counting coins 720x380 - It’s All on You: Small Habits Which Have Big Impacts on Your Finances

It’s All on You: Small Habits Which Have Big Impacts on Your Finances

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When it comes to your money, everything you do has an impact on it. Literally everything; even the smallest things that you may not think matters! This is what we shall be focusing on for today. To be specific, we wanted to take a look at small habits which end up having a big impact on your finances—especially over a prolonged period of time.

Let’s begin:

subscription - It’s All on You: Small Habits Which Have Big Impacts on Your Finances

Subscriptions

There are a lot of things in our life that require subscriptions: cable TV, magazines, Netflix, gym membership, and so many other things. While a couple of these may not be so bad, if you have several things can really snowball on you if you’re not careful.

You need to determine if those subscriptions are worth it. How commonly do you make use of them? What do you get out of it? How much do you save if you don’t have them? These are some questions you need to ask yourself.

eating - It’s All on You: Small Habits Which Have Big Impacts on Your Finances

Eating Outside

One of the best things in this life would be exploring the culinary offerings that professional chefs have to offer. However, these things are rather pricey—especially if you make it a habit to eat out regularly. It always cheaper to prepare your own food at home; the price you pay for a night out can actually feed you for several days if you’re smart about it.

Treating yourself is not bad at all. You just need to keep track of the overall cost of eating outside.

coins change - It’s All on You: Small Habits Which Have Big Impacts on Your Finances

Not Minding the Change

Change is often an afterthought for most people. We get them when we pay for coffee or commute. We often do not keep track of them, especially when they come in coin form. The thing is, when pennies and nickels are pooled together, the final amount may end up surprising you.

You need to start keeping track of your change and see how much money you actually have.

These are a few small things that can have an impact upon your finances when you aren’t careful. What other small things can you think of?

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Knowing the Difference: Bull Market VS Bear Market

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In the field of stocks, Forex, and investments, it is always important to be aware of important terms and concepts. For today, we will be looking at the difference between both critical market concepts; specifically: bear and bull. This is particularly crucial if you are aiming to go into Forex trading.

Here are the biggest differences:

Bull Market

The term “bull market” is commonly found on trading floors. They often found on investment blogs and publications as well. It generally refers to a market where the shares are on an upward trend. Much like a bull where in the horns are directed upward towards the sky, this represents the trend that shares and prices are experiencing in a bull market.

The duration of this trend or bull market can actually last for weeks, months, and even years—if we’re lucky.

stocks - Knowing the Difference: Bull Market VS Bear Market

Bear Market

The term “bear market” is the polar opposite of a bull market. This is odd considering the fact that bears are generally considered to be strong. Much like the bull with its horns that represent the market, there is a part of the bear that is used to define this market. Specifically, it’s hands.

Whenever bears stand up, their hands are pointed downwards. In the world of investments, this means that prices and stocks are taking a downward trend. Prices are lower and if investors are not careful, they may end up with useless stocks.

This is why it is important to be aware of terms that are commonly associated with investment and trading so that you can always be ahead of the curve. Paying attention to the terms can signal whether you need to buy more or sell what you’ve got. If you’ve got any other questions, it would be wise to ask your broker or your forex introducing broker for further information.

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Before the Plunge: What are the Qualities of a Good Investment?

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Before you sign the dotted line of an investment contract, serious thought must be given. In particular, you will need to be aware of the qualities that make a good investment. The best Forex brokers always keep an eye out for good investments. If you are going to be the one whose money is on the line, it would be important for you to know those qualities as well.

Here are a few of them:

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Long-Term

A good investment isn’t just something that you can buy into and cash out within a few months. It is something that should consistently generate money for you. You must always weigh the long-term longevity of an investment before deciding to get into it.

If the investment is only good for a short while, determine if it’s worth putting your money into.

No “Down” Lines

Investments should be clear. You put in a bit of money and you should have a clear idea of what your projected earnings will be. It should never ask you to recruit anyone or two to make your cut “bigger”. If you have ever been presented with an investment opportunity that features this, you must avoid it like the plague.

No good investment will demand that you drag in other people in order to make money.

laptop program - Before the Plunge: What are the Qualities of a Good Investment?

Sustainable Business Model

One of the things that you should be looking at when it comes to the business or the investment is its model. Is the business something that is sustainable? If it something like a food fad, the market for that is passing and fickle. What can be considered to be hot today can be passé tomorrow; for example: red velvet everything!

Now, everything is Matcha. It would be wise to see if the investment you’re about to make is highly sustainable.

Now these being said, we hope that you’ll have a better idea of good investments. What other qualities of good investments do you know of?

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In the Land of Big Investments: Three Healthy Habits to Have

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When you are putting time and money toward investments, it is always important to be aware of certain habits that may be bad for you. Alternately, it is also good to be aware of habit that are good to have. Today, we wanted to talk about three particular healthy habits to have when you have thrown your hat in the ring of big investments.

Let’s begin:

Keeping Abreast of the Daily Market

Information is power. When your money has been put toward an investment, it is always good to keep an eye out for any useful information that can help you decide if the investment is still good or if it’s time to pull out.

Keeping abreast of the daily market reports in various sites and publications is a very healthy habit to keep up.

report - In the Land of Big Investments: Three Healthy Habits to Have

Verifying Sources of Information

Naturally with everything being so available on the web, fake news has been published time and again. With so much malicious misinformation that’s available online, it is ever crucial to verify the source of the information that you are digesting.

Keeping only good sources will make sure that you won’t be fooled into giving up on your investment when it’s actually still good.

Treating Your Broker Well

If you are working with a broker or a Forex Introducing Broker, it is always good to treat them well. This, of course, does not mean that you should treat them out or buy them gifts—that would be unethical. Instead, you should remember to treat them like fellow human beings who just happen to have the knowledge that you need.

They work with you and not for you. Always remember that distinction.

Beyond these three tips, we are certain that there are a lot of other healthy habits that you should associate with investments. Do you know of any?

sad man 720x380 - Of Finances and Failures: Money Mistakes People Make in Their 20s and 30s

Of Finances and Failures: Money Mistakes People Make in Their 20s and 30s

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Money is often the friend of those that manage it well and the foe of those that do not. If you are ever going to make your money grow and work for you, it would be important to be aware of money mistakes.

Here are a few of the more common money mistakes that people make while in their 20s and 30s:

Not Having Insurance

Insurance is often seen as a nice accessory but not really something that’s relevant until you’re way older. However, by the time when “older” hits, it’ll be quite difficult. Insurance—whether for health or something else—is more than just something to help you tide through sudden loss of job or loved one. It helps protect you from suddenly being surrounded by debt, too.

insurance - Of Finances and Failures: Money Mistakes People Make in Their 20s and 30s

Insurance is actually best to get while you’re still young. The monthly fees are low and time is on your side. The younger you start, the bigger your payouts will be in the future. This is something that people should consider about insurance.

Not Having a Retirement Plan

It is never a comfortable subject to think of retiring when you are still young in your 20s and 30s. However, the economy is no longer as friendly for those that do not have retirement plans. While you are still in your prime and are able to pull in income that is more than enough for your needs and wants, it would be smart if you set up a small but regular retirement fund.

coins - Of Finances and Failures: Money Mistakes People Make in Their 20s and 30s

Retirement plans helps spare your offspring or other relatives from having to support you when you are no longer able to do it for yourself. Think of it this way, if you have literally no family to support you, how will you survive when most companies don’t hire people in the fifties?

These two are the biggest money mistakes that people tend to make—at least, the ones we’ve seen with our own eyes. What money mistakes do you think people make in their 20s and 30s?

 

Trading on the Wrong Forex Trading Platform

Trading on the wrong Forex trading platform for their trading style.  Every single Forex broker has a unique offering so it is only natural that there are a lot of different FX trading platforms available.  Trading on the wrong platform can be a costly mistake for traders so it is important to make sure you select the right one.

 

 

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Why Is It Worth Looking Into Hiring a Forex Introducing Broker?

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Whenever you are facing uncertainty in the land of investments, it is often best to get an expert to help you out. While there are a lot of different types of brokers, have you tried looking into hiring a Forex Introducing Broker?

Today, we wanted to discuss a few reasons why it might actually be worth your time and your money:

Customer Oriented

Unlike most brokers, IB’s (Introducing Brokers) are highly customer oriented rather than putting their bottom line first. While brokers will always tell you that they have got your best interest at heart, there have been several instances that have proven this to be false. Most brokers work under a firm and are assigned clients or given client files. There is very little actual interaction beyond speaking on the phone.

hands shake - Why Is It Worth Looking Into Hiring a Forex Introducing Broker?

A BI often deals directly with the clients that choose to work with them. This isn’t just a voice on the phone anymore. They are a living and breathing person that gets to know you and vice versa.

They Offer Rebates

Unlike most brokers, IBs tend to offer rebates for their clients. If you’re not familiar with the idea, a rebate is a sort of refund or partial refund for the money that you put into the investment. Big credit card companies often do this to entice clients to spend more. IBs utilize this in order to build a more comfortable relationship between themselves and their clients.

rebates - Why Is It Worth Looking Into Hiring a Forex Introducing Broker?

A rebate is important if you’re really looking to recoup some of the money that you paid toward a stock. This also ensures that the IBs is always invested that you get a positive experience regardless of whether the stock ups or dips.

These are only a few of the boons that the clients of Forex Introducing Brokers get. Have you given it a try? Why would you say it is worth the money?