Finance

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Day Trading 101: Are You an Analyst or a Trader?

Posted by on 22 Jun 2012 | Tagged as: Finance

There is a lot to learn when it comes to being a successful day trader. Many people get into dray trading (or consider it) because they think that it is a quick and convenient way to make a lot of money in a short period of time. However, the opposite is true. To make a lot of money day trading, it takes serious time, training, patience, and practice. There are also different aspects of the trading process, and it is unlikely that you will be great at both. For example, in order to trade, you must be able to analyze the market to determine which trades to make, and you must also be skilled at managing the trades, themselves. These two functions are referred to as analyzing and trading. Are you and analyst or a trader? Read on to figure it out:

What does an analyst do? There are two types of analysis: fundamental and technical. Both are necessary to successful trading. Fundamental analysis requires that you study what is going on in the particular market sector that you wish to invest in. For example, if you are looking into pharmaceutical stocks, then you will need to read magazine articles, study company accounting records, read the news, listen to experts in the financial market, and do anything else to size up what is happening in the pharmaceutical market. Technical analysis involves reading stock performance charts to watch stock movement; this movement is used to identify patterns that can help you predict where a stock will move to next.

What does a trader do? The trader is the one who is actually responsible for purchasing and selling stocks. While this may sound simple, it is actually quite complex. A good day trader knows when to purchase, for how much, and when to cash out. The day trading market moves at lightning speed, so traders must be able to think and act very quickly. They cannot afford to get caught up in emotion, and must stick to a carefully thought-out trading strategy.

Because it is unlikely that you will be strong in both analysis and trading, you need a viable solution that enables you the advantages of both. One of the best ways you can overcome this challenge is to find a trading partner that balances you out. If you are good at market analysis, then you need to find someone who is get at trading, and vice versa. By approaching trading realistically like this, you stand to make a considerable profit in the fast-moving world of day trading. Make sure you are studying day trading with Tim Sykes and other successful investors so that you can get a better understanding of the market, what works, and your unique position within it.

Saving money on airport parking

Posted by on 23 May 2012 | Tagged as: Advice, Finance

Saving money on airport parking

If you’re planning a trip abroad don’t get stung by expensive airport parking costs and make sure you pre-book using an airport parking comparison website. The rising cost of airport parking is becoming more expensive than even the flights themselves. There are various ways to combat this and avoid the expense:

  • Make sure you plan ahead. Planning ahead can save you hundreds of pounds. If you just turn up on the day you will pay the maximum amount. By booking online beforehand you will get a much better deal.
  • Use an airport parking comparison website to compare parking companies. Comparison websites allow you to compare prices across a range of unconnected companies and find the cheapest deals.
  • Avoid busy periods if you can. Parking at an airport will be considerably more in the busy holiday periods than at off peak times.
  • Book in a car park which is off-site, away from the airport. Offsite car parks offer the best value and are usually far cheaper than parking closer to the airport in an on-site parking facility.
  • Use a park and ride airport transfer parking service. Meet and greet parking is generally the dearer option and park and ride usually the cheaper, although there can be exceptions occasionally.
  • Use an airport parking discount code. Discount codes are available through a number of comparison websites and can be obtained by signing up for the site’s newsletter.

Consider not taking your car. This seems obvious but there are a variety of other options which you probably haven’t considered:

  • If you’re not that far away from the airport consider booking a taxi. Get a quote beforehand and compare this with other options.
  • Public transport is not always the most convenient option but might be a solution depending on your situation and which airport you are flying from. Airports such as Gatwick and Heathrow are continually encouraging public transport routes and their use is on the rise.
  • Park in my drive companies have list of people who live close to airports. These ‘locals’ hire out their parking spaces, drives and back yards for holiday makers and commuters and often run a taxi service in with the price.
  • If you’re a biker consider taking your motorbike instead of your car to the airport. Parking is much cheaper and although this will definitely cut down on your luggage capacity, it is a real option if you’re a light travelling biker!
  • Ask a friend to take you to the airport. This seems obvious but you probably know someone who would be happy to help. In return you could offer to do the same for them.
  • Car rental companies allow one way car rental. This means you can have a car brought to your house and drive it to the airport where you can simply ditch it! Providing of course the rental company agrees! Often airports have their own on-site car rental companies. This option can often be much cheaper than airport parking.

Tim Halloran is a writer for Looking4parking, an airport parking company based in Leeds offering nationwide airport parking comparison. Try their Leeds Bradford Airport parking if you’re in the area and be sure to use an airport parking discount code.

Money-Saving Tips to Save You from Financial Anxiety

Posted by on 21 May 2012 | Tagged as: Advice, Finance

Are your financial obligations giving you headaches? Do you find it hard to sleep at night when you run out of money and the payday is still several days away?  Well, if you think that you’re at risk of suffering from financial anxiety better learn some money-saving tips.  If you stick to these money-saving tips you will be able to spare yourself from any financial woes.  Below are some money-saving tips that you can make use of in your daily living:

  • Don’t keep on buying cooked foods outside.  Take the time to cook your own meals at home.  As you are already aware of, precooked and prepared foods from restaurants are more expensive.  If you will be staying in the office all day, prepare something for lunch as well and just place this in your lunchbox.  This will spare you from having to spend another amount of money to buy expensive foods outside.
  • Prepare your own coffee at home.  You should learn to resist the impulse of buying coffee at Starbucks or any other coffee shops as much as possible.  Grab your coffee powder and turn on your coffee maker. After several days, you’ll realize that you already have saved some amount of money as compared to just buying coffee from coffee shops.
  • Stick to your shopping list.  Don’t just go to the grocery store and grab anything you can think of.  Make a list at home of all the things that you NEED to buy.  Prioritize this list and only buy what you WANT when you still have some extra money after you have purchased the necessary things.
  • Watch out on your bills.  Pay these on time to avoid penalties and other charges for late payments.  Place your notice of bill payments in a conspicuous place at home so you could see them easily and be always reminded of its due date.
  • Be wary of ATM fees.  Make sure to withdraw money only from your bank’s ATM machine.  If you use other ATM machines you are at risk of being deducted large amounts for transaction fees.
  • Stop purchasing books or end your magazine subscriptions when you rarely have time for reading.  Most of the time, these magazines and books do not add knowledge to your brain as you don’t have enough time to read them anyway.  It only adds up to your financial anxiety and clutter at home.
  • Disconnect from the outlet those unused appliances.  Some people make it a habit to just turn their appliances off without exerting an effort to unplug it from the outlet.  This can result to higher electric bills.
  • As much as possible don’t go out with friends too often.  Once a week will do.  But, if you go out with them every night, or on alternate days, you are at risk of spending more money for a drinking spree and for buying foods outside.

5 Best Ways To Make Money Online

Posted by on 23 Apr 2012 | Tagged as: Finance

While we are all aware there are ways to make money online, here you will find five best ways to make money online. If you want to earn extra money or you are a stay at home parent, these five ideas are targeted at different people with different personalities and could be the right solution for you.
Here is the rundown.

Your Own Website

Creating your own website is much easier than it was a few years ago. If you can create a YouTube page or a Facebook page, it is not hard to build a website. No longer is it necessary to be a web design expert or even know HTML code. Most website builder software is now very easy to use. You can have a website to sell either affiliate products or your own products.

Online Gambling

Professional gamblers can make a good living with online gambling casinos. There are many different types of systems available that practically guarantee a win in games like Roulette. If you think you’re good at poker, you have a good chance of winning with online gambling.

YouTube

You can even use YouTube to make money. You don’t have to be a professional musician either. Neither do you have to upload videos of your children or pets. YouTube can be used to inform others. You can choose a subject you already know a lot about or something you think others would be interested in. You do not even need to make videos of yourself. PowerPoint can be used to present all of the information. Once you have your own page, it is easy to monetize it with affiliate links, ads or links to products you would like to promote.

eBay

eBay has been around for quite some time and during that time it has accumulate an excellent reputation. Some figures suggest there are nearly 20 million people who visit eBay each day. What items can you sell? The options are unlimited. Digital ebooks. Photos. You don’t even have to stock an inventory. Browse eBay to get some ideas and begin making money.

iPhone Apps

iPhones have exploded into popularity along with other ‘smart phones’ but did you know that apps are just as popular? Apple recently announced there are more than 306,000 apps available and more than half of those are paid apps. There is definitely a market for apps and it is not even that hard to create one. Once you have your own app, you have a viable market.

The Mindset You Must Take to Have a Successful Law Firm

Posted by on 07 Apr 2012 | Tagged as: Business, Finance

The thing that kind of sucks about being a lawyer trying to open a law firm is that you don’t really get any training for opening and running a successful law firm. In law school there are no or few classes targeted specifically to opening a successful law firm, and most of the classes that are offered focus on things like what type of business you should form and whether or not you should have an actual office or a virtual office. The fact of the matter is, if you want to open a successful law firm, you’re going to have to learn how to do it on your own.

I know this because I’ve done it. Only a few short years ago I was just a Salt Lake City DUI lawyer. Now I’m a law firm owner. And there’s a big difference in that – and that is what this article is about.

What we’re talking about here, as the name of the article implies, is the mindset you must take to have a successful law firm. The mindset, by the way, is not the same as that of just an attorney. It’s, in fact, much different.

To illustrate the point, just think about this – what is your main concern when you are a lawyer, DUI lawyer or otherwise? It’s doing legal work, right? Someone places a problem in front of you and you work to get the best resolution you can. The better resolutions you get, the better people think you are as a lawyer. Knowing that, do you think that is the same mindset a law firm owner has? I’d say no, not even close.

Where I think a lot of people get in trouble is they don’t go into law firm ownership with an entrepreneurial mindset. You can’t think like an attorney – you’ve got to think like a business person. Most attorneys just think “if I do good work, I’ll get more business.” It’s sad to say, but that’s the dumbest thing you could think if you were a business owner.

When I opened my law firm I had to switch gears from DUI attorney to businessman. I had to think not, how can I be a good attorney, I had to start thinking if I were someone that needed a Salt lake City DUI attorney where would I go to find one and what would I be looking for? When I started answering those questions I started going down paths that I never would have gone down as just a lawyer.

Bottom line, if you’re opening a law firm or you already own one, the faster you can get out of the lawyer mindset and into the entrepreneur mindset the better. That’s the key to success.

Flexible Employee Benefits Can Be Tax-Efficient

Posted by on 02 Apr 2012 | Tagged as: Finance

Today, a broad array of employee benefits is made available by many employers to their valued employees. In recognition of the significant role that an employee’s well being plays in the corporate world has paved way for more types of benefits that employees and employers can choose from. Apart from the core benefits such as health insurance, retirement plans, disability insurance, paid vacation and others, there are also flexible employee benefits that many are taking considerable thought these days. Due to their relative appeal to both employees and fit employers, they are increasingly becoming a popular trend among the types of employee benefits.

Employees opting in a flexible benefits package have the freedom to choose the types of benefits to include in the package. Also known as flex plans, flexible benefits plan offer tax-efficient solutions to employees and employers as it allows for allocation of pre-tax dollars to pay for eligible expenses that are not covered by medical insurance premiums.

Flexible employee benefits that are tax-efficient typically include:
· Childcare Vouchers
· Mobile Phones
· Bikes for Work
· Health Screening

How can flexible employee benefits plan be tax-efficient? Flex benefits scheme typically offer benefits through salary sacrifice arrangements. Through this scheme, employees give up their right to receive a part their salary in exchange for benefits that they can avail through a flex benefit plan. This way, their gross salary will get deducted depending on the amount contracted by the employees. Only after deductions from benefits will employee salary be taxed, resulting in a tax discount and thus, savings.

To make things clear, flex plans are plans that also offer employer-paid benefits that employees can choose to opt in or out of. Apart from this option, employees are also given a choice to select employee-paid benefits, which are tax-efficient as they are often through a salary sacrifice scheme. Lastly, if employees do not want to avail of any benefits that are offered in the flex plan, they have the option to take cash instead. While the employee-paid benefits are typically tax-efficient benefits, the other options in the flex benefits plan remain to be taxable.

In recent years, flexible employee benefits plans have been increasingly popular due to the tractability they allow employees in selecting the benefits they want to receive. Since there is no point in availing of numerous benefits that will end up not getting used, flex plans offer the best option for both employers and employees. Apart from the possibility of better staff retention due to this particular strategy, gaining tax savings should fit the bill.

Check out small group benefits Calgary for more information.

Do You Need an Instant Online Payday Loan?

Posted by on 26 Mar 2012 | Tagged as: Finance

In today’s modern and advanced economy, there are now more ways than ever for consumers to acquire financing, loans, and lines of credit. Nearly every major purchase can be made on credit today, from tuition and fees at the local university to a brand new vehicle! When consumers have financing more available to them, they are more likely to make large purchases, which helps to generate an influx of cash into the economy. This method of stimulating economic growth by lowering lending standards is often called “Reaganomics,” as it was pioneered by President Ronald Reagan during his presidency. The increased availability of different types of lending also allows consumers to make purchases without upsetting their savings accounts.

This means that consumers are more likely to have a certain amount of money saved up in case of emergency, as they would not need to distribute these funds when making a purchase on credit. However, the more lines of credit that consumers take out, the more important it is for the consumers to maintain a steady job. Without a steady income, they may be forced to miss several of their debt payments. However, with an instant online payday loan, consumers can temporarily increase their cash holdings in order to remain current on their regular debt payments. The instant online payday loan is a type of financing that is often called a cash advance. An advance, in the financial sector, refers to a line of credit that is issued to a consumer who is expected to receive a similar income in a short period of time.

For instance, if the consumer is generally issued a monthly paycheck of $5,000 from his or her employer, the payday loan lender will approve the consumer for a cash advance of $5,000. In essence, the instant online payday loan is a way of allowing a consumer to receive his or her paycheck earlier than expected! When a consumer is balancing several debt burdens, it is often necessary for him or her to rearrange their personal finances in order to make sure that each payment is made on time. This is because if the consumer makes their debt payments late, the lending institutions or credit card companies will charge extremely high fees to his or her account! The consumer can avoid these extra charges and possibly an increase in their interest rates by taking out a cash advance from a local payday loan lender. Because consumers today are often extremely busy balancing their personal lives with their professional employment, it is often more convenient for them to apply for financing, pay their bills, and shop for products and services on the internet.

This is why today’s payday loan lenders are offering to issue different forms of financing online, such as the instant online payday loan. In order to apply for the instant payday loan, the consumer will need to upload a copy of one of his or her pay stubs. The pay stub is the section of the consumer’s paycheck that details how much the consumer is receiving as compensation from their employer. This document will help the payday loan lender understand how much the consumer will be able to pay back once their regular paycheck is received. Because the payday loan lender does not require a stringent screening process when evaluating consumers for an online payday loan, the consequences for paying back this debt after its set due date will be extremely high. The short term loan period will also affect the interest rates charged by the payday loan lender, so the consumer should be prepared to pay back their total debt as soon as he or she receives a regular paycheck.

7 Mobile Applications to Improve Your Credit Score

Posted by on 21 Mar 2012 | Tagged as: Advice, Finance

If you think you can maintain a good credit score without any efforts, you are mistaken; it requires serious focus and determination. Your credit score is considered for enrolling in a college, getting a job and many things alike and so you need to work hard to keep it looking good. Timely payment of bills and less or no debt are some of the things among others which are important to keep your credit score positive. This requires personal efforts and probably a little external help, so here are some of the mobile phone applications which are programmed to assist you to improve your credit score:

  • myFICO: This application is designed and made to work on apple products like the iPhone, iPad and iTouch. myFICO asks 10 questions to correctly determine your credit score. It is a free application though for the same work FICO charges about $20. You can download this application for free and usually has a high percentage of accuracy. Some of the questions asked are: ‘How old is your loan?’, ‘When was the last payment missed?’ and ‘How many credit cards do you use?’ and others to assess your FICO score. And finally a score is calculated for you to exlaim, “Here’s my FICO score, for free!”
  • Equifax Mobile: This application has a dual benefit. It tells you how your credit score is and also safeguards your identity. Using your GPS location, it analysis the rate of credit fraud in your area. If the results are high, you should be probably using your cards cautiously. It also tells you how your credit score stands as compared to others in your locality. This application can be downloaded for free as well and is compatible on iPhone, iPad, iPod Touch and Android users
  • Debt Reduction Calculate: By using this application, you can improve your credit score multifold. Since the credit score is directly proportional to the amount of debt; the lesser the better. This application helps to calculate how you can save money by just paying an extra than the minimum on credit cards and also gives you monetary tips to repay your debt as soon as possible. You will see a noticeable improvement in your credit score after using this application! You can download this application on your iPad, iTouch or even an iPhone!
  • Pageonce Personal Finance: This simple app has a great result on your credit score. If you are of the forgetful kind, this app is the best for you. With alerts and reminders, you cannot forget to pay your dues on time! It monitors your financial transactions and assists you with paying the bills on time. You can use this application on all apple products as well as android phones.
  • BillTracker: Another application which will never fail to remind you about paying your bills. Since a good credit score is determined by how well you pay your dues on time, this app corrects any default in this process. From your insurance premium to mortgage bills, this app can track your payment history and manage your bills. You can get BillTracker on your iPhone, iTouch and iPad for an optimum charge.
  • Pay Off Debt: With this application, keeping a check on your debt becomes easy. This app sees to it that the debt does not pile after a certain limit. It helps you to pay your debt in an organized manner. Starting with the lowest valued debt, it motivates you to slowly make all your debt vanish!
  • CreditScore.com Mobile App: You will be able to receive timely reminders and tips on how to effectively improve your credit score over the time. These expert tips help you manage as well as correct negative credit score and gives it a major boost! Download this application free of cost on your apple products now!

Understanding Different Jumbo Mortgage Rates PA

Posted by on 13 Mar 2012 | Tagged as: Finance

In order to make a large purchase without risking the status of their savings account, an individual will need to work with a credit union or bank of their choice. There are many different ways that the individual can finance their purchase, such as credit cards and loans. Each of these options has various benefits and downfalls. For instance, the benefit of making a large purchase with a credit card is that the individual will have a very lenient payment schedule. The individual may also earn various rewards or points with their lender that they can use to acquire gift cards, airfare tickets, and other items.

However, the interest rates offered on credit cards are generally much higher than those seen on auto loans or home loans. This is because of the ease of use and flexibility of making purchases on a credit card. Because the consumer can rack up debt on a credit card fairly easily, the lender needs to secure their investment with higher overall interest rates. If an individual decided to purchase a home, but had no previous experience with personal lending, they would need to make an appointment with their lender to discuss their jumbo mortgage rates PA. The jumbo mortgage rates PA that the lender assigns to the home buyer’s mortgage agreement will have a variety of effects on the overall economy, as well as the borrower’s personal finances. In general, the lower that the average home loan interest rates are in a national economy, the more loans are expected to be issued to consumers within that jurisdiction.

This is because the lower the interest rates are, the more money the average consumer will save on their various purchases. Through this theory, the federal government can actually manipulate the spending habits of its constituents by raising or lowering the interest rates of the Federal Reserve. The task of raising or lowering the Federal Reserve’s interest rates will trickle down through the economy, affecting the average jumbo mortgage rates PA that an individual lending institution will issue to their various borrowers. This is because the lending institutions themselves acquire a good amount of their own funds from the Federal Reserve through loans.

Therefore, when the Federal Reserve lowers their interest rates, the costs of borrowing from the Fed are lower for each bank or credit union. As a result of this lower cost, the financial institution will now be able to afford to lend out their funds to individual home buyers for lower jumbo mortgage rates PA. By lowering their home loan interest rates, the financial institution will hope to entice more consumers in the local area to borrow funds and make purchases. The more that local consumers purchase large items like homes, properties, and vehicles, the more money is flooded into the economy, which thus stimulates overall economic growth. Through this close analysis of how the interest rates offered by the Federal Reserve affect the individual consumer, we can see that growth in the economy can be manipulated by altering the lending rates of the Fed.

By reviewing this example, one may wonder why the federal government would ever decide to raise the interest rates of the Federal Reserve. While the cases are rare in which these interest rates will be raised, it is not unheard of. This is because if the economy is flooded with too much cash, the national currency could possibly fall in value due to inflation. Therefore, in order to decrease the amount of cash that is circulating through the national economy, the federal government will raise the interest rates offered by the Federal Reserve, thus decreasing overall consumer spending.

Government Bond Investments

Posted by on 08 Mar 2012 | Tagged as: Advice, Finance

Investing puts your money at risk. Ideally, you will always earn the highest return possible on all money you invest, but there will always be the chance that you break even or lose money. That is why it is so important to diversify.

What does it Mean to Diversify?

Diversification is when you spread out your investment dollars among a variety of different securities such as stocks, bonds, and commodities. Learning how to invest in a diversified portfolio will help reduce the overall risk. Also, you can invest some money in riskier investments such as trading in the stock market using technical analysis and invest some in much safer investments like government bonds.

What are Government Bonds?

Bonds are issued by entities to raise money. It is a loan. When the bond matures, the investor gets their money back and interest on top of it. Government bonds are bonds issued by federal, state, or local governments.

Local Government Bonds

Local government bonds are considered the most risky among government bonds. Local governments are similar to corporations because they can go bankrupt. They are run similar to a business. However, local bonds, called municipal bonds or munis for short, are tax free. In other words, all the money you earn through most munis you can keep. You don’t have to pay taxes on any of it. That effectively raises the rate on the bond in addition to the existing interest rate making it more attractive to investors.

State and Federal Bonds

There are a variety of different state and federal bonds including TIPS, and Treasury bills, notes, and bonds. You can purchase them and hold onto them or trade them like corporate bonds. These bonds are great investments because while they usually don’t have a very high interest rate compared to corporate bonds and stocks, they are less risky because of it. Use these bonds for diversification.

Savings Bonds

Most of us are most familiar with U.S. savings bonds. This is what we think of when we hear “government bonds”. Such bonds include I bonds, which sell for face value, and EE bonds, which sell for half face value. These are commonly used as gifts for new babies, graduations, baptisms, etc., but they can be part of your portfolio as well.

Where to Purchase Government Bonds

EE savings bonds can be purchased through your local bank. I bonds used to be sold at financial institutions but have since been discontinued to encourage people to buy bonds online. Banks carry order forms that you can fill out and then have the bonds mailed to your home or to a recipient if you’re giving it as a gift. For the other types of bonds, you can purchase them at treasurydirect.gov. You can also buy savings bonds there. This is a simple way to invest because you can keep all your government bonds in one place in an account.

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