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Category: Money

Are You Struggling With Personal Finances Due To Family Size? Try These Things

Published by Will Chatham on 3/23/2022

Are you struggling with personal finances due to family size? There are so many different elements that come together to make up your personal finance situation. We know that there are some people who are better off than others, and we know that there are some people who are simply better at managing their money. But, if you have a big family then being able to work out money well is crucial to being able to afford everything. In this article, we’re going to be taking a look at some of the things that you can try to keep yourself on track, so keep reading if you would like to find out more.

Budget

The first thing that you are going to need to do is go over your budget with a fine tooth comb. If you don’t have a budget at the moment then you need to make one as soon as possible as this is what is going to keep you on track. It’s not the easiest thing to live on a budget as there are often unforeseen expenses that you have to pay which can put a huge dent in your finances. But, that doesn’t mean that you can slack on the budget.

Make sure that you go through every single outgoing expense and ensure that it is crucial. The bills, the money for groceries and all of this is essential. If you are trying to budget luxuries though, this has got to stop. These are something that come later, when everything else is paid.

Be Careful With Large Purchases

You also need to be careful with large purchases if you are going to keep your money in check. Sometimes these purchases are unavoidable, like if you need to buy a car or a house, but that doesn’t mean you don’t need to be super careful with it. For example, one thing you cannot afford is to purchase a new car only to have it fail on you in a week’s time. As such, you should make sure that you are doing your research into the best cars for a family of your size, and looking at things such as fuel consumption as well as general reviews. Edmunds is a great place to get all of this information, so you can take a look at their website to help you make this choice.

Learn To Say No

Unfortunately, while you might not want to, when you have such a large family and a tight budget, you have to be able to say no. You are not going to be able to please everyone no matter what you do, so you have to stop trying. Money will only go so far no matter how careful you are.

We hope that you have found this article helpful, and now see some of the things that you can do in order to manage your personal finances. A lot of people struggle with this for a variety of reasons, but if your problem is family size then you just need to make a few adjustments. You’ve got this, you just need to work to ensure you’re getting the most out of your money.

Is Investing in the Stock Market a Bad Idea These Days?

Published by Will Chatham on 2/3/2021

Investing in the stock market seems to be one of those jobs that everyone envies. After all, you’re basically shifting money around and pocketing some of it for yourself. You make money off other people making money, so everyone’s happy at the end of the day–right?

If you’ve been following recent events then you’ll no doubt have learned about the millions that people have made from GameStop stocks. Without going into too much detail, it was essentially a rebellion by Reddit users to raise the prices of a shorted stock so that hedge funds would be forced to buy them back and suffer huge losses. This was essentially a way for many people to vent their anger at the rich and stick it to them.

However, while many people profited off it, the stock has since plummeted and it was clear that there was a lot of intervention by these rich elites that helped to crush the surge. For example, several trading platforms disabled the buying of GME and Google even removed many negative reviews of the offending app.

So with all of this in mind, is investing in the stock market a bad idea? Is it clear that it’s just being manipulated by the rich and wealthy and everyone else is just along for the ride?

Investing makes sense if you believe in the brand

A lot of people try to invest in order to make money. They want to become day traders and shift stocks around to make a living. Unfortunately, this is a big investment mistake if you’re just getting started. You really need to have a lot of money if you want to make money, and this is sadly not possible for most people.

You can try to trade less expensive stocks to try and make money, but there’s always a possibility that you miscalculate something and end up losing all of your investment. That’s not a good place to be, especially if you’re not doing great with your money in the first place.

Instead, a much better approach to investing is to actually put your money where your trust is. If you truly believe in a brand and are willing to support it, then there’s no problem investing in their shares if they’re a publicly-traded company. Companies such as Netlinkz have much more stable share prices and they’re less likely to attract the attention of big investors that can manipulate the price.

At the end of the day, if you believe in a brand, then you can show your trust in them and invest. This is arguably the best way to approach trading–by buying into brands that you truly believe in and want to support.

Investing isn’t gambling, but you need to be well-informed

Trading isn’t for everyone. It’s going to be out of your element unless you’re well-informed and you’re either going to end up losing money or making a lucky investment that pays off. For example, there are many people that cashed out during the GME situation and they ended up making a lot of money.

However, that still isn’t a get-rich-quick scheme and now that the price is plummeting, it’s clear that a lot of people have lost money in the process. Investing in the stock market might not be a bad idea, but thinking of it as a way to get rich is a quick way to lose your investment.

It’s worth bearing in mind that investing your money is so much easier, and more likely to be successful, if you have the right kind of help on board. As we have mentioned already, a robo advisor can certainly help, but you might also want to think about using a wealth management suite as well.

The best of these give you a fantastic opportunity to be able to look after your money, and all the while you can simply allow your money to grow while you sit back and let it happen. Investing your money is a lot easier with this kind of help. If you take a look at something like the Edward Jones login, you will see a perfect example of the kind of tool suite that is likely to be worth looking out for.

Making use of that kind of help will mean that your investments return a lot more for you.

Useful Tools For Keeping Your Business’ Finances On Track

Published by Will Chatham on 11/19/2018

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Of all the things that need doing to keep your business running smoothly, finance isn’t everyone’s forte. In fact, managing your finances can be far down on your list of priorities – but it’s one of the most important processes. Even if you’re not the most mathematically savvy, there are tools available to you that make running your business’ finance easier than ever.

Save time and keep your money in check with these useful tools for keeping your business’ finances on track.  

Accounting software

For small businesses, hiring an accountant can be a no-go, as hiring more personnel could be at the bottom of your priorities. However, thanks to technology, there is accounting software and applications designed to help make keeping your accounts up to date easier. The best accounting software will help you keep everything stored in one place so that you can manage your accounts on the go.

Reconciliation tools

Errors in reporting can be detrimental to your business, and even if things are better than what you expect – there should be no errors when it comes to your financial reports. Bank reconciliation software can help you manage your cash flow, match up your transactions and make sure that the balance you see for your business is accurate. This way, when it comes to your business’ finance, you’ve got all of the correct and up to date information at your fingertips.

Payroll management system

A payroll management system can be vital for managing your employees – especially if you deal with shift workers or contractors who might not get paid the same amount each month. Through a payroll management system, you can add rosters, apply payments and monitor things like vacation days to keep everything up to date. A cloud-based system will provide greater access to staff out of hours in case they need any information about their pay and other details.

Expenses tracking

If you usually gather all of your receipts in a box or some other form of unofficial ‘filing’ system, there’s a strong possibility that something is going to end up missing! Keeping track of your business expenses helps to keep things up to date, lets you see what you’re spending and keeps the tax man happy. Tracking your expenses in real-time can be a good way to reduce your small business spending and make sure that you are on track with your receipts. Seeing all of your spending in front of you could identify simple areas for cuts that will help your business run more efficiently.

Choosing the right financial tools for your business can take the stress out of business accounting and help free up your time to deal with more important matters. With more and more tools becoming available all the time, it’s worth keeping an eye on finance and business news to help you stay up to date. Managing your business’ finances might have been a pain in the past, but the future is certainly looking brighter.

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Initiative Q

Published by Will Chatham on 10/26/2018

There is a new currency and payment network built by ex-PayPal employees called Initiative Q. The Q currency is currently being allocated for free if you are invited by an existing member. The idea is that if millions of people join, Q could become a leading payment network, and, according to well-known economic models, that means the value of the reward would be around $130,000. The amount you reserve upon signup decreases every day, and each member has a limited number of invites. You can use my invite link here: https://initiativeq.com/invite/Br3w9plhX

You only need to give your name and email address, then your spot is reserved. You don’t ever have to hand the a dime if you don’t want to, so there is no harm in trying it out, in case this does ever take off.

I remain skeptical, but I thought I’d share, in case anyone else is curious.

Should You Get A Loan? Finance Advice For Your Situation

Published by Will Chatham on 10/13/2018

Whether you’re in financial difficulty or relatively comfortable, chances are you’ve considered a loan at some point. You might be planning a particularly ambitious DIY project, looking to add another room to your house, or simply wanting to add a little cash to the coffers before next payday. All of these are understandable reasons for taking out a loan, but there’s a little more to it than that.

Before you apply for any sort of loan, you should be a hundred percent certain (or as close to it as possible) that this is the right decision for you. Loans are not free money; you’ll need to pay back the amount you borrowed plus interest within a time frame specified by the lender, so there are several reasons you might not want to take one out. We’ve collected a number of questions you can ask yourself before you apply for a loan to make sure that doing so is absolutely what you want.

Is this the right lender?

There are a number of disreputable or shady lenders out there who will attempt to deceive you with sweet talk before slapping huge interest rates or hitherto unseen terms and conditions on your loan, thus creating a much more difficult situation for you than you’d previously envisioned. Before taking out a loan, thoroughly research the company you’re going with as a lender. If it’s your bank, make sure you talk to someone at the bank and go through your circumstances first. If it’s a private company, then research them on the Internet and make sure they’re legitimate. To begin with, try a company like this for your loan, one that’s trustworthy and upfront with you about costs and risks.

Do I need this loan?
It might sound silly, but it’s definitely worth considering whether the loan you’re about to apply for is definitely one you absolutely need to take out. It’s no good saddling yourself with monthly repayments if the loan isn’t absolutely essential, or if you’re not one hundred percent sure you can pay it back. If you’re struggling to pay your bills this month but you know you’ll be fine next month, then the loan is arguably essential and you should proceed. If your financial circumstances are strong and you know you can make repayments, but you just don’t quite have the capital to begin that DIY project, then go ahead. If, however, you’re looking to add another room to your house but your finances are in dire straits, then you should shelve the idea of taking out a loan for another day.

What type of loan do I need?

There are several kinds of loans you could look into if you’re after a quick cash injection. Unsecured loans are simply amounts of money borrowed from banks, building societies or third-party companies. They’re usually lower amounts of money because there’s no asset they’re secured against. Secured loans, by contrast, are usually borrowed against your home or vehicle, and because of this, the amount you can borrow is often higher. There are specific types of loans which fall into these two categories; payday loans, for example, which are quick injections of cash with typically quite high interest rates, and logbook loans, which are specifically secured against your vehicle. Make sure you know which kind of loan is right for you before applying.

Can I make my repayments?

This might be the most crucial question you need to ask yourself before applying for a loan. If you know that you won’t be able to make your repayments in the future, then a loan is a very bad idea for you. Not being able to pay off a loan will negatively impact your credit score, making it more difficult for you to apply for more in the future as well as affecting many other fiscal decisions you might want to make. In addition, if the loan is secured against your property or an asset you own, then not being able to repay it might mean that asset is repossessed. Examine your finances very carefully before you take out a loan; it shouldn’t be a means for getting you into more financial trouble, but for lifting you out of it.

What is my credit score like?
Counterintuitively, taking out a loan can actually really help with your credit score. If you’ve struggled with repayments in the past, or you’ve come up against problems when repaying a mortgage, you might have a poor credit score. If you’re more financially solvent now, taking out a loan and making prompt repayments can raise your credit score. In addition, if your debt is mostly of one type – credit card debt, for example – taking out a personal loan can add to your “account mix”, raising your credit rating and making it easier in future for you to get loans. There are several services available online for checking your credit score – they’re usually free and the forms take minutes to fill out, so it’s always worth finding this out.

Can You Invest In Real Estate Without Being Filthy Rich?

Published by Will Chatham on 4/24/2018

The average Joe is shut out of many investing arenas not because he or she is not part of the elite, but because they simply don’t have the capital. But in the modern world, we all would like to invest our money somewhere smartly. Many people are hesitant, but the reward of your money making more money is far too great for others to miss out on. Sensibility plays a huge role in how we make decisions because behind our wallets are our minds. Some of us wouldn’t mind a high-risk high reward investment plan, but for others, the odds have got to start in their favor. This kind of polar opposite in personality is everywhere no matter how rich or poor you are. Real estate has been and always will be the top dog in investment with the global property market valued in the hundreds of trillions of dollars. So you would think that with so much money floating around, there would be just as many opportunities. Put simply there didn’t use to be, as in truth you had to be rich to invest in lucrative real estate propositions. Not now though as real-world currency plays a bit part instead of running the show.

Tokenized opportunities

In an effort to make the real estate industry more transparent and fluid in how it does business. Tokenization is fast becoming the trend to hedge your bets on. Individual and asset management companies are willing to put their properties in the digital realm where there are more opportunities. Tokenization is simple, but because the concept is new, people often freak out and veer away from it as they think it’s too complicated or just a fool’s hope. A property owner can register his or her property with a cloud platform token blockchain. After being accepted by the company whose platform it is, they need to register their wallet in order to get ready to receive and distribute tokens to financial institutions; one of these systems is the i-house IHT Token. The property is then split up into different segments. Smart contracts for each part of the property are issued and then given a token as to what their real-world value really is. On the platform, the owner can track how their property is doing via the asset income display. They may also want to check out who is buying and who is selling via the asset transfer platform. Put into layman’s terms, properties are split up into tokens, and each token has its own value. These tokens can then be bought and sold freely with everyone keeping notes as to what’s going on, so there is absolute transparency.

Where Joe comes in

So now that properties are being accurately valued for each of their segments, this means they get split up. After tokens are assigned to them and then given to financial institutions, they are then sold to individual buyers. Because the properties have been segmented there are differing values to them. This gives the average Joe a chance to invest in a property without having to bust the bank. Rather than being an investor, you’re a buyer owning a piece of the pie without any obligation to hold onto it. As the smart contract can be bought and sold as a token, there is no need to involve a mediary either. Every transaction is open and honest, done on the cloud platform. This makes a blockchain meaning all the data of who bought what from who and for how much is not hidden. As there are many witnesses to the blockchain, the selling and buying is more honest and transparent therefore it invigorates one’s trust to buy. The legal side of investment puts the average Joe off his morning coffee. It’s boring and complicated to many, but in the past, it’s been necessary. However, with blockchain platforms that use tokens as the currency of buying and selling real estate, two birds are hit with one stone. Firstly the token system is actually quite simple to use even if you can’t understand it right away. Then the platform is self-regulated or rather transactions made in the public arena so all those involved, i.e. peers, regulate it themselves. The other benefit is that fact that even people with small amounts of investment funds can get involved.

As the properties in cloud platforms are segmented, parts of a property can be bought rather than the entire asset. This also means that due to the sheer number of investors, token values can go up and thus your token is now turning over a profit. This is the new way of making money and investing in real estate that everyone is watching right now.