Money Guide (Page 34)
Time To Be Open With Our Children About Saving
Recent research from the Bank of Cyprus has revealed that around half of all UK parents looking to open a Junior ISA for their child are also planning to keep that account secret, or withhold information about it. It’s understandable that some parents are worried about what will happen to the money that they painstakingly invested for their children over the course of 18 years. The worry stems... ❯❯❯
Strategies for Saving Money in a Divorce
Divorce is currently on the rise nationwide. Sometimes couples simply have to end their relationship for various reasons. In addition, an expensive divorce can have a profound impact on a person’s financial status. Both partners can save money as the financial, legal, and emotional issues of divorce approach. An average American divorce costs range from $14,000 to $30,000. Here are some strategies... ❯❯❯
The Concealed Costs of Owning a Home
The interest in homeownership is again on the rise, thanks to declining home prices and mortgage rates in many markets. Renters are getting tired of seeing their expenses rise every year, and owning a home is one of the easiest paths to financial solidity. Every mortgage payment you make will build equity, and when home values rise, your assets will grow. Before applying for a mortgage, you... ❯❯❯
Why You Should Invest
Investing has become increasingly important over the years, as the future of social security benefits becomes unknown. People want to insure their futures, and they know that if they are depending on Social Security benefits, and in some cases retirement plans, that they may be in for a rude awakening when they no longer have the ability to earn a steady income. Investing is the answer to the... ❯❯❯
How Much Money Should You Invest?
Many first time investors think that they should invest all of their savings. This isn’t necessarily true. To determine how much money you should invest, you must first determine how much you actually can afford to invest, and what your financial goals are. First, let’s take a look at how much money you can currently afford to invest. Do you have savings that you can use? If so, great! However,... ❯❯❯
Different Types of Investments
Overall, there are three different kinds of investments. These include stocks, bonds, and cash. Sounds simple, right? Well, unfortunately, it gets very complicated from there. You see, each type of investment has numerous types of investments that fall under it. There is quite a bit to learn about each different investment type. The stock market can be a big scary place for those who know little... ❯❯❯
The Importance of Diversification
“Don’t put all of your eggs in one basket!” You’ve probably heard that over and over again throughout your life…and when it comes to investing, it is very true. Diversification is the key to successful investing. All successful investors build portfolios that are widely diversified, and you should too! Diversifying your investments might include purchasing various stocks in many different... ❯❯❯
Determine Your Risk Tolerance
Each individual has a risk tolerance that should not be ignored. Any good stock broker or financial planner knows this, and they should make the effort to help you determine what your risk tolerance is. Then, they should work with you to find investments that do not exceed your risk tolerance. Determining one’s risk tolerance involves several different things. First, you need to know how much... ❯❯❯
The Cost Of Credit Cards
Although some choose to rush into getting a credit card, they normally do so without being aware of the costs. A lot of credit cards out there come with hidden costs and charges, and you should always be aware of this before you apply. In most cases, these fees and charges won’t get noticed by the user until it is too late. Credit card holders who aren’t aware of any hidden costs could easily... ❯❯❯
How To Avoid Late Fees
Although it may be overstated, there is a lot of truth to people ruining their credit score due to missing payments and paying their credit card bills late. The fees can pile up and the interest rates can grow before you know it, and after a while you won’t even be able to pay the minimum amount of payment. If you don’t do something fast - it could be the beginning of the end. To make sure... ❯❯❯
