May 17, 2017, 1:28 pm

Why You Should Have a Digital Wallet

by: The Financial Blogger    Category: Personal Finance

One of my first jobs was to work in a store as a cashier, among other tasks. Back then – and that is not too long ago – I’d wait for the clients to take their wallet out, calculate their spare change and finally pay their goods. I must admit that during a busy day, I was getting impatient by all this process.

Things surely evolved since then. In a small decade, social medias exploded and smartphones hit the market big time! Many people tend to react negatively to technological changes. However, there are many advantages to turn your old leather wallet into a digital one!

 

What is a Digital Wallet?

A digital wallet is an electronic device, usually used with a computer or a smartphone, that allows one to make electronic transactions. Traditional bank account or credit card can be linked to an e-wallet. Other credentials could be included depending on the service: driver’s license, health card, ID documents and even bus pass, concert tickets and gift cards!

A digital wallet can be a good thing for your online purchases but also for items bought in-store. In fact, more and more businesses, including merchants, now rely on a digital wallet company for their in-store transactions. Some stores will even have their fidelity program provided by the help of a digital wallet service company.

Through the app in your smartphone, simply tap your phone on the register or enter your pin and all is quickly paid for. Such service provides fraud protection for the merchants and enables them to improve their customer experience in terms of payment processing.

There are many examples of such companies. Paypal probably is the most well-known for the average man in the street. Google Wallet also has its fans because of the Google brand itself. Another good alternative for merchants and customers is Paysafe as they are known for their easy to use digital wallets. But truly, the list goes on and you could find the one that answers best your needs within a few minutes.

Should you be a business owner, digital wallets could be a game changer as well!

 

The Advantages

 

Theft

Because your digital wallet does not include physical cards and personal information, it is easier to stay safe. Used with a locked and secured smartphone, it is a lot more complicated for a theft to get to your money. At the very least, it gives you more time than before to react and cancel your credit card.

 

Simplify Your Finances

Because we almost never go out without our phone anymore, it becomes very easy to use it for every payment. That way, you can quickly track your expenses at the end of the month and become more dedicated to your financial goals.

If you can link your bank account, gifts cards, credit card and other financial tools to your e-wallet, you can see at a glance where you’re at and everything applies automatically.

 

Save Time

Do I really have to explain that one? It does take a little time to set, but once done it saves time before your purchase, during, and after.

 

Main Concerns

The two main concerns about having a digital wallet are: security and expenses explosion!

In fact, experts agree that security on digital is higher than traditional methods. However, one has to be careful to use proper passwords and lock its smartphone for better results.

As for expenses explosion, it becomes very easy to spend within seconds and allow people to express their impulsive spending side, which is not necessarily a good thing. Used properly though, digital wallet can save you some!

 

Do you use such service? What do you think about it?

 

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April 3, 2017, 9:35 am

You May Be Ready but Have You Prepared for Retirement?

by: The Financial Blogger    Category: Financial Planning,My Plan to Retirement


In the USA the figures don’t make good reading. Many citizens are carrying credit card debt that incurs a high rate of interest. Too few have sufficient in their retirement fund and seem to think that Social Security will make a significant contribution to comfortable retirement. The latter is simply untrue; it was never designed for that and the System is increasingly under pressure as the fund is dwindling. Don’t expect the Republican Party to increase taxes any time soon to boost it. You need to be saving and one thing that you can do immediately to help if you have credit card debt is to borrow ironically. A personal loan can pay off that balance and the interest you will be paying is significantly lower.

You deserve a comfortable retirement after a long working life but you have to earn that as well. The sooner you start to save, the more chance you have of success. If your dreams of traveling, fishing and spending time with the grandchildren, you will need money and after the regular monthly paycheck stops, you must know where the finance is coming from. Today’s population that is approaching retirement has begun to understand the problem. According to a recent survey by Transamerica Center for Retirement Studies almost half fears that its investment is insufficient.

 

Things for Serious Consideration

Here are a few things to consider when you are thinking about retirement:

  • You can draw Social Security as early as 62 but you will receive significantly less per month than if you wait until full retirement age, 66 and rising to 67. If you can wait until you are 70 there is more again.
  • You should not be carrying any significant debt if you are considering retirement. Some as normal as a credit card balance will be a problem because of the interest you will be charged.
  • Hopefully all your children will now be financially independent. That means they are working and in control of their own finances, including the repaying of their student loans direct lenders where applicable.
  • If you are helping to support elderly parents then it may be you need to delay the decision to retire.
  • You certainly must sit down and work out a realistic budget. If you have lived by one throughout your life there is nothing that should cause you too much concern. However, if you have found that over the years you have been spending virtually all your monthly paycheck to cover your bills, you should reflect that on retirement, your paycheck stops.
  • Those of you that have had an investment portfolio and can afford to maintain one after retirement should look at whether you have too much risk in that portfolio. The recession hit many portfolios but although the recession has gone, there are some economic indicators that suggest there is no boom on the horizon even if Donald Trump suggests he can get the country moving ahead. If you have any concerns, you should talk to a financial advisor and address those concerns.
  • Retirement affects more than just yourself. There may be wife, children and even elderly parents. You should certainly discuss everything with your wife to reach the best possible answer to your circumstances. If you are both working then you may decide that one of you retires immediately and the other continues for a while. It is a matter of doing the calculations.

So What Do You Think?

After looking at each of these aspects, you may be closer to reaching a decision on retirement. You need to consider how you will spend your time, bearing in mind you will need to be able to finance those activities. If you have many friends who have retired that is a different position than if your friends are mostly working. One thing is certain; there are too many Americans today who have not got the luxury to retire early with plenty of money to enjoy the dreams they had when they were younger. If this is you and retirement is still some years away, act now, reduce any debts you have and start to save.

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March 31, 2017, 11:09 am

6 Ways for Students to Make Money Online

by: The Financial Blogger    Category: Alternative Income,Make Money Online

Whether you’re studying for an undergraduate degree or have returned to education to gain your online masters in public administration, there are many great ways to boost your income as a student and get yourself a little bit of extra cash to spend or save. With tuition fees at an all-time high, it’s no surprise that more students are looking for ways to improve their financial situation as they study. We’ve listed some of the best ways for students to make an extra income online.

Paid Surveys

If you don’t mind watching videos and answering questions about new products, marketing materials and more, then you could make some money from answering paid surveys online. Although you’ll never become a millionaire from taking online surveys, it can be a quick, easy and convenient way to earn an extra few dollars when your bank balance is low.

Blogging

If you enjoy writing and sharing your experiences with others, then you might want to consider becoming a student blogger. With a variety of different blogging platforms to choose from where you can get started for free, it’s never been easier to start making an extra income as a student. Bloggers can earn money from pay-per-click advertising, sell products at an e-commerce store, paid content, eBooks and more.

Sell Online

Whether you’ve upgraded to a new laptop for your online MPA program or have loads of old clothes that you no longer wear, selling your old things online can be a great way to make an extra income whilst at college. When it comes to selling online, there really is no limit to what you can make money from, whether it’s your old textbooks, gadgets, or kitchen utensils!

Offer an Online Service

Another great way to make an income online as a student is to offer an online service. For example, if you can create stunning websites you could set up your services as a graphics or web designer online to make an income. However, be aware that making money as a freelancer offering services online can often be very competitive.

Review Sites and Apps for Cash

If you are amongst the first of your friends to try out a new website or app, then you may be able to do it for cash. Platforms such as User Testing pay everyday people to test out and review all kinds of different websites, with each review taking around 20-30 minutes and earning the user $10.

Publish an eBook

Whether you have some great ideas for a self-help book for students or enjoy writing fiction, it’s never been easier to make money as an author today. As a student, you have the advantage of being good at researching and writing, so why not consider writing and selling your own eBook to make an income online? The best thing about eBooks as an income source is that you only need to write them once, but you’ll earn money from every sale.

Would you like to add to this list? We’d love to hear from you in the comments.

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March 27, 2017, 3:28 pm

Here’s How To Actually Succeed as a Part-Time Day Trader

by: The Financial Blogger    Category: Make Money Online,Trading

Day trading is gradually becoming one of the glamorous ways to rake in the big bucks on Wall Street without actually showing up at work with a suit, tie and briefcase. The media (online and offline) constantly treats us to stories of everyday people who are making millions of dollars on the stock market as day traders. Most people who take up day trading are actually not much different from Wall Street types. A simple Google image search for “Day Traders” will show you hundreds of pictures of folks looking intently at multiple trading screens.

However, the media paints a somewhat different image for the successful day trader. The media portrayal of the successful day trader often shows someone in an exotic island, someone lying on the warm sounds of a beach, or a someone is pajamas who makes million lying in bed or on a couch. Of course, you can succeed as a part-time day trader. In fact, part-time day trading lets you control offer you freedom. This piece seeks to disabuse your mind in providing you with actionable information that can help you succeed as a part-time day trader.

Set specific trading hours

To succeed as a part-time day trader, you’ll need to approach day trading as a part time job with specific working/trading plan. Of course, part time day trading should give you a chance to trade the market at your convenience; nonetheless, you’ll need to examine your schedule and carve out time that you’ll devote to the market.

If you are currently employed and you want to combine trading with your day job, you should set your trading hours apart from your regular working hours. In fact, you’ll most likely lose money if you think you can trade the markets during your commute to/from work because you’ll be making trading decisions without being in the trading ‘zone’.

Trade only assets you understand

The financial market is very huge and there are different kinds of assets available for trading and investments. You can trade CFDs, stock, options, forex, ETFs, commodities, and futures among others. Even in the specific asset classes, you can still streamline your trades to zero in on specific economies, industries, sectors, and companies.

However, the fact that Wall Street provides you with an opportunity to trade all sorts of assets doesn’t necessarily mean that you should become a jack of all trade trader. It would be in your best interest to limit your day trading activities to assets that you can actually understand. More so, you’ll need  a working knowledge of fundamental and technical analysis to succeed as a part-time day trader.

Take up day trading as a serious business

Lastly, you need to approach day trading as a serious business irrespective of whether you want to be a full time to part-time day trader. You’ll need to decide how much money you want to put into your day trader activities. It is better to start trading with a small capital and increase your trading capital as you hone your skills.

You’ll need to have a dedicated trading space – at least, you should invest a dedicated trading computer and high-speed internet connection. You should also take the time to plan each of your trades with definite entry strategies, exit strategies when the trade goes your way, and escape strategies when the trade goes against you.

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March 22, 2017, 10:14 am

5 Ways You Can Make Money Online While Pursuing a Career in Business Administration

by: The Financial Blogger    Category: Alternative Income,Blogging,Make Money Online

If you currently work as a business administrator, you will be happy to know that you can also earn a second income using a variety of methods. Having an online MBA degree, which was obtained using one of the many online MBA programs with Northeastern University, will pay dividends for your future, and not just on the career ladder. If you are looking to take advantage of your business administration experience by trying to earn a second income online, have a look at some of the ways below that will let you do exactly that.

1. Become a Part-Time Writer

All websites online require good quality written content to entertain their readers, and that means there is plenty of space for you to offer your writing services. Even if you do not have sufficient experience when it comes to writing, there are still many websites out there related to business that are crying out for people just like you. Have a look online for writing jobs and find out for yourself how much money can be made from offering your business administration experience to readers.

2. Start Your Own Online Business

With business administration experience, you already have experience of being able to run a business, so why not take your experience online and start your own? Whether it’s an ecommerce business selling the latest clothing trends, or a simple blog that offers readers your business administration experience in return for donations, there are plenty of business opportunities online that don’t have to take up all of your time, so you can still concentrate on your full-time job.

3. Offer Virtual Assistant Services

Businesses are crying out for virtual assistants so there’s no reason why you shouldn’t try to make a second income offering your services. The job varies greatly – one minute you could be on the phone to a customer and the next you could be entering data into a database.

4. Offer Business Advice as a Freelancer

With a ton of experience in the business industry you will be able to offer advice to people wanting to start their own business. You will likely have the most experience in a certain sector of business, whether that is finance or employment, so there isn’t any reason why you can’t become a freelancer and offer those services professionally.

5. Link Building

All websites need back links to better their search engine presence, and to get those they need to hire people to make it happen. There are many ways you can offer link building services for clients, whether that is through guest posting or by simply entering their link in a link directory.

Earning a second income online isn’t hard at all if you look at the above options. There are many other jobs that can be undertaken online and as the internet grows further, there will be even more opportunities for you to be able to earn money.

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