In the world of personal finance, there are basically two camps: the anti-debt camp and the pro-debt camp. The anti-debt camp believes that all debt is bad. Period. No exceptions. Pay in cash or go without. The pro-debt camp believes that carrying some debt is a good thing and can be beneficial later on. What these warring camps don’t seem to realize is that each strategy works, depending on which life stage of life your in.
The simple fact is that very few of us are able to save up enough money to pay cash for everything. The cost of home ownership, for example, would be unattainable for everybody who is not already in the top tax bracket. And if you want to be able to finance a home or start your own business, you need to prove that you can handle debt responsibly. To do this you need to build your credit.
There are a lot of great ways to build your credit and, by extension, improve your personal finance situation. Here are some of our favorites.
Avoid PayDay Loans
Seriously. Payday loans are a trap that is designed to keep you indebted to the lender for as long as possible. If you find yourself in an emergency situation and don’t have cash to cover it, the lure of the payday lender can be incredibly tempting. Taking out a payday loan will just wreck your current financial situation, which, in turn, will wreck your credit as you take out one loan to pay off another, etc.
Here is the good news. Many financiers have gotten hip to the fact that borrowers view payday loans as predatory mistakes best avoided and have been working to create alternatives to payday loans. These are personal loans that you can pay back in installments over a few months or even a year. They can help you out in a pinch without miring you in interest rates three figures deep. If you’re facing an emergency, look for these lenders.
If you’re new to credit or need to rebuild your credit, one of the best ways to do this is with a secured credit card that you get through your bank. These are lines of credit that you essentially finance for yourself. You put some money down and that amount becomes your credit limit. If you default on the card you lose that down payment. If, however, you pay off your purchases quickly and on time, eventually that card may be turned into an unsecured loan with a higher limit.
A good rule of thumb is to try to keep your credit balance under 60 percent of your limit. For example, if your credit limit is $900, don’t allow the balance to ever go over $600. Credit bureaus factor in your used/available credit ratio when they figure out your score. You always want to have as much credit available.
Taking out a small personal loan is another good way to build credit and prove that you can handle debt responsibly. These loans usually start at a few thousand dollars so they won’t necessarily buy you something super extravagant, but they are a great way to consolidate existing debts and bills to make them easier to manage. This is probably the most popular reason people take out personal loans. You can use your loan for pretty much whatever you want, just make sure that you will be able to pay it off within the contracted length of time (usually 3-5 years). Don’t assume you’ll make more money in the future. Base your loan amount on what you earn right now.
There is a new form of credit building/rebuilding called the credit building loan. Essentially what these loans are, are savings accounts. You pay a specific amount into the account every month and then at the end of the account’s term, you get all that money in a single lump. As you make these payments toward your goal, the payments get reported to the credit bureaus. This allows you to build up a positive repayment history which can have a huge impact on your credit score. This tool is especially helpful for people who have already tanked their credit and need to rebuild.
The basic truth is this: if you want lenders to trust you, you need to prove that you can handle debt. The only way to prove that you can handle debt is to carry some debt and pay it off responsibly. Without this history of responsibility, you’ll be stuck simply saving over and over again as you work toward your goals. Saving is good, but it shouldn’t be your only resource.
As a beginner in online trading, you have a plethora of trading options to utilize. While some people opt for short term trading options, others have a goal of making huge profits by taking advantage of long term trading strategies.
Like any life endeavor, each type of trading option has its own pros and cons and the strategy/option you opt for depends on several factors, including the funds available, research methodologies you plan to use, and the willingness to take and accept certain risks. Without much ado, here is an overview of a few trading options that CMC Markets recommend for beginners:
This is primarily a short term trading strategy which involves buying and selling securities on the same day. In the past, this trading option was mainly left to professionals. In the recent years, owing to advancement in technology and the emergence of a variety of online trading platforms, even novice traders can trade these types of securities profitably.
So if you are just starting to get your feet wet by investing small amounts in a single day, this is the trading option that suits you. The experience that you will gain from buying and selling every single day will be very useful in future when you decide to trader with larger sums of money.
Unlike day trading, this is long term trading where you buy and hold securities for longer durations—it involves keeping securities for several days, weeks, or even months. The decision to trade—buy or sell securities—is normally shaped by extensive research on market trends. As a trader, you will be buying at the beginning of a trend and selling when the trend reaches its peak.
This trading option is suitable for traders with access to accurate facts and who can quickly identify an emerging trend. Most traders who prefer this trading option often take action when a trend starts to emerge or gather moment and sell when a trend reaches or is at its peak. So it’s important to have accurate data to be in a better position to predict when to sell or buy.
This is a type of trading that takes advantage of the swings in security prices that takes place at certain stages of a particular trend period. Depending on the data and research done for every security, traders who opt for this option strive to predict highs and lows during a trend. Unlike day trading, this trading option involves keeping trades for longer duration (more than a day) to maximise your gains when a predicted trend gains momentum.
By and large, swing trading majorly depends on your judgment and accuracy of the research and data that you base your decision on. If you can carry meticulous research and analyse market data accurately, this trading option is a potentially lucrative opportunity to profit from the volatility that occurs at different stages of a market trend.
This trading method involves taking advantage of the gaps that exist as result of bidding and asking spreads as well as order flows. You profit by selling securities at asking prices that are higher than the buying price or spread of the security in question. Because it is a short term trading strategy, it reduces the risks that you take as a trader. Generally, this type of trade involves smaller amounts and subsequently small profits per trade.
Online CFD trading
CFD’s allow you to speculate the price movements or changes of different types of stocks in the market. When trading CFD products, you simply buy the right to speculate on the market price changes of a stock but you don’t own the stock. Although there are high risks involved in CFD trading, the results are worth the risk.
Today, there are many trading options that you can exploit. The increased access to internet and the availability of a variety of trading platforms makes it easier for both experts and beginners to start trading from any location and at any time of the day. Provided that you identify the trading option that suits your lifestyle and the benefits that you stand to gain, you can start investing right away.
If you are don’t like the idea of taking risks but still want to invest, you should know that risk-free investments are as non-existent as safe high-risk investments. Every investment comes with risk. It’s a question of just how risky it is. If you fear the outcome investigate low-risk investment options.
Can you Earn Money From Low-Risk Investments?
One of the most important benefits of low-risk investments is that the losses are typically not as significant as high-risk investment. Keeping your money in a low interest bank account will not yield as much as a low-risk investment. While low-risk investment is not going to fetch you a fortune, you will not typically lose yours either.
Here are some of the best low-risk investment options:
- Certificates of deposits
- Money market funds
- Government funds
Some people believe in using loans as a means to attain money for investments. To do this you must make certain that you can earn a higher rate of return then the interest on your loan. You also need to ensure that the bad credit loan term does not end before the term of your investment.
How To Maximize Your Benefits
Beginners and long time investors can make mistakes. Don’t learn the hard way. Look for low risk investments that are safe and trustworthy.
1) Know Your Tolerance For Risk
A simply online survey can assess your tolerance for risk. Tolerance refers to your ability to withstand a particular level of loss. How comfortable are you losing money when the market takes dips? Would you prefer a smaller rate of return, but a nearly guaranteed return on your investment?
Risk tolerance depends on the following:
- Level of income or financial stability
- Prospects of growth in monthly income
- Financial demands, if any, in the near future
- Financial goals
2) Importance of Long Term Goals
As an investor you must exhibit patience. Markets will rise and fall and your investments will be impacted both positively and negatively. Whichever way you are impacted it is best to hold on to the investment for the long term.
3) Bond With The Best Bonds
Bonds are always a recommended part of an investment portfolio. Your choice of bond depends on your needs. These bonds are relatively safe and won’t make you lose much sleep.
- Treasury Bonds: Treasury bonds have minimal returns, but you have very little to worry about when holding them. An added advantage is that the interest you receive from treasury bonds are exempt from income tax.
- Savings Bonds: If you can keep your hands off your money for at least a year consider investing in savings bonds. Savings bonds have a fixed interest rate so you have a clear picture of how much money you will earn when the term ends. The downside to this investment is losing out on bigger returns if the interest rate rises while you are holding on to them.
As the famous saying goes “Don’t put all your eggs in one basket.” Make certain to diversify your investments. This is one of the best and easiest ways to minimize risk. Diversification is one of the must-learn and must-follow rules of investment. Here is how to diversify your investment.
- Rather than investing in one company consider investing in mutual funds. If you want to invest in individual stocks do not own too much of one.
- Investing in various sectors help minimize risk of loss. If you invest only in one sector and it suffers a crisis, your financial status may suffer.
- One of the best ways to diversify is to have bonds, stocks, fixed assets and cash in your investment portfolio. Bonds can provide regular income while stocks can rise in value.
While diversifying brings in benefits, if you plan on a low risk investment, you need to take into account the trading fees you may be charged for each investment.
5) Know When to Fold
Don’t hold investments forever. If you receive a comfortable gain consider selling while the stock is high. Sometimes when you hold too long you watch the value rise and then fall back down. When that happens your profits go down with it. Keep an eye on your investments and know when the stock is falling. Don’t wait for it to bottom out hoping that it will eventually climb higher again.
The market has its ups and downs. There may come times when you are happy you sold a stock for a profit and other times where you will watch it rise after you sold it.
Don’t try to time the market. Invest small amounts of money repeatedly over a long period of time. That is the best strategy of all.
What makes a good investor? Is it a massive portfolio? We don’t think so. Too many opened trading positions can lead to a total failure. Is it big initial capital? Of course not! There is something else that is common to all successful XTrade Europe online traders; the ability to find great investing opportunities in almost every situation. This is the difference between great and average investors.
Finding New Opportunities
So, the first thing that every online trader should do is to sharpen this skill of finding new opportunities at different paces, regardless of whether we talk about the presidential elections, oil policy or even sport games. The Olympic Games in Rio are the perfect example. Almost all big investors and XTrade Europe speculators are there (not physically, of course). After all, what would be a better business opportunity than the biggest sport event on the planet?
Here is one example. Let’s look at what happens with the Dow Jones Industrial Average (DJIA) index during the Olympics. Fortunately, we can use research published by Bespoke Investment Group to find out. What did this research show? It showed that DJIA just “loves” the Olympics! From the 1900 to present days, the rate of return of the DJIA was approximately four percent during Games, which is fantastic.
Huge Investments Mean More Opportunities
Of course, all these countries had to spend billions for stadiums, hotels, infrastructure, but these investments brought them a big return. All these countries, especially cities, literately exploded before and after the Games. Why do countries compete to be hosts to world’s sportsmen and national teams? It is not because they like sports more than anything else. It is not because they want to show their great hospitality or rich culture. It is because of the money. Yes, the money is the energy that moves things forward. Just visit some of these cities and you will see the “remains” of the Olympic Games at every corner. And of course, where there is a chance to earn, investors from XTrade Europe and other big groups will be there to make a profit.
After this, we can be more than sure that the Olympics have a great effect on the economy, especially on the economy of the hosted countries. Of course, every rule has exceptions. In this case, the exemption is the Olympics held in Sidney (2008), where the market went down almost two percent. This “catastrophe” was not caused by the Games, but by a huge mortgage crisis that was active at that time.
Here is the advice that every XTrade Europe investor should follow if he or she wants to remain successful in this business: Don’t observe the Olympic Games just as ordinary sport competition, but also as a great business opportunity. Economies of the hosted countries grow almost without exception during this period. Use this information to improve your trading situation. All good investors are already in their positions, waiting with their eyes wide open. What is your strategy? Do you have one at all? If not, make sure you have one before next Olympic Games. Four years will pass quickly.
Book Description for Bossy Flossy:
Flossy is the bossiest girl around. She’s bossy at home and she’s bossy in school. She’s bossy to her friends and she’s bossy to her cat. Sometimes she’s even bossy to her teacher! Flossy doesn’t understand why no one will listen to her. One day, Flossy meets Edward, a boy who may be just as bossy as she is. Has Flossy finally met her match?
Buy the Book:
My four-year-old son and I read this book one afternoon cuddled up on the living room couch. My son is not bossy or rude, but he really enjoyed how the characters misbehaved in this book. In fact, he asked me to read it to him repeatedly. The main character in the book Bossy Flossy is quite rude to everyone she knows. She tells her mother, teacher and friends what to do and how to act and feels quite disgruntled when they fail to heed her words. In fact, she is a bit flippant when she is punished for bossing others around. My son never behaves in this manner, so I was surprised by how much he enjoyed reading about characters that boss each other around.
This might be a good book for a child who is bossy, but I’m not sure what message it might give to a child who is not. I suppose it is a good way to introduce the subject to him in case he meets a friend in school or on the playground who is acting similarly.
If you have a child with behavioral issues, most specifically one that is bossy, then this book might be a perfect way to create an open forum to discuss these problems. I can imagine talking about the characters, their actions and ultimately how they come together to change their behaviors. In the end, there are two bossy characters, which would also teach children that they are not alone in their actions and ultimately these two characters need each other to change their ways.
Paulette Bogan admits she was bossy as a child. She is the author and illustrator ofVirgil & Owen, which was chosen as one of Bank Street Best Children’s books of the Year 2016, Virgil & Owen Stick Together, which won a Mom’s Choice Award Gold Medal for Picture Books, and Lulu The Big Little Chick, which won a Children’s Choice Book Award. She lives in New York City with her husband, three daughters, and two dogs. They ALL think she is STILL bossy. But they’ve never told her to go to her room!
New college students often face financial problems as they lack the knowledge to create proper budgets and also have very small incomes. If you are a college student looking for the knowledge to manage your money read the tips below for guidance on saving, spending and more. There is no better time to become financially educated then right now!
After you leave home you may be tempted to spend money in ways you never dreamed of before. Be careful because without proper planning you will broke by the beginning of the first semester. If you create a reasonable budget you will have the opportunity to save your money for vacations, new gadgets or Christmas shopping!
- Think carefully before applying for a loan. Do not take out loans without carefully considering all of your options. Some people take out a lot loans and quickly begin to think of this option as easy money. If you aren’t careful this trend may even become a habit you can’t quit.
- Save. Always put aside some money for “a rainy day”. It’s nice to know that you have money in the bank when you need it. What if you require medication, car repairs or anything else? Consider putting your cash in a box that is hard to access. Put some cash in there every day and don’t allow yourself to take it out until the month is over.
- Pay bills on time!
- Surround yourself with frugal friends. Focus on individuals who can have a good time without spending a lot of money. Some of your friends will have parents who subsidize them. Don’t let yourself follow the pack by paying for things that you cannot afford. Make sure to speak up when you do not have the money for an activity or meal. It is not worth going into debt for these items.
- Try to buy only second-hand books. The quality of your studies will not suffer and you will save yourself a significant amount of money.
- Consider alternatives to driving whenever possible. Use bicycles on short distances or walk to your desired location.
- Try to find a part-time job that will not interfere with your studies.This will bring you additional income and might help you land a better job once school is over.
- Spend less than you make. This is the golden rule of money management and one that you should continue for the rest of your life.
- If you perform well at your job you may get a promotion or at the very least good tips from your customers.
- Restrain yourself from making impulse decisions. Weigh all pros and cons, consider your academic progress and after that decide whether you really need the item you wish to buy.
- Wait 24 hours before buying something. When you wake the next morning ask yourself if you still want the item you previously wished to buy.
Take care of yourself
Believe it or not being fit and healthy means a lot in terms of money spending.
- You may sometimes feel overwhelmed with class assignments and personal dramas. You can make your life easier by using a custom writing service and downloading online applications.
- Play sports. It will keep you strong and healthy and will boost your immune system.
- Do not smoke or drink alcohol excessively. Bad habits shorten your life and bring problems to your liver, lungs and heart.
- Eat healthy! Stay away from junk food and favor vegetables, fruit, meat and greenery instead! Your stomach will thank you.
A lot of people dream about traveling to coveted places for more than just a week of vacation. It would be absolutely amazing to lie by the beach, enjoy hot sunny days with a mojito in hand and manage to make money online all at the same time! Some think it is impossible while others go ahead and make their dreams come true. We have prepared five travel jobs to help you earn extra money while traveling. Who knows, if you choose one of these options you might get to see the world and simultaneously fill your bank account with money!
- Travel Guide
Being a travel guide is not easy, of course, as you may need to be the leader of a large group of people. The perk to this job is lots of free time to explore nearby areas. But again, remember that guides usually work in the same place all the time with a very rare possibility to move to another city. If you are a tour guide in Prague you will most likely only be able to visit cities that are close to Prague so your overall travel may be limited.
Freelancing is a great way to work in any part of the globe. All you need is an Internet connection. You may be lying on the beach or climbing Mt. Everest, but you will always have an opportunity to make money. Copyrighting may be a good option for you, (many professional essay writers from Edubirdie are working this way), a designer, translator, etc. The drawback is you need to be a self-motivator and remain focused on your assignments. It can also be difficult to collect payment as customers can be unreliable.
If you like to write consider creating your own blog. Choose a particular topic that you know a lot about. Make sure you choose one that will interest your target audience. Learn SEO tricks to make your blog popular and to gain a lot of traffic. When you are done, sell services to other websites ( links, comments, commercial ad etc). Some websites make thousands of dollars each month!
Fond of IT sphere? Why not try to be a programmer? Lots of companies are in need of good programmers. You can create many applications and specified tools for their companies. You may do that anywhere you wish. Some developers claim to earn thousands of dollars for just a few hours of work each day. How much you earn depends on your skills and how much you are willing to work!
There are so many services, websites and enterprises that desperately need quality photos on diverse subject matter like food and landscapes. Some people need images of specific locations like the beaches of Thailand or the bars of Barcelona. There are photobanks where you can upload your photos and earn money. You may also capture photos of people, emotions, landscapes and buildings or make seasonal photosets for Christmas, New Year’s Eve, Thanksgiving and other traditional holidays.
There is no impossible in the world! Just think positive and never give up!
Research suggests that only 10% of consumers performed their Christmas shopping in stores last year, which implies that 90% of consumers trust online shopping and made it their preferred method for gathering Christmas gifts and other holiday related supplies. Online transactions don’t stop at shopping, and with online gaming and betting becoming increasingly popular, thousands of bank details are being confidently shared via the Internet each day.
While most transactions are legitimate some do result in online fraud via insecure payment methods. How can you ensure that your online activities are protected? Here are a few things to consider.
Stay Away from Suspicious Sites and Applications
Steer clear of websites that do not look professional especially those that constantly inundate you with annoying pop-up ads. Instead use well-known retailers and reputable companies. If you happen to wind up on a lesser-known site make certain to research it and ask your friends or social media for further information.
Trusted Sites Give You Information
Reputable sites provide transparent information about the payment methods offered. One of the best examples of this is the Betway Casino, which offers many different ways to transfer money. It also includes details on how you will receive payment for your winnings. Options include paying for bets and receiving payments through PayPal, Neteller and via PaysafeCard to name just a few.
Use Credit Cards
Credit card companies will often buffer you from fraud. Consider using credit cards over debit cards whenever you are shopping online. Just make certain you pay off your monthly bills in full and on time. That ensures you won’t accrue unnecessary interest and fees.
Don’t Reply to That Email
Never provide personal information based on an email receive. No matter how legitimate these may appear they are almost always fraudulent phishing schemes. Do not reply to the email. Instead contact your bank or credit card company by searching for their numbers on the back of your credit card. If they need your information you can most likely provide it over the phone. Make certain you don’t call the number in the fraudulent email.
Change Your Passwords Frequently
Make certain to change your passwords frequently and make them a mix of characters, symbols and numbers. If you like to use the same password at least make sure you choose something difficult to decipher: no birthdays, no family names and include plenty of obscure characters and a mix of upper and lower case letters.
Does it seem like the cost of groceries is constantly rising? Do you think you need to eat ramen noodles and mac-n-cheese to avoid breaking the bank? Would you like to discover inexpensive options that are also healthy and nutritious? Check out the ingredients listed below for staples that are good for your body and your wallet.
Raw nuts like almonds and peanuts can be used in all kinds of recipes. Steer away from the sweetened versions like peanut butter if you want to maximize nutrient intake. Nuts are packed with proteins and unsaturated fats that will act as a reservoir of energy for your body. They make a great snack on their own and can be used in sauces and toppings. Many stir-fry dishes go great with peanuts crumbled up on top. If you want more protein and fiber add almonds to your breakfast oatmeal or cereal.
This amazing green vegetable makes a great main dish or a side dish. It is also a great addition in all kinds of recipes. In a four-cup serving, there is 160 percent of the daily value of vitamin A, 40 percent of the daily value for folic acid and vitamin C, and eight percent of the daily value of calcium. It is also rich in phytonutrients that can help prevent cancer. Try adding spinach to your omelets and pasta dishes. It goes well on a lot of different sandwiches, and is also a great centerpiece for any salad.
Don’t underestimate the power of lentils. These legumes are incredibly versatile, and can be used in soups, curries, main dishes, salads, and more. They can even be used to replace ground beef in burger recipes. If you haven’t tried making your own veggie burgers, they can be made in many different varieties, and lentils make a great base. Did you know that a pound of lentils actually has more protein than the same amount of beef?
Also known as chickpeas, these beans are full of fiber. They make a great curry dish, or if you’re feeling Mediterranean, they also serve as the main ingredient in hummus. They are a great addition to any salad and can be made into a paste to spread on your sandwiches. They are also a good source of protein. Look up different recipes that use them and you’ll realize how versatile they are.
Eggs have a high amount of proteins and omega-3 fatty acids, and they make a more filling and nutritious breakfast than just cereal. Eggs taste great with fried rice, home-made ramen, certain types of salads and even in sandwiches.
Whole wheat bread can be used as an alternative to white bread. It has much more fiber and protein. There are a lot of different kinds of sandwiches that you can make with whole-wheat bread. If you are looking for a cheaper and healthier alternative to mayonnaise as a sandwich dressing, consider Just Mayo by Hampton Creek. They use a blend of vegetables to make their sauce, and their goal is to make something that is healthier to eat while being more affordable.
Fill Your Pantry with Health Foods
A lot of these foods need to be cooked right away to maintain their freshness, while others, such as lentils and other dried beans, will keep for a long time. Look up some recipes online, then work with what you have on hand and make an extra special shopping trip for new ingredients in this list. You’ll be surprised by how many inventive and inexpensive new recipes you might like.
The back to school shopping season has begun. You want to buy the clothing and school supplies your children need, but you also want to watch your money and spend wisely. Before adding items to your cart and clicking submit, here are a few tried and true steps to help you save money when shopping online.
Never buy anything without checking Google Shopping for the cheapest online prices. Simply type the name of the product you wish to buy in the Google search field and compare prices. Don’t forget to check the total price, as some websites also charge tax and apply shipping fees. Then compare these prices to Amazon, which is often still the cheapest option available.
Cash Back Sites
Once you narrow down the list of available stores run a quick query to figure out which cash back website will pay you the most for shopping. Ebates, Mr. Rebates and TopCashBack are all great options, but there are many other sites that will also pay well. Some stores will only provide 2 or 3% cash back, but every penny counts and if you are a frequent online shopper these pennies will soon add up to big bucks. Over the years I’ve earned over $2,000!
Once you’ve narrowed down the store and cash back options you can move on to step three: searching for discount codes. There are a plethora of sites offering voucher and promotion codes these days. I usually search this website first, but don’t limit yourself to one site and if all else fails do an old fashioned Google search to find a coupon. Keep in my mind that some websites will accept multiple coupon codes. Kohl’s and JCPenney are two stores that let you stack promotions. If you aren’t sure how a site works try entering a couple different ones and see which combination yields the most savings.
Don’t forget to check the price at the lowest store against other stores offering promotional discounts. For example, a store may carry an item at a higher price but provide free shipping. Shipping alone, even on a small item, is usually in the range of $6 to $8. When comparing the final price don’t forget to take shipping and other discounts into consideration. Voucher codes for free shipping are quite valuable.
Check out the Used Market
Thredup, Schoola and eBay are thrift stores of the Internet. If you don’t need to buy a new item you can always search one of these sites for a slightly used option. These aren’t always the cheapest alternatives, (sometimes you can find new items cheaper with promo codes and discounts), but don’t rule them out either.
Brick & Mortar Options
If you are out and about anyway, consider comparison-shopping at brick and mortar retail stores. Sometimes the prices are cheaper and the convenience of trying on clothes and taking them home that same day can’t be beat.
Don’t Waste Too Much Time
Does it seem like all of this searching and comparing might take forever? If it takes longer than five or ten minutes to find the best deal then purchase the cheapest option you’ve found so far and move on. You don’t want to spend hours on end just to save yourself an extra dollar or two.