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Paying Bills with Short Term Money Options

People who live in the Rocky Mountain area can testify to the rising cost of living in these states. As the prices for housing, groceries, utilities, and more go up, more families in these states find it challenging to stretch their paychecks to cover all of their bills. When unexpected bills arise in between pay periods, it can be easy for people to panic and fear being unable to meet these obligations. Rather than have their bills turned over to a collection agency or have their utilities shut off, they can use financial remedies like a Nevada payday loan to get money fast and meet these obligations.

When they want to know more about this financial option, people might wonder where they can get all of the facts they need. They can learn about these options by going online and reading all of the information on the website at their leisure. The website contains a host of details that will give people all of the facts they need to understand and apply for one of these loans. They can discover the interest rate, payment methods, approval amounts, and more before they complete an application.

Completing the application also can be done entirely online at clients’ convenience. People can avoid rushing home to fill out an application for fear of missing the deadline or the website shutting down for the day. The site is available around the clock, which lets people who work odd hours get access to this financial option anytime they want. They can wait until they get off work or after they put the kids to bed to sit down and fill out the application at leisure.

When they submit their application, people may think that they have to wait days or weeks to find out if they have been approved. However, they can generally find out within hours if they can get the money they need to pay bills. If they are approved, people have the option of getting the money deposited into their bank accounts or onto a prepaid card. These direct deposit options let the transaction occur safely and in a timely manner. People can get access to their cash quickly rather than having to find a place that will cash a paper check. They can pay their bills, eliminate the worry that comes from being indebted or without important purchases, and move on with their lives.

Five fundamental tips for long term investors

If are the kind of person who wants to take an active part in your investing and not let some other person do it for you, then you have to be prepared to do a few basic things to make it more likely that you are happy with your investment choices and with their performance.

Investing is a very personal choice because it is not without financial risk, but as any honest financial expert will tell you, with investing, you’ll likely gain more than you’ll lose if you make the effort to learn about your investments and make sound decisions. But at the same time, there are no guarantees, and you need to be prepared for losses and gains. You also need to be patient. Don’t expect to see a return on investments for several months, and it could take a year or more for you to see a significant return from any investments. The following five investing tips should help you get started in the world of investing, but if you have questions or specific concerns or just want some reassurance, you should definitely get in touch with a local financial advisor or an investment firm.

  1. Be prepared to spend money for stocks and other paper assets: Stocks, mutual funds, and other paper investments is one financial area where you really will have to spend money in order to make money. But it’s easy to see why this is the case: you need money to purchase these kinds of assets. Once purchased, so long as they perform well enough, your stocks will earn your money. And on that note, be prepared for even the best performing of stocks to lose on occasion. It happens to even the most conservative and frugal of investors, so don’t beat yourself up too badly if you end up investing in a stock (or even a couple of stocks) that winds up under-performing.
  2. Be patient
    Rome wasn’t built in a day, and neither is a company. Even already-running companies will need some time to take the capital they receive and convert it into a successful company. On average, it can take a company who’s selling stock six or more months to begin showing even a moderate return on the capital they received.
  3. Build a portfolio of paper assets: It’s understandable that you’d like to play it safe by going for low-risk stocks or other low-risk paper assets, but if you want to have a great portfolio that won’t let you down, mix things up a bit. Try to have about 60 percent of your shares in low-risk companies, 25 percent in moderate-risk stocks, and the remaining 15 percent in high-risk stocks. Low-risk and moderate-risk stocks will keep you balanced, while the loss from a small percentage of high-risk stocks will not hit hard – but on the other hand, gains from those high-risk stocks could certainly have a nice impact.
  4. Look beyond paper assets: While stocks, bonds, mutual funds, and other paper assets are by far the most common investment vehicles for the average person, the investing universe is a lot bigger than just paper. Starting your own business, however small, may be a great way for you to get an economic benefit from your personal skills and connections. Like paper assets, businesses both large and small have risks, so it may be best to start small so that your mistakes don’t hurt you that much.
  5. Keep learning: Once you are committed to investing, you should also be committed to learning about investing. Between the Internet and your local library, you have access to more information about investing and investments than you can possibly learn in ten lifetimes. However, you are not investing in every option under the sun, so you can easily focus your learning to those areas where you are either investing in now or plan to invest in the future. The day you think you don’t need to learn is the day that you should hire someone else to do your thinking for you.

How to travel with large amounts of cash

When traveling with a large amount of cash, or other monetary instruments like travelers checks, money orders, and bearer bonds, you should take common sense steps to protect yourself from unwanted attention, and you should also be aware of what legal issues you may have to address.

Travel within the United States
The US has some odd rules about traveling with money. While it is legal for anyone to travel with as much money on their person as they please, there are a variety of laws that were designed to stop criminal transfers of money that may put you at risk to having your money confiscated. Basically, many law enforcement authorities can confiscate cash is they believe that it may be involved with a criminal transaction. It does not matter if there is no real evidence of a crime, it is up to the opinion of the law enforcement representative. The only ways to avoid this kind of hassle is to either avoid traveling with large amounts of cash, or to have along with the cash documentation, for example business receipts from US Money Reserve, or banking transaction records, with you that provides a reasonable explanation for the cash.

Travel to or from the United States
If you are departing or arriving the US, there are no limits as to the amount of money a passenger can carry. However, passengers who are carrying currency, endorsed personal checks, travelers checks, gold or silver coins or bars, or securities that are valued at $10,000 or more must report the amount that they are carrying to US customs officials. Failure to do so can result in fines or confiscation of the money. This reporting requirement applies all the travelers in your group, for example a family. For example, if a family of three is traveling together, and they have $10,000 or more between them, they must to report these amounts.

Travel outside of the United States
When leaving the US, review the customs requirements of your destination country before you travel. Rules will vary by country, so be sure to check those laws and regulations before you fly, and if necessary make alternative plans before you fly.

Protecting your money from theft or other losses
When you carry cash with you on an airline trip, you should take some very basic steps to keep from becoming a victim of theft, or from losing your money by accident.

  • Avoid traveling with large amounts of cash.
  • Keep your cash and other valuables out of public view.
  • Keep your baggage and belongings in sight when passing through a security checkpoint.
  • If your baggage must be searched, insist on keeping your bag in sight.
  • If asked about the amount of money in your baggage by a responsible authority, tell the truth.
  • If you suspect that you have been a victim of theft, contact a law enforcement representative immediately

A Quick Guide to Planning your Wedding Abroad

For some people the ideal mental image of the happiest day of their life involves a flowing white dress, an English country village and a traditional church filled with family and friends. For others it involves golden sands, palm trees and guests in bikinis. If you find yourself leaning more towards the latter fantasy wedding, then perhaps a wedding abroad is for you.

Newlyweds at sunset

So why choose a wedding abroad over a traditional wedding in the UK? There are a multitude of reasons – including weather, novelty and most surprisingly, cost.

Many a British wedding has been rained out to the utter dismay of the (slightly less) happy couple, so the attraction of hosting a wedding in a tropical paradise – where blazing sunshine and temperate climate are almost guaranteed – is easy to see. Obviously it is important to avoid the rainy seasons, but in general the weather for your big day will be assured compared to the unpredictable UK weather.

The novelty factor of having your wedding abroad cannot be underestimated. Whilst your friends will look back in years to come at the same ‘cookie-cutter’ wedding photos that are indistinguishable from every other wedding – you will be able to look back at photos of you enjoying the happiest day of your life on an exotic beach, the top of Niagara falls or wherever else your imagination can conjure up.

Your unique wedding abroad will also never be forgotten by your guests – but if you are planning a wedding abroad make sure to send your invitations out considerably earlier than you would for a wedding closer to home, to allow your guests to make travel arrangements.

Surprisingly the difference in cost between a wedding abroad and a wedding in the UK can often not be as extreme as you might think and this can be for a number of reasons. The average spend on a wedding in the UK is usually between £20,000 and £30,000. If you are planning to hold your wedding on an island in the Caribbean, where the local currency is generally dollars, when you take into account the exchange rate you can certainly get a lot more bang for your buck. As you will be spending a considerable sum on the arrangement of the wedding, it is also worth looking into international money transfer as a secure way of paying for the venue.

Finally it pays not to forget that the marriage ceremony is a legal procedure as well as celebration of your union, so be sure to research the relevant legal considerations of the country you are planning to be married in, as this can vary from country to country.

Savings stop as the economy slows

Since the global economic recession of 2008 began, life has been difficult for the everyday American. The cost of living has increased and it has become tough to manage competing priorities.

Wage freezes, unemployment levels of 9.1%, a struggling real estate market and an increase in day-to-day living expenses have all combined to make it harder to survive, let alone prosper!

Yet most Americans do not have a safety net to help overcome these financially tough times. Statistics suggest that one in four citizens do not have any savings at all.

This is a worrying situation, as a lack of savings means there is no emergency fund for when the going gets tough. A range of financial products can help with savings, such as those offered by short-term loan companies.

The recommended amount of savings suggested by industry experts is the figure you would need to cover a minimum of six months without an income. Yet only around 25% of all Americans have such financial security and these tend to be higher wage earners in the 50-60 years age bracket.

In today’s economic climate, it can on the surface seem hard, if not impossible, to find the money to save. Many households are experiencing increasing levels of debt instead.

According to published statistics, Americans have just under £118,000 dollars of debt per household. The combined personal debt of all Americans reaches a staggering $2 trillion dollars.

Savings are essentially an emergency fund for when the unthinkable happens. We all like to imagine we live in a certain world, but illness and unemployment can affect anyone.

Warnings and forecasts of a ‘double dip’ recession are hopefully nothing more than a worst case scenario, but those with savings have a greater piece of mind.

How would you cope in such challenging circumstances? For many people, that can be a frightening thought. However, it does not have to be, because you can easily take action to create a safety net.

Take a long, hard look at your income and outgoings. What could you honestly live without each month? A treat meal or night on the town, or perhaps the latest gadget or game?

If you can save even a small amount each month, the dollars will quickly add up. $50 dollars per month multiplied by twelve months is $600 dollars per year to invest.

It may not sound much but once you start saving, you will find that the great feelings it creates become addictive! Soon you will be happily contributing more each month to your emergency fund.

After all, this is the basis of the American Dream, to rise up against adversity and carve out your own road to freedom and success.

There is no greater freedom than financial freedom that comes from you yourself making the effort necessary, as the odds of winning the lottery are narrower than getting struck by lightning!

People who create better financial circumstances for themselves and their families gain much more than an emergency money fund. They gain a peace of mind and feeling of accomplishment too. Create your destiny now.

5 ways you can change your approach to debt

The word ‘debt’ has all sorts of connotations in contemporary America. In previous decades, debt was viewed as a wholly negative idea and some of this legacy unfortunately still remains.

Yet debt can be a way of negotiating life and if handled in the right way, can actually have many positive aspects. It can allow you experiences that may otherwise be unavailable to you.

There are different types of debt and many ways to deal with it in a responsible way, such as regular repayment to creditors and taking advantage of balance transfers when applicable.

Here are five key ways of changing your approach to debt that will help you understand debt and feel more empowered in decision making around money, loans, balance transfers and debt in general.

1. Appreciate the difference between positive and negative debt. Positive debt tends to be associated with long-term goals or commitments that will enhance your life or provide security.

Negative debt, on the other hand, tends to be associated with items for short-term pleasure and instant gratification that will affect your life for just a short period.

2. Realize that almost everyone in the United States has some level of debt and so you are in good company. Unless you are from a wealthy background, you will need to borrow money at some point in your life.

You may be surprised at some of the people you know who also have debts. Remember, even daily living can be expensive and most people need a helping hand with finance.

3. Two of the main reasons for borrowing money include paying for a house and for your education. These are long-term investments that will add value to your life, so the debt is a positive one.

Think about the purpose of the money you are borrowing. Having a College degree is almost essential when it comes to getting a well-paid job, so incurring debt for this reason is very different to simply using it for frivolous purposes.

4. Research different finance options when purchasing a car. Choose a reliable, but not necessarily top-of-the-range, model so that you can manage repayments without any problems.

Keep organized records of your finances and repay each statement on time. If you use credit cards, take advantage of lower or 0% interest rates on balance transfers.

5. Remember that actually having debt can work in your favor when applying for a mortgage or other type of financial product. Managing debt can show you are a reliable consumer and this will make it easier for you to get credit.

Most people are surprised that they can be turned down for credit on the basis that they have never borrowed money. Being able to show a record of responsible borrowing can give you access to better financial products.

Changing your approach to debt can allow you to access opportunities that otherwise will pass you by. An education or a home is hard to fund without financial help.

Stick to the golden rule of borrowing for long-term benefits rather than simply to pay for the latest trendy gadgets. Make regular repayments, keep records and allow positive debt to help you achieve your goals.

Problem 3: Not Looking at All Sides of a Problem

This problem is usually having a point of view on an investment situation where you may have taken someone else’s word on it or never really given the question serious thought. One common financial example of this the use of a financial advisor to assist you in buying and selling stocks, mutual funds, or other investments. Whenever I consider that advice from this kind of source, I ask several questions about the source of the advice. Some basic ones may include the following:

– Does this advisor have anything to gain or lose by my decision?

– Is this advice based on the advisors own expertise or on someone else’s?

– Is this person following their on advice on that issue?

– Is the advice based on a fair analysis or a biased analysis?

– Is it to my advantage to even consider taking this advice?

– If the advisor makes any performance claim, can the claim be backed up?

– Does the advice make sense?

– After further investigation and research on my part, does the advice still make sense?

– Does not following the advice make better sense?

The current rash of mortgage problems in the US, issues like short sales because of underwater mortgages and foreclosures, is one example of this kind of decision problem in action. Many people got into this situation because they didn’t think about the consequences of taking out a home equity loan to buy expensive toys, or the possible negative consequences of an adjustable rate loan.

There are many more questions that one can ask, but the basic point is that every decision can be looked at in more than one way. It is to your advantage to ask a few questions and do at least a little work to understand what may be behind a piece of advice.

Next Lesson: Being Overconfident In Your Predictions

Money Decision Problem 2: Solving the Wrong Problem

You can have the greatest system in the world for analyzing and solving your personal or business money problems, but you would be wasting your time if you were solving the wrong problem. This usually happens if you do not think through a problem before you start to solve it. To understand how to approach a particular problem you should understand at least these things about the problem:

  1. What are the limits to problem at hand?
  2. How do you define a good or a bad outcome to the decision?
  3. How should you measure the outcomes?
  4. What do you bring mentally and psychologically to the decision table?
  5. What are other ways to look at the problem?

A Mutual Fund Example
One example of solving the wrong problem is to pursue a high rate of return from a mutual fund investments without first deciding what kind of comparison or benchmark you should use to determine if the return is high enough. For example, index mutual funds that are designed to mirror the results of the Standard and Poor’s 500 index consistently outperform rough 80% of all mutual funds. The original problem may have been how to choose mutual funds with high returns. A better problem to solve would be how choose mutual funds which consistently perform better than the S&P 500.

Final Thoughts
Remember that most problems involving money usually involve something else besides money or mathematics. If you focus on the parts of the problem that are objective and that can be measured or solved with common with equations and spreadsheets, you may miss the most important part of the problem.

Next Lesson: Not Looking at All Sides of a Problem

Money Decision Problem 1: Not Taking the Time to Think About the Problem

Money Decision Problem 1: Not Taking the Time to Think About the Problem and the Decisions that Must Be Made

Before you make a financial decision, you have to know something about your needs, the effect your decision may have, and how you go about making a decision. Some common money decisions that often happens too quickly is what credit card you should have, whether to buy or sell a stock, or whether to go into debt to replace your boring old (and paid off) car for a shiny new one. Taking the time to make a proper decision can save you a lot of frustration and regret, especially if you do it consistently.

A Credit Card Example
Let’s look at the credit card situation more closely. There could be dozens of reasons why you suddenly decide that you need a new credit card. You might not have one at all, but one day you decide to rent a car and find out that you need a credit card. You might have a card already, but you find a way to transfer balances and reduce your interest rate for the first six months. Even if you think you need to take action right now, it always makes sense to think it through to see if it is the right decision for you. The following are just some of the questions you should ask yourself before you sign on the dotted line:

  1. What do you want to accomplish when making the decision? – At the very least, figure out if it is a short term or long term goal.
  2. Who will be making the decision? – Typically anyone who will be responsible for paying the bill and whoever will be allowed to make charges on the card.
  3. How should the decision be made? – Figure out things like whether you need to decide after comparing other options, or if any one person will have veto power.
  4. Does the decision significantly affect other decisions?
  5. Does the decision have to be made at all? – Think about what would happen if you took no action.
  6. Does the decision have to be made by some kind of deadline?
  7. What’s the worst that will happen if you don’t make a decision?
  8. How much time do you need to make a decision?
  9. What kind of options do you have?
  10. Do you have any experience making this kind of decision, and if so what did you learn?

Once the background questions are settled and you have a good understanding of your overall situation, you have to start dealing with the decision making process. You should finish gathering any information that you need to make a decision. For credit cards, this would be things like late fees or other penalties, how much interest you will be charged, and what kind of no-interest grace period you have. These kinds of details should be spelled out in the agreement. If you don’t understand it, don’t sign it. If you don’t see it in the agreement, then it’s not part of the deal.

The next big steps are making the decision and carrying it out. If you decide to do something, then follow through. If you decide to do nothing, then take no action, no matter how tempting it may be. If you decide to change your mind, go through the same decision process. Don’t make the mistake of being logical and systematic the first time through and then being very informal the second time you wrestle with the same decision. Every decision is a combination of your analysis and your judgment. If you have a consistent process, you’ll likely improve the quality of both your analysis and your judgment.

Final Thoughts
Keep in mind that a credit card can turn out to be a long-term relationship. If you pay your bills in full every month, it can be a very happy and harmonious relationship. If you fall behind, it can turn real ugly real quick.

Next Lesson: Solving the Wrong Problem

Making Money Decisions

Do you every wonder about your ability to make good decisions about money? Do you think you need to know something special to be better than average? Before you got that seminar, buy that book, or sign up for that MBA program, you should take some time to look at how you make money decisions. Success in investing, or choosing the best mortgage, or picking a sensible credit card all starts with using your mind to figure out your options and to make decisions.

The Making Money Decisions posts will take you through a few basics of decision making and take some of the stress out of making decisions about your money.

The ability to make good decisions is as skill that can be improved through practice and the use of the proper techniques. None of these techniques are based on any sophisticated mathematical or psychological concepts. If anything, the basic techniques of decision making are about figuring out what information you need for a decision, making a clear decision, and checking up on the results afterward. It is about finding the proper balance between intuition and analysis and recognizing that you can develop all the decision making skills that you need to become a better investor.

Next Lesson: Taking the time to think about your money problem

What is Threshold of Perception for Money?

In physical terms, the threshold of perception is the limit at which you start to feel something. A change of a tenth of a degree might not make you feel warmer, but you could feel a change of a full degree. Some people are incredibly sensitive and aware to such changes, others are not.

In many ways, people have similar thresholds with regards to money. You can see it in yourself when there is a small error on your bill, or you forgot a coupon for something you wanted to buy. For some people, every single cent is important, where for others, amounts of up to a few dollars in either direction aren’t worth noticing.

If you have a high threshold of perception for money, you need to be aware that those little amounts can add up. The few dollars in bank fees each month might not seem worth your notice, but if you let it slide for a few years, it can easily eat up hundreds of dollars. Unclaimed expenses are another issue. It might not seem worthwhile to pursue claiming each insurance expense or seeking reimbursement for every work-related expense, but those costs add up over time, taking hundreds or thousands of dollars that could be put to more beneficial uses.

So, work at lowering your threshold of perception when it comes to money. It might seem silly when you look at the individual dollar amounts, but when you add them up over time you will definitely see results. Taking the time to notice the smaller amounts can be time well spent.

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