Month : May 2015

Investing

Investment Ideas That Will Not Cost You A Lot Of Money

Most people today figured out the fact that it is really important to invest in order to make money in the future. After all, your main purpose should be to create a long-term income stream that you can use in order to be financially safe at all points in time.

The problem with investments is that we are used to having to invest a lot of money. Obviously, this is something that is great since you would end up that financial security fast. You can see an example of a service that helps investors with over $3,000 available at incomestore.com. However, most people out there do not have so much to invest. Many can only invest around one hundred dollars.

The good news is that various options are available. The bad news is that not many are aware of this. You need to always keep your eyes open. There are cases in which you may miss out on some great opportunities simply because you missed them. Acting fast is usually really important.

With the smaller investments, a return of around 10% is something that is perfect at the end of the year, although this is not what you want to see. When being aggressive, you will be able to even come up with a profit of 1000 percent, which is definitely what you want.

The trick when you invest small amounts of money is to look for the big payoff. We say this due to the fact that you will not actually feel a loss if the investment is low. Aggressive investments with the main goal of gaining a high ROI is something that you want to do.

Let us say that you divide your money into 10 equal shares. Invest in high risk, high ROI potential and if 6 of them will make you a large return, you will end up with a lot of money when the year is over. Obviously, you do not want to end up losing money but when you hedge your investments and you do understand the fact that you just need one big win, it is possible to end up with quite a lot of money that can be used in the future for investments that are much larger.

If you do not know that much about investments, we do recommend that you work with a company that does know what has to be done in order to be successful. You will quickly figure out the fact that such help is really valuable.

Investing

The Swing Trade and Options Course at Warrior Trading

As a full time small business owner, I find that my time is very limited. I have no ability at this stage to learn how to trade full time, even if I wanted to. I have been a swing trader for many years and handle most of my own investments for retirement. I am smart enough to know that I don’t know everything, and that is why I am constantly on the hunt for educational opportunities that will bolster my own trading skills and knowledge. On one of these hunts I came across Warrior Trading.

What is Warrior Trading?

Warrior Trading is an education based trading chat service. These are pretty common on the web and are a dime a dozen it seems. What impressed me about Warrior Trading was their professional website, emphasis on education and the fact that they also run a dedicated stock trading news website called Warrior Trading News. My thinking was, let me take talk to these guys for a bit and hang out in their chat room to see what their system is like. They do post a transparent trade log on their website for both day and swing trades. This gives you an idea of their accuracy and average win or loss. I decided to try trading with Warrior for one month at $85 (15% discount code is given to new subscribers). The nice thing about Warrior Trading is their pricing plans are quite simple and straight forward. There is no tiered pricing. You get everything at one price. The swing trade alerts via email, text and chat, swing trade and day trade watch lists, all of the educational content on the website excluding the courses. Jeff only trades high relative volume liquid stocks, usually mid to large caps. What that means for us part time traders is, we don’t have to chase his alerts. In the watch list, he tells us where he is looking to get into the trades, where his stop loss is and where he will add to his positions. It doesn’t get much easier than that to follow.

The Swing Trade and Options Course

After a few weeks of trading in the chat room on and off, and following Jeff’s swing alerts, I was convinced that he was on to something. I researched the trading course and found that it was truly unique. At $799 for 5 days and nearly 10 hours of material, there is nothing else out there comparable in price for what you get out of his course. I was a Trade-Ideas user already, and was delighted to find out that he gives out his $1k swing trade scanner package free to all swing trade course students. The course comes with an 80 page PDF course book so that you can easily take notes and follow along, highlighting key points. There are sections covering options, fundamental and technical analysis, risk management and chart reading as well as how to identify entry and exit triggers for each trade you are considering. The options section was particularly valuable to me as I had never really understood them. He breaks down options in manageable and understandable chunks. Once you learn the basics of options chains, Greeks and strategies, he tells you how he uses options for some of his trades and more importantly, why.

The Day Trade Course

Having seen the chat room posting amazing wins the great majority of the time using the infamous “Gap and Go” strategy that Ross teaches, I am convinced that I need to make time for myself to take his course next. It is such a simple strategy to learn and usually results in $500-1k gains in the first 20 minutes of the trading day. That is something I could do before I go to work. After that, I would just focus on the swing trades and alerts the rest of the day. Similar to Jeff’s course, Ross also provides a large PDF course book with all the details of the course. His class lasts 3 weeks and covers everything you could need to know to trade like a warrior.

Both courses are live and streaming, and as a student, you get access to every previous archived course and ALL future live courses. Once a student, always a student. So, as the market evolves and material changes, you have the opportunity to keep coming back for new live courses or just view the archives when you have time. All in all, Warrior Trading is a great setup and a great community for new and experienced traders alike. The moderators are all easily accessible for questions via email, Skype or by phone. Everyone is willing to help everyone and more importantly, they are profitable.

Insurance

Obtaining a Good Insurance Rate with Bad Credit

One of the many financial hardships that come with having a poor credit score is an increase in the cost of car insurance. Statistically, drivers with poor credit are 40 percent more likely to file claims than drivers with good credit, so their premiums tend to rise accordingly. Fortunately, credit is not the only factor that goes into determining insurance rates. Taking several steps to address the issue can keep the cost of insurance down while you rebuild your credit.

Shop Around

Every insurance company charges more for drivers who have bad credit, but every company weighs your credit score differently as compared to other factors. With some insurers, having bad credit increases your premium by a whopping 50 percent; with others, the increase is a much more tolerable 20 percent. Take advantage of the differences between companies by shopping around, getting quotes from as many insurers as possible and selecting the policy where your bad credit hurts least.  Online sites like ired.com make this much easier to do, as they offer quotes from multiple insurance companies on one phone call.

Look for Discounts

Qualifying for discounts on your premiums can help offset the increased cost that comes with having bad credit. Some insurers offer discounts for drivers who take optional safety courses; the one-time expense of taking the class is easily offset by savings on your insurance. Other common offers include good student discounts, safe driver discounts, low mileage discounts and multi-policy discounts. Evaluate your available options and try to qualify for as many discounts as possible; be prepared to switch insurers to qualify for more.

Get a Different Car

One of the biggest factors in determining insurance rates is the accident history of each make and model of car. In general, models that have been in more accidents cost more to insure than those that have been in fewer accidents. Cars with certain optional safety features cost less to insure as well. If you plan on buying a new car, take the cost of insurance into account and consider paying more up front to spend less on premiums down the road. Bear in mind that with bad credit, you will need to either pay cash for the car or pay a higher rate on your car loan.

Raise Your Deductible

If you need to file a claim, the deductible is the amount of money you are responsible for before your insurer steps in. A $500 deductible is standard for most policies in the United States, but you can always opt to increase it. Doing so reduces the insurance company’s risk and thus lowers your monthly premiums. Be sure to set aside some of the money you save on premiums, though, just in case you end up having to pay the higher deductible.

Reduce Your Coverage

For most older cars, it is not financially wise to have more than basic insurance coverage. If the total cost of your premium and your deductible is more than the book value of your car, consider dropping comprehensive and collision coverage and putting some money away to pay for repairs or purchase a new car in case of an accident. Furthermore, if you have an unused vehicle or one that you only drive for part of the year, consider downgrading to cheaper storage insurance, but don’t forget to reacquire basic coverage if you decide to drive the car again.

Home Ownership

Struggling With Property Taxes? Here’s What You Need To Do

As a homeowner, you have the responsibility to pay property taxes. Property tax rates vary depending on where you live, which means that the tax rates in one state could be much higher than in another. So citizens living in one area, could pay a different amount of tax to people living in a similar sized house in a different area.

Over the past few years, property taxes in the US have increased, leaving many homeowners struggling to keep up with their bills. As property tax prices have increased, more and more families have struggled to keep up with the prices.

If you are struggling with your property tax bills, then you may be feeling anxious or worried about how you will cope. But try not to worry, there are plenty of ways you can get your finances back on track.

Property Taxes

Image from Flickr

To help you get your property taxes and finances back on track, we have put together a handy guide below:

Know how much tax you should pay

The first thing you need to do is find out how much property tax you should be paying each month. You can do this by picking up the property card for your home from the assessor’s office, or can request having it sent in the post.

Once you have your property card, you can then start working out what you should be paying each month and how much you owe.

Ask for help

Once you know your debt sum, the next step is to ask for help. You might be embarrassed admitting that you can’t afford to pay your bill, but there is no need to be. At some point or another, most families have financial problems, so there is no need to feel ashamed.

If you are unsure who to contact for help, start off by contacting your local assessor’s office. They should either be able to give you the help you need or point you in the direction of someone who can.

Get a loan

When we say get a loan, we don’t mean the type of loan that goes through loan sharks, we meant a legal loan.

If you are going through a financial blip and are struggling to pay your tax, looking at the option of Reliance Tax Loans could be ideal. While it might seem like a backwards step, getting a loan can give you the boost you need to get your property tax in order.

Cut down on spending

If you are short of money for your property tax bills, it’s a good idea to cut down on your day to day spending. As this will give you a little extra money to use to cover your bills.

Just small things, like taking a packed lunch to work or shopping at a budget store, can make all the difference. Instead of buying a latte every morning, take a coffee to work in a heatproof cup. Instead of going to the gym every day, swap to three times a week and run on the other days.

It’s amazing how much of a difference just a few small changes can make to your wallet. Start slowly and begin to implement a variety of changes over the space of a few weeks.

Money Management

Car Loans FAQ’s

Car loans are frequently becoming more and more available to us, mainly due to the economic climate. Maybe you are buying your first car, or you have never used any car financing before. Either way there will be a whole host of questions you need answers to before you sign on the dotted line. Finances can be confusing at the best of times, with a variety of interest rates, loan periods and a whole host of companies all vying for your attention; it is not the easiest mine field to navigate. Before you start shopping for your brand new vehicle, here are some of the most commonly asked questions that should help you battle your way through to the right loan for you.

Can I get a car loan even though I have bad credit?

If you know that your credit history is far from perfect, then you might be worried about whether or not you can even get a car loan. The first and most important thing to do is to get a copy of your credit report. This will tell you exactly where you are up to with your personal credit score. Once you have this information then you are able to start shopping around.

There are plenty of financial institutions that offer car loans for bad credit, but you will need to be extra picky as to which one you choose as mistakes could lead to your credit being damaged even further. Don’t just rely in the dealer to grant you your financing as you may find that this comes with a higher rate of interest than other lenders, at the end of the day they make extra money through financing payments. Car loans for people with bad credit do come with a higher interest rate than other loans, so before you decide to sign for the loan, make sure you know the amount you can afford to pay back each month; the most important thing is to not get into any further debt or to damage your credit at all, in fact paying the amount you can afford will help you to rebuild your credit.

How do I know whether a second hand car or a brand new one is best for me?

Car loans are obviously determined by the total amount you need to borrow to pay for the vehicle. So, if you can’t afford to pay back a large loan, then a second hand car may be the perfect option for you. In essence the decision to buy pre-owned or new comes down how much finance is available to you and what form of car you want/need. Here are the ins and outs of both to help you to make the right decision for you.

New cars will come to you with a manufacturer’s warranty, usually giving you up to 3 years coverage. This is the beauty of buying a brand new vehicle. Even though it is less likely to breakdown or need repairs than a pre-owned car, it is still covered by the manufacturer. When you get your new car, there is likely to be no nasty surprises with it; it should be in perfect condition with all the latest safety and technology features as described.

Brand new cars are considerably more expensive to finance than their used counterparts and can lose up to 40% of their value as soon as you get the keys – yes that is an awful lot of money to lose straight away. Due to this and the higher fees you will have to pay each month, your comprehensive insurance will also be greater.

Pre-owned cars, on the other hand will require smaller loans as they are in general far cheaper to buy. Remember though, that they are cheaper for a reason; they will have a certain mileage to them that can flag up certain issues with the vehicle, that you wouldn’t get from a new car. This could be anything from repairs that need to be made through to a lower level of safety features.

The benefits of a used car are the lower repayments, lower insurance costs and the vehicle will retain its value for longer. This is a perfect form of vehicle for brand new drivers, or someone that simply needs to get to or from work every day. It is worth noting through, that although you are paying less each month in loan repayments, you may need to cover costs for repairs etc.

The main thing to remember is that choosing your car loan will be very personal to your circumstances, so do your research. You will need to know how much credit you can get, how much interest you will be required to pay and what sort of car will suit you. Once you have all these answers, picking the car will be easy.