August 2022


How Juvia’s Place by Chichi Eburu Began

Chichi Eburu redirected her frustration with the beauty industry into a solution cherished by many and brought us Juvia’s Place.

Necessity Spawns Inspiration

Chichi Eburu has searched everywhere — from drug stores to specialty shops, high-end to low-end brands. Nowhere did she see exclusive makeup tones that matched her rich skin hue.

The beauty industry, undoubtedly supported by a diverse set of customers, wasn’t living up to it’s claims of inclusion.

Pride Out of Inadequacy

Chichi grew up in Nigeria. But even there, the beauty messages all around her did not reflect deep skintones.

As a child, she believed she couldn’t be beautiful because when she looked in the mirror her skin tone didn’t match what she saw in beauty industry advertising.

But as she grew into a woman, she began to take to heart the teachings of her mother and aunts. She was a part of a great community and nation. She had a rich heritage.

Upon self-reflection, she began to rethink her feelings of inadequacy and asked herself, “How can I feel beautiful when the beauty industry tells me ‘this isn’t beauty’. They don’t design products to enhance my kind of beauty”.

Rather than focus on the problem, she saw an opportunity for a solution — an inclusive beauty brand.

Chichi Eburu Finds Her Niche

Chichi Eburu knew she had a mountain to climb. The mostly Caucasian-run beauty industry is notoriously monolithic, making it nearly impossible for an outsider to gain a foothold. But Chichi knew that if people could just see that they had a better choice, they would feel drawn to her brand and mission.

She had a dream. But what she didn’t have much of was money. So she needed to think strategically rather than try to take on Big beauty head on. She had the passion and knew she would find a way.

You’ve Got to Start Somewhere

With just $2000, she began making and selling cosmetic applicators to raise money for her future cosmetic line.

With a vision board containing images of great African leaders like Queens Nefertiti and Cleopatra, she stayed focused on her goal as she began working out of her 2-bedroom apartment as her children slept in the next room.

The Birth of Juvia’s Place

She saved up and was ready to launch her first product, an eyeshadow she called “The Nubian”. It was inspired by Nefertiti who graced the packaging.

It was an instant hit, and she used its success to expand her line, creating products for all skin tones from light to dark. She didn’t want to repeat the exclusiveness in the industry that had pushed her to create this line.

“Juvia” is a combination of her children’s names, Juwa and Olivia.

And soon Chichi Eburu’s Juvia’s Place would become a beloved, globally-known Black-owned beauty brand.

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ELSS Mutual Funds A Smart Option To Save Taxes

Investors look for investment possibilities to get consistent returns, build wealth over the long term, and reduce taxes. Although many investment opportunities result in earnings, they are taxed by Income Tax regulations.

An investor can properly save on income taxes by making investments in well-known tax-saving securities. The Equity Linked Savings Scheme, also known as ELSS funds, is one of the best tax-saving options.

What are ELSS Mutual Funds?

Under Section 80C of the Income Tax Act of 1961, an individual or HUF may deduct up to Rs. 1.5 lacs from their total income by investing in an equity-linked savings scheme (ELSS).

As a result, if an individual invested Rs. 50,000 in an ELSS, her total taxable income would be reduced, lowering her tax liability.

The lock-in period for these programs is three years from the date of unit allocation. The units can be redeemed or swapped after the lock-in period has ended. ELSS provides dividend and growth alternatives. Systematic Investment Plans (SIP) are another avenue for investors, and contributions up to 1.5 lakh made in a fiscal year are eligible for tax exemption.

Features of ELSS Funds

Lowest Lock-in Period: When it comes to tax-saving investments, equity-linked savings schemes have the shortest lock-in Period. After a three-year lock-in period, the assets may be revised. ELSS funds may provide a greater return than public provident funds, traditional tax-saving fixed deposits, national pension plans, and others.

Save Tax: Under section 80C of the Act, investments in ELSS funds offer a tax benefit of up to 1.5 lakh. It enables tax savings and higher earnings. Utilizing tax deductions aids you in planning your taxable income.

Investment method: SIP or lump sum investments are both acceptable for ELSS. Rupee cost averaging is available while investing in SIP mode, saving the hassle of making a single large investment. As a result, investing in the SIP method does not feel expensive.

Management of the invested sum: ELSS are managed by experts familiar with market circumstances and aware of market ups and downs. These fund managers are in charge of overseeing all investments made through ELSS.

Tax Treatment In ELSS Funds

One of the most often used strategies for tax planning is equity-linked savings schemes, or ELSS funds, which are mutual funds that save on taxes. Because the returns are based on stock market performance, these funds may produce higher returns than other tax-saving instruments. The majority of ELSS funds’ corpus is typically invested in equity.

Under Section 80C of the Income Tax Act of 1961, you are eligible for an income deduction for ELSS of up to Rs. 1.5 lakh in a fiscal year. This results in tax savings of Rs. 46,800 if you are in the highest income category.

Reasons to invest in ELSS Funds

Pay less and get more

You can claim a deduction and lower your taxable income by up to Rs. 1,50,000 annually under Section 80C of the IT Act.

Trading without money

ELSS investments have the shortest lock-in period of Section 80C investments, at just three years.

Convert into delivery

If you fall under the highest tax bracket and fully utilise Section 80C provisions, investing in ELSS Mutual Funds will help you save up to Rs. 46,800 annually.

Final Thoughts

Investors must evaluate the long-term profits of various schemes before investing because ELSS investments are for the long term. All ELSS plans devote at least 65% of their funds to equity funds and the remaining portion to debt. A decent strategy for choosing an ELSS scheme is to consider the scheme’s historical performance over a five to ten-year period, the consistency of the fund and company, and how long the fund manager has been managing the fund.

Make sure the scheme’s portfolio includes a variety of large, mid, and small-cap stocks since this will allow it to provide positive returns over different market cycles. Plans that invest in various companies and industries are also better able to endure any cyclical market turbulence. For returns greater than any other tax-saving investment strategy, investors must hold their investments for at least five to seven years.

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Avoid These Common Hiring Mistakes

All organizations, regardless of their size, could use a refresher course in hiring. Even experienced human resources professionals will benefit from a few reminders about good hiring practices. No matter how many individuals your organization has hired over the years, bad hires still happen. Perhaps a manager was in a hurry to hire to fill an important opening. Or, your staff hired someone because an employee knew the applicant, and they seemed nice enough. Or, a so-so candidate was hired even though the person doing the hiring knew that they could do better if they only kept looking. And the list goes on.

The accompanying infographic, Are You Making These 7 Hiring Mistakes, presents statistics showing the serious consequences of hiring mistakes. Almost three out of every four employees admit to hiring the wrong person for a position, a figure that is astounding. Considering the time spent in the job search and the financial costs of a wrong hire, that adds up to a whole lot of wasted time and money.

A bad hire is more than a financial mistake. Bad hires negatively impact overall employee morale. Supervisors spend too much time managing employees who cannot perform up to the standards of the job; bad hires may not get along with their coworkers; and employees lose confidence in the ability of those doing the hiring. Bad hires either realize they are a bad fit and leave voluntarily, or they may get fired because they can’t do the job. Either way, you are soon in the position of having to hire all over again.

How can you improve your organization’s hiring process? Follow the infographic’s advice! Don’t skip any of the important steps in the hiring process. Attempting to hire someone quickly may lead your human resources department to neglect pre-employment screening and/or background checks. They may be using templated job descriptions that don’t thoroughly describe the position and your company culture.

Mistakes can be made during the interview process, too. Asking “easy” questions or deciding to hire someone because the interviewer likes them personally can lead to bad hires. Yes, personality is important in getting along in the organization, but it shouldn’t override the ability to perform the job.

The biggest takeaway from the infographic is that taking the time to hire correctly, even if it means a delay in filling the position, is the best way to go. The right candidate will appear at some point, even if you have to re-open the job search process. A little extra time spent in finding the best person overrides the amount of time and money wasted in the future because of a bad hire.

The following infographic was created by a vetting company and should be required reading for anyone in your organization who is involved in the hiring process.

Infographic provided by Global Verification Network, experts on education verification
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How Remittances Boost Global Education Levels

The double whammy of under-education and poverty is not new in developing countries. Many children have no access to school because of their family’s economic situation — some parents cannot afford to send all their children to school, while others are too poor to pay the fees required by public schools. The money sent by relatives working abroad is often the only source to provide children with an education. This article looks at how remittance and money transfer services play a vital role in the education of underprivileged children.

Impact of remittance on education

Education is one of the vital factors in determining a family’s ability to provide for their children, as well as their overall quality of life. In many underdeveloped and developing countries, including the Philippines and Indonesia, education is not free. Families must pay for school supplies and uniforms, which can be expensive. Additionally, families that rely on international bank transfers from family members abroad often use it to pay for education costs.

This money helps provide students with the tools they need to succeed in school and later on in life. Not only does it help them attend school, but it also makes it possible for them to receive more advanced degrees if they choose to pursue higher education later on in life—which can lead to higher-paying jobs and more financial stability overall.

Get reliable international money transfer services for education remittances

You can get the services of a reliable money transfer services provider for your remittance needs. They offer services like wire transfers and online bank transfers. The recipient will receive the money within a day. Avail of our international bank transfer services today.

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