What does achieving financial freedom mean to you? Financial independence usually means earning enough money each month to pay your expenses and still have money left over. There are two ways to achieve this, you either earn more money or you spend less money. Today we’ll be discussing how to establish healthy habits to help you reach financial freedom.
Never risk more than 1% of your trading capital on any trade! That is one of the most oft repeated phrases when it comes to trading in general, but at the same time is perhaps one of the hardest principles to follow. Indeed, for an average retail trader with a $500 or even $1000 in trading, risking $5 or $10 per trade might seem like making nothing big in return. Traders often end up ignoring the 1% rule in forex trading and sooner than later end up regretting that they didn’t follow this philosophy. Fact is that the truth dawns upon most traders only after they have lost a significant amount of money on a trade.
If you have bad credit you might think you are doomed to ride the city bus and rent a house your entire life. Items such as a bankruptcy or debts in collection are going to ding your credit. These negative items will stay on your report for the next seven years. So you may think that you’re screwed for several years. But that might not be the case entirely. Sure, bad mistakes made when you were younger are indeed going to hurt you, but there are things you can do to to boost your credit score right away.
We all want to be better at managing our finances. It is understood by most people that responsible and smart money management will improve our lives. Responsible money management allows our lives to be less stressful—less fraught with questions like “do I have enough in the bank to cover this week’s groceries?” and “what will I do if there is a real emergency?”
It can be very intimidating to get into investing, especially for young people or people newly endowed with large sums of cash (such as in the cash of an inheritance). Investing can feel a lot like gambling, and it a lot of ways it is, so many people are hesitant to throw their hat in the ring.
Getting out of debt is not easy, but it is possible if you have a plan to destroy your debt. While these steps may not be sexy, they will work if you stick to them. Here is your blueprint to pay off your debt and get back in the black.
The period around Christmas and new year is always going to see your checking account taking a considerable battering.
In order to save money at times like this, it’s first necessary to have some extra to save. Follow our money-making tips below, and you’ll be well on your way to doing exactly that.
Usually when most consumers hear the phrase “payday loan”, alarm bells start ringing in their heads. Who can blame them? The media has painted payday loans as the bad guy.
Well, the reality is that, payday loans are exactly what they are: they are loans. They are neutral financial instruments that can produce a lot of good in the hands of some people and could produce a lot of bad when abused by some other people. That is the bottom-line.
It’s easy to focus on the harms credit cards can cause us. But that’s actually quite unfair because, if you look at it, credit cards are just neutral personal financial utensils. That’s what they are, they are simply tools we can use effectively. And just like with any tool, you can do something good with it or you can abuse it. It’s not the tool (the credit card) that’s the problem but the person using the tool – that’s the bottom-line.
As a parent, one of the most important things you can do is educate your children about money. It’s important for kids to not only know what money is, but how to use it and how much value it really has in society. Teaching your kids about money during three important phases in their lives will have a lasting impact that will last them throughout their lives.