worldwide that contribute digital building blocks and tackle global challenges. It facilitates discovery and development, increasing use and investment in DPG.

Beckn is an open source universal transaction protocol that we prefer to facilitate our clients to connect to any platform of their choice for the transaction. It is an interoperable transaction system that allows connecting consumers and providers through this open source.

Such different platforms in FOSS technology are the need of modern digital technology. Our IT solutions and software design are based on the concept of using open source platforms and offer the clients solutions with the benefits of FOSS technology. Several other tools of FOSS technology are available as open source tools that have several benefits over the closed source or proprietary software. Users prefer these open source platforms for the betterment of the performance and efficiency of the technology.

Here are the reasons to choose FOSS technology as mentioned below.

1. Easy access:
   Open Source code allows entire software to be accessible to download and free basic structure. It allows customized changes to achieve the basic needs of the user by developing their own variants. FOSS is therefore an easy and less time-consuming technology.
2. Software availability:
   Easy downloading and installation makes the FOSS technology the best choice. It is accessible for use regardless of purpose, device, or user group. These features are efficient for users with great flexibility of use.
3. High quality:
   FOSS software is well-designed, high-quality software with ready source code by experts reducing the possibility of errors.
4. Management of software:
   Integrated software management by the community combines high-end technologies to manage software for information and web services. It gives efficient management of servers, workstations, and applications.
5. License:
   With these open source platforms, our clients are free from worrying about licenses since multiple times installation from any location is allowed.
6. Low software cost and hardware cost:
   Free open source code has the benefit of lowering the cost of development with time-efficient technology reducing license and usage costs. An easily portable form of the technology reduces hardware costs due to the integration of web servers and workstations. It includes the commercial service and implementation charge in addition to the maintenance and set-up costs. FOSS is therefore a very cost-effective option tending to fulfill users’ needs.
7. Security:
   FOSS software is more secure where it is easy to fix the error and quickly update the software program. It saves time to get updates from the source or author of the software.
8. Stability:
   FOSS is a better choice for long-term use since its stability is more as compared to proprietary software. Open source availability makes software tools work for critical tasks. Consequently, it is more stable in the integration and operation of code according to open standards.
9. Opportunity and Innovation:
   FOSS technology is an efficient platform for new ideas and communities can work together and share new ideas. Sharing opportunities encourages new products. FOSS technology is so fast to try and test, allowing quick marketing of software. It is an innovative process with the best solutions.
10. Reliability:
    The reliability of a technology depends on its workings, outcomes, validation, and customization. FOSS accomplishes these needs and has emerged as a reliable technology gaining the trust of users as well as developers.All of the above open source benefits are important for software development and design. Therefore, our clients are gratified with our service in FOSS technology.

National Digital Education Architecture ( NDEAR )

ICT (information and communication technology) sector has offered so many ways of learning to all teachers and learners through educational resources via a variety of free software. FOSS technology has renovated the outlook of using paid software. In an era of online learning MOOCs (massive open online course) is used by trainer for transacting curriculum-based material.

Now let us understand what FOSS is?
FOSS is an acronym used for free and open-source software which consists of operating systems such as Linux, FreeBSD, and LibreOffice. These manage office documents created by Microsoft’s Excel, Power-point, and Word, Firefox (a web browser), or GIMP (an image editing program).

Free software licenses such as the GPL and the BSD allow users the ability to freely utilize and developers the ability to develop software.
A free and open source software solution is good for the programmer as well as for user’s benefits. It is a better and more efficient software solution widely used. Also, it forms the mainstay of the Internet which would not exist without FOSS.
Another important thing to acknowledge about FOSS technology is not just free in the sense of freedom in every box of cereal. This has made it possible for community efforts to develop world-class products in a way that products never could be.
Those who use Foss technology actively contributing. It is a community effort, having importance to the community.

How FOSS can be safe for NDEAR (National digital education Architecture)?
It is easy to understand and common thing that we think free think cannot be as good as something which you can pay for.

Why you should trust free software?
When a site offers the user a free download option then it’s only free in the sense that you don’t require any credit card for the same. But the only thing associated with it is one cannot get the source code due to “free” downloading.
By using FOSS technology, you will not only get a free download but also you are being given the freedom to openly review as well as edit the code of the software itself.
A free coupon program does track all of your activity on the internet secretly and put up associated ads on web pages to make money which a FOSS technology solution really cannot do like that.

Benefits of FOSS for NDEAR:
The world runs on proprietary software and it’s easy to look around your office where you can see computers running Microsoft Windows. But that might be a mistake. Open source is often more used behind, and it drives the force which enhances the economy.
BDS is another significant FOSS operating system that runs applications like Linux. Foss enabled video rendering applications are also used to make some impressive movies, and advertisements for products of major companies such as Pepsi, Coca-Cola, and many more.
If you have used Mozilla Firefox browser and Google chrome browser, then you have used FOSS personally as they are based on the open-source chromium browser.
There are ample growth opportunities with complete knowledge of open source technology solutions.

National Digital Health Mission ( NDHM )

Open-source software platforms help various innovators create solutions that would otherwise require much-dedicated tech-savvy. India is ready to create electronic health records (EHR) for every person as part of NDHM (National Digital Health Mission). This development of open-source software facility will surely be beneficial for varied innovators in order to make affordable Health -Tech solutions.

Even using open source technology is much beneficial in the medical field, though it has some major concerns which one has to be careful.

So, let’s move to the key concerns that one has to keep in mind for accepting FOSS technology in the medical/healthcare field:

The nature of FOSS technology is major-related licensing, data protection, and security issues. These terms come along with FOSS solutions in any field of work, there are some factors that are of more significance in the healthcare or medical field listed as below:

Accuracy:

FOSS technology while used in the field of Healthcare is extremely accurate. General-use software may not be suitable for the care and thus we at Fossgen are very particular in providing precise software on case to case basis.

Certification:

The level of innovative technology and support that we are providing remains to be seen for FOSS even for critical parts of the medical field.

Licensing:

If you are getting OSS then you should be very clear about the licensing norms associated with OSS. If you do not check it well, then it can probably result in downstream costs. Thus, to avoid such downstream costs, Fossgen is here to help you with the best OSS service for you.

Security:

Security is the main concern of any field and there are approximately more than 90% of apps across industries that contain open source technology and they are vulnerable. Security is what we Fossgen have wide in place before the adoption of OSS.

Will FOSS development be affordable in the healthcare or medical field?

NDHM (National Digital Health Mission) embraces a promise of transforming India’s healthcare system to another vertical. Technology is used in every sector, thus the adoption of OSS/FOSS technology in the medical sector will enable probabilities to create platforms and applications with best-in-class security norms and data distribution standards.

NDHM (National Digital Health Mission) is envisioned as an ODE (open digital ecosystem). This is a platform that enables breaks of data and sharing of information with patients’ consent. It also promotes service innovation to offer better healthcare to each people.

Open source technology basically promotes the governance system to coordinate on a win-win basis with many start-ups and tech talent while the ultimate objective of sustained innovation.

National Digital Health Mission standards with interoperable layers can provide patients, practitioners, and associated ones with the required user services.

Open source technology protocols will help innovators devise solutions else which will be much more expensive.NHA should actively support this FOSS which is highly used as the starter blocks, EUAs and HSPAs in the public health system.

Along with that, it will also aid in ensuring clinics, hospitals, and patients who cannot afford expensive software with a high-quality option for them.

With FOSS solution we expect to level the playing field in which emerging needs, would be encouraged to innovate and develop affordable tech options used for public health.