Money Management: Articles, tips, tricks, and information on helping you manage and invest your money. Learn some tips on investment as well as money management. Be smart! Investing, IRA, and Investment Information:
  • Forex, An Alternative Investment Vehicle
  • IRA Distribution Mistakes--How to Blow your Retirement Money
  • 5 Tips To Make More Money With Financial Spread Betting
Paper Trading, Day Trading, and More:
  • Avoid Day Trading your Dollars Down The Drain
  • Currency Trading or Dogs-of-the-Dow
  • Paper Trading And The Transition To Real Money Trading, Part 1
  • Paper Trading And The Transition To Real Money Trading, Part 2
  • Amazing Arbitrage Trading Home Business
Business Loans, Bonds, Credit Cards, and Funding Information:
  • Seven Sources of Funding Your Business
  • Is a Business Loan Really Your Best Option?
  • Loans Can Help You Make Money
  • Do You Own Bonds?
  • How To Avoid Problems When Using Credit Cards
  • Wedding Loans—Celebrate The Occasion With A Cheaper Loan
  • Finding The Best Cash Back Credit Cards To Suit Your Lifestyle
  • Credit Cards For College Students – Sensible Use
Miscellaneous Money Management Information and Articles:
  • Resource Management
  • Principle 10 - Putting Your Money Into Motion
  • 7 Power Habits to Guarantee Financial Independence
  • Life Insurance That Suits Your Life

Forex, An Alternative Investment Vehicle

Forex, An Alternative Investment Vehicle

By Ference Kish

 Forex (Foreign Currency Exchange Market) has been used by international banks and large investment companies for years to make millions of dollars. However, with easy access to the Internet, it is now possible for anyone to take advantage of this powerful tool and make money the same way large institutions do, even with minimal startup funds at hand.

Even experienced investors seem mystified by Forex and have very little understanding of it. Forex is not much different from the Stock Market, often the same or similar techniques can be used to trade currency as is used to trade stocks and commodities. What make Forex so mysterious is the lack of available information and opportunities of training.

I have listed 10 good reasons why I prefer Forex to the Stock Market or any other investment option and why any individual, or small investor, should look at getting involved with Forex:

1. A 24 hour market. You don’t have to worry about running out of time because the Forex is open 24 hours a day, nearly all week.

2. Huge liquidity. Have you ever got stuck trying to get rid of some stocks or options? With Forex, there are always buyers, thousands of them!

3. No commission on your trading. This is specially important for individuals with small amount of money to invest. When using other investment vehicles the cost of the investment is often prohibitive no matter how attractive the investment itself is. Brokerage and other government fees can easily eat up your profit even before you completed a transaction. With Forex, there are no brokerage, government etc fees involved.

4. Low transaction costs. Typically less than 0.1%!

5. No middleman. The investor is dealing directly with the Market.

6. Instantaneous transactions. Forex is fully computerized and transaction can be completed in as little 2 seconds. The investor does not have to wait for trade confirmation to arrive by email, worst yet, by post. All ‘paper-work’ is in electronic format, easily viewed, search, analyzed.

7. Huge leverage yet low margin. Both increase your profit. In most cases leverage of 10:1 to 100:1 is the rule not the exception.

8. Minimal startup requirements. Again very important for individual or small investors. With Forex it is possible to start trading with as little as $300.00 dollars!

9. Easy access to the Market and your accounts, online, 24/7. Since Forex is completely computerized, anyone with Internet access can trade online and easily access their account and trading history. Most trading platforms allow the user to export this information to other third party software for storage, graphing, analysis etc.

10. No insider trading. Because of the way Forex is ‘de-centralized’, it is almost impossible for anyone to fraud the system.

I could go on for ever about Forex, it is an amazing tool for investors and also a very exciting opportunity for individuals. I hope you’ll catch the fever, too.

Wishing you success,
Ference

This article was added on: April 16, 2006.

About the Author:
Ference is fanatic about currency trading. When not gazing currency charts he spends his time searching for new investment opportunities. Visit one Ference’s sites at: http://www.forexguys.com or contact him at ference_kish@yahoo.co.nz



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Currency Trading or Dogs-of-the-Dow

Currency Trading or Dogs-of-the-Dow

Have you ever heard of the Dogs-of-the-Dow system. It’s a well known system in the stock and trading business. There are several stock brokers who have earned a lot of money by working with this system. They are using at for several years now. They think it’s a safe way to let your money grow slowly but consistently.

If you know the Dogs-of-the-Dow system you know that the system makes yearly a better percentage then the index.

If you have started using the system several years ago and used it properly for those years you would have earned a nice percentage each year. Double figures are more then ones made. A high yield income of 17.7 % average annual return since 1973 has been made.
The Dow Jones Industrial Average overall return was 11.9 % during that same period.
So you would have made almost 6 % more each year. Not bad at all.
If you never heard about it let me explain how that system works.
At some point in the year, mostly early January, you take a look at all the companies that gives you the highest dividend payment.

You make a basket (several companies added together) then you decide how much percentage you will spent on each company. Next you buy stocks of each company to a curtain amount of money you have available and wait until the year passes.
When the year has passed you make op the balance and see how much you have earned.

If you don’t want to trade frequently the Dogs-of-the-Dow system is a very relaxing and defensive and profitable way of money investment.

If you want to make a higher profit, trading is a better and faster way. Foreign currency trading in particular. Foreign currency trading requires little more than just knowing the currency course rate.

You have to understand some basics techniques of how the market trades those currencies.
With the right knowledge and techniques you can easily turn $ 50 into $ 1000.
Trading then isn’t just making money it’s also fun.

The fun is that it can be done 24 hours a day. When one market closes the other opens up. So you go from New York to Amsterdam to Tokyo to Sydney and back to New York.

Want to hear about the benefits of trading foreign currency instead of other money investment products.

This article was added on: April 16, 2006.



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Seven Sources of Funding Your Business

Seven Sources of Funding Your Business

By Massomeh Indanan

 Are you all ready and raring to go to launch your small business, but still lack that financial boost? There are many ways to get the capital for your business idea. I have here several really good sources for finding the funds to get your business started or to make it grow.

1. Family and Friends

Some people are lucky they can borrow money from friends or family to start up a business. Compared to credit cards, this doesn’t put your credit rating at risk, but it surely can put your family reputation on the line.

2. Government Loans (SBA)

This is short for the U.S. Small Business Administration, a government agency that helps Americans start and manage small businesses by providing loans, disaster assistance, advocacy and training. www.sba.gov

3. Peer to Peer Lending (Prosper)

Prosper is an online auction site where people can lend money directly to each other. Borrowers set the maximum rate they wish to pay and lenders set the minimum rate they want. Prosper matches borrowers with lenders and manages loan repayment. Lenders can get started with as little as $50 and borrowers can receive unsecured loans up to $25,000. www.prosper.com

4. Venture Capital Firms

A venture capital firm is a financial intermediary that pools the resources of its partners and uses the funds to help entrepreneurs start up new businesses.

5. Home Equity Loan

It is sometimes called a second mortgage. Borrow from a bank or mortgage company using the equity in your home as collateral.

6. Credit Cards

It can be tempting to start-up your business with money from a credit card. Be careful to at least make the minimum monthly payments to protect your credit rating.

7. Angel Investors

The typical angel investor is a retired business executive or business owner. Angel investors can usually provide more money than friends or family, and credit cards.

The loan usually ranges from $20,000 up to 2 million.

www.inc.com

All of the above resources are equally useful in their own rights. You just have to know which one is more beneficial to your business and situation.

Choose Wisely.

This article was added on: April 16, 2006.

About the Author:
Massomeh Indanan is the webmaster of www.prosper.com and www.agentsofvalue.com


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Credit Cards For College Students – Sensible Use

Credit Cards For College Students – Sensible Use
By Kim Stevens

Credit cards for college students can prove vital, especially when it comes to financial emergencies. Parents aren’t always around to bail out their children and by offering students a credit card it is possible to not only provide them with security for these emergencies but also teach them about the sensible use of credit cards and credit accounts in general. On the positive side, student credit card limits are usually set quite low making it difficult to run up masses of debt on one individual card but it is still possible without careful management.
Why Students Need Credit Cards

Student credit cards are only financially crippling when they are used incorrectly. In the case of students, running up bills on numerous student credit cards can mean repaying the debt over the next ten years and possibly even longer. However, as well as being ideal for use in emergencies they also offer the opportunity to build a credit history, without which it is virtually impossible to get a mortgage or other lines of credit.

A Single Application For A Single Card

As a student, the most important aspect of managing your credit is not getting carried away. This should start with your first application. Credit cards for college students are just that; lenders will usually accept your application with little fuss. You should not apply for multiple student cards in the fear that your application won’t be accepted. Select the most appropriate student credit card and then complete your application. By all means, if that particular lender refuses your application then apply for the next most suitable. There are plenty of credit cards for college students available from different lenders.

Sensible Use Of Your Credit Card

Another temptation is to apply for more cards simply to have more credit available. Don’t forget that a student credit card does not offer free money and you will have to make the repayments on all money you borrow. Bearing this in mind you should only use your credit card when you need the credit it offers and when you know you will be able to make the necessary repayment. The longer you borrow money without repaying the capital, the more repayments you will have to make.

The Joint Application Card

Joint application student credit cards provide a monthly statement to the student and to the parents. This enables parents to monitor the amount of money that their children are spending and, if necessary, help to make the necessary repayments. A joint application credit card is the best option available because of this feature.

When possible try to use cash or your debit card in place of your credit card. It may not seem too big a problem to buy a meal at the student union on your credit card but if you keep using it in this way, the money soon adds up to an uncontrollable figure. One final important factor to remember is that a t-shirt or a hat is not a good incentive to apply for a credit card. Always consider the application you make based on the merit of the credit card itself. Look at the interest rates, the incentives and any fees that may be associated with it and base your final decision on these.

This article was added on: April 16, 2006.

About the Author:

For more information on credit cards for college students, Kim Stevens recommends that you visit CreditCardAssist.com.



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Principle 10 – Putting Your Money Into Motion

Principle 10 – Putting Your Money Into Motion

By Drew Miles

 Learn how to get your dollar to do more than one thing at the same time: generate multiple streams of passive income. Have more than one strategy for generating passive income because if that one source goes bad, you’re in a world of hurt.

How banks get rich and how to use their wealth-building tactics
Imagine you deposit $1,000 in the bank. For every $1,000 the bank receives, the Federal Reserve will lend the bank $10,000. What do they do with the extra money? Give out car loans, for example, at 10 percent interest, when the bank is paying six percent interest on the same amount it borrowed from the Federal Reserve. This is a small fraction of how banks make money. The car dealer accepts $10,000 for the car, deposits it at the bank, and the bank then receives $100,000 for every $10,000 deposited. That initial $1,000 investment has been leveraged well. This is how banks get rich and how you should be thinking in regards to wealth building. How can you leverage your money, take the profit and reinvest it over and over?

It’s not what you make, but what you do with what you make
A student came to me recently. He’s a professional who makes an annual salary of $400,000. He admitted he can make money but has nothing to show for it. Besides the equity in his home, he had no retirement, investments, savings and $150,000 in credit card debt. This is not uncommon. Because he spent every penny he was making, it was challenging for him to save any money each month. We started depositing a modest $100 each month into a savings account. We then found $10,000 in tax deductions for him using Pathfinder’s strategies. He immediately deposited his $10,000 annual bonus into the savings account and accepted a side job teaching (between $50,000 to $100,000 in addition to his annual salary) to put toward savings. When you uncover more money that’s discretionary income, commit it to savings (or retirement savings) so you can put the wealth building into motion.

*Risk capital is a small percentage of your savings that is committed to higher level investments. It’s wise to build this into your savings account, however you should never bet the $50,000, which took you 15 years to grow, on one deal. The risk is too high.
During my years of law school, I completed an internship with a New York Supreme Court Justice and second legal internship with a law firm and also began investing in real estate. Immediately upon graduating law school and passing the bar exam, I opened my own law practice. From 1988 to 2001, I practiced with my partner under the name Miles and Gillard, where I concentrated in the area of real estate and business law.

This article was added on: April 16, 2006.

About the Author:
During my years of law school, I completed an internship with a New York Supreme Court Justice and second legal internship with a law firm and also began investing in real estate. Immediately upon graduating law school and passing the bar exam, I opened my own law practice. From 1988 to 2001, I practiced with my partner under the name Miles and Gillard, where I concentrated in the area of real estate and business law. Visit http://www.irabusinesssystem.com.



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Paper Trading And The Transition To Real Money Trading

Paper Trading And The Transition To Real Money Trading

Author: Barry Lutz

 Paper trading is widely discussed regarding its merits, and whether it is of value to a trader as they try to make the transition to real money trader. One viewpoint is that since paper trading is not real, the profits are meaningless, and are no indication of real money profitability. An opposite viewpoint would state that paper trading is an important step in the trader’s learning progression, and regardless of whether it is real, if the trader cannot ‘properly’ paper trade, then they will not be able to real money trade.

I began trading in early 1995, with the intentions of becoming an options trader; my first trading education was through an oex options teaching service. Besides options training, the service included ‘tape’ reading, trade management AND sp500 index futures trading – also included in the service was the prevalent attitude that paper trading was for ‘sissies’.

So I was a new trader, trying to learn and understand completely new concepts and ideas – what was called a trading method AND I was ‘practicing’ with real money – because paper trading was for ‘sissies’. What did I accomplish, besides a big draw down in my account? I quickly introduced to trading psychology and the related implications – something else I also knew nothing about. Losing money and a trading psychology ‘wreck’, both from the losses and thoughts like I was too ‘stupid’ to ever learn how to trade, became a combination which took me out of futures trading, and then unfortunately carried over into my options trading which I had previously been doing well with. I just couldn’t take it any more – I had to somehow start all over, or just quit for good.

Paper Trading Viewpoints

Consider: simulator fill prices are not real and won’t be attainable with real money. Even if this is correct, is it really an issue unless the trader intends to be a scalper, trading for very small profits, and thus each tick is critical? Granted, but shouldn’t a beginning trader be very selective, focusing on learning their method and the ‘best’ setups that method provides? This would be my viewpoint, and in this capacity paper trading fill prices are not an issue.

Consider: the trades are being done with no risk. No, there isn’t any financial risk in paper trading, but I actually haven’t met nearly as many profitable paper traders as one might expect. Why would this be the case if being able to trade without risk was such an easy thing to do? As well, what about self-esteem risk, and an attitude like – how can I be so bad that I can’t even paper trade? The risk feelings like these are probably greater than that of financial risk, and if they are going to surface, you would want to encounter them before trading real money. As well, even if the issue was only one of financial risk – wouldn’t you want to begin with the confidence of knowing that you were paper trading profitable? It would be hard to imagine a losing paper trading being able to profitably trade real money.

Consider: there is no emotion involved with paper trading. I was in our chat room watching a paper trader post their trades in order for me to give them feedback, and I noticed that one of their specific plan setups wasn’t done. When I asked why, the trader told me that they were ahead for the day and didn’t want to risk those profits. But the profits aren’t real – how can you not take a ‘base’ method setup when paper trading – isn’t that the point? Would you be in agreement, that if paper trading profits could be viewed in this fashion, that it has the ability to become very real and thus emotional to the trader? I would suggest that this is related to paper trading really not being ‘so easy’, and as mentioned above, self-esteem risk can be very emotional.

Click Here To Go To Part 2

This article was added on: April 16, 2006.

About the Author:
Barry Lutz has been trading, as well as teaching others to trade, since 1997 through his firm Tactical Trading, LLC. http://www.tactrade.com.


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