Month : May 2016

Money Management

6 Tips for Financial Success

Most people make resolutions at the start of every year to improve their financial situation by spending less and earning more, but only a few people actually follow it. However, just like any other resolution, a plan for financial success is very much achievable if you put in a little effort. Here are some tips to get you started.

Get paid for what you are worth

Most people are just not aware of their actual worth in the market, or they get exploited by their employers, and end up earning a lot less than they should actually. So if you are working in the marketplace, make sure you research around to evaluate your skills and capabilities with colleagues or those working around you. Also take note of your job tasks, and the efforts you put in to see if you are being underpaid or not. If this is the case, talk with your employer for a raise or look for a better paying job.

Spend less than what you earn

The second most important step to financial success is the amount of money you actually spend. It is always easy to spend a little more on your favourite shirt or shoe or something which you had wanted to buy for a long time. However, cost-cutting efforts are the key to big savings. So, whenever you go out for shopping, do not carry a lot of money with you, and also avoid using the credit card.

Plan a Budget

Your monthly expenses should follow a budget. Make goals on how much you plan to save this month and make every effort to achieve those goals. Whether it is just saving a few hundred dollars, or thousands or more, have a plan and stick to it. Without a budget, you will not know where your money comes in from and where it goes.

Pay off heavy debts

Another important step to financial success is to first get rid of any outstanding debts. Start paying off the big debts first and those debts which have the highest interest rate. This way you will not end up paying all your earnings in the form of interest. Debts can include mortgages, student loans, auto loans and also credit card dues. Use cash as much as possible instead of using your credit card to avoid paying more in the form of interest.

Start a Retirement Plan

If you don’t already have a retirement plan, start contributing to one. This will help in the long run and also allow you save for the rainy days. For those already contributing to a retirement plan, see if you can increase the contribution to save more.

Invest in stocks, bonds or property

If you still have money after paying your savings and retirement plans, you can invest the remaining money in stocks, bonds, precious metals or property. Investments usually take a few years to give a return, but investments done at the right time usually pay really well.

There are many more tips which you can follow for financial success, but it would be a good idea to start with the ones listed above and see their results.

Author Bio

Richard Jacobs is a chief editor since early 2007, and he currently works for MyDUIAttorney. A website that helps you to find the right DUI lawyer, you can search for a NJ DUI Attorney online, anytime!

Business

How can Litigation Funding help your Finances?

Going to court is expensive. This applies to even the biggest businesses in the world. Resolving a legal grievance, dispute or discrimination costs money, and it can be very time-consuming.

Legal procedures are lengthy and some cases can stretch out as long as five years. In this time, firms have to bear the mental strains involved, as well as the financial expenditures. 

So, if going to court is such a pricey endeavour, what happens? Should firms just lie down and not pursue justice? 

If one does not have the funds to take a case on, there is a viable route which can help. This is called litigation funding. 

What is it? 

Litigation funding involves a third party providing all the financial support that you need. Working alongside the lawyers, the funder pays all the legal costs and no upfront payment is required. 

It sounds too good to be true but it really is correct; a third party funding provider offers the business the financial backing that they need, in exchange for a return of investment, as well as their initial investment back. 

During the past half a century, legal restrictions to a third party getting involved in a legal dispute have been worn down, and litigation funding has increased in popularity. 

What if the case fails?

In life nothing is certain and not all claims succeed. There is a risk that a case can fail, and that is why funders have an extensive procedure that they consider, before agreeing to fund a case.

There are a lot of risks involved for the funder; the business doesn’t have to pay a penny, even if the case fails; whereas the funder still has to pay the fees if the case flops, as well as the defendant’s fees.

So as a result, litigation funding providers are very meticulous with the cases they take on. They reject more than 50% of the case requests they receive, simply because they cannot take a case on board unless it has a strong defence, and is risk-free.

What does this mean for you?

Third party litigation funding is a worthwhile solution to finding the funds to go to court. Commercial litigation disputes are only increasing around the globe, so if you need financial assistance to bring a case to court, this is a very feasible path to pursue.

This article was written by Lauren Grice on behalf of Vannin Capital, the specialists in third party litigation funding. Visit litigationfunding.com today to seek expert help and advice, and to see if it is right for you. 

Home Ownership

7 Ways To Improve The Resale Value of a Home

It is every homeowner’s dream to increase the resale value of his home. This is very natural and holds even if you are not planning to sell your home. Even today, a home is usually a family’s biggest asset and it always helps to have it priced as high as possible on the real-estate market. If the worst financial situation demands, you should be able to sell your house for the best price, and for this it is important to improve the resale value of your home.

People are sometimes surprised how little things can drastically improve the resale value of a home. Thus you need to do lots of small things and these can add up really big. Exactly what needs to be done depends a lot on the neighborhood, but there are some general tips that you can follow –

  • Exteriors: This is the first thing that people notice when they look at your house. Make sure that the paint is good and appears elegant. Painting is a small investment but can pay off very big. Ensure that you are following the latest trends in home exteriors.
  • Windows: These can really define the look of your house and thus should be chosen carefully. Newer replacement windows come with tinting and energy efficiency built into them, so they also save you money in the long run.
  • Landscaping: Landscaping is very good for improving the home value as it appears inviting and elegant at the same time. Potential buyers will surely be lured by this additional feature. If you have the place, landscaping can be a relatively small investment of money and time to greatly add value to the home. Again, it is important to follow some latest landscaping trends to know what is in and what is out.
  • Lawns and Gardens: Lawns and gardens need to be maintained well. If not, they can break the entire look of the home as a whole. It is best to maintain the garden periodically. If you are interested in gardening, you can consider addition some value product to the garden, like practicing organic gardening and growing fruits and vegetables. This not only helps your stay at your home but greatly improves the resale value as well.
  • Renewable Energy: If you can, try adding a source of renewable energy to your home, like solar panels. This will take care of all your energy needs, and you might even be lucky to make money by selling electricity to the grid. In addition, it greatly helps improve the value of a home. Speak with a professional team like Alek HVAC to see what changes you can make to your home.”
  • Lighting: Good lighting is very important because it reflects the true beauty of the home from the inside. It helps to use diffuse and sharp lights with care at different places to ensure the right feel at different places of the home. Also, consider using energy efficient lighting like LEDs and CFLs as they are the trend of late, since they are environmentally friendly and help save on electricity bills as well.
  • Renewable Energy: If you can, try adding a source of renewable energy to your home, like solar panels. This will take care of all your energy needs, and you might even be lucky to make money by selling electricity to the grid. In addition, it greatly helps improve the value of a home.
  • Car Port: A car port is a cheap and efficient way to improve home resale value and should be considered by all homeowners.

After significant renovations and increases in home value, more home insurance quotes are needed to match the increase in value.

These are some of the ideas you can use to enhance the value of your home. You should feel free to make all the small changes that will make your home stand out from the rest of the neighborhood.

Investing

Making A Living From Binary Options

When considering a career in Binary Options trading one must understand that although it is simple it is not easy. If you were to believe the broker claims all you need to do is set up an account and you will make hundreds of dollars a day. In reality nothing in life comes that easy. You must make good decisions in order to have an upward trend in your trading account. This takes knowledge and skill, which must be developed over time and through practice.

Making a living from Binary Options is possible. Although 80 to 90% of traders of Binary Options do not make profits they will tend to be the ones that use the investment medium as a gambling platform. When a trader is not doing significant fundamental and/or technical analysis, and does not have predictive power when entering the trade, they will naturally lose more than they gain. Most traders that make consistent profits from Binary Options over a prolonged period of time become experts in a particular niche. They gain a competitive edge through knowing exactly what is going on in their niche and having a clear understanding of how chart patterns relate to future price behavior. Many spend hours and hours a day watching charts, doing analysis and reading news. Perhaps the two keys to success in Binary Options, outside of knowledge and competency, are money-management and risk management.

Making a living from Binary Options requires a financial trading account. This trading account must be run professionally and must contain money that is disposable. If you borrow from mortgage payments fund your trading account you’ll make emotional decisions, and Binary Option trading requires logical and rational thinking. Along these lines, professional traders manage their risk by only exposing 2 to 5% of their financial account in any one trade. Unforeseen circumstances could otherwise cripple their ability to continue trading.

Naturally, making a living from binary options requires that you choose the asset classes in which you will trade. The best way to do this is by understanding where you are likely to have your edge. It may be that you choose a certain set of stocks, or certain currency pairings, or a combination of different assets classes. Your daily routines will be driven by when these asset classes are traded. Some market indices are traded 24/7, some asset classes are only traded for a few hours a day. Your routines must fit in with when there is volume and volatility in the market in which you are trading, as these are important trading criteria.

Making career in Binary Options is very possible, but you must learn and be disciplined in your approach. Don’t expect to be highly successful straight away. Like with any other pursuits in life experience and knowledge will bring improved results. If you are just entering the trading environment for the first time then begin with a demo account, or with a small financial trading account.

About the author: Eleonora Marchetti is an expert on financial markets specializing in foreign exchange and trading in binary options. An honorary graduate of the SDA Bocconi School of Management in Italy, she provides consultation services to various economic powerhouses, including the globally renowned binary options trading firm, Banc De Binary.

Investing

Avoid these mistakes while choosing a Forex Broker

Your choice of the Forex broker remains crucial to your trading experience. Forex is perhaps one of the largest currency markets operating today. There are several brokers vying for traders’ attention out there. And, it is clearly not easy to choose one among them. Today, in this post we’ll be documenting some of the blatant mistakes committed by traders or investors when it comes to choosing an online forex broker. Make sure you’re on your strongest guard against these common errors.

Choosing the right forex brokers: Mistakes committed by traders

Come to think about a situation. You wouldn’t really end up believing someone (whom you randomly come across on the streets) – claiming to be a forex broker. Would you? On the other hand, it would have been easier for the same person to convince you had his services been backed by a finely designed website and trading software. However, please remember that a compelling website and trading platform are not the only yardsticks for the selection of a broker. If you are basing your choice on these two factors then you are committing the first mistake. Listed below are other such mistakes that you should be aware of.

Not checking the necessary authorization

Are you checking whether the broker you are about to choose, is a member of the regulatory body or not? In the USA, for example a broker is a member of the National Futures Association with proper registration from the US Commodity Futures Trading Commission. Let us tell you that the National Futures Association is a self regulatory establishment linked to the futures industry in the country. So, the next time when you are looking up a flashy website make sure you’re checking whether the broker has mentioned facts pertaining to regulatory compliance or not. If you’re looking for brokers from USA, then the term NFA should clearly be mentioned in the website.

The regulatory bodies generally differ with different countries. For instance, if it is the NFA in the USA (as already mentioned above) it is Swiss Authorities in Switzerland. So, make sure you are not committing the mistake of undermining the importance of checking regulatory requirements completely.

Choosing a broker without checking its customer support

The Foreign Exchange Market operates 24 hours a day. As such, brokers should offer 24-hour customer service in accordance as well. You should ideally be able to speak to a live person rather than being greeted by an auto attendant. The latter mostly turns out to be waste of time and utterly irritating. So, make sure you’re zeroing in on a choice in accordance. Don’t believe a broker that says that you will not be able to find any broker in the market that provides you 24-hour facility.

The trading platform offered by your broker should be backed by a number of features including customization, great analysis tools and clearly displayed “buy” and “sell” buttons.

Final Words

Make sure you’re avoiding the aforementioned mistakes in order to secure the best of trading experience.