Saving money is something we all hope to do, and there are many reasons why setting up a savings account is a good idea. Anyone who has been short of ready cash will realise the difficulties that can result, such as a credit card debt spiral, inability to pay fees or fines on time, penalty payments and ongoing money worries. Of course, getting started with a savings plan is the hardest part, but even a little saved weekly or even monthly will shield you from life’s unwanted surprises.
Compensation for this post was provided by Clime Value Investing. Opinions expressed here are my own.
Value investing is one of the simplest stock investment strategies, and also one of the most effective. You don’t even need to be a finance whiz or undergo a course in chart analysis. Value investing strategy means locating quality stocks that are presently undervalued. In other words, if you know the value of something and purchase it at a discounted price, you will get a bargain – and then make a profit.
It’s expected that home-buyers will become daunted by the complexities of the home loan application process. There are a number of regulations and laws that govern our capacity to obtain a loan. However, the process is relatively straight forward when the borrower, armed with knowledge, takes each step with clarity and caution. Here is a brief overview of the lending process that will ensure you are ready to get a good home loan deal.
There are a range of good reasons for owning a credit card. However, in the wrong hands, credit card misuse can lead to financial hardship. You need to understand credit card advantages and disadvantages to get the best value for your money.
A credit card is an easy way to borrow cash for a purchase you wish to pay off over a number of months. They are an essential item for most people, with the advent of internet shopping and bill pay methods rapidly superseding traditional retail shopping and over the counter transactions. Credit cards are also great for business and travel, and are accepted world-wide for a huge range of purposes.
This is the second part of the SMSF “story”. The first part can be found here: The Benefits of Self Managed Super Funds
For many people, a substantial amount of capital is invested in superannuation. In today’s marketplace it makes good sense to maintain a degree of control, and self managed super funds (SMSF) are the obvious and increasingly popular choice. However, most of us are basically passive investors who prefer to have expert SMSF administrators look after the day-to-day maintenance of our account. Passive intelligence can be a good thing, especially if your SMSF is in the right hands, but how do you find the best self managed super fund?
2014 is likely to be another milestone for the superannuation industry, with forecasters expecting self managed super funds to account for one third of all Australian superannuation assets. Self managed superannuation is not suitable for everyone, so why does it remain a major market growth sector? Below are some advantages that have led to the continued uptake by newcomers of self managed super funds.
Australia’s cash rate, decided by the Reserve Bank of Australia’s Board, currently stands at 2.50%, the lowest it’s ever been. This is good news if you owe money but bad news if you’re a saver, as this figure is used by lenders and banks to decide how much you pay and how much interest you earn on the money you have invested.
As this rate is at a historic low and has been for some time, it doesn’t take a financial genius to figure out there’s only one way it can go. Economic growth drives interest rate rises, and with experts forecasting that Australia is leaving the financial lull behind, the rate looks set to get moving once again. Equally important is to be aware there’s a long way to go before it could stop.
The survival of a small business is reliant on having enough cash flow to cover additional expenses and prepare for unforeseen events. Many businesses struggle every month, between the time they invoice customers and the time they are paid, and a shortfall of funds can cripple expansion plans or even break a business.
Without sufficient cash flow, a business is operating in a risky fashion regardless of profit margins. The difficulties are also increased when outside forces play their inevitable role, such as occurs during economic volatility, times of low consumer confidence, or a high Australian dollar. Many thousands of businesses become insolvent every year, and while it’s expected that not everyone will be a success, good money management could help to save those who may otherwise be tottering on the edge of insolvency.
No matter what our day job entails we all need time away from the pressure of work. Lots of people escape from the working grind by doing something they truly enjoy. Indeed, it seems we all need a release, a hobby or a passion to keep us vital and inspired. At some time, all of us have dreamt of turning our passion into our occupation. You may be a home chef, a musician, a crafts-person or any number of other things, but still remain obligated to work in a field you don’t really enjoy so much.
A bad credit score will cause a moneylender to consider you a risk. There are ways to plan right now if you are considering applying for a loan sometime in the future. Having a credit rating that doesn’t satisfy a moneylender will adversely affect your borrowing options. Some lenders claim that they will lend money to anyone regardless of a bad credit rating or history, but many of these financiers cover themselves by demanding unrealistically high interest and repayment terms.