Financial and business news and articles
Posts tagged Financial Tips
Money is something for which you trade your life energy
Feb 27th
Have you ever wondered when are you going to die? Sounds strange, Isn’t it? Today I visited one of the site which actually predicted my year, month and day of death. Though I never believe in these things still just for fun I wanted to see how many more days I am alive. How can a website estimate how much life you have left. That is not at all possible.
But the question is what this have to do with personal finance? It is actually very much related because that can help us in revealing what we think of our money?
What is Money according to u? As per me it is :
A medium or an exchange involved for the payments of your debts. Money is power, it is a source of luxurious living, a source of comfort and security. The best definition that I have come a crossed about money is : “Money is Something for which you trade your life energy”
Give a deep thought on this. Majority of people in this world get money by giving up some part of our lives. Just imagine you go for work, work hard, earn some money and by this time your death clock is ticking down. No doubt when you are young, you are more energetic and can convert some of this excess into money. But the saddest part is that it only a conversion not a storehouse.
Our life is traded for money and once it is done, it cannot be changed back to original. The only goal that would left with us would be of striking a balance to convert the sufficient life energy into the money that you will need for enjoying rest of your life.
Cost Counting
To apply this principle you need to find out your hourly wage. This will help you in providing the information on how much your life energy is actually worth of. This is how you will be able to measure the cost of money spent equivalent of value of life energy lost. Why not you try some eye opening conversions i.e. take general examples from your daily life. Like:
Calculate how much energy do you spend at your work? Check if you spend less energy and still you can be happy or not? how much energy you are using to buy any new things for your family and many more such examples.
I am not saying that you should never spend money, but you should find a point where you are spending more and still being happy and joyful. You have to learn to say ” I have enough and I dont need more… “.
So always remember that when ever next time you spend enough money do nos forget to ask yourself how many hours all these purchases costing you, not only this, is it really worth or not? Do come back and share your views with us.
Boost your financial IQ
Jan 19th
People with high IQ have one thing in common, they recognize patterns, even the most complex ones, and they can act upon it. Making the right choice at the right time is very valuable, and it happens more often than you think. IQ is not limited to paper puzzles, many real-life situations can be categorised and mapped on patterns, for which the solution then becomes obvious. The main problem is to be able to identify the pattern in the first place. This is what intelligent people with high IQ scores are good at.
For example, highly intelligent people schematize real-life situations into decision trees which enable them to come up with the best strategy. Normal people tend not to do that, especially when the situation becomes complex. We, normal people, are submerged by the complexity of the situation and we just guess and pray for our choice to be the right one. Now, just try to see yourself in the future, what kind of car you want, where will you live, how many children you will have, etc. Just try to imagine what the costs will be and the associated nest egg you need to build up over time to be able to achieve it, can you come up with the funds you need? Probably not. A gifted person might make a quick calculation and tell you that she needs to invest $500 a month to achieve her objective, but most of us can’t do that without help. This is where simulation models can save your life. Simulation models are built to compute the real-life situation for you, because not everybody has a high IQ. Financial planning models are there to this work for you, peak at the future and tell you how much you need to save today to be able to achieve your objective tomorrow. Financial planning models are therefore boosting your financial IQ; No surprises, just see the future, define your strategy and make the best decision to achieve your goals.
Why Would You Need A Irish Visa Credit Card If You Live In The UK?
Jan 19th
An Irish Visa credit card is a good idea if you live in the UK. You never know when some type of emergency will come up that you need a credit card for. It is also very convenient when it comes to reserving hotel rooms, buying flights, or shopping online. Such a credit card can come in handy for a variety of needs. You will find plenty of different offers though so take your time to find one that is perfect for you.
With an Irish Visa Credit Card you will pay interest for the money you access on it. Having a low interest rate compared to a very high one will significantly impact the amount of money it costs you to use that credit card. The goal should be to get as low of a credit card offer as you can when it comes to the rate of interest.
Be wary though of offers with a lower rate for a small period of time. After that, the interest rate could be extremely high. In the long run you are better off having an Irish Visa credit card with a moderate interest rate that doesn’t go up after you have had the card in your possession for a limited period of time.
If you are interested in an Irish Visa credit card, you can find plenty of great offers on the internet. It only takes a few minutes to apply for one. Then you will be notified by mail if you have been approved or not. There are credit card offers for all credit situations so find one that is a good match for your current situation.
You can also apply for a business credit card. That is a very good idea if you have your own business. Mixing your personal accounts and business accounts is difficult to manage. With a separate credit card your business can start to build a solid credit history. It also keeps your personal finances out of the business world.
In order to be approved for an Irish Visa credit card you will need to offer several pieces of verification. The most common one is verification of your identity. The second one is verification of your income. You need to be able to show you have a method of paying back the credit that is extended to you. Verification of residence in the form of utility bills is often required as well.
Educational Article: Paying the Man
Jan 16th
The current financial situation in the
At some point in the near future, the Federal Reserve will be forced to decide whether to tighten the access to credit. In order to stem monetary inflation, the Federal Reserve will need to raise interest rates in order to contract the availability of money in the system. If this happens, it will result in a higher prime rate and higher credit card rates. This will increase the yield on short-term treasury notes, and will prompt many bond investors to sell their long-term bonds to purchase shorter term notes with higher yields. As more people sell their long-term bonds, it will push down prices and force up the yield.
Another option for the Federal Reserve is simply allowing price inflation to roll through the economy. This will happen as credit markets normalize, and more dollars end up chasing fewer goods and services. This will inevitably result in higher prices for consumer and capital goods, including housing. As prices continue to increase, a resurgence of the ‘bond vigilantes’ will occur as more people refuse to buy government bonds at the current low rates. As the government needs to discount their bond offerings to clear the inventory, it will push up effective interest rates on long-term bonds.
Regardless of which event transpires, there is an extremely high likelihood that long-term bond rates are headed up in the near future. This phenomenon will also push up mortgage rates since most mortgages are indexed against government bonds. As the mortgage rates continue to increase, the number of people in the pool of home buyers will decrease because higher rates translate into less buying power per dollar of monthly payment that a person can afford.
As more people transition out of the home buyer pool into the renter pool, it will increase demand for rental housing. This increase in demand will eventually manifest itself in higher rents as the supply of rental housing adjusts more slowly than the movement of people into the renter pool.
An important factor to consider is that income property owners will benefit greatly from this effect, as it will place upward pressure on rents. These increased rents will provide additional cash flow to people who bought at low fixed rates and locked-in their cost of borrowing for three decades. The most important point of this unfolding event is the fact that the window of opportunity to act will be closed very soon. Once inflation begins to occur, or monetary tightening commences, it will be too late to capture the best deals that are currently in the marketplace.
The reason is because either event will be quickly followed by a step-up in interest rates, which will decrease affordability for income property investors. Because of this, it is critical for prudent investors to act now and lock-in their cost of debt at the current low rates; this will protect you against the coming increases in interest rates by making them work to your advantage, instead of to your detriment.
Ultimately, we must ‘pay the man’ at some point by enduring the market correction that must eventually result from current government policy. By taking action now, you can benefit handsomely from the coming economic disruptions while many other people are enduring the problems implicit with trying to get something for nothing.
Some Black Friday Tips on Wacky Thursday
Nov 27th
I am just in love with these crazy named days like Black Friday, Shipping Monday, Cyber Monday, etc. I decided this time that I will move away with these days but you know it is kind of hard and difficult for a finance blogger like me. So I decided instead of avoiding it I will share some of my personal tips with all of you regarding Black Friday.
I have decided that I am gonna hit at the noon time this year and see what happens though I really avoid all these dramas. I am sure even this time best buys gonna make some huge income tomorrow. Lets see what happens.
So now lets get back to some Black Friday interesting and funny Tips
You should be aware of what you need ahead of time – You should always check the stores just before the thanksgiving day. Talk to sales representatives in person and ask them which product will be reducing prices. I am pretty sure all goods are not in sale on Black Friday. The store people display them because they buy those goods in huge quantity.
Keep Your Ads with yourself - Now this is interesting. Same HP printer both Walmart and Target is selling. But Target is selling it at $10 discount. So until and unless you keep the ad with yourself as a proof wall-mart will not the match the price. So it is advisable to keep a copy of an ad with yourself.
Be a Gladiator and shop – Yes you saw it right. Place yourself in a war, a war of shopping. Consider yourself as a shopper with a mission. I will personally recommend that go for shopping with teenagers and not old people because they can run fast.
Take help from Big Boss i.e. Google – How can we forget our boss at this time. If you do not have time to go through the newspapers about the Ads, then please google it. You will get hundreds of websites with Black Friday sale information listed on Google. You can also view the websites of wal-mart and Target on Internet beforehand.
Make Friends with the Sales Associate - If you really want to get inside the scoop of everything, the most important thing is to befriend with the sales associate of the store. These sales associates are well versed with all the sales prices. They can easily get you from one department to another. Listen to their advice and then plan your shopping strategy.
The crowd outside wall-mart at 3 am last year
Just party dude – I don’t think you need a reason for partying. Most of us go in a queue at 3 am but we are afraid what if we are not able to wake up. The best advice is party late night. Finish the party and run to get in to the queue.
Do not get Tired soon – After partying all night you might feel tiring and all the enthusiasm before reaching the store is dead. Do not allow this to happen. Party for sometime. Do not have too much brandy or vodka.
Choose the best crowd – As soon as you reach the store you will find at least 5-10 queues. Choose the best crowd and go and stand with your feet positioned properly there with loads of oxygen. Do not get too excited. Do not allow anyone to overtake you.
Have a back up pay plan – It might happen that you reach the cash counter and credit card is rejected. So at that point of time you should have a back up of your money. Carry some good amount of cash with yourself so that you dont feel embarrassed infront of thousand people.
Cross checking is a must – Always before reaching the cash counter do the cross checking of your list. Make sure you have purchased everything and nothing important is left out. If you miss even one thing you have to wait until next year turkey day.
You have to be very patient to stand in that queue. My goodness!!! Crazy People
Okay I guess that is more than enough for you guys. If you really find anything else out of this list please do share it with me.
The only thing you can learn from these tips is Planning. You should plan your activities before hand. This will help you in saving hours, if not dollars when you are shopping with full stamina. Most importantly enjoy thanksgiving not only with your family members but with everyone you know.
God Bless all!!!
Our Day in the Sun
Nov 12th
Saving for the future can be a goal that is difficult to reach when it seems that everything is getting more and more expensive and salaries seem to stay stagnant. As we grow and our family size increases, we can get overwhelmed and often spend more than expected as a result. If we are even able to put money away, it seems as though we must tap that money way too quickly for our comfort.
the best financial tools to get some instant cash is payday loans
Sometimes, we think that using our credit cards is a good idea, and it can be, but only if we are able to pay off the balance before the end of the month. This action allows us to avoid interest that accrues on that balance and it is like using cash, but with a delayed payment. This can be good for those who may need a payday loan, but do not want to have to pay the fees and interest associated with them.
Payday loans can be good for some, as they will allow you to avoid the use of credit cards, which can be easy to not pay off before the end of month, resulting in interest and late fees if the minimum payment is not met before the due date. Consumers are often lured by promotions and low-interest credit cards and often sign up for way more than they need, which can result in mounting debt, which is no good for our financial health.
Payday loans with nationalpayday is just an another reason to smile 
By controlling our credit card use and instilling budget routines into our daily life, we can slowly regain our financial health and remain on track to successfully save money for the future. Retirement is very close for many of us and we may feel that we are just not ready to do so, but by budgeting and controlling out-of-control spending habits, the sooner we can retire to spend our later years relaxing and soaking in the sun.
I seriously hate when people ask me about my Salary
Nov 7th
I don’t understand why people keep on asking me about my salary. Are we helping each other with any monetary transactions? Are we best friends? Are we relatives? If not then trust me it is really pissing me off. I wish I could have said this straight on the face, but unfortunately I cant. But trust I am happy in my own way.
I am always ready for open discussions related to finances but how can someone ask anyone about their salary.
It may sound a little weird from someone who keeps on writing articles on finances, but I really feel not to disclose few of my personal things like passwords and salary. The trust factor plays a very important role here. I can discuss this with my wife (I am single as of yet) but not with my friends, not even with close ones. I simply cannot trust them.
If someone comes and ask me about anything, I always welcome them. I can give them my opinion 100 % because I dont care whether you implement my suggestion or not. Maybe I do not the answer but I will definitely participate in the conversation. There are certain appropriate and inappropriate time to ask about the salary for anyone. And that is why I decided to write this post and let everyone know my preferences of when you should ask me and when you should not ask me about my salary?
Let me first discuss the Appropriate times:
1.) Human Resources: If you are my boss or my CEO, I would definitely tell you my salary figures without even hesitating (although you must be knowing it!)
2.) At Job Interviews: Please ask away! You have full authorities to do that and I have got no option that time. I have to tell you the exact figures.
3.) To my financial Adviser/consultant/Accountant: I guess he/she should know this, then only they can manage my finances well. You should never hide your finances from your accountant.
4.) when I am with my wife: She should know what I am spending on and where? Right? I guess she has full rights to do that. Always share your financial background with your to be so that there is no confusion later on.
5.) I asked you first situation: I am always open to tell you when the situation is like I have asked you about the salary first. You answer me about your figures and I will do the same.
I guess these points are more than enough when I am OK to share my salary. These are just my opinions, maybe others are not satisfied with my points (As if I care).
Now for some inappropriate times when please don’t even dare to ask:
1.) When we are not talking about any monetary transactions: Why shall I even tell you about my salary when we are busy discussing about the baseball match?
2.) When I don’t even know the person: It might happen that someone stands in front of your face stands up and ask you. Whats your payroll buddy? What crazy, cmon mind your own business dude.
3.) when talking with co-employees: keeping the bosses and HR aside, there are number of people who will interested in knowing about your salary and especially those who are sitting beside you.
4.) when you are traveling in a metro, train or anywhere there are hundreds of people around: I am comfortable in sharing with you but not with those hundred eyes balls staring at you. I am not at all ready for this.
I guess there is a wrong and right way to ask and also how much one can ask. If you know these points I am sure you can understand when the person is interested in answering you and when he is not.
Why Financial Institutions are learning Bad Habits from Walmart?
Oct 10th
Here financial institutions can be anything like bank or may be any government body. And please remember that I am not talking about the customer care services of these institutions which are going down the toilet. I was just wondering why every company all of a sudden started offering imaginable services to its customers. Do you have an answer for this?
Walmart from outsideLets take an example of a bank. They started providing services such as credit cards. As soon as credit card services became popular they started offering self services brokerage services to their potential clients. Have you heard about Etrade brokerage firm? I am sure you have. They have started a services like checking saving accounts of their clients and offer cash back credit card services which is like a very bold step taken by them.
I was just reading a magazine this morning and in one of the advertisements I saw that American Express has now started their personal savings account services and Financial Institution like Discover has started their own online savings account department. No matter what services they are offering to their clients, at the end of the day all the financial institutions will be same. There was a time when these institutions used to portray a model of knowing things well and doing it better than anything else. All in vain.
I was shocked to see this
I visited a bank (will not mention the name for obvious reasons) last weekend. Can you imagine a banker who himself doesnt have any idea about the products he sells in the bank. I went to open my business account and had to change it twice in order to know the exact account where I am not charged any fees. The banker did not provide me with any information. But I somehow found it myself only with the help of their website.
Bank of America handling more than million potential customersThe bankers act very smart. To get rid of customers like me they ask you to call the other department because they know they cannot help you in any way and it will make a negative feedback on them.
When we enter these banks for the first time they offer us some amazing services which we are not bound to avoid at any cost, but once you become their customer all the financial institutions become the same. This is now happening with all the industries including banking sector.
What do you think in case of Walmart here? They really played a safe game. First they ignited the competition and then later drove all the small stores out of this business. Superb business strategy. When it comes down to money we all have to take extra precautions.
What do you think of these financial institutions? Are you really satisfied with their performance? If not Why?
