Month: July 2021

Gold_Bar

Different Ways Of Investing In Gold Safely

For years, investors have known gold to possess intrinsic value and safe investing features. Since properties, currency and shares are prone to inflation as well as their prices may go up and down with the market, it is far better to invest in gold and silver like gold since the prices will always be expected to increase. Gold, as a commodity, not only has long-term store of value but also provides a hedge against inflation. In last one 10 years, the price of 1ounce gold has shown a dramatic increase from $300 to $1,500 and is likely to raise much more. This makes gold investments very profitable.

Are you interested in making safe investments in gold in gold but don’t know the tips for doing so? Simply check out the tips mentioned here.

Strategies for Investing In Gold Safely:

1) If you’re keen on possessions then you can certainly purchase physical gold in the form of bars, coins and bullion. Gold bullions are made from 100 percent pure gold and they are sold in increments of just one oz. hence they are popular type of investments with regards to purchasing physical gold. Various nations sell bullion coins that are denominated in local currencies. American Golden Eagle is the local bullion currency in the usa which is easily available at local outlets as well as on online websites.

gold-is-money

2) Women especially prefer to purchase gold jewelry. This is due to the fact most jewellery pieces are marked and priced based on the weight and quality (pureness) of metal used in it too as the cost of labor included in making it. You will get the rarest ornament pieces from jewelry auctions and online websites (they offer discounts top). However, purchasing ornaments online will need focus on your part because you will have to determine the purity and price of those items, think about the interest in brand and find out the shipping cost of gold. If you buy excellent quality jewelries, you can make profits by reselling it.

3) Exchange Traded Funds (ETFs) are second most popular types of investments after physical gold. In the event you can’t figure out what to know about gold investing, you are able to seek advice from an ETF expert and invest your hard earned money in it. Look for an online brokerage firm and open up an account there. Evaluate the current market prices of gold ETFs by making use of symbols like SGOL and FLD. They possess ETFs prices at 1/10th the price of an ounce of gold whereas PHYS and IAU have their ETFs costing 1/100th of the cost of an oz of gold.

Firstly, determine the amount of ETF shares you want to purchase and appropriately, divide neglect the amounts. You may make use of the online screen of your brokerage account to purchase ETF shares. The process of buying ETFs is just like purchasing stocks or shares. The broker may offer discounts of $5 to $10 on share trades. Here you must remember that gold ETFs don’t supply you interest amounts or dividends because the profits or losses incurred by investors depends upon the fluctuating selling price of 1 ounce of gold. Thus, you should use ETFs for either short term trading of gold belongings or for making long term savings.

4) If your luck is at peak, you can consider investing in stock exchange and mining companies. You can invest in shares of Barrick Gold (ABX) the largest gold mining company. One benefit of purchasing stocks is you can easily sell or buy them with little fuss.

5) Lastly, there are gold mutual funds which are ideal for group of businessmen. Mutual funds directly track the cost of gold and cost of shares of gold mining agencies and are collectively owned by some people. Look for company that offers lower investments and lets you invest in an automated monthly schedule. Put smaller amounts in gold investments for a long period of time to be able to gain maximum profits. If you are a first time investor, you should collaborate along with other experienced traders of the market to stop losses.

6) You can also buy possessions on monthly installments. You can set up an automatic investment scheme that deduces money from your banking account and directly transfers the profits incurred by you there. This will prevent you from going out of budget.

If you would like more information regarding shipping cost of gold, please check at well-known dealers or visit trusted websites to find opinion from the specialists.

If you want extra information on topic “payday loans“, then you are welcome to check out the author’s website Febs2010– in which you’ll find all types of specific information on the said topic.

Warren Buffett

10 Books On Investing That Billionaire Warren Buffett Recommends

Imitating successful people has its limits. As one brilliant writer on Business Insider once said “The idea that if you can find out how successful people live and then copy it, you’ll be able to emulate it.  Like it was Jack Dorsey’s early morning routine that made Twitter successful. This idea is just not true”. However there are certain instances where imitating successful people can be beneficial. That’s when you study what they know, not just what they do. And what better way to get into what they know than following which books they read right?

Best investing books

One popular avid reader is billionaire investor Warren Buffet. He was once recorded saying in an interview that he reads books to collate more and more and more facts and information, and occasionally seeing whether that leads to some action. He doesn’t read other people’s opinions, he wants to get the facts and information, and then think.  According to Business Insider these are 10 books  that he recommends every aspiring billionaire, like us, should read:

Number 10: ‘The Most Important Thing Illuminated’ by Howard Marks

In this book, Mark aims to help investors achieve success by putting more thought into their decisions, drawing heavily on his own mistakes and what he learned from them. The book lends insight into concepts as “second-level thinking,” the price/value relationship, patient opportunism, and defensive investing. And how did uncle Buffett describe the book? As a rarity!

Number 9: ‘Jack: Straight from the Gut’ by Jack Welch

The descriptions of Jack Welch have ranged from being the world’s (*cough* cough* America’s) toughest boss to the manager of the century. This is because of how he defied conventional wisdom during his twenty-year career at the helm of General Electric, turning an aging behemoth of a corporation into a lean, mean engine of growth and corporate innovation. Buffett’s advice regarding this book is “Get  copy!”

Number 8: ‘The Clash of the Cultures’ by John Bogle

This was one of the  books  recommended by Warren in his 2012 shareholder letter. Written by the founder of the Vanguard Group which now manages upward of $3 trillion in assets, the book argues that long-term investing has been crowded out by short-term speculation. Finishing tips in the book include insights like: what’s hot today isn’t likely to be hot tomorrow: the stock market reverts to fundamental returns over the long run; don’t follow the herd; time is your friend, impulse is your enemy and take advantage of compound interest and don’t be captivated by the siren song of the market.

Number 7: ‘Dream Big’ by Cristiane Correa 

The book is an autobiography telling the story of the three Brazilians who founded 3G Capital, an investment firm that joined Buffett in purchasing HJ Heinz in 2013. In the book Correa highlights the main principles of 3G’s management style which paved the way for their current success meritocracy, cost-cutting and trusting in people and allowing their teams work. Buffett liked the book so much that he recommended it at the 2014 Berkshire Hathaway shareholder meeting.

Number 6: ‘The Little Book of Common Sense Investing’ by Jack Bogle

This book is another hit by the founder of the Vanguard Group. This book highlights how investing is all about common sense and owning a diversified portfolio of stocks and holding it for the long. Based on his own experience working with Vanguard clients, Bogle attempts to help readers use index investing to build wealth. This book was another recommendation in Buffett’s 2014 shareholder letter. He further recommended that shareholders read this book over listening to the advice of most financial advisers.

Number 5: ‘Where Are the Customers’ Yachts?’ by Fred Schwed

Buffet described this book as “The funniest book ever written about investing,” since “it lightly delivers many truly important messages on the subject.” The book was first published in 1940, and takes its title from a story about a visitor to New York who saw the bankers’ and brokers’ yachts and asked where the customers’ were. Obviously, they couldn’t afford them — the people providing the financial advice were in a better position to splurge than the people who followed the advice. The book is said to be filled with scornful wisdom and colorful anecdotes about Wall Street, and remains compelling even today.

Number 4: ‘First a Dream’ by Jim Clayton and Bill Retherford

This is one of those books with a captivating “rags to riches” story. Within it, a young boy discovers during the Depression that hard work and sheer perseverance are the keys to living his dreams. It is filled with practical, easy-to-understand, no-nonsense business lessons that the entrepreneur can apply to his or her own life — describing the qualities an effective leader must possess, the key methods to inspiring team members, and the development of culture and values that are critical to the success of a small business as well as a multibillion dollar conglomerate. Buffet liked this autobiography of Clayton so much that he decided to invest in Clayton Homes in 2003.

Number 3: ‘The Essays of Warren Buffett’ by Warren Buffett

What better way is there to learn about how Buffett thinks than to go to the source himself? In this collection, he is said to keep it real — in his signature folksy-intellectual fashion. “What could be more advantageous in an intellectual contest — whether it be chess, bridge, or stock selection — than to have opponents who have been taught that thinking is a waste of energy?” he asks.

Number 2: ‘Security Analysis’ by Benjamin Graham and David L. Dodd

Buffett describes this book as a groundbreaking work of Graham’s that had given him “a road map for investing that I have now been following for 57 years.” The book’s core insight: If your analysis is thorough enough, you can figure out the value of a company — and if the market knows the same. Buffett has said that Graham was the second most influential figure in his life, after only his father. “Ben was this incredible teacher; I mean he was a natural,” he said.

The Intelligent Investor

Number 1: ‘The Intelligent Investor’ by Benjamin Graham

This is not only my favorite book by Graham, but the best book on investing that I’ve ever read. Apparently Buffett agrees since when was 19, he picked up a copy of this book and notes this as one of the luckiest moments of his life because it gave him the intellectual framework for investing. “To invest successfully over a lifetime does not require a stratospheric IQ, unusual business insights, or inside information,” Buffett said. “What’s needed is a sound intellectual framework for making decisions and the ability to keep emotions from corroding that framework. This book precisely and clearly prescribes the proper framework. You must provide the emotional discipline.” Buffett liked Graham so much that he named his son after him.

monthly-budget

10 reasons you should use a personal budget

Personal budget is the most important instrument when it comes to our financial life.

It is the instrument that helps us control our financial life when it comes to our income and expenses.

Living without a personal budget is like going through a very big city such as Bucharest without being from Bucharest and wanting to go to various places without map or GPS.

The personal use budget is made of a projected budget where you have to anticipate each expense and each income you make in a determined period of time and of an achieved budget, where you have to write all expenses and income you made.

The budget is useful both for persons in a difficult financial situation and who want to go over this period, as well as for people who want to plan their way to get rich.

monthly budget

Using this financial instrument can give you lots of benefits regarding your financial health, because the budget:

 10 reasons you should use a personal budget

1. Helps you be aware of where you are spending your money!

It is the place where you plan and write all your expenses. It helps you see what are your money spent on and where you can make adjustment.

It is one of the most important options of the budget, because next is the financial planning.

2. Helps you know what are your income sources and how can you increase them!

It helps you plan your income. Most of the times, income is constant and you can hardly adjust it.

Most of the times, the budget helps you analyze your financial status and see if your income is enough for your expenses and for the financial objectives you set for yourself.

3. Helps you plan the expenses!

How many times have you realized that you are going shopping with the idea of buying something and coming back home with much more than you would have wanted.

The budget has its role of necessity. All things you should buy are written here, not the things you would like to buy.

It helps you make a difference between WHAT IS NECESSARY and WHAT YOU WOULD LIKE to buy.

Always choose WHAT IS NECESSARY to buy.

4. It helps you get rid of debts!

Yes, it helps you get rid of debts. Once you know what the income is and on what you spend the most, it helps you narrow the expenses and, with the money you save, pay your debts in a short amount of time.

5. Helps you avoid debts and spend as much as you produce!

Once the budget is planned, it guarantees that you will spend only what you produce. Your entire income should be larger than the expenses.

The difference between income and expenses represents the profit. With the profit you can pay your debts, start arrangements to buy a house, a car or to plan a vacation.

6. Helps you plan the purchase of a house!

The personal budget is your financial mirror. It shows you how much you earn and how much you spend.

It shows you how much profit you have in a month. This profit can be invested in a house.

For a new couple, that wants to buy a house, it is very important to use an internal use budget.

The house you can afford is the house that does not cost more than 2.5 times your total income per year.

The house you can afford = 2.5 * your annual income

It the result is higher than that, problems will occur regarding payment.

You can start with a smaller house and go to a bigger one after a while. Go to a bigger house only after you become the owner of the first house.

The budget helps you keep under control your expenses, house instalments and income without having financial problems.

7. Helps you be more structured and more realistic!

The budget helps you be more structured. It is designed as structured and as detailed as possible, to help you anticipate each expense by various expense categories.

Once the monthly budget is made, at first you will have many frustration reasons. In the first three months, you will not be able to plan your budget due to the fact that you are not being realistic.

You are subjective when it comes to the financial planning and you still think you will spend less and earn more.

Not true! You will spend and you will earn as much. The budget will show you this and will help you be more realistic with your budget each month.

You will end up being more realistic and more structured, not only with your money, but also in your daily activity.

8. Helps you save more!

Yes, it is the instrument which helps you save money from various places, in order to buy a product or to go in a vacation.

The budget gives you a faithful and real image of your financial status, where you can draw some conclusions regarding the places you can cut some costs.

With the money you cut, you can plan various expenses or you can reduce your debts.

bookkeeping

9. Helps you have multiple income sources!

The budget is also an instrument for rich people, not only for those that have financial difficulties.

With the help of a budget, you can also plan some businesses you might want to make, invest in various mutual funds or in the stock exchange.

In order to get here, you must get rid of all other habits of yours that make you spend more than you produce.

10 .Helps you be more motivated.

The budget helps you be more motivated. It gives you the motivation to want more from your financial life.

It helps you get rid of debts, have our own house, go in certain vacations and buy different things you want.

It is the most important instrument for your financial life and gives you the financial motivation to want more from yourself.

While planning a personal budget can take few hours each month, the fact that you learn to use a personal budget can bring you back money you may have never imagined.

We are spending money on things we do not need and we are running into debts for things we do not need. Why are we doing this?

Because we do not know what happens with our personal money!

Planning a budget each month and strictly complying with it, you can reach peace and quiet in your financial life.

If I have convinced you that a personal budget is useful, you can start from now planning your income and expenses with the help of a personal budget model you can download for free HERE.

It is a model I have created and which I recommend to all readers of this blog.

If you still have doubts about its use, you can ask me anything related to the personal budget in a comment below.

I will answer to any of your questions.

Business Credit

9 Steps to Establishing and Building Business Credit Unfolded

As a small business owner, either existing or new, you may have been denied getting business financing. Frankly, you may find the process daunting if you don’t know what it entails. Though I am not trying to make you fuss yet I must be honest to tell you that more than 50% of the owners of small businesses do not normally get approval when they apply for loans. Nevertheless, if you know how to get your way around it, you will surely get access to financing at ease. Therefore, you need to learn the secret of establishing and building a strong business credit in order to access business financing and credit with ease and move up your business. Here, we have covered the ground for you by providing you with all you need to learn and the steps you need to take in order to establish and build strong business credit to get off the hook of poor financing and take your business to the top.

Learning How to Establish and Build Business Credit – Why?

Establishing business credit in order to access business financing and taking the time to learn how to build it might be unnecessary while you have your personal credit to get you through. To be candid with you, separating your personal credit from your business has many benefits. One of the benefits is that it will help you go a long way in getting rid of the adverse effects one can have on the other. For instance, if due to some missteps, you know that your personal credit score is low and you will surely be denied of financing, you will rely on your business credit as the way forward. In order words, the bad score of your personal credit will not affect your business credit, and vice versa.

Build Business Credit

Once you are not running your business as a sole proprietorship or as a general partnership, you have to separate your business from the owner in order to protect your personal assets. This is one of the key benefits that limited liability companies and corporations offer business owners. Therefore, you need to establish business credit in order to keep this protection consistently in place.

Establishing and Building Strong Business Credit – The Untold Benefits

Apart from the fact that business credit will help you separate your business from your personal credit and secure the future of your business, there are many other benefits of business credit, which include:

1. Money-Saving

As a business owner, there are many channels that business credit can help you save your wallet. One of the ways is that it will help you secure favorable interest rates on loans. Secondly, it will help you minimize the situations when you need to repay for specific products or services.

2. Access to Funds and Assets

Unless you build a solid business credit profile, you will not have the guarantee to be approved for business loans from lenders, If you establish and build a good business credit profile, it will help you build confidence in business transactions. Thus, you will be able to have unlimited access to funds and assets from lenders, and ultimately, you will be able to make your business grow.

3. Establishing Better Trade Terms

Good business credit will make your suppliers have confidence in you; and hence, it will help you secure better trade terms with your important suppliers. So you will have unlimited access to obtaining supplies.

4. Increased Sales

As mentioned earlier, confidence is important in securing favorable business transactions. Customers will want to know whether you will be able to meet up and deliver their orders before they can seal a deal with you. Your business credit score is one of the ways customers can evaluate you. Unlike your personal credit, your business credit score is not so confidential, anybody can access it. Therefore, if you don’t have a good business credit score, customers are less likely to place orders, let alone placing big orders.

5, Protecting Your Personal Assets

When you need to apply for a loan with your personal credit, you will need to use your Social Security Number and lenders will have to access your personal credit reports in order to determine your creditworthiness. Apart from the fact that any ensuing problems will underscore your personal credit reports, you have exposed your personal financial situation to the public. Therefore, this will make it more difficult to get a loan for your business, even if you later want to use business credit, because your lenders might have been aware of your poor personal financial situations.

6. Securing Your Family

If all goes well, you may be able to secure loans for your business using your personal credit, but it may deny you the ability to borrow as an individual for your personal upkeep when the score becomes poor. Therefore, you and your family will be adversely affected and you know, you may, as a result, lose your family.

7. Minimizing the Need for Using Personal Guaranty

Dealing with personal guarantees is one of the big issues in dealing with getting loans for a business. A personal guarantee is an assurance that you will be able to pay off your business debts, in case your business is unable to pay the debt. If you establish business credit, it will help you draw a clear and vital line between your business and personal finances. Thus, you will be able to mitigate the need to sign a personal guarantee for your business funds.

Building A Good Business Credit Score – Food for thought

At this juncture, perhaps you don’t know, I need to tell you that one of the major reasons why business owners like you are usually denied access to funding is the failure to understand their credit situation and build it.

Business Launcher

Though in this article, you will understand how to monitor and build your business score, yet we will be flattering you to tell you that you have known all because Rome was not built in a day. This is why you need experts to control your business credit health and quickly get funding with ease and keep your business moving, According to Nav’s 2015 report, American Dream Gap Report, one in four of businesses fails to know why their financing applications are denied. Furthermore, according to the report, the businesses that understood their individual business credit score were less than 50% (41%, to be specific) more likely to get approval for small business loans. However, this is nothing to fuss about, you can be seamlessly getting fundings for your business once you sign up for a credible Business Launcher tool like that of Nav. Nav offers their customers free account to use their formidable Business Launcher tool to start building their business credit profile in no time. Although it is imperative that you know how to establish and build your business credit, and this is the next thing we want to teach you.

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