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People it is very important you search for professional help, remember that getting in debt is really easy, but getting out of can be complicated if you don´t have the right tools. My recommendation is that you always seek professional assistance when it comes to paying your debts, remember that professionals can even get you great deals with payment options.
Many of us have different kinds of debt and in one point of our lives is difficult not to have debt, as debt increases in our household we are also in need to find out how to reduce our overall household debt. But be sure that acquiring debt is a 100 times easier than finding the way to reduce it, this requires a lot of work, dedication and keeping a clear mind, especially if you don´t stick to your budget month after month.
If you really want to control your debt and reduce it you can, and there is no better feeling than being debt free, here I will share some tips with you that will definitely help you reduce your debt and get closer to your goal of being debt free. You might think all this is logical or that you already know it… but do you really apply them on your daily life?
Cutting back does not mean punishing yourself or your family, it means you stop spending on things that aren´t really a priority and you choose products that are less expensive and you find ways to save while still providing to you and your loved ones as well as keeping your lifestyle (of course without the “extras” you might be used to), if you do this all month long you will star paying your debts quicker. Remember that being aware of how and when you spend your money is very important, not to mention on what you spend it. Sometimes we don´t pay attention on things we are used to have such as electricity, but you need to be aware on how much you are spending and how you can reduce your bill just by simply turning lights off and unplugging some devices, by reducing regular expenses you will save a little more and you will be able to use that money to pay your debts.
You need to be completely aware of how you spend your money, remember that a dollar spent here and there can turn in to hundreds by the end of the month, if you are aware of how, when and in what you spend you will be able to really get your cut backs going trough out the month.
Stick to your budget
Ok, so first thing first, to me this is one of the most important aspects of being debt free and economically independent.
The budget is a golden rule when it comes to finance, from the biggest international corporation to the household, budgeting your income is a must! Maybe you don’t know how to make a budget, trust me it’s simply but it does require commitment from your part, as well as practice. Start by listing all your fix monthly spending with their due dates, then include gas and groceries (if this vary from month to month, it will be ideal that they are controlled each month). After you list all your fixed bills take a look at your monthly salary and see how much money you have to pay your debts, remember to take control and avoid spending extra cash on things you don´t really need, this cash can be used to pay debts. Stick to your budget, manage yourself when it comes to spending and you will be in a clear path to reducing paying your debts.
Control and limit the way you use your Credit cards
Amongst us investors and savers there is a golden rule “If you can´t pay it with cash, don´t buy it” This does not means do not use your credit card, but if you use it you need to be certain that you will be able to pay it in full the next time your credit card bill comes, avoid taking “offers” where that give you a few months to pay your balance or buy with credit having the idea to only pay the minimum, because guess what, when you do this you just acquire a new debt! If you have a credit card pay it in full each month, and if you can pay it with some days in advance, this is very important so I´ll say it again: PAY YOUR CREDIT CARD IN FULL EVERYMONTH if you cannot do this, then do not use your credit card.
Get rid of your “collection” of credit cards
How many credit cards do you own? If you are really committed to reduce debt getting rid of all those cards will definitely help, you cannot use what you don´t have, and most likely do not need.
I know this can be difficult and you can maybe find one good reason to keep your credit cards, but keep the ONE you need and get rid of the ones that are completely unnecessary, do not keep your cards based on excuses like “I might need them someday”. Keep one or two credit cards, the ones with the lowest interest rates and the ones that won´t charge you hidden fees. Remember the golden rule, if you really cannot buy something with cash then you are out of your budget and you probably don´t need it.
Don´t waste time and money, pay off your debts
Never, never, never stop paying your debts in order to buy something you don´t need. If you are in debt you are in need to get them pay as soon as possible, take a look at what debts you have and choose the smallest one and start with that one, sometimes we ignore the small one until it becomes the “new big one”. Always pay within your budget and avoid taking out another loan to pay an old debt. Paying your debts always bring a feeling of satisfaction and will give you the confidence that you really can pay your debts, don´t get stuck in a negative way, trust yourself, if you are organized with your finances you will pay your debts in no time. Pay them one by one, remember this is a process, sometimes feeling overwhelmed is natural, but don´t let that feeling guide your decisions, you need to have a calm mind when it comes to finances.
Try debt consolidation
Debt consolidation is a nice option when it comes to reducing your debt, there are many debt consolidation companies will make all the necessary arrangements for you in order to make payments in a more efficient way, but be sure to look for the right company, not all debt consolidation companies will arrange a small monthly payment, search for the right one for you and they will arrange a way to help you pay your debts.
Look for financial counseling
Experts knows best… contact a financial counselor to help you reduce your debt, if you are not an expert in finance you might be making some mistakes that can easily be undone, a financial counselor will show you how to manage your money in a more efficient way and design a good budget.
As I have written before my personal experience in investing in the Forex market has been based on pure studying and practice and more practice… I have learned that sometimes you want to see those pips go up quickly but sometimes they don´t, actually, almost 90% of the time those pips just stay put or go down, but don´t despair, patience is the key.
Remember this is a type of investment where the gains are high but also the risk, as a beginner I managed to lose a great deal and every time I felt that crushing sensation inside of failure, but don´t see yourself as failing, think of it as gaining knowledge about Forex, when you start you start low, so your loses are not great, but it still hurts. Online currency trading is like any other part of life, live and learn, you got to learn your moves and learn from your mistakes, never get stuck on the profit you lost but rather look ahead to all the profit you can make. I even mention in the title of the blog that learning is your best tool, read and read and read, I will never stop saying this, you may have already mastered the basic skills but now you need to master the advanced ones that will make you a successful FX trader.
This article is not really an article but rather just me expressing myself freely, in the next post I will be publishing really important info about student loans and the best ways to keep your debt for a minimum... for now this is just me doing some free writing...
It has been a long time since I graduated from the University, it has been around 3 years since I finish repaying my student loan.
To be honest that is one loan I will never regret taking out, loans can be a great way to get in debt over your neck in no time, it is very important that when you apply for a loan you do a complete research before the application, read, consult, research and ask for information, most companies that give loans will give you a complete guide on how it will all work, from applying to getting the money and from monthly fees to paying it sooner that your stipulated date.
I took a considerable large loan for a 20 year old back in my day, it was a lot of money for me, at least back then it felt like I was going to be able to pay it in 2020 at least... I had a real good experience with my loan, went to the right company and talked to the right people, that is why I insist that you do your research and do it keeping in mind that you are going to owe a lot of money to someone, so you don´t want to end up paying 3 times the money you got due to interests and hidden fees.
search for the right company and remember to read the entire contract before you even think about signing with the firm you are getting the loan from.
Student loans can be relatively easy to pay, but you need to get a great plan, not a good one, A GREAT ONE!
Always remember that the best way to pay your student loan is first and foremost get it from a reliable source and ALWAYS READ THE FINE PRINT, always paying your fees, never get behind on them and if you have the choice (and you really should have it, better yet, you should demand it!) to give advances to the capital you do it, always. you should be able to give advances on the capital side of your debt without getting any penalties.
Eventhough most of the planet is an economical crisis, tons and tons of people keep making money, why?
how? it is very interesting seeing how many people even take advantage of recession to make more money!
It amazes me sometimes the gift some people have for business and to me, as long as you don´t hurt anybody in anyway, go ahead and earn money, money isn't bad just the ways it is made sometimes are... but back to topic, recession came to affect a lot of us, specially is our business is not a "primary necessity", but here are some recession proof businesses, and always keep in mind that even if your income decreased for whatever reason the las thing you should loose is you insurances, always protect yourself and your business.
The Top 5:
Regardless of the times, someone somewhere will always be in need of good, professional health service. This is an industry that has experienced some significant growth over the last few years. And it doesn't show any signs of slowing down any time soon.
If you have the resources – training, manpower and capital – becoming involved in a business that offers health services will assure you of a comfortable market. Consider businesses that focus on offering affordable preventive solutions to people, alternative health care and home health.
Food and beverages
We're not talking about pooling your hard-earned money and starting a restaurant – although if that seems like a feasible thing to do, it just might work. However, going into the restaurant business still has its risk – and a very high one at that.
Instead, you might consider going into a food and beverage business by focusing on offering healthier fare. These days, going into a recession is even a better excuse to eat healthy because it encourages people to cut down on their consumption and to avoid unnecessary purchases.
Consider alternative menus that are tasty and creative or specialized cafés and diners or even vegetarian eateries. Concept plus good taste are usually the best ingredients to a successful recession-proof business.
Yes, this is a recession-proof business, morbid as it may sound. It deals with an inevitability, which means you'll never run out of customers. You could either get involved in selling services or offering related products. Cremation, which has increased in popularity in the last few years, is also a good option.
Repair services are also recession-proof businesses. There will always be people whose kitchen sinks clog, whose air-conditioning breaks down, whose roof starts leaking or whose car suffers from overheating. What these mean is pure business opportunity, even when economic times seem shaky. And even if potential clients try to delay much-needed repair, they will still come to you for help eventually.
A caveat: many, if not all, of these businesses require specialized training, skills and equipment. However, once you have these resources, you'll have access to a recession-proof business that does not only offer a potential for high margins, it's also a venture that won't require you to wait too long for a return on your investment. Provided your services are tops, it's likely that you could be in business for a very long time.
It may seem surprising but starting a business involving dating and matchmaking could help you tide the recession over. Recession or no, people will always be looking for someone special either for dating or marriage. Already, this business has hit over $650 million in sales.
As a recession-proof business, starting a personals venture could mean good profits and steady work. And no one even has to leave home. Some of the most popular companies today are those that offer online dating (Internet speed dating included) to their clients. With sufficient support, attractive and secure platforms and savvy, targeted marketing, this type of business is set to fly."
Ok, so continuing with this set of articles I am posting here a very important piece of information, which I think is key when considering Forex, I am still trading in the practice mode, so far I managed to make like 2,000 dollars, but I also took a beating when the dollar went down, lost aprox. 700, so you can say I have made 1300 dollars so far. I have read a lot and so far I still don´t feel all that confident to do it with real money, as you know I am not a professional, rather I looking to learn and start making some extra income... so with no more things to say for now, here is part 3 of this series of articles, I mention once more that I didn´t right this I am only sharing it with you guys, enjoy!
P.S. If you think the information is repetitive and the same from other articles trust me, It wont hurt you to keep reading and reading and reading... always read, learn and be prepared.
"Hundreds of thousands of individuals have already joined the FOREX market. If you are interested in a way to invest your money with quicker returns, FOREX may be perfect for you. But before you can begin earning money, you should thoroughly understand the FOREX market.
To better understand the FOREX market, you can compare this investing method to trading stocks. In the stock market, you can buy shares of many different corporations in the hope that stocks will rise, earning you a profit.
Well, the FOREX market works in the same way, except you are not buying shares of a corporation. Rather, you are buying and selling currencies. The aim is the buy a currency and sell it when the currency rises, thus earning a profit when the currency is more valuable.
As with the stock market, the FOREX market consists of those who invest a small amount as well as those with millions to invest. Any individuals with any capital can join in on the action. Because of the wide variety of FOREX brokers available today, you can become a FOREX trader with as little as two or three hundred dollars.
But like the stock market, the FOREX market is full of risks. When you are investing any money there is always a risk of some loss. To minimize loss, many FOREX traders thoroughly educate themselves through classes, online courses, books, and other materials. There are many kinds of trading methods that will help you analyze current conditions and enable you to predict results.
The FOREX market is constantly changing, with drops and rises in currencies, 24 hours a day. The trick is to predict these trends before they occur, so you can buy currencies low and sell them when it is higher than the original cost. Sometimes, this means buying a dropping currency, and waiting for that currency to take on an upward trend. This forces you to keep up to date on the FOREX market conditions.
To become a FOREX participant, you should at least read a book, if not take a course. Because real money is involved here, you must proceed with utmost caution. Many FOREX investors sign up with FOREX related websites to receive newsletters, advice, and to keep up with currency trends. Some investors even sign up to receive trends on their phones and PDA's to stay in the game.
The good news is that you have the opportunity to practice with play money before you put any of your hard-earned cash through the FOREX market. When you sign up with a brokerage firm that offers the option to trade online, you can use play money to test and understand the software. You can use this valuable opportunity to put your research to the test by trying out different trading methods to see if your predictions and analyses are correct. While the money may not be real, the conditions are, which allow you a stable playground to learn and adapt to the FOREX market.
Stay informed to stay on top of your game; your FOREX profits count on it. By remaining vigilant, you'll be able to pull in great profits through the FOREX market."
This is part 2 of the Forex market, please keep in mind that I did not write this article, I am sharing it with you so that you can benefit from it. I am still in the practice mode of my Forex account and so far all the reading I have made has been a good tool, always be careful and do not do any trading with real money until you have a strong knowledge of the market.
“How To” Start Trading The Forex Market? ( Part 2)
Why is FOREX trading so popular?
Because you can trade from anywhere. From your kitchen table, bedroom, garage or from the nearest Starbucks coffeehouse ( most of them have wireless Internet connection).If you have or like to travel, take your laptop with you and you can trade the FOREX anywhere in the world where you have an Internet connection.
When you want to start trading the Forex Market nobody is asking you for a diploma, a formal license or a proof of how many hours you have spent studying the Foreign Exchange Market and/or Banking Industry.
FOREX Trading is Economical and Start-up Costs are Low!
You can open an account to trade Forex with as little as US$ 200 at he most brokerage firms.
I personally do recommend Fenix Capital Management, LLC, which offers a state of art Trading platform, that allows you to place orders directly by clicking on the chart.
The Main Benefits of Trading the FX Spot Market are:
YOU don't pay commissions or fees!
YOU can trade 24-hours a day !
YOU can trade up to 400:1 Leverage !
YOU can have FREE Streaming executable Price quotes and live charts!
It is important to know the differences between cash FOREX (SPOT FX) and currency futures.
In currency futures, the contract size is predetermined.
With FOREX (SPOT FX), you may trade electronically any desired amount, up to $10 Million USD.
The futures market closes at the end of the business day (similar to the stock market).If important data is released overseas while the U.S. futures markets is closed, the next day's opening might sustain large gaps with potential for large losses if thedirection of the move is against your position.
The Spot FOREX market runs continuously on a 24-hour basis from 7:00 am New Zealand time Monday morning to 5:00 pm New York Time Friday evening.
Dealers in every major FX trading center (Sydney, Tokyo, Hong Kong/Singapore, London, Geneva and New York/Toronto) ensure a smooth transaction as liquidity migrates from one time zone to the next.
Furthermore, currency futures trade in non-USD denominated currency amounts only, whereas in spot FOREX, an investor can trade in almost any currency denomination, or in the more conventionally quoted USD amounts.
The currency futures pit, even during Regular IMM (International Money Market) hours suffers from sporadic lulls in liquidity and constant price gaps.
The spot FOREX market offers constant liquidity and market depth much more consistently than Futures.
With IMM futures one is limited in the currency pairs he can trade. Most currency futures are traded only versus the USD.
With spot FOREX, you may trade foreign currencies vs. USD or vs. each other on a 'cross' basis, for example: EUR/JPY, GBP/JPY, CHF/JPY, EUR/GBP and AUD/NZD
More and more well informed investor and entrepreneurs are diversifying their traditional investments like stocks, bonds & commodities with foreign currency because of the following reasons: (will be continued)
Risks of currency trading: Margined currency trading is an extremely risky form of investment and is only suitable for individuals and institutions capable of handling the potential losses it entails. An account with an broker allows you to trade foreign currencies on a highly leveraged basis (up to about 400 times your account equity). The funds in an account that is trading at maximum leverage may be completely lost if the position(s) held in the account experiences even a one percent swing in value, given the possibility of losing one's entire investment. Speculation in the foreign exchange market should only be conducted with risk capital funds that, if lost, will not significantly affect the investors financial well-being."
Time passes by fast and some people are caught unprepared for when life catches up with them. Most of us are busy taking care of our families and working to provide for today, this gives us little or no time to think ahead, to prepare for when the time comes for us to stop working, because we are too old, because we are unable to work or simply because there is no more positions available for retired people.
Everyone needs to prepare for that time when they can just relax and enjoy the fruits of all those hard working days. People who have spent many years working and supporting their families deserve a chance to lay back, do what they have long wanted to do and live life to the fullest without having a financial burden.
In order to do this you should prepare starting today, remember that is now when you are producing and working, don´t just work for today, plan ahead.
Every person should prepare with a proper retirement package so that when that time comes, he or she will be able to go to places he wanted to visit before but did not have the time or resources, or maybe just by that dream boat or spend time just not worrying about how to pay the bills.
Planning for your own retirement should start with setting aside even a small amount from his monthly earnings to be saved and used for his retirement.
A retirement plan will mean you no longer have to worry whether you have a family to take care of you when you grow old. It means not having to get scared that your children may be so busy living their own lives they will place you in a home for the aged. Preparing for retirement means being secured in the knowledge that something is waiting for you, when you can no longer earn money the way you used to do.
For most people, retirement means being free from previous obligations and responsibilities, it means a time to dedicate to you and your loved ones without the stress of labor
So the best investment you can make in life is in yourself, start planning for your retirement and look forward to a life of relax.
Finding affordable health insurance is not impossible, there is a great deal of companies that will be able to accommodate your needs, requirement and overall your budget. The reality is that most people just don´t know where to look for health insurance. Finding the right company with the ability to find health insurance providers can really simplify things for you when it comes to buying health insurance and there is always the internet, you will definitely find lots and lots of information.
Thousands of people in the United States simply go without health insurance because the idea of health insurance being unaffordable is on the top of their minds and this explains why there are many individuals in the United States who choose to go without health insurance. Those who do not have health insurance will be less likely to visit a doctor. This means that a lot of times illness and other ailments are not diagnosed until they have developed and sometimes the cost of treatment exceeds the cost of health insurance, so it is better to be on the safe side and find affordable health insurance.
There are numerous different things that will determine what your monthly health insurance will be. Your health insurance rates will change depending upon the kind of policy you have. For example, do you only need health insurance for yourself, or your entire family? The answer will have an impact on the rates. Are you young, or are you in your senior years, do you have a previously diagnosed illness…Most health insurance companies adjust your premium based upon your age and/or your health itself. Are you self-employed, or are you receiving health insurance through your work? This will also affect the cost of your health insurance.
In life you never know when an accident will happen and you might need a trip to hospital for x-rays, stitches or a cast for that broken bone. These bills will add up quickly but if you have health insurance you can get the help you need without the worry of having to pay for everything.
If you can’t afford to pay off your medical bills, your credit rating might be affected. If you have health insurance, you can prevent these problems from ever happening and most importantly your health will be protected.
Another way you can make sure that your insurance rates are lowered is to increase the amount of your health insurance deductible, but keep in mind that when you use your health insurance you will have to pay that big deductible. And most likely anyone that has existing health problems which require extensive medical treatment may find it necessary to have a higher monthly premium.
The best recommendation is to do research, ask all the questions and contact as many companies as you can, the internet is a great way of researching fast and get tons of quotes that you can have mailed to your inbox, this is the most definitive way to save money on health insurance.
"The Forex Market is very different than trading currencies on the futures market, and a lot easier, than trading stocks or commodities.
Whether you are aware of it or not, you already play a role in the Forex market. The simple fact that you have money in your pocket makes you an investor in currency, particularly in the US Dollar. By holding US Dollars, you have elected not to hold the currencies of other nations. Your purchases of stocks, bonds or other investments, along with money deposited in your bank account, represent investments that rely heavily on the integrity of the value of their denominated currency ¨the US Dollar. Due to the changing value of the US Dollar and the resulting fluctuations in exchange rates, your investments may change in value, affecting your overall financial status. With this in mind, it should be no surprise that many investors have taken advantage of the fluctuation in Exchange Rates, using the volatility of the Foreign Exchange market as a way to increase their capital.
Example: suppose you had $1000 and bought Euros when the exchange rate was 1.50 Euros to the dollar. You would then have 1500 Euros. If the value of Euros against the US dollar increased then you would sell (exchange) your Euros for dollars and have more dollars than you started with.
You might see the following:
EUR/USD last trade 1.5000 means
One Euro is worth $1.50 US dollars.
The first currency (in this example, the EURO) is referred to as the base currency and the second (/USD) as the counter or quote currency.
The FOREX plays a vital role in the world economy and there will always be a tremendous need for the exchange of currencies. International trade increases as technology and communication increases. As long as there is international trade, there will be a FOREX market. The FX market has to exist so a country like Germany can sell products in the United States and be able to receive Euros in exchange for US Dollar.
Risks of currency trading
Margined currency trading is an extremely risky form of investment and is only suitable for individuals and institutions capable of handling the potential losses it entails. An account with an broker allows you to trade foreign currencies on a highly leveraged basis (up to about 400 times your account equity).The funds in an account that is trading at maximum leverage may be completely lost if the position(s) held in the account experiences even a one percent swing in value. Given the possibility of losing one's entire investment, speculation in the foreign exchange market should only be conducted with risk capital funds that, if lost, will not significantly affect the investors financial well-being."