Money Advice: 20 Minutes Learning to Help Make You Rich


What money advice: can you learn in 20 minutes to help you become rich? Here discussed 19 wise money tips to make you rich painlessly but with ironclad willpower. Napoleon Hill wrote: “to become rich consist of doing.” Thus, get the wisdom here and act on it. You will become rich.

1. Live below your means

You have heard it. To improve your financial ability spend less than you earn. In other words – live below your means. Spend 70% of your earnings save or invest the balance. Baby – It’s that simple!

2. Money is only a tool

Money is no different from a car, spoon, or any other tool. We use tools to simplify and complete a certain task. Treat money as a tool and you will achieve a lot of successes with it. The money will do whatever you want it to do without complaining. Money is liquid and thus likes to move. It will take you anywhere and everywhere. You need to drive money and never allow money to drive you.

Money Rule:

• * “Never lose your money” not under any circumstance
• * Never forget the rule of money

3. Self-improvement – invest in yourself

The most important thing you can do for yourself is to continuously improve your standards. If you want to become rich invest in the following areas;

• Education – to fit in with your peers and community expectations • Health – to be able to tackle tasks ahead • Physical appearance – to look good, sharp and respectable • Knowledge – to become wise and knowledgeable • Career – to improve your marketable skills • Future – save and invest some of your money continuously • Relationships – you need family and friends support to thrive

4. Stop buying stuff you don’t need

Know how to manage your money. Spend your money on value. Don’t buy stuff for the seek of feeling good. Stuff you buy should improve your financial well-being in the long run. Invest in an asset and avoid liabilities. Long lasting items tend to have value due to their long-term usage capabilities.

5. Don’t loan money to family and friends

The best financial practices dictate that “never lend money to family or friends,” because the cost of this action is very high.

You lose both in the end.

6. Advice: Create and rely on more than one income source

Build multiple income streams because it’s a bad idea to rely on one source.

You need to own things that bring money in but not taking your money away… 7 is the recommended number of income streams one must have ideally.

7. Create a budget

To become rich you need to create a budget to help manage your money. A budget is a financial plan that enables you to control your money. Without a budget, your money will control you.

8. Avoid high-interest debt – bad debt

Don’t take bad loans. Bad loans have high-interest rates. Instead of helping you grow financially, bad loans drug you down. Credit card debt is an example of a bad loan. Don’t use bad debt.

9. Save regularly and compound your savings

Save money regularly to help get rich. Building a financial empire begins at your money-saving prowess. Save and don’t get your interest earnings out. Compounding your earned interest is the name of the money game.

10. Buy and keep it

Buy valuable assets with an intention to keep for a long time (or many years.) Buy and hold is a good strategy. Things you can buy to hold for long include; • real estate • stocks

11. Learn how to raise money

Learn how to raise money and people will come for help and advice. People need money for projects but they don’t know how to raise project money. You can Charge consultation and finder fees. Ask to become part of the project.

12. Start a small business

People who become billionaires start small time businesses. They grew their business to corporate giants over the years. You need to start your own business to become truly rich.

13. Discover hidden investors – undiscovered investors

Come up with a great investment idea. You have no money to invest but your idea is solid, marketable and profitable. Make a list of people who have money. Talk to them and convince them to invest in your idea. People who become billionaires used other people’s money to thrive.

14. Know yourself – self-awareness

This means:

• Knowing and respecting your strengths and weaknesses • Knowing your passions • Knowing your fears • Knowing your desires and dreams • Knowing your thoughts • Knowing your likes and dislikes • Knowing your tolerances • Knowing your limitations

Use this knowledge to make money the easiest way you can design.

15. Give and share your money

To find sweet fulfillment in life you need to show love to others. The best way to achieve this goal is to give and share your money with others. Give and it shall be given back with interest. Share and you will receive blessings.

16. See yourself as a company

You need to use your money prudently like a profit-making minded company. Treat yourself like a corporate entity that must report profits every year. You are the owner and managing director of this company. How much profit do you want to report at the end of the year? Only you can determine this.

17. Pursue value in everything you do

Everything you do must be value-centered;
• Thing value when you buy
• Think value when you learn
• Think value in your relationships
• Think value when investing
• Think value in your business dealings
• What value are your customers receiving from your service?
• Provide value to those around
• Become valuable and irresistible

Pursue value relentlessly and you shall become rich. People who become rich know the importance of value. People pay for value.

18. Change your mindset about money

Money is good. It can earn you many very good things. Don’t worry about money. Never say that you can’t afford this or that. Your view about buying power should be, “how can I afford this,” and never, I can’t afford this. You can afford anything in this life as long as you want it bad.

19. Value time over money

Time is the most important item in your life. Without time you can’t accomplish anything. Time utilized properly and productively will make more money than you can imagine. Money has no value if you have no time to use or make it work for you.

I wish you luck in becoming and remaining rich.

Eight Habits That Can Drive You Into Poverty


Do you ever wonder why some people are successful but most remain poor, in spite of the fact that everyone operates in the same economy? Records show that wealth and poverty have existed side by side in older civilizations. And it’s not different today.

Granted.Some people may have certain advantages over and above others but it’s a known fact that majority of the people who have become successful, also had several odds against them just like the rest. But they were able to weather the storm and emerged successful.

I have here enumerated eight habits that can be responsible for a guaranteed poverty. It does not matter in which country you find yourself. As long as you take cognisance of these eight habits and decide that you’re going to do otherwise, success can be assured.

1. PROCRASTINATION

The first habit is procrastination. It is said that procrastination is the thief of time. If you want to be successful, grab opportunities as soon as they come your way because you might never know when such opportunities will come your way again if you fail to do so. Also, endeavour to set realistic expectations. It is unrealistic to expect that success will come too easy and quick. Bear in mind that success takes time.

2. INDECISION

This is a state of being unable to make a choice between two or more opportunities. For example. One may be talented in sports and music but finds it difficult to choose which to pursue. Most times, people with this kind of dilemma may choose to pursue the two opportunities at the same time but end up being average persons. To be successful, you should choose to do one thing at a time for it is better to be a master of your game than a jack of all trades.

3. INABILITY TO ACQUIRE NEW IDEAS

Successful people make it a point of duty to always seek new ideas. They associate themselves with books rather than entertainment. They continuously seek self-development through the pages of books. If you make a visit to their houses, one thing you can be sure of finding is a study library. People who crave for entertainment at the expense of knowledge, are often times condemned to a life of poverty.

4. FAILURE TO LEAVE ONE’S COMFORT ZONE

A Comfort zone is a zone in which you do something that allows you to simply eke out a living. It is called a comfort zone because it is less demanding. Often times, you find people willing to stay in a poorly paying job for over thirty years and retire poor. This happens because of their unwillingness to leave their comfort zones.

If you want to be successful, you must be willing to leave your comfort zone. This is not say you should resign your job but be willing to go into other engagements that will enable you build residual passive income.

5. WAITING FOR THE RIGHT TIME

To wait for the right time before engaging in an undertaking, is to wait endlessly because the right time may never come. Experience has shown that every successful person faced disadvantages. The right time never came in their case but they faced their challenges with dogged determination. Moreover, waiting to learn everything about, say, a business opportunity before engaging in it, is to plan to fail. Successful people rather learn on the job. They may, no doubt, fail. But they regard failure as an opportunity to learn better ways of doing business.

6. HAVING A CLOSED MIND

A closed mind is the surest road to poverty. One who has a closed mind does not see beyond where he is. He is, as a matter of fact, oblivious of the opportunities around him even when they are shown to him. Anyone desiring to make a success of life must be open to other opportunities. The essence is to create streams of income. There is a general believe that an average millionaire has at least, seven streams of income. If any of these income streams closes, he will still keep afloat.

7. WISHING CIRCUMSTANCES WERE DIFFERENT

Some people are poor and they have come to believe their circumstances are responsible. They spend all there life in wishful thinking. They wish they were born in a different country, by different parents, had different relatives etc. More often, you here people say, “If I was born by rich parents or born in so and so country, I would have been this or that by now”. That may be correct though, but it is a known fact that majority of successful people never had rich parents that bequeathed some future to them and their success was not by any stroke of luck.

What then could be responsible for their success? First, they earnestly desired success. Second, a plan of action was set to meet their goals. Third, they accepted that success will not come easy but were ready to keep moving.

As Jim Rohn said “If you really want to do something, you will find a way. If you don’t, you will find excuses.” So stop the excuses of circumstances. Desire success and work very hard to meet your goals. Your destiny is in your hands.

8. COMPLAINING ABOUT LACK OF CAPITAL

If you want to be wealthy, you must do your own business. You will never be wealthy working for someone else. But setting up a business demands huge startup capital which majority of the people cannot afford. This singular factor has put a lot of people away from setting up their own business and therefore consign them to a life of deprivation. With the advent of the internet however, this has been made relatively easier. Presently, you do not need tonnes of millions of dollars to become a business owner. There are several online businesses that you can do to be successful.

The problem with a lot of people is ignorance. Also, many want quick gratifications. So many people are not ready to stay in a business for as long as ten years or fifteen years. If they are not getting immediate success, they give up. But know now that success takes time. Know also that you can now become an entrepreneur with very little money. All you need to do is to research or ask questions from people who are doing online businesses.

Why do some people become successful while so many people remain in deprivation? Knowledge and habits seem to be at the center of wealth and poverty. People who are in the know, have continued to warn about imminent economic crisis the result of which is that many will fall deeper into economic deprivation.

Some habits are the reasons why people experience poverty. I have explained some of them in this article. Should you determine to read this article, my hope is that you will find it helpful and it may enable you to determine to do otherwise and by so doing, you will achieve success.

The Importance Of Financial Means


They say money can’t buy happiness. That is not entirely true. In today’s world in America and all around the globe, money is the predominate means to attain the necessities of life. Whether to buy food, pay for shelter, or just about everything associated with existing in today’s world all depends on the availability of having enough money to do so. In many instances the lack of financial means puts individuals in very stressful situations. We can conclude having the financial means could very well equate to a person being somewhat happy. This is because when one has financial support behind them the stress level should dissipate. Were not saying that this is true for all individuals but, having money puts a person in a capacity to be able to use that resource to reduce stress associated with not having enough money to pay for such essentials as housing, food, or medicine.

In our fast-paced world where the basic necessities of life are becoming more expensive than ever, one would think that all the technological and scientific marvels at our disposal would somehow reduce many of those costs. That is not the case today. In fact, in Flint Michigan for example, access to fresh, clean, safe potable water is actually money driven. But it is not only those in Flint, Michigan that are having water woes; all across the country water rates continue to spike. And, like everything else, it is the poor that continue to suffer just because they lack financial support.

It is a very sad commentary for our times when so much wealth is hoarded by so few. Much of the world’s anguish would be avoided if there was a lot more balance in societies everywhere. Someone once asked what money can’t buy. When we say it can’t buy happiness or health, think again. Just look at the mortality and obesity rates of the poor compared to those few at the top of the income ladder. Also, look at the emergency room where millions of people flock to just for minor health issues. They are there because they can’t afford health insurance. Money, or lack of, plays a vital role in every one of these issues.

Without access to living wages society especially in the United States today breeds a whole slew of problems. It was Dr. Martin Luther King that stated giving people the financial means like establishing a Universal Income for all would reduce poverty, reduce crime, and pretty much ease the burden of parenthood. In fact, the greatest economic boost for any society comes from that society being able to achieve the “Williams Theory of Economic Evolution.” That being having more people with enough disposable income to spend, pay down debt, and to save at least 10 percent of that income.

We have to always remember that money is basically a tool not just for the wealthy but for everybody. Used wisely, it can be an invaluable asset and if used carelessly will cause more problems. But when our society, where the majority of the population doesn’t have enough financial resources at their disposal, we see the results. And they aren’t good either. In every major city across the country, the plight of the poor, the impoverished, and the destitute are painful reminders of how out of balance our whole society is today.

The health of any nation depends on the health, vitality, and overall well-being of its citizens. When the majority don’t have anyone of these attributes, that nation experiences a decline. In the United States today, we are in decline just because of the enormous imbalance of our society. The wealthy are already getting wealthier while the majority of Americans are getting poorer. If this trend continues, the fate of the United States is in grave danger.

Now the question is how to achieve that balance in our society where millions of Americans will have the financial means to live a healthier and productive life. It starts with what Dr. King said many years ago about establishing a Universal Income. That along with the much needed governmental reforms that are detailed in National Economic Reform’s Ten Articles of Confederation. Only by implementing these reforms will the people of the United States be able to live healthier and more productive lives. In doing so will secure this nation’s future.

 

6 Financial Investments to Take This New Year


Every New Year usher new hopes, aims, and aspirations which are unique for everyone. When it comes to achieving financial goals, it is never too late to start though it is advised to start as early as possible to get better returns. In the pursuit of achieving your financial goals, you need to first understand the potential investment options in order to make the right decision that will not only ensure financial stability and freedom for yourself but for your loved ones as well in the years to come.

The idea is to start small; you do not need pots of money to invest. Here is a list of possible areas where you can venture into to understand smart investing. These financial investments should be at your New Year’s resolution list as they are a combination of risk-taking, investment amount and return of investment (ROI). These investment ideas will allow you can to balance your short-term and long term financial interests.

Real Estate: This investment option carries medium risk and investors need to select the right property to get the highest return.

Unit Trust: This is a collective investment plan that permits small and medium investors with similar investment ideas to pool in their funds and invest in a portfolio of securities. The pooled funds include cash, bonds, shares, properties etc. These are long-term, safe, and adopt a steady approach towards investing. By investing in unit trusts, investors with limited time can gain higher returns from capital markets. This investment option carries low to medium risk and suits the common man who is interested in equities but does not have the funds to expand independently.

Fixed Deposits: Fixed Deposits (also known as Time Deposits) offer a guaranteed rate of return on your investment. Almost all Malaysian banks offer fixed deposit accounts as they ensure hassle-free management and has government insurance. Moreover, fixed deposits offer a higher rate of interest than savings accounts and can be open with a relatively low minimum investment amount.

Invest in gold: Investing in gold is always considered good as it is an indispensable asset across cultures and geographical boundaries. Gold investment can either be made in physical form (like buying gold jewellery, gold coins, or bars) or by means of ‘paper gold’ (via Gold Investment Accounts of banks).

Insurance: Investment linked insurance policies or ILPs provide extensive coverage and a good return upon maturity. These investments do not require large investment capital.

How To Save Money? Heres’ 25 Money Saving Tips To Work On


How To Save Money? Heres’ 25 Money Saving Tips To Work On

How to save money? Probably searched by lots of people on Google, no matter what’s his/her financial stature is. Earnings and utility differ from man to man, but there is hardly any person, who’s not interested in knowing the ways to save money. Interestingly, it’s the human ingenuity that lets him find out the best way to save money out of his own financial position.

How to Save Money?

If I ask you how to save money? Either you would be confused or overflowed with hundreds of money saving ideas. There are some common ways to save money applicable to the masses and there are some exclusive money-saving ideas researched and applied to you only. Things are good and effective so far as you apply your tips and tricks properly. Here I am enlisting 25 realistic and simple money saving tips for the readers. Please note that all these money saving tips may not have the fullest implications in one’s life, but a few out the of money saving ideas listed below have a qualitative impact on your pocket.

25 Realistic Money Saving Tips

1. Accept payments by cheque or online:

This is one of the best ways to save money. It’s a human tendency to spend more with cash rather than from bank account. Research shows that a person finds it more inconvenient to withdraw money from the bank or buying goods with cards than by using hard cash. So, this is the best way to save money for them who have an irresistible tendency of spending cash money.

2. Go for exchange programmes:

Before buying a new durable or capital goods like electronic gadgets, appliances, go for selling the used one. There are many sites that assist you in selling your old products through advertisements like OLX, Quikr etc. Now the product sellers are too offering exchange programs. Online shopping sites like Amazon, Flipkart etc. are giving opportunities to their buyers to exchange their old ones with the new product. Selling or exchanging the old products definitely reduces the cost price of the new one.

3. Consider buying cars at the end of the month:

If you are planning to buy a car, this is the best way to save money. How? See, in most of the cases in the last week of the months, the sales representatives and car dealers are under pressure to achieve their targets. They go desperate in selling cars to customers offering good discounts or selling car accessories free of cost or at a much-discounted price. This way you get your car at the most advantageous costs.

4. Do not jump the gun:

If you see a product billboard or lucrative offers, don’t go for the buy immediately. Hold your mind and think whether you need it? If it’s your requirement, what’s your budget? By holding your buy for a day or more you may be able to do the product’s cost-benefit analysis. This way you can save your money on unneeded purchases.

5. Go by the list while shopping:

Whenever you go shopping, prepare a list beforehand about your requirements. You may wonder how to save money by going with a list? If you do shopping by list, it is possible to stick to the budget. Moreover, the list helps you to do the shopping more quickly than without a list. A study shows, if you shop quickly, the chances are high that you will not go for unnecessary buying.

6. Avoid outing with friends, invite them:

Many of us face this problem. When you go for an outing with friends, it’s unsocial for you to abstain yourself from contributing. Moreover, taking foods and drinks at restaurants and bars are no way cheaper than you have it at home. So, instead of going to the restaurants and pubs, invite your friends to your home. This is the best way to save money who are interested in maintaining social networks as well as concerned about how to save money.

7. Use LEDs:

I’ll keep this within top money-saving tips. Rather than using incandescent lights, you should go for CFLs, LEDs. They are high power efficient and reduce power bills considerably. These new technology lights even have a longer life than the traditional ones. By using LEDs and CFLs, you can save both from maintenance and durability.

8. Do periodical maintenance:

If you are using multiple electronic appliances like ACs, Washing Machines, Water Purifiers etc. it’s better to render periodical maintenance. The same should be with your car too. By conducting regular maintenance, you have to incur maintenance charges which are much smaller than any major repairing or overhauling charges. At the same time, if your appliances or cars are under periodical supervision, their longevity and efficiency level also improves.

9. Sell your old books:

This money saving tips is especially for the students and the parents whose children have passed out and have a pile of books covering a considerable space in their room and want to evacuate them. There are a number of sites that buy used or old books from us and pay accordingly. One of such sites is BookScouter. This searches the best match buyer for our old books.

10. Rent out your extra space:

If you have a big house and leaving a part unutilised, it’s advisable to rent the same out and earn some extra money to meet household expenses. There are some companies that take your property on agreed terms for a specific period and convert into a homestay. Some of these companies are Airbnb, Oyo Rooms etc.

11. Take tiffin from home:

If you want to learn the ways to save money, this is one of the effective ways to save money. First of all, your saving starts when you take tiffin to your place of work or education and avoiding canteen or outside foods which are certainly costlier than your homemade foods. Next, savings is in terms of your health. By abstaining from outside foods, you are indirectly reducing your medical bills.

12. Use public transportation or carpool:

If your circumstances permit, it’s a good move to go through public transport. Using a public transport is way cheaper than using private cars. Moreover, if you and your neighbour or your colleague have a common route to the place of work, carpool is a good option. Things can be done on a rotational basis. This saves money as well as the climate.

13. Pay your debts on time:

Try to pay your debts on or before time. Be it credit card bill or loan interest, paying on time not only saves you from additional interests and penalty but gives you a high creditworthiness. You can also make arrangements with the bank for automatic debt payments. This is also a great way to save yourself from a debt-trap.

14. Consume less meat:

What? Yes, you read it right. But, how to save money by consuming less meat? Well, this is simple. If you take less meat in your food or goes vegan, the direct impact is in your pocket. Animal proteins are costlier than vegetables. But a much bigger impact shows on your health. Researchers found that large animal protein intake in our foods have an adverse effect on our health. A non-vegetarian is prone to more decrease in comparison to a vegetarian. And nowadays health issues cost us much.

15. Withdraw from same bank’s ATM:

This is a simple but effective money saving tips to follow. As you know, if you withdraw from other banks ATM (where you don’t have an account), after a certain number of transactions the ATM bank charges extra fees per transaction. So, whenever possible, do ATM transactions with your home bank only.

16.Try to buy air tickets from the company’s site:

Whenever we travel by flights we do a comparison over the internet reading freights and services. There are many online travelling sites that give you the freedom to compare flights of different companies on the same platform. But I would suggest that rather than buying the tickets on their sites it is advisable to go the native company’s sites. The charges would be certainly lower than the previous one.

17. Save at home:

Make a piggy bank at your home and save whatever possible on a daily basis. Even ask your children to do the same out of their pocket money earnings. It inculcates the saving habit in you and your children and creates a fund with the passage of time, helpful at the time of your emergency.

18. Find a roommate:

If you are living in a rented house and single, then this would be the best way to save money. If you have a roommate you can not only save your portion of room rents but other household expenses too. Moreover, you and your partner can share daily household works, so that the life becomes less stressed.

19. Keep your house clean:

This is one of the good money saving ideas, I think works great. When we keep our house clean, it directly impacts our health. In addition to that, when the house is clean, it indicates that our staffs within the house are arranged too. This will help us in finding our requisite items at arm’s length. Misplacement and unattended staffs left us with no option but to go for a new one, which can be avoided at large.

20. Shop higher or lower than eye-level:

Marketers are intelligent. They place high valued items at our eye level. So try to buy products below or above the eye level. This way you can save a lot of bucks while shopping.

21. Take a health insurance or mediclaim:

Whenever you sit with your financial budgets, you must include health insurance in it. Medical bills are capable enough to tremble your financial stature. It would be really foolish to take chance by not taking health insurance or mediclaim. By paying a small amount of premium, you save yourself and your family from financial jeopardy.

22. Do your own beauty treatment:

Beauty Parlours and Salons are becoming costlier day by day. For women, doing basic beauty treatment like manicure, pedicure, facial at parlours are very expensive. Rather they can try things at home. There are many good video instructions are available on the internet to assist a person to do her personal care. For men, it is advisable to do saving at home with his own saving kit.

23. Use phone guards:

This is a small but effective money saving tips. As we all use mobile phones, we know how frequently it drops from our hand. By incurring a small expenditure on phone bodyguard and tempered glass, we can save hundreds of bucks.

24. Use low steam to cook:

This is one of the household ways to save money. Rather than using large flame burners, it will be prudent to use small burners. Moreover cooking at low flame and cooking in covered utensil saves a considerable amount of fuel in the long run and so as your money.

25. Do not hunt for brands:

If you have an obsession with brand names, this money saving tips certainly not for you. Believe it or not, if you go for value for money, there are multiple non-branded products that offer the same quality of service minus cost for brand value. This is quite visible, when a reputed company pays a big amount on TV commercials, Billboards etc., hasn’t it to recover the cost from somewhere?

How To Find The Right Financial Advisor For You


Finding the right Financial Advisor for you can be a difficult task. After all how on earth do you know who to trust? And just because someone might be trustworthy do they really have all the answers to the questions that you need help with? What level of experience do they have? And more importantly are they really operating in your best interest or are they just looking out for themselves? As if these were not enough concerns you also have to worry about how ethical your advisor is. You don’t want to find yourself working with the next Bernie Madoff who runs off with all of your money or is using your valuable assets to fund his or her next big Ponzi scheme. So how do you sort through all of the options and find the right Advisor for you?

Let’s look at 3 things to pay attention to when selecting the right Financial Advisor for you and your family. First how do you know they are legitimate, second how do you know they have your best interest at heart, and third how do you know they will be a good fit for you? Let’s explore all three of these questions in some detail to help you get the help you need.

So how do you do your due diligence and make sure an Advisor you are thinking of working with is actually a legitimate Financial Advisors with verifiable experience and up to date licenses? The first place you might want to check is a web site called Broker Check. You can just search Broker Check to find the official website. This website has a free tool to research the background and experience of financial brokers, advisors and firms. Broker check can tell you instantly whether a person is registered as required by law to sell securities offer investment advice or both. Broker check also gives you a snap shot of an Advisor’s employment history, licensing information and regulatory actions, arbitrations and complaints. Wouldn’t this be good information to have before entering into a relationship with an Advisor?

Next it’s important to discern whether or not an Advisor has your best interest at heart or not. One way to help you figure this out is to ask your Advisor if he or she is acting as a Fiduciary? I know that’s a three dollar word but all it means is that they are legally obligated to put your interest ahead of their own and disclose any conflicts of interest that might interfere with that goal in advance. For example, if a Fiduciary is going to get paid a commission on a product that he/she is recommending to you they are obligated to disclose that to you before you purchase. Another helpful thing to look out for is to look for an Advisor that asks to see more than your financial statements. Before they start to work with you they should be asking to see your tax returns, your legal documents, and your insurance contracts. If the only thing they want to see or talk about are your investment statements then how can they really take your whole situation into account when making recommendations?

Finally, you should never feel any sales pressure to move forward or make a hasty decision. A professional Advisor will not use old school sales tactics to gain you as a client. You may need to meet with more than one Advisor and just see how you feel at each meeting. If you are feeling pressured or uncomfortable in any way than that is likely not the right Advisor for you. You should get a sense that the Advisor in question is asking good questions with the goal of helping you to make an educated decision about your money that feels right to you. If you are getting any kind of feedback that he/she is more interested in making a sale than doing the right thing than you should probably move on to someone else.

Certainly there are likely other factors that you could consider such as the Advisors specialty and even the proximity to your home town. However if you start off with the basics of doing your due diligence, making sure they are concerned with putting your interests first, and deciding if you have a good feeling about him/her than you are off to a great start to finding the right Financial Advisor for you. Happy Hunting!

5 Ways Being Overweight Costs You Money


Obesity is not only costly to your health, but being overweight also has adverse implications on your finances. Apart from the obvious medical expenses associated with treating health conditions such as diabetes and high blood pressure arising from being obese, here are 5 nonmedical ways being overweight costs you money.

  1. Loss of income

Lost wages are the earnings an employee does not receive from their employer because they missed work or were unable to work for one reason or the other. This is lost time, and since it was unproductive, it cannot be compensated. An overweight person is bound to lose productive time because of absenteeism when seeking medical attention. This is a loss of income that can be directly attributed to being overweight.

  1. Lost earning capacity

Overweight employees suffer short-term disability resulting from the toll of health complications on the immune system and the physical strain on the patient’s anatomy. This subjects you to early retirements, translating to less income in wages and benefits due to the incapacitation. Consequently, if you remain in employment, the productive hours are bound to reduce and a resultant decrease in quality hence hampering your ability to earn income equivalent to your full potential.

  1. Higher cost of products

Manufacturers and designers develop products for the masses so as to benefit from the economies of scale which significantly reduces the cost of the product, enabling more people to afford the product. However, overweight consumers require a distinct category for most of the products, and this not only defies the economies of scale, but it also limits the options available and equally call for the use of more/unique material. Costs incurred in the development of this special category are transferred to the consumers. Therefore, overweight people pay more for their products as compared to the other body sizes.

  1. Weight management

Weight management requires the commitment of resources, and this can be costly to your wallet. The cost of purchasing weight-loss programs, gym membership, acquiring personal trainer or nutritionist and obtaining special diets are some of the initial costs that you will encounter. Later costs will arise from the need to purchase a new wardrobe if your weight management endeavour yields positive results.Alternatively, doing nothing about your weight is also costly because it stems from a habit of overindulgence, and addiction and these habits are still expensive and extravagant to maintain.

  1. Social

The most unfortunate nonmedical cost of being overweight is the social impact of your weight on your ability to earn income. Discriminatory cases in the workplace have been reported towards people who are obese. The discriminatory tendencies including social exclusion not only harm the victim’s self-esteem and confidence, but the psychological impact hampers their productivity leading to reduced productivity and efficiency. This hurts their chances of promotion and hence limits career advancement. Consequently, other employees, including the manager might intentionally avoid assigning responsibility to an overweight person because of the lack of trust in the individual’s commitment and fear of replication of the same in their job duties.

Why Do More and More People Choose Online Payments?


Consumers are used to having instant connections with information, entertainment, other users through text message, social media and products they want to purchase. Since people expect that almost all their needs can immediately be addressed with the help of technology, it is not surprising that they would rather go for online payments and the businesses that accept them.

The top reasons why people choose online payments are as follows:

They get rid of geographical limits.

A person who travels to another country/continent has to adapt to the place and make do with what they have inside their wallet. This may mean exchanging foreign currency or using another credit card than what they would commonly use. Online payments get rid of the problems that keep them from joining in an international marketplace.

A lot of payment processors supply businesses so they can accept a wide range of currencies, automatically compute the current exchange rate based on the currency, and also adjust to the language and info provided in checkout forms to take in the different languages spoken by buyers, depending on the currency used.

They are more convenient than ever.

Payment technology is so advanced to the extent that consumers are able to make an online payment even though they did not bring their card or wallet with them. Besides the growing popularity of mobile wallets, studies reveal that online consumers continue to go for other simpler forms of funding. As a matter of fact, above 80% of respondents said that they made use of a card-free payment tool last year for online payment.

They let consumers save on time.

Aside from being convenient in terms of transaction speed, online payments get rid of the need for consumers to go to a physical store, spend their precious time, and wait for their turn to pay. Studies regarding the psychological effect of waiting in line show how time is precious to consumers. They have the tendency to exaggerate how much waiting consumes their time by almost 40%. Even if the length of time lost by a customer from waiting in line is true or just imagined, the perception is real. Online payments give a clear advantage just by providing the buyer with a choice of how to spend time.

They give more buyer protection.

When customers buy from a small business – whether online or from a physical store – they need to establish a certain amount of trust with the seller, since this is their first time to buy from this merchant. No matter how clear a business explains its policies on return, exchange, as well as customer satisfaction, consumers may still be a bit hesitant. Online payments can address this problem. When they use a credit card for online payment that gives a guarantee of the lowest price for a declared number of days, an extension of manufacture warranties and the right to dispute a purchase, they can have the peace of mind that they will be given protection, whatever the merchant’s policy is.

They duplicate their present financial habits.

More than 50% of Americans depend on the online banking tool to pay bills, transfer funds and track their money. Online payments duplicate the financial habits that have been adapted by a lot of consumers.

Online Bill Pay and Its Benefits


Online bill pay is fast becoming a popular means of payment among people who want to practice good debt management skills, and save on both time and money in the process.

What exactly is online bill pay?

Generally, it is a payment method that lets an individual carry out payment instructions to creditors electronically through a computer program. This can virtually get rid of errors, making it easier to manage debt. In addition, it is faster than mailing checks.

Online bill payment methods come in two basic categories: those being offered via a bank, and those offered via a service provider- like a credit card or phone company.

In general, online bill pay is designed to be fast and simple to use. Majority of major banking institutions, as well as businesses, provide this service without any charge. Individuals can choose to manually enter their payments every month, or arrange for an automatic withdrawal from their account. Automatic withdrawal allows them to set up their payments before their due date without worrying about giving manual instructions to make a monthly payment. The creditor will transfer funds straight from the bank, and enter these funds into their account with no action needed whatsoever.

Advantages of Choosing Online Bill Pay

The following information will help you consider the different advantages of using online bill pay:

Hassle-free

Individuals can save on time when using the online bill pay platform. Instead of writing out checks, wetting stamps and filing lots of papers, they can set up an online account to get rid of all these steps. It will also be easier and faster to manage their debt.

When they need to go over past bills, they do not have to waste time in looking for them – because all their account information can be seen in one centralized location.

Cost Efficient

They can save on the stamping costs, which can add up. The average household gets 15 bills every month, which could amount to $70 a year in just postage costs.

They can avoid late payment fees that are incurred every time a payment is received after the due date. Missed payments could lead to the following:

  • Increase in interest rates;
  • Late payment charges and over limit fees.

When the payment is past due, their account could possibly go to collection status.Convenient

What is a more convenient solution to managing debt? Individuals could create their own automatic online bill account, so they can set up recurring payments that are to be regularly withdrawn from their account. This decreases the chance of late /lost payments, saving time in the process.

When they find out that one of their bills is due for payment on the next day, the best way to make sure that their payment will be posted on time is through online bill pay.

Investment Strategy: The Investor’s Creed Revisited


Fascinating, aren’t they, these security markets of ours, with their unpredictability, promise, and unscripted daily drama. But individual investors themselves are even more interesting. We’ve become the product of a media driven culture that must have reasons, predictability, blame, scapegoats, and even that “four-letter” word, certainty.

We are becoming a culture of speculators, where hindsight is replacing the reality-based foresight that once was flowing in our now real-time veins. Still, the markets have always been dynamic places where investors can consistently make reasonable returns on their capital. If one complies with the basic principles of the endeavor and doesn’t measure progress too frequently with irrelevant measuring devices, growth in working capital, market value, and spendable income are quite likely to happen… without undue risk taking.

The classic investment strategy is so simple and so trite that most investors dismiss it routinely and move on in their search for the holy investment grail(s): a stock market that only rises and a bond market capable of paying higher interest rates at stable or higher prices. This is mythology, not investing.

Investors who grasp the realities of these wonderful (speculation driven) marketplaces recognize the opportunities and relish them with an understanding that goes beyond the media hype and side show “performance enhancement” barkers. They have no problem with the “uncertainty”; they embrace it.

Simply put, in rising markets:

  • When investment grade equity securities approach the “reasonable” target prices you have set for them, realize your profits, because that’s the “growth” purpose of investing in the stock market.
  • When your income purpose securities rise in market value the equivalent of one-year’s-interest-in-advance, take your profits and reinvest it in similar securities; because compound interest is the safest and most powerful weapon we investors have in our arsenals.

On the flip side, and there has always been a flip side (more commonly dreaded as a “correction”), replenish your equity portfolio with now lower priced investment grade securities. Yes, even some that you may have just sold weeks or even months ago.And, if the correction is occurring in the income purpose allocation of your portfolio, take advantage of the opportunity by adding to positions, increasing yield and reducing cost basis in one magical transaction.

  • Some of you may not know how to add to those somewhat illiquid bond, mortgage, loan, and preferred stock portfolios quite so easily. It’s time you learned about closed end funds (CEFs), the great “liquidators” of the bond market. Many high quality CEFs have 20 year dividend histories for you to salivate over.

This is much more than a “buy low, sell high” oversimplification. It is a long-term strategy that succeeds… cycle, after cycle, after cycle. Do you wonder why Wall Street doesn’t spend more time pushing its managed tax free income, taxable income, and equity CEFs?

  • Unlike mutual funds, CEFs are actually separate investment companies with a fixed number of shares traded on the stock exchanges. The stock can trade (real time) above or below the net asset value of the fund. Both the fees and the net/net dividends are higher than any comparable mutual fund, but your advisor will probably tell you they are more risky due to “leverage”.
  • The leverage is short term borrowing and is absolutely not the same as a margin loan on the portfolio. It’s more like a business line of credit or a receivables financing tool. A full explanation can be found here: https://www.cefconnect.com/closed-end-funds-what-is-leverage

I’m sure that most of you understand why your portfolio market values rise and fall throughout time… the very nature of the securities markets. The day to day volatility will vary, but is generally most noticeable surrounding changes in the longer term direction of either market, income purpose or growth purpose.

  • Neither your “working capital” nor your realized income need be affected by the gyrations of your market value; if they are, you are not building a “retirement ready” portfolio.

So rather than rejoicing through each new stock market rally or lamenting each inevitable correction, you should be taking actions that enhance both your working capital and its income productivity, while at the same time, pushing you forward toward long term goals and objectives.

  • Through the application of a few easy to assimilate processes, you can plot a course to an investment portfolio that regularly achieves higher market value highs and (much more importantly), higher market value lows while consistently growing both working capital and income… regardless of what is happening in the financial markets.

Left to its own devices, an unmanaged portfolio (think NASDAQ, DJIA, or S & P 500) is likely to have long periods of unproductive sideways motion. You can ill afford to travel eleven years at a break even pace (the Dow, from December 1999 through November 2010, for example), and it is foolish, even irresponsible, to expect any unmanaged approach to be in sync with your personal financial objectives.The Investor’s Creed

The original “Investor’s Creed” was written at a time when money market funds were paying above 4%, so holding uninvested equity bucket “smart cash” was, in effect, a compounding of profits while waiting for lower equity prices. Income bucket cash is always reinvested ASAP. Since money market rates have become minimal, equity “smart cash” has been placed in tradeable equity CEFs with yields averaging over 6% as a replacement… not as safe, but the compounding makes up for the increased risk over money funds.

It sums up several basic asset allocation, investment strategy, and investment psychology principles into a fairly clear, personal portfolio management direction statement:

  • My intention is to be fully invested in accordance with my planned equity/fixed income, cost based, asset allocation.
  • Every security I own is for sale at a reasonable target price, while generating some form of cash flow for reinvestment.
  • I am pleased when my equity bucket cash position is low, signaling that my assets are working hard to meet my objectives.
  • I am more pleased when my equity bucket cash is growing steadily, showing that I’ve been capitalizing all reasonable profits.
  • I am confident that I’m always in position to take advantage of new equity opportunities that fit my disciplined selection criteria.

If you’re managing your portfolio properly, your cash + equity CEF position (the “smart cash”) should be rising during rallies, as you take profits on the securities you confidently purchased when prices were falling. And, you could be chock full of this “smart cash” well before the investment gods blow the whistle on the stock market advance.Yes, if you are going about the investment process with an understanding of market cycles, you will be building liquidity while Wall Street is encouraging higher equity weightings, while numerous IPOs are taking advantage of euphoric speculative greed, and while morning drive radio hosts and personal friends are boasting about their ETF and Mutual Fund successes.

While they grow their hat sizes, you will be growing your income production by holding your income purpose allocation on target and salting away the growth purpose portion of your profits, dividends, and interest in an equity based alternative to “de minimis” money fund rates.

This “smart cash”, comprised of realized profits, interest, and dividends, is just taking a breather on the bench after a scoring drive. As the gains compound at equity CEF rates, the disciplined coach looks for sure signs of investor greed in the market place:

  • Fixed income prices falling as speculators abandon their long term goals and reach for the new investment stars that are sure to propel equity prices forever higher.
  • Boring investment grade equities falling in price as well because it is now clear that the market will never fall sharply again… particularly NASDAQ, simply ignoring the fact that it is still less than 25% above where it was nearly twenty years ago (FANG included).

And the beat goes on, cycle after cycle, generation after generation. Will today’s managers and gurus be any smarter than those of the late nineties? Will they ever learn that it is the very strength of rising markets that, eventually, proves to be their greatest weakness.Isn’t it great to be able to say: “Frankly Scarlett, I just don’t care about market directional changes. My working capital and income will continue to grow regardless, possibly even better when income purpose security prices are falling.”