January 29, 2019, 1:20 pm

How to Collect Savings for your Kid’s Education

by: The Financial Blogger    Category: Financial Planning,Personal Finance

Post-secondary education can open doors for your kid in the future. It can forge their path to a fulfilling career and increase their chances of gaining a comfortable salary. As a parent, you want your kid to have every opportunity to follow their dreams. You can help make that possible by saving up for the costs of tuition, right now.

Start Saving Immediately:

It doesn’t matter if your child is still a toddler — it’s the right time to put money away for their education. The sooner, the better. The costs of tuition are high, and you’ll need time to generate enough savings to cover these costs.

A survey from the College Board found that the costs for attending an in-state public college average out to $25, 290 in a single academic year. These costs include tuition, housing, service fees and supplies. For a private college, the average costs rise all the way up to $50, 900 per academic year.

What’s more concerning is that the price of tuition grows with every year, so parents with very young children will have to plan for the real possibility of higher costs. In comparison to the averages from 2017-2018, the costs of college in 2035 are predicted to be $54,070 per year at public institutions and $121,078 per year for private institutions. That’s only 16 years away. If your childis still in diapers, these are the prices you might be dealing with when they’re applying for college.

Strive For A Third:

Financial experts advise that parents saving for college aspire to put away enough of their earnings to pay for a third of their child’s overall education costs by the time they apply for college. Another third should be paid off with earnings, grants and scholarships while the child is in college. The final portion should be handled with student loans and paid off after they have finally graduated. If you start saving for this goal now, you’ll have made good progress by the time your kid is in high school. According to a recent survey, the average family saves up $19,784 per child to pay for their college education —  this is lower than the average saving goal of approximately $38,953 each. Don’t be discouraged by the possibility of missing the mark — keep pushing towards the goal you’ve set. What
you end up saving will be of more help than if you hadn’t begun this process in the first place.

Open The Right Account:

Parents have good intentions when they open up a savings account in their child’s name.

The better move is to open up a 529 plan because it is specifically designed for college savings and it offers tax and financial aid benefits that won’t come with your regular savings account. The plan has no limitations on age, so your child can use it even if they don’t move onto college right after high school. Every state has their version of the plan, so do your research to see what benefits yours offers.

Leave The Fund Alone:

The only time you are supposed to touch the contents of the fund is when your child is finally accepted into college and paying the tuition. Grabbing money from the fund will stifle its growth and encourage you to keep finding reasons to take from it again.

As a specialty savings account, it comes with the benefit of compounding interest that benefits from a larger balance. By syphoning money from this fund to pay for unexpected bills, you’ll lose out on this extra cash. You’ll also likely face penalties in the form of taxes and fees for withdrawing cash early for reasons other than education.

If you’re dealing with an emergency payment and you need some extra cash to take care of it, don’t dip into the college fund even if it’s only for a small amount. If you need a quick fix for this minor crisis like an overdue bill or unexpected car repair, consider using an installment loan. To see if you’re eligible this product, check out Moneykey.com/installment-loans-online/ to learn more.

Online installment loans are short-term solutions that can help you deal with your problem right away. The repayment term is long so that you can tackle it at a convenient pace. You can learn more about the process at the official MoneyKey website.

The costs of post-secondary education are intimidating. At times saving for tuition may seem like an impossible mountain to climb. But with planning and determination, you can make it happen. You can save up enough to get them into the school of their choice and proudly watch them earn their degree.

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January 21, 2019, 11:24 am

Motivating Yourself After A Trail Of Losses

by: The Financial Blogger    Category: Investment, Market and Risk,Make Money Online,Uncategorized

Image Source: Pixabay

The forex market is not for the fainthearted. This is because traders do not always make profits in there, but also sometimes lose all their investments. Its Risk-taking, motivation, and persistence which make the traders survive in the market. So, if you are currently frustrated by your market performance, do not throw off the towels just yet, don’t give up in the trading. Some of the most successful personalities in the industry started by experiencing trail of losses but made it in the long run.

Here are top ways that can motivate you regardless of your past losses:

  • Remember what made you start the trading in the first place

Why did you decide to try forex trading? Did you have a passion for it or you simply wanted to make money out of it? Your final decision can only be based on the reason you joined it. Maybe you have trading too much such that you don’t get to relax or rest. Refresh your mind, take a break for the forex trades and implement stronger strategies.

  • Read more about successful traders who were once in your shoes.

As earlier mentioned, most traders experience losses at the beginning when they are new in the market. This is mainly because they do not usually have the right trading skills and strategies to grow forex trading account Singapore. There are many helpful books on the internet such as the market wizards by Jack Schwager. Through these books, you will be motivated by leaning on how these traders overcame the problems you are currently facing.

  • Avoid trying to get rich quickly

One of the main reasons why forex traders get into losses is because they want to get rich as soon as they get into the market.  Although it’s not wrong to have high-performance ambitions, you will be doing everything wrong when you want to get big profits. You will probably overtrade, and carry out emotional trading. You will also be risking too much of your investments with the aim of making big profits. For this reason, you can motivate yourself by making minimal investments at a time. Once you get enough funds to invest, you can start trading more.

  • Use a demo trading account

Keep your trading simple by using a demo trading account for your transactions. This will help you to develop your skills such that you won’t be disappointed again when you go to the live market. The demo trading will balance your emotions once again, and help you to regain your trading focus. It will also help you to know that forex is not all about making money, but arming yourself with the right forex strategies.

  • Create a trading plan

Create a good trading plan if you initially didn’t have one. The plan might take your time, but it will be worth it if you do I will. There are many things to include to your plan, but the most important is about how you manage your risks.  Calculate the amount of risk that you can get form a single trade, and then consider if it’s worth taking.

  • Go live again when you are ready

After trying all those methods, you will probably have confidence in your forex trading endeavor. All in all, work with the trusted Singapore forex broker like Saxo who can help you to minimize the risks.

Conclusion

Always remember that the world doesn’t end when you are frustrated. Learn to take breaks from the day to day forex trading as the work can sometimes be too much engaging. Also, re-access your work to understand your strengths and weaknesses. Use a trading method which will not take most of your time and time which will not be too much complicated for you. The determining factor of one’s failure of success starts on their mind. Have the right mentality, and you will not be frustrated again.

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January 14, 2019, 10:23 am

How a Poker Player’s Mindset is Essential for Financial Investing

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

Photo by World Poker Tour / CC BY-ND 2.0
Caption: Vanessa Selbst: Living proof that poker players have the same mindset as financial traders.

There is a reason why the high-stakes financial world employs former professional poker players. It’s because they have a mutually beneficial appetite for risk. They must prepare to make sense of “noise” and patterns to employ informed decisions at the poker table. Recently, a three-time World Series of Poker winner retired from playing cards in favor of signing up to the world’s largest hedge fund, Bridgewater Associates.

Thirty-four-year-old poker sensation Vanessa Selbst is one of the most successful female poker players of all time. With almost $12 million in career earnings to her name, Selbst opted to take a different career path. Selbst already worked for one of the U.S.’ biggest consultants, McKinsey & Company, and graduated with a law degree from Yale University, so the world was her oyster after poker. However, Selbst opted to take a risk and move from one highly-charged industry to another in financial investing. Selbst battled through an intensive nine-month course on economics and Bridgewater Associates’ unique trading philosophy to secure a role as a junior analyst. So, why do poker players make good financial investors? What attributes do these demographics share?

They Have to be Savvy and Know the Right Tables/Markets to Play

Savvy poker players take the time to assess the best deposit bonuses and range of cash games and tournaments offered by the leading “must-have” poker rooms. Even savvier poker players will also choose poker rooms that have the weakest competition, e.g., a large volume of inexperienced, amateur players. That will give them an “edge” and a chance to dominate tables. Savvy investors also seek brokers that offer the most competitive spreads and transaction fees. More importantly, they also only invest in markets they have an “edge” in, founded upon technical or fundamental analysis.

Both Demographics Must Be Well-Acquainted with Risk

The most talented and successful poker players and financial investors know when to take big risks and still maintain a level head. The last thing you want in the trading business is to become overconfident with your decisions. Poker players and financial traders must be capable of taking an unbiased view of their decision-making and the time to understand why certain risks go wrong. Both poker players and financial traders know that without risk, there is no reward.

Poker Players and Investors Must Expect Downswings and Upswings

For both poker players and financial investors, it is critical to be able to adopt a “zero-memory” attitude, as losses are inevitable when it comes to playing poker or investing in the stock market. However, it’s crucial not to let the losses cloud your future judgment. Instead, poker players and financial investors worry about their long-term profitability. Sure, they may have a losing week, or even a month, but if they are profitable throughout the course of a year, that’s all that matters. Those that struggle to maintain profitability in poker and financial trading are those that make different decisions after wins and losses. People who suffer huge losses and become increasingly stubborn take risks.

Both Demographics Must Attune to Patterns and Signals

Poker players must know the right time to strike at the table. It doesn’t matter whether it’s an opponent’s decision-making or even their “tells,” successful poker players are razor-sharp and process everything to make sense of the information they have. It’s the same with financial investors who are sometimes must pore over years of data to understand support and resistance points in the market.

The highs are quite high. Equally, the lows are quite low. That’s the way the cookie crumbles as a poker player and a financial trader.

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December 19, 2018, 7:40 am

5 Quickest Ways to Increase Your Website Traffic

by: The Financial Blogger    Category: Blogging

Have you been struggling to increase your website’s traffic? Are you looking for ways to resolve this issue? It seems that no matter what you do, your site’s traffic does not budge. As a result, you are not making enough money or converting sales.

Fortunately, you don’t have to be an expert in SEO or even at copywriting. There are quick ways to increase website traffic, and all of them can return with satisfactory results. So, without further ado, here they are.

#1. Optimize Your Website Content

This method is the very foundation of the system; hence, it’s important that you dedicate time to cultivate this method. If you really want to increase your site’s traffic, it’s imperative that you optimize your website’s content. This is where you need to use relevant keywords that are within your industry or niche. Also, you need to be more interesting with every article or blog you post. Make sure that readers’ interest will be piqued whenever they read your original and unique write-ups.

#2. Start Email Marketing        

Do you want to find a way to get in touch with your customers and help them stay updated with whatever products or services your website has to offer? If so, then start email marketing now. You can do this by sending out regular informative newsletters or promotional discounts and special offers. Doing so can drive traffic straight to your website. For instance, you want to inform your customers about digital advertising strategies or talk about specific topics like marketing platforms, such as the Bannertbit.com platform. This is where you are going to use email marketing to your advantage, by sending them directly to this newly peace of content or promotion.

#3. Guest Blog

Believe it or not, guest posting can help you drive more traffic to your website. Many business owners fail to realize the importance of this practice. Just because you’re writing content for another website doesn’t mean that you won’t benefit from it. The idea here is to use an authoritative site’s to put your content in front of its established readers or visitors. Your goal is to let these people know that you exist – and your golden ticket here is the authoritative site (or sites). Make sure that you follow the guidelines of the blog or website you are hoping to post your content on. Otherwise, you won’t be given the approval to do so.

#4. Engage Online     

Given today’s Internet technology, you have all means to engage people online. You can do so via social media sites, such as Facebook, Twitter, and Instagram, among many others. Post relevant content, share stories about your business and reply to inquiries or comments. The basic idea is to be proactive online, so people will notice your existence. Once you get to pique their interest, they will eventually want to know more about you or website.

#5. Get Listed   

Yes, that’s right – getting listed on various online directories and review sites can help you increase your website’s traffic. These sites give you the means to create a profile that is linked directly to your website. In order to be efficient, you must constantly update your profile every once in a while. Your goal is to receive positive reviews, which is something that can be achieved by responding to inquiries or answering simple questions related to your topic or niche.

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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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