Budgeting, Saving, Stocks, Tips for Securing a Loan- All the Financial Good Stuff

in Finances 

In today’s world, with the endless commercials on zero interest credit cards, loans, and more credit cards, its sad to know that many Americans know zero about saving, budgeting, or anything even remotely surrounding their finances.

Securing a Loan

In fact, as recently as 2013, an astounding 75% of Americans do not have enough money in their savings account to cover any financial emergency should anything happen unexpectedly. So with that being said, let’s take a look at some options out there that could better guide you down the path to financial awareness.

Budgeting- The Basics

  • Plan Out Your Income

-the first thing to keep in mind when in comes to successful budgeting is to keep track of every single source of income you have coming in, whether its from wages, trusts, salary, benefits- every dollar coming in should be tracked and recorded. This offers a great starting point to begin your budget

  • Plan Out Your Expenses

-the next step after recording your income would be to record your expenses, so everything you spend money on- rent, utilities, travel, entertainment, you name it. An important tip is to separate your essentials (rent, utilities, etc) from the non-essentials (entertainment, eating out, etc). You can better see where your money is going this way.

  • Financial Emergencies- Plan, Plan, Plan

-we all know that things happen unexpectedly and beyond our control financially; the best thing we can do is plan as best possible for anything that may occur. Simply setting aside several dollars every week or two in a separate account that is designated for emergencies will be more than simply doing nothing.

Options for Borrowing in the Short Term

There may come a time when we may need a bit of cash earlier than expected. Fortunately, there are options out there to help us with that, although we have to make sure we are taking advantage of these options in a responsible manner. Check out a few below:

  • Payday loans

-although many individuals have mixed feelings about payday loans, when use properly, they can come in handy tremendously when you are experienced unexpected financial problems, typically allowing individuals up to 30 days to pay the loan back. Just make sure you read all the fine print before signing on the dotted line.

  • 0% Interest Credit Cards

-even though they aren’t as readily available as they used to be in the past, 0% interest cards are also an option. Typically the deals run for 6 months and borrowers won’t have to pay a dime more than what they spend. If you do decide to go this route make sure you pay off the balance on time to avoid a negative hit to your credit report.

Now, For All The Adventurers Out There

For those who are looking to get some extra cash in a less traditional way, also have the option of checking out online casino games such as, 888 Casino. Options such as these allow for safe and secure casino games for those who are into them. However, as with anything make sure you go into it responsibly!

Getting a handle in your finances, regardless of what way you go about it, can be an easy and simple thing to if done patiently and goals to what you want to accomplish. So break out that bank book and get moving!

FOUR NEWBIE TIPS FOR TRADING BINARY OPTIONS

in Investing 

Binary options trading started a few years ago in the United States and since then encouraged traders from all walks to test and try their luck out this trading method. Here, traders profit if they do trading right, but that does not happen in all cases.

binary options strategy

Learn binary options strategy

Beginners, in particular, struggle in the first month—the toughest period to survival.

Do you belong in this category?

The truth is that you may finish LOWER or HIGHER than when you started, so deciding to call or put should come from a sound decision. Below find helpful tips to start out in trading:

NOTE: What you are about to read DO NOT GUARANTEE YOUR SUCCESS but intend only to improve YOUR binary options trading skills.

BEGINNER BINARY OPTIONS TRADING STRATEGIES

Avoid being tempted on less common asset except when you’re comfortable and familiar with its market movement. In short, select common assets when trading because you will find resources, news and discussions about them easier online.

Join binary options strategy websites so that you get insights, tips, strategies and everything latest about trading binary options; in fact, some indicator providers update members of predictions daily, especially beneficial if this signal provider is proven in offering valuable tips for its comprehensive research and analysis before sending out a signal.

Study and understand the market as well as its tools. Simply, you do not go to a battle without plan, especially it involves money. So much so, you do not trade or choose put or call without analyzing a decision.

Binary options trading are not a game of chance but of strategic planning and deciding. For better results, learn how this type of trading works and what tools are available.

Practice with a demo system so that you familiarize yourself through an interactive demo and not only with a combination of graphics and presentations.

Remember that some brokers may require a deposit before it is done, but it should not be a problem if you are a serious trader.

A demo gives you the time to study before plunging into the REAL GAME because here you can use your strategy and skills with an experienced broker.
Although this list is not exhaustive, it may help a newbie decide better whether to PUT OR CALL. Do not hesitate in getting help from a broker who has a proven record of accomplishment in binary options trading. Lastly, explore ALL OF THE CHOICES before deciding in order to reduce the RISKS.

5 ways to borrow for the short term

in Finances 

If you’re experiencing short term financial problems, borrowing can be an ideal solution. There are various types of loans and options open to you. It’s important to get an understanding of your options before you decide which one is right for your situation. Take a look at these top five short term borrowing options available.

Quick Ways for you to Borrow Money

1. Payday loans

Payday loans have quickly become the most popular short term borrowing option. Designed specifically for short term cash flow problems, payday loans are usually provided for a maximum of 30 days. You need to have a bank account in order to receive the money and the payment of the loan will be taken in full, along with added interest on your next pay day. It’s important to choose a responsible lender such as Wonga, as there are a lot of loan sharks out there. You can get the money in your account the same day and there’s even the option to pay it back early.

2. Overdrafts

Temporary overdrafts can often be arranged by your bank. Allowing you to go over your balance, the overdraft will usually come with added interest. It’s worth noting that some overdraft facilities can cost more than getting a payday loan. Therefore it’s important to compare your options before choosing this method.

3. Personal loans

Personal loans were once considered to be the most popular borrowing option available. Allowing you to borrow up to £25,000 unsecured cash, this option is ideal if you need a lot of money quickly. The term of the loan varies and short term options are available. However, before you choose this option you may want to think about re-mortgaging first. The Express has published an article highlighting the benefits of re-mortgaging instead of personal loans.

4. 0% interest credit cards

They aren’t as readily available as they used to be but 0% interest credit cards can be a good option. The 0% interest deals typically run for 6 months and you won’t have to pay a penny more than you spend. If you choose this option be sure to pay off the balance on time to avoid it having a negative impact on your credit report.

5. Borrow from friends and family

It may feel awkward asking friends and family for help, but it can be a much more affordable option. You won’t have to worry about interest and it’s much more relaxed than borrowing from a bank. Just be sure to pay the money back as soon as you can to avoid any potential arguments.

These are just five ways to borrow the money you need in the short term. Make sure you take both the advantages and disadvantages of all options into account before choosing what is right for you. No form of borrowing comes without its disadvantages. If you make the wrong choice it could end up damaging your credit rating and further dent your finances. No matter which avenue you choose to go down, be sure you’re borrowing from a reliable source.

Budgeting tips: how to work out your budget

in Budget 

It is amazing how few people actually plan and stick to a personal budget, however if you are looking to save a little cash or you are worried about debt, then the wisest thing you can do is to work out a budget and stick to it. Read our guide on working out a budget to help you get on top of the budgeting game today!

Workout Your Budget

When working out expenses it is important to be realistic. If you smoke for example, instead of promising to kick the habit right now you should take account of what you spend on cigarettes and record it. Once you have a starting point like this it is much easier to know when you have overspent and when you need to make savings.

Plan for financial emergencies

A financial emergency will creep up on the best of us at one time or another. The trick is how to cope with these and planning a financial emergency strategy is always a wise idea. You should always work out the cost of the worst case scenario and compare it to one that mitigates the damage. An example is a birthday party. Imagine you are short the balancing payment on a birthday bash you booked? If you cancel the whole thing it could end up costing you your deposit money and wrecking the day itself regardless, while approaching a reputable payday loan company like Wonga ZA for help is one option in an emergency it is far preferable to have your own contingency plans in place for emergencies.

Work out your income

Any budget starting point is the amount of income you have from wages, salary, trusts, rental income, maintenance, benefits or bonuses. You need to identify every single source of income you have and record it. If you are self-employed it may be a little harder to work out a budget, but a good tip is to review the last three month’s of bank statements and then take an average of what has come in over that period. This gives you a good starting point to work from if you find it hard to predict your income. More guidance of effective budgeting can be found here.

Work out your expenses

Working out your expenses means creating a comprehensive list of everything you spend money on. You can start by identifying essentials like housing costs, travel, food and utility bills. Then you can add in things that are perhaps not as essential like take-aways and entertainment costs. Once you separate these expenses you are in a better position to cut costs if your income is reduced suddenly or unexpectedly. If you have expenses that are quarterly, monthly and weekly, it helps to work out a monthly or a weekly expenses budget so it you pay 200 per quarter on electricity, you will find it beneficial to work out what this costs on a monthly basis. This way your expenses are much more manageable.

Identify areas where you can cut costs and areas where you can increase income

Once you have a full list of your expenses and income it is easy to see whether you need to be considering increasing income or decreasing what you spend on. Great ideas for increasing income include renting a room in your house out, or getting a weekend job. You can cut costs by making simple adjustments to your daily routine for example if you always eat out for lunch, you can save money by making a packed lunch and taking to to work every day.

3 Things to Consider Before Taking Out a Loan

in Finances 

Taking a loan out is an important financial decision that requires you to carefully consider your situation and, to some extent, be able to predict the future. Although no one can comprehensively guide you to the best deal, as ultimately the decision is yours, here are three key points to help you make up your mind when planning to borrow money from a bank or specialist loan company.

Things To Consider for Getting Loan

  1. Interest Rates

It’s important to weigh up interest rates properly and make the right calculations that break down the cost so the deal makes sense to you. It can vary dramatically, but larger loans generally have lower interest rates. In the same vein, you will often pay less interest if the repayment period is shorter. Always check the small print for penalties and focus on the Annual Percentage Rates (APRs) of interest charged rather than monthly interest as these are mainly advertised to trick you into thinking that rates are low. The lender should be happy to answer any questions about whether the APR varies or if it is fixed and if there are any additional fees.

  1. Risk

Perhaps the main reason people are wary about taking out a loan is because of the risk it poses if, for some reason or another, the repayments are unable to be met. Loans can be greatly beneficial, not only to acquire what you want but also by improving your credit history if you uphold the contract of agreement. Assess how risky the loan arrangement may be by looking at your income and job stability as well as the terms and conditions of the offer. You can choose a secure or unsecure loan. In a way, an unsecure loan is less risky as it is not tied to your home or possessions. but failing to pay can result in your credit being blacklisted.

  1. Repayments

Depending on your earnings and how frequently you get paid, it’s important to arrange loan repayments at a frequency that suits you. This is simply to ensure that you can keep up with them. Once agreed, the repayment period is usually fixed and it is often the case that longer repayments will result in higher interest rates. Flexible loans are becoming more popular but the convenience of paying when it is best for you comes at the price of high interest. Just be sure to answer honestly to yourself and to your lender whether you can realistically afford to pay back the monthly amount they offer.

Consider the limitations that taking out a loan will cause you, such as cutting back on luxuries and vacations, as well as whether you will be squeezing the budget far too tight if you take one out. Be sure to speak to your lender immediately if you are running into trouble with paying back the money, as they’ll appreciate your open communication about the matter. At the end of the day it is best to shop around for many quotes and keep a close eye on your financial flow in order to handle your loan cleverly and efficiently.