Stock Market Tips Part 4 : Don’t Spend Money You Don’t Have

Over the last few Blogs in The Stock Market and Investing Tips we have gone over how important it really is to make sure that you study your stocks before you purchase them. Now, we are going to go over the importance of not spending money that you do not have. Now that may sound easy. However, you will find out when you are wrapped up in bidding on stocks that there are going to be times that you are going to want to spend money that you really do not have just to try and see if your hunch is right. Sadly, most first time investors will find out that they were wrong in their hunch. So how do you keep yourself from making that same mistake?

Set a Spending Limit

One thing that is really important so that you do not overspend, is to take the time and set a limit to the cash that you are going to be spending. Discuss your spending limits with your broker. Your stock broker will have your limits in mind when they are purchasing stock for you.

Do Not Listen to Other Stock Owners

You are going to have other people telling you which stocks to purchase. However, if you did your homework and studied your stock, you should have a good idea which stocks are going to do well in the days stock market.

Do Not Put Yourself in a Hole

The biggest thing that you do not want to do is to barrow against money that is for your daily living in hopes that you are going to come out on top in the end of the day. You will find that by doing this you are risking not just money, but money that you need to live off of. Which could cause a big issue. So, make sure you do not dip in to your money you live off of because you may end up paying for it big time

Tips for Fixing Your Credit Part 5:Benefits of Using Credit Karma

So now that you have Payment strategy and you have been able to pay off several bills over time, the next thing that you need to do is check your credit. However; when you get your credit, report make sure that you do not get dinged for looking it up. One of the best ways to check your credit report without it affecting your credit is by using a service called Credit Karma.

Credit Karma is a free service to those that want to check their credit report. However, they have a lot of other tools that you can use to fix your credit as well. When using this service, you need to keep in mind that it is going to have both reports, but there are times that the do not update at the same time. So if you see that there is a bill on your report keep in mind that it may take some time to fall off your report.

The items that you paid off will fall off of your credit. However, it does take time. It all depends on how you paid the bill. A lot of the time people pay with checks. By doing that they have a log of when they paid it and how much they paid. But checks do tend to take longer to clear with the companies as well as the banks. So keep that in mind that if you paid with a check each time it is going to take time to clear and then it will come off of your report. As a rule of thumb give it a month, if it still has not fallen off within the month, then call the company and give them the last payment information from your check so that they can look in their system. It could be something as simple as someone did not update the system. Once you do that it will come off your report within a week.

So, the next time you want to check and see how your credit is doing and what the next bill is that you have to pay off remember that by using Credit Karma you have that ability and it is not going to hurt your score at all to check it.

Tips for Fixing Your Credit Part 4 Have a Payment Strategy

Fixing your credit can seem like an ever-going process. But in time with diligence and a good strategy even what seemed impossible is possible when fixing your credit. That is why in this blog we are going to discuss the importance of having a payment strategy. Now you may think to yourself didn’t we talk about strategy when we were on Fixing Your Credit 1 Bill at a Time? Yes, we did however we are going to go over another strategy that you may find even more beneficial when paying your bills off.

Too Many Bills, Not Enough Money

So many of us on a weekly basis just do not seem to have enough money to make it through to the next paycheck, let alone enough money to pay off another bill. However, there is a way that you can make sure that you are able to pay all of them without having to worry about not having any money.

Take the time to set up payments. Setting up payments for once a month is really smart with your regular bills. That way you know when the money is going to be coming out of your banking account, but the company also knows when to expect the money. But you also will not forget to pay a bill. Then take the time to balance your check book and even if you have 20.00 that you can set aside for your back bills, you can take that 20.00 and divide it up to pay 2 bills or even 4 bills a lot of the time bill collectors will even take up to 5.00 payments. That way you can pay off more bills at one time.

Don’t Stress You Can Do It

You are going to find that there are going to be times that things are going to be a little tight because let’s face it emergencies do happen. But stay positive, you can do it. There are going to be times that you are going to doubt. But if there happens to be a time that you can not pay on your back bill you can always call them. Explain the situation and a lot of the time they will give you an extension making it so that you can still make the payment. A lot of the time they will just ask you if you could pay just the 5.00 on the account so that your account does not have any more interest add on.

By just giving them the 5.00 you will find that more and more creditors will help you when things do tend to get tight. So, the next time that you think that you are not going to be able to pay on several back bills think again you can do it.  

Tips For Fixing Your Credit Part 3; Talking with a Financial Advisor

Finances can be a complicated thing, and in some cases, can be one of the most complicated things we will ever deal with in life. Sometimes, understanding the basics of credit and debt can only take us so far toward reaching our goals. When you need advice that goes beyond the basics, you need to consider hiring a financial advisor.

Many people don’t realize that financial advisors, are just for the wealthy, and they are just for planning future investments, financial advisors can provide a wealth of knowledge and a range of services including helping you reduce debt which will have the simultaneous effect of improving your credit.

The most important thing you can do to choose the right financial advisor for you is to take stock of your goals and have clear ideas in mind of what you want to accomplish before you even begin research. Finding the right advisor can be like looking for a needle in a haystack, but it is a crucial decision.

Choose an advisor and/or company that is based close to you. That way, if you have questions or problems, it will be easier to set up a face-to-face meeting. Not only can phone calls be impersonal, it can be easy to forget questions you wish to ask over the phone, especially if you’re not in the habit of writing things down.

Secondly, take note of how the advisor gets paid. Advisors can work on fees, commissions, or a combination of revenue sources. If you are looking for something like debt and credit consultation, you may be better off going with an advisor that gets paid on fees rather than commission as they may be tempted to sell you products or services that aren’t ideally suited to you or your needs. Granted, this idea paints a rather bleak picture of human nature, but it’s one that needs to be considered.

Never be afraid to ask any question that pops into your head, no matter how silly or unintelligent you might seem. Many financial advisors say that one of the biggest issues they have with their clients, aside from not knowing what questions to ask, is not asking questions at all. When your financial future is at stake, you must teach yourself that the only stupid question is the one that you don’t ask.

Once you find an advisor you’re comfortable with, a big part of the battle is over. The more you work together, and the more that the advisor understands your needs the more effective the relationship will be. Once your debt is eliminated, and your credit is on the rebound, then you can consider sticking with your advisor and focusing on the investment side of things.

Hiring a financial advisor is just one aspect of a multifaceted plan to reduce your debt, improve your credit, and enjoy a better financial future. With a professional on your side offering advice and support, accomplishing your financial goals will become a whole lot easier.

~Guest Blogger~

Fixing Your Credit Part 2 ; Using 1 Credit Card At A Time

Having good credit is one of the most important aspects of financial health. Minimizing your debt and being a wise financier will go a long way toward lowering your stress level, and making sure that when the time comes you are more likely to get the loan you need for an emergency or a major life expense such as the home or starting a business.

In addition to paying off any debt you may already have one bill at a time, you can make repairing your credit and eliminating debt easier if you can manage to stick to using a single credit card. On the face of it this may seem like a daunting task, but it can be done.

The most important thing to remember is that as much as possible you should use a credit card for needs not wants. Even something as innocent as going to the grocery store can quickly turn into an overly expensive event if one too many snacks or good deals catch your eye. Do your best to track your spending then select an appropriate amount of cash to have on hand every month, and stick to that amount.

If possible, avoid taking your credit card with you on ordinary trips such as to the grocery store to minimize the temptation to spend too much. If you find yourself simply unable to resist spending more than you allot yourself, then keep your card in the possession of someone you trust, and ask them whenever you need to make a transaction. This person will become your debt/credit buddy, and can be a real lifesaver.

Reward credit cards can be a double-edged sword. Some people can be severely tempted to spend more because they’ll receive more in the end, but the more you risk putting on your card the more you risk going into debt.

If for whatever reason you need to make an extra purchase, do your best not to go beyond 30% of your total credit line, this will keep your debt reasonably manageable while at the same time showing the credit monitoring institutions that you don’t spend recklessly, as racking up too much debt at once can hurt your credit by itself. This is especially true for new borrowers who have not shown an established history of paying bills off on time.

A single credit card may seem very restrictive, but done responsibly it can be an easy way to repair and rejuvenate your credit history, or to instill in a young person the necessary mental tools to avoid excessive spending.

~Guest Blogger~

Please take the time to join us for Fixing Your Credit Part 3 Talking With A Financial Advisor 

Tips For Fixing Your Credit; Part 1 Paying One Bill at a Time

For good or ill it is a fact that modern society runs on money. Lack of money is a root cause of any number of problems including strained or failed marriages and even poor physical and mental health. Whether you find yourself drowning in debt, on the edge staring into that void, or looking to avoid it altogether, there are several ways to help yourself.

The first of the tips I can offer for managing and eliminating debt is to pay one bill at a time. Obviously, this may seem an overwhelming task depending on everyone’s level of debt. It is up to the individual to decide which of their bills take priority, but in general, sound payment strategy involves first cutting your expenses as much as possible down to the bare minimum you need to live. The minimum amount of money you need to keep a roof over your head, the lights on, the heat and water running, and keep some food in your stomach is how much you spend that doesn’t go to your debt.

Generally, you want to tackle your smallest debt first, and make minimum payments on everything else. The primary reason for this is psychological. Part of the mental effect that debt has on us comes from the number of bills we receive. If we can reduce the amount of dread that comes from going to the mailbox, then paying off our debts becomes easier.

After trimming all your extraneous expenses and making your minimum payments on all your larger bills, take every spare dollar and put it towards the smallest bill. That extra money will add up over time and your smallest bill will be eliminated much quicker. Once your smallest bill is paid off, you will have extra money to put toward the next largest bill because now you can include the minimum payment that you would’ve made on the smallest one.

By tackling your bills one at a time in this manner, you not only reduce the psychological impact of the number of bills you receive, but you are also training yourself to live on a minimalist budget. It is important to remember that just because you pay off a few of your bills does not mean you can immediately add in unnecessary luxuries. Once your second bill is paid off, you can put all the money that you’ve managed to save per month toward the third bill including the minimum payment you were making on the second bill and so on.

Unfortunately, short of winning the lottery or reaping the benefit of having a wealthy relative or friend, there really is no quick fix to debt. Debt, however, can be managed and eventually eliminated through the application of willpower and sacrifice.
Anonymous Writer 

If you liked this post then please continue to Fixing Your Credit Part 2 Using 1 Credit Card.

The Ballad of Rick and Morty: Content Creation and Emotional Apathy

One of the things that creativity and art forms bring to us is the stimulation of emotion. Depending on an individual’s perceptions a work of art can either be wonderful or terrible, uplifting or depressing, and any stop in between on the emotional spectrum. For some individuals, the cartoon program Rick and Morty has generated more than a bit of emotional controversy. This controversy isn’t necessarily due to the content of the program itself but rather the emotions that that content creates within an individual.

Full disclosure before this article goes any further, I personally am a very big fan of the program. For those of you unfamiliar with the show, Rick and Morty is a program that is part of Cartoon Network’s Adult Swim block of programming. Adult Swim is an ever-changing series of shows that attempts to tackle more mature subject matter and content (or juvenile content, again depending on your perspective).

The show centers around an elderly genius scientist named Rick and the adventures he shares with his less than intelligent grandson Morty. Throughout the show, time travel and interdimensional travel are constant themes. As may also be expected, there is a strong anti-religion/anti-faith vein running throughout the show as a function of Rick’s belief in science as the be all end all and the infinite universes he has access to, showing him anything is possible and that the universe is just too big and often too horrible for there to be any sort of deity, and certainly not for any deity that may exist to be a benevolent one.

One of the main emotional complaints against the show is simply the fact that Rick’s experiences combined with his atheism paint a very dim and bleak picture not only of human nature but of alien life throughout the galaxy. The show seems to create in some people a feeling of hopelessness that somehow gets lost amid the usual cursing and sexual innuendo.

In addition, there is a bit of a backlash relating to the extremely troubled marriage of Morty’s parents, a condition which is played for drama, shock value, and laughs. Seemingly every episode where the characters make progress in repairing the trouble between them everything goes back to the way it was the previous episode and the progress they made is forgotten. To me, this argument is a little disingenuous. Let’s take the Fox network and its run of notable animated programs for an example. Throughout the combined runs of such shows as The Simpsons, Futurama, Family Guy and American Dad, all of which are part of the popular culture to some extent through memes and otherwise, characters repeatedly do disgusting, violent, selfish, and in some cases illegal things to one another. Despite this behavior, in the next episode things are right back to normal and the family is right back to loving each other until the time comes to do more bad things to each other. The fact that in the case of Rick and Morty this phenomenon goes in reverse doesn’t mean the show is setting any sort of precedent.

This sequence extends to live-action television as well, and no one seems to notice or care. In the lifetime of my television consumption, Everybody Loves Raymond was one of the most egregious offenders. Seemingly every episode revolves around some sort of misunderstanding between a man who is constantly portrayed as being lazy and stupid and a woman who is constantly portrayed as being a frigid battle ax. They fight constantly about their kids, their sex life, about the meddling in-laws, about bills, and about household chores. In almost every episode there is some major heartwarming “let’s come together and never fight again” moment, and then the following episode everything resets to exactly the way it was.

I submit to you dear reader, that it is not the job of content creators to censor themselves because of how viewers perceive what they create. As with anything, the market will decide what people tolerate and what they want. If Rick’s doom and gloom perception of the universe is too much for you to handle you are free not to watch the show. As for myself, while I can see the reasoning behind the negative feelings the show might create in some viewers, it is still packed full of jokes and funny references and can serve as a half hour slice of escape from the real and ever encroaching depression of real life. Turn on the news for 30 minutes, and you’ll see almost nothing but a bleak sense of hopelessness. Shows like Rick and Morty are not for everyone, but for the cult following that the show has drawn it’s easy to compartmentalize real life versus fiction.

Anonymous Blogger