Strategies For Investing In Physical Gold

Buying physical gold has become a popular investment amongst investors these days. People who want to see their investment secure elect to invest in physical gold rather than Exchange Traded Funds (ETFs). The reason for wanting to acquire this precious metal is that it is easy to locate and easy to buy. 

Gold can be bought in the form of coins, ingots and bullion, and it comes in different shapes. In the current economic climate, it is an alternative investment class to stock market investing. 

The price of gold has risen steadily since the Second World War and has continued to grow. When it has fallen, it has only dipped a little bit, and most gold investors get their money back. Or if they want they hold onto their purchase and save it for when the price goes back up again. 

Three facts about buying physical gold 

Firstly, Let us take gold jewellery; there are remarkably few people who don't own a gold item.  If physical gold is dressed up in some delicate jewellery is worn by some important personality, the price will increase extensively. If you want to sell your gold jewellery, you would get a return when the markets are thriving. Every woman always has several items of gold jewellery that they have bought over the years. Jewellery can go out of date, and any gold that you may have can be sold as scrap for a price. 

Secondly, a more secure form of investing in gold is the ultimate gold bar. It is true; you cannot find it easily in some places. However, in many countries, you can order online and have it sent through via the postal service. You need to ensure you buy from trusted sources to ensure authenticity. The biggest gain in owning a gold bar is that it's price will undoubtedly increase according to shifts in the economy. This is also influenced by the rise and demise of gold mines around the globe. 

Thirdly, gold bullion is clearly a safe investment because it props up some of the other investments in the conventional markets. All governments always have some money tied up in gold, as a hedge against any financial mishaps. It will require extensive research to find and buy it but it is possible. However, compared to gold bars, you will have the assurance that it contains one hundred percent pure gold. The bullion is not adulterated by being fused with other metals such as copper. Gold bullion usually has the governmental stamp to convince you of it's purity. Therefore, if you are rethinking your strategy on investment, then gold may be an investment class you wish to consider.  It will help offset any shortcomings if the market crashes again. If you are a small investor, then buying a few gold bars every so often will not be difficult to keep either. You could put them somewhere safe in your home, and not forget where you put them. 

Article Source: https://EzineArticles.com/expert/Taneem_Sira_Sarwar/1495041

Why Should I Invest in the Stock Market? The Truth Revealed!

Why do people invest in stocks? For some, it's like gambling. They high associated to the adrenaline that comes as a result of throwing hundreds or thousands of dollars into high-risk, high-reward endeavors. Of course, many individuals are highly calculated and look at investing in the stock market as a way to fund their future, perhaps in an extremely comfortable fashion. Of course, this is actually very possible to do, but not without the proper psychology, mechanics, and discipline in place. 

So why should we invest in the stock market? 

No matter how you look at it, your stock picks will be a gamble. It is possible for an undisciplined individual to bankrupt themselves very quickly. With that being said, there are several advantages of stock trading and investing that far outweigh the risks involved. 

Firstly, with a long-term focus, there is seldom a regulated market that doesn't rebound. This means that with a bit of due diligence, you can continually invest in an index fund whether the market is weak or strong, and chances are good that you'll come out on top eventually. 

Imaging this scenario. You invest in the stock market in a fairly low risk way, meaning you pick an  index fund (you can even invest in the NASDAQ itself) and invest $300 per month into your fund. What happens when the market goes up? Your stocks are worth more! But what happens when the market goes down? While the pessimist may panic, the wise man or woman will simply view this as an opportunity to purchase even MORE shares for that same 300 bucks! 

Then, when the market goes back up, you've got LOADS of shares enjoying this increase in value. Does this make sense? I know it's pretty basic stuff, but the basics are where a LOT of people unfortunately make their mistakes. 

Another reason I invest in the stock market, and why I firmly believe you should, too, is that you can get out of a bad decision in a heartbeat. Just sell your shares. Done. Do you think you have that kind of freedom to just walk away in the real estate business? Not a chance!

 The point is - and hear me loud and clear, I LOVE real estate - the stock market is a far more streamlined investment. For all intents and purposes, it's digital vs. physical. Both are valid in terms of return on investment, but only the stock market allows you to be incredibly efficient with your investment maneuvers. 

Consider starting small, if you're a beginning investor. And above all else, educate yourself. Read books, attend courses, join and converse with Femvestorsglobal... it's YOUR capital, so you'd better know your stuff! Do NOT blindly trust the "experts," as they're just people... and they can be just as wrong as anybody else!

Remember, education is everything!

Financial Advice For Single Women

Financial advice geared toward single women is more important than ever before. 

Roughly one-quarter of all households are currently headed by a single woman, with family sizes ranging from no kids to with kids. It might seem financially unfeasible for one woman to raise children on her own. Further complicating the situation is the fact that the majority of female-led households have a smaller income and smaller savings than households of similar size led by men or couples. 

Although no one likes to think that there is such a clear difference between income levels based on sex, most single women do have a more difficult time making ends meet; they make roughly half of the national average for other households of their size. Whether they are experiencing discrimination in the workplace, struggling to raise a family, or dealing with the aftereffects of divorce, it can be difficult to gain a solid financial foothold in today's economy and society.

Fortunately, there are organisations such as Femvestorsglobal who specialise in assisting women who support themselves financially. In addition to taking a unique approach that makes it easier to save without substantially cutting back living expenses, they can provide more realistic solutions for the long-term, as well - ones that take into account the struggles of getting by on one salary when faced with rising healthcare and childcare costs.

What Can Single Women Do to Save? 

The most important thing single women can do for themselves financially is to simply do something. It may not seem like much, but even sitting down and creating a list of goals for the future can be a vital first step. 

Step One: Figure out your current financial situation. 

How much money do you have coming in every month? How much money is going out? Where are there potential areas to start saving - even if it's as little as a few dollars per month at first? 

Step Two: Find a way to save. 

In order to get started on most savings and investment plans, you can have a small amount in hand. We  will be able to help you discover where to cut back to make those savings so that you can start investing earlier. 

Step Three: Invest. 

Single women without kids tend to be bigger risk takers than single women with families - at least when it comes to investing. That's because they don't necessarily have the day-to-day pressures of taking care of children. But the good news is that there is no one answer for single female investors. Whether you want to take advantage of a high-risk investment or you'd rather rely on low-risk bonds, there are financial solutions that will help you get the results you need - many of which you may not have considered before. In fact, some single women are surprised find that purchasing a home or making another large "dream" purchase can not only create a better standard of living, but can also be a sound financial investment. 

Finding the Right Financial Advisor 

Choosing an advisor to help you make smart decisions for the future is much like choosing someone to date; not only do you need a relationship you're comfortable with, but you need to feel confident that your advisor is doing everything he or she can to create the best possible outcome for your entire family. 

Ladies- this is where Femvestorsglobal can support you.

Article Source: https://EzineArticles.com/expert/Wesley_Watkis/362080

Advice by Women For Women On How to Save - Retirement Planning

Here are some tips about retirement investing for women: 

First, we must understand that Investing is emotional. It is tied to our mindset and sometimes we don't plan far enough ahead for very personal reasons that can often be self-defeating. If you can relate, seek out advice from other women who have made the retirement decision to plan ahead.

Tie your savings and retirement goals to your personal goals. Examine what you believe your health may (or may not) be and whether or not the swimming or golfing or running a marathon goals are realistic and achievable in your retirement.

The 40-60 age group is deciding if they want to change careers, change their life goals, or stay in what they are doing right now. They are at that midway place in their lives where they are planning for their long-term goals. 

Women need 20% more than men to retire because we are living approx. five years longer than men 

Women tend to invest more conservatively than men because we fear losing our money.

• Instead of fearing losing our money, we REALLY NEED TO focus on whether we will run out of money
• If you are too conservative with your investing then your savings won't keep up with inflation
•  Your living costs for retirement will depend on your lifestyle, check out the 4% rule as a starting point
• A diversified portfolio is the best and sticking with that is important! 
• Can you afford to count on living on your retirement pot?
• Be actively involved in setting aside money. We recommend at least 10% of your monthly income to be allocated to your investing journey.

In terms of contributing to your retirement pot:

• Make use of your employer matching program if available to you (Country and Employer specific)
• Check the tax rules for self employment for your home country
• Many countries offer tax relief if you personally contribute, look out for SIPP, ISA, IRA's or applicable for your specific geographic location
• Countries such as Australia have a government agreement with employers. You employer is required to allocate a certain percentage of your income to a unique fund which you can access at aged 55

If you have a windfall of money you may or may not be subject to tax on it, so be smart with your goals and what your plans are for that money so that it lasts for you. Seek advice to ascertain your most appropriate option

• Be smart about what you get because most people go through a windfall in two years 
• Control your destiny with your good choices

Don't try to time the markets and wait it out. Buy index funds today and allocate funds monthly to take advantage of compounding and $ cost averaging

We tend to work from three cash strategies: 

1. Long-term: If you have long-term goals, have your money working long-term. 

2 & 3. Short-Term and Cash Flow: Plan your strategy and work your goals and plans around your lifestyle and what you need and want to happen. Plan for that money. 

And when it comes to retirement planning by watching the news.....

TV media hype is slanted, biased and mostly (just plain) ignorant. 

When you plan for your retirement take these tips into consideration. That way the twenty years you hadn't planned for, won't have you looking for a job at your local grocery store. 

You cannot also overlook the opportunity to start your own business. It is an true way to gain tax advantages, increase your savings and plan for your retirement. 

Dervived from Article Source: https://EzineArticles.com/expert/Mischelle_Watkins/343114

Women Facing Poverty in Retirement

Women often reach retirement age with fewer pension benefits and retirement assets than men. All workers need to save more for retirement, but women face added challenges because we have lower earnings, experience higher job turnover, and have a longer life expectancy. Women generally begin retirement with smaller pensions than our male counterparts but usually live longer than men. Our retirement pot is intended to be a supplemental source of income in retirement, but too many women are forced to rely on it as our sole source support in retirement. As a result of these issues, elderly women in the many western nations have high poverty rates. 

Women Save Less than Men for Retirement 

Among the reasons that women save less than men is that women earn less than men; lower earnings equal lower retirement savings. The Equal Pay Act was passed between Mid 60's and early 70's in the majority of western nations and yet half a century later, women make only 81 cents for every dollar earned by men. According to the National Women's Law Center, "This persistent pay gap translates to more than $10,000 in lost wages per year for the average female worker."

Equal pay is not just a women's issue; it is a family issue. Women make up half of many countries' workforce and mothers are the primary breadwinners or co-breadwinners in nearly two-thirds of families. Wage discrimination harms many families by limiting their economic security now and their retirement security in the future. 

Women Have Different Work Patterns 

Women generally spend less time in the workforce due to family care-giving responsibilities, from raising children (and grandchildren) to caring for elderly parents. Also, women are more likely to work in part-time jobs that don't qualify for a retirement plan. Such job interruptions mean less opportunity to save for retirement and to contribute to a retirement fund. 

Married Women Often Rely on Spouse's Savings 

It is not unusual for many married women to rely on their spouse's retirement savings. Under traditional pension plans, benefits to married workers were paid as a lifetime annuity with benefits for the spouse. You will need to understand the details within your spouse's retirement plan to find out if you qualify to claim any entitlements on that plan should your spouse pass away and you receive the benefit automatically, 

You will also need to ensure you discuss the retirement fund should divorce proceedings arise, please don't just accept the house as a settlement without discussing all options prior to an agreement being reached.

Women Invest More Conservatively Than Men 

Studies indicate that women invest more conservatively than men. Women tend to emphasise safety over return. They often save less for retirement and then sacrifice long term growth with a low risk investment strategy. The interest rates on a bank account will not suffice given current inflation rates.

Women Need More Money for Retirement 

Women have longer life expectancies than men. Life expectancy for women now is approximately five years more than that for men. Consequently, women spend longer in retirement. For married women, 70% of them will outlive their husbands. Unmarried women (including widows) age 65 and older rely on a retirement fund for 50 percent of their total income. Because women tend to live longer than men, they are in greater danger of outliving their other sources of retirement income. 

Startling Statistics 

The latest Census Bureau data show a significant and alarming increase in poverty and extreme poverty among women, men and children. The shocking statistics is that 1 in 5 working women retire with $0.

Changes Needed to Close the Retirement Savings Gender Gap 

• Continue to work to eradicate the wage disparities between men and women 

• Increase retirement coverage for lower-wage, part-time and temporary workers

• Provide additional retirement support for women whose primary role is care-giving

• Require policy changes for countries which do not support an easy transfer of retirement funds for partners of spouses

• Allow tax-free transfers of retirement assets between spouses

• Provide investment education specific to the overly cautious investment strategy chosen by many women. 

Ultimately, the basic saving strategies are the same for men and women: start saving early, contribute as much as you can to your company retirement plan and don't take money out of your retirement plan to meet short-term needs. 

However, it is especially important for women to stay focused on saving for retirement as pay inequity and the work patterns of many women reduce our future retirement income. 

Article Source: https://EzineArticles.com/expert/Stacey_L_Spencer/784370

Women Can Love Investing (Yes Really!)

Ladies- We can learn to love investing. Investing is a passion of mine. I find it empowering, freeing, and confidence building! You can learn to have your money work for you and make you money, so you're not dependent on working the rest of your life. It's awesome to see money being made with your computer and not from your labour! Once you learn to invest, it's like having your own golden goose. The golden goose provides more money for you over the years and works hard, so you don't have to. 

Did you know women are better investors than men? There have been studies of men's and women's investment clubs and women consistently made more money with their investing. The reasoning is that women think through their investment decisions longer before selecting them and hold their investments longer. 

Another reason women make good investors is because investing is like shopping. We're used to comparing prices, knowing brands, and watching for sales! Investing is the same way. You figure out what you want and you wait for a good price to buy it. Heck, you do that every week!

99% of women will have to manage their own money at some point in their lives (the average age of widowhood is 59). Do you want to learn about money when you're grieving and least able to deal with it or when you choose to? 

Making money is simply a function of 3 things: the money you have to start with, the time you have to compound, and the rate you earn. The more of any of those 3 things you have, the easier it is. If you don't have a lot of money to start with, but you have a lot of years before you need the money, or you can compound (earn) a high rate, you can build wealth. 

If you want to learn how to swim, you can't cling to the side of the pool. Eventually you have to let go and try to swim. When you get good at swimming, you can eventually go into the deep end. You don't try that on the first day! It's the same thing with investing. If you want to build wealth, you can't keep your money in a savings account. You must give yourself time to learn to invest and let your money create a golden goose for you! 

The reason it's important to take some measured risk with your money, is because it allows you to get a higher return. For example, if a savings account was paying 1% interest. At 1%, it will take 72 years to double your money. Not a great way to accumulate money to retire! But the stock market has returned 10% on average over the long-term, which will double your money in a little over 7 years! That will build wealth - the savings account won't - and you will be able to have a comfortable retirement. That's why you need to invest in stocks! 

I often hear women say they don't feel "worthy" of having a lot of money. I think a lot of this stems from the fact as women, we don't know our self- worth. Studies have shown that men know what they are worth in their job and women don't. At first, it was surprising for me to hear this, but then it made sense. Women are taught to be of service, to put our needs behind others, to be polite, to defer to others. If we translate that behavior to money, it means we don't feel worthy. We give the power away. We will have fears around it and "trust" others to handle it for us. We don't need to do that. Not anymore. 

I'm here to say women, you can do it! You can overcome your fear of loss or overwhelm. Investments don't require much time to manage once you've got the hang of it. I spend less than an hour a week handling my personal investments. However, most of my time is spent reading about investments and looking for new opportunities than tweaking the investments themselves. 

I started in my late twenties with $0, I read lot of books and attended several training courses about millionaires and investing. I also looked at where Billionaires invested, listened to podcasts and taught myself how to invest in stocks and became a millionaire at age 38. It begins with having a wealthy mindset and ends with creating your legacy. Only one step involves investing! Did you know that you don't even have to have a lot of money to start investing? You can open an investment account online for free. There's no excuse not to learn! 

If you have a mentor, it can help take the fear of overwhelm away. A mentor can show you how to navigate easily, just like a tour guide can in a foreign country. Over time, you will gain confidence and realise it's not as difficult as you first thought. Like anything with practice, it gets easier - and the rewards are much better! You can learn to build serious wealth which will make your life a lot easier, less stressful, and give you a better marriage and family life. 

What is a stock? A "stock" is simply a share of ownership in a company (think of companies like your favorite brands in handbags, shoes, food, etc.). Companies sell shares of stock in their company when they want to raise money. Suppose designer Stella Mcartney wanted to open boutiques around the world? She could sell shares in her company and raise the money to do that. 

The "stock market" is simply where lots of companies are selling shares. Initially they sell shares from their company to raise the money and from there investors buy and sell them to and from each other. It's kind of like eBay, except you're buying and selling shares of companies!

But isn't it risky? Isn't it like gambling? There is risk, but you can mitigate risk several ways - buy spreading it out among multiple companies you own, by buying companies that have a low fluctuation of price, by not owning just stocks and adding in other types of investments. Some people speculate, but most people are not trying to "get rich quick", they are investing for the long-term, which is the safest way to invest. The longer you stay invested, the more likely it is you will make money with your investments. If you stayed invested during the crash of 2008, the stock market is up 80% from the low point. 

The Dalai Lama has said, "The Western woman will save the world." I believe that's true. Women are cooperative, intuitive, and we like to share with others. I see a lot of women giving to the less fortunate, like helping women start businesses with "micro" loans. The average loan someone in a foreign country needs to start a life-changing business to feed their family is only $27! The women in villages teach others in the village how to run a business, so the effects are far reaching and magnified. 

Isn't it time you empowered yourself to learn about money and investing? Isn't it time you felt your own worth and independence? Learning to create wealth yourself will do that for you and investing is a way you can build a lot of wealth. You just have to decide to do it and find a mentor to reduce the learning time and improve your success rate. Soon you will have your own golden goose and love investing too! 

Article Source: https://EzineArticles.com/expert/Linda_P._Jones/303130 

Ladies- Top 7 Things to Consider Before You Start Investing

There is a lot of due diligence and groundwork that goes into understanding the financial markets before you start investing.  There are a few things you as an investor must consider before approaching any "Fiduciary" Asset Management Company or getting started on your own investment journey. 

Here are the top 7 things you should consider before you start investing to make more money: 

1. Pay Off Prior Debts

No investment can start without you actually paying off your debts and clearing your credit. A clean slate for all your debts is very essential to begin investing stress free, with a clear mindset and focusing on returns.

2. Create your Cash Emergency Fund Before you start investing 

It is very important for you to have a separate account prepared just in case of emergencies. There is no questioning the volatility of the market and you can't really depend on exiting from the market in profit when in dire need. Having an emergency fund lets you start your investment journey with a bit more ease. 

3. Create Financial Goals 

One of the most important questions often asked is how to invest money and earn quick profits! However, there is much more to investing than just expecting big returns. It is equally important to have your financial goals set it place and invest accordingly. Be it buying your home, education fund for your children or saving for retirement

4. Understand Financial Tools

There are so many options in the market which offer numerous benefits. The bigger question often is what you as an investor wish to achieve, quick profit, long term stability, lesser risk or just saving for the future? It's not tough to make more money with your investments as long as your priorities are already quite clear. 

5. Due Diligence on Investment Options 

Asset Management Companies have a variety of financial products that an investor can pick from and ensure that they make more money. If you want to know how to invest money wisely on the other hand then it is best if you do your due diligence on all the financial products in the market and then make an informed decision to earn profits. 

6. Research on market trends 

How to invest money wisely is indeed a question every investor should be asking themselves or the investment making company who is helping them build a portfolio. Keeping updated about the market, staying on top of news in the world markets and knowing the current business trends makes it easier for investors to pick their most optimal investment. 

7. Evaluate your risk tolerance

Every woman has their own risk bearing capacities. An investment making company will often ask you the risk level your profile fits in as an investor as it helps them decide where and how to invest money and earn quick profits. How to invest money is often a question answered at the expense of how much risk are you willing to take for the same, 

As simple and lucrative investing and making profit sounds, the truth is that unless you have a foundation in place and thorough research to build up, your investment portfolio won't be solid. Asset Management Companies are there to help investors with their portfolio, right from researching and investing to managing and reinvesting investors' wealth.

If you are new to the world of investing then these pointers will make sure that it doesn't seem intimidating anymore! 

Article Source: https://EzineArticles.com/expert/Linda_Terrill/2561984

Why Us Women Fall Off the Financial Cliff

Why do so many women leave their financial future to chance? Why do women face so many challenges with their finances? If you could learn how to overcome your financial concerns, would you take action? After speaking to several women, which is the reason for writing my book which will be published later this year "Femvestors". Women don't get involved with their financial security. We leave it up to a myriad of other possibilities. 

Us women already face additional challenges that are unique. First, we have a longer life expectancy. According to "Statista 2021 Report" for developed countries, the average life expectancy for a man is age 79 and for a woman it is age 82. That's a 3 year difference, which means retirement savings must last longer. With longer life expectancy comes the possibility of health issues and the need for long term care planning. 

According to the World Economic Forum Global Gender Gap Report 2020, worldwide, women on average earn around 20% less than our male counterparts for equally valuable work. Major variations exist across countries and regions- the gender wage gap ranges from 3% in Luxembourg to a staggering 37% in South Korea  – no country in the world has yet achieved income parity, however, Iceland is on track to become one of the first countries to achieve this. The impact is that we are contributing less to our pensions, superannuation, 401ks and social security, resulting in less retirement savings to draw income from in retirement. We also have less discretionary funds to invest and save to sustain our lifestyles now and in the future. 

Women also fall into the role of primary care giver taking more time off from our careers to fulfill care giving roles to either our children, elderly parents or a sick spouse. Less time earning income further reduces their ability to save. 

Women tend to rely on our partner to manage investments, balance budgets, and create financial plans. With the divorce rate at 50% (and climbing post Covid), us women could find ourselves single and not knowing where our money is or how much it is worth. Even worse, not knowing if our partner carefully managed the family assets or possibly squandered them away. For the widowed woman it may mean trying to manage our finances with little knowledge at a much older age after a lifetime of being out of the financial picture. Many women don't plan for the possibility that we may lose our partner's pension and other benefits. Either of these cases could come with detrimental effects.

Lack of financial knowledge ranks high on the list of challenges facing us. Traditionally, we are not encouraged to educate ourselves on financial issues. More than 70% of men say they have a good understanding of stock market basics, but less than 45% of women feel that way. This puts us at a disadvantage to our male counterparts. This lack of knowledge leads us to be more conservative, under utilising stocks, bonds and other invests. As a result our long term returns and ability to hedge inflation are affected. Research released by HSBC showed that many women are not prepared for retirement, with just 24% of women in their 50's claiming to have a financial plan in place. 

After learning about the challenges us women face with our finances, do you want to leave your financial future to chance? What are you ready to do to overcome these financial concerns? Please consider taking charge of your future by working on a financial plan. Don't let a longer life expectancy, lower earnings, and lack of financial knowledge take you off course. Make a plan to take charge today!

 

Article Source: https://EzineArticles.com/expert/Bill_Leavitt/1496352

Take Action If You Want Your Personal Finances to Improve

We all have our dreams. Everybody wants to succeed, at least in our minds but not everybody will. Below is a list of 25 actions you should take if you want to improve your personal finance situation. 

1. Review your financial position: 

Take a pen and paper, sit down and review your financial activities; from your income earnings to spending. Break everything down into small segments. It could be that your total expenditure outweighs your income. Simple Guide: Create a credit and debit list. Every part of your income, no matter how little, should come to the credit side while expenditures (outgoings) come to the debit. Sum each side up. If your debit is over 30% of your credit, do you still wonder why that financial dream of yours was out of reach? 

2. Create a financial checklist: 

The best way to create this checklist is to break each financial matter down into months (includes insurances, mortgage, rent etc) Many people have this false belief that they have everything sorted out in their heads. The more reason they fail because human beings are susceptible to memory loss. Sort them out in black and white instead, and a new level of motivation will come on you each time you look at the checklist. Alternatively, tools such as PocketGuard and Spendee can help you do this. 

3. Set specific financial goals: 

After creating the checklist, the next step is to set your financial goals complete with specific dates. That is only when your wishes become goals since the dates act as deadlines thereby putting you on delightful pressure to beat them. Any goal without a specific date of achievement is not a goal. You are merely wishing. Sadly, this is what many people do. By specific, for example- I will make $60k by 24 November 2021.Then it becomes a goal that you can wake up every morning and chase around. 

4. Have a savings plan (budget): 

The failing of many people is that they are never faithful with the plan. This shows indiscipline. Learn to set and work within your plan. That way, you can meet most of your financial obligations. Otherwise, will only put you in bad debt and make you miserable. If you cannot plan in black and white, there are wonderful digital tools and apps such as YNAB and Mint. One thing you must never do is to simply budget in your head. 

5. Spend what is left after you have saved: 

Learn to live by this rule today. For every dime you earn, save at least 10% of it. Now, this is the difficult part: many people aren't disciplined enough to do this. More so for Entrepreneurs as the key to achieving this is to separate your business income from your personal finance

 6. Leverage on good debts and avoid bad debts: 

Everybody should like debt. This is a principle of the wealthiest people in the world. Good debt brings you more cash flow and if well managed, sets you towards financial freedom. Bad debt on the other hand, brings you unneeded luxuries, put serious pressure on you and can make you miserable. Good debts are incurred towards fulfilling rewarding financial obligations like the purchase of businesses, investment and stocks or real estate; these are things that will compound your financial interests over time and make you independent. Bad debts are taken out to buy non-essential luxuries such as cars, holiday trips and expensive dinners. These luxuries don't compound wealth. Rather, they take what you already have. Decide which one you want. 

7. Pay off your smaller debts first: 

By now, you must be saying 'but I am in debt already. My debtors are breathing down my neck'. All well and good. Make it a point of focus to liquidate your bad debts. Start by making a list of your bad debts in order of their sizes. Then settle the smaller debts first. Any debt that is fully settled should be cancelled out before moving to the next. The logic behind this is simple. The smaller the debt, the easier it is to pay off. With each debt cancelled out, the more confident you will become of liquidating the bigger ones. This confidence brings with it desire not to keep going through the show of cancelling out debts every year. In other words, you'll become a better manager of your finances. 

8. Live your means: 

This must be a strange one. I have heard many people advocating that people should live below their means in order to have reasonable savings. Well, I actually believe people should live their means. If you can afford to conveniently buy out a business, why not? The key to living your means is convenience. In measuring your convenience level at taking on situations, you must be truthful to yourself about your financial situation. You might be on $10k per month salary and feel you can live in a two bedroom apartment in the city. You should calculated the other supervening expenses like monthly food, clothing, bills and transportation to know how much you are left with to contribute towards the means you want to live. 

9. Avoid having entitlement mentality: 

Nobody owes you anything in life. So quit that lazy mindset. You are solely responsible for the decisions you make; for your successes and failures. Once this is firmly ingrained in your mind, the zeal not to fail will become a greater motivation that pushes you towards making smart financial choices. You will learn the act of taking responsibility. The most successful entrepreneurs don't sit down and wait for goodwill from some family members or friends. They struggle their ways through web of failure until the elusive success is captured. Then they work harder to keep the success. You should also have that mindset. 

10. Avoid the lottery: 

This might not go down well with some lottery lovers but if you don't have firm control of your personal finance, then stay off the lottery. You spend money time and time again in the hope of becoming lucky and hitting the jackpot. But what if you don't? Let us even assume you win. Have you taken stock of how much you have contributed to the lottery over the months and years and if what you won is it up to your contribution? A few will be lucky to hit it big. However, a vast majority of people won't. 

11. Operate 3 designated bank accounts: 

I am advocating this because most times we tend to draw from a single bank account to solve our personal financial challenges. The danger in this is that such practice is an enemy of financial planning and often runs people dry. If you are serious about securing your financial future, then have 3 bank accounts where you save at different times. The first should be for savings and this could be your salary account. The second is for emergency while the third is for philanthropy. Since you're working on a budget, you know which account to go to on each occasion and discipline will stop you from touching the other accounts when you have no need to. Finance experts like Robert Kiyosaki advocate this strategy. I recommend it also. 

12. Track your net worth always: 

Do you really know how much you are worth? The problem is many people have a false sense of security. They believe selves to be worth more than they actually are. People who take control of their personal finances make it a habit to track their net worth always. Quit blushing over your assets. Try removing your liabilities from those assets to get an idea of how much you are really worth. Whatever remains after you have subtracted your liabilities from your assets is what you are truly worth. 

13. Diversify your investment holdings: 

Diversifying will help you to minimise your investment risks. Smart working entails you have your risks spread in different sectors. If your investments in a sector fail, your investments in other areas will help to mitigate the effect of your loss. There are many reasons why you should diversify: loss of business, inflation, taxation, government policies and political instability are a few of the reasons why you should never remain in a single sector as an investor

14. Create passive income: 

This is a key to financial freedom. To build passive wealth, you must be involved in activities or buying assets that generate you more income. To boost your personal finance this year, start engaging in activities that will generate you income even when you are not seriously working. Leverage on technology and get involved in online businesses, invest in viable businesses and watch your income compound

15. Learn the rules of investing: 

That you want to diversify and create passive income does not mean you should not follow the rules of investing. The first rule of investing is that you should never invest in what you don't understand. Get adequate knowledge before plunging your hard-earned money. The second rule is that you should never invest money you cannot afford to lose. Investment can be a risky venture, so have liquid cash you can fall back to if the investment fails. There are other rules you should learn such as the principle of compound interest, legal framework of what you are investing in, and so on. 

16. Engage in your passion and have fun: 

Some people are miserable because they are not doing what they love. Some are stuck in jobs they hate just for the salary. To do great things in life, you must be passionate and enthusiastic about what you do. I love providing business and financial solutions to people who need them. It gives me joy. Learn to be passionate about what you do. That is when you can have fun and enjoy life to the fullest. Not loving what you do can drive you to make poor financial choices. If you hate what you are presently doing, here is a tip: give yourself sufficient time to properly invest in what you are passionate about. Then move on. 

17. Exercise to keep both your body and mind in shape: 

Engaging in physical exercise keeps your mind at alert and your body in great shape to take on any physical activities. 

18. Take your health seriously: 

All your goals in life will go as far as your health permits. Your health is your number one wealth; therefore you shouldn't be careless with your health. 

19. Be flexible and always adjust: 

We all want to appear to be in charge, that we have planned ahead and are ready to take hold of our financial situations. However changes will occur along the way, some of them beyond our control. The people who take biggest control of their personal finances are people who adjust to favorable evolving trends. They are spontaneous in their approach towards life. The danger of being rigid is that you are not open to new ideas and opportunities. You are stuck with your viewpoint, with your personal understanding of doing things which may be what is limiting you. Surround yourself with intelligent people who support you as well as who can challenge your thinking.

20. Work smart: 

Have you noticed that while you are stuck in your 9-5 job for a few thousands every month, another person works few hours and earns far higher than you? The rule of the 21st century is working smart. While I loathe laziness and cannot encourage it, yet your hard work should be embedded in working smart. Think of disruptive ways you can engage the public that will generate you more income. Do you have large following on social media? You should leverage on that and promote your passion. Create reasonable awareness. The more awareness you create, the more people that need your services will seek you out. You don't have to wait for the big bucks to come to you so you can rent the best office space. Take advantage of technology and start with what you have. Today, you just need a mobile and a social media account.

21. Leverage on technology and automate savings:

This is the age of technology and everything is going digital. You cannot afford to keep living an analogue lifestyle. Get accustomed with the various available technologies that can help boost your personal finance this year. You can automate your savings and spending so that you don't exceed your savings plan

22. Get involved in Philanthropy: 

I believe that giving is an effective way of receiving. There is fulfillment that comes with helping people around you to be better than they were. It is about doing the little things to improve the circumstances of those around you. You can engage in serving your community. If you have enjoyed some excellent services from a startup, you can help that business survive by a little words of mouth marketing. Doing such little things go a long way to impact on your personal finance as you will be seen as a trustworthy person whose recommendation is genuine, and this is amazing for you mentally and your business if you have one 

23. Have a retirement plan in place: 

Some people think retirement is working for decades and retiring to a life of pension. Retirement is planning for a life of less stress at work, not that you stop work altogether (unless you want to). Even if you own a company, you should give way at some point for younger, more dynamic leadership while you take on the overseer's role. So what are your retirement plans? Do you have insurance in place? How about retirement savings account? Have you buried your finances in different investment portfolios that will generate you income in years to come? Do you have any shares or stock holding, and more especially, do you have any real estate investment? Have you taken time to study about some government policies in your country and even study some government introduced financial incentives to know if it's a risk worth taking? I have seen some people go broke after retirement because of lack of adequate planning.

24. Have a mentor: 

I believe so much in the power of imagery. You can only conceive an idea after you have built images in your mind. That is what mentorship does to you. Whatever financial race you are in today has been won in the past by another. So make a mentor out of that person. Use their struggles and triumphs as a guide so that you can arrive faster at your destination than they did. There is no point making some mistakes if they can be avoided.

 25. Start today, it's never too late: 

Finally, it is never too late to start planning towards your financial independence. You can start putting in the hard work now and realise the benefits later. The danger is in not starting at all. 

Article Source: https://EzineArticles.com/expert/Isioma_Isichei/2515969

7 Reasons Stock Exchanges Have Performed, So Well, Recently!

 In the past, few years, we have witnessed, a performance, by Stock Exchanges, which, exceeded, many of those, in previous periods! Although, former President Donald J. Trump, wanted to take credit for this phenomenon, in reality, it was probably, due to, a variety of factors, to a significant degree! In reality, there are, at least, 7 reasons, for this performance. With, that in mind, this article will attempt to, briefly, consider, examine, review, and discuss, 7 possible, reasons/ causes, for this, and what, it may mean, and represent. 

1. 2017 Tax Reform Legislation: 

Although, politically, promoted, as great news, and helpful, to the middle - class, the greatest beneficiaries, of the 2017 tax legislation, has been, the largest corporations, and wealthiest Americans! In fact, many believe, it was, actually, Welfare, for the Wealthiest! 

One impact was, corporations, made far- more money, not predominantly, because, they expanded, their sales results, but, rather, lowered their costs/ expenses, by paying less taxes. Supporters of this, claim, when large corporations, make more, it helps others, but, the promised, employment boosts, didn't seem to occur, in any significant way! Since, corporations made greater profits, their stocks, appeared, more appealing, and thus, many investors, sought to get involved! In addition, the richest, potential, investors, ended - up, with a lot more, disposable - income! 

2. Artificially - low, interest rates: 

These past, few years, interest rates, have been, at, or near, historically, low rates! While, it made loans, more affordable, it also, made the cost, of Margin, cheaper, also! In addition, it translated - to, investors, having fewer options, because, the return, on fixed - income, investments, such as Bonds, and bank interest, lost popularity, because of the low return! 

3. Cheap Money: 

Low rates meant Cheap Money, and many took advantage, by investing. Corporations also, discovered, they could borrow, at low rates, and, make themselves, appear, far more attractive, to potential investors! 

4. Manipulation/ Day Trading: 

Larger investors appeared to try to take advantage, by using steps, manipulating, prices - upward, to their advantage! Because of the ease, created, because of the Internet, we have also witnessed, far - more, Day Trading, which, also, tends, to raise the overall, Stock Markets! 

5. The Internet: 

The expansion of Discount Brokerage Houses, and reduced minimums, commissions, etc, combined, with, the ease, of investing, created by the enhancements, from the Internet, has benefit stocks, etc! 

6. Wishful thinking: 

How much of the increase, is based, on fundamentals, and quality, and, how much, on wishful thinking, hopeful reasoning, speculation, and so - called, tips? 

7. Strong fundamentals/ optimism: 

Some of the optimism is warranted, especially, when it comes to certain stocks, with quality fundamentals! 

There are many reasons, the price of stocks, have risen! Some are deserved, some are speculative. A wise investor proceeds, with, thorough consideration, and awareness! Know, before you invest! Weigh your approaches, based on your personal comfort levels, and, on a, risk/ reward basis!

Images:Courtesy of Fool.com

Article Source: https://EzineArticles.com/expert/Richard_Brody/492539