How to Start Investing with Only $100

Who said you need hundreds of dollars to become an investor? Most average income earners don’t have fat bank accounts that can be readily invested. However, that doesn’t mean the struggling workers cannot actually double or quadruple cash assets by investing. If you have $100, you can become an investor. Here are several ways you can do this:

Open a Savings Account

The easiest and the simplest way to start investing is by opening a savings account. Rather than let your cash sit under the mattress or get spent in a checking account, open a savings account. Your cash will actually grow each month and each year with interest payments.

Most savings accounts generate low yields, but your money will be protected. Savings accounts are one of the least risky ways to invest. You can make money as long as the annual interest rate is above the inflation rate. Even if the bank’s interest rate is lower than that, you would have more money at the end of the year than when you opened the account.

So if you have $100, instead of spending it, put it in a savings account. This could be the start of an emergency fund or a way to save for covering the down payment of a house in the future.

Buy Low-Cost Stock (Carefully)

Buying stock doesn’t have to cost you hundreds of dollars. In fact, there’s a whole “wild west” part of the stock market that deals with so-called penny stocks, which is anything that costs less than $5. Not all low-cost stocks belong to this category. But you can buy plenty of penny stocks with mere change.

There are two things every amateur investors should know about these low-cost stocks: they are cheap and they are also very high-risk. The low-cost stock sector is notorious for scams, particularly email scams. Therefore, newbie investors should proceed with caution. It should be noted, however, that some low-cost stocks are actually legitimate. There are plenty of stories about how investors bought these stocks for as cheap as a dollar only to see the value increase to $10 in two weeks.

Penny stocks are a great option when you don’t have enough cash to invest in any “serious” assets. However, buying cheap stock is not a gamble. With the right amount of research and know-how, you can avoid the pernicious scams and make real money.

Invest in a Crowdfunding Idea

If you want to invest in a promising small business, investors typically need more than a hundred bucks, but not online. Platforms like Kickstarter allow entrepreneurs and innovators to accept tiny loans from interested investors. Browse a crowdfunding site for a business idea that you think might pay off. You can invest in return for free products or stakes in the company, depending on what the borrower is willing to return for the money.

You can get the best returns with crowdfunders who will return your cash with interest once their idea has come to fruition. However, be careful about whom you crowdfund. Find crowdfunders with a track record of delivering to protect your investment. Some may be willing to offer security for your money.

As you can see, there are plenty of lucrative ways you can invest a mere $100. It’s recommended to start early with small amounts to gain experience and knowledge. Later, you will be confident enough to invest larger sums.

Top 4 Reasons to Consider Refinancing Your Settlement Loan

Not everyone knows that it’s possible to refinance a settlement loan. In fact, there are times when refinancing will provide quite a few benefits. Before assuming you have the best arrangement possible, it pays to consider these possible advantages. If one or more of them applies to you, it’s time to talk with a company that offers refinancing options.

Lock in Lower Rates and Fees

At the time you secured the settlement loan, the rates and fees associated with it seemed to be fine. After all, everything would be taken care of once the settlement was granted and the obligation to the lender was fulfilled. Your main purpose was to secure the money needed to take care of basic living expenses, medical costs, and other obligations as you waited for the settlement to take place.

Now that some of the pressure is off, revisit the terms and conditions related to your present settlement loan. Is the interest rate really the best you could get? Would a different lender provide an arrangement with fewer fees and charges? When you find a lender who does offer better terms overall and who is willing to refinance the settlement loan, see how quickly the refinancing can be completed. If it’s managed before the settlement actually comes through, you could end up receiving a greater share of the money.

No Additional Application Fees

One of the things that sometimes stops people from exploring refinancing options is having to pay another round of application or other fees. What may surprise you is that not all lenders will charge more fees to refinance the obligation. In other words, you have the possibility of ending up with a better deal without paying anything extra.

Think of what that means if you secured some type of settlement funding to cover current and pending medical expenses. If you find someone who offers better terms for medical expense loans, you can refinance the obligation and not have to absorb any type of additional costs. You still have the money needed to cover your medical needs, and retain more of the settlement once the court makes a decision.

Change the Disbursement Options

Most settlement loan providers offer more than one option for disbursing funds. You can get a lump sum or receive monthly stipends of an agreed upon amount. What happens if you want to change the disbursement method? Some providers are flexible enough to allow a switch. Others will not change the disbursement option after the first one is sent to the debtor.

If your current provider will not change the disbursement plan, a different provider may be willing to refinance the total amount and allow you to change the way the money is received. Better yet, that provider may have provisions for changing the disbursement method at certain intervals. For example, you may have the option of switching from monthly disbursements to a lump sum disbursement at the beginning of each calendar year. That is a nice feature that comes in handy if your personal circumstances change before your personal injury case is finally settled in court.

Retain More of Your Settlement Once It’s Reached

Typically, the responsible party pays the amount ordered by the court and the funds are forwarded to your legal counsel. The lawyer receives his or share for services rendered, then the settlement company receives payment for all funds disbursed. Whatever is left is remitted to you. That remainder is affected by the interest and fees owed to the settlement company.

The bottom line is that if you can refinance the settlement loan and owe less to the lender, you end up with more of the settlement money once your case is completed. Those funds can be used for anything you like.

Are you getting the best terms from your current settlement loan provider? If not, look into

settlement loans refinancing from Casemarkfinancial.com today. Arrange to have a professional compare the specifics of your current loan with what this provider can offer. It won’t take long to determine if refinancing would be to your advantage.

 

Extra Income for Artistic Types

It’s the ever-present bane of someone in the arts: how to actually make an income. Very few actors, painters, writers, and musicians can actually make a full living simply doing their craft and nothing else. Rarely does anyone actually become wealthy by it. Most artists take on a second (or third, or fourth) job in order to make ends meet. Waiting tables may be the classic method to go about generating income, but there are other, less exhausting options as well that provide the flexibility to let you pursue your craft while you make some dough.

Freelancing

If you have a particularly sought-after skill, such as web design, copy editing, or blog writing, freelancing may be a great option for you. As a freelancer, you hire yourself out to clients to perform a task for them. For instance, a company may need someone to proofread their monthly newsletter, but they don’t want to hire someone permanently just for that task. They will turn to a freelancer to do it as a one-off project or even on an ongoing basis. As a freelancer, you pick what projects you want to do, and you essentially piece together your own schedule, leaving you the time to pursue your art. Lots of freelance jobs are also remote, which means that you may even be able to work while you travel.

Freelancing can be great for artistic types, because you can freelance as you do your craft. An actor may go into voice-over work. A pianist may hire him or herself out to play for weddings and parties.

The drawback with freelancing is that it can be a bit tough to get started. Freelance platform sites like Upwork and MediaBistro can be great, but the competition is fierce. You might start by marketing yourself via word-of-mouth to friends and colleagues.

You also need to know how to file taxes as a freelancer. You should fill out a W-9 for your clients, get a 1099 form from the client (if you earned more than $600), and fill out a 1040 form for the IRS. How much you earn will determine the other types of forms you use. Since you’re self-employed, you won’t have part of your income withheld, so you may face a large sum come tax time. In order to keep this large amount from catching you off-guard, either stash away a percentage of your income every month or file taxes quarterly. You’ll have a lot of stuff you can write off, however. Keep track of everything that might be a business expense, right down to your computer! A good accountant can also help you figure out what you can write off.

Day Trading

If you’ve got a knack for numbers and tend to obsess over things, you might look into part-time trading. It usually takes about one to three hours of your time each day (during the official opening and closing of the market), especially once you get into the flow of it.

Trading, whether full-time or part-time, takes strategy and know-how. For instance, you should know what the Relative Strength Index (RSI) is. (It measure the speed and change of stock prices in order to determine if stocks are being overbought or oversold.) Make sure you educate yourself on a solid RSI trading Strategy from a reputable source.

There are some essential tips you should keep in mind if you’re a first-time trader. For instance, rather than jumping around from strategy to strategy, pick one and stick with it. As you gather facts about trading, make sure you learn how to trade as well. You might start with this strategy developed by a veteran part-time trader to help simplify and streamline the process for beginners.

And you can’t slack on it! Trading, even part-time, means you have to monitor the market all the time and make carefully-planned decisions. You can’t just trade when you feel like it; you have to dedicate yourself to a daily regimen. There’s not a lot of room for error. In the early days, you should also have another job, because you probably will make a lot of mistakes. Over time, though, successful trading can give you the flexibility you need to travel and say, “Yes,” to projects that forward your artistic career.

Temping

Lots of artists turn to temping as a way to make money. Temp jobs can last for one day, or they can last for months. If you are good at data entry, handling phones, or even cleaning, a temp agency may be a good way to go.

A temp job could be anything from covering the front desk for a day, stepping into retail service during Christmas, or stepping into a personal assistant role for a few months while the permanent employee is on maternity leave. You may go into a temp job knowing the exact end date, or you may go into one that turns into a permanent position–temp-to-hire is a common route lots of companies and employees take. And it’s a good way to learn new skills and make connections–that way, if you’re in a car wreck, you can call up that personal injury lawyer Surrey you worked for for a summer and get some advice.

When you apply for a temp agency, they do the vetting and interview process, so companies looking for, say, a new receptionist already know they have good options. And you can always turn down a temp job. Granted, you may have a maximum number of jobs you can reject, but if you are getting called for work on a day-by-day basis, and you have a gig come up, you do have the opportunity to decline. Since you’re technically hired by the staffing agency, you may be eligible for employer insurance if you work enough hours. And if there aren’t jobs available, lots of temp agencies will let you work a half-day for them, so you’re at least getting some pay for the day.

Of course, temping also means changing jobs frequently and having to get used to a new workplace environment time and time again. But if you want to financially support a life in the arts, temping may be a good, well, temporary way to pay the bills while you get established as an artist.

How Blockchain Can Change the World’s Financial System

Cryptocurrencies are volatile, and while they may have been a great investment for some, it’s unlikely that people would want their paycheck to be in bitcoin or a cryptocurrency. The world’s financial and retail markets are not designed to handle bitcoin or cryptocurrencies yet.

You can’t go into Walmart and make a purchase with bitcoin.

Volatility is the main factor holding cryptocurrencies back from going mainstream. But blockchain technology is much closer to changing the financial system.

Blockchain Has the Potential to Reduce Fees

Big banks have spoken, and Santander, a major European bank, suggests that blockchain could save banks $20 billion in fees. The report suggests that blockchain technology has the potential to:

  • Increase product confidence
  • Allow for near-instant clearing
  • Reduce the margin of error
  • Include transaction irreversibility

Distributed ledger technology has the potential to save big banks money, but there’s no certainty that this savings will be passed on to the customer. Banks will benefit from less intermediary services being required, reduced errors and faster clearing.

Smart Contracts are Possible

Smart contracts are the wave of the future. These contracts are built into the blockchain and are often called self-executing contracts. From a financial perspective, smart contracts may offer the most exciting development in the financial industry in centuries.

The development is simple:

  • Conditions are built into a smart contract
  • The contract executes based on the conditions

If a web host required a smart contract, it may require $100 to be paid before the hosting environment was unlocked. A smart contract would wait for the $100 condition to be met before allowing the site owner to access the resources.

The contract could be used for anything, from product purchases to real estate purchases.

Smart contracts eliminate costly legal fees and are designed for precision. There’s less risk of fraud or contractual agreements not being made.

Peer-to-Peer Investing Options

The Harvard Business Review explains that blockchain allows new businesses to access growth capital much faster than with traditional means. Access to growth capital is done in a different way with blockchain than the traditional initial public offering or venture capital.

Peer-to-peer lending is an option that allows for lending through initial coin offerings, or ICOs.

ICOs have come under great scrutiny because a lot of the companies offering ICOs are fraudulent. But the ability to raise money has been impressive. Blockchain companies raised $200 million in funding through ICOs in 2016.

Risky and not recommended for the new investor just yet, companies in the future may build upon ICOs to fund their growth rather than go into IPOs.

Federal governments are also using blockchain technology to their advantage, with many considering their own cryptocurrency. There’s a potential for a future FedCoin, which Yale University has proposed. A FedCoin would allow for negative interest rates in the financial market, and monetary policies would be more enforceable and flexible, too.

The Bank of England also conducted a report stating that a central-bank virtual currency has the potential to boost the country’s GDP by 3%. There are a lot of legal and consumer hurdles that need to be met before a FedCoin becomes truly viable, but blockchain has the potential to change the financial industry like no other technology available.

Demand for Gold Weakest Since 2008, Is it Still a Good Investment?

This week saw Gold rise to a 2018 high as investors reacted to the widely expected decision by the Federal Reserve to keep interest rates unchanged.

Hovering around the $1300 mark, gold has proven to be a more volatile commodity over the last few years, with stronger fluctuations than in previous decades. What was once considered a safe, no frills investment has recently had to compete with rising interest rates and more volatile markets in general. The introduction of cryptocurrencies into the equation and its volatility has impacted upon other assets prices, gold included. So, is Gold still the ‘safe’ investment as before and is it still a good investment?

In a report released by the World Gold Council, it was revealed that gold demand recorded its weakest first quarter of the year for a decade. Total global demand for the yellow metal stood at 973.5 tonnes in the period between January to March. This was down 7% on a yearly basis and the weakest first quarter since the financial crisis of 2008.

The largest decline in demand came from the investment sector, with gold IRA companies reporting coin and bullion consumption down by 15 percent.

So, if demand is falling and the price stagnating, is Gold a good investment? Well, Ron Paul seems to think so. The former Congressman and Presidential candidate said in an interview with CNBC that people should purchase gold to protect themselves against a 50% correction in the equity markets.

“The fundamentals show that the spenders are in Washington. They’re alive and well. The deficit is skyrocketing like never before. The market is destined to go down.” Said the libertarian.

Gold has always traditionally been seen as a safe haven investment. When there are political, economic and geopolitical concerns, people turn to gold as a safe investment. What we are seeing at the moment, is that the possibility that rising global tensions will support gold buying in the foreseeable future. Trade war talks between the two largest economies in the world – the US and China, if degenerates further could see gold as a safer investment that stocks, which would get affected most by an escalating trade war.

Another reason to think that gold will find further support are geopolitical concerns in the Middle East (again!) If tensions escalate further with Iran, the low risk element of gold will attract investment.

However, keeping gains in check will be rising interest rates. Although the Fed decided to keep interest rates on hold this, it is anticipated that there will be at least two more interest rate hikes before year is out. Any raise would boost the US Dollar and make push dollar priced commodities such as Gold and Silver a more expensive and less attractive investment.

There’s every reason to believe that gold can climb higher this year, possibly above the $1600 mark. A lot will depend on whether there is a crash or market correction in equities, but gains will be kept in check by rising interest rates worldwide. Overall, it’s hard to see gold down lower than it is and it’s still a good investment with some modest gains to be made this year at least.

Most popular Canadian bitcoin scams you should beware of

As we are advancing more and more due to technological advancements and emerging concepts of cryptocurrency, the troubles associated with them are becoming a matter of great concern too. In Canada itself, the frauds related to bitcoin has more than doubled in past year and thus it is important to stay updated with the latest and most popular bitcoin scams to stay safe from them. Once a bitcoin transfer is complete it becomes almost impossible to recover the money back. Since there is no regulatory authority like a government operated team or a bank, the risks become high for anyone dealing in bitcoin. Here are some of the most popular Canadian bitcoin scams we have come across from various sources. Make sure to stay safe from these!

1. Bitcoin phishing

Bitcoin phishing is no different from other forms of phishing where the email sender with a malicious intent tries to get you into a trap. This can be an email demanding urgent attention or a very lucrative offer on the hand. Its primary aim is to get you enter the important data like the secret key. In case the user is not using a two factor authentication with the bitcoin storage service, the risks of his/her account becoming compromised increases further.

2. Scam by self-proclaimed bitcoin experts and traders

There are many self-proclaimed bitcoin experts and agencies that promise you to get high returns or guaranteed benefits if you invest your bitcoins with them. They usually say they made millions for their customers and they have a waiting list.   They also list some famous companies as their partners. Some of the companies might not even exist and be merely a shell company. The good news is that there are some websites that tells and differentiates a scam website from genuine ones. For example, you can read Thatsucks.com warning on the Crypto Genius and find open threads and discussions about authenticity of CryptoGenius website. The Company CryptoGenius claims to provide guaranteed amount of money to its prospects, claiming self to be a cryptocurrency trader.

3. Cryptocurrency exchanges

Sometimes hackers go to an extent of having a fake exchange open where they ask you to do the bitcoin transaction. While you may think your money is safe and encrypted using a hash algorithm running in background, the exchange itself might not be available next day. Thus it is important to first check the credibility of the exchange and how old and reliable it is. Similarly there can be fake bitcoin wallets where you can be asked to deposit your bitcoin only to realize later that you have lost it forever.

4. Impersonating as someone else

There are many cases in Canada where the hacker impersonates himself as some bitcoin authority or in some cases hackers call and describe themselves as an important authority. In both cases the demand is made to send bitcoins to another account in lieu of something that doesn’t even exist. These scam calls and impersonations are similar to the online fraud that happens where the transaction once done cannot be reversed.

5. Malwares

Malwares are unwanted and malicious software that gets downloaded to your machine when you browse a potentially harmful site. Such softwares have the ability to reside on your computer and gather data about your email addresses and even ability to hack your data. By compromising the email or any computer feature the inventor of the malware gets an upper hand and creates trouble. Many users were demanded bitcoin in exchange of data and some computers were hacked and bitcoin threats were made to the owners. The best approach in such case should be to check the certificates of sites and trust sites that are secured by a layer of SSL.

Conclusion

There might be many more ways a scammer can device to gain access to bitcoin. The awareness about ongoing scams and a good amount of commonsense can keep you safe.

How You Can Learn to Trade on Rules-Based Trading

We are creatures of habit. Habits form patterns that become rules of a sort for how we live our lives in a dependable way.

One of the most compelling illustrations of this is Danish photographer Peter Funch’s “42nd and Vanderbilt” project. He stood at that corner in New York City and from 8:30 to 9:30 a.m. between 2007 and 2016 took photos of commuters on their daily pilgrimage. Many of them were the same people, day in and day out, just more grey and grizzled over time. Their faces always had the same expressions, mostly grim. Many wore the exact same shirts in 2016 that they wore in 2007, or shirts in a similar color and style. They also consistently did the same things, like holding a to-go coffee cup the same way.

That sort of habitual consistency is also frequently seen in the stock market. People who figure out how to read the patterns and act accordingly can make a lot of money, and because of that consistency, they can do so in a way that mitigates a lot of the risks of playing the market.

It’s called rules-based trading, and I should know because it’s a strategy I’ve used and share.

Rules-based trading is really a dependable approach for beginners and those with a low appetite for risk. It’s quite simple, actually, for those who do their homework and who are mindful of and keep to schedules.

It’s a way to piggy-back off the seasonal buying and selling that marks the activities of the institutional investment community, and reflects both bullish and bearish environments. Here are some examples.

On the bull side, take a look at Rockwell Automation. Between Nov. 13 and Dec. 26 in 21 of the last 23 years, the stock has gone up, with an average return of 5.76 percent. The return on options plays: 50 percent to 100 percent.

On the bear side, there’s Skecher, whose stock has declined between Sept. 14 and 27 in 17 of the last years, showing an average 6.82 percent decline. Putting options on that play will get a return of 50 percent to 100 percent.

Here’s why this system is a good one to put in place. You know what you’re getting. It’s designed to “set and forget.” You place your trade and don’t do anything more with it until it’s stopped out, the target is reached or you hit a trailing stop loss. You’re set as long as you keep it all within the precisely defined windows.

You avoid the psychological pressures of trading, but still get the fun of watching how it’s going without having to constantly be monitoring and analyzing new information. However, you do have to do your homework to identify likely targets (through data available on platforms like Yahoo Finance and Bloomberg) and apply the option strategy that fits.

Rules-based trading is an excellent way to build market knowledge and discipline that, over time, you’ll be able to take to the proverbial bank.

Certus Trading makes it easier to get into rules-based trading with our Profit Scheduler Club for options. We do the data analysis and show what options strategies will apply best, equipping you to comfortably make the trade.

How to Discover the Next Bitcoin

If you were not lucky enough to be among those who bought Bitcoin early, you’re probably now keeping an eye out for the next big thing in crypto, so you too can trade and earn big.

Many of those who invested in Bitcoin back in the day are probably retired now, living on a beach island somewhere, enjoying their wealth and looking back with pride at their investment choices.

In the past few years, no other investment has performed as well as cryptocurrency, especially Bitcoin. Virtually everyone who held any amount of coin practically became millionaires overnight, especially with the remarkable spike in December 2017 which saw Bitcoin close at US$17,000. This success has led to a regular treasure hunt where everyone is looking for the next Bitcoin, so they too can cash out at more than 1000% returns in a few years.

In this article, I’ll explain what you should know and things you should look out for when trying to find the next Bitcoin.

But first, I have to point out that finding the next big crypto will not be easy. There are already hundreds of possible prospects, with hundreds of new ones coming into the market every month.

So, it is vital you know how to separate the proverbial wheat from the chaff as not all these coins will be successful or you could end up losing all your money. Also note that there are many risk associated with cryptocurrency, especially with the recent clamor by industry watchers and government agencies for cryptocurrencies to be regulated.

If after all your research and investment, regulations are drawn up that don’t favor the currency, all you bought will not be worth the computer it is stored in.

With that in mind, read on for top tips to finding the next big crypto.

Look for new, low priced crypto

If you are looking for a crypto that would earn you big bucks in a few years, the first thing you should do is to look for new coins that are low priced, preferably below a dollar. People are attracted to cheap items; this is a fact of life. As long as they can have it for less money, they will buy it.

A cheaply-priced crypto coin has a higher tendency to double or triple in a short time than a highly-priced crypto. The trick to making this work is to spread your risk by buying more than one currency.

If you spread your portfolio over say 5 coins, at least a couple of them will make big hits in a short time. A good example of this is RubleBit which rose by 522% within a week from an original value of US$0.038.

Do an in-depth research

The rate at which a new coin will grow sometimes depends on how easily it will be adapted as a cryptocurrency. You therefore need to do an in-depth research to find out which coin has the best chance of being adapted.

By doing this, you can make an estimate of the potential value of the coin for when it reaches set level. Part of your research should involve visiting Reddit where you can search for and locate coins that have a large community of followers. Here you will find people who innovate or adopt currencies long before the rest of the world becomes aware of their worth and catches up.

It is these communities or groups that start a demand for a coin which will subsequently lead to an increase in price. When the price of the coin increases even a bit, early investors can make some money.

Follow the noise

One factor that sets a coin apart as one with potential is the amount of noise or buzz it generates online. If you keep your ears to the crypto-ground, you will hear when a coin starts to generate a huge following. This means that the coin is very likely to increase in value. Reddit is also the place to keep an ear out for this noise.

You can also look up and follow social media groups and top cryptocurrency trading review websites. Pay attention to the coin everyone is talking about and use it as a guide to determine the one you should buy.

Most times, when these coins appreciate quickly, their supply becomes limited, so you need to be fast on your feet to catch in on the early wave.  Coins that generate the higher buzz have a higher potential of becoming the next Bitcoin.

Supply rate

The maximum supply level of these new coins is another factor to consider. Take note of coins with a higher circulated supply as against the maximum supply. It means you’re better off with a coin that’s available in a thousand hands, than one that has just two thousand units available for distribution. These coins are more likely to rise in value as the demand increases as there’ll be limited supply to match demand.

Price charts

It is vital to keep an eye on the cryptocurrency price and volume charts. The next big crypto is the one that’s rising fast in both price and volume.

This kind of report shows the currency is gaining momentum and has a high chance rising in value. Updated information on cryptocurrency price and volume can be found online, and while there is no guarantee that this momentum will be sustained, it is nonetheless a good way to find out which cryptocurrency have investors interest for that period.

In conclusion, investing in cryptocurrencies is a high risk business. While it has the potential to make you enormous profits, it also has the potential to make you lose everything. However, if you get it right, and have the right regulations fall in place for you, you can be set for life.

With that in mind, note that these tips should be used with caution. It is by no means an assurance that you will make huge profits in cryptocurrency. It is only a guide to supplement your own research.

4 Financial Tips For Periods of Unemployment

At some point or another, a person may find themselves without work.  Whether you’ve been let go, are in between contracts, or suffered an injury.  When you find yourself without a regular paycheck you may find yourself wondering how you are going to be able to pay for it all.

You may start to stress about whether you will ever find a job again.  However, it’s important to try to stay focused not on what might go wrong, but instead, how you are going to make it through wisely.  

Try the following tips in order to keep your head above water during your period of unemployment.

Live Modestly

When you stop seeing a regular paycheck coming into your bank account it’s important to realize that it’s time to pull back on how you would spend normally. When you continue to spend as if you had a regular paycheck coming in then you’ll quickly run out of resources.

Instead, create a strict budget of exactly what you have and decide what the minimum is that you need to spend in order to ensure that you can afford all of your bills and expenses.  This way you can stretch your resources out for as long as possible.

Stay Positive

When you’re going through a tough period of feeling like you aren’t sure what the future holds financially, you should try to remain positive rather than assuming the worst.  When you start to fall into the pit of negative thinking then you’ll find that you aren’t as productive or likely to see opportunities when they arise.

It’s always important to try to think about all of the things that are going right rather than wrong.  When you maintain a positive outlook on life then you are much more likely to attract positivity and wealth into your life.

Use Your Credit Cards Wisely

If you find that you have to dip into your credit cards to be able to pay for your expenses, then just make sure that you do so in a calculated and wise manner.  Keep track of everything that you spent and make sure that you take out the minimum amount possible.

Since it can be a slippery slope putting yourself in debt when you have no paycheck, it’s important to take it extremely easy on your charges.  Above all, make sure that you always pay your payments on time to avoid late fees and piling interest.

Make Necessary Adjustments

It’s important to do whatever it takes in order to keep yourself afloat.  Therefore, if it means you have to move in with your parents or sell a few things in order to pay the bills, then so be it.  You have to focus on survival rather than comfort at some points in life.

How to get the best foreign exchange rates for your business

If you carry out business transactions with countries other than your own, you’ve probably come across the phenomenon of exchange rates. You are likely to have had to deal with small losses when converting from one currency to another, and sometimes it’s just a fact of life. But luckily, there are ways to deal with the problem. So, what exactly are exchange rates, and how can you find the best deals?

Understand how they work

Before you can hunt out the best rates and get good deals as part of your financial planning, you need to understand how the exchange rate mechanisms work. Firstly, it’s important to remember that governments around the world often take actions that affect their currency exchange rate. In addition, factors outside the immediate control of governments also cause movements in rates. For example, the exchange rate a country’s currency has against other currencies is linked to the rate of inflation in the country, as well as interest rates and unemployment figures.

Keep an eye on the news

Once you get a feel for what factors can affect exchange rates, you’ll be able to pinpoint times when they’ll work in your favor. Ideally, you will be able to time your transactions so that they occur at those times. For example, if you’re aware that there’s a push on domestic exports at the moment then there’s a good chance exchange rates will be lower – and if that benefits you, it may be time to strike.

Use an online resource

As foreign exchange rates are constantly fluctuating, you will need an up-to-date guide that helps you to pinpoint the exact figures you want to transfer. A currency’s valuation is determined by how much money is flowing in and out of a country, and there will be a matrix of socio-economic factors impacting on rates. With Brexit making its mark in the UK, the pound sterling is a great example of a dominant currency undergoing volatile changes. So, to obtain a favorable exchange rate for a US to UK money transfer in the current climate, it’s wise to use a reliable online foreign exchange resource.

Manage risk

Whatever happens, foreign exchange rates are likely to provide some uncertainty for your business. Nobody knows what’s around the next corner, but everybody can plan to cover themselves whatever comes their way. For that reason, why not set a budget at the start of the year to cover foreign exchange fees? By setting aside enough cash to cover the worst-case scenario, you’ll be able to relax safe in the knowledge that you’ve planned for the fees – and if rates turn out to be better, you’ll have a nice cash injection for your business once the year has ended.

Even if you’re a business-savvy person running a successful company, exchange rates can still seem complex and intimidating. Luckily, there are plenty of ways you can work this mechanism to your advantage when carrying out business transactions: with a bit of strategy and knowledge on your side, you’ll be able to find the best deals and secure attractive rates.