Best Finance Network
Get the best connectivity about finance.

You must act responsibly when you reach adulthood. There are numerous problems in student life, and it is important to manage one’s finances. Many students get burdened by excessive bills and school loans, and as a result, they suffer from a variety of physical and mental health issues.

Such problems can only be overcome if you are properly guided. Be aware of the key elements that will assist you in achieving financial freedom. You may have read several articles written by an expert essay writer to provide you with useful advice, but here are some of the most effective and practical strategies for dealing with such problems.

5 Best Tips to Solve the Financial Issues in Your College Life

Have a look at some of the quickest and most useful tips to get rid of any financial issue you might be facing during college life:

1. Make a Careful Budget Plan

You should make a budget plan that has been designed by understanding all your requirements. Being conscious about your weekly or monthly expenses saves you from a lot of crises. It is the smartest way to keep your finances in check and you can then balance life accordingly.

Instead of spending your money on extravagant events and activities, try to make investments at essentials. It does not mean giving up on what you enjoy doing but do not make it a habit of wasting money on lots of such activities. The plans you make in your early years affect your life later so think wisely before you decide to make investments.

2. Be Financially Literate

Being aware of the benefits of saving money for the future is equally as vital as the formal education you acquire in your subject of interest. When you follow efficient money habits, you live a well-planned life and hardly face any difficulties. You start developing strategies to have more than one source of income to remain financially stable.

It trains you to remain alert for any kind of risky circumstances and save money accordingly. Not every student is born with the privilege to have financial support from family and some have to struggle hard to keep up with their needs. Therefore, financial literacy is an absolute must to live a balanced life.

3. Get a Part-Time Job

It has become quite easier now to pursue your career goals while being a student. The part-time jobs have made it easier for a lot of people to work for fixed hours and manage life in a balanced way. There are many skills one can acquire through free and paid online courses like graphic designing, website development, social media marketing, etc.

If you have some in-built skills like passion to write or do some artistic activity, you can practice those skills professionally by doing freelance jobs. You can do these jobs on a remote basis. So, you can manage a part-time job efficiently along with your studies.

4. Avoid Useless Investments

College life is full of exciting adventures and many adults develop an urge to waste money on various activities. You should have a mature mindset that guides you to save your finances by cutting out costs where feasible. You can do it by identifying the products or services that are no longer needed and still have to pay for them.

You can keep a track of your investments by installing various apps on your phone. It helps you become more efficient and organized while taking up financial responsibilities. Various institutes also offer financial aid plans for assisting in lessening the burden of students.

5. Apply for Scholarships

Make sure that you are giving your best effort when it comes to studies. When you score well and come on merit, you become eligible to apply for scholarship opportunities at your desired institutes. When you are confident in your credibility, you can easily plan and explore the chances that suit your preferences.

Applying for scholarships has become quite easier due to the online application process. You just need to explore the website of an institute and fill in the form given under the scholarship section by providing the required details. Many instructors also guide students with such procedures and help them pursue their dreams.

Conclusion

You will never regret planning your financial budget properly and taking charge of your life. When you attain financial independence, you can easily deal with many issues in your college life. By applying the tips given above, you can set your goals and plan everything wisely.

Trading is all about risk vs reward. It is because trading without leverage increases potential rewards exponentially. Still, the same multiplier applies to losses, meaning that should the price suddenly move against you, your loss will be exponentially more significant than your profit should the price suddenly turn around in your favour.

Position trading is one of many forms of trading available and falls under the umbrella of ‘algorithmic trading’. Position traders make trades on a slower time scale than day-traders or swing traders – using indicators that give them buy/sell signals at longer intervals (orders can last for months rather than minutes).

Indicators that are used include moving averages, Ichimoku Clouds, Bollinger Bands and RSI. A typical position trade will utilize all of these indicators to give a buy signal at the lowest point in a downward trend and a sell signal when prices return to an upward trend after touching the bottom of a downward one.

Once you have your signals, you’ll need to make sure to place an order with your broker. It is where things get tricky for new traders – most brokers only accept market orders, not limit orders.

Market Orders:

A market order will execute an order at whatever price it finds on the other side of the trade – so should you put in a market buy order when RSI is giving an oversold signal. Still, someone has already put in their sell-order at the current low price; then your buy-order will be executed at this ‘market’ price, not the price you set when placing your order.

Limit Orders:

A limit order is where you set a take-profit or stop loss for your position and only execute the trade should prices reach this point. For example – if RSI is giving an oversold signal, Bollinger bands are tightly around the current price. It’s not safe to place a market buy order yet as there could be considerable downside before any upward trend begins. Instead – try putting in a limit buy order at 1% below the current market value. This way, if prices drop suddenly due to news etc., your position will only be executed once markets return to their normal range.

Common Position Trading Strategies

Traders who use position trading methods can focus on the long-term picture rather than reacting to short-term market noise. Position traders disregard minor trend fluctuations. Therefore they need strategies that are rooted in rationality and analysis.

Breakout Trading Strategy

Traders in a breakout trading strategy wait for the price line to cross a support or resistance level. When the overhead resistance is broken, the trader enters an extended position. Conversely, when the price breaks through the support line, he closes his trade. This trading technique will pay off if you are adept at detecting recurring support and resistance levels.

Pullback and Retracement Trading Strategy

The fact that traders use pullbacks to plan entry demonstrates how important they are in the market. Traders look for pullbacks in their trading techniques to guide their entry. The policy is to buy low and sell high, which means you should buy low and sell high when the price drops during a pullback. When the price drops during a pushback, traders enter the market.

Range Trading

When the price moves within periodical highs and lows, traders employ a range trading method without any apparent trend. Traders utilize price range methods to identify oversold assets to buy and overbought assets to sell.

Conclusion

Position traders rely on fundamental and technical analysis to understand the market movement. These techniques aren’t simple to follow, especially for inexperienced investors, but if you’re interested in positional trading, they’ll help you become more comfortable with your decisions.

If all of that sounds a bit complicated, then don’t worry – it is! Trading isn’t for everyone, and I’d recommend starting by reading as much material on investing as you can before making any moves. A perfect place to start learning about trading is at Saxo Bank. Check them out!

If you want to increase the sales in your business, then extending credit is an excellent opportunity for you in this regard. Cash is very important in any industry. But the important thing is where the money will come from in your business?

This article will discuss how to improve cash flow with factoring and invoice finance in 2021.

What Is Factoring?

When accounts receivables are sold, it is known as factoring. Businesses can sell their invoices and then make cash flow instantly rather than waiting for them to pay the company. If you are having trouble in the cash flow situation, this can solve your problem as a business. Factoring started back in the 15th century, and it is still being utilized in industries to maintain cash flow.

Advantage

The advantage of factoring is that the factoring company which will purchase your receivable will take the title to the invoices and will collect them when they are due. The company will be responsible for all the costs and the work that manages the debt from customers.

Disadvantage

There is one disadvantage to factoring, and it is that it’s not inexpensive! This process is utilized with growing businesses that are having cash flow problems temporarily. But if you are a business with cash flow problems in the long run, then this is not a good thing for you to implement in your company.

Benefits Of Factoring

1. Instant Cash

Factoring is a good way to instantly improve the cash flow in a company because it brings in quick cash. As a business, you can receive immediate payment in cash after invoicing a customer order at the time of shipment. The turnaround time is only 24 hours. When a business is making a purchase of invoices for the first time, it will take at least two weeks to check the credit ratings.

2. No Debt

There is a misconception about factoring that it is a loan. To clear out all the doubts in your mind, it is not a type of loan, but it is a sale of assets in the form of invoices. If you are a company that does not want to indulge in more debts, then it is a good option for you if you are looking for an alternative way to finance your company.

3. Fewer Collections

In factoring, the seller does not have any responsibility for collection because the company will purchase all the rights in the invoices. The factoring company will be responsible for the debt collection, but in the end, you will be the one who is liable to pay any part of the cash price that was not collected.

Conclusion

If you are looking for an alternative way to finance your company in the short term, then factoring is a good option for you in this regard. But if you are not a company with long-term cash flow, then it is not recommended for you because it can cause trouble for you as a small business. Otherwise, it is a great way to bring quick cash flow into your organization.

Financial planning has always been a tough job to take on, especially when you are entirely new to Finances’ Industry. Another bitter truth is that despite going to every successful school or college, you will come across very few schools that help us learn Finances and Financial journey in a better half.

Assume your Financial journey as a plane, which lacks the flight path and the flight routes, will you be able to land it?

Planning the Finances and managing the Investments has never been an easy job. You need to know your long-term and short-term financial goals, along with keeping a keen eye on whether you should invest in this.

A Happy Financial journey has the following benefits:

➔ Better Credit Score.

➔ Better relationship with family members.

➔ More positivity around.

➔ Manageable stress levels.

We all might have gone through several ups and downs in terms of Money, and it will not be surprising to say that Money can give someone the biggest surprises. Investing Money or saving on your expenses are such ideas that can help you get a Financially stable future, but you also need a Risk-proof plan for investing in the right direction and platform.

Let’s talk about Starting your first financial journey without any error-prone area.

➔ List down your expenses and Income, also develop a detailed Spending plan for the same.

➔ Identify your asset and the Liabilities.
➔ Goal Setting

➔ Create a Saving Plan.

➔ Make a routine plan and check them annually.

➔ 1. Know your cash flow.

Briefly note all your expenses you did in the past year and the expenses you did in the last four months. After the list is prepared, you can just view them side by side and compare them in order to see your spending pattern. This will give you your exact spending pattern as well as helps to prepare a budget every month, for which you can prepare a monthly budget. If you spend more than your budget principal, then you will end with a bad credit score, credit card debt, and unwanted credit card debt.

➔ 2. Know your strong and weak points

After you know your spending limits, you now need to make a box with two sides, a left and a right side. The left side will have all the items of value, and on the right side, you need to enter those names or items for which you have, for example, mortgages, loans, car loans, etc. After listing all the things in both the parts of the list, now subtract both the sides and now you have your Net Income.

➔ 3. Goal Setting

Set 3 goals you would like to achieve in the coming times like in the coming three years you would like to buy a car, and then after five years, you would like to buy a home so you will have to save some each month to come up to that price of the house in 5 years. Short-term goals and long-term goals can be set for x years, where x is the number of years which depends upon your Income every month.

➔ 4. Savings is your best friend.

The key is not to always start big, instead of creating small and saving every month is the right way to achieve financial freedom. Do not just overdo it. Instead, take it slow because if you are overdoing it, eventually, you will take it as a hard way to save pennies, and you will end giving up.
With time, you will get more comfortable and eventually get your savings to grow. If you like to spend on items lavishly, then the correct way is to put all savings in an account you don’t have access to.

➔ 5. Keep your actions under the monitor and watch over your savings.

Keep your finances under direct monitoring. The more attention you will pay to your savings and expenses, the more control you will have over the cash outflow and inflow. Finances are much like your body physique. The more watch you keep on it, the better physique you will get. There are numerous tools available online that can help you achieve a lot of the above in rather a straightforward method. You can set reminders as to when your payment will come so that you can deposit it in your savings.

If someone lacks the value of “Assets and Liabilities” for whatsoever reason, having basic knowledge about primary education and finances is all that is needed.

Important takeaways:

● Each step above depends on the previous stage for specific reasons. You cannot jump to step 5 and then recursively move backward. To do proper investing, budgeting, and savings, you should be prepared for what these terms are related to.

● Money journeys can never be some easy points of life. These are primarily curved graphs because of the Investment market not staying stable enough. Your career opportunity will shift from one curve to another curve, including your family situation, to evolve as well.

● Never be your own boss until you are an expert in the field and aware of every steep point. Always get the suggestions of some Certified Financial Planner.

Conclusion

Money matters are not easy enough; they are always a jumbled up set of sentences with most of the investment plans. You just need to know what hold of the stacking cash you will need to fund your Financial Freedom at your retirement. As someone says,’ Money is the root of all evil,’ I think this is an incomplete statement. The correct statement should be,” Money can be the root of all evil if you do not manage it properly with time, taking care of the investments and savings.”

Ankita Kaushal is working as a blogger for Veronica Karas. Veronica Karas is a Certified Financial Planner in NY. She helps with Complex financial issues like stock options, estate planning, tax & financial planning and more. Get in touch with her now for any assistance regarding Financial planning.

People, for their nature, are in a constant quest for finding ways for making money or profiting from their capital. Due to the recent events though, this attitude has begun to be predominant for those restricted at home, and that’s how online stock trading began its unstoppable rise.

Between the many broker firms you can find online, there are some which may be considered more trustworthy than others. Traders tend to make a difference between regulated brokers and non-regulated ones, and for a good reason: brokerage services which are not regulated by a regulator lead often to scams and money-losses.

That’s why today our focus will be addressed towards one of the most famous regulated brokers available online: eToro.

In this eToro review we’ll discuss main features related to the eToro trading platform, regulation, fees and everything you need to know before start trading with it.

eToro: Why It’s Safe

Born in 2007 as “Retail FX” in Tel Aviv, this brokering service has now reached and surpassed $800 million in value and it’s used by +10 millions people across the world.

This achievement has been reached for many reasons, and one of these is surely being a very well-regulated broker. In fact, eToro has a presence worldwide with many offices across the world and different entities for different regions, and each one of those are regulated from local and internationally recognized top-tier regulators such as CySEC, ASIC, FCA and FinCEN.

Additionally, this broker offers high protection standards for its client’s funds. We’re speaking in regards to two measures enacted by eToro: negative balance protection and segregated accounts.

While negative balance protection consists in an automatic block of the trader’s balance before it goes in red, segregated accounts are an extra-precautionary measure useful in the unlikely case of the broker’s bankruptcy. With segregated accounts, traders’ money cannot be touched by liquidators or anyone else outside of the one who made the deposit, because they’re the only one allowed to access the bank account.

eToro: Why It’s Famous

eToro has become an international phenomena for plenty of reasons, but one of the strongest has always been related to that revolutionary idea called Social Trading.

This brokerage service has implemented autonomously a proprietary trading platform which has integrated many features inspired by main social media. Once you’ve opened eToro, you’ll find that assets are treated like Facebook’s posts or tweets, with other traders discussing and arguing on the last news regarding it.

Furthermore, what really made eToro’s fortune has been the most iconic feature of all: the Copy Trading.

This innovative feature made it possible, even to the less experienced trader, to copy other traders and their portfolio in an automated way. In fact, once enabled this feature opens any position opened in the selected portfolio, and so it will be for any future position.

Those targeted by this feature are usually a part of what we’d call “Influcencers” if we were on a social platform, but here they are called Top Investors. These kinds of traders are a sort of peculiar asset and you can invest in them depending on their risk level and your profit aims.

If you are a new trader though, we strongly suggest you to pick a Top investor with a low risk ratio.

eToro: Before You Start

If you want to start trading by opening an account with eToro, you can do it by doing a minimum deposit of only $50 if you’re a US resident. If you don’t want to commit and invest money straight away, this is not the only way to start.

As a matter of fact, eToro allows you to open a free demo account. By using this form of trading, you’ll be able to practice how much you want, without fearing making mistakes that will lead you to lose money.