Engaging in money making activities is only one piece of our financial puzzle. Learning how to manage money is another puzzle, but no less important than the money making one.
What is it like to be debt-free? Maybe you’ve been borrowing for so long. You don’t remember what it’s like earning money for yourself. To buy what you want, rather than what others tell you to pay for. How would it feel like waking up and not worry about money? Believe it or not, that reality may not be that far away. But is it worth it? You might have a dozen other questions in your head: The only way to …
What’s a voided check? It may sound contradictory. Checks are documents that order banks to process payments, while the word “void” cancels those orders. Even though you can’t send money with a voided check, they still share useful financial information. People often use them to set up electronic payments. How To Use Voided Checks For example, you can send a voided check to a company so that they know where to make the deposit. Or maybe a business requires your …
Have you ever found a charge you can’t explain? Extra costs, upgrades, late payments. Someone placed a convincing ad, you responded to it, but somehow you now pay more than you expected. It has happened to everyone. One assumes to know everything that is about the offer until you get your invoice. The majority has canceled subscriptions within the first month for this reason. It’s, of course, our fault for not revising the terms correctly. But what about the business? …
The only way to succeed in business is to assume responsibility for everything. Problems are always coming, and the unexpected is inevitable regardless of preparation. Rather than frustrating with those losses, ask yourself how you can prevent it from happening again. You’ll find that you could have avoided the most expensive mistakes with a bit of preparation. The customers don’t like the product. Spend more time researching the market. Your traffic doesn’t convert. Learn where your ideal customer spends time …
You know you’ve made it when you can live off your money’s interest. You have so much money you don’t use that others pay you to borrow it. You do nothing and earn enough to never have to work again. Not only that, but none of your future generations will ever have to work either. If you keep reinvesting in this miracle, you can take better care of those you love AND upgrade your lifestyle. One of the few easy …
For a bank you don’t use, it makes sense to close your account. Perhaps you just found much better companies, or you can’t justify a monthly fee for the services received. Or you didn’t get a good experience with customer support. Luckily, you’re not trapped to stay with your bank forever. Unless you have some pending payments, you can close a bank account in five minutes or less. But before you do it, you must take two facts into account. …
This post is an addition to all the traders of my trend follower forex trading system. However, it doesn’t matter if You could also consider printing them out on paper and placing them close to your screen or trading desk. These rules are stressed as keys to success, and it’s really very fulfilling when someone has incorporated them into his methodology and has had good success trading. There are some basic principles and rules that will make you successful regardless …
The incoming recession. What does that make you think about? More expenses? Unemployment? Lower sales volume? These are some common connotations people have associated with this term. But if we had to sum up in a few words, it would be making less money. Why? Have you ever wondered how much control you have over your finances? Is the economy really determining how much you can or cannot make? There isn’t a universal law that magically stops you from generating …
“Can I write a check to myself?” Yes, people do it all the time. It’s almost as easy as sending money to someone else. You can write yourself checks to move money between accounts, cash out, and even get “free” money. Here’s how. How Can I Write a Check to Myself This process isn’t different from writing any other check: Fill out the fields with the amount you want to send Write the payee (same name as the sender) (Optional) …
Personal checks don’t work for everything. Some transactions require certified funds, which is why cashier checks and money orders are useful. Even though these third parties back your payment, you still want to pick the most secure. We’ll review the differences in price, limits, and protection. First, why would you want to use any of them? Unlike personal checks, money orders and cashier’s checks don’t require your personal information. You can send money without showing your checking account number, full …
Whether you do stocks, crypto, or other assets, taxes are part of the trade. If you ignore costs, your investments will underperform. But that doesn’t mean you cannot save on your annual bill (or avoid most of them). Regardless of your income level and trading frequency, there are ways to pay less to the IRS legally (sometimes even 0%). If you want to make your portfolio more tax-efficient, learn more about the following strategies. 5 Strategies for Tax-Efficient Investing #1 …
Whether you invest or not, you probably keep some of your savings in a traditional bank account. This money loses value every year, either in form of inflation or opportunity cost. But what if there were a way to earn interest without adding risk? That’s the purpose of a certificate of deposit (CD). Keep reading to find out if it fits your financial strategy. How Certificates Of Deposit Earn You Money Simply explained, the certificate of deposit is an alternative …
Is it illegal to mail cash? No, it’s just as legal as sending money online. You can mail checks and money orders the same way. Then why do we believe it’s illegal? It’s all about how much cash you send. Sending a few hundred is easy. But if you send tens of thousands of dollars, you risk losing that money. Not necessarily stolen, but confiscated, even if it’s 100% legal. Why? Why It Looks Illegal To Mail Cash We’re slowly …
There’s no doubt that high education can be expensive. Let’s not even get into technical careers, such as lawyers, doctors, and engineers. Sure, those jobs can potentially earn you six-plus figures a year. But there are some problems with it: Imagine how stressful that has to be. You can barely keep up with your exams, yet they think you can make money out of thin air. And if a job is your best hope, that’s still 5+ years you’re going …
The sooner you establish your score, the sooner you can borrow money, apply for exclusive credit cards, and qualify for discounts. It’s easy to improve a good credit score just as it is to worsen a bad one. But how long does the process take? And how can you benefit from it? To get straight to the point, you don’t get any immediate benefits from improving your score. But when it comes to the future, it offers invaluable privileges. I …
The money game is more than earning, saving, or spending. And whether you seek stable income or freedom, you’ll need financial control. The question is: How safe is your money? Most of us never make this question, because we’re too busy managing our money. Then one day, the unexpected happens: a. The bank is unavailable. You cannot operate online, visit a branch, nor use an ATM. Your only choice is to use the cash you have b. Something terrible happens to the …
Technically, you can have as many checking accounts as you want. You can open multiple with the same bank, and you can always join other banks. But why would you want to do that? The purpose of a checking account is to keep money in the short term to spend it. And to do so, you want it to be easily accessible. If you add more checking accounts, it makes personal finance more complicated. It’s harder to know what account …
What would it be like losing most of your savings overnight? Is it possible that the global economy controls your financial future? If so, what can you do when shocks to the economy occur? When Do Shocks to the Economy Occur? One day, without warning, any of the following may happen: The market is down over 20% with no signs of immediate recovery Your credit score drops because your bank unexpectedly lowered your credit limit The corporation you work for …
Anybody can miss a payment from time to time. But how is it fair to miss by a few dollars and get charged $35? Whether it was your fault or not, there’s a way to get overdraft fees refunded. Why Do Banks Charge Overdraft Fees? If one day, you find your balance below zero, it’s because you’ve allowed your banks to do so. You may not remember doing this, because overdraft features are enabled by default when creating a bank account. …
New day, same money problems. Something is not right. Here’s what probably happened. You had the urgent need for something you didn’t have yet. So you borrow money, confident that you’ll be able to pay back. Perhaps you’re taking loans for college, investment, or a business opportunity. Since these goals help you to make more money, it makes sense to get them now. Then, somewhere in between, unexpected expenses started to appear. Imagine budgeting and planning everything correctly, pre-spending every …