Archive for August, 2010

  • A man with a plan>
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    A man with a plan
    Retirement is a great time to just be you and spend money on the things you like to do whenever you want to do it. An acquaintance of mine certainly seems to believe so strongly and he shows this quite amply in the way he spends money at times (in my eyes most certainly) in meaningless ways. A lot of his money goes towards maintaining and restoring antique cars, an expensive hobby that takes a giant chunk out of anyone’s savings. Hobbies and interests such as this can take its toll on your retirement portfolio, so be aware of this when planning for your retirement. Let’s carry on with the example of the petrol-head, shall we? If he was making $15000 month prior to retirement, a good 60 to 70 percent of his income would have been going towards meeting his lifestyle needs, a further 20% or  [...]
    at August 30th, 2010 at 01:08 am
  • Your money, your fault>
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    Your money, your fault
    It was two weeks to the date when I was involved in what was a very stimulating conversation about money (and at times, the lack of it). Money is one of the last things I want to discuss with anyone since it’s a potential landmine, it’s such a touchy topic and so prickly. Some discuss it freely and with ease while others bristle upon a raw nerve being touched, but against all logic I decided to dive in head-first this time and discuss things candidly. Talk veered from how money was so invigorating in our twenties to how it is a cause for worry now, and inevitably we talked about our financial state now as opposed to those times. Personally, I’m making less (much less) than I was back then as a corporate suit that smiled and shook everyone’s hands through gritted teeth but conversely  [...]
    at August 25th, 2010 at 12:08 am
  • What Facebook Places means for your business>
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    What Facebook Places means for your business
    Social media is where a lot of the businesses are looking to move these days, it is absolutely de rigueur to have a social presence where you tweet, poke and do all sorts of things you stopped doing when you were eight or so. Facebook Places however does look like an interesting tool for businesses to put to use. In a nutshell, Places is a tool that lets people know your current location or allows them to “check you in” to places. There will be uproar as far as privacy goes, but those that do want to block the tool will do so. They are of no concern to you as a business, the only thing that should matter to you is this; how can you use Places to take your business to the next level? On Facebook Places, setting up a page will allow users and customers to see your business (the Place) on  [...]
    at August 23rd, 2010 at 04:08 am
  • Avoid the debt trap>
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    Avoid the debt trap
    Having a credit card on hand mans understanding its implication for you fully and many people fail to do exactly this. Used responsibly, it can do you a world of good. Used poorly, it will send you into a downward spiral you might not recover from. Credit cards are undoubtedly good for you, but only if you choose to wield it wisely, like so. Read the fine print Every card comes with tons of legal gobbledygook, make sure you read it through and through and clarify the stuff you don’t understand (because there’s always something in there someone doesn’t get), such as terms & conditions. Always ask for help when you’re in the dark. Read through your monthly statement Terms & conditions do keep on changing, if not on a monthly basis. Keep an eye on those due dates, add-on fees and  [...]
    at August 18th, 2010 at 02:08 am
  • Learn New Skills to Improve Your Financial Resilience>
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    Learn New Skills to Improve Your Financial Resilience
    On our path to building financial resilience, it’s important to learn new and alternative personal skills. In an economy like this, our ability is one of the best assets to invest in. I admit this is easier said than done. However, the more specialized skills you have, the more indispensable you are, and the higher compensation you receive. Here are few things you can do to sharpen your skills: If you are still in school, learn things outside your educational premises School is the time when you can spare some hours learning new skills by joining some course or coaching classes. You can take up a part time job, go for internship, join summer camps, interact with more people, and try to learn as much as you can from your experience. Take Up Skill Building Jobs Instead of simply taking up job  [...]
    at August 16th, 2010 at 01:08 am
  • Living Like a Drug Dealer is Much Better>
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    Living Like a Drug Dealer is Much Better
    Living life like a drug dealer doesn’t necessarily mean you have to consume drugs. One of my friends is into this business and he earns much more than he needs for his survival. However, he is happy giving away a major part of his earnings to charitable organizations, and lives life moderately. Only by understanding and adopting certain principles, he managed to have a cheerful life. Let’s see whether any of these can be useful to us. You Can Get Anything But Not Everything He has enough money to buy anything he wants. But buying everything is certainly not possible. Similarly, we too cannot have anything. Always, in life, we would come across multiple choices to choose from. However, taking all the paths is not possible. You have top choose any one. Don’t Bother About Others Most of  [...]
    at August 11th, 2010 at 03:08 am
  • What is ARM Mortgage?>
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    What is ARM Mortgage?
    If you have researched enough about different kinds of mortgage and interest rates available in the market, you would know there are many to choose from. One among such types is ARM mortgage. Let us dig this type a bit deeper and understand its pros and cons. What’s an ARM Mortgage? Adjustable Rate Mortgage, or ARM, has fluctuating interest rate, which fluctuates according to the market. If the mortgage rate as of now is 6%, you will have to pay the rate. And if it moves up to 10%, you will have to pay that as well. This may be beneficial for some, troublesome for others. Some like to pay a fixed amount every month, others like to save money on every drop. Advantages of ARM Mortgage If the interest rates go down, your monthly payments would be much lower in case of an ARM mortgage. This can  [...]
    at August 9th, 2010 at 01:08 am
  • Is it The Right Time To Invest In Gold?>
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    Is it The Right Time To Invest In Gold?
    If you are an avid investor and if you have been noticing the changes in investment products lately, you might have observes prices of gold have gone up lately. In fact, since last seven years, gold has increased in value considerably. It has even outperformed S&P 500 in the same period. However, many people are skeptical about the rally, and are not very sure whether it will continue. But experts say it will. According to gold and commodity experts, global economy is in the middle of a long, booming cycle of increasing commodity value, which initiated in early 2001. Price of gold rises in time of uncertainty and during inflation. Besides, in the past few years, global financial institutions have been flooding with liquid money, which may be responsible for devaluation in currency and rise  [...]
    at August 4th, 2010 at 12:08 am
  • Finding Difficult to Get a Mortgage?>
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    Finding Difficult to Get a Mortgage?
    After the recent sub-prime crisis, the process of applying for a mortgage has become austere. It has become very difficult for an average citizen to avail a mortgage unless having exceptional credit score. However, contrary to the belief, availing a mortgage can be easy by doing few simple things. Here is what you can do to make the process a bit painless. Accumulate Money For Down Payment In past, it was possible to get a loan without making down payments. The days are, however, gone. If you don’t have a good credit score, show the creditor that you are serious about purchasing a new house by providing more money as down payment. Is it possible for you to accumulate 20% more for the house? Besides, paying big amount as down payment will reduce your monthly payment by lowering your interest  [...]
    at August 2nd, 2010 at 01:08 am
  • Things to Know Before Switching Jobs>
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    Things to Know Before Switching Jobs
    Hopping jobs, though not a fad, is more of a sport for most of us. We apply for all available jobs in the market and we have become proficient on how to tackle interviews. The only reason why we keep switching is better pay, friendlier atmosphere, ideal manager, and supreme work conditions. This seems to be an unrealistic, never-ending hunt. However, if you dig deeper, you may even get a job that fulfills all your demand. But there is much more to a job than just receiving higher salary and better work conditions. This is why it’s imperative to explore a bit further before accepting any job. Apart from usual questions like ‘Will I be paid for overtime work?’, and ‘How flexible is my job?’, there are fee other questions that needs to be answered before you take up any job. Is My Future  [...]
    at August 1st, 2010 at 12:08 am