Aug 28, 2018

Article Written by : Business and Finance Net Many will make new years resolutions and then forget them by the end of January. However, a new years financial resolution could mean that you are free of debt and have savings that will improve your financial health. Resolution No. 1: Setting a monthly budget – Budgeting is a good way to build long-term wealth, but getting started can be a difficult process. Here are a few tips: Know how much you make – You should take your final figure after all deductions have been made. Calculate how much you spend – Use a spend tracking app or use an excel sheet and this will help you log every dollar spent over a 3 month period. Know where you can cut back- Fixed expenses like rent or your mortgages are areas that will remain the same. But you can look at other areas like grocery bills, dining out, shopping, utilities, subscriptions etc. Adjust your numbers – Every month will be different and you will have to adjust your figures to stay focused on your goals. Resolution No. 2: Building emergency savings – Your emergency fund will see you through if you loose your job. Ideally, this fund should cover your expenses for at least 3-6 months. Here are a few tips: Monthly savings goal – Take a percentage of your income and ask your bank to directly transfer this amount to another account each month. Save windfalls – If you get any extra money in the form of gifts, bonuses or rebates directly transfer this to your emergency account. Earn more. – Look for ways to make extra money, like engaging in freelance work or getting a second...

Jul 28, 2018

Article Written by : Simply Credit Help If you are a small business owner, you will be accustomed to taking risks. However, your business is often your biggest asset and your main income stream. Therefore, making sure you and your business are financially secure is vital. Here are three tips for small-business owners. Establish an emergency fund – Business fluctuates. Sometimes your business will do better than other times. Therefore, creating an emergency fund to cover the months when your income is low is a good way to ensure that you can meet your monthly expenses. Look at placing your emergency fund in a money marketing account, as they will give you a higher return than other traditional savings accounts. Diversify – If you are a business owner that invests all your funds back into your business, you may want to rethink your strategy. Although investing in your business is a good idea, you should set limits to stop you from concentrating your assets in one area. Look at also investing outside your business, your industry, and your sector. This way if something happens to your business, you will still have investments elsewhere to keep you financially secure. Customize your investments – Speak to a professional to help you invest to make the most return on your investments. Investment professionals should guide you about the right time horizons, evaluate your risks and weigh your options to give you the best possible...

Jun 6, 2018

If there’s anything that is synonymous with the art of day trading, it is that you will have to undergo losses at one point of time or the other. While most traders who have accepted these losses have moved on to turn into profitable traders later, there are some who cannot accept these losses who eventually make several more mistakes that wouldn’t have occurred if everything went fine. Most experts say that it is important that you learn to accept these losses as they are just as important as making good traders, and so here is a list of survival tips that you can use to deal with trading losses: #1: Attitude is everything There are two ways of looking at the situation: either you can choose to hold it together and stay positive, or you can let the trading loss get to you, resulting in several more mistakes and which stems from a negative attitude. #2: Remember the Law of Trading Probability Every trade has a probability of winning and loss, and so, if you are expecting certain profits, it would be wise to reevaluate your approach to trading as a whole. #3: Look for support from others If you feel let down by the loss, then sometimes it is a good idea to seek guidance from your trading partner or even a mentor. They should be able to help you look at this loss from a different perspective that encourages you to continue trading. #4: Look at the loss as an opportunity to learn Instead of moping, ask yourself what you can learn from this particular loss regarding either market action or trading behavior, and in more cases than not, you do find some answers that might help you in the...

Summary: Read below for some advice on how to plan your post-graduation adventure.   If you have recently graduated high school or college you may be wondering what comes next. If you have some time off before you continue your schooling or before you start working, you want to take a post-graduation trip. One of the unique aspects of traveling is that it gives us the opportunity to not only learn more about the world around us, but also about ourselves.   When you travel you may learn more about what you like and dislike, what career paths seem interesting to you, and what kind of environment you could see yourself living in. If you learn none of these things, hopefully you can at least walk away from the trip with some great photos and memories. Traveling can be an exciting and rewarding experience if you go into it with a loose plan. Below are some tips that can help you prepare for your next trip.   Go Somewhere New   When figuring out where to go for your post-graduation trip, try to look into destinations that are a little different from what you are used to. Maybe you would want to check out a different part of the state, country, or world. If it is in your budget, you may find value in exploring new places that you have not been exposed to before. We grow and learn when we experience what is outside of the familiar, which is why immersing yourself in a different environment may be a beneficial experience.   Book Ahead of Time   As a general rule of thumb, it would be wise to make travel accommodations, such as flights and hotel arrangements, as early as possible. Travel rates can get more expensive the closer you book to the date of your departure. To make sure you can find available spots at the best rates, purchase tickets early and compare different travel resources.   Blog submitted by Monte Carlo Rent A Car, LLC: If you need to rent a car Abu Dhabi, visit Monte Carlo Rent A Car, LLC for the best...

May 29, 2018

Read any book on personal finance or managing your money and one common thread will the emergency fund. Almost every single one will tell you the first thing to do is to open and contribute to an emergency fund. The recommendation is to prioritize this above all other non-essential payments. Here are the basics of the emergency fund: The first is to decide how much you want to commit to the fund. The basic idea is that the fund will be able to handle all expenses in the event of unemployment or an emergency. When factoring the amount, the recommendations are for either three or six months of total expenses. Obviously, six months is better than three. However, if finding employment is not going to be an issue, then three months will suffice. The next is to open the account. Since the funds need to be liquid avoid term deposits or any form of long-term savings vehicle. Those are better suited for retirement. Ideally, we are looking at a high rate savings account that has a low number of withdrawals allowed. This way the interest will contribute to the fund itself. Finally, figure out how much of your income can be contributed to the fund. The sooner the fund hits the target; the sooner you can start contributing to retirement or something else. Remember that once you hit your target, you can sleep well knowing that you can survive for a few months without dipping into your savings....