December 13, 2018, 6:09 pm

Financial Tips to Avoid Debt During the Holiday Season

by: The Financial Blogger    Category: Personal Finance



There is plenty of opportunity to overspend during the holidays, but overspending will only leave you scrambling to pay back your debt in the new year. With the proper planning and foresight, however, you can make it through the holidays without falling into the holiday debt trap.


Especially if you’re already juggling debt outside of the holiday season, it can be difficult to enter this time when there are so many expectations and pressure to spend. You might not know what to do if you owe money and still have to pull off the holidays for your family and loved ones, but you don’t have to worry. There are ways you can prepare for the holidays so that you keep your spending in check.


Make a List of Gifts

Start with the essentials and make a note about things you will not be buying. Ask yourself: What do I definitely need to get? Who will I definitely be buying for? Typically, people shop for their immediate family, extended family, friends, coworkers, neighbours, and children’s teachers.


That isn’t to say you have to buy gifts for all of these people, be realistic about who you will be spending for and from there decide who needs more unique, expensive gifts and who can receive more generic or handmade gifts.


Spend Wisely

Take your list with you everywhere. It could be a good idea to have a version on your phone and a backup in your wallet or purse. Stick to the list, it’s important. You can also go into your shopping with cash only, so you know how much you have to spend and so you won’t make impulse buys. If you plan on using credit cards, plan ahead: take the card you’re using and leave the others at home.


Prepare for Holiday Expenses

The holidays aren’t just expensive because of gifts, there are other costs that we tend to forget about. There’s decorations, food and drink, travel, charitable donations, and postage and shipping for anything being mailed off.


Make a list of these expenses in a spreadsheet or planner and put down your planned spending and actual spending. Be generous with your estimations, you don’t want to spend more than you’ve planned for. If your planned spending is too high, then move some numbers around until you’ve got the right balance.


Take Action Against Your Debt

Maybe you’re already struggling with debt and can’t see any way of paying back your creditors on time. If you are in a desperate position of considering bankruptcy, then it’s time to contact David Sklar & Associates for the help of a Licensed Insolvency Trustee. They can help you figure out how to best protect your assets and what steps need to be taken to resolve your situation. A consumer proposal might be what you need, and the sooner you know it, the better. Then you can get back to planning for your financial future and enjoying the holidays without major financial strain.

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November 14, 2018, 6:30 am

Don’t let overconfidence ruin your chances

by: The Financial Blogger    Category: Trading

We are the most intelligent beings on earth. That is because with our brains we have done a lot of things in this world. There are a lot of visible example for this. And using the same quality which is our thinking power, we also have managed to work in different professions. A lot of people have top levels in this world using their calibers and their knowledge in a profession. This is also possible for a normal human being who is willing to lead just a simple life with a decent job. If you are thinking like that, your life will be just fine with proportionate effort. But, people make mistakes still being the most dominating being on this planet. We are talking about the overconfidence in the trading business. Many traders fall from their throne due to the overconfidence in decision making. In the following, we are going to talk about it in more details.

The trading business is adaptive

Those traders who have the most adaptive quality will shine a lot in the trading business. You will almost never experience the same thing in the markets of your choice. So, trades may experience a different type of positions every time. Sometimes, the trades may get a false position which was good in the beginning. But the market started to go into a wrong turn and turn against the suitable condition of the trade. A trader can be only able to deal with all of these things when he or she has the proper knowledge and skills of getting into the markets without hurting the trading account balance. This is a great quality a good trader to have. So, think about it while you are in the trading business.

Focus on your discipline

Confidence is good but when you become an overconfident trader, you actually starting taking unnecessary risk. Though fx trading Australia is a very popular term very few traders are able to make a consistent profit from this market. Most retail traders fail to make money as they don’t know the perfect way to manage their risk exposure. At the starting of your trading career, you need to focus on discipline. Develop a simple trading strategy and stick to the system regardless of the trade outcome.

Traders need to be decent

Just like we talked about in the last segment of this article a trader has to be adaptive to the conditions. And he or she who is trading should not be biased about anything either. You see, in the trading business, a trader has to create a good trading edge first for a good trading process. Then the trades from the account will have to be organized with proper planning and strategies. When all the things are covered from the top to the bottom of a trading process, you would be using it for all the trades. With different conditions, you may modify the process according to the demand. But, sometimes traders may get biased about a certain method. Winning some trades, you may get even more confidence. But, you have to remember, no one is perfect in this world. Any plans are not perfect either in this whole world. If it was then, there was no value in writing this article. So, think about it while you are in this profession or any other.

You also have to be protective

For making a good income in the trading business a trader has to be careful about losing. The number of losses in this business is more than anyone can think about. So, the possibilities of losing money are also high in this business. For that reason, the traders have to be as much protection as they can with money management plans and strategies for closing a trade. You have to do anything that helps with save your capital.


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November 13, 2018, 6:27 am

Importance of using mind map in Forex market

by: The Financial Blogger    Category: Investment, Market and Risk,Trading

Mind map is the diagram that we use to plan our strategy. If you are trading in Forex, you also should use a mind map because it gives you more ways to plan your strategy. There are many strategies but you should not use them in the form they reach to you. Try to develop them, and use them in a demo account to see the result. If you din they are not giving profit, you need to plan them again and trade on demo accounts. If you find they are giving you money, you still need to work on them to make them better. This industry never stops and you also need to change your plan. The mind map is the best way you can plan your strategy for future trends. You do not need any software but your diary and your mind to plan the strategy. Many professional traders use mind map because they want to trade money without losing. It is only possible when you think of all the risks and has planned your trades.

Psychological factors in Forex trading profession

Everyone wants to become a successful trader. But if you do some research, you will be surprised to know the majority of the traders in the United Kingdom is struggling hard. The new traders start their trading career without having a proper knowledge of this market. In their subconscious mind, they always think about the profit factors. This eventually forces them to overtrade the market. You need to have to caliber to control your subconscious mind or else it will be really hard for you to make a profit from this market.

So how do you develop your mentality? First of all, try to keep things clean in your trading platform. Overloading your charts with indicators and EAs is not going to help you. You should rely on a simple trading strategy and focus on the long-term market trend. Try to limit your risk factors by reducing the lot size in each trade. Train your mind to spot the best trades from the very beginning.

How does mind map work?

You may want to know how this mind map works. It is simple and it takes the imaginary form in your mind and uses them to give ideas. If you are thinking to place trade but you do not know what will be the outcome, you need to make a mind map. Imagine a trend where you should place your trades and think of all the strategy. You need to make a plan where to set the stop-loss if the trends go against you, you also need to set the position size so that you are not making a small amount of profit with a good trend and you also need to plan when you should close the trades. This is all possible in mind map. It is also possible to plan this in your mind but when you start giving them form, they become more efficient and you can find out the mistakes. If you have started your trading, it is better if you draw out plans in your diary. Make mind map for every trades and this way you will know if your trades are not working out. Do not think you will make a great plan but make a demo plan. Every time you mind map your trade, it gets better with time.

Is mind mapping necessary?

It is good for your trades. You cannot make money like the other traders and you need to be different. The mind map will give you a chance to make a master plan and place your trades with the right strategy. You should leave any chance and try mind mapping your plan. If you can map all the risks, your chance of losing money will get decreased. It helps to make your strategy better in Forex.


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November 12, 2018, 9:26 am

Do you really need a fancy trading strategy

by: The Financial Blogger    Category: Investment, Market and Risk

In any kind of businesses, people have to spend a lot of their investment in the setup phase. For a production business, the spending is going to be a lot.  You have to spend money on the production factory the workers and if it is a new product, marketing is a must for it. Even when you are willing to get rid of all the hassle of the production-based business and opt for distribution based business, the costs will be present there too. It may be less but, you won’t be able to overcome this issue. As with those ones, the trading business also requires a trader to spend some for his or her setup. But that does not require to be too much expensive. In this article, we are going to talk about being okay with a minimal trading setup and do just fine.

No need to invest huge amount of money

Like any other businesses, you may be thinking trading requires investment. Some even think they need a lot of money for the investment in their trading account. This kind of mentality creates problems both before and after the start of your trading career. In earlier cases, traders fear about investing too much money into a trading account. Those who have almost no idea about the trading process, literally forget about joining this profession. They lose hope and courage for doing anything in this business. After having the courage for investing too much and managing big trading accounts, the traders start dealing with too much risk. From that, they also lose too much money in the trades. If you want to join this business and don’t have too much money in your pocket, it is the right place for you.

A simple system is always the best

The institutional traders in the United Kingdom are dealing with millions and making millions in profit at the end of the year. They don’t rely on the fancy trading system rather they use the simple support and resistance level to find quality trades. Financial spread betting is a very sophisticated investment business. You can’t afford to make things complex as the market is already overly complicated. Try to keep things simple so that you can easily decipher the complex price movement and find great trades. Develop your trading skills by using a demo account and preparing yourself to be a full-time trader.

Spend less on trading platform

The trading business also requires traders to spend money on things apart from their trading account. There are several things in which you have to spend money in. it is not much though. It is the trading platform we are talking about. It consists only a few things like a computer, an internet connection and a program that will help with your trading executions. These things are not required to be too much fancy because there is no need for that. You will just have to be right with your strategies and place a trade right. For that, a decent computer and an internet connection capable of handling normal browsing are enough. The trading software will be provided by your broker. Hope you will think about it while joining the trading business.

Always stay in the safe zone

Some traders may think about this business as a jackpot machine. They probably have the information about the daily transected money in this platform or they might have heard about this is the biggest financial marketplace in this world. For those people, this is natural to think about money.. Their trades will be aggressive and have a lot of risks. Thus, possibility of losing will be higher. For those who want to survive in this business, we would tell them to be secured with their trading capital and risks. Because the less you spend, the more money you will save.


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November 5, 2018, 2:47 pm

How Small Business Owners Are Going to Benefit from Bitcoin

by: The Financial Blogger    Category: More Financial articles

Bitcoin, Cryptocurrency, Pièces, Virtuel, Numérique

If you’re a small business owner, you may be wondering if you can benefit from Bitcoin and other cryptocurrencies. While this technology is still in its early days, and cryptocurrency remains a volatile payment solution, small businesses are likely to reap huge benefits from Bitcoin in the future, when it becomes more stable and widely-adopted.

Understanding Bitcoin – A Brief Primer

Bitcoin is a digital currency that’s based on a blockchain, which is a type of decentralized ledger technology, secured by cryptography.

Bitcoin is obtained by “miners”, who use computing power to solve complicated math equations and log transactions on the blockchain.

Bitcoin is unique, because it’s not regulated by a central bank. Instead, all transactions are verified by independent copies of the same blockchain. It also has a limited supply, which helps fight against inflation. For more about Bitcoin, take a look at this article from TechTarget.

The Benefits of Bitcoin for Small Businesses

So, why is Bitcoin a big deal for small businesses? Here are just a few benefits that Bitcoin could have for small businesses.

  1. Secure Online Transactions – Bitcoin is, by definition, a secure payment method which can be easily integrated into online storefronts. This means fewer fees and lower costs to launch online stores.
  1. Faster Transaction Speeds – Bitcoin, as a P2P system, has faster transfer times, compared to traditional banking systems. For example, a traditional cash advance deposits for business financing could take multiple days to process, especially if it’s moving between countries. Bitcoin, in contrast, could process this transaction in seconds.
  1. No Transaction Fees – Because Bitcoin is decentralized, there is no central authority regulating the transactions of users – meaning that there are no fees you have to be concerned about when transferring funds to another person or business.

This is especially powerful when it comes to transferring money internationally, which traditionally can cost quite a bit of money in fees, due to the complexity of working with international banking institutions.

  1. No International Exchange Rates – Bitcoin is not subject to the daily fluctuations of international exchange rates. This makes it easier to transfer funds internationally – or accept payments from foreign customers and companies.5. Fraud Protection from Chargebacks

    – Bitcoin transactions are not reversible. A Bitcoin transaction is similar to handing cash over to a merchant – there is no way for a customer to easily file for a fraudulent chargeback, which is an increasingly common online scam.

For these five reasons and many more, Bitcoin may be the future of small business sales. It provides an immutable, convenient, and fee-free way to accept online payments both domestically and abroad and has a number of protections that make it ideal for both merchants and customers.

Look Forward to Mainstream Bitcoin Adoption – And Be Prepared

Currently, adopting Bitcoin in your small business may be difficult, and the volatility of the currency means that it is inherently risky. But, in the next few years, we expect that Bitcoin will become much more stable – and realize its true purpose as a truly decentralized, worldwide medium of exchange.

So, keep an eye on Bitcoin news, and make sure that your company is prepared to adopt the use of Bitcoin and other cryptocurrencies.


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