The investment route to becoming rich envisages investing money in various assets in the hope that that they would appreciate in value over time. When you adopt this strategy to become rich, you would need to create an investment portfolio. The investment portfolio is nothing but a collection of the assets that you own or intend to own. These assets would be purchased with the intention of earning money from them through income or to sell them when their value increases. Creating an investment portfolio is not just making a list of assets. It needs to be prepared after a lot of thought and analysis. This portfolio will make you rich and hence you need to put in time and effort to create it.
Let us look at the steps involved in creating a good investment portfolio that can help you become rich.
- Asset allocation
This is by far the most important part of the process of creating an investment portfolio. There are many assets that you can invest in to make you rich. You need to decide which assets you would like to buy and how much money you would like to allocate to each of these assets. The following are some of the assets that you can consider:
Equity represents ownership of a company. It is generally used to refer to stocks or shares of a company that are owned by shareholders. These shares are traded on the stock market and their price varies depending on many factors including company performance, industry performance and the state of the economy. Shares can increase in price by leaps and bounds. This can help you become rich very quickly, provided you pick the right stocks.
Equity is also used to refer to mutual funds and exchange traded funds. These funds are managed by professional fund managers who use investment collected from the public to invest in stocks (and other options too). If you buy mutual funds, you would be indirectly investing in stocks. The difference is that when you buy stocks the decision is yours, whereas in a mutual fund the decision is the fund managers.
Equity carries risk, as the stock market is volatile in nature. However, staying invested over a long period of time helps to reduce the risk. Historically, investment in stocks and mutual funds has yielded good returns over the long term. It is a good way to earn money and be rich. Your investment portfolio must have equity to help you earn more money.
Debt refers to borrowings made by companies or by the Government. When the Govt. or a company is in need of funds, they can borrow money from the public through the use of various debt instruments. Treasury bills, bonds, debentures, and deposits are some of the debt instruments used to raise funds. A company that needs money for a project or for expansion can offer bonds to the public for sale. You can buy these bonds and are assured of getting interest on the money you invested. The company would invest the money raised through bonds for its work and payout regular interest. Once the term or the bond period is complete, you can redeem the bond to get its value in money.
You cannot earn a lot of money from debt instruments. Generally, they would be around the same that you would earn from banks as interest or a little more. The reason why you need to invest in debt is for safety. Investing in government debt instruments offers 100% safety. Investing in private debt has an element of risk. To reduce risk, you need to look at the credit rating of the bonds and buy only those that are rated highly for their safety.
People invest in debt instruments for capital protection, so that the capital you invest will not be depleted. You can also hope to earn a decent return on your investment. Once again, we must point out that the returns you earn here will probably be half or less than half of what you can earn in the stock market. It is safe and hence preferred by many investors. You must include debt instruments in your portfolio.
These are physical assets like gold, silver, diamond, and other precious metals. They may be purchased in the form of bars or in the form of jewelry (where their value is slightly reduced due to processing). Commodities like gold generally rise in value. It is observed that even if the stock market were down, the value of commodities would rise. This is not a certainty, still it is a good investment to help you balance your portfolio.
Apart from buying commodities physically, you can also buy them virtually through the commodities market. Here, apart from metals you can also buy wheat, rubber, oil, and other such commodities in the derivatives market. You would be not buying to own these commodities but would buy futures and options. This is essentially speculating the future price of these commodities to earn money. It is a risky investment but can help you make money. You can consider this only if you have sufficient knowledge about the market.
- Real estate
Real estate involves the purchase of land and buildings. Real estate, just like other assets would increase in value over time. You can buy property today and then sell it at any time when it rises in value. Unlike the stock market, prices will not be volatile. In general, there is a good demand for real estate, and you can expect very good returns over a long term. If there is a fall in the market, then it may take a very long time for prices to pick up again. Unlike other assets, real estate requires a lot of money to invest. This is an asset you can consider for inclusion in your portfolio.
- Alternative investments
This includes investing in assets that are not conventional in nature. This can include investing in artwork like paintings. These investments are usually done by high net worth individuals. Other such investment options include bitcoins and hedge funds. These can potentially earn you huge returns but are highly risky in nature. They are meant for investors who have sufficient knowledge of these assets.
- Retirement fund
There are some experts who say that a retirement fund is not actually an asset. However, saving money for retirement is one way to become rich. Your employer may offer a retirement plan by which money is deducted from your pay every month and transferred to a retirement fund. The fund would invest your money in the stock market, debt instruments and other options of your choice. By the time you retire, the fund would have grown in value and would help you generate money for your retirement needs. Apart from what the employer provides, there are other retirement accounts or retirement plans that you can consider during the process of creating an investment portfolio.
- Understand your risk
Now that you have understood the different types of assets, where you can invest money, you need to understand about risk. In simple terms, risk is the possibility of your assets losing value. From the above assets, debt instruments have very low risk, especially instruments backed by the government, which have zero risks. All other assets have varying levels of risks. Stocks are risky; but when held over a long period of time can lead to a reduction in risk. Bitcoins and derivatives are very risky. To create a portfolio, you need to understand your risk tolerance.
Risk tolerance is how much risk you can tolerate. If you are not ready to tolerate any risk, then you must invest 100% of your portfolio in debt instruments, and only in government backed debt instruments. The returns you earn here will be less, but there is no risk. If you ready to take a little risk, you can invest in private debt instruments. The higher the risk you are ready to tolerate, the more diverse your portfolio can be. Based on how much risk you are ready to tolerate; you can be classified as:
- Aggressive investor: is ready to take more risk. If you are in this category, you can invest more money in stocks and in real estate and derivatives.
- Balanced investor: is one who is willing to take a risk in return for reward. However, this type of investor would want to invest some money in safe options to balance the possibility of losses from aggressive investments.
- Conservative investor: This investor is more interested in protecting capital and would be willing to take low levels of risks by investing little money in stock/real estate.
- Safe investor: is one who is not ready to take any risk and is happy investing all the money in debt instruments.
- Create your portfolio
Having understood the types of assets and risks, it is now time to allocate money for assets and create a portfolio. If you are confused about the process, you can meet a financial advisor who can help you understand your risk tolerance and then advise you on how to allocate assets. If you are confident that you can do it on your own, then you can consider the ‘100 minus age’ rule. This rule states that you should invest 100-your age in equities. If you are 30 years old, you can invest 70% of your money in stocks and mutual funds and the rest in debt instruments. This is just a thumb rule; you can follow the pattern of investment that suits you.
Before you start allocating assets, you need to identify your investment goals. You are investing money to become rich; but how much money do you need? When do you need the money and what for purpose? The answers to these questions would help you decide your investment goals. For instance, you may need 100,000 in five years to buy a new house. This could be one investment goal. You may need a million in 25 years for your retirement. This could be another investment goal. Here, you can consider your retirement plan and also invest additionally to meet your target.
When you carry out asset allocation, you need to keep an important principle in mind, which is asset diversification. Diversification is spreading assets across different types to reduce risks. For instance, your asset allocation may look something like this:
- Real estate – 100,000
- Stocks – 100,000
- Large cap stocks – 50,000
- Mid cap stocks – 20,000
- Technology stocks – 20,000
- Small cap stocks – 10,000
- Debt – 30,000
- Bonds – 20,000
- Bank deposit – 10,000
This is an example of a diversified portfolio. You are investing in different types of assets and within each asset, you are further diversifying. When you buy stocks, you can invest in large cap funds of top companies that are usually safe. You can invest in mid cap funds that can be volatile but can earn you more returns. Since technology is popular, you can invest some money to buy stocks of technology companies. Small cap funds are low cost stock investments where you can gain huge returns or lose a lot of money. Diversifying your investment creates a balanced portfolio where the risk is reduced.
- Start investing
Once you create the portfolio, you can then start investing. For this, you may need to open a brokerage account to buy stocks/mutual funds. Make sure you stick to the portfolio you have created and invest money as per your plan. Periodically, you may need to rebalance your portfolio. This is required to remove assets that are deadwood and is not generating returns. You can replace such assets with better ones.
When you create an investment portfolio wisely, you can look forward to earning money from it and becoming rich. Some of the investment types like real estate can generate regular rent. Similarly, stocks can generate dividend. It would be better to reinvest this money to buy more assets. This will help you earn more money, to achieve your goal of becoming rich.
The 2020 Outbound Email Data Breach Report Finds Growing Email Volumes and Stressed Employees are Causing Rising Breach Risk
Research by Egress reveals organisations suffer outbound email data breaches approximately every 12 working hours
Egress, the leading provider of human layer data security solutions, today released their 2020 Outbound Email Data Breach Report, which highlights the true scale of data security risks related to email use. 93% of IT leaders surveyed said that their organisation had suffered data breaches through outbound email in the last 12 months. On average, the survey found, an email data breach happens approximately every 12 working hours.*
Rising outbound email volumes due to COVID-19-related remote working and the digitisation of manual processes are also contributing to escalating risk. 94% of respondents reported an increase in email traffic since the onset of COVID-19 and 70% believe that working remotely increases the risk of sensitive data being put at risk from outbound email data breaches.
The study, independently conducted by Arlington Research on behalf of Egress, interviewed 538 senior managers responsible for IT security in the UK and US across vertical sectors including financial services, healthcare, banking and legal.
Key insights from respondents include:
· 93% had experienced data breaches via outbound email in the past 12 months
· Organisations reported at least an average of 180 incidents per year when sensitive data was put at risk, equating to approximately one every 12 working hours
· The most common breach types were replying to spear-phishing emails (80%); emails sent to the wrong recipients (80%); incorrect file attachments (80%)
· 62% rely on people-led reporting to identify outbound email data breaches
· 94% of surveyed organisations have seen outbound email volume increase during COVID-19. 68% say they have seen increases of between 26 and 75%
· 70% believe that remote working raises the risk of sensitive data being put at risk from outbound email data breaches
When asked to identify the root cause of their organisation’s most serious breach incident in the past year, the most common factor was “an employee being tired or stressed”. The second most cited factor was “remote working”. In terms of the impact of the most serious breach incident, on an individual-level, employees received a formal warning in 46% of incidents, were fired in 27% and legal action was brought against them in 28%. At an organisational-level, 33% said it had caused financial damage and more than one-quarter said it had led to an investigation by a regulatory body.
Traditional email security tools are not solving this problem
The research also found that 16% of those surveyed had no technology in place to protect data shared by outbound email. Where technology was deployed, its adoption was patchy: 38% have Data Loss Prevention (DLP) tools in place, while 44% have message level encryption and 45% have password protection for sensitive documents. However, the study also found that, in one-third of the most serious breaches suffered, employees had not made use of the technology provided to prevent the breach.
Egress CEO Tony Pepper comments: “Unfortunately, legacy email security tools and the native controls within email environments, such as Outlook for Microsoft 365, are unable to mitigate the outbound email security risks that modern organisations face today. They rely on static rules or user-led decisions and are unable to learn from individual employees’ behaviour patterns. This means they can’t detect any abnormal changes that put data at risk – such as Outlook autocomplete suggesting the wrong recipient and a tired employee adding them to an email.”
“This problem is only going to get worse with increased remote working and higher email volumes creating prime conditions for outbound email data breaches of a type that traditional DLP tools simply cannot handle. Instead, organisations need intelligent technologies, like machine learning, to create a contextual understanding of individual users that spots errors such as wrong recipients, incorrect file attachments or responses to phishing emails, and alerts the user before they make a mistake.”
Organisations still cannot paint a full picture of the risks, relying on people-led reporting to identify email breaches, despite severe repercussions
When an outbound email data breach happens, IT leaders were most likely to find out about it from employees. 20% said they would be alerted by the email recipient, 18% felt another employee would report it, while 24% said the employee who sent the email would disclose their error. However, given the penalties that respondents said were in place for employees who cause a breach, it is not guaranteed that they will be keen to own up, especially if the incident is serious. 46% said that the employee who caused a breach was given a formal warning, while legal action was taken in 28% of cases. In 27% of serious breach cases, respondents said the employee responsible was fired.
Tony Pepper comments: “Relying on tired, stressed employees to notice a mistake and then report themselves or a colleague when a breach happens is unrealistic, especially given the repercussions they will face. With all the factors at play in people-led data breach reporting, we often find organisations are experiencing 10 times the number of incidents than their aware of. It’s imperative that we build a culture where workers are supported and protected against outbound email breach risk with technology that adapts to the pressures they face and stops them from making simple mistakes in the first place. As workers get used to more regular remote working and reliance on email continues to grow, organisations need to step up to safeguard both employees and data from rising breach risk.”
Creating an engaging email marketing campaign that avoids the junk folder
By David Wharram, CEO of Coast Digital
With more than 280 billion emails sent every day, email marketing is a tried and tested marketing method with a multitude of benefits. In addition to resonating with those looking to save on their marketing spend, email marketing generates significant ROI for businesses. Statistics have shown that email marketing significantly outperforms social media when trying to reach customers, while also proving more cost-effective. Additionally, Mckinsey found that email marketing is 40 times more successful at gaining customers than Twitter and Facebook combined.
As business owners digest these facts – low cost, high return – it can be tempting to plan a barrage of untargeted marketing emails to both prospective and existing customers. Yet, this “spray and pray” approach may not generate as many sales leads as you’d hope. In fact, this method often tends to deter prospective customers and impact the relationship with existing clients, resulting in your emails consistently making their way into the junk folder. The key to a successful email marketing campaign is investing in the right tools to plan, automate, track, and analyse your outreach.
Like other marketing channels, email marketing takes effective planning and the right strategy to make it work. Rather than trying to sell a product or service from the outset, you need to engage with the customer and build trust with them first. To do this, you need to consider who the customer is, how to reach them and what information they are likely to want. For example, returning customers will be much more receptive to an email presenting discounts and timed offers. However, new or prospective customers would most likely prefer to familiarise themselves with your businesses first in order to understand how your product or service will benefit them.
Not only do you need to identify different audiences and identify how to engage them, but you should also consider the frequency of communication. Too often, and your emails could appear as spam. Too irregular and there’s a risk the customer might forget about you or turn to a competitor.
A crucial part of planning the overall strategy is considering the ideal outcome. Whether this is to attract new customers, send product or service updates, or retain customers through offers and discounts, the objective will determine the scope of the entire campaign.
The results of a well thought out email marketing strategy can drive brand awareness, boost lead generation and increase revenue. The results of a poorly planned strategy often lead to disgruntled recipients and a high number of unsubscribes.
Keep content relevant, personal and useful
In addition to planning the overall strategy of your campaign, you need to consider the content you will push out to your audience. From our experience, this will largely depend on which goals have been determined during the planning process.
It’s essential to ensure you’re providing something of value. While you want to make sure that your email marketing campaigns generate ROI, you also need to make the recipients feel that they’re not always being sold to. The key to this is by building a level of trust with the audience, which can be achieved by providing relevant advice and insights, or by asking for feedback.
Additionally, audiences are more receptive to content that is personal to them. It’s easy to spot a generic email that has been created to cover all bases for an entire mailing list. Therefore, making the emails more personalised to recipients tends to strengthen the overall campaign.
According to recent research by Econsultancy, personalisation remains a top priority for marketers as 67% of those asked said that was the main focus for improving their campaigns. Also, a study by Salesforce found that 84% of consumers prefer to be treated like a person not a number. That’s why taking the time to make content more relevant to the receiver could make or break the campaign.
Evaluate and evolve
Once your initial outreach has been complete, you need to take the time to reflect on your efforts. One aspect of the planning process should include setting clear metrics and KPIs so that you can be clear on whether these were met or not. There are several metrics that businesses should consider when it comes to the success of their campaign – including clickthrough rate, conversion rate, bounce rate and email forwarding rate. Each KPI will depend on the overall goal. Companies need to invest in the right tools and resources to evaluate email marketing campaigns, especially if this is new territory. Measuring the success of your outreach will enable you to determine what worked well, what needs refining or what needs to be completely overhauled. What’s more, if the initial campaign didn’t generate the outcome you were hoping, don’t be deterred from using email marketing altogether and instead use it as an opportunity to learn and improve.
Email marketing remains one of the most effective methods to engage with your audience on an ongoing basis. However, far too many businesses try to run before they walk and could be spamming their customers with irrelevant, uninteresting content. To ensure your outreach is successful, you need to effectively plan your outreach – considering your audience and delivering helpful and engaging content to them will help your emails avoid the dreaded junk folder.
How to communicate when the world is in crisis
By Callum Jackson Account Executive at communications agency Cicero/AMO
Across sectors both private and public, the coronavirus crisis has brought with it a list of overused yet unavoidable tropes. Phrases such as ‘rapidly changing times’, ‘the new normal’ and the king of COVID clichés ‘unprecedented’ have been deployed by communications experts of all ilks to engage audiences, linking their products and businesses to the pandemic however they can. In fact, amongst online news articles from January to September this year, ‘unprecedented’ received about six times more column space than over the same period in 2019. The financial services sector is far from immune – a quick scan of the 21.9 million Google results which the search term “unprecedented banking covid” throws up reveals a distinct preference for the platitudinal over the insightful.
But as often as this is said, it bears repeating: communication plays a central role in all of our lives and all of our businesses. In the banking and financial services sector, one PR misstep can mean the difference between an investment round succeeding or failing, between a challenger being awarded its coveted banking licence or having its reputation demolished, between a fintech app appearing on every other smart phone in the country or dying an obscure death.
While communication is vital, however, it is not a straightforward science or art at the best of times. Below are some key approaches for comms professionals to consider taking when communicating during a crisis.
- Start with the bank in the mirror
In all sub-sectors of the comms industry, from in-house external comms to agency PR and everything in between, inauthenticity stands out like a sore thumb, and badly thought-through messaging or imagery can reek of it. Take Pepsi’s heavily pilloried 2017 ad campaign featuring Kendall Jenner, the imagery of which attempted to position the soft drink – and the business producing it – as a saviour of divided and oppressed communities. Accused of seeking to capitalise on the Black Lives Matter movement, Pepsi rightly pulled the commercial and apologised for missing the mark entirely. Interrogating what your business stands for, what it does well, what its goals are and, most importantly, what it is not in the business of (in the case of Pepsi, saving the world) is essential to communicating with your stakeholders authentically. This has been conventional wisdom amongst banking and finance grandees for a while. In 2015, Tesco Bank’s then CEO Benny Higgins noted, “Authenticity [is critical] – we all have strengths and weaknesses but being authentic gives a consistent notion of what your leadership is about.” By all means, talk about doing good but make sure it’s good you’re actually doing.
- Read the room
Being aware of your audiences’ needs is two-fold. First, it is about identifying the topics that consumers of news (be they your customers, your suppliers or the general public) want and need to hear about, and secondly, it’s about being sensitive to audiences’ anxieties and preoccupations. Our current environment is characterised by companies asking staff to take pay cuts, having furloughed others at 80% of their salary, all while social distancing or staying home. During these – yes, unprecedented… – anxiety-inducing times, money saving advice, working from home tips, and information on the best cost-saving financial products are subjects of interest and necessity to journalists and readers. Listicles of the best luxury summer getaways are not. Think about what your business or client is doing that might directly help those who are worst affected and use that as a springboard for your communications messaging.
- Look ahead
In late 2019, few of us could have foreseen the sheer magnitude of a potential pandemic, nor indeed its short-term and residual effects on the economy, society, and individual financial institutions. However, as professionals in charge not only of spreading the good news but also of putting out reputational fires, it is the duty of financial services PRs to game various scenarios – sorted by likelihood and impact – pre-empting possible outcomes and preparing for the negative fallout as well as the positive opportunities a situation might present. Looking ahead to identify these ‘opportunities’ is not per se a cynical attempt to boost business reputations or commercial outcomes. It can and should involve looking ahead to ascertain the potential silver linings, gifts in disguise, and diamonds in the rough that come along with a crisis. One unforeseen consequence of the COVID-19 pandemic has been a reminder of the warmth, appreciation and even love we feel towards the frontline workers of the NHS. If yours is the company that finances the manufacture of their uniforms, insures the production of their machinery, or invests on behalf of the factory that makes their PPE, you should be proud of that and should let others be proud too. All this requires
foresight, however – the ability to identify both the risks and opportunities of a dire situation.
- Adapt your offering
Shouting from the rooftops about something you do well, especially when it has a net good impact on the world, is nothing to be ashamed of. In fact, a surprising number of businesses are actually quite bad at telling us what’s good about them – particularly those that need to the most: banks. Cue the PR professional. But that quality of self-promotion – not in the sneering, braggartly sort of way; but rather the recognition that telling your story is how people get to know you – only stands up when what you’re promoting really is good, both morally and commercially speaking. If you are planning a campaign showing that your customer, The Big Bad Oil & Gas Company Ltd., is doing wonders for the planet, it had better be investing heavily in wind and solar, offsetting its carbon output and cleaning up natural areas affected by its commercial activities, and not just paying lip service to environmental conscientiousness. And if your customer or your own business isn’t doing those things, it is time to re-evaluate the corporate strategy. Too many heads of comms are cautious of recommending product and operational changes that require significant investment for fear of CEOs’ eyes rolling back into their heads with ‘dollar shock’. But if you want to be known for doing something good, you had better do it well.
- Take advantage of digital
It comes as no surprise that shares in videoconferencing services such as Zoom (NASDAQ: ZM) just about doubled between late January and mid-April (up to $142.80 from $70.44). As demand for online services increases due to prolonged social distancing and isolation measures, so too does the need for journalists, and therefore PRs, to produce quality digital content that speaks the language of technology. Rather than asking how your logo will change or about the latest appointment to your board, media and the audiences that read them are increasingly asking, ‘How does your company’s offering help us do business, manage our money, or lead better lives by harnessing smart data, open finance, AI, etc.?’ Or more generally, ‘How can I do all the things I’m used to doing and need to do without leaving my house?’ Most banks provide online banking, most insurers allow digital policy purchases and claims, most lenders enable virtual applications or use digital ID to confirm affordability and suitability. If your business is lagging behind, it’s time to catch up.
- Put a relevant twist on business as usual
“Well, our business doesn’t do anything to do with viruses,” is a natural reaction to a crisis that no one saw coming and that stands to affect the global economy in a meaningful way for years to come. But, as well as being natural, it is also limiting. Thinking creatively about the ways our product offerings and operations do, in some way, affect the outcome of a crisis does not have to extend to preventing the spread of a disease or accelerating the creation of a vaccine. It may be that your lending platform can offer mortgage holidays for those financially impacted by the pandemic or that the insurer you work for can interpret policies leniently and with compassion – especially important in light of the FCA’s recent finding on business interruption insurance. Showing your worth in a crisis does not require you to be a central cog in the machine, nor does it require you to dominate the narrative in order to have cut-through. Do your bit, however small, and then tell us about it.
Being alive to developments in politics, society, culture, science and business, and remaining nimble and ready to adapt to those developments sensitively are the cornerstones of good communications. The ancient Greeks knew this before we did; it was no storytelling accident that Olympus’ divine messenger, Hermes, wore winged sandals. The metaphor may be ham-fisted, but the sentiment is sound: sensitivity, fleet-footedness and boldness are the communicator’s greatest weapons. Don’t be a Pepsi, be a Hermes.
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