Insurance and Credit

As the economy spirals out of control it is effecting many households. Individuals are snapping under the stress and blame bad financial choices on the government. Some are committing suicide or killing their own family members. If you think this is just crazy talk or some made up news story, it is true. Seems some people just can’t cope with financial disaster, especially if they have never been broke before.

Did you wake up early this morning thinking about how you were going to pay the rent or the house payment this month? Has the economic black cloud finally hit your neighborhood? If you are in significant debt, eventually, the strain will wear you down. Maybe even to the point you feel bankruptcy is your only option. Before you do that or something even worse, consider a plan to help you and your family recover.

Getting started is easier than you think. The very first step in your plan has nothing to do with making more money. I realize that you will only be able to make a pre-determined amount of money in the very near future. So, what do you do. Start by attempting to hold on to as much of your money as you can. Who cares how much money you make or don’t make. If you don’t save any of it or are over spent every month it doesn’t matter if you are a gozillionaire. So it is all relative.

Think about it…. You may make $1,000,000.00 a month but if you spend $1,000.100.00 you are in the hole $100.00. If you make $4,000.00 a month and are able to save $600.00 you are actually $700.00 better off because you saved the $600.00 and you don’t owe the additional $100.00 that your $1,000,000 counterpart earner. I know this is a simple concept but it is powerful if you dig a little deeper. If you believe that you can not get out of debt because you don’t make a substanial income, think agian. Get your debt under control, set up a budget and make up your mind to get it done.

There is a simple way to begin a budget. It is so simple, you will say, why didn’t I think of that. I call this the “Cash Box” method for saving. Get organized by writing down all your bills on a calendar on the due dates. When you deposit your check, put enough in checking to pay the bills listed on your calendar. Cash out your spending money at the bank and put it in your cash box at home or wherever you keep you spending money. Make yourself deposit the remainder in a savings account.

The key to this personal system is depositing the remaining funds into a money market savings account or regular savings account every single week or pay period. Then don’t touch it and watch it grow. Be persistent and once you get used to not having those dollars it will get easier and easier. When I started my savings regiment, I had a goal to save at least 10% a week. I have since increased that percentage as my level of discipline and resources increased.

But before I do, lets talk about credit cards. Bottom line, if you don’t have the will to stop using your cards you might want to cut them up. That goes for debit cards as well. If you don’t cut them up, put the cards in a home safe or safety deposit box. That way, if you have an emergency you will have access to your credit. Work hard to spend your spending money and that’s it. When your allocated spending money is spent, consider finding a free activity or waiting until you get paid again to make a purchase. Credit card interest racks up faster than many people realize. Your savings will be greatly reduced by paying high credit card fees. This is one of those things that happens over time like a frog in a pot of boiling water.

Now that we have the credit cards under control, let get back to your savings plan. Remember, it isn’t what you make that is important, it is what you save. If you really want to increase your savings ability, take advantage of every discount, coupon and promotion available. Half off or buy one get one free deals are the best if you have to buy two anyway. Lets say you have to buy both kids a pair of shoes and separately it will cost $20.00 each for a total of $40.00. Buy one, get one free puts $20.00 in your savings account. There are hundreds of coupons and discounts available at MyWorldPlus.

Last week a radio personality stated that Americans were showing a trend in saving again after years and years of taking on personal debt. With a little hard work, you can start saving by first paying yourself. A three step system works best for me. 1. Add your monthly bills 2. Then, deduct that sum from your take home pay. 3. Deduct your living expenses, ie. spending money and place the remainder in savings account. This system also works if your paid monthly, just do the same thing for the whole month. Do not use checks. Instead, live off of your spending money. This system is explained as easy as 123 but I can tell you it is hard to stick to.

If your an avid credit card user or even a habitual debit card user, consider getting rid of them fast. If you don’t cut them up, muster the discipline you need to only bring them out in a dire emergency. Racking interest charges will amass before you know what hit you. My three step system will eventually bring my finances under control but it is only half of the solution. We would all like to earn more cash to save as we go. Lets say we are already putting 10% in the bank. That 10% is all we can muster. How do we save even more? The way we do that is by taking advantage of discounts. If you can save 10% on many of the purchases you make you will have saved 10% more than you would have been had you not cashed the discount. Use this method for making up for non-budgeted items. Think about it, if you had to spend an additional $50 this week, find some discounts on things you were going to buy anyway and put it back. You will not be going back to your savings account like you used to do when you got a little strapped for cash.

In an attempt to find quality discounts in my area, I hit the internet. I searched and found an outstanding source for coupons and discounts. I found a program called MyWorldPlus and after taking a free tour of the program I became a member and associate. The MyWorldPlus program allows me to save huge by taking advantage of member discounts and coupons. MyWorldPlus also has an excellent home based business opportunity attached which will give you another way to earn even more money for your bank account. The whole system only costs $20.00 a month and you will remain active and eligible for everything your about to read. For my $20.00 a month, I earn 1% to 20% cash back from online stores. There are over 600 of them in the network. Also, I get access and I mean full access to over 175,000 brick and mortar businesses worldwide. Lastly, don’t forget about the business opportunity that is attached to this program.

My girl and I were going to go out so I turned on my computer and found a great deal. If I purchased an entree, I would get a second entree for $1.00. She loves to eat but she loves to save a whole lot more. My entree was $1.00 after buying her entree for $12.00. I bet you eat out more than one time in a single month. Using my example, if you go out two times, you will have saved $22.00. Your MyWorldPlus membership has already paid for itself and you pocketed the remaining cash. Cash you would have given to the restaurant anyway. If you think it isn’t worth all this logging in and printing coupons, think again. Get a calculator and add it all up. 50% off on a local oil change at a national chain, 10% off on your total grocery bill, get a haircut for 10% less, it just keeps racking up. MyWorldPlus has been on the internet since 2007. They are here to stay. It will be worth your while to take a free tour and learn more about this system. I am glad I did. Take a tour here.

One of the craziest things I have found is that some of the wealthiest people look like they don’t have two dollars to their name. I guarantee you the reason stems from them being avid savers not spenders. Check us out at myworldrocks

Many ordinary people want to try day trading from the comfort of their homes. Do you know this fact that most fail. No more than 10% succeed at day trading in the long term. Are you interested in day trading? Than read on what it takes to be a good day trader.

Day trading is not a hobby. Day trading is a job. Dont forget day trading can be stressful.

So what it takes to be successful at day trading. Day trading is like owning a small business. You are the boss and you call the shots. Take it like this.

Successes and failures in day trading are due to you. You need to understand this. You cant blame the markets. If you are an independent personality who likes to control destiny than day trading is for you.

All you need is a computer, a good internet connection and an account with a brokerage firm. Day traders use software to develop and refine their trading strategies. So, if you are comfortable with technology, day trading is for you.

Good day traders have always been fascinated with the financial markets and how they move. Financial markets are amazing. If you have been enjoying watching CNBC for years than day trading is for you.

But, if you have never opened a brokerage account, never purchased stocks or invested in mutual funds than day trading is not for you. You do need prior investing experience to succeed with day trading.

Day trading has a potential for loss. If you understand trading systems, strategies and money management principles than day trading is for you.

If you are decisive, persistent and can afford to commit to your trading than day trading is for you. Day traders are usually strong personalities.

Day trading is sometimes stressful. It needs a good support system in order to maintain emotional stability when markets become jittery with news events that no one can foresee beforehand. Markets are ruthless. You need to be psychologically strong to be a successful day trader. Forex trading is best for day traders.