Posts Tagged ‘money’
Filed under: Money relations
I have been keeping an eye on the stock market and it certainly seems to be fluctuating a lot. This is actually good news, because that means that it is in motion, both positive and negative. Those are both intrinsic to the use of any stock market. To be honest, and keep in mind I am not a guru though I attempt to pay attention to investment news, some might even call me naïve, but to me it seems like things are picking up and for some investors going quite well. The investment news recently has, just from casual glances, appeared somewhat upbeat. Just from what has been reported in the different markets around the world there certainly seems to be a lot of opportunity. Of course there is also risk involved, but that is a given when you are dealing with stocks, bonds and equities. If you want some off the cuff advice from an absolute non professional, not currently investing, but looking into it, market wanna be dabbler then read on. I knew you did, and glad you have kept reading!
If you want to grow your savings, then I think investing in the markets is a bit like hitting the casinos. You must have some sort of strategy before you even show up. Know what money you have and what you plan on doing with it. Know your resources. Decide on how much you are going to invest, or gamble in the market, and stick to it. Invest that amount, and if you lose it, step back and look at why you did, look at the factors that were present, the causes for the stock or stocks you picked to drop. Then use that knowledge to attempt to pick a better stock next time, when you again, have some money free to invest. Of course, if things go the other way and your savings increases then invest in offshore banking. That’s a bit of a joke, a small attempt at humor. I think long term I would invest in agriculture or any type of bio-science, I would also be looking into tech because the chances are good that our society’s are going to require it to maintain, grow and thrive.
Tags: advice, investing, money, stocks
Filed under: Money relations
The business accounts are proceeding apace. I was able to get accounts set up in my business name and now just need to move on to the part of the business that fills those accounts up. It took a while and quite a bit of searching for me to decide on a bank to go with. Most of the banks recently have issues, plus many of the card givers definitely have issues. They are a few that are still good deals, but you seem to have to look for them. However, a credit union, on the other hand is normally a good deal. Credit unions are usually much better than regular banks, at least for their member/customers. After looking around at different banks I went ahead and settled on a credit union, because of their stability and because they are less inclined to screw you just on general principles like many of the banks and credit providers are currently trying to do. I thought of an offshore bank account but I think you already need quite a bit in an account before they will consider you for something like that.
I wonder if they look into credit ratings when they are deciding whether to offer you an offshore account or not? Even if you just went overseas with an account it might turn out for the better for you. That does of course depend on what country you choose and what, in general, their currency trades at. The only other factor I would think to be very important is stability. Will the place you are investing retain the rights it currently allows for non-citizens or will those be taken at the whim of those running that country? It makes a difference, trust me. The main difference being whether you get to keep your money or not, and how safe you feel trading in that currency and what your bank account looks like.
Tags: banking, banks, currency, money
Filed under: Money relations
It is kind of hard to know what to invest in right now, well it is probably the same at anytime but now your chances of choosing something that will crash and go away are higher. But, on the other hand there are a whole lot of absolutely great deals right now too. Knowing what they are though is the challenge. Doing some research and checking out finance forums can give an idea of what might be good. I think the other thing is to look at what will probably last, what is needed now and will probably be needed in the future? Personally, I think tech and bio are the way to go, at least for long term. Plus most of those stocks are at a bargain price right now. If you are really into it you could check out some money brokers, or stock brokers, whatever they call themselves at the moment. If you are willing to pay a lot of them are looking for jobs too, I believe.
I haven’t any plans to go that way myself. When I get some free cash, as in cash not being used for bills and to survive, I want to try those online trading things. Like E-trader and that one with the baby. Can’t think of it at the moment, might even be E-trader. I really haven’t looked into them but I know some people who swear by them, swear at them too actually. Might be fun to be a day trader, although it is probably much more challenging at the moment. However, I bet it can be really lucrative now too. Probably the best way to do it at the moment is to use pretend money and see how you do. That way once a person feels comfortable they can, if they have the extra cash, and invest a hundred or so online and hopefully grow from there.
Tags: currency, finance, investments, money
Filed under: Hmmm
I guess savings are important at all times, but nowadays more than ever. If you had thought savings were important previously then you are probably doing alright in these current economic times. Savings are good because in general it eliminates debt and if you have substantial savings then you probably do not have substantial debt. Many financial people recommend paying off credit cards first before saving because they incur a higher rate than the savings rate you might get for your savings. In other words, the amount you pay on your credit debt, the percentage, will be higher than the amount you might get on your savings or investments. The percentage your money makes for you will be lower than what the percentage on the debt takes away from you.
It makes sense, I guess. I’ve seen it but what is forgotten is the human factor. I think that, weird as it may be, saving a bit will actually make your debt easier to get rid of. If you save each month and see that savings grow you feel better about yourself and your situation, also if you are diligently paying your actual debt down you feel twice as good. Sort of a self enforced happy loop, it can keep you feeling positive and make you feel like you are really accomplishing something. Besides, the discipline needed to save is the same you use to pay things down and not incur more debt. You are building your self worth, your financial worth and your discipline which in the short and long run will only be of benefit to you in your life.
Savings is important in many ways, allowing you to be independant and more in charge of what you do or don’t do. Knowing you have money in the bank or as some do in your matress makes a big difference in how you feel about yourself. I don’t want to get into investments but think about this, if as some are claiming, things are horrible then what are you going to do with your money anyway? Chances are very good things will get better, and investing now or saving now will only help you.
Tags: happiness, money, saving, Savings, wealth
