October 19, 2016
Budgeting doesn’t need to be hard. It can be as simple as you want to make it. However, there are a few things that you can do to make sure you have a positive experience with your budget. Here are four tips to make sure you have a great experience and start to feel the “magic” of budgeting.
Tip #1 – Write it Down
Budgets can come in many shapes and sizes. They can be created for individuals, families, and households. You can even create them to help you find the funds to go on a service mission, have a wedding, or have another specific event. The biggest issue, however, is not that people don’t want to do a budget…it’s that they never write it down. Writing it down brings a level of commitment. Putting it out on paper or a spreadsheet, or even using an app of software allows you to see it and commit to it. So take a second and write your budget down, if you haven’t already!
Tip #2 – Create a Savings Plan
Along with a budget, consider having a separate document that goes along with your budget that will work hand in hand. That document is a savings plan. Creating a specific savings plan will enable you to keep your mind on the long game… that is saving for the future and for future emergencies. It doesn’t need to be hard. Just specify how much you want to save and then make specific, action goals so that you can make sure and accomplish what you are striving for.
Tip #3 – Make Goals
Speaking of goals…while you are writing down your budget and savings plan, make sure that you make S.M.A.R.T. goals. Specific, Measurable, Attainable, Relevant, and Time oriented. Setting goals allows you to look into the future and make plans. It will also become a benchmark and allow you to feel successful when you hit those goals. Look at the next six months or a year and make some goals and then do everything that you can to strive to hit them!
Tip #4 – Keep the Long Term in Mind
We all have times when we have an emergency or situation in which we need to spend money to survive. Whether it’s medical bills, or the car breaks down, we all have times when this happens. Don’t let it bother you. Pay what you need to pay, and then get back up and keep striving to hit your goals. If you can keep the long term in mind, then you will forever be able to accomplish your goals (even if it takes a bit longer than you thought).
If you can keep these four tips in mind, then you will have a positive budgeting experience. Put it out on paper, create a savings plan that compliments your budget, and make specific goals to help you get where you want to go. If something happens in the middle of your plans, keep the long term in mind. Following these four tips will increase your level of financial confidence and ultimately help you find financial peace in the months and years to come.
, financial planning
, personal finance
October 5, 2016
It is one of those timeless conundrums which has tested the thinking of man for centuries. If you had to, would you do something you know was very dangerous.
If you saw a child about to be run over, would you step in front of a car to save them? If you are dying of thirst, would you drink filthy water to survive? If you house is on fire, would you jump out of the window to escape.
We have all pondered these kinds of questions at some point, but fortunately most of us never have to contemplate the dilemma in reality.
But there are other everyday dilemmas that we do have to confront which, whilst perhaps not involving the same danger, can still expose us to significant risk.
One such example of this is when we use online banking. We know online banking is insecure. It doesn’t matter which bank you use, and how many trendy keypads and other gadgets they give you, we all know there is still a risk when we log into our online account which isn’t there if we want into a branch.
The popularity of online banking suggests two things about this. Either we don’t fully understand the extent of the risk, or we have decided it is a risk we are willing to take. For most of us, it is a combination of both.
But make no mistake, online banking does pose a significant risk. The level of security used by all banks is extremely weak and the techniques of online hackers gets ever more sophisticated. And often we don’t help ourselves, making basic errors like using easy-to-break passwords or logging on while connected to public Wi-Fi networks.
The ramifications if you are hacked can be significant too. Of course, you can lose a lot of money. However, as most banks will compensate you in those circumstances that is sometimes not a big worry. But going into overdraft or losing a sizable amount of money can affect things like your credit cards, and premium accounts you may hold, and of course run up charges with your bank that can take months to sort out.
Then there is your credit score. If you are hacked and miss payments as a result, it can affect your credit score which might cause you to be unable to get credit and secure mortgages and other financial services.
So, the question I am often asked is whether there is a way to protect ourselves when using Online Banking. Is it possible to make the process more secure?
Encouragingly, the answer is yes. And in this article I will give you my tips as to the top 3 ways to keep your online banking secure in 2016:
1. Use an ‘Anti-Spy Privacy Screen:
For all the high-tech ways that people get hacked these days, there are still a significant number of incidents where data is stolen simply by watching over people’s shoulder as they use their online banking account in public.
It might seem silly, but it happens a lot and it is unnecessary because there is a cheap and simple bit of kit which can prevent it: an Anti-Spy Privacy Screen.
There are available for all devices these days and work in the same way as a regular screen protector. However, they are a little thicker and a little darker, and this means that when you look at the screen of a device from an angle, you can see nothing.
Only the person directly facing the screen can make out what is there, so when you log onto your online banking on the go, you can be sure that the only person looking, is you.
2. Change your Password Regularly:
Passwords are another big vulnerability of online banking. Often they are easy to guess, simple to crack, and offer little or no real protection.
One way around this is to use a Password Manager such as Last Pass which can make it easy for you to use complicated passwords without having to remember them all.
But another relatively effective approach is just to change your password on a regular basis. If you are an occasional user, making a password change every few months is a sensible precaution, but if you are logging into your account regularly and from different locations, every few weeks would be more sensible.
3. Use a VPN:
Perhaps the most important tip on this list is to use a VPN. A VPN can help ensure your online banking is secure in a variety of different ways.
Encryption is vital to keep your data secure online and whilst all banks will encrypt their online banking data, some are more secure than others. A good VPN will ensure all of your online activity, including online banking is encrypted securely.
They also protect you when you are using public Wi-Fi. Again the encryption they offer means even the weakest of Wi-Fi connections becomes secure.
Indeed, VPNs are so good at encrypting your online activity that you can even access otherwise inaccessible online services, like being able to log onto Gmail while in China, where it is usually blocked.
With a VPN in place, and using these other precautions as well, you can be pretty confident that your online banking will be secure, no matter who you bank with.
, Financial Securities
, Online Banking
September 21, 2016
Experience is an important ingredient to success in any kind of investment trading. However, it is not the only thing that will enable you to trade successfully. Even if you have never trading in any financial market before, you will be able to quickly understand what is involved in this type of trading and start making successful trades. In essence all you need to do is calculate whether the price of an item will go up or down. Some of the best traders use the simplest strategies for binary options trading and have excellent results.
Long Term Investing
The most important part of binary trading is to learn which of the available strategies best meets your needs and risk tolerance. Once you have established this you will be able to refine and improve your technique and obtain consistent, favorable results. When first starting in this industry it is best to stick to an area you already know something about and to stick to one asset type:
Trading with the Trend
One of the most straightforward approaches is to look at a price chart and see which direction the price is current moving in. If the general trend is up then place a call option, if down go with a put. Most traders place a trend line alongside the chart; from this you should be able to pick a price that the asset will not reach and utilize the no touch trade strategy.
When the market is particularly volatile you may be expecting some rapid rises and falls in price. This chart will highlight when these events are likely to happen and allow you to trade accordingly. Alongside the usual price movement trades you can opt for a one touch trade where the asset drops (or rises) significantly and hits your expected price. This is higher risk but can be lucrative.
Sitting on the Fence
This is also known as straddling and is another good technique for a volatile market. Instead of trying to decode which direction a market is likely to move in you place two trades; one for it to go up and one for it to go down. The profit on either of these trades should cover the costs of both trades and generate a small profit. You are effectively decreasing your risk.
This is very similar to the straddling technique. However, with this strategy you need to place both trades, up and down, at the same time. You are guaranteed to get one of the trades right, but unlike the straddling technique you do not have a chance of getting both right.
This technique is very similar to the reversed risk approach, and serves to protect your funds and reduce risk whilst still generating a small profit.
An important strategy which should never be overlooked and works well in conjunction with any other technique is the analysis of the general economy and the specific situation of your chosen company. You will then be able to assess what the price is likely to do on the strength of the company and the economy.
We also suggest you to check 15 minute binary options strategy in order to rise the profitability of your trading.
Tags: Best Forex Trade
, Foreign Exchange
August 27, 2016
Graduating from a prestigious educational institution with specialized certification in accountancy? You are all set to bag your first job in your field of interest—accounting.
Applying for that dream job might be a tedious process and waiting for a call back after an interview might take several months.
Here are three of the most important things you need to take care of so you can bag a job before your potential rivals.
The first—and sometimes only—thing that a HR manager looks at to decide if you are worth hiring is your resume and remember you have only 6 seconds to catch their attention. As a fresher with no experience, you might not have much on there. This means you need to figure out what content goes in your resume.
Choose an apt font and size that gives it a classic and clean-cut professional look. With some research, you can find good resume keywords online, including those that help catch the attention of the hiring committee. Avoid using capitalized, bold, and italicised terms in you bio, unless absolutely necessary.
Pick the perfect type of resume that allows you to highlight your skills and specializations. Chronological, functional, and combinational are three of the basic types of resumes among a list of many others.
Use catchy subtitles. Construct lines effectively. Do not write more than two lines for any description, and keep the language stylish yet simple. Watch carefully for grammatical errors.
Make sure you don’t go overboard with any of these tips. Your resume should portray effortless efficiency. Also, try to keep it within 2 pages.
Once your resume is selected, you’ll have to face the interview. Most people get nervous and anxious, and tend to mess up their interview despite their calibre and talent. This is mainly due to lack of preparation. Even though most interviewers expect you to be street-smart, a thorough knowledge in the field of your choice is also essential.
You are spoiled for choices when it comes to resources—be it online or offline—to help your prep for the interview. You can easily find blogs that give out frequently asked interview questions in a finance interview.
Apart from preparing for these questions and brushing up on your syllabi that was covered over the many semesters, you should also have a brief knowledge of software like ERP accounting software and business management software that are in trend, and are used by most organizations.
Knowledge about current affairs and the latest accounting standards is also an absolute necessity.
To crack any interview, confidence is the most important factor. Your body language plays a significant role in cracking an interview. Even small signs of nervousness or uncertainty are caught during the interview. Stay confident right from when you send out your resume. The process might be a time-consuming one, but leads to success.
With some motivation, patience, and making smart choices while displaying your talents, landing your dream job is a piece of cake. Use these tips, and an accounting job is in the bag!
August 10, 2016
Many homeowners have a considerable amount of cash tied up in the equity of their homes – that is, the value of the amount of the home they own, less any outstanding mortgage or loan.
Not only is it possible to release that equity – to enjoy its present cash value – but more homeowners than ever before appear to be choosing to do so. This is a conclusion drawn in a story published in the Guardian newspaper on the 25th of January 2016.
During the course of 2015, a record 22,500 equity release agreements were made, representing a return to the nation’s homeowners of a total of some £1.61 billion.
How do I know if equity release is right for me?
Probably the single most informative source is an online equity release calculator. It might be the best step to gaining some idea of what equity there may be in your home that may be released, depending on the value of the property and your age (you need to be 55 or over to qualify for any equity release scheme).
Combine an equity release calculator with a comparison website which shows the various interest rates currently offered by equity release providers and you may get a pretty clear idea of whether to take things further. There is generally no limit on the number of times you may use the same calculator.
There are any number of such online calculators and it might be difficult knowing which one to choose. Some of the things to look out for when choosing one, therefore, might include:
- how much equity you might be able to release, the interest rates governing the various schemes on offer and what the impact is likely to be upon your estate;
- whether the provider is a member of the Equity Release Council – since this guarantees a certain number of safeguards built into any agreement; and
- whether the site providing the calculator also offers a detailed guide on how equity release works and the arrangements that might be made to answer your queries and discuss your concerns directly with any provider.
Types of equity release
Using an equity release calculator is only the first step in what is invariably a complicated process, involving very serious decisions about the home in which you live, the funds it might unlock and the impact any agreement has on the estate you may pass on to your surviving dependents and relatives.
This makes it important that you seek the advice and guidance of a specialist in the provision of equity release agreements and embark on a learning curve that might lead to your understanding of the two principal vehicles for equity release:
- home reversion – this involves the sale of a proportion of your home to the equity release provider, so that you become a co-owner, but may continue to live in the dwelling until your share of the property is sold upon your death or when you move into long-term care; or
- lifetime mortgage – this is probably a more popular arrangement than home reversion and allows you to make a more reliable calculation of the costs involved. A lifetime mortgage is similar to a regular mortgage, but you make no repayments on the advance, which continues to attract interest in the normal way. The mortgage is repaid from the sale proceeds of the property when you die or move into long-term care.
The use of an equity release calculator may be enough to set you off on the road to unlocking some of the wealth tied up in your home.
, financial planning